Dear City Council Members
Justin Hess, City Manager
Judie Wilke, Assistant City Manager
Jennifer Becker, Financial Services Director
Bob Liu, CFO Burbank Water & Power
This report fulfills City, Youth Endowment Services Fund, Parking Authority, Public Financing Authority, Successor Agency to the Redevelopment Agency and Housing Authority resolutions.
CITY PORTFOLIO OVERVIEW
The City must maintain $96 million in liquidity at all times (maturities within one year plus real estate taxes due from the County in April and December) to meet our projected budgeted expenditures. We currently have $238 million in liquidity, with $132 million in our account at the Local Agency Investment Fund (LAIF), $58 million in investments maturing within a year and $48 million in real estate taxes due in April and December. Higher liquidity levels continue to be maintained i
n anticipation of future cash outflows.
The City Investment Pool ended March at $504 million, up from February’s balance of $5 02 million. Market value decreased to 97.7% in March from 99.4% in February. The weighted average yield of the portfolio at the end of the month is 1.51% and the total rate of return fiscal year-to-date is 1.27%.
MARKET OUTLOOK
The latest inflation numbers are showing that the Consumer Price Index rose 8.5% in March from a year ago, the fastest pace of increase since 1981. We have now seen six straight months of inflation above 6%. While price pressures have been primarily driven by rising energy prices, the increase in the core inflation index, stripping out volatile food and energy costs, has been the lowest in recent months, signaling that inflation may be close to peaking. However, there is still a lot of uncertainty as the Russian invasion of Ukraine continues to upend energy markets. Natural gas prices have doubled in the past year and are now at its highest levels since 2008. While crude oil prices have slightly declined from its recent highs, gas prices are still up 48% from a year ago. Covid lockdowns in China have also disrupted supply chains that have yet to recover from the pandemic.
CITY OF BURBANK – OFFICE OF THE CITY TREASURER
275 East Olive Avenue, P
O Box 7145, Burbank, CA 91510-7145
(818)238 -5880
City of Burbank Investment Portfolio Report for March 2022 Dated April 26, 2022
ATTACHMENT 1
Even with higher prices, demand remains strong and Q1 credit card spending is up 20-30% fro m a year ago, significantly above pre-pandemic levels. In recent earning calls, companies have indicated that consumers seem to be spending “with a vengeance” and as a result, are accepting price increases that have enabled companies to increase profit margins. The strong job market s eems to be a major factor in consumer attitudes as annual wage growth hit 6% in March, the
fastest pace since 1997. Job switchers saw even higher wage growth with almost half of switchers seeing pay increases of at least 11%. The wage-price spiral remains a threat as almost half of new hires expect to leave their jobs within two years to seek even better opportunities. The student loan moratorium has also been extended until August which has enabled borrowers to fuel their spending. The economy is still missi ng about 3.5 million workers as 1 in 10 workers have indicated in a recent survey that they have no plans of going back to work.
Given the persistent inflation, Fed Chair Jerome Powell has now indicated that the central bank will likely raise interest rates by 50 bps next month and potentially again in the subsequent months. The Fed is also expected to formally announce its plan to reduce its $9 trillion asset portfolio. The market is now expecting at least nine 25 bps rate increases by the end of 2022. Given the labor shortage, most economists are saying a recession seems unlikely in the next year as recessions usually involve job losses and unemployment. However, as the Fed plans to raise rates aggressively in the next several months , it will be challenging to engineer the “soft landing” that can temper demand and inflation while still ensuring people are able to keep their jobs. We continue to monitor the situation closely and take advantage of opportunities to lock in rising yields in order to further build out our portfolio ladder.
Krystle Ang Palmer
City Treasurer
CC: Bob Frutos, Council Member/Liaison to Treasurer’s Office Nick Schultz, Council Member/Liaison to Treasurer’s Office Darin Guggenheimer, Treasurer’s Oversight Review Committee Member Norelyn Kurasz, Treasurer’s Oversight Review Committee Member Richard Martin, Treasurer’s Oversight Review Committee Member Scott Rife, Treasurer’s Oversight Review Committee Member David Escobar, Treasurer’s Oversight Review Committee Member Also included with this report is a Finance-prepared report of funds with fiscal agents. The book value and market value of these investments is $253,498,631 at March 31, 2022.
Asset Category | Policy Maximum
Face Amount/Shares
Market Value
Book Value
% of Portfolio MV
YTM @ Cost
Days To Maturity
16,660,000 16,608,023 16,660,000 3.30
2.28 687
133,700,000 132,196,348 133,700,000 26.25
0.32 1
133,983,000 132,500,242 134,171,697 26.31
2.37 877
44,510,000 43,966,017 44,767,255 8.73
2.11 785
18,000,000 16,841,100 17,843,195 3.34
1.08 1,547
154,600,000 147,656,762 154,260,930 29.32
1.50 1,600
CD | Negotiable | 30 %
LAIF CITY - Per Account | 75M
Medium Term Note | 30 %
Municipal Bonds | 30 %
Supranational Obligations | 15 %
US Agency | 90 %
US Treasury | No Limit 14,000,000 13,827,810 13,806,935 2.75
2.26 576
Total / Average
515,453,000 503,596,302 515,210,012
100.00
1.51 868
INVESTMENT POLICY COMPLIANCE
I certify that the City's Investment Portfolio is in full compliance with the City's Investment Policy and California Government Code Section 53601, and I believe the Investment Pool contains sufficient cash flow from liquid and maturing securities, bank deposits, and income to meet the City's expenditure requirement for the next six months.
CITY OF BURBANK
OFFICE OF THE CITY TREASURER
Investment Report | March 2022
Date
Krystle Ang Palmer, City Treasurer
LAIF | Successor Agency
LAIF | Housing Authority
515,000
500,000
Total
509,208 515,000
494,377 500,000
4/26/22
516,468,000 504,599,887 516,225,012
Asset Category Allocation
Asset Category | Policy Maximum
Market Value
2/28/2022
% of Portfolio
2/28/2022
Market Value
3/31/2022
% of Portfolio
3/31/2022
16,060,037
3.20 16,608,023
3.30 173,255,175
34.52 132,196,348
26.25 121,892,945
24.29 132,500,242
26.31 40,750,907
8.12 43,966,017
8.73 17,335,590
3.45 16,841,100
3.34 124,578,074
24.82 147,656,762
29.32 CD | Negotiable | 30 %
LAIF CITY - Per Account | 75M
Medium Term Note | 30 %
Municipal Bonds | 30 %
Supranational Obligations | 15 %
US Agency | 90 %
US Treasury | No Limit 8,037,360
1.60 13,827,810
2.75 Total / Average
501,910,088
100.00
503,596,302
100.00
Portfolio Holdings as of 2/28/2022
Portfolio Holdings as of 3/31/2022
Begin Date: 2/28/2022, End Date: 3/31/2022
Monthly Treasurer's Report
Distribution by Asset Category - Market Value
City of Burbank
Maturity Range Allocation
Maturity Range
Market Value
2/28/2022
% of Portfolio
2/28/2022
Market Value
3/31/2022
% of Portfolio
3/31/2022
0-1 Month
173,745,423
34.62 138,134,929
27.43 1-3 Months
12,718,744
2.53 10,916,401
2.17 3-6 Months
18,771,396
3.74 21,855,793
4.34 6-9 Months
10,835,485
2.16 9,547,069
1.90 9-12 Months
11,861,840
2.36 9,564,591
1.90 1-2 Years
45,090,564
8.98 46,164,112
9.17 2-3 Years
39,139,393
7.80 43,131,773
8.56 3-4 Years
53,279,198
10.62 63,743,999
12.66 4-5 Years
136,468,045
27.19 160,537,635
31.88 Total / Average
501,910,088
100.00
503,596,302
100.00
Portfolio Holdings
Begin Date: 2/28/2022, End Date: 3/31/2022
Monthly Treasurer's Report
Distribution by Maturity Range - Market Value
City of Burbank
32,163 293,018 364,356
35,105 360,123 1,013,141
284,896 2,112,549 2,151,655
99,961 794,850 936,949
14,438 81,702 51,211
169,666 785,781 446,649
14,510 110,642 136,715
650,738
YTM@Cost 1.51% TRR@BV 1.27% TRR@BV 1.49%
4,538,666 5,100,677
Asset Category Allocation
Asset Category | Policy Maximum March 2022 | MTD March 2022 | Fiscal YTD Mar ch 2021 | Fiscal YTD
CD | Negotiable | 30 %
LAIF Per Account | 75M
Medium Term Note | 30 %
Municipal Bonds | 30 %
Supranational Obligations | 15 %
US Agency | 90 %
US Treasury | No Limit
Income Summary
Begin Date: 2/28/2022, End Date: 3/31/2022
City of Burbank
Monthly Treasurer's Report
The chart to the left shows relevant rates (LAIF, the
12-month moving average of the 2-year treasury, and
portfolio current yield) as of March 31 , 2022, as
well as current treasury yields and those from a year
ago.
