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Y c411FORN�P' City Council Staff Report
DATE: September 2, 2015 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
JULY 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 July 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
$126,395,093 plus $16,150,040 bond issue capital projects, reserve and debt
service funds. There is an additional $1,240,091 in various miscellaneous/trust
accounts. The market value of the invested cash is $126,517,323.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of July 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
September 2, 2015— Page 2
Treasure's Investment Report as of July 31, 2015
The weighted average maturity (WAM) of the portfolio is 376.47 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
GeoffrecgSKiehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
July 31, 2015
On Call Deposits Adiusted Basis Category Total Percentaee
Checking Account $ 2,240,160
CalTrust ShortTerm 32,837,880
CalTrust MidTerm 5,925,258
State Pool 38,103,101 $ 79,106,399 62.59%
Short Term Investments
(1 year or less)
U.S. Gov't Agencies 43,491,500
Time Deposits 400,000 43,891,500 34.73%
Medium Term Investments
(1 year to 3 years)
U.S. Gov't Agencies 2,998,594
Time Deposits 398,600 3,397,194 2.69%
Long Term Investments
(3 year to 5 ears)
0 0 0.00%
$ 126,395,093 100.00%
treasrep
p 08/19/2015
TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
July 31.2015
Par Coupon Feel'. Miriany FAIN,,0,uonal Days Yield Adjusted ('are5ory Inert only) Pr'n,Qn
Value Bee Rain¢ Date Data Call Da a l0 4� to Manor, Cost Bull Total Mukei Value $pyrce Market Value
Dn Call Dcpaslis
Checking-Bank of America $ 2140,160 N/A AM delrwld N.1 I None 2240-160 S 2240,I6o Bank of Agecc. 6,509.161
Ca[Trost ShorrTerm 32,500,000 iwable N/A demand N/.4 1 04q% 32,937,890 32-821.183 C.ITImJ 3 3 3 08--001
CNTmst MrdTena 5,500000 nwiaMe N/A dwlaM NA 1 082% 1925,258 1-12,063 CilTtust 6.900-814
Local Agency Invest Fund CAIFI 38.000do) cwiable NIA denwM NIA 1 0.320% 39,103,101 38.1 17.427 LAIF 38,191111
78240,160 79,106399 79,090,833 85,371,12g
Shon Term Inves0acros
l 1 ywrorl�)
U.S.Gov Agency Secwines
Federal Farm Credit Bank 2000000 098% NA 09/11,12 08,1S/17r 0&lll/IS 746 098% 1,997.000 1998740 Bank of NY Mellon 19985u)
Federal Home Loan Bu& 2,000000 100% N/A 09,18,12 09/18/I7 08'el15 980 100% 1,999,000 1,999,080 Bank oM Melba 1ti
Federal Farrar Credit Bank 2,000.000 1.12% N/A 02/,0'13 02/20/18 08,01,15 935 1.124. 2,000,000 2,000.100 Bank of NY Mellon 2004220
Fed...I Hmce Loan Bulk 1,000000 075% N/A ON2916 01,29,18 08m1/15 103 071% 1CaW),000 100q760 Bank f.NY M911on I,O00,430
Federal Hone Loan Bank 1,000000 105% N/A 02/12/13 02i12118 0811 M5 927 105% 1000-000 991,110 Bank ofW Mellon -97,270
Federal Home Loan Mortgage Corporation 1000,000 125% NIA 02/20/15 02/20118 08C0115 935 125% 1000,000 998.950 Bank of N\'Mellon 999.710
Federal National Mortgage Acmewon, 2000,000 103% N/A 05/21/13 U5,21/18 09,11/15 1025 103% 2000000 1989,920 Book ofeY Melba 1986320
Federal Home Loan Mortgage Corpomlaw 1000,000 1,625% N/A 01,21,15 05,2I20 08p1115 1756 1.,25% 1,000.000 996.500 Bank of NY Mellon 992.0f)
Federal Farm Credit Bah 500000 1091. N/A OS1261I5 02/26118 06126115 941 IIN90 o00,000 500,245 Bank of NY Mellon 499,955
Fred...I Farm Credit Bank 500000 098% N/A 01/27,15 11,27117 08/7/15 850 098% 50f1,000 500.120 Bank ofNY Mellon 500.070
Federal National Mungage,Aasociatmn 1000,000 IIV, NIA 0227/IS 02%27,98 O827115 942 120e IOOO.000 10D0E20 Bank of NY Mellon 1000,810 i
Federal Home Loan Bank 1,000000 0.NI% N/A Do/12/13 06,12,18 09,11,15 1049 0.8v. 10W,000 1000,660 Bank of NY Mellon 1.000,2811
Federal Home Loan Mongage Corpoerrion 2000000 I,OIP.'e N/A 09/2012 09/20/17 09CW15 782 1009'. 1".000 2.002280 Bank of NY Mellon 2003,400
Fednal Hone Loan Mongage(oganalion 2.000,000 12Oe N/A O3/20,13 03/20all 09/2W15 963 1209E 200),000 2,000280 Bank ofNY Mellon 1,999,640
Federal l lorre Loan Bank 2,000000 100% NIA O6'2093 06/20'18 0920/15 1.055 1,00°.b 1998.000 2,o,1.726 Bank cfW Mellon 2-000,40.
