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Home My WebLink About6/1/2016 - STAFF REPORTS - 2.D. ��FPLM sA4 iy Q Y N f* rycowo. r ff F°"th%" City Council Staff Report DATE: June 1, 2016 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF APRIL 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 April 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 $123,950,349 plus $13,410,030 bond issue capital projects, reserve and debt service funds. There is an additional $2,275,349 in various miscellaneous/trust accounts. The market value of the invested cash is $124,038,999. RECOMMENDATION: Receive and File Treasurer's Investment Report as of April 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. 2•D• City Council Staff Report June 1, 2016 — Page 2 Treasurer's Investment Report as of April 30, 2016 The weighted average maturity (WAM) of the portfolio is 227.14 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. Riehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report � 2 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS April 30, 2016 . On Call Deposits Adjusted Basis Category Total Percentage Checking Account $ 9,995,538 CalTrust ShortTerm 40,486,518 CalTrust MidTerm 4,958,288 State Pool 40,714,460 $ 96,154,805 77,58% Short Term Investments (I year or less) U.S.Gov't Agencies 23,498,500 Time Deposits 400,000 23,898,500 19.28% Medium Term invest (1 year to 3 ears) ments U.S.Gov't Agencies 3,498,444 Time Deposits 398,600 3,897,044 3.14% Long Term Investments (3 year to5 ears) 0 0 0.00% $ 123,950,349 100.00% treasrcp 05/17/2016 O W Total Investment Allocation treasrep $123,950,349 03/17/2016 City of Palm Springs 8.1% 0.6% b a�° 32.8% � 4.0% }�'. State Pool (LAIF) rr CalTrust ShortTerm y f '��t•tSS 455555555 /Z SS SSSSSttSi lSt SSSSS�SSSSSS S«< U.S. Gov't Agencies XX� CalTrust MidTerm Checking Account ■Time Deposits 32.7% 0 A TREASURER'S MONI LILY REPORT DETAIL 01: INVESTMENTS April 30,2016 Par Coupon Purdoec Marano, FvaMext Optiontil Days fold Adjusted Camgory (memo only) FmrQlr Value Rs(, µKi g Date 2= Car Dj1€ to MaIgnly to Nimal"I C9B Ban TTstA Makal Value Source Marken Value Joe Call Deposits Checking-Bad of America 5 9,'W5,518 WA AAA demand N/A sax 9,995,538 $ 9,991,539 Balk of America 5,508.630 CalTrusl Short l can 40,000,(W variable N/A dewed N,A 1 Via. 40,486,518 40p69,793 CLTruSt 40,446,401 CalTrura MdTerm 4,500.000 varrablu NIA demand N/A 1 0999e 4,959,288 4,957,167 C4T,r,l 4,952983 Local Agency laved Fwd(IAIF) 40Q500," variable N/A demand N/A 1 0.5255° 40,914A60 40.723,461 LAIF 40,675,188 94,9e)5,538 96,154,805 96.145,960 91,641,205 Short Term laue9mre" (IYcarorlm) C.S.(fart Asa,Securities Federel Home on,Mongage Coryonlion 0 1.50°/e NIA 0129116 0129,21 (FM12W'IL 0 150Sa 0 0 Bank of NY Melon 2,000,980 Fderal How,Loan Mortgage Coryoraticn 0 IWee N/A 01/29/16 0/29i21 0429/16 0 100% 0 0 Balk ofNY Melon 2,000,420 Federal Hame Loaf Bank a 125% NIA O7,129115 02/29/20 04,29116 0 125% 0 0 Fault of NY Melon 1,000,770 Federal Florae Low Mortgage Cor,knoton 0 1.65% NIA 10/29/15 10129,10 04/29/16 0 1,65% 0 0 Bar ofNY Melon 500,270 Fwlerd Fain Credit Bar 50000o I( % N/A 05,26/15 O2,26/18 05,01116 662 1I ,° 5W,000 40,930 Bad orNY Mellon 500,000 Federal Nalow Mortgage Associutno SO ,= 1.125% N/A 05,20,15 05/18/18 0918/16 248 1.125% IOAW0 499,295 Bar ofNY Melon 500,245 Federal NalionN Mortgage Assacunker 2.)og000 103% N/A 05/21/13 05/21/18 0521116 251 103% 2,",000 1999,240 BankofNY Melba 2.000,000 Federal House Low Mortgage Coryomn- SOO,WO I.00% NIA C6/15/15 12/ISII7 06/15/16 594 1(xg/ 500,000 500,000 Bar ofNY Mellon 500,180 Fd,,od 11ome Loan Mortgage Coryiounan 2,000,000 1002/o N/A 09/20/12 0920,117 0620/16 508 100°/e 2,0XI000 2,001,920 Bar DENY Melba 2.003,920 FuNnal National Mongage Asmclaon 20(j IOr% N/A 09127,12 0927/17 ln,� 7116 515 IOA/e 2,000,000 2,000,640 Hark ofNY Mellon 2,001080 Foci Home Latin Bar 2.000000 1.30°.L N/A 01227/16 0727118 0222116 818 130°0 2,000,000 2,002,000 Bank ofNY Mellon 2,002,840 Federal Henn,Law Bad 1,000000 125% N/A 0129/16 0129121 07,29116 1,735 1.251. 