City of Manhattan Beach
Finance Department
Investment Portfolio
May 2025
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.
Libby Bretthauer, Finance Director
Libby Bretthauer
CITY OF MANHATTAN BEACH
Portfolio Management
May 1, 2025 through May 31, 2025
Portfolio Summary
% of
Portfolio
Book
ValueInvestments
Market
Value
Par
Value
Days to
Maturity
Term
YTM
360 Equiv.
YTM
365 Equiv.
LAIF 20,375,284.04 119.82 4.213120,375,284.0420,375,284.04 4.272 Medium Term Notes 21,235,105.23 1,65620.66 4.00792321,447,270.0022,000,000.00 4.062 Federal Agency Issues - Coupon 18,882,233.29 1,58018.37 3.64675618,959,660.0019,000,000.00 3.696 Treasury Securities - Coupon 42,302,151.43 1,64041.15 2.44361342,100,550.0043,000,000.00 2.477 102,794,773.99 100.00%
Investments
102,882,764.04104,375,284.04 1,308 582 3.338 3.384
Cash
(not included in yield calculations)
Passbook/Checking 21,386,062.41 1 0.000121,386,062.4121,386,062.41 0.000 124,180,836.40Total Cash and Investments 124,268,826.45125,761,346.45 1,308 582 3.338 3.384 Current Year
May 31
245,271.90
Fiscal Year To Date
2,852,185.81
Average Daily Balance
Effective Rate of Return
121,597,549.13
2.37%
Total Earnings Month Ending
__________________________________________________ ____________________
CITY OF MANHATTAN BEACH,
Portfolio CITY
CP
Reporting period 05/01/2025-05/31/2025
Run Date: 07/09/2025 - 09:27 IE (PRF_PM1) 7.3.11
Report Ver. 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
May 31, 2025
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
LAIF
4.272Local Agency Invest. Fund3000 20,375,284.04 20,375,284.04 4.27220,375,284.04SYS3000 1 20,375,284.0420,375,284.0420,375,284.0420,375,284.04Subtotal and Average 4.272 1 Medium Term Notes
4.905APPLE INCMTN0112 1,000,000.00 952,692.33 09/12/20272.90010/25/2022 975,630.00 AA+037833DB3 833
4.171APPLE INCMTN0121 1,000,000.00 992,446.00 05/10/20284.00006/12/2023 1,001,200.00 AA+037833ET3 1,074
1.963AMAZON.COM LLCMTN0111 1,000,000.00 986,753.59 05/12/20261.00002/24/2022 970,010.00 AA023135BX3 345
4.282AMAZON.COM LLCMTN0116 1,000,000.00 971,704.66 08/22/20273.15002/09/2023 979,720.00 AA023135BC9 812
4.342AMAZON.COM LLCMTN0129 1,000,000.00 965,992.71 04/13/20293.45007/12/2024 978,230.00023135CG9 1,412
4.410BANK OF NY MELLOMTN0118 1,000,000.00 972,466.61 01/29/20283.40004/14/2023 980,190.00 A06406RAF4 972
4.690COLGATE-PALM COMTN0123 2,000,000.00 1,992,460.00 03/01/20284.60007/10/2023 2,031,080.00 AA-194162AR4 1,004
3.743COSTCO COMPANIESMTN0117 1,000,000.00 943,330.74 06/20/20271.37504/14/2023 947,940.00 A+22160KAN5 749
3.765COSTCO COMPANIESMTN0119 1,000,000.00 942,679.15 06/20/20271.37504/18/2023 947,940.00 A+22160KAN5 749
4.593Johnson & JohnsonMTN0113 1,000,000.00 912,469.72 09/01/20270.95010/25/2022 934,970.00 AAA478160CP7 822
3.880Johnson & JohnsonMTN0114 1,000,000.00 925,756.61 09/01/20270.95012/22/2022 934,970.00 AAA478160CP7 822
