HomeMy WebLinkAboutTreasurer Report Attachment-FinanceATTACHMENT 1
BACKGROUND
California Government Code Section 53646 requires the City Treasurer or the Chief
Financial Officer to submit to the City Council a quarterly report of the City's investment
portfolio consisting 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 City's compliance with it's
investment policy and include a statement on the City's ability to meet it's pool's
expenditure requirements.
OVERVIEW OF CITY INVESTMENTS
The City's pooled investment portfolio as of the quarter ended September 30, 2011 is
summarized below and compared to the quarter ended September 30, 2010.
POOLED INVESTMENT PORTFOL 0
QUARTER ENDED AS OF'.
Par Value
46,648,557.87
45,672,181.98
Book Value (1)
46,648, 807.87
45,672,456.98
Market Value (2)
46,809,864.88
45,864,569.56
(1) The book value is the actual cost of investments.
(2) The market value is the amount at which the investments could be sold.
The City of National City has 82.34% of the total portfolio invested in 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 48 months. For the month ended September 30, 2011, LAIF's
monthly average effective yield was 0.378%.
The summary of the City's investment portfolio is illustrated in the following chart.
SUMMARY OF INVESTMENT PORTFOLIO
As of September 30, 2011
INVESTMENTS HELD BY THE CITY
YTM % of
Investment Type Book Value Market Value 365 Equiv. Portfolio
LAIF 38,408,807.87 38,479,771.68 0.378% 82.34%
Medium Term Notes 500,000.00 505,550.00 4.000% 1.07%
Federal Agency Securities 5,739,750.00 5,824,543.20 2.228% 12.30%
CDARS Program 2,000,000.00 2,000,000.00 1.050% 4.29%
Totals for September 2011 46,648,557.87 46,809,864.88 0.857% 100.00%
Totals for September 2010 45,672,181.98
Portfolio increase from same quarter
last year
976,375.89
CDARS Program
Federal Agency 4.29%
Securities
12.30%
Medium Term Notes
1.07%
Investments Liquidity
82.34%
Book Value % of Portfolio
On Demand
Within One Month
One Month to One Year
One Year to Two Years
Five Years
City of National City
Finance Department
38,408,807.87 82.34%
0.00 0.00%
2,500,000.00 5.36%
1,000,000.00 2.14%
4,739,750.00 10.16%
46,648,557.87 100.00%
Federal Agency Securities account for 12.30% of the investment portfolio. The average
rate of return is 2.228% which is the average yield offered in the current market of
Security Bonds with same terms.
The City has $2 million investment in the CDARS program with Neighborhood National
Bank. The current investment yield is 1.050% and accounts for 4.29% of the portfolio.
The pooled investment portfolio has the ability to meet the City's financial needs.
Investments
City of National City
City of National City
Portfolio Management
Portfolio Summary
September 30, 2011
Par Market Book % of Days to YTM/C YTM/C
Value Value Value Portfolio Term Maturity 360 Equiv. 365 Equiv.
