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C'04/FOR��P* City Council Staff Report
DATE: November 2, 2016 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
SEPTEMBER 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 September 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
$132,910,433 plus $8,878,133 bond issue capital projects, reserve and debt
service funds. There is an additional $2,203,330 in various miscellaneous/trust
accounts. The market value of the invested cash is $133,031 ,277.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of September 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.
ITEM NO. 1Qj
City Council Staff Report
November 2, 2016— Page 2
Treasurer's Investment Report as of September 30, 2016
The weighted average maturity (WAM) of the portfolio is 375.02 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. Kiehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTULY REPORT
SUMMARY OF INVESTMENTS
September 30, 2016
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 6,637,497
CalTrust ShortTernt 42,605,181
CalTrust MidTerm 0
State Pool 42,774,711 $ 92,017,389 6923%
Short Term Investm
(1 year or less) ents
U.S. Gov't Agencies 37,496,000
Time Deposits 398,600 37,894,600 28.51%
Medium Term Inves
(I year to 3 ears) tments
U.S. Gov't Agencies 2,998,444
2,998,444 2.26%
Long Term Investments
(3 year to 5 ears)
0 0 0.00%
$ 132,910,433 100,00%
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10/17/2016
Total Investment Allocation As of
$132,910,433
0.3% 09/30/2016
City of Palm Springs
32.2%
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- State Pool (LAIF)
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30.5% /
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m CalTrust ShortTerm
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U.S. Gov't Agencies
!:-- Time Deposits
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
September 30,2016
Par Coupon Purdase Mamrttp F...6Wc.,Optional Days Yield Adluamd Category (memo only) Prior On_
Value Fcrov Raline Date Date Call Data w� m� Cost Baars 'final Mallet Value Source Markel Value
On Call Depnsi¢
Checking Bank cf America S 6,637,497 N/A AAA demand N/A I None 6,637,497 S 0637,497 Bank of Ameica 5,168.630
CalTrust ShonTerm 41,500,WO .,;able N/A demand NIA 1 0.81% 42.605,191 42,625546 Carl fmst 44,558,159
C.ITtual MoHerm 0 variable N/A demand N/A 1 0.W% 0 0 Caftmsl 4,985,057
Local Agency Invest Ford(IAD) 41500,W0 variable NA demand NIA 1 063% 42,774,711 42,801=84 LAIF 49,725450
W,637,499 92,017,399 92,06,327 104,837.296
Short Term LnvestmmB
1 I year or less)
U.S.Gov't Ageny Securities
Federal National Mongago Assemarion 0 1125% N/A 0520/15 08/18216 08/18/16 - 1 I^_59e 0 0 Bankof NYMelloa 5W.080
Federal Home Loan Bank SW,WO 148% N/A 03/01/16 03/02/20 09/02/16 1249 148% 500,OW 5W015 Bankol'NY Mellon 5W,190
Federal Home Loan Back 0 190°o N/A O3/02/16 03/02/21 09,0116 - 170% 0 0 Bank OfM Mellon 5W,250
