City Council Finance Committee
July 17, 2023

City of San Ramon

FINANCE COMMITTEE
AGENDA
Mark Armstrong, Chair • Scott Perkins, Vice Chair
City Hall - Training Room, First Floor
7000 Bollinger Canyon Road
Special Meeting
1:30 PM
July 17, 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 - June 12, 2023

4. UNFINISHED BUSINESS

5. NEW BUSINESS

5.1 City of San Ramon Quarterly Investment Report (Period Ending June 30, 2023) Staff Report by Candace Daniels, Finance Division Manager

6. COMMITTEE MEMBER COMMENTS

7. ADJOURNMENT
The next Finance Committee Meeting is scheduled for August 7, 2023. 2 Finance Committee Meeting – July 17, 2023
I hereby certify that the attached Finance Committee Meeting Agenda was posted 24 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: July 14, 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
June 12, 2023

1. CALL TO ORDER
The meeting was called to order at 4:00 PM.

Attendee Name Title Status Arrived
Mark Armstrong Chair Present
Scott Perkins Vice Chair Present
Lauren Barr, Planning Division Manager
Debbie Chamberlain, Community Development Director
Mark Gunning, Police Lieutenant
Diego Munoz, Accountant
Nicki MacPherson, Accounting Specialist
Kelly Sessions, Administrative Services Director
Steven Spedowfski, Interim City Manager

2. PUBLIC COMMENT

3. APPROVAL OF MINUTES

3.1 Finance Committee - Regular Meeting - May 8, 2023 4:00 PM RESULT: ACCEPTED [UNANIMOUS]
AYES: Armstrong, Perkins

4. UNFINISHED BUSINESS

5. NEW BUSINESS

5.1 Request for Qualifications (RFQ) – On-Call Planning, Economic, and Building and Safety Consulting Services
RESULT: APPROVED [UNANIMOUS]
AYES: Armstrong, Perkins
Staff Report by Lauren Barr, Planning Division Manager
Public Comment was received from Tywon Sacontrie and expressed her doubts in the need for the On-Call Consulting Services and staff report as well as her displeasure with the current contracting firm.

6. COMMITTEE MEMBER COMMENTS

7. ADJOURNMENT

3.1 Packet Pg. 3
Minutes Acceptance: Minutes of Jun 12, 2023 4:00 PM (APPROVAL OF MINUTES) 2 Finance Committee Meeting – June 12, 2023
The next Finance Committee Meeting is scheduled for July 17, 2023.

3.1 Packet Pg. 4
Minutes Acceptance: Minutes of Jun 12, 2023 4:00 PM (APPROVAL OF MINUTES)

FINANCE COMMITTEE STAFF REPORT
DATE: July 17, 2023
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 June 30, 2023)

RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the Quarterly Investment Report for the Period Ending June 30, 2023.

BACKGROUND/DISCUSSION
State law requires that City Council review the City Investment Report at least quarterly. Copies of the Investment Report prepared by FHN Financial-Main Street Advisors (FHN Financial) for the period ending June 30, 2023, the Investments Held by Trustees, and the Summary of Cash and Investments are attached for your review.

The June 30, 2023, 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 June 30, 2023 totaled $17.5 million. This account is used for daily City operations.

Total funds managed by FHN Financial as of June 30, 2023 equaled $77.9 million at book value.

The portfolio consists of $29.0 million in federal agency securities, $28.6 million in treasury

5.1 Packet Pg. 5
securities, $3.1 million in supranationals, $4.6 million in corporate notes, $3.7 million in FDIC insured CD’s, $1.0 million in municipal bonds, and $7.9 million in commercial paper. The weighted average yield to maturity on investments is 2.56% and the weighted average days to maturity is 603 days, which is 77 days shorter than last quarter. Interest rates are 34 basis points higher than the previous quarter.

The overall objectives in managing the City’s investment portfolio are listed as follows in the order of importance: first, safeguarding principal; second, maintaining appropriate liquidity; and third, generating favorable long-term results relative to the City’s benchmark, the ICE BofAML 30-month average (MMA). To accomplish these objectives, FHN Financial 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 June 30, 2023 totals $3.1 million and makes up 3.78% of the portfolio. The current rate is

4.98%. 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 (LAIF). The current interest rate is 3.17% and makes up 0.8% of the portfolio. This account is also 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 by the trustee total $2.3 million. The 2019 Certificates of Participation managed by FHN Financial total $0.3 million and are available for designated capital projects. The remaining $2.0 million of investments managed by the trustee pertain to City pension obligation bonds and are not available for general City purposes.

This investment portfolio complies 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 at least the next six months. FHN Financial provides market values for securities under their management, while market prices of securities held in trust are obtained from the trustees’ monthly account statements.

FISCAL IMPLICATIONS
This report is for informational purposes only; there is no fiscal impact.

STEPS FOLLOWING APPROVAL
The report will be presented to City Council for review and acceptance at the July 25, 2023, City Council meeting.

ATTACHMENT
A: Summary of Cash and Investments at June 30 2023

5.1 Packet Pg. 6
B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, 2023 C: Investments Held by Trustees at June 30, 2023
D: Investment Terminology

5.1 Packet Pg. 7
Demand deposits held with JP Morgan Chase Bank $ 17,464,696 Investment Portfolio:

Investments held with US Bank (FHN Financial - Main Street Advisors) 77,931,497 Fidelity US Government Money Market Funds held with US Bank 3,087,202 Investments held with Local Agency Investment Fund (LAIF) 618,266 Total Investment Portfolio 81,636,965

Investments held with Trustee 2,310,501
Total Cash and Investments $ 101,412,163
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 Manager
Approved by:

Kelly Sessions, Administrative Services Director
Summary of Cash and Investments
For the Period June 30, 2023

5.1.a
Packet Pg. 8
Attachment: A: Summary of Cash and Investments at June 30 2023 (4066 : 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] June 2023
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 June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 2
Portfolio Summary
City of San Ramon 6/30/2023

SECTOR ALLOCATION MATURITY DISTRIBUTION CREDIT QUALITY (MOODY'S)

ACCOUNT SUMMARY MONTH-END PORTFOLIO BOOK YIELD TOP ISSUERS 6/30/23 5/31/23 Issuer % Portfolio
Market Value $78,340,306 $78,534,560 U.S. Treasury 35.0% Book Value $81,636,965 $81,518,056 FHLB 13.5%
Variance -$3,296,660 -$2,983,496 FFCB 12.3%
FNMA 4.9%
Par Value $81,998,468 $81,877,620 Fidelity Govt MMF 3.8% IBRD 2.5%
Net Asset Value $95.96 $96.34 TVA 2.5%
FHLMC 2.4%
Book Yield 2.56% 2.42% Bank of Montreal 1.5%
MUFG Bank 1.5%
Market Yield 4.84% 4.74% Toyota 1.5%
Natixis 1.5%
Years to Maturity 1.65 1.72 IFC 1.3%
Bank of New York Mellon 1.3%
Effective Duration 1.55 1.62 National Securities Clearing 1.2% Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23

1.00%

1.20%

1.40%

1.60%

1.80%

2.00%

2.20%

2.40%

2.60%

2.80%

0.8%

1.2%

3.8%

3.8%

4.6%

5.6%

9.7%

35.0%

35.6%
LAIF
MUNI
MMF
SUPRA
CD
CORP
CP
TSY
AGY
0% 25% 50% 75% 100%

37.9%

23.3%

19.2%

13.6%

6.1%
0-1Y 1-2Y 2-3Y 3-4Y 4-5Y+
0%
10%
20%
30%
40%
50%
60%

5.3%

0.6%

1.3%

1.2%

72.3%

19.2%
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 June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 3
Investment Policy Compliance
City of San Ramon 6/30/2023
Category Book Value % of Portfolio % Allowed by Policy In Compliance Reserved row US Treasuries 28,588,542.46 35.02% 100% Yes
US Federal Agencies 29,043,537.48 35.58% 100% Yes
Supranational Obligations 3,108,183.13 3.81% 30% Yes
LAIF 618,265.64 0.76% 15% Yes
Commercial Paper 7,912,999.30 9.69% 25% Yes
Money Market Funds 3,087,202.47 3.78% 20% Yes
Negotiable Certificates of Deposit 3,718,189.07 4.55% 30% Yes Corporate Obligations 4,559,057.02 5.58% 30% Yes
State and Local Governments 1,000,988.90 1.23% 3% Yes
Total 81,636,965.48 100.00%
Other Metrics Portfolio Metric In Compliance
Weighted Average Maturity 1.65 Less than 2.5 Years Yes
Liquidity 37.85% 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 June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 4
Historical Book Values
City of San Ramon 6/30/2023
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 $70.8 $80.5 $81.0 $81.1 $81.4 $81.6 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
Mar-23
$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 June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 5
Historical Book Values Per Fiscal Year
City of San Ramon 6/30/2023
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 $70.8 $80.5 $81.0 $81.1 $81.4 $81.6 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 June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 6
Historical Weighted Average Maturity
City of San Ramon 6/30/2023 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 1.71 1.87 1.86 1.80 1.72 1.65 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 Mar-23

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 June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 7
Next Twelve Months Cash Flow
City of San Ramon 6/30/2023
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Maturities $8.0 $3.1 $4.5 $7.3 $2.2 $2.3 $0.0 $0.5 $0.2 $0.0 $2.0 $1.0 1 Par Value in Millions; Assumes Securities Are Held To Maturity $8.0
$3.1
$4.5
$7.3
$2.2 $2.3
$0.0
$0.5
$0.2
$0.0
$2.0
$1.0
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 $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 June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 8
Yield At Cost Per 6-Month Maturity Intervals
City of San Ramon 6/30/2023
Years Yield At Cost % of Portfolio
0 to .5 4.18% 33.27%
.5 to 1.0 1.25% 4.58%

