CITY OF LAGUNA NIGUEL
CITY COUNCIL AGENDA ITEM
To: Honorable Mayor and Council Members
FROM: Tamara S. Letourneau, City Manager
DATE: June 3, 2025
SUBJECT: Investment Report as of April 30, 2025
RECOMMENDATION
Staff recommends that the City Council receive and file the City of Laguna Niguel Investment Report as of April 30, 2025.
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 Federal Open Market Committee (FOMC) left the Federal Funds rate unchanged at the May meeting, with rates remaining at 4.25%-4.50%. The Committee cited uncertainty in the economy and the economic outlook as part of their reasoning to leave rates as is.
Fed Chair Jerome Powell repeated the phrase "wait and see" during his press conference as the FOMC wants to observe more economic data and the impact of the current tariffs.
In light of these updates, the CME Fed Watch tool (included on the next page) is projecting the next rate cut will occur at the September 2025 FOMC meeting and is projecting two cuts this year.
With $13.3 million in securities maturing before the next projected rate cut, the City's portfolio continues to be in a strong position, and regardless of where the interest rates move, the average weighted yield will increase dramatically over these next few months.
18 tun25J0JU3S 17Sepzs 290c135 10Dee2s 28Jam26)354628 29A026 354628 29402670252012810528280026 90e26|
MEETING INFORMATION
MEETING DATE CONTRACT EXPIRES MO PRICE
17 Sep 2025 ZQUS 30 Sep 2025 958025
Target Rale Probabrities for 17 Sep 2025 Fed Meeling
Current target rate is 425-450
100%
so%
60%
50.6%
Probablity
40%
34.7%
20%
14.1%
0.7%
425-450
350-375 375-400 300-525
Target Rate in bpsi
Additionally, the City has strategically taken advantage of these increased yields by purchasing ten-year U.S. Treasuries in the Emergency Reserve. With $14.5 million invested at an average yield of 4.30% for ten years, those investments will greatly benefit the City over that timespan. As can be seen in the graphic below, the City staggered the maturities of those purchases over the 6-10 year range in a similar way that the investments have been staggered from 1-5 years. This ensures the City will have sufficient liquidity, while generating higher returns.
BOND SUMMARY
40% I
32%
24%
16%
8%
0%
2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
2039
The following table compares the portfolio balance as of April 2025 to March 2025.
Portfolio Balance March 2025 April 2025 Difference
Balance $61,577,250 $65,436,454 $3,859,204
Over the past month, the City's total cash and investments experienced a net increase of $3,859,204. This increase is primarily due to the City receiving a large share of property tax allotments from the County. • The percentage of pooled investments in the Local Agency Investment Fund (LAIF) decreased to 0.16%.
• The average weighted maturity of City investments, including investment pools and money market funds, increased to 1,259 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 decreased from 4.313% to 4.281%. This represents the eighth consecutive month the LAIF yield has decreased. The net yield for the First American money market funds in the City's custodian account remained at 4.220%. The Fed Funds rate and the LAIF/PMIA rate are nearly even, and on a downward trend.
Average Monthly Yield Comparison - 04/2020 through 04/2025
6.00%
5.00% -PMIA
4.00% - S&P
3.00% - -- • Fed Funds
2.00%
1.00%
0.00%
S&P GIP 4.500%
10/2020 10/2022 1/2023 4/2023 1/2024 Fed Funds 4.310%
• The average weighted yield of City investments, including investment pools and money market funds, increased from 3.220% to 3.264%. The increase is mostly due to an increase in the size of the portfolio. The recent influx of cash due to the property tax receipts are being stored in the money market account, which is still generating high returns at 4.220%. The City's average weighted yield of City investments, including investment pools and money market funds, 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 Weighted 5-Year 1-Year 6-Month LAIF
Yield Treasury Treasury Treasury
3.264% 3.720% 3.850% 4.190% 4.281%
The monthly Investment Report as of April 30, 2025, is attached.
ALTERNATIVES CONSIDERED
The City Council can choose not to receive and file the City of Laguna Niguel Investment Report as of April 30, 2025.
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 & Retousuau In Am
Tamara S. Letourneau Trevor Agrelius
City Manager Finance Director
Attachment:
A. Monthly Investment Report as of April 30, 2025
ATTACHMENT A
Investment Report as of April 30, 2025
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
as of
April 30, 2025
amara S. Letournea
ITY MANAGEI
Trevor Agrelius
FINANCE DIRECTOR
June 30, 2025
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
US Bank Statement 6-21
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, 2025, the City was in compliance with the Investment Policy adopted at the June 4, 2024, 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.
