HomeMy WebLinkAbout9/16/2015 - STAFF REPORTS - 2.E. p PLMg
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Ca<<FORa�P City Council Staff Report
DATE: September 16, 2015 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
JUNE 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 June 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
$131,887,334 plus $17,434,671 bond issue capital projects, reserve and debt
service funds. There is an additional $1,281,090 in various miscellaneous/trust
accounts. The market value of the invested cash is $131,979,735.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of June 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.
City Council Staff Report
September 16, 2015— Page 2
Treasurer's Investment Report as of June 30, 2015
The weighted average maturity (WAM) of the portfolio is 336.71 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
Geoff r y S. Kiehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
June 30, 2015
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 6,569,161
CalTrust ShortTerm 33,326,224
CalTrust MidTerm 6,923,129
State Pool 38,578,626 $ 85,397,140 64.75%
Short Term Investments
(I year or less)
U.S. Gov't Agencies 42,993,000
Corporate Notes 0
Time Deposits 200,000 43,193,000 32.75%
Medium Term Investments
(I year to 3 years)
U.S. Gov't Agencies 2,498,594
'rime Deposits 798,600 3,297,194 2.50%
Long Term Investments
(3 year to 5 years)
0 0 0.00%
$ 131,887,334 100.00%
treasrep
07/30,12015
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"I"REASURER'S MONFHLY REPORT
DETAIL OF INVESTMENTS
June 30,2015
Par Coupon Purcbau Mamrn, FinnNem opliaal Do,, l'mH Ad,IiA Cacgop (wano onl,) Prlw Qtr.
value Haze �on- (Lott uiIX CAI Bo, Iq,mffiW C I,M,,n, Coil Bo" Nad.el\al Source Markel Y'aluc
on can B.Pmlls
CM1air,-Bad of Alncnca E 6S6g161 N,k r A dnnaM N,A I Nonc 6ifiY"Ifil $ 6I'l161 Bank,,Amcwl 14621n9
C.M-1 Ska Tcml 1z 000.00o Ianabl, NA dcmaM NIA I lI sI°v 33"1221 31;08001 CAT..1 20311189
C.ITnlbl Man— 5.SOU.HUn ,anabL: NA dnnM N,d I I 602412, 61.00834 farrn,sl 289156/
1—al A,il— Fmd IIAIFI 355040011 ramble NA d,ma,d NIA 1 2299: 3857862n 18111 .,al LAD 301711191-
R1569_161 853'P,140 85371.12E 64146525
sllnn Tcim Iaa.mioni.
I 1 Iear nrleaal
u S en21 A_mna Sewnlnv
FO-1H—,LowHwd o 1511-1 N/A 1Ml5%14 02/15,99 04/I1,15 0 1504. p 0 HZMnf NY W11- 2W0.140
Federal Minnow K1.1,,A—.onn o 1011% N/A O4130/I4 04/3'1,99 M/3015 0 I0U5¢ 11 0 Bank ofNY McIIaI 2W3140
Federal Fmo,al Mongagc A,a..a,on 0 IUII% N/A 0828'/12 Oil19/17 UJ28,15 0 100% 0 0 Bork ofNY Mellor 91Y1.9'n
Federal National Man,,iag,Asswaoon o 1111ye N/A 0828/12 oe2tl99 05/28/15 It IIU"n o n Bwl,afN1'Mellon 2001,9811
Fcdtral llonx Loaf Brvd 0 13V. N/A 0346/15 W/2o,IN a 138.m U 0 Hark ANY Mtllon I"It.81.
