Agenda packet, regular meeting, first session — Santa Fe Springs City Council, June 21, 2022 (part 1 of 2)

Agenda
06-21-22 AGENDA.PDF
Meeting Materials
JUNE 21, 2022, MEETING VIDEO
06-21-22 AGENDA PACKET.PDF

1. Documents:

2. Documents:
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AGENDA

REGULAR MEETINGS OF THE SANTA FE SPRINGS

PUBLIC FINANCING AUTHORITY

WATER UTILITY AUTHORITY

HOUSING SUCCESSOR

SUCCESSOR AGENCY

AND CITY COUNCIL
June 21, 2022
6:00 P.M.

Juanita Martin, Councilmember
John M. Mora, Councilmember
Jay Sarno, Councilmember
Joe Angel Zamora, Mayor Pro Tem
Annette Rodriguez, Mayor
Council Chambers
11710 Telegraph Road
Santa Fe Springs, CA 90670
You may attend the City Council meeting telephonically or electronically using the following means:

Electronically using Zoom: Go to Zoom.us and click on “Join A Meeting” or use the following link:
https://zoom.us/j/521620472?pwd=U3cyK1RuKzY1ekVGZFdKQXNZVzh4Zz09 Zoom Meeting ID: 521620472 Password: 659847
Telephonically: Dial: 888-475-4499 Meeting ID: 521620472 Public Comment: The public is encouraged to
address City Council on any matter listed on the
agenda or on any other matter within its
jurisdiction. If you wish to address the City
Council, please use the "Raise Hand" function
via Zoom once the Mayor opens Public
Comment during the meeting. You may also
submit comments in writing by sending them to
the City Clerk's Office at
[email protected]. All written
comments received by 12:00 p.m. the day of the
City Council Meeting will be distributed to the
City Council and made a part of the official record
of the meeting. Written comments will not be
read at the meeting, only the name of the person
submitting the comment will be announced.

Americans with Disabilities Act: In compliance
with the ADA, if you need special assistance to
participate in a City meeting or other services
offered by this City, please contact the City Clerk’s
Office. Notification of at least 48 hours prior to the
meeting or time when services are needed will
assist the City staff in assuring that reasonable
arrangements can be made to provide
accessibility to the meeting or service.

Pursuant to provisions of the Brown Act, no
action may be taken on a matter unless it is listed
on the agenda, or unless certain emergency or
special circumstances exist. The City Council
may direct staff to investigate and/or schedule
certain matters for consideration at a future City
Council meeting.

Please Note: Staff reports, and supplemental
attachments, are available for inspection at the
office of the City Clerk, City Hall, 11710 E.

Telegraph Road during regular business hours
7:30 a.m.-5:30 p.m., Monday-Thursday and every
other Friday. Telephone: (562) 868-0511.

City of Santa Fe Springs Regular Meetings June 21, 2022 2 1. CALL TO ORDER

2. ROLL CALL
Juanita Martin, Councilmember
John M. Mora, Councilmember
Jay Sarno, Councilmember
Joe Angel Zamora, Mayor Pro Tem
Annette Rodriguez, Mayor

3. INVOCATION

4. PLEDGE OF ALLEGIANCE

5. PUBLIC COMMENTS This is the time when comments may be made by members of the public on matters within the jurisdiction of the City Council, on the agenda and not on the agenda. The time limit for each speaker is three (3) minutes unless otherwise specified by the Mayor.

PUBLIC FINANCING AUTHORITY

6. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote.

Any item may be removed from the Consent Agenda and considered separately by the Public Financing Authority.
a. Minutes of the May 17, 2022 Public Financing Authority Meetings (City Clerk) Recommendation:
• Approve the minutes as submitted.
b. Monthly Report on the Status of Debt Instruments Issued through the City of Santa Fe Springs Public Financing Authority (PFA) (Finance)
Recommendation:
• Receive and file the report.

WATER UTILITY AUTHORITY

7. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote.

Any item may be removed from the Consent Agenda and considered separately by the Water Utility Authority.
a. Minutes of the May 17, 2022 Water Utility Authority Meetings (City Clerk) Recommendation:
• Approve the minutes as submitted.
b. Monthly Report on the Status of Debt Instruments Issued through the City of Santa Fe Springs Water Utility Authority (WUA) (Finance)
Recommendation:
• Receive and file the report.

City of Santa Fe Springs Regular Meetings June 21, 2022 3 c. Status Update of Water-Related Capital Improvement Projects (Public Works) Recommendation:
• Receive and file the report.

HOUSING SUCCESSOR

8. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote. Any item may be removed from the Consent Agenda and considered separately by the Housing Successor.

Minutes of the May 17, 2022 Housing Successor Meetings (City Clerk) Recommendation:
• Approve the minutes as submitted.

SUCCESSOR AGENCY

9. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote. Any item may be removed from the Consent Agenda and considered separately by the Successor Agency.

