AGENDA ITEM BACKGROUND
TO: GOVERNING BOARD
DATE
FROM: PRESIDENT
September 12, 2011
SUBJECT:
Quarterly Investment Report
REASON FOR BOARD CONSIDERATION
INFORMATION
ENCLOSURE(S)
ITEM NUMBER
Page 1 of 6
E.2
BACKGROUND:
The Quarterly Investment Report for the quarter ending June 30, 2011 is now presented to the Governing
Board.
The majority of Cabrillo’s cash is deposited with the Santa Cruz County Treasurer’s Office. A statement
of the Treasurer’s portfolio is attached.
The financial institution acting as trustee for the proceeds of Certificates of Participation bonds is the US
Bank. A summary of Cabrillo’s holdings there is attached.
Statements from two term-share (certificate) accounts purchased with Bay Federal Credit Union by the
Associated Students of Cabrillo (ASC) College fund are summarized and attached. A report of the ASC
savings account is also included.
The Cabrillo College Stage and the Cabrillo College Bookstore have money-market accounts with Bank of
America. A summary of their accounts is attached.
Administrator Initiating Item:
Roy Pirchio
Victoria Lewis
Academic and Professional Matter
If yes, Faculty Senate Agreement
Senate President Signature
 Yes  No
 Yes  No
Final Disposition
Santa Cruz County Treasurer's Portfolio
As of June 30, 2011
ISSUER
BOOK VALUE
U.S. Treasuries
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
US Treasury
10,002,726.74
12,995,829.17
15,008,047.02
9,995,043.06
13,005,186.26
15,008,512.64
10,988,320.12
14,979,820.85
15,063,139.87
11,994,728.32
9,495,233.00
19,068,818.01
13,191,470.29
14,016,027.03
15,029,516.34
17,972,532.24
13,974,353.70
15,161,162.32
15,000,509.51
13,061,562.88
10,965,830.43
0.67%
0.22%
0.68%
0.22%
0.84%
0.83%
0.28%
0.30%
0.35%
0.95%
0.95%
0.35%
0.33%
0.51%
0.44%
0.51%
0.53%
0.54%
0.63%
0.62%
0.89%
Total US Treasuries
$
U.S. Government Agencies
Federal Farm Credit Bank
Federal Home Loan Mortgage Corp.
Federal Farm Credit Bank
Federal Farm Credit Bank
Federal Farm Credit Bank
Federal Farm Credit Bank
Federal Home Loan Bank
Federal Home Loan Mortgage Corp.
Federal Farm Credit Bank
Federal Home Loan Bank
Federal Farm Credit Bank
Federal National Mortgage Association
Federal Farm Credit Bank
Federal Home Loan Bank
Federal Home Loan Bank
Federal Home Loan Bank
Federal Home Loan Mortgage Corp.
Federal Farm Credit Bank
285,978,369.80
0.54%
10,999,811.43
8,997,180.00
10,994,118.06
9,992,777.78
12,992,664.29
12,000,813.33
12,990,162.07
13,000,000.00
9,993,263.31
9,979,822.22
11,805,339.41
14,012,740.95
14,987,000.00
14,991,487.50
14,234,149.54
16,993,255.09
14,020,486.67
12,000,000.00
1.25%
0.25%
0.26%
0.26%
1.01%
0.94%
1.21%
0.50%
0.45%
0.33%
0.77%
0.73%
0.75%
0.73%
0.76%
1.02%
0.99%
1.15%
Total Government Agencies
Medium Term Notes
General Electric
$
224,985,071.65
0.77%
12,088,031.88
1.18%
Total Medium Term Notes
Bank of the West
Bank of the West Checking
$
12,088,031.88
1.18%
7,830,493.75
0.60%
Total Bank of the West
Money Market Mutual Funds (3)
Fidelity Institutional Cash
Bank of the West Money Market
$
7,830,493.75
0.60%
7,000,000.00
0.20%
0.35%
Total Money Market Mutual Funds
Miscellaneous Investments
LAIF
Teeter Loan / Santa Cruz Auditor
$
7,000,000.00
0.35%
5,053,579.12
17,000,000.00
0.48%
0.25%
22,053,579.12
0.30%
559,935,546.20
0.64%
Total Miscellaneous Investments
GRAND TOTAL
.
