City of Manhattan Beach
Finance Department
Investment Portfolio
September 2023
As Finance Director for the City of Manhattan Beach, I hereby certify that these investments are in compliance with the City’s investment policy (unless otherwise noted). Sufficient liquidity has been maintained to meet budget expenditure requirements for the current six month period.
CITY OF MANHATTAN BEACH
Portfolio Management
September 1, 2023 through September 30, 2023
Portfolio Summary
% of
Portfolio
Book
ValueInvestments
Market
Value
Par
Value
Days to
MaturityTerm
YTM
360 Equiv.
YTM
365 Equiv.
LAIF 34,330,173.93 127.87 3.486134,330,173.9334,330,173.93 3.534 Medium Term Notes 20,074,786.25 1,66016.29 3.4141,12119,478,380.0021,000,000.00 3.461 Federal Agency Issues - Coupon 28,758,474.33 1,42423.34 2.39666927,721,750.0029,000,000.00 2.429 Treasury Securities - Coupon 40,038,193.86 1,58432.50 1.93691237,707,270.0041,000,000.00 1.963 123,201,628.37 100.00%
Investments
119,237,573.93125,330,173.93 1,118 636 2.716 2.754
Cash
(not included in yield calculations)
Passbook/Checking 2,273,740.48 1 0.00012,273,740.482,273,740.48 0.000 125,475,368.85Total Cash and Investments 121,511,314.41127,603,914.41 1,118 636 2.716 2.754 Current Year
September 30
233,150.73
Fiscal Year To Date
722,883.96
Total Earnings Month Ending
__________________________________________________ ____________________ STEVE S. CHARELIAN, FINANCE DIRECTOR
Portfolio CITY
CP
Reporting period 09/01/2023-09/30/2023
Run Date: 10/23/2023 - 14:32 PM (PRF_PM1) 7.3.11
Report Ver. 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
September 30, 2023
Portfolio Details - Investments
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
LAIF
3.534Local Agency Invest. Fund3000 34,330,173.93 34,330,173.93 3.53407/01/2018 34,330,173.93SYS3000 1 34,330,173.9334,330,173.9334,330,173.93Subtotal and Average 3.534 1 Medium Term Notes
4.905APPLE INCMTN0112 1,000,000.00 926,410.29 09/12/20272.90010/25/2022 923,410.00 AA+037833DB3 1,442
4.171APPLE INCMTN0121 1,000,000.00 992,446.00 05/10/20284.00006/12/2023 960,210.00 AA+037833ET3 1,683
1.963AMAZON.COM LLCMTN0111 1,000,000.00 972,214.84 05/12/20261.00002/24/2022 899,090.00 AA023135BX3 954
4.282AMAZON.COM LLCMTN0116 1,000,000.00 955,654.78 08/22/20273.15002/09/2023 930,160.00 AA023135BC9 1,421
1.850BANK OF NY MELLOMTN0109 1,000,000.00 1,011,205.00 10/24/20242.10002/10/2020 960,830.00 A06406RAL1 389
4.410BANK OF NY MELLOMTN0118 1,000,000.00 959,059.91 01/29/20283.40004/14/2023 919,360.00 A06406RAF4 1,581
4.690COLGATE-PALM COMTN0123 2,000,000.00 1,992,460.00 03/01/20284.60007/10/2023 1,977,560.00 AA-194162AR4 1,613
3.743COSTCO COMPANIESMTN0117 1,000,000.00 908,947.14 06/20/20271.37504/14/2023 874,140.00 A+22160KAN5 1,358
