1 INVESTMENT REPORT
For the Quarter Ending September 30, 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 September 30, 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 September 30, 2023, the City has sufficient funds to meet its expenditure requirements for the next six months.
Sincerely,
Edwin Gato
Finance Director/City Treasurer
City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended September 30, 2023
Book % of Average Market
Value Total Yield Value
Cash on Hand $2,005 $2,005
Cash on Deposit 4,418,135 4,418,135
Total Cash on Hand 4,420,140 6.09% 0.05% 4,420,140 Local Agency Investment Fund (LAIF) 53,216,157 73.32% 3.53% 52,487,507 Irrevocable Trust (Pension) 2,079,595 2.87% 6.38% 2,079,595 Irrevocable Trust (OPEB) 2,590,792 3.57% 6.38% 2,590,792 Investments with Bond Trustees 10,269,204 14.15% 4.22% 10,269,204 Total Portfolio $72,575,888 100.00% 2.84% $71,847,238
Amount over (under) Market Value vs. Book Value ($728,650) % of Portfolio -1.00%
Investments by TypeCash on HandLAIFIrrevocable Trust(Pension)Irrevocable Trust(OPEB)Investments withTrustees City of Hercules
Detail for Investment Portfolio Summary Report
For the Quarter Ended September 30, 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 3,853,319.77 0.00% 0.00% 3,853,319.77 3,853,319.77 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 20,881.40 0.19% 0.19% 7/1/2023 9/30/2023 91 - 20,881.40 20,881.40 TOTAL AND AVERAGES 4,418,134.76 0.05% 0.05% 91 - 4,418,134.76 4,418,134.76
LOCAL AGENCY INVESTMENT FUND (LAIF)
LAIF 53,216,156.86 3.53% 3.53% 7/1/2023 9/30/2023 91 - 53,216,156.86 52,487,507.35
IRREVOCABLE TRUST (PENSION/OPEB)
US BANK MUTUAL (PARS-OPEB) 2,590,791.65 6.38% 6.38% 7/1/2023 9/30/2023 91 - 2,590,791.65 2,590,791.65 US BANK MUTUAL (PARS-PENSION) 2,079,595.32 6.38% 6.38% 7/1/2023 9/30/2023 91 - 2,079,595.32 2,079,595.32 TOTAL AND AVERAGES 4,670,386.97 6.38% 6.38% 91 - 4,670,386.97 4,670,386.97
INVESTMENTS WITH BOND TRUSTEES
WEBSTER BANK (STERLING NATIONAL BANK
ESCROW) 118,086.65 0.24% 0.24% 7/1/2023 9/30/2023 91 - 118,086.65 118,086.65 THE BANK OF NEW YORK (BNY) JM 05 1 RESERVE
FUND 55,797.47 0.00% 0.00% 7/1/2023 9/30/2023 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% 7/1/2023 9/30/2023 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% 7/1/2023 9/30/2023 91 - 8,325,000.00 8,325,000.00
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 REVENUE FUND) 571,166.01 5.22% 5.22% 7/1/2023 9/30/2023 91 - 571,166.01 571,166.01
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV PRIN ACCT) 73,236.23 5.22% 5.22% 7/1/2023 9/30/2023 91 - 73,236.23 73,236.23
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV INT ACCT) 164,748.71 5.22% 5.22% 7/1/2023 9/30/2023 91 - 164,748.71 164,748.71
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 RESERVE FD) 920,215.00 5.22% 5.22% 7/1/2023 9/30/2023 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% 7/1/2023 9/30/2023 91 - 4,567.80 4,567.80 City of Hercules
Detail for Investment Portfolio Summary Report
For the Quarter Ended September 30, 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 DEBT SERVICE) - 0.00% 0.00% 7/1/2023 9/30/2023 91 - - - THE BANK OF NEW YORK (BNY) MELLON TRUST (sa
HERCULES 2022 A B INTEREST ACCT) 33,498.59 0.00% 0.00% 7/1/2023 9/30/2023 91 - 33,498.59 33,498.59 TOTAL AND AVERAGES 10,269,203.96 4.22% 4.22% 91 - 10,269,203.96 10,269,203.96 TOTAL INVESTMENT REPORT $72,575,887.55 2.84% 2.84% 91 - $72,575,887.55 $71,847,238.04 City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended September 30, 2023
% of
Cash Description Book Value Total
Bond Trustee $10,269,204 14%
Irrevocable Trust 4,670,387 6%
Restricted 31,796,508 44%
General Fund 24,381,766 34%
Internal Service Funds 1,458,023 2%
Total, Book Value $72,575,888 100%
Restricted:
Other 110,640
Capital Projects 219,683
Asset Seizure 231,153
BART (Park & Ride) 341,793
Agency Fund 503,184
Landscape & Lighting 605,881
SB1 RMRA 611,719
Solid Waste 859,882
Gas Tax & Measure J "Street" 1,116,474
Successor Agency 2,275,277
Development Impact Fees 2,987,227
Successor Housing 5,487,586
Wastewater 16,446,009
31,796,508
Bond Trustee 14%Irrevocable Trust 6%Restricted 44%General Fund 34%Internal Service Funds 2%Cash by Fund September 3.534
August 3.434
July 3.305**
June 3.167
May 2.993
April 2.870
LAIF Apportionment Rate(2): 3.59
LAIF Earnings Ratio(2): 0.00009812538629360
LAIF Administrative Cost(1)*: 0.29
PMIA Average Life(1): 256
LAIF Fair Value Factor(1): 0.986307739
PMIA Daily(1): 3.48
PMIA Quarter to Date(1): 3.42
Treasuries
64.37%
Agencies
20.72%
Certificates of
Deposit/Bank Notes
7.03%
Time
Deposits
3.35%
Commercial
Paper
4.01%
Corporate
Bonds
0.28%
Loans
0.24%
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 9/30/2023
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 09/30/23
Chart does not include $2,444,000.00 in mortgages, which equates to 0.002%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
09/30/23
$156.4 billion