HomeMy WebLinkAbout7/1/2015 - STAFF REPORTS - 2.F. 4°F?ALM Sp4
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City Council Staff Report
DATE: July 1, 2015 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
MAY 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 May 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
$126,164,228 plus $19,742,972 bond issue capital projects, reserve and debt
service funds. There is an additional $1,358,630 in various miscellaneous/trust
accounts. The market value of the invested cash is $126,298,804.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of May 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
July 1, 2015— Page 2
Treasurer's Investment Report as of May 31 , 2015
The weighted average maturity (WAM) of the portfolio is 367.47 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
cP , Q
Geoffre Kiehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
May 31, 2015
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 3,359,895
CalTrust ShortTerm 29,315,913
CalTrust MidTem 7,919,599
State Pool 38,578,626 $ 79,174,034 62.75%
Short Term Investments
(I year or less)
U.S. Gov't Agencies 43,493,000
Corporate Notes 0
Time Deposits 200,000 43,693,000 34.63%
Medium Term Investments
(1 year to 3 years)
U.S. Gov't Agencies 2,498,594
Time Deposits 798,600 3,297,194 2.61%
Long Tenn Investments
(3 year to 5 ears)
0 0 0.00%
$ 126,164,228 100.00%
treasrep
05/18/2015
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
May 31,2015
Par Coupon Purchase Matmav FnavNexi Optional Days Yield Adnard Car,., (memo only) Prior Qn.
�yi 6 EM Riding ki Ig Q3t£ Call Djt, to Maturn, to Macon, Cost Bron jgyl Market Value Source Market Value
On('all Dc,onaa
(backing-Hank of America S 3,159.995 N/A AAA demand NIA 1 None 3359,895 S 3,359,995 Bank of America 3,467,199
C,iHmst Shonterm 29,000,000 .,able NA demand NIA 1 0.45% 29,315,913 29,326940 CalTtnst 20,311589
Caffrusl MidTenn 7,500000 variable FA demand N/A 1 OJ)5d 7,919,599 7,901930 C1alTmet 9,899,561
Local Agency Invest Fund fl.AB') 385000M) enable N/A demand NIA 1 0290'. 18.578,626 38,193430 LAH 31070,170
78,359,991 79,174034 79,181195 64,946,525
Shon Term Investments
(I year or less)
U S Gov'I Agency Securities
Federal home Leon Bank 0 150%. N/A 07,15114 07115,19 04/15,15 0 1.50% 0 6 Bank,FNY Mellon 2,000,740
Federal Natonal Mongage Association 0 2Wk N/A M/30/14 1M/30/19 04/30/15 0 200. 0 0 Bankof NY Mellon 2,003,040
Federal National Mongage Aasocietmn 0 1MI. N/A 08/48/ ' OV18A7 0528/15 0 LOW/° 0 0 Bankof NY Mellon 997,920
Federal National Mangage.Association 0 110°. N/A 08/28/12 08128/17 05I28/15 0 1.IV% 0 0 Bank of NY Mel Ion 2,001980
Federal Home loan Bank I,000000 045% N/A 05N9/11 05109,16 06/01,11 3" 041% IW0000 999450 Hank of NY Mellon 999,240
Federal Farm.Credit Bonk 1000W0 081% NIA 08115I12 02/15/I9 06/01,15 626 0.85% 999,0W 1WO,030 Bank of NY Mellon IW0,070
Federal Farm Credit Bank 2,W0,000 098% N/A O9,15/12 08/15,17 06/O1,15 809 098% 1,999,OW 1998,780 Bank cf NY Mallon 2000,160
Federal Home Loan Bank 2,000000 100% N/A 09/18/12 09/18/17 06/01/IS 841 100% 1.999000 LW9480 Bank of NY Mellon 1996.280
