Berkeley City Council
June 28, 2022

1093
1094
Office of the City Manager
2180 Milvia Street, Berkeley, CA 94704 ● Tel: (510) 981-7000 ● TDD: (510) 981-6903 ● Fax: (510) 981-7099 E-Mail: [email protected] Website: http://www.cityofberkeley.info/manager

INFORMATION CALENDAR
June 28, 2022
To: Honorable Mayor and Members of the City Council
From: Dee Williams-Ridley, City Manager
Submitted by: Henry Oyekanmi, Director, Finance Department Subject: FY 2022 Second Quarter Investment Report: Ended December 31, 2021

SUMMARY
The City’s investment policy requires that a quarterly investment report be submitted to the City Council on the status of the investment portfolio. The report includes all investments managed by the City of Berkeley and provides information on the types, values (par, book, and market), term, and yield of each security.  The return on pooled investments for the quarter ended December 31, 2021 was

1.10%, 89 basis points more than the .21% earned by the State Local Agency Investment Fund (State LAIF), which is the benchmark for investment performance used by the City. The return on pooled investments of 1.10% for the quarter ended December 31, 2021 was 11 basis points more than the rate of .99% earned in the quarter ended September 30, 2021.
 The average return on all Retiree Medical Trust Fund investments was 4.06% for the quarter ended December 31, 2021.

CURRENT SITUATION AND ITS EFFECTS
Attached is a summary of quarterly reports for the fiscal year 2022 Second Quarter ending December 31, 2021 representing the status of the City’s investment portfolio. The report includes all investments managed by the City of Berkeley and provides information on the values (par, book, and market), term, and yield of each security.

Summary information by type of security and detailed information on each security is provided on Exhibit 2-A. An evaluation of portfolio performance for this accounting period compared to the previous three accounting periods is also included in Attachment 1.

1095
Investment Report: FY2022 2nd Qtr INFORMATION CALENDAR Ended December 31, 2021 JUNE 28, 2022

A. Portfolio Results
As a result of the differences in the investment policies of different cities, including responsible investing policies, maturity restrictions, investment restrictions, etc., it was difficult for the City of Berkeley to come up with a reasonable performance measure for pooled cash investments. In order to provide some measure of the relative performance of the City’s investment returns, many years ago the City established the State Local Agency Investment Fund (LAIF) as the performance measure to be reported in the quarterly investment reports, since many local governments invested significant portions of their investment portfolios in LAIF.

LAIF was intended to be a reference point to compare the City’s investment performance against, rather than a true performance measure, since most cities typically earn a yield higher than LAIF in normal interest rate environments, and because LAIF’s average maturity of its investments is generally shorter than most cities. As a result, past City Councilmembers requested that information about the rates earned by other California cities be included in the quarterly investment reports for comparison purposes, despite the differences in the investment policies of the various cities.

1. Liquidity of Portfolio:

The average investment in the pooled portfolio matures in 1,300 days as of December 31, 2021. This is 4 days less than the 1,304 maturity days as of September 30, 2021.

2. Comparison of Results to Performance Measures – Pooled investments:

Quarter Ended December 31, 2021
The City’s yield on investments for the quarter ended December 31, 2021 was

1.10%, an increase of 11 basis points (.11%) from the .99% earned during the quarter ended September 30, 2021. The average yield on a 90-day Treasury bill at the end of the quarter ended December 31, 2021 was .030%, a decrease of .3 basis points (.003%) from the .033% at the end of the previous quarter.

As summarized in Table 1, staff’s overall results were above the performance measure for the quarter. Staff’s performance was above the performance measure in October by approximately 86 basis points (+.86%); over the performance measure in November by approximately 91 basis points (+.91%); and, was over the performance measure in December by approximately 82 basis points (+.82%).

The performance measure for the return on investments is compared to the rate of return of the State LAIF.

1096
Investment Report: FY2022 2nd Qtr INFORMATION CALENDAR Ended December 31, 2021 JUNE 28, 2022

Table 1
For Quarter Ending December 31, 2021
Period City State LAIF Difference
Oct-21 1.06% .20% +0.86%
Nov-21 1.11% .20% +0.91%
Dec-21 1.03% .21% +0.82%
Oct1-Dec 31

1.10% .21% 0.89%

3. Investment Results-Retiree Health Insurance Funds:

Average interest rates earned on the retiree health insurance trust funds for the quarter ended December 31, 2021 compared to the quarter ended September 30 2021, were as follows:

Table 2

EARNED INTEREST RATES
For Quarter Ended 12/31/2021 Compared To 9/30/2021
Trust Fund 2nd Qtr
12/31/21
1st Qtr
09/30/21
Retiree Medical Trust Fund (Misc Employees) 4.421% 3.984% Fire Retiree Medical Trust Fund 3.671% 3.235%
Police Retiree Medical Trust Fund 3.327% 2.887%
The rates earned on these plans are expected to be higher in the future, as staff plans to use the investment authority granted by Council to purchase Bond and Stock Mutual Funds or Index Funds.

Details related to retiree health trust fund investments are in Attachment 3, Exhibits 3- A, 3-B, and 3-C of this report.

B. Discussion of Interest Rate Environment and Outlook
In its March 16, 2022 statement, the Federal Open Market Committee indicated that “indicators of economic activity and employment have continued to strengthen. Job gains have been strong in recent months, and the unemployment rate has declined

1097
Investment Report: FY2022 2nd Qtr INFORMATION CALENDAR Ended December 31, 2021 JUNE 28, 2022

substantially. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures.

The invasion of Ukraine by Russia is causing tremendous human and economic hardship.

The implications for the U.S. economy are highly uncertain, but in the near term the invasion and related events are likely to create additional upward pressure on inflation and weigh on economic activity.

Yield Trend
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With appropriate firming in the stance of monetary policy, the Committee expects inflation to return to its 2 percent objective and the labor market to remain strong. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 1/4 to 1/2 percent and anticipates that ongoing increases in the target range will be appropriate. In addition, the Committee expects to begin reducing its holdings of Treasury securities and agency debt and mortgage-backed securities at a coming meeting. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook.

The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals.

A January 12-19, 2022 Reuters poll expects the Fed to raise the Federal Funds rate at least three times in FY 2022, starting in March, and an additional three times in 2023, bringing the rate to a minimum of 1.50% to 1.75% by the end of 2023. Staff believes the Fed will raise the Federal Funds rate more times than is indicated in the poll, and that some of their increases will be greater than 1/4 percent.

Change in Strategy
Prior to the Fed’s change in monetary policy starting March 16, 2022, staff’s basic strategy consisted of not locking in any Agency or Medium-Term corporate note securities with a maturity beyond three years. With the Fed’s change in monetary policy, the City’s investment strategy has changed. It should be noted that although the Fed’s has only raised the Federal Funds rate (i.e., short-term interest rates) one time by 1/4 percent at its meeting on March 16, 2022, the bond market (i.e., longer-term rates) has already started to price in some of those projected further Fed’s increases that are reflected in the Reuters poll mentioned above: The 2 year Treasury yield has increased 85 basis points(from 1.85% to 2.60%); the 5 year Treasury yield has increased 73 basis points (from 2.14% to 2.87%); the 10 year Treasury yield has increased 69 basis points (from

2.16% to 2.85%); and the 30 year Treasury yield has increased 46 basis points (from

2.49% to 2.95%).

As a result, staff will start making investment in maturities beyond three years if the rates are attractive. This should result in an increase in interest income during the remainder of FY 2022, and continue into FY 2023.

1098
Investment Report: FY2022 2nd Qtr INFORMATION CALENDAR Ended December 31, 2021 JUNE 28, 2022

Also, the City’s earned rate is expected to be above the City’s benchmark (State LAIF) and the City’s return is expected to be comparable to rates earned by most other cities in California. A sample of rates earned by Northern and Southern California cities is reflected in table 3 below (previously only Northern California cities were included):

Table 3
For the Quarter Ending December 31, 2021
City Rates Earned
Palo Alto 1.62%
Burbank 1.24%
Los Angeles 1.23%
Berkeley 1.10%
San Diego .95%
Sacramento .90%
San Jose .86%
Torrance .81%
San Francisco .48%
Oakland .23%

BACKGROUND
 Pooled Investments
Short-term cash is invested primarily in government sponsored enterprises (referred to as Federal Agency) notes and medium-term corporate notes for periods of one to five years. Additional cash is invested in a money market fund or overnight securities to meet the liquidity needs of the City.

In some cases, the City may have investments with a current market value that is greater or less than the recorded cost. These changes in market value are due to fluctuations in the market and have no effect on yield, as the City does not intend to sell securities prior to maturity.
 Retiree Health Trust Fund Investments
The City agreed to provide retiree Health insurance coverage for fire, police and miscellaneous employees under certain terms and conditions. An actuarial study commissioned by the City many years ago determined that, in addition to City Contributions, an average rate of return of 7% on miscellaneous employees trust fund assets invested must be achieved to fund the retiree health benefit at the desired 70% level. Primarily as a result of the Federal Reserve Board’s decision to keep short-term rates near zero for the last 14 years, the average rate currently earned is significantly

1099
Investment Report: FY2022 2nd Qtr INFORMATION CALENDAR Ended December 31, 2021 JUNE 28, 2022

below that 7% level. City Finance Department staff manages these investment portfolios.

ENVIRONMENTAL SUSTAINABILITY AND CLIMATE IMPACTS
There are no identifiable environmental effects or opportunities associated with the subject of this report.

CONTACT PERSON
Henry Oyekanmi, Director, Finance Department, 981-7326

ATTACHMENTS

1. Portfolio Evaluation FY 2022 Second Quarter

2. Investment Report Analysis FY 2022 Second Quarter
a. Exhibit 2-A: Pooled Cash and Investments
b. Exhibit 2-B.1 through 2-B.3: Interest Earnings Oct 1, 2021 – Dec 31, 2021 c. Exhibit 2-C: Book Value By Investment Type
d. Exhibit 2-D: Current Holdings vs. Policy Limits
e. Exhibit 2-E: Investment Portfolio Trend

3. Summary of Pooled and Cash Investments FY 2022 Second Quarter –Trust Funds a. Exhibit 3-A: Retiree Medical Trust Funds –Misc.
b. Exhibit 3-B: Retiree Medical Trust Funds –Fire
c. Exhibit 3-C: Retiree Medical Trust Funds –Police

1100
Attachment 1Internal
Total Portfolio
Pooled Cash and Investments (COB) 599,176,851$ 526,986,435$ 607,813,880$ 485,079,936$ Pooled Cash and Investments (Trust) 52,859,894 52,247,171 52,703,230 51,878,656 Total Cash and Investments 652,036,745$ 579,233,606$ 660,517,110$ 536,958,592$ Average Life of Investment Portfolio
Pooled Investments (CoB) 1,300 1,304 1,317 1,158
Trust Investments 2.378 years 1.961 years 2.584 years 2.745 years Weighted Yield
Pooled Investments (CoB) 1.096% 0.992% 0.804% 0.868%
Trust Investments 4.055% 3.806% 4.145% 4.319%
Prime Rate 3.250% 3.250% 3.250% 3.250%
91-day Treasury Bill Rate 0.030% 0.033% 0.041% 0.015%
2-year Treasury Note Rate 0.732% 0.276% 0.249% 0.160%
Cash and Investments Maturity
Within one year 250,773,736$ 38.46% 164,472,378$ 28.39% 304,569,674$ 46.11% 384,540,339$ 71.61% Between 1 to 3 years 48,320,863 7.41% 43,663,650 7.54% 54,151,565 8.20% 54,215,103 10.10% Between 3 to 5 years 321,618,796 49.33% 333,855,324 57.64% 205,214,052 31.07% 76,708,237 14.29% Between 5 to 10 years 31,323,351 4.80% 37,242,254 6.43% 96,581,820 14.62% 21,494,913 4.00% Over 10 years - 0.00% - 0.00% - 0.00% - 0.00% Total 652,036,745$ 100.00% 579,233,606$ 100.00% 660,517,111$ 100.00% 536,958,592$ 100.00% Portfolio Evaluation
Quarter Ended December 31, 2021
March 2021June 2021September 2021December 2021
Quarter Ending

1101
Attachment 2Internal
Pension and OPEB
Investments Pooled Investments Trust Investments Total
Portfolio 581,753,436 $ 25,223,881 $ 606,977,317 $ Unrecognized gain/(loss) 2,321,402 1,752,296 4,073,698 Total Investments 584,074,838 26,976,177 611,051,015 Cash Pooled Cash
Pension and OPEB
Trust Cash Total
Cash with Fiscal Agents 400,474 - 400,474 Cash Deposits in Banks 40,585,256 - 40,585,256 Pooled Cash Adjustment (25,883,717) 25,883,717 - Total Cash 15,102,013 25,883,717 40,985,730 Adjusted Grand Total (All Cash and Investments) 599,176,851$ 52,859,894 $ 652,036,745 $ Pooled Cash Portfolio Breakdown As of December 31, 2021 Book Value Market Value Investments 446,614,220$ 448,935,622 $
Fidelity Money Market (TRANS) - - Fidelity Money Market 135,139,216 135,139,216 581,753,436$ 584,074,838 $
Note: Pooled cash for General Fund includes Rent Board cash of $4,710,633.60 Investment Report Analysis
As of December 31, 2021

1102
Internal
CUSIP Investment # Issuer Book Va lue Par Value Market Value Current
Rate
YTM/C
365
Maturity
Date
Days To
Maturity
Moody's
Rating
Certificates of Deposits
254673RD0 14539 Discover Bank 250,000.00 250,000.00 260,522.50 3.300 3.300 07/05/23 550 N/A 795450T47 14540 Sallie Mae Bank 250,000.00 250,000.00 260,490.00 3.300 3.300 07/03/23 548 N/A Subtotal and Average 500,000.00 500,000.00 521,012.50 3.300 549 Medium Term Notes
008252AM0 14582 Affiliated Managers Group 1,080,207.08 1,000,000.00 1,061,900.00 4.250 2.300 02/15/24 775 A3 037833AK6 14536 Apple Inc 4,815,198.97 5,000,000.00 5,119,250.00 2.400 3.225 05/03/23 487 AA1 04685A2L4 14590 Athene Global Funding 5,999,914.78 5,950,000.00 6,103,867.00 2.500 2.320 01/14/25 1,109 N/A 04685A2L4 14602 Athene Global Funding 4,836,044.80 5,000,000.00 5,129,300.00 2.500 3.250 01/14/25 1,109 N/A 084670BJ6 14542 Berkshire Hathaway 4,968,100.00 5,000,000.00 5,127,300.00 3.000 3.150 02/11/23 406 AA2 15654VAK4 14641 T-1 Century Housing Corp 4,000,000.00 4,000,000.00 3,994,240.00 0.300 0.300 07/15/22 195 N/A 20030NBN0 14563 Comcast Corp 5,078,842.16 5,000,000.00 5,344,050.00 3.375 3.100 08/15/25 1,322 A3 233851CU6 14571 Daimler Finance 5,086,756.75 5,000,000.00 5,391,300.00 3.450 3.190 01/06/27 1,831 A3 233851CU6 14574 Daimler Finance 3,837,211.91 3,725,000.00 4,016,518.50 3.450 3.000 01/06/27 1,831 A3 24422EUM9 14554 John Deere Cap 5,076,253.24 5,000,000.00 5,246,650.00 3.650 3.300 10/12/23 649 A3 375558BF9 14570 Gilead Sciences 5,161,236.07 5,000,000.00 5,386,800.00 3.650 3.118 03/01/26 1,520 A2 49327M2X1 14560 Key Bank NA 5,028,437.49 5,000,000.00 5,011,100.00 3.300 3.100 02/01/22 31 A3 53944VAS8 14580 Lloyds Bank Plc 5,006,967.42 5,000,000.00 5,048,900.00 2.250 2.200 08/14/22 225 A3 540424AQ1 14555 Loews Corporation 4,854,961.97 5,000,000.00 5,103,000.00 2.625 3.350 05/15/23 499 A1 589331AT4 14545 Merck & Co Inc 4,879,646.90 5,000,000.00 5,043,850.00 2.400 3.030 09/15/22 257 A3 68389XAS4 14548 Oracle Corp 5,047,221.01 5,000,000.00 5,181,050.00 3.625 3.388 07/15/23 560 A1 747525AT0 14564 Qualcomm Inc 4,964,755.39 5,000,000.00 5,210,600.00 2.900 3.050 05/20/24 870 BAA2 747525AU7 14587 Qualcomm Inc 6,293,057.93 5,963,000.00 6,434,315.52 3.250 2.435 05/20/27 1,965 A2 828807CS4 14606 Simon Property Group 4,994,815.07 5,000,000.00 5,259,300.00 3.375 3.353 10/01/24 1,004 A2 07330MAA5 14588 Truist Bank 5,446,263.03 5,000,000.00 5,448,900.00 3.800 2.365 10/30/26 1,763 A3 Subtotal and Average 96,455,891.97 95,638,000.00 99,662,191.02 2.860 941 Commercial Paper Disc - Amortizing
2254EBAU5 14614 9,981,319.44 10,000,000.00 9,999,500.00 0.250 0.258 01/28/22 27 N/A 53948BB73 14626 9,985,000.00 10,000,000.00 9,999,100.00 0.200 0.206 02/07/22 37 N/A 05970UBA5 14621
9,983,900.00 10,000,000.00 9,999,100.00 0.210 0.217 02/10/22 40 N/A 83368YFY8 14625
Credit Suisse Ny pew York
York Llyods Bank Corp
Banco Santander Societe
Generale 9,985,088.89 10,000,000.00 9,999,900.00 0.220 0.227 01/10/22 9N / A Subtotal and Average 39,935,308.33 40,000,000.00 39,997,600.00 0.227 28 Medium-Term Notes - Callable
05531FBF9 14561 BB&T Corporation 5,160,736.25 5,000,000.00 5,255,350.00 3.750 3.012 12/06/23 704 A3 05531FBG7 14585 BB&T Corporation 5,129,999.37 5,000,000.00 5,049,100.00 3.050 2.000 06/20/22 170 A3 693475AV7 14557 PNC Financial Services 5,029,216.00 5,000,000.00 5,235,450.00 3.500 3.425 01/23/24 752 A3 City of Berkeley
Pooled Cash and Investments
As of December 31, 2021

