HomeMy WebLinkAbout12/5/2012 - STAFF REPORTS - 2.E. A�pPLM Sp9
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Cq��FORN�p• City Council Staff Report
DATE: December 5, 2012 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
OCTOBER 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 October 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
$91,058,066 plus $20,091,251 in bond issue capital projects, reserve and debt
service funds. The market value of the invested cash is $91,388,270.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of October 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
(TEM NO.
City Council Staff Report
December 5, 2012 — Page 2
Treasurer's Investment Report as of October 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 130.88 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 iehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
treasrep CITY OF PALM SPRINGS
11/26/2012 TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
October 31, 2012
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account $ 3,259,624
CalTrust ShortTerm 27,113,841
CalTrust MidTerm 18,104,407
State Pool 15,000 $ 48,492,872 53.25%
Short Term Investments
(I year or less)
U.S.Gov't Agencies 36,068,000 36,068,000 39.61%
Medium Term Investments
(I year to 3 years)
Corporate Notes 1,000,000
Time Deposits 200,000
U.S.Gov't Agencies 4,000,000 5,200,000 5.71%
Long Term Investments
(3 year to 5 years)
Time Deposits 798,600
U.S.Govt Agencies 498,594 1,297,194 1.42%
$ 91,058,066 100.00%
*Some investments made prior to the implementation of the
current Investment Policy exceed the 5 year limit
03
Ima r,' TREASURER'S MONTHLY REPORT
11/2W2012 DETAIL OF INVESTMENTS
October 31,2012
Can", Manion,or Yield AdP1AM Imam..i Poor Qlr.
Par Valor Ralc Rating Ca11 Dam to Malone Cps,Basis C.,in'Total Mink"%loor So,— Makri l'alnc
On Ca11 Depoo.,
CLp]ting-Bark of America 5 NIA NIA AAA opml Nnna 4 1111'24 # JSS?LEJ B,nr,of Ar.-a 12J6,'lo,
CtlTms,SMrlTenO NIA N/A aeon p.An% 27.I11 841 21I14,1111, CalTma 21.111111
CalTN51 MIdFNm NIA N/A open 1192f% IR.I if 4111 1RI'll III CoITnrs1 IS I1.1,T9
Local Agnay Imes,FnM ILAIFI Is'noo ,amble N/A open 0 340°% IS Von 151,11, LAIF 15 nID
Je J929'2
SMII Telm MvslmeMs
1 I vuror less,
GmI A,.,Secnriom
Fafml National Mortgage Associalion 1,000000 IAs% N/A 10/17/12 161% Bank of NY Mallon lJoI1671i
FWamI NRo,Forn Cl Mongege Asmtialion 2.998750 1Woo, N/A 10/23/12 0kRJ% V p BeN of NY Mellon 1'1ULI8o
Federal Farm CrnM,Bmlk tRoo.. 17.% N/A 10/2J/12 17..G Y9g.93o Until ;U Ban of NY Mallon IAOILJJp
FMenl N..Co Mortgage Anacivtion irrrow 1no.% N/A 10/1JI12 RA% 11 Ban pI NY McII.I� 2➢pl xlp
FWeaal Balm CrtN,Ban 999Da. 19W°4 N/A 11/15I12 f950% 999p1m 1o.I'a Bnok.f Nl'Mellon I,on'allt
Faknl Pan.nalM n,aBann 99?000 15110. N/A 11/15/12 11.So.% loin of
I."l2a Bank of NY Mellon Ion083n
FNeal Nalrorel Mnngage Anmriono 1000. 0500% NIA 1112111E ISoa% 1➢po foil I!Ip0]2n Bank of NY Mellon I,on Wl1.11