1.0 to 1.5 1.20% 14.10%

1.5 to 2.0 1.33% 9.19%

2.0 to 2.5 0.79% 13.51%

2.5 to 3.0 2.31% 5.72%

3.0 to 3.5 2.14% 10.02%

3.5 to 4.0 3.26% 3.54%

4.0 to 4.5 4.05% 4.85%

4.5 to 5.0 4.70% 1.21%

5.0+ 0.00% 0.00%
Total 2.56% 100.0%

4.18%

1.25%

1.20% 1.33%

0.79%

2.31% 2.14%

3.26%

4.05%

4.70%
-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%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
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 June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 9
Historical Sector Allocation
City of San Ramon 6/30/2023
Sector Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 AGY 45.1% 43.8% 47.6% 44.7% 40.6% 39.6% 40.9% 43.2% 40.7% 40.6% 38.1% 35.6% TSY 28.8% 28.8% 28.8% 28.1% 28.1% 29.6% 29.6% 30.7% 30.6% 30.6% 32.9% 35.0% CP 1.6% 1.6% 0.0% 3.0% 3.0% 3.1% 6.5% 6.9% 8.2% 8.2% 8.2% 9.7% CORP 8.6% 8.6% 7.3% 7.4% 7.4% 7.8% 7.8% 6.9% 5.6% 5.6% 5.6% 5.6% CD 4.9% 4.2% 3.9% 4.0% 3.7% 3.9% 3.5% 3.1% 4.9% 4.9% 4.9% 4.6% Supra 4.1% 4.1% 4.1% 4.2% 4.2% 4.4% 4.4% 3.8% 3.8% 3.8% 3.8% 3.8% MMF 4.7% 6.8% 6.3% 6.4% 10.9% 9.3% 5.0% 3.4% 4.2% 4.3% 4.6% 3.8% Muni 1.3% 1.3% 1.3% 1.3% 1.3% 1.4% 1.4% 1.2% 1.2% 1.2% 1.2% 1.2% LAIF 0.8% 0.8% 0.8% 0.8% 0.8% 0.9% 0.9% 0.8% 0.8% 0.8% 0.8% 0.8% 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% Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
AGY
TSY
CP
CORP
CD
Supra
MMF
Muni
LAIF
9 5.1.b
Packet Pg. 17
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 10
Issuer Allocation
City of San Ramon 6/30/2023

0.3%

0.3%

0.3%

0.3%

0.3%

0.3%

0.3%

0.3%

0.3%

0.3%

0.3%

0.3%

0.3%

0.3%

0.3%

0.6%

0.8%

1.2%

1.2%

1.2%

1.2%

1.2%

1.2%

1.2%

1.3%

1.3%

1.5%

1.5%

1.5%

1.5%

2.4%

2.5%

2.5%

3.8%

4.9%

12.3%

13.5%

35.0%
CIBC Bank USA
Discover Bank
American Express National Bank
Ally Bank

TIAA FSB
Comenity Capital Bank
United Fidelity Bank FSB
UBS Bank USA
Sallie Mae Bank
EnerBank
Bank Five Nine
Axos Bank
First National Bank of Michigan
First Missouri State Bank
Morgan Stanley Private Bank
Home Depot
LAIF
ING US Funding
JPMorgan
New York Life
Microsoft
Royal Bank of Canada
State of California
National Securities Clearing
Bank of New York Mellon
IFC
Natixis
Toyota
MUFG Bank
Bank of Montreal
FHLMC
TVA
IBRD
Fidelity Govt MMF
FNMA
FFCB
FHLB
U.S. Treasury
0% 5% 10% 15% 20% 25% 30% 35% 40%
10 5.1.b
Packet Pg. 18
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 11
Historical Earnings & Book Return Performance
City of San Ramon 6/30/2023
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 $696.990 $838.507 $1,005.944 $1,107.974 $1,325.697 $1,489.898 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% 1.59% 1.67% 1.77% 1.74% 1.88% 1.93% 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
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%

1.30%

1.40%

1.50%

1.60%

1.70%

1.80%

1.90%

2.00%
11 5.1.b
Packet Pg. 19
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 12
Historical Yield At Cost vs Benchmark
City of San Ramon 6/30/2023
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
Apr-23

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 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%
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 June 30, Run Date: 7/10/2023 - 6:01 PM
Amortizing Page 13
Investment Activity
City of San Ramon 6/30/2023
Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Positions 65 62 60 58 55 53 54 60 65 65 65 65
Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Purchases 0 0 2 2 0 2 3 6 7 1 1 2
Redemptions 4 3 4 3 3 4 2 0 2 1 1 2
Total 4 3 6 5 3 6 5 6 9 2 2 4
Number of Positions at Month End
Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 50 52
54 56
58 60
62 64
66 Positions
Purchases and Redemptions* (Excluding MMF/LGIP)
Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 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 June 30, Portfolio Summary
City of San Ramon June 30, 2023
Investments Par Value Book Value
% of
Portfolio Maturity YTM
Days to
Market Value
Book
Certificates of Deposit 3,720,000.00 3,628,220.16 3,718,189.07 4.55 838 3.59 Commercial Paper 8,000,000.00 7,910,275.00 7,912,999.30 9.69 75 5.26 Corporate Bonds 4,579,000.00 4,345,842.67 4,559,057.02 5.58 513 2.30 LAIF 618,265.64 618,265.64 618,265.64 0.76 1 3.17
Money Market Funds 3,087,202.47 3,087,202.47 3,087,202.47 3.78 1 4.98 Municipal Securities 1,000,000.00 991,840.00 1,000,988.90 1.23 93 1.84 Supranational Securities 3,095,000.00 2,855,340.60 3,108,183.13 3.81 721 0.46 U.S. Agencies 29,099,000.00 27,753,007.16 29,043,537.48 35.58 617 2.17 U.S. Treasuries 28,800,000.00 27,150,312.00 28,588,542.46 35.02 801 2.10 81,998,468.11 78,340,305.70 81,636,965.48 100.00 603 2.56 Investments
Total Earnings June 30 Month Ending Fiscal Year To Date Current Year 164,200.78 1,489,897.65
Average Daily Balance 81,584,966.59 77,281,677.58
Book Rate of Return 2.45% 1.93%
Run Date: 7/10/2023 - 6:02 PM
Amortizing
14 5.1.b
Packet Pg. 22
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Holdings Report
City of San Ramon June 30, 2023
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
29278TLY4 EnerBank 09/27/2023 248,000.00 09/30/2019 247,523.84 99.21 246,040.80 0.30% NR/NR 0.24

2.000% 2.05% 247,970.93 5.31% 54.36 -1,930.13 NR 0.24
90348JEV8 UBS Bank USA 10/24/2023 248,000.00 10/25/2018 247,429.60 99.42 246,561.60 0.30% NR/NR 0.32

3.450% 3.50% 247,963.74 5.31% 164.09 -1,402.14 NR 0.31
61760ARS0 Morgan Stanley Private Bank 11/08/2023 248,000.00 11/09/2018 247,434.56 99.34 246,363.20 0.30% NR/NR 0.36

3.550% 3.60% 247,959.41 5.41% 1,302.51 -1,596.21 NR 0.35 20033AP91 Comenity Capital Bank 02/15/2024 248,000.00 02/19/2019 247,427.12 98.63 244,609.84 0.30% NR/NR 0.63

3.100% 3.15% 247,927.68 5.34% 337.01 -3,317.84 NR 0.61
87270LBU6 TIAA FSB 02/22/2024 248,000.00 02/25/2019 247,427.12 98.53 244,359.36 0.30% NR/NR 0.65

3.000% 3.05% 247,925.52 5.32% 2,629.48 -3,566.16 NR 0.63 05465DAK4 Axos Bank 03/26/2024 248,000.00 03/26/2020 248,000.00 97.33 241,368.48 0.30% NR/NR 0.74

1.650% 1.65% 248,000.00 5.36% 56.05 -6,631.52 NR 0.73
32100LCB9 First Missouri State Bank 09/13/2024 248,000.00 09/13/2019 248,000.00 95.82 237,631.12 0.30% NR/NR 1.21

1.850% 1.85% 248,000.00 5.49% 1,382.68 -10,368.88 NR 1.18 02589AEN8 American Express National Bank 03/23/2026 248,000.00 03/22/2023 247,752.00 98.97 245,453.04 0.30% NR/NR 2.73

5.000% 5.04% 247,774.61 5.41% 3,431.23 -2,321.57 NR 2.49 02007GM42 Ally Bank 03/23/2026 248,000.00 03/23/2023 247,752.00 99.10 245,763.04 0.30% NR/NR 2.73

5.050% 5.09% 247,774.40 5.41% 3,431.23 -2,011.36 NR 2.49 910286GB3 United Fidelity Bank FSB 03/30/2026 248,000.00 03/30/2023 248,000.00 98.97 245,440.64 0.30% NR/NR 2.75

5.000% 5.00% 248,000.00 5.41% 33.97 -2,559.36 NR 2.51
795451AK9 Sallie Mae Bank 08/11/2026 248,000.00 08/11/2021 248,000.00 87.84 217,840.72 0.30% NR/NR 3.12

1.100% 1.10% 248,000.00 5.39% 1,046.36 -30,159.28 NR 3.04 32114VCH8 First National Bank of Michigan 03/15/2028 248,000.00 03/15/2023 248,000.00 97.15 240,936.96 0.30% NR/NR 4.71

4.600% 4.60% 248,000.00 5.29% 500.08 -7,063.04 NR 4.14
062119BK7 Bank Five Nine 03/20/2028 248,000.00 03/20/2023 248,000.00 97.36 241,442.88 0.30% NR/NR 4.73

4.650% 4.65% 248,000.00 5.29% 347.54 -6,557.12 NR 4.14
2546732U9 Discover Bank 03/21/2028 248,000.00 03/22/2023 247,456.88 98.82 245,063.68 0.30% NR/NR 4.73

5.000% 5.05% 247,486.62 5.28% 3,431.23 -2,422.94 NR 4.11 12547CAX6 CIBC Bank USA 04/13/2028 248,000.00 04/14/2023 247,380.00 96.51 239,344.80 0.30% NR/NR 4.79

4.450% 4.51% 247,406.14 5.28% 2,358.38 -8,061.34 NR 4.23 3,715,583.12 3,628,220.16 4.55% 2.30
Total Certificates of Deposit 3,720,000.00 3.59% 3,718,189.07 5.35% 20,506.20 -89,968.89 2.08 Commercial Paper
78015DU32 Royal Bank of Canada, NY 07/03/2023 1,000,000.00 10/07/2022 965,627.78 100.00 1,000,000.00 1.22% P-1/A-1+ 0.01

0.000% 4.76% 999,612.34 0.00% 0.00 387.66 F1+ 0.01
Run Date: 7/10/2023 - 6:02 PM
Amortizing
15 5.1.b
Packet Pg. 23
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Holdings Report
City of San Ramon June 30, 2023
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
Commercial Paper
06366HU62 Bank of Montreal Chicago 07/06/2023 1,250,000.00 01/06/2023 1,217,759.38 99.96 1,249,475.00 1.53% P-1/A-1 0.02

0.000% 5.27% 1,248,925.31 2.56% 0.00 549.69 F1+ 0.02
46590EW87 JPMorgan Securities 09/08/2023 1,000,000.00 02/15/2023 971,812.50 98.99 989,890.00 1.21% P-1/A-1 0.19

