Debt Treasury
The Debt Treasury Division is responsible for overseeing the following areas:
Debt Management
The Debt Treasury Division is responsible for debt management. Each debt issue is accounted for separately. Over the years, the City has refinanced some of its existing debt to take advantage of favorable interest rates and reduce total future debt service payments.
General Obligation bonds are backed by the full faith and credit of the City. Revenue bonds are secured solely by specified revenue sources. Notes payable are collateralized by ad valorem tax revenue within the boundaries of the Community Redevelopment Area, water and sewer non-ad Valorem, and special assessment revenue. Special assessment debt is collateralized by special assessments levied against the benefited property owners. The related equipment collateralizes capital leases.
By publicly posting the following written disclosure, the City of Cape Coral, Florida, intends those market participants receive and use it for purposes of the independent registered municipal advisor exemption to the SEC municipal advisor rule.
The City of Cape Coral, Florida, has retained Public Financial Management, Inc., (PFM), as its municipal advisor. We are represented by and will rely on our municipal advisor to provide advice concerning the issuance of municipal securities, investment of bond proceeds and escrow investments. The personnel of our municipal advisor, who will advise us on such matters, have not been associated with another broker dealer firm other than PFM, within the two years prior to the date of this certificate. This disclosure may be relied upon until posted otherwise. Any materials may be addressed to us at habrams@capecoral.gov and to our municipal advisor at santamariaj@pfm.com.
Bond Ratings
FY2022 Debt Rating Summary
Treasury Operations
The Cashiers Office of the Accounting Division is responsible for receiving and processing all the City’s financial transactions accurately and promptly. The Cashiers Office is located at City Hall, 1015 Cultural Park Blvd.
The Cashier's Office at City Hall is open from 7:30 am to 4:30 pm.
Investments
The City currently has funds in bank accounts, investment pool accounts, and investment accounts. Florida Statutes, Section 218.415, limits the types of investments a government can invest in unless specifically authorized in an investment policy.
On March 16, 2022, the City of Cape Coral adopted a revised comprehensive investment policy to ensure the prudent management of public funds (safety of principal), the availability of operating and capital funds when needed (maintenance of liquidity), and investment return competitive with comparable funds and financial market indices (return on investment). To achieve these objectives, the policy establishes permitted investments, asset allocation limits, issuer limits, credit rating requirements, and maturity limits to protect the City’s cash and investment assets. The investment policy applies to all cash and investments held or controlled by the City, except Pension Funds and funds related to the issuance of debt.
The City employs an Investment Advisor to assist in managing the investment accounts. The investment advisor prepares quarterly and annual reports, which include performance results and financial information to the investment committee.
Investment Policy - Adopted March 16, 2022
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