HomeMy WebLinkAbout2002-01-08; City Council; 16489; Report On City Investments 11/30/2001REPORT ON CITY INVESTMENTS
RECOMMENDED ACTION:
1 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 November 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 1 l/30/01.
The equity portion of the various funds at the amortized value of the total portfolio is
summarized below:
Fund Equity in Pooled Investments
Cash Balance by Fund:
General
Special Revenue
Debt Service
56,111,481
26,430,046
1.427.676
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.
Pooled Investment Interest Income
Cash Income Fiscal
Year-to-Date *
Current Prior
Month FYTD Month FYTD
9,465,188 7,745,485
Current Month
Income
1,719,703
*The cash income received is adjusted for any accrued interest purchased.
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. Second 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
Q)a ES 8n SO
,r
:I o>
s z
9 z
0
0
0
0
0
8 d
8 6
0
0
0
0
0
s
8 d
8 6
0
0
0
0
0
oa
3
EXHIBIT 2
EXHIBIT 3
EXHIBIT 4
-
i
-
s
z
>r
ii
k a
z r 9 z
s 7
8 n
> 0 Z
,s 0
-8
m - s a
2
EXHIBIT 5
roormo 8 ‘.j W- W- ti ; N-
000000 999990 88 8 006 s 000 9 9 9 9 9 9 s 88 8 0000~0 ni U-i ‘-,- W- ; ‘.j
-- 7%-r--r- oooog~
iSS:a*W =NNWO.-r wasa::: mv-7t-l-t-F
868 -5.. or-m E
c!BE -l-W %
Y--O &
0000 9999 8 gg 8888 s - - 9 9 9 9 9 gg 8885: ooow s t-6 xf -t- W- ni W- oi l-
EXHIBIT 6
3 ~~~mt9NooaaoNbmuB- bU3mNC’lNbNWaCDNmCD % Y8E% 3 ~.-~.-.-CDNCDCQ~CDO, ~NO~CDN-C,~N~W 3 foci.% 8 ;3i? 8R3
F ; ; P- r - 0 r 0 (D Q) Om CC- Nm C? -I.- ‘- .y W- O- We N- N- N- ‘I CC- CJ- C- Co “? ‘? Vm @? Q, Om bm Om Oe (4 (4 W- N- N- Om Om Om ” “? 9 N- ; ; t-- F- ; ; rrr---rrrrrr---rr yy-7 rrr-r--rrrrrr--7
c9t-0m00m-m0030lL3r0m0 c9cDooooa-*ooo~booo ~000~0rr~~0CON0~000000~0~
~999-9--m99~~9~99999~~~~
c)ooooooooo
d4drLuidddddejdrddtiti 000NhN~~~Ob0000rl- bw00m0rrm~0 c\qqqqq?q?q
I-bOt~t~@Ym*o 8 bWbOOOOkOU,~ON tkl-OOOONCDrOk m0000000w0
k q ‘f? 9 Cu ‘4 t =? “? 9 “! “? Y 9 9 9 0 ‘4 ” ‘v 9 9 E9 r- “‘m n? ‘9 ‘4 9 “? ‘-? a0 rC 9 9 9 “. ‘9 r. t “? 9
Q)moLDoooIobo 0 - * me cm q ” be mm ‘4
m~WmOr~WmW~~OmmdWW~m~~W~WOmWO~NWWOW~~~O~N~~~~~ wwwm)c)wQmom rrm~0NNNW0WN0mmmmWO~mmm~~ONN~~~WmN~~ f WQ)O~ON
0 N- (? (4 Q? N- .-- N- CO- W- C‘? “? v- KC,- C’,- t-7- (9 ‘4 00 D- ~-2~ ‘9 ‘4 OS ~-9~ CQm (? 0 (9 Ne ,-T- ‘T. .-- U,- “- S=- N- N- ” Ws -tm W- L” CC- We U? Y- i’$- 9 5 % fit %
