City Council Finance Committee
January 24, 2022

City of San Ramon

FINANCE COMMITTEE
AGENDA
Sridhar Verose, Chair • Sabina Zafar, Vice Chair
TELECONFERENCE Regular Meeting
4:00 PM
January 24, 2022
AGENDA QUESTIONS: PLEASE CALL THE ADMINISTRATIVE SERVICES DIRECTOR AT (925) 973-2576 Documents received after publication of this Agenda and considered by the Finance Committee in its deliberation will be available for inspection only via electronic document transfer, due to COVID-19. See the COVID-19 provisions outlined below. Please call or email the Administrative Services Director during normal business hours if you require access to any such documents.

COVID-19 ADVISORY AND MEETING PROCEDURE
Assembly Bill 361 suspends certain provisions of the Brown Act, allowing public meetings to be held by teleconference. As a precaution to protect the health and safety of staff, officials, and the general public. Committee members will not be physically in attendance, but will be available via video conference.

There will be no physical location for members of the public to participate in the meeting. We encourage members of the public to access the meeting online using Zoom. It is recommended that anyone wishing to view and/or participate in the meeting, download the Zoom application, www.zoom.us, before the start of the meeting. Zoom participants will have the opportunity to speak during Public Comment (for topics not on the agenda), in addition to each of the agendized items.

If you would like to submit written public comment via email, please do so by 3:00 p.m. on Monday, January 24, 2022, to [email protected]. Please include “Public Comment 1/24/2022” in the subject line. In the body of the email please include your name and the item you wish to comment on. Written comments submitted will be provided to the Committee prior to the start of the meeting. Written public comment will not be read aloud during the meeting. If you wish to make your comments heard, you must participate in the Zoom meeting.

There will be zero tolerance for any person addressing the Committee making profane, offensive and disruptive remarks, or engaging in loud, boisterous, or other disorderly conduct, that disrupts the orderly conduct of the public meeting.
2 Finance Committee Meeting – January 24, 2022
HOW TO VIEW OR PARTICIPATE IN THE MEETING REMOTELY:

1. To view or participate in the meeting through Zoom
Livestream online at: https://cityofsanramon.zoom.us/j/96347856539 Webinar ID: 963 4785 6539
Use the “Raise Your Hand” button to request to speak when Public Comment is being taken on the Agenda item. You will then be unmuted when it is your turn to make your comment for up to three minutes. After the allotted time, you will then be re-muted.

2. To view the meeting live online at: www.sanramon.ca.gov/YouTube

3. To listen or participate in the meeting by telephone, dial: +1 (669) 900-6833 Webinar ID: 963 4785 6539
Use *9 on your telephone to raise your hand and request to speak when Public Comment is being taken on the Agenda item. You will then be unmuted when it is your turn to make your comment for up to three minutes. After the allotted time, you will then be remuted. 3 Finance Committee Meeting – January 24, 2022

1. CALL TO ORDER

2. PUBLIC COMMENT

3. APPROVAL OF MINUTES

3.1 Finance Committee - Regular Meeting - December 13, 2021 5:15 PM

4. UNFINISHED BUSINESS

5. NEW BUSINESS

5.1 City of San Ramon Quarterly Investment Report (Period Ending December 31, 2021) Staff Report by Candace Daniels, Finance Division Manager

5.2 California Employer’s Benefit Trust (CERBT) for the Period Ending December 31, 2021 Staff Report by Candace Daniels, Finance Division Manager

5.3 PARS Pension Stabilization Trust Statement for the Period Ending December 31, 2021 Staff Report by Candace Daniels, Finance Division Manager

6. COMMITTEE MEMBER COMMENTS

7. ADJOURNMENT
The next Finance Committee Meeting is scheduled for February 7, 2022 at 4:00 PM.

I hereby certify that the attached Finance Committee Meeting Agenda was posted 72 hours before the noted meeting.

Dated: January 20, 2022

MINUTES OF THE

CITY OF SAN RAMON FINANCE COMMITTEE
December 13, 2021

1. CALL TO ORDER
Attendee Name Title Status Arrived
Sabina Zafar Chair Present
Scott Perkins Vice Chair Present
Denton Carlson, Police Captain
Candace Daniels, Finance Division Manager
Christina Franco, City Clerk
Joe Gorton, City Manager
Kelly Sessions, Administrative Services Director

2. PUBLIC COMMENT

3. APPROVAL OF MINUTES

3.1 Finance Committee - Regular Meeting - Nov 8, 2021 5:00 PM RESULT: ACCEPTED [UNANIMOUS]
AYES: Zafar, Perkins

4. UNFINISHED BUSINESS

5. NEW BUSINESS

5.1 A Draft Resolution of the City Council of the City of San Ramon Repealing and Replacing False Alarm Fees
The Finance Committee accepted the report and recommended forwarding to City Council for approval.

Staff Report by Denton Carlson, Police Services Captain RESULT: APPROVED [UNANIMOUS]
AYES: Zafar, Perkins

3.1 Packet Pg. 3
Minutes Acceptance: Minutes of Dec 13, 2021 5:15 PM (APPROVAL OF MINUTES) 2 Finance Committee Meeting – December 13, 2021

5.2 Draft of the Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2021
Public comment was received from call in User 1.

The Finance Committee accepted the report and recommended forwarding to City Council for approval.

Staff Report by Candace Daniels, Finance Division Manager RESULT: APPROVED [UNANIMOUS]
AYES: Zafar, Perkins

6. COMMITTEE MEMBER COMMENTS

7. ADJOURNMENT
The meeting was adjourned at 5:55 PM.

The next Finance Committee Meeting is scheduled for January 24, 2022 at 4:00 PM.

Respectfully submitted by:
_______________________
Danielle Day, Office Specialist

3.1 Packet Pg. 4
Minutes Acceptance: Minutes of Dec 13, 2021 5:15 PM (APPROVAL OF MINUTES)

FINANCE COMMITTEE STAFF REPORT
DATE: January 24, 2022
TO: Finance Committee/City Manager
FROM: Kelly Sessions, Administrative Services Director
By: Candace Daniels, Finance Division Manager
SUBJECT: City of San Ramon Quarterly Investment Report (Period Ending December 31, 2021)

RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the Quarterly Investment Report for the Period Ending December 31, 2021.

BACKGROUND/DISCUSSION
State law requires that City Council review the City Investment Report at least quarterly. A copy of the FHN Financial-Main Street Advisors Investment Report for the period ending December 31, 2021, the Investments Held by Trustees, and the Summary of Cash and Investments are attached for your review.

The December 31, 2021 Investment Report was prepared by FHN Financial-Main Street Advisors, the City’s investment manager. The Investment Report is maintained on a daily basis to track investment yield, maturities, call dates and market values. The Investments Held by Trustees and the Summary of Cash and Investments were prepared by staff.

The City’s investments are carried at fair value, as required by generally accepted accounting principles. In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Pools, the City adjusts the carrying value of its investments to reflect their fair value at each fiscal year end, and it includes the effects of these adjustments in income for that fiscal year.

FISCAL ANALYSIS
The balance of the City’s demand deposit accounts held with JP Morgan Chase Bank, as of December 31, 2021 totaled $3.7 million. This account is used for daily City operations.

Total funds managed by FHN Financial-Main Street Advisors, as of December 31, 2021 totaled

5.1 Packet Pg. 5
$64.8 million at book value. The portfolio consists of $34.4 million in federal agency securities, $13.1 million in treasury securities, $3.1 million in supranationals, $6.0 million in corporate notes, $4.7 million in FDIC insured CD’s, $1.0 million in municipal bonds, and $2.5 million in commercial paper. The weighted average yield to maturity on investments is 1.19% and the weighted average days to maturity is 735 days, which is 57 days longer than last quarter. Interest rates remained the same as the previous quarter.

The overall objective in managing the City’s investment portfolio is to generate favorable longterm results relative to the City’s benchmark, the ICE BofAML 30-month average (MMA) custom benchmark, while maintaining safety of principal and appropriate liquidity. To accomplish these objectives, FHN Financial-Main Street Advisors is directed to maintain a strategy designed to keep the portfolio’s results in line with the established benchmark, while actively managing the portfolio’s duration relative to the benchmark, sector allocation and yield curve placement to enhance performance.

The balance of the City’s Fidelity U.S. Government Money Market account held with US Bank, as of December 31, 2021 totals $1.2 million and makes up 1.7% of the portfolio. The current rate is 0.01%. This account is available on a daily basis for immediate cash flow requirements.

The City of San Ramon has $4.6 million invested with the State Treasurer’s Office (Local Agency Investment Fund). The current interest rate is 0.20% and makes up 6.5% of the portfolio.

This account is available on a daily basis for immediate cash flow requirements.

The “Investments Held by Trustees” report was prepared by staff and is required supplementary information in the quarterly report to the City Council. Funds held with the trustee total $4.5 million. The 2019 Certificates of Participation (COP) investments managed by FHN FinancialMain Street Advisors total $3.6 million and are available for designated capital projects. The remaining $0.9 million of investments managed by the trustee pertain to City pension obligation bonds and are not available for general City purposes.

This Investment portfolio is in conformity with the City of San Ramon’s adopted “Investment Policy.” The Treasurer’s cash management program provides sufficient liquidity to meet estimated future expenditures for a period of six months. FHN Financial-Main Street Advisors provides market values for securities under their management; market prices of securities held by trust are obtained from the trustees’ monthly account statements.

FISCAL IMPLICATIONS
This item is for informational purposes only--there is no fiscal impact.

STEPS FOLLOWING APPROVAL
None
ATTACHMENT:

5.1 Packet Pg. 6
A: Investment Portfolio Information for City of San Ramon for the Month Ending December 31, 2021
B: Quarterly Cash Investment Summary at December 31, 2021 C: Investments Held by Trustees at December 31, 2021

5.1 Packet Pg. 7
Client Management Team
Rick Phillips
President & Chief Investment Officer
702-575-6666
[email protected]
Tonya Dazzio Monthly Investment Report
Chief Operating & Compliance Officer
702-575-6592
[email protected] City of San Ramon
Greg Balls, CFA
Assistant Chief Investment Officer
702-575-6655
[email protected] December 2021
10655 Park Run Drive, Suite 120 | Las Vegas, NV 89144 | Phone 702.575.6600 | www.FHNMainStreet.com

5.1.a
Packet Pg. 8
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 2
Portfolio Summary
City of San Ramon 12/31/2021

SECTOR ALLOCATION MATURITY DISTRIBUTION CREDIT QUALITY (MOODY'S)

ACCOUNT SUMMARY MONTH-END PORTFOLIO BOOK YIELD TOP ISSUERS 12/31/21 11/30/21 Issuer % Portfolio
Market Value $70,742,670 $73,674,848 FFCB 21.8%
Book Value $70,575,028 $73,372,402 U.S. Treasury 18.5%
Variance $167,642 $302,446 FNMA 10.0%
FHLB 8.5%
Par Value $70,386,035 $73,176,879 LAIF 6.5%
FHLMC 5.7%
Net Asset Value $100.24 $100.41 IBRD 2.9%
TVA 2.8%
Book Yield 1.19% 1.19% Toronto Dominion Bank 1.8%
Toyota 1.8%
Market Yield 0.67% 0.60% Fidelity Govt MMF 1.6%
IFC 1.5%
Years to Maturity 2.01 2.01 Johnson & Johnson 1.4%
State of California 1.4%
Effective Duration 1.95 1.93 National Securities Clearing 1.4% Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

1.60%

1.4%

1.6%

3.5%

4.4%

6.5%

6.7%

8.5%

18.5%

48.7%
MUNI
MMF
CP
SUPRA
LAIF
CD
CORP
TSY
AGY
0% 25% 50% 75% 100%

34.7%

19.2% 20.3% 19.8%

6.0%
0-1Y 1-2Y 2-3Y 3-4Y 4-5Y+
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%

