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Home My WebLink About7/3/2013 - STAFF REPORTS - 2.I. ?ALM sp4 iy c V N C °•Mes*co` P• City Council Staff Report DATE: July 3, 2013 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF MAY 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 May 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 $110,717,863 plus $22,085,610 in bond issue capital projects, reserve and debt service funds. The market value of the invested cash is $110,593,223. RECOMMENDATION: Receive and File Treasurer's Investment Report as of May 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.��dc� City Council Staff Report July 3, 2013 — Page 2 Treasurer's Investment Report as of May 31, 2013 The weighted average maturity (WAM) of the portfolio is 91.49 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 Ufa i Geoffrey S. K ehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS May 31, 2013 On Call Deposits AA' ust d Basis Category Total Percentage Checking Account $ 2,766,291 CalTrust ShortTerm 31,179,975 CalTrust MidTerm 28,186,630 State Pool 15,023 $ 62,147,919 56.13% Short Term Investments (1 year or less) U.S. Gov't Agencies 46,072,750 46,072,750 41.61% Medium Term Investments (1 year to 3 ears) Corporate Notes 1,000,000 Time Deposits 200,000 U.S. Gov't Agencies 0 1,200,000 1.08% Long Term Investments (3 year to 5 ears) Time Deposits 798,600 U.S. Gov't Agencies 498,594 1,297,194 1.17% $ 110,717,863 100.00% treasrep Ili 06/24/2013 O W I TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS May 31, 2013 Par Coupon Maturity or Yield Adjusled Category (memo only) Prior Qtr. Value Rate Rating Call Date tnt�tv Con Ras ic TOW Market Value Source Market Val On Call Deposits Checking-Bank of America $ NIA NIA AAA open None 2,766,291 $ 2,766,291 Bank of America 4,472.390 CalTmst Shorfrennt N/A N/A open 0.29% 31,179,975 31,181,380 CalTrust 22,169,999 CalTrust MidTerm N/A N/A open 0.56% 28,186,630 28.122,741 CalTnot 18.148.193 Local Agency Invest Fund(LAIF) 15,023 variable NIA open 0.245% 15,023 15.038 LAIF 15.027 62,147,919 Short Term Investments (l year or less) U.S.Gov't Agency Securities Federal Farm Credit Bank 11000,000 0.80% N/A 1023112 0.80% 0 0 Bank of NY Mellon 1.000,050 Federal Farm Credit Bank 11000,000 0.90% NIA 11115/12 0.90% 0 0 Bank of NY Mellon 999,870 Federal Farm Credit Bank 1.000,000 0.85% N/A 1 V15/12 0.85% 999,000 996,570 Bank of NY Mellon 1,000,060 Federal Farm Credit Bank 2,000,000 0.92% N/A 12105/l2 0.92% 0 0 Bank of NY Mellon 1,997,980 Federal Home Loan Bank 2,000.000 1.00% NIA 12/18/12 L00% 1,999,000 1.983,500 Bank of NY Mellon 1,998,400 Federal Home Loan Mortgage Corporation 2,000,000 1,03% N/A 02/28/13 1.03% 0 0 Bank of NY Mellon 0 Federal Home Loan Bank 2,000,000 1.10% N/A 03/01/13 1.10% 0 0 Bank of NY Mellon 1.999.520 Federal National Mortgage Association 2,000,000 L10% N/A 03/201l3 1.l0% 0 0 Bank of NY Mellon 0 Federal Home Loan Bank 2,000,000 1,250% N/A 03/22/13 1.250% 0 0 Bank of NY Mellon 2,001,140 Federal National Mortgage Association 2,000,000 1.125% N/A 03/28/13 1.125% 0 0 Bank of NY Mellon 0 Federal National Mortgage Association 1,000,000 2.50% N/A 04/18/l3 2.50% 0 0 Bank of NY Mellon 1,001.120 Federal Farm Credit Bank 2,000,000 1.12% N/A 05120/l3 1.12% 2,000,000 1,990,040 Bank of NY Mellon 2,001,640 Federal National Mortgage Association 21000,000 1.00% N/A 06/06/13 1.00% 2,000,000 2,000,100 Bank of NY Mellon 2,001,960 Federal National Mortgage Association 2,000,000 1.00% NIA 06/07/13 1.00% 2,000,000 2,000,060 Bank of NY Mellon 2,003,500 Federal Home Loan Mortgage Corporation 5,000,000 2.00% N/A 07/07/l3 2.00% 5,079,750 5,011,100 Bank of NY Mellon 5,029,100 Federal Home Loan Mortgage Corporation 1,000,000 1.00% N/A 07/1 l/l3 