HomeMy WebLinkAbout5/4/2016 - STAFF REPORTS - 2.D. A`M Sp4
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V141F01W*r City Council Staff Report
DATE: May 4, 2016 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
MARCH 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 March 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
$123,446,606 plus $12,908,738 bond issue capital projects, reserve and debt
service funds. There is an additional $2,272,816 in various miscellaneous/trust
accounts. The market value of the invested cash is $123,562,646.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of March 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. •D.
City Council Staff Report
May 4, 2016 — Page 2
Treasurer's Investment Report as of March 31 , 2016
The weighted average maturity (WAM) of the portfolio is 289.05 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
March 31, 2016
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 5,568,630
CalTrustShortTerm 40,463,129
CalTrust MidTerm 4,954,104
State Pool 40,666,199 $ 91,652,062 74.24%
Short Tenn Investments
(1 year or less)
U.S. Gov't Agencies 27,497,500
Time Deposits 400,000 27,897,500 22.60%
Medium Term Investments
(I yearto 3 ears)
U.S. Gov't Agencies 3,498,444
Time Deposits 398,600 3,897,044 3.16%
Long Term Investments
(3 year to 5 years)
0 0 0.00%
$ 123,446,606 100.00%
treasrep
04/20/2016
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Total Investment Allocation treasrep
$123,446,606 03/17/2016
City of Palm Springs
0.6%
4 0% 32.9%
State Pool (LAIF)
r57S5 y��.,lS
iij CalTrust ShortTerm
25.1% a
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U.S. Gov't Agencies
yllt r',
CalTrust MiclTerm
Checking Account
�I
32.8 W Time Deposits
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
March 31,2016
Par Coupon Purchase Niaturdy Ftnn Next Optional Day, Yield Adjusted Calegory Onenw only) Rior Ql,
Value 601G Mm NO, D.I. Call Dae IQ Mau,- iu Mann,, C,rs_B33 TTI}a N, ou Value Syyyy NWI,o Veluc
Checking-Bank ofAmerioa S 3569,630 N,A AAA demand N/A I Nona 5,569,630 S 5,568,630 Dank of America 3.242,684
CelTmst ShortTerm 40.000,000 aiabl, N/A demand N/A 1 0W16 40,463,129 40446,405 CeITm4 37,354,546
CalTra,t Mid form 4,500,000 amble MA de-d N/A 1 1 00% 4.Y54,104 4,952,993 CilTrust 4,911 9N8
Local.Agene,lnvex Fund(LA1F) 40500,000 variable NIA demand N/A 1 0.5U6% 40,666.199 406]5,188 L.MF 40,598,872
%,568,630 91652,062 91,643205 85,371.128
Shen Tenn Imxslmems
f l yearur less3
U.S.GuV't.Agauv Seeuntie,
Federal 11,ne Loan Mongage Cotpurauou 0 1SM NIA 0929/IS 092920 01C9/16 0 1.SO% 0 0 Bank of NY Mellon I,WO.400
Federal Hume Loan Mongage Corporation 0 1.00% N/A OS122/IS 02,72118 02/22116 d 100% 0 0 Bad ofVY Melon 500,110
Fedxal Nalioral Mongage M,vcianoun 0 120u, N/A 02,27115 02,27,18 02/27/16 0 1.201. 0 0 Bad efNY Mellon 1001,1 SO
Federal Home Loan Bahr 0 14�-e N/A 03,04115 0904'18 63/04116 0 140% 0 0 Bank of NY Mello. 994,900
Federal Home Loan Mongage Coryonlion 0 1.25% WA 03/09115 03/09118 03,09/16 0 115% 0 0 Bank ufW Mellon 1000.770
Federal Homo Loan Badr d 100°o N/A 06/12/13 06/12/18 03/12/16 0 1.0 Ia 0 0 Bank of NY Mellon 998,110
Federal Farm Crs iBank 500,000 109% N/A 05/26/15 0226/18 04,01116 697 109% 500,OW 5KNO ➢ad oFfN Mellon 497910
