HomeMy WebLinkAbout19D - RECIEVE AND FILE QRTLY RPT OF INVESTMENTSREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
AUGUST 18, 2020
TITLE:
RECEIVE AND FILE QUARTERLY REPORT
OF INVESTMENTS AS OF JUNE 30, 2020
(NO FISCAL IMPACT)
/s/Kristine
CITY MANAGER
CLERK OF COUNCIL USE ONLY:
❑ As Recommended
❑ As Amended
❑ Ordinance on 111 Reading
❑ Ordinance on 2ntl Reading
❑ Implementing Resolution
❑ Set Public Hearing For
CONTINUED TO
FILE NUMBER
RECOMMENDED ACTION
Receive and file Quarterly Report of Investments as of June 30, 2020.
DISCUSSION
California Code Section 53646 (b) states that if a quarterly report is rendered to the legislative
body, the quarterly investment 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 23, 2020. 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
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.
The attached Treasurer's Report (Exhibit 1) accurately reflects all pooled investments held on
behalf of the City as of June 30, 2020.
19D-1
Quarterly Report of Investments
August 18, 2020
Page 2
The following two tables represent: (1) percentage limits set by the City's Investment Policy and
State Law and respective City investment portfolio investment types, amounts, and percentages;
and (2) the restricted cash balance as of June 30, 2020.
COSA
State
Type of Investment
Amount
Portfolio
Policy
Law
Invested $
%
Limits
Limits %
%
Certificate of Deposit CD
$1,734,000.00
0.57%
30%
30%
Federal Farm Credit Bank FFCB
$30,211,710.25
9.99%
None
None
Federal Home Loan Bank FHLB
$41,144,158.33
13.61%
None
None
Federal Home Loan Mortgage Corp.
$109,696,182.00
36.28%
(FHLMC)
None
None
Federal National Mortgage Association
$45,201,540.00
14.95%
FNMA
None
None
Local Agency Investment Fund LAIF
$74,350,140.45
24.59%
None
None
Sub -Total
$302,337,731.03
100%
Cash
$81,893,410.05
Total
$384,267,945.44
Restricted Cash
In $
Restricted Cash t
$120,647.30
Total
$120,647.30
t Restricted cash is held by a Trustee, Bank of New York Mellon, and is segregated from cash used for daily
operations. (exp.: Bond reserve funds)
The following City investment portfolio graph represents percentages within the respective
investment types as of June 30, 2020.
City of Santa Ana
Investment Portfolio Asset Allocation
June 30, 2020
CD
57% FFCB
9.99%
g Cemreaoe ofDepo,D(CD)
LAIF
. Federal Farm Credit Bank (FFCB)
24,59% FHLB
13.61%
Federal Home Loan Bank(FHLB)
. Federal Home Loan Mortgage Corp. (FHLMC)
FHLMC
36.28%
•Federal National M enrage Associatlon(FNMAJ
C Local Agency Invutment Fund (MF)
19 D-2
Quarterly Report of Investments
August 18, 2020
Page 3
The following two tables represent, as of June 30, 2020: (1) the aggregate Average Market Yield
To Date (AMTD); and (2) the breakdown of by investment type.
Aggregate Average Market Yield To Date
Average Month To Date (AMTD) 1 1.465%
Breakdown by
Type of Investment
Par Value
of Investments
Yield to
Maturity
% of
Portfolio
Average Market
Yield to Date
Certificate of Deposits
$1,734,000.00
1.800%
0.57%
0.01%
LAIF
$74,350,140.45
1.217%
24.59%
0.35%
Federal Agency
Securities
$226,253,590.58
1.544%
74.83%
1.16%
Total
$302,337,731.03
1.465%
100.00%
1.465%
FISCAL IMPACT
There is no fiscal impact associated with this action.
Submitted By: Kathryn Downs, CPA, Executive Director — Finance and Management Services
Agency
Exhibit: 1. Treasurer's Report
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