CITY OF LAGUNA NIGUEL
CITY COUNCIL AGENDA ITEM
To: Honorable Mayor and Council Members
FROM: Tamara S. Letourneau, City Manager
DATE: September 5, 2023
SUBJECT: Investment Report as of July 31, 2023
RECOMMENDATION
Staff recommends that the City Council receive and file the City of Laguna Niguel Investment Report as of July 31, 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
The economy continues to show resiliency and inflation remains above the Federal Open Market Committee's target of 2%. As economic data continues to show so strength, longer-term yields continue to rise. The five-year United States Treasury rate is inching close to 4.50% and represents the highest levels since 2007. The two-year Treasury rates are approaching 5.0%. City staff believe the City's investments are well positioned in this environment. In total, the City has $22.5 million of securities maturing this fiscal year, representing approximately 37% of the total portfolio. This liquidity will allow the City to deploy those funds very effectively, locking in higher yielding investments for longer periods of time.
Staff continues to track the available yields across each of the investments permitted by the City's investment policy. In July, the City purchased six different certificates of deposit for $250,000, which is the maximum amount that is insured through the Federal Deposits of Insurance. Those investments will yield 4.511% on average for the next four to five years.
FRED. - Marker Yeld on U.S. Treasury Securites at 5-Year Constant Maturty, Quoted an an Investment Basis Wednesday, Aug 16, 2023: -42
2007 2009 2010 2011 2012 2013 2014 2015 2016 201 2019 3000 2021 2022 2023 Source: Board of Governors of the Federal Reserve System (US) fred stounsfed org Shooed areas indicate us recessions
FRED « - Market Yeld on U.S. Treasury Securtles at 2-Year Constant Matully, Quoted on an Investment Bests Monday, Aug 21, 2023: 497
2019 2022 2023
2018
Source Board of Governors of the Federal Reserve System (US trno soulsico orn The City utilizes US Bank for the custodian account that holds these investments. The monthly statement provides an "estimated annual income" for investments held, included on page 17 of this report. As it stands now, the City can expect to receive $1,442,700 in investment income with the investments made. The "estimated annual income" was $476,609 on February 28, 2023, which was the last month before the City revised the investment strategy. This represents an increase of 203% in expected income in just five months! And because rates are still elevated, when the securities mature the City may have the ability to invest the $22.5 million maturing this year into higher earning securities than they are currently invested in.
The following table compares the portfolio balance as of July 2023 to July 2022.
Portfolio Balance July 2023 July 2022 Difference
Balance $64,817,162 $67,302,492 $(2,485,330)
• From June 2023 to July 2023, the City's total cash and investments had a net decrease of $1,085,025 going from $65,902, 187 to $64,817, 162. Cash outlays were higher than receipts for the month. The decrease is mainly derived from payments to California Joint Powers Insurance Authority for annual workers compensation and property insurance, and Callers for the unfunded accrued liability in the amounts of $815,411 and $417,359, respectively. • The percentage of pooled investments decreased from 0.87% to 0.26%. Staff determined the City received better value by moving those funds into the
money market accounts held at US Bank. Pooled investments include the LAIF and the Orange County Investment Pool (OCIP).
• The average weighted maturity of City investments, including investment pools and money market, increased from 499 days to 529 days. The average weighted maturity of City investments, including investment pools and money market, , 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 3.167% to 3.305%. net yield of OCIP increased from 3.732% to 3.756%. The net yield for the First American money market funds in the City's custodian account increased from 5.000% to 5.210%.
Staff anticipates each of these yields to increase in the short-term as the pooled investment funds trail the Fed Funds rate during periods of rising interest rates.
Average Monthly Yield Comparison - 06/2018 through 06/2023
6.00%
5.00% - PMIA
4.00% - S&P GIP
3.00% - --•Fed Funds
2.00%
1.00%
June Yields
0.00% 3.167%
PMA
2020 S&P GIP 5.240%
9/2018 12/2018 3/2019 6/2019 0/2019 12/2019 6/2020 9/2020 12/2020 3/2021 6/2021 9/2021 12/2021 3/2022 6/2022 9/2022 12/2022 3/2023 6/2023 5.070% Fed Funds
• The average weighted yield of City investments, including investment pools and money market, increased from 3.091% to 3.100%. As staff is beginning to target longer-term securities, the City's average weighted yield will trail the LAIF rate over the short term but is anticipated to outperform LAIF over the long term if rates decrease as early as next year, as projected by the FOMC voting members. The City's average weighted yield of City investments, including investment pools and money market, is calculated by taking the total investment earnings divided by the total portfolio at cost, and includes cash in the sweep investments. 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
3.100% 4.180% 5.370% 5.530% 3.756% 3.305%
The monthly Investment Report as of July 31, 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 July 31, 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.