NOTE: Estimates for the interest earned on LAIF’s loan to CalPERS (not allocated until just after the end of each quarter) are included in this month’s LAIF yield. The effective rate of return published by LAIF was .37%; with a slight over estimate in the accrual for the previous two months, the yield reflected on the book
s for March is .32%. The rate of interest charged
by LAIF on the CalPERS loan is the Constant Maturity 2-Year Treasury as of the last day of the quarter.
KEY
City of Burbank
Credit Ratings | Medium Term Notes
End Date: 3/31/2022Monthly Treasurer's Report
"Watch" implies an imminent but not inevitable action.
+ | Positive Watch - | Negative Watch
"Outlook" implies entity is being monitored.
Neg | Negative Outlook
Issuer Moody's S & P
2,680,000 06/01/2022 Aa3
2,765,000 07/13/2022 A1
3,000,000 08/11/2022 Aa3
AA-
A+
AA-
2,541,000 09/01/2022 A1 A
750,000 09/12/2022 Aaa AA+
3,000,000 09/15/2022 Aa3 AA-
570,000 11/01/2022 Aaa AAA
3,000,000 12/15/2022 Aa2 AA
3,000,000 01/25/2023 A2 A
2,000,000 03/15/2023 A1 A+ (Neg)
1,290,000 03/15/2023 Aa2 AA
1,401,000 05/01/2023 AA-
3,000,000 05/01/2023 Aa3 A+
7,000,000 05/03/2023 Aaa AA+
3,050,000 08/08/2023 Aaa AAA
1,850,000 08/16/2023 A1 A
3,000,000 10/01/2023 Aaa AAA
2,000,000 01/08/2024 A1 A+
1,000,000 02/05/2024 A2 A+
2,000,000 03/07/2024 A2 A
Blackrock Inc
Toyota Motor Credit
Proctor & Gamble Co
PPL Electric
Apple Inc
Visa Inc
Institute for Advanced Study
Intel Corp
Walmart Inc
Charles Schwab Corp
3M Company
Berkshire Hathaway
2,000,000 05/15/2023 A2 A
3,000,000 12/15/2022 A1 A+
3,000,000 01/22/2024 A2 A-
1,270,000 02/15/2024 A2 A
A1
(Neg)
3,000,000 04/01/2024 A2 A
3,000,000 05/15/2024 A1 A
3,000,000 07/08/2024 Aa2 AA
3,000,000 07/30/2024 A+A2(Neg)
3,000,000 08/30/2024 A2 BBB+
2,000,000 08/15/2024 A2 A
1,036,000 09/06/2024 A1 A+
2,000,000 12/01/2024 A+
3,000,000 01/23/2025 A-
A1
A2
(Neg)
Nike Inc
Texas Instruments Inc
Apple Inc
TJX Cos Inc
Microsoft Corp
Bank of NY Mellon Corp
Pres & Fellows of Harvard
Toyota Motor Credit
Bank of America Corp
US Bancorp
Home Depot
John Deere Capital Corp
Suntrust Bank
Bank of NY Mellon Corp
Walmart Inc
US Bancorp
Honeywell International
Walt
Disney Company
Coca-Cola Co
Estee Lauder
Co Inc
JP Morgan
Chase & Co
Adobe Inc
Mastercard Inc
Face Amount/Shares Maturity Date
(Neg)
(Neg)
3,000,000 02/01/2025 A+
4,883,000 03/03/2025 A+
A2
A1
KEY "Watch" implies an imminent but not inevitable action. + | Positive Watch - | Negative Watch
"Outlook" implies entity is being monitored.
Neg | Negative Outlook
Issuer Face Amount/Shares Maturity Date Moody's S & P
1,000,000 03/13/2025 A
2,000,000 03/22/2025 A
John Deere Capital Corp
Unilever Capital Corp
Intel Corp
Qualcomm Inc
State Street Corp
New York Life Global
IBRD Supranational
IBRD Supranational
IADB
Mass Institute of Tech
IBRD Supranational
Mars Inc
Massmutual Global Funding
BMW US Capital
Pricoa Global Funding
Met Tower Global Funding
Intl Finance Corp
Caterpillar Financial Services
Met Life Global
Northwest Mutual Global
Inter-American Development Bank
Nestle Holdings
Target Corp
Berkshire Hathaway
A2
A1
2,000,000
3,000,000
03/25/2025
02/10/2026
A1
Aaa
A+
AAA
3,000,000 04/20/2026 Aaa AAA
3,000,000 02
/18/2026 Aaa A AA
3,000,000 07/16/2026 Aa3 AA+
3,000,000 01/15/2026 Aaa (Neg) AA+
1,995,000 07/16/2026 A1 A
3,000,000 08/12/2026 A2 AA-
1,228,000 09/14/2026 Aa3 AA-
3,000,000 07/15/2026 Aaa AAA
3,000,000 07/01/2026 Aaa AAA
3,000,000 10/08/2026 Aaa AAA
2,000,000 01/11/2027 Aaa AA+
3,000,000 01/15/2027 A2 A
3,000,000 07
/16/2026 Aa3 A
2,000,000 01/11/2027 Aa3 AA-
3,000,000 01/ 13/2027 Aaa AAA
2,000,000 01/14/2027 Aa3 AA-
3,000,000 08/18/2025 A1 A
3,674,000 05/20/2025 A2 A
3,000,000 01/08/2027 A2 A
3,000,000 03/15/2027 Aa2 AA
Issuer Face Amount/Shares Moody's S & P
KEY
Credit Ratings | Municipal Bonds
End Date: 3/31/2022Monthly Treasurer's Report
Maturity Date
City of Burbank
"Watch" implies an imminent but not inevitable action.
+ | Positive Watch - | Negative Watch
"Outlook" implies entity is being monitored.