Minutes of the May 17, 2022 Successor Agency Meetings (City Clerk) Recommendation:
• Approve the minutes as submitted.

CITY COUNCIL

10. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote. Any item may be removed from the Consent Agenda and considered separately by the City Council.
a. Minutes of the May 17, 2022 Special and Regular City Council Meetings (City Clerk)
Recommendation:
• Approve the minutes as submitted.
b. A Resolution of the City Council Reaffirming the Existence of a Local Emergency Due to Threat of COVID-19 (pursuant to Government Code section 8630) (City Attorney)
Recommendation:
• Adopt Resolution No. 9801:

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE

SPRINGS, CALIFORNIA, REAFFIRMING THE EXISTENCE OF A LOCAL EMERGENCY DUE TO THE THREAT OF COVID-19.

City of Santa Fe Springs Regular Meetings June 21, 2022 4 c. A Resolution of the City Council Affirming Authorization of Remote Teleconference Meetings (City Attorney)
Recommendation:
• Adopt Resolution No. 9802:

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE

SPRINGS AFFIRMING THE LEGALLY REQUIRED FINDINGS TO

AUTHORIZE THE CONDUCT OF REMOTE TELECONFERENCE
MEETINGS DURING A STATE OF EMERGENCY.
d. Resolution No. 9798 – Adopt Residential Streets Improvements South Florence Avenue Project for Road Repair and Accountability Act of 2017 Funds (Fiscal Year 2022/23) (Public Works)
Recommendation:
• Adopt Resolution No. 9798 approving the Residential Streets Improvements South Florence Avenue Project to be partially funded by the Road Repair and Accountability Act (RMRA); and
• Authorize the Director of Public Works to submit an application to the California Transportation Commission for the allocation of RMRA funds to the Residential Streets Improvements South Florence Avenue Project. e. Clarke Estate Carpet Replacement and Betty Wilson Center Vinyl Flooring Replacement & Interior Painting – Final Payment (Public Works) Recommendation:
• Approve the Final Payment to GDL Best Contractors, Inc. of Whittier, California in the amount of $8,014.04 (Less 5% Retention) for the subject project.
f. Resolution No. 9794 – Adoption of Annual Appropriation (GANN) Limit for Fiscal Year 2022-23 (Finance)
Recommendation:
• Adopt Resolution No. 9794 setting the appropriation limit for Fiscal Year 2022-23.
g. Quarterly Treasurer’s Report of Investments for the Quarter Ended March 31, 2022 (Finance)
Recommendation:
• Receive and file the report.
h. Adoption of the City’s Fiscal Year 2022-23 Investment Policy (Finance) Recommendation:
• Adopt the Investment Policy for Fiscal Year 2022-23.

PUBLIC HEARING

11. Resolution No. 9799 – Levy Annual Assessments for Heritage Springs Assessment District No. 2001-1 (Hawkins Street and Palm Drive) FY 2022/23 (Public Works) Recommendation:

City of Santa Fe Springs Regular Meetings June 21, 2022 5 • Open the Public Hearing;
• Receive any comments from the public wishing to speak on this matter and thereafter close the Public Hearing;
• Adopt Resolution No. 9799 confirming the diagram and assessment, and providing for annual assessment levy; and
• Authorize the Director of Finance to execute all documents necessary with the County of Los Angeles in order to process the collection of assessments related to Heritage Springs Assessment District No. 2001-1 (Hawkins Street and Palm Drive) for FY 2022/23.

PUBLIC HEARING

12. Resolution No. 9800 - Levy Annual Assessments for City of Santa Fe Springs Lighting District No. 1 (FY 2022/23) (Public Works)
Recommendation:
• Open the Public Hearing;
• Receive any comments from the public wishing to speak on this matter and thereafter close the Public Hearing;
• Adopt Resolution No. 9800 confirming the diagram and assessment, and providing for annual assessment levy; and
• Authorize the Director of Finance to execute all documents necessary with the County of Los Angeles in order to process the collection of assessments related to Lighting District No. 1 for FY 2022/23.

NEW BUSINESS

13. Adopt Resolution No. 9797 Approving the City’s Fiscal Year 2022-23 Operating Budget (Finance)
Recommendation:
• Adopt Resolution No. 9797 approving and adopting the Fiscal Year 2022-23 Operating Budget, Fiscal Year 2022-23 Salary Schedule, and authorizing the carryover of certain unspent appropriations.

14. Purchase of One (1) New Aerial Truck from M & M Lifts, Inc. (Finance) Recommendation:
• Accept the bids;
• Appropriate $69,700 from the general equipment replacement fund to fully fund this vehicle purchase; and
• Authorize the Director of Purchasing Services to issue a purchase order in the amount of $189,617.85 to M & M Lifts, Inc.

