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4<�FORN` City Council Staff Report
DATE: September 3, 2014 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
JULY 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 July 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
$113,257,688 plus $24,764,756 bond issue capital projects, reserve and debt
service funds. There is an additional $1,150,360 in various miscellaneous/trust
accounts. The market value of the invested cash is $ $113,024,076.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of July 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
September 3, 2014— Page 2
Treasurer's Investment Report as of July 31, 2014
The weighted average maturity (WAM) of the portfolio is 615.70 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:
�YNone
�l Geoffrey S. jehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
July 31, 2014
On Call Deposits Adiusted Basis Cateeory Total Percentage
Checking Account $ 2,633,754
CalTrust ShortTerm 17,254,408
CalTrust MidTerm 15,856,438
State Pool 25,024,894 $ 60,769,494 53.66%
Short Term Investments
(1 year or less)
U.S.Gov't Agencies 47,991,000
Corporate Notes 1,000,000
Time Deposits 200,000 49,191,000 43.43%
Medium Term Investments
(1 year to 3 ears)
Time Deposits 798,600 799,600 0.71%
Long Term Investments
(3 ear to 5 ears)
U.S.Gov't Agencies 2,498,594 2,498,594 2.21%
$ 113,257,688 100.00%
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
July 31, 2014
Par Coupon purchase Maturity first/Next Optional Days Yield Adjuated Category (memo only) prim,QB.
Y31ue Bale RW,, RID[ D2 Call Date, 1,Manor n Mn M,turin• Co.Baia Lygl Marke•Value Snore, Mmket Value
On CAI a sits
Checking-Bank of America $ 2.633,734 N/A AAA demand NIA 1 None 2,633,754 $ 2,633,754 Bank of Amerlrs 3,485,129
CalTruat SbonTerm 17,OOQ0W variable N/A demand NIA 1 0,39% 17,254,408 17,263 60) CalTtust 20,256,986
CalTruct MWTenn 15,5W." variable NIA demand N/A 1 0.70% 15,856.438 15,805.113 CalTruat 14,328,369
Local Agency Invest Fund(LAIF) 25.000,000 variable N/A demand NIA 1 (1244% 25,024.8% 25,032,370 LAIF 30.024,027
60,133,754 W,769,4N W,734,898 73,N4,511
Short Term Investments
(1 ear or less)
U.S.Gov't Agency Securities
Federal Home]urn Bank 0 2.10% NIA W/30114 07/30,14 - 2.10% 0 0 Bank of NY Mellon 2.W3A00
Federal Home Wan Bad, I,01W,000 0,45% NIA 051119113 05A)l 08/01/14 648 0.45% 1.010,W0 t)%.250 Bank of NY Mellon 9966610
Federal Farm Credit Bank Ll%IO.OW 0.85% N/A 005112 02/15/17 08/01/14 930 0.85% 999,IX10 W7,188 Bank of NY Mellon 998640
Federal Farm Crodu Bank 2,",OW 0,98% NIA 08115/12 09/15/17 081OU14 1,111 0.98% 1997,0A1 19W,760 Bank of NY Mellon 19964W
Federal Home Wan Bank 2,OOg000 I.W% NIA NI18112 N118117 09/01/14 1,145 1.00% 1,9N.OW 1.990.625 Hank of NY Mcllan 1996,OW
Federal Farm Credit Bank 2,",W 1.12% NIA 02120113 02/20/18 08/01/14 1,3W 1.12% 2A00.000 1.991.780 Hank of NY Mellon 1.998,060
Federal Home Wan Bank 2.OW.000 2.0% N/A 04115/14 N/15/19 08/01/14 1,719 2.07% 2.",M 1,Wl,Id(1 Bank of NY Mellon 1,99A,580
Federal Home loan Bank 1,13W,W0 0.80% N/A 06I12/13 %/12/18 W112/14 1412 O.W% I'"." 989.S30 Bank of NY Mellon 99236C)
Federal Home Wan Mortgage Corporation 2,000,000 LW% N/A N120/12 NRO/17 NW14 1.147 1.00% 2WQ000 1.9W,960 Bank of NY Mellon 1996.91X)
Federal Horne Loan Mortgage Corporation 2,000,000 1.20% N/A 03120/13 01/20/18 09/20/14 1,328 1.20% 2AOQ000 1,991.rYJO Bard,of NY Mellon 1.997,4W
Federal Home Wan Bank 2,000,OW 1.00% N/A 06/20/13 06/20/18 W/20/14 1,420 I.W% 1.998,1XOfl 1,W7,240 Bank of NY Mellon 1,983,340
Federal How Wan Mortgage Coporation 2,000,000 I N% NIA 09I27/12 09/27/17 W/27/14 1,154 1.04% 2,IIOO,OW 1,984,220 Bank of NY Mellon 1,990,2fA
Federal Neriwad Mortgage Association 2,000,OW LW% N/A W/27/12 N/27/17 1)9/27114 1,154 1.07% 2.000.000 1,991,280 Bank of NY Mellon 2.W2940
