CITY OF PALO ALTO
MONTHLY INVESTMENT ACTIVITY REPORT
October 2024 (Unaudited)
TO: Honorable City Council
Report Posted at the City’s Website: www.cityofpaloalto.org/investmentreporting Above Link on Council Agenda of November 18, 2024
______________________________________________________________________
The City’s Investment Policy1 (Policy) and California Government Code Section 53607 requires that a report of transactions (investments, reinvestment, sold, and exchanged securities) be made available to the Council on a monthly basis.
The attached list of transactions (Attachment A) also includes, though not required by the Policy or 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 cash are available on a daily basis but are invested by the two entities in a range of securities (e.g., treasuries, federal agencies, commercial paper, corporate bonds, time deposits, loans, and certificate of deposits/bank notes).
This reporting requirement is separate and distinct from the quarterly investment report submitted under California Government Code Section 53646 that includes portfolio composition, a detailed list of all securities, performance compared to the Policy, overall compliance with the Policy, and the City’s ability to meet expenditure requirements over the next six months.
Prepared by:
_______________________
Tarun Narayan
Mgr. Treasury, Debt &
Investments
________________
Date
Approved by:
_______________________
Christine Paras
Asst. Director ASD
_________________
Date
______________________
Lauren Lai
Chief Financial Officer
_________________
Date
1 https://www.cityofpaloalto.org/files/assets/public/v/1/administrative‐services/investment‐policies/adopted‐investment‐policy‐1‐39‐asd.pdf Docusign Envelope ID: 229BAF03-3E6D-4371-BD39-9AE770539A4E 11/3/2024
11/4/2024
11/4/2024
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
October 1, 2024 - October 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: U.S. Bank
Negotiable Certificates of Deposits
Sawyer Savings Bank2710 NCD 0.004.900 10/28/2024 249,000.00805508BT4 People's Security Bank & Trust2863 NCD 0.005.450 10/30/2024 249,000.00712303BF2 Amalgamated Fin Corp Bank2867 NCD 0.005.000 10/14/2024 249,000.00022663BS6 Freedom First Fed CU Bank2868 NCD 0.004.850 10/15/2024 249,000.0035638CAE9 BOKF NA Bank2876 NCD 0.004.950 10/26/2024 249,000.0005572YGM8 RiverBank2892 NCD 0.004.950 10/12/2024 249,000.0076857RCF9 Nano Banc2896 NCD 0.004.900 10/17/2024 249,000.0063008MAW1 Eclipse Bank, Inc.2939 NCD 0.005.000 10/02/2024 249,000.0027889MAC4 Noble Federal Credit Union Bk2971 NCD 0.005.200 10/23/2024 249,000.0065504UAB3 Renasant Bank2983 NCD 0.005.000 10/23/2024 249,000.00759701BW4 Indep Bank - Grand Rapids MI3018 NCD 0.005.000 10/15/2024 249,000.0045383KTM9 Citizens State Bank Mont IA3021 NCD 0.005.000 10/13/2024 249,000.0017669VAW7 Rockland Federal Credit Union3035 NCD 240,000.004.500 10/01/2024 0.0077357DAK4 Tab Bank Inc.3039 NCD 250,000.003.700 10/11/2024 0.0089388CJK5 Skyla Federal Credit Union3042 NCD 250,000.004.150 10/08/2024 0.0083086XAA8 Wings Financial Credit Union3043 NCD 250,000.004.000 10/10/2024 0.0097412MAG4 Kennett Trust Bank3047 NCD 245,000.004.300 10/07/2024 0.00489642CW6 Workers Fed Credit Union3052 NCD 250,000.004.100 10/21/2024 0.0098138MCU2 Amerant Bank3060 NCD 250,000.003.850 10/15/2024 0.0002357QCJ4 Ally Bank3061 NCD 250,000.003.750 10/15/2024 0.0002007G3R2 First Technology Federal Credi3062 NCD 250,000.004.000 10/23/2024 0.0033715LFZ8 First Guaranty Bank3069 NCD 250,000.004.200 10/25/2024 0.00320437AP1 2,988,000.0042,265,000.00 41,762,000.00Subtotal and Balance 2,485,000.00 Corporate Medium Term Bonds
Andrew W Mellon Foundation3038 MTN 1,000,000.000.947 10/01/2024 0.0003444RAB4 Andrew W Mellon Foundation3044 MTN 870,000.000.947 10/04/2024 0.0003444RAB4 Andrew W Mellon Foundation3067 MTN 1,000,000.000.947 10/18/2024 0.0003444RAB4 Apple, Inc.3068 MTN 1,000,000.002.200 10/18/2024 0.00037833DP2 University of Chicago3080 MTN 1,500,000.004.947 10/25/2024 0.0091412NBH2 University of Chicago3085 MTN 1,500,000.004.947 10/28/2024 0.0091412NBH2