P,daotH ,LoweBaM I,000.000 1145'. N/A O419/13 O'/.116 02/0IAS 314 045% IIn4oW 999710 Banda of NY Mellon 9W.11411
Fcdcml Fam,C,,dil Bank 1000000 085% N/A 08115/12 02115,11 07/01,15 596 0.85% Yol0ow 100190 Bank ofNY%Wlln IAW.1190
Fcdtral Fomr Credit Balk 1000000 098% N'A OB/1512 W15,17 117MI/15 377 098-1 1Y92,n1.1 1598"yu0 Bank of NY Mellon 2AIY.1611
F,decd llmnc Low Bad 2000.000 1nH% NA O9,1./12 09,1.17 09101145 ell Lon-. 1,9n901N1 1,999360 Bads of NY Mellor Il'MJ8n
Fcdcml Fonn CNdil Bads 1,11110no0 112% N/A 02/2.43 0220/18 02/O1,15 966 1.1290 2u1111001a 2,Unit 2,10 Bank of NY Mellon 2.1la11211
Federal Horne Loan Bank 1 0011.000 Rb% N/A 0529/13 05/29/18 40 01/11 1 0,4 0]5% I n1111000 I nn11.430 Bank ofNY Ndlon IyIN/99a
Federal Homy Low Motgago( morwon LODU.HHO IUH9e N/A Wllil3 01!II/I8 1011;11 916 IOa95 1,1111"n0ll 991.I0 BmJ ofNY WE- 99]1]11
Fudcml Hanc Loan Alodgl,lCorpomuan 211000110 1 "o. N/A nWind r.iWIa O7/1N'IS 9il 101% 2OnR0nu 201111,820 Rink of NY M01- 21100821E
FH,,al Hwnt l ua.Ntw,,c Coryuraoan 20000H0 I.IS". N/A 14,25/13 O4!25/I8 117/15,11 IIHO 111.. 2,Innljolll 1996980 Bank of NY Mdka, 1,198,920
FNcal Nan-al Mcal,i,"Assoc I n 4J1(111000 Ina'. N/A n113n/13 01/8(1/I8 07.311,'I1 945 103% 4.O111fn0o 4"011n"INI B:ud,of NY Mdlm, 4,11111,0411
FcdcN Hwnc luau Bwd, 1.0041100 Intl/.. N/A 01/311/13 IIIi30,98 07/30,15 945 1011% 1.01111000 998f12o RW,of NY Mclloa 998.400
f'cdcralHwnt I.ul,n Baal, I.11011 allll IEIS°e N/A (11/12113 02II2/I8 118,1E%I1 958 105% 1Inal nin, 9972II1 P.'ak ofNY Mu11on 997 6611
Federal Han,Lnal Morlyayv Cog law— I"(at'l0o I'_59„ NA 0220/11 (11,20/18 OF/'_WIS 966 1254b 1.)111000 99%750 Hank nl'NY Mc11oa 91)9351;
F,kal lot al MnI,,,A,,-.,,on I(1(al Inn. IIG°o N/A U5.21113 05)21/18 08/21/11 1056 103... 2W1n(Wil 1-86320 Hank.1 NY Mc11na 11191400
Federal H—i.Low M.,,.Corpnat,wl 1000,000 1l2,1 N/A 052V15 U312LD, (1421i15 1.187 1625'h. 1001;00I1 992,670 Haa,ofM Mellon 0
FedcrJ Low Credit Bank 500 wo 109% NIA 0,26/1, 01/26,18 11826'45 971 109% SMn000 494955 Bak ofNY MdIon, 0
Fadtral Pow,Cnedil Bank 5110000 498% N/A 115,2715 11,17117 00411/I5 881 119.., .500ono 5n11,100 Brvd,ofNY Mill. o
Fcd,al Nannaw Mongag,Assxialion 1 Uo0n00 1In% NA 0127/I5 H227118 O8C]95 933 1 M'. 10U11000 10nu.8/0 Bark ofNl N,IIm I0111,860
Fcdcml llomc Low Bank IJIOO"aM0 080Yt N/A W1Y13 WI Ms u,1211 IIDe odub IAOOOoo 10nu.79O Bank ofNY Mdla IOoIlln
Federal Hwnt Loan Mongagc CiN,alwon I0(auno) 100Mo N.'A "M 11 H9,20/17 09Cn'11 813 IOu°a 2000000 'OO i.$00 Balk ofM Mellon -003.2-00
Fad,wl Ham,Loan Mongagc C,a,,won 1,1.1ItiH0 1.2H4e N/A U321V13 obLulB N,Nlli 991 1.20% 20n1000 1999A4u Bank ofNY Mellon 211O3,w(i
Fcdcml Hanc Loaf Bad 2001),W Ion-a N/A Im,2N13 1.m20.'1A 0 211,11 1.086 Ion 1.998.nu11 20110411E Bank ofNY%ldl- 2,01.22H1
