HomeMy WebLinkAbout7/19/2000 - STAFF REPORTS (37) DATE: July 5, 2000
TO: City Council
FROM: Director of Finance & Treasurer
RE: Treasurer's Investment Report as of May 31, 2000
Attached is the Treasurer's Investment Report as of May 31, 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, 9.8t) 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 480 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 b
Thomas M. Ranarr
Treasurer
«asrep CITY OF PALM SPRINGS
6/30M TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
MAY 31, 2000
On Call its Adjusted Basis Category Tout pemn fte
Checkjog Account $ 546,370
Some Pool 22,890,000 $23,436,370 55.83%
Short Terri Invesunenta
(1 r or less)
Tune Deposit 250,000
Corporate Noses 499.290
U.S.Gov't Agencies 2,000,000 2,749.290 6.55%
Medium Tam investments
(1 year to 3years)
U.S.Gov'tAgenaee 4,998,750
Cotporm Notes 2,995,110 7,993,860 19.04%
Tam Invesnnette
U.S.Oov'tAgeactes 7,798,594 7,798,594 18.58%
Total Invested Cash $41.978,114 100.00%
*Some investments made prior to the implementation of the
earsem Investment Policy exceed the 5 year limit.
aavep TREASURER'S MONTHLY REPORT
W 36W DETAIL OF INVESTMENTS
MAY 31,2000
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On Ce0 .m
0eeb%4"ofAmwiw 546,370 vaNNe AM apn 5665 $ 546.370 S S 316-70 -722,109
Iml Apay bn4 Fad GAW) WOMA00 vwshl, WA "m 6.19% 22A90A0 22A9DA00 LUF 16,590A00
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AbSprap SnkWBat 290A00 MIS AAA 1U01A0 509% 29NM 250m PS sa"W 270,0W
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Pad S00.= 635% A2A4 1imm 6.19% 499.2W 497,9W BUY Waaa'R 497A D
Us Cott A3mry 3mmb
FWatl Nmoe Lm Bat 4W.00D 7.05% WA 11/09ID1 703% l.=,000 M.937 BNY Wa
F.ft Ws6wlmengw Aau I. MA00 $43% NIA 036" 5.43% 1.00%000 997,020 BNYWmea Tr meow
2,140.'M
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US Gal Apx7 Sammie
fed"flame Lon Bnk 2.WA00 3.60% WA OW242 542% IA90.750 1,94jw BNYWabn1Y 1,945A23
Fedora Fora Co Bra 14001WD $30% NM 07/161Dt sin I.Mmm 971.00 BNY Wemm Tr 972390
Fa6Nal Horne Lw Balk IAODA00 7.0D% WA 0W%lA2 7.00% 1A00,ODD 993.125 BNY Wawa
Wag Nag MWWp Am 1,00,00 622% WA 0NW61 6ms )AODA00 91SA20 BNY99eatm Tr 975.420
Cblpaar NWs
INelasoansl Lax Fn Cory. 2AOOA00 5.40% At OI/S2N2 $43S 1^660 1".91D am Wesba Tr 1.936.180
BQ Swam Co.,la I.WA0 613% A2A4 02M1A3 B21% M.450 90,I40 BNY We Tr 960,9m
7,993,t60
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F.k INa Lm Malay Am Imom 600% WA NNSI06 6.00% NMODD 953.750 BNY Wawn Tr WAS
Fedaa No MWOW Am+ 2X%OD0 5.75% WA 02WI01 573% 2,500.000 2.3M,7l0 BNY WV Tr 2,76S.3W
Feanl Nam.lmn MalM Asa 2AOOA00 613% WA 03117W 613% 21000,000 1,909,375 BNY Waam 77 1A25.000
Fakta Na'1 M"Vp Assn. lmoO 0 534% WA 07t29A4 594% 1,000AOD 949,360 JINY Wesaa T, 937.730
FeaNl Nana Lan Bmt D00A00 7A0S WA 0mm 700% MAD 779M BNY Wawa Tr 785.730
Fmmtft C4spamaa lFm 30 M 980% WA O4wUl 920% 499,396 651,O8D Naowla* 60,100
7.m.394
Tool Neaad Cab S 11A7S.114 $ 41.339= 32'W"
treasrep TREASURER'S MONTHLY REPORT
6/30100 MISCELLANEOUS AND TRUST ACCOUNTS
MAY 31, 2000
Yield Adjusted
Par Value Coupon Rating Maturity mMaturity Cost Basis Category Told
Total Invested Cash 41,978,114 41,978,114
$ 41,979,114
Miscellaneous Accounts
PeW Cash 2.912 N/A N/A open now 2,912
Revolving Fund-Bank of America 14,465 N/A N/A open none 14,465
Trust&Agency-Bank or America 478,179 NIA NIA opw note 478.179
1911 Assessment Funds-Bank of America 634 NIA NIA open none 634
Rehab Late(CDB0-Washington Musical 52,806 variable N/A open 149% 52,806
DownpymL Asst.alousing
Fund)-Washington.Muaal 32.037 variable NIA open 1.49% 32,057
581,053
IDepossaRWInTrust
Tune Deposits
(FDIC Insured)
Downey S&L(Cat Cyn Coumry Cmb) 53,2W 6.06% NIA 2112101 6.06% 53,267
Downey S&L(Cohen,Mark) 13.867 5.45% N/A 10/24/00 5.45% 13.867
Downey S&L(Dotgvan Bequest) 15,717 5.45% NIA 1042V00 5.45% 15.717
Downey S&L(Farmer Cable TV) 4,171 5.25% NIA 1119101 5 25% 4,171
PS Savings Bank(Coyote Springs Apo 14,340 4.88% N/A 6124M 4.88% 14.340
I01.30
Toal Cash Depostted S 42.IW.129
If ra- tiff is! 210
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TREASURER'S MONTHLY REPORT
treasrep CALCULATION OF INVESTMENT LIMITATIONS
06/30/00 MAY 31, 2000
Allowable Percentages
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days $8,000,000 N/A $26,185,660
1 year to 3 years 0.00% 50.00% 19.04%
3 years to 5 years 0.00% 30.00% 17.39%
over 5 years N/A NIA 1.19%
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 NIA 30.00% 0.00%
Corporate Notes N/A 20.00% 8.32%
Money Market Mutual Funds N/A 10.00% 0.00%
U.S. Government Agencies N/A 50.00% 35.25%
Mortgage Pass Thm's N/A 10.00% 0.00%
• Calculation of Weighted Avg Mammy
Umm Current No.of Days X Cost
Date Date Days
36,677
36.678 36,677 1 546,570
36,679 36,677 1 22,890,00D
36,834 36.677 157 39,250,000
36,838 36,677 161 80,385,690
37,204 36,677 527 527,OOD,000
36,979 36,677 302 302,000,OOD
37,299 36,677 622 1.743,222,300
37.341 36,677 664 664.000.000
37.379 36,677 702 702.000.000
37,721 36,677 1,044 1,044,OOD,000
37,278 36,677 601 1,201,194,660
37,653 36,677 976 972,535,20D
37,991 36,677 1,314 1,314,000,000
38,020 36.677 1,343 3,357,SOD,000
38,063 36,677 1.396 2,772,000,000
38,075 36,677 1,398 1,398,000,000
38,245 36.677 1,568 1,254,40D,OOD
43.196 36,677 6,519 3,250,334,286
20,145,259,706
Total lovesmtattlt at Cost 41,978.114
WAM in Days 479.90