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c'0<�FORN�P. City Council Staff Report
DATE: May 6, 2015 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
MARCH 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 March 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
$116,224,082 plus $12,732,812 bond issue capital projects, reserve and debt
service funds. There is an additional $1,331,475 in various miscellaneous/trust
accounts. The market value of the invested cash is $116,397,121.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of March 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. 2, 1
City Council Staff Report
May 6, 2015— Page 2
Treasurer's Investment Report as of March 31, 2015
The weighted average maturity (WAM) of the portfolio is 461.14 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
002
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
March 31, 2015
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 3,467,199
CalTrust ShortTerm 20,300,563
CalTrust MidTerm 9,909,875
State Pool 31,058,252 $ 64,735,888 55.70%
Short Term Investments
(1 jear or less)
U.S.Gov't Agencies 46,991,000
Corporate Notes 1,000,000
Time Deposits 200,000 48,191,000 41.46%
Medium Term Investments
(1 year to 3 ears)
U.S. Gov't Agencies 2,000,000
Time Deposits 798,600 2,798,600 2.41%
Long Term Investments
(3 yearto 5 ears)
U.S.Gov't Agencies 498,594 498,594 0.43%
$ 116,224,082 100.00%
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
March 31,2015
Par Co.,. Purchase Ma.." FIa0Nenl Optional D., Yield Adjuslcd C.,mr, (memo onk) Rim ptr
Ylue Bnti B"a Pgk. BILL C,n uae tI M.."I to M21LV Cost Basis 1QW MaAe Volt Spiry Markel Win,
On Call Oe silo
Checking-Bank ofAmcnca S 3,467,199 N/A A k demwd WA I None 340.199 S 3467 too Bent,ol'Amon- 14011,
CmT—.ShonTcml 20,000000 cmosbi, WA demaM N/A 1 (14.% 2U504563 20]I15S.) Cnll." 112)6,1e3
CWTmat MidTnm 9,500AN eenable WA demsrd WA I U]4% Y.oOng71 9,99T567 1 WTm9 12839719
Local Agcnev lnwat Fund(LAIn 31000ON —Ale WA doom! NIA 1 0279% 3105g252 31.070170 LAIF 1_6045471
63N67,199 64,7358gg 64746„523 55618611;
Shoo Term Imeetmenn
1 I yemorlessl I
F1.5.GG0 Agency Secud;ics
Fodcal Home Wm Bmk 201% N/A 04/15/14 04,15,19 A14)115 11 0 0 Bank ofNY Mellon 2000.:1111
Fedsrnl Home loan Bmk I0N000 045% N/A 05/09/13 0109,16 04/01/15 405 045% I,090.0 Bmrk,fNY Mellon 49ej
Fcdcal Farm Cm mk ,00 ditB I0,000 O 8/I IIU,gS% N/A O S/12 02/till] UIIIS fig ^/) R8$ 99),000 411
00 IIIIXI W070 U]0 BmkuCNl'Mvllon 991X411
Fcdcy Fmm Credit Bond, 2,Co0,000 0SA% WA 0 5/12 08/15117 04/01/15 g6S .98% IY9),000 2.000160 Bank ufNY Mellon I Ogg.141,
Fodcy Homo Wan Bark 2.000000 100% N/A 09/1K/12 0.18,17 04,01115 W2 IOo%. IN99.)00 1996 780 Hank ufNY Mellon 199LAnn
Federal FOm Credit Bask 2,000Wll 1.12% N/A 0V20/13 021201/9 IWO1ll5 1u57 1.12% 2.0000U0 20011,2211 Bank,fNY'M01on IG11620
Feder!Home alum Bank IINO'No I75% N/A 0529/13 05,2911a 04,01115 I SS 075%. IyOU.Uon 10,109911 BankofNY Mellon o0(,all
