HomeMy WebLinkAbout12/16/2015 - STAFF REPORTS - 2.E. ?ALMS
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r Cg41FORa% City Council Staff Report
DATE: December 16, 2015 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
OCTOBER 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 October 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
$112,250,718 plus $17,756,452 bond issue capital projects, reserve and debt
service funds. There is an additional $2,232,236 in various miscellaneous/trust
accounts. The market value of the invested cash is $112,386,699.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of October 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
December 16, 2015— Page 2
Treasurer's Investment Report as of October 31, 2015
The weighted average maturity (WAM) of the portfolio is 237.51 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
Geoffreq S. Kiehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
Investment Allocation
3.1% City of Palm Springs
0.7% Total
$112,250,718
■ State Pool (LAIF)
■ CalTrust ShortTerm
■ U.S. Gov't Agencies
■ CalTrust MidTerm
■ Checking Account
■ Time Deposits
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CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
October 31, 2015
On Call Deposits Adiusted Basis Category Total Percentaee
Checking Account $ 3,508,897
CalTrust ShortTerm 36,879,913
CalTrust MidTerm 4,935,308
State Pool 40,131,907 $ 85,456,024 76.13%
Short Term Investments
(l year or less)
U.S. Gov't Agencies 22,997,500
Time Deposits 400,000 23,397,500 20.84%
Medium Term Investments
(1 year to 3 years)
U.S. Gov't Agencies 2,998,594
Time Deposits 398,600 3,397,194 3.03%
Long Term Investments
(3 year to 5 ears)
0 0 0.00%
$ 112,250,718 100.00%
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I REASURER'S MON'I 1 ILY REPOR P
DETAIL OF INVESTMENTS
October 31,2015
Par Co.,.. PUrchme Mmorty FvstNem Optional Days Ymld Adjusted Category (lrnenw 0Ny) Pilot Qtr
Valve lCalf, Ita�a• Date Date Cali D Is p,MaIyJy to Maturity Cost Tool Market V'al c c-'e, Mark. vat,
Checking-Bank nfAnanca 5 3.508,897 NIA AAA dnwid NIA I None 3,508,997 E 1.508.897 Bank of Aoenaa 6.569,161
Call SkonTemt 36,500000 sariable N/A d.d WA 1 049°5 36,899,913 36,858,739 CalTmsn 33308,001
(adlrwt Mid I eG. 1500.000 unable NIA demand N,A 1 085% 4,935,309 4,924,346 C.ITmst t1,900,814
Local Agency Invest Fod(LAIFI 40000000 vwwlc N,IA demand N/A 1 0357°. 4013 L909 40,155772 LAW 38,593,131
94,508,897 9545ti.W4 85,447.754 81,371,128
Short Temt Invau»ents
(I year or lead
US Gov't Agency Seco hies
Federal Home Loan Mortgage COrporanoo 0 1OWi N/A 014C13 01/11,ig 10/11/15 803 1W. 0 0 park of NY Mellon 994,370
Federal Home loan Bank 0 1.00°. NIA 09/1842 OW19/12 10/14/15 699 1.00°. 0 0 Band,ofNY Mellon 1,999,161)
Federal Home Loan Mortgage Corporation 0 101% N/A a if 6113 01/I6/I8 10/16/15 808 105% 0 U Bank of NY Mellon 2000,82U
Federal Fsrar Credit Bank 0 1.12% N/A 02/2W13 0220/I9 W23/15 843 LCYn 0 0 Bank ofNY Mellon 2,000,226
Federal Farm Credit Bank 0 099°6 N/A IW27/IS 11/29/19 10/1_3(15 71R 0.9M4 0 0 Batk of NA Mellon SUU,PIU
Federal Home lean Mortgage Cerperaioo 0 11516 N/A 04,25/13 0425/I8 10/23/15 907 1.15°. 0 0 Beat of NY Mellon 1996,980
Federal Home Loan Bank 0 I.00°. N/A 01/30/13 01/30/19 10/30/,15 822 1.'011, 0 0 Bank.1 NY Mellon 998.1k
Federal Home Loan Bank 1,000000 08951. N/A 05,29113 05129//19 11/01/15 941 08250. 1000000 999,450 Bank ofNY Mellon 1001090
Federal Home loan Bank I,000AUO 105% N/A 0112/13 02'12/18 11/12AS 835 1.05°n 1600.W0 1600,170 Bank ofNY When 999.720
Federal National Mortgage Ae-oratipn 2.000.000 10396 N/A 0521/13 05/21/18 IIC1/15 933 LOi°rt 2,000,W0 1999,960 Bank of NY Mellon 1994440
Federal Henie Loan Mortgage Corporation I000,000 1.625°e N/.S 0512CIS 052120 1121/15 1,664 I625% 1,000 WO 1,000.570 Bat,ofNY Mellon 100181.
Federal Farm Cedh Bark 500000 IO9/. N/A II5126/15 02/2e/19 IIC6,11 849 1.09°. 500IXN1 500.1120 Bank ofNY M.119n 500,050
Federal National Mortgage AvaociaGen 1,000.000 120e N/A 02,27/15 0220/I9 11//27115 850 120% I,000,WU 1,000,620 Bank ofNY Mellon 1,001,580
Federal Home lean Mortgage C'mplBtion 50000. 190o, N/A 09,04115 09/N/20 I2/04i15 1,110 190% 500000 100525 Bade of NY Mellon 504815
Federal ITome Loan Bank 1,000,000 080% N/A 06/1393 06/12/18 12/12/I5 955 0.Go.. 1000.W0 1,000,510 Bail:ofNY Mellon 1000,940
Federal Home loan Mortgage C m,ron0n 2,000,000 1.W N/A 09/20/12 09/20,17 12/20/15 690 1.00% 2,000000 2,007.440 Bank of NY Mellon 2,003,360
Federal Naliorwl Mortgage Asm...an 2000,UK) 1079° N/A 09,27112 09,27/17 12,29/15 699 I07°. 2,000.W9 2,001320 Bank ofNY Mellon 3002,700
Federal Home Loan Bank 1,000000 1.25% N/A 07,29115 IL7G9/20 01,29A6 1,333 12511. 999SW 1,001420 Ewl,ofNY Mellon 1002,000
Federal llama Loan Mongage Corporation 1,000,000 1.50. N/A 02/29a5 09@9/20 01/29/16 1,933 150% loW000 1,001,990 Bark ofNY Mellon 1003,100
Federal Hmre loan Mortgage Cotpomnoo 500,000 1.65% NA I029115 10/29/20 01291,16 1825 1.6511. 500,W0 Sa0,405 Bad OfNY Mellon 0
FederalN.,mrd]Mortgage Association 4,000000 103% NIA 01/3013 01/,30/19 01/30/16 822 103%° 4000000 4,008.120 Bank ofNY Mellon 4.003030
Federal Nalmnad Marlgage Aseciation 500000 1.00% NIA 052245 0222/IB 02/22/16 945 1.00% 100,000 500,535 Bank of NY Mellon 500,085
Federal Home Loan Batt 1000000 140°. NIA 03/04n5 09,04/19 03/04/16 1039 1404° 1000050 1001890 Bank of NY Mellmi 1002,910
Federal Logo,Loan Mortgage Corporation 1,000,000 1.251 N/A (0/09/IS 031,09/19 03/09/16 860 125% 1,000000 1002,260 Bank efNY Mellon 1003,280
Federal Naniooal Man,,.A.aociati0n 500000 L125- NIA 05/20l IS Gill 8/I8 01/18216 930 1.125% 500,000 500,285 Bank of NY Mellon 5K915
Feed eml National Mortgage M,eaaam. 500,000 1.00% NIA O6/15/15 12/15/17 06/I5/16 776 1.(Hy 500000 5.1395 Bark of NY Mellon 501,565
Federal Home Loan dank I000000 1.25% NIA 02/29d5 07/29/20 072916 1,733 125% 1000.000 1002,130 Bank ofNY Mellon 1002,820
21000,000 22,99)500 23021695 33016,190
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
October 31, 2015
Par Coupon Purchase Maturity First/Next Optional Days Yicld Adjualed Category (memo only) Prior Q1,
value ELC 1R11111g DdIC RJIe CLILPdIe at M'itful% LL`� cost R.o )slat M,,krt Valir Sounoc M,,ket Value
Snail 1'.lnvcslnse ffi
(I year or less)
Time Deposits
GE Cap Retail Bank CD 200.000 1.35% N/A 7120112 7/20/16 N/A 263 1.35% 200.000 201,114 Bartk of NY Mellon 201,203
GE Cap Bank CD 200.000 1,35% N/A 7/20112 7/20116 N/A 263 Ll5% 200,000 201.114 Bank or NY Mellon 201,203
400," 40)'" 101.129 402.406
Mediwn Tenn ho shnrnls
(1 ear 10 3 ears)
Time Deposits
Goldman Sachs Bank CD 200.00L) 1,80% N/A 9/25112 7125117 NIA 633 1,80% 198_600 203,330 Bank of NY Mellon 203,721
Disco,er Boil;CD 200." 1.70% N/A 7R6112 7126/19 N/A 634 1.90% 200,01q 202,986 Bank of NY Mellon 203.363
40g000 398.600 0)6,316 Q7,087
US.Gov't Agency Securities
Federal Farts Credit Bank 500,000 0,625% N/A 05/22,15 05122,17 05122,17 569 0.61% 50f1.f810 498.%5 Baidi of NY Mellon 4",945
Federal National Mortgage Association 2,M." 1.10% N/A 03/12/13 03/12/I8 03112/I8 863 1.10% 2,000,000 2,B ,520 Bank of NY Mellon 2.01L,[40
Futancug Cotpurallon(F1CO) 500.000 9.90% N/A 04/06/88 04/06/18 N/A 888 9.80% 498,594 605,281 Bank of America 610.053
3.000,00(f) 2,998.594 1,108,705 2.622.493
Total Invested Cash S 111_A1m 997 $ 112,250 718 b 112.386.699 S 121,819,303
Current Qa cr Portfolio Yield 0,63% 0.66%
