HomeMy WebLinkAboutInvestment Report - September 2012 - Joint ConsiderationCITY PORTFOLIO CONCENTRATION LIMITS
September 2012
% Of
Investments
Book Value
Portfolio
CALIFORNIA ASSET MANAGEMENT PROGRAM
$ 2,345,873.64
1.18%
CITY LOAN TO RDA
13,554,999.95
6.81 %
WF/L.A.I.F. BOND PROCEEDS
25,387,899.47
12.76%
FEDERAL AGENCY -- COUPON
-
0.00%
LOCAL AGENCY INVESTMENT FUND
47,247,442.81
23.74%
WELLS FARGO CORPORATE TRUST
5,264,315.07
2.65%
CORPORATE MEDIUM -TERM NOTES
8,716,243.29
4.38%
RIVERSIDE COUNTY TREASURER
93,046,520.96
46.76%
TOTAL BEFORE CASH
$ 195,563,295.19
98.28%
PLUS:
CASH
$ 3,426,565.62
1.72%
GRAND TOTAL
$ 198,989,860.81 (1)
100.00%
FOOTNOTE:
(1) In the City of Palm Desert Comprehensive Annual Financial Report ("CAFR"), both the City of Palm Desert
("City") and the City's external auditor define total investments as demand deposits, investments in
various instruments, and investments held in local government investment pools. The concentration
percentages shown above were calculated based on that definition.
r
CO W E
Q E N
_ M
a�0�
a -0•
LL
00
oa N
va
H
4 0
7,E
can CO 00 v o 0 o O N N N M O OD 00
O O O C O M
O O
O
N N
to
N oM) W 10 O c
O
O
N N O
O
N W O N N O)
OprD 00) OD � M N pN N
M M N N O owl
cli to N p CO N N
Off)
do
O ao0 N
M 01
T
N
2 Oi O
vNi
ui v
�
r�
v ao ui
M U
cl
N
N n O
N Vo
N
n
'0
ui OD M
W
rn v
a. D
o rn
n
N
�
Off)
n7 R
OM1
O N
N
(c+)
N
N (R O
N c6
u')
f-
u] w M
N
v
m
N
r
r
n
10
0
t0
LO
M
� I W
O. M
O G
V7
M
N
N
a
co
Z (1) W
X 0 w
Z
x (A ~
1 o W v�
N C
m
w qa w
oc_
m E
z
U
N
O w CLF-
L > 2
0-
>
C
D 0 Z O p Z
z Z} U W Z)
rn�
U O
O m 0 O
C
c
W FW-
W
L D L
U a) N
QLL
(A O cn8-5'
3 �6
U
i}
} U x W
>
_
li 1.1
30�ox
5
Ci aS I°-
01
N
w
00
w
U
m Y
c
m
W D
N
> m
> y
m
C C
m
N 7i
O =
C Q
7
N
�.m
M 7
CO
. N
T
U .0
a�
«. o
cai n
E L.
Ny
� w
C N
O
C O'
m m
7
>
01
Y
C
m E
N
my
� m
E >
m a. o
a
m c
w o
v
m o
oo 0
c
fM U
vn m
o_p
m N
N ' y
m Oa
0—'0 —4
c N
07
ESE
CD
E O
> E
.y .O w
C N rn 0
cc
0
O C 0
u .Lm-. U
c o ii M U cc O
C O 1,6 to O N E
W H c O
M 00
t O_ 7
C (O C N .O
O O
N a X O
M L m d
` F+ V) L
m L
E 3 0
N O 5 y
pC L U M
U c
Vi c U 0
N N
m O O
U Y O 7 CL
M m O V) c
M o oto U
N m CO
O)
c m 'co M E
m p cr N a
I} m > >U AU
W c CD :+ c>E�
T m c
Q _ 5
�IU Q W FL o a a
}a. o m
F- Q of
N
O
N
O
M
a
N
CD
0
N
o �
0 0
O N
o
t
O o
O c
2
m
� R
a
m
0
FV
}
R
G
d
W
a
'L
y
i3
�
C
E
W
> N
0
cc
C
M
N
m`
a
Q �
d
O O
a
0
�0 v/
a
a
V
�
O
a
a'
dd
m
Q m
c
N
c
m (O I
(o
'ol
N NIN
C>I
OII
O O
O
O
O
O
O
O (O
M M
(V N
O O yy
C t0
M O M
O r, n
Go n
M
N N
N N ,4
(O (O
M O m
o r n
M n
M
N OV
(V
N
O m
N
LU
W
co
U O
d
a a u�)
a o_ Q
G Q (co
q O
a
O W
oc
a
Z
W N
W
a
z
Q
F-
N v
Q M
UU)i U)i
10 h
O) 01
C T
v
N N
�2 1 ;2
W)
0)
a:
N I
F-
w
W
W
O
d
J O)
aa`)
LL Q
r
c
U �
O
a
N
O
M
O
v
Oi
oo
N
v
T
M
N
N
n
Z 0)Z OD
LL n
LL
F M
W N
2
F-
(n
W
z
UW
z
W
a
J
Q c
U m
O
O
a
N
N
W
U Cl)
O Cl)
N
a
0
z
O
m
LL g
0
Q
J (Mi
N
LL � N
ODOQD
O�
O
a0
N
.mod
N
n
O
00
aN
V
N
A
_ d
m
v
a
LL
Q to
J
z O
� a
LL
F-
z
W
00
L
W
z
U
z
0
J 0
Q N
w
}CLo a
U
o
�
O
i c
ako a D
a
a
O O O 0 0 0 O O O O O O O O O 0 0 0
O O O O 00 O O O O 00 O O O O 00
O O O 0 0 0 0 0 0 O O O 0 0 0 0 0 0
O O O O O O O O O O O O O O O O O O
m m m mll� m m m