Neg | Negative Outlook Pos | Positive Outlook
2,200,000 04/01/2022 Aa2 AA-
3,000,000 05/15/2022 Aaa AAA
1,500,000 10/01/2022 Aaa AAA
195,000 11/01/2022 NR AA+
445,000 01/01/2023 A1
3,000,000 Aaa10/01/2023
A1450,000 01/01/2024
Aaa800,000 05/15/2024
Aa2
1,235,000 08/01/2024 NR AA-
1,000,000 10/01/2024 NR AA-
3,000,000 05/01/2022 A1 A
2,000,000 03/01/2023 Aa2
3,000,000 05/15/2023 Aaa
2,135,000 05/15/2024
Aa3
State of California
San Francisco CA
Texas A&M University
State of California
State of Texas
Palo Alto CA
San Francisc
o CA
California State
Connecticut State
Long Beach
Texas A&M University
Texas State
500,000 08/01/2022 Aa2 AA-
A-
AA-
AAA
NR
AAA
AAA
A-
AAA
NR
3,000,000 06/01/2025 AAA AAA
San Francisco CA
Connecticut Housing
Aaa1,605,000 05/15/2023
1,000,000 05/15/2023 Aa2
600,000 06/01/2024
06/01/2025 Aa3 AA-
AA-
1,000,000
Long Beach
State of California
Poway Unif SD
South Gate Utility Authority
Ca State Health Facilities
Florida State Board Pub Edu
CA Infrastructure & Econ Dev
Oakland California Pension
500,000 10/01/2025 NR AAA
1,430,000 12/15/2025 Aa2 AA
1,100,000 05/01/2026 Aa1 AAA
750,000 03/15/2026 NR AA+ New York State Dormitory Authority NYC Transitional Finance Authority
Univ of California Revenues
San Francisco Redev Agency 3,000,000 08/01/2026 NR AA 1,900,000 05/15/2026 Aa2 AA
Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 CD | Negotiable | 30 %
Allegiance Bank TX 2.2 11/3/2022 01748DAY2 0.05 11/3/2017 11/3/2022 217 2.200 245,000.00 245,000.00 FDIC Insured American Eagle Bank IL 3 7/1/2022 02554BCY5 0.05 6/1/2018 7/1/2022 92 3.000 245,000.00 245,000.00 FDIC Insured American Express National Bank 2 3/9/2027 02589ABQ4 0.05 3/9/2022 3/9/2027 1,804 2.000 245,000.00 245,000.00 FDIC Insured Athol Savings Bank 2 7/31/2023 047539AM3 0.05 7/30/2019 7/31/2023 487 2.000 245,000.00 245,000.00 FDIC Insured Axos Bank 1.65 3/26/2024 05465DAK4 0.05 3/26/2020 3/26/2024 726 1.650 245,000.00 245,000.00 FDIC Insured Balboa Thrift & Loan 2.1 7/19/2024 05765LAZ0 0.05 7/19/2019 7/19/2024 841 2.100 245,000.00 245,000.00 FDIC Insured Bank of Baroda NY 3.55 11/30/2023 06062R7R7 0.05 11/30/2018 1 1/30/2023 609 3.550 245,000.00 245,000.00 FDIC Insured
Barclays Bank 1.95 2/23/2027 06740KNY9 0.05 2/23/2022 2/23/2027 1,790 1.950 245,000.00 245,000.00 FDIC Insured Beal Bank 2.05 2/24/2027 07371CH69 0.05 3/2/2022 2/24/2027 1,791 2.050 245,000.00 245,000.00 FDIC Insured Beal Bank 2.05 2/24/2027 07371AYT4 0.05 3/2/2022 2/24/2027 1,791 2.050 245,000.00 245,000.00 FDIC Insured Capital On Bank USA NA 2.25 7/31/2024 14042TBK2 0.05 7/31/2019 7/31/2024 853 2.250 245,000.00 245,000.00 FDIC Insured Citibank National Association SD 2.9 4/11/2023 17312QJ26 0.05 4/11/2018 4/1 1/2023 376 2.900 245,000.00 245,000.00 FDIC Insured
Citizens First Bank WI 3.1 7/18/2023 17462VAG1 0.05 1/18/2019 7/18/2023 474 3.100 245,000.00 245,000.00 FDIC Insured City National Bank IL 2.15 6/13/2022 17801GBT5 0.05 12/11/2017 6/13/2022 74 2.150 245,000.00 245,000.00 FDIC Insured Commercial Bank MI 2.05 4/21/2022 201282HM5 0.05 4/21/2017 4/21/2022 21 2.050 245,000.00 245,000.00 FDIC Insured Commercial Bank TN 3.1 6/21/2022 20143PDQ0 0.05 6/21/2018 6/21/2022 82 3.100 245,000.00 245,000.00 FDIC Insured Cross River Bank 1.85 11/7/2022 227563BJ1 0.05 11/6/2019 1 1/7/2022 221 1.850 245,000.00 245,000.00 FDIC Insured
Crossfirst Bank KS 2.2 11/18/2022 22766ACB9 0.05 11/20/2017 1 1/18/2022 232 2.200 245,000.00 245,000.00 FDIC Insured
Delta National Bank and Trust NY 2 2/25/2027 24773RCR4 0.05 3/9/2022 2/25/2027 1,792 2.000 245,000.00 245,000.00 246,884.05 FDIC Insured
246,572.90 FDIC Insured
237,689.20 FDIC Insured
246,369.55 FDIC Insured
242,790.10 FDIC Insured
244,162.10 FDIC Insured
251,793.85 FDIC Insured
237,216.35 FDIC Insured
238,316.40 FDIC Insured
238,316.40 FDIC Insured
244,904.45 FDIC Insured
248,937.15 FDIC Insured
249,895.10 FDIC Insured
245,845.25 FDIC Insured
245,227.85 FDIC Insured
246,460.20 FDIC Insured
246,394.05 FDIC Insured
247,001.65 FDIC Insured
237,750.45 FDIC Insured FDIC Insured
Direct Federal Credit Union MA 3.5 9/11/2023 25460FCF1 0.05 12/10/2018 9/11/2023 529 3.500 245,000.00 245,000.00 251,404.30 NCUA Insured NCUA Insured Discover Bank 2.35 9/7/2022 254673BZ8 0.05 9/7/2017 9/7/2022 160 2.350 245,000.00 245,000.00 246,715.00 FDIC Insured FDIC Insured Dollar Bank Federal Savings P
A 2.9 4/13/2023 25665QAX3 0.05 4/13/2018 4/13/2023 378 2.900 245,000.00 245,000.00 248,946.95 FDIC Insured FDIC Insured Eaglemark Savings Bank 2 3/9/2027 27004PCN1 0.05 3/9/2022 3/9/2027 1,804 2.000 245,000.00 245,000.00 237,689.20 FDIC Insured FDIC Insured Evans Bank NY 3 6/15/2022 299112AF9 0.05 6/15/2018 6/15/2022 76 3.000 245,000.00 245,000.00 246,315.65 FDIC Insured FDIC Insured First Bank IL 2.1 5/17/2022 319141FV4 0.05 5/17/2017 5/17/2022 47 2.100 245,000.00 245,000.00 245,526.75 FDIC Insured FDIC Insured First Technology 3.5 1
