HomeMy WebLinkAbout2017/07/24 - ADMIN - Agenda Packets - City Council - Study SessionAGENDA
JULY 24, 2017
STUDY SESSION – Written Reports Only
Written Reports
1. Future Study Session Agenda Planning – August 7 & 14, 2017 and Proposed Study
Session Prioritization Schedule
2. Process for Audit Services for Fiscal Years Ended December 31, 2017-2021
3. June 2017 Monthly Financial Report
4. Second Quarter Investment Report (April – June 2017)
Meeting: Study Session
Meeting Date: July 24, 2017
Written Report: 1
EXECUTIVE SUMMARY
TITLE: Future Study Session Agenda Planning – August 7 & 14, 2017 and Proposed Study
Session Prioritization Schedule
RECOMMENDED ACTION: The City Council and the Deputy City Manager to set the agenda
for the Special Study Session scheduled for August 7 and the regular Study Session on August 14.
Council will also review the proposed study session prioritization schedule and provide input to
staff.
POLICY CONSIDERATION: Does the Council agree with the agendas as proposed?
SUMMARY: This report summarizes the proposed agendas for the Special Study Session on
August 7 and the regular Study Session on August 14. Since there will be no formal meeting on
July 24, please forward comments to Nancy Deno, Deputy City Manager.
Also included in this report is a summary of the results of the recent study session prioritization
survey that Council participated in.
•Staff reviewed the priority listing and has developed a proposed timeline with some
commentary that may affect timing.
•Please review and provide staff with changes, updates or questions.
FINANCIAL OR BUDGET CONSIDERATION: Not applicable.
VISION CONSIDERATION: Not applicable.
SUPPORTING DOCUMENTS: Tentative Agenda – August 7 & 14, 2017
Study Session Prioritization & Projected Discussion Timeline
Prepared by: Debbie Fischer, Administrative Services Office Assistant
Approved by: Nancy Deno, Deputy City Manager/HR Director
Study Session Meeting of July 24, 2017 (Item No. 1) Page 2
Title: Future Study Session Agenda Planning - August 7 & 14, 2017 and Proposed Study Session Prioritization Schedule
AUGUST 7, 2017
6:20 p.m. – Special Study Session – SLP High School Board Room
Tentative Discussion Items
1. Elmwood Revised Development Agreement & PUD Amendment – Comm. Dev. (30 minutes)
Discuss amended redevelopment proposal and tax increment financing request for the mixed-
use redevelopment at 5605 36th Street W. The proposal is for a five-story building with 70
residential apartments age restricted to 55 or older and 4,393 sq.ft. of commercial on the first floor.
2. Kids in the Park Rent Assistance Program – Community Development (30 minutes)
Staff is proposing that council consider implementation of a rent subsidy program to assist low
income households with children attending school in St. Louis Park. The goal is to provide
housing stability for households who have children attending school in St. Louis Park and
whose household income is at or below 50% area median income (AMI). The program would
provide rental assistance to households for 48 months. The program has been developed in
partnership with STEP and the school district.
Written Reports
3. Elmwood Temporary Traffic Control
End of Meeting: 7:20 p.m.
AUGUST 14, 2017
5:30 p.m. – Study Session – Municipal Service Center
Tentative Discussion Items
1. Future Study Session Agenda Planning – Administrative Services (5 minutes)
2. 2018 Budget – Administrative Services (90 minutes)
The 2018 budget preparation is underway and staff will provide an updated on the budget and
any significant changes in revenue and expenditure assumptions. In addition, staff will review
the upcoming budget meeting schedule. Department Directors will also be present.
3. SLP Policing Model/Critical Incident Planning (Session 1 of 4) – Police (60 minutes)
St. Louis Park Police will hold 4 separate monthly sessions (August – November, 2017) to
outline their service delivery model. These will include information on how we police our
community using Community Oriented Policing. It will also include information about police
officer hiring standards, and how we recruit, hire and train our officers.
4. Platia Place Preliminary Plat & Preliminary PUD – Community Development (40 minutes)
Discuss proposed redevelopment plan and preliminary tax increment financing request for a
proposed redevelopment at 9808 and 9920 Wayzata Blvd (former Santorini site). The proposal
includes a 112-room hotel and 149-unit apartment building.
