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Home My WebLink About8/3/2016 - STAFF REPORTS - 1.S. UFO AMM City Council Staff Report DATE: August 3, 2016 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF JUNE 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 June 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 $139,864,381 plus $13,700,410 bond issue capital projects, reserve and debt service funds. There is an additional $2,166,133 in various miscellaneous/trust accounts. The market value of the invested cash is $140,049,522. RECOMMENDATION: Receive and File Treasurer's Investment Report as of June 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. 'PALM sa c V N ry�a4 c4`'F°R `� City Council Staff Report DATE: August 3, 2016 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF JUNE 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 June 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 $139,864,381 plus $13,700,410 bond issue capital projects, reserve and debt service funds. There is an additional $2,166,133 in various miscellaneous/trust accounts. The market value of the invested cash is $140,049,522. RECOMMENDATION: Receive and File Treasurer's Investment Report as of June 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.._.1 City Council Staff Report August 3, 2016— Page 2 Treasurer's Investment Report as of June 30, 2016 The weighted average maturity (WAM) of the portfolio is 273.69 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. iehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS June 30, 2016 On Call Deposits Adiusted Basis Category Total Percentage Checking Account $ 6,855,940 CalTrust ShortTerm 44,534,447 CalTrust MidTerm 4,966,489 State Pool 49,714,460 $ 106,071,337 75.84% Short Term Investments (I year or less) U.S. Gov't Agencies 29,996,000 Time Deposits 400,000 30,396,000 21.73% Medium Term Investments (1 year to 3 years) U.S.Gov't Agencies 2,998,444 Time Deposits' 398,600 3,397,044 2.43% Long Term Investments (3 yearto 5 ears) 0 0 0.00% $ 139,864,381 100.00% treasrep 07/19/2016 C W 3, S Total Investment Allocation As of 06/30/2016 $139,864,381 City of Palm Springs 4.9% 0.6% I 3.6% 1 .. 35.5% State Pool (LAIF) ii CalTrust ShortTerm 23.6% � z` a U.S. Gov't Agencies CalTrust MidTerm ir z2 �i a Checking Account 91 Time Deposits 31.8% --------------__ ___ _. n_.___.., ..... ___. _...__ __ ._. _.v.._.....__. 0 '� I TREASURERS MON I I-ILY REFOR I' DETAIL OF INVESTMENTS June 30,2016 Pa Coupon Nrch- Kimum, Fin1,N-1 Ulnm.W M, Ymld Adjus¢d CNtgory Ira only) Mnor Qv. W. Rile Rlbu Ilse Bale Call Uae wM1 IO Ma_su , Cost Bass ToW Afad.et Value s0u mmrl Value Checking-Bard0f.4merma f 68ii�00 N/A AAA demand N/A I N. 6,85594U 8 68,,940 tlank of.Nmnca 5,%8630 CmTmst ShonTemt 44,0000W amble NIA demaM N/A 1 073% 44.534,447 44,538,159 CaHmst 40446,405 CMrm,,MAT,- 4300.OW wnable NIA dmmd WA 1 101% 4,966,489 4985,057 CalTmsl 4,952.983 Local Agee,Mesl FuM(LAfF) 49,5000W ramble NIA dentmd N/A 1 0,i76% 49714,4W 49,721,450 LMF 4..05,188 104.155,940 I(KM1071,337 IM,124,606 91643.205 Shorz Tcm,bresmmms I°o or leal U.S.Gov-1 Agemy Sccuntbs Federal Home L.M1191age C.,,mom U 1501. NIA 01/19/16 01/ID/21 0129/I6 0 1500 0 0 Ef N.f NY M,11- 2.0110980 Federal Hooe"I N1.18e(uryo.mW, U 100% NIA 01/29/16 0112921 W,29116 0 100% 0 0 Batdof NY Wim 