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HomeMy WebLinkAbout4.14 Invest Rpt 4th QtrSTAFF REPORT CITY CLERK DUBLIN CITY COUNCIL File # ❑©®0-3❑ DO DATE: August 16, 2011 TO: Honorable Mayor and City Councilmembers FROM: Joni Pattillo, City Manager SUBJEC . City Treasurer's Investment Report for 4th Quarter 2010-2011 Prepared By: Paul S. Rankin, Administrative Services Director EXECUTIVE SUMMARY: The City's investment portfolio totals $101,656,025.99 (par value). As of June 30, 2011, funds were invested at an average yield of 1.388%. 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 June 30, 2011. 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 approximately the same as the 1.37% projection which was developed with the mid -year budget adjustments. Actual revenue will be determined after final accruals are made by fund and the completion of the Comprehensive Annual Financial Report. RECOMMENDATION: Staff recommends that the City Council receive the Quarterly Investment Report. Submitted By: Reviewe Administrative Services Director 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 U14- Page 1 of 5 ITEM NO. 4/4 6k 4th QUARTER RESULTS As shown on the Portfolio Summary the total investments as of June 30, 2011 were approximately $101.7 million. The "Yield to Maturity" was calculated at 1.388% and the weighted average maturity of the portfolio was 650 days (1.78 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 488 days (1.34 years). The Market Value as of June 30, 2011 was approximately $1.1 million more than the Par Value (Par Value =$101,656,026 and Market Value =$102,709,559). 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 Tab1e 1, the total portfoiio is relatively unchanged from the balance reported 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. Expenditures for Capital Projects are largely responsible for the decrease compared to one year ago. The timing of revenue collection and issuance of payments also impacts the balance available to the portfolio. With recent building and development activity there has been additional revenues collected. The balance is also impacted by the lag in the billing for Contract Police and Fire Services. It is expected that the final accruals for Fiscal Year 2010/2011 will be processed in July and August. The average maturity of the investments held has increased over the past year from 1.12 years to 1.78 years. This is in part has been as a result of placing new investments. Compared to the previous quarter the City has reduced its short term holdings (funds invested for one year or tess). This will need to be balanced with the need to maintain diversity in the City portfolio in the coming year. Page2of5 Table 1: COMPARISON OF PORTFOLIO MEASURES Most Recent Five Quarters INVESTMENT ACTIVITY DURING THE FOURTH QUARTER This report