1 INVESTMENT REPORT
For the Quarter Ending September 30, 2024
City of Hercules, California
CITY OF HERCULES
FINANCE DEPARTMENT
111 CIVIC DRIVE
HERCULES, CALIFORNIA 94547-1771
PHONE: 510-799-8200
October 22, 2024
Honorable Mayor and City Council:
I verified that this investment portfolio, as of September 30, 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 September 30, 2024, 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, 2024
Book % of Average Market
Value Total Yield Value
Cash on Hand $2,005 $2,005
Cash on Deposit 4,504,681 4,504,681
Total Cash on Hand 4,506,686 6.70% 1.00% 4,506,686 Local Agency Investment Fund (LAIF) 55,095,362 81.89% 4.58% 54,892,393 Irrevocable Trust (Pension) 2,518,236 3.74% 5.44% 2,518,236 Irrevocable Trust (OPEB) 3,041,244 4.52% 5.44% 3,041,244 Investments with Bond Trustees 2,120,215 3.15% 4.13% 2,120,215 Total Portfolio $67,281,743 100.00% 3.03% $67,078,774
Amount over (under) Market Value vs. Book Value ($202,969) % of Portfolio -0.30%
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, 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 3,672,411.34 0.00% 0.00% 3,672,411.34 3,672,411.34 MECHANICS BANK - HERCULES RDA 750,900.46 0.00% 0.00% 750,900.46 750,900.46 MECHANICS BANK - PD ASSET SEIZURE 59,343.77 0.00% 0.00% 59,343.77 59,343.77 CalTRUST 22,025.10 1.00% 1.00% 7/1/2024 9/30/2024 91 - 22,025.10 22,025.10 TOTAL AND AVERAGES 4,504,680.67 1.00% 1.00% 91 - 4,504,680.67 4,504,680.67
LOCAL AGENCY INVESTMENT FUND (LAIF)
LAIF 55,095,362.33 4.58% 4.58% 7/1/2024 9/30/2024 91 - 55,095,362.33 54,892,393.33
IRREVOCABLE TRUST (PENSION/OPEB)
US BANK MUTUAL (PARS-OPEB) 3,041,243.79 5.44% 5.44% 7/1/2024 9/30/2024 91 - 3,041,243.79 3,041,243.79 US BANK MUTUAL (PARS-PENSION) 2,518,236.05 5.44% 5.44% 7/1/2024 9/30/2024 91 - 2,518,236.05 2,518,236.05 TOTAL AND AVERAGES 5,559,479.84 5.44% 5.44% 91 - 5,559,479.84 5,559,479.84
INVESTMENTS WITH BOND TRUSTEES
WEBSTER BANK (STERLING NATIONAL BANK
ESCROW) 118,729.19 0.25% 0.25% 7/1/2024 9/30/2024 91 - 118,729.19 118,729.19 THE BANK OF NEW YORK (BNY) JM 05 1 RESSMT FD
2019 192,173.59 0.00% 0.00% 7/1/2024 9/30/2024 91 - 192,173.59 192,173.59 THE BANK OF NEW YORK (BNY) JM 05 1 RESERVE
FUND 55,797.47 0.00% 0.00% 7/1/2024 9/30/2024 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% 7/1/2024 9/30/2024 91 - 2,887.50 2,887.50
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 REVENUE FUND) 667,332.67 5.10% 5.10% 7/1/2024 9/30/2024 91 - 667,332.67 667,332.67
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV PRIN ACCT) 54,346.34 5.10% 5.10% 7/1/2024 9/30/2024 91 - 54,346.34 54,346.34
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV INT ACCT) 104,165.47 5.10% 5.10% 7/1/2024 9/30/2024 91 - 104,165.47 104,165.47
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 RESERVE FD) 920,215.00 5.10% 5.10% 7/1/2024 9/30/2024 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% 7/1/2024 9/30/2024 91 - 4,567.80 4,567.80 TOTAL AND AVERAGES 2,120,215.03 4.13% 4.13% 91 - 2,120,215.03 2,120,215.03 TOTAL INVESTMENT REPORT $67,281,742.87 3.03% 3.03% 91 - $67,281,742.87 $67,078,773.87 City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended September 30, 2024
% of
Cash Description Book Value Total
Bond Trustee $2,120,215 3%
Irrevocable Trust 5,559,480 8%
Restricted 33,222,457 49%
General Fund 25,220,775 37%
Internal Service Funds 1,158,816 2%
Total, Book Value $67,281,743 100%
Restricted:
Wastewater 16,161,192
Successor Housing 5,883,016
Development Impact Fees 3,658,749
Successor Agency 2,594,757
Gas Tax & Measure J "Street" 1,144,069
SB1 RMRA 1,108,312
Solid Waste 892,427
Agency Fund 781,088
Landscape & Lighting 729,776
Asset Seizure 240,563
BART (Park & Ride) 28,508
33,222,457
Bond Trustee 3%Irrevocable Trust 8%Restricted 49%General Fund 38%Internal Service Funds 2%Cash by Fund September 4.575
August 4.579
July 4.516
June 4.480
May 4.332
April 4.272
PMIA Average Life(1): 217
LAIF Fair Value Factor(1): 0.996316042
PMIA Daily(1): 4.52
PMIA Quarter to Date(1): 4.36
LAIF Apportionment Rate(2): 4.55
LAIF Earnings Ratio(2): 0.00012419067099490
LAIF Administrative Cost(1)*: 0.16
Treasuries
58.85%Agencies
23.21%
Certificates of
Deposit/Bank Notes
8.17%
Time
Deposits
3.22%
Commercial
Paper
5.79%
Corporate
Bonds
0.51%
Loans
0.26%
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 9/30/24
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 09/30/24
Chart does not include $1,368,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
9/30/24
$163.4 billion