Federal Home loan Bank 2,WgW0 2.W% N/A 07/08/14 OL08/19 10/08114 1,803 2,00% 2,0O.OW 1,995,312 Bank of NY Mellon a
Federal Home Loan Mortgage Corporation 1,000,000 I.W% N/A 01/11/13 OIIlUfll 10/11114 I,2W 1.00% I=" 988,2% Bank of NY Mellon 991.4,10
Federal Home Wan Bank 2,IXI0,W 1.50% N/A 07/15/14 07/15/19 10/15114 1,810 2.W% 2,1k)0,000 1958,140 Bank of NY Mellon 0
Federal Home Wan Mortgage Corporation 2,000.W) 1,05% N/A 01/16/13 01/16/18 10/16/14 1,265 1.05% 2.0(10,rkW 1.9WO20 Bank of NY Mellon 1,984.760
Federal Home Wan Mortgage Corporation 2,000,000 2.W% N/A 07/24/14 07/24/19 10/24/14 1,819 2.W% 2.0W,000 2W23W Bank of NY Mellon 0
Federal Home Loan Mortgage Corporation 2,000.000 1.15% NIA W/25/13 04Y25/18 10125114 1.364 1.15% 2,OW.WO 1,971W Bank of NY Mellon 1,981,800
Federal Natium l Mortgage Association 4,OOf1,Of,0 1.03% N/A 01/10/13 01/30/18 10130114 1.279 L03% 4.".W0 3,945,560 Bank of NY Mellon 1,958,640
Federal Home Wan Batik 1.000.010 I.W% N/A 0110/13 01/30/18 1060I14 1,279 I.W% 1."," 987,120 Bank of NY Mellon 9%,170
Federal Home Loan Bank 2,000.000 1.85% N/A 01/30/14 01/30/19 10130/14 1,644 1.85% 2.000.000 1.991340 Hank of NY Mcllan 1,999.180
Federal Home Wan BaNc 1,000,000 1.05% NIA 02/12/13 W112/18 11/12/14 1,292 1.05% I,0f14W0 987A10 Bank of NY Mellon 9W.920
Federal National MartMe,Association 2,000,000 1.03% N/A 05/21/13 05R1/IB 11121/14 13% 1.03% 2,000,000 1,%1.1W Bank of NY Mellon 1,966.36f1
Federal Natured Mortgage Association I,WQ000 I.W% N/A 08128/12 OSQ8/17 11128/14 1,124 I.W% W8,W0 %3,270 Bank of NY Mellon 996,094
Federal Natural Mortgage Association 2,0W,000 1.10% N/A M28/12 08/28/17 11128114 1,124 L 10% 2."," 1,996340 Bank of NY Mellon 2 W 1.960
Federal Home Wan Bank I.QW000 0,75% N/A 05/29/13 05/29/IB 11/29/14 1,199 0.75% 1,000,WO 9W.9W Bank of NY Mellon 993.720
Federal National Mortgage Associalion 2.000,1)00 2.W% N/A WnO/14 W/M/19 W30115 1734 2.W% 2,000.000 1,999.820 Bank of NY Mellon 2W8.580
48,000,00f1 47,991.OW 47,642,615 43,814,604
Corporate Notes
General Electric Capital Corporation I,OW,O(p 0.73% AIIAA+ 04/13/12 N/13115 N/A 256 0.73% 1,000,01D 1W3AM Benkof NY Mellon LW3.510
I.000,000 1,0W(W I.W3A70 I.W3.510
Two Deposal
Ally BankCD 2W,OW 1.15% NIA 7/27/12 7/7/I5 NIA 361 1 j15% 2W," 200,000 Bank of NY Mel to. 2W,"
2W.000 200," 2W." 2W.0N)
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
July 31,2014
Par Coupon Pmchaea Mamq Fnsl exl Optional Days Yrtld Adjusted Ca.,, (memo only) Pimr Ov
Ve1ue Rate Ral Der. Dam ('all Dale roMa�mnt. mr� Con Basis Tylai l Marker Value Soww Market"k,
Medium Term Inveslmems
f 1 ear S,3 eux)
Tima Depaaha
GE Cap Retail Bank CD 200,000 1.35% N.A 7/20/12 7120116 N/A 720 1.35% 200,000 202,429 Bank of NY Mellon 201034
GC Cap Rank CD 200,000 1.35. N/A 7,20/12 2/20/16 N/A 920 1.35% 200000 202,429 Bank of NY Mellon 203034
Goldman Sachs Bank CD 200000 1.80% N/A 7/25/12 7121117 N/A 1090 1.80°e 198,600 203,539 Bankof NYMellon 2047,13
Discover Dank CD 200,000 1.90% N/A 9/26/12 2/26/12 N/A 1091 I7W1 200000 202,949 Bank of NY Mellon 204,1n5
900.000 796600 911.347 914,881
Lang Term Invenmenl
f)years ro 5 years)
U.S.GoO Agenry Secnnties
Federal National M1fortgege M.,ation 1000060 1.10% N/A 03112113 03/12,18 03/12/18 1320 1W. 2000,000 1983360 Han4ofNYMellon 1990920
financing C,iw,ation(FICO) 500.000 990% N/A 04/O6B8 04106,13 MA 1345 980% 498,194 648,631 Bnnkof Amedra 654n02
1,500,000 1498,594 2,631047 2643327
Total lnvesM Cash S 112,433,754 S 113,257,688 S 113,024,076 $ 121,572816
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
July 31, 2014
Yield Adjusted
Par Value Coupon Rating Maturi to Maturity Cost Basis Category Total
Total Invested Cash $ 113,257,688 $ 113,257,688
$ 113.257,688
Miscellaneous Accounts
Petty Cash 4,000 N/A N/A open None 4,000
Trust&Agency-Bank of America 999,108 N/A N/A open None 999,108
