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Home My WebLink About6/5/2013 - STAFF REPORTS - 2.L. ppLM$a Z W V N ♦ k C�A0QATtV eel 'C40FO04% City Council Staff Report DATE: June 5, 2013 CONSENT CALENDAR SUBJECT: TREASURER'S INVESTMENT REPORT AS OF APRIL 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 April 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 $99,775,832 plus $21,223,232 in bond issue capital projects, reserve and debt service funds. The market value of the invested cash is $100,060,041. RECOMMENDATION: Receive and File Treasurer's Investment Report as of April 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. !TEV NO. a'� City Council Staff Report June 5, 2013 — Page 2 Treasurer's Investment Report as of April 30, 2013 The weighted average maturity (WAM) of the portfolio is 89.95 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. Xiehl, Director of Finance and Treasurer Attachments: Treasurer's Investment Report 02 CITY OF PALM SPRINGS TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS April 30, 2013 On Call Deposits Adjusted Basis Category Total Percentage Checking Account $ 6,846,862 CalTrust ShortTerm 26,169,703 CalTrust MidTerm 18,176,550 State Pool 15,023 $ 51,208,138 51.32% Short Term Investments (1 year or less) U.S. Gov't Agencies 46,070,500 46,070,500 46.17% 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 1.20% Long Term Investments (3 year to 5 years) Time Deposits 798,600 U.S. Gov't Agencies 498,594 1,297,194 1.30% $ 99,775,832 100.00% treasrep 05/21/2013 O W TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS April 30, 2013 Par Coupon Maturity or Yield Adjusted Category (memo only) Prior Qtr. Value Rate Ratlpg Calms to Maturity Cost Bae'c T0lai 1 Market Value Sours Market Value On Call Deposits Checking-Bank of America $ N/A N/A AAA open None 6,846,862 $ 6,846,862 Bank of America 4.472.390 CalTrust ShonTerm" N/A N/A open 0.31% 26,169,703 26,175,912 Caffrust 22,169,999 CalTrust MidTerm N/A N/A open 0.67% 18,176,550 18,176,602 CalTrust 18,148,193 Local Agency Invest Fund(LAIF) 15,023 variable N/A open 0.264% 15,023 15,038 LAIF 15,027 51,208,138 Shorty Term Investments (1 ear or less) U.S.Gov't Agency Securities Federal Farm Credit Bank 1,000,(100 0.80% N/A 10/23/12 0.80% 998,750 1,000,030 Bank of NY Mellon 1.000.050 Federal Farm Credit Bank 1,000,000 0.90% N/A 11/15/12 0.90% 999,000 1,000,090 Bank of NY Mellon 999,870 Federal Farm Credit Bank 1,000,000 0.85% N/A 11/15/12 0.85% 999,000 1,000,080 Bank of NY Mellon 1,000.060 Federal Farm Credit Bank 2,000,000 0.92% N/A 12/05/12 0.92% 0 0 Bank of NY Mellon 1,997,980 Federal Home Loan Bank 2,000,000 1,00% N/A 12/18/12 1.00% 11999,000 2,000,200 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% 2,000,000 2,000,000 Bank of NY Mellon 1,999,520 Federal National Mortgage Association 2,000,000 1,10% N/A 03/20/13 1.10% 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 04/18/13 2.50% 0 0 Bank of NY Mellon 1,001,120 Federal Farm Credit Bank 2,000,000 1.12% N/A 05/20/13 1.12% 2,000,000 2,001,040 Bank of NY Mellon 2,001,640 Federal National Mortgage Association 2,000,000 1.00% N/A 06/06/13 1.00% 2,000,000 2,001,160 Bank of NY Mellon 2,001,960 Federal National Mortgage Association 2,000,000 LOOS, N/A 06/07/13 1.00% 2,000,000 2,000,720 Bank of NY Mellon 2,003.500 Federal Home Loan Mortgage Corporation 5,000,000 2.00% N/A 07/07/13 2.00% 5,079,750 5,020,850 Bank of NY Mellon 5.029,100 Federal Home Loan Mortgage Corporation 