HomeMy WebLinkAbout6/21/2017 - STAFF REPORTS - 1.D. PALM s„0
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City Council Staff Report
DATE: June 21, 2017 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
April 30, 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 April 30, 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
$144,142,890 plus $11,771,139 bond issue capital projects, reserve and debt
service funds. There is an additional $2,136,215 in various miscellaneous/trust
accounts. The market value of the invested cash is $143,620,455.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of April 30, 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.
ITEM NO.
City Council Staff Report
June 21, 2017— Page 2
Treasurer's Investment Report as of April 30, 2017
The weighted average maturity (WAM) of the portfolio is 515.54 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
Geoff reyy�S.Riehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
April 30, 2017
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 23,504,509
CalTrust ShortTerm 28,776,962
State Pool 31,970,375 $ 84,251,846 58.45%
Short Term Investments
1 year or less)
U.S. Gov t Agencies 56,494,000
Time Deposits 398,600 56,892,600 39.47%
Medium Term Investments
(I Lear to 3 ears)
U.S. Govt Agencies 2,998,444
2,998,444 2.08%
Long Term Investments
(3 year to 5 ears)
0 0 0.00%
$ 144,142,890 100.00%
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Total Investment Allocation
$144,142,890 City of Palm Springs As of 04/30/2017
M Checking Account
■ 0.3%
SE 16.3%
N 22.2%
Y, CalTrust ShortTerm
III U.S. Gov't Agencies
i
ti 20.0%
State Pool
Ili
■Time Deposits
III 41.3%
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
April 30,2017
Par Coupon Purchase Maturity FirstMen Optional Days Yield Adjusmd Category (memo only) Prior Qtr.
Value Rate Ratio, Date Date Call Date to Maturity to Magri Cost Basis Total Market Value Source Market Value
Oo Call De sits
Checking-Bank ofAmerica $ 23,5N,509 NIA AAA demand Ni.A I None 23,504,509 $ 23.SW,509 Bank of America 22,876,913
CalTnlst ShortTerm 27,5W.000 variable WA demand N/A I06% 2b,776,962 $ 29,744,829 CalTrust 28.744,929
Local Agency Invest Fund(LAIF) 31,500,00 variable N/A demand N/A I 0.lt"% 31,970,375 $ 31,944,030 LAW 3I 883,036
82,504,509 84,251 846 84,251 846 84,193,368 83,504,777
Shan Term Investments
(I a or less)
US.Gov't Agency Securities
Federal National Mongage Association 50000o 1.25% N/A 0S/09/16 02/24/20 04/01/17 1,030 1.25% 500,000 494,025 Union Bank 493,030
Federal National Mongaec Association 500000 1.5t/ N/A 02/24/I6 11/2420 OVOU17 1,304 1.50% 500,000 498,465 Union Bank 496,360
Federal Yam Crdit Bank 500,wo 1.58% N/A 05/17/16 0117!21 N/01/17 L389 1.58%. 500,000 496,830 Union Bank 493,755
Federal Home Loan Back Low'000 1.501. N/A 09/12/16 10/12/21 W/12/17 1,626 1.50% 1000,000 984,780 Union Bank 979,160
Federal Home Loan Bank 5KOW 125% N/A 08/09/16 U822119 N/22/17 844 1.25% 500,000 494,735 Union Bank 494,460
Federal National Mortgage Association LimiLo 0 1 20% N/A 08/03/16 02/24/20 N124/17 1.030 1 20°o 1,W0,000 987,630 Union Bank 985,630
Federal National Mongage Association 1,000,000 1.125% WA 07P27/16 07/27/21 W27i17 1,549 1.125% 1000,000 986,81D Union Bank 983,560
Federal Home Loan Mongage Corporation 1,000,000 140% NIA 09/29/I6 10/2721 N/27/17 L, l 141Po 1,000,000 978.610 Union Bank 973,WO
Federal Home Loan Bank 1000,000 100% N/A N29/16 04/28/21 N/28/17 L459 1 LON, 998,500 W4,750 Union Bank 991,480
