HomeMy WebLinkAbout10/7/2009 - STAFF REPORTS - 2.M.QpLMSA
.y
c
q�lFORN� Citv Council Staff Report
DATE: October 7, 2009 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
August 31, 2009
FROM: Geoffrey S. Kiehl, Director of Finance and Treasurer
BY. Department of Finance and Treasury
MUTFUTTMETA
Attached is the Treasurer's Investment Report as of August 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
$96,123,926 plus $24,766,851 in bond issue capital projects, reserve and debt
service funds. The market value of the invested cash is $96,865,761.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of August 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, 4/16/18, 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
ITEM 1%,o. 2 . H 4
City Council Staff Report
October 7, 2009 -- Page 2
Treasurer's Investment Report as of August 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 226 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 r/�
Geoffrey SZ. Ki/ehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
n
treasrep CITY OF PALM SPRINGS
9/23/2009 TREASURER'S MONTHLY REPORT
SUMMARY OF 1NVESTMENTS
AUGUST 31, 2009
IOn Call Deposits Adjusted Basis Category ToW Pcrccnta8c
Checking Account S 1,069,523
Stile Pool 72,000,000 S 73,u69,523 7602%
Short Term lnvcsrmcnts
(1 year or lam)
Mortgage Pass-Thna 1,561,599
Time Deposits 1,846,500 3,408,099 3.55%
Term lnveslmcnis
(Medium
f 1 ),car to 3 years)
Corporate Noyes
2,785,430
Mortgage Pass -Thins
1,362,290
US Gov't Agencies
6,000,000 10,147,710 10.56%
Long Term Investments
Q years to 5 years)
U.S. Gov't Agencies
9,498,594 9,498,594 9 88%
S 96,123,926 10000%
'Some investments made prior to the implementation of the
current Investment Policy exceed the 5 year loant
tad
treasrp TREASURER'S MONTHLY REPORT
9123!'_009 DETAIL OF INVESTMENTS
AUGUST 31. 2009
Caipa.
Yred
Ad4.•led
(mciw .dry•)
F.ar Qlr
Par L'a[ur
Rare
RelTg
hfald[p
19 A7amnty
Cm[Besls
Cucewy I.W
Tlnika Vafue
SoiLrec
hfx1e[Valve
j0. Call➢xN. ,h E
Check.,g-Ba.koFRmeMa
S NIA
ramble
AAA
....
0[5%
8 I,CY9,523
5 I,8M,523
5
439160s3
Local Ag.:Y�e-t Fu.d(LA1F]
72,Cn0,000
variable
NIA
open
093%
72,CU,OW
12,093,941
LA
80,146363
73.06g523
9iert Telm 7mreslmenv
I 1 vear w les.l
V ml�ex Pais TLI.s
Federal Homx L. A7enengr Co .Aran
570pm
450"
NIA
O-WiN
537'h
20,682
29,491
BWl Wslem Tr
95,172
Federal Hwe Lem Mwlaoge Cm I, an
3,OW,WO
>SQEi
NIA
l0 u!
543!i
119555
123.958
BNY 64skm Tr
154,185
Fedeal H.. Loa. Alrcreagr
2,050,0.30
4500..
NIA
Ionl.b9
50%
177791
179,949
BNYLVeslemTr
210,079
Fedeal Nmion.d hkoacnoe el cia.cm
"M.Dw
450:5
NIA
011n1I10
4.91ki
216.671
250582
BNY Weslem Tr
280,4M
F&TANauonalh[oacaac A ,.Llwl
33CQN0
450'.:
NIA
02431I10
4.46!i
284699
289598
BNYIVcslem Tr
334,8b2
Federal Homy Loa. A[oacoax Co:p A.a
1,4o5,L
450ai
NIA
02-n1llo
522%
185,140
201.671
BNYIVslcm Tr
230.261
Federal NaLlo" hfoagocc Asmlutl.
I,MWoD
40FPi
NIA
03-n1110
51211
163,4.3
174339
BNYIVg.Tr
IR6,659
Federal kro-ne luo. hloagnae Ccepm .
2,280,030
A50'i
NIA
05 n1110
5241i
373,6a3
400,641
BWIVcslcm Tr
410, L44
f i61."