0.000% 5.09% 990,557.88 5.33% 0.00 -667.88 F1+ 0.19
62479MWF6 MUFG Bank, NY 09/15/2023 1,250,000.00 12/20/2022 1,202,831.60 98.88 1,236,050.00 1.51% P-1/A-1 0.21

0.000% 5.25% 1,236,650.45 5.35% 0.00 -600.45 F1 0.21
89233HX66 Toyota Motor Credit 10/06/2023 1,250,000.00 01/10/2023 1,202,271.18 98.54 1,231,687.50 1.51% P-1/A-1+ 0.27

0.000% 5.31% 1,232,774.56 5.54% 0.00 -1,087.06 F1 0.27
4497W1XG6 ING US Funding LLC 10/16/2023 1,000,000.00 03/02/2023 967,320.00 98.38 983,810.00 1.21% P-1/A-1 0.30

0.000% 5.33% 984,535.36 5.56% 0.00 -725.36 NR 0.30
63873KZ42 Natixis, NY 12/04/2023 1,250,000.00 06/20/2023 1,217,991.66 97.55 1,219,362.50 1.49% P-1/A-1 0.43

0.000% 5.67% 1,219,943.39 5.84% 0.00 -580.89 F1+ 0.43
7,745,614.09 7,910,275.00 9.69% 0.21
Total Commercial Paper 8,000,000.00 5.26% 7,912,999.30 4.36% 0.00 -2,724.29 0.21 Corporate Bonds
594918BQ6 Microsoft 08/08/2023 1,000,000.00 05/01/2019 976,240.00 99.71 997,050.00 1.22% Aaa/AAA 0.11

2.000% 06/08/2023 2.59% 999,412.57 4.77% 7,944.44 -2,362.57 NR 0.09 06406RAL1 Bank of New York Mellon 10/24/2024 1,079,000.00 06/28/2022 1,044,137.51 95.57 1,031,232.67 1.30% A1/A 1.32

2.100% 3.56% 1,059,233.47 5.63% 4,217.09 -28,000.80 AA- 1.25 64952WDL4 New York Life 01/22/2025 1,000,000.00 01/22/2020 996,410.00 94.57 945,680.00 1.22% Aaa/AA+ 1.57

2.000% 2.08% 998,879.12 5.68% 8,833.33 -53,199.12 AAA 1.48 437076CM2 Home Depot 04/15/2025 500,000.00 03/28/2022 499,125.00 95.91 479,550.00 0.61% A2/A 1.79

2.700% 2.76% 499,485.53 5.12% 2,850.00 -19,935.53 A 1.68 637639AE5 National Securities Clearing 12/07/2025 1,000,000.00 01/07/2021 1,004,130.00 89.23 892,330.00 1.23% Aaa/AA+ 2.44

0.750% 11/07/2025 0.66% 1,002,046.33 5.53% 500.00 -109,716.33 NR 2.33 4,520,042.51 4,345,842.67 5.58% 1.41
Total Corporate Bonds 4,579,000.00 2.30% 4,559,057.02 5.38% 24,344.86 -213,214.35 1.33 LAIF
9807828 LAIF 07/01/2023 618,265.64 04/14/2023 618,265.64 1.00 618,265.64 0.76% NR/NR 0.00

3.170% 3.17% 618,265.64 3.17% 0.00 0.00 NR 0.00
Run Date: 7/10/2023 - 6:02 PM
Amortizing
16 5.1.b
Packet Pg. 24
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Holdings Report
City of San Ramon June 30, 2023
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
618,265.64 618,265.64 0.76% 0.00
Total LAIF 618,265.64 3.17% 618,265.64 3.17% 0.00 0.00 0.00 Money Market Funds
FIGXX Fidelity Govt MMF 07/01/2023 3,087,202.47 3,087,202.47 0.00 3,087,202.47 3.78% Aaa/AAA 0.00

4.980% 4.98% 3,087,202.47 4.98% 12,165.32 0.00 NR 0.00
3,087,202.47 3,087,202.47 3.78% 0.00
Total Money Market Funds 3,087,202.47 4.98% 3,087,202.47 4.98% 12,165.32 0.00 0.00 Municipal Securities
13063DDG0 State of California 10/01/2023 1,000,000.00 11/27/2019 1,015,040.00 99.18 991,840.00 1.23% Aa2/AA- 0.25

2.250% 1.84% 1,000,988.90 5.49% 5,625.00 -9,148.90 AA 0.23 1,015,040.00 991,840.00 1.23% 0.25
Total Municipal Securities 1,000,000.00 1.84% 1,000,988.90 5.49% 5,625.00 -9,148.90 0.23 Supranational Securities
45950KCR9 IFC 10/16/2024 1,060,000.00 01/21/2021 1,100,216.40 95.12 1,008,293.20 1.32% Aaa/AAA 1.30

1.375% 0.35% 1,073,933.71 5.32% 3,036.46 -65,640.51 AAA 1.24 459058JL8 IBRD 10/28/2025 2,035,000.00 02/04/2021 2,033,473.75 90.76 1,847,047.40 2.49% Aaa/AAA 2.33

0.500% 0.52% 2,034,249.41 4.74% 1,780.62 -187,202.01 AAA 2.24 3,133,690.15 2,855,340.60 3.81% 1.97
Total Supranational Securities 3,095,000.00 0.46% 3,108,183.13 4.94% 4,817.08 -252,842.52 1.90 U.S. Agencies
313384HV4 FHLB 07/07/2023 2,000,000.00 01/04/2023 1,952,517.78 99.95 1,998,920.00 2.45% P-1/A-1+ 0.02

0.000% 4.76% 1,998,183.74 2.82% 0.00 736.26 F1+ 0.02
313384KU2 FHLB 08/23/2023 2,051,000.00 02/22/2023 1,999,984.80 99.31 2,036,868.61 2.49% P-1/A-1+ 0.15

0.000% 5.05% 2,036,061.85 4.69% 0.00 806.76 F1+ 0.15
3136G0X97 FNMA 10/30/2023 2,000,000.00 10/09/2019 2,055,480.00 98.92 1,978,480.00 2.46% Aaa/AA+ 0.33

2.125% 1.42% 2,004,556.88 5.39% 7,201.39 -26,076.88 AAA 0.32 3133EKKU9 FFCB 11/08/2023 1,000,000.00 06/04/2019 1,013,870.00 98.93 989,250.00 1.23% Aaa/AA+ 0.36

2.300% 1.97% 1,001,113.78 5.36% 3,386.11 -11,863.78 AAA 0.34 Run Date: 7/10/2023 - 6:02 PM
Amortizing
17 5.1.b
Packet Pg. 25
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Holdings Report
City of San Ramon June 30, 2023
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
3133EJWW5 FFCB 12/14/2023 1,005,000.00 12/31/2018 1,013,462.10 98.93 994,236.45 1.23% Aaa/AA+ 0.46

2.950% 2.77% 1,005,777.91 5.35% 1,400.02 -11,541.46 AAA 0.44 3133EKQU3 FFCB 06/13/2024 1,000,000.00 06/20/2019 998,320.00 96.76 967,570.00 1.22% Aaa/AA+ 0.96

1.950% 1.99% 999,678.62 5.49% 975.00 -32,108.62 AAA 0.92 3133EKA63 FFCB 08/16/2024 2,000,000.00 08/16/2019 1,993,680.00 96.03 1,920,660.00 2.45% Aaa/AA+ 1.13

1.600% 1.67% 1,998,574.49 5.27% 12,000.00 -77,914.49 AAA 1.08 3133EKP75 FFCB 09/17/2024 2,000,000.00 09/17/2019 1,997,420.00 95.64 1,912,860.00 2.45% Aaa/AA+ 1.22

1.600% 1.63% 1,999,373.63 5.35% 9,244.44 -86,513.63 AAA 1.16 3133EK4Y9 FFCB 11/01/2024 1,043,000.00 05/07/2020 1,090,612.96 95.47 995,752.10 1.29% Aaa/AA+ 1.34

1.650% 0.62% 1,057,189.49 5.20% 2,868.25 -61,437.39 AAA 1.28 3130AQXY4 FHLB 02/28/2025 2,000,000.00 02/28/2022 2,000,000.00 94.82 1,896,380.00 2.45% Aaa/AA+ 1.67

2.000% 07/28/2023 2.00% 2,000,000.00 5.29% 13,666.67 -103,620.00 AAA 1.58 880591EW8 TVA 05/15/2025 2,000,000.00 05/11/2020 2,002,840.00 92.27 1,845,360.00 2.45% Aaa/AA+ 1.88

0.750% 0.72% 2,001,062.64 5.13% 1,916.67 -155,702.64 AAA 1.81 3137EAEX3 FHLMC 09/23/2025 2,000,000.00 10/06/2020 1,991,000.00 90.74 1,814,740.00 2.44% Aaa/AA+ 2.24

0.375% 0.47% 1,995,955.79 4.80% 2,041.67 -181,215.79 AAA 2.16 3135G06G3 FNMA 11/07/2025 2,000,000.00 01/20/2021 2,000,620.00 90.63 1,812,640.00 2.45% Aaa/AA+ 2.36

0.500% 0.49% 2,000,304.08 4.76% 1,500.00 -187,664.08 AAA 2.27 3130AL7M0 FHLB 02/24/2026 2,000,000.00 02/24/2021 2,000,000.00 89.70 1,794,020.00 2.45% Aaa/AA+ 2.66

0.625% 08/24/2023 0.63% 2,000,000.00 4.81% 4,409.72 -205,980.00 AAA 2.55 3133EN7A2 FFCB 10/26/2026 2,000,000.00 02/07/2023 1,972,388.00 97.32 1,946,320.00 2.42% Aaa/AA+ 3.33

3.625% 4.03% 1,975,336.85 4.50% 13,090.28 -29,016.85 AAA 3.04 3130AQW66 FHLB 02/25/2027 1,000,000.00 02/25/2022 1,000,000.00 91.70 916,950.00 1.22% Aaa/AA+ 3.66

2.080% 08/25/2023 2.08% 1,000,000.00 4.57% 7,280.00 -83,050.00 AAA 3.32 3130AUSN5 FHLB 10/01/2027 2,000,000.00 02/07/2023 1,967,600.00 96.60 1,932,000.00 2.41% Aaa/AA+ 4.26

3.500% 3.89% 1,970,367.74 4.38% 17,500.00 -38,367.74 AAA 3.83 29,049,795.64 27,753,007.16 35.58% 1.69
Total U.S. Agencies 29,099,000.00 2.17% 29,043,537.48 4.84% 98,480.22 -1,290,530.33 1.59 U.S. Treasuries
912797GS0 U.S. Treasury 09/12/2023 2,000,000.00 05/16/2023 1,966,878.34 98.99 1,979,740.00 2.42% P-1/A-1+ 0.20

