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HomeMy WebLinkAbout4.02 Invest Report 2nd QtrOF Dp�l —SO 82 O�LIFOR��� STAFF REPORT CITY CLERK DUBLIN CITY COUNCIL File # ❑ 3002 OI-©[01 DATE: February 1, 2011 TO: Honorable Mayor and City Councilmembers FROM: Joni Pattillo, City Manager SUBJEC City Treasurer's Investment Report for 2nd Quarter 2010-2011 Prepared By: Paul S. Rankin, Administrative Services Director EXECUTIVE SUMMARY: The City's investment portfolio totals $103,312,201 (par value). As of December 31, 2010, funds were invested at an average yield of 1.478%. The portfolio includes both discretionary and restricted funds and the balance will fluctuate throughout the year. The report presented provides background on the City investment portfolio as well as the investment results as of December 31, 2010. FINANCIAL IMPACT: Investments are made in accordance with the City Investment Policy and State Law. Interest earned is apportioned between the Funds (i.e. General Fund, Gas Tax Fund, etc) based upon the proportionate share of the total cash balance. The current earning rate is below the 1.73% projection in the Fiscal Year 2010/2011 Budget Projection. Actual revenue results will also be impacted by fluctuations in the Total Funds invested. RECOMMENDATION: Receive the Quarterly Investment Report. 6�j �- Submitted By: Administrative Services Director e�� � Reviewed y: Assistant City Manager DESCRIPTION: The format of the quarterly report consists of the following components: Section I — Portfolio Information • Portfolio Summary (Includes the Par Value; Market Value; and Yield) • Portfolio Details (Includes a listing of individual securities and investments) • Investments By Type (Includes a listing of Federal Securities including call date if applicable) Section II — Investment Charts Section III — Listing of Investment Transactions by Month i Page 1 of 4 ITEM NO. 2 6�91 V 2nd QUARTER RESULTS As shown on the Portfolio Summary the total investments as of December 31., 2010 were approximately $103.3 million. The "Yield to Maturity" was calculated at 1.478% and the weighted average maturity of the portfolio was 472 days (1.29 years). The report also displays the weighted average maturity based on the "Call Date". If all securities were assumed to be called the portfolio average maturity drops to less than one year at 295 days. The Market Value as of December 31, 2010 was approximately $1.25 million more than the Par Value (Par Value =$103,312,201 and Market Value =$104,563,129). The Par Value is the "face value" or principal amount at maturity of the note or bond. The typical investment approach used by the City is to hold investments until maturity. The City does not actively sell securities prior to their maturity. In the current market, the premature liquidation of a security would