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Home My WebLink About4/6/2016 - STAFF REPORTS - 2.G. a�,?ALMSAP iy G� u w 41 'F0 City Council Staff Report DATE: April 6, 2016 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF FEBRUARY 29, 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 February 29, 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 $123,363,514 plus $12,142,602 bond issue capital projects, reserve and debt service funds. There is an additional $2,299,192 in various miscellaneous/trust accounts. The market value of the invested cash is $123,926,583. RECOMMENDATION: Receive and File Treasurer's Investment Report as of February 29, 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. REM NO. City Council Staff Report April 6, 2016— Page 2 Treasurer's Investment Report as of February 29, 2016 The weighted average maturity (WAM) of the portfolio is 274.08 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 ��// i�ii G, Geoffrey S. Kiehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report r_2 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS February 29, 2016 On Call Deposits Adiusted Basis Category Total Percentage Checking Account $ 3,509,395 CalTrust ShortTerm 40,443,101 CalTrust MidTerm 4,950,274 State Pool 42,666,199 $ 91,568,970 74.23% Short Term Investments �'i (1 year or less) U.S.Gov't Agencies 27,497,500 Time Deposits 400,000 27,897,500 22.61% Medium Term Investments (I year to 3 ears) U.S.Gov't Agencies 3,498,444 Time Deposits 398,600 3,897,044 3.16% Long Tern Investments (3 year to 5 years) 0 0 0.00% $ 123,363,514 100.00% treasrep 03/17/2016 O w Total Investment Allocation lraep $123,363,514 03 1 ZO1§ 2.8% City Of Palm Springs 4.0% O.§« y.� .y.2 « State Pool (L m) < / z 3$« 251# m C|T ua ShortTerm 'INN \/ » U.S. Go\ Agencies 2 \ @Gamma UdTerm ) » Checking Account zza% ■ Time Deposits 0 a TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS February 29.2016 Par Coupon Pwehnu Maturity F..lNna Options Doya YAd Adjonld Category (memo only) Prior Ql,. Yalu Itnte Bauie Dale We C�h BD,t tQ Maluilk IQ Mourn Cl,gB3e Iola Market Vol., ; uS£ Mln.k�,%lt]Ye CAeekutg Badof Ananis S 3,5N,395 N/A AAA demand N/A I N. 3,509,395 8 3,50$395 Baok of Aloenca 3,242,684 CgTrust Stonierm 40,000,000 variable N/A demand NA 1 0.651. 40443,101 40,426,377 CalTro,a 37,354,546 CelTruet AWTTenn 4,500,000 v.,loblo NIA demand N/A 1 0.98% 4.950,274 4,939.335 CalTrusl 4911988 Locol Agency loves)Fund 3LMF) 42,500,000 variable N,A demand N/A 1 00467% 42666.199 42,631,510 LAIF 40,598,372 90,509,395 91,568,970 91,506,617 85,37L 128 Sbov Turn Invesinents 1 I ye no le") f1S_C,t Agway Secuouos FNeral Home Loan Moo,.,Coryerodnn 0 150°h N'A 07/29,115 0I29R0 0129,116 0 150% 0 0 Bank of NY Mellon 1,000.400 Federal Home Loan Mortgage Coryoalion 0 100% NIA 05/22111 0212919 W/22/16 0 100% 0 0 Bank of NY Mellon SW,110 Federal National Mongage AsAemwo 0 120% N/A 02/27/15 0212W18 02/27/I6 0 1.2M.n 0 0 Bank of NY Mellon I,001180 Federa Farm Credn Bank 5W,W0 109% N/A 0526,115 OL26/18 03/01/16 728 1.09% 51111,000 499,530 Bank of NY Mell9n 49T910 FLticral Hoine igan Bank I CW,C 1 40% NIA 03/04/15 09/04/18 03/04/16 918 1 40% 1 000,000 1,000.020 Bank of NY Mellon 994,900 Federal lbme Loan Mortgage Coporaion I,mow 1.25% N/A 03,09115 03/09/I8 03/09/I6 739 1.21% 1000,000 1,00o,160 Bad of NY Mellon 1,000,770 Federal Home Loan Bank I,OOD,000 100% N/A 06/12/13 06112/I8 03/11,16 834 1.00% 10W,000 1.000,030 Bank of NY Mellon 998,110 FNeal Home Loan Mon,nge Corpoatinn 2,W,1100 10096 N/A 0920,112 09,120/17 032W16 569 1.00% 2,0 .00o 2,000.860 