HomeMy WebLinkAbout4/5/2017 - STAFF REPORTS - 1.C. ALM Sp9
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F012t City Council Staff Report
DATE: April 5, 2017 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
February 28, 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 February 28, 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
$147,039,524 plus $10,322,822 bond issue capital projects, reserve and debt
service funds. There is an additional $2,317,379 in various miscellaneous/trust
accounts. The market value of the invested cash is $146,444,427.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of February 28, 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. 2 ' C'
City Council Staff Report
April 5, 2017— Page 2
Treasurer's Investment Report as of February, 2017
The weighted average maturity (WAM) of the portfolio is 535.25 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
Gamey 5. Kiehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
February 28, 2017
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 26,008,072
CalTrust ShortTerm 28,731,078
State Pool 31,909,330 $ 86,648,480 58.93%
Short Term Investments
(1 year or less)
U.S. Gov't Agencies 56,994,000
Time Deposits 398,600 57,392,600 39.03%
Medium Term Investments
(1 year to 3 ears)
U.S. Gov't Agencies 2,998,444
2,998,444 2.04%
Long Term Investments
(3 year to 5 years)
0 0 0.00%
$ 147,039,524 100.00%
treasrep
3/23/2017
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Total Investment Allocation
$147,039,524 City of Palm Springs As of 02/28/2017
■ 0.3% 10 Checking Account
Q 17.7%
0 21.7%
CalTrust ShortTerm
m U.S. Gov't Agencies
X 19.5%
State Pool
1111 ■ Time Deposits
II 40.8%
0
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TREASURER'S MONTHLY REPORT _
DETAIL OF INVESTMENTS
February 28,2017
Par Coupon Purchase Mmunly Foo Neon Qpticnal Days Yield Adjusted Category (memo oniy) N.rQh
Value Rine mpg Date Date Call Ilme tom to C.B.ia Trial Market Value Source Markel Value
On Call De irs
CTecking-Badof America 5 26,008,072 NIA A.AA demand WA 1 None 26,008,072 $ 26,008072 Bank of Amema 6,864,297
CalTrusl ShortTerm 27,500,000 variable N/A demand N/A 1 0.96% 28,731,078 29,744,829 CaMneA 31669479
Weal Agency invest Fund(LA6) 31.500.000 variable N/A demand N/A 1 077N. 31909,330 31,890,945 LAW 31,827,022
85006072 96,648480 86,641,846 70,360,798
ghwt Term brie nen6
(1 year or 1.a)
U.S.Gott Agency Securities
Federal Farm Credit Bank 500,000 1.58% N/A O5/17116 02/1721 02/011]7 1,450 L58% 500,000 494,555 Union Bank 489,755
Federal Home Wan Mortgage Cmomloo 1,000,000 15511, N/A 1D/1I/16 11/1021 02/10/17 1716 155% L000,00 979,970 Union Bank 977,410
Federal Homo Wan Bad L000,000 1,50% N/A 09/12116 1011221 02/12/17 1,697 150% I,Do0,00o 979,390 Union Bank 976,770
Federal Home Wan Mortgage Cmormion L000,000 1.00'/ N/A ID20/16 H115/19 02115/17 990 1.00% 1000000 991580 Umum Bank 990,310
Federal Home Loan Mangano Cmporation Loo0,000 125% N/A 07/19/16 09/1621 0211&17 1,630 125% 1,000,000 995,910 Union Bank 983,800
Federal Home Wan Mortgage Corpwatmn L00D,o00 15W. N/A IW17/16 11/3021 02/18/17 1,736 1.50% 1000000 9M,500 Union Bank 982,220
Federal Naeal Mortgage Aameiame 2,000,000 1,03% N/A 0521/13 0521/is 0221/17 447 1.03% 2000000 1,988,980 Union Bank 1986,140
Federal Home Linn Bad Soo," 1.25% N/A OV09/16 0822/19 0222/17 W5 125% 500,000 494,885 Union Bank 494,263
Federal Home Wan Mortgage Curler. 500,000 1.3W/ N/A 08/D9/I6 0823/19 0223117 906 13W. 500,000 497,650 Union Bank 495,180
