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Home My WebLink About10/1/2014 - STAFF REPORTS - 2.D. AOi PALM Sp4 �y U V N co ° ' C4(/FORNNP City Council Staff Report DATE: October 1, 2014 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF AUGUST 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 August 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 $113,733,919 plus $14,803,447 bond issue capital projects, reserve and debt service funds. There is an additional $1,148,771 in various miscellaneous/trust accounts. The market value of the invested cash is $113,697,141. RECOMMENDATION: Receive and File Treasurer's Investment Report as of August 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 October 1, 2014 — Page 2 Treasurer's Investment Report as of August 31 , 2014 The weighted average maturity (WAM) of the portfolio is 614.84 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. Krehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS August 31, 2014 - On Call Deposits Adiusted Basis Category Total Percentage Checking Account $ 7,098,260 CalTrust ShortTerm 15,261,470 CalTrust MidTerm 12,861,102 State Pool 25,024,894 $ 60,245,725 52.97% 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 44.13% Medium Term Investments (1 ear to 3 ears) Time Deposits 798,600 798,600 0.70% Long Term Investments (3 yew to 5 ears) U.S.Gov't Agencies 2,498,594 2,498,594 2.20% $ 113,733,919 100.00% treasrcp 09/22/2014 Q W TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS August 31.2014 Par Coupon Purchase Maumty FrsvNeal Optional Days \'field Adjusted Camgnty Oroiia.only) Poo Qlr \'aloe Roe Ran. pplg Dane Call Date t0� to Mammy Coel Bas. Total Market Value Source Market%aloe on Call Deocants Checking-Bank of Amenca 8 7�098,260 N/A AAA demand N/A I None 7,098260 8 1.098.260 Bank of Amenca 3,415.129 CelTrusl Montle. I5W0.000 variable N/A demand N/A 1 0.36% 15.261,470 11269,01 ('all ntst 20251,,906 CalTmsl MidTerm 12,500,000 a.n.ble NIA demand N/A 1 0 A% 12 861.102 12832 246 CalTroso 19,329,369 Local Agency Invest grand MAfF) 25,000001) variable N/A demand N/A 1 0260% 25,024.994 25033170 LAW 30,024,027 59,598,260 60245725 60232.526 73,094.511 Shan Tern Investments (1 greet pr less) U S.Gov't Agency Secumlea Federal Home Loan Bank 0 2.10% N/A 04/30/14 0900/14 - 2.10% 0 0 Bank of NY Mellon 2,003,000 Federal Hone Loan Bank I.000,000 045% N/A 05M9/13 05/09/16 09,01714 617 045% 1000,000 99],3]0 Bank of NY Mellon 996,610 Federal Farm Credit Bank 1000000 0.85% N/A 08/15/12 02/15/17 09,101114 999 0.85% 999,000 999,ZOO Bank of NY Mel lon 998,640 Federal Farm Credit Bank 2,000,000 0.98% N/A 08/15/12 02/15/17 0901114 I'm 099./1 1997000 1996,620 Bank of NY Mellon 1996A00 Federal Home Loan Bank I,WO000 1.00% N/A 09d8/12 09/I8/17 09NVI4 1.114 1.00°. 1990,000 1906,860 Bank ol'NY Mellon 1996060 Federal Farm Credit Bank 2.000,000 1.12% N/A 02,20/I3 02120,18 09t01,14 1269 1.12% 2OW,000 1,997,020 Bank of NY Mellon 1998060 Federal Home Loan Bank 1,W00W 2.07% WA 04/15/14 04/15/19 09N 1114 1688 2.07% 2,000.000 2,000.1 On Brink of NY Mellon 1998.580 Federal Home Loan Bank 1000,000 U0% N/A 06,1 V13 06/12/18 Nil 2114 1,381 0.89%° 1000000 094,410 Bank of NY Mellon 992960 Federal Home Co.Mortgage Connotan.n 1,000,000 1.00% N/A 09/20/12 09/20/17 W/20114 1.116 1.00'. 2,000.000 I99590n Bank of NY Mellon 1990900 Federal Home Loan Montage C9nn9raram 2,000,WU 120% N/A 0320113 0320/18 09/20/14 1297 1201L 3.000,000 199'1,920 Bank of NY Mellon 1999g00 Federal Home Loan Bank 1,WO,OW 1.00% N/A 06/20113 06/20/13 09R0114 I189 1.00% 1,998,000 1986640 Bank of NY Mellon 1933340 Federal Home Loan Montage Coronation 2,000,000 1.04% N/A 09/27I12 09/27/17 09/27/14 1,123 IU4% 2.W0.000 1,989,520 Bank of NYMellnn 1,990260 Fadarel National Mortgage Association 2000,050 107% N/A 09/27112 0927/17 09/2714 1,123 1.07% 2,WO.000 1996.640 Bank of NY Mellon :002.940 Federal Home Loan Bank 2,00,000 2.00% N/A 07/03/14 07,09/19 10/08/14 I;172 200% 