1103
Internal
CUSIP Investment # Issuer Book Va lue Par Value Market Value Current
Rate
YTM/C
365
Maturity
Date
Days To
Maturity
Moody's
Rating
City of Berkeley
Pooled Cash and Investments
As of December 31, 2021
751212AC5 14566 Ralph Lauren 5,182,338.26 5,000,000.00 5,386,700.00 3.750 3.106 09/15/25 1,353 A3 91159HHU7 14562 US Bancorp 5,280,080.11 5,000,000.00 5,475,750.00 3.950 2.848 11/17/25 1,416 A2 Subtotal and Average 25,782,369.99 25,000,000.00 26,402,350.00 2.879 883 Federal Agency Continuously Callable
31422XJW3 14638 Farmer Mac 10,000,000.00 10,000,000.00 9,974,600.00 0.300 0.300 07/20/26 1,661 N/A 3130AMAV4 14611 Federal Home Loan Banks 5,600,000.00 5,600,000.00 5,564,216.00 0.500 0.500 04/29/27 1,944 AAA 3130ALZA5 14612 Federal Home Loan Banks 9,000,000.00 9,000,000.00 8,952,300.00 0.500 0.500 04/29/26 1,579 AAA 3130AMEX6 14613 Federal Home Loan Banks 15,000,000.00 15,000,000.00 14,891,550.00 0.500 0.500 05/27/26 1,607 AAA 3130AMF72 14615 Federal Home Loan Banks 15,000,000.00 15,000,000.00 14,870,250.00 0.650 0.650 05/27/26 1,607 AAA 3130AMFQ0 14616 Federal Home Loan Banks 15,000,000.00 15,000,000.00 14,919,450.00 0.500 0.500 05/26/26 1,606 AAA 3130AMFT4 14617 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,903,200.00 0.625 0.625 05/27/26 1,607 AAA 3130AMG22 14618 Federal Home Loan Banks 20,000,000.00 20,000,000.00 19,802,000.00 0.600 0.500 05/27/26 1,607 AAA 3130AMGG1 14619 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,902,500.00 0.600 0.600 05/26/26 1,606 AAA 3130AMFN7 14620 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,908,200.00 0.500 0.500 05/26/26 1,606 AAA 3130AMG55 14622 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,917,000.00 0.750 0.750 05/27/27 1,972 AAA 3130AMG22 14624 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,901,000.00 0.600 0.500 05/27/26 1,607 AAA 3130AMLS9 14627 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,920,600.00 0.625 0.613 06/17/26 1,628 AAA 3130AMN24 14628 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,970,800.00 0.375 0.375 06/03/26 1,614 AAA 3130AMN57 14629 Federal Home Loan Banks 20,000,000.00 20,000,000.00 20,019,400.00 1.100 1.013 06/03/26 1,614 AAA 3130AMP71 14630 Federal Home Loan Banks 20,000,000.00 20,000,000.00 19,944,400.00 0.400 1.077 06/18/26 1,629 AAA 3130AMPL0 14631 Federal Home Loan Banks 15,000,000.00 15,000,000.00 14,949,750.00 0.375 0.375 06/08/26 1,619 AAA 3130AMMW9 14632 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,945,800.00 0.625 0.500 06/10/26 1,621 AAA 3130AMWM0 14634 Federal Home Loan Banks 4,250,000.00 4,250,000.00 4,214,002.50 0.500 0.500 06/30/26 1,641 AAA 3130AN5U0 14642 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,927,400.00 0.500 0.500 07/29/26 1,670 AAA 3130ANJY7 14643 Federal Home Loan Banks 40,000,000.00 40,000,000.00 39,589,200.00 0.400 0.400 08/26/26 1,698 AAA Subtotal and Average 278,850,000.00 278,850,000.00 276,987,618.50 0.567 1,647

1104
Internal
CUSIP Investment # Issuer Book Va lue Par Value Market Value Current
Rate
YTM/C
365
Maturity
Date
Days To
Maturity
Moody's
Rating
City of Berkeley
Pooled Cash and Investments
As of December 31, 2021
Municipal Bonds
13063DGB8 14559 General Obligation Unlimited 5,090,650.00 5,000,000.00 5,364,850.00 3.375 3.087 04/01/25 1,186 AA2 Subtotal and Average 5,090,650.00 5,000,000.00 5,364,850.00 3.087 1,186 Money Market
SYS14190 14190 Fidelity Money Market - - - 0.002 0.002 1 N/A SYS14265 14265 Fidelity Money Market 135,139,215.54 135,139,215.54 135,139,215.54 0.003 0.003 1 N/A Subtotal and Average 135,139,215.54 135,139,215.54 135,139,215.54 0.003 1 Total Investments and Average 581,753,435.83 580,127,215.54 584,074,837.56 1.200 Total Investments (Book Value) 581,753,435.83
Cash 15,102,013.00
Total Investments (Book Value) and Cash 596,855,448.83
Increase / (Decrease) in Market Value of Securities 2,321,401.73 Total Investments (Market Value) and Cash 599,176,850.56

1105
Pooled Investments Selected Funds
Interest Earnings
Sorted by Fund - Fund
October 1, 2021 - October 31, 2021
Yield on Beginning Book Value
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted InterestAnnualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
4,250,000.0014634 4,250,000.00 0.500MC5 06/30/2026 1,770.83 0.00 1,770.830.491010 4,250,000.003130AMWM0 15,000,000.0014631 15,000,000.00 0.375MC5 06/08/2026 4,687.50 0.00 4,687.500.368010 15,000,000.003130AMPL0 10,000,000.0014632 10,000,000.00 0.500MC5 06/10/2026 4,166.67 0.00 4,166.670.491010 10,000,000.003130AMMW9 20,000,000.0014629 20,000,000.00 0.250MC5 06/03/2026 4,166.67 0.00 4,166.670.245010 20,000,000.003130AMN57 20,000,000.0014630 20,000,000.00 0.400MC5 06/18/2026 6,666.67 0.00 6,666.670.392010 20,000,000.003130AMP71 10,000,000.0014642 10,000,000.00 0.500MC5 07/29/2026 4,166.67 0.00 4,166.670.491010 10,000,000.003130AN5U0 40,000,000.0014643 40,000,000.00 0.400MC5 08/26/2026 13,333.33 0.00 13,333.330.392010 40,000,000.003130ANJY7

0.0014633 0.00 1.000MC5 07/13/2026 833.33 0.00 833.330.253010 10,000,000.003130AN2A7 10,000,000.0014628 10,000,000.00 0.375MC5 06/03/2026 3,125.00 0.00 3,125.000.368010 10,000,000.003130AMN24 10,000,000.0014624 10,000,000.00 0.500MC5 05/27/2026 4,166.67 0.00 4,166.670.491010 10,000,000.003130AMG22 10,000,000.0014627 10,000,000.00 0.500MC5 06/17/2026 4,166.67 0.00 4,166.670.491010 10,000,000.003130AMLS9 15,000,000.0014616 15,000,000.00 0.500MC5 05/26/2026 6,250.00 0.00 6,250.000.491010 15,000,000.003130AMFQ0 15,000,000.0014615 15,000,000.00 0.650MC5 05/27/2026 8,125.00 0.00 8,125.000.638010 15,000,000.003130AMF72 15,000,000.0014613 15,000,000.00 0.500MC5 05/27/2026 6,250.00 0.00 6,250.000.491010 15,000,000.003130AMEX6 5,600,000.0014611 5,600,000.00 0.500MC5 04/29/2027 2,333.33 0.00 2,333.330.491010 5,600,000.003130AMAV4 9,000,000.0014612 9,000,000.00 0.500MC5 04/29/2026 3,750.00 0.00 3,750.000.491010 9,000,000.003130ALZA5 10,000,000.0014617 10,000,000.00 0.625MC5 05/27/2026 5,208.33 0.00 5,208.330.613010 10,000,000.003130AMFT4 10,000,000.0014620 10,000,000.00 0.500MC5 05/26/2026 4,166.67 0.00 4,166.670.491010 10,000,000.003130AMFN7 10,000,000.0014622 10,000,000.00 0.750MC5 05/27/2027 6,250.00 0.00 6,250.000.736010 10,000,000.003130AMG55 10,000,000.0014619 10,000,000.00 0.600MC5 05/26/2026 5,000.00 0.00 5,000.000.589010 10,000,000.003130AMGG1 20,000,000.0014618 20,000,000.00 0.500MC5 05/27/2026 8,333.33 0.00 8,333.330.491010 20,000,000.003130AMG22 5,001,881.4714580 5,000,000.00 2.250MTN 08/14/2022 9,375.00 -199.45 9,175.552.160010 5,002,080.9253944VAS8 9,997,688.8914635 T-1 10,000,000.00 0.160ACP 12/23/2021 0.00 1,377.78 1,377.780.162010 9,996,311.1106742XJX6 4,942,927.5514536 5,000,000.00 2.400MTN 05/03/2023 10,000.00 3,159.00 13,159.003.137010 4,939,768.55037833AK6 250,000.0014539 250,000.00 3.300SCD 07/05/2023 700.68 0.00 700.683.300010 250,000.00254673RD0 250,000.0014540 250,000.00 3.300SCD 07/03/2023 700.68 0.00 700.683.300010 250,000.00795450T47 4,991,117.4314542 5,000,000.00 3.000MTN 02/11/2023 12,500.00 579.29 13,079.293.086010 4,990,538.14084670BJ6 10,000,000.0014638 10,000,000.00 0.300MC5 07/20/2026 2,500.00 0.00 2,500.000.294010 10,000,000.0031422XJW3 4,974,326.8514545 5,000,000.00 2.400MTN 09/15/2022 10,000.00 2,452.85 12,452.852.949010 4,971,874.00589331AT4 5,017,593.2614548 5,000,000.00 3.625MTN 07/15/2023 15,104.17 -859.61 14,244.563.342010 5,018,452.8768389XAS4 Exhibit 2-B.1

1106
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund
Exhibit 2-B.1
Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted Interest
October 1, 2021 - October 31, 2021
Interest Earnings
Pooled Investments Selected Funds
Annualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
5,031,222.8514554 5,000,000.00 3.650MTN 10/12/2023 15,208.33 -1,336.21 13,872.123.246010 5,032,559.0624422EUM9 4,948,426.7914555 5,000,000.00 2.625MTN 05/15/2023 10,937.50 2,792.78 13,730.283.269010 4,945,634.01540424AQ1 5,013,053.6114557 5,000,000.00 3.500MC3 01/23/2024 14,583.33 -488.29 14,095.043.310010 5,013,541.90693475AV7 5,050,157.2214559 5,000,000.00 3.375MUN 04/01/2025 14,062.50 -1,223.35 12,839.152.993010 5,051,380.5713063DGB8 5,002,369.7914560 5,000,000.00 3.300MTN 02/01/2022 13,750.00 -789.93 12,960.073.050010 5,003,159.7249327M2X1 5,071,596.3814561 5,000,000.00 3.750MC3 12/06/2023 15,625.00 -2,844.89 12,780.112.965010 5,074,441.2705531FBF9 5,031,369.7114585 5,000,000.00 3.050MC3 06/20/2022 12,708.33 -4,109.57 8,598.762.011010 5,035,479.2805531FBG7 5,171,055.6414562 5,000,000.00 3.950MC3 11/17/2025 16,458.33 -3,524.50 12,933.832.943010 5,174,580.1491159HHU7 5,046,940.5114563 5,000,000.00 3.375MTN 08/15/2025 14,062.50 -1,032.41 13,030.093.039010 5,047,972.9220030NBN0 4,982,348.8814564 5,000,000.00 2.900MTN 05/20/2024 12,083.33 576.20 12,659.532.992010 4,981,772.68747525AT0 6,208,456.0314587 5,963,000.00 3.250MTN 05/20/2027 16,149.79 -3,683.68 12,466.112.363010 6,212,139.71747525AU7 5,110,705.3714566 5,000,000.00 3.750MC3 09/15/2025 15,625.00 -2,382.47 13,242.533.049010 5,113,087.84751212AC5 5,103,169.9214570 5,000,000.00 3.650MTN 03/01/2026 15,208.33 -1,984.04 13,224.293.050010 5,105,153.96375558BF9 3,802,194.8414574 3,725,000.00 3.450MTN 01/06/2027 10,709.38 -1,241.74 9,467.642.931010 3,803,436.58233851CU6 5,059,354.8614571 5,000,000.00 3.450MTN 01/06/2027 14,375.00 -954.77 13,420.233.123010 5,060,309.63233851CU6 5,000,948.1214586 5,000,000.00 3.750MTN 11/05/2021 15,625.00 -7,110.87 8,514.132.002010 5,008,058.99233851DN1 1,042,230.4414582 1,000,000.00 4.250MTN 02/15/2024 3,541.67 -1,537.51 2,004.162.261010 1,043,767.95008252AM0 5,329,297.4514588 5,000,000.00 3.800MTN 10/30/2026 15,833.33 -5,491.34 10,341.992.283010 5,334,788.7907330MAA5 5,982,205.7914590 5,950,000.00 2.500MTN 01/14/2025 12,395.83 -837.96 11,557.872.275010 5,983,043.7504685A2L4 4,889,450.0914602 5,000,000.00 2.500MTN 01/14/2025 10,416.67 2,876.41 13,293.083.203010 4,886,573.6804685A2L4 4,996,575.9914606 5,000,000.00 3.375MTN 10/01/2024 14,062.50 97.83 14,160.333.337010 4,996,478.16828807CS4 9,993,888.8914614 10,000,000.00 0.250ACP 01/28/2022 0.00 2,152.78 2,152.780.254010 9,991,736.112254EBAU5 9,994,108.3314621 10,000,000.00 0.210ACP 02/10/2022 0.00 1,808.33 1,808.330.213010 9,992,300.0005970UBA5 9,995,722.2214625 10,000,000.00 0.220ACP 01/10/2022 0.00 1,894.44 1,894.440.223010 9,993,827.7883368YFY8 9,997,744.4414636 T-1 10,000,000.00 0.140ACP 12/29/2021 0.00 1,205.55 1,205.550.142010 9,996,538.8983369BZV1 9,994,555.5614626 10,000,000.00 0.200ACP 02/07/2022 0.00 1,722.23 1,722.230.203010 9,992,833.3353948BB73

0.0014637 T-1 0.00 0.210ACP 10/29/2021 0.00 1,633.33 1,633.330.213010 9,998,366.6744890MXV9 4,000,000.0014641 T-1 4,000,000.00 0.300MTN 07/15/2022 1,000.00 0.00 1,000.000.294010 4,000,000.0015654VAK4 469,988,000.00Subtotal 471,124,685.17 1.058 434,915.06-17,303.79452,218.85491,141,988.96 Fund: Fidelity MM - Regular
137,726.1414265 137,726.14 0.003RRP 1.17 0.00 1.170.010040 137,724.97SYS14265 137,726.14Subtotal 137,726.14 0.010 1.170.001.17137,724.97 470,125,726.14Total 471,262,411.31 1.058 434,916.23-17,303.79452,220.02491,279,713.93