2.000.420 Fedeml H Loa,Bad 0 1.15% NIA 07P.9115 07/29/20 04/29/16 0 125% 0 0 1 ofwMc11m 1.000,770 federal Hmne Lem,Mmpage Ca,mml- 0 1.65% N,A I6;29115 10129no 0.n9/I6 0 165°1 0 0 &ink ofNY Meloo 500270 Federal Hmm Lom.Mongage Corpomdon 0 100% N/A 06;11/15 12/15/17 06I15/16 0 100% 0 0 Bnkof NY Mellon 500180 Federal NamNA Mongage As,ocemion 0 107% N/A 09/37/12 W27/17 M127/16 0 107% 0 0 Bind of NY Mellon 2.001,0W Federal Fmm Cmm,Bmk 500.0W 1,09% N/A 05/26/13 02/26118 ON1/16 606 109% 500,000 W0.010 BankofNY Mdbn 50000U Fede,A dome Lem Bind 2,000,OW 130% N/A 01127/16 07127118 07271I6 757 130% 2,000,000 2 ,00,920 Bind 0fNY Mellon 2.002,840 Fede]Home Loral Bmk 1,000,0W 125% N/A 01R9/I6 012921 U709116 1674 125% I.W0,000 I,W0,330 Bmd0f NY Mettm 1,000590 Federal Home Lam Me,,e Cory9.. IW0.600 150°% NIA 01/29/16 0112920 07129,16 1,308 150% 100,WO IW0,580 Baal of NY Mellon 1,001,mw Ftde,A Home Lam Ba* I,Wo.000 125% NIA 02rz9/15 07/2920 OM9/16 1,490 125% I.WO,o00 1,500690 Hmd of NY Mellon 1,002,010 Fed,rM N.."Monysge.Assuimim 4,W0,000 103', N/A 0190J13 0100/18 07130/16 579 103% 4.W0.000 1,00)380 Bmd ofw Mell. 4,000,320 Fedeml Fina C,W.,BmA 500,000 163% NIA O5104116 IIIN120 08104/16 l5as 165% 500,000 500,160 UmdofNY Melfm 0 Fcda.M Natimd Moaoau Assoeiewn 500000 11259, NIA O5120/15 05I1818 09118/16 697 1.125% 500,000 500,080 BmN of NY Mellon 50024S Federal Nmoml Mongage A-eemn 2,0000W 103% NIA O01/13 01121118 08/2U16 690 103% 2, O,000 2,OW.480 Bwl9fNY Mellon 2,000,0011 Federal Nmloml Mort,,e Ans9cialwn I,WOOW 150% N,A 055,25,16 0525121 08/25/16 1790 150% I,q ,tram I,OW,260 Bmlk ofNY Mellon 0 federal Nmoad Mongage AsmcWwn 500,000 1.125% N/A 02,26/16 02/26/21 0826,'Ifi I702 1.125% 500,000 SW,055 Ba ofNY Mellon 499.29e Federal N.emd Mangogt AsmeWian 500,000 1.00°% N/A 02/26/16 O2/26/21 08/26/16 1702 1U0°% 500,000 5Wd95 Baal ofNY Melon 500.040 Fede]Nwowl Mortgage Assoeimen 500,000 146% NIA 02126,16 1126119 08,26,16 1244 14098 500,000 SW,250 Bmd of NY Melon 500200 FederM Home LOm Morino Cmpomlim 500,000 125% NIA 02/26/16 0/2621 0826/16 1,702 125% MOO 5W,180 Hmd of NY klelbn 500,O1u FedmM He-Loan Bad 500000 148% NIA 03N2116 03/0220 09M/16 1,341 143% SOOow 5U0,190 Hmd of NY Mekm 100.075 Fedeod Hone 1.BmS 500" 170% N/A 03/02/16 03/02/21 09M2/16 1706 170% SWOOn 5W,50 Bmd NNY Melon 500,135 Federal Home lawn Mortgage C-,momm Igl0,000 123% NIA 06109/I6 06/09121 09M9/16 1805 125% I0W,000 1,000,240 Bmtk ofNY klaon 0 Federal Hate Lawn Bmk I,W000V 125% N/A M116116 O6,I6/21 09I1611fi 1812 125%0 998,500 1,000,180 Bank of N'Y Mellon 0 Federal Hone Lom NU,,,Comormion 2,WO,000 106% N/A 09120M 09/2M7 09/10116 447 100% 2,OW,000 2,003,980 Ba ofNY Mellon 2003,920 Federal Nmm"Mongge Assaamea 500,000 1375% NIA 03130/16 03130/21 0913W16 1,734 13750% 5W,000 5WA5 Bonk of NY Mellon 4o9,810 Federal Home Loin.Mortgage CoWratem 500000 150% NIA 03130/16 03139/21 09/30/16 1,734 1.50% 5W,000 500A35 B:mkof NV Melba 5W,300 Fad,"Hame Wan Mortgage Cu,puratim 500,000 160% NIA 03130/16 0313M_I 09,3W16 1,734 1,60°% 500.000 500401 Hank ofNY Melon 5W,240 Federal Home Iran Mortgage Cugmmim 500000 150% NIA 0421/16 0421I21 10/21/16 1756 150°% 5W,000 500395 Bmdof NY Mellon SW,075 Federal Home Loin Bank IW0,000 100% N/A (409/16 04/2821 IN23/16 1763 100% 998,%0 1,000,050 Bmd of NY Mellon 50,075 federal Fmn(RMn Bank SOO,WO 158% N/A 05OA7 02/17/21 