4.374COCA-COLA COMTN0124 1,000,000.00 898,435.40 03/15/20281.00007/10/2023 923,530.00 A+191216DD9 1,018
3.556COCA-COLA COMTN0126 1,000,000.00 910,401.65 03/15/20281.00002/05/2024 923,530.00 A+191216DD9 1,018
4.163MICROSOFT CORPMTN0115 1,000,000.00 982,981.35 02/06/20273.30012/22/2022 988,070.00 AAA594918BY9 615
0.950MERCK & CO INCMTN0110 1,000,000.00 991,420.00 02/24/20260.75010/05/2021 974,520.00 A+58933YAY1 268
4.210MERCK & CO INCMTN0120 1,000,000.00 992,917.00 05/17/20284.05006/12/2023 999,780.00 A+58933YBH7 1,081
5.044PepsicoMTN0125 1,000,000.00 982,661.88 05/15/20284.45011/02/2023 1,011,000.00 A+713448FR4 1,079
4.493TOYOTA MOTOR CREDITMTN0127 1,000,000.00 1,007,486.22 01/05/20294.65002/05/2024 1,006,580.0089236TLL7 1,314
4.650TOYOTA MOTOR CREDITMTN0130 1,000,000.00 1,000,000.00 01/05/20294.65007/12/2024 1,006,580.0089236TLL7 1,314
4.183WALMART INCMTN0122 1,000,000.00 952,551.63 09/17/20261.05006/12/2023 962,610.00 AA931142ER0 473
4.349WALMART INCMTN0128 1,000,000.00 957,497.98 07/08/20293.25007/12/2024 969,190.00931142EN9 1,498 21,235,105.2321,447,270.0022,000,000.0021,235,105.23Subtotal and Average 4.062 923 Federal Agency Issues - Coupon
3.850FARMER MACFAC0304 1,000,000.00 1,000,000.00 02/14/20283.85002/14/2023 996,930.0031422XW99 988
1.870FED FARM CR BKFAC0294 1,000,000.00 997,642.00 08/22/20251.80002/24/2022 994,280.00 AA+3133ENPX2 82
2.747FED FARM CR BKFAC0296 2,000,000.00 2,017,635.89 03/22/20273.15004/11/2022 1,968,200.00 AA+3133EJDV8 659
4.550FED FARM CR BKFAC0303 1,000,000.00 998,356.00 07/27/20264.50010/27/2022 1,005,750.003133ENV72 421
4.860FED FARM CR BKFAC0309 1,000,000.00 1,000,600.00 11/01/20284.87511/02/2023 1,027,830.00 AA+3133EPA47 1,249
4.527FED FARM CR BKFAC0311 2,000,000.00 2,021,134.45 04/30/20294.75005/08/2024 2,046,800.003133ERDH1 1,429
1.871Federal Home Loan BankFAC0293 1,000,000.00 995,852.00 09/12/20251.75002/24/2022 992,480.00 AA+3130A8ZQ9 103
4.343Federal Home Loan BankFAC0302 1,000,000.00 951,386.55 06/12/20260.87510/24/2022 967,080.003130AN4T4 376 Portfolio CITY
CP
Run Date: 07/09/2025 - 09:27 PM (PRF_PM2) 7.3.11
Report Ver. 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
May 31, 2025
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
Federal Agency Issues - Coupon
4.048Federal Home Loan BankFAC0306 1,000,000.00 979,934.66 03/12/20273.00006/12/2023 982,600.00 AA+3130A3DU5 649
4.483Federal Home Loan BankFAC0307 1,000,000.00 986,495.03 06/09/20284.00007/10/2023 1,003,040.00 AA+3130AWC24 1,104
4.861Federal Home Loan BankFAC0308 1,000,000.00 995,280.00 09/08/20284.75011/02/2023 1,024,610.00 AA+3130AXEL8 1,195
4.514Federal Home Loan BankFAC0310 2,000,000.00 2,012,365.16 03/09/20294.62505/09/2024 2,034,380.003130B13J4 1,377
2.722Federal Home Loan MortgageFAC0298 2,000,000.00 1,966,406.42 09/23/20250.37505/13/2022 1,975,820.00 AA+3137EAEX3 114
3.597Fannie MaeFAC0305 1,000,000.00 928,223.17 10/08/20270.75004/14/2023 930,000.003135G05Y5 859