result in less interest income upon reinvestment, diluting any gain achieved from selling the investment prior to its stated maturity. The following Table displays the comparative results based on information in the Portfolio Summary for the most recent five quarters. This allows for a comparison to the most recent quarter as well as the same three month period one year ago. As noted in Table 1, the total portfolio is approximately $9 million more than one year ago. The total portfolio will fluctuate between fiscal years based upon: planned expenditures, fluctuations in revenue collected, and differences in timing of both revenue and expenditures The average maturity of the investments held has increased over the past quarter from 363 days to 472 days. The average maturity of .the portfolio one year ago was approximately relatively unchanged (1.26 years in December 2009 and 1.29 years in December 2010). During the last quarter longer term investments were purchased to attempt to compensate for the continued decrease in short-term rates. Current projections made by investment managers suggest that increases in the Federal short term rates are not expected until well into 2011. The short term holdings (funds invested for one year or less) are approximately $4.5 million less than the reported at September 30, 2010. Page 2 of 4 Table 1: COMPARISON OF PORTFOLIO MEASURES Most Recent Five Quarters INVESTMENT ACTIVITY DURING THE SECOND QUARTER This section of the report discloses changes in individual securities due to Maturities, Called Securities, and New Investments. A total of $ 5,000,000 in securities either matured or were called during the quarter. As shown below one transaction was due to a maturing investment, and two securities were called prior to the stated maturity date. ~ TABLE Z: INVESTMENTS MATURED DURING THE SECOND QUARTER Five new investments with a combined par value of $18,000,000 were purchased during the second quarter. TABLE 4: INVESTMENTS PURCHASED DURING THE SECOND QUARTER Three of the securities which were purchased have call provisions as shown in the Table above. ,The effective yield is more than the stated coupon for four of the securities. These securities were purchased at a discount. For example, the first security shown in the Table above indicates a"coupon rate" of 2.125% and an effective yield of 2.17%. The $2,000,000 face value bonds were purchased for $1,995,740 and factoring this in results in a slightly increased yield. Securities can sell for either a premium or discount depending on the market on the day the security is purchased. The "premium" or "discount" is allocated over the life of the investment in the City accounting records. Page 3 of 4 TABLE 3: INVESTMENTS CALLED DURING THE SECOND QUARTER * FHLB = Federal Home Loan Bank; FFCB = Federal Farmers Credit