City of San Ramon
FINANCE COMMITTEE
AGENDA
Mark Armstrong, Chair • Scott Perkins, Vice Chair
City Hall - Training Room, First Floor
7000 Bollinger Canyon Road
Regular Meeting
4:00 PM
February 6, 2023
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 in the Administrative Services Department located at 7000 Bollinger Canyon Road, San Ramon during normal business hours and in the red binder at the Finance Committee meeting.
1. CALL TO ORDER
2. PUBLIC COMMENT
At this time, members of the public are encouraged to address the Committee on any item not already included on the agenda. Comments should not exceed three (3) minutes. No Committee action can be taken at this meeting on issues raised during Public comment.
Written comments submitted were provided to the Committee prior to the start of this meeting and made a part of the public record. Written public comment will not be read aloud during the meeting.
3. APPROVAL OF MINUTES
3.1 Finance Committee - Regular Meeting - December 12, 2022
4. UNFINISHED BUSINESS
5. NEW BUSINESS
5.1 City of San Ramon Quarterly Investment Report (Period Ending December 31, 2022) Staff Report by Miaoxia Joe, Finance Analyst
5.2 California Employer’s Benefit Trust (CERBT) for the Period Ending December 31, 2022 Staff Report by Miaoxia Joe, Finance Analyst
5.3 Public Agency Retirement Services (PARS) Pension Stabilization Trust Statement for the Period Ending December 31, 2022
Staff Report by Miaoxia Joe, Finance Analyst
2 Finance Committee Meeting – February 6, 2023
6. COMMITTEE MEMBER COMMENTS
7. ADJOURNMENT
The next Finance Committee Meeting is scheduled for March 6, 2023.
I hereby certify that the attached Finance Committee Meeting Agenda was posted 72 hours before the noted meeting. To make a request for disability-related accommodation to participate in the meeting, please contact the City Clerk’s Office 48 hours in advance of the meeting at 925-973-2539 or [email protected].
Dated: February 2, 2023
ATTENDEE CONDUCT
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. Specifically, it is important for all speakers to adhere to the following guidelines for participation in this meeting:
a. No profanity or obscenity
b. Refrain from personal threats or attacks.
c. Refrain from hateful epithets and demeaning language based on any person’s race, religion, sexual orientation, ethnicity, gender, or disability. d. Respect all people that are present.
At the discretion of the Committee Chair, a speaker may forfeit speaking time for any of the following reasons:
a. Exceeding the allotted time to speak;
b. Yelling, screaming, or other behavior that renders this Committee unable to continue the meeting;
c. Excessive profanity or slander; Specific threats or “fighting words” that incite violence; or
d. Speech that is outside the subject matter jurisdiction of the Committee or the specific agenda item in which you are speaking.
MINUTES OF THE
CITY OF SAN RAMON FINANCE COMMITTEE
December 12, 2022
1. CALL TO ORDER
The meeting was called to order at 4:07 PM.
Attendee Name Title Status Arrived
Sridhar Verose Chair Present
Sabina Zafar Vice Chair Present
Candace Daniels, Finance Division Manager
Joe Gorton, City Manager
Adolfo Navarro, Accounting Specialist
Kelly Sessions, Administrative Services Director
Steven Spedowfski, Deputy City Manager
Also in attendance via Zoom: Roger Burton, the Consulting Actuary for GovInvest
2. PUBLIC COMMENT
Elena de Formosa spoke about her concerns on the non-disclosure amount expected to pay for new trails maintenance, requested that East Bay Regional Park District pay for City police services, and encouraged Council Member Zafar to join the Open Space Committee.
3. APPROVAL OF MINUTES
3.1 Finance Committee - Regular Meeting - November 7, 2022 4:00 PM RESULT: ACCEPTED [UNANIMOUS]
AYES: Verose, Zafar
4. UNFINISHED BUSINESS
5. NEW BUSINESS
5.1 City of San Ramon Other Post-Employment Benefits (OPEB) Actuarial Valuation Report as of June 30, 2021
Report by Roger Burton from Precision Actuarial, the Consulting Actuary for GovInvest
Public Comment was received from Elena de Formosa requesting clarification on who prepared the report, authenticity on its numbers, and report's conclusion.
The Finance Committee accepted the report.
3.1 Packet Pg. 3
Minutes Acceptance: Minutes of Dec 12, 2022 4:00 PM (APPROVAL OF MINUTES) 2 Finance Committee Meeting – December 12, 2022
RESULT: ACCEPTED
6. COMMITTEE MEMBER COMMENTS
Committee members had nothing additional to report.
7. ADJOURNMENT
The meeting adjourned at 4:52 PM. The next Finance Committee Meeting is scheduled for January 17, 2023.
3.1 Packet Pg. 4
Minutes Acceptance: Minutes of Dec 12, 2022 4:00 PM (APPROVAL OF MINUTES)
FINANCE COMMITTEE STAFF REPORT
DATE: February 6, 2023
TO: Finance Committee/City Manager
FROM: Kelly Sessions, Administrative Services Director
By: Miaoxia Joe, Administraive Analyst
SUBJECT: City of San Ramon Quarterly Investment Report (Period Ending December 31, 2022)
RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the Quarterly Investment Report for the Period Ending December 31, 2022.
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, 2022, the Investments Held by Trustees, and the Summary of Cash and Investments are attached for your review.
The December 31, 2022 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, 2022 totaled $16.7 million. This account is used for daily City operations.
Total funds managed by FHN Financial-Main Street Advisors, as of December 31, 2022 totaled $63.5 million at book value. The portfolio consists of $28.0 million in federal agency securities,
5.1 Packet Pg. 5
$21.0 million in treasury securities, $3.1 million in supranationals, $5.5 million in corporate notes, $2.7 million in FDIC insured CD’s, $1.0 million in municipal bonds, and $2.2 million in commercial paper. The weighted average yield to maturity on investments is 1.87% and the weighted average days to maturity is 641 days, which is 23 days shorter than last quarter. Interest rates are 30 basis points higher than 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, 2022 totals $6.6 million and makes up 9.3% of the portfolio. The current rate is 4.06%. This account is available on a daily basis for immediate cash flow requirements.
The City of San Ramon has $0.6 million invested with the State Treasurer’s Office (Local Agency Investment Fund). The current interest rate is 2.17% and makes up 0.9% 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 $3.4 million. The 2019 Certificates of Participation (COP) investments managed by FHN FinancialMain Street Advisors total $0.3 million and are available for designated capital projects. The remaining $3.1 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
There is no immediate fiscal impact.
STEPS FOLLOWING APPROVAL
The report will be presented to City Council for review and acceptance at the February 14, 2023 City Council meeting.