2.894Tennessee Valley AuthorityFAC0299 1,000,000.00 1,030,921.96 11/01/20256.75005/13/2022 1,009,860.00 AA+880591CJ9 153 18,882,233.2918,959,660.0019,000,000.0019,332,061.64Subtotal and Average 3.696 756 Treasury Securities - Coupon
0.561US TREASURYUST0036 1,000,000.00 998,318.64 06/30/20250.25005/28/2021 996,770.00912828ZW3 29
0.591US TREASURYUST0039 1,000,000.00 998,271.09 06/30/20250.25008/11/2021 996,770.00912828ZW3 29
2.665US TREASURYUST0054 2,000,000.00 1,953,762.25 01/31/20271.50004/08/2022 1,920,940.00912828Z78 609
3.287US TREASURYUST0057 1,000,000.00 971,443.16 08/15/20261.50006/17/2022 969,920.009128282A7 440
3.285US TREASURYUST0059 1,000,000.00 979,587.49 05/15/20272.37509/01/2022 971,210.00912828X88 713
3.295US TREASURYUST0060 1,000,000.00 979,357.64 05/15/20272.37509/01/2022 971,210.00912828X88 713
3.241US TREASURYUST0062 1,000,000.00 935,570.45 06/30/20270.50009/01/2022 932,770.00912828ZV5 759
4.180US TREASURYUST0064 1,000,000.00 953,363.30 10/31/20261.62510/25/2022 967,500.00912828YQ7 517
3.747US TREASURYUST0066 1,000,000.00 961,542.18 08/15/20272.25002/09/2023 965,590.009128282R0 805
0.576US TREASURYUST0037 2,000,000.00 1,995,952.30 07/31/20250.25005/28/2021 1,986,800.0091282CAB7 60
0.620US TREASURYUST0038 1,000,000.00 997,426.92 08/31/20250.25005/28/2021 990,170.0091282CAJ0 91
0.601US TREASURYUST0040 1,000,000.00 997,969.30 07/31/20250.25008/11/2021 993,400.0091282CAB7 60
0.586US TREASURYUST0041 1,000,000.00 997,559.93 08/31/20250.25008/11/2021 990,170.0091282CAJ0 91
0.658US TREASURYUST0042 1,000,000.00 997,336.99 11/30/20250.37508/09/2021 980,710.0091282CAZ4 182
0.681US TREASURYUST0043 1,000,000.00 997,412.68 07/31/20250.25010/05/2021 993,400.0091282CAB7 60
0.707US TREASURYUST0044 2,000,000.00 1,991,750.51 10/31/20250.25010/05/2021 1,966,800.0091282CAT8 152
0.907US TREASURYUST0045 1,000,000.00 992,500.00 08/31/20260.75010/05/2021 959,960.0091282CCW9 456
0.892US TREASURYUST0046 1,000,000.00 995,754.64 07/31/20260.62510/05/2021 960,780.0091282CCP4 425
1.191US TREASURYUST0048 1,000,000.00 993,950.47 05/31/20260.75012/09/2021 966,960.0091282CCF6 364
1.176US TREASURYUST0049 1,000,000.00 995,256.79 06/30/20260.87512/09/2021 965,940.0091282CCJ8 394
1.210US TREASURYUST0050 1,000,000.00 994,156.86 09/30/20260.87512/09/2021 959,340.0091282CCZ2 486
1.678US TREASURYUST0052 2,000,000.00 1,977,187.97 09/30/20250.25002/24/2022 1,973,580.0091282CAM3 121
2.581US TREASURYUST0053 1,000,000.00 973,019.72 10/31/20261.12504/08/2022 960,350.0091282CDG3 517
3.187US TREASURYUST0056 1,000,000.00 959,429.74 07/31/20260.62506/17/2022 960,780.0091282CCP4 425
3.302US TREASURYUST0058 1,000,000.00 959,298.04 09/30/20260.87506/17/2022 959,340.0091282CCZ2 486
3.300US TREASURYUST0061 1,000,000.00 997,755.04 06/30/20273.25009/01/2022 987,460.0091282CEW7 759 Portfolio CITY
CP
Run Date: 07/09/2025 - 09:27 PM (PRF_PM2) 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
May 31, 2025