5. Update on Fastpitch Softball – Operations & Recreation (60 minutes)
Staff will provide a status update on the exploration of the middle school site
Communications/Meeting Check-In – Administrative Services (5 minutes)
Time for communications between staff and Council will be set aside on every study session
agenda for the purposes of information sharing.
Written Reports
6. Request for Resolution of Support for Job Creation Fund Application
End of Meeting: 9:50 p.m.
Study Session Meeting of July 24, 2017 (Item No. 1) Page 3
Title: Future Study Session Agenda Planning - August 7 & 14, 2017 and Proposed Study Session Prioritization Schedule
Study Session Prioritization & Projected Discussion Timeline
Date Priority Discussion Topic Comments
August 14 5 SLP Policing Model/Critical Incident
Planning
Session 1 of 4
(Sessions 2 thru 4 tentatively
scheduled for Sep 25, Oct 9, Nov 13)
August 4 Preserving the Walker Building Written Report
September 11 4 Race Equity Communication to HRC on
Outreach & Next Steps
September 11 4 Race Equity/Inclusion Courageous
Conversations
September 25 4 Affordable Housing Preservation
Policies/Ordinance
October 4 Flavored Tobacco Ordinance
4th Qtr 2017 4 Climate Action Plan
Draft being updated by consultant.
Time needed for review by E&S
Commission and staff before ready
for council
August 14 3 Field Improvements/Girls Fastpitch Softball
August 21 3 Ranked Choice Voting Special Study Session including city
attorney
August 3 Revitalization of Walker/Lake Area Part of Preserving Walker Building
report
August 3 Historical Society Space Part of Preserving Walker Building
report
September 11 3 Utilization of DBE Vendors Part of Race Equity items
October 9 3 Property Tax Relief for Seniors Part of 2018 Budget item
October 9 3 Policy for Funding Non-Profits Part of 2018 Budget item
4th Qtr 2017 3 Living Streets Policy After Vision 3.0 work is completed
4th Qtr 2017 3 The Nest Date will be set when the group is
ready. They requested a delay.
1st Qtr 2018 3 Develop a Youth Advisory Commission
October 9 2 Sidewalk Snow Removal Part of 2018 Budget item
October 9 2 Active Space Matching Grants w/ Multi-
Family Communities Part of 2018 Budget item
2 Bird Friendly Glass
2 Dark Skies Ordinance (Light Pollution)
2 Community Center Project
Aug or Sept ** TH 169 Mobility Study **Request from Council
member Brausen
Priority Key
5 = High priority/discuss ASAP
4 = Discuss sooner than later
3 = Discuss when time allows
2 = Low priority/no rush
1 = No need to discuss
Meeting: Study Session
Meeting Date: July 24, 2017
Written Report: 2
EXECUTIVE SUMMARY
TITLE: Process for Audit Services for Fiscal Years Ended December 31, 2017-2021
RECOMMENDED ACTION: No formal action requested. The purpose of this report is to
discuss the request for proposal process for 2017-2021 audit services.
POLICY CONSIDERATION: Does the Council desire to have staff work on a Request for
Proposal (RFP) for 2017-2021 auditing services?
SUMMARY: In 2016, after staff reviewed auditing services, the Council maintained audit
services with Redpath and Company. At that time, Council directed staff to complete a RFP for
auditing services after the 2016 audit. Considering the time and effort involved in transitioning to
a new audit firm, staff recommends a five year contract which is very similar to other audit RFP’s.
In the next few months staff will prepare and send out an RFP for auditing services. Staff will
evaluate/rank the proposals received and recommend two firms to give presentations to the Council
in study session. After the presentation, Council will then select the firm and staff will prepare a
contract for approval at a regular council meeting.
Staff has been satisfied with the high-quality work, integrity, professionalism and industry
knowledge displayed by Redpath and Company during the last seven annual audits and does not
feel the incumbent auditors should be excluded from proposing on the engagement.
