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cA`'F°01',91 City Council Staff Report
DATE: January 16, 2013 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
NOVEMBER 30, 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 November 30, 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
$81,739,344 plus $17,321,906 in bond issue capital projects, reserve and debt
service funds. The market value of the invested cash is $82,087,473.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of November 30, 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.---{F G�_
City Council Staff Report
January 16, 2013 — Page 2
Treasurer's Investment Report as of November 30, 2012
under current market conditions. We recommend that this exception to the
policy be continued.
The weighted average maturity (WAM) of the portfolio is 130.34 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. 1,6ehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
treasrep CITY OF PALM SPRINGS
12/31/2012 TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
November 30, 2012
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 2,910,530
CalTrust ShortTerm 22,131,572
CalTrust MidTerm 18,117,038
State Pool 15,000 $ 43,174,140 52.82%
Short Term Investments
(I year or less)
U.S. Gov't Agencies 32,068,000 32,068,000 39.23%
Medium Term Investments
(1 year to 3 years)
Corporate Notes 1,000,000
Time Deposits 200,000
U.S. Gov't Agencies 4,000,000 5,200,000 6.36%
Long Term Investments
(3 year to 5 years)
Time Deposits 798,600
U.S. Gov't Agencies 498,594 1,297,194 1.59%
$ 81,739,334 100.00%
*Some investments made prior to the implementation of the
O current Investment Policy exceed the 5 year limit
W
I-smp TREASURER'S MONTHLY REPORT
61I➢x112 DETAIL OF INVESTMENTS
November 30,2012
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I—P, TREASURER'S MONTHLY REPORT
Ivnrzuu DETAIL OF INVESTMENTS
November 30,2012
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V'
TREASURER'S MONTHLY REPORT
treasrep MISCELLANEOUS AND TRUST ACCOUNTS
12431/2012 November 30,2012
Yield Adjured
Par value Coupon Rating Maturity m Manor, Cost Basis Category Total
Total Invested Cash $ 81,739,334 $ 81;139,334
$ 81739334
Miscellaneous Accounts
Petry Cash 4,000 N/A N/A open None 4,000
Trust&Agency-Bank of America 954,588 N/A N/A open None 954,588
Dovmpayment Assistance(Housing
Fund)-3P Morgan Chase 33,796 0.10% N/A open 0.15% 33,796
Workers Compensation-Bank of America 8,830 N/A N/A open None 8,830
General Liability-Bank of America 30,000 N/A N/A open None 30000
1930's General Store Museum-Bank of America 6,651 N/A N/A open None Nb51
On-Line Credit Card Fire Inspection Pees 28,558 N/A N/A open None 28,558
-Bank afAmerica
On-Line CrMit Card Transportation Permits 5,753 N/A N/A open None 5753 1072,175
-Bank of America
Total Cash Deposited $ 82,81I 509
CD
CD
TREASURER'S MONTHLY REPORT
nln" BOND ISSUE RESERVE,DEBT SERVICE&RELATED FUNDS
1vn1rsplz November 30,2012
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Q
TREASURER'S MONTHLY REPORT
mmmp BOND ISSUE RESERVE,DEBT SERVICE&RELATED FUNDS
Iznvaoln November 30,2012
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0
OD
TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
November 30, 2012
treasrep
12/31/12
Allowable Percentages
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days $8,000,000 N/A 75,242,140
1 year to 3 years 0.00% 50.00% 6.36%
3 years to 5 years 0.00% 30.00% 0.98%
over 5 years N/A N/A 0.61%
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% 1.22%
Corporate Notes N/A 20.00% 1.22%
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% 44.74%
U.S. Treasury Notes/Bonds N/A N/A 0.00%
0
cO
Calculation of Weighted Avg Maturity
Mature Current No.of Days X Cost
Date Date Days
41,243
41244 41,243 1 2,910,530
41,244 41243 1 22,131 5I2
41.244 41,243 I I8,[17.038
41,244 41,243 1 15.000
41.199 41243 -04 0
41,201 41,243 42 0
41,205 41,243 -38 -37,952.500
41.,206 41,243 -37 0
41.228 41,243 A5 -14,985,000
41,228 41,243 -15 -14,985,000
41,236 41,243 -7 0
41,236 41.243 -7 0
41,240 41,243 -3 0
41,241 41,243 -2 0
41,248 41,243 5 9,992,500
41,261 41,243 18 35.982,000
41,333 41,243 90 179,910,000
41,361 41,243 118 236,000,000
41,382 41.243 139 139,000.000
41,431 41,243 188 376,000,000
41,432 41,243 189 378,000,000
41,462 41,243 219 1,112,465,250
41,501 41243 258 515226.000
41,514 41,243 271 270,458,000
41,514 41,243 271 542,000,000
41,537 41,243 294 588,000.000
41.544 41,243 301 602,OW,000
41,544 41,243 301 602,000,000
42,107 41,243 864 864,000,000
42,212 41,243 969 193,800,000
41,694 41,243 451 902,OW,000
41,718 41,243 475 950,000,000
42,571 41,243 1,328 265,600,000
42,571 41243 1,328 265,600,000
42,941 41243 1,698 337,222,8W
42,942 41,243 1,699 339,800,000
43,1% 41,243 1,953 973,754,082
10,654,062,272
Total Imemrents at Cost 81,739,334
WAM in Days 130.34
1. 0