HomeMy WebLinkAbout2012/10/02 Item 07CITY COUNCIL
AGENDA STATEMENT
~~~ CITY OF
CHUTA VISTA
OCTOBER 2, 2012, Itern~_
ITEM TITLE: INVESTMENT REPORT FOR THE QUARTER ENDED JUNE
30, 2012
SUBMITTED BY: DIRECTOR OF FINA C /TREASURER ~~~Ml~
REVIEWED BY: CITY MANAGER
ASSISTANT CITY ANAGER
4/STHS VOTE: YES ~ NO
SUMMARY
Transmitted herewith is the City's investment report for the quarter ended June 30, 2012. To
meet the reporting requirements set forth in the Califomia 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 in July.
ENVIRONMENTAL REVIEW
The Enviromnental 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 June 30, 2012 was $215,031,600. This is an
increase of approximately $23.3M from March 31, 2012 to June 30, 2012, primazily due to the
receipt of property taxes from the County. For the quarter ended June 30, 2012, the earned
interest yield was 0.784%, a decrease from the 0. 979% reported for the quarter ended March 31,
2012, reflecting reinvestment in lower yielding investments. The weighted average maturity as
of June 30, 2012 was 1.93 years, a decrease from the 2.45 years in the prior quarter. The
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OCTOBER 2, 2012, Item 7
Page 2 of 2
weighted average 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 seg.).
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 June 30, 2012
Prepared by: 6. Adacht, Associate Accountant, Finance Dept.
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CITY OF
CHULAVISTA
Finance Departm
Investment Report for the Quarter Ended June 30, 2012
September 18, 2012
Honorable Mayor and City Council,
I am pleased to present this report of investment activity for the quarter ended June 30, 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 June 30, 2012 as
well as provides a comparison to the quarters ended March 31, 2012 and June 30, 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 0.33% at the beginning of the quarter ended the same at 0.33% at the end of the
quarter.
The overall consumer price index (CPI) rose 1.7% on ayear-over-year basis, and the core CPI
(excluding food and energy) showed a 2.2% increase year-over-year indicating that inflation
remains under control.
Portfolio Composition
The table below provides a summary of the City's total investment portfolio as of June 30, 2012.
The Investment Portfolio ($202,985,727), Cash/Time Deposits ($12,045,873) and Bank
Trustee/Fiduciary Funds ($92,663,215) continue to be invested in accordance with the
Government Code, bond covenants and the Council Investment Policy as adopted on March 13,
2012.
7-3
Honorable Mayor and City Council
Investment Report Quarter ended 06/30/2012
Page 2 of 4
Summary of Cash and Investments as of June 30, 2012
Investment Type Par Value Market Value Book Value Portfolio
Investment Portfolio
Federal Securities 113,000,000 113,267,165 113,000,000 36.72%
Pooled Investments 89,985,727 90,046,570 89,985,727 29.25%
Corporate Bonds 0 0 0 0.00%
Subtotal 202,985,727 203,313,735 202,985,727 65.97%
Cash/Time Deposits $12,045,873 $12,045,873 $12,045,873 3.91%
Total Cash & Investments Held by the City $215,031,600 $215,359,608 $215,031,600 69.88%
Held by Bank Trustee/Fiduciary Funds (1)
U. S. Government 2,021,563 2,066,960' 2,021,563 0.66°
I nvestment Agreements' 14,749,265 14,749,265 14,749,265 4.79%
Mutual Funds' 71,876,653 71,678,653 71,878,653 23.36%
Cash with Fiscal Agents 0 0 0 0.00%
Restricted Cash 4,013,735 4,013,735- 4,013,735 1.30%
Total Held by Bank TrusteelFiduciary Funds $92,663,215 $92,708,613 $92,663,215 30.12%
Total Portfolio $307,694,815 $308,068,221 $307,694,815 100.00%
(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 June 30, 2012
US Government
Agency
56%
0.5%
LAIF (State
Pool)
25%
7-4
Honorable Mayor and City Council
Investment Report Quarter ended 06/30/2012
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
June 30, 2012 March 31, 2012 June 30, 2011
Quarter-End
Net Interest Earnings $ 413,894 $ 492,792 $ 656,464
Net Gains (Losses) from Sales $ 1,300 $ 1,875
Net TotallncomeRecoanized $ 415,194 $ 492,792 $ 658,339
Fiscal Year-to-Date
Net Interest Earnings $ 1,969,009 $ 1,555,115 $ 2,587,228
Net Gains (Losses) from Sales $ 7,040 $ 5,740 $ 6,575
Net TotallncomeRecognized $ 1,976,049 $ 1,560,855 $ 2,593,803
This table shows the City's average yield to maturity as of June
30, 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
enc Yield
Chula Vista 0.78%
County of San Diego 0.39%
Carlsbad 1.36%
EI Cajon 0.75%
Oceanside 1.05%
San Die o 0.63%
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 June 2010 through June
2012.
2.0 %
•-
ts
l.0%
~~
O.5 % ~ -
O.O%
Jun-t0
..y o
sep-to oeo-to ar- ten- ae~att ~ ~ Mer-,~
-~-LAIF ~-2y. Treasury -~-3y~Treasury
Jun-12
7-5
Honorable Mayor and City Council
Investment Report Quarter ended 06/30/2012
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 706 days.
Investment Activity
Bench"marks ~;~'`,., Yield ,:`ADM
City 0.78% 706
LAIF 0.36% 268
2 Year Treasury 0.33% 730
3YearTreasu 0.41% 1,095
ADM = Avera a Da s to Maturit
During the quarter, fourteen investments totaling $43,000,000 were redeemed by the issuers prior
to their maturity dates, one investment totaling $2,000,000 matured, and six (one in May, five in
June) Federal Agency Securities totaling $21,000,000 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, 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 June 30, 2012 was $215,031,600.
