HomeMy WebLinkAbout10/16/2013 - STAFF REPORTS - 2.H. QpPLM S.0
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4<lFORN, City Council Staff Report
DATE: October 16, 2013 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
AUGUST 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 August 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
$104,025,242 plus $33,327,926 in bond issue capital projects, reserve and debt
service funds. The market value of the invested cash is $103,131,134.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of August 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. U
City Council Staff Report
October 16, 2013 — Page 2
Treasurer's Investment Report as of August 31, 2013
The weighted average maturity (WAM) of the portfolio is 63.33 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
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
August 31, 2013
On Call Deposits Adiusted Basis Category Total Percentage
Checking Account $ 4,100,206
CalTrust ShortTerm 22,197,070
CalTrust MidTenn 28,224,740
State Pool 15,032 $ 54,537,048 52.43%
Short Term Investments
1 ear or less)
U.S.Gov't Agencies 46,991,000 46,991,000 45.17%
Medium Tenn Investments
(1 year to 3 yeais)
Corporate Notes 1,000,000
Time Deposits 200,000
U.S.Gov't Agencies 0 1,200,000 1.15%
Long erm Investments
3 ear to 5 ears
Time Deposits 798,600
U.S. Gov't Agencies 498,594 1,297,194 1.25%
$ 104,025,242 100.00%
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
August 31,2013
Par Coupon Maturity or Yield Adjusted Category (memo only) Prior Cu.
Value bl5 Ratine Call Data to Maturity Cost T91n1 Market Value Source Market Vsluc
On Call Dposits
Checking-Banc of America $ N/A N/A AAA open None 4,100.206 S 4,100.206 Bank of Amenea 4,100,206
C.ITnat ShmoTerm- N/A N/A open 0.34% 22,197,070 22,197,964 CelTrast 27,154,304
CalTrust Midienn N/A N/A open 0.63% 28,224,740 28,077,040 CelTmst 28.021,069
Local Agene,lnvea't Fund(LAIF) 15,032 .amble N/A open 0271% 15,032 15,036 LAIF 15,027
54,537,048
Shout Term Investments
(1 yam or leas)
U.S.Gold Agency Securities
Federal Fann Credit Bank 1.000,000 0.85% N/A 11/15/12 085% 999.000 989.160 Bank ofNY Mellon 987,370
Federal Home Loan Bank 2.000.000 100% N/A 12/IS/12 100% 7 999,000 1,953,960 Bank ofNY Mellon 1,959,360
Federal Farm Credit Bank 2.0W.000 1.12% N/A 05/20/13 1.12% 2,000,000 1959.180 Bank ofNY Mellon 1960,829
Federal Home Wen Mortgage Corporation 1,000,000 100-A NIA 07/11/13 100% 1,000.000 971,875 Bank ofNY Mellon 976,010
Federal Home Loan Mortgage Corporation 2.000,000 1.05% N/A 07/16/13 1.05% 2.000.000 1,950.400 Bank of NY Mellon [958,750
Federal Home Loan Mortgage Corporation 5.000,000 200% N/A 07/17/13 100% 0 0 Bank of NY Mellon 5004050
Federal Home Loan Bank 1,0W,000 100% N/A 07/30/13 1.00% 1,000,000 973500 Book cf NY Mellon 977710
Federal Home loan Bank 1.000,000 0.45% N/A 08/09/13 045% 1,o0Q000 991610 Bank ofNY Mellon 992.090
Federal Home Loan Bank 7000,000 1.05% N/A 08/12/13 1.05% 7000.000 974,700 Bank of NY Mellon 979,OW
Federal Farm Credit Bank 2,000,000 098% N/A OS/I5/13 098% 1,997,000 1,975,580 Bank of NY Mellon 1972,080
Federal National Mortgage Association 1,0m000 100% NIA 08/28/13 1.00% 998.000 979,970 Bank of NY Mellon 981460
Federal National Mortgage Association 2,000000 1.10% N/A 0828/13 1.10% 2,000,000 1966860 Bank of NY Mellon L971,860
Federal Home Loan Mortgage Corporation 2,000,000 100% N/A 0/20/13 1.00% 2,000,000 1958,280 Bank ofNY Mellon 1,963.750
Federal Home Loan Bank 2,000,000 1.001A N/A 09/20/13 1.00% 1,998.000 1,939,860 Bank of NY Mellon 1,947,240
