HomeMy WebLinkAboutFin SA Investment Report 2016.03SAN RAFAE L Agenda Item No: SA.1.a THE CITY WITH A MISSION Meeting Date: November 7, 2016 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 SEPTEMBER 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: Following the issuance of the Finding of Completion by the Department of Finance and the approval of the FY2016-2017 Recognized Enforceable Obligation Schedules (ROPS), the Successor Agency transferred remaining bond proceeds of $1.9 million to the City funds for qualifying capital improvements. This transfer was executed in August 2016. The Successor Agency checking account, which now contains only operating funds, had a balance of $233,949 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 July through September 2016 FOR AGENCY SECRETARY ONLY File No.: SA Financial Reports / Policv Agency Meeting: 11/07/2016 Disposition: Accepted report SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY REPORT / Page: 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 $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 13/14 []Fiscal Year 14/15 ❑ Fiscal Year 15/16 ■ Fiscal Year 16/17 SUCCESSOR AGENCY TO SAN RAFAEL REDEVELOPMENT AGENCY CASH and INVESTMENTS 7/31/16 PURCHASE MATURITY YIELDS PURCHASE PAR MARKET ISSUER TYPE DATE DATE PRICE VALUE VALUE' GOVERNMENT AGENCY ISSUES Total Custodial Investments MANAGED POOL ACCOUNTS 2002 TAX ALLOCATION REFUNDING BONDS* SP OPEN OPEN STATE POOL' SP OPEN OPEN U. S. BANK 1999 GA = Government Agency Market Yield PROJECT SERIES OPEN OPEN UNION BANK -JPA 2003A GIC - Guaranteed Investment Contract IMPROVEMENT FUND OPEN OPEN TOTAL INVESTMENTS Days to % OF Maturity TOTAL 0.00% 1 0.00% CASH ACCOUNTS: WESTAMERICA' DD N/A N/A $ 2,179,446.16 $ 2,179,446.16 $ 2,179,446.16 1 100.00% TOTAL CASH & INVESTMENTS $ 2,179,446.16 $ 2,179,446.16 $ 2,179,446.16 100.00% % Portfolio held 1 year or less 100% 1 year 2 years 3 years 4 years 5 vears or more $ 2,179,446 $ $ - $ - $ ' 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 3 $ _ $ $ _ 3 GIC - Guaranteed Investment Contract Days to % OF Maturity TOTAL 0.00% 1 0.00% CASH ACCOUNTS: WESTAMERICA' DD N/A N/A $ 2,179,446.16 $ 2,179,446.16 $ 2,179,446.16 1 100.00% TOTAL CASH & INVESTMENTS $ 2,179,446.16 $ 2,179,446.16 $ 2,179,446.16 100.00% % Portfolio held 1 year or less 100% 1 year 2 years 3 years 4 years 5 vears or more $ 2,179,446 $ $ - $ - $ ' 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 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 16-17.xls SUCCESSOR AGENCY TO SAN RAFAEL REDEVELOPMENT AGENCY CASH and INVESTMENTS 8/31/16 PURCHASE MATURITY YIELDS PURCHASE PAR MARKET ISSUER TYPE DATE DATE PRICE VALUE VALUE' GOVERNMENT AGENCY ISSUES Total Custodial Investments MANAGED POOL ACCOUNTS 2002 TAX ALLOCATION REFUNDING BONDS* SP OPEN OPEN STATE POOL' SP OPEN OPEN U. S. BANK 1999 233,949.07 $ 233,949.07 1 100.00% TOTAL CASH & INVESTMENTS PROJECT SERIES OPEN OPEN UNION BANK -JPA 2003A GA = Government Agency Market Yield IMPROVEMENT FUND OPEN OPEN TOTAL INVESTMENTS GIC - Guaranteed Investment Contract Days to % OF Maturity TOTAL 0.00% 1 0.00% CASH ACCOUNTS: 100% 1 year 2 Years WESTAMERICA' DD N/A N/A $ 233,949.07 $ 233,949.07 $ 233,949.07 1 100.00% TOTAL CASH & INVESTMENTS 3 $ _ $ $ _ 3 GA = Government Agency Market Yield Days to % OF Maturity TOTAL 0.00% 1 0.00% CASH ACCOUNTS: 100% 1 year 2 Years WESTAMERICA' DD N/A N/A $ 233,949.07 $ 233,949.07 $ 233,949.07 1 100.00% TOTAL CASH & INVESTMENTS $ 233,949.07 $ 233,949.07 $ 233,949.07 100.00% % Portfolio held 1 year or less 3 years 4 years 5 vears or more W:\Cash Management and Treasury\Investments\RDA Worksheets\RDA 16-17.xls 100% 1 year 2 Years $ 233,949 $ 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 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 3 years 4 years 5 vears or more W:\Cash Management and Treasury\Investments\RDA Worksheets\RDA 16-17.xls SUCCESSOR AGENCY TO SAN RAFAEL REDEVELOPMENT AGENCY CASH and INVESTMENTS 9/30/16 PURCHASE MATURITY YIELDS PURCHASE PAR MARKET ISSUER TYPE DATE DATE PRICE VALUE VALUE' GOVERNMENT AGENCY ISSUES Total Custodial Investments MANAGED POOL ACCOUNTS 2002 TAX ALLOCATION REFUNDING BONDS* SP OPEN OPEN STATE POOL' SP OPEN OPEN U. S. BANK 1999 233,949.07 $ 233,949.07 1 100.00% TOTAL CASH & INVESTMENTS PROJECT SERIES OPEN OPEN UNION BANK -JPA 2003A GA = Government Agency Market Yield IMPROVEMENT FUND OPEN OPEN TOTAL INVESTMENTS GIC - Guaranteed Investment Contract Days to % OF Maturity TOTAL 0.00% 1 0.00% CASH ACCOUNTS: 100% 1 year 2 Years WESTAMERICA' DD N/A N/A $ 233,949.07 $ 233,949.07 $ 233,949.07 1 100.00% TOTAL CASH & INVESTMENTS 3 $ _ $ $ _ 3 GA = Government Agency Market Yield Days to % OF Maturity TOTAL 0.00% 1 0.00% CASH ACCOUNTS: 100% 1 year 2 Years WESTAMERICA' DD N/A N/A $ 233,949.07 $ 233,949.07 $ 233,949.07 1 100.00% TOTAL CASH & INVESTMENTS $ 233,949.07 $ 233,949.07 $ 233,949.07 100.00% % Portfolio held 1 year or less 3 years 4 years 5 vears or more W:\Cash Management and Treasury\Investments\RDA Worksheets\RDA 16-17.xls 100% 1 year 2 Years $ 233,949 $ 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 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 3 years 4 years 5 vears or more W:\Cash Management and Treasury\Investments\RDA Worksheets\RDA 16-17.xls 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: 11/7/2016 From: Mark Moses Department: Finance Date: 11/7/2016 Topic: SA -QUARTERLY INVESTMENT REPORT Subject: SA -QUARTERLY INVESTMENT REPORT Type: ❑ Resolution ❑ Ordinance ❑ Professional Services Agreement ❑ Other: APPROVALS ® Finance Director Remarks: ® City Attorney Remarks: LG -Approved 10/24/16 ® Author, review and accept City Attorney / Finance changes Remarks: MM for Van ® City Manager Remarks: