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�wxoo .I toa 6�`os COUNCIL AGENDA REPORT DATE: November 5, 2013 TO: MAYOR AND TOWN COUNCIL FROM: GREG LARSON, TOWN MANAGER MEETING DATE: 11/18/13 ITEM NO: SUBJECT: FY 2013/14 QUARTERLY INVESTMENT REPORT (JULY THROUGH SEPTEMBER 2013) RECOMMENDATION: Accept the attached First Quarter Investment Report for FY 2013/14. DISCUSSION: Attached for your consideration is the First Quarter Investment Report for FY 2013/14. No real changes occurred during the current quarter in the markets in general. Rates of return continued to bounce around, while the Town's overall rate of return remained steady. The Town is still out performing LAIF and Treasuries in general and continues to attempt to replace investments which mature with like minded investments. FISCAL IMPACT: None Attachment: First Quarter Investment Report for FY 2013/14 (July through September 2013) PREPARED BY: � CONWAY Finance & Admmrstratt Services Director/ Town Treasurer Reviewed by: Assistant Town Manager Town Attorney Acjinance N: \TRS\Staff Reports\201 I \Treasuret"s Report -Q1 2013 2014.doc THIS PAGE INTENTIONALLY LEFT BLANK Town of Los Gatos Quarterly Investment Report (Month Ended July 31, 2013) Prepared by Linda L. Speicher, Project Manager 11/04/13 Town of Los Gatos Summary Investment Information July 31, 2013 Weighted Average Portfolio Yield: 0.65% Weighted Average Maturity (days) This Month Last Month One year nao Portfolio Balance $61,509,295 $62,582,094 $71,769,523 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 0.65% 0.66% 0.97% 0.27% 0.25% 0.37% 0.03% 0.06% 0.11% 0.07% 0.11% 0.15% 0.34% 0.43% 0.22% 1.41% 1.48% 0.58% 3.25% 3.25% 3.25% Most recent auctions of Freddie Mac or Fannie Mae Reference Notes: 3 yr. Fannie Mae (07/19/13) 0.73% Note: Both Fannie and Freddie have ceased offering 2 year notes for the time being. Portfolio Maturity Profile 0- 1 year I - 2 years 13% 3 - 5 years 52 - 3 years 21% 1066 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 Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances July 31, 2013 Month YTD Fund Balances - Beginning of Month/Period $62,582,093.70 $62,582,093.70 Receipts 3,880,220.41 3,880,220.41 Disbursements (4,953,019.12) (4.953.019.121 Fund Balances - End of Month/Period $61,509,294.99 $61,509,294.99 Portfolio Allocation: BNY MM $292,676.62 US Govt Agencies 47,042,630.60 Local Agency Investment Fund 4,153.705.33 Subtotal - Investments 51,489,012.55 Reconciled Demand Deposit Balances 10,020,282.44 Total Treasurer's Fund $61,509,294.99 i Portfolio Investment Allocation BNY MM Local Agency Investment Fund 0.57% 8.07% US Govt Agencies 91.36% Treasurer's Fund Balances < y 8 z page 2 Town of Los Gatos Non - Treasury Restricted Fund Ralancas July 31, 2013 Non - Treasury Funds: Downtown Parking District 12120/02 Cert of Participation 2002 Series A Reserve Fund Con. Of Participation 2002 Set A Lsx se Pymt Fund Can. of Participation 2002 Series A Const. Fund COP 2010 Library Reserve Fund COP 2010 Ubtary Lease Fund COP 2010 Library ACQ Construction Fund COP 2010 Library COI Fwd COP 2010 Library Good Faith Tom] Restricted Funds: Previous Ending Bala n Dcwsin Inhere Withdrawals Balance $286,446.89 $59.68 $296,506.57 Notet 686,251.19 5.66 5.66 686,251.19 Noma 0.00 484,426.25 0.00 484,426.25 Note 42,617.75 23.90 42,641.65 Nota4 1,277,062.50 0.00 1,277,062.50 Nom5 0.00 970,412.50 0.00 970,412.50 Nom5 0.00 0.00 0.00 