mNNWNNrrOm~~rONrON~ON~~NNNNNN~NN~NNWN~N~~NN~~~~~~~~~~
;L
I 3 ~OmOOmNmW~OW-OmO~~OOO~m~ woqqqqqq~qq~qqqqq~q~~~~~ 8 OtO~N0~0000U-,0W00~CQ00WOOU3OOO ~.99~N999999~9~995~99~~~~~~~ ~~d~~~~~~~NO~NO~~~~~~O~~-~N~OO~W~OOOO~OWO~~~OO~OO~O~O
38% womo*o3moul rmo-wo ~WOtmON~rm~~f~0m0NmOO bWONC,N,.~~WW,.~~COCQWOOU, ~NCOOOOOWmWWCOr .-OOOU7WWNWbWb ;s .-~Wc)WNbWo3 C-,- U-i C,j ; a- b- ,,j ‘6 cd- b- O- +- ; 0‘ O- ,f,- C,- cd w- ; N- + (d (d ‘6 (d .-- U-i- O- W- ; a- 0- 0- W- r-- b- m- cd ,- cd ,-,- b- .-- O- Uj- “j- W- O- W- ,.- .--- ci rmr~~Wb~Wm~rmOWNWNNN~W~m~~W~O~~mW~~~NN~~W-N-~~mW~~m~m ~Nm~oNr~~~NWr~mmWW~W~WW~~~~~WN~~N~W~-N~~W~WWmW~~~~m~~N
s-r-omlcow-oco '-"e c? N. (9 S 9 T t-z 'Y (4 ooo~moooowbmu3com*00-0~--o*m * E9 '4 ". (? 9 rc _ 9 I‘. 9 r- '4 9 9 "? 9 I‘. 00 I‘ 'Y (3 '-. r- 9 9 I‘. 9 "! N. 9 t ". ~~~~~O~~~~~dN~W~OWN~~~OW~~WOO~O~-~~N~~OO~O~~O~~ omNbmwm~rNmomt~tNo~cvmmooa3omomowt-ooo*ommocom ot cx 9 9 v? 0-t m 9 c9 9 0 m o- m m oh me o- me rn- me o- (9 me rn- rn- mm o- m rn- 0, m os om me oe f o- me o- me rn- rn- o- o- b- o- 0, me om w- mm NrNtN.- F N N .-- ‘6 ‘., .-- P,FWN.-NC,FF.-.--N rr NNWN.tNC,m-rN‘-,C+,NC",NWWt-O.-
00000000000000000000000000000000000000000000 9999999999999999999999999999999999999999~~~~ 000000000000000000000000000000000000000000000000 0000 000000000000000000000000000000000000000000000000 000000000000000000000000000000000000000000000000 o- d d d 6 o- o- o- d o- d d ti II5 d o- d o- d d o- o- o- II5 d d d d d o- o- cc d d d d d ci 6 d o- o- o- d d d o- d d d d u-i o- oooomooowooo~~oooooooooooooooooooooooooooooooowoooooo 9 9 9 9 9 9 9 9 rc 9 v? 9 9 9 9 9 9 9 9 9 9 9 9 r- 9 9 9 9 9 9 9 9 9 9 9 9 9 ". 9 9 9 9 9 9 9 9 r- 9 9 9 9 r- 9 ~NNWNN~~NOrOrONr~N~*N~~~NNNNN-NN~NNWN~N~~NN~~*N~~~~~N
I! aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu
~~NNNNNNNNNNNNNNNNOO~~~~~~~~~~~~* 000000000000000000000000000000000 dXBBSXi3888XT38BBXBS3tz 00000000000000000000000000000000000000000000000000000 NNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN 3:sa . . . . ..~~.....~......~............... -WmNW~r~~NW~~~rNWWWO~~~WWNWWm~ .-N=~x-.--NV-NON.-.-ON.-N.-FT-ONOO--OO.-NNN ES mwcomr-SliZtiiiiiS~$~9Z~i3iZ
i3C3F-a . ..~~~~....2..~........... NOO.-O----NNNOON.-NN
--000000000000000-0000000000000--00000000000000-~~00 8 NNbWWWWW~COmOSN -op~wwwww~~rnrnAa=aa~~~~~~~~~~~~~~::.