Federal Hoare Low Monynye(or,oralaw 10injori 121-/ N/A 03/25/1, 0925118 0925711 1.152 12". 1,000,000 Ip01310 Bank of NY McRon 1001390
Fad...I l tome loon Mongage Colpomlion 2000,000 10495 N/A 09122%12 09,27/17 09g9/15 989 1.041, 2,",000 2,002.300 Bank 0f NY Mellon 2,002,540
Fed...I National Mongage&-return 20oQ000 107b N/A 09,127,12 09,27/17 D9/27115 789 107. 3,00t),000 2,002.600 Bank.1 NY Mellon 2003,36O
Federal Hone Loon lbReage Co,,anan 1000,000 1.0% N/A 03/30/15 03/30120 093015 1,704 185% I000,000 1002250 Bank OFW Mellon 999000
Federal Hume Loan Mongage Coryorchan 1000,000 I,Mf. N/A 01,11,11 01%II/I9 10%1ldI 895 100.E 1,000.000 998,630 Bank of NY Melba 994390
Feder al llone,Low Mongage Corporwion 2000,OOO 105% N/A 01/16,113 01/Hag 10,16,15 900 105% 2000,000 2002,730 Bank oM Mellon 2000820
Federal Her-Loan Mongage Coryoration 2,000000 1.15% N/A N/251I3 04/25d8 1025115 a" 1.15% 2,000.000 1ya7,92() Bah of NY Mellon 19a6.980
Federal No Tonal Mnngoge Ayleeitmn 4000.000 101'. N/A 01,30,13 01/30/18 10/3W 11 914 1039d 4000,000 4,006,520 Bank of NY Mellon 4003,Iran
Federal l Were,Low Bank 1,000,000 1 00% N/A 01/30/13 01,30119 10,30/15 914 1.W. I.000.000 995.590 Bank of NY Mellon 998,020
Federal Hoare low Bank 1000000 121% N/A 07/29,15 07/2920 0129116 1825 125% 997100 997620 Bank of NY Melon 0
Federal Monte Co.Mongage Cotpnrcuim 1000,000 1ir^, N/A 0929/I� 07,29/20 01CW]6 1825 ISO°-. 1,000000 1,02,010 Bahof NY Mellon 0
Federal Nair nonal blonuge Asvelabn 500000 IW. NIA 0522,11 O2,22r1a 1"22116 937 100°a 500.000 499,105 Bank Of NY Mellon 498995
Federal Horre Low Bwk 1,000,000 14V. N/A 03/04/15 09/04/18 03104%16 1,131 14@. 1000000 1001,140 Bank of NY Mellon 1000450
Federal Huns Loan Mongage Coryomhaa 1000000 125% N/A O3/09,15 03%09118 03%0r,In 952 125% IOLb.000 1062.`rM Bank Of NY Mellon 1001580
Fede"National Mongage Asenciarbn 100000 11251. N/A 05C0/15 OS,18118 05/18%16 1022 1125% 1C 000 499,965 Fork of NY Mellon 499,195
Federal Nalimeal Mongage Asodwion 500000 IA09b N'A 06115,15 12%15/17 06,15116 868 1 % Smoot) 499,8ii Dark Of Nt'Mellon 499,))0
Federal Hoare Low Balk 1000000 125% N/A OL2955 07%2920 1192911E 1825 125°6 I(100.0n0 9Q7,700 Bank of NY Mellon 0
43500,00r) 41491500 43,497,600 40.479265
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TREASURER'S MONTHLY REPOR 1'
DETAIL OF INVESTMENTS
July 31,2015
Par Cnu'n Purchase Mau"n, Firsv Nem Optional Days Yield Adjusted Caegory (inemo only) Prior Qn
Value Raze Raee Dek Date Call Dan to�ily 1..M� coo B." Told NfarkutA'due Snurre Markel Value
Shon Term Invesmenn
(I year or Iesa)
Torre Depo.ats
CIE Cap Retul Bank CD 200,000 1.391 N/A 7,20/12 7120116 N/A 355 1.450a 200,000 201328 Bank of NY Mellon 201493
fig Cep Hank CD 200000 135% WA 9%20/12 1/20/16 NIA 355 135°ie 100,000 201328 Berk of NY Mellon 201,493
40Q000 4000W 402,657 40'_936
Me Fen I year n lnvcstnrents
( year m]veors)
'Omc D„ygsna
Goldman Soehs Bank CD 2000W 1.80'. N/A 9125/12 7,25117 N/A 72S 1.80.. 1996W 201n20 Rank OfNY Mellon 203794
Diewver Bank CD 200,OW 1701. WA 2/2NI2 7,26/19 N/A 716 170'. 200W 203,22o Bank of NY Mellon 203983
400,000 3986 406,947 409.17E
❑.5 Gn 4.\eenry Securities
Federal Farm Credit Bank 500AW 0.6256 N/A 05/22/11 092297 05/22,12 601 06P. 5000fyl 498460 Rank ofNY ktellon 498.410
Fcrlcwl Nmiond MoneaBe Aawuauon 1W0000 110% N/A 03/1113 0311"I8 0/12/I8 955 110!. 2,OW,000 2,004980 Bank of NY Mellon 1001360
Fmancmg Corporation(HCO) 500 ON 9W. N1 0V0168 N/06/I8 N/A 980 9805e 499594 61�,947 Rank ol'Antenee 619.143
3,000,000 1999594 3,119,397 2,620.803
Turd loveied Cash S 125.540160 S 126.395A93 S 126.517,323 S 129281100
Current Quarter Portfolio Yield 0]I°-: 062°1.