Notes 0.00 0.00 0.00 Note 5 0.00 0.00 0.00 Nom 5 $2,292,378.33 $1,454,838.75 $8924 $5.66 $3,747,300.66 These accounts are not pan of the Treasurer's fund balances reported elsewhere in this report, as they are for separam and distinct entities. NOW 1: This account includes redemption accounts set up for the repayment ofintereat and principal on outstanding bond coupons for Parking Assessment District';', as well as Reserve Funds set up as required by the original Bond resolution. Note 4: The three original funds for the Certificates 01 Participation 2002 Series A consist ofcorestmction funds which will be expended over the next few years, reserve funds which will guarantee the payment of lease payments, and a third food for the disbursement of lease payments and initial delivery costs. Note 5: The 2010 COP Furls are all for the Libmry construction, reserves to guarantee lease payments, and a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010. Page 3 Tosw of Loa Gatos Inactive Deposits by Instiation Market a Cost Position Report July31,2013 Imtimb. Semrity Deposit Par Value Original Cost Manuity Dom Days Yields Amm A,e ,rTRmxli.x•e n -.- ,_._. -e ee -- -n- _e.._.., T r. n.r. ... FNMA Coupon Note 07/1 &13 815,000.00 8]],51835 03/04/16 960 0.558% pwubaaed Intact 12,32333 186.63 186.63 LAIF N/A 0&30/13 87244EAG7 O6/3WD 0 0.75% 34.10 942013 0b5% $11138532 $34605028 $369908 $3654908 186.63 $51330$9876 ING Coupon Note 06/14/13 50,500.0 499,527.78 102&13 136 0.254% 13.591. 107.64 10764 1336% M9T OXU7 2 -3 years $10,957,811.45 163.19 42&2013 3 -5 years $2665,475.01 163.19 $51,489,012.55 NY_Ufe Coupon Notc 0125/12 2,000,000.00 2,041,000.00 12/13/13 688 0.753% Moot lluoaliu 51,183.33 1,338.73 038.73 Valuer Gain(. s) 64952WAXi BNY Paws 1.85% 32,954.94 6/13/21113 BNYMM 292,676.62 2,251.65 Puahesedlntact 12,323.83 FHLMC Coupon Note 09/16/11 2,000,000.00 2,026,080.0 08/20/14 1069 0.527% $50,993,105.11 4495,907." 28,555.55 %5.93 965.93 31NG2UAB 1.00°0 16687.30 7202013 5,040.98 FNMA Coupon No. 10107 /II 1,250,000.00 1,296,875.00 02/18115 1230 0.M6% 34,09].22 971.38 971.38 3136FM6V1 2.0000/. (25,266.77) 211812013 5,145.66 FHLB Coupon Note OI2913 ;500,000.00 2,511,725.00 04/30115 825 0.M% 4,288.19 9%.73 958.73 3133MSS 0.65% 2,657.6 4/302013 2;887.90 Tseaauiy Note 08116/11 1,000,000.00 1,042,812.50 0721/15 1M5 0.652% 34,239.13 28AS 588.48 91282SNPI 1.75°0 21 184.04 721/2013 0.00 FNMA Callable Note W109111 2,0.000.00 2,000,000.00 09/09/15 1461 1.000% 30,000.00 1,72222 1,722.22 3136FRX73 1.00% 0.00 322013 8,000.0 FNMA Casaba Nme I22WI2 550,000.00 50.260.00 11106115 1051 0.473% 94/.4/ 207.61 207.61 3135GORS4 0.50% 55.1 51012013 576.94 Bork HaN Coupes Note 0126/12 1,250,000.00 1,315,137.50 12115/15 1419 LOT/°+ 42,4/9.65 1,214.13 1,214.13 0N66BNO 2.45% (25,338.90 ) 61152013 1,93933 FNMA Ca8able Nate 0523113 2,500,000.0 2,511,300.00 0429116 1072 0390% 1,018.71 1,018.71 3135GOWRO 0.63% 727.33 4/292013 2,046.10 FNMA Callable Note 0629/12 1,000,000.00 2,005,700.00 0523/16 1424 0.720% 15,750.00 1,382.86 1,382.86 3, 35GOLD3 0.88% 1,589.12 523/2013 3.093.98 IBM C. Note 11/13/12 750,000.00 782,505.00 0722/16 1347 0.757% 10,115.62 511.30 511.30 459200GX3 1.95% 6274.16 7222013 2M.97 T. Note 08/16111 1,00.000.00 1,025,390.63 07131116 1811 0.973% 29,347.83 857.04 857.04 9128 XI 1.50% IOU4A6 7212013 0.0 50 Coupon Note 12/18/12 500,000.0 526,020.00 10115116 1397 0.%2% 3,818.75 4MAI 434.41 605417BX1 235°. 