3.765COSTCO COMPANIESMTN0119 1,000,000.00 907,900.21 06/20/20271.37504/18/2023 874,140.00 A+22160KAN5 1,358
1.977Walt DisneyMTN0107 2,000,000.00 1,994,901.64 08/30/20241.75012/12/2019 1,929,720.00 A-254687FK7 334
4.593Johnson & JohnsonMTN0113 1,000,000.00 863,285.17 09/01/20270.95010/25/2022 859,280.00 AAA478160CP7 1,431
3.880Johnson & JohnsonMTN0114 1,000,000.00 884,038.16 09/01/20270.95012/22/2022 859,280.00 AAA478160CP7 1,431
1.890COCA-COLA COMTN0108 1,000,000.00 993,679.00 09/06/20241.75012/12/2019 965,050.00 A+191216CL2 341
4.374COCA-COLA COMTN0124 1,000,000.00 851,830.00 03/15/20281.00007/10/2023 844,140.00 A+191216DD9 1,627
4.163MICROSOFT CORPMTN0115 1,000,000.00 970,825.17 02/06/20273.30012/22/2022 948,770.00 AAA594918BY9 1,224
0.950MERCK & CO INCMTN0110 1,000,000.00 991,420.00 02/24/20260.75010/05/2021 900,820.00 A+58933YAY1 877
4.210MERCK & CO INCMTN0120 1,000,000.00 992,917.00 05/17/20284.05006/12/2023 962,260.00 A+58933YBH7 1,690
2.634TOYOTA MOTOR CREDITMTN0101 1,000,000.00 998,875.96 10/18/20232.25003/26/2019 998,530.00 A+89236TDK8 17
4.183WALMART INCMTN0122 1,000,000.00 906,715.98 09/17/20261.05006/12/2023 891,630.00 AA931142ER0 1,082 20,074,786.2519,478,380.0021,000,000.00Subtotal and Average 3.461 1,121 Federal Agency Issues - Coupon
3.850FARMER MACFAC0304 1,000,000.00 1,000,000.00 02/14/20283.85002/14/2023 959,640.0031422XW99 1,597
1.870FED FARM CR BKFAC0294 1,000,000.00 997,642.00 08/22/20251.80002/24/2022 940,660.00 AA+3133ENPX2 691
2.747FED FARM CR BKFAC0296 2,000,000.00 2,029,510.43 03/22/20273.15004/11/2022 1,891,600.00 AA+3133EJDV8 1,268
2.625FED FARM CR BKFAC0297 2,000,000.00 2,000,000.00 05/16/20242.62505/16/2022 1,965,900.00 AA+3133ENWP1 228
3.250FED FARM CR BKFAC0301 1,000,000.00 967,981.64 11/18/20240.87506/17/2022 951,030.003133ENEJ5 414
4.550FED FARM CR BKFAC0303 1,000,000.00 998,356.00 07/27/20264.50010/27/2022 987,010.003133ENV72 1,030
1.771Federal Home Loan BankFAC0285 2,000,000.00 2,026,781.80 09/13/20242.87512/11/2019 1,951,140.003130A2UW4 348
1.470Federal Home Loan BankFAC0289 1,000,000.00 1,001,306.00 08/15/20241.50002/07/2020 966,260.00 AA+3130AGWK7 319
0.312Federal Home Loan BankFAC0291 1,000,000.00 1,025,351.96 06/14/20242.87502/04/2021 980,840.00 AA+3130A1XJ2 257
1.871Federal Home Loan BankFAC0293 1,000,000.00 995,852.00 09/12/20251.75002/24/2022 938,350.00 AA+3130A8ZQ9 712 Portfolio CITY
CP
Run Date: 10/23/2023 - 14:32 PM (PRF_PM2) 7.3.11
Report Ver. 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
September 30, 2023
Portfolio Details - Investments
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
Federal Agency Issues - Coupon
3.230Federal Home Loan BankFAC0300 1,000,000.00 990,620.00 06/28/20242.75006/17/2022 979,730.003130ASDS5 271
4.343Federal Home Loan BankFAC0302 1,000,000.00 901,096.77 06/12/20260.87510/24/2022 898,700.003130AN4T4 985
