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HomeMy WebLinkAbout2006-09-06 STAFF REPORTS 2P OFPpLM S., �y u � x 'he s 9�IFORN� City Council Staff Report DATE: September 6, 2006 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF JUNE 30, 2006 FROM: Craig A. Graves, City Treasurer BY: Department of Finance and Treasury SUMMARY Attached is the Treasurer's Investment Report as of June 30, 2006. 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. RECOMMENDATION: Receive and File Treasurer's Investment Report as of June 30, 2006 STAFF ANALYSIS: The attached monthly Treasurer's Investment Report is for the period ending June 30, 2006. 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. ITEM NO. z• P,, City Council Staff Report September 6, 2006-- Page 2 Treasurer's Investment Report as of June 30, 2006 The weighted average maturity (WAM) of the portfolio is 365.45 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. FISCAL IMPACT: None 1 �y raig A. Gr ves, City Treasurer LLII Attachments: Treasurer's Investment Report tmasrep CITY OF PALM SPRINGS 112512006 TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS .TUNE 30, 2006 On Call De .sits Adjusted Basis Category Total Percentage r Checking Account S 1,605,916 I Slate Pool 38,190,000 S 59,795,916 49 4g% r Sltort Term Investments (1 year ar less) I ' Time Deposits 2,500,000 U.S.Gov't Agencies 8,000,000 U.S Treasury Note 1,481,484 11,981,484 14 88% Medium Tcrm 1.vesunenrs (1 year to 3 ears) Corpomic Nnms 1,983,7611 Mortgage Paae-Thrus 2,662,046 U.S Gov't Apencics 16,239,280 U.S Treasury Notes 498,190 21,383,576 26 56% Lang Term investments 3 ears m 5 years) Mortgage Pass-Thrus 3,343,288 U S.Gov't Agencies 3,999,594 7,341,882 9 12% fatal Invested Cush S 90,502,858 100.00% Some mvesnncnts made prior to the implementation of ncc current Investment Policy exceed die 5 year limit Irn-^.r TREASURER'S MONTHLY REPORT 3's5rms DETAIL OF LYVLST%IFNTS SU\E 30, 2006 cn.P:n rL.l wlrsl-] [I�ocnl)1 Fn.c pn Pu 4.1r Fxr IMllunly C.sl Bv[ Cz3 Rc R1xrL[Va`[. 5- R1uhr VJu. 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H.S.unsrl Irv, L'STrr_wy 4clt L13,:1A 4.131 WA 1Rrpn1 4MF ass.i9] 493,7m ➢NYW'rnenrr 493A10 493,CA Vey TREASURER'S MONTHLY REPORT ,m+m3s DETAIL OF INVESThIENTS JUNE 30, 2006 Ccupert YxW Ac]usln3 (muna ad4] Prior QW Par v . Oar Ha0a9 Mzwnly 'a M1fawnn' C...I Hun CaINer,Teal Ataba Valua Soar.Y NarYr[Valux 1srY Term]nr��rnam[ f1 ars m5 1 Nlimoa,F,,,Tlaus F .l Hmm Lam.11 Y:a9x Ctt{[-mourn Si➢.00 4.50� NM WIDIN9 537% 451,I17 474,438 BNYNasI¢n Tr 0 R6 lNaaoml\fmu9e AssrcuB¢ 2,7m.w) 4.5" WA HIM110 49[R 9]2,CYC ] AL7 BNYI%li,Ir Tr 0lE.M9 F�OmI Va!imul lfxx�gx Ava.uur¢ 2-0],CCO 4.50% NIA 0.01110 4569. 