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Home My WebLink About2/5/2014 - STAFF REPORTS - 2.L. ,?ALMS'* iy a N N °roe*to c4<'FORlN*'? City Council Staff Report DATE: February 5, 2014 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF DECEMBER 31, 2013 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 December 31, 2013. 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 $91,408,656 plus $31,182,730 in bond issue capital projects, reserve and debt service funds. The market value of the invested cash is $90,824,457. RECOMMENDATION: Receive and File Treasurer's Investment Report as of December 31, 2013. 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. �L City Council Staff Report February 5, 2014 — Page 2 Treasurer's Investment Report as of December 31, 2013 The weighted average maturity (WAM) of the portfolio is 41.11 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 R, 'a 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 December 31, 2013 On Call Deposits Adjusted Basis Category Total Percentage Checking Account $ 6,409,393 CalTrust ShortTerm 10,208,942 CalTrust MidTcrm 28,287,086 State Pool 15,041 $ 44,920,462 49.14% Short Term Investments (1 ear or less) U.S. Gov't Agencies 43,991,000 43,991,000 48.13% Medium Term Investments (I ear to 3 ears Corporate Notes 1,000,000 Time Deposits 600,000 1,600,000 1.75% Long Term Investments 3 yew to 5 ears Time Deposits 398,600 U.S.Gov't Agencies 498,594 897,194 0.98% $ 91,408,656 100.00% treasrep 01/27/2014 O t,3 TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS December 31, 2013 Par Coupon Maturity or Yield Adjusted Category (meow only) Prior Qtr Value Rate BaP9g Call Date Sit Mariann, Cyst nsB , Total Market Value Source Market Value On Call Depcaits Checking-Bank of America S N/A N/A AAA open N9ne 6,4W,393 $ 6,409,393 Bank of America ?285,359 CalToot ShorfTerm' N/A N/A open 04014. 10.208,942 20,220,875 CelTrost 12,196,319 CalTruat Mid`F m N/A N/A open 070% 28,287,086 28,195,300 CATrsnt 29,14e,042 Local Agency Invest Food(LAM) 15,041 variabic N/A open 02W. 15041 15,046 LAB 15,036 44,920.462 Short Tenn Investment, (I Yesr or less) US.Gov't Agency Securities Federal Farm Credit Bank IOW,Wo 0.85% N/A 11/15/12 0.85% 999,000 995.313 Bank of NY Mellen 993300 Federal Home Loan Bank 2,",M I.W1. N/A 12/I8/12 1W/. 1W9," 1969,240 Bank of NY Mellon 1,970,460 Federal Farm Credit Bonk 2,001).M 1.12% N/A 05/2M3 1.12% 2,000,000 1,961720 Bank of NY Mellon 1,972,500 Federal Home Loan Mortgage Corporation I,000,000 IDWG N/A 07A 1/13 10 . I,0000W 979,610 Bank of NY Mellon 980,890 Federal Home Loan Mortgage Corporation 2,00o,000 1D5% N/A 07/16/I3 1.05% 2,WO," 059460 Bank of NY Mellon 1967,800 Federal Home Loan Beek I,"." 1.0 . N/A 07/30/13 1W% Ip00,000 978,180 Bank ofNYMellon 982,550 Federal Home Loan Bank 100QW0 045% N/A 08/09A3 045% I,W0,000 996,480 Bank of NY Mellon 994,510 Federal Home Loan Bank 100 ." 105% N/A 08/1ZI3 1.05% I,OW,OW 979,080 Bank of NY Mellon 993,640 Federal Farm Credit Bank 2,"," 098% N/A 08/15A3 0,98% 1997,000 1985920 Bank of NY Mellon 1,984,160 Federal National Mortgage A„9cialion 1,000,000 1.OW6 NA OW28/13 100% 998,000 998,240 Bank of NY Mellon 988,630 Federal National Mortgage Association 2,000,WO 1,10. N/A 08/28/13 1.10% 2,OW.OW 1987,460 Bank of NY Mellon 1.983750 Federal Home Loan Mortgage CorporMion 2,M." 1D0°. N/A 09/20/13 LW% 2,W0,000 1973000 Bank of NY Mellon 1,974,540 Federal Home Loan Bank 2,000,000 LWI.. NIA 09120J13 