CITY OF PALO ALTO
MONTHLY INVESTMENT ACTIVITY REPORT
April 2025 (Unaudited)
TO: Honorable City Council
Report Posted at the City’s Website: www.cityofpaloalto.org/investmentreporting Above Link on Council Agenda of May 19, 2025
______________________________________________________________________
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: C29AECDF-CBE2-4B1F-888B-2900C6D4B15D 5/3/2025
5/5/2025
5/5/2025
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
April 1, 2025 - April 30, 2025
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
United Heritage Credit Union2711 NCD 0.004.600 05/31/2023 249,000.0091334AAC7 Carter Federal Credit Union2870 NCD 0.004.750 04/25/2025 249,000.0014622LAK8 Clearpath Federal Credit Union2881 NCD 0.005.150 05/22/2023 249,000.0018507MAA9 Bank of Old Monroe2899 NCD 0.005.000 04/24/2025 249,000.00064236BQ4 Greenway Bank3108 NCD 250,000.004.350 04/03/2025 0.00396916AC2 Morgan Stanley Bank NA3118 NCD 250,000.004.500 04/14/2025 0.0061768UU47 Diversified Members CU3127 NCD 250,000.004.400 04/30/2025 0.0025529LAE2 996,000.0030,811,000.00 30,565,000.00Subtotal and Balance 750,000.00 Corporate Medium Term Bonds
Yale University2376 MTN 0.000.873 04/15/2025 2,000,000.0098459LAA1 Yale University2511 MTN 0.000.873 04/15/2025 3,000,000.0098459LAA1 5,000,000.0036,300,000.00 31,300,000.00Subtotal and Balance 0.00 Federal Agency Bonds
Federal Farm Credit Bank .3115 1,000,000.004.375 04/03/2025 0.003133ETBB2 Federal Farm Credit Bank .3119 Call 1,500,000.005.330 04/03/2025 0.003133ER4B4 Federal Home Loan Bank3123 Call 1,500,000.005.440 04/11/2025 0.003130B5SR0 Federal Farm Credit Bank .3124 Call 1,500,000.005.450 04/17/2025 0.003133ETBS5
0.00200,149,000.00 205,649,000.00Subtotal and Balance 5,500,000.00 Treasury Securities (Notes)
4,500,000.00 4,500,000.00Subtotal and Balance
Municipal Bonds
State of Minnesota HSG FIN AGY3116 MUN 1,230,000.005.349 04/03/2025 0.0060416UQT5 State of Maryland Dept. Housin3117 MUN 1,050,000.005.438 04/03/2025 0.0057419UPL6 State of Hawaii3122 MUN 1,500,000.001.865 04/03/2025 0.00419792YY6
0.00243,493,741.43 247,273,741.43Subtotal and Balance 3,780,000.00 Supranationals (World Bank) Bonds
Intl Bk Recon & Development3120 IBRD 2,000,000.004.750 04/03/2025 0.0045906M5K3 Intl Bk Recon & Development3121 IBRD 1,500,000.003.875 04/03/2025 0.00459058KQ5 Portfolio CPA
AP
Run Date: 05/03/2025 - 21:47 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Attachment A
Docusign Envelope ID: C29AECDF-CBE2-4B1F-888B-2900C6D4B15D Current
Rate
Transaction
Date Balance
Beginning
Balance
Ending
Par Value
Percent
of Portfolio
Par Value
April 1, 2025 - April 30, 2025
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 & Development3125 IBRD 1,713,000.004.500 04/24/2025 0.0045906M4E8 Intl Bk Recon & Development3126 IBRD 1,500,000.004.125 04/24/2025 0.00459058LR2
0.0062,171,000.00 68,884,000.00Subtotal and Balance 6,713,000.00 16,743,000.00 5,996,000.00577,424,741.43 588,171,741.4390.077%Safekeeper Subtotal Safekeeper: Not applicable - Cash/Managed Pool Accounts LAIF & Fidelity Cash Accounts
Fidelity Investments158 47,235.214.190 2,500,000.00SYS158 Local Agency Investment Fund159 18,300,000.004.270 30,200,000.00SYS159 32,700,000.0079,149,678.84 64,796,914.05Subtotal and Balance 18,347,235.21 18,347,235.21 32,700,000.0079,149,678.84 64,796,914.059.923%Safekeeper Subtotal 656,574,420.27 652,968,655.48Total 38,696,000.0035,090,235.21100.000% Portfolio CPA
AP
Run Date: 05/03/2025 - 21:47 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Docusign Envelope ID: C29AECDF-CBE2-4B1F-888B-2900C6D4B15D