HomeMy WebLinkAbout2012/05/22 Item 04~= ~~ CITY COUNCIL
.' ' ~ AGENDA STATEMENT
~~ CITY OF
~` CHULAVISfA
MAY 22, 2012, Item
ITEM TITLE: INVESTMENT REPORT FOR THE QUARTER ENDED
MARCH 31, 2012
SUBMITTED BY: DIRECTOR OF FINANCE/TREASURED
REVIEWED BY: CITY MANAGER ~. ~i~
ASSISTANT CITY MANAGER ~~
4/STHS VOTE: YES ~ NO ^X
SUMMARY
Transmitted herewith is the City's investment report for the quarter ended March 31, 2012. To
meet the reporting requirements set forth in the California Government Code Sections 53600 et
seq. and 53646 and the City of Chula Vista Investment Policy (Council Policy No. 220-01), a
separate report was distributed to the City Council last month.
ENVIRONMENTAL REVIEW
The Environmental Review Coordinator has reviewed the proposed activity for compliance with
the California Environmental Quality Act (CEQA) and has determined that the activity is not a
"Project" as defined under Section 15378 (b)(4) of the State CEQA Guidelines; therefore,
pursuant to Section 15060(c)(3) of the State CEQA Guidelines the activity is not subject to
CEQA. Thus, no environmental review is necessary.
RECOMMENDATION
Council accept the report.
BOARDS/COMMISSION RECOMMENDATION
Not applicable.
DISCUSSION
The total cash and investment portfolio as of March 31, 2012 was $191,771,580. This is an
increase of approximately $10.9M from December 31, 2011 to March 31, 2012. For the quarter
ended March 31, 2012, the earned interest yield was 0.979%, a decrease from the 1.121%
reported for the quarter ended December 31, 2011, reflecting reinvestment in lower yielding
investments with longer maturity dates. The weighted average maturity as of March 31, 2012
was 2.45 yeazs, a decrease from the 2.63 years in the prior quarter. The weighted average
4-1
MAY 22, 2012, Item
Page 2 of 2
maturity remains sufficiently liquid to enable the City to meet all operating requirements which
might be reasonably anticipated.
DECISION MAKER CONFLICT
Staff has determined that the action contemplated by this item is ministerial, secretarial, manual,
or clerical in nature and does not require the City Council members to make or participate in
making a governmental decision, pursuant to California Code of Regulations section 18702.4(a).
Consequently, this item does not present a conflict under the Political Reform Act (Cal. Gov't
Code & 87100, et seq.).
CURRENT YEAR FISCAL IMPACT
Considering the projected timing of cash receipts and disbursements and the structure of the
Pooled Investment Portfolio, the City should be able to comfortably meet overall cash flow
needs over the next six months. There is no direct fiscal impact by this action.
ONGOING FISCAL IMPACT
There is no ongoing fiscal impact by this action.
ATTACHMENTS
A. Investment Report for the Quarter Ended March 31, 2012
Prepared by: E Adachi, Associate Accountant, Finance Dept.
4-2
``~~
-~~.-.
CHUL
Finance
Investment Report for the Quarter Ended March 31, 2012
May 15, 2012
Honorable Mayor and City Council,
I am pleased to present this report of investment activity for the quarter ended March 31, 2012
in compliance with the reporting requirements as set forth in the California Government Code
Sections 53600 et seq. and the City of Chula Vista Investment Policy. The information
presented in this report highlights the investment activity for the quarter ended March 31, 2012
as well as provides a comparison to the quarters ended December 31, 2011 and March 31,
2011.
Market Overview
The Federal Open Market Committee (FOMC) continues to maintain the key Fed Funds rate at
a target range of 0.00% to 0.25% in hopes of stimulating the economy. Two-year Treasuries
yielding 0.27% at the beginning of the quarter rose slightly to 0.33% at the end of the quarter.
The overall consumer price index (CPI) rose 2.7% on ayear-over-year basis, and the core CPI
(excluding food and energy) showed a 2.3% increase year-over-year indicating that inflation
remains under control but is starting to climb.
Portfolio Composition
The table below provides a summary of the City's total investment portfolio as of March 31,
2012. The Investment Portfolio ($184,137,597), Cash/Time Deposits ($7,633,983) and Bank
Trustee/Fiduciary Funds ($83,100,733) continue to be invested in accordance with the
Government Code, bond covenants and the Council Investment Policy as adopted on March 13,
2012.
4-3
Honorable Mayor and City Council
Investment Report Quarter ended 03/31/2012
Page 2 of 4
Summary of Cash and Investments as of March 31, 2012
Investment Type Par Value Market Value Book Value Portfolio
Investment Portfolio
Federal Securities 135,000,000 135,077,920 135,000,000 49.11%
Pooled Investments 47,137,597 47,169,151 47,137,597 17.15%
Corporate Bonds 2 000 000 2,007,540 1,998,700 0.73%
Subtotal 184,137,597 184,254,611 184,136,297 66.26%
Cash/Time Deposits $7,633,983 $7,633,983 $7,633,983 2.78%
Total Cash &Investments Held by the City $191,771,580 $191,888,594 $191,770,280 69.77%
Held by Bank Trustee/Fiduciary Funds (1)
U. S. Government
Investment Agreements
Mutual Funds
Cash with Fiscal Agents
Restricted Cash
2,021,563
14,897,830
61,969,412
0
4,211,929
2,082,100
14,897,830
61,969,412
0
4,211,929-
2,021,563
14,897,830
61,969,412
0
4,211,929
0.74%
5.42%
22.54%
0.00
1.53%
Total Held by Bank TrusteelFiduciary Funds $83 100 733 $83,161,271 $83,100,733 30.23%
Total Portfolio $274,872,313 $275,049,865 $274,871,013 100.00%
(1) Reflects bond proceeds held by trustee in accordance with bond covenants
The graph below provides a snapshot of the portfolio composition by investment type for that
portion of the portfolio not held by the bank trustee or in a fiduciary fund.
Portfolio Composition
as of March 31, 2012
US
Agency
73%
Corporate ~SD County Pool
Coupon Bonds CalTrust 11%
1% 1%
IF (State
Pool)
14%
4-4
Honorable Mayor and City Council
Investment Report Quarter ended 03/31/2012
Page 3 of 4
Portfolio Performance
Portfolio performance is provided in more detail in the attachments to the report. The summary
information provided below includes the total portfolio income recognized for the last quarter as
compared to the prior quarter and the same quarter one year ago.
