City Council Finance Committee
January 16, 2024

City of San Ramon

FINANCE COMMITTEE
AGENDA
Scott Perkins, Chair • Sridhar Verose, Vice Chair
City Hall - Training Room, First Floor
7000 Bollinger Canyon Road
Regular Meeting
4:00 PM
January 16, 2024
AGENDA QUESTIONS:

PLEASE CALL THE ADMINISTRATIVE SERVICES DIRECTOR AT (925) 973-2576

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.

3. APPROVAL OF MINUTES

3.1 Finance Committee - Regular Meeting - December 11, 2023

4. UNFINISHED BUSINESS

5. NEW BUSINESS

5.1 Wavier of Plan Review, Permit, and Development Fees for the San Ramon Valley Fire Protection District Training Facility.

Staff Report by Vance Phillips, Chief Building Official

5.2 City of San Ramon Quarterly Investment Report (Period Ending December 31, 2023) Staff Report by Miaoxia Joe, Finance Analyst

6. COMMITTEE MEMBER COMMENTS

7. ADJOURNMENT
The next Finance Committee Meeting is scheduled for February 5, 2024.

I hereby certify that the 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: January 12, 2024
2 Finance Committee Meeting – January 16, 2024

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.

While the City of San Ramon ensures the First Amendment rights of its citizens, we do not accept nor endorse any offensive or hateful comments made during our meetings. The City of San Ramon celebrates the diversity of our community, and we strive to be a welcoming and open community for all.

MINUTES OF THE

CITY OF SAN RAMON FINANCE COMMITTEE
December 11, 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
Robin Bartlett, Public Works Division Manager
Jon Bell, Public Services Division Manager
Debbie Chamberlain, Community Development Director
Mike Dodds, Facilities and Aquatics Program Manager
Deborah Fehr, Public Works Senior Traffic Engineer
Maria Fierner, Public Works Director
Jonette Fuentes, Public Services Administrative Analyst Nicki MacPherson, Accounting Specialist
Gary Manuel, Landscape Program Manager
Adolfo Navarro, Accounting Specialist
Brent Scoggs, Parks Maintenance Program Manager
Kelly Sessions, Administrative Services Director
Steven Spedowfski, City Manager
John Wall, Director of Planning for the Contra Costa Transportation Authority

2. PUBLIC COMMENT
No public comment.

3. APPROVAL OF MINUTES

3.1 Finance Committee - Regular Meeting - Nov 6, 2023 1:15 PM RESULT: ACCEPTED [UNANIMOUS]
AYES: Armstrong, Perkins

4. UNFINISHED BUSINESS

5. NEW BUSINESS

5.1 Recommendation to the City Council Authorizing a Loan from the General Fund of $701,000 to the Affordable Housing Trust Fund (Fund 371), and Payment to Standard Aspen Wood Venture LP in the Amount of $4,948,387.13 from the Affordable Housing Trust Fund (Fund 371).

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

3.1 Packet Pg. 3
Minutes Acceptance: Minutes of Dec 11, 2023 4:00 PM (APPROVAL OF MINUTES) 2 Finance Committee Meeting – December 11, 2023
RESULT: APPROVED [UNANIMOUS]
AYES: Armstrong, Perkins
Report by Debbie Chamberlain, Community Development Director

5.2 Capital Improvement Program (CIP) – FY 2022/23 Completed Project Budget Analysis
The Finance Committee accepted the report.

RESULT: ACCEPTED
Report by Amy Amiri, Senior CIP Administrative Analyst

5.3 Draft San Ramon Traffic Impact Fee Update
The Finance Committee accepted the report and recommended forwarding to the City Council for approval.

RESULT: APPROVED [UNANIMOUS]
AYES: Armstrong, Perkins
Staff Report by Deborah Fehr, Senior Civil Engineer

5.4 Contra Costa Transportation Authority Countywide SMART Signals Project Funding Agreement and Allocation to Cover Matching Fund Requirements for the One Bay Area, Cycle 3 Program Grant Award
The Finance Committee accepted the report and recommended forwarding to the City Council for approval.

RESULT: APPROVED [UNANIMOUS]
AYES: Armstrong, Perkins
Staff Report by Deborah Fehr, Senior Civil Engineer

6. COMMITTEE MEMBER COMMENTS
Committee members had nothing additional to report.

7. ADJOURNMENT
The meeting adjourned at 5:32 pm. The next Finance Committee Meeting is scheduled for January 16, 2024

3.1 Packet Pg. 4
Minutes Acceptance: Minutes of Dec 11, 2023 4:00 PM (APPROVAL OF MINUTES)

FINANCE COMMITTEE STAFF REPORT
DATE: January 16, 2024
TO: Finance Committee/City Manager
FROM: Debbie Chamberlain, Community Development Director By: Vance Phillips, Chief Building Official
SUBJECT: Wavier of Plan Review, Permit, and Development Fees for the San Ramon Valley Fire Protection District Training Facility.

RECOMMENDED ACTION
Staff recommends that the Finance Committee review the staff report proposing to waive plan review, permit, and development fees for the San Ramon Valley Fire Protection District training facility and forward a recommendation to the City Council.

BACKGROUND/DISCUSSION
The San Ramon Valley Fire Protection District and the City of San Ramon jointly completed the San Ramon Public Safety facility that included building a new Emergency Operations Center and remodel of the existing building at 2401 Crow Canyon Road for Police and Fire administrative services.

The permit and development fees related to the construction of the San Ramon Public Safety facility were included as part of the City’s contribution the project development.

The next phase of construction for the Fire District is improvements to develop the Fire District Training Facility located at 1500 Bollinger Canyon Road. The scope of work for the Fire District Training Facility includes removal of the existing headquarters building and a portion of the parking lot to build the training center. Training facilities will include a four-story training tower, a classroom building with apparatus bays, additional training props and a pump house building.

Fire station 38 will remain unchanged and operational during this phase of construction.

The fees proposed to be waived for the fire district training facility total $547,340. In addition to these fees there may be fees related to field revisions that occur after permits are issued resulting from unknown conditions found on the site or design changes during construction. The amount of fees related to field revisions is unknown and will be the responsibility of the Fire District.

The San Ramon Municipal Code does not give guidance on the process to waive or reduce development or permit fees.

5.1 Packet Pg. 5
Staff recommends that the Finance Committee forward the recommendation to the City Council to waive the plan review, permit, and development fees related to the construction of the San Ramon Valley Fire Protection District training facility.

FISCAL ANALYSIS
The plan review, permit, and development fees proposed to be waived total $547,340 which would normally accrue to the General Fund. The work required to perform these services can be absorbed into the Building Division’s operating budget during construction of the training facility over the current and next fiscal year.

STEPS FOLLOWING APPROVAL
Forward the proposal to the City Council for consideration.

5.1 Packet Pg. 6

FINANCE COMMITTEE STAFF REPORT
DATE: January 16, 2024
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, 2023)

RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the Quarterly Investment Report for the period ending December 31, 2023 and forward to the City Council for review.

BACKGROUND/DISCUSSION
State law requires that City Council review the City Investment Report at least quarterly. Copies of the Investment Report prepared by Meeder Public Funds, formerly known as FHN FinancialMain Street Advisors (FHN Financial), for the period ending December 31, 2023, the Investments Held by Trustees, and the Summary of Cash and Investments are attached for your review.

The December 31, 2023 Investment Report was prepared by Meeder Public Funds. 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 (GAAP). 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 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 totaled $18.1 million as of December 31, 2023. This account is used for the daily City operations.

Total funds managed by Meeder Public Funds equaled $70.6 million at book value as of

5.2 Packet Pg. 7
December 31, 2023. The portfolio consists of $25.2 million in federal agency securities, $27.7 million in treasury securities, $3.1 million in supranationals, $5.7 million in corporate notes, $4.0 million in FDIC insured CD’s, and $4.9 million in commercial paper. The weighted average yield to maturity on investments is 2.66% and the weighted average days to maturity is 692 days, which is 117 days longer than last quarter. Interest rates are 12 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, Meeder Public Funds 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 totals $3.4 million and makes up 4.6 % of the portfolio as of December 31, 2023. The current rate is 5.24%. 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 3.93% and makes up 0.8% 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 by the trustee total $3.5 million. The 2019 Certificates of Participation (COP) investments managed by Meeder Public Funds total $0.3 million and are available for designated capital projects. The remaining $3.2 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. Meeder Public Funds 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 January 23, 2024, City Council meeting.

ATTACHMENT

5.2 Packet Pg. 8
A: Summary of Cash and Investments at December 31, 2023 B: Investment Portfolio Information for City of San Ramon for the Month Ending December 31, 2023
C: Quarterly Economic and Market Update at December 31, 2023 D: Investments Held by Trustees at December 31, 2023
E: Investment Terminology

5.2 Packet Pg. 9
Demand deposits held with JP Morgan Chase Bank $ 18,106,464 Investment Portfolio:

Investments held with US Bank (Meeder Public Funds, formerly Known as FHN Financial) 70,566,700 Fidelity US Government Money Market Funds held with US Bank 3,426,507 Investments held with Local Agency Investment Fund (LAIF) 628,739 Total Investment Portfolio 74,621,946

Investments held with Trustee 3,545,170
Total Cash and Investments $ 96,273,580
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 Joe, Finance Analyst
Approved by:

Kelly Sessions, Administrative Services Director
Summary of Cash and Investments
For the Period December 31, 2023

5.2.a
Packet Pg. 10
Attachment: A: Summary of Cash and Investments at December 31, 2023 (4219 : Quarterly Investment Report) Monthly Investment Report
City of San Ramon
December 2023
10655 Park Run Drive, Suite 120 | Las Vegas, NV 89144 | Phone 702.575.6600 | www.meederpublicfunds.com

5.2.b
Packet Pg. 11
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 2
Portfolio Summary
City of San Ramon 12/31/2023

SECTOR ALLOCATION MATURITY DISTRIBUTION CREDIT QUALITY (MOODY'S)

ACCOUNT SUMMARY MONTH-END PORTFOLIO BOOK YIELD TOP ISSUERS 12/31/23 11/30/23 Issuer % Portfolio
Market Value $72,787,241 $77,010,229 U.S. Treasury 37.1% Book Value $74,621,946 $79,539,955 FFCB 13.5%
Variance -$1,834,706 -$2,529,725 FHLB 12.3%
Fidelity Govt MMF 4.6%
Par Value $75,163,247 $80,038,594 IBRD 2.7%
TVA 2.7%
Net Asset Value $97.54 $96.82 FNMA 2.7%
FHLMC 2.7%
Book Yield 2.66% 2.80% Mizuho Bank 1.7%
Credit Agricole 1.7%
Market Yield 4.57% 4.91% MUFG Bank 1.7%
ING US Funding 1.6%
Years to Maturity 1.90 1.74 MetLife 1.5%
IFC 1.4%
Effective Duration 1.77 1.63 Bank of New York Mellon 1.4% Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23

