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
July 22, 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 – June 10, 2024
4. UNFINISHED BUSINESS
5. NEW BUSINESS
5.1 Quarterly Investment Report for the Period Ending June 30, 2024 Staff Report by Miaoxia Joe, Financial Analyst
5.2 Nexus Fee Study Allocation- Fund 201
Staff Report by Cindy Yee, Senior Planner
6. COMMITTEE MEMBER COMMENTS
7. ADJOURNMENT
The next Finance Committee Meeting is scheduled for August 12, 2024. 2 Finance Committee Meeting – July 22, 2024
I hereby certify that the attached Finance Committee Meeting Agenda was posted 72 hours before the noted meeting. To make a request for disability-related accommodation to participate in the meeting, please contact the City Clerk’s Office 48 hours in advance of the meeting at 925- 973-2539 or [email protected].
Dated: June 6, 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
June 10, 2024
1. CALL TO ORDER
The meeting was called to order at 4:00 PM.
Attendee Name Title Status Arrived
Scott Perkins Chair Present
Sridhar Verose Vice Chair Present
Also in attendance: City Manager Steven Spedowfski, Deputy City Manager Scott Koll, Candace Daniels, Finance Division Manager, Adolfo Navarro, Accounting Specialist.
2. PUBLIC COMMENT
There were no public comments.
3. APPROVAL OF MINUTES
3.1 Finance Committee - Regular Meeting - May 13, 2024 4:00 PM RESULT: ACCEPTED [UNANIMOUS]
AYES: Perkins, Verose
4. UNFINISHED BUSINESS
5. NEW BUSINESS
5.1 Proposed FY 2024-25 Statement of Investment Policy
Staff Report by Candace Daniels, Finance Division Manager The Finance Committee accepted the report.
RESULT: RECOMMENDED Next: 6/25/2024 7:00 PM
6. COMMITTEE MEMBER COMMENTS
Committee members had nothing additional to report.
7. ADJOURNMENT
The meeting adjourned at 4:06 PM. The next Finance Committee Meeting is scheduled for July 15, 2024.
3.1 Packet Pg. 3
Minutes Acceptance: Minutes of Jun 10, 2024 4:00 PM (APPROVAL OF MINUTES)
FINANCE COMMITTEE STAFF REPORT
DATE: July 22, 2024
TO: Finance Committee/City Manager
FROM: Scott Koll, Deputy City Manager
By: Miaoxia Joe, Administraive Analyst
SUBJECT: Quarterly Investment Report for the Period Ending June 30, 2024
RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the Quarterly Investment Report for the period ending June 30, 2024 and forward it 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, for the period ending June 30, 2024, the Investments Held by Trustees, and the Summary of Cash and Investments are attached for your review.
The June 30, 2024 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 $13.7 million as of June 30, 2024. This account is used for daily City operations.
Total funds managed by Meeder Public Funds equaled $80.7 million at book value as of June 30, 2024. The portfolio consists of $26.3 million in federal agency securities, $35.7 million in treasury securities, $5.1 million in supranationals, $6.7 million in corporate notes, $3.2 million in
5.1 Packet Pg. 4
FDIC insured CD’s, and $3.7 million in commercial paper. The weighted average yield to maturity on investments is 3.01% and the weighted average days to maturity is 684 days, which is 26 days longer than last quarter. Interest rates are 35 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 $2.2 million and makes up 2.61% of the portfolio as of June 30, 2024. The current rate is
5.2%. 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 4.33% and makes up 0.77% 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 $2.2 million. The 2019 Certificates of Participation (COP) investments managed by Meeder Public Funds total $0.1 million and are available for designated capital projects. The remaining $2.1 million of investments managed by the trustee pertain to City pension obligation bonds and are not available for general City purposes.
This investment portfolio is in conformity with the City of San Ramon’s adopted “Investment Policy.” The Treasurer’s cash management program provides sufficient liquidity to meet estimated future expenditures for a period of six months. 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 the City Council for review and acceptance at the July 23, 2024, City Council meeting.
ATTACHMENT
A: Summary of Cash and Investments as of June 30, 2024
B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, 2024
5.1 Packet Pg. 5
C: Monthly Commentary at June 30, 2024
D: Investments Held by Trustees at June 30, 2024
E: Investment Terminology
5.1 Packet Pg. 6
Demand deposits held with JP Morgan Chase Bank $ 13,717,760 Investment Portfolio:
Investments held with US Bank (Meeder Public Funds) 80,730,352 Fidelity US Government Money Market Funds held with US Bank 2,184,200 Investments held with Local Agency Investment Fund (LAIF) 641,841 Total Investment Portfolio 83,556,393
Investments held with Trustee 2,267,360
Total Cash and Investments $ 99,541,513
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:
Candace Daniels, Finance Division Manager
Summary of Cash and Investments
For the Period June 30, 2024
5.1.a
Packet Pg. 7
Attachment: A: Summary of Cash and Investments as of June 30, 2024 (4420 : Quarterly Investment Report) Monthly Investment Report
City of San Ramon
June 2024
10655 Park Run Drive, Suite 120 | Las Vegas, NV 89144 | Phone 702.575.6600 | www.meederpublicfunds.com
5.1.b
Packet Pg. 8
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 2
Portfolio Summary
City of San Ramon 6/30/2024
SECTOR ALLOCATION MATURITY DISTRIBUTION CREDIT QUALITY (MOODY'S)
ACCOUNT SUMMARY MONTH-END PORTFOLIO BOOK YIELD TOP ISSUERS 6/30/24 5/31/24 Issuer % Portfolio
Market Value $81,826,696 $81,492,312 U.S. Treasury 42.8% Book Value $83,556,393 $83,491,977 FFCB 13.2%
Variance -$1,729,697 -$1,999,664 FHLB 11.0%
Fidelity Govt MMF 2.6%
Par Value $84,046,041 $83,922,972 IBRD 2.4%
IADB 2.4%
Net Asset Value $97.93 $97.60 TVA 2.4%
FNMA 2.4%
Book Yield 3.01% 2.97% FHLMC 2.4%
ING US Funding 1.5%
Market Yield 4.95% 4.90% PepsiCo 1.5%
John Deere 1.5%
Years to Maturity 1.87 1.90 MetLife 1.4%
Bank of New York Mellon 1.3%
Effective Duration 1.73 1.74 IFC 1.3% Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24
2.00%
2.20%
2.40%
2.60%
2.80%
3.00%
3.20%
0.8%
2.6%
3.9%
4.5%
6.1%
8.0%
31.4%
42.8%
LAIF
MMF
CD
CP
SUPRA
CORP
AGY
TSY
0% 25% 50% 75% 100%
37.7%
18.8%
14.8% 14.3% 14.4%
0-1Y 1-2Y 2-3Y 3-4Y 4-5Y+
0%
10%
20%
30%
40%
50%
60%
4.6%
0.6%
3.6%
1.4%
78.2%
11.6%
NR
A3
A2
A1
Aa3
Aa2
Aa1
Aaa
P-1
0% 25% 50% 75% 100%
2 5.1.b
Packet Pg. 9
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 3
Investment Policy Compliance
City of San Ramon 6/30/2024
Category Book Value % of Portfolio % Allowed by Policy In Compliance Reserved row US Treasuries 35,749,877.69 42.79% 100% Yes
US Federal Agencies 26,262,261.43 31.43% 100% Yes
