HomeMy WebLinkAbout1/4/2017 - STAFF REPORTS - 1.B. �OF P A LM SA4
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Cq<�FORN�P City Council Staff Report
DATE: January 4, 2017 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
NOVEMBER 30, 2016
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 November 30, 2016. 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
$127,943,216 plus $11,118,651 bond issue capital projects, reserve and debt
service funds. There is an additional $2,202,918 in various miscellaneous/trust
accounts. The market value of the invested cash is $127,362,950.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of November 30, 2016.
STAFF ANALYSIS:
The attached report includes the face value and coupon rate (if applicable) of the
investments and the source for the market value estimate. Also included is
information on the investments of bond issue reserve, debt service and related
funds.
The investments, in type, maturity and as a percentage of the total portfolio, are
in compliance with the existing City Council-approved investment policy.
rt'EM NO. 1$
City Council Staff Report
January 4, 2017— Page 2
Treasurer's Investment Report as of November 30, 2016
The weighted average maturity (WAM) of the portfolio is 589.69 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. Riehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
November 30, 2016
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 7,048,406
CalTrust ShortTenn 31,658,396
State Pool 33,845,370 S 72,552,172 56.71%
Short Term Investme
(1 ear or less) nts
U.S. Gov't Agencies 51,994,000
Time Deposits 398,600 52,392,600 40.95%
Medium Term Investments
(I ear to 3 years)
U.S.Gov't Agencies 2,998,444
2,998,444 2.34%
Long Term Investments
(3 year to 5 ears)
0 0 0.00%
$ 127,943,216 100.00%
treasmp
12/20/2016
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Total Investment Allocation
$127,943,216 City of Palm Springs As of11/30/2016
■ 0.3% IN 5.5%
Checking Account
.N 26.5%
ggg, CalTrust ShortTerm
h 24.7%
III U.S. Gov't Agencies
N State Pool
■ Time Deposits
ill 43.0%
0
a
TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
November 30,2016
Par Coupon Purchase Maturity Fo,IN mOptional Days Yield Adjoined Category (memoonly) Prior on
Value Rate Rzi ne Date Date Call In 1,Fnin, tot.M1� Cost Basis Total Market Value Service Market Win,
Checking-Bankef Amen. S 9,048,406 N/A AAA demand N/A 1 None 1,0 S,406 i 7,048,406 Bank of America 6,07497
CaRmst Shonierat 30,5W,OW variahle NIA demand WA 1 0.88% 31,658,396 31,641929 CalUmor 42625,546
Local Agency Invest Fund(LAIF) 33,500,W0 triable N/A demand N/.4 1 0678% 33,845,370 33,953,728 LAIF 42.801,284
7I,048,406 72,552,172 72,546,063 92,063,327
Short Term Investment,
(I vcar or lcs)
U.S.Gov'I Agenry Secmna,
Federal Home Loan Bank 0 148% N/A 03,02/16 03,02,20 10,'02/16 - 148% 0 0 Bank of New York 500,015
Federal Farm Credit Bonk 0 165% N/A 05,M/16 11 AWN 10/04/16 - 165% 0 0 Bank of New York 5M.010
FNeral Home Loan Mmm,,,,Coryomtion 0 1.50% N/A U421116 eW21/21 1021/16 - 1.50% 0 0 Union Bank 500.045
Federal National Mortgage Associmma 0 1.03% N/A Mali 01130/I8 10,'30,16 - 1.03% 0 0 Union Bank 3,998,320
Federal Farm Credit Bank 500,000 158% N/A 05/19/16 02117/21 I1117/16 1540 1589k 500,000 494,085 Union Bank 499.815
Federal Notional Mortgage Assonmion 2,OOO,000 1034. N/A 0521/13 05/21/18 11121/16 530 1.03% 2,OW,0W 1,986,280 Union Bank 2A(lj so
Federal Home Loan Mortgage Corporation SW,OW 1.30% N/A 03M,16 08/23A9 11/23/16 n6 130io 500,OW 495,955 Union Bank 500,120
Federal Homc Laan Mongoge Foremtion IOOO,DW 1.50% WA 05/25/16 0525121 1125116 1,632 150% 1000,O00 982,000 Least Bank 1,00,120
