The URL can be used to link to this page

Home My WebLink About7/2/2014 - STAFF REPORTS - 2.Q. �OQ Y A L M S'09 iy U O V N •r ��boxe Cg41F0RN�P• City Council Staff Report DATE: July 2, 2014 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF MAY 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 May 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 $116,077,103 plus $28,775,007 bond issue capital projects, reserve and debt service funds. The market value of the invested cash is $116,096,017. RECOMMENDATION: Receive and File Treasurer's Investment Report as of May 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 July 2, 2014 — Page 2 Treasurer's Investment Report as of May 31, 2014 The weighted average maturity (WAM) of the portfolio is 25.74 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. Kiehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS May 31, 2014 On Call Deposits Adlusted Basis Category Total Percentage Checking Account $ 3,992,764 CalTrust ShortTerm 20,239,807 CalTrust MidTerm 19,341,279 State Pool 24,015,060 $ 67,588,909 58.23% Short Term Investments (I year or less) U.S.Gov't Agencies 45,991,000 Corporate Notes 1,000,000 46,991,000 40.48% Medium Term Investments (1 year to 3 ears) Time Deposits 600,000 600,000 0.52% Long Term Investments (3 ear to 5 ears) Time Deposits 398,600 U.S. Gov't Agencies 498,594 897,194 0.77% $ 116,077,103 100.00% treasrep 06/25/2014 O W TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS May 31,2014 Par Coupon Punches. Maturity or Yield Adjusted Cme" can only) Prior Qtr. Ve1ue Rate Retina Peg Call Date IQ Masurnv C,naB." Lag Markel V.I. panice Markel Value On Call Deposits Checking-Bank of America 5 N/A N/A AAA open None 3,99:764 S 3-092]64 Bank of Amermz 12'_93960 CelTmat Sh,mTmrn N/A N/A open 036% 20,239807 20,239,807 CalTrua 22,221p81 CalTrust Miami N/A N/A Open 0.69a 19341279 19,341239 CatIrow 23,821341 Local Agency Inca Fund(LAIF) 24,015 060 .ariablc N/A open 0 228% 24015.060 24,022,675 LAIF 15056 6],588,W9 Short Term Investments (I year or less) II.S.Gov't Agency Saeurilies Federal Farm Credit Bank 1000,W0 085% N/A 08/15/12 11/15/12 085°10 999.1100 998,920 Bwkof NN Mellon 994,070 Federal Home Loan Bank 2,00gOW I.OWo N/A 09/18/12 1211WI2 100N 1999,000 1999,140 Bank Of NY Mellon I9T_580 Federal Fams Credit Bank 2,OOQWO I 12% N/A 02,10/13 0520113 LL% 2.000,000 1997.860 Bankof NYMellon 1974,140 Federal Home Loan Mortgage Corporation Um"N") I.00a N/A 01111113 07/11/13 100°-0 10W,W0 990.090 Bank Of NY Mellon 983,7% Federal Home Loan Mortgage Corporation 2,000,W0 1.05% N/A 01/16/13 07,'16/13 105% 2,O1KQWD 1982.220 Bank of NY Mellon 197Ib40 Federal Home Loon Bank 10W,W0 1.00% N/A 01/30/13 07130/13 100N I,0W,000 992.D60 Bank of NY Mellon 981,310 Federal Home Lma,Bank 100Q000 045% N/A OS/W/13 O8/09/13 045% 101YOn 991240 Bank of NY Mellon 996,160 Federal time Loan Bank 10W,W0 1.05% N/A 02/12/13 08112/13 105% 1000No 992.83D Bank of NY Mellon 983300 Federal Pam Credit Bank 2,OOO,W0 098% N/A 