HomeMy WebLinkAbout11/4/2009 - STAFF REPORTS - 2.D. 4 PALM SA
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�gOF°a ,P City Council Staff Report
DATE: November 4, 2009 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
September 30, 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 September 30, 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
$90,239,249 plus $23,658,631 in bond issue capital projects, reserve and debt
service funds. The market value of the invested cash is $90,971,186.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of September 30, 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 NO. O'
City Council Staff Report
November 4, 2009 — Page 2
Treasurer's Investment Report as of September 30, 2009
under current market conditions. We recommend that this exception to the
policy be continued.
The weighted average maturity (WAM) of the portfolio is 233 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:
NoneCP
Geoffrey S. Kiehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
i
trcasrep CITY OF PALM SPRINGS
10202009 TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
SEPTEMBER 30, 2009
On Cull Dc osits Adjusted Basis Category-1'cost Percentage
Checking Account S -2,608,526
Stale Pool 70,000,000 $ 67,391,474 74680G
Short Term Investments
(1 year or less
Mortgage pass-1-hrus 1,623,292
Trmc Deposits 1,846,500 3,469,792 3 85%
Medium Term Investments
1 year to cars)
Corporate Notes 2,785,430
Mortgage Piss-Thrus 1,093,959
U S.Gov't Agencies 6,000,000 9,879,389 10 95
Long Tcnn Invesmment;
3 years to 5 years)
U.S.Gov't Agencies 9,498,594 9,498,594 10.53%
S 90,239.249 100 0070
*Some mveatnments made pnor to the implomentation of the
currant Investment Policy exceed the 5 year hmrt.
�xa P TREASURER'S MONTI LY REPORT
]Dnar2w9 DETAIL,OF INVESTMENTS
SEPTENMER 30,2009
Canton Yield Ad)mled [mxmo o.-dy) Pnor Qh
Par V.Ne Rn Rmioe Mammy [n Mamnt} CO-IB,,m Cat,"TOlol hiarke[Vo[ne Sow x 6f.Wt Vd.v
Ua CA DarosiU
Checking Boat Dlhmera S NIA raiablc AAA own 015% S .2,6114,526 S -2,60$026 5 4,916,053
Local Agency insn Fmid(LAI€) 70,OW,WD saiable NA opso 0.75% 70,0D0,000 70.10 ,243 LAIF 8g146363
6739]574
S4n-r Trnn Lrvcstmzsld
l marwl,,ss]
Mcim'age Pass rams
Fedeml home Loan M..,Carywahco VD,000 4.50% NIA N.W.09 n3v% 0 0 ➢NY IVvIi,m Tr 95,172
FedemE Hame Laaa Llcdea Colp�,.Hm 3.MgWD ISMS NIA [MUDS 043% 75,SB[ 79,434 HNY%Wm.Tr 154,IH5
Fedml Hom,,I mmctpaCgrpamhN 2,050jwD 4503. NIA M*Iffi9 503% 147,115 M8,775 BNYIVestem Tr 2[0,079
