HomeMy WebLinkAbout12/7/2016 - STAFF REPORTS - 1.B. °,?ALM Spy
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City Council Staff Report
DATE: December 7, 2016 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
OCTOBER 31, 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 October 31, 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
$128,124,742 plus $12,460,326 bond issue capital projects, reserve and debt
service funds. There is an additional $2,206,323 in various miscellaneous/trust
accounts. The market value of the invested cash is $128,137,322.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of October 31, 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.
ITEM NO. �
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City Council Staff Report
December 7, 2016— Page 2
Treasurer's Investment Report as of October 31 , 2016
The weighted average maturity (WAM) of the portfolio is 413.19 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 a'S. Kiehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
October 31, 2016
On Call Deposits Adjusted Basis Cale¢ory Total Percentaee
Checking Account $ 5,248,914
CalTrust ShortTeml 42,633,164
Union Bank 5,000
State Pool 39,845,370 $ 87,732,448 68.47%
Short Term Investments
(I year or less)
U.S.Gov't Agencies 36,995,250
Time Deposits 398,600 37,393,850 29.19%
Medium Term Investments
(1 year to 3 ears)
U.S. Gov't Agencies 2,998,444
2,998,444 2.34%
Long Term Investments
(3 year to 5 years)
0 0 0.00%
$ 128,124,742 100.00%
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Total Investment Allocation
$128,124,742 City of Palm Springs As of 10/31/2016
■ 0.3% 4.1%
Z Checking Account
31.1% u CalTrust ShortTerm
U 33.3%
III U.S. Gov't Agencies
1 N State Pool
■ Time Deposits
*.004% - Union Bank
III 31.2%
0
'I REASURF,R'S MONTHLY REPORT
DETA[L OF INVESTMENTS
October 31,2016
Far Coupon Purchase Nam"N rirsvNext optional ➢an Yield Adipsted calegu, mourn marl Frio,Q.
Value Big Rating ➢ate Dace Call Date t.Mirtint to Ntfyyn Fatal Mutter Value S...c NHrket Value
On Call➢epualta
Checking-Bank of America b 5,248,914 N/A AAA demand N/A 1 None 5,248,914 5 5248914 Bank of America 6,637,497
Ca14mt ShortTum 415W,000 variable N/A demand N/A 1 0.87% 42.633,164 43653,529 Co1Tmn, 42,623.546
Union Bank 5,000 WA N/A demand N/A 1 None 5,W(l 5,W0 Union Bank 0
Local Agency Invent Fund LAIF) 3950,1000 r4,lable WA demand N/A 1 0.6549. 39,845,370 39,851,564 LMF 42,801284
86,253,914 87,732,448 87,765M7 92�06g327
Short Term Invesnnents
(Ives,or less)
U.S.GeV,Agency Secumiea
Federal Home Loan Yank 0 14aa N/A 03/02/16 03/02/20 1NOb16 - 148% 0 0 Bank of New York 51%1,015
Federal Farm Credit Bank 0 1.65% N/A 05/04/16 1IAWID ID/Ib/16 - 165% 0 0 Bankof New York 500,010
Federal Home Loan Mortgage Cmpomtion 0 1 5M1 N/A W,21/16 0421/11 10 IU, - 1.501n 0 0 Union Bank 500,WS
Federal Home Loan➢ank 1,000,000 IWf. N/A 04/29/16 04/28/21 1028/16 Unno 10m� 998,500 998,960 Union Bank 999,690
Federal National Mart6age A meumm 0 103% N/A 01/30/13 01/3018 10,30116 - 103% D 0 Union Bank Lm,320
Federal Farm Credit Bank 500,0W 1.58% N/A 05/17/16 02/17/21 11/1116 1,570 158% 500,000 4%,610 Union Bank 499,81,
