The URL can be used to link to this page

Home My WebLink About1/15/2014 - STAFF REPORTS - 2.E. �?PAMSpR A. iy c V N .s '�....a' c'4[<FORN`P» - City Council Staff Report DATE: January 15, 2014 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF NOVEMBER 30, 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 November 30, 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 $93,187,863 plus $32,503,498 in bond issue capital projects, reserve and debt service funds. The market value of the invested cash is $93,041,247. RECOMMENDATION: Receive and File Treasurer's Investment Report as of November 30, 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. ITEV� NO. .¢1'f— — City Council Staff Report January 15, 2014— Page 2 Treasurer's Investment Report as of November 30, 2013 The weighted average maturity (WAM) of the portfolio is 47.62 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 November 30, 2013 On Call Deposits Adjusted Basic Category Total Percentage Checking Account $ 5,210,705 CalTrust ShortTerm 12,202,804 CalTrust MidTerm 28,271,118 State Pool 15,041 $ 45,699,669 49.04% Short Term Investments (1 year or less) U.S. Gov't Agencies 44,991,000 44,991,000 48.28% Medium Term Investments (1 year to 3 ears) Corporate Notes 1,000,000 Time Deposits 600,000 1,600,000 1.72% Long Term Investments (3 year to 5 ears) Time Deposits 398,600 U.S. Gov't Agencies 498,594 897,194 0.96% $ 93,187,863 100.00% treasrep 12/23/13 O TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS November 30,2013 Par Coupon Minion,ar Yield Adjmted Car'., finemo oral') P'nrQtr Value Rate R tina Call to to KRWT1 Ccat 9p;ik Total Market Value Source Market Value On Call De ata Checking-Bank oFA.Ht. S NIA N/A AAA open None 5,210,705 $ 5,210.705 BaWeof America 7235,359 Caorrast Sho Term N/A N/A open 039% 12,202,804 12.217.073 CalTrust 12,196,319 CalTrus Mitform N/A N/A open 070% 28,211,118 28,235,386 CoTruat 28,1-48,W2 l.oml Agan,lnvmt Food(LAM) 15,041 variable WA open 0,263% 15,041 15,050 LAIF 15,036 45,699669 Short Term 1:.t ata (I year or less) U.S.Cmvt Agenry Securities Federal Farm Credit Bank 10mW 0.85% N/A 11/15/12 0.85% 999,000 100W030 Bank of NY Mellon 993,300 Federal Home loan Bank 2,OW,000 tW% N/A 12/18/12 LW. 1999,OW 1985,060 Bank afNY Mellon 1910460 Federal Farm Credit Bank 2,OW,000 I.12V. N/A 05/20/13 1.12% 2,W0,000 1980.480 Bank of NY Mellon 1972500 Federal Home L.Mortgage Corporation 1'0mW IW. N/A 07111/13 1W% IOOO,OW 988,9W BankofW Mellon 980,990 Federal Home Loan Mortgage Corpoaton 2,000,000 105% N/A 07116/13 105% 2,0WOW 198g140 Bank of NY Mellon 1967,800 Federal Home Loan Bank I,OWWO 100% N/A 07/30/13 1 W% I,000,OW 988,520 Bank of NY Mellon 982,550 Federal Home Loan Bank 10W,OW 045, N/A 09/39/13 045% 10mom W8.490 Bank of NY Mellon 994.510 Federal Home Loan Bank I,OW' 0 1.05% N/A 09/1113 105% I,OW,OW 989,610 Bank of NY Mellon 983640 Federal Farm Credit Bank 2,OW,000 0.98% N/A 08/15/13 098% I,997,OW 1997,120 Bank of NYMellon 1984,160 Federal Natioal Mortgage Association I,OW,000 IWi. N/A 08128/13 1W% "S8W0 995,980 Bank of NY Mellon 988630 Federal National Mortgage Association 2.W0W0 1101. N/A 09128113 110% 2m0m) 2,002,913 Bank of NY Mellon 1983,750 Federal Home Loan Mortgage Corporenon 2,W),000 I.WY. N/A 09/20/,13 100% 2,000000 1989.020 Bank of NY Mellon 1974,540 Federal Home Loan Bank 2,0W,000 100% N/A OW20/13 IAO% 1,999,OW 1975,140 Bank of NY Mellon 1960440 Federal Home Loan Mortgage Corporation 2,0m" 104•. N/A 09/27/13 1 N% 2,WO,OW 1,988,940 Bank of W Mellon 1 