2 - Fourth Quarter Investment Report for FY 2010/11MEETING DATE: 10/17/2011
ITEM NO: 2
COUNCIL AGENDA REPORT
DATE: OCTOBER 11, 2011
TO: MAYOR AND TOWN COUNCIL
FROM: GREG LARSON, TOWN MANAGER
SUBJECT: FOURTH QUARTER INVESTMENT REPORT FOR FY 2010/11 (APRIL THROUGH
JUNE 2011)
RECOMMENDATION:
Accept attached Fourth Quarter Investment Report for FY 2010/11.
DISCUSSION:
Attached for your consideration is the fourth quarter investment report for FY 2010/11.
The Town's overall investment rate of return has dropped during the current quarter from 1.72% to
1.46% as older investments have continued to mature. This rate continues to be higher than the current
LAIF rate of .45%.
The strategy for the foreseeable future continues to be to remain fairly short term and to invest mostly in
callable agency bonds in order to attempt to pick up a few basis points over non -callable agencies and
treasuries. The Town also attempts to find good solid corporate bonds when possible.
FISCAL IMPACT: None
Attachment:
Fourth Quarter Investment Report for FY 2010/11 (April through June 2011)
PREPARED BY:
ST�EE CONWAY
Finance & Administrative Services Director/ Town Treasurer
Reviewed by: r efr Assistant Town Manager A(,.
Town Attorney Finance
C:\Users\lseastroin\AppData\Local\Microsoft\WindowATemporary Interne des\Content.OutlookWUUPMKSY\Treasurer's Report - 4th Q (April -
June).doc
THIS PAGE
INTENTIONALLY
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Town of Los Gatos
Investment Report
for the month ended
June 30, 2011
Prepared by
Linda L. Speicher, Project Manager
10/08/11
Weighted Average Portfolio Yield:
TOR71 of Los Gatos
Summary Investment Information
June 30, 2011
1.46% Weighted Average Maturity (days) 449
This Month Last Month
Portfolio Balance $77,813,660 $77,080,960
Benchmarks/ References:
Town's Average Yield
LAIF Yield for month
3 rnc. Treasury
6 mo. Treasury
2 yr. Treasury
5 yr. Treasury (most recent)
Prime rate
1.46%
0.45%
0.03%
0.10%
0.40%
1.62%
3.25%
Most recent auctions of
Freddie Mac or Fannie Mae Reference Notes:
3 yr. Freddie Mac (06/02/11) 1.00%
2 yr. Fannie Mae (06/17/11) 0.58%
1.51%
0,41%
0.06%
0.12%
0.56%
1.81%
3.25%
One year aao
$73,918,288
1.92%
0.53%
0.16%
0.22%
0.74%
2.00%
3.25%
Compliance: The Town's investments are in compliance with the Town's investment policy dated May 1, 2008
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
June 30,2011
Fund Balances -
Receipts
Disbursements
Fi,md Balances -
Beginning of Month/Period
End of Month/Period
Portfolio Allocation:
Union MM
US Govt Agencies
Local Agency Investment Fund
Subtotal - Investments
Reconciled Demand Deposit Balances
Total Treasurer's Fund
Month
$77,080,960.19
4,346,197.51
(3,613,498.07)
$77,813,659.63
$2,590,158.28
43,520,541.94
14 051,261.87
60,161,962.09
17.651 697.54
$77,813,659.63
YTD
$73,918,287.52
51,677,115.60
(47,781,743.49)
$77,813,659.63
Portfolio Investment Allocation
Union MM
4.3%
agency TnvestmentFund?.