8888 ~ommmmmmoommmmmmomommomommmoooomoomooo~oooooooooo 0mmmmmm00m~m~mm0m0mmomo~mm~ooom~-m----o 0FFVT-l-V-V-V
mmmmmommmmmmoommmmmmomommomommmoooomoom0ooooooooooooo -rrrrNrrrrrrNNrrr-~~N~N-~N~N~~~NNNN~NN~NNNNNNNNNNNNNN a::~~~....~...................................~...... LONW,.N,.WrQ)r WU,~NC9NUJUJrO,.~r ----wmr-u-loI-~w~wwi-wl-~ k-z.--T-k?
=~ee=.~.~..............~~....~......~..~~~~..~~~..~. 8 .-.--OrON.-OrOOrrNON 8 N00Nrr000NNNO 8 rorroooorr 8
SE388 8888888800
NY-OQ ~NOm~NNNN~WWNrNW~-rmW~NNm~~W~~~W~~mOO~~NO -00r0r0000%-0r00r-0000000000000000-~000-
3
8
owt-000000000 959999999999 0*w000000000 o~woooowoooo 9 ‘T (9 ro 9 9 9 k. 9 9 9 “. WNWOOOOWOWOb m0mw0w0lD0Nm* W- N- II-- UT- mm N- Oh (4 (4 LD --- - NCQNt-,“-JWt‘7rN6iWW-
I?
or-l-000000000
I
9’7999999999 88 mooooooooo r-oooowoooo 9 ‘4 a? LO 9 9 9 r- 9 9 9 Y WNWONOOOOWO,. ommwowoooNmln * w In w m N- o- 0 w w -y --- YF CF
~-?-e-e*~-?~~-e~~ 00000D00D0D ommoNooooooo WNOOrOOOOWNC, W.-0000000NU,W
dididdddddii
8FJ;5: 888888888 dd~ddddddddd o~wooooooooo 9 m (4 9 “. 9 9 9 9 9 9 9 ommot-oowoooo otm0m0000000 9 k 9 9 9 9 9 ? 9 9 9 9 NNr.-9WWtrNNU,h”
9999999999 0000000000 8::
3 g ooooooooodd
ooooooowoooo 9 9 00000000000 9 k 9 9 9 9 9 9 9 9 9 9 c? 4 9 9 9 9 9 9 9 9 omoooooooooo
NNNOWU-,trNNt‘,Q
Irrzrrrrrrzz uuuuuuuuuuuu
El aaaaaaaaaaaa uuuuuuuuuuuu
ggzzrrrrrrrr
0000 0000000 0000000 NNNNNNNNNNNN R&:a~z::aziFj~
rw*wr--Owl- Q)O)t-Nlc.-NNm 8 I- w b * m w m 0 w m - * UJ 4) T* w* t-y y -a- (4 I‘ m* 0 T-- ;;;T--v-v-v-;;;;%--F-v- r F t- - r F 7 r Y %-- I-- T.- ; T-- ;
bom--mN~bu3m+ ~~~Tm~~~NQ?~ 8 23 8 ~m*mf-mw*b00b000 ~wl-wowwf-~~q~qqaq WWrNh~W~oWdddd~~~d~d~~ NWWmtrW~~rW~OOrNO~~WWN 9; a:222 8E 0 (4 T. m 9 rU (4 s ro 7 w c? Y 9 9 7 9 9 (4 9 c? ‘4 f e 9 c9 c? w w w mom~Nm~m*wm~owwor-mNmw NNNNW”,WbWWW*,.mrmtWWwm ‘-9 W v) 03 N- We “- W “- U-B- I‘- CT- L”- V- -,- N- W- N- NW N- b- .-- ; ni ; ; ; .-- .-- ; ; ‘-j -C3N NrNWNNWrO--C’,O
~wm~~N~~~m~w~00w~w0~mw~~ow~wom , r’9-9N-9~9~s9999t~99~~~~.~~~~~~ ~morwr-rw m*Om~Nwm 8 C#~~gON-fOOWWU7wmwW
“. “? ‘J-t t 9 n! (4 a! -T o? W ‘-. “? 9 * 9 N. (4 (9 ‘J? 9 n! ‘? 9 r- ‘? “? c9 r- wmuawwo~~oommc9wdti
k;;s m~~mwow~om~~wm -JWC9WWbI-mWNTWW--
t~NrNNNO-trN~~r~OWW*QNNWNN mmmwmoNwmmmm~
0W00W0000000W00W0NNOOO~OO~O~O~ , 9999t999999S999~S9~~~~~~~~~~~~ OrW00000W00W~00W~NWNOOOW,WWOWO~
~~wwoomwmNmNoowo~wmmm* W,-bN”,OhfmONOWO wwwmwwN~mmowe7 -wmommm~ C,f ti C6 I-: aj C-i ,-,- “i ; U-j Q- 6 cd (d 6 ,.? d Q- + d r-‘ ‘6 m: W,- .$ k-j O- CO- s-j < oar-mwwmmm ~rm~r~~rWNrW-*mNrWW~~ Ov.--Wha, --~O~O~O~N-O~Lo 0-W OmmwOImb W~N~.-~b~O~m~-~O~O~OJ 0) ‘-N+ 7-r -v-.--v-,- N -Nr rrNWN-rOrf9 mm
