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FY 2013/14 Second Quarterly Investment ReportoWN of �Og''�pj0`y COUNCIL AGENDA REPORT DATE: January 29, 2014 TO: MAYOR AND TOWN COUNCIL FROM: GREG LARSON, TOWN MANAGER MEETING DATE: 02/18/14 ITEM NO: a SUBJECT: FY 2013/14 QUARTERLY INVESTMENT REPORT (OCTOBER THROUGH DECEMBER 2013) RECOMMENDATION: Accept the attached Second Quarter Investment Report for FY 2013/14. DISCUSSION: Attached for your consideration is the Second 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: Second Quarter Investment Report for FY 2013/14 (October through December 2013) PREPARED BY: S AY Finance & Administr4Se s Dire ctor/ Town Treasurer Reviewed by: Assistant Town Manager jlaTown Attorney N:ITRMtaff Reports\201 I \Treasurer's Report - Q1 2013 2014.doc THIS PAGE INTENTIONALLY LEFT BLANK Town of Los Gatos Quarterly Investment Report (Month Ended December 31, 2013) Prepared by Linda L. Speicher, Project Manager 01/28/14 Town of Los Gatos Summary Investment Information December 31, 2013 Weighted Average Portfolio Yield: 0.65% This Month Last Month Portfolio Balance $61,233,560 $60,553,613 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) 881 One Year aeo $60,454,043 0.65% 0.66% 0.73% 0.27% 0.27% 0.33% 0.05% 0.08% 0.09% 0.08% 0.11% 0.13% 0.32% 0.30% 0.25% 1.30% 1.34% 0.77% 3.25% 3.25% 3.25% Most recent auctions of Freddie Mac or Fannie Mae Reference Notes: 3 yr. Freddie Mac (12/23/13) 0.88% Note: Both Fannie and Freddie have ceased offering 2 year notes for the time being. 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 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 56,000,000 J CS Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances December 31, 2013 Month Fund Balances - Beginning of Month/Period $60,553,613.20 Receipts 3,516,358.24 Disbursements (2,836,411.10) Fund Balances - End of Month/Period $61,233,560.34 Portfolio Allocation: BNY MM $335,483.99 US Govt Agencies & Corp. Bonds 47,171,000.11 Local Agency Investment Fund 4,156. 391.99 Subtotal - Investments 51,662,876.09 Reconciled Demand Deposit Balances 9,570,684.25 Total Treasurer's Fund $61,233,560.34 Portfolio Investment Allocation BNY MM Local Agency Investment Fund 0.65% 8.05 US Govt Agencies & Corp. Bonds 91.31% Treasurer's Fund Balances YTD $62,582,093.70 18,861,819.59 (20,210352.951 $61,233,560.34 o = m ; a a' 0 z 8 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 l: 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 Foods 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 fonds which will be expended over the next few years, reserve funds 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 a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010, Page 3 Town of Los Gatos Non - Treasury Restricted Fund Balances December 31, 2013 Previous Ending Balance De i Interest Withdrawals Balance Non - Treasury Funds: Downtown Parking District 12/20/02 $286,751.37 $59.74 $296,81L I I Nure t Cm. of Participation 2002 Series A Reserve Fund 686,251.19 5.66 5.66 686251.19 Nme 4 Cart. Of Participation 2002 Ser A lease Pymt Fund 0.00 0.00 0.00 Nure 4 Cert. of Participation 2002 Series A Const. Fund 38,167.12 0.00 38,167.12 Nme 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 Nme 