CITY OF~ MIRAG~
~ ~
STAFF REPORT
TO: Mayor and City Council DATE: August 17, 2023
FROM: Isaiah Hagerman, City Manager/City Treasurer
Joseph E. Carpenter, Senior Manager Finance and Human Resources SUBJECT: June 30, 2023 Quarterly Treasurer's Report
SPECIFIC REQUEST OR RECOMMENDATION
That the City Council Receive and File the June 30, 2023 Quarterly Treasurer's Report.
JUSTIFICATION OR INFORMATION
Attached is the Quarterly Treasurer's Report for the quarter ending June 30, 2023. This report is submitted to City Council for the purpose of providing detailed information over all monies overseen by the City Treasurer.
A provision of the Statement of Investment Policy readopted February 16, 2023 via Resolution 2023-06 pertains to investment reporting to City Council on a quarterly basis (Section VIII). It is the City's policy to achieve a market rate of return on public funds while minimizing risks and preserving capital. City Investments are analyzed on a Total Return basis. Total Return takes into account interest income , realized gains and losses, and unrealized gains and losses due to change in market value during the period measured. When portfolios have unrealized losses, total returns will be lower.
The City's Total Return is compared to the Bank of America Merrill Lynch 1-5 Year U.S. Treasury Index, the table below summarizes the comparison.
Total Return for Periods Ending June 30 , 2023
Duration Past Quarter Past 6 Months Past Year
(years) (Unannualized) (Unannualized) (Annualized)
City of Rancho Mirage 2.43 -0 .56% 1.27% 0 .12%
Bank of America Merrill Lynch 1 2 .50 -0 .86% 0.94% -0.43% 5 Year U.S. Treasury Index It should be noted the City realized $412,114.26 in quarterly earnings -see Page 5 of this staff report for details.
AGENDA ITEM# 11-1
DATE:August17,2023 Page 2 of 2
June 30, 2023 Quarterly Treasurer's Report
JUSTIFICATION OR INFORMATION CONTINUED
Definitions:
Total Return: Total return takes into account interest income, realized gains and losses , and unrealized gains and losses due to change in market value during the period measured.
Duration: Duration is the percentage change in the price of a security for a 1 % change in the security's yield .
Yield: Yield to maturity is a forward-looking earnings indicator that assumes all coupons will be reinvested at the security's yield.
RECOMMENDATION:
That the City Council Receive and File the June 30, 2023 Quarterly Treasurer's Report.
ATTACHMENT(S):
1. June 30, 2023 Quarterly Treasurer's Report
2. 45 Day Reporting Requirement
AGENDA ITEM#
11-2
ATTACHMENT 1
JUNE 30, 2023 QUARTERLY TREASURER'S REPORT
(SEE ATTACHED)
11-3
City of Rancho M irage
Investment Summary
as of June 30 , 2023
Average Origina l
Sector Maturi!}' Par Amount Cost Adjusted Cost
Ci~ oeeratinll Funds
Checking Account 1 Day 5 ,064 ,989 .61 5,064 ,989.61 5,064 ,989 .61 First American Treasury Fund 1 Day 94 ,808.14 94 ,808.14 94 ,808 .14 RMEA Lockbox 1 Day 2,336 ,118 .90 2 ,336 ,118.90 2 ,336 ,118.90 RMEA River ICS Sweep 1 Day 909 ,938 .29 909 ,938 .29 909 ,938 .29 CAMP 1 Day 7 ,221 ,603.20 7 ,221 ,603.20 7 ,221 ,603 .20 LAIF -City 1 Day 1,037 ,695 .71 1,037 ,695 .71 1,037 ,695 .71 U.S. Treasuries 2.92 Years 53 ,910 ,000 .00 53,569 ,275.43 53,562,734 .23 Federal Agencies 1.41 Years 23,435,000.00 23 ,592 ,190.10 23,421 ,237 .26 Corporate Notes 3.48 Years 11,755,000 .00 11,464 ,990 .05 11 ,518 ,955 .1 4 Municipal Bonds 4 .88 Years 205 ,000 .00 205 ,000 .00 205 ,000 .00 Citt, Oe,eratinfl. Total 2.17 Years 105,970,153.85 105,496,609.43 105,373,080.48 Successor A enc
First American Treasury Fund 1 Day 95 ,274 .11 95,274.11 95 ,274 .11 LAIF -Successor Agency 1 Day 8,024 ,137.12 8,024 ,137.12 8,024 ,137 .12 U .S. Trea suries 0.93 Years 1,765 ,000 .00 1,776,710 .36 1,724 ,095 .80 Federal Aaencies 1.38 Years 1,150 ,000 .00 1,148,231 .55 1,149,192.35 Successor A2 enci!:'. Total 104 Da~s 11,034,411 .23 11,044,353.14 10,992,699.38 Ci~ Assessment District Bond Funds
First American Treasury Fund 1 Days 2,009 ,455 .13 2,009,455.13 2 ,009,455 .13 Assessment District Total 0.00 Years 2,009,455.13 2,009,455.13 2,009,455.13 Grand Total 1.95 Years 119,014,020.21 118,550,417.70 118,375,234.99 Markel prices are derived from dosing bid prices as of the last business day of the month as supplied by Interactive Data, Bloomberg or Telerate. \/Vhere prices are not available f rom generally recognized sources the securities are price d using a yield-based matrix syste m to arri ve at an estimated market value. Prices that fall between data points are interpolated.