Bank; FNMA = Federal National Mortgage Association or "Fannie Mae" COMPOSITION OF PORTFOLIO Section II of the Report contains charts which assist with reviewing the portfolio. The Charts focus on key factors to monitor including the investment maturities as well as the composition of the portfolio. The following are key highlights of the portfolio: • At December 31, 2010, 43.71 % of the portfolio was immediately available in the Local Agency Investment Fund (LAIF) and Money Market instruments; this is 9.62% less than reported as of September 30, 2010. • Federal Agency Securities represented 56.29% of the Portfolio, which is a 9.62% increase from the percentage reported as of June 30, 2010. • There was diversity in the issuers of the federal securities held in the portfolio. A total of four different issuers were represented. (FHLB - 68%; FFCB-15%, FHLMC-10% and FNMA-7%). • 48% of the funds are invested for one year or less compared to 60% reported in this category as of September 30, 2010. • 10% of the funds are invested in securities with maturities of 3 years or more, compared to 2% reported in this category as of September 30, 2010. MONTHLY TRANSACTIONS Section III of the Report provides a list of transactions related to investments in the City portfolio for each month of the second quarter (October, November and December). This schedule provides compliance with the Government Code requirement to disclose monthly transaction data. It is incorporated as part of the quarterly investment report rather than individual monthly reports. RECENT TRENDS COMPARED TO BUDGET There have been significant downward trends in interest rates. For Budget purposes the Fiscal Year 2010-2011 Budget assumed that LAIF would generate a rate of at least 0.50%. As noted below the rate for the second quarter did not achieve this threshold. The following Table shows the deterioration in short-term rates at LAIF over the past year and they have continued to decline, however, they remain higher than other short-term investment options. TABLE 5: Local Agency Investment Fund (LAIF) Quarterly Rate The current trend in the market has been a continued climate of low interest rates. In terms of new issues of Federal Agency Securities there have been fewer new issues and most are at rates below those of securities currently held in the City portfolio. NOTICING REQUIREMENTS/PUBLIC OUTREACH: None ATTACHMENTS: Quarterly Investment Report for the Period Ending December 31, 2010 Page 4 of 4 ~~ ~i CITY OF DUBLIN QUARTERLY INVESTMENT REPORT Second C~uarter Fiscal Year 2010-2011 Decern ber 31, 2010 Report Prepared January 19, 2011 Report Presented To City Council February 1, 2010 Section I - Portfolio Information • Portfolio Summary (Includes the Par Value; Market Value; and Yield) • Portfolio Details (Includes a listing of individual securities and investments) • Investments By Type (Listing of Federal Securities including call date if applicable) Section II - Investment Charts Section III - Listing of Monthly Investment Transactions 4.2 2-S-I ~ ATTACHMENT 1 v:,or r~~fjf~f CITY OF DUBLIN ~„~~~,~~ Portfolio Management ~~ ,:...1- -s~ sz ` r!