HomeMy WebLinkAbout12/3/2014 - STAFF REPORTS - 2.F. ,?ALMS..
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Itty City Council Staff Report
DATE: December 3, 2014 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
OCTOBER 31, 2014
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 October 31, 2014. 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
$108,365,678 plus $15,904,171 bond issue capital projects, reserve and debt
service funds. There is an additional $1,177,717 in various miscellaneous/trust
accounts. The market value of the invested cash is $108,326,000.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of October 31, 2014.
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
December 3, 2014 — Page 2
Treasurer's Investment Report as of October 31, 2014
The weighted average maturity (WAM) of the portfolio is 523.10 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
r
Geoffrey 1,5ehl, Director of Finance and Treasurer
Attachments: Treasurers Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
October 31, 2014
On Call Deposits Adiusted Basis Category Total Percentage
Checking Account $ 7,685,211
CalTrustShortTerm 13,273,132
CalTrust MidTerm 12,878,389
State Pool 27,040,751 $ 60,877,484 56.18%
Short Term Investments
(1 ear or less)
U.S.Gov't Agencies 42,991,000
Corporate Notes 1,000,000
Time Deposits 200,000 44,191,000 40.79%
Medium Term Investments
Q year to 3 ears)
Time Deposits 798,600 798,600 0.74%
Long Term Investments
(3 ear to 5 years)
U.S.Gov't Agencies 2.498,594 2,498,594 2.31%
$ 108,365,678 100.00%
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
October 31,2014
Par coupon Purchase Matur, First Next Optional Dan Yield Ad3unad Cmegory lmenm only) PRm.con
Value Rate Ratine Data Dann Call Date to Me ur is is Maio for Bass Total Markel Value Source Marks Val e
On Call Deposits
Checking-Bank of America S 7,685.211 NIA AAA demand N/A 1 None 9.685,211 f 7,685211 Bank of America 9.856.357
CaUrcen ShonTemt 13,000,000 ...able N/A &,nand N/A 1 039% 13273,112 13,290,24. CsiTrust 15.275,151
CIalTmsl MoTerm 12,500,000 vunable N/A demand N/A 1 021% 12,878,389 12,249,541 ('a1Tmn 12,228 a"
Local Agency lmest Food HLA1F) 2'b000.000 ..able N/A demand N/A 1 0.261% 27,040,751 27,045.653 LAIF 25,032,370
60,181211 6Q8)7A84 60,360,648 62,992,717
Short Term Investments
(I year or less)
US Ciav't Ageo,,So....es
Federal Home Latin Bank I000,a00 045% N/A 05/09/13 05N9/16 1 1)1'14 556 045°r° 1000000 997A90 Book of NY Mellon o9C 110
Federal Farm Credit Bank 1000000 0.85% N/A 08/15/12 02/15/17 11/01114 938 085% age 000 1000,040 Bonk of NY Mellon 11-8.125
Federal Farm Credit Bank 2,000,aao 098% N/A 08/15/12 08I15/12 11,01114 1019 a98°r° 1997000 1940,440 Bank of NY Mellon I9o2960
Federal Home Caen Bank 1W0000 100% N/A 09,118/12 On,18117 11,01/14 1,013 1.We 1999,000 1995460 Bank.1 NY Mellon 1991420
Federal Farm Credit Bank 2.000,000 112% N/A 0212nll3 02120/19 11/01/14 1208 112% 2.000000 1,94o 740 Bank of NY Mellon 194 d20
Federal Home Laan Bank 1,000000 202% N/A 04/1514 04/15119 11/01/14 1,627 2.07% 2000,000 2(100200 Bank of NY Mellon 1996.120
Federal Home Loan Bank 0 200% N/A 07/09/14 02N8.'19 10,03/14 1,711 2."/. 0 0 Bank of NY Mellon 2000,340
Federal Home Loan Mortgage Corporation 1000o00 IW% N/A 01/11/13 OUI1/19 10111/14 1.169 100°e I,00l,000 993540 Bank of NY Mellon 988721
Federal Homo Lean Bank 2,000,000 1.50% N/A 09/1514 07/15/19 10/15/14 1,719 200% 2.0t10000 1982,700 Bank of NY Mellon 1966.120
Federal Home Loan Merrill.,Corporation 1000000 105: N/A 01/16113 01/16/19 IOIIW14 1,173 1.01% 2.000,000 1995,160 Bank of NY Mellon 1989"D
Federal Home Loan Mortgage Corporation 0 200% N/A 07124/14 07124/19 1024114 1,727 2Wos 0 0 Bank of NY Mellon 2,002,480
Federal Home Lann Mortgage Corporation 20000011 1.15% N/A 04/25/13 04Y15/IB I0125(14 1272 1.15% 2,000.000 1987,140 Bank of NY Mellon 197540
Federal National Mortgage Association 4,000,000 103% N/A 01/30/11 01I3048 1030,114 1,189 103% 4.011),000 3,966,800 Bank of NY Me11on 3946080
Federal Home Loan Bank 1000900 100% N/A 0110113 01/30119 10130,114 1,197 1.00% I,o00000 991690 Bank ol'NY Mellon 138,110
Federal Home Loan Bank 0 1 95% N/A 01130/14 11/30/19 10/30,114 1,552 1 85% 0 0 Bank of NY Mel loo 1,996690
