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Home My WebLink About2010/05/25 Item 3 CITY COUNCIL AGENDA STATEMENT , ~\~ (llY OF . ~ - (HUlA VISTA MAY 25, 2010, 1tem~ ITEM TITLE: INVESTMENT REPORT FOR THE QUARTER ENDED MARCH 31, 2010 DIRECTOR OF FlfEfTREASURERc/llc.. CITY MANAGER ASSISTANT CITY ANAGER 77 " SUBMITTED BY: REVIEWED BY: 4/5THS VOTE: YES D NO 'X I SUMMARY Transmitted herewith is the City's investment report for the quarter ended Mareh 31, 2010. To meet the reporting requirements set forth in the California Government Code Seetions 53600 el seq. and the City of Chula Vista Investment Poliey, a separate report was distributed to the City Council as an informational item. ENVIRONMENTAL REVIEW The Environmental Review Coordinator has reviewed the proposed aetivity for eomplianee with the California Environmental Quality Aet (CEQA) and has determined that the activity is not a "Projeet" as defined under Seetion 15378 (b)(4) of the State CEQA Guidelines; therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines the aetivity is not subject to CEQA. Thus, no environmental review is neeessary. RECOMMENDATION Couneil aeeept the report. BOARDS/COMMISSION RECOMMENDATION Not applieable. DISCUSSION The total eash and investment portfolio as of March 31, 2010 was $284,667,948. This is an increase of approximately $18,428,763 from December 31, 2009 to Mareh 31, 2010. For the quarter ended March 31, 2010, the earned interest yield was 1.647%, a decrease from the 1.903% reported for the quarter ended Deeember 31, 2009, reflecting reinvestment in a lower intere"st rate environment and of maturing securities purehased in periods of higher interest rates. The weighted average maturity as of March 31, 2010 was 1.86 years which remained the same as the 3-1 MAY 25, 2010, Item~ Page 2 of2 prior quarter. The weighted average maturity remains sufficiently liquid to enable the City to meet all operating requirements which might be reasonably anticipated. DECISION MAKER CONFLlCT Staff has determined that the action contemplated by this item is ministerial, secretarial, manual, or clerical in nature and, as such, 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 Reforol Act (California Government Code;) 871 00, et seq.). CURRENT 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 FI~CAL IMPACT There is no ongoing fiscal impact by this action. ATTACHMENTS A. Investment Report for the Quarter Ended March 31, 20 I 0 Prepared by: N. Mandel)}, Treasury Manager, Finance Dept. 3-2 ~Ut,.. ~'-~ ~ - -.......,;: ~~-~ ~~-~ CITY OF CHUlA VISTA Finance Department Investment Report for the Quarter Ended March 31, 2010 May 25,2010 Honorable Mayor and City Council, I am pleased to present this report of investment activity for the quarter ended March 31, 2010 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 as well as provides a comparison to the quarters ended December 31,2009 and March 31,2009. Market Overview The Federal Open Market Committee (FOMC) continued to maintain the key Fed Funds rate at a target range of 0.00% to 0.25% in an effort to stimulate the economy. Two-year Treasuries yielding 1.14% at the beginning of the quarter dropped slightly to 1.02% at the end of the quarter as the markets struggle to recover. The overall consumer price index (CPI) rose 2.1 % on a year-over-year basis, and the core CPI (excluding food and energy) showed a 1.3% increase year-aver-year indicating that inflation remains under control. Portfolio Composition The table below provides a summary of the City's total investment portfolio as of March 31, 2010. The Investment Portfolio ($158,140,795) CashfTime Deposits ($8,425,749) and Bank Trustee/Fiduciary Funds ($118,101,404) continue to be invested in accordance with the Government Code, bond covenants and the Council Investment Policy as adopted on March 2, 2010. 