Ptdtnl Neliolxl M.o,,.Apocia,ion Io00oW OSUn%% N/A I11111] RS.a% IoUUpUII IUIo (Ra Bank of NY Mello. Iion.I Rn
Federal Nelionol MaB,,o Araocl0lon Lo.no, Il400% N. 112W12 11,4.0%% IRoll."op"llool I.IIU"I", Bonk of NYM llonors Itoo,,I'll
40
PWml Nnliplml Modgago Assocalion LUWVIRI 11092% N/A I2l"12 UpoO% LI'W5III IM'1,1411 Ban of NY Mellon Ifal19411
FtderelNo "anCrocill
2,00001.1 092% N/A IYS/11 092% 1,99R3no 2.p11IHV Bank of NY Mellon 1,196 flU
Federal Home Loan Bank 2999.000 0110% N/A 1311811E I10 1.999011, IY913911 Baal of NY Mellon 1994.10
Federal
,,N-:N li Loan MoftppgagoA CaRoralinn 1999.p00 1111U% N/A pE2R/I1 1 iJ,% 2lon,r ll, 2nall I'll Bank of NY Mellon 2Upl,R611
..Nelialml M011 ,A:.5oriallan 2000.VII0 1.125%% N/A U118/11 250%% 10.0.111, 3,11111%0 Bmd ofNY 2.VIIr411,
Federal Nalimul Mortgage Associalion 1000000 25p'/. N/A OJ/18/O 15V'. IOOO pnu IV04lfio Bald of Nl'Mtllou 1.11 JJn
Fe ml Nalipml Mnnppge ASor,nolon 30W 0. Ile% N/A 116/06/11 1.11% 2.11onpnl 21n11 slot Bank of NY Worn IJ1n53111
Federal Nepoad Mo.,,,Anroartan SII ." 1o0% N/A oa1.1111 Iof% dO'aill'11 10IR.JIm Bank of NY Mellen 2,lon,JIRU
Pthml No—loan Mongege Colpoalion 5m0. 2(R.% NIA p2111711J 2,all% 5.019,7511 S.nolLlo. Banof Nl'Mtllml 51,65.I no
FWeal Fran Coadll Balk 1997.00(f 098% N/A pR/IS/IJ 098% 1.994anl 2.005.540 Bank of NY Mellen 2op9?fin
Frdeml Nmiowl Mo.,,Armdnlun 999 UW IDO% N/A 0828/I3 1If% 999anl LU111.@. Bank of NY Mclion lan1.581,
Federal Nalimlal Morlgsge Association 20mook 1.10% N/A p828/Il 1.10% 2000MO E007,940 Book of NY Mellon Iof?9211
PMclal Non.loan Mongngc C.,om,ion S2000n. I,P11% WA Mall, I,00% 211VOJ11111 I119,5RU Bank or NY Mellon 20011011
Palatal No.Urn Meat C.,om,iml SE,omow Ill% N/A 9/27/I1 105% 2,OO ono 1.9999(,0 Bank of NY Mellon 2,OOL 188
FWeul Naliomp Mongaga Association S2000P. 11)7% N/A 9/27111 10]% >_0Vp0110 21115)R. Bonk.1NY Mellon IaVG.2Jn
JG.U6RU11(I
Ira are, TREASURER'S MONTHLY REPORT
I112612012 DETAIL OF INVESTMENTS
October 31,2012
Coupon Mo..,o Yield Adjoined Olw On119 Prior Or
Par Wine Be" Rating Call Dale IO Moony Cost Basis Cavgo^'Total Markel Yal Sonra Market valua
MedionlTmn Im'utmens
f lvwnolvarsl
Corpornc Not.
General"o'Uto Capital Cosponsor Ionsoor0 1,Z.% AI/AA- 111/I l/IS 12.% L01N111110 111.1111 Bank of NY Mellon 992,ov,
I IIII11111111
Tinge Deposits
All,Sol CD lar.01111 1.15% N/A 7/27115 111% 200,0111 21111Jlon 2111,an"
2nitnnn
US Gov't Alto,Smuitic
Pedenl Holm Loan Mortgage Coryamlion 2lanarfro 111% N/A 14/N/H 1.125°% "Illarn00 2O118a2O Bank of NY Mello, 2.GO1,0on
Federal Nal'nmI Moral Auocbnlou 20W.oU1 I.1.% N/A 0I/20/I4 1100% 21I00in. 2.palklo Bank Of NY Mellon 2901 No
no"'non
Ign6 T<lm lnveitmenl
(Jvnnla5 fors)
Time Narita
OE Cap Retail Bank CD 200.0110 135% NIA 7MI/I6 1.15% Ink"no 2U55ID 206.Inn
GE Cap Balk CD 200000 115% N/A 540/10 115°% lanan11 205"o 21, goo
(OWnNn Sachs Bank CD ton 000 160% NIA 715/I7 I.go°% In ant) 2111541 210244
Divarer Bank CD 200,er. 170% N/A 2126/II Ito% 2110uall ",a In- 2n'12Y0
Intl 600
D.S.Gov'I Al Seaka.