Federal Home Loan Bank 500,oW 115% N/A 05125/16 05125Q1 11/25/16 1,637 125% 500,OW 493,055 Union➢ank SW,125
Federal Home Loan Mortgage Coryomtion 500,0W 1.25% N/A 0525/I6 052521 1125/16 L637 125% 500,OW 493,310 Union Bank 500,100
Federal Home Loan Bank 500,OW 1125% N/A 05127/15 0527/21 11/25116 1,639 1.1250% 499,00) 493,675 Union Bank 499,W5
Federal Home Loan Mortgage Corporation 2,000,CW 150% NIA 09118/16 0925121 11/25116 1,729 1,50°0 2,W0,000 1973-240 Unmo Bank 1,995,920
Federal National Mcm;,age Association 500,000 1.125% NIA 0126,16 022601 11/26'16 1,549 1.129% 500,000 497,395 Union Bank 499,935
Federal National Mortgage A,.,.,,on 5o0,W0 100% NIA 02/2646 O212621 11/26/16 1,549 100% 500,W0 498,590 Union Bank 500,120
Federal National Mon,,Assmwri0n 5WAO 14W/e N/A 02/26/16 11/26/19 11,26/16 1,091 140% Soo,WO 4%,520 Union Bank 500,110
Federal Home Loan Mortgage Corporation SOgW0 125% N/A 02126/16 02/26121 1126116 1,549 125% 500.000 493,670 Union Bank 500,120
Federal Home Loan Mn,,Corporation LOW,W0 125% NIA W09116 06/09/21 12/D9/16 1,652 125% 1,000,000 991,610 Union Back 10w,080
Federal Hone Loan Bank 1,000,000 125% N/A 06/16/16 06/16/21 12/16/16 1,659 125% 998,5W 983,770 Union Bank I,OW,030
Federal Home Loan Mortgage Corporation 2000,000 1tW'. N/A 09/20/12 0920117 1220/16 294 100% 2.000,0W 2,OW320 Union Bed 2,001,920
Federal National Mortgage A.mcation 500,Ooc 1395% N/A 03/30116 03/3021 12130,116 1,581 1.3950% 500,000 492.435 Union Bank 4Yi,830
Federal Home Loan Bank I,O00,W0 ISM. N/A 09/12/16 10/12121 Ol/1912 1,922 1.M 1000,O1K, 979.420 Unen Bank 0
Federal National Mortgtga Association 11ID0,000 1125% N/A 07(17/16 0227141 0127/17 1,700 1125% 1,000,000 982,720 Union➢ar, 997920
Federal Home Loan Bank 1,000,000 10 / N/A W,29/16 04,28/21 01128/17 1610 100% 998500 989,820 Union Bonk 999.670
Federal Home Lean Mortgage Corporation 1,004000 1.55% WA 10!11/16 11/10/21 02110i19 1,806 1.55% 10W,OW 925,51)() Union Bank 0
Federal Home Loan Morlgage Corpomlion IIIW,OW 100% WA 10,20/16 11115,19 02/15/17 1030 1.00% I,OW,000 991,I30 Union Bank 0
Federal Homa Loan Morlgage Coryorelion 10c0,W0 1.25% WA 02/19/16 081160i 02/16/17 I,720 I25% I,WO,OW 985,120 union Bank 999,780
Federal Home Loan Mortgage Corporation I,OW,WC IWrA N/A 19/17/16 11/30,21 02/18/17 1,826 150% LWO,OW 984,900 Union Bank 0
Federal Home Loan Bank 50 ,mo 125% N/A 08/W116 08/22/19 022247 W5 1.25% 500,0W 494,610 Union Bank 499,770
Federal National Nfortpgc Association l',xxtk000 113% N/A 08,03!16 11/2420 02124/17 1455 1.13% 1,000.003 971,610 Union Bank 996,510
Federal Nmional Mortgage Association LW0,000 120"o, NA 08/03A6 0212420 02'24/19 Ilia] L20% LWI1,000 986,100 Union Bank I,OW,010
Federal National Mortgage Association IOW,000 100% MA 09/03/16 O8/2421 0224/17 1,728 I,o0°o I,We,000 990390 Union Bank 998,620
Federal Home Lean Mortgage Coryomtion I,W0,000 100% N/A 08108/16 09,,2421 01124/17 1,728 1.00% LWO,OW 991,120 Union Bank 998,910
record Notional Mortgage Association 500,O0) 1.25% NIA O809/16 OL24/20 02/24/19 1,181 125% 500,W0 493,605 Union Bank 499,355
Federal National Mortgage Association 50U,DW 1.5D% N/A 02/2446 I1/24/20 OV24/17 1,455 1.30/0 500,Wo 497,825 Union Bank 501,125
Federal Notmaml Mortgage Aisoemom. 500,000 1.M04 N/A 03/10/16 03/1021 03,10117 1,561 100% 500,000 499,130 Union Bank 500,155
Federal Home Loan Mortgage Corporation I,oW,WO 1.50'/e N/A 09/12/16 09,30/21 03/30117 1765 1.50% L000,O00 WO.970 Unbn Bank 1.001,920
.oc,,
12/20,2016
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TREASURER'S MONTHLY REPORT
DETAIL OF 1NVESTMEN FS
November 30,2016
Par Cantos Purchase b(atunty Fira6Nea10pnonal Days Yield Adjusted Category (memo only) prior or,
