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Home My WebLink About10/5/2016 - STAFF REPORTS - 1.G.FQALM Sp ° V N 4 I C040.�FF�Fp', + Cq,IF O Ra�P Citv Council Staff Report DATE: October 5, 2016 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF AUGUST 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 August 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 $132,135,574 plus $11,870,397 bond issue capital projects, reserve and debt service funds. There is an additional $2,259,721 in various miscellaneous/trust accounts. The market value of the invested cash is $132,231,042. RECOMMENDATION: Receive and File Treasurer's Investment Report as of August 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. `(',I City Council Staff Report October 5, 2016— Page 2 Treasurer's Investment Report as of August 31, 2016 The weighted average maturity (WAM) of the portfolio is 391.32 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 MONTHLY REPORT SUMMARY OF INVESTMENTS August 31, 2016 10n Call Deposits I Adiusted Basis Cateeory Total Percentaee Checking Account $ 5,393,751 CalTrust ShortTerm 42,574,067 CalTrust MidTerm 0 State Pool 42,774,711 $ , 90,742,530 68.67% Short Term Investments (1 year or less) U.S. Gov't Agencies 37,996,000 Time Deposits 398,600 38,394,600 29.06% Medium Term Investments (I year to 3 years) U.S. Gov't Agencies 2,998,444 2,998,444 2 27% (Long Term Investments (3 year to 5 years) 0 0 0.00% $ 132,135,574 100.00% treasrep O 09/15/2016 W Total Investment Allocation $132,135,574 City of Palm Springs 0.3 31.0% 32.2% As of 08/31/2016 State Pool (LAIF) iii CalTrust ShortTerm ,:, U.S. Gov't Agencies Time Deposits TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS August 31, 2016 Par Cunpun Pweh°si. Num", 1,... UNatt Oynonal D., field Adluvad Care'ri, proon. on151 Prior Qtr N'alue Rnie Ratio Dale Dare Call Dare at Flauel> to Nuld"t, Cox Ba, Tow Market N aloe Source N1ed.et Naloa 10n Call Depends Cloo,km5-Bank of Amen, 5 t3a3,711 NA AAA demand NA I None 5393]51 6 5593J51 Bank of Amenca 5,568,o3li t al lrma soon l non JI WOWO smrahle N'A demand N'A 1 0I9°o 42,574,067 42594433 CalTrust 44518159 CalTrust N6dTerm 0 satiable NA demand N A I 1 04°0 0 0 Call ruse 4,965,a57 Local Agency lineal Food(L MF) 425011,001) ioriblo N/A demand NIA 1 0550° J_`Py]II 42,801'84 LA3F 4o725450 89393,711 90,742530 9U,789,408 104,837,290 Term imestmenu (short (I year 9r les>) If Gov't Alen S,mna Federal Narmad Mango, Amonati6n u 1 L5% 6/A U5:1_0, 15 U8/1816 Us, 1696 - 1 L'S°o 0 6 Bank of NY Mellon 5f11),080 Federal National Monpage Asmdiatimn 2,OW WO 103°o NIA 0521/13 U5C198 0821I6 628 1030o =000,000 :(mU,11N) Hank of NY Mellon 2,000,480 Fedeml Nauuml Nkilmye A,moritm. 1000,000 1100,. N'A 05^1,9n N/]PL 0812516 1128 ISW.