discloses changes in individual securities due to Maturities, Called Securities, and New Investments. A total of $ 12,000,000 in securities either matured or were called during the quarter. As shown below one transaction was due to maturing investments, and three securities were called prior to their stated maturity dates. TABLE 2: INVESTMENTS MATURED DURING THE FOURTH QUARTER * FHLB = Federal Home Loan Bank; FFCB = Federal Farmers Credit Bank; FNMA = Federal National Mortgage Association or "Fannie Mae"; FHLMC = Federal Home Loan Mortgage Corporation or "Freddie Mac" Five new investments with a combined par value of $19,000,000 were purchased during the fourth quarter. TABLE 4: INVESTMENTS PURCHASED DURING THE FOURTH QUARTER Three of the five securities which were purchased have call provisions as shown in the Table above. The effective yield is less than the stated coupon for one of the new securities purchased, as it was purchased at a premium. For example, the first security shown in the Table above indicates a"coupon rate" of 1.15% and an effective yield of 1.08%. The $4,000,000 face value bonds were purchased for $4,009,280 and factoring this in results in a slightly decrease in the 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 5 TABLE 3: INVESTMENTS CALLED DURING THE FOURTH QUARTER COMPOSITION OF PORTFOLlO 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 June 30, 2011, 35.5% of the portfolio was immediately available in the Local Agency Investment Fund (IAIF) and Money Market instruments; this is slightly less than the 39.3% reported as of March 31, 2011. • Federal Agency Securities represented 64.3% of the Portfolio, which is t slightly more than the 60.6% reported as of March 31, 2011. • There was diversity in the issuers of the federal securities held in the portfolio. A total of four different issuers were represented. (FNMA-17%; FHLB - 66%; FFCB-6% and FHLMC-11 %). • There is a heavy concentration of Federal Home Loan Bank (FHLB) securities in the portfolio ($43.5 million as of June 30, 2011). The City investment policy states that the Treasurer shall strive to provide diversity among the debt issuers purchased. As of June 30, 2011 FHLB securities represent 42.8% of the total portfolio. The investment policy suggests that the placement of investments strive to limit the maximum to 40% of the total portfolio. Future purchases will need to take this into consideration. • The investment policy also suggests that the City strive to limit callable securities to no more than 25% of the portfolio. As of June 30, 2011 the portfolio is slightly above the target at 26%. • 36% of the funds are invested for one year or less compared to 44% reported in this category as of March 31, 2011. • 29% of the funds are invested in securities with maturities of 3 years or more, compared to 18% reported in this category as of March 31, 2011. MONTHLY TRANSACTIONS Section III of the Report provides a list of transactions related to investments in the City portfolio for each month of the fourth quarter (April, May, and June). 