ATTACHMENT
A: Summary of Cash and Investments at December 31 2022
5.1 Packet Pg. 6
B: Investment Portfolio Information for City of San Ramon for the Month Ending December 31, 2022
C: Investments Held by Trustees at December 31, 2022
D: Investment Terminology
5.1 Packet Pg. 7
Demand deposits held with JP Morgan Chase Bank $ 16,671,860 Investment Portfolio:
Investments held with US Bank (FHN Financial - Main Street Advisors) 63,554,721 Fidelity US Government Money Market Funds held with US Bank 6,593,453 Investments held with Local Agency Investment Fund (LAIF) 610,935 Total Investment Portfolio 70,759,109
Investments held with Trustee 3,388,492
Total Cash and Investments $ 90,819,461
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:
Miaoxia (Michelle) Joe, Finance Analyst
Approved by:
Kelly Sessions, Administrative Services Director
Summary of Cash and Investments
For the Period December 31, 2022
5.1.a
Packet Pg. 8
Attachment: A: Summary of Cash and Investments at December 31 2022 (3860 : Quarterly Investment Report) 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 2022
10655 Park Run Drive, Suite 120 | Las Vegas, NV 89144 | Phone 702.575.6600 | www.FHNMainStreet.com
5.1.b
Packet Pg. 9
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 2
Portfolio Summary
City of San Ramon 12/31/2022
SECTOR ALLOCATION MATURITY DISTRIBUTION CREDIT QUALITY (MOODY'S)
ACCOUNT SUMMARY MONTH-END PORTFOLIO BOOK YIELD TOP ISSUERS 12/31/22 11/30/22 Issuer % Portfolio
Market Value $67,198,144 $71,073,575 U.S. Treasury 29.6% Book Value $70,759,109 $74,658,634 FHLB 12.7%
Variance -$3,560,965 -$3,585,059 FFCB 11.4%
Fidelity Govt MMF 9.3%
Par Value $70,904,388 $74,750,589 FNMA 7.1%
FHLMC 5.6%
Net Asset Value $94.97 $95.20 IBRD 2.9%
TVA 2.8%
Book Yield 1.87% 1.79% MUFG Bank 1.7%
IFC 1.5%
Market Yield 4.44% 4.29% Bank of New York Mellon 1.5%
State of California 1.4%
Years to Maturity 1.76 1.72 National Securities Clearing 1.4% Johnson & Johnson 1.4%
Effective Duration 1.68 1.64 New York Life 1.4% Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22
1.00%
1.10%
1.20%
1.30%
1.40%
1.50%
1.60%
1.70%
1.80%
1.90%
2.00%
0.9%
1.4%
3.1%
3.9%
4.4%
7.8%
9.3%
29.6%
39.6%
LAIF
MUNI
CP
CD
SUPRA
CORP
MMF
TSY
AGY
0% 25% 50% 75% 100%
36.5%
21.6%
26.2%
14.3%
1.4%
0-1Y 1-2Y 2-3Y 3-4Y 4-5Y+
0%
10%
20%
30%
40%
50%
60%
4.7%
0.7%
1.5%
1.4%
83.0%
8.7%
NR
A3
A2
A1
Aa3
Aa2
Aa1
Aaa
P-1
0% 25% 50% 75% 100%
2 5.1.b
Packet Pg. 10
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 3
Investment Policy Compliance
City of San Ramon 12/31/2022
Category Book Value % of Portfolio % Allowed by Policy In Compliance Reserved row US Treasuries 20,952,012.04 29.61% 100% Yes
US Federal Agencies 28,027,587.87 39.61% 100% Yes
Supranational Obligations 3,113,404.92 4.40% 30% Yes
LAIF 610,935.35 0.86% 15% Yes
Commercial Paper 2,181,271.69 3.08% 25% Yes
Money Market Funds 6,593,452.83 9.32% 20% Yes
Negotiable Certificates of Deposit 2,727,364.47 3.85% 30% Yes Corporate Obligations 5,550,146.04 7.84% 30% Yes
State and Local Governments 1,002,934.10 1.42% 3% Yes
Total 70,759,109.32 100.00%
Other Metrics Portfolio Metric In Compliance
Weighted Average Maturity 1.76 Less than 2.5 Years Yes
Liquidity 36.52% 30% Under 365 Days Yes
Ratings Yes
3 5.1.b
Packet Pg. 11
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 4
Historical Book Values
City of San Ramon 12/31/2022
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
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 $70.6 $80.3 $81.7 $81.8 $81.9 $82.0 FY22 Fiscal Year 2023 $76.8 $76.2 $76.3 $75.2 $74.6 $71.7 FY23 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
Mar-22
Jul-22
Nov-22
$50
$60
$70
$80
$90
Millions
4 5.1.b
Packet Pg. 12
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 5
Historical Book Values Per Fiscal Year
City of San Ramon 12/31/2022
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
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 $70.6 $80.3 $81.7 $81.8 $81.9 $82.0 FY22 Fiscal Year 2023 $76.8 $76.2 $76.3 $75.2 $74.6 $71.7 FY23 Figures in Millions, Average Daily Balance
Chart Title
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
$65
$70
$75
$80
$85
$90
Millions
Fiscal Year 2019 Fiscal Year 2020 Fiscal Year 2021 Fiscal Year 2022 Fiscal Year 2023 5 5.1.b
Packet Pg. 13
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 6
Historical Weighted Average Maturity
City of San Ramon 12/31/2022 Don
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
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 1.93 1.96 2.02 1.94 1.86 1.91 Fiscal Year 2023 1.96 1.88 1.82 1.80 1.72 1.76 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
Mar-22
Jul-22
Nov-22
0.00 0.50
1.00 1.50
2.00 2.50
Average Years To Maturity
6 5.1.b
Packet Pg. 14
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 7
Next Twelve Months Cash Flow
City of San Ramon 12/31/2022
Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Maturities $8.5 $0.0 $3.0 $0.2 $2.0 $2.2 $1.0 $1.0 $1.5 $3.2 $2.2 $1.0 1 Par Value in Millions; Assumes Securities Are Held To Maturity $8.5
$0.0
$3.0
$0.2
$2.0
$2.2
$1.0 $1.0
$1.5
$3.2
$2.2
$1.0
Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 $0
$1
$2
$3
$4
$5
$6
$7
$8
$9
Millions
7 5.1.b
Packet Pg. 15
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 8
Yield At Cost Per 6-Month Maturity Intervals
City of San Ramon 12/31/2022
Years Yield At Cost % of Portfolio
0 to .5 3.21% 22.47%
.5 to 1.0 2.60% 14.05%
1.0 to 1.5 1.25% 5.29%
1.5 to 2.0 1.20% 16.31%
2.0 to 2.5 1.33% 10.60%
2.5 to 3.0 0.79% 15.59%
3.0 to 3.5 1.79% 5.53%
3.5 to 4.0 1.54% 8.75%
4.0 to 4.5 2.08% 1.41%
4.5 to 5.0 0.00% 0.00%
5.0+ 0.00% 0.00%
Total 1.87% 100.0%
3.21%
2.60%
1.25%
1.20% 1.33%
0.79%
1.79%
1.54%
2.08%
-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
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
Maturity Intervals
Yield At Cost
Bubble Size = Maturity's % of Portfolio
8 5.1.b
Packet Pg. 16
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 9
Historical Sector Allocation
City of San Ramon 12/31/2022
Sector Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 AGY 48.7% 45.8% 45.8% 45.7% 45.6% 43.1% 45.1% 43.8% 47.6% 44.7% 40.6% 39.6% TSY 18.5% 23.3% 23.3% 23.3% 23.3% 29.2% 28.8% 28.8% 28.8% 28.1% 28.1% 29.6% MMF 2.0% 2.8% 2.2% 2.3% 3.1% 2.4% 4.7% 6.8% 6.3% 6.4% 10.9% 9.3% CORP 8.5% 7.3% 7.9% 7.9% 7.9% 8.0% 8.6% 8.6% 7.3% 7.4% 7.4% 7.8% Supra 4.4% 3.8% 3.8% 3.8% 3.8% 3.8% 4.1% 4.1% 4.1% 4.2% 4.2% 4.4% CD 6.3% 5.5% 5.5% 5.5% 4.8% 4.5% 4.9% 4.2% 3.9% 4.0% 3.7% 3.9% CP 3.5% 4.6% 4.6% 4.6% 4.6% 4.6% 1.6% 1.6% 0.0% 3.0% 3.0% 3.1% Muni 1.4% 1.2% 1.2% 1.2% 1.2% 1.2% 1.3% 1.3% 1.3% 1.3% 1.3% 1.4% LAIF 6.5% 5.6% 5.6% 5.6% 5.6% 3.2% 0.8% 0.8% 0.8% 0.8% 0.8% 0.9% 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-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