3-3 Honorable Mayor and City Council Investment Report Quarter ended 03/31/2010 Page 2 of 5 Summary of Cash and Investments as of March 31, 2010 %of Investment Type Par Value Market Value Book Value Portfolio Investment Portfolio Federal Securities 93,000,000 93,123,777 93,000,175 32.67% Pooled Investments 61,140,795 61,193,048 61,140,795 2148% Corporate Bonds 4,000,000 4,103,900 3,992,960 1.40% Subtotal 158,140,795 158,420,725 158,133,930 54.15% CashlT!me Deposits $8,425,749 58,425,749 $8,425,749 2.96% Total Cash & Investments Held by the City $166,566,544 $166,846,474 $166,559,679 58.51% Held by Bank TrusteelFiduciary Funds (1) U. S. Government 34,745,245 40,451,558 34,744,545 12.21% Investment Agreements 25,151,186 25,151,186 25,151,186 8.84% Mutual Funds 46,119,217 46,119,217 46,119,217 16.20% Cash with Fiscal Agents 6 6 6 0.00% Restricted Cash 12,085,751 12,085,751 12,085,751 4.25% Total Held by Bank TrusteelFiduciary Funds $118,101,404 $123,807,718 $118,100,704 41.49% Total Portfolio $284,667,948 $290,654,192 $284,660,383 100.00% (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, 2010 US Government Agency 58% LAIF (State Pool 35% Corporate Coupon ~/ Bonds ( 3% CalTrust 1% I SO County Pool 3% 3-4 Honorable Mayor and City Council Investment Report Quarter ended 03/31/2010 Page 3 of 5 Portfolio Petformance 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 Total Portfolio March 31, 2010 December 31,2009 March 31, 2009 Quarter-End Net Interest Earnings $ 629,463 $ 780,165 $ 1,361,958 Net Gains (Losses) from Sales $ 24,938 Net Total Income Reco~nized $ 629,463 $ 780,165 $ 1,386.896 Fiscal Year-to-Date Net Interest Earnings $ 2,308,604 $ 1,679,141 $ 4,839,146 Net Gains (Losses) from Sales $ 24,938 Net Total Income Recognized $ 2,308,604 $ 1,679,141 $ 4,864,084 This info comes from the monthly Sympro "Interest Earnings Summary" reports. This table shows the City's average yield to maturity as of March 31,2010 as compared to the County of San Diego and other cities in the county. Carls bad 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. enc Chula Vista County of San Diego Carlsbad EI Cajon Oceanside San Die 0 Yield 153% 0.99% 2.42% 1.75% 2.27% 1.51% Benchmark Comparison 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 2008 through March 2010. Monthly Benchmark Comparison 5.0% 1.0% . 4.5% 40% 35% 3.0% 2.5% .' 2.0% 1.5% 0.5% 0.0% Mar-08 Jun-08 I --+-Clty Sep-08 Dee-DB _________LAIF Mar-09 Jun-09 -.- 2yr Treasury Sep-09 Dee-09 Mar-10 _ 3yr freasury 3-5 Honorable Mayor and City Council Investment Report Quarter ended 03/31/2010 Page 4 of 5 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 680 days. BenCi1marl<wl;~;f2~~ieIClfJ!:t~~DM~ City 1.53% 680 LAIF 0.55% 213 2 Year Treasury 1.02% 730 3 Year Treasu 1.58% 1,095 ADM = Avera e Da s to Maturit Investment Activitv During the quarter, thirteen investments totaling $45,000,000 matured/expired or were redeemed. These monies represent pooled cash received from various funding sources such as sewer, RDA, TDIF, PAD, General Fund, etc. These funds were reinvested through the purchase of fifteen Federal Agency Securities totaling $45,000,000 using the City's Investment Policy guideline to ensure safety, liquidity and yield. 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 as of March 31, 2010 was $166,566,544. This is an increase of approximately $14,293,729 from December 31,2009 to March 31, 2010. For the quarter ended March 31, 2010, the earned interest yield was 1.647%, a decrease from the 1.903% reported for the quarter ended December 31, 2009, reflecting maturing securities purchased in periods of higher interest rates now being reinvested in a lower interest rate environment. The weighted average maturity as of March 31, 2010 remained the same at 1.86 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. 2010-045 dated. March 2, 2010 Respectfully submitted, ~d~ Director of FinancelTreasurer 3-6 Summary of Cash and Investments as of March 31, 2010 w I -.I %of Investment Type Par Value Market Value Book Value Portfolio Investment Portfolio Federal Securities 93,000,000 93,123,777 93,000,175 32.67% Pooled Investments 61,140,795 61,193,048 61,140,795 21.48% Corporate Bonds 4,000,000 4,103,900 3,992,960 1.40% Subtotal 158,140,795 158,420,725 158,133,930 54.15% Cash/Time Deposits $8,425,749 $8,425,749 $8,425,749 2.96% Total Cash & Investments Held by the City $166,566,544 $166,846,474 $166,559,679 58.51% Held by Bank Trustee/Fiduciary Funds (1) U. S. Government 34,745,245 40,451,558 34,744,545 12.21% Investment Agreements 25,151,186 