HomeMy WebLinkAbout09/07/2010 09A 2nd Quarter 2010 Treasury Report 0 BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. (7 A
For Meeting of 09 -07 -10
ITEM TITLE: City of Yakima - 2nd Quarter 2010 Treasury Report
SUBMITTED BY: Finance Department
CONTACT PERSON/TELEPHONE: Jon Lorberau, Treasury Services Officer / 575 -6024
Rita DeBord, Finance Director / 575 -607
SUMMARY EXPLANATION:
The Treasury Report for the second Quarter of 2010 consists of the following: (
• Investment Portfolio - Summary by General Type
• Investment Portfolio - Detail of Investments by Issuer
• Investment Portfolio - Activity Report /Purchases and Calls/ Maturities
III • Report of Cash Balances as of June 30, 2010
• City of Yakima - Schedule of Outstanding General Obligation & Revenue Bonds
• LID Cash Balances, & LID Bonds & Notes Payable
• LID Warrants Payable
• LID Bonds/ Notes Payable vs. LID Guaranty Fund
(1) Refer to page 4 for a description of Treasurer's Reports.
Economic Overview
It was a very volatile 2nd Quarter in both US stocks and bonds. Large up and down
movements in stocks and bonds are occurring more frequently. The stock market continues to
react to continuing concerns about sovereign debt levels, corporate earnings, the Gulf oil spill,
and the lack of jobs while bond market is benefiting from increased bond demand as investors
move investments out of stocks.
Resolution Ordinance Other (Specify) Report
Contract Mail to (name a address):
APPROVED FOR SUBMITTAL: .,
City Manager -
STAFF RECOMMENDATION: Accept Report.
BOARD /COMMISSION RECOMMENDATION: N/A
COUNCIL ACTION:
The lack of supporting economic data adds to the uncertainty about the US economy in the
second half of 2010. The Consumer Confidence Index which is a survey of consumer attitudes
on present and future economic conditions was 57.7 to start the second Quarter but closed the
quarter at 52.9, a drop that usually corresponds to an economic shock. The Philadelphia
Federal and the New York Empire State manufacturing indexes were 31.9 and 20.2 in April but
both fell to 5.1 to start 3 Quarter. The Leading Indicators Index for July was at -.2% and
further hints at trouble in the manufacturing sector. Recent lowering of 2010 -2011 US
economic expectations by various economists and Ben Bernanke, the Chairman of the Federal
Open Market Committee and the lack of job growth are of special concern.
State and local government entities have been affected in various degrees by what is
happening around the world. Depending on location and budget practices, a variety of
methods are being used to adjust for shortfalls in revenues and pension plans including
combinations of furloughs, lay -offs, asset sales or bankruptcy.
The national economic health picture has continuing effects for the City of Yakima. Consumer
entrenchment and unemployment has already shown up as declines in the City's sales tax
revenues and property taxes. Monitoring of trends in global, national and local economies
continue to be a primary focus for the Finance Department.
The City's Investment Portfolio
The City's investment activities are governed by State regulations and Yakima's
g y gu d the City of Yakima s
Investment Policy, as revised 3/24/09.
The Bond Market
Bonds moved much lower in yield towards the end of the 2 Quarter and into 3rd Quarter.
While 1st Quarter saw two year Treasury notes as high as 1.15 %, two year US Treasury notes
were as low as .48 % on August 23rd. The main reason is attributed to a variety of sources:
"flight to qualify," weak US economic data, worldwide economic fears, and volatility in global
equities. These factors have increased demand for US Treasury debt and have driven down
bond yields across all maturities.
While higher market yields will benefit the City but slowly over time, lower yields reduce the
Security Portfolio's yield as called securities are invested in lower yielding instruments. The
recent decrease in yields effect was somewhat mitigated earlier in the year by the purchase of
securities with longer periods of time before their first call period.
Snapshot of the Portfolio - 06/30/10
The City's Investment Portfolio can be divided into two general buckets:
1) A Liquidity Portfolio of overnight investments.
2) A Security Portfolio of investments in various securities with maturities out to five
years.
Page 2 of 4 9 -7 -10 2nd Qtr 2010 Treasury Rep.doc
4i , The effective yield on the City's entire Investment Portfolio on 6/30/10 was 1.24, down from
the portfolio's yield of 1.48% at the end of 1St Quarter. Total yield on all investments was
1.40% on 12/31/2009 and 1.23% on 9/30/09.
