City of Manhattan Beach
Finance Department
Investment Portfolio
February 2024
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
February 1, 2024 through February 29, 2024
Portfolio Summary
% of
Portfolio
Book
ValueInvestments
Market
Value
Par
Value
Days to
MaturityTerm
YTM
360 Equiv.
YTM
365 Equiv.
LAIF 24,908,774.12 120.77 4.066124,908,774.1224,908,774.12 4.122 Medium Term Notes 22,061,040.45 1,65918.39 3.5911,10221,783,260.0023,000,000.00 3.641 Federal Agency Issues - Coupon 30,773,845.81 1,44825.66 2.55959330,205,350.0031,000,000.00 2.594 Treasury Securities - Coupon 42,195,264.28 1,59635.18 2.08284940,489,100.0043,000,000.00 2.111 119,938,924.66 100.00%
Investments
117,386,484.12121,908,774.12 1,238 654 2.894 2.934
Cash
(not included in yield calculations)
Passbook/Checking 8,265,782.92 1 0.00018,265,782.928,265,782.92 0.000 128,204,707.58Total Cash and Investments 125,652,267.04130,174,557.04 1,238 654 2.894 2.934 Current Year
February 29
234,773.23
Fiscal Year To Date
1,857,297.57
Total Earnings Month Ending
__________________________________________________ ____________________ STEVE S. CHARELIAN, FINANCE DIRECTOR
Portfolio CITY
CP
Reporting period 02/01/2024-02/29/2024
Run Date: 03/18/2024 - 19:32 PM (PRF_PM1) 7.3.11
Report Ver. 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
February 29, 2024
Portfolio Details - Investments
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
MaturityS&PCUSIP Investment #
Purchase
Date
LAIF
4.122Local Agency Invest. Fund3000 24,908,774.12 24,908,774.12 4.12207/01/2018 24,908,774.12SYS3000 1 24,908,774.1224,908,774.1224,908,774.12Subtotal and Average 4.122 1 Medium Term Notes
4.905APPLE INCMTN0112 1,000,000.00 935,170.97 09/12/20272.90010/25/2022 943,580.00 AA+037833DB3 1,290
4.171APPLE INCMTN0121 1,000,000.00 992,446.00 05/10/20284.00006/12/2023 978,370.00 AA+037833ET3 1,531
1.963AMAZON.COM LLCMTN0111 1,000,000.00 977,061.09 05/12/20261.00002/24/2022 920,470.00 AA023135BX3 802
4.282AMAZON.COM LLCMTN0116 1,000,000.00 961,004.74 08/22/20273.15002/09/2023 949,370.00 AA023135BC9 1,269
1.850BANK OF NY MELLOMTN0109 1,000,000.00 1,011,205.00 10/24/20242.10002/10/2020 978,270.00 A06406RAL1 237
4.410BANK OF NY MELLOMTN0118 1,000,000.00 963,528.81 01/29/20283.40004/14/2023 947,740.00 A06406RAF4 1,429
4.690COLGATE-PALM COMTN0123 2,000,000.00 1,992,460.00 03/01/20284.60007/10/2023 2,015,180.00 AA-194162AR4 1,461
3.743COSTCO COMPANIESMTN0117 1,000,000.00 920,408.34 06/20/20271.37504/14/2023 899,590.00 A+22160KAN5 1,206
3.765COSTCO COMPANIESMTN0119 1,000,000.00 919,493.19 06/20/20271.37504/18/2023 899,590.00 A+22160KAN5 1,206
1.977Walt DisneyMTN0107 2,000,000.00 1,997,086.66 08/30/20241.75012/12/2019 1,963,820.00 A-254687FK7 182
4.593Johnson & JohnsonMTN0113 1,000,000.00 879,680.02 09/01/20270.95010/25/2022 884,830.00 AAA478160CP7 1,279
3.880Johnson & JohnsonMTN0114 1,000,000.00 897,944.31 09/01/20270.95012/22/2022 884,830.00 AAA478160CP7 1,279