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 As part of the mid-year budget adjustments a revision was made to the projected revenue earned from investments. In the adjusted Budget it was assumed that LAIF would generate a rate of at least 0.50%. As noted below the rate for the fourth quarter was only slightly below this threshold. The following Table shows the trend relatively flat trend in short-term rates at LAIF over the past year. Page 4 of 5 TABLE 5: Local Agency Investment Fund (LAIF) Quarterly Rate The current trend is that there has been significant instability in the market and rates have continued to trend lower. In August Standard & Poors, one of three rating agencies, downgraded the credit rating for the United States as well as some federal agencies. The change does not conflict with the current City Investment policy. It does, however, continue to be an area that Staff is monitoring. Most projections do not anticipate a rapid change in interest rates and lower rates may be a trend for at least the next year. NOTICING REQUIREMENTS/PUBLIC OUTREACH: None. ATTACHMENTS: 1. Quarterly Investment Report for the Period Ending June 30, 2011 ~ Page 5 of 5 / -~ CITY OF DUBLIN QUARTERLY INVESTMENT REPORT Fourth Quarter Fiscal Year 2010-2011 June 30, 2011 Report Prepared August 9, 2011 Report Presented To City Council August 16, 201'I 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 y. ~~ S- l~~r 0 ATTACHMENT 1 CITY OF DUBLIN Portfolio Management Portfolio Summary June 30, 2011 Investments Par Market Value Value Book % of Term / Days to YTM/C Value Portfolio Days Mat./Call 365 Equiv. Money Market 6,837.25 6,837.25 6,837.25 0.01 1 1 0.010 LAIF 36,085,739.88 36,142,627.97 36,085,739.88 35.50 1 1 0.480 Calif Asset Mgt Pgm 63,448.86 63,448.86 63,448.86 0.06 1 1 0.120 Federal Agency Coupon 65,500,000.00 66,496,645.00 65,475,493.83 64.43 1008 757 1.889 Total / Average $101,656,025.99 $102,709,559.08 $101,631,519.82 100.00°/a 650 488 1.388°/a Cash and Accrued Interest Accrued Interest ~~~ 173,689.58 173,689.58 Total Cash and $101,656,025.99 $102,883,248.66 $101,805,209.40 Investments Value 650 488 1.388% 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~X ~~ ~ Q ! ! PAUL S. RANKIN, ADMINISTRATNE SERVICES DIRECTOR DA E (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). Q~ ~ City of Dublin Portfolio Management Portfolio Details - Investments June 30, 2011 CUSIP File # Issuer Purchase par Value Market Value Book Value Coupon Days To Days To YTM @ Maturity Date Date Rate Maturity Call/Mat Cost ~.,~~. _. ~, .~.., ~ ,..,~.. ~ . rtm8tlt tn s m LocaE~Gaver ~ ,.