Federal National Mortgage Aasocimlon 1000,o00 1.13% NIA OW03/16 112420 0224/17 1,365 1.13% 100000 978,460 Union Bank 975610
Federal National Mortgage A aeiadm 1,000000 1.201% N/A 0&03/16 0224aO 02,14/17 1,091 12Wo 1,000,000 986,000 Union Bank 984,630
Fedmal National Mortgage Asewiatlm, 1,000,000 1001/ NIA 08/03/16 08/2421 0224117 1,638 1owo 1,000,000 W1,910 Union Bank 989,8W
Federal Home Wan Mortgage Corpomion 1,000000 1.00% N/A 0&OS/16 08,7421 0224/17 1,638 1OW/e 1,000,000 992,540 Union Bank 9 ,,do
Federal Notional Mortgage Asmciaman 500,000 125% N/A 0&09/I6 022420 0224117 Loot 125% 500,000 493,200 Union Bank 492,610
Federal Nivanal Mortgage A-union 500,000 1.5Wo NIA 02,24/16 1124,20 0224/17 1,365 15Wo 500,000 4KW5 Union Bank 4%,430
Federal Home Wan Mongege Corpomt0n 1 000,000 1.5W/o N/A 05/25/16 052521 0225/17 1,547 1.50% 1,000,000 982,240 Union Bank 97,w
Feder]Home Loan Bank 500,000 125% N/A 0525/l6 052521 0225117 1,147 1.25% 500,000 493AW Union Bank 492,210
Fedmal Home Wan Mortgage Cou,wrati0n 500,000 125% WA 0525116 05/2521 0225/17 1,547 125% 500,000 493,485 Union Bank 492,450
Federal Home Loan Dad 500,000 1125% N/A 0527/15 052721 02/25/17 1549 1.125% 499,000 494,285 Union Bank 492,875
Feder]Home Loan Mortgage Corpmmion 2,000,000 15W. WA 07/1&16 082521 022917 1,619 150% 2,000,000 1,972,880 Union Bad 1,968,560
Federal Nammil Mortgage Martin.. 500,000 1.125% N/A 02126/16 012621 0226/V 1,459 1.125% 500,000 498,080 Union Bad 497,265
Federal Nadom Mortgage ksrearon 5W,000 IOW. N/A 0226/16 022621 OV26/17 1459 1O A 5000W 499,035 Union Bank 498,371
Federal National Mmmage Amocuumn 50D,000 Id/. WA 02/26/16 11/26/19 O26/17 1,001 140. 50D,000 496,050 Union Bad 495,490
Federal Home Lou Mm"We Cerpomumn 500,000 1.25% N/A 02/26/16 022621 OV26117 1,459 125% soo,000 497,355 Union Bank 496,565
Federal Home Wen Mortgage Cotpomton 1000,000 1.25% WA 06109/16 06mi'al 03/09/17 1562 125% 1,000,000 992,140 Union Bank 990,310
Federal National Monona Aasoranon 500,D00 1OW/o N/A 03/10/16 03/1021 03/10/17 1471 100% owo00 499,905 Union Bad 499,325
Federal Home loan MOngnge Corp0mlion 1000,D00 1.85% N/A 11/15/16 11114QI 03,W17 1,750 1,85% I,ODO,CW 996,730 Union Bad 995,230
Federal Home Wan Bad 100mo0 121% WA 0611&16 06/1621 03/16/17 1569 1,25% 998,600 984380 Union Bank 982,120
Federal Home Wan Mongege Corywiman 2,000.OW 10091a N/A 09/20/12 0920/17 03,W17 204 IOWo 2,000,000 2,000,420 Union Bad 2,001,040
Federal Notarial Mortgage Assmomm 500,000 1.375% N/A 03/30,116 03/30/21 03/30/17 1.491 1.375% 500,OW 492,640 Union Bank 491,190
Federal 11.Wan Boole 1000000 20WA N/A 11/3016 IV30121 03/30/17 1.766 200% 1,000,000 999,100 Union Book 1,000,050
Federal Home Loan Mangan,CoWaton 1,000,000 1.5W/o N/A 09/12/16 099021 03/30/17 1675 15Wo 1,000,000 W,480 Union Bank 983,440
Federal Natom Mongege A,...DOn 1,000000 1125% N/A 07a7/16 0927/21 W27117 1,610 L125% 1,000000 983,810 Union Bank 981,410
Federal Home Wan Mortgage C.Wrafion 1000,000 14W. N/A 0929116 1027/21 O4/27/17 170E 14W. 1,000,0W 974,520 Union Bonk 971700
Federal Home Loan Bank 1,000,000 IOW. NIA 0429/16 O4/2&21 04/28.97 1520 IOWo 993,500 491,240 Union Bank 98080
Federal Home Loan Mongege Coryormmn 1000,000 1,13% N/A 10/12/16 10/21t121 04/2&17 1703 1.13% 1000,000 987.340 Union Bank 985,460
Federal l lame Wan M.D,,e CoW.. L000000 105% N/A 10/12/16 102821 042&17 1,703 105% 1,000,000 973.240 Union Bank 9ED,150
vemrep
3m/2017
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
February 28,2017
Par Coupon Purchase Maturity Firstnent Optional Lima Yield Adjusted Category (memo only) Prior Qt,.
