HomeMy WebLinkAbout9/16/2009 - STAFF REPORTS - 2.E. �o pALMsp�
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q�'F01114p City Council Staff Report
DATE: September 16, 2009 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
July 31, 2009
FROM: Geoffrey S. Kiehl, Director of Finance and Treasurer
BY: Department of Finance and Treasury
SUMMARY
Attached is the Treasurer's Investment Report as of July 31, 2009- The report
includes the face value and coupon rate (if applicable) of the investments and the
source for the market value estimate. The City's total invested cash is
$100,776,532 plus $22,843,346 in bond issue capital projects, reserve and debt
service funds. The market value of the invested cash is $101,502,472.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of July 31, 2009.
STAFF ANALYSIS:
The attached 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, debt service and related
funds.
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 ($500,000, 4116/18, 9.8%) exceed the 5 year
limitation on maturities (Detail of Investments, Long Term Investments, U.S.
Govt. Agency Securities). The investment in question was purchased prior to the
adoption of the 5-year limitation. Since it appears to represent no additional risk
either because of credit-worthiness or liquidity, earlier councils decided to allow it
to be retained in the investment pool because the yield is higher than attainable
City Council Staff Report
September 16, 2009 — Page 2
Treasurer's Investment Report as of July 31, 2009
under current market conditions. We recommend that this exception to the
policy be continued.
The weighted average maturity (WAM) of the portfolio is 198 days. The
maximum WAM allowed by the Investment Policy is 1095 days. The current
portfolio and expected revenue cash flow will be sufficient to meet budgeted
expenditure requirements for the next six months and the foreseeable future
thereafter.
FISCAL IMPACT:
None
Geoffre)rS. 6ehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
trc&SMp CITY OF PALM SPRINGS
827/2009 TREASURER'S MONTHLY REPORT
Si]MMARY OF INVESTMENTS
DULY 31, 2009
On Call Oc osils Adjusted Basis Category I mal Pcrcemage
Checking Account S -1,475,322
Scale Pool 80,000,000 Y 78,524,67$ 77 927
Short Tenn Investments
(I year or less)
Mortgage Pius-fhrus 1,701,243
Time Deposits 1,846,5011 3,547,743 3 52%
Medium Term Investments
(1 year to 3 ears)
Corporate Notes 2,7$5 430
Mortgage Puss-Thins 1,420,087
U.S.Gov't Agencies 7,000,000 11;05,517 11 12
Long Term Investments
(3 years to 5 years)
U-S-Gov't Agenmee 7,498,594 7,498,594 7.44%