Yie ld to
Market Va lue Coueon Maturity
5,064,989.61 0.00 % 0 .00 %
94 ,808 .14 4.56 % 4 .56 %
2 ,336,118.90 0.00 %
909 ,938 .29 2.99 %
7 ,221,603.20 5.24 %
1,037 ,695.71 3.15 % 3.15 %
50,628 ,051 .59 1.80 % '1.96 %
22 ,114 ,211 .83 1.12% 0.96 %
11 ,254,456.89 3.41 % 4 .02 %
204 ,106.20 4 .51 % 4 .51 %
100 ,865,980.36 2.09%
95,274.11 2.39 % 2 .39 %
8,024 ,137.12 3.15% 3.15%
1,708 ,264.79 2.26 % 1.45 %
1,081,079.45 0.33 % 0.35%
10,908,755.47 2.60%
2 ,009 ,455 .13 3.61 %
2,009,455.13 3.61%
113,784,190.96 2.17%
11-4
City of Rancho Mirage
Quarterly Earnings and Investment Maturity Distribution as of June 30, 2023
Earnings Summary (Accrual Basis)
PFM-Managed Portfolio
Ending Amortized Value of Securities
Ending Accrued Interest
Plus Proceeds from Sales
Plus Proceeds of Maturities/Calls/Principal Payments
Plus Coupons Received
Less Cost of New Purchases
Less Beginning Amortized Value of Securities
Less Beginning Accrued Interest
CAMP
LAIF
ICS Sweep
Successor Agency
Portfolio Subtotal
CAMP Subtotal
LAIF Subtotal
/CS Sweep Subtotal
Successor Agency Subtotal
Grand Total
City Operating Funds Investment Maturity Distribution
88,707,926.63
405,045.80
7,049,150.38
341,873.08
(7,372,172.57)
(88,486,545.06)
(369,410 .74)
$275,867.52
$63,020.85
$63,238.75
$2,197.54
$7,789.60
$412,114.26
40% ~----------------------------------,
35%
30%
25%
20%
15%
10%
5%
17% 16%
_____________ 14o/JL ___________ _
Overnight Under 1 Year 1 to 2 Years
24%
---------------------------------------1-ao/4--------
-------------12%-------------
2 to 3 Years 3 to 4 Years 4 to 5 Years
11-5
City of Rancho Mirage
Investment Detail
as of June 30 , 2023
S&P Days to Par Orig inal Adjusted Market Yield to
Issuer Rating Coueon Maturi!}'. Purchased Matur!!}'. Amount Cost Cost Value Matur!!}'.
Checking Account -Bank of America NR 0 .00% 7/1 /23 6/30/23 1 5 ,064 ,989 .61 5 ,064 ,989 .61 5,064,989 .61 5 ,064,989 .61 0.00% First American Treasury Oblig . Fund NR 4 .56% 7/1/23 6/30/23 1 94 ,808 .14 94 ,808 .14 94 ,808 .14 94 ,808.14 4 .56% RMEA Lockbox NR 0 .00 % 7/1/23 6/30/23 1 2 ,336,118.90 2,336,118 .90 2,336,118.90 2 ,336 ,118.90 0 .00% RMEA ICS Sweep NR 2 .99 % 7/1/23 6/30/23 1 909 ,938.29 909 ,938.29 909 ,938 .29 909 ,938.29 2 .99 % California Asset Management Program NR 5.24% 7/1/23 6/30/23 1 7 ,221 ,603 .20 7 ,221 ,603 .20 7 ,221 ,603.20 7 ,221 ,603 .20 5.24% Local Agency Investment Fund -City NR 3.15% 7/1/23 6/30/23 1 1,037 ,695.71 1,037 ,695 .71 1,037 ,695 .71 1,037 ,695.71 3 .15% Cash E9.uivalents Subtotal 1 16,665,153.85 16,665,153.85 16,665,153.85_ 16,665,153.85 2.66% Municipal Bonds
Connecticut State AA-4 .51 % 5/15/28 6/22/23 1,781 205,000 .00 205 ,000.00 205,000 .00 204,106.20 4 .51 % Municie_al Bonds Subtotal 1,781 205,000.00 205 ,000 .00 205,000.00 204,106.20 4.51% U.S. Treasuries