25,151,186 25,151,186 8.84% Mutual Funds 46,119,217 46,119,217 46,119,217 16.20% Cash with Fiscal Agents 6 6 6 0.00% Restricted Cash 12,085,751 12,085,751 12,085,751 4.25% Total Held by Bank Trustee/Fiduciary Funds $118,101,404 $123,807,718 $118,100,704 41.49% Total Portfolio $284,667,948 $290,654,192 $284,660,383 100.00% (1) Reflects bond proceeds held by trustee in accordance with bond covenants. Par value is the principal amount of the investment on maturity. All market values contained herein are received from sources we believe are reliable, however we do not guarantee their accuracy, Book value is the par value of the security plus or minus any premium or discount and accrued interest that was included in the purchase price. ~J1~ ~ CITY OF CHUlA VISTA Investments Managed Pool Account 1 Managed Pool Account 3 Managed Pool Account 2 Federal Agency Coupon Securil es Federal Agency Call abies Corporate Coupon Bonds Pac Value 55,128,883.77 5,000,322.56 1,011,589.03 2,000,000.00 91,000,00000 4,000,000.00 Investments 158,14.0,795.36 Chula Vista Investment Pool Portfolio Management Portfolio Summary March 31, 2010 Market Value 55,181,136.30 5,000,322.56 1,011,589.03 2,011,250.00 91,112527.50 4,103,900.00 Book Value 55,128,883.77 5,000,322.56 1,011,589.03 2000,000.00 91000,175.00 3,992,960.00 158,420,725.39 158,133,930.36 %of Portfolio 34.86 3.16 0.64 1.26 57.55 2.53 100.00% Days to Term Maturity 1 1 1 1 1 1,096 922 1,333 1,130 1,171 708 811 680 City of Chula Vista 276 Fourth Ave Chula Vista CA 91910 (619)691-5250 YTM 0.547 0.990 0.560 1.750 2.315 2.660 1.647 Total Earnings Current Year Av€(OOe Daily Balance Eff'Cl;ive R:te Of,Return . x.~ ; //4-')', t:i~{;17 ItZ"l / Ph.llip A. Davis~ Assistant DireGto~f Finance Reporting period 03/01/2010-03/31/2010 Run Dale: 04/30/2010-14.03 March 31 Month Ending 203,166.20 156,295,220.68 1.53% Fiscal Year To Date 2,308,604.17 155,951,730.15 1.97% 1-3 U-IO Portfolio CHUL CC PM (PRF ]M1) SymRept 6.41 202b ReporlVer. 5.00 Chula Vista Invdstment Pool , Portfolio Management Page 2 Portfolio Details J Investments March 31; 2010 Average Purchase I Stated Days to YTM Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate Term Maturity Date Managed Pool Account 1 I 5Y810197 10197 Local Agency Investment Fund 55,128,883.77 55,181,136.30 55,128,883.77 0.547 0.547 --- Subtotal and Average 65,741,787.00 55, 12~,8B3. 77 55,181,136.30 55,128,883.77 0.547 Managed Pool Account 3 SY810547 10547 San Diego County Inv Pool 12/2812009 5000,322.56 5,000,322.56 5,000,322.56 0.990 0.990 --- Subtotal and Average 5,000,322.56 5,000,322.56 5,000,322.56 5,000,322.56 0.990 Managed Pool Account 2 SYS10507 10507 CalTrust SHort Term Fund 1,011,589.03 1,011,589.03 1,011,589.03 0.560 0.560 --- Subtotal and Average 1,011,589.03 1,011,589.03 1,011,589.03 1,011,589.03 0.560 Federal Agency Coupon Securities 3133XV6UO 10542 Federal Home loan Bank 10/09/2009 2000,000.00 2,011,250.00 2,000,000.00 1.750 1,096 922 1.750 10/09/2012 --- W Subtotal and Average 2,000,000.00 2,000,000.00 2,011,250.00 2,000,000.00 1,096 922 1.750 I FEUteral Agency Call abies 3136F94M2 10511 Federal Nat'l Mtg. Assoc. 01/27/2009 4,00q,000.00 4,018,750.00 4,000,000.00 2.000 1,095 666 2.000 01/27/2012 31331JCA9 10545 Federal Farm Credit Bank 01/19/2010 2,000,000.00 2,001,250.00 2,000,000.00 1.350 821 749 1.350 04/19/2012 , 3128X8X$6 10526 Federal Home loan Mortgage Co. 04/27/2009 3,00~,000.00 3,032,220.00 2,998,12500 2.000 1,096 757 2.022 04/27/2012 31331GWQ8 10534 Federal Farm Credit Bank OS/21/2009 4,009,000.00 4,007,500.00 4,000,000.00 1.800 1,096 781 1.800 OS/21/2012 3128X8l42 10536 Federal Home Loan Mortgage Co. 06/15/2009 3,000,000.00 3,008,760.00 3,000,000.00 2.000 1,096 806 2.000 06!15/2012 3136FJX22 10546 Federal Nat'l Mtg. Assoc. 01/20/2010 3,00d,000.00 2,996,250.00 3,000,00000 1.500 912 841 1.500 07120120' 2 3133XWU98 10552 Federal Home loan Bank 02/22/2010 3,000,000.00 2,993,437.50 3,000,000.00 1.450 912 874 1450 08/22/2012 3128X9AM2 10540 Federal Home Loan Mortgage Co. 08/24/2009 4,000,000.00 4,027,800.00 3,996,800.00 2.250 1096 876 2278 Oa/24/2012 3136FHMAO 10527 Federal Nat'l Mtg. Assoc. 