1°W" o MEETING DATE: 05/28/13
ITEM NO:
to'a�'os COUNCIL AGENDA REPORT
DATE: May 14, 2013
TO: MAYOR AND TOWN COUNCIL
FROM: GREG LARSON, TOWN MANAGER ;k57
SUBJECT: FY 2012/13 QUARTERLY INVESTMENT REPORT (JANUARY THROUGH
MARCH 2013)
RECOMMENDATION:
Accept the attached Third Quarter Investment Report for FY 2012/13.
DISCUSSION:
Attached for your consideration is the Third Quarter Investment Report for FY 2012/13.
The Town's overall investment rate of return continues to inch down, although it is fairly stable at
around .7 %. This is better than LAIF or Treasuries. No rise in interest rates is expected for a couple of
years.
Overall, the Treasurer's Funds are now approximately $65,800,000, having increased due to many
factors.
FISCAL IMPACT:
None
Attachment:
Third Quarter Investment Report for FY 2012/13 (January through March 2013)
PREPARED BY: STEVE CONWAY
Finance & Administrative Services Director/ Town reasurer�
Reviewed by: Assistant Town Manager Town Attorney Finance
N:\ MStaff Reports\201 ATreasurer's Report - Q23 2012 2013.doe
THIS PAGE
INTENTIONALLY
LEFT BLANK
Town of Los Gatos
Quarterly investment Report
(Month Ended March 31, 2013)
Prepared by
Linda L, Speicher, Project Manager
05/09/13
Most recent auctions of
Freddie Mae or Fannie Mae Reference Notes:
3 yr. Freddie Mae (03/07/13) 0.50'%
Note: Both Fannie and Freddie have ceased offering 2 year notes for the time being.
3 - 5 years
511 %0
Portfolio Maturity Profile
- 3 years
15%
0 . 1 year
...29%
1 - 2 years
6%
889
Compliance: The Town's investments' re 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
Summary
Investment Information
March 31, 2013
Weighted Average Portfolio Yield:
0.70%
Weighted Average Maturih, (days)
This Month
Last Month
One year ago
Portfolio Balance
$65,767,353
$65,115,506
$75,348,154
Benchmarks/ References:
Town's Average Yield
0.70%
0.70%
0.96/0
LAIF Yield for month
0.29%
0.29%
0.38%
3 mo. Treasury
0.08%
0.13%
0.09%
6 mo. Treasury
0.11%
0.14%
0.15%
2 yr. Treasury
0.26%
0.26%
0.34%
5 yr. Treasury (most recent)
0.76%
0.78%
1.04%
Prime rate
3.25%
3.25%
3.25°/0
Most recent auctions of
Freddie Mae or Fannie Mae Reference Notes:
3 yr. Freddie Mae (03/07/13) 0.50'%
Note: Both Fannie and Freddie have ceased offering 2 year notes for the time being.
3 - 5 years
511 %0
Portfolio Maturity Profile
- 3 years
15%
0 . 1 year
...29%
1 - 2 years
6%
889
Compliance: The Town's investments' re 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
March 31, 2013
Month
YTD
Fund Balances - Begimiing of Montll/Peliod
$65,115,50615
$75,558,782.33
Receipts
3,224,080.17
29,022,247.32
Disbursements
(2,572,232,95)
(38.813.676.28
Fund Balances - End of Month/Period
$65,767,353.37
$65,767,353.37
Portfolio Allocation:
BNY MM
$158,245.30
US Govt Agencies
47,142,216.06
Local Agency hivestment Fund
10,142921,69
Subtotal - Investments
57,443,383.05
Reconciled Demand Deposit Balances
8,323970.32
Total Treasurer's Fund
$65,767,353.37
Portfolio Investment Allocation
BNY MM
0.28%
Local Agency Investment Fund
Treasurer's Fund Balances
'US Govt Agencies
82.07%
............................... ...............................
page 2
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 includes 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 4: 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 find for the disbursement of lease payments
and initial delivery costs.
Note 5: The 2010 COP Funds tire 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 wns closed in September 2010.
Page 3
Town of Los Gatos
Nun - Treasury
Restricted Fund Balances
March 31, 2013
Previous
Ending
Balance Deposits
Interest
Withdrawals
Balance
Non - Treasury Funds:
Downtown Parking District 12/20/02
$286,036.70
$0.00
$286,036.70
Note t
Cert. of Participation 2002 Series A Reserve Fund
686,251.19
5.28
5.28
686,251.19
Note 4
Cert. Of Participation 2002 Ser A Lease Pymt Fund
0.00
0.00
0.00
Note 4
Cert. of Participation 2002 Series A Coast. Fund
42,590.36
0,00
42,590.36
Note 4
COP 2010 Library Reserve Fund
1,277,062.50
0.01
0.01
1,277,062.50
Note 5
COP 2010 Library Lease Fund
0.00
0.00
0.00
Note 5
COP 2010 Library ACQ Construction Fund
0.00
0,00
0.00
Note 5
COP 2010 Library COI Fund
0,00
0.00
0.00
Note 5
COP 2010 Library Good Faith
0.00
0.00
0.00
Note 5
Total Restricted Funds:
$2,291,940.75 $0.00
$5.29
$5.29
$2.291.940.75
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 includes 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 4: 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 find for the disbursement of lease payments
and initial delivery costs.