5 COP 2010 library Good Faith 0.00 0.00 0.00 Nora 5 Tom] Restricted Funds: $2,288232.18 $0.00 $65_41 $5.67 $2288,291.92 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 l: 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 Foods 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 fonds which will be expended over the next few years, reserve funds 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 a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010, Page 3 Town of Los Gatos Statement of Interest Earned December 31, 2013 Interest by Month July 2013 Current Fiscal 28,632.45 Month Year to Date Interest received from Investments 12,391.52 156,998.11 Interest accrued/(prepaid) at end of period (see page 5) - 95,130.94 - 95,130.94 Interest accrued/(prepaid) at beginning of period - 111,313.27 - 107,515.26 Interest earned on investments $28,573.85 $169,382.43 Interest by Month July 2013 $23,848.13 August 2013 28,632.45 September 2013 30,806.45 October 2013 29,247.43 November 2013 28,274.12 December 2013 28,573.85 January 2014 February 2014 March 2014 April 2014 May 2014 June 2014 $169,382.43 Page 4 page 5 Town of Los Gatos Inactive Deposits by Institution Market to Cost Position Report December 31, 2013 Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest Institution Security Date Cost Date Elan sed Maturity Invested Mamri Earned Received Accrued ING CP 10/29/13 499,226.67 0421114 63 Ill 174 0.325% 280.05 280.05 SOCNAM CP 12/13/13 998,791.67 05/07/14 18 127 145 0.305% 150.23 150.23 FHLMC Callable Note 08/19113 2,501,200.00 08/19/14 134 231 365 0.452% 4,150.48 4,150.48 FHLMC Coupon Note 09/16/11 2,026,080.00 0820114 837 232 1069 0.527% 24,484.98 38,555.55 (14,070.57) FNMA Coupon Note 10/07/11 1,296,875.00 02/18/15 816 414 1230 0.866% 25,108.07 46,597.22 (21,489.15) PFIZER Coupon Note 12113/13 1,061,250.00 03115115 18 439 457 0.454% 237.60 237.60 FHLB Coupon Note 0125/13 2,511,725.00 04/30/15 340 485 825 0.278% 6,504.34 12,413.19 (5,908.85) Treasury Note 08/16/11 1,042,812.50 07/31115 868 577 1445 0.652% 16,168.91 34,239.13 (18,070.22) GE Corporate Note 09/17/13 2,133,600.00 0921/15 105 629 734 1.011% 6,205.27 972.22 5,233.05 FNMA Callable Note 1220/12 500,260.00 11/06/15 376 675 1051 0.473% 2,437.54 2,194.44 243.10 Berk Hath Coupon Note 01/26/12 1,315,137.50 12115/15 705 714 1419 1.077% 27,357.92 57,762.15 (30,404.23) FNMA Callable Note 07/18/13 817,518.35 03/04/16 166 794 960 0.558% 2,074.66 781.04 1,293.62 FNMA Callable Note 0523113 2,511,300.00 0429/16 222 850 1072 0.390% 5,956.94 6,770.83 (813.89) FNMA Callable Note 0629112 2,005,700.00 0523/16 550 874 1424 0.720% 21,760.47 24,500.00 (2,739.53) IBM Coupon Note 11/13112 782,505.00 07122/16 413 934 1347 0.757% 6,702.55 10,115.62 (3,413.07) Treasury Note 08/16/11 1,025,390.63 07/31116 868 943 1811 0.973% 23,726.25 29,347.83 (5,621.58) SO Coupon Note 12118/12 526,020.00 10/15/16 378 1019 1397 0.962% 5,240.54 9,693.75 (4,453.21) FNMA Callable Note 05/14/13 1,500,000.00 11/14/16 231 1049 1280 0.550% 5,221.23 4,125.00 1,096.23 FNMA Callable Note 04/04/13 4,004,800.00 03/14/17 271 1169 1440 0.621% 18,464.98 13,333.33 5,131.65 FHLMC Callable Note 1220/12 1,009,900.00 0328/17 376 1183 1559 0.470% 4,889.58 9,652.78 (4,763.20) Berk Hath Coupon