ODESSA COLLEGE. QUARTERLY INVESTMENT REPORT For the Quarter Ended February 28, 2014 AS REQUIRED BY THE TEXAS PUBLIC FUNDS INVESTMENT ACT
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1 ODESSA COLLEGE QUARTERLY INVESTMENT REPORT For the Quarter Ended February 28, 2014 AS REQUIRED BY THE TEXAS PUBLIC FUNDS INVESTMENT ACT I. Investment Position by Pooled Fund Group II. III. IV. Quarter End Results by Investment Category Diversity by Type and Maturity Investment Holdings Report V. Statements of Compliance
2 ODESSA COLLEGE I. INVESTMENT POSITION BY POOLED FUND GROUP QUARTER ENDING FEBRUARY 28, 2014 Beginning Investment Market Ending Market Value Additions Value Market Value Dec 1, 2013 (Deductions) Appreciation Feb 28, 2014 INVESTMENT POOL A: Current Unrestricted Funds $17,988,455 11,285,574 (39,545) 29,234,484 Current Restricted Funds 431,538 (18,643) (558) 412,337 Endowment Fund 842,629 3,647 (1,143) 845,133 Agency Funds Held for Others 154,985 30,443 (250) 185,178 19,417,607 11,301,021 (41,496) 30,677,132 INVESTMENT POOL B (DEBT SERVICE): Rev. Bond Interest & Sinking Fund , , ,396 Rev. Bond Debt Service Reserve 2,514, ,515,527 Rev. Bond Int & Sinking Fund ,354 (7,139) - 256,215 Tax Bond Int & Sinking Fund 139, , ,894 2,963, , ,898,032 INVESTMENT POOL C (TAX BOND): Unexpended Bond Funds 31,139,038 (9,706,089) (98,859) 21,334,090 31,139,038 (9,706,089) (98,859) 21,334,090 ALL FUNDS 53,520,305 2,528,326 (139,377) 55,909,254
3 ODESSA COLLEGE II. END OF QUARTER VALUES BY INVESTMENT CATEGORY November 30, 2013 February 28, 2014 Estimated Book Value Market Value Book Value Market Value Avg. Yield Asset Type Public Funds Pools 10,849,703 10,849,703 11,576,372 11,576, % Money Market & Interest Checking 13,520,483 13,520,483 19,868,113 19,868, % Certificates of Deposit 8,217,000 8,301,807 8,217,000 8,305, % Government Agency Securities 4,582,002 4,588,330 3,512,900 3,539, % Municipal Bonds 8,489,813 8,177,996 6,352,136 6,108, % Corporate Bonds 8,454,072 8,081,986 6,879,075 6,510, % Totals 54,113,073 53,520,305 56,405,597 55,909, %.. Annualized Performance Weighted Average Maturity (W.A.M.) 199 days Total Portfolio Annualized Yield (Estimated) 0.51% Benchmark Yield - 1 year Treasury Note 0.16% This Quarter Fiscal Year Interest Income Operating Funds (Pool A) $ 70,278 $ 145,116 Debt Service Funds (Pool B) 7,158 11,879 Construction Funds (Pool C) 104, ,882 $ 182,416 $ 428,877 Gains/(Losses) on Sales & Maturities Operating Funds (Pool A) $ (7,688) $ (7,688) Debt Service Funds (Pool B) - - Construction Funds (Pool C) - - $ (7,688) $ (7,688) Unrealized Changes in Market Value Operating Funds (Pool A) $ (41,496) $ (80,084) Debt Service Funds (Pool B) ,709 Construction Funds (Pool C) (98,859) (203,471) $ (139,377) $ (259,846)
4 ODESSA COLLEGE III. DIVERSITY REPORT QUARTER ENDING FEBRUARY 28, 2014 $22 $20 $18 INVESTMENT HOLDINGS BY SECURITY TYPE $16 DIVERSITY BY SECURITY TYPE: USG U.S. Govt Agencies 3,539, % PIP Public Investment Pools 11,576, % CD Certificates of Deposit 8,305, % MB Municipal Bonds 6,108, % MMA Money Market Funds 19,868, % CB Corporate Bonds 6,510, % $55,909, %. $ Millions (FMV) $14 $12 $10 $8 $6 $4 $2 $0 USG PIP CD MB MMA CB $50 DIVERSITY BY MATURITY 0-1 year 47,530,753 85% 1-2 years 3,894,157 7% 2-3 years 980,157 2% 3-5 years 3,504,187 6% $55,909, %. $ Millions (FMV) $45 $40 $35 $30 $25 $20 $15 78% INVESTMENT HOLDINGS BY MATURITY $10 $5 $0 2% 17% 3% 0-1 year 1-2 years 2-3 years 3-5 years
