HomeMy WebLinkAbout03/24/2009 17B 4th Quarter 2008 Treasury Report BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. x` 17 B
For Meeting Of 3 -24 -2009
ITEM TITLE: 4th Quarter 2008 Treasury Report
SUBMITTED BY: Finance Department
CONTACT PERSON/TELEPHONE: Rita DeBord, Finance Director / 575 -607
Timothy Jensen, Treasury Services Off. i1 / ' 75 -6070
SUMMARY EXPLANATION:
The Treasury Report for the 3rd Quarter of 2008 consists of the following: (
• Portfolio Summary
• Schedule(s) of Investment Inventory by Maturity and first call date (
• Sales/ Calls Report (including State Pool)
• Maturities Report
• Purchases Report (including State Pool)
• Schedules of General Obligation & Revenue Bonds Payable
• LID Cash Balances, & LID Bonds & Notes Payable
• LID Warrants Payable
• LID Bonds /Notes Payable vs. LID Guaranty Fund
• Warrant Activity for Claims (Accounts Payable) & Payroll Clearing Funds
• Report of Cash Balances
(1) Schedules of investments by fund are available in the Finance Department.
(2) Refer to page(s) 3 & 4 for a description of Treasurer's Reports.
Economic Overview:
Note: Although the national economic conditions summarized below are grim, it should be
noted that the City invests in high quality government sponsored entities and has sufficient
liquidity to meet its near -term obligations.
The national economy continues to deteriorate. The weakness has spread from consumer
spending and housing to business investment, exports and employment. The national
economy posted 2.6 million job losses in 2008, and February's unemployment rate, released
Continued...
Resolution Ordinance Other (Specify) Report
Contract Mail to (name and address):
Phone:
Funding Source
APPROVED FOR SUBMITTAL:
City Manager
Manager
STAFF RECOMMENDATION: Accept Report.
BOARD /COMMISSION RECOMMENDATION: N/A
COUNCIL ACTION:
on March 6th , was a staggering 8.2 %. Consumer spending has declined every month since
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June, 2008. The final GDP for the fourth quarter was -6.2 %, making the annual 2008 GDP
growth 1.1%. CPI -U, the US City Average was .1 % for the calendar year 2008. The Fed, at
their December 16th, 2008 regular meeting cut interest rates to a range of 0% to.25% and
announced a program of buying Treasury securities in what is called "quantitative easing ".
This is an effort to lower interest rates below what can be done through monetary policy alone.
So far, credit markets have shown only tepid response to this policy. Consumer mortgage
rates have declined somewhat, but underwriting standards are more stringent than ever.
Corporate spreads to Treasuries haven't moved much, reflecting general mistrust of their
published financial positions. Borrowing costs for state and local governments declined
modestly in January, 2009 but the rally was short -lived as issuers showered the market with
pent -up supply, forcing prices down and yields up in late January and February. Timing will
be the key to achieving low municipal yields in the foreseeable future.
In other economic highlights:
• First -time claims for unemployment benefits have increased to over 600,000 per
week for all of 2009 thus far. This is the highest since 1982. This is a leading
indicator and points to still higher unemployment rates to come in 2009.
• Consumer confidence tumbled 12.4 points to another all time low of 25.0 in
February, 2009.
• National retail sales fell 2% in November, .7% excluding autos, indicating that the
consumers are slowing their spending, even as energy costs decline.
• Industrial production continues a downward trend that has been ongoing since the
first of 2008, indicating a slowing of production nationwide.
• Housing starts and permits continue to decline as the contraction in housing
continues, nationally and locally.
• Institute of Supply Management manufacturing and non - manufacturing indices for
November have fallen to their lowest levels since 1982.
• The Federal Reserve's "Beige Book ", which is a bi- monthly survey of economic
activity through the 12 Federal Reserve districts, indicates a slowing of economic
activity, particularly manufacturing, in every district.
• Inflation, both on the producer and consumer levels, is slowing as commodities
prices contract. Oil is currently around $40 a barrel and most other commodities,
except gold, continue to fall.
• Durable goods orders fell 5.2% in January, 2009 taking the year- over -year rate of
growth to - 26.4 %, now the lowest on record.
These facts and statistics indicate that the nation's economy is in a severe recession. These
conditions are anticipated to persist through much of 2009. Hopes are that the situation in the
credit markets will normalize with the implementation of the various government stimulus
plans.
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•A11 the Fed's actions at this time are committed to keeping a low interest rate environment.
Therefore it is likely that due to the conservative and short average maturity of the City's
portfolio, earnings will suffer in 2009. However, as the Treasury issues unprecedented
amounts of debt, the potential exists for interest rates to rise; we will be poised to take
advantage of this situation. Conversely, should rates remain low; short positions will allow
the City to move into longer maturities more quickly when the economic recovery finally
occurs.
The City's Investment Portfolio:
Funds available for investment come from a variety of sources including operating and capital
reserves, mandatory debt service reserves, employee benefit and risk management reserves
and bond proceeds until fully expended. Maturities are structured to best meet the cash flow
needs of the investing Fund. Current investment portfolio includes those investments
purchased in September and October in an effort to improve returns through the remainder of
2008 and through 2009.
The effective yield on the City's portfolio for the quarter ended 12/31/2008 was 3.40 %, with a
current yield to maturity of 2.22 %. Approximately 60 % of the City's $56 million portfolio was
in overnight securities at December 31St, with more than half of that liquidity required to
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- support expenditures on current projects and meet year end obligations. The average life of
the total portfolio on December 31st. was 304 days. It is a time for caution in the credit
markets, and we anticipate a low interest rate environment, as recessionary economic
indicators persist. Due to the uncertainty in the financial market, current investments are
focused on short term (one to two year) maturities with a 6 to 18 month call option.
