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Home My WebLink About12/4/2013 - STAFF REPORTS - 2.C. PALM S,. iy c s �o .•° eromN c4`1F0""�P City Council Staff Report DATE: December 4, 2013 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF OCTOBER 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 October 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 $95,135,409 plus $33,879,063 in bond issue capital projects, reserve and debt service funds. The market value of the invested cash is $94,851,298. RECOMMENDATION: Receive and File Treasurer's Investment Report as of October 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. IL City Council Staff Report December 4, 2013 — Page 2 Treasurer's Investment Report as of October 31, 2013 The weighted average maturity (WAM) of the portfolio is 54.33 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 gL44, /,-z Geoffr S. Kiehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS October 31, 2013 On Call Deposits Ad'usted Basis Category Total Percentage Checking Account $ 6,175,306 CalTrust ShortTerm 12,200,777 CalTrust MidTerm 28,256,090 State Pool 15,041 $ 46,647,215 49.03% Short Term Investments 1 year or less U.S.Gov't Agencies 45,991,000 45,991,000 48.34% Medium Term Investments 1 yearto 3 ears Corporate Notes 1,000,000 Time Deposits 600,000 1,600,000 1.68% Long Term Investments 3 year to 5 ears) Time Deposits 398,600 U.S. Gov't Agencies 498,594 897,194 0.94% $ 95,135,409 100.00% treasrep 11/19/13 W TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS October 31,2013 Par Coupon Matwry or Yield Adjusted Category (memo only) Prior Qtr Value get; Retina Call Date to Miami Miamit, Coal Bgyp 72w Market Value Sourc< Markel V.I. Oo Call Deposits Checki,-Bankof America S N/A N/A AAA open None 6,195,31)6 S 6,175,306 Bank of America 7,285.359 Cafrrust ShortTetm• N/A WA open 0.34% 12,20Q977 12,196,319 CalTrmt 12,1%.319 C.Mmat MldTerm N/A N/A open 061% 28256,OW 28,148,042 CalTrrat 28,148,W42 Local Agency loves[Fund(LAM) 15,NI variable NIA open 02W/1 15,NI 15,050 LAM 15,036 46,64J,215 Short Term Invesmar"I (1 year or leis) U.S.Croft Agency Securities Federal Farm Credit Bank IOOO,OWO 0.85% N/A 11/15/12 0.85% 999,000 .996,875 Bank of NYMellon e')3,3W Federal Home Loan Bank 2,0W000 IWA N/A 12118/12 1WA 1,999,0W 1981.120 Bankaf NYMellon 1910,4W Federal Farm Credit Bank 2,OW,000 1.12% N/A OV20/13 1.12% 2,0W,0W 1982,080 Bank of NY Mellon 1992,5W Federal Home Loan Mortgage Corporation I'"'" I W1. N/A 07/1 I/13 1 W/ 1 000,000 979,250 Bank of NY Mellon 980 890 Federal Hame Loan Mortgage Corporation 2,OW,000 105% N/A 07/16/13 105% 2,0W,0W 1977,%0 Bank of NY Mellon 196/,800 Federal Home Loan Bank 1,0W,000 IWA N/A 0713M13 1.WA 1,"," 987.930 Bank of NYMellon 982,550 Federal Home loan Bank 10W,0W 0.45% N/A 08109/13 0.45%% IOW,OW 97,870 Bank of NY Mellon W4,510 Federal Home Loarr Bank 1,0W,000 105% N/A 08112/13 105% 1000,(W 988,790 Bank of NY Mellon 983,"0 Federal Farm Credit Bank 2,0W,0110 0.98% N/A 09/15/13 098% 19ff/,0W 1W4,820 Bank of NY Mellon 1994,160 Federal National Mortgage Association 1,0W,000 IW°. N/A 0812VI3 1WA M,oW 993580 Bank of NY Mellon 988,630 Federal National Mortgage Association 2,OW(W0 1.10% N/A O8128/13 110°/. 2,0W000 1W8,280 Bank of NY Mellon 1983,750 Federal Home Loan Mortgage Corporation 2,OW,000 lW°/. N/A 09/20/13 1.00°/. 