9'14,4W Federal Natimml Mortgage Association 2,W),W 1.07% N/A 09/27/13 107% 2,W0.0W 1992,8W Bank of W Mellon 1978,380 Federal National Mortgage Association 2,DW,W0 22MA N/A IW24/13 220% 0 0 Bank of NY Mellon 2,W2,340 Federal Home loan Morgage Corporation 1,000,000 2W1. N/A 10/30/13 2m% 0 0 Bank of NY Mellon 1W1,5W Federal Home Loan Mortgage Corporation I0W'W0 205% N/A IW30/13 205% 0 0 Bank of W Mellon 1001480 Federal Home loan Mortgage Corpmanon I M," 2.W. WA 11/27/13 2 W. 0 0 Bank of NY Mellon 1 W1,9W Federal Home Loan Bank I,WWWO 0.95% N/A 11/29/13 095% I,000,WO 989280 Bank of NY Mellon 980,625 Federal Home Loan Bank I,OW,OW 208% N/A IV13/13 2.08% Ip00,OW 10W.5W Bank of NY Mellon 1002.3W Federal National Mortgage Aaaaciation 4,WO,DOD 103% NIA 01/30/14 103% 4m0,0W 3,952,760 Bank of NY'Mellon 3928,800 Federal National Mortgage Association 10W,WD 20% WA 01/3W14 2W1. 1000.OW 1,002.010 Bank of NY Mellon IDOM1,580 Federal Home Loan Mortgage CaWration 2,ODWo00 1.125% NIA 02'24i14 1.125% 2W0,0W 2,002,520 Bank of NY Mellon 19N,020 Federal Natioal Mortgage Association I,OW,WO 2W% NIA Ob'28/14 2.W1. 1000,000 1002,9W Bank of NY Mellon 1000,910 Federal National Mortgage Association 2,OW,000 1.10% NIA 03/1114 1.10% 2,W0,0W 1960,160 Bank of NY Mellon 1946,3W Federal Natiaul Mortgage Association IQOWWD 205% NIA 03/12114 2.05% IM0,000 100]9]0 Bank of NY Mellon 1,005,070 Federal National Mortgage Association I,WO,WO 2.W% NIA 03/13/14 2.W. I'M.oW 1W3330 Bank of NY Mellon I.W4,080 Federal Ham,Loan Mortgage Corporallaa 2,0m, 120% NIA 03/20/14 1.2W.. 3,WWOW 1974,320 Bank of NY Mellon 1962,220 Federal Home Loan Mortgage Corporation 2,0OW0W 1.15% WA NC5114 1.15% 2.WO,aW 1,973,860 Bank of NY Mellon 1962020 Federal National Mortgage Association 2,WOOOD 103% NIA 05/21/14 103% 2,WWOW 1959,900 Bank of W Mellon 1946,600 Federal Home Lawn Bank 1,000,OW 0.80% NIA W/12/14 0.801. 1,0W,W0 988,610 Bank of NY'Mellon 981,130 44,991 OW tremep 12I23/13 0 r� TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS November 30, 2013 Par Coupon Maturity or Yield Adjusted Category (memo only) Prior Qtr. Value Rate Ratinu Call Date to Maturiy Cast Basis Total Market Value Source Market Value Medium Tenn investments (1 year m 3 years) Corporate Notes General Electric Capital Corporation 1,000,000 0.60% AI/AA+ 04/13/15 L20% 1,000,000 1,000,050 Bank ofNY Mellon 1,000,010 1,000,000 Time Deposits Ally Bank CD 200,000 1.15% N/A 7/27/15 1.15% 200,000 200,000 Bank of NY Mellon 200,000 GE Cap Retail Bank CD 200,000 1.35% N/A 7/20/16 1.35% 200,000 204,198 Bank of NY Mellon 203A72 GE Cap Bank CD 200,000 1,35% N/A 7/20/16 1.35% 200,000 204,198 Bank of NY Mellon 203,472 600,000 Long Term Investment (3 years to 5 years) Time Deposits Goldman Sachs Bank CD 200,000 1.80% N/A 7/25/17 1.80% 198,600 206,448 Bank of NY Mellon 205,199 Discover Bank CD 200,000 1.70% N/A 7/26/17 1.70% 200000 205,725 Bankof NYMelhm 204446 399,600 U.S.Gov't Agency Securities Financing Corporation(FICO) 500,000 9 80% N/A 04/06/18 9,90% 498,594 675.122 Bank of America 690,595 498,594 E 93,197,863 S 93,041,247 $ 99,757,715 Total Invested Cash 'Includes the following deposits of non-Ciq funds: Principal Interest Total Palm Springs Historical Society 250,000 1,161 251,161 missap l2/23/13 0 Qn TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS November 30, 2013 Yield Adjusted Par Value Coupon Ratine Maturitv to Maturity Cost Basis Cateeory Total Total Invested Cash $ 93,187,863 $ 93,187,863 $ 93,187,963 Miscellaneous Accounts Petty Cash 4,000 