~~ ~~ Portfolio Summary v \~'~r,,fr~~~~~ December 31, 2010 Pa.r Marlcet Book % of Term / Days to YTM/C Investments Value V~lue Value Portfolio Days Mat./Call 365 Equiv. Money Market 35,101.15 35,101.15 35,101.15_ 0.03 1 1 0.060 LAIF 45,058,699.35 45,058,699.35 45,058,699.35 43.62 1 1 0.460 Calif Asset Mgt Pgm (CAMP) 63,400.51 63,400.51 63,400.51 0.06 1 1 0.180 Federal Agency Coupon 58,155,000.00 59,156,840.10 58,120,834.04 56.29 838 524 2.270 Total / Average $103,312,201.01 $104,314,041.11 $103,278,035.05 100.00% 472 295 1.478% Cash and Accrued Interest Accrued Interest ~'~ 249,088.09 249,088.09 Total Cash and $103,312,201.01 $104,563,129.20 $103,527,123.14 472 295 1.478% Investments Value The schedule of investments, including the dates of maturity, provide adequate cash flow liquidity to meet anticipated expenditures over the next six months. The investments and schedule of investments are in compliance with the City of Dublin Investment Policy, and all applicable laws and regulations. ~~G~ ~• ~ ~ r 2o i 1 PAUL S. RANKIN, ADMINISTRATIVE SERVICES DIRECTOR DATE (1) Accrued Interest represents the portion of interest earned as of the end of the quarter, that will be paid in a future month. Federal Securities typically pay interest twice a year (6 month intervals). ~ ~ City of Dublin Portfolio Management Portfolio Details - Investments December 31, 2010 CUSIP Investment # Issuer Purchase Par Value Market Value Book Value Coupon Days To Days To YTM @ Maturity Date Rate Maturity Call/Mat Cost Date s... .., P . ~,;. ., _.. ,~, ..~,,, . Local Government:Investment P ~ .. ..~.,., ~.~ ~...<.. ~~~ ~~,~~ . ,.,,~ . . , ,; . ~ ~,x;, „ w_ : : ~,. ri t „.~ , ool .~"~ ~ .._..: .~„~ - a~~r~ <'<• ~.. . ~°~_. : ~~ . ~ ~ - <„ ; a 3i: ~- ~~;x ~ ,~~~~s. ~ ., ; , ~~,~:. ~ F~-~R.~ ` ~ ~3 ~"~ . ,x ~,, ~`~-. ~ ~ y. <;, ~ . ,> .. r;. y ~:.,,. ~,..~.. ''~~~ ., .. :: ~ . ~ . „ aa:~:: ~: ~. , .> ~. _::', .. ,, ~, CAMP California Asset Management Program 11/3/2008 63,400.51 63,400.51 63,400.51 0.06 1 1 0.18 N/A LAIF LAIF 11/26/2008 45,058,699.35 45,058,699.35 45,058,699.35 43.62 1 . 1 0.46 N/A s . . :, x ~,:~r,. ~ :; ,-, - Sub Total / Avera e ? , : .~~.. .~.,.,~ .~a.~~__.9,.~ .~.~_ .~ 3 ~ : ;,. , , ~ : > z -a -' .., , ,,, ,~ , ~. ~:. ..A...,~.,.~~~. . .~~ ~ ~~ ~'; ~ .~~ .. ~~.. .,~ ..;. .. . . ~t,., ,. ..45 122 099.86 ~. ,..,. _,..-0.. . ~.a .~w.. . ~ .,,, 45 122 099.86 ~~ .:~ . .., .,_, ~.. _. .,,.. _ . , ~, 451.22 099.86 ~~ ,.... ,. _,.. , _. „a ~i, r , 0.46 .~ .,~...., ~.., ;,,, .; 1€ ~„ti ~ ~ ; ., .. ~ ., • . i, ~ 1 : 0 46 . . ,.. .., ~~,.d ;- ~ -' ~ -' ~~ ..