Supranational Obligations 5,106,320.31 6.11% 30% Yes
LAIF 641,840.75 0.77% 15% Yes
Commercial Paper 3,724,990.47 4.46% 25% Yes
Money Market Funds 2,184,199.79 2.61% 20% Yes
Negotiable Certificates of Deposit 3,221,121.01 3.86% 30% Yes Corporate Obligations 6,665,781.48 7.98% 30% Yes
State and Local Governments 0.00 0.00% 3% Yes
Total 83,556,392.93 100.00%
Other Metrics Portfolio Metric In Compliance
Weighted Average Maturity 1.87 Less than 2.5 Years Yes
Liquidity 37.68% 30% Under 365 Days Yes
Ratings Yes
3 5.1.b
Packet Pg. 10
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 4
Historical Book Values
City of San Ramon 6/30/2024
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 $74.7 $74.8 $74.9 $75.1 $78.0 $83.5 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
Mar-24
$50
$60
$70
$80
$90
Millions
4 5.1.b
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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 5
Historical Book Values Per Fiscal Year
City of San Ramon 6/30/2024
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 $74.7 $74.8 $74.9 $75.1 $78.0 $83.5 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 5.1.b
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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 6
Historical Weighted Average Maturity
City of San Ramon 6/30/2024 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 1.75 1.90 1.81 1.87 1.80 1.84 1.90 1.87 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 Mar-24
0.00 0.50
1.00 1.50
2.00 2.50
Average Years To Maturity
6 5.1.b
Packet Pg. 13
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 7
Next Twelve Months Cash Flow
City of San Ramon 6/30/2024
Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Maturities $4.1 $3.3 $3.5 $6.1 $5.1 $2.1 $1.0 $2.0 $2.0 $0.5 $2.0 $0.0 1 Par Value in Millions; Assumes Securities Are Held To Maturity $4.1
$3.3
$3.5
$6.1
$5.1
$2.1
$1.0
$2.0 $2.0
$0.5
$2.0
$0.0
Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 $0
$1
$2
$3
$4
$5
$6
$7
Millions
7 5.1.b
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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 8
Yield At Cost Per 6-Month Maturity Intervals
City of San Ramon 6/30/2024
Years Yield At Cost % of Portfolio
0 to .5 3.36% 28.71%
.5 to 1.0 1.33% 8.98%
1.0 to 1.5 0.79% 13.20%
1.5 to 2.0 2.32% 5.62%
2.0 to 2.5 2.49% 11.30%
2.5 to 3.0 3.27% 3.50%
3.0 to 3.5 4.46% 11.70%
3.5 to 4.0 4.91% 2.57%
4.0 to 4.5 4.50% 11.99%
4.5 to 5.0 4.40% 2.43%
5.0+ 0.00% 0.00%
Total 3.01% 100.0%
3.36%
1.33%
0.79%
2.32%
2.49%
3.27%
4.46%
4.91%
4.50%
4.40%
-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. 15
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 9
Historical Sector Allocation
City of San Ramon 6/30/2024
Sector Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 TSY 40.0% 41.5% 38.9% 38.7% 37.3% 37.1% 34.4% 39.7% 39.7% 41.9% 40.1% 42.8% AGY 33.1% 31.7% 31.7% 32.7% 33.0% 33.8% 33.8% 33.7% 33.7% 33.5% 32.7% 31.4% CORP 5.6% 4.5% 4.5% 4.5% 4.5% 7.6% 7.6% 7.6% 7.6% 7.5% 6.8% 8.0% Supra 3.8% 3.9% 3.9% 3.9% 3.9% 4.2% 4.2% 4.1% 4.1% 4.1% 6.1% 6.1% CP 8.5% 10.4% 6.0% 6.2% 6.2% 6.6% 5.0% 3.3% 6.6% 4.9% 4.4% 4.5% CD 4.5% 4.7% 4.4% 4.1% 5.0% 5.3% 5.3% 4.6% 4.3% 4.3% 3.9% 3.9% MMF 2.5% 1.2% 8.5% 9.2% 9.4% 4.6% 9.0% 6.0% 3.2% 2.9% 5.2% 2.6% LAIF 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.9% 0.8% 0.8% Muni 1.2% 1.3% 1.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 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% 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%
5%
10%
15%
20%
25%
30%
35%
40%
45%
TSY
AGY
CORP
Supra
CP
CD
MMF
LAIF
Muni
9 5.1.b
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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 10
Issuer Allocation
City of San Ramon 6/30/2024
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%
1.1%
1.2%
1.2%
1.2%
1.3%
1.3%
1.4%
1.5%
1.5%
1.5%
2.4%
2.4%
2.4%
2.4%
2.4%
2.6%
11.0%
13.2%
42.8%
Wells Fargo
UBS Bank USA
Morgan Stanley Private Bank
CIBC Bank USA
Discover Bank
Bridgewater Bank/Bloomington MN
American Express National Bank
Ally Bank
Sallie Mae Bank
United Fidelity Bank FSB
First National Bank of Michigan
First Missouri State Bank
Bank Five Nine
Home Depot
LAIF
Bank of America
Toyota
New York Life
National Securities Clearing
IFC
Bank of New York Mellon
MetLife
John Deere
PepsiCo
ING US Funding
FHLMC
FNMA
TVA
IADB
IBRD
Fidelity Govt MMF
FHLB
FFCB
U.S. Treasury
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
10 5.1.b
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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 11
Historical Earnings & Book Return Performance
City of San Ramon 6/30/2024
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 $1,215.942 $1,373.604 $1,487.533 $1,707.644 $1,887.911 $2,090.230 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% 2.62% 2.63% 2.54% 2.64% 2.64% 2.67% Fiscal Year-To-Date Earnings
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$0
$500
$1,000
$1,500
$2,000
$2,500
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
2.20%
2.30%
2.40%
2.50%
2.60%
2.70%
11 5.1.b
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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 12
Historical Yield At Cost vs Benchmark
City of San Ramon 6/30/2024
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-23Feb-24
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0% Portfolio
Benchmark
Trailing 12 Months: Month End Yield At Cost vs Benchmark Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
Portfolio
Benchmark
Benchmark: Custom Benchmark (see disclosure)
12 5.1.b
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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Run Date: 7/3/2024 - 10:59 AM
Amortizing Page 13
Investment Activity
City of San Ramon 6/30/2024
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Positions 65 64 59 58 60 60 58 57 58 58 61 62
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Purchases 3 1 0 7 6 3 0 2 2 2 4 3
Redemptions 3 2 5 8 4 3 2 3 1 2 1 2
Total 6 3 5 15 10 6 2 5 3 4 5 5
Number of Positions at Month End
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 50 52
54 56
58 60
62 64
66 Positions
Purchases and Redemptions* (Excluding MMF/LGIP)
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 2
4 6
8 10
Number of Transactions
Purchases
Redemptions
*Redemptions include maturities, calls, and sells
13 5.1.b
Packet Pg. 20
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Portfolio Summary
City of San Ramon June 30, 2024
Investments Par Value Book Value
% of
Portfolio Maturity YTM
Days to
Market Value
Book
Certificates of Deposit 3,224,000.00 3,216,210.32 3,221,121.01 3.86 1,064 4.41 Commercial Paper 3,750,000.00 3,724,775.00 3,724,990.47 4.46 46 5.49 Corporate Bonds 6,737,000.00 6,569,150.76 6,665,781.48 7.98 719 3.53 LAIF 641,840.75 641,840.75 641,840.75 0.77 1 4.33