~e # sr~L Pool; ~ . ; ~~~ ~ w~~ , ,,~ _ ~, . _ ~. . ~, , ~~ ; «. ; ~,~ ~ ~,~ x~ ~ ~ ~, ,~~~ ~~~ ~ ..:.. ~ . . r , ~ ~ . ~,,, .. ~ ; . ... ,: ~< ~ ~. . ' ~~ , ,; , , . ,. ,.., < .,." ~~ ;b ~~.. _ fi~ ~~,, ,:.., . ,<~ ~ .,; ~.. „~ . ' 7 ~ ~ ~ ~ .« ~, , M.a~ CAMP Calif. Asset M t Pro ram 11/3/2008 63,448.86 63,448.86 63,448.86 0.12 1 1 0.12 N/A LAIF.; .._: Local A ene`:Inv Fund 11%26/20;08. ..36,085;739.88 :,, 36,1.42,62Z;97 36.,085;739.:88 ' 0:_48 .::: ...:1 ..:, : 1. :..: 048 .;";,~ N/A a .u~, ., ;: . `: p~~.~~ ,~.-; ; /y = '^,'. .tj . y~ , i; ~ 3 /-::. " c ~.. Y~~T n~;Y~+ ~~~ ~M~~~ ~ ~r~~~ ~ ~ `~ % ~~= ~~ , u r; S' ~ '. , : h ~.. .~.: . '. s~. ~ ~ ~ , ~~~~ ~ .: , ; ,. ~. . 4r ~ . ~ : . . . ~+ 36 ~48 °1;$8 74 : :.: . . . _ : ~~.~:,/'. Z.. ~. : ~'~. . ~: ~~ ~ ~36 206 076 83 , . , ~ ~ ::. ~ ~~ , ,.: ^: • t~ 49 188 74 361 , , ., .~ .., , . ?« ..: 0 47a9 ~ <:. . :6..3 i 3 ~ x 1 ,. , ,. . ..,. E.Y3~':.~ „ . ~l.:. .:~`. 1 ~ '~ ~ ~ : . .: lf .a ..::. . , ~£ 47937 0 ~ ..: ~.: & :urLL,~,,a„~^4 ~y;;:, ~G :'ro^ . . ,,.. ..,...,.. ~ .. w,..~..F . .~....~..F ... ., . ~F > A. : . ...y., ~ ~ , .~ , ,,.. , , _ :_. ..... ..___ ~ _,~ ,_ y_..,...~, ~,.,.~~... .. ~ . _ . ~ , _ ,~.... ~. ~.~.~_. , ~, , __~ ~~,..~~,, ,.~ ~~~~~., .~ , m, , _ . ,...~... _ ,.,. ,< . e,. ., ,,. .,,. ~, ~ ... ...: ., . ~ « ~ ~ ~'~' ~:a ~'~ ~`c ~ ,,,.. Q~~ .£, ~~k.: ~ 4 A x. !. . „ .'n A ,.:~...:...N~. UNION Fidelit US Govt Portfolio . ~~- ,~~"ro ~" 5 .. ,,., a~' ~' >...:~~:~ , ~ . , . , 11/30/2008 .., _'~_ ~ .;3 ~ ~ : ,., „ .~' ~ 6,837. 25 :, ,.~ f 4,~ ; e . ~ ~ ,Y ::~ a~ ~~ a 3 ~ ~'~~~: ' c~x .. ~~~. ,.~ , r~::."m ..~~n , , ~.ia. _ ~ t ~~ ~~y,~ ~A .; ,i v. ,. . ~.. _: .. . .'..:.~ ... ,. ~..~ x. . . , : a . . _ . . 6,837.25 6,837.25 0.01 1 1 ; a a 9 ''. wo~~ ~~ . ;,, 0.01 ~~~. . . . ..'~. ;.i N/A ~p ~ ~ ~ ~w'4 . ~" } a k„ ` Sub T'cital l Avera °e~ ~% ~ . .;~ :~,~ -: ;~ ;, = d w..~ ~.., ...w._.. ..,_.~~_. .~.. .; ~ ~... ,~. ..~ ._: ... . v:.,,: ~ _~.,>.:~ 6,837.25 ~'•~iM ~. ~, .~.~~ ~,3. .. ' ~ 2 .. ~ ~ ~. ~- ~.. 6.,837,25 6.~$37.25 n.0~01, ~ . .. .... ~ a~„ . 3 .~~~ t. . ~.: ~...~.« : ~~ ru..~~ ..1 _,., ,,~~,. . ~ ~ 'P - ~0.~1~ ~., :j . ~ .; ~ ..,~.. u US A" enc ~ 3133XQ4C3 E ~ ~ ~,;. 10065 ~ s ~_. FHLB ~ ~. u~ . 4/3/2008 M ~, _ :. . ` ~~ ~~~ 3,000,000.00 ~~ : ..~~; .~ 3,066,150.00 ~ z~.~ ~.~~ ~~... , ' 3,003,840.51 ~.. R ;~` . ~ ~ 3.5 <, r,- .~ _ 253 . ~.. . 253 F:. 3.3003 x ~~~~.. .: .~., 3/9/2012 3133XYF91 10089 FHLB 5/10/2010 4,000,000.00 4,043,520.00 4,000,000.00 1.25 424 424 1.25 8/27/2012 3133XYUR4 10091 FHLB 6/30/2010 3,000,000.00 3,024,120.00 3,000,000.00 1.05 427 427 1.05 8/30/2012 3133XYVW 10092 FHLB 6/25/2010 3,000,000.00 3,039,660.00 3,000,000.00 1.25 606 606 1.25 2/25/2013 3128X1 EJ2 10084 FHLMC 10/14/2008 3,000,000.00 3,212,310.00 3,012,710.37 4.25 692 692 4.00207 5/22/2013 3133XRFL9 10077 FHLB 7/25/2008 3,000,000.00 3,217,680.00 