CITY OF LAGUNA NIGUEL
CITY COUNCIL AGENDA ITEM
To: Honorable Mayor and Council Members
FROM: Tamara S. Letourneau, City Manager
DATE: June 6, 2023
SUBJECT: Investment Report as of April 30, 2023
RECOMMENDATION
Staff recommends that the City Council receive and file the City of Laguna Niguel Investment Report as of April 30, 2023.
BACKGROUND
The City Investment Policy requires the City Manager to submit an Investment Report monthly to the City Council that contains a summary of investment transactions, including investment types, percent of portfolio, yield, purchase date, maturity date, issuer or institution, par and dollar amount invested, market value, source of market valuation, the portfolio's average weighted yield and maturity, and a description of any local agency funds or investments under the management of contracted parties.
Submission of, and the City Council's action of receiving and filing this Report, addresses Goal #2, fiscal sustainability, in the City's Strategic Plan.
ANALYSIS
As was discussed as part of the Investment report for the month of March 2023, City staff is implementing a 3-month strategy that focuses on moving invested monies from the Local Agency Investment Fund (LAIF) to United States Treasuries. The strategy will focus on safety and liquidity first and will earn a significantly higher yield than LAIF can currently offer. As of April 30th, $16.3 million has been invested in US Treasuries, earning an average yield over 4.41%. At the end of the 3-month strategy, the City will have the following maturity schedule of US Treasuries:
Month Maturing
Month purchased Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-23 $ 3,000,000 $ 3,000,000 $3,000,000
Apr-23 2,500,000 2,500,000 2,500,000
May-23 2,500,000 2,500,000 2,500,000
$3,000,000$2,500,000$2,500,000$3,000,000$2,500,000 $2,500,000$3,000,000 $2,500,000 $2,500,000 As securities begin to mature in June 2023, the City Manager and the Finance Director will evaluate the market conditions at that time and invest the monies in a security that
meets the needs and operations of the City. Staff continues to closely monitor the yields available through the Pooled Money Investment Account (MIA) that oversees the state's LAIF portfolio. The average monthly yield comparison through April 2023 in the graphic below shows that the average PMIA yield of 2.87% still trails the Fed Fund rate by almost 200 basis points. The US Treasuries being targeted by staff are yielding an interest rate much closer to the Fed Funds rate and will outperform LAIF during the investment period.
Average Monthly Yield Comparison - 04/2018 through 04/2023
6.00%
5.00% - PMIA
4.00% - S&P GIP
3.00% - - -•Fed Funds
2.00%
1.00%
0.00% April Yields
2.870%
4.940%
4.820%
Per Section G. 1 of the City's investment policy, there is no maximum amount that can be invested in US Treasuries, but the maximum maturity cannot exceed five years. The current strategy falls within the guidelines of that policy. US Treasuries are backed by the full faith and credit of the US Government and are considered one of the safest investments available.
As the City received a portion of its allotment for property taxes in April, staff increased the amount invested in the First American Bank Treasury Obligations money market fund.
This fund only invests in US Treasury securities and had a yield of 4.71% as of April 30, 2023. The City's investment policy allows a maximum of 10% of the entire portfolio to be invested in a single money market fund issuer. This money market fund will also provide additional liquidity as those funds will be available within the same day, if necessary The following table compares the portfolio balance as of April 2023 to April 2022.
Portfolio Balance April 2023 April 2022 Difference
Balance $64,303,826.38 $60,920,941.97 $3,382,884.41
From March 2023 to April 2023, the City's total cash and investments had a net increase of $1,443,267.20 going from $62,860,559. 18 to $64,303,826.38. Cash receipts were higher than outlay for the month. Notable items that led to the net increase is mainly derived from the receipt of secured property tax payments totaling $5,649,326.32, cash outlay to the County of Orange for March law enforcement services and for January - March building permit roadway fees in the amounts of $1,385,216.84, and $648,763.02 respectively. • The percentage of pooled investments decreased from 30.35% to 16.04%.
Pooled investments include the Local Agency Investment Fund (LAIF) and the Orange County Investment Pool (OCIP).
• The average weighted maturity of City investments, including investment pools, increased from 500 days to 516 days. The average weighted maturity of City investments, including investment pools, is calculated as follows: Sum of days left until maturity of each individual investment multiplied by the cost of each individual investment divided by the total portfolio at cost, excluding cash in bank.
• The net yield of LAIF increased from 2.831% to 2.870%. The net yield of OCIP increased from 3.253% to 3.509%. The net yield for the First American money market funds increased from 4.610% to 4.710%.
• The average weighted yield of City investments, including investment pools, increased from 2.358% to 2.720%. The City's average weighted yield of City investments, including investment pools, is calculated by taking the total investment earnings divided by the total portfolio at cost, excluding cash in bank. A comparison of the City's average weighted yield to short-term and long- term benchmarks is presented below.
