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Home My WebLink About4/1/2015 - STAFF REPORTS - 2.D. *PALM Sp* A. �Z V N yco P` roenno Cq<lFORN�P City Council Staff Report DATE: April 1, 2015 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF FEBRUARY 28, 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 February 28, 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 $117,661,247 plus $12,620,608 bond issue capital projects, reserve and debt service funds. There is an additional $1,295,939 in various miscellaneous/trust accounts. The market value of the invested cash is $117,638,207. RECOMMENDATION: Receive and File Treasurer's Investment Report as of February 28, 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. ITENA NO. p City Council Staff Report April 1, 2015— Page 2 Treasurer's Investment Report as of February 28, 2015 The weighted average maturity (WAM) of the portfolio is 412.41 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 2 � I Geoffrey S. Kiehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS February 28, 2015 On Call Deposits Adjusted Basis Category Total Percentage Checking Account $ 3,919,312 CalTrust ShortTerm 22,291,627 CalTrust MidTerm 10,903,862 State Pool 34,058,252 $ 71,173,053 60.49% Short Term Investments (1 year or less) U.S. Govt Agencies 41,991,000 Corporate Notes 1,000,000 Time Deposits 200,000 43,191,000 36.71% Medium Term Investments (1 year to 3 ears) Time Deposits 798,600 798,600 0.68% Long Term Investments (3 yearto 5 ears) U.S.Gov't Agencies 2,498,594 2,498,594 2.12% $ 117,661,247 100.00% lreasrep 03/19/2015 O W TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS February 28,2015 Par Coupon Purchase MaunN Firsl/Ne4 Optional Dais Yield Adjusted Category On.Onh) Prior Qlr Value Ralf BiIIBg D2t£ QEI; Call Did to Mal I4 Mail IY Tod mudel Value sw" Markel VA On Call Deposits Choking-Bch Of America g .3,919,312 N/A AAA renewal N/A I None 1919,312 F 3,11 K3I' Burk of Nnxnca 3,'111,312 CaRmq Sh.OTerm 22.000,Dm vmzble N/A demand N/A 1 051% 23.291,627 22,281,494 C'affrusl 13276,193 Carrrust Midterm 10.500,000 variuble N/A dem9M N/A 1 II X4% 00113.862 10.839497 Caffmsl 12839.931 Local Agem Imes road!(LA1F) 34-0001810 variable N/A demand N/A I a206% 34.058.252 14057534 LAW 21�134347Z 70,419.312 7/171053 71.137.887 1608l 716 ILon Tam;in falareale (1 yea or lea) U.S.Go"t A".Securities Federal Home Loon Bank 207% N/A (1411S/14 14/15/19 0 112 7,11 1 0 1 Book of NY Mellon a_np.39n Federal an.Loan Bank IOIIII,WO 045% N/A 051,19 'L/13 05/016 03,01115 436 1)45Y. IOOQIXq I Off 020 Book of NY Mellon 994540 Federal Farm Credit Book IW,NO 095% N/A 0M15112 02/15/19 031 AN 085% 1990(YJ IMOI.MO Bonk of NY Mallon 99784O Federd Farm Credit Balk 2,UU0900 099% N/A OR,IS/12 08,15117 03,OUI5 µit) 098% 199100c, 104,360 Honk of NY Mellon IIOR NO Federal H..Loon Book 20W.000 100% N/A 09/1It12 09/I14/17 03/01/15 933 100% 19990(ID 19921n0 Bank of NY Mellon 1991noO Federd F.Credit Bah 2,1100000 1.12% N/A 113 02120/19 U3/0I/15 I(fair 112% 2000NX) 199YOµ0 Bank of NY Mellml 1991.620 Federal Home Loan Bait pNOWO 075% N/A 05/29/13 0529/18 03/01/15 1,186 035% 100010) IN7' 740 Bonk of NY Mellon e93OµO Federd Home Loan Bank 1,18111,IN10 0RON, N/A OW1913 IIWILIB (13/12/15 I20K) ILIOi, 101rotop 99945u Bank of NY Mellon 9947ID Peters!Horne Loan Mortgage Corporation 11Hq,000 100% N/A 09/20/12 O9/201I9 03/2U/15 935 100% 2,000,010 2,001 Bank of NY Mellon I!196900 Federd Home Loan Mortgage Corporation 2.M000 12W. N/A 0120,13 0320/Ig 03/20,15 IAI6 120% 2OK)OIIW 1.987.960 Book of NY Mellon 1989.9g0 Federal H..Loan Bork 2001L000 1.O( N/A lIW20/13 116/20/I9 03,2WI5 1,201 100% 199µm) 1"6.240 Bank of NY Mellon 1986.960 Federal Home Loan Mortgage Corporation 201 1.04% NIA (0127/12 09/29/p 03/27/15 942 I.N% 2000,000 1."7.7.0 Bosh of NY Marna 1991,I20 Federal National Mortgage Manita119n 