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Home My WebLink About6/4/2014 - STAFF REPORTS - 2.N. A. .y G1 V N t P �IPO4P[0 •, l`q<IFOR0 City Council Staff Report DATE: June 4, 2014 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF APRIL 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 April 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 $108,857,255 plus $29,011 ,044 in bond issue capital projects, reserve and debt service funds. The market value of the invested cash is $108,719,117. RECOMMENDATION: Receive and File Treasurer's Investment Report as of April 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 N0, aA/ City Council Staff Report June 4, 2014 — Page 2 Treasurer's Investment Report as of April 30, 2014 The weighted average maturity (WAM) of the portfolio is 31.45 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 K ehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS April 30, 2014 On Call Deposits Adjusted Basis Cateeory Total Percentaee Checking Account $ 4.793.837 CalTrust ShoriTerm 20,232.860 CalTrust MidTerm 19,327,305 State Pool 8.015,060 $ 52,369,061 48.11% Short Term Investments (1 year or less) U.S.Gov't Agencies 49,991,000 Cash 4,000,000 Corporate Notes 1,000,000 54,991.000 50.52% Medium Term Investments 1 ear tc 3 'ears) Time Deposits 600,000 600,000 0.55% Long Term Investments (3 year to 5 years) Time Deposits 398,600 U.S.Gov't Agencies 498.594 997.194 0.82% $ 109,857.255 100,00% treasrep 05/27/2014 03 TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS April 30. 2014 Par Co.,. Malurm of Y.<Id Adlueled Calegon_ (memo onld Pool Qn yaw, Rall RaW, Call Date t ns fau.ml 4a,,5asu sat Market Vmue to...k Make Vain IN Call Ca ails Checking-Bank of Ammea S N/A N/A AAA oL'n None 4,791 M,7 ; 4.113,1137 Book ofNnenea 12.2919,%(l Coffman ShonTemn• N/A N/A e,n 240% 20232.8611 20133.861) CalTrusl 22,224483 CalTmn Mare- N/A N/A open I72% 19327,305 19.311".5 Caroni, 23,821347 Laal.4gcnn ImcA Fond ILAIF) 8013,060 .ad.Ne N/A an 1)233% 8015060 9,II17.6n1 LAIF Is05(, 52,361DoI then tetra Lnatt—ma I I.car or lean) U.S.Go,'I A,ene,tcwnnu Ventral From Credit Beek Ip110IXID 11SS% N/A 11/15/12 1)85% 994000 995.N50 Bank of NY Mellon 994U70 Fedcy Home L9an Book 2000000 100%. N/A 12,18/12 100% 19990110 19N0,420 Bank of NY Mellon Iy2Z5811 Federal From Crcdil Book 2,000000 117% N/A 03120/13 112% 2.0000011 LIND,nnO BookofNY Mellon 1,974140 Federal Home loan Mortgage Coryorallon 1000000 100% N/A U7/11/13 1011"G 10000011 9".820 Book of INY Mellon 984790 Fedral Home loan Mortgage Coryoranon 2000,000 105%a N/A 117116113 I OF'G 2 ,,)(1 00 1997 621. Book cfNY Mullen 1171 No Federal Ilome lAM Bank 011(1'Doo 1,110% NA 117/.111,I3 11111% 111UnDID, IN?11111. Bank of NY Minton IQ Clio Federal Hme loon Bank Ipn),00. U.45%, NIA 11ll,"'P13 045'✓ 100g11W 9eY320 Bank A NY Mellon 91-6.16ll Foderal Home loon Bonk IA01k000 105%. NA IUll,"13 1111% 1.00WN0 98200 Badof NY Mellon ok't'ln FCGmI Farm Credit Bank 2000.000 1148% N/A 118,11,13 098% 1.992000 19811,890 Bunk ofNY Mellon 1,184.12u Fodmil Nmional Mortgage Aasomalion 1,000000 1,00% N/A 111,21%13 100%. 