Jamaa Sogetonsan.
Tamara S. Letourneau Trevor Agrelius
City Manager Finance Director
Attachments:
A. Monthly Investment Report as of July 31, 2023
ATTACHMENT A
Investment Report as of July 31, 2023
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
as of
July 31, 2023
amara S. Letournea
ITY MANAGE
Trevor Agrelius
FINANCE DIRECTOR
September 5, 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 6-9
US Bank Statement 10-23
PARS Statement 24
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 July 31, 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.
Samara Storesee a
Tamara S. Letourneau
City Manager Finance Director
1 City of Laguna Niguel
Summary of Cash and Investments
7/31/23
Settlement Maturity Coupon Purchased Percent of Maximum Allowable Market Description Date Yield Portfollo Per Investment Policy Value 2,500.00 0.00% N/A 2,500.00
Ps tankchchange restment accounts 4.769% 4,352,260.35 6.71% N/A 4,352,260.35 US Bank Money Market 5.210% 5,332,425.91 8.23% 10.00% 5,332,425.91 Local Agency Investment Fund 3.305% 99,907.23 0.15% Lesser of $40 million or 55% 98,391.49 Orange County Investment Pool 3.756% 70,648.63 0.11% Lesser of $40 million or 55% 70,648.63 US Treasury Note: 31.76% N/A
9128282D1 5/16/2023 8/31/2023 1.375% 4.803% 2,475,325.00 2,491,875.00 912828T26 3/28/2023 9/30/2023 1.375% 4.430% 2,954,430.00 2,980,440.00 912828T91 4/10/2023 10/31/2023 1.625% 4.500% 2,461,250.00 2,477,650.00 912828U57 5/16/2023 11/30/2023 2.125% 4.460% 2,469,100.00 2,472,950.00 912828V23 3/28/2023 12/31/2023 2.250% 4.350% 2,953,290.00 2,961,090,00 912828529 4/10/2023 1/31/2024 2.500% 4.530% 2,460,150.00 2,464,350.00 9128286G0 5/16/2023 2/29/2024 2.375% 4.501% 2,459,075.00 2,457,025.00 912810EV6 6/22/2023 8/15/2025 6.875% 4.311% 2,104,000.00 2,077,040.00 Certificates of Deposit:
062119CD2 7/28/2023 7/28/2028 4.500% 4.500% 250,000.00 242,327.50 05580AY24 7/18/2023 4/14/2028 4.400% 4.408% 249,875.00 242,052.50 15140RCY3 7/25/2023 7/26/2027 4.700% 4.700% 250,000.00 246,490.00 20033A412 7/26/2023 7/26/2028 4.450% 4,450% 250,000.00 241,792.50 2546733V6 7/18/2023 4/17/2028 4.400% 4.408% 249,875.00 242,017.50 8562834C7 7/31/2023 8/2/2027 4.600% 4.500% 250,000.00 245,595.00 Federal Home Loan Mortgage Corporation: 8.00% 25.00%
3134GV5R5 7/15/2020 7/15/2024 0.570% 0.570% 1,000,000.00 952,950.00 3137EAEPO 1/29/2021 2/12/2025 1.500% 0.337% 4,188,112.71 3,788,760.00 Federal National Mortgage Association: 13.34% 25.00%
3135605X7 1/29/2021 8/25/2025 0,375% 0.519% 8,645,922.29 7,932,921.00 Federal Farm Credit Banks: 6.16% 25.00%
3133ENVD9 4/26/2022 4/26/2027 2.875% 2.900% 3,995,360.00 3,778,640.00 Federal Home Loan Banks: 23.60% 25.00%
3130ATBLO 9/19/2022 12/8/2023 3.625% 3.810% 3,991,360.00 3,972,360.00 3130AJTF6 7/14/2020 7/14/2025 0.740% 0.740% 1,000,000.00 921,360.00 3130AJTX7 7/21/2020 7/21/2025 0.720% 0.720% 625,000.00 575,268.75 3130AMFS6 8/12/2021 6/12/2026 0.750% 0.735% 2,001,415.36 1,785,180.00 3130AWLY4 7/25/2023 6/13/2025 5.125% 4.900% 1,004,010.00 1,001,450.00 3130A8XY4 10/18/2021 9/11/2026 1.875% 1.100% 4,665,690.00 4,146,705.00 3130AWC24 6/23/2023 6/9/2028 4.000% 3.930% 2,006,180.00 1,973,720.00
51.10% 60,00%
$ 64,817,162.48 98.07% 3 62,528,236.13
Restricted for Specific Use
PARS 115 Pension Trust $ 2,000,000.00 3.09% 20.00% $ 2,029,921.10 Average welghted maturity of Investments, excluding Investment Pools: 624 days Average weighted maturity of Investments, including investment Pools and Money Market: 529 days Average weighted yield of investments, excluding Investment Pools: 2.762% Average weighted yield of Investments, including investment Pools and Money Market: 3.100% * 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.