13.2%

1.4%

2.8%

79.0%

3.5%
NR
A3
A2
A1
Aa3
Aa2
Aa1
Aaa
P-1
0% 25% 50% 75% 100%
2 5.1.a
Packet Pg. 9
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 3
Investment Policy Compliance
City of San Ramon 12/31/2021
Category Book Value % of Portfolio % Allowed by Policy In Compliance Reserved row US Treasuries 13,088,180.23 18.55% 100% Yes
US Federal Agencies 34,398,884.52 48.74% 100% Yes
Supranational Obligations 3,123,846.71 4.43% 30% Yes
LAIF 4,593,324.03 6.51% 15% Yes
Commercial Paper 2,497,052.98 3.54% 25% Yes
Money Market Funds 1,162,710.99 1.65% 20% Yes
Negotiable Certificates of Deposit 4,710,103.99 6.67% 30% Yes Corporate Obligations 5,994,077.86 8.49% 30% Yes
State and Local Governments 1,006,846.24 1.43% 15% Yes
Total 70,575,027.56 100.00%
Other Metrics Portfolio Metric In Compliance
Weighted Average Maturity 2.01 Less than 2.5 Years Yes
Liquidity 34.75% 30% Under 365 Days Yes
Ratings Yes
3 5.1.a
Packet Pg. 10
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 4
Historical Book Values
City of San Ramon 12/31/2021
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Fiscal Year 2018 $77.4 $77.5 $75.9 $74.6 $73.7 $73.4 $79.7 $81.5 $80.6 $78.3 $78.4 $78.5 FY18 Fiscal Year 2019 $78.5 $80.7 $78.4 $74.4 $69.7 $67.3 $74.7 $80.7 $79.8 $79.5 $84.6 $84.8 FY19 Fiscal Year 2020 $83.8 $82.9 $83.1 $74.8 $70.8 $70.8 $77.9 $82.0 $78.4 $78.8 $86.0 $87.0 FY20 Fiscal Year 2021 $85.5 $84.8 $85.7 $81.6 $76.1 $73.2 $75.4 $77.3 $77.4 $83.6 $85.3 $85.2 FY21 Fiscal Year 2022 $84.7 $80.5 $80.6 $78.6 $74.7 $71.3 FY22 Average Daily BalanceJul-09
Nov-09
Mar-10
Jul-10
Nov-10
Mar-11
Jul-11
Nov-11
Mar-12
Jul-12
Nov-12
Mar-13
Jul-13
Nov-13
Mar-14
Jul-14
Nov-14
Mar-15
Jul-15
Nov-15
Mar-16
Jul-16
Nov-16
Mar-17
Jul-17
Nov-17
Mar-18
Jul-18
Nov-18
Mar-19
Jul-19
Nov-19
Mar-20
Jul-20
Nov-20
Mar-21
Jul-21
Nov-21
$0
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
Millions
4 5.1.a
Packet Pg. 11
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 5
Historical Book Values Per Fiscal Year
City of San Ramon 12/31/2021
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Fiscal Year 2018 $77.4 $77.5 $75.9 $74.6 $73.7 $73.4 $79.7 $81.5 $80.6 $78.3 $78.4 $78.5 FY18 Fiscal Year 2019 $78.5 $80.7 $78.4 $74.4 $69.7 $67.3 $74.7 $80.7 $79.8 $79.5 $84.6 $84.8 FY19 Fiscal Year 2020 $83.8 $82.9 $83.1 $74.8 $70.8 $70.8 $77.9 $82.0 $78.4 $78.8 $86.0 $87.0 FY20 Fiscal Year 2021 $85.5 $84.8 $85.7 $81.6 $76.1 $73.2 $75.4 $77.3 $77.4 $83.6 $85.3 $85.2 FY21 Fiscal Year 2022 $84.7 $80.5 $80.6 $78.6 $74.7 $71.3 FY22 Figures in Millions, Average Daily Balance
Chart Title
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
$50
$55
$60
$65
$70
$75
$80
$85
$90
$95
$100
Millions
Fiscal Year 2018 Fiscal Year 2019 Fiscal Year 2020 Fiscal Year 2021 Fiscal Year 2022 5 5.1.a
Packet Pg. 12
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 6
Historical Weighted Average Maturity
City of San Ramon 12/31/2021 Don
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Fiscal Year 2018 1.35 1.32 1.35 1.51 1.72 1.70 1.73 1.65 1.66 1.57 1.50 1.48 Fiscal Year 2019 1.44 1.52 1.60 1.76 1.79 1.70 1.69 1.67 1.65 1.50 1.55 1.63 Fiscal Year 2020 1.59 1.58 1.64 1.83 1.88 1.89 1.60 1.70 1.78 1.71 1.87 1.82 Fiscal Year 2021 1.93 1.76 1.72 1.88 1.87 1.88 1.83 1.91 1.96 1.90 1.83 1.76 Fiscal Year 2022 1.98 2.04 1.86 1.98 2.01 2.01 Jul-09 Nov-09 Mar-10 Jul-10 Nov-10 Mar-11 Jul-11 Nov-11 Mar-12 Jul-12 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16
Jul-16
Nov-16
Mar-17
Jul-17
Nov-17
Mar-18
Jul-18
Nov-18
Mar-19
Jul-19
Nov-19
Mar-20
Jul-20
Nov-20
Mar-21
Jul-21
Nov-21

0.00 0.50

1.00 1.50

2.00 2.50
Average Years To Maturity
6 5.1.a
Packet Pg. 13
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 7
Next Twelve Months Cash Flow
City of San Ramon 12/31/2021
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Maturities $6.0 $0.0 $2.0 $0.0 $0.5 $1.2 $2.5 $1.5 $1.2 $3.0 $3.2 $3.3 1 Par Value in Millions; Assumes Securities Are Held To Maturity $6.0
$0.0
$2.0
$0.0
$0.5
$1.2
$2.5
$1.5
$1.2
$3.0
$3.2 $3.3
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 $0
$1
$2
$3
$4
$5
$6
$7
Millions
7 5.1.a
Packet Pg. 14
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 8
Yield At Cost Per 6-Month Maturity Intervals
City of San Ramon 12/31/2021
Years Yield At Cost % of Portfolio
0 to .5 1.11% 13.81%
.5 to 1.0 1.44% 20.94%

1.0 to 1.5 1.31% 6.73%

1.5 to 2.0 2.06% 12.44%

2.0 to 2.5 1.25% 5.30%

2.5 to 3.0 0.96% 14.97%

3.0 to 3.5 0.91% 7.08%

3.5 to 4.0 0.59% 12.73%

4.0 to 4.5 0.63% 2.83%

4.5 to 5.0 0.95% 3.17%

5.0+ 0.00% 0.00%
Total 1.19% 100.0%

1.11%

1.44%

1.31%

2.06%

1.25%

0.96%

0.91%

0.59%

0.63%

0.95%
-0.5 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5
-0.5%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%
Maturity Intervals
Yield At Cost
Bubble Size = Maturity's % of Portfolio
8 5.1.a
Packet Pg. 15
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 9
Historical Sector Allocation
City of San Ramon 12/31/2021
Sector Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 AGY 58.2% 58.1% 60.6% 55.0% 52.6% 52.6% 55.8% 53.3% 48.2% 47.4% 48.3% 48.7% TSY 2.6% 2.6% 2.6% 7.1% 7.0% 7.0% 12.6% 16.3% 15.0% 18.4% 17.8% 18.5% CORP 10.3% 10.3% 9.0% 8.2% 8.2% 7.0% 7.4% 7.4% 7.4% 7.8% 8.2% 8.5% CD 6.7% 6.7% 6.7% 6.1% 6.1% 5.5% 5.9% 5.8% 5.8% 6.1% 6.4% 6.7% LAIF 5.9% 5.9% 5.9% 10.1% 10.1% 15.9% 9.4% 9.4% 9.4% 9.9% 9.0% 6.5% Supra 1.4% 4.1% 4.0% 3.7% 3.7% 3.7% 3.9% 3.9% 3.9% 4.1% 4.3% 4.4% CP 6.1% 6.1% 6.1% 5.6% 5.6% 4.4% 1.6% 0.0% 0.0% 1.6% 3.4% 3.5% MMF 6.7% 4.1% 3.0% 2.5% 5.5% 2.7% 2.2% 2.6% 8.9% 3.3% 1.3% 1.6% Muni 2.0% 2.0% 1.9% 1.8% 1.2% 1.2% 1.3% 1.3% 1.2% 1.3% 1.4% 1.4% Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
AGY
TSY
CORP
CD
LAIF
Supra
CP
MMF
Muni
9 5.1.a
Packet Pg. 16
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 10
Issuer Allocation
City of San Ramon 12/31/2021

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

0.4%

1.4%

1.4%

1.4%

1.4%

1.4%

1.4%

1.4%

1.5%

1.6%

1.8%

1.8%

2.8%

2.9%

5.7%

6.5%

8.5%

10.0%

18.5%

21.8%

TIAA FSB
Comenity Capital Bank
UBS Bank USA
Citigroup
EnerBank
Morgan Stanley Private Bank
Synchrony Bank
Morgan Stanley Bank
Goldman Sachs Bank
Capital One Bank NA
American Express National Bank
Discover Bank
Flagstar Bank
First Missouri State Bank
Cross River Bank
EagleBank
Axos Bank
Third Federal Savings & Loan
Sallie Mae Bank
Microsoft
Chevron
New York Life
MetLife
National Securities Clearing
State of California
Johnson & Johnson
IFC
Fidelity Govt MMF
Toyota
Toronto Dominion Bank
TVA
IBRD
FHLMC
LAIF
FHLB
FNMA
U.S. Treasury
FFCB
0% 5% 10% 15% 20% 25%
10 5.1.a
Packet Pg. 17
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 12
Historical Earnings & Book Return Performance
City of San Ramon 12/31/2021
Fiscal YTD ($K) Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY 2020 $154.500 $308.552 $459.790 $608.289 $744.438 $874.390 $1,016.248 $1,158.700 $1,295.754 $1,427.478 $1,554.200 $1,676.780 FY 2021 $121.850 $238.660 $351.123 $453.598 $547.800 $641.347 $734.415 $823.342 $911.769 $1,003.637 $1,096.200 $1,187.000 FY 2022 $89.499 $177.452 $260.506 $341.752 $413.503 $484.482 Fiscal YTD Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Book Return 1.24% 1.26% 1.26% 1.25% 1.24% 1.23%
Fiscal Year-To-Date Earnings
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
Thousands
FY 2020
FY 2021
FY 2022
Fiscal Year-To-Date Book Return
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

0.50%

0.60%

0.70%

0.80%

0.90%

1.00%

1.10%

1.20%

1.30%

1.40%

1.50%
11 5.1.a
Packet Pg. 18
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 13
Historical Yield At Cost vs Benchmark
City of San Ramon 12/31/2021
Month-End Yield At Cost vs Benchmark
Jul-09
Nov-09
Mar-10
Jul-10
Nov-10
Mar-11
Jul-11
Nov-11
Mar-12
Jul-12
Nov-12
Mar-13
Jul-13
Nov-13
Mar-14
Jul-14
Nov-14
Mar-15
Jul-15
Nov-15
Mar-16
Jul-16
Nov-16
Mar-17
Jul-17
Nov-17
Mar-18
Jul-18
Nov-18
Mar-19
Jul-19
Nov-19
Mar-20
Jul-20
Nov-20
Mar-21
Jul-21
Nov-21

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0% Portfolio
Benchmark
Trailing 12 Months: Month End Yield At Cost vs Benchmark Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%

1.4%

1.6%
Portfolio
Benchmark
Benchmark: Custom Benchmark (see disclosure)
12 5.1.a
Packet Pg. 19
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/11/2022 - 9:34 AM
Amortizing Page 15
Investment Activity
City of San Ramon 12/31/2021
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Positions 77 76 76 77 77 75 71 70 66 67 66 65
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Purchases 5 2 1 2 0 0 2 3 0 3 1 0
Redemptions 3 1 1 0 2 4 2 3 4 2 2 1
Total 8 3 2 2 2 4 4 6 4 5 3 1
Number of Positions at Month End
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 50 55
60 65
70 75
80 85
90 95
100
Positions
Purchases and Redemptions* (Excluding MMF/LGIP)
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 0 2
4 6
8 10
Number of Transactions
Purchases
Redemptions
*Redemptions include maturities, calls, and sells
13 5.1.a
Packet Pg. 20
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Portfolio Summary
City of San Ramon December 31, 2021
Investments Par Value Book Value
% of
Portfolio Maturity YTM
Days to
Market Value
Book
Certificates of Deposit 4,712,000.00 4,819,004.56 4,710,103.99 6.67 521 2.44 Commercial Paper 2,500,000.00 2,496,037.50 2,497,052.98 3.54 199 0.21 Corporate Bonds 6,000,000.00 6,049,260.00 5,994,077.86 8.49 679 2.03 LAIF 4,593,324.03 4,593,324.03 4,593,324.03 6.51 1 0.20 Money Market Funds 1,162,710.99 1,162,710.99 1,162,710.99 1.65 1 0.01 Municipal Securities 1,000,000.00 1,024,990.00 1,006,846.24 1.43 639 1.84 Supranational Securities 3,095,000.00 3,052,778.60 3,123,846.71 4.43 1,265 0.46 U.S. Agencies 34,323,000.00 34,615,694.18 34,398,884.52 48.74 726 1.40 U.S. Treasuries 13,000,000.00 12,928,870.00 13,088,180.23 18.55 1,167 0.60 70,386,035.02 70,742,669.86 70,575,027.56 100.00 735 1.19 Investments
Total Earnings December 31 Month Ending Fiscal Year To Date Current Year 70,979.81 484,482.45
Average Daily Balance 71,265,407.62 78,399,917.50
Book Rate of Return 1.17% 1.23%
Run Date: 1/11/2022 - 9:34 AM
Amortizing
14 5.1.a
Packet Pg. 21
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 2021
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
Certificates of Deposit
88413QBY3 Third Federal Savings & Loan 01/31/2022 248,000.00 01/31/2018 247,523.84 100.19 248,481.12 0.35% NR/NR 0.08

2.500% 2.28% 247,989.90 0.10% 2,632.88 491.22 NR 0.12
27002YEM4 EagleBank 05/10/2022 248,000.00 05/10/2019 248,000.00 100.85 250,103.04 0.35% NR/NR 0.36

2.600% 2.60% 248,000.00 0.24% 388.65 2,103.04 NR 0.39
227563AQ6 Cross River Bank 05/16/2022 248,000.00 05/15/2019 248,000.00 100.85 250,105.52 0.35% NR/NR 0.37

2.500% 2.16% 248,000.00 0.24% 798.36 2,105.52 NR 0.41
33847E2J5 Flagstar Bank 06/13/2022 248,000.00 06/12/2019 248,000.00 101.02 250,539.52 0.35% NR/NR 0.45

2.500% 2.50% 248,000.00 0.23% 339.73 2,539.52 NR 0.48
02587DV47 American Express National Bank 08/08/2022 248,000.00 08/09/2017 247,417.20 101.26 251,129.76 0.35% NR/NR 0.60

2.350% 2.40% 247,929.74 0.25% 2,331.20 3,200.02 NR 0.63 38148PMR5 Goldman Sachs Bank 08/16/2022 248,000.00 08/17/2017 247,417.20 101.31 251,236.40 0.35% NR/NR 0.62

2.350% 2.40% 247,927.19 0.26% 2,203.46 3,309.21 NR 0.65 254673BZ8 Discover Bank 09/07/2022 248,000.00 09/08/2017 247,417.20 101.41 251,486.88 0.35% NR/NR 0.68

2.350% 2.40% 247,920.16 0.29% 1,852.19 3,566.72 NR 0.71 14042RJZ5 Capital One Bank NA 11/08/2022 248,000.00 11/09/2017 247,417.20 101.77 252,392.08 0.35% NR/NR 0.85

2.400% 2.45% 247,900.37 0.32% 880.57 4,491.71 NR 0.88
61747MF63 Morgan Stanley Bank 01/11/2023 248,000.00 01/12/2018 247,417.20 102.35 253,823.04 0.35% NR/NR 1.03

