R2004-125 08-09-04RESOLUTION NO. R2004-125
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PEARLAND, TEXAS, ACCEPTING THE CITY'S INVESTMENT REPORT
FOR THE QUARTER ENDING JUNE 2004.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS:
Section 1. That the City Council hereby accepts the City's Investment Report for
the Quarter ending June 2004.
PASSED, APPROVED, AND ADOPTED this
August , A.D., 2004.
9th day of
TOM REID
MAYOR
ATTEST:
APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY
•
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Quarterly Investment Report
Ending as of June 30, 2004
PATTERSON & ASSOCIATES
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City of Pearland, Texas
Quarterly Investment Report
March 31, 2004 - June 30, 2004
The following reports are submitted in accordance with the Public Funds Investment Act (Chapter 2256). The report also offers
supplemental information not required by the Act to fully inform the City Council of the position and activity within the City of
Pearland's portfolio of investments. The reports include a management summary overview, detailed inventory report for the end of the
period, and a transaction report as well as graphic representations of the portfolio to provide full disclosure to the City Council. This
quarterly report is designed to supplement the monthly portfolio reporting made to the City every month as compiled and maintained by
the Investment Advisor, Patterson &Associates.
The City of Pearland's portfolio is managed in full compliance with the Public Funds Investment Act, the City's Investment Policy and
Strategy and under the strictest safety parameters as set by the City Council.
A copy of Section 2256.023 of the Act pertaining to Internal Management Reports is attached to this report for reference.
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City of Pearland, Texas
Operating Fund Quarterly Investment Report
March 31, 2004 - June 30, 2004
Portfolio Summary Management Report
This quarterly report is in compliance with the investment policy and strategy as established by the City and the Public Funds
Investment Act (Chapter 2256, Texas Government Code).
Portfolio as of March 31, 2004 Portfolio as of June 30, 2004
Beginning Book Value $ 81,513,447 Ending Book Value $ 73,560,650
Beginning Market Value $ 81,514,572 Ending Market Value $ 73,541,102
Accrued Interest Receivable $ 49,792
Unrealized Gain/Loss $ 1,125 Unrealized Gain/Loss on $ (19,548)
Change in Unrealized Gain/Loss $ (20,673)
WAM at Beginning Period Date' 25 days WAM at Ending Period Date' 24 days
Change in Market Value2 $ (7,973,470)
Average Yield to Maturity for period 1.24%
Average Yield 90-day Treasury Bill for period 1.10%
Average Yield 1-year Treasury Bill for period 1.78%
P aedly •
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ityJ of Pearland Reg'stered Investment Advisor
Andrea Gardner, Finance Director Patterson & Associates, Linda T. Patterson, President
WAM represents weighted average maturity.