23 4%
Treasury, Agencies,
& Corp. Notes
57.8%
80,000,000 -
78,000,000
76,000,000
74,000,000
72,000,000
70,000 000
68,000,000 -
66,000,000 -
64,000,000 -
62,000,000 -
60,0 0,
0
0
0
Treasurer's Fund Balances
z
0
v.
page 2
Town of Los Gatos
Non -Treasury Restricted Fund Balances
June 30, 2011
Non -Treasury Funds:
Downtown Parking District 12/20/02
Certificates of Participation Reserve Fund (Lot 4)
Cert. of Participation Lease Payment Fund (Lot 4)
Cert. of Participation 2002 Series A Reserve Fund
Cert. Of Participation 2002 Series A Interest Fund
Cert. of Participation 2002 Series A Const. Fund
COP 2010 Library Reserve Fund
COP 2010 Library Lease Fund
COP 2010 Library ACQ Construction Fund
COP 2010 Library COI Fund
COP 2010 Library Good Faith
Total Restricted Funds:
Previous
Balance
$282,738.82
254,136.26
178,376.29
686,251.19
0.00
44,701.33
1,277,062.50
0.00
8,973,650.25
0.00
0.00
D�osits
21,124.58
Ending
Interest Withdrawals Balance
$175.30
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$282,914.12 Note t
254,136.26 Note
199,500.87 Note3
686,251.19 Note4
0.00 Note4
44,701.33 Note4
1,277,062.50 Notes
0.00 Notes
619,960.27 8,353,689.98 Notes
0.00 Notes
0.00 Note
$11 696,916.64
$21,124.58 $175.30
$619,960.27 $11,098,256.25
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: This account include redemption accounts set up for the repayment of interest and principal on outstanding
bond coupons for Parking Assessment District '3', as wetl as Reserve Funds set up as required by the original Bond resolution.
Note 2: The reserve fund was a requirement of the original certificates of participation agreement when Lot 4 was built. It helps
to guarantee payment of the lease payments should the Town not make payment.
Note 3: The lease payment fund receives the lease payments from the Town monthly for the lease of Lot 4. It holds the funds until
payments on the certificates of participation are due semi-annually.
Page 3
Town of Los Gatos
Statement of Interest Earned
June 30, 2011
Current Fiscal
Month Year to Date
Interest received from Investments $76,201.23 $1,030,834.83
Add: Interest accrued at end of period (see page 5) 142,698.38 142,698.38
Less: Interest accrued at beginning of period (182,413.71) (189,965.15)
Interest earned on investments $36,485.90 $983,568.06
Interest by Month
July 2010
August 2010
September 2010
October 2010
November 2010
December 2010
January 2011
February 2011
March 2011
April 2011
May 2011
June 2011
91,962.40
101,344.25
95,577.37
100,505.50
78,872.97
96,777.80
64,633.38
79,451.57
102,904.44
61,066.22
73,986.26
36,485.90
983,568.06
Page 4
Town of Los Gatos
Inactive Deposits by Institution
Market to Cost Position Report
June 30, 2011
Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest
Institution Security Date Cost Dale Elapsed Maturity Invested Maturity Earned Received Accrued
USTreasury Note 08/05/09 1,992,187.50 07/31/11 694 31 725 1.196% 45,303.11 29,673.91 15,629.20
Treasury Note 09/21/09 2,000,000.00 08/31/11 647 62 709 1.002% 35,522.96 28,839.78 6,683.18
USTreasury Note 10/19/06 990,078.13 09/30/11 1715 92 1607 4.721% 219,621.44 200,151.10 19,470.34
FFCB Coupon Note 12/12/07 2,025,080.00 11/21/11 1296 144 1440 4.000% 287,616.84 299,183.33 (11,566.49)
