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Home My WebLink About9/3/2014 - STAFF REPORTS - 2.G. O�pALM Sp4 ,y W 4 N s`Ohvenv`� "``FOlt City Council Staff Report DATE: September 3, 2014 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF JUNE 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 June 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 $121,587,183 plus $25,683,087 bond issue capital projects, reserve and debt service funds. There is an additional $1,076,739 in various miscellaneous/trust accounts. The market value of the invested cash is $121,572,836. RECOMMENDATION: Receive and File Treasurer's Investment Report as of June 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._ -- City Council Staff Report September 3, 2014 — Page 2 Treasurer's Investment Report as of June 30, 2014 The weighted average maturity (WAM) of the portfolio is 525.16 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. Riehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS June 30, 2014 On Call Deposits Adjusted Basis Category Total Percentage Checking Account $ 3,485,129 CalTrust ShortTerm 20,246,126 CalTrust MidTerm 19,352,675 State Pool 30,015,060 $ 73,098,989 60.12 Short Term Investments (1 year or less) U.S. Gov't Agencies 43,991,000 Corporate Notes 1,000,000 44,991,000 37.00% Medium Term Investments (1 year to 3 ears) Time Deposits 600,W) 600,000 0.49% Long Term Investments (3 year to 5 ears) Time Deposits 398,600 U.S. Gov't Agencies 2,498,594 2,897,194 2.38% $ 121,587,183 100.00% treasrep 07/29/2014 W TREASURER'S MON1-1ILY REPORT DETAIL OF INVESTMENTS June 30,2014 Par Coupon P.,6,ue Memo, RrsvNezt Optional Days Yield Adjusted Category (memo only) Poor fin Valad Ram Ratio e Diva DaL Call Date Iq_M,N. so Mom n_ Cost Basis Total Market Valu Market Value On Call Deposits Checkm8-Bank of Amenca S 3485,129 N/A AAA demand N/A I None i,485,129 S 3495,129 Bank of America 12,298.960 GlTrust ShortTenn 20,000.000 variable N/.4 demand N/A 1 040% 20246.126 20156,986 CalTrun 22224,493 Caffmat MotTerm 19000.000 variable N,A demand NiA I a73% 19,312,671 19,128.369 ('a1Tnrs, 21,82 1,142 Local A,ji Invest Food(LA3Fj 10000.000 .able N/A demand N/A 1 0228% 10,015,060 30,024,027 LAID 15056 72,485,129 9t098989 710114.511 98,119,R46 Short Term lnvestmenu (I year m less) US Gott Agency Securities Federal Home Wen Bank 2,000,000 4.05% N/A 02113114 05/13/14 205% o U Bank of NYMellon 2W426I Federal Home Wan Bank 2000,000 2OWu N/A 02114,114 0915/14 2.00% 0 0 Bank of NY Mellon 2NO"a Federal Home Wen Bank IOOg000 0,45% N/A 05/09/13 05/09116 01rt11114 629 045% 1,000,000 996610 Bank of NY Mellon 996,160 Federal Faun Credit Brunk IOOO.00O 0.85% WA 08/1S/12 02,15/17 02101/14 961 1181% 90o,000 998,640 Bank of NY Mellon 994,020 Federal Pa.Credit Bank 2000,000 098% N/A 03/15/12 09/15117 070W4 1.142 0.98°1. 1,997,000 1996400 Bank of NYMellon 1994820 Federal Flom,Loan Bank 2000,000 IOW/e WA 09/18/12 09/I8/17 07/01/14 1.176 IOU% 1999000 10960.0 Bank of NY Mellon IA72.190 Federal Home Wen Mortgage Corporation 1,000,000 LOW/e N/A 011l1/I3 01,11/18 07/11/14 1,291 1.00% l'otfo tto 991430 Bank of NYMellon 984790 Federal Farm Credit Bank 2000,000 112% WA 0220,13 02,20119 )%I114 1331 1.12% 2000,000 1998060 Bank of NYMellon 1974,IaO Federal Home loam Bank 2000,000 2.0]% N/A 04/15/14 04,15119 07/15114 1,750 2,07% 2,000,000 1998,580 Bank of NY Mellon 0 Federal dome Loan Mortgage Corporation 2000oOO 105% WA 01/16,13 01,16/18 OT 16114 1296 1.05% 2,000000 1994.700 Bank of NY Mellon 1991.640 Federal Home Loan Mortgage C.Wmtion 2,000,000 1.15% WA 04/25/13 04/25118 07/25114 1,395 1.15% 2,000.000 1991940 Bank Of NY Mel Ion 19634RO Federal National Mme,.,Assoaadoo 4000,000 lot% N/A 01/30/13 OIpO/IB 0760114 1310 103% 4000.000 3.958,640 Bank of NY Mel Ion 3,034.S40 Federal Home Loan Bank 1,000,000 I OW/e WA 01/30/I3 01,30119 97,30114 1,316 1 00% 1 000,000 990,170 Bank of NY Mellon 9023 W Federal dome Loan Bonk 2000000 19S% WA 01/30/14 01/30/19 07,30114 1675 131% 2,000.000 1999,180 Bank Of NY Mellon I )Be Ow Federal Home Loan Bank 2000,000 2,1 W/< N/A 04/3 O/14 04,,30119 07/301I4 1,765 210% 2,000.000 2,001000 Bank of NY Mel ton II Federal Home Loan Bank 1000,000 105% N/A 02/1V13 02/12/18 09/12/14 1323 105% 1000000 990.920 Bank cf NY Mellon 981.100 Federal National Morgage Assoeimon 2000,000 1.03% WA 05121/13 05/21118 OB/21114 1421 03°. 