Note 5: The 2010 COP Funds tire 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 wns closed in September 2010.
Page 3
Interest received from Investments
Interest accrued /(prepaid) at end of period (see page 5)
Interest accrued /(prepaid) at beginning of period
Interest earned on investments
Town of Los Gatos
Statement of Interest Earned
March 31, 2013
Interest by Month
July 2012
August 2012
September 2012
October 2012
November 2012
December 2012
.January 2013
February 2013
March 2013
April 2013
May 2013
June 2013
Page 4
Current
Month
32,922.80
- 96,953.61
- 97,948.63
$33,917.82
$50,686.03
40,230.09
41,243.95
35,819.67
37,215.67
36,101.46
32,134.20
30,813.78
33,917.82
Fiscal
Year to Date
432,547.86
- 96,953.61
$338,162.67
Market to Cost Position Report
Town of Los Gatos
Amortized
Market
Unrealized " Source: Treasury and Agency Obligations - Union Bank of California
Institution
Cost
Value*
Gain (Loss) LAW balances per Local Agency Investment Fund monthly statement.
BNY Assets
$47,133,356.33
$46,926,160.50
Inactive Deposits by Institution
BNY 1\41\4
158,245.30
158,245.30
0.1.10
Purchased Interest
8,859.73
8,859.73
0.00
LAIF
10,142,921.69
Market
to Cost Position Report
'totals:
$57,443,383.05
$57,236,187.22
- $207,195.83
March 31, 2013
Deposit
Amortized
Maturity
Days
Days to
Days
Yield to
interest
Interest
Interest
Institution
Security
Date
Cost
DDate Elapse
Ivlaturity
Invested
Maturity
Earned
Received
Accrued
Treasury
Coupon Note
03/31/11
1,997;968.75
03/31/13
731
I'I
731
(1).9OI%
32.(151.31
22.51111.011
9,551.31
Fl-ILh4C
Coupon Note
03/25111
1,016,520,00
04 /15/13
737
15
752
0.812%
16,666.58
25.277.78
(8.611.211)
NY Life
Corporate Note
07 /22/11
534,350.00
05/09/13
618
39
657
0.791%
7,156.45
311,160.42
(23,003.97)
TIAA
Corporate Note
04/11/11
880,446.95
07/15/13
720
106
826
1.334%
23,168.54
71,047.62
(47,879.08)
NY Life
Coupon Note
01/25/12
2,041,1.100.00
12/13/13
431
257
688
(053%
18.147.73
32,683.33
(14.535.60)
FI-ILMC
Coupon Note
09/16/11
2,026,080.00
08/20/14
562
507
1069
0.527%
16,440.33
28,555.55
(12,115.22)
FNMA
Coupon Note
10/117/11
1,296,875.00
02/18/15
541
689
1230
0.866%
16,646.40
34,1)97.22
(17,450.82)
FWA
Callable Note
04/23/12
1,513,470.00
114/23/15
342
753
1095
0.946%
13,415.23
9,375.00
4.040.23
FHLB
Coupon Note
01 /25/13
2,511,725.00
04/30/15
65
760
825
0.278%
1,243.48
1.243.48
Treasury
Note
08 /16/11
1,042,812.50
07/31/15
593
852
1445
0.652%
11,046.27
25.489.13
(14.442.86)
FNMA
Callable Note
09/09/11
2,000,()()O.O(:)
09/09/15
569
892
1461
1.()1111%
31,178.09
30,11011.110
1.178.08
FNMA
Callable Note
12/20/12
500,260.00
11/06/15
11:)1
950
1051
0,473 %,
654.76
654.76
Berk Hath
Coupon Note
01 /26/12
1,315,137.50
12/15/15
430
989
1419
1,1177%
16,686.39
27,137.15
(11).4511.76)
FNMA
Callable Note
04/1.14/12
2 ,002,500.(.10
04 /04/16
361
1100
1461
1.058%
20.954.27
111,91111.011
1(1,(154,27
FI -1LMC
Callable Note
08/15/12
2,010,200.00
05/16/16
228
1142
1370
0.861%
10,811.46
5.1155.56
5.755.911
FHLMC
Callable Note
08 /16/12
1,OO5,01:1O.O0
05/16/16
227
1142
1369
0.864%
5.400.24
2.500,00
2.9110.24
FNN4A
Callable Note
06 /29/12
2,1.105,700.00
05/23/16
275
1149
1424