NEXT STEPS:
• August/September – Prepare and send out RFP
• September/October – Finance staff evaluation of proposals and selection of top two audit
firms to present at Council study session
• November - Council selection and contract approval by resolution
FINANCIAL OR BUDGET CONSIDERATION: Audit fees are budgeted in the department
budgets.
VISION CONSIDERATION: Not applicable.
SUPPORTING DOCUMENTS: None
Prepared by: Mark Ebensteiner, Finance Manager
Reviewed by: Tim Simon, Chief Financial Officer
Approved by: Nancy Deno, Deputy City Manager/HR Director
Meeting: Study Session
Meeting Date: July 24, 2017
Written Report: 3
EXECUTIVE SUMMARY
TITLE: June 2017 Monthly Financial Report
RECOMMENDED ACTION: No action required at this time.
POLICY CONSIDERATION: None at this time.
SUMMARY: The Monthly Financial Report provides a summary of General Fund revenues
and departmental expenditures and a comparison of budget to actual throughout the year. A
budget to actual summary for the four utility funds is also included in this report.
FINANCIAL OR BUDGET CONSIDERATION: At the end of June, General Fund
expenditures total approximately 47% of the adopted annual budget, which is about 3% under
budget. The attached analysis explains variances.
VISION CONSIDERATION: Not applicable.
SUPPORTING DOCUMENTS: Discussion
Summary of Revenues & Expenditures – General Fund
Budget to Actual – Enterprise Funds
Prepared by: Darla Monson, Accountant
Reviewed by: Tim Simon, Chief Financial Officer
Approved by: Nancy Deno, Deputy City Manager/HR Director
Study Session Meeting of July 24, 2017 (Item No. 3) Page 2
Title: June 2017 Monthly Financial Report
DISCUSSION
BACKGROUND: This report is designed to provide summary information of the overall level
of revenues and departmental expenditures in the General Fund and a comparison of budget to
actual throughout the year. A budget to actual summary for the four utility funds is also included
in this report.
PRESENT CONSIDERATIONS:
General Fund
Actual expenditures should generally run at about 50% of the annual budget at the end of June.
General Fund expenditures are under budget at approximately 47% of the adopted budget in
June. Revenues are harder to measure in this same way due to the timing of when they are
received, examples of which include property taxes, State aid payments and seasonal revenues
for recreation programs. A few comments on variances are noted below.
Revenues:
License and permit revenues are exceeding budget at 71% through June. This is due in part
because most of the 2017 business and liquor license revenue has been received. Permit revenue
is at 64% of budget through June.
Expenditures:
Communications & Marketing is at 61% of budget through June. This variance is due to some
large expenditures for prepayment of postage, the Park Perspective, and the Park & Recreation
brochure year to date.
Organized Recreation also has a temporary variance of 54.7% because the full annual
community education contribution in the amount of $187,400 was paid to the school district in
January.
Study Session Meeting of July 24, 2017 (Item No. 3) Page 3
Title: June 2017 Monthly Financial Report
Utility Funds
Revenues:
The user charges utility revenue in each fund is below 50% due to the timing of the billing
cycles. Utility revenues lag one month behind for commercial accounts and up to a full quarter
behind for some residential accounts depending on the billing cycle.
Other revenue is exceeding budget in the Water Fund due to additional antenna lease revenue.
Expenses:
Total operating expenses in the Sewer Fund typically appear high throughout the year because
the Met Council waste water service charge of $355,300 is paid one month in advance.
Capital outlay will vary during the year based on timing of projects and when expenditures are
incurred.