1107
Pooled Investments Selected Funds
Interest Earnings
Exhibit 2-B.2
Sorted by Fund - Fund
November 1, 2021 - November 30, 2021
Yield on Beginning Book Value
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted InterestAnnualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
4,250,000.0014634 4,250,000.00 0.500MC5 06/30/2026 1,770.83 0.00 1,770.830.507010 4,250,000.003130AMWM0 15,000,000.0014631 15,000,000.00 0.375MC5 06/08/2026 4,687.50 0.00 4,687.500.380010 15,000,000.003130AMPL0 10,000,000.0014632 10,000,000.00 0.500MC5 06/10/2026 4,166.67 0.00 4,166.670.507010 10,000,000.003130AMMW9 20,000,000.0014629 20,000,000.00 0.250MC5 06/03/2026 4,166.67 0.00 4,166.670.253010 20,000,000.003130AMN57 20,000,000.0014630 20,000,000.00 0.400MC5 06/18/2026 6,666.67 0.00 6,666.670.406010 20,000,000.003130AMP71 10,000,000.0014642 10,000,000.00 0.500MC5 07/29/2026 4,166.67 0.00 4,166.670.507010 10,000,000.003130AN5U0 40,000,000.0014643 40,000,000.00 0.400MC5 08/26/2026 13,333.33 0.00 13,333.330.406010 40,000,000.003130ANJY7 10,000,000.0014628 10,000,000.00 0.375MC5 06/03/2026 3,125.00 0.00 3,125.000.380010 10,000,000.003130AMN24 10,000,000.0014624 10,000,000.00 0.600MC5 05/27/2026 4,277.78 0.00 4,277.780.520010 10,000,000.003130AMG22 10,000,000.0014627 10,000,000.00 0.500MC5 06/17/2026 4,166.67 0.00 4,166.670.507010 10,000,000.003130AMLS9 15,000,000.0014616 15,000,000.00 0.500MC5 05/26/2026 6,250.00 0.00 6,250.000.507010 15,000,000.003130AMFQ0 15,000,000.0014615 15,000,000.00 0.650MC5 05/27/2026 8,125.00 0.00 8,125.000.659010 15,000,000.003130AMF72 15,000,000.0014613 15,000,000.00 0.500MC5 05/27/2026 6,250.00 0.00 6,250.000.507010 15,000,000.003130AMEX6 5,600,000.0014611 5,600,000.00 0.500MC5 04/29/2027 2,333.33 0.00 2,333.330.507010 5,600,000.003130AMAV4 9,000,000.0014612 9,000,000.00 0.500MC5 04/29/2026 3,750.00 0.00 3,750.000.507010 9,000,000.003130ALZA5 10,000,000.0014617 10,000,000.00 0.625MC5 05/27/2026 5,208.33 0.00 5,208.330.634010 10,000,000.003130AMFT4 10,000,000.0014620 10,000,000.00 0.500MC5 05/26/2026 4,166.67 0.00 4,166.670.507010 10,000,000.003130AMFN7 10,000,000.0014622 10,000,000.00 0.750MC5 05/27/2027 6,250.00 0.00 6,250.000.760010 10,000,000.003130AMG55 10,000,000.0014619 10,000,000.00 0.600MC5 05/26/2026 5,000.00 0.00 5,000.000.608010 10,000,000.003130AMGG1 20,000,000.0014618 20,000,000.00 0.600MC5 05/27/2026 8,555.56 0.00 8,555.560.520010 20,000,000.003130AMG22 5,001,682.0214580 5,000,000.00 2.250MTN 08/14/2022 9,375.00 -199.45 9,175.552.232010 5,001,881.4753944VAS8 9,999,022.2214635 T-1 10,000,000.00 0.160ACP 12/23/2021 0.00 1,333.33 1,333.330.162010 9,997,688.8906742XJX6 4,946,086.5414536 5,000,000.00 2.400MTN 05/03/2023 10,000.00 3,158.99 13,158.993.239010 4,942,927.55037833AK6 250,000.0014539 250,000.00 3.300SCD 07/05/2023 678.08 0.00 678.083.300010 250,000.00254673RD0 250,000.0014540 250,000.00 3.300SCD 07/03/2023 678.08 0.00 678.083.300010 250,000.00795450T47 4,991,696.7314542 5,000,000.00 3.000MTN 02/11/2023 12,500.00 579.30 13,079.303.188010 4,991,117.43084670BJ6 10,000,000.0014638 10,000,000.00 0.300MC5 07/20/2026 2,500.00 0.00 2,500.000.304010 10,000,000.0031422XJW3 4,976,779.7014545 5,000,000.00 2.400MTN 09/15/2022 10,000.00 2,452.85 12,452.853.046010 4,974,326.85589331AT4 5,016,733.6614548 5,000,000.00 3.625MTN 07/15/2023 15,104.17 -859.60 14,244.573.454010 5,017,593.2668389XAS4 5,029,886.6414554 5,000,000.00 3.650MTN 10/12/2023 15,208.33 -1,336.21 13,872.123.355010 5,031,222.8524422EUM9

1108
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund
Exhibit 2-B.2
Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted Interest
November 1, 2021 - November 30, 2021
Interest Earnings
Pooled Investments Selected Funds
Annualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
4,951,219.5614555 5,000,000.00 2.625MTN 05/15/2023 10,937.50 2,792.77 13,730.273.376010 4,948,426.79540424AQ1 5,012,565.3214557 5,000,000.00 3.500MC3 01/23/2024 14,583.33 -488.29 14,095.043.421010 5,013,053.61693475AV7 5,048,933.8714559 5,000,000.00 3.375MUN 04/01/2025 14,062.50 -1,223.35 12,839.153.093010 5,050,157.2213063DGB8 5,001,579.8614560 5,000,000.00 3.300MTN 02/01/2022 13,750.00 -789.93 12,960.073.152010 5,002,369.7949327M2X1 5,068,751.4914561 5,000,000.00 3.750MC3 12/06/2023 15,625.00 -2,844.89 12,780.113.066010 5,071,596.3805531FBF9 5,027,260.1414585 5,000,000.00 3.050MC3 06/20/2022 12,708.33 -4,109.57 8,598.762.079010 5,031,369.7105531FBG7 5,167,531.1414562 5,000,000.00 3.950MC3 11/17/2025 16,458.33 -3,524.50 12,933.833.043010 5,171,055.6491159HHU7 5,045,908.0914563 5,000,000.00 3.375MTN 08/15/2025 14,062.50 -1,032.42 13,030.083.141010 5,046,940.5120030NBN0 4,982,925.0914564 5,000,000.00 2.900MTN 05/20/2024 12,083.33 576.21 12,659.543.091010 4,982,348.88747525AT0 6,204,772.3514587 5,963,000.00 3.250MTN 05/20/2027 16,149.79 -3,683.68 12,466.112.443010 6,208,456.03747525AU7 5,108,322.9014566 5,000,000.00 3.750MC3 09/15/2025 15,625.00 -2,382.47 13,242.533.153010 5,110,705.37751212AC5 5,101,185.8814570 5,000,000.00 3.650MTN 03/01/2026 15,208.33 -1,984.04 13,224.293.153010 5,103,169.92375558BF9 3,800,953.1014574 3,725,000.00 3.450MTN 01/06/2027 10,709.38 -1,241.74 9,467.643.030010 3,802,194.84233851CU6 5,058,400.0914571 5,000,000.00 3.450MTN 01/06/2027 14,375.00 -954.77 13,420.233.227010 5,059,354.86233851CU6

0.0014586 0.00 3.750MTN 11/05/2021 2,083.33 -948.12 1,135.212.071010 5,000,948.12233851DN1 1,040,692.9214582 1,000,000.00 4.250MTN 02/15/2024 3,541.67 -1,537.52 2,004.152.340010 1,042,230.44008252AM0 5,323,806.1114588 5,000,000.00 3.800MTN 10/30/2026 15,833.33 -5,491.34 10,341.992.361010 5,329,297.4507330MAA5 5,981,367.8214590 5,950,000.00 2.500MTN 01/14/2025 12,395.83 -837.97 11,557.862.351010 5,982,205.7904685A2L4 4,892,326.5014602 5,000,000.00 2.500MTN 01/14/2025 10,416.67 2,876.41 13,293.083.308010 4,889,450.0904685A2L4 4,996,673.8214606 5,000,000.00 3.375MTN 10/01/2024 14,062.50 97.83 14,160.333.448010 4,996,575.99828807CS4 9,995,972.2214614 10,000,000.00 0.250ACP 01/28/2022 0.00 2,083.33 2,083.330.254010 9,993,888.892254EBAU5 9,995,858.3314621 10,000,000.00 0.210ACP 02/10/2022 0.00 1,750.00 1,750.000.213010 9,994,108.3305970UBA5 9,997,555.5614625 10,000,000.00 0.220ACP 01/10/2022 0.00 1,833.34 1,833.340.223010 9,995,722.2283368YFY8 9,998,911.1114636 T-1 10,000,000.00 0.140ACP 12/29/2021 0.00 1,166.67 1,166.670.142010 9,997,744.4483369BZV1 9,996,222.2214626 10,000,000.00 0.200ACP 02/07/2022 0.00 1,666.66 1,666.660.203010 9,994,555.5653948BB73 4,000,000.0014641 T-1 4,000,000.00 0.300MTN 07/15/2022 1,000.00 0.00 1,000.000.304010 4,000,000.0015654VAK4 464,988,000.00Subtotal 466,111,583.00 1.108 425,029.82-13,102.17438,131.99471,124,685.17 Fund: Fidelity MM - Regular
45,138,010.8614265 45,138,010.86 0.003RRP 284.72 0.00 284.722.515040 137,726.14SYS14265 45,138,010.86Subtotal 45,138,010.86 2.515 284.720.00284.72137,726.14 510,126,010.86Total 511,249,593.86 1.108 425,314.54-13,102.17438,416.71471,262,411.31

1109
Pooled Investments Selected Funds
Interest Earnings
Exhibit 2-B.3
Sorted by Fund - Fund
December 1, 2021 - December 31, 2021
Yield on Beginning Book Value
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted InterestAnnualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
4,250,000.0014634 4,250,000.00 0.500MC5 06/30/2026 1,770.83 0.00 1,770.830.491010 4,250,000.003130AMWM0 15,000,000.0014631 15,000,000.00 0.375MC5 06/08/2026 4,687.50 0.00 4,687.500.368010 15,000,000.003130AMPL0 10,000,000.0014632 10,000,000.00 0.625MC5 06/10/2026 4,895.83 0.00 4,895.830.576010 10,000,000.003130AMMW9 20,000,000.0014629 20,000,000.00 1.100MC5 06/03/2026 17,388.89 0.00 17,388.891.024010 20,000,000.003130AMN57 20,000,000.0014630 20,000,000.00 0.400MC5 06/18/2026 6,666.67 0.00 6,666.670.392010 20,000,000.003130AMP71 10,000,000.0014642 10,000,000.00 0.500MC5 07/29/2026 4,166.67 0.00 4,166.670.491010 10,000,000.003130AN5U0 40,000,000.0014643 40,000,000.00 0.400MC5 08/26/2026 13,333.33 0.00 13,333.330.392010 40,000,000.003130ANJY7 10,000,000.0014628 10,000,000.00 0.375MC5 06/03/2026 3,125.00 0.00 3,125.000.368010 10,000,000.003130AMN24 10,000,000.0014624 10,000,000.00 0.600MC5 05/27/2026 5,000.00 0.00 5,000.000.589010 10,000,000.003130AMG22 10,000,000.0014627 10,000,000.00 0.625MC5 06/17/2026 4,652.78 0.00 4,652.780.548010 10,000,000.003130AMLS9 15,000,000.0014616 15,000,000.00 0.500MC5 05/26/2026 6,250.00 0.00 6,250.000.491010 15,000,000.003130AMFQ0 15,000,000.0014615 15,000,000.00 0.650MC5 05/27/2026 8,125.00 0.00 8,125.000.638010 15,000,000.003130AMF72 15,000,000.0014613 15,000,000.00 0.500MC5 05/27/2026 6,250.00 0.00 6,250.000.491010 15,000,000.003130AMEX6 5,600,000.0014611 5,600,000.00 0.500MC5 04/29/2027 2,333.33 0.00 2,333.330.491010 5,600,000.003130AMAV4 9,000,000.0014612 9,000,000.00 0.500MC5 04/29/2026 3,750.00 0.00 3,750.000.491010 9,000,000.003130ALZA5 10,000,000.0014617 10,000,000.00 0.625MC5 05/27/2026 5,208.33 0.00 5,208.330.613010 10,000,000.003130AMFT4 10,000,000.0014620 10,000,000.00 0.500MC5 05/26/2026 4,166.67 0.00 4,166.670.491010 10,000,000.003130AMFN7 10,000,000.0014622 10,000,000.00 0.750MC5 05/27/2027 6,250.00 0.00 6,250.000.736010 10,000,000.003130AMG55 10,000,000.0014619 10,000,000.00 0.600MC5 05/26/2026 5,000.00 0.00 5,000.000.589010 10,000,000.003130AMGG1 20,000,000.0014618 20,000,000.00 0.600MC5 05/27/2026 10,000.00 0.00 10,000.000.589010 20,000,000.003130AMG22 5,001,482.5714580 5,000,000.00 2.250MTN 08/14/2022 9,375.00 -199.45 9,175.552.160010 5,001,682.0253944VAS8

0.0014635 T-1 0.00 0.160ACP 12/23/2021 0.00 977.78 977.780.162010 9,999,022.2206742XJX6 4,949,245.5314536 5,000,000.00 2.400MTN 05/03/2023 10,000.00 3,158.99 13,158.993.133010 4,946,086.54037833AK6 250,000.0014539 250,000.00 3.300SCD 07/05/2023 700.68 0.00 700.683.300010 250,000.00254673RD0 250,000.0014540 250,000.00 3.300SCD 07/03/2023 700.68 0.00 700.683.300010 250,000.00795450T47 4,992,276.0314542 5,000,000.00 3.000MTN 02/11/2023 12,500.00 579.30 13,079.303.085010 4,991,696.73084670BJ6 10,000,000.0014638 10,000,000.00 0.300MC5 07/20/2026 2,500.00 0.00 2,500.000.294010 10,000,000.0031422XJW3 4,979,232.5514545 5,000,000.00 2.400MTN 09/15/2022 10,000.00 2,452.85 12,452.852.946010 4,976,779.70589331AT4 5,015,874.0514548 5,000,000.00 3.625MTN 07/15/2023 15,104.17 -859.61 14,244.563.343010 5,016,733.6668389XAS4 5,028,550.4214554 5,000,000.00 3.650MTN 10/12/2023 15,208.33 -1,336.22 13,872.113.247010 5,029,886.6424422EUM9

1110
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund
Exhibit 2-B.3
Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted Interest
December 1, 2021 - December 31, 2021
Interest Earnings
Pooled Investments Selected Funds
Annualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
4,954,012.3314555 5,000,000.00 2.625MTN 05/15/2023 10,937.50 2,792.77 13,730.273.265010 4,951,219.56540424AQ1 5,012,077.0314557 5,000,000.00 3.500MC3 01/23/2024 14,583.33 -488.29 14,095.043.311010 5,012,565.32693475AV7 5,047,710.5314559 5,000,000.00 3.375MUN 04/01/2025 14,062.50 -1,223.34 12,839.162.994010 5,048,933.8713063DGB8 5,000,789.9314560 5,000,000.00 3.300MTN 02/01/2022 13,750.00 -789.93 12,960.073.051010 5,001,579.8649327M2X1 5,065,906.6014561 5,000,000.00 3.750MC3 12/06/2023 15,625.00 -2,844.89 12,780.112.969010 5,068,751.4905531FBF9 5,023,150.5714585 5,000,000.00 3.050MC3 06/20/2022 12,708.33 -4,109.57 8,598.762.014010 5,027,260.1405531FBG7 5,164,006.6414562 5,000,000.00 3.950MC3 11/17/2025 16,458.33 -3,524.50 12,933.832.947010 5,167,531.1491159HHU7 5,044,875.6814563 5,000,000.00 3.375MTN 08/15/2025 14,062.50 -1,032.41 13,030.093.040010 5,045,908.0920030NBN0 4,983,501.3014564 5,000,000.00 2.900MTN 05/20/2024 12,083.33 576.21 12,659.542.991010 4,982,925.09747525AT0 6,201,088.6614587 5,963,000.00 3.250MTN 05/20/2027 16,149.79 -3,683.69 12,466.102.366010 6,204,772.35747525AU7 5,105,940.4414566 5,000,000.00 3.750MC3 09/15/2025 15,625.00 -2,382.46 13,242.543.052010 5,108,322.90751212AC5 5,099,201.8514570 5,000,000.00 3.650MTN 03/01/2026 15,208.33 -1,984.03 13,224.303.052010 5,101,185.88375558BF9 3,799,711.3614574 3,725,000.00 3.450MTN 01/06/2027 10,709.38 -1,241.74 9,467.642.933010 3,800,953.10233851CU6 5,057,445.3214571 5,000,000.00 3.450MTN 01/06/2027 14,375.00 -954.77 13,420.233.124010 5,058,400.09233851CU6 1,039,155.4114582 1,000,000.00 4.250MTN 02/15/2024 3,541.67 -1,537.51 2,004.162.267010 1,040,692.92008252AM0 5,318,314.7714588 5,000,000.00 3.800MTN 10/30/2026 15,833.33 -5,491.34 10,341.992.287010 5,323,806.1107330MAA5 5,980,529.8614590 5,950,000.00 2.500MTN 01/14/2025 12,395.83 -837.96 11,557.872.275010 5,981,367.8204685A2L4 4,895,202.9014602 5,000,000.00 2.500MTN 01/14/2025 10,416.67 2,876.40 13,293.073.199010 4,892,326.5004685A2L4 4,996,771.6514606 5,000,000.00 3.375MTN 10/01/2024 14,062.50 97.83 14,160.333.337010 4,996,673.82828807CS4 9,998,125.0014614 10,000,000.00 0.250ACP 01/28/2022 0.00 2,152.78 2,152.780.254010 9,995,972.222254EBAU5 9,997,666.6714621 10,000,000.00 0.210ACP 02/10/2022 0.00 1,808.34 1,808.340.213010 9,995,858.3305970UBA5 9,999,450.0014625 10,000,000.00 0.220ACP 01/10/2022 0.00 1,894.44 1,894.440.223010 9,997,555.5683368YFY8

0.0014636 T-1 0.00 0.140ACP 12/29/2021 0.00 1,088.89 1,088.890.142010 9,998,911.1183369BZV1 9,997,944.4414626 10,000,000.00 0.200ACP 02/07/2022 0.00 1,722.22 1,722.220.203010 9,996,222.2253948BB73 4,000,000.0014641 T-1 4,000,000.00 0.300MTN 07/15/2022 1,000.00 0.00 1,000.000.294010 4,000,000.0015654VAK4 444,988,000.00Subtotal 446,099,240.09 1.122 440,355.10-12,342.91452,698.01466,111,583.00 Fund: Fidelity MM - Regular
135,139,215.5414265 135,139,215.54 0.003RRP 1,204.68 0.00 1,204.680.031040 45,138,010.86SYS14265 135,139,215.54Subtotal 135,139,215.54 0.031 1,204.680.001,204.6845,138,010.86 580,127,215.54Total 581,238,455.63 1.025 441,559.78-12,342.91453,902.69511,249,593.86

1111
Exhibit 2-CInternal
Certificates of Deposit - S & L
$521,013 0.09%
Medium Term Notes
$126,064,541 21.04%
Commercial Paper
$39,997,600 6.68%
Federal Agency
$276,987,619 46.23%
Municipal Bonds
$5,364,850 0.90%
Money Market $135,139,216
23%
Bank Account
$15,102,013 2.52%
Pooled Cash and Investments
(Market Value)
as of December 31, 2021