Federal Home Loan Bank IW0000 105% N/A 02/12A3 02/12119 11112!14 1200 1.05% I00p,000 992620 Bank of NY Mellon 939980
Federal National Mortgage Association 2,000,000 10% N/A 05121/13 D52Ul It 1121/I4 I298 1ol%° 2.000000 1976,386 Bank of NY Mellon 1963840
Federal National Mortgage Aseacnilmn 1000900 100% Was 08/28/12 0821//17 1128/14 1012 1.00°m 998,000 9116.719 Bank of NY Mellon 992.620
Federal National Mortgage Association 2,000,000 110% NIA 011/28112 0828/12 11,29/14 1032 1.10°i 29310.000 1 999260 Bank of NY Mellon 1 axst 820
Federal Home Loan Mortgage Corporation 1,000000 201% N/A 08/29/14 0829//19 1128!14 1,762 20e% 1.000,000 1,001270 Bank of NY Mellon 998,190
Federal Home Loan Bank 1;000000 025% N/A 05/29/13 05,29119 11129/14 1,)06 075% 1000000 994j70 Bank of NY Mellon 992610
Fedeal Home Loan Bank 1000,000 080% N/A 0ee12/13 ON12/19 12,12//14 1,120 080% 10o0.0c0 one 110 Bank of NY Mellon 991590
Federal Home Loan Mortgage Corporation 2,000,000 100% NIA 09/20/12 09/20/17 1220,114 1.055 1.00% 2000,000 1998.920 Bank of NY Mellon 1990,880
Federal Home Loan Mortgage Corparanon 2,0W,000 120% N/A 01/20d3 0120/19 1220/14 1236 120°e 2,000,000 1994,140 Bank of NY Mellon 19920g0
Federal Home Lo.n Bank 1,000000 100% N/A W20/13 o62o/I8 1210114 1328 1.00% 1998,000 1990.680 Bank of NY'Mdlon 1,980280
Federal Home Loan Mortgage Corporation 2,000,000 1 04% N/A 09/22112 0927112 1227,114 1062 1 04% 2,000,000 1,992,740 Bank of NY Mellon 1984,140
Federal National Mortgage Association 1,000.000 1 02% N/A 09/24112 0929/19 12127l14 10,52 LON/° 2000,000 1.990]60 Bank of NY Mellon 1,998,660
Federal National Men,,Assaciatian 2,000,000 200% NIA 01/lnll,l 04/30/19 04,90,115 IG41 200% 2000,000 2,012,200 Bank of NY Mellon 200o,ORO
43",000 42991000 42824,199 48 OK 141
Corporate Notes
(ienaral Electric Capital Corporation LW0000 071% AhAA+ 04/U/12 04/13/15 N/A 164 071% IOOO,000 L002060 Bank of NY Mdlon L002180
I,W0,000 1,000,000 1 002,000 1002380
Time Deposits
Ally Bank CD 200,000 1.IS% N/A 9/27/12 2/27/15 N/A 269 I IS°%° 200,000 200,000 Bonkuf NYMellon 200,OW
200,000 2000W 200,000 200.000
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
October 31,2014
Par Coupon Purchase Mnunw Fim,Neu Opunnnl Days Yield Adjusted Care,,, Onennn onl,j Pnof On
Value Rate Rating Dale Date Call Dale low m M..n CpSt_Basi; Tuial Murket Valuc Source M9rkel Value
Medium Term Inveslmam,
(I year to 3 years)
Time Deposits
GE Cap Betail Bank CD 200,000 13S% N/A 7120112 9/20/I6 N/A 628 135% 200.000 202,445 Bank of NY Mellon 202,158
GB Cap Bank CD 20g000 1.15% N/A 9110/12 7120116 N,A 628 1.35% 200000 202,445 Bank of NY Mel Ion 202,158
Goldman Sachs Bank CD 200AD 1.gn% N/A 7125/12 7/25/19 N/A 999 1.90% 19SOD 204,124 Bank cf NY Mellon 203,23S
Dixover Bank CD 200,000 170% N/A 7Q6112 9/26,19 N/A 999 1.90% 200,000 203,633 Bank of NY Mel Ion 202,678
800,000 798.600 812,696 810,229
Long Term Investment
(3 years t9 5 years)
U.S.Gov't Agency Securiun
Federal National Morlgage Association 2,000,0.0 110% N/A 03/12.'13 03/12%18 03/1298 1,228 110% 2,000000 1981660 Bank of NY Mellon 1972490
Financing CoMoration(PICO) 500,000 9.90% M1YA 04/06/88 04/06/13 NA 1,251 9.90% 498,594 ( 2143 Bank of Ancn9a 642,178
2,500,000 2,498,594 2.626,008 2,614,658
T9ta11mested Cash $ 107,485211 S 108,365678 S 108,326000 S 116,309,149
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
October 31, 2014
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 108,365,678 $ 108,365,678
$ 108,365,678
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency-Bank of America 1,042,323 N/A N/A open None 1,042,323
Downpayment Assistance(Housing 33,861 0.15% N/A open 0.15% 33,861
Fund)-Bank of America
Workers Compensation-Bank of America 18,063 N/A N/A open None 19,063
General Liability-Bank of America 30,000 N/A N/A open None 30,000
1930's General Store Museum-Bank of America 7,748 N/A N/A open None 7,748
On-Line Credit Card Fire Inspection Fees 38,925 N/A N/A open None 38,925
-Bank of America
On-Line Credit Card Transportation Permits 2,847 N/A N/A open None 2,847 1,177,717
-Bank of America
Total Cash Deposited $ 109,543,395
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
October 31, 2014
Par Coupon Yield Adjusted Category (memo only) Prior Qh.
