2�pW N 0
SOS G A 0`'
DATE:
TO:
FROM:
SUBJECT:
MEETING DATE: 08/19/13
ITEM NO:
COUNCIL AGENDA REPORT
August 4, 2013
MAYOR AND TOWN COUNCIL
GREG LARSON, TOWN MANAGER
FY 2012/13 QUARTERLY INVESTMENT REPORT (APRIL THROUGH JUNE 2013)
RECOMMENDATION:
Accept the attached Fourth Quarter Investment Report for FY 2012/13.
DISCUSSION:
Attached for your consideration is the Fourth Quarter Investment Report for FY 2012/13.
During fiscal 2012/13 the Town's overall investment rate of return dropped from .97% to .66 %. This is
still a much better rate of return than either LAIF or Treasuries. No rise in interest rates is expected for a
couple of years.
Overall, the Treasurer's Funds are now approximately $62,582,000, down substantially from the first
pall of the fiscal year due to the transfer of approximately $15M of RDA money to the county as a result
of the dissolution of the RDA and Due Diligence Reviews. The maturity profile shown on page 1 of the
report is based on the final maturities of investments, not taking into account that many of the
investments are callable bonds which more than likely will be called before their final maturity. Thus
the actual average maturity of the investments is likely shorter than. the _1,073_ days- shown on- the .last
page of the report. This has been part of the investment strategy for the last year, in order to be
positioned to take advantage of higher rates when they do finally appear.
FISCAL IMPACT:
None
Attachment:
Fourth Quarter Investment Report for FY 2012/13 (April through June 2013)
PREPARED BY: STEVE CONWAY
Finance & Administrative Services Director/ Town Treasurer
Reviewed by: fa Assistant Town Manager Town Attorney Finance
N: \TRS \Staff Reports\2011 \Treasurer's Report - Q4 2012 2013.doc
THIS PAGE
INTENTIONALLY
LEFT BLANK
Town of Los Gatos
Quarterly Investment Report
(Month Ended June 30, 2013)
Prepared by
Linda L. Speicher, Project Manager
08/01/13
Town of Los Gatos
Summary Investment Information
June 30, 2013
Weighted Average Portfolio Yield: 0.66% Weighted Average Maturity (days) 1073
This Month Last Month One year ago
Portfolio Balance $62 ,582,094 $62,001,292 $75,558,782
Benchmarks/ References:
Town's Average Yield
0.66%
0,64%
0.97%
LAIF Yield for month
0.25%
0.26%
0.37%
3 mo. Treasury
0.06%
0,05%
0.10%
6 mo. Treasury
0.11%
0.08%
0.15%
2 yr. Treasury
0.43%
0.28%
0.31 %
5 yr. Treasury (most recent)
1.48%
1.05%
0.75%
Prime rate
3.25%
3.25%
3.25%
Most recent auctions of
Freddie Mae or Fannie Mae Reference Notes:
3 yr. Fannie Mae (05/17/13) 0.49%
Note: Both Fannie and Freddie have ceased offering 2 year notes for the time being.
Compliance: The Town's investments are in compliance to ith 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 Pund Balances
June 30, 2013
Month
Fund Balances - Beginning of Month/Peniod
$62,001,292.30
Receipts
4,548,495.70
Disbursements
(3,967,694.30)
Fund Balances - End of Month/Period
$62,582,093,70
Portfolio Allocation:
BNY MM
$253,736.43
US Govt Agencies
47,103,283.99
Local Agency Investment Fund
4,149,984.68
Subtotal - Investments
51,507,005.10
Reconciled Demand Deposit Bahnices
11,075,088.60
Total Treasurer's Fund
$62,582,093.70
Portfolio Investment Allocation
BNY MM
Local Agency Investment Fund 0,49%
8.06%
US Govt Agencies
91.45%
YTD
$75,558,782.33
42,601,584.91
(55,578,273.54)
$62,582,093.70