08/15/12 08/15/13 098% 1997,000 1996,250 Bank of NY Mellon 1984,820 Federat National Mortgage Association 1,00000 1 OWe NIA O8/28112 08/^_8113 1 00% 998,000 995,930 Bank of NY Mellon 9W.781 Federal National Mortgage Aswcialon 2,OW,WO I10°o N/A 0828112 08/28/13 1.10% 2,000,WO 2,001900 Bank of NY Mellon 19n3,680 Federal Home Loan Mortgage Corporation 3 D00,000 1 00°o N/A 09/20/12 09/20/13 1 00% 2,000,000 199)880 Bank of NY Mellon 1981 895 Federal Home Loan Bank 2,OW,W0 100% N/A 1)620/13 OW20/13 1.00% 1998,000 1987340 Bank of NY Mellon I968,125 Federal Home Loan Mortgage Corporation ZOOQW0 104% N/A 0127/12 0927/13 1.04% 2,000,000 198I,WO Bankof N'1 Mellon 198g640 Federal National Mortgage A.,muon 2,OW,W0 107% N/A 09R9112 09/27/13 107% 2,000,000 199292D Bank of N'Y Mellon 1982.700 Federal Home Loan Bank 100Q000 095% N/A 05/29/13 11/29/13 0 75% 1000,000 995,810 Bank of NY Mellon 986,895 Federal National Mortgage Asanciatom 4,000.000 103% NIA OU10/13 01/30/14 103% 4,000,000 3958.560 Bank f.NY Mellon 3,934,940 Federal National Mortgage Association 2,OO ,WO I IWn N/A 03/12/13 03/12/14 110% 2-000,00 1991,220 Bank of NY Mel ton 1950,860 Federal Home Loan Morgage Coporation 2,OW,000 1201. NIA 03/20/13 W120'14 120" 2,000,000 1995,118 Bank of NY Mellon 1923.860 Federal Home U.,Mortgage Corporation 2,0W,W0 115% N/A 04/25n13 0412514 115% 200g000 1978,480 Bank of NY Mellon 1963680 Federal Home Loan Bank 2,OOgWO 2 05% N/A 02/13/14 05/14/14 2 05% 0 0 Bank of NY Mellon 2 004.260 Federal Home Lann Bank 2,OW,WO 2.00% NIA Qi14114 05/14/14 200% 0 0 Bank of NYMellon 2000640 Federal National MonsMe Association 2,OOQ00O 103% N/A 05/21/13 0521/14 103% 2,000,W0 I977,780 Bank of NY Mellon 1965660 Federal Home Loan Bank 1,000,Wo 0.SIMI. NIA 06,12/13 06/12/14 080% 100000 994,901) Bank of SY Mellon 985,460 Federal Home Loan Bank 2,OW,W0 207% N/A 0gV14 07/15/14 209% 2,000,WO 2,002,813 Bank of NY Mellon 0 Federal Home Loan Bank 2-000,W0 185% N/A 01/30/14 07/3W14 1.85% 2,000,000 2005,040 Bank of NY Mellon 1986,060 Federal Home Loan Bank 2,OO ,WO 210% NIA 0410n4 O7/30/14 210% 2,0W,W0 2,006,420 Bank 9fNY Mellon 0 Federal National Mortgage AMMMLOn 2000,W0 2.009'o N/A 04,30114 04/30/15 20D%o 2,OW,W0 2,011380 Bank of NY Mellon 0 45 991000 Carpomte Notes General Elecvic Capital Comoratlon IOW,Wo 0.60% AIiAA+ 04/13/12 04/13/15 1.20% 1000,W0 1002,200 Bank of NY Mellon 1W2570 1,000,000 neurep 06/25/2014 O A TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS May 31, 2014 par Coupon Purchase Matunq or Yield Adjusted Category (memo onlyI Prior Qn. Value Rate all= Date Call Date to Mahar Cost Basis Total Market Value Source Market Yalue, Medium Term Investments (1 ear to 3 s) Time Deposits Ally Bank CD 200.000 1.15% N/A 7/27/12 727/15 1.15% 200,000 200,000 Bank of Nl Mellon 200,000 GE Cap Retail Bank CD 200,000 135% N/A 7120112 720/16 1.35% 21R1,000 203.354 Bank of NY Mellon 201982 GE Cap Bank CD 200,000 1.35% N/A 7/20/12 7/20116 1.35% 200,000 203,354 Bank of NY Mellon 202,992 600,000 Long Term