Federal Home Lam Mortgage C.,omsoon Ipo0000 10(W1.. N/A OVII/13 UI1111ia 04/11/15 1.017 1.110% 1,000000 997,770 Bank cfNl'Mcllon 991020
Federal home Wm Bmk 2,000.000 ISO% WA 07115/14 07,15119 04/15115 1,567 LSu% 2,0000U0 2.00q]4(1 Bank ofNY Mellon 1,983,34n
Foslo lHome[,mon oge C9rpotafion 2,000,000 105% N/A OV16113 0111611a 04/16115 1,022 1.05% 2,000,000 2O00,320 Bank ofW Mellon 1,991920
Federal Home Wm Mortgage C,rporaioo 2000,000 1.15% WA 0421,13 042511a 04/25/15 1.121 1.15% 2,000000 19999211 Bmk ofW Mellon 1,992"no
Federal Naional Mortgage Assonmon 4000000 1 03% WA 0P30/13 01Invi8 14;3(Wl5 1,036 1,03% 4000001, J003p411 Bank ofW Mellon 3,95fi,600
Federl Ham,Wm Bmk 1,000,000 100°. N/A 01/30/13 01,30/19 0413611i 1036 LWYe 100000 99x400 Bank of NY Mellon 949.111,
Feder!Nmi.m]Mortgage Assoeim9v 2,000.000 2,W% N/A 0440/14 04110/19 04130115 1.491 200% 2,000000 2,001040 Bonk,fW Mellon 20114688
Federal Home Wm Bmk 10000N 1,05% WA 02112,11 02/12/19 A5112115 1NO I115% 1000NO 997,660 Bank ofW Mellon 91011911
Federal Home Wm Mengag,Cor,cmun 1000.n00 1.25% N/A 02/20/15 0220/I8 05/26/15 1.05] 126S. I'No(100 w9350 Book of NY Mellon 9go.111,
Focienl National Mortgage Am..o.9n 2000,N0 1.03%. N/A 05/21/13 OS/21/18 05/21/15 1.14] 1113% 2,000,NO 19g4400 Bank of NY Mellon I11619211
Federal National Mongag,Associa0on 100(unov 1.01W. N/A 09,29,12 08/23/17 052341 gal 100% 99g(NIO W920 Bonk NNY Mellon 9943211
Rated Nmioml Mongmgs ASsmution 2,WO,ON I.IV1, N/A Ug2g/12 0828/17 0523,15 891 1.10% 2.0000(91 2,001,980 Bank Of NY Mellon I9943W,
Federal Home Wm Bmk 1,000.0N 08011. N/A ON 12113 Cml2/1a 0611VIS 1,169 GOA 1GOGW1 1A01,160 Book of NY Mellon- 194 770
Fedsul Home Load Mortgage Curpoaian 2,W0,000 IOU% WA 092N12 N/20/17 062095 ON 1Nf. 2.000NO 1.u11324U Book of NN Moll- 1,9969U0
Federal Home Wm Mortgage Cm,,omnon 2000,000 1 2011. N/A 03/20/13 03/,20/18 0620a5 1 085 1 20f. 2 Ann.10, 21)03.640 Book If Mellon 1 999980
Federal Home lnm Bmnk 2.00A0 1GP/ N/A 0620/13 06120/19 06/2n/G A77 1n0"L. 199X 1NNt }000160 Bmk mf NY Mellon L9g69611
Feder!Home Wm Mortgage Cm,oGton 1WO.npn 125% N/A 03/25/15 Oo,25/18 06/2511i 1274 125".. 1 Ann N0 LOGO[360 Bon kofNI'Moll-
FaMnlHemeWmBark LWOGN 138% N/A 03/26/IS 0326/18 06/26/15 1091 13g%. IG00V, 1110I,810 Bonk ofNl'Md1on
Feder]Home i,m M,ngage Cap.— 2.000,NO 104 N/A 09,127112 09/2]/1) 06/27115 911 1114Y. 2.0110W0 200211ln Bork of NN MON- II'M120
FuMnl Nmlanil Mortgage Association 2(0(90U 107/e N/A 09/27/12 09,7/17 0627/15 911 1117% 2,000 MO 1192380 flank of NY Ncllon 1.996120
Fedeml Home i,m Mongogc C0lpomtion 1000,000 1.85% N/A 113/3(1/15 03/30/20 060/15 1826 185% I.NO.NO IOU2,350 Bmik of Nl Mellon
Fedeml Nation!Mortgage Association 1000,000 120% N/A 02127/15 02127119 O827115 1,0M 120% IGoo,w 1001,860 Bmk ofNY Mellon 999.110
F,deml Home Wm Book I,WO.000 140% N1A 03/o4/IS W04119 03/04116 1,253 140% 1NOWO 1,003,580 Bmk of NY Mellon