fcfQcQ lm!fj (m(l} ffNQQ fmfl} ffmQ lmlQ lmlQ fmfQ lmlQ ffmq
Q Q Q Q Q a Q Q Q Q Q Q Q Q Q Q Q Q
O O OD 0 0 0 O �(pp IT 0 0 0 O N O N O
O O 00 O O O O tO O 0 0 0 O O O 00 O O
O O O O O (O OD O CO O O (O 12 (O O O
n O N O)
m (D (MO oo0 D t0 W
O O 00 O O O O CO v O O O O N O N O
O O OR O O O o (N (n O O O O (O O (O O O
O O M O O O 0 0 n O O LO O 0 O (O O O
Lc) OD O aD
n ro rn
(O O N O) 00
O O 00 co
O O OD O O O O 0 O O 0 O O N O N O
O O OR O O O O O O O O O to O (O O O
o O M 0 0 0 o (O n O O (n O (0 O 0 O O
I n a ( 00o 0n °2 rn
a)O (0 00 (D r-
0 0 0 O O O O O O O O O O O O O O O
O O O O O O O O O O O O O O O O O O
o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL
N (n (n (n N (n (n (n N 07 V) N N N 0 (n /n (n
7 > > > > 7 > > > > > > 7 > >
J J J J J J J J J J J J J J J J J J
EL a a LL a a a a. LL LL a a LL LL a LL a a
Q) Q0Q ¢)¢ (an QNQ QnQ QNQ QyQ QnQ QyQ QN Qo QNQ NQ Qn co Qh (nQ
W W W x w W W W W W W W W W W
F-x cr it F-w x F- w ir F- x F-
F- F- F- F- f- F- F- F- F- F- F- F- F- F- F- F- F- F-
W W W W W W W W W W W W W W W W W W
Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q
z z z z z z z z z z z z z z z z z z
> > > > > > > > > > > > > > > > > >
O O O O O O O O O O O O O O O O O O
Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q
F- H F- F F- F- F- F- t F7 F- F- t F- F- F- F- F
Cl ClN M O N O N ClN Cl)O
0 0 0 0 0 0 0 0 0 0 0 o O o o O O o
M M I� n n n 00 OD ODrn rn- o 0 0 O .-
v v vv v vv v vv in (nu) (n
rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn v v
ao co W aD ao oD ao ao W aD ro oD aD 0o W ro o 0
l'J F- F F- F- F; I F- F- F- F- H F- t F- F- F- t F
QO O N M O N O N O N M O
0 0 0 O O O O O O 0 0 0 O O O O O O
y M M I- n n r OD OD OD W O) W O O O O
v v vv v vv v vv u, (n1n (n
j rn rn rn rn rn rn rn rn rn rn rn rn 0) rn rn rn
J O O 00 00 O co ro 00 OD ro 00 oD O co co 00 0 0
L N N U) U) N LO U) N U co U) U) (1) U) U) N U) U)
W
(n (A (n N (n fn lq (n (n (n co (n fn (n (n (n (n (n
0
N
� o
N m �
IL o_ f
o
(off o a
I °- i
m a
V o 0 0 0 0 0 0 o O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
� o 0 0 0 0 0 00
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o c o o 0 0 0 0 0 0 0 0 0 0 0 0
H m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m ml
¢a�¢���aa�a��aa�a��a¢aal
41 O Cl) O 0 M 0 0 0 UA V 0) O o O Cl) O O O) O V O M O O O O O O V O A
7 O V O O O O O O W o O) O O O 00 O O O N (D A O V o M 99 O 99 O O
!0 O N O o 00 O o o M 0) (p a o O M O O O (-� — O (O O (M 00 0 00 00 O n
M (D OD CO O Lc) M OD O 0) A
O
a0 M 00 V Ma) M O o N M
(D (D fV (O y
m M .- W O N N
N O M O o 0 0 0 0 (D V o O O O M O O 0) o V O M O 00 O 00 V o A
O V O o 0 0 o O W o () O o o OD O O O N (D A 0 V O C7 O O
jp O N O o co 0 0 0 Cl) 0) (C 0 0 o M O O O A O (D O W O O 0 0 0 Go NU) OMD Cl) Oco p0 coM OMi r0i O ( A
N fd7
N V h (n V (O m N (D (O
W M O N N
r
W d E cv
� E N v-
W co > O 41 o no O D1 0 0 0 W) D) 0 o O M o 0 0) 09 O M O O O O o 0 0 A
Q N 7 O V O O O O O O 0) 0) O O O 00 0 0 0 N V) A 0 V o M O O O O O o O
G. ; O N O O0 0 0 D M 0 0 0 O O O O V A O O O 0) 0 0 C) o o 00 o W
Q Cl)M CO LD M
1 N O ((R N M
6. V u7 (o L i N O d
y � l+Mi .�- rn O N N
a �
O E
U.
O ,o c.
