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HomeMy WebLinkAboutStaff Report 2.B 03/06/2017DA'114 : k1a re It 6, 20 17 TO: I lonorable Mayor anal lei of tile City Counci I through City manager FROM: William IN11tisfialto, Finance Directo % JunincTedrow, Senior Accowiumt SUBM"C"I': Resolution to Rveck,Q and File. the City Treasurer's Quarterly Report Dated December 3 1, 20 16, REkOMMENDATION R is recommended that the City COU1161 adopt the altacticd Resolution To Receive and File tile City TI-CEIS1.11-C]"S ()LUNIQrly Report DatW Dcccmbcr 31, 2016. BACKGROUND Pursuant to (lie City' s Itivesirlient Policy mid Government Code. [lie City COLM61 "IDIRMI]y delegates authority to the City Treasurer to Invest 01, reinvest. City fulids. 'file City Council approved the City (if Petaluma InvosIMC11t POliC3F Oil h.11W 20, 2016 which delegaied investment authority to the City Treasurer for the Fiscal Year 2016-17. '('lie City is I-OCILlirOd tO provide as quailerty investment report to the Council that includes 111C SUALIS Of the i1lVeStMent portfolio. The attached reports OLIIli])O the CUITC111 investments, the weighted average and yields of pooled investincrit,, investments mmiagpi by Public Fln'tincial Management (1-11"M,;, and earnings, received by investments in the Local Aguncy Investment Fund (LA 11"), r Flie reports also include the Tivisurer's certification of adOCILLIte cash I'low. 'I"his, is the second quarterly" report For Viscal Year 2016-20 17. IASCU'SION H is Ilic policy cal' thl; City of Petaluma to manage public I'Linds in to man.ner consistent N.Vith the laws of (tic State of Caldornia pertaining to [lie investment of Pilblic 1-micts. Three primary goals C� of the City are to sid'emmard the I)rincipal cal` Ivii(ts under its ColltrolI "'Cet the ('.Ji- °" (461V CASh flow rcqUrircJ1]e11tS, and achieve at reasonable rale of-re(unj with the maxiMMI-1 ',111100111 Of -iCCUrity pomiblu, I'lle rJttaCbekj Quarterly Report contains inl'ormation on the Citys cash ntivity and ending, kulan.L.es in all City accounts. Each report "llso: Summarizes tolul be -Inning balances U all crash and and total quarterly :acliN, Iv and eridki- balances. 1havides ClUdriorly aciNity and ending Nalances in the Cit,y7s cash equivalent accounis and iFIRMTuMiOn AM tMKWC WOUnt UCOVities and ending balances. RUNKS illfonmation 0,T) investment portlidio act. vhy. semity (.ypo, maturity and value, and book and filit'WILIC, 4 (himprcs the Oty's quaimly hivestnivit carnings with the City's benchmark. The OWS N110,1111ark fist. investment eaiings is Ific Merrill Lynch 1-33 year TIS Treasur.), index as govided by 145ornhug Awndal Markets. Tiat ratc was -.54% liar die last six months. The City's annualized ]VIL11-11 OU(JVr1'()micd the Index by .17'4, coming in at 37% i'iv the last six rmm(hs, Pcr (he City's InWrRmd Loan Policy, the Troasurcr's report no longer lists all inter -f 10,111 Inid s cuamWy in phce; howevm this int'ormation is available upon reqUCSt- flNANCIAL IMPACTS Ile baWnce of cmh. and investments as ofikeembcr 31, 2016 was $1414 Wim This is Uj) $A I million D-om die balance a! We end of Septembei-, 2016The increase is due nminly to the receipt of semi-mival larval eily tax payment. The nct itiveonent canAngy duHng to quaaer enSig December 31, 2016 were $202,095. XI' LA tj I N1 V NTS, L Resolution 2. City Treasur&s Quawdy Deport dated December 3 1, 2016 AT'l'AClll`vil-;N'1 I