1.00%

1.50%

2.00%

2.50%

3.00%

0.8%

4.2%

4.6%

5.3%

6.6%

7.6%

33.8%

37.1%
LAIF
SUPRA
MMF
CD
CP
CORP
AGY
TSY
0% 25% 50% 75% 100%

35.1%

24.8%

18.9%

12.9%

8.2%
0-1Y 1-2Y 2-3Y 3-4Y 4-5Y+
0%
10%
20%
30%
40%
50%
60%

6.2%

0.7%

2.7%

1.5%

79.7%

9.3%
NR
A3
A2
A1
Aa3
Aa2
Aa1
Aaa
P-1
0% 25% 50% 75% 100%
2 5.2.b
Packet Pg. 12
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 3
Investment Policy Compliance
City of San Ramon 12/31/2023
Category Book Value % of Portfolio % Allowed by Policy In Compliance Reserved row US Treasuries 27,680,045.26 37.09% 100% Yes
US Federal Agencies 25,225,255.55 33.80% 100% Yes
Supranational Obligations 3,102,963.13 4.16% 30% Yes
LAIF 628,738.93 0.84% 15% Yes
Commercial Paper 4,929,751.71 6.61% 25% Yes
Money Market Funds 3,426,507.57 4.59% 20% Yes
Negotiable Certificates of Deposit 3,964,666.39 5.31% 30% Yes Corporate Obligations 5,664,017.90 7.59% 30% Yes
State and Local Governments 0.00 0.00% 3% Yes
Total 74,621,946.43 100.00%
Other Metrics Portfolio Metric In Compliance
Weighted Average Maturity 1.90 Less than 2.5 Years Yes
Liquidity 35.11% 30% Under 365 Days Yes
Ratings Yes
3 5.2.b
Packet Pg. 13
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 4
Historical Book Values
City of San Ramon 12/31/2023
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
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 Fiscal Year 2024 $81.7 $80.8 $78.9 $79.1 $79.4 $76.0 FY24 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
Jul-23
Nov-23
$50
$60
$70
$80
$90
Millions
4 5.2.b
Packet Pg. 14
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 5
Historical Book Values Per Fiscal Year
City of San Ramon 12/31/2023
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
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 Fiscal Year 2024 $81.7 $80.8 $78.9 $79.1 $79.4 $76.0 FY24 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 2020 Fiscal Year 2021 Fiscal Year 2022 Fiscal Year 2023 Fiscal Year 2024 5 5.2.b
Packet Pg. 15
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 6
Historical Weighted Average Maturity
City of San Ramon 12/31/2023 Don
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
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 Fiscal Year 2024 1.68 1.65 1.58 1.60 1.74 1.90 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
Jul-23
Nov-23

0.00 0.50

1.00 1.50

2.00 2.50
Average Years To Maturity
6 5.2.b
Packet Pg. 16
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 7
Next Twelve Months Cash Flow
City of San Ramon 12/31/2023
Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Maturities $7.3 $1.7 $0.2 $1.3 $2.0 $1.0 $1.3 $2.0 $2.2 $4.1 $3.0 $0.0 1 Par Value in Millions; Assumes Securities Are Held To Maturity $7.3
$1.7
$0.2
$1.3
$2.0
$1.0
$1.3
$2.0
$2.2
$4.1
$3.0
$0.0
Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 $0
$1
$2
$3
$4
$5
$6
$7
$8
Millions
7 5.2.b
Packet Pg. 17
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 8
Yield At Cost Per 6-Month Maturity Intervals
City of San Ramon 12/31/2023
Years Yield At Cost % of Portfolio
0 to .5 4.21% 18.11%
.5 to 1.0 1.65% 17.01%

1.0 to 1.5 1.33% 10.05%

1.5 to 2.0 0.79% 14.78%

2.0 to 2.5 2.32% 6.27%

2.5 to 3.0 2.49% 12.64%

3.0 to 3.5 3.26% 3.90%

3.5 to 4.0 4.30% 9.05%

4.0 to 4.5 4.91% 2.88%

4.5 to 5.0 4.75% 5.32%

5.0+ 0.00% 0.00%
Total 2.66% 100.0%

4.21%

1.65%

1.33%

0.79%

2.32%

2.49%

3.26%

4.30%

4.91% 4.75%
-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 5.2.b
Packet Pg. 18
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 9
Historical Sector Allocation
City of San Ramon 12/31/2023
Sector Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 TSY 29.6% 30.7% 30.6% 30.6% 32.9% 35.0% 40.0% 41.5% 38.9% 38.7% 37.3% 37.1% AGY 40.9% 43.2% 40.7% 40.6% 38.1% 35.6% 33.1% 31.7% 31.7% 32.7% 33.0% 33.8% CORP 7.8% 6.9% 5.6% 5.6% 5.6% 5.6% 5.6% 4.5% 4.5% 4.5% 4.5% 7.6% CP 6.5% 6.9% 8.2% 8.2% 8.2% 9.7% 8.5% 10.4% 6.0% 6.2% 6.2% 6.6% CD 3.5% 3.1% 4.9% 4.9% 4.9% 4.6% 4.5% 4.7% 4.4% 4.1% 5.0% 5.3% MMF 5.0% 3.4% 4.2% 4.3% 4.6% 3.8% 2.5% 1.2% 8.5% 9.2% 9.4% 4.6% Supra 4.4% 3.8% 3.8% 3.8% 3.8% 3.8% 3.8% 3.9% 3.9% 3.9% 3.9% 4.2% LAIF 0.9% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% Muni 1.4% 1.2% 1.2% 1.2% 1.2% 1.2% 1.2% 1.3% 1.3% 0.0% 0.0% 0.0% 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-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
TSY
AGY
CORP
CP
CD
MMF
Supra
LAIF
Muni
9 5.2.b
Packet Pg. 19
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 10
Issuer Allocation
City of San Ramon 12/31/2023

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%

0.3%

0.7%

0.8%

1.3%

1.3%

1.3%

1.4%

1.4%

1.5%

1.6%

1.7%

1.7%

1.7%

2.7%

2.7%

2.7%

2.7%

4.6%

12.3%

13.5%

37.1%
Wells Fargo
UBS Bank USA
Morgan Stanley Private Bank
CIBC Bank USA
Discover Bank
Bridgewater Bank/Bloomington MN
American Express National Bank
Ally Bank

TIAA FSB
Sallie Mae Bank
United Fidelity Bank FSB
First National Bank of Michigan
First Missouri State Bank
Comenity Capital Bank
Bank Five Nine
Axos Bank
Home Depot
LAIF
Bank of America
New York Life
National Securities Clearing
Bank of New York Mellon
IFC
MetLife
ING US Funding
MUFG Bank
Credit Agricole
Mizuho Bank
FHLMC
FNMA
TVA
IBRD
Fidelity Govt MMF
FHLB
FFCB
U.S. Treasury
0% 5% 10% 15% 20% 25% 30% 35% 40%
10 5.2.b
Packet Pg. 20
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 11
Historical Earnings & Book Return Performance
City of San Ramon 12/31/2023
Fiscal YTD ($K) Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 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 FY 2024 $176.662 $349.586 $506.842 $690.272 $871.345 $1,042.147 Fiscal YTD Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Book Return 2.55% 2.53% 2.50% 2.56% 2.60% 2.61%
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 2022
FY 2023
FY 2024
Fiscal Year-To-Date Book Return
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

1.20%

1.40%

1.60%

1.80%

2.00%

2.20%

2.40%

2.60%

2.80%
11 5.2.b
Packet Pg. 21
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 12
Historical Yield At Cost vs Benchmark
City of San Ramon 12/31/2023
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
Sep-23

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5% Portfolio
Benchmark
Trailing 12 Months: Month End Yield At Cost vs Benchmark Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%
Portfolio
Benchmark
Benchmark: Custom Benchmark (see disclosure)
12 5.2.b
Packet Pg. 22
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Run Date: 1/4/2024 - 4:08 PM
Amortizing Page 13
Investment Activity
City of San Ramon 12/31/2023
Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Positions 54 60 65 65 65 65 65 64 59 58 60 60
Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Purchases 3 6 7 1 1 2 3 1 0 7 6 3
Redemptions 2 0 2 1 1 2 3 2 5 8 4 3
Total 5 6 9 2 2 4 6 3 5 15 10 6
Number of Positions at Month End
Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 50 52
54 56
58 60
62 64
66 Positions
Purchases and Redemptions* (Excluding MMF/LGIP)
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 2
4 6
8 10
Number of Transactions
Purchases
Redemptions
*Redemptions include maturities, calls, and sells
13 5.2.b
Packet Pg. 23
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Portfolio Summary
City of San Ramon December 31, 2023
Investments Par Value Book Value
% of
Portfolio Maturity YTM
Days to
Market Value
Book
Certificates of Deposit 3,968,000.00 3,963,230.96 3,964,666.39 5.31 1,024 4.07 Commercial Paper 5,000,000.00 4,933,775.00 4,929,751.71 6.61 90 5.68 Corporate Bonds 5,737,000.00 5,553,566.75 5,664,017.90 7.59 821 3.26 LAIF 628,738.93 628,738.93 628,738.93 0.84 1 3.93
Money Market Funds 3,426,507.57 3,426,507.57 3,426,507.57 4.59 1 5.24 Supranational Securities 3,095,000.00 2,926,828.50 3,102,963.13 4.16 537 0.46 U.S. Agencies 25,308,000.00 24,559,313.20 25,225,255.55 33.80 797 2.19 U.S. Treasuries 28,000,000.00 26,795,280.00 27,680,045.26 37.09 749 2.13 75,163,246.50 72,787,240.91 74,621,946.43 100.00 692 2.66 Investments
Total Earnings December 31 Month Ending Fiscal Year To Date Current Year 170,802.20 1,042,147.17
Average Daily Balance 76,012,091.56 79,340,869.72
Book Rate of Return 2.65% 2.61%
Run Date: 1/4/2024 - 4:09 PM
Amortizing
14 5.2.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, 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
20033AP91 Comenity Capital Bank 02/15/2024 248,000.00 02/19/2019 247,427.12 99.73 247,322.96 0.33% NR/NR 0.13

3.100% 3.15% 247,985.54 5.28% 358.07 -662.58 NR 0.13
87270LBU6 TIAA FSB 02/22/2024 248,000.00 02/25/2019 247,427.12 99.64 247,109.68 0.33% NR/NR 0.15

3.000% 3.05% 247,983.34 5.45% 2,690.63 -873.66 NR 0.15
05465DAK4 Axos Bank 03/26/2024 248,000.00 03/26/2020 248,000.00 99.13 245,830.00 0.33% NR/NR 0.24

1.650% 1.65% 248,000.00 5.40% 67.27 -2,170.00 NR 0.24
32100LCB9 First Missouri State Bank 09/13/2024 248,000.00 09/13/2019 248,000.00 97.76 242,439.84 0.33% NR/NR 0.70

1.850% 1.85% 248,000.00 5.14% 1,382.68 -5,560.16 NR 0.69 02589AEN8 American Express National Bank 03/23/2026 248,000.00 03/22/2023 247,752.00 100.40 248,984.56 0.33% NR/NR 2.23

5.000% 5.04% 247,816.20 4.81% 3,431.23 1,168.36 NR 2.06 02007GM42 Ally Bank 03/23/2026 248,000.00 03/23/2023 247,752.00 100.49 249,210.24 0.33% NR/NR 2.23

5.050% 5.09% 247,816.04 4.81% 3,431.23 1,394.20 NR 2.06 910286GB3 United Fidelity Bank FSB 03/30/2026 248,000.00 03/30/2023 248,000.00 100.42 249,041.60 0.33% NR/NR 2.25

5.000% 5.00% 248,000.00 4.80% 67.95 1,041.60 NR 2.08
795451AK9 Sallie Mae Bank 08/11/2026 248,000.00 08/11/2021 248,000.00 90.86 225,320.40 0.33% NR/NR 2.61

