City of Sacramento
City Council - 5PM Report
915 I Street Sacramento, CA 95814
www.cityofsacramento.org
File ID: 2024-00471 3/26/2024 Consent Item 1.
Feb 2024 Monthly Investment Transactions Report
File ID: 2024-00471
Location: Citywide
Recommendation: Receive and file.
Contact: Stacy Hussey, Chief Investment Officer, (916) 808-7746, [email protected], Office of the City Treasurer
Presenter: None.
Attachments:
1-Description/Analysis
2-Attachments A to F
Description/Analysis
Issue Detail: The City Treasurer provides monthly reports to the City Council on current investment activity.
Policy Considerations: The City Treasurer routinely reports on monthly investment transactions to keep the City Council advised of current investment activity.
Economic Impacts: None.
Environmental Considerations: This action is not a project that is subject to California Environmental Quality Act (CEQA) because it is an administrative activity that will not result in direct or indirect physical changes in the environment and because it relates to government fiscal activities that do not involve any commitment to any specific project that may result in a potentially significant physical impact on the environment. (CEQA Guidelines § 15378 (a), (b)(2), and (b)(5)).
Sustainability: None.
Commission/Committee Action: None.
File ID: 2024-00471 3/26/2024 Consent Item 1.
Rationale for Recommendation: The City Treasurer is responsible for depositing and investing funds in the City treasury and for reporting on investment activity in accordance with the authority granted by City Charter Section 73, City Council ordinances and resolutions, and applicable state law. Consistent with the City of Sacramento Investment Policy which is updated annually by City Treasurer’s Office staff and was most recently adopted by City Council on January 23,2024, the monthly report herein lists the transactions as required by California Government Code section 53607. For informational purposes, the City Treasurer also reports on investment transactions of other funds invested by City Treasurer’s Office staff. The summary and transaction detail for the month ended February 29, 2024, are listed in Attachments A, B, C, D, E and F.
Financial Considerations: The monthly investment report sets forth the monthly transactions of the City Treasurer’s Office Investment Pool A funds. The market value of the Pool A investment portfolio (Portfolio) on January 31 was $1,501,777,693, while the market value of the Portfolio on February 29 was $1,563,120,122. The yield of the Portfolio in February was 2.90%. There were 23 total transactions for the period (12 purchases, 3 calls and 8 maturities). The estimated duration of the Portfolio as of February 29, 2024, is 1.42 years.
Local Business Enterprise (LBE): Not applicable.
Local Agency Funds:
Pool A Ethel Hart Trust Public Trust George Clark Total Purchases 93,547,010$ -$ -$ -$ 93,547,010$
Sales - - - - -
Calls 16,476,050 - - - 16,476,050
Maturities 37,331,840 - - - 37,331,840
Contributions 185,913,808 - - - 185,913,808
Withdrawals 124,594,661 11,462 - 2,525 124,608,648 Total 457,863,369$ 11,462$ -$ 2,525$ 457,877,356$ Outside Agency Funds:
Sacramento City Employees' Retirement System (SCERS) Funds:
Fixed Bonds Equity Income Large Cap International Total Purchases -$ -$ 74,512$ -$ 74,512$
Sales - - 187,472 - 187,472
Calls - - - - -
Maturities 32,959 - - - 32,959
Expenses 8 - - - 8
Contributions - - - - -
Withdrawals 267,142 16,589 13,342 980 298,053
Total 300,109$ 16,589$ 275,326$ 980$ 593,004$ City of Sacramento
Summary of Transactions
February-24
ATTACHMENT A
City of Sacramento
Summary of Transactions
February-24
ATTACHMENT A
SHRA Investment Pool Fund:
Pool D Total
Purchases 1,000,000$ 1,000,000$
Sales - -
Calls 500,000 500,000