Note 01/11/13 509,280.00 05/15/17 354 1231 1585 1.162% 5,739.49 6,755.56 (1,016.07) FHLMC Callable Note 06/08/12 2,007,700.00 06/06/17 571 1253 1824 1.000% 31,408.13 35,866.67 (4,458.54) FNMA Callable Note 10/19/12 1,504,050.00 0920/17 438 1359 1797 0.944% 17,037.88 23,791.67 (6,753.79) FNMA Callable Note 11/30112 1,003,200.00 0920/17 396 1359 1755 0.604% 6,573.96 3,055.56 3,518.40 FNMA Callable Note 12/04/12 1,002,750.00 0920/17 392 1359 1751 0.652% 7,021.56 2,916.67 4,104.89 FFCB Coupon Note 10/18/12 1,996,960.00 09/21/17 439 1360 1799 0.862% 20,703.72 15,355.00 5,348.72 FHLB Coupon Note 12/12/12 1,998,720.00 12108/17 384 1438 1822 0.751% 15,791.75 14,833.33 958.42 FNMA Callable Note 04/17/13 1,004,400.00 03/05/18 258 1525 1783 0.623% 4,423.05 4,312.50 110.55 FNMA Callable Note 06/14/13 2,012,840.00 0424/18 200 1575 1775 1.150% 12,683.65 10,833.33 1,850.32 FNMA Callable Note 05/06/13 3,056,250.00 0424118 239 1575 1814 0.540% 10,806.57 21,000.00 (10,193.43) AAPL Corporate Note 05/16/13 991,680.01 05/03/18 229 1584 1813 1.172% 7,291.92 4,638.89 2,653.03 Subtotal 47,157,922.33 BNY MM 335,483.99 30 30 0.00% 0.00 0.00 Purchased Interest 13,077.78 LAIF N/A 09/30/13 4,156,391.99 12/31/13 92 0 92 0.27% 2,678.08 2,678.08 $51,662,876.09 881 0.65% $349 282 32 W4,413.26 ($95,130.94) Maturity Profile Amount Percent 0 -1 year $10,530,252.10 20.38% 1 -2 years $9,861,660.00 19.09% 2 -3 years $9,168,433.98 17.75% 3 -5 years $22,102,530.01 42.78% $51,662,876.09 100.00% Market to Cost Position Report Amortized Market Unrealized * Source: Treasury and Agency Obligations - Bank of New York Institution Cost Value* Gain (Loss l LAW balances per Local Agency Investment Fund monthly statement. BNY Assets $47,157,922.33 $93,976,667.01 46,818,744.68 BNY MM 335,483.99 335,483.99 0.00 Purchased Interest 13,077.78 13,077.78 0.00 LAIF _ 4,156,391.99 415639199 000 Totals: $51,662,876.09 $98,481,620.77 $46,818,744.69 page 5 Town of Los Gatos Quarterly Investment Report (Month Ended November 30, 2013) Prepared by Linda L. Speicher, Project Manager 01/28/14 Town of Los Gatos Summary Investment Information November 30, 2013 Weighted Average Portfolio Yield: 0.66% This Month Last Month Portfolio Balance $60,553,613 $60,167,771 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) 899 One year ago $61,034,252 0.66% 0.66% 0.75% 0.26% 0.27% 0.32% 0.08% 0.05% 0.10% 0.11% 0.08% 0.15% 0.30% 0.32% 0.27% 1.34% 1.30% 0.64% 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 — - 2 - 3 years 20% 0- 1 year I - 2 years 15% 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 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 56,000.000 i; z Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances November 30, 2013 Month Fund Balances - Beginning of Month/Period $60,167,771.27 Receipts 3,470,475.69 Disbursements (3,084,633.76) Fund Balances - End of Montb/Period $60,553,613.20 Portfolio Allocation: BNY MM $355,290.94 US Govt Agencies & Corp. Bonds 47,138,880.66 Local Agency Investment Fund 4.156,391.99 Subtotal - Investments 51,650,563.59 Reconciled Demand Deposit Balances 8.903,049.61 Total Treasurer's Fund $60,553,613.20 Portfolio Investment Allocation BNY MM Local Agency Investment Fund 0.69% 8.05% US Govt Agencies & Corp. Bonds 9126% Treasurer's Fund Balances YTD $62,582,093.70 15,345,461.35 (17.373,941.85) $60,553,613.20 ^ _ page 2 These accounts are not part of the Treasurers 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 T, as well as Reserve Funds set up as required by the original Bond msolution. 