1112
Exhibit 2-DInternal
$15,102,013
$135,139,216
$521,013
$126,064,541
$39,997,600
$276,987,619
$5,364,850
$599,176,851
$599,176,851
$179,753,055
$179,753,055
$149,794,213
$599,176,851
$599,176,851

BANK ACCOUNTS

MONEY MARKET

CERTIFICATES OF DEPOSITS

MEDIUM TERM NOTES

COMMERCIAL PAPER

FEDERAL AGENCY BONDS

MUNICIPAL BONDS
City of Berkeley
Current Holdings vs. Policy Limits
as of December 31, 2021
Policy Limits
Current Holdings

1113
Exhibit 2-EInternal
2022 579,233,606 652,036,745 615,635,176
$-
$100,000,000
$200,000,000
$300,000,000
$400,000,000
$500,000,000
$600,000,000
$700,000,000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Investment Values
Fiscal Year
Pooled and Trust
Cash and Investment Portfolio Trend
as of December 31, 2021

1114
Attachment 3Internal
Pooled Cash
Investments Gain/Loss on & Investments
Pooled Cash (Book Value) Investments (Market Value)
Retiree Medical Trust Fund
Fund No.
721 BHA 404,495 $ 202,731$ 12,315$ 619,541$ 722 M1=IBEW (4,165) 97,512 7,633 100,980 723 M2=Local 1 5,650,061 4,477,047 329,704 10,456,812 724 MUI=Z1 969,400 919,424 77,509 1,966,333 725 MUI=Z2 to Z6 1,389,484 1,273,227 101,204 2,763,915 726 M535= Local 535 5,351,295 4,126,979 334,263 9,812,537 727 M3=Local 790 3,574,891 2,776,844 197,394 6,549,129 Total Retiree Medical Trust Fund 17,335,461 13,873,764 1,060,022 32,269,247 Fire Medical Trust Fund
736 Fire Medical Trust Fund 5,435,322 6,856,336 442,101.69 12,733,760 Total Fire Medical Trust Fund 5,435,322 6,856,336 442,102 12,733,760 Police Medical Trust Fund
731 Police EE Retiree HLT Assistance Plan 709,563 1,641,528 81,743 2,432,834 701 Safety Members Pension Fund 43,475 - - 43,475 706 Police Medical Trust Fund 2,359,896 2,852,253 168,429 5,380,578 Total Police Medical Trust Fund 3,112,934 4,493,781 250,172 7,856,887 Total Trust Funds 25,883,717$ 25,223,881$ 1,752,296$ 52,859,894$ Summary of Pooled Cash and Investments - Trust Funds
(Market Value)
As of December 31, 2021

1115
Exhibit 3-AInternal
CUSIP Investment # Issuer Par Value
Beginning Book
Value
Ending Book
Value Market Value Maturity Date
Moody's
Rating
Current
Rate
Annualized
Yield Interest Earned
Amortization/
Accretion
Adjusted Interest
Earnings
Federal Agency Coupon Securities
3133EFQT7 14361 Fed Farm Credit Bank 2,600,000.00 2,607,549.17 2,607,094.40 2,751,008.00 11/25/2025 AAA 2.700 2.601 17,550.00 (454.77) 17,095.23 Municipal Bonds
672319CC2 14283 OAKGEN 2,748,970.14 - - 12/15/2021 AA2 3.800 3.997 21,480.56 1,029.86 22,510.42 786091AG3 14316 SACGEN 5,000,000.00 5,207,135.83 5,193,626.97 5,862,400.00 08/01/2025 A3 7.250 5.917 90,625.00 (13,508.86) 77,116.14 Savo Island Loan
SYS10988 10988 EMPMED 193,000.00 193,000.00 193,000.00 193,000.00 09/01/2025 N/A 8.000 8.000 3,891.73 - 3,891.73 Preferred Securities
00206R706 14591 AT&T Inc. 1,680,033.60 1,680,033.60 1,680,033.60 1,750,701.68 N/A N/A 4.596 3.969 16,806.24 - 16,806.24 00206R706 14596 AT&T Inc. 1,680,008.40 1,680,008.40 1,680,008.40 1,750,675.42 N/A N/A 4.640 3.997 16,926.40 - 16,926.40 00206R706 14597 AT&T Inc. 2,520,000.00 2,520,000.00 2,520,000.00 2,626,000.00 N/A N/A 4.643 3.999 25,401.88 - 25,401.88 Total 13,673,042.00 $ 16,636,697.14 $ 13,873,763.37 $ 14,933,785.10 $ 4.421 192,681.81$ (12,933.77) $ 179,748.04 $ Total Investments (Book Value) 13,873,763.37$
Gain/Loss on Investments 1,060,021.73
Total Investments (Market Value) 14,933,785.10
Temporarily Invested with Pooled Cash & Investments 17,335,461.00 Total Pooled Cash and Investments 32,269,246.10$
Adjusted Interest Earnings
Retiree Medical Trust Fund
Fund 721 - 727
Investments
As of December 31, 2021
Interest Earnings
October 1 to December 31, 2021
October 1 to December 31, 2021
Interest Earnings

1116
Exhibit 3-BInternal
CUSIP Investment # Issuer Par Value
Beginning Book
Value
Ending Book
Value Market Value Maturity Date
Moody's
Rating
Current
Rate
Annualized
Yield Interest Earned
Amortization/
Accretion
Adjusted Interest
Earnings
Medium Term Notes
6174467X1 14318 Morgan Stanley DW DTC#0015 2,000,000.00 2,032,015.36 2,030,085.43 2,238,880.00 11/24/2025 BAA1 5.000 4.504 25,000.00 (1,929.93) 23,070.07 Federal Agency Coupon Securities
3133EFQT7 14362 Fed Farm Credit Bank 2,300,000.00 2,306,678.11 2,306,275.82 2,433,584.00 11/25/2025 AAA 2.700 2.601 15,525.00 (402.29) 15,122.71 Preferred Securities
00206R706 14592 AT&T Inc. 1,679,983.20 1,679,983.20 1,679,983.20 1,750,649.16 N/A N/A 4.596 3.969 16,805.73 - 16,805.73 00206R706 14594 AT&T Inc. 839,991.60 839,991.60 839,991.60 875,324.58 N/A N/A 4.640 3.997 8,463.07 - 8,463.07 Total 6,819,974.80$ 6,858,668.27$ 6,856,336.05$ 7,298,437.74$ 3.671 65,793.80$ (2,332.22)$ 63,461.58$ Total Investments (Book Value) 6,856,336.05$
Gain/Loss on Investments 442,101.69
Total Investments (Market Value) 7,298,437.74
Temporarily Invested with Pooled Cash & Investments 5,435,322.00 Total Pooled Cash and Investments 12,733,759.74$
Fire Retiree Medical
Fund 736
Adjusted Interest Earnings
October 1 to December 31, 2021As of December 31, 2021
Investments Interest Earnings
Interest Earnings
October 1 to December 31, 2021

1117
Exhibit 3-CInternal
CUSIP Investment # Issuer Par Value
Beginning Book
Value
Ending Book
Value Market Value Maturity Date
Moody's
Rating
Current
Rate
Annualized
Yield Interest Earned
Amortization/
Accretion
Adjusted Interest
Earnings
Medium Term Notes
6174467X1 14319 Morgan Stanley DW DTC#0015 500,000.00 508,003.84 507,521.36 559,720.00 11/24/25 BAA1 5.000 4.504 6,250.00 (482.48) 5,767.52 Federal Agency Coupon Securities
3133EFQT7 14363 Fed. Farm Credit Banks 2,300,000.00 2,306,678.11 2,306,275.82 2,433,584.00 11/25/25 AAA 2.700 2.601 15,525.00 (402.29) 15,122.71 Preferred Securities
00206R706 14593 AT&T Inc. 1,679,983.20 1,679,983.20 1,679,983.20 1,750,649.16 N/A N/A 4.596 3.969 16,805.73 - 16,805.73 Total 4,479,983.20$ 4,494,665.15$ 4,493,780.38$ 4,743,953.16$ 3.327 38,580.73$ (884.77)$ 37,695.96$ Total Investments (Book Value) 4,493,780.38$
Gain/Loss on Investments 250,172.78
Total Investments (Market Value) 4,743,953.16
Temporarily Invested with Pooled Cash & Investments 3,112,934.00 Total Pooled Cash and Investments 7,856,887.16$
Police Retiree Medical
Fund 731 and 706
Adjusted Interest Earnings
Investments Interest Earnings
As of December 31, 2021 October 1 to December 31, 2021
Interest Earnings
October 1 to December 31, 2021

1118
Office of the City Manager
2180 Milvia Street, Berkeley, CA 94704 ● Tel: (510) 981-7000 ● TDD: (510) 981-6903 ● Fax: (510) 981-7099 E-Mail: [email protected] Website: http://www.cityofberkeley.info/manager

INFORMATION CALENDAR
JUNE 28, 2022
To: Honorable Mayor and Members of the City Council
From: Dee Williams-Ridley, City Manager
Submitted by: Henry Oyekanmi, Director, Finance Department Subject: FY 2022 Third Quarter Investment Report: Ended March 31, 2022

SUMMARY
The City’s investment policy requires that a quarterly investment report be submitted to the City Council on the status of the investment portfolio. The report includes all investments managed by the City of Berkeley and provides information on the types, values (par, book, and market), term, and yield of each security.  The return on pooled investments for the quarter ended March 31, 2022 was .99%, 70 basis points more than the .29% earned by the State Local Agency Investment Fund (State LAIF), which is the benchmark for investment performance used by the City. The return on pooled investments of .99% for the quarter ended March 31, 2022 was 11 basis points less than the rate of 1.10% earned in the quarter ended December 31, 2021.
 The average return on all Retiree Medical Trust Fund investments was 4.14% for the quarter ended March 31, 2022.

CURRENT SITUATION AND ITS EFFECTS
Attached is a summary of quarterly reports for the fiscal year 2022 Third Quarter ending March 31, 2022 representing the status of the City’s investment portfolio. The report includes all investments managed by the City of Berkeley and provides information on the values (par, book, and market), term, and yield of each security.

Summary information by type of security and detailed information on each security is provided on Exhibit 2-A. An evaluation of portfolio performance for this accounting period compared to the previous three accounting periods is also included in Attachment 1.

1119
Investment Report: FY2022 3rd Qtr INFORMATION CALENDAR Ended March 31, 2022 JUNE 28, 2022

A. Portfolio Results
As a result of the differences in the investment policies of different cities, including responsible investing policies, maturity restrictions, investment restrictions, etc., it was difficult for the City of Berkeley to come up with a reasonable performance measure for pooled cash investments. In order to provide some measure of the relative performance of the City’s investment returns, many years ago the City established the State Local Agency Investment Fund (LAIF) as the performance measure to be reported in the quarterly investment reports, since many local governments invested significant portions of their investment portfolios in LAIF.

LAIF was intended to be a reference point to compare the City’s investment performance against, rather than a true performance measure, since most cities typically earn a yield higher than LAIF in normal interest rate environments, and because LAIF’s average maturity of its investments is generally shorter than most cities. As a result, past City Councilmembers requested that information about the rates earned by other California cities be included in the quarterly investment reports for comparison purposes, despite the differences in the investment policies of the various cities.

1. Liquidity of Portfolio:

The average investment in the pooled portfolio matures in 1,352 days as of March 31, 2022. This is 52 days more than the 1,300 maturity days as of December 31, 2021.

2. Comparison of Results to Performance Measures – Pooled investments:

Quarter Ended March 31, 2022
The City’s yield on investments for the quarter ended March 31, 2022 was .99%, a decrease of 11 basis points (.11%) from the 1.10% earned during the quarter ended December 31, 2021. The average yield on a 90-day Treasury bill at the end of the quarter ended March 31, 2022 was .482%, an increase of 45 basis points (.45%) from the .030% at the end of the previous quarter.

As summarized in Table 1, staff’s overall results were above the performance measure for the quarter. Staff’s performance was above the performance measure in January by approximately 67 basis points (+.67%); over the performance measure in February by approximately 74 basis points (+.74%); and, was over the performance measure in March by approximately 62 basis points (+.62%). The performance measure for the return on investments is compared to the rate of return of the State LAIF.

1120
Investment Report: FY2022 3rd Qtr INFORMATION CALENDAR Ended March 31, 2022 JUNE 28, 2022

Table 1
For Quarter Ending March 31, 2022
Period City State LAIF Difference
Jan-21 .90% .23% 0.67%
Feb-21 1.02% .28% 0.74%
Mar-21 .99% .37% 0.62%
Jan1-Mar 31
.99% .29% 0.70%

3. Investment Results-Retiree Health Insurance Funds:

Average interest rates earned on the retiree health insurance trust funds for the quarter ended March 31, 2022 compared to the quarter ended December 31 2021, were as follows:

Table 2

EARNED INTEREST RATES
For Quarter Ended 3/31/2022 Compared To 12/31/2021
Trust Fund 2nd Qtr
12/31/21
3rd Qtr
3/31/22
Retiree Medical Trust Fund (Misc Employees) 4.421% 4.834% Fire Retiree Medical Trust Fund 3.671% 3.962%
Police Retiree Medical Trust Fund 3.327% 3.614%
The rates earned on these plans are expected to be higher in the future, as staff plans to use the investment authority granted by Council to purchase Bond and Stock Mutual Funds or Index Funds.

Details related to retiree health trust fund investments are in Attachment 3, Exhibits 3- A, 3-B, and 3-C of this report.

B. Discussion of Interest Rate Environment and Outlook
In its May 4, 2022 statement, the Federal Open Market Committee indicated that although economic activity edged down in the first quarter, household spending and business fixed investment remained strong, job gains have been robust in recent months, and the unemployment rate has declined substantially. Inflation remains elevated, reflecting

1121
Investment Report: FY2022 3rd Qtr INFORMATION CALENDAR Ended March 31, 2022 JUNE 28, 2022

supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures.

The invasion of Ukraine by Russia is causing tremendous human and economic hardship.

The implications for the U.S. economy are highly uncertain. The invasion and related events are creating additional upward pressure on inflation and are likely to weigh on economic activity. In addition, COVID-related lockdowns in China are likely to exacerbate supply chain disruptions. The Committee is highly attentive to inflation risks.

Yield Trend
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With appropriate firming in the stance of monetary policy, the Committee expects inflation to return to its 2 percent objective and the labor market to remain strong. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 3/4 to 1 percent and anticipates that ongoing increases in the target range will be appropriate. In addition, the Committee decided to begin reducing its holdings of Treasury securities and agency debt and mortgage-backed securities on June 1st. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals.

The Federal Reserve raised the Federal Funds rate .25% and .50% at its March and May 2022 meetings, respectively; In addition, an April 4-8,2022 Reuters poll of more than 100 economists expects the Fed to raise the Federal Funds rate .50% at its June 2022 meeting, and .25% at the rest of its meetings in calendar 2022. This would bring the Federal Funds rate to 2.00% to 2.25% by the end of 2022.

Change in Strategy
Prior to the Fed’s change in monetary policy starting March 16, 2022, staff’s basic strategy consisted of not purchasing any Agency or Medium-Term corporate note securities with a maturity beyond three years, unless the securities were step-up securities (i.e., securities whose interest rates increased periodically, if they were not called). After the Fed’s change in monetary policy, the City’s investment strategy changed to extending the investment maturities of securities purchased beyond three years for attractive interest rates, regardless of the call features. This should result in an increase in interest income during the remainder of FY 2022, and into FY 2023.

Also, the City’s earned rate is expected to be above the City’s benchmark (State LAIF) and the City’s return is expected to be comparable to rates earned by most other cities in California. A sample of rates earned by Northern and Southern California cities is reflected in table 3 below (previously only Northern California cities were included):

1122
Investment Report: FY2022 3rd Qtr INFORMATION CALENDAR Ended March 31, 2022 JUNE 28, 2022

Table 3
Other California Cities
Earned Interest Rates
For the Quarter Ending March 31, 2022
City Rates Earned
Palo Alto 1.61%
Burbank 1.36%
Los Angeles 1.23%
Berkeley .99%
Sacramento .88%
San Jose .88%
Hayward .88%
Torrance .85%
San Francisco .58%
San Diego .55%
Oakland N/A

BACKGROUND
 Pooled Investments
Short-term cash is invested primarily in government sponsored enterprises (referred to as Federal Agency) notes and medium-term corporate notes for periods of one to five years. Additional cash is invested in a money market fund or overnight securities to meet the liquidity needs of the City.

In some cases, the City may have investments with a current market value that is greater or less than the recorded cost. These changes in market value are due to fluctuations in the market and have no effect on yield, as the City does not intend to sell securities prior to maturity.
 Retiree Health Trust Fund Investments
The City agreed to provide retiree Health insurance coverage for fire, police and miscellaneous employees under certain terms and conditions. An actuarial study commissioned by the City many years ago determined that, in addition to City Contributions, an average rate of return of 7% on miscellaneous employees trust fund assets invested must be achieved to fund the retiree health benefit at the desired 70% level. Primarily as a result of the Federal Reserve Board’s decision to keep short-term rates near zero for the last 14 years, the average rate currently earned is significantly below that 7% level. City Finance Department staff manages these investment portfolios.

1123
Investment Report: FY2022 3rd Qtr INFORMATION CALENDAR Ended March 31, 2022 JUNE 28, 2022

ENVIRONMENTAL SUSTAINABILITY AND CLIMATE IMPACTS
There are no identifiable environmental effects or opportunities associated with the subject of this report.

