HomeMy WebLinkAbout11/5/2014 - STAFF REPORTS - 2.G. Q PALM SA
�O 4�
y
V N
a +
°A°esam
cq<fFORN�P City Council Staff Report
DATE: November 5, 2014 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
SEPTEMBER 30, 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 September 30, 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
$116,506,883 plus $13,804,837 bond issue capital projects, reserve and debt
service funds. There is an additional $1,172,876 in various miscellaneous/trust
accounts. The market value of the invested cash is $116,309,149.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of September 30, 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. _�L�
City Council Staff Report
November 5, 2014— Page 2
Treasurer's Investment Report as of September 30, 2014
The weighted average maturity (WAM) of the portfolio is 586.46 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. Kie I, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
September 30, 2014
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 9,856,357
CalTrustShortTerm 15,266,976
CalTrust MidTerm 12,870,461
State Pool 25,024,894 $ 63,018,689 54.09%
Short Term Investments
(I year or less)
U.S.Gov't Agencies 48,991,000
Corporate Notes 1,000,000
Time Deposits 200,000 50,191,000 43.08%
Medium Term Investments
(I year to 3 ears)
Time Deposits 799,600 798,600 0.69%
Long Term Investments
(3 Year to
5 ears)
U.S. Gov't Agencies 2,498,594 2,498,594 2.14%
$ 116,506,883 100.00%
treasrep
10/21/2014
O
W
TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
September 30,2014
Par Coupon Purchase Maturity Fnst,Next Optional Days Yield Adjtmted Camgmy (inen only) Prior Qtr
Value Rye BflVng Date Date Call Date tom, w M(un Cost Bast Trod Market Value Suture Market Value
Qn Call Deposits
Checking.Bank of Amerlea g 9,856,357 N/A AAA demand N/A I None 9816.35) $ 9R%.351 Bank of Amenca 3485,129
CeITruat Sh9nTerm 15011 variable N/A demand N/A 1 041% 11.2br % IS.'_]},157 CrITruat 20211,991
Celtluat Miffenn 12,500,000 variable N/A demand N/A 1 015% 12,970,461 12,929.85; CtITrt15t 19328365
Loeal Agnry).veal Food(LAIF) 25,000.000 stable N/A demand N/A 1 0246% 25,024,894 25.032,390 LAIF 30024027
62,356,357 630186B9 62,91 71 Cut,511
Shan Temr Invesrmems
(I ynr 9r less)
US Gov'I Ageocy Secundea
Federal Home Loan Bank 0 210% N/A 04/30/14 07/30/14 - 2 10% 0 0 Bulk of NY Mellon 2001 000
Federal Home l.9an Bank 1.000,000 045% NIA 05/09/13 05/09/16 I0,01/14 581 041% 1000000 996.170 Bank of NY Mellon 996610
Federal Farm Credit Bank 1000,000 0.85% N/A OS/15,92 01/15/17 10,01/14 869 081% 909,000 999,171 Bank of NY Mellon 998.040
Federal Farm Credit Bank 2,000,000 099e N/A 08/15,12 OR,11/17 10101/14 1,050 093% 1997,000 1992.960 B-1.of NY Mellon Ii996,400
Federal Home Loan Bank 2,000,000 1fei N/A 09/I9/12 00/1VI7 10,01/14 1084 100% 1999000 1091420 Bonk of NV Mellon 1991060
Federal Farm Credit Bank 2.000,000 1.12% N/A 02/20/13 02/20/18 10/01/14 I_39 1-12% 20o0L00 1991820 B-1.of NY Mellon 1908060
