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Home My WebLink About04.b. Review Investment Portfolio Report for the month of January 2020 Page 1 of 5 Item 4.b. CENTRAL SAN February 18, 2020 TO: FINANCE COMMITTEE FROM: CHRIS THOMAS, FINANCE ADMINISTRATOR KEVIN MIZUNO, FINANCE MANAGER REVIEWED BY: PHILIP LEIBER, DIRECTOR OF FINANCE AND ADMINISTRATION ANN SASAKI, DEPUTY GENERAL MANAGER ROGER S. BAILEY, GENERAL MANAGER SUBJECT: REVIEW INVESTMENT PORTFOLIO REPORT FOR THE MONTH OF JANUARY 2020 I n accordance with California Government Code Section 53646, staff shall submit an investment report to the General Manager and Board of Directors. While state law mandates this reporting shall be done at least quarterly, Central San's Investment Policy further stipulates this reporting shall be conducted on a monthly basis. Accordingly, attached is the investment report for the month of January 2020, which will be reviewed with the Finance Committee on February 18, 2020. The investments held by Central San on January 31, 2020 are shown by fund in the attached Investment Portfolio Report. Pursuant to the Investment Policy and state law, the Investment Portfolio Report reports the following: type of investment, issuer, date of maturity, par(or face) and dollar amount invested on all securities, as well as the current market value as of the date of the report. The following table provides a summary of the highlights included in the attached Investment Portfolio Report: Fund Total Total Market Wgtd. Wgtd. FY 2019-20 FY 2019-20 Face Value Avg. Avg. Actual Int. Budgeted Int. Value Yield Maturity Rev. (YTD) Rev. (YTD) Running $45.1 M $45,262,885 1.76% 0.15 years $304,921 $554,162 Expense Sewer $60.OM $60,150,169 1.89% 0.11 years $647,252 $393,162 Construction Self-Insurance $6.9M $6,947,203 1.96% N/A $91,008 $80,731 The portfolio is in compliance with the Board's policy regarding Central San's investments as of January 31, 2020 [Califomia Govemment Code §53646(b)(2)]. Furthermore, the attached Investment Portfolio reports state that sufficient liquidity and anticipated revenues are available for Central San to meet budgeted expenditures for the next six (6) months [California Government Code §53646(b)(3)]. February 18, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 40 of 80 Page 2 of 5 Strategic Plan Tie-In GOAL THREE: Be a Fiscally Sound and Effective Water Sector Utility Strategy 2- Manage costs ATTACHMENTS: 1. January 2020 Investment Portfolio Reports February 18, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 41 of 80 CENTRAL CONTRA COSTA SANITARY DISTRICT RUNNING EXPENSE FUND TEMPORARY INVESTMENTS JANUARY,2020 INVESTMENTS INTEREST INCOME (cents omitted) (cents omitted) DATE OF Days to ANNUAL CASH B.O.M. PURCHASE E.O.M. E.O.M %of CURRENT B.O.M. E.O.M. NO. ISSUER TYPE PURCHASE MATURITY Maturity YIELD OUTLAY FACE VALUE (MATURITY) FACE VALUE MKT VALUE Portfolio MONTH CUMULATIVE CUMULATIVE 519 State of Calif. LAIF 10/99- ------- 1 (1) $23,100,000 $23,100,000 $23,100,000 $23,258,028 51.22% $38,454 $150,901 $189,354 RE13 FHLB FED AGENCY 9/18/2019 3/20/2020 49 1.899% 3,962,178 4,000,000 4,000,000 4,071,881 8.87% 6,372 21,583 27,956 RE14 FHLB FED AGENCY 9/18/2019 3/18/2020 47 1.909% 3,962,387 4,000,000 4,000,000 3,952,436 8.87% 6,407 21,700 28,107 RE15 FHLB FED AGENCY 12/20/2019 3/6/2020 60 1.612% 13,952,688 14,000,000 14,000,000 13,980,540 31.04% 19,298 6,848 26,146 (3) $44,977,252 $45,100,000 $0 $45,100,000 $45,262,885 100.00% 70,531 201,032 271,563 (2) 33,358 33,358 $70,531 $234,390 $304,921 NOTE:(1) Annual yield of Local Agency Investment Fund(LAIF)varies with the composition of the Fund. The estimated yield as of January,2020 was 1.96%. (2) The face value indicates the value of the investment if held until maturity,which is the usual District Practice. (3) The weighted average yield of the total Running Expense portfolio is 1.7623%. The weighted average maturity is.15 years. (4) The market value of the portfolio on January 31,2020 