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Investment Report Attachment July thru Sept 2017 REVISEDWeighted Average YTM Portfolio Yield: Portfolio Balance Benchmarks/ References: Town's Average Yield LAIF Yield for month 3 mo. Treasury 6 mo. Treasury 2 yr. Treasury 5 yr. Treasury (most recent) 10 Yr. Treasury This Month $67,380,046 1.37% 1.11% 1.05% 1.19% 1.49% 1.94% 2.33% Town of Los Gatos Summary Investment Information September 30, 2017 1.37% Weighted Average Maturity (days) 423 Last Month $70,086,827 1.27% 1.05% 0.99% 1.08% 1.33% 1.70% 2.12% One year ago $69,818,409 0.88% 0.57% 0.26% 0.35% 0.58% 0.99% 1.44% Portfolio Maturity Profile 3 - 5 years 15% -..-- - 2 - 3 years 25% 1 - 2 years 30% 0 - 1 year 30% Compliance: The Town's investments are in compliance with the Town's investment policy dated May 16, 2017 and also in compliance with the requirements of Section 53601 of the California State Code. Based on the information available, the Town has sufficient funds to meet the cash demands for the next six months. Page I Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances September 30, 2017 Fund Balances - Beginning of Month/Period Receipts Disbursements Fund Balances - End of Month/Period Portfolio Allocation: BNY MM US Treasury Notes Government Agency Debenture Notes Corporate Medium Term Bonds Local Agency Investment Fund Subtotal -Investments Reconciled Demand Deposit Balances Total Treasurer's Fund Month YTD $70,086,826.67 $75,983,998.32 2,107,151.06 6,354,522.63 (4,813,932.20) J14,958,475.391 $67,380,045.53 $67,380,045.56 $87,196.63 $7,997,539.06 $28,454,414.00 $14,371,523.51 6,213,877.36 57,124,550.56 10,255,494.97 $67,380,045.53 % of Portfolio Max. % Or $ Allowed Per State Law or Policy 0.15% 14.00% 49.81% 25.16% 10.88% 20% of Town Portfolio No Max. on US Treasuries No Max. on Non -Mortgage Backed 30%of Town Portfolio $65M per State Law 100.00% Portfolio Investment Allocation Local Agency Investment Fund BNY MM 10.9% 0 1s% Corporate Medium Term Bonds 25.2% US Treasury Notes 14.00% 76,000,000 74,000,000 72,000,000 70,000,000 68,000,000 66,000,000 64,000,000 62,000,000 60,000,000 Treasurer's Fund Balances Government Agency Debenture Notes 49.81% page 2 Town of Los Gatos Non -Treasury Restricted Fund Balances September 30, 2017 SEP 17 SEP 17 SEP 17 Previous Deposits Ending Balance Realized Gain/Adl. Interest Withdrawals Balance Non -Treasury Funds: Cert. of Participation 2002 Series A Reserve Fund $ 686,814.11 $ 248.84 $ 687,062.95 Note 1 Cert. Of Participation 2002 Ser A Lease Pymt Fund 286.65 0.26 286.91 Note 1 Cert. of Participation 2002 Series A Const. Fund 72.24 72.24 Note 1 1,282,561.65 942.71 1,283,504.36 Note 2 Total Restricted Funds: $ 1,969,734.65 $0.00 $1,191.81 $0.00 $1,970,926.46 These accounts are not part of the Treasurer's fund balances reported elsewhere in this report, as they are for separate and distinct entities. Note 1: The three original funds for the Certificates of Participation 2002 Series A consist of construction funds which wit be expended over the next few years, reserve funds which will guarantee the payment of lease payments, and a third fund for the disbursement of lease payments and initial delivery costs. Note 2: The 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010. Page 3 Town of Los Gatos Statement of Interest Earned September 30, 2017 Interest by Month July 2017 August 2017 September 2017 October 2017 November 2017 December 2017 January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 $58,520.73 54,113.45 50,380.68 $163,014.86 Page 4 Town of Los Gatos Investment Schedule September 30, 2017 Maturity Yield to Interest Interest Interest Days Deposit Par Original Market Purchased Date or Maturity Received Earned gamed to Institution Sec r • Date Value Cast