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Home My WebLink About2000-09-12; City Council; 15879; City Investments As Of July 31, 2000AB# /Ta79 MTG. %/a -dl, DEPT. TRS CITY OF CARLSBAD -AGENDA BILL TITLE: REPORT ON CITY INVESTMENTS AS OF JULY 31,ZOOO CITY MGR: =FyL RECOMMENDED ACTION: Accept and file report. ITEM EXPLANATION: The City’s Investment Policy requires the City Treasurer to report to the City Council on a monthly basis the status of the City’s pooled investment portfolio. A quarterly report is also required for the investments of bond proceeds held separately. The City’s pooled investment portfolio as of the month ended July 31, 2000 is summarized below. Pooled Investment Portfolio (Cash and Securities) Current Month Prior Month Par Value 324,318,244 324,393,538 Cost of Investments (1) 323,077,155 323,263,704 Amortized Cost (2) 322,657,474 322,669,159 Market Value (3) 318,738,588 318,351,501 (1) Of the $323 million in the investment portfolio, $47 million are General Fund dollars. The balances of the funds are restricted for various purposes. See Exhibit 7 for a breakdown of fund equities in the investment pool. (2) The cost of investments adjusted for amortized premiums and discounts. (3) The amount at which the investments could be sold. Source of market values is Union Bank of California’s custodial report as of 07/31/00. Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Prior Current Month Month FYTD Month FYTD Income 1,515,268 0 1,515,268 *The cash income received is adjusted for any accrued interest purchased. PAGE TWO OF AGENDA BILL NO. 13 879 Pooled Investment Performance/Measurement May 2000 June 2000 July 2000 Average Life (Vears) 1.80 1.80 1.73 Average Yield Modified Duration 6.05% 1.61 6.12% 1.61 6.16% 1.55 All pooled investments have been made in accordance with the City’s Investment Policy adopted January 2, 1985 and last revised January 11, 2000. All investments were initially made in accordance with the City’s Investment Policy. Events subsequent to the purchase might have resulted in some investments not being in compliance with the current policy. These events are typically a change in the City’s Investment Policy, a change in the credit rating subsequent to a purchase, or a temporary reduction in total portfolio assets. See Exhibit 8 for details. The pooled investment portfolio has the ability to meet the City’s cash flow demands for the next six (6) months. EXHIBITS FOR POOLED INVESTMENTS: 1. Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield 2. Investment Portfolio Breakdown Of Maturities 3. Yield Comparison Graph 4. Cumulative Cash Income Graph 5. First Quarter Transactions 6. Detailed Investment Report 7. Fund Equity in Pooled Investments 8. Corporate Note and Commercial Paper Ratings 9. Percentage Weightings By Corporate Note Issuer .