Federal Home Latin Mortgage Corporation Lwo,000 1.13% N/A 10/12116 10/2821 W/28/17 L, 2 1.13% I00,001) 99001D Union Bank 996,770
Federal Home Loan Mongage Corporation 1000,000 1 05% N/A 10/12/16 10/28/21 N/28/17 1 642 1 05% 1 000,OOD 979,340 Union Bank 974,680
Federal Home Loan Bank 1 000000 1,25% N/A 10/24/16 11/0821 05/0g/17 1,653 1 25% 1,000,000 987A% Union Bank 983,960
Federal Home loan Bank 1.000i00 125% N/A 10/13/16 1111 W21 05.90.117 1,655 123% )'Wo,o0D 990,130 Union Bank 986,240
Federal Home Loan Mongage Corporation 1,000000 1.55% N/A 10111/16 II/1021 05/10/17 1655 155% 1000,OOD 983,840 Union Bank 978,910
Federal Home Loan Mongage Corpoaton I000-" 1.1 D% N/A 10/25/16 05/15/19 05/15/17 745 1.10% 1,000,000 1000250 Union Bank 10W,710
Federal Home Loan Bank L000000 105% N/A 10/25/16 11/15/21 05115/17 1,6W 103% LWO'b00 994,530 Union Bank 992,620
Federal Home loan Mortgage Coryoratioo Low,OOo IW1. WA 10/20/16 11/15/19 05115/17 929 1.W% 1000,o00 994,020 Union Bank 991930
Fderal[]ame Lone Mortgage Corporation L000,000 125% N/A 07/19/16 08/1621 05/iNI7 1,569 1.25% 1,000000 988,73D Union Bank 995,580
Federal Home Loan Bank 1,0N000 IW% N/A 10/20/16 11/16/20 05/16/17 12% 100% 1,000,000 992.090 Union Bank %9,010
Federal Home Loan Bank LON'000 125% N/A 10/18/16 1111721 05/17/17 1662 125% I,DOO,OW 988,260 Union Bank 993,740
Federal Home Loan Mortgage Corporamn IpG(mmo 1.50% NIA 10/17/16 11/30/21 05118/17 1.675 1.50% 1,000000 987,9W Union Bank 981490
Federal National Mongage Association 2,000000 103% N/A 05/21/13 05/21/18 05/21/17 386 103% 2000,WO 1995,78) Union Bank 1.989,180
Federal Home Loan Mortgage Corparalmin I'"'000 130% N/A 1024/16 11/22/21 05/22/17 1667 1.3(P/ 1,000W0 989,020 Union Bank 985,150
Federal Farm Credit Bank 50,000 0.625% N/A 0522/15 05l22/17 N/A 22 0,625% 500000 4W,940 Union Bank 499910
Federal Home Loan Bank 1,000,000 1 10% N/A 10/26/16 11/23/21 0523/17 1,668 1 301. 1000000 989,710 Union Bank 985,270
Federal Home Lunn Mortgage Corporation 500,000 130% N/A 0WOV16 0823/19 05123117 845 130°0 5W,000 497,325 Union Bank 497,135
Federal National Mortgage Association I,WO,WO 1.13% N/A 08/03/16 11/24/20 05/24/17 1,304 1.13% 1,000000 982,110 Union Bank 977,910
Federal National Mongage Association L000,000 100% N/A 08MV16 08/24/21 0524/17 1,577 100°/ I,OW,OW W4320 Union Bank 992,120
Federal Home Loan Mortgage Corporation 1'wo'm IWl° N/A OR08/16 01V24/21 05/24/17 1577 100°0 1000000 994,890 Union Hank 992,710
Federal Home Loan Mortgage Corporation I,ONO,m 1.50°/ N/A 05/25/16 05/25/21 05125/17 1,496 150% 1o00000 985,510 Union Bank 981570
Federel Home Loan Bank 500,000 1.25% N/A 052SA6 05/25/21 05/25/17 1,496 125% MOO 495,145 Union Bank 493,205
Federal Home Loan Mortgage Corporation 500,000 125% N/A 05!25/I6 0525/21 05/25/17 1,4R6 125% 500000 494,915 Union Bank 493,220
Federal Home Loan Bank 500,WO 1.125% NIA 05.27/15 0527/21 05/25/17 1,488 1,125% 499,W0 496,315 Union Bank 494,33D
Federal Home Lunn Mortgage Corporation 2,WO," 1.5014. N/A )WIR/16 08/25C] 0525/17 1,579 LSO% 2,000,1)00 1979,160 Union Bank 1,970,980
Federal Home loan Bank I'tw." 155% N/A 11/0216 HC621 05/26/17 1,671 1.55% 1,000000 W3,870 Union Hank 988,90D
Federal National Mortgage Association 500000 1.125% NA 0226/16 022621 05/26/17 1,398 1.125% 500,000 498,625 Union Bank 498,071)
Federal National Mortgage Association 500,000 1 D(PS N/A 02/26/I6 02/2621 05/26/17 1,398 1 00°0 50000 499,520 Union Bank 498,960
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
April 30,2017
Par Coupon Purchase Maturity Firat cxt Optional Days Wield Adjusted Category (mimm only) Prior Qtr.
