JjY 22024 Wh Quar er Investment Report
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Agenda Item 12 . 13
By Nadia Feeser, City Treasurer
=0• Meeting Date: August 20, 2024
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• Purpose : Government Code Section 53646 — City Treasurer required to submit a quarterly report about City's investments.
• Compliance with Investment Policy
• Investment Holdings
• Portfolio Allocation .
• Liquidity
• Book and Market Value
• Investment Earnings
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• Future Outlook
Investment Holdings Year-to-Date
Actual Interest Interest
Current Earned 4th Earned
Earnings Book Value Quarter Ending Ending
Investment Name Name of Institution Type of Investment Rate as of 6/30/24 6/30/24 6/30/24 General Fund Reserves US Bank CDs/GASs/Corp 2.07% avg 8,148,980 $ 40,742 $ 149,657 Bonds/Muni Bonds
City Pooled Funds -A US Bank CDs/GASs/Corp 3.00% avg 34,591,551 168,612 1,221,404 Bonds/Muni Bonds/
US Treasury Note
Total All Securities $ 42,740,531 $ 209,355 $1,371,062 City Pooled Funds - B US Bank Custody 0.00% $ - $ 4,227 $ 11,817 City Pooled Funds- B Local Agency Invest. State Investment Pool 4.55% 5,263,562 62,811 575,450 Fund
City Pooled Funds - B US Bank Checking 4.90% 28,603,597 356,080 382,009 City Pooled Funds - B $ 33,867,158 $ 423,119 $ 969,276 City Pooled Funds total A+ B $ 68,458,709 $ 591,731 $2,190,680 Funds Held with Fiscal Bond funds: Wilmington 2017 Pier Project $ 366 $ 371 $ 964 Agent Trust
Funds Held with Fiscal Bond funds: Wilmington 2017B CREBs 218 227 737 Agent Trust
Calpers Benefit Trust
OPEB Trust Account CaIPERS Benefit Trust Various managed by $ 5,500,858 $ - $ 496,152 Account CalPERS
TOTAL, Cash and Investments at June 30, 2024: $ 82,109,131 $ 633,071 $2,838,191 TYOF TOTAL for City Managed Portfolio, Cash and Investments: $ 76,607,689 $ 632,473 $2,340,338 ***OPEB 4th quarter interest earnings not reported as of 8/9/24.
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Yield Curve as of August 16, 2024
`field Curve US
5.50%
4_50%
4_00%
3.50%
1 m 3 ra 6 m 1 y 2V Syr 4y 5y 1 Oyr 15y 2Oyr 3Oyr Current Year Ago
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0 Investment Portfolio as of June 30, 2024
Issues of Other
Local Agency Corpora0te Bond, California
Investment 3% entities, 3%
Maximum Book Value as % of Fund, 7%
Financial Instrument % of 6/30/24 Portfolio
Checking Account 100% $ 28,603,597 37% "'46 Negotiable Certificates of Deposit 30% 16,430,363 21% US Treasury US Government Agency Obligations 50% 13,750,000 18% Issues, 10°/ US Treasury Issues 100% 8,003,991 10% Checking Local Agency Investment Fund 100% 5,263,562 7% Account, 37% Corporate Bond 30% 2,591 ,143 3%
Issues of Other California entities 30% 1 ,965,035 3% US Governmen - $ 76,607,689 100% Agency
Bond funds: Wilmington Trust $ 584 Obligations, OPEB Trust Account 5,500,858 18%
Total Book Value $ 82,109,131 Negotiable Certificates of
Deposit, 21 %
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Investment Liquidityas of June 30 2024
Liquidity Amount
0 to 30 days $ 33,867,158
FY 2025 17,215,169 FY 2029
FY 2026 8,250,000
FY 2027 9,170,363 FY 2028
FY 2028 6,145,000
FY 2029 1 ,960,000 FY 2027
$ 76,607,689
FY 2026
FY 2025
0 to 30 days
0 10,000 20,000 30,000 40,000
Portfolio Amount ($ thousands)
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Book
Book Value as Book Value as of
Investment Name Type of Investment of 6/30/24 3/31/24 Variance General Fund Reserve CDs/CASs/Corp $ 8,148,980 $ 7,658,980 $ 490,000 Bonds/Muni Bonds
City Pooled Funds - A CDs/GASs/ Corp 34,591 ,551 34,736,551 (145,000) Bonds/ Muni Bonds/
US Treasury Note
City Pooled Funds - B Various 33,867,158 33,815,659 51 ,499 Bond funds Blackrock Federal 584 1 ,607 (1 ,023) Fund
OPEB Trust Account Benefit Trust Account 5,500,858 5,500,858 - TOTAL $ 82,109,131 $ 81,713,656 $ 395,476 A
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Market Value
Book Value as of Market Value as
Investment Name Type of Investment 6/30/24 of 6/30/24 Variance General Fund Reserve CDs/GASs/ Corp $ 8,148,980 $ 7,757,294 $ (391 ,686) Bonds/ Muni Bonds
City Pooled Funds - A CDs/GASs/ Corp 34,591 ,551 33,576,698 (1 ,014,853) Bonds/ Muni
Bonds/US Treasury
Total All Securities $ 425740,531 $ 41,333,992 $ (1,406,539) 'y OF I I
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Investment
EarningF---,w
AL
Actual
Interest Actual Annual Actual Annual
Book Value Earned 4th Interest Interest
Investment Name Type of Investment as of 6/30/24 Quarter Earnings Earnings Rate General Fund Reserves CDs/GASs/Corp $ 8,148,980 $ 40,742 $ 149,657 1 .84% Bonds/Muni Bonds
City Pooled Funds - A CDs/GASs/ Corp 34,591 ,551 168,612 1 ,221 ,404 3.53% Bonds/ Muni Bonds/
US Treasury Note
City Pooled Funds - B Various 33,867,158 423,119 969,276 2.86% Bond funds Wilmington Trust 584 597 1 ,702 291 .38% OPEB Trust Account* Benefit Trust 5,500,858 - 496,152 9.02% Account
TOTAL $82,109,131 $ 633,071 $ 2,838,191 3.46% Total Managed Portfolio $76,607,689 $ 6327473 $ 2,3407338 3.05% *OPEB 4th quarter interest earnings not reported as of 8/9/2024.
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Investment Performance
Performance Measure
Earnings
Rate
City's Annual Earnings Rate for entire Portfolio 3.46% City's Annual Earnings Rate for Managed Portfolio 3.05% LAIF Average Annual Earnings Rate 4.55%
1 -Year U .S. Treasury Note 5. 12%
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Future Outlook
0 $38 M in bond proceeds in July 2024 for Public Safety Facility 2024 Lease Revenue Bonds Rates will likely decrease in September and possibly December 00**** Federal Open Market Committee — desire to achieve 2% inflation target Likely lower rates, will shift more investments to mature in future years rather than 0 to 30 days 3 to 5 years rates already reduced
Work with Investment Advisor to ensure compliance, improve earnings Y OF
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