1/16/2023 33715LCT5 0.05 11/16/2018 11/16/2023 595 3.500 245,000.00 245,000.00 251,597.85 FDIC Insured FDIC Insured FirstTrust Savings Bank 2.45 6/20/2023 337630BX4 0.05 6/20/2019 6/20/2023 446 2.450 245,000.00 245,000.00 247,866.50 FDIC Insured FDIC Insured Flagstar Bank FSB 1.8 11/15/2022 33847E2V8 0.05 11/15/2019 11/15/2022 229 1.800 245,000.00 245,000.00 246,357.30 FDIC Insured FDIC Insured FNB Bank WV 2.7 4/4/2024 30257JAN5 0.05 4/4/2019 4/4/2024 735 2.700 245,000.00 245,000.00 247,748.90 FDIC Insured FDIC Insured FNB of McGregor TX 2.3 6/28/2024 32112UDA6 0.05 6/28/2019 6/28/2024 820 2.300 245,000.00 245,000.00 246,783.60 FDIC Insured FDIC Insured Fulton Bank PA 2.85 3/7/2023 359899AE1 0.05 3/7/2019 3/7/2023 341 2.850 245,000.00 245,000.00 248,755.85 FDIC Insured FDIC Insured Goldman Sachs Bank USA 2.55 6/19/2024 38149MBM4 0.05 6/19/2019 6/19/2024 811 2.550 245,000.00 245,000.00 246,749.30 FDIC Insured FDIC Insured Greenstate Credit Union 0.95 7/21/2026 39573LBM9 0.05 7/21/2021 7/21/2026 1,573 0.950 245,000.00 245,000.00 228,393.90 NCUA Insured NCUA Insured Industrial & Commercial Bank NY 2.15 4/12/2022 45581EAC5 0.05 4/12/2017 4/12/2022 12 2.150 245,000.00 245,000.00 245,139.65 FDIC Insured FDIC Insured Interaudi Bank NY 3.2 6/29/2023 45842PAQ4 0.05 6/29/2018 6/29/2023 455 3.200 245,000.00 245,000.00 250,125.40 FDIC Insured FDIC Insured Iowa State Bank 2.1 7/10/2024 46256YBB4 0.05 7/10/2019 7/10/2024 832 2.100 245,000.00 245,000.00 244,225.80 FDIC Insured FDIC Insured Jackson County Bank WI 2.05 8/31/2022 466682AQ4 0.05 8/31/2017 8/31/2022 153 2.050 245,000.00 245,000.00 246,362.20 FDIC Insured FDIC Insured Knoxville TVA Employee Credit Union 1.95 1
1/26/202 499724AK8 0.05 11/26/2019 11/26/2024 971 1.950 245,000.00 245,000.00 242,143.30 NCUA Insured NCUA Insured Legends Bank TN 2.75 2/22/2024 52465JHM2 0.05 2/22/2019 2/22/2024 693 2.750 245,000.00 245,000.00 248,224.20 FDIC Insured FDIC Insured Live Oak Banking Co 1.85 11/27/2024 538036GU2 0.05 11/27/2019 11/27/2024 972 1.850 245,000.00 245,000.00 241,503.85 FDIC Insured FDIC Insured City of Burbank
Portfolio Position Detail Report
Monthly Treasurer's Report
03/
31/2022
Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 Maine Savings FCU 1.9 11/8/2024 560507AN5 0.05 11/8/2019 11/8/2024 953 1.900 245,000.00 245,000.00 242,015.90 FDIC Insured FDIC Insured Medalion Bank UT 2.15 6/9/2022 58403B6R2 0.05 6/9/2017 6/9/2022 70 2.150 245,000.00 245,000.00 245,798.70 FDIC Insured FDIC Insured Mercantile Bank MI 2.1 5/10/2022 58740XZB9 0.05 5/10/2017 5/10/2022 40 2.100 245,000.00 245,000.00 245,448.35 FDIC Insured FDIC Insured Merrick Bank 2.2 7/31/2024 59013KBV7 0.05 7/31/2019 7/31/2024 853 2.200 245,000.00 245,000.00 244,627.60 FDIC Insured FDIC Insured Metro Credit Union 1.7 2/18/2027 59161YAP1 0.05 2/18/2022 2/18/2027 1,785 1.700 245,000.00 245,000.00 234,411.10 FDIC Insured FDIC Insured Morgan Stanley Bank NA 2.7 6/6/2024 61690UHB9 0.05 6/6/2019 6/6/2024 798 2.700 245,000.00 245,000.00 247,582.30 FDIC Insured FDIC Insured Morgan Stanley NY 2.85 4/4/2024 61760AYB9 0.05 4/4/2019 4/4/2024 735 2.850 245,000.00 245,000.00 248,456.95 FDIC Insured FDIC Insured Mountain America FCU UT 3 3/27/2023 62384RAF3 0.05 3/27/2018 3/27/2023 361 3.000 245,000.00 245,000.00 249,138.05 NCUA Insured NCUA Insured Naheola Credit Union 2.05 1/10/2025 629801AA9 0.05 1/10/2020 1/10/2025 1,016 2.050 245,000.00 245,000.00 245,646.80 NCUA Insured NCUA Insured National Coop Bank OH 3.4 12/21/2023 635573AL2 0.05 12/21/2018 12/21/2023 630 3.400 245,000.00 245,000.00 251,215.65 FDIC Insured FDIC Insured Northfield Bank NY 2.15 10/25/2022 66612ABX5 0.05 10/25/2017 10/25/2022 208 2.150 245,000.00 245,000.00 246,751.75 FDIC Insured FDIC Insured Ohio Valley Bank OH 2.05 9/8/2022 677721CR1 0.05 9/8/2017 9/8/2022 161 2.050 245,000.00 245,000.00 246,369.55 FDIC Insured FDIC Insured Old Dominion National Bank VA 3.2 6/28/2022 679585AC3 0.05 12/28/2018 6/28/2022 89 3.200 245,000.00 245,000.00 246,646.40 FDIC Insured FDIC Insured Plains Commerce Bank 2.55 5/30/2024 72651LCK8 0.05 5/30/2019 5/30/2024 791 2.550 245,000.00 245,000.00 246,835.05 FDIC Insured FDIC Insured Privatebank & Trust IL 2 5/5/2022 74267GVX2 0.05 5/5/2017 5/5/2022 35 2.000 245,000.00 245,000.00 245,367.50 FDIC Insured FDIC Insured Raymond James Bank NA 1.8 11/8/2024 75472RAK7 0.05 11/8/2019 11/8/2024 953 1.800 245,000.00 245,000.00 241,410.75 FDIC Insured FDIC Insured RCB Bank OK 3.15 6/20/2023 74934YAH4 0.05 6/20/2018 6/20/2023 446 3.150 245,000.00 245,000.00 249,944.10 FDIC Insured FDIC Insured Resource One Credit Union 1.9 11/27/2024 76124YAB2 0.05 11/27/2019 11/27/2024 972 1.900 245,000.00 245,000.00 241,817.45 NCUA Insured NCUA Insured Sallie Mae Bank Salt Lake 1 7/14/2026 7954507A7 0.05 7/14/2021 7/14/2026 1,566 1.000 245,000.00 245,000.00 229,040.70 FDIC Insured FDIC Insured State Bank Of India 1.65 1/21/2027 856285E31 0.05 1/21/2022 1/21/2027 1,757 1.650 245,000.00 245,000.00 234,099.95 FDIC Insured FDIC Insured Synchrony Bank Retail UT 2.4 4/7/2022 87165EL47 0.05 4/7/2017 4/7/2022 7 2.400 245,000.00 245,000.00 245,093.10 FDIC Insured FDIC Insured Third Fed Sav&Ln Clevlnd 1.95 11/25/2024 88413QCK2 0.05 11/25/2019 11/25/2024 970 1.950 245,000.00 245,000.00 242,165.35 FDIC Insured FDIC Insured Toyota Financial SGS BK 0.95 7/15/2026 89235MLC37 0.05 7/15/2021 7/15/2026 1,567 0.950 245,000.00 245,000.00 228,533.55 FDIC Insured FDIC Insured UBS Bank USA 0.95 8/11/2026 90348JR93 0.05 8/11/2021 8/11/2026 1,594 0.950 245,000.00 245,000.00 228,163.60 FDIC Insured FDIC Insured Viriva Credit Union 1.85 11/27/2024 92823NAA9 0.05 11/27/2019 11/27/2024 972 1.850 245,000.00 245,000.00 241,503.85 FDIC Insured FDIC Insured Wells Fargo 1.85 12/30/2022 949495AF2 0.05 12/30/2019 12/30/2022 274 1.850 245,000.00 245,000.00 246,619.45 FDIC Insured FDIC Insured Workers Credit Union 2.55 5/31/2022 98138MAB6 0.05 5/30/2019 5/31/2022 61 2.550 245,000.00 245,000.00 245,857.50 NCUA Insured NCUA Insured York Traditions Bank PA 2 9/15/2022 987159AP5 0.05 9/15/2017 9/15/2022 168 2.000 245,000.00 245,000.00 246,359.75 FDIC Insured FDIC Insured Sub Total / Average CD | Negotiable | 30 % 3.23 687 2.282 16,660,000.00 16,660,000.00 16,608,023.25 LAIF CITY - Per Account | 75M