0.0029,030,000.00 35,900,000.00Subtotal and Balance 6,870,000.00 Portfolio CPA
AP
Run Date: 11/03/2024 - 12:53 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Attachment A
Docusign Envelope ID: 229BAF03-3E6D-4371-BD39-9AE770539A4E Current
Rate
Transaction
Date Balance
Beginning
Balance
Ending
Par Value
Percent
of Portfolio
Par Value
October 1, 2024 - October 31, 2024
Activity Report
City of Palo Alto
CUSIP Investment # Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
Safekeeper: U.S. Bank
Federal Agency Bonds
Federal Farm Credit Bank .1822 0.002.910 10/07/2024 500,000.003133EDWX6 Federal Home Loan Bank2794 Call 0.005.555 10/28/2024 1,094,594.593130AUJJ4 Federal Home Loan Bank2902 Call 0.006.000 10/02/2024 967,741.933130AVYF3 Federal Home Loan Bank3036 1,000,000.004.375 10/01/2024 0.003130AWGR5 Federal Farm Credit Bank .3037 1,330,000.001.910 10/01/2024 0.003133EMZF2 Federal Farm Credit Bank .3040 Call 1,000,000.005.100 10/02/2024 0.003133ERVD0 Federal Farm Credit Bank .3041 824,000.004.000 10/03/2024 0.003133EPGG4 Federal Farm Credit Bank .3045 1,000,000.004.000 10/04/2024 0.003133EPDZ5 Federal Home Loan Bank3046 1,000,000.004.750 10/07/2024 0.003130B0X87 Federal Home Loan Bank3048 Call 1,500,000.004.250 10/08/2024 0.003130B32V4 Federal Home Loan Bank3051 Call 1,000,000.005.500 10/25/2024 0.0031330B3AN3 Federal National Mortgage Asso3056 Call 1,500,000.005.100 10/17/2024 0.003135GAWG2 Federal Farm Credit Bank .3057 1,000,000.003.400 10/11/2024 0.003133ENVE7 Federal Home Loan Bank3058 1,000,000.004.500 10/11/2024 0.003130AWV23 Federal Home Loan Bank3063 1,000,000.004.750 10/17/2024 0.003130B0X87 Federal Home Loan Bank3077 1,000,000.004.750 10/24/2024 0.003130B0X87 Federal Home Loan Bank3086 Call 2,000,000.005.000 10/28/2024 0.003130B3D75 2,562,336.52178,830,336.52 192,422,000.00Subtotal and Balance 16,154,000.00 Treasury Securities (Notes)
4,500,000.00 4,500,000.00Subtotal and Balance
Municipal Bonds
State of Texas2311 MUN 0.002.899 10/01/2024 250,000.008827237N3 State of Georgia2332 MUN 0.003.820 10/01/2024 1,000,000.00373384RW8 Los Angeles Cnty Met Tran Auth2641 MUN 0.005.130 10/30/2024 1,000,000.005447122K7 Los Altos Elementary Sch Distr2681 MUN 0.001.000 10/01/2024 500,000.00544290JH3 City of Fairfield3049 MUN 1,000,000.004.750 10/08/2024 0.0030421VBQ1 City of Fairfield3050 MUN 995,000.004.750 10/08/2024 0.0030421VBQ1 San Francisco Cmnty Facs Dist3053 MUN 1,150,000.004.038 10/10/2024 0.0079772ECR8 City of Corona3054 MUN 1,000,000.001.863 10/10/2024 0.0021969AAG7 San Francisco Cmnty Facs Dist3066 MUN 500,000.003.500 10/18/2024 0.0079772EBF5 County of Riverside Pen Oblg3074 MUN 255,000.003.120 10/24/2024 0.0076913CBD0 City of Chula Vista3075 MUN 500,000.001.828 10/24/2024 0.0017131RAZ9 County of Santa Clara3076 MUN 500,000.004.800 10/24/2024 0.00801546SS2 State of Georgia3084 MUN 1,500,000.005.114 10/25/2024 0.00373384PD2 2,750,000.00235,908,741.43 240,558,741.43Subtotal and Balance 7,400,000.00 Portfolio CPA
AP
Run Date: 11/03/2024 - 12:53 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Docusign Envelope ID: 229BAF03-3E6D-4371-BD39-9AE770539A4E Current
Rate
Transaction
Date Balance
Beginning
Balance
Ending
Par Value
Percent
of Portfolio
Par Value
October 1, 2024 - October 31, 2024
Activity Report
City of Palo Alto
CUSIP Investment # Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
Safekeeper: U.S. Bank
Supranationals (World Bank) Bonds
Intl Bk Recon & Development3055 IBRD 1,000,000.003.875 10/16/2024 0.00459058LN1 Intl Bk Recon & Development3064 IBRD 1,500,000.003.875 10/18/2024 0.00459058LN1 Intl Bk Recon & Development3065 IBRD 1,500,000.004.750 10/18/2024 0.0045906M5K3 Intl Bk Recon & Development3070 IBRD 1,750,000.004.500 10/22/2024 0.0045906M4E8 Intl Bk Recon & Development3071 IBRD 1,500,000.005.500 10/23/2024 0.0045906M5A5 International Finance Corp.3072 IFC 1,000,000.004.250 10/23/2024 0.0045950KDH0 Inter-American Dev. Bank3073 IADB 1,000,000.003.600 10/23/2024 0.0045818WFZ4 International Finance Corp.3078 IFC 1,000,000.004.250 10/24/2024 0.0045950KDH0 Inter-American Dev. Bank3079 IADB 1,000,000.003.600 10/24/2024 0.0045818WFZ4