City Portfolio Benchmark Comparisons
Average 5-Year 1-Year 6-Month OCIP LAIF
Weighted Treasury Treasury Treasury
Yield
2.720% 3.510% 4.800% 5.060% 3.509% 2.870%
The monthly Investment Report as of April 30, 2023, is attached.
ALTERNATIVES CONSIDERED
1. The City Council can choose not to receive and file the City of Laguna Niguel Investment Report as of April 30, 2023.
FISCAL REVIEW
There is no fiscal impact as a result of this action.
CONCLUSION
The City Investment Policy requires the submittal of a monthly Investment Report. Staff recommends that the City Council receive and file this Report.
Samara Setonsan In An
Tamara S. Letourneau Trevor Agrelius
City Manager Finance Director
Attachments:
A. Monthly Investment Report as of April 30, 2023
ATTACHMENT A
Investment Report as of April 30, 2023
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
as of
April 30, 2023
amara S. Letournea
TTY MANAGE
Trevor Agrelius
FINANCE DIRECTOR
June 6, 2023
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
TABLE OF CONTENTS
Statement of Compliance/Non-Compliance 1
Report of Cash and Investments 2
LAIF Investment Reports 3-5
OCIP Investment Reports 6-10
US Bank Statement 11-21
PARS Statement 22
City of Laguna Niguel
Statement of Compliance/Non-Compliance with the City's Investment Policy The undersigned officers of the City of Laguna Niguel hereby certify that:
As of April 30, 2023, the City was in compliance with the Investment Policy adopted at the July 19, 2022 Regular City Council Meeting.
Sufficient investment liquidity from cash and cash equivalents and anticipated revenues are available to meet the City's budgeted expenditure requirements for the next six months.
Tamara S. Letourneau Trevor Agrelius
City Manager Finance Director
City of Laguna Niguel
Summary of Cash and Investments
4/30/23
settlement Maturity Coupon Purchased Percent of Maximum Allowable Market Description Date Date Rate Yield Cost Portfolio Per Investment Policy Value Petty Cash/Change Drawers 2,600.00 0.00% N/A 2,600.00
US Bank Checking Account 2,022,226.59 3.14% N/A 2,022,226.59 US Bank Money Market 4.710% 5,557,500.00 8.64% 10.00% 5,557,500.00 Local Agency Investment Fund 2.870% 9,255,236.80 14.39% Lesser of $40 million or 55% 9,082,989.98 Orange County Investment Pool 3.509% 1,061,377.63 1.65% Lesser of $40 million or 55% 1,061,377.63 US Treasury Note 25.34% N/A
9128284U1 3/28/2023 4.230% 2,987,430.00 2,988,390.00
912828592 4/10/2023 4,480% 2,475,475.00 2,475,575.00
912828726 3/28/2023 4.430% 2,954,430.00 2,955,810.00
912828T91 4/10/2023 10/31/2023 1.625% 4.500% 2,461,250.00 2,459,875.00 912828V23 3/28/2023 4.350% 2,953,290.00 2,947,980.00
912828529 4/10/2023 4.530% 2,460,150.00 2,455,675.00
Federal Home Loan Mortgage Corporation: 8.07% 25.00%
3134GV5R5 7/15/2020 7/15/2024 0.570% 0.570% 1,000,000.00 948,390.00 3137EAEPO 1/29/2021 2/12/2025 1.500% 0.337% 4,188,112.71 3,814,280.00 Federal National Mortgage Association: 13.45% 25.00%
3135G05X7 1/29/2021 8/25/2025 0.375% 0.519% 8,645,922.29 7,999,563.00 Federal Farm Credit Banks: 6.21% 25.00%
3133ENVD9 4/26/2022 4/26/20272.875% 2.900% 3,995,360.00 3,869,040.00 Federal Home Loan Banks: 19.10% 25.00%
3130ATBLO 9/19/2022 12/8/2023 3.625% 3.810% 3,991,360.00 3,968,600.00 3130AJTF6 7/14/2020 7/14/2025 0.740% 0.740% 1,000,000.00 926,100.00 3130A/TX7 7/21/2020 7/21/2025 0.720% 0.720% 625,000.00 578,250.00 3130AMFS6 8/12/2021 6/12/2026 0.750% 0.735% 2,001,415.36 1,822,820.00 3130A8XY4 10/18/2021 9/11/2026 1.875% 1.100% 4,665,690.00 4,212,765.00
46.83% 60.00%
$ 64,303,826.38 100.00% 3 62,149,807.20
Restricted for Specific Use
PARS 115 Pension Trust $ 2,000,000.00 3.11% 20.00% $ 1,985,090.86 Average weighted maturity of Investments, excluding Investment Pools: 631 days Average weighted maturity of Investments, including Investment Pools: 516 days Average weighted yield of Investments, excluding Investment Pools 2.434% Average weighted yield of Investments, including Investment Pools 2.720% * Market value of City investments is provided by US Bank NOTE: Market value disclosure is for informational purposes only. City policy is to hold all investments to maturity; therefore, any unrealized gain or loss reflected between the cost and market value of an investment will not be realized.
