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Home My WebLink AboutMINUTES - 06092009 - C.77RECOMMENDATION(S): Accept the Treasurer's Investment Report as of March 31, 2009. FISCAL IMPACT: None. BACKGROUND: Government Code Section 53646 requires the County Treasurer to prepare quarterly reports to the Board of Supervisors describing County investments including type, cost, par value, and market value. Attached please find the report covering the period January 1, 2009 to March 31, 2009. Section 3 of the balance of the report is an appendix with financial data, which is available for reference at the Clerk of the Board's Office. APPROVE OTHER RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE Action of Board On: 06/09/2009 APPROVED AS RECOMMENDED OTHER Clerks Notes: VOTE OF SUPERVISORS AYE:John Gioia, District I Supervisor Gayle B. Uilkema, District II Supervisor Mary N. Piepho, District III Supervisor Susan A. Bonilla, District IV Supervisor Federal D. Glover, District V Supervisor Contact: Meredith Boeger 925-957-2806 I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown. ATTESTED: June 9, 2009 David J. Twa, County Administrator and Clerk of the Board of Supervisors By: Katherine Sinclair, Deputy cc: C.77 To:Board of Supervisors From:William J. Pollacek, Treasurer-Tax Collector Date:June 9, 2009 Contra Costa County Subject:Treasurer-Tax Collector's Quarterly Investment Report as of March 31, 2009 ATTACHMENTS Investment Report CONTRA COSTA COUNTY TREASURER’S QUARTERLY INVESTMENT REPORT AS OF MARCH 31, 2009 TABLE OF CONTENTS Page I. Executive Summary 1 II. Contra Costa County Investment Pool Summary 2 III. Appendix A. Investment Portfolio Detail—Managed by Treasurer’s Office 4 1. Portfolio Summary 5 2. Portfolio Detail 6 3. Market Valuation Sources 25 B. Investment Portfolio Detail—Managed by Outside Contracted Parties 1. State of California Local Agency Investment Fund 1-1 a. Summary 1-2 b. Statements 1-3 2. Capital Asset Management Funds 2-1 a. Wells Fargo Bank 2-2 b. Columbia Management Group (Bank of America) 2-13 c. CalTrust 2-27 3. California Arbitrage Management Program for Redevelopment Agency 3-1 (Contra Costa County Public Financing Authority) a. Summary 3-2 b. Statements 3-3 4. Other 4-1 EXECUTIVE SUMMARY • The Treasurer's investment portfolio is in compliance with Government Code 53600 et. seq.. • The Treasurer's investment portfolio is in compliance with the Treasurer's current investment policy. • The Treasurer’s investment portfolio has no securities lending, reverse repurchase agreements or derivatives. • The total investment pool equaled $1,898,584,707 on March 31, 2009. The fair value was $1,903,858,637 which was 100.3% of cost. • The weighted average maturity of the total investment pool was 105.28 days. More than 88 percent of the portfolio or over $1.697 billion will mature in less than a year. The County is unable to determine if it can meet its cash flow needs for the next six months due to the State’s cash and budget deficit. A:\word\executiv.sum CONTRA COSTA COUNTY INVESTMENT POOL As of March 31, 2009 PORTFOLIO TYPE PAR VALUE COST FAIR VALUE % OF COST A. Investments Managed by Treasurer's Office 1. U.S. Treasuries (STRIPS, Bills, Notes) 21,336,000.00 20,854,375.69 21,973,371.28 1.10% 2. U.S. Agencies Federal Agriculture Mortgage Corporation 6,751,000.00 7,032,398.93 7,231,823.75 0.37% Federal Home Loan Banks 155,037,000.00 156,591,890.56 159,258,142.68 8.25% Federal National Mortgage Association 50,429,000.00 50,397,065.92 51,581,954.38 2.65% Federal Farm Credit Banks 24,700,000.00 24,924,335.64 25,415,704.69 1.31% Federal Home Loan Mortgage Corporation 38,617,717.12 38,900,161.30 38,998,740.36 2.05% Municipal Bonds 2,700,000.00 2,704,005.00 2,704,005.00 0.14% Subtotal 278,234,717.12 280,549,857.35 285,190,370.86 14.78% 3. Money Market Instruments Bankers Acceptances 58,011,000.00 57,926,223.69 57,810,381.59 3.05% Repurchase Agreement 209,547,000.00 209,547,000.00 209,547,000.00 11.04% Commercial Paper 430,653,000.00 430,351,460.88 430,272,216.12 22.67% Negotiable Certificates of Deposit 189,000,000.00 189,000,243.00 188,587,157.13 9.95% Corporate Notes 49,372,000.00 49,751,187.95 49,007,653.47 2.62% Time Deposit 20,003,076.96 20,003,076.96 19,936,835.01 1.05% Subtotal 956,586,076.96 956,579,192.48 955,161,243.32 50.38% TOTAL 1,256,156,794.08 1,257,983,425.52 1,262,324,985.46 66.26% B. Investments Managed by Outside Contractors 1. Local Agency Investment Fund 431,441,674.65 431,441,674.65 432,231,011.00 22.72% 2. Other a. California Asset Management Program (RDA) 29,173.38 29,173.38 29,249.01 0.00% c. Other (BNY, Mechanics, CCFCU) 525,001.25 525,001.25 535,264.54 0.03% d. Wells Fargo Asset Management (324-131235) 45,283,066.00 45,283,066.00 45,420,022.66 2.39% e. Columbia Management Group (Bank of America) 39,015,245.00 39,015,245.00 39,013,644.00 2.05% f. Caltrust 44,607,916.48 44,607,916.48 44,605,255.86 2.35% Subtotal 129,460,402.11 129,460,402.11 129,603,436.07 6.82% TOTAL 560,902,076.76 560,902,076.76 561,834,447.07 29.54% C. Cash 79,699,204.55 79,699,204.55 79,699,204.55 4.20% GRAND TOTAL (FOR A , B, & C) $1,896,758,075.39 $1,898,584,706.83 $1,903,858,637.08 100.00% NOTES TO INVESTMENT PORTFOLIO SUMMARY AS OF MARCH 31, 2009 1. All report information is unaudited but due diligence was utilized in its preparation. 2. There may be slight differences between the portfolio summary page and the attached exhibits and statements for investments managed by outside contractors or trustees. The variance is due to the timing difference in recording transactions accomplished by contracted parties during interim periods and later transmitted to the appropriate county agency and/or the Treasurer’s Office. In general, the Treasurer’s records reflect booked costs at the beginning of a period.