Value Rate lGan¢ Dale Dare Call Daa ram tom Cost Bass Trial Market Valuu Source Market Value
Short Term Invesanarm(Continued)
(1 year or least
U.S.Gov't Agency Securities(Continued)
Federal Home Loan Mortgage Corporation 1,0W,W0 IAO% N/A 0929/16 1027121 04/27,17 1,292 IA096 I,poLOW 978,410 Union Hank 0
Federal Home Loan Mortgage Corporation 10W,W0 1.13% N/A 10,12/16 102821 041MP 1793 113% 1,000.000 987,990 Union Bank 0
Federal Home Loan Mortgage Corporation I,oWIBID 105% N/A IOA2/16 10,'2821 04/28/17 1793 1.05% IOOO,OW 985,360 Union Bank 0
Fodoml Home Loan Hank 1000,000 1.25% WA 10/24/16 II/0821 05/08/17 I80i 125% I,W.Ow 986,310 Uamu Bank 0
Federal Home loan Bank IOso,OW 1.25% WA 10,13116 II/10/21 05/10/12 1'" 1,25% I,000,00o 985,490 Union Bank 0
Federal Home Coca Mortgage Corporation 1000,000 LID°n N/A 1o2S/16 05/15/19 05/1517 8% 1 Hy) 100AMID 1,M3,500 Union Bank 0
Federal Home Loan Bank 1000,000 105% WA 1025/16 11/15/21 05/15/17 1811 1Os1k I,W0,000 M,990 Union Bank 0
Federal Home Loan Bonk I,OOQ000 1.00% WA 10/20/16 1111620 05/16/17 1449 100% 1000,0W 987,010 Union Bank 0
Federal Home LoanBook I,cor,mm 1.25% WA 10/18/16 11/1921 05117Q7 1,813 1.25% 1WO,D00 983,590 union Bank 0
Federal time Loan Mortgage Corporalion 1000,000 13D°o N/A 10,24,116 11/2221 05/22/17 1,818 130°e 1000,000 988,800 Lnion➢ank 0
Federal Farm Credit Bank 5000mm 0.625% N/A 05/22/15 05/22/1/ N/A 173 0.625% 500,000 499.865 Union Bank 499,425
Federal Home Loan Bank I,0W,000 1.30°ra N/A 10/26/16 11/23/21 05/23/17 1819 130% 100,D00 985,330 Union Bank 0
Federal time Loan Bank 1000,000 155% N/A 11,0216 11126/21 05/26/17 1,822 1.55% 1,000,D00 989,710 ❑nionBank 0
Foleal Farm Credit Bank 1000,000 13Ms N/A O6/O616 06/06/19 06/06/17 918 130°.6 1W11,DW 9%,520 Union➢ank 1,001,740
Fedeml Farm Credit Bank 1000,000 1129/a N/A 06/20/16 06/27R9 ON37/17 939 1.12% 1,000,000 988.110 Union Bank 1000,100
Federal National Mortgage Association I,W0,000 1.10% N/A 0620/16 06,'28/19 O6/28/19 940 1M. 1WO,OW 988,690 Union Bank 998,WO
Federal Farm Credit Bank 500,000 1mJ% N/A OB/04/16 o8/I549 08/15/17 988 1.080 500,000 493,010 13nion➢ank 499,400
Fudeml National Mongegu Association 1,000,000 1.10% N/A 08/03/16 08/23/19 0823/17 996 1.1 09a 1000,000 986,650 Union Bank 999,870
Federal National Mortgage Association I,W0,000 1.40°o N/A 08,03/16 08/25/21 0825717 1,729 14(gaa 1,000,000 970,700 Union Bank 1,000,120
Federal National Mongge Association 2,000,000 125o N/A 08/04/I6 08/28,20 0828/17 1,369 125% 2,WO,OW 1949,140 Union Bank 1999,180
Federal Farm Credit Bank 1000,000 1.12% N/A 10/19,16 10/11/19 10/11/17 1045 1.12o 999.250 987,650 Union Bank 0
Federal Notional Mortgage Association I,W0,000 1.17% WA 10,25,16 11/15/19 11/15/17 1080 11. 998.750 986,200 Union Bank 0
Federal Home Loan Bank 100000 1O(Bv N/A ID26/16 11/17/11 IIA1/17 1,813 1,00°o I,OKOOD 991,360 Union Bank 0
Federal Home Loan Mortgage Corporation 1,000,000 Ito% N/A IIA)V16 11/29/19 1129/17 1,094 120sa 1,000,000 987,010 Union Bank D
52,000,W1l 51994000 51351945 37,48%200
Ttmu Dcposa,
Goldman Saohs Bank CD 200,000 1.8056 N/A 9/25/12 W25/19 N/A 237 18(58 198,600 201,432 Union Bank 200802
Discover Bank CD 200,00 17(Pa MA 726/12 926/f7 N/A 238 190ss 2MOOO 201,554 IlnionBank ?W,640
400000 398600 403.036 402442
Nlediam Tem,Invastmen6
(1 year to 3 years)
U S.Gov't Agency Securities
Federal National Mortgage Aromation 2,000,000 110% N/A 03/12/13 03112118 03/12/18 467 1,ID% 2,000,00o 1998,720 Union Bank 2,007,380
Financing Corporallon(kiCO) 50o,OW 9.80% N/A 04/0688 04/06/18 WA 492 9.90% 498,594 564,031 Bank of America 558,509
Federal Farm Credit Bank 500,000 1.03% N/A 0224,116 02112,19 N/A 804 103% 499,830 497,155 Union Bank 500,885
