CITYOFPALOALTO
MONTHLYINVESTMENTACTIVITYREPORT
July2024(Unaudited)
TO: HonorableCityCouncil
ReportPostedattheCity’sWebsite:www.cityofpaloalto.org/investmentreporting AboveLinkonCouncilAgendaofSeptember9,2024
______________________________________________________________________
TheCity’sInvestmentPolicy1(Policy)andCaliforniaGovernmentCodeSection53607requiresthata reportoftransactions(investments,reinvestment,sold,andexchangedsecurities)bemadeavailable totheCouncilonamonthlybasis.
Theattachedlistoftransactions(AttachmentA)alsoincludes,thoughnotrequiredbythePolicyor the government code, security maturities and cash movement activity in the City’s two liquid operating cash pool accounts (Local Agency Investment Fund or LAIF and Fidelity accounts). Liquid cashareavailableonadailybasisbutareinvestedbythetwoentitiesinarangeofsecurities(e.g., treasuries,federalagencies,commercialpaper,corporatebonds,timedeposits,loans,andcertificate ofdeposits/banknotes).
Thisreportingrequirementisseparateanddistinctfromthequarterlyinvestmentreportsubmitted underCaliforniaGovernmentCodeSection53646thatincludesportfoliocomposition,adetailedlist of all securities, performance compared to the Policy, overall compliance with the Policy, and the City’sabilitytomeetexpenditurerequirementsoverthenextsixmonths.
Preparedby:
_______________________
TarunNarayan,
Mgr.Treasury,Debt&
Investments
________________
Date
Approvedby:
_______________________
ChristineParas,
Asst.DirectorASD
_________________
Date
______________________
LaurenLai,
ChiefFinancialOfficer
_________________
Date
1https://www.cityofpaloalto.org/files/assets/public/v/1/administrativeͲservices/investmentͲpolicies/adoptedͲinvestmentͲpolicyͲ1Ͳ39Ͳasd.pdf
City of Palo Alto
Activity Report
City of Palo Alto
Administration Svcs. Dept.
250 Hamilton Ave., 4th Floor
Palo Alto, CA 94301
(650)329-2362
Sorted By Safekeeper
July 1, 2024 - July 31, 2024
Current
Rate
Transaction
Date Balance
Beginning
Balance
Ending
Par Value
Percent
of Portfolio
Par Value
CUSIP Investment # Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
Safekeeper: Union Bank of California
Negotiable Certificates of Deposits
14,340,000.00 14,340,000.00Subtotal and Balance
Corporate Medium Term Bonds
15,500,000.00 15,500,000.00Subtotal and Balance
Federal Agency Bonds
160,908,000.00 160,908,000.00Subtotal and Balance
Treasury Securities (Notes)
3,000,000.00 3,000,000.00Subtotal and Balance
Municipal Bonds
State of Utah1731 MUN 0.004.554 07/01/2024 165,000.00917542QR6 New York St Envrnmntl Facs2007 MUN 0.002.120 07/15/2024 450,000.0064985HWS2 State of Utah2306 MUN 0.003.539 07/01/2024 403,459.05917542QV7 1,018,459.05113,496,292.18 112,477,833.13Subtotal and Balance 0.00 Supranationals (World Bank) Bonds
26,500,000.00 26,500,000.00Subtotal and Balance
0.00 1,018,459.05333,744,292.18 332,725,833.1356.362%Safekeeper Subtotal Safekeeper: U.S. Bank
Negotiable Certificates of Deposits
Raiz Federal Credit Union2798 NCD 0.004.900 07/25/2024 249,000.0075102EAC2 Cross River Bank2875 NCD 0.005.100 07/14/2024 249,000.00227563CF8 Synovus Bank2886 NCD 0.005.000 07/29/2024 249,000.0087164DVY3 747,000.0032,619,000.00 31,872,000.00Subtotal and Balance 0.00 Portfolio CPA
AP
Run Date: 08/13/2024 - 09:51 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
$WWDFKPHQW$
Current
Rate
Transaction
Date Balance
Beginning
Balance
Ending
Par Value
Percent
of Portfolio
Par Value
July 1, 2024 - July 31, 2024
Activity Report
City of Palo Alto
CUSIP Investment # Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
Safekeeper: U.S. Bank
Corporate Medium Term Bonds
12,530,000.00 12,530,000.00Subtotal and Balance
Federal Agency Bonds
35,204,594.59 35,204,594.59Subtotal and Balance
Treasury Securities (Notes)
2,500,000.00 2,500,000.00Subtotal and Balance
Municipal Bonds
SF Bay Area Rapid Transit Dist2572 MUN 0.001.971 07/01/2024 500,000.00797669ZJ0 500,000.00135,500,908.30 135,000,908.30Subtotal and Balance 0.00 Supranationals (World Bank) Bonds
23,500,000.00 23,500,000.00Subtotal and Balance
0.00 1,247,000.00241,854,502.89 240,607,502.8940.758%Safekeeper Subtotal Safekeeper: Not applicable - Cash/Managed Pool Accounts LAIF & Fidelity Cash Accounts
Fidelity Investments158 6,056,044.975.170 35,100,000.00SYS158 Local Agency Investment Fund159 15,396,435.164.530 34,700,000.00SYS159 69,800,000.0065,348,470.30 17,000,950.43Subtotal and Balance 21,452,480.13 21,452,480.13 69,800,000.0065,348,470.30 17,000,950.432.880%Safekeeper Subtotal 640,947,265.37 590,334,286.45Total 72,065,459.0521,452,480.13100.000% Portfolio CPA
AP
Run Date: 08/13/2024 - 09:51 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11