HomeMy WebLinkAbout11/18/2008 11 3rd Quarter 2008 Treasury Report •
• BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. * 11
1
For Meeting Of 11 -18 -2008
ITEM TITLE: 3rd Quarter 2008 Treasury Report
SUBMITTED BY: Finance Department
CONTACT PERSON/TELEPHONE: Rita DeBord, Finance Director / 575 -60
Timothy Jensen, Treasury Services Officer / 575 -6070
SUMMARY EXPLANATION: 1 ) Imo
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
4110 • 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 in this report are of great
concern to investors, it should be noted that the City's resources are invested in high quality,
low -risk government sponsored instruments and, therefore, are not subject to all of the
economic risks noted below.
In a rare inter - meeting action on October 8th, the FOMC lowered the Federal Funds target rate
50 basis points, from 2% to 1.5 %, as part of a coordinated global effort to unfreeze the static
Continued...
Resolution Ordinance Other (Specify) Report
Contract Mail to (name and address):
Phone:
Funding Source
APPROVED FOR SUBM1T1'AL:
City Manager
STAFF RECOMMENDATION: Accept Report.
BOARD /COMMISSION RECOMMENDATION: N/A
COUNCIL ACTION:
•
credit markets. The Fed lowered the Funds rate another 50 basis points at their regularly •
scheduled meeting on October 29th from 1.5% to 1 %. Even after these aggressive actions, the
credit markets remain in turmoil. October was one of the worst months for both the stock and
bond markets since the great depression. In spite of the sharp reductions in the target Fed
Funds rate, credit markets remain frozen and spreads to Treasury bills and bonds remain wide
as banks and other credit market investors demand more reward for investment because there
is no confidence in the ability of individuals, corporations or state and local governments to
repay borrowings. Individuals are viewed as risky because of rising unemployment and
stagnant wage and high personal debt pressures; corporations and banks are perceived risky
because of their investment portfolios and possible sub -prime loans, credit default swaps and
other-"toxic waste" that may be in them, and state and local governments are believed to be
more risky due to slowing consumer activity and the effect that may have on tax revenue.
Fundamental and technical indicators for the US economy are as dismal as they have been in a
generation:
• First -time claims for unemployment benefits have been in the 500,000 per week
range for several weeks, with net job loses running approximately '2 million thus far
in 2008. This is a good leading indicator of coming increases in the unemployment
rate which many economists predict could reach 8% in 2009.
• The University of Michigan Consumer Confidence index came in at 35 for
September. This is the lowest in three decades. Below 50 is considered
recessionary. •
• Retail sales fell .3% in August, .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 the year, indicating a slowing of production nationwide.
• Housing starts and permits continue to decline as the contraction in housing
continues.
• ISM manufacturing and non - manufacturing indices are the lowest in 8 years.
• 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 $60 a barrel and most other commodities,
except gold, continue to fall. However, year- over -year inflation was 4.94% for
September, based on the US National CPI -U index.
• Preliminary GDP estimates for the third quarter indicated real GDP contracted at an
annualized rate of .3 %. GDP for the fourth quarter and throughout much of 2009 is
expected to be negative.
• o
Third quarter disposable personal income shrank 8.7% in the third quarter as
unemployment grew and wages paid stagnated.
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• Durable goods orders fell 4.5% in September taking the year- over -year rate of
growth to -8.1%.
What these facts and statistics mean is that the nation's economy is slowing into, or
already is in a 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 Federal Troubled Asset Relief Program (TARP) legislation, but this is proving to be a
slow process, so far yielding no real results.
What all this means is that an investor will experience lower interest income and greater
risks in their investments due to current economic conditions.
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 9/30/2008 was 3.62 %, with a
• current yield to maturity of 2.921 %. Approximately 60% of the City's $55 million portfolio was
in overnight securities at September 30th, with more than half of that liquidity . re uired to
g P q
support expenditures on current projects and meet year end obligations. The average life of
the total portfolio on September 30th was 247 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.
Other Developments:
The City issued $2.95 million in Limited Tax General Obligation bonds on August 28th at a
0 total interest cost of 3.8 %, including legal, underwriting and insurance costs. The bonds were
issued to finance a portion of the cost of a fire ladder truck, pay the costs of a grind and
overlay of a portion of Nob Hill Blvd. and various signalization and crosswalk projects.