Fcdcml H-n,Loan Monglbc CnMorwon IOo0.0o0 12". N/A 113,25.15 0925/13 n9.25'15 1.18; 125°". In00o011 1.011I390 Bank ofNY M01on i Ind il/l
Fixi—I Hmuc Loa.Mortgage Corya.... I(lal011n 114il N/A 011,22/12 09279E 09,2711 AM 104.1. 2n00o1111 2,0U2,1411 Hank o1 NV'M01. 2n02.11A
Fwaal NLmow M,angage Aumamn 2MOOIIIIU Ill]N. N.'A 09127%11 0912211E 0B1_7,15 8'_0 IO2% 200ndIH0 200336U Balk of Nl Mill] i 1112.380
FcdiaJ Horne L.-Mw,,,,CoTomI.- 10011Lo11 I81°. N/A 03P0G 11i9620 09/30,I5 I735 185% 1001".00 999,00l1 Bak ofNY Mclloa 1,002J9I
Ftdclal National Mongi,A—anon 5001100 100'. N/A 05,2245 0242/18 01/22i 16 968 100'. S00000 498tl915 11 ofNY Mellon 0
Ftdtml honor Loan Bank I000,000 140'. N/A U3/W/15 09/14,13 WN4,[6 1162 14l'. 1"I10000 I Oat 4511 Bank oI`NN'Mellati 101-3390
Fcdcml Han,Loan Mongagr Cory.,., IAOo.00o 1'1% NA 03N9,15 oJ09/Le u3,39,1ti 983 115". IOn0,000 IOo_.%o Ban:ofNY Mellon 1..113110
Fcd,ral Nona.Mongagc Association 500000 II."'. MA 115:211,15 oill8/18 0/18/I6 1.053 1125% Snu.Uoo 49YI95 Ban:ofNY Mellon 0
Fcdcml National Mango,A.socmlion 50U.001l 1008. NCA Wis I5 1211i/19 116115,11 899 I min46 =040011 49v PO Bald:ofNN'M,IIon
FNcwlF.-CmdilBook SOOHoll 1162". NLA 115.2,15 06/2/I1 111/22,17 692 0635. 5111"Ho0 49A.L0 Book ofNY Melon 0
43.(11a.000 42.9Yin1111 42,943,nHH 429]7.49< 47.1111593n
CoNumI,NM,s
Genoa]Fkome Cupiml C.Mnalion U 071% AI/AA— M,13-12 O1:13'6 NIA M oR% 1 n Bank afNY Mdlan IOOIL090
0 0 0 1d110n,090
cane u,Paal.
,UbBadCU ''Unto 1G90 NA 7.92,1'_ 7'1713 NA 1_1 IU '_0111100 2100AW Bad:nFNY M,11on '_HUMµ)
200.H0o 2W 110 201,J45 2110W)
C, 1,Nli
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TREASURER'S MONTHLY REPORT
DEL AIL 01;IN VESTMENFS
June 30, 2015
Par Coupon Purehaze Manairy Fim/Nex2 Opuonal D., Yield Adjusted Caregory (memorule) PriorQn
Value Rare Ra MIL Dole Dare Call Dam o) M.iourn, m Martin nn CygBass Tmal Market\'Bloc Smnuc Markel Value
M1ledmm Tem,Imnsinw,ns
1 I vear to 3 veomy
I mu De'-o"
GP Cap Retail Bank CD 200.000 I35°. N,A 7%20/12 7,20V16 NA Iee 115°. 200,000 201493 Balk of NY Mellon 201999
(if(S,,Bank CO 200,000 1W. N,A 7,20/12 9/20/lo MA 386 1.35'. 200,060 201491 Bank i NYMellon IN899
Galdnwn Sachs Bank CD 200,000 1.8011. N/A 225112 12YI7 N,A 756 1.804. 198,600 203794 dank of NY Mellon 204250
Dis m et Rank CD 260,000 120'. N/A 2%26,,12 1QW I] N/A 959 1 70°. 204000 20.381 Bank of M'Mellon 10191K,
800,000 2986W 910,164 811.838
C.S.Gads Agenry Seca.."
Federal National Mnrtgagc Assocauon 2.000' O 1.10'. .WA 0311J11 03//12,18 W1_IS 986 1.109. 2,00,000 2,001,360 Bank of NY Mellon 2,001,100
Faancag Cargo raion(FICOI 500,000 980'. N,A 04,06'88 04,06'18 N,A 1,011 9.Sn. 493194 619J 3 Bark of America 630.629
2,500,000 2498,594 2,620.803 2,632,129
Toml ln"'edCsh 5 130.861,16[ S OIBB7.334 S 131,979.715 S 116 397 121
Coner,Quarter Portfolio Yield 002°-; 074'.