1.100% 1.10% 248,000.00 4.87% 1,068.78 -22,679.60 NR 2.56 108622PJ4 Bridgewater Bank/Bloomington MN 11/03/2026 248,000.00 11/06/2023 247,628.00 100.57 249,408.64 0.33% NR/NR 2.84

5.100% 5.15% 247,646.72 4.88% 1,004.91 1,761.92 NR 2.60 32114VCH8 First National Bank of Michigan 03/15/2028 248,000.00 03/15/2023 248,000.00 99.89 247,729.68 0.33% NR/NR 4.21

4.600% 4.60% 248,000.00 4.63% 531.33 -270.32 NR 3.74
062119BK7 Bank Five Nine 03/20/2028 248,000.00 03/20/2023 248,000.00 100.10 248,248.00 0.33% NR/NR 4.22

4.650% 4.65% 248,000.00 4.62% 379.13 248.00 NR 3.75
2546732U9 Discover Bank 03/21/2028 248,000.00 03/22/2023 247,456.88 101.44 251,558.80 0.33% NR/NR 4.22

5.000% 5.05% 247,541.35 4.62% 3,431.23 4,017.45 NR 3.72 12547CAX6 CIBC Bank USA 04/13/2028 248,000.00 04/14/2023 247,380.00 99.42 246,559.12 0.33% NR/NR 4.29

4.450% 4.51% 247,468.62 4.60% 2,388.61 -909.50 NR 3.83
949764HK3 Wells Fargo Bank NA 11/07/2028 248,000.00 11/07/2023 247,451.92 102.83 255,028.32 0.33% NR/NR 4.86

5.050% 5.10% 247,468.12 4.40% 857.81 7,560.20 NR 4.23
61768EE82 Morgan Stanley Private Bank 11/08/2028 248,000.00 11/08/2023 247,456.88 102.80 254,939.04 0.33% NR/NR 4.86

5.050% 5.10% 247,472.64 4.40% 1,852.87 7,466.40 NR 4.23 90355GHQ2 UBS Bank USA 11/08/2028 248,000.00 11/08/2023 247,451.92 102.62 254,500.08 0.33% NR/NR 4.86

5.000% 5.05% 247,467.82 4.40% 815.34 7,032.26 NR 4.24
3,963,183.84 3,963,230.96 5.31% 2.80
Total Certificates of Deposit 3,968,000.00 4.07% 3,964,666.39 4.82% 23,759.07 -1,435.43 2.52 Commercial Paper
Run Date: 1/4/2024 - 4:09 PM
Amortizing
15 5.2.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, 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
60689FAW8 Mizuho Bank, NY 01/30/2024 1,250,000.00 10/16/2023 1,229,756.95 99.59 1,244,812.50 1.67% P-1/A-1 0.08

0.000% 5.59% 1,244,355.30 5.07% 0.00 457.20 F1 0.09
22533TB21 Credit Agricole, NY 02/02/2024 1,250,000.00 10/31/2023 1,231,754.86 99.53 1,244,162.50 1.67% P-1/A-1 0.09

0.000% 5.67% 1,243,653.86 5.19% 0.00 508.64 F1+ 0.10
62479LD10 MUFG Bank, NY 04/01/2024 1,250,000.00 12/05/2023 1,227,588.20 98.64 1,233,000.00 1.65% P-1/A-1 0.25

0.000% 5.57% 1,232,611.53 5.49% 0.00 388.47 F1 0.26
45685QGS2 ING US Funding LLC 07/26/2024 1,250,000.00 10/31/2023 1,197,227.43 96.94 1,211,800.00 1.62% P-1/A-1 0.57

0.000% 5.90% 1,209,131.02 5.55% 0.00 2,668.98 NR 0.58
4,886,327.44 4,933,775.00 6.61% 0.25
Total Commercial Paper 5,000,000.00 5.68% 4,929,751.71 5.32% 0.00 4,023.29 0.25 Corporate Bonds
06406RAL1 Bank of New York Mellon 10/24/2024 1,079,000.00 06/28/2022 1,044,137.51 97.34 1,050,266.23 1.43% A1/A 0.82

2.100% 3.56% 1,066,781.45 5.49% 4,217.09 -16,515.22 AA- 0.78 64952WDL4 New York Life 01/22/2025 1,000,000.00 01/22/2020 996,410.00 96.89 968,910.00 1.34% Aaa/AA+ 1.06

2.000% 2.08% 999,240.12 5.05% 8,833.33 -30,330.12 AAA 1.01 437076CM2 Home Depot 04/15/2025 500,000.00 03/28/2022 499,125.00 97.53 487,660.00 0.67% A2/A 1.29

2.700% 2.76% 499,629.90 4.69% 2,850.00 -11,969.90 A 1.22 637639AE5 National Securities Clearing 12/07/2025 1,000,000.00 01/07/2021 1,004,130.00 92.58 925,770.00 1.34% Aaa/AA+ 1.94

0.750% 11/07/2025 0.66% 1,001,624.00 4.82% 500.00 -75,854.00 NR 1.87 06051GGA1 Bank of America 10/21/2027 1,000,000.00 12/08/2023 939,580.00 95.15 951,450.00 1.26% A1/A- 3.81

3.248% 4.98% 940,577.60 4.65% 6,315.56 10,872.40 AA- 3.30 592179KF1 MetLife 01/06/2028 1,158,000.00 12/08/2023 1,156,135.62 100.99 1,169,510.52 1.55% Aa3/AA- 4.02

5.050% 5.09% 1,156,164.83 4.77% 28,427.29 13,345.69 AA- 3.50 5,639,518.13 5,553,566.75 7.59% 2.25
Total Corporate Bonds 5,737,000.00 3.26% 5,664,017.90 4.94% 51,143.27 -110,451.15 2.02 LAIF
9807828 LAIF 01/01/2024 628,738.93 10/13/2023 628,738.93 1.00 628,738.93 0.84% NR/NR 0.00

3.930% 3.93% 628,738.93 3.93% 0.00 0.00 NR 0.00
628,738.93 628,738.93 0.84% 0.00
Total LAIF 628,738.93 3.93% 628,738.93 3.93% 0.00 0.00 0.00 Run Date: 1/4/2024 - 4:09 PM
Amortizing
16 5.2.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, 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
Money Market Funds
FIGXX Fidelity Govt MMF 01/01/2024 3,426,507.57 3,426,507.57 0.00 3,426,507.57 4.59% Aaa/AAA 0.00

5.240% 5.24% 3,426,507.57 5.24% 20,763.37 0.00 NR 0.00
3,426,507.57 3,426,507.57 4.59% 0.00
Total Money Market Funds 3,426,507.57 5.24% 3,426,507.57 5.24% 20,763.37 0.00 0.00 Supranational Securities
45950KCR9 IFC 10/16/2024 1,060,000.00 01/21/2021 1,100,216.40 97.20 1,030,330.60 1.43% Aaa/AAA 0.79

1.375% 0.35% 1,068,551.59 5.01% 3,036.46 -38,220.99 AAA 0.76 459058JL8 IBRD 10/28/2025 2,035,000.00 02/04/2021 2,033,473.75 93.19 1,896,497.90 2.73% Aaa/AAA 1.83

0.500% 0.52% 2,034,411.53 4.42% 1,780.62 -137,913.63 AAA 1.77 3,133,690.15 2,926,828.50 4.16% 1.47
Total Supranational Securities 3,095,000.00 0.46% 3,102,963.13 4.62% 4,817.08 -176,134.62 1.42 U.S. Agencies
3133EKQU3 FFCB 06/13/2024 1,000,000.00 06/20/2019 998,320.00 98.53 985,290.00 1.34% Aaa/AA+ 0.45

1.950% 1.99% 999,848.21 5.26% 975.00 -14,558.21 AAA 0.43 3133EKA63 FFCB 08/16/2024 2,000,000.00 08/16/2019 1,993,680.00 97.91 1,958,200.00 2.68% Aaa/AA+ 0.63

1.600% 1.67% 1,999,210.00 5.04% 12,000.00 -41,010.00 AAA 0.60 3133EKP75 FFCB 09/17/2024 2,000,000.00 09/17/2019 1,997,420.00 97.69 1,953,880.00 2.68% Aaa/AA+ 0.72

1.600% 1.63% 1,999,633.07 4.94% 9,244.44 -45,753.07 AAA 0.69 3133EK4Y9 FFCB 11/01/2024 1,043,000.00 05/07/2020 1,090,612.96 97.29 1,014,682.55 1.41% Aaa/AA+ 0.84

1.650% 0.62% 1,051,849.99 5.01% 2,868.25 -37,167.44 AAA 0.81 3130AQXY4 FHLB 02/28/2025 2,000,000.00 02/28/2022 2,000,000.00 97.38 1,947,660.00 2.68% Aaa/AA+ 1.16

2.000% 01/28/2024 2.00% 2,000,000.00 4.32% 13,666.67 -52,340.00 AAA 1.11 880591EW8 TVA 05/15/2025 2,000,000.00 05/11/2020 2,002,840.00 94.85 1,896,980.00 2.68% Aaa/AA+ 1.37

0.750% 0.72% 2,000,777.69 4.67% 1,916.67 -103,797.69 AAA 1.33 3137EAEX3 FHLMC 09/23/2025 2,000,000.00 10/06/2020 1,991,000.00 93.33 1,866,660.00 2.68% Aaa/AA+ 1.73

0.375% 0.47% 1,996,867.38 4.43% 2,041.67 -130,207.38 AAA 1.68 3135G06G3 FNMA 11/07/2025 2,000,000.00 01/20/2021 2,000,620.00 93.15 1,862,900.00 2.68% Aaa/AA+ 1.85

0.500% 0.49% 2,000,239.10 4.40% 1,500.00 -137,339.10 AAA 1.80 3130AL7M0 FHLB 02/24/2026 2,000,000.00 02/24/2021 2,000,000.00 92.40 1,848,080.00 2.68% Aaa/AA+ 2.15

0.625% 02/24/2024 0.63% 2,000,000.00 4.37% 4,409.72 -151,920.00 AAA 2.08 3133EN7A2 FFCB 10/26/2026 2,000,000.00 02/07/2023 1,972,388.00 98.73 1,974,600.00 2.65% Aaa/AA+ 2.82

3.625% 4.03% 1,979,069.32 4.11% 13,090.28 -4,469.32 AAA 2.61 Run Date: 1/4/2024 - 4:09 PM
Amortizing
17 5.2.b
Packet Pg. 27
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 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
3130AXU63 FHLB 11/17/2026 1,000,000.00 11/17/2023 998,230.00 101.41 1,014,120.00 1.34% Aaa/AA+ 2.88

4.625% 4.69% 998,302.11 4.10% 5,652.78 15,817.89 AAA 2.65 3130AQW66 FHLB 02/25/2027 1,000,000.00 02/25/2022 1,000,000.00 93.70 937,030.00 1.34% Aaa/AA+ 3.16

2.080% 02/25/2024 2.08% 1,000,000.00 4.24% 7,280.00 -62,970.00 AAA 2.88 3130AUSN5 FHLB 10/01/2027 2,000,000.00 02/07/2023 1,967,600.00 98.54 1,970,760.00 2.65% Aaa/AA+ 3.75