15. Approval of Labor Agreements for an Additional 1% COLA, Between the City of Santa Fe Springs and the City of Santa Fe Springs General City Employees Association (SFSCEA), The City of Santa Fe Springs Firemen’s Association (SFSFA), and the City of Santa Fe Springs Executive, Management & Confidential Association (SFSEMCA) (Finance) Recommendation:
• Approve Labor Agreements with SFSCEA, SFSFA and SFSEMCA for an Additional 1% Cost of Living Adjustment (COLA).

City of Santa Fe Springs Regular Meetings June 21, 2022 6 16. Approval of Compensation Levels for Hourly, Non-Represented, Non-Benefitted Employees (Finance)
Recommendation:
• Approve a 4% Cost of Living Adjustment (COLA) for Hourly, NonRepresented, Non-Benefitted Employees.

17. PRESENTATIONS
a. Milestone Recognition (City Manager)
b. Proclaiming July 2022 as “Park and Recreation Month” in the City of Santa Fe Springs (Community Services)

18. CITY MANAGER’S AND EXECUTIVE TEAM REPORTS

19. APPOINTMENTS TO BOARDS, COMMITTEES, COMMISSIONS

20. COUNCIL COMMENTS

21. ADJOURNMENT
I, Janet Martinez, City Clerk for the City of Santa Fe Springs, do hereby certify under penalty of perjury under the laws of the State of California, that the foregoing agenda was posted at the following locations; City’s website at www.santafesprings.org; Santa Fe Springs City Hall, 11710 Telegraph Road; Santa Fe Springs City Library, 11700 Telegraph Road; and the Town Center Plaza (Kiosk), 11740 Telegraph Road, not less than 72 hours prior to the meeting.

June 17, 2022
Janet Martinez, CMC, City Clerk Date Posted
.

AGENDA

REGULAR MEETINGS OF THE SANTA FE SPRINGS

PUBLIC FINANCING AUTHORITY

WATER UTILITY AUTHORITY

HOUSING SUCCESSOR

SUCCESSOR AGENCY

AND CITY COUNCIL
June 21, 2022
6:00 P.M.

Please Note: Staff reports, and supplemental
attachments, are available for inspection at the
office of the City Clerk, City Hall, 11710 E.

Telegraph Road during regular business hours
7:30 a.m.-5:30 p.m., Monday-Thursday and every
other Friday. Telephone: (562) 868-0511.

City of Santa Fe Springs Regular Meetings June 21, 2022 2 1. CALL TO ORDER

2. ROLL CALL
Juanita Martin, Councilmember
John M. Mora, Councilmember
Jay Sarno, Councilmember
Joe Angel Zamora, Mayor Pro Tem
Annette Rodriguez, Mayor

3. INVOCATION

4. PLEDGE OF ALLEGIANCE

PUBLIC FINANCING AUTHORITY

6. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote.

WATER UTILITY AUTHORITY

7. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote.

City of Santa Fe Springs Regular Meetings June 21, 2022 3 c. Status Update of Water-Related Capital Improvement Projects (Public Works) Recommendation:
• Receive and file the report.

HOUSING SUCCESSOR

Minutes of the May 17, 2022 Housing Successor Meetings (City Clerk) Recommendation:
• Approve the minutes as submitted.

SUCCESSOR AGENCY

Minutes of the May 17, 2022 Successor Agency Meetings (City Clerk) Recommendation:
• Approve the minutes as submitted.

CITY COUNCIL

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE

SPRINGS, CALIFORNIA, REAFFIRMING THE EXISTENCE OF A LOCAL EMERGENCY DUE TO THE THREAT OF COVID-19.

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE

SPRINGS AFFIRMING THE LEGALLY REQUIRED FINDINGS TO

PUBLIC HEARING

11. Resolution No. 9799 – Levy Annual Assessments for Heritage Springs Assessment District No. 2001-1 (Hawkins Street and Palm Drive) FY 2022/23 (Public Works) Recommendation:

PUBLIC HEARING

NEW BUSINESS

17. PRESENTATIONS
a. Milestone Recognition (City Manager)
b. Proclaiming July 2022 as “Park and Recreation Month” in the City of Santa Fe Springs (Community Services)

18. CITY MANAGER’S AND EXECUTIVE TEAM REPORTS

19. APPOINTMENTS TO BOARDS, COMMITTEES, COMMISSIONS

20. COUNCIL COMMENTS

June 17, 2022
Janet Martinez, CMC, City Clerk Date Posted
FOR ITEM NO. 6A
PLEASE SEE ITEM NO. 10A
City of Santa Fe Springs
Pla Public Financing Authority Meeting June 21, 2022
Report Submitted By: Travis Hickey Date of Report: June 17, 2022 Finance & Administrative Services

CONSENT AGENDA
Monthly Report on the Status of Debt Instruments Issued through the City of Santa Fe Springs Public Financing Authority (PFA)

BACKGROUND
The Santa Fe Springs Public Financing Authority (PFA) is a City entity that has periodically issued debt for the benefit of the Santa Fe Springs community. The following is a brief status report on the debt instruments currently outstanding that were issued through the PFA.