4.048Federal Home Loan BankFAC0306 1,000,000.00 965,172.65 03/12/20273.00006/12/2023 941,540.00 AA+3130A3DU5 1,258
4.483Federal Home Loan BankFAC0307 1,000,000.00 980,718.06 06/09/20284.00007/10/2023 971,180.00 AA+3130AWC24 1,713
2.722Federal Home Loan MortgageFAC0298 2,000,000.00 1,897,431.02 09/23/20250.37505/13/2022 1,823,520.00 AA+3137EAEX3 723
1.700Fannie MaeFAC0286 2,000,000.00 1,993,020.00 10/15/20241.62512/11/2019 1,922,940.00 AA+3135G0W66 380
1.500Fannie MaeFAC0287 2,000,000.00 2,011,260.00 10/15/20241.62502/07/2020 1,922,940.00 AA+3135G0W66 380
1.526Fannie MaeFAC0288 2,000,000.00 2,005,040.61 07/02/20241.75002/07/2020 1,944,720.00 AA+3135G0V75 275
0.259Fannie MaeFAC0290 1,000,000.00 1,015,308.35 07/02/20241.75002/04/2021 972,360.00 AA+3135G0V75 275
3.597Fannie MaeFAC0305 1,000,000.00 889,386.01 10/08/20270.75004/14/2023 855,130.003135G05Y5 1,468
1.763Tennessee Valley AuthorityFAC0295 1,000,000.00 980,242.45 05/15/20250.75002/24/2022 928,250.00 AA+880591EW8 592
2.894Tennessee Valley AuthorityFAC0299 1,000,000.00 1,086,396.58 11/01/20256.75005/13/2022 1,028,310.00 AA+880591CJ9 762 28,758,474.3327,721,750.0029,000,000.00Subtotal and Average 2.429 669 Treasury Securities - Coupon
2.234US TREASURYUST0033 1,000,000.00 995,039.06 02/29/20242.12505/13/2019 986,600.00912828W48 151
2.240US TREASURYUST0034 1,000,000.00 994,687.50 03/31/20242.12505/13/2019 983,630.00912828W71 182
1.493US TREASURYUST0035 2,000,000.00 2,009,523.10 08/31/20241.87502/07/2020 1,936,020.009128282U3 335
0.561US TREASURYUST0036 1,000,000.00 993,274.47 06/30/20250.25005/28/2021 919,060.00912828ZW3 638
0.591US TREASURYUST0039 1,000,000.00 993,084.36 06/30/20250.25008/11/2021 919,060.00912828ZW3 638
1.058US TREASURYUST0047 1,000,000.00 984,808.19 05/31/20250.25012/08/2021 922,110.00912828ZT0 608
1.001US TREASURYUST0051 1,000,000.00 1,003,906.25 02/28/20251.12512/09/2021 943,910.00912828ZC7 516
2.665US TREASURYUST0054 2,000,000.00 1,920,471.07 01/31/20271.50004/08/2022 1,800,780.00912828Z78 1,218
3.287US TREASURYUST0057 1,000,000.00 945,083.00 08/15/20261.50006/17/2022 911,520.009128282A7 1,049
3.285US TREASURYUST0059 1,000,000.00 966,695.38 05/15/20272.37509/01/2022 922,190.00912828X88 1,322
3.295US TREASURYUST0060 1,000,000.00 966,320.36 05/15/20272.37509/01/2022 922,190.00912828X88 1,322
3.241US TREASURYUST0062 1,000,000.00 896,912.72 06/30/20270.50009/01/2022 856,680.00912828ZV5 1,368
4.180US TREASURYUST0064 1,000,000.00 915,206.00 10/31/20261.62510/25/2022 909,920.00912828YQ7 1,126
3.747US TREASURYUST0066 1,000,000.00 939,566.28 08/15/20272.25002/09/2023 913,830.009128282R0 1,414
0.576US TREASURYUST0037 2,000,000.00 1,985,593.36 07/31/20250.25005/28/2021 1,831,260.0091282CAB7 669
0.620US TREASURYUST0038 1,000,000.00 991,661.58 08/31/20250.25005/28/2021 912,460.0091282CAJ0 700
