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Home My WebLink About2001-06-05; City Council; 16202; Report On City Investments As Of April 30, 20014B# &,&b&j MTG. 6/5/O 1 DEPT. TRS CITY OF CARLSBAD - AGENDA BILL REPORT ON CITY INVESTMENTS AS OF APRIL 30,200l CITY MGR: %%? 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 April 30, 2001 is summarized below. (1) The cost of investments adjusted for amortized premiums and discounts. (2) The amount at which the investments could be sold. Source of market values is Union Bank of California’s custodial report as of 4/30/01. The equity portion of the various funds in the market value of the total portfolio is summarized below: Fund Equity in Pooled Investments AS OF APRIL 30,200l ICash lnce by Fund: General Special Revenue 60,377,195 29.891.320 1 Debt Service 1.819.709 t I Caoital Proiects 140.920.344 I 1 EnterDrise 107.742581 1 Internal Service 12,514,058 Agency Funds lo,41 8,032 Reconciling Adjustments 539,058 Total Treasurer’s Investment Portfolio at Market Value 364,222,297 Fund equity balances are restricted for various purposes as listed above. See Exhibit 7 for a more detailed breakdown. PAGE TWO OF AGENDA BILL NO. I’$, mz- Cash Income Fiscal Year-to-Date * Current Prior Month FYTD Month FYTD 16,605,590 14,883,219 Current Month Income 1,722,371 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement Average Life (Years) Average Yield Modified Duration February 2001 1.66 6.25% 1.48 March 2001 1.52 6.23% 1.36 April 2001 1.61 6.12% 1.43 All pooled investments have been made in accordance with the City’s Investment Policy adopted January 2, 1985 and last revised January 9, 2001. 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. Fourth 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 EXHIBIT 1 s 2 Is i? I-- 28 W<u E d y”r P% za aL mo 3% PL 9 9 z s Z 0 0 0 0 0 8 d 8 d 0 0 0 0 0 EXHIBIT 2 $ d 0 0 0 8 0 $ d 0 0 0 s 9 0 0 0 0 4 EXHIBIT 3 L _ ?fL _ % _ 4 0 - % 4 I 4% - *a/ _ 4 0 - % /, I YL - *e/ _ 4 0 - % 1 ?iL - e&L _ I’a 0 - ‘% I YiL - %& _ 4 0 - % : YL - @@/ 5 EXHIBIT 4 d) E 0 0 a t I 0 I 0 0 3-1 F4 t -I- I 5 7 5 7 -k a s -9 0 -8 > ‘iii! F a 3 7 EXHIBIT 5 . . $$?$$SS$ $? 0000000 (z)mQ)Q)(30rC cnoqoqcq~nq~ 8 mmmmlnu2m u5 8888888 ddddddd 8 s 0000000 9 9 9 9 9 9 9 Q Q - . 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(D t 7 ‘? ~Z~ 86;; Q) 8 _ a9 rC f---W ~~$W~X~~~~~~60~~~~%~~~8~~~~~~~88~~8 e tic.5 u-i 66; ;;_ 7 0 W 0 W 0 UI 0-a I- CO- We Ne t--- ” Om CJBm -- O-O- Q) a, -y Om Om N-O-O- Om O- --O- Om a- ‘c- O-O- ; t.j .-- ‘.j ; mm 8Zrn Nr.-NWNrWrO ON-ONNNN-OCQNONN 8 %-- 0-J 0 000000000000000000000000000000000 0 08000000000000000000000000000000000 q oow ddddddddddddddddddddddddddddddddddd q-trn 00000000000000000000000000000000000 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 4 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 8 272 9 o? r- k kY-=(4 0 m ooowooowoowoooooooooooowoooo~oooooo ooow 0w0w800,.00NN00000000oo0ooooo.-o00ooo ooooor-moooooooooooboooo~oooooo z=?E?