CONTACT PERSON
Henry Oyekanmi, Director, Finance Department, 981-7326

ATTACHMENTS

1. Portfolio Evaluation FY 2022 Third Quarter

2. Investment Report Analysis FY 2022 Third Quarter
a. Exhibit 2-A: Pooled Cash and Investments
b. Exhibit 2-B.1 through 2-B.3: Interest Earnings January 1, 2022 – March 31, 2022
c. Exhibit 2-C: Book Value By Investment Type
d. Exhibit 2-D: Current Holdings vs. Policy Limits
e. Exhibit 2-E: Investment Portfolio Trend

3. Summary of Pooled and Cash Investments FY 2022 Third Quarter –Trust Funds a. Exhibit 3-A: Retiree Medical Trust Funds –Misc.
b. Exhibit 3-B: Retiree Medical Trust Funds –Fire
c. Exhibit 3-C: Retiree Medical Trust Funds –Police

1124
Attachment 1
Total Portfolio
Pooled Cash and Investments (COB) 581,584,405$ 599,176,851$ 526,986,435$ 607,813,880$ Pooled Cash and Investments (Trust) 50,745,325 52,859,894 52,247,171 52,703,230 Total Cash and Investments 632,329,730$ 652,036,745$ 579,233,606$ 660,517,110$ Average Life of Investment Portfolio
Pooled Investments (CoB) 1,352 1,300 1,304 1,317
Trust Investments 2.008 years 2.378 years 1.961 years 2.584 years Weighted Yield
Pooled Investments (CoB) 0.969% 1.096% 0.992% 0.804%
Trust Investments 4.137% 4.055% 3.369% 4.145%
Prime Rate 3.500% 3.250% 3.250% 3.250%
91-day Treasury Bill Rate 0.482% 0.030% 0.033% 0.041%
2-year Treasury Note Rate 2.335% 0.732% 0.276% 0.249%
Cash and Investments Maturity
Within one year 253,719,774$ 40.12% 250,773,736$ 38.46% 164,472,378$ 28.39% 304,569,674$ 46.11% Between 1 to 3 years 52,619,468 8.32% 48,320,863 7.41% 43,663,650 7.54% 54,151,565 8.20% Between 3 to 5 years 305,166,300 48.26% 321,618,796 49.33% 333,855,324 57.64% 205,214,052 31.07% Between 5 to 10 years 20,824,188 3.29% 31,323,351 4.80% 37,242,254 6.43% 96,581,820 14.62% Over 10 years - 0.00% - 0.00% - 0.00% - 0.00% Total 632,329,730$ 100.00% 652,036,745$ 100.00% 579,233,606$ 100.00% 660,517,111$ 100.00% Portfolio Evaluation
Quarter Ended March 31, 2022
June 2021September 2021December 2021March 2022
Quarter Ending

1125
Attachment 2
Pension and OPEB
Investments Pooled Investments Trust Investments Total
Portfolio 536,801,031 $ 25,745,065 $ 562,546,096 $ Unrecognized gain/(loss) (14,608,283) (1,355,990) (15,964,272) Total Investments 522,192,748 24,389,075 546,581,824 Cash Pooled Cash
Pension and OPEB
Trust Cash Total
Cash with Fiscal Agents 328,638 - 328,638 Cash Deposits in Banks 85,419,269 - 85,419,269 Pooled Cash Adjustment (26,356,250) 26,356,250 - Total Cash 59,391,657 26,356,250 85,747,907 Adjusted Grand Total (All Cash and Investments) 581,584,405$ 50,745,325 $ 632,329,731 $ Pooled Cash Portfolio Breakdown As of March 31, 2022 Book Value Market Value Investments 401,650,474$ 387,042,192 $
Fidelity Money Market (TRANS) 22,331,868 22,331,868 Fidelity Money Market 112,818,689 112,818,689 536,801,031$ 522,192,748 $
Note: Pooled cash for General Fund includes Rent Board cash of $3,633,361.47 Investment Report Analysis
As of March 31, 2022

1126

CUSIP Investment # Issuer Book Va lue Par Value Market Value Current
Rate
YTM/C
365
Maturity
Date
Days To
Maturity
Moody's
Rating
Certificates of Deposits
254673RD0 14539 Discover Bank 250,000.00 250,000.00 255,567.50 3.30 3.300 07/05/23 460 N/A 795450T47 14540 Sallie Mae Bank 250,000.00 250,000.00 255,557.50 3.30 3.300 07/03/23 458 N/A Subtotal and Average 500,000.00 500,000.00 511,125.00 3.300 459 Medium Term Notes
008252AM0 14582 Affiliated Managers Group 1,080,207.08 1,000,000.00 1,024,320.00 4.250 2.300 02/15/2024 685 A3 037833AK6 14536 Apple Inc 4,815,198.97 5,000,000.00 5,027,000.00 2.400 3.225 05/03/2023 397 AAA 04685A2L4 14590 Athene Global Funding 5,999,914.78 5,950,000.00 5,774,772.50 2.500 2.320 01/14/2025 1,019 N/A 04685A2L4 14602 Athene Global Funding 4,836,044.80 5,000,000.00 4,852,750.00 2.500 3.250 01/14/2025 1,019 N/A 084670BJ6 14542 Berkshire Hathaway 4,968,100.00 5,000,000.00 5,053,800.00 3.000 3.150 02/11/2023 316 AA2 15654VAK4 14641 T-1 Century Housing Corp 4,000,000.00 4,000,000.00 3,985,560.00 0.300 0.300 07/15/2022 105 N/A 20030NBN0 14563 Comcast Corp 5,078,842.16 5,000,000.00 5,064,950.00 3.375 3.100 08/15/2025 1,232 A3 233851CU6 14571 Daimler Finance 5,086,756.75 5,000,000.00 4,997,850.00 3.450 3.190 01/06/2027 1,741 A3 233851CU6 14574 Daimler Finance 3,837,211.91 3,725,000.00 3,723,398.25 3.450 3.000 01/06/2027 1,741 A3 24422EUM9 14554 John Deere Cap 5,076,253.24 5,000,000.00 5,100,050.00 3.650 3.300 10/12/2023 559 A2 375558BF9 14570 Gilead Sciences 5,161,236.07 5,000,000.00 5,085,050.00 3.650 3.118 03/01/2026 1,430 A3 53944VAS8 14580 Lloyds Bank Plc 5,006,967.42 5,000,000.00 5,008,350.00 2.250 2.200 08/14/2022 135 A1 540424AQ1 14555 Loews Corporation 4,854,961.97 5,000,000.00 5,005,150.00 2.625 3.350 05/15/2023 409 A3 589331AT4 14545 Merck & Co Inc 4,879,646.90 5,000,000.00 5,010,050.00 2.400 3.030 09/15/2022 167 A1 68389XAS4 14548 Oracle Corp 5,047,221.01 5,000,000.00 5,067,100.00 3.625 3.388 07/15/2023 470 BAA2 747525AT0 14564 Qualcomm Inc 4,964,755.39 5,000,000.00 5,035,000.00 2.900 3.050 05/20/2024 780 A2 747525AU7 14587 Qualcomm Inc 6,293,057.93 5,963,000.00 6,040,280.48 3.250 2.435 05/20/2027 1,875 A2 828807CS4 14606 Simon Property Group 4,994,815.07 5,000,000.00 5,057,800.00 3.375 3.353 10/01/2024 914 A3 07330MAA5 14588 Truist
Bank 5,446,263.03 5,000,000.00 5,119,300.00 3.800 2.365 10/30/2026 1,673 A2 Subtotal and Average 91,427,454.48 90,638,000.00 91,032,531.23 2.847 901 Medium-Term Notes - Callable
05531FBF9 14561 BB&T Corporation 5,160,736.25 5,000,000.00 5,093,900.00 3.750 3.012 12/06/23 614 A3 05531FBG7 14585 BB&T Corporation 5,129,999.37 5,000,000.00 5,011,550.00 3.050 2.000 06/20/22 80 A3 693475AV7 14557 PNC Financial Services 5,029,216.00 5,000,000.00 5,070,500.00 3.500 3.425 01/23/24 662 A3 751212AC5 14566 Ralph Lauren 5,182,338.26 5,000,000.00 5,106,650.00 3.750 3.106 09/15/25 1,263 A3 91159HHU7 14562 US Bancorp 5,280,080.11 5,000,000.00 5,166,300.00 3.950 2.848 11/17/25 1,326 A2 Subtotal and Average 25,782,369.99 25,000,000.00 25,448,900.00 2.879 793 Federal Agency Continuously Callable
31422XJW3 14638 Farmer Mac 10,000,000.00 10,000,000.00 9,615,600.00 0.300 0.300 07/20/2026 1,571 N/A 3130AMAV4 14611 Federal Home Loan Banks 5,600,000.00 5,600,000.00 5,305,608.00 0.500 0.500 04/29/2027 1,854 AAA 3130ALZA5 14612 Federal Home Loan Banks 9,000,000.00 9,000,000.00 8,565,660.00 0.500 0.500 04/29/2026 1,489 AAA City of Berkeley
Pooled Cash and Investments
As of March 31, 2022

1127

CUSIP Investment # Issuer Book Va lue Par Value Market Value Current
Rate
YTM/C
365
Maturity
Date
Days To
Maturity
Moody's
Rating
City of Berkeley
Pooled Cash and Investments
As of March 31, 2022
3130AMEX6 14613 Federal Home Loan Banks 15,000,000.00 15,000,000.00 14,288,250.00 0.500 0.500 05/27/2026 1,517 AAA 3130AMF72 14615 Federal Home Loan Banks 15,000,000.00 15,000,000.00 14,242,200.00 0.650 0.650 05/27/2026 1,517 AAA 3130AMFQ0 14616 Federal Home Loan Banks 15,000,000.00 15,000,000.00 14,278,800.00 0.500 0.500 05/26/2026 1,516 AAA 3130AMFT4 14617 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,480,300.00 0.625 0.625 05/27/2026 1,517 AAA 3130AMG22 14618 Federal Home Loan Banks 20,000,000.00 20,000,000.00 18,945,800.00 0.600 0.500 05/27/2026 1,517 AAA 3130AMGG1 14619 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,489,200.00 0.600 0.600 05/26/2026 1,516 AAA 3130AMFN7 14620 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,503,700.00 0.500 0.500 05/26/2026 1,516 AAA 3130AMG55 14622 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,478,300.00 0.750 0.750 05/27/2027 1,882 AAA 3130AMG22 14624 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,472,900.00 0.600 0.500 05/27/2026 1,517 AAA 3130AMLS9 14627 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,502,900.00 0.625 0.613 06/17/2026 1,538 AAA 3130AMN24 14628 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,527,800.00 1.150 1.034 06/03/2026 1,524 AAA 3130AMN57 14629 Federal Home Loan Banks 20,000,000.00 20,000,000.00 18,999,800.00 1.100 1.013 06/03/2026 1,524 AAA 3130AMP71 14630 Federal Home Loan Banks 20,000,000.00 20,000,000.00 19,087,200.00 1.200 1.077 06/18/2026 1,539 AAA 3130AMPL0 14631 Federal Home Loan Banks 15,000,000.00 15,000,000.00 14,289,600.00 1.150 0.375 06/08/2026 1,529 AAA 3130AMMW9 14632 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,555,900.00 0.625 0.500 06/10/2026 1,531 AAA 3130AMWM0 14634 Federal Home Loan Banks 4,250,000.00 4,250,000.00 4,022,667.50 0.500 0.500 06/30/2026 1,551 AAA 3130AN5U0 14642 Federal Home Loan Banks 10,000,000.00 10,000,000.00 9,525,800.00 0.625 0.500 07/29/2026 1,580 AAA 3130ANJY7 14643 Federal Home Loan Banks 40,000,000.00 40,000,000.00 37,779,600.00 0.400 0.400 08/26/2026 1,608 AAA Subtotal and Average 278,850,000.00 278,850,000.00 264,957,585.50 0.598 1,557

1128

CUSIP Investment # Issuer Book Va lue Par Value Market Value Current
Rate
YTM/C
365
Maturity
Date
Days To
Maturity
Moody's
Rating
City of Berkeley
Pooled Cash and Investments
As of March 31, 2022
Municipal Bonds
13063DGB8 14559 General Obligation Unlimited 5,090,650.00 5,000,000.00 5,092,050.00 3.375 3.087 04/01/2025 1,096 N/A Subtotal and Average 5,090,650.00 5,000,000.00 5,092,050.00 3.087 1,096 Money Market
SYS14190 14190 Fidelity Money Market 22,331,867.61 22,331,867.61 22,331,867.61 0.002 0.002 1 N/A SYS14265 14265 Fidelity Money Market 112,818,688.83 112,818,688.83 112,818,688.83 0.003 0.003 1 N/A Subtotal and Average 135,150,556.44 135,150,556.44 135,150,556.44 0.003 1 Total Investments and Average 536,801,030.91 535,138,556.44 522,192,748.17 1.289 Total Investments (Book Value) 536,801,030.91
Cash 59,391,657.00
Total Investments (Book Value) and Cash 596,192,687.91
Increase / (Decrease) in Market Value of Securities (14,608,282.74) Total Investments (Market Value) and Cash 581,584,405.17

1129
Pooled Investments Selected Funds
Interest Earnings
Exhibit 2-B.1
Sorted by Fund - Fund
January 1, 2022 - January 31, 2022
Yield on Beginning Book Value
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted InterestAnnualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
10,000,000.0014620 10,000,000.00 0.500MC5 05/26/2026 4,166.67 0.00 4,166.670.491010 10,000,000.003130AMFN7 10,000,000.0014622 10,000,000.00 0.750MC5 05/27/2027 6,250.00 0.00 6,250.000.736010 10,000,000.003130AMG55 10,000,000.0014619 10,000,000.00 0.600MC5 05/26/2026 5,000.00 0.00 5,000.000.589010 10,000,000.003130AMGG1 10,000,000.0014624 10,000,000.00 0.600MC5 05/27/2026 5,000.00 0.00 5,000.000.589010 10,000,000.003130AMG22 20,000,000.0014618 20,000,000.00 0.600MC5 05/27/2026 10,000.00 0.00 10,000.000.589010 20,000,000.003130AMG22 10,000,000.0014632 10,000,000.00 0.625MC5 06/10/2026 5,208.33 0.00 5,208.330.613010 10,000,000.003130AMMW9 20,000,000.0014629 20,000,000.00 1.100MC5 06/03/2026 18,333.33 0.00 18,333.331.079010 20,000,000.003130AMN57 20,000,000.0014630 20,000,000.00 0.400MC5 06/18/2026 6,666.67 0.00 6,666.670.392010 20,000,000.003130AMP71 10,000,000.0014617 10,000,000.00 0.625MC5 05/27/2026 5,208.33 0.00 5,208.330.613010 10,000,000.003130AMFT4 10,000,000.0014627 10,000,000.00 0.625MC5 06/17/2026 5,208.33 0.00 5,208.330.613010 10,000,000.003130AMLS9 5,600,000.0014611 5,600,000.00 0.500MC5 04/29/2027 2,333.33 0.00 2,333.330.491010 5,600,000.003130AMAV4 15,000,000.0014613 15,000,000.00 0.500MC5 05/27/2026 6,250.00 0.00 6,250.000.491010 15,000,000.003130AMEX6 9,000,000.0014612 9,000,000.00 0.500MC5 04/29/2026 3,750.00 0.00 3,750.000.491010 9,000,000.003130ALZA5 15,000,000.0014616 15,000,000.00 0.500MC5 05/26/2026 6,250.00 0.00 6,250.000.491010 15,000,000.003130AMFQ0 15,000,000.0014631 15,000,000.00 0.375MC5 06/08/2026 4,687.50 0.00 4,687.500.368010 15,000,000.003130AMPL0 15,000,000.0014615 15,000,000.00 0.650MC5 05/27/2026 8,125.00 0.00 8,125.000.638010 15,000,000.003130AMF72 10,000,000.0014628 10,000,000.00 0.375MC5 06/03/2026 3,125.00 0.00 3,125.000.368010 10,000,000.003130AMN24 4,250,000.0014634 4,250,000.00 0.500MC5 06/30/2026 1,770.83 0.00 1,770.830.491010 4,250,000.003130AMWM0 40,000,000.0014643 40,000,000.00 0.400MC5 08/26/2026 13,333.33 0.00 13,333.330.392010 40,000,000.003130ANJY7 10,000,000.0014642 10,000,000.00 0.625MC5 07/29/2026 4,236.11 0.00 4,236.110.499010 10,000,000.003130AN5U0 5,001,283.1214580 5,000,000.00 2.250MTN 08/14/2022 9,375.00 -199.45 9,175.552.160010 5,001,482.5753944VAS8 4,952,404.5214536 5,000,000.00 2.400MTN 05/03/2023 10,000.00 3,158.99 13,158.993.131010 4,949,245.53037833AK6 250,000.0014539 250,000.00 3.300SCD 07/05/2023 700.68 0.00 700.683.300010 250,000.00254673RD0 250,000.0014540 250,000.00 3.300SCD 07/03/2023 700.68 0.00 700.683.300010 250,000.00795450T47 4,992,855.3314542 5,000,000.00 3.000MTN 02/11/2023 12,500.00 579.30 13,079.303.085010 4,992,276.03084670BJ6 10,000,000.0014638 10,000,000.00 0.300MC5 07/20/2026 2,500.00 0.00 2,500.000.294010 10,000,000.0031422XJW3 4,981,685.4014545 5,000,000.00 2.400MTN 09/15/2022 10,000.00 2,452.85 12,452.852.945010 4,979,232.55589331AT4 5,015,014.4514548 5,000,000.00 3.625MTN 07/15/2023 15,104.17 -859.60 14,244.573.344010 5,015,874.0568389XAS4 5,027,214.2114554 5,000,000.00 3.650MTN 10/12/2023 15,208.33 -1,336.21 13,872.123.248010 5,028,550.4224422EUM9 4,956,805.1114555 5,000,000.00 2.625MTN 05/15/2023 10,937.50 2,792.78 13,730.283.263010 4,954,012.33540424AQ1

