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Home My WebLink About3/4/2015 - STAFF REPORTS - 2.E. ?ALMSA �O 4� 1 ° V N r e >ee City Council Staff Report DATE: March 4, 2015 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF JANUARY 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 January 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 $114,061,719 plus $10,879,877 bond issue capital projects, reserve and debt service funds. There is an additional $1,259,755 in various miscellaneous/trust accounts. The market value of the invested cash is $114,216,238. RECOMMENDATION: Receive and File Treasurer's Investment Report as of January 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. �`y City Council Staff Report March 4, 2015— Page 2 Treasurer's Investment Report as of January 31, 2015 The weighted average maturity (WAM) of the portfolio is 417.19 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, Y, )� Geoffrey S. iehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS January 31, 2015 On Call Deposits Adjusted Basis Category Total Percentage Checking Account $ 5,326,333 CalTrust ShortTerm 17,286,744 CalTrust MidTerm 12,902,196 State Pool 34,058,252 $ 69,573,525 61.00% Short Term Investments (1 ear or less) U.S.Gov't Agencies 39,991,000 Corporate Notes 1,000,000 Time Deposits 200,000 41,191,000 36.11% Medium Term Investments (1 yearto 3 ears) Time Deposits 798,600 798,600 0.70% Long Term Investmnt es (3 ear to 5 ears) U.S.Gov't Agencies 2,498,594 2,498,594 2.19% $ 114,061,719 100.00% treasmp 02/23/2015 O W TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS January 31,2015 Par Coupon Pumhae MalunD, FinvNlexl Optional Line Yield Adjusted faegory Bnelrea onA7 Poor Our value Rntg Rate Q& Date Call Do, 19M0f1Nl` IQ Milling, Cos B. Total Markel Value Source Market Value Jon Cell Deposit. Checking-Bank of Amanoa S 532Q333 N/A AAA dermnd NIA 1 None 5.326,333 S 3J26.333 Bank of Amerr,, 5.326333 Canner Sh.ATerm 17,OML000 variable WA derMM WA 1 041% 17,28694J I]]93,SOI (afl'rusl 13'_76103 Canrual MidTmn 13,500000 arable WA dwwd N,A 1 074% 12.902.196 12,NN6141) Cnffru9 11839.]l9 Local Agmcv loves Fund(LAIF) 34,WO,WO ratable N/A denard N/A 1 0262N. 34.058212 1,051.i84 LA1F 2orW+412 68.826,333 69,543.525 69.563,915 124V739 Shan Term 3mcslm9ns (I veer or lewo U.S.Govt Agwo,Secudtles Federal Home Loan Bank 209% WA 04/IS/14 04,15110 01,271" 0 0 0 Bank of NY Mellon 200.3OU Felerd Hotta Loral Bun: 1,0110,000 0,45% N/A 05/ll9/13 MINIM 02/0I115 4(01 043% IJNII),IXN1 no 230 Bank orw Mellon 996540 Federal Form Crew Bonk 1,001 0.85% N/A 06/15/12 OV15/12 03101/15 746 095% 999,000 I,000,040 Bank ofNY Mellon 999,840 Federal Form Credit Bank 2,0DUOU 099% N/A IIN/15/12 OW15117 02161/15 927 098% 1997,000 2.WO010 Bank afNY Mellon 1988.141) Federal Home Law Bank 2000.00 10O% NIA O9/I8/12 09/18/17 02/01115 961 1(W/ 1999.IN10 1In%460 Bank orw Mellon IInIODO Federal Faun Credit Bad 2000000 1.12% NIA 0920/13 OL20/18 02101/15 1,116 1.121% 20DI.W0 210i]20 Bank of NY Mellon 1991.620 Fedend Home Lain Bank I,INHIIXN 1175% NIA 0529/13 05I29/18 12/0I115 L214 075% 1,1100JUr 1001.490 Bank of NY Mellon 993,ONO Federal Home Loon Bank ImOcnit 1.05% WA OLIW3 ON6/Ie OV12115 1109 105% 1000,0011 `n9120 Bank ofW Mellon plgrNn Federal Nmwnal M9ngage Assocat,on 2000.000 103% NIA 05/21/13 05/21/18 OV21115 1,206 101% 2.000000 1o94J40 Bank afNY Mellon Io0o120 Federal National Morlgab'a Association LWU.ol81 I.CO% N/A 08,28;12 0828I19 02/28/15 NO I0e nx,W0 AJN.170 Bunk of NY Mellon 9'M3211 Federal National Mongege Association 2,00000 1.10% NIA UWS/12 08128/17 02/28/15 MO 110% 1,000,1100 I.11>1120 Bank of NY Mellon IA'wJeu Fadeul Home Loan Bank I,WgWO 0.80% NIA 06/I2/13 I1611L18 03/12111 1229 0.Wl% IOo0,uu0 1,lNN1.830 Bank of NY Mellon o1M190 Federal Hamer Loan Morl,,a