04/29/2009 3,000,000.00 3,022,500.00 3,000,000.00 2.250 1279 942 2.250 10/29/2012 3133XXHS9 10559 Federal Home Loan Bank 03/24/2010 'J,OOq,OOO.OO 2,980,312.50 3,000000.00 1.500 1,006 998 1.500 12/24/2012 3133XWUG3 10551 Federal Home Loan Bank 02/11/2010 2,00q,000.00 1,998,750.00 2,000000.00 1.800 1,096 1,047 1.800 02/11/2013 31331JGZO 10556 Federal Farm Credit Bank 03/15/2010 3,00d,000.00 2,9a7 812.50 3,000000.00 1.750 1,096 1,079 1.750 03/15/2013 Federal Home Loan Bank , 3133XXCC9 1055-8 03/19/2010 2,00q,000.00 2,001,250,00 2,000000.00 2.150 1,096 1,Oa3 2.150 03/19/2013 3133XQJZ6 10477 Federal Home loan Bank 04/16/2008 3,000,000.00 3,003750.00 3,000000.00 3.750 1,826 1,111 3.750 04/16/2013 , 3136F9LC5 10496 Federal Nat'l Mtg. Assoc 04/29/2008 3,009,000.00 3,008,437,50 3,000000.00 4.000 1,826 1,124 4.000 04/29/2013 31331GWL9 10531 Federal Farm Credit Bank OS/20/2009 4,009,000.00 4,011,250.00 4,000,000.00 2.500 1,461 1,145 2.500 OS/20/2013 3133XTNJ1 10532 Federal Home Loan Bank OS/20/2009 3,00q,000.00 3,033750.00 3,000,000.00 2.500 1,461 1,145 2.500 OS/20/2013 31331GXN4 Federal Farm Credit Bank 06/03/2009 , 3,041,250.00 3,000,000.00 10537 3,000,000.00 2700 1,461 1,159 2.700 06/03/2013 3133XXLF2 10560 Federal Home Loan Bank 03/24/2010 4,00q,000.00 3,988,750.00 4,000000.00 2.000 1,188 1,180 2,000 06/24/2013 3128X9C40 10555 Federal Home Loan Mortgage Co. 02126/2010 4,00~,000.00 4,001,560.00 4,000000.00 2.125 1,277 1,243 2.125 08/26/2013 I Portfolio CHUL i i CC RUOlOale: 04/27/2010-13:48 PM (PRF_PM2) SymRept 6.41.202b , i ReportVer.5.00 I I CUSIP Investment # Issuer Average Balance Federal Agency Callables 3139SAJ29 3133XXGM3 3136FHRM9 3133XWSZ3 31331JDL4 3139SAXF4 312SXSL34 312SX9VN7 3139SAE81 10557 10561 10529 10550 10553 10528 10535 10554 10548 Federal Nat'l Mfg. Assoc. Federal Home Loan Bank Federal Nat'l Mtg. Assoc. Federal Home Loan Bank Federal Farm Credit Bank Federal Nat'l Mtg. Assoc. Federal Home Loan Mortgage Co. Federal Home Loan Mortgage Co. Federal Natl Mtg. Assoc. I , Chula Vista Inv~stment Pool Portfolio Ma~agement Portfolio Details J, Investments I March 31,' 2010 I Purchase Dale 03/16/2010 03/30/2010 05/14/2009 02/10/2010 02/11/2010 05/12/2009 06/09/2009 02/19/2010 01/29f2010 Subtotal and Average 78,548,562.10 Corporate Coupon Bonds EH6482796 10499 General Electric Cap 12f09/2008 3~HAHO 10508 General Electric Cap 0110812009 I ~ Subtotal and Average 3,992,960.00 n Total and Average 156,295,220.68 Run Dale: 04/2712010-13.48 Par Value Market Value 4,00q,ooo.00 3,980,000.00 3,000,000.00 2,980,312.50 I 3,00q,000.00 3,008437.50 3,00q,OOO.00 2,996,250.00 , 2,997,187.50 3,009,000.00 3,00~,000.00 3,009375.00 3,00q,000.00 3,016,140.00 3,00d,ooo.00 2,972,610.00 3,00q,000.00 2,986,875.00 , 91,112,527.50 91,OOq,OOO.00 2,OO~.000.00 2,066,780.00 2,000,000.00 2037,120.00 4,000,000.00 4,103,900.00 158,140,795.36 158,420,725.39 Page 3 Stated Days to YTM Maturity Book Value Rate Term Maturity Date 4,000,000.00 2.100 1,280 1,264 2.100 09/16/2013 3,000,000.00 2.000 1,280 1,278 2.000 09/30/2013 3,000,000.00 2.700 1645 1,323 2.700 11/14/2013 3,000,000.00 2.400 1,461 1,411 2.400 02/10/2014 3,000000,00 2.420 1,461 1,412 2.420 o2/11f2014 3,000,000.00 3.000 1,826 1,502 3.000 05/12f2014 3,000,000.00 3,000 1,826 1,530 3.000 06/09/2014 3,005,250,00 3.000 1,804 1,763 3000 01/28/2015 3,000,000.00 3.000 1,826 1,764 3000 01/29/2015 --- 91,000,175.00 1,333 1,130 2,315 1,994,260.00 3.000 1,095 617 3.101 12/09/2011 1,998,700.00 2.200 1,247 799 2.220 06/08/2012 --- 3,992,960.00 1,171 708 2,660 158,133,930.36 811 680 1.647 PortfolIo CHUL CC PM (PRF ]~,12) SymRepl6.41.202b CUSIP Investment # o o 680 1.647 Issuer Total Ca5h and Investmentss Average Balance w I ~ ~ Run Dale: 04127/2010-13:48 Average Balance 156,295,220.68 i I I , Chula Vista Inv~stment Pool Portfolio Marlagement I Portfolio Details - Cash March 31, 2010 I Purchase Dale 0.00 Par Value Market Value 158,140,795.36 I I I I I I 158,420,725.39 Stated Book Value Rate 158,133,930.36 Page 4 Days to Term Maturity YTM 811 Portfolio CHUL CC PM (PRF _PI\12) SymRept 6 41 .202b I , Chula Vista Inv~stment Pool Portfolio Management Page 6 I Activity By Type I March 1, 2010 through March 31, 2010 i Stated Transaction Purchases Redemptions CUSIP Investment # Issuer Rate Date or Deposits or Withdrawals