CITY OF PALO ALTO
MONTHLY INVESTMENT ACTIVITY REPORT
November 2024 (Unaudited)
TO: Honorable City Council
Report Posted at the City’s Website: www.cityofpaloalto.org/investmentreporting Above Link on Council Agenda of December 16, 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: 089B2BDC-7BFB-4BAD-BD54-166ED5F329F5 12/1/2024
12/2/2024
12/3/2024
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
November 1, 2024 - November 30, 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
Maine Savings Credit Union2144 NCD 0.001.900 11/08/2024 245,000.00560507AN5 Third Federal Savings and Loan2157 NCD 0.001.950 11/25/2024 245,000.0088413QCK2 Kembra Financial Credit Union2731 NCD 0.005.150 11/25/2024 249,000.0048836LAV4 The District Fed Cr Union2778 NCD 0.005.150 11/22/2024 249,000.0088340AAA9 Insight Credit Union2836 NCD 0.005.100 11/27/2024 249,000.0045791JAC0 Bank of Baroda2898 NCD 0.005.050 11/15/2024 249,000.0006063HQL0 Centris Fed Credit Union Bank2903 NCD 0.005.150 11/25/2024 249,000.0015643VAA0 BANESCO USA Bank2959 NCD 0.004.950 11/14/2024 249,000.0005988ACT7 Sherwin Williams Emp CU3082 NCD 250,000.004.300 11/06/2024 0.0082436LAA3 Noble Federal Credit Union Bk3083 NCD 250,000.004.500 11/08/2024 0.0065504UAF4 JP Morgan Chase BAnk NA3087 NCD 250,000.004.600 11/01/2024 0.0046657VNZ9 1,984,000.0041,762,000.00 40,528,000.00Subtotal and Balance 750,000.00 Corporate Medium Term Bonds
35,900,000.00 35,900,000.00Subtotal and Balance
Federal Agency Bonds
Federal Agricultural Mortgage2035 0.005.250 11/20/2024 678,000.0031315PCY3 Federal Home Loan Bank2970 Call 0.006.000 11/09/2024 1,000,000.003130AYWY8 Federal Home Loan Bank3081 Call 1,500,000.005.480 11/06/2024 0.003130B3FV0 Federal Home Loan Bank3088 Call 800,000.005.300 11/04/2024 0.003130B3HR7 1,678,000.00192,422,000.00 193,044,000.00Subtotal and Balance 2,300,000.00 Treasury Securities (Notes)
4,500,000.00 4,500,000.00Subtotal and Balance
Municipal Bonds
State of Mississippi2189 MUN 0.004.511 11/01/2024 250,000.006055805V7 State of Colorado HSG & FIN Au3059 MUN 1,500,000.004.850 11/13/2024 0.0019648GSA1 250,000.00240,558,741.43 241,808,741.43Subtotal and Balance 1,500,000.00 Supranationals (World Bank) Bonds
Portfolio CPA
AP
Run Date: 12/02/2024 - 00:51 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Attachment A
Docusign Envelope ID: 089B2BDC-7BFB-4BAD-BD54-166ED5F329F5 Current
Rate
Transaction
Date Balance
Beginning
Balance
Ending
Par Value
Percent
of Portfolio
Par Value
November 1, 2024 - November 30, 2024
Activity Report
City of Palo Alto
CUSIP Investment # Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
60,250,000.00 60,250,000.00Subtotal and Balance
4,550,000.00 3,912,000.00575,392,741.43 576,030,741.4392.114%Safekeeper Subtotal Safekeeper: Not applicable - Cash/Managed Pool Accounts LAIF & Fidelity Cash Accounts
Fidelity Investments158 52,243.134.500 1,000,000.00SYS158 Local Agency Investment Fund159 13,200,000.004.490 10,300,000.00SYS159 11,300,000.0047,360,475.26 49,312,718.39Subtotal and Balance 13,252,243.13 13,252,243.13 11,300,000.0047,360,475.26 49,312,718.397.886%Safekeeper Subtotal 622,753,216.69 625,343,459.82Total 15,212,000.0017,802,243.13100.000% Portfolio CPA
AP
Run Date: 12/02/2024 - 00:51 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Docusign Envelope ID: 089B2BDC-7BFB-4BAD-BD54-166ED5F329F5 Certificate Of Completion
Envelope Id: 089B2BDC7BFB4BADBD54166ED5F329F5
Status: Completed
Subject: Complete with Docusign: 2024 11 (November) Monthly Investment Activity Report.pdf Source Envelope:
Document Pages: 3
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
12/1/2024 10:06:31 PM
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: 12/1/2024 10:08:39 PM
Viewed: 12/1/2024 10:08:51 PM
Signed: 12/1/2024 10:09:03 PM
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: 12/1/2024 10:09:05 PM
Viewed: 12/2/2024 12:56:37 PM
Signed: 12/2/2024 12:57:04 PM
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: 12/2/2024 12:57:05 PM
Viewed: 12/3/2024 9:39:05 AM
Signed: 12/3/2024 9:47:24 AM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
In Person Signer Events
Signature
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
Alyssa Ching
[email protected]
Administrative Assistant
Security Level: Email, Account Authentication
(None)
Sent: 12/3/2024 9:47:25 AM
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: 12/3/2024 9:47:26 AM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Witness Events
Signature
Timestamp
Notary Events
Signature
Timestamp
Envelope Summary Events
Status
Timestamps
Envelope Sent
Hashed/Encrypted
12/1/2024 10:08:39 PM
Certified Delivered
Security Checked
12/3/2024 9:39:05 AM
Signing Complete
Security Checked
12/3/2024 9:47:24 AM
Completed
Security Checked
12/3/2024 9:47:26 AM
Payment Events
Status
Timestamps