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HomeMy WebLinkAbout11/17/1999 - STAFF REPORTS (29) DATE: October 29, 1999 TO: City Council FROM: Director of Finance & Treasurer RE: Treasurer's Investment Report as of September 30, 1999 Attached is the Treasurer's Investment Report as of September 30, 1999. 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 (WAN) of the portfolio, adjusted by the above noted calls, is 665 days. The maximum WAM allowed by the Investment Policy is 730 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. Canarr Treasurer a L trearep CITY OF PALM SPRINGS 10/28/99 TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS SEPTEMBER 30, 1999 0o Call DeDwits Adjusted Bak Category Taal Percentage Cheddng Account $ 3,317,075 State Pool 9,840,000 $13,157,075 40.38% Short Tam Invasmrents I a or hats U.S.Treasury Notes 1,675,625 Corporate Note 1.007.230 2,882,855 8.85% Medium Tam Investments 1 yearm3 Time Deposit 250,000 U.S.Gov't Agencies 3,998,750 Corporate Notes 2.497.950 6,746,700 20.71% Mong Tam Imrcstmeus U.S.Gov't Agenda 8,798,594 Corporate Noce 996,450 9.795.044 30.06% Tod Invested Cash $32.581.674 100.00% *Some Investments made prior to the implementation of the current Investment Poky excedd the 5 year limit. 1� soiy TREASURERS MONTHLY REPORT 10/2499 DETAIL OF INVESTMENTS SEPTEMBER30, 1999 C a T6Y A¢ IWV fat 21f1f fllnia` rro.w oafs o9f119Tw Mao Vaw Svav l4fuVY Oaaaf•MMf9ial baNY/a1Y1a97fsl AlnA75 9aa1M AAA 9r19 47M f 4317A75 f s ].317A75 919,7113 l A2a41aa1FalMp 9,2140W s21Y WA ar91 52m 9A90A00 9,N46W OAS ",Homo ll'lf),o)f llmTwfa9lalaN II.f Ow Cf . T92a UK= 6o WA 1wis99 7.5211 IA7S."s SA91,250 Wl9 Tr 2.004250 CA Oas Nw r9i6 1.904600 41Sf1f 011IE13O 11.19Y 1AO1SS0 IAf7rfW fMVlsiair IAI2r5W yN2A55 Mr6saTslYwmair TiwfgaA rrs9l.oF.sfr 2fo.990 s.aw AAA Ilrouao SfM 2f0.000 zsg6fo Lc sllfle SSopW usfolhAfsifslW F6nINIlmYMa®f1As 1AWAW &4M WA 41L29A11 94M 1,0016m %"Imuw fMT Tr W,250 ftl9aMslW F@t 2A04W0 LNR WA 0271➢M sm lAom30 1,965AW fMWA w 1r9470 F6aaFW 0+#bt 1.00Op00 530E WA 01/26N! SSD1f 1A04009 963rSW fMYlalsh W4)50 orysar Nea 1W,l SNAW 629% Ilg dSMi 199,lW S00AW MT w f01r2W Yllaaalsllurfla9sCa9. 14609AW L9011O Al ol)HAl2 L4M 1.9M.616 Ir957rm fMH w 1.952r506 4744M LmTwfes•�t "CWIAaagS FM Nat Malpp As I.Mm 6u% WA wlW 6. IA04000 W'm fNy9 Tr 9f47w IYa11IIr Ir9Wlfp Aan 1Af46W 6A05 WA ol/oSrW 6A091 IAWAN 117,11141 fM1FsaTf N;S00 FM W%I- AY. 2,SOO1 Wft WA amw Lm 4NUW L9147W fMif w 44MAW FUaNstlnlMwg9Am 2A DIM 61m WA M171N 61% 2AOMW 1.9%125 IWWaalaT, 1r969,575 16 11W!.MapfrA 1AO = 59 WA OW"A L9M 1A00AW 9nm I fwW Tr W42W F6aa M1sl9�frrt 104000 70UN WA W71SA19 7AOF fWAW )9)SSO IMW Tr N®aoryaarpKD) 500A00 9.11R WA o9/o67111 I'm 694SN 6641.2N NWef1! "U" Ca Nua faS Cr w 1A00AW 413% AtA9 oLo1Al2 621% 996A56 9)S,SDo fMl9auaTr 9"'m v.iva9w 9alfsNo4 •s ]zssla)v f >s-s61wa ]vwva2) 10/28/99 MISCELLANEOUS AND TRUST ACCOUNTS SEPTEMBER 30,1999 Yhi6 AgmeM Pr Value Cagan Raba 1. m m 14mmy Cott Bah Cawl"Tad rTow I 32,581,674 32.581.674 • 5 32,581,674 MLodmmm Petty Cab %912 WA WA opm nano Z912 RrAMRS Fund-WM Bumm Bart 1,347 WA WA opm mite 1,347 Taotta ABmp-WMBubm Bart 53S,9DS WA WA opm mite 535,SOS 1911 Aauaan pan&-WM Bubm Bart 474 WA WA apm mite 474 Rehab Loma(CDBG)•WaMBan M®I 386281 Ve6abM WA open 2.03% 38,281 Dom pins.Am.