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 fiords for the Certificates of Participation 2002 Series A consist of canstruction funds which will be expended over the
next few years, reserve fiords which will guarantee the payment of lease payments, and a third fiord 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 find for the
life of the COP issue. The COI fund was closed in September 2014:
Page 3
Town of Los Gatos
Non - Treasury Restricted Fund Balances
June 30, 2013
Previous
Ending
Balance Deposits
Interest
Withdrawals
Balance
Non - Treasury Funds:
Downtown Parking District 12/20/02
$286,385.24
$61.65
$286,446.89
Note t
Cell. 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 Pymt Fund
0.00
0.00
0.00
Note 4
Cell. of Participation 2002 Series A Const. Fund
42,617.75
0.00
42,617.75
Nate 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 s
Total Restricted Funds:
$2,292,316.68 $0.00
$67.51
$5.86
$2,292,378.33
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 fiords for the Certificates of Participation 2002 Series A consist of canstruction funds which will be expended over the
next few years, reserve fiords which will guarantee the payment of lease payments, and a third fiord 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 find for the
life of the COP issue. The COI fund was closed in September 2014:
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
June 30, 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
61,192.04 496,952.83
- 107,515.26 - 107,515.26
- 91,945.62 - 2,568.42
$45,622.40 $392,005.99
$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
20,417.73
- 12,196.81
45,622.40
$392,005.99
Town of Los Gatos
Inactive Deposits by Institution
Market to Cost Position Repot
June 30, 2013
Maturity Profile
0 -1 year
1 -2 years
2 -3 years
3 -5 years
Market to Cost Position Repot
Maturity
Days
Deposit
Amortized
Institution
Security
Date
Cost
TIAA
Corporate Note
04/11/11
880,446.95
NY Life
Coupon Note
01/25/12
2,041,000.00
FHLMC
Coupon Note
09 /16/11
2,026,080.00
FNMA
Coupon Note
10/07/11
1,296,875.00
FHI,B
Coupon Note
01/25/13
2,511,725.00
Treasury
Note
08/16/11
1,042,812.50
FNMA
Callable Note
09 /09/11
2,000,000.00
FNIAA
Callable Note
12/20/12
500,260.00
Berk Hath
Coupon Note
01 /26/12
1,315,137.50
FNMA
Callable Note
05/23/13
2,511,300.00
FNMA
Callable Note
06/29/12
2,005,700.00
IBM
Coupon Note
11/13/12
782,505.00
Treasury
Note
08/16/11
1,025,390.63
SO
Coupon Note
12/18/12
526,020.00
FNMA
Callable Note
05/14/13
1,500,000.00
FNMA
Callable Note
04/04/13
4,004,800.00
FHLMC
Callable Note
12/20/12
1,009,900.()0
Berk Hath
Coupon Note
01/11/13
509,280.00
FHLMC
Callable Note
06 /08/12
2,007,700.00
FNMA
Callable Note
06/14/13
2,012,840.00
FHLIvIC
Callable Note
01/11/13
2,525,925.00
FNMA
Callable Note
10/19/12
1,504,050.00
FNMA
Callable Note
11/30/12
1,003,200.00
FN1\4A
Callable Note
12/04/12
1,002,750.00
FFCB
Coupon Note
10/18/12
1,996,960.00
FHLB
Coupon Note
12/12/12
1,998,720.00
FNMA
Callable Note
04 /17/13
1,004,400.00
FNMA
Callable Note
05/06/13
3,056,250.00
AAPL
Corporate Note
05 /16/13
991,680.01
ING
Coupon Note
06/14/13
499,527.78
Subtotal
47
1233
47,093,235.37
BNY MM
1,062.33
253,736.43
Purchased Iuterest
87
1353
10,048.62
LAIF
N/A
03/31/13
4,149,984,68
Maturity Profile
0 -1 year
1 -2 years
2 -3 years
3 -5 years
Market to Cost Position Repot
Maturity
Days
Days to
Days
Yield to
Interest
Interest
Interest
Date