° I.0.0w I,0W,060 Bank of NY Mellon 1,00,2w federal Nanoml M."llote Aaimualmn sagwo I121oo N'A U13696 U21'6111 U812616 1640 11250° 500,WO 499,695 Bank of NY Mellon 500,055 Federal Natmoal Martinis, Almoomon Swoon IW'° NIA 0216/16 02, 26121 U8:2NIo 1,610 Iovo 500,OW 5W 130 Bank offal Mellon 500.195 Federal National Mortgage Association MAO 140°o N'A 02C6116 11126,19 is 2e96 1182 1Plio 500,000 5W 201 Hand of NA Mellon 5W,250 Fi.deral Hmne Loan Mortgage Corporation "Awn 1250„ N.'A 022611, 0212o2I 08C416 FJ ,, 125°a 500,0W 5W,1_15 Bank of NY Mellon 5W,180 Federal Home Loan dank 5W,w0 IYB'° N'A UF0116 U3:02`0 U9/U2'Io L119 140° 500,UW 5W,005 Bdnk Of NY Mellon 500,190 Federal Hone Leon Bank 5W,W0 170°o NA 03102a6 0302,21 U9, 02/16 1644 17&° 500,000 SW 0115 Bankof NY Mellon ItiU'_sb Federal Farm Credit Bank AeIWO Iosoo N,'A 05,04:16 1111 20 09/0416 1126 16soo WOIIW 5WO15 Bank of NY Mellon 5W,lo0 Federal Hnmc loan Nlnnyngc C urpn. at IWU,,mn 125o° Mar Lb.'09'16 far U4CI U9IIF.96 I]A 125°° IWU,UW 9W,910 Bank of NYMellon LoW,246 Federal Home Loan Bank IUOU,Uw 1250° N/A 06/16/I6 U616C1 09/IUIo 1,750 1250o 996,50) 9K18U Bank of NY Mellon I003,180 Federal Home Leon Mortgage Corporation 2,000,000 100°,o NIA 020/12 U9120,17 119,20110 381 10000 =W0,W0 :000400 Hand of't Mellon =UU398U fedeial Nannnal Mortgage 4iiucnhun W Poo 13351.. N.'q 03.'30:16 0390121 09/3V.'16 1,12 1375Wo SWWU 4Y9,655 Bank ofNY Mellon 5W,035 Federal Home Leon Mortgage Corporation 500,000 15Wo NA 03.'30/10 0380.C1 0930116 1,672 1508 MOW 500.085 Bank ofN1 Mellon 5W,435 Federal Home Leon Mortgage Corporation 500,OW 160°,o N'A 0330, 16 03,30.21 099016 IbT_ 160°0 50(1,000 50) 075 Band of NN hlcllu i S11405 Fedeal Honor Login MunSaSe Culpuranun Sofl,ofht IS0°., NA 14.,214a 0421.2I 11121'16 leW 150a MOW 5W,U80 Bank ofNY Mellon 5W,395 Federal Hone Loan Bank IUOU,UUU IOW. N'A 01C9/16 94'6.^_I 10,2911. 1,701 1000:0 996,SW 999,230 Bank of NY Mellon IU110,1150 Federal National Morgage Association 4.000.OW IWil, N/A 013013 UII30118 10,30'Io 517 1030, 4,00O,o(O 1,99J n80 Bank of N) Modon 41111 1280 Federal Farm Credo Bank 1011.000 15800 .N.A 01,1716 0211 Z 21 1111716 1631 1580o SW OW 498925 Hank of NY Mc11nn 5WU15 Federal Home Loan Nlonyage Corporator 5000W 130°° N'A WPU9/16 u8^_J/19 11:2110 IU87 130° 5w,WU 49R110 Bank of NY Mellon 0 Federal Farm Credit Bank 500.0W I25°o N'A 0125; 1e 0512121 1125'16 1,728 12500 5w,UW SW 125 Bank of N1 Mellon 51nU475 Fedl.ral NaOnndl MOdgage A-,ritmn SW Ufr) 125°.. N'A 115:25/1e Oi,'_5.^_I IIC5'In 1728 125°0 5W,0W 5W,085 Bank Of NY N1e116n 5WJ30 Federal Farm Credo Band 500,110a) 11150o N'A 051^_7/15 0517,11 1125,ld 173U 1125°° 499,Wu 499,615 Bank ofNY Mellon 5W,140 Federal Home Loan Mongage Corporation 'UUU,UI0 I50o N/A 07 18,10 080521 1125110 1,820 1506 _WO,WO 1992,u20 Bank J`NY Mellon 0 U9/15 Mir TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS August 31, 2016 Par Coupon P... Lme Maunty Fn,N,,Opu.I Dan Yield Adjusted Category Irnemu only) Prior Qtr Value Rate Noun Bar Date Call Dare to M1tt� 10 b� Cast Basis Total Mad.m\afee Seure Minket Value SLon Icon imecpnenb(C nnunuedl 1 I a.r or I ... I US Gov't Agency Smrmas(Conunucdl Federal National Mort8e8e Association IW0,000 1125a. N,A 07/21/16 U9/'7Cl 01127F7 1791 1125av I000,000 ' 6,9w Bard.of NYMellon 0 Federal Home Loan Murlgage Culp-11on IW0,000 125.. NA 07119/10 0811n121 62,11e,l7 1,811 125a. Low,wo W8p10 Bank.f NYMellon 0 Fcdcral Nonnoal MOngage Ansoeianon IWQ000 113a6 N'A 08,03,'In H24n_0 02,24117 1,546 1131. I,Ow,WO W7,280 Bank of NY Mellon 0 Federal Nmmnal Manage Assomatmn I,OOo,000 1208. N,A 08,01/ID 02124^_o 02,2411E 