RESOLUTION TO RECEIVE AND FILET111F, CITU 'FREASURE.113S QI)AR"VERLY REPORT.DATIA) DECEMBER 31,2016 W1 I I "REAS, file City Investment policy requires the CityTreasurer to provide u LILIarl,crly investment report to the Cot ICH 101C01111111,111CC With the adolited City Invesmicsil Policy. NW '111FRE1°ORF, BE' FF RESOLVII.) that 01C City COL11161 IMS I-eCeiVC(I Ilia City TreaSUI-el"S QUartorly Report dated Dcce.mber 3 1, 2016 and direeLs the Clerk to lite file rcpoj�t, ATTA (I I (VI FINT ? C i ity f_ alu a r -N yuarterly Investment Report October 'I to December3 ) 17 2016 W.W= This roport is preserited in accordalice Nvltll the (Ity's 111vestmellit policy and [lie Califionlia (iovern'llicill Code, TIIQ policy and Growniment Code reqUil-CS HICTI'CaSUI-cr 10 Col-tify thilt SLIffiCiCilt. cash [low is arvaflable. f6r the nexisix months to meet the expccted demand or provide Lan explanation as to why suf'ficient cash T111(ly not be zivallahle. The attached 1.011014 OLIIIiIICS the CUITUIlt i lives I nien Is, weightcd average and yields of la investments, The month end account statement of assets MatlagCd by PLIHiC Financial Management, (PFIM), (lie, Local Ageney InNITSIMCIA Funds (1,AH-) quarlerly statenient, and the (-Ity's perfoi-niance sterni -nary of'pordlolil) ilmstment's as conipared to applicable betichinarks are hicludcd, The report also includes the Treasum's certifiteation Of'adc(ltlatC c.aasla 110NNI, We respc0l'011y submit the quartuly investrileill report 1,61- dw quarter Qnding Dmenil)(:r 3 1, 2016 CITY OF PETALUMA, CALIFORNIA CITN"TRE ASURER'S QUARTERLY REPORT M the quader euding December 31, 2016 (.,'ash activity for (lie fiwal yvar: Cash and Investments, Beginning of the quarter, 9/3t1/16 $ 135051027 Cash Receipts 62,21 Q42 Cash 1)41mmemmils (57, 144,773 ) Cash and inmimens, Kull ortire Quarter, 1.2/31.1,16 $ 140,431,490 (:ash and lnveonwn( Portfolio it December 31, 2016 Purcent Fad Mmtel Par Vahre of (cost) 1101-tiblits Investiments Manage(] by City Tre"surer: Assessment DiNlricts Bojr(N 373035 373135 11,271% 1 �ocal Agency I oVWtl11CYjt 1"Llrl(iS (LA IF") 4%491523 50011,131 35.61% CAMP Pool (CA Asset N14anagement Prog) 31J,381320 31,1,383320 21.1745% 13FNI I 11VOSUTICIAS SCCLtritiCS 'r* 21381225 24033A99 17-479,o Celli f Icate of Deposit's 250400 250100 T 180/4, C%mkhg Avwurrle 2b,34 9,01 S 26,349,618 18,765% Subtotal 131A3%220 131,41,30 93.93 Itivestnicnts Managed by Fiscal Agents: CAMP Debt ksiie Accomits 434130 43 n 130 U I% Trustee kJoney Market ACCOMIS 109%064 8199164 537T� Subtotal C531i,194 05311,6T 6.07'V., Total Cash and Investments 14%169AI4 140,431,496 1 00J10 L,11/0 I (;orti(y that this repm comains the Intal amounts of'casli and invcsimentsal DCCQ�1111]Qr 31, 2016 The inveshrrents are in coMmij Mir dw investment policy. A. copy orlhe InveMment ImAicy is availble f6r review, in the Fhwwe Deprtment, The 0, Treawmal cash manalwinent program provides Sumown HIMY N) Inert m1winfilm-e requirements IOr the MN( SiX 1-11011thS. We respectfitily satin dw qnmVMv inveshnent rapurl-16r the quarter criding December 11, 2016 A—I William mushalio, Firlance Director hmi *Fair, market valtics are Furnished 1)), the fAnIc Malilfwlj JAN Agmwy Investment Him[ and California Mset Management Pru)gralll. ** Sm dMNI MWAK Itiveshoonts / Violin c 1,11 1111f1141tv Ufmaged hr ? 