03 Staff Report - Treasurer's Report July 2005tpW N aF
DiVI'E
TO:
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a
September [4,'2005
M- FIT OPJ Qj~tvm-lh 0512W
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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
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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
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Uenchmarks/ Re€erenees:
Town's e tcE ~;~ta
19
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L~ ;
i,ATF Yiet(i for norm,
0S, /0
2.9-1
mo. Tie:asury
3 12' c
3.7 5''
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6 mn, Treasury
3.66°;'a ,
s`ra
4,74
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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
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