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2010 10 13 IAB
I"O. Bo v 1:0) I �)22 17—I:ifl I AGENDA INVESTMENT ADVISORY BOARD Caucus Room 78-495 Calle Tampico- La Quinta, CA 92253 October 13, 2010 - 4:00 P.M. I CALL TO ORDER a. Pledge of Allegiance b. Roll Call II PUBLIC COMMENT - (This is the time set aside for public comment on any matter not scheduled on the agenda.. III CONFIRMATION OF AGENDA IV CONSENT CALENDAR Approval of Minutes of Meeting on September 8, 2010 for the Investment Advisory Board. V BUSINESS SESSION A. Transmittal of Treasury Report for August, 2010 VI CORRESPONDENCE AND WRITTEN MATERIAL A. Month End Cash Report - September 2010 B. Pooled Money Investment Board Report — July 2010 C. Joint City Council/IAB Meeting VII BOARD MEMBER ITEMS VIII ADJOURNMENT PUBLIC NOTICES The La Quinta Caucus Room is handicapped accessible. If special equipment is needed for the hearing impaired, please call the Finance Department at 777-71 50, twenty-four (24) hours in advance of the meeting and accommodations will be made Any writings or documents provided to a majority of the Investment Advisory Board regarding any item on this agenda will be made available for public inspection at the City Clerk counter at City Hall located at 78-495 Calle Tampico, La Quinta, CA 92253, during normal business hours. INVESTMENT ADVISORY BOARD MEETING September 8, 2010 I. CALL TO ORDER A regular meeting of the Investment Advisory Board was called to order at 4:00 p.m. by Chairman Park followed by the Pledge of Allegiance. PRESENT: Board Members Mortenson, Blum, Park, Spirtos and Rassi ABSENT: None STAFF PRESENT: John Falconer, Finance Director and Vianka Orrantia, Senior Secretary II. PUBLIC COMMENT - John Ingalls, City of La Quinta Resident III. CONFIRMATION OF AGENDA - Confirmed IV. CONSENT CALENDAR A. Approval of Minutes of Meeting on August 11, 2010 for the Investment Advisory Board MOTION - It was moved by Board Members Blum/Spirtos to approve the minutes of August 11, 2010. Motion carried unanimously. V. BUSINESS SESSION A. Transmittal of Treasury Report for June and July 2010 Mr. Falconer presented and reviewed the staff reports for the months of June and July 2010, advising the Board that the June report presented at the August meeting was a draft with the final June report presented with no changes. In response to Board Member Park, Mr. Falconer advised that the new fire station is located on the corner of Avenue 52 and Bermudas. Further discussion ensued amongst the Board in reference to the new fire station. Mr. Falconer presented and reviewed the July staff report advising the Board that page 12 reflects the maturing of a three-month Treasury Bill, which was reinvested. The portfolio decreased by $2.23 million ending the month at $180 million, with the overall portfolio performance ending at .47% and the average maturity at 119 days. Mr. Falconer stated that he feels that the interest rates will remain at .50% through 2011. Mr. Falconer advised of the current TLGP notes and their performance. General discussion ensued amongst the Board and staff regarding the TLGP Program and Fannie Mae and Freddie Mac. In response to Board Member Park, Mr. Falconer advised that the budgeted monthly fee paid to the Riverside County Sheriff's department is approximately $1 million per month. Further discussion ensued amongst the Board regarding the cost of contracted sheriff's services vs. city police services. In response to Board Member Spirtos, Mr. Falconer summarized for the Board the housing demand increase on page 15. In response to Board Member Spirtos, Mr. Falconer advised that a portion of the Quimby funds reflected on page 18, is budgeted for the sports center complex, due to be completed by the end of 2010. In response to Board Member Blum, Mr. Falconer reviewed and explained the use of the Quimby Funds. Further discussion ensued amongst the Board regarding the Quimby Fees. MOTION - It was moved Board Members Mortenson/Blum to review, receive, and file the Treasurers Report for June and July 2010. Motion carried unanimously. VI CORRESPONDENCE AND WRITTEN MATERIAL A. Month End Cash Report - August 2010 Mr. Falconer presented and reviewed the August 2010 report advising on the City's investment activity reflected on page 2, the Bank of New 2 York's investments ended the month at $97 million. In addition, there was the maturity of several Federal Home Loan investments which were used to pay pass -through payments and semi-annual debt service payments. Mr. Falconer also advised that page 3 reflects the LAIF daily yields with the yields remaining at .51 % and page 7 reflecting the current T-Bill rate, with the three-month T-Bill at .14%. Mr. Falconer further advised that Board Members Mortenson and Blum would be attending this year's annual LAW Conference in October. In response to Board Member Spirtos, Mr. Falconer advised that he would report back to the Board in reference to the decrease reflected in the table on page 12, column titled "other". In response to Board Member Spirtos, Mr. Falconer clarified that the salaries and fringe benefits increase was due to the fact that eight days of payroll was accrued in the month of June, which was part of the prior fiscal year. Noted and Filed B. Pooled Money Investment Board Reports - June 2010 Mr. Falconer commented on the average daily portfolio reflected on page 1 of the report. Noted and Filed