HomeMy WebLinkAbout4.03 CT InvestRpt
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CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: January 25, 1993
SUBJECT:
g;~~11'~~~a~~~ei;~2Investme~t 0 t. as of
/? Prepared by Stan stePhens. ... r'm Finance
EXHIBITS ATTACHED: Investment Report
RECOMMENDATIO~~eceive Report
Director
DESCRIPTION: Attached is the Investment detail list as of December
31, 1992. The report shows that the city's investment portfolio totals
$18,786,652.06. This represents an increase of $2,000,000.00 in the
amounts invested when compared to the City's investments of last month, due
primarily to the distribution of current secured property taxes by the
County of Alameda.
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 12-31-92. 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 is poised to move into longer maturities as
the .rates begin to improve.
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
$16.773.480.18
$16r773,480.18 (1) 4.647%
Bank of California
FHLB Debentures
FHLB Debentures
FNMA Debentures
(2)
(2)
(2)
2/18/93
8/26/96
6/10/97
$225,000.00
$490,000.00
$1.205.000.00
$1.920.000.00
7.650
7.700
9.200
$223,171.88
$490,000.00
$1.300.000.00
$2.013.171.88
7.710%
7.700%
7.066%
7.292%
Total Investments - per books
$18,786,652.06 (1) 4.930%
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Footnotes ,
(1) Net increase in investments (all LAIF) during December 1992 - $2,000,000.
(2) Federal Home Loan Bank (FHLB) and Federal National Mortgage Association
(FNMA) are lawful investments for local governmental agencies.
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ITEM NO. -4.7-
COPIES TO:
CITY CLERK
FILE ..~