2 Change in Market Value is required data, but will primarily reflect the receipt and expenditure of the City's funds from quarter to quarter.
City of Pearland, Texas
INVENTORY HOLDINGS REPORT
06/30/04
Settle Sec Purchase Purch Purchase Original Daily Current Market Market Original Current
Fund Date CUSIP Type Par Coupon Maturity Price Yield Principal Prem/Disc Amort Book Price Value Gain/Loss D-T-M D-T-M Amortztn
I I I I I I I I I I I I 1 I I I I I I t
Choice IV Public Funds' 06/30/04 14580 Sweep -329,863 1.380% 07/01/04 100.000 1.380% -329,863 0 0.00 -329,863 100.000 -329,863 0 1 I 0
WellsFargo-CompBalance 06/30/04 12726931 MM 1,900,000 0.000% 07/01/04 100.000 0.000% 1,900,000 0 0.00 1,900,000 100.000 1,900,000 0 I I 0
Wells Fargo PPF 06/30/04 8184566092 MM 56,349,169 1.380% 07/01/04 100.000 1.380% 56,349,169 0 0.00 56,349,169 100.000 56,349,169 0 1 I 0
JPMorgan Inst.MM 06/30/04 68231N206 MM 183,969 1.020% 07/01/04 100.000 1.020% 183,969 0 0.00 183,969 100.000 183,969 0 I 1 0
Cert.of Obligation'98 05/25/04 700010728 CD 4,287,277 1.022% 07/01/04 100.000 1.022% 4,287,277 0 0.00 4,287,277 100.000 4,287,277 0 37 I 0
Police 07/24/03 700010316 CD 5,000 1.062% 07/23/04 100.000 1.062% 5,000 0 0.00 5,000 100.000 5,000 0 365 23 0
Water&Sewer 08/04/03 FC-625456 CD 226,875 1.650% 08/04/04 100.000 1.650% 226,875 0 0.00 226,875 100.000 226,875 0 366 35 0
Drainage 12/09/03 700010496 CD 4,911,944 1.250% 09/09/04 100.000 1.250% 4,911,944 0 0.00 4,911,944 100.000 4,911,944 0 275 71 0
Pooled 10/22/03 3I3396F32 FMCDN 1,000,000 0.000% 09/09/04 98.825 1.344% 988,246 11,754 36.39 997,416 99.728 997,278 -138 323 71 9,170
Contingency 03/15/04 700010622 CD 313,867 1.250% 09/13/04 100.000 1.250% 313,867 0 0.00 313,867 100.000 313,867 0 182 75 0
Police 03/24/04 700010636 CD 5,155 1.027% 09/20/04 100.000 1.027% 5,155 0 0.00 5,155 100.000 5,155 0 180 82 0
Police 01/30/04 700010579 CD 5,027 1.024% 10/26/04 100.000 1.024% 5,027 0 0.00 5,027 100.000 5,027 0 270 118 0
1999 W&S Rev Bonds 04/22/04 313589AG8 FNDN 1,000,000 0.000% 01/07/05 99.039 1.363% 990,394 9,606 36.94 992,944 99.003 990,026 -2,918 260 191 2,549
2001-02 Mobility Bonds 04/22/04 31339713Q3 FMCDN 1,000,000 0.000% 02/08/05 98.869 1.431% 988,685 11,315 38.75 991,359 98.823 988,231 -3,128 292 223 2,674
Economic Development 03/10/04 FC-617313 CD 500,000 1.550% 03/10/05 100.000 1.550% 500,000 0 0.00 500,000 100.000 500,000 0 365 253 0
Accrued Compensation 03/19/04 FC-617412 CD 40,000 1.350% 03/19/05 100.000 1.350% 40,000 0 0.00 40,000 100.000 40,000 0 365 262 0
St.Assessment 03/19/04 FC-609260 CD 50,000 1.350% 03/19/05 100.000 1.350% 50,000 0 0.00 50,000 100.000 50,000 0 365 262 0
2001 Cert.of Obligation 04/22/04 3I3397DY4 FMCDN 1,000,000 0.000% 04/05/05 98.550 1.538% 985,500 14,500 41.67 988,375 98.365 983,648 -4,728 348 279 2,875
St.Assessment-Southfork 06/21/04 3I3589GCI FNDN 145,000 0.000% 05/27/05 97.971 2.212% 142,058 2,942 8.65 142,136 97.931 142,000 -136 340 331 78
General 04/19/04 3133X5WH7 FHCAL 1,000,000 1.445% 07/19/05 100.000 1.455% 1,000,000 0 0.00 1,000,000 99.150 991,500 -8,500 456 384 0