4,190.7 4/151013 1,55530 FNMA Callable NOte 05/14/13 1,50.000.00 1,50.000.00 11/14/16 1280 0.550% 710.42 710.92 31350OWY5 0.55% 0.00 5/142013 1,]87.50 FNMA Callable Note 04/04/13 4,00.000.0 4,004,800.00 OV14/17 IMO 0.621% 2,480.00 2,480.00 3135GOVM2 0.75% 393.33 Y142013 9,38333 FHLMC CaOaN<Noto 1221N12 1,000,000.00 1,009,900.00 032V17 1559 0.470% 3,402.]8 879.53 879.53 31MG3 W1 1.25% 1416.10 317%12013 3,571.90 Bak Hatb Coupon Note 01/11113 50.000.00 509,280.0 091917 1585 1.162% 2,755.56 507.39 507.39 084664BS9 1.60°0 1,176.83 SIIYM13 1,283.70 FHLMC Callable Note 06/08/12 2,00,00.0 2,007,700.00 06/06/17 1824 1.00°0 73,866.67 1,935.80 1,93530 31UG3WVS 1.20% 1,764.58 6/6/2013 3,447.15 FHLMC Callable Note 01/11113 2,500,000.00 2,525925.0 08/14/17 1676 0.24/% 4,583.33 3,826.04 3 ,826.04 31NG3F21 200°0 3109.14 2/142013 20626,69 FNMA Callable Noa 10/19/12 1,50.000.00 1,504,050.00 0920/17 1797 0.707% 6,291.67 1,221.W 1,22130 3135GOPP2 1.00% 64232 9202013 5,250.93 FNMA CallableNote 11/30/12 1,000,000.0 1,003,200.00 0920/17 1755 Ohm% 3,055.56 804.59 804.59 3135GOPP2 1.00% 443.8 3202013 3,45923 FNMA Ca0abie Noto IVW12 1,000,000.0 1,502,750.00 09/20/17 1751 0.652% 2,916.67 81242 812.42 3135GOPP2 1.00% 37536 3/202013 3,491.85 FFCB CoWoa Note 1WIV12 2,000,000.00 1,996,960.00 0921/17 1"9 0362°0 7,055.00 1,48133 1,481.83 3133EAY28 0.83% 483.29 3/212013 6,3 .65 FHLB Coupon Note IVIV12 2,00.000.00 1,99$720.00 IMWI7 1822 0.751% 7,333.33 1,313.4/ 1,313.4/ 3133SIB20 0.75% 162.28 61VW13 7,243A6 FNMA Callable NOtc 04 /17/13 1,000,000.0 1,00,400.00 0M5/18 1783 0.623°0 89225 892.25 31MG1ER6 1.13% 259.11 997013 2,925.89 FNMA cwlnbleNoa OW14/13 2,000,050.00 2,012,840.00 04 /24/18 1775 1.150°0 ;359.09 2,359.09 3I36G1KN8 1.50% 33999 4242013 3,229,16 FNMA Callable Note 05/06/13 3,00.000.0 3,056,250.0 0124118 1814 0.540% 2,913.73 2,913.]3 3136GIKN8 1.50°e 2,666.76 4242013 7,804.16 .APL CoMoWa Note 091 &13 1,000,00.00 991,680.01 OSW18 1813 1.172°0 1,003.37 1,003.37 03]833.19 1.0% M8.7 932013 2,501.18 SubW W 47,030,306.77 Tool Amost O.)Aecreti WDae (158.413.]9) AMORT= COST TOTAL 46,871,892.98 BNY MM 292,676.62 0.00°0 pwubaaed Intact 12,32333 LAIF N/A 0&30/13 4,153,705.33 O6/3WD 0 0.27% 941.60 941.60 941.60 Toni OnZnal Cost $51,409.01255 0b5% $11138532 $34605028 $369908 $3654908 Toal AmorBmd Cmt $51330$9876 Maturity Profile A 0.1 Pacmt 0-i year $6,999,233.56 13.591. 1'2 years $6,877,492.50 1336% 2 -3 years $10,957,811.45 21.28% 3 -5 years $2665,475.01 51.T/°O $51,489,012.55 10.0% Market 0 Cost Poskion Report Amortized Moot lluoaliu +Source: T. and Agency O68gatima- Unioo Bards ofCalifbm Instituem Cost Valuer Gain(. s) LAIFbaa mMLOOS!AB®oylnvatmmt Fundmm00ysatmma BNY Paws $47,030,306.77 $46,534399.33 - $495,07." BNYMM 292,676.62 292,676.62 $0.0 Puahesedlntact 12,323.83 12,32383 $0.0 LAIF 4,153,705.33 4153,70533 $0.00 Tohls: $51,489,012.55 $50,993,105.11 4495,907." Pa$64 THIS PAGE INTENTIONALLY LEFT BLANK Town of Los Gatos Quarterly Investment Report (Month Ended August 31, 2013) Prepared by Linda L. Speicher, Project Manager 11/04/13 Town of Los Gatos Summary Investment Information August 31, 2013 Weighted Average Portfolio Yield: 0.66% Weighted Average Maturity (days) This Month Last Month One year aeo Portfolio Balance $61,137,355 $61,509,295 $70,793,188 Benchmarks/ References: Town's Average Yield LAIF Yield for month 3 me. Treasury 6 mo. Treasury 2 yr. Treasury 5 yr. Treasury (most recent) Prime rate 