Value Interest Cr p_ge or Call to Date Prior Yrs. Current FY Mat./ Freddie Mac Gov. Agency Debentur, 08/01/16 1,000,000.00 1,005,560.00 994,921.00 4/15/2019 0.92% $ 7,187.50 5 8,387.83 $ 2,317.36 562 Toyota Motor Credit Corporate Bond 07/10/15 500,000.00 502,200.00 499,997.00 10/5/2017 1.05% $ 10,850.69 $ 10,406.77 5 1,327.91 5 Toyota Motor Credit Corporate Bond 07/25/16 950,000.00 954,246.50 945,746.85 5/20/2019 1.24% $ 10,898.61 5 10,985.92 5 2,972.66 597 FHLB Gov. Agency Debentur, 9/20/2017 1,785,000.00 1,776,432.00 1,770,862.80 6,681.35 6/12/2020 1.56% $ (6,681.35) 5 - 5 758.46 986 35 Bancorp Corporate Bond 8/8/2016 1,000,0130.00 1,019,550.00 1,004,136.00 10/15/2018 1.08% $ 15,004.17 $ 9,429.85 $ 2,661.18 380 Microsoft Corporate Bond 8/8/2016 1,000,000.00 999,070.00 991,083.00 8/8/2019 1.12% $ 11,003.00 $ 9,982.45 5 2,817.13 677 FFCB Gov. Agency Debentur. 9/20/2017 1,600,000.00 1,602,300.00 L597,984.00 11,662.22 4/6/2020 1.54% $ (11,662.22) $ - $ 676.57 919 FNMA Gov. Agency Debentur, 9/21/2017 1,300,000.00 1,295,866.00 1,291,706.00 379.17 9/14/2020 1.61% $ (379.17) $ - $ 514.99 1080 US Treasury US Treasury No 9/21/2017 1,000,000.00 997,109.38 994,648.00 4,245.22 5/31/2020 1.4896 $ (4,245.221 $ • $ 365.51 974 FHLB Gov. Agency Debentur, 12/12/12 2,000,000.00 1,998,720.00 1,998,732.00 12/8/2017 0.76% 5 66,083.33 $ 69,427.17 $ 3,845.45 69 FNMA Gov. Agency Debentur, 04/17/13 1,000,000.00 1,004,400.00 999,260.00 3/5/2018 1.03% $ 49,312.50 $ 43,523.65 $ 2,608.58 156 AAPL Corporate Bond 05/16/13 1,0E0,000.00 991,680.01 997,660.00 5/3/2018 1.17% $ 39,638.69 $ 48,171.42 5 2,942.74 215 FHLB Gov. Agency Debentur, 06/09/15 1,000,000.00 997,710.00 999,020.00 8/27/2018 1.22% $ 25,491.66 $ 25,1.58.75 $ 3,1377.93 331 American Express Corporate Bond 9/15/2017 1,000,000.00 1,007,980.00 1,005,232.00 733.33 1/2/2020 1.87% 5 (733.33) $ - $ 761.44 820 Treasury US Treasury Note 06/11/15 1,000,003.00 990,468.75 997,344.00 4/15/2018 1.09% $ 13,831.97 $ 22,291.07 $ 2,734.37 197 FHLB Gov. Agency 0e5entun 06/11/15 2,000,000.00 1,991,820.00 1,997,820.00 5/25/2018 1.19% $ 41,533.33 $ 48,836.51 $ 5,990.61 237 Treasury US Treasury Note 07/31/15 1,000,000.00 1,010,625.00 1,030,586.00 6/30/2018 1.00% $ 26,341.71 $ 19,386.29 $ 2,547.91 273 FFCB Gov. Agency Debentur. 07/30/15 2,500,000.00 2,509,525.00 2,499,355.00 12/18/2017 0.96% $ 52,968.75 $ 46,358.27 $ 6,084.11 79 FHLB Gov. Agency Debentur. 8/20/2015 1,250,000.00 1,247,075.00 1,247,800.00 7/25/2018 1.13% $ 25,666.67 $ 26,310.93 $ 3,559.71 298 FHLB Gov. Agency Debentur. 8/25/2015 1,000,000.00 999,500.00 998,200.00 7/25/2018 1.07% $ 20,387.50 $ 19,734.71 $ 2,689.77 298 Walmart Corporate Bond 9/25/2015 1,000,000.00 998,960.00 998,657.00 4/11/2018 1.17% 5 17,375.00 $ 20,570.26 $ 2,938.61 193 Disney Corporate Bond 9/25/2015 995,00000 995,298.50 994,711.45 12/1/2017 1.0916 $ 18,424.08 $ 19,070.28 $ 2,724.33 62 FFCB Gov. Agency Debentur, 10/27/2015 1,000,000.00 1,048,230.00 1,009,470.00 6/1/2018 0.86% $ 43,847.22 $ 14,973.77 $ 2,250.96 244 FHLB Gov. Agency Debentur. 10/27/2015 _ 1,000,000.00 1,005,030.00 997,357.00 9/14/2018 0.95% $ 21,156.25 $ 15,939.59 5 2,396.15 349 FFCB Gov. Agency Debentur, 10/29/2015 1,500,000.00 1,494,840.00 1,492,665.00 10/9/2018 0.99% 5 18,958.33 $ 24,860.21 5 3,749.41 374 Chevron Corporate Bond 12/15/2015 1,250,000.00 1,252,262.50 1,249,972.50 11/9/2017 1.25% $ 23,893.33 $ 24,080.64 $ 3,935.02 40 Treasury US Treasury Note 1/26/2016 1,500,000.00 1,494,902.34 1,497,187.50 2/28/2018 0.91% $ 17,925.82 $ 19,534.50 $ 3,449.47 151 Wells Fargo Corporate Bond 2/2/2016 1,003,000.00 1,001,680.00 1,000,809.00 1/22/2018 1.56% $ 24,612.50 5 22,036.28 $ 3,944.24 114 FHLMC Gov. Agency Debentur, 4/29/2016 1,000,000.00 1,008,0513.00 997,840.00 12/17/2018 1.04% $ 15,300.00 $ 12,220.02 $ 2,632.89 443 FFCB Gov. Agency Debentur, 4/29/2016 1,000,000.00 1,001,870.00 995,750.00 3/21/2019 1.0956 $ 16,175.56 5 12,814.27 5 2,760.92 537 FFCB Gov. Agency Debentur. 