HomeMy WebLinkAbout1/17/2007 - STAFF REPORTS - 2.E. �O pALM S.
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City Council Staff Report
DATE: January 17, 2007 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF NOVEMBER 30, 2006
FROM: Craig A. Graves, City Treasurer
BY: Department of Finance and Treasury
SUMMARY
Attached is the Treasurer's Investment Report as of November 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 November 30, 2006
STAFF ANALYSIS:
The attached monthly Treasurer's Investment Report is for the period ending November 30,
2005. 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. L . C.
City Council Staff Report
January 17, 2007— Page 2
Treasurer's Investment Report as of November 30, 2006
The weighted average maturity (WAM) of the portfolio is 438 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 ,J
C:achments- Treasurer's
aig . Graves, City Treasurer
A Investment Report
treasrcp CITY OF ]PALM SPRINGS
12)28)2006 TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
NOVEMBER 30, 2006
On Call De osils Adjusted Basis Category Total Percentage
Checking Account S 1,181,379
State Pool 23,390,000 S 24,571,379 36,96%
Short Term Investments
(1 year or less)
Time Deposits 2,5W,000
U.S Gov't Agencies 5,500,000
U S Treasury Note 1,979,974 9,979,974 15 01%
Medmm Tcrm Investments
(I ear to 3 ears)
Corporate Notes 1,983,760
Mortgage Pass-Thrus 3,559 724
U S.Gov't Agencies 19,235,575 24,779,059 37.27%
Long Term Investments
(3 years to 5 ears)
Curporaw Notes 986,120
Mortgage Pass-Fhras 3,668,862
U.S Gov'[Agencies 2,498,594 7,153,576 10.7614
Total Invested Cash
S 66,483,988 100,00%
Some investments made prior to the implcmcmanon of die
current Invesimeni Poly exceed The 5 year limn.
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TREASURER'S MONTHLY REPORT
1 xr_aa❑Bs DETAIL OF INVESTMENTS
NOVTAIBER 30, 2006
cooPz r l0 Aarv:laz f>um,a.] Prmr pi.
Pz V•zne Rax R._nni hi..y [o Afwnly Curl➢au Cv.,.,TM bl-krr Vale Suw M1[aka Vxl.c
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GoldMv S3Ch G-uP,Ine I,CW,CIq o0n A" ollbA] i3]R MUM 999.S.M ➢85'R'e=mr Tr 0
985,1YI
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Fai•rrl l.olioml gotlgrg-.Isswiainn 1,'A.TI,CCD J 504 NIA 01MAD J 91%
7❑9,2W TSy,13? IlNY fVrv.•rn Tr ]31,fr'3
FJ rxl luliom111cng;e.i•sonminn 1�CD,(CD 450: KA 02VAH 4. 5- oW,5£6 1gjn WYY W,,n Tr 769.691
Rd¢.1 HT.•Luau k1¢uae.CuT�Oun 1.355,OV b Al WA Mille UN b5.f61 ibAL 6Ht WV ..rn Tr 519,8'XI
RO:ral Horn r..."htm ny CUT—eurt 1.10AW.) =.00 a KfA 0101110 5.19� 9n5.171 9 .oA BKY Widen Tr 05,135
Fdeoul l[uv,L n Bs1 PlS,D'i3 E 7,% hfA 190511❑ 'J.€SG. 51>,M W.143 B!R Wulr h 623.103
Fdo l llum:Lon M1:ortyge Cc,..,. U],Dl] C Jw @r,4 0501111 5.3]a 133,116 6<.I03 B1.R W of Ti 137,427
1,653,aT
L'S Gm I Ayn.y Eunns
Fucnl Hcm.L:a Ilarc I,M.M i IDR MA 1:.G,.`B3 i N% ],Ipl,❑W S8t,813 ➢aY H'u1.r�T: 91e,1S
Fa'..r1 H.m�Lc.�Il3n1 1,m.m i 15% NIA WR:110 A\UR 1,W8,0❑0 SB0,933 ➢NYWnmm TT 9i5,61
Fa3 rx1 H.¢e tm,6vh l,rO.C! 6❑]4 NIA 1 r11 6.03% ❑ 0 ➢YY 5f'amm Tr 1.003.313
F—I-CexOonlion IRC01 Rorp 9"- qM Dlnla 90% 499N 7[1M Nxiort,nmk 70I.M
1,S98,o9]
SvS lny�r�Cv➢ 5 66 JM SVS fiL.55TS54 S 73.730,433
TREASURER'S MONTHLY REPORT
[reasrep MISCELLANEOUS AND TRUST ACCOUNTS
12128P2006 NOVEMBER 30, 2006
Yield Adjusted
Par vaiue Coupon Rating Nawrity to Maturity Cos[Basis Categmy Total
ial luv saed Cash $ 66,483,988
5 64S,483,988
S 66,483,988
Miscellaneous Accounts
Petry Cash 2,925 NIA NIA open none 2,925
Revolving Fund-Bank or America 14,422 NIA ;,'A open none 14,422
Trust&Agency-Bank of America 1.387,235 NIA NIA en p none 1,387,235
openDownpayment Assistance(Housing
Fund) -'Washmg[on Mutual 33,482 ❑actable NIA open 0.40% 33,482
Workers Compensauon-Bank of America -87,113 NIA NIA
open none -87,113
1,350,951
Deposits Held In Trust
Time Deposits
(FDIC Insured)
Downey S&L(Cat Cyn Country Club) 65,045 4.40% NIA 21I112007 4 40% 65,045
Downey S&L (Donovan Bequest) 13,811 5.12% NIA 6/7/2007 5.12% 13,811
Downey 5&L(Palmer Cable TV) 5,019 4 40 Y NIA 1/18/2097 4 40%
,019
Guan� Bank Co ate Springs A r) 18,032 4.67% NfA G2412007 4 67% 19,032
101,907
Total Cash Deposued
$ 67,936,847
TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
NOVEMBER 30, 2006
Ccupn Yre}d Adjusted [merue an1y) Pnor[itr.