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Description of Treasurer's Reports
•
p p
• 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.
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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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•
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I` 7.----"=-- •
� � , '� r . City akima
( ,4". ° ' ,� ' City of Yakima Portfolio 129 North Second Street
I Yakima, WA 98901
r ,� _�: :,' Portfolio Management
,. °''' »s (509)576 -6639
•
, E , - Portfolio Summary
" °' -'9 "9 0 " September 30, 2008
Investments Par Market ' Book . % of Days to YTM
Value Value. Value Portfolio Term Maturity
Local Govemment Investment Pool 40,175,931.95 40,175,931.95 40,175,931.95 65.92 1 1 2.387
Federal Agency Coupon Securities 2,000,000.00 2,010,310.00 2,000,123.56 3.28 544 232 3.875
Federal Agency Coupon - Callable 17,750,000.00 17,747,425.00 17,750,000.00 29.12 1,016 807 4.020
Municipal Bonds 1,020,000.00 1,022,126.80 1,018,621.04 1.67 688 216 2.941
60,945,931.95 60,955,793.75 60,944,676.55 100.00% 326 247 2.921
Investments
•
•
Total Earnings September 30 Month Ending Fiscal Year To Date
Current Year 143,999.24 1,488,385.63
Average Daily Balance 58,403,840.25 54,709,480.26
Effective Rate of Return 3.00% 3.62%
Note: This worksheet identifies all'city investments in the General Ledger except LID Notes of $370,700 , LID warrants of $62,701.13, a pass through note having a balance of $18,814 and a savings
account of $20,000.
/ / —_6
Tim Jensen, Treasury Services Office
•
•
Reporting period 09/0112008- 09130/2008 Portfolio BOND
AP
Run Date: 11/06/2008 - 12:03 PM (PRF_PM1) SymRept 6.42
Report Ver. 5.00
'iF';y
` �. n r 1 City of Yakima
t a*; } ° } A ` y l City of Yakima Portfolio 129 North Second Street
.4' ,� 143,; inventory by Maturity Report Yakima, WA 98901
``�� ,s ` ^` iyi (509)576 -6639
% ; =r.��„,, ..u e : : , September 30, 2008
Sec. Purchase Book Current Maturity Maturity Total Par YTM Days to
- ....-._ --
CUSIP Investment # Fund Type Issuer Date Value Rate Date Amount Days Value 360 365 Maturity
0591855B0 1310 513 MUN bALTIMORE UTGO 11/15/2007 520,402.61 6.500 10/15/2008 536,900.00 335 520,000.00 0.927 0.940 14
31359ME7 1265 896 MC1 Federal Nat'I Mtg. Assoc. 01/23/2006 500,000.00 5.000 01/23/2009 500,000.00 1,096 500,000.00 4.932 5.000 114
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. 2.520 209
3133XFLG9 1292 896 FAC Federal Home Loan Bank 06/21/2007 1,000,123.56 5.250 06/12/2009 1,000,000.00 722 1,000,000.00 5.159 5.230 254
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 3.000 328
31398AHQ8 1304 896 MC1 Federal Nat'I Mtg. Assoc. 10/22/2007 1,000,000.00 4.710 10/22/2009 1,000,000.00 731 1,000,000.00 4.645 , 4.710 386
378892PY . 1282 125 MUN UTGO's 01/09/2007 498,218.43 4.700 12/01/2009 500,000.00 1,057 500,000.00 4.963 5.032 426
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 3.050 574
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 3.150 581
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 3.700 660
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 3.700 660
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 3.700 660
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 3.375 688
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 3.100 693
