HomeMy WebLinkAbout4.6 Treasurer's Report 09-30-1991 CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: October 10, 1991
SUBJECT: City Treasurer's Investment Report as of September 30,
1991
(Prepared by: Phillip S. Molina, Finance Director)
EXHIBITS ATTACHED: City Treasurer's Investment Report
RECOMMENDATION:/Z"" Accept the Treasurer' s Investment Report.
DESCRIPTION: Attached is the Investment Detail List as of September 30,
1991 . The report shows that the City's investment portfolio totals
$15, 265, 311.26. This is a decrease of $602, 000 in amount invested when
compared to the City's investments of last month. The Treasurer was required
to draw down the portfolio on certificates of deposits that were maturing in
order to process the City' s warrant registers. There are two major reasons
for the need for the draw down: 1 ) The first is the decrease in September
sales tax revenues of $454, 194 compared to the sales tax revenues of
September 1990. This decrease is due to the current recession and the
adjustment for the previous overpayment ($153, 446.91 ) to Dublin on Target
Stores sales. 2) The City has not yet received approximately $201 , 380 in
Federal Aid Urban funds for which the City has submitted reimbursement from
the State.
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 for the moving quarter average ending
September 30, 1991 . The Fund pays interest once a quarter. It is managed by
the State Treasurer's Office. The advantage in using this 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 quarter period.
The maturity schedule of the City's investments will permit the City to meet
its expenditure requirement for the following month.
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COPIES TO:
ITEM No. CITY CLERIC
FILE 1,31 '30
.-City of Dublin
City Treasurer's Investment Report
September 30 , 1991
interest
Institution Type of Amount rate of maturity
Investment invested investment date
State Treasurer LAIF $10,490, 000 .00 * 7 .005 0 0 0 1
First Bank Beverly Hic-d $95,000. 00 6 . 500 10 2 91 2
Gold River S&L c-d $99, 000 .00 6 . 850 10 7 91 3
San Fran. S&L c-d $99,000. 00 6. 250 10 8 91 5
1st Rep Thrift San D c-d $99,000 .00 6. 250 10 8 91 6
1st Republic Thrift c-d $100,000.00 6. 250 10 8 91 4
Topa Thrifts & Loan c-d $99,000 .00 8 . 350 10 9 91 7
Executive S&L c-d $99,000. 00 8 .300 10 10 91 8
Great Pacific S&L c-d $99,000 . 00 8 . 375 10 11 91 9
Great Pacific S&L Cltr c-d $200,000. 00 8 . 375 10 12 91 10
Security Pacific Statc-d $99,000 . 00 6 . 250 10 15 91 12
Stockton S&L c-d $100 ,000.00 6 .725 10 15 91 11
Stockton S&L coll c-d $300 ,000 .00 6 .775 10 15 91 13
Western Financial S&Lc-d $100,000 .00 8 .500 10 15 91 14
Girard S. BAnk c-d $99 , 000 .00 8 . 300 10 17 91 15
Allied Savings c-d $99,000 .00 8. 250 10 18 91 16
Paramount S. Bank c-d $100,000 .00 6. 400 10 21 91 17
Beverly, Hills FSB c-d $99,000 .00 8 . 200 10 23 91 18
Continental Savings c-d $99,000 .00 8 . 250 10 23 91 19
Glendale Fed Bank c-d $99,000.00 6 . 550 10 28 91 21
Hawthorne S&L c-d $100,000 . 00 6 . 300 10 28 91 20
American Internatnl Bc-d $100,000. 00 6 . 250 11 20 91 22
Standard Pacific c-d $99 ,000. 00 6 . 350 11 25 91 23
Sequoia Nation Bank c-d $100 ,000 .00 6 . 500 12 24 91 24
Guardian S&L c-d $99 ,000.00 7 . 750 1 29 92 25
Plaza S&LA c-d $99,000 .00 6 .500 2 18 92 26
Countrywide T&L fdic c-d $100,000 .00 7 . 300 2 28 92 27
First Fed Bank c-d $99,000. 00 6.850 3 19 92 28
Bank of Calif FNMAY(4) $500,000 .00 8 .000 4 10 96 29
Bank of Calif .FNMAY Debent. (4) $500,000.00 8.000 4 10 96 30
City Natn'1 BK FNMAY Debent. (4) $300,000 . 00 8 . 000 4 10 96 31
Bank of Ca(FHLB Debentures) $496,311.26 7 .700 8 26 96 32
CURRENT AMT INVESTED $15,265,311. 26
PRIOR PERIOD INVESTED $15, 867 , 311 . 26
increase(decrease) ($602 ,000 .00)
weighted average yield next month 7 . 147%
footnotes
1 .and 3 . United States Treasury Securities are fully guaranteed
by the U.S. Government.
2 . The Federal Home Loan bank consolidated bonds are lawful
investments for all fiduciary, trust, and public funds
including those under the control of the U.S. Government.
4 . FNMAY stands for the Federal National Mortgage Association. Obligations
issued by FNMAY debentures are "lawful investments and may be accepted
as securities for fiduciaries , trusts, and public funds. "
5. Have been asked by the Federal Government to stop lending and
investing activities to improve equity position (1/26/90)
6 . * = current transactions, but does not show terminated accounts .