8-27-10 memos
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1.0 Cent 2.0 Cents 3.0 Cents 4.0 Cents 4.93 Cents
$8,040,548 $16,081,096 $24,121,644 $32,162,192 $39,639,902
Possible Restorations to the Proposed FY11 Budget
Park Maintenance
Park Mowing $1,350,000 $1,350,000 $1,350,000 $1,350,000 $1,350,000 $1,350,000
Litter Pickup and Removal $1,080,000 $1,080,000 $1,080,000 $1,080,000 $1,080,000 $1,080,000
Graffiti Removal $350,000 $350,000 $350,000 $350,000 $350,000 $350,000
Port O Let Rentals and Drinking Fountains $350,000 $350,000 $350,000 $350,000 $350,000 $350,000
Ballfields and Security Lighting $500,000 $500,000 $500,000 $500,000 $500,000 $500,000
Forestry Crews $500,000 $500,000 $500,000 $500,000 $500,000 $500,000
Irrigation System Maintenance/PM/Amenity Replacements $870,000 $870,000 $870,000 $870,000 $870,000 $870,000
Additional Weekend Litter Cycle $250,000 $250,000 $250,000 $250,000 $250,000
Pesticide Application $250,000 $250,000 $250,000 $250,000 $250,000
Recreation Centers
Fully Restores to 50 hrs/wk @ 37 Large Centers; 40hrs/wk @ 6 Small Centers $500,000 $500,000 $500,000 $500,000 $500,000 $500,000
StreetsStreet Maintenance $12,300,000 $1,540,548 $5,297,452 $12,300,000 $18,250,000 * $24,600,000 *
Traffic signals/street markings
Emergency Signal Response Crews $1,300,000 $425,000 $800,000 $800,000 $1,300,000 $1,300,000
Crosswalk Striping $75,000 $75,000 $75,000 $75,000 $75,000 $75,000
Street Lane Striping $250,000 $250,000 $250,000 $250,000 $250,000
Trafffic Safety & Congestion Mgmt $957,000 $520,000 $520,000 $957,000 $957,000
Traffic Signs $512,000 $338,644 $338,644 $512,000 $602,902
Libraries
Materials to FY07 peak level $2,800,000 $500,000 $2,800,000 $2,800,000 $2,800,000 $2,800,000
Branch Libraries staffing $2,112,000 $1,038,000 ** $1,075,192 ** $2,112,000 **
Central Library 40 hours all floors $943,000 $943,000 $943,000
Total $27,249,000 $8,040,548 $16,081,096 $24,121,644 $32,162,192 $39,639,902
Assumes Recreation Centers funding is restored with $1m donation
*4.0 and 4.93 Cent Options restore the FY10 Street Maintenance reduction
**3.0 Cent Option restores 41 pages to Library Branches; 4.93 Cent Option restores Branch and Central libraries' staffing to FY10 level
Tax Rate
Change
Tax
Revenue
Tax Rate Change
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Memorandum
DATE August 27, 2010
TO Honorable Mayor and Members of the City Council
SUBJECT Elgin B. Robertson Park
At the August 18, 2010 briefing, there were questions regarding Elgin B. RobertsonPark. The following is a brief response.
The park was purchased with bond funds in 1966 and immediately designated as parkland. It is located approximately 10 miles outside the main limits of Dallas andoccupies 257 acres of land. Due to its location, Dallas residents get little benefit either
through revenue generation or through recreation use (88% of park visitors liveoutside the City of Dallas).
In September 2008, the Economic Development Committee was briefed on optionsrelated to the future development of Elgin G. Robertson Park as well as the stepsneeded to make the site available for development. The options included improvingrecreational uses, selling the land to a private developer, and entering into acooperative agreement with another city.
In the past, the City has been approached by developers interested in developing theland. Additional information on previous offers for development is included in theattached briefing. More recently, during budget brainstorming briefings to Councilgiven on January 20, 2010 and May 19, 2010, staff proposed options for Elgin B.Robertson Park as a strategy for increasing revenue. Options related to the sell orlease of the park were also presented on August 9, 2010 in the City Managersproposed budget.
In accordance with state law, selling the park requires a public referendum and anyproceeds from the sale of the park land can be used only to acquire park property orfor capital improvements on park property. The amount of money brought in by thesale of the park would be determined by independent appraisals and could varybased on what proposals are received The Parks department does not have a
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In the event the City chooses not to sell the property, the park would likely remain asopen space with minimal maintenance and development limited to accommodate boataccess to the lake. As requested by the Council, the City Attorneys office is analyzingwhether the authority to sell park land, if granted by the citizens, ever lapses.
