HomeMy WebLinkAbout4.02 CT InvestRpt 02-28-1993
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CITY OF DUBLIN
AGENDA STATEMENT
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CITY COUNCIL MEETING DATE: March 22, 1993
SUBJECT:
city Treasurer's Investment Report
February 28, 1993 ~
Prepared by stan StephenS';$'.. m
~vestment ~eport /.,.~ . ..
Receive Report
as of
Finance Director
EXHIBITS ATTACHED:
RECOMMENDATION:
DESCRIPTION: Attached is the Investment detail list as of
February 28, 1993. The report shows that the City's investment portfolio
totals $18,390,000.00. This represents .an increase of $1,076,828.12 in the
amounts invested when compared to the City's investments of last month, due
primarily to a larger than normal sales tax advance ($564,000) and a SLTPP
reimbursement from the County of Alameda ($355,416). During the month a
$225,000 Federal Home Loan Bank bond matured and we purchased a $400,000
Federal Farm Credit Bank (FFCB) bond. The FFCB bond will mature in five
years (February 2, 1998) and yield 5.80% to maturity.
Note that the rate of interest on investments in the Local Agency
Investment Fund (LAIF) is calculated on a monthly rolling average. The
rate identified for that investment was effective as of February 28, 1993.
The LAIF pays interest once a quarter. It is managed by the State
Treasurer's Office. The advantages in using that investment mechanism is
that there is no minimum investment period and the interest earned is
determined by the length of time the deposit remains in the fund during any
given quarterly period. The City's portfolio will be moved into longer
maturities with favorable rates as LAIF's yield declines.
The maturity schedule of the City's investments will permit the City to
meet its expenditure requirements for the following month.
INSTITUTION
Type of Investment
Date
MATURITY
Value
Rate
INVESTMENT
Cost Yield
state of California
LAIF
$16,100,000.00 $16,100,000.00 4.669%
8/26/96 $490,000.00 7.700 $490,000.00 7.700%
6/10/97 $1,205,000.00 9.200 $1,300,000.00 7.066%
2/02/98 $400,000.00 5.800 $400,000.00 5.800%
$2,095,000.00 $2,190,000.00 6.977%
1/29/98 $100.000.00 6.010 $100,000.00 6.010%
Bank of California
FHLB Debentures (2)
FNMA Debentures (2)
FFCB Debentures (2)
World Savings
Cert of Deposit
Total Investments - per books
$18,390,000.00 (1) 4.951%
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Footnotes
(1) Net decrease in investments during February 1993 = $1,076,828.12
(2) Federal Home Loan Bank (FHLB), Federal National Mortgage Association
(FNMA), and Federal Farm Credit Bank (FFCB) are lawful investments for
local governmental agencies.
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ITEM NO. B-. Z
COPIES TO:
CITY CLERK
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