Federal Home Loan Mortgage Corporation 2,000,000 104% N/A 09/27/13 104% 2,000,000 1,958,300 Bank of NY Mellon 196.3,980
Federal National Mortgage Association 2,o0Q000 107% N/A 09/27/13 1.07% 2,000,000 1962,188 Bank ofNY Mellon 1967,740
Federal National Mortgage Association 2,00 ,000 2201/6 N/A 10'24/13 2.20% 2,000,000 2,000,660 Bank ofNY Mellon 0
Federal Home Wan Mortgage Corporation 1,000,000 2.00"A N/A 10130/13 200% 1,000.000 1002,900 Bank of NY Mellon 0
Federal Home Wan Mortgage Corporation 1,000,000 205% N/A 10/30/13 205% 1,000,000 1,000,560 Bank of NY Mellon 0
Federal Home Wan Mortgage Corporation 1,0W,000 200% N/A 11/27/13 2.00% 1,000,000 994,570 Bank of NY Mellon
Federal Home Wm Bank 1,000,000 0,75% N/A 11/29/13 075% 1,000,000 970,130 Bank ofNY Mellon 973,160
Federal National Mortgage Association 4,000000 1,03% N/A 01/30/14 1.03% 4,000,000 3.89Q920 Bank of NY Mellon 3908,800
Federal National Mortgage Association 7000000 200% N/A 01/30/14 200% [000,000 998,670 Bank of NY Mellon 0
Federal Home Wan Mortgage Corporation 2,ON,000 1.125% N/A 02/24/14 1,125% 2,000000 1981,340 Bank of NY Mellon 1993680
Federal National Mortgage Association 1,000,000 200% N/A 02/28/14 2.00% I,OO ,000 993,520 Bank ofNY Mellon
Federal National Mortgage Association 2,000,000 1.10% N/A 03,92/14 110% 2,000,000 1,928,750 Bank of NY Mellon 1961,160
Federal Home Wan Mortgage Corporation 2,OO ,000 120% NIA 03/20/14 120% 2,00 ,000 1,943,500 Bank of NY Mellon 1952880
Federal Home Wan Mortgage Corporation 2,OO ,000 1.15% N/A 04/25/14 1.13% 2,000000 1942,740 BenkofNYMellon 1952,860
Federal National Mortgage Association 2,000,000 1,03% N/A 05/21/14 103% 2,000,000 1929.300 Bank of NY Mellon 1937,240
Federal Home Loan Bank 1000.000 0.80% N/A 06/12/14 0.80% 1,000.000 970,830 Bank of NYMcUon 974,050
46.991,000
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
August 31, 2013
Par Coupon Maturity or Yield Adjusted Category (memo only) Prior Qlr.
vale Rate Rating Call Date to Maturiry Cost Basis Total Market Value Source Market Value
Medium Term Investments
(1 year to 3 years)
Corporate Notes
General Electric Capital Corporation 1,000,000 0.60% AI/AA+ 04/13/15 1.20% 1,000,000 999,700 Bank of NY Mellon 995080
1,000,000
Time Deposits
Ally Bank CD 200,000 1.15% N/A 7/27115 1.15% 200,000 200000 Bankof NYMellon 200,000
200,000
U.S.Gov't Agency Securities
0
Long Term Investment
(3 years to 5 years)
Time Deposits
GE Cap Retail Bank CD 200,000 1,35% N/A 7i20/16 1.35% 200,000 202.538 Bank of NY Mellon '_03,015
GE Cap Bank CD 200,000 1,35% N/A 7/20/16 1.35% 200,000 202,538 Bank ofNY Mellon 203,015
Goldman Sachs Bank CD 200,000 1.80% N/A 7/25/17 L80% 198,600 203,642 Bank of NY Mellon 204,530
Discover Bank CD 200,000 1.701/6 N/A 7126117 1.70% 200,000 202,875 Bank of NY Mellon 203,729
798,600
U.S.Govt Agency Securities
Financing Corporation(FICO) 500,000 9,80% N/A 04/06/18 9.80% 498,594 672,782 Bank of America 692,795
498,594
$ 104025,242 $ 103,131,134 $ 106,190,960
Total Invested Cash '
"Includes the following deposits of non-City funds: Principal Interest Total
Palm Springs Historical Society 250,000 925 250,925
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
August 31, 2013
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 104,025,242 $ 104,025,242
$ 104,025,242
Miscellaneous Accounts
Petty Cash 4,000 N/A N/A open None 4,000
Trust&Agency-Bank of America 784,592 N/A N/A open None 784,592
Downpayment Assistance(Housing
Fund)-Bank of America 33,816 0.05% N/A open 0.05% 33,816
Workers Compensation-Bank of America 5,935 N/A N/A open None 5,935