1.890COCA-COLA COMTN0108 1,000,000.00 993,679.00 09/06/20241.75012/12/2019 982,380.00 A+191216CL2 189
4.374COCA-COLA COMTN0124 1,000,000.00 866,778.90 03/15/20281.00007/10/2023 872,000.00 A+191216DD9 1,475
4.060COCA-COLA COMTN0126 1,000,000.00 885,190.00 03/15/20281.00002/05/2024 872,000.00 A+191216DD9 1,475
4.163MICROSOFT CORPMTN0115 1,000,000.00 974,877.23 02/06/20273.30012/22/2022 965,860.00 AAA594918BY9 1,072
0.950MERCK & CO INCMTN0110 1,000,000.00 991,420.00 02/24/20260.75010/05/2021 924,430.00 A+58933YAY1 725
4.210MERCK & CO INCMTN0120 1,000,000.00 992,917.00 05/17/20284.05006/12/2023 980,180.00 A+58933YBH7 1,538
5.044PepsicoMTN0125 1,000,000.00 977,524.66 05/15/20284.45011/02/2023 998,040.00 A+713448FR4 1,536
4.440TOYOTA MOTOR CREDITMTN0127 1,000,000.00 1,009,170.00 01/05/20294.65002/05/2024 1,009,170.0089236TLL7 1,771
4.183WALMART INCMTN0122 1,000,000.00 921,994.53 09/17/20261.05006/12/2023 913,560.00 AA931142ER0 930 22,061,040.4521,783,260.0023,000,000.00Subtotal and Average 3.641 1,102 Federal Agency Issues - Coupon
3.850FARMER MACFAC0304 1,000,000.00 1,000,000.00 02/14/20283.85002/14/2023 980,240.0031422XW99 1,445
1.870FED FARM CR BKFAC0294 1,000,000.00 997,642.00 08/22/20251.80002/24/2022 957,400.00 AA+3133ENPX2 539
2.747FED FARM CR BKFAC0296 2,000,000.00 2,025,552.25 03/22/20273.15004/11/2022 1,905,760.00 AA+3133EJDV8 1,116
2.625FED FARM CR BKFAC0297 2,000,000.00 2,000,000.00 05/16/20242.62505/16/2022 1,987,880.00 AA+3133ENWP1 76
3.250FED FARM CR BKFAC0301 1,000,000.00 979,554.54 11/18/20240.87506/17/2022 970,260.003133ENEJ5 262
4.550FED FARM CR BKFAC0303 1,000,000.00 998,356.00 07/27/20264.50010/27/2022 996,150.003133ENV72 878
4.920FED FARM CR BKFAC0309 1,000,000.00 1,000,580.04 11/01/20284.87511/02/2023 1,020,800.00 AA+3133EPA47 1,706
1.771Federal Home Loan BankFAC0285 2,000,000.00 2,015,648.49 09/13/20242.87512/11/2019 1,974,820.003130A2UW4 196 Portfolio CITY
CP
Run Date: 03/18/2024 - 19:32 PM (PRF_PM2) 7.3.11
Report Ver. 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
February 29, 2024
Portfolio Details - Investments
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
MaturityS&PCUSIP Investment #
Purchase
Date
Federal Agency Issues - Coupon
1.470Federal Home Loan BankFAC0289 1,000,000.00 1,001,306.00 08/15/20241.50002/07/2020 982,610.00 AA+3130AGWK7 167
0.312Federal Home Loan BankFAC0291 1,000,000.00 1,012,086.41 06/14/20242.87502/04/2021 992,770.00 AA+3130A1XJ2 105
1.871Federal Home Loan BankFAC0293 1,000,000.00 995,852.00 09/12/20251.75002/24/2022 955,220.00 AA+3130A8ZQ9 560
3.230Federal Home Loan BankFAC0300 1,000,000.00 990,620.00 06/28/20242.75006/17/2022 991,370.003130ASDS5 119
4.343Federal Home Loan BankFAC0302 1,000,000.00 917,860.03 06/12/20260.87510/24/2022 920,580.003130AN4T4 833
4.048Federal Home Loan BankFAC0306 1,000,000.00 970,093.32 03/12/20273.00006/12/2023 957,970.00 AA+3130A3DU5 1,106
4.483Federal Home Loan BankFAC0307 1,000,000.00 982,571.07 06/09/20284.00007/10/2023 988,060.00 AA+3130AWC24 1,561