Jamasa & Retowneau
Tamara S. Letourneau Trevor Agrelius
City Manager Finance Director
City of Laguna Niguel
Summary of Cash and Investments
4/30/2025
Settlement Maturity Coupon Purchased Percent of Max Allowed Per Market Anticipated total Description Date Date Rate Yield Cost Portfalia Investment Policy Value Interest earned Petty Cash/Change Drawers 2,500.00 0.00% N/A 2,500.00
US Bank Checking & Investment Accounts 3.938% 3,716,478.48 5.68% N/A 3,716,478,48 S Bank Money Marke 4.220% 602,772,43 0.92% 10.00% 602,772.43 ocal Agency Investment Fur 4.281% 107,800.05 0.16% >$40 million or 55% 107,800.05
39.81% N/A
912810EV6 6/22/2023 8/15/2025 6.875% 4.311% 2,104,000.00 2,016,720.00 195,074.52 91282CJK8 11/30/2023 11/15/2026 4.625% 4.310% 1,008,640.00 1,013,440.00 128,749.72 91282CIAO 11/10/2023 9/30/2028 4.625% 4.500% 1,005,380.00 1,032,150,00 221,376.41 91282CJN2 12/8/2023 11/30/2028 4,375% 4.020% 2,031,720.00 2,048,980.00 407,033,11 91282CHD6 4/12/2024 3/31/2029 4.250% 4.500% 1,475,175.00 1,525,200.00 329,913.80 91282CFJ5 10/24/2024 8/31/2029 3.125% 4.000% 961,730.00 977,770.00 186,760.06 91282CLN9 11/6/2024 9/30/2029 3,500% 4.310% 970,990.00 992,310.00 205,120.71 12/20/2024 11/30/2029 4.125% 4.330% 990,940.00 1,018,160.00 212,304,96 1/13/2025 12/31/2029 4.375% 4.470% 995,790.00 1,028,440.00 221,095.66 4/24/2025 12/31/2031 4.500% 4.075% 1,024,620.00 1,034,180.00 279,346.50 91282CFV8 4/11/2025 11/15/2032 4.125% 4.126% 1,999,870.00 2,019,680.00 627,306.89 91282CJJ1 1/7/2025 11/15/2033 4.500% 4.530% 1,496,655.00 1,546,050.00 600,713.03 91282СKQ3 1/13/2025 5/15/2034 4.375% 4.660% 978,560.00 1,019,140.00 425,899.88 91282CLF6 10/9/2024 8/15/2034 3.875% 4.079% 1,955,400.00 1,959,060.00 786,025.96 g 12/20/2024 11/30/2034 4.250% 4,349% 3,968,200.00 4,030,640.00 1,717,119.88 3/25/2025 2/15/2035 4.625% 4.275% 3,083,550.00 3,112,500.00 1,305,216.03
6.11% 30%
7/25/2023 4.700% 4.700% 250,000.00 253,165.00 47,064.38 15140RCY3 7/26/2027
8562834C7 7/31/2023 8/2/2027 4.600% 4.600% 250,000.00 252,657.50 46,094.52 15118RM38 12/8/2023 12/8/2027 4.600% 4.600% 250,000.00 253,085.00 46,031.51 33610RVD2 12/12/2023 12/10/2027 4.550% 4.550% 250,000.00 252,772,50 45,468.84 05580AY24 7/18/2023 4/14/2028 4.400% 4.408% 249,875.00 251,977.50 52,266.02 2546733V6 7/18/2023 4/17/2028 4.400% 4.408% 249,875.00 252,065.00 52,356.55 20033A4J2 7/26/2023 7/26/2028 4.450% 4.450% 250,000.00 252,557.50 55,685.96 062119CD2 7/28/2023 7/28/2028 4.500% 4.500% 250,000.00 252,940.00 56,311.64 02589AF64 11/1/2023 11/1/2028 5.000% 5.000% 250,000.00 257,027,50 62,568.49 87165E3V7 11/3/2023 11/3/2028 5.000% 5.000% 250,000.00 257,035.00 62,568.49
4.400% 4.400% 252,167.50 55.060.27
795451DH3 12/13/2023 12/13/2028 250,000.00