Value Rate Ran" Djte Date Call Date to M�aturi to Maturity Cost Basis Total Market Value Source Market Value
Short Term 1mesMcre,(Continued)
(1 year or less)
L S-Govt Agene,Securities(Continued)
Federal Home Loan Bank Loo0,000 125% N/A 10'24/16 11/0821 05/08/17 1,714 1.25% 1000,000 984,610 Union Bank 980,120
Federal l tome Loan Bank 1000,000 125% N/A 10/13/16 11/10/21 05/10/17 1,716 1.25% 1000,000 996,130 Union Bank 983,860
Federal Home Loan Mortgage Corporation 1,000,000 I.109/ N/A 10/25/16 05/15,99 OSi15i17 906 1.10% 1,000,000 1,001280 Union Bank 1002,150
Federal Home Loan Bank LOOQ000 105% N/A IW25/16 11/15/21 OS/15/17 1,721 1,05% 1,000,000 992290 Union Bank roi
Federal l home Loan Bank 1000,000 IOW. N/A ID20/16 11/1&20 05116T7 1,357 100% 1000,000 989,410 Union Bank 985,600
Federal Home Loan Bank LO➢,000 1.25% NiA 10119116 11/17/21 05/V/17 1,723 1.25% LOOONO 983900 Union Bank 981,570
Federal Home Loan Mortgage Cmpmuon 1,000,000 1301/o N/A 10124/16 11=21 05/22il7 1,728 130% 1,000,000 985,9W Union Bank 983,800
Federal Farm Credit Bank 500,000 0625% N/A 05/22115 05/2117 N/A 83 0.625% 500,000 499,995 Union Bank 499,925
Federal Homo Loan Bank 1,000,000 1.30% N/A 10/26/16 H/23/21 0523/17 1,729 1.30% 1,000,000 985,920 Union Bank 983,180
Federal Home Loan Bank 1,000,000 1,55% N/A 11/02116 I126121 05/26/17 1,732 155% 1,000,000 989,870 Union Bank 987,IOD
Federal Farm Credit Bank 1,000,000 1 30% N/A 06/06/16 06,10N19 OUW17 828 13w/a LOOO,D00 992,250 Union Bank 995,760
Federal Homc Loan Mortgage Corporation 1,000,000 I.W% N/A 11/16/16 ON16/20 ON 16,117 1204 LOON LOOg000 996,440 Union Bank 995,630
Federal Farm Credit Bank I,wO,OM 1.12% N/A 06/20/16 0627119 0&27/17 M9 1_I2% L000,000 988,850 Union Bank 987,760
Fedeml Home Lan Bank 1,000,00D 163% N/A IIa9/16 12/28/21 0&2&17 I?64 163% L000,000 999,060 Union Bank 997,790
Federal National Mortgage.Association 1,000,000 L10% N/A 06/20/16 06,28/19 ON2&17 850 1.10°/ 1,000,000 989,150 Union Bank 988,090
Federal Farm Credit Bank 500,000 1.08% N/A 08/04/16 08/15/19 0&15/17 898 108% 500,W0 496,675 Union Bank 493,795
Federal National Mortgage Association I,000,000 1_I W/ N/A 08/03/16 0823/19 0&23/17 906 1.I W/o Lo00,000 990,9 to Union Bank 987.050
Federal National Mortgage Association L000,000 1.4W/ N/A 08/03/16 0825/21 0825/17 1639 14Wn 1,000,000 969,830 Union Bank %7850
federal National Mortgage Association 2,000,000 125% N/A 08/M/16 08/28/20 082&17 1,277 1.25% 2,000,000 1,949,580 Union Bank 1,945,000
Federal Fans Credit Bank I,000,WO 1.I2/, N/A 10119/16 10/1 UI9 10/11/17 955 1.12% 999,250 989,950 Union Bank 989,500
Federal National Mongagc Association I,OOg000 1.17% N/A 1025/16 11/15/19 11/15/17 990 1.17% 998,750 985,820 Union Bank 9M,360
Federal Home Lan Bank 1,000,000 IOW/ N/A IO26/16 11117/21 11117/17 1,723 LOW/ 1,000,000 992,610 Union Bank 990,480
Fedc,el Home Len Mortgage Corporation 1000,000 F20%� N/A 11101116 1129/19 1129,117 1,004 1.20% 10DO,000 986,660 Union Bank 985,400
Federal Home Loan Bank 1000,000 17W% N/A 11/17/16 12/08/21 12/08/17 1,744 19W/ LD00,0to 993,860 Union Bank 992,150
57,DOg000 56,994,000 56 450,510 56,252,850
Time Deposits
Goldman Sachs Bank CD 200,000 IMW NIA 7/25/12 725/17 N/A 147 1.8Wn 198,600 200,940 Union Bank 201,134
Discover Bank CD 200,000 1]0o/ N/A 7,261l2 7/26/17 N/A 148 17VI 200,000 200,996 Union Bank 201,196
400,000 398,6D0 401,926 402,330
Medium Tenn Investments
(1 year to 3 years)
U S_Gov't Agency Seventies
Federal National Mortgage Association 2,000,000 LI W/ N/A 03/12/13 03/12/,18 03/12/18 377 1IV/ 2,000,000 2,002,240 Union Bank 1,999,860
Financing CoMoration(FICO) 500,000 9.gWo N/A 04/06/88 04/06/18 N/A 402 98W/ 498,594 548.131 Bank ofAmenca 552,986
Federal Perm Credit Bank 50Q000 103% N/A QV24/16 02/12/19 N/A 714 103% 499,850 497,775 Union Bank 496,915