Please let me know if you have further questions.
A.C. Gonzalez
Assistant City Manager
Attachment
c: Mary K. Suhm, City ManagerThomas P. Perkins, Jr., City AttorneyDeborah Watkins, City SecretaryCraig Kinton, City AuditorJudge C. Victor Lander, Administrative JudgeRyan S. Evans, First Assistant City ManagerJill A. Jordan, P.E., Assistant City ManagerForest E. Turner, Assistant City ManagerJeanne Chipperfield, Chief Financial OfficerEdward Scott, Director, Controllers Office
Helena Stevens-Thompson, Assistant to the City Manager - Council Office
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Elgin B. Robertson Park
Economic DevelopmentCommittee Briefing
September 2, 2008
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Purpose of Briefing To update the Committee on the status of
Elgin B. Robertson Park as it relates tofuture development for the City of Dallas
Outline the costs for the future
development of each tract of the Park Review related issues with the property
Recommend action to move forward with
development to be revenue positive forthe City
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Elgin B. Robertson Park North
Approximately 142 Acres
Elgin B. Robertson Park South
Approximately 115 Acres
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Background Elgin B. Robertson Park was
acquired in 1966 as part of theForney Reservoir development(now known as Lake RayHubbard)
The park was purchased
with Dallas Parks andRecreation Department bondfunds.
The land was immediatelydesignated park upon
purchase This 257 acre park site is
located approximately 10 milesoutside of the main limits ofDallas
Elgin B. Robertson Park
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Background Elgin Robertson Park is divided by Interstate 30
into two separate tracts
The north tract of 142 acres
The south tract of 115 acres
Normal lake level is 435.5 feet
Dallas Water Utilities maintains control of the
water levels up to 440.5 feet
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Options Because of its location, the City has been
approached several times by privatedevelopers and neighboring Citiesseeking to privately develop the land
Dallas has 3 options with regard to ElginB. Robertson parkOption A: Maintain as park and explore possibilities for
better recreational uses
Option B: Sell land to private developer and provide fulllevel of services with City of Dallas personnel
Option C: Enter into a cooperative agreement withanother city
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Private Development A sale of park land requires a public referendum
Sale proceeds are required to be used for park systemimprovements
Proceeds cannot be used to directly offset or maintaingeneral service costs for the park
Distance from the rest of the City of Dallas has
raised site development and operational costs Development would require extension of
sufficient water and waste water service
DWU has suggested that any and all developmentbe made at or above 441 feet to avoid majorflooding, thus decreasing developable area
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Private Development Even with challenges city should explore
achieving a higher and better use for theland
City of Dallas residents get little benefit
either through recreational use or revenuegeneration
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Current Park Status
Park land 257 acres Marina located on south tract
Few Dallas residents utilize the park 88% of visitors of the park live outside of the City of
Dallas
Parks User Survey was conducted in 2005
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Appraisal Value The Economic Development Committee was
briefed on the potential sale of the property onAugust 16, 2005 and April 17, 2006
A Property appraisal completed in July 2006
North tract - 142 acres
With Utilities: $18.8 million
Without Utilities: $13.9 million
South tract - 115 acres:
With Utilities: $15.0 million
Without Utilities: $10.0 million
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Past Efforts In 2005, Rowlett offered $15 million for
both tracts and a 20 year tax sharingagreement
City of Dallas declined the offer
City explored the sale to privatedevelopers
RFP was issued
City did not move forward
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Past Planning Master plan was developed for Rowlett by
RTKL Associates Inc. North tract was most feasible for
residential development
Narrow Bordered by residential neighborhood
South tract was most feasible for mixed
use Attractive location
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Moving Forward Rowlett has again approached the City of
Dallas in effort to develop park Discussions addressed difficulty in Dallas
providing services to park due to remote
location Rowlett expressed interest primarily in
north tract to have control over land use
decisions for area contiguous to existingneighborhoods
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Development Assumptions Development scenarios assume residential
development on north tract Average home value at $300,000
Average build out of 75 units per year for a total of 500
Mixed use development on south tract includes
1,700 residential units, office, retail, and hotelmix
All property value growth at 7%
Development costs include full service and City of
Dallas infrastructure improvements Does not include utility improvements which
would be assumed by developer
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Development Assumptions Do not include sales proceeds in revenue
estimates Include debt service costs for
infrastructure including facilities, e.g. fire
station City Services costs include 3% inflation
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Option B: Dallas DevelopmentOption B: City of Dallas Development
Elgin B. Robertson Park
Costs North Tract South Tract Total Park
Improvements:Streets & Bridges $2,224,167 $1,803,071 $4,027,238
Capital & Service Costs:Fire Station $6,000,000 $6,000,000Fire O & M $9,578,633 $32,567,351 $42,145,984
Police O & M $7,577,366 $22,287,712 $29,865,078
Municipal Services** $6,324,832 $21,846,790 $28,171,622**Municipal services include parks, recreation, library, etc.