998.000 993620 Bank of NY Mellon 111C]81 Federal National Mongagc Assomntion 20011000 110%a MA 118,21%13 I lo% 2.0p0fmU 2000600 Bank of NV Mellon Iy93fi80 Foleral Homo Loan Mongagc Cngnranon 2000.060 1,00%n N/A 19/20,13 Ioil% 2,004n00 1492.2211 Bank of NY Mcllan I!181975 Federal Hone Loan Bank 2.000.000 100% MA 09/20113 I00% 1919.000 1922,500 Book orNY Mellon LeW125 Federal Holne Loan Mool Coryorznan 2.000.000 104% N/A 09/27/13 1(14'% 2000000 15850411 Book of NY Mcl lon Llall.640 FcMnl Nnrlonal Meal Arm...Don Z.000.II00 107% N/A 09127IB 107% 2(100,IIU11 19AA7211 Bank of NY Mel ton 1982,]00 Federal Home loan Bank IMUMU USS% N,A 11,29/13 095% 1.000,000 v91.050 Bankof Nl'Mellon 986,e75 F'edem!Nmionnl M.nl ,s,wetfimi 4.000,000 I,03% N/A 01/3W14 103% 4,000,I00 3.051,080 Book of NY Mellon 3,934,940 Federal National Mongagc Anoclallen 2,000,0011 LIU% N/A UV1204 1111% 2000(IUD 198M260 Bank of NY Mellon 19511860 Federal Homc I.am1 Mongagc Correlation 2001 000 1 20% N/A 0312U/14 120% 2,0110II100 199n 28U Bank ofNY Mellon 1 91,3.g60 Federal Homo Loan Mongagc CoMemlire 2000000 1 15% N/A 04/25114 I 15% 2.000,000 1991_20 Book ofN'Y Mellon 1963 480 Federal Homo Los Bank 2M0000 205% N,A 05/13%14 205% 20011,(IUD 1,001250 Bank ofNY Mellon 2,004161) Federal Homo Los Bank 2 DOD 000 2P0% N/A 05114/I4 loft. 200000U 20013411 Bank ofN'Y Mallon 20010640 Federal Nmional M.,,,Assonmion 2t,00000 103% NA 052I94 103% 10111, DID I,924IND Book M NYM,Ilon 19(,t6o0 Federal Home Lem Book IMII)0011 (I 81M. N/A O6(12/N 130'1'. 1000HIN, 1"'101 Bank DIN)'Mellon 9N5,460 Fderal Home Los Bank 2,IXI0,01111 2(17% N/A 09/15/14 202Y 2000000 1,99 11811 Bank of NY Mellon U Fderal Ham,Loan Bank 2,000(1011 181% N,A 091311r14 1851. 20011IND, 1,1152211 Bank of NY Mel ton I Ion 060 F,Ccral Home Los Bank 2,000,000 2.10% N/A 0913iel4 1.119 20000oU 1,9N9000 BankofN)'Mcllan u Fdcral National Mongagc eo.crarmi 2,0o0000 200% N/A 041�0/IS 200% 2000000 2.0113111 Bank of NY Mellon 0 41,091,W) aria Bank oFNY Mallon NA 4000001) 4no00110 Bank a]NY McIIm 0 Um0(ua1 Coryomm Note, General Elwo,Capiml Cogomtion 1,000,0011 Ua"% AI/Me 114/13/15 120%. 1001111110 11103440 Balk of NY Mellon 11102.})0 I Oo0,W0 nrary os'22rzm4 04 TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS April 30, 2014 Par Coupon Maturity or Yield Adjusted Category (memo only) Prior Qtr. Value Rate Ratio u Call Date to Maturity Cost Basis Total Market Value Source Market Value Medium Term Investments (l year to 3 ves rs) Time Deposits Ally Bank CD 200,000 1.15% N/A 7/27/15 1.15% 200,000 200,000 Bank of NY Mellon 200000 GE Cap Retai l Bank CD 200,000 135% N,/A 7,20/16 1.35% 200,000 203,124 Bank of NY Mellon 202,982 GE Cap Bank CD 200,000 135% N/A 7/20/16 1.35% 200,000 203.124 Bank of NY Mellon 202,982 600,000 Long Term Investment 13 years to 5 years) Time Deposits Goldman Sachs Bank CD 200,000 1.80% N/A 7/25/17 1.80% 198,600 204,539 Bankof NYMellon 204.245 Discover Bank CD 200,000 1.70% N/A 7/26/17 170% 200,000 203,899 Bankof NYMellon 203,590 398 600 U.S.GoO Agency Securities Financing Corporation(FICO) 500,000 9.80% N./A 04/06i18 980% 499,594 655J67 Bank of America 656,577 498 594 S 108,857,255 S 10R 719,117 5 104.526.418 Total Invested Cash 'Includes the following deposits ofnon-City,funds. Principal Interest Total Palm Springs Historical Society 250,000 1,600 251,600 treasrep 05/27,'2014 05 TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS April 30, 2014 Yield Adjusted Par Value Coupon Rgina Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 108,857,255 $ 109,957,255 $ 108,857,255 Miscellaneous Accounts Petty Cash 4,000 N/A N/A open None 4,000 Trust&Agency-Bank of America 921,696 N/A N/A open None 921,696 Downpayment Assistance(Housing Fund)-Bank of America 33,835 0.05% N/A open 0.05% 33,835 Workers Compensation-Bank of America 85,921 N/A N/A open None 85,921 General Liability-Bank of America 28,550 N/A N/A open None 28,550 1930's General Store Museum-Bank of America 6,346 N/A N/A open None 6,346 On-Line Credit Card Fire Inspection Fees 34,841 N/A N/A open None 34,841 -Bank of America On-Line Credit Card Transportation Permits 3,212 