NOTICE OF INVESTMENT COMMITTEE MEETING OF THE …€¦ · GROSSMONTHDBNDS10\Rating Agency Presentation\GHD 2010B - Rating Pres v6 (FINAL).pptx 4 Cash and Investments - General Fund

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NOTICE OF INVESTMENT

COMMITTEE MEETING OF THE GROSSMONT HEALTHCARE DISTRICT

An Investment Committee Meeting of Grossmont Healthcare District will be held Monday, July 16, 2018 at 9:00 a.m. in the Administrative Conference Room of the Grossmont Healthcare District, 9001 Wakarusa Street, La Mesa, California. AGENDA July 16, 2018 – 9:00 a.m.

A. Call To Order

B. Approval of Agenda

C. Public Comment

D. Discussion/Action Items

1. Approve re-investment of up to $5,000,000 General Fund cash currently in LAIF into federally backed GSE Agency securities with a maturity range of 24 to 48 months.

2. Review and approval of Investment Report for the Quarter and Year Ended June 30, 2018.

E. Next Meeting

F. Adjournment

GROSSMONTHDBNDS10\Rating Agency Presentation\GHD 2010B - Rating Pres v6 (FINAL).pptx

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IRWDCOPS2010\Rating Agency Presentation\Irvine Ranch Water District_v21.pptIRWDCOPS2010\Rating Agency Presentation\Irvine Ranch Water District_v19.ppt

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IRWDCOPS2010\Rating Agency Presentation\Irvine Ranch Water District_v19.ppt

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Quarter and Year EndedJune 30, 2018

Investment Report

Executive Summary

Following are select highlights for FY17:

• The District’s cash and investment portfolio remains invested primarily in AAA debt instruments secured by the U.S.

government.

• The General Fund portfolio continues to grow.

• All investments are purchased with a “buy and hold” philosophy.

• Cash and investment balances in the “Building Fund” are decreasing due to the completion of the final Prop. G project.

• Investment earnings outpaced budget across all funds.

• Yields are continuing to trend up.


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"I certify that this report reflects the GrossmontHealthcare District's cash/investment portfolio inconformity with the State of California GovernmentCode on authorized investments and with theInvestment Policy of the District dated May 18, 2018,with the exception of the money market mutual fundmaximum policy portfolio limitation explained onslide 13."

“I further certify the District has the ability to meet allscheduled expenditure requirements for the next sixmonths.”


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Cash and Investments - General Fund June 30, 2018

Source: Tracker Investment Portfolio Manager

Total $

Note: Chart excludes petty cash of $34, grant savings of $91, and deposits of $500.

$2,541,925

$13,374,909

$8,430,555

$-

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

Operating Accounts Board Contingency Reserve Fund LAIF


Cash and Investments - GO Bond Funds - 2015D Refunding BondsIrrevocable Escrow Trust Account with Union Bank

June 30, 2018

5Source: Tracker Investment Portfolio ManagerNote: These funds, totaling $138,405,894, are not under the control of the District and are not included in the District’s investment

portfolio. However, the District does maintain a fiduciary responsibility over them.

$3,376,404

$1,330,514

$82,642,981

$48,914,607

$2,141,388

Cash US Treasury US Treasury Zero's (Strips) Federal Goverment Agency US Government Agency - Discount


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Restricted Cash and Investments - All Funds June 30, 2018

Cash Reservations and Restrictions:

Unpaid Grants and Charitable Events $ 566,164

GO Bond Funds - Projects and Debt Service 26,534,403

Board Contingency Reserve Fund 15,350,000

Subtotal 42,450,567$

Unobligated Cash and Investments – General Fund June 30, 2018


7Source: Tracker Investment Portfolio Manager

GHD Board Contingency Reserve Fund $15,350,000

$13,374,909

$1,975,091

Bank of the West LAIF

$2,541,925

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

GHD Operating Accounts


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Cash and Investments – GO Bond FundsJune 30, 2018

Source: Tracker Investment Portfolio ManagerNote: Excludes $8,712 in 2007A and 2015C&D debt service accounts.

