HomeMy WebLinkAbout4.03 CT Investmnt Rpt
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CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: May 10, 1993
SUBJECT: City Treasurer's Investment Report
April 30, 1993
Prepared by Stan stePhen~im
EXHIBITS ATTACHE::.~Investment Report !~}1~\
RECOMMENDATION: ~- Receive Report
as of
Finance Director
DESCRIPTION: Attached is the Investment detail list as of
April 30, 1993. The re~ort shows that the City's investment portfolio
totals $18,690,000.00. ThlS represents an increase of $1,300,000.00 in the
amounts invested when compared to the city's investments of last month, due
primarily to receipt of property Tax Revenue totaling $1,299,231.46.
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 April 30, 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 quring any
given quarterly period.
The maturity schedule of the city's investments will permit the City to
meet its expenditure requirements for the following month.
INSTITUTION MATURITY INVESTMENT
Type of Investment Date value Rate Cost Yield
State of california
LAIF $16,400,000.00 $16,400,000.00 4.654%
Bank of California
FHLB Debentures (2) 8/26/96 $490,000.00 7.700 $490,000.00 7.700%
FNMA Debentures (2) 6/10/97 $1,205,000.00 9.200 $1,300,000.00 7.066%
FFCB Debentures (2) 2/02/98 $400.000.00 5.800 $400.000.00 5.800%
$2,095,000.00 $2,190,000.00 6.977%
World Savings
Cert of Deposit 1/29/98 $100.000.00 6.010 $100.000.00 6.010%
Total Investments - per books $18,690,000.00 (1) 4.933%
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Footnotes
(1) Net increase in investments during April 1993 = $1,300,000.
(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. -.9. 7
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