- Q 2 s z 0 0 0 0 0 8 6 0” d 0 0 0 0 0 - EXHIBIT 1 3 EXHIBIT 2 9 “0 d 0 0 0 0 0 z 0 u2 r 1 prl 4 I& c 0 u n ‘r r 1 PA a +L X7 WJ t t - f EXHIBIT 3 - % fi - 4% - %d 4 0 - % /, - ?iL - %k 11’0 0 - % - ?b - *G/ 4 0 - 5% - ?b - $ - 4 0 - % - +?L - *G/ 4 0 I 5 EXHIBIT 4 0 E . . 0 c) G 43 m ca ! 8 * b 8 . * ‘4 . i \ * 8 8 4 . * ‘4 , . i \ . i . . EXHIBIT 5 OOb OFa! %s mnlm + T- Tf- 88% ci l-j v- in s .- Y 5 b d $$$ $Ki5: 9(9m www 888 ggg 000 g g $ 9 9 cu_ mcuv aaa . . . i zzz Z aaa . . . zzz 7 - EXHIBIT 6 S$ -3 8%8%t4 ;s 00000w000000m00w0m00oomooooomo~~7~ 000~0~0000W0N00~0~00OOOOOOOOWONW 8 0000000000 momo1oooooo 8 ~ddd~d~ddddddd~dddd~~~~~ti~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~w~tm000tott0ww0~w0~~w~owwow %2’%m -w00r+0mf-0~0r0~ ONOlcV) ~~oN~wm~moqqo~qo~~~m~~~o~m~~~~~o~o~~~~~o~~~ c-3 L-+I-OOC’JNWWOWOI-~-W % OWOaJr- v$- d cd cd ; b- ‘6 ti c.,- 6 cd ni d 6 ommNmmNmcoor-mm0 3 *o~~*-oow~cwm*~omi~~~~~~~~~~~~~~~~~~~~ Noommowommmuaw*Nowmm~oou2mm o~m~m~o~w~m~~mo~o~m~mmo~m~o~o~o~m~m~o~~~o~mm~m~m~m~o~m~o~w~m~mm~o~o~o~~~m~ ~omocut-mwooomo 0 m 0 0 mm o~o~o~o~rn~o~ NN--N - NN- N.-NW.--.-ONC”, N.-N.-NWNN- W v) ,-, -N N ;ti;C-iP,-; mt’,NN.-N 8888888 88 8 8 000000000000000000000000000000 000000000000000000000000000000 8888 88888888 zo !$ dddddddddddddddddddddddddddddddddddddddd~~~~~~~~~~~~~ 00000000000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000000000 P mQmmmmm seei uuuuuuu zzrzIIIzIzrIzIzz uuuuuuuuuuuuuuuu !I aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu 000000000 888 8 m~m0m~000m0~0~mm00~mmwmmmmomommmmmmmmmmmom~mm~~~~ mmmommooomomommmoo mmmmmmmommooomomommmoo 81 mmmmmmmomommmmmmmmmmmommmmmmmm mmmmmmmomommmmmmmmmmmommmmmmmm worn-ooobrnr WNNOOOmOOOOWW-,- oom* bOmrOwOrwr 8 %8X=f P% ,.NN000W0000Wb“?~ 8 ~ddddddddr~~~~d~dd~~~~~~~~~~~~~ .rooo-t-! fF;$?8 rniciui womb k k 9 (3 --mr-* WW,.N NNWO 00000000~0wm0w00w000ooomoooooooomomwo 00000W00t00W0N00m000OOOWOOOOOOO~~~W,~~ dddddddd~d~dd~ddiddd~~~~~~~~~~~ “-,WONNOOtWmrW bNOW000bOWrN 8 OWWOOON~Omooob~wo 0w*r-0*r*0w00lnwwtrw ~d;d~dddd~~dd~dd~d;~~~~~~~~~~~~~~~~~~ m00rNWOmt~tWNO~r~N~NmO~OOWO~NW~~~W~O m 0 0 mm m 0 w~m~m~m~o~m~o~w~b~m m-m-mmrnmomm o~o~m~o~m~m~m~~~w~m rnmrnmrnm +,-6tXj.--ni;titi .-.-.-.-WrNNr ---a-m NNW’N--N-N r-N 0000000000000000000000000000000000000 9999499999999999999999999999999999999 88 8 0000000000 8 00000000000000000000000 0008888888888088888888888888888888888 ddddddddddddddddddddddddddddddddddddd ooooooooooooooowoooooooooooooor-000000 OOOOOOOObOOOOOOWbOOOOOOOOOOOOO~NOOOO0 Qggg o-do-d 8888 U-i ; ‘-Xi ; El aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa LuuuuuuuuuuuuuLLuuuuuuuuuuuuuuuuuuuuuu 0000000000000 000000000000000000 NNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN ~.~~............................ :3aAawwwommwlnmwoNNw --mwwmwvwmwwww~omww NNNrr-r-N.~-rr-N-.-..NaNN.N----- ~S3Sirnrn~~ . . ..