58404DTX9 12/22/2023 12/22/2028 4.300% 4.300% 250,000.00 251,415.00 32110YK46 12/28/2023 12/28/2028 4.300% 4.300% 250,000,00 251,415.00 848608FB6 1/31/2024 1/31/2029 3.950% 3.950% 250,000.00 248,370.00 903572GQ2 2/14/2024 2/14/2029 3.950% 3.950% 250,000.00 248,337.50 89235MPR6 6/28/2024 6/28/2029 4.500% 4.500% 250,000.00 253,240.00 age Association: 13.21% 25.00%
3135G05X7 1/29/2021 8/25/2025 0.375% 0.519% 8,645,922.29 8,593,077.00 nks: 16.82% 25.00%
3133EPYW9 10/20/2023 10/20/2025 5.125% 5.178% 999,000.00 1,003,600.00 3133ENVD9 4/26/2022 4/26/2027 2.875% 2.900% 3,995,360.00 3,940,520.00 3133EPH81 12/8/2023 10/4/2027 4.500% 4.150% 2,024,580.00 2,036,840.00 3133EPW84 1/30/2024 1/18/2029 3.875% 3.930% 2,493,800.00 2,504,475.00 3133EP3B9 2/26/2024 2/13/2029 4.125% 4.200% 1,494,975.00 1,515,465.00 nks: 17.27% 25.00%
3130AWLY4 7/25/2023 6/13/2025 5.125% 4.900% 1,004,010.00 1,000,790.00 8 A 3130AJTF6 7/14/2020 7/14/2025 0.740% 0.740% 1,000,000.00 992,680.00 3130AJTX7 7/21/2020 7/21/2025 0.720% 0.720% 625,000.00 619,918.75 3130AMFS6 8/12/2021 6/12/2026 0.750% 0.735% 2,001,415.36 1,933,960.00 3130A8XY4 10/18/2021 9/11/2026 1.875% 1.100% 4,665,690.00 4,388,175.00 24 6/23/2023 6/9/2028 4.000% 3.930% 2,006,180.00 2,022,760.00
47.31% 60.00%
Total City Investments Including Investment Pools 565,436.453.61 100.00% 3 65.396.459.21 $ 11,569.19411 Restricted for Specific Use
PARS 115 Pension Trust $ 2,000,000.00 20.00% $ 2,291,882.64 Average weighted maturity of Investments, excluding Investment Pools: 1,351 days Average weighted maturity of Investments, including Investment Pools and Money Market: 1,259 days Average weighted yield of Investments, excluding Investment Pools: 3.212% Average weighted yield of Investments, including Investment Pools and Money Market: 3.264% * Market value of City investments is provided by US Bank 2 5/1/25,9:44 AM LAIF Regular Monthly Statement
California State Treasurer
Fiona Ma, CPA
May 01, 2025
Local Agency Investment Fund
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 PARKWAY
LAGUNA NIGUEL, CA 92677
Tran Type Definitions
Account Number: 98-30-408
April 2025 Statement
Web
Effective Transaction Type Confirm Confirm
Date Date Number Number Authorized Caller Amount
4/15/2025 4/14/2025 ORD 1772388 N/A SYSTEM 1,175.00
Account Summary
Total Deposit: 1,175.00 Beginning Balance: 106,625.05
Total Withdrawal: 0.00 Ending Balance: 107,800.05
1/1
https://laifms.treasurer.ca.gov/RegularStatement.aspx
PMIA/LAIF Performance Report
as of 05/15/25
Quarterly Performance PMIA Average Monthly
Quarter Ended 3/31/25 Effective Yields(1)
LAIF Apportionment Rate 2): 4.48 April 4.281
LAIF Earnings Ratio 2). 0.00012266258268207 March 4.313 AIF Administrative Cost"* 0.26 February 4.333
AIF Fair Value Factor 2), 1.000849191 January 4.366
4.30 December 4.434
4.34 November 4.477
244
Pooled Money Investment Account
Monthly Portfolio Composition (1)
4/30/25
$172.8 billion
Corporate
Commercial Bonds
0.58%
Time 7.20%- Loans
Deposits 0.14%
3.06%
Certificates of
Deposit/Bank Notes.