Federel H9me Loan Bank 2,000,000 2.07% N/A 04/11,14 04,15119 10%01/14 1,1158 207/o 2000ADO 199e,120 Bank ofNY Mellon I918"In
Federal Home Loan Bank 2,000,000 2.00% N/A 07,09/14 07,09119 10/08/14 1,742 2Oiy 2000000 2000,140 Bonk of NY Mellon 0
Federal Home Loan M9rtgage Corporation 1600,000 100% N/A 01/11/13 01itI/I8 l0/11/14 1,199 101 1,00(000 988.720 Bark of NY Mellon 991,r430
Federal Home Loan Bank 2,000,000 1.50% NIA 01/I1/14 0745119 10/15/14 1,949 2-OT/e 2,000000 1966.120 Bonk of NY Mellon 0
Federel Home Loan Mortgage Corporation 2,000000 101% NIA 01116/13 01/16118 10/16/14 1,204 105% 3000,000 1099.500 Bank of NY Mellon 1,984761)
Federal Home LOen Mongpge Corporation 2,000.000 200% N/A 07/24/14 07,24/19 10/24114 1,758 200% 2,000000 3002.480 Bank.1 NY Mellon 0
Federal Home Loan Mortgage C.Toradon 2,000,000 1.15% N/A 04/25/13 0425/I8 I0,25/14 1303 111% 2,000.000 1,975340 Bank of NY Mellon 198 1,840
Pederel Nerionel Mama.,Miami 4,000,000 103% N/A 01/30/11 01,10/19 10/30/14 1,218 103% 4,000,000 3946,080 Bank of NY Mel ton 3,958,640
Federal Home Loan Bank 1000,000 100% N/A 01/30/I3 01;30119 10,30/14 1213 100`/ 1,000,000 989.110 Bank of NY Mel ton 990.IM
Federal Home Loan Bank 2,000000 1.85% NIA 01110,14 01,30/19 1030/14 1,583 185% 2000.000 1996,680 Bank of NY Mellon Ir10 ISO
Federal Home Loan Bank 1000.000 1OS% N/A 0113 02/I1/19 11/12/14 1231 105% 1001 988,880 BankofNY Mellon 990920
Federal National Mongage Assomanon 2,000,000 1.03% N/A 05/21,13 01,21/1R I1,21114 1,329 103% E000,000 1.96I840 Ban k of NY Mel ton 1%6360
Federal National Mortgage Asmnances 1,000,000 100% N/A 08/28/12 0828/11 11,28/14 Louis 100°i 998,000 9e2,620 Bunk of NY Mellon 99'1
Federal National Mongage A...otarion 2,000,000 1.Us. NIA 08/29,12 0923/17 1129'14 1063 1.1T1 200B0110 1994,820 Bankof NY Mellon 2001Oro
Federal Home Loan Mortgage Corporation 1,000000 205% N/A 0giXl4 08,13/19 1128/14 1,791 201% 1,000000 out,I SO Bank of NY Mel Inn 0
Federal Honor Loan Bank 1000.000 0A5% NIA M/29/I3 01/29i9 IIC9;14 1,311 095% 1000000 092.610 Bank of NY Mellon o9S120
Federal Home Loan Bank 1000000 0.80% N/A 06/12/13 06/1^J18 12112'14 1,3p1 0.S(Y/ 1,000.000 )91,590 Bank of NY Melon 992]60
Federal Honor Loan Mou,,a Carpormian 2,000,000 1.00% NIA 09/20,12 09,20/17 1220/In 1,086 1OVI. 2000.1100 1990.830 Bank of NY Mellon 199b.91,0
Federal Home Loan Mortgage Comommon 2,000,000 120% NIA 03/2n,13 0320/19 1220'14 1361 1.20% -2000,000 1992,080 Bonk of NY Mel lnn 1992400
Federal Home Loan Bank 2,000.o00 1.00% NIA 06,120,13 Otd20/1R 1220/14 1,359 1004 1999,000 1980180 Bank of NY MCIIon 1983.340
Federal Home Loan Mortgage Corporation 2,000,000 104% N/A 0,127112 0927/17 I2/29/14 1093 104% 2,001r,006 1984,140 Bank of NY Mellen 1990,260
Federal National Mongage Asl imlon 2.000,000 107% NIA 09,127112 0921/l7 12/27/14 1093 IOY/e 2000,000 1998,660 Bank of NY Mellon 2,002940