C. Bank of New York Insurance Mr. Falconer advised that the Bank of New York Insurance information provided was for informational purposes only. Noted and Filed D. Municipal Code Section 2.06.020 Mr. Falconer advised that the Municipal Code Section 2.06.020 was for informational purposes only. Noted and Filed VII BOARD MEMBER ITEMS - None VIII ADJOURNMENT 3 It was moved by Board Members Spirtos/Blum to adjourn the Investment Advisory Board meeting at 4:45 p.m. Motion carried unanimously. Sub�tted b�: Vianka Orrantia Senior Secretary 4 INVESTMENT ADVISORY BOARD Business Session: A Meeting Date: October 13, 2010 ITEM TITI F- Transmittal of Treasury Report for August 31, 2010 BACKGROUND: Attached please find the Treasury Report for August 31, 2010. RECOMMENDATION: Review, Receive and File the Treasury Report for August 31, 2010. John M. Falconer, Finance Director M*504`11 -a, W Wril �-.. -� Aws 4M N MEMORANDUM TO: La Quinta City Council FROM: John M. Falconer, Finance DirectorfTreasurer SUBJECT: Treasurer's Report for August 31, 2010 DATE: September 30, 2010 Attached is the Treasurer's Report for the month ending August 31, 2010. The report is submitted to the City Council each month after a reconciliation of accounts is accomplished by the Finance Department. The following table summarizes the changes in investment types for the month: LAIF Certificates of Deposit $ 47,314,613 $ 9,500,000 969,000 240,000 $ (19,500,000 ) 0 $ 37,314,,613 (10,000,000) US Treasuries 97,935,011 (2) (240,000) 969,000 0 US Gov't Sponsored Enterprises 18 ggg 298 21,517 97,956,528 21,517 Commercial Paper (2) (19,000,000) 702 0 (18,999,298) Corporate Notes 15,167,340 (2) (2) 0 0 0 Mutual Funds 581,790 1 (12,177) 15,155,163 (12,177) Subtotal $ 180,967,052 $ 9,740,000 $ 38,740,000 $ 0 10,042 581,790 $ 151,977,094 5 0 28,989,958 Cash $ 519,652 1 & 3 $ 12,056,051 $ 11,536,399 12,056,051 Total Q ,e., .....,... - - - I certify that this report accurately reflects all pooled investments and is in compliance with the California Government Code; and is in conformity with the City Investment Policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the pools expenditure requirements for the next six months. The City of La Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and the Bank of New York Monthly Custodian Report to determine the fair market value of investments at month end. r John M. Falconer Finance Director/Treasurer Footnote (1) The amount reported represents the net increase (decrease) of deposits and withdrawals from the previous month. t? 1D Date (2) The amount reported in the other column represents the amortization of premium/discount for the month on US Treasury, Commercial Paper and Agency investments. (3) The cash account may reflect a negative balance. This negative balance will be offset with transfers from other investments before warrants are presented for payment by the payee at the bank. 2 Treasurer's Commentary For the Month of August 2010 Cash Balances - The portfolio size decreased by $16.93 million to end the month at $163.51 million. The major reason for the decrease were pass through payments to other governments of $14.12 million, Sheriff contract expenses of $1 .3 million, and Capital Improvement Project payments of $900,000 (notable payments were for the Col. Mitchell Page Field lighting ($364,000); Cove Fire Station ($245,000); and, the Laguna de la Paz Sound wall ($171,000). Investment Activity - The investment activity resulted in an average maturity decreased by 11 days from the prior month to end the month of August at 108 days. The Treasurer follows a buy and hold investment policy and purchased one (1) Certificate of Deposit of $240,000 to replace a matured Certificate of Deposit. The sweep account earned $68 in interest income for the month of August and the bank fees for the month were $ 1,830 which resulted in a net decrease of $1, 762 in real savings. Portfolio Performance - The overall portfolio performance had a one (1) basis point decrease from the prior month and ended at .46% for the month, with the pooled cash investments yield also decreasing one (1) basis point to yield .49%. The portfolio yield should continue to stay at these levels for the near future. At this time last year, the portfolio was yielding .61 % which reflects the current interest rate environment. Looking Ahead The Treasurer is still concentrating on safety first and foremost. In the short term, the Treasurer will be maintaining LAIF balances at the maximum allowable percentage because its rate declines slower in a declining rate environment. 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N♦�ammp .V `WpmNW- dWm 69 H H H H H H H H H H H H w H o Y N N n - 2 N�N Y m N N N w N _N N 1. a�i 0�i d o nk c o c^ w o n y^ k c^ r .. Na 8 E �ga S ^ Io 8 d E d 1 E gg� z m 1m go c EZog m`'�p;,o m all-J Zug m F 2 E mado .EEi°g dE W W J u E mm2� 1 ?, =—A ic°i J _ OCINJ roar,18 I `�t6yy�y5o _'c raFiD�r`' �_ �dgo � a=a~(Ug -1� aaF�jv4 g°2 r UN»QUUfr mviNc rUv»jacg c��r �rnNEcCy5c rU(n»n`c�c�fr �K�n vi C CC SJc rc��n»ac��r $ O O�O NOO W �' �NlOn V Y1 oA "fepipS � O tPD{ W 10O7�� 0 o nN �„ �rj � O � tp�� �pp mNNlO IA O N LL Q� N �D� N `� mn s��i�' y O Op�O �y 00 NR O Ol")ry0 ly' N N(O(O^ fnD jf YNI N N 14OI M i T i c,ip� �gM 9� Amyg��? c,i� AA � � �Nr N Vf S -•��� �(J �(1 CD p O c N cli q ♦ � N W � �N�N�F 1A R Y1 t�i�0� l 0 y Cq � Nry W NO^ W N R f R O �r } C Q L 