Balance Managed Pool Account 1 (Monthly Summary) SYS10197 10197 local Agency Investment Fund 0.547 0.00 13,000,000.00 Subtotal 0.00 13,000,000.00 55,128,883.77 Managed Pool Account 3 (Monthly Summary) Subtotal 5,000,322.56 Managed Pool Account 2 (Monthly Summary) Subtotal 1,011,589.03 Federal Agency Coupon Securities Subtotal 2,000,000.00 Federal Agency Callables 3~lJGZO 10556 Federal Farm Credit Bank 1.750 03/15/2010 3,000,000.00 0.00 3 XXCG9 10558 Federal Home Loan l3ank 2.150 03/19f2010 2,000,000.00 0,00 3'NXXHS9 10559 Federal Home Loan Bank 1.500 03f24f2010 3,000000.00 0.00 3133XXLF2 10560 Federal Home Loan Bank 2.000 03f24/2010 4,000000.00 0.00 3133XXGM3 10561 Federal Home Loan Bank 2.000 03/30/2010 3,000,000.00 0.00 31398AJ29 10557 Federal Nat'1 Mtg. Assoc. 2.100 03/16/2010 4,000,000.00 0.00 Subtotal 19,000,000.00 0.00 91,000,175.00 Corporate Coupon Bonds Subtotal 3,992,960.00 Total 19,000,000.00 13,000,000.00 158,133,930.36 RUflD<:lte:04/27/2010-13:4B Portfolio CHUL CC PM (pRF _PI.13) SynlRep! 6.41.202b ReportVer 5.00 I I i Chula Vista Inv~stment Pool I Portfolio Management Page G Activity Sulnmary March 2009 through March 2010 Yield to Maturityl Managed Number Number. Month Number of Total 360 I 365 Pool of Investments of Investments Average Average End Year Securities Invested Equivalent Equi~alent Rate Purchased Redeemed Term Days to Maturity March 2009 39 179,249,941.22 2.709 2.747 1.822 0 4 902 771 April 2009 37 193,554,849.37 2.468 2.503 1.607 2 4 779 656 , May 2009 39 203,565,491.69 2.369 ~.402 1.530 7 5 813 701 Jun~ 2009 37 175,184,702.26 2.255 2.286 1.377 4 6 912 809 I July 2009 37 175,468,951.01 2.117 2.147 1.035 1 1 915 799 I August 2009 38 161,466,761.59 2.215 2.246 0.925 1 0 1,021 873 I September 2009 38 153,967,772.17 2.242 2.273 0.750 0 0 1,071 892 ; October 2009 38 145,078,134.30 2.228 2.259 0.646 2 2 1,088 884 November 2009 35 134,079,144.88 2.106 2.136 0.611 0 3 1,039 819 December 2009 33 143,077,123.72 1.877 1.903 0.569 1 3 889 680 I January 2010 31 158,128,680.36 1.603 1.626 0.558 3 5 724 560 I February 2010 29 152,133,930.36 1.509 1.530 0.577 6 8 697 578 MfrCh I 2010 35 158,133,930.36 1.624 1:.647 0.547 6 0 811 680 , ~ I W Average 36 164,083,801.02 2.102% 2.131% 0.966 3 3 897 746 I I I Run Dale.04/27/2010-13-48 Portfolio CHUL CC PM (PRF ]M4) SymRept 6.41 202b ReportVer.5.00 Security Type Managed Pool Account 1 Short Term Pool Accounts Managed Pool Account 3 Managed Pool Account 2 Federal Agency Coupon Securities Federal Agency Callabl~s Corporate Coupon Bonds w I ~ "'" Run Dale: 0412712010-13:48 March 2009 30.3 0.6 1.7 65.3 2.2 April 2009 39.1 0.5 1.6 56.8 2.1 i , Chula Vista InvJstment Pool Portfolio MaMagement Distribution of Inve~tments By Type March 2009 through March 2010 I May 2009 38.6 June 2009 33.2 0.5 1.5 57.5 2.0 0.6 63.9 2.3 JUly 2009 33.3 21.4 August Septomber October November December January February ! 2009 2009 2009 2009 2009 2010 2010 I 25.1 0.6 i , I I I 0.6 I 71.8 I 2.5 i I I I , I , , i I I I 75.3 2.6 0.7 63.8 2.3 I i i I , I I I I I i , i , , I , I I , I I 18.7 0.7 14 76.5 2.8 . 20.2 0.8 1.5 74.6 3.0 30.8 0.7 0.7 1.4 63.6 2.8 43.1 0.6 0.6 1.3 51.9 2.5 44.8 3.3 0.7 1.3 47.3 2.6 March 2010 34.9 3.2 0.6 1.3 57.6 2.5 Page 7 Average by Period 31.8% 0.6% 0.6% 1.0% 63.5% 2.5% Portfolio CHUL CC PI" (PRF_PM5) SyrllRepl6 1l1.202b ReportVer.500 I , I Chula Vista Inv~stment Pool Portfolio Management Interest Earnings Summary I March 31,:2010 Page [l March 31 Month Ending Fiscal Year To Date CD/CouponlDiscount Investments: Interest Collected Plus Accrued Interest at End of Per od Less Accrued Interest at Beginning of Pe(od Less Accrued Interest at Purchase Our ng Period 0.00 550,037.06 383,391.04) 0.00) 166,646.02 0.00 166,646.02 0.00 0.00 ( I 0.00) q 0.00) 0.00 0.00 0.00 0.00 0.00 98,324.48 61,804.30) 36,520.18 203,166.20 0.00 203,166.20 ( ( 2,278,026.44 550,037.06 775,628.78) 5,250.00) 2,047,184.72 0.00 Interest Earned during Period Adjusted by Capital Gains or Losses Earnings during Periods 2,047,184.72 w I ~ Pass Through Securities: lnterest Collected Plus Accrued Interest at End of Period Less Accrued Interest at Beginning of Period Less Accrued Interest at Purchase During Period 0.00 0.00 0.00) 0.00) U'1 