4.916Federal Home Loan BankFAC0308 1,000,000.00 995,442.24 09/08/20284.75011/02/2023 1,020,050.00 AA+3130AXEL8 1,652
2.722Federal Home Loan MortgageFAC0298 2,000,000.00 1,920,422.82 09/23/20250.37505/13/2022 1,868,100.00 AA+3137EAEX3 571
1.700Fannie MaeFAC0286 2,000,000.00 1,993,020.00 10/15/20241.62512/11/2019 1,955,920.00 AA+3135G0W66 228
1.500Fannie MaeFAC0287 2,000,000.00 2,011,260.00 10/15/20241.62502/07/2020 1,955,920.00 AA+3135G0W66 228
1.526Fannie MaeFAC0288 2,000,000.00 2,002,534.24 07/02/20241.75002/07/2020 1,975,740.00 AA+3135G0V75 123
0.259Fannie MaeFAC0290 1,000,000.00 1,007,696.46 07/02/20241.75002/04/2021 987,870.00 AA+3135G0V75 123
3.597Fannie MaeFAC0305 1,000,000.00 902,331.73 10/08/20270.75004/14/2023 879,850.003135G05Y5 1,316
1.763Tennessee Valley AuthorityFAC0295 1,000,000.00 985,511.13 05/15/20250.75002/24/2022 951,200.00 AA+880591EW8 440
2.894Tennessee Valley AuthorityFAC0299 1,000,000.00 1,067,905.04 11/01/20256.75005/13/2022 1,028,810.00 AA+880591CJ9 610 30,773,845.8130,205,350.0031,000,000.00Subtotal and Average 2.594 593 Treasury Securities - Coupon
2.240US TREASURYUST0034 1,000,000.00 994,687.50 03/31/20242.12505/13/2019 997,290.00912828W71 30
1.493US TREASURYUST0035 2,000,000.00 2,005,451.48 08/31/20241.87502/07/2020 1,966,480.009128282U3 183
0.561US TREASURYUST0036 1,000,000.00 994,955.86 06/30/20250.25005/28/2021 941,020.00912828ZW3 486
0.591US TREASURYUST0039 1,000,000.00 994,813.27 06/30/20250.25008/11/2021 941,020.00912828ZW3 486
1.058US TREASURYUST0047 1,000,000.00 988,771.27 05/31/20250.25012/08/2021 943,950.00912828ZT0 456
1.001US TREASURYUST0051 1,000,000.00 1,003,906.25 02/28/20251.12512/09/2021 962,110.00912828ZC7 364
2.665US TREASURYUST0054 2,000,000.00 1,931,568.13 01/31/20271.50004/08/2022 1,841,100.00912828Z78 1,066
3.287US TREASURYUST0057 1,000,000.00 953,869.72 08/15/20261.50006/17/2022 930,590.009128282A7 897
3.285US TREASURYUST0059 1,000,000.00 970,992.75 05/15/20272.37509/01/2022 939,960.00912828X88 1,170
3.295US TREASURYUST0060 1,000,000.00 970,666.12 05/15/20272.37509/01/2022 939,960.00912828X88 1,170
3.241US TREASURYUST0062 1,000,000.00 909,798.63 06/30/20270.50009/01/2022 880,740.00912828ZV5 1,216
4.180US TREASURYUST0064 1,000,000.00 927,925.10 10/31/20261.62510/25/2022 929,060.00912828YQ7 974
3.747US TREASURYUST0066 1,000,000.00 946,891.58 08/15/20272.25002/09/2023 932,500.009128282R0 1,262
0.576US TREASURYUST0037 2,000,000.00 1,989,046.34 07/31/20250.25005/28/2021 1,875,460.0091282CAB7 517
0.620US TREASURYUST0038 1,000,000.00 993,583.36 08/31/20250.25005/28/2021 934,730.0091282CAJ0 548
0.601US TREASURYUST0040 1,000,000.00 994,488.10 07/31/20250.25008/11/2021 937,730.0091282CAB7 517
0.586US TREASURYUST0041 1,000,000.00 993,899.83 08/31/20250.25008/11/2021 934,730.0091282CAJ0 548 Portfolio CITY
CP
Run Date: 03/18/2024 - 19:32 PM (PRF_PM2) 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
February 29, 2024
Portfolio Details - Investments
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
