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Home My WebLink About3/2/2016 - STAFF REPORTS - 2.D. �O�pPLM Sp9 .,y Y N 4 yC n� O RO cA`'F°"N,P City Council Staff Report DATE: March 2, 2016 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF JANUARY 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 January 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 $121,088,554 plus $14,321,444 bond issue capital projects, reserve and debt service funds. There is an additional $2,309,331 in various miscellaneous/trust accounts. The market value of the invested cash is $121,160,821. RECOMMENDATION: Receive and File Treasurer's Investment Report as of January 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. 11-EM NO. V City Council Staff Report March 2, 2016— Page 2 Treasurer's Investment Report as of January 31 , 2016 The weighted average maturity (WAM) of the portfolio is 255.65 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 January 31, 2016 On Call Deposits Adiusted Basis Category Total Percentage Checking Account $ 7,756,533 CalTrust ShortTenn 37,424,769 CalTrust MidTerm 4,946,358 State Pool 40,666,199 $ - 90,793,860 74.98% Short Term Investments (1 year or less) U.S.Gov't Agencies 26,497,500 Time Deposits 400,000 26,897,500 22.21% Medium Term Investments (1 yearto 3 ears) U.S.Gov't Agencies 2,998,594 Time Deposits 398,600 3,397,194 2.81% Long Term Investments (3 year to 5 years) 0 0 0.00% $ 121,088,554 100.00% treasrep 02/17/2016 0 W Investment Allocation 0 7% City of Palm Springs Total 0 4.1% $121,088,554 ■ State Pool (LAIF) ■ CalTrust ShortTerm ■ U.S. Gov't Agencies ■ CalTrust MiclTerm ■ Checking Account RV Time Deposits treasrep 02/17/2016 CO A TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS January 31,2016 par Coupon P.", Matunty F.,,N-1 0,1,..l Day, Yld AN.,ued Category (mema only) Prior Qur Value Bat, Nara¢ Lao, Date Call Date 19_ail.u' to Maturity osC IBao Tonal M.LelVaNN Source Marker V4lue Checkulg B.J o1.MNrica 8 7,756,533 N:A AAA demand NA I None 7,756533 5 7,716,533 Ba,k at America 3.242,684 ca1'IYoaa SLanTerm 37,000,0W varable N'A demand NA 1 0.60% 37,424.769 37408,045 C.ITaat 37,354,546 Caff.,MOTenn 4.5W.000 caiable N/A denvtd NA 1 0.94Yd 4,946,358 4,935420 C'alTmIr 4911,988 L,.IA,yImesFund L,VFI 405011S" 'au.ble NA cieNaM MA 1 044600 40,666,199 40,633,136 LAD 40.598,872 99,756,533 %.793.860 W733,133 85371,128 Shun Tam loo.uN nls 1 1 yearode.I U.S.Goal Agency Securincs FMeml Hon.Loan Mongage C'orporauo. 0 1NYYo NA 07/29,15 07,29,20 01.29,16 0 1.5010 0 0 Bank afNY Mellon 1,000400 Fe,leai Fama Credit Ban 500,000 1.0911 N/A 05,26i15 022618 02111:16 717 L091. 500000 500,000 Ban of NY Mellon 44"l,9111 Fudc l Naunal Mongage Aesupiaion ?0011,11110 10396 NA 05,21,13 05i21,18 02,21,16 841 103% 2,000INp 2,000,020 Ban ofNY Melba 1.987.340 Fedeal Nalional Mongage A,cu,ialicn 500.000 1W°o NA 05122'15 O222,18 02/22/16 713 L00% 500.000 499.630 Ban urNY Mellon 500,1111 Federal Nalional Mongage Asmcali0n 1,00110110 120,e N:,A 0J29t15 0217%18 02,27,16 758 120% I,OW,WO 1.000,050 BaM ofNY Mellon 1.001,180 Fedeal Lana,Loan Ban 1,000,000 140, N/A 03/04,15 09:04,18 03A16 947 140% 1,000,W0 1,000,180 Ban ofNY Melba 994,9N Federal Humx Loan Mongage Corporation 1,000000 125% NA 03,09:15 03:09,18 03,09,16 