HomeMy WebLinkAbout4/19/2000 - STAFF REPORTS (8) DATE: March 31, 2000
TO: city council
FROM: Director of Finance & Treasurer
RE: Treasurer's Investment Report as of February 29, 2000
Attached is the Treasurer's Investment Report as of February 29,
2000. The report includes the face value and coupon rate (if
applicable) of the investments and the source for the market value
estimate. Also included is information on the investments of Bond
Issue reserve funds, and on loan repayment programs managed by a
bank.
The investments, in type, maturity and as a percentage of the total
portfolio, are in compliance with the existing City Council-approved
investment policy with one exception: the FICO notes ($500, 000,
4/16/18, 9.8%) exceed the 5 year limitation on maturities (Detail of
Investments, Long Term Investments, Mortgage Pass Thru's) . The
investment in question was purchased prior to the adoption of the 5
year limitation. Since it appears to represent no additional risk
either because of credit-worthiness or liquidity, earlier councils
decided to allow it to be retained in the investment pool because the
yield is higher than attainable under current market conditions. we
recommend that this exception to the policy be continued.
State law requires this report to be submitted within 30 days of the
end of the quarter. Because all of the City's bank accounts may not
be completely reconciled, there may be minor adjustments to the cash
on hand in the checking account and to the valuation of the bond
issue's money market investments. All other amounts are actual.
The weighted average maturity (WAM) of the portfolio is 596 days.
The maximum WAM allowed by the Investment Policy is 1095 days. The
current portfolio and expected revenue cash flow will be sufficient
to meet budgeted expenditure requirements for the next six months and
the foreseeable future thereafter.
Submitted by:
Thomas M. Kanarr
Treasurer
qjq
treasrep CITY OF PALM SPRINGS
3/30/00 TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
FEBRUARY 29, 2000
On Call Deposits Adjusted Basis Category Total percentage
Checking Account S 609,854
State Pool 16,790.000 $17,399.854 51 26%
Short Term Investments
( 1 year or less)
Time Deposit 250,000
Corporate Notes 499,290 749,290 2.21%
Medium Term Investments
( 1 year to 3 years)
U S Gov't Agencies 3,998,750
Corporate Notes 2,995.110 6,993,860 20.61%
Lang Term Investments
U S Gov't Agencies 8,799,594 8,798,594 25.92%
Total Invested Cash 533,941,598 I00 005,
*Some investments made prior a the implementation of the f;4144
current Investment Policy cxcned the 5 year limit.
cnc� p TREASURER'S MONTHLY RGPORT
vain DETAIL OF INVESTMENTS
FEBRUARY 29, 2000
Co-�pan Y IJ MpsmS fn:emo only) Po.Qv
Part'aluc Ra_ Paeb hl.mrily •o RlaWnly Cosl Bans CaleEw-5 Total A4rk¢Valuc Swac rMetclVs_I
Ion Calf[k usiu
Ch kme Bank el Amee C2&WM1S BusiPsss Lank Ef9,855 ruir l: AAA y:cn 5.12% S NV,859 5 $ 603,859 55.Sf1
[ -il Ayci ylnPul Fvd[LAIF] 16.7w. B rari. l- NfA c n 5 n% ]fi,]sV,C00 16.75(',111b IAFF 9,1.O.C.A
1T,399,554
Short Tcrs frnxmrinu
l x c,l
limo Npom
Pr=n SOrmgs S"jU Ba_& Mcm 5.03% AAA 11 N.W 5 S3% 250,C00 251f.lY.YJ Y S Srrm0s nu.cW
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Ferd SW,UA 6.1525% A2A+ IIRS180 6.29% 999,290 94?7D] BNS'Wr4¢m Tr 393,}]5