$ 100,776,532 100 007
'"Some investments made prior to the implementation of the
current Investment Policy exceed the 5 year limit.
�1
Irr�srxP TREASURER'S MONTHLY REPORT
e127!!_>fIG3 DETAIL OF INVESTMENTS
JULY 31,2009
Cwpan Y,S ld Adrveicd (memu mdp) pmrQlr
Pc Val Y Ra[a Ruhr4 Vamaly iDW ww Cost Bass Catcgnry Tal9 Aimkcl VuWe S.e hlvl.cl Galuc
On Cu0 F1L2wns
Checkmy Bo ofAmee,- 5 NIA vWsble AAA open 0151, 5 1,475,322 S 1,475.322 5 4.M,053
Local Agency b,ea Fwd(L.91F) SO,O .WO wable }rA epen LNil. 80,( .mo 80,104,379 LNF 80,146363
18,524,678
Short Term hnx•rmenls
I cr-or[as)
.l[aayoe}Pz,s-TMv
Federal Home Loa Vmpp Corpamhmr 5'.0,COG 450. NIA 09.•ll1A79 o17Y. 26,6]1 34.521 BNY Western Tr 90,172
Fedcml Home Loan Slongaee Corparahmi 3,W0,600 05035 N!A 1ClN149 >4335 [43,747 148,619 BNYI'7eslem Tr 154,185
Fxdeml Home lean 4lmlgagx Cmpemhrm 2,050,C00 45f 1. N!A la))b 9 501% 191,918 194,317 BNY IVbs4m Tr 21D,079
Fedend Nohmal LMW,.,A ecmh. 2,7003" 4RN. WN alA)]1110 49l% M3,192 265,718 BNYW,stem Tr 280,405
Federal Nohmsl Nl -.,As®nehen 2,500,m 4.5W.. NA aJOl110 446% 3AO52 312,693 BNYWwe.Tr 334,862
Ped.ra[HumeL Cnrpamhw 1,455,CW 4501. NIA onit10 5221 200,L•25 218,214 BNYWeslem Tr 210,261
FLdeml Nnhcoal Aicaea,Assenabon ],D30,Cs10 40U,. N.•A aLblld0 o12°i5 170,678 182.089 BNY WeY.ern Tr 195,669
F�dcrul Hume Los MMp.,e Corp,rehrm 2,230,CW 4510,5 KIA 0].4]1t10 ,293. 406421 434?07 BNY 09eswm Tr 470,144
],TOI?43
Tmie BePos4s
CD.4ecmiel Rc."Se oe ICBARS) wo,CW 3OfN.. AAA 07116•Y19 300" a 0 Pnlm➢cxrl N.1 Hank 940,oW
CD.4ccem1 Reps"Sery (CBARS) A765W 2 NSA MAIM 23]°.; 5.16,5W 9G,5C0 PA Dcszrtl•_. Had. 905 W
C➢Acee.v4 Remw,Se .(CBARS) 9A,aW 160% .AAA 07RAB1 161°l 9'o,CW 940,ODO h]m D,. N_. Hank a
1p6,500
A4�nm Tema]n•e•hnmis
[]year[0 3}ems)
Cmpmott tialae
PreB.Ferga$Campwy Rw.o ] 3.98% AA- kC29.40 4.20"/u 795,1E-0 819,368 Bob R'e•lem Tr 8[5,136
SBC Ca mmrenhms be i,COJ,OG] 5.305'° A W15110 5 17% k,04,150 1.041,020 H\Y',L•e,[ern Tr 1038,210
Wdna=-n S.eLu Goep,N, 13C roW 5.0./"/° A Mull] 5.37% -86,120 1,037,330 MY71•a[xm Tr 1,027,510
2,78,,4]0
hlanyagx Pass.TLrus
Fedval Hane Lamhiaagage Cmp�l•on 1j70,OW 5.00% WA @bY AU 5.]5Yo 253,IN 265.291 B\Y W.t.Tr 276,858
Fedad Nmional MorLSVc Asmciahcn 50$oW C Wib NIA 10 HAa 4.95!'° 114,914 143,800 BIYWW,I.Tr 1,2,621
Fcd,d Home Lao.Bmk 775,OW 475'.6 NIA 10t25t10 4.88!'u 400.244 421,416 Tr 434.443
Federal Home Loan ModgkL Cerpm.lwn I,015,552 4naio NIA 02A .'Ll 5.24% 291,%3 314,911 BNWW9.L.Tr 334,449
Federal Hane Loan Mf dgaec Cmpexnan 695,W0 40Ro NIA 0 .W.Al 5.22% 255,225 277.349 BNYLS@.,kem'fr 287,W0
