1 INVESTMENT REPORT
For the Quarter Ending December 31, 2023
City of Hercules, California
CITY OF HERCULES
FINANCE DEPARTMENT
111 CIVIC DRIVE
HERCULES, CALIFORNIA 94547-1771
PHONE: 510-799-8200
June 11, 2024
Honorable Mayor and City Council:
I verified that this investment portfolio, as of December 31, 2023, conforms with all state laws and City’s investment policy. The City’s expenditures requirements for the next months are covered by anticipated revenues from City operations and liquidity from cash on deposit.
As of December 31, 2023, the City has sufficient funds to meet its expenditure requirements for the next six months.
Sincerely,
Edwin Gato
Finance Director/City Treasurer
1 City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended December 31, 2023
Book % of Average Market
Value Total Yield Value
Cash on Hand $2,005 $2,005
Cash on Deposit 6,836,872 6,836,872
Total Cash on Hand 6,838,877 9.89% 1.80% 6,838,877 Local Agency Investment Fund (LAIF) 46,710,493 67.58% 3.93% 46,408,889 Irrevocable Trust (Pension) 2,248,129 3.25% 4.37% 2,248,129 Irrevocable Trust (OPEB) 2,800,753 4.05% 4.37% 2,800,753 Investments with Bond Trustees 10,523,198 15.22% 4.38% 10,523,198 Total Portfolio $69,121,450 100.00% 2.90% $68,819,846
Amount over (under) Market Value vs. Book Value ($301,604) % of Portfolio -0.44%
Investments by Type
Cash on Hand
LAIF
Irrevocable Trust
(Pension)
Irrevocable Trust
(OPEB)
Investments with
Trustees
2 City of Hercules
Detail for Investment Portfolio Summary Report
For the Quarter Ended December 31, 2023
(DAYS)
BOOK PURCHASE MATURITY LIFE TO REMAINING PAR MARKET
DESCRIPTION VALUE RATE YIELD DATE DATE MATURITY LIFE VALUE VALUE
CASH ON HAND
PETTY CASH 2,005.00 0.00% 0.00% 2,005.00 $2,005.00
CASH IN BANK
MECHANICS BANK - GENERAL CHECKING 6,271,676.41 0.00% 0.00% 6,271,676.41 6,271,676.41 MECHANICS BANK - HERCULES RDA 518,546.61 0.00% 0.00% 518,546.61 518,546.61 MECHANICS BANK - PD ASSET SEIZURE 25,386.98 0.00% 0.00% 25,386.98 25,386.98 CalTRUST 21,262.26 1.80% 1.80% 10/1/2023 12/31/2023 91 - 21,262.26 21,262.26 TOTAL AND AVERAGES 6,836,872.26 1.80% 1.80% 91 - 6,836,872.26 6,836,872.26
LOCAL AGENCY INVESTMENT FUND (LAIF)
LAIF 46,710,492.72 3.93% 3.93% 10/1/2023 12/31/2023 91 - 46,710,492.72 46,408,889.19
IRREVOCABLE TRUST (PENSION/OPEB)
US BANK MUTUAL (PARS-OPEB) 2,800,752.93 4.37% 4.37% 10/1/2023 12/31/2023 91 - 2,800,752.93 2,800,752.93 US BANK MUTUAL (PARS-PENSION) 2,248,128.52 4.37% 4.37% 10/1/2023 12/31/2023 91 - 2,248,128.52 2,248,128.52 TOTAL AND AVERAGES 5,048,881.45 4.37% 4.37% 91 - 5,048,881.45 5,048,881.45
INVESTMENTS WITH BOND TRUSTEES
WEBSTER BANK (STERLING NATIONAL BANK
ESCROW) 118,689.66 1.12% 1.12% 10/1/2023 12/31/2023 91 - 118,689.66 118,689.66 THE BANK OF NEW YORK (BNY) JM 05 1 RESERVE
FUND 55,797.47 0.00% 0.00% 10/1/2023 12/31/2023 91 - 55,797.47 55,797.47
THE BANK OF NEW YORK (BNY) MELLON TRUST
HERCULES PFA WW INTEREST ACCT 21 A 2,887.50 0.00% 0.00% 10/1/2023 12/31/2023 91 - 2,887.50 2,887.50