U.S. Treasury AA+ 0 .88% 6/30/26 12/6/21 1,096 1,700 ,000.00 1,676 ,160.16 1,684,340.36 1,531 ,593.75 1.19 % U.S. Treasury AA+ 0.38% 1/31 /26 3/3/21 946 1,500 ,000.00 1,477 ,148.44 1,487,969.51 1,346,484.30 0 .69 % U.S. Treasury AA+ 2 .25% 11/15/24 12/4/19 504 1,500,000.00 1,539 ,609.38 1,511 ,019.64 1,440 ,000.00 1.69% U.S. Treasury AA+ 4 .00% 2/29/28 3/1/23 1,705 1,545 ,000.00 1,533 ,110.74 1,533,905.09 1,533 ,895.31 4.17% U .S. Treasury AA+ 0 .25 % 10/31 /25 11/4/20 854 2 ,100 ,000.00 2 ,085 ,398.44 2 ,093 ,164.03 1,895 ,250.00 0.39% U .S. Treasury AA+ 1.63% 2/15/26 3/3/21 961 1,500 ,000.00 1,568 ,378.91 1,536 ,267.27 1,389 ,843.75 0 .69% U .S. Treasury AA+ 0 .75% 5/31/26 6/4/21 1,066 2,000,000.00 1,995 ,781 .25 1,997,534.05 1,796 ,250.00 0.79% U .S. Treasury AA+ 2.75% 2/15/24 2/27/19 230 575 ,000 .00 582,681 .64 575 ,969 .73 565 ,566.44 2 .46% U .S. Treasury AA+ 1.75 % 12/3 1/24 1/6/20 550 395,000 .00 396,866.99 395 ,562.87 375,496.88 1.65% U .S. Treasury A A+ 2.75 % 7/31 /27 8/10/22 1,492 1,000 ,000.00 990,351 .56 992,078 .29 942,812.50 2 .96% U .S. Treasury AA+ 0 .88% 9/30/26 12/6/21 1,188 1,500 ,000.00 1,476 ,621 .09 1,484,223.56 1,342,031.25 1.21 % U .S. Treasury AA+ 1.50% 9/30/24 10 /3/19 458 1,500,000.00 1,498 ,945.31 1,499 ,735.75 1,431 ,093 .75 1.51 % U .S. Treasury AA+ 0 .38% 11 /30/25 8/4/21 884 2,000 ,000.00 1,983 ,828.13 1,990 ,956.45 1,805 ,000.00 0.56 % U.S . Treasury AA+ 2.88% 5/15/28 5/24/23 1,781 600 ,000 .00 578 ,109.38 578 ,566 .94 566 ,156 .28 3.68% U .S. Treasury AA+ 0 .38% 12/31 /25 9/8/21 915 2 ,000 ,000.00 1,973 ,203.13 1,984,449.31 1,802,812.40 0 .69 % U.S. Treasury AA+ 0 .75 % 4/30/26 11/3/21 1,035 2,500 ,000.00 2,463 ,183.59 2,476,773.54 2 ,251 ,562.50 1.09 % U.S. Treasury AA+ 3 .50% 1/31 /28 2/2/23 1,676 1,800,000.00 1,788 ,820.31 1,789,733.56 1,748 ,250 .00 3 .64% U.S. Treasury AA+ 2.75% 4/30/27 5/4/22 1,400 1,500,000.00 1,485,468 .75 1,488 ,842.36 1,417 ,031 .25 2.96% U.S. Treasury AA+ 2.38% 5/15/27 7/6/22 1,415 2 ,000 ,000.00 1,951 ,796 .88 1,961 ,578 .80 1,862 ,500.00 2.91 % U.S. Treasury AA+ 2 .63 % 5/31 /27 6/3/22 1,431 2 ,000 ,000 .00 1,972 ,578 .13 1,978 ,489.70 1,879 ,375 .00 2 .92 % U .S. Treasury AA+ 0 .13% 2/15/24 2/16/21 230 3 ,500,000.00 3,493 ,027.34 3,498,540.46 3 ,387 ,343.75 0 .19% U.S. Treasury AA+ 0 .13% 2/15/24 2/24/21 230 700,000 .00 698,167.97 699,613 .69 677,468.75 0 .21 % U .S. Treasury AA+ 4.50% 11 /15/25 12/8/22 869 1,250,000.00 1,264 ,062.50 1,261 ,375.82 1,243 ,554.75 4 .09% U.S. Treasury AA + 3 .50% 4/30/28 5/3/23 1,766 1,305,000 .00 1,298,576 .95 1,298,784.71 1,268,093 .03 3 .61 % U.S. Treasury AA+ 2.50% 5/15/24 6/5/19 320 1,000 ,000 .00 1,028 ,203 .13 1,004,981.62 974 ,843.80 1.90% U.S. Treasury AA+ 2.25% 8/15 /27 1/6 /23 1 ,507 2,000 ,000 .00 1,855,000.00 1,870,172.41 1,848 ,750.00 3 .99% U.S . Treasury AA+ 1.75% 6/30/24 3/4/20 366 1,000 ,000 .00 1,039 ,257 .8 1 1,009,074.79 964,375.00 0.82% U.S. Treasury AA+ 3 .63% 5/31/28 6/5/23 1,797 2 ,850 ,000.00 2 ,840,648.44 2,840 ,781.89 2 ,788 ,101.42 3 .70% U.S . Treasury AA+ 4 .13% 10/31/27 12/8/22 1,584 1,500,000 .00 1,522,441 .41 1,519,868.43 1,492 ,031.25 3 .79% U.S. Treasury AA+ 0 .25% 7/31 /25 5/10/2 1 762 2 ,000 ,000 .00 1,969 ,140 .63 1,984,780.3 1 1,819 ,375.00 0.62% U.S. Treasury AA+ 1.25 % 11 /30/26 2/1 7/22 1,249 1,200,000 .00 1,163 ,390.63 1,173,847.46 1,08 1,125.00 1.92% U.S. Treasury AA+ 1.25 % 8/31/24 6/4/21 428 2 ,000 ,000.00 2 ,057 ,109 .38 2 ,020 ,596 .03 1,907 ,1 87.60 0 .36% U.S. Treasury AA+ 3 .88 % 11/30/27 12/8/22 1,614 890,000 .00 895 ,214.84 894,626 .81 877,484.38 3 .74% U.S. Treasury AA+ 1.88 % 2/28/27 5/4/22 1,339 1,500,000 .00 1,426 ,992.19 1,444,528.99 1,375 ,312.50 2.97% U.S. Treasuries Subtotal 1,064 53,910,000.00 53,569,275.43 53,562,734.23 50 ,628,051.59 1 .96% 11-6
