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HomeMy WebLinkAbout11/1/2006 - STAFF REPORTS - 2.E. PALM S,'1P • A Z v, • [a N ' � k I c�`rk°RN, City Council Staff Repo DATE: November 1, 2006 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF AUGUST 31, 2006 FROM: Craig A. Graves, City Treasurer BY: Department of Finance and Treasury SUMMARY Attached is the Treasurer's Investment Report as of August 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 August 31, 2006 STAFF ANALYSIS: The attached monthly Treasurer's Investment Report is for the period ending August 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, 4116118, 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 of 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. Item No. L . G. City Council Staff Report November 1, 2006 Treasurer's Investment Report as of August 31, 2006 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 413 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 Craig . Graves, City Treasurer A achments: Treasurer's Investment Report mreasrep CITY OF PALM SPRINGS 10/10/2006 TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS AUGUST 31, 2006 On Call Deposits Adjusted Basis Category Tom[ Percentage Checking Account S 727,880 State Pool 36,390.000 S 37,117,880 47 15% Short Terin IOvnunenLS (I year or less) Time Deposits ?,500,000 U.S.Gov't Agencies 5,000,000 U.S.Treasury Note 1,481,484 8,981.484 11 41% Medium Temn Investments 1 ear to 3 ears) Corporate Notes 1,983,760 Mortgage Pass-Thrys 2,711,886 U.S.Gov';Agencies 18,235,575 US Treasury Notes 498,490 23,429,711 29 76% Lang Term InvCSmnenu (3 cars m 5yelps) Mortgage Pass-Thrus 4,198,017 U.S Gov't Agencies 4,998,594 9,196,611 1168% Total Invested Cash $ 7S,725,G86 100.00% *Sane investments made prior to be implementation of the current Investmcnm Policy exceed the 5 year limit y way"' a€ ; nse .s a_4 911"T 'swi 4 cg x s�:waa: i= s iaa a="tl H�eN�a a x s,wr� E uPd E�L�2h�yE EYC rE � �pvau e �f�E0F hrEaE rui1E.0� EE ui�-LcCrE p�au rE' �1'� s3$'s aa_ as 3 ss33 � 33'saai3$3ca_s$3c3t3 ' rs3 ,� m a aw f� �a�am fmwa4 amdm�„m�°a„Ad�, 2 s Zia a�'�� l Re 53°aa N.�s:�s;.e�a?�,�-.a aaaa I � r 9 ?� 2es, eHgea sa sFaE:l k�E?sPt49ss8ae.daei'�e a1 � � a � '� 5d9 a^aa°5&Y �c of Sgffi-� _.._Sa`sa�a"o off'=:1Eava5 _ W u'i iYYy.'i iY 51 99Yr:'f, zYX'f..cYZYZXi.ciiYXf'r'uz r a has ee�aa$tt as M 2Bs a'se?a.nq = H fill! =esa1 81 2 aaa?Eea� ss?e§ R & 2 e gy d a fi t tilt! WHO up q qq q yy L a d�di p�pHO5 ? � Han _ r���9r�r2 n E� !u jMAMI r�r3' a Ism Fp�.5u9u99�'�sH 5WHIM.— its ��9's". IJ 3 � PIDQjj � Ep 9 €EIIA „ ' EE � `I 99 �g � t � .0 z"xc Joh Y x M a�i_ 5 'eg .u� a=�a� tlai�apr22EL+ �e c pt, ' iota a`c.i ny .Ji ei, 9: iE� � DO y:� ' 7i'L wii 2 S cn . � asaa �� €; as ;�fg �� s�3:�.�4�Fxa�t�E�l'xa y= TREASURER'S MONTHLY REPORT mn➢fsca DETAIL OF INVESTNIENTS AUGUST 31, 2006 Cor�an iHd .iJ]�Id [mmlo oKl) Pn<Qr Par Valm Rrlc R, "g llxmrnY mblwurl Cosl Ea.