HomeMy WebLinkAboutSeptember 2003 4th Quarter Rep The City of
College Station, Texas
Embracing the Past, Exploring the Future.
P.O. Box 9960 ·
1101 Texas Avenue · College Station, TX 77842
www.ci.college-station.tx.us
MEMORANDUM
(979) 764-3500
To:
Through
From:
Honorable Mayor and City Coun~
Tom Brymer, City Manager ~J
Charles Cryan, Director of Fiscal Services
Subject: Investment Report for 4th Quarter FY 03
Date: October 23, 2003
Attached are the Summary Portfolio Report and Accompanying Graphs for the 4th Quarter of
FY 2003. The report and graphs provide information on the overall portfolio position as of
September 30, 2003. Reports that give detailed information on the securities held and
transactions performed during the quarter have been placed on file in the City Secretary's
Office. An investment report is provided to the City Council each quarter as required by the
Public Funds Investment Act and consistent with the City's investment policy.
Book Value Market Value Yield Weighted Comparison Interest Earned
To Average to
Maturity Maturity Benchmark
$132,312,876 $132,783,415 2.015 13 Months 125% $648,594
Bank TexPool Treasuries Agencies Fidelity Flex Agtii~L
1% 24% 1.5% 59% 9.5% 5%
All investments and collateral are held in safekeeping with a third party, and all investments are
specifically authorized under the Public Funds Investment Act. The settlement of all investment
transactions occurs on a delivery versus payment method. Under this method the investment
must be received before funds are released for payment. The City's investment portfolio meets
the three primary objectives of Safety, Liquidity and Yield as stated in the City's investment
policy.
During the quarter the Federal Open Market Committee left the Federal-Funds rate at 1% and
maintained its official risk of deflation. The economic news during the quarter was surprisingly
strong with CDP in the 4.5% range and equity markets enjoyed a good quarter. The positive
economic news caused yields to rise during July and August but the failure of the employment
sector to improve caused yields to decline throughout September. Based on the current
economic situation we are continuing to make use of our overnight investment options and
purchase securities with a short maturity. We are also purchasing a limited number of
securities that take advantage of the yields offered in the three to four year area of the yield
curve.
Please feel free to call if you have any questions, 764-3552.
Home of Texas A&M University
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Investment Portfolio For The Quarter Ending:
Fourth Quarter Report FY2003
September 2003
To the best of my knowledge the information in this report is correct:
Prepared By: ~~~.~ ~~
Date Prepared: 23-Oct-03
Reviewed By:
Reviewed By:
Assist. Finance Director/Accting. Manager
Reviewed By:
Finance Director
IParValue by Investment Typei
Treasury Securities
2%
Fidelity
10%
Flex Repurchase
Agrmt.
5%
Cash
1%
Tex Pool
24%
Agency Securities
58%
Cash
1%
Flex Repurchase
Agrmt.
5%
Zions Bank
1%
Tex Pool
24%
Vining Sparks
27%
Coastal Securities
5%
Fidelity Money Market
10%
First Tennessee
16%
Salomon Smith Barney
11%
Market Value by Issuer[
Tex Pool
24%
US Treasury Flex Repurchase
2% Agrmt.
5%
Cash
1%
Fidelity
10%
FFCB
4%
FHLMC
26%
28%
Investment Yield by Type[
Treasury Coupon
Securities
25%
Fidelity Money
Market
8%
Flex Repurchase
Agrmt.
32%
Agency Coupon
Securities
25%
Tex Pool
8%
Cash
2%
70,000,000
60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
0 Day
Aging Report Par ValueI
1-365 Days 366 - 730 731 - 1095 1096 - 1360
Days Days Days
1461 Days &
After
Interest Earnings by Quarteri
$1,000,000.00
$900,000.00
$800,000.00
$700,000.00
$600,000.00
$500,000.00
$400,000.00
$300,000.00
$200,000.00
$100,000.00
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