2 g U o g w C A � jyT� Ly 0 N b O Z W 7 m K 91 City of La Quinta Comparative Rates of Interest August 31, 2010 City of La Quinta Year Month Annualized Earnings Average Maturity der Treasury BillstNote Commercial Paper Three Month Non -Financial LAIF Rai 4.85% Pooled Cash Fiscal A ent Overall Three Month Six Month One Year Two Year FY 06107 July 2006 4.93% 5.00% 4.96% 95 5.06% August 2006 4.94% 5.01 % 4.97 % 48 4.97 % 4.95% Sept 2006 4.98% 5.01 % 4.99 % 53 5.00 % 5.02% Oct 2006 5.00% 5.02% 5.01 % 67 4.96% 5.10 % Nov 2006 5.04 % 5.03 % 5.03 % 62 4.94 % 5.13 % Dec 2006 5.08% 5.04 % 5.06% 80 4.90% 5.13 % Jan 2007 5.18% 5.12% 5.16% 64 4.98% 5.16% Feb 2007 5.19% 5A 3 % 5.17% 45 4,95 % 5.18% Mar 2007 5.21 % 5.03 % 5.15% 67 4.88% 521 % Apr 2007 5.20% 5.14% 5.15 % 42 4.84% 522 % May 2007 5.20% 5.05% 5.16% 32 4.81 % 5.25% June 2007 5.19% 4.88% 5.10% 85 4.81% 5.25% FY 07/08 July 2007 5.21% 4.90% 5.12 % 129 4.80% 5.26 % August 2007 5.17% 4.85% 5.08% 109 4.59% 5.25% Sept 2007 5.16% 4.86 % 5.06 % 129 4.00 % 5.23 % Oct 2007 5.11 % 4.85% 5.02% 116 3.95 % 5.14 % Nov 2007 5.03% 4.83% 4.96 % 99 3.34 % 4.96% Dec 2007 4.95% 3.43 % 4.45% 123 3.39 % 4.80 % Jan 2008 4.58% 3.33% 4.22% 96 2.31 % 4.62 % Feb 2008 4A2% 3.24 % 3 85% 86 2.07 % 4 16 % Mai-2008 4.07% 2.83 % 3.67 % 74 1 50 % 3.78 % Apr 2008 3.46 % 3.27 % 3.41 % 82 1.70 % 3.40% May 2008 3.14 % 327% 3.17 % 63 1.92% 3.07% June 2008 3.09% 1.94% 2.86% 80 2.14% 2 89% FY08/09 July 2008 2.99% 1.93% 2.77% 62 1.70% 1.88% 2.29% 2.75% 2.18% 2.79% August 2008 3.16% 1.92% 2.88% 51 1,69% 1.89% 2.14% 2.38% 2.08% 2.78% Sept2008 2.81% 1.92% 2.64% 37 1,42% 1.79% 1.96% 2.00% 2.13% 2.77% Oct2008 2.66% 2.61% 2.61% 29 0.90% 1.40% 1.72% 1.50% 2.07% 2,71% Nov 2008 2.38% 2.36% 2.36% 64 0.15% 0.49% 1.04 % 1.25% 1.45% 2.57% Dec 2008 1.60 % 0.18% 1.42% 116 0.05% 0.25% 0.59% 0.88% 0.97 % 2.35 % Jan 2009 1.36% 0.18% 1.23% 82 0.15% 0.35 % 0.43% 0.88% 0.31% 2.05% Feb 2009 1.23% 0.18% 1.11% 75 0.30% 0.50% 0.61% 0.88% 0.48% 1.87% Mai-2009 1.26% 0.18% 1.13% 69 0.20% 0.42 % 0.70 % 0.88% 0.37% Apr2009 0.94% 0.18% 0.85% 54 0.31% 0.33% 0.59% 0.88% 0.28% May 2009 0.92 % 0.18% 0.84 % 80 0A8% 0.30% 0.53% 0.88% 0.23% 1.53% June 2009 0.85% 0.29% 0.80% 111 0.20% 0.35% 0.55% 1.13% 0.26% 1.38% FY 09/10 July 2009 0.69 % 0.30% 0.65% 111 0.19% 0.28% 0.47 % 1.00% 0.28% L04% August 2009 0.64 % 0.30% 0.61 % 92 0.16% 0.26% 0.46% 1.00% 0.24% 0.93 % Sept 2009 0.56% 0.31% 0.53% 112 0.12% 0.19% 0.41% 1.00% 0.19% 0.75% Oct 2009 0.52% 0.31% 0.50% 90 0.08% 0.19% 0.38% 1.00% 0.19% 0.65% Nov 2009 D.56% 0.31% 0.53% 152 0.04% 0.14% 0.32% 0.75% 0.15% 0.61% Dec 2009 156 % 0.15% 0.51 % 239 0.11 % 0.20% 0.16% 1.00% 0.16% 0.57 % Jan 2010 146% 0.15% 0.43% 179 0.06% 0.14% 0.34% 0.88% 0.13% 0.56% Feb 2010 D.51 % 0.16% 0.48% 162 0.13% 0.19 % 0.32% 0.88% 0.15% 0.58% Mar 2010 0.50% 0.16 % 0.47% 172 0.15% 0.24 % 0.38% 1.00% 0.20% 0,55 % Apr2010 0.52% 0.16% 0.48% 162 0.15% 0.24% 0.49% 1.00% 0.23% 0.59% May 2010 0.52 % 0.16 % 0.48% 116 0.17% 0.22% 0.37% 0.75% 0.28% 0.56 % June 2010 0.49% 0.15% 0.46% 134 0.16% 0.22 % 0.32% 0.63 % 0.32% 0.53 % FY 10/11 July 2010 D 50% 0.15% 0 47% 119 0.16 % 0.20 % 0.30 % 0.63% 0.28% 0.53% August 2010 0.49 % 0.15% 0.46% 108 0.15% 0.19% 026% 0.38% 0.25 % 0.51 % 10 O ■ Is f, Q � I Q O N m I c E N 1 W I O r � N a ■ TI co � 7 C 1 � � Q ■ I I N � I � p c c m Q � N m N LL 0 0 I i N Z .V ` N CC (6 I O N (6 ■, A I Q H I I / I I i N � I � / c I O L ■ O IL i m N i aLY CD 7 E N i W .� ry U1 C L J � ■ L U Ccu ¢ in 0 t M O � � O U m o UN O a0 C� V CV CD O i O 0 O a 11 INVESTMENT ADVISORY BOARD Correspondence & Written Material Item A Meeting Date: October 13, 2010 TITLE: Month End Cash Report - September 2010 BACKGROUND: This cash report is not a complete Treasury Report (exclude petty cash, deferred compensation and fiscal agent balances), but would report in a timely fashion selected cash balances. At last month's meeting staff was asked to report back on the July cash flow sheet, which may be found on page 13. RECOMMENDATION: Information item only. John M. Falconer, Finance Director C n a) Ya � c m �U C7 c0 J W 0 0 L N :�` O M U 2 rn O O O Off) O L ci O O O m M N O cn N 'o I w m N o M O V VM' (O w0 H� '- O O O OO a (O M (n N n ri o O Cl) O O co O N M O o O pO Cl) v OD Oi co OODD O O N N OnD W (O O O OOD N h N (D (O (O N M (NO+) Y O > co _ O O O o o 0 00 O o 06 O o N^ a o o o M o; OD voo�Mov O E o o c o O M M OD O (O (O (O o M W m r- do O O sr er O O O N N N W M S r y> O O O O O co M (O M CO n C4 N C C n do n m M n Cl) V N N 1- cc co OD ... OD OD OO w O O Oo O �OUpJ o- M 4. O 0 O 0 O M U� OD 0 r- Ln OD N O Lo a) o _ W M v M (O coOD cocoN N U O(D W (D N N o) In N v o Lo v Q J o aD M OD N OD N M N M O B O n (o (O R N N N OD V O M Cl) co n W n Oct M l() 10 n � W n u M n M ro M O O O cD o (o (o O o M 04 rn U g N O M N N O M N N c C O O M N O M N m'tO - (14 h O N Na) O N O N N O O O O O O O O a)u) O n r- o O O O co M o CO W OR OOD LL 7 N (co (D to O M p M M M r o > 7 C o (MO M N N N W a) (NO N 3 COCN (p M (NO M (NO Cl)O O p) a) Lo N M M Cl) »j OD N (O — (O C O M o O M Ci p) ca c CD (7 coO 6� ODM oo o(op a)m O u°i o o (L �°° N L c000 ornn o rn M rno N M o $ O (moo O U Lo (O O N-7 w (O n M M N N nN m K a Lo N 0 N O U O_ M w W N L6 n N ca O C M n M H OD a) 2co U U E rn E ao Y m m N ; c N— c) O> N O ([) O .4 a U N c:O N T O m 0 Q cu Q i E OMO L (O a U N o L d (,) O_ a) ) W aU N (O N a)-5 a) D O m a) N a U (ca (D f0 E m m NE�a 0oc(n� a� is m c o O la c c M a N m a m a) a) m w o� co '�� M a as 2 m v O ip N O N C c E c 7 U_ N E j O N U .0 N « a7 �_ 2 N C d O j7 U la (a d a) 03 > > «p c 0 0(L 'O a) W Q0 U N = a) O a) N d a Q W Q(4 0 Z 0-(L�Q��(4 Q o6 O ( O M M (0O C2 "O N a a a) m L U j t W 3 (D r r- n vc N j (D 9 N O O c 2- N � a) a L m 2 0 nd N ca C U) a) C L 0. c N o E (6 C IS c L 8 'O N O a 0) a N N a a a) H r C 0) U T 0 m L_ E O Z (6 T T c 'c o p E zo O) :3 C OO l c � U c 0. c a� w c r cc m � a) H (U N T U_ O a c E (D C a) C_ O ca 0. 