Note: The City is not invested in any Structured Investment Vehicles (SIV's) or Collateralized
Debt Obligations (CDO's). These types of investments, along with certain asset - backed
Commercial Paper seem to be the epi- center of the sub -prime credit failures. The City has not
purchased these types of instruments: The City does hold bonds and notes drawn on such
entities as the Federal Home Loan Bank, Freddie Mac, Fannie Mae and other Government
Sponsored or controlled Enterprises. The stock of many of these entities' is currently suffering,
but they have unlimited lines of credit with the US Treasury, which makes their bonds credit
quality tantamount to Treasuries. The City's exposure to this general credit crisis is extremely
low. V
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3 of 5
Ili / Description of Treasurer's Reports
• Portfolio Summary
This report shows investment position totals by category of investment, the
percentage of the portfolio invested and market values.
• Schedule of Investment Inventory by Maturity and Call Date
This report lists all of the City's major investments, with the exception of funds in
the State pool.
• Sales / Calls Report
This report shows sales of positions and callable bonds called in the report
period. This includes State Pool trading activity.
• Maturities Report
This report shows scheduled maturities for the period covered by the report.
• Purchases Report -
This report shows purchases of all securities during the report period, including
State Pool trading activity.
• Schedules of General Obligation & Revenue Bonds Payable
This report indicates principal payments made during the reporting period, and
the current balances of the City's bonded debt.
• LID Cash Balances, & LID Bonds & Notes Payable
A Local Improvement District is an instrument utilized by citizens to fund
specific local community improvements. This report identifies outstanding
obligations relative to Local Improvement Districts' bonds and notes payable.
• LID Warrants Payable
Local Improvement District warrants are utilized until a project is complete, at
which time a bond or note is issued. This report identifies any outstanding
warrants.
4 of 5
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LID Bonds/Notes Payable vs. LID Guaranty Fund
Once a Local Improvement District bond or note is issued, there is a required
minimum reserve which the City must maintain so long as the bond or note is
outstanding. This report compares the current Local Improvement Districts
outstanding debt to the required reserve balance.
• Warrant Activity for Claims (Accounts Payable) & Payroll Clearing Funds
The City uses warrants in lieu of checks. The warrants are non - negotiable
instruments which represent obligations of the City. Included in this report is a
statement of activity and outstanding balances in the payroll and claims warrant
funds for the reporting period.
• Report of Cash Balances
This report is a listing of the balances at the end of the reporting period in each of
the City's major bank accounts.
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5 of 5
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't , ,• 7; City of Yakima ortfolio
0 " Kb r . Yakima, WA 98901
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`' ' Portfolio Summary
`'� ' `T °�` December 31, 2008
i
Par • Market Book % o f Days to YTM
Investments Value Value Value Portfolio Term Maturity
Local Government Investment Pool 36,563,034.65 • 36,563,034.65 - 36,563,034.65 58.21 1 1 1.182 •
Federal Agency Coupon Securities 4,000,000.00 4,045,000.00 4,000,079.25 • 6.37 363 122 3.523
Federal Agency Coupon - Callable 21,750,000.00 21,982,412.50 21,748,772.64 34.63 • 1,000 845 3.668
Municipal Bonds 500,000.00 505,215.00 498,600.19 0.79 1,057 334 5.032
62,813,034.65 63,095,662.15 62,810,486.73 100.00% 378 304 2.222
Investments
Total Earnings December 31 Month Ending Fiscal Year To Date Fiscal Year Ending
Current Year 133,652.89 1,897,397.18 1,897,397.18
Average Balance 59,520,942.11 55,761,351.55
Effective Rate of Return 2.64% . 3.39% •
Note: This worksheet identifies all city investments in the General Ledger except LID Notes of $334,600 , LID warrants of $74,136.33, a pass through note having an amortized cost of $14,777.60 and a •
savings account of $20,000. .