LAIF | City of Burbank LGIP-Quarterly LAIF9113 0.37 6/30/2018 N/A 1 0.324 1,900,000.00 1,900,000.00 1,878,631.72 NR NR LAIF | Parking Authority LGIP-Quarterly LAIF9004 11.04 6/30/2018 N/A 1 0.324 56,900,000.00 56,900,000.00 56,260,076.31 NR NR LAIF | Youth Endowment Services LGIP-Quarterly LAIF9013 14.53 6/30/2018 N/A 1 0.324 74,900,000.00 74,900,000.00 74,057,640.00 NR NR Sub Total / Average LAIF CITY - Per Account | 75M 25.94 1 0.324 133,700,000.00 133,700,000.00 132,196,348.03 Medium Term Note | 30 %
3M Company 2.25 3/15/2023 88579YAX9
0.39 4/25/2019 3/15/2023 349 2.661 2,000,000.00 1,969,796.00 S&P-A+ Adobe Inc 3.25 2/1/2025-24 00724FAC5 0.58 3/20/2020 2/1/2025 1,038 2.649 3,000,000.00 3,081,780.00 S&P-A+ Apple Inc 2.1 9/12/2022-22 037833DC1 0.15 9/12/2017 9/12/2022 165 2.125 750,000.00 749,115.00 S&P-AA+ Apple Inc 2.4 5/3/2023 037833AK6 0.58 4/5/2019 5/3/2023 398 2.690 3,000,000.00 2,966,580.00 S&P-AA+ Apple Inc 2.4 5/3/2023 037833AK6 0.78 6/28/2019 5/3/2023 398 2.110 4,000,000.00 4,042,595.44 S&P-AA+ Bank of America Corp 4.125 1/22/2024 06051GFB0 0.58 3/18/2020 1/22/2024 662 2.950 3,000,000.00 3,127,140.00 S&P-A- Bank of NY Mellon Corp 2.2 8/16/2023 06406FAD5 0.36 6/19/2019 8/16/2023 503 2.480 1,850,000.00 1,829,624.10 S&P-A Bank of NY Mellon Corp 3.4 5/15/2024-24 06406HCV9 0.58 3/18/2020 5/15/2024 776 2.615 3,000,000.00 3,092,190.00 S&P-A Berkshire Hathaway 2.3 3/15/2027-27 084664CZ2 0.58 3/15/2022 3/15/2027 1,810 2.300 3,000,000.00 3,000,000.00 S&P-AA Berkshire Hathaway 2.75 3/15/2023-23 084670BR8 0.25 3/22/2018 3/15/2023 349 3.125 1,290,000.00 1,267,841.67 S&P-AA Blackrock Inc 3.375 6/1/2022 09247XAJ0 0.52 5/7/2018 6/1/2022 62 3.090 2,680,000.00 2,708,944.00 S&P-AA- BMW US Capital LLC 1.25 8/12/2026-26 05565EBW4 0.58 2/14/2022 8/12/2026 1,595 2.300 3,000,000.00 2,866,200.00 S&P-A Caterpillar Financial Services 1.7 1/8/2027 14913R2U0 0.58 3/11/2022 1/8/2027 1,744 2.430 3,000,000.00 2,900,826.00 S&P-A Charles Schwab Corp 2.65 1/25/2023 808513AT2 0.58 7/23/2019 1/25/2023 300 2.200 3,000,000.00 3,045,300.00 2,005,000.00 Moodys-A1
3,039,690.00 Moodys-A2
752,085.00 Moodys-Aaa
3,016,200.00 Moodys-Aaa
4,021,600.00 Moodys-Aaa
3,079,170.00 Moodys-A2
1,847,502.50 Moodys-A1
3,050,100.00 Moodys-A1
2,938,170.00 Moodys-Aa2
1,298,991.30 Moodys-Aa2
2,689,004.80 Moodys-Aa3
2,761,650.00 Moodys-A2
2,824,650.00 Moodys-A2
3,021,810.00 Moodys-A2 S&P-A
Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 Coca-Cola Co 1.75 9/6/2024 191216CL2 0.20 3/25/2020 9/6/2024 890 2.592 1,036,000.00 999,574.24 1,025,360.28 Moodys-A1 S&P-A+ Estee Lauder Co Inc 2 12/1/2024 29736RAN0 0.39 3/20/2020 12/1/2024 976 2.537 2,000,000.00 1,952,680.00 1,966,560.00 Moodys-A1 S&P-A+ Home Depot Inc 3.75 2/15/2024-23 437076BC5 0.25 3/27/2020 2/15/2024 686 2.452 1,270,000.00 1,330,680.60 1,297,762.20 Moodys-A2 S&P-A Honeywell International 2.3 8/15/2024 438516BW5 0.39 3/25/2020 8/15/2024 868 2.430 2,000,000.00 1,989,214.00 1,994,320.00 Moodys-A2 S&P-A Institute for Advanced Study 2.447 11/1/2022 45780DCC4 0.11 11/16/2017 11/1/2022 215 2.430 570,000.00 570,453.27 570,837.90 Moodys-Aaa S&P-AAA Intel Corp 2.7 12/15/2022 458140AM2 0.58 3/23/2020 12/15/2022 259 2.689 3,000,000.00 3,000,810.00 3,021,990.00 Moodys-A1 S&P-A+ Intel Corp 3.4 3/25/2025-25 458140BP4 0.39 2/8/2021 3/25/2025 1,090 0.760 2,000,000.00 2,214,260.00 2,030,380.00 Moodys-A1 S&P-A+ John Deere Capital Corp 2.6 3/7/2024 24422EUX5 0.39 6/25/2019 3/7/2024 707 2.385 2,000,000.00 2,019,036.00 2,004,940.00 Moodys-A2 S&P-A John Deere Capital Corp 3.45 3/13/2025 24422EUE7 0.19 3/20/2020 3/13/2025 1,078 2.801 1,000,000.00 1,029,970.00 1,019,280.00 Moodys-A2 S&P-A JP Morgan Chase & Co 3.125 1/23/2025-24 46625HKC3 0.58 3/19/2020 1/23/2025 1,029 2.815 3,000,000.00 3,041,760.00 3,015,480.00 Moodys-A2 S&P-A- Mars INC 0.875 7/16/2026-26 571676AJ4 0.39 8/11/2021 7/16/2026 1,568 1.110 1,995,000.00 1,972,516.35 1,815,170.70 Moodys-A1 S&P-A Mass Institute of Tech 3.308 7/1/2026-14 575718AD3 0.58 1/21/2022 7/1/2026 1,553 1.780 3,000,000.00 3,195,000.00 3,025,770.00 Moodys-Aaa S&P-AAA Massmutual Global Funding 1.2 7/16/2026 57629WDE7 0.58 7/16/2021 7/16/2026 1,568 1.180 3,000,000.00 3,002,880.00 2,769,510.00 Moodys-Aa3 S&P-AA+ Mastercard Inc 2 3/3/2025 57636QAN4 0.95 3/26/2020 3/3/2025 1,068 2.500 4,883,000.00 4,770,251.53 4,804,823.17 Moodys-A1 S&P-A+ Met Life Global 1.875 1/11/2027 59217GER6 0.39 2/8/2022 1/11/2027 1,747 2.350 2,000,000.00 1,956,047.61 1,878,880.00 Moodys-Aa3 S&P-AA- Met Tower Global Funding 1.25 9/14/2026 58989V2D5 0.24 10/25/2021 9/14/2026 1,628 1.530 1,228,000.00 1,211,866.41 1,133,382.60 Moodys-Aa3 S&P-AA- Microsoft Corp 2 8/8/2023-23 594918BQ6 0.59 12/6/2018 8/8/2023 495 3.296 3,050,000.00 2,880,115.00 3,059,394.00 Moodys-Aaa S&P-AAA Nestle Holdings Inc 1.15 1/14/2027-26 641062AV6 0.39 2/8/2022 1/14/2027 1,750 2.230 2,000,000.00 1,899,620.00 1,832,980.00 Moodys-Aa3 S&P-AA- New York Life Global FDG 0.85 1/15/2026 64952WDW0 0.58 7/1/2021 1/15/2026 1,386 1.100 3,000,000.00 2,966,880.00 2,761,230.00 Moodys-Aaa S&P-AA+ Nike Inc 2.25 5/1/2023-23 654106AC7 0.27 5/15/2018 5/1/2023 396 3.208 1,401,000.00 1,339,885.58 1,401,406.29 Moodys-A1 S&P-AA- Northwest Mutual Global 1.75 1/11/2027 66815L2F5 0.39 2/14/2022 1/11/2027 1,747 2.300 2,000,000.00 1,949,204.75 1,874,840.00 Moodys-Aaa S&P-AA+ PPL Electric 2.5 9/1/2022-22 69351UAQ6 0.49 10/13/2017 9/1/2022 154 2.434 2,541,000.00 2,548,647.60 2,544,023.79 Moodys-A1 S&P-A Pres & Fellows of Harvard 2.3 10/1/2023 740816AJ2 0.19 5/15/2019 10/1/2023 549 2.381 1,000,000.00 996,640.00 997,160.00 Moodys-Aaa S&P-AAA Pres & Fellows of Harvard 2.3 10/1/2023 740816AJ2 0.39 5/16/2019 10/1/2023 549 2.385 2,000,000.00 1,992,950.00 1,994,320.00 Moodys-Aaa S&P-AAA Pricoa Global Funding 1.2 9/1/2026 74153WCP2 0.39 9/23/2021 9/1/2026 1,615 1.180 2,000,000.00 