Investment (3 years to 5 years) Time Deposits Goldman Sachs Bank CD 200,000 1.80% N/A 7/2912 725A7 1.80% 198,600 205,255 Bank of NY Mellon 204.241 Discaver Bank CD 200,000 1.70% N/A 7/26/12 726/17 1 70% 200,000 204,630 Bank of NY Mellon 203.590 398,600 U.S.Gov't Agency Securities Financing Corpora6on(F1CO) 500,000 9,80% N/A 4i6/88 04/06i18 980% 498,594 657,180 Bank of America 656,577 498.594 Total Invested Cash S 116,077.103 S 116,096,017 S 104,526,418 treasrep W2512014 0 Un TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS May 31, 2014 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 116,077,103 $ 116,077,103 $ 116,077,103 Miscellaneous Accounts Petty Cash 4,000 N/A N/A open None 4,000 Trust&Agency-Bank of America 933,488 N/A N/A open None 933,488 Downpayment Assistance(Housing Fund)-Bank of America 33,839 0,05% N/A open 0.05% 33,839 Workers Compensation-Bank of America 22,216 N/A N/A open None 22,216 General Liability-Bank of America 30,000 N/A N/A open None 30,000 1930's General Store Museum-Bank of America 9,264 N/A N/A open None 9,264 On-Line Credit Card Fire Inspection Fees 44,977 N/A N/A open None 44,977 -Bank of America On-Line Credit Card Transportation Permits 3,590 N/A N/A open None 3,590 1,081,374 -Bank of America Total Cash Deposited $ 117,158,477 treasrep 06/25/2014 O tri TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS May 31, 2014 Par Coupon Yield Adjusted Category (memo only) Prior Qtr_ Value Rate Rahn Maturity to Maturity Cost Basis Total Market Value Source Market Value 2004/2012 Convention Center Invesco Government&Agency Private 5,937,196 variable AAA open 0.01% 5937,196 5937,195 Bank ofNY Mellon 5937,026 5 937.196 199 1/0 1 Series B-Housing Invesco Government&Agency Private 773,571 variable AAA open 0.02% 773,571 773,571 Bank of NY Mellon 773,545 773,i71 1994/04 Series A&B/2007A,B,&C Invesco Government&Agency Private 2,998A28 variable AAA open 0.01% 2,999,428 2.998.428 Bank of NY Mellon 2,998,326 2,998,428 1998 Airport PFC Invesco Government&Agency Private 1,129,766 variable AAA open 0.01% 1,129,766 1,129.766 Bank of NY Mellon 1,016,190 1,129 766 2002 Parking Structure Cash 3 3 3 Bank of NY Mellon 3 Invesco Government&Agency Private 1708 variable AAA open 0.01% 1708 1,708 Bank ofNY Mellon 1573 712 2004 Assessment District 161 GE Capital Bank CD 200,000 1.70% N/A 0111L2019 1.70% 200,000 200.036 Bank of NY Mellon 199,361 Goldman Sachs Bank CD 100,000 1.90% N/A 01 t22/2019 1.90% 100,000 101,809 Bank of NY Mellon 100,660 Invesco Government&Agency Private 94,801 variable AAA open 0.02% 94,801 94,801 Bank of NY Mellon 94,798 394,801 treasrcp 06/25/2014 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS May 31, 2014 Par Coupon Yield Adjusted Category (memo only) Prior Qtr, Value Rate Ratm2 Maturity to Malurm; Cos[Basis Total Market Value Source Market Value 2004 Assessment District 162 Goldman Sachs Bank CD 90,000 1.90% N/A 01/22/2019 1.90% 90 000 91629 Bank of NY Mellon 90,594 Invesco Government&Agency Private 66,846 