Bank of NY Mellon 2,003,540 Federal Nations Mongage Aswualien IWO,OW 107o N/A 09127/12 09127,17 03127,16 576 1.07!eo 300,0W 2,000,220 Bank of NY Mellon 1995.500 TOdcral Hain T.oan Mortgage Corporation 2,000,000 150% N/A 01/29/16 01,129,121 W129/I6 1,7% 150°., 2,000,000 2,001920 Bad of NY Mellon 0 Federal l brae Um Mortgage Corporation 1,M,000 1.00% N/A 0129,116 012921 01/29/16 L. 1.00% 2,000,000 2,000900 Bank of NY Mellon 0 Feral Home Loan Bank IOW,INW 125% N/A 07/29/15 07/2920 N/29/16 1,612 1.259, 997,500 L001520 Bad of NY Mellon IIl0o,250 FNeral Home Loan Mortgage Caryomlion SW,OW 165% N'A 1029,115 1029/20 o429/I6 1.7N 1.65% 500,000 500,510 Bank of NY Mellon 500.035 Fctletl Nauonal Mongage Assonanon 4,M,000 1.03% N/A 01.30/13 01/30/18 03/30/16 701 lop. 4,000,000 4,000,290 Bad of NY Mellen 3,980890 Federal Nations Mortgage Aswciatma Nw," 1_125% N'A 0520/15 05/18/I8 05A&16 809 1125% 508000 500,330 Bank of NY Mellon SW,045 Federal Natrona Mortgage Aswnaen 20",lW 103% N/A 05!21/13 052I/I8 0521,16 812 1.0346 2,000,000 2,000,060 Bank of NY Melon 1987,340 Federal Home Loan Mongage Iorynrainn SW,000 100% N/A 06115/15 11/15/17 06/Ib16 655 1.00% 500,000 So0,165 Bask of NY Mellon 490320 Federal Home Loan Bun4 2,nM,MO 130% N/A 01/27216 07/27/18 0727,16 879 1.3M. 2.000,000 2,003,060 Bank of NY MdWn 0 Federal Home Loan Bank 1,000000 125% NN'A 01/19116 01,2921 0729/16 1.796 1.25% 1000,000 1,000690 Beak of NY Mellon 0 Federal lbme Loan Mortgage Corporation 1,0W,000 1.50% N/A 0129,116 01/2920 0729/I6 1,430 1.5WI. 1000,000 1,001950 Benk of NY Mellon 0 Fedefal Home loan Bad I0W,W0 125% N/A 07/29115 072920 0729/16 1,612 12594 1,000,0W 1,002460 Bank of NY Mellon 1,000.240 Federal Nations Mortgage Aswcialmn SOOIYJO 1.13% N/A 0226,116 6226/21 0826/16 1,824 1.Bea 50Bo00 1,000000 Bank of NY Mellon 0 Pederal Nakano Mongage MwcaOon 500,000 1.00% N/A 0226/16 0226,11 09/26/16 1,824 10091. 500,OW 500,000 Bank of NY Mellon 0 Federal National Mongage Aswaauon 500,000 140% N'A 0226,116 1126,19 0826/16 1.366 140% 500,000 499,830 Bad of NY Mellon 0 Fcdcal Homp Loan Mongage Coryrot n 500,0W 12514 N/A 02/26116 0126121 0826,16 1,824 135% 500,0W 500,000 Bank 9f NY Mellon G Federal National Mongage Aswcutmn 500,000 150% N/A 0224/16 112420 02/24/17 1,730 1.50% 500,OW 101250 Bad efNY Mellon 0 27,500,000 27497,500 28,015.665 19,459,530 srtp YJ/I22V16 V, TREASURER'S MON"FHLY REPORT DETAIL OF INVESTMENTS February 29,2016 Per CooPon Purchase Ma,oriry Fhss;N.Op,ronal Days Yldd Ad,.,I,d Cweyary Bocnw only) 14ior Qt,. VWoe Ba,z Rowe Dalo Dale Coll ro ,off Co,,Bssis Total Markz V.I.e So— Marko VaWc Short Term Invesrm nts I I year or leaf T,mz De"., GE Cap RelaB Bank CD 200,W0 135% N/A 7/20/12 220/16 N/A 142 1.35% 200,000 200532 Bank of NY Mellon 20U,614 GE Cop BoJCD 200,000 135% N/A 1,2042 7/20/16 N/A 142 135% 200,000 20Q532 Bank of NY Mellon 200,614 400,000 400,000 401,064 451,228 Medium rem,lnves,men,s (I year 10 3 r<arel Time Dzposirs Won.Sods Bank CD 206,000 I8(P,o N/A 7,2511, 225112 N/A 512 1.90°% 198,600 202,WI dank of NY Mdlnn 201,977 Discover Bank CD 200,000 1909E N/A 7,26/12 7,26U NA 513 1.2W8 200,000 201813 Bak of M"Mallon 201666 400,000 398,600 403964 403 642 US Gov't Agency Suor,ties Federal F.,Cmda Book 500,000 0625% N/A 05,22/15 0522/17 N/A 448 0621% 500.000 499,5W Bank of NY Mellon 497A45 Federal Nationd Moagge A,soaal,on 2,000,000 1.10% MA 03/12/11 03112!19 03112//18 242 110% 2,=g000 2,009,680 Bank of NY Mellon I99T700 Finarcu,g Cogwrarion(F3C0) 500,000 9.80% N/A 04/06/88 04/O6/IB N/A 067 9.80% 498,594 5W,TR Bank of Amero. 