SUMMARY OF INVESTMENT ACTIVITY QUARTER ENDING JUNE 30, 2012

Transcription

1 SUMMARY OF INVESTMENT ACTIVITY QUARTER ENDING JUNE 30, /30/20121 May 31, 2012 June 30, /31/2012 Avge Daily # Days Avge Interest Avge Daily # Days Avge Interest Avge Daily # Days Avge Interest 6/30/2012 Investment Category Balance Balance Invested Yield Received Balance Invested Yield Received Balance Invested Yield Received Balance Cash $ 11,521, ,222, % $ 4, ,819, % $ 4, ,975, % 5, $ 17,168, Colo Trust Plus (LGIP) 64,111, ,336, % 11, ,278, % 12, ,520, % 15, ,164, * CSAFE (LGIP) 8,885, ,719, % 1, ,145, % 2, ,201, % 4, ,894, Wells Fargo/CSAFE MM 58,221, ,383, % 8, ,961, % 13, ,982, % 12, ,218, Salomon Smith Barney MM 213, , % ,031, % ,214, % 1, ,215, Federated MM (UMB) 14,003, ,814, % 2, ,870, % 2, ,296, % 4, ,013, UBS Paine Weber MM 553, , % , % , % , Treasuries & Govt. Securities (per list below) 61,026, ,448, % 91, ,906, % - 25,869, % 93, ,869, REPO - Bayerische 13,974, ,974, % 5, ,652, % 4, ,978, % 4, ,627, REPO - Duetsche Bank 1,110, ,110, % - 1,110, % 23, ,110, % - 1,110, REPO - Citigroup 2,885, ,885, % - 2,885, % 57, ,885, % - 2,885, Stocks 3, na na na na na na na na na na na na 3, $ 236,510, , , , $ 342,724, ** Colo Trust - investment of AP check float ` 125, , , Glossary: 1 Purchased FNMA on December 31, 2009, for $10,721, that matures on September 15, 2012, for $10,000, (2009C GOB). Yield of 1.630%. 2 Purchased US Treasury Note on October 31, 2011, for $801, that matures on October 31, 2012 for $800, (General Fund). Yield of 0.16%. LGIP = Local Government Investment Pool 3 Purchased FHLMC on January 24, 2011, for $10,181, that matures on August 10, 2012 for $10,000, (2009C GOB). Yield of 0.57%. An investment by local governments in which their money is pooled as a method for managing local funds. MM = Money Market Mutual Fund Mutual funds that invest solely in money market instruments (short-term debt instruments, such as Treasury bills, commercial paper, bankers' acceptances, repos & federal funds). Treasuries & Govt. Securities: Obligations of, or entities sponsored & guaranteed by the U.S. government, backed by the full faith & credit of the government. REPO: An agreement of one party to sell securities at a specified price to a second party & a simultaneous agreement of the first party to * Includes $8,092,686 of 2009A GOB proceeds; $6,689,854 of 2009 QSCB proceeds; $21,624,077 of 2009C GOB proceeds; & $80,254 of 2010B proceeds. repurchase the securities at a specified price or at a specified ** Excludes forward deliveries of $11,427, and Retiree Life Insurance Trust of $6,334, later date.

2 SUMMARY OF INVESTMENT ACTIVITY QUARTER ENDING JUNE 30, 2012 Maturity Date of Cost of Security Trust Location Date Purchase Security Cash 17,168, XCEL Energy Inc. Munroe DPS OPEN OPEN $1, Chevron Texaco Stock Shafroth DPS OPEN OPEN Avaya Shafroth DPS OPEN OPEN Lucent Shafroth DPS OPEN OPEN SBC Corp Shafroth DPS OPEN OPEN 1, Repurchase Agreement Bayerische 5/25/2013 1/19/ ,627, Repurchase Agreement CitiGroup 11/29/2024 1/28/2011 2,885, Repurchase Agreement Duetsche Bank 5/1/2026 5/20/2011 1,110, Money Market- Sinking Funds Wells Fargo 7/1/2012 6/30/ , Money Market - General Wells Fargo 7/1/2012 6/30/ ,503, Money Market (CSAFE) C Bulding Fund Wells Fargo 7/1/2012 6/30/ ,203, Money Market (CSAFE) - Bond Redemption Fund Wells Fargo 7/1/2012 6/30/ ,384, Money Market Salomon Smith Barney 7/1/2012 6/30/ ,215, Money Market Federated (UMB) 7/1/2012 6/30/ ,013, Money Market UBS Paine Weber 7/1/2012 6/30/ , CSAFE CSAFE 7/1/2012 6/30/ ,894, US TREASURY NOTE UMB - SAFEKEEPING 10/31/ /31/ , FNMA Wells Fargo 9/15/ /31/ ,056, FNMA Wells Fargo 8/10/2012 1/24/ ,013, Forward Delivery - GOB US Bank OPEN OPEN 11,427, Retiree Life Insurance Trust MetLife OPEN 7/1/2007 6,334, ColoTrust Plus - G&S ColoTrust 7/1/2012 6/30/ ,457, ColoTrust Plus - TABOR ColoTrust 7/1/2012 6/30/2012 1,155, ColoTrust Plus - Trust ColoTrust 7/1/2012 6/30/2012 1,064, ColoTrust Plus B QSCB ColoTrust 7/1/2012 6/30/2012 6,689, ColoTrust Plus C GOB ColoTrust 7/1/2012 6/30/ ,624, ColoTrust Plus A GOB ColoTrust 7/1/2012 6/30/2012 8,092, ColoTrust Plus B GOB ColoTrust 7/1/2012 6/30/ , Total 360,487, Less: Forward Delivery - Sept held by Custodian (11,427,829.58) Forward Delivery C GOB held by Custodian 0.00 Retiree Life Insurance Trust (6,334,672.54) Total Reported on Summary of Investment Activity $342,724,754.52