Tim Jensen, Treasury Services Officer
• i
Reporting period 12/01/2006- 12/31/2008 Portfolio BOND
• AP
Run Date: 03/17/2009 - 13:18 PM (PRF_PM1) SymRept 6.42
Report Ver. 5.00
•
By Cali Date
! t City of Yakima
r n ° , " 1'� City
Ci of Yakima Portfolio 129 North Second Street
i.(- ' 4 �V k ��'/ Inventory by Maturity Report
• Yakima, WA 98901
'` `r 1 1W. : (509)576 -6639
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December 31 2008
Sec. YTM/YTC
Purchase Book Current Maturity /Call Maturity Total Par .. Days to
CUSIP Investment # Fund Type Issuer Date Value Rate Date Amount Days Value 360 365 Mat. /Call
31331GAL3 1331 896 MC1 Federal Farm Credit Bank 09/04/2008 1,000,000.00 4.500 01/02/2009C 1,014,750.00 120 1,000,000.00 4.438 4.500 1
3133XSDB1 1338 • • 896 MC1 Federal Home Loan Bank 10/15/2008 1,000,000.00 4.000 01/15/2009C 1,010,000.00 92 1,000,000.00 3.945 4.000 14
31359ME7 1265 896 MC1 Federal Nat'I Mtg. Assoc. 01/23/2006 500,000.00 5.000 01/23/2009 512,500.00. 1,096 500,000.00 4.932 5.000 22
3133XRSP6 1325 896 MC1 Federal Home Loan Bank 07/23/2008 1,000,000.00 3.700 01/23/2009C 1,018,500.00. 184 1,000,000.00 3.649 3.700 22
3133XRSP6 1326 515 MC1 Federal Home Loarr Bank 07/23/2008 1,000,000.00 3.700 01/23/2009C 1,018,500.00 184 1,000,000.00 3.649 3.700 22
3133XRSP6 1327 551 MC1 Federal Home Loan Bank 07/23/2008 1,000,000.00 3.700 01/23/2009C 1,018,500.00 184 1,000,000.00 3.649 - 3.700 22
3128X7HZ0 1321 - 896 MC1 Federal Home Loan 04/28/2008 1,000,000.00 3.050 01/28/2009C 1,000,000.00 275 1,000,000.00 3.008 3.050 27
• 3136F9ZU0 1328 896 MC1 Federal Nat'I Mtg. Assoc. 08/18/2008 1,000,000.00 4.000 02/18/2009C 1,020,000.00 184 1,000,000.00 3.945 4.000 48
3133XS2V9 1329 896 MC1 Federal Home Loan Bank 08/21/2008 2,000,000.00 3.375 02/20/2009C 2,033,750.00 183 2,000,000.00 3.328 3.375 • 50
3133XSAN8 1332 896 MC1 Federal Home Loan Bank 10/01/2008 . 1,000,000.00 • 4.000 04/01/2009C 1,000,000.00 182 1,000,000.00 3.945 4.000 90
3133XSD70 1333 896 FAC Federal Home Loan Bank 10/02/2008 1,000,000.00 3.250 04/02/2009 1,000,000.00 182 1,000,000.00 3.250 3.295 91
31398AQS4 1320 896 MC1 Federal Nat'I Mtg. Assoc. 04/28/2008 1,000,000.00 3.500 04/28/2009C 1,000,000.00 365 1,000,000.00 3.452 3.500 117
3133XQVZ2 1322 551 FAC Federal Home Loan Bank 04/28/2008 1,000,000.00 2.520 04/28/2009 1,000,000.00 365 1,000,000.00 2.485 2.520 117
3133XSKC1 1341 896 FAC Federal Home Loan Bank 10/30/2008 1,000,000.00 3.090 04/30/2009 1,000,000.00 182 1,000,000.00 3.090 3.133 119
3133XR2K5 1323 896 MC1 Federal Home Loan Bank 05/05/2008 1,000,000.00 3.150 05/05/2009C 1,000,000.00 365 1,000,000.00 . 5.079 5.150 124
3•33XFLG9 1292 896 FAC Federal Home Loan'Bank 06/21/2007 1,000,079,25 5.250 06/12/2009 1,000,000.00 722 1,000,000.00 5.159 5.230 162
3133XPW75 1319 896 MC1 Federal Home Loan Bank 02/25/2008 250,000.00 3.000 08/25/2009 250,000.00 547 250,000.00 2.959 3.000 236 .
3133XSC89 1335 896 MC1 ,Federal Home Loan Bank 10/06/2008 2,000,000.00 3.375 10/06/2009C 2,000,000.00 365 • 2,000,000.00 3.329 3.375 278
3133XSBV9 1334 896 MC1 Federal Home Loan Bank 10/07/2008 1,000,000.00. 4.300 10/07/2009C 1,000,000.00 365 1,000,000.00 4.241 4.300 279 •
31331GDF3 1337 479 MC1 Federal Farm Credit Bank 10/15/2008 1,000,000.00 4.250 10/15/20090 1,000,000.00 365 1,000,000.00 4.192 4.250 287
3133XSGS1 1339 513 MC1 Federal Home Loan Bank 10/27/2008 1,000,000.00 3.750 10/27/20090 1,000,000.00 365 1,000,000.00 3.699 3.750 299 •
378892PY 1282 125 MUN UTGO's 01/09/2007 498,600.19 4.700 12/01/2009 500,000.00 1,057 500,000.00 4.963 5.032 334
3133XSN95 1342 896 MC1 Federal Home Loan Bank 11/24/2008 1,000,000.00 3.150 05/23/2010C 1,000,000.00 545 1,000,000.00 3.107 3.150 507
3133XPRE6 1318 896 MC1 Federal Home Loan Bank 02/25/2008 1,000,000.00 3.100 08/25/2010 1,000,000.00 912 1,000,000.00 3.058 3.100 601
31398ASQ6 1340 896 MC1 Federal Nat'I Mtg. Assoc. 10/30/2008 998,772.64 4.000 07/07/2011 1,000,000.00 980 1,000,000.00 3.995 4.050 917
3133XSPAO 1343 896 MC1 Federal Home Loan Bank . 12/09/2008 1,000,000.00 3.125 12/09/2011 1,000,000.00 1,095 . 1,000,000.00 3.082 3.125 1,072 ,
Subtotal and Average 26,247,452.08 26,396,500.00 26,250,000.00 3.700 3.751 222
Net Maturities and Average ' 26,247,452.08 26,396,500.00 26,250,000.00 3.700 3.751 222 •
.
