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Home My WebLink About5/7/2014 - STAFF REPORTS - 2.F. QALM g phi U c V N q e °"�oa.to c �P y City Council Staff Report DATE: May 7, 2014 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF MARCH 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 March 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 $104,848,036 plus $29,576,116 in bond issue capital projects, reserve and debt service funds. The market value of the invested cash is $104,526,418. RECOMMENDATION: Receive and File Treasurer's Investment Report as of March 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. REM NO. �� City Council Staff Report May 7, 2014 — Page 2 Treasurer's Investment Report as of March 31, 2014 The weighted average maturity (WAM) of the portfolio is 26.31 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 GeoffrefT. Kie I, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS March 31, 2014 On Call Deposits Adjusted Basis Cateeory Total Percentaee Checking Account $ 12,298,960 CalTrust ShortTerm 22,224,483 CalTrust MidTerm 23,821,347 State Pool 15,051 $ 58,359,842 55.66% Short Term Investments (I year or less) U.S.Gov't Agencies 43,991,000 43,991,000 41.96% Medium Term Investments (1 ear to 3 ears) _ Corporate Notes 1,000,000 Time Deposits 600,000 1,600,000 1.53% Long Term Investments (3 Xear to 5 ears) Time Deposits 398,600 U.S.Gov't Agencies 498,594 897,194 0.86% $ 104,848,036 100.00% treasrep 04/17/2014 O w TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS March 31,2014 Par Coupon Maturity or Yield Adjusted Category (memo only) Prior Qtr. Value Rate Ratme Call Date to Maturity Cost Basis IQjAl Market Value Source Market Value On Call Deposits Checking-Bank of America S NIA N/A AAA open None 12,298.960 S 12,298,960 Bank of America 6409.393 CalTrust Shirfrenn' N/A N/A open 050% 22,224483 22.224,483 CalTrum 10.220.875 CalTrust MidTerm N/A N/A open 0.6nu 23,921,347 23 821347 C'alTmst 28J95300 Local Agenry Invest Fund(LA(F) 15,051 variable NIA open 0236% 15,051 15,056 LAW 15.046 58.35%842 Short Tenm 11:7mrents (1 xar or less) U.S.Gov't Agency Securities Federal Farm Credit Bank 1,000,000 0,85% N/A 11/15/12 0,85% 999000 994,070 Bank of NY Mellon 995,313 Federal Home Loan Bank 2,000,000 1 009. N/A 12/18/12 LOT. 1999,0N 1972,580 Bard ofNY Mellon 1,969,240 Federal Farm Credit Bank 2,NO,W0 1,12% N/A 0520/13 1.12% 2,000,OW 1974,140 Bank ofNY Mellon I961?20 Federal Home loan Mortgage Corporation I,W0000 100°. NIA 07/11//13 100% 1.000000 984,790 Bank of NY Mellon 978.610 Federal Home Loan Mortgage Corporation 2,000,N0 1,05% N/A 07/16/13 1.05% 2,000,900 1,971,640 Bank oPNY Mellon 1,959,460 Federal Home Loan Bank LN0,000 1.00% N/A 07,30/13 1 ov. 1 000,000 982,330 Bank of N'Y Mellon 978,180 Federal Home Loan Bank LNQ,WO 045% N/A O8,091,13 0,45% 1000000 996,169 Bank of NY Mellon 996,480 Federal He.Loan Bank L000,000 1 05% NIA 081121I3 105% 1.00QOW 983,100 Bank of NY Mellon 979080 Federal Farm Credit Bank 2,000,000 0,98% N/A 08/15/13 0,98% 1997,000 1,984,820 Bank ofNY Mellon 1995920 Federal National Mortgage Association 1000,000 1.00% N/A 0828/13 Loft. 998,000 990.781 Bank ofNY Mellon 988,240 Federal National Mortgage Association 2,W0,NO 1.10% N/A 0828//13 1.10% 2,000,000 1993680 Bank of NY Mellon 1987,460 Federal Home Loan Mortgage Corporatist 2,WO,N0 100°14 N/A 0920/13 1.OW/a 2,000,000 1981875 Bank of NY Mellon 1973000 Federal Home loan Bank 2,000,000 1.00% N/A 09,20113 1 ov. 1 998,000 1,968,125 Bank of N\ Mellon 1 954940 