2,999,915.95 4.25 715 715 4.25023 6/14/2013 3133XYK53 10090 FHLB 5/21/2010 3,000,000.00 3,068,100.00 3,000,000.00 1.65 783 783 1.65 8/21/2013 3133XD6A4 10082 FHLB 9/26/2008 3,000,000.00 3,246,660.00 3,022,245.71 4.375 806 806 4.00007 9/13/2013 31331J6A6 10094 FFCB 12/23/2010 , 4,000,000.00 4,055,600.00 3,999,404.67 1.3 907 907 1.30616 12/23/2013 3133716Q8 10093 FHLB 10/14/2010 3,000,000.00 3,006,270.00 3,000,000.00 1 1019 106 1 4/14/2014 313371MU7 10096 FHLB 12/21/2010 4,000,000.00 3,981,320.00 3,949,204.55 1 1058 1058 1.45083 5/23/2014 313370JS8 10100 FHLB 3/22/2011 4,000,000.00 4,039,000.00 3,985,328.13 1.375 1170 1170 1.49304 9/12/2014 313374GK0 10103 FHLB 6/30/2011 3,000,000.00 2,990,610.00 3,000,000.00 1.03 1211 1211 1.03001 10/23/2014 3133743W8 10101 FHLB 6/10/2011 4,000,000.00 4,001,640.00 4,009,127.87 1.15 1218 1218 1.08019 10/30/2014 3134G2PM8 10106 FHLMC 6/29/2011 4,000,000.00 3,970,160.00 4,000,000.00 1.25 1278 365 1.25 12/29/2014 3133XW2R 10087 FHLB 12/30/2009 1,500,000.00 1,525,995.00 1,500,000.00 1.5 1279 183 2.95539 12/30/2014 3136FRXN8 10104 FNMA 6/30/2011 4,000,000.00 3,985,840.00 4,000,000.00 1.25 1279 274 1.25 12/30/2014 3136FPHZ3 10099 FNMA 1/20/2011 3,000,000.00 3,024,870.00 2,997,528.77 2 1551 1551 2.02019 9/28/2015 3133725D2 10095 FHLB 12/21/2010 2,000,000.00 2,034,620.00 1,996,187.30 2.125 1635 1635 2.17009 12/21/2015 3136FRRR6 > `;_.ww .;. ..'~ ~m.a ~+/: : Sub~Totalfil~ x.. ~.,. ~ _ .. ..~ 10102 asv.~r ,x_n . ~V~l~ ` ~i ~ ..~ .. ~ . ... FNMA : f. r ~,,. . W, . ., r t d ~=n~ ~,~_ . z ~~:: ....., 6/27/2011 k n u k 1? ~.. ._ . . :,~. ~s....._.~.. 4,000,000.00 ,: .,, s. ~.. . ,( ~.; i. ,,. 65 50A Q00.00, ~~ .,.. 7 1.. .~ .. ,< . 3,962,520.00 ._ . ..,. ., ;. , ;:: y ~ 66. 4.96 645~00 .,.~ .......7a,__ f , __...~ .,, 4,000,000.00 :.~~, ~ ~ . . :~F' 3~ _ ),~i° ~ . : ~, > ..~ ,65 4,75 493.$3; ,.~;...,. t.,.,.,.~,...l~..~ , ...v... 2 ~.,,-~ ~: ,..... E ~ .. : r~ ,1.861 ..,,fit. . ....9...~ 1824 ... .~h :" . , ~ 1008 ~. . ....>,...~..'c~3„k z....,_..d 728 . . z~, .. ~~: ; ~ T.57~ ... .Y, .. .,,,._ _ 2 ~~', .. , ,. , ~ 1..8.$936 . ...,,,,., ~.,, ,,, 6/27/2016 .~?e. ... . . „ ` ~ ~, .,.:~_ , ._,n,>.,x§~.-x. .-'s~ Total / Average 101,656,025.99 102,709,559.08 101,631,519.82 1.369 650 488 1.38783 V ~ City of Dublin Investments By Type (June 30, 2011) CUSIP ~3 ~} ' ~1~ ~ ~~~. ,~ ~~V"~S A ~~~L` ~~ , - ~ . ~ x ~.~~5: ~ r.:~a'e 31331 J6A6 Investment # 't` 'l ti~ r C~~; _ ~ ,, 7 a, :. , . : .5 a ..Pi, ,So~., , 10094 Issuer ~ ~ i et ~ ,~~' ~~~~ -~ E ." ~~ er,~'!i'~/, .~'L . .. ,,, FFCB Face Amount/Shares ~~Fa~ ~~~ ~at~ ~~~... ..: :. .;; ~~~. , .sY . ~~ . ~~ ~ 4,000,000.00 Cost Price ~~~ 3~i~rl~ . : ., .. .~ .; ' ~~.. 99.982 Book Value s~, ~ ~~~~ ~'~ ~~ r%'.. . ~r .i ": " . . 3,999,404.67 Coupon Rate oul~!~. ~~ ~ . ~ ~ ' . . , e n ..... 