Portfolio BOND
AP
i Run Date: 03/17/2009 • IM (mRept 6.42
ort Ver. 5.00j
,,,,
,s f Yakima
�,,v ,� City of Yakima Portfolio 129 North Second Street
',V '' Inventory by Maturity Report Yakima, WA 98901
«, eA` (509)576 -6639
,, .. *� - • December 31, 2008
•Sec. Purchase Book Current Maturity Maturity Total Par _ Y Days to
CUSIP Investment # Fund Type Issuer Date Value Rate Date Amount Days Value 360 365 Maturity
31359ME7 1265 896 MC1 Federal Nat'l Mtg. Assoc. 01/23/2006 500,000.00 5.000 01/23/2009 512 :500.00 1,096 500,000.00 4.932 5.000 22
3133XSD70 1333 896 FAC Federal Home Loan Bank 10/02/2008 1,000,000.00 3.250 04/02/2009 1,000,000.00 182 1,000,000.00 3.250 3.295 91
3133XQVZ2 1322 551 FAC Federal Home Loan Bank 04/28/2008 1,000,000.00 2.520 04/28/2009 1,000,000.00 365 1,000,000.00 2.485 2.520 117
3133XSKC1 1341 896 FAC Federal Home Loan Bank 10/30/2008 1,000,000.00 3.090 04/30/2009 1,000,000.00 182 1,000,000.00 3.090 3.133 119
3133XFLG9 1292 896 FAC Federal Home Loan Bank 06/21/2007 1,000,079.25 5.250 06/12/2009 1,000,000.00 722 1,000,000.00 5.159 5.230 162
3133XPVV75 1319 896 • MC1 Federal Home Loan Bank 02/25/2008 250,000.00 3.000 08/25/2009 250,000.00 547 250,000.00 2.959 3.000 236
378892PY 1282 125 MUN UTGO's 01/09/2007 498,600.19 4.700 12/01/2009 500,000.00 1,057 500,000.00 4.963 5.032 334
3128X7HZ0 1321 896 - MC1 Federal Home Loan 04/28/2008 1,000,000.00 3.050 04/28/2010 1,000,000.00 730 1,000,000.00 3.008 3.050 482
3133XR2K5 1323 896 MC1 Federal Home Loan Bank 05/05/2008 , 1,000,000.00 3.150 05/05/2010 1,000,000.00 730 1,000,000.00 3.107 3.150 489 •
3133XRSP6 1325 896 MC1 Federal Home Loan Bank 07/23/2008 1,000,000.00 3.700 07/23/2010 1,000,000.00 730 1,000,000.00 3.649 3.700 568
3133XRSP6 1326 515 MC1 Federal Home Loan Bank 07/23/2008 1,000,000.00 3.700 07/23/2010 1,000,000.00 730 1,000,000.00 3.649 3.700 568
3133XRSP6 1327 551 MC1 Federal Home Loan Bank 07/23/2008 1,000,000.00 3.700 07/23/2010 1,000,000.00 730 1,000,000.00 3.649 3.700 568
3133XS2V9 1329 896 MC1 Federal Home Loan Bank 08/21/2008 2,000,000.00 3.375 08/20/2010 2,000,000.00 729 2,000,000.00 3.329 3.375 596 •
3133XPRE6 1318 896 MC1 Federal Home Loan Bank 02/25/2008 1,000,000.00 3.100 08/25/2010 1,000,000.00 912 1,000,000.00 3.058 3.100 601
3133XSC89 1335 896 MC1 Federal Home Loan Bank 10/06/2008 2,000,000.00 3.375 10/06/2010 2,000,000.00 730 2,000,000.00 3.329 3.375. 643
3133XSDB1 - 1338 896 MC1 Federal Home Loan Bank 10/15/2008 1,000,000.00 4.000 10/15/2010 • 1,000,000.00 730 1,000,000.00 3.945 4.000 652
3136F9ZU0 1328 896 MC1 Federal Nat'l Mtg. Assoc. 08/18/2008 1,000,000.00 4.000 02/18/2011 1,000,000.00 914 1,000,000.00 3.945 4.000 778
31398AQS4 1320 896 MC1 Federal Nat'l Mtg. Assoc. 04/28/2008 1,000,000.00 3.500 04/28/2011 1,000,000.00 1,095 1,000,000.00 - 3.452 3.500 847
31398ASQ6 1340 896 . MC1 Federal Nat'l Mtg. Assoc. 10/30/2008 998,772.64 4.000 07/07/2011 1,000,000.00 980 1,000,000.00 3.995 4.050 917
3133XSGS1 1339 513 MC1 Federal Home Loan Bank 10/27/2008 1,000,000.00 3.750 10/27/2011 1,000,000.00 1,095 1,000,000.00 3.699 3.750 1,029
3133XSN95 1342 896 MC1 Federal Home Loan Bank 11/24/2008 1,000,000.00 3.150 11/23/2011 1,000,000.00 1,094 1,000,000.00 3.107 3.150 1,056
3133XSPAO 1343 896 MC1 Federal Home Loan Bank 12/09/2008 1,000,000.00 3.125 12/09/2011 1,000,000.00 1,095 1,000,000.00 3.082 3.125 1,072
31331GAL3 1331 896 MC1 Federal Farm Credit Bank 09/04/2008 1,000,000.00 4.500 09/04/2012 1,000,000.00 1,461 • 1,000,000.00 4.438 4.500 1,342
3133XSAN8 1332 896 MC1 Federal Home Loan Bank 10/01/2008 1,000,000.00 4.000 10/01/2012 1,000,000.00 1,461 1,000,000.00 3.945 4.000 1,369
3133XSBV9 1334 896 MC1 Federal Home Loan Bank 10/07/2008 1,000,000.00 4.300 10/07/2013 • 1,000,000.00 1,826 1,000,000.00 4.241 4.300 1,740
31331GDF3 1337 479 MC1 Federal Farm Credit Bank 10/15/2008 1,000,000.00 4.250 10/15/2013 1,000,000.00 1,826 1,000,000.00 4.192 4.250 1,748 ,
Subtotal and Average 26,247,452.08 26,262,500.00 26,250,000.00 3.625 3.675 724
Net Maturities and Average 26,247,452.08 26,262,500.00 26,250,000.00 3.625 3.675 724
Portfolio BOND
AP
Run Date: 03/17/2009 - 13:21 IM (PRF_IM) SymRept 6.42
Report Ver. 5.00j
'di o Z ! City of Yakima
i .., � ,,..