Total Portfolio Income Recognized
Accrual Basis
March 31, 2012 December 31, 2011 March 31, 2011
Quarter-End
Net Interest Earnings $ 492,792 $ 505,055 $ 656,198
Net Gains (Losses) from Sales $ 5,740
Net TotallncomeRecognized $ 492792 $ 510,795 $ 656,198
Fiscal Year-to-Date
Net Interest Earnings $ 1,558,828 $ 1,066,036 $ 1,932,226
Net Gains (Losses) from Sales $ 5 740 $ 5,740 $ 4,700
Net Total Income Recognized $ 1 564 568 $ 1,071,776 $ 1,936,926
This table shows the City's average yield to maturity as of March
31, 2012 as compared to the County of San Diego and other
cities in the county. Carlsbad and Oceanside both have
dedicated staff that actively manage their portfolios by buying
and selling investments daily as opposed to our more passive
"hold-to-maturity" investment style. Liquidity needs and risk
tolerance can also affect yields.
Benchmark Comparison
of San Diego
Cajon
The following graph compares the monthly earned interest yield of the City's Portfolio Fund with
the monthly average yields for the same period of the State of California Local Agency
Investment Fund (LAIF) and the two-year and three-year treasury from March 2010 through
March 2012.
z.o%
o.a%
Monthly Benchmark Comparison
t.s%
t.o%
o.s%
Geertn nno-tn Mwr.tt Jun-11 Seo-1t Deutt Mar-t
-r City ~IAIF -,a-2y~Trsasury ~3Yr Treasury
Honorable Mayor and City Council
Investment Report Quarter ended 03/31/2012
Page 4 of 4
Per Section 16.1 of the City's Investment Policy, the two-
year U.S. Treasury and the Local Agency Investment
Fund yields are the performance benchmarks to be used
when determining whether market yields are being
achieved. The three-year U.S. Treasury is added as an
additional point of reference in order to provide an upper
range that is above the weighted average maturity of the
City's portfolio, which is at 894 days.
Investment Activity
Benchma_r Yield " ADM i
City 0.98% 894
LAIF 0.38% 243
2 Year Treasury 0.33% 730
3YearTreasu 0.51% 1,095
ADM = Avera a Da s to Maturit
During the quarter, twelve investments totaling $39,000,000 were redeemed by the issuers prior to
their maturity dates, and fourteen Federal Agency Securities totaling $44,000,000 were purchased
using the City's Investment Policy guideline to ensure safety, liquidity and yield. These monies
represent pooled cash received from various funding sources such as sewer, RDA, TDIF, PAD,
General Fund, etc. There is no further activity to report on other than routine investments in money
market mutual funds by the City's fiscal agents.
Conclusion
The total cash and investment portfolio held by the City as of March 31, 2012 was
$191,771,580. This is an increase of approximately $10.9M from December 31, 2011 to March
31, 2012. For the quarter ended March 31, 2012, the earned interest yield was 0.979%, a
decrease from the 1.121% reported for the quarter ended December 31, 2011, reflecting higher
yielding investments being redeemed and then reinvested at lower interest rates.
The weighted average maturity as of March 31, 2012 decreased from the previous quarter's
2.63 years to 2.45 years which is within the Council Policy of less than 3.0 years. The weighted
average maturity remains sufficiently liquid to enable the City to meet all operating requirements
that might be reasonably anticipated.
Considering the projected timing of cash receipts and disbursements and the structure of the
Pooled Investment Portfolio, the City should be able to comfortably meet overall cash flow
needs over the next six months. There is no direct fiscal impact by this action.
I certify that this report reflects the City of Chula Vista and related agencies pooled investments
and is in conformity with the State of California Government Code on authorized investments and
with the Investment Policy of the City of Chula Vista as stated in Resolution No. 2012-034 dated
March 13, 2012.
Respectfully submitted,
Maria Kachadoorian
Director of Finance/Treasurer
4-6
_~~tr,
~~~~
CIiY OF
CHULA VISTA
Chula Vista Investment Pool
Portfolio Management
Portfolio Summary
March 31, 2012
City of Chula Vista
276 Fourth Ave
Chula Vista CA 91910
(619)691-5250
Investments Par
Value Market
Value Book
Value % of
Portfolio
Term Days [o
Maturity YTM
Managed Pool ACCOUn11 26,053,782.46 26,085,336.53 26,053,782.46 14.15 1 1 0.383
Managed Pool Accounl3 20,071,214.67 20,071,214.67 20,071,214.67 10.90 1 1 0.390
Managed Pool Account 2 1,012,599.61 1,012,599.61 1,012,599.61 0.55 1 1 0.400
Federal Agency Coupon Securities 6,000,000.00 6,015,400.00 6,000,000.00 3.26 1,096 762 1.050
Federal Agency Callables 129,000,00000 129,062,520.00 129,000,000.00 70.06 1422 1,239 1.172
Corporate Coupon Bonds 2,000,000.00 2,007,540.00 1,998,700.00 1.09 1,247 68 2.220
184,137,596.74 184,254,610.81 184,136,296.74 100.00% 1,045 894 0.979
Investments
Total Earnings March 31 Month Ending
Current Year 159,500.22
rage Daily Balance 189,652,425.77
Effective Rate of Return 0.99%
Phillip A. Davis, Assistant Director of Finance
Reporting period 0 3/0112 01 2-0 3131/2 01 2
Run Date: 04/25/2012 - 14:07
Fiscal Year To Date
1,564,568.16
180,792,742.11
1.15°
4_zs-~L
Portfolio CHUL
CC
PM (PRF_PM1) SymRept 6 41 202b
Report Ver. 5.00
Chula Vista Investment Pool
Portfolio Management
Portfolio Details -Investments
March 31, 2012
26,053,782.46 26,085,336.53
Average Purchase Stated Days to YTM Maturity
CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate Term Maturity Date
Managed Pool Accountt
SYS10197 10197 Local Agency Investment Fund 26,053,782.46 26,085,336.53 26,053,78246 0.383 1 1 0.383
Subtotal and Average 20,311,046.90
Managed Pool Account3
SYS 10547 10547 San Diego County Inv Pool
Subtotal and Average 20,071,214.67
Managed Pool ACCOUnt2
SYS10507 10507 CalTrusl SHort Term Fund
Subtotal and Average 1,012,599.61
Federal Agency Coupon Sec urities
3133XV6U0 10542 Federal Home Loan Bank
3~34G3LD0 10673 Fetleral Home Loan Mortgage Co.