0.66% 0.66% 0.83% 0.27% 0.27% 0.37% 0.04% 0.03% 0.11% 0.07% 0.07% 0.14% 0.39% 0.34% 0.27% 1.41% 1.41% 0.71% 3.25% 3.25% 3.25% Most recent auctions of Freddie Mac or Fannie Mae Reference Notes: 3 yr. Freddie Mac (08/16/13) 0.88% Note: Both Fannie and Freddie have ceased offering 2 year notes for the time being. Portfolio Maturity Profile -- -- V_ i. 0- 1 Year 3 5ymrs 47% 1 - 2 years 9% - 3 Years 21% 981 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 6 Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances August 31, 2013 Month YTD Fund Balances - Beginning of Month/Period $61,509,294.99 $62,582,093.70 Receipts 2,934,279.20 6,814,499.61 Disbursements (3,306,218.76) (8.259.237.88) Fund Balances- End ofMonth/Period $61,137,355.43 $61,137,355.43 Portfolio Allocation: BNY MM $338,976.62 US Govt Agencies 47,017,905.60 Local Agency Investment Fund 4.153.705.33 Subtotal - Investments 51,510,587.55 Reconciled Demand Deposit Balances 9.626.767.88 Total Treasurer's Fund $61,137,355.43 Portfolio Investment Allocation BNY MM Local Agency Invatment Fund 0.66% 8.06% I i i it US Govt Agencies 91.28% Treasurer's Fund Balances y ^ T C page 2 Town of Los Gatos Non- Freasury Restricted Fund Balanees August 31, 2013 Non - Treasury Funds: Downtown Parking District 12/20/02 Cart. of Participation 2002 Series A Reserve Fund Can. Of Participation 2002 See A lease Pymt Fund Cen. of Participation 2002 Series A Cores Fund COP 2010 Library Reserve Fund COP 2010 Library Lease Fund COP 2010 Library ACQ Construction Fund COP 2010 Isbmry, COI Fund COP 2010 Library Good Faith Total Restricted Funds: Previous Ending Balatee Deeaosifs Intems Withdrawals Balance $286,506.57 $61.68 $286,568.25 Note 686,251.19 5.85 5.85 686,251.19 No,e4 484,426.25 0.00 484,426.25 0.00 Note 42,641.65 1,109.00 43,750.65 NW4 1,277,062.50 0.00 1,277. 062.50 No.5 970,412.50 0.00 970,412.50 0.00 Noee5 0'00 0.00 0.00 No.5 0.00 0.00 0.00 Note 5 0.00 0.00 000 Notes $3,747,300.66 $0_00 $1,176.53 $1,454,844.60 $2,293,632.59 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 eesolution. Note 4: The three original funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the text few years, reserve fonds which will goarantce the payment of lease payments, and a third fund for the disbursement of lease payments and initial delivery costs. Noce 5: The 2010 COP Funds sre all for the Library construct ion, reserves m guarantee lease payments, and a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010. Page 3 Town of Los Catx luactisc Bauxite by Institution Market to Cost Position Report Aueust31,2013 Ixtitution Security D,.k Par Value Ongiatl Cost Maturity Dec Days to Days Yeld to ...in C1IS10.1.1 rl.en R.,. G...a..... (A......w..Nnnl MnetRn,m,Int 11.1, Mem,iw T-IM Mm,nw lot R^, Anm,s131 Into tRoed Cuvmt Month FYTo Date FNMA Coupon Note 07/18/13 815,WO.W 817,518.35 03/3/16 916 960 0.558% 0. purchased loosest 445.03 63166 8]24,1EAG7 LAIF N/A 06/30/13 0 .75% 115.42 3/4/2013 0.27% 941.60 95603 10743 Total Original Cost 551510$87.55 631.66 974 046% $112223.18 5363,966.95 $33,373.10 $69,92218 Total Amoltiud Cost MG Coupon Note 06/14/13 500,000.00 499,527.78 10/28/13 58 136 0.254% 0 -1 yes $11,572813.56 107.64 215M 4497010X5/7 54,851,412.50 9.42/. 270.83 4/2812013 2.3 years $10,957,811.48 21.27/. 