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HomeMy WebLinkAbout7/26/2017 - STAFF REPORTS - 1.A. �o�p PA MAb sA4 iy c v u+ *A�'P•oRTEO la4 10:01t City Council Staff Report DATE: July 26, 2017 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF May 31, 2017 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 May 31, 2017. 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 $155,188,512 plus $14,207,176 bond issue capital projects, reserve and debt service funds. There is an additional $2,296,340 in various miscellaneous/trust accounts. The market value of the invested cash is $154,754,542. RECOMMENDATION: Receive and File Treasurer's Investment Report as of May 31, 2017. 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. -t' A. ITEM NO. City Council Staff Report July 26, 2017— Page 2 Treasurer's Investment Report as of May 31, 2017 The weighted average maturity (WAM) of the portfolio is 462.59 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 Geoffrey S. Kiehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS May 31, 2017 On Call Deposits Adiusted Basis Category Total Percentage Checking Account $ 35,525,615 CalTrust ShortTerm 28,801,478 State Pool 31,970,375 $ 96,297,468 62.05% Short Term Investments (1 year or less) U.S.Gov't Agencies 55,494,000 Time Deposits 398,600 55,892,600 36.02% Medium Term Investments (1 year to 3 ears) U.S.Gov't Agencies 2,998,444 2,998,444 1.93% Long Term Investments (3 year to 5 ears) 0 0 0.00% $ 155,188,512 100.00% treasrep 7/11/2017 tJ W Total Investment Allocation $155,188,512 City of Palm Springs As of05/31/2017 i1 Checking Account ■ 0.3% 20.6% \���� V 22.9% CalTrust ShortTerm °5 ew, V VVV V9dB�d�g� °v °L.W.Wo°°� III U.S. Gov't Agencies �IIIIIIIII II �� °V°,° �� ��IIIIIIIIIIII� (IIIIIIIIIIIII I I IIIIIIIIIIIII I I I 1 State Pool IIIIII IIIIIIIIIIIII III :S 18.6% IIIIII IIIIII II 111 ii 37.7% I ■Time Deposits 0 TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS May 31,2017 Par Coupon Purchase Maturity First/Next Optional Days Yield Adjusted Calegory (memo only) Prior Qtr. Value Rate Rating Date Date Call Date to N1mmiri to Maturity Cost Basis Total Market Value Source Market Value On Call Deposits Checking-Bank of America $ 35,525615 N/A AAA demand N/A 1 None 35,525,615 $ 35,525,615 Bank of America 22,876,913 CalTmst Sho fferrn 27,500,000 variable NIA demand N/A 1 1.07% 28,901,478 $ 28,786,549 Cal Trust 29,744,829 Local Agency Invest Fund(Il 31,500,000 variable N/A demand MA 1 0925% 31970375 $ 31,944,030 LAW 31,883,036 94,525,615 96,297.468 %,297,468 96,256,193 83,504,777 Short Term Investments (1 year or less) U S.Godt Agency Securities Federal National Mongage Association 500,W0 1.25% NIA 08/09R6 02124120 05/01117 999 1.25% 500,000 494,700 Union Bank 493,030 Federal National Mortgage Association 500,000 1.50% NIA 02/24/16 11/24/20 05/01117 1,273 1.50% 500,000 497,875 Union Bank 496,360 Federal Farm Credit Bank 5000W 1.58% N/A 0.5.117/16 02/17121 05/01/17 1,358 1.58% 500,000 497,595 Union Bank 493,755 Federal Home Loan Bank 1,000,000 1,25% N/A 10/24/16 11109;21 05/09/17 1622 1.25% 1,000,W0 989,610 Union Bank 