Value Rate Raring Date Date Call Date. tom to Maturity Cost Basis Total Market Value Source Market Value
Short To.Investments(Courinved)
(1 year or less)
U S.Uov't Agency Securities(Continued)
Federal National Mortgage Association 500,W0 1 41 WA 02/26/16 11/26/19 05/26/17 940 1,40°/ 500000 496,705 From Bank 495,820
Federal l tome Loan Mortgage Corporation 50W,WW 1.25% N/A 02/26/16 02/2621 0526/17 1,398 125% 500,W0 491615 Union Bank 494,345
Federal Farm Credit Bank I,OW,WO 13(A/ N/A 06/06/16 06/06119 06/06/17 767 13W°/ 1,W00,WW 993,040 Union Bank 992,600
Federal Home Loan Mortgage Cmpara0on 10WOOo 125% N/A 06/09/16 06/09/21 M/09/17 1501 1.25% 1,000000 995010 Union Bank 992,080
Federal I lame Loan Mortgage Corporation l'txV'000 1.85% N/A 11/15/16 12/14/21 06/14/17 1,699 185% Iow,WO 998,870 Union Bank 995,660
Federal Home Loan Bank 1,000000 125% NA W/16/16 06/16/21 06/16/17 1,508 125% 998,500 988500 Union Bank 994,470
Fed eral Home Loan Murtgage Corporation 1000,000 IW% N/A 11!16116 W/16/20 06/16/17 L143 LOTI. I,0W,000 991560 Union Bank 996,780
Federal I lame Loan Mortgage Corporation Z,WW,OW I.W% N/A W/2W12 W/20/17 06/20/I7 143 100% 20000W 2,000,8W Union Bank 2,001,340
Federal Farm Credit Bank 1,000,0W 1.12% N/A 06/20A6 W/27/19 0627/17 788 1_I2% I,OW,OW 989,860 Union Bank 989,320
Federal Home Loan Bank I W0,000 163% N/A 11/29/16 12/2821 06/28/17 1,703 1.63% 1,000,0W 9999W Union Bank 998,930
Federal National Mortgage Association I.WO,OW I IO% N/A ON206 OG/28/19 o6R8/17 789 1.10% 1,(10QOW 989,0% Union Bank 988,520
Federal National Mortgage Association 500" 1375% N/A 03A0/16 03/30/21 W/30117 1,430 1.375% 500,OW 49065 Union Bank 492,235
Federal Home Loan Bank 10WOW 2,OW% N/A 11/30/16 1Z3021 WM/17 1,705 2.W% LWO,OW 1000,040 Union Bank 998,040
Federal Home Loan Mortgage Corporation 1,000,000 1.51Y/ N/A 09/12/16 W/3021 06r30/17 1614 1.50% 1000,OW 993,530 Union Bank 989,420
Federal Farm Credit Bank 500,000 108% N/A 08/04A6 0&15/19 08/15/17 837 108% 5W,000 496,350 Union Bank 496,125
Federal Nan onal Mortgage Association 1,000,000 1.10% N/A 08,'03/16 O9/23.99 )823/17 845 1.101. 1000,OW 990,530 Union Bank 990,020
Federal National Mortgage Association I,ow'000 141P/ N/A 08103,16 0825/21 08/25/17 1,578 IpW°n IO o'" 974,W0 Union Bank 968,770
Federal National Mortgage Association 2,01 125% N/A 08/04/16 0828/20 08/28/17 1,216 125% 2,WO,000 1,953920 Union Bank 1,949020
Federal Farm Credit Bank IM00000 112% N/A 10/19/16 INI U19 10/11/17 894 1.120/, 999,250 990,130 Union Bank 989,4W
Federal National Mortgage Association 1,000,000 1 17% N/A 10/25/16 11/I5,'19 1U15117 929 1.17% 998,750 987,5W Union Bank 985,580
Federal Home Loam Bank I,W0,000 1 W% N/A 10/26/16 11/17/21 11A 7117 L662 10W% 1,000,W0 995,430 Union Bank 992,840
Federal Home Lour Mortgage Corporation I,WO,WD 1.20% WA 11/01/16 1129/19 11/21)A7 W3 I20/ I'tai 988790 Union Bank 986,920
Federal Home Loan Bank LWOWO 170% NIA 11/I7/16 12/08/21 12/08/17 1683 17095 LOW,WO 997,500 Union Bank 993,430
56,500,W0 56,494,W0 55,989,265 55.828,96jl
'rime Deposits
Goldman Sachs Bank CD 200,WO 1.8tP/o WA 7/25/12 7/25/17 N/A 86 1.81Y/ 199,600 200,486 Union Bank 2Wi"8
Discover Bank CD 2W,WW 19(X/o N/A 726/12 7/26117 N/A 87 17O% 2W,000 2W0516 llnion Bank 200,686
4W,WO 198,600 401002 401,334
Medium Term Investments
(1 year to 3 years)
U.S Go/t Alien,Sec nny,
Federal National Mortgage Association 2.M,WO 1,10% N/A 03/12/13 ON12/18 03/12/18 316 1.10% 2,WO,000 1W9,580 Union Bank 1,999,3W
Financing Corporamint(FICO) 500,000 9,80% N/A 04/06/88 04/06/18 WA 341 9.80% 498,594 539,445 Bank oFAme,ic. 543,110
