Subject: Treasurer s Report for the Month Ended April 30, 2014

Transcription

1 AGENDA ITEM NO: 4.D.1 MEETING DATE: 5/19/2014 ADMINISTRATIVE REPORT NO.: To: Honorable Public Utilities Board Submitted by: /s/ Robert J. Orbeta AGM - Administration From: Ina Soo-Hoo Financial Analyst Approved by: /s/ Ronald V. Stassi Interim General Manager Subject: Treasurer s Report for the Month Ended April 30, 2014 RECOMMENDATION For information, no action is recommended. BACKGROUND This report is submitted in compliance with Alameda Municipal Power s (AMP) policy and the State of California Government Code Sections and 53646(b). DISCUSSION Funds have been managed and invested in compliance with the Public Utilities Board s Resolution No (attached). AMP s expenditure requirements for the next six-months are covered by anticipated revenues and the liquidity of current investments. Investments The stated value of AMP s investment portfolio totaled $34,494,123 at investment maturity. The current market value of the portfolio totaled $34,468,017. Investments are held to maturity or may be sold when prices yield a gain on the sale. The overall portfolio had a weighted average interest rate yield of 0.255%. Interest Rates During the period, rates on 90-day T-Bills decreased 1 basis point to 0.03% on April 25, 2014 from 0.04% on March 27, Rates on the 30-day London Interbank Offered Rate (LIBOR) decreased 1 basis point to 0.15% in April, 2014 from at 0.16% in March BUDGET CONSIDERATION/FINANCIAL IMPACT None.

2 AGENDA ITEM NO: 4.D.2 MEETING DATE: 5/19/2014 ADMINISTRATIVE REPORT NO.: EXHIBITS A. Investment Portfolio Summary and Detail B. Supplemental Schedule - Sources of Investments & Investment Portfolio C. Resolution No. 5017

3 Alameda M unicipal Power INVESTM ENT PORTFOLIO SUM M ARY April 30, 2014 Stated Current Book Percent of Average Value Market Value Value Total Return Local Agency Investment Fund $26,125,117 $26,125,117 $26,125, % 0.236% U.S. Government Agencies 1,000, , , % 0.137% Cash - Uninvested 290, , , % 0.020% Certificates of Deposit(s) 7,078,889 7,053,104 7,060, % 0.352% Weighted Average Return of Total Investment Portfolio $34,494,123 $34,468,017 $34,473, % 0.255% FY 2014 Budgeted Interest Income $105,000 FY2014 Year-to-date Interest Income (Estimated) $55,881 Percent of Interest Received To Date 53.22% Actual Budgeted FY 2013 Interest Income $98,920 $120,000 FY 2012 Interest Income $119,699 $136,500 FY 2011 Interest Income $160,823 $150,000 FY 2010 Interest Income $305,857 $586,200 FY 2009 Interest Income $696,820 $800,000 ITEM 4.D.1 MEETING DATE: 05/19/2014 EXHIBIT A: PAGE 1 OF 3

