HomeMy WebLinkAbout11/4/2015 - STAFF REPORTS - 2.D. iy
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441FOIL % City Council Staff Report
DATE: November 4, 2015 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
SEPTEMBER 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 September 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
$115,417,161 plus $14,707,642 bond issue capital projects, reserve and debt
service funds. There is an additional $2,173,982 in various miscellaneous/trust
accounts. The market value of the invested cash is $116,045,193.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of September 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.�p_--
City Council Staff Report
November 4, 2015— Page 2
Treasurer's Investment Report as of September 30, 2015
The weighted average maturity (WAM) of the portfolio is 306.52 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
September 30, 2015
On Call Deposits Adiusted Basis Category Total Percentaee
Checking Account $ 9,723,074
CalTrust ShortTenn 31,865,902
CalTrust MidTenn 4,931,390
State Pool 32,103,101 $ 78,623,467 68.12%
Short Term Investments
(I year or less)
U.S.Gov't Agencies 32,996,500
Time Deposits 400,000 33,396,500 28.94%
Medium Term Investments
(I year to 3 years)
U.S.Gov't Agencies 2,998,594
Time Deposits 398.600 3,397,194 2.94%
Long Tenn Investments
(3 eaeto 5 ears)
0 0 0.00%
$ 115,417,161 100.00%
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10/20/2015
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
September 30,2015
I'm ('"open Pachase Mawriry F.m'N'a'OpuorW Oays Yield Adpmed Category (inemo only) Prior Qn
Vaue $�. $ailpy Dare Dade Call Pare 14 Mal Nl4sn, CC,r,B S I➢131 Marker Value Some, Marker Value
On Call Dcposns
Checking-Hank of Aeznea s 9.221024 N/A AAA demand N/A 1 None 9723074 S 9,723,074 Bank of America 6569,161
CoiTmea ShenTerm 31,10000 ...able N/A demand N/A 1 0.52% M.865.902 31 835.915 Cal Im,[ 33.308,001
Calms,kle!1 nit 4,50009U variable F/A dernand N/A 1 0RR% 4931390 5,405,079 CalTrusl 6900.814
Local Agency)nest Fund(LAIF) 32,000.000 variable N/A demand NIA 1 0.337% 32,103,101 32,122,191 IAIF 38.593,131
77,723074 98,623,469 79,096,259 31,371,129
Short Term lnve.Orents
(1 yean or Ins1
U.S Gov Agency Sectur es
Fed era)Home Loan Mortgage Corpona.n 0 125% N/A U21'0/I5 U^_120118 0820/15 874 125°% 6 0 B.rk of NY Mellon 998,250
Fedeml Home Loan Batik 0 100%< N'A %20r13 06,20118 092o/ls 994 100% 0 0 Bank of NY Mellon 2,000,400
Federal Home Loan Mortgage Cor omo. 0 120% N/A 03211/13 03,20/I9 092U/I4 902 1'0°". 0 0 Bank of NY Melon 1,999,640
Fedmal Home loan Mongage Coryormlon 0 125% N/A 03,25/IS 09I25I18 09/25/I1 1091 1.25% 0 0 Bank of NY Mellon 1,001390
Federal Home Lawn Mortgage Corponum. 0 104% N/A 0927/12 0927,'19 0927,'15 723 104% 0 0 Bwk of NY Mellon 200=540
Federal Farm Credit Bank 0 098% NIA 0811542 08/15/17 09,28/15 685 0.981. 0 0 Bank ofNY Mellon 1,998,500
Federal Home Loan Mongage Corporm e. 0 185% N/A 03/30/15 03/30/20 09/30/11 1.643 1.85% 0 0 Bank ofNY Mellon 999oW
Federal Home Loan Bank 2,000.000 1001, NA 09/IV12 09/18/17 10,101/1, 019 1.001. 1999.000 2,000.160 Bank of Nl'Mellon 1999,360
Federal Farr Credh Bank =0Ug000 112% N/A 0220/D 0220118 10/01/15 804 1.12% 2.000000 2,00g220 Bank ofNY Mellon 2.000,220