Downpayment Assistance(Housing 33,848 0.05% N/A open 0.15% 33,848
Fund)-Bank of America
Workers Compensation-Bank of America 57,850 N/A N/A open None 57.850
General Liability-Bank of America 30,000 N/A N/A open None 3U00
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 15,544 N/A N/A open None 15,544
-Bank of America
On-Line Credit Card Transportation Permits 1,462 N/A N/A open None 1,462 1,150,360
-Bank of America
Total Cash Deposited $ 114,408,048
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
July 31, 2014
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value $ate Rat= Maturlq' to Maturi[v Cost Basis low Market Value Source Market Vaine
2012/2014 Convention Center
Invesco Goverment&Agency Private 5,937,299 variable AAA open 0.01% 5,937,299 5,937,299 US Bank 5,939,251
5,937,299
1991/01 Series B-Housing
Invesco Government&Agency Private 857,006 variable AAA open 0.02% 857,006 857,006 Bank of NY Mellon 773,578
957,006
1994104 Series A&1312007A,B,&C
Invesco Government&Agency Private 3,534,960 variable AAA open 0.01% 3,534,966 3,534,966 Bank of NY Mellon 2,99&456
3,534,966
1998 Airport PFC
Invesco Government&Agency Private 1,066,928 variable AAA open 0.01% 1,066,928 1,066,928 Bank of NY Mellon 1,186,547
1,066,928
2002 Parking Structure
Cash 3 3 3 Bank of NY Mellon 3
Invesco Government&Agency Private 246,638 variable AAA open 0.01% 246,638 246,638 Bank of NY Mellon 1,461
246,64t
2004 Assessment District 161
GE Capital Bank CD 200,000 1.70% N/A 01/17/2019 1.70% 200,(X)0 200,689 Bank of NY Mellon 200,368
Goldman Sachs Bank CD 100,000 1.90% N/A 01/22/2019 1,90% 100,000 100,683 Bank of NY Mellon 101,48t
Invesco Government&Agency Private 97,445 variable AAA open 0.02% 97,445 97.445 Bank of NY Mellon 94,802
397,445
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
July 31, 2014
Par Coupon Yield Adjusted Category interim only) Prior Qtr.
Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value
2004 Assessment District 162
Goldman Sachs Bank CD 90,000 1.90% N/A OL22/2019 1.90% 90000 90,614 Bank of NY Mellon 9L333
Invesco Govemment&Agency Private 67,695 variable AAA open 0.02% 67,695 67,695 Rank of NY Mellon 66,947
157,695
2005 Assessment District 164
GE Capital Retail Bank CD 200,000 1.90% N/A 01/172019 190% 200,000 20136) Bank ofNY Mellon 202.954
Goldman Sachs Bank CD 50,000 1.90% N/A 01/22/2019 1.90% 50,000 50,341 Bank of NY Mellon 50 740
Invesco Government&Agency Private It9,129 variable AAA open 0.02% 119,129 119,129 Bank of NY Mellon IIG773
369,129
2006 Airport PFC
Invesco Government&Agency Private 1,028,164 variable AAA open O.02% 1,028,164 1,028,164 Bank of NY Mellon 2,204,228
1,029,164
2007 Refunding Lease Revenue Bonds
Invesco Govemment&Agency Private 3 variable AAA open 0,01% 3 3 Bank of NY Mellon 3
3
2008 Airport PFC Refunding
Invesco Govemment&Agency Private 618,377 vanable AAA open 0.02% 618,377 618,377 Bank of NY Mellon 647,464
618 377
Reserve for 2012 Downtown Revitalization Lease Revenue Bond
Invesco Government&Agency Private 3,189,721 variable AAA open 0,01% 3,189,721 3,189,721 Bank of NY Mellon 3,189694
3,189,721
Chevron/CoGen Lease Proceeds
Cash 6,464,408 6,464,408 6,464,408 Deutsche Bank 6,721,241
6,464,408
Funds With Century Golf 896,973 896,973 896,973 Century Golf 1.102,738
896,973
Totals 24,764,756 24,768,443 $ 25,689 963
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
July 31, 2014
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days N/A N/A 97.09%
1 year to 3 years N/A 50.00% 0.71%
3 years to 5 years N/A 30.00% 2.21%
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% 15.23%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 14.00%
LAIF N/A 100.00% 50.05%
U.S. Government Agencies N/A 60.00% 44.58%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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