HomeMy WebLinkAbout65545 (4)STATEMENT OF COMPLIANCE
August 2013
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 August 31, 2013, 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,
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City Treasurer
SUMMARY OF AUTHORIZED INVESTMENTS
California Government Code
CA Govt
Code
53601(a)
53633
53601(b)
53601(c)
53601(d)
53601(e)
53601(f)
53601(9)
53601(h)
53601(i)
53601(I)
53601 Q)
53601(k
53601(I)
53601(m;
53601(k)
53601(n)
16429.1
5 Years
180 Day.
270 Day:
5 Years
30 Days
.�
No Limit
Footnotes:
(1) Maximum concentration limit for local agency investment pools, excluding bond proceeds.
(21 Total does not include the City Loan to RDA, and cash.
City Investment Pol
Maximum Minimum
Limit Quality
No Limit
No Limit
Not Authorized
Not Authorized
No Limit
40% A-1 or P-1
25% A-1 or P-1
30% AA- or Aa3
20%
Not Authorized
30% A
20% AAA & Aaa
Not Authorized
Not Authorized
AAA & Aaa
50% (1) or Advisor
Not Authorized
M/Acct
(2)
% of City
Portfolio
1.8%
8.1 %
45.0%
34.6%
89.6%
CITY OF PALM DESERT TREASURER'S OFFICE PAGE 3 OF 3 I
Investment Category
Palm Desert Bonds
Demand Deposits
U.S. Treasuries
CA State Debt
CA Local Agency Debt
Federal Agencies
Bankers's Acceptances
Commercial Paper
Neaotiable CDs
Reverse Repos
Medium-Term Notes
Money Market Funds
Trust Indenture Debt
Secured Bank Deposii
Local Government
Investment Pools
Mortgage-Backed
Securities
L.A.I. F.
Maximum
Maturity
5 Years
No Limit
5 Years
5 Years
5 Years
5 Years
180 Days
270 Days
5 Years
1 Year
92 Days
5 Years
90 Days
5 Years No Limit
AAA & Aaa
90 Da s No Limit or Advisor
5 Years 20% A (Issuer) &
AA (Security
No Limit $50MM/Acct
Maximum
Limit
No Limit
No Limit
No Limit
No Limit
No Limit
No Limit
40%
25%
30%
No Limit
20%
30%
20%
Minimum Maximum
(�uality Maturity
No Limit
5 Years
A-1/P-1
A 5 Years
AAA & Aaa 90 Days