LUNCH HILDY AREN
PMIA/LAIF Performance Report
as of 08/16/23
Quarterly Performance PMIA Average Monthly
Quarter Ended 06/30/23 Effective Yields)
LAIF Apportionment Rate 2). 3.15 July 3.305**
LAIF Earnings Ratio 2) 0.00008636172883763 June 3.167
LAIF Administrative Cost**. 0.06 May 2.993
LAIF Fair Value Factor: 0.984828499 April 2.870
PMIA Daily!" 3.26 March 2.831
PMIA Quarter to Date(.). 3.01 February 2.624
PMIA Average Life: 260
Pooled Money Investment Account
Monthly Portfolio Composition (1)
07/31/23
$173.5 billion
Corporate
Commercial Bonds
Time Paper 0.25%
Deposits 4.41% Loans
3.00% .0.20%
Certificates of
Deposit/Bank Notes -
7.81%
Agencies -
Treasuries
23.10%
61.23%
Chart does not include $2,786,000.00 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 Votes: The apportionment rate includes interest earned on the CaPERS Supplemental Pension Payment pursuant to Government Code 2082.
C)(1) and interest eared 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 earings. The law provides tha administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rote on the last day ol the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year. ** Revised
Source:
I State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
3 State of California
PMIA Pooled Money Investment Account
Market Valuation
7/31/2023
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
22.920.227,364.58 23,272,620,000.00 NA
Bills
Notes 83.314,819,866.68 81,193,694,500.00 $ 369,399,386.50 Federal Agency: 1.319.177.05
SBA $ 298,056,508.17 $ 297,329.020.36 $
MBS-REMICS $ 2,785,943.15 2.722,924.80 12,388.10
Debentures 8,820,713,286.83 8,646,121,900.00 $ 57,478,299.40 Debentures FR $ $
Debentures CL 1,600,000,000.00 1,553,961,000.00 14,177,742.50 Discount Notes $ 26,191,585,597.26 26,522,640,500.00 NA Supranational Debentures $ 3.170,170,437.63 $ 3,101,232,000.00 $ 22,819,258.10 Supranational Debentures FR $ $
CDs and YCDs FR $
Bank Notes 100,000,000.00 $ 99,907,181.10 $ 2,552,083.33 CDs and YCDs 13,450,000,000.00 13,443,309,931.60 230,379,805.55 Commercial Paper 7,646,843,861.11 $ 7.723,753,430.51 NA Corporate:
Bonds FR $ $ $
Bonds $ 438,848,712.92 $ 414,791,860.00 $ 2,753,541.98
Repurchase Agreements $ $
: :
Reverse Repurchase $ $
Time Deposits 5,208,000,000.00 5,208,000,000.00 NA
PMIA & GF Loans 349,147.000.00 349,147,000.00 NA
TOTAL $ 173.511.198,578.33 $ 171.829,231,248.37 700,891,682.51 Fair Value Including Accrued Interest $ 172,530,122,930.88 Repurchase Agreements, Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 4 California State Treasurer
Fiona Ma, cPA
Local Agency Investment Fund August 01, 2023
P.O. Box 942809
LAIF Home
Sacramento, CA 94209-0001 PMIA Average Monthly.