Fed..-ral Home Lash hfortgsEe Cc--pnatwn 21-.7p00 450in NIA 05171.s[] 5.17% 73,697 78.226 DIN 8W t.Tr 82,272
1,4M,097
r�
] 5,cp TREASURER'S MONTHLY REPORT
82712W3 DETAIL OF INVESTMENTS
NLY 31, 2009
Ccv�n Told Adj.kd (memo udy} Paar Qv
Par Value P.ma 1Lm¢g Flamm t.Mm-it, Cell➢.. Cabsry TVd ➢f A� Yalu Source Market Wa
US Gott Accay Ssvntixs
Fxdeml Hame Lns Baal 1,0W,OW 410% NIA CS-2411 1 410:i 1,C%003 1,031,8b ➢NY WV ,tem Tr 1,033,125
Fedeml Honc Lan Hank k,CW,Op] 4 134: N1A C gVl1 4 ON 1,C0,003 1,031,8b ➢\Y SVe.[vn Tr 3,033,438
Fademl Faan CrcdA➢anl, I,CW,ON 41". NIA 071M111 4[MI. 0 0 ➢WWmtan Tr ],0W,625
Fedeal Hume L,-rBauk 2,00,0N 55011, MA 07l27111 5oov. 0 0 ➢NY W.rt.m Tr 2,ON.5W
FwtrwIN..L,; Ba.& I,CW,ON 5oG% WA D?Mll1 5'M ❑ 0 ➢SYWMe .Tr ]00;,750
Fedcml Fawn Credo]➢a-& I,C09,ON 4Dn" NIA Mel ill 4C0?5, l,CU0,C a [,0093S BNY We W.Tr ]W3,750
Fedeal Homu L., B k I,CO$OW 325% NIA 1]AM]1 325V. 1,N0,C08 I,014363 ➢M WIV t.Tr 1,017813
Fedeml Homc L.➢aak I,CO3ON 4WIS NIA 0933112 4WV. LIC-3W0 I,08,125 ➢NYIVc=tunTr 1.010,625
Fedeml Han.Lour Mmlgag.Curpamhm I,COB4O 402o NIA M135.92 4@Yo I,ND," 1,027940 ➢NYIVcnamTr 1,030,120
Federal Hane Leer Haul. I,C000N 2.SOi8 NIA MIM112 2.50'.i I,NO,C09 l,CA1,375 BNYWc,cm Tr 1,003,PYJ
7,Oe0,N0
f Lnoe Term]ovcslRrnt
i (35eJ�ta Syears)
❑.S CDVLAaevGe&-Tano
FeMcud Hume Lour MmgaSc Cur[ mhrm 2,N,GW 275% NIA [2124.92 275% 2,OCO,WO 2,N5,5N BNYWestem Tr 2,CW 520
Fed mW I[umc Lomr➢a-d, ],L aw 2.3W. NIA 12124,112 2.M. 1000,W0 k,Ng938 BNY1Vestem Tr 999,C58
Fedcml➢ane Lo.MW Sa Corpamhm ]G Cw 2 NIA 1212&-12 2.5W. 1,0000D ILWS,C0 BNYW'e ,mTc I,07,120
Fedeal Nah..l Nl� pA..mlma ]Wolf 305% NIA 0I.V2113 3.05°.., ],0W,N0 BNY WL' mmh 0
Feeral Hame Lr.Mml nCarpamhm 1,000003 2.251,10 NIA 018CA3 225% 1,mq 992,520 BNY LVx7em Tr 0
Fzdeml NohcaWWlpp A..mhco ],CFlp,00] a.0]:o NIA MUM 4.00I,"u ],OCO,D.90 I,WI,25❑ BNY IV.Ixm Tr 0
Fm.nc S CorFs,hao(FICO) 5W,CW 988:o NIA 04,MILS 9.80% 4N ,594 707,5W NahomBmk 692,969
7,493,5N4
Tci]]oves:ai Cash S 160,774,532 S 101,b2,472 S I09,1833884
TREASURER'S MONTBLY REPORT
treasrep MISCELLANEOUS AND TRUST ACCOUNTS
V2712009 JULY 31, 2009
Yield Adjnsled
For Value Coupon Ra1nrg Maturity Io Mahirih, Cost Bases Category Total
Total Inv sLcd Cash $ 100,776,532 $ 100.776,532
5 100,776.532
Misccllaneom Accounts
Peay Cash 3,900 NIA NIA open none 3,900
Revolving fund-Bank of America 13,862 NIA ARIA open none 13,862
Tnis[&Agency-Bonk of Amenca 1,195,548 NIA AVA open none 1,195,548
Dosanpayment Assestance(Housing
Hurd)-Washingrnn Mutual 33,652 001% N1A open 0011/. 33,652
Workers Compens almn-Bank of Anrerica 8,231 NIA NIA open none 8,231
