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HomeMy WebLinkAbout19C - QRTLY RPT OF INVESTMENTSREQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: MAY 2, 2017 TITLE: QUARTERLY REPORT OF INVESTMENTS AS OF MARCH 31, 2017 (STRATEGIC PLAN NO. 4, 1 D) RECOMMENDED ACTION Receive and file. DISCUSSION ❑ 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. 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. The attached Treasurer's Report (Exhibit 1) accurately reflects all pooled investments held on behalf of the City as of March 31, 2017. 19C -1 Quarterly Report of Investments May 2, 2017 Page 2 The following table represents percentage policy limits set by the City's Investment Policy and State Law and respective types, amounts and percentages, as of March 31, 2017. Type of Investment in $ in % COSA Policy Limits State Law Limits Certificate of Deposit (CD) $8,157,622.95 2.64% 30% 30% Federal Farm Credit Bank (FFCB) $64,492,550.00 20.87% None None Federal Home Loan Bank (FHLB) $71,082,236.38 23.00% None None Federal Home Loan Mortgage Corp. (FHLMC) $54,902,245.00 17.77% None None Federal National Mortgage Association (FNMA) $72,923,730.00 23.60% None None Local Agency Investment Fund (LAIF) $37,435,728.00 12.12% None None Sub -Total $308,994,112.33 100.00% None None Cash $23,041,781.10 Total $332,035,893.43 Restricted Cash in $ Restricted Cash $13,106,325.28 Total 13,106,325.28 t Restricted cash is held by Trustee, Bank of New York Mellon and is segregated from cash used ford a ily operations. The following graph represents percentages within the respective investment types, as of March 31. 2017. City of Santa Ana Investment Portfolio Asset Allocation March 31, 2017 LAIF CD 12.12% 2.64% ■ Certificate of Deposit (CD) ■ Federal Farm Credit Bank (FFCB) ® Federal Home Loan Bank (FHLB) in Federal Home Loan Mortgage Corp. (FHLMC) ■ Federal National Mortgage Association (FNMA) Local Agency Investment Fund (LAIF) 19C -2 Quarterly Report of Investments May 2, 2017 Page 3 Effective Rate of Return: Month To Date (MTD) 1.11% Year To Date (YTD) 1.03% 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. Francisco Gutierrez Executive Director Finance and Management Services Agency rp Exhibit: 1. Treasurer's Report 19C -3 19C -4 r O Q0 M r 0 . 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