1130
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund
Exhibit 2-B.1
Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted Interest
January 1, 2022 - January 31, 2022
Interest Earnings
Pooled Investments Selected Funds
Annualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
5,011,588.7414557 5,000,000.00 3.500MC3 01/23/2024 14,583.33 -488.29 14,095.043.311010 5,012,077.03693475AV7 5,046,487.1814559 5,000,000.00 3.375MUN 04/01/2025 14,062.50 -1,223.35 12,839.152.995010 5,047,710.5313063DGB8 5,000,000.0014560 5,000,000.00 3.300MTN 02/01/2022 13,750.00 -789.93 12,960.073.051010 5,000,789.9349327M2X1 5,019,041.0014585 5,000,000.00 3.050MC3 06/20/2022 12,708.33 -4,109.57 8,598.762.016010 5,023,150.5705531FBG7 5,063,061.7114561 5,000,000.00 3.750MC3 12/06/2023 15,625.00 -2,844.89 12,780.112.970010 5,065,906.6005531FBF9 5,160,482.1414562 5,000,000.00 3.950MC3 11/17/2025 16,458.33 -3,524.50 12,933.832.949010 5,164,006.6491159HHU7 5,043,843.2614563 5,000,000.00 3.375MTN 08/15/2025 14,062.50 -1,032.42 13,030.083.041010 5,044,875.6820030NBN0 6,197,404.9814587 5,963,000.00 3.250MTN 05/20/2027 16,149.79 -3,683.68 12,466.112.367010 6,201,088.66747525AU7 4,984,077.5014564 5,000,000.00 2.900MTN 05/20/2024 12,083.33 576.20 12,659.532.991010 4,983,501.30747525AT0 5,103,557.9714566 5,000,000.00 3.750MC3 09/15/2025 15,625.00 -2,382.47 13,242.533.054010 5,105,940.44751212AC5 5,097,217.8114570 5,000,000.00 3.650MTN 03/01/2026 15,208.33 -1,984.04 13,224.293.054010 5,099,201.85375558BF9 3,798,469.6214574 3,725,000.00 3.450MTN 01/06/2027 10,709.38 -1,241.74 9,467.642.934010 3,799,711.36233851CU6 5,056,490.5514571 5,000,000.00 3.450MTN 01/06/2027 14,375.00 -954.77 13,420.233.124010 5,057,445.32233851CU6 1,037,617.8914582 1,000,000.00 4.250MTN 02/15/2024 3,541.67 -1,537.52 2,004.152.271010 1,039,155.41008252AM0 5,312,823.4314588 5,000,000.00 3.800MTN 10/30/2026 15,833.33 -5,491.34 10,341.992.290010 5,318,314.7707330MAA5 4,898,079.3114602 5,000,000.00 2.500MTN 01/14/2025 10,416.67 2,876.41 13,293.083.197010 4,895,202.9004685A2L4 5,979,691.8914590 5,950,000.00 2.500MTN 01/14/2025 12,395.83 -837.97 11,557.862.275010 5,980,529.8604685A2L4 4,996,869.4814606 5,000,000.00 3.375MTN 10/01/2024 14,062.50 97.83 14,160.333.337010 4,996,771.65828807CS4

0.0014614 0.00 0.250ACP 01/28/2022 0.00 1,875.00 1,875.000.254010 9,998,125.002254EBAU5 9,999,475.0014621 10,000,000.00 0.210ACP 02/10/2022 0.00 1,808.33 1,808.330.213010 9,997,666.6705970UBA5

0.0014625 0.00 0.220ACP 01/10/2022 0.00 550.00 550.000.223010 9,999,450.0083368YFY8 9,999,666.6714626 10,000,000.00 0.200ACP 02/07/2022 0.00 1,722.23 1,722.230.203010 9,997,944.4453948BB73 4,000,000.0014641 T-1 4,000,000.00 0.300MTN 07/15/2022 1,000.00 0.00 1,000.000.294010 4,000,000.0015654VAK4 424,988,000.00Subtotal 426,083,208.27 1.180 438,548.12-16,031.82454,579.94446,099,240.09 Fund: Fidelity MM - Trans
22,330,183.3514190 22,330,183.35 0.002RRP 70.72 0.00 70.72030 0.00SYS14190 22,330,183.35Subtotal 22,330,183.35 70.720.0070.720.00
Fund: Fidelity MM - Regular
112,810,180.0614265 112,810,180.06 0.003RRP 964.52 0.00 964.520.008040 135,139,215.54SYS14265 112,810,180.06Subtotal 112,810,180.06 0.008 964.520.00964.52135,139,215.54 560,128,363.41Total 561,223,571.68 0.904 439,583.36-16,031.82455,615.18581,238,455.63

1131
Pooled Investments Selected Funds
Interest Earnings
Exhibit 2-B.2
Sorted by Fund - Fund
February 1, 2022 - February 28, 2022
Yield on Beginning Book Value
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted InterestAnnualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
10,000,000.0014620 10,000,000.00 0.500MC5 05/26/2026 4,166.67 0.00 4,166.670.543010 10,000,000.003130AMFN7 10,000,000.0014622 10,000,000.00 0.750MC5 05/27/2027 6,250.00 0.00 6,250.000.815010 10,000,000.003130AMG55 10,000,000.0014619 10,000,000.00 0.600MC5 05/26/2026 5,000.00 0.00 5,000.000.652010 10,000,000.003130AMGG1 10,000,000.0014624 10,000,000.00 0.600MC5 05/27/2026 5,000.00 0.00 5,000.000.652010 10,000,000.003130AMG22 20,000,000.0014618 20,000,000.00 0.600MC5 05/27/2026 10,000.00 0.00 10,000.000.652010 20,000,000.003130AMG22 10,000,000.0014632 10,000,000.00 0.625MC5 06/10/2026 5,208.33 0.00 5,208.330.679010 10,000,000.003130AMMW9 20,000,000.0014629 20,000,000.00 1.100MC5 06/03/2026 18,333.33 0.00 18,333.331.195010 20,000,000.003130AMN57 20,000,000.0014630 20,000,000.00 0.400MC5 06/18/2026 6,666.67 0.00 6,666.670.435010 20,000,000.003130AMP71 10,000,000.0014617 10,000,000.00 0.625MC5 05/27/2026 5,208.33 0.00 5,208.330.679010 10,000,000.003130AMFT4 10,000,000.0014627 10,000,000.00 0.625MC5 06/17/2026 5,208.33 0.00 5,208.330.679010 10,000,000.003130AMLS9 5,600,000.0014611 5,600,000.00 0.500MC5 04/29/2027 2,333.33 0.00 2,333.330.543010 5,600,000.003130AMAV4 15,000,000.0014613 15,000,000.00 0.500MC5 05/27/2026 6,250.00 0.00 6,250.000.543010 15,000,000.003130AMEX6 9,000,000.0014612 9,000,000.00 0.500MC5 04/29/2026 3,750.00 0.00 3,750.000.543010 9,000,000.003130ALZA5 15,000,000.0014616 15,000,000.00 0.500MC5 05/26/2026 6,250.00 0.00 6,250.000.543010 15,000,000.003130AMFQ0 15,000,000.0014631 15,000,000.00 0.375MC5 06/08/2026 4,687.50 0.00 4,687.500.407010 15,000,000.003130AMPL0 15,000,000.0014615 15,000,000.00 0.650MC5 05/27/2026 8,125.00 0.00 8,125.000.706010 15,000,000.003130AMF72 10,000,000.0014628 10,000,000.00 0.375MC5 06/03/2026 3,125.00 0.00 3,125.000.407010 10,000,000.003130AMN24 4,250,000.0014634 4,250,000.00 0.500MC5 06/30/2026 1,770.83 0.00 1,770.830.543010 4,250,000.003130AMWM0 40,000,000.0014643 40,000,000.00 0.400MC5 08/26/2026 13,333.33 0.00 13,333.330.435010 40,000,000.003130ANJY7 10,000,000.0014642 10,000,000.00 0.625MC5 07/29/2026 5,208.33 0.00 5,208.330.679010 10,000,000.003130AN5U0 5,001,083.6714580 5,000,000.00 2.250MTN 08/14/2022 9,375.00 -199.45 9,175.552.392010 5,001,283.1253944VAS8 4,955,563.5114536 5,000,000.00 2.400MTN 05/03/2023 10,000.00 3,158.99 13,158.993.464010 4,952,404.52037833AK6 250,000.0014539 250,000.00 3.300SCD 07/05/2023 632.88 0.00 632.883.300010 250,000.00254673RD0 250,000.0014540 250,000.00 3.300SCD 07/03/2023 632.88 0.00 632.883.300010 250,000.00795450T47 4,993,434.6214542 5,000,000.00 3.000MTN 02/11/2023 12,500.00 579.29 13,079.293.415010 4,992,855.33084670BJ6 10,000,000.0014638 10,000,000.00 0.300MC5 07/20/2026 2,500.00 0.00 2,500.000.326010 10,000,000.0031422XJW3 4,984,138.2514545 5,000,000.00 2.400MTN 09/15/2022 10,000.00 2,452.85 12,452.853.259010 4,981,685.40589331AT4 5,014,154.8414548 5,000,000.00 3.625MTN 07/15/2023 15,104.17 -859.61 14,244.563.703010 5,015,014.4568389XAS4 5,025,878.0014554 5,000,000.00 3.650MTN 10/12/2023 15,208.33 -1,336.21 13,872.123.597010 5,027,214.2124422EUM9 4,959,597.8814555 5,000,000.00 2.625MTN 05/15/2023 10,937.50 2,792.77 13,730.273.611010 4,956,805.11540424AQ1

1132
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund
Exhibit 2-B.2
Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted Interest
February 1, 2022 - February 28, 2022
Interest Earnings
Pooled Investments Selected Funds
Annualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
5,011,100.4514557 5,000,000.00 3.500MC3 01/23/2024 14,583.33 -488.29 14,095.043.666010 5,011,588.74693475AV7 5,045,263.8314559 5,000,000.00 3.375MUN 04/01/2025 14,062.50 -1,223.35 12,839.153.317010 5,046,487.1813063DGB8 5,014,931.4314585 5,000,000.00 3.050MC3 06/20/2022 12,708.33 -4,109.57 8,598.762.233010 5,019,041.0005531FBG7 5,060,216.8314561 5,000,000.00 3.750MC3 12/06/2023 15,625.00 -2,844.88 12,780.123.290010 5,063,061.7105531FBF9 5,156,957.6514562 5,000,000.00 3.950MC3 11/17/2025 16,458.33 -3,524.49 12,933.843.267010 5,160,482.1491159HHU7 5,042,810.8514563 5,000,000.00 3.375MTN 08/15/2025 14,062.50 -1,032.41 13,030.093.368010 5,043,843.2620030NBN0 6,193,721.3014587 5,963,000.00 3.250MTN 05/20/2027 16,149.79 -3,683.68 12,466.112.622010 6,197,404.98747525AU7 4,984,653.7114564 5,000,000.00 2.900MTN 05/20/2024 12,083.33 576.21 12,659.543.311010 4,984,077.50747525AT0 5,101,175.5014566 5,000,000.00 3.750MC3 09/15/2025 15,625.00 -2,382.47 13,242.533.382010 5,103,557.97751212AC5 5,095,233.7714570 5,000,000.00 3.650MTN 03/01/2026 15,208.33 -1,984.04 13,224.293.382010 5,097,217.81375558BF9 3,797,227.8814574 3,725,000.00 3.450MTN 01/06/2027 10,709.38 -1,241.74 9,467.643.249010 3,798,469.62233851CU6 5,055,535.7814571 5,000,000.00 3.450MTN 01/06/2027 14,375.00 -954.77 13,420.233.460010 5,056,490.55233851CU6 1,036,080.3714582 1,000,000.00 4.250MTN 02/15/2024 3,541.67 -1,537.52 2,004.152.518010 1,037,617.89008252AM0 5,307,332.0914588 5,000,000.00 3.800MTN 10/30/2026 15,833.33 -5,491.34 10,341.992.538010 5,312,823.4307330MAA5 4,900,955.7214602 5,000,000.00 2.500MTN 01/14/2025 10,416.67 2,876.41 13,293.083.538010 4,898,079.3104685A2L4 5,978,853.9314590 5,950,000.00 2.500MTN 01/14/2025 12,395.83 -837.96 11,557.872.520010 5,979,691.8904685A2L4 4,996,967.3114606 5,000,000.00 3.375MTN 10/01/2024 14,062.50 97.83 14,160.333.694010 4,996,869.48828807CS4

0.0014621 0.00 0.210ACP 02/10/2022 0.00 525.00 525.000.213010 9,999,475.0005970UBA5

0.0014626 0.00 0.200ACP 02/07/2022 0.00 333.33 333.330.203010 9,999,666.6753948BB73 4,000,000.0014641 T-1 4,000,000.00 0.300MTN 07/15/2022 1,000.00 0.00 1,000.000.326010 4,000,000.0015654VAK4 399,988,000.00Subtotal 401,062,869.17 1.351 421,327.46-20,339.10441,666.56421,083,208.27 Fund: Fidelity MM - Trans
22,330,354.6714190 22,330,354.67 0.002RRP 171.32 0.00 171.320.010030 22,330,183.35SYS14190 22,330,354.67Subtotal 22,330,354.67 0.010 171.320.00171.3222,330,183.35 Fund: Fidelity MM - Regular
112,811,045.5414265 112,811,045.54 0.003RRP 865.48 0.00 865.480.010040 112,810,180.06SYS14265 112,811,045.54Subtotal 112,811,045.54 0.010 865.480.00865.48112,810,180.06 535,129,400.21Total 536,204,269.38 1.017 422,364.26-20,339.10442,703.36556,223,571.68

1133
Pooled Investments Selected Funds
Interest Earnings
Exhibit 2-B.3
Sorted by Fund - Fund
March 1, 2022 - March 31, 2022
Yield on Beginning Book Value
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted InterestAnnualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
10,000,000.0014620 10,000,000.00 0.500MC5 05/26/2026 4,166.67 0.00 4,166.670.491010 10,000,000.003130AMFN7 10,000,000.0014622 10,000,000.00 0.750MC5 05/27/2027 6,250.00 0.00 6,250.000.736010 10,000,000.003130AMG55 10,000,000.0014619 10,000,000.00 0.600MC5 05/26/2026 5,000.00 0.00 5,000.000.589010 10,000,000.003130AMGG1 10,000,000.0014624 10,000,000.00 0.600MC5 05/27/2026 5,000.00 0.00 5,000.000.589010 10,000,000.003130AMG22 20,000,000.0014618 20,000,000.00 0.600MC5 05/27/2026 10,000.00 0.00 10,000.000.589010 20,000,000.003130AMG22 10,000,000.0014632 10,000,000.00 0.625MC5 06/10/2026 5,208.33 0.00 5,208.330.613010 10,000,000.003130AMMW9 20,000,000.0014629 20,000,000.00 1.100MC5 06/03/2026 18,333.33 0.00 18,333.331.079010 20,000,000.003130AMN57 20,000,000.0014630 20,000,000.00 1.200MC5 06/18/2026 12,444.44 0.00 12,444.440.733010 20,000,000.003130AMP71 10,000,000.0014617 10,000,000.00 0.625MC5 05/27/2026 5,208.33 0.00 5,208.330.613010 10,000,000.003130AMFT4 10,000,000.0014627 10,000,000.00 0.625MC5 06/17/2026 5,208.33 0.00 5,208.330.613010 10,000,000.003130AMLS9 5,600,000.0014611 5,600,000.00 0.500MC5 04/29/2027 2,333.33 0.00 2,333.330.491010 5,600,000.003130AMAV4 15,000,000.0014613 15,000,000.00 0.500MC5 05/27/2026 6,250.00 0.00 6,250.000.491010 15,000,000.003130AMEX6 9,000,000.0014612 9,000,000.00 0.500MC5 04/29/2026 3,750.00 0.00 3,750.000.491010 9,000,000.003130ALZA5 15,000,000.0014616 15,000,000.00 0.500MC5 05/26/2026 6,250.00 0.00 6,250.000.491010 15,000,000.003130AMFQ0 15,000,000.0014631 15,000,000.00 1.150MC5 06/08/2026 12,114.58 0.00 12,114.580.951010 15,000,000.003130AMPL0 15,000,000.0014615 15,000,000.00 0.650MC5 05/27/2026 8,125.00 0.00 8,125.000.638010 15,000,000.003130AMF72 10,000,000.0014628 10,000,000.00 1.150MC5 06/03/2026 9,152.78 0.00 9,152.781.078010 10,000,000.003130AMN24 4,250,000.0014634 4,250,000.00 0.500MC5 06/30/2026 1,770.83 0.00 1,770.830.491010 4,250,000.003130AMWM0 40,000,000.0014643 40,000,000.00 0.400MC5 08/26/2026 13,333.33 0.00 13,333.330.392010 40,000,000.003130ANJY7 10,000,000.0014642 10,000,000.00 0.625MC5 07/29/2026 5,208.33 0.00 5,208.330.613010 10,000,000.003130AN5U0 5,000,884.2214580 5,000,000.00 2.250MTN 08/14/2022 9,375.00 -199.45 9,175.552.160010 5,001,083.6753944VAS8 4,958,722.5014536 5,000,000.00 2.400MTN 05/03/2023 10,000.00 3,158.99 13,158.993.127010 4,955,563.51037833AK6 250,000.0014539 250,000.00 3.300SCD 07/05/2023 700.68 0.00 700.683.300010 250,000.00254673RD0 250,000.0014540 250,000.00 3.300SCD 07/03/2023 700.68 0.00 700.683.300010 250,000.00795450T47 4,994,013.9214542 5,000,000.00 3.000MTN 02/11/2023 12,500.00 579.30 13,079.303.084010 4,993,434.62084670BJ6 10,000,000.0014638 10,000,000.00 0.300MC5 07/20/2026 2,500.00 0.00 2,500.000.294010 10,000,000.0031422XJW3 4,986,591.0914545 5,000,000.00 2.400MTN 09/15/2022 10,000.00 2,452.84 12,452.842.942010 4,984,138.25589331AT4 5,013,295.2414548 5,000,000.00 3.625MTN 07/15/2023 15,104.17 -859.60 14,244.573.345010 5,014,154.8468389XAS4 5,024,541.7814554 5,000,000.00 3.650MTN 10/12/2023 15,208.33 -1,336.22 13,872.113.250010 5,025,878.0024422EUM9 4,962,390.6514555 5,000,000.00 2.625MTN 05/15/2023 10,937.50 2,792.77 13,730.273.260010 4,959,597.88540424AQ1