2.650% 2.70% 247,879.93 0.36% 3,132.95 5,943.11 NR 1.03 87165E2L0 Synchrony Bank 04/24/2023 248,000.00 04/27/2020 247,635.44 100.86 250,120.40 0.35% NR/NR 1.31

1.100% 1.15% 247,840.09 0.45% 515.70 2,280.31 NR 1.34
17312QN96 Citibank 06/28/2023 248,000.00 06/29/2018 247,432.08 104.17 258,344.08 0.35% NR/NR 1.49

3.300% 3.35% 247,830.71 0.49% 89.69 10,513.37 NR 1.46
29278TLY4 EnerBank 09/27/2023 248,000.00 09/30/2019 247,523.84 102.47 254,130.56 0.35% NR/NR 1.74

2.000% 2.05% 247,792.62 0.57% 67.95 6,337.94 NR 1.73
90348JEV8 UBS Bank USA 10/24/2023 248,000.00 10/25/2018 247,429.60 105.16 260,789.36 0.35% NR/NR 1.81

3.450% 3.50% 247,793.09 0.59% 187.53 12,996.27 NR 1.77
61760ARS0 Morgan Stanley Private Bank 11/08/2023 248,000.00 11/09/2018 247,434.56 105.29 261,114.24 0.35% NR/NR 1.85

3.550% 3.60% 247,790.24 0.68% 1,302.51 13,324.00 NR 1.81 20033AP91 Comenity Capital Bank 02/15/2024 248,000.00 02/19/2019 247,427.12 105.10 260,650.48 0.35% NR/NR 2.13

3.100% 3.15% 247,756.01 0.68% 358.07 12,894.47 NR 2.05
87270LBU6 TIAA FSB 02/22/2024 248,000.00 02/25/2019 247,427.12 104.92 260,209.04 0.35% NR/NR 2.15

3.000% 3.05% 247,753.94 0.68% 2,690.63 12,455.10 NR 2.08 05465DAK4 Axos Bank 03/26/2024 248,000.00 03/26/2020 248,000.00 102.09 253,183.20 0.35% NR/NR 2.24

1.650% 1.65% 248,000.00 0.71% 67.27 5,183.20 NR 2.22
32100LCB9 First Missouri State Bank 09/13/2024 248,000.00 09/13/2019 248,000.00 102.73 254,767.92 0.35% NR/NR 2.70

1.850% 1.85% 248,000.00 0.83% 1,382.68 6,767.92 NR 2.65 795451AK9 Sallie Mae Bank 08/11/2026 248,000.00 08/11/2021 248,000.00 99.35 246,397.92 0.35% NR/NR 4.61

1.100% 1.10% 248,000.00 1.24% 1,068.78 -1,602.08 NR 4.50 Run Date: 1/11/2022 - 9:34 AM
Amortizing
15 5.1.a
Packet Pg. 22
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 2021
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
4,704,919.60 4,819,004.56 6.67% 1.43
Total Certificates of Deposit 4,712,000.00 2.44% 4,710,103.99 0.48% 22,290.80 108,900.57 1.42 Commercial Paper
89116FG87 Toronto Dominion Holdings USA 07/08/2022 1,250,000.00 10/13/2021 1,248,511.11 99.85 1,248,125.00 1.77% P-1/A-1+ 0.52

0.000% 0.16% 1,248,949.63 0.29% 0.00 -824.63 F1+ 0.00
89233HGV0 Toyota Motor Credit 07/29/2022 1,250,000.00 11/01/2021 1,247,562.50 99.83 1,247,912.50 1.77% P-1/A-1+ 0.58

0.000% 0.26% 1,248,103.34 0.29% 0.00 -190.84 F1 0.00
2,496,073.61 2,496,037.50 3.54% 0.55
Total Commercial Paper 2,500,000.00 0.21% 2,497,052.98 0.29% 0.00 -1,015.47 0.00 Corporate Bonds
59217GDB2 MetLife 06/17/2022 1,000,000.00 06/17/2019 998,650.00 100.93 1,009,270.00 1.42% Aa3/AA- 0.46

2.400% 2.45% 999,792.50 0.39% 933.33 9,477.50 AA- 0.49
166764AB6 Chevron 12/05/2022 1,000,000.00 12/31/2018 967,380.00 101.27 1,012,660.00 1.41% Aa2/AA- 0.93

2.355% 09/05/2022 3.25% 992,277.24 0.98% 1,700.83 20,382.76 NR 0.45 478160BT0 Johnson & Johnson 03/01/2023 1,000,000.00 03/13/2020 1,024,970.00 101.44 1,014,440.00 1.43% Aaa/AAA 1.16

2.050% 01/01/2023 1.19% 1,009,819.66 0.80% 6,833.33 4,620.34 NR 0.74 594918BQ6 Microsoft 08/08/2023 1,000,000.00 05/01/2019 976,240.00 101.90 1,018,960.00 1.40% Aaa/AAA 1.60

2.000% 06/08/2023 2.59% 991,080.34 0.81% 7,944.44 27,879.66 AAA 1.32 64952WDL4 New York Life 01/22/2025 1,000,000.00 01/22/2020 996,410.00 102.07 1,020,660.00 1.41% Aaa/AA+ 3.06

2.000% 2.08% 997,804.12 1.31% 8,833.33 22,855.88 AAA 2.98 637639AE5 National Securities Clearing 12/07/2025 1,000,000.00 01/07/2021 1,004,130.00 97.33 973,270.00 1.42% Aaa/AA+ 3.94

0.750% 11/07/2025 0.66% 1,003,304.00 1.45% 500.00 -30,034.00 NR 3.90 5,967,780.00 6,049,260.00 8.49% 1.86
Total Corporate Bonds 6,000,000.00 2.03% 5,994,077.86 0.96% 26,745.26 55,182.14 1.65 LAIF
9807828 LAIF 01/01/2022 4,593,324.03 10/15/2021 4,593,324.03 1.00 4,593,324.03 6.51% NR/NR 0.00

0.203% 0.20% 4,593,324.03 0.20% 0.00 0.00 NR 0.00
4,593,324.03 4,593,324.03 6.51% 0.00
Total LAIF 4,593,324.03 0.20% 4,593,324.03 0.20% 0.00 0.00 0.00 Run Date: 1/11/2022 - 9:34 AM
Amortizing
16 5.1.a
Packet Pg. 23
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 2021
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
Money Market Funds
FIGXX Fidelity Govt MMF 01/01/2022 1,162,710.99 1,162,710.99 0.00 1,162,710.99 1.65% Aaa/AAA 0.00

0.010% 0.01% 1,162,710.99 0.01% 5.30 0.00 NR 0.00
1,162,710.99 1,162,710.99 1.65% 0.00
Total Money Market Funds 1,162,710.99 0.01% 1,162,710.99 0.01% 5.30 0.00 0.00 Municipal Securities
13063DDG0 State of California 10/01/2023 1,000,000.00 11/27/2019 1,015,040.00 102.50 1,024,990.00 1.43% Aa2/AA- 1.75

2.250% 1.84% 1,006,846.24 0.81% 5,625.00 18,143.76 AA 1.74 1,015,040.00 1,024,990.00 1.43% 1.75
Total Municipal Securities 1,000,000.00 1.84% 1,006,846.24 0.81% 5,625.00 18,143.76 1.74 Supranational Securities
45950KCR9 IFC 10/16/2024 1,060,000.00 01/21/2021 1,100,216.40 100.99 1,070,525.80 1.54% Aaa/AAA 2.79

1.375% 0.35% 1,090,080.07 1.01% 3,036.46 -19,554.27 AAA 2.77 459058JL8 IBRD 10/28/2025 2,035,000.00 02/04/2021 2,033,473.75 97.41 1,982,252.80 2.88% Aaa/AAA 3.83

0.500% 0.52% 2,033,766.64 1.20% 1,780.62 -51,513.84 AAA 3.82 3,133,690.15 3,052,778.60 4.43% 3.47
Total Supranational Securities 3,095,000.00 0.46% 3,123,846.71 1.13% 4,817.08 -71,068.11 3.45 U.S. Agencies
313378CR0 FHLB 03/11/2022 1,000,000.00 08/15/2018 981,550.00 100.41 1,004,050.00 1.42% Aaa/AA+ 0.19

2.250% 2.80% 998,995.72 0.17% 6,875.00 5,054.28 AAA 0.22 3133ECHP2 FFCB 03/11/2022 1,000,000.00 01/03/2018 986,670.00 100.33 1,003,300.00 1.42% Aaa/AA+ 0.19

1.900% 2.23% 999,381.23 0.20% 5,805.56 3,918.77 AAA 0.22 3130AJY52 FHLB 08/12/2022 1,000,000.00 08/14/2020 998,070.00 99.92 999,180.00 1.42% Aaa/AA+ 0.61

0.125% 0.22% 999,405.95 0.26% 482.64 -225.95 AAA 0.64
3133EJZH5 FFCB 09/13/2022 1,000,000.00 09/28/2018 992,720.00 101.86 1,018,640.00 1.42% Aaa/AA+ 0.70

2.800% 3.00% 998,712.59 0.13% 8,400.00 19,927.41 AAA 0.72 3135G0T78 FNMA 10/05/2022 1,000,000.00 10/06/2017 999,340.00 101.27 1,012,680.00 1.42% Aaa/AA+ 0.76

2.000% 2.01% 999,899.48 0.33% 4,777.78 12,780.52 AAA 0.79 3135G0T78 FNMA 10/05/2022 1,000,000.00 10/16/2017 1,001,530.00 101.27 1,012,680.00 1.42% Aaa/AA+ 0.76

2.000% 1.97% 1,000,234.33 0.33% 4,777.78 12,445.67 AAA 0.79 Run Date: 1/11/2022 - 9:34 AM
Amortizing
17 5.1.a
Packet Pg. 24
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 2021
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
U.S. Agencies
3133EKHN9 FFCB 10/18/2022 1,000,000.00 05/03/2019 999,099.00 101.75 1,017,510.00 1.42% Aaa/AA+ 0.80

2.330% 2.36% 999,792.30 0.13% 4,724.72 17,717.70 AAA 0.82 3133EHM91 FFCB 11/01/2022 1,000,000.00 11/30/2017 996,270.00 101.63 1,016,270.00 1.42% Aaa/AA+ 0.84

2.080% 2.16% 999,366.05 0.13% 3,466.67 16,903.95 AAA 0.86 3133ELZF4 FFCB 11/14/2022 2,000,000.00 05/14/2020 1,999,000.00 100.13 2,002,620.00 2.83% Aaa/AA+ 0.87

0.270% 0.29% 1,999,652.22 0.12% 705.00 2,967.78 AAA 0.90 3130A3KM5 FHLB 12/09/2022 1,000,000.00 12/22/2017 1,008,070.00 101.98 1,019,800.00 1.42% Aaa/AA+ 0.94

2.500% 2.33% 1,001,526.39 0.39% 1,527.78 18,273.61 AAA 0.96 3133EFUJ4 FFCB 12/29/2022 1,275,000.00 05/01/2020 1,334,899.50 101.99 1,300,372.50 1.84% Aaa/AA+ 0.99

2.150% 0.37% 1,297,384.16 0.15% 152.29 2,988.34 AAA 1.01 3135G0T94 FNMA 01/19/2023 1,000,000.00 01/23/2018 994,220.00 102.05 1,020,480.00 1.42% Aaa/AA+ 1.05

2.375% 2.50% 998,783.50 0.42% 10,687.50 21,696.50 AAA 1.06 3134GVQ68 FHLMC 06/16/2023 2,000,000.00 06/16/2020 2,000,000.00 99.73 1,994,680.00 2.83% Aaa/AA+ 1.46

0.375% 06/16/2022 0.38% 2,000,000.00 0.56% 312.50 -5,320.00 AAA 1.09 313383YJ4 FHLB 09/08/2023 1,000,000.00 10/23/2018 1,009,790.00 104.56 1,045,580.00 1.42% Aaa/AA+ 1.69

3.375% 3.16% 1,003,386.06 0.65% 10,593.75 42,193.94 AAA 1.67 3136G0X97 FNMA 10/30/2023 2,000,000.00 10/09/2019 2,055,480.00 102.58 2,051,560.00 2.87% Aaa/AA+ 1.83

2.125% 1.42% 2,025,024.86 0.71% 7,201.39 26,535.14 AAA 1.83 3133EKKU9 FFCB 11/08/2023 1,000,000.00 06/04/2019 1,013,870.00 103.37 1,033,670.00 1.43% Aaa/AA+ 1.85

2.300% 1.97% 1,005,803.82 0.47% 3,386.11 27,866.18 AAA 1.85 3133EJWW5 FFCB 12/14/2023 1,005,000.00 12/31/2018 1,013,462.10 104.74 1,052,657.10 1.43% Aaa/AA+ 1.95

2.950% 2.77% 1,008,339.30 0.51% 1,400.02 44,317.80 AAA 1.94 3133EKQU3 FFCB 06/13/2024 1,000,000.00 06/20/2019 998,320.00 103.12 1,031,190.00 1.42% Aaa/AA+ 2.45

1.950% 1.99% 999,173.59 0.66% 975.00 32,016.41 AAA 2.43 3133EKA63 FFCB 08/16/2024 2,000,000.00 08/16/2019 1,993,680.00 102.28 2,045,640.00 2.83% Aaa/AA+ 2.63

1.600% 1.67% 1,996,682.00 0.72% 12,000.00 48,958.00 AAA 2.59 3133EKP75 FFCB 09/17/2024 2,000,000.00 09/17/2019 1,997,420.00 101.73 2,034,640.00 2.83% Aaa/AA+ 2.72

1.600% 1.63% 1,998,601.07 0.95% 9,244.44 36,038.93 AAA 2.68 3133EK4Y9 FFCB 11/01/2024 1,043,000.00 05/07/2020 1,090,612.96 102.41 1,068,094.58 1.52% Aaa/AA+ 2.84

1.650% 0.62% 1,073,089.97 0.79% 2,868.25 -4,995.39 AAA 2.80 880591EW8 TVA 05/15/2025 2,000,000.00 05/11/2020 2,002,840.00 98.62 1,972,420.00 2.84% Aaa/AA+ 3.37

0.750% 0.72% 2,001,911.18 1.17% 1,916.67 -29,491.18 AAA 3.36 3137EAEX3 FHLMC 09/23/2025 2,000,000.00 10/06/2020 1,991,000.00 97.29 1,945,840.00 2.82% Aaa/AA+ 3.73

0.375% 0.47% 1,993,241.19 1.12% 2,041.67 -47,401.19 AAA 3.73 3135G06G3 FNMA 11/07/2025 2,000,000.00 01/20/2021 2,000,620.00 97.57 1,951,360.00 2.83% Aaa/AA+ 3.85

0.500% 0.49% 2,000,497.58 1.15% 1,500.00 -49,137.58 AAA 3.85 3130AL7M0 FHLB 02/24/2026 2,000,000.00 02/24/2021 2,000,000.00 98.04 1,960,780.00 2.83% Aaa/AA+ 4.15

0.625% 02/24/2022 0.63% 2,000,000.00 1.11% 4,409.72 -39,220.00 AAA 3.74 Run Date: 1/11/2022 - 9:34 AM
Amortizing
18 5.1.a
Packet Pg. 25
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 2021
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
34,458,533.56 34,615,694.18 48.74% 1.99
Total U.S. Agencies 34,323,000.00 1.40% 34,398,884.52 0.61% 110,232.24 216,809.64 1.94 U.S. Treasuries
91282CAW1 U.S. Treasury 11/15/2023 1,000,000.00 10/29/2021 993,750.00 99.18 991,760.00 1.41% Aaa/AA+ 1.87

0.250% 0.56% 994,277.11 0.69% 324.59 -2,517.11 AAA 1.90 91282CCC3 U.S. Treasury 05/15/2024 2,000,000.00 08/17/2021 1,993,671.88 98.64 1,972,740.00 2.83% Aaa/AA+ 2.37

0.250% 0.37% 1,994,530.79 0.83% 649.17 -21,790.79 AAA 2.39 912828YM6 U.S. Treasury 10/31/2024 2,000,000.00 04/06/2021 2,067,656.26 101.57 2,031,320.00 2.91% Aaa/AA+ 2.84

1.500% 0.54% 2,053,699.55 0.94% 5,138.12 -22,379.55 AAA 2.81 912828G38 U.S. Treasury 11/15/2024 2,000,000.00 07/23/2021 2,118,750.00 103.67 2,073,440.00 2.98% Aaa/AA+ 2.88

2.250% 0.44% 2,102,962.43 0.95% 5,842.54 -29,522.43 AAA 2.82 912828ZF0 U.S. Treasury 03/31/2025 2,000,000.00 07/23/2021 1,998,359.38 98.34 1,966,800.00 2.83% Aaa/AA+ 3.25

0.500% 0.52% 1,998,555.47 1.02% 2,554.95 -31,755.47 AAA 3.25 91282CAT8 U.S. Treasury 10/31/2025 2,000,000.00 04/06/2021 1,946,875.00 96.65 1,933,040.00 2.77% Aaa/AA+ 3.84

0.250% 0.84% 1,955,437.39 1.15% 856.35 -22,397.39 AAA 3.85 91282CCW9 U.S. Treasury 08/31/2026 1,000,000.00 08/31/2021 997,798.42 97.76 977,620.00 1.41% Aaa/AA+ 4.67

0.750% 0.80% 997,945.51 1.25% 2,548.34 -20,325.51 AAA 4.61 91282CCZ2 U.S. Treasury 09/30/2026 1,000,000.00 10/13/2021 990,351.56 98.22 982,150.00 1.40% Aaa/AA+ 4.75

0.875% 1.08% 990,771.98 1.26% 2,235.58 -8,621.98 AAA 4.68 13,107,212.50 12,928,870.00 18.54% 3.20
Total U.S. Treasuries 13,000,000.00 0.60% 13,088,180.23 1.00% 20,149.64 -159,310.23 3.18 70,639,284.44 70,742,669.86 100.00% 2.01
TOTAL PORTFOLIO 70,386,035.02 1.19% 70,575,027.56 0.68% 189,865.32 167,642.30 1.95 TOTAL MARKET VALUE PLUS ACCRUED INTEREST 70,932,535.18
Run Date: 1/11/2022 - 9:34 AM
Amortizing
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Packet Pg. 26
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Maturity Report
City of San Ramon December 31, 2021
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
Issuer YTM
Days to
Maturity
Book
FIGXX Fidelity Govt MMF 1,162,710.99 0.010% 01/01/2022 1,162,710.99 1 1,162,710.99 0.01% 1 9807828 LAIF 06/16/2021 4,593,324.03 0.203% 01/01/2022 4,593,324.03 1 4,593,324.03 0.20% 1 88413QBY3 Third Federal Savings & Loan 01/31/2018 247,989.90 2.500% 01/31/2022 248,000.00 1,430 248,481.12 2.28% 31 3133ECHP2 FFCB 01/03/2018 999,381.23 1.900% 03/11/2022 1,000,000.00 1,458 1,003,300.00 2.23% 70 313378CR0 FHLB 08/15/2018 998,995.72 2.250% 03/11/2022 1,000,000.00 1,234 1,004,050.00 2.80% 70 27002YEM4 EagleBank 05/10/2019 248,000.00 2.600% 05/10/2022 248,000.00 966 250,103.04 2.60% 130 227563AQ6 Cross River Bank 05/15/2019 248,000.00 2.500% 05/16/2022 248,000.00 961 250,105.52 2.16% 136 33847E2J5 Flagstar Bank 06/12/2019 248,000.00 2.500% 06/13/2022 248,000.00 933 250,539.52 2.50% 164 59217GDB2 MetLife 06/17/2019 999,792.50 2.400% 06/17/2022 1,000,000.00 928 1,009,270.00 2.45% 168 89116FG87 Toronto Dominion Holdings USA 10/13/2021 1,248,949.63 0.000% 07/08/2022 1,250,000.00 79 1,248,125.00 0.16% 189 89233HGV0 Toyota Motor Credit 11/01/2021 1,248,103.34 0.000% 07/29/2022 1,250,000.00 60 1,247,912.50 0.26% 210 02587DV47 American Express National Bank 08/09/2017 247,929.74 2.350% 08/08/2022 248,000.00 1,605 251,129.76 2.40% 220 3130AJY52 FHLB 08/14/2020 999,405.95 0.125% 08/12/2022 1,000,000.00 504 999,180.00 0.22% 224 38148PMR5 Goldman Sachs Bank 08/17/2017 247,927.19 2.350% 08/16/2022 248,000.00 1,597 251,236.40 2.40% 228 254673BZ8 Discover Bank 09/08/2017 247,920.16 2.350% 09/07/2022 248,000.00 1,575 251,486.88 2.40% 250 3133EJZH5 FFCB 09/28/2018 998,712.59 2.800% 09/13/2022 1,000,000.00 1,190 1,018,640.00 3.00% 256 3135G0T78 FNMA 10/06/2017 1,000,234.33 2.000% 10/05/2022 1,000,000.00 1,547 1,012,680.00 1.97% 278 3135G0T78 FNMA 10/06/2017 999,899.48 2.000% 10/05/2022 1,000,000.00 1,547 1,012,680.00 2.01% 278 3133EKHN9 FFCB 05/03/2019 999,792.30 2.330% 10/18/2022 1,000,000.00 973 1,017,510.00 2.36% 291 3133EHM91 FFCB 11/30/2017 999,366.05 2.080% 11/01/2022 1,000,000.00 1,492 1,016,270.00 2.16% 305 14042RJZ5 Capital One Bank NA 11/09/2017 247,900.37 2.400% 11/08/2022 248,000.00 1,513 252,392.08 2.45% 312 3133ELZF4 FFCB 05/14/2020 1,999,652.22 0.270% 11/14/2022 2,000,000.00 596 2,002,620.00 0.29% 318 166764AB6 Chevron 12/31/2018 992,277.24 2.355% 12/05/2022 1,000,000.00 1,096 1,012,660.00 3.25% 339 3130A3KM5 FHLB 12/22/2017 1,001,526.39 2.500% 12/09/2022 1,000,000.00 1,470 1,019,800.00 2.33% 343 3133EFUJ4 FFCB 05/01/2020 1,297,384.16 2.150% 12/29/2022 1,275,000.00 609 1,300,372.50 0.37% 363 61747MF63 Morgan Stanley Bank 01/12/2018 247,879.93 2.650% 01/11/2023 248,000.00 1,449 253,823.04 2.70% 376 3135G0T94 FNMA 01/23/2018 998,783.50 2.375% 01/19/2023 1,000,000.00 1,438 1,020,480.00 2.50% 384 478160BT0 Johnson & Johnson 03/13/2020 1,009,819.66 2.050% 03/01/2023 1,000,000.00 658 1,014,440.00 1.19% 425 87165E2L0 Synchrony Bank 04/27/2020 247,840.09 1.100% 04/24/2023 248,000.00 613 250,120.40 1.15% 479 3134GVQ68 FHLMC 06/16/2020 2,000,000.00 0.375% 06/16/2023 2,000,000.00 563 1,994,680.00 0.38% 532 17312QN96 Citibank 06/29/2018 247,830.71 3.300% 06/28/2023 248,000.00 1,281 258,344.08 3.35% 544 594918BQ6 Microsoft 05/01/2019 991,080.34 2.000% 08/08/2023 1,000,000.00 975 1,018,960.00 2.59% 585 313383YJ4 FHLB 10/23/2018 1,003,386.06 3.375% 09/08/2023 1,000,000.00 1,165 1,045,580.00 3.16% 616 29278TLY4 EnerBank 09/30/2019 247,792.62 2.000% 09/27/2023 248,000.00 823 254,130.56 2.05% 635 13063DDG0 State of California 11/27/2019 1,006,846.24 2.250% 10/01/2023 1,000,000.00 765 1,024,990.00 1.84% 639 90348JEV8 UBS Bank USA 10/25/2018 247,793.09 3.450% 10/24/2023 248,000.00 1,163 260,789.36 3.50% 662 Run Date: 1/11/2022 - 9:35 AM
Amortizing
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Packet Pg. 27
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Maturity Report
City of San Ramon December 31, 2021
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
Issuer YTM
Days to
Maturity
Book
3136G0X97 FNMA 10/09/2019 2,025,024.86 2.125% 10/30/2023 2,000,000.00 814 2,051,560.00 1.42% 668 61760ARS0 Morgan Stanley Private Bank 11/09/2018 247,790.24 3.550% 11/08/2023 248,000.00 1,148 261,114.24 3.60% 677 3133EKKU9 FFCB 06/04/2019 1,005,803.82 2.300% 11/08/2023 1,000,000.00 941 1,033,670.00 1.97% 677 91282CAW1 U.S. Treasury 10/29/2021 994,277.11 0.250% 11/15/2023 1,000,000.00 63 991,760.00 0.56% 684 3133EJWW5 FFCB 12/31/2018 1,008,339.30 2.950% 12/14/2023 1,005,000.00 1,096 1,052,657.10 2.77% 713 20033AP91 Comenity Capital Bank 02/19/2019 247,756.01 3.100% 02/15/2024 248,000.00 1,046 260,650.48 3.15% 776 87270LBU6 TIAA FSB 02/25/2019 247,753.94 3.000% 02/22/2024 248,000.00 1,040 260,209.04 3.05% 783 05465DAK4 Axos Bank 03/26/2020 248,000.00 1.650% 03/26/2024 248,000.00 645 253,183.20 1.65% 816 91282CCC3 U.S. Treasury 08/17/2021 1,994,530.79 0.250% 05/15/2024 2,000,000.00 136 1,972,740.00 0.37% 866 3133EKQU3 FFCB 06/20/2019 999,173.59 1.950% 06/13/2024 1,000,000.00 925 1,031,190.00 1.99% 895 3133EKA63 FFCB 08/16/2019 1,996,682.00 1.600% 08/16/2024 2,000,000.00 868 2,045,640.00 1.67% 959 32100LCB9 First Missouri State Bank 09/13/2019 248,000.00 1.850% 09/13/2024 248,000.00 840 254,767.92 1.85% 987 3133EKP75 FFCB 09/17/2019 1,998,601.07 1.600% 09/17/2024 2,000,000.00 836 2,034,640.00 1.63% 991 45950KCR9 IFC 01/21/2021 1,090,080.07 1.375% 10/16/2024 1,060,000.00 344 1,070,525.80 0.35% 1,020 912828YM6 U.S. Treasury 04/06/2021 2,053,699.55 1.500% 10/31/2024 2,000,000.00 269 2,031,320.00 0.54% 1,035 3133EK4Y9 FFCB 05/07/2020 1,073,089.97 1.650% 11/01/2024 1,043,000.00 603 1,068,094.58 0.62% 1,036 912828G38 U.S. Treasury 07/23/2021 2,102,962.43 2.250% 11/15/2024 2,000,000.00 161 2,073,440.00 0.44% 1,050 64952WDL4 New York Life 01/22/2020 997,804.12 2.000% 01/22/2025 1,000,000.00 709 1,020,660.00 2.08% 1,118 912828ZF0 U.S. Treasury 07/23/2021 1,998,555.47 0.500% 03/31/2025 2,000,000.00 161 1,966,800.00 0.52% 1,186 880591EW8 TVA 05/11/2020 2,001,911.18 0.750% 05/15/2025 2,000,000.00 599 1,972,420.00 0.72% 1,231 3137EAEX3 FHLMC 10/06/2020 1,993,241.19 0.375% 09/23/2025 2,000,000.00 451 1,945,840.00 0.47% 1,362 459058JL8 IBRD 02/04/2021 2,033,766.64 0.500% 10/28/2025 2,035,000.00 330 1,982,252.80 0.52% 1,397 91282CAT8 U.S. Treasury 04/06/2021 1,955,437.39 0.250% 10/31/2025 2,000,000.00 269 1,933,040.00 0.84% 1,400 3135G06G3 FNMA 01/20/2021 2,000,497.58 0.500% 11/07/2025 2,000,000.00 345 1,951,360.00 0.49% 1,407 637639AE5 National Securities Clearing 01/07/2021 1,003,304.00 0.750% 12/07/2025 1,000,000.00 358 973,270.00 0.66% 1,437 3130AL7M0 FHLB 02/24/2021 2,000,000.00 0.625% 02/24/2026 2,000,000.00 310 1,960,780.00 0.63% 1,516 795451AK9 Sallie Mae Bank 08/11/2021 248,000.00 1.100% 08/11/2026 248,000.00 142 246,397.92 1.10% 1,684 91282CCW9 U.S. Treasury 08/31/2021 997,945.51 0.750% 08/31/2026 1,000,000.00 122 977,620.00 0.80% 1,704 91282CCZ2 U.S. Treasury 10/13/2021 990,771.98 0.875% 09/30/2026 1,000,000.00 79 982,150.00 1.08% 1,734 Net Maturities and Averages 70,575,027.56 70,386,035.02 70,742,669.86 1.19% 735 Run Date: 1/11/2022 - 9:35 AM
Amortizing
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Packet Pg. 28
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Summary by Issuer
City of San Ramon December 31, 2021
Issuer Investments
Number of Par
Value
Book
Value
% of
Portfolio YTM Maturity
Book Days to
FFCB 12 15,323,000.00 15,375,978.30 21.79 1.61 607
U.S. Treasury 8 13,000,000.00 13,088,180.23 18.55 0.60 1,167 FNMA 5 7,000,000.00 7,024,439.75 9.95 1.47 727
FHLB 5 6,000,000.00 6,003,314.12 8.51 1.63 714
LAIF 1 4,593,324.03 4,593,324.03 6.51 0.20 1
FHLMC 2 4,000,000.00 3,993,241.19 5.66 0.42 946
IBRD 1 2,035,000.00 2,033,766.64 2.88 0.52 1,397
TVA 1 2,000,000.00 2,001,911.18 2.84 0.72 1,231
Toronto Dominion Bank 1 1,250,000.00 1,248,949.63 1.77 0.16 189 Toyota 1 1,250,000.00 1,248,103.34 1.77 0.26 210
Fidelity Govt MMF 1 1,162,710.99 1,162,710.99 1.65 0.01 1 IFC 1 1,060,000.00 1,090,080.07 1.54 0.35 1,020
Johnson & Johnson 1 1,000,000.00 1,009,819.66 1.43 1.19 425 State of California 1 1,000,000.00 1,006,846.24 1.43 1.84 639 National Securities Clearing 1 1,000,000.00 1,003,304.00 1.42 0.66 1,437 MetLife 1 1,000,000.00 999,792.50 1.42 2.45 168
New York Life 1 1,000,000.00 997,804.12 1.41 2.08 1,118 Chevron 1 1,000,000.00 992,277.24 1.41 3.25 339
Microsoft 1 1,000,000.00 991,080.34 1.40 2.59 585
Sallie Mae Bank 1 248,000.00 248,000.00 0.35 1.10 1,684 Third Federal Savings & Loan 1 248,000.00 247,989.90 0.35 2.28 31 Axos Bank 1 248,000.00 248,000.00 0.35 1.65 816
Cross River Bank 1 248,000.00 248,000.00 0.35 2.16 136
EagleBank 1 248,000.00 248,000.00 0.35 2.60 130
First Missouri State Bank 1 248,000.00 248,000.00 0.35 1.85 987 Flagstar Bank 1 248,000.00 248,000.00 0.35 2.50 164
Goldman Sachs Bank 1 248,000.00 247,927.19 0.35 2.40 228 Discover Bank 1 248,000.00 247,920.16 0.35 2.40 250
Capital One Bank NA 1 248,000.00 247,900.37 0.35 2.45 312 American Express National Bank 1 248,000.00 247,929.74 0.35 2.40 220 Morgan Stanley Bank 1 248,000.00 247,879.93 0.35 2.70 376 Morgan Stanley Private Bank 1 248,000.00 247,790.24 0.35 3.60 677 Synchrony Bank 1 248,000.00 247,840.09 0.35 1.15 479
UBS Bank USA 1 248,000.00 247,793.09 0.35 3.50 662
Citigroup 1 248,000.00 247,830.71 0.35 3.35 544
EnerBank 1 248,000.00 247,792.62 0.35 2.05 635
Run Date: 1/11/2022 - 9:35 AM
Amortizing
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Packet Pg. 29
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Summary by Issuer
City of San Ramon December 31, 2021
Issuer Investments
Number of Par
Value
Book
Value
% of
Portfolio YTM Maturity
Book Days to
Comenity Capital Bank 1 248,000.00 247,756.01 0.35 3.15 776 TIAA FSB 1 248,000.00 247,753.94 0.35 3.05 783
Total and Average 65 70,386,035.02 70,575,027.56 100.00% 1.19 735 Run Date: 1/11/2022 - 9:35 AM
Amortizing
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Packet Pg. 30
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned Summary
City of San Ramon December 31, 2021
December 31 Month End Fiscal Year To Date
Interest
Interest Received/Purchased
Plus Accrued Interest at End of Period
Less Accrued Interest at Beginning of Period
Interest Earned During Period
Total Adjustments for Amortization/Accretion
Total Capital Gains or Losses
Total Earnings During Period
105,889.30 565,581.42
189,865.32 189,865.32
-218,243.88 -237,134.27
77,510.74 518,312.47
-6,530.93 -38,923.08