31398AJK9 1307 896 MC1 Federal Nat'l Mtg. Assoc. 11/05/2007 • 1,000,000.00 4.750 11/05/2010 1,000,000.00 1,096 1,000,000.00 4.685 4.750 765
3136F9ZU0 1328 896 MC1 Federal Nat'I 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 4.000 870
31331GAD1 1330 896 MC1 Federal Farm Credit Bank 08/28/2008 1,000,000.00. 3.950 02/28/2011 1,000,000.00 914 1,000,000.00 3.896 3.950 880
31398AQS4 1320 896 MC1 Federal Nat'I 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 3.500 939
3133XHFM 1278 896 MC1 Federal Home Loan Bank 10/17/2006 1,000,000.00 5.300 10/17/2011 1,000,000.00 1,826 1,000,000.00 5.227 5.300 1,111
3133XMQN4 1306 896 MC1 Federal Home Loan Bank 11/07/2007 1,000,000.00 5.000 11/07/2011 1,000,000.00 1,461 1,000,000.00 4.932 • 5.000 1,132
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 1,434
3128X6MQ6 1303 896 MC1 Federal Home Loan 10/01/2007 1,000,000.00 5.250 10/01/2012 1,000,000.00 1,827 1,000,000.00 5.178 5.250 1,461
Subtotal and Average 20,768,744.60 20,786,900.00 20,770,000.00 3.899 3.953 722
Net Maturities and Average 20,768,744.60 20,786,900.00 20,770,000.00 3:899 3.953 722
•
Portfolio BOND
AP
Run Date: 11/07/2008 IM (PemRept 6.42
• rt Ver. 5.00j
/t y i t ' -- - • -- - - of Yakima
►-� City of Yakima Portfolio ( 129 North second street •r 11 ' ' Inve nto b Maturi Re ort Call Date Yakima, WA 98901
i'k : i Inventory by tY ReportBy
2 September 30, 2008 (509)576 -6639
•
Sec. Purchase Book Current Maturity/Call , . YTM/YTC
ty Maturity Total Par C Days to
CUSIP Investment # Fund Type Issuer Date Value Rate Date Amount Days Value 360 365 Mat. /Call
3128X6MQ6 1303 896 MC1 Federal Home Loan 10/01/2007 1,000,000.00 5.250 10/01/2008C 1,026,250.00 366 1,000,000.00 5.178 5.250 0
0591855B0 1310 513 MUN bALTIMORE UTGO 11/15/2007 520,402.61 8.500 10/15/2008 536,900.00 335 520,000.00 0.927 0.940 • 14
- 3133XHFM 1278 896 MC1 Federal Home Loan Bank 10/17/2006 1,000,000.00 5.300 10/17/20080 1,026,500.00 731 1,000,000.00 5.227 5.300 16
31398AHQ8 1304 896 MC1 Federal Nat'I Mtg. Assoc. 10/22/2007 1,000,000.00 4.710 10/22/2008C 1,023,550.00 366 1,000,000.00 4.645 4.710 21
31398AJK9 1307 896 MC1 Federal Nat'I Mtg. Assoc. 11/05/2007 1,000,000.00 4.750 11/05/2008C 1,023,750.00 366 1,000,000.00 4.685 4.750 35
3133XMQN4 1306 896 MC1 Federal Home Loan Bank 11/07/2007 . 1,000,000.00 5.000 11/07/20080 1,025,000.00 366 1,000,000.00 4.932 5.000 37
31331GAD1 1330 896 MC1 Federal Farm Credit Bank 08/28/2008 1,000,000.00 3.950 11/28/2008C 1,000,000.00 92 1,000,000.00 3.896 3.950 58
31331GAL3 1331 896 MC1 Federal Farm Credit Bank 09/04/2008 1,000,000.00 4.500 12/04/2008C 1,000,000.00 91 1,000,000.00 4.438 4.500 64
31359ME7 1265 896 MC1 Federal Nat'I Mtg. Assoc. 01/23/2006 500,000.00 5.000 01/23/2009 500,000.00 1,096 500,000.00 4.932 5.000 114
3133XRSP6 1325 896 MC1 Federal Home Loan Bank 07/23/2008 1,000,000.00 3.700 .01/23/2009C 1,000,000.00 184 1,000,000.00 3.649 3.700 114
3133XRSP6 1326 515 MC1 Federal Home Loan Bank 07/23/2008 1,000,000.00 3.700 01/23/2009C 1,000,000.00 184 1,000,000.00 3.649 3.700 114
3133XRSP6 1327 551 MC1 Federal Home Loan Bank 07/23/2008 1,000,000.00. 3.700 01/23/2009C 1,000,000.00 184 1,000,000.00 3.649 3.700 114
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 3.050 119