PMIA/LAIF Performance Report LACT THE MAN
as of 05/17/23
PMIA Average Monthly Quarterly Performance
Effective Yields(1) Quarter Ended 03/31/23
April 2.870 LAIF Apportionment Rate(2). 2.74
March 2.831 LAIF Earnings Ratio(2). 0.00007493902135155 February 2.624 LAIF Fair Value Factor (2): 0.986510329
2.87 'MIA Quarter to Date(") 2.63
PMIA Average Life: 27:
Pooled Money Investment Account
Monthly Portfolio Composition (1)
04/30/23
$185.4 billion
Corporate
Commercial Bonds
Time Paper 0.23%
Deposits 3.94% Loans
2.84% 0.18%
Certificates of
Deposit/Bank Notes.
5.59%
Agencies.
20.56%
Treasuries
66.66%
Chart does not include $3,011,000.00 in mortgages, which equates to 0.002%. Percentages may not total 100% due to rounding.
Daily rates are now available here. View PMIA Daily Rates Notes: The apportionment rate includes interest earned on the CaPERS 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).
Source:
(I State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
3 State of California
Pooled Money Investment Account
Market Valuation
SHET-LOUDT HAND 4/30/2023
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
Bills $ 29,886,831,356.90 30,284,794,500.00 NA
Notes 91,976,367,283.09 89.811,281,000.00 T$ 296,484,192.00 Federal Agency:
SBA $ 316,476,424.60 316,089,757.75 1,268,803.49
MBS-REMICS $ 3.011,376.79 $ 2,983,755.10 $ 13,422.45
Debentures 10,349.814,514.02 10.214.885,500.00 54.655,453.75 Debentures FR
Debentures CL 2,450,000,000.00 2,398,527,500.00 $ 18,847,450.50 Discount Notes 21,850,420,548.61 22,150,048,500.00 NA
Supranational Debentures 3,124.199.926.26 3,064,839,000.00 $ 13,073,189.10 Supranational Debentures FR FA CA $
- -
CDs and YCDs FR - $ -
Bank Notes 200,000,000.00 199,821,219.01 $ 2,869,861.11 CDs and YCDs 09 0A CA 10,150,000,000.00 10,139,855,077.52 $ 171,592,805.57 Commercial Paper 7,301,528,791.71 $ 7,375,144.708.41 NA Corporate:
Bonds FR $ $ $ -
Bonds $ 429,682,654.93 $ 408.594.940.00 $ 2,563,416.93
Repurchase Agreements :
Reverse Repurchase $ $
Time Deposits 5,267.000,000.00 5,267,000,000.00 NA
PMIA & GF Loans 342,617,000.00 342,617,000.00 NA
TOTAL $ 183,647.949,876.91 I$ 181.976.482,457.79 | 5 561,368,594.90 Fair Value Including Accrued Interest $ 182,537,851,052.69 Repurchase Agreements, Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 4 5/1/23, 11:00 AM LAIF Regular Monthly Statement
California State Treasurer
Fiona Ma, CPA
Local Agency Investment Fund May 01, 2023
P.O. Box 942809
Sacramento, CA 94209-0001 LAIF Home
(916) 653-3001 PMIA Average Monthly Yields
CITY OF LAGUNA NIGUEL
TREASURER
30111 CROWN VALLEY PARKWAY
LAGUNA NIGUEL, CA 92677
Iran Type Definitions
Account Number:
April 2023 Statement
Web
Effective Transaction , Tran Confirm Contin
Date Date Type Number Jumbe Authorized Caller Amount
4/10/2023 4/10/2023 RW 1725795 N/A KRISTIN FORIER -8,500,000.00 4/14/2023 4/13/2023 QRD 1727974 N/A SYSTEM 190,662.62
4/19/2023 4/18/2023 RW 1728438 N/A KRISTIN FORIER -500,000.00 Account Summary