This is an increase of approximately $23.3M from March 31, 2012 to June 30, 2012. For the
quarter ended June 30, 2012, the earned interest yield was 0.784%, a decrease from the
0.979% reported for the quarter ended March 31, 2012, reflecting higher yielding investments
being redeemed and then reinvested at lower interest rates.
The weighted average maturity as of June 30, 2012 decreased from the previous quarter's 2.45
years to 1.93 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,
/r~~o~
Maria Kachadoorian
Director of Finance/Treasurer
7-6
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CIiY OF
CHUTA VISTA
Investments Par
Value
City of Chula Vista
Chula Vista Investment Pool 276 Fourth Ave
Portfolio Management Chula Vista CA 91910
(fi19)691-5250
Portfolio Summary
June 30, 2012
Marke[ Book % of Days to YTM
Value Value Portfolio Term Maturity
Managetl Pool Account 1 49,885,762. 67 49,946,605.49 49,885,762.67 24.58 1 1 0.358
- Managed POOl ACCOUnl3 39,087,364. 57 39,087,364.57 39,087,364.57 19.26 1 1 0.390
Managed Pool Account 2 1,012,599. 61 1,012,599.61 1,012,599.61 0.50 1 1 0.440
Federal Agency Coupon Securities 6,000,000. 00 6,015,260.00 6,000,000.00 2.96 i 096 671 1.050
Federal Agency Callables 107,000,000. 00 107,251,905.00 107,000,000.00 52.71 1,497 1,302 1.115
202,985,726. 85 203,313,734.67 202,985,726.85 100.00% 822 706 0.784
Investments
Total Earnings June 30 Month Ending Fiscal Year To Date
Current Year 134,996.09 1,976,049.13
Average Daify Balance 193,352,090.18 182,929,940.42
CVfective Rate of Return 0.85% 1.08%
J ~-3d-lL
t ^~ ~0~~~
Phillip A. Davis, Assistant Director of Finance
Reporting period 0 610112 01 2-0 613 01201 2
Run Oa1e: 0]/30/2012 -10:29
Fiscal Year Ending
1,976,049.13
Portfolio CHUL
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Report Ver. 5.00
Chula Vista Investment Pool
Portfolio Management page2
Portfolio Details -Investments
June 30, 2012
Avemge Purchase Stated Days to YTM Maturity
CUSIP Investmen[# Issuer Balance Date Par Value Market Value Book Value Ra[e Term Maturity Date
Managed Pool Account/
SYS10197 10197 Local Agency Investment Fund 49,885,762.67 49,946,605.49 49,885,762.67 0.358 1 _1 0.358
Subtotal and Average 49,885,762.67 49,885,762.67 49,946,605.49 49,885,762.67 7 1 0.358
Managed Pool Account 3
SYS10547 10547 San Diego County Inv Pool 39,087,364.57 39,087,364.57 39,087,364.57 0.390 1 1 0.390
Subtotal and Average 27,354,031.24 39,087,364.57 39,087,364.57 39,087,364.57 1 1 0.390
Managed Pool Account 2
SYS10507 10507 CalTrust SHort Term Fund 1,012,599.61 1,012,599.61 1,012,599.81 0.440 1 1 0.440
Subtotal antl Average 1,012,599.61 1,012,599.61 1,012,599.61 1,012,599.61 7 1 0.440
Federal Agency Coupon Securities
3133XV6U0 10542 Federal Home Loan Bank 10/09/2009 2,000,000.00 2,008,620.00 2,000,000.00 1.750 1,096 100 1.750 10/09/2012
3~G3LD0 10673 Federal Home Loan Mongage Co. 02/13/2012 4,000,000.00 4,006,640.00 4,000,000.00 0.700 1,096 957 0.700 02/13/2015
~ Subtotal antl Average 6,000,000.00 6,000,000.00 6,015,260.00 6,000,000.00 1,096 671 1.050
Federal Agency Callables
313379JC4 10686 Federal Home Loan Bank Ofi/05/2012 3,000,000.00 3,000,060.00 3,000,000.00 0.500 730 704 0.500 06/05/2014
3134G1Y65 10611 Federal Home Loan Mortgage Co. 01/25!2011 3,000,000.00 3,002,550.00 3,000,000.00 1.500 1,277 754 1.500 07/25/2014
3136FTHC6 10658 Federal Nal'I Mtg. Assoc. 10/26/2011 3,000,000.00 3,004,110.00 3,000,000.00 1.000 1,188 939 7.000 01/26/2015
3134G3MR8 10675 Federal Home Loan Mortgage Co. 02/13/2012 3,000,000.00 3,003,210.00 3,000,000.00 0.550 1,096 957 0.550 02/13/2015
3134G3NL0 10680 Federal Home Loan Mongage Co. 02/24/2012 4,000,000.00 3,990,280.00 4,000,000.00 0.500 1,096 968 0.500 02/24/2015
3136FTHL6 10657 Federal Nat'I Mtg. ASSOC. 10/28/2011 3,000,000.00 3,006,450.00 3,000,000.00 1.100 1,279 1,032 1,100 04/29/2015