Federal Nahoaol`dm",:A�sw also :70 ,wu 4503. NIA OUDkAO 491% 218,892 231,403 BNY l4'estem Tr 28D,4D5
Federal NahDnal hfM"gc Assntahon 2,50,1M 450b. ti.1A Ob01.110 446;i 264018 267,366 BWWiclem Tr 334,962
€cd-al Heae Lawn hiad gx Corp.W,. I,sa5.i A 4A% NIA 02MA0 5.2 % 174935 187,345 BNVIVeslem Tr 2303261
Pcdrial Nalmnal MOHyyc Asewmhca I,OM,mo 4Wb6 1.iA 03.1)VIO 512% 154,124 165,0W BNYWcskm Tr M,469
€edual HDme Lam hioHyaec Cerpmlm 2,2W.OW 4.506 NIA 05.-01111) 5.2951u 353,955 380,077 BNYWesle..Tr 470,144
Federal H.U.Marigaee CDrpaxeurt 1,370,OW S.M. WA 09.'bVlo 5.355. a�4,671 245,75H BURWeslrn Tr 276.059
1,62],292
Tim,,Depards
CD Accttin:Re""Smrce(CDARS) D,000 3.W,'a A t 071mw 3 Mi 0 0 IM.,Di,, r Yer Bank 940000
CD Accnael Beptry Semce(CDARS) W6,500 23M, AAA 0311 U[a 2.334. oD6agp 9,A,o00 M.Di, rtNat Bznk 9%.S00
CD Acco iHcp•try Semt (CDARS) 940,0D 160Vr AAA 07i15710 161% 940,OD0 940.( Feho Des Nr.i B_nk 0
1,846,5W
Mediem Tcrm ln�'Im�enfs
15'ra 1o3 •cars
CDrycm:e No[eo-
lVeHsFargo&Caopwy 80D,3f/J 3.99:6 AA. 10129110 420°h 795,160 515,096 ➢\7S4e•[xm lk E15,136
SBC Cttmun¢aliens,Inc 1,MGW 5.3D°.6 A [1115R0 n173. 1,065,[50 ]040,460 DNY%Ve•r,,m Tr 1038,210
Cddmm Soeb>Cnaup,]rc 1,W0,WD 500% A 01115.1[l 537% 906,[20 1,038,050 ➢NY Wi,yem Tr 1,027,510
2,785,430
Mcrlp,Pa51 TLnLS
F,deml\ahana] 40N. WA 1Q'D1110 4.95E ]23,61] 130,111 BNYWeslem Tr 15_621
Fcdeml Hnme Lean Bask 775,WD 475% NA ]A2VIO 4.SB% 394,201 40f9,978 BNYIL'cslcm Tr 434,443
Federal Home lean hfoHgegc Carpomum 1,013,532 4aml. NIA MIA 5.24% 267,395 289,617 BNVWeslev7r 3343449
Fedea7 Home Loan MoH',Corpomliwr 695,0m 4.00:o NIA WOW 5.22°'u 239,186 259,594 BUY W,,ste Tr 287,HOD
Fcd-m7 HoTe Lawn Madpge Carpamfioa 20,ODO 4.SOio NIA OS101111 5.37°1i 69,564 73,936 BNYRre.,koa Tr H2,272
l P33,959
i�
acosey TREASURER'S MONTHLY REPORT
]0.2012W9 DETAIL OF INVESTMENTS
SEPTEMBER 30,2009
Coupen Y,eld Ad3u,tei {memo mdpJ Pnar Qlr
Par L'a3ue lie'e P.ahn3 huk ay La hha Ly Co,lIl�ss CoLearoq TolaL h{arke[VWvc Soum hL-rlel Volne
U.S CrarY Acea-y S...¢rs
Federa3Ilemc Loan H_rd. 1,0D0.D0D 41M'a NIA 0624111 4IC% 1,W0,003 1,028,125 BNY 4F'e•rem Tr 1,033,L25
Fcd.al Home Loan Bmd. lam,000 413°% NIA Cka24111 4135'° 1,DCW,000 1,029.125 ➢NY WwY.Tr 1,033,438
Fe&re1 F.CYediL Barak I,ow'm 410% NIA OhOAIi 430% D D HNYWeslem Tr ],OOQ625
Fednzl H.Loan Beak 2,0W,OCO rJO'/. NIA DW27111 5.5ff,', D D BNY1L'eslem T, 2,007,50a
Fd�J H.Lawn Bard. I,OW,OCO >30:: NIA 0127111 5.5ml. D 0 BNY R'eslem Tr 1,003750