11,81.10:,("
111189.15
7.11(111,1)11
5.1)89.15
IBM
Coupon Note
11/13/12
782,505.00
07/22/16
138
1209
1347
11,75 %
2.239.59
2,803.12
(563.53)
Treasury
Note
08 /16/11
1,025,390.63
07/31/16
593
1218
1811
0.973%
16,209.29
21,847.83
(5.638.54)
SO
Coupon Note
12/18/12
526,(120.00
10/15/16
103
1294
1397
0.962 %
1,427.98
1.427.98
FFILMC
Callable Note
12/20/12
1,009;900.00
03/28/17
101
1458
1559
0.470%
1,313.42
3,402.78
(2,089.36)
FNMA
Callable Note
05/25/12
3,033,660.00
05/03/17
310
1494
1804
1.512%
38,957.18
23,041.67
15,915.51
Berk I-Iath
Coupon Note
01 /11/13
509,280.00
05/15/17
79
1506
1585
1.162%
1,280.85
1,2811.85
FHLMC
Callable Note
06/08/12
2,007,7110.00
06/06/17
296
1528
1824
1.120%
18,235.42
11,866.67
6368.75
FHLMC
Callable Note
06/28/12
2,507,250,00
06 /14/17
276
1536
1812
0.139%
2,635.29
13.833.33
(11.198.04)
FHLNIC
Callable Note
01 /11/13
2,525,925.00
08/14/17
79
1597
1676
0.244%
1,333.97
4,583.33
(3,249.36)
FNMA
Callable Note
10/19/12
1,504,050.00
09/20/17
163
1634
1797
(1.707%
4,748.72
6.291.617
(1.542.95)
FNMA
Callable Note
11/30/12
1,003,200.00
09/20/17
121
1634
1755
11.604%
101:)8.71
3,055.56
(1,046.85)
FNMA
Callable Note
12/04/12
1,002,750.00
09/20/17
117
1634
1751
11.652%
2,095.72
2.916.67
(820.95)
FF'CB
Coupon Note
10/18/12
1,996,960.00
09/21/17
164
1635
1799
0,862%
7,734.42
7,() 55.011
679.42
FFILB
Coupon Note
12/12/12
1,998,720.00
12/08/17
109
1713
1822
0,751%
4,482.55
4.482.55
Subtotal
47,133,356.33
BNY MM
158,245.30
31:1
31:1
0.00%
(:1.00
0,00
Purchased Interest
8,859.73
LAIF
N/A
12/31/12
10,142,921.69
03/31/13
90
0
90
0.29%
7,1162.99
7,1162.99
$57,443,383,05
889
0,70%
$365,522.78
$462,476.39
($96,953.61)
Maturity Profile
Amount
Percent
0 -1 year
$16,780,312.42
29.21%
1 -2 years
$3,322,955.00
5.78%
2 -3 years
$8,883,4(15.0(1
15.46%
3 -5 years
$28,456,710,63
49.54%
$57,443,383.05
1(10,0(1%
Market to Cost Position Report
Amortized
Market
Unrealized " Source: Treasury and Agency Obligations - Union Bank of California
Institution
Cost
Value*
Gain (Loss) LAW balances per Local Agency Investment Fund monthly statement.
BNY Assets
$47,133,356.33
$46,926,160.50
(207,195.83)
BNY 1\41\4
158,245.30
158,245.30
0.1.10
Purchased Interest
8,859.73
8,859.73
0.00
LAIF
10,142,921.69
10,142,921.69
0;00
'totals:
$57,443,383.05
$57,236,187.22
- $207,195.83
page 5
Town of Los Gatos
Quarterly investment Report
(Month Ended February 28, 2013)
Prepared by
Linda L. Speicher, Project Manager
05/09/13
Town of Los Gatos
Summary Investment Information
February 28, 2013
Weighted Average Portfolio Yield: 0.70% Weighted Average Maturity (days)
This Mouth Last Month O_ ne year ago
Portfolio Balance $65 ,115,506 $64,278,682 $76,097,919
Benchmarks/ References:
Town's Average Yield
0.70%
0.70%
1.06%
LAM Yield for month
0.29%
0.30 %„
0.39%
3 mo. Treasury
0.13%
0.08%
0.12%
6 me. Treasury
0.14%
0.11%
0.15'%
2 yr. Treasury
0.26%
0.29%
0.34%
5 yr. Treasury (most recent)
0.78 %
0.89%
0.90%
Prime rate
3.25%
3.25%
3.25%
Most recent auctions of
Freddie Mac or Fannie Mae Reference Notes:
3 yr. Fannie Mae (02/15/13) 0.54%
Note: Both Fannie and Freddie have ceased offering 2 year notes for the time being.