11000,000 1.00% N/A 07/11/13 1.00% 1,000,000 1,000,930 Bank of NY Mellon 997,010 Federal Home Loan Mortgage Corporation 2,000,000 1.05% N/A 07/16/13 1,05% 2,000,000 2,002,620 Bank of NY Mellon 1,999,860 Federal Home Loan Bank L000,000 L00% N/A 07/30/13 1.00% L000.000 1,001,520 Bank of NY Mellon 998,640 Federal Home Loan Bank 1,000,000 1,05% N/A 08/12/13 1.05% 1,000,000 1.001,940 Bank of NY Mellon 1,(100,000 Federal Farm Credit Bank 2,000,000 0.98% N/A 08/15/13 0.98% 11997,000 2,005,380 Bank of NY Mellon 2,005,240 Federal National Mortgage Association 1,000,000 1,00% N/A 08/28/13 1.00% 998,000 1,002,700 Bank of NY Mellon 1.002,400 Federal National Mortgage Association 2,000,000 1.10% N/A 08/28/13 1.10% 2,000,000 2,006,250 Bank of NY Mellon 2,006,040 Federal Home Loan Mortgage Corporation 2,000,000 1.00% N/A 09/20/13 1.00% 2,000,000 2,004,940 Bank of NY Mellon 2,003,100 Federal Home Loan Mortgage Corporation 2,000,000 1.04% N/A 09/27/13 1.04% 2,000.000 2,005,280 Bank of NY Mellon 2,003,460 Federal National Mortgage Association 2,000,000 1.07% N/A 09/27/13 1.07% 2,000,000 2,006,500 Bank of NY Mellon 2,006,720 Federal National Mortgage Association 4,000,000 1.03% N/A 01/30/14 1.03% 4,000,000 4,015,680 Bank of NY Mellon 3,999,760 Federal Home Loan Mortgage Corporation 2,000,000 1.125% N/A 02/24/14 1.125% 2,000,000 2,010,800 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 2.011,080 Bank of NY Mellon 2,009,140 Federal Home Loan Mortgage Corporation 2,000,000 1.20% N/A 03/20/14 1.20% 2,000,000 2,003,880 Bank of NY Mellon 1.996,250 Federal Home Loan Mortgage Corporation 2,000,000 1.15% N/A 04/25/14 1.15% 2,000,000 2,008,160 Bank of NY Mellon 0 46,070,500 treasrep 0 05121//2013 r{1 TREASURER'S MONTHLY REPORT DETAIL OF INVESTMENTS April 30, 2013 Par Coupon Maturity or Yield Adjusted Category (memo only) Prior Qtr. Value Rate Rating CAI Date to Ma r4ty Cost Basis Toffy( Market Value sours Market Yalu Medium Term Investments ( 1 year to 3 years) Corporate Notes General Electric Capital Corporation 1,000,000 1.20% AI/AA+ 04/13/15 1.20% 1,000.000 994,630 Bank of NY Mellon 995,040 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 200,000 200,000 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% 200,000 205,545 Bank of NY Mellon 204,986 GE Cap Bank CD 200,000 1.35% N/A 7/20/16 1.35% 200,000 205,545 Bank of NY Mellon 204,986 Goldman Sachs Bank CD 200,000 1.80% N/A 7/25/17 1.80% 198,600 209,521 Bank of NY Mellon 208,646 Discover Bank CD 200,000 1.70% N/A 7/26/17 1.70% 200,000 20801 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% 498,594 709,875 Bank of America 709,910 498,594 $ 99,775,832 $ 100,060,041 $ 98,982,919 Total Invested Cash *Includes the following deposits of non City funds: Principal Interest Total Palm Springs Historical Society 250,000 649 250,649 treasrep 05/21/2013 CA TREASURER'S MONTHLY REPORT MISCELLANEOUS AND TRUST ACCOUNTS April 30, 2013 Yield Adjusted Par Value Ccnilion Ratiag Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 99,775,832 $ 99,775,832 $ 99,775,832 Miscellaneous Accounts Petty Cash 4,000 N/A N/A open None 4,000 Trust &Agency- Bank of America 863,807 N/A N/A open None 863,807 Downpayment Assistance (Housing Fund) -JP Morgan Chase 33,810 0.10% N/A open 0.15% 33,810 Workers Compensation- Bank of America 70,019 N/A N/A open None 70,019 General Liability - Bank of America 30,000 N/A N/A open None 30,000 1930's General Store Museum - Bank of America 4,232 N/A N/A open None 4,232 On-Line