2,001,900.00 1,833,940.00 Moodys-Aa3 S&P-AA- Pricoa Global Funding 1.2 9/1/2026 74153WCP2 0.19 10/4/2021 9/1/2026 1,615 1.300 1,000,000.00 995,256.00 916,970.00 Moodys-Aa3 S&P-AA- Proctor & Gamble Co 2.15 8/11/2022 742718EU9 0.58 11/21/2017 8/11/2022 133 2.285 3,000,000.00 2,981,910.00 3,008,880.00 Moodys-Aa3 S&P-AA- Qualcomm Inc 3.45 5/20/2025-25 747525AF0 0.19 3/11/2022 5/20/2025 1,146 2.477 974,000.00 1,002,879.10 989,126.22 Moodys-A2 S&P-A Qualcomm Inc 3.45 5/20/2025-25 747525AF0 0.52 3/11/2022 5/20/2025 1,146 2.477 2,700,000.00 2,780,055.00 2,741,931.00 Moodys-A2 S&P-A State Street Corp 3.55 8/18/2025 857477AT0 0.58 3/11/2022 8/18/2025 1,236 2.560 3,000,000.00 3,097,050.00 3,052,290.00 Moodys-A1 S&P-A Suntrust Bank 3.2 4/1/2024-24 86787EBC0 0.58 12/11/2019 4/1/2024 732 2.198 3,000,000.00 3,122,760.00 3,034,410.00 Moodys-A2 S&P-A Target Corp 1.95 1/15/2027-22 87612EBM7 0.58 1/31/2022 1/15/2027 1,751 1.950 3,000,000.00 3,000,000.00 2,897,190.00 Moodys-A2 S&P-A Texas Instruments Inc 2.25 5/1/2023 882508AW4 0.58 6/19/2019 5/1/2023 396 2.174 3,000,000.00 3,008,310.00 3,001,320.00 Moodys-Aa3 S&P-A+ TJX Cos Inc 2.5 5/15/2023 872540AP4 0.39 3/25/2020 5/15/2023 410 2.600 2,000,000.00 1,993,976.00 2,001,000.00 Moodys-A2 S&P-A Toyota Motor Credit 2.8 7/13/2022 89236TCQ6 0.54 5/22/2018 7/13/2022 104 3.297 2,765,000.00 2,712,133.20 2,776,060.00 Moodys-A1 S&P-A+ Toyota Motor Credit 3.35 1/8/2024 89236TFS9 0.39 1/8/2019 1/8/2024 648 3.356 2,000,000.00 1,999,460.00 2,028,300.00 Moodys-A1 S&P-A+ Unilever Capital Corp 3.375 3/22/2025-25 904764BB2 0.10 3/24/2020 3/22/2025 1,087 2.798 500,000.00 513,360.00 509,315.00 Moodys-A1 S&P-A+ Unilever Capital Corp 3.375 3/22/2025-25 904764BB2 0.29 3/24/2020 3/22/2025 1,087 2.752 1,500,000.00 1,543,305.00 1,527,945.00 Moodys-A1 S&P-A+ US Bancorp 2.4 7/30/2024 91159HHX1 0.58 7/31/2019 7/30/2024 852 2.380 3,000,000.00 3,002,790.00 2,980,260.00 Moodys-A2 S&P-A+ US Bancorp 3.375 2/5/2024 91159HHV5 0.19 4/15/2019 2/5/2024 676 2.844 1,000,000.00 1,023,651.00 1,013,750.00 Moodys-A2 S&P-A+ Visa Inc 2.15 9/15/2022-22 92826CAG7 0.58 9/15/2017 9/15/2022 168 2.151 3,000,000.00 2,999,850.00 3,009,210.00 Moodys-Aa3 S&P-AA- Walmart Inc 2.35 12/15/2022-22 931142DU4 0.58 4/13/2018 12/15/2022 259 2.900 3,000,000.00 2,928,270.00 3,013,230.00 Moodys-Aa2 S&P-AA Walmart Inc 2.85 7/8/2024 931142EL3 0.58 3/24/2020 7/8/2024 830 2.667 3,000,000.00 3,022,020.00 3,033,690.00 Moodys-Aa2 S&P-AA Walt Disney Company 1.75 8/30/2024 254687FK7 0.58 9/12/2019 8/30/2024 883 2.016 3,000,000.00 2,962,530.00 2,946,000.00 Moodys-A2 S&P-BBB+ Sub Total / Average Medium Term Note | 30 % 25.99 877 2.370 133,983,000.00 134,170,340.45 132,500,241.75 088006KA8 0.35 3/14/2022 6/1/2026 1,523 2.280 1,800,000.00 1,718,478.00 1,680,030.00 NR S&P-AA+ 13032UXM5 0.19 11/4/2020 6/1/2025 1,158 0.952 1,000,000.00 1,000,000.00 942,900.00 Moodys-Aa3 S&P-AA- Municipal Bonds | 30 %
Beverly Hills Public Financing Authority 1.147 6/1
Ca State Health Facilities0.952 6/1/2025-20
Ca State Infrastructure & Econ Dev Bank Revenu 13034AL65 0.10 12/17/2020 10/1/2025 1,280 0.765 500,000.00 500,000.00 468,010.00 NR S&P-AAA
Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 California State 4 3/1/2023 13063DSU3 0.39 3/24/2020 3/1/2023 335 2.651 2,000,000.00 2,075,740.00 2,045,080.00 Moodys-Aa2 S&P-AA- California State 5 8/1/2022 13063CVJ6 0.10 3/26/2020 8/1/2022 123 2.400 500,000.00 529,480.00 506,595.00 Moodys-Aa2 S&P-AA- Connecticut Housing 2.047 5/15/2024 20775C6B5 0.16 10/29/2019 5/15/2024 776 2.047 800,000.00 800,000.00 784,096.00 Moodys-Aaa S&P-AAA Connecticut State Housing Finance Authority 0.65 5 20775HDA8 0.31 11/10/2020 5/15/2023 410 0.650 1,605,000.00 1,605,000.00 1,581,583.05 Moodys-Aaa S&P-AAA Florida State Board of Public Education 0.55 6/1/2 34153QUD6 0.58 10/26/2020 6/1/2025 1,158 0.620 3,000,000.00 2,990,490.00 2,806,380.00 Moodys-Aaa S&P-AAA Long Beach 4 5/15/2024 542424VY9 0.41 3/24/2020 5/15/2024 776 2.401 2,135,000.00 2,268,843.15 2,230,541.25 Moodys-Aa2 NR Long Beach 5 5/15/2023 542424WF9 0.19 3/24/2020 5/15/2023 410 2.852 1,000,000.00 1,064,130.00 1,035,890.00 Moodys-Aa2 NR New York State Dormitory Authority 1.187 3/15/2026 64990FD50 0.15 6/23/2021 3/15/2026 1,445 1.187 750,000.00 750,000.00 696,112.50 NR S&P-AA+ NY Dormitory Authority 1.538 3/15/2027-21 64990FD68 0.46 3/18/2022 3/15/2027 1,810 2.740 2,365,000.00 2,233,198.55 2,200,277.75 NR S&P-AA+ NYC Transitional Finance Authority 2.11 5/1/2026 64971XLR7 0.21 6/24/2021 5/1/2026 1,492 1.100 1,100,000.00 1,152,349.00 1,060,587.00 Moodys-Aa1 S&P-AAA Oakland California Pension 4.676 12/15/2025-24 672319CF5 0.28 1/27/2021 12/15/2025 1,355 1.168 1,430,000.00 1,667,380.00 1,513,869.50 Moodys-Aa2 S&P-AA Palo Alto CA 3.12 11/1/2022 697364DX2 0.04 6/5/2018 11/1/2022 215 3.120 195,000.00 195,000.00 196,987.05 NR S&P-AA+ Poway Unif SD 2.042 8/1/2024 738850SX5 0.24 10/16/2019 8/1/2024 854 2.042 1,235,000.00 1,235,000.00 1,213,152.85 NR S&P-AA- San Francisco 5 5/1/2022 79766DSF7 0.58 3/26/2020 5/1/2022 31 2.849 3,000,000.00 3,130,320.00 3,008,790.00 Moodys-A1 S&P-A San Francisco CA 2.938 1/1/2023 79766DNW5 0.09 2/26/2019 1/1/2023 276 2.938 445,000.00 445,000.00 449,196.35 Moodys-A1 S&P-A San Francisco CA 3.038 1/1/2024 79766DNX3 0.09 2/26/2019 1/1/2024 641 3.038 450,000.00 450,000.00 453,703.50 Moodys-A1 S&P-A San Francisco Redev Agy Successor Agy 1.861 8/1/20 79770GJC1 0.58 12/17/2021 8/1/2026 1,584 1.550 3,000,000.00 3,041,430.00 2,837,640.00 NR S&P-AA South Gate Utility Authority 2.224 10/1/2024 83789TBQ1 0.19 12/18/2019 10/1/2024 915 2.224 1,000,000.00 1,000,000.00 984,220.00 NR S&P-AA- State of California 0.752 6/1/2024-20 