Federal Farm Credit Bank 500,W0 165% N/A 05/(4/16 11/OL20 09/U4/I6 1,4% 165% SOII,IIW 500,010 Bank orNY Mellon 5W,160
Federal Rome loan Mortgage Coryom00n 1,000W0 1.25% N/A 06/09/16 06/W21 09/09/16 L913 125% 1,000,000 1,000,080 Bank of NY Mellon IOW,240
Federal Home Loan Bank 1000,00t) 125% N/A 06/16116 06/16121 09/16/16 1,920 125% 998,5W 10W,030 Bank arNY Mallon 1 W0,180
Federal Home Loan Mortgage Corpora[ion 2,000,W0 1.00°o NIA 0920/12 09/20,117 09/20/16 355 I.00% 2,Wf1,C00 =001920 Bank of6YMelloo 2,W3,980
Federal National Ni.111e Al,ecration S0000 1375% N/A 03/30/16 OV3021 09130/16 1642 1.375Wa 500,0W 499,830 Bankof NY Mellon 500035
Federal Home Loan Moo,,,Carpam,ion 0 1Sd'/e N/A 03/30/I6 03/3021 09/30/16 - 1.50% 0 0 Bank of NY Mellon SW,435
Federal Home Loan Mortgage Corporation 0 1.Wo. NIA 03/30/16 03/30/21 09130,116 - 1.60't 0 0 Bank or NY Mellon 5W .405
f idcnl Home Loan Moripge Corporation SO wo 15003,6 N/A 04/21116 0421/21 1D21116 1664 ISMO 500,0W 50,045 Ballof NY Mellon 500,395
Federal Home Loan Bank I,0(IQ000 100% N/A 04/29I16 OM_8,21 1028116 1.691 1.001. 998,5W 9W,690 Bank ofNY Mallon LW0,050
Federal National Mortgage Association 4,WO,OW 1.0% N/A 01,30/13 01/30/I8 10/30/16 489 1.03% LWO,0,00 3,998,320 Bank Of NY Mellon gW0,280
Federal Farm Credit Bonk 50.,OW 1.53% N/A 05/17/16 02,17/11 11/17/16 1601 158% 500,0W 493,815 Bank of NY Mellon 500.015
Federal Natural Nlortg.ge Associaion 2,000,OW 1.03% N/A 0521113 05/21/18 112L96 598 1.03% 2,WO,000 2,WQ180 Bank of NY Mellon 2,W0480
Federal I[.me Loan Mortgage Corpotion SOO,OW 1.301. N/A 08/09/16 0823/39 3123.t16 1,057 1.30°a 500,000 500,120 Bank Of NY Mellon 0
Federal National Nlungege Aseoclalm. I,WO,CW 1.50it N/A 05125116 0525221 1125116 1699 151W6 I0(t LOW,120 Bard,of NY Mellon LW0,260
Federal Farm Credit Bank 50gOW 125% N/A 05/25/16 05/25/21 1125/16 1,698 125°% 500,OW 5W.125 Bank of NY Mellon 100,475
Federal National Mortgage Association 500,0W 1.25% N/A 0525/16 05,2521 1125/16 1698 125% 501 50K).100 Bahr or IN Mellon 500,430
Federal Farm Credit Bank 500,OW 1.125% N/A 05/27/15 0527/21 1125/16 1)W 1.125% 499W0 499,995 Bank of NY Mellon 500,140
Federal Home Loan N<ongage Corporation =WO,OW 1.50,a N/A 07/1816 08/25/21 1125116 1,7W 1.50,n 2,WO,Wo 1,995,920 Bank of NY Mallon 0
Federal Nan...I Marugege Associ.11on 500,Oto 1125% N/A 02/26/16 022621 112N16 1610 1.125% 500,000 499,935 Bank of NY Mellon 504055
Federal National Nlungage As-socla0cn 500,0W IDO% N/A 02/2fiari 02,26/21 11%2NI6 1610 100°0 500,0W SW,120 BmJafNY Mellon 500,195
Federal National Nonage Association 500,ow 140% NIA 02/2646 11/26/19 1126116 1,152 1.40% 500,00(t 500,170 BaN of NY Mellon 500250
Federal Home Loan Mongogc Corporation 500,0W 1.2,% N/A 02/26/16 02,126/21 1126,116 1,610 1.25% 500,OW 5W120 Bank aFNY Mellon 500,180
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TREASURER'S MON77ILY REPORT
DETAIL OF INVES'PMENTS
September 30,2016
Per Coupon Purchase Maturity FirshN"exi Optional Days Yield Adjusted Calesory (nierro 0111,) Prior Orr.