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 fund for the disbursement of lease payments and initial delivery costs. Note 5: The 2010 COP Funds an all for the Library construction, reserves to guarantee lease payments, and a lease payment fund for the life of the COP issue. The CO] fund was closed in September 2010. Page 3 Town of Los Gatos Non - Treasury Restricted Fund Balances November 30, 2013 previous Ending Balance Deoosits Interest Withdrawals Balance Non - Treasury Fonds: Downtown Parking District 12/20/02 $286,689.65 $61.72 $286,751.37 Note t Cert. of Participation 2002 Series A Reserve Fund 686,251.19 5.85 5.85 686,251.19 N.I. 4 Cart. Of Participation 2002 Ser A Lease Pymt Fund 0.00 0.00 0.00 Non 4 Cen. of Participation 2002 Series A Const. Fund 38,167.12 0.00 38,167.12 Non 4 COP 2010 Library Reserve Fund 1,277,062.50 0.01 0.01 1,277,062.50 Nan 5 COP 2010 Library Lease Fund 0.00 0.00 0.00 Non 5 COP 2010 Library ACQ Construction Fund 0.00 0.00 0.00 Nme 5 COP 2010 Library COI Fond 0.00 0.00 0.00 Note 5 COP 2010 Library Good Faith 0.00 0.00 0.00 Now 5 Total Restricted Funds: $2,288,170.46 $100 $6758 $516 $2,288,232.18 These accounts are not part of the Treasurers 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 T, as well as Reserve Funds set up as required by the original Bond msolution. 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 fund for the disbursement of lease payments and initial delivery costs. Note 5: The 2010 COP Funds an all for the Library construction, reserves to guarantee lease payments, and a lease payment fund for the life of the COP issue. The CO] fund was closed in September 2010. Page 3 Interest received from Investments Interest accrue&(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 November 30, 2013 Interest by Month July 2013 August 2013 September 2013 October 2013 November 2013 December 2013 January 2014 February 2014 March 2014 April 2014 May 2014 June 2014 Page 4 Current Fiscal Month Year to Date 22,832.75 144,606.59 - 111,313.27 - 111,313.27 - 116,754.64 - 107,515.26 $28,274.12 $140,808.58 $23,848.13 28,632.45 30,806.45 29,247.43 28,274.12 $140,808.58 page 5 Town of Los Gatos Inactive Deposits by Institution Market to Cost Position Report November 30, 2013 Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest Institution Security Date cost Date Elapsed Maturi Invested ManuiN Eamed Received Accrued NY Life Coupon Note 01/25/12 2,041,000.00 12/13/13 675 13 688 0.753% 28,421.62 51,183.33 (22,761.71) ING CP 10/29/13 499,226.67 04/21114 32 142 174 0.320% 140.06 140.06 FHLMC Callable Note 08/19113 2,501,200.00 08/19/14 103 262 365 0.452% 3,190.30 3,190.30 FHLMC Coupon Note 09/16/11 2,026,080.00 08/20/14 806 263 1069 0.527% 23,578.13 38,555.55 (14,977.42) FNMA Coupon Note 10/07/11 1,296,875.00 02118/15 785 445 1230 0.866% 24,154.21 46,597.22 (22,443.01) FHLB Coupon Note 01/25/13 2,511,725.00 04/30/15 309 516 825 0.278% 5,911.29 12,413.19 (6,501.90) Treasury Note 08/16/11 