•O N N
d+ m o 00 0 00 0 0 0 0 0 0 0 0 0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0
V
O O O O O O O O O 0 0 0 0 0
0 0 O O O O
C O O 0 0 0 O O O O O O O O O O O
a a o `o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
(°1 c o
m LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL (NN
N N N N N N N (n N y N N h 0 (A (n (n h N (no (n (n 0 (n N 0 N (n w (n N M
J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J h
a am am a a a a a a a a a a a a. a s a. a a a a a a a a a a a n_
r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r
(Qn (Qq LQq QN (QA ¢N (Qn (QQn tQQq (QQn (QQn (QQq tQQo fQQn (QQn LQQn (QQq LQQn LQQA (QQq tQQo Laaq tQq l¢¢q (QQn LQQq (QQA LQQq 'tQQA (Qq tQq tQq
LLI W W W W W W lrl W W W W W W W W W W W W W u7 W W W W Ll] W u] W W W
F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F y
y W W Lil w w w W W W w W W w W W LL w w W LL W LL 111 W w w Li! W w W w W
H � C7 C9 (9 C9 C7 (7 C7 C7 C7 C9 C9 C9 (7 (7 C9 C9 (� C9 C9 (9 C7 C7 C7 C9 C9 C9 C7 C7 C9 C9 C9 �
H a ¢aaa ¢¢ a a a a a a¢ a a a a a a a a¢ a a a a a a a a a d
z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z a'
a a a a¢ a¢ a a¢ a¢ a¢ a a a a a a a a a a a a¢ a¢ a a a
w o
� a
LU ~ F F F F- F F F F- F- F F F F F F F F- F- F !- F F F F- F F- F- F F F-
r- F F N
d F- o o chi o o o o o D ro d, o M o
fi 0 0 0 0 0 0 0 0 0 0 0 0 N
N N N N.. w OD OD OD OD
N •- •- •- n A A f� O C> O oO O00
aNNNNNNNNNNNNNNNN N U7 0 In OwoO Ow
NNNN N N N N N N N N N N Cl)
O o
U o
O
F F F F F F F F F F F F- F F F F F F- F F F- F F F F F F F F- F F 17 ry
Fi a
Q 0 0 O O OO N M V D 0 O AO M O M O N 0 O No 0
LL O OO OOO O
nnN N N o OD co OD w O
N
A O O O o W W O O 0) 0. W 0
y v o v v a v a a a v a v v v v v a a v v v 0D O o 0D 0D co co
d= 0 0 0 O O O o 0 0 O o o O O O O O N N N N N N N N M M M M M M M y
J N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N
V% LU U N N N V! Ln (n (n Vi (n
3 WWWwWWWW(nWwrnwwN
w
K
h
6
i
m
N
7
N
y
t0
W 0
c�
LU O
; N
�
Q
O o
a
.2 m
O
O N
y o
v a
2
O
a
a
4/ N
cm c
to
> m
0 0
O N N
O O tq
IT Ut to
0 CO
010 o t°ti
O n n
V v Go
0 0 0
0 0 0
0 0 e0o
CD
o
v
0 0
M
QI
Of
O
w to
N N
N tp
to cQ
O
t�1 M
O 01
N to
O) W
O O
a O
O CC
to W
to
o)
0
W
tV
Z O
g
LL
H
Z
W
M
N
W tV
> N
Z �
>
W Q
O C
O to
a
W a
7
N
Q o
1J �
Y_ N
0
j O
a
r N
u a
C nn
to
m
co
Ci
td
W
N
T
N
to
I
h
v
N
n
o
too
N
to
oo�,
tq
O
vi
ion
Ln
v
a
o
v
a
o
—
CL
0
a
A
d
a
m
p�
i
a
U_
to
M
O O O
Go
O O O
O
N
a
9
O
O
f
M
df
m
o m o
m ao
co N h
V O O
to
Oct
Y
8
Of fV
O
O
coco`-
W
01
y
7
t0 f0 O
(O aD
P
M
00
V O O
A
41
N m N
� O
M
cc
_ .
O
M
O
Of
NrN
I.I.
W G> N
N
l0
CD O ao
o o
h
C
C M
A
v
m ni
m
M
+�
n
_
co
U.0
O.
p COi
H °�
CL a
L p
N N
V
2
O O
n
00
W d
Ol V
O
Y7
R
C
w
LU
h
< m
0.
Go
O
U
_Z
ON
LU
N
F- LL H
w J J
111 O U
(A a <
W LL
p O
<
y
J Z
C
m
a
a P
—��
E
C)
LU It
N U
C
W W
U O x>
c
F-
<
Z
t
O
v
U
o
E
Q
jp
O M N
(9
Z M M c07
W
=
o
U
Y
N
Z
O
a
m 10 M O
Z N
O IsO
o'
a
O M M M
m
N
N
m
U
N N
o
of
V
Z
W E
� �E N
O = 7 M
N N
W 2 °
_o
Q.
a CL a n
I.L
W 0
2>
� y
A
IL
q
C
I� rn
'o
O o o
n
<
N
O O
O
Ci
M
I
O O
O
C (M O
0
o e
I-- o
o (N.
O
C,
o
_
O
I
O
O
n
M
vNi
N
N CD (O
� O
tri
� C �
M
N
v 00 (n
N
u>
M
V M O N O R
0 O N N O ODD
co n o Oc
(o coW 0 0
M W (� In N (O
O M
M
N
O
n
0
N
N
M
n
co
z 2 N
w (D : �
a W z F
IJ
li a
J }� w W m
i Z o Z z 00
z Q } W Q
p uU z p 0 4
p W Q> LL d
L N J 0 U) N
J 01
> Q OU Z W >
a F 0 J W3: C
v
a�
v
O
O.
N c
o
O
0
P,
co
N
.2
(O N
N O
o
X EL
m O
QU
o
co
cQ
to
y
a � o
d a
C 0)
U �
ao .2 o
rn
o
E E
r o m
co
CQ
Cl)
C C
C
0)
6 E
�5 N
U >
c
�j c 10
U
(0 m o O
U a5 F
cu -o
UUA
0 0
—°'m
o2-
m
c C-
m
my E
�
in10
C v U
N 0) O
E0:a
�0 O N
L
7 C
U c
c t •°
.. m
CD c
M Op_
to
o 'o
( N
n O
ano a
o
U `D
~
Cfun
�
NNy
O N
� � C
N y (0
` N
o
o
O 0 y
- O C
f0 Q (0
C
N
O
M
U E L
C
M
G
O
O (O OR
a
w
•'LO
tQ
CD
(o
C6
M
c la���,
U
O
r
N C
> C
(D
.-
2Opp (0
a a
M
Q
L O Q
.r N
'C N
E
;Uw
a
0UU
mQ N
E =
8��
o
c c IIIN
Oi
E
.a C ..
