HomeMy WebLinkAbout19D - QRTLY RPT INVESTMENTSREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
NOVEMBER 19, 2019
TITLE:
RECEIVE AND FILE QUARTERLY REPORT
OF INVESTMENTS AS OF SEPTEMBER 30,
2019
{STRATEGIC PLAN NO. 4, 1D}
/s/ Kristine Ri
CITY MANAGER
RECOMMENDED ACTION
CLERK OF COUNCIL USE ONLY:
APPROVED
❑
As Recommended
❑
As Amended
❑
Ordinance on 1sl Reading
❑
Ordinance on god Reading
❑
Implementing Resolution
❑
Set Public Hearing For
CONTINUED TO
911:8011111V1.101N
Receive and file quarterly report of investments as of September 30, 2019.
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 submitted the Report via email for review and distribution to the
City Council in advance. The report was emailed for distribution on October 25, 2019. The
legislation specifies that this quarterly report contain the seven major elements listed below:
2.
3.
4.
5.
6.
Type of investments,
Date of maturity,
Par and dollar amounts
invested in each security,
Weighted average maturity of the investments,
Market value as of the date of the report,
Source of the market value information, and
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, 2019.
Quarterly Report of Investments
November 19, 2019
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, 2019.
Type of Investment
Amount Invested $
o
Portfolio /
COSA Policy
o
Limits �
State Law
0
Limits �
Certificate of Deposit (CD)
$1,982,000.00
0.73%
30%
30%
Federal Farm Credit Bank (FFCB)
$47,385,610.25
17.25%
None
None
Federal Home Loan Bank (FHLB)
$79,013,485.45
28.76%
None
None
Federal Home Loan Mortgage Corp. (FHLMC)
$86,951,609.60
31.65%
None
None
Federal National Mortgage Association (FNMA)
$29,957,210.00
10.91%
None
None
Local Agency Investment Fund (LAIF)
$29,402,572.15
10.70%
None
None
sub -Total
$274,692,487.45
100%
Cash
$24,662,003.49
Total
$299,354,490.94
Restricted Cash
In-$
Restricted Cash t,
$4,479,629.27
Total
$4,479,629.27
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)
Quarterly Report of Investments
November 19, 2019
Page 3
The following City investment portfolio graph represents percentages within the respective
investment types as of September 30, 2019.
CD City of Santa Ana
73% Investment Portfolio Asset Allocation
FNMA
10.91%
LAIF
10.70
FHLMC
31.65%
September 30, 2019
■ 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 two tables represent, as of September 30, 2019: (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 2.033%
Breakdown by Type of
Investment
Par Value
of Investments
Yield to
Maturity
% of
Portfolio
Average Market Yield
to Date
Certificate of Deposits
$1,982,000.00
1.743%
0.73%
0.01%
LAIF
$29,402,572.15
2.341%
10.70%
0.25%
Federal Agency Securities
$243,307,915.30
1.999%
88.57%
1.77%
Total
$274,692,487.45
2.034%
1 100.00%
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
Quarterly Report of Investments
November 19, 2019
Page 4
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. Treasurer's Report
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