$12,238,955

$14,286,736

$11,000,000

$11,500,000

$12,000,000

$12,500,000

$13,000,000

$13,500,000

$14,000,000

$14,500,000

2011B Debt Service Fund 2015C Building Fund


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Cash and Investments - By Maturity Range (All Funds)June 30, 2018


$35,781,299

$498,330

$4,498,904

$6,649,000

$3,454,385

$-

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

0-1 Months 1-6 Months 6-12 Months 1-2 Years 2-3 Years


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Investment Ratings (All Funds)June 30, 2018


Investment Type AAA AA Not Rated

U.S. Government Sponsored Entities 15,100,619$ 15,100,619$ -$ -$

Money Market Mutual Funds 24,808,694 24,808,694 - -

State and County Pooled Funds 8,430,555 - - 8,430,555

48,339,868$ 39,909,313$ -$ 8,430,555$

Rating as of Year End


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Investment Income - General Fund FY18 Year to Date

Actual cash received for Quarter 4 was $51,578.

$-

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

First Second Third Fourth

$37,066

$8,717

$29,678

$67,017

$22,500 $22,500 $22,500 $22,500

INVESTMENT INCOME-GENERAL FUND INVESTMENTS

Actual

Budget

Quarter Actual Budget

First 37,066$ 22,500$

Second 8,717 22,500

Third 29,678 22,500

Fourth 79,346 22,500

Total 154,807$ 90,000$

General Fund


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Investment Income - Bond Funds FY18 Year to Date

Actual cash received for Quarter 4 was $102,104.

Quarter Actual Budget

First 76,785$ 30,000$

Second 46,688 25,000

Third 74,011 20,000

Fourth 96,941 15,000

Total 294,425$ 90,000$

Bond Funds

$-

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

$100,000

First Second Third Fourth

$76,785

$46,688

$74,011

$96,941

$30,000 $25,000

$20,000 $15,000

INVESTMENT INCOME-PROP G BOND INVESTMENTS

Actual

Budget


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Cash and Investments - Policy Criteria

The project fund requires a high level of liquidity to meet Level 1 project contractor payments and projectexpenses over the next seven months at which time the project will be completed. This item has beendiscussed in detail in the Investment Committee.

Authorized Investment Authorization Met

Insured CD's under 5 years N/A none in portfolio

Negotiable CD's limited to 20% of portfolio N/A none in portfolio

State investment pool LAIF balance $8,430,555

U.S. direct securities N/A none in portfolio

U.S. agencies Total $15,100,619

Savings/Demand accounts Torrey Pines accounts

Money market mutual funds limited to 20%

of portfolio (district controlled) 49% (see explanation below)

List of Individual Accounts and Securities - All FundsJune 30, 2018


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Description CUSIP/Ticker Security Type YTM @ Cost Face Amount/Shares Cost Value Book Value Market Value % of Portfolio

Petty Cash Cash PETTYCASH Cash 0.000 34.20 34.20 34.20 34.20 0.00

Torrey Pines Bank Cash CASH0868 Cash 0.100 372,823.80 372,823.80 372,823.80 372,823.80 0.73

Sub Total / Average 0.100 372,858.00 372,858.00 372,858.00 372,858.00 0.73

Local Agency Investment Fund LGIP LAIF7006 Local Government Investment Pool 1.854 8,430,554.80 8,430,554.80 8,430,554.80 8,430,554.80 16.50

Sub Total / Average 1.854 8,430,554.80 8,430,554.80 8,430,554.80 8,430,554.80 16.50