10/28/2016 1,000,000.00 997,507.00 988,250.00 10/17/2019 1.14% $ 4,929.17 $ 7,611.40 $ 2.858.16 747 FNMA Gov. Agency Debentur, 11/15/2016 1,500,000.00 1487,505.00 1,485,303.00 8/28/2019 1.31% $ 11,79166 $ 12,120.46 $ 4,912.26 697 FHLMC Gov. Agency Debentur, 3/14/2017 2,000,000.00 1,970,180.00 1,976,846.00 7/19/2019 1.52% $ 6,076.39 $ 8,936.03 $ 7,612.17 657 Freddie Mac Gov. Agency Debentur, 9/29/2017 1,000,000.00 998,900.00 997,620.00 6/29/2018 1.67% $ $ $ 48.55 272 JP Morgan Chase Corporate Bond 3/28/2017 1,400,000.00 1,393,196.00 1,394,859.20 8/23/2019 1.86% $ 11,229.17 $ 6,677.49 $ 6,535.41 692 US Treasury US Treasury Note 3/31/2017 1,000,000.00 1,004,218.75 1,001,172.00 - 3/31/2019 1.29% $ 7,500.00 $ 3,213.83 $ 3,249.14 547 FNMA Gov. Agency Debentur, 4/25/2017 1,000,030.00 1,013,390.00 1,006,650.00 2/7/2020 1.50% $ 5,666.67 $ 2,708.32 $ 3,831.00 860 PNC Bank Corporate Bond 4/4/2017 1,000,000.00 1,003,120.00 1,002,673.00 2/2/2019 1.29% $ 8,125.00 $ 4,242.21 $ 4,486.01 490 Treasury US Treasury Note 5/2/2017 500,000.00 503,339.84 501,426.00 6/30/2019 1.31% $ 1,324.24 $ 1,063.61 $ 1,658.51 638 Ptrsico Corporate Bond 5/15/2017 1,250,000.00 1,209,600.00 1,250,957.50 963.54 3/30/2020 1.31% $ (963.54) $ 2,931.91 $ 5,863.81 912 Pfiztr Corporate Bond 6/30/2017 1,000,000.00 1,002,280.00 999,468.00 708.33 12/15/2019 1.60% 5 (703.33) $ - $ 4,051.35 806 Treasury US Treasury Note 6/30/2017 1,000,000.00 1,002,148.44 1,000,000.00 2,486.41 10/31/2019 1.41% $ 12,486.41) $ - $ 3,549.10 761 Treasury US Treasury Note 6/30/2017 1,000,000.00 994,726.56 993,438.00 1/31/2020 1.46% $ 1,070.44 $ - $ 3.664.08 853 Subtotal $ 50.823.476.57 $ 50,665,215.80 $ 27,859.57 $ 663,718.54 $ 654,036.67 $ 134,355.95 BNY MM 87,196.63 87,196.63 0.0096 IAIF N/A 12/31/14 6,213,877.36 6,213,877.36 1.11% 11,230.99 $57,124,550.56 $56,966,289.79 $ 663,718.54 5 654,036.67 $ 145.586.93 Bank of the West Matured Assets Treasury 95 Treasury Note 06/09/15 1,000,000.00 1,004,140.63 9/15/2017 0.82% 5 22,663.04 5 16,846.70 5 1,724.99 FNMA Gov. Agency 0ebentur, 10/19/12 1,500,000.00 1,504,050.00 9/20/2017 0.94% 5 73,791.67 5 66,614.26 5 3,185.06 FNMA Gov. Agency Debentur, 11/30/12 1,030,000.00 1,003,200.00 9/20/2017 0.93% $ 48,055.56 $ 42,785.13 $ 2,097.06 FNMA Gov. Agency Debentun 12/04/12 1,000,000.00 1,002,750.00 9/20/2017 0.94% 5 47,916.67 $ 43,077.49 $ 2,117.72 FFCB Gov. Agency Debentur, 10/18/12 2,000,000.00 1,996,960.00 9/21/2017 0.86% $ 81,755.00 $ 80,942.48 $ 3,915.05 FHLMC Gov. Agency Debentur, 3/27/2017 1,003,000.00 999,750.00 9/27/2017 1.52% $ 8,750.00 $ 4,683.87 $ 4,388.05 Total Investments "Matured" $7,510,850.63 5 946,650.48 $ 908,986.61 $ 163,014.86 Maturity Profile 0.1 year 1.2 years 2-3 years 3-5 years Market to Cost Position Report Amount $29,340,061.09 $14,845,146.09 $12,939,343.38 $0.00 $57,124,550.56 Amortized Institution Cost BNY Assets $50,823,476.57 BNY MM 87,196.63 LAIF 6,213,877.36 Totals: $57,124,550.56 Page 5 Weighted Average YTM Portfolio Yield: Portfolio Balance Benchmarks/ References: Town's Average Yield LAIF Yield for month 3 mo. Treasury 6 mo. Treasury 2 yr. Treasury 5 yr. Treasury (most recent) 10 Yr. Treasury This Month $70,086,827 1.27% 1.08% 0.99% 1.08% 1.33% 1.70% 2.12% 2 - 3 years 25% Town of Los Gatos Summary Investment Information August 31, 2017 1.27% Weighted Average Maturity (days) 331 Last Month One year ago $71,205,721 $ 72, 070, 685 3 - 5 years 15% 1.26% 1.05% 1.08% 1.13% 1.35% 1.84% 2.30% Portfolio Maturity Profile 0.88% 0.57% 0.26% 0.35% 0.58% 0.99% 1.44% Compliance: The Town's investments are in compliance with the Town's investment policy dated May 16, 2017 and also in compliance with the requirements of Section 53601 of the California State Code. Based on the information available, the Town has sufficient funds to meet the cash demands for the next six months. Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances August 31, 2017 Fund Balances - Beginning of Month/Period Receipts Disbursements Fund Balances - End of Month/Period Portfolio Allocation: BNY MM US Treasury Notes Government Agency Debenture Notes Corporate Medium Term Bonds Local Agency Investment Fund Subtotal - Investments Reconciled Demand Deposit Balances Total Treasurer's Fund Month YTD $71,205,721.48 $75,983,998.32 2,608,945.94 4,247,371.54 (3,727,840.75) (10,144,543.19) $70,086,826.67 $70,086,826.67 $211,447.66 $8,004,570.31 $29,287,622.00 $13,363,543.51 6.213.877.36 57,081,060.84 13,005,765.83 $70,086,826.67 Portfolio Investment Allocation local Agency Investment Fund BNY MM 10.9% 0.37% Corporate Medium Term Bonds 23.4% 76,000,000 74,000,000 72,000,000 70,000,000 68,000,000 66,000,000 69,000,000 62,000,000 Treasurer's Fund Balances % of Portfolio Max. % $ Allowed Per State Law or Policy 0.37% 14.02% 51.31% 23.41% 10.89% 100.00% US Treasury Notes 14.02% 20% of Town Portfolio No Max. on US Treasuries No Max. on Non -Mortgage Backed 30%ofTown Portfolio $65M per State Law Government Agency Debenture Notes S1.31% page 2 Town of Los Gatos Non -Treasury Restricted Fund Balances August 31, 2017 Non -Treasury Funds: Cert. of Participation 2002 Series A Reserve Fund Cert. Of Participation 2002 Ser A Lease Pymt Fund Cert. of Participation 2002 Series A Const. Fund Total Restricted Funds: AUG 17 Previous Deposits Balance Realized Gain/Adj. $ 686,568.28 1,014,012.50 509,208.75 1,281,669.90 AUG 17 AUG 17 Interest Ending Withdrawals Balance $ 245.83 $ 686,814.11 Note 1 286.65 1,014,012.50 286.65 Note 1 72.24 509,208.75 72.24 Note 1 0.00 891.75 0.00 1,282,561.65 Note2 $ 3,491,459.43 $0.00 $1,496.47 $1,523,221.25 $1,969,734.65 These accounts are not part of the Treasurer's fund balances reported elsewhere in this report, as they are for separate and distinct entities. Note 1: The three original funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the next few years, reserve funds which will guarantee the payment of lease payments, and a third fund for the disbursement of lease payments and initial delivery costs. Note 2: The 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010. Page 3 Town of Los Gatos Statement of Interest Earned August 31, 2017 Interest by Month July 2017 August 2017 September 2017 October 2017 November 2017 December 2017 January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 $58,520.73 54,113.45 $112,634.18 Page 4 Town of Los Gatos Investment Schedule August 31, 2017 Maturity Yield to Interest Interest Interest Days Deposit Par Original Market Purchased Date or Maturity Received Earned Earned to Insttuton $ecur' Date Value 0.31 Value Interest Call Date or Call to Date Prior Yrs. Current FY 0. . Freddie Mac Gov. Agency Debentur, 08/01/16 1,000,000.00 1,005,560.00 996,725.00 4/15/2019 0.92% $ 7,187.50 $ 8,387.83 5 1,561.70 592 Toyota Motor Credit Corporate Bond 07/10/15 500,000.00 502,200.00 500,012.00 10/5/2017 1.05% $ 10,850.69 $ 10,406.77 $ 894.90 35 Toyota Motor Credit Corporate Bond 07/25/16 950,000.00 954,246.50 946,435.60 5/20/2019 1.24% $ 10,898.61 $ 10,985.92 5 2,003.32 627 FNMA Gov. Agency Debentur, 10/19/12 1,500,000.00 1,504,050.00 1,499,896.71 9/20/2017 0.94% $ 66,291.67 $ 66,614.26 $ 2,408.21 20 US Bancorp Corporate Bond 8/8/2016 1,000,000.00 1,019,550.00 1,004,837.00 10/15/2018 1.08% $ 15,004.17 $ 9,429.85 $ 1,793.41 410 Microsoft Corporate Bond 8/8/2016 1,000.000.00 999,470.00 992,884.00 8/8/2019 1.12% $ 11,000.00 $ 9,982.45 $ 1,898.50 707 FNMA Gov. Agency Debentun 11/30/12 1,000,000.00 