1.00% 1998,000 1954,940 Bank of NY Mellon 1960440 Federal Home Loan Mortgage Corporation 2,O ,M 1D4% N/A 09/27/13 1W% 2,wri,o00 1,972,640 Bank of NY Mellon 1,976,460 Federal National Mortgage Association 2,Oo0,0o0 10 /. N/A 09,27,13 1,07% 2,W0,0W 1.976,460 Bank of NY Mcllon 1,9711,380 Federal National Mortgage Association 2.000,000 220s. N/A 10,2+13 2,20% 0 0 Bank of NY Mellon 2,002340 Federal Home Low Mortgage Corporation I,OW,WO 2001. N/A 10/30113 2W% 0 0 Bank of NY Mellon 10015W Federal Home Loan Mortgage Corporation I,OW,OW 205% N/A 10/3W13 205% 0 0 Bank of NY Mellon 1001480 Federal Home Loan Mortgage Corporation IOW,WO 2W16 N/A Il/27/13 2.W% 0 0 Bank of NY Mellon 1DOI9W Federal Home Loan Bonk IOW,WO 0.75% N/A IIaW13 075% IOW,OW 980.670 Bank of NY Mellen 980,625 Federal How Loan Bank I,OW.WO 2W/. N/A IV13/13 208% 0 0 Bank of NY Mellon 10023W Federal National Mortgage Association 4,OW,WO 103% N/A OF30/14 103% 4,WO,000 3,N2,320 Bank of NV Mellon 3,928,800 Federal National Mortgage Association I,00ll,000 2 W. N/A 0150r14 2.009. 1 W0,0W 1 001 550 Bank of NY Mcllon 1 004,580 Federal Home Loan Mortgage Corporation 2,000,o00 1.125% N/A 02/24/14 1.125% 2,W0,000 1,998040 Bank of NY Mellon 1994.020 Federal National Mortgage Asaocnoion 10000W 2D01. N/A 02/28/14 20C4. I,WO,OW 996AW Bank of NY Mellon 1,0 ,710 Federal National Mortgage Asancielton 2,OW0W 110%. N/A 03/12/14 1.10% 2,OW,OW 1938,460 Bank of NY Mellon 1,946,300 Federal Natimal Mortgage Association IOW,WO 2.05% N/A 03/IV14 205% I,0000W 1,000,625 Bank of NY Mellon IC05,070 Federal Natimal Mortgage A.cialion [OW,OW 2,0 . N/A 03/13/14 2W% 1000.000 1.M.]10 Bank of NY Mellon 1004,080 Federal Homo Loan Mortgage Corporation 2,0W,OW 1.20% N/A 03/20/14 1.20% 200QOW 1952.380 Bank of NY Mellon 1962,220 Federal Home Loan Mortgage Caryoratlon 2,000,000 1.15% NIA 04/25i14 1.15% 2,OW,OW 1951480 Bank or NY Melon 1.%2,020 Federal National Mortgage Association 2,0OQ000 1.03% N/A 05/21/14 103% 2,W0,0W 1,938,560 Bank of NY Mellon 1946,600 Federal How Loan Bank I,0W000 08W6 N/A W/12'14 0.80'. LW0,0W 978.710 BankoFNY Mellon 981.130 43 991 0W trearrep OV2%014 O riff TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS December 31, 2013 Par Coupon Matunty or Yield Adjusted Category (memo only) Prior Vtr. Value Rate Ratimi Call Date to Maturity Cost Basis Total Market Value Source Market Value Medium Term Investments (1 year to 3 years) Corporate Notes General Electric Capital Corporation 1,000000 0.60% Al/AA+ 04/13/15 1.20% 1000000 1000,010 BankofNYMellon 1,000,010 1,000,000 Time Deposits Ally Bank CD 200,000 1.15% N/A 727/15 1.15% 200,000 200,000 Bank of NY Mellon 200,000 GE Cap Retail Bank CD 200,000 1.35% N/A 7/20116 1.35% 200,000 203,282 Bank of NY Mellon 203,472 GE Cap Bank CD 200,000 1.35% N/A 7/20/16 1.35% 200,000 203,282 Bank of NY Mellon 203,472 600,000 Long Term Investment (3 year, to 5 years) Time Deposits Goldman Sachs Bank CD 200,000 1.80% N/A 725117 1.80% 198,600 204,670 Bank ofNY Mellon 205,199 Discover Bank CD 200,000 1.70% N/A 7126/17 1 70% 200,000 203,966 Bank of NY Mellon 204,446 398,600 U.S.Gott Agency Securities Financing Corporation(FICO) 500,000 9.80% N/A 04/06/18 9m% 498,594 662,526 Bank of America 680,585 499,594 S 91408,656 $ 90,924,457 $ 99,757,715 Total Invested Cash "Includes the following deposits of non-City funds'. Principal Interest Total Palm Springs Historical Society 250,000 1,246 251,246 treasrep 01/27/2014 C) Cn TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS December 31, 2013 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 91,408,656 $ 91,408,656 $ 91,408,656 Miscellaneous Accounts Petty Cash 4,000 N/A N/A open None 4,000 Trust&Agency-Bank of America 802,679 N/A N/A open None 802,679 Downpayment Assistance(Housing Fund)-Bank of America 33,821 0.05% N/A open 0.05% 33,821 Workers Compensation-Bank of America 43,759 N/A N/A open None 43,759 General Liability-Bank of America 29,670 N/A N/A open None 29,670 1930's General Store Museum-Bank of America 8,306 N/A N/A open None 8,306 On-Line Credit Card Fire Inspection Fees 142,462 N/A N/A open None 142,462 -Bank of America On-Line Credit Card Transportation Permits 9,172 N/A N/A open None 9,172 1,073,870 -Bank of America Total Cash Deposited $ 92,482,525 treasrep 01/27/2014 G'J Qf TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS December 31, 2013 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value 2004/2012 Convention Center Invesco Government&Agency Private 5,936,631 variable AAA open 0.01% 5,936,631 5.936,630 Bank of NY Mellon 5,936,300 5 936,631 1991r01 Series B-Housing Invesco Govemment&Agency Private 478,152 variable AAA open 002% 478,152 478.152 Bank of NY Mellon 478,123 478,152 1994/04 Series A&B/2007A,B,&C Invesco Government&Agency Private 1,697,266 variable AAA open 0.01% 1,697,266 1,697,266 Bank of NY Mellon 1,697,183 1,697,266 1998 Airport PFC Invesco Government&Agency Private 2,833,328 variable AAA open 0.01% 2,833,328 2,933,328 Bank of NY Mellon 1,293,835 2 833 329 2002 Parking Structure Cash 3 3 3 Bank of NY Mellon 3 Invesco Government&Agency Private 1,967 variable AAA open 0.01% 1,967 1,967 Bank of NY Mellon 1912 1,971 2004 Assessment District 161 Invesco Government&Agency Private 394,777 variable AAA open 0,02% 394,777 394,777 Bank of NY Mellon 394,754 394,777 ueasrep 01272014 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS December 31, 2013 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rating Maturity turf Cost Basis Total Market Value Source Market Value 2004 Assessment District 162 Invesco Government&Agency Private 156,836 variable AAA open 0.02% 156,936 156,836 Bank of NY Mellon 156,827 156,836 2005 Assessment District 164 Invesco Government&Agency Private 366,748 variable AAA open 0.02% 366,748 366,748 Bank of NY Mellon 366,726 366,748 2006 Airport PFC Invesco Government&Agency Private L693,273 variable AAA open 0,02% 1,693,273 1,693,273 Bank of NY Mellon 1,312,799 693,273 2007 Refunding Lease Revenue Bonds Invesco Government&Agency Private 1 variable AAA open 0,01% l 1 Bank of NY Mellon 316,076 1 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 3,189,344 variable AAA open 0,01% 3,189,344 3,189,344 Bank of NY Mellon 3,189,149 3,189,344 ChevroNCoGen Lease Proceeds Cash 13,416,443 13,416,443 13 416,443 Deutsche Bank 14,717.283 13,416,443 Funds With Century Golf 370,495 370,495 370,495 Century Golf 548.774 370,495 Totals 31,182,730 31,182,729 $ $31,057,206 treasrep 01/27/2014 Q 00 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS December 31, 2013 Allowable Percentages By Maturity: Minimum Maximum Current Mo. 1 day to 365 days $8,000,000 N/A $88,911,462 1 year to 3 years 0.00% 50.00% 1.75% 3 years to 5 years 0.00% 30.00% 0.98% 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% 1.09% Corporate Notes N/A 20.00% 1.09% 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% 48.67% U.S.Treasury Notes/Bonds N/A N/A 0.00% treasrep 01/27/14 n m