983960 Federal Home Loan Bank 1,000,000 1,25% N/A 10/13/16 11/10/21 05110J17 7624 125% 1,000,000 992,150 Union Bank 986,240 Federal Home Loan Mortgage Corporation 1,000,000 1.55% NIA I0/11/16 11/10/21 05,10117 7624 155% 1,000,000 986,510 Union Bank 978,910 Federal Home Loan Bank 1,000,000 150% N/A 09/12/16 10/12/21 05/1 2JI7 1595 1.50% 1,000,000 997,330 Union Bank 979,160 Federal Home Loan Mortgage Corporation 1000,000 1.I0% N/A 10/25/16 05/15/19 05/15/17 714 11VI. 1,000,000 001,350 Union Bank 1,000,710 Federal Home Loan Bank 1000,WO 1 05% N/A 10,25/16 11/15/21 05/15/17 1,629 1.05% 1,000,000 995,560 Union Bank 992,620 Federal Home Loan Mongage Corporation 1,000,000 LOOP/o N/A 1020/16 11/15/19 05/15/17 899 100 1000,000 994800 Union Bank 99193o Federal Home Loan Mortgage Corporation 1,000,000 1,25% N/A 07/19/16 08/16/21 05116i17 1,539 125% 1000,000 990,620 Union Bank 985,580 Federal Home Loan Bank 1.000,000 1 00% N/A 10.20,16 11/16/20 05/I6/17 1,265 1 00% 1,000,000 993,590 Union Bank 999,010 Federal Home Loan Bank 1000,000 1 25% N/A 10/18/16 11/17/21 05/17/17 1,631 1 25% 1,000,000 990,450 Union Bank 983,740 Federal Home Loan Mortgage Corporation 1000,000 1.50% N/A 10/17/16 11/30/21 05/18/17 1,644 LSO% 1,000,000 990,430 Union Bank 983,490 Federal National Mortgage Association 2,000,000 1.03% N/A 05121/13 05/21/18 05/21/17 355 1.03% 2,000,000 1,995,420 Union Bank 1989,180 Federal Farm Credit Bank 0 0,625% N/A 05,22/15 05/22/17 N/A - 0625% 0 0 Union Bank 499,910 Federal Home Loan Bank 500,000 L25% N/A 08/09/16 08/22/19 05/22/17 813 125% 500,000 494,870 Union Bank 494,460 Federal Home Loan Mortgage Corporation 1000000 1300/ N/A 1024/16 11/22/21 05/22/17 1,636 1.30% 1000,000 991,160 Union Bank 985,150 Federal National Mortgage Association 1000,000 120% WA 08/03/16 02/24/20 05/24/17 999 1.20% 1,000,000 988,990 Union Bank 985,630 Federal Home Loan Mortgage Corporation 1,000,000 1.40a/ WA 09/29/16 10/27/21 05,127M 1,610 1,40% 1,000,000 991,500 Union Bank 973,600 Federal Home Loan Bank 1000,000 1.30% N/A 10/26/16 11/23/21 0523/17 1637 130% 1,000,000 991,900 Union Bank 985270 Federal Home Loan Mortgage Corporation 500,000 1.30% N/A 08/09/16 08/23/19 05/23/17 814 130% 500,000 497,370 Union Bank 497,135 Federal National Mortgage Association 1,000,000 1.13% N/A 08/03/16 11/24,20 0524/17 1,273 1.13% 1,W0,000 984,130 Union Bank 977,910 Federal National Mortgage Association 1,000,000 100% N/A 08/03116 08/2421 0524/17 1,546 100% 1,000,000 995,770 Union Bank 992,120 Federal Home Loan Mortgage Corporation 1,000,000 1.00% N/A 09/08/16 09/24/21 05,124/17 1,546 1.00% 1,000,000 996,300 Union Bank 992,710 Federal Home Loan Mortgage Corporation 1000,000 1.50°% WA 05/25/16 05/25/21 05,25/17 1,455 1.50% I OOU,000 987,770 Union Bank 991,570 Federal Home Loan Bank 500,000 125% N/A 05/25/16 05/25/21 0525/17 1,455 1.25% 500,000 496,130 Union Bank 493,205 Federal Home Loan Mortgage Corporation 500,000 1 25% N/A 05/25/16 05/25/21 05/25/17 1,455 1,25% 500,000 495,875 Union Bank 493,220 Federal Home Loan Bank 500,000 1.125%a N/A 05/27/15 05/27/21 05125,17 1,457 1,125% 40,000 497,340 Union Bank 494,330 Federal Home