1,003,200.00 999,931.14 9/20/2017 0.93% $ 43,055.56 $ 42,785.13 $ 1,585.58 20 FNMA Gov. Agency Debentur, 12/04/12 1,000,000.00 1,002,750.00 999,931.14 9/20/2017 0.94% $ 42,916.67 $ 43,077.49 $ 1,601.20 20 FFCB Gov. Agency Debentur, 10/18/12 2,000,000.00 1,996,960.00 1,999,760.00 9/21/2017 0.86% $ 73,455.00 5 80,942.48 $ 2,924.50 21 FHLB Gov. Agency Debentur, 12/12/12 2,000,000.00 1,998,720.00 1,998,052.00 12/8/2017 0.76% $ 66,083.33 5 69,427.17 $ 2,591.50 99 FNMA Gov. Agency Debentur, 04/17/13 1,000,000.00 1,000,400.00 999,340.00 3/5/2018 1.03% $ 43,687.50 5 43523.65 $ 1,757.96 186 AAPL Corporate Bond 05/16/13 1,000,000.00 991,680.01 997,550.00 5/3/2018 1.17% $ 39,638.89 $ 48,171.42 5 1,983.15 245 FHLB Gov. Agency Debentur 06/09/15 1,000,000.00 997,710.00 999,610.00 8/27/2018 1.22% 5 25,491.66 $ 25,358.75 $ 2,074.26 361 Treasury US Treasury Note 06/09/15 1,000,000.00 1,004,140.63 999,991.00 9/15/2017 0.82% 5 17,663.04 5 16,846.70 5 1,388.96 15 Treasury US Treasury Note 06/11/15 1,000,000.00 990,468.75 997,188.00 4/15/2018 1.09% $ 13,831.97 5 22,291.07 $ 1,842.73 227 FHLB Gov. Agency Debentur, 06/11/15 2,000,000.00 1,991,820.00 1,998,340.00 5/25/2018 L19% 5 41,533.33 $ 48,836.51 $ 4,037.15 267 Treasury US Treasury Note 07/31/15 1,000,000.00 1,010,625.00 1,001,094.00 6/30/2018 1.00% 5 26,341.71 $ 19,386.29 $ 1,717.07 303 FFCB Gov. Agency 13ebentur, 07/30/15 2,500,000.00 2,509,525.00 2,500,505.00 12/18/2017 0.96% $ 52,968.75 $ 46,358.27 $ 4,100.16 109 FHLB Gov. Agency Debentur, 8/20/2015 1,250,000.00 1,247,075.00 1,248,337.78 7/25/2018 1.13% $ 25,666.67 $ 26,310.93 5 2,398.94 328 FHLB Gov. Agency 0e5ent0r, 8/25/2015 1,000,000.00 999,500.00 998,670.22 7/25/2018 1.07% 5 20,387.50 $ 19,734.71 5 1,812.67 328 Warmart Corporate Bond 9/25/2015 1,000,000.00 998,960.00 998,465.00 4/11/2018 1.17% $ 17,375.00 $ 20,570.26 $ 1,980.37 223 Disney Corporate Bond 9/25/2015 995,000.00 995,298.50 994,461.71 12/1/2017 1.09% $ 18,424.08 5 19,070.28 $ 1,835.96 92 FFCB Gov. Agency 0eben5ur, 10/27/2015 1,000,000.00 1,048,230.00 1,011,160.00 6/1/2018 0.86% $ 43,847.22 $ 14,973.77 $ 1,516.95 274 FHLB 009. Agency Debentun 10/27/2015 1,000,000.00 1,005,030.00 998,363.00 9/14/2018 0.95% $ 15,531.25 $ 15,939.59 5 1,614.80 379 FFCB Gov. Agency 0e5e9603, 10/29/2015 1,500,000.00 1,494,840.00 1,492,995.00 10/9/2018 0.99% 5 18,958.33 $ 24,860.21 $ 2,526.78 404 Chevron Corporate Bond 12/15/2015 1,250,000.00 1,252,262.50 1,250,040.00 11/9/2017 1.25% $ 23,893. 33 5 24,080.64 $ 2,651.86 70 Treasury US Treasury Note 1/26/2016 1,500,000.00 1,490,902.34 1,497,070.50 2/28/2018 0.91% $ 17,925.82 5 19,534.50 $ 2,324.64 181 Wells Fargo Corporate Bond 2/2/2016 1,000,000.00 1,001,680.00 1,000,634.00 1/22/2018 1.56% $ 24,612.50 $ 22,036.28 $ 2,658.07 144 FHLMC Gov. Agency Debentun 4/29/2016 1,000,000.00 1,008,050.00 999,970.00 12/17/2018 1.04% 5 15,300.00 $ 12,220.02 5 1,774.34 473 FFCB Gov. Agency 0ebentur, 4/29/2016 1,000,000.00 1,001,870.00 997,670.00 3/21/2019 1.09% 5 10,375.56 $ 12,814.27 $ 1,860.62 567 FFCB Gov. Agency Debentur, 10/28/2016 1,000,000,00 997,507.00 990,700.00 10/17/2019 1.14% 5 4,929.17 5 7,611.40 $ 1,926.15 777 FNMA Gov. Agency Debentur, 11/15/2016 1,500,000.00 1,487,505.00 1488,225.00 8/28/2019 1.31% 5 11,79166 5 12,120.46 $ 3,310.44 727 FHLMC Gov. Agency Debentun 3/14/2017 2,000,000.00 1,970,180.00 1,981,296.00 7/19/2019 1.52% $ 6,076.39 $ 8,936.03 5 5,129.94 687 FHLMC Gov. Agency Debentun 3/27/2017 1,000,000.00 999,750.00 1,000,100.00 - 9/27/2017 1.52% $ - $ 4,683.87 $ 3,056.84 27 0Morgan Chase Corporate Bond 3/28/2017 1,400.000.00 1,393,196.00 1,398,952.80 320.83 8/23/2019 1.8650 5 (320.63) $ 6,677.49 5 4,404.30 722 US Treasury US Treasury Note 3/31/2017 1,000,000.00 1,004,218.75 1,003,203.00 - 3/31/2019 1.29% 5 • $ 3,213.83 $ 2,189.64 577 FNMA