313373VH2 10628 Federal Home Loan Bank 06/10/2011 3,000,000.00 3,033,450.00 3,000,000.00 1.700 1,461 1,074 1.700 06/10/2015
3134G3E82 10667 Federal Home Loan Mortgage Co. 12/30/2011 3,000,000.00 3,014,910.00 3,000,000.00 1.000 1,278 1,094 1 000 06/30/2015
3134G3JY7 10670 Federal Home Loan Mongage Co. 01130/2012 3,000,000.00 3,006,840.00 3,000,000.00 0.840 1,277 1,124 0.840 07!30/2015
3133FACY2 10679 Federal Farm Credit Bank 02/10/2012 3,000,000.00 2,997,990.00 3,000,000.00 0.590 1,277 1,135 0.560 09/10/2015
3136FRX73 10647 Federal Nat'I Mtg. ASSOC. 09/09/2011 3,000,000.00 3,011,940.00 3,000,000.00 1.000 1,461 1,165 1.000 09/09/2015
31331JH55 10595 Federal Farm Credit Bank 09/21/2010 3,000,000.00 3,009,810.00 3,000,000.00 1.875 1,826 1,177 1.875 09/21/2015
31331KZL7 10651 Federal Farm Credit Bank 09/28/2011 3,000,000.00 3,004,380.00 3,000,000.00 1.020 1,461 1,184 1.020 09/28/2015
31331KG61 10655 Federal Farm Credit Bank 10/19/2011 3,000,000.00 3,007,320.00 3,000,000.00 1.290 1,461 1,205 1.290 10/19/2015
3134G24U3 10660 Federal Home Loan Mortgage Co. 11/16/2011 3,000,000.00 3,007,920.00 3,000,000.00 1.250 1,461 1,233 1.250 11/16/2015
3134G25H1 10663 Federal Home Loan Mongage Co. 11/23/2011 3,000,000.00 3,006,300.00 3,000,000.00 1.125 1,461 1,240 1.125 11/23/2015
31331KZ29 10665 Federal Farm Credil Bank 12/07/2011 4,000,000.00 4,012,960.00 4,000,000.00 1.330 1,461 1,254 1.330 12/07/2015
3134G3BZ2 10664 Federal Home Loan Mortgage Co. 12/14/2011 3,000,000.00 3,009,375.00 3,000,000.00 1.250 1,461 1,261 1.250 12/14/2015
3136FTAK5 10653 Federal Nal'1 Mtg. ASSOC. 09/28/2011 3,000,000.00 3,005,070.00 3,000,000.00 1.000 1,552 1,275 1.000 12/28/2015
Portfolio CHUL
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Run Date: 07/30/2012 - 10-.28 PM (PRF_PM2) 3ymRep16.41.202b
Repotl Ver. 5.00
Chula Vista Investment Pool
Portfolio Management
Portfolio Details -Investments
June 30, 2012
Page 3
Average Purchase Stated Days to YTM Maturity
CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate Term Maturity Date
Federal Agency Callables
3136FTXD6 10668 Federal Nat'I Mlg. Assoc. 12/28/2011 3,000,000.00 3,007,230.00 3,000,000.00 1.100 1,461 1,275 1.100 12/28/2015
31331 KST3 10669 Federal Farm Credil Bank 01/11/2012 3,000,000.00 3,009,150.00 3,000,000.00 1.020 1,461 1,289 1.020 01/11/2016
313376U86 10674 Federal Home Loan Bank 02/08/2012 3,000,000.00 3,000,120.00 3,000,000.00 0.980 1,461 1,317 0.960 02/08/2016
3136GOJR3 10687 Federal Nat'I Mtg. Assoc. 06/04/2012 4,000,000.00 3,990,920.00 4,000,000.00 0.950 1,460 1,433 0.950 06/03/2016
3733FJ1SR0 10688 Fetleral Farm Credit Dank 06/06/2012 4,000,000.00 4,002,640.00 4,000,000.00 0.850 1,461 1,436 0.850 06/06/2076
3134G3KK5 10672 Federal Home Loan Modgage Co. 01/27/2012 3,000,000.00 3,022,470.00 3,000,000.00 1.100 1,643 1,487 1.100 07/27/2016
31331 KVD9 10645 Federal Farm Credit Bank 08/22/2011 3,000 000.00 3,005,400.00 3,000,000.00 1.500 1,827 1,513 7.500 08/22/2016
3136FRX57 70649 Federal Nat'I Mtg. Assoc. 09/20/2011 3,000,000.00 3,035,700.00 3,000,000.00 1.420 1,827 1,542 1.420 09/20/2016
31331 KL24 10656 Federal Farm Credil Bank 10/28/2011 3,000,000.00 3,012,360.00 3,000,000.00 1.540 1,827 1,578 1.540 10/28/2016
31331 KfiYt 10671 Federal Farm Credil Bank 07/18/2012 3,000,000.00 3,012,570.00 3,000,000.00 1.270 1,827 1,662 1.270 01/18/2017
3136FTK73 10676 Federal Nal'I Mtg. Assoc. 02/22/2012 3,000,000.00 3,078,030.00 3,000,000.00 1.375 1,827 1,697 1.375 02/22/2017
3136FTP52 10681 Federal Nal'I Mtg. ASSOC. 02/28/2072 3,000,000.00 2,997,990.00 3,800,000.00 1.100 1,827 1,703 1.097 02/28/2017
3136GOJX0 10685 Federal Nat'I Mtg. ASSOC. 05!30/2012 4,000,000.00 4,005,400.00 4,800,00000 1.250 1,826 1,794 1.250 05/30/2017