Total Costs $31,704,998 $78,504,924 $110,209,922
Average Annual Cost* $5,510,496
*based on 20 year Build Out
RevenuesResident ial Ad Valorem Taxes $18,800,453 $34,275,347 $53,075,800
Commercial Ad Valorem Taxes $12,095,406 $24,189,834 $36,285,240Sales Tax $3,546,000 $7,092,000 $10,638,000
Total Revenues $34,441,859 $65,557,181 $89,361,040
Net Return -$20,848,882
*based on 20 year Build Out
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Option B:City of Dallas Development
Annual Total Costs
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year
Am
ount
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Option B:
City of Dallas Development
Annual Total Revenues
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
$10,000,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year
Am
ount
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Option B: Dallas Development
Pros Dallas Park system benefits from sale of park land sale
proceeds cannot contribute directly to offset servicecosts
Land area remains in City of Dallas tax base
Cons Sale requires voter approval Significant challenges remain with regard to utility
service
Dallas incurs negative return of approximately $8 million
over 20 year period Additional service and infrastructure costs will continue
to rise
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Option C: Cooperative Development
Rowlett is willing to assist in service
provisions for sale and control of northtract
Area buffers residential neighborhoods
Maintains access and view to Lake RayHubbard
Contiguous to greater part of Rowlett
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Option C: Cooperative Development
For sale and control of north tract, Rowlett
will provide: 1st response police and fire
New fire station recently built
Library and Recreation services to COD any residents
on South Tract Total Value of Services: $48 Million
Rowlett to provide utility connections to south tract innecessary capacity for Development
Dallas and Rowlett will sign an interlocalagreement for services
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Option C: Cooperative Development
City of Dallas & Rowlett will jointly issue
RFP for 2 appraisals Appraisal instructions to appraise value athighest & best use with utilities
Average of both appraisals will be thesales price of the north tract
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Option C:
Cooperative Agreement Development
COD's Annual Total Costs
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
$5,000,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year
Amount
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Option C: Cooperative Development
Pros
Dallas Park system benefits from sale of park land
South tract remains in City of Dallas tax base
Service delivery will be minimal and scaled todevelopment
Even if development does not meet projections, Dallas haslow investment
City realizes positive revenue returns
Cons
Needs voter approval for south tract sale Loss of 142 acres of Dallas tax base
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Option C: Cooperative Development
Costs
Improvements:
Streets & Bridges
Capital & Service Costs:
Fire StationFire/Police O & M
Municipal Services**
**Municipal services include parks, recreation, library, etc.
Total Costs
Average Annual Cost**based on 20 year Build Out
RevenuesResident ial Ad Valorem Taxes
Commercial Ad Valorem TaxesSales Tax
Total Revenues
Net Return*based on 20 year Build Out
$65,557,181
$19,619,608
$45,937,573
$34,275,347
$24,189,834$7,092,000
$2,296,879
Option C: Cooperative Agreement Development
Elgin B. Robertson Park
Total Park
$1,803,071
$22,287,712$21,846,790
N/A
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Elgin B. Robertson Park Development:Comparison of Scenario Annual Costs
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
$10,000,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year
Amou
nt
City of Dallas Development Cost Cooperative Agreement Development Cost
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Elgin B. Robertson Park Development:Comparison of Scenario Annual Revenues
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
$10,000,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year
Amount