Federal home Loan Mortgage Corporation 2,000,000 1,04% NIA 0927,13 104% 2,0WOOK) 4980,640 Bank ofNY Mellon 1972,640 Federal National Mortgage Association 2,NO,WO 107% N/A 09,27/13 1.or. 2,000,000 1,982,7W Bank of N'Y Mellon 1976,460 Federal Home Loan Bank LNO,NO 075% N/A 1129113 075% 1,000,000 986,875 Bank of NY Mellon 990,670 Federal National Mortgage Association 4,NO,W0 1,03% N/A 0110i14 1,03% 4,000,000 3,934,840 Bank of N) Mellon 3912,120 Federal National Mortgage Association 1000,000 2.W1. NIA 01/30/14 2.00% 0 0 Bank of NY Mellon LOOL550 Federal Hone Loan Mortgage Corporation 2,000,000 1125% N/A 02/24,14 1.125% 0 0 Band of NY Mellon 1998,040 Federal National Mortgage Association 1,000,000 20W1. N/A 02/28,/14 200% 0 0 Bank ofNY Mellon 996460 Federal National Mortgage Association 2,N0,000 1,10°. N/A O172114 1.1098 2,000,000 1,950,860 Bank of Nl'Mellon 1938,460 Federal National Mortgage Association 1000,000 2,05% N/A 03/12/14 205% 0 0 Bank ofNY Mellon 1000.625 Federal National Mortgage Association 1000,000 2,00% N/A 03/13/14 2W. 0 0 Bank of NY Mellon 1000,110 Federal Home Loan Mortgage Corporation 2,000,000 1.20% N/A 0320,/14 LIM'. 2,000,000 1973860 Bank of NY Mellon 1952,380 Federal Home Loan Mortgage Corporatist 2,000,000 1.15% N/A 04/25.!14 1.15% 2.000,000 1963,490 Bank of N) Mellon 1951490 Federal How Loan Bank 2,D00.000 2.05% N/A 05/]3/14 2,05% 2mo'oo0 2004260 Bahr of NY Mellon D Federal Home Loan Bank 2.WO.W0 200% NIA 05714114 2.Orot, 2.000,000 2,000,"0 Bank ofNY Mellon 0 Federal Notional Mortgage Association 2,WO,000 1,03% N/A 0521i 14 1,03% 2,000,000 1965,660 Bank of NY Mellon 1938,560 Federal[low lean Bank 1,000,000 0.80°r: N/A 06/12'14 080°. 1.000,000 985460 Bank of Nl'Mellon 978,710 Federal Home Loan Bank 2,W0,000 1.85% NIA 07/30/14 1.85% 2,000,000 1,986,060 Bank of NY Mellon 0 43,991,000 crease' 04/17/2014 6 rP. TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS March 31, 2014 Par Coupon Maturity or Yield Adjusted Category (memo only) Prior Vtr, Value Rate Ratine Call Date to Maturity Cost Basis Total Market Value Source Market Value Corporate Notes General Electric Capital Corporation 1,000000 0.60% AI/AA+ 04,1/13/15 1.20% L000,000 1,002,570 Bank ofNY Mellon 1,000010 1,000,000 Time Deposits Ally Bank CD 200,000 L 15% N/A 727/15 1.15% 200,000 200000 Bank ofNY Mellon 200,000 GE Cap Retail Bank CD 200,000 1.35% N/A 7/20/16 1.35% 200,000 202 982 Bank ofNY Mellon 203,532 GE Cap Bank CD 200,000 1.35% N/A 7/20/16 1.35% 200,000 202,982 Bank ofNY Mellon 203,532 600,000 Long Term Investment (3 yeas to 5 years) Time Deposits Goldman Sachs Bank CD 200,00D 1.80% N/A 7/25/17 1.80% 198.600 204245 Bankof NYMellon 205,409 Discover Bank CD 200,000 1.70% WA 7/26/17 1.70% 200,000 203,590 BrinkofNYMellon 204.735 398,600 U.S.Gov't Agency Securities Financing Corporation(FICO) 500,000 9.80% N/A 04/06/18 9.80% 498.594 656,577 Bankof America 662,526 498,594 104,848.036 $ 104,526,418 $ 90.826 465 Total Invested Cash -Includes the following deposits of non-City funds: Principal Interest Total Palm Springs Historical Society 250,000 1,517 251,517 ueasrep 04/17n014 O CA TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS March 31, 2014 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 104,848,036 $ 104,848,036 $ 104,848,036 Miscellaneous Accounts Petty Cash 4,000 N/A N/A open None 4,000 Trust&Agency-Bank of America 922,068 N/A N/A open None 922,068 Downpayment Assistance(Housing Fund)-Bank of America 33,832 0.05% N/A open 0.05% 33,832 Workers Compensation-Bank of