3'~gG3XE5 10689 Federal Home Loan Mortgage Co. 06/07/2012 3,000,000.00 2,995,500.00 3,000,000.00 1.150 1,826 1,802 1.150 06/07/2017
31 ~5GDMND 10690 Federal Nat'I Mtg. Assoc. 06/28/2012 3,000,000.00 3,001,500.00 3,000,000.00 7.125 1,826 1,823 1.125 06/28/2017
f0
Subtotal and Average 114,633,333.33 107,000,1100.00 107,251,905.00 107,000,000.00 1,497 1,302 1.115
Corporate Coupon Bonds
Subtotal and Average 466,363.33
Total and Average 193,352,090.18
202,985,726.85 203,313,734.67 202,985,726.65
822 706 0.784
Run Date: 0]I30/2012 -10:28
Portfolio CHUL
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PM (PRF_PM215ymRept 6.47.202b
Chula Vista Investment Pool
Portfolio Management
Activity By Type
June 1, 2012 through June 30, 2012
Page 4
Stated Transaction Purchases Redemptions
CUSIP Investmen[# Issuer Rate Date or Deposits or Withdrawals Balance
Managed Pool Account 1 (Monthly Summary)
Subtotal 49,tltl5,752.57
Managed Pool Account 3 (Monthly Summary)
SYS70547 10547 San Diego County Inv Pool 0.390 19,000,000.00 0.00
Subtotal 19,000,000.00 0.00 39,087,364.57
Managed Pool Account 2 (Monthly Summary)
Subtotal 1,012,599.61
Federal Agency Coupon Securities
Subtotal
s,9oo,DOO.oa
Federal Agency Callables
31a 1KLP3 10626 Federal Fartn Credit Bank 1.180 06/06/2012 0.00 3,000,000.00
3T
8
~iKMU1 10629 Federal Farm Credit Bank 1.050 06/13/2012 0.00 3,000,000.00
r
~
3TSJ7KGL7 10638 Federal Farm Credit Bank 1.050 06/27/2012 0.00 3,000,000.00
3133FJtSRO 10688 Federal Farm Credit Bank 0.850 06/06/2012 4,000,000.00 0.00
313378400 10683 Federal Home Loan Bank 1.250 06/28/2012 0.00 3,000,000.00
3133784A6 10684 Federal Home Loan Bank 0.600 06/27/2012 0.00 3,000,000.00
313379JC4 10686 Federal Home Loan Bank 0.500 06/05/2012 3,000,000.00 0.00
3134G3XE5 10689 Federal Home Loan Mortgage Co. 1.150 06/07/2012 3,000,000.00 0.00
3136FRUZ4 10635 Federal Nat'I Mtg. Assoc. 1.250 06/29/2012 0.00 3,000,000.00
3136GOJR3 10687 Federal Nat'I Mfg. Assoc. 0.950 06/04/2012 4,000,000.00 0.00
3135GOMN0 10690 Federal Nal'I Mtg. Assoc. 7.125 06/28/2012 3,000,000.00 0.00
Subtotal 17,000,000.00 18,000,000.00 107,000,000.00
Corporate Coupon Bonds
36967HAH0 10508 General Electric Cap 2.200 06/08/2012 0.00 1,998,700.00
Subtotal 0.00 1,998,700.00 11.00
Total 36,000,000.00 19,998,700.00 202,985,726.85
Portfolio CHUL
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Run Date: W/3012pi2 -10:28 PM (PRF_PM3) SymRept 6.41.2026
Raport Ver. 5 00
Chula Vista Investment Pool
onth
End
ear
umber of
Securities
otal
Invested Portfolio Management
Activity Summary
June 2011 through June 2012
Yield to Maturity Managetl
360 365 Pool
Equivalent Equivalent Rate
umber
- of Investments
Purchasetl
umber
of Investments
Redeemed
verage
Term Page 5
verage
Days to Maturity
June 2011 50 194,476,890.72 7.281 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 0.962 0.389 70 5 1,058 929
March 2012 48 184,136,296.74 0.965 0.979 0.383 0 4 1,045 894
April 2012 45 187,184,426.85 0.881 0.893 0.367 0 3 958 814
May 2012 41 186,984,426.85 0.840 0.851 0.363 1 5 893 746
Julie 2012 39 202,985,726.85 0.773 0.784 0.358 5 7 822 706
~ Average 46 163,341,831.88 1.068°/ 1.083% 0.387 5 5 1,007 874
Run Gate: 0]130/2012 - 10'.28
Portfolio CHUL
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Report Ver. 5.00
Chula Vista Investment Pool
Portfolio Management page 6
Distribution of Investments By Type
June 2011 through June 2012
June July August September October November December Ja nuary February March April May June Average
Security Type 2077 2077 2011 2011 2017 2011 2011 2012 2072 2012 2012 2012 2012 by Periotl
Managed Pool Account 1 23.4 22.5 27.4 22.5 17.7 10.3 17.6 23.7 13.6 14.2 20.4 26.7 24.6 20.3°
Short Term Pool Accounts
Managed Pool Account 3 2.6 2.7 2.9 3.0 6.0 6.3 5.8 9.9 10.1 10.9 10.7 10.7 19.3 7.6
Managed Pool Accoun[ 2 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.5 0.5 0.6 0.5 0.5 0.5 0.6%