GRAND TOTAL: 73.593.420 1.321% 73.543.304 77.5611650 73.541.102 -19.548 al 17246
1 Choice IV Public Funds Plus Account is the City of Pearland's sweep investment.
Maturity Break 60,0uu,000 _ Asset Break
by Book Value by Book Value 60,000,000
50,000,1100-
50.000,000-
Sweep -329,863 40,000.000- AN 1,000,000 40xl u ,0ua-
Money Market 58,249,169 3o,uoe,ouo- AD 4,112,230
Texpool 0 CD 10,345,145 30.000,000-
0-3 mos 10,747,535 20,000,000- Texpool 0 20 000 000-
3-6 mos 5,027 Money Market 58,249,169
6-9 mos 2,574,302 10,0oo,00u- Sweep 329,863 o,ouo,00u-
9-12 mos 1,130,511 c I -1 i i i I-i
III
1-2 yrs I,000.000 Sweep Money Texpool 0-3 mos 3-6 mos 6-9 mos 9-12 1-2 yrs
73.376.681 Market mos 73 376 681 AN AD CD Texpool Money Sweep
Mulct
CITY OF PEARLAND, TEXAS
Quarterly Portfolio Change - General Revenue Fund
Portfolio Assets as of 3/31/04 Portfolio Assets as of 6/30/04
CD CD
12.9% _ 12.9%
Sweep /' Sweep
.� 4.3% // \ 4.3%
�� A-Note --.— A-Note
i ,�_�_ ff— 2.5% D-Note , /- _ 2.5% D-Note
1.2% ^' 1.2%
•
Money Market - Money Market
79.2% 79.2%
Average Portfolio Yield : 1.168% Average Portfolio Yield: 1.244%
Average Portfolio Maturity: 25 days Average Portfolio Maturity: 24 days
% Maturing within 3 months: 89% % Maturing within 3 months: 94%
k
City of Pearland, Texas
Quarterly Position Change Report
06/30/04
Beginning Beginning Ending Ending
Settle Sec Book Value Market Value Book Value Market Value
Fund Date CUSIP Type Par Coupon Maturity 03/31/04 03/31/04 06/30/04 06/30/04
I I I I I I I I I I I I
Marketable Securities:
Cert. of Obligation'98 05/25/04 700010635 CD 4,287,277 1.022% 07/01/04 4,279,977 4,279,977 4,287,277 4,287,277
St.Assessment-Southfork 06/10/03 FC-624079-15 CD 0 1.650% 06/10/04 141,492 141,492 0 0
Police 07/24/03 700010316 CD 5,000 1.062% 07/23/04 5,000 5,000 5,000 5,000 _
Water&Sewer 08/05/03 FC-625456 CD 226,875 1.650% 08/04/04 226,875 226,875 226,875 226,875
Drainage 2002 12/09/03 700010496 CD 4,911,944 1.250% 09/09/04 4,911,944 4,911,944 4,911,944 4,911,944
Pooled 10/22/03 313396F32 FMCDN 1,000,000 0.000% 09/09/04 994,105 995,230 997,416 997,278
Contingency 03/15/04 700010622 CD 313,867 1.250% 09/13/04 313,867 313,867 313,867 313,867
Police 03/24/04 700010636 CD 5,155 1.027% 09/20/04 5,155 5,155 5,155 5,155
Police 01/30/04 700010579 CD 5,027 1.024% 10/26/04 5,027 5,027 5,027 5,027
1999 W&S Rev Bonds 04/22/04 313589AG8 FNDN 1,000,000 0.000% 01/07/05 0 0 992,944 990,026
2001-02 Mobility Bonds 04/22/04 313397BQ3 FMCDN 1,000,000 0.000% 02/08/05 0 0 991,359 988,231
Pooled 10/08/03 3128X1W78 FMCAL 0 1.300% 11/02/04 2,000,000 2,000,000 0 0
Economic Development 03/10/04 FC-617313 CD 500,000 1.550% 03/10/05 500,000 500,000 500,000 500,000
Accrued Compensation 03/19/04 FC-617412 CD 40,000 1.350% 03/19/05 40,000 40,000 40,000 40,000
St.Assessment 03/19/04 FC-609260 CD 50,000 1.350% 03/19/05 50,000 50,000 50,000 50,000
2001 Cert.of Obligation 04/22/04 313397DY4 FMCDN 1,000,000 0.000% 04/05/05 0 0 988,375 983,648
St.Assessment-Southfork 06/21/04 31358GC1 FNDN 145,000 0.000% 05/27/05 0 0 142,136 142,000
General 04/19/04 3133X5WH7 FHCAL 1,000,000 1.445% 07/19/05 0 0 1,000,000 991,500
Total Marketable Securities: 15,490,145 13,473,442 13,474,567 15,457,375 15,437,827
Cash Positions: Pooled Investments:
Choice IV Public Funds 06/30/04 14580 Sweep -329,863 1.380% 07/01/04 3,512,538 3,512,538 -329,863 -329,863
Wells Fargo-Comp Balance 06/30/04 12726931 MM 1,900,000 0.000% 07/01/04 1,900,000 1,900,000 1,900,000 1,900,000
Wells Fargo PPF 06/30/04 8184566092 MM 56,349,169 1.380% 07/01/04 62,627,466 62,627,466 56,349,169 56,349,169
JPMorgan Inst. MM 06/30/04 10219263.64 MM 183,969 1.020% 07/01/04 0 0 183,969 183,969
Total Pooled Investments: 58,103,275 68,040,004 68,040,004 58,103,275 58,103,275
Total Marketable Securities&Pooled Investments: 73,593,420 81,513,447 81,514,572 73,560,650 73,541,102
Patterson&Associates
City of Pearland, Texas
Quarterly Transaction Report