1,042,812.50 07/31/15 837 608 1445 0.652% 15,591.45 34,239.13 (18,647.68) GE Corporate Note 09/17/13 2,133,600.00 0921/15 74 660 734 1.011% 4,373.24 972.22 3,401.02 FNMA Callable Note 1220/12 500,260.00 11/06/15 345 706 1051 0.473% 2,236.57 2,194.44 42.13 Berk Herb Coupon Note 0126/12 1,315,137.50 12/15/15 674 745 1419 1.077% 26,154.95 42,449.65 (16,294.70) FNMA Callable Note 07/18/13 817,518.35 03/04/16 135 825 960 0.558% 1,687.22 781.04 906.18 FNMA Callable Note 0523/13 2,511,300.00 0429/16 191 881 1072 0.390% 5,125.12 6,770.83 (1,645.71) FNMA Callable Note 0629/12 2,005,700.00 0523116 519 905 1424 0.720% 20,533.97 24,500.00 (3,966.03) IBM Coupon Note 11/13112 782,505.00 07/22/16 382 965 1347 0.757% 6,199.45 10,115.62 (3,916.17) Treasury Note 08116/11 1,025,390.63 07/31/16 837 974 1811 0.973% 22,878.88 29,347.83 (6,468.95) SO Coupon Note 12/18/12 526,020.00 10/15/16 347 1050 1397 0.962% 4,810.76 9,693.75 (4,882.99) FNMA Callable Note 05/14/13 1,500,000.00 11/14/16 200 1080 1280 0.550% 4,520.55 4,125.00 395.55 FNMA Callable Note 04/04/13 4,004,800.00 03/14/17 240 1200 1440 0.621% 16,352.75 13,333.33 3,019.42 FHLMC Callable Note 1220/12 11009,900.00 0328/17 345 1214 1559 0.470% 4,486.45 9,652.78 (5,166.33) Berk Hath Coupon Note 01/11/13 509,280.00 05/15/17 323 1262 1585 1.162% 5,236.88 6,755.56 (1,518.68) FHLMC Callable Note 06/08/12 2,007,700.00 06/06/17 540 1284 1824 1.000 °% 29,702.96 23,866.67 5,836.29 FNMA Callable Note 10/19/12 1,504,050.00 0920/17 407 1390 1797 0.944% 15,832.00 23,791.67 (7,959.67) FNMA Callable Note 11/30/12 1,003,200.00 0920117 365 1390 1755 0.604% 6,059.33 3,055.56 3,003.77 FNMA Callable Note 12104112 1,002,750.00 0920/17 361 1390 1751 0.652% 6,466.28 2,916.67 3,549.61 FFCB Coupon Note 10/18/12 1,996,960.00 0921/17 408 1391 1799 0.862% 19,241.72 15,355.00 3,886.72 FHLB Coupon Note 12/12/12 1,998,720.00 12/08/17 353 1469 1822 0.751% 14,516.90 7,333.33 7,183.57 FNMA Callable Note 04/17/13 1,004,400.00 03/05/18 227 1556 1783 0.623% 3,891.60 4,312.50 (420.90) FNMA Callable Note 06114/13 2,012,840.00 0424/18 169 1606 1775 1.150% 10,717.68 10,833.33 (115.65) FNMA Callable Note 05/06/13 3,056,250.00 04124/18 208 1606 1814 0.540% 9,404.88 21,000.00 (11,595.12) AAPL Corporate Note 05116113 991680.01 05/03/18 198 1615 1813 1.172% 6,304.80 4,638.89 1,665.91 Subtotal 47,138,880.66 BNY MM 355,290.94 30 30 0.00% 0.00 0.00 Purchased Interest LAIF N/A 09/30/13 4,156,391.99 12/31/13 61 31 92 0.26% 1,748.82 1,748.82 $51,650,563.59 899 0.66% $349,470,82 $460,784.09 ($111,313.27) Maturity Profile Amount percent 0 -1 year $11,579,189.60 22.42% 1 -2 years $7,485,272.50 14.49% 2 -3 years $10,483,571.48 20.30% 3 -5 years $22,102,530.01 42.79% $51,650,563.59 100.00% Market to Cost Position Report Amortized Market Unrealized • Source: Treasury and Agency Obligations - Bank of New York Institution Cost Value- Gain (Loss) LAW balances per Local Agency Investment Fund monthly statement. BNY Assets $47,138,880.66 $46,818,744.68 (320,135.98) BNY MM 355,290.94 355,290.94 0.00 Purchased Interest 0.00 0.00 0.00 LAW _ 4,156 391.99 4,156 391 99 0.00 Totals: $51,650,563.59 $51,330,427.61 4320,135.98 page 5 Town of Los Gatos Quarterly Investment Report (Month Ended October 31, 2013) Prepared by Linda L. Speicher, Project Manager 01/28/14 LK Town of Los Gatos Summary Investment Information October 31, 2013 Weighted Average Portfolio Yield: 0.66% This Month Last Month Portfolio Balance $60,167,771 $59,688,925 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) 930 One -year aeo $67,870,290 0.66% 0.66% 0.72% 0.27% 0.26% 0.34% 0.05% 0.01% 0.13% 0.08% 0.04% 0.16% 0.32% 0.35% 0.30% 130% 1.41% 0.77% 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. 