~~ww~~~w~rnrn.o-. mFyF-~>N~~WV’WW~~~~ - - l- 88 8 %%88888 8 mmommomommommommmmmomomooommoo0 8666 ommm Qccr $$FS$j m w - ~8S8~$!zW8z13f~ a w*ou3ob~mwmrn~m~o I- b I--m NmOwbmW W LD l‘--- ;s WmbcWNmNrVNOWOt 3 t-wbwh-mtbwm mmbcuh-NNmwm g: wormmbwb mbom~wlcm 8 ~ww~~m00~~w~0wm0wtmw~w~~mwmmwm~~w~w~m~~w~ m r -; l--T--;; v-G-T--;;;; ;;l-- ;;;;;;;;;;;;;;;;;;;;;; ; 000000000000000000N0oooooowo-oooowoowo 999999999999~9999999~~~~~~~~~~~~~~~~~~ 8 8888588%588CS lgC$jggS8~WO oowooooowooooowow~moboo~womoc56tici~u-irQc5tiai~tic6c4~6 Y’~.r-k=-t?=! 8 08NtWOmN-tWOWfNWNbOW .-WWWWNWWb,-NWC’,,.WmONOO WWNNNWv- 9 9 o? rrr m 7 ‘4 0-i 9 c9 c9 0 0 ‘4 b. 9 “. c9 ‘4 u? o? 9 7 7. ‘4 c ‘4 a0 9 9 “? (9 c? N cn N 9 9 c? wS8886f80m ww~o~mmt~twNwwm~f~Nww~wrnrnw~wwoww~~~~~~~~ - ~mcumotm0m-w~~ww~00~mwwuamm~7-m~~*~~w~~w~ ; ti ,-.j 0 d 0 m m~qqqm 0-o-m o~o~o~rn~w w-0-m o~o~~~w~rn ~~o~o~o~N~o~u7 0-w 0-m-b wmw.Ne-ar-moe G; GGc-5 F-G G _ rrN.- NN .-.-CU.- -- CU.-.-.- .-rrrrr N rr CU.-rNbN i? 00000000000000000000000000000000000000 99999999999499999999999999999999999999 8 00000000 00000000 00000000000000000000000000000000000000~~~~~~~~~~~~~~~~ 000000000000000000000000000000000000000000000000000000 8 9999999999999999999999999999999999999999~~~~~~~~~~~~~~ 9 oooooooooooooooooooooooooooo~owooooooooooooowoowoowooo 8 ooooo~moo % OObO~O~N~N~O~O~ W- .-- N- ONrNWN E zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz ooouooooooooooooouooooooooooooooouoooooo~~oooo~~oo~~o~ wwwwbwwwwmwwbm mmmmmmmmmmmmmm 8 bwwwwwwwbwwomwwbmht-~bwwwmmbmmmwom mmmmmmmmmmmommmmmmmmmmmmmmmmmmmom 8S!%8tSiii? mmmmmmmmmmmmmmmmmmmmmmmmmmommmmmmmmmmmmmmmmmmmomommomm 0000000 EXHIBIT 7 Fund Equity in Pooled Investments AS OF JULY 31,200O Cash Balance by Fund: General Special Revenue Debt Service Capital Projects: General Capital Construction Traffic Impact Fees Public Facilities Fees Park Development Transnet Taxes Drainage Fees Special Districts Other Capital Construction Enterprise: Carlsbad Municipal Water District Sewer Fund Solid Waste Golf Course Total Total Internal Service Redevelopment Funds (1) Agency Funds Misc. Special Funds Total General Ledger Balance l * 324,271,216 Amortization of discounts and premiums Deposits in transit Outstanding checks Wire in/(out) not recorded Other Net adjustments per bank statement Total adjustments (1,194,061) Total Treasurer’s Investment Portfolio 323,077,155 46,899,944 26,183,945 732,583 6,466,955 4655,258 32,568,488 6,841,921 10,341,316 6,931,855 56,134,232 4,500,057 128,440,082 40,965,627 51,082,464 2,935,018 2,363,058 97,346,167 12,748,171 0 11,920,324 0 (84,755) (1,109,305) (1) Redevelopment Fund Balances are interspersed throughout all funds. l * Figures based on best estimate at the time report run on 08/14/00. CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JULY 31,200O CORPORATE NOTE AND COMMERCIAL PAPER RATINGS Corporate