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03 Staff Report - Treasurer's Report July 2005tpW N aF DiVI'E TO: 3ll~ T a September [4,'2005 M- FIT OPJ Qj~tvm-lh 0512W 1 TRIE~1.,C`+RER'S RLF'()I2T;PJR.:iCtL~"?t7d). R-HCOMNIEi\rLa, TIN: , Ncccnt report as attaclt_ecl. a .Q ISCC<SS:E0IN: Attache.c7 oz' your r-cvic,Sv and acceptant-c s J-icTNasLR si-rcp -rrf4jA.h4L!1, ` 0(ji P.t-imc rerrtainetT at 0.22 -5'76,, Treasurer Is fun(i5 dzereased,.5T1igWu1,;: tcm M- 6',4," '-Lk- m~ crall'. perform mce of the fiends colitinucs Wjncrea,so x litt.!'OOacL.Ir iontli'.. ID Upon carJul c=onsideration, the'Tiefsurer notified 5~1~I+ilk'e,simc ~"t'~r~~~~+arslt'l~a~rthriTourr,r~ets 7TZ-vF5tng 'its 30 cla~~ terztunatioti n~tic~rr for the. thirxl ~art~~ inv~strrler~t`~<Tnt~~:Gt!~4it1>.'Sl✓I~u~;estrrrents~ T1ie;~rst;d'~r};~ of tl e co ntr,tct is r.rl~ecteci to bo approxjmatelti' f Jetc~l?Lr~'~{i~~ ? )k)51, f' nr1F#t;rnuir ttii~riEC f;tl'r~!! ~Nrc: rtTe-nf~ .tf e entire principal balance held in trust at SRI l approxiikratel<< S -w!: )fmillaon j.i iYl.bc~,rl'ransTcrrzdff-ONE e~ mv;-I's trust account with Ijulcn Bank. Bey.Muse L~~:~~trn~zrt~K[di7tir~iSt'zr'~b~5~~-~S~rr Crist!lmrvL he? ito'mtttuntti the Town sustained nolosses to the p~iz pal,~;aitre~G'or iia o t), can'tlE ;asset l,l el~};i i:tti Town's trust account with SEI. 4 . a • Th:; deterrnincition to terminate the contract was ciTrc:Urixrt~ral};'tc~~ttt;i't;ke isr~Te.Y~s~cietur~~intitic~lt:tttar~rt€; interest yields to the Tv,vn LAA,,r fees charged by SFTNurcjozta suft£ic t t cil~;ttsti~fy+ tlle,Ca ts;, ~ ai'sr.tz fit bclw"'cs that sin-Oary'ields canld be: achWved by thetTr4tt.sr7~~`,~~off'c~;,,<rzxil~t'dc~t~ ~j"4r~~~I;3'ry~;tr~t'rxt nip .advice, is iicudcd in the future, alternative third party~K v sursrstl,6:asA°W,1,X ctzrtl`c ~rvvr:3 .~s rnil'<a - advisory scrvic;es to the, Treasurer on an as ncecled ba'si5gtut','ati4.wu~sttifftiiM LI16,47., iIc-ost!. For note, (he, Treasurer wit1 b riz~i~inothe irw~5trnent dee.is~cTp~,a~-~ra~z~iir~;~h~ ~;l 81" 'gIrnilli6minr irm4 stnTe.ntsformerl~ ac'_roinistered bv SE-1 that will Entrk. 'If the Tre~rsure 's offico Micvc:s it ~~'oulc(,~ier eliUYr~a,xi,tli~ s i f: iri:a1'r xtrati :e:nnvustrr~~tt~t'a ' scirf EPr~kC1 BY: Unda T.: Lubeck, Toy=gin Treasttr~~ Reviewed by: To -n -Manager Assistant 7~),wn.) nat cri wn' Attoc4r n(~vF Clerk ,Financ'orrrrzrtrr>it~~D'~ el`c~~~rrt Y.exi ~3:ta;,il:/r5 1't?;(tUl aTr~ .l~istributic~n:'Tu~~z;'C«uz~c;i1~'~1'o~irr Viana~~r;,~~ra~tc,e;I?.:urecfoi-~ ~i'~etotti~attect: ~13f)i0? • b ;;Lech as _NTBLA