TJI S B2F'U 513
CO Attoa.[ Rvyisi,Sxnacc(C➢AAS)
mcC
300..b
AAA
01[oV9
3CQ!S
0
0
Palm Bxsea Nat Sank
940.M
CO Accaam Re,_,ry Sersree WDAR S)
W6,500
230e1
Akk
03.41tl0
233N
905,5W
90550
Palm Ne wN,I Bak
9KNO
C➢Aecoum Re&i Sense ICOARS]
NO,O
16U.S
.A.N
0710110
1M1.
940,OW
940,000
P.lm➢esea\-I Rs-
0
[,846303
NIM. T-,
[1}xaz[o3yxam]
C.f1>Ofa2 i;e125
%VOL Fargo&C."p
soow
398!o
AA-
la29.110
42ff,S
795.10
817,956
BNYIVecl mTr
815,116
SBC C.T.m_vmazioiu, Inc
I,W0.003
530'.o
A
III ISIIO
317';
1,005,150
1,043,410
B..W%%!cm Tr
1,038�210
Caldulrn Soehs Gro.P l.c
I,Nkaw
50Y.o
A
OMNI]
53io,
986,[20
1,039,080
➢NY%VeSem Tr
1,027,5[0
2.785,430
NkAgagx Pa.s T4.vs
Fed.,J W. Lea. hl,,ugr Corymaho.
[,3 i0,Od3
5WWi
TIA
09'01710
53>95
238,78G
250,17.0
B\Y%W,• mTr
276,858
Federal Na0.,,"Iw.ag M.W.
5w$
4 Wii
NIA
lomill0
49o°u
[28,82a
135,569
BW Wettem Tr
151_421
Fednxl Elwnr Loan Bars
775,000
475b6
NIA
[012590
488°i
400.613
414,742
BNY We•[em Tr
434.443
Fe&al Home U. Aloaooee Cwpwal on
1,013,552
4o0&
NIA
0-1wh1
5249L
275,670
297,592
MY%Ve,L. Tr
334.449
Federl Rcae Loa. NW"., Cwpwdla.
695,030
4DMi
NIA
0Nd0B11
522%
247,662
268,173
M} SVc,Ler Tr
287,900
Federal Hr c Loa. h[orlxngr Cwp.I.Imn
200,000
450!i
NIA
05flIV[1
5.3➢85
70,72,
75,03[
BNY WV q .Tr
82,272
1,362,280
_
h,,e•rep TREASURER'S MONTHLY REPORT
91a1+2cav DETAIL OF INVESTMENTS
AUGUST 31.2009
C..N.
Y-Id
Adlasled
(memo aril)
Pnor Q,r
Par VJae
Rle
[Lang
may ty
lol,fa6 ty
Casr Basis
Ce,a,T.LJ
Market valae
&.e
M.ket Val La
U S CMAY Sens' Finnlies
Federal Hame Lnm➢ard,
1,WO,WD
41ff.5
NIA
0604111
41034
1,00000D
1029,658
BUY Wu,rem Tr
1.033,125
Federal Barre LO,n Hank
1,WO,C90
413'.
WA
M129LI
413?i
],OLO,OOD
1,029,544
➢UY%Vestcm Tr
1,033,438
Fedcml P.Lrm Crdrt A.nk
1.woJ WO
41ry:i
NIA
07A371H
410:4
D
0
BUY IVe•rem Tr
I,WD,625
Faieml Han,, Lour Bair
2.W0001)
5500o.
NIA
0127111
55R::
D
0
BUY W,r"Tr
2,W7,500
Federal Hane La. Bmk
],000,COD
55001
NIA
07127/11
55WI.
D
0
BUY%Ve•hmTr
1,W3,751)
Federal Farm Credit B.,k
1.00gW
4W;
NIA
0811 Vt1
4COi4
D
0
BNY WW'. Tr
1,003,751)
Federal Home Lan Hail.
I.M.WD
3_Y".
NIA
111_2&111
32M6
I'mm'W0
1,016,063
➢..1-IV,,4em Tr
1301 7,8 13
Fed ernl Haase Lan Bil.