AGY
TSY
MMF
CORP
Supra
CD
CP
Muni
LAIF
9 5.1.b
Packet Pg. 17
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 10
Issuer Allocation
City of San Ramon 12/31/2022
0.4%
0.4%
0.4%
0.4%
0.4%
0.4%
0.4%
0.4%
0.4%
0.4%
0.4%
0.7%
0.9%
1.4%
1.4%
1.4%
1.4%
1.4%
1.4%
1.5%
1.5%
1.7%
2.8%
2.9%
5.6%
7.1%
9.3%
11.4%
12.7%
29.6%
TIAA FSB
EnerBank
Comenity Capital Bank
Morgan Stanley Private Bank
UBS Bank USA
Synchrony Bank
Sallie Mae Bank
Morgan Stanley Bank
Citigroup
First Missouri State Bank
Axos Bank
Home Depot
LAIF
Royal Bank of Canada
Microsoft
New York Life
Johnson & Johnson
National Securities Clearing
State of California
Bank of New York Mellon
IFC
MUFG Bank
TVA
IBRD
FHLMC
FNMA
Fidelity Govt MMF
FFCB
FHLB
U.S. Treasury
0% 5% 10% 15% 20% 25% 30% 35%
10 5.1.b
Packet Pg. 18
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 11
Historical Earnings & Book Return Performance
City of San Ramon 12/31/2022
Fiscal YTD ($K) Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 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 $558.270 $632.320 $713.196 $786.938 $879.582 $966.358 FY 2023 $87.417 $182.231 $276.317 $378.276 $484.915 $591.766 Fiscal YTD Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Book Return 1.34% 1.40% 1.43% 1.47% 1.53% 1.56%
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
Thousands
FY 2021
FY 2022
FY 2023
Fiscal Year-To-Date Book Return
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
1.20%
1.25%
1.30%
1.35%
1.40%
1.45%
1.50%
1.55%
1.60%
11 5.1.b
Packet Pg. 19
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 12
Historical Yield At Cost vs Benchmark
City of San Ramon 12/31/2022
Month-End Yield At Cost vs Benchmark
Jul-09
Dec-09
May-10
Oct-10
Mar-11
Aug-11
Jan-12
Jun-12
Nov-12
Apr-13
Sep-13Feb-14
Jul-14
Dec-14
May-15
Oct-15
Mar-16
Aug-16
Jan-17
Jun-17
Nov-17
Apr-18
Sep-18Feb-19
Jul-19
Dec-19
May-20
Oct-20
Mar-21
Aug-21
Jan-22
Jun-22
Nov-22
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-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
2.0%
Portfolio
Benchmark
Benchmark: Custom Benchmark (see disclosure)
12 5.1.b
Packet Pg. 20
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2023 - 1:31 PM
Amortizing Page 13
Investment Activity
City of San Ramon 12/31/2022
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Positions 64 70 70 70 68 69 65 62 60 58 55 53
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Purchases 0 6 2 0 0 4 0 0 2 2 0 2
Redemptions 1 0 2 0 2 3 4 3 4 3 3 4
Total 1 6 4 0 2 7 4 3 6 5 3 6
Number of Positions at Month End
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 50 55
60 65
70 75
Positions
Purchases and Redemptions* (Excluding MMF/LGIP)
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 2
4 6
8 10
Number of Transactions
Purchases
Redemptions
*Redemptions include maturities, calls, and sells
13 5.1.b
Packet Pg. 21
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Portfolio Summary
City of San Ramon December 31, 2022
Investments Par Value Book Value
% of
Portfolio Maturity YTM
Days to
Market Value
Book
Certificates of Deposit 2,728,000.00 2,658,004.48 2,727,364.47 3.85 400 2.47 Commercial Paper 2,250,000.00 2,179,172.50 2,181,271.69 3.08 225 5.03 Corporate Bonds 5,579,000.00 5,314,929.65 5,550,146.04 7.84 580 2.10 LAIF 610,935.35 610,935.35 610,935.35 0.86 1 2.17
Money Market Funds 6,593,452.83 6,593,452.83 6,593,452.83 9.32 1 4.06 Municipal Securities 1,000,000.00 985,280.00 1,002,934.10 1.42 274 1.84 Supranational Securities 3,095,000.00 2,829,171.90 3,113,404.92 4.40 901 0.46 U.S. Agencies 28,048,000.00 26,597,217.63 28,027,587.87 39.61 604 1.69 U.S. Treasuries 21,000,000.00 19,429,980.00 20,952,012.04 29.61 980 1.17 70,904,388.18 67,198,144.34 70,759,109.32 100.00 641 1.87 Investments
Total Earnings December 31 Month Ending Fiscal Year To Date Current Year 106,850.87 591,765.56
Average Daily Balance 71,685,498.85 75,146,837.34
Book Rate of Return 1.76% 1.56%
Run Date: 1/4/2023 - 1:32 PM
Amortizing
14 5.1.b
Packet Pg. 22
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 2022
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
61747MF63 Morgan Stanley Bank 01/11/2023 248,000.00 01/12/2018 247,417.20 99.95 247,883.44 0.35% NR/NR 0.03
2.650% 2.70% 247,996.49 4.17% 3,132.95 -113.05 NR 0.03
87165E2L0 Synchrony Bank 04/24/2023 248,000.00 04/27/2020 247,635.44 99.04 245,611.76 0.35% NR/NR 0.31
1.100% 1.15% 247,961.94 4.21% 515.70 -2,350.18 NR 0.31
17312QN96 Citibank 06/28/2023 248,000.00 06/29/2018 247,432.08 99.53 246,822.00 0.35% NR/NR 0.49
3.300% 3.35% 247,944.30 4.29% 89.69 -1,122.30 NR 0.49
29278TLY4 EnerBank 09/27/2023 248,000.00 09/30/2019 247,523.84 98.14 243,377.28 0.35% NR/NR 0.74
2.000% 2.05% 247,911.82 4.58% 67.95 -4,534.54 NR 0.73
90348JEV8 UBS Bank USA 10/24/2023 248,000.00 10/25/2018 247,429.60 99.10 245,760.56 0.35% NR/NR 0.81
3.450% 3.50% 247,907.17 4.59% 187.53 -2,146.61 NR 0.79
61760ARS0 Morgan Stanley Private Bank 11/08/2023 248,000.00 11/09/2018 247,434.56 99.07 245,701.04 0.35% NR/NR 0.85
3.550% 3.60% 247,903.33 4.66% 1,302.51 -2,202.29 NR 0.83 20033AP91 Comenity Capital Bank 02/15/2024 248,000.00 02/19/2019 247,427.12 98.32 243,833.60 0.35% NR/NR 1.13
3.100% 3.15% 247,870.77 4.64% 358.07 -4,037.17 NR 1.09
87270LBU6 TIAA FSB 02/22/2024 248,000.00 02/25/2019 247,427.12 98.19 243,511.20 0.35% NR/NR 1.15
3.000% 3.05% 247,868.64 4.64% 2,690.63 -4,357.44 NR 1.11 05465DAK4 Axos Bank 03/26/2024 248,000.00 03/26/2020 248,000.00 96.41 239,106.72 0.35% NR/NR 1.24
1.650% 1.65% 248,000.00 4.65% 67.27 -8,893.28 NR 1.22
32100LCB9 First Missouri State Bank 09/13/2024 248,000.00 09/13/2019 248,000.00 95.53 236,904.48 0.35% NR/NR 1.70
1.850% 1.85% 248,000.00 4.61% 1,382.68 -11,095.52 NR 1.66 795451AK9 Sallie Mae Bank 08/11/2026 248,000.00 08/11/2021 248,000.00 88.51 219,492.40 0.35% NR/NR 3.61
1.100% 1.10% 248,000.00 4.59% 1,068.78 -28,507.60 NR 3.52 2,723,726.96 2,658,004.48 3.85% 1.10
Total Certificates of Deposit 2,728,000.00 2.47% 2,727,364.47 4.51% 10,863.76 -69,359.98 1.07 Commercial Paper
78015DU32 Royal Bank of Canada, NY 07/03/2023 1,000,000.00 10/07/2022 965,627.78 97.45 974,510.00 1.38% P-1/A-1+ 0.50
0.000% 4.76% 976,482.16 5.19% 0.00 -1,972.16 F1+ 0.51
62479MWF6 MUFG Bank, NY 09/15/2023 1,250,000.00 12/20/2022 1,202,831.60 96.37 1,204,662.50 1.70% P-1/A-1 0.71
0.000% 5.25% 1,204,789.53 5.32% 0.00 -127.03 F1 0.71
2,168,459.38 2,179,172.50 3.08% 0.62
Total Commercial Paper 2,250,000.00 5.03% 2,181,271.69 5.26% 0.00 -2,099.19 0.62 Corporate Bonds
Run Date: 1/4/2023 - 1:32 PM
Amortizing
15 5.1.b
Packet Pg. 23
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 2022