0) a7 c a) a) z 3 0 m E 3 E E Y a7 E O a N d O v O L N O a C N CD OD (D a) (D J m 0 a) L a) > ) C O O c a o (D � o E O NC � c o a) m Ea ca 0 = c pam a) L O 'O rC N C_ N W c a) A E E N C o c > C a) '_ N (0 C�7 � ` U C a c u! 0 0 'r O p w a C N Bill Lockyer, State Treasurer Inside the State Treasurer's Office Local Agency Investment Fun (LAIF) LAIF CONFERENCE REGISTRATION PMIA Performance Report LAIF Performance Report Quarter ending 6/30/2010 Apportionment Rate: Earnings Ratio: Fair Value Factor: Daily: Quarter To Date: Average Life: 0.56% .00001523807623153 1.001643776 0.51 % 0.56% 203 PMIA Average Monthly Effective Yields AUG 2010 0.513% JUL 2010 0.531% JUN 2010 0.528% *Daily yield does not reflect capital gains or losses Pooled Money Investment Account Portfolio Composition $67.9 Billion 08/31 /10 Corporate Bon 0.16% Commercial Paper 8.09% Time Deposits 6.17% CDs/B� 10.58°i Loans 16.66% Agencies Mortgages 10.93% 0.91 /o Treasuries 46.50% 3 Recent Bill Auction Results Page 1 of 1 ieme , 1n5M.nonai , A1111 ullc^menu, Data. & Results , Latest Auction. Data , Recent Bill Auction Vcs, Ets Recent Bill Auction Results S.- dy 1�ssue M.tu'ty ON - t Investment Price CUS1P Tenn Date Date Rate k, Rate U6 Per $1.00 13-WEEK 10-07-201.0 01-06-20111. 0. 130 0.1.37 99,967139 912795X71. 26-WEEK 10 07-207.0 04-07-2011. 0. 165 0.1.88 99.906472 97.2795VDO I WEEK09-30-201.0 'i0-28-2011 0.a so 0,081 99,993778 912795W,49 57-DAY 09-30-201.0 11-26-2010 0,130 0.1.32 99,979III 912711W80 13-WEEK 09-30-2010 12-30-2011 0.155 0157 99.960819 91279SX55 26-WEEK 09-30-2010 03-31-2011 0.190 0.193 99,903944 912795239 4-WEEK 09-23-2010 i0-21-2010 0,115 0.711 11,111116 1121911/11 56-DAY 09-23-2010 11 Q8-2010 0,145 0.147 99.977444 912795UJO 13-WEEK 09-23-2010 12-23-2010 0,160 0.161 99.959556 112111X48 26-WEEK 09-23-2010 03-24-2011 0.295 0.198 99.901417 9127952113 52-WEEK 09-23-2010 09-22-2031 4-WEEK 09-16-2010 10-14-2010 0 100 0. 101 99.992222 912795W31 5 7-DAY 09-16:2010 11-12-2010 0.145 0.141 99,977042 912195W12 13-WEEK 09-1620 0 12-1e-20U3 0.140 0.14'2 99.964611 912795UK5 26-WEEK 09-1.6-2010 03-1.7-2011 0,190 0.193 99,903944 9127952GS 4-INHK 09-09-2010 1.0-07-2010 0,090 0.091, 99,993000 912795W23 56-DAY 09-09-2010 7.7.-04-2010 ().-'20 f1, 122 99,981333 91219.1116 13-WE:EK 09-09-1010 7.2-09-2f) 0,1.35 0.t 37 99.9658/5 91.279.5X30 26-WEEK 09-09-2010 03-1.0-2011 0. 1.80 0. 18-1 99.900000 91.279SV99 4-WF.FK C19-07-2010 09-30-7010 0.150 0.162 99.987556 91279SVO 56-DAY 09-07-2010 7.0-28-2010 0,125 0.127 99,980556 11,1791W41 ].3-WFFK C19-02-20t0 ].2-02-20Y0 0.145 0.t47 99.963347 91.2795N198 26-WEEK 09-02-2010 03-03-201t 0.190 0-193 99,903944 112711211 21-DAY 08-26-2010 09-16-2011) 0.170 0.172 99990083 912795V84 4-WEEK 08-26-2010 09-23-2010 0,155 0,157 99987944 912795U90 56-DAY 06-26-2010 ].0-21-2U10 0.140 0.142 99.47II222 9Y2795UH2 13-WEEK 06-26-2010 ].1-26-2010 0.1�55 0.157 99,960389 91279SW80 2G_�WEEK 08-26-2010 02-24-21111 0,1,95 0.186 19,906472 112191214 52-WEEK 08-26-2010 08-25-201:t 0.260 0.264 99.737111 9127952A6 4-WEEK 08-19-2010 09-16-2011) 0. 155 0,15'7 99.987944 912795Vt34 56-DAY 08-19-2010 10-14-2010 0.145 0.147 99,977444 112711WIl 13-WEEK 0849-2010 71-18-2010 (i.Y55 0.157 99.960819 9127951!)8 26-WEEK 08-11)2010 02-17-201:i Ci.185 0.188 99.906472 912795286 4-'WEEK OS-YZ-2010 G9-09-ZO 10 11. 145 0,1.47 99.9RR722 912795VA6 56-DAY 08-12-2010 SO-0'7-2-010 U.135 0. i.:i'7 99.9'79000 911795N721 t3-WEEK: 08-72 2-010 t1-72-2010 13150 0.1.52 -9,961667 912795W72 26-WEEK 08-12-2010 02-10-201: O. Y')0 0. 193 99.903944 912795VIO 4-WEEK 08-05-2010 09-02-201.0 0.150 0. 152 99.988333 912795V73 56-DAY 08-OS-201.0 09-30-2010 0.160 0.1.62 99.975t 1.1. 9-12795VC2 t?-WEEK US-05-201.0 t1-04.-2010 0.755 0.7.57 99.960R19 912795WSfi Effective with the 11/2/98 auction, all bills are auctioned using the single -priced method. I dom of 11forrra[ up Act I Laty & G,ndance I t'ri acy & Lcgal Notices 11y ts• ye. lerms &, C.on Ul;s I 71 3 Z,:ali v U.S. De.pa tirent of tha Tra asury, e, r of.th7. f` Iblk f7npt 4 http://www.treasurydirect.gov/RI/OFBills 10/4/2010 Recent Note, Bond, and. TIPS Auction Results Page 1 of 1 TrelasurvDired. Biome I It »brut! ! , A,!, 1 1aeP)ts, Data &. ResultS , La(est Auctlo!) D ita - Rcca-( Note- Bi ., :Ind 1 WS Auct on R tilts Recent Note, Band, and TIPS Auction Results Security Term Type Issue Maturity Interest Yield Price CUSIP Date Date hate A, ! Per $SOD 2-YEAR NOTE 09-30-201.0 09-30-20.12 0,375 0.441. 99.868724 91.2828NX4 5-YEAR NOTE 09-30-201.0 09-30-2015 1.250 1_260 99.951.690 912828NZ9 7-YEAR NOTE 09-30-2(110 093()-2017 1.87.8 .1..890 99.902081 912828PA2 3-YEAR NOTE 09-15-201.0 09-15-7013 0,750 0,790 99,881.642 912828NY2 9-YEAR 10-MONTH TIPS 09-15-2010 07-15 2020 1.250 1,019 102,109188 912828NMS 9 -YEAR II -MONTH NOTE 09-15-2010 08-15-2020 2,625 2,670 99.607796 912828NT3 29-YEAR 11-MONTH BOND 09-15-2010 08 15 -2040 3,875 3.820 100,970530 912810QK7 2-YEAR NOTE 08-31-2010 08-31-2012 0.375 0.498 99,755524 912828P117 5-YEAR NOTE U8-31-2010 08-31-2015 1.250 1.374 99,402797 912828NVB 7-YEAR NOTE C8-31-2U 10 08-31.