2021-05-05 City Council Item No. 12.1 Treasurer's Report Presentation Regular MEETING - Additional Meeting MaterialsTreasurer’s Report, March 2021
Updated Format
Presented by: Rochelle Clayton, Deputy City Manager
Wendy Preece, Deputy Finance Director
City Council
Discussion Item 12.1
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•Monthly the City Treasurer presents City Council with a
summary of the City’s cash and investments.
•The City Treasurer and the Finance staff have reviewed the
City’s portfolio to diversify the City’s investments to safely
increase the return on investments in a fiscally responsible
manner.
Background
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•The City Treasurer and Finance staff met with Piper Sandler,
a leader in government investing, and came up with an
investment strategy to ensure safety, liquidity and return on
investment, while meeting the City’s cash-flow needs.
•There are no fees associated with the services the City will
receive from Piper Sandler.
Background
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•The Piper Sandler strategy was presented to the Finance
Committee on April 8, 2021.
•The Finance Committee then asked staff to bring the
strategy forward to City Council to provide an update on how
this new strategy will improve the City’s return on
investments.
Background
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Current Cash & Investments
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CITY CASH
BEGINNING +(-)ENDING
ACCOUNT INSTITUTION BALANCE DEPOSITS WITHDRAWALS BALANCE RATE
GENERAL-CHECKING UNION BANK OF CA $10,837,282.48 $6,431,267.98 $(9,056,972.01) $8,211,578.45 0.00%
GENERAL-SAVINGS UNION BANK OF CA 35,015,983.13 1,604.86 0.00 35,017,587.99 0.05%
ASSET FORFEITURE UNION BANK OF CA 6,156.64 0.26 0.00 6,156.90 0.05%
TOTAL $45,859,422.25 $6,432,873.10 $(9,056,972.01) $43,235,323.34
CITY INVESTMENT
PERCENT
OF STATED
ISSUER COST BASIS MARKET VALUE PORTFOLIO RATE
LOCAL AGENCY INVESTMENT FUND 62,974,228.86$ 62,974,228.86$ 94.52%0.407%
UNION BANK-CHANDLER ASSET MGMT
AGENCY FUNDS 1,617,700.38$ 1,654,665.55$ 2.43%1.657%(Avg.)
US CORPORATE 1,033,268.07$ 1,057,408.33$ 1.55%1.834%(Avg.)
MONEY MARKET 7,422.96$ 7,422.96$ 0.01%1.000%(Avg.)
US TREASURY 994,029.82$ 1,021,479.65$ 1.49%1.624%(Avg.)
TOTAL UNION BANK-CHANDLER ASSET 3,652,421.23$ 3,740,976.49$
TOTAL CITY INVESTMENTS 66,626,650.09$ 66,715,205.35$ 100.00%
- TOTAL CASH AND INVESTMENT $109,861,973.43 *-7-
Current Investments
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Diversified Investments
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CITY INVESTMENT
*TRANSFER $35,000,000 from Union Bank Savings - 0.05% Rate PERCENT
OF STATED
ISSUER COST BASIS MARKET VALUE PORTFOLIO RATE
LOCAL AGENCY INVESTMENT FUND 30,000,000.00$ 30,000,000.00$ 29.52%0.407%
US BANK-PIPER SANDLER
AGENCY FUNDS 55,974,228.86$ 55,974,228.86$ 55.08%0.780%(Avg.)
US TREASURY 12,000,000.00$ 12,000,000.00$ 11.81%2.125%(Avg.)
US CORPORATE -$ -$ 0.00%(Avg.)
MONEY MARKET -$ -$ 0.00%(Avg.)
TOTAL US BANK-PIPER SANDLER 67,974,228.86$ 67,974,228.86$
UNION BANK-CHANDLER ASSET MGMT
AGENCY FUNDS 1,617,700.38$ 1,654,665.55$ 1.59%1.657%(Avg.)
US CORPORATE 1,033,268.07$ 1,057,408.33$ 1.02%1.834%(Avg.)
MONEY MARKET 7,422.96$ 7,422.96$ 0.01%1.000%(Avg.)
US TREASURY 994,029.82$ 1,021,479.65$ 0.98%1.624%(Avg.)
TOTAL UNION BANK-CHANDLER ASSET 3,652,421.23$ 3,740,976.49$
TOTAL CITY INVESTMENTS 101,626,650.09$ 101,715,205.35$ 100.00%
Diversified Investment Spread
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PERCENT
OF
CUSTODIAN TYPE COST BASIS PORTFOLIO
LAIF MONEY MARKET
LOCAL AGENCY INVESTMENT FUND 30,000,000.00$ 29.52%
US BANK TREASURY
US TREASURY 12,000,000.00$ 11.81%
US BANK AGENCY
AGENCY FUNDS 55,974,228.86$ 55.08%
UNION BANK CHANDLER
CHANDLER ASSET 3,652,421.23$ 3.59%
TOTAL CITY INVESTMENTS 101,626,650.09$
CITY INVESTMENT SPREAD
Increased Return on Investment
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INVESTMENT AGENCY INVESTMENT RATE EARNINGS Maturity
Union Bank Savings 35,000,000$ 0.05%17,500.00$ N/A
Local Agency Investment Fund 62,974,229$ 0.407%256,305.11$ N/A
97,974,229$ 273,805.11$
Local Agency Investment Fund 30,000,000$ 0.407%122,100.00$ N/A
US Treasury - 3.58 Years 3,000,000$ 1.500%45,000.00$ 10/31/2024
US Treasury - 4.42 Years 3,000,000$ 2.000%60,000.00$ 8/15/2025
US Treasury - 4.67 Years 2,000,000$ 2.250%45,000.00$ 11/15/2025
US Treasury - 5.00 Years 4,000,000$ 2.750%110,000.00$ 3/31/2026
Agency - .33 Years 2,000,000$ 0.50%10,000.00$ 07/22/2024
Agency - 1.50 Years 4,000,000$ 0.40%16,000.00$ 09/16/2024
Agency - 1.00 Years 2,500,000$ 0.51%12,750.00$ 09/30/2024
Agency - 1.08 Years 5,000,000$ 0.58%29,000.00$ 10/21/2024
Agency - .25 Years 3,000,000$ 0.58%17,400.00$ 12/13/2024
Agency - .50 Years 3,000,000$ 0.65%19,500.00$ 03/17/2025
Agency - .50 Years 3,000,000$ 0.75%22,500.00$ 06/30/2025
Agency - .33 Years 3,000,000$ 0.70%21,000.00$ 07/30/2025
Agency - .67 Years 2,000,000$ 0.65%13,000.00$ 11/26/2025
Agency - .33 Years 2,500,000$ 1.00%25,000.00$ 01/15/2026
Agency - .42 Years 3,474,529$ 0.75%26,058.97$ 02/24/2026
Agency - 5.00 Years 4,000,000$ 1.00%40,000.00$ 03/30/2026
Agency - 5.00 Years 3,500,000$ 1.03%36,050.00$ 03/30/2026
Agency - 1.00 Years 5,000,000$ 1.04%52,000.00$ 04/14/2026
Agency - 5.00 Years 5,000,000$ 1.00%50,000.00$ 04/21/2026
Agency - 5.00 Years 5,000,000$ 1.00%50,000.00$ 04/21/2026
97,974,529$ 822,358.97$
RETURN ON INVESTMENT CURRENT
RETURN ON INVESTMENT INCREASE
•Approve the Treasurer’s Report for March 2021
Recommended Action
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Questions?
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