Elapse
Maturit
Invested
Maturit
Earned
Received
Accrued
07/15/13
811
15
826
1.334%
26,096.79
71,047.62
(44,950.83)
12/13/13
522
166
688
0.753%
21,979.39
51,183.33
(29,203.94)
08/20/14
653
416
1069
0.527%
19,102.38
28,555.55
(9,453.17)
02/18/15
632
598
1230
0.866%
19,446.45
34,097.22
(14,650.77)
04/30/15
156
669
825
0.278%
2,984.34
4,288.19
(1,303.85)
07/31/15
684
761
1445
0.652%
12,741.40
25,489.13
(12,747.73)
09/09/15
660
801
1461
1.000%
36,164.38
30,000.00
6,164.38
11/06/15
192
859
1051
0.473%
1,244.70
944.44
300.26
12/15/15
521
898
1419
1.077%
20,217.70
42,449.65
(22,231.95)
04/29/16
38
1034
1072
0.390%
1,019.66
1,019.66
05/23/16
366
1058
1424
0.800%
16,089.56
15,750.00
339.56
07/22/16
229
1118
1347
0.757%
3,716.43
2,803.12
913.31
07131/16
684
1127
1811
0.973%
18,696.72
21,847.83
(3,151.11)
10/15/16
194
1203
1397
0.962%
2,689.59
3,818.75
(1,129.16)
11/14/16
47
1233
1280
0.550%
1,062.33
1,062.33
03/14/17
87
1353
1440
0.621%
5,927.87
5,927.87
03/28/17
192
1367
1559
0.470%
2,496.80
3,402.78
(905.98)
05/15/17
170
1415
1585
1.162%
2,756.25
2,755.56
0.69
06/06/17
387
1437
1824
1.120%
23,841.58
23,866,67
(25.09)
04/24/18
16
1759
1775
1.150%
1,014.69
1,014.69
08/14/17
170
1506
1.676
0.244%
2,870,56
4,583.33
(1,712.77)
09/20/17
254
1543
1797
0.707%
7,399.84
6,291.67
1,108.17
09/20/17
212
1543
1755
0.604%
3,519.39
3,055.56
463.83
09/20/17
208
1543
1751
0.652%
3,725.72
2,916.67
809.05
09/21/17
255
1544
1799
0.862%
12,026.08
7,055.00
4,971.08
12/08/17
200
1622
1822
0.751%
8,224.87
7,333.33
891.54
03/05/18
74
1709
1783
0.623%
1,268.63
1,268.63
04/24/18
55
1759
1814
0.540%
2,486.87
2,486.87
05/03/18
45
1768
1813
1.172%
1,432.91
1,432.91
10/28/13
16
120
136
0.254%
55.62
55.62
30
30
0.00%
0.00
0.00
06/30/13
91
0
91
0.25%
3,720.65
3,720.65
$51,507,005.10 1073 _ 0.66% $28b,UZU. 14 �;JYJ,6J6.4U (�;1U /,)16.26).
Amount
Percent
$7,834,744.46
15.21%
$5,834,680.00
11.33%
$9,375,210.00
18.20%
$28,462,370.64
55.26%
$51,507,005.10
100.00%
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*
Gain (Loss)
BNY Assets
$47,093,235.37
$46,410,902.63
(682,332.74)
BNY MM
253,736.43
253,736.43
0.00
Purchased Interest
10,048.62
10,048.62
0.00
LAIF
4,149,984.68
4,149,984.68
0.00
Totals:
$51,507,005.10
$50,824,672.36
- $682,332.74
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 May 31, 2013)
Prepared by
Linda L. Speicher, Project Manager
08/01/13
Town of Los Gatos
Summary Investment Information
May 31, 2013
Weighted Average Portfolio Yield: 0,63% Weighted Average Maturity (days)
This Month Last Month One year ago
Portfolio Balance $62,001,292 $69,389,221 $77,909,764
Benchmarks/ References:
Town's Average Yield
0.63%
0.64%
1.02%
LA1F Yield for month
0.26%
0.26 %
0.37%
3 mo. Treasury
0.05%
0.05%
0.09%
6 mo. Treasury
0.08%
0.08%
0.14 %
2 yr. Treasury
0.28%
0.23%
0.30%
5 yr. Treasury (most recent)
1.05%
0.71%
0.75%
Prime rate
3.25%
3.25%
3.25%
Most recent auctions of
Freddie Mac or Fannie Mae Reference Notes:
3 yr. Famaie Mae (05/17/13) 0.49%
Note: Both Fannie and Freddie have ceased offering 2 year notes for the time being.
1105
Compliance: The Town's investments are in compliance «,ith the Town's investment policy dated May 1, 2008
and also in compliance Nvith the requirements of Section 53601 of the California State Code. Based on the information available, the
Town has sufficient finds to meet the cash demands for the next six months.