Federal Home Loan Bank 1000.000 0971% N/A 0129113 05/29/I9 I01101/15 9/2 0825% 1000,000 1On 1090 Bank of_NY Mellon 1000,430
Federal Home Loan Mongage Corporation IJg0000 IN% N/A 01/I1713 01/11/18 1U/11/15 834 1.00a. 1000,000 1A011.230 Bank of NY Mellon 994376
Federal Home Low Mortgage Corynr.. ?000,000 1.05°a. N/A 01/I6/13 01/INIR 10/16/15 839 1.05% 2,000,000 2,000730 Bank ofNY Mellen 2,000820
Federal Home Wan Mortgage Corp mIum 2,000,000 1.15% NA U425/13 04/25/19 10/25115 938 115% 2,000,000 2,001.200 B. of NY Me11on 1996980
Federal Nanoml Mongage Amxmmm 4,000,000 1.03°r. N/A 01/30/13 01/30/I9 10/30/IS 853 1.03% 4,000.000 4.UO3,080 Bank ofNY Mellon 4,003,160
Federal Home Loan Bank 1000,000 1OMO. NIA 01130,13 01/30/I9 10/10/15 853 1.00% 1,000,000 998.110 Bank ofNY Mellon 99tl020
Federal Home Low Bank IuUg000 105% N/A 02,12/13 02/12/19 II/I2/15 966 1.0% IOOQ1100 999,720 Bard mM Mellen 997,220
FmImal National Mortgage Association 2,000,000 1.03% N/A 01,21,13 05/21219 11/31,15 964 1UP'. 2,000,O 1994,446 Bank DENY Mellon 1986,320
Federal Home loan Mongage Corloranon 1000,000 1.625% NIA USCl/IS 052120 1121I5 1695 1625% 1000,00 1001310 Hank ofNY Mellon 992620
Federal Farm Credit Bwk 500.000 109°. NA 052611S 022N 18 IICN 15 880 IOY': 500,000 500.050 Bank of NY Mellon 499955
Federal Fano Credn Bank 500,000 098% N/A 0522/I5 II121/19 II127/15 789 0.98°. 500.000 500,045 Bank of NY Mellon 500.090
Federal National Mortgage A aocmnrn 1000,000 1_10% N/A 02,'_7115 02123'IR IIC7.1I5 991 1265': 1000,E 1001580 Band,ofNY Mellon IG90.970
Federal Home Loan M m"e Corpomnnn 500,000 1 901/. N/A 09/04/15 09/W20 121N!15 L801 1.901. 500." 100815 Bank of NY Mellon 0
Federal l Wme Low Bank 1,000,000 0.90% N/A 06/12/11 06/12/19 1211L15 986 080%. 1000" 1,000,940 Book cf NN Mellon 1000.78.
Federal Home Loan Mangage Corpmaeon 2,000,000 IM)% N/A 0920/12 0920/17 I2/20/15 721 100% 2,000,000 2,003,360 Bank of NY Mallon 2,003400
Federal Nommal Mortgage A aocmrmn :000,000 LOT. N/A 0929/12 N/27/12 12/2715 728 1.07. 2000," 2,002.900 Bwk of NY Mellon 2,001360
Fedeml Home Loan Bank 1000.000 125% N/A 07,29115 09/29/20 01/29/16 1264 1259. 997,500 1,002.000 Bank of NY Mellon U
Federal Home Loan Mongage Cm,mron 1000,000 1.5W,. N/A 07,29115 0729/20 0129/10 1,9d1 1.561. 1000000 1,003100 Bank of NY Mellon 0
Federal National Mortgage A ,edmm 500,000 1.0% N/A 05/22/1'_ 02/22,,18 02/21116 876 100% 500,000 500,085 Bank of NY Mellon 498,991
Federal Home Low Bank 1000,000 140% N/A 03,04/15 09IN118 03/04/16 1.090 IA@r' 1000,000 L002910 Bank of NY'Mellon 1,000,450
Fedeml home Loan Merlgage Corpomtwn 1000,000 1.25°. N/A 03/09/IS 03/09/18 03/,09/,16 891 I25°6 1,000,000 1OU328. Bank ofNY Mellon 1,002,590
Federal Nrlonal Mortgage Auoc mom 500000 1125% N/A 05201L 05/1&18 OS/18116 %1 1,125% 500,000 500.915 Bard,of NY Mellon 4en,195
Federal Nammal Mortgage Asmciauon 500.000 1.00% N/A 06/15'15 12/IS/12 W/IS/16 907 100% 500000 501 b5 Bank of NY Mellon 499,770
Fedeml Home Low Bart 1060000 1.25% N/A 0229115 0729/20 0429116 1,761 1 25% 1.000,000 1002.820 Bank of NY Melon 0
33.owoo0 32,996,10. 33,027001 40479,265
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TREASURER'S MONTHLY REPORT'
DETAIL OF INVESTMENTS
September 30,2015
Par Coupon Pmehese Memory F,s,/Nen Oplmnal Days Yield Add iwl Cnmgo,y lmnw only) Rio,Qm.