2,M.OW 1,985,120 Bankof NY Mellon 1974,540 Federal Home Loan Bank 2,0W,0W I0054 N/A 0W20/13 100% 1,998,0W 1973,020 Bank of NY Mellon 1960,440 Federal Home Loan Mortgage Corporation 2,0W,000 IN% N/A 09127/13 1.04% 2,ODQ0W 1985,040 Bam1tof NYMellon 1,994,460 Federal National Mortgage Association 2,OO , W 107% N/A 09/27/13 109% 2,0W,oW 1988,220 B,md,of NY Mellon 1978.380 Federal National Mortgage Aame a mar 2.OI ,w 2.20". N/A I O124/13 2.20% 0 0 Battik of NY Mellon =W2.340 Federal Hame Loan Mortgage Coloration I"W'000 20WA N/A 10/30/13 2.W/o 0 0 Bank of NY Mellon 1W1,500 Federal Home Loan Mortgage Con-,oration 1,0W,W0 205% N/A 10/30/13 2.05% 0 0 Bank of NY Mellon 1WI680 Federal Home Loan Mortgage Corporation 10W,000 2(1 N/A 11/27/13 2W/. IW0,0W 1001,190 Bank of NYMellon 1001990 Federal Home Loan Bank I,OW,000 075% N/A 11/29/13 075% LoW,OW 987,5W Bank of NY Mellon 980,625 Federal Home Loan Bank I'mi00 208% N/A IV13/13 2.08% 10W,0W IW2,MW Bank of NY Mellon 1,W2,300 Federal National Mortgage Association 4,W,W0 1,03% N/A 01/30/14 1.03% 4,OWW0W 3,948,160 Bank of NY Mel Ion 3,928,800 Federal National Mortgage Association I,ow,fw 2,OW1. N/A 01/30/14 2W1. I,OW,OW 1,003,430 Bank of NYMellon 1W4,580 Federal Home Loan Mortgage Coporatom 20W,000 1.125% N/A OV24/14 1125% 2,0W,OW 2,W3,920 Bank of NY Mel Ion 1,994,020 Federal National MortSW Ameiation 1,0W,W0 20W1. N/A 112/28/14 2.00% 100.01)0 1W4,130 Bank of NY Mellon IW0,710 Federal National Mortgage Association 2,000,000 1.10% N/A 03/12/14 LIOY. 2'",oW 1957,160 Bardeof NY Mellon 1946,300 Federal National Mortgage Aaamietian IpIW ,M 205% N/A 03/12/14 2.05% 1,WQ0W IWg375 Bank of NY Mel ton 1,W5,070 Federal National Mortgage Association 10W,W0 2.W% N/A 03/11/14 2W- 1,W0,oW 1.W3,438 Bank of NY Mellon 1,004.080 Federal Home Loan Mortgage Corporalion 2,OWA00 120% N/A 03/20/14 1.20% 2,000,OW 1,973,040 Bank of NY Mellon 1962,220 Federal Home Loan Mortgage Corporation 2,OW,W0 1.15% N/A 04/25/14 1.15% 2,0W,0W 1,973,260 Bank of NY Mellon 1962,020 Federal National Mortgage Association 2,0W,W0 103. N/A 05/21/14 103% 2,OW,OW 1958,300 Bank of NY Mellon 1,946,600 Federal Home Loan Bank I,000,M 0.80% N/A W/1114 0.80% 1,0W,000 987,430 Bank of NY Mellon 981,130 45,'M1 OW tmarep 11/19/13 a a TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS October 31, 2013 Par Coupon Maturity or Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rating Call Date to Maturity Cost Basis Total Market Value Source Market Value Medium Tenn Investments (I year to 3 years) Corporate Notes General Electric Capital Corporation 1,000,000 0.60% AI/AA+ 04/13/15 1.20% 1,000,000 1,000,070 Bank of NY Mellon 1000,010 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 720/16 1.35% 200,000 203,864 Bank of NY Mellon 203472 GE Cap Bank CD 200,000 1,35% N/A 7/20/16 1.35% 200,000 203,864 Bank of NY Mellon 203,472 600,000 Long Term Invesunent (3 years to 5 years) Time Deposits Goldman Sachs Bank CD 200,000 1.80% N/A 7/25/17 1.80% 198,600 205,928 Bank of NY Mellon 205,199 Discover Bank CD 200,000 1,70% N/A 7/26/17 170% 200,000 205,191 Bank of NY Mellon 204446 398,600 U.S.Gov4 Agency Securities Financing Corporation(FICG) 500000 9.80% N/A 04/06/18 9,90% 498,594 680,756 Bank of America 690,595 498,594 S 95,135,409 $ 94,951,298 $ 99,757,715 Total Invested Cash -Includes the following deposits of non-City funds: Principal Interest Total Palm Springs Histoncal Society 250,000 1,082 251,092 treasrep 11/19/13 CA TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS October 31, 