0.00 5,093.06
70,979.81 484,482.45
Run Date: 1/11/2022 - 9:35 AM
Amortizing
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Packet Pg. 31
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned
City of San Ramon December 01, 2021 - December 31, 2021 CUSIP Value
Ending Par
Date
Maturity
Book Value
Beginning
Value
Ending Book
Accrued
Beginning
/Purchased
Int.Received
Accrued
Ending
Issuer Earned
Interest Amortization/
Accretion Earned
Net Income
Certificates of Deposit
88413QBY3 Third Federal Savings & Loan 01/31/2022 248,000.00 247,979.79 247,989.90 2,106.30 0.00 2,632.88 526.58 10.10 536.68 27002YEM4 EagleBank 05/10/2022 248,000.00 248,000.00 248,000.00 370.98 529.97 388.65 547.64 0.00 547.64 227563AQ6 Cross River Bank 05/16/2022 248,000.00 248,000.00 248,000.00 271.78 0.00 798.36 526.58 0.00 526.58 33847E2J5 Flagstar Bank 06/13/2022 248,000.00 248,000.00 248,000.00 2,921.64 3,108.49 339.73 526.58 0.00 526.58 02587DV47 American Express National Bank 08/08/2022 248,000.00 247,919.85 247,929.74 1,836.22 0.00 2,331.20 494.98 9.90 504.88 38148PMR5 Goldman Sachs Bank 08/16/2022 248,000.00 247,917.29 247,927.19 1,708.48 0.00 2,203.46 494.98 9.90 504.88 254673BZ8 Discover Bank 09/07/2022 248,000.00 247,910.26 247,920.16 1,357.21 0.00 1,852.19 494.98 9.90 504.88 14042RJZ5 Capital One Bank NA 11/08/2022 248,000.00 247,890.47 247,900.37 375.06 0.00 880.57 505.51 9.90 515.41 61747MF63 Morgan Stanley Bank 01/11/2023 248,000.00 247,870.03 247,879.93 2,574.78 0.00 3,132.95 558.17 9.90 568.07 87165E2L0 Synchrony Bank 04/24/2023 248,000.00 247,829.74 247,840.09 284.01 0.00 515.70 231.69 10.35 242.04 17312QN96 Citibank 06/28/2023 248,000.00 247,821.07 247,830.71 3,497.82 4,103.21 89.69 695.08 9.65 704.73 29278TLY4 EnerBank 09/27/2023 248,000.00 247,782.49 247,792.62 54.36 407.67 67.95 421.26 10.12 431.38 90348JEV8 UBS Bank USA 10/24/2023 248,000.00 247,783.40 247,793.09 164.09 703.23 187.53 726.67 9.69 736.36 61760ARS0 Morgan Stanley Private Bank 11/08/2023 248,000.00 247,780.64 247,790.24 554.77 0.00 1,302.51 747.74 9.60 757.34 20033AP91 Comenity Capital Bank 02/15/2024 248,000.00 247,746.26 247,756.01 337.01 631.89 358.07 652.95 9.75 662.70 87270LBU6 TIAA FSB 02/22/2024 248,000.00 247,744.20 247,753.94 2,058.74 0.00 2,690.63 631.89 9.74 641.63 05465DAK4 Axos Bank 03/26/2024 248,000.00 248,000.00 248,000.00 56.05 336.33 67.27 347.55 0.00 347.55 32100LCB9 First Missouri State Bank 09/13/2024 248,000.00 248,000.00 248,000.00 993.02 0.00 1,382.68 389.66 0.00 389.66 795451AK9 Sallie Mae Bank 08/11/2026 248,000.00 248,000.00 248,000.00 837.08 0.00 1,068.78 231.70 0.00 231.70 Certificates of Deposit - Sub Total 4,712,000.00 4,709,975.49 4,710,103.99 22,359.40 9,820.79 22,290.80 9,752.19 128.50 9,880.69 Commercial Paper
89116FG87 Toronto Dominion Holdings USA 07/08/2022 1,250,000.00 1,248,777.52 1,248,949.63 0.00 0.00 0.00 0.00 168.55 168.55 89233HGV0 Toyota Motor Credit 07/29/2022 1,250,000.00 1,247,823.85 1,248,103.34 0.00 0.00 0.00 0.00 272.85 272.85 Commercial Paper - Sub Total 2,500,000.00 2,496,601.37 2,497,052.98 0.00 0.00 0.00 0.00 441.41 441.41 Corporate Bonds
59217GDB2 MetLife 06/17/2022 1,000,000.00 999,753.75 999,792.50 10,933.33 12,000.00 933.33 2,000.00 38.75 2,038.75 166764AB6 Chevron 12/05/2022 1,000,000.00 991,585.65 992,277.24 11,513.33 11,775.00 1,700.83 1,962.50 691.59 2,654.09 478160BT0 Johnson & Johnson 03/01/2023 1,000,000.00 1,010,544.45 1,009,819.66 5,125.00 0.00 6,833.33 1,708.33 -724.78 983.55 594918BQ6 Microsoft 08/08/2023 1,000,000.00 990,601.12 991,080.34 6,277.78 0.00 7,944.44 1,666.66 479.22 2,145.88 64952WDL4 New York Life 01/22/2025 1,000,000.00 997,742.29 997,804.12 7,166.67 0.00 8,833.33 1,666.66 61.83 1,728.49 637639AE5 National Securities Clearing 12/07/2025 1,000,000.00 1,003,376.33 1,003,304.00 3,625.00 3,750.00 500.00 625.00 -72.33 552.67 Run Date: 1/11/2022 - 9:35 AM
Amortizing
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Packet Pg. 32
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned
City of San Ramon December 01, 2021 - December 31, 2021 CUSIP Value
Ending Par
Date
Maturity
Book Value
Beginning
Value
Ending Book
Accrued
Beginning
/Purchased
Int.Received
Accrued
Ending
Issuer Earned
Interest Amortization/
Accretion Earned
Net Income
Corporate Bonds - Sub Total 6,000,000.00 5,993,603.59 5,994,077.86 44,641.11 27,525.00 26,745.26 9,629.15 474.27 10,103.42 LAIF
9807828 LAIF 01/01/2022 4,593,324.03 6,593,324.03 4,593,324.03 0.00 0.00 0.00 0.00 0.00 0.00 LAIF - Sub Total 4,593,324.03 6,593,324.03 4,593,324.03 0.00 0.00 0.00 0.00 0.00 0.00 Money Market Funds
FIGXX Fidelity Govt MMF 01/01/2022 1,162,710.99 953,554.73 1,162,710.99 13.51 13.51 5.30 5.30 0.00 5.30 Money Market Funds - Sub Total 1,162,710.99 953,554.73 1,162,710.99 13.51 13.51 5.30 5.30 0.00 5.30 Municipal Securities
13063DDG0 State of California 10/01/2023 1,000,000.00 1,007,183.12 1,006,846.24 3,750.00 0.00 5,625.00 1,875.00 -326.01 1,548.99 Municipal Securities - Sub Total 1,000,000.00 1,007,183.12 1,006,846.24 3,750.00 0.00 5,625.00 1,875.00 -326.01 1,548.99 Supranational Securities
45950KCR9 IFC 10/16/2024 1,060,000.00 1,090,977.09 1,090,080.07 1,821.88 0.00 3,036.46 1,214.58 -897.02 317.56 459058JL8 IBRD 10/28/2025 2,035,000.00 2,033,738.87 2,033,766.64 932.71 0.00 1,780.62 847.91 26.87 874.78 Supranational Securities - Sub Total 3,095,000.00 3,124,715.97 3,123,846.71 2,754.59 0.00 4,817.08 2,062.49 -870.15 1,192.34 U.S. Agencies
3133EJ3B3 FFCB 12/17/2021 0.00 1,000,101.46 0.00 12,755.56 14,000.00 0.00 1,244.44 -101.46 1,142.98 313378CR0 FHLB 03/11/2022 1,000,000.00 998,550.97 998,995.72 5,000.00 0.00 6,875.00 1,875.00 444.75 2,319.75 3133ECHP2 FFCB 03/11/2022 1,000,000.00 999,107.21 999,381.23 4,222.22 0.00 5,805.56 1,583.34 274.03 1,857.37 3130AJY52 FHLB 08/12/2022 1,000,000.00 999,322.62 999,405.95 378.47 0.00 482.64 104.17 83.33 187.50 3133EJZH5 FFCB 09/13/2022 1,000,000.00 998,554.22 998,712.59 6,066.67 0.00 8,400.00 2,333.33 158.37 2,491.70 3135G0T78 FNMA 10/05/2022 2,000,000.00 2,000,148.95 2,000,133.81 6,222.22 0.00 9,555.56 3,333.34 -15.14 3,318.20 3133EKHN9 FFCB 10/18/2022 1,000,000.00 999,769.87 999,792.30 2,783.06 0.00 4,724.72 1,941.66 22.43 1,964.09 3133EHM91 FFCB 11/01/2022 1,000,000.00 999,302.86 999,366.05 1,733.33 0.00 3,466.67 1,733.34 63.18 1,796.52 3133ELZF4 FFCB 11/14/2022 2,000,000.00 1,999,617.78 1,999,652.22 255.00 0.00 705.00 450.00 34.44 484.44 3130A3KM5 FHLB 12/09/2022 1,000,000.00 1,001,666.39 1,001,526.39 11,944.44 12,500.00 1,527.78 2,083.34 -139.99 1,943.35 3133EFUJ4 FFCB 12/29/2022 1,275,000.00 1,299,322.45 1,297,384.16 11,574.17 13,706.25 152.29 2,284.37 -1,938.29 346.08 3135G0T94 FNMA 01/19/2023 1,000,000.00 998,683.73 998,783.50 8,708.33 0.00 10,687.50 1,979.17 99.77 2,078.94 3134GVQ68 FHLMC 06/16/2023 2,000,000.00 2,000,000.00 2,000,000.00 3,437.50 3,750.00 312.50 625.00 0.00 625.00 313383YJ4 FHLB 09/08/2023 1,000,000.00 1,003,558.99 1,003,386.06 7,781.25 0.00 10,593.75 2,812.50 -172.93 2,639.57 Run Date: 1/11/2022 - 9:35 AM
Amortizing
26 5.1.a
Packet Pg. 33
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned
City of San Ramon December 01, 2021 - December 31, 2021 CUSIP Value
Ending Par
Date
Maturity
Book Value
Beginning
Value
Ending Book
Accrued
Beginning
/Purchased
Int.Received
Accrued
Ending
Issuer Earned
Interest Amortization/
Accretion Earned
Net Income
U.S. Agencies
3136G0X97 FNMA 10/30/2023 2,000,000.00 2,026,202.05 2,025,024.86 3,659.72 0.00 7,201.39 3,541.67 -1,177.19 2,364.48 3133EKKU9 FFCB 11/08/2023 1,000,000.00 1,006,073.56 1,005,803.82 1,469.44 0.00 3,386.11 1,916.67 -269.74 1,646.93 3133EJWW5 FFCB 12/14/2023 1,005,000.00 1,008,481.60 1,008,339.30 13,753.15 14,823.75 1,400.02 2,470.62 -142.30 2,328.32 3133EKQU3 FFCB 06/13/2024 1,000,000.00 999,144.54 999,173.59 9,100.00 9,750.00 975.00 1,625.00 29.05 1,654.05 3133EKA63 FFCB 08/16/2024 2,000,000.00 1,996,573.16 1,996,682.00 9,333.33 0.00 12,000.00 2,666.67 108.84 2,775.51 3133EKP75 FFCB 09/17/2024 2,000,000.00 1,998,556.63 1,998,601.07 6,577.78 0.00 9,244.44 2,666.66 44.43 2,711.09 3133EK4Y9 FFCB 11/01/2024 1,043,000.00 1,074,004.47 1,073,089.97 1,434.12 0.00 2,868.25 1,434.13 -914.50 519.63 880591EW8 TVA 05/15/2025 2,000,000.00 2,001,959.98 2,001,911.18 666.67 0.00 1,916.67 1,250.00 -48.80 1,201.20 3137EAEX3 FHLMC 09/23/2025 2,000,000.00 1,993,085.06 1,993,241.19 1,416.67 0.00 2,041.67 625.00 156.13 781.13 3135G06G3 FNMA 11/07/2025 2,000,000.00 2,000,508.71 2,000,497.58 666.67 0.00 1,500.00 833.33 -11.13 822.20 3130AL7M0 FHLB 02/24/2026 2,000,000.00 2,000,000.00 2,000,000.00 3,368.06 0.00 4,409.72 1,041.66 0.00 1,041.66 U.S. Agencies - Sub Total 34,323,000.00 35,402,297.25 34,398,884.52 134,307.83 68,530.00 110,232.24 44,454.41 -3,412.72 41,041.69 U.S. Treasuries
91282CAW1 U.S. Treasury 11/15/2023 1,000,000.00 994,017.74 994,277.11 110.50 0.00 324.59 214.09 259.37 473.46 91282CCC3 U.S. Treasury 05/15/2024 2,000,000.00 1,994,335.01 1,994,530.79 220.99 0.00 649.17 428.18 195.78 623.96 912828YM6 U.S. Treasury 10/31/2024 2,000,000.00 2,055,307.95 2,053,699.55 2,569.06 0.00 5,138.12 2,569.06 -1,608.39 960.67 912828G38 U.S. Treasury 11/15/2024 2,000,000.00 2,106,002.27 2,102,962.43 1,988.95 0.00 5,842.54 3,853.59 -3,039.84 813.75 912828ZF0 U.S. Treasury 03/31/2025 2,000,000.00 1,998,517.71 1,998,555.47 1,703.30 0.00 2,554.95 851.65 37.76 889.41 91282CAT8 U.S. Treasury 10/31/2025 2,000,000.00 1,954,450.64 1,955,437.39 428.18 0.00 856.35 428.17 986.74 1,414.91 91282CCW9 U.S. Treasury 08/31/2026 1,000,000.00 997,908.14 997,945.51 1,906.08 0.00 2,548.34 642.26 37.38 679.64 91282CCZ2 U.S. Treasury 09/30/2026 1,000,000.00 990,607.01 990,771.98 1,490.38 0.00 2,235.58 745.20 164.98 910.18 U.S. Treasuries - Sub Total 13,000,000.00 13,091,146.46 13,088,180.23 10,417.44 0.00 20,149.64 9,732.20 -2,966.23 6,765.97 Grand Total 70,386,035.02 73,372,402.00 70,575,027.56 218,243.88 105,889.30 189,865.32 77,510.74 -6,530.93 70,979.81 Run Date: 1/11/2022 - 9:35 AM
Amortizing
27 5.1.a
Packet Pg. 34
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Realized Gains and Losses
City of San Ramon December 01, 2021 - December 31, 2021 CUSIP Par Value Sale Date Days Held Maturity/Sales Realized Issuer Purchase Date Coupon Rate Maturity Date Term Book Value Proceeds Gain/Loss U.S. Agencies
3133EJ3B3 01/03/2019 1,000,000.00 12/17/2021 1,079 1,000,000.00 1,000,000.00 0.00 FFCB 2.800% 12/17/2021 1,079
Total U.S. Agencies 1,000,000.00 1,000,000.00 0.00
Grand Total 1,000,000.00 1,000,000.00 0.00
Run Date: 1/11/2022 - 9:35 AM
Amortizing
28 5.1.a
Packet Pg. 35
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Transaction Report
City of San Ramon December 01, 2021 - December 31, 2021 Transaction Transaction Security Security Maturity
Date Type ID Description Date Purchases Redemptions Interest Deposits Withdrawals 12/02/2021 Withdrawal FIGXX Fidelity Govt MMF - - - - -900,000.00 12/02/2021 Deposit FIGXX Fidelity Govt MMF - - - 9.54 - 12/02/2021 Interest FIGXX Fidelity Govt MMF - - 13.51 - - 12/06/2021 Interest 166764AB6 CVX 2.355 12/05/22 12/05/2022 - - 11,775.00 - - 12/07/2021 Interest 637639AE5 NSCCLF 0 3/4 12/07/25 12/07/2025 - - 3,750.00 - - 12/09/2021 Sell 9807828 LAIF - 1,000,000.00 - - -
12/09/2021 Interest 3130A3KM5 FHLB 2 1/2 12/09/22 12/09/2022 - - 12,500.00 - - 12/10/2021 Interest 27002YEM4 EGBN 2.6 05/10/22 05/10/2022 - - 529.97 - - 12/13/2021 Interest 33847E2J5 FBC 2 1/2 06/13/22 06/13/2022 - - 3,108.49 - - 12/13/2021 Interest 3133EKQU3 FFCB 1.95 06/13/24 06/13/2024 - - 9,750.00 - - 12/14/2021 Interest 3133EJWW5 FFCB 2.95 12/14/23 12/14/2023 - - 14,823.75 - - 12/15/2021 Sell 9807828 LAIF - 1,000,000.00 - - -
12/15/2021 Interest 20033AP91 ADS 3.1 02/15/24 02/15/2024 - - 631.89 - - 12/16/2021 Deposit FIGXX Fidelity Govt MMF - - - 3,257.42 - 12/16/2021 Interest 3134GVQ68 FHLMC 0 3/8 06/16/23 06/16/2023 - - 3,750.00 - - 12/17/2021 Interest 59217GDB2 MET 2.4 06/17/22 06/17/2022 - - 12,000.00 - - 12/17/2021 Interest 3133EJ3B3 FFCB 2.8 12/17/21 12/17/2021 - - 14,000.00 - - 12/17/2021 Maturity 3133EJ3B3 FFCB 2.8 12/17/21 12/17/2021 - 1,000,000.00 - - - 12/27/2021 Interest 05465DAK4 BOFI 1.65 03/26/24 03/26/2024 - - 336.33 - - 12/27/2021 Interest 29278TLY4 CMS 2 09/27/23 09/27/2023 - - 407.67 - - 12/27/2021 Interest 90348JEV8 UBS 3.45 10/24/23 10/24/2023 - - 703.23 - - 12/28/2021 Interest 17312QN96 C 3.3 06/28/23 06/28/2023 - - 4,103.21 - - 12/29/2021 Interest 3133EFUJ4 FFCB 2.15 12/29/22 12/29/2022 - - 13,706.25 - - Grand Total: 0.00 3,000,000.00 105,889.30 3,266.96 -900,000.00 Run Date: 1/11/2022 - 9:35 AM
Amortizing
29 5.1.a
Packet Pg. 36
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Disclosure
Discolure
Custom Benchmark: 24 Month Moving Average of the ICE BofA 0-3Yr Treasury Index Note: The portfolio is not managed on a total return basis, nor is it managed to a specific index; rather, the portfolio is managed to ensure liquidity with the majority of the portfolio needed to fund debt and pension payments. Performance of the portfolio can differ greatly from the index depending on interest rate movements, and cash flow needs of the portfolio.

