1 $391,405
2 $40,661,972
Liquid Funds Interest rate 4.73% at 12/31/24 $ 3,661,972 TERM Funds $15,000,000
TERM Funds $12,000,000
TERM Funds $10,000,000
3 $22,936,139
Ratings
Investments: Agency 17.58% AA+
US Corporate 26.68% A+
US Treasury 35.94% AA+
Money Market Fund 1.21% AAA
ABS 3.21% AAA
Supranational 4.42% AAA
Muni Bonds AAAgency CMBS 10.96% AA+
4 $ 140,287
5 $ 908
$ 195
6 $ 1
Total Investments within Ripon's Investment Policy updated in June 2023 $64,130,906 Interest rate 0.00% at 12/31/24
U S Bank
Redevelopment agency 2020 tax allocation bonds
U S Treasury - (fair value basis 1.0)
Interest rate 4.34% at 12/31/24
U S Bank
Water revenue bonds - 2006
Water revenue bonds - 2012
U S Treasury - (fair value basis 1.0)
CSJVRMA Pool - fair value
Bank of New York (book value - $22,827,987)
Interest rate 1.75% at 12/31/24
U S Treasury - (fair value basis 1.0)
Interest rate 4.36% at 12/31/24
Bank of Stockton
CAMP
Interest rate of 5.12% to mature 3/2025
Interest rate of 5.26% to mature 6/2025
Interest rate of 4.46% to mature 8/2025
As of December 31, 2024, the City’s average interest rate for the last 12 months is 1.15%.* At the end of December 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)
Interest rate 4.73% at 12/31/24
CITY OF RIPON
Investment Policy
Quarterly Report
September 01, 2024 - December 31, 2024
The City of Ripon’s investment policy was adopted by Resolution 96-63 on June 18, 1996 and amended by Resolution 03-68 on August 19, 2003 and by Resolution 23-28 on June 13, 2023. This policy provides for the legislative body of a local agency to invest all money belonging to or in the custody of the local agency in accordance with the provisions of California Government Code Sections 5922, 53601 et seq., and 53635.
This quarterly review complies with all of the elements required by California Government Code Section 53646(b).
* 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
December 31, 2024
Section 115 Trust Investments
$ 1,741,556
Capital appreciation for period ending 12/31/24 - -1.48% 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.
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).
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.
At the end of December 2024, City funds held in Section 115 Trust are listed below:
Public Agency Retirement Services
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