HomeMy WebLinkAboutFin SA Investment Report 2016.06crrr aF Agenda Item No: SA.1.a Meeting Date: August 1, 2016 SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY AGENDA REPORT Department: FINANCE Prepared by: Van Bach, City Manager Approval: Accounting Manager SUBJECT: QUARTERLY INVESTMENT REPORT RECOMMENDATION: ACCEPT INVESTMENT REPORT FOR THE QUARTER ENDING JUNE 30, 2016, AS PRESENTED BACKGROUND: Pursuant to the State of California Government Code Section 53601 and the City's investment policy, last reviewed and approved by the Board on June 20, 2016, staff provides the governing body a periodic report on the Successor Agency's investment activities. The report outlines the investment activity for the preceding quarter. Included on the report are the cost of each investment, the interest rates (yield), maturity dates, and market value. ANALYSIS: The proceeds of the 1999, 2002 and 2009 Tax Allocation Refunding Bonds are invested with the Local Agency Investment Fund (LAIF) for future projects or administrative costs. The ending cash balance of this investment account at quarter end was $715,154. The quarterly return on the account was 0.58%. The Successor Agency checking account, which contains mostly bond proceeds and some operating funds, had a balance of $2,044,446.16 at quarter -end. FISCAL IMPACT: No financial impact occurs by adopting the report. The Successor Agency continues to meet the priority principles of investing - safety, liquidity and yield in this respective order. The portfolio remains conservatively invested. RECOMENDATION: Accept and file the investment report as presented. Attachment: Successor Agency Cash & Investment Reports April through June 2016. FOR AGENCY SECRETARY ONLY File No.: SA Financial Reports / Policv Agency Meeting: 08/01/2016 Disposition: Accepted report SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY REPORT / Paize: 2 TREASURER'S CERTIFICATION I CERTIFY THAT ALL INVESTMENTS MADE ARE IN CONFORMANCE WITH SUCCESSOR AGENCY'S APPROVED INVESTMENT POLICY AND STATE INVESTMENT REGULATIONS. THE SUCCESSOR AGENCY HAS SUFFICIENT LIQUIDITY TO MEET ALL OF THE OBLIGATIONS REQUIRED DURING THE NEXT SIX-MONTH PERIOD, SUBJECT TO OVERSIGHT BOARD APPROVAL OF OBLIGATIONS AND THE SUBSQUENT TIMELY COUNTY DISBURSEMENT OF FUNDS. MARK MOSES FINANCE DIRECTOR Market Value $4,000,000.00 $3,500,000.00 $3,000,000.00 $2,500,000.00 $2,000,000.00 $1,500,000.00 $1,000,000.00 $500,000.00 July August September October November December January February March April May June © Fiscal Year 12/13 []Fiscal Year 13/14 ❑ Fiscal Year 14/15 ■ Fiscal Year 15/16 SUCCESSOR AGENCY TO SAN RAFAEL REDEVELOPMENT AGENCY CASH and INVESTMENTS 4/30/16 PURCHASE MATURITY YIELDS PURCHASE PAR MARKET ISSUER TYPE DATE DATE PRICE VALUE VALUE' elil�/�:7►�1�►l�P�r [H�►�[y7[►YCYIlx.7 Total Custodial Investments MANAGED POOL ACCOUNTS: 2002 TAX ALLOCATION Days to % OF Maturity TOTAL 0.00% REFUNDING BONDS* SP OPEN OPEN 0.53 $ 715,154.01 $ 715,154.01 $ 715,154.01 1 STATE POOL' SP OPEN OPEN 1 U. S. BANK 1999 PROJECT SERIES OPEN OPEN - $ - $ - $ - UNION BANK -JPA 2003A IMPROVEMENTFUND OPEN OPEN - $ - $ - $ - 1 3 $ 715,154.01 $ 715,154.01 $ 715,154.01 47.57% TOTAL INVESTMENTS 3 715,154.01 715,154.01 715,154.01 CASH ACCOUNTS: WESTAMERICA* DD N/A N/A $ 788,225.16 $ 788,225.16 $ 788,225.16 1 52.43% TOTAL CASH & INVESTMENTS $ 1,503,379.17 $ 1,503,379.17 $ 1,503,379.17 100.00% % Portfolio held 1 year or less 100% 1 year 2 years 3 years 4 years 5 vears or more $ 1,503,379 $ - $ - $ - $ Source = safekeeping agent TYPE: Weighted average days to maturity BA = Bankers Acceptance ' Annualized yield to Market DD = Demand Deposit (Checking) " based on PAR Value GA = Government Agency Market Yield NT = Medium Term Note TN = US Treasury Note ".... "" °c c " r� " "" ° 1 e GIC - Guaranteed Investment Contract SP - State Pool - various instruments Transferred to City of San Rafael as Successor Agency to the San Rafael Redevelopment Agency State Pool -holding Housing Funds is now with the City's portfolio W:\Cash Management and Treasury\Investments\RDA Worksheets\RDA 15-16.x1s SUCCESSOR AGENCY TO SAN RAFAEL REDEVELOPMENT AGENCY CASH and INVESTMENTS 5/31/16 PURCHASE MATURITY YIELDS PURCHASE PAR MARKET ISSUER TYPE DATE DATE PRICE VALUE VALUE' elil�/�:7►�1�►l�P�r [H�►�[y7[►YCYIlx.7 Total Custodial Investments MANAGED POOL ACCOUNTS: 2002 TAX ALLOCATION Days to % OF Maturity TOTAL 0.00% REFUNDING BONDS* SP OPEN OPEN 0.55 $ 715,154.01 $ 715,154.01 $ 715,154.01 1 STATE POOL' SP OPEN OPEN 1 U. S. BANK 1999 PROJECT SERIES OPEN OPEN - $ - $ - $ - UNION BANK -JPA 2003A IMPROVEMENTFUND OPEN OPEN - $ - $ - $ - 1 3 $ 715,154.01 $ 715,154.01 $ 715,154.01 47.57% TOTAL INVESTMENTS 3 715,154.01 715,154.01 715,154.01 CASH ACCOUNTS: WESTAMERICA* DD N/A N/A $ 788,225.16 $ 788,225.16 $ 788,225.16 1 52.43% TOTAL CASH & INVESTMENTS $ 1,503,379.17 $ 1,503,379.17 $ 1,503,379.17 100.00% % Portfolio held 1 year or less 100% 1 year 2 years 3 years 4 years 5 vears or more $ 1,503,379 $ - $ - $ - $ Source = safekeeping agent TYPE: Weighted average days to maturity BA = Bankers Acceptance ' Annualized yield to Market DD = Demand Deposit (Checking) " based on PAR Value GA = Government Agency Market Yield NT = Medium Term Note TN = US Treasury Note ".... "" °c c " r� " "" ° 1 e GIC - Guaranteed Investment Contract SP - State Pool - various instruments Transferred to City of San Rafael as Successor Agency to the San Rafael Redevelopment Agency State Pool -holding Housing Funds is now with the City's portfolio W:\Cash Management and Treasury\Investments\RDA Worksheets\RDA 15-16.x1s SUCCESSOR AGENCY TO SAN RAFAEL REDEVELOPMENT AGENCY CASH and INVESTMENTS 6/30/16 PURCHASE MATURITY YIELDS PURCHASE PAR MARKET Days to % OF ISSUER TYPE DATE DATE PRICE VALUE VALUE' Maturity TOTAL GOVERNMENT AGENCY ISSUES: - 0.00% Total Custodial Investments - - - MANAGED POOL ACCOUNTS: 2002 TAX ALLOCATION REFUNDING BONDS* SP OPEN OPEN 0.58 $ 715,154.01 $ 715,154.01 $ 715,154.01 1 STATE POOL' SP OPEN OPEN 1 U. S. BANK 1999 PROJECT SERIES OPEN OPEN - $ - $ - $ - UNION BANK -JPA 2003A IMPROVEMENTFUND OPEN OPEN - $ - $ - $ - 1 3 $ 715,154.01 $ 715,154.01 $ 715,154.01 25.92% TOTAL INVESTMENTS 3 715,154.01 715,154.01 715,154.01 CASH ACCOUNTS: WESTAMERICA* DD N/A N/A $ 2,044,446.16 $ 2,044,446.16 $ 2,044,446.16 1 74.08% TOTAL CASH & INVESTMENTS $ 2,759,600.17 $ 2,759,600.17 $ 2,759,600.17 100.00% % Portfolio held 1 year or less 100% 1 year 2 years 3 years 4 years 5 vears or more $ 2,759,600 $ - $ - $ - $ Source = safekeeping agent TYPE: Weighted average days to maturity BA = Bankers Acceptance ' Annualized yield to Market DD = Demand Deposit (Checking) " based on PAR Value GA = Government Agency Market Yield NT = Medium Term Note TN = US Treasury Note ".... "" °c c " r� " "" ° 1 e GIC - Guaranteed Investment Contract SP - State Pool - various instruments Transferred to City of San Rafael as Successor Agency to the San Rafael Redevelopment Agency State Pool -holding Housing Funds is now with the City's portfolio W:\Cash Management and Treasury\Investments\RDA Worksheets\RDA 15-16.x1s ROUTING SLIP / APPROVAL FORM INSTRUCTIONS: Use this cover sheet with each submittal of a staff report before approval by the City Council. Save staff report (including this cover sheet) along with all related attachments in the Team Drive (T:) --> CITY COUNCIL AGENDA ITEMS 4 AGENDA ITEM APPROVAL PROCESS 4 [DEPT - AGENDA TOPIC] Agenda Item # Date of Meeting: 8/1/2016 From: Mark Moses/Van Bach Department: Finance Date: 7/22/2016 Topic: SA -QUARTERLY INVESTMENT REPORT Subject: SA -QUARTERLY INVESTMENT REPORT Type: ❑ Resolution ❑ Ordinance ❑ Professional Services Agreement ❑ Other: APPROVALS ® Finance Director Remarks: Ready for City Manager's approval ® City Attorney Remarks: ® Author, review and accept City Attorney / Finance changes Remarks: N/A ® City Manager Remarks: