1 INVESTMENT REPORT
For the Quarter Ending December 31, 2024
City of Hercules, California
CITY OF HERCULES
FINANCE DEPARTMENT
111 CIVIC DRIVE
HERCULES, CALIFORNIA 94547-1771
PHONE: 510-799-8200
February 11, 2025
Honorable Mayor and City Council:
I verified that this investment portfolio, as of December 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 December 31, 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 December 31, 2024
Book % of Average Market
Value Total Yield Value
Cash on Hand $2,005 $2,005
Cash on Deposit 5,414,633 5,414,633
Total Cash on Hand 5,416,638 7.71% 0.00% 5,416,638 Local Agency Investment Fund (LAIF) 57,279,117 81.50% 4.43% 57,257,465 Irrevocable Trust (Pension) 2,462,740 3.50% 6.81% 2,462,740 Irrevocable Trust (OPEB) 2,974,222 4.23% 6.81% 2,974,222 Investments with Bond Trustees 2,148,038 3.06% 4.29% 2,148,037 Total Portfolio $70,280,755 100.00% 5.18% $70,259,102
Amount over (under) Market Value vs. Book Value ($21,653) % of Portfolio -0.03%
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 December 31, 2024
(DAYS)
BOOK PURCHASE MATURITY LIFE TO REMAINING PAR MARKET
DESCRIPTION VALUE YIELD DATE DATE MATURITY LIFE VALUE VALUE
CASH ON HAND
PETTY CASH 2,005.00 0.00% 2,005.00 $2,005.00
CASH IN BANK
MECHANICS BANK - GENERAL CHECKING 4,483,174.56 0.00% 4,483,174.56 4,483,174.56 MECHANICS BANK - HERCULES RDA 750,900.46 0.00% 750,900.46 750,900.46 MECHANICS BANK - PD ASSET SEIZURE 180,558.27 0.00% 180,558.27 180,558.27 TOTAL AND AVERAGES 5,414,633.29 5,414,633.29 5,414,633.29
LOCAL AGENCY INVESTMENT FUND (LAIF)
LAIF 57,279,116.93 4.43% 9/30/2024 12/31/2024 92 - 57,279,116.93 57,257,464.56
IRREVOCABLE TRUST (PENSION/OPEB)
US BANK MUTUAL (PARS-OPEB) 2,974,222.12 6.81% 9/30/2024 12/31/2024 92 - 2,974,222.12 2,974,222.12 US BANK MUTUAL (PARS-PENSION) 2,462,740.21 6.81% 9/30/2024 12/31/2024 92 - 2,462,740.21 2,462,740.21 TOTAL AND AVERAGES 5,436,962.33 6.81% 92 - 5,436,962.33 5,436,962.33
INVESTMENTS WITH BOND TRUSTEES
THE BANK OF NEW YORK (BNY) JM 05 1 RESERVE
FUND 55,797.47 4.29% 9/30/2024 12/31/2024 92 - 55,797.47 55,797.47
THE BANK OF NEW YORK (BNY) MELLON TRUST
HERCULES PFA WW INTEREST ACCT 21 A 2,887.50 4.29% 9/30/2024 12/31/2024 92 - 2,887.50 2,887.50
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 REVENUE FUND) 774,228.60 4.29% 9/30/2024 12/31/2024 92 - 774,228.60 774,228.60
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV PRIN ACCT)129,417.15 4.29% 9/30/2024 12/31/2024 92 - 129,417.15 129,417.15
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV INT ACCT) 260,923.93 4.29% 9/30/2024 12/31/2024 92 - 260,923.93 260,923.93
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 RESERVE FD) 920,215.00 4.29% 9/30/2024 12/31/2024 92 - 920,215.00 920,215.00
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES 2020 INT FD) 4,567.80 4.29% 9/30/2024 12/31/2024 92 - 4,567.80 4,567.80 TOTAL AND AVERAGES 2,148,037.45 4.29% 92 - 2,148,037.45 2,148,037.45 TOTAL INVESTMENT REPORT $70,280,755.00 5.18% 92 - $70,280,755.00$70,259,102.63 City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended December 31, 2024
% of
Cash Description Book Value Total
Bond Trustee $2,148,037 3%
Irrevocable Trust 5,436,962 8%
Restricted 37,841,282 54%
General Fund 24,188,450 34%
Internal Service Funds 666,024 1%
Total, Book Value $70,280,755 100%
Restricted:
Wastewater 18,636,619
Successor Housing 5,883,496
Development Impact Fees 4,045,952
Successor Agency 2,598,968
Gas Tax & Measure J "Street" 1,078,409
SB1 RMRA 1,221,945
Solid Waste 932,658
Agency Fund 542,771
Landscape & Lighting 1,866,469
Asset Seizure 332,920
Capital Projects 479,854
COPS Program 221,221
37,841,282
Bond Trustee 3%Irrevocable Trust 8%Restricted 54%General Fund 34%Internal Service Funds 1%Cash by Fund December 4.434
November 4.477
October 4.518
September 4.575
August 4.579
July 4.516
PMIA Average Life(1): 252
LAIF Fair Value Factor(1): 0.999621985
PMIA Daily(1): 4.40
PMIA Quarter to Date(1): 4.48
LAIF Apportionment Rate(2): 4.62
LAIF Earnings Ratio(2): 0.00012664187216722
LAIF Administrative Cost(1)*:0.28
Treasuries
55.91%
Agencies
25.25%
Certificates of
Deposit/Bank Notes
8.46%
Time
Deposits
3.27%
Commercial
Paper
6.40%
Corporate
Bonds
0.58%
Loans
0.13%
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 California, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance
Report as of 12/31/24
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 12/31/24
Chart does not include $1,239,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
12/31/24
$155.4 billion