0.601US TREASURYUST0040 1,000,000.00 992,747.50 07/31/20250.25008/11/2021 915,630.0091282CAB7 669
0.586US TREASURYUST0041 1,000,000.00 992,069.78 08/31/20250.25008/11/2021 912,460.0091282CAJ0 700
0.658US TREASURYUST0042 1,000,000.00 992,979.34 11/30/20250.37508/09/2021 906,060.0091282CAZ4 791
0.681US TREASURYUST0043 1,000,000.00 990,759.58 07/31/20250.25010/05/2021 915,630.0091282CAB7 669
0.707US TREASURYUST0044 2,000,000.00 1,976,901.44 10/31/20250.25010/05/2021 1,813,520.0091282CAT8 761 Portfolio CITY
CP
Run Date: 10/23/2023 - 14:32 PM (PRF_PM2) 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
September 30, 2023
Portfolio Details - Investments
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
Treasury Securities - Coupon
0.907US TREASURYUST0045 1,000,000.00 992,500.00 08/31/20260.75010/05/2021 890,510.0091282CCW9 1,065
0.892US TREASURYUST0046 1,000,000.00 991,732.72 07/31/20260.62510/05/2021 890,040.0091282CCP4 1,034
1.191US TREASURYUST0048 1,000,000.00 987,545.08 05/31/20260.75012/09/2021 898,090.0091282CCF6 973
1.176US TREASURYUST0049 1,000,000.00 990,513.58 06/30/20260.87512/09/2021 899,770.0091282CCJ8 1,003
1.210US TREASURYUST0050 1,000,000.00 989,148.45 09/30/20260.87512/09/2021 892,340.0091282CCZ2 1,095
1.678US TREASURYUST0052 2,000,000.00 1,931,563.91 09/30/20250.25002/24/2022 1,820,000.0091282CAM3 730
2.581US TREASURYUST0053 1,000,000.00 950,944.94 10/31/20261.12504/08/2022 896,020.0091282CDG3 1,126
2.750US TREASURYUST0055 1,000,000.00 996,500.00 04/15/20252.62505/16/2022 961,760.0091282CEH0 562
3.187US TREASURYUST0056 1,000,000.00 920,994.76 07/31/20260.62506/17/2022 890,040.0091282CCP4 1,034
3.302US TREASURYUST0058 1,000,000.00 924,410.65 09/30/20260.87506/17/2022 892,340.0091282CCZ2 1,095
3.300US TREASURYUST0061 1,000,000.00 997,755.04 06/30/20273.25009/01/2022 950,120.0091282CEW7 1,368
3.309US TREASURYUST0063 1,000,000.00 979,788.81 07/31/20272.75009/01/2022 931,520.0091282CFB2 1,399
3.787US TREASURYUST0065 1,000,000.00 959,884.27 07/31/20272.75012/22/2022 931,520.0091282CFB2 1,399
3.804US TREASURYUST0067 2,000,000.00 1,977,621.33 01/31/20283.50002/09/2023 1,908,680.0091282CGH8 1,583 40,038,193.8637,707,270.0041,000,000.00Subtotal and Average 1.963 912 Total and Average 125,330,173.93 2.754 636119,237,573.93 123,201,628.37 Portfolio CITY
CP
Run Date: 10/23/2023 - 14:32 PM (PRF_PM2) 7.3.11
YTM
365
Par Value Book Value
Stated
RateMarket Value
September 30, 2023
Portfolio Details - Cash
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
Money Market Fund
0.000UNION BANK39901 2,273,740.48 2,273,740.4807/01/2018 2,273,740.48SYS39903-39902 1 Subtotal and Average
Total Cash and Investments 127,603,914.41 2.754 636
1 121,511,314.41 125,475,368.85
Portfolio CITY
CP
Run Date: 10/23/2023 - 14:32 PM (PRF_PM2) 7.3.11
