HomeMy WebLinkAbout9/7/2016 - STAFF REPORTS - 1.O. EPp�MSA
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'41F00% City Council Staff Report
DATE: September 7, 2016 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
JULY 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 July 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
$131 ,391,812 plus $10,717,758 bond issue capital projects, reserve and debt
service funds. There is an additional $2,219,642 in various miscellaneous/trust
accounts. The market value of the invested cash is $131,563,713.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of July 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.��
City Council Staff Report
September 7, 2016— Page 2
Treasurer's Investment Report as of July 31, 2016
The weighted average maturity (WAM) of the portfolio is 250.67 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 Kiehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
July 31, 2016
On Call Deposits Adiusted Basis Category Total Percentage
Checking Account $ 3,194,042
CalTrust ShortTerm 44,559,428
CalTrust MidTerm 4,970,586
State Pool 49,774,711 $ 102.498,768 78,01%
Short Term Investments
(I year or less)
U.S.Gov't Agencies 25,496,000
Time Deposits 398,600 25,894,600 19.71%
Medium Term Investments
(L year to 3 ears)
U.S.Gov't Agencies 2,998,444
2,998,444 2,28%
Long Term Investments
(3 year to 5 years)
0 0 0.00%
$ 131.391,812 100.00%
lreasrep
08/16/2016
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DETAIL OF INVESTMENTS
July 31,2016
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
July 31, 2016
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 131,391,812 $ 131,391,812
$ 131,391,812
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency -Bank of America 1,995,059 N/A N/A open None 1,995,059
Downpayment Assistance(Housing Fund) 33,950 0.15% N/A open 0.15% 33,950
-Bank of America
Workers Compensation-Bank of America 56,633 N/A N/A open None 56,633
General Liability-Bank of America 26,972 N/A N/A open None 26,972
1930's General Store Museum-Bank of America 12,806 N/A N/A open None 12,806
On-Line Credit Card Fire Inspection Fees 81,900 N/A N/A open None 81,900
-Bank of America
On-Line Credit Card Transportation Permits 8,373 N/A N/A open None 8,373 2,219,642
-Bank of America
Total Cash Deposited $ 133,611,454
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
July 31, 2016
Par Coupon Yield Adjusted Category (memo only) PriorQtr.
Value Rate flalurg Maturity to Nlaturity CostBasis Total Market Value Source Market Value
1998 Airport PFC
Invesco Government&Agency Private 1,066,466 variable AAA open 0.01% 1,066,466 1066,466 Bank of NY Mellon 2,253,410
1,066,466
2006 Airport PFC.
Invesco Government&Agency Private 009,804 variable AAA open 0.02% 1,009,804 I,009,804 Bank of NY Mellon 2,444,427
1,009,804
2007 Refunding Lease Revenue Bonds
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 368,286 variable AAA open 0.01% 369,286 368,286 US Bank 368,284
368,286
2007C Tax Allocation Bonds
First American Government Obligation 340,893 variable AAA open 0.01% 340,893 340.893 US Bank 340,892
340,893
2008 Airport PFC Refunding
I.,esco Government&Agency Private 601,267 variable AAA open 0.02% 601,267 601,267 Bank ofNY Mellon 609,921
601,267
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Privale 3,I93,210 variable AAA open 0.0196 3,193,210 3,193,210 BankofNYMellon 3,192,921
3,193 210
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
July 31, 2016
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Ruling Maturity m Maturly Cost Bast Total Market Value Source Market Value
201'/2014 Convention Center
First American Government Obligation 12,672 variable AAA open 0 01% 12,672 12,672 US Bunk 12,672
12,672
2014 Merged Project 1&2/11ousing Refunding
First American Government Obligation 470,019 variable AAA open 001% 470,019 470,019 US Book 470,017
470,019
2015 Reus'ses'ment District No.2015-1
First American Government Obligation 274,340 variable AAA open 0.01% 274,340 274,340 US Bank 274,338
274,340
2015 Local Measure A Sales Tas
First American Government Obligation 1,840,421 variable AAA open 0.01°:0 1,840,421 1,840,421 US Bank 1,940,412
840,421
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/CoGea 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 819,900 N/A N/A demand None 819,900 819,900 Century Golf I,173,635
819,900
Totals 10,717 758 10,717,758 $ 13,700,410
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
July 31, 2016
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.72%
1 year to 3 years N/A 50.00% 2.28%
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% 33.91%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 3.78%
LAIF N/A 100.00% 37.88%
U.S. Government Agencies N/A 60.00% 21.69%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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