Consolidated Redevelopment Project 2006-A Tax Allocation Bonds Financing proceeds available for appropriation at 5/31/2022 None Outstanding principal at 5/31/2022 $39,761,479
Bond Repayment
The former Community Development Commission (CDC) issued a number of tax allocation bonds before it was dissolved by State law effective February 1, 2012 which are administered by the City acting as Successor Agency under the oversight of the appointed Oversight Board. The Successor Agency no longer receives tax increment. Instead, distributions from the Redevelopment Property Tax Trust Fund (RPTTF) are received based on approved obligations. It is anticipated that sufficient allocations from the RPTTF will continue to be made to the Successor Agency to meet ongoing debt service obligations.

Unspent Bond Proceeds
Under an approved Bond Expenditure Agreement, unspent bond proceeds of the former CDC in the amount of approximately $19 million were transferred to the City in July 2014.

The funds are to be spent in accordance with the original bond documents. The unspent proceeds continue to be a source of funding within the City’s capital improvement program (CIP).
2016 Bond Refunding
In July 2016, the Successor Agency issued its 2016 Tax Allocation Refunding Bonds, which paid off several bond issuances of the former CDC. The bonds were originally issued through the Public Financing Authority and included the 2001 Series A, 2002 Series A, 2003 Series A, the current interest portion of the 2006 Series A, and 2006 Series B bond issuances.

RECOMMENDATION
Receive and file the report.

ITEM NO. 6B
Public Financing Authority Monthly Report Page 2 of 2
Report Submitted By: Travis Hickey Date of Report: June 17, 2022 Finance & Administrative Services
2017 Bond Refunding
In December 2017, the Successor Agency issued its 2017 Tax Allocation Refunding Bonds, which paid off the 2007 Tax Allocation Bonds of the former CDC. The 2007 Bonds were originally issued through the Public Financing Authority.

Raymond R. Cruz
City Manager/Executive Director
FOR ITEM NO. 7A
PLEASE SEE ITEM NO. 10A
City of Santa Fe Springs
Pla Water Utility Authority Meeting June 21, 2022
Report Submitted By: Travis Hickey Date of Report: June 17, 2022 Finance & Administrative Services

CONSENT AGENDA
Monthly Report on the Status of Debt Instruments Issued through the City of Santa Fe Springs Water Utility Authority (WUA)

BACKGROUND
The Santa Fe Springs Water Utility Authority (WUA) is a City entity that has issued debt for the benefit of the Santa Fe Springs community. The following is a brief status report on the debt instruments currently outstanding that were issued through the WUA.

Water Revenue Bonds, 2013
Financing proceeds available for appropriation at 5/31/2022 None Outstanding principal at 5/31/2022 $6,890,000
Water Revenue Bonds, 2018
Financing proceeds available for appropriation at 5/31/2022 None Outstanding principal at 5/31/2022 $820,000
In May 2013 the Water Utility Authority issued the 2013 Water Revenue Bonds in the amount of $6,890,000. The bonds refunded the existing 2003 Water Revenue Bonds (issued through the Public Financing Authority) and provided additional funds for water improvement projects in the amount of $2,134,339. The funds were restricted for use on water system improvements. In August 2013 the Water Utility Authority Board appropriated the proceeds for the Equipping Water Well No. 12 Project and all proceeds were since used on this project.

In January 2018 the Water Utility Authority issued the 2018 Water Revenue Bonds in the amount of $1,800,000. The bonds refunded the existing 2005 Water Revenue Bonds (issued through the Public Financing Authority). No additional funds were raised through the issuance of the 2018 Water Revenue Bonds.

The City budget includes sufficient appropriations and adequate revenues are expected to be collected to meet the debt service obligations associated with the 2013 and 2018 Water Revenue Bonds.

RECOMMENDATION
Receive and file the report.

ITEM NO. 7B
Water Utility Authority Monthly Report Page 2 of 2
Report Submitted By: Travis Hickey Date of Report: June 17, 2022 Finance & Administrative Services
The WUA was formed in June of 2009. Water revenue bonds issued prior to this date were issued through the City of Santa Fe Springs Public Financing Authority.

Raymond R. Cruz
City Manager/Executive Director
City of Santa Fe Springs
Water Utility Authority Meeting June 21, 2022
Report Submitted By: Noe Negrete Date of Report: June 17, 2022 Director of Public Works

CONSENT AGENDA
Status Update of Water-Related Capital Improvement Projects

BACKGROUND
This report is for informational purposes only. The following is a listing of current active water projects.