0.000% 5.18% 1,979,441.72 5.05% 0.00 298.28 F1+ 0.20
912797GV3 U.S. Treasury 10/03/2023 1,800,000.00 06/07/2023 1,769,061.58 98.68 1,776,222.00 2.17% P-1/A-1+ 0.26

0.000% 5.42% 1,775,195.92 5.14% 0.00 1,026.08 F1+ 0.26
91282CAW1 U.S. Treasury 11/15/2023 1,000,000.00 10/29/2021 993,750.00 98.16 981,600.00 1.22% Aaa/AA+ 0.38

0.250% 0.56% 998,845.38 5.25% 319.29 -17,245.38 AAA 0.36 Run Date: 7/10/2023 - 6:02 PM
Amortizing
18 5.1.b
Packet Pg. 26
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Holdings Report
City of San Ramon June 30, 2023
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
91282CCC3 U.S. Treasury 05/15/2024 2,000,000.00 08/17/2021 1,993,671.88 95.62 1,912,420.00 2.45% Aaa/AA+ 0.88

0.250% 0.37% 1,997,979.04 5.44% 638.59 -85,559.04 AAA 0.84 912828YM6 U.S. Treasury 10/31/2024 2,000,000.00 04/06/2021 2,067,656.26 95.15 1,902,960.00 2.48% Aaa/AA+ 1.34

1.500% 0.54% 2,025,371.09 5.31% 5,054.35 -122,411.09 AAA 1.28 912828G38 U.S. Treasury 11/15/2024 2,000,000.00 07/23/2021 2,118,750.00 96.03 1,920,620.00 2.51% Aaa/AA+ 1.38

2.250% 0.44% 2,049,421.97 5.28% 5,747.28 -128,801.97 AAA 1.32 912828ZF0 U.S. Treasury 03/31/2025 2,000,000.00 07/23/2021 1,998,359.38 92.50 1,850,000.00 2.45% Aaa/AA+ 1.75

0.500% 0.52% 1,999,220.49 5.03% 2,513.66 -149,220.49 AAA 1.69 91282CAT8 U.S. Treasury 10/31/2025 2,000,000.00 04/06/2021 1,946,875.00 90.25 1,805,000.00 2.42% Aaa/AA+ 2.34

0.250% 0.84% 1,972,816.81 4.71% 842.39 -167,816.81 AAA 2.26 912828M56 U.S. Treasury 11/15/2025 2,000,000.00 02/07/2022 2,041,015.62 94.48 1,889,540.00 2.48% Aaa/AA+ 2.38

2.250% 1.69% 2,025,884.22 4.73% 5,747.28 -136,344.22 AAA 2.25 912828R36 U.S. Treasury 05/15/2026 2,000,000.00 06/07/2022 1,897,500.00 92.27 1,845,400.00 2.36% Aaa/AA+ 2.88

1.625% 3.01% 1,925,156.47 4.52% 4,150.82 -79,756.47 AAA 2.73 91282CCW9 U.S. Treasury 08/31/2026 1,000,000.00 08/31/2021 997,798.42 89.19 891,880.00 1.22% Aaa/AA+ 3.17

0.750% 0.80% 998,603.82 4.45% 2,506.79 -106,723.82 AAA 3.03 91282CCZ2 U.S. Treasury 09/30/2026 1,000,000.00 10/13/2021 990,351.56 89.47 894,690.00 1.22% Aaa/AA+ 3.25

0.875% 1.08% 993,677.69 4.39% 2,199.45 -98,987.69 AAA 3.11 91282CDG3 U.S. Treasury 10/31/2026 2,000,000.00 02/07/2022 1,941,093.76 89.92 1,798,440.00 2.40% Aaa/AA+ 3.34

1.125% 1.78% 1,958,421.12 4.41% 3,790.76 -159,981.12 AAA 3.18 912828U24 U.S. Treasury 11/15/2026 2,000,000.00 03/14/2022 2,003,593.76 92.50 1,849,920.00 2.45% Aaa/AA+ 3.38

2.000% 1.96% 2,002,597.94 4.42% 5,108.70 -152,677.94 AAA 3.17 912828X88 U.S. Treasury 05/15/2027 2,000,000.00 02/07/2023 1,882,421.88 93.12 1,862,340.00 2.32% Aaa/AA+ 3.88

2.375% 3.88% 1,893,213.71 4.32% 6,066.58 -30,873.71 AAA 3.60 91282CFU0 U.S. Treasury 10/31/2027 2,000,000.00 02/23/2023 1,992,109.38 99.48 1,989,540.00 2.44% Aaa/AA+ 4.34