-2017 Y.875 1.989 99.258493 912828NW6 '29-YEAR 6-MONTit THIS 08-31-2U30 02-15-2040 2,125 1.768 109.086149 912810QF8 3-YEAR NOTE 08-16-2010 08-15-2013 0,750 0.844 99.722358 912828NU0 10-YEAR NOTE 08-16-2010 08-15-2020 2.625 2,730 99.086655 912828NT3 30-YEAR BOND 08-16-2010 08-IS-2040 3,875 3.954 98.619129 912810QK7 2-YEAR NOTE 08-02-2010 07-31-2012 0.625 0.665 99.920863 912828NQ9 5-YEAR NOTE OS-U2-2G10 ll-:31-201.5 1.1111 1.796 99,'7131111 912828NP1 7-YEAR P40 E 08-02-2C t0 07-31 -2017 2.37.5 2..394 99.878150 912628NR7 3-YE..AR NOTE 0-7-15-2(,'10 07-IS-2013 1.000 1,055 99.838004 912828NN6 9-YEAR 10-MONTH NOTE 07-1.5-2f,10 05-t5-2020 3.500 3.7.1.9 113,119111. 912118NDB 10-YEAR TIPS 07-1.5-2C10 07-tc.-202.0 1..2so 1..295 99,579194 91.2828NM8 29-YEAR 10-MONTH BOND 07-15-2C10 05-15-2040 4,375 4-0,90 105,053815 9.12830QH4 2-YEAR NOTE 06-30-2G10 06-30-201.2. 0.625 0.738 99.776070 912828NS5 5-YEAR NOTE 06-30-2C10 06-30-2015 1-875 1.995 99.431646 912828110 7-YEAR NOTE 06-30-2C10 06-30-2011 2.500 2.575 99,512396 912828NK2 3-YEAR NOTE 06-15-2CY0 06-15-2013 1.125 1.220 99.72098. 912828NH9 9-YEAR I1-MONTH NOTE 06-15-2010 05-15-2020 3,500 3.242 102.169092 912828NDB 29 YEAR IT MONTH BOND 05-15-2010 05-15-2040 4,375 4.182 103.270808 912810QI14 2-YEAR NOTE 06-01-2010 05-31-2012 0.750 0,769 99.962406 912828NCG 5-YEAR NOTE 06-01-2010 05-31-2015 2,125 2, 130 99.976355 912828Ni3 7-YEAR. NOTE 06-01-201U 05-31-2011 2,750 2.815 99:119611 112121111 3-YEAR NOTE 05-17-2UYU 05-15-2013 1.375 1.414 94.flfl5991 912828NCU 10-YEAR NOTE (2 7-2010 05-15-2020 3,500 3.548 99.598723 912828ND8 30-YEAR BOND 05-17-2010 05-15-2040 4,375 4.490 98.Y14367 912810QI14 2-YEAR NOTE. 04-30-201.0 04-30-2012 1,000 .1.024 99.952608 91.2828N52 5-YEAR TIPS (14-30-201.0 04-15-201.5 0.500 0.550 99.767648 912828MY3 5-YEAR NOTE 0430-201.0 04-30--2.015 2,500 2.S40 99.813289 912828MZD 7-YFAR N()i E. 04-30-2010 04-30-20t7 3.125 3.210 99.470887 91.2828NA4 3-YEAR NO'iI U4-1.5-'2010 04-15-2013 .1.750 .1,776 99.924368 111128MX5 9-YEAR 9-MOPJTH TIPS O4-t5-201.0 01.-15-2020 1.375 1.709 97.21960> 9.12828MFM1 9-YEAR 1.0-MONTH NOTE 04-15-201.0 02-1.5-2020 3.62.5 3.900 97.763197 912878NIP2 Denotes TIPS bond; all other TIPS without asterisks are notes I reo om of lofwmat- Act I Late & Guidance I P-acy & Legal Notice`- I 'A is y,. 'm' & Cpi 1 ions I , ota lacliPy U.S. i)ep;,ao"e )t of-ttta ilea_ urY, Hurea« of the Park gebt 5 http://www.treasurydire(,t.gov/RI/OFNtebnd 10/4/2010 FRB: Commercial Paper Rates and Outstandings Page 1 of 3 ornnner al Paper "Release ease I About I Announcements I Outstand_ings I Volume statistics. I Year-end I Maturity Distribution I Data Download Program(DDP) Data as of October 1, 2010 Commercial Paper Rates and Outstanding Derived from data supplied by The Depository Trust & Clearing Corporation Posted October 4, 2010 Discount rates AA A2/P2 AA AA Term nonfinancial. nonfinancial financial asset -backed 1-day 0.22 J 0.35 0.20 0.29 7-day 0.17 ] 0.39 0.19 0.29 15-day 0.17 ] 0.32 0.17 0.33 30-day 0.19 ] 0.39 0.19 0.31 60-day 0.22 J� n.a. 0.22 0.29 90-day 0.23 n.a. 0.24 0.31 rrade data insufficient to support calculation of the 60-day A2/132 nonfinancial and 90-day A2/P2 r Yield curve Money inarket basis )nfinancial rates for October 1, 2010. Percent. Chit WE MW 1 7 15 30 60 90 Days to Maturity 6 http://www.federalreserve.gov/Releases/CP/ 10/4/2010 FRB: Commercial Paper Rates and Outstandings Page 2 of 3 Discount rate spread Discount rate history I hirty-day cornmerdai paper wally) Percent AA nonfinanciA A2/1"2 nonfinancial AA financiji 2001 2002 2003 2004 2005 2006 2007 2008 2009 2014 Outstandings Weekly (Wednesday), seasonally adjusted 7 6 5 4 http://www.federalresen,e.gov/Releases/CP/ 10/4/2010 7 FRB: Commercial Paper Rates and Outstandings Page 3 of 3 Billions of dollar Billions of dollars -Nonfinancial tri lai sca lej l 41 ty_ 2001 2003 2005 2007 2009 240 120 The daily commercial paper release will usually be available before 11:00am EST. However, the Federal Reserve Board makes no guarantee regarding the timing of the daily commercial paper release. When the Federal Reserve Board is closed on a business day, rates for the previous business day will be available through the Federal Reserve Board's Data Download Program_(DDP). This policy is subject to change at any time without notice. Release I About I Announcements I Outstandings I Volume statistics I Year-end I Maturity Distribution I Data Download Program (DDP) Home I Statistical releases Accessibilitv I Contact Us Last update: October 4, 2010 http://www.federalreserve.gov/Releases/CP/ 10/4/2010 FRB: H.15--Selected Interest Rates, Web -Only Daily Update --October 1, 2010 Page 1 of 3 Federal Reserve Statistical Release 1.15 Selected interest Rates (Daily) Release Date: October 1, 2010 Weekly release dates I Historical data I Data Download Program (DDP) About AnnowlcLnlen;ts Daily update Otherformats: Screen reader I ASCII The weekly release is posted on Monday. Daily updates of the weekly release are posted Tuesday through Friday on this site. If Monday is a holiday, the weekly release will be posted on Tuesday after the holiday and the daily update will not be posted on that Tuesday. FEDERAL RESERVE STATISTICAL RELEASE H.15 DAILY UPDATE: WEB RELEASE ONLY SELECTED INTEREST RATES For use at 4:15 p.m. Eastern