City of Yakima Portfolio 129 North Second Street
° ` 4 Sales /Call Report
Yakima, WA 98901
ti . /� (509)576 -6639
'ro~ 1 ..,* p beri ' Sorted by Maturity Date - Fund
0RAvii ti p
,. October 1, 2008 - December 31, 2008
Issuer Purchas8edem. Date Par Rate at Book Value Redemption Redemption Total
CUSIP Investment # Fund Sec. Type DateMatur. Date Value Redem. at Redem. Principal Interest Amount Net Income
10/22/2009
31398AHQ8 1304 896 FNMA 10/22/2007 10/22/2008 1,000,000.00 4.710 1,000,000.00 1,000,000.00 23,550.00 1,023,550.00 23,550.00
MC1 10/22/2009 Call
•
Subtotal 1,000,000.00 1,000,000.00 1,000,000.00 23,550.00 1,023,550.00 23,550.00
•
11/05/2010
31398AJK9 1307 896 FNMA 11/05/2007 11/05/2008 1,000,000.00 4.750 . 1,000,000.00 1,000,000.00 23,750.00 1,023,750.00 23,750.00
MC1 11/05/2010 Call
Subtotal 1,000,000.00 1,000,000.00 1,000,000.00 23,750.00 1,023,750.00 23,750.00
02/28/2011
31331GAD1 1330 896 FFCB 08/28/2008 11/28/2008 1,000,000.00 3.950 1,000,000.00 . 1,000,000.00 9,875.00 1,009,875.00 9,875.00
MC1 02/28/2011 Call
Subtotal 1,000,000.00 1,000,000.00 1,000,000.00 9,875.00 1,009,875.00 9,875.00
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10/17/2011
3133XHFM 1278 896 FHLB 10/17/2006 10/17/2008 1,000,000.00 5.300 1,000,000.00 1,000,000.00 26,500.00 1,026,500.00 26,500.00
MC1 10/17/2011 Call
I
Subtotal 1,000,000.00 1,000,000.00 1,000,000.00 26,500.00 1,026,500.00 26,500.00
11/07/2011
3133XMQN4 1306 896 FHLB 11/07/2007 11/07/2008 1,000,000.00 5.000 1,000,000.00 1,000,000.00 25,000.00 1,025,000.00 25,000.00
MC1 11/07/2011 Call
Subtotal 1,000,000.00 1,000,000.00 1,000,000.00 25,000.00 1,025,000.00 25,000.00
' 10/01/2012
3128X6MQ6 1303 896 FHLMC 10/01/2007 10/01/2008 1,000,000.00 5.250 1,000,000.00 1,000,000.00 26,250.00 1,026,250.00 26,250.00
MC1 10/01/2012 Call
Subtotal 1,000,000.00 1,000,000.00 1,000,000.00 26,250.00 1,026,250.00 26,250.00
Managed Pool Withdrawals Withdrawal Withdrawal Current Withdrawal Withdrawal
Date Amount Rate Amount Amount
• SYS1050 1050 . 896 STOFWA 01/01/2008 10/01/2008 200,000.00 1.182 200,000.00 200,000.00
SYS1050 1050 896 STOFWA 01/01/2008 10/02/2006 600,000.00 1.182 600,000.00 600,000.00
SYS1050 1050 896 STOFWA 01/01/2008 10/06/2008 4,700,000.00 1.182 4,700,000.00 4,700,000.00
' Portfolio BOND
AP
Run Date. 03/17/2009 - 1 SA (PRF' Rept 6.42 fa
Ver. 5.00
0 City of Yakima
Sales /Call Re age 2
October 1, 2008 - December 31, 2008
•
Issuer Purchaskiedem. Date Par Rate at Book Value Redemption Redemption Total
CUSIP Investment # Fund Sec. Type DateMatur. Date Value Redem. at Redem. Principal Interest Amount Net Income
Managed Pool Withdrawals Withdrawal Withdrawal Current Withdrawal Withdrawal
Date Amount Rate Amount Amount
SYS1050 1050 896 STOFWA 01/01/2008 10/07/2008 1,200,000.00 1.182 1,200,000.00 1,200,000.00
SYS1050 1050 896 STOFWA 01/01/2008 10/08/2008 100,000.00 1.182 100,000.00 100,000.00
SYS1050 1050 896 STOFWA 01/01/2008 10/09/2008 - 500,000.00 1.182 500,000.00 500,000.00
SYS1050 1050 896 STOFWA 01/01/2008 10/15/2008 1,300,000.00 1.182 1,300,000.00 1,300,000.00
SYS1050 1050 896 STOFWA 01/01/2008 10/16/2008 150,000.00 1.182 150,000.00 150,000.00
SYS1050 1050 896 STOFWA 01/01/2008 10/17/2008 1,400,000.00 1.182 1,400,000.00 1,400,000.00
SYS1050 1050 896 STOFWA 01/01/2008 10/27/2008 1,250,000.00 1.182 1,250,000.00 1,250,000.00
SYS1180 1180 896 • LGIP 01/01/2008 10/29/2008 881,882.72 1.182 881,882.72 . 881,882.72
SYS1263 1263 896 LGIP 01/01/2008 10/29/2008 , 629,979.96 1.182 629,979.96 629,979.96
SYS1050 1050 896 STOFWA 01/01/2008 10/30/2008 2,400,000.00 1.182 • 2,400,000.00 2,400,000.00
SYS1050 1050 896 STOFWA 01/01/2008 11/03/2008 1,550,000.00 1.182 1,550,000.00 1,550,000.00
SYS1180 1180 896 LGIP 01/01/2008 11/06/2008 1,690.89 1.182 1,690.89 1,690.89
SYS1263 1263 896 LGIP 01/01/2008 11/06/2008 1,207.91 1.182 1,207.91 . 1,207.91 .