1134
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurity
TypeFund
Exhibit 2-B.3
Book Value
Beginning
Book Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted Interest
March 1, 2022 - March 31, 2022
Interest Earnings
Pooled Investments Selected Funds
Annualized
YieldCUSIP Investment #
Interest
Earned
Fund: Pooled Investment - Long Term
5,010,612.1614557 5,000,000.00 3.500MC3 01/23/2024 14,583.33 -488.29 14,095.043.312010 5,011,100.45693475AV7 5,044,040.4914559 5,000,000.00 3.375MUN 04/01/2025 14,062.50 -1,223.34 12,839.162.996010 5,045,263.8313063DGB8 5,010,821.8714585 5,000,000.00 3.050MC3 06/20/2022 12,708.33 -4,109.56 8,598.772.019010 5,014,931.4305531FBG7 5,057,371.9414561 5,000,000.00 3.750MC3 12/06/2023 15,625.00 -2,844.89 12,780.112.974010 5,060,216.8305531FBF9 5,153,433.1514562 5,000,000.00 3.950MC3 11/17/2025 16,458.33 -3,524.50 12,933.832.953010 5,156,957.6591159HHU7 5,041,778.4314563 5,000,000.00 3.375MTN 08/15/2025 14,062.50 -1,032.42 13,030.083.042010 5,042,810.8520030NBN0 6,190,037.6214587 5,963,000.00 3.250MTN 05/20/2027 16,149.79 -3,683.68 12,466.112.370010 6,193,721.30747525AU7 4,985,229.9214564 5,000,000.00 2.900MTN 05/20/2024 12,083.33 576.21 12,659.542.990010 4,984,653.71747525AT0 5,098,793.0314566 5,000,000.00 3.750MC3 09/15/2025 15,625.00 -2,382.47 13,242.533.057010 5,101,175.50751212AC5 5,093,249.7414570 5,000,000.00 3.650MTN 03/01/2026 15,208.33 -1,984.03 13,224.303.056010 5,095,233.77375558BF9 3,795,986.1414574 3,725,000.00 3.450MTN 01/06/2027 10,709.38 -1,241.74 9,467.642.936010 3,797,227.88233851CU6 5,054,581.0114571 5,000,000.00 3.450MTN 01/06/2027 14,375.00 -954.77 13,420.233.126010 5,055,535.78233851CU6 1,034,542.8614582 1,000,000.00 4.250MTN 02/15/2024 3,541.67 -1,537.51 2,004.162.278010 1,036,080.37008252AM0 5,301,840.7514588 5,000,000.00 3.800MTN 10/30/2026 15,833.33 -5,491.34 10,341.992.294010 5,307,332.0907330MAA5 4,903,832.1314602 5,000,000.00 2.500MTN 01/14/2025 10,416.67 2,876.41 13,293.083.194010 4,900,955.7204685A2L4 5,978,015.9614590 5,950,000.00 2.500MTN 01/14/2025 12,395.83 -837.97 11,557.862.276010 5,978,853.9304685A2L4 4,997,065.1314606 5,000,000.00 3.375MTN 10/01/2024 14,062.50 97.82 14,160.323.337010 4,996,967.31828807CS4 4,000,000.0014641 T-1 4,000,000.00 0.300MTN 07/15/2022 1,000.00 0.00 1,000.000.294010 4,000,000.0015654VAK4 399,988,000.00Subtotal 401,041,671.73 1.291 439,837.35-21,197.44461,034.79401,062,869.17 Fund: Fidelity MM - Trans
22,331,867.6114190 22,331,867.61 0.002RRP 1,512.94 0.00 1,512.940.080030 22,330,354.67SYS14190 22,331,867.61Subtotal 22,331,867.61 0.080 1,512.940.001,512.9422,330,354.67 Fund: Fidelity MM - Regular
112,818,688.8314265 112,818,688.83 0.003RRP 7,643.29 0.00 7,643.290.080040 112,811,045.54SYS14265 112,818,688.83Subtotal 112,818,688.83 0.080 7,643.290.007,643.29112,811,045.54 535,138,556.44Total 536,192,228.17 0.986 448,993.58-21,197.44470,191.02536,204,269.38

1135
Exhibit 2-C
Certificates of Deposit - S & L
$511,125 0.09%
Medium Term Notes
$116,481,431 20.03%
Federal Agency
$264,957,586 45.56%
Municipal Bonds
$5,092,050 0.88%
Money Market $135,150,556
23%
Bank Account
$59,391,657 10.21%
Pooled Cash and Investments
(Market Value)
as of March 31, 2022

1136
Exhibit 2-D
$59,391,657
$135,150,556
$511,125
$116,481,431
$264,957,586
$5,092,050
$581,584,405
$581,584,405
$174,475,322
$174,475,322
$581,584,405
$581,584,405

BANK ACCOUNTS

MONEY MARKET

CERTIFICATES OF DEPOSITS

MEDIUM TERM NOTES

FEDERAL AGENCY BONDS

MUNICIPAL BONDS
City of Berkeley
Current Holdings vs. Policy Limits
as of March 31, 2022
Policy Limits
Current Holdings

1137
Exhibit 2-E
2022 579,233,606 652,036,745 632,329,730 621,200,027 $-
$100,000,000
$200,000,000
$300,000,000
$400,000,000
$500,000,000
$600,000,000
$700,000,000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Investment Values
Fiscal Year
Pooled and Trust
Cash and Investment Portfolio Trend
as of March 31, 2022

1138
Attachment 3
Pooled Cash
Investments Gain/Loss on & Investments
Pooled Cash (Book Value) Investments (Market Value)
Retiree Medical Trust Fund
Fund No.
721 BHA 375,868 $ 206,035$ (17,824)$ 564,079$ 722 M1=IBEW (13,602) 100,647 (5,225) 81,820 723 M2=Local 1 5,902,388 4,603,143 (288,318) 10,217,213 724 MUI=Z1 988,844 954,356 (39,191) 1,904,009 725 MUI=Z2 to Z6 1,430,072 1,315,924 (66,366) 2,679,630 726 M535= Local 535 5,491,964 4,271,558 (205,720) 9,557,802 727 M3=Local 790 3,655,622 2,849,539 (195,195) 6,309,966 Total Retiree Medical Trust Fund 17,831,156 14,301,202 (817,839) 31,314,519 Fire Medical Trust Fund
736 Fire Medical Trust Fund 5,593,317 6,925,460 (317,350.70) 12,201,426 Total Fire Medical Trust Fund 5,593,317 6,925,460 (317,351) 12,201,426 Police Medical Trust Fund
731 Police EE Retiree HLT Assistance Plan 688,488 1,645,629 (90,707) 2,243,410 701 Safety Members Pension Fund 66,229 66,229 706 Police Medical Trust Fund 2,177,060 2,872,774 (130,093) 4,919,741 Total Police Medical Trust Fund 2,931,777 4,518,403 (220,800) 7,229,380 Total Trust Funds 26,356,250$ 25,745,065$ (1,355,990)$ 50,745,325$ Summary of Pooled Cash and Investments - Trust Funds
(Market Value)
As of March 31, 2022

1139
Exhibit 3-A
CUSIP Investment # Issuer Par Value
Beginning Book
Value
Ending Book
Value Market Value Maturity Date
Moody's
Rating
Current
Rate
Annualized
Yield Interest Earned
Amortization/
Accretion
Adjusted Interest
Earnings
Federal Agency Coupon Securities
3133EFQT7 14361 Fed Farm Credit Bank 2,600,000.00 2,607,094.40 2,606,639.63 2,613,442.00 11/25/2025 AAA 2.700 2.659 17,550.00 (454.77) 17,095.23 Municipal Bonds
786091AG3 14316 SACGEN 5,000,000.00 5,193,626.97 5,193,626.97 5,571,550.00 08/01/2025 A3 7.250 6.022 90,625.00 (13,508.86) 77,116.14 Savo Island Loan
SYS10988 10988 EMPMED 193,000.00 193,000.00 193,000.00 193,000.00 09/01/2025 N/A 8.000 8.044 3,828.16 - 3,828.16 Preferred Securities
00206R706 14591 AT&T Inc. 1,680,033.60 1,680,033.60 1,680,033.60 1,458,695.84 N/A N/A 4.596 4.624 19,154.67 - 19,154.67 00206R706 14596 AT&T Inc. 1,680,008.40 1,680,008.40 1,680,008.40 1,458,673.96 N/A N/A 4.640 4.652 19,270.78 - 19,270.78 00206R706 14597 AT&T Inc. 2,520,000.00 2,520,000.00 2,520,000.00 2,188,000.00 N/A N/A 4.643 4.654 28,918.04 - 28,918.04 Total 13,673,042.00 $ 13,873,763.37 $ 13,873,308.60 $ 13,483,361.80 $ 4.834 179,346.65$ (13,963.63) $ 165,383.02 $ Total Investments (Book Value) 13,873,308.60$
Gain/Loss on Investments (389,946.80)
Total Investments (Market Value) 13,483,361.80
Temporarily Invested with Pooled Cash & Investments 17,831,156.00 Total Pooled Cash and Investments 31,314,517.80$
Adjusted Interest Earnings
Retiree Medical Trust Fund
Fund 721 - 727
Investments
As of March 31, 2022
Interest Earnings
January 1 to March 31, 2022
January 1 to March 31, 2022
Interest Earnings

1140
Exhibit 3-B
CUSIP Investment # Issuer Par Value
Beginning Book
Value
Ending Book
Value Market Value Maturity Date
Moody's
Rating
Current
Rate
Annualized
Yield Interest Earned
Amortization/
Accretion
Adjusted Interest
Earnings
Medium Term Notes
6174467X1 14318 Morgan Stanley DW DTC#0015 2,000,000.00 2,030,085.43 2,030,085.43 2,108,240.00 11/24/2025 BAA1 5.000 4.609 25,000.00 (1,929.92) 23,070.08 Federal Agency Coupon Securities
3133EFQT7 14362 Fed Farm Credit Bank 2,300,000.00 2,306,275.82 2,306,275.82 2,311,891.00 11/25/2025 AAA 2.700 2.659 15,525.00 (402.30) 15,122.70 Preferred Securities
00206R706 14592 AT&T Inc. 1,679,983.20 1,679,983.20 1,679,983.20 1,458,652.08 N/A N/A 4.596 4.624 19,154.10 - 19,154.10 00206R706 14594 AT&T Inc. 839,991.60 839,991.60 839,991.60 729,326.04 N/A N/A 4.640 4.652 9,635.24 - 9,635.24 Total 6,819,974.80$ 6,856,336.05$ 6,856,336.05$ 6,608,109.12$ 3.962 69,314.34$ (2,332.22)$ 66,982.12$ Total Investments (Book Value) 6,856,336.05$
Gain/Loss on Investments (248,226.93)
Total Investments (Market Value) 6,608,109.12
Temporarily Invested with Pooled Cash & Investments 5,593,317.00 Total Pooled Cash and Investments 12,201,426.12$
Fire Retiree Medical
Fund 736
Adjusted Interest Earnings
January 1 to March 31, 2022As of March 31, 2022
Investments Interest Earnings
Interest Earnings
January 1 to March 31, 2022

1141
Exhibit 3-C
CUSIP Investment # Issuer Par Value
Beginning Book
Value
Ending Book
Value Market Value Maturity Date
Moody's
Rating
Current
Rate
Annualized
Yield Interest Earned
Amortization/
Accretion
Adjusted Interest
Earnings
Medium Term Notes
6174467X1 14319 Morgan Stanley DW DTC#0015 500,000.00 507,521.36 507,038.88 527,060.00 11/24/25 BAA1 5.000 4.609 6,250.00 (482.48) 5,767.52 Federal Agency Coupon Securities
3133EFQT7 14363 Fed. Farm Credit Banks 2,300,000.00 2,306,275.82 2,305,873.52 2,311,891.00 11/25/25 AAA 2.700 2.659 15,525.00 (402.30) 15,122.70 Preferred Securities
00206R706 14593 AT&T Inc. 1,679,983.20 1,679,983.20 1,679,983.20 1,458,652.08 N/A N/A 4.596 4.624 19,154.10 - 19,154.10 Total 4,479,983.20$ 4,493,780.38$ 4,492,895.60$ 4,297,603.08$ 3.614 40,929.10$ (884.78)$ 40,044.32$ Total Investments (Book Value) 4,492,895.60$
Gain/Loss on Investments (195,292.52)
Total Investments (Market Value) 4,297,603.08
Temporarily Invested with Pooled Cash & Investments 2,931,777.00 Total Pooled Cash and Investments 7,229,380.08$
Police Retiree Medical
Fund 731 and 706
Adjusted Interest Earnings
Investments Interest Earnings
As of March 31, 2022 January 1 to March 31, 2022
Interest Earnings
January 1 to March 31, 2022

1142
Human Welfare and Community
Action Commission
2180 Milvia Street, Berkeley, CA 94704 ● Tel: (510) 981-7000 ● TDD: (510) 981-6903 ● Fax: (510) 981-7099 E-Mail: [email protected] Website: http://www.CityofBerkeley.info/Manager

INFORMATION CALENDAR
June 28, 2022
To: Honorable Mayor and Members of the City Council
From: Human Welfare and Community Action Commission (HWCAC) Submitted by: Praveen Sood, Chairperson, Human Welfare and Community Action Commission
Subject: HWCAC 2018-2023 Work Plan

INTRODUCTION
At its April 27, 2022 regular meeting, the HWCAC adopted its 2018-2023 Work Plan (Attachment 1).

CURRENT SITUATION AND ITS EFFECTS
At its April 27, 2022 regular meeting, the HWCAC adopted its 2018-2023 Work Plan (M/S/C: Sood/Omodele. Vote: Ayes –Bookstein, Lippman, Omodele, Sood, Sim; Noes – None; Abstain – Behm-Steinberg; Absent – None).

BACKGROUND
In 2016, Council adopted direction to Commissions to submit a work plan annually.

The City of Berkeley is a Community Action Agency (BCAA) and receives Community Services Block Grant funds (CSBG) to support anti-poverty programs. CSBG funds are part of the federal Department of Health and Human Services budget and are passed through the State of California’s Community Services and Development Department to local CAAs. The HWCAC acts as the Board of the BCAA and is required to have a strategic plan.

ENVIRONMENTAL SUSTAINABILITY AND CLIMATE IMPACTS
There are no environmental sustainability or climate impacts associated with the adoption of this work plan.

POSSIBLE FUTURE ACTION
The HWCAC will review the work plan annually and revise the plan as appropriate.

FISCAL IMPACTS OF POSSIBLE FUTURE ACTION
There are no fiscal impacts in accepting this work plan.

1143
HWCAC 2018-2023 Work Plan INFORMATION CALENDAR
June 28, 2022

CONTACT PERSON
Mary-Claire Katz, Associate Management Analyst, HHCS, 981-5414 Attachments:
1: HWCAC 2018-2023 Strategic Plan

1144
\
Human Welfare and
Community Action Commission
2018-2023 STRATEGIC PLAN
Vision
Eradicate persistent poverty in the city of Berkeley by offering residents the services they require for a decent life while offering a path to economic stability.

Mission
Provide city council with recommendations to support a fully integrated system of community services and policies that provide low income residents of Berkeley, with the following: (A) Responsive, caring, and effective community services that provide basic human needs, including, but not limited to, the core services; (B) Opportunities for employment that provide a living wage and offer future growth; (C) Opportunities to continuously build an asset and skills base that can lead to greater economic stability.

Core Services to be provided by City and/or Agencies

1. Access to nutritious food/Food Security

2. Housing/Housing stability

3. Healthcare (Including Mental health services)

4. Childcare

5. Transportation

6. Services for the Disabled

7. Computer and Internet Access

8. Legal Services

9. Skills Training

10.Job/Opportunity Development

11.Banking Services

12.Money Management

1145
Target Populations

1. General Funds: Low income (up to 60% of AMI.) households that own or rent within the City of Berkeley.

2. CSBG Funds: Households that reside within the City of Berkeley whose household income is 125% or less of the poverty level.

