HomeMy WebLinkAbout05/18/2010 14 1st Quarter 2010 Treasury Report III BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No.
• For Meeting of 05 -18 -10
ITEM TITLE: City of Yakima -1St Quarter 2010 Treasury Report
SUBMITTED BY: Finance Department
CONTACT PERSON/TELEPHONE: Rita DeBord, Finance Director / 575 -6070
Jon Lorberau, Treasury Services Officer / 575 -6024
SUMMARY EXPLANATION:
The Treasury Report for the first 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
0 • Report of Cash Balances as of March 31, 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
The US economy has taken a few tentative steps towards recovery. 1s Quarter corporate
earnings were mostly positive to expected income and nonfarm payroll employment has
added 573,000 jobs in 2010, mostly in March and April. Offsetting these positives is a
continuing high housing and credit card delinquencies and a lack of bank lending. Also, out
of 702 banks on their troubled list, the FDIC has closed a record 68 banks between January 1St
and May 7th
Resolution Ordinance Other (Specify) Report
Contract Mail to (name and address):
Phone:
Funding Source
APPROVED FOR SUBMITTAL: t-
City Manager
III STAFF RECOMMENDATION: Accept Report.
BOARD/ COMMISSION RECOMMENDATION: N/A
COUNCIL ACTION:
411)
State and local government entities continue to struggle to adjust for shortfalls in revenues and
pension plans. Several public entities are seriously considering bankruptcy and almost all
public entities are enacting combinations of furloughs, lay -offs, and/or asset sales.
Additionally, concerns on sovereign -debt levels came to head in the first week of May and
caused a brief and historic 1,000 point loss in the US Dow Jones stocks. After the Greek
government's two year debt soared to over an 18% yield, the International Monetary Fund and
European Union joined together to establish a 750 billion euro loan package in order to re-
establish confidence. China remains an area of concern and has twice increased their bank
reserve requirements in hopes to lessen bank over- lending and unsustainable real estate price
appreciation.
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 the City of Yakima's
Investment Policy, as revised 3/24/09.
The Bond Market
The yield curve moved higher across maturities at the end of the first Quarter: Two year US
Treasury notes have moved up from their .80% to .95% yield range into a more volatile .80% to
1.15% range. While the Federal Open Market Committee ( "FOMC ") continues to state that
they will hold rates low for an "extended period," yields have moved up in response an
increased market expectation of a late 2010 rate increase.
Higher market yields will benefit the City but slowly over time. As the City's existing
investments mature or are called, funds can be re- invested into higher yielding securities.
Snapshot of the Portfolio - 03/31/10
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.
The effective yield on the City's entire Investment Portfolio on 3/31/10 was 1.48 %, up from
1.40% on 12/31/2009 and 1.23% on 9/30/09.
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The Liquidity Portfolio is invested predominately with the State of Washington Investment
411)
Pool and was 43% of the total portfolio as of 03/31/10. The yield has fallen each month since
October of 2008 to its current yield level of .22% for March 2010, down from .33% on December
31, 2009.
The Security Portfolio (57 %) yields an average 2.44% up from 2.35% on December 31, 2009, and
is comprised of securities that are held with a third party custodian. It is predominately US
Government Agency callable securities, along with a legacy $10,000 investment in a FNMA
Mortgage Backed Security ( "MBS ").
Investment Composition Strategy
The City looks to maintain an Investment Portfolio with a Liquidity Portfolio of approximately
45% of total funds to insure 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 Security Portfolio uses predominately callable US government agency securities as the
primary investment security. Callable agency securities serve three purposes:
(1) The City earns a higher coupon (yield) than it would have earned from a non - callable
0 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.
The City does not invest in any Structured Investment Vehicles (SIV's), Collaterized Mortgage
Obligations (CMO's), or Collateralized Debt Obligations (CDO's). These types of investments, along certain asset - backed Commercial Paper have much higher price and demand volatility. The City
has not purchased these types of instruments.
1111 i
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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.