5 ODESSA COLLEGE IV. INVESTMENT HOLDINGS REPORT QUARTER ENDING FEBRUARY 28, 2014 Fund/ Maturity Yield/ Ending Ending Purpose Description Date YTM Par Value Price Book (Cost) Market Value Public Funds Investment Pools Pooled Operating TexPool General 3/1/ % 66, ,834 66,834 Pooled Operating TexPool Prime 3/1/ % 329, , ,894 Pooled Operating Lone Star Government Overnight 3/1/ % 42, ,504 42,504 Pooled Operating Lone Star Corporate Overnight Plus 3/1/ % 35, ,109 35,109 Pooled Operating LOGIC - Liquid Asset Fund 3/1/ % 2,798, ,798,603 2,798,603 Debt Service TexPool Prime 2009 I & S 3/1/ % 675, , ,396 Debt Service TexPool Prime /1/ % 20, ,178 20,178 Debt Service TexPool Prime /1/ % 256, , ,215 Debt Service TexPool Prime Tax Bond 3/1/ % 450, , ,894 Bond Construction TexPool Prime 3/1/ % 49, ,676 49,676 Bond Construction Lone Star Corporate Overnight Plus 3/1/ % 5,292, ,292,358 5,292,358 Bond Construction LOGIC - Liquid Asset Fund 3/1/ % 1,558, ,558,711 1,558,711 TOTAL - PUBLIC FUNDS INVESTMENT POOLS 11,576,372 11,576,372 11,576,372 Money Market & Interest Checking Pooled Operating Compass Interest Bearing Depositor 3/1/ % 13,578, ,578,575 13,578,575 Pooled Operating Compass MMA 3/1/ % 55, ,167 55,167 Pooled Operating ASB Business Elite Savings 3/1/ % 2,267, ,267,387 2,267,387 Bond Construction Compass Interest Bearing Depositor 3/1/ % 3,966, ,966,984 3,966,984 TOTAL - MONEY MARKET FUNDS 19,868,113 19,868,113 19,868,113 Certificates of Deposit Pooled Operating Prosperity Bank 10/15/ % 500, , ,843 Pooled Operating Prosperity Bank 4/15/ % 249, , ,336 Pooled Operating Prosperity Bank 4/14/ % 1,000, ,000,000 1,063,558 Pooled Operating Prosperity Bank 10/10/ % 2,000, ,000,000 2,016,097 Pooled Operating Compass Bank 2/1/ % 5, ,000 5,000 Pooled Operating Ally Bank 10/19/ % 249, , ,000 Pooled Operating Cathay Bank 6/30/ % 249, , ,000
6 Fund/ Maturity Yield/ Ending Ending Purpose Description Date YTM Par Value Price Book (Cost) Market Value Debt Service Doral Bank 12/8/ % 240, , ,000 Debt Service Discover Bank 10/9/ % 245, , ,000 Debt Service BMW BK North 10/11/ % 245, , ,000 Debt Service Goldman Sachs Bk New York 10/11/ % 245, , ,000 Bond Construction Compass Bank 9/1/ % 250, , ,000 Bond Construction Western National Bank 3/22/ % 250, , ,256 Bond Construction Independence Bank of KY 6/27/ % 249, , ,116 Bond Construction Georgia B&T 6/27/ % 249, , ,613 Bond Construction Barclays Bank DE 12/8/ % 249, , ,703 Bond Construction Legacy Bank 12/16/ % 249, , ,161 Bond Construction Cardinal Bank 1/13/ % 249, , ,320 Bond Construction Orrstown Band 9/22/ % 249, , ,000 Bond Construction Valley National Bank 7/28/ % 249, , ,495 Bond Construction Apple Bk 1/9/ % 249, , ,391 Bond Construction Safra Natl Bank 1/15/ % 249, , ,360 Bond Construction Town North Bank 2/26/ % 249, , ,714 TOTAL - CERTIFICATES OF DEPOSIT 8,217,000 8,217,000 8,305,963 U.S. Govt Agencies Pooled Operating Federal Home Ln Mtg Corp 2.75% 3/13/ % 1,000, ,005,900 1,026,297 Pooled Operating Federal Natl Mtg Assn 2.625% 11/20/ % 1,000, ,007,000 1,017,963 Debt Service Federal Natl Mtg Assn Step Up.70 12/13/ % 1,500, ,500,000 1,495,352 TOTAL - GOVERNMENT AGENCIES 3,500,000 3,512,900 3,539,612 Municipal Bonds Pooled Operating Dahlonega Development 7/1/ % 200, , ,156 Pooled Operating Municipal Power Agency 9/1/ % 525, , ,001 Pooled Operating Ector County Texas 9/18/ % 250, , ,700 Pooled Operating Midland Hospital 5/15/ % 300, , ,371 Pooled Operating Houston Texas 3/1/ % 675, , ,464 Bond Construction Clark Cnty NV Sch Dist Ref-Ser B 6/15/ % 665, , ,064 Prim/Secndry Ed Bond Construction Kansas City Missouri Indl Dev 4/1/ % 470, , ,499 Bond Construction New Jersey Sports & Exposition 3/1/ % 675, , ,000