Summary of Revenues & Expenditures - General Fund As of June 30, 201720172017201520152016201620172017 Balance YTD Budget Budget Audited Budget Audited Budget Jun YTD Remaining to Actual %General Fund Revenues: General Property Taxes22,364,509$ 22,653,095$ 23,597,282$ 24,193,360$ 24,748,436$ -$ 24,748,436$ 0.00% Licenses and Permits3,248,158 4,312,700 3,496,177 4,320,078 3,745,736 2,666,495 1,079,241 71.19% Fines & Forfeits320,200 263,951 341,200 299,808 254,200 140,125 114,075 55.12% Intergovernmental1,292,277 1,669,395 1,419,017 1,656,072 1,631,669 457,821 1,173,848 28.06% Charges for Services1,907,292 2,116,313 1,956,593 2,063,241 2,027,637 809,874 1,217,763 39.94% Miscellaneous Revenue1,196,018 1,357,373 977,546 1,131,632 1,274,415 596,630 677,785 46.82% Transfers In1,851,759 1,867,398 1,872,581 1,881,274 1,899,927 944,963 954,964 49.74% Investment Earnings 140,000 68,908 140,000 114,957 140,000 140,000 0.00% Other Income17,900 61,025 27,450 20,440 30,450 11,969 18,481 39.31% Use of Fund Balance286,325 - 254,891 - 58,541 - 58,541 0.00%Total General Fund Revenues32,624,438$ 34,370,158$ 34,082,737$ 35,680,861$ 35,811,011$ 5,627,877$ 30,183,134$ 15.72%General Fund Expenditures: General Government: Administration979,183$ 1,012,841$ 1,037,235$ 1,118,873$ 1,049,123$ 470,356$ 578,767$ 44.83% Finance912,685 902,901 933,624 869,759 957,275 430,877 526,398 45.01% Assessing602,299 601,687 641,038 607,443 707,139 300,377 406,762 42.48% Human Resources805,929 857,950 748,718 801,958 754,699 335,895 418,804 44.51% Community Development1,245,613 1,253,687 1,385,036 1,281,000 1,366,055 641,234 724,821 46.94% Facilities Maintenance1,094,836 1,072,749 1,115,877 1,099,973 1,132,774 536,145 596,629 47.33% Information Resources1,468,552 1,374,074 1,564,128 1,492,734 1,570,712 718,204 852,508 45.72% Communications & Marketing635,150 571,815 608,228 657,758 646,841 394,566 252,275 61.00% Community Outreach24,677 22,380 25,587 22,718 26,553 10,536 16,017 39.68% Engineering492,838 381,148 549,251 436,228 376,601 118,667 257,934 31.51%Total General Government8,261,762$ 8,051,233$ 8,608,722$ 8,388,443$ 8,587,772$ 3,956,858$ 4,630,914$ 46.08% Public Safety: Police8,511,557$ 8,248,745$ 8,698,661$ 8,754,092$ 9,217,988$ 4,699,922$ 4,518,066$ 50.99% Fire Protection3,722,396 3,759,386 4,030,153 3,939,435 4,407,656 2,100,820 2,306,836 47.66% Inspectional Services2,139,325 2,002,445 2,216,075 2,082,694 2,419,073 1,120,677 1,298,396 46.33%Total Public Safety14,373,278$ 14,010,577$ 14,944,889$ 14,776,220$ 16,044,717$ 7,921,419$ 8,123,298$ 49.37% Operations & Recreation: Public Works Administration232,437$ 213,383$ 241,304$ 240,497$ 266,249$ 125,418$ 140,831$ 47.11% Public Works Operations2,763,735 2,388,560 2,907,781 2,699,375 3,019,017 1,369,526 1,649,491 45.36% Organized Recreation1,304,470 1,360,454 1,431,260 1,396,737 1,472,996 805,461 667,535 54.68% Recreation Center1,591,115 1,575,042 1,602,935 1,687,724 1,744,651 808,612 936,039 46.35% Park Maintenance1,550,033 1,513,700 1,634,249 1,627,700 1,721,732 860,036 861,696 49.95% Westwood Nature Center564,055 560,744 576,173 555,887 602,400 280,718 321,682 46.60% Natural Resources472,049 377,617 479,408 362,094 550,235 169,306 380,930 30.77% Vehicle Maintenance1,333,520 1,118,048 1,358,946 1,130,622 1,384,038 537,570 846,468 38.84%Total Operations & Recreation9,811,414$ 9,107,547$ 10,232,056$ 9,700,637$ 10,761,318$ 4,956,647$ 5,804,671$ 46.06% Non-Departmental: General -$ 123,720$ 30,351$ 63,648$ 31,909$ 15,930$ 15,979$ 49.92% Transfers Out- 2,194,245 - 1,873,000 - - - 0.00% Contingency177,984 14,438 266,719 104,224 385,295 20,683 364,612 5.37%Total Non-Departmental177,984$ 2,332,403$ 297,070$ 2,040,871$ 417,204$ 36,613$ 380,591$ 8.78%Total General Fund Expenditures32,624,438$ 33,501,760$ 34,082,737$ 34,906,172$ 35,811,011$ 16,871,536$ 18,939,475$ 47.11%Study Session Meeting of July 24, 2017 (Item No. 3) Title: June 2017 Monthly Financial ReportPage 4