4.125% 4.22% 1,992,695.07 4.26% 13,899.46 -3,155.07 AAA 3.87 28,600,886.82 27,150,312.00 35.02% 2.19
Total U.S. Treasuries 28,800,000.00 2.10% 28,588,542.46 4.81% 58,585.40 -1,438,230.46 2.07 81,486,120.45 78,340,305.70 100.00% 1.65
TOTAL PORTFOLIO 81,998,468.11 2.56% 81,636,965.48 4.84% 224,524.08 -3,296,659.74 1.55 TOTAL MARKET VALUE PLUS ACCRUED INTEREST 78,564,829.78
Run Date: 7/10/2023 - 6:02 PM
Amortizing
19 5.1.b
Packet Pg. 27
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Maturity Report
City of San Ramon June 30, 2023
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
Issuer YTM
Days to
Maturity
Book
FIGXX Fidelity Govt MMF 3,087,202.47 4.980% 07/01/2023 3,087,202.47 1 3,087,202.47 4.98% 1 9807828 LAIF 06/16/2021 618,265.64 3.170% 07/01/2023 618,265.64 1 618,265.64 3.17% 1 78015DU32 Royal Bank of Canada, NY 10/07/2022 999,612.34 0.000% 07/03/2023 1,000,000.00 266 1,000,000.00 4.76% 3 06366HU62 Bank of Montreal Chicago 01/06/2023 1,248,925.31 0.000% 07/06/2023 1,250,000.00 175 1,249,475.00 5.27% 6 313384HV4 FHLB 01/04/2023 1,998,183.74 0.000% 07/07/2023 2,000,000.00 177 1,998,920.00 4.76% 7 594918BQ6 Microsoft 05/01/2019 999,412.57 2.000% 08/08/2023 1,000,000.00 1,521 997,050.00 2.59% 39 313384KU2 FHLB 02/22/2023 2,036,061.85 0.000% 08/23/2023 2,051,000.00 128 2,036,868.61 5.05% 54 46590EW87 JPMorgan Securities 02/15/2023 990,557.88 0.000% 09/08/2023 1,000,000.00 135 989,890.00 5.09% 70 912797GS0 U.S. Treasury 05/16/2023 1,979,441.72 0.000% 09/12/2023 2,000,000.00 45 1,979,740.00 5.18% 74 62479MWF6 MUFG Bank, NY 12/20/2022 1,236,650.45 0.000% 09/15/2023 1,250,000.00 192 1,236,050.00 5.25% 77 29278TLY4 EnerBank 09/30/2019 247,970.93 2.000% 09/27/2023 248,000.00 1,369 246,040.80 2.05% 89 13063DDG0 State of California 11/27/2019 1,000,988.90 2.250% 10/01/2023 1,000,000.00 1,311 991,840.00 1.84% 93 912797GV3 U.S. Treasury 06/07/2023 1,775,195.92 0.000% 10/03/2023 1,800,000.00 23 1,776,222.00 5.42% 95 89233HX66 Toyota Motor Credit 01/10/2023 1,232,774.56 0.000% 10/06/2023 1,250,000.00 171 1,231,687.50 5.31% 98 4497W1XG6 ING US Funding LLC 03/02/2023 984,535.36 0.000% 10/16/2023 1,000,000.00 120 983,810.00 5.33% 108 90348JEV8 UBS Bank USA 10/25/2018 247,963.74 3.450% 10/24/2023 248,000.00 1,709 246,561.60 3.50% 116 3136G0X97 FNMA 10/09/2019 2,004,556.88 2.125% 10/30/2023 2,000,000.00 1,360 1,978,480.00 1.42% 122 61760ARS0 Morgan Stanley Private Bank 11/09/2018 247,959.41 3.550% 11/08/2023 248,000.00 1,694 246,363.20 3.60% 131 3133EKKU9 FFCB 06/04/2019 1,001,113.78 2.300% 11/08/2023 1,000,000.00 1,487 989,250.00 1.97% 131 91282CAW1 U.S. Treasury 10/29/2021 998,845.38 0.250% 11/15/2023 1,000,000.00 609 981,600.00 0.56% 138 63873KZ42 Natixis, NY 06/20/2023 1,219,943.39 0.000% 12/04/2023 1,250,000.00 10 1,219,362.50 5.67% 157 3133EJWW5 FFCB 12/31/2018 1,005,777.91 2.950% 12/14/2023 1,005,000.00 1,642 994,236.45 2.77% 167 20033AP91 Comenity Capital Bank 02/19/2019 247,927.68 3.100% 02/15/2024 248,000.00 1,592 244,609.84 3.15% 230 87270LBU6 TIAA FSB 02/25/2019 247,925.52 3.000% 02/22/2024 248,000.00 1,586 244,359.36 3.05% 237 05465DAK4 Axos Bank 03/26/2020 248,000.00 1.650% 03/26/2024 248,000.00 1,191 241,368.48 1.65% 270 91282CCC3 U.S. Treasury 08/17/2021 1,997,979.04 0.250% 05/15/2024 2,000,000.00 682 1,912,420.00 0.37% 320 3133EKQU3 FFCB 06/20/2019 999,678.62 1.950% 06/13/2024 1,000,000.00 1,471 967,570.00 1.99% 349 3133EKA63 FFCB 08/16/2019 1,998,574.49 1.600% 08/16/2024 2,000,000.00 1,414 1,920,660.00 1.67% 413 32100LCB9 First Missouri State Bank 09/13/2019 248,000.00 1.850% 09/13/2024 248,000.00 1,386 237,631.12 1.85% 441 3133EKP75 FFCB 09/17/2019 1,999,373.63 1.600% 09/17/2024 2,000,000.00 1,382 1,912,860.00 1.63% 445 45950KCR9 IFC 01/21/2021 1,073,933.71 1.375% 10/16/2024 1,060,000.00 890 1,008,293.20 0.35% 474 06406RAL1 Bank of New York Mellon 06/28/2022 1,059,233.47 2.100% 10/24/2024 1,079,000.00 367 1,031,232.67 3.56% 482 912828YM6 U.S. Treasury 04/06/2021 2,025,371.09 1.500% 10/31/2024 2,000,000.00 815 1,902,960.00 0.54% 489 3133EK4Y9 FFCB 05/07/2020 1,057,189.49 1.650% 11/01/2024 1,043,000.00 1,149 995,752.10 0.62% 490 912828G38 U.S. Treasury 07/23/2021 2,049,421.97 2.250% 11/15/2024 2,000,000.00 707 1,920,620.00 0.44% 504 64952WDL4 New York Life 01/22/2020 998,879.12 2.000% 01/22/2025 1,000,000.00 1,255 945,680.00 2.08% 572 Run Date: 7/10/2023 - 6:02 PM
Amortizing
20 5.1.b
Packet Pg. 28
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Maturity Report
City of San Ramon June 30, 2023
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
Issuer YTM
Days to
Maturity
Book
3130AQXY4 FHLB 02/28/2022 2,000,000.00 2.000% 02/28/2025 2,000,000.00 487 1,896,380.00 2.00% 609 912828ZF0 U.S. Treasury 07/23/2021 1,999,220.49 0.500% 03/31/2025 2,000,000.00 707 1,850,000.00 0.52% 640 437076CM2 Home Depot 03/28/2022 499,485.53 2.700% 04/15/2025 500,000.00 459 479,550.00 2.76% 655 880591EW8 TVA 05/11/2020 2,001,062.64 0.750% 05/15/2025 2,000,000.00 1,145 1,845,360.00 0.72% 685 3137EAEX3 FHLMC 10/06/2020 1,995,955.79 0.375% 09/23/2025 2,000,000.00 997 1,814,740.00 0.47% 816 459058JL8 IBRD 02/04/2021 2,034,249.41 0.500% 10/28/2025 2,035,000.00 876 1,847,047.40 0.52% 851 91282CAT8 U.S. Treasury 04/06/2021 1,972,816.81 0.250% 10/31/2025 2,000,000.00 815 1,805,000.00 0.84% 854 3135G06G3 FNMA 01/20/2021 2,000,304.08 0.500% 11/07/2025 2,000,000.00 891 1,812,640.00 0.49% 861 912828M56 U.S. Treasury 02/07/2022 2,025,884.22 2.250% 11/15/2025 2,000,000.00 508 1,889,540.00 1.69% 869 637639AE5 National Securities Clearing 01/07/2021 1,002,046.33 0.750% 12/07/2025 1,000,000.00 904 892,330.00 0.66% 891 3130AL7M0 FHLB 02/24/2021 2,000,000.00 0.625% 02/24/2026 2,000,000.00 856 1,794,020.00 0.63% 970 02589AEN8 American Express National Bank 03/22/2023 247,774.61 5.000% 03/23/2026 248,000.00 100 245,453.04 5.04% 997 02007GM42 Ally Bank 03/23/2023 247,774.40 5.050% 03/23/2026 248,000.00 99 245,763.04 5.09% 997 910286GB3 United Fidelity Bank FSB 03/30/2023 248,000.00 5.000% 03/30/2026 248,000.00 92 245,440.64 5.00% 1,004 912828R36 U.S. Treasury 06/07/2022 1,925,156.47 1.625% 05/15/2026 2,000,000.00 388 1,845,400.00 3.01% 1,050 795451AK9 Sallie Mae Bank 08/11/2021 248,000.00 1.100% 08/11/2026 248,000.00 688 217,840.72 1.10% 1,138 91282CCW9 U.S. Treasury 08/31/2021 998,603.82 0.750% 08/31/2026 1,000,000.00 668 891,880.00 0.80% 1,158 91282CCZ2 U.S. Treasury 10/13/2021 993,677.69 0.875% 09/30/2026 1,000,000.00 625 894,690.00 1.08% 1,188 3133EN7A2 FFCB 02/07/2023 1,975,336.85 3.625% 10/26/2026 2,000,000.00 143 1,946,320.00 4.03% 1,214 91282CDG3 U.S. Treasury 02/07/2022 1,958,421.12 1.125% 10/31/2026 2,000,000.00 508 1,798,440.00 1.78% 1,219 912828U24 U.S. Treasury 03/14/2022 2,002,597.94 2.000% 11/15/2026 2,000,000.00 473 1,849,920.00 1.96% 1,234 3130AQW66 FHLB 02/25/2022 1,000,000.00 2.080% 02/25/2027 1,000,000.00 490 916,950.00 2.08% 1,336 912828X88 U.S. Treasury 02/07/2023 1,893,213.71 2.375% 05/15/2027 2,000,000.00 143 1,862,340.00 3.88% 1,415 3130AUSN5 FHLB 02/07/2023 1,970,367.74 3.500% 10/01/2027 2,000,000.00 143 1,932,000.00 3.89% 1,554 91282CFU0 U.S. Treasury 02/23/2023 1,992,695.07 4.125% 10/31/2027 2,000,000.00 127 1,989,540.00 4.22% 1,584 32114VCH8 First National Bank of Michigan 03/15/2023 248,000.00 4.600% 03/15/2028 248,000.00 107 240,936.96 4.60% 1,720 062119BK7 Bank Five Nine 03/20/2023 248,000.00 4.650% 03/20/2028 248,000.00 102 241,442.88 4.65% 1,725 2546732U9 Discover Bank 03/22/2023 247,486.62 5.000% 03/21/2028 248,000.00 100 245,063.68 5.05% 1,726 12547CAX6 CIBC Bank USA 04/14/2023 247,406.14 4.450% 04/13/2028 248,000.00 77 239,344.80 4.51% 1,749 Net Maturities and Averages 81,636,965.48 81,998,468.11 78,340,305.70 2.56% 603 Run Date: 7/10/2023 - 6:02 PM
Amortizing
21 5.1.b
Packet Pg. 29
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Summary by Issuer
City of San Ramon June 30, 2023
Issuer Investments
Number of Par
Value
Book
Value
% of
Portfolio YTM Maturity
Book Days to
U.S. Treasury 16 28,800,000.00 28,588,542.46 35.02 2.10 801 FHLB 6 11,051,000.00 11,004,613.33 13.48 3.16 698
FFCB 7 10,048,000.00 10,037,044.76 12.29 2.19 526
FNMA 2 4,000,000.00 4,004,860.96 4.91 0.96 491
Fidelity Govt MMF 1 3,087,202.47 3,087,202.47 3.78 4.98 1 IBRD 1 2,035,000.00 2,034,249.41 2.49 0.52 851
TVA 1 2,000,000.00 2,001,062.64 2.45 0.72 685
FHLMC 1 2,000,000.00 1,995,955.79 2.44 0.47 816
Bank of Montreal 1 1,250,000.00 1,248,925.31 1.53 5.27 6 MUFG Bank 1 1,250,000.00 1,236,650.45 1.51 5.25 77
Toyota 1 1,250,000.00 1,232,774.56 1.51 5.31 98
Natixis 1 1,250,000.00 1,219,943.39 1.49 5.67 157
IFC 1 1,060,000.00 1,073,933.71 1.32 0.35 474
Bank of New York Mellon 1 1,079,000.00 1,059,233.47 1.30 3.56 482 National Securities Clearing 1 1,000,000.00 1,002,046.33 1.23 0.66 891 State of California 1 1,000,000.00 1,000,988.90 1.23 1.84 93 Royal Bank of Canada 1 1,000,000.00 999,612.34 1.22 4.76 3 Microsoft 1 1,000,000.00 999,412.57 1.22 2.59 39
New York Life 1 1,000,000.00 998,879.12 1.22 2.08 572
JPMorgan 1 1,000,000.00 990,557.88 1.21 5.09 70
ING US Funding 1 1,000,000.00 984,535.36 1.21 5.33 108
LAIF 1 618,265.64 618,265.64 0.76 3.17 1
Home Depot 1 500,000.00 499,485.53 0.61 2.76 655
First Missouri State Bank 1 248,000.00 248,000.00 0.30 1.85 441 First National Bank of Michigan 1 248,000.00 248,000.00 0.30 4.60 1,720 EnerBank 1 248,000.00 247,970.93 0.30 2.05 89
Axos Bank 1 248,000.00 248,000.00 0.30 1.65 270
Bank Five Nine 1 248,000.00 248,000.00 0.30 4.65 1,725
Morgan Stanley Private Bank 1 248,000.00 247,959.41 0.30 3.60 131 Sallie Mae Bank 1 248,000.00 248,000.00 0.30 1.10 1,138 UBS Bank USA 1 248,000.00 247,963.74 0.30 3.50 116
United Fidelity Bank FSB 1 248,000.00 248,000.00 0.30 5.00 1,004 TIAA FSB 1 248,000.00 247,925.52 0.30 3.05 237
Comenity Capital Bank 1 248,000.00 247,927.68 0.30 3.15 230 Ally Bank 1 248,000.00 247,774.40 0.30 5.09 997
American Express National Bank 1 248,000.00 247,774.61 0.30 5.04 997 Run Date: 7/10/2023 - 6:02 PM
Amortizing
22 5.1.b
Packet Pg. 30
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Summary by Issuer
City of San Ramon June 30, 2023
Issuer Investments
Number of Par
Value
Book
Value
% of
Portfolio YTM Maturity
Book Days to
Discover Bank 1 248,000.00 247,486.62 0.30 5.05 1,726
CIBC Bank USA 1 248,000.00 247,406.14 0.30 4.51 1,749
Total and Average 65 81,998,468.11 81,636,965.48 100.00% 2.56 603 Run Date: 7/10/2023 - 6:02 PM
Amortizing
23 5.1.b
Packet Pg. 31
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Income Earned Summary
City of San Ramon June 30, 2023
June 30 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
57,901.90 1,137,977.02
224,524.08 224,524.08
-179,233.29 -229,291.96
103,192.69 1,133,209.14
61,008.09 356,701.37