C
0
, tz o —O
m
O
O
O
cycpp
0)
0
m
E o
N
m0>
W
}
0)
>
aT
>
> - >
O >
�IU
>
Q
W
L > @
H E
m
rn
a
d
Z
w 4
N
E
a 0
N v
0 CD
N
Vi ev
rn �
U2
m
V C
y
m
_o
cN
N�
oa
L �
�
d
a
61 N
N C
� ry
am
1I
I
t
n n n n n n n n n n n
n nn n nn n (nn IC1
m o7 M m m m M M M m M
06 0 o o o O O O O O
I
n n n n n n n n n n
n n n n n n n n n n
m Cl m M m m M M M M
O O O O O O O O O O
V' R 000 o N M V0' O N
n aD m oI(Dl� (WO N MCIn- O
0 Wo CT ci N M N M M O
n N
V Oct n (q 0 m o of M m
v m
N
OD n n O N m m 0 n
< V V; m O N O V' O N
n t0 OO N m m 0 O
N IT 00CO'0 M N .--
In m
O O C' (O Of (O O M M t00
'�2 V' m — � (o O - t2 m
N
11
l`o')
o m (o m m
o l o o f o o l o
O O O O o O
O O O O O O
O O O O O O
0 0 0 0 0 0
� 2a Qaa Q
m 0 O O O o
O O O O O N
V) O O O O
� O
m
V
Cl) 0 0 0 0 Of
0 0 0 0 0 N
0 0 0 00
n �
V
m n n O N m 0 O
N
m
O R '7 W O N O H O
0o
n
n
a
M N
o O
0 0 0 0 o 0
O O 00 N
Z O N m m 0� O
N
0 6
m (O O m m N m n
rl-i
o
con
A
N g
o O
O O O
ro
M O (O O Ci o r m
n O
rf
M
M
ao
pp
o Q
n
r a
O m M M o m O M (Mi m
M
o
W
n
Y�
n
O O
m (p
V' (�J m O � m
a
m
00
O
h
N N
N
V
O
o o 0 o O O O O O o
N N N N N N N N N N
N
N
ry
O
N
O O O o o 0
a a a a a a a a a
N N N N N N
07
a
a
O
o
M
o 0 0 0 0 0
O O O O O O O O O O
O
n
V
O
O
<
V
O
D
(O
A
c
�
�
n
W
Cl)Oi
n
O
V
Yf
�j
7 > > 7 > >
Z
D
J J J J J J
a s a a a a
F F F F F �, F F
LL
Q
}}}} >- }
w tY cr tY w tY m w x tY
(n
W W W W W W W W W W
Z
cr
7 p 7 > > 7
y� LU (n LU N (0 (n (n N
W W W W W W W W W W
m
p
N
rn U)(n U) U)�
Q QQ Q a
O O p O p 0 O p p p
F-
.-.
W
W W LLl W W W
r2
N
W
d
J
d
Q
In
Er tY
J J J J J J J J J J
>
>
to
O
OI
Of
J O>
a Q a a Q a Q Q a Q
to
.0
O
a
A
W W W W W W
aaa a as a as a
ar
a,
n
d
LL LL LL LL �i LL LL LL LL LL
p
Q
>
F F F F
O O O O O O O O O 0
¢'
I
tl.
a
to
Q
Fa"
Z
it
9
J
°°
a
_
_
O
Z Z Z Z Z
a a¢ a a a
o
m
a
A
Q
» >» >
U U U U U U U U U U
d
U
_
p p a a O a
o
Z c°
I- aQ a a s a
0
0
c
to
W
?
m
>
>
Z
0
~ F- F- F- F- F F
(oo (o coN(Mo ro rn
a
W
0 0 0 0 0
(`o (p' anD a°D
tJ O O O O O O 0 0 0 O
m m m m m m
Q n0
W
I
a
g co, N N N N
M M M M
M M M m m m m M M M
tY N
Z
H
H
O L. O O O
o 0 o o o o
] C
F. n
W °nD
N
v
O rn o o rn o rn
L
o
W O
;
W M
m m m m m m
Z
Ix
]
0Z
Z
O
C
Z
>.
Wll
U
I
O
U
I<
I
W
w
' F- F- F- F F- F-
o io CN m
o m rn
I
Lu
U(
Q o o o m o o
(� onD aOD
O O O O O O O O O O
m m m m M m M m
I
_p o
n
W
Q
>' N
N N N N N
LL O a�
Cl) M
M m M m m M m m m M
N N N N N N N N N N
N
O
In
U) m
J
(;�
9
m (n
m
O O O O
O O O O O O
Cn cn in to N in in cn iq
I
n
Q U)
Q
��
W
J M M M M M M
} } } } } } } } } }
(n (n W (n U) () (n to (n u)
w
}
to
I
Q
U co
JO
(mri
v}i
W o
W
W to v� Cn iA to in
3 )- >- y >-
(ov
(n (}n
0
N �J
a f
� Q
U h
0 a
t
to
o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o O O O o 0 0 0 0 o 0 0 0 0 0 0 0 0 0 0
0 o o o o o o o o o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0
o 0 0 0 0 o
0 0 0 0 0 O 0 0 p p o 0 0 0 0 0 0 p 0 0 p o 0 p o p 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0
a
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
a
mj
t'a M0 N f�MQ M ((m¢ /m fm m lm fm lm m m fm fm fm lm tm m fm fM M (M M fm lm fm fm m lm fm lm fmfq fmfQ lmlQ m
a¢¢ Q¢
oW
a¢ Q Q Q¢ Q Q¢¢ a¢ a Q¢ a Q a Q¢ a Q¢ Q¢ a¢ a a¢ Q
O
2
31
d'
fA
m
7
O O O O O O 0 0 0 O O to to 0 0 f- M O O o M O O O O O O N O O O N O O
0 0 0 0 0 0 0 tp O O O Cl) to O 0 M a 0 0 0 0 0 00 G 0 0 0
O 0 0 0 0 0 0 0
0 0 0 0 0 0 O 00 O O O M m 0 0 0 0 0 0 0 0 m 0 0 0 0 0 0 0 0 0
y
tN N
0
O
O N M N
O 0)
8
n
N 0)
m
m
0 0 0 O O O O O O O O to to O O r M O O O M 0 00 O O O N o 0 0 0 N O O
O O O O O O O 00 O o O Cl) to 0 0 M V. O O O O O 00 0 0
OO 0) O O O O O O OO O O O 6 O O M (Ni O O O OiOONMO O O O O O O
wjp
Oi N 0 M O
U) Lr) n v�it.