1,000,000 L00Q330 Bak of NY Mellon 1,000,5% Fderal florae Loan Mongage Corycration 1001 1.50% NOA 01/29/16 012920 0729/16 1,369 1.50°0 1.000000 1,001,080 Bank of NY Mellon L111116W Federal Hume Luau Bad 1000000 125% NIA 0729/15 0729/20 02/29'16 1,511 125% 1,000,000 1001,39) Bank of NYMellon 1002,010 Federal Nmional Mongtige Association 4,000,000 I(13% WA 01130,13 01/3o,n8 09g0/16 640 1.03% 4,001 3,92,680 Bar of NY Mellon 4,000,320 Federal Naliunal Mongage Assocmtron 5f)(000 113°e NIA 0226/16 0226/21 08/26/16 1,763 113% 500,000 4WAS5 Bar of NY Mellon 499,295 Federal Nmirad Mongoge Mmciatian 500,000 100% WA 02,26116 0212621 08.26/16 1,763 1.00% 501 4W,910 Bankcf NYMellon 500,040 Federal National Mongage Association 5.0.000 140% NIA 02/26/16 1126,99 0826116 1303 140°n 508a11a 5W,085 Bar of NY Mellon 500200 Federal Home Law Mango,,,C'orpomiion 500,000 115% NIA 02/26i16 0226/21 08/26/16 1,763 125% 500,000 499560 Bank of NY Mellon 50Q010 Federal Horne Loan Bak 500,000 149% INA 031U2116 0310220 09/02/16 1402 149% 500,000 41N,890 Bar of NY Mellon 500,075 Federal Home Low Hank 5N.W0 190% N/A 03,02/16 03N2121 09i02/16 1,767 120°i° 500,000 5W,035 Bank of NY Mellon 500.135 Federal National Mortgage Association 500,000 1.38% WA 0310116 03b021 09/30,116 I]95 139% 500,000 4W,NZ5 Bar of NY Mellon 499,810 Federal Ii LOw Mkingaga Cotporalion 500,000 1.501. WA 03/3096 03130/21 0990/16 1,795 150% 500,000 SWI51 Bar of NY MCI1on 5W300 Federd Home Loan Mortgage Coryoraion 5c0,000 1.60e N/A (13/30/16 03/30/21 09130/16 1,295 160% 500,000 5W,105 Bar of NY Mellen 5W,240 Federal Lone,Loan Mongage Cogoralion 50 ,000 1.50% NIA 04/21/16 0421/21 10/21/16 1817 150% 500.000 499.910 Bar of NY Mellon 500,075 Federd Home Low Bar 1,000,000 10o°o N/A 04/29116 04128,21 1028,'16 1.824 1.01 998,500 e97,350 Bar of NY Mellon 500,025 Federal National Mortgage Association 500.000 1.50% N,A 0224/16 112420 02/24/12 1669 150% 500,000 500,905 Bar of NY Mellon 501,200 Federel National Mongage Ae.uwan 500.000 1.00% N/A 03/10/16 03110/21 03/10,117 1,775 100% 500,000 499.730 Bad of NY Melon 499,905 25,500,000 23,498,5W 23,494,750 29,96,585 ere srep 05/I7"016 Q W TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS April 30.2016 Par Coupon Purchase hlatunty Fasn Nesl Opt,onal nays Yield Adjusted Category Imenn onyl Pno,Qlr. Value Rate Reline IJac Date Call Date n.M1lewn@ tuM+woro 4'y5 ri)�I; sal Mnrkzl Value re M.Av Val S1 1 han Iorm lnvcsmmra, yxar or less) 'lime Depnsina GE Cap Retail Bank CD 200000 135°% N/A 7120/12 7,20116 NIA 81 135% 200,000 200,364 Bank of NV Melon 2UU,458 GE Cap Bank CD 200,000 135% N/A 7,120,12 2/2W96 N1A 81 1.35% 200,000 200,364 Bank of NY Nlellon 200,458 400000 400,000 400,728 400,916 M dinm nnn m�eslmema I vxar to 3 Yearsl Time Depnsas Goldnnwn Sachs Bank CD 200,000 180% N/.A 2/2912 7,25/17 N/A 451 180% 199,600 202321 Bank of NY Mellon 201,781 Der.'r,Balk CD 204,c00 190% N/A 7,26112 7126/12 N/A 452 170. 200'" 202449 Bank of NY Mellon 201,119 400000 398,b00 404,920 403,300 U S Cov'n Agency Secucur s Federal Farm Credit Bank 1e0,000 0625°% N/A 05/22115 05/22/17 N/A 389 a625°id 500,000 499625 Hank of NY Mellon 499,915 Federal Navanal Mortgage Association =000,000 1.[W,. &:A 03112/13 03/12d9 031M8 681 1.10°. 2,00%0 2,007,340 Bank cf NY Mellon 2,007.690 Financing CoMoraticn(FICO) 5000110 990% N/A 04,06/98 04/06/IB NIA ']q5 981P.4 498.594 585,101 Bank ofA..nca 590,794 Federal F.,Credir➢ank 500,000 1.03% N/A 02124116 02/12/19 N/A 1,018 1.03'. 499.850 500675 ➢and of NY Mellon 100,44. 