3.500% 3.89% 1,973,870.97 3.92% 17,500.00 -3,110.97 AAA 3.42 3130A07B0 FHLB 09/01/2028 1,265,000.00 10/31/2023 1,214,564.45 100.12 1,266,530.65 1.63% Aaa/AA+ 4.67

4.000% 4.94% 1,216,302.61 3.97% 16,866.67 50,228.04 AAA 4.14 3133EPC45 FFCB 11/13/2028 2,000,000.00 11/28/2023 2,009,460.00 103.10 2,061,940.00 2.69% Aaa/AA+ 4.87

4.625% 4.52% 2,009,285.11 3.92% 12,333.33 52,654.89 AAA 4.28 25,236,735.41 24,559,313.20 33.80% 2.18
Total U.S. Agencies 25,308,000.00 2.19% 25,225,255.55 4.43% 121,345.48 -665,942.36 2.02 U.S. Treasuries
912796ZY8 U.S. Treasury 01/25/2024 2,000,000.00 10/31/2023 1,974,594.16 99.66 1,993,260.00 2.67% P-1/A-1+ 0.07

0.000% 5.46% 1,992,527.70 4.94% 0.00 732.30 F1+ 0.07
91282CCC3 U.S. Treasury 05/15/2024 2,000,000.00 08/17/2021 1,993,671.88 98.20 1,964,060.00 2.68% Aaa/AA+ 0.37

0.250% 0.37% 1,999,141.09 5.15% 645.60 -35,081.09 AAA 0.36 912828YM6 U.S. Treasury 10/31/2024 2,000,000.00 04/06/2021 2,067,656.26 97.29 1,945,780.00 2.70% Aaa/AA+ 0.84

1.500% 0.54% 2,015,824.51 4.86% 5,109.89 -70,044.51 AAA 0.81 912828G38 U.S. Treasury 11/15/2024 2,000,000.00 07/23/2021 2,118,750.00 97.76 1,955,240.00 2.72% Aaa/AA+ 0.88

2.250% 0.44% 2,031,379.03 4.90% 5,810.44 -76,139.03 AAA 0.84 912828ZF0 U.S. Treasury 03/31/2025 2,000,000.00 07/23/2021 1,998,359.38 95.08 1,901,640.00 2.68% Aaa/AA+ 1.25

0.500% 0.52% 1,999,444.60 4.60% 2,540.98 -97,804.60 AAA 1.21 91282CAT8 U.S. Treasury 10/31/2025 2,000,000.00 04/06/2021 1,946,875.00 92.89 1,857,740.00 2.65% Aaa/AA+ 1.84

0.250% 0.84% 1,978,673.61 4.33% 851.65 -120,933.61 AAA 1.78 912828M56 U.S. Treasury 11/15/2025 2,000,000.00 02/07/2022 2,041,015.62 96.31 1,926,260.00 2.71% Aaa/AA+ 1.88

2.250% 1.69% 2,020,403.56 4.32% 5,810.44 -94,143.56 AAA 1.79 912828R36 U.S. Treasury 05/15/2026 2,000,000.00 06/07/2022 1,897,500.00 94.35 1,887,040.00 2.60% Aaa/AA+ 2.37

1.625% 3.01% 1,938,271.91 4.15% 4,196.43 -51,231.91 AAA 2.27 91282CCW9 U.S. Treasury 08/31/2026 1,000,000.00 08/31/2021 997,798.42 91.68 916,800.00 1.34% Aaa/AA+ 2.67

0.750% 0.80% 998,825.66 4.08% 2,534.34 -82,025.66 AAA 2.57 91282CCZ2 U.S. Treasury 09/30/2026 1,000,000.00 10/13/2021 990,351.56 91.85 918,480.00 1.33% Aaa/AA+ 2.75

0.875% 1.08% 994,656.90 4.04% 2,223.36 -76,176.90 AAA 2.64 91282CDG3 U.S. Treasury 10/31/2026 2,000,000.00 02/07/2022 1,941,093.76 92.28 1,845,540.00 2.63% Aaa/AA+ 2.84

1.125% 1.78% 1,964,697.18 4.04% 3,832.42 -119,157.18 AAA 2.72 Run Date: 1/4/2024 - 4:09 PM
Amortizing
18 5.2.b
Packet Pg. 28
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Holdings Report
City of San Ramon December 31, 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
912828U24 U.S. Treasury 11/15/2026 2,000,000.00 03/14/2022 2,003,593.76 94.54 1,890,780.00 2.68% Aaa/AA+ 2.88

2.000% 1.96% 2,002,210.57 4.03% 5,164.84 -111,430.57 AAA 2.73 912828X88 U.S. Treasury 05/15/2027 2,000,000.00 02/07/2023 1,882,421.88 94.98 1,899,620.00 2.56% Aaa/AA+ 3.37

2.375% 3.88% 1,907,099.70 3.98% 6,133.24 -7,479.70 AAA 3.16 91282CFU0 U.S. Treasury 10/31/2027 2,000,000.00 02/23/2023 1,992,109.38 100.63 2,012,580.00 2.67% Aaa/AA+ 3.84

4.125% 4.22% 1,993,543.62 3.95% 14,052.20 19,036.38 AAA 3.47 9128283F5 U.S. Treasury 11/15/2027 2,000,000.00 07/07/2023 1,823,750.00 94.02 1,880,460.00 2.47% Aaa/AA+ 3.88