LAIF
Medium Term Notes
Federal Agency Securities
CDARS
38,408,807.87 38,479,771.68 38 408 807.87 82.34 1 1 0.373 0.378
500,000.00 505,550.00 500,000.00 1.07 1,462 137 3.945 4.000
5,740,000.00 5,824,543.20 5,739,750.00 12.30 1,827 282 2.393 2.426
2,000,000.00 2,000,000.00 2,000,000.00 4.29 364 159 1.036 1.050
Investments 46,648,807.87
Total Earnings
Current Year
Average Daily Balance
Effective Rate of Return
47,
46,809,864.88 46,648,557.87 100.00% 257 44 0.688 0.698
September 30 Month Ending
26,948.30
45,565,224.54
0.72%
Tina Norrdin, (financial Services Officer
Reporting period 09/01/2011-09/30/2011
Run Date: 11/03/2011-14'.11
Fiscal Year To Date
91,246.23
48,458,351.02
0.75%
Portfolio CNC
CC
PM (PRF_PM1) SymRept 6.41.202b
Report Ver. 5.00
CUSIP Investment#
Issuer
City of National City
Portfolio Management
Portfolio Details - Investments
September 30, 2011
Average Purchase
Balance Date
Par Value Market Value
Stated
Book Value Rate
Page 2
YTM/C Days to Maturity
S&P 365 Maturity Date
LAIF
98-37-576
Medium Term Notes
11058 Local Agency Investment Fund
36966RV94 11269
Federal Agency Securities
313372TR5
3128X8N57
3134G2DA7
3136FPA83
3136FPVC8
3136FPYS0
3136FPXD4
3136FPB22
3136FRB51
3136F82A2
3136F82A2 C
3136F9C67
Subtotal and Average 37,058,807.87
GEN ELEC CAP CRP
Subtotal and Average 500,000.00
11381 Federal Home Loan Bank
11342 Federal Home Loan Mrtgage Corp
11384 Federal Horne Loan Mrtgage Corp
11362 Federal Natl. Mortgage Assoc.
11371 Federal Natl. Mortgage Assoc.
11372 Federal Natl. Mortgage Assoc.
11374 Federal Natl. Mortgage Assoc.
11377 Federal Natl. Mortgage Assoc.
11385 Federal Natl. Mortgage Assoc.
11266 Fannie Mae
11267 Fannie Mae
11274 Fannie Mae
CDARS
SYS11382 11382
Subtotal and Average 6,006,416.67
Neighborhood National Bank
Subtotal and Average 2,000,000.00
38,408,807.87 38,479,771.68
38,408,807.87 0.378
38,408,807.87 38,479,771.68
02/14/2008 500,000.00
38,408,807.87
0.378 1
0.378 1
505,550.00 500,000.00 4.000 AA+ 4.000 137 02/15/2012
500,000.00
03/14/2011 750,000.00
06/18/2009 240,000.00
04/14/2011 500,000.00
08/18/2010 500,000.00
11/19/2010 500,000.00
11/23/2010 500,000.00
11/23/2010 250,000.00
11/30/2010 500,000.00
07/27/2011 1,000,000.00
02/12/2008 250,000.00
02/12/2008 500,000.00
03/11/2008 250,000.00
5,740,000.00
03/10/2011 2,000,000.00
505,550.00
757,995.00
244,543.20
500,290.00
516,500.00
500,795.00
499,525.00
250,390.00
499,870.00
1,004,800.00
262,330.00
524,495.00
263,010.00
500,000.00 4.000 137
750,000.00 2.640 AAA 2.640
240,000.00 3.000 AAA 3.000
500,000.00 2.650 AAA 2.650
500,000.00 2.000 AAA 2.000
500,000.00 1.250 AAA 1.250
499,750.00 1.250 AAA 1.300
250 000.00 1.000 AAA 1.000
500,000.00 2.000 AAA 2.000
1,000,000.00 2.375 AAA 2.375
250,000.00 4.000 AAA 4.000
500,000.00 4.000 AAA 4.000
250,000.00 4.000 AAA 4.000
5,824,543.20 5,739,750.00
2,000,000.00
•
2,000,000.00 1.050
2,000,000.00 2,000,000.00
2,000,000.00
165 03/14/2016
261 06/18/2014
13 04/14/2016
1,417 08/18/2015
49 11/19/2015
53 11/23/2015
53 11/23/2015
60 11/30/2015
118 07/27/2016
500 02/12/2013
500 02/12/2013
527 03/11/2013
2.426 282
1.050 159 03/08/2012
1.050 159
Total and Average 45,565,224.54
46,648,807.87 46,609,864.88
46,648,557.87
0.698 44
Portfolio CNC
CC
Run Date: 11/03/2011 - 14:11 PM (PRF_PM2) SymRept 6.41.202b