1.3 Maturity Date . ~~. f ~ ~ . . .. . ./. , . ,~. ~ 12/23/2013 Next Call Date ~ ~~'~~~ : ~ . r ,~~,,.Tq~_ .... _ ~~:% .>. . :: Next Call Price ~i~ex#;~ati ti . a~ .: . , l, ' .-~~: ~: ~. / ~'v, 3~ F~ FFCB Total ~ = 4,t1 t~,£~t~` ..~~~' 313371 BQ8 10093 FHLB 3,000,000.00 100 3,000,000.00 1 4/14/2014 10/14/2011 100 313371 MU7 10096 FHLB 4,000,000.00 98.5 3,949,204.55 1 5/23/2014 313374GK0 10103 ~HLB 3,000,000.00 100 3,000,000.00 1.03 10/23/2014 3133XYUR4 10091 FHLB 3,000,000.00 100 3,000,000.00 1.05 8/30/2012 3133743W8 10101 FHLB 4,000,000.00 100.232 4,009,127.87 1.15 10/30/2014 3133XYVW2 10092 FHLB 3,000,000.00 100 3,000,000.00 1.25 2/25/2013 3133XYF91 10089 FHLB 4,000,000.00 100 4,000,000.00 1.25 8/27/2012 313370JS$ 10100 FHLB 4,000,000.00 99.602 3,985,328.13 1.375 9/12/2014 3133XYK53 10090 FHLB 3,000,000.00 100 3,000,000.00 1.65 8/21/2013 3133725D2 10095 FHLB 2,000,000.00 99.787 1,996,187.30 2.125 12/21/2015 3133XQ4C3 10065 FHLB 3,000,000.00 100.728 3,003,840.51 3.5 3/9/2012 3133XRFL9 10077 FHLB 3,000,000.00 99.993 2,999,915.95 4.25 6/14/2013 3133XD6A4 10082 FHLB 3,000,000.00 101.671 3,022,245.71 4.375 9/13/2013 3133XW2R9 10087 FHLB 1,500,000.00 100 1,500,000.00 1.5 12/30/2014 12/30/2011 100 FHLB Total " y ~` ~~~~,pQ ~Qp'; 3134G2PM8 10106 FHLMC 4,000,000.00 100 4,000,000.00 1.25 12/29/2014 6/29/2012 100 3128X1 EJ2 10084 FHLMC 3,000,000.00 101.03 3,012,710.37 4.25 5/22/2013 FHLMC Total ~ ~~ ~ {~t~~~ p~?~ ,~` 3136FRXN8 10104 FNMA 4,000,000.00 100 4,000,000.00 1.25 12i30i2014 3/30/2012 100 3136FRRR6 10102 FNMA 4,000,000.00 100 4,000,000.00 2 6/27/2016 6/27/2013 100 3136FPHZ3 10099 FNMA 3,000,000.00 99.909 2,997,528.77 2 9/28/2015 FNMA Total ~ y~~!'~;*~Q (~~~1q:p p(~; Grand Total 65,500,000.00 ISSUERS: FFCB = Federal Farm Credit Bank; FHLB = Federal Home Loan Bank; FHLMC = Federal Home Loan Mortgage Corporation ("Freddie Mac"); FNMA = Federal National Mortgage Association ("Fannie Mae") ~~_ 5 -~ QUARTERLY INVESTMENT REPORT Fourth Quarter Fiscal Year 2010-2011 June 30, 2011 Section II - Investment Charts INVESTMENT CHARTS FOR THE UARTER ENDING JUNE 30 2011 ~~ I I Q ~ INVESTMENT CHARTS FOR THE QUARTER ENDING JUNE 30, 2011 June 30, 2011 - PortFolio Maturities $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 No Maturiry Date (1 Yr or Less) (1 Yr - 2 Yr) (2 Yr - 3 Yr) (3 Yr - 4 Yr) (4 Yr - 5 Yr) ~ ~~ g ~i ~ QUARTERLY INVESTMENT REPORT Fourth Quarter Fiscal Year 2010-2011 June 30, 2011 Section III - Listing of Monthly Investment Transactions City of Dublin Cash / Checking Activity Report April 1, 2011 -April 30, 2011 Transaction Interest Issuer Date Comment Deposits Withdrawals Balance Received vsa~t~-w[il~Gl e~.^yv'f~'k.,:1,~kqls c~~„rsar~~rr,~;~ ~-r-uc~. r ar~[.~(,~,.t~.n1~E';)~,~.:..: - 63,428.51 California Asset Management Program LGIP 4%29/2011 Interest 0 0 7.29 63,435.80 Subtotal and Ending Balance ;~ ~ ` ,,,.~.~ ... ~;, , ~ ~ ~,,. ,~ ~ ,~.