27083 3.5 years $24,128,550.01 NY Life Coupon Note OI2W12 ;000,000.00 2,041,000.00 1313/13 IN 688 0.753% 51,18333 1,338.73 2,677.45 N952WAX1 Market 1.85% 34.802.33 6/13YM13 Cost Value. Gain(Lors) 3,59037 BNYAsacte $47,005,581.77 $46,33,051.48 FHLMC Coupon NMe 09/16/11 2,000,000.00 2,026,080.0 08/20/14 354 1069 0.527/. 1232383 38,555.55 %5.93 1,931.85 4,153,705.33 3134GZUAB $0.00 1.00% 17,493.59 8/2(1/1013 $5,841.057.26 3669,530.29 440.33 FNMA Coupon Note 1WO7 111 1,25,000.00 1,296,875.00 0318/15 536 1230 0.866% 46,597.22 971.38 1,94275 3136FM6V1 2.0000 /. 448.1 8/18/2013 559.79 FHLB Coupon Note 0125/13 2 500, 000.00 2,511,725.00 04/30/15 607 825 0.278•. 4,288.19 958.73 1,917.46 313378XS5 0.65% 3,098.24 4/302013 3,846.63 Treasury Now 0 8116111 1,000,000.00 1,042,81250 07/31/15 699 1445 0.652% 34,239.13 588.48 1,176.95 912928NPI 1.75 ° ° /. 22,102.51 7131/2D13 706.99 FNMA CallaW.Note 09/09/11 2,000,000.00 2,000,0OO.OD 09 /09/15 739 1461 1.00% 30.000.00 1,722.22 3,444.44 3136FRX73 1.DO% 0.00 3/92013 972222 FNMA CaNbl.Note 1220/12 500,000.00 500,260.0 IV06/IS 797 1051 0.4]3% 944.44 207.61 415.22 3135GOR34 0.5054. 6184 5/612013 784.55 Bark Hntk Coupon Note 0126112 1,250,001.00 1,315,137.50 IVIAIS 836 1419 1.077% 42,449.65 1,214.13 2,428.27 08466BNO 2.45% (26,761.92 ) 6/192013 3.153.47 FNMA G abic Note 052/13 2 ,50,000.00 2,511,300.00 04 129/16 972 10]2 0.390% 1,018.71 2,037.43 3135GOWRO 0.63% 1,054.10 4292013 3,054.81 FNMA Callable Note 06 /29/12 2,00,000.00 2,005,700.00 052/16 996 1424 o.]20% 15,750.00 1,38186 2,765.71 3135GOLD3 0.88% 1,713.20 5/232013 4,476.84 IBM Coupon Note 11/13/12 750,000.00 782,505.00 07/22116 1056 1347 0.757% 10,115.62 511.30 I,022W 4592000X3 195% 7022.24 7222013 7%6 Treasury Note 08/16/11 1,000,000.01) 1,025,39063 07/31/16 INS 1811 0.973% 29,347.83 857.N 1,714.08 912E XI 1.50% 10,459.09 7/312013 913.12 SO Coupm Note IVIN12 500,000.0 52,020.00 10115116 1141 1397 0.962°0 3,818.75 434.41 M882 605417BX1 2.35% 4,768.16 4115/2013 1 989.71 FNMA CaU.N.Not. 05114/13 1,50D,o00.00 1,500,000.00 11114/16 1171 1280 0.550°/. 710.42 1,420.83 3135rOWY5 0.55% 0.00 5/14/2013 2.497.92 FNMA Callable Note 04/04/13 4,000,000.00 4,004,800.00 03/14/17 1291 1,140 0.621% 2,480.00 4,960.00 3135GOVM2 0.75% 496.6 31142013 11,863.33 FHLMC Callable Note 1220/12 1,000,000.0 1,009,900.00 03/28/17 1305 1559 0AM% 3,402.78 8]9.53 1,759.06 31NG3SWI 1.25% 1,612.96 3282013 4,451.93 Bud, Hach CoupouNote 01/11/13 50,000.00 509,280.01 05/15/17 1353 1585 1.162% 2,755.56 507.39 1,014.77 0846MBS9 Iw /. 13%.33 51152013 1. 791.09 FHLMC Callable Note 06/08/12 ;000,000.00 ;007,700.00 06/06/17 1375 1824 1.000°. 23,866.67 1,93580 3,871.60 31MG3WV8 1.20% 1,895.45 6162013 5,382.95 FHLMC Callable Note 08/19/13 2,500,000.00 2,501,200.0 OB /19/14 353 365 0.452•. 37721 4,20325 3134G4E115 0.50% 39.45) 8/192013 373.93 FNMA Callable Note 10/19112 1,010,000.01 1,504,050.00 09/20/17 1481 IW7 0.707. 6,291.67 1,221.80 2M3.60 3135GOPP2 1.00/. 712.19) 3202013 647273 FNMA Calktbk:Note 11/30112 1,000,000.00 1,003,200.00 09/20117 1481 1755 0.604% 3,055.56 80.59 1,609.17 3135GOPP2 1.11 499.60 3202013 4,26382 FNMA Callable Note 12/04/12 1,000,000.00 I,00Z,750.00 0920/17 1481 1751 0.652% 2,916.67 812A2 1,62485 31350OPP2 IAp/. 