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Home My WebLink About2/3/2016 - STAFF REPORTS - 2.F. DOE?A L M Sp4 iy a V N r ' C411F000 City Council Staff Report DATE: February 3, 2016 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF DECEMBER 31 , 2015 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 December 31, 2015. 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 $109,520,420 plus $14,821,166 bond issue capital projects, reserve and debt service funds. There is an additional $2,208,864 in various miscellaneous/trust accounts. The market value of the invested cash is $109,462,608. RECOMMENDATION: Receive and File Treasurer's Investment Report as of December 31, 2015. 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. City Council Staff Report February 3, 2016— Page 2 Treasurers Investment Report as of December 31, 2015 The weighted average maturity (WAM) of the portfolio is 190.97 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 �Lp� Geoffrey S. Riehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report UZ CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS December 31, 2015 On Call Deposits Adiusted Basis Category Total Percentaee Checking Account $ 3,242,684 CalTrust ShortTerm 37,408,604 CalTrust MidTerm 4,942,531 State Pool 40,631,907 $ 86,225,726 78.73% Short Term Investments (1 year or less) U.S.Gov't Agencies 19,497,500 Time Deposits 400,000 19,897,500 18.17°/u Medium Term Investments (I year to 3 ears) U.S.Gov't Agencies 2,998,594 Time Deposits 398,600 3,397,194 3.10% Long Tenn Investments (3 year to 5 ears) 0 0 0.00% $ 109,520,420 100.00% treasrep 01/26/2016 t7 W Investment Allocation 3.0% City of Palm Springs 0.7% Total $109,520,420 ■State Pool (LAIF) ■CalTrust ShortTerm ■ U.S. Gov't Agencies ■ CalTrust MiclTerm ■ Checking Account ■Time Deposits treasrep 01/26/2016 c ,o. TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS December 31.2015 No C9upon P 6. Maturity Fw"M Optional Days Yield Ad)uded Cm" (memo oNyl Prior QO YBIV£ Bm9 KB U95f 2d Coll Dare oMnturm to1Avur.G Co%Bw I9.W Markayaue $Q9f5g Market value Checking-Book ofAmeriea f 3,242,684 NIA AAA den N/A 1 None 3,U2.04 S 3,242,6G B9nk of Amoma 6,569.161 Cafrrol WaTmm 3/,OW,000 variable WA demand NIA 1 0.56% 37,408,604 30,354,546 Caff.t 31,308,W1 Ca .hlufr r. 4,5W," ywi" NIA demand NIA 1 ogre. 4.942,531 4.911999 CMTrwt 6,9 .834 Lod Agm9y lnvml FW(LA ) JO,SW,WO variable NIA demand NIA 1 0400% 40.631,907 40.598,972 LA 38,593,131 95j 2,6H 86,225.726 86,108,090 $5.371.128 Shod Term Im9 is (I yeor or kss) U.S CioJt Agency Securilda Faded Home Low Nonage Coiwralion 0 1.WA NIA 01/11/13 01/11I18 1wl 1/15 0 1,W. 0 0 Bank of NY Melon 994,3M Federal home Low Book 0 100'1. NIA 09/18/12 09/18/17 10A4/15 0 1.00% 0 0 Bank of NY Mellon 1999,360 Fedmol Home Low Mortgage Cowtation 0 1.03% NIA 01/16/13 01/16/18 W16/15 0 1,05% O 0 Bank of NY Mellon 2,W0820 Faded Fum Cretin Bwk 0 1.M. NIA OV20113 omwis IB23/15 0 1,12% 0 0 Book of NY Mellon 2.OW,220 Federal Farm Credit Bwk 0 098% NIA 05/27/15 1139/17 IOf23/15 0 09s% 0 0 Bank of NY Mellon 50,010 Federal 3lome law MongagC Coryomlion 0 1.15% NIA W25/13 0435/18 10/25/15 0 1,15% 0 0 Bank afw Mellon 1"6,%0 FederM home Low Bank 0 1�. NIA 01/30/13 013wis IW30/11 B LW% 0 0 Bank of NY Mellon 998,110 Federd Home Loan Ba 0 1.05% N/A 0IVD oviv18 IWV15 0 1,05% 0 0 Book ofw Mellon 999,920 Fed.M Hama Low Mongg<Corp... 0 LQ3% NIA 0921/15 0531/20 11/23/I5 0 1625% 0 0 8a of NY Mellon I,W1,810 Federal Home Law Bank 0 0.815% N/A 05/29/13 m9/18 11/30/15 0 0175% O 0 Bonk of NY Mellon 1,001,090 Federd k3onte law Mortgage Coporaion 0 1.9036 NIA 09/04/15 09 0 