% ; ,- ;titi ~~;~6~~6;~;;~~;~~~~~~~~~~~~ - w c9 Ta? s 9 _ 6 EXHIBIT 7 Fund Equity in Pooled Investments AS OF APRIL 30,ZOOl 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 * Reconciling Adjustments Total Treasurer’s Investment Portfolio at Market Value 60,377,195 29,691,320 1,819,709 10,713,554 5,675,815 30,250,924 7,734,712 11,670,409 7,010,044 65,729,713 2,135,174 140,920,344 46,109,644 56,299,837 3,302,292 2,030,808 107,742,581 12,514,058 0 10,418,032 0 363,683,239 539,057 364,222,297 (1) Redevelopment Fund Balances are interspersed throughout all funds. ** Figures based on best estimate at the time report run on 5/l 5/01 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF APRIL 30,200l CORPORATE NOTE AND COMMERCIAL PAPER RATINGS Corporate Note Investments Meeting the Current Investment Policy: (Ratings must be AA or better by both Moody’s and S&P) ABN AMRO BANK ALLSTATE FINANCIAL AMERITECH CAP ASSOCIATES CORP BAYER CORP BAYER LND BANK CITICORP CITIGROUP COMMERCIAL CREDIT CO DEAN WIITER DISCV DUPONT GENERAL ELECTRIC CAPITA HEWLETT-PACKARD JERSEY CENT P&L MERRILL LYNCH MORGAN STANLEY DEAN WI NATIONAL RURAL UTILITIES NORTHERN ILL GAS OHIO BELL TEL PITNEY BOWES INC SBS COMMUNICATIONS SOUTHERN NEW ENGLAND SOUTHWESTERN BELL TOYOTA TRAVELERS GROUP INC AA3 AA- AA2 AA+ AA3 AA- AA3 AA- AA2 AA AAA AAA AA3 AA- AA2 AA- AA3 AA- AA3 AA- AA3 AA- AAA AAA AA2 AA- AAA AAA AA3 AA- AA3 AA- AA3 AA AA1 AA AA2 AA- AA3 AA AA3 AA- AA3 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) (Ratings of other debt must be AA or better by Moody’s or S&P) NONE Investments with Subsequent Changes in Credit Rating * Latest Carrying Moodv’s SZheMaturihrDatePurchased AT&T A2 A 06/01/01 AA3lAA- 2,001,116 2,002,500 BANC ONE CORP AA3 A 03/25/02 AAJIAA- 999,614 CAMPBELL SOUP CO AA3 A+ 10/01/03 AA3lAA- 4,792,147 FIRST USA BANK AA2 A+ 12/0310 1 AAPIAA 2,003,493 KAISER FOUND HSP A3 A 11/01101 AAJIAA 864,940 NORWEST AA2 A+ 03101 I02 AAJIAA- 2,622,366 ST PAUL CO Al A+ 06/l 3101 AAJIAA 1.000,315 WACHOVIA CORP Al A+ 07/I 5105 AAJJAA- 4,021,430 Market 1,018,OlO 4,971,900 2,020,860 889,910 2,662,804 1,006,730 4,153,620 EXHIBIT 8 l The My’s Investment Potii allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All of theae investments are peying 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 aold. CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF APRIL 30,200l PERCENTAGE WElGHnNGS BY CORPORATE NOTE ISSUER ABN AMRO BANK ALLSTATE FINANCIAL AMERITECH CAPITAL ASSOCIATES CORP NA AT&T BANC ONE BAYER BAYER LND BK CAMPBELL SOUP CO CITIGROUP COMM CREDIT DEAN WITTER DISCV DUPONT FIRST USA BANK GENERAL ELECTRIC CREDIT HEWLETT-PACKARD CO JERSEY CENT P&L KAISER FOUD HSP MERRILL LYNCH MORGAN STANLEY DEAN WITTER NATIONAL RURAL UTILITIES NORTHERN ILL GAS NORWEST OHIO BELL TEL PITNEY BOWES INC SBS COMMUNICATIONS SOUTHERN NIEW ENGLAND TEL SOUTHWESTERN BELL ST PAUL CO TOYOTA TRAVELERS GROUP INC WACHOVIA CORP Total Portfolio Investment Coat Percent of Portfolio* 4,228,084.96 1.18% 6.024,601.20 1.67% 1,643,969.61 0.51% 10.945,306.13 3.04% 2.044.620.00 0.57% 997.670.00 0.26% 1,291,375.00 0.36% 515,512.50 0.14% 4,695,372.02 1.30% 6.760,970.00 1.66% 4,197,556.00 1.17% 2.950,553.97 0.62% 1,168,073.46 0.32% 2,039.195.00 0.57% 7,008,616.06 1.95% 7,301 J35.93 2.03% 2,974.56o.w 0.63% 954,167.50 0.27% 9,272,283.27 2.56% 4,106,636.86 1.14% 1,731,047.96 0.48% 715.349.40 0.20% 2,759.726.W 0.77% 1,947,308.26 0.54% 1,919.298.74 0.53% 2sO79.537.56 0.56% 1 ,113,832.96 0.31% 1.053,950.00 0.29% 1,004,920.06 0.26% 2,012,6W.W 0.56% 1 ,I 05,341 .a5 0.31% 4.023,404.94 1.12% $359,853,166.94 EXHIBIT 9 l No more than 5% may be invested with a single issue.