Par Value Pale Ruimg Ntamm} mNrnuil} Ca,Bur, C=S.Tua] NL lcl Value Sour« M1Lulcl Value
1991i M01 N Cunnauuu Ccmer
AIM &Ag,.,Pont P,,,e '67,3W tiazable AAA open 4 91% 467.39]A;r AEG 7ov -0fi]39? BNY 4'c¢em Tr 811,272
esmicn[ z�mcor l,280,6i3 i 36% AAA I IIMM 5 36% 1?80,673 1.2W.613 BNY Wot rn Tr 1,280,643
AEG luvc,imen[Ag�cum 1,290,W] 6.68% AAA HUM 669% ].Mow 1,290,0]0 RNY We.,1em'Ir 1,290,P10 MB1A bare„imeu[Ageecu., 3,300,40t 5 5E% X&A 12,M85 5.584, 33W 4D2 1.100.402 H3W l r' u,m Tr 3.100,402
19321M Arpmrt 6,3,9,472
C.h1,119 1,119
AIM uc 1,119 BNY W. .Tr 985
.9iM1t 54nn Term lnvTm]irVal ],4A�96 ramble AAA rrycn '91% ]471.19fi 1,4➢1.396 11NY R.W.Tr 1341,788
1991fol Sans R Huusue 1,472,515
AW Gmrrnno-m&Agency Pent PnraN 9,155 vuiahe AAM1 op.n 491 4,15, 4Ib Y I.".Tr4G lnum,l Aeacmm 4,123
AAA 08HA121 522H 469.105 =6$105 BNY W. Tr %Q€6u
]WA NA 3eara A&B 372X0
AIM Gorcmmcnl&Age�cy Ponf Prisarc 3,277,289 vamble AAA up:n 49[8 3,2➢],2€9
h ],2]7.259 BNl'154•rem Tr 3,252,i47
fB1A Inve,rcn nrt Agzrncor 1,651,45fi 5 1755 eUA 0941134 5 17% 1,651.456 1,65]456 BNY Wo,.Tr 1,451,456
3,928.i45
1995 mwu'le Capital BUJiu,]'rujett
A]M1S &ASruey Paar P,r,, 1,097 ram6lc AAA men 4.91% I'm 1,09] BNYR'ms Tr 556,g62
AM1t9AC lnr,sun-ol Aemem.n[ 1,729,689 640% .LA 04MI127 6A04 1,729,689 ],i29,689 BNY W.W.Tr 1,729,689
[998 Anpua GARB 1,130 ib6
AIG lnseam-al Agr -RZCM1C 561,22E S..D% AAA 01MU28 570%& 561,22]
M Gorc 561,221 BNY I4Y[em Tr 561,221
eVamur5 .l8enc}PorzFPrndc 319,703 vamhle AAA epen 4.9[% 319,7W 319 703 BNY Wesmrn Tr 235,60
850,924
TREASURER'S MONTHLY REPORT
aasreP BOND ISSUE RESERVE, DEBT SERVICE &RELATED FUNDS
1 R&M NOVEYTBER 30, 2006
Caupoo Yield Ad,.LA lme o v) N.Qu.
