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Home My WebLink About1/13/2016 - STAFF REPORTS - 2.T.;OF PALM S''4 iy O V N f CQ<lFOIL City Council Staff Report DATE: January 6, 2016 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF NOVEMBER 30, 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 November 30, 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 $108,342,806 plus $15,633,345 bond issue capital projects, reserve and debt service funds. There is an additional $2,283,745 in various miscellaneous/trust accounts. The market value of the invested cash is $108,347,870. RECOMMENDATION: Receive and File Treasurer's Investment Report as of November 30, 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. 1�� City Council Staff Report January 6, 2016- Page 2 Treasurer's Investment Report as of November 30, 2015 The weighted average maturity (WAM) of the portfolio is 207.73 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 Kill, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS November 30, 2015 j0n Call Deposits Adiusted Basis Cateaory Total Percentage Checking Account $ 7,584,678 CalTrust ShortTenn 34,392,670 CalTrust MidTerm 4,938,857 State Pool 37,631,907 $ 84,548,112 78.04% Short Term Investments (1 year or less) U.S. Govt Agencies 19,997.500 Time Deposits 400,000 20,397,500 18.83% Medium Term Investments ( I year to 3 years) U.S. Gov't Agencies 2,998,594 Time Deposits 398,600 3,397,194 3.14% Long Term Investments (3 year to 5 years) 0 0 0.00% treasrep 12/17/2015 O W $ 108,342,806 100.00% Investment Allocation 0.7r City of Palm Springs Total $108,342,806 ■ State Pool (LAIF) ■ CalTrust ShortTerm ■ U.S. Gov't Agencies ■ CalTrust MiclTerm ■ Checking Account ■ Time Deposits treasrep 12/17/2015 a CREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS No,, ember 30,2015 Pei loupnn purchase Matarty Faxt'Ne:t Optional D., lydd Admated Categon Imema only) Purr Oar Value B= Bpiy Daa Um. Call Oaie toMam }¢alum, Cc,t B. TTow Man k,t l'alue Sour. MarAet Value JOB Coal OaV^vr. t becong - Bank of Ane,na S ],584,a]8 N,A AAA demand N/A 1 None 7,594,fi78 S 7584,618 Bank of Amenca 6.5n9,1nl Caffrusl ShonTerm 34,nnn mal .unahk NIA demand N/A 1 0 14^. 14,392,71) 34,372.132 CalTrust 11"n8 nut Calfrud MmIcrm 450U,WU l.able NA d<oand NA 1 09P. 4,938,857 4918.108 ('al trust 6,9UU,834 Local Agenry lme.t Fund (LA1F) 32500000 vonable NA demand N/A I 0324°. 3701907 37,054285 L41F 39591131 83,584,078 84,548, 1 L' 84,530,003 85,321 I'_s Slott Tana fr vest ri f l leer or lam) US Gorr Agency Securmes Federal Home loan Manage Corporation 0 100•. all WWII 01/1118 10/11!15 773 1001. n 0 Bank of NY Mellon 9(i4320 Federal Hone War Bank 0 100% NA WIIS/13 W,'I8,9] 1ol14,15 658 IOU'. 0 0 Bard of NY Mellon 1999,360 Federal florae Wan Mortgage Corporanon 0 105•. NA 01116,11 or 16118 101N15 228 105'. 0 0 Bard, of NY Mellon 2,0Uu,820 Feder at Fa on redo Bari 0 112% N;A 02120,13 0212619 I0.C111 all 11'_°. U 0 Bari of NY Mellon tour) 22a Federal Farm Credit Bad 0 n98% IN 0512215 1127/I7 1023/15 928 098'. 0 0 Bard. of W Mellon 500,07U Fedeal Huure l,an Mortgage l nrµrranon 0 1W. N/A 04,25;13 04/25J8 10,2595 877 1151. 0 0 Bad ofNY Mellon Iw6980 Federal Hone Loan Bank 0 1001; NIA WWII 01/30,16 I0I30'15 292 IUU'. 0 n Bad of Nl Mellon 998110 Federal Home lawn Bank 0 1 05•, N A 02112.'13 0211118 11/12'15 805 I 115'. 0 U Bank ofNY Mellon 999 720 Federal Hones Loan Mom,,. Cnrpnorwn 0 1625°. NIA 05/2111, 0112190 1123,11 1,134 1625% 0 It Bad of NY Mellon IW1810 Federal Home Wan Bank 0 u825°r. NIA 05/29l❑ 05/29.g8 11/30r 15 all 1,875% 0 0 Bad of N. Mellon IW1090 rederal facto, (rola BW SW. IW)e N.A 0512615 022611. 