3136F9ZU0 1328 896 MC1 Federal Nati Mtg. Assoc. 08/18/2008 1;000,000.00 4.000 02/18/2009C 1,000,000.00 184 1,000,000.00 3.945 4.000 140
3133XS2V9 1329 896 MC1 Federal Home Loan Bank 08/21/2008 2,000,000.00 3.375 02/20/2009C 2,000,000.00 183 2,000,000.00 3.328 3.375 142
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 3.500 209
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 2.520 209
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 5.150 216
3133XFLG9 1292 896 FAC Federal Home Loan Bank 06/21/2007 1,000,123.56 5.250 06/12/2009 1,000,000.00 722 1,000,000.00 5.159 5.230 254
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 3.000 328
378892PY 1282 125 MUN UTGO's 01/09/2007 498,218.43 4.700 12/01/2009 500,000.00 1,057 500,000.00 4.963 5.032 426
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 3.100 693
Subtotal and Average ' 20,768,744.60 20,911,950.00 20,770,000.00 3.994 4.050 147
Net Maturities and Average 20,768,744.60 20,911,950.00 20,770,000.00 3.994 4.050 147
•
Portfolio BOND
AP
Run Date: 11/07/2008 - 08:43 IM (PRF_IM) SymRept 6.42
Report Ver. 5.00j
1
� / / / / /�: ; .,�:� .. + - City of Yakima
t , !-t CC 0 , � ` li C ity of Yakima Portfolio 1 29 North Second Street
1''e i �' ,;� Yakima, WA 98901
*_ ; Sales /Call Report
,• �� �. (509)576 =6639
``• _ : Sorted by M aturity Date - Fund
'� July 1, 2008 - September 30, 2008
Issuer Purchasgedem. 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
08/25/2009
3133XPW75 1319 896 FHLB 02/25/2008 08/25/2008 750,000.00 3.000 750,000.00 750,000.00 15,000.00 765,000.00 15,000.00
MC1 .08/25/2009 Call
Subtotal 750,000.00 750,000.00 750,000.00 15,000.00 765,000.00 15,000.00
11/05/2009
3133XMTS0 1308 896 FHLB 11/05/2007 08/05/2008 1,000,000.00 4.500 1,000,000.00 1,000,000.00 11,250.00 1,011,250.00 11,250.00
MC1 11/05/2009 Call
Subtotal 1,000,000.00 1,000,000.00 1,000,000.00 11,250.00 1,011,250.00 11,250.00
01/22/2010
31359M4L4 1295 551 FNMA 07/27/2007 07/22/2008 1,000,000.00 5.250 999,396.65 1,000,000.00 26,250.00 1,026,250.00 26,853.35
MC1 01/22/2010 Call
Subtotal 1,000,000.00 999,396.65 1,000,000.00 26,250.00 1,026,250.00 26,853.35
01/29/2010
31359M4W0 1289 514 FNMA 06/04/2007 07/29/2008 1,000,000.00 5.330 999,264.92 1,000,000.00 26,650.00 1,026,650.00 27,385.08
MC1 01/29/2010 Sale
Subtotal 1,000,000.00 999,264.92 1,000,000.00 26,650.00 1,026,650.00 27,385.08
09/10/2010
3133XMAY7 1305 896 FHLB 10/04/2007 09/10/2008 1,000,000.00 5.200 1,002,683.31 1,000,000.00 26,000.00 1,026,000.00 23,316.69
MC1 09/10/2010 Call
Subtotal 1,000,000.00 1,002,683.31 1,000,000.00 26,000.00 1,026,000.00 23,316.69
09/17/2010
3133XNME6 1314 896 FHLB 12/17/2007 09/17/2008 1,000,000.00 4.250 1,000,000.00 1,000,000.00 10,625.00 1,010,625.00 10,625.00
MC1 09/17/2010 Call
Subtotal 1,000,000.00 1,000,000.00 1,000,000.00 10,625.00 1,010,625.00 10,625.00
01/18/2011
31331YNL0 1316 896 FFCB 01/18/2008 09/02/2008 1,000,000.00 4.200 1,000,000.00 1,000,000.00 5,133.33 1,005,133.33 5,133.33
MC1 01/18/2011 Call
Subtotal 1,000,000.00 1,000,000.00 1,000,000.00 5,133.33 1,005,133.33 5,133.33
09/15/2011
Portfolio BOND
Run Date: 11/06/2008 1 S A (PRF ept 6.4
III Ver. 5.00
'/3
• City of Yakima 10 •
Sales /Call Re Page 2
July 1, 2008 - September 30, 2008
Issuer Purchasgedem. 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
09/15/2011
3136F7Z8 1276 515 FNMA 09/15/2006 09/15/2008 500,000.00 5.400 500,000.00 500,000.00 13,500.00 513,500.00 13,500.00