The overall Investment Portfolio yield declined due to the addition of lower yielding securities
during the second quarter.
The Liquidity Portfolio is invested predominately with the State of Washington Investment
Pool and was 56% of the total portfolio as of 06/30/10. The yield on overnight funds has
started to improve, rising to .30% for the month of June after falling from .33 on December 31,
2009 to .22% for the month of March, 2010
The Security Portfolio (44% of the total portfolio) yields an average 2.465 %, up from 2.44% on
March 30, 2010 and up from 2.35% on December 31, 2009. The Security Portfolio is comprised
of securities that are held with a third party custodian and are all US Government Agency
callable securities except for $10,200 investment of a FNMA Mortgage Backed Security.
Investment Composition Strategy
For the rest of 2010, the City looks to maintain a Liquidity Portfolio of approximately 30 -40%
of total funds so that the City has sufficient funds to meet unexpected expenses, cover cash
flow needs due to any "mistiming" of expenditures and revenues, and for unforeseen fiscal
emergencies. The Liquid Portfolio is available for use by City each day and as such yields
• very little.
The Security Portfolio uses predominately callable US government agency securities as the
primary investment security. These securities have a final maturity of 2 -5 years, although the
call features allow these securities to be retired much earlier than their respective final
maturity by their issuers. Callable agency securities serve three purposes:
(1) The City earns a higher coupon (yield) than it would have earned from a non - callable
security with the same maturity date and same issuer;
(2) The actual experienced maturity of a callable security is usually shorter than its stated
maturity due to its inherent call features. Calls on existing securities allows for a certain
amount of investment flexibility which can lead to higher current interest income much sooner
than if the securities were non - callable;
(3) By buying US Agency callable securities, the City's security investments have the direct or
implied backing of the US Government and as such, any of the City's securities could be sold
immediately at current market prices for cash if the need arose.
The City owns securities issued by US government- backed entities such as the Federal Home
Loan Bank ( "FHLB "), Freddie Mac ( "FHLMC "), Fannie Mae ( "FNMA "), and Federal Farm
Credit ( "FFCB "). While the public stock of FHLMC and FNMA are currently suffering, they
do have lines of credit with, investment by, and the support of the US Treasury. The City's
risk of loss due to credit exposure from any of these agencies is thought to be miniscule.
0 The City does not invest nor own any Structured Investment Vehicles (SIV's), Collaterized Mortgage
Obligations ( CMO's), Collateralized Debt Obligations (CDO's) or asset - backed Commercial Paper.
Page 3 of 4 9 -7 -10 2nd Qtr 2010 Treasury Rep.doc
•
®
Description of Treasurer's Reports
• Investment Portfolio - .Summary by General Type
This report shows investment position totals by category of investment, the
percentage of the portfolio invested and market values.
• Investment Portfolio - Detail of Investments in Securities by Issuer
This report lists all of the City's major security investments, including funds in
the State of Washington Investment pool.
• Investment Portfolio - Activity Report/Purchases and Calls/Maturities
This report shows the activity of security purchases and sales /maturities /calls of
positions and callable bonds in the report period.
• 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.
• 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.
f
Page 4 of 4 9 =7 -10 2nd Qtr 2010 Treasury Rep.doc
„44•Iri..14. • • • Aik ,
t �� .
y of Yakima
City o f Yakima Portfolio
�� $` j `Y 129 North Second Street
t { , y yp Yakima, WA 98901
`
Summa b Type
t ;� i A'► srsn . June 30, 2010 (509)576 -6639
•
. Number of Par % of Average Average Days
Security Type - Investments Value Book Value' Portfolio
YTM 365 to Maturity
Local Government Investment Pool 1 27,829,119.03 27,829,119.03 56.47 0.301 1
Federal Agency Coupon - Callable 18 21,461,000.00 21,452,788.43 43.53 2.465 1;184
Total and Average 19 49,290,119.03 49,281,907-.46 100.00 1.243 516 '
•
•
•
•
•
•
•
•
Portfolio BOND
. AP
Run Date; 08123!2010 - 11:21 ST (PRF_ST) SymRept 6.42
Report Ver. 5.00
•
fr ,1
1 ` City of Yakima
City of Yakima Portfolio 129 North Second Street • � F � • Investments by Issuer Yakima, WA 98901
.' y • A c t ive Investments (509)576-6639
`�' '=`f Sorted by Investment Number
June 30, 2010
Investment Current Market YTM Redemption • Days To Call.
GUSIP Investment # Security Type Class Book Value Rate Market Value Date 365. Date Maturity Date Collateral
Federal Farm Credit Bank
•
31331GDF3 1365 Federal Agency Coupon - Callable Fair • 1,000,000.00 4.250 1,010,630.00 06/30/2010 4.250 10/15/2013 1,202 10/15/2010
•
31331JMC4 1394 Federal Agency Coupon - Callable Fair 1,496,566.18 2.000 1,500,000.00 06/30/2010 2.033 07/26/2010 25 07/26/2010
31331JPP2 1397 Federal Agency Coupon - Callable Fair 1,997,064.39 2.000 2,000,000.00 06/30/2010 2.045 12/02/2013 • 1,250 09/02/2010 .
31331JQQ9 • 1398 Federal Agency Coupon - Callable Fair 1,125,000.00 2.000 1,125,000.00 06/30/2010 2.000 09/03/2010 64 09/03/2010 .
Subtotal and Average 5,620,630.57 5,635,630.00 2.425 677
Federal Home Loan Bank . , .
3133XPRE6 1318 Federal Agency Coupon - Callable Fair 1,000,000.00 3.100 1,004,380.00 06/30/2010 3.100 08/25/2010 55
3133XSN95 1342 Federal Agency Coupon - Callable Fair 1,000,000.00 3.150 1,010,940.00 06/30/2010 3.150 11/23/2011 510 .
3133XXU21 1385 Federal Agency Coupon - Callable Fair 1,248,583.96 2.400 1,250,387,50 06/30/2010 2.434 07/06/2010 • 5 07/06/2010
3133XYDE2 1391 Federal Agency Coupon - Callable Fair 1,500,000.00 2.300 1,500,000.00 06/30/2010 2.300 08/12/2010 42 08/12/2010
3133XY2C8 1392 Federal Agency Coupon - Callable . Fair 998,125.25 1.800 1,000,940.00 06/30/2010 1.875 07/29/2010 28 07/29/2010
3133XXZR1 1393 Federal Agency Coupon - Callable Fair 2,000,000.00 2.000 2,008,760.00 06/30/2010 2.000 04/26/2013 1,030 10/26/2010
• 3133XXU39 1395 Federal Agency Coupon - Callable Fair 1,500,000.00 2.800 1,500,465.00 06/30/2010 2.797 07/06/2010 5 07/06/2010
• Subtotal and Average 9,246,709.21 9,275,872.50 2.466 295
Federal Home Loan Mortgage Co.
3133F4GU9 1371 Federal Agency Coupon - Callable Fair 499,509.06. 1.000 500,840.00 06/30/2010 1.140 10/15/2012 837 10/15/2010
3128X9L81 1382 Federal Agency Coupon - Callable Fair 1,000,000.00 2.125 1,003,980.00 06/30/2010 2.125 03/24/2015. 1,727 09/24/2010
Subtotal and Average 1,499,509.06 1,504,820.00 1.797 1,430 •
Federal Nat'l Mtg. Assoc.
3136FJS36 1376 Federal Agency Coupon - Callable Fair 1,000,000.00 3.000 1,001,880.00 06/30/2010. 2.654 07/29/2010 28
3136FJS69 1377 Federal Agency Coupon - Callable Fair • 1,500,000.00 3.000 1,503,285.00 06/30/2010 . 3.000 08/03/2010 33 08/03/2010
3136FJ2Y6' • • 1378 Federal Agency Coupon - Callable Fair 1,335,000.00 3,050 1,339,592.40 06/30/2010 3.050 08/18/2010 48 • 08/18/2010
3136FMEE0 1380 Federal Agency Coupon - Callable Fair 1,000,000.00 2.000 1,004,690.00 06/30/2010 2.000 03/24/2015 1,727 09/24/2010 •
3136FMNG5 1396 . Federal Agency Coupon - Callable • Fair 250,939.59 2.125 251,000.00 06/30/2010 2.133' 07/29/2013 1,124 10/29/2010
Subtotal and Average 5,085,939.59 . 5,100,447.40 2.706 - - 422
•
State of Washington L.G.I.P.
SYS1050 1050 Local Government Investment Pool Amort 27,829,119.03 0.301 27,829,119.03 09/30/2009 0.301 1
Portfolio BOND •
• AP
Run Date: 08/23/2010 -.1 • DI (P SymRepl 6.42
ort Ver. 5.00
•
City of Yakima o
Investme •
nts • by er Page 2
Sorted by Investment Number
Investment Current Market YTM Redemption Gall
CUSIP Investment # Security Type Class Book Value Rate Market Value Date 365 Date Date Collateral
Subtotal and Average 27,829,119.03 27,829,119.03 0.301 1 •
•
Total and Average 49,281,907.46 49,345,888.93 1.243 220
•
•
•
•
•
•
•
•
•
•
•
•
Portfolio BOND
•
AP
Run Date. 08/23/2010 -11:22 DI (PRF_DI) SymRept 6.42 • Report Ver. 5.00
fi i City of Yakima
`` City of Yakima Portfolio 129 North Second Street
f ►y 4 , ` Y WA 98901
(} ell A Report (509)576-6639 A 98901
i � 4� Sorted By Issuer •
� �' ° `- -{f=` April 1, 2010 - June 30, 2010
•
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or Ending
CUSIP Investment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals Balance
•
Issuer: Federal Farm Credit Bank '
Federal Agency Coupon - Callable
•
31331G4J5 1372 Federal Farm Credit Bank 2.300 04/28/2010 0.00 2,000,000.00 .
31331G4H9 1374 Federal Farm Credit Bank 1.820 04/28/2010. - 0.00 1,000,000.00
31331JDA8 1379 . Federal Farm Credit Bank 2.375 06/16/2010 0.00 ' 5,000,000.00
31331JMC4 1394 Federal Farm Credit Bank 2.000 05/10/2010 1,500,000.00 • 0.00
31331JPP2 1397 Federal Farm Credit Bank 2.000 06/04/2010 . 2,000,000.00 0.00
31331JQQ9 1398 Federal Farm Credit Bank 2.000 06/04/2010 1,125,000.00 0.00
Subtotal and Balance 9,000,000.00 4,625,000.00 8,000,000.00 5,625,000.00
Issuer Subtotal 11.412% 9,000,000.00 4,625,000.00 • 8,000,000.00 . 5,625,000.00
Issuer: Federal Home Loan Bank .
Federal Agency Coupon Securities
3133XV6Z9 1358 Federal Home Loan Bank 1.700 04/23/2010 0.00 1,500,000.00
Subtotal and Balance 1,500,000.00 • 0.00 1,500,000.00 0.00
Federal Agency Coupon - Callable
3133XUVE0 1370 Federal Home Loan Bank 1.590 04/19/2010 0.00 875,555.55
3133XVYZ8 1375 Federal Home Loan Bank 1.750 04/26/2010 0.00 352,941.18
3133XVYZ8 1375 Federal Home Loan Bank 06/10/2010 0.00 441,176.47
3133XX3K1 1383 Federal Home Loan Bank 2.000 06/04/2010 0.00 3,000,000.00
3133XXU21 1385 Federal Home Loan Bank 2.400 04/16/2010 1,250,000.00 0.00
•
3133XXGZ4 1390 Federal Home Loan Bank 2.750 04/19/2010 1,515,000.00 0.00
3133XXGZ4 1390 Federal Home Loan Bank 06/18/2010 0.00 1,515,000.00
3133XYDE2 1391 Federal Home Loan Bank 2.300 05/12/2010 1,500,000.00 0.00
3133XY2C8 1392 Federal Home Loan Bank 1.800 04/29/2010 1,000,000.00 0.00
3133XXZR1 1393 Federal Home Loan Bank 2.000 04/29/2010 2,000,000.00 0.00
3133XXU39 1395 Federal Home Loan Bank 2.800 04/19/2010 1,500,000.00 0.00
Subtotal and Balance 6,669,673.20 8,765,000.00 6,184,673.20 9,250,000.00
Issuer Subtotal 18.766% 8,169,673.20 8,765,000.00 7,684,673.20 9,250,000.00
•
Portfolio BOND
AP
Run Date:. 08/23/2010 - 1 - - DA, ymRept 6.42
.4. • ort Ver. 5 .00 .
0 City of Yakima
tY P o
Activity Re 0 Page 2
April 1 2010 -June 30, 2010 •
Par Value Par Value
Percent Beginning • Current. Transaction Purchases or Redemptions or Ending
CUSIP • Investment # Issuer of Portfolio Balance Rate Date Deposits Withdrawals . . Balance
Issuer: Federal Home Loan. Mortgage Co. •
Federal Agency Coupon- • Callable
3128X8VVY4 . 1366 Federal Home Loan Mortgage Co. 3.050 04/22/2010 0.00 1,000,000.00 .