Federal National Mortgage A .earma =OW,OW L03% N/A 05/21/13 05/21/18 1121./16 569 1.03% 2,0e0,000 1,993,680 Union Bank 2,W4180
Federal Home Loan Moripgo Corporation 500'mm 1.30% N/A 08/09/16 08,23119 1U23/16 1,026 13(fib 500,W0 5W,020 Un.Bank 500,120
Federal National Mortgage Associaton IDMMM 1.50% MA 05.^_5/16 05/25121 1125/16 1,667 1.504I. 1,000,000 998,440 Union Bank Ip00,120
Federal Farm Credit Bank 5W,OW 1.25% N/A 05/25/16 05/25/21 1125116 1,669 125% 500,W0 499.660 Union Bank 500125
Federal National Manage Asmesmm 500.0W 1.25% N/A 05/25/16 05,25/21 11,75116 1,667 125% 500,W0 499,835 Union Bank 500.100
Federal Farm Credit Bank 500,000 1125% N/A 0529/15 05/2921 1125/16 1,669 1.125% 499,000 49Q165 Union Bank 499,W5 -
FederalHomeLoa.NI.im,r,eCorpormion 2,000,090 1.50% N/A 07/18/16 08,2521 11/25/16 1,759 1.10% I000,W0 1985,560 Union Bank 1995,920
Federal National Mortgage Association 500,000 1.125% N/A 0226116 02,26,121 1U2N16 1,579 1.125% 5fro'" 499,680 Union➢ank 499.935
Federal National Moripge Asomanon 500,OW 100% N/A 01126/16 02/2621 112N16 1,579 10V/1 500,W0 499,990 Union Bank 500,120
Federal Nauoml Mortgage A..n.io, 500,000 150% N/A OD26/16 11,26/19 11/26/I6 1,121 140% 5e0,W0 5W,045 Union Bank 500120
Federal Home Loan Manage Corporation 500,000 L25% N/A 0226116 02/26/21 11/2N16 1,579 1.25% SOO,WtI 499,665 Union Bank 500.120
Federal Home Loan Mortgage Corporation 1,000M. 125% N/A 06/09/16 06/09/21 12N9/16 1682 125% 1,00000 9W,350 Union Bank 1,000,080
Federal Home Loan Bank 1,000,W0 125% N/A 061616 06d,5121 1216/16 1,689 125% 998.500 997,710 Union Bank 10011030
Federal Home Loan Mortgage Corporation 2,000,000 1.00% WA 0120112 09,20/17 12,20/16 324 100% 2,000,W0 2.001,180 Union Bank 2,001,920
Federal National M.rlgage Assoentrant 500,000 1375% N/A 03/30/16 03/3021 12/30/16 1,611 13950% 500,W0 498,960 Union Bank 499,830
relim
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
October 31,2016
Par Coupon Purchase Simon, Fi,,rNex,Optional Days Yield Adjusted Category Imemo.nlyl Prior Qlr.
Yalu Role Foo. pate Dale Call Date 1 M rn mr� Coa war, Toul Intake,Value Sirvme x1tar"i value
Shun Term I.veatmenn(CominuW)
(I year 9r less)
U.S.Gov'I Agency Sccunol,(Continued)
Federal Home Loan Bank 10WOW 1.50% N/A 09/12,/16 1011221 0111!'17 1907 1.509° 1,000,000 W8,160 Union Hank 0
Federal Noommil Mongage Aenociauon I,0o0,000 1.125% N/A 07,27/16 OW29/21 U129/❑ 1,730 11259, 1000,000 995,200 Union Bonk 997,970
Fednol Home Loan Mongage Corporation IOW,WO 1.25% N/A 07/19,116 08/1 6/21 02116/17 1,750 125% 3000,0W 990,810 Union Bank 999,98U
Federal National Mongage Association IOW,000 1.130, N/A 08,03/16 11/24/20 0224/17 1485 1.13% 1,000,000 992,430 Union Hank 996,510
Federal National Monger Aasocimmn I,OW,WO 1.20°o N/A 08,03/16 02/24/20 0224/19 1,211 1.20% 1,000000 996,380 Union Bank l'onu10
Fednnl National Mongage Association 1,0W,W0 1.0W. N/A 08/03116 U8/24/21 0224/19 1,758 100Y° 3000,0011 999,390 Union Bank 998,620
Federal Home Loan Mongage Corporation I000two 10U% N/A 08/08/16 0824/21 02/24/17 11b8 ton/° 1000,000 997,730 Umon Bank 998,91D
Federal National Mongage Associs0on 500,000 125% N/A 08,091,16 0212420 0224,17 1211 125% 500,000 497,500 Union Bank 49 ,355