Flwdr,CoryOtation 11,I001 5n00110 1,60°o N/A kCr6/I6 1at)% f-s"514 12i1r11 Bank of Anger I2>.161
11811J
S "I'llan", S 'I'll 1711 f 96,197l6[l
Toullmnted Cllp
Ul hide tk Following reports of non Cin'Bunds: Prircipal Inmrta Tonal
Palm SNrw Histatiol Saieh 250o1m 235 25k.215
0
TREASURER'S MONTHLY REPORT
treasrep MISCELLANEOUS AND TRUST ACCOUNTS
11/26/2012 October 31, 2012
Yield Adjusted
Par Value Coupon Rating Maturity, to Maturity Cost Basis Category Total
Total Invested Cash $ 91,058,066 S 91 058,066
S 91058,066
Miscellaneous Accounts
Petry Cash 4,000 N/A N/A open None 4000
Trust&Agency-Bank of America 955,061 N/A N/A open None 955061
Downpayment Assistance(Housing
Fund)-JP Morgan Chase 33,793 0_I0% N/A open 0J5% 31793
Workers Compensation-Bank ofAmerica 35,289 N/A N/A open None 35,289
General Liability-Bank of America 29,021 N/A N/A open None 29,021
1930's General Store Muaeum-Bank of America 3,926 WA N/A open None 3,926
On-Line Credit Card Fire Inspection Fees 19,922 N/A N/A open None 19,922
-Bank of America
On-Line Credit Card Transportation persons 5,222 N/A N/A open None 5,222 1086,234
-Bank of America
Total Cash Deposited S 92,144,300
O
07
TREASURER'S MONTHLY REPORT
Beek., BOND ISSUE RESERVE,DEBT SERVICE&RELATED FUNDS
un6no12 October 31,2012
Coupon Yield Adjualed Orcno aNyl Pnar Qnr
Par Valm Role Rating Mamnry in MalaN, Coll Basis Coe,—Tond Make,Value Sooce Mahu Value
20OV2012 Cianco ien Cwu
Im'esco Goo,woen@ Agway Peak, 4p18585 innable AAA open 0.01% 11,18.19, J.IIIX SXJ Bank of NY Mellon III Son
Federal Homo Loan MorgIlle Coryorallon 5,4650. 4.125% N/A 9I271I1 191% 5.862X48 5.658,J61 Bank of NY McI111 5.07,1711
90(.Jlt
1991/01 Series B-Horsing
Ini Gmemnw0l&AguuS Proem 479029 anoble AAA open no% 479029 41X029 Bonk of NY Mellon JX,III
Federal Heine Loan Bank 420.00l 41,21/ NIA 11,1111/12 1.IS% 0 0 Hi erNY Mallon 4211415
Ra29
1994/04 Scncs A&a
I,n esco Go%andenl@ Al Penale 97102 amble AAA open 1111E"% 'I1]n2 97702 Bank of NY Mellon Q III,
Federal Home loan MoroN,Corporzlion 965.OW 4.125% N/A 11211, 111% 1 11091 999.161 Bankof Nl'M[Ill. IIlkU0
Fedmlllome Loan Modgage Coryoreliau 57I 1HN1 J.125°/. NIA 9/E]/II I'll"L 411A41 591.E11 Bard of Nl'MeINn 591.IXa
1998 I.,soop PFC
UST in,Noenl@AgCIK)Plleale 4.2 3.1918000 a171%able AAA open511, 115% 1111XI l.122.IXl Bank of NY Mellon Jllxl`1
U.ATmasury Nolc 91 Ro00 IttSY° N/A 1/IS/li I55% 911.ItJ 92E.12E Bank of NY M[Ilon 921 094
U
E001 geep6111enI Di6111c11571158
Imreaco Govenmwul&ABuwy P—e 161.139 vndable AAA open 002% 161.119 I61111 Brad of NY Mellon M,I16
16],129
200E Parking Sln[lum
Cash I I I Ba:Aof NY Mellon 1
Inva.G.—rent&A,wv P.. 27. Iodine AAA opco 11119° 2,70a 2700 Bonk of NY Mellon 2141
2004 Aisas::Krn DlslaiN Ifil
In,1.GM'<nmK:n@Alva,Pana,c 8066E amble AAA ap[n 1111E% 80662 Nb.662 Bank of Nl'mdoa 8n 119,
Ka,Bald Naliowd Assonaliou.Ow Hoill. 4.50% NIA 12/2W12 1.809° I I e I'll InS611 Bank of ell Win. 10?1N11,
CR Ba:d,Sall"ke Ciry,Ulan 2.1M. 101% NIA IrzIn II IXt% 211,60t 206.41E Bank of Nl Mellon Ili,Sol
J0]374
TREASURER'S MONTHLY REPORT
possmp BOND ISSUE RESERVE,DEBT SERVICE&RELATED FUNDS
IW6/2012 October 31,2012
Cavan Yield AujmtN (neaa star) Poor Qlr.