Maturities 783,631 783,631
Contributions - -
Withdrawals - -
Total 2,283,631$ 2,283,631$
Capitol Area Development Authority (CADA) Funds:
CADA CADA-A CADA-B CADA-C Total
Contributions -$ -$ -$ -$ -$
Withdrawals - - - - -
Total -$ -$ -$ -$ -$
All Other Funds:
ARFCD RD SPLA SPLA-T TNBC Total
Purchases -$ -$ -$ -$ -$ -$
Sales - - - - - -
Calls - - - - - -
Maturities - - - - - -
Contributions - - 6,351,941 - - 6,351,941
Withdrawals - - - - - -
Total -$ -$ 6,351,941$ -$ -$ 6,351,941$
GRAND TOTAL 467,105,932$
City of Sacramento
TRANSACTION SUMMARY
City Investment Pool A
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
PURCHASES
02-02-24 10,000,000 Pfizer Inc 97.43 9,743,056
5.000% Due 08-05-24
02-02-24 5,000,000 Freddie Mac 100.00 5,000,000
5.375% Due 02-08-27
02-05-24 5,000,000 Federal Home Loan Bank 97.27 4,863,468
4.990% Due 08-20-24
02-05-24 9,000,000 Federal Farm Credit Bank 96.73 8,705,610
1.320% Due 01-21-25
02-06-24 9,000,000 U. S. Treasury Bill 96.15 8,653,624
4.665% Due 11-29-24
02-08-24 8,000,000 Cisco Systems Inc. 97.32 7,785,573
5.160% Due 08-13-24
02-13-24 9,000,000 U. S. Treasury Bill 98.28 8,845,422
5.110% Due 06-13-24
02-15-24 9,000,000 Private Export Funding Corp 98.00 8,820,000
3.250% Due 06-15-25
02-26-24 9,000,000 MUFG 96.97 8,727,480
2.193% Due 02-25-25
02-27-24 6,000,000 Cisco Systems Inc. 97.27 5,836,200
5.200% Due 09-03-24
02-27-24 10,000,000 Metlife Short Term Fund 97.42 9,742,500
5.150% Due 08-26-24
02-27-24 7,000,000 Pepsico Inc 97.49 6,824,076
5.170% Due 08-20-24
TOTAL 93,547,010
ATTACHMENT B
City of Sacramento
TRANSACTION SUMMARY
City Investment Pool A
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss CALLS
02-13-24 5,000,000 Federal Farm Credit Bank 100.00 5,000,000 100.00 5,000,000 0
5.620% Due 11-13-25
02-25-24 6,500,000 Freddie Mac 99.67 6,478,550 4,441 100.00 6,500,000 17,009
6.000% Due 08-25-25
02-27-24 5,000,000 Freddie Mac 99.95 4,997,500 151 100.00 5,000,000 2,349
6.000% Due 11-27-28
TOTAL 16,476,050 16,500,000 19,358
City of Sacramento
TRANSACTION SUMMARY
City Investment Pool A
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
MATURITIES
02-01-24 520,000 California Statewide Cmntys De 100.00 520,000 100.00 520,000 0
0.514% Due 02-01-24
02-01-24 2,970,000 Virginia College Bldg Auth Va 100.00 2,970,000 100.00 2,970,000 0
2.910% Due 02-01-24
02-06-24 10,000,000 Microsoft Corp 98.89 9,888,800 111,200 100.00 10,000,000 0
2.875% Due 02-06-24
02-09-24 5,000,000 Federal Farm Credit Bank 100.00 5,000,000 100.00 5,000,000 0
1.230% Due 02-09-24
02-22-24 4,000,000 Mercedes-Benz Finance NA 98.83 3,953,040 46,960 100.00 4,000,000 0
3.650% Due 02-22-24
02-26-24 5,000,000 Federal Home Loan Bank 100.00 5,000,000 100.00 5,000,000 0
5.000% Due 02-26-24
02-27-24 5,000,000 Federal Home Loan Bank 100.00 5,000,000 100.00 5,000,000 0
5.050% Due 02-27-24
02-29-24 5,000,000 JP Morgan Chase Financial Co LLC 100.00 5,000,000 100.00 5,000,000 0
5.000% Due 02-29-24
TOTAL 37,331,840 37,490,000 0
City of Sacramento
TRANSACTION SUMMARY
City Investment Pool A
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
CONTRIBUTIONS
02-01-24 JP Morgan Chase Cash 25,975
02-02-24 JP Morgan Chase Cash 97,701,679
02-02-24 Fidelity Fund 6,051,270
02-05-24 JP Morgan Chase Cash 2,398,330
02-06-24 JP Morgan Chase Cash 6,989,817
02-07-24 JP Morgan Chase Cash 1,736,595
02-08-24 JP Morgan Chase Cash 107
02-08-24 JP Morgan Chase Cash 3,373
02-09-24 JP Morgan Chase Cash 4,220,535
02-12-24 JP Morgan Chase Cash 2,588,524
02-13-24 JP Morgan Chase Cash 2,323,220
02-14-24 JP Morgan Chase Cash 2,919,616
02-16-24 JP Morgan Chase Cash 3,350
02-20-24 JP Morgan Chase Cash 3,935,259
02-21-24 JP Morgan Chase Cash 7,555,414
02-21-24 JP Morgan Chase Cash 67
02-23-24 JP Morgan Chase Cash 7,024,099
02-26-24 JP Morgan Chase Cash 28,298,170