Federal Agency Coupon Securities 1.0 1.1 1.2 1.2 1.2 1.3 1.2 7.0 3.0 3.3 3.2 3.2 3.0 1.9%
Federal Agency Callables 70.5 71.0 65.7 70.3 72.0 79.1 73.7 64.0 71.8 70.1 64.1 57.8 52.7 67.9%
Corporate Coupon Bonds 2.1 2.2 2.3 2.4 2.4 2.5 7.2 1.0 1.0 1.1 1.1 1.1 1.6%
J
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Portfolio CHUL
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Run Oate: 0]I30/2012 - 10'.28 PM (PRF_PMS) SymRepf 6.41.2026
Report Ver. 5.00
Chula Vista Investment Pool
Portfolio Management
Interest Earnings Summary
June 30, 2012
June 30 Month Ending
Piscal Year To Date
Page 7
CD/COUponlDiscount Investments:
Interest Collected 210,800.00 1,880,865.45
Plus Accrued Interest at End of Period 293,275.51 293,275.51
Less Accrued Interest at Beginning of Period ( 391,808.28) ( 402,116.71)
Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00)
Interest Earned during Period 112,267.23 1,772,024.25
Adjusted by Capital Gains or Losses 1,300.00 7,040.00
Earnings during Periods 113,567.23 1,779,064.25
Pass Through Securities:
Interest Collected 0.00
Plus Accrued Interest at End of Period 0.00
v Less Accrued Interest at Beginning of Period ( 0.00)
1 Less Accrued Interest at Purchase During Period
J ( 0.00)
c'`~ Interest Earned during Period 0.00
Adjusted by Premiums and Discounts 0.00
Adjusted by Capital Gains or Losses 0.00
Earnings during Periods 0.00
0.00
0.00
0.00)
0.00)
0.00
0.00
0.00
0.00
Cash/Checking Accounts:
Interest Collected 0.00 201,528.21
Plus Accrued Interest at End of Period 69,507.10 69,507.10
less Accrued Interest at Beginning of Period ( 48,078.24) ( 74,050.43)
Interest Earned during Period 21,428.86 196,984.88
Total Interest Earned during Period 133,696.09 1,969,009.13
Total Capital Gains or Losses 1,300.00 7,040.00
Total Earnings during Period 134,996.09 1,976,049.13
Run Date: 0]1302012 - 10:28
Portfolio CHUL
CC
PM (PRF_PM6) SymRept 6.41.2026
Report Ver. 5 00
~«r,
~- ~~+ City of Chula Vista
Chula Vista Investment Pool 276 Fourth Ave
+`~ Received Interest Chula Vista CA 91910
CIiY OF Sorted by Date Received -Grouped by Fund (619)691-5250
CHUTAVISTA Received June 1, 2012 -June 30, 2012
Security Par Current _ Interest
Date Received CUSIP Investment # Type Value Rate Date Due Date Receivetl Amount Due Amount Received Variance
Fund: Chula Vista Investment Pool
June 2012 31331 KLP3 10626 MCi 0.00 1.180 06/06/2012 06/06/2012 17,700.00 17,700.00 -
31331KZ29 10665 MCi 4,000,000.00 1.330 06/07/2012 06/07!2012 28,600.00 26,600.00 -
36967HAH0 10508 MC2 0.00 2.200 06/08/2012 06108/2012 22,000.00 22,000.00 -
313373VH2 10628 MC1 3,000,000.00 1.700 06/10/2012 06/11/2012 25,500.00 25,500.00 -
31331KMU1 10629 MC1 0.00 1.050 06/13/2012 06/13/2012 15,750.00 15,750.00 -
3134G38Z2 10664 MC1 3,000,000.00 1.250 06/14/2012 06/14/2012 18,750.00 18,750.00 -
31331KOL7 10638 MC1 0.00 1.050 06/27/2012 06/27/2072 15,750.00 15,750.00 - -
3133764A6 10684 MC7 0.00 0.600 06/27/2012 06/27/2012 s,6o6.00 6,000.00 -
3133784D0 10683 MC1 0.00 1.250 06/28/2012 06/28/2012 12,500.00 12,500.00 -
3136FTAK5 10653 MC1 3,000,000.00 1.000 06/28/2012 06/28/2012 15,000.00 15,000.00 -
3136FTXD6 10668 MC1 3,000,000.00 1.100 06/28/2012 06/28/2012 16,500.00 16,500.00 -
~
t 3138FRUZ4 10635 MC1 0.00 1.250 06/29/2012 06/29/2012 18,750.00 10,750.00 -
1 Subtotal 210,800.00 210,800.110
J~
Chula Vista Investment Pool Subtotal 210,800.00 210,800.00
Total 210,800.00 210,800.00 ~
Total Cash Overpayment 0.00
Total Cash Shortfall 0.00
Run Date: O]/30I2012-10:29
Portfolio CHUL
CC
RI (PRF_RO SymRep16.4L2026
Report Ver. 5.00
~~fli~
City of Chula Vista
Chula Vista Investment Pool 276 FoudhAve
~'~^'~' Accrued Interest Chula Vista CA 91970
CIlY OF Sorted by Issuer -Investment Number (679)691-5250
CHULAVISTA June 1, 2012 -June 30, zolz
Adjusted Acc'tl Int.