2.001 1.07% N/A 0/27/12 UP 63127/15 942 107% 2,01 1989,340 Bank ofW Mellon 1996.120 Federal Home Low Mortgage Corpordlion 1.0i 100% N/A 01/11/13 III/11,19 0411It15 1048 100% I.000t)00 995,990 Book of NY Mellon 9112O20 Federal Horre Loan Bah, 2.NO,W 1.50/. War 07/11/14 O7/15,19 Mi15/19 1.593 15n% 201HIg10 1.15,(120 Bank of NY Mellon 110i"i FWeml Home Law Motlgeµe COryomlion ZoogoW 105% N/A 01/I6,13 01/I6/Iµ IW/16/IS 1053 1U31f, 2(Illly(HIO 149')(PRO Bank f`NY Mellon 1'1919211 Federal Hare loan Molgege Corporation 2UW,OW 1.11%. Ni W/25/13 I1425/I11 IW125/15 1,152 1.15% 2OIp,WO IY9g841P Bank W NY Mellon Illµ'_061, � PWerol National Mortgage Moraalion 4iWo0W 1,03% N/A 01/30,13 01/30/19 04/30/15 1069 1.03% 1.000IID0 396n600 Bank ofNY Mellon 19Hrtiler Federal Home Wan Book I( ." 1W% N/A 01/30/13 01/3NIg 04130,,15 1069 1.00% 1J01F1mO 993111, Bank ofNY Mellon uo)Iif) Federal National Mcorl A Mention 21N10,00(1 2W1. N/A NO0/14 (W30'19 ryV30/15 1,522 2.0% 2jr00000 2 006 040 Bank of Nl Mellon 2On468µ federal Hmre Loan Bah I(Hq,(Po(1 1,05% NIA OL@/13 OlIZIN 05111115 1,080 1.01% 1IXX)(00 993,8I0 Bank of NY Mellon "0O9O Fedeml Hmre Loran Mortgage Corporation 1.(1W,050 125% NIA 02/20/15 OV20/19 05/20/15 IQµµ 1.25% 1M,Off 119.1551) Bank d-WMellor 9811,111, Fro l National Mnsµage Aasociation 2.Pi 103% WA 05/21/13 0512U19 05/21/15 1179 103% 2,(P100nn 19µ14.) Batik 9fNY Mellon 1'164920 Fedad Nilimd Mortgage Asaotialron Ipar IlM% N/A OO28/12 0928/17 05,/28/15 912 Lnu% 198(,1111 'g4960 Bank of NY Mellon 1194,3211 Federal National Mortgage Association 2,0IXl000 1.10% N1A OPOW12 08/28/19 05/28/IS 912 110% 21MHI(M)n 1,999380 Batik d-NYMellon 1`Na.lou Federal National Mortgage AssOeiazbn I'Olo 00 120% N/A 02QVIS 02,'27/I8 OµR9115 13195 120% 1.000,001) 999 151 Bank 9fNY Mellon 989,111, Corporal¢Notes 42000.0011 41991.111 41 991J1MI 41.KI6.µ20 43735alµ General Electric CWP Corporation Lmic" (173% AI/AAa Wll3/12 (9113111 N/A as (173% 1,00"Orn I(KKUIO Bard,9fNY Mellon lJol230 Time Deposits I.001IOW 1 000 ROP 1WOSIU I III)1211 ' AIIS Bah CD 2W,cm 115% N/A 7/27/12 7/P/15 N/A 149 I IS% 204000 2W-116 Bank of NY Mellon III,Off) asrtP 210,01H1 200.000 2W716 21N1.(NN1 I 03,1912.15 a� TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS February 28, 2015 Far Coupon purchasc Maturity First/Next Optional Days Yield Adjuster] Category (memo only) Prior Or. Yaluc Rate, RaLLng D91e Data: Call Date 1p Ma,,r,, 10 MalYti[y Co"R3515 Tnul Marker V.I.,r Source MarketVal„e Medium Term Investments (1 ye&19 3 yes rat Time Deposits GE Cap Retail Ban]:CD 20(l 1.35% N/A 7/20112 7/20/16 N/A 509 135% 2W.000 201.732 Bank of NY Mellon 202,026 GE Cap Bank CD 200,000 1.35% N/A 7120112 7/20/16 N/A 508 1.35% 2W.000 201,732 Bank of NY Mc119n 202,026 Goldman Sachs Bank CD 2W,000 1.80% WA 7/25/12 7125/17 N/A 878 1.80% 198,600 203,888 Bank of NY Mellon 203,473 Discover Rack CD 2W,000 1470% N/A 7126/12 7126/17 N/A 879 1.70% 2W,OW 203,410 Bank of NY Mellon 202,964 k)(3,000 798,6W 810,762 810.489 lung Term Investment (3 cars to 5 ears) U,S.Gov't Agemy Securities Federal National Mortgage Association 2,000,000 1.10% N/A 03/12/13 03/12/18 03/12/18 1,108 1,10% 2.W.M I.W3,780 Bank of NY Mcllon 1982.1611 Financing Coryoration(FICO) 5W,000 9.90% N/A WOWS W106/I8 N/A 1,133 9A0% 498,594 627,712 Back of Anwrica 633.787 2,5W,000 2 498.594 2,621.512 2,615 947 Tmal lnveshd Cash $ 116,719,312 S 117.661.247 S 117.638207 $ IIW,414.199 Dozers,, 03119/2015 d TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS February 28, 2015 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 117,661,247 $ 117,661,247 $ 117,661,247 Miscellaneous Accounts Petty Cash 3,950 N/A N/A open None 3,950 Trust&Agency-Bank of America 1,055,776 N/A N/A open None 1,055,776 Downpayment Assistance(Housing 33,877 0.15% N/A open 0.15% 33,877 Fund)-Bank of America Workers Compensation-Bank of