MaturityS&PCUSIP Investment #
Purchase
Date
Treasury Securities - Coupon
0.658US TREASURYUST0042 1,000,000.00 994,431.89 11/30/20250.37508/09/2021 927,730.0091282CAZ4 639
0.681US TREASURYUST0043 1,000,000.00 992,977.28 07/31/20250.25010/05/2021 937,730.0091282CAB7 517
0.707US TREASURYUST0044 2,000,000.00 1,981,851.13 10/31/20250.25010/05/2021 1,857,040.0091282CAT8 609
0.907US TREASURYUST0045 1,000,000.00 992,500.00 08/31/20260.75010/05/2021 912,190.0091282CCW9 913
0.892US TREASURYUST0046 1,000,000.00 993,073.36 07/31/20260.62510/05/2021 911,720.0091282CCP4 882
1.191US TREASURYUST0048 1,000,000.00 989,680.21 05/31/20260.75012/09/2021 919,300.0091282CCF6 821
1.176US TREASURYUST0049 1,000,000.00 992,094.65 06/30/20260.87512/09/2021 920,120.0091282CCJ8 851
1.210US TREASURYUST0050 1,000,000.00 990,817.92 09/30/20260.87512/09/2021 913,280.0091282CCZ2 943
1.678US TREASURYUST0052 2,000,000.00 1,946,771.93 09/30/20250.25002/24/2022 1,863,280.0091282CAM3 578
2.581US TREASURYUST0053 1,000,000.00 958,303.20 10/31/20261.12504/08/2022 916,520.0091282CDG3 974
2.750US TREASURYUST0055 1,000,000.00 996,500.00 04/15/20252.62505/16/2022 974,380.0091282CEH0 410
3.187US TREASURYUST0056 1,000,000.00 933,806.42 07/31/20260.62506/17/2022 911,720.0091282CCP4 882
3.302US TREASURYUST0058 1,000,000.00 936,039.78 09/30/20260.87506/17/2022 913,280.0091282CCZ2 943
3.300US TREASURYUST0061 1,000,000.00 997,755.04 06/30/20273.25009/01/2022 965,200.0091282CEW7 1,216
3.309US TREASURYUST0063 1,000,000.00 982,263.65 07/31/20272.75009/01/2022 948,590.0091282CFB2 1,247
3.787US TREASURYUST0065 1,000,000.00 964,796.40 07/31/20272.75012/22/2022 948,590.0091282CFB2 1,247
3.804US TREASURYUST0067 2,000,000.00 1,980,062.64 01/31/20283.50002/09/2023 1,939,920.0091282CGH8 1,431
4.816US TREASURYUST0068 1,000,000.00 983,663.49 08/31/20284.37511/01/2023 1,003,200.0091282CHX2 1,644
3.750US TREASURYUST0069 2,000,000.00 2,022,560.00 01/31/20294.00002/02/2024 1,976,880.0091282CJW2 1,797 42,195,264.2840,489,100.0043,000,000.00Subtotal and Average 2.111 849 Total and Average 121,908,774.12 2.934 654117,386,484.12 119,938,924.66 Portfolio CITY
CP
Run Date: 03/18/2024 - 19:32 PM (PRF_PM2) 7.3.11
YTM
365
Par Value Book Value
Stated
RateMarket Value
February 29, 2024
Portfolio Details - Cash
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
MaturityS&PCUSIP Investment #
Purchase
Date
Money Market Fund
0.000UNION BANK39901 8,265,782.92 8,265,782.9207/01/2018 8,265,782.92SYS39903-39902 1 Subtotal and Average
Total Cash and Investments 130,174,557.04 2.934 654
1 125,652,267.04 128,204,707.58
Portfolio CITY
CP
Run Date: 03/18/2024 - 19:32 PM (PRF_PM2) 7.3.11
City of Manhattan Beach
Investment Portfolio Summary
As of February 29, 202
4 PORTFOLIO PROFILE Feb 29, 2024 Jan 31, 2024 Dec 31, 2023 Nov 30, 2023 Oct 31, 2023 Total Book Value (Excluding Trust Funds) $119,938,925 $114,017,044 $113,762,069 $115,482,035 $114,526,378 Increase/(Decrease) from Prior Period 5,921,881 254,974 (1,719,966) 955,657 (7,676,374) Percentage Change 5.2% 0.2% (1.5%) 0.8% (6.3%)