9.49%
Treasuries
55.01%
Agencies o
24.52%
Chart does not include $1,113,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Daily rates are now available here. View PMIA Daily Rates *ere The nestermed ate lite end on present PEes upy de 2 lain layment pursuent to overnment code 20825 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:
12) State of California, Office of the Treasurer
12) State of California, Office of the Controller
State of California
Pooled Money Investment Account
Market Valuation
4/30/2025
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
Bills 49,107,213,295.06 $ 49,497,602,057.00 NA
Notes $ 45,926,350,095.62 $ 46,166,567,614.50 $ 422,503.427.00 Federal Agency:
SBA 227.042,403.14 $ 230,383.425.23 907,345.49
MBS-REMICs $ 1.113,080.88 $ 1,103,670.89 4,855.72
Debentures 6,975,930,283.48 $ 6,982,667,150.00 $ 49,164,750.00 Debentures FR $ $
Debentures CL 2.800.000,000.00 $ 2,815.766,800.00 $ 23.626,454.00 Discount Notes 28,785,585,652.62 $ 29,047,341,300.00 NA Supranational Debentures 3.581.343,624.15 $ 3,594,030,950.00 $ 24,923,316.30 Supranational Debentures FR - $ - $
CDs and YCDs FR $ $ - $ -
Bank Notes
CDs and YCDs 16.400,000.000.00 $ 16,397,375,754.69 $ 150,089,680.59 Commercial Paper 12,428,478,388.92 $ 12.522,662,694.38 NA Corporate:
Bonds FR $ $
Bonds 994,924,470.06 $ 992,875,622.00 $ 6.867.466.61
Repurchase Agreements $
Reverse Repurchase - $ -
Time Deposits $ 5,289,500,000.00 $ 5,289,500,000.00 NA
PMIA & GF Loans $ 240,472,000.00 $ 240,472,000.00 NA
TOTAL $ 172.757,953,293.93 $ 173.778,349,038.69 678.087,295.71 Fair Value Including Accrued Interest $ 174,456,436,334.40 Repurchase Agreements, Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 5 21004
0--M -UC-UU - 121-0
0220657-00-04007-0-
usbank
CITY OF LAGUNA NIGUEL Page 1 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025
MARKET VALUE SUMMARY
Current Period
04/01/25 to 04/30/25
Change: 3,923,760.96
Beginning Market Value $57,645,919.72 $70,000,000
Taxable Interest 99,023.71 $60,000,000
Cash Receipts 3,500,000.00 $50,000,000
Change in Investment Value 324,737.25 $40,000,000
$61,569,680.68 $30,000,000
Ending Market Value
$20,000,000
$10,000,000
$0
Beginning Ending
MV MV
$57,645,919.72 $61,569,680.68
21004
00- -M -UC-UU -121-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL Page 2 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025
ASSET SUMMARY
Current Period % of Estimated
Assets Market Value Total Annual Income
Cash & Equivalents 602,772.43 1.00 25,415.34
Taxable Bonds 60,966,908.25 99.00 2,024,775.00
Total Market Value $61,569,680.68 100.00 $2,050,190.34
Fixed Income Summary
Corporate Issues
$4.040,227.50
US Government Issues
$56,926,680.75
21004
00- -M -UC-UU -121-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL Page 3 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025
INCOME SUMMARY
Income Received
Current Period
Taxable Interest 99,023.71
Total Current Period Income $99,023.71
21004
0- -M -UC-UU -121-C
220657-00-04007-0
usbank
CITY OF LAGUNA NIGUEL Page 4 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025
CASH SUMMARY
Cash
Beginning Cash 04/01/2025 $0.00
Taxable Interest 99,023.71
Cash Receipts 3,500,000.00
Purchases -4,565,500.00
Sales 500,000.00
Net Money Market Activity 466,476.29
Ending Cash 04/30/2025 $0.00
21004
- -M -UC-UU -121-0
1220657-00-04007-0
usbank
CITY OF LAGUNA NIGUEL Page 5 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025
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
Fa Camerican Treasury Oblig - 31846V542
#3678
602,772.430 1.0000 602,772.43 602,772.43 0.00 1.0 25,415.34 4.22 Total Cash/Money Market $602,772.43 $602,772.43 $0.00 1.0 $25,415.34 Total Cash & Equivalents $602,772.43 $602,772.43 $0.00 1.0 $25,415.34 Taxable Bonds
US Government Issues