8m,50] 820." BNY45'e.Ier¢Tr 892,5w Fedmdl Home Leon M1ltt18a8e CerPcralion 549.574 4.n% R!A 02.WII0 522% 549.574 5J .M BNYWu.-.Tr 0 FAeral Won,Leon B� 735,C0D 4 753 NIA 10115i10 4 88n 1�9,632 654,335 BW W".Tr 61U.281) ],3:3 288 Ifs Gor'[ABercY�.x.¢rys Fe5:ral Farm LYeai[Ba 1,CiX., 425% VIA 11AVO =.154 [,LYIH,00] 963,M ➢NY Weslun Tr 9fi8;3] FK.rrl 1[.1.H.k aW m SBHF NIA 11P_5.b9 5.W%Ba 5B0,0]] 4N,781 ➢VY1Vcslmo Ta 493.U3 FarerA Hcce Low. nk 1,000,00] 4 30% NIA 12:DI.G9 4 30% [,00.1,J:O 9fr',652 HNY 1Veslro Tr 9fi9,175 FinaA H.ce uri, rN. I,H .03 435 NIA MP2110 4]�% 1,WO,CW 960,W3 BWW .Irxn Tr 966,562 Fn.ong Cm caoian(RC0) 500,OJ] D w0 N!A W106118 9 80% 499,94 08.200 NAM fi44,C6� +."Mw T¢C&r uVd CaT 5 80,52,€]5 5 H8,053,298 5 63,416,95fi TREASURER'S MONTHLY REPORT treasrep MISCELLANEOUS AND TRUST ACCOUNTS 7f2512006 JUNE 30, 2006 Yield Adjusted Par Value Coupon Rating hlawrity to Maturity Cast Basis Category Total Total Invested Cash $ 90,502.958 $ 80,502,858 $ 80,502,858 Miscellaneous Accoants Petty Cash 2,975 NIA NIA open none 2,975 Revolving Fund-Bank of America 9,639 NIA NIA open none 9,638 Trust&Agency-Bank of America 1,353,286 NIA NIA open none 1,353,286 Downpaymeat Assistance(Housine Fund) -wasliinglon Mutual 33,452 vanable NIA open 0.40% 33,452 Workers Compensation-Bank of America 7,667 NIA NIA open none 7,667 1,406,918 Deposits Held In Trust Time Deposits (FDIC Insured) Downey S &L(Cat Cyn Comdry Club) 65,045 4.40% NIA 2/11/2007 4.40% 65,045 Downey S&L(Donavan Bequest) 13,465 4.21% NIA 10/8/2006 4.21% 13,465 Downey S&L (Palmer Cable TV) 5,019 4 40% NIA 1/18/2007 4 40% 5,019 Guaranty Bank(Coyote Springs Apt) 18,032 4 67% NIA 6/24/2007 4 67% 19,032 101,561 Total Cash Deposited $ 92,011,338 TREASURER'S MONTHLY REPORT 1r rep BOND ISSUE RESERVE, DEBT SERVICE& RELATED FUNDS JUNE 30, 2006 couryn red Aalu.l�a [memo°a]y] PneT Qv.Pw L'alr: Bale Raging hfapriry bAlapvitY Cost➢atv CaNgary Ted I99I19]•T111L4 Ccvveav°itCurler 1 hLTkct Valuc S°wre Mar&-r Vaioc A%f GaverGment&A€c�j Pont Pnvae 1 032.4 Ba •,arable AAA AIG Iore,enc°t Ag,..