HomeMy WebLinkAbout19C - RECEIVE AND FILE INVESTMENT REPORTREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
NOVEMBER 17, 2020
CLERK OF COUNCIL USE ONLY:
TITLE:
APPROVED
❑ As Recommended
RECEIVE AND FILE QUARTERLY REPORT
El Amended
❑ Ordinance on Reading
OF INVESTMENTS AS OF SEPTEMBER 30,
❑ 2n
Ordinance on d Reading
2020
❑ Implementing Resolution
❑ Set Public Hearing For_
CONTINUED TO
/s/ Kristine Ridge FILE NUMBER
CITY MANAGER
RECOMMENDED ACTION
Receive and file.
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, the Finance and
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 26, 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 September 30, 2020.
19C-1
Quarterly Report of Investments
November 17, 2020
Page 2
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, 2020.
COSA
Type of Investment
Amounts
Portfolio
Policy
State Law
Invested $
/o
Limits
Limits /o
Certificate of Deposit (CD)
$1,240,000.00
0.42%
30%
30%
Federal Farm Credit Bank (FFCB)
$27,711,710.25
9.31%
None
None
Federal Home Loan Bank (FHLB)
$31,152,608.33
10.47%
None
None
Federal Home Loan Mortgage Corp.
$79 291,250.00
26.64%
None
None
FHLMC
Federal National Mortgage
$70,201,540.00
23.59%
None
None
Association FNMA
Local Agency Investment Fund
$74,621,678.92
25.07%
None
None
LAI F
CARES Local Agency Investment
$13,417,104.00
°
4.51/o
Fund LAIF
Sub- Total
$297,635,891.50
100%
None
None
Cash
$21,069,174.36
Total
$318,705,065.86
Restricted Cash
In $
Restricted Cash t, 1
$120,640.97
Total
1 $120, 640.97
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 September 30, 2020.
19C-2
Quarterly Report of Investments
November 17, 2020
Page 3
City of Santa Ana
Investment Portfolio Asset Allocation
Septemlaer 3C6?020
LAIF(CARE5)4.51% •42 / �9,31%
FHUB
\ i
LAIF � `10.470.47%
25.07%
FHLMC
FNMA 26.64%
23.59%
! Certificate of Deposit
Federal Farm Credit Bank
(FFCB)
Federal Home Loan Bank
(FHLB)
Federal Home Loan
Mortgage Corp. (FHLMC)
The following two tables represent, as of September 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) 1.098%
Investments
Par Value of
Investments
YTM
% of
Portfolio
Certificate of Deposits
$1,240,000.00
1.630%
0.42%
0.007%
LAIF
$74,621,678.92
0.685%
25.07%
0.172%
LAIF CARES
$13,417,104.00
0.685%
4.51%
0.031%
Federal Agency
Securities
$208,357,108.58
1.269%
70.00%
0.888%
$297,635,891.50
1.098%
100.00%
1.098%
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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