Fed,ml Homo Wm Mortgage Corp9rmon I.N0,000 125% N/A 03/09/15 03019/18 03119/16 1.0]4 125% IGO0000 1003390 Bank of NY Mellon
410040N 46 991.NO 46991000 47.005 930 43)35 tl1g
Corporeal,Notts
Genenl Blotto Capin CoMenstion 1,000.00 0.73% AI/AAA 14/13/12 04/13/15 WA 13 071% LWONO LAW1110 Bank of NY Mellon 1001230 '
1,000,000 1y00,000 10c0090 IAn1230
runt,oaVosin
M11,Bm@CD 200.00 1.15% WA 727,12 7121115 NIA 118 115% 200No" 21106f19 Bank ofNY Mellon 20110n0
200,000 21111,000 2n060v 20U non
..pry
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
March 31,2015
Poo Coupon Purchse Mxlwily FustiNexl Opuonal D., Y¢Id Adpoud ('aegpn (memo onhl Pnor Qlr
Yalu Km Ran, De1e p91€ Cell Dee to Moroni, In tn,(y Cost Beek{ Teol Markel V,d Soure Morket Value
Medium Term lnscslmenls
(1).to 3,'oars)
Tvrc Deposits
GE Cap Retail Bank CD 200,000 1.35% N/A 9/20/12 7/I01,16 N/A in 135% 21AIIX) 201,899 Bunk ofW Mellon 202,026
GE Cap Bmik CD 200,00(1 135% N/A 9120/12 2/2)/16 N/A 429 1,35% 2W.9110 201,899 Bonk or NY Mellon 202.026
Gold.SaeM1s Bank CD WO 000 180% N/A 7/25/12 725/12 N/A g41 180% 1986f 204,250 Bark ofNY Mellon 203,473
Discover Bank CD 21)U,000 1.70% NIA 7/26/12 7126117 NIA US 170% 2ui(KX1 203,790 Bank ofNY Mellon 202,964
800,000 798600 U1.938 Ali,489
U.S.Gmq Agen,Securities
Fedsel NmioNl M.M,,e Associeuon 2,W,, r0 1,10% N/A 03/12/13 Qd/I2/Ig 03112118 1/077 1.10% 2.00.,W) 2.Im1.5.0 Bonk ofNY Mellon I1131160
2-(N10.fU0 21NN1.000 100 1 5119 111ft111I)
Lon,Temi ItmGmrenl
(3 years to 5 years)
U.S.Gmh Agency Securiloo
Finoumg Corporation(FICO) swuk 9,X0% N/A 04106,98 tM Wix N/A 1.1112 9.90% 490r,, 631P.629 Benkof Ammo 6317Y1
5MrXN1 409,594 630.Qu 6)3.)X1
Tolel traded Cosh S 113,269A" S 116,224092 S 116397,121 S I62,M19926
Current Q,.der Portfolio Yield 074°/ 1129^s,
Bmrhnterk Yields. Prior Quarter
12 Momh LAID Average 235A. Ponfclm Yield
2 Yeor Coremnt Mspnn,I're.n, a 52%
-Inlereal Ireome for 16e Qtwtlzr,Ender, 113/31,^(1U 2411274
-Gross a viernl before deduction of im'stment related fees
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
March 31, 2015
Yield Adjusted
Par Value Coupon Rating Maturity to Maturitv Cost Basis Category Total
Total Invested Cash $ 116,224,082 $ 116,224,082
$ 116,224,082
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3.950
Trust&Agency-Bank of America 1,060,267 N/A N/A open None 1,060,267
Downpayment Assistance(Housing 33,882 0.15% N/A open 0.15% 33,882
Fund)-Bank of America
Workers Compensation-Bank of America 104,321 N/A N/A open None 104,321
General Liability-Bank of America 30,000 N/A N/A open None 30,000
1930's General Store Museum-Bank of America 9,203 N/A N/A open None 9,203
On-Line Credit Card Fire Inspection Fees 84,790 N/A N/A open None 84,790
-Bank of America
On-Line Credit Card Transportation Permits 5,062 N/A N/A open None 5,062 1,331,475
-Bank of America
Total Cash Deposited $ 117,555,558
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
March 31, 2015
Par Coupon Yield Adjusted Category (memo onl)) Prior Qtr.