1.00% L000,000 989,590 Bank of NY Mellon 997,010 Federal Home Loan Mortgage Corporation 2,000,000 1.05% NIA 07/l6113 1.05% 2,600,000 1,985,200 Bank of NY Mellon 1,999,860 Federal Home Loan Bank 1,000,000 1.00% NIA 07130/l3 1.00% 1,000,000 991,510 Bank of NY Mellon 998.640 Federal Home Loan Bank 1,000,000 0.45% N/A 08/09/13 0.45% 110001000 995.730 Bank of NY Mellon 0 Federal Home Loan Bank 11000,000 1.05% NIA 08/12113 1.05% 1,000.000 992,730 Bank of NY Mellon I,W0,000 Federal Farm Credit Bank 2,000,000 0.98% NIA 08/15/13 0.98% 1,997,000 1,996,900 Bank of NY Mellon 2,005,240 Federal National Mortgage Association 1,000,000 1.00% NIA 08/28/13 1.00% 998,000 996,060 Bank of NY Mellon 1,002,400 Federal National Mortgage Association 2,000,000 1.10% NIA 08/28113 1.10% 2,000,000 1.998.750 Bank of NY Mellon 2,006.040 Federal Home Loan Mortgage Corporation 2,000,000 1.00% NIA 09/20A3 1,00% 2,000,000 1,997,940 Bank of NY Mellon 2,003,100 Federal Home Loan Mortgage Corporation 2,000,000 1.04% NIA 09/27/13 1.04% 2,000,000 1,988,300 Bank of NY Mellon 2,003,460 Federal National Mortgage Association 2,000,000 L07% NIA 09127/13 1.07% 2,000,000 1,995.280 Bank of NY Mellon 2,006,720 Federal Home Loan Bank 1,000,000 0.75% N/A 11/29/13 0.75% 1,000,000 990,020 Bank of NY Mellon 0 Federal National Mortgage Association 4,000,000 1.03% NIA 01/30/14 1.03% 4,000,000 3,971,720 Bank of NY Mellon 3,999,760 Federal Home Loan Mortgage Corporation 2,OO ,000 1 125% NIA 02/24/14 L.125% 2,000,000 2,002,100 Bank of NY Mellon 2,009,520 Federal National Mortgage Association 2,000,000 1.10% N/A 03/12/14 1.10% 2,000,000 1,995,760 Bank of NY Mellon 2,009.140 Federal Home Loan Mortgage Corporation 2,000,000 1.20% NIA 03/20114 1.20% 2,000,000 1,981,440 Bank of NY Mellon 1,996,250 Federal Home Loan Mortgage Corporation 2,OO ,000 1.15% N/A W125114 1.15% 2,000,000 1,982.740 Bank of NY Mellon 0 Federal National Mortgage Association 2,000,000 1.03% N/A 05/21/14 1.03% 2,000,000 1,973,438 Bank of NY Mellon 0 46,072,750 ueasrep 4Z;6 05/242013 TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS May 31, 2013 Par Coupon Maturity or Yield Adjusted Category (memo only) Prior Qtr. Yahte Ralc Rating Cal( to M.turiry cost Bac'c Tnr.l Market Value $nyrcr Market VAue Medium Term Investments (I year to 3 years) Corporate Notes General Electric Capital Corporation 1,000,000 1.20% Al/AA+ 04/13/15 1.20% 1,000,000 994,870 Bank of NY Mellon 995,040 1,000,000 j Time Deposits Ally Bank CD 200,000 1,15% N/A 7/27/15 1.15% 200,000 200,000 Bank of NY Mellon 20Q000 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 7/20/16 1.35% 200,000 203,970 Bank of NY Mellon 204,986 GE Cap Bank CD 200,000 1.35% N/A 7120116 1.35% 200,000 203,970 Bank of NY Mellon 204,986 Goldman Sachs Bank CD 200,000 1.80% N/A 7125/17 1.80% 198,600 206,689 Bank of NY Mellon 209,646 Discover Bank CD 200,000 1.70% N/A 7/26/17 1.70% 200,000 205,870 Bank of NY Mellon 207,790 798,600 U.S.Gov't Agency Securities Financing Corporation(FICO) 500,000 9.80% N/A 04/06/18 9.80% 498,594 695,825 Bank of America 709,910 498,594 $ 110,717,863 $ 110,593,223 $ 96,608,446 Total Invested Cash 'Includes the following deposits of non-City funds: Principal Interest Total Palm Springs Historical Society 250,000 710 250,710 treasrep 06/24/2013 0f TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS May 31, 2013 Yield Adjusted Par Value Co mn gating Matudlvy to Maturm Cost Bacis Category Total Total Invested Cash $ 110,717,863 $ 110,717,863 $ 110,717,863 Miscellaneous Accounts Petry Cash 4,000 N/A N/A open None 4,000 Trust &Agency - Bank of America 817,077 N/A N/A open None 817,077 Downpayment Assistance (Housing Fund) - Bank of America 33,811 0.05% N/A open 0.05% 33,811 Workers Compensation- Bank of America 9,592 