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