Value Rate Aa'ne DER Pil€ Callfra 193Mturn toMatufily Cost 'lowd Market Vito Source MarkeValue
Shnn Term lovestn col,(Contlnned)
(I veer or less)
D.S.Croup Agency Securities(Continued)
Federnl National MOngage Association 1,000,000 1.125% NA 07/27A6 071721 0127117 1,761 1.121% 1,000,000 997,970 Bank of NY Mellon 0
Federal Home Loan Mongage Cotpora0on 1000,000 125% N/A 07,19116 09,16fE1 02d 6117 1.781 125% 1,000,000 999,790 Bank of NY Mellon 0
Federal National Mortgage Assmieroo 1,000000 1.13% N/A 08N3q6 IIi2420 0224117 1,516 1.13% 1,000,000 996,510 Bak of NY Mellon 0
federal Nalional Momgoge Association 1,000000 1.20°/ NIA W03/16 0224120 02,24117 1242 1.2(C0 1000,000 1,000,010 Bonk of NYMell.n 0
Federal Nalional MOngage Assvaslmn 1,000000 IW9h N/A 0803,16 082421 0224/17 1.789 1W/e 1,000,000 998620 Bank of NY Mellon 0
Federal Hotra Loan Mongage Cotpomtion 1,000000 100% NIA 0808/16 092421 0224117 1789 100% I,000,000 998,910 Bard,of NY Mellon 0
Federal Nalional Mongage Ass oci.Uon 5wrtoo 125% NIA 0809116 02,24,20 0224112 1242 125% 500,000 499,355 Bank of NY Mallon 0
Pedend Home Loan Book 5W,000 125% N/A 08/09,16 K22/19 0222/17 1,056 125% 500,000 499,770 Bak of NY Mellon 0
Federal National Mongage Associaion 500,000 1.50°o NIA 0124/16 11,2400 0224117 1516 1.5b8o 500,000 501,125 Bwk of NY Mellon 502,185
Federal National Mortgage A.nvciorion 500000 100"/o N/A 03A0/I6 03/I0,2I 03/10/17 1.622 1.wll 500,000 500,155 Bank of NY Mellon 500,735
Federal Home Loan MoneaBe C.r,ohon 1,000,000 1.50% N/A 09/12,16 09/3021 03/30,'17 1826 two 1.000,000 1001,920 Bank cf NY Mellon 0
Federal Farm Credit Bwk 500000 0625% N/A 05!11115 052Y17 N/A 234 0.625% 500,000 499,421 Bark of NY Mellon 500075
Federal Par.Credit Bmik 1,000000 130% N/A 0606/16 06/06/19 06,,06/17 979 1Mlo 1,000,000 1,001,740 Bank of NYMelloo 1,003.540
Federal F.Credit Bank I'M," 1,12% N/A %,120/16 W27ni) 11f,77/17 I111111 112% 1000." 1,000,100 Brink of NY Mallon 1,001240
Federal Natiwral Mangagc Asa0ciolian Um'" 110% N,,A 0620,16 0Ei2849 06f28/17 1,001 1.10% 1,000,000 99800 Buik of NY Mellon II10118W
Federal Fwm Credit Bwk 500000 1.09% N/A 08/04/16 08/15119 (11345117 1,049 108% 500 0111) 499,400 Bank of NY Mellon 0
Fecleral N.I.,d MOngage Aswomlmn 1,000.000 I.IV,o NIA 08/03/I6 ols Y19 0823/17 1057 1.101/ 1,000,000 999,970 Bonk of NY MrLon 0
F,oierd National Mongage Assod.ion 1000,000 l40% N/A 0003/16 09,25,21 0825117 1,790 I40oo 1,000,000 L000120 Bank of NY Mcllon 0
Federd Nalional Morl8a8e Ass9ciation 2,(,Wo0 125, NIA 08/(14/16 08/28/20 09,28117 1,428 1250 2,000.000 1,999,180 Bank of N'Mallon 0
37,500000 37,496,000 37,489,200 14,517,735
Tmie Deposna
Gold.Sachs➢ark CD 200,000 1.80% N'A 7125/12 7/25/17 N/A 298 1.8W, 198,600 200802 Bank of NY Mellon 202,153
Duc9ver Bade CD 2KOW 170% NIA 72N12 7,126,17 N/A 299 17M 200.000 200,640 Bank of NY Mellon 202_265
400,W0 398,600 401,L42 404,418
Medium Terminveslmmts
f 1 year 10 3 veers)
GS Gout Agenry Securities
Federd National Mongage Association 2,000.OoO 110% N/A 03A2113 03,12aS 0/12118 528 I lmo 2000000 2,007,380 Bank of NY Mellon 2,017,360
Finalcmg Carpor...ilFlCD) 500000 930% NIA N/06/88 04/06/I8 N/A 553 9.80% 499.594 568,044 Bwk of America 590,015
Fecierd Fwm Credit Biotic 500,000 L03% N'A 02/24/16 02/12,19 NIA 865 103% 499.850 500,885 Bark of NY Mellon 501720