(Nmba FORM-WaNKtm Mutual 31,818 Variable N/A opm 2.m3% 31,818 61%337 IDemoodisHoldInTrint Tbne Deposits (FDIC BmuM) Dolntty S a L(Ca Can Camp CIW) 51,095 4.79% WA V13M 4.78% 51,095 Dm.w,S a L(CWN04 Mark) 13,512 451% WA 3128M 4.51% 13,512 Doamy S At L(DomVm Septet) 15,265 4.51% N/A V22100 4.51% 15,265 Doane SaLpabw CaWTV) 3,995 430% WA 1/20/00 430% 3,995 PS Same Bart(Coyne SpMp Apt) 14,340 4.88% N/A 6/24/00 4.88% 14,340 98,207 Fn*m Messed Imaameo WabRBan Mu" WA WA WA WA WA 8,658,475 ICMA RetBaotla Corp. WA WA WA WA WA 8,079,043 16.737.SI8 Tad Case Deposited JE 9267.736 9wn+ TREASURER'S MONTHLY REPORT lonarv9 BOND ISSUE RESERVE,DEBT SERVICE H RELATED FUNDS SEPTEMBER30, 1999 c� II6/ AO7M16 Y*vY W Btl0 5110rYI MMMr Orc 9O Cr1arT4w WAmlf� Swv MBN Y0 19N 9harIM01rl9w c461 1 1 1 gwww w I Uj WrTT .751'A6i 62M AM 01I51ml 6.1515 1 1'16) 1,766,KS SW(Ww W 1,715 1 1991/1NI a1..u.C9e 4,110.4N cgs PMMS s Tw10T9M9WM9W1 S.SN w91M AAA w 4.4oM Ls96 24N lWVhswT 1 A Iw59r4Aw 4A19ys49 669M AM 1111n1 GAM Am"s 4.IOI.In 4.999.145 p1YWwwh 4,Wx54$ 1N!AY9wr CM. IO012N 10062" I00,2N MIT IT, 14%M PM M1c 59MVTw711sWSbla 1.4n 506W AM w 4A011 IAn 1.4n w wW Tr 370142 U�Yr0awAP. 1A07Ao0 7A AM o1ro1Q2 7A019 I.S07A00 IAo70M wrW4lsBh 1AU7A00 2a7N sm% AM 12709799 Uft MM INAN wYW�Tr 174597 1.566A" 1991 f0109.11ue10 d5P9wBTMwr Ssa455 a461r AM w SAM 56a4A 2, oo,,, bpTo c wpm L96i SAofS AM w 4AOM x962 b6a451 GASP 559 L961 1a MM S,942 1N4z.6.Aie 564421 Ya o 0 P119cs11MT1wf51wT9bIn T910 Yu�eBI0wwA5r o w1Wr9h 0 1AM16 MM 1 1P16 5UTr1111Tr 1.70%M 0A1117 I—IM935 700.9I5 wYwh I.M%935 )A0;951 1916OmSCH M400 P14 b.59n.T 1wr5WWW0i mm 6A0% AM IM IAOM 1.911 1AN 91 ivw T, 1Aw AlMCM0IA05n0a 1.7]a0m dAOM M 04ro1K7 x40M 1J]BA91 1.nDA00 INT0hS14 Tr 1.ISa00D IMABy01GAU 1,731.911 AIGIaeaM•149ne 561.n1 Lm MA OI101/N SmM NIm 56/.n1 wrW4101Tr "I'm SGICB9wnwAw.•T1g0/cw. 14"61W sm AM IL01A79 962M �119.296 )114 r 5 TTTwFNr9W96Aw 47.742 vOW AAA 9ye 4AOr L96467.M L g77422 OMWw T, 47An I999M9mOK 45759n a+ 0 0 o wrvru.h n74o AM' AV.-%. 0N.720 S.mM AM 01ro1/D xm15 9N,7" W'm wrM T, W'm TO1C9n�wwN••9r4h0b9 k 3.W1A71 fANt AM ISro1K9 L63M IASIA71 L911.971 wyww n 465s171 PM9w.s..whwr9w.Tw9a 71,80 rMMM MA w 4AOM 71AW 71AN wYWrwlit 2%.n9 Us TIw10! 167.101 ♦.nM AM 12A9ro9 4A 167,101 164911 Owr w 92AN 1.94a599 Ir99S COW PM Yec S0wuT1wTSM51rM0M1 myNl r+a1M AM w 4A015 391141 10 m9,941 4.NI wTWwnh IOL9W 19WA 0b 155A ' l9lrer Twr olgwe WAIT rr611e AM w 490M 2"AB1 297AB1 9M W4wBh HSA31 1NOA1 [)bT161N P7A91 4rtaINS T090e919rw 2714 0 27x4m 275A00 wYw T 274.I05 54v9.5NTW 27L40o Ti,,, bnTorrolQwl Sant 4A AM w 4AOM 27A569 239.SN 1159 444AP I4w.1a90 Cw 2m sN FIDaA9NbnTlwTOlpr9 41%W 4.4 AM w 490M 4n165 4a1s9 4a169 U59s1 4gao 1w.-nA R1xAroTavrdSpWe 5S9,9m 44 AAA w 4A011 57A9m 5W.9m USww 5741n EN.9m T^� s LDLII s ILWAI s 2A016.a1 treasrep CALCULATION OF INVESTMENT LIMITATIONS 10/28/99 SEPTEMBER 30, 1999 Allowable Percentages By Maturity: Minimum Maximum Current Mo. 1 day to 365 days 40.00% 85.00% 49.23% 1 year to 3 years 0.00% 40.00% 20.71% 3 years to 5 years 0.00% 30.00% 28.53% over 5 years N/A N/A 1.53% By Type of Investment: Bankers Acceptance- in total N/A 40.00% 0.00% Bankers Acceptance-single bank N/A 20.00% 0.00% Commercial Paper N/A 15.00% 0.00% Negotiable Certificates of Deposit N/A 30.00% 0.00% Corporate Notes N/A 20.00% 13.81% Money Market Mutual Funds N/A 10.00% 0.00% U.S. Government Agencies N/A 40.00% 39.28% Mortgage Pass Thru's N/A 10.00% 0.00%