This report represents the opinions of FHN Financial Main Street Advisors, LLC and should not be considered predictive of any future market performance. Opinions are subject to change without notice. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered investment advice or a recommendation of any particular security, investment strategy, or investment product.

Although this information has been obtained from sources which we believe to be reliable, we do not guarantee its accuracy, and it may be incomplete or condensed. This is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. All herein listed securities are subject to availability and change in price. Past performance is not indicative of future results, and changes in any assumptions may have a material effect on projected results.

Ratings on all securities are subject to change.

FHN Financial Capital Markets, FHN Financial Portfolio Advisors, and FHN Financial Municipal Advisors are divisions of First Horizon Bank. FHN Financial Securities Corp., FHN Financial Main Street Advisors, LLC, and FHN Financial Capital Assets Corp. are wholly owned subsidiaries of First Horizon Bank. FHN Financial Securities Corp. is a member of FINRA and SIPC — http://www.sipc.org/.

FHN Financial Municipal Advisors is a registered municipal advisor. FHN Financial Portfolio Advisors is a portfolio manager operating under the trust powers of First Horizon Bank. FHN Financial Main Street Advisors, LLC is a registered investment advisor. None of the other FHN entities, including FHN Financial Capital Markets, FHN Financial Securities Corp., or FHN Financial Capital Assets Corp. are acting as your advisor, and none owe a fiduciary duty under the securities laws to you, any municipal entity, or any obligated person with respect to, among other things, the information and material contained in this communication. Instead, these FHN entities are acting for their own interests. You should discuss any information or material contained in this communication with any and all internal or external advisors and experts that you deem appropriate before acting on this information or material.

FHN Financial, through First Horizon Bank or its affiliates, offers investment products and services. Investment products are not FDIC insured, have no bank guarantee, and may lose value.

Source: ICE Data Indices, LLC ("ICE"), is used with permission. ICE, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND

REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM. NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS SHALL NOT BE

SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND SUBSCRIBER'S USE IS AT SUBSCRIBER'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND FHN FINANCIAL MAIN STREET ADVISORS, LLC, OR ANY OF ITS PRODUCTS OR SERVICES.