MC1 09/15/2011 Call
3136F7Z8 1275 610 FNMA ' 09/15/2006 09/15/2008 500,000.00 5.400 500,000.00 500,000.00 13,500.00 513,500.00 13,500.00
MC1 , 09/15/2011 Call
Subtotal - 1,000,000.00 1,000,000.00 1,000,000.00 27,000.00 1,027,000.00 27,000.00
09/22/2011
3133XGWP 1277 896 FHLB 09/22/2006 09/22/2008 1,000,000.00 5.430 1,000,000.00 1,000,000.00 27,150.00 1,027,150.00 27,150.00
MC1 09/22/2011 Call
Subtotal 1,000,000.00 1,000,000.00 1,000,000.00 27,150.00 1,027,150.00 27,150.00
Managed Pool Withdrawals Withdrawal Withdrawal Current Withdrawal Withdrawal
Date Amount Rate Amount Amount
SYS1050 1050 896 STOFWA, 01/01/2008 07/03/2008 2,250,000.00 2.389 . 2,250,000.00 2,250,000.00
SYS1050 1050 896 STOFWA 01/01/2008 07/07/2008 2,400,000:00 2.389 2,400,000.00 2,400,000.00
SYS1050 1050 896 STOFWA 01/01/2008 07/08/2008 750,000.00 2.389 750,000.00 750,000.00
SYS1050 1050 896 STOFWA 01/01/2008 07/09/2008 211,207.18 2.389 211,207.18 211,207.18
SYS1050 1050 896 STOFWA 01/01/2008 07/09/2008 900,000.00 2.389 900,000.00 900,000.00
SYS1050 1050 896 STOFWA 01/01/2008 07/21/2008 100,000.00 2.389 100,000.00 100,000.00
SYS1050 1050 896 STOFWA 01/01/2008 07/23/2008 2,500,000.00 2.389 2,500,000.00 2,500,000.00
SYS1050 1050 896 STOFWA 01/01/2008 07/25/2008 200,000.00 2.389 200,000.00 200,000.00
SYS1050 1050 896 STOFWA 01/01/2008 07/30/2008 . 300,000.00 2.389 300,000.00 300,000.00
SYS1050 1050 896 STOFWA 01/01/2008 08/06/2008 2,900,000.00 2.389 2,900,000.00 2,900,000.00
SYS1050 1050 896 STOFWA 01/01/2008 08/07/2008 100,000.00 2.389 100,000.00 100,000.00
SYS1050 1050 896 STOFWA 01/01/2008 08/08/2008 400,000.00 2.389 400,000.00 400,000.00
SYS1050 1050 896 STOFWA 01/01/2008 08/12/2008 600,000.00 2.389 600,000.00 600,000.00
SYS1050 .1050 896 STOFWA 01/01/2008 08/18/2008 800,000.00 2.389 800,000.00 800,000.00
SYS1050 1050 896 STOFWA 01/01/2008 08/20/2008 100,000.00 2.389 100,000.00 100,000.00
SYS1050 1050 896 STOFWA 01/01/2008 08/21/2008 2,150,000.00 2.389 2,150,000.00 2,150,000.00
SYS1050 1050 896 STOFWA 01/01/2008 08/28/2008 2,946,302.68 2.389 2,946,302.68 2,946,302.68
•
SYS1050 1050 896 STOFWA 01/01/2008 09/03/2008 300,000.00 2.389 300,000.00 300,000.00
SYS1050 1050 896 STOFWA 01/01/2008 09/04/2008 1,800,000.00 2.389 1,800,000.00 1,800,000.00
SYS1050 1050 896 STOFWA 01/01/2008 09/05/2008 900,000.00 2.389 900,000.00 900,000.00
SYS1050 1050 896 STOFWA 01/01/2008 09/08/2008 2,400,000.00 2.389 2,400,000.00 2,400,000.00
SYS1050 1050 896 STOFWA 01/01/2008 09/09/2008 600,000.00 2.389 600,000.00 600,000.00
•
Portfolio BOND
AP
Run Date: 11/06/2008 - 12:18 SA (PRF_SA) SymRept 6.42
6 Report Ver. 5.00
•
City of Yakima Portfolio
Sales /Call Report Page 3
July 1, 2008 - September 30, 2008
Issuer Purchasgedem. 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 09/18/2008 250,000.00 2.389 250,000.00 250,000.00
SYS1050 1050 896 STOFWA 01/01/2008 09/24/2008 250,000.00 2.389 250,000.00 250,000.00
SYS1050 1050 896 STOFWA 01/01/2008 09/29/2008 600,000.00 2.389 600,000.00 600,000.00
Subtotal 26,707,509.86 26,707,509.86 . 26,707,509.86
Total Sales and Withdrawals 35,457,509.86 8,751,344.88 35,457,509.86 175,058.33 35,632,568.19 173,713.45
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Portfolio BOND
. AP
Run Date: 11/06/2008 -140
4111 SA (PRF ePt 5.00
373 .