Water Well No. 2 Assessment Status Update
Constructed in 1963, Water Well No. 2 has been inactive since 2006 due to a change in water quality requirements from the State Water Board. On July 20, 2021, the City Council approved awarding the contract to General Pump Company Inc. to assess Water Well No. 2. The contractor completed the initial assessment and has submitted to the City their final report, which confirmed only one contaminant, and provided two scenarios for treatment, the report recommended assessing the well’s structural condition, which includes an additional, more detailed video log and a Casing Inspection Thickness Measurement (CITM) survey. With the additional work completed and a draft report submitted to the City, Water Well No. 2 is structurally and hydrologically still in good condition. Staff is currently investigating cost-effective treatment options that will remove the one verified contaminant and get Water Well No. 2 operational once again to produce safe drinking water while reducing the City’s reliance on imported water.

FISCAL IMPACT
A total of $167,000 has been budgeted for Water Well No. 2 assessment.

INFRASTRUCTURE IMPACT
A comprehensive assessment of Water Well No. 2 has provided City staff the information needed to determine that the water well can be rehabilitated and minimal treatment is necessary to meet all drinking water standards. This project has the very likely potential to allow the City to deliver high-quality groundwater and reduce the City’s dependence on costly imported water from the Metropolitan Water District of Southern California.

Raymond R. Cruz
Executive Director
Attachments:

None

RECOMMENDATION
• Receive and file the report.

ITEM NO. 7C
FOR ITEM NO. 8
PLEASE SEE ITEM NO. 10A
FOR ITEM NO. 9
PLEASE SEE ITEM NO. 10A
City Council Meeting June 21, 2022
Report Submitted By: Janet Martinez, City Clerk/ Date of Report: June 17, 2022 Fernando Munoz, Deputy City Clerk
City of Santa Fe Springs

CONSENT AGENDA
Minutes of the May 17, 2022 Special and Regular City Council Meetings

BACKGROUND
Staff has prepared minutes for the following meetings:
• Special City Council Meeting of May 17, 2022
• Regular City Council Meeting of May 17, 2022
Staff hereby submits the minutes for Council’s approval.

Raymond R. Cruz
City Manager
Attachments:

1. May 17, 2022 Special Meeting Minutes

2. May 17, 2022 Regular Meeting Minutes

RECOMMENDATION(S)
• Approve the minutes as submitted.

ITEM NO. 10A
APPROVED:
+

MINUTES OF THE SPECIAL MEETING OF THE

WATER UTILITY AUTHORITY
May 17, 2022

1. CALL TO ORDER
Mayor Rodriguez called the meeting to order at 5:02 p.m.

2. ROLL CALL
Members present: Councilmembers Martin, Mora, Sarno, Mayor Pro Tem Zamora, and Mayor Rodriguez.

Members absent: None.

3. PUBLIC COMMENTS
There was no one wishing to speak during Public Comments.

CITY COUNCIL

4. STUDY SESSION
Water Capital Improvement Plan (Public Works)
Recommendation:
• Approval of 2022-2025 Water Capital Improvement Plan.

Director of Public Works, Noe Negrete provided a brief Power point presentation. He went over the Water CIP Completed Projects. These projects were listed as “Exhibit A”; these projects consisted as Water Well No. 2; Water Well no. 12; Booster Station Rehabilitation at Reservoir No. 2; Upgrade SCADA System and Central Basin MWD 42 Interconnection Rehabilitation. Each item on the list reflected the cost for each Fiscal Year. The Reservoirs require to be upgraded due to the fact that the motors are running often and might need to be replaced with electric motors to make it modern and last longer.

Council Member Martin inquired the length of the temporary one.

Mr. Negrete stated it can be from months to years. He compared this maintenance to a filter that requires to be replaced every so often.

Council Member Sarno inquired whether the City is still considering to partner with Downey or Whittier.

Mr. Negrete stated that Pico Rivera has pulled out, Whittier has placed the project on hold and Downey is used only on an emergency basis.

Mayor Pro Tem Zamora inquired whether the City has considered Norwalk.

Minutes of the April 20, 2022 Special City Council Meeting

Page 2 ends

Mr. Negrete stated that the city provides water to Norwalk since Norwalk does not have that ability and Santa Fe Springs helps out.

Council Member Sarno inquired whether the City can charge Norwalk for servicing their residents.

Mr. Negrete stated that their residents are charged at the highest as tier 3.

Council Member Mora inquired the status with Whittier.

Mr. Negrete stated that Whittier does not cover the whole area of Santa Fe Springs.

Mayor Pro Tem Zamora inquired why the City of Pico Rivera pulled.

Mr. Negrete stated he does not have that information. He then continued his presentation. He talked about the funding portion. He noted the Water CIP fund is $7,000,000 and the projected reserve will be $4,000,000 and the available funding is $11,000,000.

It was moved by Council Member Martin, seconded by Mayor Pro Tem Zamora, to approve the 2022-2025 Water Capital Improvement Plan, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None

5. ADJOURNMENT
Mayor Rodriguez adjourned the meeting at 5:21 p.m.
_____________________
Annette Rodriguez
ATTEST: Mayor
_____________________
Janet Martinez Date
City Clerk
APPROVED:

MINUTES OF THE REGULAR MEETINGS OF THE

CITY COUNCIL
May 17, 2022

1. CALL TO ORDER
Mayor Rodriguez called the meeting to order at 6:00 p.m.

2. ROLL CALL
Members present: Councilmembers/Directors: Martin, Mora, Sarno, Mayor Pro Tem/Vice Chair Zamora and Mayor/Chair Rodriguez.