Average Yield to Maturity (365 Days) 2.934% 2.839% 2.820% 2.819% 2.734% Increase/(Decrease) from Prior Period 0.095% 0.018% 0.002% 0.085% (0 .021%)
PORTFOLIO ALLOCATIONS
By Security Value (Par) Percent Par YTM Time Horizon Percent LAIF* $24,908,774 20.43% 4.122% Next 12 months 39%
Medium Term Notes 23,000,000 18.9% 3.640% Months 13-24 18% Federal Agencies 31,000,000 25.4% 2.594% Months 25-36 14% U.S. Treasuries 43,000,000 35.3% 2.111% Months 37-48 17% Total $121,908,774 100.0% 2.933% Months 49-60 11%
*LAIF YTM as of February 29, 2024 BAD Total 100.0%
RECENT ACTIVITY
Security Date of Activity Maturity Date Purchase (Par) Maturing/Ca ll YTM
T - 4% Coupon 2/8/2024 1/31/2029 2,000,000 3.750%
KO - 1% Coupon 2/2/2024 3/15/2028 1,000,000 4.060%
TOYOTA - 4.65% Coupon 2/5/2024 1/5/2029 1,000,000 4.440% Total Purchases $4,000,00 0 4.000%
Matured: TMC - 2.25% Coupon 10/18/2023 10/18/2023 1,000,000 2.634% Matured: T - 1.375% Coupon 8/31/2023 8/31/2023 1,000,000 2.432% Matured: T - 2.125% Coupon 2/29/2024 2/29/2024 1,000,000 2.234% Total Maturing/Calls $3,000,000 2.433%
City of Manhattan Beach
Investment Portfolio Summary
As of February 29, 202
4 3‐Month 6‐Month 2‐Year 5‐Year 10‐Year
December 2023 5.40% 5.26% 4.23% 3.84% 4.02%
January 2024 5.45% 5.21% 4.32% 3.98% 4.06%
February 2024 5.44% 5.28% 4.54% 4.19% 4.21%
Portfolio 2.934% 2.934% 2.934% 2.934% 2.934%
LAIF 4 122% 4 122% 4 122% 4 122% 4 122%
Portfolio, 2.934%
LAIF, 4.122%
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
March 2024 through February 2029
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 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
3/15/28 4.06% 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 5/10/28 4.17% AAPL 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 5/17/28 4.21% MRK 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 8/31/28 4.82% T nc $1.0M 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 9/8/28 4.92% FHLB nc $1.0M 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 Oct 24 10/15/24 1.7% 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 Oct 28 10/15/24 1.5% FNMA nc $2.0M 10/31/26 4.18% T nc $1.0M
10/24/24 1.9% BK 9/6/24 $1.0M
Nov 24 11/18/24 3.3% FFCB nc $1.0M Nov 25 11/30/25 0.66% T nc $1.0M Nov 26 Nov 27 Nov 28 11/1/28 4.92% FFCB nc $1.0M 11/1/25 2.89% TVA nc $1.0M
Dec 24 Dec 25 Dec 26 Dec 27 Dec 28
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 Jan 29 1/5/29 4.44% TOYOT A nc $1.0M 1/31/28 3.80% T nc $2.0M 1/31/29 3.75% T nc $2.0M
Feb 25 2/28/25 1.0% 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% FAMC A nc $1.0M Feb 29 Total By Year (excl LAIF) $23.0m $22.0m $17.0m $21.0m $14.0m % of Total Securities (excl LAIF) 24% 23% 18% 22% 14%
% of Total Investments (incl LAIF) 39% 18% 14% 17% 11%
Total Securities 80% $97.0M
LAIF 20% $24.9M
Total Investments 100%
$121.9M
Shaded rows indicate months with significant cash inflows.