N/A N/A open None 4,000 Trust&Agency-Bank of America 794,849 N/A N/A open None 794,849 Downpayment Assistance(Housing Fund)-Bank of America 33,820 0.05% N/A open 0.05% 33,820 Workers Compensation-Bank of America 43,222 N/A N/A open None 43,222 General Liability-Bank of America 27,162 N/A N/A open None 27,162 1930's General Store Museum-Bank of America 8,668 N/A N/A open None 8,668 On-Line Credit Card Fire Inspection Fees 134,843 N/A N/A open None 134,843 -Bank of America On-Line Credit Card Transportation Permits 8,963 N/A N/A open None 8,963 1.055,528 -Bank of America Total Cash Deposited $ 94,243,391 tmasrep 12/23/13 O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS November 30, 2013 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rating Maturity to Maturity Cost Basis Tote[ Market Value Source Market Value 2004/2012 Convention Center Invesco Government&Agency Private 5,936,485 variable AAA open 0,01% 5 936,485 5 936,484 Bank of NY Mellon 5,936,300 5,936,495 1991/01 Series B-Housing Invesco Government&Agency Private 478,140 variable AAA open 0.02% 478,140 478,140 Bank of NY Mellon 478,123 478,140 1994/04 Series A&B/2007A,B,&C Invesco Government&Agency Private 1,697,224 variable AAA open 0.01% 1,697,224 1,697,224 Bank of NY Mellon 1,697,183 697,224 1999 Airport PFC Invesco Government&Agency Private 2,775,153 variable AAA open 0.01% 2,775,153 2,775,153 Bank of NY Mellon 1,293,835 2.775,153 2002 Parking Structure Cash 3 3 3 Bank of NY Mellon 3 Invesco Government&Agency Private 15 variable AAA open 0.01% 15 15 Bank of NY Mellon 1912 IS 2004 Assessment District 161 Invesco Government&Agency Private 394,768 variable AAA open 0.02% 394,768 394,768 Bank of NY Mellon 394,754 394,768 treasrep 12/23/13 0 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS November 30, 2013 Par Coupon Yield Adjusted Category (memo only) Pnnr Qtr. Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value 2004 Assessment District 162 Invesco Govenuncnt&Agency Private 156,832 variable AAA open 0.02% 156,832 156.832 Bank of NY Mellon 156,827 156,932 2005 Assessment District 164 Invesco Government&Agency Private 366,739 variable AAA open 0 02% 366,739 366,739 Bank of NY Mellon 366,726 366,739 2006 Airport PFC Invesco Government&Agency Private 1,566,440 variable AAA open 002% 1,566,440 1,566,440 Bank ofNY Mellon 1,312.799 1,566,440 2007 Refunding Lease Revenue Bonds Invesco Govemment&Agency Private 1 variable AAA open 0.01% 1 1 Bank of NY Mellon 316,076 I 2008 Airport PFC Refunding Invesco Govemment&Agency Private 647,464 variable AAA open 0 02% 647,464 64T464 Bank of NY Mellon 647,464 647,464 Reserve for 2012 Downtown Revitalization Lease Revenue Bond Invesco Govemment&Agency Private 4,158,921 variable AAA open 0.01% 4,158,921 4,158,921 Bank of NY Mellon 3,189,148 4,158,921 ChevrotdCoGen Lease Proceeds Cash 13,882,950 13,882,950 13,882 950 Deutsche Bank 14 717,283 13,882,950 Funds With Century Golf 442,362 442,362 442,362 Century Golf 548,774 442,362 Totals 32,503 498 32,503 497 $ $31,1157 206 treasrep 12123/13 O 00 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS November 30, 2013 Allowable Percentages By Maturity: Minimum Maximum Current Mo. 1 day to 365 days $8,000,000 N/A $90,690,669 1 year to 3 years 0.00% 50.00% 1.72% 3 years to 5 years 0.00% 30.00% 0.96% 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% 1.07% Corporate Notes N/A 20.00% 1.07% 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% 48.81% U.S. Treasury Notes/Bonds N/A N/A 0.00% treasmp 12/23/13