THE BANK OF NEW YORK (BNY) MELLON TRUST
HERCULES PFA WW ACQUISITION FD 21 A 8,325,000.00 0.00% 0.00% 10/1/2023 12/31/2023 91 - 8,325,000.00 8,325,000.00
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 REVENUE FUND) 600,907.21 5.20% 5.20% 10/1/2023 12/31/2023 91 - 600,907.21 600,907.21
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV PRIN ACCT) 139,268.71 5.20% 5.20% 10/1/2023 12/31/2023 91 - 139,268.71 139,268.71
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV INT ACCT) 322,366.16 5.20% 5.20% 10/1/2023 12/31/2023 91 - 322,366.16 322,366.16
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 RESERVE FD) 920,215.00 5.20% 5.20% 10/1/2023 12/31/2023 91 - 920,215.00 920,215.00
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES 2020 INT FD) 4,567.80 0.00% 0.00% 10/1/2023 12/31/2023 91 - 4,567.80 4,567.80 3 City of Hercules
Detail for Investment Portfolio Summary Report
For the Quarter Ended December 31, 2023
(DAYS)
BOOK PURCHASE MATURITY LIFE TO REMAINING PAR MARKET
DESCRIPTION VALUE RATE YIELD DATE DATE MATURITY LIFE VALUE VALUE THE BANK OF NEW YORK (BNY) MELLON TRUST (sa
HERCULES 2022 A B INTEREST ACCT) 33,498.59 0.00% 0.00% 10/1/2023 12/31/2023 91 - 33,498.59 33,498.59 TOTAL AND AVERAGES 10,523,198.10 4.38% 4.38% 91 - 10,523,198.10 10,523,198.10 TOTAL INVESTMENT REPORT $69,121,449.53 2.90% 2.90% 91 - $69,121,449.53 $68,819,846.00 4 City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended December 31, 2023
% of
Cash Description Book Value Total
Bond Trustee $10,523,198 15%
Irrevocable Trust 5,048,881 7%
Restricted 28,329,020 41%
General Fund 24,223,393 35%
Internal Service Funds 996,958 1%
Total, Book Value $69,121,450 100%
Restricted:
Wastewater 12,091,998
Successor Housing 5,504,019
Development Impact Fees 3,114,130
Successor Agency 2,281,155
Landscape & Lighting 1,506,250
Gas Tax & Measure J "Street" 1,045,197
Solid Waste 891,818
SB1 RMRA 698,307
Agency Fund 648,600
BART (Park & Ride) 235,612
Asset Seizure 228,055
Other 83,879
28,329,020
Bond Trustee
15%
Irrevocable Trust
7%
Restricted
41%
General Fund
35%
Internal Service Funds
2%
Cash by Fund
5 December 3.929
November 3.843
October 3.670
September 3.534
August 3.434
July 3.305**
PMIA Average Life(1): 230
LAIF Fair Value Factor(1): 0.993543131
PMIA Daily(1): 3.96
PMIA Quarter to Date(1): 3.81
LAIF Apportionment Rate(2): 4.00
LAIF Earnings Ratio(2): 0.00010932476863589
LAIF Administrative Cost(1)*: 0.29
Treasuries
61.22%
Agencies
21.44%
Certificates of
Deposit/Bank Notes
7.72%
Time
Deposits
3.34%
Commercial
Paper
5.71%
Corporate
Bonds
0.36%
Loans
0.21%
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a). *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year. ** Revised
Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 12/31/23
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 12/31/23
Chart does not include $2,164,000.00 in mortgages, which equatesto 0.001%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
12/31/23
$158.0 billion
6