Money Market Funds 2,184,199.79 2,184,199.79 2,184,199.79 2.61 1 5.20 Supranational Securities 5,095,000.00 4,979,845.55 5,106,320.31 6.11 654 2.13 U.S. Agencies 26,308,000.00 25,623,129.81 26,262,261.43 31.43 728 2.37 U.S. Treasuries 36,106,000.00 34,887,544.16 35,749,877.69 42.79 736 2.96 84,046,040.54 81,826,696.14 83,556,392.93 100.00 684 3.01 Investments
Total Earnings June 30 Month Ending Fiscal Year To Date Current Year 202,319.56 2,090,230.45
Average Daily Balance 83,530,374.09 78,083,030.49
Book Rate of Return 2.95% 2.67%
Run Date: 7/3/2024 - 10:59 AM
Amortizing
14 5.1.b
Packet Pg. 21
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Holdings Report
City of San Ramon June 30, 2024
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
32100LCB9 First Missouri State Bank 09/13/2024 248,000.00 09/13/2019 248,000.00 99.23 246,100.32 0.30% NR/NR 0.21
1.850% 1.85% 248,000.00 5.62% 1,382.68 -1,899.68 NR 0.21 02589AEN8 American Express National Bank 03/23/2026 248,000.00 03/22/2023 247,752.00 100.01 248,034.72 0.30% NR/NR 1.73
5.000% 5.04% 247,857.35 4.99% 3,431.23 177.37 NR 1.62
02007GM42 Ally Bank 03/23/2026 248,000.00 03/23/2023 247,752.00 100.08 248,203.36 0.30% NR/NR 1.73
5.050% 5.09% 247,857.22 5.00% 3,431.23 346.14 NR 1.62
910286GB3 United Fidelity Bank FSB 03/30/2026 248,000.00 03/30/2023 248,000.00 100.06 248,151.28 0.30% NR/NR 1.75
5.000% 5.00% 248,000.00 4.96% 67.95 151.28 NR 1.64
795451AK9 Sallie Mae Bank 08/11/2026 248,000.00 08/11/2021 248,000.00 92.47 229,318.16 0.30% NR/NR 2.12
1.100% 1.10% 248,000.00 4.89% 1,053.83 -18,681.84 NR 2.08 108622PJ4 Bridgewater Bank/Bloomington MN 11/03/2026 248,000.00 11/06/2023 247,628.00 100.49 249,225.12 0.30% NR/NR 2.35
5.100% 5.15% 247,708.66 4.87% 970.26 1,516.46 NR 2.17
32114VCH8 First National Bank of Michigan 03/15/2028 248,000.00 03/15/2023 248,000.00 99.61 247,025.36 0.30% NR/NR 3.71
4.600% 4.60% 248,000.00 4.72% 500.08 -974.64 NR 3.34
062119BK7 Bank Five Nine 03/20/2028 248,000.00 03/20/2023 248,000.00 99.79 247,471.76 0.30% NR/NR 3.72
4.650% 4.65% 248,000.00 4.71% 347.54 -528.24 NR 3.35
2546732U9 Discover Bank 03/21/2028 248,000.00 03/22/2023 247,456.88 100.94 250,326.24 0.30% NR/NR 3.73
5.000% 5.05% 247,595.49 4.72% 3,431.23 2,730.75 NR 3.32 12547CAX6 CIBC Bank USA 04/13/2028 248,000.00 04/14/2023 247,380.00 99.14 245,859.76 0.30% NR/NR 3.79
4.450% 4.51% 247,530.42 4.70% 2,358.38 -1,670.66 NR 3.42 949764HK3 Wells Fargo Bank NA 11/07/2028 248,000.00 11/07/2023 247,451.92 101.77 252,384.64 0.30% NR/NR 4.36
5.050% 5.10% 247,522.72 4.60% 823.50 4,861.92 NR 3.84
61768EE82 Morgan Stanley Private Bank 11/08/2028 248,000.00 11/08/2023 247,456.88 101.70 252,208.56 0.30% NR/NR 4.36
5.050% 5.10% 247,526.74 4.61% 1,852.87 4,681.82 NR 3.85 90355GHQ2 UBS Bank USA 11/08/2028 248,000.00 11/08/2023 247,451.92 101.57 251,901.04 0.30% NR/NR 4.36
5.000% 5.05% 247,522.42 4.60% 781.37 4,378.62 NR 3.85
3,220,329.60 3,216,210.32 3.85% 2.91
Total Certificates of Deposit 3,224,000.00 4.41% 3,221,121.01 4.85% 20,432.15 -4,910.70 2.64 Commercial Paper
45685QGS2 ING US Funding LLC 07/26/2024 1,250,000.00 10/31/2023 1,197,227.43 99.63 1,245,362.50 1.49% P-1/A-1 0.07
0.000% 5.90% 1,244,841.78 5.24% 0.00 520.72 NR 0.08
71344TH21 PepsiCo 08/02/2024 1,250,000.00 03/28/2024 1,227,201.74 99.52 1,243,987.50 1.49% P-1/A-1 0.09
0.000% 5.27% 1,244,116.58 5.36% 0.00 -129.08 NR 0.10
24422LJG9 John Deere 09/16/2024 1,250,000.00 03/28/2024 1,219,123.61 98.83 1,235,425.00 1.48% P-1/A-1 0.21
0.000% 5.30% 1,236,032.11 5.54% 0.00 -607.11 F1 0.22
Run Date: 7/3/2024 - 11:00 AM
Amortizing
15 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, 2024
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
3,643,552.78 3,724,775.00 4.46% 0.12
Total Commercial Paper 3,750,000.00 5.49% 3,724,990.47 5.38% 0.00 -215.47 0.13 Corporate Bonds
06406RAL1 Bank of New York Mellon 10/24/2024 1,079,000.00 06/28/2022 1,044,137.51 98.93 1,067,454.70 1.29% A1/A 0.32
2.100% 3.56% 1,074,246.02 5.52% 4,217.09 -6,791.32 AA- 0.31 64952WDL4 New York Life 01/22/2025 1,000,000.00 01/22/2020 996,410.00 98.08 980,810.00 1.20% Aaa/AA+ 0.56
2.000% 2.08% 999,597.12 5.52% 8,833.33 -18,787.12 AAA 0.54 437076CM2 Home Depot 04/15/2025 500,000.00 03/28/2022 499,125.00 97.97 489,855.00 0.60% A2/A 0.79
2.700% 2.76% 499,772.68 5.35% 2,850.00 -9,917.68 A 0.76 637639AE5 National Securities Clearing 12/07/2025 1,000,000.00 01/07/2021 1,004,130.00 93.94 939,400.00 1.20% Aaa/AA+ 1.44
0.750% 11/07/2025 0.66% 1,001,206.33 5.18% 500.00 -61,806.33 NR 1.39 89236TKJ3 Toyota Motor Credit 09/20/2027 1,000,000.00 06/11/2024 986,000.00 98.77 987,740.00 1.18% A1/A+ 3.22
4.550% 5.02% 986,225.61 4.96% 12,765.28 1,514.39 A+ 2.91 06051GGA1 Bank of America 10/21/2027 1,000,000.00 12/08/2023 939,580.00 94.58 945,810.00 1.13% A1/A- 3.31
3.248% 4.98% 948,341.55 5.05% 6,315.56 -2,531.55 AA- 2.88 592179KF1 MetLife 01/06/2028 1,158,000.00 12/08/2023 1,156,135.62 100.01 1,158,081.06 1.38% Aa3/AA- 3.52
5.050% 5.09% 1,156,392.16 5.05% 28,427.29 1,688.90 AA- 3.10 6,625,518.13 6,569,150.76 7.98% 1.97
Total Corporate Bonds 6,737,000.00 3.53% 6,665,781.48 5.22% 63,908.55 -96,630.71 1.78 LAIF
9807828 LAIF 07/01/2024 641,840.75 04/15/2024 641,840.75 1.00 641,840.75 0.77% NR/NR 0.00
4.332% 4.33% 641,840.75 4.33% 0.00 0.00 NR 0.00
641,840.75 641,840.75 0.77% 0.00
Total LAIF 641,840.75 4.33% 641,840.75 4.33% 0.00 0.00 0.00 Money Market Funds
FIGXX Fidelity Govt MMF 07/01/2024 2,184,199.79 2,184,199.79 0.00 2,184,199.79 2.61% Aaa/AAA 0.00
5.200% 5.20% 2,184,199.79 5.20% 16,471.13 0.00 NR 0.00
2,184,199.79 2,184,199.79 2.61% 0.00
Total Money Market Funds 2,184,199.79 5.20% 2,184,199.79 5.20% 16,471.13 0.00 0.00 Run Date: 7/3/2024 - 11:00 AM
Amortizing
16 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, 2024
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
Supranational Securities
45950KCR9 IFC 10/16/2024 1,060,000.00 01/21/2021 1,100,216.40 98.83 1,047,555.60 1.27% Aaa/AAA 0.30
1.375% 0.35% 1,063,169.47 5.41% 3,036.46 -15,613.87 AAA 0.29 459058JL8 IBRD 10/28/2025 2,035,000.00 02/04/2021 2,033,473.75 94.26 1,918,129.95 2.43% Aaa/AAA 1.33
0.500% 0.52% 2,034,571.86 5.02% 1,780.62 -116,441.91 AAA 1.29 45818WFN1 IADB 07/19/2027 2,000,000.00 05/24/2024 2,008,860.00 100.71 2,014,160.00 2.40% Aaa/AAA 3.05
4.850% 4.70% 2,008,578.98 4.60% 17,783.33 5,581.02 AAA 2.77 5,142,550.15 4,979,845.55 6.11% 1.79
Total Supranational Securities 5,095,000.00 2.13% 5,106,320.31 4.94% 22,600.41 -126,474.76 1.66 U.S. Agencies
3133EKA63 FFCB 08/16/2024 2,000,000.00 08/16/2019 1,993,680.00 99.50 1,990,000.00 2.39% Aaa/AA+ 0.13