3,000,000 2,998,444 3,059,9n5 3,066,994
Taal Invested Cash S 126.448,406 5 12;943,216 8 127,362,95D $ 133,021,142
.,
1220,2016
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
November 30, 2016
Yield Adjusted
Par Value Coupon Racine Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 127,943,216 $ 127,943,216
$ 127,943,216
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency-Bank of America 1,973,993 N/A N/A open None 1,973,993
Downpayment Assistance(Housing Fund) 33,972 0.20% N/A open 0.20% 33,972
-Bank of America
Workers Compensation-Bank of America -9,068 N/A N/A open None -9,068
General Liability-Bank of America 24,548 N/A N/A open None 24,548
1930's General Store Museum-Bank of America 11,530 N/A N/A open None 11,530
On-Line Credit Card Fire inspection Fees 152,970 N/A N/A open None 152,970
-Bank of America
On-Line Credit Card Transportation Permits 11,023 N/A N/A open None 11,023 2,202,918
-Bank of America
Total Cash Deposited $ 130,146,134
treasrep
12/20/2016
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�.t
TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
November 30, 2016
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
ydu& Rate Ratkny Maturity to Maturity Cost Busis Total Market Value Source Market Value
1998 Airport PFC
Invesco Government&Agency Private 2,358,352 variable AAA open 0,01% 2,358,352 2,358,352 US Bank 1,134,969
2,358,352
2006 Airport PFC
Invesco Government&Agency Private 1,473,939 variable AAA open 0.01% 1,473,839 1,473,839 US Bank 1,241,900
1,473,839
2007 Refunding Lease Revenue Bonds
First American Government Obligation 0 variable AAA open 0 01% 0 0 US Bank 259,969
0
2007A&B Tax Allocation Bonds
First American Government Obligation 30 variable AAA open 0.01% 30 30 US Bank 30
30
2007C Tax Allocation Bonds
First Americun Government Obligation 19 variable AAA open 0.01% 19 19 US Bank 19
19
2008 Airport PFC Refunding
Invesco Government&Agency Private 601,5t6 variable AAA open 0.01% 601,516 601,516 US Bank 601,382
60L516
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 4,092,919 variable AAA open 0.01% 4,092,919 4,092,919 US Bank 3,193,818
1092,919
veaerep
12/10/1016
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co
TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
November 30, 2016
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Higittg Maw to Maturity Cost Basis Total Market Value Source Market Value
2012/2014 Convention Center
First American Government Obligation 12,676 variable AAA open 0.01% 12,676 12,676 US Bank 12,672
12,676
2014 Merged Project t&2fl1ousing 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 274,335 variable AAA open 0 01% 274,335 274,335 US Bank 274,333
274,335
2015 Local Measure A Sales Tax
First American Government Obligation 1,209,588 variable AAA open O.OI% 1,209,588 L209,588 US Bank 1,112,744
1,209,588
2015 Refunding Lease Revenue Bonds
First American Government Obligation 0 variable AAA open 0.01% 0 0 US Bank 3,604
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 378,493 N/A N/A demand None 378,493 378,493 Century Golf 325,812
378,493
Totals 11.118,651 [1,118,651 $ 8,878,133
ucaxcp
12/20/2016
TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
November 30, 2016
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.66%
1 year to 3 years N/A 50.00% 2.34%
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% 0.31%
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% 24.74%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 0.00%
LAW N/A 100.00% 26.45%
U.S. Government Agencies N/A 60.00% 42.98%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
treasrep
F- 12/20/2016
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