CITY OF PALO ALTO
MONTHLY INVESTMENT ACTIVITY REPORT
June 2025 (Unaudited)
TO:
Honorable City Council
Report Posted at the City’s Website: www.cityofpaloalto.org/investmentreporting Above Link on Council Agenda of August 4, 2025
______________________________________________________________________ The Cit
y’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: ECA0D5F2-29BA-4930-AB5E-7F8CE3FBB940 7/5/2025
7/7/2025
7/8/2025
Attachment A
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
June 1, 2025 - June 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
Texas Exchange Bank2346 NCD 0.001.000 06/13/2025 249,000.0088241THJ2 Malaga Bank FSB2402 NCD 0.000.400 11/04/2020 249,000.0056102AAQ9 First Source Bank2754 NCD 0.005.050 06/16/2025 249,000.0033646CNJ9 Anderson Bros Bank2997 NCD 0.005.100 06/09/2025 249,000.00033537BC4 Evolve Federal Cr Union Bank3000 NCD 0.005.100 06/16/2025 249,000.0030053QAA3 1,245,000.0029,320,000.00 28,075,000.00Subtotal and Balance 0.00 Corporate Medium Term Bonds
31,850,000.00 31,850,000.00Subtotal and Balance
Federal Agency Bonds
205,809,000.00 205,809,000.00Subtotal and Balance
Treasury Securities (Notes)
4,500,000.00 4,500,000.00Subtotal and Balance
Municipal Bonds
City & County of San Francisco1509 MUN 0.005.450 06/15/2025 1,000,000.00797646NC6 City & County of San Francisco1711 MUN 0.002.290 06/15/2025 2,105,000.00797646T48 City & County of San Francisco1839 MUN 0.002.290 06/15/2025 230,000.00797646T48 Santa Cruz County Capital Fin.1907 MUN 0.002.750 06/02/2025 465,000.0080181PCU9 State of Oregon1974 MUN 0.005.892 06/03/2025 118,016.3268607LXQ5 Alameda County Joint Pws Auth.2005 MUN 0.003.365 06/02/2025 505,000.00010831DS1 State of Oregon2015 MUN 0.005.892 06/03/2025 105,019.8568607LXQ5 City of Pacifica2138 MUN 0.002.563 06/02/2025 1,015,000.0069511AAS3 State of Oregon2230 MUN 0.005.892 06/03/2025 116,863.4068607LXQ5 State of Oregon2266 MUN 0.005.892 06/03/2025 236,032.6368607LXQ5 State of Oregon2679 MUN 0.005.892 06/03/2025 236,032.6868607LXQ5 City & County of San Francisco2864 MUN 0.006.000 06/15/2025 1,000,000.0079773KKQ6 State of Oregon2977 MUN 0.005.892 06/03/2025 236,137.4468607LXQ5 7,368,102.32243,513,741.43 236,145,639.11Subtotal and Balance 0.00 Portfolio CPA
AP
Run Date: 07/05/2025 - 13:02 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Attachment A
Docusign Envelope ID: ECA0D5F2-29BA-4930-AB5E-7F8CE3FBB940 Attachment A
Current
Rate
Transaction
Date Balance
Beginning
Balance
Ending
Par Value
Percent
of Portfolio
Par Value
June 1, 2025 - June 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
70,884,000.00 70,884,000.00Subtotal and Balance
0.00 8,613,102.32585,876,741.43 577,263,639.1187.200%Safekeeper Subtotal Safekeeper: Not applicable - Cash/Managed Pool Accounts LAIF & Fidelity Cash Accounts
Fidelity Investments158 41,580.064.190 0.00SYS158
Local Agency Investment Fund159 30,090,000.004.270 12,000,000.00SYS159 12,000,000.0066,607,737.93 84,739,317.99Subtotal and Balance 30,131,580.06 30,131,580.06 12,000,000.0066,607,737.93 84,739,317.9912.800%Safekeeper Subtotal 652,484,479.36 662,002,957.10Total 20,613,102.3230,131,580.06100.000% Portfolio CPA
AP
Run Date: 07/05/2025 - 13:02 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Docusign Envelope ID: ECA0D5F2-29BA-4930-AB5E-7F8CE3FBB940 Attachment A