2,W,000 2,003,360 Bank of NY Mellon 0 Federal Home Loan Mongolia Coporation 1000,00o 100% N/A OPI1113 01/11,13 10/1 UI4 1,220 1.00% I,W0,000 99114n Bank of NY Mellon 991430 Federal Home Wan Bank 2,000,000 1.50% NA 07115/14 07/15A9 IOd5/14 I)]9 2.n0% 2000.000 197I180 Bald:of NY Mcllan 0 Federal Home Loan Mmi9W Corporation 2,000.000 101% N/A Nitwit 01/16/19 10/16/13 I.D4 1.05% 2000000 1995040 Bank of NY Mellon 1984760 Federal Home loan Montage Corporation 2,000,000 200% N/A (1 0724/19 10,24/14 1;188 200% 2000000 2.005580 Bank of NY Mcllon 0 Federal Home Loan MOngage Connotation 2.000.000 1.15% N/A 04/25/13 04/21,13 I0,2VI4 1.333 115% 2000000 1081680 Bank cf NY Mellon 1981940 Federal National Mortgage Association 4,000.00 103% NA 01/3011 01/30/1a IA30114 1249 1.03% 4.0()0000 39618W Bank of NY Mellon i950.640 Federal Home Loan Bank 1000,000 1.00% N/A 01F10/13 01H0,I8 10/10114 1248 1.00% 1,000000 990,900 Bank of NY Mellon 990190 Federal Home Lmm Bank 2,000,000 1.85% NIA 01r30/14 0I90/19 1&30114 1613 1.85% 2000,000 1004,100 Band of NY Mcllon I990.180 Federal Home Loan Bank 1000,000 105% N/A 02/12/11 02/12,18 11/12/14 1261 1.05% 1000000 991620 Bank cf NY Mellon 990920 Federal Naional Mongolia Association 2,000,000 103% N/A 05121/13 0521Ila II/21114 1.359 1.03% 2.WO,o00 197192U Bank cfNY Mellon 1966.360 Federal National Mari,,Association 1000,000 1.00% N/A 0828/12 0828/17 11,23114 I'm 1.00% 998000 995950 Bank of NY Mellon 996.094 Federal National Mortgage Asso9iau.. 2,000,000 1.10% NA 08/28/12 0828/17 11/23/14 1,n93 1.10% 2,000000 2,001320 Bank of NY Mcllan 2,001960 Federal Home Loan Mangos,Cp,mara n 1000,000 205% N/A 0828/14 OV28/l9 11/28114 1,923 2.05% 1000001) 1002410 Bank cf NY Mellon 0 Federal Home Loan Bank 1,000,000 075% N/A 05129/13 0529118 11/29/14 I367 075% 1000000 995260 Bank of NY Mel Ion Wl720 Federal National Montage.Association 2,000,000 2.00% N/A 04/30/14 04/30d9 W30115 I]03 2.00%: 1,0(0,000 2006,580 Bvtk of NY Mel Ion 2W8.580 49,000,000 48,991,000 48,921,060 43 814.604 Corporate Now Ganentl Electric Copinl Connotation 1,000.006 0.73% Al/AAA 04113/12 04/I395 N/A 225 0]3% 1 Mo,ono 1002 800 Bvtkof NY Mellen 1001,510 1,000,000 1000,000 1,002,800 1003.510 Time Deposits Ally Bank CD 2000UO 1.li% N/A 721112 7,27,15 WA 130 1.15°e 200000 200.000 Bankaf NYMellnn 200,000 200,000 200000 200,000 200.000 s.nc, 09Rx12n14 0 1� TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS August 31.2014 Par Coupon Purchase Matuttty FirsoNext Optional Days Yield Adjusted Category (nemn only) Pnor Or, Value RRolle Rai ne D�le D.a Call Date to Mawrity m Mamnry Cost Ba51s Total Market Value Source Market Value Medium Tems lmxnmenrs [1 year w 3 years] Time Deposits UP Cap Retail Bank CD 200,000 135, N/A 9,20/12 1/20/16 N/A 689 I31% 200,000 202,516 bank of NY Mel lon 101,014 GB Cap Bank CD 200,000 135% N/A 9R0112 7/20,16 N/A 689 1.35% 200000 202,516 Bank of NY Mellon 201034 Goldman Sachs Bank CD 200,000 180% N/A T25/12 0/25/I] N/A 1019 Igo% 198000 203,966 Bankof NY Mellon 204.713 Diswver Bank CD 200.000 190% N/A 7/26/12 7126/19 N/A 1060 1.20% 200,000 203,391 Bank of NY Mellon 1_04J OS 80000 799000 $12.388 914,985 Long Term Investment (3 3ears to 5,ears) U.S.Goa%Agency Secumles Federal National Afongage Aswcialion 2000,000 110% N/A 01;12/13 03/12,18 03/1V18 1.2%9 110% 2,000000 1.980,900 Bank of NY Mellon 1990920 Financing Connoration(MCO) 500000 980% N/A 04/06/99 04/06/18 N/A 1.314 9.80% 498.504 (47.W Bankuf America 654A02 2,500,000 2,409,594 2,628,362 2645327 Tot.)Invested Cash S 112,399,260 $ 113,711919 5 113,697,141 5 121}22,836 Ircmrep 09/22/2014 O C TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS August 31, 2014 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 113,733,919 $ 113,733,919 $ 113,733,919 Miscellaneous Accounts Petty Cash 4,000 N/A N/A open None 4,000 Trust&Agency-Bank of America 1,005,435 N/A N/A open None 1,005,435 Downpayment Assistance(Housing 33,852 0.05% N/A open 0.15% 33,852 Fund)-Bank of