(916) 653-3001 Yields
CITY OF LAGUNA NIGUEL
TREASURER
30111 CROWN VALLEY PARK WAY
LAGUNA NIGUEL, CA 92677
Tran Type Definitions
Account Number:
July 2023 Statement
Web
E Dative Transaction Type Contire Tran Confirm Confirm
Date Date Number Authorized Caller Amount
7/7/2023 7/6/2023 RW 1731294 N/A KRISTIN FORIER -250,000.00 7/14/2023 7/19/2023 QRD 1736104 N/A SYSTEM 44,670.43
Account Summary
Total Deposit: 44,670.43 Beginning Balance: 305,236.80
Total Withdrawal: -250,000.00 Ending Balance: 99,907.23
COUNTY OF ORANGE
OFFICE OF THE TREASURER-TAX COLLECTOR
Shari L. Freidenrich, CPA, CCT, CPFA, ACPFIM
P. O. BOX 4515
SANTA ANA, CA 92702-4515
LIFO
octreasurer.com/publicfunds
July 31,2023
CITY OF LAGUNA NIGUEL
Fund Number :
JULY 2023 STATEMENT
INVESTMENT BALANCE IN OCIP
Transactions
Transaction Transaction Description Authorized Signer Amount Date
07/11/2023 Withdrawal Kristin Forier $ (200,000.00)
07/28/2023 April 2023 Interest Paid $ 3,102.84
Summary
3,102.84 Beginning Balance: $ 267,545.79
Total Deposit: $
Total Withdrawal: $ (200,000.00) Ending Balance: $ 70,648.63 6 ORANGE COUNTY TREASURER-TAX COLLECTOR
SUMMARY OF INVESTMENT DATA
INVESTMENT TRENDS
INCREASE NET CHANGE INCREASE
JULY 2023 JUNE 2023 (DECREASE) JULY 2022 NET CHANGE %
(DECREASE)
Orange County Investment Pool (OCIP)
End Of Month Market Value 5,630,393,375 5,862,622,195 (232,228,820) -3.96% 5,340,065,651 290,327,724 5.44% End Of Month Book Value' 5,682,084,279 5,920,645,669 (238,561,390) 4.03% 5,419,591,273 262,493,006 4.84% Monthly Average Balance 5,744,919,482 6,054,918,614 (309,999,132) -5.12% 5,754,930,417 60 (10,010,935) -0.17% Year-To-Date Average Balance 5,744,919,482 6,226,390,631 (481,471,149) -7.73% 5,754,930,417 (10,010,935) -0.17% Monthly Accrued Earnings? 18,671,196 18,716,256 (45,060) -0.24% 4,244,697 14,426,499 339.87% Monthly Net Yield 3.756% 3.732% 0.024% 0.65% 0.793% 2.963% 373.68% Year-To-Date Net Yield' 3.756% 2.553% 1.204% 47.15% 0.793% 2.963% 373.68% Annual Estimated Gross Yield 2.500% 2.592% -0.092% -3.56% 2.592% -0.092% -3.56% Weighted Average Maturity (WAM)S 236 225 11 4.75% 274 (38) -13.98% Orange County Educational Investment Pool (OCEIP)
End Of Month Market Value!? 8,447,929,617 8,736,272,278 (288,342,681) -3.30% 6,341,935,303 2,105,994,314 33.21% End Of Month Book Value!? 8,526,562,881 8,823,904,674 (297,341,793) -3.37% 6,438,524,757 2,088,038,124 32.43% Monthly Average Balance? 8,525,172,301 8,445,179,604 79,992,697 0.95% 6,525,851,556 1,999,320,745 30.64% Year-To-Date Average Balance? 8,525,172,301 7,330,357,038 1,194,815,263 16.30% 6,525,851,556 1,999,320,745 30.64% Monthly Accrued Earnings? 27,843,303 26,170,639 1,672,664 6.39% 4,811,021 23,032,282 478.74% Monthiy Net Yield? 3.756% 3.732% 0.024% 0.65% 0.798% 2.958% 370.71% Year-To-Date Net Yield' 3.756% 2.596% 1.160% 44.68% 0.798% 2.958% 370.71% Annual Estimated Gross Yield* 2.500% 2.635% -0.135% -5.11% 2.635% -0.135% -5.11% Weighted Average Maturity (WAM)" 236 225 11 4.75% 280 (44) -15.83% * Sister lasty met preced can low ne Trust. Markot values for OCIP and OCEIP are lower than book values. Shon-term rates nave isen sharpy this past year causing the make alues on these pools to be sighly below book values The OCIP and OCEP have 2 The OCEIP End of Month Market Value, End of Month Book Velue, Monthly Average Balance and Year-To-Date Average Balance are higher than the prior year and the OCEIP Year-To-Date Average Balance is higher than the prior month due primanly due to funding tor new District programs by federal and state governments
3 entic ported acing ne Moniy No: Yelds are inhe an is pro eat, and no and to Date it old or a an her and a yet a in ae are me a it an a a lae a am as by 7 ice ly 22 e CEl 4 The OCIP and OCEIP Annual Estimated Gross Yields are higher than the prior year due to continued higher yelds from shor-term rate increases The OCIP and OCEIP Annual Estimaled Gross Yields for July 2022 are reported at the actual annual gross yolds for FY 22-23. 5 The OCIP and OCEIP WAM decreased from the prior year due to shorter term purchases in a rising interest rate environment
ORANGE COUNTY TREASURER-TAX COLLECTOR
ORANGE COUNTY INVESTMENT FUND (OCIF)
ORANGE COUNTY TREASURER'S POOL (OCTP) AND SPECIFIC INVESTMENT ACCOUNTS 1) FOR THE MONTH ENDED: July 31, 2023
OCTR INVESTMENT STATISTICS - By Reporting Entity!"