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
Corporate Bonds
478160BT0 Johnson & Johnson 03/01/2023 1,000,000.00 03/13/2020 1,024,970.00 99.63 996,320.00 1.42% Aaa/AAA 0.16
2.050% 01/01/2023 1.19% 1,001,402.81 4.18% 6,833.33 -5,082.81 NR 0.15 594918BQ6 Microsoft 08/08/2023 1,000,000.00 05/01/2019 976,240.00 98.42 984,160.00 1.41% Aaa/AAA 0.60
2.000% 06/08/2023 2.59% 996,645.47 4.69% 7,944.44 -12,485.47 AAA 0.57 06406RAL1 Bank of New York Mellon 10/24/2024 1,079,000.00 06/28/2022 1,044,137.51 95.34 1,028,664.65 1.49% A1/A 1.82
2.100% 3.56% 1,051,768.89 4.81% 4,217.09 -23,104.24 AA- 1.73 64952WDL4 New York Life 01/22/2025 1,000,000.00 01/22/2020 996,410.00 94.05 940,540.00 1.41% Aaa/AA+ 2.06
2.000% 2.08% 998,522.12 5.08% 8,833.33 -57,982.12 AAA 1.95 437076CM2 Home Depot 04/15/2025 500,000.00 03/28/2022 499,125.00 95.83 479,155.00 0.71% A2/A 2.29
2.700% 2.76% 499,342.75 4.64% 2,850.00 -20,187.75 A 2.15 637639AE5 National Securities Clearing 12/07/2025 1,000,000.00 01/07/2021 1,004,130.00 88.61 886,090.00 1.42% Aaa/AA+ 2.94
0.750% 11/07/2025 0.66% 1,002,464.00 4.97% 500.00 -116,374.00 NR 2.82 5,545,012.51 5,314,929.65 7.84% 1.59
Total Corporate Bonds 5,579,000.00 2.10% 5,550,146.04 4.74% 31,178.19 -235,216.39 1.51 LAIF
9807828 LAIF 01/01/2023 610,935.35 10/14/2022 610,935.35 1.00 610,935.35 0.86% NR/NR 0.00
2.170% 2.17% 610,935.35 2.17% 0.00 0.00 NR 0.00
610,935.35 610,935.35 0.86% 0.00
Total LAIF 610,935.35 2.17% 610,935.35 2.17% 0.00 0.00 0.00 Money Market Funds
FIGXX Fidelity Govt MMF 01/01/2023 6,593,452.83 6,593,452.83 0.00 6,593,452.83 9.32% Aaa/AAA 0.00
4.060% 4.06% 6,593,452.83 4.06% 21,046.29 0.00 NR 0.00
6,593,452.83 6,593,452.83 9.32% 0.00
Total Money Market Funds 6,593,452.83 4.06% 6,593,452.83 4.06% 21,046.29 0.00 0.00 Municipal Securities
13063DDG0 State of California 10/01/2023 1,000,000.00 11/27/2019 1,015,040.00 98.53 985,280.00 1.42% Aa2/AA- 0.75
2.250% 1.84% 1,002,934.10 4.26% 5,625.00 -17,654.10 AA 0.72 Run Date: 1/4/2023 - 1:32 PM
Amortizing
16 5.1.b
Packet Pg. 24
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 2022
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
1,015,040.00 985,280.00 1.42% 0.75
Total Municipal Securities 1,000,000.00 1.84% 1,002,934.10 4.26% 5,625.00 -17,654.10 0.72 Supranational Securities
45950KCR9 IFC 10/16/2024 1,060,000.00 01/21/2021 1,100,216.40 94.43 1,000,968.60 1.53% Aaa/AAA 1.79
1.375% 0.35% 1,079,315.83 4.64% 3,036.46 -78,347.23 AAA 1.72 459058JL8 IBRD 10/28/2025 2,035,000.00 02/04/2021 2,033,473.75 89.84 1,828,203.30 2.87% Aaa/AAA 2.83
0.500% 0.52% 2,034,089.09 4.36% 1,780.62 -205,885.79 AAA 2.73 3,133,690.15 2,829,171.90 4.40% 2.47
Total Supranational Securities 3,095,000.00 0.46% 3,113,404.92 4.46% 4,817.08 -284,233.02 2.38 U.S. Agencies
3135G0T94 FNMA 01/19/2023 1,000,000.00 01/23/2018 994,220.00 99.92 999,150.00 1.41% Aaa/AA+ 0.05
2.375% 2.50% 999,942.07 3.82% 10,687.50 -792.07 AAA 0.04 313384DL0 FHLB 03/24/2023 2,000,000.00 12/27/2022 1,978,443.34 99.04 1,980,740.00 2.80% P-1/A-1+ 0.23
0.000% 4.51% 1,979,434.44 4.28% 0.00 1,305.56 F1+ 0.23
313384FM6 FHLB 05/12/2023 2,000,000.00 09/16/2022 1,949,094.44 98.42 1,968,300.00 2.79% P-1/A-1+ 0.36
0.000% 3.95% 1,971,743.10 4.45% 0.00 -3,443.10 F1+ 0.36 3134GVQ68 FHLMC 06/16/2023 2,000,000.00 06/16/2020 2,000,000.00 98.13 1,962,660.00 2.83% Aaa/AA+ 0.46
0.375% 06/16/2022 0.38% 2,000,000.00 4.51% 312.50 -37,340.00 AAA 0.44 3136G0X97 FNMA 10/30/2023 2,000,000.00 10/09/2019 2,055,480.00 97.72 1,954,340.00 2.84% Aaa/AA+ 0.83
2.125% 1.42% 2,011,354.22 4.95% 7,201.39 -57,014.22 AAA 0.80 3133EKKU9 FFCB 11/08/2023 1,000,000.00 06/04/2019 1,013,870.00 97.98 979,790.00 1.42% Aaa/AA+ 0.85
2.300% 1.97% 1,002,671.32 4.74% 3,386.11 -22,881.32 AAA 0.82 3133EJWW5 FFCB 12/14/2023 1,005,000.00 12/31/2018 1,013,462.10 98.36 988,487.85 1.42% Aaa/AA+ 0.95
2.950% 2.77% 1,006,631.71 4.73% 1,400.02 -18,143.86 AAA 0.91 3133EKQU3 FFCB 06/13/2024 1,000,000.00 06/20/2019 998,320.00 96.17 961,700.00 1.41% Aaa/AA+ 1.45
1.950% 1.99% 999,510.90 4.71% 975.00 -37,810.90 AAA 1.39 3133EKA63 FFCB 08/16/2024 2,000,000.00 08/16/2019 1,993,680.00 95.47 1,909,400.00 2.82% Aaa/AA+ 1.63
1.600% 1.67% 1,997,946.00 4.52% 12,000.00 -88,546.00 AAA 1.56 3133EKP75 FFCB 09/17/2024 2,000,000.00 09/17/2019 1,997,420.00 95.26 1,905,180.00 2.83% Aaa/AA+ 1.72
1.600% 1.63% 1,999,117.07 4.51% 9,244.44 -93,937.07 AAA 1.64 3133EK4Y9 FFCB 11/01/2024 1,043,000.00 05/07/2020 1,090,612.96 95.05 991,329.78 1.50% Aaa/AA+ 1.84
1.650% 0.62% 1,062,469.98 4.49% 2,868.25 -71,140.20 AAA 1.76 3130AQXY4 FHLB 02/28/2025 2,000,000.00 02/28/2022 2,000,000.00 94.36 1,887,180.00 2.83% Aaa/AA+ 2.16
2.000% 01/28/2023 2.00% 2,000,000.00 4.77% 13,666.67 -112,820.00 AAA 2.05 Run Date: 1/4/2023 - 1:32 PM
Amortizing
17 5.1.b
Packet Pg. 25
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 2022
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
880591EW8 TVA 05/15/2025 2,000,000.00 05/11/2020 2,002,840.00 91.39 1,827,700.00 2.83% Aaa/AA+ 2.37
0.750% 0.72% 2,001,344.43 4.63% 1,916.67 -173,644.43 AAA 2.29 3137EAEX3 FHLMC 09/23/2025 2,000,000.00 10/06/2020 1,991,000.00 89.99 1,799,760.00 2.82% Aaa/AA+ 2.73
0.375% 0.47% 1,995,054.28 4.30% 2,041.67 -195,294.28 AAA 2.64 3135G06G3 FNMA 11/07/2025 2,000,000.00 01/20/2021 2,000,620.00 89.93 1,798,500.00 2.83% Aaa/AA+ 2.85
0.500% 0.49% 2,000,368.34 4.29% 1,500.00 -201,868.34 AAA 2.76 3130AL7M0 FHLB 02/24/2026 2,000,000.00 02/24/2021 2,000,000.00 88.69 1,773,820.00 2.83% Aaa/AA+ 3.15
0.625% 02/24/2023 0.63% 2,000,000.00 4.52% 4,409.72 -226,180.00 AAA 3.03 3130AQW66 FHLB 02/25/2027 1,000,000.00 02/25/2022 1,000,000.00 90.92 909,180.00 1.41% Aaa/AA+ 4.16
2.080% 02/25/2023 2.08% 1,000,000.00 4.50% 7,280.00 -90,820.00 AAA 3.75 28,079,062.84 26,597,217.63 39.61% 1.66
Total U.S. Agencies 28,048,000.00 1.69% 28,027,587.87 4.52% 78,889.94 -1,430,370.23 1.58 U.S. Treasuries
91282CAW1 U.S. Treasury 11/15/2023 1,000,000.00 10/29/2021 993,750.00 96.16 961,560.00 1.41% Aaa/AA+ 0.87
0.250% 0.56% 997,330.99 4.80% 324.59 -35,770.99 AAA 0.84 91282CCC3 U.S. Treasury 05/15/2024 2,000,000.00 08/17/2021 1,993,671.88 94.12 1,882,420.00 2.82% Aaa/AA+ 1.37
0.250% 0.37% 1,996,835.94 4.72% 649.17 -114,415.94 AAA 1.33 912828YM6 U.S. Treasury 10/31/2024 2,000,000.00 04/06/2021 2,067,656.26 94.75 1,894,920.00 2.88% Aaa/AA+ 1.84
1.500% 0.54% 2,034,762.03 4.52% 5,138.12 -139,842.03 AAA 1.76 912828G38 U.S. Treasury 11/15/2024 2,000,000.00 07/23/2021 2,118,750.00 96.04 1,920,860.00 2.92% Aaa/AA+ 1.88
2.250% 0.44% 2,067,170.73 4.47% 5,842.54 -146,310.73 AAA 1.79 912828ZF0 U.S. Treasury 03/31/2025 2,000,000.00 07/23/2021 1,998,359.38 91.84 1,836,880.00 2.83% Aaa/AA+ 2.25