2.250% 4.50% 1,843,345.63 3.93% 5,810.44 37,114.37 AAA 3.62 27,669,541.06 26,795,280.00 37.09% 2.05
Total U.S. Treasuries 28,000,000.00 2.13% 27,680,045.26 4.38% 64,716.27 -884,765.27 1.94 74,584,242.53 72,787,240.91 100.00% 1.90
TOTAL PORTFOLIO 75,163,246.50 2.66% 74,621,946.43 4.57% 286,544.54 -1,834,705.54 1.77 TOTAL MARKET VALUE PLUS ACCRUED INTEREST 73,073,785.45
Run Date: 1/4/2024 - 4:09 PM
Amortizing
19 5.2.b
Packet Pg. 29
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Maturity Report
City of San Ramon December 31, 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 3,426,507.57 5.240% 01/01/2024 3,426,507.57 1 3,426,507.57 5.24% 1 9807828 LAIF 06/16/2021 628,738.93 3.930% 01/01/2024 628,738.93 1 628,738.93 3.93% 1 912796ZY8 U.S. Treasury 10/31/2023 1,992,527.70 0.000% 01/25/2024 2,000,000.00 61 1,993,260.00 5.46% 25 60689FAW8 Mizuho Bank, NY 10/16/2023 1,244,355.30 0.000% 01/30/2024 1,250,000.00 76 1,244,812.50 5.59% 30 22533TB21 Credit Agricole, NY 10/31/2023 1,243,653.86 0.000% 02/02/2024 1,250,000.00 61 1,244,162.50 5.67% 33 20033AP91 Comenity Capital Bank 02/19/2019 247,985.54 3.100% 02/15/2024 248,000.00 1,776 247,322.96 3.15% 46 87270LBU6 TIAA FSB 02/25/2019 247,983.34 3.000% 02/22/2024 248,000.00 1,770 247,109.68 3.05% 53 05465DAK4 Axos Bank 03/26/2020 248,000.00 1.650% 03/26/2024 248,000.00 1,375 245,830.00 1.65% 86 62479LD10 MUFG Bank, NY 12/05/2023 1,232,611.53 0.000% 04/01/2024 1,250,000.00 26 1,233,000.00 5.57% 92 91282CCC3 U.S. Treasury 08/17/2021 1,999,141.09 0.250% 05/15/2024 2,000,000.00 866 1,964,060.00 0.37% 136 3133EKQU3 FFCB 06/20/2019 999,848.21 1.950% 06/13/2024 1,000,000.00 1,655 985,290.00 1.99% 165 45685QGS2 ING US Funding LLC 10/31/2023 1,209,131.02 0.000% 07/26/2024 1,250,000.00 61 1,211,800.00 5.90% 208 3133EKA63 FFCB 08/16/2019 1,999,210.00 1.600% 08/16/2024 2,000,000.00 1,598 1,958,200.00 1.67% 229 32100LCB9 First Missouri State Bank 09/13/2019 248,000.00 1.850% 09/13/2024 248,000.00 1,570 242,439.84 1.85% 257 3133EKP75 FFCB 09/17/2019 1,999,633.07 1.600% 09/17/2024 2,000,000.00 1,566 1,953,880.00 1.63% 261 45950KCR9 IFC 01/21/2021 1,068,551.59 1.375% 10/16/2024 1,060,000.00 1,074 1,030,330.60 0.35% 290 06406RAL1 Bank of New York Mellon 06/28/2022 1,066,781.45 2.100% 10/24/2024 1,079,000.00 551 1,050,266.23 3.56% 298 912828YM6 U.S. Treasury 04/06/2021 2,015,824.51 1.500% 10/31/2024 2,000,000.00 999 1,945,780.00 0.54% 305 3133EK4Y9 FFCB 05/07/2020 1,051,849.99 1.650% 11/01/2024 1,043,000.00 1,333 1,014,682.55 0.62% 306 912828G38 U.S. Treasury 07/23/2021 2,031,379.03 2.250% 11/15/2024 2,000,000.00 891 1,955,240.00 0.44% 320 64952WDL4 New York Life 01/22/2020 999,240.12 2.000% 01/22/2025 1,000,000.00 1,439 968,910.00 2.08% 388 3130AQXY4 FHLB 02/28/2022 2,000,000.00 2.000% 02/28/2025 2,000,000.00 671 1,947,660.00 2.00% 425 912828ZF0 U.S. Treasury 07/23/2021 1,999,444.60 0.500% 03/31/2025 2,000,000.00 891 1,901,640.00 0.52% 456 437076CM2 Home Depot 03/28/2022 499,629.90 2.700% 04/15/2025 500,000.00 643 487,660.00 2.76% 471 880591EW8 TVA 05/11/2020 2,000,777.69 0.750% 05/15/2025 2,000,000.00 1,329 1,896,980.00 0.72% 501 3137EAEX3 FHLMC 10/06/2020 1,996,867.38 0.375% 09/23/2025 2,000,000.00 1,181 1,866,660.00 0.47% 632 459058JL8 IBRD 02/04/2021 2,034,411.53 0.500% 10/28/2025 2,035,000.00 1,060 1,896,497.90 0.52% 667 91282CAT8 U.S. Treasury 04/06/2021 1,978,673.61 0.250% 10/31/2025 2,000,000.00 999 1,857,740.00 0.84% 670 3135G06G3 FNMA 01/20/2021 2,000,239.10 0.500% 11/07/2025 2,000,000.00 1,075 1,862,900.00 0.49% 677 912828M56 U.S. Treasury 02/07/2022 2,020,403.56 2.250% 11/15/2025 2,000,000.00 692 1,926,260.00 1.69% 685 637639AE5 National Securities Clearing 01/07/2021 1,001,624.00 0.750% 12/07/2025 1,000,000.00 1,088 925,770.00 0.66% 707 3130AL7M0 FHLB 02/24/2021 2,000,000.00 0.625% 02/24/2026 2,000,000.00 1,040 1,848,080.00 0.63% 786 02589AEN8 American Express National Bank 03/22/2023 247,816.20 5.000% 03/23/2026 248,000.00 284 248,984.56 5.04% 813 02007GM42 Ally Bank 03/23/2023 247,816.04 5.050% 03/23/2026 248,000.00 283 249,210.24 5.09% 813 910286GB3 United Fidelity Bank FSB 03/30/2023 248,000.00 5.000% 03/30/2026 248,000.00 276 249,041.60 5.00% 820 912828R36 U.S. Treasury 06/07/2022 1,938,271.91 1.625% 05/15/2026 2,000,000.00 572 1,887,040.00 3.01% 866 Run Date: 1/4/2024 - 4:09 PM
Amortizing
20 5.2.b
Packet Pg. 30
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Maturity Report
City of San Ramon December 31, 2023
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
Issuer YTM
Days to
Maturity
Book
795451AK9 Sallie Mae Bank 08/11/2021 248,000.00 1.100% 08/11/2026 248,000.00 872 225,320.40 1.10% 954 91282CCW9 U.S. Treasury 08/31/2021 998,825.66 0.750% 08/31/2026 1,000,000.00 852 916,800.00 0.80% 974 91282CCZ2 U.S. Treasury 10/13/2021 994,656.90 0.875% 09/30/2026 1,000,000.00 809 918,480.00 1.08% 1,004 3133EN7A2 FFCB 02/07/2023 1,979,069.32 3.625% 10/26/2026 2,000,000.00 327 1,974,600.00 4.03% 1,030 91282CDG3 U.S. Treasury 02/07/2022 1,964,697.18 1.125% 10/31/2026 2,000,000.00 692 1,845,540.00 1.78% 1,035 108622PJ4 Bridgewater Bank/Bloomington MN 11/06/2023 247,646.72 5.100% 11/03/2026 248,000.00 55 249,408.64 5.15% 1,038 912828U24 U.S. Treasury 03/14/2022 2,002,210.57 2.000% 11/15/2026 2,000,000.00 657 1,890,780.00 1.96% 1,050 3130AXU63 FHLB 11/17/2023 998,302.11 4.625% 11/17/2026 1,000,000.00 44 1,014,120.00 4.69% 1,052 3130AQW66 FHLB 02/25/2022 1,000,000.00 2.080% 02/25/2027 1,000,000.00 674 937,030.00 2.08% 1,152 912828X88 U.S. Treasury 02/07/2023 1,907,099.70 2.375% 05/15/2027 2,000,000.00 327 1,899,620.00 3.88% 1,231 3130AUSN5 FHLB 02/07/2023 1,973,870.97 3.500% 10/01/2027 2,000,000.00 327 1,970,760.00 3.89% 1,370 06051GGA1 Bank of America 12/08/2023 940,577.60 3.248% 10/21/2027 1,000,000.00 23 951,450.00 4.98% 1,390 91282CFU0 U.S. Treasury 02/23/2023 1,993,543.62 4.125% 10/31/2027 2,000,000.00 311 2,012,580.00 4.22% 1,400 9128283F5 U.S. Treasury 07/07/2023 1,843,345.63 2.250% 11/15/2027 2,000,000.00 177 1,880,460.00 4.50% 1,415 592179KF1 MetLife 12/08/2023 1,156,164.83 5.050% 01/06/2028 1,158,000.00 23 1,169,510.52 5.09% 1,467 32114VCH8 First National Bank of Michigan 03/15/2023 248,000.00 4.600% 03/15/2028 248,000.00 291 247,729.68 4.60% 1,536 062119BK7 Bank Five Nine 03/20/2023 248,000.00 4.650% 03/20/2028 248,000.00 286 248,248.00 4.65% 1,541 2546732U9 Discover Bank 03/22/2023 247,541.35 5.000% 03/21/2028 248,000.00 284 251,558.80 5.05% 1,542 12547CAX6 CIBC Bank USA 04/14/2023 247,468.62 4.450% 04/13/2028 248,000.00 261 246,559.12 4.51% 1,565 3130A07B0 FHLB 10/31/2023 1,216,302.61 4.000% 09/01/2028 1,265,000.00 61 1,266,530.65 4.94% 1,706 949764HK3 Wells Fargo Bank NA 11/07/2023 247,468.12 5.050% 11/07/2028 248,000.00 54 255,028.32 5.10% 1,773 61768EE82 Morgan Stanley Private Bank 11/08/2023 247,472.64 5.050% 11/08/2028 248,000.00 53 254,939.04 5.10% 1,774 90355GHQ2 UBS Bank USA 11/08/2023 247,467.82 5.000% 11/08/2028 248,000.00 53 254,500.08 5.05% 1,774 3133EPC45 FFCB 11/28/2023 2,009,285.11 4.625% 11/13/2028 2,000,000.00 33 2,061,940.00 4.52% 1,779 Net Maturities and Averages 74,621,946.43 75,163,246.50 72,787,240.91 2.66% 692 Run Date: 1/4/2024 - 4:09 PM
Amortizing
21 5.2.b
Packet Pg. 31
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Summary by Issuer
City of San Ramon December 31, 2023
Issuer Investments
Number of Par
Value
Book
Value
% of
Portfolio YTM Maturity
Book Days to
U.S. Treasury 15 28,000,000.00 27,680,045.26 37.09 2.13 749 FFCB 6 10,043,000.00 10,038,895.70 13.45 2.62 705
FHLB 6 9,265,000.00 9,188,475.69 12.31 2.80 1,023
Fidelity Govt MMF 1 3,426,507.57 3,426,507.57 4.59 5.24 1 IBRD 1 2,035,000.00 2,034,411.53 2.73 0.52 667
TVA 1 2,000,000.00 2,000,777.69 2.68 0.72 501
FNMA 1 2,000,000.00 2,000,239.10 2.68 0.49 677
FHLMC 1 2,000,000.00 1,996,867.38 2.68 0.47 632
Mizuho Bank 1 1,250,000.00 1,244,355.30 1.67 5.59 30
Credit Agricole 1 1,250,000.00 1,243,653.86 1.67 5.67 33 MUFG Bank 1 1,250,000.00 1,232,611.53 1.65 5.57 92
ING US Funding 1 1,250,000.00 1,209,131.02 1.62 5.90 208 MetLife 1 1,158,000.00 1,156,164.83 1.55 5.09 1,467
IFC 1 1,060,000.00 1,068,551.59 1.43 0.35 290
Bank of New York Mellon 1 1,079,000.00 1,066,781.45 1.43 3.56 298 National Securities Clearing 1 1,000,000.00 1,001,624.00 1.34 0.66 707 New York Life 1 1,000,000.00 999,240.12 1.34 2.08 388
Bank of America 1 1,000,000.00 940,577.60 1.26 4.98 1,390 LAIF 1 628,738.93 628,738.93 0.84 3.93 1
Home Depot 1 500,000.00 499,629.90 0.67 2.76 471
First Missouri State Bank 1 248,000.00 248,000.00 0.33 1.85 257 First National Bank of Michigan 1 248,000.00 248,000.00 0.33 4.60 1,536 Comenity Capital Bank 1 248,000.00 247,985.54 0.33 3.15 46 Axos Bank 1 248,000.00 248,000.00 0.33 1.65 86
Bank Five Nine 1 248,000.00 248,000.00 0.33 4.65 1,541
Sallie Mae Bank 1 248,000.00 248,000.00 0.33 1.10 954
TIAA FSB 1 248,000.00 247,983.34 0.33 3.05 53
United Fidelity Bank FSB 1 248,000.00 248,000.00 0.33 5.00 820 Ally Bank 1 248,000.00 247,816.04 0.33 5.09 813
American Express National Bank 1 248,000.00 247,816.20 0.33 5.04 813 Bridgewater Bank/Bloomington MN 1 248,000.00 247,646.72 0.33 5.15 1,038 Discover Bank 1 248,000.00 247,541.35 0.33 5.05 1,542
CIBC Bank USA 1 248,000.00 247,468.62 0.33 4.51 1,565
Wells Fargo 1 248,000.00 247,468.12 0.33 5.10 1,773
UBS Bank USA 1 248,000.00 247,467.82 0.33 5.05 1,774
Morgan Stanley Private Bank 1 248,000.00 247,472.64 0.33 5.10 1,774 Run Date: 1/4/2024 - 4:09 PM
Amortizing
22 5.2.b
Packet Pg. 32
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Summary by Issuer
City of San Ramon December 31, 2023
Issuer Investments
Number of Par
Value
Book
Value
% of
Portfolio YTM Maturity
Book Days to
Total and Average 60 75,163,246.50 74,621,946.43 100.00% 2.66 692 Run Date: 1/4/2024 - 4:09 PM
Amortizing
23 5.2.b
Packet Pg. 33
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned Summary
City of San Ramon December 31, 2023
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
39,956.25 652,933.30
286,544.54 286,544.54
-197,733.99 -229,378.33
128,766.80 710,099.51
42,035.40 332,047.66

