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HomeMy WebLinkAbout2009-01-27 City Council Agenda Item No. 4 CITY OF LA E L KE SINO1 E DREAM EXTREME,., REPORT TO CITY COUNCIL TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: ROBERT A. BRADY CITY MANAGER DATE: JANUARY 27, 2009 SUBJECT: INVESTMENT REPORT — DECEMBER 2008 Discussion The Investment Report is a listing of all funds invested for the City as of the date shown on the report. Recommendation Receive and file. I Prepared By: James R. Rile w�1 Acting Director ordministrative Services Approved By: Robert A. anager Brady ``�� Agenda Item No. 4 Page 1 of 12 CITY OF LAKE ELSINORE INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF DECEMBER 31, 2008 BANK DEPOSITS OUTSTANG. BOOK ACTIVE ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank of America - General $2,357,384.14 (995,028.45) 1,362,355.69 Reconciling Items - - 0.00 Bank of America - Payroll 14,166.35 - (2,327.00) 11,839.35 Bank of America - Flex Benefit 16,091.03 (286.87) 15,804.16 Total Active Accounts 2,387,641.52 0.00 (997,642.32) 1,389,999.20 INVESTMENTS Local Agency Investment Fund 15,169,577.83 - - 15,169,577.83 Bank of New York -Trust Sweep Account 4,238,577.46 - - 4,238,577.46 Bank of New York - Medium Term Corporate Notes 2,007,800.00 - - 2,007,800.00 Federal Farm Credit Bank 2,000,000.00 - - 2,000,000.00 Federal Home Loan Mortgage Corp. 3,000,000.00 - - 3,000,000.00 Federal Home Loan Bank 2,000,000.00 - - 2,000,000.00 Federal National Mortgage Association 2,000,000.00 - - 2,000,000.00 Sub -total Investments 30,415,955.29 - - 30,415,955.29 Unrealized Gain/ (Loss) at 6 -30 -08 per GASB 31(LAIF) (1,974.00) (1,974.00) Unrealized Gain/ (Loss) at 6 -30 -08 per GASB 31 (Other) 33,113.00 33,113.00 Unrealized Gain/ (Loss) at 6 -30 -08 per GASB 31 (Total) 31,139.00 31,139.00 Total Investments 30,447,094.29 - - 30,447,094.29 32,834,735.81 - (997,642.32 31,837,093.49 Cashier Drawers #1 & #2 300.00 City of Lake Elsinore Petty Cash Fund 1,000.00 TOTAL POOLED CASH AND INVESTMENTS $31,838,393.49 I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 24, 2008. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. James R. Riley January 27, 2009 Acting Director of Administrative Services Date Prepared by: J. Riley, Finance Manager Agenda Item No. 4 Page 2 of 12 CITY OF LAKE ELSINORE POOLED CASH AND INVESTMENTS BY FUND AS OF DECEMBER 31, 2008 FUND NO FUND NAME AMOUNT 100 General Fund 3,146,455.35 101 Supplemental Law Enforcement Fund 192,817.35 102 Local Law Enforcement Block Grant Fund 11,365.77 103 Office of Traffic Safety Fund - 104 Traffic Offender Fund 70,457.90 106 Affordable Housing In Lieu Fund 1,016,404.32 107 Developer Agreement Revenue 3,074,895.11 110 State Gas Tax Fund 1,639,553.71 112 Transportation Fund 918,816.96 115 Traffic Safety Fund 561,420.22 116 City Hall - Public Works DIF Fund 901,970.26 117 Community Center DIF Fund 116,984.24 118 Lake Side Facility DIF Fund 252,013.13 119 Animal Shelter DIF Fund 393,748.99 120 Camino Del Norte DIF 32,735.07 130 Lighting & Landscape Maintenance Fund (1,025,623.93) 135 #1 Lighting & Landscape Maintenance Fund 166,909.05 140 Geothermal Fund 17,880.64 150 C.D.B.G. Fund (109,849.58) 201 Street C.I.P. Fund 12,770.91 204 Signal C.I.P. Fund 119,570.52 205 Traffic Impact Fee Fund 3,378,673.22 211 Storm Drain C.I.P. Fund 5,484,276.55 221 Park C.I.P. Fund 1,109,731.07 231 Library C.I.P. Fund 1,282,724.71 232 City Fire Protection Fund 714,535.08 254 AD 89 -1 Railroad Canyon Rd. Improvement Fund 128,214.71 259 CFD 90 -3 Construction Fund 677.27 267 CFD 2006 -1 Summerly (1,570.00) 272 CFD 2005 -2 CIP Fund 849.09 351 AD 87 -2 Debt Service Fund 49,522.50 352 AD 86 -1 Debt Service Fund 81,094.23 353 AD 89 -1 Debt Service Fund 49,146.68 356 AD 90 -1 Debt Service Fund 196,139.27 357 CFD 2003 -2 Canyon Hills 188,987.13 358 CFD 91 -2 Debt Service Fund 10,529.67 360 AD 93 -1 Debt Service Fund 912,541.98 362 CFD 95 -1(96 Srs.E) Debt Service Fund 197,761.37 363 CFD 88 -3 / 1997 Series F Debt Service Fund 93,312.57 365 CFD 98 -1 Summerhill Improvement fund 222,452.44 366 CFD 2004 -1 Debt Service Fund (13,627.94) 367 CFD 2005 -3 Summerly / Laing (20,472.23) 368 CFD 2004 -2 Vista Lago 239,214.43 369 CFD 2004 -3 Rosetta Canyon 14,604.17 370 CFD 2005 -x Camino Del Norte 4,050.38 371 CFD 2005 -1 Serenity (123,052.66) 372 CFD 2005 -3 Alberhill Ranch 42,498.60 373 CFD 2005 -5 Wasson Canyon 235,002.52 374 CFD 2005 -4 Lakeview Villas 53,669.71 375 CFD 2005 -1 D. Clurman 44,357.57 376 CFD 2005 -7 La Strada (1,621.44) 377 CFD 2006 -X Tessara 43,731.34 378 CFD 2007 -X TR #31957 59,312.66 379 CFD 2007 -X Marina Village 407.45 380 CFD 2006 -9 Tuscany W 480.60 381 CFD 2006 -10 River LK 55,263.31 382 CFD 2006 -9 Trieste 73,509.76 383 CFD 2007 -X Canyon Hills 63,889.03 384 CFD 2003 -2 SRS 2006A 76,265.61 385 CFD 2004 -3 SRS 2006A (122,693.48) 386 CFD 2007 -4 Mekenna (24,703.75) 388 CFD 2007 -6 Holiday (604.80) 389 CFD 88 -3 Series 2008 455,144.67 604 Endowment Trust Fund 16,592.57 605 Public Improvement Trust Fund 543,223.49 606 Mobile Source Air Polution Fund 260,327.47 608 Trust Deposit & Pre Paid Expense 1,337,781.78 610 Kangaroo Rat Trust Fund 1,525.50 611 Developer Agreement Trust Fund 1,619,290.00 616 Fire Station Trust Fund 16.32 620 Cost Recovery System Fund 1,206,525.50 650 CFD 2003 -1 Law & Fire Service Fund 82,831.23 652 CFD 2007 -1 Law & Fire 4,758.60 Total Pooled Cash & Investments 31,838,393 Item No. 4 Page 3 of 12 CITY OF LAKE ELSINORE INVESTMENT ACTIVITY SUMMARY FOR THE MONTH ENDING DECEMBER 31, 2008 Total outstanding investments as of November 30, 2008 $ 31,100,705.29 PURCHASE MATURITY/ COUPON YIELD TO DATE CALL DATE RATE MATURITY COST Investment Purchases: Med Term Corp Note 36962GZ31 12/02/08 10/27/09 5.250% 5.250% 1,002,360.00 Total Purchases 1,002,360.00 Investment Maturities: Total Maturities - Investments Called: FHLMC 3128X7ZU1 06/12/08 12/12/08 4.625% 4.625% (1,000,000.00) FHLMC 3128X7YG3 06/26/08 12/26/08 4.750% 4.750% (2,000,000.00) Total Calls (3,000,000.00) Net increase (decrease) in LAIF (800,000.00) Net increase (decrease) in Sweep Account 2,112,890.00 Total outstanding investments as of December 31, 2008 $ 30,415,955.29 Agenda Item No. 4 Page 4 of 12 CITY OF LAKE ELSINORE QUARTERLY INVESTMENT ACTIVITY SUMMARY FOR THE QUARTER ENDING DECEMBER 31, 2008 Total outstanding investments as of September 30, 2008 $ 37,058,713.65 