12104/15 0 1.W4 0 0 Boo of NY Mellon 5W,815 Federal Farm Credit Bak 5w,OW IWA N/A M6/15 Molls OINI/16 788 1t SKM 497.910 BW of NY Mellon 5w,OW FederM Home law Bwk 1,000,000 125% N/A 01/29/15 073930 01/29/16 1,672 1,25% 997,50 I,OW,250 Book of NY Mellon 1w2,000 Fa ,W home LowMortgage Corportion 1,000,000 1.30% NIA OM9/15 0139M 0139/16 1692 1.50% 1000000 I,w0,4W Bwk of NY Mellon 1W3,1W Faded Ho.r Loan Mortgage Corporaion ow,w 165% N/A IM9/15 im920 01/9/16 1,7M 1.65% 5W,W0 5W,035 Bank of NY Mallon 0 Fe&W Nelianal Mongage Auodazron 4pW." 1.03% WA 018WI3 OIJ30/18 01/30/16 761 103% 4,0Og000 1,980,880 Ba of NY Mellon 4,W3,OW Faded Na110nM hbn,W Demon 2,WIM 1.03% N/A MUD MUM 02Q1/16 892 1.03% 2,ow'm 1.987,340 Book of NY Mellon 1,994,440 Federal NationM Mortgage Aamciation SOD,000 IW. N/A 05/22/15 0232/18 0MV16 784 IWA SW,WO 5W,110 Bookof NYMellon 5W,0g5 Federd Nallnnd Mortgage Aaeocwmn I,"," 1.20% WA 0267/15 OV27/l8 OM9/16 789 1.20Y. 1,000,000 I,W1,180 Book of NY Mellon 1,W1,5W Faded Home Loan Bank 1,WO,WO ICOSS N/A WIOU15 MOAB 03/04/16 978 140'. I,OW,000 994,900 Bwkof NYMCIlon I,W-910 Fded Home loan Mortgage Corpurmiun 1,000,000 1.25% N/A 03M9/15 03/09/l8 03N9/16 999 In% 1,W m I.M.M Bank of NY Mellon I,W3,260 Fled Home Low Book 1,"," 0.W. N/A 06II2/13 06/IL18 03/12/16 894 0W4 1,000,WO 998,110 Bookof NYMellon [,0w,940 FWerM Home tow Mortgage Corporation 2,OW,000 I.00Y. N/A WW12 W/20/19 0320/16 629 11 A 2,W0" 2,W3,540 BwkofWWIIon 2,W3,360 FMerd Nati.r Mortgage As... 2,w0,w0 1.M. N/A M7112 09121/17 03/29/16 636 1.07A 2,000,WO 1,995,3W Bankof NYMellon 2,M,] Faded Notiod Mortgage Asoowtmo 3w,000 1.125% N/A 05I2N15 05 V18 091&16 869 1.125% 5w,11w 5w,045 Ba of NY Mellon 500.915 Fe ,e Neti.W Mortgage 0.asociazm S00,W0 I N/A 136/1 511 5 IV15/15 WIV16 715 1.WA 500.W0 498,320 BaN.f NYMellan 501,%5 Faded Some low Bank I.OW,OW 1.25% WA 07129/15 07/29/20 00/2936 1692 LM% Ip00,000 I W0,240 Bank of NY Mellon I.Wz 20 19,5w,W0 19,497,5W 19.459,330 33,016,1W Irtenep U 1126Q014 4'1 TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS December 31,2015 Pur C.u'. Purchw Mamriry F.Noa Optwnd Bays Yield A$uned Category (memo only( No,Ql,. 3'alue Rae B81u8 Vffi D" Cdl.Da, S9�N Ht.1 1,W y Con B. Tpl3( Mark,Value SoUFM Mvkn Value Shan Tum Inveummn (I you or lesal T.Deposns Cap Radl Bade CD 200000 1.35% NA 7/20/12 7,20116 NIA 202 135% 20,000 200,614 B of NYMoKon 201.203 Cap Bank CD 200,000 1.35% NA 7/20/12 MW16 N/A 202 1.35% 200.000 200,614 Bad of NY Mellon 201.203 400,000 4N,000 401.228 402,406 e n, umveaz T10 3 enn n 1,n:7 n 1 yearo Time Do., Cnldmun snM Bank CD 200,000 1.W. N/A 725112 725117 NIA ST2 1.8W. 198,600 201977 Bank of NY Winn 203923 Dixoves BaN CD 200.000 1.1M. NA 7/16/12 ]/2N1] N/A 573 1.'!W. 2W" 201666 Bank of NY WBan 203.363 400000 398,600 403.642 40'/,087 U.S.Go,l Agency S,uriuea Federal Farm Creda Bank 5w-A 0621% NA 0522115 0512V17 MV17 As 0.63% 500,000 497.445 BN of NY Mellon 499,945 Federal Naiiond Nonage Assonunn 2,000.000 LIMA N/A 03112/13 03/12/IS 0311V18 802 LUM. 2.000.000 1997,700 Bank of NY Mellon 2012.440 Fin.vMC.,onaion(FICO) 500,M SAW. N/A 04/06'88 04/ 18 NA 927 SAVA 498,594 594973 Bank of Amerce 610,053 3,M,M 2.998,594 1,090.118 3,122,433 Told lnvened Cash S 108,542,684 S 109.520420 9 109,40.608 f 121,319.249 Cunmt Quumr Pon h.Yidd 065% 066Y. Benchmark Yields. Purr Quarter 12 Month LMF Average 0.29•. Ponflio Y.14 2 Y.Constant M a nity Treasury 0.69°. Mreresr Income for,h Q.,Ending 12/3IMS 175,815 •Caoss enumt krone deduction oFarvestmens mhnu f s easrep oi,2612u16 a� v♦ TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS December 31, 2015 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 