1,WO,WD
4W,
NIA
0503,112
4W..l
]ON,W0
IM.62o
➢W%V,,a,,m Tr
13010.625
Federal Hame Lan Mctri,,e Corpamhrn
1,WQW0
402°4
N.•A
06125/12
40231
1,OWOW
1026,020
➢}YIVwi,m Tr
1,03D,120
Fed,,,.[ Home Le,B,,1,
l."300
'_SCCi
NIA
MI29A2
2M
1,0D0,LW
1,04.175
BCYIVI'em Tr
1,W3,751)
E,000,0 W
Long Tem [ma•ucsnt
(3 yearslo5 s•earo
US Gm l A,., Sccunu,,s
Fed,,ml Hame Lawn hJ.A_ega Carpamhm
2,!M,W
27S"i
N.:A
122912
27516
2,0W,W0
2,010,050
HNY Weslem Tr
'_,W9,520
Federal Home Late Baal
1,W0,WD
230.
NIA
1212dg2
230b1
I,ON,WO
1,05,313
➢:PCWeslem Tr
99,68g
Federal Home L. hlw,.p Carparahm
],D]O,WO
25fol
NA
12+2&112
2,0%
L0W,W0
1,012.3,l
BUY Wade. Tr
1,1073120
Federal Nal..J hlom,,ngr AssoeL,luo
]0]O,COO
305°I
NIA
D7ADM3
305%
I.0W,000
IMAM
BNYWemem Tr
D
Federal Home Lan Mare.., Cor}vrohm
1,WD3WO
225°I
NIA
0113WH
22535
1.0W,W0
W7,450
BUY Weelem Tr
0
Fad-ral Hon. -Lean Baas
1,WD,C00
283-1
N.:A
09119A3
2951.
I,OW,OCm
1,O ,375
BUY Weslem Tr
0
F,,d-mlNananI hlamaage ASWCLIWn
1,Wg000
4W..,
MAL
07681144
4Wbl
1,00$000
1,002,813
➢N'%V:stem Tr
0
Federal Na4aral ld mnae A.saeu..
11C003C08
35di
NIA,
09125114
3nfi
1.000,W0
1,O ,250
➢NY WL sl,,m Tr
0
Finan.ina Crarporarmn(HC01
a003COD
9gwo;
N.•A
04.10611g
900%
396,594
70.500
Naheas➢_nk
592,969
9.498,59d
JTM,allnveCed Cash
5 96.123.926
S %865,761
S 109,183,884
Cil
treosrep
912312009
[Tula[ Invested Cash
Mcsrellaneous Accounts
Petty Cash
Revolving Fund - Bauk of America
Trust & Agency - Bank of Amenca
Dotvnpa}nnent Assistance (Housing
Fund 1 - Washington Muntal
Workers Compensafion - Bauk of Amenca
General Liability - Bank of America
Deposits Held In Trust
Time Deposits
(FDIC Insured)
Guaranty Bank {Coyote Springs Apt}
ITotal Cash Deposited
G]
TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
AUGUST 31, 2009
Yield
Adjusted
Par Value
Coupon
Mang
Matunty
to Maturity
Cost Basis
Category Total
5 96,123,926
S
96,123.926
S 96,123,926
3,900
NIA
LIIA
open
none
3,900
18,016
NIA
NIA
open
none
M016
1,190,528
WA
NIA
open
none
1, 190,529
33,652
0 01%
NIA
open
0.01°fi
31652
1,096
NWA
NIA
open
none
L096
7,304
NIA
NIA
open
none
7304
1,254,496
20,372 1.99% NIA 6/24/2010 2.00% 20,372
20,372
S 973H,794
TREASURER'S MONTHLY REPORT
ax_r p
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
MUM
AUGUST 31,
2009
Coupon
ii{d
Adm.lo5
Inl:m. mp7
Pnur Qy
Pa W,
)le[i
Bmm3
AF1•nIy
to Mamrm
C.•l B..L
CNr6en T.0
Al L. L'Ax
5..m
A6trlavV c
399IN7.111•b3 Cm. aw Cl, r
AIM11 Gsxmmatd A�,� F arPn,.
5,889,E.0
...able
,R89,fi80
.,889,68D
BNY Wk wm Tr
5,889.192
5,889,680
ISN2N6lL-Porl
AQ1 Gmvmnrek Agcn PuniPm'.ve
1, 157.R76
s 1u
AAA
oFa
a04!..
