HomeMy WebLinkAbout9/20/2006 - STAFF REPORTS - 2.C. ;04?PLM SA4
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•Cq<lFOR��Pr City Council Staff Report
DATE: September 20, 2006 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF JULY 31, 2006
FROM: Craig A. Graves, City Treasurer
BY: Department of Finance and Treasury
SUMMARY
Attached is the Treasurer's Investment Report as of July 31, 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 July 31, 2006
STAFF ANALYSIS.-
The attached monthly Treasurers Investment Report is for the period ending July 31, 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, 4/16118, 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
ail] 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.� —
City CouncH Staff Report
September 20, 2006— Page 2
Treasurers Investment Report as of July 31, 2005
The weighted average maturity (WAM) of the portfolio is 376 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
c`
Cra' A. Graves,"City Treasurer
/ Attachments: Treasurer's Investment Report
cNasrep CITY OF PALM SPRINGS
8/29120a6 TREASURER'S MONTI3LY REPORT
SUMMARY OF INVESTMENTS
JULY 31, 2006
On Call Deposits Adjusted Bans Category Total Percentage
Checking Account S 368,895
Slate Pool 37,190,000 S 37,558,894 4620%
Short.Term Investments
(1 year or Ices)
Ture Deposits 2,500,000
U,S,Gov't Agencies 8,000,000
US Treasury Note 1,481,484 11,981,484 14.74%
Medmm'Cerm Investments
(1 car to 3 ears)
Corporate Notes 1,983,760
Mortgage Pass Thrus 2,784,484
US Gov't Agencies 19,235,575
U S Treasury Notes 498,490 24,502,309 30.1475
Long Tcrm plveslmem5
(3 ears to 5 ears)
Mortgage Pass•Thrus 3.252,604
U.S Gov't Agencies 3,99M 594 7,251,198 892%
Total Invested Cash
S 81,293.886 100.00Y
"Some invcstmcnt_s mpdc pi for 10 fhe inlplomc=don of the
curr911[Investment Policy exceed die 5 year limit
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,re—, TREASURER'S,NIONTHLY REPORT
M1^-gems DETAIL OF INVESTMENTS
JULY 31, 2006
Cur�n Yi:W AO1usm1 Prior Q,r
Ps VJue Rea Cm B-. Cal:gup TVA M19rkn W-a Sm¢ llar Value
[.S Ton
3 .a '.5 :ue7
Mc[la,r ss TL
FeJere811..:U n M1fonsbe Cen&Mr . 5m." 4."% NA CO.G1l09 a37V, �9,551 5 .414 BNY W'e,er Tr 474,458
Fedrrsl N.t,.]k[mrasz Asw;.ao x,3D],M1O] 4.ma MA 0MV 10 491% 771,OZ9 751,619 ¢NY W<ml Tr 784,81x
".rA N.u.]MmrgaSx Asssc,.Cn 2,50],p0] 4.30a MA V_+iW 10 446% 639,+I4 52%,: BNY Weil Tr 020,6119
"zrJ Home 549,574 4.,6A VA M.MVIC 5.22% 5n.111 MS A BNY W'e,r Tr �W.Lm
FH:re[Hom:l.arn 9 U� 77S,D)3 4 7�% VA 1OMM 4.83R 64m( 6 6,m MYW.I.Tr 651,335
3,252.E '
U.S.Om'I Ag<n,Sm^ry•
F col Perm CrWk Hank [,D.0,0.J 3 25 o NeA 11113M 4.25% 1,CCO.000 W.175 HW Wo.-m Tr 953.12f
ErrolM.C emk �A,OO 5.CIIA WA LIn,w 5.We So.m 493.231 HW Wle.Tr SA,ibl
Fe ral Howf Rmk 0A.00 430. MA IZ.UL.W 4.30A L.cm.000 WO.938 BW)Vwo.T 451,(k52
F�m111=(Aron 6mh 1,Rg000 4 35& NIA OW2110 4.31: 1,cm.m %7.8B 9NY 1Vcr.rn Tr W6 5
Fl— lnr Cccpool,on(RCO1 SWl" 9805 NIA 04B6i18 9.80: 49$094 696.075 N•,inu&v,t 618380
398 9
T.rallmes,N Ca.h 5 81,]93,£86 S 79,99},059 5 10.03,.248
TREASURER'S MONTHLY REPORT
treasrep MISCELLANEOUS AND TRUST ACCOUNTS
812912006 JULY 31, 2006
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 81.293,886 $ 81,293,886
.$ 81�93,886
Miscellaneous Accounts
Petty Cash 2,875 I41A NIA open none 2,875
Revolving Fund-Bank of America 18,982 NIA NIA open none 18,982
Trust&Agency-Bank of America 1.371,213 NIA NIA open Rolle 1,371,213
Dosvnpayment Assistance(Housing
Fund)-Washington Mutual 33,452 variable NIA open 0 40% 33,452
Workers Compensation-Bank of America -5,675 NIA NIA open none -5,675
1,420,847
Deposits Held In Trust
Time Deposits
(FDIC Insured)
Downey S&L(Cat Cyn Coutury Club) 65,045 4.40% MA 2/11/2007 4.40% 65,045
Downey S&L(Donovan Bequest) 13,465 4 21% NIA 10/8/2006 4.21 0 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% 18,032
10I,561
Total Cash Deposited
$ 8218163294
TREASURER'S MONTHLY REPORT
R—�p BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
a329+� JULY 31, 2006
Cn�Pci Yield Adj." In,'ma nalY'1 Pnor Qlr.
