HomeMy WebLinkAboutCDC Investment Report for Quarter ended March 31, 2011. (Finance)MEETING DATE:
CITY OF NATIONAL CITY, CALIFORNIA
COMMUNITY DEVELOPMENT COMMISSION
COUNCIL AGENDA STATEMENT
May 17, 2011
AGENDA ITEM NO.
ITEM TITLE:
Investment Report for quarter ended March 31, 2011.
PREPARED BY: Arnold Ocana
PHONE: 619-336-4342''
EXPLANATION:
See attached report.
DEPARTMENT: Finance
APPROVED BY: AA,
FINANCIAL STATEMENT: APPROVED: C4,% C44-) Finance
ACCOUNT NO. APPROVED: MIS
Staff certifies that there are sufficient funds to meet the CDC's financial needs.
ENVIRONMENTAL REVIEW:
N/A
ORDINANCE: INTRODUCTION: FINAL ADOPTION:
STAFF RECOMMENDATION:
Accept and File the CDC's Investment Report for the Quarter ended March 31, 2011.
BOARD / COMMISSION RECOMMENDATION:
N/A
ATTACHMENTS:
1 — Background/Investment Overview
2 — Portfolio Summary — Quarter ended March 31, 2011.
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 36 months. For the
month ended March 31, 2011, LAIF's monthly average effective yield was 0.500%.
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
17.14% of the CDC's portfolio.
Federal Agency Securities account for 26.21 % of the investment portfolio. The average
rate of return is 2.022%
The investment portfolio has the ability to meet the CDC's financial needs.
SUMMARY OF INVESTMENT PORTFOLIO
As of March 31,2011
INVESTMENTS HELD BY THE CDC OF NATIONAL CITY
% of
Investment Type Book Value Market Value Portfolio
LAIF
Federal Agency Securities
Cash with Fiscal Agent
8,968,873.41
4,149,625.00
2,712,910.42
8,980,193.52
4,095,169.50
2,712,910.42
56.65%
26.21%
17.14%
Totals for March 2011 15,831,408.83 15,788,273.44 100.00%
Totals for March 2010 20,706,657.55
Portfolio decrease from same quarter
last year
Federal Agency
Securities
26.21%
-4,875,248.72
Cash with Fiscal
Agent
17.14%
LAIF
56.65%
Investments Liquidity Book Value % of Portfolio
On Demand
One Year
Within One to Five Years
Cash with Fiscal Agent
8,968,873.41 56.65%
1,000,000.00 6.32%
3,149,625.00 19.89%
2,712,910.42 17.14%
15,831,408.83 100.00%
Community Development Commission of National City
Finance Department
Investments
CDC OF NATIONAL CITY
Portfolio Management
Portfolio Summary
March 31, 2011
Par Market Book % of Days to YTM YTM
Value Value Value Portfolio Term Maturity 360 Equiv. 365 Equiv.
LAIF 8,968,873.41 8,980,193.52 8,968,873.41 56.65 1 1 0.493 0.500
Federal Agency Coupon Securities 4,150,000.00 4,095,169.50 4,149,625.00 26.21 1,826 1,715 1.994 2.022
Cash with Fiscal Agent 2,712,910.42 2,712,910.42 2,712,910.42 17.14 1 1 0.000 0.000
Investments
15,831,783.83 15,788,273.44 15,831,408.83 100.00%a 479 450 0.802 0.813
Total Earnings
March 31 Month Ending Fiscal Year To Date
Current Year
Average Daily Balance
Effective Rate of Return
9,457.12
15,479,795.66
0.72%
Tess Limfueco, Financial rvices Officer
Reporting period 03/01/2011-03/31/2011
Run Date: 04/13/2011 • 17:06
4424v
71,073.45
15,809,382.16
0.60%
Portfolio CDC1
CP
PM (PRF_PM1)SymRept 6.41.202b
Report Ver. 5.00
CUSIP
CDC OF NATIONAL CITY
Portfolio Management
Portfolio Details - Investments
March 31, 2011
Average Purchase Stated
Investment # Issuer Balance Date Par Value Market Value Book Value Rate 360 365 Maturity Date
Page 2
LAIF
SYS10006 10006 LAIF
Subtotal and Average
9,294,679.86
8, 968, 873.41 8,980,193.52
YTM YTM Days to Maturity
8, 968, 873.41 0.500 0.493 0.500 1
8,968,873.41
8,980,193.52 8,968,873.41
0.493 0.500 1
Federal Agency Coupon Securities
3134G1RA4 10021 Federal Home Loan Mtg Corp 08/25/2010 400,000.00 398,512.00 400,000.00 2.125 2.096 2.125 1,607 08/25/2015
3134G1TR5 10022 Federal Home Loan Mtg Corp 09/30/2010 500,000.00 493,215.00 500,000.00 2.000 1.973 2.000 1,643 09/30/2015
3136FPYS0 10023 Federal National Mtg Assn 11/23/2010 750,000.00 730,462.50 749,625.00 1.250 1.243 1.260 1,697 11/23/2015
3136FPB22 10024 Federal National Mtg Assn 11/30/2010 500,000.00 489,985.00 500,000.00 2.000 1.973 2.000 1,704 11/30/2015
313371RZ1 10025 Federal Home Loan Bank 12/02/2010 500,000.00 490,090.00 500,000.00 1.850 1.825 1.850 1,706 12/02/2015
3136FPC70 10026 Federal National Mtg Assn 12/15/2010 500,000.00 493,090.00 500,000.00 2.000 1.973 2.000 1,719 12/15/2015
313372TR5 10030 Federal Home Loan Bank 03/14/2011 500,000.00 500,530.00 500,000.00 2.640 2.604 2.640 1,809 03/14/2016
313372XS8 10031 Federal Home Loan Bank 03/30/2011 500,000.00 499,285.00 500,000.00 2.700 2.663 2.700 1,825 03/30/2016
Subtotal and Average 3,472,205.65
4,150,000.00 4,095,169.50 4,149,625.00 1.994 - 2.022 1,715
Cash with Fiscal Agent
SYS10013 10013 National City 2004 TAB 07/01/2010 35,621.22 35,621.22 35,621.22 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 0.00 0.00 0.00 0.000 0.000 1
SYS10016 10016 National City 2004 TAB 01/31/2011 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 0.00 0.00 0.00 0.000 0.000 1
SYS10028 10028 National City 2005A TAB 01/31/2011 0.00 0.00 0.00 0.000 0.000 1
SYS10008 10008 National City 20058 TAB 07/01/2010 0.00 0.00 0.00 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
SYS10027 10027 National City 2005E TAB 01/31/2011 0.00 0.00 0.00 0.000 0.000 1
SYS10020 10020 National City 1999 TAB Reserve 07/01/2010 333,287.50 333,287.50 333,287.50 0.000 0.000 1
SYS10029 10029 National City 1999 TAB Reserve 01/31/2011 0.00 0.00 0.00 0.000 0.000 1
Subtotal and Average 2,712,910.15
2,712,910.42
2,712,910.42 2,712,910.42
0.000 0.000 1
Total and Average 15,479,795.66
Run Date: 04/13/2011 - 17:06
15,831,783.83 15,788,273.44
15,831,408.83 0.802 0.813 450
Portfolio CDC1
CP
PM (PRF_PM2) SymRept 6.41.2026