Total Deposit: 190,662.62 Beginning Balance: 18,064,574.18 Total Withdrawal: -9,000,000.00 Ending Balance: 9,255,236.80 https://laifms.treasurer.ca.gov/RegularStatement.aspx 1/1
COUNTY OF ORANGE
OFFICE OF THE TREASURER-TAX COLLECTOR DANCE COUNTR
Shari L. Freidenrich, CPA, CCMT, CPFA, ACPFIM
P. O. BOX 4515
SANTA ANA, CA 92702-4515
octreasurer.com/publicfunds
April 30, 2023
CITY OF LAGUNA NIGUEL
Attn: Eric Hendrickson, Finance Director
30111 Crown Valley Parkway
Laguna Niguel, CA 92677
Fund Number :
APRIL 2023 STATEMENT
INVESTMENT BALANCE IN OCIP
Transactions
Transaction Transaction Description Authorized Signer Amount Date
04/03/2023 March 2023 Investment Admin Fee (27.11)
04/26/2023 January 2023 Interest Paid 2,599.95
Summary
Total Deposit: $ 2,599.95 Beginning Balance: $ 1,058,804.79 Total Withdrawal: $ (27.11) Ending Balance: 1,061,377.63 OF
ORAT OFFICE OF THE TREASURER-TAX COLLECTOR
2 SHARI L. FREIDENRICH, CPA, CCMT, CPFA, ACPPIM
P.O. Box 4515
CALIFORNI SANTA ANA, CA 92702-4515
octreasurer.com/publicfunds
ORANGE COUNTY INVESTMENT POOL
APPORTIONMENT YIELDS & BASIS POINT FEES
Monthly Apportionment Monthly Apportionment Charged Basis Actual Basis FY 22/23 Date Year
Gross Yield Net Yield Point Fees Point Fees
YTD July 2022 0.848% (1) 0.793% (1) 5.5
GROSS August 2022 1.055% (1) 1.000% (1) 5.5
YIELD September 2022 1.280% (1) 1.225% (1) 5.5
1.503% October 2022 1.827% (1) 1.772% (1) 5.5
November 2022 2.405% 2.350% 5.5
YTD NET
YIELD
1.448%
Note: Effective December 1, 2022, reporting of Apportionment Yields is no longer being reported for the Orange County Investment Pool and yields ayonly being reported for the Orange County Treasurer's Pool (OCT). See the OCT report for December 2022 10 June 2023 gross FY 21/22 Monthly Apportionment Monthly Apportionment Charged Basis Actual Basis Date Year Net Yield Point Fees Point Fees
Gross Yield
July 2021 0.593% 0.535% 5.8
YTD August 2021 0.575% 0.517% 5.8
GROSS September 2021 0.562% 0.504% 5.8
YIELD October 2021 0.514% 0.456% 5.8
0.523% November 2021 0.515% 0.457% 5.8
December 2021 0.396% 0.338% 5.8 Not Yet
January 2022 0.402% 0.344% 5.8 Available
February 2022 0.439% 0.381% 5.8
YTD NET March 2022 0.462% 0.404% 5.8
YIELD April 2022 0.513% (1) 0.455% (1) 5.8
0.471% May 2022 0.614% (1) 0.594% (1) 2.0
June 2022 0.722% (1) 0.702% (1) 2.0
FY 20/21 Monthly Apportionment Monthly Apportionment Charged Basis Actual Basis Date Year Gross Yield Net Yield Point Fees Point Fees
July 2020 1.223% 1.164% 5.9 5.0
YTD August 2020 1.144% 1.085% 5.9 5.0
GROSS September 2020 1.060% 1.001% 5.9 5.0
YIELD October 2020 0.956% 0.897% 5.9 5.0
0.802% November 2020 0.899% 0.840% 5.9 5.0
December 2020 0.767% 0.708% 5.9 5.0
January 2021 0.694% 0.635% 5.9 5.0
February 2021 0.803% 0.744% 5.9 5.0
YTD NET March 2021 0.624% 0.565% 5.9 5.0
YIELD April 2021 0.539% 0.480% 5.9 5.0
0.752% May 2021 0.562% 0.503% 5.9 5.0
June 2021 0.598% 0.588% 1.0 5.0
(1) Revised gross and net yields based on adjustments to interest income Mission: Ensure safe and timely receipt, deposit, collection and investment of public funds.