City of Rancho Mirage
Investment Detail
as of June 30 , 2023
S&P Days to Par Original Adjusted Market Yield to
Issuer Rati n!I Coueon Maturi~ Purchased Maturi~ Amount Cost Cost Value Matur!!}t Corporate Notes
Amazon .com , Incorporated AA 3 .15 % 8/22/27 9/6/22 1,514 800,000.00 769 ,320.00 774,368 .39 752 ,263.20 4 .01 % Amazon .com , Incorporated AA 3 .00 % 4/13 /25 4/13/22 653 100,000 .00 99 ,841 .0 0 99 ,905.41 96 ,394.90 3 .06 % Amazon.com , Incorporated AA 4 .55% 12/1/27 1217/22 1,615 415,000 .00 416 ,581.15 416,399 .19 411,742.67 4.46% Apple Inc. AA+ 4 .00% 5/10/28 5/10/23 1,776 425,000 .00 424 ,179 .75 424,203.10 417 ,837.05 4 .04% Bank of America A-3 .38 % 4/2/26 3/22/22 1,007 1,000 ,000 .00 1,000,000.00 1,000 ,000.00 958 ,256 .00 3 .38 % Bank of New York Mellon Corporation A 3 .35% 4/25/25 4/26/22 665 405,000 .0 0 404 ,943 .30 404,965 .62 388 ,741 .28 3.35% Ban k of New Yo rk Mellon Corporation A 4.4 1% 7 /24/26 7 /26/22 1,120 255,000 .0 0 255 ,000.00 255,000.00 248 ,218.79 4.41 % Bristol-Myers Squibb Co A+ 3.90% 2/20/28 3/15/23 1,696 215,000.00 208,698.35 209 ,075.82 208 ,720.71 4 .57% Cate rpillar Inc A 3.65% 8/12/25 8/12/22 774 405,000.00 404 ,509 .95 404,654.37 392 ,988 .92 3 .69% Colgate-Palmolive Company AA-3 .10 % 8/15 /25 8/9/22 777 135,000 .00 134,875 .80 134,912.54 129 ,957.89 3 .13% Colgate-Palmolive Company AA-4 .80% 3/2/26 3/1 /23 976 365,000.00 364,576 .60 364,623.69 365 ,620.87 4 .84% Co lgate-Palmolive Company AA -4 .60% 3/1/28 3/15/23 1,706 205,000 .00 208 ,169 .30 207,977.44 206 ,048 .37 4 .25% Comcast Corp. A-2 .35% 1/15/27 10/14/22 1,295 200,000.00 178 ,762.00 182,315.33 183 ,780.00 5 .16% Deere & Company A 4.05% 9/8/25 9/8/22 801 270,000 .0 0 269 ,865 .00 269,901.46 263 ,662.56 4 .07% Illinois Tool Work s Inc. A+ 2 .65 % 11 /15/26 10/14/22 1,234 400,000 .00 368 ,520.00 374,002.12 374,670.40 4 .79% Intel Corporation A 3 .75 % 8/5/27 8/10/22 1,497 405,000 .00 403 ,047.90 403,396.30 387,094.95 3 .86% Mastercard Inc. A+ 3 .30% 3/26 /27 10 /14/22 1,365 300,000 .00 281 ,604.00 284,549.17 286 ,581 .00 4.85% IBM Corp A-4 .00% 7 /27/25 7 /27/22 758 325,000 .00 325 ,000.00 325,000.00 317 ,662.80 4 .00% Merck & Co Inc. A + 4.05 % 5/17/28 5/17/23 1,783 170,000 .00 169 ,862.30 169,865 .69 166,717 .47 4 .07% Truist Fin Corp A-4 .26% 7/28/26 7/28/22 1,124 265,000 .00 265,000.00 265,000 .00 254,176 .08 4 .26% Mastercard Inc. A+ 4.88 % 3/9/28 3/16/23 1,714 205,000.00 206 ,674.85 206,574.79 207,080.14 4 .69% IBM Corp A-1.70% 5/15/27 10/14/22 1,415 200,000 .00 172 ,292.00 176 ,595.51 177,221 .80 5.13% Home Depot Inc. A 2.88% 4/15/27 10/28/22 1,385 220,000 .00 202 ,237.20 204,917 .97 206,499.48 4 .91% United Parcel Service A 3 .05 % 11 /15/27 3/15/23 1,599 220,000 .00 206,927 .60 207,755 .16 206 ,924 .52 4.47% Paccar Financial Corp A+ 3 .55% 8/11 /25 8/11/22 773 610,000.00 609,566.90 609 ,694.93 590,614.81 3 .58% Toyota Motor Co rp A + 3 .65% 8/18 /25 8/18/22 780 275,000.00 274,752.50 274,824.09 266 ,237.13 3 .68% JP Morgan Chase A-1.05% 11 /19/26 3/21/22 1,238 1,000 ,000.00 927,440.00 947,325.87 894,314.00 2 .71 % Home Depot Inc. A 2.80% 9/14/27 10/1 4/22 1,537 300 ,000.00 273 ,498.00 277,334.59 278 ,966 .70 4 .84% Lockheed Martin A-4.45 % 5/15 /28 5/25/23 1,781 65 ,000.00 64,883.00 64,885.38 64,032.48 4 .49% Lockheed Martin A-4 .45 % 5/15/28 6/6/23 1,781 210 ,000.00 209 ,317.50 209 ,326.95 206 ,874 .15 4.52% Home Depot Inc. A 4 .25% 5/4/28 5/4/23 1,770 170 ,000.00 169 ,779.00 169 ,786.02 168 ,144.1 1 4.28 % Home Depot Inc. A 4.25% 5/4 /28 5/4/23 1,770 170 ,000.00 169 ,756.90 169,764.62 168,144.11 4 .28 % Morgan Stanley A-3 .1 3% 7/27/26 9/6/22 1,123 400,000.00 378 ,880.00 383 ,312.23 374,474.00 4 .62% Walmart Inc. AA 3 .90 % 4/15/28 4/1 8/23 1,751 220 ,000.00 219 ,595.20 219 ,611 .62 214,5 14 .74 3.94% Walmart Inc. AA 3.90% 4/1 5/28 5/3/23 1,751 430,000.00 427 ,033.00 427,129.77 419 ,278.81 4.05 % Core_orate Notes Subtotal 1272 11,755,000.00 11,464,990.05 11,518,955.14 11,254,456.89 4.02% Federal Agencies
Federal Home Loan Banks AA+ 2.50% 2/13/24 2/15/19 228 1,300,000.00 1,295 ,398.00 1,299,427.27 1,276 ,970.50 2 .58% Federal Home Loan Ban ks AA+ 0 .50% 4/14/25 4/16/20 654 1,430,000 .00 1,422,907.20 1,427,460.75 1,320,594.99 0 .60% Federal National Mortgage Association AA+ 2.50% 2/5/24 2/8/19 220 680,000.00 677,470.40 679 ,696.1 1 668 ,386.96 2.58% Federal National Mortgage Association AA+ 2.50% 2/5/24 3/4/20 220 2 ,000,000 .00 2 ,128,180.00 2 ,019,589.27 1,965 ,844.00 0 .83% Federal Home Loan Mortgage Corporation AA+ 0 .38% 9 /23/25 9/25 /20 8 16 900,000.00 897,291 .00 898,789.56 816 ,175.80 0.44% Federal Home Loan Banks AA+ 0.38% 9/4/25 9/11/20 797 195,000.00 194,415.00 194,744.00 177,172 .71 0 .44% Federal Home Loan Mortgage Corporation AA+ 1.50% 2/12/25 3/4/20 593 1,250,000.00 1,287,300.00 1,262,226.80 1,180,113.75 0.88% Federal National Mortgage Association AA + 1.75% 7/2/24 3/4/20 368 2 ,500,000.00 2 ,597,425.00 2 ,522,615.42 2,411,475.00 0 .83% Federal Farm Credit Bank AA+ 0.88% 4/8/24 4/8/20 283 1,900,000 .00 1,900 ,000 .00 1,900,000 .00 1,832,498 .70 0.88% Federal Home Loan Banks AA+ 0.83% 2/10/27 8/19/22 1,321 680,000.00 609 ,014.80 622,725 .88 593,470 .00 3 .36% Federal National Mortgage Association AA+ 1.63 % 117/2025 1/10/2020 557 1,605,000.00 1,599 ,880.05 1,603,439 .3 1 1,522,052.00 1.69% Federal National Mortgage Association AA+ 0.50 % 6/17/2025 6/19/2020 718 2,000 ,000 .00 1,995 ,860.00 1,998 ,372.60 1,834 ,770.00 0 .54% 11-7
S&P
Issuer Rating
Federal Home Loan Mortgage Corporation AA+
Federal Home Loan Mortgage Corporation AA+
Federal Hqme Loan Mortgage Corporation AA+
Federal National Mortgage Association AA+
Federal National Mortgage Association AA+
Coueon Maturi!}'.