424.3 320/2(113 9304.27 FFCB Coupon Notc 10118/12 ?,00,000.00 1,996,960.00 0921/17 1482 1799 0.86/ /e 7,055.00 1,481.83 296346 3133EAY28 0.83% 53548 3/21/2013 7,786.48 FHLB Coupon Now 12112/12 2,000,000.00 1,998,]20.0 12/08/17 1560 1822 0.751% 7,333.33 1,313.M 2,626.89 31338IDN 0.75% 184.05 64013 3,556.90 FNMA CeOable NOW W17/13 1,00,000.W 1,004,400.00 03/05118 1647 Im 0.623% 89225 1,784.50 3136GIER6 1.13% 335.61 3/5/2013 3,818.14 FNMA Callable Note OW14/13 2W,WD.W 2,012,840.00 04/24/18 1697 17]5 1.150% ;359.09 4,718.17 3136GIKNS 1.50% 564.24 424/2013 5,588.54 FNMA Caeeble Note OSAW13 3,000,000.00 3,05,250.00 0424/18 1697 1814 0.540% 2,913.]3 5,827.45 3136GIKN8 1.50% 3628.03 4242013 10,71789 AAPL Cor crate Not. 05/16)13 1,000,OOO.W 991,680.01 OYON19 1]01 1813 1.172/. 1,003.37 2,006.74 037833A19 1.00/. 491.03 5/3/2013 35N.55 Subtorai 47,005,583/]7 To.1 Amortiratim AeottBOnto Date 165,936.79 ANIVII l IICU l: VDl 1 V IAL 9neJY,099.Ye BNYMM 338,976.62 W 0. purchased loosest 1232383 LAIF N/A 06/30/13 4,153,705.33 06130/13 -62 0 0.27% 941.60 95603 10743 Total Original Cost 551510$87.55 974 046% $112223.18 5363,966.95 $33,373.10 $69,92218 Total Amoltiud Cost $51,346,6511.76 Maturity Profile Amomt Percent 0 -1 yes $11,572813.56 22.47. 1 -2ymo 54,851,412.50 9.42/. 2.3 years $10,957,811.48 21.27/. 3.5 years $24,128,550.01 46.84% $51,510,587.55 IW.W% Market W Cost Position Report Amortized Market Unrealized •Sauve: Treasury and Agency ObRyzriox- Union Bash ofCalifbmia xitutl Cost Value. Gain(Lors) LAIFblmempw Local AgmcylnveslmmtFmdmmUystatemmh BNYAsacte $47,005,581.77 $46,33,051.48 - $669.530.29 BNY MM 338,976.62 33%976.62 W.6) Purchsseilnterxt 12323.83 1232383 $0.00 LAIF 4,153,705.33 4,153,705.33 $0.00 Totals: $51,510,587.55 $5,841.057.26 3669,530.29 page4 THIS PAGE INTENTIONALLY LEFT BLANK Town of Los Gatos Quarterly Investment Report (Month Ended September 30, 2013) Prepared by n / Linda L. Speicher, Project Manager 11/04/13 Town of Los Gatos Summary Investment Information September 30, 2013 Weighted Average Portfolio Yield: 0.66% This Month Last Month Portfolio Balance $59,688,925 $61,137,355 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 Weighted Average Maturity (days) 952 One year aeo $67,979,473 0.66% 0.66% 0.82% 0.26% 0.27% 0.11% 0.01% 0.04% 0.11% 0.04% 0.07% 0.14% 0.35% 0.39% 0.27% 1.41% 1.41% 0.65% 3.25% 3.25% 3.25% Most recent auctions of Freddie Mac or Fannie Mae Reference Notes: 3 yr. Freddie Mac (09/23/13) 0.87% Note: Both Fannie and Freddie have ceased offering 2 year notes for the time being. Portfolio Maturity Profile 0- l year 3 - 5 years 47% Ow I - 2 years 14% 2 - 3 years 17% 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 September 30, 2013 Month Fund Balances - Beginning of Month/Period $61,137,355.43 Receipts 2,090,296.37 Disbursements (3,538,726.41) Fund Balances - End of Month/Period $59,688,925.39 Portfolio Allocation: BNY MM $272,080.10 US Govt Agencies 47,146,251.22 Local Agency Investment Fund 4.153,705.33 Subtotal - Investments 51,572,036.65 Reconciled Demand Deposit Balances 8,116,888.74 Total Treasurer's Fund $59,688,925.39 Portfolio Investment Allocation BNY MM Local Agency Investment Fund 0.53% 8.05% us YTD $62,582,093.70 8,904,795.98 (11.797.964.291 $59,688,925.39 page 2 Town of Los Catus Non-Treasury Restricted Fund Balances September 30, 2013 Non - Treasury Funds: Downtown Parking District 12/20/02 Cert. of Participation 2002 Series A Reserve Fund Col. Of Participation 2002 So A Lease Pymt Fund CM of Participation 2002 Series A Corer. Fund COP 2010 Ubmry Reserve Fund COP 2010 Library Lean Fund COP 2010 Library ACQ Construction Fund COP 2010 Library COI Fund COP 2010 Library Good Faith Total Restricted Funds: Previous Ending Bala sits Interest Withdrawals Balance $286,568.25 $61.69 $286,629.94 Note1 686,251.19 5.85 5.85 686,251.19 Novo 0.00 0.00 0.00 Novo 43,750.65 0.00 43,750.65 Nova 4277,062.50 0.00 1,277,062.50 Notes 0.00 0.00 0.00 Nw,$ 0.00 0.00 0.00 No.5 0.00 0.00 0.00 Note 5 0.00 0.00 0.00 Notes $2,293,632.59 $0.00 $67_54 $5.85 $2,293,694.28 These accounts are not pan of the Treasurer's fund balances reported elsewhere in this report, as they are for separate and distinct entities. NOW I: This account includes redemption accounts set up for the repayment of interest and principal on outstanding bond coupons for Parking Assessment District T, as well as Reserve Fonds 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 corenucdon funds which will be expended over the next few years, reserve funds which will guarantee the payment of k:ase payments, and a third food For the disbursement of lease payments and initial delivery costs. Note 5: The 2010 COP Funds am all for the Ubmry constmction. reserves to guarantee lease payments, and a lease payment find for the life of the COP issue. The COI fund was closed in September 2010. Page 3 Iwtittru. Smvity Depwit Par Value Amort A.e.ee CUSIPk Qk4 Dme Rat. Town of Los Gatos Inactive Deposits by Institution Market to Cost Pwitka Report September 30, 2013 Original Cost Maturity Date Daya Dey.W Yddto Anrrelinn lAmnTaal�nnl Mnelll -tln, hale. FInn.M l..I AM1 Msn.nn. I- Ri Ran L, I-RwN f- n......, M....,F FVTnlln,a FNMA Coupon Note 07l1 11113 815,000.00 817,518.35 03/04/16 74 886 0.558% W INN, 791.N 445.03 1,076.69 87244EAG7 LAIF N/A 06/3W13 0.75% (194.12 ) Y4/2013 0 0.26% 941,60 789.03 2,686.66 Tout Orightal Cwt $51.572,036,65 1,062.34 952 0.66% $8399145 $385416N $32,87469 $10074314 Tout Amortized Coat ING Coupon Now 06/14/13 500,000.00 499,527.]8 102&13 IN 28 0.25 % Wl year $11,500,662.66 107.64 32192 449MOXU7 $6,985,012.50 13.54% 375.00 4/16/2013 2 -3 ywa $8,957,811.48 1737°/. 375.00 3.5 years $21.128,550.01 NY Life Coupon Note 01/25112 2,000,000.00 2,041,000.00 IVIN13 614 74 0.753% 51,18333 1,338.73 4,016.18 N952WAXl Market 1.850 36590.12 &132013 Cost Values Gdn(lca. 9885.92 SNYASSes $47,139,181.77 $46,665,699.94 FHLMC Coupon Note 09116/11 2,OO,NO.W 1026,080.00 08 /20/14 745 324 0.527% 7,069.45 38,555.55 965.93 2,897.]8 4.153. 705.33 31MG2UM 0.00 1.00% 18.175.49 &2&2013 $51,09$55482 -94n,41.83 1,375.10 FNMA Coupon Note 10/07111 1,200,000.00 1,296,875.00 OLl &IS 724 SW 0.1100/. 46,597.22 97138 1,914.13 313UMWI 1N% 27591.46 &182013 1.499.83 FHLB Coupon Now 01/25/13 ZSW,000.00 2,511,725.00 09/30/15 Nil Sr 0.278°/. 4.MS.19 958.73 2,876.19 313378X85 0.65% 3SNAI 4/ 13 4,T14.43 Trmsury Note 08/16/11 1,000,000.00 1,042,812.50 07131/15 776 669 Ob52/. 34,239.13 588.48 1,765.43 91M29NPI 1.75% 22,99135 7/31/M13 1,2,16.48 FNMA CdIaN.Note 09/17/13 1,00,000.00 2,133,600.00 0921/15 13 721 1.011% 97212 793.51 1,587.02 3136FRX73 43 &4 366.21 9/2112013 956.13 FNMA CellabI.Note 11/21/12 500,000.00 500,260.00 11/0 &15 184 767 0.473% 994.44 207,61 62283 3135GORS4 0.50% 70.26 5/6/X113 NSA6 Book HaN Couprm Note 01/16/12 1,25,000.00 1,315,137.50 12,15/15 613 806 1.077% 41,49.65 1,214.13 3,642.40 08966BNO 2.45/. 28,139.03 6/15/2013 4,328.43 FNMA Callable Note 052 &13 2,5001000.00 2,511,3005/0 09/29/16 130 942 03WtI. 1,018.71 3,056.14 3135GOWRO 0.63% 1,370.34 4/29/2013 4050.66 FNMA Callable Note 06/29112 2,WO,ON.W 2,005,700.00 OS?3/16 458 966 0.720% 15,750.00 1,38186 4,148.57 3135GOLD3 038% 1,833.29 5/TV2013 5,815.09 IBM Coupon Note 11/13/12 750,000.00 782,505.00 0727/16 321 1026 0.75!