HomeMy WebLinkAbout19C - QRTLY RPT OF INVESTMENTSREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
MAY 6, 2014
TITLE:
QUARTERLY REPORT OF INVESTMENTS
AS OF MARCH 31, 2014
CITY MANAGER
RECOMMENDED ACTION
Receive and file.
DISCUSSION
CLERK OF COUNCIL USE ONLY:
APPROVED
❑ As Recommended
❑ As Amended
❑ Ordinance on 16t Reading
❑ Ordinance on 2ntl Reading
❑ Implementing Resolution
❑ Set Public Hearing For
CONTINUED TO
FILE NUMBER
In 1995, the State of California enacted legislation revising the reporting requirements relative to
investment of funds by governmental agencies. State statutes require that a quarterly report be
submitted within 30 days following the end of the quarter covered by the report; however, our
office continues to provide this information to the City Council monthly. Quarter ending reports
continue to be presented at a Council meeting. The legislation dictates that this quarterly report
contain the seven major elements listed below:
1. Type of investments,
2. Date of maturity,
3. Par and dollar amounts invested in each security,
4. Weighted average maturity of the investments,
5. Market value as of the date of the report,
6. Source of the market value information, and
7. Any funds, investments or programs, including loans,
under the management of contracted parties.
These requirements, which became effective on January 1, 1996, mandate that a statement
outlining the ability of the City to meet the budgeted expenditures for the subsequent six months
be submitted to the City Council on a quarterly basis. Staff performs an end -of -month expenditure
analysis to comply with the expenditure requirement and a statement confirming the ability to
meet this requirement is in the monthly and quarter ending Treasurer's Report. The information is
19C -1
Quarterly Report of Investments
May 6, 2014
Page 2
in compliance with State law and the City's Investment Policy. The attached report (Exhibit 1)
accurately reflects all pooled investments held on behalf of the City as of March 31, 2014.
The following table represents percentage policy limits set by the City's Investment Policy and
State Law and respective types, amounts and percentages, as of March 31, 2014.
Type of Investment
in
in
COSA
Policy
Limits
State Law
Limits
Certificate of Deposit (CD)
$0.00
0.00%
30%
30%
Commercial Paper(C /P)
$0.00
0.00%
25%
25%
Federal Farm Credit Bank (FFCB)
$55,925,600.00
19.65%
None
None
Federal Home Loan Bank (FHLB)
$43,703,362.50
15,36%
None
None
Federal Home Loan Mortgage Corp. (FHLMC)
$27,886,27834
9.80%
None
None
Federal National Mortgage Association (FNMA)
$47,136,808.34
16.56%
None
None
Overnight Sweep(C /P)
$60,000,000.00
21.08%
25%
25%
Local Agency Investment Fund(LAIF)
$49,920,201.12
17.54%
None
None
Treasuries
$0.00
0.00%
None
None
Total
$284,572,250.30
100.00%
The following graph represents percentages within the respective investment types, as of March
31, 2014.
19C -2
■ Federal Farm Credit Bank
■ Federal Home Loan Bank
■ Federal Home Loan Mortgage Corp.
■ Federal National Mortgage Association
■ Overnight Sweep (Commercial Paper)
■ Local Agency Investment Fund
Quarterly Report of Investments
May 6, 2014
Page 3
FISCAL IMPACT
There is no fiscal impact associated with this action.
�(Nt oNarL�,Lr- 1J .Via�� 4�
Francisco Gutierrez 'J "
Executive Director
Finance & Management Services Agency
Exhibit 1 Treasurer's Report
19C -3
Quarterly Report of Investments
May 6, 2014
Page 4
CITY OF SANTA ANA
TREASURER'S REPORT
as of March 31, 2014
EXHIBIT 1
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