$
PAR VALUE
YIELD
MARKET VALUE (1)
10,000,000.00
13,000,000.00
15,000,000.00
10,000,000.00
13,000,000.00
15,000,000.00
11,000,000.00
15,000,000.00
15,000,000.00
12,000,000.00
9,500,000.00
19,000,000.00
13,000,000.00
14,000,000.00
15,000,000.00
18,000,000.00
14,000,000.00
15,000,000.00
15,000,000.00
13,000,000.00
11,000,000.00
$
285,500,000.00
$
11,000,000.00
9,000,000.00
11,000,000.00
10,000,000.00
13,000,000.00
12,000,000.00
13,000,000.00
13,000,000.00
10,000,000.00
10,000,000.00
11,810,000.00
14,000,000.00
15,000,000.00
15,000,000.00
14,000,000.00
17,000,000.00
14,000,000.00
12,000,000.00
$
224,810,000.00
$
12,000,000.00
$
12,000,000.00
$
7,830,493.75
$
7,830,493.75
$
7,000,000.00
$
7,000,000.00
$
5,053,579.12
17,000,000.00
$
22,053,579.12
559,194,072.87
$
% of
% ALLOWED
PORTFOLIO
10,007,800.00
12,999,740.00
15,023,400.00
9,999,400.00
13,030,420.00
15,045,750.00
10,997,690.00
14,994,450.00
15,080,850.00
12,052,560.00
9,545,980.00
19,091,960.00
13,203,580.00
14,054,740.00
15,061,500.00
18,025,223.97
14,016,967.54
15,206,250.00
15,054,359.51
13,095,694.36
11,052,470.00
1.79%
2.32%
2.68%
1.79%
2.32%
2.68%
1.96%
2.68%
2.69%
2.14%
1.70%
3.41%
2.36%
2.50%
2.68%
3.21%
2.50%
2.71%
2.68%
2.33%
1.96%
286,640,785.38
51.07%
11,003,630.00
8,999,730.00
10,999,340.00
9,998,800.00
13,042,900.00
12,053,400.00
13,092,430.00
13,003,380.00
10,002,000.00
9,992,400.00
11,868,695.70
14,080,546.67
15,060,300.00
14,992,350.00
14,302,680.00
17,021,080.00
14,023,240.00
12,057,960.00
PURCHASE
DATE
MATURITY
DATE
CREDIT
RATING (2)
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
01/14/10
11/18/10
03/16/10
10/28/10
11/04/09
01/14/10
11/18/10
12/16/10
01/07/11
04/05/10
04/19/10
03/10/11
04/15/11
12/30/10
01/12/11
03/07/11
04/08/11
04/08/11
05/02/11
05/25/11
09/15/10
07/31/11
08/25/11
08/31/11
09/22/11
09/30/11
10/31/11
11/17/11
12/15/11
01/15/12
01/31/12
02/29/12
05/31/12
06/15/12
06/30/12
07/31/12
08/31/12
09/30/12
10/15/12
04/30/13
08/15/13
09/15/13
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
1.96%
1.61%
1.96%
1.78%
2.32%
2.14%
2.32%
2.32%
1.78%
1.78%
2.11%
2.50%
2.68%
2.68%
2.54%
3.03%
2.50%
2.14%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
08/03/09
12/23/10
11/18/10
10/14/10
12/15/09
03/05/10
04/14/10
10/29/10
11/08/10
02/17/11
01/24/11
03/24/11
03/25/11
11/22/10
04/29/11
11/18/10
06/09/11
05/12/11
07/13/11
08/17/11
09/16/11
10/13/11
12/09/11
03/05/12
05/18/12
10/29/12
11/02/12
02/13/12
02/19/13
02/26/13
03/25/13
05/22/13
06/14/13
11/18/13
12/09/13
05/12/14
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
AAA
225,594,862.37
40.18%
100%
12,172,440.00
2.16%
10%
11/24/09
03/12/12
AAA
12,172,440.00
2.16%
30%
7,830,493.75
1.40%
-
-
NR
7,830,493.75
1.40%
10%
7,000,000.00
0.00%
1.25%
10%
10%
7,000,000.00
1.25%
5,053,579.12
17,000,000.00
0.90%
3.04%
22,053,579.12
3.94%
561,292,160.62
100%
(1) Market Value pricing derived from Union Bank safekeeper (custodial bank).