3 - 5 years
50%
Portfolio Maturity Profile
..................... ........
0 - 1 Year
29%
- 3 years
15%
1 - 2 years
6%
920
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
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
58,000;000
N
N
w
Town of Los Gatos
Portfolio Allocation & Treasurer's Fund Balances
February 28, 2013
Fund Balances - Beginning of Month/Period
Receipts
Disbursements
Fund Balances - End of Month/Period
Portfolio Allocation:
BNY MM
US Govt Agencies
Local Agency Investment Fund
Subtotal - Investments
Reconciled Demand Deposit Balances
Total Treasurer's Fund
Month
YTD
$64,278,681.52
$75,558,782.33
3,250,851,67
25,798j 67.15
(2,414,027,04)
(36,241,443.33)
$65,115,506.15
$65,115,506.15
$116,195.30
47,151,544.38
10,142,921.69
57,410,661.37
7,704;844.78
$65,115,506.15
Portfolio Investment Allocation
BNY MM
0.20%
Local Agency Investment Fund
US Govt Agencies
82.13%
Treasurer's Fund Balances
N N N N N N N N N Ci rn r�
LL 7 y O ~ N
page 2
These accounts are not pail of the Treasurer's land balances repotted elsewhere in this report, as they are for separate and distinct
entities.
Note l: This account includes redemption accounts set up for the repayment of interest and principal on outstanding
bond coupons for Parking Assessntenl District 'T, as well as Reserve Funds set up as required by the original Bond resolution.
Note 4: The three original funds for the Certificates of Participation 2002 Series A consist ofconstruction funds which will be expended over the
next few years, reserve foods which will guarantee the payment of lease payments, and a third fund for the disbursement of' lease payments
and initial delivery costs.
Note 5: The 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and n lease payment fund 11or the
life of the COP issue. The COI land was closed in September 2016; ' ;
Page 3
Town of Los Gatos
Non - Treasury
Restricted Fund Balances
February 28, 2013
Previous
Ending
Balance Deposits
Interest
Withdrawals
Balance
Non - Treasury Funds:
Downtown Parking District 12/20102
$286,036.70
$0.00
$286,036.70
Note. t
Celt. of Participation 2002 Series A Reserve Fund
686,251.19
5.85
5.85
686,251.19
Note 4
Cell. Of Participation 2002 Ser A Lease Pymt Fund
199,426,25
0.00
199 426.25
0.00
Now 4
Ceti, of Participation 2002 Series A Coast. Fund
42,590.36
0.00
42,590,36
Note 4
COP 2010 Library Reserve Fund
1,277,062.50
0.29
0.29
1,277,062.50
NateS
COP 2010 Library Lease Fund
300,412,50
0.00
300;412.50
0.00
Note 5
COP 2010 Library ACQ Construction Fund
0.00
0.00
0.00
Note 5
COP 2010 Library COI Fund
0.00
0.00
0.00
Note 5
COP 2010 Library Good Faith
0.00
0.00
0.00
Note 5
Total Restricted Funds:
$2,791,779.50 $0.00
$6.14
$499,844.89
$2,291,940.75
These accounts are not pail of the Treasurer's land balances repotted elsewhere in this report, as they are for separate and distinct
entities.
Note l: This account includes redemption accounts set up for the repayment of interest and principal on outstanding
bond coupons for Parking Assessntenl District 'T, as well as Reserve Funds set up as required by the original Bond resolution.
Note 4: The three original funds for the Certificates of Participation 2002 Series A consist ofconstruction funds which will be expended over the
next few years, reserve foods which will guarantee the payment of lease payments, and a third fund for the disbursement of' lease payments
and initial delivery costs.