Interest Earned during Period Adjusted by Premiums and Discounts Adjusted by Capital Gains or Losses 0.00 0.00 0.00 Earnings during Periods 0.00 Cash/Checking Accounts: Jnterest Collected Plus Accrued Interest at End of PerIod Less Accrued Interest at Beginning of Period 447,178.10 98,324.48 284,083.13) Interest Earned during Period 261,419.45 Total Interest Earned during Period Total Capital Gains or Losses 2,308,604.17 0.00 Total Earnings during Period 2,308,604.17 HunD1Jte: 04127/2010-13:48 Portfolio CHUL CC PM (pr~F_PM6) SymRept 6 41.202b ReporlVer.5.00 ~~~ ~~,~ ~ ~~~....... (lIT OF . CHUIA VISTA CUSIP Investment # Security Type Pa, Value . i Chula Vista Investment Pool , Accrued Interest I Sorted by Issuer - In~estment Number March 1,2010 -March 31, 2010 I I -j. Beginning Accrued Interest Maturity Date Current Rate 0,560 2500 1.800 2.700 1.350 2.420 1.750 3.750 2.500 1.750 2.400 1.800 1.450 2.150 1.500 2.000 2.000 2.000 3.000 2.000 2.250 3.000 2.125 Adjusted Acc'd lnt. at Purchase During Period 1,388.42 0,00 1,388.42 0.00 28,055.56 0.00 20,000.00 0.00 19,800.00 0.00 3,150.00 0.00 4,033.33 0.00 0.00 0.00 75,038.B9 0.00 42,187.50 0.00 21,041.67 0.00 13,805.56 0.00 4,200,00 0.00 2,000.00 0.00 1,087.50 0.00 0.00 0.00 0.00 0.00 0.00 000 0.00 0.00 84,322.23 0.00 20,666.67 0.00 20,500.00 0.00 12,666.67 0.00 1,750.00 0.00 8,250.00 0.00 1,180.56 0.00 65,013.90 0.00 CalTrust SHort Term Fund SY$10507 10507 PA1 1,011,589.03 Subtotal 1,011,589.03 Federal Farm Credit Bank 31331GWL9 10531 MC1 4000,000.00 OS/20/2013 31331GWQ8 10534 MC1 4,000,000.00 OS/21/2012 31331GXN4 10537 'MC1 3,000,000.00 06103/2013 31331JCA9 10545 MC1 2,000,000.00 04119/2012 31331JDL4 10553 MC1 3000,000.00 02/11/2014 31331JGZO 10556 MC1 3,000,000.00 03f15/2013 Subtotal 19,000,000.00 FOderal Home Loan Bank 3tLXQJZ6 10477 MC1 3,000,000.00 04f16/2013 301XTNJ1 10532 MC1 3,000,000.00 OS/20/2013 3133XV6UO 10542 FAC 2,000,000.00 10f09/2012 3133XWSZ3 10550 MC1 3,000,000.00 02f10/2014 3133XWUB3 10551 Me1 2,000,000.00 02/11/2013 3133XWU98 10552 MC1 3,000,000.00 08/22/2012 3133XXCC9 10558 MC1 2,000,000.00 03/19f2013 3133XXHS9 10559 MC1 3,000,000.00 12/24f2012 3133XXLF2 10560 MC1 4,000,000.00 06/24/2013 3133XXGM3 10561 MC1 3,000,000.00 09/30f2013 Subtotal 28,000,000.00 Federal Home Loan Mortgage Co. 3128X8XS6 10526 MC1 3,000,000.00 04127/2012 3128X8L34 10535 MC1 3,000,000.00 06/09f2014 3128X8L42 10536 MC1 3,000,000.00 06/1512012 3128X9AM2 10540 MC1 4,000,000.00 08/24f2012 3128X9VN7 10554 MC1 3,000,000.00 01/28f2015 3128X9C40 10555 MC1 4,000,000.00 08/2612013 Subtotal 20,000,000.00 . Beginning Accrued may not include investments that redemed in the previous month that hadi outstanding accrued interest. I I I Run Dale. 0412712010 -13:49 City of Chula Vista 276 Fourth Ave Chula Vista CA 91910 (619)691-5250 Interest Interest * Ending Earned Received Accrued Interest 472.82 0.00 1,861.24 472.82 0.00 1,861.24 8,333.33 0.00 36,388.89 6,000.00 0.00 26,000.00 6,750.00 0.00 26,550.00 2,250.00 0.00 5,400.00 6050.00 0.00 10,083.33 2333.33 0.00 2.333,33 31,716.66 0.00 106,755.55 9,375.00 000 51,562.50 6,250.00 0.00 27,291.67 2,916.66 0.00 16,722.22 6,000.00 0.00 10,200.00 3,000.00 0.00 5,000.00 3,625.00 0.00 4,712.50 1,433.33 0.00 1,433.33 875.00 0.00 875.00 1,555.56 0.00 1,555.56 166.67 0.00 166.67 35,197.22 0.00 119,519.45 5,000.00 0.00 25,666.67 7,500.00 0.00 28,000.00 5,000.00 0.00 17,666.67 7,500,00 0.00 9,250.00 7,500.00 0.00 15,750.00 7,083.33 0_00 8,263.89 39,583.33 0.00 104,597.23 Ending Accrued includes outstanding purctlase interest. Portfolio CHUL CC AI {PRF_AI} SymRepI6.41.202b ReportVer.5.oo I Chula Vista Investment Pool Accrued Interest , Sorted by Issuer - Investment Number -Page 2 i ! . Beginning Adjusted Acc'd ]nt. Security p" Maturity Current at Purchase Interest Interest . Ending CUSIP Investment # Type Value Date Rate Accrued Interest DurIng Period Earned Received Accrued Interest Federal Nat'l Mtg. Assoc. 