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
Treasury Securities - Coupon
3.309US TREASURYUST0063 1,000,000.00 987,213.33 07/31/20272.75009/01/2022 976,450.0091282CFB2 790
3.787US TREASURYUST0065 1,000,000.00 974,620.66 07/31/20272.75012/22/2022 976,450.0091282CFB2 790
3.804US TREASURYUST0067 2,000,000.00 1,984,945.26 01/31/20283.50002/09/2023 1,981,400.0091282CGH8 974
4.816US TREASURYUST0068 1,000,000.00 987,164.17 08/31/20284.37511/01/2023 1,014,840.0091282CHX2 1,187
3.786US TREASURYUST0069 2,000,000.00 2,018,434.21 01/31/20294.00002/02/2024 2,006,180.0091282CJW2 1,340
4.430US TREASURYUST0070 1,000,000.00 992,220.00 02/28/20294.25005/08/2024 1,011,760.0091282CKD2 1,368
4.474US TREASURYUST0071 1,000,000.00 988,416.46 03/31/20294.12505/08/2024 1,007,500.0091282CKG5 1,399
4.421US TREASURYUST0072 1,000,000.00 1,009,000.00 04/30/20294.62505/08/2024 1,025,350.0091282CKP5 1,429
4.123US TREASURYUST0073 1,000,000.00 946,093.61 05/31/20292.75007/12/2024 957,150.0091282CES6 1,460
4.147US TREASURYUST0074 1,000,000.00 965,298.70 06/30/20293.25007/12/2024 974,650.0091282CEV9 1,490
4.062US TREASURYUST0075 1,000,000.00 903,810.93 10/31/20281.37507/12/2024 920,200.0091282CDF5 1,248 42,302,151.4342,100,550.0043,000,000.0043,266,697.33Subtotal and Average 2.477 613 121,597,549.13 104,375,284.04 3.384 582102,882,764.04 102,794,773.99Total and Average Portfolio CITY
CP
Run Date: 07/09/2025 - 09:27 PM (PRF_PM2) 7.3.11
YTM
365
Par Value Book Value
Stated
RateMarket Value
May 31, 2025
Portfolio Details - Cash
Average
BalanceIssuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
Money Market Fund
0.000UNION BANK39901 21,386,062.41 21,386,062.4121,386,062.41SYS39903-39902 1
0.00 121,597,549.13 125,761,346.45 3.384 582
1Average Balance
124,268,826.45 124,180,836.40Total Cash and Investments Portfolio CITY
CP
Run Date: 07/09/2025 - 09:27 PM (PRF_PM2) 7.3.11
PORTFOLIO PROFILE May 31, 2025 Apr 30, 2025 Mar 31, 2025 Feb 28, 2025 Jan 31, 2025 Total Book Value (Excluding Trust Funds) $102,794,774 $104,787,520 $105,531,107 $105,531,107 $111,535,013 Increase/(Decrease) from Prior Period (1,992,746) (743,587) - (6,003,906) 296,803 Percentage Change (1.9%) (0.7%) 0.0% (5.4%) 0.3%
Average Yield to Maturity (365 Days) 3.384% 3.348% 3.347% 3.350% 3.381% Increase/(Decrease) from Prior Period 0.036% 0.002% (0.004%) (0.030%) (0.012%)
PORTFOLIO ALLOCATIONS
By Security Value (Par) Percent Par YTM Time Horizon Percent LAIF* $20,375,284 19.52% 4.272% Next 12 months 40%
Medium Term Notes 22,000,000 21.1% 4.062% Months 13-24 19% Federal Agencies 19,000,000 18.2% 3.696% Months 25-36 22% U.S. Treasuries 43,000,000 41.2% 2.477% Months 37-48 17% Total $104,375,284 100.0% 3.383% Months 49-60 2%
*LAIF YTM as of May 31, 2025 BAD Total 100.0%
RECENT ACTIVITY
Security Date of Activity Maturity Date Purchase (Par) Maturing/Call YTM WMT - 3.25% Coupon 7/12/2024 7/8/2029 1,000,000 4.349%