0 to
ZC
W
0 m
E
Q d � N
0 0 0 0 0 0 0 000 0 0 0 r'i ui 0 0 m v 0 0 0 0 0 0 o w o o o rn
0000000
O O O (h N O O (V N p O O O O O 00 O 0 O O O O O
O 1 m tp
O M M 00 O
O
N M N p n
o.
N
to o n
m rn
CO
w uMi
U C G m
CL
.2 0
mm
N ui N
oa L O
N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N
N N
o o
m m
O7 U
A r-
ig
LL LL W LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL U- LL
LL LL LL LL LL LL LL
22 2
N N � rn N rn rn N fn N Cn N fn cn In (� cn cn (� h to cn (� rn to to cn cn to N N N y N cn to
J J J J J J J J J J J J J J J
J J J J J J J J J J J J J J J J J J J J Ja
aaa a a a a a a a am a a a a
a am am a a d a am a a am a a a a
VQ VQ
(Q= to (Qp !Qp (a_ (Q) U) (Q= U) 0 w tQ= tQ= (Q_ !Q_ (Q= fQp
Q UQ fQn
Qy QN QN
QN Q= Q� lQp (QA
Qy Q� QN QN ¢y¢ Q�
¢y¢
W W W W Q W W Q W ul LL] ul Q a a Q a a a a a a a Q LLl W W W Q W W W W W
fFL'
W
x F w Ix It w w F H Ir(r w H cr w F0: of xa: x0: x cr x x w w w x w cr
N
F
W W W W W W W W W W W W W W W W W W
W W W W W W W W W W W W W W W W W W
a
00 0 (7 C7
a a a a a a¢ a Q a Q Q a a Q a a a aaa ¢aaa Q Q¢ Q Q a Q¢¢¢ a F- F- F- F- F- F- F- F- F- f•-
F- F- F- F- F- F- F- F- F- F- F- F- F-F-
a a a a a a a a a a a a a a a a a a a a a a a a a a a¢ a a a a a a¢¢
❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ O ❑ ❑ O ❑ O ❑ O ❑ ❑ O a a ¢ a a
¢ a ¢ a a ¢ ¢ a ¢ Q ¢ ¢ ¢ ¢ a ¢ ¢ ¢ ¢aaaaa ¢ a Q Q ¢ ¢ a
~
c
F; H F- F; F H F; F H F; F- F; F P F F F F- F; F; F; F; H F- F- F F; F- F; F- F F- F- F- F;
Eo
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o 0 0 0 0 0
y
0
� to 1n to CO t0 O t0 t0 00 ro tp w O O 01 O N N N N M M M M M O to h h t0 O t0
to in to to to to to to to to to to to to 0 to O O O O O
O
0 O O O O f� n co
O O O O O O 0 0 0 O O O O O O O O O O O O O O O O O O
O O O O O O O O O) O O O O O O O O O O O O O O O O O
to co
d
O O O 0 O O O O O O
m 0 0 w ao ro 0 ao 0 0 0 W 0 ao eo 0 0 0 0 0 m ro o ro o to o O o 0 0 0 0
.--
0
N N
U
O
Q
F7 F- H F- F F- F- F- H F- F- F- F- H F- F- F F- F7 F7 F H F- F- F- F7 F- F- F7 F F h F- F F7 F-
N
Q
a _ e}
cn
O ON o O O O O O O O O O O O O O O O 0 0 0 O O
O
LL
O O O O O O O O N O O O O
to to N to t0 t0 t0 t0 t0 m O 00 00 O O O O N N N N M M M M M to h to to
to to 'n N N to to N h N to N N O to to to O 0
N
J
O O O O O O O O n 0 n n
0 0 0 0 0 0 O 0 0 0 0 0 O O O O p 0 O O 0 0 0 0 O O O
ro m m ro
a
a°'o co a°io
0 ro 0 0 0 ro m aoo w°' ro 0 0 0 0 0 0 w co ro 0 0 0 0 0 0 0 0 0 o
m
fn N in N in in in N N to (n N in >- h to 0>, in N to to (n W— in () fn W— in in w N N 2
3
U)i w y
�������������������w���������Nw����w
c
(D �o
aQo
a
U
o a
'o
0 00 0 00 0 00 0 00 0 00 O 00 000 000 0 00 000 0 00 0 00
0 0 0 0 0 o 0 0 0 o 0 o 0 O o 0 0
�I
0 0 0 0 0 O O O O o o
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o
0 0
a
0 0 o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
a0
a
to
a
m m m m m R m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m m
Q Q ¢ Q Q a� Q Q Q
g
¢ ¢ Q
d
to
0/
7
O O O O O Co O O O O L pp 0 0 m M O O O N (O O N ao O O O O M O O O f• O p
M
O (D O O O 7 O O O O E M p O Un to 0 0 O .-. O 0�
m 0 0 0 � 0 0 00 m O N
0 0 00r- p00 0 vi 00w r,00 000 0�0 000 00 000 ui 0oi
Y
r0 v aMo O rn a 0 0 st N O
g
Cl)m_ Lto
O
coo M < (n vi is 0 r� -
m
N N N o .�- ^ m
a i. -
y
7
O O O p 0 ro m 0 0 O rn v O O m M O O O N (O O V N ro 00 o 0 m O O O n O m