594,973 Ndersl Farm Crzdu BaM 500,000 103°% N/A 0✓24/16 02/12/19 NA 1,079 103% 499,850 49973W Bank of NY Mallon 0 3,500,000 3,499,444 3,5W,334 3,090,118 IDral lnveated Cash S 122,309395 S 123,363514 S 121926.593 S 108,725,646 Carmt Qostler Pomfolw Yield 094s5 0.65% 1 TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS February 29, 2016 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 123,363,514 $ 123,363,514 $ 123,363,514 Miscellaneous Accounts Petty Cash 3,950 N/A N/A open None 3,950 Trust&Agency-Bank of America 2,005,972 N/A N/A open None 2,005,972 Downpayment Assistance(Housing 33,928 0.15% N/A open 0.15% 33,928 Fund)-Bank of America Workers Compensation-Bank of America 91,715 N/A N/A open None 91,715 General Liability-Bank of America 29,500 N/A N/A open None 29,500 1930's General Store Museum-Bank of America 11,396 N/A N/A open None 11,396 On-Line Credit Card Fire Inspection Fees 116,550 N/A N/A open None 116,550 -Bank of America On-Line Credit Card Transportation Permits 6,182 N/A N/A open None 6,182 2,299,192 -Bank of America Total Cash Deposited $ 125,662,706 treasrep 03/17/2016 C7 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE &RELATED FUNDS February 29, 2016 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate RaR lmm Maturity to Maturity Cost Basis Total Market Value Source Market Value 2012/2014 Convention Center First American Government Obligation 12,677 variable AAA open 0.01% 12,677 12,677 US Bank 12,677 12,677 2014 Merged Project 1&2/Housing Refunding First American Government Obligation 809,209 variable AAA open 0 01% 809,209 809,209 US Bank 1333 809,209 2015 Reassesment District No 20 15-1 First American Government Obligation 360,421,49 variable AAA open 0 01% 360,421 360,421 US Bank 288,038 360,421 2015 Local Measure A Sales Tax First American Government Obligation 1,840,371 variable AAA open 0.01% L840,371 1,840,371 US Bank 6,596,180 L840,371 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 Chevror✓CoGen Lease Proceeds Cash 716,877 NiA N/A demand None 716,877 716,877 Deutsche Bank 716,877 716,877 Funds With Century Golf 895,443 N/A NIA demand None 895,443 895,443 Century Golf 394.855 895.443 Totals 12,143,602 12,143,602 8 14,821,166 neasrep 03/iT2016 Q 00 i TREASURERS MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS February 29, 2016 Par Coupon Yield Adjusted Category (memo only) Prior Qtr, Value Rate Rat�in Maturity to Maturity Cost Basis Total Market Value Source Market Value 1998 Airport PFC Invesco Government&Agency Private 918,801 variable AAA open 0.01 R. 918,801 918,801 Bank of NY Mellon 1,376,601 918,801 2006 Airport PFC Invesco Government&Agency Private 1,526,637 variable AAA open 0.02% 1.526,637 1,526,637 Bank of NY Mellon 1630,010 1,526,637 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 736,537 variable AAA open 0.0195 736,537 736,537 US Bank 19 736,537 2007C Tax Allocation Bonds First American Government Obligation 521,764 variable AAA open 001% 521,764 521,764 US Bank 16 521,7(i4 2008 Airport PFC Refunding - I' Invesco Government&Agency Private 609,637 variable AAA open 0,02% 609,637 609,637 Bank of NY Mellon 609,588 609,637 2012 Downtown Revitalization Lease Revenue Bond Reserve Invesco Government&Agency Private 3,191,397 variable AAA open 0.01% 3,19L,397 3391,397 Bank of NY Mellon 3.191,142 3.191,397 neauep 03/17/1016 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS February 29, 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 1 Year N/A 25.00% 4.01% LAW N/A 100.00% 34.59% U.S. Government Agencies N/A 60.00% 25.13% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% treasrep 03/17/2016 J