0.00 0.00
170,802.20 1,042,147.17
Run Date: 1/4/2024 - 4:09 PM
Amortizing
24 5.2.b
Packet Pg. 34
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned
City of San Ramon December 01, 2023 - December 31, 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
20033AP91 Comenity Capital Bank 02/15/2024 248,000.00 247,975.79 247,985.54 337.01 631.89 358.07 652.95 9.75 662.70 87270LBU6 TIAA FSB 02/22/2024 248,000.00 247,973.60 247,983.34 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 02007GM42 Ally Bank 03/23/2026 248,000.00 247,809.02 247,816.04 2,367.55 0.00 3,431.23 1,063.68 7.01 1,070.69 02589AEN8 American Express National Bank 03/23/2026 248,000.00 247,809.20 247,816.20 2,378.08 0.00 3,431.23 1,053.15 7.01 1,060.16 910286GB3 United Fidelity Bank FSB 03/30/2026 248,000.00 248,000.00 248,000.00 33.97 0.00 67.95 33.98 0.00 33.98 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 108622PJ4 Bridgewater Bank/Bloomington MN 11/03/2026 248,000.00 247,636.17 247,646.72 970.26 1,039.56 1,004.91 1,074.21 10.55 1,084.76 32114VCH8 First National Bank of Michigan 03/15/2028 248,000.00 248,000.00 248,000.00 500.08 937.64 531.33 968.89 0.00 968.89 062119BK7 Bank Five Nine 03/20/2028 248,000.00 248,000.00 248,000.00 347.54 947.84 379.13 979.43 0.00 979.43 2546732U9 Discover Bank 03/21/2028 248,000.00 247,532.13 247,541.35 2,378.08 0.00 3,431.23 1,053.15 9.22 1,062.37 12547CAX6 CIBC Bank USA 04/13/2028 248,000.00 247,458.09 247,468.62 1,451.31 0.00 2,388.61 937.30 10.53 947.83 949764HK3 Wells Fargo Bank NA 11/07/2028 248,000.00 247,458.82 247,468.12 823.50 1,029.37 857.81 1,063.68 9.30 1,072.98 90355GHQ2 UBS Bank USA 11/08/2028 248,000.00 247,458.52 247,467.82 781.37 1,019.18 815.34 1,053.15 9.30 1,062.45 61768EE82 Morgan Stanley Private Bank 11/08/2028 248,000.00 247,463.42 247,472.64 789.18 0.00 1,852.87 1,063.69 9.22 1,072.91 Certificates of Deposit - Sub Total 3,968,000.00 3,964,574.76 3,964,666.39 17,102.82 5,941.81 23,759.07 12,598.06 91.62 12,689.68 Commercial Paper
63873KZ42 Natixis, NY 12/04/2023 0.00 1,249,219.31 0.00 0.00 0.00 0.00 0.00 780.69 780.69 60689FAW8 Mizuho Bank, NY 01/30/2024 1,250,000.00 1,238,321.31 1,244,355.30 0.00 0.00 0.00 0.00 6,033.99 6,033.99 22533TB21 Credit Agricole, NY 02/02/2024 1,250,000.00 1,237,704.36 1,243,653.86 0.00 0.00 0.00 0.00 5,949.50 5,949.50 62479LD10 MUFG Bank, NY 04/01/2024 1,250,000.00 0.00 1,232,611.53 0.00 0.00 0.00 0.00 5,023.34 5,023.34 45685QGS2 ING US Funding LLC 07/26/2024 1,250,000.00 1,203,179.22 1,209,131.02 0.00 0.00 0.00 0.00 5,951.79 5,951.79 Commercial Paper - Sub Total 5,000,000.00 4,928,424.21 4,929,751.71 0.00 0.00 0.00 0.00 23,739.31 23,739.31 Corporate Bonds
06406RAL1 Bank of New York Mellon 10/24/2024 1,079,000.00 1,065,488.70 1,066,781.45 2,328.84 0.00 4,217.09 1,888.25 1,292.75 3,181.00 64952WDL4 New York Life 01/22/2025 1,000,000.00 999,178.29 999,240.12 7,166.67 0.00 8,833.33 1,666.66 61.83 1,728.49 437076CM2 Home Depot 04/15/2025 500,000.00 499,605.17 499,629.90 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 1,001,696.33 1,001,624.00 3,625.00 3,750.00 500.00 625.00 -72.33 552.67 06051GGA1 Bank of America 10/21/2027 1,000,000.00 0.00 940,577.60 0.00 -4,240.44 6,315.56 2,075.12 997.60 3,072.72 592179KF1 MetLife 01/06/2028 1,158,000.00 0.00 1,156,164.83 0.00 -24,691.13 28,427.29 3,736.16 29.21 3,765.37 Run Date: 1/4/2024 - 4:10 PM
Amortizing
25 5.2.b
Packet Pg. 35
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned
City of San Ramon December 01, 2023 - December 31, 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 5,737,000.00 3,565,968.50 5,664,017.90 14,845.51 -25,181.57 51,143.27 11,116.19 2,333.78 13,449.97 LAIF
9807828 LAIF 01/01/2024 628,738.93 628,738.93 628,738.93 0.00 0.00 0.00 0.00 0.00 0.00 LAIF - Sub Total 628,738.93 628,738.93 628,738.93 0.00 0.00 0.00 0.00 0.00 0.00 Money Market Funds
FIGXX Fidelity Govt MMF 01/01/2024 3,426,507.57 7,454,855.13 3,426,507.57 34,622.26 34,622.26 20,763.37 20,763.37 0.00 20,763.37 Money Market Funds - Sub Total 3,426,507.57 7,454,855.13 3,426,507.57 34,622.26 34,622.26 20,763.37 20,763.37 0.00 20,763.37 Supranational Securities
45950KCR9 IFC 10/16/2024 1,060,000.00 1,069,448.61 1,068,551.59 1,821.88 0.00 3,036.46 1,214.58 -897.02 317.56 459058JL8 IBRD 10/28/2025 2,035,000.00 2,034,383.77 2,034,411.53 932.71 0.00 1,780.62 847.91 27.77 875.68 Supranational Securities - Sub Total 3,095,000.00 3,103,832.38 3,102,963.13 2,754.59 0.00 4,817.08 2,062.49 -869.25 1,193.24 U.S. Agencies
3133EJWW5 FFCB 12/14/2023 0.00 1,005,066.41 0.00 13,753.15 14,823.75 0.00 1,070.60 -66.41 1,004.19 3133EKQU3 FFCB 06/13/2024 1,000,000.00 999,819.16 999,848.21 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 1,999,101.16 1,999,210.00 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 1,999,588.63 1,999,633.07 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 1,052,764.49 1,051,849.99 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 2,000,826.50 2,000,777.69 666.67 0.00 1,916.67 1,250.00 -48.80 1,201.20 3137EAEX3 FHLMC 09/23/2025 2,000,000.00 1,996,711.25 1,996,867.38 1,416.67 0.00 2,041.67 625.00 156.13 781.13 3135G06G3 FNMA 11/07/2025 2,000,000.00 2,000,250.23 2,000,239.10 666.67 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 3133EN7A2 FFCB 10/26/2026 2,000,000.00 1,978,430.06 1,979,069.32 7,048.61 0.00 13,090.28 6,041.67 639.26 6,680.93 3130AXU63 FHLB 11/17/2026 1,000,000.00 998,251.31 998,302.11 1,798.61 0.00 5,652.78 3,854.17 50.81 3,904.98 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 1,973,270.97 1,973,870.97 11,666.67 0.00 17,500.00 5,833.33 600.00 6,433.33 3130A07B0 FHLB 09/01/2028 1,265,000.00 1,215,433.53 1,216,302.61 12,650.00 0.00 16,866.67 4,216.67 869.08 5,085.75 3133EPC45 FFCB 11/13/2028 2,000,000.00 2,009,449.40 2,009,285.11 4,625.00 0.00 12,333.33 7,708.33 -164.29 7,544.04 U.S. Agencies - Sub Total 25,308,000.00 26,228,963.08 25,225,255.55 99,985.34 24,573.75 121,345.48 45,933.89 1,292.47 47,226.36 Run Date: 1/4/2024 - 4:10 PM
Amortizing
26 5.2.b
Packet Pg. 36
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Income Earned
City of San Ramon December 01, 2023 - December 31, 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. Treasuries
912797HN0 U.S. Treasury 12/05/2023 0.00 1,998,486.56 0.00 0.00 0.00 0.00 0.00 1,513.44 1,513.44 912796ZY8 U.S. Treasury 01/25/2024 2,000,000.00 1,983,560.93 1,992,527.70 0.00 0.00 0.00 0.00 8,966.76 8,966.76 91282CCC3 U.S. Treasury 05/15/2024 2,000,000.00 1,998,945.31 1,999,141.09 219.78 0.00 645.60 425.82 195.78 621.60 912828YM6 U.S. Treasury 10/31/2024 2,000,000.00 2,017,432.90 2,015,824.51 2,554.95 0.00 5,109.89 2,554.94 -1,608.39 946.55 912828G38 U.S. Treasury 11/15/2024 2,000,000.00 2,034,418.87 2,031,379.03 1,978.02 0.00 5,810.44 3,832.42 -3,039.84 792.58 912828ZF0 U.S. Treasury 03/31/2025 2,000,000.00 1,999,406.84 1,999,444.60 1,693.99 0.00 2,540.98 846.99 37.76 884.75 91282CAT8 U.S. Treasury 10/31/2025 2,000,000.00 1,977,686.86 1,978,673.61 425.82 0.00 851.65 425.83 986.74 1,412.57 912828M56 U.S. Treasury 11/15/2025 2,000,000.00 2,021,326.93 2,020,403.56 1,978.02 0.00 5,810.44 3,832.42 -923.37 2,909.05 912828R36 U.S. Treasury 05/15/2026 2,000,000.00 1,936,062.24 1,938,271.91 1,428.57 0.00 4,196.43 2,767.86 2,209.67 4,977.53 91282CCW9 U.S. Treasury 08/31/2026 1,000,000.00 998,788.29 998,825.66 1,895.60 0.00 2,534.34 638.74 37.38 676.12 91282CCZ2 U.S. Treasury 09/30/2026 1,000,000.00 994,491.93 994,656.90 1,482.24 0.00 2,223.36 741.12 164.98 906.10 91282CDG3 U.S. Treasury 10/31/2026 2,000,000.00 1,963,639.80 1,964,697.18 1,916.21 0.00 3,832.42 1,916.21 1,057.38 2,973.59 912828U24 U.S. Treasury 11/15/2026 2,000,000.00 2,002,275.83 2,002,210.57 1,758.24 0.00 5,164.84 3,406.60 -65.26 3,341.34 912828X88 U.S. Treasury 05/15/2027 2,000,000.00 1,904,760.21 1,907,099.70 2,087.91 0.00 6,133.24 4,045.33 2,339.49 6,384.82 91282CFU0 U.S. Treasury 10/31/2027 2,000,000.00 1,993,400.66 1,993,543.62 7,026.10 0.00 14,052.20 7,026.10 142.96 7,169.06 9128283F5 U.S. Treasury 11/15/2027 2,000,000.00 1,839,913.63 1,843,345.63 1,978.02 0.00 5,810.44 3,832.42 3,432.00 7,264.42 U.S. Treasuries - Sub Total 28,000,000.00 29,664,597.79 27,680,045.26 28,423.47 0.00 64,716.27 36,292.80 15,447.47 51,740.27 Grand Total 75,163,246.50 79,539,954.78 74,621,946.43 197,733.99 39,956.25 286,544.54 128,766.80 42,035.40 170,802.20 Run Date: 1/4/2024 - 4:10 PM
Amortizing
27 5.2.b
Packet Pg. 37
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, 2023 - December 31, 2023 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
63873KZ42 06/20/2023 1,250,000.00 12/04/2023 167 1,250,000.00 1,250,000.00 0.00 Natixis, NY 0.000% 12/04/2023 167
Total Commercial Paper 1,250,000.00 1,250,000.00 0.00
U.S. Agencies
3133EJWW5 12/31/2018 1,005,000.00 12/14/2023 1,809 1,005,000.00 1,005,000.00 0.00 FFCB 2.950% 12/14/2023 1,809
Total U.S. Agencies 1,005,000.00 1,005,000.00 0.00
U.S. Treasuries
912797HN0 10/12/2023 2,000,000.00 12/05/2023 54 2,000,000.00 2,000,000.00 0.00 U.S. Treasury 0.000% 12/05/2023 54
Total U.S. Treasuries 2,000,000.00 2,000,000.00 0.00
Grand Total 4,255,000.00 4,255,000.00 0.00
Run Date: 1/4/2024 - 4:10 PM
Amortizing
28 5.2.b
Packet Pg. 38
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Transaction Report
City of San Ramon December 01, 2023 - December 31, 2023 Transaction Transaction Security Security Maturity
Date Type ID Description Date Purchases Redemptions Interest Deposits Withdrawals 12/04/2023 Interest FIGXX Fidelity Govt MMF - - 34,622.26 - - 12/04/2023 Maturity 63873KZ42 NATIXIS NY 12/04/2023 - 1,250,000.00 - - - 12/04/2023 Interest 108622PJ4 BRIDWA 5.1 11/03/26 11/03/2026 - - 1,039.56 - - 12/05/2023 Maturity 912797HN0 TREASURY BILL 12/05/2023 - 2,000,000.00 - - - 12/05/2023 Purchase 62479LD10 MUFG BANK LTD/NY 04/01/2024 -1,227,588.19 - - - - 12/07/2023 Interest 637639AE5 NSCCLF 0 3/4 12/07/25 12/07/2025 - - 3,750.00 - - 12/07/2023 Interest 949764HK3 WFC 5.05 11/07/28 11/07/2028 - - 1,029.37 - - 12/07/2023 Withdrawal - - - - -3,000,000.00
12/08/2023 Interest 90355GHQ2 UBS 5 11/08/28 11/08/2028 - - 1,019.18 - - 12/08/2023 Purchase 06051GGA1 BAC 3.248 10/21/27 10/21/2027 -939,580.00 - -4,240.44 - - 12/08/2023 Purchase 592179KF1 MET 5.05 01/06/28 01/06/2028 -1,156,135.62 - -24,691.13 - - 12/13/2023 Interest 3133EKQU3 FFCB 1.95 06/13/24 06/13/2024 - - 9,750.00 - - 12/14/2023 Maturity 3133EJWW5 FFCB 2.95 12/14/23 12/14/2023 - 1,005,000.00 - - - 12/14/2023 Interest 3133EJWW5 FFCB 2.95 12/14/23 12/14/2023 - - 14,823.75 - - 12/14/2023 Withdrawal FIGXX FIGXX - - - - -2,000,000.00 12/15/2023 Interest 32114VCH8 FNBMIC 4.6 03/15/28 03/15/2028 - - 937.64 - - 12/15/2023 Interest 20033AP91 ADS 3.1 02/15/24 02/15/2024 - - 631.89 - - 12/20/2023 Interest 062119BK7 FBFCEN 4.65 03/20/28 03/20/2028 - - 947.84 - - 12/26/2023 Interest 05465DAK4 BOFI 1.65 03/26/24 03/26/2024 - - 336.33 - - Grand Total: -3,323,303.81 4,255,000.00 39,956.25 0.00 -5,000,000.00 Run Date: 1/4/2024 - 4:10 PM
Amortizing
29 5.2.b
Packet Pg. 39
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 Meeder Public Funds, Inc., is a registered investment adviser with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940. Registration with the SEC does not imply a certain level of skill or training. The opinions expressed in this presentation are those of Meeder Public Funds, Inc. The material presented has been derived from sources considered to be reliable, but the accuracy and completeness cannot be guaranteed.