Budget to Actual - Enterprise FundsAs of June 30, 2017Current BudgetJun Year To DateBudget Variance% of BudgetCurrent BudgetJun Year To DateBudget Variance% of BudgetCurrent BudgetJun Year To DateBudget Variance% of BudgetCurrent BudgetJun Year To DateBudget Variance% of BudgetOperating revenues: User charges 6,420,438$ 1,947,695$ 4,472,743$ 30.34% 6,915,804$ 2,739,585$ 4,176,219$ 39.61% 3,319,001$ 1,177,678$ 2,141,323$ 35.48% 2,853,520$ 1,165,849$ 1,687,671$ 40.86% Other 375,000 424,055 (49,055) 113.08% 30,000 3,336 26,664 11.12% 148,000 564 147,436 0.38% - - - Total operating revenues6,795,438 2,371,750 4,423,688 34.90% 6,945,804 2,742,921 4,202,883 39.49% 3,467,001 1,178,242 2,288,759 33.98% 2,853,520 1,165,849 1,687,671 40.86%Operating expenses: Personal services1,322,998 672,473 650,525 50.83% 613,321 398,057 215,264 64.90% 590,172 260,501 329,671 44.14% 705,221 255,035 450,186 36.16% Supplies & non-capital544,800 122,845 421,955 22.55% 65,050 21,552 43,498 33.13% 153,350 66,456 86,894 43.34% 30,800 704 30,096 2.29% Services & other charges1,688,398 797,124 891,274 47.21% 4,764,546 2,734,364 2,030,182 57.39% 2,692,499 1,027,482 1,665,017 38.16% 597,828 84,263 513,565 14.09% Depreciation * Total operating expenses3,556,196 1,592,442 1,963,754 44.78% 5,442,917 3,153,973 2,288,944 57.95% 3,436,021 1,354,439 2,081,582 39.42% 1,333,849 340,002 993,847 25.49%Operating income (loss)3,239,242 779,308 2,459,934 24.06% 1,502,887 (411,052) 1,913,939 -27.35% 30,980 (176,197) 207,177 -568.74% 1,519,671 825,847 693,824 54.34%Nonoperating revenues (expenses): Interest income 3,408 - 3,408 1,953 - 1,953 0.00% 30,849 - 30,849 0.00% 2,875 - 2,875 0.00% Other misc income- - - - - -2,500 - 2,500 0.00%- - - Interest expense/bank charges(182,037) (98,190) (83,847) 53.94% (16,016) (11,063) (4,953) 69.07% (11,000) (9,604) (1,396) 87.31% (30,604) (18,894) (11,710) 61.74% Total nonoperating rev (exp)(178,629) (98,190) (80,439) 54.97% (14,063) (11,063) (3,000) 78.67% 22,349 (9,604) 31,953 -42.97% (27,729) (18,894) (8,835) 68.14%Income (loss) before transfers3,060,613 681,118 2,379,495 22.25% 1,488,824 (422,115) 1,910,939 -28.35% 53,329 (185,801) 239,130 -348.40% 1,491,942 806,953 684,989 54.09%Transfers inTransfers out(584,451) (292,226) (292,225) 50.00% (799,648) (399,824) (399,824) 50.00% (227,229) (113,615) (113,614) 50.00% (313,067) (156,533) (156,534) 50.00%NET INCOME (LOSS)2,476,162 388,892 2,087,270 15.71% 689,176 (821,939) 1,511,115 -119.26% (173,900) (299,416) 125,516 172.18% 1,178,875 650,420 528,455 55.17%Items reclassified to bal sht at year end: Capital Outlay(3,163,298) (1,097) (3,162,201) 0.03% (785,983) (1,097) (784,886) 0.14%- - - (2,191,667) (1,097) (2,190,570) 0.05%Revenues over/(under) expenditures(687,136) 387,795 (1,074,931) (96,807) (823,036) 726,229 (173,900) (299,416) 125,516 (1,012,792) 649,323 (1,662,115) *Depreciation is recorded at end of year (non-cash item).Water SewerSolid WasteStorm WaterStudy Session Meeting of July 24, 2017 (Item No. 3) Title: June 2017 Monthly Financial ReportPage 5
Meeting: Study Session
Meeting Date: July 24, 2017
Written Report: 4
EXECUTIVE SUMMARY
TITLE: Second Quarter Investment Report (April – June 2017)
RECOMMENDED ACTION: No action required at this time.