Par Velue R,1c lZmg lfamny (.az m, Cos[0asls CaiepryToW Mf _VAlo Scurw bfazla Vdac -
[998 Au"a PFC
A[G Iavomeo[Agr Re•xne 839,726 5 70A AAA DiAllo8 5.708 949,T2R 819,T26 6NY Wa1em 3'r 8:9,728
AIM G�emmem&Agrn.y Pont P.,am 502,415 +anAl[ AAA op•n 4911 502413 502415 OW Waiemh 366,775
1 352 143
1998 bwdpie Cap,n1 Wz+4waler
AM Go+e [&A,c ,,Pon,PnvaOc 301,915 ramble AAA qw. 4 91 A 303 9[5 101,915 BNY Wesav Tr 348,611
'_91,915
I WO Assevm.L➢isua[55 AG
.AID]Garcmnum&Agcncy Poaf Pnv_!e 3P.M variable AAA op:o s 91% Yd1,788 304,788 MY W.W.Tr 302,5n3
304788
2001 Dss,.a 157,1158
AMf Govcrnmeaz&AS.,Poaf Prnare 174,369 +'anA., AAA oP-a 4.91 F 174,369 174,3A HNT 64=rem Tr 171,063
174,3W
2rU2 ParLng Rruco�r,,
Cash 1 3 3 BN W.wm Tr 3
AW Gommm:el&Agcncy Po [Pnynic 35,251 v.ble AA% open 45[0 35,25[ 35.�l 6NY Wale.Tr 36,47G
35,254
2061 AS,eS LRsnc[161
ARf Gavcmv g&Agency Poaf Pnvgc 412,362 ranabl: AAA op.-n 4.91 S 412,362 412,362 BNY%rmcm Tr 401,270
412,362
M04 Asse,�m Dm is 162
Cazb 0 0 0 BNY We, m Tr 54,428
AP.1 Gorervrvea[&AR�.y PM[Private 346,i0[ ramble AAA oPcu 4 91 a 346,70[ 346,701 6NY Wesem Tr 20 W?
346,701
2MA5 As«s.m:m➢isaf.,[61
AI61 Garcmm+cl&Aecncy Paaf Pnv.ie 582,590 ...able AAA open 4.91% 562,590 592,590 Bw WE".Tr 378,228
5R2,590
T.mr. 5 19.331.824 5 19,333.824 5 19.854.010
treasrep TREASURER'S MONTHLY REPORT
12/28/06 CALCULATION OF INVESTMENT LIMITATIONS
NOVEMBER 30, 2006
Allowable Percentages
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days $8,000,000 NIA $34,551,353
1 year to 3 years 0.00% 50.00% 37.27%
3 years to 5 years 0.00% 30.00% 10.01%
over 5 years N/A NIA 0.75%
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 t5.00% 0.00%
Certificates of Deposit NIA 30.00% 3.76%
Corporate Notes NIA 20.00% 4.47%
Money Market Mutual Funds NIA 10.00% 0.00%
Mortgage Pass Thru's NIA 10.00% 10.87%
U.S. Government Agencies NIA 50.00% 40.96%
U.S. Treasury Notes/Borids NIA NIA 2.98%
Ctl[uWGon al WnLIUN Arx Muwufy
FLemc Gimp. No.1 Ou9 %Cml
um �1ue mr.
39,051
39,052 39 051 I 1 181 379
J9,03. 39,051 1 '_i i90 000
39 115 19 051 fit M p0Y U'0
39 115 39 051 64 64 Ono 000
39 163 39 O51 112 59 uuu lNU
39 003 39 on 49 0
19 1W J9.051 69 69 000 Coo
301^ 19 Oil 71 91 uW uuu
3'1340 39051 IA9 IP90M Ono
J916? 14051 J16 3160W WO
39 301 19 051 110 163 m uuu
JY 414 39051 363 361 WO 000
90.111 19 u51 'N 44,6313U
J9.63 39051 31'_ as 95'_50
19 1116 10 051 3]1 166 994 150
39 478 39 051 423 433 016,090
J9 543 39,051 491 CPI 603 100
19 C.00 19 O51 AO 17070:600
39,661 39 O51 GIG 105 050 540
J9.69L J9.01 641 340,315 499
19 15i W n51 M2 "S.,I5 460
39945 39051 794 "_5n 161 fi61
J9.Yul J9.01 953 333 466 951
19 965 10 051 011 114 A, u.
49057 39051 1006 436051DR,
19 W 10 O51 393 JYJ Ouu 000
39433 39051 41_4 1_11 000006
39 NO 39 O51 455 455 999,000
39549 19011 Wl 'M M0000
39 09 39 051 55tl 558 000,000
39 612 39 011 361 1 119 931,495
39,65C 39 051 609 iN SOO non
3Y.GW J9,051 617 617 OW,000
19 696 W O51 &16 hp UW 00u
39,749 39 051 693 533 710 non
J9,15u 39,051 699 699,M 000
39]69 30 n51 918 711 WO UOu
39 797 19 051 ]3( 716 00n 000
39 Y54 39 031 903 803,000 000
39 U4 39 u51 07 un.uuu uuu
39918 19051 P69 M7Mi 9W
39937 39051 996 AA60W 0'.q
39 99J 39 u51 943 942000 000
40 135 39 051 1 091 1 uuu uuu uuu
40 1C' 19 051 1 091 SIN ion W0
40558 39051 1509 14%M A40
+0 u9 39 WI 1 1:4 uuu uG1.W.
40'_10 39 051 1 159 SRO 139 174
40710 39051 1159 9760,16376
40299 59051 Ib1R 1 J92 065 Q04
40 436 39,051 1 425 tlll 584 9'S
4n 664 39 U51 161l 113 103 109
10.149 39,051 1,097 1 097,000 000
In"_11 39.051 1180 1 mu OOO ORD
40 119 39 051 1 1'_R 0
'13.196 3Y u51 4 145 2 OG6 672,130
'_9 111 389 R3C
Tw11111.L I 1 66.191968
WAM In In, 13161