ORANGE COUNTY TREASURER-TAX COLLECTOR
SUMMARY OF INVESTMENT DATA
INVESTMENT TRENDS
APRIL 2023 MARCH 2023 INCREASE NET CHANGE INCREASE
(DECREASE) APRIL 2022 NET CHANGE%
(DECREASE)
Orange County Investment Pool (OCIP)
End Of Month Market Value' 6,903,425,999 6,429,770,777 473,655,222 7.37% 6,381,562,118 521,863,881 8.18% End Of Month Book Value' 6,969,431,675 6,499,594,982 469,836,693 7.23% 6,467,734,310 501,697,365 7.76% Monthly Average Balance? 7,428,617,098 6,176,679,359 1,251,937,739 20.27% 7,114,514,411 314,102,687 4.41% Year-To-Date Average Balance 6,208,171,828 6,072,566,798 135,605,030 2.23% 5,808,737,365 399,434,463 6.88% Monthly Accrued Earnings® 21,873,810 17,327,338 4,546,471 26.24% 3,245,101 18,628,709 574.06% Monthly Net Yield? 3.509% 3.253% 0.256% 7,86% 0.455% 3.054% 671.26% Year-To-Date Net Yield3 2.331% 2.174% 0.157% 7.23% 0.471% 1.860% 394.92% Annual Estimated Gross Yield* 2.500% 2.500% 0.000% 0.00% 0.523% 1.977% 378.01% Weighted Average Maturity (WAM)5 209 199 10 5.03% 313 (104) -33.23% Orange County Educational Investment Pool (OCEIP)
End Of Month Market Value!? $ 8,568,839,197 7,736,339,489 832,499,708 10.76% 6,608,668,618 1,960,170,579 29.66% "End Of Month Book Value!? B,651,240,770 7,820,846,376 830,394,394 10.62% 6,699,469,306 1,951,771,464 29.13% Monthly Average Balance? 8,203,474,464 7,727,459,084 476,015,380 6.16% 6,151,095,510 2,052,378,954 33.37% Year-To-Date Average Balance? 7,098,266,757 6,975,465,901 122,800,856 1.76% 5,500,079,861 1,598,186,896 29.06% Monthly Accrued Earnings? 24,066,136 21,713,979 2,352,158 10.83% 2,698,761 21,367,375 791.75% Monthly Net Yield 3.509% 3.253% 0.256% 7.86% 0.505% 3.004% 594.89% Year-To-Date Net Yield' 2.344% 2.194% 0.150% 6.82% 0.480% 1.864% 388.28% Annual Estimated Gross Yield* 2.500% 2.500% 0.000% 0.00% 0.531% 1.969% 370.81% Weighted Average Maturity (WAM)S 209 199 10 5.03% 318 (109) -34.28% 1 Market values provided by Bloomberg and Norther Trust. Markel values for OCIP and OCEIP are lower than book values. Short-term rates have risen sharply causing the market values on these pools to be slightly below book values. The OCIP and OCEIP have sufficient liquidity to meel projected cash flow needs.
2 Tale, En or Mayi Boi Value, Monthly Average Balance and Year Daie Verage line are highe pan the pr ye raise aning for new sit pro a y eral and sale government due to aporionment of propery taxes. The CEIP End or Month Market 5 The OCIP and OCEIP WAM decreased from the prior year due to shorter term purchases.
ORANGE COUNTY TREASURER-TAX COLLECTOR
ORANGE COUNTY INVESTMENT FUND (OCIF)
ORANGE COUNTY TREASURER'S POOL (OCTP) AND SPECIFIC INVESTMENT ACCOUNTS ') FOR THE MONTH ENDED: April 30, 2023
OCTP INVESTMENT STATISTICS - By Reporting Entity!?
Average Days to Maturity Daily Yield as 01 4/30/2023 MONTHLY Gross Yield Current NAV
DESCRIPTION CURRENT BALANCES
MARKET Value $ 6,903,425,999 209 3.520% 3.539% 0.9905(2) Orange County Investment Pool (OCIP) COST (Capital) $ 6,923,681,880 MONTHLY AVG Balance $ 7,428,617,098
BOOK Value $ 6,969,431,675
MARKET Value $ 8,568,839,197 209 3.520% 3.539% 0.9905(2) range County Educational Investme COST (Capital) $ 8,594,192,005 MONTHLY AVG Balance $ 8,203,474,464
BOOK Value $ 8,651,240,770
INVESTMENT STATISTICS - Specific Investment Accounts?.