FFCB Coupon Note 02/22/07 986,080.00 12/08/11 1589 161 1750 4.959% 212,881.19 198,618.06 14,263.13
USTreasury Note 12/31/09 1,497,539.06 12/31/11 546 184 730 1.083% 24,260.87 22,500.00 1,760.87
FNMA Coupon Note 12/08/09 1,991,380.00 01/12/12 569 196 765 1.073% 33,309.90 19,152.78 14,157.12
FFCB Coupon Note 07/21/09 1,012,800.00 01/17/12 709 201 910 1.472% 28,959.09 29,777.78 (818.69)
FHLB Coupon Note 05/09/07 1,509,255.00 03/09/12 1513 253 1766 4.743% 296,730.24 287,500.00 9,230.24
USTreasury Note 04/15/10 999,375.00 03/31/12 441 275 716 1.054% 12,726.67 9,590.16 3,136.51
FFCB Coupon Note 04/23/10 1,500,585.00 04/16/12 433 291 724 1.174% 20,898.91 17,500.00 3,398.91
FHLB Coupon Note 11/29/07 2,038,360.00 08/15/12 1309 412 1721 4.170% 304,834.22 297,027.78 7,806.44
GE Corporate Note 01/16/08 1,542,165.00 10/19/12 1261 477 1738 4.587% 244,389.08 256,593.75 (12,204.67)
FFCB Coupon Note 11/10/10 1,498,830.00 11/09/12 232 498 730 0.541% 5,154.00 3,729.17 1,424.83
GE Corporate Note 07/29/10 511,955.00 01/08/13 336 558 894 1.791% 8,440.61 6,183.33 2,257.28
Treasury Coupon Note 03/31/11 1,997,968.75 03/31/13 91 640 731 0.676% 3,367.32 3,367.32
FHLMC Coupon Note 03/25/11 1,016,520.00 04/15/13 97 655 752 0.812% 2,193.57 902.78 1,290.79
FHLB Callable Note 07/29/10 1,506,480.00 07/12/13 336 743 1079 1.218% 16,891.07 9,508.33 7,382.74
TIAA Corporate Note 04/11/11 880,446.95 07/15/13 80 746 826 1.334% 2,574.28 2,574.28
FHLB Coupon Note 02/25/11 1,999,080.00 08/16/13 125 778 903 1.271% 8,701.47 8,701.47
FHLB Callable Note 06/27/11 2,500,000.00 09/27/13 3 820 823 0.699% 143.63 143.63
FHLMC Callable Note 08/18/10 1,252,400.00 11/18/13 316 872 1188 1.339% 14,518.37 8,750.00 5,768.37
FHLMC Callable Note 06/09/11 2,001,600.00 12/09/13 21 893 914 1.018% 1,172.33 1,172.33
FFCB Coupon Note 01/24/11 999,900.00 01/24/14 157 939 1096 1.393% 5,991.21 5,991.21
FHLMC Callable Note 05/26/11 1,000,000.00 11/26/14 35 1245 1280 2.263% 2,170.00 2,170.00
FHLB Callable Note 06/15/11 2,007,760.00 06/08/15 15 1439 1454 1.765% 1,456.31 1,456.31
FFCB Callable Note 06/09/11 1,998,500.00 06/09/15 21 1440 1461 1.721% 1,978.84 1,978.84
FNMA Coupon Note 11/10/10 1,503,225.00 09/16/15 232 1539 1771 0.955% 9,124.78 5,250.00 3,874.78
FHLMC Callable Note 10/28/10 750,000.00 10/28/15 245 1581 1826 2.100% 10,571.92 5,156.25 5,415.67
Subtotal 43,509,550.39
Union MM 2,590,158.28 30 30 0.05% 106.44 106.44
Purchased Interest 10,991.55
LAIF N/A 03/31/11 14,051,261.87 06/30/11 91 0 91 0.45% 16,675.98 16,675.98
$60,161,962.09 449 1.46% $1,878,286.67 $1,735,588.29 S142,698.38
Maturity Profile Amount Percent
0-1 year $33,156,771.39 55.11%
1-2 years S8,605,798.75 14.30%
2-3 years S11,139,906.95 18.52%
3-5 years S7,259,485.00 12.07%
$60,161,962.09 100.00%
Market to Cost Position Report
Amortized Market Unrealized
Institution Cost Value* Gain (Loss)
Union Bank Assets S43,509,550.39 $43,762,167.00 252,616.61
Union M91 2,590,158.28 2,590,158.28 0.00
Purchased Interest 10,991.55 10,991.55 0.00
LAW 14,051,261.87 14,051,261.87 0.00
Totals: S60,161,962.09 S60,414,578.70 $252,616.61
* Source: Treasury and Agency Obligations - Union Bank of California
LAIF balances per Local Agency Investment Fund monthly statement.
