1 INVESTMENT REPORT
For the Quarter Ending March 31, 2024
City of Hercules, California
CITY OF HERCULES
FINANCE DEPARTMENT
111 CIVIC DRIVE
HERCULES, CALIFORNIA 94547-1771
PHONE: 510-799-8200
June 25, 2024
Honorable Mayor and City Council:
I verified that this investment portfolio, as of March 31, 2024, 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 March 31, 2024, 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 March 31, 2024
Book % of Average Market
Value Total Yield Value
Cash on Hand $2,005 $2,005
Cash on Deposit 5,165,361 5,165,361
Total Cash on Hand 5,167,366 7.34% 1.00% 5,167,366 Local Agency Investment Fund (LAIF) 49,605,125 70.50% 4.23% 49,316,982 Irrevocable Trust (Pension) 2,301,057 3.27% 2.49% 2,301,057 Irrevocable Trust (OPEB) 2,866,692 4.07% 2.49% 2,866,692 Investments with Bond Trustees 10,422,771 14.81% 4.18% 10,422,771 Total Portfolio $70,363,011 100.00% 2.38% $70,074,868
Amount over (under) Market Value vs. Book Value ($288,143) % of Portfolio -0.41%
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 March 31, 2024
(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 3,965,735.34 0.00% 0.00% 3,965,735.34 3,965,735.34 MECHANICS BANK - HERCULES RDA 1,150,071.86 0.00% 0.00% 1,150,071.86 1,150,071.86 MECHANICS BANK - PD ASSET SEIZURE 28,071.98 0.00% 0.00% 28,071.98 28,071.98 CalTRUST 21,482.14 1.00% 1.00% 1/1/2024 3/31/2024 90 - 21,482.14 21,482.14 TOTAL AND AVERAGES 5,165,361.32 1.00% 1.00% 90 - 5,165,361.32 5,165,361.32
LOCAL AGENCY INVESTMENT FUND (LAIF)
LAIF 49,605,125.34 4.23% 4.23% 1/1/2024 3/31/2024 90 - 49,605,125.34 49,316,982.41
IRREVOCABLE TRUST (PENSION/OPEB)
US BANK MUTUAL (PARS-OPEB) 2,866,692.47 2.49% 2.49% 1/1/2024 3/31/2024 90 - 2,866,692.47 2,866,692.47 US BANK MUTUAL (PARS-PENSION) 2,301,057.32 2.49% 2.49% 1/1/2024 3/31/2024 90 - 2,301,057.32 2,301,057.32 TOTAL AND AVERAGES 5,167,749.79 2.49% 2.49% 90 - 5,167,749.79 5,167,749.79
INVESTMENTS WITH BOND TRUSTEES
WEBSTER BANK (STERLING NATIONAL BANK
ESCROW) 118,738.46 0.25% 0.25% 1/1/2024 3/31/2024 90 - 118,738.46 118,738.46 THE BANK OF NEW YORK (BNY) JM 05 1 RESERVE
FUND 55,797.47 0.00% 0.00% 1/1/2024 3/31/2024 90 - 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% 1/1/2024 3/31/2024 90 - 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% 1/1/2024 3/31/2024 90 - 8,325,000.00 8,325,000.00
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 REVENUE FUND) 626,630.45 5.16% 5.16% 1/1/2024 3/31/2024 90 - 626,630.45 626,630.45
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV PRIN ACCT) 208,648.35 5.16% 5.16% 1/1/2024 3/31/2024 90 - 208,648.35 208,648.35
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV INT ACCT) 160,285.63 5.16% 5.16% 1/1/2024 3/31/2024 90 - 160,285.63 160,285.63
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 RESERVE FD) 920,215.00 5.16% 5.16% 1/1/2024 3/31/2024 90 - 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% 1/1/2024 3/31/2024 90 - 4,567.80 4,567.80 TOTAL AND AVERAGES 10,422,770.66 4.18% 4.18% 90 - 10,422,770.66 10,422,770.66 TOTAL INVESTMENT REPORT $70,363,012.11 2.38% 2.38% 90 - $70,363,012.11 $70,074,869.18 3 City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended March 31, 2024
% of
Cash Description Book Value Total
Bond Trustee $10,422,771 15%
Irrevocable Trust 5,167,750 7%
Restricted 27,871,540 40%
General Fund 26,441,429 38%
Internal Service Funds 459,522 1%
Total, Book Value $70,363,012 100%
Restricted:
Wastewater 11,191,247
Successor Housing 5,499,535
Development Impact Fees 3,332,781
Successor Agency 2,917,026
Landscape & Lighting 981,709
Gas Tax & Measure J "Street" 929,220
Solid Waste 925,579
SB1 RMRA 857,940
Agency Fund 620,569
BART (Park & Ride) 230,864
Asset Seizure 228,607
Other 156,463
27,871,540
Bond Trustee
15%
Irrevocable Trust
7%
Restricted
40%
General Fund
37%
Internal Service Funds
1%
Cash by Fund
4 4.232
4.122
4.012
3.929
March
February
January
December
November 3.843
PMIA Average Life(1): 226
LAIF Fair Value Factor(1): 0.994191267
PMIA Daily(1): 4.22
PMIA Quarter to Date(1): 4.12
LAIF Apportionment Rate(2): 4.30
LAIF Earnings Ratio(2): 0.00011755619077389
LAIF Administrative Cost(1)*: 0.27
Treasuries
58.43%
Agencies
22.59%
Certificates of
Deposit/Bank Notes
8.84%
Time
Deposits
2.99%
Commercial
Paper
6.54%
Corporate
Bonds
0.41%
Loans
0.20%
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.
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 3/31/24
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 03/31/24
Chart does not include $1,969,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
3/31/24
$171.5 billion
5