Note 5: The 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and n lease payment fund 11or the
life of the COP issue. The COI land was closed in September 2016; ' ;
Page 3
Interest received from Investments
Interest accrued /(prepaid) at end of period (see page 5)
Interest accrued /(prepaid) at beginning of period
Interest earned on investments
Town of Los Gatos
Statement of Interest Earned
February 28, 2013
Interest by Month
July 2012
August 2012
September 2012
October 2012
November 2012
December 2012
January 2013
February 2013
March 2013
April 2013
May 2013
June 2013
Page 4
Current
Fiscal
Month
Year to Date
27,254.22
399,625.06
- 97,948.63 - 97,948.63
- 101,508.19 - 2,568.42
$30,813.78 $304,244.85
$50,686.03
40,230.09
41,243.95
35,819.67
37,21 5.67
36,101,46
32,134.20
30,813.78
$304,244.85
Maturity Prolile
Amount
Percent
0 -1 year
Town of Los Gatos
29.17%
1 -2 years
$3,322,955.00
5.79%
2 -3 years
$8,883,405.110
15.47 %°
3 -5 years
$28,456,710.63
49.57%
Inactive
Deposits by Instilu( ion
100.1)(1%
18,188.05
0.00
LAW
10,142,921.69
10,142,921.69
0.00
Totals:
$57,410,661.37
$57,230,324.34
Market to Cost Position Report
February 28,2013
Deposit
Amortized
Maturity
Days
Days to
Days
Yield to
Interest
Interest
Interest
Institution
Security
Date
Cost
Date Flapsed
Maturit )
Invested
h4alurity
Earned
Received
Accrued
Treasury
Coupon Note
03 /31/11
1,997,968.75
03/31/13
700
31
731
().8111°•i,
311,692.118
22.500.011
8.192.118
FHLMC
Coupon Note
03 /25/11
1,016,5211.00
04/15/13
706
46
752
0.812%
15,965.55
25.277.78
(9.312.23)
NY Life
Corporate Note
07 /22/11
534,35(1.110
115/09/13
587
70
657
11.791°4
6397.47
30.160.42
(23. ±62.95)
TIAA
Corporate Note
04/11/11
880,446.95
07/15/13
689
137
826
1.334%
22,171.01
71.1147.62
(48,876.61)
NY Life
Coupon Note
01 /25/12
2,041,11110.110
12/13/13
400
288
688
0,753%
16.842.44
32.683.33
(15.840.89)
FFILMC
Coupon Note
09/16/11
2,026.090.00
08 /20/14
531
538
1069
0.527%
15.533.48
28,555.55
(13.1122.07)
FNMA
Coupon Note
10/07/11
1,296,875.00
02/18/15
510
720
1230
0.866%
15,692.54
34.097.22
(18.404.68)
FNMA
Callable Note
04/23/12
1,513,470.00
04/23/15
311
784
1095
0.946%
12,199.23
9,375.00
2.824.23
FHLB
Coupon Note
01/25/13
2,511,725,00
04/30/15
34
791
825
0.278 %°
650.43
6511,43
Treasury
Note
08/16/11
1,042,812.50
07/31/15
562
883
1445
0.652%
111,468.91
25,489.13
(15,020.32)
FNMA
Callable Note
09 /09/11
2,000,000.00
09/09/15
538
923
1461
1,000%
29.479.45
20,01.)1..110
9,479.45
FNMA
Callable Note
12/20/12
500,260.00
11106115
70
981
1051
0.473%
453.81)
453.81)
BerkFIath
Coupon Note
11/26/12
1,315,137.50
12/15/15
399
1020
1419
1.077%
15,483.42
27,137.15
(11.653.73)
FNMA
Callable Note
04/04/12
2,002,500.00
04 /04/16
330
1131
1461
1.058%
19,154.87
10,9011.011
8.254.87
FHILMC
Callable Note
08 /15/12
2,010,200.00
05/16/16
197
1173
1370
0.861%
9,341.48
5,055.56
4.285.92
FFILMC
Callable Note
08/16/12
1,1)05,1.)111.00
05116116
196
1173
1369
11.864%
4,662.76
2,500.00
2.162.76
FNMA
Callable Note
06/29/12
2,1105,7110.00
05/23/16
244
1180
1424
0.800%
11),726.37
7.0011.110
3326.37
IBM
Coupon Note
11/13/12
782,505.00
07/22/16
107
1240
1347
0.757%
1,736.50
18113.12
(1,066.62)
Treasury
Note
08/16/11
1,025,390.63
07/31/16
562
1249
1811
0,973%
15,361.92
21,847.83
((1,485.91)
SO
Coupon Note
12/18/12
526,020.00
10/15/16
72
1325
1397
11.962%
998.20
998.211
FHLIvIC
Callable Note
12/20/12
1,1.109,9(10.00
03/28/17
70
1489
1559
0.470%
910.29
9111.29
FNMA
Callable Note
05/25/12
3,033,660.00
05/03/17
279
1525
1804
1.512%
35,061.46
211141.67
12.019.79
Berk Hath
Coupon Note
01 /11/13
509,280.00
115/15/17
48
1537
1585
1.162%
778.24
779.24
FHLMC
Callable Note
06/08/12
2,007,700.00
06/0017
265
1559
1824
1.120%
16,325.63
11.866.67
4,458.96
FI-ILIvIC
Callable Note
06 /28/12
2,5(17,250.(10
06/14/17
245
1567
1812
0.139%
2339.311
13.833.33
(11.494.03)
FHLMC
Callable Note
01/11/13
2,525,925.0(')
08/14/17
48
1628
1676