Loan Mortgage Corporation 2000,WO 1.50% N/A 07/18/16 09/25/21 05/25/17 1,547 1.50% 2,000,000 1,983,820 Union Bank 1970,980 Federal Home Loan Bank 1,000,000 1,55% N/A 11/02/16 1U26/21 0526/17 1,640 1.55% 1000,000 996,240 Union Bank 988,900 Federal National Mortgage Association 0 1,123% N/A 02126dri 02/26/21 0526/17 - 1.125% 0 0 Union Bank 498,070 Federal National Mortgage Association 500,000 1.00% N/A 02/26/16 02/26/21 05/26/17 1,367 1 00% 500,000 499,910 Union Bank 498,960 Federal National Mortgage Association 500,000 140% N/A 02126/I6 11/26/19 05/26/17 909 1,40% 500,000 497,270 Union Bank 495,820 Federal Home Loan Mortgage Corporation 500,000 1.25% N/A 02/26/16 02/26/21 05/26/17 1.367 1 25% 500,000 497,100 Union Bank 494,345 Federal Farm Credit Bank 1,000,000 L30% N/A 06/06/16 06/06/19 06/06/17 736 1,30% 1,000,000 993,220 Union Bank 992,600 Federal Home Loan Mortgage Corporation I000,000 1.25% N/A 06/09/16 06/09/21 06,109/17 1,470 125% 1000,W0 996,800 Union Bank 992,080 lmarep Q 7/11 J2017 U TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS May 31,2017 Par Coupon Purchase Maturity First/Next Optional Days Yield Adjusted Category (memo only) Pin orOn- Value Rate &II13A Date Date Call Date to Maturity to Matunty Cost Basis Tow Market Value Source Market Value Short Term Investments(Continued) (1 year or less) U.S.Gov[Agency Securities(Continued) Federal Home Loan Mortgage Corporation 1,000,000 185% N/A 11/15/16 12/14/21 06114,17 1,658 1.95% 1,000,000 1000,000 Union Bank 995,660 Federal Home Loan Bank I000,W0 125% NIA 06/16/16 06/16/21 06,116/17 1,477 1,25% 998,500 990,580 Union Bank 984,470 Federal Home Loan Mortgage Corporation 1,000,000 100% N/A 11/16/16 06/16/20 06/16/17 1,112 1,00% 1,000,000 998,080 Union Bank 996,790 Federal Home Loan Mortgage Corporation 2,000,000 1.00% N/A 09/20/12 09/20/17 06/20/17 112 100% 2,000,000 2,W0,3W Union Bank 2,001340 Federal Farm Credit Bank 1,000,000 112% N/A 06/20/16 06/27/19 06/27/17 757 1.12% 1,000,000 990,150 Union Bank 989.320 Federal Home Loan Bank 1,000,000 163% N/A 11/29/16 12'28/21 06/29/17 1,672 1.63% 1,000,000 1,000,040 Union Bank 998,930 Federal National Mortgage Association 1,000,000 110% WA 06/20/16 06/28/19 06/28/17 758 1.10% 1,000,000 939,410 Union Bank 988,520 Federal National Mortgage Association 500,W0 1375% N/A 03/W16 03/30/21 06/30/17 1399 1.375% 500,000 496,I00 Union Bank 492,235 Federal Home Loan Bank 1,000,000 2.00% N/A 11130/16 12i30/21 06/30/17 1,674 2 00% 1,000,000 1000,070 Union Bank 998,040 Federal Home Loan Mortgage Corporation 1,000,000 1.50°/ N/A 09/12/16 09/3021 06/30/17 1,593 150% 1 00QOW 995,530 Union Bank 999,420 Federal National Mortgage Association 1 000,000 1.125% WA 07/27/16 07/27121 07/27/17 1,518 1.125% 1,000,000 988,790 Union Bank 983,560 Federal Home Loan Bank 1,000,000 1 00% N/A 04/29/16 04/28121 07/28/17 1,428 1 60% 998,500 995,480 Union Bank 991,490 Federal Home Loan Mortgage Corporation 1000,000 1.13% NiA 10/12/16 10/2821 07728/17 1611 1.13% 1,000,000 991,830 Union Bank 986,770 Federal Home Loan Mortgage Corporation 1,000,000 1.05% N/A I0/12/I6 10/2821 07/28/17 1611 1 05% 1,000 000 