Gov. Agency Debentur, 4/25/2017 1,000,000.00 1,013,390.00 1,010,170.00 2/7/2020 1.50% 5 5,666.67 $ 2,748.32 5 2,581.76 890 PNC Bank Corporate Bond 4/4/2017 1,000,000.00 1,003,120.00 1,003,156.00 1,625.00 2/2/2019 1.2996 $ (1,625.00) $ 4,242.21 $ 3,023.18 520 Treasury US Treasury Note 5/2/2017 500,000.00 503,339.84 502,676.00 6/30/2019 1.31% $ 1,324.24 $ 1,063.61 $ 1,117.69 668 Papsico Corporate Bond 5/15/2017 1,250,000.00 1,249,600.00 1,255,487.50 963.54 3/30/2020 1.31% $ (963.54) $ 2,931.91 $ 3,951.70 942 PFira Corporate Bond 6/30/2017 1,000,000.00 1,002,280.00 1,002,317.00 708.33 12/15/2019 1.60% $ (708.33) $ - $ 2,730.25 836 Treasury US Treasury Note 6/30/2017 1,000,000.00 1,002,148.44 1,003,086.00 2,486.41 10/31/2019 1.41% $ (2,486.41) 5 - $ 2,391.79 791 Treasury 05 Treasury Note 6/30/2017 1,000,000.00 994,726.56 997,227.00 1/31/2020 1.46% $ 1,070.44 5 - 5 2,469.27 883 Subtotal 5 50,655,735.82 $ 50,556,516.11 5 6,104.11 5 884,951.77 $ 908,986.61 5 101,403.19 BNY MM 211,447.66 211,447.66 0.00% LAIF N/A 12/31/14 6,213,877.36 6,213,877.36 1.08% 11,230.99 Bank of the West Matured Assets Total Investments "Matured" Maturity Profile 0.1 year 1-2 years 2-3 years 3-5 years Market to Cost Position Report $57,081,060.84 556,981,841.13 $ 884,951.77 5 908,986.61 5 112,634.18 Amount 534,971,232.75 512,969,475.09 59,140,353.00 50.00 557,081,060.84 Amortized Institution Cost BNY Assets 550,655,735.82 BNY MM 211,447.66 LAIF 6,213477.36 Totals: $57,081,060.84 $ 884,951.77 $ 908,986.61 $ 112,634.18 Page 5 Town of Los Gatos Summary Investment Information July 31, 2017 Weighted Average YTM Portfolio Yield: 1.26% Weighted Average Maturity (days) 359 This Month Last Month One year ago Portfolio Balance $71,205,721 $75,983,998 $72,971,658 Benchmarks/ References: Town's Average Yield LAIF Yield for month 3 mo. Treasury 6 mo. Treasury 2 yr. Treasury 5 yr. Treasury (most recent) 10 Yr. Treasury 2-3years 25% 1.26% 1.05% 1.08% 1.13% 1.35% 1.84% 2.30% 3 - 5 years 15% 1.25% 0.98% 1.01% 1.13% 1.38% 1.89% 2.31% Portfolio Maturity Profile 0.86% 0.57% 0.26% 0.38% 0.68% 1.06% 1.50% 30% 0-1 year 30% Compliance: The Town's investments are in compliance with the Town's investment policy dated May 16, 2017 and also in compliance with the requirements of Section 53601 of the California State Code. Based on the information available, the Town has sufficient funds to meet the cash demands for the next six months. Page 1 Town of los Gatos Portfolio Allocation & Treasurer's Fund Balances July 31, 2017 Fund Balances Beginning of Month/Period Receipts Disbursements Fund Balances - End of Month/Period Portfolio Allocation: BNY MM US Treasury Notes Gov. Agency Debenture (Non -Mortgage Backed) Notes Corporate Medium Term Bonds Local Agency Investment Fund Subtotal - Investments Reconciled Demand Deposit Balances Total Treasurer's Fund Local Agency Investment Fund Corporate Medium Term Bonds 23.4% 76,000,000 74,000,000 72,000,000 70,000,000 68,000,000 66,000,090 64,000,000 62,000,000 60,0013,000 10.9% Month YTD $75,983,998.32 $75,983,998.32 1,638,425.60 1,638,425.60 (6,416,702.44) (6,416,702.441 $71,205,721.48 $71,205,721.48 $176,963.39 $8,004,570.31 $29,287,622.00 $13,363,543.51 6,213,877.36 57,046,576.57 14,159,144.91 $71,205,721.48 Portfolio Investment Allocation RNY AIM (131% Treasurer's Fund Balances % of Portfolio Max. % $ Allowed Per State Law or Policy 0.31% 14.03% 51.34% 23.43% 10.89% US Treasury Notes 14.03% 20% of Town Portfolio No Max. on US Treasuries No Max. on Non -Mortgage Backed 30%ofTown Portfolio $65M per State Law Gov. Agency Debenture (Non -Mortgage Backed) Notes 51.34% page 2 Town of Los Gatos Non -Treasury Restricted Fund Balances July 31, 2017 JULY17 JULY17 JULY17 Previous Deposits Ending Balance Realized Gain/Adi. Interest Withdrawals Balance