1.600% 1.67% 1,999,838.49 5.51% 12,000.00 -9,838.49 AA+ 0.12 3133EKP75 FFCB 09/17/2024 2,000,000.00 09/17/2019 1,977,420.00 99.16 1,983,140.00 2.39% Aaa/AA+ 0.22
1.600% 1.63% 1,999,034.08 5.56% 9,244.44 -15,894.08 AA+ 0.21 3133EK4Y9 FFCB 11/01/2024 1,043,000.00 05/07/2020 1,090,612.96 98.71 1,029,566.16 1.25% Aaa/AA+ 0.34
1.650% 0.62% 1,046,569.50 5.54% 2,868.25 -17,003.34 AA+ 0.33 3130AQXY4 FHLB 02/28/2025 2,000,000.00 02/28/2022 2,000,000.00 97.85 1,956,900.00 2.39% Aaa/AA+ 0.67
2.000% 07/28/2024 2.00% 2,000,000.00 5.33% 13,666.67 -43,100.00 AA+ 0.64 880591EW8 TVA 05/15/2025 2,000,000.00 05/11/2020 2,002,840.00 96.21 1,924,100.00 2.39% Aaa/AA+ 0.87
0.750% 0.72% 2,000,495.90 5.24% 1,916.67 -76,395.90 AA+ 0.85 3137EAEX3 FHLMC 09/23/2025 2,000,000.00 10/06/2020 1,991,000.00 94.51 1,890,240.00 2.39% Aaa/AA+ 1.23
0.375% 0.47% 1,997,768.89 5.03% 2,041.67 -107,528.89 AA+ 1.20 3135G06G3 FNMA 11/07/2025 2,000,000.00 01/20/2021 2,000,620.00 94.23 1,884,500.00 2.39% Aaa/AA+ 1.36
0.500% 0.49% 2,000,174.83 4.97% 1,500.00 -115,674.83 AA+ 1.31 3130AL7M0 FHLB 02/24/2026 2,000,000.00 02/24/2021 2,000,000.00 93.07 1,861,360.00 2.39% Aaa/AA+ 1.65
0.625% 08/24/2024 0.63% 2,000,000.00 5.06% 4,409.72 -138,640.00 AA+ 1.60 3133EN7A2 FFCB 10/26/2026 2,000,000.00 02/07/2023 1,972,388.00 97.65 1,952,920.00 2.37% Aaa/AA+ 2.32
3.625% 4.03% 1,982,760.54 4.70% 13,090.28 -29,840.54 AA+ 2.17 3130AXU63 FHLB 11/17/2026 1,000,000.00 11/17/2023 998,230.00 99.90 999,000.00 1.20% Aaa/AA+ 2.38
4.625% 4.69% 998,595.47 4.67% 5,652.78 404.53 AA+ 2.21
3130AQW66 FHLB 02/25/2027 1,000,000.00 02/25/2022 1,000,000.00 93.44 934,350.00 1.20% Aaa/AA+ 2.66
2.080% 08/25/2024 2.08% 1,000,000.00 4.74% 7,280.00 -65,650.00 AA+ 2.50 3130AUSN5 FHLB 10/01/2027 2,000,000.00 02/07/2023 1,967,600.00 96.55 1,930,900.00 2.37% Aaa/AA+ 3.25
3.500% 3.89% 1,977,335.48 4.66% 17,500.00 -46,435.48 AA+ 2.99 3130A07B0 FHLB 09/01/2028 1,265,000.00 10/31/2023 1,214,564.45 98.34 1,244,013.65 1.46% Aaa/AA+ 4.18
4.000% 4.94% 1,221,517.08 4.44% 16,866.67 22,496.57 AA+ 3.73 Run Date: 7/3/2024 - 11:00 AM
Amortizing
17 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, 2024
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
3133EPC45 FFCB 11/13/2028 2,000,000.00 11/28/2023 2,009,460.00 100.65 2,013,080.00 2.40% Aaa/AA+ 4.38
4.625% 4.52% 2,008,336.46 4.46% 12,333.33 4,743.54 AA+ 3.88 3133ERDH1 FFCB 04/30/2029 2,000,000.00 05/17/2024 2,030,572.00 101.45 2,029,060.00 2.43% Aaa/AA+ 4.84
4.750% 4.40% 2,029,834.71 4.41% 16,097.22 -774.71 AA+ 4.23 26,248,987.41 25,623,129.81 31.43% 2.00
Total U.S. Agencies 26,308,000.00 2.37% 26,262,261.43 4.97% 136,467.70 -639,131.62 1.83 U.S. Treasuries
912797LS4 U.S. Treasury 10/08/2024 2,000,000.00 06/11/2024 1,965,390.84 98.57 1,971,320.00 2.36% P-1/A-1+ 0.27
0.000% 5.40% 1,971,011.13 5.32% 0.00 308.87 F1+ 0.28
912828YM6 U.S. Treasury 10/31/2024 2,000,000.00 04/06/2021 2,067,656.26 98.72 1,974,320.00 2.40% Aaa/AA+ 0.34
1.500% 0.54% 2,006,381.69 5.40% 5,054.35 -32,061.69 AA+ 0.33 912828G38 U.S. Treasury 11/15/2024 2,000,000.00 07/23/2021 2,118,750.00 98.84 1,976,880.00 2.41% Aaa/AA+ 0.38
2.250% 0.44% 2,013,532.20 5.38% 5,747.28 -36,652.20 AA+ 0.37 912797LE5 U.S. Treasury 11/21/2024 2,054,000.00 05/23/2024 2,000,392.02 97.96 2,012,057.32 2.41% P-1/A-1+ 0.39
0.000% 5.37% 2,011,535.26 5.30% 0.00 522.06 F1+ 0.40
912797LP0 U.S. Treasury 12/12/2024 2,052,000.00 06/20/2024 2,000,663.66 97.67 2,004,126.84 2.40% P-1/A-1+ 0.45
0.000% 5.35% 2,003,648.33 5.30% 0.00 478.51 F1+ 0.46
912828ZF0 U.S. Treasury 03/31/2025 2,000,000.00 07/23/2021 1,998,359.38 96.57 1,931,420.00 2.39% Aaa/AA+ 0.75
0.500% 0.52% 1,999,666.27 5.21% 2,513.66 -68,246.27 AA+ 0.73 91282CAT8 U.S. Treasury 10/31/2025 2,000,000.00 04/06/2021 1,946,875.00 93.98 1,879,620.00 2.38% Aaa/AA+ 1.34
0.250% 0.84% 1,984,466.75 4.97% 842.39 -104,846.75 AA+ 1.30 912828M56 U.S. Treasury 11/15/2025 2,000,000.00 02/07/2022 2,041,015.62 96.43 1,928,520.00 2.41% Aaa/AA+ 1.38
2.250% 1.69% 2,014,982.47 4.97% 5,747.28 -86,462.47 AA+ 1.32 912828R36 U.S. Treasury 05/15/2026 2,000,000.00 06/07/2022 1,897,500.00 94.41 1,888,280.00 2.34% Aaa/AA+ 1.87
1.625% 3.01% 1,951,244.78 4.77% 4,150.82 -62,964.78 AA+ 1.80 91282CCW9 U.S. Treasury 08/31/2026 1,000,000.00 08/31/2021 997,798.42 91.97 919,690.00 1.20% Aaa/AA+ 2.17
0.750% 0.80% 999,045.10 4.69% 2,506.79 -79,355.10 AA+ 2.09 91282CCZ2 U.S. Treasury 09/30/2026 1,000,000.00 10/13/2021 990,351.56 92.04 920,350.00 1.19% Aaa/AA+ 2.25
0.875% 1.08% 995,625.47 4.64% 2,199.45 -75,275.47 AA+ 2.17 91282CDG3 U.S. Treasury 10/31/2026 2,000,000.00 02/07/2022 1,941,093.76 92.29 1,845,700.00 2.36% Aaa/AA+ 2.34
1.125% 1.78% 1,970,905.02 4.65% 3,790.76 -125,205.02 AA+ 2.25 912828U24 U.S. Treasury 11/15/2026 2,000,000.00 03/14/2022 2,003,593.76 94.10 1,882,040.00 2.40% Aaa/AA+ 2.38
2.000% 1.96% 2,001,827.40 4.65% 5,108.70 -119,787.40 AA+ 2.26 912828X88 U.S. Treasury 05/15/2027 2,000,000.00 02/07/2023 1,882,421.88 94.18 1,883,600.00 2.30% Aaa/AA+ 2.87
2.375% 3.88% 1,920,834.76 4.56% 6,066.58 -37,234.76 AA+ 2.71 Run Date: 7/3/2024 - 11:00 AM
Amortizing
18 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, 2024
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
91282CFU0 U.S. Treasury 10/31/2027 2,000,000.00 02/23/2023 1,992,109.38 98.88 1,977,580.00 2.39% Aaa/AA+ 3.34
4.125% 4.22% 1,994,382.95 4.49% 13,899.46 -16,802.95 AA+ 3.05 9128283F5 U.S. Treasury 11/15/2027 2,000,000.00 07/07/2023 1,823,750.00 93.02 1,860,460.00 2.23% Aaa/AA+ 3.38
2.250% 4.50% 1,863,494.82 4.50% 5,747.28 -3,034.82 AA+ 3.17 91282CHX2 U.S. Treasury 08/31/2028 2,000,000.00 05/23/2024 1,989,687.50 99.88 1,997,660.00 2.38% Aaa/AA+ 4.17
4.375% 4.51% 1,989,938.54 4.40% 29,245.92 7,721.46 AA+ 3.70 91282CJA0 U.S. Treasury 09/30/2028 2,000,000.00 02/08/2024 2,046,093.76 100.85 2,016,960.00 2.44% Aaa/AA+ 4.25
4.625% 4.07% 2,042,207.31 4.40% 23,251.37 -25,247.31 AA+ 3.77 91282CJA0 U.S. Treasury 09/30/2028 2,000,000.00 04/10/2024 2,015,937.50 100.85 2,016,960.00 2.41% Aaa/AA+ 4.25
4.625% 4.43% 2,015,147.45 4.40% 23,251.37 1,812.55 AA+ 3.77 35,719,440.30 34,887,544.16 42.78% 2.02
Total U.S. Treasuries 36,106,000.00 2.96% 35,749,877.69 4.85% 139,123.45 -862,333.54 1.87 83,426,418.90 81,826,696.14 100.00% 1.87
TOTAL PORTFOLIO 84,046,040.54 3.01% 83,556,392.93 4.95% 399,003.39 -1,729,696.80 1.73 TOTAL MARKET VALUE PLUS ACCRUED INTEREST 82,225,699.53
Run Date: 7/3/2024 - 11:00 AM
Amortizing
19 5.1.b
Packet Pg. 26
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Maturity Report
City of San Ramon June 30, 2024
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
Issuer YTM
Days to
Maturity
Book