768 115% LWODW L000.760 Bail:ofNY Mellon 1000,77U Federal Hona Loan Bart: I,W0,000 080°o NIA 0612,13 06,12,18 03,12,16 963 0SIM Lf1W,000 LOUD,100 Bank ofNY Mellon 998.1 to Fede,.l no.Loan Mongage Coly.w. 2.000,000 1.009b N/A 09/20/12 09/211,17 03A016 598 1WY 2.".000 2.002240 Bun ofNY Winn 2,003,140 Federal Noliuwl Mongoge Mmcarian 2,000,000 1.07% N/A 09,127,12 09,27,17 03I27,I6 605 1.07% 2,Og1,000 2,00g500 Ben ofNY Mellon 1,995,500 Federal Huns Lou.Mongage Corporation 2,000.000 15Ne N/A 01,19,16 01:29Q1 04:29,16 1,825 150Yo 2,000.01W 2,002.460 6nn of NY Mellon 1) Fedeal Hone L..Mongage C.W.IuN 2.000,000 1.W, N/A 01,29,16 01,2921 04i29,Ib 1,825 11NNo 2,"000 2,000,780 Ban ofNY Mellon 0 Federal Huns Loan Ban 1000000 125% N/A 07,29,15 07,29,20 04:29,16 1,641 125'Yo 997.500 1002,060 Ban ofNY Mellon I,0011,250 Federal Hon,Lou.Man,,C.r ,aa.n 500,0W L65°d N/A 10:29,15 10,29,20 0,2916 1,733 1.65% SIIOmo 5W,690 Bun ofNY Mellon 50U.035 Federal Nalional Mongage Mmcial.n 4,000000 103%e N/A 01,30:13 0130,18 04,3016 730 1.03% 4,0W,000 4,000,480 Ban orNY Mellon 391:11,880 Federal Na11ma1 Mongage Aaanciaion 500,111111 1.125% NA 05,10i15 0518,18 O5,18,16 838 1121% 500.000 500,46, Bon ofNY Mellon 5.0,045 Fedeal Nanutul Mongage A,o,iaf.n 500,000 100% N/A U6:15/I1 12/15/17 0615,16 684 1WYo MOM 500,210 Ban ofNY WIN, 4Y8,320 Federal Hmne Loon Ban 2,000,000 IJdfo N/A 01,27,16 07,27,18 07,26Q6 908 13N. 2'Ipg111111 2,003.400 Bon ofNY Mellon 0 Federal I luns Loan Band, 1.000,000 1.25% N/A 01/29,16 01,29,21 0729,16 1,825 1.25% LOW.000 1,000.400 Book of NY Mellon 0 Federal HmneI a.Mongage Coynrauon 1000,000 150°N NA 01'9,16 01,1920 07,29,16 1459 ISOoo 1W0.000 1001,900 Han of NY Mellon 0 Federal l laue Loan Ban 1.000.000 125% NA 072915 117/29,20 07,29,16 L641 125% I.W6.000 1002111 Ban ofNY Mo11o. 100U.240 26500,000 26497,100 26,518,855 19,459.530 .eurep 0217:•_fil. Q cn TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS January 31,2016 Pm Coupon Pnroham Maturity F.,N-1 Opnonal Da, Yield Adjwmd Ca"., lmc.only] Yrbr Qcr_ Value Nine R.I. ine Date Dale CAl Dg{ I bo Io Mamrily Cml B., Ibml Mork,Value Source MuAe WU, SLon Tani Invcsllrcins 11 ytpr or kssl Thin Daposils GB Cap Mail Bank CD 200,000 1.35% N/A 73612 7i20/16 N,A 121 135% 2W,OW 100.570 Da of NY M<Ilon 200,614 GE Cap Bank CD 200.W0 1.35% WA 72d12 7,20,16 N,A 171 135% No.000 200.90 B.ok Of NY MNIOn 21111,614 400,0M1 41111,000 401,139 401.228 McJium Term lnreslnenu 1 I ytano 3 4xuRl Tmle IXpnsns Goldmm.Sachs Bank CD 200.0W 180% NSA 7,25,12 2/25117 NIA 141 1Wrl. 198,600 102311 Bank of NY Mellon 201979 Doc ..r Bank CD 200MIN 190% NA 726,12 7G16I17 N,A 542 1.109e 200,000 201,012 Bank of NY Mellon '01,666 400,000 398,600 404,339 403.642 US.Goc'I A3mcy S,urltks Fd—1 Funn Cmdil Ball: 500,000 0.625". N:A 0 "115 0511,/17 0511,19 477 0.6310 500.000 499,4% B,d of NY Mellon 4974' Fedml Na0oml Mongage A ocialino '_,WO,OW 1,101. NIA 03/12,13 03'I2/19 03,12,18 221 1.]W 2,1100,000 2.008,5W Bald:of NY Md1up 1,99t100 Fvwnchlg Coryomliun 1F1COj 500000 9.80% NA 04L06188 04,OS98 N,A 296 9.80°% 498,594 595,W Bank of America 194.973 3,W ,000 2,99N,594 3,101,351 3.090,118 Total ho cstcd Cash S 120,056,133 S C1.088354 S 121,160.821 S 1116,925646 r s:ep 0'17'016 d TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS January 31, 2016 Yield Adjusted Par Value Coupon Eating Maturity to Maturity Cost Basis Category Total Total Invested Cash S 121,088,554 $ 121,088,554 $ 121,088,554 Miscellaneous Accounts Petty Cash 3,950 N/A N/A open None 3,950 Trust&Agency-Bank of America 2,001,217 N/A N/A open None 2,001,217 Downpayment Assistance(Housing 33,924 0.15% N/A open 0.15% 33,924 Fund)-Bank of America Workers Compensation-Bank of America 130,260 N/A N/A open None 130,260 General Liability-Bank of America 27,700 N/A N/A open None 27,700 1930's General Store Museum-Bank of America 11,597 N/A N/A open None 11,597 On-Line Credit Card Fire Inspection Fees 95,514 N/A N/A open None 95,514 -Bank of America On-Line Credit Card Transportation Permits 5,168 N/A N/A open None 5,168 2,309,331 -Bank of America Total Cash Deposited $ 123,397,884 treasrep 02/l7/2016 O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS January 31, 2016 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Ratine Maw to Mamritv Cost Basis Total Market Value Source Market Value 1998 Airport PFC Imese.Govemment&Agency Private 856,492 variable AAA open 0.01% 856,492 856,482 Bank of NY Mellon 1.376.601 856,482 2006 Airport PFC Invesco Govemment&Agency Private 1.403,569 variable AAA open 0.02/0 1,403.569 1,403.569 Bank of NY Mellon 1,630,010 1,403,569 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 19 variable AAA open 0.01% 19 19 US Bank 19 19 2007C'fax Allocation Bonds First American Government Obligation 16 variable AAA open 0.01% 16 Ib US Bank 16 16 2008 Airport PFC Refunding Inveeco Govemment&Agency Private 609.609 variable AAA open 0.021% 609.609 609,609 Bank of NY Mellon 609.588 609,609 2012 Downtown Revitalization Lease Revenue Bond Reserve lrr,cwo Govemment&Agency Private 3.191,250 variable AAA' open 0.01% 3.191.250 3,191,250 Bank of NY Mellon 3,191,142 3,191,250 treasrep 0J17i2016 i TREASURERS MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS January 31, 2016 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value 20112014 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 1,333 variable AAA open 0.01% 1,333 1,333 US Bank 1,333 1,333 2015 Reassesment District No.2015-1 First American Government Obligation 288,040 variable AAA open 0.01% 298,040 288,040 US Bank 288,038 288,040 2015 Local Measure A Sales Tax First American Government Obligation 6,596,214 variable AAA open 0.01% 6,596.214 6,596,2t4 US Bank 6,596,180 6,596,214 2015 Refunding Lease Revenue Bonds Cash 3 3 3 Bank of NYMellon 3 Invesco 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 716.877 716,977 Deutsche Bank 716,877 716.877 Funds With Century Golf 644,530 N/A MA demand None 644.530 644,530 Century Golf 394,855 644,530 Totals 14,324,444 14,324444 $ 14,821,166 vevrep 02/17,20L6 Q TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS January 31, 2016 By Maturity: Minimum Maximum Current Mo. 1 day to 365 days N/A N/A 97.19% 1 year to 3 years N/A 50.00% 2.81% 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% 0.66% 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% 30.91% Money Market Mutual Funds - More than 1 Year N/A 25.00% 4.08% LAIF N/A 100.00% 33.58% U.S. Government Agencies N/A 60.00% 24.36% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% treasrep 02/17/2016 O