I
~ Subtotal antl Average 4,000,000.00
_ ___
Federal Agency Callables
3133XXVR5 10564 Federal Home Loan Bank
313373EN8 10618 Federal Home Loan Bank
31331 KL84 10619 Federal Farm Credit Bank
31331 KLP3 10626 Federal Farm Credit Bank
31331KMU1 10629 Federal Farm Credit Bank
31331 KGL7 10638 Federal Farm Credit Bank
3134G1Y65 10611 Federal Home Loan Mortgage Co.
3134G22K7 10661 Federal Home Loan Mortgage Co.
313376AW5 10659 Federal Home Loan Bank
3136FRUZ4 10635 Federal Nafl Mtg. Assoc.
3136FTHC6 10658 Fetleral Naf1 Mtg. Assoc.
3134G3MR8 10675 Federal Home Loan Mortgage Co.
3133783X7 10662 Federal Home Loan Bank
3134G3NL0 10680 Fetleral Home Loan Mortgage Co.
3133784A6 10604 Federal Home Loan Bank
3136FTHL6 10657 Federal Nafl Mtg. ASSOC.
313373VH2 10628 Federal Home Loan Bank
3134G3EB2 10667 Fetleral Home Loan Mortgage Co.
3134G3JY7 10670 Federal Home Loan Mortgage Co.
Run Date'. 0412412012 - 12:27
20,071,214.67 20,071,214.67
20,071,214.67 20,071,214.67
1 012, 599.61 1 012, 599.61
1,012,599.61 1,012,599.61
10/09/2009 2,000,00000 2,016,400.00
02/13/2012 4000,000.00 3999,000.00
6,000,000.00 6,015,400.00
26,053,782.46
20,071,214.67 0.390
20,071,214.67
1,012,59967 0400
1,012,599.61
2,000,000.00 1.750
4,000,000.00 0.700
6,000,000.00
Page 2
1 1 0.383
1 1 0.390
1 1 0.390
_7 1 0 400
1 1 0.400
t 096 191 1.750 10/0912012
1,096 1048 0700 02/13/2015
1,098 782 1.050
04/1612010 3,000000 00 3,002,190. 00 3,000,000. 00 2490 1,461 745 2490 04/16/2014
04/29/2011 3,000000. 00 3,003,180. 00 3,000,000. 00 1.450 1,097 759 1450 04/3012014
05!16/2011 3,000,000. 00 2,999610. 00 3,000,000. 00 1.200 1,096 775 1.200 05/16/2014
06/06/2011 3,000,000. 00 3,003720. 00 3,000,000. 00 1.180 1,096 796 1.180 06/06/2014
06/13/2011 3,000000. 00 3,002,670. 00 3,000000 00 1.050 1,096 603 1.050 06/13/2014
06/2712011 3,000,000. 00 3,002,460. 00 3,000000. 00 1.050 1,096 817 1.050 06/27/2014
01/25/2011 3,000,000. 00 3,012,390. 00 3,000,000. 00 1.500 1,277 845 1.500 07/2512014
11/03/2011 4,000,000. 00 4,002,320. 00 4,000,000. 00 1.000 1,096 946 1.000 11/03/2014
11/04/2011 3,000,000. 00 3,001406 .25 3000,000. 00 0.850 1096 947 0.850 11/04/2014
06/29/2011 3,000,000. 00 3,005,880 .00 3,000,000. 00 1.250 1279 1,002 1.250 12/29/2014
10/2612011 3,000000 00 3,003,060 .00 3,000000 00 1.000 1,188 1,030 1.000 01/26/2015
02/13/2012 3,000,000. 00 2,992,410 .00 3,000,000. 00 0.550 1,096 1,048 0.550 02/13/2015
02/24/2012 3,000,000. 00 2,991,093 .75 3,000,000. 00 0.550 1,096 1,059 0.550 02/24/2015
02/24/2012 4000,000. 00 3983,520 .00 4,000,000. 00 0.500 1,096 1,059 0.500 02/24/2015
02/27/2012 3,000,000 .00 2,994,600 .00 3,000,000. 00 0.600 1,096 1,062 0.600 02/27/2015
10/28/2011 3,000,000. 00 3,008,100 .00 3000000. 00 1.100 1,279 1,123 1.100 04/29/2015
06/1012011 3,000,000 .00 3,041,760 .00 3,000000 00 7700 1,461 1,165 1.700 06/10/2015
12/3012011 3,000000 00 3,003,240 .00 3,OOg000. 00 1.000 1,278 7,185 1.000 06/30/2015
01/30/2012 3,000,000 .00 2,998,920 .00 3,000,000. 00 0.840 1,277 1,215 0.840 07/30/2015
Ponfolio CHUL
CC
PM (PRF_PM2) BymRepl6 41 202b
Report Ver. 5.00
Chula Vista Investment Pool
Portfolio Management Page 3
Portfolio Details -Investments
March 31, 2012
Average Purchase Staled Days to YTM Maturity
CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate Term Maturity Date
Federal Agency Callables
3133FACY2 10679 Federal Farm Credit Bank 02/10/2012 3 000,000.00 2,972,370 00 3,000,000.00 0.590 1,277 1,226 0.590 08/10/2015
3136FRX73 10647 Federal Nal'I Mtg. Assoc. 09/09/2011 3,000,000.00 2,998,170.00 3,000,000.00 1 000 1,461 1?56 1.000 09/09/2015
31331JH55 10595 Federal Farm Credit Bank 09/21/2010 3,000,000.00 3,019,920.00 3,000 OOODO 1.875 1,826 1,268 1.975 09/21/2015
31331KZL7 10651 Federal Farm Credit Bank 09/2812011 3,000,000.00 2,997,480.00 3,000,000.00 1.020 1,461 1,275 1.020 09/2812015
31331JT45 10601 Federal Farm Credit Bank 10/19/2010 3,000,000.00 3,001,320.00 3,000,000.00 1.500 1,826 1 ?96 1.500 10/19/2015
31331KG61 10655 Federal Farm Credit Bank 10/19/2011 3,000,00000 3,008,400.00 3,000,00000 1290 1461 1,296 1.290 10/19/2015
3134G24U3 10660 Federal Home Loan Mortgage Co. 11/16/2011 3,000,000.00 3 009,000.00 3,000,000.00 1.250 1 461 1,324 1 250 11/16/2015
3134G25H7 10663 Federal Home Loan Mortgage CO. 11/23/2011 3000,000.00 2,999,040.00 3,000,000.00 1.125 1,461 1,331 1.125 11/23/2015