SYS1050 1050 896 STOFWA 01/01/2008 11/06/2008 2,550,000.00 1.182 2,550,000.00 2,550,000.00
SYS1050 1050 896 STOFWA 01/01/2008 11/07/2008 100,000.00 1.182 100,000.00 100,000.00
SYS1050 1050 896 STOFWA 01/01/2008 11/24/2008 700,000.00 1.182 700,000.00 700,000.00
SYS1050 1050 896 STOFWA 01/01/2008 12/01/2008 800,000.00 1.182 800,000.00 800,000.00 .
SYS1050 1050 896 STOFWA 01/01/2008 12/05/2008 3,100,000.00 1.182 3,100,000.00 3,100,000.00
SYS1050 1050 896 STOFWA 01/01/2008 12/08/2008 300,000.00 1.182 300,000.00 300,000.00
SYS1050 1050 896 STOFWA 01/01/2008 12/09/2008 1,400,000.00 1.182 1,400,000.00 1,400,000.00
SYS1050 1050 896 STOFWA 01/01/2008 12/11/2008 300,000.00 1.182 300,000.00 300,000.00
SYS1050 1050 896 STOFWA 01/01/2008 12/12/2008 600,000.00 1.182 600,000.00 600,000.00
SYS1050 1050 896 STOFWA 01/01/2008 12/17/2008 1,000,000.00 1.182 • 1,000,000.00 1,000,000.00
SYS1050 1050 896 STOFWA 01/01/2008 12/23/2008 450,000.00 1.182 450,000.00 450,000.00
Subtotal 28,164,761.48 28,164,761.48 28,164,761.48
Total Sales and Withdrawals 34,164,761.48 6,000,000.00 34,164,761.48 134,925.00 34,299,686.48 134,925.00 •
•
Portfolio BOND
AP
Run Date: 03/17/2009 - 13:22 SA (PRF_SA) SymRept 6.42
Report Ver. 5.00
/! , s,��
r I City of Yakima
l �„� ,f' • x '' City of Yakima Portfolio 129 North Second Street
+4 �4 . � Maturity Report Yakima, WA 98901
1 \ 4'* (( 509)576 -6639
\v„,„,.. d' af! S b y M a t u r ity Date
': ' , . fie rrv, '' Received or due during October 1, 2008 - December 31, 2008
Sec. Maturity Purchase Rate Book Value Maturity Net
CUSIP Investment # Fund Type Issuer Par Value Date Date at Maturity at Maturity Interest Proceeds Income
0591855B0 1310 513 MUN BALT 520,000.00 10/15/2008 11/15/2007 6.500 520,000.00 16,900.00 536,900.00 16,900.00
Total Maturities 520,000.00 520,000.00 16,900.00 536,900.00 16,900.00
i
i
Portfolio BOND
AP
Run Date: 03/17/2009 • MA (PSmRept 6A2
ort Ver.
�1 ;r , .,� ;K .. ` t 410f Yakima
r.l `` ": y City of Yakima Ortfo�io 129 North Second Street
V " Purchases Report
Yak�ma,WA98901
- « � � • ; (509)576-6639
mod Sorted by Fund - Fund
a D rrlb$! 7 .
�' - October 1, 2008 - December 31, 2008
Sec. Original Purchase Principal Accrued Interest Rate at Maturity YTM Ending
CUSIP Investment # Fund Type Issuer Par Value Date Payment Periods Purchased at Purchase Purchase • Date 365 Book Value .
Irrigation Capital
31331GDF3 1337 479 MC1 FFCB 1,000,000.00 10/15/200804/15 -10/15 '1,000,000.00 4.250 10/15/2013 • 4.250 1,000,000.00
Subtotal 1,000,000.00 1,000,000.00 0.00 1,000,000.00
Emp Health Ben Res. .
3133XSGS1 1339 513 MC1 FHLB 1,000,000.00 10/27/2008 04/27 - 10/27 1,000,000.00 3.750 10/27/2011 3.750 . 1,000,000.00 •
Subtotal 1,000,000.00 1,000,000.00 0.00 1,000,000.00
Treasurer's Surplus Cash
3133XSAN8 1332 896 MC1 FHLB 1,000,000.00 10/01/200804/01 - 10/01 1,000,000.00 .4.000 10/01/2012 4.000 1,000,000.00
3133XSD70 1333 896 FAC FHLB 1,000,000.00 10/02/2008 04/02 - At Maturity 1,000,000.00 3.250 04/02/2009 3.295 1,000,000.00
3133XSC89 1335 896 MC1 FHLB 2,000,000.00 10/06/2008 04/06 - 10/06 2,000,000.00 3.375 10/06/2010 3.375 2,000,000.00
3133XSBV9 1334 896 MC1 FHLB 1,000,000.00 10/07/200804/07 -10/07 1,000,000.00 4.300 10/07/2013 4.300 1,000,000.00
3133XSDB1 1338 896 MC1 FHLB 1,000,000.00 10/15 /200801 /15 -Final Pmt. 1,000,000.00 4.000. 10/15/2010 4.000 1,000,000.00
3133XSKC1 1341 896 FAC FHLB 1,000,000.00 10/30 /200804 /30 -At Maturity 1,000,000.00 3.090 04/30/2009 3.133 1,000,000.00
31398ASQ6 1340 896 MC1 FNMA 1,000,000.00 10/30/2008 01/07 - 07/07 . 998,690.00 12,555.56 4.000 07/07/2011 4.050 998,772.64 "'.