was$45,262,885. (5) All investments held by the Running Expense Fund comply with Central San's investment policy approved by the Board of Directors[California Government Code 453646(b)(2)1 (6)Sufficient liquidity and anticipated revenues are available for Central San to meet budgeted expenditures of the Running Expense fund for the next six(6)months[California Government Code§53646(b)(3)] February 18, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 42 of 80 CENTRAL CONTRA COSTA SANITARY DISTRICT SEWER CONSTRUCTION FUND TEMPORARY INVESTMENTS JANUARY,2020 INVESTMENTS INTEREST INCOME (cents omitted) (cents omitted) DATE OF Days to ANNUAL CASH B.O.M. PURCHASE E.O.M. E.O.M. %of CURRENT B.O.M. E.O.M. NO. ISSUER TYPE PURCHASE MATURITY Maturity YIELD OUTLAY FACE VALUE (MATURITY) FACE VALUE MKT VALUE Portfolio MONTH CUMULATIVE CUMULATIVE 519 State of Calif. LAIF 8/86-2/90 ---- 1 (1) $35,000,000 $35,000,000 $35,000,000 $35,239,436 58.33% $58,263 $265,602 $323,865 949 FHLB Fed Agency 9/18/19 03/20/20 49 1.90 4,952,722 5,000,000 5,000,000 5,029,970 8.33% 7,965 26,979 34,944 950 FHLB Fed Agency 9/18/19 03/18/20 47 1.91 4,952,983 5,000,000 5,000,000 5,030,374 8.33% 8,008 27,125 35,133 951 FHLB Fed Agency 12/23/19 3/20/20 48 1.62 14,941,883 15,000,000 15,000,000 14,850,389 25.00% 20,473 5,944 26,417 (4) $59,847,589 $60,000,000 $0 $60,000,000 $60,150,169 100.00% 94,710 325,650 420,360 (3) (5) 226,892 226,892 $94.710 $552.542 $647.252 NOTE: (1) Annual Yield of Local Agency Investment Fund(LAIF)varies with the composition of the Fund. The estimated yield as of January,2020 was 1.960%. (2) The face value indicates the value of the investment if held until maturity, which is the usual District practice. (3) The weighted average yield of the total Sewer Construction portfolio is 1.8915%. The weighted average maturity is.11 years. (4) The market value of the portfolio on January 31,2020 was$60,150,169. GASB 31 requires adjusting investments to market value. The District will adjust annually,but report market values monthly. (5) All investments held by the Sewer Construction Fund comply with Central San's investment policy approved by the Board of Directors[California Government Code§53646(b)(2)] (6)Sufficient liquidity and anticipated revenues are available for Central San to meet budgeted expenditures of the Sewer Construction fund for the next six(6)months[California Government Code§53646(b)(3)] February 18, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 43 of 80 CENTRAL CONTRA COSTA SANITARY DISTRICT SELF-INSURANCE FUND TEMPORARY INVESTMENTS JANUARY,2020 INVESTMENTS INTEREST INCOME (cents omitted) (cents omitted) DATE OF Days to ANNUAL CASH B.O.M. PURCHASE E.O.M. E.O.M %of CURRENT B.O.M. E.O.M. NO. ISSUER TYPE PURCHASE MATURITY Maturity YIELD OUTLAY FACE VALUE (MATURITY) FACE VALUE MKT VALUE Portfolio MONTH CUMULATIVE CUMULATIVE 519 State of Calif. LAIF 10/99- ------- 1 (1) $6,900,000 $6,900,000 $6,900,000 $6,947,203 100.00% $11,486.14 $77,170.12 $88,656.26 (3) $6,900,000 $6,900,000 $0 $6,900,000 $6,947,203 100.00% 11,486 77,170 88,656 (2) (4) 2,351 2,351 $11,486.14 $79,521.39 $91,007.53 NOTE: (1) Annual yield of Local Agency Investment Fund(LAIF)varies with the composition of the Fund. The estimated yield as of January,2020 was 1.960%. (2) The face value indicates the value of the investment if held until maturity,which is the usual District Practice. (3) The weighted average yield of the total Self-Insurance portfolio is 1.960%. (4) The market value of the portfolio on January 31,2020 was$6,947,203. (5) All investments held by the Self Insurance Fund comply with Central San's investment policy approved by the Board of Directors[California Government Code§53646(b)(2)] (6)Sufficient liquidity and anticipated revenues are available for Central San to meet budgeted expenditures of the Self Insurance fund for the next six(6)months[California Government Code§53646(b)(3)] February 18, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 44 of 80