Federal Hmne luau Mangaga Coryoralion 2"000 1"s N/A 0129/16 012921 0429/16 1,965 150°a 2,000,0e0 2.OK980 Beak ofNY Medon 0
Federal lame Loan Mongage CoWmlion 2,OOQ000 1.W. N/A OM91I6 0129/21 04/29/16 1,765 1W,4 2,000,000 2,000,420 Dank ofN Mellon 0
Federal Home Luau Bank LOOO,OOO 1.25% N/A 0229115 092920 04/29/16 1581 125% 991,5W 1,000,770 B"efNY Mellon 1000,250
Federal Home Loan Mongage C0lpomnon 500,000 1.65% N/A IMW15 10129,'20 04/29/16 1,673 165% 500,000 SW,220 Bad ofN Mellon 500,035
Federal Nanunal Mongage Aasucialion 4,000000 1.03% NIA 0190/13 01130/19 W/30116 620 1.03% 4,000,000 4,000,320 Bank ofTFY MtlWn 3.9go'no
Fedxal National Mongage Aswciati9n 500000 1.125% WA 0520/I5 05/18/19 05/18/16 918 1.125% 500,000 500,245 Bank,fNY Mellon 500.045
Federal National Mongage Association 2,W0000 1.03% WA 05M/I3 05121/18 05//21116 781 1.03% 2,000,000 2,000,0W Bank of NY Mellon 1,987,340
Federal Flom,Loan Mongage C.W.non 500,000 100%s N/A 06/IS15 Ib'15/19 06/15/16 624 1.0Ma 500,000 SW,180 Bank of NY Mellon 498,320
Fedxal Florae Loan Mongage Colp moon 2,000,000 1.00% N/A 0920112 0912097 06/20/16 518 1M1. 2,000,000 2,003,920 Bank of NY Melon 2,003,540
Federal Na6oral Mongage M.e.ai9n 2,W0000 1Or/ WA 0929/I2 09,27,19 0622/16 545 LOTa 2,000." 2,001080 Bank of NY Mellon 1995,500
Federal Home Lean Bank 2,000,000 13M, N/A 01,27116 0727,18 07127116 848 1301. 2,000,000 2,002,840 Bad of NY Mellon 0
Federal Flume Loan Nand I,000,000 125% N/A 010946 012921 0729,116 1,965 1.2516 1000,OW I.OW,590 Bank of NY Mellon 0
Fedxal lfome Loan Mongage Coryorauon I,W0,000 1.W, N/A OM9/16 01/29/20 02/29/16 L399 15fPu I,OmoW I,01,600 Bmk of NY Mellon 0
Fedxal lira-Loan Bares, I,000,000 1251. N/A 07/29/15 0729I10 07/29/16 1,581 125% IOm000 1,002MO Bank of NY Melbu IOW240
Federal Nxllorwl Mongage Association 500,0,00 1.13% N/A 0226116 02Q6/21 082NI6 1,193 1131. 500,000 499,295 Bank of NY Melon 0
Federal Nalimal Munga,M socunjan 500000 100% N/A 0126116 02,16/21 W/26/16 1,793 1.00°6 500,000 5W,040 Bad OFNN Melon 0
Fedxal Maj."Mongage Association 500,000 1.40% N/A 02/26/16 1126/19 08/26/I6 1,335 140°a 5➢QOW 500,200 Bed oM Mallon 0
Federal Home Loan Mongage CoWmiion 500.001 125% N/A 0226116 02/26/21 0826110 1,793 115% 500,000 500,010 Bank of NY Mallon 0
Fedxal Home Loan Bank SW,WO 148% N/A 03,02116 0310220 091o2/16 1432 1.48% 500'" 500,075 Bard of NY Mellon 0
Federal llama Lean Bank 500,000 LTO% N/A 03/02116 0310221 09102116 1,997 190°/ 500000 5W,135 Bank of NY Mellon 0
Federal NaOmal Mongage Asssiati0n 500,000 1.39% N/A 03/30/16 03/30/21 09/30/16 L825 1.38% 500,000 41)9,810 Bank of NY Mellon 0
Federe111une,Loan Mon,,,Curyoouon 500.000 ISO'/o N/.1 03,30116 03130/21 O9/30/16 1,825 1.50a6 5W,W0 500,300 Bank ofTY Mellon 0
Federal Home Loan Mongage Cmpomlion 500,000 1.60% N/A 03/30/16 03b021 0900/16 1,825 1W, 5W,000 500,240 Bank of NY Mellon 0
Fedxal Naliowl Mongage Association 500000 1.50°o N/A 02/24/16 1124/20 02/24/17 1699 15WIs 500,000 501,200 Bard of NY Melon 0 li
Federal Nali0oal hlon8a,A Ae,usion 500000 1OWls N/A O3I0/16 03/1021 03/10/,17 1,805 1.00% 500." 499,905 Budof NYMellon a
27.500,0W 27,497,SW 21,516,435 19.459,530
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
March 31,2016
Par Coupon Purchase Mamn' FiabNex,UVuorel Days Yicld Ad3uaed Category Imetro onlyl Prwr Q[r.