3133XSN95 1342 896 MC1 FHLB 1,000,000.00 11/24/2008 05/23 - 11/23 1,000,000.00 3.150 11/23/2011 3.150 1,000,000.00 ' -
3133XSPAO 1343 896 MC1 FHLB 1,000,000.00 12/09/2008 06/09 - 12/09 1,000,000.00 3.125 12/09/2011 3.125 1,000,000.00
Subtotal 10,000,000.00 9,998,690.00 12,555.56 9,998,772.64
Managed Pool Deposits Deposit Deposit Deposit
• Amount Date Amount Rate
SYS1050 . . 1050 896 LA1 STOFWA 1,400,000.00 10/20/2008 1,400,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 200,000.00 10/21/2008 200,000.00 4.561
SYS1050 1050' 896 LA1 STOFWA 1,100,000.00 10/22/2008 1,100,000.00 • 4.561 .
SYS1050 1050 896 LA1 STOFWA 250,000.00 10/24/2008 250,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 100,000.00 10/28/2008 100,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 1,511,862.68 10/29/2008 1,511,862.68 4.561
SYS1050 1050 896 . LA1 STOFWA 1,800,000.00 10/31/2008 1,800,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 500,000.00 11/05/2008 500,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 900,000.00 11/05/2008 900,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 2,898.80 11/06/2008 2,898.80 4.561
SYS1050 1050 896 LA1 STOFWA 6,000,000.00 11/10/2008 6,000,000.00 4.561
•
Portfolio BOND
AP
' Run Date: 03/17/2009 - 13:24 PU (PRF_PU) SymRept 6.42
Report Ver. 5.00
i .
•
City of Yakima Portfolio
Purchases Report Page 2
October 1, 2008 - December 31, 2008
• Sec. Original Purchase Principal Accrued Interest Rate at Maturity YTM Ending
CUSIP Investment # Fund Type Issuer Par Value Date Payment Periods Purchased at Purchase Purchase Date 365 Book Value
Managed Pool Deposits Deposit Deposit Deposit
j Amount Date . Amount Rate
' SYS1050 1050 896 LA1 STOFWA 150,000.00 11/12/2008 150,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 200,000.00 11/18/2008 200,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 300,000.00 11/20/2008 300,000.00 4.561
' SYS1050 1050 896 LA1 STOFWA 300,000.00 11/25/2008 300,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 2,275,000.00 11/26/2008 2,275,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 550,000.00 12/02/2008 550,000.00 4.561
. SYS1050 1050 896 LA1 STOFWA 1,400,000.00 12/10/2008 1,400,000.00 4.561
. SYS1050 1050 896 LA1 STOFWA 150,000.00 12/15/2008 150,000.00 4.561
i , SYS1050 1050 • 896 LA1 STOFWA 150,000.00 12/16/2008 150,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 200,000.00 12/18/2008 200,000.00 4.561
SYS1050 ' 1050 896 LA1 STOFWA 200,000.00 12/22/2008 200,000.00 4.561
. SYS1050 1050 896 LA1 STOFWA 1,700,000.00 12/24/2008 1,700,000.00 4.561 .
' SYS1050 1050 896 LA1 STOFWA 100,000.00 12/29/2008 100,000.00 4.561 '
SYS1050 1050 896 LA1 STOFWA 400,000.00 12/30/2008 400,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 2,500,000.00 12/31/2008 2,500,000.00 4.561
. Subtotal 24,339,761.48 24,339,761.48
Total Purchases and Deposits 36,339,761.48 36,338,451.48 12,555.56 11,998,772.64
•
•
Portfolio BOND
. AP
Run Date: 03/17/2009 - • Rept 6.42
PU (P
• rt Ver. 5.00
III CITY OF YAKIMA
SCHEDULE OF GENERAL OBLIGATION
AND REVENUE BOND ACTIVITY
For the Period 10/1/2008 through 12/31/2008
PREVIOUS AMOUNT AMOUNT ENDING
FUND DESCRIPTION BALANCE REDEEMED ISSUED BALANCE
GENERAL OBLIGATION BONDS
272 PFD CONVENTION CENTER - unrefunded $885,000 $0 $0 $885,000
272 PFD CONVENTION CENTER - refunded 4,900,000 0 0 4,900,000
281 PARKS AND RECREATION 630,000 70,000 0 560,000
281 FIRE/DOWNTOWN/RIVER ROAD 3,810,000
•
0 0 3,810,000
283 LAW & JUSTICE/I -82 Refunded 2,800,000 440,000 0 2,360,000
284 FIRE Refunded 1,780,000 235,000 0 1,545,000
285 G. O. LINE OF CREDIT 0 0 0 0
287 CONVENTION CENTER Refunded 4,000,000 280,000 0 3,720,000
000 SUNDOME EXPANSION • 1,362,913 64,861 0 1,298,052
281 2008 LTGO Infrastructure and Fire truck 2,950,000 55,000 0 2,895,000
SUB -TOTAL 23,117,913 1,144,861 0 21,973,052 .