N/A N/A open None 9,592 General Liability - Bank of America 30,000 N/A N/A open None 30,000 1930's General Store Museum- Bank of America 7,147 N/A N/A open None 7,147 On-Line Credit Card Fire Inspection Fees 87,038 N/A N/A open None 87,038 -Bank of America On-Line Credit Card Transportation Permits 7,925 N/A N/A open None 7,925 996,590 -Bank of America Total Cash Deposited $ 111,714,453 treasrep 06/24/2013 O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS May 31, 2013 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rating Maturity to Maturity Cost Basic Total Market Source Market Value 2004/2012 Convention Center Invesco Government&Agency Private 245,835 variable AAA open 0.01% 245,835 245,834 Bank of NY Mellon 245,840 Cash 112,728 112,728 112,728 Bank of NY Mellon 112,720 Federal Home Loan Morgtgage Corporation 5,465,000 4.125% N/A 9/27113 1.93% 5,867,848 5,534,952 Bank of NY Mellon 5,573,152 6,226,411 1991/01 Series B-Housing Invesco Government&Agency Private 742,439 variable AAA open 0.02% 742,439 742,439 Bank of NY Mellon 742.414 742,439 1994/04 Series A&B/2007A,B,&C Invesco Government&Agency Private 1,261,379 variable AAA open 0.01% 1,261,379 1,261,379 Bank of NY Mellon 1,261,344 Federal Home Loan Mortgage Corporation 965,000 4.125% N/A 9/27/13 1.93% 1,036,134 977,352 Bank of NY Mellon 984,097 Federal Home Loan Mortgage Corporation 571,000 4.125% N/A 9127/13 1.93% 613,091 578,309 Bank of NY Mellon 582,300 2,910,604 1998 Airport PFC Invesco Government&Agency Private 1,281,711 variable AAA open 0.01% 1,281,711 1,281,711 Bank of NY Mellon 1,103,589 Cash 0 0 0 Bank of NY Mellon 37,701 1,281,711 2001 Assessment District 157/158 Invesco Government&Agency Private 1 variable AAA open 0.00% 1 1 Bank of NY Mellon 1 1 2002 Parking Structure Cash _ 3 3 3 Bank of NY Mellon 336 Invesco Government&Agency Private 15 variable AAA open 0.01% 15 15 Bank of NY Mellon 2,461 18 2004 Assessment District 161 Invesco Government&Agency Private 399,176 variable AAA open 0.02% 399,176 399,176 Bank of NY Mellon 399,163 399,176 treasrep 06124/2013 O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS May 31, 2013 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Valli Rafe Rating Maturity to Maturity Cost Racic Total Market Value Source Market Value 2004 Assessment District 162 Invesco Government&Agency Private 158,633 variable AAA open 0.02% 158,633 158,633 Bank of NY Mellon 158,628 158,633 2005 Assessment District 164 Invesco Goverment&Agency Private 367,714 variable AAA open 0.02% 367,714 367,714 Bank of NY Mellon 367,702 367,714 2006 Airport PFC Invesco Government&Agency Private 2,617,252 variable AAA open 0.02% 2,617,252 2,617,252 Bank of NY Mellon 1,529.821 Cash 0 0 0 Bank of NY Mellon 128,994 2,617,252 2007 Refunding Lease Revenue Bonds Cash 0 0 0 Bank of NY Mellon 1,418,350 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 9l27113 1,93% 647,450 610,718 Bank of NY Mellon 614,933 679,477 Reserve for 2012 Downtown Revitalization Lease Revenue Bond Invesco Government&Agency Private 5,304,935 variable AAA open 0.01% 5,304,935 5,304,935 Bank of NY Mellon 3,188,823 5,304,935 Funds With Century Golf 1,397,238 1,397,238 1.397,238 Century Golf 1,296,620 1,397,238 Totals 22,085,610 21,622,417 $ $19,781,017 treasrep 06/24/2013 O 00 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS May 31, 2013 Allowable Percentages By Maturity: Minimum YIaximum Current Mo. 1 day to 365 days $8,000,000 N/A $108,220,669 1 year to 3 years 0.00% 50.00% 1.08% 3 years to 5 years 0.00% 30.00% 1.17% 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% 0.90% Corporate Notes N/A 20.00% 0.90% 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% 42.06% U.S. Treasury Notes/Bonds N/A N/A 0.00% treasrep 06/24/2013 O II CIO