13032UXL7 0.12 11/4/2020 6/1/2024 793 0.752 600,000.00 600,000.00 576,276.00 Moodys-Aa3 S&P-AA- State of California 2.367 4/1/2022 13063DAD0 0.43 4/27/2017 4/1/2022 1 2.367 2,200,000.00 2,200,000.00 2,200,000.00 Moodys-Aa2 S&P-AA- State of Texas 2.515 10/1/2022 8827237L7 0.29 4/16/2019 10/1/2022 184 2.500 1,500,000.00 1,500,720.00 1,510,635.00 Moodys-Aaa S&P-AAA Texas A&M University 2.202 5/15/2022 88213AJZ9 0.58 12/4/2017 5/15/2022 45 2.419 3,000,000.00 2,972,670.00 3,005,340.00 Moodys-Aaa S&P-AAA Texas A&M University 2.734 5/15/2023 88213AHK4 0.58 7/17/2018 5/15/2023 410 3.000 3,000,000.00 2,964,300.00 3,027,240.00 Moodys-Aaa S&P-AAA Texas State 2.749 10/1/2023 8827237M5 0.58 11/1/2018 10/1/2023 549 3.106 3,000,000.00 2,951,460.00 3,028,350.00 Moodys-Aaa S&P-AAA Univ of California Revenues 3.309 5/15/2026-21 91412GXC4 0.37 1/28/2022 5/15/2026 1,506 1.830 1,900,000.00 2,015,577.00 1,922,534.00 Moodys-Aa2 S&P-AA Sub Total / Average Municipal Bonds | 30 % 8.64 785 2.121 44,510,000.00 45,056,565.70 43,966,016.80 Supranational Obligations | 15 %
IADB 0.875 4/20/2026 4581X0DV7 0.58 4/20/2021 4/20/2026 1,481 0.940 3,000,000.00 2,990,490.00 2,798,400.00 Moodys-Aaa S&P-AAA IBRD Supranational 0.6 2/18/2026-22 45905U5Y6 0.58 2/18/2021 2/18/2026 1,420 0.600 3,000,000.00 3,000,000.00 2,790,720.00 Moodys-Aaa S&P-AAA IBRD Supranational 0.65 2/10/2026-21 459058JS3 0.58 2/10/2021 2/10/2026 1,412 0.650 3,000,000.00 3,000,000.00 2,800,710.00 Moodys-Aaa S&P-AAA Inter-American Devel BK 1.5 1/13/2027 4581X0EB0 0.58 1/13/2022 1/13/2027 1,749 1.530 3,000,000.00 2,995,680.00 2,866,680.00 Moodys-Aaa S&P-AAA Intl Bk Recon & Develop 0.875 7/15/2026 459058JX2 0.58 11/16/2021 7/15/2026 1,567 1.200 3,000,000.00 2,955,888.00 2,808,300.00 Moodys-Aaa S&P-AAA Intl Finance Corp 0.75 10/8/2026 45950KCX6 0.58 1/12/2022 10/8/2026 1,652 1.550 3,000,000.00 2,890,732.98 2,776,290.00 Moodys-Aaa S&P-AAA Sub T
otal / Average Supranational Obligations | 15 % 3.49 1,547 1.078 18,000,000.00 17,832,790.98 16,841,100.00 US Agency | 90 %
FFCB 1.54 11/30/2026-22 3133ENFN5 0.58 11/30/2021 1
1/30/2026 1,705 1.540 3,000,000.00 3,000,000.00 2,843,130.00 Moodys-Aaa S&P-AA+ FFCB 1.78 1/26/2027-23 3133ENLZ1 0.58 1/26/2022 1/26/2027 1,762 1.780 3,000,000.00 3,000,000.00 2,873,640.00 Moodys-Aaa S&P-AA+ FHLB 0.54 10/29/2025-21 3130AKCT1 0.58 11/6/2020 10/29/2025 1,308 0.571 3,000,000.00 2,995,500.00 2,812,770.00 Moodys-Aaa S&P-AA+ FHLB 0.6 1/28/2026-21 3130AKPC4 0.58 1/28/2021 1/28/2026 1,399 0.600 3,000,000.00 3,000,000.00 2,805,420.00 Moodys-Aaa S&P-AA+ FHLB 0.625 1/22/2026-21 3130AKQ74 0.58 1/22/2021 1/22/2026 1,393 0.625 3,000,000.00 3,000,000.00 2,779,590.00 Moodys-Aaa S&P-AA+ FHLB 0.65 2/26/2026-21 3130AKZ25 0.58 2/26/2021 2/26/2026 1,428 0.650 3,000,000.00 3,000,000.00 2,785,260.00 Moodys-Aaa S&P-AA+ FHLB 0.75 2/24/2026-21 3130ALCV4 0.58 2/24/2021 2/24/2026 1,426 0.750 3,000,000.00 3,000,000.00 2,778,720.00 Moodys-Aaa S&P-AA+ FHLB 0.8 3/16/2026-21 3130ALDN1 0.58 3/16/2021 3/16/2026 1,446 0.800 3,000,000.00 3,000,000.00 2,814,000.00 Moodys-Aaa S&P-AA+ FHLB 0.85 5/27/2026-22 3130AMLF7 0.58 5/27/2021 5/27/2026 1,518 0.850 3,000,000.00 3,000,000.00 2,823,090.00 Moodys-Aaa S&P-AA+ FHLB 0.875 3/23/2026-21 3130ALGC2 0.58 3/23/2021 3/23/2026 1,453 0.875 3,000,000.00 3,000,000.00 2,822,760.00 Moodys-Aaa S&P-AA+ FHLB 0.9 8/26/2026-22 3130ANLZ1 0.58 8/26/2021 8/26/2026 1,609 0.900 3,000,000.00 3,000,000.00 2,809,530.00 Moodys-Aaa S&P-AA+ FHLB 0.92 9/30/2026-22 3130AP2P9 0.58 9/30/2021 9/30/2026 1,644 0.920 3,000,000.00 3,000,000.00 2,803,830.00 Moodys-Aaa S&P-AA+ FHLB 1 10/14/2026-22 3130AP6U4 0.58 10/14/2021 10/14/2026 1,658 1.000 3,000,000.00 3,000,000.00 2,813,550.00 Moodys-Aaa S&P-AA+ FHLB 1.01 9/23/2026-22 3130ANW71 0.58 9/23/2021 9/23/2026 1,637 1.010 3,000,000.00 3,000,000.00 2,814,360.00 Moodys-Aaa S&P-AA+
Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 FHLB 1.05 6/26/2026-21 3130AMWT5 0.58 6/30/2021 6/26/2026 1,548 1.064 3,000,000.00 2,997,900.00 S&P-AA+ FHLB 1.08 10/14/2026-22 3130AP6Z3 0.58 10/14/2021 10/14/2026 1,658 1.080 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.1 10/13/2026-22 3130APB87 0.58 10/14/2021 10/13/2026 1,657 1.167 3,000,000.00 2,990,250.00 S&P-AA+ FHLB 1.1 10/21/2026-22 3130APAY1 0.43 10/21/2021 10/21/2026 1,665 1.121 2,200,000.00 2,197,800.00 S&P-AA+ FHLB 1.125 7/15/2026-21 3130AMYP1 0.58 7/15/2021 7/15/2026 1,567 1.125 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.15 10/26/2026-21 3130AP4H5 0.58 10/26/2021 10/26/2026 1,670 1.150 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.4 11/16/2026-22 3130APL37 0.58 11/16/2021 11/16/2026 1,691 1.400 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.45 11/23/2026-21 3130APPW9 0.58 11/23/2021 11/23/2026 1,698 1.450 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.5 11/23/2026-21 3130APVJ1 0.58 11/23/2021 11/23/2026 1,698 1.500 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.5 11/23/2026-21 3130APQB4 0.58 11/23/2021 11/23/2026 1,698 1.500 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.55 12/22/2026-22 3130AQ5C3 0.58 12/22/2021 12/22/2026 1,727 1.550 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.6 12/17/2026-22 3130APXT7 0.58 12/17/2021 12/17/2026 1,722 1.600 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.61 12/30/2026-22 3130AQ5P4 0.58 12/30/2021 12/30/2026 1,735 1.610 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.625 12/30/2026-22 3130AQAB9 0.58 12/30/2021 12/30/2026 1,735 1.625 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.8 1/14/2027 3130AQBS1 0.58 1/14/2022 1/14/2027 1,750 1.800 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.85 2/17/2027-22 