11."mhnark 1'idds Poor Quart"
12 Month LAIF Average 0Y1°. Parllalm Yield
2 Year Constant Maturip Treasury 117s.
*Interest lnmine for the Quarter Ending 0i,lo,2015 21 u95
'Boss ammunt before deducnlon of mcestmem related fees
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ux39¢u1s
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
June 30, 2015
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 131,887,334 $ 131,887,334
$ 131,887,334
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency-Bank of America 1,154,263 N/A N/A open None 1,154,263
Downpayment Assistance(Housing 33,894 0.15% N/A open 0.15% 33,894
Fund)-Bank of America
Workers Compensation-Bank of America 34,310 N/A N/A open None 34,310
General Liability-Bank of America 29,713 N/A N/A open None 29,713
1930's General Store Museum-Bank of America 10,745 N/A N/A open None 10,745
On-Line Credit Card Fire Inspection Fees 12,550 N/A N/A open None 12,550
-Bank of America
On-Line Credit Card Transportation Permits 1,663 N/A N/A open None 1,663 1,281,090
-Bank of America
Total Cash Deposited $ 133,168,424
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07,130i2015
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TREASURER'S MONTHLY REPOR"I'
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
June 30, 2015
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Ratio e MaturiN to Maturity Cost Basis Total Market Value Source Market Value
1998 Airport PFC
InN esco Go,eminent&Agency Private 1,159,095 variable AAA open 0.01% 1,159,095 1159.095 Bank of NY Mellon 976,449
1,159,095
2002 Parking Structure
Cash 3 3 3 Bank of NY Mellon 3
Invesco Government&Agency Private 1 331 variable AAA open 0.01% 1331 1,331 Bank of NY Mellon 1,331
1,334
2004 Assessment District 161
Invesco Government&Agency Private (I variable AAA open 0 02% 0 0 Bank of NY Mellon 522,074
0
2004 Assessment District 162
Invesco Government&Agency Private 0 variable AAA open 0.02% 0 0 Bank of NY Mellon 227,629
0
2005 Assessment District 164
Invesco Government&Agency Private 0 variable AAA open 0.02% 0 0 Bank of NY Mellon 470,692
0
2006 Airport PFC
Invesco Government&Agency Private 2,356,674 variable AAA open 0 02% 2,356.674 2,356,674 Bank of NY Mellon 1641,469
2,356,674
2007 Refunding Lease Revenue Bonds
Invesco Government&Aivory Private 0 variable AAA open 0.01% 0 0 US Bank 1,306,069
0
2007A&B Tax Allocation Bonds
Invesco Government&Agency Private 368,272 variable AAA open 0.01% 368,272 368,272 US Bank 368,267
368,272
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07/302015
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
June 30, 2015
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Rating M tool to Manotty Cost Basis Total Market Value Source Market Value
2007C Tax Allocation Bonds
lnvesco Government&Agency Private 340,221 variable AAA open ODD% 340,221 340,221 US Bank 340,216
340.221
2008 Airpon PFC Refunding
lnvesco Government&Agency Private 609,467 variable AAA open 0.02% 609,467 609,467 Bank of NY Mellon 609,358
609,467
2012 Downtown Revitalization Lease Revenue Bond Reserve
lnvesco Government&Agency Private 3,190,506 variable AAA open 0.01% 3,190,506 3,190,506 Bank of NY Mellon 3,189,928
3,190,506
2012/2014 Convention Center
First American Government Obligation 12,671 variable AAA open 0.01% 12,671 12,671 US Bank 12,677
12,671
2014 Merged Project I &2/I1ousmg Refunding
First American Government Obligation 419486 variable AAA open 001% 419,486 419,486 US Bank 419,479
419,486
2015 Reassesment District No.2015.1
First American Government Obligation 288.026 288,026 288.026 US Bank 0
288,026
2015 Local Measure A Sales Tax
First American Government Obligation 6,595 998 6,595,998 6,595 998 US Bank 0
6.595,998
Che%iowCoGen Lease Proceeds
Cash 754,975 754,975 754975 Deutsche Bank 1,142,120
754,975
Funds With Century Golf 1,337,946 1,337,946 1,337 946 Century Golf 1,505,051
1,337,946
'totals 17,434,671 17.434,671 $ 12,732812
vcasrep
07.902015
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
June 30, 2015
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.50%
1 year to 3 years N/A 50.00% 2.50%
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% 0.76%
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% 25.27%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 5.25%
LAIF N/A 100.00% 29.25%
U.S. Government Agencies N/A 60.00% 34.49%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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07/30/2015
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