Members absent: None

3. INVOCATION
Council Member Mora led the invocation.

4. PLEDGE OF ALLEGIANCE
Council Member Martin led the Pledge of Allegiance.

Mayor Rodriguez requested for presentation listed under 6A to be moved prior to public comment.
a. Lake Center Middle School 8th Grade Students on the 2022 Washington D.C. Trip (City Manager)
Lake Center Middle School Teacher, Jennifer Conforti made a brief presentation on the trip to Washington D.C.

5. PUBLIC COMMENTS
The following individuals spoke during public comment: Edward Cadena, Gilbert Maesa, Isabel Cervantes, Randy Romero and Aracely Bachmann.

6. PRESENTATIONS
b. Lake Center Middle School 8th Grade Students on the 2022 Washington D.C. Trip (City Manager)
c. Recognition of 2022 Art Fest Event Sponsors and Volunteers (Community Services) d. Proclaiming the Month of May 2022 as “Older Americans Month” in Santa Fe Springs (Community Services)
e. Proclaiming May 25, 2022 as “National Senior Health & Fitness Day” in the City of Santa Fe Springs (Community Services)
f. Introduction of New Santa Fe Springs Department of Fire-Rescue Firefighter Candidates (Community Services)
Item No. 6F was moved to the next meeting.
g. Proclaiming the week of May 15-21, 2022 as “National Public Works Week” (Public Works)
Minutes of the May 17, 2022 Public Finance Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings

Page 2 ends

PUBLIC FINANCING AUTHORITY

7. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote.

Any item may be removed from the Consent Agenda and considered separately by the Public Financing Authority.
a. Minutes of the April 19, 2022 Public Financing Authority Meetings (City Clerk) Recommendation:
• Approve the minutes as submitted.
b. Monthly Report on the Status of Debt Instruments Issued through the City of Santa Fe Springs Public Financing Authority (PFA) (Finance)
Recommendation:
• Receive and file the report.

It was moved by Council Member Sarno, seconded by Mayor Pro tem Rodriguez, to approve Item Nos. 7A and 7B, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None

WATER UTILITY AUTHORITY

8. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote.

Any item may be removed from the Consent Agenda and considered separately by the Water Utility Authority.
a. Minutes of the April 19, 2022 Water Utility Authority Meetings (City Clerk) Recommendation:
• Approve the minutes as submitted.
b. Monthly Report on the Status of Debt Instruments Issued through the City of Santa Fe Springs Water Utility Authority (WUA) (Finance)
Recommendation:
• Receive and file the report.
c. Status Update of Water-Related Capital Improvement Projects (Public Works) Recommendation:
• Receive and file the report.

It was moved by Council Member Martin, seconded by Council Member Mora, to approve Item Nos. 8A through 8C, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None
Minutes of the May 17, 2022 Public Finance Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings

Page 3 ends

NEW BUSINESS

9. Implementation of Water Shortage Contingency Plan – Stage 1 (Public Works) Recommendation:
• City Council Implement Stage 1 of the City’s Water Shortage Contingency Plan in order to comply with the State of California’s Drought State of Emergency Declaration.

Water Utility Services Manager, Jesse Sira, provided a brief presentation on item no. 9.

Council Member Martin inquired whether the City is planning to switch plants to drought-tolerant if the City plans to reduce the water usage.

Director of Public Works, Noe Negrete stated there is no change order.

Mayor Pro Tem Rodriguez stated that the city should look into getting drought free plants.

Mr. Negrete stated at this moment they are only asking for approval of the contingency plan and can address the maintenance on another day.

Council Member Martin requested to have the City add a notice on social media in regards to the water restrictions.

It was moved by Mayor Pro Tem Zamora, seconded by Council Member Martin, to implement stage 1 of the City’s Water Shortage Contingency Plan, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None

HOUSING SUCCESSOR

Minutes of the April 19, 2022 Housing Successor Meetings (City Clerk) Recommendation:
• Approve the minutes as submitted.

It was moved by Council Member Mora, seconded by Mayor Pro Tem Zamora, to approve the minutes as submitted, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None
Minutes of the May 17, 2022 Public Finance Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings

Page 4 ends

SUCCESSOR AGENCY

11. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote. Any item may be removed from the Consent Agenda and considered separately by the Successor Agency.

Minutes of the April 19, 2022 Successor Agency Meetings (City Clerk) Recommendation:
• Approve the minutes as submitted.