DESCRIPTION CURRENT BALANCE BY SPECIFIC INVESTMENT
Specific Investment Specific Investment Fund Market Value Book Value Current NAV Funds: Totals:
Pension Prepayment-CEO (PP-CEO) MARKET Value $ 558,873,831 PP-CEO 503,738,182 504,658,060 0.9980 Fountain Valley School District Fund 40 (FVSD) COST (Capital) $ 556,817,486 FVSD 32,922,587 34,049,314 0.9669 CCCD Series 2017E Bonds (CCCD) MONTHLY AVG Balance $ 556,913,660 CCCD 22,213,062 23,053,080 0.9636 John Wayne Airport Investment Fund (JWA) BOOK Vatue $ 561,760,454 SWA NIA
OCIF TOTALS
INVESTMENTS YEAR-TO-DATE EARNINGS
OCIP $ 6,923,681,880 OCIP 124,716,786
OCEIP 8,594,192,005 OCEIP 142,618,321
Specific Investment 556,817,486
Cash 39.421,372
Total Assets in the County Treasury $ 16.114,112.743 Total OCT Year-To-Date Earnings 267,335,107
KEY POOL STATISTICS
INTEREST RATE YIELD WEIGHTED AVERAGE MATURITY (WAM)
OCIP - YTD NET YIELD 2.331% OCTP 209
OCEIP - YTD NET YIELD 2.344% LGIP (Standard & Poors) 26 90-DAY T-BILL YIELD - MONTHLY AVERAGE 5.007%
(1) Reported in compliance with Government Code Section 53646 (b)(1), with 2022 IPS requiring at least quarterly reporting per Government Code Section 53646 (d). in Section VIl of this report. 2) The current OCTP level NAVs for OCIP and OCEIP have both increased slightly to 0.9905. Short-term rates continue to rise causing the market values on OCIP, OCEIP, PPCEO, FVSD ar CCD to stay below book values. The OCIP, OCEIP, FVSD and CCCD have sufficient liquidity to meet projected cash flow need 9 ORANGE COUNTY TREASURER - TAX COLLECTOR
BY INVESTMENT TYPE AT MARKET VALUE - By Percentage Holdings April 30, 2023
100%
90%
80%
70%
60%
40%
30%
20%
10%
0%
Orange County Investment Pool Orange County Educational Investment Pool Orange County Investment Pool Orange County Educational Investment Pool In Thousands In Thousands
lU. S. GOVERNMENT AGENCIES 4,697,540 68.05% •U. S. GOVERNMENT AGENCIES 5,814,959 67.86% U.S. TREASURIES 1,273,241 18.44% U.S.TREASURIES 1,589,563 18.55% MONEY MARKET MUTUAL FUNDS 900,299 13.04% MONEY MARKET MUTUAL FUNDS 1,123,935 13.12% LOCAL AGENCY INVESTMENT FUND 32.346 0.47% I LOCAL AGENCY INVESTMENT FUND 40,382 0.47% $ 6,903,426 100.00% 8.568,839 100.00%
19467
00--M -UC-UU -119-04
0220657-00-04007-04
usbank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: April 1, 2023 to April 30, 2023
MARKET VALUE SUMMARY
Current Period
04/01/23 to 04/30/23
Beginning Market Value Change: 11,776,334.16
$38,204,278.84 $60,000,000
Taxable Interest 22,433.11 $50,000,000
Cash Receipts 11,657,544.80
Change in Investment Value 96,356.25 $40,000,000
$30,000,000
Ending Market Value $49,980,613.00 $20,000,000
$10,000,000
$0-
Beginning Ending
MV MV
$38,204,278.84 $49,980,613.00
12 $44.423.113.00
Taxable Bonds
$1,053,523.13 100.00 $49,980,613.00 Total Market Value
791,475.00 88.90 44,423,113.00 Taxable Bonds
$5,557,500.00 262,048.13 11.10 5,557,500.00 Cash & Equivalents Cash & Equiv
Annual Income Total Market Value Assets
Estimated % of Current Period
ASSET SUMMARY
April 1, 2023 to April 30, 2023 ACCOUNT NUMBER:
CITY OF LAGUNA NIGUEL
usbank
0220657-00-04007-04
00--M -UC-UU -119-04
19467
13 $22,433.11 Total Current Period Income
22,433.11 Taxable Interest
Current Period
Income Received
INCOME SUMMARY
April 1, 2023 to April 30, 2023 ACCOUNT NUMBER:
CITY OF LAGUNA NIGUEL
usbank
0220657-00-04007-04
00--M -UC-UU -119-04
19467
$0.00 Ending Cash 04/30/2023
-4,283,102.91 Net Money Market Activity
-7,396,875.00 Purchases
11,657,544.80 Cash Receipts
22,433.11 Taxable Interest
$0.00 Beginning Cash 04/01/2023
Cash
CASH SUMMARY
April 1, 2023 to April 30, 2023 ACCOUNT NUMBER:
CITY OF LAGUNA NIGUEL
usbank.