page 5
Town of Los Gatos
Investment Report
for the month ended
May 31, 2011
Prepared by
Linda L. Speicher, Project Manager
10/08/11
Weighted Average 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)
Prune rate
Town of Los Gatos
Summary Investment Information
May 31, 2011
1.51% Weighted Average Maturity (days) 425
This Month Last Month One year ago
$77,080,960 $76,816,244 $73,910,872
1.51%
0.41%
0.06%
0.12%
0.56%
1.81%
3.25%
Most recent auctions of
Freddie Mac or Fannie Mae Reference Notes:
3 yr. Fannie Mae (05/16/11) 1.17%
2 yr. Freddie Mac (02/04/11) 0.75%
1.56%
0.59%
0.07%
0.12%
0.67%
2.12%
3.25%
2.01%
0.56%
0.17%
0.22%
0.77%
2.13%
3.25%
Portfolio Maturity Profile
3 -5 years
0 -1 year
60 %
Compliance: The Town's investments are in compliance with the Town's investment policy dated May 1, 2008
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
May 31, 2011
Fluid Balances - Beginning of Month/Period
Receipts
Disbursements
Fund Balances - End of Month/Period
Portfolio Allocation:
Union MM
US Govt Agencies
Local Agency Investment Fund
Subtotal - Investments
Reconciled Demand Deposit Balances
Total Treasurers Fund
Month
$76,816,243.88
3,371,288.32
(3,106,572.01)
$77,080,960.19
$3,535,717.92
42,499,471.37
14.051.261.87
60,086,451.16
16,994,509.03
$77,080,960.19
YTD
$73,918,287.52
47,330,918.09
(44.168.245.421
$77,080,960.19
80,000,000 --"
78,000,000
76,000,000
74,000,000 f.
72,000,000 -
70,000,000 -4
62,000,000
66,000,000 -G
64,000,000 -<?.
62,000,000 -1
60,000,000
�+T
Portfolio Investment Allocation
Union MM
5.9%
-:' 23 4%....
Treasurer's Fund Balances
Treasury, Agencies,
& Corp. Notes
57.B%
page 2
Town of Los Gatos
Non -Treasury Restricted Fund Balances
May 31, 2011
Non -Treasury Funds:
Downtown Parking District 12/20/02
Certificates of Participation Reserve Fund (Lot 4)
Cert. of Participation Lease Payment Fund (Lot 4)
Cert. of Participation 2002 Series A Reserve Fund
Cert. Of Participation 2002 Series A Interest Fund
Cert. of Participation 2002 Series A Const. Fund
COP 2010 Library Reserve Fund
COP 2010 Library Lease Fund
COP 2010 Library ACQ Construction Fund
COP 2010 Library COI Fund
COP 2010 Library Good Faith
Total Restricted Funds:
Previous
Balance
$282,569.28
254,136.26
178,376.29
686,251.19
0.00
44,701.33
1,277,062.50
0.00
9,806,776.47
0.00
0.00
Deposits
Ending
Interest Withdrawals Balance
$169.54
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$282,738.82 Note t
254,136.26 Note
178,376.29 Note 3
686,251.19 Note
0.00 Note
44,701.33 Note 4
1,277,062.50 Note 5
0.00 Note
833,126.22 8,973,650.25 Notes
0.00 Notes
0.00 0.00 Note 6
12,529,873 32
$0.00 $169.54
$833,126.22 811,696,91664
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: This account include redemption accounts set up for the repayment of interest and principal on outstanding
bond coupons for Parking Assessment District '3', as well as Reserve Funds set up as required by the original Bond resolution.
Note 2: The reserve fund was a requirement of the original certificates of participation agreement when Lot 4 was built. It helps
to guarantee payment of the lease payments should the Town not make payment.
Note 3: The lease payment fund receives the lease payments from the Town monthly for the lease of Lot 4. It holds the funds until
payments on the certificates of participation are due semi-annually.
