HomeMy WebLinkAboutDecember 2002 1st Qtr Report The City of
College Station, Texas
Embracing the Past, Exploring the Future.
To:
Through
From:
Subject:
Date:
P.O. Box 9960 · 1101 Texas Avenue · College Station, TX 77842
www.ci.college-station.tx.us
MEMORANDUM
Honorable Mayor and City Council
Tom Brymer, City Manager ~
Charles Cryan, Director of Fiscal Services
Investment Report for ist Quarter FY 03
January 22,2003
(979) 764-3500
Attached are the Summary Portfolio Report and Accompanying Graphs for the 1st Quarter of
FY 2003. The report and graphs provide information on the overall portfolio position as of
December 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
$137,306,996 $138,032,535 2.559 11 Months 110% $968,973
Portfolio Holdings
Bank TexPool I Treasuries t Agencies Fidelity Flex Agrmt.
2% 37% I tl % 42% 7% 11%
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 of 2002 the Federal Open Market Committee (FOMC) reduced the
Federal Funds rate by 50 basis points to 1.25%. This action was in response to a rise in the
unemployment rate and to a drop in consumer confidence to a 9-year Iow..The current
economic conditions continue to have many analysts predicting that it will the middle of 2003
before any significant economic recovery will be seen.
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
Investment Portfolio For The Quarter Ending: December 2002
First Quarter Report FY2003
To the best of my knowledge the information in this report is correct:
Prepared By:
Date Prepared:
15-Jan-03
Reviewed By: ,,//
Investment Officer
Reviewed By:
Assist. Finance Directof/Accting. Manager
Reviewed By:
IPar Value by Investment Type
Treasury Securities Fidelity
1% 7%
Flex Repurchase
Agrmt.
11%
Cash
2%
Agency Securitie.~
42%
Tex Pool
37%
Par Value by DealerI
Tex Pool
37%
Coastal Securities
4%
Fidelity Money Market
7%
First Tennessee
17%
2%
Flex Repurchase Agrmt.
11%
Zions Bank
1%
Vining Sparks
12%
Smi~ Barney
9%
Market Value by IssuerI
Tex Pool
37%
US Treasury
1%
Flex Repurchase
-- Agrmt.
11%
Cash
2%
Fidelity
7%
FFCB
2%
SLMA FHLMC
0% FNMA
18% 7%
-'HLB
15%
Investment Yield by TypeI
Treasury Coupon
Securities
21%
Fidelity Money
Market
7%
Flex Repurchase
Agrmt.
28%
Agency Coupon
Securities
29%
Cash
4%
Tex Pool
11%
80,000,000
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
Quarterly Interest EarningsI
$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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