00000000 00000000 8 000000000000000000000 000000000000000000000 ’ dddddddddddddddddddddddddddddd 000000000000000000000000000000 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 oooooooooooowooowomooooooooooo oooooooowooowoooool-moooooooooo 0 0 W 0 r 0 0 0 N 0 W 0 W Om Oe O- b O- N- “! O- O- O- O- O- O- O- O- Om O- ; ; ; ; ; .-- ; ; .-- ; +j 3-C9N NrNWNNWrC,r-C9C-2
4 zzzzzzzzzzzzzzzzzzzzzzzzzzzzzz ooooouooooooooooooooOOUOOOOOOO
000000000000000000000000000 E~NNN~~NNNNNNNNNNNNNNNNNNNNNNNN . . ..I or-wow~~:~~:~a:~::~~~~:~~~~::: 000NNrr~0000.-.-0.-00r~-~N~.-.-00~~
mmmmmmmmmmmmmmoommmomm r~-r-rrrrr-rr-NNrrrN-~NNNNNNNN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . WNttbWWWWmWmNObWNNNm-WOWmNW--W .-N.-NON.-rrOONr000~00r.-Y.--OO.-OON ~~~~~8:~~~~~~~a~a~~:~-~~:~~~~~ 00000-000r0000-oo--00 B -rrrrroo
OOWN c?=?r-u! o3I-wwbl-~wwNOOlr~ ?9”59kk”-.9994’9 88%i12 f NmONb--r-wwwOOwww WrWW~bbWWbOOCO0N 9 ‘Y “? r- n? 9 k v? -e ‘Y -‘m 9 “? Nm 9 0 =Je o! 9 mm NbrbNNbOWWrWbr ,-9‘O~CQWWNW-WbW WW”-,bWWc)N ; ; F- %-- e-
82887 . . spgg w-o-; -e-J- a!zz ihi2 ‘-i ti ti ni 0‘
~~~~~~~~~~~~~~~~~~~~~~~~~ oo*DoooooDDDDooooDDoOOODO ooooomoooool-oooooowoooooo NOOOv)c)OO *mooooom 8 oowoLnowo-oowoo 00CQ00~N~-rOr0~ 38 ti It5 rc’ cd rc’ rc’ cd ti cd b’ rc’ rc’ b’ rc’ cd cd cd co cd ti ui cd 6 i ti
~:s2,pg~ 8 wmoooowmoowoo -59999m999799 ~ti~~c6odc-4~ 8288;;c: 3 oowo
CONCOWWrWb8~fi8 lJ$ r.r aj d c-5 ; u-i 0; a- o- ci m- m- m: comt-O--mr0w00mm0 9 9 9 N. 9 9 9 ‘-. 9 9 r. Y 9 4 o? 9 9 Y a? 9 NN.-ONNNONN .-rC)ONNWc.-N
0000000000000000000000000 9499999999999999994999999 00000000000000000 00000000000000000 0000000
9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 8888888 ooowoooooo~wooooodddo-o-o-.5~ - 000b000000-t-0000000000000 0000000000--t00000w00ooooo “* ‘.j ‘.j ; ti +j (j t.j C-j ,-..j ,Wj ; ; ‘6 ti ,+ ‘.j 6 ; ‘.j ‘Xj C-i N- N‘ ,-j ,-i
zzzzzzzzzzzzzzzzzzzzzzzzz 00000000000000000000OOOOO 0000000
Fund Equity in Pooled Investments
AS OF NOVEMBER 30,200l
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 ** 372,503,335
Reconciling Adjustments 483,164
Total Treasurer’s Investment Portfolio at Amortized Cost 372,986,499
56,111,481
26,430,046
1,427,676
13,934,022
5533,441
32,486,309
8,164,413
8,689,528
7,845,614
69,548,515
II,31 8,696
157,520,537
48,652,607
55,708,538
3,536,865
2,138,929
110,036,939
12,868,466
0
8,108,190
0
(I) Redevelopment Fund Balances are interspersed throughout all funds.
