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04 Staff Report - Treasurer's Reports or July, 2004 DATE: COUNCIL AGENDA REPORT . September 1, 2004 MEETING DATE: 09/07/04 ITEM NO. Y TO: FROM: SUBJECT: 􀁍􀁁􀁙􀁏􀁒􀁁􀁎􀁄􀀱􀀰􀁗􀁎􀁃􀁏􀁕􀁎􀁃􀁾 LINDA LUBECK, TOWN TREASURER􀁾 TREASURER'S REPORTS FOR JULY, 2004 RECOMMENDATION: Accept reports as attached. DISCUSSION: Attached for your review and acceptance is the Treasurer's report for July, 2004. As had been· anticipated, the Fed raised the funds rate a quarter point each in July and again in August. With each raise, the prime rate also went up an equal amount. The bond markets have reacted by slightly increasing rates of return on new issues, although the five year treasury is declining since investors do not want to place money out that long in an increasing rate market. Overall, the Town's rate ofreturn increased slightly during the month ofJuly. During the month of August two older investments matured and were replaced with five new investments. The Treasurer's report for August will detail these transactions. ENVIRONMENTAL ASSESSMENT: Is not a project defined defined under CEQA, and no further action is required. FISCAL IMPACT: None Attachments: Treasurer's reports dated September 1,2004. PREPARED BY: Linda L. Lnbeck, Town TreasurerY Reviewed by:. 􀁾􀁔􀁯􀁷􀁮 Manager yg')Assistant Town Manager tlVTown Attorney ,__􀁃􀁬􀁥􀁲􀁫􀁾􀁩􀁮􀁡􀁮􀁣􀁥__Com munity Development Revised: 9/1/04 3:11 pm Distribution: Town CounciOown Manager; Finance Director Reformatted: 5/30/02 1II 􀁄􀁩􀁳􀁴􀁲􀁩􀁾􀁵􀁴􀁩􀁯􀁮􀀺 Town Clerk Town Manager Town Council Meeting date: September 7, 2004 Item No: .Town of Los Gatos Treasurer's Report for the month ended July 31, 2004 Submitted September 1,2Y04 by Linda L. Lubeck Town of Los Gatos Portfolio Allocation & Treasuer's Fund Balances July 31,2004 Fund Balances -Beginning ofMonthlPeriod Receipts Disbursements Fund Balances -End ofMonthlPeriod Portfolio Allocation: SEICash US Govt Agencies Local Agency Investment Fund Subtotal-Investnlents Reconciled Demand Deposit Balances Total Treasurer's Fund Month $52,146,172.75 1,843,200.84 (3,406,342.53) $50,583,031.06 433,252.30 33,762,002.24 14,142,375.83 48,337,630.37 2,245,400.69 $50,583,031.06 YTD $52,146,172.75 1,843,200.84 (3,406,342.53) $50,583,031.06 1II $54,000,000 $53,000,000 $52,000,000 $51,000,000 $50,000,000 $49,000,000 $48,000,000 $47,000,000 $46,000,000 ,$45,000,000 $44,000,000 'o" -" 􀁾 Portfolio Investment Allocation SEI Cash 0.9% Local Agency Investment Fund 29.3% Treasurer's Fund Balances Town of Los Gatos Statement of Interest Earned July 31, 2004 Current Fiscal Mmrth Year to Date Interest received from Investments 93,860.05 93,860.05 Add: Interest accrued at end of period (see page 5) 99,570.35 99,570.35 Less: Interest accrued at beginning of period (92,466.06) (92,466.06) Interest earned on investments $100,964.34 $100,964.34 Page 4 1 ' SEI Investments Account Market to Cost Position Report July 31,2004 Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest 􀁾Institution Security Date Cost Date Elapsed Maturity Invested Maturity Earned Received Accrued FFCB Coupon Note 06127/03 550,000.00 09/27/04 400 58 458 1.000% 6,027.40 4,125.00 1,902.40 FHLB Coupon Note 06130/03 514,715.00 ll/15/04 397 107 504 1.208% 6,762.88 14,765.62 (8,002.74) FHLMC Coupon Note 06125/03 556,316.41 01/15/05 402 168 570 1.130% 6,923.62 10,885.46 (3,961.84) FHLMC Coupon Note 06127/03 660,697.66 02115/05 400 199 599 1.359% 9,839.87 15,583.97 (5,744.10) FHLB Coupon Note 06126/03 665,362.50 04115/05 401 258 659 1.064% 7,777.70 8,609.79 (832.09) FHLB Coupon Note 06/23/03 552,634.50 05/13/05 404 286 690 1.220% 7,462.53 7,356.25 106.28 FHLMC Coupon Note 06130/03 663,493.36 06/15/05 397 319 716 1.482% 10,695.04 25,659.37 (14,964.33) FHLB Coupon Note 06124/03 672,743.50 08/15/05 403 380 783 1.335% 9,916.15 12,512.50 (2,596.35) FHLB Coupon Note 06124/03 683,345.00 ll/15/05 403 472 875 1.432% 10,804.26 21,009.90 (10,205.64) FHLMC Coupon Note 06/30/03 651,562.50 01115/06 397 533 930 1.771% 12,550.83 32,812.50 (20,261.67) FFCB Coupon Note 06125/03 666,809.00 03/15/06 402 592 994 1.523% 11,184.96 11,736.11 (551.15) FHLMC 􀁃􀁯􀁵􀁰􀁯􀁮􀁎􀁾􀁴􀁥 06/25/03 664,117.19 04/15/06 402 623 1025 1.576% 11,527.47 12,435.76 (908.29) ·FNMA Coupon Note 06127/03 504,090.00 04128/06 400 636 1036 2.315% 12,788.69 10,973.96 1,814.73 FHLB Coupon Note 06124/03 . 658,677.50 05115/06 403 653 1056 1.625% 11,817.85 12,316.15 (498.30) FHLMC :. Coupon Note 06127/03 500,930.00 06/02106 400 671 1071 2.076% 11,396.50 4,628.47 6,768.03 FHLMC Coupon Note 06130/03 387,296.88 07/15/06 397 714 1111 1.872% 7,885.83 20,052.08 (12,166.25) FNMA Coupon Note 06/10/04 297,213.00 08/ll/06 51 741 792 3.177% 1,319.36 1,319.36 FHLB Coupon Note 06130/03 400,000.00 09129/06 397 790 1187 2.200% 9,571.51 8,080.00 1,491.51 FHLB Coupon Note 06124/03 688,076.80 11115/06 403 837 1240 1.825% 13,864.75 23,540.00 (9,675.25) FFCB Coupon Note 06125/03 660,954.00 12119/06 402 871 1273 1.844% 13,423.49 28,762.50 (15,339.01) FHLB Coupon Note 06130/03 400,000.00 12/29/06 397 881 1278 2.225% 9,680.27 .8,900.00 780.27 FHLMC Coupon Note 06125/03 662,652.00 03/15/07 402 957 1359 1.946% 14,202.39 21,125.00 (6,922.61) FNMA Coupon Note '06130/03 333,597.66 04/15/07 397 988 1385 . 2.150% 7,801.16 12,468.75 (4,667.59) FHLMC MTN Coupon Note 06127/03 402,556.00 05129/07 400 1032 1432 2.808% 12,387.70 11,033.33 1,354.37 FNMA Coupon Note 06130/03 375,219.60 07/15/07 397 1079 1476 2.359% 9,627.45 15,494.79 (5,867.34) FNMA Coupon Note 06/10/04 296,331.00 10/15/07 51 1171 1222 3.863% 1,599.48 1,599.48 FHLB Coupon Note 06124/03 672,825.60 ll/15/07 403 . 1202 1605 2.257% 16,766.65 19,973.33 (3,206.68) FNMA Coupon Note 06124103 299,475.00 12/24/07 403 1241 1644 2.528% 8,358.91 7,500.00 858.91 FNMA Coupon Note 06/27/03 649,785.94 01115/08 400 1263 1663 2.492% 17,745.39 '21,498.50 (3,753.11) FHLMC Coupon Note 06/26/03 657,396.09 03/15/08 401 401 1323 1724 2.294% 16,568.07 12,761.08 . 3,806.99 FHLB Coupon Note 06130/03 286,162.50 04/15/08 397 1354 1751 2.633% 8,195.23 11,637.50 (3,442.27) FHLB Coupon Note 06/26/03 661,764.30 05113108 401 1382 1783 2.507% 18,226.75 30,340.86 (12,1l4.11) FHLMC MTN Coupon Note 06/30/03 228,298.00 06113/08 397 1413 1810 2.894% 7,186.18 6,026.32 1,159.86 FHLMC Coupon Note 06/24/03. 500,000.00 06/18/08 403 1418 1821 2.750% 15,181.51 13,750.00 1,431.51 18,025,098.49 739 1.907% 357,067.83 478,354.85 (121,287.02) Cash 433,252.30 7,027.42 6,630.95 396.47 Purchased Int 4,331:25 364,095.25 484,985.80 (120,890.55) 18,462,682.04