3128X8YT3 1368 Federal Home Loan Mortgage Co. 3 -000 04/30/2010 . 0.00 1,000,000.00
3128X9TW0 1384 Federal Home Loan Mortgage Co. 2.500 ' 04/19/2010 0.00 3,650,000.00
•
Subtotal and Balance , 7,150,000.00 0.00 5,650,000.00 1,500,000.00
. Issuer Subtotal 3.043% 7,150,000.00 0.00 . 5,650,000.00 1,500,000.00
Issuer: Federal Nat'I Mtg. Assoc. .
Federal Agency Coupon - Callable
3136FMNG5 • 1396 • Federal Nat'I Mtg. Assoc. 2.125 05/18/201,0 251,000.00 0.00
Subtotal and Balance 4,835,000.00 251,000.00 0.00 - • 5,086,000.00
• Issuer Subtotal 10.318% 4,835,000.00 251,000.00 0.00 5,086,000.00
Issuer: State of Washington L.G.I.P. . . .
•
•
. Local Government Investment Pool
•
SYS1050 1050 State of Washington L.G.LP. 0.301 13,016,765.63 • 7,500,000.00
Subtotal and Balance 22,312,353.40 13,016,765.63 7,500,000.00 27,829,119.03
. Issuer Subtotal 56.460% 22,312,353.40 13,016,765.63 7,500,000.00 27,829,119.03
Total 100.000% 51,467,026.60 26,657,765.63 28,834,673.20 49,290,119.03
•
•
•
•
•
•
•
Portfolio BOND
•
AP
Run .Date: 08/23/2010 - 11:22 DA (PRF_DA) SymRept 6.42 .
• Report Ver. 5.00
•
CITY OFYAKIMA 410
REPORT OF CASH BALANCES
June 30, 2010
Key Bank 6,337,643.66
Bank of New York (Fiscal Agent) (1) 0.00
U.S. Bank (Housing loan repayments) 84,147.81
Yakima Federal Savings and Loan Association (Housing) 166,558.55
Bank of America (Claims Control) (2) 299,277.58
U. S. Bank (Payroll Control) 7,658.50
U. S. Bank (Card Processing) 402,295.14
Inmate Trust - Key Bank 10,975.28
Inmate Welfare - Key Bank 12,930.57
Municipal Court - Key Bank 120,323.51
Petty Cash (3) 3,475.00
Police - Special Investigations (3) 7,500.00
Change Funds (4) 3,780.00
Travel Advance 4,000.00
Total Cash On Hand and
In Bank Accounts 6/30/10 $7,460,565.60
1 Balance is zero as all coupons and principal has been paid to bond holders.
2 Represents balance less outstanding warrants.
3 Represents impressed amounts. Cash on hand plus receipts for paid items equals this amount
per Resolution R2008 -32
4 Change for customers established by Resolution R2008 -32
qtr cash bal /tab
0
III III
CITY OF YAKIMA
Schedule of General Obligation and Revenue Bond Activity
For the Period 04/01 /10 through 06/30/10
GENERAL OBLIGATION BONDS .
Original 3/31/10 Principal 06/30/10
Fund Date Issued Description Outstanding Final Payment Balance Redeemed Amount Issued Balance
272_ 2002 PFD Convention Center 1- unrefunded $ 1,280,000 06/01/12 $675,000 $215,000 $0 $460,000
283 6/17/2003 Series B Law and Justice - 1994 refunded $ 4,155,000 12/01/13 $1,910,000 $0 $0 $1,910,000
284 9/8/2004 Fire - 1995 Refunded $ 2,300,000 12/01/14 $1,330,000 $0 $0 $1,330,000
.281 12/1/2005 Parks and Recreation $ 755,000 02/01/15 $490,000 $0 $0 $490,000
281 5/8/2007 River Road / 16th Fruitvale A3 $ 1,765,000 05/01/17 $1,470,000 $155,000 $0 $1,315,000
272 8/28/09 Series A PFD Capital Theatre Expansion -tax exempt $ 2,055,000 12/01/18 $1,880,000 $0 $0 $1,880,000
287 9/1/2004 PFD Convention Center II - 1996 refunded $ . 4,175,000 11/01/19 $3,420,000 $0 $0 $3,420,000
281 8/28/2008 Infrastructure Projects $ 2,190,000 12/01/19 $1,980,000 $0 $0 $1,980,000
281 8/28/2008 Fire Truck $ .750,000 12/01/21 $705,000 $0 $0 $705,000