3,000,000 2,998,444 3,048,146 3,049761
Total Invested Cash S 145,408,072 S 147,039,524 $ 146,444,427 5 130,065,739
naawrry
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
February 28, 2017
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Categ_ory Total
Total Invested Cash $ 147,039,524 $ 147,039,524
$ 147,039,524
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency- Bank of America 1,938,209 N/A N/A open None 1,938,209
Downpayment Assistance(Housing Fund) 33,989 0.20% N/A open 0.20% 33,989
-Bank of America
Workers Compensation-Bank of America 85,743 N/A N/A open None 85,743
General Liability- Bank of America 28,707 N/A N/A open None 28,707
1930's General Store Museum -Bank of America 14,257 N/A N/A open None 14,257
On-Line Credit Card Fire Inspection Fees 207,512 N/A N/A open None 207,512
-Bank of America
On-Line Credit Card Transportation Permits 5,032 N/A N/A open None 5,032 2,317,399
-Bank of America
Total Cash Deposited $ 149,356,923
treasrep
3/23/2017
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE &RELATED FUNDS
February 28, 2017
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Ratine Manni to Matutilv Cost Basis Total Market Value Source Market Value
1998 Airport PFC
Invesco Government&Agency Private 778,234 variable AAA open 0,01% 779,234 778,234 US Bank 2,392,574
778,234
2006 Airport PFC
Invesco Government&Agency Private 1,530,132 variable AAA open 001% 1,530,132 1,530,132 US Bank 1,589,707
1,530,132
2007 Refunding Lease Revenue Bands
First American Government Obligation 0 variable AAA open 0,01% 0 0 US Bank 0
0
2007A&B'I'as Allocation Bonds
First American Government Obligation 368,259 variable AAA open 0.01% 368,259 368,259 US Bank 30
368,259
2007C Tax Allocation Bonds
First American Government Obligation 176,406 variable AAA open 0.01% 176,406 176,406 US Bank 19
176,406
2008 Airport PFC Refunding
Invesco Government&Agency Private 590,965 variable AAA open 0.01% 590,965 590,965 US Bank 601,584
590,965
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Govemment&Agency Private 3,196,848 variable AAA open 0.01% 3,196,848 3,196,848 US Bank 3,194,674
3,196,848
toe rep
3M/2017
TREASURER'S MONT14LY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
February 28, 2017
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate J=nB Maturity to Maturity Cost Basis Total Market Value Source Market Value
20122014 Convention Center
First American Government Obligation 12,679 variable AAA open 0.01% 12,679 12,679 US Bank 12,676
12,679
2014 Merged Project 1 &2/Housing Refunding
First American Government Obligation 812,900 variable AAA open 0.01% 812,900 912,900 US Bank 6
912,900
2015 Reassesment District No.2015-1
First American Government Obligation 274,398 variable AAA open 0,01% 274,398 274,398 US Bank 274,337
274,398
2015 Local Measure A Sales Tax
First American Government Obligation 1,112,991 variable AAA open 0.01% 1,112,991 1,112,991 US Bank 1,112,743
Ll t2,991
2015 Refunding Lease Revenue Bonds
First American Government Obligation 0 variable AAA, open 0.01% 0 0 US Bank 0
0
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 752,132 N/A N/A demand None 752,132 752,132 Century Golf 262,793
752,132
Totals 10,322,822 10,322,822 $ 10,158,020
treasrep
3/23/2017
TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
February 28, 2017
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.96%
1 year to 3 years N/A 50.00% 2.04%
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% 0.27%
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% 19.54%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 0.00%
LAIF N/A 100.00% 21.70%
U.S. Government Agencies N/A 60.00% 40.80%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
treasrep
3/23/2017
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