~ , ~ ~ . ~. , ,~.. ° ~ . ; (~~ ~1 t~ ~ ~` =~~ f?£t - -~ ~~7.~9 ~~.. ~ ~~ 6~'43~5 6 ~. ~~ .~' ~, ., a... ~~ ~?~er men ~o~fa ~c~ M .,,. . ~ ._ ;: ' ~ ~ V~ 5 `~ 30,529.59 Fidelity US Government Portfolio MM 4/12/2011 UB fee collected 875 Fidelity US Government Portfolio MM 4l12/2011 Payment of fees (875.00) FHLB 1 4/14/2014-11 4/14/2011 Interest on inv# 10093 15,000.00 FFCB 4.8 4/25/2011 4/25/2011 Interest on inv# 10049 24,000.00 FFCB 4.8 4/25/2011 4/25/2011 Maturity of inv# 1~049 1,000,000.00 Subtotal and Ending Balance'~ ::.` 4~ ~.,: ~ '.. ~:; , ..... ~N.' ~ ~~`~~t13~~;87"~~~C~~t ~~$~75 {~t~~..: ~ ,.,.: ~~~ ~ ~. .,1,~6~~~29 ~~~. ~.. ~ ~m ~ ~. w F~:A~.~': ~ ~~ ~ ~ ~` ~ G ' , . _ ... , ! ~ ~ ~, ~ ~ ~ °r: ~ ~. 5 37,942,705.58 LAIF`LGIP.....: , ~ . ~; -,.. _.q:. 4/11201~1~ ~ Deqosit_ ,_ _~~,, . o., ~:. .,. <,. ~~~:~ ;1`;10;0 000;00, ~ ~ ~ ~ ;> ~~ E~ : ~:° ~~ ~: ~. . LAIF LGIP 4/19/2011 Deposit 8,500,000.00 ~. Subtotal and Ending Balance~ ,~ ~~~ .. ';: . ~~...,~,< ~ : ' , k~'~ ~~~ `~ ~ ~~~Da~~~~,~;. ~ ~ ~' ~ tt t~~ ' Ct~O~ ~7,542;7~fl5~58 ' TOTAL 10,639,875.00 (875.00) 7.29 48,675,670.97 ~~ ~ ~ City of Dublin Cash / Checking Activity Report May 1, 2011 - May 31, 2011 Transaction Interest Issuer Date Comment Deposits Withdrawals Received Balance ~Caiifarri~a A~~~set~Mana~emrent P~og~am~(GAMPj~~ ss,435.80 California Asset Management Program LGIP 5/31/2011 Interest on account 6.95 63,442.75 _ ° , Subtotal and Ending Balance ~'~ ' ~~ ' ~ .~ ~~~°H ~~'~ ~ ~xr`~ ~, ~,~,' a~~ `~,• a~O O~ ~~h:~~O QO ~s' ~:9~T'J~ ~:~ 63~ 42~~J~-~ s.. : ~ , ~. ~ .. ; ~.. ~.., ~ ,~ . ~...._ ~~.~. , _ _M~ , ,~...~..,.~.~ ~ r~tC~~2Nl~/,~~'~~''~{~a`~O~%:@1'CIfT1~11~~~?~ftfO~1,C3:;~1 ~11 ~~' ~ ~=Y"~" 1,069,529.59 Fidelity US Government Portfolio MM 5/2/2011 Interest on account 2.01 1,069,531.60 Fidelity US Government Portfolio MM 5/23/2011 Interest on inv# 10096 20,000.00 1,089,531.60 Fidelity US Government Portfolio MM 5/23/2011 Interest on inv# 10090 24,750.00 1,114,281.60 Fidelity US Government Portfolio MM 5/23/2011 Interest on inv# 10084 63,750.00 1,178,031.60 Subtotal and E ' ndm Balance 9 ' " r~ ~~~ ~ , ..,... .. . ' ~, ~ '° ~¢~ 4~ ~ ~~. ~ ,,..~~ ~,., .¢,...y,. , .,~1~~~.,- ~ ~ ~ . ~a~ 08 540~Ot~~ x.~..,i,,,, ,.,a.-~...«~~. ~~~ f ~ ~,~~. ., ; D ~0~ ,,.. ~, ~ ..~..ro, . ~ ` " 2~0 . ..~ ,~se..~x~~ . _ . ~ .°'~ a178 031~6C1 ° ...~....-....5.-~! ~ , .~,4<...,a.,._: . . ~~1 ~ ~a,.~..,r ~'i' , ~ ~,n; d~ . ~ ,~p -~ ~~~~ ' ~ '~-~~ . 47,542,705.58 No Activity During May Subtotal and Ending Balance ~ ~ ~~< ~ ' .. ,;~~' '~.. ~:-~., Q,~QQ~ .~, ~~~.a~~f~O~Q{} ~~, O:QO ~4~7,~42~7U5"S8~ ~:~, ~'~, s.~.a ,,: 3°'"@: . ~«„ a~ TOTAL 108,500.00 0.00 8.96 48,784,179.93 '\ O ~~ City of Dublin Cash / Checking Activity Report June 1, 2011 - June 30, 2011 Issuer Transaction Comment Deposits Withdrawals Interest Balance Date RPrpivPrl ~~ 1'~O,C~ 1~~~,SS~~~:NIBTtA~~tll~tt.