FIGXX Fidelity Govt MMF 2,184,199.79 5.200% 07/01/2024 2,184,199.79 1 2,184,199.79 5.20% 1 9807828 LAIF 06/16/2021 641,840.75 4.332% 07/01/2024 641,840.75 1 641,840.75 4.33% 1 45685QGS2 ING US Funding LLC 10/31/2023 1,244,841.78 0.000% 07/26/2024 1,250,000.00 243 1,245,362.50 5.90% 26 71344TH21 PepsiCo 03/28/2024 1,244,116.58 0.000% 08/02/2024 1,250,000.00 94 1,243,987.50 5.27% 33 3133EKA63 FFCB 08/16/2019 1,999,838.49 1.600% 08/16/2024 2,000,000.00 1,780 1,990,000.00 1.67% 47 32100LCB9 First Missouri State Bank 09/13/2019 248,000.00 1.850% 09/13/2024 248,000.00 1,752 246,100.32 1.85% 75 24422LJG9 John Deere 03/28/2024 1,236,032.11 0.000% 09/16/2024 1,250,000.00 94 1,235,425.00 5.30% 78 3133EKP75 FFCB 09/17/2019 1,999,034.08 1.600% 09/17/2024 2,000,000.00 1,748 1,983,140.00 1.63% 79 912797LS4 U.S. Treasury 06/11/2024 1,971,011.13 0.000% 10/08/2024 2,000,000.00 19 1,971,320.00 5.40% 100 45950KCR9 IFC 01/21/2021 1,063,169.47 1.375% 10/16/2024 1,060,000.00 1,256 1,047,555.60 0.35% 108 06406RAL1 Bank of New York Mellon 06/28/2022 1,074,246.02 2.100% 10/24/2024 1,079,000.00 733 1,067,454.70 3.56% 116 912828YM6 U.S. Treasury 04/06/2021 2,006,381.69 1.500% 10/31/2024 2,000,000.00 1,181 1,974,320.00 0.54% 123 3133EK4Y9 FFCB 05/07/2020 1,046,569.50 1.650% 11/01/2024 1,043,000.00 1,515 1,029,566.16 0.62% 124 912828G38 U.S. Treasury 07/23/2021 2,013,532.20 2.250% 11/15/2024 2,000,000.00 1,073 1,976,880.00 0.44% 138 912797LE5 U.S. Treasury 05/23/2024 2,011,535.26 0.000% 11/21/2024 2,054,000.00 38 2,012,057.32 5.37% 144 912797LP0 U.S. Treasury 06/20/2024 2,003,648.33 0.000% 12/12/2024 2,052,000.00 10 2,004,126.84 5.35% 165 64952WDL4 New York Life 01/22/2020 999,597.12 2.000% 01/22/2025 1,000,000.00 1,621 980,810.00 2.08% 206 3130AQXY4 FHLB 02/28/2022 2,000,000.00 2.000% 02/28/2025 2,000,000.00 853 1,956,900.00 2.00% 243 912828ZF0 U.S. Treasury 07/23/2021 1,999,666.27 0.500% 03/31/2025 2,000,000.00 1,073 1,931,420.00 0.52% 274 437076CM2 Home Depot 03/28/2022 499,772.68 2.700% 04/15/2025 500,000.00 825 489,855.00 2.76% 289 880591EW8 TVA 05/11/2020 2,000,495.90 0.750% 05/15/2025 2,000,000.00 1,511 1,924,100.00 0.72% 319 3137EAEX3 FHLMC 10/06/2020 1,997,768.89 0.375% 09/23/2025 2,000,000.00 1,363 1,890,240.00 0.47% 450 459058JL8 IBRD 02/04/2021 2,034,571.86 0.500% 10/28/2025 2,035,000.00 1,242 1,918,129.95 0.52% 485 91282CAT8 U.S. Treasury 04/06/2021 1,984,466.75 0.250% 10/31/2025 2,000,000.00 1,181 1,879,620.00 0.84% 488 3135G06G3 FNMA 01/20/2021 2,000,174.83 0.500% 11/07/2025 2,000,000.00 1,257 1,884,500.00 0.49% 495 912828M56 U.S. Treasury 02/07/2022 2,014,982.47 2.250% 11/15/2025 2,000,000.00 874 1,928,520.00 1.69% 503 637639AE5 National Securities Clearing 01/07/2021 1,001,206.33 0.750% 12/07/2025 1,000,000.00 1,270 939,400.00 0.66% 525 3130AL7M0 FHLB 02/24/2021 2,000,000.00 0.625% 02/24/2026 2,000,000.00 1,222 1,861,360.00 0.63% 604 02589AEN8 American Express National Bank 03/22/2023 247,857.35 5.000% 03/23/2026 248,000.00 466 248,034.72 5.04% 631 02007GM42 Ally Bank 03/23/2023 247,857.22 5.050% 03/23/2026 248,000.00 465 248,203.36 5.09% 631 910286GB3 United Fidelity Bank FSB 03/30/2023 248,000.00 5.000% 03/30/2026 248,000.00 458 248,151.28 5.00% 638 912828R36 U.S. Treasury 06/07/2022 1,951,244.78 1.625% 05/15/2026 2,000,000.00 754 1,888,280.00 3.01% 684 795451AK9 Sallie Mae Bank 08/11/2021 248,000.00 1.100% 08/11/2026 248,000.00 1,054 229,318.16 1.10% 772 91282CCW9 U.S. Treasury 08/31/2021 999,045.10 0.750% 08/31/2026 1,000,000.00 1,034 919,690.00 0.80% 792 91282CCZ2 U.S. Treasury 10/13/2021 995,625.47 0.875% 09/30/2026 1,000,000.00 991 920,350.00 1.08% 822 3133EN7A2 FFCB 02/07/2023 1,982,760.54 3.625% 10/26/2026 2,000,000.00 509 1,952,920.00 4.03% 848 Run Date: 7/3/2024 - 11:00 AM
Amortizing
20 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, 2024
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
Issuer YTM
Days to
Maturity
Book
91282CDG3 U.S. Treasury 02/07/2022 1,970,905.02 1.125% 10/31/2026 2,000,000.00 874 1,845,700.00 1.78% 853 108622PJ4 Bridgewater Bank/Bloomington MN 11/06/2023 247,708.66 5.100% 11/03/2026 248,000.00 237 249,225.12 5.15% 856 912828U24 U.S. Treasury 03/14/2022 2,001,827.40 2.000% 11/15/2026 2,000,000.00 839 1,882,040.00 1.96% 868 3130AXU63 FHLB 11/17/2023 998,595.47 4.625% 11/17/2026 1,000,000.00 226 999,000.00 4.69% 870 3130AQW66 FHLB 02/25/2022 1,000,000.00 2.080% 02/25/2027 1,000,000.00 856 934,350.00 2.08% 970 912828X88 U.S. Treasury 02/07/2023 1,920,834.76 2.375% 05/15/2027 2,000,000.00 509 1,883,600.00 3.88% 1,049 45818WFN1 IADB 05/24/2024 2,008,578.98 4.850% 07/19/2027 2,000,000.00 37 2,014,160.00 4.70% 1,114 89236TKJ3 Toyota Motor Credit 06/11/2024 986,225.61 4.550% 09/20/2027 1,000,000.00 19 987,740.00 5.02% 1,177 3130AUSN5 FHLB 02/07/2023 1,977,335.48 3.500% 10/01/2027 2,000,000.00 509 1,930,900.00 3.89% 1,188 06051GGA1 Bank of America 12/08/2023 948,341.55 3.248% 10/21/2027 1,000,000.00 205 945,810.00 4.98% 1,208 91282CFU0 U.S. Treasury 02/23/2023 1,994,382.95 4.125% 10/31/2027 2,000,000.00 493 1,977,580.00 4.22% 1,218 9128283F5 U.S. Treasury 07/07/2023 1,863,494.82 2.250% 11/15/2027 2,000,000.00 359 1,860,460.00 4.50% 1,233 592179KF1 MetLife 12/08/2023 1,156,392.16 5.050% 01/06/2028 1,158,000.00 205 1,158,081.06 5.09% 1,285 32114VCH8 First National Bank of Michigan 03/15/2023 248,000.00 4.600% 03/15/2028 248,000.00 473 247,025.36 4.60% 1,354 062119BK7 Bank Five Nine 03/20/2023 248,000.00 4.650% 03/20/2028 248,000.00 468 247,471.76 4.65% 1,359 2546732U9 Discover Bank 03/22/2023 247,595.49 5.000% 03/21/2028 248,000.00 466 250,326.24 5.05% 1,360 12547CAX6 CIBC Bank USA 04/14/2023 247,530.42 4.450% 04/13/2028 248,000.00 443 245,859.76 4.51% 1,383 91282CHX2 U.S. Treasury 05/23/2024 1,989,938.54 4.375% 08/31/2028 2,000,000.00 38 1,997,660.00 4.51% 1,523 3130A07B0 FHLB 10/31/2023 1,221,517.08 4.000% 09/01/2028 1,265,000.00 243 1,244,013.65 4.94% 1,524 91282CJA0 U.S. Treasury 02/08/2024 2,015,147.45 4.625% 09/30/2028 2,000,000.00 143 2,016,960.00 4.43% 1,553 91282CJA0 U.S. Treasury 02/08/2024 2,042,207.31 4.625% 09/30/2028 2,000,000.00 143 2,016,960.00 4.07% 1,553 949764HK3 Wells Fargo Bank NA 11/07/2023 247,522.72 5.050% 11/07/2028 248,000.00 236 252,384.64 5.10% 1,591 90355GHQ2 UBS Bank USA 11/08/2023 247,522.42 5.000% 11/08/2028 248,000.00 235 251,901.04 5.05% 1,592 61768EE82 Morgan Stanley Private Bank 11/08/2023 247,526.74 5.050% 11/08/2028 248,000.00 235 252,208.56 5.10% 1,592 3133EPC45 FFCB 11/28/2023 2,008,336.46 4.625% 11/13/2028 2,000,000.00 215 2,013,080.00 4.52% 1,597 3133ERDH1 FFCB 05/17/2024 2,029,834.71 4.750% 04/30/2029 2,000,000.00 44 2,029,060.00 4.40% 1,765 Net Maturities and Averages 83,556,392.93 84,046,040.54 81,826,696.14 3.01% 684 Run Date: 7/3/2024 - 11:00 AM
Amortizing
21 5.1.b
Packet Pg. 28
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, 2024
Issuer Investments
Number of Par
Value
Book
Value
% of
Portfolio YTM Maturity
Book Days to