281 8/28/2008 Fire Station 92nd Facility Al $ 815,000 05/01/22 $735,000 $45,000 $0 $690,000
281 5/8/2007 Downtown Futures A2 $ 1,490,000 05/01/22 $1,340,000 $80,000 $0 $1,260,000
281 6/17/2003 Series A Sundome Expansion $ 1,430,528 12/01/23 $1,173,812 $0 . $0 $1,173,812
272 8/28/09 Series B PFD Capital Theatre Expansion - BABs, taxable $ 1,755,000 12/01/24 $1,755,000 $0 $0 $1,755,000
272 5/8/2007 PFD Convention Center III- A3 2002 Partial refunded $ 4,910,000 05/01/26 $4,890,000 $10,000 $0 $4,880,000
272 8/28/09 Series B PFD Capital Theatre Expansion - BABs, taxable $ 3,225,000 12/01/32 $3,225,000 $0 $0 $3,225,000
subtotal $ 33,050,528 $26,978,812 $505,000 $0 $26,473,812
REVENUE BONDS -
Original. 03/31/10 Principal • 06/30/10
Fund Date Issued Description Outstanding . Final Payment Balance Redeemed Amount Issued Balance
493 12/2/2003 Series A Wastewater $ . 7,390,000 11/01/14 $4,015,000 $0 $0 $4,015,000
484 6/5/2008 - Water/Wastewater - 1998 refunded $1,516,691.29 11/01/18 $1,510,000 $0 $0 $1,510,000
486 6/5/2008 Water- 1998 refunded $1,883,308.71 11/01/18 $1,875,000 $0 $0 $1,875,000
493 12/2/2003 Series B Wastewater $ 10,155,000 11/01/23 " $10,155,000 $0 , $0 $10,155,000
488. 6/5/2008 Wasterwater $ 5,440,000 11/01/27 $5;365,000 $0 $0 $5,365,000
491 9/2/2008 Irrigation $ 5,215,000 09/01/34 $4,695,000 $0 $0 $4,695,000
subtotal $ 31,600,000 $27,615,000 $0 $0 $27,615,000
Grand Total $ 64,650,528 $54,593,812 $505,000 $0$54,088,8121
•
LID CASH BALANCES . LID BONDS AND NOTES PAYABLE
As Of Quarter Ending June 30, 2010 As Of Quarter Ending June 30, 2010
LID Current LID Original LID Bond/Note Amount New LID LID Bond/Note Invested By
District District Bond Beginning Quarter Bonds/Notes Districts Ending Quarter
No. Cash Balance Assessment Balance Paid Added Balance
1055 - North 85th - 5,896.79 182,759.24 0.00 0.00 0.00 . 0.00 Equipment Rental
1056 - S 7th, 8th, 9th 17,671.40 218,481.02 89,000.00 0.00 0.00 89,000.00 Equipment Rental
1057 - N 84th & Hawthorne 7,938.13 179,550.01 82,500.00 0.00 0.00 82,500.00 Equipment Rental
1058 - N 95th, 94th Place 28,141.95 160,868.69 85,000.00 0.00 0.00 85,000.00 Equipment Rental
1060 - 85th and Kail 0.00 375,880.89 0.00 171,036.92 375,880.89 204,843.97 Equipment Rental
1061- Simpson Lane 100.00 497,727.90 420,819.00 0.00 0.00 420,819.00 Equipment Rental
Totals $47,954.69 $1,658,019.70 $677,319.00 $171,036.92 $375,880.89 $882,162.97
•
•
•
•
•
ERP 8/9/20 PM LID 2nd Quarter 2010.xls Page 1 of
0
LID BONDS / NOTES PAYABLE
vs.
LID GUARANTY FUND
AS OF QUARTER ENDING June 30th, 2010
Outstanding Bonds and Notes Payable (1) $882,162.97
x10%
10% of Outstanding Balance $88,216.30
Guaranty Fund #221 Balance $79,862.71
10% of Outstanding LID's Bonds and Notes Payable ($88,216.30)
Amount above (below) targeted minimum (2) ($8,353.59)
(1) This is an investment by the City's Equipment Rental Fund.
(2) The shortfall in the minimum guarantee balance will be satisfied overtime and
since there are no external investors who rely on this guarantee fund, this timing
difference is not significant.
•
ERP 9/2/2010 8:44 AM LID 2nd Quarter 2010.xls Page 1 of 1