General Liability-Bank of America 30,000 N/A N/A open None 30,000
1930's General Store Museum-Bank of America 6,417 N/A N/A open None 6,417
On-Line Credit Card Fire Inspection Fees 112,370 N/A N/A open None 112,370
-Bank of America
On-Line Credit Card Transportation Permits 8,045 N/A N/A open None 8,045 985,175
-Bank of America
Total Cash Deposited $ 105,010,417
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
August 31, 2013
Par Coupon Yield Adjusted Category (memo only) Prior Cur
Value Rate Ratine Maturity to Maturity Cost Basis Total Market Value Source Market Value
2004/2012 Convention Center
Invesco Govemment&Agency Private 358,579 variable AAA open 0.01% 358,579 358,578 Bank of NY Mellon 358,566
Federal Home Loan Morgtgage Corporation 5,465,000 4,125% N/A 9/27/13 1.93% 5,867,848 5,479 810 Bank of NY Mellon 5,517,245
6,226,427
1991/01 Series B-Housing
Invesco Government&Agency Private 478,115 variable AAA open 0.02% 479,115 478,115 Bank of NY Mellon 742,452
478,115
1994/04 Series A&B/2007A,B,&C
Invesco Government&Agency Private 1,988,368 variable AAA open 0.01% 1,988,368 1.998,368 Bank of NY Mellon L26L394
Federal Home Loan Mortgage Corporation 965,000 4,125% N/A 9/27113 1,93% 1,036,134 967,615 Bank of NY Mellon 974,225
Federal Home Loan Mortgage Corporation 571.000 4.125% N/A 9/27/13 1,93% 613,091 572,547 Bank of NY Mellon 576,459
3,63Z593
1998 Airport PFC
Invesco Government&Agency Private 1,235,679 variable AAA open 0.01% 1,235,679 1.235,679 Bank of NY Mellon 1.351 927
235,679
2002 Parking Structure
Cash 3 3 3 Bank of NY Mellon 3
Invesco Government&Agency Private 2,207 variable AAA open 0.01% 2,207 2107 Bank of NY Mellon 2.127
2.210
2004 Assessment District 161
Invesco Government&Agency Private 399,197 variable AAA open 0.02% 399,197 399.197 Bank of NY Mellon 399.193
399,197
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
August 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 158,641 variable AAA open 0.02% 158.641 158,641 Bank of NY Mellon 158,635
158,641
2005 Assessment District 164
Invesco Government&Agency Private 559,674 variable AAA open 0.02% 559,674 559,674 Bank of NY Mellon 367,721
559,674
2006 Airport PFC
Invesco Government&Agency Private 1,185 983 variable AAA open 0.02% 1,185983 1,185 983 Bank of NY Mellon 2,746,277
1,185,993
2007 Refunding Lease Revenue Bonds
Cash 0 0 0 Bank of NY Mellon 0
Invesco Government&Agency Private 1 variable AAA open 0.01% 1 1 Bank of NY Mellon 1
1
2008 Airport PFC Refunding
Invesco Government&Agency Private 32,027 variable AAA open 0.02% 32,027 32,027 Bank of NY Mellon 32.027
Federal Home Loan Mortgage Corporation 603,000 4.125% N/A 9/27/13 1.93% 647,450 604.634 Bank of NY Mellon 608,765
679,477
Reserve for 2012 Downtown Revitalization Lease Revenue Bond
Invesco Government&Agency Private 3,189,094 variable AAA open 0.01% 3,189,094 3,189 094 Bank of NY Mellon 3A 88,985
3,189,094
Chevron/CoGen Lease Proceeds
Cash 14,717,283 14,717,283 14,717,283 Deutsche Bank 0
14,717,283
Funds With Century Golf 768,553 769553 768,553 Century Golf 1,115 806
768,553
Totals 33,237,926 32,698,009 $ $19,401,798
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
August 31, 2013
Allowable Percentages
By Maturity: Minimum"aximum Current Mo.
1 day to 365 days $8,000,000 N/A $101,528,048
1 year to 3 years 0.00% 50.00% 1.15%
3 years to 5 years 0.00% 30.00% 1.25%
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% 0.96%
Corporate Notes N/A 20.00% 0.96%
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% 45.65%
U.S. Treasury Notes/Bonds N/A N/A 0.00%
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