Run Date: 1/11/2022 - 9:35 AM
Amortizing
30 5.1.a
Packet Pg. 37
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Quarterly Economic and Market Update
December 2021

5.1.a
Packet Pg. 38
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
*Estimates for the current quarter/month, some data are lagged Sources: FHN Main Street and Bloomberg Case-Shiller Home Prices YOY* 18.4% 19.7% (1.3%)
Consumer Confidence 115.8 109.8 6.0
Gold (per ounce) $1,829.20 $1,756.95 $72.25
Dollar Index 95.67 94.23 1.44
U.S. Avg Regular Unleaded $3.29 $3.19 $0.09
Retail Sales YOY* 19.4% 14.2% 5.2%
S&P 500 4,766 4,308 10.6%
Consumer Price Index YOY* 6.8% 5.4% 1.4%
1-5 Yr A-AAA Corporate Spread 0.34% 0.30% 0.04%
Dow Jones 36,338 33,844 7.4%
30 Year Mortgage Rate 3.27% 3.18% 0.09%
1-5 Yr Agency Spread -0.01% 0.00% (0.01%)
10 Year T-Note 1.51% 1.49% 0.02%
U.S. Fed Debt Avg Yield* 1.45% 1.47% (0.02%)
3 Year T-Note 0.96% 0.51% 0.45%
5 Year T-Note 1.26% 0.97% 0.30%
2 Year T-Note 0.73% 0.28% 0.46%
3 Month T-Bill 0.04% 0.04% 0.01%
Labor Force Participation 61.9% 61.7% 0.2%
Effective Fed Funds Rate 0.07% 0.06% 0.01%
U.S. Payrolls Monthly Change 199,000 379,000 (180,000)
Unemployment Rate 3.9% 4.7% (0.8%)
12/31/2021
Item 12/31/2021 9/30/2021 Change
2 5.1.a
Packet Pg. 39
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
Estimate: Bloomberg's Survey of Economists
As of: 12/31/2021
12/31/2021

3.5 0.6

3.2 2.9
-1.4

5.2 4.7

1.8 3.3

2.3 1.3

0.6 2.4

1.2 2.4

2.0 1.9

2.3 2.9

3.8 3.1

3.4 1.9

0.9 2.4

3.2 2.8

1.9 -5.1
-31.2

33.8 4.5

6.3 6.7

2.3 6.0

4.0 3.6

3.1 -45
-35
-25
-15
-5
5 15
25 35
45 Q1 2013Q2 2013Q3 2013Q4 2013Q1 2014Q2 2014Q3 2014Q4 2014Q1 2015Q2 2015Q3 2015Q4 2015Q1 2016Q2 2016Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017Q4 2017Q1 2018Q2 2018Q3 2018Q4 2018Q1 2019Q2 2019Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021Q2 2021Q3 2021Q4 2021Q1 2022Q2 2022Q3 2022 Percent
U.S. GDP (Quarter over Quarter Annualized)*
Estimates
3 5.1.a
Packet Pg. 40
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
12/31/2021
Estimate: Bloomberg's Survey of Economists
As of: 12/31/2021

8.7 8.0

4.1 4.7
-0.6

7.1 2.12.1
-0.7

6.9 2.62.6

6.1 4.4

5.8 6.5

6.6 2.7

4.9 3.1

0.2 3.3

5.3 5.6
-0.5
-0.2

5.4 4.6

5.5 3.2
-0.3

2.5 -1.8

4.6 7.2

4.2 3.53.5

4.2 3.7

1.9 -0.1

3.5 2.8

4.0 2.7

3.8 4.4

4.5 4.8

4.1 1.0

1.7 2.8

3.9 3.5

2.8 2.0

0.1 -2.6

2.7 1.5

2.3 1.8

2.3 2.7

1.7 2.3

2.9 2.3
-3.4

5.6 -10
-9
-8
-7
-6
-5
-4
-3
-2
-1
0 1
2 3
4 5
6 7
8 9
10 195019521954195619581960196219641966196819701972197419761978198019821984198619881990199219941996199820002002200420062008201020122014201620182020 Percent
U.S. Annual GDP *
1950s 4.2% 1960s 4.5% 1970s 3.3% 1980s 3.2% 1990s 3.2% 2000s 1.9% 2010s 2.3% 4 5.1.a
Packet Pg. 41
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: Bureau of Labor Statistics
12 Month Average Job Change 537,333
12/31/2021
-22
-20
-18
-16
-14
-12
-10
-8
-6
-4
-2
0 2
4 6
Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Millions
U.S. Monthly Non-Farm Payrolls Change
-25.0
-20.0
-15.0
-10.0
-5.0

0.0 5.0

10.0 15.0

20.0 Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Millions
U.S. Monthly Non-Farm Payrolls YOY Change
5 5.1.a
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Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: Bureau of Labor Statistics
12/31/2021
05 10
15 20
25 30
Jun-17
Aug-17
Oct-17
Dec-17
Feb-18
Apr-18
Jun-18
Aug-18
Oct-18
Dec-18
Feb-19
Apr-19
Jun-19
Aug-19
Oct-19
Dec-19
Feb-20
Apr-20
Jun-20
Aug-20
Oct-20
Dec-20
Feb-21
Apr-21
Jun-21
Aug-21
Oct-21
Dec-21
Percent
Unemployment Rates
U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 6 5.1.a
Packet Pg. 43
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: Bureau of Labor Statistics
12/31/2021
128
130
132
134
136
138
140
142
144
146
148
150
152
154
Dec-11
Jul-12
Feb-13Sep-13
Apr-14
Nov-14
Jun-15
Jan-16
Aug-16
Mar-17
Oct-17
May-18
Dec-18
Jul-19
Feb-20Sep-20
Apr-21
Nov-21
Millions
U.S. Number of Employed
Full-Time and Part-TIme

60.0 60.5

61.0 61.5

62.0 62.5

63.0 63.5

64.0 64.5
Dec-11
Jul-12
Feb-13Sep-13
Apr-14
Nov-14
Jun-15
Jan-16
Aug-16
Mar-17
Oct-17
May-18
Dec-18
Jul-19
Feb-20Sep-20
Apr-21
Nov-21
Percent
U.S. Labor Force Participation Rate
7 5.1.a
Packet Pg. 44
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: Department of Labor and Bloomberg
12/31/2021
Weekly Initial Jobless Claims is the actual number of people who have filed for Unemployment benefits for the first time. The following five eligibility criteria must be met in order to file for unemployment benefits: 1. Meet the requirements of time worked during a 1 year period (full time or not). 2. Become unemployed through no fault of your own (cannot be fired). 3. Must be able to work; no physical or mental holdbacks. 4. Must be available for work. 5. Must be actively seeking work.

0.0 0.5

1.0 1.5

2.0 2.5

3.0 3.5

4.0 4.5

5.0 5.5

6.0 199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021 Millions
Weekly Initial Jobless Claims
(4 Week Moving Average)
8 5.1.a
Packet Pg. 45
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
*Real: Inflation Adjusted
Source: U.S. Census Bureau Source: Conference Board
12/31/2021
-30
-20
-10
0 10
20 30
40 50
60 Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Percent
U.S. Real* Retail Sales YOY % Change
40 50
60 70
80 90
100
110
120
130
140
Jun-11
Dec-11
Jun-12
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Index Value
U.S. Consumer Confidence
9 5.1.a
Packet Pg. 46
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
CPIX: Consumer Price Index, excluding food and energy PCEC: Personal Consumption Expenditure Core Source: Bureau of Labor Statistics and Bureau of Economic Analysis 12/31/2021

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0

8.0 Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Percent
CPI and CPIX YOY % Change

CPI CPIX

0.0 1.0

2.0 3.0

4.0 5.0

6.0 Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Percent
PCE and PCEC YOY % Change

PCE PCEC
10 5.1.a
Packet Pg. 47
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate
12/31/2021
0 2
4 6
8 10
12 14
16 18
20 22
Jul-13
Dec-13
May-14
Oct-14
Mar-15
Aug-15
Jan-16
Jun-16
Nov-16
Apr-17
Sep-17Feb-18
Jul-18
Dec-18
May-19
Oct-19
Mar-20
Aug-20
Jan-21
Jun-21
YOY Percent
Case-Shiller 20 City U.S. Home Price Index
YOY % Increase
200
300
400
500
600
700
800
900
1,000
1,100

3.0 3.5

4.0 4.5

5.0 5.5

6.0 6.5

7.0 Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
New-Thousands
Existing-Millions
U.S. New and Existing Home Sales
Existing-Left
New-Right
11 5.1.a
Packet Pg. 48
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: U.S. Treasury
12/31/2021
$12
$13
$14
$15
$16
$17
$18
$19
$20
$21
$22
$23
$24
$25
$26
$27
$28
$29
$30
$31
Dec-11
Jun-12
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Trillions
U.S. Federal Debt Outstanding

1.3 1.5

1.7 1.9

2.1 2.3

2.5 2.7
Dec-11
Jun-12
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Percent
U.S. Treasury Interest Bearing Debt Avg Rate
12 5.1.a
Packet Pg. 49
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Fed Funds Anticipated Rate from the December 15, 2021 FOMC Meeting Source: Bloomberg
12/31/2021

0.00 0.50

1.00 1.50

2.00 2.50
Jan-2022
Feb-2022
Mar-2022
Apr-2022
May-2022
Jun-2022
Jul-2022
Aug-2022
Sep-2022
Oct-2022
Nov-2022
Dec-2022
Jan-2023
Feb-2023
Mar-2023
Apr-2023
May-2023
Jun-2023
Jul-2023
Aug-2023
Sep-2023
Oct-2023
Nov-2023
Dec-2023
Jan-2024
Feb-2024
Mar-2024
Apr-2024
May-2024
Jun-2024
Jul-2024
Aug-2024
Sep-2024
Oct-2024
Nov-2024
Dec-2024
Percent
Fed Funds Futures
Fed's Anticipated Rates
Fed Funds Futures
13 5.1.a
Packet Pg. 50
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: Bloomberg
Figures may not total due to rounding
12/31/2021
3Y 0.96 0.51 0.45
30Y 1.90 2.05 -0.14
5Y 1.26 0.97 0.30
10Y

0.04 1.51 1.49 0.02
12/31/21 9/30/21 Change
3M
Maturity
2Y 0.73 0.28 0.46
1Y 0.38 0.07 0.31
6M 0.19 0.05 0.14

0.04 0.01

0.0 0.5

1.0 1.5

2.0 2.5
3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y
Percent
U.S. Treasury Yield Curve Change
12/31/21
9/30/21
-20
-10
0 10
20 30
40 50
3M6M
1Y2Y
3Yr
5Y
10Y30Y
Basis Points
Basis Point Change
14 5.1.a
Packet Pg. 51
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: Bloomberg
12/31/2021

0.00 0.25

0.50 0.75

1.00 1.25

1.50 1.75

2.00 2.25

2.50 2.75
Dec-16
Mar-17
Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Percent
U.S. Treasury Yields: 3M and 1Y
1Y
3M

0.00 0.25

0.50 0.75

1.00 1.25

1.50 1.75

2.00 2.25

2.50 2.75

3.00 3.25
Dec-16
Mar-17
Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Percent
U.S. Treasury Yields: 2Y and 5Y
5Y
2Y
15 5.1.a
Packet Pg. 52
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: Bloomberg
12/31/2021
0123456789
10 11
12 13
14 15
16 17
18 19
20 21
Jan-54Jan-56Jan-58Jan-60Jan-62Jan-64Jan-66Jan-68Jan-70Jan-72Jan-74Jan-76Jan-78Jan-80Jan-82Jan-84Jan-86Jan-88Jan-90Jan-92Jan-94Jan-96Jan-98Jan-00Jan-02Jan-04Jan-06Jan-08Jan-10Jan-12Jan-14Jan-16Jan-18Jan-20Jan-22 Percent
U.S. Treasury Yields 2Yr and 5Yr - Fed Funds Target Rate 5Yr
2Yr
Fed Funds
16 5.1.a
Packet Pg. 53
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: Bloomberg
12/31/2021
Global Treasury Rates
2 Year Yields 5 Year Yields 10 Year Yields -0.75% -0.70% -0.66% -0.64% -0.62% -0.09% -0.07%

0.59%

0.66%

0.73%

0.95%
-4.0% -2.0% 0.0% 2.0% 4.0%
Switzlnd
France
Portugal
Germany
Spain
Japan
Italy
Australia
England
USA
Canada
-0.46% -0.43% -0.26% -0.26% -0.16% -0.09%

0.41%

0.81%

1.26%

1.26%

1.33%
-4.0% -2.0% 0.0% 2.0% 4.0%
Germany
Switzlnd
France
Portugal
Spain
Japan
Italy
England
Canada
USA
Australia
-0.18% -0.15%

0.07%

0.20%

0.46%

0.56%

0.97%

1.17%

1.42%

1.51%

1.67%
-2.0% -1.0% 0.0% 1.0% 2.0% 3.0%
Germany
Switzlnd
Japan
France
Portugal
Spain
England
Italy
Canada
USA
Australia
17 5.1.a
Packet Pg. 54
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
ICE BofAML Index (option adjusted spread vs. Treasury) ICE BofAML Index (option adjusted spread vs. Treasury) 1-5Yr Non-Callable Agency (GVPB) Corporate A-AAA Excluding Yankee (CVAC) Source: ICE BofAML Indices
12/31/2021
Current Spread is -1 Current Spread is 34
-50
0 50
100
150
200
250
300
350
400
450
500
550
600
650
Nov-07Nov-08Nov-09Nov-10Nov-11Nov-12Nov-13Nov-14Nov-15Nov-16Nov-17Nov-18Nov-19Nov-20Nov-21 Basis Points
Spread: 1-5Yr Agency vs Treasury
0 50
100
150
200
250
300
350
400
450
500
550
600
650
Nov-07Nov-08Nov-09Nov-10Nov-11Nov-12Nov-13Nov-14Nov-15Nov-16Nov-17Nov-18Nov-19Nov-20Nov-21 Basis Points
Spread: 1-5Yr A-AAA Corporate vs Treasury
18 5.1.a
Packet Pg. 55
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
*ICE BofAML Index (option adjusted spread vs. Treasury) *ICE BofAML Index (option adjusted spread vs. Treasury) AAA Rated ABS (R0A1) CMO Agency 0-3Yr PAC (CM1P)
Source: ICE BofAML Indices
12/31/2021
Current Spread is 39 Current Spread is 40
0 50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
Nov-07Nov-08Nov-09Nov-10Nov-11Nov-12Nov-13Nov-14Nov-15Nov-16Nov-17Nov-18Nov-19Nov-20Nov-21 Basis Points
Spread: AAA Asset Backed vs Treasury
-150
-100
-50
0 50
100
150
200
250
300
Nov-07Nov-08Nov-09Nov-10Nov-11Nov-12Nov-13Nov-14Nov-15Nov-16Nov-17Nov-18Nov-19Nov-20Nov-21 Basis Points
Spread: 0-3Yr Agency CMO vs Treasury
19 5.1.a
Packet Pg. 56
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: Bloomberg
12/31/2021
-2.8
-1.9
-0.7
-0.6
-0.1
-0.1 0.0

0.1 0.2 0.7

1.3 2.4 2.8 3.2 3.4

4.2 5.6

7.8 8.0

11.1 11.3

15.0 (4)
(2) 02468
10 12
14 16
Percent
Selected Sector Quarterly Total Returns
20 5.1.a
Packet Pg. 57
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Source: Bloomberg
12/31/2021
-4.6
-4.0
-3.3
-1.8
-0.7
-0.6
-0.1

1.3 4.0 5.7 5.7

10.1 11.5

18.7 20.8

24.7 26.6 27.4 28.7

31.1 40.5

64.7 (10) 0
10 20
30 40
50 60
70 Percent
Selected Sector Year-Over-Year Total Returns
21 5.1.a
Packet Pg. 58
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Sources: Bloomberg, FHN Main Street
12/31/2021