in tilt: future, tie Treasurer will tiring 11'-z;r~ti3mriieY+cJ~3t~iJHi~i~~,~~<i~},~<~~tiitr for its r(, iew and apprn"al. ENS-IZONAIEMAL ASSESSNIE-NTH • • y Is not a pro'ocI ci incd under CEQ,,., a LISCA31 I -PAU': None gaCbrTleTItSjreasuver~ s reports datedA-aa-s 9.29005~, Tc • ~ G • • • • ~r i, r A ir m' RS 3, L - i h P 3 7 9 iv 4 V it i v l d , e Town: ref-;os! Gatost Siirmn ary In~esttenttThfaru~at>rt ' Weighted Average E14-u-t3'olio Yield: ;2.96°to y' ~4ei ;~~tec~; ~~'etara,{~~t(tutit~~fd 3vs~. This ~Nlontli Last Ni onth Ong-s;c<;r.-a Portfolio Mance $16_3 11 '210 $57,531,2'-L ttS; tr/r ~ 1 .s Uenchmarks/ Re€erenees: Town's e tcE ~;~ta 19 '.8> L~ ; i,ATF Yiet(i for norm, 0S, /0 2.9-1 mo. Tie:asury 3 12' c 3.7 5'' ~ rid %c,f 6 mn, Treasury 3.66°;'a , s`ra 4,74 yr. Treasury (nn t ri :cYt 97 3 TI 3 t(}6fot PI ime. rate 6,)5`k 6.251;%c ? ~°r Nlost recent auctions oe Freddie Mae or Fannie INTac Reference Notes: ~ 3 }F. Fnnme M."te (0,6/24/05) X1)2 G yr. Frcddic Nlac. (,J 7/12(()-5)~ 4J0,4,1 y4~:s ® Portfolio NIa€nrit~l"~ Afel aT. f. s ' n 585, ~ II ( omptionce: The °Town*s imz2strrwws are: in curnp iuave w tll_the'~°otivr~Ra;i~.~'~es~:rt~e~i[,pa~lic-y- compliance, with dic regquuvmcnts of Section 53601 of thce Cali€omm S~3tctC ~!j'~, i3,as ~1;gr~ICltt.'in#a~jiiauou;ti;3ilifiTe:,tfie Tgi n~iT~ sufficient hind 1c in el the cash chawands r tii ncx* six munihs. ,Pty^uti Town of I,us Gatos ;Portfolio Mlocation &'Prv.asarer's Lund l4ul'aiicest July 31, 2005 Turd Ert}:incc F rgiun c o of A~ ,tlihi ET ric d ;>57' ~bil'. 9 (i } ~.1, • i;ce;,tpts ~ (',~,tjl's1~;I'.?6i ~ P;7(3,~,~13,~•'?6~ Disbursements J r'.1~ ]f 7t til'l' ltij'S ~.3Cl5.'A , Funct Batnll-'es - End of vton?hlYer c 1, x ~5(~ 5U 1'; (1A0:' ® ~q 3EtT 2`1'4]1-~~ Portfolio Allocati-vt: SEI Casa 6'10;606A(i OS Govt A ~encit,: r local Agcncy Ins es~m~_3~i} i~nd l T~?.8`,~1~?] t~ suh:otal - inve tmrr;is t3?Ul 8: 1 Rccoacikd Doro tnd Dc~pomtl aRmcns .a.t}• IVIX`l'.1-4 Fur;d ~~6 3{3I',? 0:. It i Z'T~ •TS~er's 1°+~rrd~it1'~rie~~. c, ~2WO )Jl0 sr l~ n 3 t U,}( I1~~ 's t r { ~ fOAS 1 ` r ~ 'k Y p~ ~ 10 y 4 L ! s<yvr160ro ~ i z ~ ?k ~ ~ ~ s ,k t ~ ~t ~ ~ fi x. hl.~ M1 , `v t t fn F .r ~ ~ S ~ , l R 3 ~ 4 ~t _ J ! 21 Ile i 1 UW TI OP Aill,~ ~iAYi~~ ~ n ~ 1Vurt_-Trea-siirti Uestraefcd Fund 13n1ani;FS' MY 3 L 3wH- ~ fir: vioas. m~ ~ndi~ttf, i`Ion-Tta_rsnr} Fm~a~~: ~ 'St Y.'} Dowt:toi, t ~a, n L'S!s:r ct 32,? LVZ e 2i4,WM7 2°iNY1i>~ sl 1 tc t~ crtiliccte_ cf k'tW i-:ip.aio3i Re: r.r. r~nci T;u4i Zii;J(',' it of I'M P v, i a M Pa} pert Fall cLet 1? I JuC t _ I xI 1x31 t 331 was- ~C.t c_ts._...:pitto..?