Federal Farm Ceda Bank 2,O0a)000 112°o WA O1,20//13 02I20,l8 06/01/15 996 112% 2000000 2,000,100 Bank of NY Mellon 2.000,220
Federal Home Loan Bank 10W WO 095% N/A 0529/13 05,29/18 06101,15 I,tH4 095% 1,000,000 100,930 Bank of NY Mellon Icou'990
Federal Home Loan Bank I,Wg000 0.801. N/A 06/12W 06112/I8 66/12,11 1,108 0.80°6 1,000,00) I000,210 Bank of NY Mellon 1001,160
Federal Home Leon Mortgage Copomomn 2,000,000 1.0016 N'.4 f920112 09120,17 06/20,I5 843 100% 201111,O0) 2W1000 Bank of NY Mel Ion 2003,240
Federal Home Loan Mortgage Corporation 2,000000 120°/e N/A 03R0/11 0320,118 06/20,15 1024 120% 2,000,OW 2001,140 Bank of NY Mellon 2003,"0
Federal Home Loan Bank 2,0W,W0 1001. N/A 0620/13 06/20/1a 66/20,15 1,116 100%. 1,998,000 2,000.820 Bank of NY Mellon 2.002.260
Federal Hume Loan Mortgage Corporation IOW,000 1.25% WA 03/25/15 09/25/18 06/2141 1211 1.25% I00,000 IW0,610 Bank of NY Mellon 1001360
Fed eral Home Loan Hank [,000-000 138% NIA 03/26115 03/26/18 06/26/15 1930 138% 10011J100 1,000,780 Bank of NY Mellon 1001810
Federal Home Loan Mortgage Corporation 2'"W0 IN% N,,A 0929/12 0929/17 06/27/15 850 104% 2,000,0W 2W1,I80 Bankof NY Mellon 2.002,000
Federal Natural Mangage.accm,mmn 2,tNp,000 1.09% N/A 09/27/12 09/27,117 06/27g5 850 1 09%. 2.000,000 L9 6,500 Bank of NY Mellon 1 992,380
Federal Home Loan Mortgage Corporation I,O00,000 185°o WA 03/30/15 03110,20 06/30,15 1,761 181% IOINLOW 1001200 Bank cf NY Mellon 1002,350
Federal Home Loan Mortgage Corporation 1000,000 1009t N/A oil I Ill OUII/18 0711]/15 956 1001'. I'Mm000 997,830 Bank of NY Mellon 997,770
Federal Home Loan Mortgage Corporation 2,0W,000 105% NIA 01/16/13 01/16,19 07/16,15 %1 105% 2.000,00) 2,002,440 Bank of NY Mellon 2.000,820
Fedanl Home Loan Mortgage C-anatmn 2000,000 1.15% NIA 1425/13 04125/18 O7/25/15 1060 1.15% 200gOW 1W8.7760 Bank ofNY Mellon 1998,920
Federal Nanmurl Mongage.Associmioo 4,0000W 103% NIA 01130/15 01901,18 07/30/15 995 1u94. 4,000,000 3,993,200 Bank of NY Mellon 4003,040
Federal Home Loan Bank I,OW,OW 100% N/A 01/30/13 01/30/18 07/3WI5 975 100% 1.00.000 998450 Bankof NV Mellon 998.400
Federal Home Loan Bank 1'"'000 101% NA 02/12/13 02/12118 03/12,15 988 105°. 1000,00) 997,230 Bankof NS'Mellon 997,660
Federal Home Loan Mortgage Corporation 1,000,004, 1.25% N/A 02/20115 022WHI 08/20,15 996 125% 1,000,OW 99990 Bank of NY Mellon 999,350
Federal National Mongage.Associatom 2000,0W 1.03% NIA 05/21/13 0521/I8 68/21,15 1086 103% 2.000.000 1,987,72O Bank of NY Merl Ion t989.4W
Fedeml Home Loan Mongage Corp0m00n I,OW_000 1625% N/A OS/21115 OS/21!10 08/2I/IS 1312 1621% 1.01m,ow 996.930 Bank of NY Mal Ian 0
Federal Farm Credit Bank 500000 109'. N/A 05/26/15 0',26/18 08126,15 1002 109% 500,000 499,360 Bank of NY Mellon 0
Federal Farm Credit Bank 5W000 098% NIA 05/27/15 11/29/17 09/27,15 911 098% 500.00) 499,70) Bank of NY Mellon 0
Federal NaDmol M1l0ngage Association L000.000 120li, N/A OL21115 02127/18 08/27/15 1.003 1.20% 10000W I,W1,320 Bankof NYMellmn 10018W
Federal National Mongage.9ssenation 500,001 100°/e NIA 0512VIS OV22/I8 02/22,16 998 100% 1(mo. 499.175 Bankof NY Mellon 0