Time Yields in percent per annum October 1, 2010 2010 2010 2010 2010 Instruments Sep Sep Sep Sep 27 28 29 30 Federal funds (effective) 1 2 3 0.19 0.19 0.19 0.15 Commercial Paper 3 4 5 6 Nonfinancial 1-month 0.22 0.21 0.19 0.20 2-month 0.23 0.23 0.22 0.21 3-month 0.23 0.24 0.24 0.23 Financial 1-month 0.19 0.19 0.22 0.20 2-month 0.22 0.23 0.21 0.21 3-month 0.22 0.23 0.23 0.23 CDs (secondary market) 3 7 1-month 0.24 0.24 0.24 0.24 3-month 0.28 0.27 0.27 0.27 6-month 0.38 0.37 0.37 0.37 Eurodollar deposits ;London) 3 8 1-month 0.32 0.35 0.35 0.35 3-month 0.40 0.42 0.42 0.41 6-month 0.55 0.62 0.62 0.60 Bank prime loan 2 3 9 3.25 3.25 3.25 3.25 Discount window primary credit 2 10 0.75 0.75 0.75 0.75 U.S. government securities Treasury bills (secondary market) 3 4 4-week 0.07 0.08 0.12 0.14 3-month 0.16 0.16 0.16 0.16 6-month 0.19 0.20 0.20 0.19 1-year 0.25 0.25 0.26 0.26 Treasury constant maturities Nominal 11 1-month 0.08 0.08 0.12 0.14 3-month 0.16 0.16 0.16 0.16 6-month 0.19 0.20 0.20 0.19 1-year 0.26 0.26 0.27 0.27 2-year 0.44 0.37 0.44 0.42 3-year 0.66 0.64 0.67 0.64 5-year 1.31 1.25 1.28 1.27 7-year 1.92 1.85 1.91 1.91 10-year 2.54 2.48 2.52 2.53 20-year 3.40 3.35 3.38 3.38 30-year 3.70 3.66 3.69 3.69 Inflation indexed 12 5-year 0.02 -0.06 -0.02 -0.03 7-year 0.33 0.24 0.29 0.29 10-year 0.79 0.69 0.74 0.75 http://www.federaireserie.gov/Releases/H 10/4/2010 0 FRB: H.15--Selected Interest Rates, Web -Only Daily Update --October 1, 2010 Page 2 of 3 20-year 30-yearr Inflation -indexed long-term average 13 Interest rate swaps 14 1-year 2-year 3-year 4-year 5-year 7-year 10-year 30-year Corporate bonds Moody's seasoned Aaa 15 Baa State & local bonds :L6 Conventional mortgages 17 Footnotes 1.53 1.43 1.48 1.51 1.61 1.53 1.58 1.63 1.38 1.30 1.37 1.40 0.41 0.41 0.40 0.40 0.61 0.60 0.59 0.61 0.89 0.86 0.85 0.89 1.21 1.16 1.15 1.21 1.53 1.48 1.47 1.53 2.07 2.01 2.00 2.08 2.59 2.51 2.50 2.59 3.36 3.29 3.27 3.35 4.51 4.47 4.51 4.54 5.58 5.54 5.58 5.58 3.84 4.32 1. The daily effective federal funds rate is a weighted average of rates on brokered trades. 2. Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures include each calendar day in the month. 3. Annualized using a 360-day year or bank interest. 4. On a discount: bas-.s. 5. Interest rates interpolated from data on certain commercial paper trades settled by The Depository Trust: Company. The trades represent sales of commercial paper by dealers or direct issuers to investors (that is, the offer side). The 1-, 2-, and 3-month rates are equivalent to the 30-, 60-, and 90--day dates reported on the Board's Commercial Paper Web page (www.federalreserve.cjov/relleases/cp/). 6. Financial paper that is insured by the FDIC's Temporary Liquidity Guarantee Program is not excluded from relevant indexes, nor is any financial or nonfinancial commercial paper that may be directly or indirectly affected by one or more of the Federal Reserve's liquidity facilities. Thus the rates published after September 19, 2008, likely reflect the direct or indirect effects of the new temporary programs and, accordingly, likely are not comparable for some purposes to rates published prior to that period. 7. An average of dealer bid rates on nationally traded certificates of deposit. 8. Bid rates for Eurodollar deposits collected around 9:30 a.m. Eastern time. 9. Rate posted by a majority of top 25 (by assets in domestic offices) insured U.S.-chartered commercial banks.. Prime is one of several base rates used by banks to price short-term business loans. 10. The rate charged for discounts made and advances extended under the Federal Reserve's primary credit discount window program, which became effective January 9, 2003. This rate replaces that for adjustment credit, which was discontinued after January 8, 2003. For further information, see www.federalreserve.gc)v/boarddocs/press/bcreg/2002/200210312/default.htm. The rate reported is that for the Federal Reserve Bank of New York. Historical series for the rate on adjustment credit as well as the rate on primary credit are available at www.federalreserve.gov/releases/hl5/data.htm. 11. Yields on actively traded non -inflation -indexed issues adjusted to constant maturities. The 30-year Treasury constant maturity series was discontinued on February 18, 2002, and reintroduced on February 9, 2006. From February 18, 2002, to February 9, 2006, the U.S. Treasury published a factor for adjusting the daily nominal 20-year constant maturity in order to estimate a 30-year nominal rate. The historical adjustment factor can be found at www.treas.gov/offices/domestic-finance/debt-management/interest-rate/ltcompositeindex_historical.shtml. Source: U.S. Treasury. 12. Yields on Treasury inflation protected securities (TIPS) adjusted to constant maturities. Source: U.S. Treasury. Additional information on both nominal and inflation -indexed yields may be found at www.treas.gc,v/offi_ces/domestic-finance/debt-management/interest-rate/. 10 http://www.federalresene.gov/Releases/H15/update/ 10/4/2010 FRB: H. 15 --Selected Interest Rates, Web -Only Daily Update --October 1, 2010 Page 3 of 3 13. Based on the unweighted average bid yields for all TIPS with remaining terms to maturity of more than 10 years. 14. International Swaps and Derivatives Association (ISDA?) mid -market par swap rates. Rates are for a Fixed Rate Payer in return for receiving three month LIBOR, and are based on rates collected at 11:00 a.m. Eastern time by Garban Intercapital plc and published on Reuters Page ISDAFIX?l. ISDAFIX is a registered service mark of ISDA. Source: Reuters Limited. 