0.500% 0.52% 1,999,000.03 4.35% 2,554.95 -162,120.03 AAA 2.18 91282CAT8 U.S. Treasury 10/31/2025 2,000,000.00 04/06/2021 1,946,875.00 89.42 1,788,360.00 2.78% Aaa/AA+ 2.84
0.250% 0.84% 1,967,055.50 4.26% 856.35 -178,695.50 AAA 2.75 912828M56 U.S. Treasury 11/15/2025 2,000,000.00 02/07/2022 2,041,015.62 94.65 1,892,960.00 2.87% Aaa/AA+ 2.88
2.250% 1.69% 2,031,275.53 4.25% 5,842.54 -138,315.53 AAA 2.72 912828R36 U.S. Treasury 05/15/2026 2,000,000.00 06/07/2022 1,897,500.00 92.04 1,840,700.00 2.70% Aaa/AA+ 3.37
1.625% 3.01% 1,912,254.87 4.18% 4,219.61 -71,554.87 AAA 3.20 91282CCW9 U.S. Treasury 08/31/2026 1,000,000.00 08/31/2021 997,798.42 88.54 885,430.00 1.41% Aaa/AA+ 3.67
0.750% 0.80% 998,385.59 4.15% 2,548.34 -112,955.59 AAA 3.52 91282CCZ2 U.S. Treasury 09/30/2026 1,000,000.00 10/13/2021 990,351.56 88.79 887,930.00 1.40% Aaa/AA+ 3.75
0.875% 1.08% 992,714.44 4.13% 2,235.58 -104,784.44 AAA 3.59 91282CDG3 U.S. Treasury 10/31/2026 2,000,000.00 02/07/2022 1,941,093.76 89.44 1,788,820.00 2.76% Aaa/AA+ 3.84
1.125% 1.78% 1,952,247.39 4.13% 3,853.59 -163,427.39 AAA 3.65 Run Date: 1/4/2023 - 1:32 PM
Amortizing
18 5.1.b
Packet Pg. 26
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 2022
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. Treasuries
912828U24 U.S. Treasury 11/15/2026 2,000,000.00 03/14/2022 2,003,593.76 92.46 1,849,140.00 2.83% Aaa/AA+ 3.88
2.000% 1.96% 2,002,979.00 4.13% 5,193.37 -153,839.00 AAA 3.63 20,990,415.64 19,429,980.00 29.61% 2.68
Total U.S. Treasuries 21,000,000.00 1.17% 20,952,012.04 4.34% 39,258.75 -1,522,032.04 2.56 70,859,795.66 67,198,144.34 100.00% 1.76
TOTAL PORTFOLIO 70,904,388.18 1.87% 70,759,109.32 4.44% 191,679.01 -3,560,964.95 1.68 TOTAL MARKET VALUE PLUS ACCRUED INTEREST 67,389,823.35
Run Date: 1/4/2023 - 1:32 PM
Amortizing
19 5.1.b
Packet Pg. 27
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Maturity Report
City of San Ramon December 31, 2022
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
Issuer YTM
Days to
Maturity
Book
FIGXX Fidelity Govt MMF 6,593,452.83 4.060% 01/01/2023 6,593,452.83 1 6,593,452.83 4.06% 1 9807828 LAIF 06/16/2021 610,935.35 2.170% 01/01/2023 610,935.35 1 610,935.35 2.17% 1 61747MF63 Morgan Stanley Bank 01/12/2018 247,996.49 2.650% 01/11/2023 248,000.00 1,814 247,883.44 2.70% 11 3135G0T94 FNMA 01/23/2018 999,942.07 2.375% 01/19/2023 1,000,000.00 1,803 999,150.00 2.50% 19 478160BT0 Johnson & Johnson 03/13/2020 1,001,402.81 2.050% 03/01/2023 1,000,000.00 1,023 996,320.00 1.19% 60 313384DL0 FHLB 12/27/2022 1,979,434.44 0.000% 03/24/2023 2,000,000.00 4 1,980,740.00 4.51% 83 87165E2L0 Synchrony Bank 04/27/2020 247,961.94 1.100% 04/24/2023 248,000.00 978 245,611.76 1.15% 114 313384FM6 FHLB 09/16/2022 1,971,743.10 0.000% 05/12/2023 2,000,000.00 106 1,968,300.00 3.95% 132 3134GVQ68 FHLMC 06/16/2020 2,000,000.00 0.375% 06/16/2023 2,000,000.00 928 1,962,660.00 0.38% 167 17312QN96 Citibank 06/29/2018 247,944.30 3.300% 06/28/2023 248,000.00 1,646 246,822.00 3.35% 179 78015DU32 Royal Bank of Canada, NY 10/07/2022 976,482.16 0.000% 07/03/2023 1,000,000.00 85 974,510.00 4.76% 184 594918BQ6 Microsoft 05/01/2019 996,645.47 2.000% 08/08/2023 1,000,000.00 1,340 984,160.00 2.59% 220 62479MWF6 MUFG Bank, NY 12/20/2022 1,204,789.53 0.000% 09/15/2023 1,250,000.00 11 1,204,662.50 5.25% 258 29278TLY4 EnerBank 09/30/2019 247,911.82 2.000% 09/27/2023 248,000.00 1,188 243,377.28 2.05% 270 13063DDG0 State of California 11/27/2019 1,002,934.10 2.250% 10/01/2023 1,000,000.00 1,130 985,280.00 1.84% 274 90348JEV8 UBS Bank USA 10/25/2018 247,907.17 3.450% 10/24/2023 248,000.00 1,528 245,760.56 3.50% 297 3136G0X97 FNMA 10/09/2019 2,011,354.22 2.125% 10/30/2023 2,000,000.00 1,179 1,954,340.00 1.42% 303 61760ARS0 Morgan Stanley Private Bank 11/09/2018 247,903.33 3.550% 11/08/2023 248,000.00 1,513 245,701.04 3.60% 312 3133EKKU9 FFCB 06/04/2019 1,002,671.32 2.300% 11/08/2023 1,000,000.00 1,306 979,790.00 1.97% 312 91282CAW1 U.S. Treasury 10/29/2021 997,330.99 0.250% 11/15/2023 1,000,000.00 428 961,560.00 0.56% 319 3133EJWW5 FFCB 12/31/2018 1,006,631.71 2.950% 12/14/2023 1,005,000.00 1,461 988,487.85 2.77% 348 20033AP91 Comenity Capital Bank 02/19/2019 247,870.77 3.100% 02/15/2024 248,000.00 1,411 243,833.60 3.15% 411 87270LBU6 TIAA FSB 02/25/2019 247,868.64 3.000% 02/22/2024 248,000.00 1,405 243,511.20 3.05% 418 05465DAK4 Axos Bank 03/26/2020 248,000.00 1.650% 03/26/2024 248,000.00 1,010 239,106.72 1.65% 451 91282CCC3 U.S. Treasury 08/17/2021 1,996,835.94 0.250% 05/15/2024 2,000,000.00 501 1,882,420.00 0.37% 501 3133EKQU3 FFCB 06/20/2019 999,510.90 1.950% 06/13/2024 1,000,000.00 1,290 961,700.00 1.99% 530 3133EKA63 FFCB 08/16/2019 1,997,946.00 1.600% 08/16/2024 2,000,000.00 1,233 1,909,400.00 1.67% 594 32100LCB9 First Missouri State Bank 09/13/2019 248,000.00 1.850% 09/13/2024 248,000.00 1,205 236,904.48 1.85% 622 3133EKP75 FFCB 09/17/2019 1,999,117.07 1.600% 09/17/2024 2,000,000.00 1,201 1,905,180.00 1.63% 626 45950KCR9 IFC 01/21/2021 1,079,315.83 1.375% 10/16/2024 1,060,000.00 709 1,000,968.60 0.35% 655 06406RAL1 Bank of New York Mellon 06/28/2022 1,051,768.89 2.100% 10/24/2024 1,079,000.00 186 1,028,664.65 3.56% 663 912828YM6 U.S. Treasury 04/06/2021 2,034,762.03 1.500% 10/31/2024 2,000,000.00 634 1,894,920.00 0.54% 670 3133EK4Y9 FFCB 05/07/2020 1,062,469.98 1.650% 11/01/2024 1,043,000.00 968 991,329.78 0.62% 671 912828G38 U.S. Treasury 07/23/2021 2,067,170.73 2.250% 11/15/2024 2,000,000.00 526 1,920,860.00 0.44% 685 64952WDL4 New York Life 01/22/2020 998,522.12 2.000% 01/22/2025 1,000,000.00 1,074 940,540.00 2.08% 753 3130AQXY4 FHLB 02/28/2022 2,000,000.00 2.000% 02/28/2025 2,000,000.00 306 1,887,180.00 2.00% 790 Run Date: 1/4/2023 - 1:32 PM
Amortizing
20 5.1.b
Packet Pg. 28
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Maturity Report
City of San Ramon December 31, 2022
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
Issuer YTM
Days to
Maturity
Book