Non -Treasury Funds: Cert. of Participation 2002 Series A Reserve Fund $ 686,374.80 $ 193.48 $ 686,568.28 Note 1 Cert. Of Participation 2002 Ser A Lease Pymt Fund 28.76 1,013,983.74 0.00 0.00 1,014,012.50 Note 1 Cert. of Participation 2002 Series A Const. Fund 175.72 509,033.01 0.02 0.00 509,208.75 Note 1 COP 2010 Library Reserve Fund 1,280,916.68 0.00 753.22 0.00 1,281,669.90 Note 2 Total Restricted Funds: $1,964,239.87 $1,523,016.75 $946.72 $0.00 $3,491,459.43 These accounts are not part of the Treasurer's fund balances reported elsewhere in this report, as they are for separate and distinct entities. Note 1: The three original funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the next few years, reserve funds which will guarantee the payment of lease payments, and a third fund for the disbursement of lease payments and initial delivery costs. Note 2: The 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010. Page 3 Town of Los Gatos Statement of Interest Earned July 31, 2017 Interest by Month July 2017 August 2017 September 2017 October 2017 November 2017 December 2017 January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 $58,520.73 $58,520.73 Page 4 Town of Los Gatos Investment Schedule July 31, 2017 Maturity Yield to Interest Interest Interest Days Deposit Par Original Market Purchased Date or Maturity Received Earned Earned to Institution Security Date Value Cost Value Interest Call Date or Call to Date Prior Yrs. Current FY Maturity Freddie Mac Gov. Agency Debentur, 08/01/16 1,000,000.00 1,005,560.00 996,078.00 4/15/2019 0.92% $ 7,187.50 $ 8,387.83 $ 780.85 623 Toyota Motor Credit Corporate Bond 07/10/15 500,000.00 502,200.00 499,973.50 10/5/2017 1.05% $ 10,850.69 $ 10,406.77 $ 447.45 66 Toyota Motor Credit Corporate Bond 07/25/16 950,000.00 954,246.50 947,078.75 5/20/2019 1.24% $ 10,898.61 $ 10,985.92 $ 1,001.66 658 FNMA Gov. Agency Debentur, 10/19/12 1,500,000.00 1,504,050.00 1,499,631.00 9/20/2017 0.94% $ 66,291.67 5 66,614.26 $ 1,204.11 51 US Bancorp Corporate Bond 8/8/2016 1,000,000.00 1,019,550.00 1,005,411.00 10/15/2018 1.08% $ 15,004.17 $ 9,429.85 $ 896.70 441 Microsoft Corporate Bond 8/8/2016 1,000,000.00 999,470.00 991,881.00 8/8/2019 1.12% $ 5,500.00 $ 9,982.45 $ 949.25 738 FNMA Gov. Agency 0ebentur, 11/30/12 1,000,000.00 1,003,200.00 999,754.00 9/20/2017 0.93% $ 43,055.56 $ 42,785.13 5 792.79 51 FNMA Gov. Agency Debentun 12/04/12 1,0a10,000.00 1,002,750.00 999,754.00 9/20/2017 0.94% $ 42,916.67 $ 43,077.49 $ 800.60 51 FFCB Gov. Agency 0ebentur, 10/18/12 2,000,000.00 1,996,960.00 1,999,200.00 9/21/2017 0.86% 5 73,455.00 5 80,942.48 S 1.462.25 52 FHLB Gov. Agency Debentun 12/12/12 2,000,000.00 1,998,720.00 1,996,620.00 12/8/2017 0.76% $ 66,083,33 $ 69,427.17 5 1,295.75 130 FNMA Gov. Agency Debentun 04/17/13 1,000,000.00 1,004,400.00 999,000.00 3/5/2018 1.03% 5 43,687.50 $ 43,523.65 $ 878.98 217 AAPL Corporate Bond 05/16/13 1,000,000.00 991,680.01 997,183.00 5/3/2018 1.17% $ 39,638.89 $ 48,171.42 $ 991.58 276 FHLB Gov. Agency Debentun 06/09/15 1,000,000.00 997,710.00 999,120.00 8/27/2018 1.2214 $ 19,741.66 $ 25,158.75 $ 1,037.13 392 Treasury US Treasury Note 06/09/15 1,000,000.00 1,004,140.63 999,934.00 9/15/2017 0.82% $ 17,663.04 5 16,846.70 $ 694.48 46 Treasury US Treasury Note 06/11/15 1,000,000.00 990,468.75 996,836,00 4/15/2018 1.09% $ 13,831.97 5 22,291.07 5 921.36 258 FHLB Gov. Agency 0eben1un, 06/11/15 2,000,000.00 1,991,820.00 1,997,640.00 5/25/2018 1.19% $ 41,533.33 $ 48,836.51 $ 2,018.58 298 Treasury US Treasury Note 07/31/15 1,000,000.00 1,010,625.00 1,001,172.00 6/30/2018 1.00% $ 26,341.71 5 19,386.29 $ 858.54 334 FFCB Gov. Agency Debentun, 07/30/15 2,500,000.00 2,509,525.00 2,500,660.00 12/18/2017 0.96% $ 52,968.75 $ 46,358.27 $ 2,050.08 140 FHLB Gov. Agency 0ebentun, 8/20/2015 