0 .25% 12/4/23
0.38% 7/21/25
0 .38% 7/21/25
0.63% 4/22/25
0.63% 4/22/25
City of Rancho Mirage
Investment Detail
as of June 30, 2023
Days to Par
Purchased Maturi!}'. Amount
12/4/20 157 1,505 ,000 .00
7/23/20 752 550,000 .00
9/3/20 752 2 ,300,000 .00
4/24/20 662 1,640,000.00
5/19/20 662 1,000,000.00
Federal Ag_encies Subtotal 515 23,435,000.00
Ci~ Oe_eratin9. Total 793 $105,970,153 .85
Original Adjusted Market Yield to
Cost Cost Value Matur!!}'.
1,503,510.05 1,504,787.73 1,472,525.11 0.28 %
547 ,261.00 548,872.26 501 ,852.45 0.48%
2 ,297 ,056.00 2,298,759.29 2 ,098 ,655.70 0.40%
1,636 ,621.60 1,638,775 .70 1,516,785.16 0 .67%
1,002 ,600.00 1,000,955 .31 924 ,869.00 0 .57%
23,592,190.10 23,421,237.26 22,114,211.83 0.96%
$105,496,609.43 $105,373,080.48 $100,865,980.36 2.09%
11-8
City of Rancho Mirage
Investment Detail
as of June 30, 2023
S&P Days to Par Original Adjusted Market Yield to
Issuer Rating Coueon Maturizy Purchased Maturizy Amount Cost Cost Value Maturizy Successor Agenc·
Cash Equivalents
First American Treasury Oblig . Fund AAAm 2.39% 7/1/23 6/30/23 1 95 ,274.11 95,274.11 95,274.11 95,274.11 2 .39% LAIF-Successor Agency NR 3.15% 7/1/23 6/30/23 1 8,024,137.12 _ ~.02_4~137.12 8,024,137.12 8,024 ,1 37.12 3.1 5% Cash E!l_uivalents Subtotal 1 8,119,411 .23 8,119,411.23 8,119,411.23 _ --__ 8,_!_1_!1_,411.23 3.14% U.S. Treasuries
U.S. Treasury AA+ 0 .75% 3/31/2026 11/7/2022 1,005 320 ,000 .00 282,100.00 289,313 .23 289 ,200 .00 4.55% U.S. Treasury AA+ 0 .75% 3/31/2026 11/7/2022 1,005 190 ,000 .00 167,496 .88 171,779.73 171,712.50 4.55% U.S. Treasury AA+ 2 .88% 9/30/2023 7/2/2021 92 480,000.00 507,581.25 483,060 .85 477 ,074.98 0.31% U.S. Treasury AA+ 2 .88% 9/30/2023 7/212021 92 775,000.00 819 ,532.23 779,941.99 770 ,277 .31 0.31% U.S. Treasuries Subtotal 338 1,765,000.00 1,776,710.36 1,724,095.80 1,708,264.79 1.45% Federal Agenc ies
Federal Home Loan Mortgage Corporation AA+ 0 .38% 9/23/25 9/25/20 816 275,000 .00 274 ,282 .25 274,679 .29 249 ,387 .05 0.43% Federal Home Loan Mortgage Corporation AA+ 0 .38% 9/23/25 9/25/20 816 420,000 .00 418,903.80 419,510.20 380,882.04 0.43% Federal Home Loan Mortgage Corporation AA+ 0 .25% 9/8/23 9/8/20 70 280,000.00 280,028.00 280,001.76 277,421.76 0.25% Federal Home Loan Mortgage Corporation AA+ 0 .25% 9/8/23 9/8/20 70 175,000 .00 175,017.50 175,001.10 173,388.60 0 .25% Federal A9_encies Subtotal 505 1,150,000.00 1,148,231.55 1,149,192.35 1,081,079.45 0.35% Successor A9-ency Total 104 $11,034,411.23 __ $11,044,353.14 $10,992,699.38 $10,908,755.47 2.60% Cizy Assessment District Bond Funds
Cash Equivalents
First American Treasury Oblig . Fund AAAm 3.61% 7/1/23 6/30/23 1 2,009,455.13 2,009,455.13 2,009,455.13 2,009,455 .13 3 .61% Cash E!l_uivalents Subtotal 1 2,009,455.13 2,009,455.13 2,009,455.13 2,009,455.13 3.61% City Assessment District Bond Funds Total 1 $2,009,455.13 $2,009,455.13 $2,009,455.13 $2,009,455.1 3 3.61% Grand Total 713 $119,014,020.21 $118,550,417.70 $118,375,234.99 $113,784,190.96 2.17% Market prices are derived from closing bid prices as of the last business day of the month as supplied by Interactive Data, Bloomberg or Telerate. Where prices are not available from generally recognized sources the securities are priced using a yield-based matrix system to arrive at an estimated market value. Prices that fall between data points are interpolated. 11-9
