HomeMy WebLinkAbout7/6/2016 - STAFF REPORTS - 2.D. ALM Sp9
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City Council Staff Report
DATE: July 6, 2016 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
MAY 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 May 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
$132,360,583 plus $16,923,471 bond issue capital projects, reserve and debt
service funds. There is an additional $2,185,573 in various miscellaneous/trust
accounts. The market value of the invested cash is $132,401 ,572.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of May 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. 0O
City Council Staff Report
July 6, 2016 — Page 2
Treasurer's Investment Report as of May 31, 2016
The weighted average maturity (WAM) of the portfolio is 253.23 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
May 31, 2016
On Call Deposits Adjusted Basis Cateeory Total Percentaee
Checking Account $ 9,879,564
CalTrustShortTerm 40,509,689
CalTrust MidTerm 4,962,325
State Pool 45,714,460 $ 101,066,039 76.36%
Short Term Investments
(I year or less)
U.S. Gov't Agencies 27,497,500
Time Deposits 400,000 27,897,500 21.08%
Medium Term Investments
(1 yearto 3 years)
U.S. Gov't Agencies 2,998,444
Time Deposits 398,600 3,397,044 2.57%
Long Term Investments
(3 year to 5 years)
0 0 0.00%
$ 132,360,583 100.00%
treasrep
06/21/2016
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Total Investment Allocation treasrep
03/17/2016
$132,360,583 City of Palm Springs
( 7.5% 0.6%
4
I
3.7% -.:;v:�h� 34.5%
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State Pool (LAIF) 'i CalTrust ShortTerm
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S•S�'•�iS�S•
ShS Z
23.0% M
AAA_,
'r.i/(fSSA
�i rl•; � y � r U.S. Gov't Agencies CalTrust MidTerm
(� [•Checking Account ii�Time Deposits
30.6%
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'IREASURLR'S MONTI ILY REPORT
DETAIL OF INVESTMENTS
May 31,2016
Par Coupon P-Inno NLn.., FirsoNee Opland Hays Yield Adryaed Care,, (memo only) Prior Qa.
Vill= Rate Rein, Dale Date k'pll Dylg to Mglnrly to M.,n(y Cyst Bmj oodd Market Value .kiln, Market Valux
On Cell Dt oots
Checking-Balk of/nmra $ 9,879,564 N/A AAA demand N.!A I None 9,879,564 8 9,87V, Bank of Armnca 5,569,630
CalTrust ShonTerm 40000,(W vakeble N/A demand N/A I a73% 4g509,689 40,492,%5 CalTrusl 40,446,405
ColTnmI MMTernt 4,500,000 variable N/A deinand WA 1 099% 4962,325 4,956,287 Cal'rrusl 4,952,983
Local Agenry Imes,Fund(LAIF) 45S00,000 .amble NA demand N/A 1 046% 45214,460 45,724566 LMF 40,675,188
99,879,564 101,066,039 101053,392 91,N3,705
Short Telm Bmesmtems
l 1 ter&or less)
U.S.Ga,Y.Agenry Securities
Federal Home Loan Mongage Corporation 0 1505'. N/A 0129/16 01,29C1 04//29116 0 1.5f% 0 0 Bank of NY Mello. =0.0,990
Federal Hem,Loa,Mortgage Corporation 0 IOI)p N/A 01/29/16 01/29,121 04/29/16 0 100% 0 0 Bah of NY Mellon 300,420
Federal Home Loan Bmik 0 115% WA 07129,115 09/29110 04/29116 0 115% 0 0 Bah of NY Mello. 1,000,210
Fderal Home Wen Mortgage Coryoration 0 1.65% WA 10/2945 10/,29/,20 04/29,116 0 1.65°16 0 0 Bank of NY Mellon 500100
