HomeMy WebLinkAbout3/15/2017 - STAFF REPORTS - 1.C. O�VALM Sp0
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�R`'FO %V1 City Council Staff Report
DATE: March 15, 2017 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
January 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 January 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
$145,528,986 plus $8,364,429 bond issue capital projects, reserve and debt
service funds. There is an additional $2,309,292 in various miscellaneous/trust
accounts. The market value of the invested cash is $144,863,593.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of January 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.
ITEM NO. 1 • C
City Council Staff Report
March 15, 2017— Page 2
Treasurer's Investment Report as of January 31, 2017
The weighted average maturity (WAM) of the portfolio is 552.42 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 .
Q
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
January 31, 2017
On Call Deposits Adjusted Basis Category Total Percentaee
Checking Account $ 24,519,910
CalTrust ShortTerm 28,708,702
State Pool 31,909,330 $ 85,137,942 58,50%
Short Term Investments
(1 year or less)
U.S.Gov't Agencies 56,994,000
Time Deposits 398,600 57,392,600 39.44%
Medium Term Investments
(1 year to 3 ears)
U.S. Govt Agencies 2,998,444
2,998,444 2.06%
Long Term Investments
(3 yearto 5 ears)
0 0 0.00%
$ 145,528,986 100.00%
treasrep
2/28/2017
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
January 31,2017
Par Coulon" Purchase Maturity FirsvNem Optional Days Yield Adustcd Category (memo only) Prim(hr.
Value Ratte Min¢ Da(e Data Coll Drat t_p Mg(uritr F,Maturit Cost Basis Iwal Marko Value Soured Market Value
Checking-Bank of America S 24,519,910 N/A AAA demand VA I None 24,519910 S 24,519,910 Bank of America 6,864,297
CelTrust ShonTerm 27,500,000 variable N/4 demand N/A 1 094% 28.708,702 28,693,794 CalTrust 31,09,479
Local Agency Invest Fund LAW) 31,500,000 variable N/A demand N/A 1 0751% 31,909,330 31,890,945 LA ' 31,827,022
83,519910 85,137,942 85,104,648 70,36 ,798
Short Term Investments
(1 year or less)
U S-Gott Agency Securities
Federol Farm Credit Bank 500,000 1.58% N/A 05/17/16 02/17/21 01/01/17 1,478 158% 500,000 493085 Union Bank 489,755
Federal Home Loan Bank 1,000mly 1.50°e N/A 09/12/16 10/11/21 Ol/12/17 1,715 1.50% 1,000,000 977,860 Union Bank 976,770
Federal Sational Mortgage Association 1,000,000 1.125% N/A 0727/16 07/27/21 01/27/17 L638 1.125% L000,000 982,520 Union Bank 981,410
Federal Home Leon Bank I,000,OOD 10^ N/A N,129/16 04/28/21 01/28/17 1,548 100% 998,500 989630 Union Bank 988,690
Federal Homc Loan Mortgage Corporation 1,000,000 1,55% N/A 10/11/16 11/10/21 02/10117 1,744 155% 1,000,000 978,470 Union Bank 977,410
Federal Home Loan Mortgage Corporation 1,000,000 100% N/A 10/20/16 11/15/19 02/15/17 1,018 100% 1,000,000 991,140 Union Bank 99Q310
Federal Home Loan Mortgage Corporation 100QOOo 125% N/A 07/19/16 08/16/21 02/16/17 1,658 125% 1,000,000 984,720 Union Bank 983,800
federal Home Loan Mortgage Corporation 1,000,00D 1,50°e N/A 10/17/16 11/3021 02/I8/17 1,764 1,50% 1,000,000 963,190 Union Bank 982,220
Federal National Mortgage Association 2,000,000 103% N/A 0521/13 05/21/I8 0221/17 475 103% 2,000,000 1,987,380 Union Bank 1,986,140
Federal Home Loan Bank 500,000 1,25% N/A 08/09/16 08/22/19 0222/17 913 125% 500,000 494,650 Union Bank 494,260
federal Home Loan Mortgage Corporation 500,000 1.30°e N/.A 08/09/16 09/23/19 02/23117 934 1.30% 500,000 497,555 Union Bank 495,180