31331 KZ29 10665 Federal Farm Credit Bank 12/07/2011 4 000,000.00 4,011,280.00 4,000,000.00 1.330 1,461 1,345 1.330 12/07/2015
3134G3BZ2 10664 Federal Home Loan Mortgage Co. 12/14/2011 3 000,000.00 3,007,740.00 3,000,000.00 1.250 1,461 1,352 1.250 12/14/2015
3136FTAK5 10653 Fetleral Nal'I Mlg. Assoc. 09/28/2011 3,000,000.00 3,008,010.00 3,000,000.00 1.000 1,552 1,366 1.000 12/28/2015
3136FTXDfi 10666 Federal Nat'I Mtg. ASSOC. 12/28/2011 3,000,000.00 2 995,740.00 3,000,000.00 1.100 7,461 1,366 1.100 12/28/2015
31331K5T3 10669 Federal Farm Cretlit Bank 01/1112012 3,000,000.00 2,999,160.00 3,000,000.00 1.020 1,461 1,380 1.020 01/11/2016
313376U86 10674 Federal Home Loan Bank 02/08/2012 3,000,000.00 2,991,690.00 3,000,000.00 0.960 1,461 1,408 0.960 02/O8I2016
~4G3KK5 10672 Federal Home Loan Mortgage Co. 01/27/2012 3,000,000.00 2,992?00.00 3,000,000.00 1.100 1,643 1,578 1.100 07/27/2016
ijy31 KVD9 10645 Federal Farm Credit Bank 08/22/2011 3,000,00000 3,010,890.00 3000,000.00 1.500 1,827 1,604 1.560 08/22/2016
3136FRX57 10649 Federal Nat'I Mtg. ASSOC. 09/20/2011 3,000,000.00 2 993,550.00 3,000,000.00 1.420 1,827 1 633 1.420 09/20/2016
31331KL24 10656 Federal Farm Cretlit Bank 10/26/2011 3,000,000.00 3,015,570.00 3,000,000.00 1.540 1,827 1,669 1.540 10/26/2016
3134G22G6 10662 Federal Home Loan Mortgage Co. 11/09/2011 3 000,000.00 3,004,620.00 3,000,000.00 1 750 1,827 1,683 1.750 11/0912016
31331 K6Y1 10671 Federal Farm Credit Bank 01/18/2012 3,000,000.00 2,998,080.00 3,000,000.00 1.270 1,827 1,753 1.270 01/18/2017
3136FTK73 10676 Federal Nat'I Mtg. Assoc. 02/22/2012 3,000,000.00 3,004,920.00 3,000,000.00 1.375 1,827 1,788 1.375 02/22/2017
313376400 10683 Federal Home Loan Bank 02/2812012 3,000 000.00 2,986,050.00 3,000,000.00 1.250 1,827 1,794 1.247 02/28/2017
3136FTP52 10661 Federal Nal'I Mtg. Assoc. 02128/2012 3,000,000.00 2,984,790.00 3,000,000.00 1.100 1,827 1,794 1 097 02/28/2017
Subtotal and Average 28,000,000.00 129,000,000.00 129,062,520.00 129,000,000.00 1,422 1,239 1.172
Corporate Coupon Bonds
36967HAH0 10508 General Electric Cap 01/08/2009 2,000,000.00 2,007,540.00 1,998,700.00 2?00 1,247 68 2220 06/08/2012
Subtotal and Average 1,998,700.00 2,000,000.00 2,007,540.00 1,998,700.00 1,247 68 2.220
Total and Average 75,394,361.26 184,137,596.74 184,254,610.81 184,136,296.74 1,045 894 0.979
Run Oale: 04124/2012 - 12:2]
Portfolio CHUL
CC
PM (PRF_PM2) SymRep16.4 L2026
CUSIP investmentq Issuer
Managed Pool Account 1 (Monthly Summary)
SYS10197 10197 Local Agency Investment Fund
Subtotal
Managed Pool Account 3 (Monthly Summary)
Subtotal
Managed Pool Account 2 (Monthly Summary)
Subtotal
Chula Vista Investment Pool
Portfolio Management
Activity By Type
March 1, 2012 through March 31, 2012
Stated Transaction Purchases
Rate Date or Deposits
0.383 8,000,000.00
8,000,000.00
Redemptions
or Withdrawals
9,000,000.00
s,ooo,oso.oo
26,053,782.48
zo,o71,z1as7
1,012,599.61
6,000,000.00
Federal Agency Coupon Securities
Subtotal
Federal Agency Callables
',331 K2K5 10666
7a64G2535 10652
~6FRXN8 10639
3136FTBJ7 10654
Corporate Coupon Bonds
Run Date: 04/2412012 - 1227
Federal Farm Cretlil Bank 0 fi90 03!12/2012 0.00 3,000,000. 00
Federal Home Loan Mongage Co. 1.050 03/29/2012 0.00 3,000,000. 00
Federal Nal'I Mlg. Assoc. 1.250 03/30/2012 0.00 3,000 000. 00
Federal Nat'I Mtg. Assoc. 1.050 03/30/2012 0.00 5,000,000. 00
Subtotal 0.00 14,000,000. 00
Subtotal
Total
129,000,000.00
1,998,700.00
8,000,000.00 23,000,000.00 184,138,298.74
Page 4
Balance
Portfolio CHUL
CC
PM (PRF_PM3) SymRept 6.4L202b
Report Ver. 5.00
Chula Vista Investment Pool
Portfolio Management Page 5
Activity Summary
March 2011 through March 2012
Month
Entl
Year
Number of
Securities
Tofal
Invested - Yield to Maturity
360 365
Equivalent Equivalent Managed
Pool
Rate Number
of Investments
Purchased. Number
of Investments
Redeemetl
Average
Term
Average
Days to Maturity
March 2011 43 166,427,163.31 1.482 1.503 0.500 0 2 1,081 891
April 2011 45 182,475,880.14 1.441 1.461 0.588 4 2 1,016 838
May 2011 48 200,476,890.72 1.335 1.354 0.413 6 3 974 812
June 2011 50 194,476,890.72 1.281 1.299 0.448 14 12 1,006 877
July 2011 48 184,543,125.63 1.274 1.292 0.381 0 2 1,017 865
August 2011 43 173,542,115.05 1.192 1.209 0.408 6 11 942 816
September 2011 44 166,541,104.47 1.191 1.208 0.378 8 7 1,045 930
October 2011 45 166,591,129.67 1.190 1.207 0.385 4 3 1,082 957
November 2011 47 160,591,129.67 1.239 1.257 0.401 5 3 1,189 1,045