POLICY CONSIDERATION: None at this time.
SUMMARY: The Quarterly Investment Report provides an overview of the City’s investment
portfolio, including the types of investments held, length of maturity, and yield.
FINANCIAL OR BUDGET CONSIDERATION: The total portfolio value at June 30, 2017 is
approximately $50.4 million. Over $36 million is invested in longer term securities that include
U.S. Treasury notes, Federal agency bonds, municipal debt securities, and certificates of deposit.
The remainder is held in money market accounts and commercial paper for future cash flow
needs. The overall yield is at 1.23%, which is up from 1.17% last quarter and .88% at the end of
2016.
VISION CONSIDERATION: Not applicable.
SUPPORTING DOCUMENTS: Discussion
Investment Portfolio Summary
Prepared by: Darla Monson, Senior Accountant
Reviewed by: Tim Simon, Chief Financial Officer
Approved by: Nancy Deno, Deputy City Manager/HR Director
Study Session Meeting of July 24, 2017 (Item No. 4) Page 2
Title: Second Quarter Investment Report (April – June 2017)
DISCUSSION
BACKGROUND: The City’s investment portfolio is focused on short term cash flow needs and
investment in longer term securities. This is done in accordance with Minnesota Statute 118A
and the City’s Investment Policy objectives of: 1) Preservation of capital; 2) Liquidity; and 3)
Return on investment.
PRESENT CONSIDERATIONS: The total portfolio value increased by $4.2 million in the
second quarter of 2017 from $46.2 million at 3/31/2017 to $50.4 million at 6/30/2017. The
increase was primarily in the money market accounts, as the 70% advance payment of the first
half property tax settlement was received on June 21. The remainder of the first half settlement
along with the tax increment settlement is received early in July.
The overall yield of the portfolio increased to 1.23% compared to 1.17% at 3/31/2017 and .88%
at 12/31/2016. Cities typically use a benchmark such as the two year Treasury, which was at
1.38% on 6/30/2017, or a similar measure for yield comparison of their overall portfolio. While
larger balances in money market accounts reduce the portfolio yield slightly, it is necessary to
keep cash available for the August 1st debt service payments, contract payments for summer
construction projects, and on-going expenses for payroll and operating expenses. Money market
rates continued to increase during the quarter by about .2% and range from .62% to .74%.
In addition to the $10.7 million of cash held in money market accounts, the portfolio also has
$3.4 million of commercial paper with maturity dates that range from 45 days to 6 months and
interest rates averaging 1.35% for investing cash in the shorter term. Commercial paper are
promissory notes with short maturity periods issued by financial institutions and large
corporations.
Approximately $5 million of the portfolio is invested in fixed and step rate certificates of deposit.
There are currently 21 CD’s in the portfolio, each with a face value of $245,000 or less, which
guarantees that each CD is insured by the FDIC up to $250,000. They have varying maturity
dates over the next 3 ½ years with rates of up to 2.3%. Two CD’s reached maturity during the
quarter.