Page 3
Town of Los Gatos
Statement of Interest Earned
May 31, 2011
Current Fiscal
Month Year to Date
Interest received from Investments $49,923.22 $954,633.60
Add: Interest accrued at end of period (see page 5) 182,413.71 182,413.71
Less: Interest accrued at beginning of period (158,350.67) (189,965.15)
Interest earned on investments $73,986.26 $947,082.16
Interest by Month
July 2010
August 2010
September 2010
October 2010
November 2010
December 2010
January 2011
February 2011
March 2011
April 2011
May 2011
June2011
91,962.40
101,344.25
95,577.37
100,505.50
78,872.97
96,777.80
64,633.38
79,451.57
102,904.44
61,066.22
73,986.26
947,082.16
Page 4
Inslit Lion Security
Town of Los Gatos
Inactive Deposits by Institution
Market to Cost Position Report
May 31, 2011
Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest
Date Cost Date Elapsed Maturity Invested Maturity Earned Received Accmed
FHLB Coupon Note 06/08/09 1,988,018.60 06/03/11 722 3 725 1.432% 56,312.89 33,437.50 22,875.39
USTreasury Note 08/05/09 1,992,187.50 07/31/11 664 61 725 1.196% 43,344.76 29,673.91 13,670.85
Treasury Note 09/21/09 2,000,000.00 08/31/11 617 92 709 1.002% 33,875.84 28,839.78 5,036.06
USTreasury Note 10/19/06 990,078.13 09/30/11 1685 122 1807 4.721% 215,779.66 200,151.10 15,628.56
FFCB Coupon Note 12/12/07 2,025,080.00 11/21/11 1266 174 1440 4.000% 280,959.04 299,183.33 (18,224.29)
FFCB Coupon Note 02/22/07 986,080.00 12/08/11 1559 191 1750 4.959% 208,862.04 175,493.06 33,368.98
USTreasury Note 12/31/09 1,497,539.06 12/31/11 516 214 730 1.083% 22,927.86 15,000.00 7,927.86
FNMA Coupon Note 12/08/09 1,991,380.00 01/12/12 539 226 765 1.073% 31,553.66 19,152.78 12,400.88
FFCB Coupon Note 07/21/09 1,012,800.00 01/17/12 679 231 910 1.472% 27,733.74 29,777.78 (2,044.04)
FI-ILB Coupon Note 05/09/07 1,509,255.00 03/09/12 1483 283 1766 4.743% 290,846.63 287,500.00 3,346.63
USTreasury Note 04/15/10 999,375.00 03/31/12 411 305 716 1.054% 11,860.91 9,590.16 2,270.75
FFCB Coupon Note 04/23/10 1,500,585.00 04/16/12 403 321 724 1.174% 19,450.95 17,500.00 1,950.95
FBLB Coupon Note 11/29/07 2,038,360.00 08/15/12 1279 442 1721 4.170% 297,847.96 297,027.78 820.18
GE Corporate Note 01/16/08 1,542,165.00 10/19/12 1231 507 1738 4.587% 238,574.91 256,593.75 (18,018.84)
FFCB Coupon Note 11/10/10 1,498,830.00 11/09/12 202 528 730 0.541% 4,487.54 3,729.17 758.37
GE Corporate Note 07/29/10 511,955.00 01/08/13 306 588 894 1.791% 7,686.98 6,183.33 1,503.65
FIR -MC Coupon Note 11/22/10 999,750.00 03/07/13 190 646 836 0.962% 5,006.42 2,744.44 2,261.98
Treasury Coupon Note 03/31/11 1,997,968.75 03/31/13 61 670 731 0.676% 2,257.21 2,257.21
FIILMC Coupon Note 03/25/11 1,016,520.00 04/15/13 67 685 752 0.812% 1,515.14 902.78 612.36
FNMA Callable Note 06/11/10 1,500,000.00 06/10/13 354 741 1095 1.830% 26,622.74 7,458.33 19,164.41
FBLB Callable Note 07/29/10 1,506,480.00 07/12/13 306 773 1079 1.218% 15,382.94 9,508.33 5,874.61
TIAA Corporate Note 04/11/11 880,446.95 07/15/13 50 776 826 1.334% 1,608.93 1,608.93
FIILB Coupon Note 02/25/11 1,999,080.00 08/16/13 95 808 903 1.271% 6,613.12 6,613.12
FHLMC Callable Note 08/18/10 1,252,400.00 11/18/13 286 902 1188 1.339% 13,140.04 8,750.00 4,390.04
FFCB Coupon Note 01/24/11 999,900.00 01/24/14 127 969 1096 1.393% 4,846.39 4,846.39
FHLMC CallableNote 05/26/11 1,000,000.00 11/26/14 5 1275 1280 2.263% 310.00 310.00
FNMA Coupon Note 11/10/10 1,503,225.00 09/16/15 202 1569 1771 0.955% 7,944.85 5,250.00 2,694.85
FHLMC Callable Note 09/24/10 2,000,000.00 09/24/15 249 1577 1826 2.318% 31,626.41 12,500.00 19,126.41