4 Alameda M unicipal Power DETAIL OF INVESTMENT PORTFOLIO April 30, 2014 Investment Stated Interest Current Date of Date of Days Book Value Description Custodian Value Rate Market Value Investment Maturity Invested Yield Purchase Price Local Agency Invstmnt. Fd.(LAIF) LAIF $26,125, % $26,125, Mar Mar % $26,125,117 U.S. Government Agencies US Treasury Bill Zero Coupon $1,000, % $999, Oct Oct % $998,633 Cash $ % $83 01-Mar Mar % $83 Cash-Morgan Stanley Bank NA # $245, % $245, Mar Mar % $245,000 Cash-Morgan Stanley Private Bank NA # $45, % $45, Mar Mar % $45,033 Subtotal $290,116 $290, % $290,116 Certificates of Deposit Morgan Stanley CD - Bank of India New York NY $245, % 244, Apr Apr % $245,000 Morgan Stanley CD - Beal Bank Las Vegas NV $245, % 244, May Apr % $245,000 Morgan Stanley CD - Bank Baroda New York City NY $245, % 244, May May % $245,000 Morgan Stanley CD - Mercantil CD Coral Gables FL $245, % 244, Jun Jun % $245,000 Morgan Stanley CD - Comenity Bank Jumbo (formerly World Finl Network Bank) DE $200, % 199, Jun Jun % $200,000 Morgan Stanley CD - TCF Sioux Falls SD $245, % 244, Jun Jun % $245,000 Morgan Stanley CD - Plainscap BK Dallas TX $245, % 244, Jun Jun % $245,000 Morgan Stanley CD - First Natl BK Elk River MN $245, % 244, Jun Jun % $245,000 Morgan Stanley CD - Discover Greenwood DE $245, % 244, Jul Jul % $245,000 Morgan Stanley CD - Privatebank Chicago IL $245, % 244, Jul Jul % $245,000 Morgan Stanley CD - Rollstone Bank Fitchburg MA $245, % 244, Jul Jul % $245,000 Morgan Stanley CD - Medallion Bank Salt Lake City UT $244, % 244, Aug Aug % $245,000 Morgan Stanley CD - GE CAP Bank Salt Lake City UT $244, % 244, Aug Aug % $245,000 Morgan Stanley CD - Safra National BK New York NY $245, % 244, Aug Aug % $245,000 Morgan Stanley CD - Beal Bank Plano TX $245, % 244, Sep Sep % $245,000 Morgan Stanley CD - Bank Hapoalim New York NY $246, % 244, Nov Nov % $245,000 Morgan Stanley CD - Doral Bank CD San Juan PR $246, % 244, Nov Nov % $245,000 Morgan Stanley CD - Compass BK Birmingham AL $245, % 244, Oct Oct % $245,000 ITEM 4.D.1 MEETING DATE: 05/19/2014 EXHIBIT A: PAGE 2 OF3

5 Alameda M unicipal Power DETAIL OF INVESTMENT PORTFOLIO April 30, 2014 Investment Stated Interest Current Date of Date of Days Book Value Description Custodian Value Rate Market Value Investment Maturity Invested Yield Purchase Price Morgan Stanley CD - Enerbank USA Salt Lake City UT $245, % 244, Nov Nov % $245,000 Morgan Stanley CD - ST BK India New York NY $245, % 244, Nov Nov % $245,000 Morgan Stanley CD- mizuh New York NY $246, % 245, Dec Dec % $245,000 Morgan Stanley CD - First Bank Santurce PR $245, % 244, Jan Jan % $245,000 Morgan Stanley CD - BBCN BK Los Angel Los Angeles, CA $245, % 244, Feb Feb % $245,000 Morgan Stanley CD - BK China New York NY $245, % 244, Feb Feb % $245,000 Morgan Stanley CD - 1st Niagara Buffalo, NY $245, % 244, Mar Mar % $245,000 Morgan Stanley CD - Cole Taylor Bank Chicago, IL $245, % 244, Mar Mar % $245,000 Morgan Stanley CD - Amboy Natl BK Old Bridge, NJ $245, % 244, Mar Mar % $245,000 Morgan Stanley CD - Everbank Jacksonville, FL $245, % 244, Mar Mar % $245,000 Morgan Stanley CD - Synovus Bank Columbus, GA $245, % 244, Mar Mar % $245,000 Total $7,078,889 $7,053, % $7,060,000 Grand Total $34,494,123 $34,468,017 Weighted Average Interest Rate 0.255% $34,473,866 (1) LAIF & MS are based on stated value. Stated value = the total value at maturity date (2) Portfolio details are based on available third-party statements as of ITEM 4.D.1 MEETING DATE: 05/19/2014 EXHIBIT A: PAGE 3 OF 3

6 Alameda M unicipal Power Supplemental Schedule Sources of I nvestments & I nvestment Portfolio April 30, 2014 SOURCES FOR INVESTM ENTS Account* Operating Funds $1,613,076 Liabilities Balancing Account ,770,493 Clean Future Fund ,439 Donations to AUSD ,579 Federal Grant Remaining ,963 Reserves For Special Purposes Insurance Reserve Special Fund ,200,000 Underground Fund Carryforward 7/1/ ,819,320 FY 2015 Undergrounding Funding ,454 Underground Special Fund Used in FY (4,517) Net - Underground Fund Available (Deficiency) 5,617,257 Solar PV Rebate Reserve ,273 REC Net Revenue Reserve ,298,395 Cap & Trade Net Revenue Reserve ,391 Total Sources For Investments $34,473,866 * General Ledger Balance Source for Investments Operating Funds, 1,613,076, 5% Reserves, 13,968,316, 40% Liablities, 18,892,475, 55% ITEM 4.D.1 MEETING DATE: 05/19/2014 EXHIBIT B: PAGE 1 OF 1

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