Value Rate Ratine Maturity to Maturity Cost Basis Total Market Value Source Market Value
1991/01 Series B-Housing
Invesco Government&Agency Private 0 variable AAA open 0.02% 0 0 Bank of NY Mellon 9
0
1998 Airport PFC
Invesco Government&Agency Private 976,449 variable AAA open 0.01% 976,449 976,449 Bank ofNY Mellon 2,373,976
976,449
2002 Puking Structure
Cash 3 3 3 Bank of NY Mellon 3
Invesco Government&Agency Private 1,331 variable AAA open 0 01% 1,331 1,331 Bank of NY Mellon 1,630
334
2004A/B,Merged Project p 1/02
Invesco Government&Agency Private 0 variable AAA open 0.01% 0 0 Bank of NY Mellon 113
0
2004 Assessment District 161
GE Capital Bank CD 200,000 170% N/A 01/17/2019 1,70% 0 0 Bank of NY Mellon 199058
Goldman Sachs Bank CD 100,000 1.90% N/A 01/22/2019 1.90% 0 0 Bank of NY Mellon 101,231
Invesco Government&Agency Private 522.074 variable AAA open 0.02% 522,074 522,074 Bank of NY Mellon 97,399
522,074
2004 Assessment District 162
Goldman Sachs Bank CD 90,000 L90% N/A 01;22.2019 1.90% 0 0 Bank of NY Mellon 91,107
Invesco Government&Agency Private 227.629 variable AAA open 0.02% 227,629 227,629 Bank of NY Mellon 67,685
227,629
2005 Assessment District 164
GE Capital Retail Bank CD 200,000 1.90% N/A 01/17/2019 1.90% 0 0 Bank of NY Mellon 202,453
Goldman Sachs Bank CD 50,000 1 90% N/A 01/22;2019 1.90% 0 0 Bank of NY Mellon 50,615
Invesco Government&Agency Private 470,692 variable AAA open 0.02% 470,692 470,692 Bank of NY Mellon 119,094
470,692
2006 Airport PFC
Invesco Government&Agency Private 1,641,469 variable AAA open 0.02% L641,469 L641,469 Bank of NY Mellon 1,637,413
1,641,469
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE& RELATED FUNDS
March 31, 2015
Par Coupon Yield Adjusted Category (memo only) Prior Qir.
Value Rate Rating Maturir, In Migonly Cost Basis Total Market Value Source Market Value
2007 Refunding Lease Revenue Bonds
Invesco Government&Agency Private 1,306,069 variable AAA open 0 01% 1,306,069 1,306,069 US Bank 0
1,306,069
2007A&B Tax Allocation Bonds
Invesco Government&Agency Private 368,267 variable AAA open 0.01% 368,267 368.267 US Bank 10
368,267
2007C Tax Allocation Bonds
Invesco Government&Agency Private 340,216 variable AAA open 0,01% 340,216 340,216 1 1S Bank 10
340,216
2008 Airport PFC Refunding
Invesco Government&Agency Private 609,358 variable AAA open 0,02% 609,358 609,358 Bank of NY Mellon 618,377
609,358
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,189,928 variable AAA open 0.01% 3,189928 3,189,928 Bank of NY Mellon 3.199,851
3,189,928
20122014 Convention Center
First American Government Obligation 12,677 variable AAA open 0.01% 12,677 12,677 US Bank 12,867
12,677
2014 Merged Project 1&2/Housing Refunding
First American Government Obligation 419,479 variable AAA open 0,01% 419,479 419,479 US Bank 1006
419,479
ChevroNCoGen Lease Proceeds
Cash 1,142,120 1,142,120 1,142,120 Deutsche Bank 4,046,360
1,142,120
Funds With Century Golf 150501 1,505,051 1,505,051 Century Golf 376,914
1,505,051
Totals 12,732,812 12,732,812 $ 13,187,181
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
March 31, 2015
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.16%
1 year to 3 years N/A 50.00% 2.41%
3 years to 5 years N/A 30.00% 0.43%
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% 0.86%
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% 0.17%
Corporate Notes- by issuer N/A 5.00% 0.17%
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% 17.47%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 8.53%
LAIF N/A 100.00% 62.12%
U.S. Government Agencies N/A 60.00% 42.58%
U.S. TreasuryNotesBonds N/A 100.00% 0.00%
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