912828ZF0 U.S. Treasury 07/23/2021 1,999,000.03 0.500% 03/31/2025 2,000,000.00 526 1,836,880.00 0.52% 821 437076CM2 Home Depot 03/28/2022 499,342.75 2.700% 04/15/2025 500,000.00 278 479,155.00 2.76% 836 880591EW8 TVA 05/11/2020 2,001,344.43 0.750% 05/15/2025 2,000,000.00 964 1,827,700.00 0.72% 866 3137EAEX3 FHLMC 10/06/2020 1,995,054.28 0.375% 09/23/2025 2,000,000.00 816 1,799,760.00 0.47% 997 459058JL8 IBRD 02/04/2021 2,034,089.09 0.500% 10/28/2025 2,035,000.00 695 1,828,203.30 0.52% 1,032 91282CAT8 U.S. Treasury 04/06/2021 1,967,055.50 0.250% 10/31/2025 2,000,000.00 634 1,788,360.00 0.84% 1,035 3135G06G3 FNMA 01/20/2021 2,000,368.34 0.500% 11/07/2025 2,000,000.00 710 1,798,500.00 0.49% 1,042 912828M56 U.S. Treasury 02/07/2022 2,031,275.53 2.250% 11/15/2025 2,000,000.00 327 1,892,960.00 1.69% 1,050 637639AE5 National Securities Clearing 01/07/2021 1,002,464.00 0.750% 12/07/2025 1,000,000.00 723 886,090.00 0.66% 1,072 3130AL7M0 FHLB 02/24/2021 2,000,000.00 0.625% 02/24/2026 2,000,000.00 675 1,773,820.00 0.63% 1,151 912828R36 U.S. Treasury 06/07/2022 1,912,254.87 1.625% 05/15/2026 2,000,000.00 207 1,840,700.00 3.01% 1,231 795451AK9 Sallie Mae Bank 08/11/2021 248,000.00 1.100% 08/11/2026 248,000.00 507 219,492.40 1.10% 1,319 91282CCW9 U.S. Treasury 08/31/2021 998,385.59 0.750% 08/31/2026 1,000,000.00 487 885,430.00 0.80% 1,339 91282CCZ2 U.S. Treasury 10/13/2021 992,714.44 0.875% 09/30/2026 1,000,000.00 444 887,930.00 1.08% 1,369 91282CDG3 U.S. Treasury 02/07/2022 1,952,247.39 1.125% 10/31/2026 2,000,000.00 327 1,788,820.00 1.78% 1,400 912828U24 U.S. Treasury 03/14/2022 2,002,979.00 2.000% 11/15/2026 2,000,000.00 292 1,849,140.00 1.96% 1,415 3130AQW66 FHLB 02/25/2022 1,000,000.00 2.080% 02/25/2027 1,000,000.00 309 909,180.00 2.08% 1,517 Net Maturities and Averages 70,759,109.32 70,904,388.18 67,198,144.34 1.87% 641 Run Date: 1/4/2023 - 1:32 PM
Amortizing
21 5.1.b
Packet Pg. 29
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Summary by Issuer
City of San Ramon December 31, 2022
Issuer Investments
Number of Par
Value
Book
Value
% of
Portfolio YTM Maturity
Book Days to
U.S. Treasury 12 21,000,000.00 20,952,012.04 29.61 1.17 980 FHLB 5 9,000,000.00 8,951,177.55 12.65 2.69 651
FFCB 6 8,048,000.00 8,068,346.98 11.40 1.73 538
Fidelity Govt MMF 1 6,593,452.83 6,593,452.83 9.32 4.06 1 FNMA 3 5,000,000.00 5,011,664.63 7.08 1.27 541
FHLMC 2 4,000,000.00 3,995,054.28 5.65 0.42 581
IBRD 1 2,035,000.00 2,034,089.09 2.87 0.52 1,032
TVA 1 2,000,000.00 2,001,344.43 2.83 0.72 866
MUFG Bank 1 1,250,000.00 1,204,789.53 1.70 5.25 258
IFC 1 1,060,000.00 1,079,315.83 1.53 0.35 655
Bank of New York Mellon 1 1,079,000.00 1,051,768.89 1.49 3.56 663 State of California 1 1,000,000.00 1,002,934.10 1.42 1.84 274 National Securities Clearing 1 1,000,000.00 1,002,464.00 1.42 0.66 1,072 Johnson & Johnson 1 1,000,000.00 1,001,402.81 1.42 1.19 60 New York Life 1 1,000,000.00 998,522.12 1.41 2.08 753
Microsoft 1 1,000,000.00 996,645.47 1.41 2.59 220
Royal Bank of Canada 1 1,000,000.00 976,482.16 1.38 4.76 184 LAIF 1 610,935.35 610,935.35 0.86 2.17 1
Home Depot 1 500,000.00 499,342.75 0.71 2.76 836
First Missouri State Bank 1 248,000.00 248,000.00 0.35 1.85 622 Citigroup 1 248,000.00 247,944.30 0.35 3.35 179
Axos Bank 1 248,000.00 248,000.00 0.35 1.65 451
Sallie Mae Bank 1 248,000.00 248,000.00 0.35 1.10 1,319 Morgan Stanley Bank 1 248,000.00 247,996.49 0.35 2.70 11 Synchrony Bank 1 248,000.00 247,961.94 0.35 1.15 114
Morgan Stanley Private Bank 1 248,000.00 247,903.33 0.35 3.60 312 UBS Bank USA 1 248,000.00 247,907.17 0.35 3.50 297
Comenity Capital Bank 1 248,000.00 247,870.77 0.35 3.15 411 EnerBank 1 248,000.00 247,911.82 0.35 2.05 270
TIAA FSB 1 248,000.00 247,868.64 0.35 3.05 418
Total and Average 53 70,904,388.18 70,759,109.32 100.00% 1.87 641 Run Date: 1/4/2023 - 1:32 PM
Amortizing
22 5.1.b
Packet Pg. 30
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned Summary
City of San Ramon December 31, 2022
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
85,073.80 579,008.89
191,679.01 191,679.01
-185,303.74 -229,291.96
91,449.07 541,395.94
15,401.80 50,382.48
0.00 -12.86
106,850.87 591,765.56
Run Date: 1/4/2023 - 1:32 PM
Amortizing
23 5.1.b
Packet Pg. 31
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned
City of San Ramon December 01, 2022 - December 31, 2022 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
61747MF63 Morgan Stanley Bank 01/11/2023 248,000.00 247,986.59 247,996.49 2,574.78 0.00 3,132.95 558.17 9.90 568.07 87165E2L0 Synchrony Bank 04/24/2023 248,000.00 247,951.59 247,961.94 284.01 0.00 515.70 231.69 10.35 242.04 17312QN96 Citibank 06/28/2023 248,000.00 247,934.65 247,944.30 3,497.82 4,103.21 89.69 695.08 9.65 704.73 29278TLY4 EnerBank 09/27/2023 248,000.00 247,901.70 247,911.82 54.36 407.67 67.95 421.26 10.12 431.38 90348JEV8 UBS Bank USA 10/24/2023 248,000.00 247,897.48 247,907.17 164.09 703.23 187.53 726.67 9.69 736.36 61760ARS0 Morgan Stanley Private Bank 11/08/2023 248,000.00 247,893.73 247,903.33 554.77 0.00 1,302.51 747.74 9.60 757.34 20033AP91 Comenity Capital Bank 02/15/2024 248,000.00 247,861.02 247,870.77 337.01 631.89 358.07 652.95 9.75 662.70 87270LBU6 TIAA FSB 02/22/2024 248,000.00 247,858.90 247,868.64 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 2,728,000.00 2,727,285.67 2,727,364.47 11,411.73 6,182.33 10,863.76 5,634.36 78.80 5,713.16 Commercial Paper
38150UMK4 Goldman Sachs 12/19/2022 0.00 1,247,518.44 0.00 0.00 0.00 0.00 0.00 2,481.56 2,481.56 78015DU32 Royal Bank of Canada, NY 07/03/2023 1,000,000.00 972,476.38 976,482.16 0.00 0.00 0.00 0.00 4,005.79 4,005.79 62479MWF6 MUFG Bank, NY 09/15/2023 1,250,000.00 0.00 1,204,789.53 0.00 0.00 0.00 0.00 1,957.93 1,957.93 Commercial Paper - Sub Total 2,250,000.00 2,219,994.81 2,181,271.69 0.00 0.00 0.00 0.00 8,445.28 8,445.28 Corporate Bonds
478160BT0 Johnson & Johnson 03/01/2023 1,000,000.00 1,002,127.59 1,001,402.81 5,125.00 0.00 6,833.33 1,708.33 -724.78 983.55 594918BQ6 Microsoft 08/08/2023 1,000,000.00 996,166.25 996,645.47 6,277.78 0.00 7,944.44 1,666.66 479.22 2,145.88 06406RAL1 Bank of New York Mellon 10/24/2024 1,079,000.00 1,050,476.14 1,051,768.89 2,328.84 0.00 4,217.09 1,888.25 1,292.75 3,181.00 64952WDL4 New York Life 01/22/2025 1,000,000.00 998,460.29 998,522.12 7,166.67 0.00 8,833.33 1,666.66 61.83 1,728.49 437076CM2 Home Depot 04/15/2025 500,000.00 499,318.03 499,342.75 1,725.00 0.00 2,850.00 1,125.00 24.73 1,149.73 637639AE5 National Securities Clearing 12/07/2025 1,000,000.00 1,002,536.33 1,002,464.00 3,625.00 3,750.00 500.00 625.00 -72.33 552.67 Corporate Bonds - Sub Total 5,579,000.00 5,549,084.63 5,550,146.04 26,248.29 3,750.00 31,178.19 8,679.90 1,061.40 9,741.30 LAIF
9807828 LAIF 01/01/2023 610,935.35 610,935.35 610,935.35 0.00 0.00 0.00 0.00 0.00 0.00 LAIF - Sub Total 610,935.35 610,935.35 610,935.35 0.00 0.00 0.00 0.00 0.00 0.00 Money Market Funds
Run Date: 1/4/2023 - 1:32 PM
Amortizing
24 5.1.b
Packet Pg. 32
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned
City of San Ramon December 01, 2022 - December 31, 2022 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
Money Market Funds
FIGXX Fidelity Govt MMF 01/01/2023 6,593,452.83 8,164,653.96 6,593,452.83 20,611.47 20,611.47 21,046.29 21,046.29 0.00 21,046.29 Money Market Funds - Sub Total 6,593,452.83 8,164,653.96 6,593,452.83 20,611.47 20,611.47 21,046.29 21,046.29 0.00 21,046.29 Municipal Securities