15. Moody's Aaa rates through December 6, 2001, are averages of Aaa utility and Aaa industrial bond rates. As of Decembe,^ 7, 2001, these rates are averages of Aaa industrial bonds only. 16. Bond Buyer Index; general obligation, 20 years to maturity, mixed quality; Thursday quotations. 17. Contract interest rates on commitments for fixed-rate first mortgages. Source: Primary Mortgage Market Survey? data provided by Freddie Mac. ------------------------------------------------------------------------------------------------------ Note: Weekly and monthly figures on this release, as well as annual figures available on the Board's historical H.,15 web site (see below), are averages of business days unless otherwise noted. ----------------------------------------------------------------------------------------------------- Current and historical H.15 data are available on the Federal Reserve Board's web site (www.federalreserve.gov/). For information about individual copies or subscriptions, contact Publications Services at the Federal Reserve Board (phone 202-452-3244, fax 202-728-5886). For paid electronic access to current and historical data, call STAT-USA at 1-800-782-8872 or 202-482-1986. ------------------------------------------------------------------------------------------------------ Description of the Treasury Nominal and Inflation -Indexed Constant Maturity Series Yields on Treasury nominal securities at "constant maturity" are interpolated by the U.S. Treasury from the daily yield curve for non -inflation -indexed Treasury securities. This curve, which relates the yield on a security to its time to maturity, is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations obtained by the Federal Reserve Bank of New York. The constant maturity yield values are read from the yield curve at fixed maturities, currently 1, 3, and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years. This method provides a yield for a 10-year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity. Similarly, yields on inflation -indexed securities at "constant maturity" are interpolated from the daily yield curve for Treasury inflation protected securities in the over-the-counter market. The inflation -indexed constant maturity yields are read from this yield curve at fixed maturities, currently 5, 7, 10, and 20 years. Weekly release dates I I Iistorical data I Data Download Program (DDP)_I AbOUt I Announcements Daily update Otherformats: Screen reader I ASCII Statistical releases lone I Economic research and data Access hilih I Contact tis Last update: October 1, 2010 11 http://www.federalresenie.gov/Releases/H 15/update/ 10/4/2010 City of La Quinta Cash Flow Budget to Actual August 31, 2010 _ Cash Basis Budget Actual Accrual / Adjusted Total Variance Account _ 8/10 8/10 Adjustment 8/10 Over Under Notes j Property Tax/ Tax Increment - - _ Transient Occupancy Tax 106,275 (25,282) 157,473 132,191 25,916 Sales Tax 298,665 - 450,600 450,600 151,935 Sales Tax higher than budget SilverRock Golf 72,937 92,859 92,859 19,922 Library 1,293,206 - 462,508 462,508 (830,698) Payment from Library lower than budgeted Riverside Co Transportation Commission - - Other revenues 830,265 989,145 989,145 158,880 Revenues 2,601,348 1,056,722 1,070,581 2,127,303 (474,046) Expenditures Salaries & Fringe Benefits 876,595 765,333 765,333 (111,262) Other expenditures 2,119,554 965,274 965,274 1,154,280 Did not pay August Police invoice 2,996,149 1,730,607 1,730,607 1,265,542 Subtotal Did not receive August RSG invoice, did not spend funds on Housing projects or Washington Redevelopment Agency 274,996 72,017 72,017 (202,979) Street apartments Debt Service (Principal/Interest/Pass Through) 686,187 660 397 660,397 25,790 961,183 732,414 732,414 228,769 Subtotal Capital Projects 892,457 892,457 892,457 Total Expenditures 4,849,789 3,355,478 3,355,478 (1,494,311) Net Revenues/Expenditures (2,248,441) 2,298,756) 1,070,581 1,228,175 1,968,357) NOTE1. Expenditures are budgeted at 8.34 % per rronth Difference between actual and budget (Underspent) DEPARTMENT Overspent Notes GENERAL GOVERNMENT (98,926) _ 1 CITY CLERK (5,918) COMMUNITY SERVICES (82,167) FINANCE (13,018) BUILDING & SAFETY (93,630) ... PUBLIC SAFETY (1,051,613) Did not pay August Police invoice PLANNING (14,624) ...PUBLIC WORKS: 109,115 Street Maintenance lower than budget 1,469,011 SUBTOTAL - GENERAL FUND - Library Gas Tax Federal Assistance - JAG Grant Slesf(Cops) Revenue Indian Gaming - Lighting & Landscaping RCTC Development Agreement - AB 939 15,607 ., Quimby ''. Infrastructure Proposition 16 South Coast Air Quality (4,079) 'transportation - I 'Parks & Recreation Civic Center Library Development - (Community Center (Street Facility Park Facility - Fire Protection '.. Arts In Public Places (23,035) Interest Allocation'. Equipment Replacement (38,096) Information Technology (35,524) Park Maintenance Facility (37,563) SilverRock Golf 52,395 SilverRock Reserve - '.. LQ Public Safety Officer (167) Housing Authority 738 Finance Authority (1,066) Capital Improvement Total - 1,539,801 12 City of La Quinta Cash Flow Budget to Actual July 31, 2010 Cash Basis Budget Actual Accrual / Adjusted Total Variance Account _ 7/10 7/10 Adjustment 7/10 Over(Under) Notes