'i(i, 7reaywer As,w5slnunl I )vIiio Pond W )} :11j(10-01 Na41-Tol.11 A-ockvm Vali Dittric(s 111111f] (AD) Ncr()pklty I AW 1AN' Suh- Fohli I 'AfF CAMN,o:+TjGasmvt s luvemintmi it v Nhifkct AtX,mill IAN A Aycw-j Bojlds(DiNuoulli Kotv!, J -u! A,!uncv iwcme,l inte!csl US1 uvi-iii-il:aie ur oLpij.Nits; t hillsyla BallL Sulll'loal ( erlifivWU of Devilifts CbP061m Accuillik: I lfolllw, Ixu Chauh, i f1m hilict Vilest cilihn4 Std) -Tula) Checkinf, Arvinifols TAF11 (,flsjt 111"I 1111^cstrrtcatlti N141lijigttl lltL tile (jjp Invoonoov y1fornigeel by Truvteev P4tool ^jgc"00% CAMP -AD 2 1, ?4 2-5 AcvuijN Money Mal kcT CAMP- -3m)3 rop, 261v, TAH, !1111 TAP Sub-ITtlal t 'AAW-Debt kslic Accumilk finnt. ol'Nov York I IS BaWz i ilm A In"Fivoll Ylem; 5 -111 -'frill Fl-klSkn NNFIVY N10010 AVC01MI Tolat ( 'asit and NhIllilged b) Vi'v4j lkgellt°, T0T %1, CAS11 %Nll 1NVE-4TM1iN1,li 1* w"d"If 01 It, 01'VE UALUAMA, CALIFORNI k (A IN TREA SU R P. It's QUARTElUX 1111".11010, Devvisiber-i 1, 2016 11313,39601 TA 4 6 1 :End of 0S "1,i I M, CD 5 2 5 VA) 4H`t'8I ?,6M Sx '13,602 3: 7,521,?441 4� 49,926,J0 71.602 3,.! NN'o-41 7-� (71610 12� 1 '19,112 fi, 28% 2, 0 158J,44,114 (7J,(Jl2J2) 50,011,330.4)2 567,78(MRS t 1) 436, 1 .t:? P-5) 30,3SV, V? 93 36,25 1 662,'M 3„567,78%88 (4,436,132,H5) [7, .1 111 :r _;8 1 -,MdA7 1 ON 1 .929,715 84) 1'^Ijwmv?,7 S,j J, 10 1 S1 I I 6 (1,51761? 3) 7,3'a4,:?i l9 2 1 12,hH Q8 16,,,07-,'(1 (14";ttj 110 N.554,742,74 3,486,(125.85 (3,507,EL69,9 24,531,498D) If 1.1 Oh, 22%1)2 71213JI59.i-, $13,1117,611"16) 1 (15, 311 $ , 684.53 D'I'MU, l K M I11 (I? 1 24) it) , WO 2;ojfoom4 121.24 ........ . 112f .24) 250,01RUID 4 ^449° 92'48,1 41 .10 I N17,18 817 i.q 8)%7,;9-,!h 79,9 b I Oc 5(), 1 181 7" -73-d) 10,139,924.92 52jr)2,97(U9 05;)253L27 2 6 3 4 9,6-17,11 12 l,496, 154,8.1 54,3n, 15 1, 10 (414,1;17 1,003,71) 131,901,3112.2.4' 11313,39601 TA 4 6 1 40 M Pl,ftf, 43 1, 1 IMM, CD 5 2 5 VA) 1 �j 84,475 S-1 �JWNV) �8 7,521,?441 4� 13,_{31,47587 2M4 1,.'1517o is M173,769.14 13,go"47 I.fiz 2,842,419M') (8,17.1,769, 14) 815 30j 931i, 62,218,24101 (:i7,144,772,W 1,10,43 1,49 -SA I CI FY OFPCTALUINIA, CIA I JFORNIA RETORT Fril' lite citlarler unding Deceirdwr At, 2016 Cost vs, Fair Madict Value Unrealized Uaipl/(Loss) (H,1 4TOW) (84.504.08) (98,651 m) (98,651.08) (98,651.08) LAIV 4 (), 9 2 6, "18 t) - 1 0 119.897-522.82 C-28.766,38) 1AlFamorlizcd uost ruix 0,99941-'82-400 ". See cluait attached Cost FV t �S'hvasury Bond/Note T-Vit),W, L2 i FtAcr�il Agmicy llcmd�'Oiscoutll Note 17-109,1-167.54 17-025j 0-46 Corporatk, Note Corti ficiltc ot, Ouposil Sub -Total VFNI Treasurer's Invest. Securities 24,483,875.75 24,385,224,67 CAMP Poral lklonq ivlw-kct Fund 30,183,319 93 30.:183,:119.93 Stili -Total (.'AMI' Treasurer's tuvestments 54,867,195.68 54,768;544,60 Acenjud Interest 49,6218i CAMPTotal Investment Mamaged Securilies fleld ----------- 54,818,167.45 CAMP Debt INsm, Managed Accoulitk" 431.129-6(, 431,1'29- 66 I'VNI CANIP Total Trc^asllrcrls Investulclus i.55,298,325.34 5.5,199J,74.26 Unrealized Uaipl/(Loss) (H,1 4TOW) (84.504.08) (98,651 m) (98,651.08) (98,651.08) LAIV 4 (), 9 2 6, "18 t) - 1 0 119.897-522.82 C-28.766,38) 1AlFamorlizcd uost ruix 0,99941-'82-400 ". 