02-28-24 JP Morgan Chase Cash 4,130,864
02-29-24 JP Morgan Chase Cash 7,675,901
02-29-24 Fidelity Fund 4,676
02-29-24 Fidelity Fund 2,525
02-29-24 Fidelity Fund 32,750
02-29-24 Fidelity Fund 274,122
02-29-24 Fidelity Fund 16,589
02-29-24 Fidelity Fund 980
TOTAL 185,913,808
City of Sacramento
TRANSACTION SUMMARY
City Investment Pool A
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
WITHDRAWALS
02-01-24 JP Morgan Chase Cash 21,190,867
02-02-24 JP Morgan Chase Cash 2,229,490
02-02-24 Fidelity Fund 6,051,270
02-05-24 JP Morgan Chase Cash 1,914,142
02-06-24 JP Morgan Chase Cash 17,376,111
02-07-24 JP Morgan Chase Cash 7,379,511
02-08-24 JP Morgan Chase Cash 1,780,438
02-09-24 JP Morgan Chase Cash 2,286,080
02-12-24 JP Morgan Chase Cash 1,809,961
02-13-24 JP Morgan Chase Cash 3,293,866
02-14-24 JP Morgan Chase Cash 2,021,468
02-15-24 JP Morgan Chase Cash 4,397,918
02-16-24 JP Morgan Chase Cash 7,100,863
02-20-24 JP Morgan Chase Cash 16,238,823
02-21-24 JP Morgan Chase Cash 9,062,598
02-22-24 JP Morgan Chase Cash 2,376,520
02-23-24 JP Morgan Chase Cash 2,691,787
02-26-24 JP Morgan Chase Cash 2,526,156
02-27-24 JP Morgan Chase Cash 8,009,306
02-28-24 JP Morgan Chase Cash 1,953,993
02-29-24 JP Morgan Chase Cash 2,903,491
TOTAL 124,594,661
City of Sacramento
TRANSACTION SUMMARY
Ethel Hart Mutual Endowment Fund
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss No transactions were found!
City of Sacramento
TRANSACTION SUMMARY
Ann Land/Bertha Henschel Endowment Fund
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
WITHDRAWALS
02-29-24 Pool A Cash 11,462
TOTAL 11,462
City of Sacramento
TRANSACTION SUMMARY
George H. Clark Memorial Scholarship Fund
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
WITHDRAWALS
02-29-24 Pool A Cash 2,525
TOTAL 2,525
City of Sacramento
TRANSACTION SUMMARY
Fixed Bonds
SCERS
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
MATURITIES
02-01-24 25,441 Walgreens Drugs/Adahi, Inc 100.00 25,441 100.00 25,441 0
6.500% Due 05-01-24
02-15-24 95 Gnma Pool #439515 98.06 93 100.00 95 2
7.000% Due 03-15-27
02-15-24 1,064 Gnma Pool #550718 97.31 1,035 100.00 1,064 29
5.000% Due 11-15-35
02-15-24 372 Gnma Pool #648348 99.66 371 100.00 372 1
5.500% Due 10-15-35
02-26-24 2,552 Freddie Mac Pool #SD8278 101.37 2,587 100.00 2,552 -35
6.000% Due 12-01-52
02-26-24 3,303 Freddie Mac Pool #SD8343 100.06 3,306 100.00 3,303 -2
6.000% Due 07-01-53
02-26-24 127 Fannie Mae Pool #256393 99.67 127 0 100.00 127 0
6.000% Due 09-01-36
TOTAL 32,959 32,954 -5
ATTACHMENT C
City of Sacramento
TRANSACTION SUMMARY
Fixed Bonds
SCERS
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
EXPENSES
02-01-24 Portfolio Investment Fees Payable 8
TOTAL 8
City of Sacramento
TRANSACTION SUMMARY
Fixed Bonds
SCERS
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
WITHDRAWALS
02-29-24 Pool A Cash 267,142
TOTAL 267,142
City of Sacramento
TRANSACTION SUMMARY
Equity Income
SCERS
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
WITHDRAWALS
02-29-24 Pool A Cash 16,589
TOTAL 16,589
City of Sacramento
TRANSACTION SUMMARY
Large Cap Growth
SCERS
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
PURCHASES
02-01-24 100 Vaneck Etf Tru Cll Opt200.0000 02162024 0.44 4,394 02-01-24 -100 Vaneck Etf Tru Cll Opt205.0000 03152024 1.23 -12,338 02-02-24 -60 Amazon Com Inc Cll Opt185.0000 03152024 1.18 -7,078 02-02-24 -24 Meta Platforms Cll Opt510.0000 03152024 7.70 -18,491 02-09-24 -70 Alphabet Inc Cll Opt 160.0000 03152024 0.73 -5,108 02-09-24 -200 Select Sector Cll Opt 220.0000 03152024 0.58 -11,595 02-12-24 100 Vaneck Etf Tru Cll Opt191.0000 02162024 14.76 147,611 02-12-24 -100 Vaneck Etf Tru Cll Opt220.0000 03152024 2.55 -25,526 02-13-24 100 Select Sector Cll Opt 205.0000 02162024 0.57 5,701 02-13-24 -100 Select Sector Cll Opt 215.0000 03152024 0.71 -7,071 02-15-24 100 Spdr S&p 500 E Cll Opt499.0000 02162024 2.50 25,037 02-15-24 -100 Spdr S&p 500 E Cll Opt516.0000 03152024 1.53 -15,337 02-26-24 70 Alphabet Inc Cll Opt 160.0000 03152024 0.11 754 02-29-24 -200 Select Sector Cll Opt 215.0000 03152024 0.52 -10,415 02-29-24 200 Select Sector Cll Opt 220.0000 03152024 0.20 3,975 TOTAL 74,512
