All local agencies are required to file reports on a quarterly basis with their legislative body on the status of their investment portfolio. The report must be submitted within 30 days after the end of the quarter.

The report includes all investments managed by the City of Sunnyvale and provides information on the values (par, book, and market), term, and yield of each security. Summary information by type of security and detailed information on each security is provided. An evaluation of portfolio performance this accounting period compared to the previous accounting period and compared to the same accounting period of last fiscal year is also included.

Short-term idle cash is invested primarily in over night Repurchase Agreements with our primary banking institution, Union Bank. Additional idle cash is invested in the State Treasurer Local Agency Investment Fund (LAIF) to meet the liquidity needs of the City.

Securities are priced at the end of every accounting period. In some cases, the City may have investments with a current market value that is greater or less than the recorded value. These changes in market value are due to fluctuations in the marketplace having no effect on yield, as the City does not intend to sell securities prior to maturity.

The market value is less than recorded value for this quarter due to changes in the market as mentioned in the previous paragraph.

That the City Council receive and file the investment report.

Prepared by:

Therese B. Balbo
Administrative Services Manager

Reviewed by:

Mary J. Bradley
Director of Finance

Approved by:

Robert S. LaSala
City Manager

1. City of Sunnyvale’s FY 1999/2000 Period 3 Investment Report