1 '
,67; '�,�' 1 y of Yakima
•
p F ,° '1,114,1 V , City of Yakima Portfolio 129 North Second Street
hF � Yakima, WA 98901
Ma turity Report
� `W 3 / (509)576 -6639
�,-. ., i Sorted by Maturity Date
! sersc° � / Received or due during July 1, 2008 - September 30, 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
3133XJUA4 1290 896 FAC FHLB 1,000,000.00 08/14/2008 06/06/2007 5.250 1,000,000.00 26,250.00 1,026,250.00 26,250.00
3133XJUA4 1293 896 FAC FHLB 1,000,000.00 08/14/2008 06/21/2007 5.250 1,000,000.00 26,250.00 1,026,250.00 26,250.00
3133MGVB9 1313 473 FAC FHLB 550,000.00 08/15/2008 12/14/2007 5.500 550,000.00 15,125.00 565,125.00 15,125.00
31359M5T6 1298 141 FAC FNMA 500,000100 09/02/2008 . 09/06/2007 5.125 500,000.00 • 12,812.50 512,812.50 12,812.50
Total Maturities 3,050,000.00 3,050,000.00 80,437.50 3,130,437.50 80,437.50
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, Portfolio BOND
AP
Run Date: 11/06/2008 -12:19 MA (PRF_MA) SymRept 6.42
Report Ver. 5.00
•
744,42L 1 ` t ?> City of Yakima
� `•�rd t
� r.t 1,:t n t r r City of Yakima Portfolio 129 North Second Street
� Yakima, WA 98901
� �. Purchases Report
\; . 1��� +. s ', (509)576 -6639
o x a� "�' Sorted by Fund - Fund
�`" July 1, 2008 - September 30, 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
Risk Management -
3133XRSP6 1326 515 MC1 FHLB 1,000,000.00 07/23/2008 01/23 - 07/23 1,000,000.00 3.700 07/23/2010 3.700 1,000,000.00
Subtotal 1,000,000.00 1,000,000.00 0.00 1,000,000.00
Equipment Rental
3133XRSP6 1327 551 MC1 FHLB 1,000,000.00 07/23/2008 01/23 - 07/23 1,000,000.00 3.700 07/23/2010 3.700 1,000,000.00
Subtotal 1,000,000.00 1,000,000.00 0.00 1,000,000.00
Treasurer's Surplus Cash
3133XRSP6 1325 896 MC1 FHLB 1,000,000.00 07/23/2008 01/23 - 07/23 1,000,000.00 3.700 07/23/2010 3.700 1,000,000.00
3136F9ZU0 1328 896 MC1 FNMA 1,000,000.00 08/18/2008 02/18 - 08/18 1,000,000.00 4.000 02/18/2011 4.000 1,000,000.00
3133XS2V9 1329 896 MC1 FHLB 2,000,000.00 08/21/2008 02/20 - 08/20 2,000,000.00 187.50 3.375 08/20/2010 3.375 2,000,000.00
31331GAD1 1330 896 MC1 FFCB 1,000,000.00 08/28/200802/28 -08/28 1,000,000.00 3.950 02/28/2011 3.950 1,000,000.00
SYS1336 1336 896 LA1 LGIP 2,946,302.68 08/28/2008 08/31 - Monthly 2,946,302.68 2.333 2.333 2,952,934.07
31331GAL3 1331 896 MC1 FFCB 1,000,000.00 09/04/200803/04 - 09/04 1,000,000.00 4.500 09/04/2012 4.500 1,000,000.00
Subtotal 8,946,302.68 8,946,302.68 187.50 8,952,934.07
Managed Pool Deposits Deposit Deposit Deposit
Amount Date Amount Rate
SYS1263 1263 896 LA1 LGIP 211,207.18 07/09/2008 211,207.18 4.561
SYS1050 1050 896 LA1 STOFWA 300,000.00 07/01/2008 300,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 600,000.00 07/02/2008 600,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 150,000.00 07/14/2008 150,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 1,900,000.00 07/15/2008 1,900,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 150,000.00 07/18/2008 150,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 900,000.00 07/22/2008 900,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 1,000,000.00 07/29/2008 1,000,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 2,600,000.00 07/31/2008 2,600,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 200,000.00 08/04/2008 200,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 1,200,000.00 08/05/2008 1,200,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 1,600,000.00 08/14/2008 1,600,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 700,000.00 08/15/2008 700,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 200,000.00 08/25/2008 200,000.00 4.561