City of Rancho Mirage
Quarterly Accounts & Ending Balances
as of June 30, 2023
Account Number Cash Accounts
98-33-707 LAIF-City Operating
65-33-014 LAI F-Successor Agency
6714249459 RMEA Lockbox
4920690637 RMEA ICS Sweep
6083-001 CAMP
1496350896 Checking Account -Bank of America
73330100 GENERAL FUND BUILDING PUR Cash Balance
Successor Agency Accounts
206520000 2013A TAX ALL. HOUSING REFUNDING BONDS
206520001 2013ATAXALL. HOUSING REFUNDING BONDS
WHITEWATER
NORTHS/DE
73330104
206542000
206542001
206452002
258907000
258907001
258907003
744307005
744307006
744307009
2013 WHITEWATER RESERVE
2013A TAX ALL. HOUSING REFUNDING BONDS
2013A TAX ALL. HOUSING REFUNDING BONDS
2013 A WHITEWATER RESERVE
2016A TAX ALL. REFUNDING
2016A TAX ALL. REFUNDING
2016A TAX ALL. REFUNDING
2003A WHITEWATER REDEVELOPMENT PROJECT FUND
2003A WHITEWATER REDEVELOPMENT PROJECT FUND
2006A WHITEWATER REDEVELOPMENT
206541000 2013A NORTHS I DE RESERVE
206541001 2013ANORTHSIDE RESERVE
206541002 2013A NORTHSIDE RESERVE
231643000 2016A TAX ALL. BONDS
231643001 2016A TAX ALL. BONDS
231643003 2016A TAX ALL. EXPENSE ACCOUNT
256951000 2017A REDEVELOPMENT PROJECT
744304010 2003A NORTHS I DE REDEVELOPMENT PROJECT FUND
1984 PROJECT (SERIES 2003 A-1, 2003 A-E, & 2003 A-T)
744304004 TAXABLE A-T INTEREST
744304005 TAXABLE A-T PRINCIPAL
744304007 TAXABLE A-T REDEVELOPMENT
744305004 2003 SERIES B CAPITAL PROJ REDEVELOPMENT
744307000 2003 B TAXABLE A-1 INTEREST
Cash Subtotal
Successor Agency Subtotal
Balance Yield
1,037,695.71 3.15%
8,024,137.12 3.15%
2,336,118.90 0.00%
909,938.29 2.99%
7,221,603.20 5.24%,
5,064,989.61 0.00%
94,808.14 4.56%
24,689,290.97 2.82'¼
Balance Yield
309.99 4.58%
2,362.84 4.58%
0.00%
37.13 4.58%
1,068.75 4.58%
19,966.80 4.58%
138.51 4.56%
2,698.49 4.56%
26,694.83 4.56%
26.42 4.58%
96.58 4.58%
25.25 4.59 1%
226 .11 4 .58%
1,358.47 4.58%
25,271.51 4.58%
528.92 4.56%
1,311.24 4.56%
11,453.19 4.56%
1,182.33 4.58%
137.25 0.00%
97.48 4.57%
231.77 4.58%
25.00 0.00%
25.25 4.59%
0.00%
95,274.11 4.56%
11-10
94420340
94420341
94420342
94420344
94433290
94433291
94433292
95460330
95460331
95460333
227247000
227247003
227247005
227247006
2169B6000
2169B6003
2169B6004
Assessment District Accounts
(MAGNESIA FALL COVE/WHITE SUN LTD OBLIGATION IMPROVEMENTS RIES 2000A INTEREST) (MAGNESIA FALL COVE/WHITE SUN LTD OBLIGATION IMPROVEMENT SERIES 2000A PRINCIPAL (MAGNESIA FALL COVE/WHITE SUN LTD OBLIGATION IMPROVEMENT SERIES 2000A RESERVE (MAGNESIA FALL COVE/WHITE SUN LTD OBLIGATION IMPROVEMENT SERIES 2000A PREPAYMENT (FRANK SINATRA DRIVE EXT) REF BONDS SERIES 2002 INTEREST (FRANK SINATRA DRIVE EXT) REF BONDS SERIES 2002 PRINCIPAL (FRANK SINATRA DRIVE EXT) REF BONDS SERIES 2002 RESERVE REFUNDING BONDS SERIES 199B REDEMPTION PRINCIPAL FUND