FHLMC Callable Note 10/28/10 750,000.00 10/28/15 215 1611 1826 2.100% 9,277.40 5,156.25 4,121.15
FHLB Coupon Note 12/16/10 999,750.00 12/16/15 166 1660 1826 2.947% 13,399.44 13,399.44
Subtotal 42,489,208.99
Union Mlvl 3,535,717.92 30 30 0.05% 145.30
Purchased Interest 10,262.38
LAIF N/A 03/31/11 14,051,261.87 06/30/11 61 30 91 0.41% 11,715.56
145.30
11,715.56
$60,086,451.16
425 1.51% $1,943,517.27 S1,761,103.56 S182,413.71
Maturity Profile Amount Percent
0-1 year $36,089,620.46 60.06%
1-2 years S9,605,548.75 15.99%
2-3 years $8,138,306.95 13.54%
3-5 years $6,252,975.00 10.41%
S60,086,451.16 100.00%
Market to Cost Position Report
Amortized Market Unrealized
Institution Cost Value* Gain (Loss)
Union Bank Assets 542,489,208.99 S42,833,887.75 344,678.76
Union IvIM 3,535,717.92 3,535,717.92 0.00
Purchased Interest 10,262.38 10,262.38 0.00
LAIF 14,051,261.87 14,051,261.87 0.00
Totals: S60,086,451.16 S60,431,129.92 S344,678.76
* Source: Treasury and Agency Obligations - Union Bank of California
LAIF balances per Local Agency Investment Fund monthly statement.
page 5
Town of Los Gatos
Investment Report
for the month ended
April 30, 2011
Prepared by
Linda L. Speicher, Project Manager
10/08/11
Weighted Average 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)
Prime rate
Town of Los Gatos
Summary Investment Information
April 30, 2011
1.56% Weighted Average Maturity (days) 449
This Month Last Month One year ago
$76,816,244 $71,764,763 $76,501,897
1.56%
0.59%
0.07%
0.12%
0.67%
2.12%
3.25%
Most recent auctions of
Freddie Mac or Fannie Mae Reference Notes:
3 yr. Famue Mae (02/01/11)
2 yr. Freddie Mac (02/04/11)
1.27%
0.75%
1.72%
0.50%
0.10%
0.17%
0.79%
2.26%
3.25%
2.01%
0.55%
0.15%
0.24%
1.02%
2.54%
3.25%
Compliance: The Town's investments are in compliance with the Towns investment policy dated May 1, 2008
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
April 30, 2011
Fund Balances - Beginning of Month/Period
Receipts
Disbursements
Fund Balances - End of Month/Period
Portfolio Allocation:
Union MM
US Govt Agencies
Local Agency Investment Fund
Subtotal - Investments
Reconciled Demand Deposit Balances
Total Treasurer's Fund
Month YTD
$71,764,762.97 $73,918,287.52
8,525,565.02 43,959,629.77
(3,474,084.11) (41,061,673.41)
$76,816,243.88 $76,816,243.88
$2,732,987.49
43,253,007.83
14.051.261.87
60,037,257.19
16,778,986.69
$76,816,243.88
Portfolio Investment Allocation
Union MM
4.6%
Treasury, Agencies,
& Corp. Notes
57.8%
80.000,000
78,000,000
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
c
0
0
0
u
8
page 2
Town of Los Gatos
Non -Treasury Restricted Fund Balances
April 30, 2011
Non -Treasury Funds:
Downtown Parking District 12/20/02
Certificates of Participation Reserve Fund (Lot 4)
Cert. of Participation Lease Payment Fund (Lot 4)
Cert. of Participation 2002 Series A Reserve Fund
Cert. Of Participation 2002 Series A Interest Fund
Cert. of Participation 2002 Series A Const. Fund
COP 2010 Library Reserve Fund
COP 2010 Library Lease Fund
COP 2010 Library ACQ Construction Fund
COP 2010 Library COI Fund
COP 2010 Library Good Faith
Total Restricted Funds:
Previous
Balance
$282,394.20
254,136.26
157,251.71
686,251.19
0.00
58,870.51
1,277,062.50
0.00
10,417,162.28
0.00
0.00
$13,133,128 65
Deposits
21,124.58
$21,124.58
Ending
Interest Withdrawals Balance
$175.08
0.00
0.00
0.00
0.00
77.78
0.00
0.00
0.00
0.00
0.00
$252.86
14,246.96
610,385.81
$624,632.77
These accounts are not part of the Treasurers fund balances reported elsewhere in this report, as they are for separate and distinct
entities.