11.244%
8111.51
4.583.33
(3,772.82)
FNMA
Callable Note
10/19/12
1,504,050.00
09/20/17
132
1665
1797
0.707"/
3.845.59
3,845.59
FNMA
Callable Note
11/30/12
1,003,200.016
09/20/17
90
1665
1755
1.6040%
1.494.08
1,494.08
FNMA
Callable Note
12/04/12
1,002,750.110
119/20/17
86
1665
1751
0.652%
1;5411.44
1.5411.44
FFCB
Coupon Note
10/18/12
1,996,9611.00
09/21/17
133
1666
1799
0.862%
6,272.42
6.272.42
FFILB
Coupon Note
12/12/12
1,998,720.00
12/09/17
78
1744
1822
11.751°/°
3,2117.70
3,207.70
Subtotal
47,133,356.33
BNYMN4
116,195.30
311
30
0.1111%
0.00
0,00
Purchased Interest
18,188.05
LAIF
N/A
12/31/12
10,142,921.69
03/31/13
59
31
90
0.30%
4,808.59
4,808.59
$57,410,661.37
920
0.70%
$331,806.08
$429,754.71
($97,948.63)
Maturity Prolile
Amount
Percent
0 -1 year
$16,747,590,74
29.17%
1 -2 years
$3,322,955.00
5.79%
2 -3 years
$8,883,405.110
15.47 %°
3 -5 years
$28,456,710.63
49.57%
0.00
$57,410,661.37
100.1)(1%
Market to Cost Position Report
page 5
* Source: Treasury. and Agency Obligations - Union Bank of California
LAIF balances per Local Agency Investment Fund monthly statement.
Amortized
Market
Unrealized
Institution
Cost
value*
Cain (Loss)
BNY Assets
$47,133,356,33
$46,953,019.30
(190,337.03)
BNY MM
116,195.30
3 16,195.30
0.00
Purchased Interest
18,188.05
18,188.05
0.00
LAW
10,142,921.69
10,142,921.69
0.00
Totals:
$57,410,661.37
$57,230,324.34
4180,337.03
page 5
* Source: Treasury. and Agency Obligations - Union Bank of California
LAIF balances per Local Agency Investment Fund monthly statement.
Town of Los Gatos
Quarterly Investment Report
(Month Ended January 31, 2013)
Prepared by
Linda L. Speicher, Project Manager
05/09/13 C..'V
Town of Los Gatos
Summary Investment Information
January 31, 2013
Weighted Average Portfolio Yield: 0.70% Weighted Average Maturity (clays)
This Moutlr Last Month One year alto
Portfolio Balance $64,278,682 $60,454,043 $76,729,822
Benchmarks/ References
Town's Average Yield
0.70%
0.73%
1.06%
LAID Yield for month
0.30%
0.33 %
0.39%
3 mo. Treasury
0,08%
0.09 %
0.04%
6 mo. Treasury
0.11%
0.13%
0.07%
2 yr. Treasury
0.29%
0.25%
0.25%
5 yr. Treasury (most recent)
0,89%
0.77%
0.90%
Prime rate
3,25%
3,25%
3.25%
Most recent auctions of
Freddie Mac or Fannie Mae Reference Notes:
3 yr. Fannie Mae (02/15/13) 0.54%
Note: Both Fannie and Freddie have ceased offering 2 year notes for the time being.
3 - 5 years
50%
Portfolio Maturity Profile
- 3 years
18%
year
29%
1 - 2 years
3%
949
Compliance: The Town's investments are in compliance with the TO\1R1'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
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
58,000,000
N
Town of Los Gatos
Portfolio Allocation & Treasurer's Fund Balances
January 31, 2013
Month
YTD
Fund Balances - Begimiiug of Month/Peliod
$60,454,043.31
$75,558,782.33
Receipts
7,198,586.87
22,547,31 5.48
Disbursements
(3,373,948.66)
(33;827,416.29)
Fund Balances - End of Month/Period
$64,278,681.52
$64,278,681.52
Portfolio Allocation:
BNY MM
$68,695.29
US Govt Agencies
47,171,961.05
Local Agency Investment Fund
10,142,921.69
Subtotal - Investments
57,383,578.03
Reconciled Demand Deposit Balances
6,895,103.49
Total Treasurer's Fund
$64,278,681.52
Portfolio Investment Allocation
BNY MM
0.1%
Local Agency Investment Fund
US Govt Agencies
82.20%
Treasurer's Pand Balances
N N 'N N N N N N N N N rn
w ° N o z C]
page 2
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 includes redemption accounts set up for the repayment of interest and principal on outstanding
bond coupons for Parking Assessment District Y, as well as Reserve Funds set tip as required by the original Bond resolution.
Note 4: The three original funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the
next f'ewyears, reserve fluids which will guarantee the payment of lease, payments, and a third fund for the disbursement of lease payments
and initial delivery costs.