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California State ("ontroller LOCAL AGENCY INVESTMENTFUN"D RFMITTAINCE ADVICE Agency Name, Account Number Page I of I 98-49-650 As of 01/13/2017, your Local Agency Inve-(mc ni Fund account has been directly credited with the interest CffrICLI Oil YOLIV deposits I'M- the quarici, ending [2/31/2016. Farnings Ratio .000018519,19158529 hitercs[ Rate 0,69%o Dollar Day Total 41,592t-261,77624 Quarter Fncl Principal Balance 49,9226,299.20 Quarterly biter est Farned 85.041 .72 -2/90017 j%V - E State of California ' : � Pooled Money Investment Account Market Valuation "law 12/31/2016 Carrying Cost Plus Description Accrued Interest Purch. Amortized Cost Fair Value ORMITUMMMM 'I, i UnRed State. Treasury: Bills 11,446,490,72.7,80 $ 11 ,46%093,813_84 $ 11,466,957,500,00 NA Notos $ 21,240,182,01260 $ 21,237,355, 143 84 $ 21,210,1J1,50000 $ 32,928.180.00 I SBA $ 298,387,000.00 792,593,999,73 $ 7927573,777,77 1 $ 785,274,949.10 $ 502r06&60 MB'3-RrM!Cs $ 300,000,000.00 49,03 6,52.21 $ 49 039,55 221 51,627,495,79 $ 231,374,0 Debentures 23,101,888,89 1.025,076,967,25 $ 1,025,067,245,03 $ 1,021,616,500.003 $ 2,'16a0,598.00 Debentures _FR,_,___._____ $ $ ..... . $ $ $ - Discount Notes $ 7, 1 i37,429,402 88 $ i,187,637,U00.00 NA GNMA $ $ 1' Supranational Debentures .. . . ...... 1 Supranational Debentures FR I $ F 2' CDs and YCDs FIR $ 2' -Bank Nates $ 2* CDs and YCDs $ 2' Coniryiercial Pappr $ V jCorporate-___ Bonds FIR Bonds 1* Reverse Repurchase [rim -e - Deposits JAE3 55 & GF Lomas I TOTAL 1 $ Fair Value Including Arxrood Interest 299,974A75.25 $ 50,000,000m $ 300,000,000M 5 600,000,000-00 $ le' -750,000,000m , $ 6,584.098,055.50 $ s $ $ 299,974,475.25 $ 298,387,000.00 $ 713,263,1'30 1- 110,000,000 00 $ 49,988,000.00 $ 1 . 11 3007000,000,00 $ 300,000,000.00 $ 457,59231 0300.000,000 00 $ 599,926,1326.11131 $ 2,3116,861, 11 10,740,000,00000 $ 10,7 46,690,134.35 23,101,888,89 13.591,285,159.7? I NA $ $ ..... . $ 5,286MOM0,00 $ 5,286,440,0100Y0}0 [$ 5,286,440,000.00 8,135,851,000.00 8,135,851.000 00 73,731,8 57,865 73,73,i,206,734.68 $ 314,952. 21 1 $ ' Govwirroontal Accoonting Standards Board (GA813) .8tater-nont 472 Repuichose Agreenrien1q, Time Deposits, AB 65 & General Fund loans, and Reverse Repurchase aqreoni(,j+­3re carried at portfolio book. value, (carr ring cost), $ 73,794,358,303-26 The valtio of each participating dollar equoh,, Me; Fair valu(divided by the amortized cost (0.999423823). As an example: J an agency has non count balance, of $20,000,000 00, then thea en(;y wouRl rep oft k partic,pation in the I.All"valund at $19,988,476.46 of $20,000,000 070 xO.999423823. NA NA 621"i'20,438 I City of Petaluma Pci-ftwmance Summaries Returns as of . .... ......... December 31, 2016 City of Petaluma SAW Treasury Index Past Quarter -0.33% -0,43% Past 6 Months -0.37% -0.54% Past Year 1.07% 0.89% Past 3 Years 0.78% 0,68% Past 5 Years 0.71% 0.67% Effective Duration 1.79 years 1.82 years Yield I.00% 1.18% Notes- I . Bank ot'Anicrica Merrill Lytic -la (B.AML) Indices provided by Bloomberg Financial Markets. 2, (-'AMP Cash Reserve flool holdifigs exeltided fiwii perforniance, yield mid duratiotl ullculatiolls. 3, NI-1611111aDOC 1WHIbeNS For periods greater thaii one year are presented on an animalized Nisis. 4. The City',O- reasury knchivark was the Merrill Lynch 1-3 Year Index froin inception to 6/30/12. Then. tic Imichmark switclied to the Merrill Lynch I Yeat-Treasiny Indcx. On 6/30/11 the henchmark- refurned to the Merrill Lynch 1-3 YearTreasmy 111dex. 5. Inception date. is 12/31/01. 6, Yicld for the City is calculatcd as the Yield to Maturity at Cost. The Yield I -or [tic City's Treasmy beiichinark is calculated a: the Yield to Maturity at Market.