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
July 31, 2015
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 126,395,093 $ 126,395,093
$ 126,395,093
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust& Agency - Bank of America 1,124,904 N/A N/A open None 1,124,904
Downpayment Assistance (Housing 33,899 0.15% N/A open 0.15% 33,899
Fund) - Bank of America
Workers Compensation- Bank of America 14,420 N/A N/A open None 14,420
General Liability - Bank of America 30,000 N/A N/A open None 30,000
1930's General Store Museum - Bank of America 10,136 N/A N/A open None 10,136
On-Line Credit Card Fire Inspection Fees 20,862 N/A N/A open None 20,862
-Bank of America
On-Line Credit Card Transportation Permits 1,920 N/A N/A open None 1,920 1,240,091
-Bank of America
Total Cash Deposited $ 127,635,184
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
July 31, 2015
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Ral—Ing Marini to Maturity Cost Basis Total Market Value Source Market Value
1998 Airport PFC,
Invesco Government&Agency Private 1,074,066 variable AAA open 0.01% 1,074,066 1,074,066 Bank of NY Mellon 1,159,095
t,074,066
2002 Parking Structure
Cash 3 3 3 Hank of NY Mellon 3
Invesco Government&Agency Private 356,672 variable AAA open 0.01% 356,672 356,672 Bank of NY Mellon 1,331
350.675
Aft Airport PFC
Invesco Goverment&Agency Private 1,019,Ot2 variable AAA open 0.02% 1,019,012 1,Ot9,012 Bank of NY Mellon 2,356,674
1,019,012
2007 Refunding Lease Revenue Bonds
Invesco Government&Agency Private 0 variable AAA open 0.01% 0 0 US Bank 0
0
2007A&B Tax Allocation Bonds
Invesco Government&Agency Private 368,274 variable AAA open 0.01% 368,274 368,274 US Bank 368.272
368,274
2007C Tax Allocation Bonds
Invesco Government&Agency Private 340,223 variable AAA open 0.01% 340,223 340,223 US Bank 340,221
340,223
2008 Airport PFC Refunding
Invesco Goverment&Agency Private 609,487 variable AAA open 0.02% 609,487 609,487 Bank of NY Mellon 609,467
609,487
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
July 31, 2015
Ym Coupon Yield Adjusted Category (memoonlv) PriorQtr
Value Rate Racine Mau rr� 10 Mamritl Cost Basis Total Market Value Source Market Value
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,190,610 variable AAA open 0.W. 3,1911,610 3,190,610 Bank of NY Mellon 3,190,506
3,190,610
10122014 Cori Center
First American Government Obligation 12,671 variable AAA open 0 0P. 12,671 12,671 US Bank 12,671
12,671
2014 Merged Project 1&'_/Housing Refunding
First American Government Obligation 419,488 variable AAA open 0 0146 419,488 419,488 US Bank 419.486
419,488
2015 Reassesment District No 1015-1
First American Government Obligation 288.027 variable AAA open 0 01% 288,027 288 027 US Bank 288,026
298,027
2015 Local Measure A Sales Tax
First American Government Obligation 6,596,030 variable AAA open 0 01'. 6,596,030 6,596,030 US Bank 6.595,998
6,596,030
ChevromCoGen Lease Proceeds
Cash 754.975 N/A N/A demand None 754,975 754.975 Deutsche Bank 754.975
754,975
Funds With Century Golf 1,120,501 N/A N/A demand None I,120,501 1,120,501 CenturyGolf 1,337,946
1,120,501
Totals 16,L50,040 16,150,040 $ 17 434,671
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
July 31, 2015
By Maturity: Minimum Maximum Current Mo.
I day to 365 days N/A N/A 97.31%
1 year to 3 years N/A 50.00% 2.69%
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% 0.63%
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% 25.98%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 4.69%
LAIF N/A 100.00% 30.15%
U.S. Government Agencies N/A 60.00% 36.78%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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