REFUNDING BONDS SERIES 199B REDEMPTION INTEREST FUND
REFUNDING BONDS SERIES 199B RESERVE FUND
COMMUNITY FACILITIES NO. 4A (DEL WEBB) SPECIAL TAX BONDS SERIES 2019A COMMUNITY FACILITIES NO. 4A (DEL WEBB) SPECIAL TAX BONDS SERIES 2019A RESERVE COMMUNITY FACILITIES NO. 4A (DEL WEBB) SPECIAL TAX BONDS SERIES 2019A IMPROVEMENT COMMUNITY FACILITIES NO. 4A (DEL WEBB) SPECIAL TAX BONDS SERIES 2019A CAP. INTEREST CFO NO. 48 (DEL WEBB) RESERVE FUND SPECIAL TAX BONDS SERIES 2021 SPECIAL TAX FUND CFO NO. 48 (DEL WEBB) RESERVE FUND SPECIAL TAX BONDS SERIES 2021 RESERVE FUND CFO NO. 48 (DEL WEBB) RESERVE FUND SPECIAL TAX BONDS SERIES 2021 IMPROVEMENT FUND Fixed Income & Equities
U.S. Treasuries
Operating Portfolio
Successor Portfolio
Assessment District Portfolio
Federal Agencies
Operating Portfolio
Successor Portfolio
Assessment District Portfolio
Corporate Notes
Operating Portfolio
Successor Portfolio
Assessment District Portfolio
Assessment District Subtotal
Fixed Income & Equities Subtotal
Portfolio Total
Balance
3,151 .96
93,718.90
179,704.00
0.02 136.69
222 ,899.00
589 ,487.29
42,525.84
2,247.90
98 ,774.49
0.37 380,303.30
44,931 .64
16.20 244.97
343,743.03
7 ,569.53
2,009,455.13
Market Value
50,628,051 .59
1,708,264.79
22 ,114 ,211 .83
1,081 ,079.45
11,254,456.89
86,786,064 .55
113,580,084.76
Yield
4 .58%
4.58%
4.58%
0.00%
4 .58%
4 .58%
4.58%
4.58%
4.58%
4.58%
0 .00%
0.00%
0.00%
0.00%
4 .56%
4.56%
4.56%
3.61%
Yield to Maturity
1.96%
1.45%
0 .00%
0.96%
0.35%
0 .00%
4.02%
0 .00%
0 .00%
1.94%
2.17%
11-11
Library Foundation Investment Summary
As of June 30, 2023
Operating Cash
Endowment Cash
Endowment Total
Total Cash
Balance
$ 1,815,787.12
519,566.00
519,566.00
$ 2,335,353.12
Investment Type
City Pool
City Pool
11-12
Nonprofit Organizations Investment Summary
As of June 30, 2023
Nonprofit Organization
Joslyn Center
Total Nonprofit Investments
Investment Type
City Pool
Cash Balance
$ 159,826.82
$ 159,826.82
11-13
ATTACHMENT 2
45-DA Y REPORTING REQUIREMENT
(SEE ATTACHED)
11-14
Joseph Carpenter, PHR
From:
Sent:
To:
Cc:
Subject:
Attachments:
City Council,
Joseph Carpenter, PHR
Wednesday, August 9, 2023 4:08 PM
City Council
Kofi Antobam, CPA,CFE,CIA; Isaiah Hagerman, CPA
June 30, 2023 Quarterly Treasurer's Report
Rancho Mirage Quarterly Report_ 2023-06-30.pdf; Non -Profit Summary.pdf Attached is the June 30, 2023 Quarterly Treasurer's Report. This report will be on the September 7th Council agenda as a receive and file agenda item. The City's Investment Policy requires that the City Council receive the quarterly treasurer's report no later than 45 days after the end of the quarter. This email will be attached to the staff report for record keeping purposes noting the 45 -day requirement was met.
If you have any questions regarding the attached report, please don't hesitate to contact me.
Thank you,
1 11-15