3130AQNS8 0.58 2/17/2022 2/17/2027 1,784 1.850 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.9 2/17/2027-22 3130AQPE7 0.58 2/17/2022 2/17/2027 1,784 1.900 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 1.9 2/23/2027-23 3130AQTC7 0.58 2/23/2022 2/23/2027 1,790 1.900 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2 2/25/2027-22 3130AQRH8 0.58 2/25/2022 2/25/2027 1,792 2.000 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2 2/25/2027-22 3130AQRQ8 0.58 2/25/2022 2/25/2027 1,792 2.000 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.05 2/25/2027-22 3130AQUY7 0.58 2/25/2022 2/25/2027 1,792 2.050 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.1 4/26/2022 3130AB3U8 0.58 4/26/2017 4/26/2022 26 2.100 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.14 2/25/2027-22 3130AQW58 0.47 2/25/2022 2/25/2027 1,792 2.203 2,400,000.00 2,392,800.00 S&P-AA+ FHLB 2.2 3/29/2027-23 3130ARB34 0.58 3/29/2022 3/29/2027 1,824 2.200 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.2 3/4/2027-22 3130AQVH3 0.58 3/4/2022 3/4/2027 1,799 2.200 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.25 3/4/2027-22 3130AQX65 0.58 3/4/2022 3/4/2027 1,799 2.250 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.3 3/29/2027-23 3130ARBF7 0.58 3/29/2022 3/29/2027 1,824 2.300 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.5 2/25/2027-22 3130AQYG2 0.58 2/28/2022 2/25/2027 1,792 2.500 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.5 3/10/2027-22 3130AQYY3 0.58 3/10/2022 3/10/2027 1,805 2.500 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.6 3/25/2027-22 3130AR7E5 0.58 3/25/2022 3/25/2027 1,820 2.600 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.75 3/25/2027-22 3130ARAB7 0.58 3/30/2022 3/25/2027 1,820 2.750 3,000,000.00 3,000,000.00 S&P-AA+ FHLB 2.75 3/8/2027-22 3130AQZT3 0.58 3/8/2022 3/8/2027 1,803 2.750 3,000,000.00 3,000,000.00 S&P-AA+ FHLMC 0.375 9/23/2025 3137EAEX3 0.58 2/16/2022 9/23/2025 1,272 1.885 3,000,000.00 2,842,922.59 S&P-AA+ FHLMC 0.625 10/27/2025-21 3134GW3X2 0.58 10/27/2020 10/27/2025 1,306 0.625 3,000,000.00 3,000,000.00 S&P-AA+ FHLMC 0.65 11/26/2025-21 3134GXFA7 0.58 11/30/2020 11/26/2025 1,336 0.650 3,000,000.00 3,000,000.00 S&P-AA+ FNMA 0.375 8/25/2025 3135GO5X7 0.58 3/15/2022 8/25/2025 1,243 2.050 3,000,000.00 2,833,704.00 S&P-AA+ FNMA 0.56 11/17/2025-22 3135GA2Z3 0.58 11/17/2020 11/17/2025 1,327 0.560 3,000,000.00 3,000,000.00 S&P-AA+ FNMA 0.65 11/18/2025-22 3135GA4P3 0.58 11/18/2020 11/18/2025 1,328 0.650 3,000,000.00 3,000,000.00 2,833,020.00 Moodys-Aaa
2,830,380.00 Moodys-Aaa
2,832,690.00 Moodys-Aaa
2,079,044.00 Moodys-Aaa
2,838,300.00 Moodys-Aaa
2,841,810.00 Moodys-Aaa
2,867,520.00 Moodys-Aaa
2,869,980.00 Moodys-Aaa
2,874,900.00 Moodys-Aaa
2,877,360.00 Moodys-Aaa
2,883,420.00 Moodys-Aaa
2,871,660.00 Moodys-Aaa
2,881,920.00 Moodys-Aaa
2,877,060.00 Moodys-Aaa
2,890,140.00 Moodys-Aaa
2,909,760.00 Moodys-Aaa
2,901,930.00 Moodys-Aaa
2,905,530.00 Moodys-Aaa
2,891,040.00 Moodys-Aaa
2,906,010.00 Moodys-Aaa
2,918,850.00 Moodys-Aaa
3,003,120.00 Moodys-Aaa
2,341,128.00 Moodys-Aaa
2,932,800.00 Moodys-Aaa
2,931,030.00 Moodys-Aaa
2,941,020.00 Moodys-Aaa
2,943,240.00 Moodys-Aaa
2,959,770.00 Moodys-Aaa
2,961,510.00 Moodys-Aaa
2,955,420.00 Moodys-Aaa
2,975,550.00 Moodys-Aaa
2,969,250.00 Moodys-Aaa
2,784,360.00 Moodys-Aaa
2,810,520.00 Moodys-Aaa
2,793,720.00 Moodys-Aaa
2,791,890.00 Moodys-Aaa
2,789,850.00 Moodys-Aaa
2,810,610.00 Moodys-Aaa S&P-AA+
Sub Total / Average US Agency | 90 % 29.99 1,600 1.501 154,600,000.00 154,250,876.59 147,656,762.00 US Treasury | No Limit
T-Note 0.25 7/31/2025 91282CAB7 0.58 3/29/2022 7/31/2025 1,218 2.605 3,000,000.00 2,775,234.38 2,781,330.00 Moodys-Aaa NR T-Note 1.75 6/30/2022 912828XW5 0.78 12/26/2017 6/30/2022 91 2.205 4,000,000.00 3,922,187.50 4,012,040.00 Moodys-Aaa S&P-AA+ T-Note 1.875 7/31/2022 9128282P4 0.78 10/23/2017 7/31/2022 122 2.000 4,000,000.00 3,977,343.75 4,014,520.00 Moodys-Aaa S&P-AA+ T-Note 2.75 6/30/2025 912828XZ8 0.58 3/22/2022 6/30/2025 1,187 2.351 3,000,000.00 3,037,500.00 3,019,920.00 Moodys-Aaa NR Sub Total / Average US Treasury | No Limit 2.72 576 2.263 14,000,000.00 13,712,265.63 13,827,810.00 Total / Average 100 868 1.506 515,453,000.00 515,382,839.35 503,596,301.83
FINANCE DEPARTMENT / INVESTMENT WITH FISCAL AGENTS
AS OF March 31, 2022
Trust # Description Fiscal Trustee / Employee GIC ' s U.S. Treasury U.S. Gov't L.A. County Book Market Agent Retirement Funds Money Market Pooled Value Value
WASTE DISPOSAL
39017001 2012 Series B Wells Fargo $1 $1 $1
39017002 2012 Series B Wells Fargo $0 $0 $0
39017003 2012 Series B Wells Fargo $0 $0 $0
TOTAL $0 $0 $1 $0 $0 $1 $1
WASTE WATER
558940 2010 Series A Bank of New York/Mellon $1 $1 $1
TOTAL $0 $0 $1 $0 $0 $1 $1
WATER & POWER
273140000 Water Revenue Series 2021 - Debt Service Fund US Bank $951,451 $951,451 $951,451 273140001 Water Revenue Series 2021 - Cost of Issuance US Bank $13,261 $13,261 $13,261 273140002 Water Revenue Series 2021 - Project Fund US Bank $24,020,395 $24,020,395 $24,020,395 274893000 Electric Revenue Refunding Bonds- Series of 2012A US Bank $973,289 $973,289 $973,289 TOTAL $0 $0 $25,958,396 $0 $0 $25,958,396 $25,958,396
REDEVELOPMENT SUCCESSOR AGENCY
84070400 2015 Wells Fargo $3 $3 $3
" 2015 Wells Fargo $0 $0
84070401 2015 Wells Fargo $0 $0 $0
84070402 2015 Wells Fargo $1 $1 $1
84070403 2015 Wells Fargo $1 $1 $1
TOTAL $0 $0 $5 $0 $0 $5 $5
DEFERRED COMPENSATION
GREAT WEST LIFE $1,030,398 $1,030,398 $1,030,398
ICMA $226,509,829 $226,509,829 $226,509,829
TOTAL $227,540,227 $0 $0 $0 $0 $227,540,227 $227,540,227 GRAND TOTAL $227,540,227 $0 $25,958,404 $0 $0 $253,498,631 $253,498,631