America Workers Compensation-Bank of America 43,110 N/A N/A open None 43,110 General Liability-Bank of America 30,000 N/A N/A open None 30,000 1930's General Store Museum-Bank of America 8,548 N/A N/A open None 8,548 On-Line Credit Card Fire Inspection Fees 22,367 N/A N/A open None 22,367 -Bank of America On-Line Credit Card Transportation Permits 1,459 N/A N/A open None 1,459 1,148,771 -Bank of America Total Cash Deposited $ 114,882,691 trcasrep 09/22/2014 O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS August 31, 2014 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Ratine Maturity to Maturity Cast Basis Total Market Value Source Market Value 2012/2014 Convention Center First American Govemment Obligation 14,164 variable AAA open 0,01% 14,164 14,164 US Bank 5939,251 14,164 1991/01 Series B-Housing Invesco Govemment&Agency Private 7 variable AAA open 0.02% 7 7 Bank of NY Mellon 773,578 7 2007A,B,&C Tax Allocation Bonds Invesco Govemment&Agency Private 702,819 variable AAA open 0.01% 702,819 702.919 Bank of NY Mellon 2,998,456 702,819 1998 Airport PFC Invesco Government&Agency Private 1,132,337 variable AAA open 0.01% 1,132,337 1,132337 Bank of NY Mellon 1,186547 1,132,337 2002 Parking Stmcture Cash 3 3 3 Bank ofNY Mellon 3 Invesco Government&Agency Private 1 634 variable AAA open 0.01% 1,634 1,634 Bank of NY Mellon 1461 637 2004 Assessment District 161 GE Capital Bank CD 200,000 1,70% N/A 01/17/2019 1.70% 200,000 200,977 Bank of NY Mellon 200,368 Goldman Sachs Bank CD 100.000 1,90% N/A 01/22/2019 1.90% 100,000 101,213 Bank of NY Mellon 101 481 Invesco Government&Agency Private 329.690 variable AAA open 0 02% 329,690 329,690 Bank of NY Mellon 94.8K 629,690 2004 Assessment District 162 Goldman Sachs Bank CD 90,000 190% N/A 01/22/2019 190% 90000 91091 Bank of NY Mellon 91,333 Invesco Government&Agency Private 133,251 variable AAA open 0.02% 133251 133,251 Bank of NY Mellon 66,847 223,253 treurep 09/22/2014 O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS August 31, 2014 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rat ne Maturity to Maturity Cast Basis Total Market Value Source Market Value 2005 Assessment District 164 GE Capital Retail Bank CD 200,000 1.90% N/A Oli 17-/2019 1.90% 200.000 202,419 Bank of NY Mellon 202,954 Goldman Sachs Bank CD 50,000 1.90% N/A 01 i22/2019 1.90% 50000 50,606 Bank of NY Mellon 50,740 Invesco Government&Agency Private 314,572 variable AAA open 0.02% 314,572 314,572 Bank of NY Mellon 116,773 564,572 2006 Airport PFC Invesco Government&Agency Private 1,150,012 variable AAA open 0.02% 1,150,012 1,150,012 Bank of NY Mellon 2,204,228 1,150012 2007 Refunding Lease Revenue Bonds Invesco Government&Agency Private 3 variable .AAA open 0.01% 3 3 Bank of NY Mellon 3 3 2008 Airport PFC Refunding Invesco Government&Agency Private 618,377 variable AAA open 0 02'. 618,377 618,377 Bank of NY Mellon 647464 618,377 2012 Downtown Revitalization Lease Revenue Bond Reserve Invesco Government&Agency Private 3,189,747 variable AAA open 0,01% 3,189,747 3,189,747 Bank of NY Mel lon 3,I89694 3,199,747 2014 Merged Project 1&2/Housing Refunding First American Government Obligation 13,331 variable AAA open 0,01% 13,331 13,331 US Bank 2,998,456 13,331 Chevron/CoGen Lease Proceeds Cash 5908.164 5,908,164 5908A64 Deutsche Bank 6,721241 5,908,164 Funds With Century Golf 655,337 655,337 655,337 Century Golf 1,102,738 655,337 Totals 14,803 447 14,809,753 $ 28 688,419 treavrep 09/22/2014 0 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS August 31, 2014 By Maturity: Minimum Maximum Current Mo. 1 day to 365 days N/A N/A 97.10% 1 year to 3 years N/A 50.00% 0.70% 3 years to 5 years N/A 30.00% 2.20% 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 I Year N/A 50.00% 13.42% Money Market Mutual Funds - More than 1 Year N/A 25.00% 11.31% LAIF N/A 100.00% 50.05% U.S. Government Agencies N/A 60.00% 45.27% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% treasrep 09/22A 4 r10