Portfolio BOND
AP
0 ,
Run Date: 11/06/2008
110 PU (PmRept 6.42
rt Ver. 5.00
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• City of Yakim Iio •
• Purchases Report Page 2
July 1, 2008 - September 30, 2008
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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
Amount Date Amount Rate
SYS1050 1050 896 LA1 STOFWA 750,000.00 08/27/2008 . 750,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 2,300,000.00 08/28/2008 2,300,000.00 4.581
SYS1050 1050 896 LA1 STOFWA 2,400,000.00 08/29/2008 2,400,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 700,000.00 09/02/2008 700,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 800,000.00 09/10/2008 800,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 100,000.00 09/11/2008 100,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 1,300,000.00 09/15/2008 1,300,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 200,000.00 09/16/2008 200,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 1,000,000.00 09/17/2008 1,000,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 1,500,000.00 09/22/2008 1,500,000.00 4.561
SYS1050 1050 896 LA1 STOFWA 3,900,000.00 09/30/2008 3,900,000.00 4.561
Subtotal 26,661,207.18 26,661,207:18
• Total Purchases and Deposits 37,607,509.86 37,607,509.86 187.50
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• 10,952,934.07
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Portfolio BOND
AP
Run Date: 11/06/2008 -12:20 PU (PRF_PU) SymRept 6.42
Report Ver. 5.00
CITY OF YAKIMA •
SCHEDULE OF GENERAL OBLIGATION
AND REVENUE BOND ACTIVITY
For the Period 7/1/2008 through 9/30/2008
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 0 0 630,000
281 FIRE/DOWNTOWN/RIVER ROAD 3,810,000 0 0 . 3,810,000
283 LAW & JUSTICE/I -82 Refunded 2,800,000 0 0 2,800,000
284 FIRE Refunded 1,780,000 0 0 1,780,000
285 G. 0. LINE OF CREDIT 0 0 0 0
287 CONVENTION CENTER Refunded 4,000,000 0 0 4,000,000
000 SUNDOME EXPANSION 1,362,913 0 0 1,362,913
281 2008 LTGO Infrastructure and Fire truck 2,950,000 2,950,000
SUB -TOTAL 20,167,913 0 2,950,000 23,117,913
REVENUE BONDS •
WATER/WASTEWATER Refunded 3400000 0 3,400,000
484 WATER/SEWER Refunded 460,000 460,000 0
486 WATER 150,000 150,000 0
488 SEWER Refunded 350,000 0 350,000
491 IRRIGATION 4,910,000 105,000 4,805,000
493 SEWER 14,855,000 0 14,855,000
WASTEWATER IMPROVEMENTS 5,440,000 0 5,440,000
SUB -TOTAL 29,565,000 715,000 0 28,850,000
GRAND TOTAL $49,732,913 $715,000 $2,950,000 $51,967,913
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. III •
III
LID CASH BALANCES LID BONDS AND NOTES PAYABLE
As Of Quarter Ending September 30,2008 As Of Quarter Ending September 30,2008
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 14,136.40 182,759.24 9,000.00 0.00 0.00 9,000.00 Equipment Rental
1056 8,621.19 218,481.02 140,900.00 0.00 0.00 140,900.00 Equipment Rental
1057 9,444.33 179,550.01 105,600.00 0.00 0.00 105,600.00 Equipment Rental
1058 20,920.51 160,868.69 115,200.00 0.00 0.00 115,200.00 Equipment Rental
Totals $53,122.43 $784,410.91 $370,700.00 $0.00 $0.00 $370,700.00
Payments are typically made at the end of the year
City of Yakima
•
LID WARRANTS PAYABLE
AS OF QUARTER ENDING SEPTEMBER 30, 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 0.00 0.00 32,767.77
85th and Kale
21101.061 24,524.80 0.00 0.00 24,524.80
Simpson Lane
Total Warrants Payable $62,701.13 $0.00 $0.00 $62,701.13 •
(1) Costs to LID in progress for which final assessment has not been confirmed.
