HomeMy WebLinkAboutCDC Invest Report for 4th Qtr FY11 FinanceMEETING DATE:
CITY OF NATIONAL CITY, CALIFORNIA
COMMUNITY DEVELOPMENT COMMISSION
COUNCIL AGENDA STATEMENT
August 2, 2011
AGENDA ITEM NO.
ITEM TITLE:
Investment Report for quarter ended June 30, 2011.
PREPARED BY: Arnold Ocana
PHONE: 619-336-4342,
EXPLANATION:
See attached report.
DEPARTMENT:
APPROVED BY:
FINANCIAL STATEMENT:
ACCOUNT NO.
APPROVED:
APPROVED:
Staff certifies that there are sufficient funds to meet the CDC's financial needs.
ENVIRONMENTAL REVIEW:
N/A
ORDINANCE: INTRODUCTION:
FINAL ADOPTION:
nance
IS
STAFF RECOMMENDATION:
Accept and File the CDC's Investment Report for the Quarter ended June 30, 2011.
BOARD / COMMISSION RECOMMENDATION:
N/A
ATTACHMENTS:
1 — Background/Investment Overview
2 — Portfolio Summary — Quarter ended June 30, 2011.
ATTACHMENT
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 June 30, 2011, LAIF's monthly average effective yield was 0.448%.
The investment of debt service reserve funds, the 1999, 2004 and 2005 Tax Allocation
Bonds, and the HUD Section 108 Loan Program funds are controlled by the designated
fiscal agent. The reserve funds account for 19.31% of the CDC's portfolio.
Federal Agency Securities account for 15.95% of the investment portfolio. The average
rate of return is 0.71%
The investment portfolio has the ability to meet the CDC's financial needs.
SUMMARY OF INVESTMENT PORTFOLIO
As of June 30, 2011
INVESTMENTS HELD BY THE CDC OF NATIONAL CITY
% of
Investment Type Book Value Market Value Portfolio
LAIF 12,782,387.56 12,802,538.61 64.74%
Federal Agency Securities 3,149,625.00 3,147,729.50 15.95%
Cash with Fiscal Agent 3,812,911.51 3,812,911.51 19.31%
Totals for June 2011 19,744,924.07 19,763,179.62 100.00%
Totals for June 2010 19,204,284.56
Portfolio decrease from same quarter
last year
Federal Agency
Securities
15.95%
540,639.51
Cash with Fiscal
Agent
19.31%
Investments Liquidity Book Value % of Portfolio
On Demand
One Year
Within One to Five Years
Cash with Fiscal Agent
12,782,387.56
1,900,000.00
1,249,625.00
3,812,911.51
64.74%
9.62%
6.33%
19.31%
19,744,924.07 100.00%
Community Development Commission of National City
Finance Department
Investments
CDC OF NATIONAL CITY
Portfolio Management
Portfolio Summary
June 30, 2011
Par Market Book % of Days to YTM YTM
Value Value Value Portfolio Term Maturity , 360 Equiv. 365 Equiv.
LAIF 12,782,387.56 12,802,538.61 12,782,387.56 64.74 1 1 0.442 0.448
Federal Agency Coupon Securities 3,150,000.00 3,147,729.50 3,149,625.00 15.95 1,826 1,606 1.891 1.918
Treasury Coupon Securities 1,094,028.00 1,094,028.00 1,094,028.00 5.54 864 479 0.840 0.851
Cash with Fiscal Agent 2,718,883.51 2,718,883.51 2,718,883.51 13.77 1 1 0.000 0.000
Investments
19,745,299.07 19,763,179.62
19,744,924.07 100.00% 340 284 0.634 0.643
Total Earnings
June 30 Month Ending
Fiscal Year To Date Fiscal Year Ending
Current Year 11,856.90
20,461,590.44
Effective Rate of Return 0.71%
Average Daily Balance
Leslie Deese, Assistant anager
Reporting period 06/01/2011-06/30/2011
Run Date: 07/21/2011 -08:05
116,257.27
16,834,711.12
0.69%
116,257.27
Portfolio CDC1
CP
PM (PRF PM1) SymRept 6.41202b