City of Manhattan Beach
Investment Portfolio Summary
As of September 30, 202
3 PORTFOLIO PROFILE Sep 30, 2023 Aug 31, 2023 Jul 31, 2023 Jun 30, 2023 May 31, 2023 Total Book Value (Excluding Trust Funds) $123,201,628 $126,206,553 $129,212,774 $135,056,946 $135,978,436 Increase/(Decrease) from Prior Period (3,004,925) (3,006,221) (5,844,171) (921,490) (1,260,341) Percentage Change (2.4%) (2.3%) (4.3%) (0.7%) (0.9%)
Average Yield to Maturity (365 Days) 2.754% 2.719% 2.671% 2.607% 2.522% Increase/(Decrease) from Prior Period 0.034% 0.049% 0.064% 0.085% 0.034%
PORTFOLIO ALLOCATIONS
By Security Value (Par) Percent Par YTM Time Horizon Percent LAIF* $34,330,174 27.39% 3.534% Next 12 months 42%
Medium Term Notes 21,000,000 16.8% 3.461% Months 13-24 19% Federal Agencies 29,000,000 23.1% 2.429% Months 25-36 14% U.S. Treasuries 41,000,000 32.7% 1.963% Months 37-48 17% Total $125,330,174 100.0% 2.752% Months 49-60 9%
*LAIF YTM as of September 30, 2023 BAD Total 100.0%
RECENT ACTIVITY
Security Date of Activity Maturity Date Purchase (Par) Maturing/Call YTM FHLB - 4% Coupon 7/10/2023 6/9/2028 1,000,000 4.483%
CL - 4.6% Coupon 7/10/2023 3/1/2028 2,000,000 4.690%
KO - 1% Coupon 7/10/2023 3/15/2028 1,000,000 4.374%
Total Purchases $4,000,00 0 4.559%
Matured: FFCB - 3.08% Coupon 7/24/2023 7/24/2023 2,000,000 2.840% Matured: T - 1.25% Coupon 7/31/2023 7/31/2023 1,000,000 2.525% Matured: MSFT - 2% Coupon 8/8/2023 8/8/2023 1,000,000 2.025% Matured: BK - 2.2% Coupon 8/16/2023 8/16/2023 1,000,000 1.951% Matured: T - 1.375% Coupon 8/31/2023 8/31/2023 1,000,000 2.432% Matured: FNMA - 2.875% Coupon 9/12/2023 9/12/2023 1,000,000 0.499% Matured: TMC - 3.460964% Coupon 9/20/2023 9/20/2023 1,000,000 3.461% Total Maturing/Calls $8,000,000 2.322%
City of Manhattan Beach
Investment Portfolio Summary
As of September 30, 202
3 FUNDS HELD IN TRUST Value
Police/Fire Refunding Bonds $59.32
Fire Station 2 COPs 75.18
Marine Avenue Refunding Bonds 0.05
Pension Obligation Bonds 2,735.32
Metlox & Water/Wastewater Refunding Bonds 201.29
UUAD Assessment Refunding Bonds 525,378.17
UUAD Assessment District 12 & 14 419,148.35
UUAD Assessment District 4 209,793.98
PARS Investment Trust 2,776,715.39
Total Funds Held in Trust $3,934,107.05
As of September 30, 2023
3‐Month 6 ‐Month 2 ‐Year 5 ‐Year 10 ‐Year
June 2023 5.49% 5.53% 4.83% 4.14% 3.90%
July 2023 5.56% 5.54% 4.90% 4.31% 4.17%
September 2023 5.56% 5.51% 5.02% 4.49% 4.38%
Portfolio 2.754% 2.754% 2.754% 2.754% 2.754%
LAIF 3 534% 3 534% 3 534% 3 534% 3 534%
Portfolio, 2.754%
LAIF, 3.534%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
US Treasuries Yield Curve
www.treas.gov
Monthly yields are interpolated by the Treasury from the daily yield curve.
CITY OF MANHATTAN BEACH HELD TO MATURITY
Portfolio Maturity Structure Rolling 60 Months
