Administrative Services Department 1901 Airport Road, Suite 210 South Lake Tahoe, CA (530) FAX

Transcription

1 3 "making sfafifre~ 6fif nee now,, CITY COUNCIL MEETING OF AUGUST 16, 2016 To: From: Nancy Kerry, City Manager Debbie Mcintyre, Deputy Director, Financial Services RE : Investment Portfolio Report as of June 30, 2016 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, 2016 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 $58,010,344. Cash available for operations is $47,293, 165. This includes Cash in Bank of $3,261, 112 with the remaining amount in various investments diversified in accordance with the City's adopted Investment Policy. The total portfolio yield is 0.74%. 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 $10,717,179. 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 Type Balance Balance Balance Trust 9,040,338 2,749,789 6,290,551 Special Rev 9,505,326 9,505,326 General 15,340,955 15,340,955 Internal Svc 6,079,842 6,079,842 Debt Related 5,156,158 2,926,085 2,230,072 Enterprise 4,206,945 2,010,388 2,196,556 CIP 8,680,780 8,680,780 Grand Total 55,010,344 47,293,165 10,717,179 Administrative Services Department 1901 Airport Road, Suite 210 South Lake Tahoe, CA (530) FAX

2 Investment Portfolio as of 6/30/2016 City Council meeting of August 16, 2016 Page 2 of 2 CITY COUNCIL WORK PLAN: Fiscal Sustainability FISCAL IMPACT: None By: 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 OPERATIONS CASH INVESTMENT PORTFOLIO

4 CITY OF SOUTH LAKE TAHOE OPERATIONS CASH INVESTMENT PORTFOLIO REPORT AS OF JUNE 30, 2016 WEIGHTED WEIGHTED INVESTMENT TYPE ISSUER PAR VALUE MARKET VALUE CURRENT YIELD PAR YIELD MATURITY DATE Local Agency Investment Fund State Treasurer $ 36,508,653 $ 36,531, % 77.2% 0.44% N/A Federal Natl Mortgage Assn Government Agency $ 1,000,000 $ 1,002, % 2.12% 0.04% 11 /25/2020 (premium on purchase in GL) $ (1,000) Federal Home Loan Bank Government Agency $ 1,000,000 $ 1,005, % 2.12% 0.03% 9/25/2019 Municipal Security Government Agency $ 1,000,000 $ 1,031, % 2.12% 0.05% 5/1 /2019 Corp Note JP Morgan Chase $ 1,000,000 $ 1,008, % 2.12% 0.04% 8/15/2017 (premium on purch partially adj in GL) $ 15,000 Corp Note Wells Fargo & Co. $ 1,000,000 $ 1,014, % 2.12% 0.05% 1/30/2020 (premium on purchase-not in GL) $ 4,104 Certificate of Deposit Capital One Bank USA, NA $ 250,000 $ 250, % 0.53% 0.01 % 8/5/2019 Certificate of Deposit Discover Bank $ 250,000 $ 250, % 0.53% 0.01 % 8/5/2020 Certificate of Deposit Citizen's Bank $ 250,000 $ 250, % 0.53% 0.00% 1/30/2017 Certificate of Deposit Capital One, NA $ 250,000 $ 250, % 0.53% 0.01 % 8/6/2018 Certificate of Deposit Goldman Sachs $ 250,000 $ 250, % 0.53% 0.01 % 5/28/2019 Certificate of Deposit Ally Bank $ 250,000 $ 250, % 0.53% 0.01 % 5/30/2017 Certificate of Deposit GE Capital Bank $ 250,000 $ 250, % 0.53% 0.01 % 5/30/2018 Certificate of Deposit Amer Express Bank $ 250,000 $ 250, % 0.53% 0.01 % 9/11/2017 Certificate of Deposit State Bank of India $ 250,000 $ 250, % 0.53% 0.01 % 9/11/2019 Certificate of Deposit Sallie Mae Bank/Salt Lake $ 250,000 $ 250, % 0.53% 0.01 % 9/10/2018 Cash in Bank $ 3,261,112 $ 3,261,112 N/A 6.90% 0.00% Petty Cash $ 9,400 $ 9,400 N/A 0.02% 0.00% TOTAL $ 47,293,165 $ 47,364, % (Total Portfolio Yield) The Investment porfolio at June 30, 2016 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 apportionment rates and US Bank Safekeeping.

5 ATTACHMENT 2 CASH AND INVESTMENTS HELD WITH FISCAL AGENTS

6 CITY OF SOUTH LAKE TAHOE INVESTMENT REPORT CASH AND INVESTMENTS HELD WITH FISCAL AGENTS AS OF JUNE 30, 2016 BOND ISSUE ACCOUNT INVESTMENT TYPE ISSUER CURRENT MATURITY COST VALUE 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 1,830,872 1,830, % N/A % N/A So Tahoe JPFA Parking Rev Bonds 2013 Debt Service Reserve Refunding Account Debt Service Account Supplemental Reserve 571, , % NIA % N/A 445, , % N/A 1, 179,454 1, 179, % NIA So Tahoe RDA CFO, Series 2007, Special Tax Ref Bonds Reserve Account Special Tax Fund Fidelity Institutional Prime #691 Fidelity Institutional Prime #691 Fidelity Fidelity % N/A % N/A So Tahoe JPFA 2007 A Bond Proceeds Revenue Fund Cash Cash Wells Fargo Dreyfus 0 0 N/A 5,496 5, % N/A So Tahoe JPFA Ref Rev Bonds 1999 A Debt Service Reserve Cash % N/A So Tahoe JPFA (RPA 1) Reserve Dreyfus Cash Mgmt 670 Dreyfus 5,750,009 5,750, % NIA So Tahoe TA Special Fund % N/A So Tahoe TOT Special Fund 5,485 5, % N/A Successor Agency to the So Tahoe RDA, CFO , Refdg Series 2015 Special Tax Reserve Surplus Cost of Issuance City of South Lake Tahoe 2014 Pension Obligation Bonds Interest City of So Lake Tahoe 2012 COPS, Road lmprovmt. Project Fund Firsl 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 % N/A 517, , % N/A % N/A 11,205 11, % N/A 50,336 50, % N/A % N/A 334, , % N/A 12,894 12, % N/A 10,717, ,717,179 Valuation is based upon the valuations contained in the monthly statements provided by the trust departments of the fiscal agents.

7 ATTACHMENT 3 CHART: OPERATIONS CASH INVESTMENT PORTFOLIO

8 City of South Lake Tahoe Operations Cash Investment Portfolio Market Value as of June 30, 2016 Medium Term Certificate of Dep % Governme..o.t. Agency 7% Medium Term Corporate Notes 4% LAIF 76%