^,PCO ~~1t1't ~GA~i,~?~~~ : 63,442.75 California Asset Management Program LGIP 6/30/2011 Interest on Account 6.11 63,448.86 Subtotal and Ending Balance ~t{~@~;~~, 1;~'.a~"' ,~""`.~~?Y~@T~31'll~ti'~ ~C~t'#~ (l~1~1' ` . ~ ~ aa., .. Fidelity,US:'Governrrient Poitfolio'MM,,,.~ , ,< ~ ~,q x~ ~ ~ %, ,~,_; 671/20~11~ Intecest,On~Qccour~t , ~-~;~ _ ` '~ ~ ~' ~,; ;~,,., 9.26 1,178,031.60 1,178,040.86 Fidelity US Government Portfolio MM 6/3/2011 Interest on inv# 10097 11,000.00 0.00 1,189,040.86 Fitlelify,US;Gov,emmentPo,[tfolia,MM,,, ~, .,;:, 6,/„3Y2011, Futl,;Gall~lnv,#1Q097_,,, „,,,, ,,; 4,00O,OOq:00 __,,,N, "„~~,;' ; d:00' S,189,040.86 Fidelify„US .Govemment Port#olio'`MM ,, , ; : .6,/1;0/20;11, Inte~est on Inv.#;1.0074, d,°, ', ~60 750:00 ~, ,~; ' „ . ;, 0.00 : 5,249,790.86 Fidelity US Government Portfolio MM 6/10/2011 Full Call Inv#10074 3,000,000.00 0.00 8,249,790.86 Fidelity US,Go~ernment:Portfolio`.MM ! ,., 6/10/2Q11 Purchase:lnu# 101,;01 ~. ; ,,,,. ~„ , n ,,,. ;(4;OQ9,280.0~); 4,240,510.86 Fidelify US.Gover,nment'Portfolio MM ,, .. . . ., , ~;,: ;6/T4/2Q1;1 I'nterest on Inv #10077 ..,,:.T~ .. ; ... , , > , 63;750.00 , ,;,, , 0.00;~ 4,304,260.86 Fid'elity US Goyemment Fortfolio MM ~,q6/21/201;1 Interest;.on Inv #10095 ,:;'- 22;076.3.9 „ n~3. ~~-,0..00'° 4,326,337.25 Fidelity US;.Government Portfolio MM „,;,.:,. „,,,:6/23%201-1: Intecest-on,lnu.,#~1,0094„ ~,,,s ` 26;OQ0.00 ~., ~,, ,. ,';~;,, k,.Q.00: 4,352,337.25 Fidelity US Government Portfofio MM 6/27/2011 Purchase Inv #10102 (4,000,000.00) 352,337.25 Fidelity US Government Portfolio MM 6/28/2011 Interest on Inv #10098 17,500.00 0.00 369,837.25 Fideli#y US GovernmentmPortfo„Iio:MM ,,,, ' ,',6/28/2Q11, FuII:Call~:lnu #1.0098~ , „,:, ,w, 4;000;000.00 „ `n ~:::: 0.00'; 4,369,837,25 Fidelity US Government Portfolio MM 6l29/2011 Purchase Inv # 10106 (4,000,000.00) 369,837.25 Fidelity US,Go~ernrrient Rortfolio MM, ~, 6/29%201:1; ~~~ Transfer,ln from LAIF , ` ; 6;610,000.00 '' 0 00:,:: .. 6,979,837.25 Fidelity US Government Portfolio MM 6/30/2011 Interest on Inv #10087 11,250.00 ~ 0.00 6,991,087.25 Fidelity, US;Government Rortfolio:MM ~F.. ;' ,,: .6(3~/2011= lntere`st,o"n~4nv #10091, ,:;- : : -. .:';, ;: :15",750s00 ~;, : 0:00' ~, . 7,006,837.25 Fidelity US Government Portfolio MM 6/30/2011 Purchase Inv #10103 (3,000,000.00) 4,006,837.25 Fidelify,US Government;Portfolio MM, „~~ ,,,,: , , ,,.~,' 6/30/2Q11` P.,u"`rchase:lnv; # 101'04. , „ ° ~z:`° : ;: . „~~ „`.'~(4,000;`000,.00)! 6,837.25 6,837.25 , Subtotal and Ending Balance ~` . ~°'s~ ~ ~~' `: ~ -. .-~~:.~~. ,~~.r, ~. .:: ~~.~~ 1~~$~8;~78~~ ~,~tttt~~~....~.~ ~~~~ ~~r. 9~6 ~~ 6,83~7 25 ~. ~ ~ , .y.,,, , __~ Subtotal and Ending Balance ~ ~,-~~ ~ ~ ~ ~_~~~ ~~H~~ ~ ~,~~~'° ~' Q t~0~ 't'1,5't~1,70;~ 58) s ~v3.,~3~:88 ~~36,48~x739 88~ TOTAL 17,838,076.39 (30,519,985.58) 53,755.25 36,156,025.99 ~ . ~