HomeMy WebLinkAboutAttachment Inv Rep CDC (Finance)ATTACHMENT 1
BACKGROUND
California Government Code Section 53646 requires that staff submit an investment
report to the Community Development (CDC) Chairman and members within 30 days
following the end of the quarter that consists of the following information:
➢ Type of investment or description,
➢ Issuers (bank or institution),
➢ Dollar amount,
➢ Interest rate,
➢ Current market valuation as of the date of the report,
➢ And the date of maturity.
In addition, the code requires that the report states the CDC's compliance with it's
investment policy and include a statement on the CDC's ability to meet it's pool's
expenditure requirements.
OVERVIEW OF CITY INVESTMENTS
The CDC investments most of its funds the California Treasurer's Local Agency
Investment Fund (LAIF). This is a liquid investment pool, which allows participants to
earn market rate returns of large investments, while retaining access to funds within 24
hours of a withdrawal request. Due to the current circumstances of the economy and
the market conditions, LAIF return has been plunging for the last 24 months. For the
month ended December 31, 2010, LAIF's monthly average effective yield was 0.462%.
The investment of debt service reserve funds, the 1999, 2004 and 2005 Tax Allocation
Bonds, is controlled by the designated fiscal agent. The reserve funds account for
15.23% of the CDC's portfolio.
Federal Agency Securities account for 17.68% of the investment portfolio. The average
rate of return is 1.816%
The investment portfolio has the ability to meet the CDC's financial needs.
SUMMARY OF INVESTMENT PORTFOLIO
As of December 31, 2010
INVESTMENTS HELD BY THE CDC OF NATIONAL CITY
% of
Investment Type Book Value Market Value Portfolio
LAIF 11,947,750.42 11,965,209.94 67.08%
Federal Agency Securities 3,149,625.00 3,102,147.50 17.68%
Cash with Fiscal Agent 2,712,910.34 2,712,910.34 15.23%
Totals for December 2010 17,810,285.76 17,780,267.78 100.00%
Totals for December 2009 20,777,983.61
Portfolio decrease from same quarter
last year
Federal Agency
Securities
17.68%
-2,967,697.85
Cash with Fiscal
Agent
15.23%
Investments Liquidity Book Value % of Portfolio
On Demand
Within One Month
One Month to One Year
Within One to Five Years
Cash with Fiscal Agent
11,947,750.42 65.85%
0.00 0.00%
0.00 0.00%
3,482,912.87 19.20%
2,712,910.34 14.95%
18,143,573.63 100.00%
Community Development Commission of National City
Finance Department
Investments
CDC OF NATIONAL CITY
Portfolio Management
Portfolio Summary
December 31, 2010
Par Market Book % of Days to YTM YTM
Value Value Value Portfolio Term Maturity 360 Equiv. 365 Equiv.
LAIF 11,947,750.42 11,965,209.94 11,947,750.42 67.08 1 1 0.456 0.462
Federal Agency Coupon Securities 3,150,000.00 3,102,147.50 3,149,625.00 17.68 1,826 1,773 1.791 1.816
Cash with Fiscal Agent 2,712,910.34 2,712,910.34 2,712,910.34 15.23 1 1 0.000 0.000
Investments
17,810,660.76 17,780,267.78
17,810,285.76 100.00% 324 314 0.622 0.631
Total Earnings
December 31 Month Ending Fiscal Year To Date
Current Year
Average Daily Balance
Eff tive Rate of Return
8,393.31
15,563,350.28
0.63%
JEA
E LADRIDO, FINANCE DIRECTOR
Reporting period 12/01/2010-12/31/2010
Run Date: 01/19/2011 -14:57
43,502.71
15,333,023.30
0.56%
Portfolio CDC1
CP
PM (PRF_PM1) SymRepl6 41.202b
Report Ver. 5.00
CUSIP
CDC OF NATIONAL CITY
Portfolio Management
Portfolio Details - Investments
December 31, 2010
Average Purchase Stated
Investment Issuer Balance Date Par Value
Page 2
YTM YTM Days to Maturity