981 780 Union Bank 974,690 Federal Farm Credit Bank 500,000 1.08% N/A 08/04/16 08/15A9 09/15/17 906 108% 500,000 495,695 Union Bank 496,125 Federal National Mortgage Association 1,000,000 1.10% N/A 09/03/16 08/23/19 09/23/17 814 L10% 1,000,000 991940 Union Bank 990,020 Federal National Mortgage Association 1,000,000 140% N/A 09/03/16 09/25121 08/25/17 1,547 1,40% 1,000,000 977,150 Union Bank 968,770 Federal National Mortgage Association 2,000,000 125% N/A 09/04/16 09/2820 08/28/17 1,185 125% 2,000,000 1,957,360 Union Bank 1,949,020 Federal Farm Credit Bank 1,000,000 1.12% N/A 10/19/16 10/11/19 10l11/17 863 1.12% 999,250 990,350 Union Bank 989,400 Federal National Mortgage Association 1,000,000 1.17% N/A 10,25/16 11/15/19 11/1.5/17 898 1.17% 998,750 988,560 Union Bank 985,5g0 Federal Home Loan Bank 1,000,000 1.001. N/A 10/26/16 11/17/21 11117/17 1,631 100% 1,000,000 996,800 Union Bank 992,840 Federal Home Loan Mortgage Corporation 1,000.000 1.20% N/A 11/01/16 )1/29/19 11/29117 912 1,20% 1,000,000 990,060 Union Bank 986.920 Federal home Loan Bank 1000,000 1.70% WA 11/17/16 12/0"1 12/08/17 1,652 1.70% 1000,000 999,190 Union Bank 993,430 55,500,000 55 494,000 55 066600 55 828,960 Ti me Deposits Goldman Sachs Bank CD 200,000 1.80% N/.A 7/25/12 7125/17 N/A 55 1.80% 198,600 200,294 Union Bank 200,648 Discover Bank CD 200,000 1.70^/o N/A 7/26/12 7/26/17 N/A 56 170% 200,000 200.314 Union Bank 200.686 400,000 398,600 400,008 401334 Medium Term Investments (1 year to 3 years) U.S.Gov't Agency Securities Federal National Mortgage Association 2,000,000 1.10% WA 03/12/13 03/12/18 03/12/19 285 1.10% 2,000,000 1,997,320 Union Bank 1,999,300 Financing Corporation(FICO) 500,000 9.80% N/A 04/06/88 04/06/19 N/A 310 9.90% 498,594 535,961 Bank of oerica 543,110 Federal Farm Credit Bank 500,000 1.03% N/A 02/24.r16 021121119 N/A 622 1 03% 499,850 497,860 Union Bank 497,715 3 000,000 2,996,444 3,031,141 3,040,125 Total Invested Cash $ 153,425,615 $ 155,188,512 $ 134,754,541 $ 142,775,196 m asrep vl1/2017 O C"> TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS May 31, 2017 Yield Adjusted Par Value Coupon 12atine Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 155,188,512 $ 155,188,512 $ 155,188,512 Miscellaneous Accounts Petty Cash 3,950 N/A N/A open None 3,950 Trust&Agency-Bank of America 1,964,508 N/A N/A open None 1,964,508 Downpayment Assistance(Housing Fund) 34,006 0.002 N/A open 0.20% 34,006 -Bank of America Workers Compensation-Bank of America 123,373 N/A N/A open None 123,373 General Liability-Bank of America 28,048 N/A N/A open None 28,048 1930's General Store Museum-Bank of America 15,965 N/A N/A open None 15,965 On-Line Credit Card Fire Inspection Fees 119,287 N/A N/A open None 119,287 -Bank of America On-Line Credit Card Transportation Permits 7,203 N/A N/A open None 7.203 2,296,340 -Bank of America Total Cash Deposited $ 157,484,852 treasrep 7/11/2017 9 _j TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE &RELATED FUNDS May 31, 2017 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rating Maturi to Maturity Cost Basis Total Market Value Source Market Value 1999 Airport