[ °M 5 m% 1,082,a'7 1,082,484 SNY W�Icm Tr 1,681,8]3 ],28D,6i3 5368 AAA 1LL]]R5 i358 1.28],6]3 AIG Inve,lment Agrce�m I,298,CLr] 668% AAA 1ImEm L280,6i3 ONY Wescm Tr 1,280,623 AIG 1as.s wASrccnle°r 6.68n ],290,p00 ],2A7 CD0 BUY Wmwm Tr 1,29D,D(q I,132,32] 2.SI4, AAA 0.5,YlIr1M 29Ik q LMRTA las'csozeLlgacme°r 3.3W.402 5.5N AAA ILV1135 5.58% ],3W,a@ 0 BNY Wrscm TT 11300,450 ],3WpW 6NY 4l4slcrn Tr 3,300,402 ]99Lllfi Airpan 6,953,559 Cuff 1104 AMI Sbn-Term invest Tny Pnrxe 1,166.622 404 404 SNY{l—W.TT I carfahle .IAA °Fea 4fi01% I.I65,S?2 I,I66,622 9\'Y Ww 1LyuicH lavcst m Ap 12yw.6 T 0l4 AAAOUS1122 ✓n Tr 3DI,I36 i.W N 0 0 ➢NY R'rs�m'R I,20],ELU 1991'll1 Scd'B Hml'iag I,]Si,@fi AL41 G°szmnanr&,g,,,Porlf Pnralc 4,259 vamhlc AAA °goo 46pq AIG I➢Ve:JI12L Agra m -W.105 a.22% AAA CSR11121 4.259 9.259 9N'Y 14 Tr a,216 5'�'8 'm•1g 463,]Oa BNY IV.W.esNm'fr 968.I D5 1594,W Scnes A S➢ 472,16: Am Gosrmmcrt&ASmcy Pouf Pmale 3,216.95€ va61W A•L1 °Fea 1 4.60% 3? \fIllA laszsm-"t rczmeW I6,958 AS 3,2[fi,958 BNY wc,lam Tr ],IS5,01a ,b51,456 °.17 AAA 090ll1134 5.p] 3,01.456 1,651,456 IINYIVrslemh 1,65],456 4,Fb8,a I4 ]996 Afv dy'l Plw Pacfflaes Pmjm ALM Gait em&A82o-3 Pone PnYelc variable AAA P. 4 60$ 2,25i AMRAC lm'm¢•m Agrc.-mcnt 1,]3D,D03 fi an a AA oarola2 2,57 9.l'Y Weerem Tr 1,156,OW saD� I,]30.0O3 1,730,pW ➢NS•we:�.Tr 3 0,CN ]g98.94°a GARS 1,132,T57 AIG lnre�rn AS, Rc•cne 361,221 5",V'S AAA 011➢]!2B 5 70^a ALM Gavea_nent&,Agee.. P*Af Pavze 56I,221 55I,221 ➢NY R'cstem Tr [40,956 y 259,I8: .able AAA �. 4 604 299 1& 299,18a BNY 1Velcty Ti Ia0,9g6 swans TREASURER'S MONTHLY REPORT ne rq BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS mns�6 TUNE 30,200E Coupeo Y"w Adj'a d (memo wlp] Pdm Qv. Par Vs3uc P—!e [t+nog M.I.Ly ra Maz"y Coss B. Cmcgory Tou] MarV:er Vabne Srsarx :Aarkt VdG- 199E herpon PFC AIG]ora!meor Aer -Reserve 849,72E 5.19E AAA 01=28 5.M 849,72E 8z9,R8 ➢M R'e.r:m Tr 8: jm AL4]Go.xnanent&ASeoy%of PmaR 453,07E vzriab' AAA open 40% 453,07E 453,08 BNY W.W.Tr 211.528 [,'-02.M6 1998 Mu]unk Cnp:'l W25!cwalcr AW GoYcn o!&Agency PunfPnsare 303,61E v..bl, .AAA apen 4.60% 303,04L 303,01] BUY 6me .Tr 542.802 303,611 L998 Ms,u m of Dismo 35,A&B AIRS GDv ounUol&AVmcy Ponf Pmzle 308,88] ramble AAA Fro 4 608 30E,887 30a'E57 6:LY il'esrem Tr 365 Ell 308,887 2001 Asse'• nLD'v¢1 W1158 AAf Go.rrvneor&A8a_y Pony Muv 171,1m .anah[r AAA o➢. 