~ ..... UNION ~ ~Fidelity US Government Portfolio ~ 11/30/2008~ 35,001.08~ 35,001.08~ 35,001.08~ 0.06~ 1 ~ 1 ~ 0.06~ N/A , , ;:,, . . .~ US>A enc ~..:. „~9 .,.:...Y ~,.. 31331XNE8 , , . , - , ; ,~ x:. ~, ,.~..,.~. .~ 10037 ~ ~ ~ - r.,:; = .. , ~.~ ~'~ ~" '~..... ,; „~ ~ ...N . ,. ~,.`, ~ , '~,,;~ ~> FFCB ~ ~ ~~ .::, ....~, , ~. : 2/14/2007 ,.~ ~. ~ .'~...,, ;.:.... .~. 2,000,000.00 > ~ -~~' ~ 2,007,300.00 ~ a~,,, : ~ 2,000,013.88 ~:., i`~ ~~ 5.05 ~, .;. ~ ~:~.~ ~ 32 , ~ ~ ~~ ,; ~ ~R,? ~. „ h 32 ~;. . 5.04013 ~;~, ~ ,;;~ ,~ z.:~.~ ~, 2/1/2011 31331XRQ7 10055 FFCB 11/15/2007 1,655,000.00 1,668,935.10 1,656,755.96 4.85 68 68 4.24005 3/9/2011 31331XWU2 10049 FFCB 8/31/2007 1,000,000.00 1,014,230.00 1,000,139.05 4.8 115 115 4.75026 4/25/2011 3133XQ4C3 10065 FHLB 4/3/2008 3,000,000.00 3,107,760.00 3,006,601.36 3.5 434 434 3.3003 3/9/2012 3133XYF91 10089 FHLB 5/10/2010 4,000,000.00 4,047,600.00 4,000,000.00 1.25 605 605 1.25 8/27/2012 3133XYUR4 10091 FHLB 6/30/2010 3,000,000.00 3,023,400.00 3,000,000.00 1.05 608 608 1.05 8/30/2012 313371PY6 10097 FHLB 12/23/2010 4,000,000.00 3,991,240.00 3,982,700.00 0.55 703 62 0.77712 12(3/2012 3136FPM61 10098 FNMA 12/28/2010 4,000,000.00 3,990,880.00 4,000,000.00 0.875 728 179 0.875 12/28/2012 3133XXPH4 10088 FHLB 4/14/2010 3,000,000.00 3,001,110.00 3,000,000.00 1.625 745 14 1.6253 1/14/2013 3133XYVW2 10092 FHLB 6/25/2010 3,000,000.00 3,030,690.00 3,000,000.00 1.25 787 787 1.25 2/25/2013 3128X1EJ2 10084 FHLMC 10/14/2008 3,000,000.00 3,237,030.00 3,016,046.38 4.25 873 873 4.00207 5/22/2013 3128X7WV2 10074 FHLMC 6/10/2008 3,000,000.00 3,045,240.00 2,995,879.69 4.05 892 161 4.11273 6/10/2013 3133XRFL9 10077 FHLB 7/25/2008 3,000,000.00 3,241,170.00 2,999,894.58 4.25 896 896 4.25023 6/14/2013 3133XYK53 10090 FHLB 5/21/2010 3,000,000.00 3,050,190.00 3,000,000.00 1.65 964 964 1.65 8/21/2013 3133XD6A4 10082 FHLB 9/26/2008 3,000,000.00 ~3,265,440.00 3,027,267.13 4.375 987 987 4.00007 9/13/2013 31331J6A6 10094 FFCB 12/23/2010 4,000,000.00 4,018,560.00 3,999,285.33 1.3 1088 1088 1.30616 12/23/2013 313371BQ8 10093 FHLB 10/14/2010 3,000,000.00 2,972,010.00 3,000,000.00 1 1200 287 1 4/14/2014 313371MU7 10096 FHLB 12/21/2010 4,000,000.00 3,921,280.00 3,940,487.01 1 1239 54 1.45083 5/23/2014 3133XW2R9 10087 FHLB 12/30/2009 1,500,000.00 1,540,035.00 1,500,000.00 1.5 1460 364 2.95539 12/30/2014 3133725D2 .,, ~„...,,.. ~ . Sub..Total./-Av.e .....~_.., . .., .~..,,,. 10095 ~.,,;~ ~~.., >, , ra e _ ...9..,.~~.~~. ~ ~ .: FHLB ; ., ~, ,: . ..,. . ,.:. .. ,. ~,r, F,.. , .: ~~. ;, ~ x , ; ,.,; ~,, ~, ., ... ~,~~ ~~;~~ ;~:; .~..,:~ .... 12/21/2010 .,. . ,~ , . ,: ~~:~: ~,; .. ~~ ~ 2,000,000.00 ~ . ,.::: ~ 58 155,000 00 1,982,740.00 .._ , , , ,: } ~ ,~ . ,: ~ ~ , ; :~59,156,,840.10 1,995,763.67 ..r„ ,_ . , ~ ,, , ~ . ~ ~ ~58,120 834.04, 2.125 ,..._ . ~ .. ~ ~ ~ , .2.24~ 1816 , ~> .