1 $382,502
2 $34,909,221
Liquid Funds Interest rate 5.43% at 06/30/24 $ 7,909,221 TERM Funds $15,000,000
TERM Funds $12,000,000
3 $32,050,752
Ratings
Investments: Agency 15.21% AA+
US Corporate 25.80% A+
US Treasury 32.98% AA+
Money Market Fund 9.48% AAA
ABS 3.71% AAA
Supranational 3.40% AAA
Muni Bonds 0.84% AA‐
Agency CMBS 8.58% AA+
4 $ 121,475
5 $ 403
$ 191
6 $ ‐
Total Investments within Ripon's Investment Policy updated in June 2023 $67,464,543 Interest rate 4.81% at 06/30/24
CITY OF RIPON
Investment Policy
Annual Report
July 01, 2023 ‐ June 30, 2024
The City of Ripon’s investment policy was adopted by Resolution 96‐63 on June 18, 1996 and amended by This annual review complies with all of the elements required by California Government Code Section As of June 30, 2024, the City’s average interest rate for the last 12 months is 3.57%.* At the end of June 2024, City funds are held in the following investments as listed:
Investments within Ripon's Investment Policy
State Treasurer ‐ LAIF ‐ (fair value basis 1.0)
Bank of Stockton
CAMP
Interest rate of 5.26% to mature 6/2025
Interest rate of 5.12% to mature 3/2025
CSJVRMA Pool ‐ fair value
Bank of New York (book value ‐ $32,599,724)
Interest rate 2.18% at 06/30/24
U S Treasury ‐ (fair value basis 1.0)
Interest rate 4.88% at 06/30/24
Interest rate 0.00% at 06/30/24
U S Bank
Redevelopment agency 2020 tax allocation bonds
U S Treasury ‐ (fair value basis 1.0)
Interest rate 5.19% at 06/30/24
U S Bank
Water revenue bonds ‐ 2006
Water revenue bonds ‐ 2012
U S Treasury ‐ (fair value basis 1.0)
* The City of Ripon financial information is on a cash basis, so this rate includes only interest that has been earned. CAMP TERM Funds are not earned until maturity.
Investment Report
June 30, 2024
Section 115 Trust Investments
$ 1,520,041
Conclusion
Respectfully Submitted,
Lisa Roos
Lisa Roos
City Clerk/Finance Director
Based upon the Treasurer’s report, the entire investment porfolio of the City of Ripon is in FULL COMPLIANCE with the 2023 City of Ripon Investment Policy, the California Government Code, and/or the 2022 Section 115 Trust investment guidelines, whichever is applicable.
In addition, the City of Ripon has investments in a Section 115 Trust as it's CalPERS Contingency Fund. These funds are managed and must follow the investment guidelines adopted by the City Council on September 13, 2022 by Resolution 22‐39. This investment policy includes the City's risk tolerance, investment amounts and how the Section 115 Trust principal and earnings is to be used to fund CalPERS obligations.
Public Agency Retirement Services
Interest rate 11.83% at 06/30/24
This report certifies that all investment actions executed prior to this report have been made in full compliance with the City of Ripon Investment Policies. This report also certifies that the City of Ripon will meet its expenditure obligations for the next six months as required by California Government Code Section 53646(b)(2) and (3).
At the end of June 2024, City funds held in Section 115 Trust are listed below:
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