Fed.r,1 Farm Oedil Bah L,aW,oCO 4WN NIA C811 VL1 4C . 0 0 BNY Weslem Tr I'm750
Fed.-rat Bane Lean Bank I,aDO,OC❑ 3 25% WA [112SII] 3 25% OW,000 1.016,561 BNL'W-km Tr I,017,8E3
Federal Home Lean Bark L,COO,OW 4W?4 NIA OS•103.112 4C0% I,aw.m 1003,125 BNYLLY,reT Tr L,0l0,625
Federal Hov Lu h{cdgag Ca .el.. L,COO,ow 402% Ulk W24'12 402% 1,OOg0W 1,02459 BNY W.B.Tr L,03D,120 -
FcderalHoiu+L.B.r I,CODVW 2.50'/o N.IA 05.129A2 2.5W. I,a00,oW 1,004375 BNY Ur., mTT L,W3,75D
6,WO,C00
Lcng Term[A,.«nL
(]years to a vcars
L S Gods A_erci'SeL- kes
Federal Hcme loan hforipSe Co"mLim 2,OCO,WO 275% NIA lb24II2 27ah; 2,0Do,D00 2,019.700 BNYWeslem Tr 20 ,520
Federal It.,L..Balk I0m.wD 21W. NA 12'24112 23f 3 IOCO,D30 1,OU3.438 BNYWL slam Tr 9N.656
F�dcml H.,loan Wri,.3e Car�.L,. Imo. ]0 25034 NIA 12' M2 251P13 1,000.WO 1,015,140 BNYWWi .Tr 1,007.1m
Fcke NBLlrmal hlnrlgvc A5.nmhoa I,ow.040 303% NrA DL13M 3OYN 1,OD3,000 1,aw'000 BNY LVe,Icro Tr ❑
Federal Home Lean hfad�aae CarpurazIW 1,000,000 22545 NIA 0113a L3 225''. I,aw,wo 1p0,720 BNY We,Iem Tr 0
Fed,M Lleme Lean Bards I.m,000 2.85% N'A OHIMU 2B5°/. 1,a00,0W 10I2,SC0 BNY&$..lam Tr 0
Federal National 144ade As.o.iehun 1,000,oLG 4DO% NIA 07101/14 4W3> IOwmI L,000,ODO BNl'We.km Tr 0
Fedeal Na[inaalhforl9ne Asmarahrm L,CWGCO 3 i0 1. NIA 00MV14 3 pods L,000,oW 1,09,638 BNY W.A..Tr ❑
Fmvar uw Capnrahva(FECO) 500,aw 980Yo WA 041mola 9BQi5 49U95 702,013 NxlwmBa k 692,Sd9
9,498,594
Total Tmuslud Cs•h 5 W,239.249 S W,97L,186 S I❑9.LB33B64
l�l
TREASURER'S MONTHLY REPORT
Ireasrep MISCELLANEOUS AND TRUST ACCOUNTS
1012&2009 SEPTEMBER 30, 2009
Yield Adluslcd
Par Value Coupon Rating Maturity to Manirity Cos(Basis Category Toto€
Total lnvesled Cash $ 90,239.249 $ 90,239,249
$ 90,239,249
Miscellaueoas Accounts -
Pen Cash 3,900 NIA NIA open none 3,9oo
Revolving Fund-Bank of America 18,885 NIA NIA open none 18,885
Trust&Agency-Hank of America 1,167,965 NIA b7A open none 1,167,965
Doninpnymcn(Ass[slance(Housing
Fund)-Washington Mutual 3,365,276 0.019A NIA open 0.0% 3.3fi5,276
Workcrs Compensatmn-Bank of America 2,441 NIA NIA open none 2,441
General Liability-Sank of America 7,304 NIA NIA open none 7,304 4,565,771
Deposits Held In Trust
Time Deposits
(FDIC Insured)
Guaranty Bawl:(Coyote Springs Apg 20,372 1.99°/, NIA 6124MI0 2.00% 20,372 20,372
Total Cash Deposited $ 94,825.392
i3'i
TREASURERS MONTHLY REPORT
BOND ISSUE RESERVE.DEBT SERVICE&RELATED FUNDS
mcnm9 SEPT04BER 30,2009
CCupu Yic15 .S6)mru3 W=aCal]'1 Pnur QO
