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4<IFORN� City Council Staff Report
DATE: February 6, 2013 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
DECEMBER 31, 2012
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 December 31, 2012. 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
$85,722,953 plus $16,693,449 in bond issue capital projects, reserve and debt
service funds. The market value of the invested cash is $86,005,580.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of December 31, 2012.
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 with one
exception: the FICO notes ($500,000, 4/16/18, 9.8%) exceed the 5 year
limitation on maturities (Detail of Investments, Long Term Investments, U.S.
Govt. Agency Securities). The investment in question was purchased prior to the
adoption of the 5-year limitation. Since it appears to represent no additional risk
either because of credit-worthiness or liquidity, earlier councils decided to allow it
to be retained in the investment pool because the yield is higher than attainable
ITEM NO.
City Council Staff Report
February 6, 2013 — Page 2
Treasurer's Investment Report as of December 31, 2012
under current market conditions. We recommend that this exception to the
policy be continued.
The weighted average maturity (WAM) of the portfolio is 110.38 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
Geoffre Gehl, Director of Finance and Treasurer
Attachments: Treasurers Investment Report
02
treasrep CITY OF PALM SPRINGS
1/22/2013 TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
December 31, 2012
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 1,874,963
CalTrast ShortTerm 27,137,712
CalTrust Mufferm 18,130,084
State Pool 15,000 $ 47,157,759 55,01%
Short Term Investments
(1 year or less)
U.S.Gov't Agencies 32.068,000 32,068,000 37,41%
Medium Tenn Investments
(1 year to 3 ears)
Corporate Notes 1,000,000
Time Deposits 200,000
U.S.Gov't Agencies 4,000,000 5,200,000 6.07%
Lang Tenn Investments
(3 ear to 5 ears)
Time Deposits 798,600
U.S.Gov't Agencies 498,594 1,297,194 1.51%
$ 85,722,953 100.00%
*Some investments made prior to the implementation of the
O current Investment Policy exceed the 5 year limit
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December 31,2012
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TREASURER'S MONTHLY REPORT
treastep MISCELLANEOUS AND TRUST ACCOUNTS
01/22/2013 December 31, 2012
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 85,722,953 $ 85,722,953
$ 85722.953
Miscellancoue Accounts
Petty Cash 4,000 N/A N/A open Now 4,000
Trust&Agency-Bank of America 981,017 N/A N/A open Noce 981,017
Downpaynn m Assistance(Housing
Fund)-JP Morgan Chase 33,798 0.10% N/A open 0,15% 33,798
Workers Compensation-Bank of America 11,566 N/A N/A open Noce 11,566
General Liability-Bank of America 30.000 N/A N/A open Noce 30,000
1930's General Store Museum-Bank of America 6,592 N/A N/A open None 6,592
On-Lire Credit Card Fire Inspection Fees 37,398 N/A N/A open None 37,398
-Bank of America
On-Live Credit Card Transportation Permits 5,834 N/A N/A open Noce 5,834 1.110.206
-Bank of America
Total Cash Deposited $ 86.833,159
TREASURER'S MONTHLY REPORT
wr¢P BOND ISSUE RESERVE,DEBT SERVICE&RELATED FUNDS
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TREASURER'S MONTHLY REPORT
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
December 31, 2012
treasrep
O1/22/13
Allowable Percentages
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days $8,000,000 N A $79,225,759
1 year to 3 years 0.00% 50.00% 6.07%
3 years to 5 years 0.00% 30.00% 0.93%
over 5 years N/A N/A 0.58%
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% 1.16%
Corporate Notes N/A 20.00% 1.17%
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% 42.66%
U.S. Treasury Notes/Bonds N/A N/A 0.00%
0
Calculation of Weighted Avg Maturity
Mature Current No.of Days X Cost
Date Date Days
41,274
41,275 41,274 1 1,87063
41,275 41,274 1 27,137,712
41,275 41,274 1 18.130,084
41,275 41,274 1 15,000
41,199 41,274 -75 0
41,201 41,274 -73 0
41,205 41,274 -69 -68,913,750
41,206 41,274 -68 0
41 228 41,274 46 45,954,000
41,228 41,274 A6 45,954,000
41,236 41,274 -38 0
41,236 41,274 -38 0
41,240 41,274 -34 0
41,241 41,274 -33 0
41,248 41,274 -26 -51,961,000
41,261 41,274 -13 -25,987.000
41,333 41,274 59 117,941,000
41,361 41,274 87 174,000,000
41,382 41,274 108 108,000.000
41,431 41,274 157 314,000,000
41,432 41,274 158 316,000,000
4t.462 41,274 188 954,993,000
41,501 41,274 227 453.319,000
41,514 41,274 240 239,520,000
41,514 41,274 240 490,000,000
41,537 41274 263 526,000,000
41,544 41,274 270 540.000,000
41,544 41,274 270 540,000,000
42,107 41,274 833 833,000,000
42,212 41,274 938 187,600,000
41,694 41,274 420 840,000,000
41,718 41,274 444 888,000,000
42,571 41,274 1,297 259,400,000
42,571 41,274 1,297 259,400.000
42,941 41,274 1,667 331,066,200
42,942 41,274 1,668 333,600,000
43,196 41,274 1,922 958,297,668
9,462,524,877
Total lnvesnnents at Cost 85,722,953 1 O
WAM in Days 110.38