13063DDG0 State of California 10/01/2023 1,000,000.00 1,003,270.98 1,002,934.10 3,750.00 0.00 5,625.00 1,875.00 -336.88 1,538.12 Municipal Securities - Sub Total 1,000,000.00 1,003,270.98 1,002,934.10 3,750.00 0.00 5,625.00 1,875.00 -336.88 1,538.12 Supranational Securities
45950KCR9 IFC 10/16/2024 1,060,000.00 1,080,212.85 1,079,315.83 1,821.88 0.00 3,036.46 1,214.58 -897.02 317.56 459058JL8 IBRD 10/28/2025 2,035,000.00 2,034,061.32 2,034,089.09 932.71 0.00 1,780.62 847.91 27.77 875.68 Supranational Securities - Sub Total 3,095,000.00 3,114,274.17 3,113,404.92 2,754.59 0.00 4,817.08 2,062.49 -869.25 1,193.24 U.S. Agencies
3130A3KM5 FHLB 12/09/2022 0.00 1,000,040.64 0.00 11,944.44 12,500.00 0.00 555.56 -40.64 514.92 313385T97 FHLB 12/21/2022 0.00 1,995,988.26 0.00 0.00 0.00 0.00 0.00 4,011.74 4,011.74 3133EFUJ4 FFCB 12/29/2022 0.00 1,276,813.24 0.00 11,574.17 13,706.25 0.00 2,132.08 -1,813.24 318.84 3135G0T94 FNMA 01/19/2023 1,000,000.00 999,842.31 999,942.07 8,708.33 0.00 10,687.50 1,979.17 99.77 2,078.94 313384DL0 FHLB 03/24/2023 2,000,000.00 0.00 1,979,434.44 0.00 0.00 0.00 0.00 991.11 991.11 313384FM6 FHLB 05/12/2023 2,000,000.00 1,965,056.36 1,971,743.10 0.00 0.00 0.00 0.00 6,686.75 6,686.75 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 3136G0X97 FNMA 10/30/2023 2,000,000.00 2,012,531.42 2,011,354.22 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 1,002,941.07 1,002,671.32 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 1,006,774.01 1,006,631.71 13,753.15 14,823.75 1,400.02 2,470.62 -142.30 2,328.32 3133EKQU3 FFCB 06/13/2024 1,000,000.00 999,481.85 999,510.90 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 1,997,837.16 1,997,946.00 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 1,999,072.63 1,999,117.07 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 1,063,384.48 1,062,469.98 1,434.12 0.00 2,868.25 1,434.13 -914.50 519.63 3130AQXY4 FHLB 02/28/2025 2,000,000.00 2,000,000.00 2,000,000.00 10,333.33 0.00 13,666.67 3,333.34 0.00 3,333.34 880591EW8 TVA 05/15/2025 2,000,000.00 2,001,393.24 2,001,344.43 666.67 0.00 1,916.67 1,250.00 -48.80 1,201.20 3137EAEX3 FHLMC 09/23/2025 2,000,000.00 1,994,898.15 1,995,054.28 1,416.67 0.00 2,041.67 625.00 156.13 781.13 3135G06G3 FNMA 11/07/2025 2,000,000.00 2,000,379.47 2,000,368.34 666.67 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 3130AQW66 FHLB 02/25/2027 1,000,000.00 1,000,000.00 1,000,000.00 5,546.67 0.00 7,280.00 1,733.33 0.00 1,733.33 Run Date: 1/4/2023 - 1:32 PM
Amortizing
25 5.1.b
Packet Pg. 33
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned
City of San Ramon December 01, 2022 - December 31, 2022 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 - Sub Total 28,048,000.00 30,316,434.27 28,027,587.87 102,990.05 54,530.00 78,889.94 30,429.89 7,710.27 38,140.16 U.S. Treasuries
91282CAW1 U.S. Treasury 11/15/2023 1,000,000.00 997,071.62 997,330.99 110.50 0.00 324.59 214.09 259.37 473.46 91282CCC3 U.S. Treasury 05/15/2024 2,000,000.00 1,996,640.16 1,996,835.94 220.99 0.00 649.17 428.18 195.78 623.96 912828YM6 U.S. Treasury 10/31/2024 2,000,000.00 2,036,370.42 2,034,762.03 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 2,070,210.57 2,067,170.73 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 1,998,962.27 1,999,000.03 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 1,966,068.75 1,967,055.50 428.18 0.00 856.35 428.17 986.74 1,414.91 912828M56 U.S. Treasury 11/15/2025 2,000,000.00 2,032,198.90 2,031,275.53 1,988.95 0.00 5,842.54 3,853.59 -923.37 2,930.22 912828R36 U.S. Treasury 05/15/2026 2,000,000.00 1,910,045.20 1,912,254.87 1,436.46 0.00 4,219.61 2,783.15 2,209.67 4,992.82 91282CCW9 U.S. Treasury 08/31/2026 1,000,000.00 998,348.21 998,385.59 1,906.08 0.00 2,548.34 642.26 37.38 679.64 91282CCZ2 U.S. Treasury 09/30/2026 1,000,000.00 992,549.47 992,714.44 1,490.38 0.00 2,235.58 745.20 164.98 910.18 91282CDG3 U.S. Treasury 10/31/2026 2,000,000.00 1,951,190.02 1,952,247.39 1,926.80 0.00 3,853.59 1,926.79 1,057.38 2,984.17 912828U24 U.S. Treasury 11/15/2026 2,000,000.00 2,003,044.27 2,002,979.00 1,767.96 0.00 5,193.37 3,425.41 -65.26 3,360.15 U.S. Treasuries - Sub Total 21,000,000.00 20,952,699.86 20,952,012.04 17,537.61 0.00 39,258.75 21,721.14 -687.82 21,033.32 Grand Total 70,904,388.18 74,658,633.72 70,759,109.32 185,303.74 85,073.80 191,679.01 91,449.07 15,401.80 106,850.87 Run Date: 1/4/2023 - 1:32 PM
Amortizing
26 5.1.b
Packet Pg. 34
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Realized Gains and Losses
City of San Ramon December 01, 2022 - December 31, 2022 CUSIP Par Value Sale Date Days Held Maturity/Sales Realized Issuer Purchase Date Coupon Rate Maturity Date Term Book Value Proceeds Gain/Loss Commercial Paper
38150UMK4 10/07/2022 1,250,000.00 12/19/2022 73 1,250,000.00 1,250,000.00 0.00 Goldman Sachs 0.000% 12/19/2022 73
Total Commercial Paper 1,250,000.00 1,250,000.00 0.00
U.S. Agencies
3133EFUJ4 05/01/2020 1,275,000.00 12/29/2022 972 1,275,000.00 1,275,000.00 0.00 FFCB 2.150% 12/29/2022 972
313385T97 09/23/2022 2,000,000.00 12/21/2022 89 2,000,000.00 2,000,000.00 0.00 FHLB 0.000% 12/21/2022 89
3130A3KM5 12/22/2017 1,000,000.00 12/09/2022 1,813 1,000,000.00 1,000,000.00 0.00 FHLB 2.500% 12/09/2022 1,813
Total U.S. Agencies 4,275,000.00 4,275,000.00 0.00
Grand Total 5,525,000.00 5,525,000.00 0.00
Run Date: 1/4/2023 - 1:32 PM
Amortizing
27 5.1.b
Packet Pg. 35
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Transaction Report
City of San Ramon December 01, 2022 - December 31, 2022 Transaction Transaction Security Security Maturity
Date Type ID Description Date Purchases Redemptions Interest Deposits Withdrawals 12/01/2022 Withdrawal FIGXX FIGXX - - - - -2,000,000.00 12/02/2022 Interest FIGXX Fidelity Govt MMF - - 20,611.47 - - 12/07/2022 Interest 637639AE5 NSCCLF 0 3/4 12/07/25 12/07/2025 - - 3,750.00 - - 12/09/2022 Interest 3130A3KM5 FHLB 2 1/2 12/09/22 12/09/2022 - - 12,500.00 - - 12/09/2022 Maturity 3130A3KM5 FHLB 2 1/2 12/09/22 12/09/2022 - 1,000,000.00 - - - 12/13/2022 Interest 3133EKQU3 FFCB 1.95 06/13/24 06/13/2024 - - 9,750.00 - - 12/14/2022 Interest 3133EJWW5 FFCB 2.95 12/14/23 12/14/2023 - - 14,823.75 - - 12/15/2022 Interest 20033AP91 ADS 3.1 02/15/24 02/15/2024 - - 631.89 - - 12/16/2022 Withdrawal FIGXX FIGXX - - - - -2,000,000.00 12/16/2022 Interest 3134GVQ68 FHLMC 0 3/8 06/16/23 06/16/2023 - - 3,750.00 - - 12/19/2022 Maturity 38150UMK4 GS INTERNATIONAL 12/19/2022 - 1,250,000.00 - - - 12/20/2022 Purchase 62479MWF6 MUFG BANK LTD/NY 09/15/2023 -1,202,831.60 - - - - 12/21/2022 Maturity 313385T97 FHLB DISCOUNT NT 12/21/2022 - 2,000,000.00 - - - 12/27/2022 Purchase 313384DL0 FHLB DISCOUNT NT 03/24/2023 -1,978,443.33 - - - - 12/27/2022 Interest 29278TLY4 CMS 2 09/27/23 09/27/2023 - - 407.67 - - 12/27/2022 Interest 90348JEV8 UBS 3.45 10/24/23 10/24/2023 - - 703.23 - - 12/27/2022 Interest 05465DAK4 BOFI 1.65 03/26/24 03/26/2024 - - 336.33 - - 12/28/2022 Interest 17312QN96 C 3.3 06/28/23 06/28/2023 - - 4,103.21 - - 12/29/2022 Interest 3133EFUJ4 FFCB 2.15 12/29/22 12/29/2022 - - 13,706.25 - - 12/29/2022 Maturity 3133EFUJ4 FFCB 2.15 12/29/22 12/29/2022 - 1,275,000.00 - - - Grand Total: -3,181,274.93 5,525,000.00 85,073.80 0.00 -4,000,000.00 Run Date: 1/4/2023 - 1:32 PM