~, ~,~`r;.; 838; 1816 ..:.._: : ~ .. . :. . . ~~ ~° 524 2.17009 ,, . ... : . . ~.e2,.,26945 12/21/2015 ,. . . s~ ~._, ;:a~,.:: ;. Total / Average 103,312,201.01 104,314,041.11 103,278,035.05 1.462 472 295 1.47824 Vv ~ ~ City of Dublin Investments By Type (December 31, 2010) CUSIP '''"' U,S,,:~AgencY.._ ~~.. ' 31331XNE8 Investment # 4 ~~.~.:,r .. ~..."y 10037 Issuer ; ~+ .~" ~ ~ ,."° ;.. ~~~u .a~, ~~~. ~; FFCB Face Amount/Shares : ~^ ~ ~~~ ~:_ 2,000,000.00 Cost Price . <uT~'ro . Y ~'..~._. ,y~ s ~~ _ 100.033 Book Value ~ Y ,~ ~.: .~~:y 2,000,013.88 Coupon Rate n C't' ~._ ;~ 5.05 Maturity Date ,rc~ ~ ; ~ -.~ . ~~ 2/1/2011 Next Call Date ~ Next Call Price „;~'e, i;, ,';q,... ~~~ ~fr, 31331 XRQ7 10055 FFCB 1,655,000.00 101.863 1,656,755.96 4.85 3/9/2011 31331XWU2 10049 FFCB 1,000,000.00 100.159 1,000,139.05 4.8 4/25/2011 31331 J6A6 10094 FFCB 4,000,000.00 99.982 3,999,285.33 1.3 12/23/2013 FFCB Total ~ 8 ~655,000 00' 3133XQ4C3 10065 FHLB 3,000,000.00 100.728 3,006,601.36 3.5 3/9/2012 3133XYF91. 10089 FHLB 4,000,000.00 100 4,000,000.00 1.25 8/27/2012 3133XYUR4 10091 FHLB 3,000,000.00 100 3,000,000.00 1.05 8/30/2012 313371 PY6 10097 FHLB 4,000,000.00 99.5625 3,982,700.00 0.55 12/3/2012 3/3/2011 100 3133XXPH4 10088 FHLB 3,000,000.00 100 3,000,000.00 1.625 1/14/2013 1/14/2011 100 3133XYVW2 10092 FHLB 3,000,000.00 100 3,000,000.00 1.25 2/25/2013 3133XRFL9 10077 FHLB 3,000,000.00 99.993 2,999,894.58 4.25 6/14/2013 3133XYK53 10090 FHLB 3,000,000.00 100 3,000,000.00 1.65 8/21/2013 3133XD6A4 10082 FHLB 3,000,000.00 101.671 3,027,267.13 4.375 9/13/2013 313371 BQ8 10093 FHLB 3,000,000.00 100 3,000,000.00 1 4/14/2014 10/14/2011 100 313371 MU7 10096 FHLB 4,000,000.00 98.5 3,940,487.01 1 5/23/2014 2/23/2011 100 3133XW2R9 10087 FHLB 1,500,000.00 100 1,500,000.00 1.5 12/30/2014 12/30/2011 100 3133725D2 10095 FHLB 2,000,000.00 99.787 1,995,763.67 2.125 12/21/2015 FHLB Total ~,~39;500,OOQ~OOt - 3128X1 EJ2 10084 FHLMC 3,000,000.00 101.03 3,016,046.38 4.25 5/22/2013 3128X7WV2 10074 FHLMC 3,000,000.00 99.71875 2,995,879.69 4.05 6/10/2013 6/10/2011 100 FHLMC Total ~`~~,O:d00~00;0~ 0~0: 3136FPM61 10098 FNMA 4,000,000.00 100 4,000,000.00 0.875 12/28/2012 6/28/2011 100 FNMA Total ~~ 4~;00~0~;0~0(J~~0:0"., Grand Total 58,155,000.00 ISSUERS: FFCB = Federal Farm Credit I3anlc; FNLB = Federal Home Loan Banlc; FIHLMC = Federal 1-iome Loan Mortgage Corporation ("Freddie Mac"); FNMA = Federal National Mortgage Association ("Fannie Mae") ~ ~ a~ .~. 5 ~~ ~ QUARTERLY INVESTMENT REPORT Second C~uar~er Fiscal Year 2010-2011 Decem ber 31, 2010 Section II - Investment Charts ~ I) ~ I INVESTMENT CHARTS FOR THE QUARTER ENDING l)TCEMBER 31, 2010 FEDERAL SECURITIES BY 1SSUER (December 31, 2010) FHLMC FNMA 10% 7% ~ " ; ~ FFCB ~,~ ; ~ ~ ~~~~~~~~~ ~ 15% ~~ 4~~ ` ~ ~`~ ~~ '~ ~~~~ ~ . ~ ,~Y"~.:,o. .~is~ 3~ . F .