Security Par Maturity Current 'Beginning at Purchase Interest Interest 'Ending
CUSIP Investment# Type Value Date Ra[e Accrued Interest During Periotl Earned Received Accruetl Interest
Federal Farm Credit Bank
31331JH55 10595 MC7 3,000,000.00 09/21/2015 1.875 10,937.50 0.00 4,687.50 0.00 15,625.00
31331 KLP3 10626 MC7 0.00 06/06/2014 1.180 17,208.33 0.00 497.67 17,700.00 0.00
31337KMU1 10629 MC1 0.00 06/13/2014 7.050 14,700.00 6.66 1,050.00 15,750.00 0.00
31331KDL7 10638 MC1 0.00 06/27/2014 1.050 73,475.00 0.00 2,275.00 15,750.00 0.00
37331 KVD9 10845 MC1 3,000,000.00 08/22/2016 1.500 12,375.00 0.00 3,750.00 0.00 16,125.00
31331 K2.L7 10651 MCt 3,000,000.00 09/28/2015 1.020 5,355.00 0.00 2,550.00 0.00 7,905.00
31331KG61 10655 MC1 3,000,000.00 10/19/2015 1.290 4,515.00 0.00 3,225.00 0.00 7,740.00
31331KL24 10656 MC1 3,000,000.00 10/26/2016 1.540 4,491.67 0.00 3,850.00 0.00 8,341.67
31331KZ29 70665 MC1 4,000,000.00 12/07/2015 1.330 25,713.33 0.00 4,433.34 26,600.00 3,546.67
31331 KST3 10669 MC1 3,000,000.00 01/11/2016 1.020 11,900.00 0.00 2,550.00 0.00 14,450.00
31331 K6Y1 111671 MC1 3,000,000.00 01/18/2017 1.270 14,075.83 0.00 3,175.00 0.00 17,250.83
3133EACY2 10679 MC1 3,000,000.00 08/10/2015 0.590 5,457.50 0.00 1,475.00 0.00 6,932.50
31ikEASRO 10688 MC1 4,000,000.00 06/06/2016 0.850 0.00 0.00 2,361.11 0.00 2,367.11
~
FJ1 Subtotal 32,000,000.00 140,204.16 0.00 35,873.62 75,800.00 700,277.78
Federal Home
Loan Bank -
3133XV6U0 10542 FAC 2,000,000.00 10/09/2012 1.750 5,055.56 0.00 2,916.66 0.00 7,972.22
313373VH2 10628 MC7 3,000,000.00 06/70/2015 1.700 24,225.00 0.00 4,250.00 25,500.00 2,975.00
373376U86 10674 MCt 3,000,000.00 02/08/2016 0.960 9,040.00 0.00 2,400.00 0.00 11,440.00
313378400 10683 MC1 0.00 02/28/2017 1.250 9,687.50 0.00 2,812.50 12,500.00 0.00
3133784A8 10684 MC1 0.00 02/27/2015 0.600 4,706.60 0.00 1,300.00 6,000.00 0.00
313379JC4 10686 MC1 3,000,000.00 06/05!2014 0.500 0.00 0.00 1,083.33 0.00 1,083.33
Subtotal 11,000,000.00 52,708.06 0.00 14,762.49 44,000.00 23,470.55
Federal Home Loan Mortgage Co.
3134G1Y65 10611 MCt 3,000,000.00 07/25/2014 1.500 75,750.00 0.00 3,750.00 0.00 19,500.00
3134G24U3 10660 MC1 3,000,000.00 17/16/2015 1.250 1,562.50 0.00 3,125.00 0,00 4,687.50
3134G25N1 10663 MC1 3,000,000.00 11/23/2015 1.125 750.00 0.00 2,812.50 0.00 3,562.50
3134G3BZ2 10664 MC1 3,000,000.00 12/14/2015 1.250 17,395.63 0.00 3,125.00 18,750.00 1,770.83
3134G3E62 10667 MC1 3,000,000.00 06/30/2015 1.000 72,583.33 0.00 2,500.00 0.00 15,083.33
3134G3JY7 10870 MC1 3,000,000.00 07/30/2015 0,840 8,470.00 0.00 2,100.00 0.00 10,570.00
3134G3KK5 10672 MC1 3,000,000.00 07/27/2016 1.100 11,366.67 0.00 2,750.00 0.00 14,116.67
3134G3LD0 10673 FAC 4,000,000.00 02/13/2015 0.700 8,400.00 0.00 2,333.33 0.00 10,733.33
3134G3MR8 10675 MC1 3,000,00000 02/73/2015 0.550 4,950.00 0.00 1,375.00 0.00 8,325.00
3134G3NL0 10680 MC1 4,000,000.00 02/24/2075 0.500 5,388.89 0.00 1,666.67 0.00 7,055.56
* Beginning Accrued may not inclu de investments that redemed in the previo us month that had outstanding accrued interest. E nding Accrued includes outstanding purc hase interest.
Portfolio CHUL
CC
ftun Oate: O7I30/201 2 -10:30 AI (PRF_ AI) fiymRepl 6 41.202b
Report Ver. 5 00
Chula Vista Inves....ent Pool
Accrued Interest
Sorted by Issuer -Investment Number Page 2
Adjusted Acc'tl Int.
Security Par Maturity Current 'Beglnning at Purchase Interest Interest "Ending
CUSIP Investment# Type Value Date Rate Accrued Interest During Periotl Earnetl Received Accruetl Interest
Federal Home Loan Mortgage Co.