11/17,16 1,693 158% 5W,000 5O0,015 Bord.ofNY Mellen 0 federal Fmn Cmdlt Bank 500,W0 125% N/A 05/25/16 01!21/21 11125116 I7W 123% SW,Wd 500,475 Bmk ofNY Mellon 0 FTdeml Nm;m Mortgage A,ocmNen 500006 125% N/A OS/25/I6 0512521 1115116 I,M 125% 5W,000 500,430 Back ofNY Mellon 0 Federel Fame Condo Bad: SUOWO 1.125% N/A 05/27/15 05127,'21 11125/16 1,792 1.125% 499,000 500.40 Bankof NY Melm. 0 Fedel N,mmml Mongage Assoemcn SW.WO 150% NA cm4f[6 1112420 02/24/17 1,608 1.50% 500,Wo 502.1H5 Bm� FNYMe1Wi 501.2W Fed,ml NadmW Mongge Amadinron 100,000 100% N/A 03/10/16 03,10121 03110/17 1714 LW°% 900,W0 500.735 Hmd 91'NY MOW, 499,905 Fcdcmd Fam,Credit Bin& IM(mo 0625% N'lA 0522/15 0522I17 N/A 326 0625% S00,000 500,075 Bmn,,fNY Melkm 499,875 Federal Fann Cad.,Bad IWQWB 130% NIA 06106/ib 061OU19 OUM117 1071 130°% I000,000 I,003540 BmefNY Nlellon 0 Fedemj F.CaJ.t Hind IWO,Ou0 112% NIA M20/16 ON27/N O12710 1092 1.12% I00U01ID 1,001240 Bme ofNY Mellon 0 Federal Nmoml Mongage Assocotroa I,W0000 I10% N/A 0620/16 0628119 06,29117 1,093 1.10°% 1mm000 1000,800 Bwoof NYMellm 0 30,OW,000 29996,Wo 30,020265 29,016AW ea-, mnvnm6 0 CA TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS June 30,2016 Par Coupon Purchase Maltnily Ft,,cNev Optional Days Ytthi Adjusted Category (m...only) Prior Qu. Value Rea Raline Date Date Call Date t0� Io Nlaltint Cost But, Tonal Marke Value Sours Market Value Short Term Ineestrimes f I year.,less) Time Deposits GE Cap Retail Ba l,CD 200,000 135% WA 9120,11, 720,16 N/A 20 135% 2W,000 200,069 Bank ofNY Mellon 200,458 GE Cap Bank CD 200,000 135% N/A 7,20/12 7,'20/16 N,IA 20 L33% 2W,000 200,069 Bank of NY Mellon 2W,45tl 400.0W 400,E 4W,138 4W,916 Medium Term Ie,am (I year m 3 Yearsm) to Time Deposits Goldman Sachs Bank CD 20000. 180% N/A 7/15/12 7,15/17 N/A 390 1.SO% 198.600 202,1'3 Back of NY Mellon 201,781 D..,e,Bank CD 2( W) 17Vn N/A 7/26/12 7126/19 WA 391 190°e 200,000 202,265 Bank of NY Mellon 201519 400000 398,600 404,418 403,300 U.S.Gov'I A,t my Securities Femral Nommal M0rtga,Assacialmn 2.000,000 LIO% N/A 03/12/13 03/I1,18 03/12/18 620 1.109n 2000,6W 2017,360 Bank of NY b1e11on 2,007,680 Financing Corporation(FICO) 500,00 980ts N/A 03/o6/tle 04/06/18 N/A 645 9.80% 498,594 580,015 Bank.f Amerma 590,7v Federal Farm Credit Bank 500.000 1 03% N/A 0224/16 02/12/19 N'A 957 1.03% 499,850 502.720 Bank of NY Mellon 500,440 3,000,0W 2998,444 3,1W095 2,598,474 Total Invested Cash 5138655940 S 139,8W,381 $ 140049,522 $ 124. 62.356 C.nmt Quarter Purtfuli.Yield 0.999b 0.65% Benchmark Yield,'. Prior Quarter 12 Month LAIF Average 040°0 - Portfolio Yield 2 Yee,Constant Nlamdy'Freasam, 098% -Interest lnmme for the Quarter Ending 06/30/2016 $ 290,569 •Gross.moue before deduction of ni,estmem related fees Q� TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS June 30, 2016 Yield Adjusted Par Value Coupon Ratine Maturity to Maturity Cost Basis Cateeory Total Total Invested Cash $ 139,864,381 $ 139,864,381 $ 139,864,381 Miscellaneous Accounts Petty Cash 3,950 N/A N/A open None 3,950 Trust&Agency-Bank of America 2,006,904 N/A N/A open None 2,006,904 Downpayment Assistance(Housing Fund) 33,945 0.15% N/A open 0.15% 33,945 -Bank of America Workers Compensation-Bank of America 8,756 N/A N/A open None 8,756 General Liability-Bank of America 28,925 N/A N/A open None 28,925 1930's General