America 25,215 N/A N/A open None 25,215 General Liability-Bank of America 30,000 N/A N/A open None 30,000 1930's General Store Museum-Bank of America 7,300 N/A N/A open None 7,300 On-Line Credit Card Fire Inspection Fees 25,266 N/A N/A open None 25,266 -Bank of America On-Line Credit Card Transportation Permits 2,928 N/A N/A open None 2,928 1,050,610 -Bank of America Total Cash Deposited S 105.898,646 treasrep 04/17/2014 O O� TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS March 31, 2014 Par Coupon Yield Adjusted Category (memo onlv) Prior Gtr. Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value 2004/2012 Convention Center Invesco Government&Agency Private 5,937,027 variable AAA open 0.0196 5,937,027 5937,026 Rank of NY Mellon 5,93h 630 5,937,027 1991/01 Series B-Housing Invesco Government&Agency Private 773,545 variable AAA open 0.02% 773,545 773,545 Rank of NY Mellon 478,152 773,545 1994/04 Series A&B/2007A,B,&C Invesco Government&Agency Private 2,998.326 variable AAA open 0.01% 2,998326 2,998.326 Bank of NY Mellon 1697 266 2,998,326 1999 Airport PFC Invesco Government&Agency Private 1,016,190 variable AAA open 0.01% 1,016,190 1,016,190 Bank of NY Mellon 2,833.328 1,016,190 2002 Parking Structure Cash 3 3 3 Bank of NY Mellon 3 Invesco Government&Agency Private 1,573 variable AAA open 0,01% 1573 1,573 Bank of NY Mellon 1967 1,576 2004 Assessment District 161 GE Capital Bank CD 200,000 1.70% N/A 01/17/2019 1.70% 200000 199,361 Bank of NY Mellon Goldman Sachs Bank CD 100,000 1.90% N/A 01,122/2019 1.90% 100,000 100,660 Bank of NY Mellon Invesco Government&Agency Private 94,798 variable AAA open 0,02% 94.799 94,798 Bank of NY Mellon 394,777 394,798 ireauep 04/17/2014 O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS March 31, 2014 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Ratio e 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 01/22'2019 1.90% 90,000 90,594 Bank of NY Mellon Invesco Government&Agency Private 66,844 variable AM open 0.02% 66,844 66,844 Bank of NY Mellon 156,836 156.844 2005 Assessment District 164 GE Capital Retail Bank CD 200,000 1.90% N/A O1/17/2019 L90% 200,000 201,316 Bank of NY Mellon Goldman Sachs Bank CD 50,000 1,90% N/A 01122/2019 1.90% 50,000 50,330 Bank of NY Mellon Invesco Government&Agency Private 116,768 variable AAA open 0.02% 116,768 116,768 Bank of NY Mellon 366,748 366.768 2006 Airport PFC Invesco Govemment&Agency Private 1,640,259 variable AAA open 0.02% 1,640,259 L640,259 Bank of NY Mellon 1693 273 1,640,259 2007 Refunding Lease Revenue Bonds Invesco Government&Agency Private 1,286.075 variable AAA open 0.01% 1.286,075 1.286,075 Bank of NY Mellon 1 1,286,075 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 3,189558 variable AAA open 001% 3,189,558 3,189,558 Bank of NY Mellon 3,189,344 3,189,558 ChevroNCoGen Lease Proceeds Cash 9,848,660 9,848,660 9,848,660 Deutsche Bank 13,416,443 9,848,660 Funds With Century Golf 1319,025 1319025 1319,025 CemuryGolf 370.495 1,319,025 Totals 29,576,116 29,578375 S 31,182,729 treasrep 04/17/2014 C, Q0 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS March 31, 2014 Allowable Percentages By Maturity: Minimum Maximum Current Mo. 1 day to 365 days $8,000,000 N/A $102,350,842 1 year to 3 years 0.00% 50.00% 1.53% 3 years to 5 years 0.00% 30.00% 0.86% over 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% 0.95% Corporate Notes N/A 20.00% 0.95% 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% 42.43% U.S. Treasury Notes/Bonds N/A N/A 0.00% treasrep 04/17/14