Federal Home Loan Bank 1,0W,000 140% N/A 03/04/15 09/04/18 03/04/I6 F192 1.40% 1.000,0W L002,520 Bank of NY Mellon 1003.580
Federal Home Loan Mongage Cm,mommr 1,000,000 1.25% NA 03/09/15 03/09/18 03/09/16 1013 1.25% L000.0W 1.003.10) Bankof NY Mel Ion 1003.290
Federal National Mongage Association AWOW 1121% N/A 051.10/1, 05/I8/18 05118/16 I,083 1121% 500,00t) 499,410 Bankof NY Mellon 0
Federal Farm Credit Bank 500,000 0625°. N/A 05/22/15 05/22/19 0522/L7 722 0.63% 500,OW 499,105 Bank of NY Mellon 0
43,500,000 43,493,000 43493.000 43.498,900 47,005,930
C......c Notes
General Electric Capital Cetperatmn IOgLOW 0.931. AI/AA, 04/13112 04/13/15 NIA 0 073% 0 0 Bank of NY Mellon 1000,tp0
IO 'O'n) 0 0 1000,090
Tmte Uepnans
Ally Bank CD 200,000 1.15'. N/A 929/12 927/15 NIA 59 1.15% 2000W 20Q324 Bank pfNY Mellon 2006(39
200.000 200.000 200,324 200.609
I.."
O1/11,2111,
TREASURER'S MON I IILY REPORT
DETAIL OF INVESTMENTS
May 31,2015
Par Coupon Pum6ase Maturity Fo.,Wea 0pnoml Days Yield Adored Caegory (memo only) Prmr Qtr
V49 Rate Racine Daze Date ICI Dwe M)�urt to3oM yr_iy Cost Buses Total Marko Viloe Source Market Value
4lediom Term lnvexttnents �
f I vau to 3 ycas)
Time➢ep—is
G Cap Raul Butt CD 200.000 1.35". N/A 7/20112 920116 NA 416 135% 200,000 201.812 Ban oFNY MdIon 201,899
U Cap Ban CD 200,000 135%. N/A 7,,120,12 T20A6 N/A 416 1.35%. 200.000 201912 Bank of NY Mellon 201999
Gnldma,Saclm Bank(D 200000 1.80% N/A M5i12 2/25/17 NA 286 1W'. 198,600 203,970 Bxelk of NY Mellon 204,250
Di9o,T BON:CD 200060 17M° N/A 7126112 9/26/19 NA 989 17V^a 20Q000 203.542 Ban ofNY Mellon 20)]91)
800,000 79RfiN 811,135 911838
US WO Agency Securities
Federal National Motlgage Amoastmn 2,000.000 1.10°. N/A 03/11A3 03/12/18 03/12/I9 101ti 1.10°< 2000,000 2.002,740 Bank of NY Mellon 2,001500
F anclog Coryomtion(FICD) 500000 9.80% N/A 04,06,88 04A361I8 N/A 1041 9.8U 499,594 623.SIo Back ofA..ce 630.629
2,500,000 2,496,594 2.626250 2612,129
Total rnvesled Cah f 12b.159,391 F 126,164,229 5 12Iy298,804 S 116397,121
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
May 31, 2015
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Cat"ory Total
Total Invested Cash $ 126,164,228 $ 126,164,228
$ 126,164,228
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency-Bank of America 1,114,343 N/A N/A open None 1,114,343
Downpayment Assistance(Housing 33,890 0.15% N/A open 0.15% 33,890
Fund)-Bank of America
Workers Compensation-Bank of America 55,961 N/A N/A open None 55,961
General Liability-Bank of America 26,235 N/A N/A open None 26,235
1930's General Store Museum-Bank of America 10,781 N/A N/A open None 10,781
On-Line Credit Card Fire Inspection Fees 107,300 N/A N/A open None 107,300
-Bank of America
On-Line Credit Card Transportation Permits 6,170 N/A N/A open None 6,170 1,358,630
-Bank of America
Total Cash Deposited $ 127,522,858
treasrep
05/18/2015
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
May 31, 2015
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Rating Malcom to Maturity Cost Basis Total Market Value Source Market Value
1998 Airport PFC
Invesco Government&Agency Private 1,098,253 variable AAA open 0 01% 1,099.253 1,098,253 Bank ofNY Mellon 976,449
1,098,253 '..