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 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 56,000,000 ry O Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances October 31, 2013 Month YTD Fund Balances - Beginning of Month/Pericd $59,688,925.39 $62,582,093.70 Receipts 2,970,189.68 11,874,985.66 Disbursements (2,491,343.80) (14,289308.09) Fund Balances - End of Month/Period $60,167,771.27 $60,167,771.27 Portfolio Allocation: BNY MM $332,165.94 US Govt Agencies 47,139,241.77 Local Agency Investment Fund 4.156.391.99 Subtotal - Investments 51,627,799.70 Reconciled Demand Deposit Balances 8.539.971.57 Total Treasures Fund $60,167,771.27 Portfolio Investment Allocation BNY MM Local Agency Investment Fund 0.64% 8.05% I US Govt Agencies 91.31% Treasurer's Fund Balances page 2 Town of Los Gains Non - Treasury Restricted Fund Balances October31,2013 Non - Treasury Funds: Downtown Parking District 12/20/02 Cert. of Participation 2002 Series A Reserve Fund Cen. Of Participation 2002 Set A Lease Pym1 Fund Cert. of Participation 2002 Series A Const. Fund COP 2010 Library Reserve Fond COP 2010 Libmry Lease Fund COP 2010 Library ACQ Concoction Fond COP 2010 Library COI Fond COP 2010 Library Good Faith Total Restricted Funds: Previous Ending Balance Degisi Interest Withdrawals Bal om $286,629.94 $59.71 $286,689.65 N.I. t 686,251.19 5.66 5.66 686,251.19 Nan4 0.00 0.00 0.00 Noted 43,750.65 25.47 5,609.00 38,167.12 No,4 1,277,062.50 0.00 1,277,062.50 Non5 0.00 0.00 0.00 Noh5 0.00 0.00 0.00 Nan, 5 0.00 0.00 0.00 Non5 0.00 0.00 0.00 Note 5 $2,293,694.28 $0.00 $90.84 $5,614.66 $2,288,170.46 These accounts are not pan of the Treasurers 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 yea., reserve funds 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 a lease payment fund for the life of the COP issue. The COI 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 October 31, 2013 Interest by Month July 2013 August 2013 September 2013 October 2013 November 2013 December 2013 January 2014 February 2014 March 2014 April 2014 May 2014 June 2014 Page 4 Current Fiscal Month Year to Date 55,973.22 121,773.84 - 116,754.64 - 116,754.64 - 90,028.85 - 107,515.26 $29,247.43 $112,534.46 $23,848.13 28,632.45 30,806.45 29,247.43 $112,534.46 page 5 Town of Los Gatos Inactive Deposits by Institution Market to Cost Position Report October 31, 2013 Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest Institution Security Date Cost Date Elapsed Maturiry Invested Maturi Earned Received Acerucd ING CP 10/29/13 499,226.67 04/21/14 2 172 174 0.320% 8.75 8.75 NY Life Coupon Note 01/25112 2,041,000.00 12/13/13 645 43 688 0.753% 27,158.44 51,183.33 (24,024.89) FHLMC Callable Note 08/19/13 2,501,200.00 08/19/14 73 292 365 0.452% 2,261.08 2,261.08 FHLMC Coupon Note 09/16/11 