Average Days to Maturity Dally Yield as of 7/31/2023 MONTHLY Gross Yield Current NAV
DESCRIPTION CURRENT BALANCES
MARKET Value S 14,078,322,992
236 3.888% 3.806% 0.990g(2)
COST (Capital) $ 14,109,821,371
Orange County Treasurer's Pool (OCTP)
MONTHLY AVG Balance $ 14,270,091,783
BOOK Value S 14,208,647,160
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 $ 560,495,724 PP-CEO 506,166,212 510,106,864 0.9923 Fountaln Valley School District Fund 40 (FVSD) COST (Capital) $ 556,774,440 FVSD 32,390,531 33,793,530 0.9585 CCCD Series 2017E Bonds (CCCD) MONTHLY AVG Balance S 556,763,184 CCCD 21,938,981 23,287,631 0.9421 BOOK Value $ 567,188,025
OCIF TOTALS
INVESTMENTS YEAR-TO-DATE EARNINGS
LOCIP 5,642,849,545 OCIP 18,671,196
8,466,971,826 OCEIP 27,843,303
OCEIP •
Specific Investment 556,774,440
Cash 32,348,113
Total OCT Year-To-Date Earnings 46.514,499
Total Assets in the County Treasury 14,698,943,924
KEY POOL STATISTICS
INTEREST RATE YIELD WEIGHTED AVERAGE MATURITY (WAM)
OCTP - YTD NET YIELD 3.756% OCTP 236
30-DAY T-BILL YIELD - MONTHLY AVERAGE 5,397% LGIP (Standard & Poors) 30 (1) Reported in compliance with Government Code Section 53646 (bX1), with 2023 IPS requiring at least quarterly reporting per Government Code Section 53646 (d).
EaTene to at ali bok later. The CT;, PACED, VSD, and CD have sutient kaputiy to me protected at low see market values on OCTP, P CEO, FVSD, and CD to 8 ORANGE COUNTY TREASURER - TAX COLLECTOR
OCT INVESTMENT TYPE AND CREDIT QUALITY BY MARKET VALUE PERCENT July 31, 2023
Security Type Credit Quality
100% 0.52% 100% 052%
8.34%
90% 90%
80% 1201 80%
70% 70%
60% 60%
50% 99.48%
40% 40%
30% 30%
20% 20%
10% 10%
0%
• U.S. GOVERNMENT AGENCIES = U.S. TREASURIES • US Government ENR
MONEY MARKET MUTUAL FUNDS e LOCAL AGENCY INVESTMENT FUND Orange County Treasurer's Pool Orange County Treasurer's Pool Investment Type by Market Value - (%) Credity Quality by Market Value (%) In Thousands In Thousands
U.S. GOVERNMENT AGENCIES 10,255,099 72.84% 14,005,023 99.48% 2,576,308 18.30% MUS GOVERNMENT 73.300
U.S. TREASURIES 0.52%
MONEY MARKET MUTUAL FUNDS 1,173,616 8.34% 14.078.323 100.00% LOCAL AGENCY INVESTMENT FUND 73.300 0.52%
14.078.323 100.00%
18864
00--M -UC-UU -213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 2023
MARKET VALUE SUMMARY
Change: -1,698,648.04
Beginning Market Value $59,703,083.70 $70,000,000
Taxable Interest 74,973.46 $60,000,000
Cash Disbursements -1,800,000.00 $50,000,000
Short Term Gains/Losses 31,087.50 $40,000,000
Change in Investment Value 4,709.00 $30,000,000
Ending Market Value $58,004,435.66 $20,000,000
$10,000,000
Beginning Ending
$59,703,083.70 $58,004,435.66
18864
00- -M -UC-UU -213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 2023
ASSET SUMMARY
Current Period % of Estimated
Assets Market Value Total Annual Income
Cash & Equiv
$5,332,425.91
Cash & Equivalents 5,332,425.91 9.20 277,987.31
Taxable Bonds 52,672,009.75 90.80 1,164,725.00
Total Market Value $58,004,435.66 100.00 $1,442,712.31
Taxable Bonds
$52,672,009.75
11 Fixed Income Summary
Corporate Issues
$1,460,275.00
US Government Issues
$51.211.734.75
12 $74,973.46 Total Current Period Income
74,973.46 Taxable Interest
Current Period
Income Received
INCOME SUMMARY
July 1, 2023 to July 31, 2023 ACCOUNT NUMBER:
CITY OF LAGUNA NIGUEL
usbank
0220-5-0-04007-04
18864
$0.00 Ending Cash 07/31/2023
728,786.54 Net Money Market Activity
3,500,000.00 Sales
-2,503,760.00 Purchases
-1,800,000.00 Cash Disbursements
74,973.46 Taxable Interest
$0.00 Beginning Cash 07/01/2023
Cash
