HomeMy WebLinkAbout6/3/2015 - STAFF REPORTS - 2.G. PALM Sa
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f cq41FOR0�PA City Council Staff Report
DATE: June 3, 2015 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
APRIL 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 April 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
$119,417,275 plus $18,589,882 bond issue capital projects, reserve and debt
service funds. There is an additional $1 ,305,675 in various miscellaneous/trust
accounts. The market value of the invested cash is $119,592,761.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of April 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
June 3, 2015— Page 2
Treasurer's Investment Report as of April 30, 2015
The weighted average maturity WAM of the portfolio is 387.87 days. The
9 9 Y � ) p Y
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. Kehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
April 30, 2015
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 7,626,634
CalTrust ShortTerm 23,308,347
CalTrust MidTerm 8,915,475
State Pool 33,078,626 $ 72,929,081 61.07%
Short Term Investments
(1 year or less)
U.S.Gov't Agencies 42,991,000
Corporate Notes 0
Time Deposits 200,000 43,191,000 36.17%
Medium Term Investments
(1 year to 3 ears)
U.S. Gov't Agencies 2,498,594
Time Deposits 798,600 3,297,194 2.76%
Long Term Investments
(3 ear to 5 ears)
0 0 0.00%
$ 119,417,275 100.00%
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
April 30,2015
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
April 30, 2015
Yield Adjusted
Par Value Coupon Rating Maturi to Maturiry Cost Basis Category Total
Total Invested Cash $ 119,417,275 $ 119,417,275
$ 119,417,275
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency-Bank of America 1,050,373 N/A N/A open None 1,050,373
Downpayment Assistance(Housing 33,886 0.15% N/A open 0.15% 33,886
Fund)-Bank of America
Workers Compensation-Bank of America 77,135 N/A N/A open None 77.135
General Liability-Bank of America 30,000 N/A N/A open None 30,000
1930's General Store Museum-Bank of America 8,246 N/A N/A open None 8.246
On-Line Credit Card Fire Inspection Fees 96,541 N/A N/A open None 96,541
-Bank of America
On-Line Credit Card Transportation Permits 5,543 N/A N/A open None 5.543 1,305,675
-Bank of America
Total Cash Deposited $ 120,722,951
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
April 30, 2015
Par Coupon Yield Adjusted Category (memo only) Prior Qtr
Value Rate Rating Maturitv to Maturity Cost Basis Tom] Markel Value Source Market Value
1998 Airport PFC
lnvesco Government&Agency Private 1,037,277 variable AAA open 001% 1037.277 L037.277 Bank ofNY Mellon 976,449
1,037,277
2002 Parking Structure
Cash 3 3 3 Bank ofNY Mellon 3
Invesco Government&Agency Private L331 variable AAA open 0.01% 1,331 1,331 Bank ofNY Mellon 1,331
334
2004 Assessment District 161
lnvesco Government&Agency Private 3 variable AAA open 0 02% 3 3 Bank ofNY Mellon 522,074
3
2004 Assessment District 162
Invesco Government&Agency Private 2 variable AAA open 0.02% 2 2 Bank ofNY Mellon 227,629
0
2005 Assessment District 164
Invesco Government&Agency Private l variable AAA open 0.02% 1 1 Bank ofNY Mellon 470,692
1
2006 Airport PFC
Invesco Government&Agency Private 1,766,478 variable AAA open 0.01 0 1,766,478 1,766,478 Bank ofNY Mellon 1 F41 469
766 478
2007 Refunding Lease Revenue Bonds
Invesco Government&Agency Private 0 variable AAA open 001% 0 0 US Bank 1,300069
0
2007A&B Tax Allocation Bonds
Invesco Government&Agency Private 368,269 variable AAA open 0.01% 368,269 368,269 US Rank 368.267
368,269
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
April 30,2015
Par Coupon Yield Adjusted Category (memo only) Prior Or
Value Rate Ratio e Maturity to Maturity Cost Basis Total Market Value Source Market Value
2007C Tax Allocation Bonds
Invesco Government&Agency Private 340,218 variable AAA open 001% 340,218 340,218 US Bank 340,216
340,218
2008 Airport PFC Refunding
Invesco Government&Agency Private 609,363 variable AAA open 0,02% 609,363 609,363 Bank of NY Mellon 609,358
609,363
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,189,955 variable AAA open 0.01% 3,189,955 3,189,955 Bankof NYMellon 3,189928
3,189,955
2012/1014 Convention Center
First American Government Obligation 1,418,539 variable AAA open 001% 1418539 1,418,539 US Bank 12,677
1,418,539
2014 Merged Project I&2/Housing Refunding
First American Government Obligation 419,481 variable AAA open 0.01% 419,481 419,481 US Bank 419479
419,481
2015 Reassesment District No.2015-t
First American Government Obligation 288,023 288,023 289,023 US Bank 0
288,023
2015 Local Measure A Sales Tax
First American Government Obligation 6,595,953 6,595,953 6,59 i,953 US Bank 0
6,595,953
ChevrowCOGen Lease Proceeds
Cash 935,305 935,305 935,305 Deutsche Bank 1,142,120
935,305
Funds With Century Golf 1,619,681 1,619,681 1619,681 Century Golf 1505,051
1,619,681
Totals 19,589,992 18,599,992 $ 12,732,912
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05/18/2015
TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
April 30, 2015
I
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.24%
1 year to 3 years N/A 50.00% 2.76%
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% 0.84%
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% 19.52%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 7.47%
LAIF N/A 100.00% 66.16%
U.S. Government Agencies N/A 60.00% 38.09%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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