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0 of Yakima
• �_ r'" M Ci ty of Yakima Portfolio 129 North Second Street
` '� " Summary by Type •
p Yakima, WA 98901
� * lo r� b w ( 509)576 -6639
. iiiiii. March 31, 2010
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Number of Par % of Average Average Days •
Security Type Investments '. Value Book Value Portfolio
YTM 365 to Maturity
. Local Government Investment Pool 1 22,312,353.40 22,312,353.40 43.35 0.224 1
Federal Agency Coupon Securities 1 1,500,000.00 . 1,500,000.00 . 2.91 1.700 753 - . •
Federal Agency Coupon - Callable 18 27,654,673.20 27,652,610.85 53.73 2.485 1,265
Total and Average • 20 51,467,026.60 51,464,964.25 100.00 1.482 702
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AP
Run Date. 05/11/2010 - 11:20 •
ST (PRF_ST) SymRept 6.42
Report Ver. 5.00
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/� � \\ `7 . City of Yakima
a City of Yakima Portfolio
(� `�� Investments by Issuer 129 North Second Street
Yakima, WA 98901
» ! / (509)576 -6639
�y + Nuipre
! ss Active Investments
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Grouped by Fund - Sorted by Fund
March 31, 2010
Investment Current Market ¥TM Redemption Days To Call
CUSIP : Investment # Security Type Class Book Value Rate Market Value Date 365 Date Maturity Date Collateral
Fund: Irrigation Capital '
Federal Farm Credit Bank
31331GDF3 1365 Federal Agency Coupon - Callable Fair 1,000,000.00 4.250 1,020,310.00 03/31/2010 4.250 10/15/2013 1,293 10/15/2010
Subtotal and Average 1,000,000.00 1,020,310.00 4.250 1,293
Fund: Treasurer's Surplus Cash -
Federal Farm Credit Bank
31331G4J5 1372 Federal Agency Coupon - Callable Fair 2,000,000.00 2.300 1,988,760.00 03/31/2010 2.300 04/28/2010 27
31331G4H9 1374 • Federal Agency Coupon - Callable Fair 1,000,000.00 1.820 999,380.00 03/31/2010 1.820 04/28/2010 27
' 31331JDA8 1379 Federal Agency Coupon - Callable Fair 4,997,584.08 2.375 5,004,700.00 03/31/2010 2.390 11/04/2013 1,313 05/04/2010 '
Subtotal and Average 7,997,584.08 7,992,840.00 2.296 830
Federal Home Loan Bank
3133XV6Z9 1358 Federal Agency Coupon Securities • Fair - 1,500,000.00 1.700 1,501,410.00 03/31/2010 1.700 04/23/2010 22 04/23/2010
3133XPRE6 - 1318 Federal Agency Coupon - Callable Fair 1,000,000.00 3.100 1,011,250.00 03/31/2010 3.100 08/25/2010 146
3133XSN95 1342 Federal Agency Coupon - Callable Fair 1,000,000.00 3.150 1,017,810.00 03/31/2010 3.150 11/23/2011. 601 05/23/2010
3133XUVE0 1370 • Federal Agency Coupon - Callable Fair 875,555.55 1.590 875,555.55 01/31/2010 1.590 04/19/2010 18 '
3133XVYZ8 . 1375 Federal Agency Coupon - Callable Fair 794,117.65 1.750 788,908.24 03/31/2010 1.750 12/17/2012 • 991
3133XX3K1 1383 Federal Agency Coupon - Callable Fair . 3,000,000.00 2.000 2,995,320.00 03/31/2010 2.000 ' 03/04/2013 1,068 06/04/2010
Subtotal and Average 8,169,673.20 • 8,190,253.79 2.152 ' 585
Federal Home Loan Mortgage Co.
3128X8WY4 1366 • - . Federal Agency Coupon -.Callable Fair 1,000,000.00 3.050 1,001,700.00 03/31/2010 3.050 04/22/2010 21 04/22/2010
3128X8YT3 1368 Federal Agency`Coupon - Callable Fair 1,000,000.00 3.000 1,002,420:00 03/31/2010 3.000 04/30/2014 1,490 04/30/2010
3133F4GU9 1371 Federal Agency Coupon - Callable Fair _ 499,455.43 1.000 500,965.00 03/31/2010 1.140 10/15/2012 928 10/15/2010
3128X9L81 1382 Federal Agency Coupon - Callable Fair 1,000,000.00 2.125 989,410.00 03/31/2010 2.125 03/24/2015 1,81,8 09/24/2010
3128X9TW0 - 1384. Federal Agency Coupon - Callable •- Fair 3,650,898.14 2.500 3,653,686.50 03/31/2010 2.492 - 04/19/2010 18 04/19/2010
Subtotal and Average 7,150,353.57 7,148,181.50 2.495 539
' Federal Nat'l Mtg. Assoc.