2,000.000 1,966,360 Bank of NY Mellon 1965660 Federal National Mortgage Association I OHO.000 I OW/ WA 09/29/12 09,28/17 0928114 1.155 1 00% 998.000 996,094 Bank of NY Mellon 000.781 Federal National Mortgage Association 2000,000 I W/< N/A O8l280, 08/2S!17 08/28/14 1,155 1.10% 2,000,000 2,001 960 Bank of NY Mellon 1 991 nRO Federal Home Loan Bank 1000,000 08W/e WA 06/1113 06/1'JI8 09,,12114 1443 a80% 1000,000 992960 Bank of NY Mel ton 9854" Federal Home loan Mortgage Carpontiuo 2,000,000 L W. WA 0920112 09,20117 09,20114 1,108 1.00% 2,000.000 1 996,901) Bank of NY Mellon 1991925 Federal Home Wan Mortgage Corporation 2000,000 12^ WA 03/2NI3 03,20/18 09M0/14 1359 120% 2.000000 1997400 Bank of NY Mel Ion 1071.860 Federal Home Loan Bank 200i1,000 IOW/< NA 06120,13 06,20118 09/20114 1451 100% 1'W8,000 1991340 Bamkof NY Mellon 196R.121 Fed"Home Wan Mortgage CoWnetion 2000,000 104% WA 09/27,12 09,27/17 09/2T14 1.135 104% 2,000000 1,990.200 Bank of NY Mellon 1-SO Ao Federal National Mortgage Association 2000,000 LOT/° N/A 09127,12 09/27117 09,27114 1,135 1.0%% 2000,000 2002,940 Bank of NY Mellon 198:700 Federal Home Wan Bank 1000,000 07S% N/A 05/29,11 05/29/18 11,09/14 1429 075% I,000000 993,920 Bank of NY Mellon 986875 Federal National Mortgage Association 2,000,000 20W16 WA 04130114 04,30119 04,30111 17e5 2.00% 2,000000 2008.590 Bank of NY Mellon 0 48,000,000 43,991(100 41,814,604 le,541,206 Corporate Noms General Electric Capital Corporation 1000000 073 AI/AA- 04/11,12 04,13/15 N/A 289 U73% 1000.(ma 1603510 Bonk of N%Mellon 1002510 10000W 000.000 1UO3,510 1002170 1 srtp OA29/2014 Q .L1 TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS June 30, 2014 Par Coupon Purchase Maturity First/Next Optional Days Yield Adjusted Category (me.only) Prior Qu. Value Ridc Rathng D= Data Call Dae IRM84t[LLy amity Cosa Raab jp[yl Market Value scum, Marke Val re Medium Term Investments (1 Year to i ears) Time Deposits Ally BankCD 2W,000 1.15% N/A 7127/12 7127/IS N/A 392 1.15% 2W,tl(10 200.000 Bank of NY Mellon 2W,M) GE Cap Retail Bank CD 2W." 1.35% N/A 7/20/12 7120/16 WA 751 I.35% 200,000 203,034 Bag:of NY Mellon 202,982 GE Cap Bale CD 2W,OW 135% N/A 7/20/12 7/20/16 N/A 71l 135% 2W," 203.034 Bank of NY Mellon 202,982 600,W0 600,OW W6,W W5.961 Long Term Investment (3 years to 5 years) Time Deposits Goldman Sachs Bank CD 20QOOD 1.W% N/A 7/25/12 71251❑ WA 1.121 I,W% 198,600 204.713 Bank of NY Mellon 2W243 Discover Bank CD 20(h" 1.70% N/A 7126/12 7126/V N/A 1,122 L70% 200,000 204,105 Bank of NY Mellon 203,590 ",000 398,600 408,817 407,835 U.S.Gov't Agency Securities Federal National Monguge Aasacx i®ion 2,000,000 1.10% N/A 03112/13 03/12/18 03112/18 1.351 1.10% 2,0(II1,W0 990.920 Batik of NY Mellon 1.950.SW Fhancing Corporation(FICO) 500,000 9.W% N/A W/06/88 04/06/18 N/A 1,376 9.80% 498,594 654,407 Bank of America 656577 2,5W,f1(10 2,499.594 2.645,327 656,577 Total Invested Cash $ 124.985.129 S 121,587,183 S 121,572,836 $ 97.574.498 Current Quarter Portfolio Yield 0.91% 0.65% Bermhntark Yields: firm,Waver 12 Month LAIF Average 0.25% Portfolio Ylrltl 2 Year Cormam Majority Treasury 0,37% •Imerest Income for the Quarter Ending 06/30/2014 130,6% 'Gross amoum before deduction of investment related fees Ir.sr, 0712912014 Q TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS June 30, 2014 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 121,587,183 $ 121,587,183 $ 121,587,183 Miscellaneous Accounts Petty Cash 4,000 N/A N/A open None 4.000 Trust&Agency-Bank of America 951,487 N/A N/A open None 951,487 Downpayment Assistance(Housing 33,843 