Report Ver. 5.00
CUSIP
CDC OF NATIONAL CITY
Portfolio Management
Portfolio Details - Investments
June 30, 2011
Page 2
Average Purchase Stated YTM YTM Days to Maturity
Investment# Issuer Balance Date Par Value Market Value Book Value Rate 360 365 Maturity Date
LAIF
SYS10006
10006 LAIF
Subtotal and Average 12,782,387.56
12,782,387.56
12,802,538.61 12,782,387.56 0.448 0.442 0.448
12,782,387.56 12,802,538.61 12,782,387.56 0.442 0.448 1
Federal Agency Coupon Securities
3134G1RA4 10021 Federal Home Loan Mtg Corp 08/25/2010 400,000.00 400,432.00 400,000.00 2.125 2.096 2.125 1,516 08/25/2015
3134GITR5 10022 Federal Home Loan Mtg Corp 09/30/2010 500,000.00 499,040.00 500,000.00 2.000 1.973 2.000 1,552 09/30/2015
3136FPYS0 10023 Federal National Mtg Assn 11/23/2010 750,000.00 743,482.50 749,625.00 1.250 1.243 1.260 1,606 11/23/2015
3136FP822 10024 Federal National Mtg Assn 11/30/2010 500,000.00 499,675.00 500,000.00 2.000 1.973 2.000 1,613 11/30/2015
313371RZ1 10025 Federal Home Loan Bank 12/02/2010 500,000.00 499,900.00 500,000.00 1.850 1.825 1.850 1,615 12/02/2015
313372TR5 10030 Federal Home Loan Bank 03/14/2011 500,000.00 505,200.00 500,000.00 2.640 2.604 2.640 1,718 03/14/2016
Subtotal and Average 3,866,291.67
3,150,000.00 3,147,729.50
3,149,625.00 1.891 1.918 1,606
Treasury Coupon Securities
S35399850 10032 FEDERAL RESERVE BANK NYC 06/11/2010 271,809.00 271,809.00 271,809.00 0.340 0.335 0.340 41 08/11/2011
S35399880 10033 FEDERAL RESERVE BANK NYC 06/11/2010 10,910.00 10,910.00 10,910.00 0.530 0.523 0.530 215 02/01/2012
S35399910 10034 FEDERAL RESERVE BANK NYC 06/11/2010 290,939.00 290,939.00 290,939.00 0.740 0.730 0.740 397 08/01/2012
S35399920 10035 FEDERAL RESERVE BANK NYC 06/11/2010 5,491.00 5,491.00 5,491.00 0.970 0.957 0.970 561 02/01/2013
S35399940 10036 FEDERAL RESERVE BANK NYC 06/11/2010 310,518.00 310,518.00 310,518.00 1.190 1.174 1.190 762 08/01/2013
S35399970 10037 FEDERAL RESERVE BANK NYC 06/11/2010 204,361.00 204,361.00 204,361.00 1.190 1.174 1.190 762 08/01/2013
Subtotal and Average 1,094,028.00
1,094,028.00 1,094,028.00
1,094,028.00 0.840 0.851 479
Cash with Fiscal Agent
SYS10013 10013 National City 2004 TAB 07/01/2010 35,622.14 35,622.14 35,622.14 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 2005B TAB 07/01/2010 0.00 0.00 0.00 0.000 0.000 1
SYS10009 10009 National City 2005B TAB 07/01/2010 0.00 0.00 0.00 0.000 0.000 1
SYS10027 10027 National City 2005B 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
SY510038 10038 HUD-108 NC DEFEASANCE CASH 07/01/2010 5,972.17 5,972.17 5,972.17 0.000 0.000 1
Portfolio CDC1
CP
Run Date: 07/21 / 2011 - 08:05
PM (PRF_PM2) SymRept 6.41.202b
CUSIP
CDC OF NATIONAL CITY
Portfolio Management
Portfolio Details - Investments
June 30, 2011
Page 3
Average Purchase Stated YTM YTM Days to Maturity
Investment# Issuer Balance Date Par Value Market Value Book Value Rate 360 365 Maturity Date
Subtotal and Average 2,718,883.21
2,718,883.51
2,718,883.51 2,718,883.51
0.000 0.000 1
Total and Average 20,461,590.44
Run Date: 07/21 /2011 - 08:05
19,745,299.07 19,763,179.62
19,744,924.07 0.634 0.643 284
Portfolio CDC1
CP
PM (PRF_PM2) SymRept 6.41.2028