America 86,955 N/A. N/A open None 86,955 General Liability-Bank of America 29,530 N/A N/A open None 29,530 1930's General Store Museum-Bank of America 9,562 N/A N/A open None 9,562 On-Line Credit Card Fire Inspection Fees 71,455 N/A N/A open None 71,455 -Bank of America On-Line Credit Card Transportation Permits 4,834 N/A N/A open None 4,834 1,295.939 -Bank of America Total Cash Deposited $ 118,957,185 treasrep 03/19/2015 O O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS February 28, 2015 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rating Maturi , to Maturity Cost Bass 'total Market Value Source Market Value 1991/O1 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 $51.493 variable AAA open 0.01% 851.493 R51,493 Bank of NY Mellon 2,373 976 851,493 2002 Parking Structure Cash 3 3 3 Bank of NY Mellon 3 Invesco Government&Agency Private 1,270 variable AAA open 0.01% 1,270 1,270 Bank of NY Mellon 1,630 1,274 2004AB,Merged Project#1/#2 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 200000 1.70% N/A 01/17/2019 170% 200,000 202.046 Bank of NY Mellon 199.OS8 Goldman Sachs Bank CD 100,000 1 90% N/A 01/22/2019 1.90% 100,000 101 794 Bank of NY Mellon 101,231 Invesco Government&Agency Private 188,132 variable AAA open 0.02% 198,132 188,132 Rank of NY Mellon 97.399 488,132 2004 Assessment District 162 Goldman Sachs Bank CD 90,000 1.90% N/A 01/222019 190% 90,000 91614 Bank of NY Mellon 91.107 Invesco Government&Agency Private 92,197 variable AAA open 0.02% 92,197 92,197 Bank ofNY Mellon 67,685 182,197 2005 Assessment District 164 GE Capital Retail Bank CD 200,000 1.90% N/A O1/172019 1.90% 200,000 203.575 Bank of NY Mellon 202.453 Goldman Sachs Bank CD 50,000 1.90% N/A 01/22/2019 1.90% 50,000 50,897 Bank of NY Mellon 50,615 Invesco Government&Agency Private 193,333 variable AAA open 0,02% 193,333 193,333 Bank of NY Mellon 119,094 443,333 2006 Airport PFC Invesco Government&Agency Private 915,622 variable AAA open 0,02% 915,622 915,622 Bank of NY Mellon 1,637 413 915,62_2 treasrep 03/19,12015 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS February 28, 2015 Par Coupon Yield Adjusted Category (memo only) Prior Cur Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value 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 736,526 variable AAA open 0.01% 736,526 736,526 US Bank 10 736,526 2007C Tax Allocation Bonds Invesco Government&Agency Private 525,426 variable AAA open 0.01% 525 426 525.426 US Bank 10 525,426 2008 Airport PFC Refunding Invesco Government&Agency Private 309.354 variable AAA open 0.02% 309 354 309..354 Bank of NY Mellon 618,377 309,354 2012 Downtown Revitalization Lease Revenue Bond Reserve Invesco Government&Agency Private 3,189,904 variable AAA open 0.01% 3,189,904 3,199,904 Bank of NY Mellon 3,189,851 1,189,904 2012/2014 Convention Center First American Government Obligation 12,677 variable AAA open 0.01% 12,677 12,677 US Bank 12,867 12,677 20t4 Merged Project 1&2/Housing Refunding First American Government Obligation 809,757 variable AAA open 0.01% 809,757 809,757 US Bank 1,006 909,757 Chevron/CoGen Lease Proceeds Cash 3,160,015 3,160,015 3.160,015 Deutsche Bank 4,046,360 3,160015 Funds With Century Golf 994,899 994,899 994,899 Century_ Golf 376,914 994,899 Totals 12620,608 12,630,534 5 13,187,181 treaso p 03/1912015 0 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS February 28, 2015 By Maturity: Minimum Maximum Current Mo. 1 day to 365 days N/A N/A 97.20% 1 year to 3 years N/A 50.00% 0.68% 3 years to 5 years N/A 30.00% 2.12% 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% 0.85% 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% 18.95% Money Market Mutual Funds-More than I Year N/A 25.00% 9.27% LAW N/A 100.00% 68.12% U.S. Government Agencies N/A 60.00% 37.81% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% tmwmp 03/19/2015 O cS)