The remaining $31.3 million of the portfolio is invested in other long term securities which
include municipal bonds ($7 mil), Federal agency bonds ($11 mil) and U.S. Treasury notes
($13.3 mil). Municipal bonds are issued by States, local governments, or school districts to
finance special projects. Agency bonds are issued by government agencies such as the Federal
Home Loan Bank or Fannie Mae and may have call dates where they can be called prior to their
final maturity date. Two municipal bonds matured during the quarter and were replaced with
Federal securities.
The proceeds from the 2017 bond issue will be received in July and invested in the 4M
Municipal Money Market Fund while being spent down on capital projects.
Study Session Meeting of July 24, 2017 (Item No. 4) Page 3
Title: Second Quarter Investment Report (April – June 2017)
Here is a summary of the City’s portfolio at June 30, 2017:
NEXT STEPS: None at this time.
3/31/17 6/30/17
<1 Year 39% 40%
1-2 Years 12% 16%
2-3 Years 18% 14%
3-4 Years 19% 22%
>4 Years 12% 8%
3/31/17 6/30/17
Money Markets/Cash $6,716,375 $10,698,392
Commercial Paper $2,792,173 $3,382,710
Certificates of Deposit $5,472,967 $4,987,191
Municipal Debt $8,521,700 $7,004,660
Agency Bonds/Treas Notes $22,711,042 $24,338,435
City of St. Louis Park
Investment Portfolio Summary
June 30, 2017
Institution/Broker Investment Type CUSIP Maturity Date Yield Par Value
Market Value at
6/30/2017
Estimated Avg
Annual Income
Citizens Indep Bank Money Market 0.05%1,470 1,470 1
4M Liquid Asset Money Market 0.62%540,699 540,699 3,352
4MP Liquid Asset Money Market 0.70%9,001,920 9,001,920 63,013
9,542,619
UBS Institutional Money Market 0.74% 1,105,579 1,105,579 8,181
UBS Institutional Money Market 0.74% 48,724 48,724 361
1,154,303
PFM Comm Paper - Bank Tokyo 06538BVF7 08/15/2017 1.35% 800,000 798,760 10,800
PFM Comm Paper - Credit Agricole CIB NY 22533TX27 10/02/2017 1.34% 1,000,000 996,690 13,400
PFM Comm Paper - BNP Paribas NY 09659CAG3 01/16/2018 1.39% 1,000,000 992,000 13,900
PFM Comm Paper - Toyota Motor Credit 89233HAG9 01/16/2018 1.32% 600,000 595,260 7,920
3,382,710
PFM CD - Sallie Mae Bnk UT 79545OPE9 08/29/2017 1.70% 240,000 240,322 4,080
PFM CD - Sun Natl Bank NJ 86682ABV2 10/03/2017 1.00% 240,000 239,942 2,400
PFM CD - Everbank Jacksonvl FL 29976DPB0 10/31/2017 1.00% 240,000 239,899 2,400
PFM CD - Comenity Bank DE 981996AX9 12/05/2017 1.25% 200,000 200,200 2,500
PFM CD - Banco Popular PR 05967ESG5 12/05/2017 1.10% 240,000 240,317 2,640
PFM CD - Ally Bank UT 02006LNL3 02/05/2018 1.25% 240,000 240,067 3,000
PFM CD - Third Fed S&L Assn OH 88413QAT5 02/22/2018 1.35% 240,000 240,211 3,240
PFM CD - Cit Bank UT 17284CH49 06/04/2019 1.90% 240,000 241,380 4,560
PFM CD - Amer Exp F UT 02587CAC4 07/10/2019 1.95% 240,000 241,762 4,680
PFM CD - Capital One Bank 14042E4S6 07/15/2019 1.95% 240,000 241,231 4,680
PFM CD - First Bk Highland IL 3191408W2 08/13/2019 2.00% 240,000 240,281 4,800
