RE: Investment Portfolio Report as of June 30, 2015

Transcription

1 3 " nu:lkfng a positive difference now " CITY COUNCIL MEETING OF SEPTEMBER 1, 2015 To: From: Nancy Kerry, City Manager MaryAnne Brand, Financial Services Manager RE: Investment Portfolio Report as of June 30, 2015 RECOMMENDED ACTION: Receive and file. DISCUSSION: In accordance with the City of South Lake Tahoe Financial Policies and State law a quarterly investment report shall be submitted to the members of the City Council. The attached report for the period ending June 30, 2015 describes the type of investments, the issuers, the maturity dates, the par value and the market value. Total cash for operations and cash held by fiscal agents is $51,438,344. Cash available for operations is $35, 120,209. This includes Cash in Bank of $2,869,997 with the remaining amount in various investments diversified in accordance with the City's adopted Investment Policy. The total portfolio yield is 0.72%. Based on this report the City of South Lake Tahoe will be able to meet projected operating expenditures for the next six months. Cash held by fiscal agents for debt service is $16,318, 135. These investments comprise the reserves and other accounts held in trust for debt service, lease financings, and capital projects financed with debt. Fiscal Total Cash Operations Agent Fund T e Balance Balance Balance Trust 11,630, ,546 11,027,865 Special Rev 7,605,563 7,605,563 General 15,650,667 15,650,667 Internal Svc 6,316,393 6,316,393 Debt Related 2,884,776 (933,697) 3,818,473 Enterprise 3,567,406 2,095,609 1,471,797 GIP 3,783, 127 3,783,127 Grand Total 51,438,343 35,120,208 16,318,135

2 Investment Portfolio as of 06/30/15 City Council meeting of Sep 1, 2015 Page 2 of 2 CITY COUNCIL WORK PLAN: Fiscal Sustainability FISCAL IMPACT: None By: nd, Financial Services Manager I concur with this report: David Olivo City Treasurer Attachments: 1. Operations Cash Investment Portfolio 2. Cash and Investments Held with Fiscal Agents 3. Chart - Operations Cash Investment Portfolio

3 Attachment 1

4 CITY OF SOUTH LAKE TAHOE OPERATIONS CASH INVESTMENT PORTFOLIO REPORT AS OF JUNE INVESTMENT TYPE ISSUER WEIGHTED PAR VALUE MARKET VALUE CURRENT YIELD PAR WEIGHTED YIELD MATURITY DATE Local Agency Investment Fund State Treasurer $ 21,210,103 $ 21,218, % 60.4% 0.19% N/A Federal Home Loan Bank $ 1,000,000 $ 996, % 2.85% 0.03% 6/20/2018 Federal Home Loan Mtg Corp $ 1,000,000 $ 1,002, % 2.85% 0.04% 6/27/2018 Federal Farm Credit $ 1,000,000 $ 1,003, % 2.85% 0.06% 11 /20/2019 Municipal Security $ 1,000,000 $ 1,013, % 2.85% 0.06% 5/1/2019 Fed Home Loan Bank, Step-Up $ 1,000,000 $ 1,000,117 variable, currently 1.25% 2.85% 0.04% 7/30/2019 Federal Home Loan Mtg Corp. Step-Up $ 1,000,000 $ 1,001,760 variable, currently 1.5% 2.85% 0.04% 8/28/2019 Federal Home Loan Bank $ 1,000,000 $ 1,000, % 2.85% 0.06% 6/30/2020 Corp Note JP Morgan Chase (premium on purchase) $ 1,000,000 $ 1,010, % 2.85% $ 30, % 8/15/2017 Corp Note Wells Fargo & Co. (premium on purchase-not in GL) $ 1,000,000 $ 991, % 2.85% $ 4, % 1/30/2020 Compass Bank $ 250,000 $ 250, % 0.71 % 0.004% 5/31 /2016 Goldman Sachs $ 250,000 $ 250, % 0.71 % 0.01 % 5/28/2019 Ally Bank $ 250,000 $ 250, % 0.71 % 0.01 % 5/30/2017 GE Capital Bank $ 250,000 $ 250, % 0.71 % 0.01 % 5/30/2018 Comenity Capital Bank $ 250,000 $ 250, % 0.71 % 0.00% 3/8/2016 Amer Express Bank $ 250,000 $ 250, % 0.71 % 0.01 % 9/11 /2017 Certificate of Depos~ State Bank of India $ 250,000 $ 250, % 0.71 % 0.02% 9/11 /2019 Sallie Mae Bank/Salt Lake $ 250,000 $ 250, % 0.71 % 0.01 % 9/10/2018 Cash in Bank $ 2,869,997 $ 2,869,997 N/A 8.18% 0.00% Petty Cash $ 9,350 $ 9,350 N/A 0.03% 0.00% TOTAL $ 35,120,209 $ 35,119, % (Total Portfolio Yield) The Investment porfolio at June 30, 2015 is in compliance with the Investment Policy of the City of South Lake Tahoe. The City of South Lake Tahoe will be able to meet its projected expenditure requirements for the next six months. Valuation is based upon the State Treasurer's Office LAIF quarterly apportionm ent rates and US Bank Safekeeping.

5 Attachment 2

6 CITY OF SOUTH LAKE TAHOE INVESTMENT REPORT CASH AND INVESTMENTS HELD WITH FISCAL AGENTS AS OF JUNE 30, 2015 BOND ISSUE ACCOUNT INVESTMENT TYPE ISSUER CURRENT MATURITY CQSTVALUE MARKET VALUE YIELD DATE So Tahoe JPFA Ref Lease Rev Bonds 2006 A Debt Service Reserve Lease Revenue Fund Dreyfus Cash Mgmt 670 Dreyfus Cash Mgmt 670 Dreyfus Dreyfus 1,830,431 1,830, % N/A 1,462,435 1,462, % N/A Debt Service Reserve Refunding Account Debt Service Account Supplemental Reserve Blackrock Liquidity Blackrock Liquidity Blackrock Liquidity Blackrock Liquidity Bank of New York Mellon Bank of New York Mellon Bank of New York Mellon Bank of New York Mellon 569, , % N/A % N/A % N/A 726, , % N/A So Tahoe RDA CFO, Series 2007, Special Tax Ref Bonds Acquisition & Construction Fund Fidelity Institutional Prime #691 Fidelity Project Account Fidelity Institutional Prime #691 Fidelity Reserve Account Fidelity Institutional Prime #691 Fidelity Special Tax Fund Fidelity Institutional Prime #691 Fidelity Surplus Fund Fidelity Institutional Prime #691 Fidelity So Tahoe JPFA 2007 A Revenue Fund Cash Wells Fargo So Tahoe JPFA Ref Rev Bonds 1999 A Debt Service Reserve Cash Bank of New York Mellon So Tahoe JPFA Ref Rev Bonds 2014 A TOT set aside Blackrock Liquidity Bank of New York Mellon So Tahoe JPFA (RPA 1) Reserve Dreyfus Cash Mgmt 670 Dreyfus So Tahoe TOT Special Fund Blackrock Liquidity Bank of New York Mellon So Tahoe TOT Special Fund Blackrock Liquidity Bank of New York Mellon City of South Lake Tahoe 2014 Pension Obligation Bonds Debt Service Blackrock Liquidity Bank of New York Mellon Interest Blackrock Liquidity Bank of New York Mellon City of So Lake Tahoe 2012 COPS, Road lmprovmt. Lease Payment Fund First American Govt Obligation Fund/Money Mkt US Bank Project Fund First American Govt Obligation Fund/Money Mkt US Bank Reserve Account First American Govt Obligation Fund/Money Mkt US Bank COi Account First American Govt Obligation Fund/Money Mkt US Bank TOTAL Valuation is based upon the valuations contained in the monthly statements provided by the trust departments of the fiscal agents. 27,407 27, % N/A 2,582 2, % N/A 546, , % N/A 723, , % N/A 10,579 10, % N/A 697, , % N/A % N/A % N/A 5,748,885 5,748, % N/A 1,049,371 1,049, % N/A 2,219,018 2,219, % N/A % N/A % N/A 2 2 N/A % N/A 334, , % N/A 12,893 12, % N/A 15,963,152 15,966, 152 ($351,986 over to GL ; entries posted in July)

7 Attachment 3

8 City of South Lake Tahoe Operations Cash Investment Portfolio Market Value as of June 30, % Medium Term_ Cerfiticate of Dep 6% -----LAIF 74% Medium Term Corporate Notes 6%