O t0 O 0 0- O O O O v M O O O N O O O O O V7 QD O O O O .- O O O
jp
O m O N
O V O O O N 0 0 0 O N o 0 OD N O C 0 0 0 0 0 O 0 0 0 O l+) C O C C N O
f0 a ccoo O rn a 0 0 7 04 LQ O 0) CD
'_
N
OOD M (G O r` 0
N N N O V n t`
U c
Z c d
w 0 EN
E NCD
Q Ci74
O O
m O O OO T O0 O' 0. a M O ONN OO OO O Oo
O oN O0 ON
/VN
;
OWO OOO OM 0O
OO m
OO OO O O O 00 1�
(gL
(O
Nv
O
o
M
mrnmi
f ( ao. OU)
N N ^
/Ac
.0
(p
E
U .0
U +r
o 0
m
o 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Q a0 t O
0 0 o 0 o o o o 0 o 00 0 0 0 0 0 0 0 0 0
N N N N N N N N= N N N N N N N N N N N N N N N N N N N
0
N
0 0
a
O O O 0 0 0 0 0 0 0 0 0 0 0 0 0 O O O O O O O O O O O O O O O O O O
o o `o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
d m
rnu
m c
m
LL LL U. LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL. LL LL LL LL LL LL LL U. LL LL LL LL LL LL LL LL LL
(n (n (n (n (n (n N h (n (n (n (n W y (n (n N N y !n In N y W fn (n y
(n (n (n y to fn !n N N 7 > > 7 7 7 > > > > .7 > > > > > > > > > > 7 7 > > 7 D
(L a - (La (La as a - (Las a(L as as a- (L (L(L (L Mas a.. M(L cLLL o. a as a a0-
a. as a. (L
u N u v U) N V N y
fN (a (_ (p (d (= N y U) U (_ w y N U) N (_ y y N (n N (p co U) V)
u � u u �6�6�6���� �� ��6�U�Ul��6i��u Ll�u 6 � 6
w w
w x w Ix w wa: af m w 0: m w of ix w w w cr w Ir x cr w w a: m x w m= LL' x w
F F F F F F F F F F F- F F
y
F- F F F- F F F F F F F f- F- F F I- F F-- F- F I-- F- F
W W W W
W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W C7 C7 U C7 U
CD (� U C7 (7 a 0 a s (D 0 0 0 0 a a 0 0 0 0 U (D 0 (D a U a a U 0 0
Q Q Q Q Q Q Q
N
Q Q Q QF Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q
F F F F F F F F F F F
F F F F F F F F F F F F F F
F
Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z
>»
> » > > > > > > > > > >» >» >» >» >» >» >»
Q Q
Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q
N
W
F F F- F- F- Faa7 F- F- F F' FFp F- F- F- F F- F- F F F F F- F- F F f- F- F Faa- F- F- F F F F
9
F'
- cF�pp
0 0 0 0 0 0 0 0 0 0 C 0 0 0 0 O O O O O O O O OM O 0 0 0 0 0 0 0 0
(p
g
0 0
m m m m m M M M Cl) M T 7 ,,,, 8, O O O O pp po pp N N N N N N N
^ W) N O O O 0 0 0 O O O O 0
>
O
O O O O O O O O O O O M M Cl) M M_ M 1n
O M M Cl) M M 0 0 0 O O O O O O O O O 0 0 0 O O O O O O O O t\
O N N N N N M M M M M M M M M M M M M M M M M M M M M
0 0 0 0
C
-
d
it
M M m m m m m m m
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 p p p o 0 0 O 0 0 p p o
N N N N N N N N N N N N N N N N N N co N N N N N N N N N N N N N
U
N N N N
O
o
O
H F F- F F F F- F- F F F F F- F F F F- F F F F F- F F F F- F- F F- F F- F- F F F F
M O O
N
Q
N M N c7 O N M O N M O N N V 00
o Cl 0 0 0 o 0 0 0� o 0 0 0 0 0 0 0 0 0 0 0 0 0
W m m m m 0 0 0 o 0
N
LL,
m M M M M M� N N W) LO� 0 o 0 0
O O O O O O 0 0 O O O O O Co O Co Co 04
..
N
J
O O O O O M M M M r+Nj N
O N N N N N M M M M M M M M M M M M M M M M MMM M
Or
d
J
M M M m m m m m m rn
o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o
N N N N N N N N N N N N N N N N N
m
7
W
N N N N N N N N N N N N N N N N N N (ryy
} } } } } } } } } } } } } } } } } } }
{p
v
3
} } } } } } } } } } } } } } } } }
(n (n (n (n (n (n (n (n (n (n (n (n (n (n (n (n
o
N (n (n (n (n (n (n (n (n (n (n (n (n
�o
f
C
0
LL
f
45
Z ♦' C
W d
m
E N
0 E
ad,o
N
N
tM
C
>
O c
co
i M
y�
a
N
.Q
log
V =O
V C
E
0 r..