0.85 0.95

1.05 1.15

1.25 1.35

1.45 9/30/2110/3/2110/6/2110/9/21
10/12/2110/15/2110/18/2110/21/2110/24/2110/27/2110/30/21 11/2/2111/5/2111/8/21
11/11/2111/14/2111/17/2111/20/2111/23/2111/26/2111/29/21 12/2/2112/5/2112/8/21
12/11/2112/14/2112/17/2112/20/2112/23/2112/26/2112/29/21 Percent
5 Year Treasury Note Yield
Rising Inflation
Signals Overshadow
Weak Payrolls
Fed Chair Powell
Warns of Elevated
Inflation
Powell ReNominated For
Fed Chair
CPI Rises to
Highest Level
Since 1990
Omicron Cases
Surge, Re-igniting
COVID Concerns
Reports Emerge
Omicron Effects
Less Severe
Growth Slows,
Q3 GDP Slips to
2%
Manchin Says
"No" to Build Back
Better
Retail Sales Beat
Estimates
CPI Hits Highest
Level Since 1982
Initial Jobless Claims
Hit the Lowest Level
in 52 Years
22 5.1.a
Packet Pg. 59
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Economic and Market Update
Sources: Bloomberg, FHN Financial, FHN Main Street
12/31/2021
33,500
34,000
34,500
35,000
35,500
36,000
36,500
37,000
9/30/2110/3/2110/6/2110/9/21
10/12/2110/15/2110/18/2110/21/2110/24/2110/27/2110/30/21 11/2/2111/5/2111/8/21
11/11/2111/14/2111/17/2111/20/2111/23/2111/26/2111/29/21 12/2/2112/5/2112/8/21
12/11/2112/14/2112/17/2112/20/2112/23/2112/26/2112/29/21 Dow Jones Industrial Average
Pfizer Announces
Boosters Effectiveness
Against Omicron
Lockdown Fears
Weigh Heavy on
Investors' Minds
Exponential Uptick
in Omicron Cases
McConnell Signals
Debt Limit Extension
to December
Stocks Hit Highs on
Strong Corporate
Earnings
Consumer Sentiment
Drops to Lowest Level
Since 2011
Retail Sales Much
Higher Than
Expected
Omicron Cases
Spike Globally
Tech Stocks Lead
Market Rally to
All-Time Highs
COVID Cases in
U.S. Trend Lower
23 5.1.a
Packet Pg. 60
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Disclosure
This report represents the opinions of FHN Financial Main Street Advisors, LLC and should not be considered predictive of any future market performance. Opinions are subject to change without notice. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered investment advice or a recommendation of any particular security, investment strategy, or investment product.

Although this information has been obtained from sources which we believe to be reliable, we do not guarantee its accuracy, and it may be incomplete or condensed.

This is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. All herein listed securities are subject to availability and change in price. Past performance is not indicative of future results, and changes in any assumptions may have a material effect on projected results. Ratings on all securities are subject to change.

FHN Financial Capital Markets, FHN Financial Portfolio Advisors, and FHN Financial Municipal Advisors are divisions of First Horizon Bank. FHN Financial Securities Corp., FHN Financial Main Street Advisors, LLC, and FHN Financial Capital Assets Corp. are wholly owned subsidiaries of First Horizon Bank. FHN Financial Securities Corp. is a member of FINRA and SIPC — http://www.sipc.org/.

FHN Financial Municipal Advisors is a registered municipal advisor. FHN Financial Portfolio Advisors is a portfolio manager operating under the trust powers of First Horizon Bank. FHN Financial Main Street Advisors, LLC is a registered investment advisor. None of the other FHN entities, including FHN Financial Capital Markets, FHN Financial Securities Corp., or FHN Financial Capital Assets Corp. are acting as your advisor, and none owe a fiduciary duty under the securities laws to you, any municipal entity, or any obligated person with respect to, among other things, the information and material contained in this communication. Instead, these FHN entities are acting for their own interests. You should discuss any information or material contained in this communication with any and all internal or external advisors and experts that you deem appropriate before acting on this information or material.

FHN Financial, through First Horizon Bank or its affiliates, offers investment products and services. Investment products are not FDIC insured, have no bank guarantee, and may lose value.

Source: ICE Data Indices, LLC ("ICE"), is used with permission. ICE, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES

AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM. NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY

PROVIDERS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND SUBSCRIBER'S USE IS AT SUBSCRIBER'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND FHN FINANCIAL MAIN STREET ADVISORS, LLC, OR ANY OF ITS PRODUCTS OR SERVICES. 24 5.1.a
Packet Pg. 61
Attachment: A: Investment Portfolio Information for City of San Ramon for the Month Ending December Demand deposits held with JP Morgan Chase Bank $ 13,545,653 Investment Portfolio:

Investments held with Union Bank (FTN Financial - Main Street Advisors) 64,818,993 Fidelity US Government Money Market Funds held with Union Bank 1,162,711 Investments held with Local Agency Investment Fund (LAIF) 4,593,324 Total Investment Portfolio 70,575,028

Investments held with Trustee 4,540,355
Total Cash and Investments $ 88,661,036
This investment portfolio is in conformity with the City of San Ramon's adopted investment policy. The Treasurer's cash management program provides sufficient liquidity to meet estimated future expenditures for a period of six months.

Prepared and approved by:

Candace Daniels, Finance Division Manager
Approved by:

Kelly Sessions, Administrative Services Director
Summary of Cash and Investments
For the Period December 31, 2021
Candace Daniels

5.1.b
Packet Pg. 62
Attachment: B: Quarterly Cash Investment Summary at December 31, 2021 (3447 : Quarterly Investment Report) City of San Ramon
Investment Report - Supplementary Information
Investments Held by Trustees at December 31, 2021
Maturity
Description CUSIP Rate Date Cost Market Issue
AMBAC Assurance First American Treasuary Obligation 1.00 - 1.00 - 06(A) TA 2003 COP 94495901 438306 Wells Fargo Money Market 0.74 0.74 2010 POB 82278601
Wells Fargo Money Market 925,736.51 925,737.51 2010 POB 80387800 Wells Fargo Money Market 3.21 3.21 2010 POB 80387802
Wells Fargo Money Market 14,355.87 14,355.87 2010 POB 80387803 Wells Fargo Money Market 2.86 2.86 2010 POB 80387804
Wells Fargo Money Market 16,407.37 16,407.37 2021 POB 80387807 Dreyfus Govt Cash Mgmt X9USDYRUT 0.03% n/a 3,583,846.70 3,583,846.70 2019 COP 217027 Dreyfus Govt Cash Mgmt X9USDYRUT 0.00% n/a 0.72 0.72 2019 COP 217045 $ 4,540,354.98 $ 4,540,355.98

5.1.c
Packet Pg. 63
Attachment: C: Investments Held by Trustees at December 31, 2021 (3447 : Quarterly Investment Report)

FINANCE COMMITTEE STAFF REPORT
DATE: January 24, 2022
TO: Finance Committee/City Manager
FROM: Kelly Sessions, Administrative Services Director
By: Candace Daniels, Finance Division Manager
SUBJECT: California Employer’s Benefit Trust (CERBT) for the Period Ending December 31, 2021

RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the CERBT Statement for the Period Ending December 31, 2021.

BACKGROUND/DISCUSSION
On November 14, 2014, the City Council approved participation in CERBT for purposes of prefunding the long-term obligation for retiree health benefits. Assets in this Trust can only be used for payment of the City’s retiree health benefit obligation and may not be used for other governmental purposes.

At the start of October 2021, the CERBT had a balance of $39,453,996. There were investment earnings of $1,537,006, and expenses of $8,661, which left an ending balance of $40,982,341 at December 31, 2021. As of the most recent actuarial valuation, which has a measurement date of June 30, 2020, the OPEB liability measured $34,128,054 and was 96% funded. With the current ending balance, the funding status of the OPEB liability is exceeding 100%.

FISCAL ANALYSIS
This item is for informational purposes only-there is no fiscal impact.

STEPS FOLLOWING APPROVAL
None
ATTACHMENT:

A: California Employer's Benefit Trust Statement (CERBT) for the Period Ending December 31, 2021

5.2 Packet Pg. 64
City of San Ramon
Please note the Grand Total is your actual fund account balance at the end of the period, including all contributions per GASB 74 paragraph 22 and accrued disbursements. Please review your statement promptly. All information contained in your statement will be considered true and accurate unless you contact us within 30 days of receipt of this statement. If you have questions about the validity of this information, please contact [email protected]. 1,823,882.031 1,823,882.031
$40,982,340.72 $41,282,340.72
Period Ending Unit Value 22.469842 22.469842
Period Beginning Unit Value 21.631879 21.665732

0.000
13,823.995
1,810,058.036

0.000

0.000
1,823,882.031
Current Period Year to Date
Ending Units
Unit Sales for Withdrawals
Unit Purchases from Contributions
Beginning Units
Market Value Summary: Unit Value Summary:

Grand Total $40,982,340.72 $40,982,340.72

0.00 (9,964.01)

0.00 1,483,358.25
300,000.00
$39,516,231.76

0.00 (5,002.90)

0.00 1,537,005.53

0.00 $39,453,995.99
Current Period Year to Date
Ending Balance
Disbursement
Administrative Expenses
Other
Investment Earnings
Contribution
Beginning Balance
QTD Fiscal QTD Fiscal
FY End Contrib per GASB 74 Para 22 0.00 (300,000.00)
Transfer In
Transfer Out

0.00 0.00

0.00 0.00
Unit Transfer In
Unit Transfer Out

0.000

0.000

0.000

0.000
Investment Expense (3,657.90) (7,285.28)
CERBT Strategy 2
Entity #: SKB7-4889155551-001
Quarter Ended December 31, 2021
FY End Disbursement Accrual 0.00 0.00

5.2.a
Packet Pg. 65
Attachment: A: California Employer's Benefit Trust Statement (CERBT) for the Period Ending December Statement of Transaction Detail for the Quarter Ending 12/31/2021 City of San Ramon
Entity #: SKB7-4889155551-001
Date Description Amount Unit Value Units Check/Wire Notes If you have any questions or comments regarding the new statement format please contact [email protected] Client Contact:

[email protected]

5.2.a
Packet Pg. 66
Attachment: A: California Employer's Benefit Trust Statement (CERBT) for the Period Ending December

FINANCE COMMITTEE STAFF REPORT
DATE: January 24, 2022
TO: Finance Committee/City Manager
FROM: Kelly Sessions, Administrative Services Director
By: Candace Daniels, Finance Division Manager
SUBJECT: PARS Pension Stabilization Trust Statement for the Period Ending December 31, 2021

RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the PARS Pension Stabilization Trust Statement for the Period Ending December 31, 2021.

BACKGROUND/DISCUSSION
Participation in the PARS Pension Stabilization Trust (PARS Trust) was approved by Council on November 28, 2017 by Resolution No. 2017-128. The purpose of the PARS Trust was to prefund pension obligations to address unfunded liabilities and large variances in annual pension contributions. Before the PARS Trust was established, the City’s only option for reducing the unfunded pension liability was to commit additional funds to CalPERS. Unfortunately, these additional funds would be subject to the same market volatility risk as the CalPERS investment rate of return. Pre-funding the pension obligations through the PARS Trust verses CalPERS offered the following benefits:
 Provided local control and more flexibility in investment allocations compared to maintaining funds in a City-invested reserve or giving money to CalPERS to pay down unfunded liability
 Offered potential for higher investment returns
 Acted as a reserve fund to help the City pay for increasing CalPERS annual contribution requirements and helped mitigate general fund budget spiking At the start of October 2021, the PARS Trust had a balance of $5,057,801. There were investment earnings of $159,387 and expenses of $7,635, which left an ending, balance of $5,209,553 at December 31, 2021.

FISCAL ANALYSIS

5.3 Packet Pg. 67
This item is for informational purposes only--no fiscal impact.

STEPS FOLLOWING APPROVAL
None
ATTACHMENT:

A: PARS Pension Stabilization Trust Statement for the Period Ending December 31, 2021

5.3 Packet Pg. 68

CITY OF SAN RAMON
PARS Post-Employment Benefits Trust 12/1/2021 to 12/31/2021 Joseph Gorton
City Manager
City of San Ramon
7000 Bollinger Canyon Rd.

San Ramon, CA 94583
Account Summary
Source 12/1/2021 Contributions Earnings Expenses Distributions Transfers 12/31/2021 PENSION 1002 $5,112,547.54 $0.00 $99,555.55 $2,550.44 $0.00 $0.00 $5,209,552.65 Totals $5,112,547.54 $0.00 $99,555.55 $2,550.44 $0.00 $0.00 $5,209,552.65 Investment Selection
Source

PENSION
Investment Objective
Source

PENSION
Investment Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years PENSION 1.95% 3.16% 9.34% 11.80% - - 3/14/2018
Information as provided by US Bank, Trustee for PARS; Not FDIC Insured; No Bank Guarantee; May Lose Value Headquarters - 4350 Von Karman Ave., Suite 100, Newport Beach, CA 92660 800.540.6369 Fax 949.250.1250 www.pars.org Account balances are inclusive of Trust Administration, Trustee and Investment Management fees Annualized Return
Investment Return: Annualized rate of return is the return on an investment over a period other than one year multiplied or divided to give a comparable one-year return.

Past performance does not guarantee future results. Performance returns may not reflect the deduction of applicable fees, which could reduce returns. Information is deemed reliable but may be subject to change.

Account Report for the Period
Balance as of
Moderate HighMark PLUS
Balance as of
The dual goals of the Moderate Strategy are growth of principal and income. It is expected that dividend and interest income will comprise a significant portion of total return, although growth through capital appreciation is equally important. The portfolio will be allocated between equity and fixed income investments.

Plan's Inception Date

5.3.a
Packet Pg. 69
Attachment: A: PARS Pension Stabilization Trust Statement for the Period Ending December 31, 2021 (3453 : PARS Trust Statement)