001 Dreyfus Treasury Prime MM MM7001 Money Market 1.690 10,513,245.44 10,513,245.44 10,513,245.44 10,513,245.44 20.58

402 Dreyfus Treasury Prime MM MM1402 Money Market 1.690 14,286,736.37 14,286,736.37 14,286,736.37 14,286,736.37 27.97

801 Dreyfus Treasury Prime MM MM2801 Money Market 1.690 3,490.79 3,490.79 3,490.79 3,490.79 0.01

Dreyfus MM MM401 Money Market 1.690 855.28 855.28 855.28 855.28 0.00

Dreyfus MM MM405 Money Market 1.690 4,365.68 4,365.68 4,365.68 4,365.68 0.01

Torrey Pines Bank MM MM0892 Money Market 0.500 2,169,100.76 2,169,100.76 2,169,100.76 2,169,100.76 4.25

Torrey Pines MM MM0501 Money Market 0.130 91.40 91.40 91.40 91.40 0.00


Money Market

Cash

Local Government Investment Pool

List of Individual Accounts and Securities - All FundsJune 30, 2018


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Description CUSIP/Ticker Security Type YTM @ Cost Face Amount/Shares Cost Value Book Value Market Value % of Portfolio

FFCB 0.95 7/1/2019 3133EGJC0 FFCB Bond 0.997 1,750,000.00 1,747,550.00 1,749,181.10 1,725,710.00 3.43

FFCB 1.15 7/1/2019 3133EFW52 FFCB Bond 1.128 1,800,000.00 1,801,260.00 1,800,397.89 1,778,616.00 3.52

FFCB 1.2 2/13/2019 3133EG6Z3 FFCB Bond 1.277 500,000.00 499,250.00 499,764.79 496,865.00 0.98

FFCB 1.5 1/16/2019 3133EDYB2 FFCB Bond 1.312 250,000.00 250,717.50 250,253.53 249,072.50 0.49

FFCB 1.9 11/27/2020 3133EHW58 FFCB Bond 1.900 500,000.00 500,000.00 500,000.00 491,135.00 0.98

FHLB 0.875 10/15/20183130A8ZW6 FHLB Bond 1.161 500,000.00 497,650.00 499,585.07 498,330.00 0.98

FHLB 0.875 8/5/2019 3130A8Y72 FHLB Bond 0.940 3,000,000.00 2,994,360.00 2,997,882.36 2,949,540.00 5.87

FHLB 1.25 1/25/2019 3130ABAV8 FHLB Bond 1.200 250,000.00 250,194.21 250,070.59 248,640.00 0.49

FHLB 1.54 6/5/2020 3130ABJQ0 FHLB Bond 1.548 500,000.00 499,885.00 499,924.26 490,080.00 0.98

FHLB 1.55 2/6/2020 3130AAS82 FHLB Bond 1.600 1,000,000.00 998,550.00 999,216.87 984,460.00 1.96

FHLB 1.75 12/13/2019 3133383HU8 FHLB Bond 1.876 750,000.00 748,115.55 748,651.42 737,797.50 1.47

FHLB 1.75 6/12/2020 313383HU8 FHLB Bond 1.566 500,000.00 502,645.00 501,747.81 491,865.00 0.98

FHLB 2.375 12/13/20193130A0JR2 FHLB Bond 1.790 750,000.00 758,730.00 756,239.07 748,567.50 1.47

FHLB 2.375 3/12/2021 3130A0XD7 FHLB Bond 2.400 1,500,000.00 1,498,920.00 1,499,009.41 1,481,625.00 2.94

FHLB 2.375 3/12/2021 3130A0XD7 FHLB Bond 2.455 1,500,000.00 1,496,535.00 1,496,891.27 1,481,625.00 2.94

FHLMC 1.4 8/22/2019 3134G3A91 FHLMC Bond 1.398 250,000.00 250,010.00 250,005.33 246,690.00 0.49


Total / Average 1.598 51,081,298.52 51,075,670.78 51,080,119.29 50,881,917.02 100

US Agency

Documents

NOTICE OF INVESTMENT COMMITTEE MEETING OF THE …€¦ · GROSSMONTHDBNDS10\Rating Agency Presentation\GHD 2010B - Rating Pres v6 (FINAL).pptx 4 Cash and Investments - General Fund