AMZN - 3.45% Coupon 7/12/2024 4/13/2029 1,000,000 4.342% TOYOTA - 4.65% Coupon 7/12/2024 1/5/2029 1,000,000 4.650% T - 4.11% Coupon 7/12/2024 5/31/2029 1,000,000 4.123%
T - 4.11% Coupon 7/12/2024 6/30/2029 1,000,000 4.147%
T - 4.14% Coupon 7/12/2024 10/31/2028 1,000,000 4.062%
Total Purchases $6,000,000 4.279%
Matured: FFCB - 0.875% Coupon 11/18/2024 11/18/2024 1,000,000 3.250% Matured: T - 1.125% Coupon 2/28/2025 2/28/2025 1,000,000 1.001% Matured: T - 2.625% Coupon 4/15/2025 4/15/2025 1,000,000 2.750% Total Maturing/Calls $3,000,000 2.334%
City of Manhattan Beach
As of May 31, 2025
Investment Portfolio Summary
City of Manhattan Beach
As of May 31, 2025
Investment Portfolio Summary
3-Month 6-Month 2-Year 5-Year 10-YearMarch 20254.34% 4.27% 3.97% 4.04% 4.28%April 20254.32% 4.20% 3.78% 3.91% 4.28%May 20254.36% 4.30% 3.92% 4.02% 4.42%Portfolio3.384% 3.384% 3.384% 3.384% 3.384%LAIF4.272%4.272%4.272%4.272%4.272%Portfolio, 3.384%LAIF, 4.272%0.00%1.00%2.00%3.00%4.00%5.00%6.00%US Treasuries Yield Curvewww.treas.govMonthly yields are interpolated by the Treasury from the daily yield curve.
CITY OF MANHATTAN BEACH HELD TO MATURITY
Portfolio Maturity Structure Rolling 60 Months
June 2025 through May 2030
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 Jun 25 6/30/25 0.6% T nc $1.0MJun 26 6/30/26 1.18% T nc $1.0MJun 27 6/20/27 3.74% COSTnc $1.0MJun 28 6/9/28 4.48% FHLBnc $1.0MJun 29 6/30/29 4.15% T nc $1.0M 6/30/25 0.6% 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% COSTnc $1.0M
Jul 25 7/31/25 0.6% T nc $2.0MJul 26 7/31/26 0.89% T nc $1.0MJul 27 7/31/27 3.31% T nc $1.0MJul 28 Jul 29 7/8/29 4.35% WMT nc $1.0M 7/31/25 0.6% 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 0.7% T nc $1.0M 7/27/26 4.55% FFCB nc $1.0M
Aug 258/31/25 0.6% T nc $1.0MAug 268/31/26 0.91% T nc $1.0MAug 278/15/27 3.75% T nc $1.0MAug 288/31/28 4.82% T nc $1.0MAug 29 8/31/25 0.6% T nc $1.0M 8/15/26 3.29% T nc $1.0M 8/22/27 4.28% AMZN nc $1.0M 8/22/25 1.9% FFCB nc $1.0M
Sep 25 9/12/25 1.9% FHLB nc $1.0MSep 26 9/30/26 1.21% T nc $1.0MSep 27 9/12/27 4.91% AAPLnc $1.0MSep 28 9/8/28 4.86% FHLBnc $1.0MSep 29 9/23/25 2.7%FHLMC nc $2.0M 9/30/26 3.30% T nc $1.0M 9/1/27 4.59% JNJ nc $1.0M 9/30/25 1.7% T nc $2.0M 9/17/26 4.18% WMT nc $1.0M 9/1/27 3.88% JNJ nc $1.0M Oct 25 10/31/25 0.7% T nc $2.0MOct 26 10/31/26 2.58% T nc $1.0MOct 27 10/8/27 3.60% FNMAnc $1.0MOct 2810/31/28 4.06% T nc $1.0MOct 29 10/31/26 4.18% T nc $1.0M
Nov 2511/30/25 0.7% T nc $1.0MNov 26 Nov 27 Nov 28 11/1/28 4.86% FFCBnc $1.0MNov 29 11/1/25 2.9% TVA nc $1.0M
Dec 25 Dec 26 Dec 27 Dec 28 Dec 29
Jan 26 Jan 27 1/31/27 2.67% T nc $2.0MJan 28 1/29/28 4.41% BK nc $1.0MJan 29 1/5/29 4.49%TOYOTAnc $1.0MJan 30 1/31/28 3.80% T nc $2.0M 1/31/29 3.79% T nc $2.0M
1/5/29 4.65%TOYOTAnc $1.0M