Note I: This account include redemption accounts set up for the repayment of interest and principal on outstanding
bond coupons for Parking Assessment District '3', as well as Reserve Funds set up as required by the original Bond resolution.
Note 2: The reserve fund was a requirement of the original certificates of participation agreement when Lot 4 was built. It helps
to guarantee payment of the lease payments should the Town not make payment.
Note 3: The lease payment fund receives the lease payments from the Town monthly for the lease of Lot 4. It holds the funds until
payments on the certificates of participation are due semi-annually.
$282,569.28
254,136.26
178,376 29
686,251.19
0.00
44,701.33
1,277,062.50
0.00
9,806,776.47
0.00
0.00
$12,529,873 32
Note 1
Note 2
Note 3
Note 4
Note 4
Note 4
Note s
Note 5
Note 5
Note 5
Note 6
Page 3
Town of Los Gatos
Statement of Interest Earned
April 30, 2011
Current Fiscal
Month Year to Date
Interest received from Investments $98,716.45 $904,710.38
Add: Interest accrued at end of period (see page 5) 158,350.67 158,350.67
Less: Interest accrued at beginning of period (196,000.90) (189,965.15)
Interest earned on investments $61,066.22 $873,095.90
Interest by Month
July 2010
August 2010
September 2010
October 2010
November 2010
December 2010
January 2011
February 2011
March 2011
April 2011
May 2011
June 2011
91,962.40
101,344.25
95,577.37
100,505.50
78,872.97
96,777.80
64,633.38
79,451.57
102,904.44
61,066.22
873,095.90
Page 4
Town of Los Gatos
Inactive Deposits by Institution
Market to Cost Position Report
April 30, 2011
Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest
Institution Security Date Cost Date Elapsed Maturity Invested Maturity Earned Received Accmed
Treasury Note 11/16/09 753,515.63 05/31/11 530 31 561 0.568% 6,214.75 6,813.52 (598.77)
FHLD Coupon Note 06/08/09 1,988,018.60 06/03/11 691 34 725 1.432% 53,895.02 33,437.50 20,457.52
USTreasury Note 08/05/09 1,992,187.50 07/31/11 633 92 725 1.196% 41,321.13 29,673.91 11,647.22
Treasury Note 09/21/09 2,000,000.00 08/31/11 586 123 709 1.002% 32,173.81 28,839.78 3,334.03
USTreasury Note 10/19/06 990,078.13 09/30/11 1654 153 1807 4.721% 211,809.83 200,151.10 11,658.73
FFCB Coupon Note 12/12/07 2,025,080.00 11/21/11 1235 205 1440 4.000% 274,079.32 255,683.33 18,395.99
FFCB Coupon Note 02/22/07 986,060.00 12/08/11 1528 222 1750 4.959% 204,708.91 175,493.06 29,215.85
USTreasury Note 12/31/09 1,497,539.06 12/31/11 485 245 730 1.083% 21,550.41 15,000.00 6,550.41
FNMA Coupon Note 12/08/09 1,991,380.00 01/12/12 508 257 765 1.073% 29,738.89 19,152.78 10,586.11
FFCB Coupon Note 07/21/09 1,012,800.00 01/17/12 648 262 910 1.472% 26,467.54 29,777.78 (3,310.24)
FHLB Coupon Note 05/09/07 1,509,255.00 03/09/12 1452 314 1766 4.743% 284,766.89 287,500.00 (2,733.11)