3136F9LC5 10496 MC1 3,000,000.00 04/29/2013 4.000 40,666.67 0.00 10,000.00 0.00 50,666.67 3136F94M2 10511 MC1 4,000000.00 01/27/2012 2.000 7,555.56 0.00 6,666.66 0.00 14,222.22 3136FHMAO 10527 MC1 3,000,000.00 10f29/2012 2.250 22,875.00 0.00 5,625.00 0.00 28,500.00 3139SAXF4 .10528 MC1 3,000,000.00 05/12/2014 3.000 27,250.00 0.00 7,500.00 0.00 34,750.00 3136FHRM9 10529 MC1 3,000,000.00 11/14(2013 2.700 24,075.00 0.00 6,750.00 0.00 30,825.00 3136FJX22 10546 MC1 3,000,000.00 07/20/2012 1.500 5,125.00 0.00 3,750.00 0.00 8,875.00 31398AE81 10548 MC1 3,000,000_00 01/2912015 3.000 8,000.00 0.00 7,500.00 0.00 15,500.00 31398AJ29 10557 MC1 4,000,000.00 09/16/2013 2.100 0.00 0.00 3,500.00 0.00 3,500.00 Subtotal 26,000,000.00 135,547.23 0,00 51,291.66 0.00 186,638.69 General Electric Cap EI-16482796 10499 MC2 2000,000.00 12f09f2011 3.000 13516.48 0.00 5,109.89 0,00 18.626.37 36967HAHO 10508 Me2 2,000,000.00 06/08f2012 2.200 9,952.37 0.00 3,747.26 0.00 13,699.63 Subtotal 4,000,000.00 23,468.85 0.00 8,857.15 0.00 32,326.00 Local Agency Investment Fund SW0197 10197 LA1 55,128,883.77 0.547 56,681.67 0.00 32,171.77 0.00 88,853.44 I ~ Subtotal 55,128,883.77 56,681.67 0.00 32,171.77 0.00 88,853.44 -.... San Diego County Jnv Pool SYS10547 10547 LA3 5,000,322.56 0.990 3,734.21 0_00 3,875.59 0.00 7,609.80 Subtotal 5,000,322.56 3,734.21 0.00 3,875.59 0.00 7,609.80 Total 158,140,795.36 445,195.40 0.00 203,166.20 0.00 648,361.60 I I , I i i I I , i I i , . Beginning Accrued may not include investments that redemed in the previous month that had: outstanding accrued interest. i I , Run Dale: 04f27f2010-13:49 ! I Ending Accrued includes outstanding purchase interest. Portfolio CHUL CC AI (PRF _AI) SymRepI6.41.202b ReportVer.5.oo ~~~ ~..~ ,', ,- ","''''''', ;.,;. . .. -',,; -", ~~~~ CITY OF (HUlA VISTA Investment # Issuer lnv. Type 0.00 0.00 No Sales or Maturlies c.o:> I --' 00 Run Dale:0412712010-13A9 Purchase Date Par Value Current Rate Maturity Date 0,00 Chula Vista Investment Pool Realized Gains land Losses I Sorted By Maturity/Sale/Call Date Sales/Calls/Maturities: Marchi 1, 2010 - March 31, 2010 I . I Book Value Sale Date Days Held Term o MaturitylSale Proceeds 0.00 0.00 Realized GainlLoss Total Earnings 0.00 City of Chula Vista 276 Fourth Ave Chula Vista CA 9191(J (619)691-5250 Total Total Net Earnings Yield 365 Portfolio CHUL CC CG (PRF_CGR1) SymRept 6.41 202b ReportVer 5.{JO Schedule of Cashl1nvestments with Fiscal Agent 3S of March 31, 2010 Fiscal Maturity Purchase Contractual Book 30nd Issue Secunty Description Trust Acct # Agent Type Date -Date Par Value-MktValue- Value Yield , )4 CV Pension Oblig Bd 1st American Trs Oblig CL D Corp Tr 95439642 US Bank MF Mutual Funds Var ::;OP 2000A Financing Proj Milestone Treasury Oblig FD Prem Shr 94418720/21/24 US Bank MF Mutual Funds 119,018 119,018 119-018 Var :::V Public Financing Authority Milestone Treasury Ob ig FD Prem Shr l4430300/1/2/3/4/5/8/9/10/11/1: US Bank MF Mutual Funds 4,168,875 4,168,875 4,168,875 Var 2001-1/2001~2 RAD Trinity Plus Funding Co InvstAgrmt 94430303 US Bank IA Invtmnt Agrmt 02-Sep-17 04-Sep-01 1,201,778 1,201,778 1,201,778 5.0.'J0 Trinity Plus Funding Co lnvst Agrmt 94430312 US Bank IA lnvtmnt Agrmt 02-Sep-17 04-Sep-01 426,500 426,500 426,500 5.600 2002 COP pol'ce Facilities US Treasury 94445202 US Bank use US Trsy Notes 2,021,563 2,104,680 2,021,563 5.835 Mi estone Treasury Oblig FD Prem Shr 94445200/2/4 US Bank MF Mutual Funds 31,753 31,753 31,753 Var :::FD 06-1 Improvement Area A Cash 94477000 US Bank CFA Cash-Fiscal Agt Mlestone Treasury Obl"g FD Prem Shr 94477000/3/4/5/6/9/10 US Bank MF Mutual Funds 2,253,714 2253,714 2,253,714 Var Local Agency Investment Fund 94477005/619 US Bank IA Invmnt Agrmt 4,808,392 4,808,392 4,808,392 Var FHLB 1.550 08/10/2012 94477003 US Bank use US Trsy Notes 10-Aug-2012 31-Mar-2010 2,700,000 2,703,375 2,700,000 1.550 2003 Refunding Cert of Participation FSA Capital Mgmt lnvst Agreement 94652201 US Bank ,A Invmnt Agrmt 01-Sep-12 11-Jun-03 1,132,000 1,132000 1,132,000 3.100 Milestone Treasury Oblig FD Prem Shr 94652200/1 US Bank MF Mutual Funds 17,254 17,254 17,254 Var :FD 2001-2 McMil in-Olay Ranch 6 Milestone Treasury Oblig FD Prem Shr 94658900/03/04/05/08/09/10 US Bank MF Mutual Funds 614,280 614,280 614,280 Var FHLB 1.550 08/10/2012 94658903 US Bank USG US Trsy Notes 10-Aug-2012 31-Mar-2010 700,000 700,875 700,000 1.550 :::FD 08-1 Otay Ranch V Ilage 6 M lestone Treasury Obrg FD Prem Shr 1682100/03/04/05/06/07/10/111 US Bank MF Mutual