CASH SUMMARY
July 1, 2023 to July 31, 2023 ACCOUNT NUMBER:
CITY OF LAGUNA NIGUEL
usbank
D0220657-000-207-04
18864
18864
00--M -UC-UU -213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 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
5,332,425.910 1.0000 5,332,425.91 5,332,425.91 0.00 9.2 277,987.31 5.21 Total Cash/Money Market $5,332,425.91 $5,332,425.91 $0.00 9.2 $277,987.31 Total Cash & Equivalents $5,332,425.91 $5,332,425.91 $0.00 9.2 $277,987.31 Taxable Bonds
US Government Issues
FHLMC - 3137EAEPO
1.500 02/12/2025
4,000,000,000 94.7190 3,788,760.00 4,188,112.71 -399,352.71 6.5 60,000.00 1.58 FHLMC MTN - 3134GV5R5
0.570 07/15/2024
1,000,000.000 95.2950 952,950.00 1,000,000.00 -47,050.00 1.6 5,700.00 0.60 FNMA - 3135G05X7
0.375 08/25/2025
8,700,000.000 91.1830 7,932,921.00 8,645,922.29 -713,001.29 13.7 32,625.00 0.41 Federal Farm Credit Bks - 3133ENVD9
2.875 04/26/2027
4,000,000.000 94.4660 3.778,640.00 3,995,360.00 -216,720.00 6.5 115,000.00 3.04 Federal Home Loan Bks - 3130AJTX7
0.720 07/21/2025
625,000.000 92.0430 575,268.75 625,000.00 -49,731.25 1.0 4,500.00 0.78 18864
00--M -UC-UU -213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 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 92.1360 921,360.00 1,000,000.00 -78,640.00 1.6 7,400.00 0.80 Federal Home Loan Bks - 3130AMFS6
2,000,000.000 89.2590 1,785,180,00 2,001,415.36 -216,235.36 3.1 15,000.00 0.84 Federal Home Loan Bks - 3130A8XY4
1.875 09/11/2026
4,500,000.000 92.1490 4,146,705.00 4,665,690.00 -518,985.00 7.1 84,375.00 2.03 Federal Home Loan Bks - 3130ATBLO
3.625 12/08/2023
4,000,000.000 99.3090 3,972,360.00 3,991,360.00 -19,000.00 6.8 145,000.00 3.65 Federal Home Loan Bks - 3130AWC24
4.000 06/09/2028
2,000,000.000 98.6860 1,973,720.00 2,006,180.00 -32,460.00 3.4 80,000.00 4.05 Federal Home Loan Bks - 3130AWLY4
5.125 06/13/2025
1,000,000.000 100.1450 1,001,450.00 1,004,010.00 -2,560.00 1.7 51,250.00 5.12 U S Treasury Bond - 912810EV6
6.875 08/15/2025
2,000,000.000 103.8520 2,077,040.00 2,104,000.00 -26,960.00 3.6 137,500.00 6.62 U S Treasury Note - 9128282D1
1.375 08/31/2023
2,500,000.000 99.6750 2,491,875.00 2,475,325.00 16,550.00 4.3 34,375.00 1.38 U S Treasury Note - 912828T26
1.375 09/30/2023
3,000,000.000 99.3480 2,980,440.00 2,954,430.00 26,010.00 5.1 41,250.00 1.38 U S Treasury Note - 912828T91
1.625 10/31/2023
2,500,000.000 99.1060 2,477,650.00 2,461,250.00 16,400.00 4.3 40,625.00 1.64 18864
00--M -UC-UU -213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 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 U S Treasury Note - 912828U57
2.125 11/30/2023
2,500,000.000 98.9180 2,472,950.00 2,469,100.00 3,850.00 4.3 53,125.00 2.15 U S Treasury Note - 912828V23
2250 12/31/2023
3,000,000.000 98.7030 2,961,090.00 2,953,290.00 7,800.00 5.1 67,500.00 2.28 U S Treasury Note - 9128286G0
2.375 02/29/2024
2,500,000.000 98.2810 2,457,025.00 2,459,075.00 -2,050.00 4.2 59,375.00 242 U S Treasury Note - 912828529
2.500 01/31/2024
2,500,000.000 98.5740 2,464,350.00 2,460,150.00 4,200.00 4.2 62,500.00 2.54 Total US Government Issues $51,211,734.75 $53,459,670.36 -$2,247,935.61 88.3 $1,097,100.00 Corporate Issues
Bank Five Nine Oconomowoc Wis - 062119CD2
4.500 07/28/2028
250,000.000 96.9310 242,327.50 250,000.00 -7,672.50 0.4 11,250.00 4.64 Bmw Bk North Amer Salt Lake City - 05580AY24
4.400 04/14/2028
250,000.000 96.8210 242,052.50 249,875.00 -7,822.50 0.4 11.000.00 4.54 Centier Bk Whitting Ind - 15140RCY3
4.700 07/26/2027
250,000.000 98.5960 246,490.00 250,000.00 0.4 11,750.00 4.77 Comenity Cap Bk Draper - 20033A4J2