** Figures based on best estimate at the time report run on 12/05/01
CITY OF CARLSBAD INVESTMENT PORTFOLIO EXHIBIT 8
AS OF NOVEMBER 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
ASSOCIATES CORP
BAYER CORP
CITIGROUP
COMMERCIAL CREDIT CO
CREDIT SUIS
DEAN WITTER DISCV
DUPONT
GENERAL ELECTRIC CAPITAL
HEWLETT-PACKARD
JERSEY CENT P&L
MERRILL LYNCH
MORGAN STANLEY DEAN WITTER
NATIONAL RURAL UTILITIES
NORTHERN ILL GAS
OHIO BELL TEL
PITNEY BOWES INC
SBC COMMUNICATIONS
SOUTHERN NEW ENGLAND TEL
SOUTHWESTERN BELL
Moodv’s s&l?
AA3 AA-
AA2 AA+
E AA-
AA2 iit
AA3 AA-
ix: AA- AA-
AA3 AA-
AA2 AA-
AA3 AA-
AA3 AA-
AA3 AA
AA1 AA
AA-
AA3 AA
AA3 AA-
AA3 AA-
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 SlkeMaturitvDatePurchased
BANC ONE CORP AA3 A 03/25/02 AA3fAA- 999,864
CAMPBELL SOUP CO AA3 A 10/01/03 AASAA- t,937,150
FIRST USA BANK A+ 12/03/O 1 AA2lAA 1,000,003
NORWEST AA2 A+ 03lO1102 M3lAA- 1,604,248
WACHOVIA CORP Al A+ 07/I 5105 AA3/AA- 4,018,931
Market
1 ,010,050
2,047,020
1 ,ooo,ooo
1,621,488
4,300,280
l 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.
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF NOVEMBER 30,200l
PERCENTAGE WE~GHTINGS BY CORPORATE NOTE ISSUER
ABN AMRO BANK
ALLSTATE FINANCIAL
ASSOCIATES CORP NA
BANC ONE
BAYER
CAMPBELL SOUP CO
CITIGROUP
COMM CREDIT
CREDIT SUIS
DEAN WITTER DISCV
DUPONT
FIRST USA
HEWLETT-PACKARD CO
JERSEY CENT P&L
MERRILL LYNCH
MORGAN STANLEY DEAN WITTER
NATIONAL RURAL UTILITIES
NORTHERN ILL GAS
NORWEST
OHIO BELL TEL
PITNEY BOWES INC
SBC COMMUNICATIONS
SOUTHERN NlEW ENGLAND TEL
SOUTHWESTERN BELL
TRAVELERS GROUP INC
WACHOVIA CORP
Total Portfolio
Investment Cost Percent of Portfolio*
4,228,884.98 1.13%
6,024,601.35 1.61%
9,953,528.13 2.67%
997,870.W 0.27%
1,291,375.00 0.35%
1,868,682.02 0.50%
8,372,495.00 2.24%
7,474,695.94 2.00%
3,109,140.66 0.83%
2,950,553.97 0.79%
1,168,073.48 0.31%
1,002,62O.CKl 0.27%
7,301,835.93 1.96%
2,974,560.00 0.80%
9,272,283.27 2.48%
15,789,131.03 4.23%
5,939,453.76 1.59%
715,349.40 0.19%
1,678,688.00 0.45%
1,947,308.26 0.52O/6
1,919,298.74 0.51%
4,058,275.56 1.09%
1 ,I 13,832.90 0.30%
3,151,155.18 0.84%
1,105,341.85 0.30%
4,023,404.94 I. 08%
$373,130,315.03
EXHIBIT 9
* No more than 5% may be invested with a single issue.