Page 1
Toren of Los Gatos
Portfolio Allocation & Treasurer's Fund Balances
May 31, 2013
Fund Balances - Begimiing 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
$69,389,220.72
$75,558,782.33
2,610,611.80
38,053,089.21
(9,998,540.22)
(51,610,579.241
$62,001,292.30
$62,001,292.30
$200,708.35
47,095,416.21
4.149.984.68
51,446,109.24
10,555.183.06
$62,001,292.30
Portfolio Investment Allocation
BNY MM
Local Agency Investment Fund 0.39%
8.07%
US Govt Agencies
91.54%
page 2
These accounts are not pail of the Treasurer's fiord 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 fiords which will be expended over the
next few years, reserve fiords which will guarantee the payment of lease payments, and a third fiord 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 fiord for the
life of the COP issue. The COI fiord was closed in September 2010:
Page 3
Town of Los Gatos
Non - Treasury
Restricted Fund Balances
May 31, 2013
Previous
Ending
Balance Deposits
Interest Withdrawals
Balance
Non - Treasury Funds:
Downtown Parking District 12/20/02
$286,325.59
$59.65
$286,385.24
Note I
Cert. of Participation 2002 Series A Reserve Fund
686,251.19
5.66 5.66
686,251.19
Note 4
Ceti. Of Participation 2002 Ser A Lease Pymt Fund
0.00
0.00
0.00
Note 4
Cert, of Participation 2002 Series A Const. Fund
42,617.75
0.00
42,617.75
Nate 4
COP 2010 Library Reserve Fund
1,277,062.50
0.00
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 CO] 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:
$2,292,257.03 $0.00
$65.31 $5,66
$2,292,316.68
These accounts are not pail of the Treasurer's fiord 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 fiords which will be expended over the
next few years, reserve fiords which will guarantee the payment of lease payments, and a third fiord 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 fiord for the
life of the COP issue. The COI fiord 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
May 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 Fiscal
Month Year to Date
- 17,604.35 435,760.79
- 91,945.62 - 91,945.62
- 97,353.16 - 2,568.42
- $12,196.81 $346,383.59
$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
20,417.73
- 12,196.81
$346,383.59
Market to Cost Position Report
Town of Los Gatos
Amortized
Market
Unrealized * Source: Treasury and Agency Obligations - Union Bank of California
Institution
Cost
Value*
Crain (Loss) LAW balances per Local Agency Investment Fund monthly statement.
BNY Assets
$47,088,117.59
$46,772,375.20
Inactive
Deposits by Institution
200,708.35
2(10,708.35
0.00
Purchased Interest
7,298.62
7,298.62
0.00
LAIF
4,149,984.68
4,149,984.68
Market
to Cost Position Report
$51,446,109.24
$51,130,366.85
4315,74239
May 31, 2013
Deposit
Amortized
Maturity
Days
Days to
Days
Yield to
Interest
Interest
Interest
Institution
Security
Date
Cost
Date Elapsed
Maturit
Invested
Maturity
Earned
Received
Accrued
TIAA
Corporate Note
04/11/11
880,446.95
07/15/13
781
45
826
1.334%
25,131.43
71,047.62
(45,916.19)
NY Life
Coupon Note
01/25/12
2,041,000.00
12/13/13
492
196
688
0.753%
20,716.21
32,683.33
(11,967.12)
FHLMC
Coupon Note
09/16/11
2,026,080.00
08/20/14
623
446
1069
0.527%
18,224.78
28,555.55
(10,330.77)
FNMA
Coupon Note
10 /07/11
1,296,875.00
02/18/15
602
628
1230
0.866%
18,523.35
34,097.22
(15,573.87)
F1ILB
Coupon Note
01/25/13
2,511,725.00
04/30/15
126
699
825
0.278%
2,410.43
4,288.19
(1,877.76)
Treasury
Note
08/16/11
1,042,812.50
07/31/15
654
791
1445
0.652%
12,182.56
25,489.13
(13,306.57)
FNMA
Callable Note
09 /09/11
2,000,000.00
(19/(19/15
630
831
1461
1.000%
34,520.55
30,000.00
4,520.55
FNMA
Callable Note
12/20/12
500,260.00
11/06/15
162
889
1051