PFM CD - Webster Bk NA CT 94768NJX3 08/20/2019 1.90% 240,000 241,757 4,560
PFM CD - Capital One Bank 140420PS3 10/08/2019 2.10% 240,000 242,268 5,040
PFM CD - State Bk India IL 856283XJ0 10/15/2019 2.10% 240,000 242,323 5,040
PFM CD - Goldman Sachs Bank NY 38148JHB0 01/14/2020 2.20% 240,000 242,894 5,280
PFM CD - Amer Express UT 02587DXE3 01/30/2020 1.95% 240,000 241,507 4,680
PFM CD - Camden Nat'l Bank ME 133033DR8 02/26/2020 1.80% 240,000 241,913 4,320
PFM CD - Private Bank & Tr IL 74267GVA2 02/27/2020 1.75% 240,000 242,222 4,200
PFM CD - HSBC Bank DE Step Rate 40434ASZ3 03/30/2020 1.25% 240,000 239,899 3,000
PFM CD - World's Foremost 9159919E5 08/06/2020 2.30% 200,000 198,600 4,600
PFM CD - Comenity Cap Bk UT 20033AND4 10/13/2020 2.00% 245,000 248,195 4,900
4,987,191
PFM Muni Debt - N. Orange Cty CA 661334DR0 08/01/2017 1.16% 1,000,000 1,000,350 11,600
PFM Muni Debt - NYC Trans Fin Auth 64971QH55 11/01/2018 1.33% 1,000,000 997,270 13,280
PFM Muni Debt - Williamston Mich Sch 970294CN2 05/01/2019 1.46% 2,000,000 2,020,020 29,200
PFM Muni Debt - New York City 64971WUX6 08/01/2019 1.33% 2,000,000 1,994,160 26,600
PFM Muni Debt - Connecticut St 20772JKN1 10/15/2020 1.78% 1,000,000 992,860 17,800
7,004,660
PFM Fannie Mae 3136G1AZ2 01/30/2018 1.00% 200,000 199,810 2,000
PFM FHLB Bond 3130A7CX1 03/19/2018 0.90%3,400,000 3,391,330 30,600
PFM FHLB Global 3130A9AE1 10/01/2018 0.91%2,000,000 1,987,920 18,200
PFM US Treasury Note 912828WD8 10/31/2018 0.89% 370,000 369,567 3,293
PFM FHLB 3130AAE46 01/16/2019 1.25% 730,000 728,518 9,125
PFM FNMA 3135G0H63 01/28/2019 1.03%1,600,000 1,599,776 16,480
PFM FHLB Global 3130A9EP2 09/26/2019 1.04%1,400,000 1,385,776 14,560
PFM FHLMC 3137EAEF2 04/20/2020 1.49%1,000,000 994,090 14,900
PFM US Treasury Note 912828VP2 07/31/2020 1.23% 1,250,000 1,265,475 15,375
PFM US Treasury Note 912828L32 08/31/2020 1.34% 1,100,000 1,092,267 14,740
PFM US Treasury Note 912828L32 08/31/2020 0.93% 1,200,000 1,191,564 11,160
PFM US Treasury Note 912828L32 08/31/2020 0.89% 1,000,000 992,970 8,900
PFM US Treasury Note 912828L32 08/31/2020 1.09% 700,000 695,079 7,630
PFM US Treasury Note 912828N48 12/31/2020 1.02% 250,000 250,713 2,550
PFM US Treasury Note 912828N48 12/31/2020 1.12% 750,000 752,138 8,400
PFM US Treasury Note 912828Q78 04/30/2021 1.86% 1,050,000 1,036,592 19,530
PFM US Treasury Note 912828Q78 04/30/2021 1.87% 675,000 666,380 12,623
PFM US Treasury Note 912828R77 05/31/2021 2.02% 1,600,000 1,577,808 32,320
PFM FHLB Global 3130A8QS5 07/14/2021 1.25% 750,000 730,778 9,375
PFM US Treasury Note 912828D72 08/31/2021 1.86% 600,000 605,274 11,160
PFM US Treasury Note 912828D72 08/31/2021 1.73% 1,200,000 1,210,547 20,760
PFM US Treasury Note 912828D72 08/31/2021 1.93% 1,600,000 1,614,065 30,880
24,338,435
GRAND TOTAL 50,411,388 618,569
Current Portfolio Yield To Maturity 1.23%
Study Session Meeting of July 24, 2017 (Item No. 4)
Title: Second Quarter Investment Report (April – June 2017)Page 4