U.S. Treasury 19 36,106,000.00 35,749,877.69 42.79 2.96 736 FFCB 6 11,043,000.00 11,066,373.77 13.24 3.00 800
FHLB 6 9,265,000.00 9,197,448.04 11.01 2.80 842
Fidelity Govt MMF 1 2,184,199.79 2,184,199.79 2.61 5.20 1 IBRD 1 2,035,000.00 2,034,571.86 2.43 0.52 485
IADB 1 2,000,000.00 2,008,578.98 2.40 4.70 1,114
TVA 1 2,000,000.00 2,000,495.90 2.39 0.72 319
FNMA 1 2,000,000.00 2,000,174.83 2.39 0.49 495
FHLMC 1 2,000,000.00 1,997,768.89 2.39 0.47 450
ING US Funding 1 1,250,000.00 1,244,841.78 1.49 5.90 26 PepsiCo 1 1,250,000.00 1,244,116.58 1.49 5.27 33
John Deere 1 1,250,000.00 1,236,032.11 1.48 5.30 78
MetLife 1 1,158,000.00 1,156,392.16 1.38 5.09 1,285
Bank of New York Mellon 1 1,079,000.00 1,074,246.02 1.29 3.56 116 IFC 1 1,060,000.00 1,063,169.47 1.27 0.35 108
National Securities Clearing 1 1,000,000.00 1,001,206.33 1.20 0.66 525 New York Life 1 1,000,000.00 999,597.12 1.20 2.08 206
Toyota 1 1,000,000.00 986,225.61 1.18 5.02 1,177
Bank of America 1 1,000,000.00 948,341.55 1.13 4.98 1,208 LAIF 1 641,840.75 641,840.75 0.77 4.33 1
Home Depot 1 500,000.00 499,772.68 0.60 2.76 289
First Missouri State Bank 1 248,000.00 248,000.00 0.30 1.85 75 First National Bank of Michigan 1 248,000.00 248,000.00 0.30 4.60 1,354 Bank Five Nine 1 248,000.00 248,000.00 0.30 4.65 1,359
Sallie Mae Bank 1 248,000.00 248,000.00 0.30 1.10 772
United Fidelity Bank FSB 1 248,000.00 248,000.00 0.30 5.00 638 Ally Bank 1 248,000.00 247,857.22 0.30 5.09 631
American Express National Bank 1 248,000.00 247,857.35 0.30 5.04 631 Bridgewater Bank/Bloomington MN 1 248,000.00 247,708.66 0.30 5.15 856 Discover Bank 1 248,000.00 247,595.49 0.30 5.05 1,360
CIBC Bank USA 1 248,000.00 247,530.42 0.30 4.51 1,383
Wells Fargo 1 248,000.00 247,522.72 0.30 5.10 1,591
UBS Bank USA 1 248,000.00 247,522.42 0.30 5.05 1,592
Morgan Stanley Private Bank 1 248,000.00 247,526.74 0.30 5.10 1,592 Total and Average 62 84,046,040.54 83,556,392.93 100.00% 3.01 684 Run Date: 7/3/2024 - 11:00 AM
Amortizing
22 5.1.b
Packet Pg. 29
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, 2024
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
23,122.82 1,389,188.42
399,003.39 399,003.39
-261,100.11 -229,378.33
161,026.10 1,558,813.48
41,293.46 531,416.97
0.00 0.00
202,319.56 2,090,230.45
Run Date: 7/3/2024 - 11:00 AM
Amortizing
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Packet Pg. 30
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Income Earned
City of San Ramon June 01, 2024 - June 30, 2024
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
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 248,000.00 247,850.43 247,857.22 2,401.86 0.00 3,431.23 1,029.37 6.79 1,036.16 02589AEN8 American Express National Bank 03/23/2026 248,000.00 247,850.57 247,857.35 2,412.05 0.00 3,431.23 1,019.18 6.78 1,025.96 910286GB3 United Fidelity Bank FSB 03/30/2026 248,000.00 248,000.00 248,000.00 101.92 0.00 67.95 -33.97 0.00 -33.97 795451AK9 Sallie Mae Bank 08/11/2026 248,000.00 248,000.00 248,000.00 829.61 0.00 1,053.83 224.22 0.00 224.22 108622PJ4 Bridgewater Bank/Bloomington MN 11/03/2026 248,000.00 247,698.45 247,708.66 1,004.91 1,074.21 970.26 1,039.56 10.21 1,049.77 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 248,000.00 247,586.56 247,595.49 2,412.05 0.00 3,431.23 1,019.18 8.92 1,028.10 12547CAX6 CIBC Bank USA 04/13/2028 248,000.00 247,520.23 247,530.42 1,451.31 0.00 2,358.38 907.07 10.19 917.26 949764HK3 Wells Fargo Bank NA 11/07/2028 248,000.00 247,513.72 247,522.72 857.81 1,063.68 823.50 1,029.37 9.00 1,038.37 90355GHQ2 UBS Bank USA 11/08/2028 248,000.00 247,513.42 247,522.42 815.34 1,053.15 781.37 1,019.18 9.00 1,028.18 61768EE82 Morgan Stanley Private Bank 11/08/2028 248,000.00 247,517.82 247,526.74 823.50 0.00 1,852.87 1,029.37 8.92 1,038.29 Certificates of Deposit - Sub Total 3,224,000.00 3,221,051.20 3,221,121.01 15,026.41 5,139.37 20,432.15 10,545.11 69.81 10,614.92 Commercial Paper
45685QGS2 ING US Funding LLC 07/26/2024 1,250,000.00 1,238,889.99 1,244,841.78 0.00 0.00 0.00 0.00 5,951.79 5,951.79 71344TH21 PepsiCo 08/02/2024 1,250,000.00 1,238,784.73 1,244,116.58 0.00 0.00 0.00 0.00 5,331.85 5,331.85 24422LJG9 John Deere 09/16/2024 1,250,000.00 1,230,702.26 1,236,032.11 0.00 0.00 0.00 0.00 5,329.85 5,329.85 Commercial Paper - Sub Total 3,750,000.00 3,708,376.97 3,724,990.47 0.00 0.00 0.00 0.00 16,613.50 16,613.50 Corporate Bonds
06406RAL1 Bank of New York Mellon 10/24/2024 1,079,000.00 1,073,036.68 1,074,246.02 2,328.84 0.00 4,217.09 1,888.25 1,209.34 3,097.59 64952WDL4 New York Life 01/22/2025 1,000,000.00 999,539.28 999,597.12 7,166.67 0.00 8,833.33 1,666.66 57.84 1,724.50 437076CM2 Home Depot 04/15/2025 500,000.00 499,749.54 499,772.68 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 1,001,274.00 1,001,206.33 3,625.00 3,750.00 500.00 625.00 -67.67 557.33 89236TKJ3 Toyota Motor Credit 09/20/2027 1,000,000.00 0.00 986,225.61 0.00 -10,237.50 12,765.28 2,527.78 225.61 2,753.39 06051GGA1 Bank of America 10/21/2027 1,000,000.00 947,083.70 948,341.55 3,608.89 0.00 6,315.56 2,706.67 1,257.85 3,964.52 592179KF1 MetLife 01/06/2028 1,158,000.00 1,156,355.33 1,156,392.16 23,554.04 0.00 28,427.29 4,873.25 36.83 4,910.08 Corporate Bonds - Sub Total 6,737,000.00 5,677,038.54 6,665,781.48 42,008.44 -6,487.50 63,908.55 15,412.61 2,742.94 18,155.55 LAIF
9807828 LAIF 07/01/2024 641,840.75 641,840.75 641,840.75 0.00 0.00 0.00 0.00 0.00 0.00 Run Date: 7/3/2024 - 11:00 AM
Amortizing
24 5.1.b
Packet Pg. 31
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Income Earned
City of San Ramon June 01, 2024 - June 30, 2024
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
LAIF - Sub Total 641,840.75 641,840.75 641,840.75 0.00 0.00 0.00 0.00 0.00 0.00 Money Market Funds
FIGXX Fidelity Govt MMF 07/01/2024 2,184,199.79 4,363,131.46 2,184,199.79 14,720.95 14,720.95 16,471.13 16,471.13 0.00 16,471.13 Money Market Funds - Sub Total 2,184,199.79 4,363,131.46 2,184,199.79 14,720.95 14,720.95 16,471.13 16,471.13 0.00 16,471.13 Supranational Securities
45950KCR9 IFC 10/16/2024 1,060,000.00 1,064,066.49 1,063,169.47 1,821.88 0.00 3,036.46 1,214.58 -897.02 317.56 459058JL8 IBRD 10/28/2025 2,035,000.00 2,034,545.89 2,034,571.86 932.71 0.00 1,780.62 847.91 25.97 873.88 45818WFN1 IADB 07/19/2027 2,000,000.00 2,008,805.36 2,008,578.98 9,700.00 0.00 17,783.33 8,083.33 -226.38 7,856.95 Supranational Securities - Sub Total 5,095,000.00 5,107,417.73 5,106,320.31 12,454.59 0.00 22,600.41 10,145.82 -1,097.42 9,048.40 U.S. Agencies