1.157.876
1.157,87fi
BNY IY.n:m Tr
1fi39405
57.876
1971G] S:no B-H.mmy
AL1{
472,916
sm.bla
hAA
oFa
0US!e
473.910
472,919
BNY H'.-4rt Tr
472.883
i7^_,916
1'4 9maA&B
AI11 Gm enwml&Aomg PM[Pnmle
4,701,-.69
t,.b§
.AAA
opal
OW:6
9,3F1,38Y
{}01.389
BNYIDxilxm Tr
3,9«57
4.701.369
1998•W klr vl PfC
AA[Go. yrunml&A,.,
1,26?341
opm
11(4'A
I2WJ43
1:R9,7.3
➢I+Y A'e.lem Tr
LS56,M
1,289.743
199" As.xe•mct➢umm 155 Aft
A1R1 Ga.xr..Yml & A,,, PoawP ,S :
219415
.sc4x
A.LA
opm
Oo5".
2,9615
26a,L15
BI.I' We.IcmTr
2sU91
M,W
lb] As-zsma±]Aslno LII153
Cn�
ul-co0
WO70
23*,0sp
MT We I mTr
0
A3A1 C'me &Amara F.rtrFnrss
13].N4
oW°:
W0]
163,W1
BT11Ve.len Tr
111;13
24,10!
RY2 PO" Slm Iwe
C_6
3
_
3
ML Welan Tr
ALAI Go*amnsik ABr Punf Pnlalx
7,870
sa �hle
.LA.A
op'n
0051:
Wo
*,:TO
IlW {4'clan Tr
11,13d
2,5I3
2ttL Ax•e:.,, nl D.Irc1161
AN Go.evnim[& Apmc3 P.Yle Pm.Le
W7,975
.rouble
A
G7,875
E�T,6]5
64W{Ve.+Lm Tr
412,758
b 7,373
2OP1 45=r5rxnl LY_rnxl ln2
A6f Cmt+mnml& An.nn3 Pnrlfpmve
?^_6,99]
savable
AAA
hin
005!.
22fi,991
21u591
BVY Tr
161.720
21Q591
3R6, Ai._nrxnl➢emcl 16:
AW G...rmrsl& Ag.nt P."M, l•
55 L30]
t..bb
AAA
oFa
❑0.!e
554,701
554,M
BNY W,(,. Tr
367,5[4
SS4,701
YI03 R1al Piclal Al&}2
AM &Ay ,PoffC ,
6,.55,914
.r.W.
AAA
opa
a04%
8,455,914
S,4»,914
BNY H'.:un Tr
7,955„fi^_
8.455.914
2WI Fefwi3 LELo Rz. mue ➢.a,
A8A1 G xmmad n Asv, Sb JFti. rfe
32
.s.. 3
A.i4
opm
0 05?0
3+
32
BNY Tr
32
3^_
2W0 Airpnrl PFC IleCtrd�
AN Cmsxmm rEA�' Pn%ee
52,141
sanrkle
A,IR
opm
OW?6
W6,]Jl
616, 141
BNY S4xslxm Tr
648,141
T.6'd3
5
24,7c6,8.1
5 '_;766,311
5 23,539,591
treasrep TREASURER'S MONTHLY REPORT
09/23/09 CALCULATION OF INVESTMENT LINIITATIONS
AUGUST 31, 2009
By Maturity;
1 day to 365 days
1 year to 3 years
3 years to 5 years
over 5 years
By Type of Investment:
Bankers Acceptance - in total
Bankers Acceptance - singie bank -
Commercial Paper
Certificates of Deposit
Corporate Notes
Money Market Mutual Funds
Mortgage Pass Thrus
U.S. Govermnent Agencies
U.S. Treasury Notes/Bonds
Allowable Percentages
Minimum
Maximum
$8,000,000
NIA
0.00%
50.00%
0.00%
30.00%
N/A
NIA
NIA
NIA
N/A
N/A
NIA
N/A
N/A
N/A
N/A
40.00%
20.00%
15.00%
30.00%
20.00%
10.00%
10.00%
50.00%
N/A
Current Mo.
$76,477,622
10.56%
9.36%
0.52%
0.00%
0.00%
0.00%
1.92%
2.90%
0.00%
3.04°/a
16.13%
0.00%