Note 5: T1te 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and at lease payment land for the
life of the COP issue. The C01 fund was closed in September 2010.
Page 3
Town of Los Gatos
Non- Trensory Restricted Fund Balances
January 31, 2013
Previous
Ending
Balance
Deposits
Interest
Withdrawals
Balance
Non - Treasury Funds:
Downtown Parking District 12/20/02
$286,036,70
$0,00
$286,036.70Not, I
Cert. of Participation 2002 Series A Reserve Fund
686,251.19
5.85
5.85
686,251.19
Note 4
Cert. Of Participation 2002 Set- A Lease Pytnt Fund
0.00
199,426.25
0,00
199,42615
Note 4
Cert. of Participation 2002 Series A Const. Fund
42,558.48
31.88
42,590.36
Note 4
COP 2010 Library Reserve Fund
1,277,062.50
8.92
8.92
1,277.062.50
Note 5
COP 2010 Library Lease Fund
0.00
300,412,50
0,00
300,412.50
Note 5
COP 2010 Library ACQ Construction Fund
0.00
0.00
0,00
Note 5
COP 2010 Library C01 Fund
0.00
0.00
0.00
Note 5
COP 2010 Library Good Faith
0.00
0.00
0.00
Not, 5
Total Restricted Funds:
$2,291,908.87
$499,838.75
$46.65
$14.77
$2,791,779.50
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 includes redemption accounts set up for the repayment of interest and principal on outstanding
bond coupons for Parking Assessment District Y, as well as Reserve Funds set tip as required by the original Bond resolution.
Note 4: The three original funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the
next f'ewyears, reserve fluids which will guarantee the payment of lease, payments, and a third fund for the disbursement of lease payments
and initial delivery costs.
Note 5: T1te 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and at lease payment land for the
life of the COP issue. The C01 fund was closed in September 2010.
Page 3
Interest received from Investments
Interest accrued /(prepaid) at end of period (see page 5)
Interest accrued /(prepaid) at beginning of period
Interest earned on investments
Town of Los Gatos
Statement of Interest Earned
January 31, 2013
Interest by Month
July 2012
August 2012
September 2012
October 2012
November 2012
December 2012
January 2013
February 2013
March 2013
April 2013
May 2013
,tune 2013
Page 4
Current
Fiscal
Month
Year to Date
53,871.18
372,370.84
- 101,508.19 - 101,508.19
- 79,771.21 - 2,568.42
$32,134.20 $273,431.07
$50;686.03
40,230.09
41,243.95
35,819.67
37,21 5.67
36,101.46
32,134.20
Market to Cost Position Report
Town ol'Los Gatos
Amortized
Market
Unrealized * Source: Treasury and ,-Agency Obligations - Union Bank of California
Institution
Cost
Value*
Gain (Loss) LAIF balances per Local Agency Investment Fund monthly statement.
BNY Assets
$47,133,356.33
$46,917,895.85
Inactive
Deposits by Institution
68,695.29
68,695.29
01.1:101
Purchased Interest
38,604.72
38,6014.72
0.00
LAIF
10,142,921.69
10,142,921,69
Market
to Cost Position Report
$57,383,578,03
$57,168,117.55
- $215,460.48
January 31, 2013
Deposit
Amortized
Maturity
Days
Days to
Days
Yield to
Interest
Interest
Interest
Institution
Security
Date
Cost
Date Elapsed
Maturitt
Invested
Maturity
Earned
Received
Accrued
Treasury
Coupon Note
03/31/11
1,997,968.75
03/31/13
672
59
731
0.8011%
29,464.40
22.500.00
6,964.40
FHLMC
Coupon Note
03/25/11
1,016,520.00
04/15/13
678
74
752
0.812%
15.332.35
25.277.78
(9.945.43)
NY Life
Corporate Note
07 /22/11
534,350.00
05/09/13
559
98
657
01.791%
6.473.23
30,160,42
(23.687.19)
TIAA
Corporate Note
04/11/11
880,446.95
07/15/13
661
165
826
1.334%
21,271'1,1'11
7L047.62
(49.777.61)
NY Life
Coupon Note
011 /25/12