Feb 26 2/24/26 1.0% MRKMW: 10 $1.0MFeb 27 2/6/27 4.16% MSFTnc $1.0MFeb 28 2/14/28 3.85%FAMCA nc $1.0MFeb 29 2/28/29 4.43% T nc $1.0MFeb 30 Mar 26 Mar 27 3/22/27 2.75% FFCBnc $2.0MMar 28 3/1/28 4.69% CL nc $2.0MMar 29 3/31/29 4.47% T nc $1.0MMar 30 3/12/27 4.05% FHLBnc $1.0M 3/15/28 4.37% KO nc $1.0M 3/9/29 4.51% FHLB nc $2.0M 3/15/28 3.56% KO nc $1.0M
Apr 26 Apr 27 Apr 28 Apr 29 4/13/29 4.34% AMZNnc $1.0MApr 30 4/30/29 4.42% T nc $1.0M
4/30/29 4.53% FFCBnc $2.0M
May 265/31/26 1.2% T nc $1.0M May 275/15/27 3.28% T nc $1.0MMay 285/10/28 4.17% AAPL nc $1.0MMay 295/31/29 4.12% T nc $1.0MMay 30 5/12/26 2.0% AMZN nc $1.0M 5/15/27 3.29% T nc $1.0M 5/17/28 4.21% MRK nc $1.0M 5/15/28 5.04% PEP nc $1.0M
Total By Year (excl LAIF) $21.0m $20.0m $23.0m $18.0m $2.0m Average YTM 1.2% 3.0% 4.0% 4.5% 4.2%
% of Total Securities (excl LAIF) 25% 24% 27% 21% 2%
% of Total Investments (incl LAIF) 40% 19% 22% 17% 2%
Total Securities 80% $84.0M
LAIF 20% $20.4M
Total Investments 100% $104.4M
Shaded rows indicate months with significant cash inflows.
City of Manhattan Beach
Investment Policy Compliance Chart
As of May 31, 2025
Instrument % of Total Limit Compliant? Limit Compliant? Limit Compliant? Local Agency Investment Fund (LAIF) $20,375,284 19.5% $75,000,000 Yes Treasury Securities
US Treasury $43,000,000 41.2% 5 Years Yes
Total U.S. Treasuries (37)TRUE $43,000,000 41.2%
Medium Term (Corporate) Notes
Coca-Cola 2,000,000 1.9% 5.0% Yes 5 Years Yes
Amazon 3,000,000 2.9% 5.0% Yes 5 Years Yes
Costco 2,000,000 1.9% 5.0% Yes 5 Years Yes
Walmart 2,000,000 1.9% 5.0% Yes 5 Years Yes
Colgate-Palmolive 2,000,000 1.9% 5.0% Yes 5 Years Yes
Pepsi Cola 1,000,000 1.0% 5.0% Yes 5 Years Yes
Total Consumer Goods Sector $12,000,000 11.0% 10.0% No
Bank of NY 1,000,000 1.0% 5.0% Yes 5 Years Yes
Toyota Motor Credit Corp 2,000,000 1.9% 5.0% Yes 5 Years Yes Total Financial Sector $3,000,000 2.9% 10.0% Yes
Johnson & Johnson 2,000,000 1.9% 5.0% Yes 5 Years Yes
Merck 2,000,000 1.9% 5.0% Yes 5 Years Yes
Total Pharmaceuticals Sector $4,000,000 3.8% 10.0% Yes
Apple Inc 2,000,000 1.9% 5.0% Yes 5 Years Yes
Microsoft Corp 1,000,000 1.0% 5.0% Yes 5 Years Yes
Total Technology Sector $3,000,000 2.9% 10.0% Yes
Total Medium Term Notes (21)TRUE $22,000,000 21.1% 20.0% No* Federal Agencies
Federal Home Loan Bank (FHLB) $7,000,000 6.7% 33.3% Yes 5 Years Yes Federal Farm Credit (FFCB) 7,000,000 6.7% 33.3% Yes 5 Years Yes Fannie Mae (FNMA) 1,000,000 1.0% 33.3% Yes 5 Years Yes
Freddie Mac (FHLMC) 2,000,000 1.9% 33.3% Yes 5 Years Yes Frarmer Mac (FAMCA) 1,000,000 1.0% 33.3% Yes 5 Years Yes Tennessee Valley Authority (TVA) 1,000,000 1.0% 33.3% Yes 5 Years Yes Total Federal Agencies (15)TRUE $19,000,000 18.2% 60.0% Yes Total Portfolio $104,375,284 100.0%
Dollar Compliance Percentage Compliance Term Compliance Temporary Suspension
*Per the City's Investment Policy, the percentage of Medium Term Notes (MTN) was in compliance when all securities were purchased. A temporary decrease in the LAIF balance has caused the percentage of MTNs to be over 20% of the total portfolio.
