CITY OF PALO ALTO
MONTHLY INVESTMENT ACTIVITY REPORT
May 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 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: BD1BBA03-41B6-4333-9B8D-93B80E53B903 6/10/2025
6/10/2025
6/11/2025
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
May 1, 2025 - May 31, 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
Mountain America FD Credit Uni2719 NCD 0.004.850 05/09/2025 249,000.0062384RAR7 Lafayette Federal Credit Union2879 NCD 0.003.100 05/27/2025 249,000.0050625LBG7 Huntington National Bank2891 NCD 0.004.800 05/05/2025 249,000.00446438SB0 MI Bank2960 NCD 0.004.750 05/01/2025 249,000.0059319LAS4 Intracoastal Bank2995 NCD 0.005.000 05/06/2025 249,000.0046117YAC2 1,245,000.0030,565,000.00 29,320,000.00Subtotal and Balance 0.00 Corporate Medium Term Bonds
Apple, Inc.3129 MTN 550,000.003.350 05/01/2025 0.00037833CJ7
0.0031,300,000.00 31,850,000.00Subtotal and Balance 550,000.00 Federal Agency Bonds
Federal National Mortgage Asso3056 Call 0.005.100 05/10/2025 1,500,000.003135GAWG2 Federal Home Loan Bank3128 1,660,000.004.375 05/01/2025 0.003130AV5P3 1,500,000.00205,649,000.00 205,809,000.00Subtotal and Balance 1,660,000.00 Treasury Securities (Notes)
4,500,000.00 4,500,000.00Subtotal and Balance
Municipal Bonds
University of California2077 MUN 0.003.050 05/15/2025 1,500,000.0091412GQG3 University of California2095 MUN 0.003.050 05/15/2025 1,000,000.0091412GQG3 San Diego Cnty Wtr Authority2600 MUN 0.000.743 05/01/2025 210,000.00797412DM2 State of Wisconsin 22822 MUN 0.005.700 05/01/2025 305,000.00977100AC0 San Diego Cnty Wtr Authority3024 MUN 0.000.743 05/01/2025 745,000.00797412DM2 3,760,000.00247,273,741.43 243,513,741.43Subtotal and Balance 0.00 Supranationals (World Bank) Bonds
Intl Bk Recon & Development3130 IBRD 2,000,000.005.170 05/01/2025 0.0045906M5H0
0.0068,884,000.00 70,884,000.00Subtotal and Balance 2,000,000.00 4,210,000.00 6,505,000.00588,171,741.43 585,876,741.4389.792%Safekeeper Subtotal Portfolio CPA
AP
Run Date: 06/10/2025 - 05:22 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Attachment A
Docusign Envelope ID: BD1BBA03-41B6-4333-9B8D-93B80E53B903 Current
Rate
Transaction
Date Balance
Beginning
Balance
Ending
Par Value
Percent
of Portfolio
Par Value
May 1, 2025 - May 31, 2025
Activity Report
City of Palo Alto
CUSIP Investment # Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
Safekeeper: Not applicable - Cash/Managed Pool Accounts LAIF & Fidelity Cash Accounts
Fidelity Investments158 42,900.324.190 1,500,000.00SYS158 Local Agency Investment Fund159 14,200,000.004.270 11,650,000.00SYS159 13,150,000.0065,514,837.61 66,607,737.93Subtotal and Balance 14,242,900.32 14,242,900.32 13,150,000.0065,514,837.61 66,607,737.9310.208%Safekeeper Subtotal 653,686,579.04 652,484,479.36Total 19,655,000.0018,452,900.32100.000% Portfolio CPA
AP
Run Date: 06/10/2025 - 05:22 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Docusign Envelope ID: BD1BBA03-41B6-4333-9B8D-93B80E53B903