1000000 2,993,444 3,076,309 3,100,095
'1'coal 1nvv'stcd Cash S 111517,497 S 132910433 S 133031,277 S 132859,544
Current Quarter Portfolio Yield 0.86% 019%
Bnu'hmark Yiclds. Prior Q..,
12 Month LA1F Averaga 0.470o VOnf01i0 Yield
2 Year Cumtan Maluoty Trc-UF1 0J' .
'lice,hw9nne for the Q.,I,r Bndmg 09130,12016 193,131
-c oes annwl be6re dedocnon of invcaman reload fees
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10,17,2016
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
September 30, 2016
Yield Adjusted
Par Value Coupon Racine Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 132,910,433 $ 132,910,433
$ 132,910,433
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency-Bank of America 1,991,662 N/A N/A open None 1,991,662
Downpayment Assistance(Housing Fund) 33,961 0.20% N/A open 020% 33,961
-Bank of America
Workers Compensation-Bank of America 3,491 N/A N/A open None 3,491
General Liability-Bank of America 29,352 N/A N/A open None 29,352
1930's General Store Museum-Bank of America 12,335 N/A N/A open None 12,335
On-Line Credit Card Fire Inspection Fees 118,193 N/A N/A open None 118,193
-Bank of America
On-Line Credit Card Transportation Permits 10,385 N/A N/A open None 10,385 2,203,330
-Bank of America
Total Cash Deposited $ 135,113,762
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10/17/2016
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
September 30, 2016
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Raton e Maw to Maturity Cost Basis Total Market Value Source Markel Value
1998 Airport PFC
Invesco Government&Agency Private 1,134,969 variable AAA open 0.01". 1,134,969 1,134,969 Bank of NY Mellon 2,253,410
1,134,969
2006 Airport PFC
Invesco Government&Agency Private 1,24]900 variable AAA open 0.01% 1241,900 1_41,900 Bank of NY Mellon 2,444,427
1,241,900
2007 Refunding Lease Revenue Bonds
First American Government Obligation 259,969 variable AAA open 0.01% 259,969 259,969 US Bank 0
159,969
2007A&B Tax Allocation Bonds
First American Govemment Obligation 30 variable AAA open 0.01% 30 30 US Bank 368,284
30
2007C Tax Allocation Bonds
First American Government Obligation 19 variable AAA open 0.01% 19 19 US Bank 340,892
19
2008 Airpon PFC Refunding
Invesco Government&Agency Private 601,382 variable AAA open 0.01% 601,382 601,382 Bank of NY Mellon 609,921
601,382
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,193,818 variable AAA open 0.01-1. 3,193,818 3,193,818 Bank of NV Mellon 3,192,921
3,193,818
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
September 30, 2016
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate RatZ�im, Maw to Maturity Cost Basis Total Markel Value Source Market Value
2012/2014 Convention Center
First American Government Obligation 12,672 variable AAA open 001% 12,672 t2,672 US Bank 12,672
12,672
2014 Merged Project I &2/Housing Refunding
First American Government Obligation 6 variable AAA open 0.01% 6 6 US Bank 470,017
6
2015 Reassesment District No 2015-1
First American Government Obligation 274,333 variable AAA open 0 01% 274,333 274,333 US Bank 274,338
274,333
2015 Local Measure A Sales Tax
First American Government Obligation 1,112,744 variable AAA open 0.01% 1,112744 1,112,744 US Bank 1,940,412
1,112,744 !I
2015 Refunding Lease Revenue Bonds
First American Government Obligation 3,604 variable AAA open 0.01% 3,604 3,604 US Bank 3,604
3,604 '..
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 325,812 N/A N/A demand None 325,812 325,812 CenturyGolf 1,172,635
325,812
Totals 8,978,133 8,978.133 $ 13,700,410
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
September 30, 2016
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.74%
1 year to 3 years N/A 50.00% 2.26%
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% 0.30%
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% 32.06%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 0.00%
LAW N/A 100.00% 32.18%
U.S. Government Agencies N/A 60.00% 30.47%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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