3133EKQU3 FFCB 06/13/2024 0.00 999,988.76 0.00 9,100.00 9,750.00 0.00 650.00 11.24 661.24 3133EKA63 FFCB 08/16/2024 2,000,000.00 1,999,736.67 1,999,838.49 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 1,998,670.29 1,999,034.08 6,577.78 0.00 9,244.44 2,666.66 363.79 3,030.45 3133EK4Y9 FFCB 11/01/2024 1,043,000.00 1,047,425.00 1,046,569.50 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 2,000,541.55 2,000,495.90 666.67 0.00 1,916.67 1,250.00 -45.65 1,204.35 3137EAEX3 FHLMC 09/23/2025 2,000,000.00 1,997,622.83 1,997,768.89 1,416.67 0.00 2,041.67 625.00 146.05 771.05 3135G06G3 FNMA 11/07/2025 2,000,000.00 2,000,185.25 2,000,174.83 666.67 0.00 1,500.00 833.33 -10.41 822.92 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 1,982,162.52 1,982,760.54 7,048.61 0.00 13,090.28 6,041.67 598.02 6,639.69 3130AXU63 FHLB 11/17/2026 1,000,000.00 998,547.94 998,595.47 1,798.61 0.00 5,652.78 3,854.17 47.53 3,901.70 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 1,976,774.19 1,977,335.48 11,666.67 0.00 17,500.00 5,833.33 561.29 6,394.62 3130A07B0 FHLB 09/01/2028 1,265,000.00 1,220,648.00 1,221,517.08 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 2,008,490.15 2,008,336.46 4,625.00 0.00 12,333.33 7,708.33 -153.69 7,554.64 3133ERDH1 FFCB 04/30/2029 2,000,000.00 2,030,331.95 2,029,834.71 8,180.56 0.00 16,097.22 7,916.66 -497.25 7,419.41 U.S. Agencies - Sub Total 26,308,000.00 27,261,125.10 26,262,261.43 94,412.75 9,750.00 136,467.70 51,804.95 1,136.32 52,941.27 U.S. Treasuries
912797JZ1 U.S. Treasury 06/04/2024 0.00 1,749,218.34 0.00 0.00 0.00 0.00 0.00 781.66 781.66 912797LS4 U.S. Treasury 10/08/2024 2,000,000.00 0.00 1,971,011.13 0.00 0.00 0.00 0.00 5,620.29 5,620.29 912828YM6 U.S. Treasury 10/31/2024 2,000,000.00 2,007,938.19 2,006,381.69 2,608.70 0.00 5,054.35 2,445.65 -1,556.51 889.14 Run Date: 7/3/2024 - 11:00 AM
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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Income Earned
City of San Ramon June 01, 2024 - June 30, 2024
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
912828G38 U.S. Treasury 11/15/2024 2,000,000.00 2,016,473.99 2,013,532.20 2,078.80 0.00 5,747.28 3,668.48 -2,941.78 726.70 912797LE5 U.S. Treasury 11/21/2024 2,054,000.00 2,002,801.37 2,011,535.26 0.00 0.00 0.00 0.00 8,733.88 8,733.88 912797LP0 U.S. Treasury 12/12/2024 2,052,000.00 0.00 2,003,648.33 0.00 0.00 0.00 0.00 2,984.67 2,984.67 912828ZF0 U.S. Treasury 03/31/2025 2,000,000.00 1,999,629.73 1,999,666.27 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 1,983,511.83 1,984,466.75 434.78 0.00 842.39 407.61 954.91 1,362.52 912828M56 U.S. Treasury 11/15/2025 2,000,000.00 2,015,876.05 2,014,982.47 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 1,949,106.40 1,951,244.78 1,501.36 0.00 4,150.82 2,649.46 2,138.39 4,787.85 91282CCW9 U.S. Treasury 08/31/2026 1,000,000.00 999,008.93 999,045.10 1,895.38 0.00 2,506.79 611.41 36.17 647.58 91282CCZ2 U.S. Treasury 09/30/2026 1,000,000.00 995,465.82 995,625.47 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 1,969,881.75 1,970,905.02 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 2,001,890.56 2,001,827.40 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 1,918,570.74 1,920,834.76 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 1,994,244.60 1,994,382.95 7,173.91 0.00 13,899.46 6,725.55 138.35 6,863.90 9128283F5 U.S. Treasury 11/15/2027 2,000,000.00 1,860,173.52 1,863,494.82 2,078.80 0.00 5,747.28 3,668.48 3,321.29 6,989.77 91282CHX2 U.S. Treasury 08/31/2028 2,000,000.00 1,989,740.35 1,989,938.54 22,112.77 0.00 29,245.92 7,133.15 198.19 7,331.34 91282CJA0 U.S. Treasury 09/30/2028 4,000,000.00 4,058,462.71 4,057,354.76 31,338.80 0.00 46,502.73 15,163.93 -1,107.95 14,055.98 U.S. Treasuries - Sub Total 36,106,000.00 33,511,994.89 35,749,877.69 82,476.97 0.00 139,123.45 56,646.48 21,828.31 78,474.79 Grand Total 84,046,040.54 83,491,976.65 83,556,392.93 261,100.11 23,122.82 399,003.39 161,026.10 41,293.46 202,319.56 Run Date: 7/3/2024 - 11:00 AM
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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, 2024 - June 30, 2024
CUSIP Par Value Sale Date Days Held Maturity/Sales Realized Issuer Purchase Date Coupon Rate Maturity Date Term Book Value Proceeds Gain/Loss U.S. Agencies
3133EKQU3 06/20/2019 1,000,000.00 06/13/2024 1,820 1,000,000.00 1,000,000.00 0.00 FFCB 1.950% 06/13/2024 1,820
Total U.S. Agencies 1,000,000.00 1,000,000.00 0.00
U.S. Treasuries
912797JZ1 04/10/2024 1,750,000.00 06/04/2024 55 1,750,000.00 1,750,000.00 0.00 U.S. Treasury 0.000% 06/04/2024 55
Total U.S. Treasuries 1,750,000.00 1,750,000.00 0.00
Grand Total 2,750,000.00 2,750,000.00 0.00
Run Date: 7/3/2024 - 11:00 AM
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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, Transaction Report
City of San Ramon June 01, 2024 - June 30, 2024
Transaction Transaction Security Security Maturity
Date Type ID Description Date Purchases Redemptions Interest Deposits Withdrawals 06/03/2024 Interest 108622PJ4 BRIDWA 5.1 11/03/26 11/03/2026 - - 1,074.21 - - 06/03/2024 Interest FIGXX Fidelity Govt MMF - - 14,720.95 - - 06/04/2024 Maturity 912797JZ1 TREASURY BILL 06/04/2024 - 1,750,000.00 - - - 06/07/2024 Interest 949764HK3 WFC 5.05 11/07/28 11/07/2028 - - 1,063.68 - - 06/07/2024 Interest 637639AE5 NSCCLF 0 3/4 12/07/25 12/07/2025 - - 3,750.00 - - 06/10/2024 Interest 90355GHQ2 UBS 5 11/08/28 11/08/2028 - - 1,053.15 - - 06/11/2024 Purchase 89236TKJ3 TOYOTA 4.55 09/20/27 09/20/2027 -986,000.00 - -10,237.50 - - 06/11/2024 Purchase 912797LS4 TREASURY BILL 10/08/2024 -1,965,390.83 - - - - 06/13/2024 Interest 3133EKQU3 FFCB 1.95 06/13/24 06/13/2024 - - 9,750.00 - - 06/13/2024 Maturity 3133EKQU3 FFCB 1.95 06/13/24 06/13/2024 - 1,000,000.00 - - - 06/17/2024 Interest 32114VCH8 FNBMIC 4.6 03/15/28 03/15/2028 - - 968.90 - - 06/20/2024 Purchase 912797LP0 TREASURY BILL 12/12/2024 -2,000,663.66 - - - - 06/20/2024 Interest 062119BK7 FBFCEN 4.65 03/20/28 03/20/2028 - - 979.43 - - Grand Total: -4,952,054.49 2,750,000.00 23,122.82 0.00 0.00 Run Date: 7/3/2024 - 11:00 AM
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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 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: 7/3/2024 - 11:00 AM
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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending June 30, JUNE 2024
MONTHLY COMMENTARY
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Attachment: C: Monthly Commentary at June 30, 2024 (4420 : Quarterly Investment
OBSERVATIONS AND EXPECTATIONS
• U.S. economic growth should slow in the second half of 2024, but not be negative
• The unemployment rate pushed above 4% in June from the cycle low of 3.4% • Fed Funds futures are pointing to two .25% cuts this year and four next year • Intermediate-term rates have increased this year, but are lower than last year’s peak
Expected Downshift in Economic Growth
• Economists surveyed by
Bloomberg are expecting
growth to slow in the coming
quarters.