4.450 07/26/2028
250,000.000 96.7170 241,792.50 250,000.00 -8,207.50 0.4 11,125.00 4.60 18864
00--M -UC-UU -213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 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 Discover Bk Greenwood Del - 2546733V6
4.400 04/17/2028
250,000.000 96.8070 242,017.50 249,875.00 -7,857.50 0.4 11,000.00 4.54 State Bk India Chicago III - 8562834C7
4.600 08/02/2027
250,000.000 98.2380 245,595.00 250,000.00 -4,405.00 0.4 11,500.00 4.68 Total Corporate Issues $1,460,275.00 $1,499,750.00 -$39,475.00 2.5 $67,625.00 Total Taxable Bonds $52,672,009.75 $54,959,420.36 -$2,287,410.61 90.8 $1,164,725.00 Total Assets $58,004,435.66 $60,291,846.27 -$2,287,410.61 100.0 $1,442,712.31 Estimated Current Yield 2.48
ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request. holy no repent he and fate and by cemeters and frey intern greate plat your eat end any ar l the freaking investmen, rain, or a decision. The estimaies 18864
00--M -UC-UU -213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 2023
TRANSACTION DETAIL
Date
Posted Activity Description Cash Tax Cost
Beginning Balance 07/01/2023 $0.00 $61,985,785.31
07/03/23 Asset Income Interest Earned On 20,759.22
Interes From 8023 To 6/30/23
07/07/23 Cash Disbursement Cash Disbursement -800,000.00 ACH Transter To CheckiNguel Checking
Per Ins Dtd 07/06/2023
07/11/23 Cash Disbursement Cash Disbursement -1,000,000.00 Paid To City Of Laguna Niguel
ACH Transfer To Checking
07/14/23 Asset Income Interest Earned On 3,700.00
FHLB Deb 0.740% 7/14/25
0.0037 USD/$1 Pv On 1,000,000 Par Value Due 7/14/23
07/17/23 Asset Income Interest Earned On 2,850.00
FHLMCMT N 0.570% 7/15/24
0.00285 USD/S1 Pv On 1,000,000 Par Value Due 7/15/23
07/18/23 Purchase Purchased 250,000 Par Value Of -249,875.00 249,875.00 Discover Bk C D 4.400% 4/17/28
Trade Date 7/14/23
Purchased Through Cantor Fitzgerald & Co.
Purchased On The OTC Bulletin Board
250,000 Par Value At 99.95 %
07/18/23 Purchase Accrued Interest Pald Accrued Interest On Purchase Of -2,712.33 Discover Bk C D 4.400% 4/17/28
Income Debit 2.712.33-USD
07/18/23 Purchase Purchased 250,000 Par Value Of -249,875.00 249,875.00 Bmw Bk North C D 4.400% 4/14/28
Trade Date 7/14/23
Purchased Through Cantor Fitzgerald & Co.
Purchased On The OTC Bulletin Board
250,000 Par Value At 99.95 %
07/18/23 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -2,863.01 Bmw Bk North C D 4.400% 4/14/28
Income Debit 2,863.01-USD
18864
00--M -UC-UU -213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 2023
TRANSACTION DETAIL (continued)
Date
Posted Activity Description Cash Tax Cost
07/21/23 Asset Income THIL B Deb 0.720% 712125 2,250.00
0.0036 USD/$1 Pv On 625,000 Par Value Due 7/21/22
07/25/23 Purchase Purchased 250,000 Par Value Of -250,000.00 250,000.00 Centier Bk C D 4.700% 7/26/27
Purchased To The OT Bullin Boar& Co.
250,000 Par Value At 100%
07/25/23 Purchase Purchased 1,000,000 Par Value Of -1,004,010.00 1,004,010.00 F H L B Deb 5.125% 6/13/25
Trade Date 7/24/23
Purchased Through Cantor Fitzgerald & Co.
1,000,000 Par Value At 100.401 %
07/25/23 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -2,135.42 FH L B Deb 5.125% 6/13/25
Income Debit 2,135.42- USD
07/26/23 Purchase Pumanity ap BC 4 430% 7126/28 -250,000.00 250,000.00 Trade Date 7/18/23
Purchased Through Cantor Fitzgerald & Co.
Purchased On The OTC Bulletin Board
250,000 Par Value Al 100%
07/28/23 Purchase -250,000.00 250,000.00
Pank Five he CD 4.50% 712828
Purchased Through Cantor Figerat a Co.