� Gl ercy T.a1 1,[vk<r Valw C,uv hb W Valw Logy T•®lmrsww ] r�z m5.zarsl M1[m46x Pus R_vs FeJ•rJ FFm:Lren M1l.,,C�.n ]T1,0.0 4.50% WA 09.VI.V9 JA7%r L59,161 Sfi3Oi3 O.l'YK'xszn Yr 474.458 FN ral N��-ull M1•[c1�a6x AssRAIIS] 3,]D],OA 4.30R WA ➢].VIVO 4 91%M R=ml hf Fgd- i43,84! ➢!.Y We¢m it 791,617 N r -- Pp z ai- MDxM 4,0R .fA @,11110 4.46% 818,'A'1E id8,3N BNY Wc¢m Tr ful ral ye".M1I npix CcG..ri:un 1,4r5[W 4.50% NfA WOMB 5.13R s2,23L 5 ,.M ➢NYWeIrm Tr 4➢.1�RJ ralH�xlum M•nprc Corp ruwn =1.O.CW 4.SOR NIA woll1➢ 5.29% I.M.414 1,fA1,➢54 MYNunn Tr 0 fetlxal]lo=s ...➢.:A T>.fA] 4i51 WA lu. 5Ia 585% 633.514 6ll 512 9.YYWUI—Tr fi4,315 4.1sa.nu LIS Gai.Amm3 Suwr Fv--rl➢wrCrJn tick 1,CW^ 4n.q NIA I] 11W .125.^- ].OA.W) "I.313 Bit W.it 90.325 F.Snl H_..4 BOW JD3.WO 310. NIA IIMM 5IA% SCOW] 494,688 ➢NYW�F.J=N Ek.. —. a r<m Tr Gl]lgl I.W.0c 4.35% VIA W11240]IMM 4.30% 1 cm.mo W5.311 ➢NY Wulrm Tr 9A.m RCJ:r1 H•m,L-BaW I,W'AC➢ 4.35% WA R1111110 4.35% I CIXI,pCO 9i2,A0 ➢NY Wu,-.Tr 9W,63 FeJ-ral Ffcm:fnmESrh 1,11]0.(W fi.C➢% WA [VR4I1] 6.00R 1,CW,0.0 I,W SOB B.91'1l4sPm Tr p Fimrelrh 1.'olFpr�Cll fF1C0) Mo.= 9.30€ hm 01iCar18 9.0% 49'9 i01,?30 670.MD 4.958,395 LcW]mie¢J Cub 5 5il,P3.633 5 TiS51.033 5 30A'L'48 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS W[0i"6 AUGUST 31, 2006 Coupon Yeld Ad,.r (moo enli'1 Pnm Qv. P.Van PLle Rating Malmdy m AlamHry Carr Bssa CaNgory Twl Marti+[Va,Se So Ni I=VJur 199IMAHA0 Conreuca Ccd T AIM Gox mL A,Agency Pouf Pr[vge sm.013 va .Hz AAA open 495% M.013 W8,013 BNY Ws:m Tr 1,08?,484 .MG Nl.s :a[A&z: , 1,280,673 536$ AAA 1IN125 5.360 1.200,671 1,23,673 BNY lSre:mm Tr 1,2S0,673 AIGa,u :ar A&rec.0 1,290,D30 668% AAA 1110121 60% 1,290,DW 1,290,0W BNY Wer,a Tr 1,241CO3 MOTA I ,s W.m A&rc., 3,300,402 5.58% AAA 1]&Ln5 5.58% 3,300,402 3,3W,402 BNY Weslem Tr 3JW,�02 19R'MAirpaa 6,679.009 Cssh 985 9€5 985 6NY Wwe .Tr 401 ALM STOP Tcn kls LTasy Pnrar 1,217,434 ranabY AAA open 495% 1,217,434 1,217,434 B\Y Wcr:m Tr I,[66,622 3991101 S:ries B HI ,mg 1,2[S 419 AAS Gusemmert&A,.,Pont Pnvdre 4,107 sanebl: AAA rem 4.35E 4,10'I 4.107 BNY 1Ve,lem 3} 4,259 AIG h,vc -m Agm:.mre 468,105 5.22% AAA 03101 R] 5.225 460.105 468,105 BNY WV WMTr 4HJG0 1994195 series A&B 472,212 •VL4f Gm•emmenl&Agc y Paa Prrvd: 4,319,190 ranabr: AAA open 4 95% 4,319,190 4,319,190 BNY%Ycsmm Tr 3,216,9L8 MB61 IQymmLW AV mrmr 1,651,456 5 [71, AAA 09M!34 5.17% 1,65[,456 1.651.456 BNY W.W.Tr 1,fi51,456 5,9]0,6=6 19%hlOup[e Capita PaeWal Pminr ARf Goreramxcr&AS,q Punt P+i,aL- 2,274 v,,ble AAA open 4.857. 2,274 2,274 BUY Wcr-m Tr 2,257 AhfBAC].r .[Agreemea 1,729,689 640% AA 04191127 640% 1,729,689 1.729,609 BNY Wcs¢m Tr 1,730,000 1998 AiWaA GARD 1,731,963 MG lnrnlmrml Aga -R.s 561,221 370% AAA O1W12B 5.70% 561.221 561221 ©NY R4s:cm Tr 561,221 AIDS Gos ,[&Agency PonfPnraze l93,894 savable AAA ogm 495$ 193,0W 193,994 BNY%Ream Tr 299,184 b5,ll5 TREASURER'S MONTHLY REPORT IrrasreP BOND ISSUE RESERVE, DEBT SERVICE &RELATED FUNDS 1L+lmm6 AUGUST 31, 2006 CQUNM Ykm AdNsr:d (m;>Io ody) Pnor Par Vane Rom• 1Gimg Mamrrty E.bfamriy Cu•[S-k C=gory Ttt Mazkd Value Source hfarke[Valur 1990 Airpml PFC AIG lnresmaat Agr.