4110 ,
R EVENUE BONDS
488 WATER/WASTEWATER Refunded . 3,400,000 15,000 3,385,000
488 SEWER Refunded 350,000 350,000 0
491 IRRIGATION 4,805,000 - 0 4,805,000
493 SEWER 14,855,000 685,000 14,170,000
488 WASTEWATER IMPROVEMENTS 5,440,000 75,000 5,365,000
SUB -TOTAL 28,850,000 1,125,000 0 27,725,000
GRAND TOTAL $51,967,913 $2,269,861 $0 $49,698,052
ID
_ _
LID CASH BALANCES LID BONDS AND NOTES PAYABLE
As Of Quarter Ending December 31st.,2008 As Of Quarter Ending December 31st.,2008
1
LID Current LID Original New LID Invested By
District District Bond Beginning Quarter Amount Districts Ending Quarter
No. Cash Balance Assessment Balance Paid Added Balance
1055 2,609.42 182,759.24 9,000.00 4,500.00 0.00 4,500.00 Equipment Rental
1056 4,010.67 218,481.02 140,900.00 15,500.00 0.00 125,400.00 Equipment Rental
1057 - 3,825.68 179,550.01 105,600.00 5,600.00 0.00 100,000.00 Equipment Rental
1058 4,647.69 160,868.69 115,200.00 10,500.00 0.00 104,700.00 Equipment Rental
Totals $7,442.10 $784,410.91 $370,700.00 $36,100.00 $0.00 $334,600.00
Payments are typically made at the end of the year
III II) •
•
City of Yakima
LID WARRANTS PAYABLE
AS OF QUARTER ENDING DECEMBER 31st, 2008
Balance Amount Amount
Account Number Previous Quarter Issued Redeemed Balance
21101.059 $5,408.56 $0.00 $0.00 $5,408.56
Englewood Terrace
21101.060 32,767.77 3,961.69 0.00 36,729.46
85th and Kale
21101.061 24,524.80 7,473.51 0.00 31,998.31
Simpson Lane
fra Total Warrants Payable $62,701.13 $11,435.20 $0.00 $74,136.33
(1) Costs to LID in progress for which final assessment has not been confirmed.
•
City of Yakima •
LID BONDS / NOTES PAYABLE
vs.
LID GUARANTY FUND
AS OF QUARTER ENDING DECEMBER 31st, 2008
Outstanding Bonds and Notes Payable $334,600.00
10% of Outstanding Balance $33,460.00
Guaranty Fund -221 $79,990.94
10% of Outstanding LID's Bonds and Notes Payable ($33,460.00)
Amount above (below) statutory minimum $46,530.94 •
110
• CITY OF YAKIMA
WARRANT ACTIVITY
CLAIMS ACCOUNTS PAYABLE FUND
(For the Period October 1, 2008 to December 31, 2008)
Outstanding Warrants 09/30/08 1 $374,785.12
October Warrants:
Issued $5,638,518.68
Canceled ($166,697.60)
Redeemed ($5,134,839.84)
Net Activity 336,981.24
Outstanding Warrants 10/31/08 $711,766.36
November Warrants:
Issued $3,429,344.51
Canceled ($1,762.64)
Redeemed ($3,000,176.20)
Net Activity 427,405.67
Outstanding Warrants 11/30/08 $1,139,172.03
December Warrants:
Issued $4,774,168.53
Canceled ($6,414.24)
Redeemed ($4,959,857.20)
Net Activity (192,102.91)
Outstanding Warrants 12/31/08 1 $947,069.12
claims warrants /tab
CITY OF YAKIMA 111111
WARRANT ACTIVITY
PAYROLL FUND
(For the Period October 1, 2008 to December 31, 2008)
Outstanding Warrants 09/30/08 $978.21
•
October Warrants:
Issued $2,773,947.02
Canceled $0.00
Redeemed ($2,772,776.03)
Net Activity 1,170.99
Outstanding Warrants 10/31/08 $2,149.20 ill
November Warrants:
Issued $2,772,225.28
Canceled $0.00
Redeemed ($2,770,368.98)
Net Activity 1,856.30
Outstanding Warrants 11/30/08 $4,005.50
December Warrants:
Issued $2,747,064.30
Canceled ($831.48)
Redeemed ($2,743,823.68)
Net Activity 2,409.14
Outstanding Warrants 12/31/08 $6,414.64
•
payroll warrants /tab
• CITY OF YAKIMA
REPORT OF CASH BALANCES
December 31, 2008
Key Bank 364,036.75
Bank of New York (Fiscal Agent)(1) 0.00
U.S. Bank (Housing loan repayments) 459,515.09
Bank of America (Housing Rehab) 63,583.09
Yakima Federal Savings and Loan Association (Housing) 161,855.47
Bank of America (Claims Control) 520,274.40
U. S. Bank (Payroll Control) . 10,134.31
III Inmate Trust - Key Bank 15,344.78
Inmate Welfare - Key Bank 8,717.17
Municipal Court - Key Bank 233,081.15
Petty Cash (2) 3,475.00
Police - Special Investigations(2) 7,500.00
Change Funds (3) 3,780.00
Travel Advance 4,617.47
Total Cash On Hand and
In Bank Accounts 12/31/08 $1,855,914.68
1 Balance is zero as all coupons and principal has been paid to bond holders.
2 Represents impressed amounts. Cash on hand plus receipts for paid items equals this amount
per Resolution R2008 -32
3 Change for customers established by Resolution R2008 -32
0
•
qtr cash bal /tab