- N MA - 3135G05X:
).375 08/25/2025
8,700,000.000 98.7710 8,593,077.00 8,645,922.29 -52,845.29 14.0 32,625.00 0.38 -ederal Farm Credit Bks - 3133ENVD:
2.875 04/26/2027
4,000,000.000 98.5130 3,940,520.00 3,995,360.00 -54,840.00 6.4 115,000.00 2.92 Federal Farm Credit Bks - 3133EPW84
3.875 01/18/2029
2,500,000.000 100.1790 2,504,475.00 2,493,800.00 10,675.00 4.1 96,875.00 3.87 Federal Farm Credit Bks - 3133ЕP3B9
4.125 02/13/2029
1,500,000.000 101.0310 1,515,465.00 1,494,975.00 20,490.00 2.5 61,875.00 4.08 Federal Farm Credit Bks - 3133EPH81
4.500 10/04/2027
2,000,000.000 101.8420 2,036,840.00 2,024,580.00 12,260.00 3.3 90,000.00 4.42 10 21004
00200040204
usbank
CITY OF LAGUNA NIGUEL Page 6 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025 ASSET DETAIL (continued)
Security Description Percent
Unrealized of Total Estimater Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Incomi Current Yield Federal Farm Credit Bks - 3133EPYW9
5.125 10/20/2025
1,000,000.000 100.3600 1,003,600.00 999,000.00 4,600.00 1.6 51,250.00 5.11 Federal Home Loan Bks - 3130AJTX7
0.720 07/21/2025
625,000.000 99.1870 619,918.75 625,000.00 -5,081.25 1.0 4,500.00 0.73 Federal Home Loan Bks - 3130AJTF6
0.740 07/14/2025
1,000,000.000 99.2680 992,680.00 1,000,000.00 -7,320.00 1.6 7.400.00 0.74 Federal Home Loan Bks - 3130AMFS6
0.750 06/12/2026
2,000,000.000 96.6980 1,933,960.00 2,001,415.36 -67,455.36 3.1 15,000.00 0.78 Federal Home Loan Bks - 3130A8XY4
1.875 09/11/2026
4,500,000.000 97.5150 4,388,175.00 4,665,690.00 -277,515.00 7.1 84,375.00 1.92 Federal Home Loan Bks - 3130AWC24
4.000 06/09/2028
2,000,000.000 101.1380 2,022,760.00 2,006,180.00 16,580.00 3.3 80,000.00 3.95 Federal Home Loan Bks - 3130AWLY4
5.125 06/13/2025
1,000,000.000 100.0790 1,000,790.00 1,004,010.00 -3,220.00 1.6 51,250.00 5.12 U S Treasury Bond - 912810EV6
6.875 08/15/2025
2,000,000.000 100.8360 2,016,720.00 2,104,000.00 -87,280.00 3.3 137,500.00 6.82 US Treasury Note - 91282CMMO
02/15/2035
3,000,000.000 103.7500 3,112,500.00 3,083,550.00 28,950.00 5.1 138,750.00 4.46 U S Treasury Note - 91282CFJ5
3.125 08/31/2029
1,000,000.000 97.7770 977,770.00 961,730.00 16,040.00 1.6 31,250.00 3.20 11 21004
0--M -UC-UU -121-0.
220657-00-04007-0
usbank
CITY OF LAGUNA NIGUEL Page 7 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025 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 - 91282CLN9
3.500 09/30/2029
1,000,000.000 99.2310 992,310.00 970,990.00 21,320.00 1.6 35,000.00 3.53 U S Treasury Note - 91282CLF6
3.875 08/15/2034
2,000,000.000 97.9530 1,959,060.00 1,955,400.00 3,660.00 3.2 77,500.00 3.96 U S Treasury Note - 91282CKG5
4.125 03/31/2029
1,500,000.000 101.6800 1,525,200.00 1,475,175.00 50,025.00 2.5 61,875.00 4.06 U S Treasury Note - 91282CFV8
4.125 11/15/2032
2,000,000.000 100.9840 2,019,680.00 1,999,870.00 19,810.00 3.3 82,500.00 4.08 U S Treasury Note - 91282CMA6
4.125 11/30/2029
1,000,000.000 101.8160 1,018,160.00 990,940.00 27,220.00 1.7 41,250.00 4.05 U S Treasury Note - 91282CLW9
4.250 11/15/2034
4,000,000.000 100.7660 4,030,640.00 3,968,200.00 62,440.00 6.5 170,000.00 4.22 U S Treasury Note - 91282CKQ3
4.375 05/15/2034
1,000,000.000 101.9140 1,019,140.00 978,560.00 40,580.00 1.7 43,750.00 4.29 U S Treasury Note - 91282CJN2
4.375 11/30/2028
2,000,000.000 102.4490 2,048,980.00 2,031,720.00 17,260.00 3.3 87,500.00 4.27 U S Treasury Note - 91282CMDO
4.375 12/31/2029
1,000,000.000 102.8440 1,028,440.00 995,790.00 32,650.00 1.7 43,750.00 4.25 U S Treasury Note - 91282CJJ1
4.500 11/15/2033
1,500,000.000 103.0700 1,546,050.00 1,496,655.00 49,395.00 2.5 67,500.00 4.37 12 21004
D057-040-00
usbank
CITY OF LAGUNA NIGUEL Page 8 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025 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 - 91282CMC2