Value Ram Roan, Daze Date C,11 Dote lot tunl Ind Cnat B.'s Tmd Marke Vdoe Suume Merkn Value
Shoo Term Imesments
(1 year or lean)
Tinie Deposi,s
GH Cap Reml Hank CD 200,000 135% N'A 7/20,112 720%I6 N/A '94 135% 200,000 201203 Bank ofNY Mellon 201.493
GB Cap Bank CD 200,000 1.35% N/A 7,'20/12 9R0/16 N/A 294 1,35% 2K000 201,203 Hmlk ofNY Mellon 201491
4M1,000 400,000 402,406 402996
Medium Term ln.eamems
(1 year is 3 years)
T'm,,Deposits
Goldman Sachs Bank CD 200000 180°/° N/A 7/25/12 7/25/I7 N/A 664 1809° 19000 203,723 Bank of NY MdW, 203,794
Dlsccver Bank CD 200,000 190°ie N/A 7/26/12 7/26,17 MA 665 1]0"/ 200,000 203,363 Bank of NY Mellon 203,383
400,MI0 398.600 407,087 407173
U.S.(iovl Agency Securi0a
Federal Fam,Cecil Bwk 509M 0625% N/A 05/22/15 05/22/17 0542/17 600 0.63°x 500,JJU 499945 Bank of NY Mellun 498450
Pedend Na0ora1 Mon8age Assoaaion 2.060,000 110% N/A f13/12/19 03/I3/18 0311,119 894 1.1vle 2000,000 2,012440 Rank of NY Mdlnn 2001.360
Fuivmm5 Corpora090(FICO) 500,000 9 80% N/A 04/06/88 09'06/18 N/A 919 9B0°/ 499,594 610A53 Bank of Amen. 1,19443
3,00.000 2.993,594 3,122,438 2,620,803
Total hivested Cash S 114.523,074 $ WAIT161 E 116WS193 5 129281,30
Curren Quade, PonElio Yeld 06h% 067%
BeneOnvsk Yields: Rio,Quarter
12 Mann LAJF Average 029°'° Portfolio Yield
2 Year Constant Malunry Treasury 061%
'Imeraal Income for the Qu n,r Ending 09,1.,2011 272475
"Goss amount bxfurx deJuniun of nvesl—nt relaled Fees
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
September 30, 2015
Yield Adjusted
Par Value Cou on Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 115,417,161 $ 115,417,161
$ 115,417,161
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust& Agency-Bank of America 1,985,738 N/A N/A open None 1,985,738
Downpayment Assistance(Housing 33,907 0.15% N/A open 0.15% 33,907
Fund)-Bank of America
Workers Compensation-Bank of America 70,778 N/A N/A open None 70,778
General Liability-Bank of America 29,880 N/A N/A open None 29,880
1930's General Store Museum-Bank of America 9,694 N/A N/A open None 9,694
On-Line Credit Card Fire Inspection Fees 37,274 N/A N/A open None 37,274
-Bank of America
On-Line Credit Card Transportation Permits 2,761 N/A N/A open None 2,761 2,173,982
-Bank of America
Total Cash Deposited $ 117,591.143
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10/20/2015
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
September 30, 2015
Par Coupon Yield Adjusted Category (memo only) Prior Qtr_
Value Rate Ratio e Maturitv to Maturity Cost Basis Total Market Value Source Market Value
1998 Airport PFC
Invesco Government&Agency Private 1,194,121 variable AM open 001% 1,194,121 1,194,121 Bank of NY Mellon 1,159,095
1,194,121
2002 Parking Structure
Cash 3 3 3 Bank ofNY Mellon 3
Invesco Government&Agency Private 1,538 variable AAA open 0 01-1. 1,539 1,538 Bank of NY Mellon 1331
1,541
2006 Airport PFC
Invesco Government&Agency Private 1,263,405 variable AAA open 0.02°. 1263,405 1,263.405 Bank of NY Mellon 2,356,674
1,263,405
2007 Refunding Lease Revenue Bonds
Invesco Government&.Agency Private 275,869 variable AAA open 0.01% 275,869 275,869 US Bank 0
275.869
2007A&B Tax Allocation Bonds
Invesco Government&Agency Private 19 variable AAA open 0.01% 19 19 US Bank 368,272
19
2007C'fax Allocation Bonds
Invesco Government&Agency Private 16 variable AAA open 0.01% 16 16 US Bank 340,221
16
2008 Airport PFC Refunding
Invesco Government&Agency Private 609,528 variable AAA open 0 02ae 609,528 609,528 Bank of NY Mellon 609,467
609,528
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10/20/2015
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
September 30, 2015
Par Coupon Yield Adjusted Category (memoonb) PriorQtr.
Value Rate Racine Maturi to Maturity Cost Basis Total Market Value Source Market Value
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,190,826 variable AAA open 0.01°a 3,190,826 3,190,826 Bank of NY Mellon 3,190,506
3,190.826
2012f2014 Convention Center
First American Government Obligation 12,671 variable AAA open 0.0 V 12 671 12,671 US Bank 12,671
12,671
2014 Merged Project I&2/14ousing Refunding
First American Government Obligation 1,332 variable AAA open 0.0t96 1332 1,332 US Bank 419,486
332
2015 Reassesment District No 2015-1
First American Government Obligation 288,026 variable AAA open 0,01% 288.026 288,026 US Bank 288,026
288,026
2015 Local Measure A Sales Tax
First American Government Obligation 6,596,098 variable AAA open 0.01% 6,596,098 6,596,098 US Bank 6,595,998
6,596,098
Chevroni Lease Proceeds
Cash 716,877 N/A N/A demand None 716,877 716,877 Deutsche Bank 754,975
716,877
Funds With Century Golf 557,314 N/A N/A demand None 557,314 557,314 Century Golf 1,337,946
557 314
Totals 14.707,642 14,707,642 E 17434671
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
September 30, 2015
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.06%
1 year to 3 years N/A 50.00% 2.94%
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% 0.69%
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% 27.61%
Money Market Mutual Funds - More than I Year N/A 25.00% 4.27%
LAIF N/A 100.00% 27.81%
U.S. Government Agencies N/A 60.00% 31.19%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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