Federal National Mortgage Association 1,000,000 1.13% N/A 08/03/16 11/24/20 02/24/17 1393 1.13% 1,000,000 976,860 Union Bank 975,650
Federal National Mortgage Association 1000,000 120°o N/A 08/03/16 02/24/20 0224/17 1,119 12D% 1,000,000 985,540 Union Bank 984,630
Federal National Mortgage,Association 1000,000 I.00% NIA 08/03/16 09/24/21 02/24/17 1,666 1.00°/ 1,000,000 990,790 Union Bank 99860
Federal home Loan Mortgage Corporation 1,000,000 100% N/A 08,108/16 08/24/21 0224/17 1666 100% 1,000,000 991460 Union Bank 990,560
Federal National Mad,,Assoaiaomn 500,000 125% N/A 08/09/16 02/24/20 02/24/17 1,119 125% 500,OW 493,035 Union Bank 492,630
federal National Mortgage Aascnu me, 50D,000 1,50% N/A 02/24,116 11/24/21) 0224117 1,393 150% 500,OW 496,805 Union Bank 496,430
Federal Home Loan Mortgage Corporation 1,000,000 1,50% N/A 05/25/16 05/25/21 02/25/17 1,575 1.50% 1,000,0w 990,930 Union Bank 979,960
Federal Home Loan Bank 500,000 1,25% N/A 05/25/16 052521 0225/17 1575 125% 500000 492,665 Union Bank 492,210
fcdorel Home Loan Mortgage Corporation 500,000 125% N/A 0525/16 05/25/21 02,25/17 1,575 125% 500,OW 492,895 Union Bank 492,450
Federal Home Loan Bank 500,000 1.125% N/A 05/27/15 05/27/21 0225/17 1,577 1.125% 499,000 493,375 Union Bank 492,875
Federal Home Loan Mortgage Corporation 2,000,000 1.50% N/A 07/I8/16 082521 0225/17 1667 15bad, 2,000.003 1,970,380 Union Bank L%8560
Federal National Mortgage Association 500,000 1.125% N/A 0226/16 02/26/21 02/26/17 1,487 1.125% 500,000 497,660 Union Bank 497,265
Federal National Mortgage Association 500,000 1.00% N/A 02,'2696 02/2N21 0226/17 1,487 1.00% 500,000 498,6% Union Bank 499,375
Federal National Mortgage Association 500,000 I40% N/A 02/26/16 11/26/19 OMO17 1029 140°o 500,000 495,860 Union Bank 495,490
Federal Home Loan Mortgage Corporation 500,000 125% N/A 0226/16 02/26/21 02,26117 1,487 125% 500,000 496,895 Union Bank 496,565
Federal Home Loan Mortgage Corporation 1,000,000 1.25% N/A 06,109/16 06/09/21 03/09/17 1,590 125% 1,000,000 991,200 Union Bank 990,310
Federol\.tmnil Mortgage Aseaeiaten 500,000 100% N/A 03/10/16 03/1021 03/10/17 1499 1009/6 500,000 49905 union Bank 499,325
Federal Home lain Mortgage Corporation 1,000,000 1.85% N/A 11/15/16 12/1421 03/14/17 1,778 1.85% 1,000,000 995,900 Union Bank 995,230
Federal Home Loan Bank 1,000,000 1.25% N/A 061IN16 06/16/21 03/16/17 1,597 125% 998,500 993,100 Union Bank 982,120
Federal Home Loan Mortgage Corporation 2,000,000 100% N/A 09/20/12 09/20,117 03R0/17 232 100% 2,000,000 2,000,960 Union Bank 2,001,040
Federal National Mortgage Association 500,000 1375% N/A 03AW16 03/3021 03/30/17 1,519 1375% 500,000 491,805 Union Bank 491,190
Federal Home Loan Bank 1,000,000 2.00% N/A 11/30/16 12/30/21 03/30/17 1,794 2.00% 1,000,000 998,320 Union Bank 1000,050
Federal Home Loan Mortgage Corporation L000,000 1.50% N/A 09/1116 09/3021 03/30/17 1,703 1.50°n 1,000,000 989,260 I7nion Bank 988,440
Federal Home Land Mortgage Corporation 1,000,000 100% N/A 11/1onto 06/IN20 06/16/17 1,232 100% 1,000,000 996,080 Union Bank 995,630
Federal Home Loan Bank 1,000,000 1.63% N/A 11/29/16 1228R1 06/29/17 1792 1.63% 1,000,000 998,210 Union Bank 997,790
Federal l lome Loan Bank 1.000,000 170% N/A 11/17/16 12/08/21 12/OK17 1,772 190% 1,000,000 992,840 Union Bank 992,150
C
[ream,
1/28/2017
TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
January 31,2017
Par Coupon Purchase Maturity FimVXnd Optional Days Yield Adjusted Category (memo only) Prior Qu.