0.0049,000,000.00 60,250,000.00Subtotal and Balance 11,250,000.00 44,159,000.00 8,300,336.52539,534,077.95 575,392,741.4392.395%Safekeeper Subtotal Safekeeper: Not applicable - Cash/Managed Pool Accounts LAIF & Fidelity Cash Accounts
Fidelity Investments158 3,546,154.544.810 0.00SYS158
Local Agency Investment Fund159 16,721,857.374.480 29,000,000.00SYS159 29,000,000.0056,092,463.35 47,360,475.26Subtotal and Balance 20,268,011.91 20,268,011.91 29,000,000.0056,092,463.35 47,360,475.267.605%Safekeeper Subtotal 595,626,541.30 622,753,216.69Total 37,300,336.5264,427,011.91100.000% Portfolio CPA
AP
Run Date: 11/03/2024 - 12:53 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Docusign Envelope ID: 229BAF03-3E6D-4371-BD39-9AE770539A4E Certificate Of Completion
Envelope Id: 229BAF033E6D4371BD399AE770539A4E
Status: Completed
Subject: Complete with Docusign: 2024 10 (October) Monthly Investment Activity Report.pdf Source Envelope:
Document Pages: 4
Signatures: 3
Envelope Originator:
Certificate Pages: 2
Initials: 0
Tarun Narayan
AutoNav: Enabled
EnvelopeId Stamping: Enabled
Time Zone: (UTC-08:00) Pacific Time (US & Canada)
250 Hamilton Ave
Palo Alto , CA 94301
[email protected]
IP Address: 199.33.32.254
Record Tracking
Status: Original
11/3/2024 10:04:50 AM
Holder: Tarun Narayan
[email protected]
Location: DocuSign
Security Appliance Status: Connected
Pool: StateLocal
Storage Appliance Status: Connected
Pool: City of Palo Alto
Location: DocuSign
Signer Events
Signature
Timestamp
Tarun Narayan
[email protected]
Manager of Treasury, Debt & Investment
City of Palo Alto
Security Level: Email, Account Authentication
(None)
Signature Adoption: Pre-selected Style
Using IP Address: 199.33.32.254
Sent: 11/3/2024 10:07:49 AM
Viewed: 11/3/2024 10:08:00 AM
Signed: 11/3/2024 10:08:08 AM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Christine Paras
[email protected]
Asst. Director Administrative Services
City of Palo Alto
Security Level: Email, Account Authentication
(None)
Signature Adoption: Uploaded Signature Image
Using IP Address: 174.160.134.173
Sent: 11/3/2024 10:08:09 AM
Viewed: 11/4/2024 11:51:29 AM
Signed: 11/4/2024 11:51:40 AM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Lauren Lai
[email protected]
Director Administrative Services/CFO
COPA
Security Level: Email, Account Authentication
(None)
Signature Adoption: Drawn on Device
Using IP Address: 199.33.32.254
Sent: 11/4/2024 11:51:42 AM
Viewed: 11/4/2024 12:20:12 PM
Signed: 11/4/2024 12:26:33 PM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
In Person Signer Events
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Timestamp
Editor Delivery Events
Status
Timestamp
Agent Delivery Events
Status
Timestamp
Intermediary Delivery Events
Status
Timestamp
Certified Delivery Events
Status
Timestamp
Carbon Copy Events
Status
Timestamp
Richard Claeys
[email protected]
City of Palo Alto
Security Level: Email, Account Authentication
(None)
Sent: 11/4/2024 12:26:34 PM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Alyssa Ching
[email protected]
Administrative Assistant
Security Level: Email, Account Authentication
(None)
Sent: 11/4/2024 12:26:35 PM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Josh Martinez
[email protected]
Administrative Associate III
City of Palo Alto
Security Level: Email, Account Authentication
(None)
Sent: 11/4/2024 12:26:36 PM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Witness Events
Signature
Timestamp
Notary Events
Signature
Timestamp
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Status
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Envelope Sent
Hashed/Encrypted
11/3/2024 10:07:49 AM
Certified Delivered
Security Checked
11/4/2024 12:20:12 PM
Signing Complete
Security Checked
11/4/2024 12:26:33 PM
Completed
Security Checked
11/4/2024 12:26:36 PM
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