Federal Farm Credit Bank 500000 1.03% N/A 02/24/16 02/12/19 WA 653 1(13% 499,850 497,795 Union Bank 497.715
3 M,000 2,998,444 31036,820 3,040125
Total Invested Cash S 142,40g509 $ 1",142,890 S 143,620,455 S 142,775,196
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
April 30, 2017
Yield Adjusted
Par Value Coupon Rating Maturi to Maturity Cost Basis Category Total
Total Invested Cash $ 144,142,890 $ 144,142,890
$ 144,142,890
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) 34,000 0.002 N/A open 0.20% 34,000
-Bank of America
Workers Compensation -Bank of America -809 N/A N/A open None -809
General Liability- Bank of America 30,000 N/A N/A open None 30,000
1930's General Store Museum-Bank of America 13,607 N/A N/A open None 13,607
On-Line Credit Card Fire Inspection Fees 85,326 N/A N/A open None 85,326
-Bank of America
On-Line Credit Card Transportation Permits 5,633 N/A N/A open None 5,633 2,136,215
-Bank of America
Total Cash Deposited $ 146,279,106
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
April 30, 2017
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Ratimg Maturi to Maturity Cost Basis Total Market Value Source Market Value
1998 Airport PFC
Invesco Government&Agency Private 879,960 variable AAA open 0.01% 879,960 879,960 US Bank 829,025
879.960
2006 Airport PFC
Invesco Government&Agency Private 1,774,590 variable AAA open 0.01% 1,774,590 1774,590 US Bank 1,652,259
1,774,590
2007 Refunding lease Revenue Bonds
First American Government Obligation 30 variable AAA open 0.01% 30 30 US Bank 1,084,969
30
2007A&13"fax Allocation Bonds
First American Government 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 591,436 variable AAA open 0.01% 591,436 591,436 US Bank 591,170
591,436
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Govemment&Agency Private 3,199,394 variable AAA open 0.01% 3,199,394 3,199,394 US Bank 3,197,957
3,199 394
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE& RELATED FUNDS
April 30, 2017
Par Coupon Yield Adjusted Category (memo only) Prior Qtr_
Value Rate Ratio e Maturi to Maturity Cost Basis Total Market Value Source Market Value
2012/20M Convention Center s
First American Government Obligation t,353,847 variable AAA open 0.01% 1,353,847 1,353,847 US Bank 12,681
1,353,847
2014 Merged Project I &2/Housing Refunding
First American Government Obligation 492.636 variable AAA open 0.01% 492,636 492,636 US Bank 492,528
492,636
2015 Reassesmenl District No 2015-1
First American Government Obligation 274,472 variable AAA open 0,01% 274,472 274,472 US Bunk 274,411
274,472
2015 Local Measure A Sales Tax
First American Government Obligation 1,113,391 variable AAA open 0,01% 1,113,391 1,113,391 US Bank 1,113,147
1,113,391
2015 Refunding Lease Revenue Bonds
First American Govemment Obligation 130,925 variable AAA open 0.01% 130,925 130,925 US Bank 0
130,925
Chevron/CoGen Lease Proceeds
Cash 716,877 N/A N/A demand None 716,877 716,877 Deutsche Bank 716,877
716,877
Funds With Century Golf 1,243563 N/A N/A demand None 1243,563 1,243,563 Century Golf 1,185,312
1,243,563
Totals 11,771,139 11,771,139 $ 11,150,353
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
April 30, 2017
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.92%
1 year to 3 years N/A 50.00% 2.08%
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 N/A 10.00% 0.28%
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% 19.96%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 0.00%
LAIF N/A 100.00% 22.18%
U.S. Government Agencies N/A 60.00% 41.27%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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