PFC Invesco Government&Agency Private 930,953 variable AAA open 0.01% 930,953 930,953 US Bank 829,025 930,953 2006 Airport PFC Invesco Government&Agency Private 2,317,090 variable AAA open 0.01% 2,317,090 2,317,090 US Bank 1,652,259 2,317,090 2007 Refunding Lease Revenue Bands First American Government Obligation 50 variable AAA open 0.01% 50 50 US Bank 1,084,969 50 2007A&B Tax Allocation Bonds First American Govemment Obligation 13 variable AAA open 0.01% 13 13 US Bank 13 13 2007C Tax Allocation Bonds First American Government Obligation 6 variable AAA open 0.01% 6 6 US Bank 6 6 2008 Airport PFC Refunding Invesco Government&Agency Private 591,742 variable AAA open 0.01% 591,742 591,742 US Bank 591,170 591,742 2012 Downtown Revitalization Lease Revenue Bond Reserve Invesco Government&Agency Private 5489,631 variable AAA open 0,01% 5,489,631 5.489,631 US Bank 3.197,957 5,499,631 treasrep 7111/2017 CQ 00 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE& RELATED FUNDS May 31, 2017 Paz Coupon Yield Adjusted Category (memo only) Prior Qtr_ Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value 2012/2014 Convention Center First American Governnent Obligation 12,760 variable AAA open 0.01% 12,760 12,760 US Bank 12,681 12,760 2014 Merged Project I&2/llousing Rebinding First American Government Obligation 492,782 variable AAA open 0.01% 492,782 492,782 US Bank 492,528 492,792 2015 Reassesment District No.2015-1 First American Government Obligation 274,553 variable AAA open 0,01% 274,553 274,553 US Bank 274,411 274,553 2015 Local Measure A Sales Tax First American Govemment Obligation 2,115,567 variable AAA open 0.01% 2,115,567 2,115,567 US Bank 1,113,147 2,115.567 2015 Refunding Lease Revenue Bonds First American Government Obligation 8 variable AAA open 0.01% 8 8 US Bank 0 8 Chevron/CoGen Lease Proceeds Cash 716,877 N/A N/A demand None 716,877 716,877 Deutsche Bank 716,877 716,977 Funds With Century Golf 1,265,144 N/A NIA demand None 1,265,144 1,265,144 Century Golf 1,185,312 1,265,144 Totals 14,207,176 14,20TI76 $ 11,150,353 treasrep 7/11/2017 C) TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS May 31, 2017 By Maturity: Minimum Maximum Current Mo. 1 day to 365 days N/A N/A 98.07% 1 year to 3 years N/A 50.00% 1.93% 3 years to 5 years N/A 30.00% 0.00% By Type of Investment: Bankers Acceptance- in total N/A 20.00% 0.00% Bankers Acceptance- by issuer N/A 5.00% 0.00% Commercial Paper N/A 15.00% 0.00% Time Deposits NIA 10.00% 0.26% Negotiable Certificates of Deposit- in total N/A 30.00% 0.00% Negotiable Certificates of Deposit-by issuer N/A 5.00% 0.00% Corporate Notes - in total N/A 20.00% 0.00% Corporate Notes- by issuer N/A 5.00% 0.00% CA State or City Bonds/Local Agency Bonds - in total N/A 15.00% 0.00% CA State or City Bonds/Local Agency Bonds- by issuer N/A 5.00% 0.00% Money Market Funds N/A 10.00% 0.00% Money Market Mutual Funds -Less than 1 Year N/A 50.00% 18.56% Money Market Mutual Funds -More than I Year N/A 25.00% 0.00% LAW N/A 100.00% 20.60% U.S. Government Agencies N/A 60.00% 37.69% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% treasrep 7/l 1/2017 O