Value Rate Rama Date Date Call Date to Martin mMatun_ty Cost Basis Total Market Value Source Market Value
Short Term Investments(Continued)
(1 year or less)
U.S.Gov't Agency Seventies(Continued)
Federal Home Loan Mortgage Corporation 1,000,000 1,40% N/A 09/29/16 10/27/21 04/27/17 1,730 140% I,OW,WO 972,880 Union Bank 971,7W
Federal home Loan Mortgage Corporation 1,000,000 1.13% N/A 10/12/16 10/28/21 04/28/17 1,731 113% IOW,WO 986,260 Guinn Bank 985,460
Federal Home Loan Mortgage Corporation 1,000,000 105% N/A 10/12/16 10/28/21 04/28.97 1,731 1,05% 1,0w,Wo 981,190 Union Bank 980,150
Federal Home Loan Bank 1,000,000 1,25% N/A 10/24/16 11/09/21 05/08/17 1,742 125% 10W,W0 993,270 Union Bank 980,120
Federal home Loan Bank 1000,OW 125% N/A 10113/16 11/10/21 05/10/17 1,744 125% 1000,000 994,860 Union Bank e93860
Federal Home Loan Mortgage Corporation 1,000,0W 1,10% N/A 10/25/16 05/15/19 05/15/17 834 11T/. 1000,Wo 1,001760 Union Bank 1,002,150
Federal Hume Loan Bank 1,00,OW 1.05% N/A 10/25/16 11/15/21 05/15/17 1749 105°A 10W,W0 991,1W Union Bank 990,470
Federal home Loan Bank 1,00Q000 100°/ N/A 1020/16 11/16/20 05/16/17 1,385 100°/ 10W,W0 989,210 Union Bank 985,600
Federal Home loan Bank 10W,OW 1.25% N/A 1D/18/16 11/1721 05/17/17 1,751 1.25% 1,000,Wo 982,570 Union Bank 981,570
Federal Home Loan Mortgage Corporation 1000,OW 130% N/A 10/24/16 11/22/21 0522/17 1,756 130% 1,000,000 994,720 Union Bank 983800
Federal Farm Credit Bank 500,000 0625% N/A 05/2215 05/22/17 N/A 111 0,625% 500,0W 50035 Union Bank 499,925
Federal Home Loan Bank 1,000000 130% N/A 1026/16 II/2321 05/23/17 1,757 1.30% I'M0,00D 984,070 Union Bank 983,180
Federal Home Loan Bank 1D00000 1.55% N/A 11!01,16 112621 05/26/17 1,760 1.55% 1,W0000 987,940 Union Bank 987,100
Federal Farm Credit Bank 1D00000 1.30% N/A 06/0696 0N06119 06/06I17 956 130% I,W0,000 9%,320 Union Bank 995,760
Federal Farm Credit Bank 1,000,000 1,12% N/A 06/20/16 OU27/19 DS/27/17 877 112% 1,W0,000 989,310 Union Bank 987,760
Federal National Men",Association IOOO,WO I IV1 WA 06/20/16 0628119 W28117 878 1 IM/ 1W0,000 988,620 Union Bank 988,090
Federal Tam Credit Bank 500,000 108% N/A OS/O4/16 08/15/19 OB/15/17 926 108% 500,000 495,175 Union Bank 493,795
Federal National Mortgage Association 1,000,WO I.10°o N/A 08/03/16 0823/19 0123/I7 934 LID% 1000,000 990,090 Union Hark, 987,050
Federal National Mortgage Association IWa,WO 130% N/A 08/03/16 0S/25/21 08/25/17 If,67 I40% 1,000,000 969,020 Union Bank 967,850
Federal National Mortgage Association 2,W1,W0 125% N/A 0810t/16 08/28/20 OF28/17 1305 1.25% 2,000,000 1,947,180 Umen Bank 1945,000
Federal Form Credit Bank I,WO,Wo 1.12% N/A 10/19Ao 10/II/19 I0111/17 983 1.12% 999,250 988,590 Ilninn Book 989,500
Federal National Mortgage Association 1000,W0 1.17% N/A 1025/16 II/15/19 11/15/17 1018 1.17% 998,750 985,260 Union Bank 984,360
Federal l lame Loan Bank 1,000,000 1,00% N/A 10/26/16 Ili 17,,21 11/17/17 1751 1 01Wv 1,000,0W 991270 Union Bank 990,480
Federal Home Loan Mortgage Corporation 1,000,000 1.20'/ N/A 11/01/16 11/29,19 11,129/17 1,032 1.20% 1,000,9W 986,270 Union Bank 985,400
57,000,000 56,994,000 56,306,460 56,252,850
Time Deposits
Goldman Sachs Bank CD 200,000 1.80% N/A 725/12 7/25/17 N/A 175 180% 198,600 201080 Union Bank 201134
Discover Bank CD 200000 170% N/A 7/26/12 726/17 N/A 176 170% 2W,000 201,136 Union Bank 201,1%
400,000 398,600 402,216 402,330
Medium Pm Lu'av mans
(1 y er
ear m 3 years)
U.S.Gov't Agency Securities
Federal Notionot Mortgage Association 2000,000 1.10% N/A 03/12/13 03/12/18 03/12,18 405 1.10% 2,000,000 2,W2,140 Union Bank 1999860
Financing Corporation(F[CO) 500,OW 9.80% N/A 04/0NR8 04/06/18 N/A 430 9.80% 498,594 550,614 Bank of Amen. 557,986
