SAN BENITO COUNTY WATER DISTRICT

QUARTERLY INVESTMENT REPORT

QUARTER ENDING SEPTEMBER 30, 2000

 

 

Investment Account Balances:

 

Investment account balances at market value as of September 30, 2000 totaled $18,740,501.27; those same investment account balances at market value as of June 30, 2000 were $18,493,984.63. The yield at September 30, 2000 was 6.43%.

 

Portfolio Summary:

 

$14,765,188.61 is invested in the State of California Local Agency Investment Pool. The yield for the Quarter was 6.48%.

 

$1,085,034.11 is invested in Trusts managed by Morgan Stanley Dean Witter. The balance consists of an Active Assets Money Trust with a market value of $1,029,646.48 and a yield of 6.17% and an Active Assets Government Security trust with a market value of $55,387.63 and a yield 06.02%.

 

$1,821,259.38 is invested in U. S. Treasury Securities and $339,218.00 in Federal Agency securities. The market value of the U. S. Treasury Securities is $1,834,162.00 with a yield of 6.12% and an unrealized gain of $9,195.83. The market value of the Federal Agency Securities is $336,817.60 with a yield of 6.78% and an unrealized loss of $2,759.22.

 

$719,298.95 is invested in a Federated Treasury Obligation Fund managed by State Street Bank. The yield was 6.06%.

 

 

Liquidity Requirements:

 

Expenditure requirements for October 2000 through March 2001 are projected to be $3,070,156.25. The District's current two-month expenditure requirements are $1,120,756.25.

 

Assuming that there are no revenues generated during this period, there are adequate liquid reserves available in the L.A.I.F. account to fund projected expenditure requirements. The balance in the Morgan Stanley Dean Witter Active Assets Money Trust is sufficient to cover at least two current months of District expenses excluding debt service; however, it is not sufficient to cover two month periods that include debt service payments which are made in July and January. The total liquid funds exclusive of LAIF are sufficient to cover at least two current months' expenses including debt service.