4.500 12/31/2031
1,000,000.000 103.4180 1,034,180.00 1,024,620.00 9,560.00 1.7 45,000.00 4.35 U S Treasury Note - 91282CJA0
4.625 09/30/2028
1,000,000.000 103.2150 1,032,150.00 1,005,380.00 26,770.00 1.7 46,250.00 4.48 U S Treasury Note - 91282CJK8
4.625 11/15/2026
1,000,000.000 101.3440 1,013,440.00 1,008,640.00 4,800.00 1.6 46,250.00 4.56 Total US Government Issues $56,926,680.75 $57,007,152.65 -$80,471.90 92.5 $1,845,775.00 Corporate Issues
C merican Express Nal BK - 025894F64
5.000 11/01/2028
250,000.000 102.8110 257,027.50 250,000.00 7,027.50 0.4 12,500.00 4.86 Bank Five Nine Oconomowoc Wis - 062119CD2
4.500 07/28/2028
250,000.000 101.1760 252,940.00 250,000.00 2,940.00 0.4 11,250.00 4.45 Bmw Bk North Amer Salt Lake City - 05580AY24
4.400 04/14/2028
250,000.000 100.7910 251,977.50 249,875.00 2,102.50 0.4 11,000.00 4.36 Celtic Bk Salt Lake City Utah - 15118RM38
4.600 12/08/2027
250,000.000 101.2340 253,085.00 250,000.00 3.085.00 0.4 11,500.00 4.54 Centier Bk Whitting Ind - 15140RCY3
4.700 07/26/2027
250,000.000 101.2660 253,165.00 13 250,000.00 3,165.00 0.4 11,750.00 4.64 21004
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CITY OF LAGUNA NIGUEL Page 9 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025 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 Comenity Cap Bk Draper - 20033A4J2
C D
4.450 07/26/2028
250,000.000 101.0230 252,557.50 250,000.00 2,557.50 0.4 11,125.00 4.40 Discover Bk Greenwood Del - 2546733V6
4.400 0411712028
250,000.000 100.8260 252,065.00 249,875.00 2,190.00 0.4 11,000.00 4.36 First Natl Bk Amer East Lans - 32110YK46
4.300 12/28/2028
250,000.000 100.5660 251,415.00 250,000.00 1,415.00 0.4 10,750.00 4.28 First Premier Bk Sioux Falls - 33610RVD2
4.550 12/10/2027
250,000.000 101.1090 252,772.50 250,000.00 2,772.50 0.4 11,375.00 4.50 Medallion Bk Utah - 58404DTX9
CD
4.300 12/22/2028
250,000.000 100.5660 251,415.00 250,000.00 1,415.00 0.4 10,750.00 4.28 Sallie Mae Bk Salt Lake City - 795451DH3
L.400 121312028
250,000.000 100.8670 252,167.50 250,000.00 2,167.50 0.4 11,000.00 4.36 Spiritbank Tulsa Okla - 848608FB6
3.950 01/31/2029
250,000.000 99.3480 248,370.00 250,000.00 -1,630.00 0.4 9,875.00 3.98 State Bk India Chicago III - 8562834C7
4.600 08/02/2027
250,000.000 101.0630 252,657.50 250,000.00 2,657.50 0.4 11,500.00 4.55 14 21004
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CITY OF LAGUNA NIGUEL Page 10 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025 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 Synchrony Bank CD - 87165E3V7
5.000 11/03/2028
250,000.000 102.8140 257,035.00 250,000.00 7,035.00 0.4 12,500.00 4.86 Coyota Fint Svas Bk Hend No - 89235MPR0
4.500 06/28/2029
250,000.000 101.2960 253,240.00 250,000.00 3,240.00 0.4 11,250.00 4.44 Uinta Bk Mtn View - 903572GQ2
3.950 02/14/2029
250,000.000 99.3350 248,337.50 250,000.00 -1,662.50 0.4 9,875.00 3.98 Total Corporate Issues $4,040,227.50 $3,999,750.00 $40,477.50 6.6 $179,000.00 Total Taxable Bonds $60,966,908.25 $61,006,902.65 -$39,994.40 99.0 $2,024,775.00 Total Assets $61,569,680.68 $61,609,675.08 -$39,994.40 100.0 $2,050,190.34 Estimated Current Yield 3.32
ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request. stimated Current Yield and Estimated Annual Income are estimates provided for informational purposes only and should not be relied on for making investment, trading, or tax decisions. The estimate ay not represent the actual value earned by your investments and they provide no guarantee of what your investments may earn in the futur 21004
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CITY OF LAGUNA NIGUEL Page 11 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025
TRANSACTION DETAIL
Date
Posted Activity Description Cash Tax Cost
Beginning Balance 04/01/2025 $0.00 $58,010,651.37