It was moved by Council Member Sarno, seconded by Council Member Martin to approve the minutes as submitted, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None

CITY COUNCIL

12. CONSENT AGENDA
Consent Agenda items are considered routine matters which may be enacted by one motion and vote. Any item may be removed from the Consent Agenda and considered separately by the City Council.
a. Minutes of the April 19, 2022 and April 20, 2022 Regular and Special City Council Meetings (City Clerk)
Recommendation:
• Approve the minutes as submitted.
b. A Resolution of the City Council Reaffirming the Existence of a Local Emergency Due to Threat of COVID-19 (pursuant to Government Code section 8630) (City Attorney)
Recommendation:
• Adopt Resolution No. 9790:

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE

SPRINGS, CALIFORNIA, REAFFIRMING THE EXISTENCE OF A LOCAL EMERGENCY DUE TO THE THREAT OF COVID-19.
c. A Resolution of the City Council Affirming Authorization of Remote Teleconference Meetings (City Attorney)
Recommendation:
• Adopt Resolution No. 9791:

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE

SPRINGS AFFIRMING THE LEGALLY REQUIRED FINDINGS TO

AUTHORIZE THE CONDUCT OF REMOTE TELECONFERENCE
MEETINGS DURING A STATE OF EMERGENCY.
d. Resolution Nos. 9785 and 9786 – Approval of Engineer’s Report (Fiscal Year 2022/23) in Conjunction with Annual Levy of Assessment for Heritage Springs Assessment District No. 2001-1 (Hawkins Street and Palm Drive) (Public Works) Minutes of the May 17, 2022 Public Finance Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings

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Recommendation:
• Adopt Resolution No. 9785, approving the Engineer’s Report (Fiscal Year 2022/23) in conjunction with the annual levy of assessments for the Heritage Springs Assessment District No. 2001-01; and
• Adopt Resolution No. 9786 declaring the City of Santa Fe Springs’ intention to provide for an annual levy and collection of assessments for Heritage Springs Assessment District No. 2001-01, and setting the public hearing for the Council meeting of June 21, 2022.
e. Resolution Nos. 9787 and 9788 – Approval of Engineer’s Report (Fiscal Year 2022/23) in Conjunction with Annual Levy of Assessments for Street Lighting District No. 1 (Public Works)
Recommendation:
• Adopt Resolution No. 9787, approving the Engineer’s Report (Fiscal Year 2022/23) in conjunction with the annual levy of assessments for Street Lighting District No. 1; and
• Adopt Resolution No. 9788, declaring the City of Santa Fe Springs’ intention to provide for an annual levy and collection of assessments for Lighting District No. 1, and setting the public hearing for the Council meeting of June 21, 2022.

It was moved by Council Member Sarno, seconded by Council Member Martin, to approve Item Nos. 12A through 12E, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None

PUBLIC HEARING

13. Resolution No. 9789: Solid Waste Service Rate Increases (City Manager) Recommendation:
• Open the Public Hearing, receive the staff report and consider any comments from the public regarding the proposed solid waste service rate increases; and
• Find that this action is statutorily exempt from the environmental review requirements of the California Environmental Quality Act (CEQA) pursuant to Public Resources Code Section 21080(b)(8) and CEQA Guidelines section 15273(a)(1); and
• Close the public hearing and direct the City Clerk to tabulate the written protests and report the results of the tabulation to the City Council in compliance with Proposition 218; and
• Adopt Resolution No. 9789, authorizing the solid waste service rate increases, after concluding the City did not receive a majority protest.

Municipal Affairs Manager, Maribel Garcia provided a brief presentation on Item No. 13.

She noted that the City only received one (1) protest. She also went over the rates. She stated the rates had to increase due to Senate Bill 1383.

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Mayor Rodriguez opened the public hearing at 7:32 p.m.

There were no speakers.

Mayor Rodriguez closed the public hearing at 7:32 p.m.

It was moved by Council Member Martin, seconded by Council Member Mora, to adopt resolution No. 9789 authorizing the solid waste service rate increases, after concluding the City did not receive a majority protest, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None

OLD BUSINESS

14. Request for Out-of-State Travel for an Instructor Lifeguard II to attend a Water Safety Instructor-Instructor Trainer Course in Louisville, Kentucky in June 2022 (Community Services)
Recommendation:
• Approve out-of-state travel for the Instructor Lifeguard II to attend a Water Safety Instructor-Instructor Trainer (WSI-IT) Course in Louisville, Kentucky held on June 20, 2022 through June 24, 2022.

Parks and Recreation Services Manager, Gustavo Hernandez provided a brief presentation on Item No. 14.

Council Member Mora emphasized the importance of being an instructor. He also expressed he was happy to hear that the High School will not be having construction soon.

Council Member Sarno expressed his concern for sending an instructor for three (3) years if there is no guarantee they will be staying. He is also concerned about having the employee accepting a job at another city if more pay is offered.

Mr. Hernandez stated one cannot foresee what decisions will be made in the future, however anyone can take their certification and take it anywhere else.

Mayor Rodriguez inquired whether the trainer would also be training other employees.