1201,I5 819 109•r 500,nW 496.550 Bard, of VY Mellon W 050 Federal lame Wan Mortgage Carporamn 50u uW 1901. NIA 0115 09/04/ID 120415 1,14U 190=. 500,ph; 50i Bard, ofW Mellon 5W,815 Fedeal Hnn¢ Lnar Bank IWG UW U8U°e NIA 06/12!13 %12)IA 11112,15 925 080°,. IUOU,O)Q 999,42U Bad ofN1 Mellon I000940 Federal Home Wan Martgae Corporation 2000,UW 1001. NIA W20.112 09,20,17 11G0r15 660 IUU". :000,000 2,000,930 Bank of NY Mhlan 100336U Federal Na.,..A Mortgage Aasauation 2WOOW tun', N/A W27/12 09.'277 12,27,11 667 10". 2000,000 2,0005u0 Bad ofNY'Mellon 20027nn Federal Hame Wm Bank I.OW WO 125•1. NIA 024915 07,2920 0I129, 16 1,703 121% 99j,500 1000250 Bank of NY M(Ibn 1002,01Sn Federal Home Wan Mortgage C arpnation IWO ow 150% N/A 01;29.115 02/2920 0129, 16 1,203 150•1 100000o 1001980 Bari ofNY Melon 1003,1 to Federal Hamm War Mortgage C.,c,ation 500,000 165% NIA ICV2911 1029121) 012u;10 1795 165'. 501 100120 Bank of NY MOInn n Fedeal Nan m al Mortgage la —ran.. 4W0000 103'. N/A 0I,ON13 019NI8 01001n 292 103-d 4UuWa 4,Un4920 Boo of NY Mellon 40111180 Federal. National Mortgage.4emctatwn 2Wlow 103% NA 05!2113 05,21 IS 02^I116 903 103% 10W.000 1988160 Bank of NY MrWn 1994440 Foleral Nanning Mongage.4asoliatmn s0011o0 IW. N/A U1I1215 02i22118 0242;16 W 100°. SW 000 50,285 Bank nfNY Mellon 500,085 Federal National Mortgage.4SOCL,umn IWllow 120°. NIA 0222;15 02221I8 0',1_7, to 820 120'. IWU OOU In02, 140 Bad of NY Mellon 1001580 Federal No —Loan Bark IWooro 140r. NIA 0304,15 09U4, I8 03, U4116 1009 140% 1000000 1001010 Band of NY Mellon 1002,910 Federal Horne Loan Mortgage Corpomuon 1,"po0 125'. N/A 03109,15 01,09, I8 Ob0'VI6 830 125% IWu 000 I,UUI 410 Bank of M1Y Mellon In0329n FNeral Nanimal Mongege.Aaranatmn 100000 I125°-. NIA 05G0 15 0518118 0518,16 900 1121% SW ono 5W,265 Bank of NY Mellon 5UU.915 Federal Navonal Mortgage Asmuaun 500,000 1W0 N/A 06,I1g5 12'I ill? Om 15116 )Jo IUU°. 5W,000 560840 Bankof NYMellun 501565 Federal Horror Wan Bark IMat 000 125% N/A 0129; 15 02:v/20 02'29I16 1703 125. 1,060 Coo 1 001 030 Bark of NY Mellon lUU^_,820 20,OW OW l-,N7.5UII 20,UUI 435 33,nlo 1W3 rcasrey L' V Jr15 rQ� Short Term lnvestmmlb I I vcar of le") Time Nlm,ata GE I ep Remit Bar, CD CE Cap Bank CD IMfedmm Term lnaestmenb I I leas Io i Saul Tmrc De,000, Goldman Sxh, Bank CD Dlxo.er Ban), CD 11 \ GrcI Aeenry ]eeunuta Federal Farm Credit Bard, hdnal NauooA Mnnya,, 4ccnuanon Finammp C.Wralon (FICD) JTorA Inve and Cash 'rear", 12220" TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS November30,2015 Par Coupon Purchare M(a,omy FinaNem 0,amnal D,, Yield Adpolad cam, (memo only) N.rQB l Au. Poe Ram Date D�14 Call Dme mMamo. m Mamoo, Call Bares Total Market M Aue Sumcr Merkel Value 20U,n0U 13S',. MA 712O/12 N20116 NA 233 135% 200,000 2M 889 Bank of NYY Me11w 201,2U3 211g000 13". N,A 720/12 7,20116 NIA 233 135% 20000o 2UU B89 Barak of NY Mellon 2012113 400.000 400,000 401 228 401_ 40o 2U0,000 180% N;A 72112 72!117 6/A 603 1W. 198,00 2026% Bmkof Nl Mellnn 203123 200,000 17W, N/4 72o/11 1/26'17 F'A 60J 1711% 200000 202,369 BaN at NY Mellon 2.33o3 4W,000 398,6W 405065 407087 506,000 an25.. N'A 05122; 15 U5/22.17 01!22!17 539 aW. 5u0 mN; 497955 Bane of NY Mellon 49o,W 2000GOO 110°. NIA 03/12/13 03,12I8 0412,18 833 110. 2,00,OW 2,001,660 Bank of NY Mellon 2,0124 ) 500,000 980°. N/A 04A06188 W/06118 N/A 858 980-. 