% 10,115.62 51130 1,533.90 459200%X3 1.954 7746.18 71222013 1,251.08 Treasury Note 0 8/16/11 1,00,000.00 1,025,390.63 07131/16 776 1035 0.973% 29,347.83 857.04 2,571.12 912828 XI 1.50%. 10,879.70 75IM13 1,742.51 SO Coupon Not. 1211 &12 500,000.00 526,020.00 IW15/16 286 1111 0962/. 3,818.75 4MAI LN3.23 60%17BXl 135°/. 5,32693 4/152013 2,410.10 FNMA Cdleblc Note ON14/13 1,500,000.00 I.5W,OOO.W IU14/16 139 1141 0.550. 710.42 ;131.25 3135GOWY5 0.550 0.00 5/1412013 3,185.42 FNMA Callable Note 04/04/13 4,000,000.00 4,W4,8N.00 03/14/17 119 1261 Ob2Y% 13,333.33 2,480.00 7,440.00 3135GOVM2 0.75% 5%,6 9114/1013 1283.33 FHLMC Callable Note 12120/12 1,00,000.00 1,009,900.00 0128117 284 1275 0.470°0 9,652.78 8]9.53 2,638,60 3134G3SW1 1.25 ° ° /. 1803,16 912WM13 63.09 Bak Ha01 Coupon Note 01/11/13 SW,WO.W 509,280.00 05115/17 262 1323 1.162% 1,755.56 50739 1,522.16 OM664BS9 Ib0/. 1,533.98 9]52013 2,28111 FHLMC CaBablo Not. 06/0&12 2,000,000.00 2,N7,7N.W 06/0&17 479 1345 LNO% 23,866.67 1,935.80 5,807.40 31MG3WW 1.M% 2,0225/9 6/62013 7,256.30 FHLMC Callable Note 0 9/19/13 2.5W,OW.W 2,501,2W.W WIW14 42 323 0.45T/. 974.47 5.774.98 31NG4ER5 0.50% (138.06 &192013 1,31696 FNMA Callabl.No1a IW19112 1,500,000.00 1,500,OW.00 N2W17 346 1451 0.9 % 23, 791.67 1,22180 3,665.40 3135GOPP2 180% 77980 92002013 396.38 FNMA Callable Note 11/30/12 1,000,000.00 1,003,2W.W N2W17 304 1451 0404% 3,055.56 804.59 2,413.76 3135GWP2 1.00% 554.30 920/2013 MIX FNMA Callable Note 12/04/12 I,W,000.W I,N2,750.W 00/20/17 300 1451 0.652/. 2,916.67 812.42 2,437.27 3135GOPP2 1.00% 471.16 92002013 263.64 FFCB Coupon Not. IWI &12 2,000,000.00 1,996,960.00 09/21/17 347 1452 0.862% 15,355.00 1,481.83 4445.49 3133EAY28 083% 586.37 9212013 430.21 FHLB Coupon Note 12,17112 2,W0,00O.W 1,998,720.00 11/08/17 292 1530 0.751% 7,333.33 013A4 3,94033 3133SIBM 0.754 205.14 6/&2013 4,827.98 FNMA Callable Note N/17/13 1,000,OOO.W 1,004,4W.W 03/0918 166 1617 0.623°/. 4,312.50 89225 2,676.75 3136GIER6 1.13 °% 409,65 9/52013 722.02 FNMA Cdlabl.Nto. 0 &14113 2,000,000.00 2,012,840.00 0024/18 108 1667 1.150% 2,359.09 7,07.26 31MG110N8 1.50% 781.25 4/142013 7,871.53 FNMA Callable Note 05/0 6113 3,OOO,WO.W 3,056,250.00 00/24118 147 1667 0.540% 2,913.73 8,741.18 3136GIKN8 1.50% 4,558.30 412412013 13,537.62 AML Ca sate Note 05/1&13 I,WO,000.W 991,680.01 05/0118 137 1676 1.172% 1,003.37 3,010.12 03M3A19 1.00"4 628.70 5/3/2013 4,475.56 Subtotal 47,139,I81.T/ Total Fwostimtion A.aetion to Data (178,652.61)._ AMUKII S CG$r TOIAL 46,960,529.16 BNY MM 272,080.10 30 W INN, Poloksse l lntaot 7,069.45 LAIF N/A 06/3W13 4,153,705.33 06/3W13 92 0 0.26% 941,60 789.03 2,686.66 Tout Orightal Cwt $51.572,036,65 952 0.66% $8399145 $385416N $32,87469 $10074314 Tout Amortized Coat $51393384.04 Maturity Profile Amount Peaent Wl year $11,500,662.66 22.30°% 1 -2yeas $6,985,012.50 13.54% 2 -3 ywa $8,957,811.48 1737°/. 3.5 years $21.128,550.01 96_79'/ $51,572,036.65 IW.W% Market to Cost Position Report A .rtaad Market lhuea4xed eS..Tmsory and ABmuY Obligations- Union BankofC.Mrnia Iwtinrcion Cost Values Gdn(lca. LAW baleares pa L oal Ag.nry lnvamsmt Fund mmUy statanents SNYASSes $47,139,181.77 $46,665,699.94 (473,48183) BNY MM 272,080.10 2]2080.10 O.W P Ias.d intern 7,069A5 7,069.45 0.00 LAIF 4.153. 705.33 415370533 0.00 Touts: $SI,572036 ,65 $51,09$55482 -94n,41.83 page 4 THIS PAGE INTENTIONALLY LEFT BLANK