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
October 31, 2015
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 112,250,718 $ 112,250,718
$ 112,250,718
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust & Agency- Bank of America 2,060,926 N/A N/A open None 2,060,926
Downpayment Assistance (Housing 33,911 0.15% N/A open 0.15% 33,911
Fund) - Bank of America
Workers Compensation- Bank of America 38,149 N/A N/A open None 38,149
General Liability - Bank of America 30,000 N/A N/A open None 30,000
1930's General Store Museum - Bank of America 9,200 N/A N/A open None 9,200
On-Line Credit Card Fire Inspection Fees 51,843 N/A N/A open None 51,843
-Bank of America
On-Line Credit Card Transportation Permits 4,256 N/A N/A open None 4,256 2,232,236
-Bank of America
Total Cash Deposited $ 114,482,954
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
October 31, 2015
Par Coupon Yield Adjusted Category (memo only) Prior Qtr-
Value Rate Rotina Maluri - to Mawdty Cost Basis Total Market Value Source Markel Value
1998 Airport PFC
Invesco Government&Agency Private 1,254,946 variable AAA open 0.014b 1,254,946 1,254,946 Bank of NY Mellon 1,194,121
1,254.946
2002 Parking Structure
Cash 3 3 3 Bank of NY Mellon 3
Invesco Government&Agency Private 1595 variable AAA open 0.01°0 1595 1,595 Bank of NY Mellon 1,538
1.598
2006 Airport PFC
Invesco Government&Agency Private 1385,602 variable AAA open 0 029e 1,385,602 1,385,602 Bank of NY Mellon 1263,405
1,385,602
2007 Refunding Lease Revenue Bonds
Invesco Government&Agency Private 0 variable AAA open 0.01'. 0 0 IJS Batik 275,869
0
2007A&B Tax Allocation Bonds
Invesco Govenone it&Agency Private 19 variable AAA open 0.01% 19 19 US Bank 19
19
2007C Tax Allocation Bonds
Invesco Government&Agency Private 16 variable AAA open 0.01 . 16 16 OS Bank 16
16
2008 Airport PFC Refunding
Invesco Government&Agency Private 609.548 variable AAA open 0021a 609,548 609,548 Bank ofNY Mellon 609,528
609,548
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
October 31, 2015
Par Coupon Yield Adjusted Category (menm only i Prior Our
Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,190,930 variable AAA open 0.014° 3,190,930 3,190,930 Hank of NY Mellon 3,19(f826
3,190,930
2012/2014 Convention Center
First American Government Obligation 3,323,539 variable AAA open 0.0195 3.323,539 3.323,539 US Bank 12,671
3,323,539
2014 Merged Project 1&2/Housing Refunding
First American Government Obligation 1,333 variable AAA open 0 O19° 1,333 1,333 LIS Bank 1,332
1,333
2015 Reassesnrent District No.2015-1
First American Government Obligation 288028 variable AAA open 001'. 28$028 288,028 US Bank 288,026
288,028
2015 Local Measure A Sales Tax
First American Govcmment Obligation 6596,131 variable AAA open 0.01°ia 6,596,131 6,596,131 US Bank 6,596,098
6,596,131
Chevron,/CoGen Lease Proceeds
Cash 716877 N/A N/A demand None 716,877 716,877 Deutsche Bank 716.877
716.877
Funds With Cemury Golf 387,885 N/A N/A demand None 387,885 387,885 Century Golf 557314
387.885
Totals 17,756,452 17,756452 S 14,707,642
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
October 31, 2015
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 96.97%
1 year to 3 years N/A 50.00% 3.03%
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% 0.71%
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% 32.85%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 4.40%
LAIF N/A 100.00% 35.75%
U.S. Government Agencies N/A 60.00% 23.16%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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