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HomeMy WebLinkAboutMarch 2003 2nd Quarter Report 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 (979) 764-3500 MEMORANDUM To: Through F rom: Honorable Mayor and City Coun~ci~ Tom Brymer, City Manager Charles Cryan, Director of Fiscal Services Subject: Investment Report for 2nd Quarter FY 03 Date: April 9, 2003 Attached are the Summary Portfolio Report and Accompanying Graphs for the 2nd Quarter of FY 2003. The report and graphs provide information on the overall portfolio position as of March 31, 2002. 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 $130,297,627 $130,914,301 2.472 12 Months 114% $868,238.96 Portfolio Holdings Bank TexPool Treasuries Agencies I Fidelity Flex Agrmt. 1% 30% 1% 50% I 8% 10% 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 last quarter the Federal Open Market Committee (FOMC) left the Federal Funds rate at 1.25% and estimated 2003 CDP growth at a sub-par 2.5%. Although economic indicators moved in both directions during the quarter the financial markets were primarily being driven by news of the war. With the varied economic news and continued action in the Middle East the only certainty is that volatility will remain in the financial markets in the short-term. Please feel free to call if you have any questions, 764-3552. Home of Texas A&M University Home of the George Bush Presidential Library and Museum Tex Pool 29% US Treasury 2% Flex Repurchase Agrmt. 10% Cash 1% Fidelity 8% FFCB 3% HLB 0% 20% FNMA FHLMC 19% 8% Investment Yield by TypeI Treasury Coupon Securities 24% Fidelity Money Market 8% Flex Repurchase Agrmt. 32% Agency Coupon Tex Pool Securities 8% 24% Cash 4% Par Value by Investment TypeI Treasury Securities Fidelity 2% 8% Flex Repurchase Agrmt. 10% Cash Agency Securities 49% Tex Pool 3O% Par Value by Dealeri Tex Pool 29% Coastal Securities 5% Fidelity Money Market 8% First Tennessee 19% Cash 1% Flex Repurchase Agrmt. 10% Zions Bank_] Vining Sparks 15% Salomon Smith Barney 12% 70,000,000 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 0 0 Day Aging Report Par ValueI 1-365 Days 366 - 730 731 - 1095 1096 - 1360 1461 Days & Days Days Days After IInterest Earnings by Quarteri $980,000.00 $960,000.00 $940,000.00 $920,000.00 $900,000.00 $880,000.00 $860,000.00 $840,000.00 $820,000.00 $800,000.00 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Investment Portfolio For The Quarter Ending: Second Quarter Report FY2003 March 2003 To the best of my knowledge the information in this report is correct: Prepared By: Date Prepared:_ 9-Apr-03 Reviewed By: Investment Officer Reviewed By: Reviewed By: Assist. 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