Amortizing
28 5.1.b
Packet Pg. 36
Attachment: B: 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: 1/4/2023 - 1:32 PM
Amortizing
29 5.1.b
Packet Pg. 37
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December City of San Ramon
Investment Report - Supplementary InformationInvestments Held by Trustees at December 31, 2022 Maturity
Description CUSIP Rate Date Cost Market Issue
AMBAC Assurance 1.00 1.00 06(A) TA
Wells Fargo Money Market 0.74 0.74 2010 POB
Wells Fargo Money Market 3,051,317.41 3,051,316.41 2010 POB Wells Fargo Money Market 133.34 133.34 2010 POB
Wells Fargo Money Market 16,953.91 16,953.91 2010 POB
Wells Fargo Money Market 2.86 2.86 2010 POB
Dreyfus Govt Cash Mgmt X9USDYRUT 4.09% n/a 320,082.64 320,082.64 2019 COP Dreyfus Govt Cash Mgmt X9USDYRUT 0.00% n/a 0.04 0.04 2019 COP $ 3,388,490.94 3,388,491.94 $
5.1.c
Packet Pg. 38
Attachment: C: Investments Held by Trustees at December 31, 2022 (3860 : Quarterly Investment Report)
INVESTMENT TERMINOLOGY
Basis Points – A standard measure for interest rates that represents one one-hundredth of one percent.
Book Value – The price paid for the financial instrument as recorded on the balance sheet. Book value never changes as long as the instrument is owned.
Fair Value – Also known as market value, fair value is the price that buyers and sellers of a financial instrument would agree upon if the instrument was sold in the market today.
Par Value – Value of the instrument at the time of issuance, also known as face value (when financial instruments were printed on paper, it was the value printed on the face of the paper document).
Weighted Average Days to Maturity – The average length of time until all the investments in the portfolio will mature.
Weighted Average Yield to Maturity – The average return anticipated on the investment instruments as a whole if all are held to maturity.
5.1.d
Packet Pg. 39
Attachment: D: Investment Terminology (3860 : Quarterly Investment Report)
FINANCE COMMITTEE STAFF REPORT
DATE: February 6, 2023
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, 2022
RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the CERBT Statement for the period ending December 31, 2022.
BACKGROUND/DISCUSSION
On November 14, 2014, the City Council approved participation in CERBT for purposes of prefunding the City’s long-term obligation for health benefits accrued to retired City employees.
Assets in this Trust can only be used for payment of these benefits and may not be used for other governmental purposes.
At the start of October 2022, the CERBT had a balance of $31,988,333. During this quarter, the investment balance increased by $1,753,131, and with expenses of $7,135 left an ending balance of $33,734,329 at December 31, 2022. As of the most recent actuarial valuation, which has a measurement date of June 30, 2021, the OPEB liability measured $34,882,923 and was more than 100% funded. With the current ending balance, the funding status of the OPEB liability is approximately 97%.
FISCAL ANALYSIS
This item is for informational purposes only-there is no fiscal impact.
STEPS FOLLOWING APPROVAL
None.
ATTACHMENT
California Employer's Retirement Benefit Trust for the Period Ending December 31, 2022
5.2 Packet Pg. 40
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
$33,734,328.51 $33,734,328.51
Period Ending Unit Value 18.495894 18.495894
Period Beginning Unit Value 17.538597 18.931851
0.000
0.000
1,823,882.031
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 $33,734,328.51 $33,734,328.51
0.00 (8,459.27)
0.00 (780,490.40)
0.00 $34,529,463.24
0.00 (4,121.78)
0.00 1,753,130.99
0.00 $31,988,332.99
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 0.00
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 (3,013.69) (6,185.06)
CERBT Strategy 2
Entity #: SKB7-4889155551-001
Quarter Ended December 31, 2022
FY End Disbursement Accrual 0.00 0.00
5.2.a
Packet Pg. 41
Attachment: California Employer's Retirement Benefit Trust for the Period Ending December 31, 2022 Statement of Transaction Detail for the Quarter Ending 12/31/2022 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:
5.2.a
Packet Pg. 42
Attachment: California Employer's Retirement Benefit Trust for the Period Ending December 31, 2022
FINANCE COMMITTEE STAFF REPORT
DATE: February 6, 2023
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, 2022
RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the PARS Pension Stabilization Trust Statement for the period ending December 31, 2022.
BACKGROUND/DISCUSSION
Participation in the PARS Pension Stabilization Trust (PARS Trust) was approved by City Council on November 28, 2017 by Resolution No. 2017-128. The purpose of the PARS Trust was to pre-fund 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 2022, the PARS Trust had a balance of $3,786,975. During this quarter, there were investment gains of $141,586, expenses of $4,634, and a withdrawal of $1,477,274, to fund pension obligations from July through December as approved in the FY 2022/23 adopted budget, which left an ending balance of $2,446,653 at December 31, 2022.
FISCAL ANALYSIS
5.3 Packet Pg. 43
This item is for informational purposes only--no fiscal impact.
STEPS FOLLOWING APPROVAL
None
ATTACHMENT
PARS Pension Stabilization Trust for the Period Ending December 30, 2022
5.3 Packet Pg. 44
CITY OF SAN RAMON
PARS Post-Employment Benefits Trust 12/1/2022 to 12/31/2022 Joseph Gorton
City Manager
City of San Ramon
7000 Bollinger Canyon Rd.
San Ramon, CA 94583
Account Summary
Source 12/1/2022 Contributions Earnings Expenses Distributions Transfers 12/31/2022 PENSION 1002 $2,516,230.98 $0.00 -$67,346.75 $2,231.09 $0.00 $0.00 $2,446,653.14 Totals $2,516,230.98 $0.00 -$67,346.75 $2,231.09 $0.00 $0.00 $2,446,653.14 Investment Selection
Source
PENSION
Investment Objective
Source
PENSION
Investment Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years PENSION -2.68% 4.59% -14.64% 0.45% - - 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 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
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
5.3.a
Packet Pg. 45
Attachment: PARS Pension Stabilization Trust for the Period Ending December 30, 2022 (3868 : PARS Statement)