N/A N/A open None 3,212 1,118,402 -Bank of America Total Cash Deposited $ 109,975,657 treasrep 05/27/2014 06 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS April 30, 2014 Par Coupon Yield Adjusted Category (memo only) PriorQtr. Value Rate Ratine Maturity to Maturity Cost Bass Total Market Value Source Market Value 2004/2012 Convention Center Invesco Government&Agency Private 7,758,644 variable AAA open 0.0196 7,758,644 7,758,643 Bank of NY Mellon 5,937026 7,758,644 1991/01 Seres B-Housing Invesco Government a Agency Private 773,559 variable AAA open 0.02% 773,558 773,559 Bank of NY Mellon 773.545 773,558 1994/04 Series A&B/2007A,B,&C Invesco Government&Agency Private 2,998 378 variable AAA open 0.01% 2,999,378 2998,379 Bank of NY Mellon 2,998.326 2,998,378 1999 Airport PFC Invesco Government&Agency Private 1,072,978 variable AAA open 0.01% 1 072,978 1,072,978 Bank of NY Mellon 1016.190 072,978 2002 Parking Structure Cash 3 3 3 Bank of NY Mellon 3 l nvesco Government&Agency Private 1,618 variable AAA open 0.01% 1,619 1,619 Bank of NY Mellon 1,573 1,621 2004 Assessment District 161 GE Capital Bank CD 100,000 170% NiA 01,11712019 1.70% 200.000 199,703 Bank of NY Mellon 199.361 Goldman Sachs Bank CD 100,000 1901 N/A 01r22'2019 1.90% 1WOW 100990 Bank of NY Mellon 100,660 Invesco Government&Agency Private 94,799 variable AAA open 0.02% 94,799 94,799 Bank of NY Mellon 94,798 394,799 neasrep 05/27/2014 07 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS April 30, 2014 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Ratnu 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 01/2212019 1.90% 90.000 90,891 Bank of NY Mellon 90,594 Invesco Government&Agency Private 66,845 variable AAA open 0.02% 66,845 66,845 Bank ol'NY Mellon 66,844 156,845 2005 Assessment District 164 GE Capital Retail Bank CD 200,000 190% N/A 01/I7/2019 L90% 200,000 201975 Bank of NY Mellon 201,316 Goldman Sachs Bank CD 50,000 1.90% N/A 01/22/2019 1.90% 50.000 50,495 Bank of;lY Mellon 50,330 Invesco Government&Agency Private 116,770 variable AAA open 0,02% 116,770 116,770 Rank ofNY Mellon 116,768 366,770 2006 Airport PFC Invesco Govemment&Agency Private 1,757,868 variable AAA open 0.02% 1757,R68 1,757,868 Bank of NY Mellon 1.640,259 1,757 868 2007 Refunding Lease Revenue Bonds Invesco Government&Agency Private 3 variable AAA open 0.01 o 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% 647,464 647,464 Bank of NY Mellon 647,464 647,464 Reserve for 2012 Downtown Revitalization Lease Revenue Bond Invesco Government&Agency Private 3,189,612 variable AAA open 0,01% 3,189,612 3,189,612 Bank of NY Mellon 3,189,558 3.189 612 ChevroNCoGen Lease Proceeds Cash 8.353,360 8,353,360 8,353,360 Deutsche Bank 9.848,660 8.353,360 Funds With Century Golf- 1,539,142 1,539.142 1,539,142 Century Golf 1.319.025 -GL Data only-reconciliations not available 1,539,142 Totals 29011,044 29,015,097 S 29,578,175 treasrep 05272014 08 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS April 30, 2014 Allowable Percentages By Maturity: Minimum Maximum Current Mo. 1 day to 365 days $8,000,000 N/A $107,360,061 1 year to 3 years 0.00% 50.00% 0.55% 3 years to 5 years 0.00% 30.00% 0.82% over 5 years N/A N/A 0.00% By Type of Investment: Bankers Acceptance - in total N/A 40.00% 0.00% Bankers Acceptance - single bank N/A 20.00% 0.00% Commercial Paper N/A 15.00% 0.00% Time Deposits N/A 30.00% 0.92% Corporate Notes N/A 20.00% 0.92% Money Market Mutual Funds N/A 10.00% 0.00% Mortgage Pass Thrus N/A 10.00% 0.00% U.S. Government Agencies N/A 60.00% 46.38% U.S. Treasury Notes/Bonds N/A N/A 0.00% treasrep 05/27/14 09