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City of Yakima
LID BONDS / NOTES PAYABLE
vs.
LID GUARANTY FUND
AS OF QUARTER ENDING SEPTEMBER 30, 2008
Outstanding Bonds and Notes Payable $370,700.00
10% of Outstanding Balance $37,070.00
Guaranty Fund -221 $79,526.08
10% of Outstanding LID's Bonds and Notes Payable ($37,070.00)
• Amount above (below) statutory minimum $42,456.08
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CITY OF YAKIMA •
WARRANT ACTIVITY
PAYROLL FUND
(For the Period July 1, 2008 to September 30, 2008)
Outstanding Warrants 06/30/08 $220.31
July Warrants:
Issued $3,359,268.47
Canceled ($2,251.28)
Redeemed ($3,354,205.59)
Net Activity 2,811.60
Outstanding Warrants 07/31/08 $3,031.91
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August Warrants:
Issued $2,812,195.70
Canceled 0.00
Redeemed (2,812,844.04)
Net Activity (648.34)
Outstanding Warrants 08/31/08 1 $2,383.57
September Warrants:
Issued $2,734,455.69
Canceled 0.00
Redeemed (2,735,861.05)
Net Activity (1,405.36)
Outstanding Warrants 09/30/08 $978.21
110
payroll warrants /tab
• CITY OF YAKIMA
WARRANT ACTIVITY
CLAIMS ACCOUNTS PAYABLE FUND
(For the Period July 1, 2008 to September 30, 2008)
Outstanding Warrants 06/30/08 $789,954.27
July Warrants:
issued $7,060,397.45
Canceled (3,055.22)
Redeemed (6,209,031.79)
Net Activity 848,310.44
Outstanding Warrants 07/31/08 I $1,638,264.71
111
August Warrants:
Issued $4,251,246.00
Canceled (6,341.15)
Redeemed (4,156,806.79)
Net Activity 88,098.06
Outstanding Warrants 0 8/31/08 726
g 1 362.77 I $� ,
September Warrants:
Issued $4,297,755.80
Canceled (8,969.03)
Redeemed (5,640,364.42)
Net Activity (1,351,577.65)
Outstanding Warrants 09/30/08 I $374,785.12
11111
claims warrants /tab`
CITY OF YAKIMA •
REPORT OF CASH BALANCES
September 30, 2008
Key Bank 382,454.05
Bank of New York (Fiscal Agent)(1) 0.00
U.S. Bank (Housing loan repayments) 375,209.60
Bank of America (Housing Rehab) 63,535.16
Yakima Federal Savings and Loan Association (Housing) 160,925.35
Bank of America (Claims Control) 235,044.19
U. S. Bank (Payroll Control) 4,077.20
Inmate Trust - Key Bank 14,424.53
Inmate Welfare - Key Bank 8,283:36
Municipal Court - Key Bank 181,565.41
Petty Cash (2) 3,475.00
Police - Special Investigations(2) 7,500.00
Change Funds (3) 3,780.00
Travel Advance
Total Cash On Hand and
In Bank Accounts 9/30/08 $1,440,273.85
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
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qtr cash baUtab