Par Val¢ Re" Rating Mtlotln to Saloons Cost Basis Caterer,Total Market Vane Saone Mader Vale,
2004 Assessment Brand 162
ImrlW G—ramenl&Age,-P.1e 6LL.811, variable AAA open 001Vn 68,806 6N Of Bank of NY MO.., IS.11,
Capital One Bank USA honored Association a.Bla0 415% N/A 115/I,1 IXOY 93M46 19.150 Book of NY Manor .141X
162 632
2005 Asansn and Disina I64
I.—Ooveraa—l&Agelry PMme 95,285 vadablc AAA open ik-,s 95,2M 11,285 Bank of NY Mellon 114,1111
Cltiamu Bank,Flid,Mlelugan 245.01nn 1.85% N/A I'll" 1.80% 245.147 243000 Bank of NY Mellon 245LW
Capital Orr,Bank USA NeIIowl Association 25nan 4.15% N/A 11511, 1811% Zonal 23127 Bank of NY Mellon 25 JIIX
If,213
2006 Airport PFC
Imtson Goventmenl&A,,Pnvaa 59g65A vanable AAA .,a OOP. 594658 596658 Bank of NY Mellon 411'/XX
U.S Tr®aan Note B53.OW 1175% N/A VIS/Il 155% 850692 958,tl19 Bank of NY Mellon 839 L5
1 JJ],119
200 Merged Poi p1&X2
Im'aw Gmemmenl&A,"Plnale 0 'amble AAA open Mao 11 Bank of NY Mellon o
p
2007 RcfwMing 4ase Rwmnm BOMB
Imes.Govetnmmnl&Allercy Pra ale 1 variable AAA open 001% I I Bank of NY Mellon 11X 1511
1
2009 Airport PFC portending
Brvuea Gal ordaenl&All,Private 19.589 anabk AAA open ant% 19,589 19,589 Bank of NY Mellon I)58'1
Fedoal Home Loan Mori Corporation 611)000 6125% N/A 1121/1, 191% 6{].450 62l,146 Bank of NY Mellon 11111,411
nal U19
Res—for 2012 Doorrown Re%insUsanon Lease Rn'etnte Bond
ho—Gal emnenI&ABene,Pont. 'All". ramble AAA open 1,IXB,IDU 1.IBX,1W Bank ofNY Men.., I.US141
1,18B I00
FLANS With Crow,Golf 158231 I58231 159,251 Canton.Golf 2161a4
I5g,251
ToaB S 2h091.251 S 19,]9X,]1] S $16246716
0
00
TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
October 31, 2012
treasrep
11/26/12
Allowable Percentages
By Maturity: Minimum Maximum Current Mo.
1 day to 365 days $8,000,000 N/A 84,560,872
1 year to 3 years 0.00% 50.00% 5.71%
3 years to 5 years 0.00% 30.00% 0.88%
over 5 years N/A N/A 0.55%
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% 1.10%
Corporate Notes N/A 20.00% 1.10%
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% 44.55%
U.S. Treasury Notes/Bonds N/A N/A 0.00%
0
W
Calculation of Weighted.Avg Maturity
Mature C.m No.of Days X Cost
Date Date Days
41,213
41.214 41213 1 3.259.624
41.214 41.213 1 27,113,841
41214 41.213 1 18ANA07
41214 41213 1 15,000
41,199 41,213 -14 0
41,201 41,213 -12 0
41,205 41,213 -8 -7,990,OD0
41,206 41,213 -7 0
41,228 41,213 15 14.985,000
41,228 41,213 15 14.985,000
41,236 41,213 23 23,000,000
41,236 41,213 23 23,000,000
41,240 41,213 27 27,000,000
41,241 41,213 28 28,000,000
41,248 41,213 35 69,947,500
41.261 41,213 48 95,952,000
41,333 41213 120 239,880,000
41,361 41,213 148 2%,OW,000
41,382 41,213 169 169,000,000
41,431 41,213 218 436,000,000
41,432 41,213 219 438,ODO,000
41,462 41,213 249 1,264,857,750
41,501 41,213 288 575,136,000
41,514 41,213 301 300,398,000
41,514 41,213 301 602,000,000
41,537 41,213 324 648,000.000
41,544 41,213 331 662,000,000
41,544 41,213 331 662,000,000
42,107 41,213 894 894,000,000
42,212 41,213 999 199,800,000
41,694 41,213 481 962,000,000
41,718 41,213 505 1,010,000,000
42,571 41.213 1,358 271,600,ODO
42,571 41,213 1,358 271,600,000
42,941 41213 1,728 343,180,800
42,942 41213 1,729 345,800,000
43,196 41,213 1,983 988,711,902
11,917,336,824
Total ImestmeNa am Cost 91,058,066
W"in Days 130.88
10