Federal Farm Credit Bank 5W,000 1.03% N/A OV24/16 02/12/19 N/A 742 103% 499.850 497,515 Union Bank 496,915
3 000000 2,998,444 3,050,269 3,049,761
Total Invested Cash $ 143,919,910 $ 145,528996 $ 144,863,593 S 130,065,739
Current Quarter PmtPo1i0 Yield 0 89°/ 1 00%
tro rep
2282017
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
January 31, 2017
Yield Adjusted
Par Value Coupon Rating Maturi to Maturity Cost Basis Category Total
Total Invested Cash $ 145,528,986 $ 145,528,986
$ 145,528,986
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency- Bank of America 1,942,193 N/A N/A open None 1,942,193
Downpayment Assistance(Housing Fund) 33,984 0.20% N/A open 0,20% 33,984
-Bank of America
Workers Compensation-Bank of America 84,629 N/A N/A open None 84,629
General Liability-Bank of America 29,770 N/A N/A open None 29,770
1930's General Store Museum -Bank of America 14,133 N/A N/A open None 14,133
On-Line Credit Card Fire Inspection Fees 188,027 N/A N/A open None 188,027
-Bank of America
On-Line Credit Card Transportation Permits 12,607 N/A N/A open None 12,607 2,309,292
-Bank of America
Total Cash Deposited $ 147,838,278
treasrep
2/28/2017
TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE &RELATED FUNDS
January 31, 2017
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value
1998 Airport PFC
Invesco Government&Agency Private 727,372 variable AAA open 0,01% 727,372 727,372 US Bank 2,392,574
727,372
2006 Airport PFC
Invesco Government&Agency Private 1,407,993 variable AAA open 0.01% 1,407,993 1,407,993 US Bank 1,599,707
1,407,993
2007 Refunding Lease Revenue Bands
First American Government Obligation 0 variable AAA open 0.01% 0 0 US Bank 0
0
2007A&B Tax Allocation Bonds
First American Government Obligation 30 variable AAA open 0,01% 30 30 US Bank 30
30
2007C I as Allocation Bonds
First American Government Obligation 21 variable AAA open 0 01% 21 21 US Bank 19
21
2008 Airport PFC Refunding
Invesco Government&Agency Private 590,738 variable AAA open 0.01% 590,738 590,738 US Bank 601,584
590,738
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,t95,619 variable AAA open 0.01% 3,195,619 3,t95,619 US Banc 3,194,674
3,195,619
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2/28R617
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
January 31, 2017
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Ruling Malurivi to Maturity Cost Basis Total Market Value Source Market Value
2012/2014 Convention Center
First American Government Obligation 12,677 variable AAA open 0.01% 12,677 t2,677 US Bank 12,676
12,677
2014 Merged Project 1 &2/Housing Refunding
First American Government Obligation 6 variable AAA open 0.01% 6 6 US Bank 6
6
2015 Reassesment District No.2015-1
First American Government Obligation 274,357 variable AAA open 0.01% 274,357 274,357 US Bank 274,337
274,357
2015 Local Measure A Sales Tax
First American Government Obligation 1,112,822 variable AAA open 0.01% 1,112,822 1,112,822 US Bank 1,112,743
1,112,822
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 325,916 N/A N/A demand None 325,916 325,916 Century Golf 262,793
325,9t6
Totals 8,364,429 8364,429 $ 10,158,020
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2/28/2017
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
January 31, 2017
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.94%
1 year to 3 years N/A 50.00% 2.06%
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% 19.73%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 0.00%
LAIF N/A 100.00% 21.93%
U.S. Government Agencies N/A 60.00% 41.22%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
treasrep
2/28/2017
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