1,250,000.00 1,247,075.00 1,247,712.50 7/25/2018 1.13% $ 25,666.67 $ 26,310.93 $ 1,199.47 359 FHLB Gov. Agency Debentun, 8/25/2015 1,000,000.00 999,500.00 998,170.00 7/25/2018 1.07% $ 20,387.50 $ 19,734.71 $ 906.33 359 Walmart Corporate Bond 9/25/2015 1,000,000.00 998,960.00 998,621.00 4/11/2018 1.17% $ 17,375.00 $ 20,570.26 5 990.18 254 Disney Corporate Bond 9/25/2015 995,000.00 995,298.50 994,441.81 12/1/2017 1.09% $ 18,424.08 $ 19,070.28 5 917.98 123 FFCB Gov. Agency 0ebentun, 10/27/2015 1,000,000.00 1,048,230.00 1,012,020.00 6/1/2018 0.86% $ 43,847.22 5 14,973.77 $ 758.48 305 FHLB Gov. Agency Debentun, 10/27/2015 1,000,000.00 1,005,030.00 997,860.00 9/14/2018 0.95% $ 15,531.25 $ 15,939.59 5 807.40 410 FFCB Gov. Agency Debentun 10/29/2015 1,500,000.00 1,494,840.00 1,493,105.00 10/9/2018 0.99% $ 18,958,33 $ 24,860.21 $ 1,263.39 435 Chevron Corporate Bond 12/15/2015 1,250,000.00 1,252,262.50 1,250,145.00 11/9/2017 1.25% $ 23,893.33 $ 24,080.64 5 1,325.93 101 Treasury US Treasury Note 1/26/2016 1,500,000.00 1,494,902.34 1A96,250,00 2/28/2018 0.91% $ 12,300.82 $ 19,534.50 5 1,162.32 212 Wells Fargo Corporate Bond 2/2/2016 1,000,000.00 1,001,680.00 1,001,030.00 1/22/2018 1.56% $ 24,612.50 $ 22,036.28 $ 1,329.04 175 FHLMC Gov. Agency Debentur, 4/29/2016 1,000,000.00 1,008,050.00 999,590.00 12/17/2018 1.04% $ 15,300.00 $ 12,220.02 5 887.17 504 FFCB Gov. Agency Debentur, 4/29/2016 1,000,000.00 1,001,870.00 997,100.00 3/21/2019 1.09% $ 10,375.56 5 12,814.27 $ 930.31 598 FFCB Gov. Agency 0e6en1ur, 10/28/2016 1,000,000.00 997,507.00 989,790.00 10/17/2019 1.14% $ 4,929.17 5 7,611.40 $ 963.08 808 FNMA Gov. Agency Debentun 11/15/2016 1,500,000.00 1,487,505.00 1,486,800.00 8/28/2019 1.31% 5 4,291.66 $ 12,120.46 $ 1,655.22 758 FHLMC Gov. Agency Debentur, 3/14/2017 2,000,000.00 1,970,180.00 1,979,536.00 7/19/2019 1.52% 5 6,076.39 $ 8,936.03 5 2,564.97 718 FHLMC Gov. Agency Debentur, 3/27/2017 1,000,000.00 999,750.00 1,000,060.00 9/27/2017 1.52% 5 - $ 4,683.87 5 1,528.42 58 1P Morgan Chase Corporate Bond 3/28/2017 1,400,000.00 1,393,196.00 1,394,860.60 320.83 8/23/2019 1.86% 5 (320.83) 5 6,677.49 $ 2,202.15 753 US Treasury US Treasury Note 3/31/2017 1,000,000.00 1,004,218.75 1,002,930.00 3/31/2019 1.29% $ $ 3,213.83 5 1,094.82 608 FNMA Gov. Agency 0e6e0100 4/25/2017 1,000,000.00 1,013,390.00 1,010,920.00 4,333.33 2/7/2020 1.50% $ 14,333.33) 5 2,748.32 $ 1,290.88 921 PNC Bank Corporate Bond 4/4/2017 1,000,000,00 1,003,120.00 1,003,169.00 1,625.00 2/2/2019 1.2996 $ (1,625.00) $ 4,242.21 $ 1,511.59 551 Treasury US Treasury Note 5/2/2017 500,000.00 503,339.84 502,578.00 6/30/2019 1.31% $ 1,324.24 $ 1,063.61 $ 558.85 699 Pyswcn Corporate Bond 5/15/2017 1,250,000.00 1,249,600.00 1,257,932.50 963.54 3/30/2020 1.31% $ (963.54) 5 2,931.91 $ 1,975.85 973 PBzsr Corporate Bond 6/30/2017 1,000,000.00 1,002,280.00 1,001,793.00 708.33 12/15/2019 1.60% $ (708.33) $ - $ 1,365.13 867 Treasury US Treasury Note 6/30/2017 1,000,000.00 1,002,148.44 1,002,656.00 2,486.41 10/31/2019 1.41% $ (2A86.41) $ - $ 1,195.89 822 Treasury US Treasury Note 6/30/2017 1,0 0,000.00 994,726.56 995,664.00 1/31/2020 1.46% 5 1,070.44 $ - $ 1,234.63 914 Subtotal $ 50,655,735.82 $ 50,541,760.66 $ 10,437.44 5 850,576.77 5 908,986.61 $ 50,701.60 BNY MM LANE N/A 12/31/14 176,963.39 176,963.39 6,213,877.36 6,213,877.36 Bank of the West Matured Assets 0.00% 1.05% 7,819.13 $57,046,576.57 $56,932,601.41 $ 850,576.77 $ 908,986.61 $ 58,520.73 Total Investments 'Matured" $0.00 5 850,576.77 $ 908,986.61 5 58,520.73 Maturity Profile 0 1 year 1-2 years 2-3 years 3-5 years Market to Cost Position Report Amount $33,939,038.48 512,967,715.09 510,139,823.00 $0.00 $57,046,576.57 Amortized Institution Cost BNY Assets $50,655,735.82 8NY MM 176,963.39 tAIF 6,213,877.36 Totals: $57.046,576.57 Page 5