HomeMy WebLinkAbout19F - INVESTMENT REPORTREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
AUGUST.21, 2018
TITLE:
RECEIVE AND FILE QUARTERLY REPORT
OF INVESTMENTS AS OF JUNE 30, 2018
(STRATEGIC PLAN NO. 4, 1D)
RECOMMENDED ACTION
Receive and file.
DISCUSSION
CLERK OF COUNCIL USE ONLY:
APPROVED
❑ As Recommended
❑ As Amended
❑ Ordinance on 1 � Reading
❑ Ordinance on 2nd Reading
❑ Implementing Resolution
❑ Set Public Hearing For
CONTINUED TO
FILE NUMBER
In 1995, the State of California enacted legislation revising the reporting requirements relative to
investment of funds by governmental agencies. California Code Section 53646 (b) states that if
a quarterly report is rendered to the legislative body, the quarterly report shall be submitted
within 30 days following the end of the quarter covered by the report. In an effort to meet the
statutory requirement, Finance & Management Services Agency submits the Report via email for
review and distribution to the City Council in advance. The report was emailed for distribution on
July 26, 2018. The legislation specifies that this quarterly report contain the seven major
elements listed below:
1. Type of investments,
2. Date of maturity,
3. Par and dollar amounts invested in each security,
4. Weighted average maturity of the investments,
5. Market value as of the date of the report,
6. Source of the market value information, and
7. Any funds, investments or programs, including loans,
under the management of contracted parties.
These specifications include a statement outlining the ability of the City to meet the budgeted
expenditures for the subsequent six months be submitted to the City Council on a quarterly
basis. Staff performs an end -of -month expenditure analysis to comply with the expenditure
requirement and a statement confirming the ability to meet this requirement in the monthly and
quarter -ending Treasurer's Report. The information is in compliance with State law and the
City's Investment Policy.
19F-1
Quarterly Report of Investments
August 21, 2018
Page 2
The attached Treasurer's Report (Exhibit 1) accurately reflects all pooled investments held on
behalf of the City as of June 30, 2018.
The following two tables represent: (1) percentage limits set by the City's Investment Policy and
State Law and shows respective City investment portfolio investment types, amounts, and
percentages; and (2) the restricted cash balance as of June 30, 2018.
Type of Investment
Amount Invested $
Portfolio %
COSA Polity
Limits %
State Law
Limits %
Certificate of Deposit (CD)
$3,966,000.00
1.35%
30%
30%
Federal Farm Credit Bank (FFCB)
$46,522,440.00
15.86%
None
None
Federal Home Loan Bank (FHLB)
$66,147,966.33
22.55%
None
None
Federal Home Loan Mortgage Corp. (FHLMC)
$42,233,115.00
14.40%
None
None
Federal National Mortgage Association (FNMA)
$69,729,460.00
23.77%
None
None
Local Agency Investment Fund (LAIF)
$64,716,689.95
22.06%
None
None
sub -Total
$293,315,671.28
100%
Cash
$19,761,046.62
Total
1 $313,076,717.90
Restricted Cash
In $
Restricted Cash t
$11,104,675.19
Total
$11,104,675.19
t Restricted cash is held by a Trustee, Bank of New York Mellon, and is segregated from cash used for daily operations.
The following City investment portfolio graph represents percentages within the respective
investment types as of June 30, 2018.
City of Santa Ana
Investment Portfolio Asset Allocation
June 30, 2018
15.86%
19F-2
■ Certificate of Deposit (CD)
■ Federal Farm Credit Bank (FFCB)
■ Federal Home Loan Bank (FHLB)
■ Federal Home Loan Mortgage Corp.
(FHLMC)
■ Federal National Mortgage
Association (FNMA)
Local Agency Investment fund (LAIF)
Quarterly Report of Investments
August 21, 2018
Page 3
The following three tables represent, as of Ju
Return on the City's investment portfolio, both
the aggregate Average Market Yield -To -Date
investment type.
ne 30, 2018: (1) the aggregate Effective Rate of
month to date (MTD) and year to date (YTD); (2)
(AMTD); and (3) the breakdown of AMTD by
Aggregate Effective Rate of Return
Month To Date (MTD) 1.43%
Year To Date (YTD) 1.28%
Aggregate Average Market Yield To Date
Average Month To Date (AMTD) 1 1.67%
AMTD Breakdown by
Type of Investment
Par Value.
of Investments
Yield to
Maturity
%'of
Portfolio
Average Market Yield'
to Date
Certificate of Deposits
$3,966,000.00
1.697%
1.36%
0.023%
LAIF
$64,716,689.95
1.840%
22.06%
0.406%
Federal Agency Securities
$224,632,981.33
1.614%
76.58%
1.236%
Total
$293,315,671.28
1.665%
1 100.00%
1.665%
STRATEGIC PLAN ALIGNMENT
Approval of this item allows the City to meet Goal #4 - City Financial Stability, Objective #1
(Maintain a stable, efficient and transparent financial environment), Strategy D (Develop a fiscal
health analysis tool that informs a department of its financial position in order to assist in its
decision making process).
FISCAL IMPACT
There is no fi cal impact as with this action.
Sergio Vidal
Assistant Director
Finance and Management Services Agency
Exhibit: 1. Treasurer's Report
M
19F-3
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