Portfolio BOND
Run Date: 05/11/201 AP
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City of Yakima io
Investments by Issuer Page 2
Grouped by Fund - Sorted by Fund
• Investment Current . Market YTM Redemption Days To Call
CUSIP • Investment # Security Type Class Book Value Rate Market Value Date 365 Date Maturity Date Collateral
3136FJS36 1376 Federal Agency Coupon - Callable Fair 1,000,000.00 3.000 1,002,810.00 03/31/2010 2.654 01/29/2015 1,764
3136FJS69 1377 Federal Agency Coupon - Callable Fair 1,500,000.00 3.000 1,504,215.00 03/31/2010 3.000 02/03/2015 1,769 08/03/2010
3136FJ2Y6 1378 Federal Agency Coupon - Callable Fair 1,335,000.00 3.050 1,336,668.75 03/31/2010 3.050 02/18/2015 1,784 08/18/2010 •
3136FMEE0 • 1380 Federal Agency Coupon - Callable Fair 1,000,000.00 2.000 1,000,630.00 03/31/2010 2.000 03/24/2015 1,818 09/24/2010
Subtotal and Average • 4,835,000.00 4,844,323.75 2.736 1,782
State of Washington L.G.I.P. _ •
SYS1050 1050 Local Government Investment Pool Amort 22,312,353.40 0.224 22,312,353.40 09/30/2009 0.224 - 1
.• Subtotal and Average 22,312,353.40 22,312,353.40 • 0.224 1
• Total and Average 51,464,964.25 51,508,262.44 1.482 • 490
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Run Date: 05/11/2010 - 11:43 _ DI (PRF_DI) SymRept 6.42
• Report Ver. 5.00
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� l City of Yakima
c
o _ , City of Yakima Portfolio 129 North Second Street
C " � Q,a ; l Activity Report Yakima, WA 98901
«p « . (509)576-6639
• s•..a�� +` ee.; Sorted By Issuer
z� °T`° sue. J anuary 1, 2010 - March 31, 2010 •
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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
31331GZ77 1356 Federal Farm Credit Bank 2.000 02/11/2010 0.00 5,000,000.00
31331G3C1 1363 Federal Farm Credit Bank 2.000 02/17/2010 0.00 _ 4,000,000.00
31331JDA8 1379 Federal Farm Credit Bank 2.375 02/16/2010 5,000,000.00 0.00
Subtotal and Balance - 13,000,000.00 5,000,000.00 9,000,000.00 9,000,000.00
Issuer Subtotal 17.487% 13,000,000.00 5,000,000.00 9,000,000.00 9,000,000.00
Issuer: Federal Home Loan Bank
Federal Agency Coupon Securities •
Subtotal and Balance 1 1,500,000.00
Federal Agency Coupon - Callable
3133XVJS1 1359 Federal Home Loan Bank 2.500 02/19/2010 0.00, 400,000.00
3133XVKM2 1361 Federal Home Loan Bank 2.000 02/10/2010 0.00 1,500,000.00
3133XVP88 1362 Federal Home Loan Bank 3.125 02/26/2010 0.00 3,000,000.00
3133XUVE0 1370 Federal Home Loan Bank 1.590 01/21/2010 0.00 1,094,444.45
3133XVYZ8 1375 Federal Home Loan Bank 1.750 03/17/2010 0.00 705,882.35
3133XX3K1 1383 Federal Home Loan Bank 2.000 03/09/2010 3,000,000.00 0.00
' Subtotal and Balance 10,370,000.00 3,000,000.00 6,700,326.80 6,669,673.20
Issuer Subtotal 15.874% 11,870,000.00 3,000,000.00 6,700,326.80 8,169,673.20 •
Issuer: Federal Home Loan Mortgage Co. .
Federal Agency Coupon - Callable .. . .
. 3128X9MC1 1369 Federal Home Loan Mortgage Co. 3.250 02/25/2010 • 0.00 440,000.00.
3128X9L81 1382 Federal Home Loan Mortgage•Co.- 2.125 03/24/2010 1,000,000.00 0.00
• 3128X9TW0 1384 Federal Home Loan Mortgage Co. . 2.500 03/12/2010 3,650,000.00 0.00 •
. Subtotal and Balance- 2,940,000.00 ' 4,650,000.00 440,000.00 7,150,000.00
Issuer Subtotal • 13.892% 2,940,000.00 4,650,000.00 440,000.00 7,150,000.00
Portfolio BOND
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Run Date: 05/11/201 - - DA (P mRept 6.42
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'. City of Yakima to •
Activity Repo
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January 1, 2010 - March 31, 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 Nat'! Mtg. Assoc. .