Note Investments Meeting the Current Investment Policy: (RatinQSmust be AA or bet&r by both Moody’s and S&P) AMERITECH CAP BAYER CORP BAYER LND BANK CAMPBELL SOUP CO CITICORP CITIGROUP DUPONT GENERAL ELECTRIC CAPITAL GENERAL ELECTRIC CREDIT MERRILL LYNCH NATIONAL RURAL UTILITIES NORTHERN ILL GAS OHIO BELL TEL SOUTHWESTERN BELL TOYOTA TRAVELERS GROUP INC AA3 AA- AA2 AA AM AAA AA3 AA- AA3 AA- AA2 AA- AA3 AA- AAA AAA MA AAA AA3 AA- AA3 AA AA1 AA AA2 AA- AA2 AA- AAA AA1 AA2 AA- Commercial Paper Investments Meeting the Current Investment Policy: (Ratings must be Al/PI or better by both Moody’s and S&P) (Ratingmust be AA or better by Moody’s or S&P) SALOMON SMITH BARNEY HOLD P-l A-l GENERAL ELECTRIC CAPITAL P-l A-l - -* with -Jn Credit RjUg- ASSOC CORP AT&T BANC ONE CORP DONNELLY FCC NATIONAL BANK FIRST NATIONAL BANK CHICAGO FIRST USA BANK KAISER FOUND HSP NORWEST OKLAHOMA GAS & ELECT ST PAUL CO Moodv’s AA3 A+ Al AA- AA3 A Al A AA2 A+ AA2 A+ AA2 A+ A3 A AA2 A+ Al A+ Al A+ Other Debt: AA3 Other Debt: AA4 Latest 1 O/l 5103 06/01/01 03125102 12/01100 3/l 5101 5/08/00 11/01/01 03101 IO2 10115/00 08/l 3101 AA3lAA- 6,749,764 6,669,679 AA3/AA- 2,011.164 1,991,900 AA3/AA- 2,499,522 2,493,565 AA3/AA- 1,010,305 1,006,250 AA3lAA- 996,689 996,430 AfwAA- 1,999,922 1,997,640 AMMA 2,011,704 1,987,590 AA3iAA 899,850 890,400 AA3lAA- 6,639,753 6,595,556 AA3lAA 1,000,929 997,620 AAJIAA 1,001,149 992,850 Carrying EXHIBIT 8 Market * The City’s Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All of these investments are paying interest at the required times. The principal of all investments are considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. 13 CI I Y OF CARLSBAD INVESTMENT PORTFOLIu AS OF JULY 31,200O EXHIBIT 9 PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER AMERITECH CAPITAL ASSOCIATES CORP NA AT&T BANC ONE BAYER BAYER LND BK CAMPBELL SOUP CO CITICORP CITIGROUP DONNELLY DUPONT FCC NATIONAL BANK FIRST USA BANK FIRST NATIONAL BANK GENERAL ELECTRIC CREDIT (includes CP) KAISER FOUD HSP MERRILL LYNCH NATIONAL RURAL UTILITIES NORTHERN ILL GAS NORWEST OHIO BELL TEL OKLAHOMA GAS 8 ELECTRIC SALOMON SMITH BARNEY HOLDINGS (CP) SOUTHWESTERN BELL ST PAUL CO TOYOTA TRAVELERS GROUP INC Total Portfolio l No more than 5% may be invested with a single issue. Investment Cost Percent of PortfolIo* 1,843,969.81 0.57% 6,777,543.23 2.10% 2,044,620.00 0.83% 2,504,125.00 0.78% 1,291,375.00 9.40% 515512.50 0.16% 4,695,372.02 1.45% 1,006,100.00 0.31% 6,780,970.00 2.10% 1,145,610.90 0.35% 1,168,073.48 0.36% 975,690.W 0.30% 2,039,195.00 0.63% 1,998,120.00 0.62% 15,798,381.08 4.89% 954,187.50 0.30% 11,826,210.02 3.66% 3,727,967.96 1.15% 71q349.40 0.22% 6,686,269.00 2.07% 1,947,308.26 0.60% 1,012,500.clo 0.31% 3,914,460.00 1.21% 3,084,830.00 0.95% 1,004,920.00 0.31% 2,012,800.00 0.62% 1 ,105,341.85 0.34% $323,077,154.89