PURCHASE MATURITY/ COUPON YIELD TO Investment Purchases: DATE CALL DATE RATE MATURITY COST FFCB 31331GDW6 11/04/08 11/04/13 5.200% 5.200% 2,000,000.00 Med Term Corp Note 36962GZ31 12/02/08 10/27/09 5.250% 5.250% 1,002,360.00 Total Purchases 3,002,360.00 Investment Maturities: Total Maturities - Investments Called: FHLB 3133XMTD3 11/07/07 11/07/08 5.000% 5.000% (1,000,000.00) FHLMC 3128X7ZU1 06/12/08 12/12/08 4.625% 4.625% (1,000,000.00) FHLMC 3128X7YG3 06/26/08 12/26/08 4.750% 4.750% (2,000,000.00) Total Calls (4,000,000.00) Net increase (decrease) in LAIF (8,783,146.58) Net increase (decrease) in Sweep Account 3,138,028.22 Total outstanding investments as of December 31, 2008 $ 30,415,955.29 Agenda Item No. 4 Page 5 of 12 I�F-/I W M M M M M 01 M M M F�.1 d ¢ o 0 0 0 0 0 0 CA CA NI 0 0 u F A z z o■ tin 9--. 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O O o 0 0 0 0 -• . 4 x U z .. A ON ON ON o, ON ON ON y 3 0 z d' a F d d 00 d o N S N g hi d N N N ' z z to) U A z z N z N a -,- 0 z 0 o ao N -8 " 'q 0 0 0 0 0 0 00 o 0 F F 0 ° - o ° U 0 0 0 x H d d S •E g g S g g g g g E o O O U Q Z Z e o a -- - 0 0 0 00 c E. E w „ A y -4 y 0 0 © © © © © e, C o4 K' Q. a, a a 6 it S g a 0 a so 0 r '0 r v 00 o � rx h M M R a o M F a7.. � o Q H a1go �,n 0 a���xxChA 4_, 0 0 E6 Q a N w X X X w C� H a a. , aC %0 00 00 0 00 , D a < < W Z N M M M M M O M M M O O W W d ' a a a as Z I a a C.) 0 0 E E. a o Q o 0 0 o< a pq Z w >, Z d U U z U 4 ) v 4) W C d .O. 1 N OOA SA :: X 04 c 1 E N .g a) 0 N c0 0 m b a 'Cl E. N W y � y o o > h > o o 0 0 0 0 d 5 a z w U a a a U a ° h a o o o o o 04� xzxx xzw w o 00 i v �` : M s ,ce. To: 0 y F N • Q W N N i W W W w [ 1 W W E 0 v 0 Agenda Item No. 4 Page 9 of 12 8 8 8 8 8 8 8 8 z g o O e o g o g 0 g g g g g g g g U N -. •- ■ -. N T T T T T T T T a a W O O O O O O O Q O O O O O O O Qi N N N N N N N F /� 0. , .0 O V A ,D O 0 = N N O 0 O 0 O O O F O A • ,4 ° ° 8 n 8 a h N O N M N W U v h , r1 h h h h H A • IA n 0 fq 8 O g- g W v vi v1 vi vi v vi z 0& sk e e e e O O 15,:' h W p " h N 0 M -N N C4 c 0 V V, N r��/� • a M N..1 r 1 M M M M M M M I) ~1 C I+ E.I M O O O O O O O W ";:=, g N N N N N N N A T W W n v W O O O O O O O O O O W4 OP 4 4 CA W 00 00 00 00 00 00 00 a .4 T\ O O O O O O O `/ x F O O O O O O O ;.1 W N N N N N N N T oo 00 � � V1 7 O 4 A g A 0 0 0 0 • U w a 0 0 0 0 0 0 0.* CA d1 W .G M E. . M C{ Cn • 0 r-- 0, X Q U X X ". X X 00 `JD U • � M N M M N N M z M M M M M M M FT* z W U ¢ ¢ U U O pa act • W w w w-. w w w z U G U -a ...- . ] ...] a a V1 H d N U ci V U 6 U z 0 N a) Z.1 ek U7 h - 5 C ' fit, Q H E £ 6 E 174 >, > > 71 > >, o == .5 .5 o a'" z C7 a a 0 a — 0. cd W 0.1 Led CI t° b° o o eu o ° N ° G 0 Agenda Item No. 4 Page 10 of 12 CITY OF LAKE ELSINORE SUMMARY OF POLICY LIMITATIONS AS OF DECEMBER 31, 2008 CURRENT PERCENTAGE BASED ON MARKET VALUE MAXIMUM DESCRIPTION AS OF DECEMBER 31, 2008 PERCENTAGE U.S. Treasury Bills 0.00% UNLIMITED U.S. Treasury Notes 0.00% UNLIMITED Federal Agency Issues: FICB 0.00% UNLIMITED FFCB 6.58% UNLIMITED FLB 0.00% UNLIMITED FHLB 6.65% UNLIMITED FNMA 6.57% UNLIMITED FHLMC 9.86% UNLIMITED Banker's Acceptances 0.00% 40.00% Certificates of Deposit 0.00% 25.00% Negotiable Certificates of Deposits 