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EL"CERRIT~ AGENDA BILL . ' Agenda Item No. 5(H) Date: April3, 2012 To: El Cerrito City Council From: Subject: Mary Dodge, Administrative Services Director/City Treasurer December 3I, 20 II Quarterly Investment Report ACTION REQUESTED Receive and file the City's December 31, 2011 Quarterly Investment Report. QUARTERLY INVESTMENT REPORT REVIEW The Quarterly Investment Report shows that the city's investments had a par value of $3,492,9I8.35 as of December 3I, 201I, a decrease of$3,I45,530.4I from last quarter. This is due to the use of funds for operations and $I ,550,686 for construction on the Recycling and Environmental Resource Center. The Local Agency Investment Fund (LAIF) account was not replenished until January from the property tax proceeds received mid-December, and the first use of those funds was the repayment of the Tax Revenue Anticipation Notes. Without any bond proceeds to invest, the City continues to have minimal investments that are not required for debt service reserves, and to have limited, if any, interest earnings on those restricted funds. Debt reserve funds are required to be in very secure portfolios and U.S. Treasury funds are the most secure. LAIF continues to provide the most liquid investment asset available and will continue to be used to invest the operational portion of the city's cash in order to maintain cash flow. Of the total amount invested, $642.82 18o/o) is invested in Pooled Funds/LAIF and $3,492,275.53 (99.982o/o) is held in Money Market funds. Overall, interest rates continue to be extremely low and currently LAIF is at .38%, which is the same as the last quarter. FINANCIAL CONSIDERATIONS The purpose of the City's Investment Policy is to provide guidelines for the prudent investment of the City's idle funds, and to outline the policies for maximizing the efficiency of the City's cash management system. The ultimate goal is to enhance the economic status of the City while protecting the funds at all times. The City's investments are in compliance with the "Authorized Investments" section of the Investment Policy. ---PAGE BREAK--- Agenda Item No. S(H) Reviewed by: Attachment: 1. City of El Cerrito December 31, 2011 Quarterly Investment Report. Page 2 ---PAGE BREAK--- Quarterly Investment Report For the Period Ending December 31, 2011 TRUSTEEI INTEREST MATURITY COST/ *MARKET FUND INVESTMENT TYPE INVESTMENT BROKER PAR VALUE COST OR YIELD DATE 100 VALUE Pooled Investments Pooled Fund LAIF CA State Treasurer $642.82 Storm Drain Fund Money Market US Bank US Treasuries US Bank $534,175.00 Swim Center Fund Money Market Federated Prm Money Market Bank of NY $366,474.22 City Hall Debt Fund Money Market Union Bank US Treasuries Union Bank of CA $603,309.95 Street Improvement Fund Money Market Union Bank US Treasuries Union Bank of CA $741,210.68 Integrated Waste Mgmt Fund Money Market Capital One Bank Deutsche Bank $813,994.85 Redevelopment Agency Fund Money Market Union Bank U.S Treasuries Union Bank of CA $1 07,418.63 Money Market Union Bank U.S Treasuries Union Bank of CA $325,692.20 TOTALS, as of December 31, 2011 $3,492,918.35 I certify that this report is in compliance with the City of El Cerrito Investment Policy and California Government Code 53646 and that there are adequate fungs avai,lel:lle to meet the next six months of estimated expenditures. $642.82 0.38% N/A $534,175.00 0.00% N/A $366,474.22 0.01% N/A $603,309.95 0.01% N/A $741,210.68 0.01% N/A $813,994.85 0.05% N/A $107,418.63 0.01% N/A $325,692.20 0.01% N/A $3,492,918.35 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 $642.82 $534,175.00 $366,474.22 $603,309.95 $741,210.68 $813,994.85 $107,418.63 $325,692.20 $~,492,918.35 PJ CD 0 ::TO. 3 P.l CD CD z 0 01 I