December 2011 46 173,595,859.09 1.105 1.121 0.382 5 6 1,088 959
January 2012 47 203,135,286.16 0.990 1.003 0.385 4 - 3 943 819
February 2012 52 199,136,296.74 0.968 0.982 0.389 10 5 1,058 929
Larch 2012 48 184,136,296.74 0.965 0.979 0.383 0 4 1,045 894
r
~
Average 47
181,205,320.62
1.204%
1.221°/
0.419
5
5
1,037
895
Portfolio CHUL
CC
Run Oale: 04I24p012 - 12'.2] PM (PRF_PM4) SymRept 6 4L202b
Reporl Ver. 5.00
Chula Vista Investment Pool
Portfolio Management Page 6
D istribution of Investments By Type
March 2011 through March 2012
March April May June July August September October November December January Fehruary March Average
SBturily Type 2011 2011 2011 2017 2011 2011 2011 2011 2011 2011 2012 2012 2012 by Periotl
Managed Pool Account 1 21.3 24.9 27.2 23.4 22.5 27.4 22.5 17.7 10.3 17.6 23.7 13.6 14.2 20.5
Short Term Pool Accounts
Managed Pool Account 3 3.0 2.8 2.5 2.6 2.7 2.9 3.0 6.0 6.3 5.8 9.9 10.1 10.9 5.3%
Managed Pool Account 2 0.6 0.6 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.5 0.5 0.6 0.6
Federal Agency Coupon Securities 3.0 2.7 1.0 1.0 1.1 1.2 1.2 1.2 1.3 1.2 1.0 3.0 3.3 1.7%
Federal Agency Callables 69.7 66.9 66.8 70.5 71.0 65.7 70.3 72.0 79.1 73.7 64.0 71.8 70.1 70.1
Corporate Coupon Bonds 2.4 2.2 2.0 2.1 2.2 2.3 2.4 2.4 2.5 1.2 1.0 1.0 1.1 1.9°/
N
Portfolio CHUL
CC
Run Oale: 04I24I2012 - 122] PM (PRF_PM5) SymRep16.41 2026
Report Ver. 5.00
Chula Vista Investment Pool
Portfolio Management
Interest Earnings Summary
March 31, 2012
March 37 Month Ending Fiscal Year To Date
Page 7
CD/CouponlDiscount Investments:
Interest Collected 136,275.00 1,395,265.45
Plus Accrued Interest at End of Period 424,930.49 424,930.49
Less Accrued Interest at Beginning of Period ( 415,850.39) ( 402,116.71)
Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00)
Interest Earned during Period 145,355.10 1,418,079.23
Adjusted by Capital Gains or Losses 0.00 5,740.OD
Earnings during Periods 145,355.10 1,423,819.23
Pass Through Securities:
Interest Collected 0.00 0.00
Plus Accrued Interest at End of Period 0.00 0.00
Less Accrued Interest at Beginning of Period ( 0.00) ( 0.00)
~ Less Accrued Interest at Purchase During Period
I ( 0.00) ( 0.00)
W Interest Earned during Period 0.00 0.00
Adjusted by Premiums and Discounts 0.00 0.00
Adjusted by Capital Gains or Losses 0.00 0.00
Earnings during Periods 0.00 0.00
CashlChecking Accounts:
Interest Collected 0.00 153,398.10
Plus Accrued Interest at End of Period 61,401.26 61,401.26
Less Accrued Inierest at Beginning of Period ( 47,256.14) ( 74,050.43)
Interest Earned during Period 14,145.12 140,748.93
Total Interest Earned during Period 759,500.22 1,558,828.16
Total Capital Gains or Losses 0.00 5,740.00
Total Earnings during Period
Run Dale. 04/24/2012 - 12'.27
159,500.22 1,564,568.16
Portfolio CHUL
CC
PM (PRF_PM6) SymRept 641 202b
Report Vet. 5.00
~~~r,
a.~.-- ~~ City of Chula Vista
Chula Vista Investment Pool 276 Fourth Ave
~'~++ Received Interest C hula Vista CA 91910
(619)691-5250
CITY OF Sorted by Date Received -Grouped by Fund
CHUTAVI$TA Received March 1, 2012 -March 31, 2012
Interest
Security Par Current
Date Received CUSIP. Investme nt # Type Value Rate Date Due Date Received Amoun[ Due Amount Received Variance
Fund: Chula Vista Investment Pool
March 2012 3136FRX73 10647 MC1 3,000000.00 1.000 03/09/2012 03/09/2012 15,000.00 15,000.00 -
31331K2K5 10666 MC1 0.00 0.690 03/12/2012 03/12/2012 5,175.00 5,175.00 -
3136FRX57 10649 MC1 3,000,000.00 1420 03/20/2012 03/20/2012 21,300.00 21,300.00 -
31331JH55 10595 MC1 3,000,000.00 1.875 03/21/2012 03/21/2012 28,12500 28,725.00 -
31331KZL7 10651 MC1 3,000,000.00 1.020 03/28/2012 03/28/2012 15,30000 15,300.00
313462535 10fi52 MC1 000 1.050 03/29/2012 03/29/2012 15,750.00 15,750.00 -
3136FRXN8 10639 MC1 0.00 1.250 03/30/2012 03/30/2012 9,375.00 9,375.00
3136FTBJ7 10654 MCt 0.00 1.050 03/30/2012 03/30/2012 26,250.00 26,250.00
Subtotal 175,275.00 176,275.00
Chula Vista Investment Pool Subtotal 136,275.00 130,275.00
t Total 136,275.00 136,275.00
r
Total Cash Overpayment
0.00
~
Total Cash Shortfall 0.00
Run Date: 04I24I2012 - 12.28
Portfolio CHUL
CC
RI (PRF_RI) SymRept 6 41?026
Report Ver. 5.00
~~tr,
/~r1 Chula Vista Investment Pool
CITY OF Accrued Interest
CHUTA VISTA Sorted by Issuer -Investment Number
March 1, 2012 -March 31, 2012
CUSIP
Investmen[#
Security
Type
Par
Value
Maturity
Date
Current
Rate
'Beginning
Accrued interest Adjusted Acc'd Int.