Federal National Mongage Association 2000000 200% N/A 04/10d4 04/30/19 04,30/15 Iy71 2000/ 2000,000 2,000,080 Bonk of NY Mellen 200R 520
49000,000 49,9910D0 48.689,F4 43,614.60V
Coryorare Nines
General Electric Cattle]Carparation I,002000 073%AIIAA, Ni 13/12 04/13/15 N/A 195 023% 1000000 1002,390 Bail NA Mellon 1003.510
1,000,000 1060,000 1.002380 100 3,510
Time Deposits
Ally Bank CD 200,000 1.15% N/A 121/12 7,27/11 N/A 300 1.15% 20000 200,060 Bonk of NY Mellon 200,000
200,000 200 in) 200000 200,000
«ust,
0
Iii
TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
September 30.2014
Par Coupon Purchase Maturity Fit,,Near Onoonal Days Yield Adjusted CmegmY totem.only) Pnot Or
V.I.. KBig Rat limn g Dare Veto CiiIJ Date to alyRp to minor Cost Baas Tonal Market Vrlue 5 uurce Marke Vahz
Medium Term Inve#,rams
(I year to 3 veers)
Time Dzposins
Gfi Cap Retail Bank CD 20g000 135% N/A 9f20/12 7.20/16 N/A 659 135% 200,000 202,158 Bank of NY Mellon 263014
GE Cap Bank CD 200.000 135% N/A 220/12 7/20,16 N/A 659 115% 200000 202,159 Bark of NY Moller 201014
Goldman Sachs Bank CD 200,000 1.80% NA TT5/12 725/1/ N/A 1,029 1.90% 199,600 203.235 Bank of NY Mzllon '_04J 13
Unceaver Bank CD 200.000 VO% N/A 226/12 7/26,17 N/A 1,030 1]0% 200,0N 202,678 Bank of NY Mellon 204,101
900,000 294,6W 910,220 314,895
Laub T<rm]nveslment
(l years m 5 years)
V.S.CroN Agenry Securiniea
Federal National Nlortyage Aiiociadat 2,000,000 I.10% N/A uV12/I3 01,12/19 092119 1,259 110% 26000M I9J1,48O Bank of NY Mellon 1990920
Financing Corporation(FICO) 500.000 9.30% N/A 04/06B8 N/OW98 N/A 1284 9.80% 498594 642,179 Bank of Anenca 654,107
2S00,000 24e8.594 11141,58 2645,T22
Tonal lnvesmd Coal, S 115,656,357 S 116,506893 S 116,109,149 E 121522,836
Current Quarter Portfolio Yield 0 80% 065°i°
Benchmark Yields. Pont Quunee
12 Month LAIF Average 0 25% PCnfoho Yield
2 Year Consianl Maturity Treasury UAI%
'Interest Intone for file Quarto Fndmg 09.130/2014 238,999
'Gass innocent refute deduentn of investment related fees
O
>f
TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
September 30, 2014
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 116,506,883 $ 116,506,883
$ 116,506,883
Miscellaneous Accounts
Petty Cash 4,000 N/A N/A open None 4,000
Trust&Agency-Bank of America 1,007,484 N/A N/A open None 1,007,484
Downpayment Assistance(Housing 33,856 0.05% N/A open 0.15% 33,856
Fund)-Bank of America
Workers Compensation- Bank of America 56,944 N/A N/A open None 56,944
General Liability-Bank of America 29,411 N/A N/A open None 29,411
1930's General Store Museum-Bank of America 8,189 N/A N/A open None 8,189
On-Line Credit Card Fire Inspection Fees 31,072 N/A N/A open None 31,072
-Bank of America
On-Line Credit Card Transportation Permits 1,920 N/A N/A open None 1,920 1,172,876
-Bank of America
Total Cash Deposited S 11 T679,759
treasrep
10/21/2014
O
TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
September 30, 2014
Par Coupon Yield Adjusted Category (memo only) Prior Qlr.