General Liability-Bank of America 29,594 NIA NIA open non: 29,594 1,284.787
Deposits Held In Tnu1
Time Beposils
(FDIC hvcured)
Gnaraoly 13 mil:(Coyote Springs Apo 20,372 1.99% NIA U2412010 2 00% 20,372 20.372
Total Cash Dcposiled $ 102,481,691
M
TREASURER'S MONTHLY REPORT
vxavr.P BOND ISSUE RESERVE,DEBT SERVICE&RELATED FUNDS
cunpm9 JULY 31,2009
Cv n }Ad 6'9•hd (m monh) NorQlr
Nrtlax M. Ralug N�t 1.hr., Co-[Hau Calecop Taal Vasa V,c S"� NA A%W1
199I.W.M M Cngs Cml.r
A1M11 Gmm & cpm 0.W% s,gA),424 �09424 IM 14'e'-r.Tr 5,869.i92
3139.424
I PWL A.p l
AIM1SGaa�.vlSAmq VaRrNwla 3.060,010 004% I.W.0, 1.a4{C65 RV W' i.r Tr US94S5
IiNW15msB Honig
TL1[Grxrrunl&A-m:s fte Fnrale 317,4T 'a tl,!c ACA ryrn 0.0l4. 811,547 U7547 HW Wag—Tr 472433
327,a 11
19)4.C4 8en-sA&9
AW GT:rm.ol&ivy Po ?rn Il 3.331,293 "-bit AC4 roT 0M; 3.3n.193 lli,293 ➢W W4�.Tr 3,o 1 U67
1S58-R8 Aires Pi C
AMC ,.—m L Anmx Md Prnac [,183p53 ."It .1.i1 can ON", 1,110,0o3 1,mj.m3 9WWV .Tr '-AM
1,F83,R]
1998.L.ssVw.n:Rya 155 ARFl
AW Cvsmmm LAc m'Rne P.-- 289eU2 sarnhit .LC4 9,n 061•e 219.602 259,602 R\Y 1V.• .r 2A9.591
289.02
1CAI Ae K-wro➢ilina 157 1
AR1 Gnx r&A,.,,AW P.1 1ET" 6 ,-bin OW:, 1•7.026 l8],026 OW Wl.Tr Ib1,018
187,01E
2002 P. SI .wr
Cash 3 1 13NY 41'a m Tr
NM Gasemrnm 4 Aycn&nFPms 9558 .aoblc LLC 9,Yn 0 Wb 9,o5A 9,556 ]NZ Wl.PT 11129
9"61
100V 4s.:snrt➢u1n.1161
NM11 Gosemm=l S.Ss�++PcrlCPniss 411775 n hl- .fA.4 ON% 4l2.iic 412.771 l3hY ll'� TT 412.7,E
4123M
211N Gislrnl 162
NM11Gosnn.,&A�NNFN%s W 161,]34 5anabl: "I. 351.M 1fi 1.7L 6hY ll':=I=TT 161,728
161,134
lbA A:..:.—m Gs+r-1 I61
,SL54 Garm�alS 4gmn Fe'CM'3w 1E7,5N i-- ablt R.SA 0."i. 167.5e9 367.51) 3h7lt.-nem TT 367.514
WJ19
-lOil M1frr�td P.v5tt1 A I&92
ALVGrx�184mcs Noun.. P455,515 ,-r±ny k1AA c4.c 0.05'e >_455.g6 1,495,50 ➢hY Wc4n Tr 7955.261
S,OVJ46
Y•YARehldu.3l�x Rz%trax
AW GO,xrmml&Asmn FonIPTlrala U O.Wi- 31 22 IRT WS ,I.Tr 32
32
INS,L-pa PFC R:,,A�
Mt Ca-3 w R Aem.p P..f Frisaln &N.141 s_-n.''.'x A4A cps 0.0:} 6.i 141 648,14[ ➢HYW'0,oTr 646,141
614.141
T.ia S 22,843,A6 5 22}43 m 5 23,119.Al
treasrep TREASURER'S MONTHLY REPORT
08/27/09 CALCULATION OF INVESTMENT LIMITATIONS
DULY 31, 2009
Allowable Percentages
By Maturity; Minimum Maxnnum Current Mo.
1 day to 365 days $8,000,000 NIA $82,072,421
1 year to 3 years 0.00°% 50.00% 11.12%
3 years to 5 years 0.00% 30.00% 6.95%
over 5 years NIA NIA 0.49%
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% 1.83%
Corporate Notes NIA 20.00% 2.76%
Money Market Mutual Funds NIA 10.00% 0.00%
Mortgage Pass Thrus NIA 10.00% 3.10%
U.S. Government Agencies NIA 50.00% 14.39%
U.S. Treasury Notes/Bonds NIA NIA 0.00%
00