C d
N O
o a
0 U)
y N
to
a
a
o'
and
ac
L_
A
Q m
d IN
0 00
0
O
O O O
O O O
O
O
O
O
0 00
0
a
M M M
Mi
a a a
al
4�
o 0 0 n
I O O O V in
O
N 10
t0
N A
N
v>
O o o 0le
u7 r%
co
0 0 o v vi
N �t�ppD
N b
b
0 0 0 Ln n
0 0 0 v ppupp;
N �i�pD
N N
N
N
O O O O
N N N N
O O O O
0 o n 'o
0
to
lL lL LL U. M
N
In w fn w O
J J J J r
a a o. a
rrr>-
LLI W W Q
W W W W
Q Q Q Q N
Z Z Z Z Q
J > > j =
O D O 0 A
F Q Q Q Q
N 0
F- F-
N LO 0 U0
o n r n
rn a 0 0 0 0 0 0
N (N N N
0
L)
F-
a 000
U')LOL�
V)W)V)W)
n r n n n
rn o� 0 0
J N N
L } t } }
(0 (1) U) U)
0
kt
G
V
�+
Z �
L
LU d
N
Q G>
V N
OCM
N
a
N
U •0
° E
V
co0
�(D
0 V)
Q d
a
ro
�
a
m w
rnu
� c
m
am
O
O
O
m
n
m
0
ci
n
0
m
0
m
N
N
00
N
N
00
}
N
co
0
m
0
O
N
O
O
m
mm
0
IL
=BN
E cc
E
r
ev E
c
a
C
z
_0
E d °'
o
O
a°
CO
=
o-
C
N
N
CO
cc CO
N M
O O C
r
a
0 0
o
� $ o
0
W) (n o
N
07 N to
� V
N
N A
r
co
17 N
N
a
C4 I
N
O
CO
N M
N
R
a
o cc
O M
O C
r
I �
� M
O M
O �
n N
n M
co
O �
N Yi
M
M
cn
ci
N
ai
M
M
M
N
M
e-
N
M
r-
fn
C
f0
(6
Y
C
fC
N
f0
cn
C
(0
N
a
a
vi
d
m
a�
cCv
G
�0
4)
N
O
a
a
fR Q
L)
CD
N
0
cp N
D7 N O
E 2 N
w�-
m(D
wo
EUW
W
> °O� H
E � U
O) co O
OO p j N
w N a oa
y
O M _
co O
E
o x
M
N
N @
a
E 0a
CL
+O+ O
O }
� N
N
f0
N
— C �
f0 w
L O t=
3c m
V w N N
a � N >
M. E m V
H >. 41 U U C
O)
c a`°i O 0:
W m a vi
-10Qw��
N
7
fs/
A
g
C
C�
E N
O m
N O
>N
2 �
= Q
cCc
O
Z
N
y
y0
O C'
d
=a
O
a
a
dd
�C
Q m
NI N M
O O O I O
0 co
NM
O O
W7, 1 M
N IV
M M N N
n A
N
N
M
ai
_M
N
M
M
N
N
M
V
V
YN7
n
n
t,
N
N
V
M
M
N
N
v
a
f4
A
v
v
N
N
N
N
a
a
0
0
V)
N
M
Z
V
LL
O
N
o
w
z
a
w
wz
cn
w
>
O
z
z
z
C
w
rn
C
O
0
W
>
Q
>
Q
fn
Q
°
O
'°
a
a
N
fq
ro
M
0
0
0
0
N
�
.-
N
co
b
a
Q
O
N
O
_a
N
0
N
O
= Q
01
a
y.o-.
0 LLi
cc
M
tT'
O O
o o
d
a
0 0
f
Q.
.2
yv
N
o�
y
yQ�
O
R'
to
7
O O
pMj
r-
O
N
Y
N V
M
O
m
t0 V
N
�
M"
o o
N
N
0)
N a
M
d
O n
�
n O
a
Ut
�
M
N
O
OU
0
W
N O
o o
M
M
_
y
ID .N
vi
0
N v
n
'e� M
A
m rl
O C m
_Z
=a a�
u0
NN
as
a
o 0
m d
N N
N
c
V
Q
N
n
�
M
Z
X
U co
W Z) �
2 cr
U F-
2
d
m
:D D
a
m
Q a
m
y
Z Z
m
m
F/5 N
41 0C
D
q
_
0 0
c
Q
�
L
y
A
�
U
c
�
a
o
y
N co
j
O O
C
N N
N N
O
O
N
O
0
IA �
Y
�
a
U U) U
m
U
U N
c
3
Ix
ti
y bCity of Palm Desert
xeakevrv, d Anueawww, ��bcxt
ECONOMIC COMMENTARY
Wells Fargo Securities believes that the Federal Reserve's new quantitative
easing program ("QE3") could last up to two years. The Fed plans to buy $40
billion of mortgage -backed securities ("MBS") each month in order to lower
mortgage interest rates. The Fed's decision to target the MBS market
suggests that it views a sustained housing recovery as a precondition for
overall economic stability and growth. QE3 may also serve as a hedge
against the economic damage that could result from Congressional gridlock
over the forthcoming "fiscal cliff'.
The basic intent of QE3 is to lift financial asset prices, and to create a positive
wealth effect that will lift the U.S. economy. Consumers are more likely to
spend money if they think that their houses and stock portfolios are worth
more. Likewise, corporations are more likely to hire people, and make
additional investments if they think that their stock is worth more.
QE3 will expand the money supply, further cheapening the value of the U.S.
dollar, and putting upward pressure on commodities import prices. While
an expanding money supply can create the potential for higher inflation,
inflation also requires an increase in the velocity of money (which is closely
tied to bank lending). Bank lending is currently constrained by a combination
of higher capital requirements and tighter government regulation.
City Treasurer
Certified California Municipal Treasurer
PORTFOLIO STATISTICS
Thousands of Dollars
2012
I MarKets Team
City Treasurer
Paul S. Gibson, C.C.M.T.
Deputy City Treasurer
Thomas W. Jeffrey, J.D., M.B.A.
Investment Objectives
The treasurer shall invest all
public monies in a manner
that ensures safety of
principal; sufficient liquidity
to finance the City's
expenditures; and the
highest yield possible after
the previous two objectives
have been met.
