HomeMy WebLinkAbout19C - QUARTERLY REPORT INVESTMENTSREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
NOVEMBER 7, 2017
TITLE:
RECEIVE AND FILE QUARTERLY REPORT
OF INVESTMENTS AS OF SEPTEMBER 30,
2017
(STRATEGIC PLAN NO. 4, 1D)
CIV MANAGER
RECOMMENDED ACTION
Receive and file.
DISCUSSION
CLERK OF COUNCIL USE ONLY:
APPROVED
❑ As Recommended
❑ As Amended
❑ Ordinance on 1s' Reading
❑ Ordinance on 2"d 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 September 30, 2017.
19C-1
Quarterly Report of Investments
November 7, 2017
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, 2017.
Type of Investment
Amount Invested $
Portfolio %
COSA Policy
Limits %
State Law
Limits %
Certificate of Deposit (CD)
$6,924,000.00
2.44%
30%
30%
Federal Farm Credit Bank (FFCB)
$66,492,550.00
23.39%
None
None
Federal Home Loan Bank (FHLB)
$69,074,316.33
24.30%
None
None
Federal Home Loan Mortgage Corp. (FHLMC)
$53,222,035.00
18.72%
None
None
Federal National Mortgage Association (FNMA)
$72,923,730.00
25.65%
None
None
Local Agency Investment Fund (LAIF)
$15,644,855.54
5.50%
None
None
Sub -Total
$284,281,486.87
100.00%
Cash
$15,813,454.60
Total
$300,094,941.47
Restricted Cash
In $
Restricted Cash t
$12,411,497.89
Total
$12,411,497.89
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 September 30, 2017.
City of Santa Ana
Investment Portfolio Asset Allocation
September 30, 2017
LAIF CD
5.5% 2.44%
■ Certificate of Deposit (CD)
■ Federal Home Loan Bank (FHLB)
■ Federal Farm Credit Bank (FFCB)
■ Federal Home Loan Mortgage Corp. (FHLMC)
■ Federal National Mortgage Association (FNMA) ■ Local Agency Investment Fund (LAIF)
19C-2
Quarterly Report of Investments
November 7, 2017
Page 3
The following three tables represent, as of September 30, 2017: (1) the aggregate Effective Rate
of Return on the City's investment portfolio, both month to date (MTD) and year to date (YTD);
(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) 1.26%
Year To Date (YTD) 1.24%
Aggregate Average Market Yield To Date
Average Month To Date (AMTD) 1.396%
AMTD Breakdown by
Type of Investment
Par Value
of Investments
Yield to
Maturity
% of
Portfolio
Average Market Yield
to Date
Certificate of Deposits
$6,679,000.00
1.392%
2.35%
0.033%
LAIF
$15,644,855.54
1.084%
5.50%
0.060%
Federal Agency Securities
$261,712,631.33
1.415%
92.06%
1.303%
Negotiable Certificates
$245,000.00
0.851%
0.09%
0.001%
Total
$284,281,486.87
100.00%
1.396%
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
Exhibit: 1. Treasurer's Report
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