Funds 1,065,315 1,065,315 1,065,315 Var LAIF 94682105/12 US Bank IA Invmnt Agrmt 1,582,679 1,582,679 1,582,679 FNMA MTN 1,850 03/25/2013 94682103 US Bank US( US Trsy Notes 25-Mar-2013 25-Mar-2010 1,500,000 1,493,445 1,499,700 1.850 :FD 07 -I McMillin Otay Rnch VlIg 11 Milestone Treasury Oblig FD prem Shr 784708000/03/04/05/06/07 US Bank MF Mutual Funds 730,650 730,650 730650 Var LAIF 784708003/06 US Bank IA Invmnt Agrmt 2,395,445 2,395,445 2,395,445 :FD 06-1 Improvement Area B Milestone Treasury Oblig FD prem Shr 786104000f3/4/5 US Bank MF Mutual Funds 1,199,867 1,199,867 1,199,867 Var FNMA MTN 1 850 03/25/2013 786104003 US Bank use US Trsy Notes 25-Mar-2013 25-Mar-2010 500,000 497,815 499,900 1.850 :004 COP Civic Center Phase I Dreyfus Inst'1 Res Treasury 325540-44 BNY MF Mutual Funds Var FSA Capital Management ServIces LLC 325544 BNY IA Invmnt Agrmt 01-Mar-34 16-Sep-04 2,395,911 2,395,911 2395,911 5.205 ~006 COP Civic Center Phase II Dreyfus Inst'l Res Treasury 145756/57/58168/69 BNY MF Mutual Funds 48,956 48,956 48,956 Var FSA Investment Agreement 145757 BNY IA Invmnt Agrmt 01-Mar-36 17-Mar-200G 1,272,459 1,272,459 1,272,459 5.010 ~VPFA 2005 Rev Refunding Ser A Milestone Treasury Ob ig FD Prem Shr 790488000+ US Bank MF Mutual Funds 12,530,200 12 530,200 12,530,200 Var W Citlgroup GIC #871615.1 Reserve Accounts US Bank IA Invmnt Agrmt 01-Sep-2032 6,436,873 6436,873 6,436 873 4.889 I US Treasury Escrow Accounts US Bank use Us Trsy Notes 25,823,682 31,457,923 25,823,682 Var ~FD O'"f-'1lmprovement Area 8 Mi estone Treasury Oblig FD Prem Shr 792183000-10 US Bank MF Mutual Funds 5910,090 5,910,090 5,910,090 Var CO . FNMA MTN 1.850 03f25/2013 792183003 US Bank USe: US Trsy Notes 25-Mar-2013 25-Mar-2010 500,000 497,815 499,900 1.850 ~FD 12-1 McMillin Otay Rnch VlIg 7 Mlestone Treasury Oblig FD Prem Shr 791949000/4/5/6f718J11/12 US Bank MF Mutual Funds 1,702,218 1,702,218 1,702,218 Var FNMA MTN 1.850 03/25/2013 791949004 US Bank use US Trsy Notes 25-Mar-2013 25-Mar-2010 1,000,000 995,630 999,800 1.850 ~FD 13-1 Otay Ra1ch VlIg 7 MiJestone Treasury Obi 9 FD Prem Shr '93774000103/04/05106/07108/1 US Bank MF Mutual Funds 3,761,463 3,761,463 3,761,463 Var LAIF 793774003 US Bank IA tnvmnt Agrmt 1,256 883 1,256,883 1,256,883 ~FD 07-18 McMil in Otay Rnch Vilg 11 Milestone Treasury Oblig FD prem Shr 794322000/01/03/04/05/09 US Bank MF Mutual Funds 2,086,120 2,086,120 2,086,120 Var lAIF 794322003 US Bank IA Invmnt Agrmt 209,957 209,957 209,957 :010 COP Cap'tal Facilities Refunding Milestone Treasury Obrg FD Prem Shr 136267000-136267005 US Bank MF Mutual Funds 4,403,789 4,403789 4,403,789 Var Cash 136267005 US Bank CFA Cash-Fiscal Agt 6 6 6 J6 Sr. Tax Alloc Ref Bonds A Milestone Treasury PS Fund # M5 103986000/05 US Bank MF Mutua Funds 0 0 0 Var Rabobank International NY Branch 103986003 US Bank IA Invmnt Agrmt 09-Aug-2027 11-Sep~2006 1 027,945 1,027,945 1,027,945 4.980 l6 Subord'nate Tax Alloc Ref Bds Milestone Treasury PS Fund # M5 103987003/05 US Bank MF Mutual Funds 280,813 280,813 280,813 Var CitiGroup Financial Products, Inc. GIC 103987003 US Bank IA Invmnt Agrmt 26-Sep-2027 11-Sep-2006 1 004,365 1,004,365 1,004,365 5.097 mA 2008 Tax AlIoc Ref Bonds Milestone Treasury P$ Fund # M5 127926000106011 US Bank MF Mutual Funds 30-Sep-2036 22-Jul-2008 5 194,843 5,194843. 5,194,843 Var :OBG Sect on 108 Loan Cash - Interest Bearing Acct 1459703226 B of A RC Restricted Cash 7,326,792 7,326.792 7,326,792 Var )range Tree MHP Cash - Interest Bearing Acct 2324-80156 BofA RC Restricted Cash 609,692 609 692 609,692 Var \DA Housing Program Cash - Interest Bearing Acct Various BofA RC Restricted Cash 4,013,728 4,013,728 4013,728 Var :DBG Housing Program Cash - Interest Bear ng Acel Various BofA RC Restricted Cash 135 540 135,540 135,540 Var 3rand Total as of March 31,2010 118,101,404 123,807,718 118,100,704 :1 ename.J:\finance\data\lnvest\lnv1 O.xls rflnance\d<lta\lnvest\lnv10.xls City of Chula Vista CashlTime Deposits 31-Mar-10 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 CashlTime Deposits as of 03/31/2010 j:finance\data\Cash and Time Deposits FY0910 MAR 3!...2~0.Xls 7,744,342 o 1,902 364,455 5,050 310,000 8,110,699 5,050 310,000 8,425,749 As of April 29, 2010