Month -End Book Value
$
198,990
$
206,754
$ 205,805
$
216,803
$
218,086
$ 210,198
Month -End Market Value
$
199,032
$
206,794
$ 205,845
$
216,813
$
218,101
$ 210,229
Paper Gain (Loss)
$
42
$
40
$ 40
$
10
$
15
$ 31
Prior Year Book Variance
$
(6,063)
$
99
$ (1,578)
$
(6,478)
$
(1,596)
$ 3,543
Interest Earnings
$
64
$
71
$ 72
$
75
$
76
$ 72
Yield -To -Maturity
0.39%
0.40%
0.42%
0.43%
0.43%
0.42%
Weighted Maturity (Days)
29
28
40
40
38
39
Effective Duration
0.04
0.04
0.05
0.05
0.05
0.06
All data as of September 30, 2012
Dollars in Thousands
Maturities
< I
< 2M
< 3M
< 6M
< 1Y
< 2Y
< 3Y
< 4Y
< 5Y
Total:
Market Value
$ 173,292
8,758
PORTFOLIO CHARACTERISTICS
September 2012
Ratings
Market Value
AAA or Aaa
$ 100,657
AA or Aa
4,701
A
4,057
Unrated
86,190
Total:
$ 195,605
Assets
Market Value
County Pool
93,047
LAW
47,247
WF/LAIF Bond Proceeds
25,388
City Loan to RDA
13,555
MTN
8,758
CAMP
2,346
W F/Bond Proceeds
5,264
Agencies
-
Total:
$ 195,605
Month
City Yield
LAW Yield
Variance
Oct11
0.43
0.39
0.05
Nov
0.44
0.40
0.04
Dec
0.37
0.38
-0.01
Jan12
0.40
0.39
0.01
Feb
0.41
0.39
0.02
Mar
0.45
0.38
0.07
Apr
0.42
0.37
0.05
May
0.43
0.36
0.07
Jun
0.43
0.36
0.08
Jul
0.42
0.36
0.05
Aug
0.40
0.38
0.02
Sep
0.39
0.35
0.04
Maturities Distribution
100 95
80
0
c 60
2
>= 40
0
a
20
0 0 0 5 0 0 0 0
0
<1M <2M <3M <W <1Y <2Y <W <4Y <5Y
Credit Quality
Unrated
44%
Asset Allocation
County Pool
48%
Agencies
0% WF/LAIF Bond
Proceeds
13%
W F/Bond
Proceeds CAMP MTN City Loan to
3% 1% 4% RDA
7% J
4AA or Aaa
52%
AA or Aa
% 2%
1/b
LAI F
24%
Performance
0.5
°'I��III�III���III���I
0.0
Octl1 Nov DecJan12 Feb Mar Apr May Jun Jul Aug Sep
LAIF Yid UCiy Y�dd
CITY OF PALM DESERT TREASURER'S OFFICE PAGE 2 OF 3
STATEMENT OF COMPLIANCE
September 2012
The investment of the City of Palm Desert securities portfolio is governed by California Government Code Section 53601 and by the Palm
Desert Statement of Investment Policy. The City investment policy is more conservative than State law. The Palm Desert Audit, Finance, and
Investment Committee, and the Palm Desert City Council review the City investment policy annually.
For the month ended September 30, 2012, the City investment portfolio was in compliance with all applicable state and local laws and
regulations. The City Treasurer's Office continued to pursue conservative and prudent investment strategies, based upon the stated objectives
of safety, liquidity, and yield. Barring unforeseen events, the City Treasury should have sufficient cash to finance City expenditures for the next
six months. In addition, portions of the City investment portfolio could be liquidated in order to meet any significant, unexpected cash
requirements.
Interactive Data Services provided the market value prices for securities in the City investment portfolio. All balances are bank balances.
Respectfully submitted,
Yaafs qi i Fjea, ee.m..j:
City Treasurer
SUMMARY OF AUTHORIZED INVESTMENTS
California Government Code City Investment Policy
CA Govt Maximum Maximum Minimum Maximum Maximum Minimum % of City
Code Investment Category Maturity Limit Quality Maturity Limit Quality Portfolio
53601(a)
Palm Desert Bonds
5 Years
No Limit
I
I
I -
53633
Demand Deposits
No Limit
No Limit
No Lim—ita
No Limit
-
53601(b)
U.S. Treasuries
5 Years
No Limit
5 Years
No Limit
-
53601(c)
CA State Debt
5 Years
No Limit
Not Authorized
53601(d)
CA Local Agency Debt
5 Years
No Limit
Not Authorized
53601(e)
Federal Agencies
5 Years
No Limit
5 Years
No Limit
-
53601(f)
Bankers's Acceptances
180 Days
40%
180 Days
40%
A-1 or P-1
-
53601(g)
Commercial Paper
270 Days
25%
A-1/P-1
270 Days
25%
A-1 or P-1
-
53601(h)
Negotiable CDs
5 Years
30%
5 Years
30%
AA- or Aa3
-
53601(i)
Repos
1 Year
No Limit
30 Days
20%
-
53601(1)
Reverse Repos
92 Days
20%
Not Authorized
53601(j)
Medium -Term Notes
5 Years
30%
A
5 Years
30%
A
4.4%
53601(k)
Money Market Funds
90 Days
20%
AAA & Aaa
90 Days
20%
AAA & Aaa
2.7%
53601(I)
Trust Indenture Debt
Not Authorized
53601(m)
Secured Bank Deposits
5 Years
No Limit
Not Authorized
53601(k)
Local Government
Investment Pools
90 Days
No Limit
AAA & Aaa
or Advisor
90 Days
50% (1) 1
AAA & Aaa
or Advisor
47.9%
53601(n)
Mortgage -Backed
Securities
5 Years
20%
A (Issuer) &
AA (Security)
Not Authorized
16429.1(b)
L.A.I.F.
No Limit I
$50MM/Acct
No Limit $50MM/Acct
36.5%
Footnotes: (2)1 91.5%
(1) Maximum concentration limit for local agency investment pools, excluding bond proceeds.
(2) Total does not include the City Loan to RDA, and cash.
CITY OF PALM DESERT TREASURER'S OFFICE PAGE 3 OF 3