April 1, 2004 to June 30, 2004
PURCHASES:
Settle Sec Purchase Purch Purchase Purch Total
Fund Date CUSIP Type Par Coupon Maturity Price Yield Principal Accr/Int Settlement Broker Safekept
General Fund#010 04/19/04 3133X5WH7 FHCAL 1,000,000 1.445% 07/19/05 100.00 1.455%, 1,000,000.00� 0.00 1,000,000.00I Merrill Lynch TIB/Pearland State
1999 W&S Rev Bds#067 04/22/04 313589AG8 FNDN 1,000,000 0.000% 01/07/05 99.04 1.363% 990,394.44 0.00 990,394.44 Morgan Stanley TIB/Pearland State
2001-02 Mobility Bds#070 04/22/04 313397BQ3 FMCDN 1,000,000 0.000% 02/08/05 98.87 1.431% 988,685.00 0.00 988,685.00 Morgan Stanley TIB/Pearland State
Cert.of Obligation#068 04/22/04 313397DY4 FMCDN 1,000,000 0.000% 04/05/05 98.55 1.538% 985,500.00 0.00 985,500.00 Merrill Lynch TIB/Pearland State
Cert.of Obligation'98 05/25/04 700010728 CD 4,287,277 1.022% 07/01/04 100.00 1.022% 4,287,276.89 0.00 4,287,276.89 Pearland State TIB/Pearland State
Police Fund 05/27/04 68231N206 MM 184,000 0.980% Open 100.00 0.980% 184,000.00 0.00 184,000.00 JP Morgan JP Morgan
St.Assessment-Southfork 06/21/04 313589GC1 FNDN 145,000 0.000% 05/27/05 97.97 2.212% 142,058.43 0.00 142,058.43 Merrill Lynch TIB/Pearland State
MATURITIES AND COUPONS:
Payment Security Type of Coupon
Fund Date CUSIP Type Par Coupon Maturity Payment Payment Total
I I -1 I I I I I I I
Pooled 04/08/04 3128X1W78 FMCAL 2,000,000 1.300% 11/02/04 Called 13,000.00 2,013,000.00
Cert.of Obligation'98 05/25/04 700010635 CD 4,279,977 1.021% 05/25/04 Maturity 7,300.19 4,287,276.89
St.Assessment-Southfork 06/10/04 FC-624079-15 CD 141,492 1.650% 06/10/04 Maturity 2,341.02 143,833.19
• ^, PUBLIC FUNDS INVESTMENT ACT
Chapter 2256, Texas Government Code
Public Funds Investment Act of 1987(Article 842a-2, Vernon's Texas Civil Statutes), as amended by Acts of the 71st Legislature, Regular Session, 1989, Acts
of the 72nd Legislature, Regular Session, 1993, Acts of the 73rd Legislature, Regular Session 1995, and Acts of the 74th Legislature, Regular Session 1997.
Chapter 2256, Texas Government Code, is amended to conform to Section 1, Chapter 181, Section 1, Chapter 858, and to Section 1, Chapter 946, Acts of the
73rd Legislature, Regular Session, 1993, and amended to read as follows:
SUBCHAPTER A. AUTHORIZED INVESTMENTS FOR GOVERNMENTAL ENTITIES
Sec. 2256.023 INTERNAL MANAGEMENT REPORTS.
(a) Not less than quarterly, the investment officer shall prepare and submit to the governing body of the entity a written report of investment
transactions for all funds covered by this chapter for the preceding reporting period.
(b) The report must:
(1) describe in detail the investment position of the entity on the date of the report;
(2) be prepared jointly by all investment officers of the entity;
(3) be signed by each investment officer of the entity;
(4) contain a summary statement of each pooled fund group that states the:
(A) beginning market value for the reporting period;
(B) additions and changes to the market value during the period; and
(C) ending market value for the period;
(D.) fully accrued interest for the reporting period.
(5) state the book value and market value of each separately invested asset at the beginning and end of the reporting period by the type of
asset and fund type invested;
(6) state the maturity date of each separately invested asset that has a maturity date;
(7) state the account or fund or pooled fund group in the state agency or local government for which each individual investment was
acquired; and
(8) state the compliance of the investment portfolio of the state agency or local government as it relates to:
(A) the investment strategy expressed in the agency's or local government's investment policy; and
(B) relevant provisions of this chapter.
(c) The report shall be presented not less than quarterly to the governing body and the chief executive officer of the entity within a reasonable time
after the end of the period.