City of Dallas Development Total Revenue Cooperative Agreement Development Total Revenue
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Elgin B. Robertson Park Development:
Comparison of Scenario Total Net Return
(Revenue - Service Cost)
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000$5,000,000
$6,000,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year
Amo
unt
City of Dallas Development Net Return Cooperative Agreement Development Net Return
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Additional Issues Sale of park land must be authorized by voters
North tract can be sold to Rowlett without election
Existing marinas have contract ending in 2010
Leaseholder has requested 10-year extension of lease City has not agreed
Value of land may have decreased due to poorreal estate market
Dallas Morning News reported June 2007 to June 2008home prices were down 3.2% in Dallas area
Rowlett/Sachse home sales were down 16% but medianprice rose by 3%
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Recommendation Enter into cooperative development
agreement with City of Rowlett Negotiate inter-local agreement for service
provision
Begin appraisal process to determine currentvalue for both tracts
Place on May ballot for voter approval to selltracts
Bring final interlocal agreement and sale priceback to City council for approval
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City of Dallas
Cash and Investment Summary
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June 30, 2010
06/30/10 03/31/10 Net Change
Face Value 1,606,414,677$ 1,883,350,199$ (276,935,522)$Book Value 1,626,301,915 1,910,288,382 (283,986,467)
Market Value 1,631,986,186 1,916,293,114 (284,306,928)
Accrued Interest 14,420,090 11,261,740 3,158,350
Cash Value 1,646,406,275 1,927,554,854 (281,148,579)
Unrealized Gain (Loss) 5,684,271 6,004,732 (320,461)
Weighted Average Maturity (days) 236 281 -45
Buy Yield 1.28% 1.28% 0.00%
Cash and Investments by Type Book Value % of Portfolio
U.S. Government Treasury Securities 76,190,303$ 4.68%
U.S. Government & Agency Securities
Federal Farm Credit Bank (FFCB) 329,073,419 20.23%
Federal Home Loan Bank (FHLB) 376,358,434 23.14%
Federal Home Loan Mortgage Corporation (FHLMC) 453,226,233 27.87%
Federal National Mortgage Association (FNMA) 316,849,849 19.48%
Total U.S. Government & Agency Securities 1,475,507,935$ 90.73%
Portfolio Summary
Investment Summary by Type
Local Government Investment Pool (TexPool) 43,346,534$ 2.67%
Money Market Mutual Funds 31,257,143$ 1.92%
Total Investments 1,626,301,915$ 100.00%
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City of Dallas, Texas
Investment Summary by Security Type & Agency Issuer
For the quarter ending June 30, 2010
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q g ,
By Security Type Face Value Book Value Market Value*UnrealizedGain(Loss)
Weighted AverageMaturity (days) Buy Yield
% of TotalPortfolio
Money Market Mutual Funds 31,257,143$ 31,257,143$ 31,257,143$ -$ 1 0.10% 1.92%
Local Government Investment Pools 43,346,534 43,346,534 43,346,534 - 1 0.15% 2.67%
Treasury Securities 75,000,000 76,190,303 76,478,120 287,817 445 0.74% 4.68%
Agency Securities 1,456,811,000 1,475,507,936 1,480,904,390 5,396,454 237 1.37% 90.73%
Total Portfolio 1,606,414,677$ 1,626,301,916$ 1,631,986,187$ 5,684,271$ 236 1.28% 100.00%
Agency Securities By Issuer Face Value Book Value Market Value
*Unrealized
Gain(Loss) % of Total Portfolio
S&P/Moody's
Ratings
Federal National Mortgage Assoc. (FNMA) 311,370,000$ 316,849,849$ 318,147,266$ 1,297,417$ 19.48% AAA/Aaa
Federal Home Loan Mortgage Corp. (FHLMC) 445,227,000 453,226,234 454,519,869 1,293,636 27.87% AAA/Aaa
Federal Home Loan Bank (FHLB) 373,820,000 376,358,434 378,180,127 1,821,693 23.14% AAA/Aaa
All Portfolios Combined
Federal Farm Credit Bank (FFCB) 326,394,000 329,073,419 330,057,128 983,708 20.23% AAA/Aaa
Total Agency Securities 1,456,811,000$ 1,475,507,936$ 1,480,904,390$ 5,396,454$ 90.73% AAA/Aaa
* Unrealized gain/loss is the difference between the market value and book value and does not represent an actual gain or loss. Gains and losses arerealized only when a security is sold prior to maturity. Since it is the City's practice to hold investments until they mature, the temporary gains and lossesare unlikely to be realized.