2002 Parking Structure
Cash 3 3 3 Bank of NY Mel Ion 3
Invesco Govemment&Agency Private 172 variable AAA open 0.01% 172 172 Bank of NY Mellon 1331
175
2004 Assessment District 161
Invesco Government&Agency Private 3 variable AAA open 0 02% 3 3 Bank of NY Mellon 522,074
3
2004 Assessment District 162
Invesco Government&Agency Private 2 variable AAA open 0.02% 2 2 Bunk of NY Mellon 227,629
2
2005 Assessment District 164
Invesco Government&Agency Private I variable AAA open 0.02% 1 l Bank of NY Mellon 470,692
1
2006 Airport PFC
Invesco Government&Agency Private 2,231 610 variable AAA open 0.02% 2,231,640 2,231,640 Bank of NY Mellon 1,641,469
2,231,640
2007 Refunding Lease Revenue Bonds
Invesco Government&Agency Private 0 variable AAA open 0.01% 0 0 US Bank 1,306,069
0
2007A&B Tax Allocation Bands
Invesco Government&Agency Private 368270 variable AAA open 0 01% 368,270 368,270 US Bank 369.267
368,270
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05/18/2015
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
May 31, 2015
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Ratine Maturm, to Maturity Cost Basis Total Market Value Source Market Value
2007C Tax Allocation Bonds
Invesco Goverment&Agency Private 340,219 variable AAA open 0.01% 340,219 340,219 US Bank 340,216
340,219
2008 Airport PFC Refunding
Invesco Government&Agency Private 609,455 variable AM open 002% 609455 609,455 BankofNYMellon 609,358
609,455
2012 INtwntown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 5,426,416 variable AAA open 0.0t% 5,426,416 5,426,416 Bank of NY Mellon 3,189,928
5,426,416
2012/2014 Convention Center
First Amerman Government Obligation t2,671 variable AAA open 0.0t% 12,671 12,67t US Bank 12,677
12,671
2014 Merged Project I &2/Housing Refunding
First American Government Obligation 419,483 variable AAA open 001% 419,483 419,483 US Bank 419,479
419,483
2015 Reassesment District No.2015-1
First American Government Obligation 288,024 288,024 288,024 US Bank 0
288,024
2015 Local Measure A Sales Tax
First American Government Obligation 6,595 964 6,595,964 6,595 964 US Bank 0
6,595,964
Chevron/CoGen Lease Proceeds
Cash 754,975 754,975 754,975 Deutsche Bank 1,142,120
754,975
Funds With Century_ Golf 1,597,417 1,597,417 1,597,417 Century Golf L505,051
1,597,417
Totals 19,742,972 19,742,972 $ 12,732,812
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05i1812015
TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
May 31, 2015
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.39%
1 year to 3 years N/A 50.00% 2.61%
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% 0.79%
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% 23.24%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 6.28%
LAIF N/A 100.00% 30.58%
U.S. Government Agencies N/A 60.00% 36.45%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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05/18/2015
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