HomeMy WebLinkAbout19D - QUART REPORT OF INVESTMENTSREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
FEBRUARY 20, 2018
TITLE:
RECEIVE AND FILE QUARTERLY REPORT
OF INVESTMENTS AS OF DECEMBER 31,
2017
(STRATEGIC PLAN NO. 4, 1D)
t�
CI MANAGER
RECOMMENDED ACTION
CLERK OF COUNCIL USE ONLY:
APPROVED
❑ As Recommended
❑ As Amended
❑ Ordinance on 1� Reading
❑ Ordinance on 2nd Reading
❑ Implementing Resolution
❑ Set Public Hearing For
CONTINUED TO
FILE NUMBER
Receive and file the quarterly report of investment as of December 31, 2017.
DISCUSSION
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.
19D-1
Quarterly Report of Investments
February 20, 2018
Page 2
The attached Treasurer's Report (Exhibit 1) accurately reflects all pooled investments held on
behalf of the City as of December 31, 2017.
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 December 31, 2017.
Type of Investment
Amount Invested $
Portfolio %
COSA Policy
Limits %
State Law
Limits %
Certificate of Deposit (CD)
$4,211,000.00
1.56%
30%
30%
Federal Farm Credit Bank (FFCB)
$63,499,150.00
23.49%
None
None
Federal Home Loan Bank (FHLB)
$53,694,216.33
19.87%
None
None
Federal Home Loan Mortgage Corp. (FHLMC)
$43,222,035.00
15.99%
None
None
Federal National Mortgage Association (FNMA)
$72,923,730.00
26.98%
None
None
Local Agency Investment Fund (LAIF)
$32,732,249.90
12.11%
None
None
Sub -Total
$270,282,381.23
100.00%
None
None
Cash
$15,150,972.25
Total
$285,433,353.48
Restricted Cash
In $
Restricted Cash t
$12,260,201.55
Total
$12,260,201.55
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 December 31, 2017.
City of Santa Ana
Investment Portfolio Asset Allocation
Dec 31, 2017
LAW CD
156%
■ Certificate of Deposit (CD)
■ Federal Home Loan Bank (FHLB)
■ Federal National Mortgage Association (FNMA)
■ Federal Farm Credit Bank (FFCB)
■ Federal Home Loan Mortgage Corp. (FHLMC)
■ Local Agenq Investment Fund (LAIF)
19D-2
}
Quarterly Report of Investments
February 20, 2018
Page 3
The following three tables represent, as of December 31, 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 ofRet urn
Month To Date (MTD) 1.28%
Year To Date (YTD) 1.26%
Aggregate Average Market Yield To Date
Average Month To Date (AMTD) 1 1.41%
AMID Breakdown by
Type of Investment
Par Value
of Investments
Yield to
Maturity
% of
Portfolio
Average Market
Yield to Date
Certificate of Deposits
$4,211,000.00
1.650%
1.56%
0.026%
LAIF
$32,732,249.90
1.230%
12.11%
0.149%
Federal Agency Securities
$233,339,131.33
1.431%
86.33%
1.235%
Total
$270,282,381.23
100.00%
1.410%
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
tF.,
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