4
City of Dallas, Texas
Activity Summary - All Portfolios Combined
For the quarter ending June 30 2010
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For the quarter ending June 30, 2010
Description Beginning FaceAmount/Shares
Beginning YTM Purchased/Deposited Matured/Withdrew/Sold/Called
Ending FaceAmount/Shares
EndingYTM
FFCB Bond 369,819,000 1.63 10,000,000 53,425,000 326,394,000 1.45
FHLB Bond 388,290,000 1.92 7,530,000 22,000,000 373,820,000 1.84
FHLMC Bond 480,982,000 1.18 - 35,755,000 445,227,000 1.10
FNMA Bond 348,495,000 1.22 - 37,125,000 311,370,000 1.09
Local Government Investment Pool 95,524,534 0.11 196,922,000 249,100,000 43,346,534 0.15
Money Market 54,036,196 0.06 6,324,752 29,103,805 31,257,143 0.10
Treasury Bond 75,000,000 0.74 - - 75,000,000 0.74
Total / Average 1,812,146,730 1.33 220,776,752 426,508,805 1,606,414,677 1.28
Trade Activity
5
City of Dallas, Texas
Activity Summary - All Portfolios Combined
For the quarter ending June 30 2010
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For the quarter ending June 30, 2010
Broker/Dealer Awarded % Broker/Dealer Awarded %
Bank of America - National 130,000,000 17.89 First Southwest - Regional 4,990,000 28.47Coastal Securities - Regional 91,830,000 12.64 Rice Financial - MWBE 2,540,000 14.49
First Southwest - Regional 88,990,000 12.25 Wells Fargo - Regional 10,000,000 57.04
Jefferies & Co. - National 100,000,000 13.76 Total 17,530,000 100.00
JPMorgan - National 81,570,000 11.23
Loop Capital - MWBE 107,000,000 14.73
Morgan Keegan & Co. - Regional 50,000,000 6.88
Rice Financial - MWBE 28,140,000 3.87
Wells Fargo - Regional 40,000,000 5.50
Williams Capital - MWBE 9,100,000 1.25
Total 726,630,000$ 100.00
Dealer Activity Q3 FY10
42.88%
37.27%
BrokerDealerActivityFY0910toDate
NationalDealersMWBEDealers
National Dealers 311,570,000 42.88
MWBE Dealers 144,240,000 19.85
Regional Dealers 270,820,000 37.27
Total 726,630,000$ 100.00
Section 9 of the City's investment Policy requires the annual review and adoption of a list of qualified broker/dealers. These firms represent the brokerdealer firms that are currently approved by the Investment Committee as of October 16, 2009.
It is the City's Practice to solicit three or more competive bids/offers each trade.
19.85%
6
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City of Dallas, Texas
Yield Comparison - Investment Pool
For the quarter ending June 30, 2010
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1.61E+09
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
un-
09
ep-
9 ec-
9 ar-
10
un-
10
Yield
Yield Comparison
Series1 Series2
J S D J
* As per Section 17.1 of the City's Investment Policy, the benchmark for the Investment Pool is the 12-month moving average yield on treasury 1 - yearconstant maturities as reported by Federal Reserve Statistical Release H.15.
8
City of Dallas, Texas
Maturity Analysis - Investment Pool
For the quarter ending June 30, 2010
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0
100
200
300
400
500
600
Jun-
09
Sep-
09
Dec-
09
Mar-
10
Jun-
10
Days
Weighted Average Maturity
Investment Pool
Maximum
Investment Maturity Schedule - % of Total Pool
Current 1st Qtr 3 Months 1 Year Ago 1 Year
Mnths/Yrs to Maturity 6/30/2010 3/31/2010 Net Change 6/30/2009 Net ChangeLess than 3 months: 27.0% 14.1% 12.9% 23.8% 3.2%
3 months to 6 months: 14.3% 20.4% -6.1% 4.9% 9.4%
6 months to 9 months: 22.4% 12.6% 9.8% 19.3% 3.1%
9 months to 1 year: 9.5% 18.8% -9.4% 5.6% 3.9%
1 year to 2 years: 26.8% 32.9% -6.1% 45.3% -18.5%
2 years to 5 years: 0.0% 1.2% -1.2% 1.1% -1.1%
Total: 100.0% 100.0% 100.0%
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City of Dallas, Texas
Water Commercial Paper Program
For the quarter ending June 30, 2010
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SUMMARY STATEMENT
Current Prior Qtr Period
6/30/2010 3/31/2010 Net Change
Face Value - Money Market Mutual Funds 16,518,379$ 25,368,669$ (8,850,290)$
Book Value - Money Market Mutual Funds 16,518,379$ 25,368,669$ (8,850,290)$
Market Value - Money Market Mutual Funds 16,518,379$ 25,368,669$ (8,850,290)$
Accrued Interest 1,044$ 1,807$ (763)$
Cash Value (Market Value + Accrued Interest) 16,519,423 25,370,476 (8,851,053)
Unrealized Gain(Loss) - - -Weighted Average Days to Maturity 1 1 0
Buy Yield 0.11% 0.14% -0.03%
Portfolio Composition - % of Book Value
Money Market Mutual Funds 100.00% 100.00% 0.00%
STRATEGY STATEMENT
0.00%
STRATEGY COMPLIANCE STATEMENT
0.00%
Water Utilities issues tax-exempt commercial paper notes as an interim financing tool for construction projects. Proceeds from the issuance of commercial paper debt must be liquid in
order to fund periodic payments to contractors and must be invested in tax-exempt securities in order to avoid costly and complex arbitrage rebate computations. In order to meet theserequirements, commercial paper proceeds will be invested in tax-exempt money market mutual funds. The objectives of this portfolio are to: a) ensure safety of principal by investingonly in AAA-rated tax-exempt money market mutual funds; b) ensure that anticipated cash flows are matched with adequate investment liquidity; c) manage market and credit riskthrough diversification; and d) attain a market value commensurate with the objectives and the restrictions set forth in the Investment Policy and governing bond ordinances.