0.00 -12.86
164,200.78 1,489,897.65
Run Date: 7/10/2023 - 6:02 PM
Amortizing
24 5.1.b
Packet Pg. 32
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Income Earned
City of San Ramon June 01, 2023 - June 30, 2023
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
17312QN96 Citibank 06/28/2023 0.00 247,991.29 0.00 3,475.40 4,080.79 0.00 605.39 8.71 614.10 29278TLY4 EnerBank 09/27/2023 248,000.00 247,961.14 247,970.93 67.95 421.26 54.36 407.67 9.80 417.47 90348JEV8 UBS Bank USA 10/24/2023 248,000.00 247,954.37 247,963.74 187.53 726.67 164.09 703.23 9.38 712.61 61760ARS0 Morgan Stanley Private Bank 11/08/2023 248,000.00 247,950.12 247,959.41 578.89 0.00 1,302.51 723.62 9.29 732.91 20033AP91 Comenity Capital Bank 02/15/2024 248,000.00 247,918.25 247,927.68 358.07 652.95 337.01 631.89 9.43 641.32 87270LBU6 TIAA FSB 02/22/2024 248,000.00 247,916.09 247,925.52 2,017.97 0.00 2,629.48 611.51 9.43 620.94 05465DAK4 Axos Bank 03/26/2024 248,000.00 248,000.00 248,000.00 67.27 347.54 56.05 336.32 0.00 336.32 32100LCB9 First Missouri State Bank 09/13/2024 248,000.00 248,000.00 248,000.00 1,005.59 0.00 1,382.68 377.09 0.00 377.09 02007GM42 Ally Bank 03/23/2026 248,000.00 247,767.61 247,774.40 2,401.86 0.00 3,431.23 1,029.37 6.79 1,036.16 02589AEN8 American Express National Bank 03/23/2026 248,000.00 247,767.82 247,774.61 2,412.05 0.00 3,431.23 1,019.18 6.78 1,025.96 910286GB3 United Fidelity Bank FSB 03/30/2026 248,000.00 248,000.00 248,000.00 67.95 1,053.15 33.97 1,019.17 0.00 1,019.17 795451AK9 Sallie Mae Bank 08/11/2026 248,000.00 248,000.00 248,000.00 822.14 0.00 1,046.36 224.22 0.00 224.22 32114VCH8 First National Bank of Michigan 03/15/2028 248,000.00 248,000.00 248,000.00 531.33 968.90 500.08 937.65 0.00 937.65 062119BK7 Bank Five Nine 03/20/2028 248,000.00 248,000.00 248,000.00 379.13 979.43 347.54 947.84 0.00 947.84 2546732U9 Discover Bank 03/21/2028 248,000.00 247,477.70 247,486.62 2,412.05 0.00 3,431.23 1,019.18 8.92 1,028.10 12547CAX6 CIBC Bank USA 04/13/2028 248,000.00 247,395.96 247,406.14 1,451.31 0.00 2,358.38 907.07 10.19 917.26 Certificates of Deposit - Sub Total 3,720,000.00 3,966,100.35 3,718,189.07 18,236.49 9,230.69 20,506.20 11,500.40 88.72 11,589.12 Commercial Paper
78015DU32 Royal Bank of Canada, NY 07/03/2023 1,000,000.00 995,865.00 999,612.34 0.00 0.00 0.00 0.00 3,747.35 3,747.35 06366HU62 Bank of Montreal Chicago 07/06/2023 1,250,000.00 1,243,730.99 1,248,925.31 0.00 0.00 0.00 0.00 5,194.32 5,194.32 46590EW87 JPMorgan Securities 09/08/2023 1,000,000.00 986,531.10 990,557.88 0.00 0.00 0.00 0.00 4,026.79 4,026.79 62479MWF6 MUFG Bank, NY 09/15/2023 1,250,000.00 1,231,488.63 1,236,650.45 0.00 0.00 0.00 0.00 5,161.83 5,161.83 89233HX66 Toyota Motor Credit 10/06/2023 1,250,000.00 1,227,571.04 1,232,774.56 0.00 0.00 0.00 0.00 5,203.52 5,203.52 4497W1XG6 ING US Funding LLC 10/16/2023 1,000,000.00 980,304.46 984,535.36 0.00 0.00 0.00 0.00 4,230.89 4,230.89 63873KZ42 Natixis, NY 12/04/2023 1,250,000.00 0.00 1,219,943.39 0.00 0.00 0.00 0.00 1,951.73 1,951.73 Commercial Paper - Sub Total 8,000,000.00 6,665,491.22 7,912,999.30 0.00 0.00 0.00 0.00 29,516.42 29,516.42 Corporate Bonds
594918BQ6 Microsoft 08/08/2023 1,000,000.00 998,964.27 999,412.57 6,277.78 0.00 7,944.44 1,666.66 448.30 2,114.96 06406RAL1 Bank of New York Mellon 10/24/2024 1,079,000.00 1,058,024.12 1,059,233.47 2,328.84 0.00 4,217.09 1,888.25 1,209.34 3,097.59 64952WDL4 New York Life 01/22/2025 1,000,000.00 998,821.28 998,879.12 7,166.67 0.00 8,833.33 1,666.66 57.84 1,724.50 437076CM2 Home Depot 04/15/2025 500,000.00 499,462.40 499,485.53 1,725.00 0.00 2,850.00 1,125.00 23.13 1,148.13 637639AE5 National Securities Clearing 12/07/2025 1,000,000.00 1,002,114.00 1,002,046.33 3,625.00 3,750.00 500.00 625.00 -67.67 557.33 Run Date: 7/10/2023 - 6:02 PM
Amortizing
25 5.1.b
Packet Pg. 33
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Income Earned
City of San Ramon June 01, 2023 - June 30, 2023
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 4,579,000.00 4,557,386.07 4,559,057.02 21,123.29 3,750.00 24,344.86 6,971.57 1,670.95 8,642.52 LAIF
9807828 LAIF 07/01/2023 618,265.64 618,265.64 618,265.64 0.00 0.00 0.00 0.00 0.00 0.00 LAIF - Sub Total 618,265.64 618,265.64 618,265.64 0.00 0.00 0.00 0.00 0.00 0.00 Money Market Funds
FIGXX Fidelity Govt MMF 07/01/2023 3,087,202.47 3,768,354.12 3,087,202.47 16,597.46 16,597.46 12,165.32 12,165.32 0.00 12,165.32 Money Market Funds - Sub Total 3,087,202.47 3,768,354.12 3,087,202.47 16,597.46 16,597.46 12,165.32 12,165.32 0.00 12,165.32 Municipal Securities
13063DDG0 State of California 10/01/2023 1,000,000.00 1,001,304.05 1,000,988.90 3,750.00 0.00 5,625.00 1,875.00 -315.14 1,559.86 Municipal Securities - Sub Total 1,000,000.00 1,001,304.05 1,000,988.90 3,750.00 0.00 5,625.00 1,875.00 -315.14 1,559.86 Supranational Securities
45950KCR9 IFC 10/16/2024 1,060,000.00 1,074,830.73 1,073,933.71 1,821.88 0.00 3,036.46 1,214.58 -897.02 317.56 459058JL8 IBRD 10/28/2025 2,035,000.00 2,034,223.44 2,034,249.41 932.71 0.00 1,780.62 847.91 25.97 873.88 Supranational Securities - Sub Total 3,095,000.00 3,109,054.17 3,108,183.13 2,754.59 0.00 4,817.08 2,062.49 -871.05 1,191.44 U.S. Agencies
3134GVQ68 FHLMC 06/16/2023 0.00 2,000,000.00 0.00 3,437.50 3,750.00 0.00 312.50 0.00 312.50 313384HV4 FHLB 07/07/2023 2,000,000.00 1,990,659.23 1,998,183.74 0.00 0.00 0.00 0.00 7,524.51 7,524.51 313384KU2 FHLB 08/23/2023 2,051,000.00 2,027,888.14 2,036,061.85 0.00 0.00 0.00 0.00 8,173.71 8,173.71 3136G0X97 FNMA 10/30/2023 2,000,000.00 2,005,658.12 2,004,556.88 3,659.72 0.00 7,201.39 3,541.67 -1,101.25 2,440.42 3133EKKU9 FFCB 11/08/2023 1,000,000.00 1,001,366.12 1,001,113.78 1,469.44 0.00 3,386.11 1,916.67 -252.34 1,664.33 3133EJWW5 FFCB 12/14/2023 1,005,000.00 1,005,920.21 1,005,777.91 13,753.15 14,823.75 1,400.02 2,470.62 -142.30 2,328.32 3133EKQU3 FFCB 06/13/2024 1,000,000.00 999,651.44 999,678.62 9,100.00 9,750.00 975.00 1,625.00 27.17 1,652.17 3133EKA63 FFCB 08/16/2024 2,000,000.00 1,998,472.67 1,998,574.49 9,333.33 0.00 12,000.00 2,666.67 101.82 2,768.49 3133EKP75 FFCB 09/17/2024 2,000,000.00 1,999,332.07 1,999,373.63 6,577.78 0.00 9,244.44 2,666.66 41.57 2,708.23 3133EK4Y9 FFCB 11/01/2024 1,043,000.00 1,058,044.99 1,057,189.49 1,434.12 0.00 2,868.25 1,434.13 -855.50 578.63 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 2,001,108.29 2,001,062.64 666.67 0.00 1,916.67 1,250.00 -45.65 1,204.35 3137EAEX3 FHLMC 09/23/2025 2,000,000.00 1,995,809.74 1,995,955.79 1,416.67 0.00 2,041.67 625.00 146.05 771.05 3135G06G3 FNMA 11/07/2025 2,000,000.00 2,000,314.49 2,000,304.08 666.67 0.00 1,500.00 833.33 -10.41 822.92 Run Date: 7/10/2023 - 6:02 PM
Amortizing
26 5.1.b
Packet Pg. 34
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Income Earned
City of San Ramon June 01, 2023 - June 30, 2023
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
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 3133EN7A2 FFCB 10/26/2026 2,000,000.00 1,974,738.83 1,975,336.85 7,048.61 0.00 13,090.28 6,041.67 598.02 6,639.69 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 3130AUSN5 FHLB 10/01/2027 2,000,000.00 1,969,806.45 1,970,367.74 11,666.67 0.00 17,500.00 5,833.33 561.29 6,394.62 U.S. Agencies - Sub Total 29,099,000.00 31,028,770.79 29,043,537.48 89,478.39 28,323.75 98,480.22 37,325.58 14,766.69 52,092.27 U.S. Treasuries
912797GS0 U.S. Treasury 09/12/2023 2,000,000.00 1,971,161.31 1,979,441.72 0.00 0.00 0.00 0.00 8,280.42 8,280.42 912797GV3 U.S. Treasury 10/03/2023 1,800,000.00 0.00 1,775,195.92 0.00 0.00 0.00 0.00 6,134.34 6,134.34 91282CAW1 U.S. Treasury 11/15/2023 1,000,000.00 998,594.38 998,845.38 115.49 0.00 319.29 203.80 251.00 454.80 91282CCC3 U.S. Treasury 05/15/2024 2,000,000.00 1,997,789.58 1,997,979.04 230.98 0.00 638.59 407.61 189.46 597.07 912828YM6 U.S. Treasury 10/31/2024 2,000,000.00 2,026,927.60 2,025,371.09 2,608.70 0.00 5,054.35 2,445.65 -1,556.51 889.14 912828G38 U.S. Treasury 11/15/2024 2,000,000.00 2,052,363.75 2,049,421.97 2,078.80 0.00 5,747.28 3,668.48 -2,941.78 726.70 912828ZF0 U.S. Treasury 03/31/2025 2,000,000.00 1,999,183.95 1,999,220.49 1,693.99 0.00 2,513.66 819.67 36.54 856.21 91282CAT8 U.S. Treasury 10/31/2025 2,000,000.00 1,971,861.89 1,972,816.81 434.78 0.00 842.39 407.61 954.91 1,362.52 912828M56 U.S. Treasury 11/15/2025 2,000,000.00 2,026,777.81 2,025,884.22 2,078.80 0.00 5,747.28 3,668.48 -893.59 2,774.89 912828R36 U.S. Treasury 05/15/2026 2,000,000.00 1,923,018.08 1,925,156.47 1,501.36 0.00 4,150.82 2,649.46 2,138.39 4,787.85 91282CCW9 U.S. Treasury 08/31/2026 1,000,000.00 998,567.65 998,603.82 1,895.38 0.00 2,506.79 611.41 36.17 647.58 91282CCZ2 U.S. Treasury 09/30/2026 1,000,000.00 993,518.04 993,677.69 1,482.24 0.00 2,199.45 717.21 159.65 876.86 91282CDG3 U.S. Treasury 10/31/2026 2,000,000.00 1,957,397.85 1,958,421.12 1,956.52 0.00 3,790.76 1,834.24 1,023.27 2,857.51 912828U24 U.S. Treasury 11/15/2026 2,000,000.00 2,002,661.10 2,002,597.94 1,847.83 0.00 5,108.70 3,260.87 -63.16 3,197.71 912828X88 U.S. Treasury 05/15/2027 2,000,000.00 1,890,949.69 1,893,213.71 2,194.29 0.00 6,066.58 3,872.29 2,264.02 6,136.31 91282CFU0 U.S. Treasury 10/31/2027 2,000,000.00 1,992,556.71 1,992,695.07 7,173.91 0.00 13,899.46 6,725.55 138.35 6,863.90 U.S. Treasuries - Sub Total 28,800,000.00 26,803,329.39 28,588,542.46 27,293.07 0.00 58,585.40 31,292.33 16,151.49 47,443.82 Grand Total 81,998,468.11 81,518,055.80 81,636,965.48 179,233.29 57,901.90 224,524.08 103,192.69 61,008.09 164,200.78 Run Date: 7/10/2023 - 6:02 PM
Amortizing
27 5.1.b
Packet Pg. 35
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Realized Gains and Losses
City of San Ramon June 01, 2023 - June 30, 2023
CUSIP Par Value Sale Date Days Held Maturity/Sales Realized Issuer Purchase Date Coupon Rate Maturity Date Term Book Value Proceeds Gain/Loss Certificates of Deposit
17312QN96 06/29/2018 248,000.00 06/28/2023 1,825 248,000.00 248,000.00 0.00 Citibank 3.300% 06/28/2023 1,825
Total Certificates of Deposit 248,000.00 248,000.00 0.00 U.S. Agencies
3134GVQ68 06/16/2020 2,000,000.00 06/16/2023 1,095 2,000,000.00 2,000,000.00 0.00 FHLMC 0.375% 06/16/2023 1,095
Total U.S. Agencies 2,000,000.00 2,000,000.00 0.00
Grand Total 2,248,000.00 2,248,000.00 0.00
Run Date: 7/10/2023 - 6:02 PM
Amortizing
28 5.1.b
Packet Pg. 36
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Transaction Report
City of San Ramon June 01, 2023 - June 30, 2023
Transaction Transaction Security Security Maturity
Date Type ID Description Date Purchases Redemptions Interest Deposits Withdrawals 06/01/2023 Interest FIGXX Fidelity Govt MMF - - 16,597.46 - - 06/07/2023 Interest 637639AE5 NSCCLF 0 3/4 12/07/25 12/07/2025 - - 3,750.00 - - 06/07/2023 Purchase 912797GV3 TREASURY BILL 10/03/2023 -1,769,061.88 - - - - 06/13/2023 Interest 3133EKQU3 FFCB 1.95 06/13/24 06/13/2024 - - 9,750.00 - - 06/14/2023 Interest 3133EJWW5 FFCB 2.95 12/14/23 12/14/2023 - - 14,823.75 - - 06/15/2023 Interest 20033AP91 ADS 3.1 02/15/24 02/15/2024 - - 652.95 - - 06/15/2023 Interest 32114VCH8 FNBMIC 4.6 03/15/28 03/15/2028 - - 968.90 - - 06/16/2023 Maturity 3134GVQ68 FHLMC 0 3/8 06/16/23 06/16/2023 - 2,000,000.00 - - - 06/16/2023 Interest 3134GVQ68 FHLMC 0 3/8 06/16/23 06/16/2023 - - 3,750.00 - - 06/20/2023 Interest 062119BK7 FBFCEN 4.65 03/20/28 03/20/2028 - - 979.43 - - 06/20/2023 Purchase 63873KZ42 NATIXIS NY 12/04/2023 -1,217,991.67 - - - - 06/26/2023 Interest 05465DAK4 BOFI 1.65 03/26/24 03/26/2024 - - 347.54 - - 06/26/2023 Interest 90348JEV8 UBS 3.45 10/24/23 10/24/2023 - - 726.67 - - 06/27/2023 Interest 29278TLY4 CMS 2 09/27/23 09/27/2023 - - 421.26 - - 06/28/2023 Interest 17312QN96 C 3.3 06/28/23 06/28/2023 - - 4,080.79 - - 06/28/2023 Maturity 17312QN96 C 3.3 06/28/23 06/28/2023 - 248,000.00 - - - 06/30/2023 Interest 910286GB3 FFED 5 03/30/26 03/30/2026 - - 1,053.15 - - Grand Total: -2,987,053.55 2,248,000.00 57,901.90 0.00 0.00 Run Date: 7/10/2023 - 6:02 PM
Amortizing
29 5.1.b
Packet Pg. 37
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, 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: 7/10/2023 - 6:03 PM
Amortizing
30 5.1.b
Packet Pg. 38
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Quarterly Economic and Market Update
June 2023