~ ~5t j':. . ~, ~ 3~ Y i~r' ~ ^i E pj~ ~ nk` . F ~I ~ ~:l ~.`s ~ ~s~ 1 f a' .. 3.K~ . : L L 'a ~ V'".i ~`a ~~~j Lv Y ~ £ ~, ~,r, . "NS„~'4 ~ d ~ ~Y~,i 'S " ~Z~ ~ F F ~. i~ hC/( ~ ~ ~ ~ £ : _ ~, . ~ ' ~i3~ .. ~H ~ °'i~£y¢2 L tJ y ~i ~ -' .~'' ~ y . 3j ~ ~~ ~ p"~. ~ F v 3 f ~ : ~ &ie ~ i~~ ~i~ ~u~o ~~ ' F ';3 . ~3, b ~,:Fw'u . FHLB 68% 7I ~( INVESTMENT CHARTS FOR THE QUARTER ENDING DECElVIBER 31, 2010 ~ FEDERAL SECURITIES CALLABLE vs NON-CALLABLE °~~~ ~~, . ~ ~y ~i. `~ F ~£3 .. ~ ; . ~,s 'z'~~t''~ ~~ r~, ~~r~~~ ~ CALLABLE ~~ 3 €~.•;~,s?`... ~ ~t<:.,:.~~. ~9% M~:~;~~ u~~~~.,~.'~~`' ~ ~ h ~.. ,z, ~ ~~~~~~~~,> ..~~ -~~ ;; : i ~~.;:_.- ^~` ~~~ `•~~,~ ~;~~;~ ~~ .~;r ~.. ~ .. ~ NON-CALLABLE : :~. ~, ,~ ~~ µzu` >;"`s3:.. ~;r€..~s . ~ ~~ ~ . -~` ~~y..::. 61% M~s;~.,;y....:.~,~::~:,~~,, ~~'6~:;~';~ `_~-~ ~ ~~ ~ ~ ~~~ ~~m~~ f ~ December 31, 2010 - Portfolio Maturities $50 000 000 , , $4~,1 ~7,zO l $4~,000,000 ~ $40 000 000 hq ` ~ , , ~' E ~ $J~,OOO,OOO ~~ , . $30 000 000 , , ~ Q~ ~DZ~~~~~~~~~ E ' , ~ ~e~M~ ' ,~'i tiL" ~1~~ ~~d "~.--_ ~2~ ~~~ ~~~ ~ ~~0 ~~~ ~2 ~ ~ ~~ ~ ~ ~ x $18 000 000 ~ ~~ ' $15,000,000 ~ , ~*~ ; $10,000,000 ~ $4 6» 000 ~ ~~ ~ $8 ~00 000 $~,000;000 ~: ~ , , ~ ~ y~ 3~ , ~ ~ ~ $2,000,000 ~ Z~~~ ` ~ r $0 ~ ~~~ „ `~ ' ~~~ ,~ `~. _ ~,s.~.~ ~~~ , ~ No Maturit_y Date ( I Yr or Less) (1 Yr - 2 Yr) (2 Yr - 3 Yr) (3 Yr - 4 Yr) (4 Yr -~ Yr) g Ii ~ QUARTERLY INVESTMENT REPORT c ar er Fiscal Year 2010-2011 ec~ er 31, 1 Section III - Listing of Monthly Investment Transactions Subtotal and Ending Balance ~LAIF°`~~ ~~, ~ ,y, _: ~ ; ,.,~ .~~,~~ ~., ~'~ . _~...,.. ,. u ~k ~. ~~~~ . ; . 45,060,907 06 LAIF 10/25/2010 ' 1,500,000.00 46,560,907.06 Subtotal and Ending Balance ~~ ~'' ,~, ~ ~ ~ =~ ~~ ~, y ~E,~1,5~00~0OO~.QO~-~~~ ,~~~ 0:00 ~. ~'~ ~'U 00 46~560,9;0~:7 06 ~ TOTAL 3,048,312.50 (3,000,875.00) 10.78 48,219,164. ~Q ~ City of Dublin Cash / Checking Activity Report November 1, 2010 - November 30, 2010 Issuer Transaction I Comment Deposits I Withdrawals Interest Receivedl Balance Date Lai~rornia~rasset ivianagement_Nrog~a,m.(C."AMP~)~ ° 63,380.83 California Asset Management Program 11/30I2010 Interest on account 9.79 63,390.62 Subtotal and Ending Balance ;; ' ~~ ~~ =~ ~. .~. . ~. ¥....' ~ ~. ~'~ ' ° . .~~ . ~:'<', ~ u0:0~0 F ~: = ~ " U:UQ ~ , %~~9 79 ; ~ ' 63,39~0:62 ~LH11^;<1r~~t, ~.'~: '~. ~ `~:;~, :~.. ~~~'~ ~a ~~.,a~. ~..~~,,,:: 46,560,907.06 LA I F 11 /8/2010 1, 200, 000.00 47, 760, 907.06 LAI F 11 /10/2010 (300,000.00) 47,460, 907.06 LAIF 11/22/2010 650,000.00 ` 48,110,907.06 LAIF 11 /30/2010 1,000,000.00 49,110,907.06 Subtotal and Ending Balance ~~'; ~ ` H;: ~~ ::~..~ ~ : ~ ;` ' ' . .~ ` 2~850;0OO,~QO .. ':; (300;(?OU~QO) `, ~, _~0 ~00 ' ~4~9.,110,~50-7 06:`. TOTAL 2,938,550.50 (300,000.00) 91.77 50,857,806.57 '\ ~ ~ ~~ Subtotal and Endin Balance '.~~ G ' ~ - 9 ~ .~.