7 Fund/ Maturity Yield/ Ending Ending Purpose Description Date YTM Par Value Price Book (Cost) Market Value Bond Construction FOREST PK ILLINOIS LTD REF 11/1/ % 285, , ,605 CTFS REV SER 2011 GEN PURP IMPT Bond Construction TAMPA FLA SOLID WASTE SYS 10/1/ % 320, , ,560 REV SERIES 2010 SANITATION Bond Construction LAREDO TEX INTL TOLL BRDG 3/1/ % 165, , ,883 REV BNDS SERIES 2005 B FSA INS Bond Construction Kentucky St TPK Auth 7/1/ % 500, , ,230 EconomicDev Rd Rev Series 2010A Bond Construction Minneapolis-Saint Paul MN 1/1/ % 610, , ,701 Metarpts Commission ARPT Re Airports Bond Construction Fort Worth Tex Ind School Dist 2/15/ % 350, , ,016 TOTAL - MUNICIPAL BONDS 5,990,000 6,352,136 6,108,250 Corporate Bonds Pooled Operating General Elec Capital Corp 11/14/ % 2,000, ,138,010 2,047,129 Pooled Operating General Elec Capital Corp 9/15/ % 1,000, ,170,003 1,089,142 Bond Construction Westpac Banking SRNT 2/27/ % 200, , ,588 Bond Construction General Elec Capital Corp SRNT 5/13/ % 1,000, ,104,700 1,010,577 Bond Construction General Elec Capital Corp SRNT 11/14/ % 1,000, ,069,000 1,023,565 Bond Construction De Kalb Cnty GA Wtr 10/1/ % 600, , ,104 Bond Construction Genzyme Corp Srnt 6/15/ % 500, , ,839 TOTAL - CORPORATE BONDS 6,300,000 6,879,075 6,510,944 Grand Total 55,451,485 56,405,597 55,909,254
8 ODESSA COLLEGE V. STATEMENTS OF COMPLIANCE OF INVESTMENT PORTFOLIO QUARTER ENDING FEBRUARY 28, 2014 Statement 1: Compliance with investment strategies of the District. As evidenced by the market valuations and maturities described in this report, the investments of the District for the quarter ending February 28, 2014 comply with the investment objectives and strategies as expressed in the Odessa Junior College District Investment Policy. The investment objectives, in order of priority, are: a. Preservation and Safety of Principal b. Liquidity c. Maturity d. Portfolio Diversification e. Yield f. Investment Suitability Statement 2: Investment Strategies for the next quarter: Current, Loan, Endowment, and Agency Funds: These funds are pooled together and invested to assure adequate liquidity for cash flows. To accomplish this, the District will continue to invest in public funds investment pools, daily liquidity money market funds, short- to medium-term government agencies, high-quality dual-rated commercial paper, and/or certificates of deposit. Unexpended Bond Proceeds: At the end of this quarter, the unexpended 2011 General Obligation Bond proceeds were invested in Texas public funds investment pools, certificates of deposit, commercial paper, short-to medium-term government agencies, municipal bonds, and corporate bonds. The funds are invested to match projected liquidity and spending needs. No funds will be invested in instruments with maturities exceeding the expected construction schedule. Bond Debt Service Interest & Sinking Funds: Interest and sinking funds are set aside on a monthly basis and invested in a separate TexPool account until the semi-annual debt service payments are made in June and December.
9
QUARTER ENDED FEBRUARY 28, 2014
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