Credit Card Fire Inspection Fees 75,189 N/A N/A open None 75,189 -Bank of America On-Line Credit Card Transportation Permits 7,721 N/A N/A open None 7,721 1,088,778 -Bank of America Total Cash Deposited $ 100,864,610 treasrep 05/21/2013 O O� TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS April 30, 2013 Par Coupon Yield Adjusted Category (memo only) Prior Qtr. Valne Rate Rating Maturity to Maturity (lost Basis Thal Market Valne Score Market Val e 2004/2012 Convention Center Invesco Government&Agency Private 245,841 variable AAA open 0.01% 245,841 245,840 Bank of NY Mellon 245,840 Cash 1,965,455 1,965,455 1,965,455 Bank of NY Mellon 112,720 Federal Home Loan Morgtgage Corporation 5,465,000 4.125% N/A 9/27/13 1.93% 5,867,848 5,554,407 Bank of NY Mellon 5,573,152 8,079,144 1991/01 Series B-Housing Invesco Government&Agency Private 742,427 variable AAA open 0.02% 742,427 742,427 Bank of NY Mellon 742,414 742,427 1994/04 Series A&B/2007A,B,&C Invesco Government&Agency Private 1,261,364 variable AAA open 0.01% 1,261,364 1,261,364 Bank of NY Mellon 1,261,344 Federal Home Loan Mortgage Corporation 965,000 4.125% N/A 9/27/13 1.93% 1,036,134 980,787 Bank of NY Mellon 984,097 Federal Home Loan Mortgage Corporation 571,000 4.125% N/A 9/27/13 1.93% 613,091 590,342 Bank of NY Mellon 582,300 2,910,589 1998 Airport PFC Invesco Government&Agency Private 1,463,514 variable AAA open 0.01% 1,463,514 1,463,514 Bank of NY Mellon 1,103,589 Cash 0 0 0 Bank of NY Mellon 37,701 1,463,514 2001 Assessment District 157/158 Invesco Government&Agency Private 0 variable AAA open 0.00% 0 0 Bank of NY Mellon t 0 2002 Parking Structure Cash 3 3 3 Bank of NY Mellon 336 Invesco Government&Agency Private 2,390 variable AAA open 0.01% 2,390 2,390 Bank of NY Mellon 2,461 2,394 2004 Assessment District 161 Invesco Government&Agency Private 399,170 variable AAA open 0.02% 399,170 399,170 Bank of NY Mellon 399,163 399,170 treasrep 05/21/2013 O TREASURER'S MONTHLY REPORT BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS April 30, 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 158,630 variable AAA open 0.02% 158,630 158,630 Bank of NY Mellon 158,628 158,630 2005 Assessment District 164 Invesco Government&Agency Private 367,708 variable AAA open 0.02% 367,708 367,708 Bank of NY Mellon 367,702 367,708 2006 Airport PFC Invesco Government&Agency Private 1,787,829 variable AAA open 0.02% 1,787,829 1,787,829 Bank of NY Mellon 1,529,821 Cash 0 0 0 Bank of NY Mellon 128,994 1,787,829 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 I 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% 647,450 612,865 Bank of NY Mellon 614,933 679,477 Reserve for 2012 Downtown Revitalization Lease Revenue Bond Invesco Government&Agency Private 3,188,877 variable AAA open 0.01% 3,188,877 3,188,877 Bank of NY Mellon 3,188,823 3,188,877 Funds With Century Golf 1,439,049 1,439,049 1,439,049 Century Golf 1,296,620 1,439,049 Totals 21,218,809 20,782,686 $ $19,781,017 treasrep 05/21/2013 O 00 TREASURER'S MONTHLY REPORT CALCULATION OF INVESTMENT LIMITATIONS April 30, 2013 Allowable Percentages By Maturity: Minimum Vlaximum Current Mo. 1 day to 365 days $8,000,000 N/A $97,278,638 1 year to 3 years 0.00% 50.00% 1.20% 3 years to 5 years 0.00% 30.00% 1.30% 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% 1.00% Corporate Notes N/A 20.00% 1.00% 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% 46.67% U.S. Treasury Notes/Bonds N/A N/A 0.00% treasrep 05/21/2013 Co W