1,272 120a. LOOO,rp0 998,070 Bank of NYMellon U Federal National Mortgage Assoaatmn IWo.Ow I",a Nlk 09,03116 0812421 0`,/24,L7 1,819 1OO,, _ IOOgWO W9,430 Bank of NY Mellon 0 Federal Home Loan MonepgeCorporalmo IWUow IUIN. NIA U8106/16 08/2421 02/24,17 1819 I Ta LU.Wo 998,200 Bank Uf NYMellon 0 FMcml National Mongage Association 500,Ow 125% NA 081C9.1I6 02/2420 02124117 1,212 125a. 5W,W0 498,415 Bank of NY Mellon 0 Federal Home Loan Bank 500,0w 1259. N,A Of (19110 08122d9 0222113 1,0M 125% 50QW0 499,110 Bank of NY Mellon 0 Federal Nan ... I Morll,ge Amuuation 500,ow 150a'. N1k 0224/16 11/2420 0224,17 L5J6 15fP. 9WlI00 5UI,245 ➢ank of NY Mellon 502185 Federal Nnuunal Mongage Asvonauon SOU,OW I009. Wk 03110,16 03/1021 OU1Oq7 I652 I We 5J0,000 500,035 Bank of NY Mellon 100.735 federal Farm Credit Bank 500,000 0625a. N1A 0112Z 15 05,22211E FLA 26J U625aa 500.00 499 W5 Hank of NY Mellon 500,075 Federal Farm Credit Bank IW0.0W 1311a. N,A 06,05116 060649 U&W17 Ipl9 I3P.. I'm"otu I01,48U Bank of NY Mellon ID035J0 Fudcial Farm C redo Bank IpnU,Uw I12a6 NIA 0620/lo W2711 O627,17 Ip10 112a. IW0.000 998,850 Bank of NY Mellon 100124u Federal Namnal Mongoge Ass0nation IOOU,Ow 1109. NIA on120!16 06.TH/I9 06/2817 1,031 IIT. IWO,Ow 997,070 Bank of NY Mallon IUUUNW Federal Farm Credit Bank Inn nW 108'. N1A U81W to 08/I5119 0&'15b17 1079 106'. 100,000 498,62U Bank of NY Mellon 0 Fudmal National Mongayc Aaumauon IpOU,WU IIOa. NA 08,03'16 08.2310 082VI7 1097 1IT., IWUOUu 99829U Bank of NY Mellon n Fcdeml National Mortgage Asannauon I oUUOW 140a. N/A 08,03110 08, 252I OH.25117 L82u I JU". 1 WU400 998,390 Bank of NY NMI.. 0 Federal National Mortgage Association :OUO,OW 125a. NIA 081 "'In u828I20 08.C8 17 1,458 1 25'. 2.wo,w0 1 W6,420 Hank of NY Mellon 0 38,06(tOW 37,99¢000 37,960,785 24,517,735 Ims Hepo.na Guldnian SaaM1S Bank CD 200,Wo IW. N,A 72511'_ 7)25117 MA 328 I8U5. IOH 6Iq 200733 Hank of Nl Mellon 202113 Uisc0rcr Hank CD 2UU,000 110% NA 72NI2 7/26I11 N,A 129 17Ys 20U,OW 200.554 Bank of N1 Mellen 202205 40,000 198 n0(i 401286 404,418 Medium Term lratmeub 111-110 3 gem;) U S Gur'r Ageiuy Sewnlles Fcdual National M1lonygc Assoammn =000Wd 1T. N1A 031243 0311/I8 031''18 159 IIWa 2n100,1. =W7,840 BankofNY'Nlellon 2111736n Frmnng Corporation(FICQI 500 wo 9ST,, NSA 04/06, 98 044)6/18 N,A 193 980aa 498.594 571,313 Bank of Arena 58uu15 Federal Farm Credit Bank 500 WO IOiaa NIA 02/24/16 01_; I_'119 N,A $95 1031. 499,85n 90n1511 HankotNYM.Ilon 502,720 3 loin a., ' 998 444 3 079 503 3.IOO.1195 ITulaI IFile 'I'd Ca.h �rcy �09115>2016 S 110,793 751 S 13213S574 5132231 042 5 F'S59i44 TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS August 31, 2016 Yield Par Value Coupon Rating Maturity to Maturity Total Invested Cash I $ 132,135,574 Miscellaneous Accounts Petty Cash Trust & Agency - Bank of America Downpayment Assistance (Housing Fund) -Bank of America Workers Compensation - Bank of America General Liability - Bank of America 1930's General Store Museum - Bank of America On -Linz Credit Card Fire Inspection Fees -Bank of America On -Line Credit Card Transportation Permits -Bank of America (Total Cash Deposited treasrep 09/15/2016 Adjusted Cost Basis CategoU Total $ 132,135,574 $ 132,135,574 3,950 N/A N/A open None 3,950 1,997,877 N/A N/A open None 1,997,877 33,955 0 20% N/A open 0,15% 33,955 72,947 N/A N/A open None 72,947 28,914 N/A N/A open None 28,914 12,806 N/A N/A open None 12,806 99,848 N/A N/A open None 99,848 9,423 N/A N/A open None 9,423 2,259,721 $ 134-395,295 1998 Airport PFC In,esco Government & Agency Private 20(to Airport PFC Imesco Government & Agency Private 2W7 Refunding Lease Revenue Bonds First Amencan Govemment Obligation 2007A&B Tax Allocation Bonds Fiat American Government Obligation 2007C Tav Allocation Bonds First American Go%eminent Obligation 2008 Airport PFC Refunding ]mcsco Go,c mnent & Agency Private 2012 Do, muwn Revi u6eatmn Lease Revenue Bond Reserve ILrvesm Government & Agencl Private tieasrep 09/15,016 0 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS August 31, 2016 Par Coupon Yield Adjusted Cmegury V1uv Rate Ratine Maw to Maturity Cost Basis Total 1,100,711 variable AAA open 00t°a I,I(N),711 t 100,711 1,125,845 variable AAA open 0 02° 6 I, 125845 l,l'_5,945 0 variable AAA open 0 W. 0 0 3o8,288 variable AAA open (101 369,289 368,288 340,895 variable AAA open 0 W. 340 895 340,895 601,323 variable AAA open 0021. 60L323 601 3_3 3,193,508 variable AAA open 0W. 3,193,5(r8 3,193,508 (memo onl)) Prior "r Market Value Source Market Value 1,100,711 Bank of NY Mellon 2,253410 1,125,845 Bank of NY Mellon 2,444,427 0 US Bank 0 3o8,288 US Bank 368,284 340,8v5 US Bank 340,892 601 323 Bank of NY Mellon 609e21 3,193508 Bank of NY Mellon 3,192,921 2012 2n 14 Convention Center First American Gosamment Obligation _'Old Merged Project 1 & 2 Housing Refunding First American Government Obligation 2015 Reassesment District No 2015-1 Fiat American Government Obligation 1015 Local Measure A Sales las Lust American Govemmem Obligation 2015 Refunding Lease Revenue Bonds Fust American Government Obligation Chevron. CoGen I ease Pimeeds Cash Funds With Century Golf Totals M,asrcp 0915I20to c ca TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS August 31, 2016 Par Coupon Yield Adjusted Category Value Rate RaM Maw to Matunty Cost Basis "total 12,02 variable AAA open 001% 12672 12,672 1,279,202 variable AAA open 0 W. 1,279.202 1,279,202 730,420 variable AAA open UOluo 730,420 730,4_0 L840,430 variable AAA open 001% 1840,430 1,840,430 3,o04 variable AAA open 0UP. 3,604 3,604 716,877 NrA N,A demand None 716 877 716,877 556623 NA NSA demand None 556,6'_3 556623 11,870,307 (memo only I Prior Qtr Market Value Source Market Value 12672 US Bank 12,672 1,279,202 US Bank 470,017 730,420 US Bank 274,338 1,840430 US Bank 1,840,412 3 6114 US Bank 3,604 716,877 Deutsche Bank 71n,877 56,o'_3 Century Golf 1,172,635 11,870397 $ 13 700 41O TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS August 31, 2016 By Maturity: Minimum Maximum Current Mo. 1 day to 365 days N/A N/A 97.73% 1 year to 3 years N/A 50.00% 2.27% 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 I Year N/A 50.00% 32.22% Money Market Mutual Funds - More than 1 Year N/A 25.00% 0.00% LAIF N/A 100.00% 32.37% U.S. Government Agencies N/A 60.00% 31.02% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% treasrep 09/15/2016 ti O