Value Ra.w Rome kr= DIn Cali Date ram',., g+Maturity C."B.5 isaw Market Value S..", NWke Value
ShoN Tetm Imeslments
(I year or leccl
Time DeW au
GE Cop Reeall Ban:CD 200,000 1.35% WA 1I20112 7120l16 N/A 111 135% 2W,000 200,458 Bart:ofNY Mellon 200,614
GE Cap Bank CD 2W,000 135% N/A 7/20,12 920,16 N/A III 135% 200.000 2N,458 Bmlk of NY Mellon 200,614
4,000 400,000 400.916 401.228
Medium Term lmest-s
11 year w 3 years)
Tinie DeW sns
Goldmoa Sachs Bardt CD 200,000 I80% N/A 7,125,12 7,25117 NIA 481 18046 198,600 2111]81 dark oFNY Moron 201979
Dixcover Bank CD 200,000 1,M% N/A 7/26112 7126/7 N/A 492 17M 2W,000 201,519 Bmtk of NY Mellon 201,666
40D,DW 396,600 403,300 403,642
U.S.Gods Ag ySecunnea
Federal Par.Credit Bart: 500,000 U625% N/A 05/22/15 05,22/17 N/A 412 062S% 500,000 499,873 Bads ofNY Mellon 497,445
Federal National Mori,.,Asmnutun 2,000000 LIMO N/A 03,12/13 03/12I18 03/12/18 ]II 1_IO 2000,000 2009,680 B"ofNY Mellon 1997,20D
Fi aneing Corpor..n(FICO) 500,000 980% N/A 04/0N88 04/0648 N/A 736 9.8M° 499,594 59q794 Bank of America 588967
Federal Farm Credit Bank 500,000 103% N/A 02/24/16 02/12/19 N/A 1048 103% 499,850 500,440 Balk of NY Mellon 0
1500,000 3,496444 3598,789 1,094.112
Total lm'ested Cash S 122,366.630 5 121446606 S 123,562,616 5 I06,919,640
Current Quarter Portfolio Yield 09Tn 0.65%
Betuhmark Yields. Prror Quarter
12 Month LAIF Avnrge U 34% Portfolio Yield
2 Year Co.[an1 Ma[wn Treasury 0 74%
9nterest Income for the Quaver Et ng 03,'31/2016 209,329
Q
TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
March 31, 2016
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 123,446,606 $ 123,446,606
$ 123,446,606
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency-Bank of America 1,999,909 N/A N/A open None 1,999,909
Downpayment Assistance(Housing 33,933 0.15% N/A open 0.15% 33,933
Fund)-Bank of America
Workers Compensation-Bank of America 46,489 N/A N/A open None 46,489
General Liability-Bank of America 30,000 N/A N/A open None 30,000
1930's General Store Museum-Bank of America 11,674 N/A N/A open None 11,674
On-Line Credit Card Fire Inspection Fees 139,774 N/A N/A open None 139,774
-Bank of America
On-Line Credit Card Transportation Permits 7,089 N/A N/A open None 7,089 2,272,816
-Bank of America
Total Cash Deposited $ 125,719,422
treasrep
04/20/2016
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
March 31, 2016
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Raiine Maturity to Maturity Cost Basis Total Market Value Source Market Value
1998 Airport PFC
Invesco Government&Agency Private 981,168 variable AAA open 0,01% 981,168 981,168 Bank of NY Mellon 1,376,601
981,168
2006 Airport PFC
Invesco Government&Agency Private 1,649,785 variable AAA open 0 02% 1,649,785 1,649,785 Bank of NY Mellon 1,630,010
1,649,785
2007 Refunding Lease Revenue Bonds
First American Government Obligation 1,070,869 variable AAA open 0.01% 1,070,869 1,070,969 US Batik 0
1,070,869
2007A&B'I'ax Allocation Bonds
First American Government Obligation 368,278 variable AAA open 0.01% 368,278 368,278 US Bank 19
368,278
2007C Tax Allocation Bonds
First American Govemment Obligation 340,886 variable AAA open 0.01?b 340,886 340,896 US Bank 16
340,886
2008 Airport PFC Refunding
Invesco Government&Agency Private 609,698 variable AAA open 0 02% 609,698 609,698 Bank ofNY Mellon 609,588
609,698
2012 Downtown Revitahmtion Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,191,717 variable AAA open 0.0Pa 3,191,717 3,191.717 Bankof NYMellon 3,191,142
3,191,717
tre 'ep
wi20/2016
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
March 31, 2016
Par Coupon Yield Adjusted Category (memo only) Prior Our.
Value Rate Ratio e Maturity toMaWrity Cost Basis Total Market Value Source Market Value
2012/2014 Convention Center
First American Government Obligation 12,678 variable AAA open 0.01% 12,678 12,678 US Bank 12,677
12,678
2014 Merged Project I&2/Housing Refunding
First American Government Obligation 470,010 variable AAA open 0.01% 470,010 470,010 US Bank L333
470,ut0
2015 Reassesment District No 2015-1
First American Government Obligation 274,334 variable AAA open 0.01% 274.334 274,334 US Bank 288,038
274,334
2015 Local Measure A Salo Tax
First American Government Obligation 1,840,402 variable AAA open 0.01% 1,940,402 1,840,402 US Book 6,596,180
1.840,402
2015 Refunding lease Revenue Bonds
Cash 3 3 3 Bank of NY Mellon 3
[nvesco Government&Agency Private 222 variable AAA open 0 01% 222 222 Bank of NY Mellon 222
First American Government Obligation 3,604 variable AAA open 0.01% 3,604 3,604 US Bank 3,604
3,830
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 Century Golf 1,378 207 N/A N/A demand None 1,378,207 1,378,207 Century Golf 394,855
1.378.207
Totals 12,908,739 t2,908,738 $ 14,821,166
to asrep
04/10/2016
TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
March 31, 2016
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 96.84%
1 year to 3 years N/A 50.00% 3.16%
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% 0.65%
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% 32.78%
Money Market Mutual Funds - More than I Year N/A 25.00% 4.01%
LAW N/A 100.00% 32.94%
U.S. Government Agencies N/A 60.00% 25.11%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
tree rep
04/20/2016
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