Federal Agency Coupon - Callable
3136FHQ24 1354 'Federal Nat'I Mtg. Assoc. 3.000 01/08/2010 0.00 1,000,000.00
3136FJS36 1376 Federal Nat'I Mtg. Assoc. 3.000 01/29/2010 1,000,000.00 • 0.00
3136FJS69 1377 Federal Nat'I Mtg. Assoc. 3.000 02/03/2010 1,500,000.00 0.00
3136FJ2Y6 1378 Federal Nat'I Mtg. Assoc: 3.050 02/18/2010 1,335,000.00 0.00
3136FMEE0 1380 • ' Federal Nat'I Mtg. Assoc. 2.000 03/24/2010 1,000,000.00 0.00
Subtotal and Balance • 1,000,000.00 4,835,000.00 1,000,000.00 4,835,000.00
Issuer Subtotal 9.394% 1,000,000.00 4,835,000.00 1,000,000.00 4,835,000.00
Issuer: State of Washington L.G.I.P. •
Local Government Investment Pool
SYS1050 1050 State of Washington L.G.I.P. 0.224 • . 7,016,276.87 10,500,000.00
Subtotal and Balance 25,796,076.53 7,016,276.87 10,500,000.00 22,312,353.40
Issuer Subtotal 43.353% 25,796,076.53 7,016,276.87 10,500,000.00 22,312,353.40
Total 100.000% 54,606,076.53 24,501,276.87 27,640,326.80 51,467,026.60
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Run Date. 05/11/2010 - 11:42 DA (PRF_DA) SymRept 6.42
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CITY OF YAKIMA
REPORT OF CASH BALANCES
March 31, 2010
Key Bank ((General Account) 3,411,416.75
Bank of New York (Fiscal Agent) (1) 0.00
U.S. Bank (Housing loan repayments) 7,211.60
Yakima Federal Savings and Loan Association (Housing) 165,916.50
Bank of America (Claims Control) (2) 476,434.97
U. S. Bank (Payroll Control) 8,694.45
U. S. Bank (Card Processing) 156,822.74
Inmate Trust - Key Bank 12,046.89
Inmate Welfare - Key Bank 15,516.78
Municipal Court - Key Bank 196,599.71
Petty Casl;' (3) 3,625.00
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 3/31/10 $4,469,565.3
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 R2010 -17
4 Change for customers established by Resolution R2010 -17
CITY OF YAKIMA
Schedule of General Obligation and Revenue Bond Activity
For the Period 01/01/10 through 03/31/10
GENERAL OBLIGATION BONDS
Original 12/31/09 Principal 03/31/10
Fund Date Issued Description Outstanding Final Payment Balance Redeemed Amount-Issued Balance
272 2002 .. PFD Convention Center I - unrefunded $ 1,280,000 06/02/16 $675,000 $0 $0 $675,000
283 6/17/2003 Series B Law and Justice - 1994 refunded $ 4,155,000 12/02/17 $1,910,000 $0 $0 $1,910,000
284 9/8/2008 Fire - 1995 Refunded $ 2,300,000 12/02/18 $1,330,000 $0 $0 $1,330,000
281 12/2/2009 Parks and Recreation $ .755,000 02/02/19 $490,000 $0 $0 $490,000
281 5/9/2011 River Road A4 $ 1,765,000 05/02/21 $1,470,000 $0 $0 $1,470,000
272 8/28/09 Series A PFD Capital Theatre Expansion - tax exempt $ 2,055,000 12/02/22. $1,880,000 $0 $0 $1,880,000
287 9/2/2008 PFD Convention Center II - 1996 refunded $ 4,175,000 11/02/23 $3,420,000 $0 $0 $3,420,000
281 8/29/2012 Infrastructure Projects $ 2,190,000 12/02/23 $1,980,000 $0 $0 $1,980,000
281 8/29/2012 Fire Truck $ 750,000 12/02/25 $705,000 $0 $0 $705,000
281 5/9/2011 Fire Station Al $ 815,000 05/02/26 $735,000 $0 $0 $735,000
281 5/9/2011 Downtown Futures A2 $ 1,490,000 05/02/26 $1,340,000 $0 $0 $1,340,000