City of Sacramento
TRANSACTION SUMMARY
Large Cap Growth
SCERS
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss SALES
02-01-24 0 Vaneck Etf Tru Cll Opt200.0000 02162024 0.00 4,394 0.00 9,297 4,904 02-12-24 0 Vaneck Etf Tru Cll Opt191.0000 02162024 0.00 147,611 0.00 12,313 -135,297 02-13-24 0 Select Sector Cll Opt 205.0000 02162024 0.00 5,701 0.00 7,320 1,620 02-15-24 0 Spdr S&p 500 E Cll Opt499.0000 02162024 0.00 25,037 0.00 5,797 -19,239 02-26-24 0 Alphabet Inc Cll Opt 160.0000 03152024 0.00 754 0.00 5,108 4,354 02-29-24 0 Select Sector Cll Opt 220.0000 03152024 0.00 3,975 0.00 11,595 7,619 TOTAL 187,472 51,431 -136,041
City of Sacramento
TRANSACTION SUMMARY
Large Cap Growth
SCERS
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
WITHDRAWALS
02-29-24 Pool A Cash 13,342
TOTAL 13,342
City of Sacramento
TRANSACTION SUMMARY
International
SCERS
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
WITHDRAWALS
02-29-24 Pool A Cash 980
TOTAL 980
City of Sacramento
TRANSACTION SUMMARY
SHRA Investment Pool D
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
PURCHASES
02-02-24 1,000,000 Freddie Mac 100.00 1,000,000.00
5.375% Due 02-08-27
TOTAL 1,000,000.00
ATTACHMENT D
City of Sacramento
TRANSACTION SUMMARY
SHRA Investment Pool D
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss CALLS
02-13-24 500,000 Federal Farm Credit Bank 100.00 500,000.00 100.00 500,000.00 0.00
5.620% Due 11-13-25
TOTAL 500,000.00 500,000.00 0.00
City of Sacramento
TRANSACTION SUMMARY
SHRA Investment Pool D
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
MATURITIES
02-09-24 500,000 Federal Farm Credit Bank 100.00 500,000.00 100.00 500,000.00 0.00
1.230% Due 02-09-24
02-22-24 287,000 Mercedes-Benz Finance NA 98.83 283,630.62 3,369.38 100.00 287,000.00 0.00
3.650% Due 02-22-24
TOTAL 783,630.62 787,000.00 0.00
City of Sacramento
TRANSACTION SUMMARY
Capitol Area Development Authority - Banking
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss No transactions were found!
ATTACHMENT E
City of Sacramento
TRANSACTION SUMMARY
Capitol Area Development Authority - Tax Exempt
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss No transactions were found!
City of Sacramento
TRANSACTION SUMMARY
Capitol Area Development Authority - Taxable
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss No transactions were found!
City of Sacramento
TRANSACTION SUMMARY
CADA 2020 Taxable Bond Proceeds
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss No transactions were found!
City of Sacramento
TRANSACTION SUMMARY
American River Flood Control District
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss No transactions were found!
ATTACHMENT F
City of Sacramento
TRANSACTION SUMMARY
Reclamation District No. 1000
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss No transactions were found!
City of Sacramento
TRANSACTION SUMMARY
Sacramento Public Library Authority
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss
CONTRIBUTIONS
02-01-24 Pool A Cash 1,189,305
02-02-24 Pool A Cash 5,162,636
TOTAL 6,351,941
City of Sacramento
TRANSACTION SUMMARY
Sacramento Public Library Authority Hurst Trust
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss No transactions were found!
City of Sacramento
TRANSACTION SUMMARY
The Natomas Basin Conservancy
From 02-01-24 To 02-29-24
Trade Unit Total Amort. or Unit Total Gain/
Date Quantity Security Cost Co st Accretion Price Proceeds Loss No transactions were found!