Corporation 2,000,000 1.0Mo NIA 09/20d2 00/2111/ 03120/15 963 IIXI% 2,000000 202MO Bank of NY Mellon 1 996.WN1 Fedttal Hane Loan Mortgage Corporation 2000.000 120% N/A 0320/13 0312(vis 03/20,'15 1,144 120% 2t .We, 1,119IIA60 Bank 9f NY Mellon 110`11 0 Federal Home Law Bank 2.Wf1,00 1.0U% NIA 0612DA3 W20118 03/2NI5 1231 100% 1998.000 2,W2183 Bank ofNYMellon 1986,960 Fedual Hone,Loan Mortgage CoMornion 2,000,000 IAWN. N/A 119/21112 0929111 03/27/11 9711 1.114% 2111D000 21A12540 Bank of NY Mellon I!191121, Federal National Morlgage Assocwnarr 2,000,000 109% N/A 69/27/12 W27/19 0329/15 901 101% 2000,W0 1995.A00 Bank ofW Mellon 1994120 Federal Home Leon Mortgage Corporation LM0400 1.00% N/A 01/11/13 01/I1/I8 M/11/15 L016 1N% I.W200 1000960 Bank ofNY Mellon 99'_U20 Federal Home Loan Ban: 2,00O.000 150% N/A 111/15/14 01/I1/19 01/15/15 L026 150% 20(10000 2002.200 Bad of NY Mellon 1993340 Federal Hone Lase,Mortgage Corporation 2,(IOg00 105% N/A 01/16/13 01/I6,I8 (14/16115 1081 105% 2,O(n00 2003,280 Bank of NY Mellon 1,991J2(l Pedern Home Loon Mongaga Corporation 2000,60() 1.15% N/A 04,15/13 0425/I8 (W25/15 LI80 1.15% 2,000,000 2001,200 Bank of NY Mellon 1,982,n60 Foderd National Morlgage Asaceialion 4.00O.oW L03% N/A 01,10113 01/3NIN 04/30/15 1095 1.03% f(XnAf 3990,720 Bank of NY Mellon 3.956.600 Pedern Hone,Loan Bud I'mr(N11) 100% N/A 61W13 01/301I8 04/3N15 1,095 1.00% 1"'WO 999,330 Bank of NY Mellon 989.IIn Federal Naionel Mortgage Auooiaion 2,OW,000 2.00% N/A 04/30114 (4/30119 ON30JI5 1550 2.011% 2MIOWO 214Q040 Bank of NY Mellon 2,W9,688 40.600,0W 39,'N),OW 39,999,)58 41757,598 Cotpamle Notes General Blecnc Latour!Corporation IP00'" 073% AI/AA+ 04AN12 (W13/15 N/A 12 0]3% 11k'8110 IIa10,910 Bank of NY Mellon IDoI23n LOOO,OW I IN.I1110U I DOO110 IJ'I11.211) Tare Dcpasils MI Bank CD 200,0041 115% N/A L2DI2 729/13 N/A 1)] 111% 200(116 200,M10 Bank of NY Mellon 21111.1a111 2000W 2OD OOD 201t000 21100011 troaso,p ualv2Uu O is TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS January 31,2015 Par Coupon Purchase Hmwb FirsuNnl npoalal 17)" Yield Ad2uned Calagon (mnn99nh1 Pnor Qu, 4,alue Bat[ 9i10C ran, PSIV Call Ddt to mmont, I,\ , (,o, yif Tariff Mark, Value iq MVAc Value MMi.T. eslmenls (I".to 3)'eus) Time Deposits GE Cap BeleJ Bank CD PWLW 1.35% N/A 7120212 2/20/I6 N,'A 536 1.35% 2W,000 202,137 Bank ol'NY Mellon 202,026 GE Cr,Bank CD 200U00 1.35% N/A 720,12 7120/16 N/A 536 135% 200'" 202,137 Bank of NY Mellon 202,026 Goldrmn Sachs Book CD 200.000 1.96% N/A 925112 225/17 N/A 906 1B0% 198.60n 204,746 Bank of NY Mellon 203,473 Discover Bank CD 20PW0 190% N/A 1/2NI2 ]/26/1) N/A 907 170% 200,000 204,253 Bank of NY Mellon 202,964 AIXI,pMI 998.61a' 813,274 frAl9 Long Tern�Imasmenl (35can to 5 years) U.S.Noel All Secori5ies Federal National Motlpage Morfulion 2.W0,000 1_10% N/A 03/12/13 03112/I8 (A/II/19 1,116 1ltl% 2,000.000 2(9)2.940 Bankat'NYMellon 19N2.160 finmevg CWpemtpn(FICDI 5...000 9.$.% N/A (Wil"s 04/W18 N/A 1.161 9W°o 4`45.594 636(Y2 Pink of Amencn 613.297 2.5W,0IXI 2,498.594 2639.382 2,615.942 Tani rroealed Cmh F 113,126.333 S I14.W1.719 F II4.216239 S 1113,873J9m lusrcp 0212112015 Cli TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS January 31, 2015 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 114,061,719 $ 114,061,719 $ 114,061,719 Miscellaneous Accounts Petty Cash 3,950 N/A N/A open None 3,950 Trust&Agency-Bank of America 1,053,510 N/A N/A open None 1,053,510 Downpayment Assistance(Housing 33,873 0.15% N/A open 0.15% 33,873 Fund)-Bank of America Workers Compensation-Bank of America 61,478 N/A N/A open None 61,478 General Liability-Bank of America 30,000 N/A N/A open None 30,000 1930's General Store Museum-Bank of America 9,770 N/A N/A open None 9.770 On-Line Credit Card Fire Inspection Fees 62,637 N/A N/A open None 62,637 -Bank of America On-Line Credit Card Transportation Permits 4,537 N/A N/A open None 4,537 1,259,755 -Bank of America Total Cash Deposited $ 115,321,474 'I treasrep 02/23/2015 O O i TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS January 31, 2015 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Ra!inu Maturth to Maturity Cost Basis Total Market Value Source Market Value 2012/2014 Convention Center First American Government Obligation 12,867 variable AAA open 0.01% 12,867 12,867 US Bank 12,867 12,867 1991/01 Series B-Housing i Invesco Government&Agency Private 0 variable AAA open 0.02% 0 0 Bank of NY Mellon 9 0 2004AB,Merged Project N 142 Invesco Government&Agency Private 113 variable AAA open 0.01% 113 113 Bank of NY Mellon 113 113 2007A,B,&C Tax Allocation Bonds Invesco Government&Agency Private t0 variable AAA open 0.01% 10 10 US Bank 10 10 1998 Airport PFC Invesco Government&Agency Private 851,493 variable AAA open 0.01% 851493 851493 Bank of NY Mellon 2,373976 851,493 2002 Parking Structure Cash 3 3 3 Bank of NY Mellon 3 Invesco Government&Agency Private 172 variable AAA open 0 01% 172 172 Bank of NY Mellon 1630 175 2004 Assessment District 161 GE Capital Bank CD 200,000 1.70% N/A 01/17/2019 t 70% 200,000 204,113 Bank of NY Mellon 199,058 Goldman Sachs Bank CD 100,000 1.90% N/A 01/22/2019 1 90% 100,000 102,849 Bank of NY Mellon 101,231 Invesco Government&Agency Private 100,058 variable AAA open 0.02% t00,058 100,058 Bank of NY Mellon 97,399 400,058 2004 Assessment District 162 Goldman Sachs Bank CD 90,000 1.90% N/A 01/22/2019 1.90% 90,000 92,564 Bank of NY Mellon 91,107 Invesco Government&Agency Private 68,547 variable AAA open 0.02% 68,547 68,547 Bank of NY Mellon 67,685 158,547 treasq, 02/23/2015 0 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS January 31, 2015 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Souree Market Value 2005 Assessment District 164 GE Capital Retail Bank CD 200,000 190% N/A 01/17/2019 1 90% 200,000 205.679 Bank of NY Mellon 202,453 Goldman Sachs Bank CD 50,000 1.90% N/A 01/222019 1 90% 50,000 51,425 Bank of NY Mellon 50,615 Invesco Government&Agency Private 121,489 variable AAA open 0.02% 121,489 121,489 Bank of NY Mellon 119,094 371,489 2006 Airport PFC Invesco Government&Agency Private 1,391,454 variable AAA open 0.02% 1391,454 1,391,454 Bank of NY Mellon 1637413 1,391,454 2007 Refunding Lease Revenue Bonds Invesco Government&Agency Private 0 variable AAA open 0.01% 0 0 US Bank 0 0 2008 Airport PFC Refunding Invesco Government&Agency Private 609 350 variable AAA open 0.02% 609,350 609,350 Bank of NY Mellon 618,377 609,350 2012 Downtown Revitalization Lease Revenue Bond Reserve Invesco Government&Agency Private 3,189.877 variable AAA open 0.01% 3,189,877 3,189 877 Bank of NY Mellon 3,189,851 3,189,877 2014 Merged Project 1 &11-lousing Refunding First American Government Obligation 1,015 variable AAA open 0,01% 1,015 1015 US Bank 1006 015 Chevron/CoGen Lease Proceeds Cash 3,340,344 3,340.344 3,340,344 Deutsche Bank 4,046360 3,340 344 Funds With Century Golf 553,084 553,084 553,084 Century Golf 376,914 553,084 Totals 10,879,877 10,896,507 $ 13,187,171 ueasrep 02/23/2015 00 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS January 31, 2015 By Maturity: Minimum Maximum Current Mo. 1 day to 365 days N/A N/A 97.11% 1 year to 3 years N/A 50.00% 0.70% 3 years to 5 years N/A 30.00% 2.19% 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% 0.88% 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% 0.18% Corporate Notes-by issuer N/A 5.00% 0.18% 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% 15.16% Money Market Mutual Funds -More than I Year N/A 25.00% 11.31% LAIF N/A 100.00% 68.12% U.S. Government Agencies N/A 60.00% 37.25% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% trewrep 02/23/2015 U t0