0.00% 30.00% Commercial Paper 0.00% 15.00% Medium Term Corporate Notes 6.69% 30.00% Repurchase Agreements 0.00% UNLIMITED Reverse Repurchase Agreements 0.00% 20.00% LAIF (Local Agency Investment Fund) 49.75% UNLIMITED Current Balance $ 15,169,577.83 Bank of New York - Trust Sweep Account 13.90% UNLIMITED Current Balance $ 4,238,577.46 TOTAL 100.00% % of Portfolio Maturing within one year 67.11% no less than 25% of Portfolio Maturing or Callable within one year 96.70% Note: Local agencies are only eligible to purchase medium term corporate notes that have a rating of "A" or better by both Moody's Investors Service, Inc., and Standard and Poor's Corporation (S & P). If a security falls below "A" by both rating agencies, then the Director of Administrative Services will evaluate the need to sell the security prior to maturity. The medium term corporate notes purchased by the City have the following ratings: Bank of New York Mellon Moody: "Aa2" S & P: "AA -e" General Electric Cap Corp Moody: "Aaae" S & P: "AAA" Agenda Item No. 4 Page 11 of 12 CITY OF LAKE ELSINORE PERCENT OF PORTFOLIO INVESTED IN FEDERAL AGENCIES JULY 2005 THROUGH DECEMBER 2008 (INCEPTION TO DATE) TOTAL % OF % OF PORTFOLIO BY AGENCY PORTFOLIO IN MONTH FFCB FHLB FHLMC FNMA FEDERAL AGENCIES July 2005 0.00% 0.00% 0.00% 0.00% 0.00% August 2005 0.00% 0.00% 3.33% 0.00% 3.33% September 2005 0.00% 6.23% 3.12% 0.00% 9.35% October 2005 0.00% 14.23% 2.85% 0.00% 17.08% November 2005 0.00% 18.82% 2.69% 0.00% 21.51% December 2005 0.00% 22.92% 2.86% 0.00% 25.78% January 2006 0.00% 20.74% 2.59% 0.00% 23.33% February 2006 0.00% 21.01% 2.62% 0.00% 23.63% March 2006 0.00% 20.49% 2.55% 0.00% 23.04% April 2006 0.00% 20.59% 2.57% 0.00% 23.16% May 2006 0.00% 19.94% 2.49% 5.02% 27.45% June 2006 0.00% 24.91 % 1.91 % 3.85% 30.67% July 2006 0.00% 25.26% 1.93% 3.90% 31.09% August 2006 0.00% 28.57% 2.19% 4.41% 35.17% September 2006 0.00% 26.17% 2.37% 4.77% 33.31% October 2006 0.00% 26.26% 2.38% 4.79% 33.43% November 2006 0.00% 24.69% 2.46% 0.00% 27.15% December 2006 0.00% 28.04% 2.54% 0.00% 30.58% January 2007 0.00% 27.59% 2.12% 0.00% 29.71% February 2007 0.00% 26.60% 2.21% 0.00% 28.81% March 2007 0.00% 32.82% 4.68% 0.00% 37.50% April 2007 0.00% 30.05% 4.73% 0.00% 34.78% May 2007 0.00% 31.17% 4.80% 0.00% 35.97% June 2007 0.00% 36.37% 4.28% 0.00% 40.65% July 2007 0.00% 36.07% 4.25% 0.00% 40.32% August 2007 0.00% 41.34% 2.43% 0.00% 43.77% September 2007 0.00% 39.24% 0.00% 0.00% 39.24% October 2007 0.00% 31.02% 0.00% 0.00% 31.02% November 2007 0.00% 29.61% 0.00% 0.00% 29.61% December 2007 0.00% 28.06% 0.00% 0.00% 28.06% January 2008 0.00% 16.79% 0.00% 0.00% 16.79% February 2008 0.00% 11.72% 0.00% 0.00% 11.72% March 2008 0.00% 11.72% 0.00% 0.00% 11.72% April 2008 0.00% 9.66% 0.00% 0.00% 9.66% May 2008 0.00% 9.20% 0.00% 0.00% 9.20% June 2008 0.00% 12.36% 2.06% 0.00% 14.42% July 2008 0.00% 13.06% 6.55% 4.36% 23.97% August 2008 0.00% 15.60% 10.42% 5.20% 31.22% September 2008 0.00% 13.54% 10.85% 5.40% 29.79% October 2008 0.00% 15.60% 12.54% 6.25% 34.39% November 2008 6.46% 12.94% 12.89% 6.44% 38.74% December 2008 6.58% 6.65% 9.86% 6.57% 29.66% AVERAGE 0.31% 21.13% 3.29% 1.45% 26.19% Agenda Item No. 4 Page 12 of 12