1 INVESTMENT REPORT
For the Quarter Ending March 31, 2025
City of Hercules, California
CITY OF HERCULES
FINANCE DEPARTMENT
111 CIVIC DRIVE
HERCULES, CALIFORNIA 94547-1771
PHONE: 510-799-8200
May 13, 2025
Honorable Mayor and City Council:
I hereby affirm that the investment portfolio, as of March 31, 2025, complies with all relevant state laws and conforms to the City’s investment policy. The anticipated revenues from ongoing City operations, coupled with the available liquidity from cash deposits, sufficiently cover the City’s expenditure requirements for the upcoming months.
As of March 31, 2025, the City possesses adequate financial resources to meet its expenditure obligations for the next six months.
Sincerely,
Edwin Gato
Finance Director/City Treasurer
City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended March 31, 2025
Book % of Average Market
Value Total Yield Value
Cash on Hand $2,005 $2,005
Cash on Deposit 8,605,254 8,605,254
Total Cash on Hand 8,607,259 11.61% 0.00% 8,607,259 Local Agency Investment Fund (LAIF) 57,912,213 78.14% 4.31% 57,961,392 Irrevocable Trust (Pension) 2,491,468 3.36% 5.58% 2,491,468 Irrevocable Trust (OPEB) 3,008,916 4.06% 5.58% 3,008,916 Investments with Bond Trustees 2,090,743 2.82% 4.14% 2,090,743 Total Portfolio $74,110,599 100.00% 4.68% $74,159,778
Amount over (under) Market Value vs. Book Value $49,179 % of Portfolio 0.07%
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 March 31, 2025
(DAYS)
BOOK MARKET 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 4,465,871.47 0.00% 4,465,871.47 4,465,871.47 MECHANICS BANK - HERCULES RDA 3,945,900.82 0.00% 3,945,900.82 3,945,900.82 MECHANICS BANK - PD ASSET SEIZURE 193,481.40 0.00% 193,481.40 193,481.40 TOTAL AND AVERAGES 8,605,253.69 8,605,253.69 8,605,253.69
LOCAL AGENCY INVESTMENT FUND (LAIF)
LAIF 57,912,213.10 4.31% 1/1/2025 3/31/2025 89 - 57,912,213.10 57,961,391.63
IRREVOCABLE TRUST (PENSION/OPEB)
US BANK MUTUAL (PARS-OPEB) 3,008,916.02 5.58% 1/1/2025 3/31/2025 89 - 3,008,916.02 3,008,916.02 US BANK MUTUAL (PARS-PENSION) 2,491,467.78 5.58% 1/1/2025 3/31/2025 89 - 2,491,467.78 2,491,467.78 TOTAL AND AVERAGES 5,500,383.80 5.58% 89 - 5,500,383.80 5,500,383.80
INVESTMENTS WITH BOND TRUSTEES
THE BANK OF NEW YORK (BNY) JM 05 1 RESERVE
FUND 55,797.47 4.14% 1/1/2025 3/31/2025 89 - 55,797.47 55,797.47
THE BANK OF NEW YORK (BNY) MELLON TRUST
HERCULES PFA WW INTEREST ACCT 21 A 2,887.50 4.14% 1/1/2025 3/31/2025 89 - 2,887.50 2,887.50
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 REVENUE FUND) 718,892.33 4.14% 1/1/2025 3/31/2025 89 - 718,892.33 718,892.33
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV PRIN ACCT)231,130.59 4.14% 1/1/2025 3/31/2025 89 - 231,130.59 231,130.59
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV INT ACCT) 157,252.52 4.14% 1/1/2025 3/31/2025 89 - 157,252.52 157,252.52
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 RESERVE FD) 920,215.00 4.14% 1/1/2025 3/31/2025 89 - 920,215.00 920,215.00
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES 2020 INT FD) 4,567.80 4.14% 1/1/2025 3/31/2025 89 - 4,567.80 4,567.80 TOTAL AND AVERAGES 2,090,743.21 4.14% 89 - 2,090,743.21 2,090,743.21 TOTAL INVESTMENT REPORT $74,110,598.80 4.68% 89 - $74,110,598.80$74,159,777.33 City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended March 31, 2025
% of
Cash Description Book Value Total
Bond Trustee $2,090,743 3%
Irrevocable Trust 5,500,384 7%
Restricted 42,192,413 57%
General Fund 24,066,311 32%
Internal Service Funds 260,748 0%
Total, Book Value $74,110,599 100%
Restricted:
Wastewater 21,918,385
Successor Housing 5,887,899
Development Impact Fees 4,195,009
Capital Projects 2,949,944
Landscape & Lighting 1,496,504
SB1 RMRA 1,398,873
Gas Tax & Measure J "Street" 1,091,000
Successor Agency 994,354
Solid Waste 935,714
Agency Fund 708,121
Asset Seizure 359,232
COPS Program 257,378
42,192,413
Bond Trustee 3%Irrevocable Trust 7%Restricted 57%General Fund 33%Internal Service Funds 0%Cash by Fund March 4.313
February 4.333
January 4.366
December 4.434
November 4.477
October 4.518
PMIA Average Life(1): 244
LAIF Fair Value Factor(1): 1.000849191
PMIA Daily(1): 4.30
PMIA Quarter to Date(1): 4.34
LAIF Apportionment Rate(2): 4.48
LAIF Earnings Ratio(2): 0.00012266258268207
LAIF Administrative Cost(1)*:0.26
Treasuries
52.98%
Agencies
26.95%
Certificates of
Deposit/Bank Notes
9.25%
Time
Deposits
3.31%
Commercial
Paper
6.76%
Corporate
Bonds
0.60%
Loans
0.15%
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 03/31/25
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 3/31/25
Chart does not include $1,138,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
3/31/25
$156.8 billion