• Higher inflation and interest
rates have put a crimp in
consumer spending.
6.2%
3.3%
7.0%
-2.0%
-0.6%
2.7% 2.6% 2.2% 2.1%
4.9%
3.4%
1.3%
2.0% 1.6% 1.6% 1.8%
-3%
-2%
-1%
0%
1%
2%
3%
4%
5%
6%
7%
8%
Q2
2021
Q3
2021
Q4
2021
Q1
2022
Q2
2022
Q3
2022
Q4
2022
Q1
2023
Q2
2023
Q3
2023
Q4
2023
Q1
2024
Q2
2024
Q3
2024
Q4
2024
Q1
2025
QoQ GDP
Estimates
SOURCE: BLOOMBERG, BUREAU OF ECONOMIC ANALYSIS,
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Attachment: C: Monthly Commentary at June 30, 2024 (4420 : Quarterly Investment The Unemployment Rate Climbed Above 4%
• The U.S. just finished its second longest
streak of having the unemployment rate
below 4%.
• The Federal Reserve and most economists
expect the unemployment rate to push
higher with job growth slowing later this
year.
The Fed vs. The Market
• The Federal Reserve is
expecting one .25% cut this year
to the Fed Funds Rate and four
next year.
• The Fed Funds futures market is
expecting two .25% cuts this
year and four next year to push
the Fed Funds rate down to
3.97% from its current rate of
5.38%
8 35
20 27
4 13
27 0
5 10
15 20
25 30
35 40
19471950195319561959196219651968197119741977198019831986198919921995199820012004200720102013201620192022 Number of Consecutive Months Below 4% Unemployment
SOURCE: BLOOMBERG, BUREAU OF LABOR STATISTICS
5.38%
4.98%
3.97%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24
Current Fed Funds Rate vs. Dec 2024 Fed Funds Futures Rate vs.
Dec 2025 Fed Funds Futures Rate
Fed Funds Rate Fed Funds Dec 2024 Fed Funds Dec 2025
SOURCE: BLOOMBERG
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Attachment: C: Monthly Commentary at June 30, 2024 (4420 : Quarterly Investment Intermediate-Term Rates Higher In 2024
• Both the 2-year and 5-year U.S.
Treasury rates had their cycle peaks
last October at 5.22% and 4.96%,
respectively.
• Intermediate-term U.S. Treasury
rates have climbed higher this year
as market participants realized
inflation remains sticky and Fed will
cut the Fed Funds rate fewer times
than was anticipated at the start of
2024.
Takeaways • With intermediate-term interest rates near their highest levels since 2007, locking in those yields will most likely prove prudent. • It will be interesting to observe Federal Reserve policy later this year as inflation probably remains above their target, with unemployment increasing.
3.70%
3.90%
4.10%
4.30%
4.50%
4.70%
4.90%
5.10%
Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24
YTD 2Y and 5Y Treasury Rates
2Y 5Y
SOURCE: BLOOMBERG
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Attachment: C: Monthly Commentary at June 30, 2024 (4420 : Quarterly Investment 866.633.3371 | meederpublicfunds.com
Commentary offered for information and educational purposes only. Opinions and forecasts regarding markets, securities, products, portfolios or holdings are given as of the date provided and are subject to change at any time. No offer to sell, solicitation, or recommendation of any security or investment product is intended. Certain information and data has been supplied by unaffiliated third-parties as indicated. Although Meeder believes the information is reliable, it cannot warrant the accuracy, timeliness or suitability of the information or materials offered by third-parties. Investment advisory services are offered by Meeder Public Funds, Inc. © 2024 Meeder Investment Management, Inc. 0250-MPF-4/12/24
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Attachment: C: Monthly Commentary at June 30, 2024 (4420 : Quarterly Investment City of San Ramon
Investment Report - Supplementary Information
Investments Held by Trustees at June 30, 2024
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 1.00 - 2010 POB
Computershare Money Market 1,690,000.00 1,690,000.00 2010 POB Computershare Money Market 202,012.35 202,012.35 2010 POB Computershare Money Market 237,850.61 237,850.61 2010 POB Computershare Money Market 430.93 430.93 2010 POB
Dreyfus Govt Cash Mgmt X9USDYRUT 5.09% n/a 137,058.16 137,058.16 2019 COP Dreyfus Govt Cash Mgmt X9USDYRUT 5.13% 5.46 5.46 2019 COP $ 2,267,359.25 2,267,360.25 $
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Attachment: D: Investments Held by Trustees at June 30, 2024 (4420 : 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.
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Attachment: E: Investment Terminology (4420 : 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.
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Attachment: E: Investment Terminology (4420 : Quarterly Investment Report)
FINANCE COMMITTEE STAFF REPORT
DATE: July 22, 2024
TO: Finance Committee/City Manager
FROM: Debbie Chamberlain, Community Development Director By: Lauren Barr, Division Manager
SUBJECT: Nexus Fee Study Allocation- Fund 201
RECOMMENDED ACTION
Staff recommends that the Finance Committee review the staff report for the allocation and use of Fund 201, Planning Cost Recovery Fees to conduct a Nexus Study for Impact and Cost Recovery Fees for Public Facilities and Services; and recommend approval to the full City Council.
BACKGROUND
The City Council priorities and goals, among other measures, includes a Council priority to “Maintain a Secure Financial Base”. The Planning Services Division has identified a Budget Action Item to proceed with a Nexus Fee Impact Study for Fiscal Year (FY) 24-25. In March 2024, Staff released a Request for Proposal (RFP) process to undertake the scope of work. Due to lack of responses, staff released the RFP in May 2024 resulting in several competitive bids. Staff reviewed proposals, and selected the proposal from DTA (formerly David Taussig & Associates), the contract amount of $97,980 has been established and the specific appropriation amount from the 201 Fund could be requested.
The City currently assesses the impact fees on new development to mitigate the fiscal impact on public facilities and services such as, housing, drainage, beautification, child care, park facilities and equipment. The City also assess certain fees at the time of building permit issuance (backend development impact fees) to cover cost associated with updating and implementing the City’s General Plan, Zoning Ordinance, specific plans, and other implementation policies of the General Plan.
ANALYSIS
A Nexus Fee Study is necessary to ensure that the Recovery Fees, which are one-time charges levied upon new development, do not exceed the reasonable cost of providing the service or purpose for which the fee is charged. This Study helps ensure that the City Impact Fees meet the constitutional (i.e., the Nolan and Dolan U.S. Supreme Court rulings), Proposition 218 standards,
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and statutory requirements of the California Mitigation Fee Act - AB 1600 (Government Code Section 66000 et seq.).
As part of their work, DTA will prepare an analysis and recommendations for collection of the following fees:
Existing Fees
• Affordable Housing Impact Fee
• Building Permit Back-end Fees charge on Percentage of Valuation • Commercial Linkage Fee
• Creek Study Fee
• Drainage Mitigation Fee
• General Plan Update and Zoning Ordinance Update Cost Recovery Fee • Open Space Impact Fee
• Park Dedication In-Lieu Fee and Development Impact Fee Study • Private Sector Arts and Beautification Contribution Requirement • School Age Child Care Impact Fee
Proposed Fee(s)
• Green Infrastructure Fee
FISCAL IMPLICATIONS
There is no fiscal impact to the General Fund because the Study is proposed to be funded by the existing Planning Cost Recovery Fee. The Recovery Fee is charged at the time of issuance of building permits and would be appropriate for funding the proposed Study. The Planning Cost Recovery fees are held in a separate fund (Fund 201) and require specific authorization and appropriation for use.
STEPS FOLLOWING APPROVAL
Staff to proceed to the City Council for authorization and appropriation of the Fund 201 Planning Cost Recovery Fees to fund the consultant contract.
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