October 2023 through September 2028
Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Oct 23 10/18/23 2.6% TMC nc $1.0M Oct 24 10/15/24 1.70% FNMA nc $2.0M Oct 25 10/31/25 0.71% T nc $2.0M Oct 26 10/31/26 2.58% T nc $1.0M Oct 27 10/8/27 3.60% FNMA nc $1.0M 10/15/24 1.50% FNMA nc $2.0M 10/31/26 4.18% T nc $1.0M
10/24/24 1.85% BK 9/6/24 $1.0M
Nov 23 Nov 24 11/18/24 3.25% FFCB nc $1.0M Nov 25 11/30/25 0.66% T nc $1.0M Nov 26 Nov 27 11/1/25 2.89% TVA nc $1.0M
Dec 23 Dec 24 Dec 25 Dec 26 Dec 27
Jan 24 Jan 25 Jan 26 Jan 27 1/31/27 2.67% T nc $2.0M Jan 28 1/29/28 4.41% BK nc $1.0M Feb 24 2/29/24 2.2% T nc $1.0M Feb 25 2/28/25 1.00% T nc $1.0M Feb 26 2/24/26 0.95% MRK MW: 10 $1.0M Feb 27 2/6/27 4.16% MSFT nc $1.0M Feb 28 2/14/28 3.85% FAMCA nc $1.0M Mar 24 3/31/24 2.2% T nc $1.0M Mar 25 Mar 26 Mar 27 3/22/27 2.75% FFCB nc $2.0M Mar 28 3/1/28 4.69% CL nc $2.0M 3/12/27 4.05% FHLB nc $1.0M 3/15/28 4.37% KO nc $1.0M
Apr 24 Apr 25 4/15/25 2.75% T nc $1.0M Apr 26 Apr 27 Apr 28 May 24 5/16/24 2.6% FFCB nc $2.0M May 25 5/15/25 1.76% TVA nc $1.0M May 26 5/31/26 1.19% T nc $1.0M May 27 5/15/27 3.28% T nc $1.0M May 28 5/17/28 4.21% MRK nc $1.0M 5/31/25 1.06% T nc $1.0M 5/12/26 1.96% AMZN nc $1.0M 5/15/27 3.29% T nc $1.0M 5/10/28 4.17% AAPL nc $1.0M Jun 24 6/14/24 0.3% FHLB nc $1.0M Jun 25 6/30/25 0.56% T nc $1.0M Jun 26 6/30/26 1.18% T nc $1.0M Jun 27 6/20/27 3.74% COST nc $1.0M Jun 28 6/9/28 4.48% FHLB nc $1.0M 6/28/24 3.2% FHLB nc $1.0M 6/30/25 0.59% T nc $1.0M 6/12/26 4.34% FHLB nc $1.0M 6/30/27 3.24% T nc $1.0M 6/30/27 3.30% T nc $1.0M
6/20/27 3.76% COST nc $1.0M
Jul 24 7/2/24 1.5% FNMA nc $2.0M Jul 25 7/31/25 0.58% T nc $2.0M Jul 26 7/31/26 0.89% T nc $1.0M Jul 27 7/31/27 3.31% T nc $1.0M Jul 28 7/2/24 0.3% FNMA nc $1.0M 7/31/25 0.60% T nc $1.0M 7/31/26 3.19% T nc $1.0M 7/31/27 3.79% T nc $1.0M 7/31/25 0.68% T nc $1.0M 7/27/26 4.55% FFCB nc $1.0M
Aug 24 8/15/24 1.5% FHLB nc $1.0M Aug 25 8/31/25 0.62% T nc $1.0M Aug 26 8/31/26 0.91% T nc $1.0M Aug 27 8/15/27 3.75% T nc $1.0M Aug 28 8/30/24 2.0% DIS 7/30/24 $2.0M 8/31/25 0.59% T nc $1.0M 8/15/26 3.29% T nc $1.0M 8/22/27 4.28% AMZN nc $1.0M 8/31/24 1.5% T nc $2.0M 8/22/25 1.87% FFCB nc $1.0M
Sep 24 9/6/24 1.9% KO 9/6/24 $1.0M Sep 25 9/12/25 1.87% FHLB nc $1.0M Sep 26 9/30/26 1.21% T nc $1.0M Sep 27 9/12/27 4.91% AAPL nc $1.0M Sep 28 9/13/24 1.8% FHLB nc $2.0M 9/23/25 2.72% FHLM C nc $2.0M 9/30/26 3.30% T nc $1.0M 9/1/27 4.59% JNJ nc $1.0M 9/30/25 1.68% T nc $2.0M 9/17/26 4.18% WMT nc $1.0M 9/1/27 3.88% JNJ nc $1.0M Total By Year (excl LAIF) $18.0m $24.0m $17.0m $21.0m $11.0m % of Total Securities (excl LAIF) 20% 26% 19% 23% 12%
% of Total Investments (incl LAIF) 42% 19% 14% 17% 9%
Total Securities 73% $91.0M
LAIF 27% $34.3M
Total Investments 100%
$125.3M
Shaded rows indicate months with significant cash inflows.