0220657-00-04007-04
00- -M -UC-UU -119-04
19467
19467
00- -M -UC-UU -119-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: April 1, 2023 to April 30, 2023
ASSET DETAIL
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Cash & Equivalents
Cash/Money Market
First American Treasury Oblig - 31846V542
Fd CIZ
#3678
5,557,500.000 1.0000 5,557,500.00 5,557,500.00 0.00 11.1 262,048.13 4.71 Total Cash/Money Market $5,557,500.00 $5,557,500.00 $0.00 11.1 $262,048.13 Total Cash & Equivalents $5,557,500.00 $5,557,500.00 $0.00 11.1 $262,048.13 Taxable Bonds
US Government Issues
FHLMC - 3137EAEPO
1.500 02/12/2025
4,000,000.000 95.3570 3,814,280.00 4,188,112.71 -373,832.71 7.6 60,000.00 1.57 FHLMC MTN - 3134GV5R5
0.570 07/15/2024
1,000,000.000 94.8390 948,390.00 1,000,000.00 -51,610.00 1.9 5,700.00 0.60 FNMA - 3135G05X7
0.375 08/25/2025
8,700,000.000 91.9490 7,999,563.00 8,645,922.29 -646,359.29 16.0 32,625.00 0.41 Federal Farm Credit Bks - 3133ENVD9
2.875 04/26/2027
4,000,000.000 96.7260 3,869,040.00 3,995,360.00 -126,320.00 7.7 115,000.00 2.97 Federal Home Loan Bks - 3130AJTX7
0.720 07/21/2025
625,000.000 92.5200 578,250.00 625,000.00 -46,750.00 1.2 4,500.00 0.78 19467
00- -M -UC-UU - 119-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: April 1, 2023 to April 30, 2023
ASSET DETAIL (continued)
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Federal Home Loan Bks - 3130AJTF6
0.740 07/14/2025
1,000,000.000 92.6100 926,100.00 1,000,000.00 -73,900.00 1.9 7,400.00 0.80 Federal Home Loan Bks - 3130AMFS6
0.750 06/12/2026
2,000,000.000 91.1410 1,822,820.00 2,001,415.36 -178,595.36 3.6 15,000.00 0.82 Federal Home Loan Bks - 3130A8XY4
1.875 09/11/2026
4,500,000.000 93.6170 4,212,765.00 4,665,690.00 -452,925.00 8.4 84,375.00 2.00 Federal Home Loan Bks - 3130ATBLO
3.625 12/08/2023
4,000,000.000 99.2150 3,968,600.00 3,991,360.00 -22,760.00 7.9 145,000.00 3.65 U S Treasury Note - 912828S92
1.250 07/31/2023
2,500,000.000 99.0230 2,475,575.00 2,475,475.00 100.00 5.0 31,250.00 1.26 U S Treasury Note - 912828T26
1 375 09/30/2023
3,000,000.000 98.5270 2,955,810.00 2,954,430.00 1,380.00 5.9 41,250.00 1.40 U S Treasury Note - 912828T91
1.625 10/31/2023
2,500,000.000 98.3950 2,459,875.00 2,461,250.00 -1,375.00 4.9 40,625.00 1.65 U S Treasury Note - 912828V23
2.250 12/31/2023
3,000,000.000 98.2660 2,947,980.00 2,953,290.00 -5,310.00 5.9 67,500.00 2.29 U S Treasury Note - 9128285Z9
2.500 01/31/2024
2,500,000.000 98.2270 2,455,675.00 2,460,150.00 4.9 62,500.00 2.54 19467
00- -M -UC-UU -119-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: April 1, 2023 to April 30, 2023
ASSET DETAIL (continued)
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield
2.S5 06530/2023 - 9128284U1
3,000,000.000 99.6130 2,988,390.00 2,987,430.00 960.00 6.0 78,750.00 2.63 Total US Government Issues $44,423,113.00 $46,404,885.36 -$1,981,772.36 88.9 $791,475.00 Total Taxable Bonds $44,423,113.00 $46,404,885.36 -$1,981,772,36 88.9 $791,475.00 Total Assets $49,980,613.00 $51,962,385.36 -$1,981,772.36 100.0 $1,053,523.13 Estimated Current Yield 2.10
ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request.
Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation. may not resent Ye anal ale a en by your westment and hey prede no guate of what sur ly and meal may barin the fur making investment, rating, or tax decisions. The estimates 19467
00- -M -UC-UU -119-04
0220657-00-04007-04
usbank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: April 1, 2023 to April 30, 2023
TRANSACTION DETAIL
Date
Posted Activity Description Cash Tax Cost
Beginning Balance 04/01/2023 $0.00 $40,282,407.45
04/03/23 Asset Income Interest Earned On 1,134.72
First Am Govt Ob Fd CIZ
Interest From 3/1/23 To 3/31/23
04/03/23 Asset Income Interest Earned On 107.10
First Am Treas Ob Fd CIZ
Interest From 3/1/23 To 3/31/23
04/11/23 Cash Receipt Cash Receipt 8,500,000.00
Received To Account a guel
Due 10/21/21
Transfer Of Funds To Custody Account
04/11/23 Purchase Purchased 2,500,000 Par Value OF -2,475,475.00 2,475,475.00 U S Treasury Nt 1.250% 7/31/23
Trade Date 4/10/23
Purchased Through Cantor Fitzgerald & Co.
