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Home My WebLink About19H - QRTLY RPT INVESTMENTSREQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: NOVEMBER 20, 2018 TITLE: RECEIVE AND FILE QUARTERLY REPORT OF INVESTMENTS AS OF SEPTEMBER 30, 2018 {STRATEGIC PLAN NO. 4, 1D} .,d/ A 1, 1 L i -�M :I�CIT�YT-AAGER RECOMMENDED ACTION Receive and file. DISCUSSION CLERK OF COUNCIL USE ONLY: APPROVED ❑ As Recommended ❑ As Amended ❑ Ordinance on 1s' 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 October 30, 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. 19H-1 Quarterly Report of Investments November 20, 2018 Page 2 The attached Treasurer's Report (Exhibit 1) accurately reflects all pooled investments held on behalf of the City as of September 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 September 30, 2018. Type of Investment Amount Invested $ Portfolio % COSA Policy Limits % State Law Limits % Certificate of Deposit (CD) $3,966,000.00 1.58% 30% 30% Federal Farm Credit Bank (FFCB) $41,972,660.00 16.72% None None Federal Home Loan Bank (FHLB) $62,647,816.33 24.95% None None Federal Home Loan Mortgage Corp. (FHLMC) $42,233,115.00 16.82% None None Federal National Mortgage Association (FNMA) $64,731,960.00 25.78% None None Local Agency Investment Fund (LAIF) $35,502,235.72 14.14% None None sub -Total $251,053,787.05 100% Cash $14,878,245.18 Total $265,932,032.23 Restricted Cash In $ Restricted Cash t $11,120,158.57 Total $11,120,158.57 t Restricted cash is held by a Trustee, Bank of New York Mellon, and is segregated from cash used for dally operations. The following City investment portfolio graph represents percentages within the respective investment types as of September 30, 2018. City of Santa Ana Investment Portfolio Asset Allocation LAIF CD September 30, 2018 CffW ■ 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) The following three tables represent, as of September 30, 2018: (1) the aggregate Effective Rate of Return on the City's investment portfolio, both month to date (MTD) and year to date (YTD); 19H-2 Quarterly Report of Investments November 20, 2018 Page 3 (2) the aggregate Average Market Yield -To -Date (AMTD); and (3) the breakdown of AMTD by investment type. Aggregate Effective Rate of Return Month To Date (MTD) 1.58% Year To Date (YTD) 1.54% Aggregate Average Market Yield To Date Average Month To Date (AMTD) 1 1.72% AMTD Breakdown by Type of Investment Certificate of Deposits LAIF Federal Agency Securities Par Value of Investments $3,966,000.00 $35,502,235.72 $211,585,551.33 Yield to Maturity 1.697% 2.050% 1.662% % of Portfolio 1.58% 14.14% 84.28% Average Market Yield to Date 0.027% 0.290% 1.401% Total $251,053,787.05 1.717% 100.00% 1.717% 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 fiscal impact associated with this action. Kathryn Downs, CPA Executive Director Finance and Management Services Agency Exhibit: 1. 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