Property Tax/ Tax Increment - 27,633 27,633 27,633 Received Supplemental Property Tax Transient Occupancy Tax 212,550 190,415 305,216 495,631 283,081 Received Mitigation fees Sales Tax 323,554 338,000 106,497 444,497 120,943 Received 41h Qtr Sales Tax SilverRock Golf 182,155 90,487 11,704 102,191 (79,964) Library Riverside Cc Transportation Commission - 456 - 462,508 84,837 462,508 84,837 462,508 84,381 Received Library payment from County Reimbursement for CIP expenses Other revenues _ 1,378,558 122,124 1,160,646 1,282,770 95,787 Developer fees were $45kunder budget Revenues 2,097,273 741,026 2,159,041 2,900,067 802,795 _ Expenditures Salaries & Fringe Benefits 1,349,859 510,103 510,103 (839,756) Eight days accrued back to June Other expenditures 1,662,562 998,593 998,593 663,969 Did not pay July Police invoice 3,012,421 1,508,696 1,508,696 1,503,725 Subtotal Redevelopment Agency 258,724 67,209 187,252 254,461 (4,263) Debt Service (Principal/Interest/Pass Through) 281,375 307,170 25,793 281,377 2 Subtotal 540,099 374,379 161,459 535,838 4,261 185,660 185,660 185,660 Capital Projects Total Expenditures 3,738,180 2,068,735 161,459 2,230,194 1,507,986 Net Revenues/Expenditures (1,640,907) 1,327,709 1,997,582 669,873 705,191) NOTE 1. Expenditures are budgeted at 8.34 % per rronth Difference between actual and budget (Underspent) DEPARTMENT Overspent Notes _ GENERAL GOVERNMENT 233,360 CITY CLERK (21,237) COMMUNITY SERVICES 53,683 FINANCE (49,732) BUILDING & SAFETY (164,556) PUBLIC SAFETY (1,031,908) Did not pay July Police invoice ,PLANNING (50,910) PUBLIC WORKS: 355,658 Street Maintenance lower than budget 1,386,958 SUBTOTAL - GENERAL FUND Library Gas Tax Federal Assistance JAG Grant Slesf (Cops) Revenue - Indian Gaming - Lighting & Landscaping RCTC Development Agreement - AB 939 (5,588) Quimby Infrastructure - Proposition 1 B - South Coast Air Quality (4,079) Transportation Parks & Recreation Civic Center Library Development Community Center Street Facility - ! Park Facility Fire Protection Arts In Public Places (4,418) Interest Allocation Equipment Replacement (39,334) Information Technology 24,674 Park Maintenance Facility (37,563) SilverRock Golf (307,951) Decreased rounds in July SilverRock Reserve -Cr Public Safety Officer (167) Housing Authority (500) Finance Authority (1,066) Capital Improvement - Total 1,762,950 13 INVESTMENT ADVISORY BOARD Meeting Date: October 13, 2010 TITLE: Pooled Money Investment Board Report for July 2010 BACKGROUND: Correspondence & Written Material Item B The Pooled Money Investment Board Report for July 2010 is included in the agenda packet. RECOMMENDATION: Receive & File John M. Falconer, Finance Director POOLED MONEY INVESTMENT ACCOUNT SUMMARY OF INVESTMENT DATA A COMPARISON OF JULY 2010 WITH JULY 2009 (DOLLARS IN THOUSANDS) JULY 2010 JULY 2009I r CHtlNt3E Average Daily Portfolio $ 67,251,885 $ 56,319,767 $ +10,932,128 Accrued Earnings $ 30,318 $ 49,530 $ -19,212 Effective Yield 0.531 % 1.035 % -0.504 % Average Life -Month End (In Days) 199 188 +11 Total Security Transactions Amount $ 21,401,909 $ 27,812,203 $ -6,410,294 Number 438 560 -122 Total Time Deposit Transactions Amount $ 4,049,300 $ 4,422,700 $ -373,400 Number 163 175 -12 Average Workday Investment Activity $ 1,211,962 $ 1,401,617 $ -189,555 Prescribed Demand Account Balances For Services $ 1,390,414 $ 1,060,884 $ +329,530 NOW Account Average Balance $ - $ 8,828,020 $ -8,828,020 1 BILL LOCKYER TREASURER STATE OF CALIFORNIA INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) TYPE OF SECURITY Government Bills Bonds Notes Strips Total Government Federal Agency Debentures Certificates of Deposit Bank Notes Bankers' Acceptances Repurchases Federal Agency Discount Notes Time Deposits G N MAs Commercial Paper FHLMC/Remics Corporate Bonds AB 55 Loans GF Loans NOW Accounts Other Reversed Repurchases Total (All Types) July 31, 2010 DIFFERENCE IN PERCENT OF PERCENT OF PORTFOLIO FROM AMOUNT PORTFOLIO PRIOR MONTH $ 25,681,902 37.50 +0.43 0 0.00 0 6,650,920 9.71 +0.12 0 0.00 0 $ 32,332,822 47.21 +0.55 1,098,873 6,680,022 200,000 0 0 6,742,339 4,198,150 69 4,817,464 636,079 125,054 352,385 11,004,300 0 300,000 0 68,487,557 INVESTMENT ACTIVITY JULY 2010 NUMBER AMOUNT Pooled Money 438 $ 21,401,909 Other 11 2,202,466 Time Deposits 163 4,049,300 Totals 612 $ 27,653,675 PMIA Monthly Average Effective Yield 0.531 Year to Date Yield Last Day of Month 0.531 2 1.61 9.76 0.29 0.00 0.00 9.84 6.13 0.00 7.03 0.93 0.18 0.51 16.07 0.00 0.44 0.00 100.00 Al11L`1411411 +0.02 -1.14 -0.29 0 0 -0.93 +0.16 0 -4.16 -0.01 0 0 +5.79 0 +0.01 0 NUMBER AMOUNT 719 $ 35,320,501 22 325,138 138 2,785,990 879 $ 38,431,629 0.528 0.651 Pooled Money Investment Account Portfolio Composition $68.5 Billion 07/31 /10 Corporate Boni 0.18% Commercial Paper 7.03% Time Deposits 6.13% CDs/BI 10.05' Loans A^ rnn/ Agencies Mortgages 11.89% 0.93% 3 Treasuries 47.21 % INVESTMENT ADVISORY BOARD Correspondence & Written Material Item: C Meeting Date: October 13, 2010 Joint City Council/IAB Meeting BACKGROUND: The City Council has set November 9, 2010 at 6:30 p.m. for the joint meeting with the Investment Advisory Board. The meeting is scheduled for approximately one half hour in the Study Session Room at City Hall. Staff is asking for any agenda items that the Board may have for the joint meeting. RECOMMENDATION: Provide Staff with direction. John M. Falconer, Finance Director BOARD MEMBER ITEMS