-Racrvc 849,728 510% .AAA OLW28 S.M% 849,72a 849,729 RNYIVolcrn Tr 849,7d8 AMf Gm•cmr-urm&Agcncy Porn Priraie 299,344 a -blc AAA open C95g 259.1: 299,344 BNY Waccm Tr 453.WS 1,L49,072 1993 hivldp:e CgiW K'um az�r AN Gaserom,m&AZeo7•Pori Privzse 305,243 rarrable AAA epa s 85%% 30.243 30V43 TINY WraNm Tr 30I.WL 3D5 243 1996 A .,r,rm Di0nc4155 A&B A%f Govemmw&Agency Pmf Ni. 3H.132 +anable AAA o6eo 485$ 31E,132 31[,132 BVY{Rre=rum Tr 308.097 311.132 200L A,cs mml➢i5WQL 157YI58 AMI &ASeay Pons Prirz'e 172,403 rana6le AAA opev S 0,% 172,409 L72,4P8 BNY W.icm Tr 17L,164 I T2,408 2002 Palanj Sim.mrc Cash 3 3 3 BNY W'..Tr 3 AMf Govcrrmi:nlSAecncy Prw-Pnvaie 16,586 +"rbl, AAA open 485R 36.,86 36.536 RNY W. Tr 36.W6 36,589 2004 A-,Sasmml➢innu[161 AM Ga+cron u&AVay Pow P.. 414,855 ramble AAA op-n 4.8a', 414,855 4L4,855 BNY Waium Tr 411,863 414,855 M0 Assesmea[DssWN 162 Cub 54,428 54,429 54,424 BNY V.e .Tr 54,428 AE61 Gorcrnmbl A Agraey Parll Priraic 289,974 +.LW AAA ePcn 4B5 288,975 288.974 BNYWairm Tr 816,951 3431LM 2U35 Anes..MD'enie1164 A l Guve¢mem&Agee<y PunC Mn a[ 666,269 ranabh AAA or,. 4.85% fi66,249 666,269 BNY Wc[+m Tr 661,463 666,269 1'arals 5 211,226,413 S 20,226,46 S 20,12L,436 TREASURER'S MONTHLY REPORT treasrep MISCELLANEOUS AND TRUST ACCOUNTS lanor2Do6 AUGUST 31, 2006 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 79,725,686 S 78,725,686 S 79,725.686 Miscellaneous Accounts Petty Cash 2,875 NIA NIA open none 2,875 Revolving Fund-Bank of America 9,543 NIA NIA open none 9,543 Trust&Agency-Bank of America 1,445,842 NIA NIA open none 1,445,842 Downpaymem Assislance(Housing Fund)-Washington Mutual 33,482 variable NIA open 0.40% 33,482 Workers Compensation-Bank of America -35,784 NIA NIA open none -35,784 1,455,958 Deposits Held In Trust Time Deposals (FDIC Insured) Downey S&L(Cal Cyn Coutnry Club) 65,045 4.40% NIA 2111I20D7 4.40% 65,045 Downey S&L{Donovan Bequest) 13,465 4 21% NVA 101812006 4.21% 13,465 Downey S&L(Palmer Cable TV) 5,019 4 40% NIA 1118/2007 4 40% 5,019 Guaranty Bank(Coyote Springs Apt) 18,032 4.67% NIA 6/2412007 4.677, 18,032 101,56I Total Cash Deposited $ 80.283,205 treasrep TREASURER'S MONTHLY REPORT 10/10/06 CALCULATION OF INVESTMENT LIMITATIONS AUGUST 31, 2006 Allowable Percentages By Maturity: Minimum Maximum Current Mo. 1 day to 365 days $8,000,000 NIA $46,099,364 1 year to 3 years 0.00% 50.00% 29.76% 3 years to 5 years 0.00% 30.00% 11.05% over 5 years NIA NIA 0.63% 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% 3.18% Corporate Notes NIA 20.00% 2.52% Money Market Mutual Funds NIA 10.00% 0.00% Mortgage Pass Tlwu's NIA 10.00% 8.70% U.S. Government Agencies NIA 50.00% 35.86% U.S. Treasury Notes/Bonds NIA NIA 2.51% a'arm> =5�r m A �.,ry^memd 6�2 z p � nea mnm rmnP�n�m eam r.m gn nJ�o v�r mFc � p J �? m.mn mmeam m.vm me..gym m.vm m-�ea rmv .� _-vvve vc-vve _ f f 3