USTreasury Note 04/15/10 999,375.00 03/31/12 380 336 716 1.054% 10,966.29 9,590.16 1,376.13
FFCB Coupon Note 04/23/10 1,500,585.00 04/16/12 372 352 724 1.174% 17,954.73 17,500.00 454.73
FFD,B Coupon Note 11/29/07 2,038,360.00 08/15/12 1248 473 1721 4.170% 290,628.81 297,027.78 (6,398.97)
GE Corporate Note 01/16/08 1,542,165.00 10/19/12 1200 538 1738 4.587% 232,566.93 256,593.75 (24,026.82)
FFCB Coupon Note 11/10/10 1,498,830.00 11/09/12 171 559 730 0.541% 3,798.86 3,798.86
GE Corporate Note 07/29/10 511,955.00 01/08/13 275 619 894 1.791% 6,908.24 6,183.33 724.91
FFILMC Coupon Note 11/22/10 999,750.00 03/07/13 159 677 836 0.962% 4,189.58 2,744.44 1,445.14
Treasury Coupon Note 03/31/11 1,997,968.75 03/31/13 30 701 731 0.676% 1,110.10 1,110.10
FHLMC Coupon Note 03/25/11 1,016,520.00 04/15/13 36 716 752 0.812% 814.11 902.78 (88.67)
FNMA Callable Note 06/11/10 1,500,000.00 06/10/13 323 772 1095 1.830% 24,291.37 7,458.33 16,833.04
PHLB Callable Note 07/29/10 1,506,480.00 07/12/13 275 804 1079 1.218% 13,824.53 9,508.33 4,316.20
TIAA Corporate Note 04/11/11 880,446.95 07/15/13 19 807 826 1.334% 611.39 611.39
FBLB Coupon Note 02/25/11 1,999,080.00 08/16/13 64 839 903 1.271% 4,455.16 4,455.16
FHLMC Callable Note 08/18/10 1,252,400.00 11/18/13 255 933 1188 1.339% 11,715.77 8,750.00 2,965.77
FFCB Coupon Note 01/24/11 999,900.00 01/24/14 96 1000 1096 1.393% 3,663.41 3,663.41
PI-ILMC Callable Note 02/04/11 1,000,000.00 02/04/14 85 1011 1096 2.002% 4,662.19 4,662.19
FNMA Coupon Note 11/10/10 1,503,225.00 09/16/15 171 1600 1771 0.955% 6,725.59 5,250.00 1,475.59
FHLMC Callable Nate 09/24/10 2,000,000.00 D9/24/15 218 1608 1826 2.318% 27,688.99 12,500.00 15,188.99
FHLMC Callable Note 10/28/10 750,000.00 10/28/15 184 1642 1826 2.100% 7,939.73 5,156.25 2,783.48
FELE Coupon Note 12/16/10 999,750.00 12/16/15 135 1691 1826 2.947% 10,897.14 10,897.14
Subtotal 43,242,724.62
Union MN! 2,732,987.49 30 30 0.05% 112.31 112.31
Purchased Interest 10,283.21
LAIF N/A 03/31/11 14,051,261.87 06/30/11 30 61 91 0.59% 6,786.84 6,786.84
S60,037,257.19 449 1.56% $1,879,038.58 $1,720,687.91 S158,350.67
Maturity Profile Amount Percent
0-1 year $36,040,426.49 60.03%
1-2 years S9,605,548.75 16.00%
2-3 years S9,138,306.95 15.22%
3-5 years S5,252,975.00 8.75%
S60,037,257.19 100.00%
Market to Cost Position Report
Amortized Market Unrealized
Institution Cost Values Gain (Loss/
Union Bank Assets S43,242,724.62 S43,607,152.00 364,427.38
Union 1s41v1 2,732,987.49 2,732,987.49 0.00
Purchased Interest 10,283.21 10,283.21 0.00
LATE 14,051,261.87 14,051,261.87 0.00
Totals: S60,037,257.19 $60,401,684.57 S364,427.38
° Source: Treasury and Agency Obligations - Union Bank of California
LAIF balances per Local Agency Investment Fund monthly statement.
page 5