498594 199954 Banl of 4;araa 61U U13 3,000,000 2,9985Y 3099,589 .,622491 S 107384,679 E 108342806 S I0R431,870 S 121 819 303 TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS November 30, 2015 (Total Invested Cash I Miscellaneous Accounts Petty Cash Trust & Agency - Bank of America Downpayment Assistance (Housing Fund) - Bank of America Workers Compensation - Bank of America General Liability - Bank of America 1930's General Store Museum - Bank of America On -Line Credit Card Fire Inspection Fees -Bank of America On -Line Credit Card Transportation Permits -Bank of America Total Cash Deposited lreasrep 12/17/2015 C2 Yield Adjusted Par Value Coupon Rating Maturiri to Maturity Cost Basis Cateeory Total $ 108,342,806 $ 108,342,806 $ 108,342,806 3,950 N/A N/A open None 3,950 2,072,406 N/A N/A open None 2,072,406 33,916 0.15% N/A open 0.15% 33,916 63,421 N/A N/A open None 63A21 28,635 N/A N/A open None 28,635 8,671 N/A N/A open None 8,671 68,358 N/A N/A open None 68,358 4,390 N/A N/A open None 4,390 2,283,745 $ 110,626,551 1998 Airport PFC lirwsw Government & Agency Private 2002 Parking Structure Cash Invesco Government & Agency Private 2006 Airport PFC Inve.+en Government & Agenq Private 20U7 Retundnv Lease Revenue Bonds [nvesco Government & Agency Private 2U07A&B fax Allocation Bonds Invesco Government & Agency Private 2007C la, Allocatwn Bonds Irnesco Government & Agency Private 2008 Anpuit PFC Refunding Lowe. Government & Agenc} Pin ate b e.u,p 1277/2015 Q 00 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS November 30, 2015 Par Coupon Yield Adjusted Category Value Rate Racine Mamnm to Maturm Cost Basis Total 1315773 vanablc AAA open 001°0 13I5773 315,773 3 3 425 variable AAA open 0oluo 425 428 1,507.805 variable AAA open o02°e 1507805 507,805 0 variable AAA open 00Po 0 0 19 vanable AAA open 001'. 19 19 16 variable AAA open 00P. to o 609568 variable AAA open 00—° 609.568 ('09,568 i memo only 1 Prior Qtr Market Value Source Market Value 1,315,773 Bank of NY Mellon 1,194,121 3 Bank of NY Mellon 3 425 Bank of NY Mellon 1 538 1,507.80i Bank of NY Mellon 1 263,405 0 US Bank 275,869 19 US Bank 19 16 US Bank 16 609,568 Bank ofNY Mellon 609.528 2012 Downtown Revotahmucat Lease Revenue Bond Reserve Invesco Government & Agency Private 20122014 Convention Center First American Government Obligation 2014 Merged Project 1 & 2Housmg Refunding First American Government Obligation 2015 Reassesment DutriU No 2015.1 First American Gowar menl Obligation 2015 Local Measwe A Sales Tax First American Government Obligation Chevron CnGen Lease Proceeds Cash Funds With Century Golf Totals neemep 12A7,2015 H TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS November 30, 2015 Par Coupon Yield Adjusted Calegury (memo unl2 I Prior Qir Value Rate Rating Maturitv to Mamrn, Cost Bests Total Market Value Souice Market Value 4,116,318 variable AAA open 001°a 4,116,318 4,116,318 Bank of NY Mellon 3,100,826 4T lo,318 12,677 variable AAA open 001°m 12677 12,677 US Bank 12,671 12 o77 1,332 variable AAA open 001°° 1,332 1332 US Bank T332 1,332 288,029 variable AAA open 001ou 288,029 289029 ❑S Bank 288.026 288,029 6,725092 variable AAA open 0 01'. 6,725092 6,725092 US Bank 6,59fi 098 6,72i 092 71077 N/A N;A demand None 716,877 716 877 Deutsche Bank 716,877 716,877 339,412 N/A N/A demand None 339,412 339412 Cemury Golf 557,314 339,412 1�, 633,345 15 633 345 S 14,7U7,642 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS November 30, 2015 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% 0.74% 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% 31.74% Money Market Mutual Funds - More than 1 Year N/A 25.00% 4.56% LAW N/A 100.00% 34.73% U.S. Government Agencies N/A 60.00% 21.23% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% treasrep 12/17/2015 F+ O