2,026,080.00 08/20/14 776 293 1069 0.527% 22,700.53 38,555.55 (15,855.02) FNMA Coupon Note 10/07/11 1,296,875.00 02118/15 755 475 1230 0.866% 23,231.12 46,597.22 (23,366.10) FHLB Coupon Note 01/25/13 2,511,725.00 04/30/15 279 546 825 0.278% 5,337.38 12,413.19 (7,075.81) Treasury Note 08/16/11 1,042,812.50 07/31/15 807 638 1445 0.652% 15,032.61 34,239.13 (19,206.52) GE Corporate Note 09/17/13 2,133,600.00 09/21/15 44 690 734 1.011% 2,600.30 972.22 1,628.08 FNMA Callable Note 12/20/12 500,260.00 11/06/15 315 736 1051 0.473% 2,042.09 944.44 1,097.65 Berk Hath Coupon Note 01/26/12 1,315,137.50 12/15/15 644 775 1419 1.077% 24,990.78 42,449.65 (17,458.87) FNMA Callable Note 07/18/13 817,518.35 03/04/16 105 855 960 0.558% 1,312.28 781.04 531.24 FNMA Callable Note 05/13/13 2,511,300.00 04129/16 161 911 1072 0.390% 4,320.12 6,770.83 (2,450.71) FNMA Callable Note 06/29/12 2,005,700.00 05123/16 489 935 1424 0.720% 19,347.04 15,750.00 3,597.04 IBM Coupon Note 11/13/12 782,505.00 0722/16 352 995 1347 0.757% 5,712.59 10,115.62 (4,403.03) Treasury Note 08/16/11 1,025,390.63 07/31/16 807 1004 1811 0.973% 22,058.85 29,347.83 (7,288.98) SO Coupon Note 12/18/12 526,020.00 10/15/16 317 1080 1397 0.962% 4,394.85 9,693.75 (5,298.90) FNMA Callable Note 05/14113 1,500,000.00 11/14/16 170 1110 1280 0.550% 3,842.47 3,842.47 FNMA Callable Note 04104113 4,004,800.00 03114/17 210 1230 1440 0.621% 14,308.66 13,333.33 975.33 FHLMC Callable Note 1220/12 1,009,900.00 0328/17 315 1244 1559 0.470% 4,096.32 9,652.78 (5,556.46) Berk Hath Coupon Note 01111113 509,280.00 05115/17 293 1292 1585 1.162% 4,750.48 2,755.56 1,994.92 FHLMC Callable Note 06/08/12 2,007,700.00 06/06/17 510 1314 1824 1.000% 28,052.79 23,866.67 4,186.12 FNMA Callable Note 10/19/12 1,504,050.00 0920/17 377 1420 1797 0.944% 14,665.02 23,791.67 (9,126.65) FNMA Callable Note 11/30/12 1,003,200.00 0920117 335 1420 1755 0.604% 5,561.30 3,055.56 2,505.74 FNMA Callable Note 12/04/12 1,002,750.00 0920/17 331 1420 1751 0.652% 5,928.92 2,916.67 3,012.25 FFCB Coupon Note 10/18/12 1,996,960.00 0921/17 378 1421 1799 0.862% 17,826.89 15,355.00 2,471.89 FHLB Coupon Note 12112/12 1,998,720.00 12/08/17 323 1499 1822 0.751% 13,283.16 7,333.33 5,949.83 FNMA Callable Note 04/17/13 1,004,400.00 03105118 197 1586 1783 0.623% 3,377.29 4,312.50 (935.21) FNMA Callable Note 06/14/13 2,012,840.00 0424/18 139 1636 1775 1.150% 8,815.14 10,833.33 (2,018.19) FNMA Callable Note 05/06/13 3,056,250.00 0424/18 178 1636 1814 0.540% 8,048.40 21,000.00 (12,951.60) AAPL Corporate Note 05/16/13 991,680.01 05/03/18 168 1645 1813 1.172% 5,349.53 5,349.53 Subtotal 47,138,880.66 BNY MM 332,165.94 30 30 0.000/0 0.00 0.00 Purchased Interest 361.11 LAIF N/A 09/30/13 4,156,391.99 12/31/13 31 61 92 0.27% 850.36 850.36 $51,627,799.70 930 0.66% $321,265.56 $438,020.20 ($116,754.64) Maturity Profile Amount Percent 0 -1 year $11,556,425.71 22.38% 1 -2 years $6,985,012.50 13.53% 2 -3 years $9,483,831.48 18.37% 3 -5 years $23,602,530.01 45 $51,627,799.70 100.00% 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 $47,138,880.66 $46,789,688.18 (349,192.48) BNY MM 332,165.94 332,165.94 0.00 Purchased Interest 361.11 361.11 0.00 LAIF 4,156,391.99 4,156,391.99 0.00 Totals: $51,627,799.70 $51,278,607.22 - $349,192.48 page 5