Fders Farm CrahE Balk 500,000 1.09% N/A 052N15 0226/I8 O6/01/16 636 109°0 500000 4°W,205 Bank of NY Mellon 500,000
Federal Home Loan Mortgage Corporation 5006100 1.00% N/.A 06/15/15 12/15/17 06/15116 563 1.009° 500,000 49R820 Bank of NY Mellon 500.180
federal Hone War Mongage Co,,oration 2,W0,000 1.00% N/A 09/20/12 09I20/17 06,20/I6 477 1.0% 2,000,000 2,000,E Bank of NY Mellon 2,003,920
Federal National Mortgage Ausammmn $W0000 107,k N/A 09/29111 09127,17 06/29/16 484 1071. 2,000000 2,000,180 Bank of NY Mellon 2,001.080
Federal Hmne Wen Bah 2,002000 1.30°. WA 01122/16 0729/18 0127,,16 987 1.30% 2,000,000 2,001060 Bank of NY Melon =002,840
Federn Home Wan Bank 1.000,000 1.25% N/A 0129116 0129121 0729/16 I'w 125% IDOD'000 1,000,0110 Hank of NY Mellon 1000,59c)
Federal Home Wan Mongage Corporation L002020 1.509, WA 0129,16 012920 0729,116 1,338 1.50. I,m,ow 1,000,590 Bank of NY Melon 1001600
Federal Hone Loan fl N 1,000,000 1.25% MA 07/29115 09/29/20 07/29/16 1,520 1.25% 1 000000 1,000,810 Bank of NY Melon 1002,010
Federal National Mongage Ausoutamn 4,000,000 1.03% N/A 01/30/,13 01/30,19 02/30/16 609 103% 4.000,000 3,987,440 Bank of NY Melon 4,000,320
Federal Farm Crodn Bah 500,000 1.65°. N/A 05/N/16 ll/N20 08I04/16 L618 1.65% 5e0,000 4W.755 Bank of NY Mallon 0
Federal National Mortgage Aasnnanen 5W,1100 1.125% N/A 051,20,115 05/18/18 08/18/16 919 1.125% 500000 498,500 Bah of NY Mellon 500,245
Federal Naaonal Mongage Assommnon 2,000,000 1.03% WA 0521/I3 05I21i18 0821/16 Z20 1.03% 20D0000 1W5.980 Bank of NY Mellon 2,000,000
Federal Nations Mortgagx ASOma,i.n IA00," 1.50A6 N/A 05/25/16 052521 08/25116 1820 I50% m),ow 9 ,IW Bank of NY Mellon 0
Federal Natonal Mortgage Association 500,000 1.13% N/A 0226/16 0226121 N26/16 1,732 1.13% 500,000 498,955 Bank of NY Mellon 499.295
Federal Nannal Mortgage.Aaxo......n 500,CC0 LOfP. N/A 02/26/16 0226021 08261I6 1,732 100% 10,000 499,615 Bank of NY Mellon 500,wo
Federal Nations Mortgage Asm....on 500000 1.40% N/A 02/26/16 11/26,19 08/26/16 1,274 140°/e 500,000 4W,950 Bad of NY Mellon 50Q100
federal Home Loaf Mortgage COrporaton 500,000 1.25% N/A 02/26/16 02/26/21 08/26/16 1,732 1.25% 500,000 498,670 Bank of NY Mellon 500,010
Falual Florae Loan Bank 500,000 149% N/A 03,02/16 03,02/20 09/02/16 1,311 149% 50Q000 498,4W Bank of NY Mellon 500,075
Federal Hone Loan Bank 500,000 1]0°/ N/A 03/02/16 03/02/21 09/02/16 1,736 17M6 5m,000 498,700 Bank of NY Mellon 500,13,
Federal Natons Mortgage Asmreenon 5000(A 1.38% N/A 03/30/16 03/30121 09/30/,16 1,764 1319 500,000 499,120 Ban:of NY Mellon 499810
Federal Homo loan Mongsgx C.Worler 500,000 1.50°. N/A 03/30/16 03/30/21 09/30,116 1,764 150% 50Q000 4W,950 Bank of NY Mellon 500,300
Federal Fome Loan Mortgage Corporaton 500,000 1.6Vd N/A 03/30/16 03/3021 09/30/,16 1,964 160% 500,000 499,600 Bank of NY Mellon 500,240
Federal Homer Loan Mongage Cotporato. 5W,000 150% N/A 0421/I6 N/2121 10/21/16 1,786 150% 500,000 499,740 Batik of NY Mellon 500.075
Rdxml Home L..Bank I000,D)o 100% NIA 04/29/16 W/29,"11 10/28/16 1,793 100% ens,500 99G010 Hank of NY Mellon 500,075