3 Disbursing Department COO Monthly Operations Review 6/30/12 1

4 Interest Rate Return on Investment for Cash Mgmt. Calculation: Avg. rate/avg. balance Target: to exceed benchmark Status: Achieved Rate of Return on Investments Average Balances 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% 0.00% Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Govt Invt Pool 0.11% 0.09% 0.07% 0.07% 0.08% 0.08% 0.08% 0.14% 0.20% 0.20% 0.20% 0.21% 0.24% Money Markets 0.09% 0.07% 0.08% 0.08% 0.08% 0.07% 0.06% 0.02% 0.02% 0.18% 0.18% 0.19% 0.19% Govt Securities 0.52% 0.52% 0.55% 0.52% 0.52% 0.55% 0.64% 0.66% 0.69% 0.68% 0.72% 0.90% 0.97% Repurchase Agmt. 0.60% 0.61% 0.63% 0.65% 0.67% 0.70% 1.19% 1.20% 1.21% 1.22% 1.22% 1.24% 1.27% Cash 0.35% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.30% 0.30% 0.30% Average 0.33% 0.31% 0.35% 0.33% 0.36% 0.39% 0.51% 0.47% 0.47% 0.40% 0.39% 0.36% 0.35% 6-mth T-bill 0.10% 0.04% 0.04% 0.03% 0.05% 0.01% 0.05% 0.05% 0.11% 0.15% 0.13% 0.14% 0.15% 2 Significant Events: The recovery of the U.S. economy from the Great Recession is showing signs of stalling, with economic growth decelerating. Internal factors still holding back this recovery are the weak housing market, declining retail sales, and continued high unemployment, with job creation very weak. External factors also continue to play a large part, with political and financial turmoil in the euro zone taking place within a fragile global recovery. Capital preservation is taking priority over rate of return.

5 Denver Public Schools Investment Portfolio Composition by Instrument June 30, 2012 Total amount invested = $342,724,755 Repurchase Agmt., 16,622,614, 5% Cash, 17,172,820, 5% Includes $3,982 in stock Money Market Funds, 164,000,884, 48% Local Government Pool, 124,058,681, 36% U. S. Instrumentality, 20,869,755, 6% 3 Cash Local Government Pool U. S. Instrumentality Money Market Funds Repurchase Agmt.

6 Total amount invested =$342,724,755 Denver Public Schools Investment Portfolio Composition by Fund June 30, 2012 QSCB, 19,317,467, 6% TRUST, 1,064,198, 0% BOND REDEMPTION, 58,506,791, 17% OPERATING, 168,766,888, 49% BUILDING, 95,069,410, 28% 4 OPERATING BUILDING BOND REDEMPTION QSCB TRUST

7 80 INVESTMENT MIX SINCE JUNE 30, 2009 Fiscal Year-Ending Months 73 6/30/2009 6/30/2010 6/30/2011 P E R C E N T A G E /30/ Govt Securities Invt Pool Money Market REPO Cash 5

8 Performance to 6-Months T-bill Benchmark Year-ending months since 2007 R a t e s Year End Interest Rates (percentage) Dec-07 Dec-08 Dec-09 Dec-10 Dec Govt Invt Pool Money Markets Govt Securities REPO Cash Average 6-mth T-bill 6

9 STATE LOAN AMOUNT BORROWED during each fiscal year (in millions) Paid in full on 3/12/12 FY12 82 Paid in full on 6/24/11 FY11 96 Paid in full on 5/11/10 FY Paid in full on 5/11/09 FY09 Paid in full on 5/12/ FY

10 SUMMARY OF CASH RECEIPTS AND DISBURSEMENTS QUARTER ENDING: JUNE 30, 2012 Cash/Investments Balance as of 6/30/12 Balance as of 6/30/11 Bonds GOB Series 2009A 8,092,686 18,831,903 GOB Series 2009B 6,689,854 13,194,040 GOB Series 2009C 86,929, ,737,236 GOB Series 2010A 12,627,614 25,534,149 GOB Series 2010B 80,254 1,164,115 Bond Redemption 69,948,789 63,610,192 TOTAL BONDS 184,368, ,071,635 Restricted ProComp 63,704,234 72,066,082 Trust Fund 7,494,977 7,467,964 Food Services Fund 1,021, ,416 Insurance Reserve Fund Res 1,795,710 1,739,947 PCOP Forward Delivery 534,329 1,846,711 PCOP Stabilization 3,000,935 3,000,111 Other Restricted 4,631,009 4,632,019 TOTAL RESTRICTED 82,182,969 91,527,250 Operating General Fund 120,758, ,987,295 Capital Reserve Fund 20,970,642 13,943,352 Internal Service Fund 306, ,812 Insurance Reserve Fund 3,881,665 7,540,015 Special Revenue Fund 21,691,459 20,009,582 Pupil Activity Fund 723, ,199 State & Federal Grants 9,609,960 10,588,699 TOTAL OPERATING 177,942, ,976,954 TOTAL CASH 444,494, ,575, As of 6/30/11, the District had borrowed and repaid $64M from the State Interest Free Loan Program. As of 6/30/12, the District has borrowed and repaid $81.9M from the State Interest Free Program. 8/2/2012