5.1.b
Packet Pg. 39
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, 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* -2.0% 2.6% (4.6%)
Consumer Confidence 102.3 102.9 (0.6)
Gold (per ounce) $1,919.35 $1,969.28 ($49.93)
Dollar Index 102.91 102.51 0.41
U.S. Avg Regular Unleaded $3.54 $3.50 $0.03
Retail Sales YOY* 1.1% 2.2% (1.1%)
S&P 500 4,450 4,109 8.3%
Consumer Price Index YOY* 2.7% 5.0% (2.3%)
1-5 Yr A-AAA Corporate Spread 0.62% 0.76% (0.14%)
Dow Jones 34,408 33,274 3.4%
30 Year Mortgage Rate 7.15% 5.83% 1.32%
1-5 Yr Agency Spread 0.07% 0.10% (0.03%)
10 Year T-Note 3.84% 3.47% 0.37%
U.S. Fed Debt Avg Yield* 2.78% 2.58% 0.20%
3 Year T-Note 4.53% 3.79% 0.74%
5 Year T-Note 4.16% 3.58% 0.58%
2 Year T-Note 4.90% 4.03% 0.87%
3 Month T-Bill 5.30% 4.75% 0.55%
Labor Force Participation 62.6% 62.6% 0.0%
Effective Fed Funds Rate 5.08% 4.83% 0.25%
U.S. Payrolls Monthly Change 209,000 217,000 (8,000)
Unemployment Rate 3.6% 3.5% 0.1%
6/30/2023
Item 6/30/2023 3/31/2023 Change
2 5.1.b
Packet Pg. 40
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
Estimate: Bloomberg's Survey of Economists
As of: 6/30/2023
6/30/2023

4.7 1.8

3.3 2.3

1.3 0.6

2.4 1.2

2.4 2.0

1.7 2.0

3.4 4.1

2.82.8 2.9

0.7 2.2

2.7 3.6

1.8 -4.6
-29.9

35.3 3.9

6.3 7.0

2.7 7.0
-1.6
-0.6

3.2 2.6

2.0 1.2

0.0 -0.5

0.7 -40
-30
-20
-10
0 10
20 30
40 Q3 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 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024 Percent
U.S. GDP (Quarter over Quarter Annualized)*
Estimates
3 5.1.b
Packet Pg. 41
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
6/30/2023
Estimate: Bloomberg's Survey of Economists
As of: 6/30/2023

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 2.2

2.9 2.3
-2.8

5.9 2.1

1.3 -10
-9
-8
-7
-6
-5
-4
-3
-2
-1
0 1
2 3
4 5
6 7
8 9
10 1950195219541956195819601962196419661968197019721974197619781980198219841986198819901992199419961998200020022004200620082010201220142016201820202022 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.b
Packet Pg. 42
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: Bureau of Labor Statistics
12 Month Average Job Change 316,000
6/30/2023
-25.0
-20.0
-15.0
-10.0
-5.0

0.0 5.0
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
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Jun-23
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
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
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Jun-23
Millions
U.S. Monthly Non-Farm Payrolls YOY Change
5 5.1.b
Packet Pg. 43
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: Bureau of Labor Statistics
6/30/2023
27 12
17 22
27 32
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
Feb-22
Apr-22
Jun-22
Aug-22
Oct-22
Dec-22
Feb-23
Apr-23
Jun-23
Percent
Unemployment Rates
U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 6 5.1.b
Packet Pg. 44
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: Bureau of Labor Statistics
6/30/2023
128
130
132
134
136
138
140
142
144
146
148
150
152
154
156
158
Jun-13
Jan-14
Aug-14
Mar-15
Oct-15
May-16
Dec-16
Jul-17
Feb-18Sep-18
Apr-19
Nov-19
Jun-20
Jan-21
Aug-21
Mar-22
Oct-22
May-23
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 Jun-13
Jan-14
Aug-14
Mar-15
Oct-15
May-16
Dec-16
Jul-17
Feb-18Sep-18
Apr-19
Nov-19
Jun-20
Jan-21
Aug-21
Mar-22
Oct-22
May-23
Percent
U.S. Labor Force Participation Rate
7 5.1.b
Packet Pg. 45
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: Department of Labor and Bloomberg
6/30/2023
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 1.0