0.05% N/A open 0.05% 33,843 Fund)-Bank of America Workers Compensation-Bank of America 41,612 N/A N/A open None 41,612 General Liability-Bank of America 28,491 N/A N/A open None 28,491 1930's General Store Museum-Bank of America 9,013 N/A N/A open None 9,013 On-Line Credit Card Fire Inspection Fees 7,012 N/A N/A open None 7,012 -Bank of America On-Line Credit Card Transportation Permits 1,281 N/A N/A open None 1,281 1,076,739 -Bank of America Total Cash Deposited $ 122,663.923 treasrep 07/29/2014 O Cf TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS June 30, 2014 Par Coupon Yield Adjusted Category (memo only) Prior Qtr Value Rate Ratine Maturity to Maturity Cost Basis Total Market Value Source Market Value 2004/2012 Convention Center Invesco Government&Agency Private 5,939 252 variable AAA open 001% 5,939 252 5,939.251 Bank of NY Mellon 5.937.026 5,939.252 1991/01 Series B-Housing Invesco Government&Agency Private 773.578 variable AAA open 0.02% 773,578 773.578 Bank of NY Mellon 773545 773,579 1994104 Series A&B/2007A,B.&C - Invesco Government&Agency Private 2,999,456 variable AAA open 0.01 1 2.998 456 2.998 456 Bank of NY Mellon 2.998326 2999,4S6 1998 Airport PFC Invesco Government&Agency Private 1,186,547 variable AAA open 0.01% 1,186,547 L186.547 Bank of NY Mellon 1.016,190 1,186 547 2002 Parking Structure Cash 3 3 3 Bank of NY Mellon 3 Invesco Government&Agency Private 1,461 variable AAA open 0,01% 1,461 1,461 Bank of NY Mellon L573 464 2004 Assessment District 161 GE Capital Bank CD 200,000 1.70% N/A O1/17/2019 170% 200,000 200,369 Bank of NY Mellon 199361 Goldman Sachs Bank CD 100,000 1.90% N/A O1/2212019 1 90% I00,000 101481 Bank of NY Mellon 100,660 Invesco Government&Agency Private 94,802 variable AAA open 0.02% 94,802 94,802 Bank of NY Mellon 94,798 394 802 veasrep 07/29/2014 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS June 30, 2014 Par Coupon Yield Adjusted Category (memo 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 0122/2019 1.90% 90,000 91,333 Bank ofNY Mellon 90,594 Invesco Government&Agency Prvate 66,847 variable AAA open 0.02% 66,847 66,847 Bank of NY Mellon 66,844 156,847 2005 Assessment District 164 GB Capital Retail Bank CD 200,000 1,90% N/A 01/17/2019 1 90% 200,000 202,954 Bank of NY Mellon '_01 316 Goldman Sachs Bank CD 50,000 1.90% N/A 01.22/2019 1.90% 50,000 50,740 Bank of NY Mellon 50,330 Invesco Government&Agency Private 116,773 variable AAA open 0.021. 116,773 116,773 Bank of NY Mellon 116.768 366,773 2006 Airport PFC Invesco Government&Agency Private 2,204,228 variable AAA open 0.02% 2,204,228 2,204,228 Bank of NY Mellon 1,640,259 2,204,228 2007 Refunding Lease Revenue Bonds Invesco Government&Agency Private 3 variable AAA open 0.01% 3 3 Bank of NY Mellon 1,28E 075 3 2008 Airport PFC Refunding Invesco Government&Agency Private 647,464 variable AAA open 0.02% 647.464 647,464 Bank of NY Mellon 647,464 64Z464 Reserve for 2012 Downtown Revitalization Lease Revenue Bond Invesco Government&Agency Private 3,199,694 variable AAA open 0.01% 3,189.694 3,189,694 Bank of NY Mellon 3,189,558 3,189,694 Chevrou/CoGen Lease Proceeds Cash 6,721,241 6,721241 6,711,241 Deutsche Bank 9,84&660 6.721 241 Funds With Century Golf 1,102,738 1,102,738 1,102738 Century Golf 131/,025 1,102 738 Totals 25,683,087 25,689,963 S 29,579,375 treasrep 07/29,2014 00 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS June 30, 2014 By Maturity: Minimum Maximum Current Mo. 1 day to 365 days N/A N/A 97.12% 1 year to 3 years N/A 50.00% 0.49% 3 years to 5 years N/A 30.00% 2.38% 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% 0.82% 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% 0.82% Corporate Notes -by issuer N/A 5.00% 0.82% 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% 16.65% Money Market Mutual Funds -More than 1 Year N/A 25.00% 15.92% LAW N/A 100.00% 60.03% U.S. Government Agencies N/A 60.00% 38.24% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% treasrep 07/29/14 J r