0.473%
1,050.22
944.44
105.78
Berk Hath
Coupon Note
01/26/12
1,315,137.50
12/15/15
491
928
1419
1.077%
19,053.53
27,137.15
(8,083,62)
FNMA
Callable Note
05/23/13
2,511,301.00
04/29/16
8
1064
1072
0.390%
214.66
214.66
FNMA
Callable Note
06/29/12
2,005,700.00
05/23/16
336
1088
1424
0.800%
14,770.74
15,750.00
(979.26)
IBM
Coupon Note
11/13/12
782,505.00
07/22/16
199
1148
1347
0.757%
3,229.56
2,803.12
426.44
Treasury
Note
08/16/11
1,025,390.63
07/31/16
654
1157
1811
0.973%
17,876.69
21,847.83
(3,971.14)
SO
Coupon Note
12/18/12
526,020.00
10/15/16
164
1233
1397
0.962%
2,273.67
3,818.75
(1,545.08)
FNMA
Callable Note
05/14/13
1,500,000.00
11/14/16
17
1263
1280
0.550%
384.25
384.25
FNMA
Callable Note
04/04/13
4,004,800.00
03/14/17
57
1383
1440
0.621%
3,883.78
3,883.78
FHLMC
Callable Note
12/20/12
1,0()9,900.00
03/28/17
162
1397
1559
0.470%
2,106.68
3,402.78
(1,296.10)
Berk Hath
Coupon Note
01/11/13
509,280,00
05/15/17
140
1445
1585
1.162%
2,269.85
2,755.56
(485.71)
FI -II;MC
Callable Note
06/08/12
2,007,700.00
06/06/17
357
1467
1824
1.120%
21,993.39
11,866.67
10,126.72
FHLMC
Callable Note
06/28/12
2,507,250.00
06/14/17
337
1475
1812
0.139%
3,217.73
13,83333
(10,615.60)
FHLMC
Callable Note
01/11/13
2,525,925.00
08/14/17
140
1536
1676
0.244%
2,363.99
4,583.33
(2,219.34)
FNMA
Callable Note
10/19/12
1,504;050.00
09/20/17
224
1573
1797
0.707%
6,525.85
6,291.67
234.18
FNMA
Callable Note
11/30/12
1,003,200.00
09/20/17
182
1573
1755
0,604%
3,021.36
3,055.56
(34.20)
FNMA
Callable Note
12/04/12
1,002,750,00
09/20/17
178
1573
1751
0.652%
3,188.36
2,916.67
271.69
FFCB
Coupon Note
10/18/12
1,996,960.00
09/21/17
225
1574
1799
0.862%
10,611.24
7,055.00
3,556.24
FHLB
Coupon Note
12/12/12
1,998,720.00
12/08/17
170
1652
1822
0.751%
6,991.14
6,991.14
FNMA
Callable Note
04/17/13
1,004,400.00
03/05/18
44
1739
1783
0,623%
754.32
754.32
FNMA
Callable Note
05 /06/13
3,056,250.00
04/24/18
25
1789
1814
0.540%
1,130.39
1,130.39
AAPL
Corporate Note
05/16/13
991,680.01
05/03/18
15
1798
1813
1.172%
477.64
477.64
Subtotal
47,088,117.59
BNY 1\41\4
200,708.35
30
30
0.00%
0.00
0.00
Purchased Interest
7,298.62
LAIF
N/A
03/31/13
4,149,984.68
06/30/13
61
30
91
0.25%
3,178.92
3,178.92
$51,446,109.24
1105
0.63%
$262,277.28
$354,222.90
($91,945.62)
Maturity Prol'ile
Amount
Percent
0 -1 year
$7,279,438.60
14.15%
1 -2 years
$5,834,680.00
11,34%
2 -3 years
$9,375,210.00
18.22%
3 -5 years
$28,956,780.64
56.29%
$51,446,109.24
100.00%
Market to Cost Position Report
Amortized
Market
Unrealized * Source: Treasury and Agency Obligations - Union Bank of California
Institution
Cost
Value*
Crain (Loss) LAW balances per Local Agency Investment Fund monthly statement.
BNY Assets
$47,088,117.59
$46,772,375.20
(315,742.39)
BNY MN4
200,708.35
2(10,708.35
0.00
Purchased Interest
7,298.62
7,298.62
0.00
LAIF
4,149,984.68
4,149,984.68
0.00
Totals:
$51,446,109.24
$51,130,366.85
4315,74239
page 5
Town of Los Gatos
Quarterly Investment Report
(Month Ended April 30, 2013)
Prepared by
Linda L. Speicher, Project Manager
08/01/13 �/#
Town of Los Gatos
Summary Investment Information
April 30, 2013
Weighted Average Portfolio Yield: 0.64% Weighted Average Maturity (days)
This Month Last Month One year ago
Portfolio Balance $69,389,221 $65,759,913 $79,173,040
Benchmarks/ References:
Town's Average Yield
0.64%
0.70 %
LAIF Yield for month
0.26%
0.29%
3 me. Treasury
0.05%
0.13%
6 mo. Treasury
0.08%
0.14%
2 yr. Treasury
0.23%
0.26%
5 yr. Treasury (most recent)
0.71%
0.78%
Prime rate
3.25%
3.25%
Most recent auctions of
Freddie Mac or Fannie Mae Reference
Notes:
3 yr. Freddie Mac (03/07/13)
0.50%
Note: Both Farmie and Freddie have ceased offering 2 year notes for the time being.