City of Manhattan Beach
Investment Policy Compliance Chart
As of September 30, 202
3 Instrument % of Total Limit Compliant? Limit Compliant? Limit Compliant? Local Agency Investment Fund (LAIF) $34,330,174 27.4% $75,000,000 Yes Treasury Securities
US Treasury $41,000,000 32.7% 5 Years Yes
Total U.S. Treasuries (35) TRUE $41,000,000 32.7%
Medium Term (Corporate) Notes
Coca-Cola 2,000,000 1.6% 5.0% Yes 5 Years Yes
Amazon 2,000,000 1.6% 5.0% Yes 5 Years Yes
Costco 2,000,000 1.6% 5.0% Yes 5 Years Yes
Walmart 1,000,000 0.8% 5.0% Yes 5 Years Yes
Colgate-Palmolive 2,000,000 1.6% 5.0% Yes 5 Years Yes
Total Consumer Goods Sector $9,000,000 7.2% 10.0% Yes
Toyota Motor Credit 1,000,000 0.8% 5.0% Yes 5 Years Yes Bank of NY 2,000,000 1.6% 5.0% Yes 5 Years Yes
Total Financial Sector $3,000,000 2.4% 10.0% Yes
Johnson & Johnson 2,000,000 1.6% 5.0% Yes 5 Years Yes
Merck 2,000,000 1.6% 5.0% Yes 5 Years Yes
Total Pharmaceuticals Sector $4,000,000 3.2% 10.0% Yes
Apple Inc 2,000,000 1.6% 5.0% Yes 5 Years Yes
Microsoft Corp 1,000,000 0.8% 5.0% Yes 5 Years Yes
Total Technology Sector $3,000,000 2.4% 10.0% Yes
Walt Disney Co 2,000,000 1.6% 5.0% Yes 5 Years Yes
Total Communication Services Sector $2,000,000
Total Medium Term Notes (19) TRUE $21,000,000 16.8% 20.0% Yes Federal Agencies
Federal Home Loan Bank (FHLB) $9,000,000 7.2% 33.3% Yes 5 Years Yes Federal Farm Credit (FFCB) 7,000,000 5.6% 33.3% Yes 5 Years Yes Fannie Mae (FNMA) 8,000,000 6.4% 33.3% Yes 5 Years Yes
Freddie Mac (FHLMC) 2,000,000 1.6% 33.3% Yes 5 Years Yes Frarmer Mac (FAMCA) 1,000,000 0.8% 33.3% Yes 5 Years Yes Tennessee Valley Authority (TVA) 2,000,000 1.6% 33.3% Yes 5 Years Yes Total Federal Agencies (22) TRUE $29,000,000 23.1% 60.0% Yes Total Portfolio $125,330,174 100.0%
Dollar Compliance Percentage Compliance Term Compliance Temporary Suspension
Investments Book Value
LAIF $34,330,173.93
Treasury Securities 40,038,193.86
Federal Agency Issues-Coupon 28,758,474.33
Medium Term Notes 20,073,786.25
Subtotal Investments $123,200,628.37
Demand Deposit/Petty Cash
Cash in Bank $2,273,740.48
Petty Cash 2,280.41
$2,276,020.89
Subtotal City Cash & Investments $125,476,649.26
Bond Funds Held in Trust
Police Fire Refunding $59.32
Fire Station 2 COPs 75.18
Marine Ave Park Refunding 0.05
Metlox & Water/Wastewater Refunding 201.29
Utility Assessment Districts 1,154,320.50
Pension Obligation Bonds 2,735.32
Subtotal Bonds Held in Trust $1,157,391.66
Investment Trust Funds
PARS Pension Rate Stabilization Trust 2,776,715.39
Treasurer's Balance $129,410,756.31
CITY OF MANHATTAN BEACH
TREASURER'S REPORT
September 30, 2023
Subtotal Demand Deposit
September 3.534
August 3.434
July 3.305**
June 3.167
May 2.993
April 2.870
LAIF Apportionment Rate(2): 3.15
LAIF Earnings Ratio(2): 0.00008636172883763
LAIF Administrative Cost(1)*: 0.06
PMIA Average Life(1): 260
LAIF Fair Value Factor(1): 0.984828499
PMIA Daily(1): 3.26
PMIA Quarter to Date(1): 3.01
Treasuries
59.91%
Agencies
24.30%
Certificates of
Deposit/Bank Notes
7.59%
Time
Deposits
3.10%
Commercial
Paper
4.61%
Corporate
Bonds
0.26%
Loans
0.23%
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a). *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year. ** Revised
Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 10/11/23
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 06/30/23
Chart does not include $2,496,000.00 in mortgages, which equates to 0.002%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
08/31/23
$168.1 billion