AGENDA ITEM NO: 4.D.1 MEETING DATE: 5/19/2014 ADMINISTRATIVE REPORT NO.: 2014-62 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 53607 and 53646(b). DISCUSSION Funds have been managed and invested in compliance with the Public Utilities Board s Resolution No. 5017 (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, 2014. 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 2014. BUDGET CONSIDERATION/FINANCIAL IMPACT None.
AGENDA ITEM NO: 4.D.2 MEETING DATE: 5/19/2014 ADMINISTRATIVE REPORT NO.: 2014-62 EXHIBITS A. Investment Portfolio Summary and Detail B. Supplemental Schedule - Sources of Investments & Investment Portfolio C. Resolution No. 5017
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 $26,125,117 75.78% 0.236% U.S. Government Agencies 1,000,000 999,680 998,633 2.90% 0.137% Cash - Uninvested 290,116 290,116 290,116 0.84% 0.020% Certificates of Deposit(s) 7,078,889 7,053,104 7,060,000 20.48% 0.352% Weighted Average Return of Total Investment Portfolio $34,494,123 $34,468,017 $34,473,866 100.00% 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
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 $26,125,117 0.236% $26,125,117 01-Mar-14 31-Mar-14 31 0.236% $26,125,117 U.S. Government Agencies US Treasury Bill Zero Coupon $1,000,000 0.137% $999,680 18-Oct-13 16-Oct-14 363 0.137% $998,633 Cash $83 0.000% $83 01-Mar-14 31-Mar-14 31 0.000% $83 Cash-Morgan Stanley Bank NA # $245,000 0.020% $245,000 01-Mar-14 31-Mar-14 31 0.020% $245,000 Cash-Morgan Stanley Private Bank NA # $45,033 0.020% $45,033 01-Mar-14 31-Mar-14 31 0.020% $45,033 Subtotal $290,116 $290,116 0.020% $290,116 Certificates of Deposit Morgan Stanley CD - Bank of India New York NY $245,733 0.300% 244,980 24-Apr-13 23-Apr-14 364 0.300% $245,000 Morgan Stanley CD - Beal Bank Las Vegas NV $245,611 0.250% 244,976 01-May-13 30-Apr-14 364 0.250% $245,000 Morgan Stanley CD - Bank Baroda New York City NY $245,733 0.300% 244,946 31-May-13 30-May-14 364 0.300% $245,000 Morgan Stanley CD - Mercantil CD Coral Gables FL $245,735 0.300% 244,936 05-Jun-13 05-Jun-14 365 0.300% $245,000 Morgan Stanley CD - Comenity Bank Jumbo (formerly World Finl Network Bank) DE $200,289 0.400% 199,922 12-Jun-13 12-Jun-14 365 0.400% $200,000 Morgan Stanley CD - TCF Sioux Falls SD $245,613 0.250% 244,934 12-Jun-13 12-Jun-14 365 0.250% $245,000 Morgan Stanley CD - Plainscap BK Dallas TX $245,611 0.250% 244,934 14-Jun-13 13-Jun-14 364 0.250% $245,000 Morgan Stanley CD - First Natl BK Elk River MN $245,112 0.250% 244,919 28-Jun-13 27-Jun-14 364 0.250% $245,000 Morgan Stanley CD - Discover Greenwood DE $245,980 0.400% 244,973 10-Jul-13 10-Jul-14 365 0.400% $245,000 Morgan Stanley CD - Privatebank Chicago IL $245,858 0.350% 244,971 16-Jul-13 16-Jul-14 365 0.350% $245,000 Morgan Stanley CD - Rollstone Bank Fitchburg MA $245,858 0.350% 244,971 24-Jul-13 24-Jul-14 365 0.350% $245,000 Morgan Stanley CD - Medallion