Purchased On The OTC Bulletin Board
250,000 Par Value At 100%
07/31/23 Purchase Purchased 250,000 Par Value Of -250,000.00 250,000.00 State Bk India C D 4.600% 8/02/27
Trade Date 7/26/23
Purchased Through Cantor Fitzgerald & Co.
Purchased On The OTC Bulletin Board
250,000 Par Value At 100%
18864
00--M -UC-UU-213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 2023
TRANSACTION DETAIL (continued)
Date
Posted Activity Description Cash Tax Cost
07/31/23 Sale Matured 3,500,000 Par Value Of 3,500,000.00 -3,468,912.50 U S Treasury Nt 1.250% 7/31/23
Trade Date 7/31/23
3,500,000 Par Value At 100%
07/31/23 Asset Income US Treasury N 1.20% 713123 21,875.00
0.00625 USD/$1 Pv On 3,500,000 Par Value Due 7/31/23
07/31/23 Asset Income 31,250.00
Lite a 230% 1310 a Vale Due 78123
Purchase Combined Purchases For The Period 7/1/23 - 7/31/23 Of -3,332,684.22 3,332,684.22 Sale Combined Sales For The Period 7/ 1/23 - 7/31/23 OF 4,061,470.76 -4,061,470.76 First Am Treas Ob Fd CIZ
Ending Balance 07/31/2023 $0.00 $60,291,846.27
18864
00--M -UC-UU -213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 2023
SALE/MATURITY SUMMARY
Settlement Estimated
Date Description Tax Cost Proceeds Gain/Loss
Taxable Bonds
US Treasury Note
1.250 07/31/2023
912828592
07/31/23 Matured 3,500,000 -3,468,912.50 3,500,000.00 31,087.50 Par Value
Trade Date 7/31/23
3,500,000 Par Value At 100%
Total Taxable Bonds -$3,468,912.50 $3,500,000.00 $31,087.50 Total Sales & Maturities -$3,468,912.50 $3,500,000.00 $31,087.50
SALE/MATURITY SUMMARY MESSAGES
Estimated Year-To-Date Short-Term Gain (Loss): $47,485.62 Estimates should not be used for tax purposes
18864
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0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 2023
BOND SUMMARY
50% /
40%
30%
20%
10%
0%
2023 2024 2025 2026 2027 2028
Percentage of
Par Value Market Value Category
MATURITY
2023 17,500,000.00 17,356,365.00 32.96
2024 6,000,000.00 5,874,325.00 11.16
2025 17,325,000.00 16,296,799.75 30.94
2026 6,500,000.00 5,931,885.00 11.26
2027 4,500,000.00 4,270,725.00 8.10
2028 3,000,000.00 2,941,910.00 5.58
Total of Category $54,825,000.00 $52,672,009.75 100.00
MOODY'S RATING
Aaa 52,325,000.00 50,258,784.75 95.42
A/A 1,250,000.00 1,195,277.50 2.27
NOT RATED 1,250,000.00 1,217,947.50 2.31
Total of Category $54,825,000.00 $52,672,009.75 100.00
18864
00--M -UC-UU -213-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: July 1, 2023 to July 31, 2023
BOND SUMMARY (continued)
Percentage of
Par Value Market Value Category
S&P RATING
AA+ 31,825,000.00 29,876,364.75 56.72
N/A 21,500,000.00 21,335,370.00 40.51
NOT RATED 1,500,000.00 1,460,275.00 2.77
Total of Category $54,825,000.00 $52,672,009.75 100.00
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 7/1/2023 to 7/31/2023 Tamara Letourneau
City Manager
City of Laguna Niguel
30111 Crown Valley Parkway
Laguna Niguel, CA 92677
Account Summary
Balance as of Balance as of
7/1/2023 Contributions Earnings Expenses Distributions Transfers 7/31/2023 Source
PENSION S2,004,472.28 $0.00 S26,409.36 S960 54 $0.00 50.00 $2,029.921,10 Totals S2,004,472.28 $0.00 S26,409.36 $960.54 $0.00 50.00 S2,029,921.10 Investment Selection
Source
PENSION Moderately Conservative HighMark PLUS
Investment Objective
Source
The dual goals of the Moderately Conservative Strategy are current income and moderate capital appreciation. The major portion of the assets is PENSION committed to income-producing securities. Market fluctuations should be expected Investment Return
La-Years Plan's Inception Date
Source 1-Month 3-Months 1-Year
PENSION 132% 240% 247% 148%
Informauon as provided by US Bank. Trusiee 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 relums Information is deemed rehable but may be subject to change Investment Retum Annualized rate of retum is the retum 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 Administrauon. Trustee and Investment Management fees Headquarters - 4350 Von Karman Ave, Suite 100, Newport Beach, CA 92660 800540 6369 Fax 949 250 1250 24