~ =~~; .. ,. _~ -' ,.. ~;.. ~.. ~~,. ;w ~~88,550 50 ~~;:;,'... ` ~Q.OU ~ ;: ~;81~9$~ :.. ~ 1,683,508 8;9 City of Dublin Cash / Checking Activity Report December 1, 2010 - December 31, 2010 Issuer Transaction Comment Deposits Withdrawals Interest Received Balance Date ~Cal for~nia~,~sset~' Manage~rnent~Progr~a~m (~C~AMP~)~ ss,390.62 California Asset Management Program 12/31/2010 Interest on account 9.89 63,400.51 ~. Subtotal and Ending Balance ~'~ '~ ~ ~ ~~ ~ ~'`` , ~"r0 00~ ~', ~~ ~ ~ ` ~ `''' ,=,~A , ~~..~,: W , ~. A ~ ~; x~~;~~ ~~ .... ~.. ~~ ,.~ ~O:QO~ .~~_ ,.;~9 89~ ~~~~, 63,4Q;0~51.:5 'Fi~delity~US Governme~;nf,~ortfolio MM ~ ` a~ ~° ~ ^ ~,ss3,508.89 Fidelity US Government Portfolio MM 12/1/2010 Interest on account 64.85 1,683,573.74 Fidelity US Government Portfolio MM 12/10/2010 Interest on inv# 10074 60,750.00 1,744,323.74 Fidelity US Government Portfolio MM 12/14/2010 Interest on inv# 10077 63,750.00 1,808,073.74 Fidelity US Government Portfolio MM 12/17/2010 Transf frm LAIF 8,511,000.00 10,319,073.74 Fidelity US Government Portfolio MM 12/21/2010 Accrued Interest inv# 10095 (826.39) 10,318,247.35 Fidelity US Government Portfolio MM 12/21/2010 Accrued interest inv# 10096 (3,111.11) 10,315,136.24 Fidelity US Government Portfolio MM 12/21/2010 Interest on inv# 10086 7,500.00 10,322,636.24 Fidelity US Government Portfolio MM 12/21/2010 Full call inv# 10086 1,500,000.00 11,822,636.24 Fidelity US Government Portfolio MM 12/21/2010 Purchase inv# 10095 (1,995,740.00) 9,826,896.24 Fidelity US Government Portfolio MM 12/21/2010 Purchase inv# 10096 (3,940,000.00) 5,886,896.24 Fidelity US Government Portfolio MM 12/22/2010 Transf frm LAIF 2,099,907.06 7,986,803.30 Fidelity US Government Portfolio MM 12/23/2010 Accrued interest inv# 10097 (1,222.22) 7,985,581.08 Fidelity US Government Portfolio MM 12/23/2010 Purchase inv# 10097 (3,982,500.00) 4,003,081.08 Fidelity US Government Portfolio MM 12/23/2010 Purchase inv# 10094 (3,999,280.00) 3,801.08 Fidelity US Government Portfolio MM 12/27/2010 Interest on inv# 10058 44,200.00 48,001.08 Fidelity US Government Portfolio MM 12/27/2010 Transf frm LAIF 1,960,000.00 2,008,001.08 Fidelity US Government Portfolio MM 12/27/2010 Full call inv# 10058 2,000,000.00 4,008,001.08 Fidelity US Government Portfolio MM 12/29/2010 Purchase inv# 10098 (4,000,000.00) 8,001.08 Fidelity US Government Portfolio MM 12/30/2010 Interest on inv# 10087 11,250.00 19,251.08 Fidelity US Government Portfolio MM 12/30/2010 Interest on inv# 10091 15,750.00 35,001.08 Fidelity US Government Portfolio MM 12/31/2010 Interest on account 100.07 35,101.15 Subtotal and Ending Balance Subtotal and Ending Balance 3 y ~ ~ ~ ~~~'~r ~ ~ ~ '~~13;OQ'U~000~00 ~17,1~05~907y0~6~~ ' ~ b 53~699`~3'5 ~ 4~5~058;699, 35 ~ s-a~: ~ ~ ~ ; _ ~ . ~ .~;., ~~,~,~,,. ) ~ ~ x,~... , ~~„ ~., ,..,~,.... ~ TOTAL 29,274,107.06 (35,028,586.78) 53,874.16 45,157,201.01