3,SWg000 3,499,444 3,592,291 3,098,349 Total hrvered Cash S 122 795,538 S 123150,149 S 174,038,999 E 124 0 62,356 i vrp Q511712016 VT VI TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS April 30, 2016 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Catcaory Total Totallnvested Cash $ 123,950,349 $ 123,950,349 $ 123,950,349 Miscellaneous Accounts Petty Cash 3,950 N/A N/A open None 3,950 Trust&Agency-Bank of America 2,003,189 N/A N/A open None 2,003,189 Downpayment Assistance(Housing 33,937 0.15% N/A open 0.15% 33,937 Fund)-Bank of America Workers Compensation-Bank of America 26,500 N/A N/A open None 26,500 General Liability-Bank of America 27,542 N/A N/A open None 27,542 1930's General Store Museum-Bank of America 10,780 N/A N/A open None 10,780 On-Line Credit Card Fire inspection Fees 162,015 N/A N/A open None 162,015 -Bank of America On-Line Credit Card Transportation Permits 7,436 N/A N/A open None 7,436 2,275,349 -Bank of America Total Cash Deposited $ 126,225,698 treasrep 05/17/2016 - O v TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS April 30, 2016 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Ratm2 Maturt to Maturity Cost Busts Total Market Value Source Market Value 1998 Airport PFC Invesco Government&Agency Private 1,043,562 variable AAA open 0 01% 1,043,562 1,043.562 Bank of NY Mellon 981,168 1,043,562 2006 Airport PFC Invesco Govemment&Agency Private 1,772,980 variable AAA open 002% 1,772,980 1,772,980 Bank of NY Mellon 1,649,795 1,772,980 2007 Refunding Lease Revenue Bonds First American Government Obligation 0 variable AAA open 0.01% 0 0 US Bank 1,070,969 0 2007A&B Tax Allocation Bonds First American Government Obligation 368,280 variable AAA open 0,01% 368.280 368,280 US Bank 368,278 368,280 2007C Tax Allocation Bonds First American Government Obligation 340,888 variable AAA open 0.01% 340,888 340,888 US Bank 340,886 340,888 2008 Airport PFC Refunding Invesco Government&Agency Private 609,773 variable AAA open 0 02% 609,773 609,773 Bank of NY Mellon 609,698 609,773 2012 Downtown Revitaliwtion Lease Revenue Bond Reserve Invesco Government&Agency Private 3,192,110 variable AAA open 0,01% 3,192,110 3,192,110 Bank of NY Mellon 3,191,717 3,192.t10 rreasrep W]7l20t6 co TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE &RELATED FUNDS April 30, 2016 Par Coupon Yield Adjusted Category (memo onl)) Prior Our Value Rate Rathte Maturity to Maturity Cost Basis Total Market Value Source Market Value 2012/2014 Convention Center First American Government Obligation L386,715 variable AAA open 0,01". t 386,715 1,386,715 US Bank 12,678 F386,715 2014 Merged Project 1&2/Houstng Refunding First American Government Obligation 470,012 variable AAA open 0.01% 470,012 470,012 US Bank 470,010 470,012 2015 Reassesmcot District No20L5-1 First American Government Obligation 274336 variable AAA open 0.01% 274,336 274.336 US Bank 274,334 274,336 2015 Local Measure A Sales Tax First American Government Obligation 1,840,4t 1 variable AAA open 0 01% 1940,411 1,840,411 US Bank 1,840,402 840,411 2015 Refunding Lease Revenue Bonds Cash 3 3 3 Bank of NY Mellon 3 Inveseo Government&Agency Private 222 variable AAA open 0.01°. 222 222 Bank of N Y Mellon 222 First American Government Obligation 3,604 variable AAA open 0.01% 3,604 3,604 US Bank 3,604 3,830 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 Cenmry Golf 1,390,257 N'A NiA demand None 1,390,257 1,390,257 Century Golf 1,378,207 L,390,^_57 Totals [3,410,030 13410,030 S 12908738 ueirnep 05/17/2016 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS April 30, 2016 By Maturity: Minimum Maximum Current Mo. 1 day to 365 days N/A N/A 96.86% 1 year to 3 years N/A 50.00% 3.14% 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% 0.64% 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% 32.66% Money Market Mutual Funds - More than 1 Year N/A 25.00% 4.00% LAIF N/A 100.00% 32.85% U.S. Government Agencies N/A 60.00% 21.78% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% treasrep 05/17/2016 r 0