2013 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 95,135,409 $ 95,135,409 $ 95,135,409 Miscellaneous Accounts Petty Cash 4,000 N/A N/A open None 4,000 Trust&Agency-Bank of America 806,713 N/A N/A open None 806,713 Downpayment Assistance(Housing Fund)-Bank of America 33,819 0.05% N/A open 0.05% 33,819 Workers Compensation-Bank of America 49,629 N/A N/A open None 49,629 General Liability-Bank of America 29,340 N/A N/A open None 29,340 1930's General Store Museum-Bank of America 5,541 N/A N/A open None 5,541 On-Line Credit Card Fire Inspection Fees 126,704 N/A N/A open None 126,704 -Bank of America On-Line Credit Card Transportation Permits 8,774 N/A N/A open None 8,774 1,064,519 -Bank of America Total Cash Deposited $ 96,199,928 treasrep 11/19/13 C77 TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS October 31, 2013 Par Coupon Yield Adjusted Category (memo only) Prior Qtr Value Rate Rating Maturity to Maturity Cost But Total Market Value Source Market Value 2004/2012 Convention Center Invesco Government&Agency Private 9,759,056 variable AAA open 0.01% 9,759,056 9,759.055 Bank of NY Mellon 5,936,300 9,759,056 1991101 Series B-Housing Invesco Government&Agency Private 478,131 variable AAA open 0.02% 478,13t 479.131 Bank of NY Mellon 478,123 478,131 1994104 Series A&B/2007A,B,&C Invesco Government&Agency Private 1,697,190 variable AAA open 0.01% 1,697,190 1,697,190 Bank of NY Mellon 1,697,183 1,697,190 1999 Airport PFC Invesco Government&Agency Private 1,351,992 variable AAA open 0,01% 1,351992 1,351992 Bank of NY Mellon 1,293,835 1,351,992 2002 Parking Structure Cash 3 3 3 Bank of NY Mellon 3 Invesco Government&Agency Private 2,085 variable AAA open 0 01% 2,095 205 Bank of NY Mellon 1,912 2,098 2004 Assessment District 161 Invesco Government&Agency Private 394,760 variable AAA open 0.02% 394,760 394,760 Bank of NY Mellon 394,754 III treasrep 394.760 11/19/13 <_i I � I TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS October 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 Assessment District 162 Invesco Government&Agency Private 156,829 variable AAA open 0.02% 156,829 156,829 Bank of NY Mellon 156,827 156,829 2005 Assessment District 164 Invesco Government&Agency Private 366,732 variable AAA open 0.02% 366,732 366,732 Bank of NY Mellon 366,726 366.732 2006 Airport PFC Invesco Government&Agency Private 1,439,616 variable AAA open 0.02% 1,439,616 1,439,616 Bank of NY Mellon 1,312,799 1,439,616 2007 Refunding Lease Revenue Bonds Invesco Govemment&Agency Private I variable AAA open 0,01% 1 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 Govemment&Agency Private 3,I89,201 variable AAA open 001% 3,189,201 3,189,201 Bank of NY Mellon 3,189,149 3,189,201 Chevron/CoGen Lease Proceeds Cash 13,892,950 13,882,950 13 882,950 Deutsche Bank 14 717,283 13,882,950 Funds With Century Golf 513,053 513,053 513,053 Century Golf 549,774 513,053 Totals 33,879,063 33,879,062 $ $31,057,206 treavrep 11/19/13 CO TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS October 31, 2013 Allowable Percentages By Maturity: Minimum Maximum Current Mo. 1 day to 365 days $8,000,000 N/A $92,638,215 1 year to 3 years 0.00% 50.00% 1_68% 3 years to 5 years 0,00% 30.00% 0.94% 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% 1.05% Corporate Notes N/A 20.00% 1.05% 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% 48.87% U.S. Treasury Notes/Bonds N/A N/A 0.00% treamp 11/19/13 C Cil