Federal Home Loan Bank 5W,000 1,25% N/A 08,09/16 09122/19 02122/17 1,U25 1.25% 5W,000 498,050 Union Bark 499,]]0
Federal National MorWge Association 5w,mm 1.5W. N/A 02/24/16 11124/20 0224k17 1485 1.50% Nro,m10 500,645 UnionBapk 501,125
Federal National Mongage Aaaociatlon 500,000 IU(F/° N/A 03/10/16 )3/10/21 03/10/17 1591 1()0% 50Q000 499,830 Como Runk 500,155
Federal Home Laan Mongnge Corporation 1000,UW 1.50% N/A 09/12/16 09/3021 03/30/19 1295 150% I,O ,000 1,000,990 Union Bank I,001,920
Federal Home Loan Mongage Corporal(,. I,W0,000 140°o WA OW29/16 10 701 04/£7/r/ 1,822 140% 1000,000 997.050 Union Bank 0
Federal Home Loan Mortgage Corporation I00,000 113% WA 10/12/16 I0128/21 04/28,t7 1323 1.13% IOW,oW W4,550 Union Bank 0
Federal Home Loan Mongage Cmpomm. I,W0,000 105% NIA 1DI12/16 10'28,2I 04/28A7 1823 105% I,OW,000 9W9260 Union Bank 0
Funeral Farm Credit Bank 500,UW 0625% N/A 05/22/15 05/22/17 N/A 103 0.625% 500,W0 A10,155 (lain.Bank 499,425
Federal Farm Credit Bank 1000,00r) 1.30% NIA 06I06,16 06/06/19 06/06A9 948 130°o I,OWOW 1,000, 6 Unlan Bonk 1001]40
Federal Farm Cmda Bank I000,000 LIP% WA 06/20,16 06/27R9 116/27/19 959 1.12% l'uou'DW 997,330 Union Bank 1W0,100
Federal Nnlional Mortgage Associaton 1,000,OW 1.10% NIA 06/20/16 06/28/19 06/28/17 990 1.10°0 1,000,0W 995,620 Union Bank 998,600
Federal Farm Credit Bank 500,0W 1.08% NIA 08/04/16 o8/I5i19 08/15/19 1018 108% 500,000 497,990 Union Bank 499,400
Federal Nwmmil hlonBage Association I,W0.0w 1.10% N/A 08I03/16 08I23/19 08123,17 1026 1_ID% I,WO,OW 996,680 Union Bank 999.870
Federal National Mongage Association I,000,DW 140% NIA 08103/16 08/2521 08/25/17 1,059 IAM, 100,0W 994,260 Union Bank 1,000,120
Federal National Mortgage Asawahon 2,000.000 125% N/A 08/04/16 08/2820 0828117 1,397 1.21% 1010,000 1,986.820 Union Bank 1999,190
Federal Farm Credit Bank 1,000,000 112% N/A 10'19/16 10/1F19 INI1,17 101 1.12% 999,250 997,990 Union Book 0
37,000,000 36,995,250 36,898,960 37,489200
Tvnc Bcyosils
Goldman Soon,Bank CD 200.000 1.80% NIA 7125/12 225/1) WA 269 1.80°/. 198,6W 201,741 ImmoBank 200,802
Dolow,Bank CD 200,000 190% NIA 712ti/12 926/10 N/A 268 17(P/. 200,0W 201822 UnionBank 200,640
400,000 398,600 403.564 401,442
Medium Term Investments
f 1 year 10 3 vean)
U S.Go,,Agency Securities
Federal National Mongage Aaaocmno. 2000,000 1.10% NIA 03/11/13 03/12/18 (GA2I18 497 1.1(°0 2,000")00 2,005,840 Union Bank 2,007380
hna.nng CDrpora unit(FICO) 500,000 98(A. N/A 04/00,88 03/06/18 NlA 522 9sw- 498,594 564,031 Bank of Amara 568044
Federal Farm Credit Bank 500No IA3% NIA 02/24,16 0211^_I19 WA 834 1.03% 499,850 499,920 Union Bank SW,885
3,000,000 1998,444 3,069,991 3076,309
coral lnvesred Cash S 126.653914 S 128124,942 $ 128.137,322 S 133,031.277
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
October 31, 2016
Yield Adjusted
Par Value Coupon &atine Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 128,124,742 $ 128,124,742
$ 128,124,742
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency-Bank of America 1,971,229 N/A N/A open None 1,971,229
Downpayment Assistance(Housing Fund) 33,967 0.20% N/A open 0.20% 33,967
-Bank of America