Paz Value Rair Racine '&W iry W Mamrily Ca,1 Ruin C.Rgary Ta[A M ka Value sm.a ASarke[V'ah_:
]43119]10L➢4 Coovmfio¢Cnlcr
AIDI Gorcr,L =&Ag.y Ponf Pmarr 960,558 Yuia6le .AAA 0 4 J17, 960.855 P"n 950,858 R\'Y lVzslcm Tr 1.082,484
AIG]woimxor Agumen[ 1.280,M 5.36% AAA 1L U25 5 36% 1,280,673 1,280,673 MY Arws Tr 1.280,673
AIG Iuruaneor Apx.mt E,290,0]0 6.66% AAA llr➢1121 6 W5 1,2%,(W 1,290,0 ] BNY Ww.Tr 1,290,000
NMIA IwrsMm Ag.a . ],300,402 5 511 AAA 1 E:➢1135 538% 3,300.402 3,300,402 BIW Wwc Tr 3,300.402
5,831.933
1992N5 A,r n
C� 9dt 936 984 IV4l We W.Tr 404
AIM Shw-Term imu!Trsy Pnrs 1,03,803 r.n hk AAA oPCL 4.80% 1.6s3,803 1,053,K3 llwlv�wm Tr 1.165,fi22
1,054.787
MIMI Sencr a-H.o .e
ALM Gaveromem&A,.q Punt Pnvaw 346,833 ramble kAA epm 4W]l 346,833 346,933 BNY[Vesrcm Tr 4.259
AIG ln,..w Agree,ner' 460.105 5224 AAA MYIVd1 5.2P7, 468,10� 468,105 BNY W',r� Tr 468,105
814,938
199`-154 Senea A&B
AIDS GovemmcW&Agency Pant Pnsaze 3,22$177 Yariable AAA o6eo 480% 3,228,177 3,228,1W B14Y W.W.Tr 3,236,958
WIA by. aA,,.,r 1.651,456 5.Wy AAA 09.101134 5.17% 1,651,456 1,651,456 llwlVolxm Tr 1.651,456
4,879.633
1996%Udp'e Cap:�1 7ar0id.Pn,,,
AR.f Gmrmm.-nl&M,c q Pv PnyaL- 2,265 rznah[r AAA vpm 4 0% 2,265 2,265 BNY%rm[.Tr 2,257
ANMACI Y. uA,.e. 1,729,689 640% AA 046DU27 640% 1,729,609 1,129,689 BNY IVcs¢m Tr [,730.0]0
1,731,954
E998 Airmen GAIM
AIG fnvuurml Aer R� 561,221 5.70% AAA OIROWS 5.70% 561,221 56i'm MY WVlcm Tr 561,221
Ami Goremmrm&Agaey Pont P,ra" [52,224 Yauble AAA nFeo MID% 152,224 152,224 R\Y ll'u!em Tr 299,194
713,445
TREASURER'S MONTHLY REPORT
lrrssreP BOND ISSUE RESERVE, DEBT SERVICE&RELATED FUNDS
Dan9r� JULY 31, 2006
C.P. Yi.-1d Adry•[+d [mcm°°Ny) Prier Q,
Par Vabae [tazz Naline hlaNn[y to blaludw C°c Bsk Czwe T.W Marka Yaluc S. hl.klL Value
1999 Ahp°a PFC
ATG InsCSImeW A,r -Beane 84972E 570% AAA alImns 570% 949,728 849,728 BNY%Vmm Ti 849,728
AL13 G°semmm[&,Agmcy Pohl Pn_'.e 232,097 vuiab[e AAA opa 4.80% 232,QW MAW BNY 14•es[em Tr 453,078
1,Q81,825
1998 7MONple Cap"R'asraarer
AAi G°rermo„t&A,,.,Penf Pnvzm 304,098 I.L-bl A4A oN. A F3% 30l,098 361,098 BNY Wuem Tr 3A3,0,I
3N,098
1998 As•.-,L I7ima 155 A&B
AM]G°reru a&Agm_r Penf Pavae 309,965 sarible AAA open 4 80% 3D9,955 M9,955 6NY Wales Tr 308,837
_vg.%5
2001 A°se�s DI•MC1157f[H
AN Goveamx°r&Age°cy P°nf Pdsare 171,761 'arable AAA eprn 4 80% 171,761 171.761 nl 154uan Tr 171,164
171,761
2002 Paskiug Slrumrc
C_,h 3 3 3 BNY W. m 1, 3
ABM Gove.m&A,e°cy Poaf Paeale 34.339 rAiabk AAA °Pi° 4 SH 31,339 14339 BNY W. .Tr 36.9
34,342
2034 Asse,•me°r DssMm 161
AGM Govrmme°[&A, .,Poaf Pnrale 413,299 vaHW- AAA alvn 4.Ml,, 4132W 513.299 6NY4VaNm Tr 411,863
413,299
2004 A<sasncnlR Il%[[62
Cash 51,428 54,428 54,428 B.N'Y W9 ..Tr 54,4H
eVL\3 G°sermoenl&Aecncy TbalP ile 285.215 vuiab[e AAA ope° 400H 256,215 286,?15 BNY lVw.Tr 916,951
0,6 3
205 As•+sm-n[Ilisuie[167
AIDl G....1&A,rn,Penf Pnva: 663,770 san.blc AAA ePcn 4.80% 663(AO 663,770 BNY W.W.Tr 661,463
663,770
TO $ 19,346.393 $ 39,346.390 S 20.121.436
treasrep TREASURER'S MONTHLY REPORT
08/29/06 CALCULATION OF INVESTMENT LIMITATIONS
JULY 31, 2006
Allowable Percentages
By Maturity: Minimum Maximum Current Mo.