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Fdrnl N...9 M.onpye Assn ],CCO,W0 541% NM 4R9.'81 543% 1,000.0W 957.slo BNY Wc"...Tr 988.1C0
Fdval!tome U.Bmk 2,[CO,WO 540% NM 01f12102 5.41% 1,996. 90 1946.875 BNY We0vn Tr 1,951,a73
Fedrral F,- Ccdil Hank 1,CCU,0W 5.50% NIA OV2002 5.50% 1,000,fA32 W3,210 MNY Weslrrn T, 977.13B
C9rporiN Noes
lntcrhnna L me Fnnrc Cnm 2,C•V,000 5J3'.F Al Olnlffi2 543% 1.995,6% I.W7.10.1 HVYww.,n Tr 1,94{,340
Bev SLenc Co,In; I.mo.W0 6 33% A2A+ WMIM3 6.21% 995,450 917.1" BNY W'cs m Fr 9U.,
6,993.W
[.any Tern faxsMun
(3 a -.5 rss)
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Fdcrrl Nal'1.M.,,,Assn I,UA,Oa1 6 22% NIA Wf 10AU 6.22. ],O[O,BC➢ 9J2 un BNY Wcsnrn Tr 919.W
Fder.l H.l nWe,,e Assn I.R)),W➢ 6W% NIA O1105A35 6.002 1,BB0,0➢0 } .BW ➢NY We,L-Tr 965,6?8
Fn'crd Nirl Wrl,.,Aso 2,30),BW 5 T5% WA 01103N: 5 75% 2,5w.m 2.376.375 ➢W SYcsern Tr 1.596.511
Fo-eral ftx2 n NI"aec Assn 3.W).M 6 11% NIA 0W17A14 6 13% 2,p .ow W2 sw ➢W W3 xrn Tr L.931.375
Fc5:r2 pal l hlur4-,c Assn I U3],CW 5 99% NIA D3r9.N 5 9:% L.M. 914.60 BNY Wratrn Tr 953.1w
Fc&r.l W,] B.nt &]O,BIXI 7.00% NIA B4115h]9 ]W3 sw.N 785 Db ENV N'rlcm Tr '+ s.,
Nnaminy Coi,rrllni fl:IC01 5W,C00 9.m% NIA B4Wels 9W% 596,591 W7.m N.Vant 535,280
a,79x,sw
To:al lnrrs�Crab S 31,9:1593 6 135fi6,SOl 16,933SA
uea:rep TREASURER'S MONTHLY REPORT
3130M MISCELLANEOUS AND TRUST ACCOUNTS NZ
FEBRUARY 29, 2000
Yield Adiested
Par Value Coupon Banns Malunry to Niatunty Cast Basis Category Taut
Toul Invested Cash 33,941,598 33,941,598
S 33,941,598
Miscellaneous Accounts
Petry Cash 2,912 NIA NIA open none 2,932
Revolving Fund-Bank of America 11,195 NIA NIA open none 11.195
Trust&Agency-Bank of America 574,553 NIA NIA open Rune 574,553
l9E I Assessment Funds-Bank of Arnica 1,912 NIA NIA open none 1,912
Rehab Imas(CDBG)-1VashmPmn Mutual 51.794 variable NIA open 150% 51,794
Downpymt Asst (HGusing
Fund)-Washington Mutual 31,938 variable NIA open 150% 31,938
674,304
Deposi Ls Held In Tmst
Time Deposes
(FDIC Insured)
Downey S&L(Cat Cyn Country Club) 53.267 6.06% NIA VID01 6.0671. 53,267
Downcy S&L(Cohen,Mark) 13.512 4.5t Y N!A 312810I7 4 51% 13,512
Downey S&L(Donovan Bequest] 15,717 5.457e NIA 10/21/00 5 45% 15,717
Downey S&L(Palmer Cable TV) 4,171 5 25 a NIA 111910L 5 25% 4,171
PS Savings Bank(Coyo(c Springs Apr) 14,349 4.88% MA W4700 4 889 14,340
1a1,007
Toul Cas)i Dcpasited $ 14,716,909
m„rtP TREASURER'S MONTHLY REPORT
P,am BOYD ISSUE RESERVE, DEBT SERVICE&RELATED FUNDS
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TREASURER'S MONTHLY REPORT
treasrep CALCULATION OF INVESTMENT LIMITATIONS
03/30/00 FEBRUARY 29, 2000
Allowable Percentages
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days $8,000,000 NIA $18,149,144
1 year to 3 years 0.00% 50.00% 20.617o
3 years to 5 years 0.00% 30.00% 24.45%
over 5 years NIA NIA 1.47%
By Type of Investment:
Bankers Acceptance - in total NIA 40.00% 0.00%
Bankers Acceptance - single bank NIA 20.00% 0.00%
Commercial Paper NIA 15.00% 0.00%
Negotiable Certificates of Deposit NIA 30.00% 0.0070
Corporate Notes NIA 20.00% 10.29%
Money Market Mutual Funds NIA 10.00% 0.0070
U.S. Government Agencies NIA 50.00% 37.70%
Mortgage Pass Thru's NIA 10.00% 0.00%