at Purchase
During Periotl
Interest
Earned
Interest
Receivetl
Federal Farm Credit Bank
31331JH55 10595 MC7 3,000,000.00 09/21/2015 1.875 25,000.00 0.00 4687.50 28,125.00
31331JT45 10601 MCi 3,000000.00 10/19/2015 1.500 16,500.00 0.00 3,750.00 0.00
31331 KL64 10619 MCi 3000000.00 05/16/2014 1.200 10,500.00 0.00 3,000.00 000
37331 KLP3 10626 MCi 3,000,000.00 06/06/2014 1.180 8,358.33 0.00 2,950.00 0.00
31331KMU1 10629 MCi 3000,00000 06/13/2014 1.050 6,825.00 0.00 2,625.00 0.00
31331KOL7 10638 MC1 3,000,000.00 06/27/2014 1.050 5,600.00 0.00 2,625.00 0.00
31331 KVD9 10645 MCi 3,000,000.00 08/22/2016 1.500 1,125.00 0.00 3,750.00 0.00
31331 KZL7 10651 MC1 3,000,000.00 09/28/2015 1.020 13,005.00 0.00 2,550.00 15,300.00
31331KG61 10655 MC1 3,000,000.00 10/19/2015 1.290 14,190.00 0.00 3,225.00 0.00
31331KL24 10656 MCi 3,000,000.00 10/26/2016 1.540 16,041.67 0.00 3,85000 0.00
3t331KZ29 10665 MCi 4,000,000.00 12/07/2015 1.330 12,413.33 0.00 4,433.34 0.00
31331 K2K5 10666 MCi 0.00 06/12/2014 0.690 4,542.50 0.00 632.50 5,175.00
~j331 K5T3 10669 MCi 3000,00000 01/11/2016 1.020 4,25000 0.00 2,550.00 0.00
X1331 K6Y1 10671 MCi 3,000,000.00 01/18/2017 1.270 4,550.83 0.00 3,17500 0.00
~33EACV2 10679 MCi 3,000,000.00 08/10/2015 0.590 1,032.50 0.00 1475.00 0.00
Subtotal 43,000,000.00 143,934.16 0.00 45,278.34 48,600.00
Federal Home Loan Bank
3133XV6U0 10542
3133XXVR5 10564
313373EN8 10618
373373VH2 70628
313376AW5 10659
313376U8fi 10674
3133783X7 10662
313378400 10683
3133784A6 10684
Federal Home Loan Mortgage Co.
3134G1Y65 10617
313462535 10652
3734G24U3 10660
3134G22K7 10661
313462266 10662
City of Chula Vista
276 Fourth Ave
Chula Vista CA 91910
(619)691-5250
"Ending
Accrued Interest
1,562.50
20,250.00
13,500.00
11,308.33
9,450.00
8,225.00
4,875.00
255.00
17,415.00
19,891.67
16,846.67
0.00
6,800.00
7,725.83
2.507.50
140,612.50
FAC 2,000,000.00 10/09/2012 1750 13,805.56 000 2,916.66 0.00 1672222
MCi 3,000,000.00 04/16/2014 2490 28,012.50 0.00 6,225.00 0.00 34,237.50
MCi 3,000,000.00 04/30/2014 1450 14,620.83 0.00 3,625.00 0.00 18,245.83
MC7 3,000,000.00 06/10/2015 1.700 11,475.00 0.00 4,250.00 0.00 15,725.00
MC7 3,000,00000 11/04/2014 0.850 8,287.50 0.00 2,12500 0.00 10,412.50
MC1 3,000,000.00 02/08/2016 0.960 1,840.00 0.00 2400.00 0.00 4,240.00
MCi 3,000,000.00 02/24/2015 0.550 320.83 0.00 1,375.00 0.00 1,695.83
MCi 3,000,000.00 02/28/2017 1.250 312.50 000 3,125.00 0.00 3,437.50
MC1 3,000,000.00 02127!2015 0600 200.00 0.00 1,500.00 0.00 1,700.00
Subtotal 26,000,000.00 78,874.72 0.00 27,547.66 0.00 106,476.38
MC7 3,000,000.00 07/25/2014 1.500 4,500.00 0.00 3,750.00 0.00 8,250.00
MCi 000 09/29/2015 1.050 13,300.00 0.00 2,45000 15,750.00 0.00
MC1 3,000,000.00 11/16/2015 1250 10,937.50 0.00 3,125.00 0.00 14,062.50
MCi 4,000,000.00 11/03/2014 1000 13,111.11 0.00 3,333.33 0.00 16,44444
MCi 3,000,000.00 11/09/2016 1.750 76,333.33 0.00 4,375.00 0.00 20,708.33
"Beginning Accrued may not include investments that redemed in the previous month that had outstanding accrued interest. Ending Accrued includes outstanding purchase interest.
Run Date: 04I24p012 - 12.30
Portfolio CHUL
CC
AI (PRF_AO BymRepl6 4t202b
Repotl Ver. 5.00
Chuta Vista Investment Pool
Accrued Interest
Sorted by Issuer -Investment Number Page 2
Adjusted Acc'd Int.