4 60 A 171,164 171.1m L3NY Wesem Tr 169,45E 171.16: 2W2 Parkin;Suucmrc Cak 3 3 3 6NY R"o .Tr 3 AM Gwemmciu&AL a—y Pon,Pnea!e 36.80 vanxh:r AAA open 403% 36,805 36,W5 BNY S4'ea;m Tr 34,458 36,E03 20 Asessmenr Paw L61 AAf Govenua &Agency PantN Wr 5[[,853 variable AAA open 4fA51, 411,063 41 L,863 BWY W,w .Tr 407,764 4L1,861 2004 Ass�.ru Dmier]62 Czb 54,28 54,42E 34,428 83 We . mTr 51,42E AIM GavcnuaenL&Agency P.Of Priw2 816,951 varinL•1e AAA open 460% 816,95] 816,951 13NY Wc,m.Tr 86E,S 14 873,"s79 2IXY5.Assosornl D'urnc]164 ALf Gnre�enr&Agency Ponr Pnrae 6611"63 ymhWc AAA open 4.60% 651,463 W.461 13NY SSrms Tr 954,138 661,463 TodG, 5 20.12L•436 S M,121,436 5 23,586.215 treasrep TREASURER'S MONTHLY REPORT 07/25/06 CALCULATION OF INVESTMENT LIMITATIONS JUNE 30, 2006 Allowable Percentages By Maturity: Minimum Maximum Current Mo. 1 day to 365 days 58,000,000 N/A $51,777,400 1 year to 3 years 0.00% 50.00% 26.56% 3 years to 5 years 0.00% 30.00% 8.50% over 5 years NIA N/A 0.62% 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% Certificates of Deposit NIA 30.00% 3.11% Corporate Notes N/A 20.00% 2.46% Money Market Mutual Funds NIA 10.00% 0.00% Mortgage Pass Thru's NIA 10.00% 7.46% U.S. Government Agencies N/A 50.00% 35.07% U.S. Treasury Notes/Bonds NIA NIA 2.46% G'Iw1.4ton of Woiyhnd AVE m mrhy M." cl.-1 Nn Of ory.x c4 ON, um onyx IS RON IN 099 38 698 1 1 605 916 36 699 38 898 1 36 190 ON 191I5 1B 398 219 '_17 ON 000 39,115 3N 89N 217 21?OW,OW 39143 3P flea 2SR IlL 5Y0,W0 36 649 36 096 •51 0 38 910 38 898 43 11 No ON 39 954 39,998 56 112 mw ON 38 995 38,898 n n 000 No 39002 38 890 104 104 uW 900 So,= IN N9x 222000 Ono 3'11- 33 RUN N4 224 ON ON 3q,llo 36 898 b2 342 ON ON 39.141 36 699 243 120493,829 39:63 39 998 545 159 751 12.5 394198 18,899 580 174 5x8 600 3954' 31.899 644 639 549 960 39,600 38 E98 702 67f,2M 176 59,693 3x 998 794 433 016 402 39 753 IN Egg P55 588 334,050 19955 1N 69S 1069 429 M_105 3'-1167 is NUN 469 469 WO WO 391N1 38 SOB 463 2$1.500 WO 19414 38 999 Sit 516,mi,ON 39 441 38.899 046 546 two 000 39 d99 38 898 fig 28 5GO nnn 39506 SE,89H ME MR OW No 59,54H 39 H98 &M 650000000 59,609 13 MR ]II 711000000 19,M4 36 896 956 378 NO NO 39,666 39,899 110 nu o0gno0 39,948 38 E98 950 617 Snn No 19]SO 3N NUN x52 052 000,000 39769 IN N99 371 671000.OM 19,7F7 3009E 989 869000,000 39.654 36 998 956 956"'aw 39 918 38 898 1 020 1 999 Egg No 39 939 38 x9e 1 909 1 039 ON NO 39993 BE N99 1 095 I n95 Ono M 19 386 36 093 498 2'13,263,120 40 OT 38 698 1 159 557 61d 603 40 199 38 698 1291 1.029 441 422 40210 36891 1,312 1,1/6364956 10210 36.991 1,312 721041,Oxx 40476 3i,891 1578 1040 H99'96 4n n5 38 898 1 239 1 239 000 NO 40 142 38 691 I.:A4 6n 6'Iw utw 10 WE 36,998 [,nu I ME m0000 40,231 38,898 1 iM 1 111 nnn W0 43,196 3x 898 4'_98 ^_1e"_95701: 29 419 697 NO TOR d O,muoeni4 at Cost N0 502 958 WAM In D iyv 365 45