For the quarter ending March 31, 2010 the Water Commercial Paper Program Portfolio is in compliance with the relevant provisions of the Public Funds Investment Act and theinvestment strategy adopted in Sec. 17.7 of the City's Investment Policy.
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City of Dallas, Texas
Trinity Parkway Escrow
For the quarter ending June 30, 2010
SUMMARY STATEMENT
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SUMMARY STATEMENT
Current Prior Qtr Period
6/30/2010 3/31/2010 Net Change
Face Value - Money Market Mutual Funds 2,188,446$ 3,154,230$ (965,784)$
Book Value - Money Market Mutual Funds 2,188,446$ 3,154,230$ (965,784)$
Market Value - Money Market Mutual Funds 2,188,446$ 3,154,230$ (965,784)$
Accrued Interest -$ 768.85$ (769)$
Cash Value (Market Value + Accrued Interest) 2,188,446 3,154,999 (966,553)
Unrealized Gain(Loss) - - -Weighted Average Days to Maturity 1 1 0
Buy Yield 0.17% 0.12% 0.05%
Portfolio Composition - % of Book Value
Money Market Mutual Funds 100.00% 100.00% 0.00%
STRATEGY STATEMENT
STRATEGY COMPLIANCE STATEMENT
0.00%
The Trinity Parkway Escrow portfolio was created with the deposit of $5,000,000 on November 16, 1999 in an escrow account in accordance with an Agreement dated as of January
1, 1999 between the City and the North Texas Tollway Authority ("NTTA") pertaining to development of the Trinity Parkway. These funds will be used to reimburse NTTA for specifiedpayments related to project feasibility. Permitted investments for this account are defined in the Escrow Agreement as those that are consistent with the Public Funds Investment Act.The objectives of this portfolio are to: a) ensure safety of principal by investing only in high-quality securities for which a strong secondary market exists; b) ensure that anticipatedcash flows are matched with adequate investment liquidity; c) manage market and credit risk through diversification; and d) attain a market rate of return commensurate with theobjectives and restrictions set forth in the Agreement.
For the quarter ending March 31, 2010 the Trinity Parkway Escrow portfolio is in compliance with the provisions of the Public Funds Investment Act and the investment strategyadopted in Sec. 17.8 of the City's Investment Policy.
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City of Dallas, Texas
Oncor Electric Escrow
For the quarter ending June 30, 2010
SUMMARY STATEMENT
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SUMMARY STATEMENT
Current Prior Qtr Period
6/30/2010 3/31/2010 Net Change
Face Value - Money Market Mutual Funds 539,692$ 4,552,097$ (4,012,405)$
Book Value - Money Market Mutual Funds 539,692$ 4,552,097$ (4,012,405)$
Market Value - Money Market Mutual Funds 539,692$ 4,552,097$ (4,012,405)$
Accrued Interest -$ 1,083$ (1,083)$
Cash Value (Market Value + Accrued Interest) 539,692 4,553,180 (4,013,488)
Unrealized Gain(Loss) - -Weighted Average Days to Maturity 1 1 0
Buy Yield 0.17% 0.12% 0.05%
Portfolio Composition - % of Book Value
Money Market Mutual Funds 100.00% 100.00% 0.00%
STRATEGY COMPLIANCE STATEMENT
For the quarter ending March 31, 2010 the Oncor Electric Escrow portfolio is in compliance with the provisions of the Public Funds Investment Act and the investment strategyadopted in Sec. 17.8 of the City's Investment Policy.
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