281. 6/17/2003 Series A Sundome Expansion $ 1,430,528 12/02/27 $1,173,812 $0 $0 $1,173,812
272 8/28/09 Series B PFD Capital Theatre Expansion - BABs, taxable $ 1,755,000 12/02/28 $1,755,000 $0 $0 $1,755,000
272 5/9/2011 PFD Convention Center III- A3 2002 Partial refunded $ 4,910,000 05/02/30 $4,890,000 $0 $0 $4,890,000
272 8/28/09 Series B PFD Capital Theatre Expansion - BABs, taxable $ 3,225,000 12/02/36 $3,225,000 $0 . $0 $3,225,000
subtotal $ 33,050,528 $26,978,812 - $0 $0 $26,978,812
REVENUE BONDS
Original .12/31/09 Principal 03/31/10
Fund Date Issued Description Outstanding Final Payment Balance Redeemed Amount issued Balance
493 12/2/2003 Series A Wastewater $ - 7,390,000 11/02/18 $4,015,000 $0 $0 $4,015,000
484 6/6/2012 Water /Wastewater- 1998 refunded $1,516,691.29 11/02/22 $1,510,000 44.4% $0 $0 $1,510,000
486 6/6/2012 Water- 1998 refunded $1,883,308.71 11/02/22 $1,875,000 55.1% $0 $0 $1,875,000
493 12/2/2003 Series B Wastewater $ 10,155,000 11/02/27 $10,155,000 $0 $0 $10,155,000
488 6/6/2012 Wasterwater $ . 5,440,000 11/02/31 $5,365,000 0.0% $0 $0 $5,365,000
491 9/2/2008 Irrigation $ 5,215,000 09/02/38 $4,695,000 $0 $0 $4,695,000
subtotal $ 31,600,000 $27,615,000 $0 $0 $27,615,000
II Grand Total $ 64,650,528 $54,593,812. $0 . $0 $54,593,8121
III • III
City of Yakima
LID WAR RANTS PAYABLE
AS OF QUARTER ENDING MARCH 31, 2010
Balance Amount Amount
Account Number Previous Quarter Issued Redeemed Balance
21101.060 $384,336.35 $0.00 $0.00 $384,336.35
85th and Kale
21101.061 $497,727.90 $0.00 $497,727.90 $0.00'
Simpson Lane
Total Warrants Payable $882,064.25 $0.00 $497,727.90 $384,336.35
(1) Costs to LID in progress for which final assessment has not been confirmed.
ERP 5/11 /2010 10 :57 AM LID 1st Quarter 2010 xis Page 1 of 1
LID CASH BALANCES LID BONDS AND NOTES PAYABLE
As Of Quarter Ending March 31, 2010 As Of Quarter Ending March 31, 2010
LID Current LID Original LID Bond/Note Amount New LID LTD 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 - 7,106.02 182,759.24 0.00 0.00 0.00 0.00 Equipment Rental
1056 - S 7th, 8th, 9th 9,247.00 218,481.02 89,000.00 0.00 0.00 89,000.00 Equipment Rental
1057 - N 84th & Hawthorne 3,110.00 179,550.01. 82,500.00 0.00 0.00 82,500.00 Equipment Rental
1058 - N 95th, 94th Place 8,700.00 160,868.69 85,000.00 0.00 0.00 85,000.00 Equipment Rental
1060 - 85th and Kail 0.00 0.00 0.00 0.00 0.00 0.00 Pending Final Assessment
1061- Simpson Lane 59,888.00 0.00 0.00 0.00 497,727.90 497,727.90 Equipment Rental
Totals $73,838.98 $784,410.91 $256,500.00 $0.00 $497,727.90 $754,227.90
ERP 5/ 11:34 AM Treasury reports 1st Quarter 2010.x!s Page 1
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City of Yakima
LID BONDS / NOTES PAYABLE
vs.
LID GUARANTY FUND
AS OF QUARTER ENDING March 31th, 2010
Outstanding Bonds and Notes Payable $677,319.00
10% of Outstanding Balance $67,731.90
Guaranty Fund -221 $79,845.00
10% of Outstanding LID's Bonds and Notes Payable ($67,731.90)
Amount above (below) statutory minimum $12,113.10
ERP 5/11 /2010 10:57 AM LID 1st Quarter 2010.xls Page 1 of 1