2.0 3.0

4.0 5.0

6.0 199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022 Millions
Weekly Initial Jobless Claims
(4 Week Moving Average)
8 5.1.b
Packet Pg. 46
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
*Real: Inflation Adjusted
Source: U.S. Census Bureau Source: Conference Board
6/30/2023
-30
-20
-10
0 10
20 30
40 50
60 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
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Percent
U.S. Real* Retail Sales YOY % Change
40 50
60 70
80 90
100
110
120
130
140
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
Jun-22
Dec-22
Jun-23
Index Value
U.S. Consumer Confidence
9 5.1.b
Packet Pg. 47
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, 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 6/30/2023

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0

8.0 9.0

10.0 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
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Percent
CPI and CPIX YOY % Change

CPI CPIX

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0

8.0 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
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Percent
PCE and PCEC YOY % Change

PCE PCEC
10 5.1.b
Packet Pg. 48
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate
6/30/2023
-4
-2
0 2
4 6
8 10
12 14
16 18
20 22
24 Jan-15
Jun-15
Nov-15
Apr-16
Sep-16Feb-17
Jul-17
Dec-17
May-18
Oct-18
Mar-19
Aug-19
Jan-20
Jun-20
Nov-20
Apr-21
Sep-21Feb-22
Jul-22
Dec-22
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 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
Jun-22
Dec-22
New-Thousands
Existing-Millions
U.S. New and Existing Home Sales
Existing-Left
New-Right
11 5.1.b
Packet Pg. 49
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: U.S. Treasury
6/30/2023
$12
$13
$14
$15
$16
$17
$18
$19
$20
$21
$22
$23
$24
$25
$26
$27
$28
$29
$30
$31
$32
$33
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
Jun-22
Dec-22
Trillions
U.S. Federal Debt Outstanding

1.3 1.5

1.7 1.9

2.1 2.3

2.5 2.7

2.9 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
Jun-22
Dec-22
Percent
U.S. Treasury Interest Bearing Debt Avg Rate
12 5.1.b
Packet Pg. 50
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Fed Funds Anticipated Rate from the September 21, 2022 FOMC Meeting Source: Bloomberg
6/30/2023

2.00 2.50

3.00 3.50

4.00 4.50

5.00 5.50

6.00 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
Jan-2025
Feb-2025
Mar-2025
Apr-2025
May-2025
Jun-2025
Jul-2025
Aug-2025
Sep-2025
Oct-2025
Nov-2025
Dec-2025
Jan-2026
Feb-2026
Mar-2026
Apr-2026
May-2026
Jun-2026
Jul-2026
Percent
Fed Funds Futures Fed's Anticipated Rates
Fed Funds Futures
13 5.1.b
Packet Pg. 51
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: Bloomberg
Figures may not total due to rounding
6/30/2023
3Y 4.53 3.79 0.74
30Y 3.86 3.65 0.21
5Y 4.16 3.58 0.58
10Y

5.30 3.84 3.47 0.37
6/30/23 3/31/23 Change
3M
Maturity
2Y 4.90 4.03 0.87
1Y 5.42 4.62 0.80
6M 5.43 4.88 0.55

4.75 0.55

3.0 3.5

4.0 4.5

5.0 5.5

6.0 3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y
Percent
U.S. Treasury Yield Curve Change
6/30/23
3/31/23
0 10
20 30
40 50
60 70
80 90
100
3M6M
1Y2Y
3Yr
5Y
10Y30Y
Basis Points
Basis Point Change
14 5.1.b
Packet Pg. 52
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: Bloomberg
6/30/2023

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

3.50 3.75

4.00 4.25

4.50 4.75

5.00 5.25

5.50 5.75
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
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Jun-23
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

3.50 3.75

4.00 4.25

4.50 4.75

5.00 5.25
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
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Jun-23
Percent
U.S. Treasury Yields: 2Y and 5Y
5Y
2Y
15 5.1.b
Packet Pg. 53
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: Bloomberg
6/30/2023
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.b
Packet Pg. 54
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: Bloomberg
6/30/2023
Global Treasury Rates
2 Year Yields 5 Year Yields 10 Year Yields
-0.07%

1.20%

2.99%

3.19%

3.36%

3.47%

3.88%

4.22%

4.58%

4.90%
-2.0% 0.0% 2.0% 4.0%
Japan
Switzlnd
Portugal
Germany
France
Spain
Italy
Australia
Canada
USA
England

0.06%

0.97%

2.55%

2.91%

2.94%

3.24%

3.68%

3.74%

3.95%

4.16%

4.65%
-1.0% 1.0% 3.0% 5.0%
Japan
Switzlnd
Germany
France
Portugal
Spain
Canada
Italy
Australia
USA
England

0.39%

0.92%

2.39%

2.93%

3.11%

3.27%

3.38%

3.84%

4.02%

4.07%

4.38%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0%
Japan
Switzlnd
Germany
France
Portugal
Canada
Spain
USA
Australia
Italy
England
17 5.1.b
Packet Pg. 55
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, 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
6/30/2023
Current Spread is 7 Current Spread is 62
-20
0 20
40 May-09May-10May-11May-12May-13May-14May-15May-16May-17May-18May-19May-20May-21May-22May-23 Basis Points
Spread: 1-5Yr Agency vs Treasury
0 50
100
150
200
250
300
350
May-09May-10May-11May-12May-13May-14May-15May-16May-17May-18May-19May-20May-21May-22May-23 Basis Points
Spread: 1-5Yr A-AAA Corporate vs Treasury
18 5.1.b
Packet Pg. 56
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, 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
6/30/2023
Current Spread is 84 Current Spread is 109
0 50
100
150
200
250
300
May-09May-10May-11May-12May-13May-14May-15May-16May-17May-18May-19May-20May-21May-22May-23 Basis Points
Spread: AAA Asset Backed vs Treasury
-150
-100
-50
0 50
100
150
May-09May-10May-11May-12May-13May-14May-15May-16May-17May-18May-19May-20May-21May-22May-23 Basis Points
Spread: 0-3Yr Agency CMO vs Treasury
19 5.1.b
Packet Pg. 57
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: Bloomberg
6/30/2023
-4.3
-3.2
-2.6
-2.5
-1.9
-1.5
-0.9
-0.6

0.0 0.8 0.8 1.1 1.3 1.7 1.8

3.2 3.4 3.9

4.8 4.8

8.7 15.3
(10)
(5) 05
10 15
20 Percent
Selected Sector Monthly Total Returns
20 5.1.b
Packet Pg. 58
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Source: Bloomberg
6/30/2023
-20.9
-12.2
-7.8
-4.0
-3.3
-1.5
-1.0

0.0 1.2 1.9 2.4 3.4

6.1 6.6 8.2 9.6 9.9

14.0 17.6 18.6 19.4

32.7 (30)
(20)
(10) 0
10 20
30 40
Percent
Selected Sector Year-Over-Year Total Returns
21 5.1.b
Packet Pg. 59
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Sources: Bloomberg, FHN Main Street
6/30/2023

3.20 3.40

3.60 3.80

4.00 4.20
3/31/23
4/3/234/6/234/9/23
4/12/234/15/234/18/234/21/234/24/234/27/234/30/23
5/3/235/6/235/9/23
5/12/235/15/235/18/235/21/235/24/235/27/235/30/23
6/2/236/5/236/8/23
6/11/236/14/236/17/236/20/236/23/236/26/236/29/23
Percent
5 Year Treasury Note Yield
Debt Ceiling Negotiations
Stall In Washington, And Fed
Still Deciding Whether More
Rate Hikes Will Be
Appropriate
Q1 GDP Revised To
+2.0% On Stronger
Service Spending Fed Skips Rate Hike, But
Sets Hawkish Tone For
Future Rate Hikes
Possibility of Further Federal
Reserve Tightening Lifts
Treasury Yields
May Unemployment
Rate Rises To 3.7%
News Of Debt Ceiling
Deal In Congress
Eases Fears Of US
Default
Unemployment Rate
Falls To 3.5% From

3.6%, Undershooting
Estimates
Fed Raises
Rates By

0.25%
CPI YoY At 5%, Falling
Below 5.1% Estimates
First Republic Bank Reports
Disappointing Earnings,
Rekindling Banking Crisis
Worries
22 5.1.b
Packet Pg. 60
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Economic and Market Update
Sources: Bloomberg, FHN Financial, FHN Main Street
6/30/2023
32,600
32,800
33,000
33,200
33,400
33,600
33,800
34,000
34,200
34,400
34,600
3/31/23
4/3/234/6/234/9/23
4/12/234/15/234/18/234/21/234/24/234/27/234/30/23
5/3/235/6/235/9/23
5/12/235/15/235/18/235/21/235/24/235/27/235/30/23
6/2/236/5/236/8/23
6/11/236/14/236/17/236/20/236/23/236/26/236/29/23
Dow Jones Industrial Average
Powell Still
Sees More
Rate Hikes In
2023
Tech Stocks
Surge On AI
Fed Skips June Rate
Hike, Says Decisions
Will Be "Meeting By
Meeting"
President Biden Signs Bill
Suspending US Debt Limit
Fed Reserve Governor Jefferson Says
That If Central Bank Opts To Skip June
Hike, It Doesn't Mean The Fed Is Done
Hiking Rates
Walmart First Quarter Earnings
Beat Forecasts And Kevin
McCarthy Is Optimistic That
Both Sides Will Reach Debt
Ceiling Deal
Home Depot Reports
Disappointing Earnings As
Investors Weigh Debt Ceiling
Concerns
Strong April US Employment
Report Eases Concerns Over
Looming Economic Recession
Fed Raises
Rates By

0.25%
Strong Tech Earnings Drive
Stocks Higher Regardless Of
First Republic Bank Concerns
Concerns About
Strength Of Regional
Banks Overshadow
Strong Tech Earnings
Jamie Dimon Warns
That US Banking Crisis
Isn't Over; US Job
Openings Fall Below
10M
Better Than
Expected May
Durable Goods
Orders And New
Home Sales
23 5.1.b
Packet Pg. 61
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, 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.b
Packet Pg. 62
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, City of San Ramon
Investment Report - Supplementary Information
Investments Held by Trustees at June 30, 2023
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 1,880,391.75 1,880,390.75 2010 POB Wells Fargo Money Market 540.61 540.61 2010 POB
Wells Fargo Money Market 102,015.53 102,015.53 2010 POB Wells Fargo Money Market 423.96 423.96 2010 POB
Dreyfus Govt Cash Mgmt X9USDYRUT 4.90% n/a 327,127.57 327,127.57 2019 COP $ 2,310,501.16 $ 2,310,500.16

5.1.c
Packet Pg. 63
Attachment: C: Investments Held by Trustees at June 30, 2023 (4066 : 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. 64
Attachment: D: Investment Terminology (4066 : Quarterly Investment Report)