Fedeal Fano Credit Bak 500000 1.59% N/A 05/17/16 02/1721 11/17/16 I,723 I5r// 500,000 498,020 Bank of NY Mellon 0
Federal F.Credit Book 500,000 125% N/A 0525/16 0525,/21 11125!16 1,820 125% 500,000 4W,055 Bank of NY Mellon 0
Federal National Mongage A eoalton 500.000 125. N/A 05/25/16 0525.21 L125/16 1,820 125% 500,000 498,275 Bank of NY Mellon 0
Federal F.Credit Bank 500000 1125% N/A 0527115 05/22/21 1125/16 1,822 1.125% 499,000 498,e15 Bank of NY Mellon 0
Federal Nalronel Mongage Asmciati,n 500,000 150% N/A 02,24/16 112420 0224/17 1,638 1.50% 500,000 501,145 Book of NY Mellon 50L200
Federal National Mongage Asmnabon 500,000 100% N/A 03/10/16 03'10/Z1 03'10/12 1,744 1.003/; 50000 4W.435 Bank of NY Mallon 499,905
Federal Farm Credit Bank 500,000 0625% N/A 05/22W 0522/17 N/A 356 0625% 500,000 499,410 Bad of NY Mellon 499,875
27,500,000 27497,100 27460.N5 29,016,460
leorrep
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
May 31,2016
Par Coupon Puah. Mnmriry FnsvNen 0,.r l Days Yield Adjusted C.e,, lmmn onlyl Prior Qtr.
/\aloe Rw Rutmu Del, Dale CICI Date 1.mmn to Maturil C.,m B,3 T al Market Velue Market Vah¢
Shon Tnrm ImesOrems
I I lrcor or lessl '
Tnn¢Deports
GE Cap Rerul Bank CD 2W000 1.15% N/A 7,20/12 72046 N,A 50 1359d 2w. o 200,252 Bulk ofNY Mallon 200.458
GE Cap Bank CD 2W000 135% NIA 712W12 4Q046 N,A 50 135% 2W," =252 Back of NY Melba 200,458
4W.000 400,000 400.505 400,916
Ma .Term Inveslmems
1 I year in 3 ygrs)
Tnn,Depasns
Goldman Sark Bwtk CD 2W000 1801. N/A 7,25/12 7,125/U N/A 420 180% 198,600 201,168 Bulk of NY Malon 201.781
Dlxavar Bard CD 200000 170oo N/A 912&12 9/26/17 N,A 421 170% 2u),W, 21NI940 Bu,k of NY Mdlnn 201519
4W,OW 398,600 402,108 403,300
U.S.Gosh Aemw Saurntes
Fsderr Na,mal M1lon80.4e Associacbn 2,W0000 1.10, N/A 0311113 ON,13 03/12/18 650 1.10% 2,OW, O 2005540 Bard ofNY Mallon 2,007.691)
Flnum.B (RCO) 5W.OW 9.804: N/A N/06188 04,00,18 N/A 675 980% 498,594 SK833 Bart of Am,r,,a 590,794
FMeral F.Credlr Bank SW" 103% N/A 02,/24/I6 02,12,19 N,A 987 1031. 4N,850 499,160 Barak oFNY Meuon 100.440
3,"," 2,W8,444 3,095.533 2,596,424
Totr lmested Cu g I11,179564 8 132.360,583 8 132.401.572 S 114062356
trcasre
6W2U2016
TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
May 31, 2016
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 132,360,583 $ 132,360,583
$ 132,360,583
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency-Bank of America 2,011,391 N/A N/A open None 2,011,391
Downpayment Assistance(Housing Fund) 33,941 0.15% N/A open 0.15% 33,941
-Bank of America
Workers Compensation-Bank of America 47,618 N/A N/A open None 47,618
General Liability-Bank of America 30,000 N/A N/A open None 30,000
1930's General Store Museum-Bank of America 13,422 N/A N/A open None 13,422
On-Line Credit Card Fire Inspection Fees 37,406 N/A N/A open None 37,406
-Bank of America
On-Line Credit Card Transportation Permits 7,845 N/A N/A open None 7,845 2,185,573
-Bank of America
Total Cash Deposited $ 134,546,156
treasrep
06/21/2016
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
May 31, 2016
Par Coupon Yield Adjusted Category (memo only) PriorQtr.