Security Par Maturity Current 'Beginning at Purchase Interest Interest ' Entling
CUSIP Investment# Type Value Date Rate Accruetl Interest During Period Earnetl Received Accrued Interest
Federal Home Loan Mortgage Co.
3134G25H1 10663 MCi 3,000000.00 11/23/2015 1.125 9,187.50 0.00 2,812.50 0.00 12,000.00
3134G3BZ2 10664 MCt 3000000.00 12/14/2015 1.250 8,020.83 0.00 3,125.00 0.00 11,145.83
3134G3EB2 10667 MCi 3000,000.00 06/30/2015 1.000 5,083.33 0.00 2,500.00 0.00 7,583.33
3134G3JY7 10fi70 MCi 3,00D,000.00 07/30/2015 0.840 2,170.00 0.00 2,100.00 0.00 4,270.00
3134G3KK5 10672 MC7 3,000,000.00 07/27/2016 1.100 3,11667 0.00 2,75000 0.00 5,866.67
3134G3LD0 10673 FAC 4,000,000.00 02/13/2015 0.700 1,400.00 0.00 2,333.33 0.00 3,733.33
3134G3MR8 10675 MC1 3000,000.00 02/13/2015 0.550 825.00 0.00 1375.00 0.00 2,200.00
3134G3NL0 10680 MCi 4,000,000.00 02/24/2015 0.500 388.89 0.00 1,666.67 0.00 2,055.56
SubtoWi 39,000,000.00 88,374.16 0.00 35,695.83 15,750.00 108,319.99
Federal Nat'I Mtg. Assoc.
3136FRUZ4 10635 MCi 3,000,00000 12/29/2014 1.250 6,458.33 0.00 3,125.00 0.00 9,583.33
3136FRXN8 10639 MCi 0.00 12/3012014 1.250 6,354.17 0.00 3,020.83 9,375.00 0.00
3136FRX73 10647 MCi 3,000,000.00 09/09/2015 1.000 14,333.33 0.00 2,500.00 15,000.00 1,833.33
3136FR%57 10649 MCi 3,000000.00 09/20/2016 1.420 19,051.67 0.00 3,550.00 21,300.00 1,301.67
313fi FTAKS 10653 MCi 3,000,000.00 12/28/2015 1.000 5,250.00 0.00 2,500.00 0.00 7,750.00
~36FTBJ7 10654 MC1 000 09/30/2015 1.050 22020.83 0.00 4,229.17 26,250.00 0.00
31136FTHL6 10657 MCi 3,000,000.00 04/29/2015 1.100 11,183.32 0.00 2,750.00 0.00 13,933.32
.
r{
.~6FTHCfi 10658 MCi 3,000,000.00 01/2fi/20t5 1.000 2,91fi fi7 0.00 2,50000 0.00 5,41667
~
j
3136FTXD6 10668 MCi 3,000,000.00 1212812015 1.100 5,775.00 0.00 2,75000 0.00 8,525.00
3136FTK73 10676 MC7 3,000,000.00 02!22/2017 1.375 1031.25 0.00 3437.50 0.00 4,468.75
3136FTP52 10681 .MCi 3,000,000.00 02/28/2017 1.100 275.00 0.00 2,750.00 0.00 3,025.00
Subtotal 27,000,000.00 94,649.57 0.00 33,112.50 71,925.00 55,837.07
General Electric Cap
36967HAH0 10508 MC2 2000000.00 06/08/2012 2.200 10,017.77 0.00 3,726.77 0.00 13,744.54
Subtotal 2,000,000.00 10,017.77 0.00 3,726.77 0.00 13,744.54
Total 137,000,000.00 415,850.36 0.00 145,355.10 136,275.00 424,930.48
* Beginning Accrued may not include investments that redemed in the previous month that had outstanding accrued interest. Ending Accrued includes outstanding purchase interest
Podfolio CHUL
CC
Run Dale: 04/24/2012 - 12:30 AI (PRF_AI) SymRep16.41 202b
Repon Ver. 5.00
~~t~i
~.,~,- ~~ City of Chula Vista
Chula Vista Investment Pool 276 Fourth Ave
1-~-~.~. Chula Vista CA 91910
Realized Gains and Losses (619)691-5250
CITY OF Sorted By MaturitylSale/Call Date
CHUTAVISTA Sales/Calls/Maturities: March 1, 2012 -March 31, 2012
Investment# Par Value Sale Date Days Held
--- --- - Inv. Purchase - -- -- - ----- Ma[uritylSale Realized Total Total Total
Issuer Type Date Current Rate Maturity Date Term Book Value Proceetls Gain/LOSS Earnings Net Earnings Yieltl 365
10666 MCi 12/12/2011 3,000,000.00 03/12/2012 91 3,000,000.00 3,000,000.00 0.00 5,175.00 5,175.00 0.692
Fetleral Farm Credit Bank 0.690 06/12/2014 913
10652 MC1 09/29/2011 3,000,000.00 03/29/2012 182 3,000,000.00 3,000000.00 0.00 15,750.00 15,750.00 1053
Federal Home Loan Mortgage Co. 1 050 09/29/2015 1,461
10639 MC1 06/30/2011 3,000,000.00 03/30/2012 274 3,000 OOe00 3,000,000.00 0.00 28,125.00 28,125.00 1.249
Federal Nat'I Mtg. Assoc. 1.250 12/30/2014 1,279
10654 MC1 09/30/2011 5,000,000.00 03/30/2012 182 5,000,000.00 5,000,000.00 000 26,250.00 26,250.00 1.053
Federal Nat'I Mlq. Assoc. 1.050 09/30/2015 1 461
Total Realized Gains/Losses
74,000,000.00 74,Og0,000.00
0.00 y 75,300.00 75,300.00 1.010
1
J
Run Dale: 04124/2012- 1230
Portfolio CHUL
CC
CG (PRF_GGR1) BymRep16.41 202b
Repotl Ver. 5.00
Schedule of Cashllnvestments with Fiscal Agent
as of March 31, 2072
Bond Issue Security De
2001-112001-2 RAD
2002 COP Police Facilities
CFD O6-I Improvement Area A
2003 Refunding Cert of Participation
CFD 2001-2 McMillin-Otay Ranch 6
CFD 08-I Otay Ranch Village 6
CFD 07-I McMillin Otay Rnch Vllg 11