City of Manhattan Beach
Investment Policy Compliance Chart
As of February 29, 202
4 Instrument % of Total Limit Compliant? Limit Compliant? Limit Compliant? Local Agency Investment Fund (LAIF) $24,908,774 20.4% $75,000,000 Yes Treasury Securities
US Treasury $43,000,000 35.3% 5 Years Yes
Total U.S. Treasuries (36) TRUE $43,000,000 35.3%
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
Pepsi Cola 1,000,000 0.8% 5.0% Yes 5 Years Yes
Coca-Cola 1,000,000 0.8% 5.0% Yes 6 Years Yes
Toyota Moto Credit Corp 1,000,000 0.8% 5.0% Yes 6 Years Yes Total Consumer Goods Sector $12,000,000 9.8% 10.0% Yes
Bank of NY 2,000,000 1.6% 5.0% Yes 5 Years Yes
Total Financial Sector $2,000,000 1.6% 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 3.3% 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 2.5% 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 (21) TRUE $23,000,000 18.9% 20.0% Yes Federal Agencies
Federal Home Loan Bank (FHLB) $10,000,000 8.2% 33.3% Yes 5 Years Yes Federal Farm Credit (FFCB) 8,000,000 6.6% 33.3% Yes 5 Years Yes Fannie Mae (FNMA) 8,000,000 6.6% 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 (24) TRUE $31,000,000 25.4% 60.0% Yes Total Portfolio $121,908,774 100.0%
Dollar Compliance Percentage Compliance Term Compliance Temporary Suspension
Investments Book Value
LAIF $24,908,774.12
Treasury Securities 42,195,264.28
Federal Agency Issues-Coupon 30,773,845.81
Medium Term Notes 22,061,040.45
Subtotal Investments $119,938,924.66
Demand Deposit/Petty Cash
Cash in Bank $8,265,782.92
Petty Cash 2,280.41
$8,268,063.33
Subtotal City Cash & Investments $128,206,987.99
Bond Funds Held in Trust
Police Fire Refunding $1,610.31
Fire Station 2 COPs 668.20
Marine Ave Park Refunding 1.02
Metlox & Water/Wastewater Refunding 1,587.43
Utility Assessment Districts 1,312,463.58
Pension Obligation Bonds 11,069.45
Subtotal Bonds Held in Trust $1,327,399.99
Investment Trust Funds
PARS Pension Rate Stabilization Trust 3,513,534.18
Treasurer's Balance $133,047,922.16
CITY OF MANHATTAN BEACH
TREASURER'S REPORT
February 29, 2024
Subtotal Demand Deposit
February 4.122
January 4.012
December 3.929
November 3.843
October 3.670
September 3.534
PMIA Average Life(1): 230
LAIF Fair Value Factor(1): 0.993543131
PMIA Daily(1): 3.96
PMIA Quarter to Date(1): 3.81
LAIF Apportionment Rate(2): 4.00
LAIF Earnings Ratio(2): 0.00010932476863589
LAIF Administrative Cost(1)*: 0.29
Treasuries
58.88%Agencies
22.53%
Certificates of
Deposit/Bank Notes
8.98%
Time
Deposits
3.13%
Commercial
Paper
5.91%
Corporate
Bonds
0.37%
Loans
0.20%
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a). *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year.
Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 3/06/24
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 12/31/23
Chart does not include $2,112,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
1/31/24
$165.8 billion