Meeder provides monthly statements for its investment management clients to provide information about the investment portfolio. The information should not be used for audit or confirmation purposes. Please review your custodial statements and report any inaccuracies or discrepancies.

Certain information and data have been supplied by unaffiliated third parties. Although Meeder believes the information is reliable, it cannot warrant the accuracy of information offered by third parties. Market value may reflect prices received from pricing vendors when current market quotations are not available. Prices may not reflect firm bids or offers and may differ from the value at which the security can be sold.

Statements may include positions from unmanaged accounts provided for reporting purposes. Unmanaged accounts are managed directly by the client and are not included in the accounts managed by the investment adviser. This information is provided as a client convenience and the investment adviser assumes no responsibility for performance of these accounts or the accuracy of the data reported.

Investing involves risk. Past performance is no guarantee of future results. Debt and fixed income securities are subject to credit and interest rate risk. The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Investment advisory services are provided through Meeder Public Funds, Inc. Please contact us if you would like to receive a copy of our current ADV disclosure brochure or privacy policy.

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 MEEDER PUBLIC FUNDS, INC., OR ANY OF ITS PRODUCTS OR SERVICES.

Run Date: 1/4/2024 - 4:10 PM
Amortizing
30 5.2.b
Packet Pg. 40
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending December Quarterly Economic and Market Update
December 2023

5.2.c
Packet Pg. 41
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
*Estimates for the current quarter/month, some data are lagged Sources: Meeder Public Funds and Bloomberg Case-Shiller Home Prices YOY* 4.9% 3.9% 1.0%
Consumer Confidence 102.0 104.3 (2.3)
Gold (per ounce) $2,062.98 $1,848.63 $214.35
Dollar Index 101.33 106.17 (4.84)
U.S. Avg Regular Unleaded $3.11 $3.82 ($0.71)
Retail Sales YOY* 4.8% 4.0% 0.8%
S&P 500 4,770 4,288 11.2%
Consumer Price Index YOY* 3.0% 3.7% (0.7%)
1-5 Yr A-AAA Corporate Spread 0.57% 0.73% (0.16%)
Dow Jones 37,690 33,508 12.5%
30 Year Mortgage Rate 6.99% 5.83% 1.16%
1-5 Yr Agency Spread 0.01% 0.08% (0.07%)
10 Year T-Note 3.88% 4.57% (0.69%)
U.S. Fed Debt Avg Yield* 3.21% 3.02% 0.20%
3 Year T-Note 4.01% 4.80% (0.79%)
5 Year T-Note 3.85% 4.61% (0.76%)
2 Year T-Note 4.25% 5.05% (0.80%)
3 Month T-Bill 5.34% 5.45% (0.11%)
Labor Force Participation 62.5% 62.8% (0.3%)
Effective Fed Funds Rate 5.33% 5.33% 0.00%
U.S. Payrolls Monthly Change 216,000 262,000 (46,000)
Unemployment Rate 3.7% 3.8% (0.1%)
12/31/2023
Item 12/31/2023 9/30/2023 Change
2 5.2.c
Packet Pg. 42
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
Estimate: Bloomberg's Survey of Economists
12/31/2023
12/31/2023

3.6 2.5

1.6 0.7

2.3 1.3

2.9 2.2

2.0 2.3

3.2 4.6

3.3 2.1

2.5 0.6

2.2 3.4

4.6 2.6
-5.3
-28.0

34.8 4.2

5.2 6.2

3.3 7.0
-2.0
-0.6

2.7 2.6

2.2 2.1

4.9 1.2

0.6 0.4

0.9 -40
-30
-20
-10
0 10
20 30
40 Q1 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 2024Q2 2024Q3 2024 Percent
U.S. GDP (Quarter over Quarter Annualized)*
Estimates
3 5.2.c
Packet Pg. 43
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
12/31/2023
Estimate: Bloomberg's Survey of Economists
12/31/2023

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

3.8 3.5

2.8 2.0

0.1 -2.6

2.7 1.6

2.3 2.1

2.5 2.9

1.8 2.5

3.0 2.5
-2.2

5.8 1.91.9
-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 5.2.c
Packet Pg. 44
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: Bureau of Labor Statistics
12 Month Average Job Change 224,750
12/31/2023
-25.0
-20.0
-15.0
-10.0
-5.0

0.0 5.0
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
Sep-23
Dec-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
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
Sep-23
Dec-23
Millions
U.S. Monthly Non-Farm Payrolls YOY Change
5 5.2.c
Packet Pg. 45
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: Bureau of Labor Statistics
12/31/2023
27 12
17 22
27 32
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
Aug-23
Oct-23
Dec-23
Percent
Unemployment Rates
U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 6 5.2.c
Packet Pg. 46
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: Bureau of Labor Statistics
12/31/2023
128
130
132
134
136
138
140
142
144
146
148
150
152
154
156
158
160
Dec-13
Jul-14
Feb-15Sep-15
Apr-16
Nov-16
Jun-17
Jan-18
Aug-18
Mar-19
Oct-19
May-20
Dec-20
Jul-21
Feb-22Sep-22
Apr-23
Nov-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
Dec-13
Jul-14
Feb-15Sep-15
Apr-16
Nov-16
Jun-17
Jan-18
Aug-18
Mar-19
Oct-19
May-20
Dec-20
Jul-21
Feb-22Sep-22
Apr-23
Nov-23
Percent
U.S. Labor Force Participation Rate
7 5.2.c
Packet Pg. 47
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: Department of Labor and Bloomberg
12/31/2023
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 199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023 Millions
Weekly Initial Jobless Claims
(4 Week Moving Average)
8 5.2.c
Packet Pg. 48
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
*Real: Inflation Adjusted
Source: U.S. Census Bureau Source: Conference Board
12/31/2023
-30
-20
-10
0 10
20 30
40 50
60 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
Sep-23
Percent
U.S. Real* Retail Sales YOY % Change
40 50
60 70
80 90
100
110
120
130
140
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
Dec-23
Index Value
U.S. Consumer Confidence
9 5.2.c
Packet Pg. 49
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
CPIX: Consumer Price Index, excluding food and energy PCEC: Personal Consumption Expenditure Core Source: Bureau of Labor Statistics and Bureau of Economic Analysis 12/31/2023

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0

8.0 9.0

10.0 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
Sep-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 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
Sep-23
Percent
PCE and PCEC YOY % Change

PCE PCEC
10 5.2.c
Packet Pg. 50
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate
12/31/2023
-4
-2
0 2
4 6
8 10
12 14
16 18
20 22
24 Jul-15
Dec-15
May-16
Oct-16
Mar-17
Aug-17
Jan-18
Jun-18
Nov-18
Apr-19
Sep-19Feb-20
Jul-20
Dec-20
May-21
Oct-21
Mar-22
Aug-22
Jan-23
Jun-23
YOY Percent
Case-Shiller 20 City U.S. Home Price Index
YOY % Increase
200
300
400
500
600
700
800
900
1,000
1,100

3.0 3.5

4.0 4.5

5.0 5.5

6.0 6.5

7.0 Jun-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
New-Thousands
Existing-Millions
U.S. New and Existing Home Sales
Existing-Left
New-Right
11 5.2.c
Packet Pg. 51
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: U.S. Treasury
12/31/2023
$12
$13
$14
$15
$16
$17
$18
$19
$20
$21
$22
$23
$24
$25
$26
$27
$28
$29
$30
$31
$32
$33
$34
$35
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
Trillions
U.S. Federal Debt Outstanding

1.3 1.5

1.7 1.9

2.1 2.3

2.5 2.7

2.9 3.1

3.3 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
Percent
U.S. Treasury Interest Bearing Debt Avg Rate
12 5.2.c
Packet Pg. 52
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Fed Funds Anticipated Rate from the September 20, 2023 FOMC Meeting Source: Bloomberg
12/31/2023

2.00 2.50

3.00 3.50

4.00 4.50

5.00 5.50

6.00 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
Aug-2026
Sep-2026
Oct-2026
Nov-2026
Dec-2026
Jan-2027
Percent
Fed Funds Futures Fed's Anticipated Rates
Fed Funds Futures
13 5.2.c
Packet Pg. 53
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: Bloomberg
Figures may not total due to rounding
12/31/2023
3Y 4.01 4.80 -0.79
30Y 4.03 4.70 -0.67
5Y 3.85 4.61 -0.76
10Y

5.34 3.88 4.57 -0.69
12/29/23 9/29/23 Change
3M
Maturity
2Y 4.25 5.05 -0.80
1Y 4.77 5.46 -0.69
6M 5.26 5.55 -0.29

5.45 -0.11

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
12/29/23
9/29/23
-90
-80
-70
-60
-50
-40
-30
-20
-10
0 3M6M
1Y2Y
3Yr
5Y
10Y30Y
Basis Points
Basis Point Change
14 5.2.c
Packet Pg. 54
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: Bloomberg
12/31/2023

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
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
Sep-23
Dec-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

5.50 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
Sep-23
Dec-23
Percent
U.S. Treasury Yields: 2Y and 5Y
5Y
2Y
15 5.2.c
Packet Pg. 55
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: Bloomberg
12/31/2023
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-22Jan-24 Percent
U.S. Treasury Yields 2Yr and 5Yr - Fed Funds Target Rate 5Yr
2Yr
Fed Funds
16 5.2.c
Packet Pg. 56
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: Bloomberg
12/31/2023
Global Treasury Rates
2 Year Yields 5 Year Yields 10 Year Yields

0.04%

1.07%

2.39%

2.41%

2.93%

2.94%

2.98%

3.71%

3.89%

3.95%

4.25%

0.0% 2.0% 4.0% 6.0%
Japan
Switzlnd
Germany
Portugal
France
Spain
Italy
Australia
Canada
England
USA