Bank Salt Lake City UT $244,512 0.350% 244,968 02-Aug-13 01-Aug-14 364 0.350% $245,000 Morgan Stanley CD - GE CAP Bank Salt Lake City UT $244,940 0.350% 244,909 09-Aug-13 08-Aug-14 364 0.350% $245,000 Morgan Stanley CD - Safra National BK New York NY $245,980 0.400% 244,946 15-Aug-13 15-Aug-14 365 0.400% $245,000 Morgan Stanley CD - Beal Bank Plano TX $245,733 0.300% 244,924 11-Sep-13 10-Sep-14 364 0.300% $245,000 Morgan Stanley CD - Bank Hapoalim New York NY $246,103 0.450% 244,922 04-Nov-13 04-Nov-14 365 0.450% $245,000 Morgan Stanley CD - Doral Bank CD San Juan PR $246,099 0.450% 244,909 15-Nov-13 14-Nov-14 364 0.450% $245,000 Morgan Stanley CD - Compass BK Birmingham AL $245,418 0.400% 244,848 23-Oct-13 23-Oct-14 365 0.400% $245,000 ITEM 4.D.1 MEETING DATE: 05/19/2014 EXHIBIT A: PAGE 2 OF3
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 $245,027 0.400% 244,814 26-Nov-13 26-Nov-14 365 0.400% $245,000 Morgan Stanley CD - ST BK India New York NY $245,980 0.400% 244,811 26-Nov-13 26-Nov-14 365 0.400% $245,000 Morgan Stanley CD- mizuh New York NY $246,103 0.450% 245,319 18-Dec-13 18-Dec-14 365 0.450% $245,000 Morgan Stanley CD - First Bank Santurce PR $245,894 0.400% 244,635 31-Jan-14 30-Jan-15 364 0.400% $245,000 Morgan Stanley CD - BBCN BK Los Angel Los Angeles, CA $245,566 0.250% 244,243 26-Feb-14 26-Feb-15 365 0.250% $245,000 Morgan Stanley CD - BK China New York NY $245,613 0.250% 244,282 26-Feb-14 26-Feb-15 365 0.250% $245,000 Morgan Stanley CD - 1st Niagara Buffalo, NY $245,733 0.300% 244,267 07-Mar-14 06-Mar-15 364 0.300% $245,000 Morgan Stanley CD - Cole Taylor Bank Chicago, IL $245,733 0.300% 244,238 14-Mar-14 13-Mar-15 364 0.300% $245,000 Morgan Stanley CD - Amboy Natl BK Old Bridge, NJ $245,733 0.300% 244,174 28-Mar-14 27-Mar-15 364 0.300% $245,000 Morgan Stanley CD - Everbank Jacksonville, FL $245,858 0.350% 244,277 31-Mar-14 31-Mar-15 365 0.350% $245,000 Morgan Stanley CD - Synovus Bank Columbus, GA $245,735 0.300% 244,155 31-Mar-14 31-Mar-15 365 0.300% $245,000 Total $7,078,889 $7,053,104 0.352% $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 3-31-2014 ITEM 4.D.1 MEETING DATE: 05/19/2014 EXHIBIT A: PAGE 3 OF 3
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 10 3401 18,770,493 Clean Future Fund 10 3147 100,439 Donations to AUSD 10 3151 11,579 Federal Grant Remaining 10 3221 9,963 Reserves For Special Purposes Insurance Reserve Special Fund 10 2107 1,200,000 Underground Fund Carryforward 7/1/2013 10 2111 4,819,320 FY 2015 Undergrounding Funding 10 2111 802,454 Underground Special Fund Used in FY 2014 10 2111 (4,517) Net - Underground Fund Available (Deficiency) 5,617,257 Solar PV Rebate Reserve 10 2112 216,273 REC Net Revenue Reserve 10 2113 6,298,395 Cap & Trade Net Revenue Reserve 10 2114 636,391 Total Sources For Investments $34,473,866 * General Ledger Balance 03-31-2014 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