Investments Cash Balances by Fund
LAIF $20,375,284.04 General Fund $29,750,483.54
Treasury Securities 42,302,151.43 Street Lighting & Landscape Fund* (10,803.44) Government Agency Issues 18,882,233.29 Gas Tax Fund 5,586,878.52 Medium Term Notes 21,235,105.23 Asset Forfeiture Fund 221,394.84 Subtotal Investments $102,794,773.99 Police Safety Grants Fund 523,473.41 Grants Fund -
Investments In Transit (Cash Received 6/2/25) 996,697.43 Prop. A Fund 1,354,518.81 Prop. C Fund 1,784,087.87
Demand Deposit/Petty Cash AB 2766 Air Quality Fund 327,700.72 Cash in Bank $21,386,062.41 Measure R Fund 2,322,764.67 Petty Cash 2,317.07 Measure M Fund 1,535,257.97
$21,388,379.48 Measure W Fund 2,105,114.17
Capital Improvements Fund 11,593,704.44
Subtotal City Cash & Investments $125,179,850.90 Fire Station #2 Construction Fund 463,514.72 UUAD Construction Fund 1,520,175.09
Water Fund 10,327,831.22
Bond Funds Held in Trust Stormwater Fund 4,510,281.82
Police Fire Refunding $763.66 Sewer Fund 19,396,672.23
Fire Station 2 COPs 310.25 Parking Fund 5,829,344.52
Marine Ave Park Refunding 0.72 County Parking Lots Fund 437,657.45 Metlox & Water/Wastewater Refunding 893.23 State Pier and Parking Lot Fund 1,499,008.01 Utility Assessment Districts 1,172,442.01 Insurance Reserve Fund 16,339,990.82 Pension Obligation Bonds 7,606.76 Information Technology Fund 1,589,784.66 Subtotal Bonds Held in Trust $1,182,016.63 Fleet Management Fund 3,380,548.57 Building Maintenance & Operations Fund 32,792.52
Special Assessment Redemption Fund 1,071,370.70
Investment Trust Funds Special Assessment UAD 12 & 14 Fund 974,587.03 PARS Pension Rate Stabilization Trust 4,335,973.65 Special Assessment UAD 19-4 Fund 282,369.86 Pension Trust Fund* (135,719.27)
Special Deposits Fund 1,747,082.06
Section 115 Trust Fund 4,335,973.65
Total Treasurer's Balance $130,697,841.18 Total All Funds $130,697,841.18 * The negative cash balance in the Street Lighting & Landscape Fund will be offset by a General Fund transfers at year-end. The Pension Trust Fund typically has a negative balance at this time of year and will be reimbursed by the California Employees' Retiree Benefit Trust (CERBT) Fund in August 2025.
CITY OF MANHATTAN BEACH
TREASURER'S REPORT
May 31, 2025
Subtotal Demand Deposit
May 4.272
April 4.281
March 4.313
February 4.333
January 4.366
December 4.434
LAIF Apportionment Rate(2): 4.48
LAIF Earnings Ratio(2): 0.00012266258268207
LAIF Administrative Cost(1)*: 0.26
PMIA Average Life(1): 244
LAIF Fair Value Factor(1): 1.000849191
PMIA Daily(1): 4.30
PMIA Quarter to Date(1): 4.34
Treasuries
53.83%
Agencies
25.22%
Certificates of
Deposit/Bank Notes
9.63%
Time
Deposits
3.17%
Commercial
Paper
7.40%
Corporate
Bonds
0.61%
Loans
0.14%
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 California, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 06/11/25
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 3/31/25
Chart does not include $1,087,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
5/31/25
$166.7 billion