Market Value Book Value Rate 360 365 Maturity Date
LAIF
SYS10006 10006 LAIF
Subtotal and Average
9,942,750.42
11,947,750.42 11,965,209.94
11,947,750.42 0.462 0.456 0.462 1
11,947,750.42
11,965,209.94 11,947,750.42
0.456 0.462 1
Federal Agency Coupon Securities
313371RZ1 10025 Federal Home Loan Bank 12/02/2010 500,000.00 491,015.00 500,000.00 1.850 1.825 1.850 1,796 12/02/2015
3134G1RA4 10021 Federal Home Loan Mtg Corp 08/25/2010 400,000.00 395,460.00 400,000.00 2.125 2.096 2.125 1,697 08/25/2015
3134G1TR5 10022 Federal Home Loan Mtg Corp 09/30/2010 500,000.00 497,015.00 500,000.00 2.000 1.973 2.000 1,733 09/30/2015
3136FPY30 10023 Federal National Mtg Assn 11/23/2010 750,000.00 730,942.50 749,625.00 1.250 1.243 1.260 1,787 11/23/2015
3136FPB22 10024 Federal National Mtg Assn 11/30/2010 500,000.00 492,755.00 500,000.00 2.000 1.973 2.000 1,794 11/30/2015
3136FPC70 10026 Federal National Mtg Assn 12/15/2010 500,000.00 494,960.00 500,000.00 2.000 1.973 2.000 1,809 12/15/2015
Subtotal and Average 2,907,689.52 3,150,000.00 3,102,147.50 3,149,625.00 1.791 1.816 1,773
•
Cash with Fiscal Agent
SYS10013 10013 National City 2004 TAB 07/01/2010 35,620.32 35,620.32 35,620.32 0.000 0.000 1
SYS10014 10014 National City 2004 TAB 07/01/2010 0.16 0.16 0.16 0.000 0.000 1
SYS10015 10015 National City 2004 TAB _ 07/01/2010 0.05 0.06 0.06 0.000 0.000 1
SYS10016 10016 National City 2004 TAB 07/01/2010 0.00 0.00 0.00 0.000 0.000 1
SYS10010 10010 National City 2005A TAB 07/01/2010 2,344,000.30 2,344,000.30 2,344,000.30 0.000 0.000 1
SYS10011 10011 National City 2005A TAB 07/01/2010 1.24 1.24 1.24 0.000 0.000 1
SYS10012 10012 National City 2005A TAB 07/01/2010 0.26 0.26 0.26 0.000 0.000 1
SYS10008 10008 National City 2005B TAB 07/01/2010 0.13 0.13 0.13 0.000 0.000 1
SYS10009 10009 National City 20056 TAB 07/01/2010 0.00 0.00 0.00 0.000 0.000 1
SYS10020 10020 National City 1999 TAB Reserve 07/01/2010 333,287.87 333,287.87 333,287.87 0.000 0.000 1
Subtotal and Average 2,712,910.34 2,712,910.34 2,712,910.34 2,712,910.34 0.000 0.000 1
Total and Average 15,563,350.28 17,810,660.76 17,780,267.78 17,810,285.76 0.622 0.631 314
Portfolio CDC1
CP
Run Date: 01/19/2011 . 14:57 PM (PRF_PM2) SymRept 6.41.202b
CDC OF NATIONAL CITY
Portfolio Management
Interest Earnings Summary
December 31, 2010
December 31 Month Ending Fiscal Year To Date
Page 3
CD/Coupon/Discount Investments:
Interest Collected 0.00 15,312.50
Plus Accrued Interest at End of Period 8,543.05 8,543.05
Less Accrued Interest at Beginning of Period ( 4,197.22) ( 9,201.02)
Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00)
Interest Earned during Period
Adjusted by Capital Gains or Losses
Earnings during Periods
4,345.83 14,654.53
0.00 125.00
4,345.83 14,779.53
Pass Through Securities:
Interest Collected
Plus Accrued Interest at End of Period
Less Accrued Interest at Beginning of Period
Less Accrued Interest at Purchase During Period
Interest Earned during Period
Adjusted by Premiums and Discounts
Adjusted by Capital Gains or Losses
Earnings during Periods
(
(
0.00
0.00
0.00)
0.00)
0.00
0.00
0.00)
0.00)
0.00 0.00
0.00
0.00
0.00
0.00
0.00 0.00
Cash/Checking Accounts:
Interest Collected 0.30 41,255.32
Plus Accrued Interest at End of Period 61,806.79 -61,806.79
Less Accrued Interest at Beginning of Period (-65,853.97) (-49,274.65)
Interest Earned during Period
4,047.48 28,723.18
Total Interest Earned during Period
Total Capital Gains or Losses
8,393.31 43,377.71
0.00 125.00
Total Earnings during Period
Run Date: 01/19/2011 -14:57
8,393.31 43,502.71
Portfolio CDC1
CP
PM (PRF_PM6) SymRept 6.41.202b