Value Rate Ratine Maturity to Maturity Cost Basis Total Market Value Source Market Value
2012/2014 Convention Center
First Anrencan Government Obligation 3,174,087 variable AAA open 0.01% 3,174087 3.174,087 US Bank 14,182
3.174.087
199 V01 Series B-Housing
Invesco Government&Agency Private 9 variable AAA open 0.02% 9 9 Bank of NY Mellon 9
9
2004A/B,Merged Project 91/42
Invesco Government&Agency Private 113 variable AAA open 0 01% 113 113 Bank of NY Mellon 303
113
2007A,B,&C Tax Allocation Bonds
Invesco Government&Agency Private 10 variable AAA open 0,01% 10 10 Bank of NY Mellon 10
10
1998 Airport PFC
Invesco Government&Agency Private 1,263,155 variable AAA open 0.01% 1,263,155 1,263,155 Bank of NY Mellon 1,197.746
_63,155
2002 Parking Structure
Cash 3 3 3 Bank of NY Mellon 3
Invesco Government&Agency Private 1,672 variable AAA open 001% 1.672 1,672 Bank of NY Mellon 1,520
1.675
2004 Assessment District 161
GP Capital Bank CD 200,000 1,70% N/A 01/17/2019 1.70% 200,000 200.758 Bank ofNY Mellon 200,458
Goldman Sachs Bank CD 100,000 1.90% N/A 01/22/2019 1.90% 100,000 101,383 Bank of NY Mellon 100 589
Invesco Government&Agency Private 97,398 variable AAA open 0.02% 97398 97.398 Bank ol'NY Mellon 97,397
397,398
2004 Assessment District 162
Goldman Sachs Bank CD 90.000 1.90% N/A 01/22/2019 1.90% 90,000 91.244 Bank of NY Mellon 90,530
Invesco Government&Agency Private 67,694 variable AAA open 0.02% 67,684 67.684 Bank of NY Mellon 67.683
157,684
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
October 31, 2014
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value
2005 Assessment District 164
GE Capital Retail Bank CD 200,000 1.90% N/A 01/17/2019 190% 200,000 202.756 Bank of NY Mellon 201,175
Goldman Sachs Bank CD 50,000 1.90% N/A 01/22/2019 190% 50000 50,691 Bank of NY Mellon 50,295
Invesco Govemment&Agency Private 119,092 variable AAA open 0 02% 119,092 119,092 Bank of NY Mellon 119,091
369 092
2006 Airport PFC
Invesco Govemment&Agency Private 1,393,710 variable AAA open 0.02% 1 393,710 1,393,710 Bank of NY Mellon 127L861
1,393,710
2007 Refunding Lease Revenue Bonds
Invesco Government&Agency Private l variable AAA open 0.01% 1 1 Bank of NY Mellon 296069
1
2008 Airport PFC Refunding
Invesco Government&Agency Private 619.377 variable AAA open 0 02% 618.377 618,377 Bank of NY Mellon 618,377
618,377
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,189,800 variable AAA open 0.01% 3,199,800 3,189,800 Bank of NY Mellon 1,199774
3,189.800
2014 Merged Project 1 &2/Housing Refunding
First American Government Obligation 11,615 variable AAA open 0.01% 11,615 11,615 US Bank 11,615
11,615
Chevron/CoGen Lease Proceeds
Cash 4,906,864 4,906,864 4,906.864 Deutsche Bank 5,908,164
4,906,864
Funds With Century Gulf 420,582 420,582 420.582 Century Golf 371,034
420.582
Totals 15.904.171 15,911,004 $ 13 807,884
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
October 31, 2014
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 96.96%
1 year to 3 years N/A 50.00% 0.74%
3 years to 5 years N/A 30.00% 2.31%
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% 0.92%
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% 12.25%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 11.88%
LAIF N/A 100.00% 54.08%
U.S. Government Agencies N/A 60.00% 41.98%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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