109,520,420 $ 109,520,420 $ 109,520,420 Miscellaneous Accounts Petty Cash 3,950 N/A N/A open None 3,950 Trust&Agency-Bank of America 1,999,517 N/A N/A open None 1,999,517 Downpayment Assistance(Housing 33,920 0.15% N/A open 0.15% 33,920 Fund)-Bank of America Workers Compensation-Bank of America 44,314 N/A N/A open None 44,314 General Liability-Bank of America 28,947 N/A N/A open None 28,947 1930's General Store Museum-Bank of America 12,287 N/A N/A open None 12,287 On-Line Credit Card Fire Inspection Fees 81,382 N/A N/A open None 81,382 -Bank of America On-Line Credit Card Transportation Permits 4,547 N/A N/A open None 4,547 2,208,864 -Bank of America Total Cash Deposited $ 111,729,285 treasrep 0I/26/2016 C I TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE,DEBT SERVICE & RELATED FUNDS December 31, 2015 Par Coupon Yield Adjusted Category (memo only) Prior Qn. Vale am Rain Maturity to Maturity Cost Basis Total Market Value Source Market Value 1998 Airport PFC Invesco Government&Agency Private 1,376,601 variable AAA open 0.01% 1,376,601 1,376,601 BankofNYMellon 1,194,121 1,376,601 2006 Airport PFC Invesco Government&Agency Private 1,630,010 variable AAA open 0,02% 1,630,010 1,6X010 Bank of NY Mellon 1,263,405 1,630,010 2007 Refunding Lease Revenue Bonds First American Government Obligation 0 variable AAA open 0.01% 0 0 US Bank 275,869 0 2007A&B Tax Allocation Bonds First American Government Obligation 19 variable AAA open 0.01% 19 19 US Bank 19 19 2007C Tax Allocation Bonds First American Government Obligation 16 variable AAA open 0.01% 16 16 US Bank 16 16 2008 Airport PFC Refunding Invesco Government&Agency Private 609,598 variable AAA open 0.02% 609,588 609,588 Bank of NY Mellon 609,528 609,588 2012 Downtown Revitalization Lease Revenue Bond Reserve Invesco Government&Agency Private 3,191,142 variable AAA open 0.01% 3,191,142 3,191,142 Bank of NY Mellon 3,190,926 3,191,142 treasrep 01/26/2016 O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS December 31, 2015 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rain 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 12,671 12,077 2014 Merged Project 1&2/Housing Refunding First American Government Obligation 1,333 variable AAA open 0.01% 1,333 1,333 US Bank 1,332 1,333 2015 Reassesment District No.2015-1 First American Government Obligation 288,038 variable AAA open 0.01% 288,038 288,038 US Bank 288,026 288,038 2015 Local Measure A Sales Tan First American Government Obligation 6,596,190 variable AAA open 001% 6,596,180 6,596,180 US Bank 6,596,098 6,596,180 2015 Refunding Lease Revenue Bonds Cash 3 3 3 Bank of NY Mellon 3 Invesco Government&Agency Private 222 variable AAA open 0.01% 222 222 Bank of NY Mellon 1,538 First American Government Obligation 3,604 variable AAA open 0.01% 3,604 3,604 US Bank 0 3,830 Chevron/CoGea Lease Proceeds Cash 716,977 N/A N/A demand None 716,877 716,877 Deutsche Bank 716.877 716,877 Funds With Century Golf 394,855 N/A N/A demand None 394,855 394,855 Century Golf 557,314 394,855 Totals 14.821..166 14,821A66 S 14,707,642 ueaxrep 01/26/2016 0 TREASURER'S MONT ILY REPORT CALCULATION OF INVESTMENT LIMITATIONS December 31, 2015 By Maturity: Minimum Maximum Current Mo. 1 day to 365 days N/A N/A 96.90% l year to 3 years N/A 50.00% 3.10% 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% 0.73% 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% 34.16% Money Market Mutual Funds -More than I Year N/A 25.00% 4.51% LAIF N/A 100.00% 37.10% U.S. Government Agencies N/A 60.00% 20.54% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% treasrep O1/26/2016 h O