CFD 06-I Improvement Area B
2004 COP Civic Center Phase I
2006 COP Civic Center Phase II
CVPFA 2005 Rev Refunding Ser A
CFD 01-1 Improvement Area B
CFD 12-I McMillin Otay Rnch Vllg 7
CFD 13-I Otay Ranch Vllg 7
CFD 07-IB McMillin Otay Rnch Vllg 11
20 t COP Capital Facilities Refunding
O6~y. Tax Alloc Ref Bonds A
O6 Subordinate Taz Alloc Ref Bds
RDA 2008 Tax Alloc Ref Bonds
CDBG Section 108 Loan
Orange Tree MHP
Grand Total as of March 31, 2012
Trinity Plus Funding Co Invst Agrmt
Trinity Plus Funding Co Invst Agrmt
US Treasury
Milestone Treasury Oblig FD Prem Shr
Milestone Treasury Oblig FD Prem Shr
Local Agency Investment Fund
FSA Capital Mgmt Invst Agreement
Milestone Treasury Oblig FD Prem Shr
Milestone Treasury Oblig FD Prem Shr
Milestone Treasury Oblig FD Prem Shr
LAIF
Milestone Treasury Oblig FD Prem Shr
LAIF
Milestone Treasury Oblig FD Prem Shr
Dreyfus Insl'I Res Treasury
FSA Capital Management Services LLC
Dreyfus Inst'I Res Treasury
FSA Investment Agreement
Milestone Treasury Oblig FD Prem Shr
Citigroup GIC #871615.1
Milestone Treasury Oblig FD Prem Shr
Milestone Treasury Oblig FD Prem Shr
Milestone Treasury Oblig FD Prem Shr
LAIF
Milestone Treasury Oblig FD Prem Shr
LAIF
Milestone Treasury Oblig FD Prem Shr
Milestone Treasury PS Fund # M5
Rabobank International NY Branch
Milestone Treasury PS Funtl # M5
CitiGroup Financial Products, Inc. GIC
Milestone Treasury PS Fund # MS
Cash -Interest Bearing Acct
Cash -Interest Bearing Acct
Trust Accf #
Maturity Purchase
Date Date
94430303 Invtmnt Agrmt
94430312 Invtmnt Agrmt
94445202 US Trsy Notes
94445200 Mutual Funds
94477000/3/4/5/9110 Mutual Funds
94477005/9 Mutual Funds
94652201 Invmnt Agrmt
94652200 Mutual Funds
94658900/03/04/05I08I09/10 Mutual Funds
94682100/03/04/05 Mutual Funds
94682105 Mutual Funds
784708000/03/04 Mutual Funds
784708003 Mutual Funds
786104000!3/4/5 Mutual Funds
325544 Mutual Funds
325544 Invmnt Agrmt
145757 Mutual Funds
145757 Invmnt Agrmt
790488000+ Mutual Funds
Reserve Accounts Invmnt Agrmt
792183000-10 Mutual Funds
791949000/4/6/7/8/12 Mutual Funds
'9 3 7 7 40 0 0/0 3/04/0 5/O6/07108/ bMutuol Funds
793774003 Mutual Funds
794322000/01/03/09 Mutual Funds
794322003 Mutual Funds
136267000-136267005 Mutual Funds
103986000/05 Mutual FUnds
103986003 Invmnt Agrmt
103987003/05 Mutual Funds
103987003 Invmnt Agrmt
127926000 to 6011 Mutual Funds
1459703226 Restricted Cash
2324-80156 Restricted Cash
02-Sep-2017 04-Sep-01
02-Sep-2017 04-Sep-01
Oi-Sep-2012 11-Jun-03
01-Mar-2034 16-Sep-04
01-Mar-2 0 36 17 -Mar-2 006
01-Sep-2032
09-Aug-2027 11-Sep-2006
26-Sep-2027 11-Sep-2006
30-Sep-2036 22-Jul-2008
Contractual Book
Mkt Value Value Yield
1, 201, 778 1, 201, 778 1, 201, 778
426,500 426,500 426,500
2,021,563 2,082,100 2,021,563
1,752 1,752 1,752
5,457,440 5,457,440 5,457,440
4,854,535 4,854,535 4,854,535
1,132, 000 1,132, 000 1,132, 000
14,798 14,798 14,798
1,492,912 1,492,912 1,492,912
2,632,412 2,632,412 2,632,412
1,597,868 1,597,868 1,597,868
1,013,153 1,013,153 1,013,153
2,344,182 2,344,182 2,344,182
1, 760,131 1, 760,131 1, 760,131
63,046 63,046 63,046
2, 395, 911 2, 395, 911 2, 395, 911
31,521 31,521 31,521
1,272,459 1,272,459 1,272,459
14,092,665 14,092,665 14,092,665
6,436,873 6,436,873 6,436,873
5,392,653 5,392,653 5,392,653
2,305,396 2,305,396 2,305,396
4,122,334 4,122,334 4,122,334
1,149, 280 1,149, 2 S O 1,149, 280
1,360,273 1,360,273 1,360,273
213,043 213,043 213,043
3,141,426 3,141,426 3,141,426
1, 027, 945 1, 027, 945 1, 027, 945
235,517 235,517 235,517
1,004,365 1,004,365 1,004,365
3,623,286 3,623,286 3,623,286
3,571,602 3,571,602 3,571,602
640,327 640,327 640,327
83,100,733 83,161,271 83,100,733
j fnance\dalaVnvest\Inv72.xls
City of Chula Vista
CashlTime Deposits
31-Mar-12
CASH IN BANK
Bank of America -General Account 6,942,577
Bank of America -Payroll Account 428
California Bank -Direct Deposit Account 3,553
Wells Fargo Bank-CV Workers Comp Account 371,375
7,317,933
CASH ON HAND
Petty Cash Fund 6,050
6,050
TIME DEPOSIT
Bank of America Time Deposit 310,000
310,000
Cash/Time Deposits as of 03/31/2012 7,633,983
j:finance\data\Cash and Time Deposits FY1112 MARCH 2012.x1s As of 04/30/12
4-19