0.97%
0.37%
0,10%
0.15%
0.27%
0.89%
3.25%
950
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 kinds to meet the cash demands for the next six months.
Page 1
Town of Los Gatos
Portfolio Allocation & Treasurer's Fund Balances
April 30,2013
Month
Fund Balances - Beginning of Month/Peliod
$65,759,913.23
Receipts
6,427,970.23
Disbursements
(2,798,662.74)
Fund Balances - End of Month/Period
$69,389,220.72
Portfolio Allocation:
BNY MM
$1;695,966.13
US Govt Agencies
45,618,043.42
Local Agency Investment Fund
10,149,984.68
Subtotal - Investments
57,463,994.23
Reconciled Demand Deposit Balances
11,925,226.49
Total Treasurer's Fund
$69,389,220,72
Portfolio Investment Allocation
BNY MM
2.95%
Local Agency Investment Fund
YTD
$75,558,782.33
35,442,477.41
(41,612,039.02)
$69,389,220.72
US Govt Agencies
79,39%
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 finds for the Certificates of Participation 2002 Series A consist 01'construction fiords which will be expended over tile
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 are all for the Library constructi on, -res, n es'to guarantee lease payments, and a lease payment fund for the
life of the COP issue. The COI fiend was closed in September 2010.
Page 3
Town df.Lba Gatos
Non - Treasury
Restricted Fund Balances
April 30, 2013
Previous
Ending
Balance Deposits
Interest
Withdrawals
Balance
Non - Treasury Funds:
Downtown Parking District 12/20/02
$286,263.96
$61.63
$286,325.59
Note I
Cert. of Participation 2002 Series A Reserve Fund
686,251.19
5.84
5.84
686,251.19
Note 4
Cert. Of Participation 2002 Ser A Lease Pymt Fund
0.06
0.00
0.00
Note 4
Cert. of Participation 2002 Series A Const. Fund
42,590.36
27.39
42,617.75
Note 4
COP 2010 Library Reserve Fund
1,277,062.50
0.10
0.10
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
Notes
Total Restricted Funds:
$2,292,168.01 $0.00
$94.96
$5.94
$2,292,257.03
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 finds for the Certificates of Participation 2002 Series A consist 01'construction fiords which will be expended over tile
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 are all for the Library constructi on, -res, n es'to guarantee lease payments, and a lease payment fund for the
life of the COP issue. The COI fiend 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
April 30, 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
Month
20,817,28
- 97,353.16
- 96,953.61
$20,417.73
$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
20;417.73
$358,580.40
Fiscal
Year to Date
453,365.14
- 97,353.16
- 2,568.42
$358,580.40
page 5
Town of Los Gatos
Inactive
Deposits by Institution
Market to Cost Position Report
April 30, 2013
Deposit
Amortized
Maturity
Days
Days to
Days
Yield to
Interest
Interest
Interest
Institution
Security
Date
C0- st
Date
Elapsed
Maturit
Invested
Maturit
Earned
Received
Accrued
NY Life
Corporate Note
07/22/11
534,350.00
05/09/13
648
9
657
0.791%
7,503.86
30,160.42
(22,656.56)
TIAA
Corporate Note
04/11/11
880,446.95
07/15/13
750
76
826
1.334%
24,133.90
71,047.62
(46,913.72)
NY Life
Coupon Note
01/25/12
2,041,000.00
12/13/13
461
227
688
0.753%
19,410.92
32,683.33
(13,272.41)
FHL1\4C
Coupon Note