(2) Split ratings reflected (S&P / Moodys). If only one rating is posted for a security it is from both Moodys and Standard and Poors.
(3) Money Market Mutual Fund balances do not include current month interest.
NR
NR
NR
County of Santa Cruz Investment Pool
Portfolio Net Yield
As of June 30, 2011
Month
Apportionment Rate
County
LAIF
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
0.850%
0.930%
0.980%
0.844%
0.863%
0.782%
0.760%
0.806%
0.739%
0.721%
0.721%
0.773%
0.684%
0.643%
0.688%
0.661%
0.644%
0.544%
0.507%
0.523%
0.505%
0.497%
0.538%
0.583%
0.900%
0.900%
0.900%
0.600%
0.600%
0.600%
0.560%
0.560%
0.560%
0.560%
0.560%
0.560%
0.510%
0.510%
0.510%
0.460%
0.460%
0.460%
0.510%
0.510%
0.510%
0.480%
0.480%
0.480%
Net Yield Trend
1.20%
1.00%
0.80%
0.60%
0.40%
0.20%
0.00%
County
LAIF
Difference
-0.05%
0.03%
0.08%
0.24%
0.26%
0.18%
0.20%
0.25%
0.18%
0.16%
0.16%
0.21%
0.17%
0.13%
0.18%
0.20%
0.18%
0.08%
0.00%
0.01%
-0.01%
0.02%
0.06%
0.10%
CABRILLO COLLEGE ASSET VALUATION FOR 1998 COP BONDS
As of June 30, 2011
US BANK
633 West Fifth Street, 24th Floor
Los Angeles, California 90071
Description
Reserve Fund
100883-010
Lease Payment
100883-001
TOTAL ACCOUNTS
Cost
Market Value
Yield on
Market
Accrued
Income
Estimated
Income
346,500.00
346,500.00
0
0
0
3.48
3.48
0
0
0
$346,503.48
$346,503.48
0
0
0
ASSOCIATED STUDENT CABRILLO COLLEGE FUND
Term Share (Certificate) Accounts with Bay Federal Credit Union
As of June 30, 2011
Term Share Certificate Account Number 11034295
Issued on May 25, 2008
Dividend Rate 0.539%
Matures on May 24, 2012
Prinicpal Amount $6,000
Term Share Certificate Account Number 11028081
Issued on March 18, 2008
Dividend Rate 0.400%
Matures on March 21, 2012
Principal Amount $10,020.24
Savings Account 10641744 with Bay Federal Credit Union
Dividend Rate for Quarter Ending .100%
Beginning Balance April 1, 2011
Deposits
Interest Transferred from 11028081
Interest Transferred from 11034295
Interest Transferred from 10641744
Ending Balance June 30, 2011
$29,854.12
$0.00
9.98
8.04
7.45
$29,879.59
BANK OF AMERICA ACCOUNTS
Cabrillo College Student Center
Time Deposit Account 01765-55173
Beginning Balance April 1, 2011
117,954.87
Withdrawals
0
Additions to Investment
0
Interest Reinvested
Ending Balance June 30, 2011
117.69
118,072.56
Cabrillo College Student Center
Business Checking Account 01765-01733
Beginning Balance April 1, 2011
Withdrawals
Additions to Investment
Interest Reinvested
Ending Balance June 30, 2011
675,446.42
0
0.00
0
675,446.42