{-~lSrrts -~(_on~. Hand. ?_f,y,Cr!7~.i3 ~'_',9. 4Y.4F1 2;2ti~bECCt?. ?~~e~c4. C:_,_ of PL pit wi 24 Arws:l lte r'tw Fund R IV52 1~i3 :x, ~ ►:;;Y JYA,`rti:43L t x17;4• 4-i~n. Of tact i-udon 2,D12 rt4 Alnfarest Faced X70 f 113 81 Cam DfLlalui. *or 29L, Ssri AODI vuj g 7 h se a~ca::rts are rto-(!art o; thi Tremv IN AMY wp, n d ;1emon in 4 ~S~ePni ti t' they ar ~;t~e~ia, a,~t„1.P,uzs~ix `L • CtiLlieS. Note is 1 t:n ~~ccw,t in Icde rsdrrtT 3c 1 - intm_! aet -,p foc c,'_,A°r~.:;tLa .irCl~t o'~ ouf;[aadiri<i For;ti cuupor~ for Yur~~t~ t1 r;, ,sr r _ Y D .t.7u ~ ' . as wD as Rer ew FuMs set up s r...Tr t:e< 0 1tt'u or1 [n ~1:I3 iit ~5ohitii~ NoEe 2: 1 h :,ene fun!. was n requare,.n rit = ihaui i-::d Ce ti#:ca_es ,>f ta_~cipat en •~;eenven(/ a en Lne; ~w:3s LiA: To L1,.r,+.S,![ c PP MO Of the ),ea Y d,Ff27L' ~t~ Stiooid 1114 ~J a~;t Il~3[ n It t: p:6~9 tlcit Nate 3: T ,c _ k 1tn!r r fend _eceiver= t9Va Izase p ;n-e ~~,frnni the Tn::n incn $tij#o~~tTie le,tse',o1 i~oi,~ , G~ is d iedan~ unto. the rcrnhrates of niriCipuuo:r ,--e du scni-aw.gadly. ~ :V 61e Ta,~thrC'1 t117dti IOP Cht, (:btLilCLtt1. Oi 1'dr`3 Jd~t1~Il i~)~}4~ S~'7c5 :4 Cp11;7.1 ~jSf;CwltlSt[R: CJ b.l4Uil~ti ,11L,_i~V.~ll.,~f., ('X~netl ilr,~,~O~NFy'~FC~ j P.CV '31A IGSC..C-fUnd} V :~_}1 wit i '_,JgCfL'Y(,.C Cie pad -,Ile'I)t 0 T , Q°. ~~~i,1 1~r1,G, X111(; L~i1il}:1IL'i,~fOF~tTtc~.S~t;C`_3~l[iC 17.S ~e,1 a~77rCCItY) 3lu 1::IL`c1 "}.'i[iCP.' Cost's. I S s ~ e_ soma b laugh PAW n C't k 4 A o- o- P e 4 ~ P 3. 9 f e P B' ce ~ m a '1'a,rn ni Las C%ates IMWO Ir U,puslts, by Lstitutiti nf ,M.F IkA (A Cnst 1'oyhGsn FOplsrtj .m My 37., 21705 L7;xu.a UepnSls hj Iro2ilnlimt If x:Sa ,'.zed `damn~s L rx; . Ia n>' U1 .1 t 'i~-~ n ~ m r n1 + ~c_,r,~ 'n r,.,rt., ~J:~:1 Piz. ~•l. ~ r~a,;~'1 t _ .:.i; , iv,ri'ir r _,tp ~r a~ ~r.N-:~, fL''• :.irk OF C, f-1 '(X), .,.'-l:~ asa l+~, F"~~`! Us'oI zts.: YUS d) rt u.891 itiR:nA t: ,?7f li J JT5 i3~ C,27 FN%Irs. Cc, nNwx 1-,3 ..t t iG_C:Yi I!/f. ' 4 d7J 8l1 tZV,E7JLY 7 HLA C.tiup nt /iti"7•s ~,.G(i V--'ft 1 .T.S }HIIM.4 Dr--K tide tNj:i -._.3 0.. 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"J' h15 4 rul 3 5 ~ ,Z 9s t,. ~ ',i.f9i 3, mHl f - Cmgr Nnrs rllc -._F,_ 1.;ki 24 : ;7? %A l .ZL%I ,Z f ( sir LS!1.~.Zi.(.:. 7 rk[i1 74 i ur•1i-. 07!0j !G; .y.t 13f;i,-o W,L 5571 ~'.„7s )';f, ,3.9 9 r ~;.i r IL° n,n li;,D m - _ ~._?1>v"Y :4~' s~q 107~"i z >L 0,W t r Penh tpt-1{rJ rn: nc,t, IH 7 Q9 ~L - ` [ 1•.. ?t tt it ~ ~.4 5 lac xs X95:1 n Ar c ,.s.t ;6Ur Y°7 .L~;.G 't3k ~'r 4~7.6?tf!