variable AAA open 0,02% 66,846 66,946 Bank of NY Mellon 66,844 156,846 2005 Assessment District 164 GE Capital Retail Bank CD 200,000 1,90% N/A 01/172019 1.90% 200,000 203,608 Bank of NY Mellon 201316 Goldman Sachs Bank CD 50,000 1.90% N/A Ot/22/2019 1.90% 50,000 50,904 Bank of NY Mellon 50,330 Invesco Government&Agency Private 116,772 variable AAA open 0.02% 116,772 116,772 Bank of NY Mellon 116.768 366,772 2006 Airport PFC Invesco Government&Agency Private 2,086,629 variable AAA open 0.02% 2,086,628 2,086,628 Bank of NY Mellon I.640,259 2,086,628 2007 Refunding Lease Revenue Bonds Invesco Government&Agency Private 3 variable AAA open 0,01% 3 3 Bank of NY Mellon 1,286,075 3 2008 Airport PFC Refunding Invesco Government&Agency Private 647,464 variable AAA open 0.02% 647,464 647464 Bank of NY Mellon 647,464 647,464 Reserve for 2012 Downtown Revitalization Lease Revenue Bond Invesco Government&Agency Private 5,404,319 variable AAA open 0.01% 5,404,319 5,404,319 Bank of NY Mellon 3,189 558 5,404,319 Chevron/CoGen Lease Proceeds Cash 7,338,361 7,338,361 7,339,361 Deutsche Bank 9,848,660 7,338,361 Funds With Century Golf 1,539,142 1,539342 1,539,142 Century Golf 1319.025 May data unavailable-April Data used as an approximation 1,539,142 Totals 29,775,007 28782991 S 29,578,375 beauep 06/25/2014 00 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS May 31, 2014 By Maturity: Minimum Maximum Current Mo. 1 day to 365 days N/A N/A 98.71% 1 year to 3 years N/A 50.00% 0.52% 3 years to 5 years N/A 30.00% 0.77% 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% 0.86% Corporate Notes-by issuer N/A 5.00% 0.86% 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% 17.44% Money Market Mutual Funds -More than 1 Year N/A 25.00% 16.66% LAIF N/A 100.00% 48.03% U.S. Government Agencies N/A 60.00% 40.05% U.S. Treasury Notes/Bonds N/A 100.00% 0.00% tremrep 06/25/14 O CD Calcubnoo of Waghtcd Avg Mauro, 'U." Curtnl No of Dap X CoSt Dam Darc Dap 41,990 41,791 41,790 1 1,992,764 41,791 41.790 1 2L239.8117 41]91 41,710 1 14141,279 41,791 41,790 1 24.015,%0 41.791 41,]90 1 999.gx1 41,791 41790 1 I.wg m 41,791 41.790 1 2.WU.q 41,991 41,290 I I,WO,INX1 41,791 41,790 1 2.WU,IIW 41,791 41,790 1 I,NU.WO 41,791 41,290 1 I,WLLWII 41,791 41,790 1 1,C00.000 41.791 41,790 1 1992,W0 41,791 41.7H 1 998.000 41]91 41,290 1 2,WU,g111 41.991 41.M 1 2,W.000 41,791 4I.M 1 1,998,Wo 41 Y91 41.790 1 2.000,VIU 41791 41 NO 1 20MO,W0 41.791 41.' O 1 1,000,000 41791 41 NO I 4,WO,WO 41,791 4I'M 1 2,WU,(Mo 41,791 4I.M 1 2.WO,000 41,291 41,N0 1 2,0WJ100 41,772 41,t U -I8 0 41,771 41,990 -o n 41.791 41,79U I 21M,W0 41.8O2 41,990 12 12.",00C, 41.915 41,791) 45 911,IXxl,cm 41.950 41,990 60 120.",OW 41,950 4,790 60 1211,M),M) 42.124 411?90 314 668,WO,IM 42,107 41,790 112 117,C1111.Ml 42,212 41,790 422 84,400,gM 42,591 41,"0 M 156.200.WO 42,571 41NO 281 156,2W.W0 42."1 41.790 L151 228,588,6W 42,942 41,790 1,152 210,M111,0W 0.196 41,990 IAM 701.021,164 2988.191,611 Tom11m¢m¢N5 at Cwl I16,077,103 WAM in Dap 2574 1 O