FuWuc Sale Phn3 h1•wr] laM1lenlm' CoYBui Curwy Tclal M1Lvhn Vale: Scum .lf ixl Velrc
199IN71M.N I Cum mlim Cm,
.iL4[Ce>:wrrcSAcmiPcrtiPrrac 5669$32 svi.blc AA4 Vp 0.0M >,939,932 >,g19,g:2 BilY l4�.m Fr SA89,1w
5.919.932
]991.1;4 AuFm
,VM11 R A;,.nn'S'"XC -_ IJ3%6i0 rsx< AAA 4P1Y,
rP0 1.2'•_Sb70 1)13b70 B1t4'lh'7.mII I,W9,4S3
1231,670
19]IiLk Sm:s B-H�me
mhs Gmmmmi A 4y RHCln'alc 472,N0 c—bk U.N% 472,940 472,9J0 SW%VYI¢ Tr 472,893
473,9l0
19N.V1 SM:s A&T3
4 3 AA6 N: Pnvalc 2,933,711 ruubl- AAA v 0.1 % 2.Yd3.353 2,933.733 ILYS'WV .Tr "JM67
2931,75a
199mg kv FFC
AIM Gp12mm�J&An:�Po Pamnx l,rsh4c5 leri•hle AAA op:o 004% I vyZ[,9c3 [,. ,437 BNY H'c,'.:m F1 IJ56,293
1,•kl 437
1998 A==r==m:m N"155 A&B
ABf Canemm:rt S Asz,Femf P&t I43,160 AAA can OWS: 143J60 [47,160 BNY WV imTr 219J91
14]Jc0
CW 137.00 0 0 DNY R:=lao Tr 0
mh[G .a S kg ,ArlCPrna:• 187,012 ivbk .LLl 0.[4', 187[H2 337,W2 BIWWnrac Tr Igrn1S
337.041
1pn F.u1.'mn Svu:r
Cv ] ] _ BNY S4�m L1
AA:Ga an=mJ& 7,Oc9 Lmblc 1A4 ppm p04- ],0>9 7A59 BNV@e2.V8 11,118
p62
2p0l As=:sit 3}-yu[[61
AIM Gm�— &A,o Pont Pa ,w 312fill reneblx ALA CKn 004. cull 41;611 BN145'e,lrn'fr 412,713
412.611
2001 Arus=m:m I115hui 162
.>Lt1 Cio.rl$Ac.)Po Prls Ifil LA7 rsa c kl % ON% 16LN7 161,M] BVY 11'x=IC Tr 161,72g
161,Otl
2C45 A= =m_'nl PSY>H 36
AMC< A..,3knFPmu:: 367,153 1. AAA 0.➢1'.i 367.153 367.113 S}!Y Wln Tr 363,JN
167.111
2.07 hl,q Paul¢1 A[S 32
A4.[Gs rrtmml$AguyRtlCa'n1'vlc B954,9c2 ssnsblt A k oyeu 0.01°,i 0F54.9.2 5,054,952 B1fY Vis'xm Tt 7955,262
g,RJ 952
20:0 Refir_dms 4sa R<sevi B¢ds
AlM1[fm ms4Ayv—cs PSIi Pns'alc Sr3p>0 rrnrblx AA.4 coo OOv': 39"50 39g,050 BNl lYxsllm Tr 12
39g.5n
200g ki,m PFC&r Am;
AR1 Gm.m &Ag:,PWP,w "k542 •Ts.. rLAA c4zn O.N% 648,142 08.342 BVYM-Inn Tr Ws 141
649.142
BRICASu S1.xm U,
Fmm i•I Squsrc Fa jFm Sm "96}30 0.01% 1'M1 10 1JSq��] Ikm•dr:B:11 0
I,15v 560
Twl
5 2v,658,631 5 2},656,(31 5 2'a,d959]
treasrep TREASURER'S MONTHLY REPORT
10I20/09 CALCULATION OF INVESTMENT LINIITATIONS
SEPTEMBER 30, 2009
Allowable Percentages
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days 58,000,000 NIA $70,861,266
1 year to 3 years 0.00% 50.00% 10.95%
3 years to 5 years 0.00% 30.00% 9.98%
over 5 years NIA NIA 0.55%
By Type of Investment:
Bankers Acceptance -in total N/A 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% 2.05%
Corporate Notes NIA 20.00% 3.09% -
Money Market Mutual Funds NIA 10.00% 0.00°%
Mortgage Pass Thrus N/A 10.00% 3.01%
U.S. Government Agencies N/A 50.00% 17.18%
U.S. Treasury Notes/Bonds N/A NIA 0.00%