2,041,000.00
12/13/13
372
316
688
11.753%
15,663.47
32,683.33
(17,019.86)
FHLIvIC
Coupon Note
09/16/11
2,026,080.00
08/20/14
503
566
1069
0.527%
14,714.39
18,555.55
(3,841.16)
FNMA
Coupon Note
10/07/11
1,296,875.00
02/18/15
482
748
1230
0.866%
14.830.99
21,597.22
(6,766.23)
FNMA
Callable Note
04 /23/12
1,513,470.110
114/23/15
283
812
1095
0.946%
11,1110.91
9.375.1111
1.725.91
FIB B
Coupon Note
01 /25/13
2,511,725.00
04/301/15
6
819
825
0.279%
114.78
114.78
Treasury
Note
018 /16/11
1,042,812.50
07/31/15
534
911
1445
11.652%
9,947.23
25.489.13
(155.541.90)
FNMA
Callable Note
09 /09/11
2,000,011.10.010
09/09/15
510
951
1461
1.01 0%
27,945.21
21'1,111.111,1111
7,945.21
FNMA
Callable Note
12/20/12
5011,260.00
11/06/15
42
1009
1051
0.473%
272.28
272.28
Berk Hath
Coupon Note
O1 /26/12
1,315,137.51:1
12/15/15
371
1048
1419
1.077%
14396.86
27.137.15
(12.740,29)
FNMA
Callable Note
04/04/12
2,002,5010,00
04/04/16
302
1159
1461
1.059%
17.529.61
10.900.1111
6,629.61
FHLMC
Callable Note
08/15/12
2,1:1111,2010.0101
05/16/16
169
1201
1370
0.861%
8.013.76
5.1155.56;
2.958.20
FHLMC
Callable Note
08/16/12
1,005,000.010
05 /16/16
168
1201
1369
01.864%
3,996.65
2.51111.011
1.496.65
FNMA
Callable Note
06 /29/12
2,005,7010.00
015/23/16
216
1208
1424
0,8011%
9.495.48
7,000.()11
2,495.48
IBM
Coupon Note
11/13/12
782,505.00
07/22/16
79
1268
1347
0,757%
1,282.09
2.8113,12
(1.521.113)
Treasury
Note
08/16/11
1,0125,390.63
07/31/16
534
1277
1811
0.973%
14,596,56
21,847.83
(7.251.27)
SO
Coupon Note
12/18/12
526,020.00
10/15/16
44
1353
1397
0.962%
610.01
610.111
FI-111vIC
Callable Note
12/20/12
1,01019,900.010
03/28/17
42
1517
1559
0,470%
546.18
546.18
FNMA
Callable Note
05/25/12
3,033,660.00
05/03/17
251
1553
1904
1.512%
31,542.75
23,041,67
8,50 1.08
Berk Hath
Coupon Note
01/11/13
509,280.00
05/15/17
20
1565
1585
1,162%
324.26
324.26
FHLMC
Callable Note
016/08/12
2,007,700.010
06/06/17
237
1587
1824
1.120%
14,6001,65
11.866.67
1733.98
FMI\/fC
Callable Note
06/28/12
2,5017,250,010
016/14/17
217
1595
1812
01.139%
2,071.95
13.833.33
(11,761.38)
FI -II,MC
Callable Note
01 /11/13
2,525,925.001
08/14/17
201
1656
1676
01.244%
337.71
337.71
FNMA
Callable Note
10/19/12
1,504,050.001
09 /20/17
104
1693
1797
0.7017%
3,029.86
3,029.86
FN1\4A
Callable Note
11/30/12
1,003,200.00
019/20/17
62
1693
1755
0.604%
1,029,26
1.029.26
FNMA
Callable Note
12/04/12
1,0012,750.00
019/20/17
58
1693
1751
0.652%
1,038,90
1.038,90
FFCB
Coupon Note
10/18/12
1,996,960.00
09/21/17
105
1694
1799
0.862%
4,951.91
4,95191
FH1.B
Coupon Note
12/12/12
1,998,720.00
12/08/17
50
1772
1822
11.751%
2,056,22
2.056.22
Subtotal
47,133,356.33
BNY 11,fl\/I
68,695.29
30
30
0.0111%
1'1,111')
0.00
Purchased Interest
38,604,72
LAW
N/A
12/31/12
10,142,921.69
03/31/13
31
59
90
0.301%
2,583.26
2,583.26
$57,383,578.03
949
0,70%
$301,163.19
$402.671.38
($101.5118,19)
Maturity Profile
Amount
Percent
01 -1 year
$16,7211,5017:40
29.14%
1 -2 years
$2,0126,1180,010
3.53%
2 -3 years
$10,180,280.00
17.74%
3 -5 years
$28,456,710.63
49.59%
$57,383,578,03
1110.010%
Market to Cost Position Report
Amortized
Market
Unrealized * Source: Treasury and ,-Agency Obligations - Union Bank of California
Institution
Cost
Value*
Gain (Loss) LAIF balances per Local Agency Investment Fund monthly statement.
BNY Assets
$47,133,356.33
$46,917,895.85
(215,4601.48)
BNY 1A/11\4
68,695.29
68,695.29
01.1:101
Purchased Interest
38,604.72
38,6014.72
0.00
LAIF
10,142,921.69
10,142,921,69
0.00
Totals:
$57,383,578,03
$57,168,117.55
- $215,460.48
page 5