Value Rate Ratine Minority to Maturity Cost Bass Total Market Value Source Market Value
1998 Airport PFC
Invesco Government&Agency Private 2,190,960 variable AAA open 0 01% 2,190,960 2,190,960 Bank of NY Mellon 981,168
2,t90,960
2006 Airport PFC
Invesco Government&Agency Private 2,32t,185 variable AAA open 0.02% 2,321.185 2,321,185 Bank of NY Mellon 1,649,785
2,321,185
2007 Refunding Lease Revenue Bonds
First American Government Obligation 0 variable AAA open 0.01% 0 0 US Bank 1070,869
0
2007A&B fax Allocation Bonds
First American Government Obligation 368,282 variable AAA open 0.01% 368,282 368,282 US Bank 368,278
368,282
2007C Tax Allocation Bonds
First American Government Obligation 340,890 variable AAA open 0 0 1%- 340,890 340,890 US Bank 340,886
340,890
2008 Airport PFC Refunding
Invesco Government&Agency Private 609,946 variable AAA open 0,02% 609.946 609,846 Bank of NY Mellon 609,698
609,946
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Gov emment&Agency Private 5,452,765 variable AAA open 0.01% 5.452,765 5,452,765 Bank of NY Mellon 3,19] 717
5,452 765
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE &RELATED FUNDS
May 31, 2016
Paz Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rye Ratine Matti itv to Maturitv Cost Basis Total Market Value Source Market Value
201J2014 Convention Center
First American Government Obligation 12,671 variable AAA open 0 01% 12,671 12,671 US Bank 12,678
12671
2014 Merged Project 1&2/Housing Refunding
First American Government Obligation 470,014 variable AAA open 0.01°6 470,014 470,O14 US Bank 470,010
470,014
2015 Reaesesment District No.2015-1
First American Government Obligation '74,337 variable AAA open 0.01% 274,337 274,337 US Bank 274,334
274,337
2015 Local Measure A Sales Tax
First American Government Obligation 2,810,901 variable AAA open 0.01% 2,810,901 2,810,901 US Bank t,8-10,402
2,810,90t
2015 Refunding Lease Revenue Bonds
Cash 0 0 0 Bank of NY Mellon 3
Invesco 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 O.Ot% 3,604 3,604 US Bank 3,604
3,604
Chevron/CoGeo Lease Proceeds
Cash 716,877 N/A NA demand None 716,877 716,877 Deutsche Bank 716,877
716.877
Funds With Century Golf 1,351,139 N/A N/A demand None 1,351.139 1,351,139 Century Golf 1,378,207
1.351.139
'I Ovals 16,923.471 16,923,471 $ 12,909,738
Ir.,n,
06/11/1016
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
May 31, 2016
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.43%
1 year to 3 years N/A 50.00% 2.57%
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% 0.60%
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% 30.61%
Money Market Mutual Funds - More than I Year N/A 25.00% 3.75%
LAIF N/A 100.00% 34.54%
U.S. Government Agencies N/A 60.00% 23.04%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
treasrep
06/21/2016
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