Objectives

1. Increase engagement with community to understand needs

2. Increase the number of low-income commissioners serving on the HWCAC.

3. Create partnerships with other commissions and city agencies to find ways to increase services and leverage resources

4. Support city staff and agencies with the following objectives:
a. Show an improvement in living conditions of target population through the following:

1. Increase in people with access to regular meals

2. Increase in people with access to healthcare

3. Increase in people with stable housing

4. Increase in median household income

5. Increase In long term employment rates

6. Increase in median savings or net worth

7. Increase in education levels attained
b. Reduce the number of households in target population c. Maintain a high client approval rate on agency and city services Strategies

1. Establish baseline metrics and mechanisms for gathering those metrics on a regular basis

2. Use feedback and data to determine Core Service priorities before each funding cycle

3. Collaborate with other commissions on policy and recommendations when possible and appropriate

4. Monitor all council activities that may affect target populations and determine a response

5. Develop agency events or other programs that enhance collaboration and knowledge sharing

1146

6. Keep strategic plan up to date
Action Plan

1. Develop feedback mechanisms from community, agencies, and city staff on services currently provided and needed
a. Develop a questionnaire aimed at gathering information on services needed and provided
b. Carry out “listening booth” meetings at locations that can yield good information and/or carry out a semiannual community meeting to discuss needs
c. Bring in community experts to discuss and educate commissioners on agenda topics as required
d. Carry out regular meetings with agencies and city teams providing services regarding quality services
e. Work with staff to implement a survey form for agency clients to complete and submit

2. Commissioner Engagement
a. Find ways to recruit more low-income members of the community into the commission
b. Strive to keep agenda focused and relevant
c. Keep all commissioners engaged and participating by encouraging them to take on tasks and to bring forward recommendations
d. Establish call-in meeting procedures

3. Metrics
a. Determine number of households that currently are in the target populations
b. Develop additional metrics per objectives

4. Stay informed on Council activities
a. Appoint commissioners on a monthly rotating basis to examine council agenda and come back to group with relevant items
b. Add relevant items to meeting agenda to help ensure that they get discussed
c. Formally determine a no action/action (communication or recommendation) from commission on agenda items

1147

5. Agency Reviews
a. Look at implementing an annual meeting with agencies to discuss their programs and best practices
b. Review existing agency reports and provide staff with ideas on ways that could help provide additional information
c. Review all agency reports annually and work with city staff to carry out site visits at least once every funding cycle
d. Look for alternative sources of funding to help support agencies and staff

6. Carry out an annual planning meeting in October each year to discuss the following items
a. Review of accomplishments for current year
b. Discuss commission priorities for the coming year
c. Review community services to ensure that community needs are being met
d. Review any recommendations for changes to commission bylaws e. Discuss any updates to work/strategic plan

7. Working with other commissions
a. Establish liaisons for other commissions
b. Find ways to bring other commissions into council recommendations when possible and appropriate
c. Share information with other commissions as needed

1148
Landmarks Preservation Commission
2180 Milvia Street, Berkeley, CA 94704 ● Tel: (510) 981-7000 ● TDD: (510) 981-6903 ● Fax: (510) 981-7099 E-Mail: [email protected] Website: http://www.CityofBerkeley.info/Manager

INFORMATION CALENDAR
June 28, 2022
To: Honorable Mayor and Members of the City Council
From: Landmarks Preservation Commission (LPC)
Submitted by: Charles Enchill, LPC Chairperson
Subject: Annual Report on LPC Actions

INTRODUCTION
LPC has prepared a report on its activities during the period June 2021 through May 2022; see Attachment 1, “Annual Report on Landmarks Preservation Commission Actions.” Reports on the Commission’s activities are required on an annual basis, in accordance with Berkeley Municipal Code Chapter 3.24.090 - Annual Report Required.

CURRENT SITUATION AND ITS EFFECTS
On May 5, 2022, the Commission voted to adopt the attached report and to forward it to City Council. Vote: 6-0-1-1 (one vacancy); Yes: Adams, Crandall, Enchill, Leuschner, Schwartz, Twu; No: none; Abstain: Finacom; Absent: Montgomery.

BACKGROUND
Staff prepared a draft report summarizing LPC’s action and then presented it for the Commission’s consideration at its meeting on May 5, 2022. The Commission received the report favorably and voted to adopt it and to forward it to City Council in accordance with the BMC requirement.

The Commission held a total of 12 meetings during this reporting period, all occurred via video conferencing in compliance with City’s measures to socially distance in order to curtail the spread of the COVID-19 virus. Commissioners have adapted to the remote meeting format and many have expressed a desire to continue for the foreseeable future.

Among numerous accomplishments, the Commission:
 Designated four properties as City Landmarks.
 Granted six Structural Alteration Permits for existing properties on the City’s register of historic properties.
 Considered 11 demolition referrals from the Zoning Adjustments Board.  Identified a need for a City-wide Historic Context Statement and prepared a budget request to City Council for the 2022/23 budget cycle.

1149
Annual Report on LPC Actions INFORMATION CALENDAR
June 28, 2022

ENVIRONMENTAL SUSTAINABILITY AND CLIMATE IMPACTS
Historic preservation practices encourage the adaptive re-use and rehabilitation of cultural resources within the City. The rehabilitation of these resources, rather than their removal, achieves construction and demolition waste diversion, and promotes investment in existing urban centers.

POSSIBLE FUTURE ACTION
The LPC will continue to submit an annual report on its activities in accordance with the BMC requirement.

FISCAL IMPACTS OF POSSIBLE FUTURE ACTION
There are no fiscal impacts associated with this reporting activity.

CONTACT PERSON
Fatema Crane, LPC Secretary, 510-981-7413
Attachments:
1: Annual Report of Landmarks Preservation Commission (LPC) Activities

1150

L ANDMARKS

P RESERVATION

C OMMISSION
Report to city council

1947 Center Street, 2nd fl., Berkeley, CA 94704 Tel: 510.981.7410 TDD: 510.981.7474 Fax: 510.981.7420

Annual Report on
Landmarks Preservation Commission (LPC)
Actions

Reporting Period: June 2021 through May 2022
Due Date: June 30, 2022

Presented to City Council
By the LPC Secretary
On behalf of the LPC Chairperson and the Commission
In accordance with Berkeley Municipal Code Section 3.24.090

Table of Contents
Part 1: Introduction
Part 2: Meetings Held
Part 3: Actions Undertaken in Accordance with
Regulatory Compliance
Part 4: Discussions Held
Part 5: Presentations Received

1151

ANNUAL REPORT ON COMMISSION ACTIONS

Part 1: Introduction

In accordance with Berkeley Municipal Code Section 3.24.090, the LPC shall report its actions to City Council on an annual basis. The report must arrive not later than June 30 of each year.

Herein City Council will find summaries of all LPC activities for the current reporting period. The summary lists are arranged in categories reflecting LPC’s compulsory duties, such as public meetings and quasi-judicial reviews, as well as other efforts that further cultural resource preservation in Berkeley.

Part 2: LPC Meetings Held – via video conferencing only

Meeting Body Date
Landmarks Preservation Commission
(LPC)
June 3, 2021
July 1, 2021
August 5, 2021
September 2, 2021
October 7, 2021
November 4, 2021
December 2, 2021
January 6, 2022
February 3, 2022
March 3, 2022
April 7, 2022
May 5, 2022
LPC Ad Hoc Subcommittee:

Acheson Commons Development Project
Structural Alteration Permit
April 6-9, 2021
June 7-14, 2021
September 15-21, 2021
March 11-17, 2002

1152

ANNUAL REPORT ON COMMISSION ACTIONS
June 30, 2022 Page 3 of 4

Part 3: LPC Regulatory Actions

Activity Property Address Application
Number Action Date
Landmark & Structure of
Merit Designations

BMC Section 3.24.150
1325 Arch Street #LMIN2020-0008 August 5, 2021
2212 Fifth Street (denied) #LMIN2021-0001 October 7, 2021 2523 Piedmont Avenue #LMIN2021-0002 February 3, 2022
1940 Hearst Avenue #LMIN2021-0003 March 3, 2022
2113 Kittredge Street #LMIN2022-0001 May 5, 2022
Structural Alteration Permits

BMC Section 3.24.240
1120 Second Street #LMSA2021-0001 August 5, 2021
1960 University Avenue #LMSA2021-0003 October 7, 2021
1325 Arch Street #LMSAP2021-0003 January 6, 2022
2328 Channing Way #LMSAP2021-0002 February 3, 2022
2580 Bancroft Way #LMSAP2022-0003 April 7, 2022
8 Greenwood Common #LMSAP2022-0002 May 5, 2022
Use Permit Demolition
Referrals

BMC 23C.08.050
2942 College Avenue #ZP2021-0072 July 1, 2021
2213 Fourth Street
#ZP2021-0043 July 1, 2021 2221 Fourth Street
2216 Fifth Street
1710 University Avenue #ZP2021-0127 December 2, 2021
130 Berkeley Square #ZP2021-0158 February 3, 2022
134 Berkeley Square
701, 703, 705, & 705A Bancroft
Way #ZP2021-0096 March 3, 2022
747 Bancroft Way
2440 Shattuck Avenue #ZP2021-0201 April 7, 2022
2439 Durant Avenue #ZP2021-0192 May 5, 2022
Design Review Referrals

BMC 23E.12.020.B
2345 Channing Way #DRSL2021-0012 November 4, 2021
Mill Act Contract Applications

City Council Resolution 59,355
None
Section 106 Referrals

National Preservation Act
None

1153

ANNUAL REPORT ON COMMISSION ACTIONS

Part 4: LPC Agenda Discussions Held

Topic Discussion Outcome Date(s)
Draft Plaque Content for City
Landmark Fred Turner Building
at 2580 Bancroft Way
Commented on draft plaque
content.

Approved the
content, and
assigned inspection
of the plaque
installation to the
Subcommittee for
Acheson Commons.

July 1, 2021

National Register of Historic
Places Nomination for City
Landmark Peoples Park at 2526
Haste Street
Reviewed the nomination
materials and considered
providing comments to the
State Historic Resources
Commission (SHRC) as
Certified Local
Government.

Commissioners did
not reach a
consensus on this
topic; no comments
were provided to the
SHRC.

October 7, 2021
City-wide Historic Resources
Survey
Discussed strategies to
initiate a survey effort, to
define a scope, and to
identify potential funding
sources.

Authored a Budget
Referral to City
Council.

November 4, 2021
December 2, 2021
January 6, 2022
February 3, 2022
March 3, 2022

Part 5: LPC Agenda Presentations Received

Topic Presenter Date
Housing Element Update
Land Use Planning staff presented
information on the upcoming Housing
Element Update.

September 2, 2021
City Landmark School for the
Deaf & Blind/Clark Kerr Campus
at 2601 Warring Street
UC Campus Architect presented
information about pending development
and seismic improvement project.

November 4, 2021
Draft EIR for North Berkeley &
Ashby BART Station Re-Zoning
Land Use Planning staff presented
information about the cultural resources
components of the Draft EIR.

November 4, 2021

1154
Zero Waste Commission
2180 Milvia Street, Berkeley, CA 94704 ● Tel: (510) 981-7000 ● TDD: (510) 981-6903 ● Fax: (510) 981-7099 E-Mail: [email protected] Website: http://www.CityofBerkeley.info/Manager

INFORMATION CALENDAR
June 28, 2022
To: Honorable Mayor and Members of the City Council
From: Zero Waste Commission
Submitted by: Christienne de Tournay, Chairperson, Zero Waste Commission Subject: Zero Waste Commission Fiscal Year 2022-23 Work Plan

INTRODUCTION
The Zero Waste Commission (ZWC) is responsible for making recommendations on City solid waste policy and goals, including commercial and residential garbage, and recycling services, budgets, and other decisions relating to solid waste in the City of Berkeley. The ZWC adopted the FY 2022-23 Work Plan on May 23, 2022.

M/S/C: de Tournay/Curtis; Ayes: de Tournay, Sherman; Nelson, Curtis; Abstain: None;

Absent: Doughty; Stein.

CURRENT SITUATION AND ITS EFFECTS
Over the last two years, the City of Berkeley, along with the rest of the world, has made its best efforts to survive during Covid-19, and operations/staff have been running as usual following the initial lock-down period. The City of Berkeley is enacting important changes and improvements to its Zero Waste services and long-term plans, including:
 Continuing the process to design the replacement of the Solid Waste & Recycling Transfer Station (SW&RTS), which is currently going through the CEQA process,  Adapting to changes in the recycling export markets,
 Implementing the Single Use Foodware and Litter Reduction Ordinance,  Implementing new state legislation SB 1383 to reduce landfilled organics, and  Expanding collection services for hard-to-recycle materials.

ZWC is supporting the development of a Zero Waste Division Strategic Plan, and the SW&RTS replacement, as well as evaluate new proposed legislation or programs targeting some of the larger remaining components of avoidable waste.

These projects advance the City’s Strategic Plan goals to:

1. Provide state-of-the-art, well-maintained infrastructure, amenities, and facilities

2. Be a global leader in addressing climate change, advancing environmental justice, and protecting the environment
The following goals have been identified for the upcoming year:

1155
Zero Waste Commission 2022-23 Work Plan INFORMATION CALENDAR June 28, 2022

Goal Resources Program activities Outputs Outcomes
Transfer
Station
Replacement
Feasibility Study
(completed Nov.
2019) First
Carbon Solutions
retained for CEQA
Consultant
presentation to
Commission TBD
None N/A
Zero Waste
Strategic Plan
RFP was issued
for consultant in
Q2 2022
Consultant
presentation at ZWC
TBD
Commission
recommendations to
City Council
Ongoing Commission
Feedback
Food Recovery
and Organics
Diversion
SB1383
City Staff Continue staff
updates
Provide
recommendations as
needed to Council
and other
stakeholders
Help achieve state
SB1383
requirements
Single-Use
Foodware &
Litter Reduction
Ordinance
City Staff, Ecology
Center, UC
Berkeley/Cal Zero
Waste
Follow
implementation of
Single-Use Foodware
Ordinance, review
through lens of
Covid-19
repercussions
Provide
recommendations as
needed to Council
and other
stakeholders
Provide feedback to
Council on
Ordinance
Implementation
Reduce
Landfilling of
Construction
Debris
Deconstruction
Subcommittee,
Bay area
Deconstruction
group, Urban Ore
Work with builders,
material resellers,
CEAC, Community
Health, Landmarks,
Disaster/Fire Safety
and Planning to
increase reuse of old
growth wood debris
Recommendations
for Council
Recommendations
for Council by end of
year 2022
Clarify/Define/
Revisit what is
acceptable for
program
acceptance/
recycling of all
plastics
City Staff,
Community
Conservation
Centers, Ecology
Center,
StopWaste
Listen to experts,
gather information,
receive updates from
City partners
Recommendation to
Council
Economically viable
and environmentally
responsible collection
operation for
recyclable plastics
(Highest and best
use)

BACKGROUND
 Transfer Station Replacement: Community meetings were held in 2019 for design of replacement input. First Carbon Solutions has been retained to conduct the CEQA certification process for the replacement project.  Food Recovery & Organics Diversion SB 1383 requires reduction of organic waste disposal 50% by 2020 and 75% by 2025. Starting in 2022, all CA jurisdictions will need to provide organic waste collection services to all residents and businesses. Berkeley will be required to use products made from this recycled organic material, such as renewable energy, compost, and mulch. Food

1156
Zero Waste Commission 2022-23 Work Plan INFORMATION CALENDAR June 28, 2022

service businesses must donate edible food to food recovery organizations. This will help feed the almost 1 in 4 Californians without enough to eat. California has a 2025 goal to rescue 20% of edible food currently thrown away, and redirect it to those in need.
 Single-Use Foodware & Litter Reduction Ordinance: All of the Foodware Ordinance phases have been enacted. Phase 2, requiring all disposable foodware to be compostable and includes a .25 cent charge for disposable cups, took effect on 1/1/20 (just before the mandated Covid-19 Shelter in Place order).

Phase 3, mandating reusables for dine-in, began on 7/1/2020. Enforcement of all phases has been relaxed due to the pandemic, but is now increasing with addition of new staff positions.
 Plastics - Feasibility of Recyclability: Due to declining infrastructure/operations and unreliable markets for many grades and compositions of plastics, the City’s municipal collection program will require reassessment of which plastics are acceptable in its stream.
 Reduce Landfilling of Construction Debris: Carpet recycling program was established at the Transfer Station in 2019. Due to multi-city operations of the construction industry, Deconstruction Ordinance may be introduced at regional level. Recommendations for Council will likely be proposed by end of year 2022.

ENVIRONMENTAL SUSTAINABILITY AND CLIMATE IMPACTS
Potential to reduce quantity of material sent to landfill and reduce consumption of new materials.

POSSIBLE FUTURE ACTION
Future Action Items that ZWC may send to City Council include:
 Resolution to support a Regional Deconstruction Ordinance  Resolution to support a Citywide Reusable Food Container program  Resolution to support an expanded coordinated effort with UCB during Cal moveout months
 Public information available for transparency in materials being recycled based on markets and destinations.

FISCAL IMPACTS OF POSSIBLE FUTURE ACTION
Reusable Food Container program and City/UCB collection efforts require funding.

CONTACT PERSON
Heidi Obermeit, Recycling Program Manager, Public Works, (510) 981-6357

1157
1158

Communications

All communications submitted to the City Council are
public record. Communications are not published directly to the City’s website. Copies of individual communications are available for viewing at the City Clerk Department and through Records Online.

City Clerk Department
2180 Milvia Street
Berkeley, CA 94704
(510) 981-6900

Records Online
https://records.cityofberkeley.info/

To search for communications associated with a particular City Council meeting using Records Online:

1. Select Search Type = “Public – Communication Query (Keywords)”

2. From Date: Enter the date of the Council meeting

3. To Date: Enter the date of the Council meeting (this may match the From Date field)

4. Click the “Search” button

5. Communication packets matching the entered criteria will be returned

6. Click the desired file in the Results column to view the document as a PDF