04/01/25 Asset Income Interest Earned On 7,799.56
irst Am Treas Ob Fd Cl
nterest From 3/1/25 To 3/31/2
04/04/25 Asset Income 45,000.00
04/08/25 Asset Income Interest Earned On 976.71
Celtic Bk C D 4.600% 12/08/27
0.003907 USD/$1 Pv On 250,000 Par Value Due 4/8/25
04/11/25 Purchase Purchased 1,000,000 Par Value Of -1,000,250.00 1,000,250.00 U S Treasury Nt 4.125% 11/15/32
urchased Through Cantor Fitzgerald & C
000,000 Par Value At 100.025
04/11/25 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -16,750.69 US Treasury Nt 4.125% 11/15/32
Income Debit 16,750.69-USD
04/14/25 Asset Income Interest Earned On 5,484.93
Bmw Bk North C D 4.400% 4/14/28
0.02194 USD/$1 Pv On 250,000 Par Value Due 4/14/25
04/14/25 Asset Income Interest Earned On 838.70
Uinta Bk Mtn C D 3.950% 2/14/29
0.003355 USD/$1 Pv On 250,000 Par Value Due 4/14/25
04/17/25 Cash Receipt Cash Receipt 3,500,000.00
Transfer From Checking
Per Ins Dtd 04/17/2025
04/21/25 Asset Income Interest Earned On 5,484.93
Discover Bk C D 4.400% 4/17/28
0.02194 USD/$1 Pv On 250,000 Par Value Due 4/19/25
04/21/25 Asset Income 25,625.00
16 21004
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CITY OF LAGUNA NIGUEL Page 12 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025 TRANSACTION DETAIL (continued)
Date
Posted Activity Description Cash Tax Cost
04/22/25 Asset Income 913.01
04/24/25 Purchase -1,541,010.00 1,541,010.00
04/24/25 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -13,031.77 US Treasury Nt 4.625% 2/15/35
Income Debit 13,031.77-USD
04/24/25 Purchase urchased 1,000,000 Par Value ( -999,620.00 999,620.00 S Treasury Nt 4.125% 11/15/3
rchased Through Cantor Fitzgerald & (
100,000 Par Value At 99.962
04/24/25 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -18,232.04 U S Treasury Nt 4.125% 11/15/32
Income Debit 18,232.04- USD
04/24/25 Purchase -1,024,620.00 1,024,620.00
Trade Date 4/23/25
irchased Through Cantor Fitzgerald & C
000,000 Par Value At 102.462
04/24/25 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -14,171.27 U S Treasury Nt 4.500% 12/31/31
Income Debit 14,171.27 - USD
04/24/25 Sale Matured 250,000 Par Value O 250,000.00 -250,000.00 Vells Fargo C D 5.500% 4/24/2
rade Date 4/24/2
50,000 Par Value At 100 %
04/24/25 Asset Income Interest Earned On 1,167.81
Wells Fargo C D 5.500% 4/24/25
0.004671 USD/$1 Pv On 250,000 Par Value Due 4/24/25
17 21004
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CITY OF LAGUNA NIGUEL Page 13 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025 TRANSACTION DETAIL (continued)
Date
Posted Activity Description Cash Tax Cost
04/28/25 Asset Income Interest Earned On 944.86
Comenity Cap Bk C D 4.450% 7/26/28
0.003779 USD/$1 Pv On 250,000 Par Value Due 4/26/25
04/28/25 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 4/26/25
04/28/25 Asset Income Interest Earned On 955.48
0,03522 USDS P4 On 250,00 Par Value Due 4128/25
04/28/25 Asset Income Interest Earned On 913.01
First Natl Bk C D 4.300% 12/28/28
0.003652 USD/$1 Pv On 250,000 Par Value Due 4/28/25
04/30/25 Sale Matured 250,000 Par Value Of 250,000.00 -250,000.00 Sofi Bk Natl C D 5.450% 4/30/25
Trade Date 4/30/25
250,000 Par Value At 100%
04/30/25 Asset Income Interest Earned On 6,793.84
Sofi Bk Natl C D 5.450% 4/30/25
0.027175 USD/$1 Pv On 250,000 Par Value Due 4/30/25
04/30/25 Asset Income Interest Earned On 811.64
Spiritbank Tulsa C D 3.950% 1/31/29
0.003247 USD/$1 Pv On 250,000 Par Value Due 4/30/25
Purchase -3,910,041.67 3,910,041.67
Sale Combined Sales For The Period 4/ 1/25 - 4/30/25 O1 4,376,517.96 -4,376,517.96 First Am Treas Ob Fd CIZ
Ending Balance 04/30/2025 $0.00 $61,609,675.08
18 21004
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CITY OF LAGUNA NIGUEL Page 14 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025
