HomeMy WebLinkAbout61965 (4)STATEMENT OF COMPLIANCE
November 2012
The investment of the City of Palm Desert securities portfolio is govemed by California Government Code Section 53601 and by the Palm
Desert Statement of Investment Policy. The City inveslment policy is more conservative than State law. The Pa�m Desert Audit, Finance, and
Investment Committee, and the Palm Desert Ciry Council review the Ciry investment policy annually.
For the month ended November 30, 2012, the City investment portfolio was in compliance with ail applicable state and local laws and
regulations. The City Treasurer's Offce continued to pursue conservative and prudent investment stretegies, based upon the stated objectives
of safety, liquidity, and yield. Barring unforeseen events, the City Treasury should have suffcient cash to f nance City expenditures for the next
six months. !n additien, poRioes of the City inve=_!ment port!olio aould be liquidated in order to meet any signifcant, u�expected cash
requirements.
Interactive Data Services provided the market value prices for secunties in the City investment portfolio. All balances are bank balances.
Respectfully submitted,
✓aI[eS. �'i�aOly L�L' /ll.✓�.
City Treasurer
SUMMARY OF AUTHORIZED INVESTMENTS
California Government Code City Inveslment Polic
CA Govt Maximum Maximum Minimum Maximum Maximum Minimum % of City
Code Investment Cate o Maturit Limit Qualit Maturit Limit Qualit PoMollo
53601(a) Palm Desert Bonds 5 Years No Limit -
53633 Demand Deposits No Limit No Limit No Limit No Limit -
53601(b) U.S. Treasunes 5 Years No Limit 5 Years No Limit -
53601(c) CA State Debt 5 Years No Limit No( 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(� Bankers's Acceptances 180 Days 40% 180 Da s 40% A-1 or P-1 -
53601( 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 i Vear No Limi[ 30 Days 20°/
53601(I) Reverse Repos 92 Days 20% NotAuthorized
53601 ' Medium-Term Notes 5 Years 30% A 5 Years 30% A 4.5%
53601(k) Mone Market Funds 90 Days 20% AAA & Aaa 90 Days 20% AAA & Aaa 22%
53601(I) TrusllndentureDebt NofAuthorized
53601(m) Secured Bank Deposits 5 Years No Limit NotAuthorized
53601(k) Local Government AAA & Aaa AAA & Aaa
Investment Pools 90 Da s No Limit or Advisor 90 Days 50% (7) or Advisor 47.2%
53601(n) Mortgage-Backed 5Years 20% A(Issuer)& NotAufhorized
Securities AA (Security)
16429.1 b L.A.I.F. No Limit $50MM/Acct No Limit $SOMM/Acct 39.1%
(2) 92.9%
Footnotes:
(1) Maximum concentration limit for local agency investment pools, excluding bond prxeeds.
2 Total does not indude the Ci Loan to RDA, and cash.