-3`j Pt, chi .J .:T_ ad ~;v t r;ls Y 1 i'-.47 15 \iniurity R~ufik Atso~.:~ s,:_a; 5.;~" 3a a ~2, Fl nti3,4 k, If r:;. R7arWt C-i Pq,o M `g t' ON) ICS( o, (A ti7?° Ft 11,!4 Dix. i.t-, 99,4c 3 7. C'HON Iii L-r H~ ) F,I: i F;• 1h C;. ur .a i . gllaIX-; 1.5(i ~ Y+t,~,H( `t I j r 63t00fI q lc .Cti: r 4T•7. (k;1~ 1 fiD 37,iLfl . .,U.ll 1':71_:. _ : tvn_C x )b f r 3').Cnl Y~() '].O.s., t ~_:`;!7C3~ - FIIlf G^ .uVa:c s.ti2? ) ..d R,fMa &n ,(Ich" It~a'T ('q ~'0 rZY,.1;1 on,Aoi'.: 7+7J 3%o :p;11,7jEt(;~J jr (r,C.r'?tt' Ir.,Zir.}C<~ a .1 T-F~u w n 7 _x_40 tr N...!;:5~ ~ ~ 155 hf~ s, ,n ba.• 4 t r, k! 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Cu ,L1 - N,, t~ kHs,mc uu t itin!c p,} ~ CB Cnutpn.yQ}~ .,<<U: PHIlv1C C< u(r,=n Lfotm IICt 5/0~. F?,l,"C Z (ornon FHIX f- t~mglGcvB t /7',ti3 F111::7C Coeporr `ot- JcL~f{l3. FNA5A C-a ,.J, rote 11/ T-HL.H C6ur_n Not, F}fLitilC Cnu:ort N,t~ !021-11? C5 F C`E foul , irl1-N11' Cr,rn vCL; [51Y3 r Ol ri G c J 3r 1, .3 IF,HL,AIC'AT:=O C ,lpxN11:1, 3 FX!.iA Co,ipt n N(,0 „d 31dci 111L B C m")o,,P,`, -"4rC3 FINNI;A Qe1,.ntN-t, 41-r~iG; Tii1J..\iC t~ n/;prv Nn,'e (i-:, _.,n.. ',FiII C.ujrir_N~tr ~ hh;vti5 PHF..h GtF n Of, FL1U, IC, t A f ti t J11, „..~'~tr, Lh y1i03 FN11:IC f'~u~>ti:\atc rk,!_J.n;iS IN V, N, Fi~t':J1 J.Ifl.j: ~}[F .Ii17,ly'9 FNN1?. nlltbRNntG r,t?9)qJ5 PF L K' Cc o~, ;v"tr :ll,, LC I`'~'cd:\ ouf:c❑ \cttc !ILl;€13 ~LII~fC G, Cw.a w1-;,Gs FI-IL;.7C _ L t~, u~:`7c,Ie l SIFk;;75 '.I'rrc?ssn~ d,l SEl IgvC~uhnenf~ Accinint Alarkd to Cmt Position }24p4ro J,,k 31„1,t105 r; r,]r:3z:;J L~L li;;wil f LtC 2 ~l ,48i.1 , h"?. .3.501 19q. 1 9 211 45,. v!.5] 1%A.>17:J7 6j,5o2 cG[..L1,;x7 fiG;.t2"' 19 °S)4,1 tr Lr` 1 ~5, ts!2 6,8.6,_r-50 ,~3 00 387._ :6-RE 3 ) ~~H7 ~ x;14:1 A "'X t9 :?56.60 331 55 4:,7. 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H ~ . I , X1 J14 <'l - d~.4?E`_+ I i3t., b)_7n1 .,4 K OF _li+ 1(1351 -3~_'7 :1.!.'•'.,~! e~;1..17?J-331 (1C~ ]~F~'. ?r:1 rr' tS, za'~~L ;,r iue' z?€,J. r'* ~ ,.~sl _y;r r•-'mfr 4:1!11 h3' -ki *Z/7~'s , .'_[vt3 flb• ~A 0. Y5 1 1%Z-) 1,1.(1 9SBL UY, X37 1 ' 1 ?'u9( ' c_1 ,I 71!Iuu11(N• I 4 tFit Jr~+ L +1 , t ` 5a t l ' { r, r,1 1 l SL yk, _M it Tt:i 7 , 51 7. ?2{ dl ,5~ 1311, 1' 51 3:4't2L 1 ;'i 314 °2 , 5G1 , 5(]: :?1 3yw e+,6 fL ' ! 3 `9K,I at~c;6; `35L c <'rf " 71 ',)`A t, 1., 2.33[ ~S?j1 12051 1 !r".2; •6'',,., :A`7or";j 3 t'i r, 57"M a,33 rr 58 otrr'd 9L i37~} r5 1 ; i ,•'i;C:!:el ~.!'+.15~;1;1 !~1")~. i2~ (pi_43L r` ~ " i 4931 lf; 1. r y_l'^,1 x.274:I l 16, i }:i~+i 'tbSiX +tA;31',.1 7''?'-rFul +,lcra:7~1 '~t:;()91 ~ -1 A ®a