3134G3XE5 10689 MC1 3,000,000.00 06/07/2017 1.150 0.00 0.00 2,300.00 0.00 2,300.00
Subtotal 35,000,000.00 86,617.22 0.00 27,837.50 18,750.00 95,704.72
Federal Nat'I Mtg. Assoc. -
3136FRUZ4 10635 MC1 0.00 12/29/2014 1.250 15,833.33 0.00 2,916.67 18,750.00 0.00
3136FRX73 10647 MC1 3,000400.00 09/09/2015 1.000 6,833.33 0.00 2,500.00 0.00 9,333.33
3136FRX57 10649 MCt 3,000,000.00 09/20/2016 1.420 8,401.67 0.00 3,550.00 0.00 11,951.67
3136FTAK5 10653 MC1 3,000,000.00 12/28/2015 1.000 12,750.00 0.00 2,500 OD 15,000.00 250.00
3136FTHL6 10657 MCi 3,000,000.00 04/29/2015 1.100 2,933.32 0.00 2,750.00 0.00 5,683.32
3136FTHC6 10658 MC7 3,000,000.00 01/26/2015 1.000 10,416.67 0.00 2,500.00 0.00 12,916.67
3136FTXD6 10668 MC1 3,000,000.00 12/28/2015 1.100 14,025.00 0.00 2,750.00 16,500.00 275.00
3136FTK73 10676 MC1 3,000,000.00 02/22/2017 1.375 11,343.75 0.00 3,437.50 0.00 14,781.25
3136FTP52 10681 MC1 3,000,000.00 02/28/2017 1.100 8,525.00 0.00 2,750.00 0.00 it?75.00
3136GOJX0 10685 MCi 4,000,000.00 05/30/2017 1.250 138.89 0.00 4,166.67 0.00 4,305.56
3136GOJR3 10687 MC1 4,000,000.00 08/03/2016 0.950 0.00 0.00 2,850.00 0.00 2,850.00
3135GOMN0 10690 MC1 3,000,000.00 06/28/2017 1.125 0.00 0.00 281.25 0.00 281.25
`'I
I Subtotal 35,000,000.00 91,200.96 0.00 32,952.09 50,250.00 73,905.05
C~jleral Electric Cap
36967HAH0 10508 MC2 0.00 06/08/2012 2.200 21,077.86 0.00 841.53 22,000.00 -80.59
Subtotal 0.00 21,077.88 0.00 841.53 22,000.00 -80.59
Total 113,000,000.00 391,808.28 0.00 i 112,267.23 210,800.00 293,275.51
"Beginning Accrued may not include investments that redemed in the previous month that had outstanding accrued interest. Ending Accrued includes outstanding purchase interest.
Run Oate: 0]/302012 -10'.30
Portfolio CHUL
CC
AI IPRF AI)SymRept 6.01202b
Report Ver. 500
`~~ ~~ City of Chula Vista
Chula Vista Investment Pool 276 Fourth Ave
~-~^~- Chula Vista CA 91910
~"~' ~ Realized Gains and Losses (619)691-5250
CIIYOF Sorted By MaturitylSalelCall Date
CHULAVISTA SaleslCallslMaturities: June 1, 2012 -June 30, 2012
Investment # Par Value Sale Date Days Held Maturi (Sale
ty Realized Total Total Total
---.- Inv.
Issuer Type Purchase
Date _____.-.__ .........
Current Ra[e Maturity Date __. _._
Term Book Value Proceetls Gain/Loss Earnings Net Earnings Yield 365
10626 MCi 06/06/2011 3,000,000.00 06/06/2012 366 3,000,000.00 3,000,000.00 0.00 35,400.00 35,400.00 1.177
Fetleral Farm Credit Bank 1.180 06/06/2014 1,096
10508 MC2 01/08/2009 2,OOO,OOO.D0 06/08/2012 1,247 1,998,700.00 2,000,000.00 1,300.00 150,252.75 151,552.75 2 ?19
General Electric Cap 2.200 06/08/2012 1,247
10629 MCi 06/13/2011 3,000,000.00 06/13/2012 366 3,000,000.00 3,OOO,OOD.00 0.00 31,500.00 31,500.00 1.047
Federal Farm Credit Bank 1.050 06/13/2014 1,096
10638 MCi 06/27/2017 3,OOO,OOD.D0 06/27/2012 366 3,000,000.00 3,OOO,OD0.00 0.00 31,500.00 31,SOO.D0 1.047
Federal Farm Credit Bank 1.050 06/27/2014 1,096
10684 MC1 02/27/2012 3,000,000.00 Ofi/27l2012 721 3,000,000.00 3,000,000.00 0.00 6,000.00 8,000.00 0.603
Federal Home Loan Bank 0.600 02/27/2015 1,096
10683 MCi 02/28/2012 3,000,000.00 06/28/2012 121 3,DOO,OD0.00 3,000,000.00 0.00 12,500.00 12,500.00 1.257
Federal Home Loan Bank 1.250 02/28/2017 1,827
10635 MC1 06/29/2011 3,D00,000.00 06/29/2012 366 3,000,000.00 3,OOO,D00.00 0.00 37,500.00 37,500.00 1.247
Federal Nat'I Mtg. Assoc. 1.250 12/29/2014 1,279
J
J
Run Date: 07130/2012 -10'.30
Total Realized Gains/LOSSes 19,998,700.00 20,000,000.00 1,300.00 / 304,652.75 305,952.75 1.179
Portfolio CHUL
CC
CG (PRF_CGR1I SymRept 6.41202b
Report Ver. 5.00
Schedule of Cashlh tents with Fiscal Agent
as of June 30, 2012
Bond Issue Security De.