SALE/MATURITY SUMMARY
Settlement Estimated
Date Description Tax Cost Proceeds Gain/Loss
Taxable Bonds
Sof Bk Natl Assn Cottonwood H
5.450 04/30/2025
B3407DBPC
04/30/25 Matured 250,000 Par -250,000.00 250,000.00
Value
Trade Date 4/30/25
250,000 Par Value At 100%
Wells Fargo Bank Natl Assn
5.500 04/24/2025
949764GT5
04/24/25 Matured 250,000 Par -250,000.00 250,000.00
Value
Trade Date 4/24/25
250,000 Par Value At 100%
Total Taxable Bonds -$500,000.00 $500,000.00 $0.00
Total Sales & Maturities -$500,000.00 $500,000.00 $0.00
SALE/MATURITY SUMMARY MESSAGES
Estimated Year-To-Date Long-Term Gain (Loss): ($188,112.71) Estimates should not be used for tax purposes
19 21004
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ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025
BOND SUMMARY
40%/
32%
24%
16%
8%
0% -
2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
2039
Percentage of
Par Value Market Value Category
MATURITY
2025 14,325,000.00 14,226,785.75 23.34
2026 7,335,575.00 12.04
2027 6,989,040.00 11.47
2028 7,382,490.00 12.11
2029 10,311,767.50 16.92
2030 0.00
2031 1,034,180.00 1.69
2032 2,019,680.00 3.31
2033 1,546,050.00
2034 7,008,840.00
2035 - 2039 3,112,500.00
Total of Category $60,825,000.00 $60,966,908.25 100.00
MOODY'S RATING
Aaa 56,825,000.00 56,926,680.75 93.37
N/A 20 1,750,000.00 1,758,335.00 2.88
21004
0022057.004027-04
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CITY OF LAGUNA NIGUEL Page 16 of 16
ACCOUNT NUMBER: 6736304200 April 1, 2025 to April 30, 2025 BOND SUMMARY (continued)
ercentage of
Par Value Market Value Categon
NOT RATED 2,250,000.00 2,281,892.50 3.75
Total of Category $60,825,000.00 $60,966,908.25 100.00
S&P RATING
AA+ 30,825,000.00 30,552,260.75 50.11
N/A 6,000,000.0 26,374,420.00 43.26
NOT RATED ,000,000.00 4,040,227.50 6.63
Total of Category $60,825,000.00 $60,966,908.25 100.00
BOND SUMMARY MESSAGES
Data contained within this section excluded Mutual Funds, Exchange Traded Funds, and Closed-Ended Funds. 21 PARS PUBLIC AGENCY
• RETIREMENT SERVICES
CITY OF LAGUNA NIGUEL Account Report for the Period
PARS Post-Employment Benefits Trust 4/1/2025 4/30/2025
Tamara Letourneau
City Manager
ity of Laguna Nigue
30111 Crown Valley Parkwa
Laguna Niguel, CA 92677
Account Summary
Balance as o alance as
Source 1/1/2025 Contributions Earnings Expenses Distributions Transfers 130/20 PENSION $2.287.522.53 $0.00 $5,500.97 $1,140.86 $0.00 $0 00 $2.291,882 64 Totals S2.287.522.53 50.00 $5,500.97 $1,140.86 50.00 $0.00 S2.291.882.64 Investment Selection
Source
PENSION Moderate - Index
Investment Objective
Source
he dual goals of the Moderate Strategy are growth of principal and income It is expected that dividend and interest income will comprise a significant portior PENSION of total return, although growth through capital appreciation is equally important. The portfoli will be allocated between equity and fixed income investments Investment Return
Annualized Return
Source 1-Month 3-Months 1-Year 3-Ycars 5-Ycars 10-Years Plan's Inception Date PENSION 0.24% -1.39% 10.21% 5.32% 4.79% 5/26/2020
Information as provided by US Bank. Trustee for PARS Not FDIC Insured No Bank Guarantee May Lose Vaiue ast performance does not guarantee future results Performance returns may not reflect the deduction of applicacle fees, which could reduce returns Information is deemed reliable but may be subject to chang vestment Return Annualized rate of return is the retum on an investment over a period other than one year multiplied or divided to give a comparable one-year retur Account balances are inclusive of [rust Administration. Trustee and Investment Management fees Headquarters - 4350 Von Karman Ave. Suite 100, Newport Beach CA 92660 800 540 6369 Fax 949 2501250 www parsorg 22