t day to 365 days $8,000,000 NIA $49,540,379
1 year to 3 years 0.00% 50.00% 30.t4%
3 years to 5 years 0.00% 30.00% 8.31%
over 5 years N/A NIA 0.6 t%
By Type of Investment:
Bankers Acceptance - in total NIA 40.00% 0.00%
Bankers Acceptance - single bank N/A 20.00% 0.00%
Commercial Paper NIA 15.00% 0.00%
Certificates of Deposit NIA 30.00% 3.08%
Corporate Notes NIA 20.00% 2.44%
Money Market Mutual Funds NIA 10.00% 0.00%
Mortgage Pass Thm's N/A 10.00% 7.43%
U.S. Government Agencies NIA 50.00% 38.42%
U.S. Treasury Notes/Bonds NIA N/A 2.44%
Ctl[ulnJmi of WvyLmd A,M pnnry
Muwm Cuertnl No.of Do,X Cou
Dim hum p"
3tl 929
JY,930 IS 929 1 169 09A
N,930 3A 929 1 39 1M WO
31 115 3A 929 186 IBO OOO,uuu
39115 3A 929 ISO IAs NO 000
39,163 yA 929 234 117 W0 000
iA 040 is 929 11 11 W0,W0
3A 99t 39 929 25 50 OG9 00O
32 975 36 r9 46 16 WO WO
39 Ono J4.929 73 73,01CIR W0
i9 120 39,929 191 191,WO,0W
39.122 38 929 19l 193 WO P"0
192,0 3tl 929 311 311 OOO,CW
JY IAI 38,929 20 105 I—IA9
39 263 38 929 114 31_9 NEI 750
39,479 lA 959 549 W 099 810
19 515 is 929 613 WO 76,1,170
39 WO 38,929 oil 629,318 623
39 661 1tl 929 712 Q9 924,955
39 695 38 92Y 763 '5t 07,1.2L9
39 953 3B 09 824 550 00,804
39 965 iA 929 1 036 415 431 714
39367 38.929 432 U6.000 ON
39,301 iA 959 452 "_"_A WO oon
39,010 38 929 N5 695 WOOCK)
39.441 38 929 $15 515 WO,C00
39 1" 39 929 54R 294 WO 000
30 506 38 9SJ 577 577 WO ON
39 uA 3Y.p,E 619 619 Wu No
3997 36.929 GAO 680000 WO
39,G12 38.919 C 3 1 163 469 485
39,654 3A.9:9 725 162 Soo NO
39 66A 16 9:9 739 710 000 000
39 748 i8 q59 919 614"_50,000
39750 in 929 Uzi A,I NO 00o
39169 311929 440 8400W 0o0
39 787 16 9'-9 858 A5A No NO
39,85u 39,T9 425 935 CW No
39,91tl 35,929 9A9 975,397 929
39.939 38 929 IOOA IWb.WOCW
19 Wi is 929 IOW I66.000.W0
40 C11 38 9:9 1,092 1 032 On0,W0
39386 3899 -7 AM 910
00 DT 311929 1 Im 529 665 316
40 139 36'm I;50 960,295,70
N 81V 38,929 1'_AI 1 W5 7 LY,692.
40 210 38 9N 1a1 CAR 951)91
40,476 1&029 1.599 I,C@ 501 575
40135 30 r9 1 206 1 206,W0 WO
40142 1A 9'_9 121J LOG SOO,CW
.10146 39 T9 1"_19 1219 NO W0
10.211 38 929 1,302 11J02 NO WO
43 19n JO 929 4,267 "_1L;W BYY
30 531 A91 636
Topl lRIUIUE Iv nl CMI 81 293,886
WAN IR D,y, lit,02