09116111
2,026,080.00
08/20/14
592
477
1069
0.527%
17,317.93
28,555.55
(11,237.62)
FNMA
Coupon Note
10/07/11
1,296,875.00
02/18/15
571
659
1230
0.866%
17,569.49
34,097.22
(16,527.73)
FH1,B
Coupon Note
01/25/13
2,511,725.00
04/30/15
95
730
825
0.278%
1,817.39
4,288.19
(2,470.80)
Treasury
Note
08/16/11
1,042,812.50
07/31/15
623
822
1445
0.652%
11,605.10
25,489.13
(13,884.03)
FNMA
Callable Note
09/09/11
2,000,000.00
09/09/15
599
862
1461
1.000%
32,821.92
30,000.00
2,821.92
FNMA
Callable Note
12/20/12
500,260.00
11/06/15
131
920
1051
0.473%
849.25
849.25
Berk Hath
Coupon Note
01/26/12
1,315,137.50
12/15/15
460
959
1419
1.077%
17,850.56
27,137.15
(9,286.59)
FHLMC
Callable Note
08/15/12
2,010,200.00
05116116
258
1112
1370
0.861%
12,234.02
5,055.56
7,178.46
FHLMC
Callable Note
08/16/12
1,005,000.00
05 /16/16
257
1112
1369
0.864%
6,113.92
2,500.00
3,613.92
FNMA
Callable Note
06/29/12
2,005,700.00
05/23/16
305
1119
1424
0.800%
13,407.97
7,000.00
6,407.97
IBM
Coupon Note
11/13/12
782,505.00
07/22/16
168
1179
1347
0.757%
2,726.46
2,803.12
(76.66)
Treasury
Note
08/16/11
1,025,390.63
07/31/16
623
1188
1811
0.973%
17,029.32
21,847.83
(4,818.51)
SO
Coupon Note
12/18/12
526,020.00
10/15/16
133
1264
1397
0.962%
1,843.89
3,818.75
(1,974.86)
FNMA
Callable Note
04/04/13
4,004,800.00
03/14/17
26
1414
1440
0.621%
1,771.55
1,771,55
FHLMC
Callable Note
12/20/12
1,009,900.00
03/28/17
131
1428
1559
0.470%
1,703.55
3,402.78
(1,699.23)
FNMA
Callable Note
05 /25/12
3,033,660.00
05/03/17
340
1464
1804
1.512%
42,727.23
23,041.67
19,685.56
Berk Hath
Coupon Note
01 /11/13
509,280.00
05/15/17
109
1476
1585
1.162%
1,767.24
1;767.24
FHLMC
Callable Note
06/08/12
2,007,700.00
06/06/17
326
1498
1824
1.120%
20,083.60
11,866.67
8,216.93
FI-ILMC
Callable Note
06/28/12
2,507,250.00
06/14/17
306
1506
1812
0.139%
2,921.74
13,833.33
(10,911.59)
FHLMC
Callable Note
01/11/13
2,525,925.00
08/14/17
109
1567
1676
0.244%
1,840.53
4,583.33
(2,742.80)
FNMA
Callable Note
10/19/12
1,504,050.00
09/20/17
193
1604
1797
0,707%
5,622.72
6,291.67
(668.95)
FNMA
Callable Note
11/30/12
1,003,200.00
09/20/17
151
1604
1755
0.604%
2,506.74
3,055.56
(548.82)
FNMA
Callable Note
12/04/12
1,002,750.00
09/20/17
147
1604
1751
0.652%
2,633.08
2,916.67
(283.59)
FFCB
Coupon Note
10/18/12
1,996,960.00
09/21/17
194
1605
1799
0.862%
9,149.25
7,055.00
2,094.25
FHLB
Coupon Note
12/12/12
1,998,720.00
12/08/17
139
1683
1822
0.751%
5,716.28
5,716.28
FNMA
Callable Note
04/17/13
1,004;400.00
03/05/18
13
1770
1783
0.623%
222.87
222.87
Subtotal
45,612,097.58
BNY MM
1,695,966.13
30
30
0.00%
0.00
0.00
Purchased Interest
5,945.84
LAIF
N/A
03/31/13
10,149,984.68
06/30/13
30
61
91
0.26%
2,275.11
2,275.11
$57,463,994.23
950
0.64%
$305,177.39
$402,530.55
($97,353.16)
Maturity Profile
Amount
Percent
0 -1 year
$15,307,693.60
26.64%
1 -2 years
$5,834,680.00
10.15%
2 -3 years
$4,858,210.00
8.45%
3 -5 years
$31,463,410.63
54.75%
$57,463,994.23
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
$45,612,097.58
$45,462,878.91
(149,218.67)
BNY 1\41\4
1,695,966.13
1,695,966.13
0.00
Purchased Interest
5,945.84
5,945.84
0.00
LAIF
10,149,984.68
10,149,984.68
0.00
Tota)8:
$57,463,994.23
$57,314,775.56
- $149,218.67
page 5