Store Museum-Bank of America 13,399 N/A N/A open None 13,399 On-Line Credit Card Fire Inspection Fees 61,935 N/A N/A open None 61,935 -Bank of America On-Line Credit Card Transportation Permits 8,319 N/A N/A open None 8,319 2,166,133 -Bank of America Total Cash Deposited $ 142,030,514 tceasrep 07/19/2016 O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS June 30, 2016 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Runny Maturit- to Maturity Cost Basis Total Market Value Source Market Value 1998 Airport PFC Invesco Government&Agency Private 2,253,410 variable AAA open 0,01% 2,253,410 2,253,410 Bank of NY Mellon 981,169 2,253,410 2006 Airport PFC Invesco Government&Agency Private 2,444.427 variable AAA open 0,02% 2,444,427 2,444,427 Bank of NY Mellon 1.649,785 2,444,427 2007 Refunding Lease Revenue Bonds First American Government Obligation 0 variable AAA open 0.01% 0 0 US Bank 1,070,869 0 2007A&B'fax Allocation Bonds First American Government Obligation 368,294 variable AAA open 0.01% 368,294 368,284 US Bank 368,278 368,284 2007C Tax Allocation Bonds First American Government Obligation 340,892 variable AAA open 001% 340,892 340,892 US Bank 340,886 340,892 2008 Airport PFC Refunding Invesco Govemment&Agency Private 609,921 variable AAA open 0,02% 609,921 609,921 Bank of NY Mellon 609,698 609,921 2012 Downtown Revitalization Lease Revenue Bond Reserve Invesco Government&Agency Private 3,192,921 variable AAA open 0.01% 3,192,921 3,192.921 Bank of NY Mellon 3,191,717 3,192,921 ueasrep 07/19/2016 0 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS June 30,2016 Par Coupon Yield Adjusted Category (memo only) Prior Our Value Rare Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value 201'/2014 Convention Center First American Government Obligation 12,672 variable AAA open 001%d 12,672 12,672 US Bank 12,678 12,672 2014 Merged Project 1&2/11ousing Refunding First American Government Obligation 470,017 variable AAA open 0.01°b 470,017 470,017 US Bank 470,010 470,017 2015 Reassesment District No2015-1 - First American Government Obligation 274,338 variable AAA open 0.01% 274,338 274,338 US Bank 274,334 274,338 2015 Local Measure A Sales Tax First American Government Obligation 1840,412 variable AAA open 0.01% 1,840,412 1,940,412 US Bank 1,840.402 L840,412 2015 Refunding Lease Revenue Bonds Cash 0 0 0 Bank of NY Mellon 3 [nvesco Government&Agency Private 0 variable AAA open 0 01% 0 0 Bank of NY Mellon 222 First American Government Obligation 3,604 variable AAA open 0.01% 3,604 3,604 US Bank 3,604 3,604 ChevroNCoGen Lease Proceeds Cash 716,877 N/A N/A demand None 716.877 716,877 Deutsche Bank 7t6,877 716,877 Funds With Century Gulf 1,172,635 N/A N/A demand None L172,635 1,172,635 Century Golf 1,378,207 1,172,635 Totals 13,700,410 13,70D 410 S L2,90&738 tezercp 07/19/2016 7 CO TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS June 30, 2016 By Maturity: Minimum Maximum Current Mo. l day to 365 days N/A N/A 97.57% 1 year to 3 years N/A 50.00% 2.43% 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% 0.57% 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% 31.84% Money Market Mutual Funds - More than 1 Year N/A 25.00% 3.55% LAW N/A 100.00% 35.54% U.S. Government Agencies N/A 60.00% 23.59% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% treasrep 07/19/2016 M