0.20%

0.75%

1.94%

2.23%

2.26%

2.61%

3.06%

3.17%

3.45%

3.64%

3.85%

0.0% 2.0% 4.0% 6.0%
Japan
Switzlnd
Germany
Portugal
France
Spain
Italy
Canada
England
Australia
USA

0.61%

0.65%

2.02%

2.56%

2.63%

2.98%

3.11%

3.53%

3.69%

3.88%

3.96%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0%
Japan
Switzlnd
Germany
France
Portugal
Spain
Canada
England
Italy
USA
Australia
17 5.2.c
Packet Pg. 57
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
ICE BofAML Index (option adjusted spread vs. Treasury) ICE BofAML Index (option adjusted spread vs. Treasury) 1-5Yr Non-Callable Agency (GVPB) Corporate A-AAA Excluding Yankee (CVAC) Source: ICE BofAML Indices
12/31/2023
Current Spread is 1 Current Spread is 57
-20
0 20
40 Nov-09Nov-10Nov-11Nov-12Nov-13Nov-14Nov-15Nov-16Nov-17Nov-18Nov-19Nov-20Nov-21Nov-22Nov-23 Basis Points
Spread: 1-5Yr Agency vs Treasury
0 50
100
150
200
250
Nov-09Nov-10Nov-11Nov-12Nov-13Nov-14Nov-15Nov-16Nov-17Nov-18Nov-19Nov-20Nov-21Nov-22Nov-23 Basis Points
Spread: 1-5Yr A-AAA Corporate vs Treasury
18 5.2.c
Packet Pg. 58
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
*ICE BofAML Index (option adjusted spread vs. Treasury) *ICE BofAML Index (option adjusted spread vs. Treasury) AAA Rated ABS (R0A1) CMO Agency 0-3Yr PAC (CM1P)
Source: ICE BofAML Indices
12/31/2023
Current Spread is 79 Current Spread is 96
0 50
100
150
200
250
300
Nov-09Nov-10Nov-11Nov-12Nov-13Nov-14Nov-15Nov-16Nov-17Nov-18Nov-19Nov-20Nov-21Nov-22Nov-23 Basis Points
Spread: AAA Asset Backed vs Treasury
-150
-100
-50
0 50
100
150
Nov-09Nov-10Nov-11Nov-12Nov-13Nov-14Nov-15Nov-16Nov-17Nov-18Nov-19Nov-20Nov-21Nov-22Nov-23 Basis Points
Spread: 0-3Yr Agency CMO vs Treasury
19 5.2.c
Packet Pg. 59
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: Bloomberg
12/31/2023
-17.6
-5.4
-3.1

1.4 2.5

4.2 4.5

6.4 6.8 7.1 7.2

10.7 11.1 11.5 11.6 11.6

12.9 13.1

14.6 15.1

16.3 18.2
(20)
(15)
(10)
(5) 05
10 15
20 25
Percent
Selected Sector Quarterly Total Returns
20 5.2.c
Packet Pg. 60
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Source: Bloomberg
12/31/2023
-9.8
-4.9

2.8 3.6 3.6 3.8 4.2 5.0 5.7 6.4

9.0 9.3

11.8 12.4 12.8 13.0

16.0 16.1 16.4 18.4

26.2 54.9
(20)
(10) 0
10 20
30 40
50 60
Percent
Selected Sector Year-Over-Year Total Returns
21 5.2.c
Packet Pg. 61
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Sources: Bloomberg, Meeder Public Funds
12/31/2023

3.50 3.70

3.90 4.10

4.30 4.50

4.70 4.90

5.10 9/30/2310/3/2310/6/2310/9/23
10/12/2310/15/2310/18/2310/21/2310/24/2310/27/2310/30/23 11/2/2311/5/2311/8/23
11/11/2311/14/2311/17/2311/20/2311/23/2311/26/2311/29/23 12/2/2312/5/2312/8/23
12/11/2312/14/2312/17/2312/20/2312/23/2312/26/2312/29/23 Percent
5 Year Treasury Note Yield
Treasury Yields Rise
From Multimonth
Lows On Poor 7-Year
Auction
September Headline CPI Up

0.4% MoM, And Steady At

3.7% YoY Fed Members Are Reluctant To Declare End
Of Rate Increases, Yet Hawkish Fed
Minutes Fail To Boost Treasury Yields
Interest Rate Traders Price In
An Almost 84% Chance Of
25bps Cut In March
10-Year Treasury Note Yield
Drops Below 4% For First Time
Since August As Markets Price In
Fed Rate Cuts
Market Prices In A 96.8% Probability
That The Fed Will Leave Interest
Rates Unchanged At December 13
Meeting
Treasury Yields Fall
On Bets The Fed Is
Done Hiking
Treasury Yields Fall To FiveWeek Lows After Job Growth Slows More Than Expected
In October
Q3 GDP Up 4.9%,
Strongest Since
Q4 2021
US Hiring Surges In
September +336k,
Unemployment
Unchanged At 3.8%
22 5.2.c
Packet Pg. 62
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Economic and Market Update
Sources: Bloomberg, Meeder Public Funds
12/31/2023
32,000
33,000
34,000
35,000
36,000
37,000
38,000
9/30/2310/3/2310/6/2310/9/23
10/12/2310/15/2310/18/2310/21/2310/24/2310/27/2310/30/23 11/2/2311/5/2311/8/23
11/11/2311/14/2311/17/2311/20/2311/23/2311/26/2311/29/23 12/2/2312/5/2312/8/23
12/11/2312/14/2312/17/2312/20/2312/23/2312/26/2312/29/23 Dow Jones Industrial Average
Stocks End 2023 Up 24% For
The Year As Resilient
Economy Energizes
Investors
Mike Johnson
Elected Speaker Of
The House After
22 Days
Fed Unanimously
Votes To Hold Rates
Steady
Dow And S&P Hit Highest Level
Since 2022 After November CPI
Comes In At 3.1% YoY
Global Stocks Record Best
Month In Three Years On
Interest Rate Cut Hopes
US Inflation Falls More
Than Expected To 3.2%
YoY In October
Stocks Fall As Fed Chair
Powell Says More Rate
Hikes Are Possible
Fed Decides To Hold
Interest Rates Steady
Core CPI Falls To

4.1% YoY
September Payrolls And Revisions
Exceed Expectations, +500k In Two
Months
Kevin McCarthy
Removed As
Speaker Of The
House
23 5.2.c
Packet Pg. 63
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly Disclosure
Meeder Public Funds, Inc., is a registered investment adviser with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940.

Registration with the SEC does not imply a certain level of skill or training. The opinions expressed in this presentation are those of Meeder Public Funds, Inc. The material presented has been derived from sources considered to be reliable, but the accuracy and completeness cannot be guaranteed.

Meeder provides monthly statements for its investment management clients to provide information about the investment portfolio. The information should not be used for audit or confirmation purposes. Please review your custodial statements and report any inaccuracies or discrepancies.

Certain information and data have been supplied by unaffiliated third parties. Although Meeder believes the information is reliable, it cannot warrant the accuracy of information offered by third parties. Market value may reflect prices received from pricing vendors when current market quotations are not available. Prices may not reflect firm bids or offers and may differ from the value at which the security can be sold.

Statements may include positions from unmanaged accounts provided for reporting purposes. Unmanaged accounts are managed directly by the client and are not included in the accounts managed by the investment adviser. This information is provided as a client convenience and the investment adviser assumes no responsibility for performance of these accounts or the accuracy of the data reported.

Investing involves risk. Past performance is no guarantee of future results. Debt and fixed income securities are subject to credit and interest rate risk. The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Investment advisory services are provided through Meeder Public Funds, Inc. Please contact us if you would like to receive a copy of our current ADV disclosure brochure or privacy policy.

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 MEEDER PUBLIC FUNDS, INC., OR ANY OF ITS PRODUCTS OR SERVICES. 24 5.2.c
Packet Pg. 64
Attachment: C: Quarterly Economic and Market Update at December 31, 2023 (4219 : Quarterly City of San Ramon
Investment Report - Supplementary Information
Investments Held by Trustees at December 31, 2023
Maturity
Description CUSIP Rate Date Cost Market Issue
AMBAC Assurance 1.00 1.00 06(A) TA
Computershare Money Market 0.74 0.74 2010 POB
Computershare Money Market 2,903,496.27 2,903,495.27 2010 POB Computershare Money Market 201,287.00 201,287.00 2010 POB Computershare Money Market 104,462.60 104,462.60 2010 POB Computershare Money Market 427.44 427.44 2010 POB
Dreyfus Govt Cash Mgmt X9USDYRUT 5.16% n/a 335,489.19 335,489.19 2019 COP Dreyfus Govt Cash Mgmt X9USDYRUT 5.13% 5.46 5.46 2019 COP $ 3,545,168.70 3,545,169.70 $
Note: Computershare is formerly known
as Wells Fargo.

5.2.d
Packet Pg. 65
Attachment: D: Investments Held by Trustees at December 31, 2023 (4219 : Quarterly Investment Report)

INVESTMENT TERMINOLOGY
Basis Points – A standard measure for interest rates that represents one-hundredth of one percent. As an example, the difference between a security yielding 2.00% and 2.25% is 25 basis points.

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.

Call Date – The day on which the issuer has the right to redeem a callable bond at par, or at a small premium to par, prior to the stated maturity date.

Carrying Value – The original cost of an asset, less the accumulated amount of any depreciation or amortization, less the accumulated amount of any asset impairments.

Certificate of Deposit (CD’s) – A debt instrument issued by financial institutions that will pay interest, periodically or at maturity, and principal when it reaches maturity. Maturities range from a few weeks to several years.

Commercial Paper – An unsecured short term promissory note issued by corporations, with maturities typically ranging from 1 to 270 days, and usually transacts at a discount with no coupon payments.

Corporate Notes – A type of debt security issued by a corporation and sold to investors.

Federal Agency Securities – Securities issued by corporations and agencies created by the US government, such as the Federal Home Loan Bank Board and Ginnie Mae.

Liquidity – The amount of a portfolio or an asset that can be converted easily and quickly into cash. Cash is the most liquid asset, followed by cash equivalents, such as money market funds.

Market Value – Also known as fair value. Market value is the price that buyers and sellers of a financial instrument would agree upon if the instrument was sold in the market today.

Maturity – The date on which payment of a financial obligation is due. The final stated maturity is the date on which the issuer must retire a bond and pay the face value to the bondholder.

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).

Safety – Also known as Margin of Safety. Margin of safety is a principle of investing in which an investor only purchases securities when their market price is significantly below their intrinsic value.

Supranational – A supranational entity is formed by two or more central governments with the purpose of promoting economic development for the member countries. Supranational institutions finance their activities by issuing debt, such as supranational bonds. The three U.S.

5.2.e
Packet Pg. 66
Attachment: E: Investment Terminology (4219 : Quarterly Investment Report) based supranationals are International Bank for Reconstruction and Development, the International Finance Corporation, and the Inter-American Development Bank.

Treasury Securities – Government bonds from the United States Treasury Department.

Examples include U.S. Treasury Bills, U.S. Treasury Notes, and U.S. Treasury Bonds.

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.

Yield – The current rate of return on an investment security, generally expressed as a percentage of the security's current price. Examples of yield include interest rate earned and dividend rate received from holding a particular security.

5.2.e
Packet Pg. 67
Attachment: E: Investment Terminology (4219 : Quarterly Investment Report)