2001-1/2001-2 RAD
2002 COP Police Facilities
CFD 06-I Improvement Area A
2003 Refunding Cert of Participation
CFD 2001-2 McMillin-Olay Ranch 6
CFD 08-I Otay Ranch Village 6
CFD 07-I McMillin Otay Rnch Vlig 11
CFD 06-I Improvement Area B
2004 COP Civic Center Phase I
2006 COP Civic Center Phase 11
CVPFA 2005 Rev Refunding Ser A
CFD 01-1 Improvement Area B
CFD 12-I McMillin Otay Rnch Vllg 7
CFD 13-I Ofay Ranch Vllg 7
CFD 07-IB McMillin Otay Rnch Vllg 11
J
20~COP Capital Facilities Refunding
06~ Tax Alloc Ref Bonds A
06 Subordinate Tax Alloc Ref Bds
RDA 2008 Tax Alloc Ref Bonds
CDBG Section 108 Loan
Orange Tree MHP
Grantl Total as of June 30, 2012
Trinity Plus Funding Co Invst Agrmt 94430303 Invtmnt Agrmt
Trinity Plus Funding Co Invst Agrmt 94430312 Invtmnt Agrmt
US Treasury 94445202 US Trsy Notes
Milestone Treasury Oblig FD Prem Shr 94445200 Mutual Funds
Milestone Treasury Oblig FD Prem Shr 94 4 7 7 0 0 0/3/4/5/9/1 0 Mutual Funds
Local Agency Investment Fund 94477005/9 Mutual Funds
FSA Capital Mgmt Invst Agreement 94652201 Invmnt Agrmt
Milestone Treasury Oblig FD Prem Shr 94652200 Mutual Funds
Milestone Treasury Oblig FD Prem Shr 94658900/03/04/05/08/09/10 Mutual Funds
Milestone Treasury Oblig FD Prem Shr 94682100/03/04/05 Mutual Funds
LAIF 94682105 Mutual Funds
Milestone Treasury Oblig FD Prem Shr 784708000103/04 Mutual Funds
LAIF 784708003 Mutual FUnds
Milestone Treasury Oblig FD Prem Shr 7 8 61 04 0 0013/4/5 Mutual Funds
Dreyfus Insfl Res Treasury 325544 Mutual Funds
FSA Capital Management Services LLC 325544 Invmnt Agrmt
Dreyfus Inst'I Res Treasury 145757 Mutual Funds
FSA Investment Agreement 145757 Invmnt Agrmt
Milestone Treasury Oblig FD Prem Shr 790488000+ Mutual Funds
Citigroup GIC #871615.1 Reserve Accounts Invmnt Agrmt
Milestone Treasury Oblig FD Prem Shr 792183000-10 Mutual Funds
Milestone Treasury Oblig FD Prem Shr 791949000/4/6/7/8/12 Mutual Funds
Milestone Treasury Oblig FD Prem Shr '93774000I03/04/05/06/07/OB/1 ~ Mutual Funds
LAIF 793774003 Mutual FUnds
Milestone Treasury Oblig FD Prem Shr 794322000/01/03109 Mutual Funds
LAIF 794322003 Mutual Funds
Milestone Treasury Oblig FD Prem Shr 136267000-136267005 Mutual Funds
Milestone Treasury PS Fund # M5 103986000/05 Mutual Funds
Rabobank International NY Branch 103986003 Invmnt Agrmt
Milestone Treasury PS Fund # M5 103987003/05 Mutual Funds
CitiGroup Financial Products, Inc. GIC 103987003 Invmnt Agrmt
Milestone Treasury PS Fund # M5 127926000 to 6011 Mutual Funds
Cash -Interest Bearing Acct 1459703226 Restricted Cash
Cash -Interest Bearing Accl 2324-80156 Restricted Cash
Trust Acct #
Maturity Purchase
Date Date
02-Sep-2017 04-Sep-01
02-Sep-2017 04-Sep-01
O1-Sep-2012 11-Jun-03
01-Mar-2034 16-Sep-04
01-Mar-2036 17-Mar-2006
01-Sep-2032
09-Aug-2027 11-Sep-2006
26-Sep-2027 11-Sep-2006
30-Sep-2036 22-Jul-2008
1,201,778
426,500
2,021,563
1,752
6,757,269
4,859,098
983,435
163,363
1,845,228
3,382,224
1,599,370
1,849,439
2,346,386
2,048,276
63,046
2,395,911
31,521
1,272,459
17,265,790
6,436,873
5,783,120
3,018,687
4,550,007
1,150,360
1,818,933
213,243
3,141,465
1,027,945
484
1,004,365
3,623,332
3.369,578
644,158
92,663,215
Contractual
1,201,778
426,500
2,066,960
1,752
6,757,269
4,859,098
983,435
163,363
1,845,228
3,382,224
1,599,370
1,849,439
2,346,386
2,048,276
63,046
2,395,911
31,521
1,272,459
17,265,790
6,436,873
5,783,120
3,018,687
4,550,007
1,150,360
1,818,933
213,243
3,141,465
1,027,945
484
1,004,365
3,23,332
3,369,578
644,158
92,708,613
ik
value Vield
1,201,778
426,500
2,021,563
1,752
6,757,269
4,859,098
983,435
163,363
1,845,228
3,382,224
1,599,370
1,849,439
2,346,386
2,048,276
63,046
2,395,911
31,521
1,272,459
17,265,790
6,436,873
5.783,120
3,018,687
4,550,007
1,150,360
1,818,933
213,243
3,141,486
1,027,945
484
1,004,365
3,623,332
3,369,578
644,158
92,663,215
5.600
s.soo
5.835
Var
Var
Var
3.100
Var
Var
Var
Var
Var
Var
5.205
Var
5.010
Var
4.889
Var
Var
Var
Var
Var
Var
4.980
Var
5.097
Var
Var
Var
I finance\datatinvesl\Invi2 xls
City of Chula Vista
Cash(Time Deposits
30Jun-12
CASH IN BANK
Bank of America -General Account
Bank of America -Payroll Account
California Bank -Direct Deposit Account
Wells Fargo Bank-CV Workers Comp Account
CASH ON HAND
Petty Cash Fund
TIME DEPOSIT
Bank of America Time Deposit
Cash/Time Deposits as of 06/30/2012
j:finance\data\Cash and Time Deposits FY1112 JUNE 2012.DRAFT 073012.x1s
11,187,059
4, 569
5,255
532,941
11, 729, 823
6,050
6,050
310,000
310,000
12,045,873
As of 09/06/2012
7-19