07. Treasurer's Investment report
City Hall
10300 Torre Avenue
Cupertino, CA 95014-3255
Telephone: (408) 777-3220
FAX: (408)777-3366
CITY OF
CUPEIQ"INO
DEPARTMENT OF ADMINISTRATIYE SERYICES
SUMMARY
Agenda Item No. -,
Meeting Date: January 16, 2007
SUBJECT AND ISSUE
Accept the Treasurer's Investment Report for November 2006.
BACKGROUND
Enclosed is the Treasurer's Investment Report for the month ended November 30, 2006. The
report includes all funds in control of the City.
The market value of the City's portfolio totaled $48 million at the end of November, with a cost
of $48.2 million. The difference, an unrealized paper loss, decreased slightly from last month.
The portfolio yielded 4.54% in November up from 4.49% the previous month and up from 3.29%
a year ago. The Local Agency Investment Fund (LAIF) yielded 5.13% for the same time period,
up from 5.10% in the previous month and 3.64% a year ago.
The City's cash and investment balance increased by $0.8 million because of grant
reimbursements for the Mary Avenue Footbridge project, with the balance placed in LAIF and
money market funds which continue to have attractive yields.
Investments are in full compliance with City investment policy and/or State law, and are tiered to
provide sufficient cash flows to pay City obligations over the next six months.
RECOMMENDATION
Accept the Treasurer's Investment Report for November 2006.
Subm~bY:
~~
David R. Woo
Deputy Treasurer
Approved for submission:
(!rL- ~
David W. Kn<tP
City Manager
Approved by:
C~t&f (Zah.j!/p-cl/
Carol A. Atwood
City Treasurer
Printed on Recycled Paper
<7'- (
City of Cupertino
November 30, 2006
CASH
LAIF
DESCRIPTION
COUPON ADJUSTED
RATE COST
SECURITIES CALLED
SECURITIES PURCHASED
,CITY PORTFOLIO
_____ j I
11/30/06 [Wells Fargo - Workers Comp Checking
11/30/06 i Wells Fargo - Regular Checking .
II/30/06 I Wells Fargo -Investment Sweep
CERTIFICATES OF DEPOSIT
11/30/06 ,LAIF - State Pool
03/30/06
03/29/06
02/03/06
01/27/06 .
02/03/06
I
03/24/04 I
03/28/06
04/05/06
02/03/06
01lIO/Q(i ,
03/17/04
03/19/04
03/24/04 '
j
03/24/04
03/26/04 .
03/30/06
04/07/04 '
03/26/04 .
03/] 7/04
03/24/04
12/30/05
12/28/05
03/30/07 Western Sierra National Bank
03/29/07 First National Bank of Scottsboro
05/01/07 Mountain National Bank
07/27/07;Lehman Bras Bank
08/03/07 I Business Bank of Fox River
09/24/07 [Signature Bank Nat'l Assn
09/28/07 Venture Bank
I
10/05/07 : Mercantile Bank of Michigan
02/04/08 i PrimeSouth Bank
. - oih 1/08 -t FI~ridaCommunity Bank
03/17/08 JAmeJ'i~an Trust Fed Savings Bank
03/19/08 I Planters First Cordell GA
I
03/24/08 j Badger State Bank
03/24/08 !Wilmont State Bank
03/26/08 [Privatebank & Tru;i.'
03/28/08 [First Georgia Banking Company
04/07/08 lCole Taylor Bank, step coupon
I
09/26/08 ,Southcoast Community Bank
03/17/09 Yeoples State Bank
03/24/09 Washita State Bank
12/30/09 Meridian Bank
12/28/10 Nat'l Bank of New York City
MONEY MARKET FUNDS
11/30/06 :Wells Fargo Government
,
3.88%,
t
12,245
989,543
177,340 :
1,179,128
5.13% 16,879,656:
5,00%
4,90%
4,60%
4,60%.
4,60%
2,70%.
5,00%
5,00%
4.65%:
4,75%
3.00%'
3.05%
3.00%
3.00%
3.20%
5.05%
2.49%'
3.20%'
3.40%
3.35%.
4,80%'
4,90%
95,000
99,000
98,927
97,000
99,000
99,000 :
97,000
97,000
97,000
99,000
99,000
98,000
99,000
99,000
99,000 '
99,000
97,000
98,000
99,000
99,000 :
99,000 '
97,000 '
2,159,927
5,15% 8,535,007
8,535,007 !
MATURITY
V AWE
12,245
989,543 ,
177,340
1,179,128
16,879,656
95,000
99,000
99,000
97,000 '
99,000 .
99,000
97,000
97,000
97,000
99,000
99,000
98,000
99,000
99,000
99,000
99,000
97,000
98,000
99,000
99,000
99,000
97,000
2,160,000 '
8,535,007
8,535,007 ;
MARKET
V AWE
12,245 r
I
989,543
177.340 '
1,179,128
16,879,656
94,860
98,826
98,668
96,509 .
. I
98,488 i
96,841
96,774
96,774
96,082
98,162
95,728
94,800
95,687
95,686
95,884
98,473
93,681
93,839 .
94,272
94,155
97,209
95,084
2,116,482
8,535,007
8,535,007
UNREALlZE
PROFIT/LOSS
o
o
o
o
o
(140)
(174)
(259)
(491)
(512)
(2,159)
(226)
(226)
(918)
(838)
(3,272)
(3,200)
(3,313)
(3,314)
(3,116)
(527)
(3,319)
(4,161)
(4,728)
(4,845)
(1,791)
(1,916)
(43,445)
o
')-2
City of Cupertino
November 30, 2006
DESCRWTION
i
----~~ l jB~~_:~~~~YFL~ORi!()LI9 -
Bond Reserve Acct . I Ambac Assurance .~e~l"i.l}'. Bond_
Bon~d Paym~t.A.cctn : Wells Treasury Plus Mo-"_eYrvtl<t
Total Bond Reserve Portfolio
1
f
I
'-'-'
4,66%i
I
4,428
4428 !
MATURITY
VALUE
I
- - ------------
4,428
4428 .
I
4,428 i
4428 '
o
o
')-]
6,00%
Investments by Type
Managed Portfolio
Agency Notes
41%
LAIF
35%
4%
Money Market
18%
I Rate of Return Comparison I
5.00% -.------ -- ---.---..
4.00% - - --
3.00% --..-----.--~--
2,00%
1,00%
000%
12/05
1/06
2/06
4/06
5/06
6/06
8/06
7/06
3/06
9/06
10/06
11/06
! _L(
COMPLIANCE WITH INVESTMENT POLICY
City of Cupertino
November 30, 2006
Category
Treasury Issues
US Agencies
Medium Term Corporate Bonds/Notes
LAIF
Money Market Funds
Maximum Maturities
Per Issuer Max
Bankers Acceptances
Commercial Paper
Negotiable Certificates of Deposit
Repurchase Agreements
Reverse Repurchase agreements
Standard
No limit
No limit
30% with A rating
$40 million
20%
Up to 5 years
1 0% (except LAIF)
180 days & 40%
270 days & 25%
30%
365 days
Prohibited
Complies
Complies
Complies
Complies
Complies
Complies
Complies
Complies
Complies
Complies
Complies
Complies
Comment
1-5'