HomeMy WebLinkAboutJune 2003 3rd 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 ·
M i= M [~c~c[~l~-stati°n'tx'us
(979) 764-35OO
To:
Through
From:
Honorable Mayor and City Council
TomBrymer, City Manager ~'~'~
Charles Cryan, Director of Fiscal Services ~_,~/"
Subject:
Investment Report for 3"d Quarter FY 03
Date: July 18, 2003
Attached are the Summary Portfolio Report and Accompanying Graphs for the 3rd Quarter of FY
2003. The report and graphs provide information on the overall portfolio position as of June 30,
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
$132,049,934 $132,627,095 2.079 13 Months 125% $777,827
Portfolio Holdings
Bank I TexPool I Treasuries A~lencies Fidelity I FlexA~lrmt.
2% I 31%t 2% 48% 10% I 7%
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 ("FOMC") lowered the Federal-Funds
rate to 1% and adjusted its official risk to deflation. Although there was a mix of economic news
during the quarter and an increase in consumer confidence, it was the topic of deflation that
pushed short-term yields lower. With the Federal-Funds Rate at a 45-year Iow and positive
signs from a number of economic indicators some are now predicting that the economy could
grow at over 4% in 2004. Given the Iow yield environment and the uncertainty remaining in the
economy we are continuing to make use of our overnight investment options and purchase
securities with a short maturity.
Please feel free to call if you have any questions, 764-3552.
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Investment Portfolio For The Quarter Ending'
Third Quarter Report FY2003
June 2003
To the best of my knowledge the information in this report is correct:
Date Prepared:_ 18-Jul-03
Reviewed By: ~ ....
Reviewed By:,
Reviewed By:
Investment Officer
Assist. Finance Director/Accting. Manager
Finance Director
Flex Repurchase
Agrmt.
7%
Fidelity
US Treasury Cash 10%
2% 2%
Tex Pool
30% FFCB
3%
FHLB
0% FNMA FHLMC 29%
17% 0%
Treasury Coupon
Securities
24%
IlnvestmentYield by TypeI
Fidelity Money Market
8%
Flex Repurchase
Agrmt.
32%
Agency Coupon Tex Pool
Securities 8%
24%
Cash
4%
IPar Value by Investment TypeI
Treasury Securities
2%
Flex Repurchase
Fidelity 7%
10%
Cash
Tex Pool
31%
Agency Securities
48%
~xPool
36%
Coastal Securities
2%
Fidelity Money Market
9%
First Tennessee
13%
Cash
2%
Flex Repurchase
Agrmt.
7%
Zions Bank
1%
Salomon Smith Barney
9%
Vining Sparks
21%
70,000,000
60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
0
0 Day
1-365 Days 366 - 730 731 - 1095 1096 - 1360 1461 Days &
Days Days Days After
IInterest Earnings by Quarteri
$800,000.00
$700,000.00
$600,000.00
$300,000.00
$200,000.00
$100,000.00
$0.00
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