Workers Compensation-Bank of America 8,570 N/A N/A open None 8,570
General Liability-Bank of America 30,000 N/A N/A open None 30,000
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 136,351 N/A N/A open None 136,351
-Bank of America
On-Line Credit Card Transportation Permits 10,727 N/A N/A open None 10,727 2,206,323
-Bank of America
Total Cash Deposited $ 130,331,065
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11/23/2016
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
October 31,2016
Par Coupon Yield Adjusted Category (memo only) Prior Qv.
Value Rate Rujing Maturriv to Maturity Cost Basis Total Market Value Source Market Value
1998 Airport PFC
Invesco Government&Agency Private 1,169,240 variable AAA open 0or". 1,169,240 1,169,240 Bank ofNY Mellon 3,134,969
1,169,240
2006 Airport PFC
Invesco Government&Agency Private 1,357,977 variable AAA open 0,01% 1,357,977 1,357,977 Bank of NY Mellon 1,241,900
1,357,977
2007 Refunding Lease Revenue Bonds
First American Government Obligation 0 variable AAA open 0.01%a 0 0 US Bank 259,969
0
2007A&B Tar Allocation Bonds
First American Government Obligation 30 variable AAA open 0.01% 30 30 US Bank 30
30
2007C Tax Allocation Bonds
First American Government Obligation 19 variable AAA open 001% 19 19 US Bank 19
19
2008 Airport PFC Refunding
Invesco Government&Agency Private 601,446 variable AAA open 001% 601,446 601,446 Bank of NY Mellon 601,382
60[,446
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,194,159 variable AAA open 0.01% 3,194,159 3,194,159 Bankof NYMellon 3,193818
3,194,159
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE& RELATED FUNDS
October 31, 2016
Par Coupon Yield Adjusted Category (memo only) Prior our.
Value Rate Ravine Maturity to Maturity Cost Basis Total Market Value Source Market Value
1012/2014 Convention Center
First American Government Obligation 3,356,715 variable AAA open 0 0l3b 3,356,715 3,356,715 US Bunk 12,672
3,356,715
2014 Merged Project I&2/I1ousing Refunding
First American Government Obligation 6 variable AAA open 0.01°a 6 6 US Bank 6
6
201)Reassesnieni District No.2015-1
First American Government Obligation 274,335 variable AAA open 00140 274,335 274,335 US Bank 274,333
274,335
2015 Local Measure A Sales Tax
First American Government Obligation 1,112,751 variable AAA open 0.0k% 1..112.751 1,112,751 US Bank 1,112,744
1,112,751
2015 Refunding Lease Revenue Bonds
First American Government Obligation 357,041 variable AAA open 0.01°io 357.041 357,041 US Bank 3,604
357,041
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 319,732 N/A N/A demand None 319,732 319,732 Century Golf 325,812
319,732
Totals 12,460,326 L2,460,326 $ 8,878133
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11/23/2016
TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
October 31, 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 I Year N/A 50.00% 33.27%
Money Market Mutual Funds - More than I Year N/A 25.00% 0.00%
LAIF N/A 100.00% 31.10%
U.S. Government Agencies N/A 60.00% 31.21%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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11/23/2016
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