2,500,000 Par Value At 99.019 %
04/11/23 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -6,042.82 U S Treasury Nt 1.250% 7/31/23
Income Debit 6,042.82- USD
04/11/23 Purchase Purchased 2,500,000 Par Value Of -2,460,150.00 2,460, 150.00 U S Treasury Nt 2.500% 1/31/24
Trade Date 4/10/23
04/11/23 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -12,085.64 U S Treasury Nt 2.500% 1/31/24
Income Debit 12.085.64- USD
04/11/23 Purchase Purchased 2,500,000 Par Value Of -2,461,250.00 2,461,250.00 U S Treasury Nt 1.625% 10/31/23
Trade Date 4/10/23
Purchased Through Cantor Fitzgerald & Co.
2,500,000 Par Value At 98.45%
04/11/23 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -18,180.25 U S Treasury Nt 1.625% 10/31/23
Income Debit 18,180.25- USD
19467
00--M -UC-UU -119-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: April 1, 2023 to April 30, 2023
TRANSACTION DETAIL (continued)
Date
Posted Activity Description Cash Tax Cost
04/21/23 Cash Receipt Cash Receipt 3,157,544.80
Recd From City Of Laguna Niguel
Received In Account Via ACH™
Transter of Funds To Custody Account
04/26/23 Asset Income Interest Earned On 57,500.00
FF C B 2.875% 4/26/27
0.014375 USD/$1 Pv On 4,000,000 Par Value Due 4/26/23
Purchase Combined Purchases For The Period 4/ 1/23 - 4/30/23 Of -6,812,513.91 6,812,513.91 First Am Treas Ob Fd CIZ
Sale Combined Sales For The Period 4/1/23 - 4/30/23 Of 1,275,638.91 -1,275,638.91 First Am Treas 0b 50 01Z
Sale Combined Sales For The Period 4/ 1/23 - 4/30/23 Of 1,253,772.09 -1,253,772.09 First Am Govt Ob Fd CIZ
Ending Balance 04/30/2023 $0.00 $51,962,385.36
19467
022657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: April 1, 2023 to April 30, 2023
BOND SUMMARY
50% |
40%
30%
20%
10%
0%
2023 2024 2025 2026 2027
Percentage of
Par Value Market Value Category
MATURITY
2023 18,000,000.00 17,796,230.00 40.07
2024 3,500,000.00 3,404,065.00 7.67
2025 14,325,000.00 13,318,193.00 29.98
2026 6,035,585.00 13.58
2027 1500000000 8.70
3,869,040.00
Total of Category $46,325,000.00 $44,423,113.00 100.00
MOODY'S RATING
Aaa 45,325,000.00 43,474,723.00 97.87
N/A 1,000,000.00 948,390.00 2.13
Total of Category $46,325,000.00 $44,423,113.00 100.00
19467
00- -M -UC-UU -119-04
0220657-00-04007-04
usbank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: April 1, 2023 to April 30, 2023
BOND SUMMARY (continued)
Percentage of
Par Value Market Value Category
S&P RATING
AA+ 28,825,000.00 27,191,418.00 61.21
N/A 17,500,000.00 17,231,695.00 38.79
Total of Category $46,325,000.00 $44,423,113.00 100.00
BOND SUMMARY MESSAGES
Data contained within this section excluded Mutual Funds, Exchange Traded Funds, and Closed-Ended Funds.
PUBLIC
AGENCY PARS
RETIREMENT
SERVICES
CITY OF LAGUNA NIGUEL Account Report for the Period
PARS Post-Employment Benefits Trust 4/1/2023 to 4/30/2023 Tamara Letourneau
City Manager
City of Laguna Niguel
30111 Crown Valley Parkway
Laguna Niguel, CA 92677
Account Summary
Balance as of Balance as of
Source. 4/1/2023 Contributions Earnings Expenses Distributions Transfers 4/30/2023 PENSION S1,972,205.99 $0.00 $13,836.80 $951.93 $0.00 50.00 $1,985,090.86 Totals $1,972,205.99 $0.00 $13,836.80 $951.93 S0.00 S0.00 S1,985,090.86 Investment Selection
Source
PENSION Moderately Conservative HighMark PLUS
Investment Objective
Source
PENSION The dual goals of the Moderal Consentine sure po are nurentic. Manda deract capil precision The mio onion of the ses is Investment Return
Annualized Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years Plan's Inception Date PENSION 0.70% 0.18% 0.05% 2.66% 5/26/2020
Information as provided by US Bank, Trustee for PARS: Not FDIC Insured: No Bank Guarantee; May Lose Value Past performance does not guarantee future results. Performance returns may not reflect the deduction of applicable fees, which could reduce retums. Information is deemed reliable but may be subject to change.
Investment Retum: Annualized rate of return is the retur on an investment over a period other than one year multiplied or divided to give a comparable one-year retum.
Account balances are inclusive of Trust Administration, Trustee and Investment Management fees Headquarters - 4350 Von Karman Ave., Suite 100, Newport Beach, CA 92660| 800.540.6369 Fax 949.250.1250 www.pars.org 22