Value Rate Ratine Maturity to Maturity Cost Bass Total Market Value Source Market Value
2012/2014 Convention Center
First American Government Obligation 14,182 variable AAA open 0.01% 14,182 14,182 US Bank 5,939,251
14,182
1991!01 Senes B-Housing
Invesco Government&Agency Private 9 variable AAA open 0 02% 9 9 Bank of NY Mellon 773.578
9
2004A/B,Merged Project 91/92
Invesco Government&Agency Private 303 variable AAA open 001% 303 303 Bank of NY Mellon 2,998.456
303
2007A,B,&C Tax Allocation Bonds
Invesco Government&Agency Private 10 variable AAA open 0 01% 10 10 Bank of NY Mellon 2.998456
10
1998 Airport PFC
Invesco Government&Agency Private 1,197746 variable AAA open 0,01% 1,197,746 1,197,746 Bank of NY Mellon 1,186,547
1,197 746
2002 Parking Structure
Cash 3 3 3 Bank of NY Mellon 3
Invesco Government&Agency Private 1,520 variable AAA open 0.01% 1,520 1,520 Bank of NY Mellon 1461
1,524
2004 Assessment District 161
GE Capital Bank CD 200,000 1.70% N/A 01/17/2019 1,70% 200,000 200,458 Bank of NY Mellon 200,368
Goldman Sachs Bank CD 100,000 1.90% N/A 01/2/2019 1,90% 100,000 100,589 Bank of NY Mellon 101481
Invesco Government&Agency Private 97,397 variable AAA open 0.02% 97,397 97,397 Bank of NY Mellon 94 902
397,397
2004 Assessment District 162
Goldman Sachs Bank CD 90,000 190% N/A 01/22/2019 1.90% 90,000 90,530 Bank of NY Mellon 91.333
Invesco Government&Agency Private 67,683 variable AAA open 0.02% 67,683 67,683 Bank of NY Mellon 66,847
157.683
treasrep
1oi21/2014
O
TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
September 30, 2014
Par Coupon Yield Adjusted Category (memoonb PriorQtr.
Value Rate Racine Maturity to Maturity Cost Basis Total Market Value Source Market Value
2005 Assessment District 164
OF Capital Retail Bank CD 200,000 1.90% N/A 01/17/2019 1.90°0 200000 201.I75 Bank of NY Mellon 202.954
Goldman Sachs Bank CD 50,000 1.90% N/A 01/22/2019 1.90% SQ000 50.295 Bank of NY Mellon S0,740
Invesco Government&Agency Private 119,091 variable AAA open 0 02% 119,091 119,091 Bank of NY Mellon 116,773
369,091
2006 Airport PFC
Invesco Government&Agency Private 1,271,861 variable AAA open 0.02% 1271,861 1.271,961 Bank of NY Mellon 2,20,L228
271,861
2007 Refunding Lease Revenue Bonds
Invesco Government&Agency Private '96.069 variable AAA open 0.01% 296,069 296 069 Bank of NY Mellon 3
296,069
2008 Airport PFC Refunding
Invesco Government&Agency Private 618,377 variable AAA open 0 02% 618,377 618]77 Bank of NY Mellon 647,464
618,377
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,189,774 variable AAA open U. l% 3,189,774 3,189 774 Rank of NY Mellon 3, 89 694
3,189 774
2014 Merged Project I&2/Housing Refunding
First American Government Obligation 11,615 variable AAA open 0.01% 11,615 11,615 US Bank 2,998,456
11,615
Chevron/CoGen Lease Proceeds
Cash 5,908,164 5,90&164 5'908,164 Deutsche Bank (,7'1241
5,908.164
Funds With Century Golf 371,034 371,034 371034 Century Golf 1,102,738
371,034
Totals 13.804,837 13,807,984 S 31686,875
treasrep
10/21/2014
00
TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
September 30, 2014
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.17%
l year to 3 years N/A 50.00% 0.69%
3 years to 5 years N/A 30.00% 2.14%
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% 13.10%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 1 1.05%
LAW N/A 100.00% 50.05%
U.S. Government Agencies N/A 60.00% 44.19%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
treasrep
10/21/14
O
CO