Council Member Martin stated the employee that is being sent for training has been working for the city for over 20 years and believes they will stay with the city.

Council Member Mora explained what the difference is between a regular instructor and instructor trainer.

It was moved by Mayor Pro Tem Zamora, seconded by Council Member Mora, to approve out-of-state travel for the instructor Lifeguard II to attend a Water Safety Minutes of the May 17, 2022 Public Finance Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings

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Instructor-Instructor Trainer Course in Louisville, Kentucky held on June 20, 2022 through June 24, 2022, by the following vote:

Ayes: Martin, Mora, Zamora, Rodriguez
Nayes: Sarno

Absent: None

NEW BUSINESS

15. Little Lake Park Parking Lot Improvements – Authorization to Advertise for Construction Bids (Public Works)
Recommendation:
• Approve the Plans and Specifications; and
• Authorize the City Engineer to advertise for construction bids.

Director of Public Works, Noe Negrete provided a brief presentation on Item No. 15.

Mayor Pro Tem Rodriguez suggested to ask Norwalk if they are willing to pay.

Council Member Sarno suggested to request the majority to be funded by Norwalk since the majority of the time the park is used by Norwalk residents.

Mayor Pro Tem Zamora requested to add cameras to the project.

Mr. Negrete stated it’s not in the order and will look into adding it. He also asked for clarification on the bid request.

Mayor Pro Tem Zamora suggested to ask Norwalk before going to bid.

Council Member Sarno suggested to ask Norwalk and still go to bid.

It was moved by Council Member Martin, seconded by Council Member Sarno, to approve the plans and specifications; and authorize the City Engineer to advertise for construction bids, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None

16. Water Feature Maintenance Services – Authorization to Issue a Request for Bids Recommendation:
• Authorize the Director of Public Works to issue a Request for Bids to provide Water Feature Maintenance Services.

Mayor Pro tem Zamora requested to look into current contractor.

Make a motion to negotiate with current contractor.

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It was moved by Mayor Pro Tem Zamora, seconded by Council Member Martin, to authorize the Director of Public Works to look into extending the contract with current contractor by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None

17. Heritage Park Train Exhibit Improvements (Paint and Refurbish Boxcar) – Approval of Contract Change Order No. 1 (Public Works)
Recommendation:
• Appropriate additional $28,000 from the Art in Public Places Fund to the Heritage Park Train Exhibit Improvements (PW 200101); • Approve Contract Change Order No. 1 in the amount of $52,000; and • Authorize the Mayor to execute Contract Change Order No. 1.

Director of Public Works, Noe Negrete provided a brief presentation on item no. 17.

Council Member Martin inquired what a new box car cost.

Mr. Negrete stated it would cost approximately around $160,000.

It was moved by Council Member Martin, seconded by Council Member Sarno, to appropriate an additional $28,000 from the Art in Public Places Fund to the Heritage Park Train Exhibit Improvements, approve contract Change Order No. 1 in the amount of $52,000 and authorize the Mayor to execute contract Change Order No. 1, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None

18. Adopt Resolution No. 9792 Approving Changes to the Salary Schedule and Approval of Related Personnel Modifications (Finance)
Recommendation:
• Adopt Resolution No. 9792 approving changes to the City’s Fiscal Year 2021-22 Salary Schedule.
• Approve the proposed classification specification and title for the Traffic Engineer position.

Director of Finance, Travis Hickey provided a brief presentation on Item No. 18.

It was moved by Council Member Sarno, seconded by Council Member Mora, to adopt Resolution No. 9779 approving changes to the City’s Fiscal Year 2021-22 Salary Schedule; and approve the proposed classification specification and title for the Communications Specialist position, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None
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19. 2021 General Plan Housing Element Annual Progress Report (Planning) Recommendation:
• Find and determine that the Annual Progress Report is exempt from The California Environmental Quality Act (CEQA), pursuant to Section 15061(b) (3). The 2021 Annual Report was assessed in accordance with the authority and criteria contained in CEQA and the State CEQA Guidelines. It can be seen with certainty that there is no possibility that the report may have a significant effect on the environment. The report does not authorize construction and any future development proposed pursuant to the programs in the City’s Housing Element will require separate environmental analysis when details of those proposals are known.
• Authorize staff to forward the 2021 General Plan Housing Element Annual Progress Report to the California Department of Housing and Community Development (HCD) and the Governor’s Office of Planning and Research (OPR).

Director of Planning, Wayne Morell provided a brief presentation on Item No. 19.

It was moved by Council Member Martin seconded by Mayor Pro Tem Zamora, to adopt Resolution No. 9779 approving changes to the City’s Fiscal Year 2021-22 Salary Schedule; and approve the proposed classification specification and title for the Communications Specialist position, by the following vote:

Ayes: Martin, Mora, Sarno, Zamora, Rodriguez
Nayes: None

Absent: None

20. CITY MANAGER’S AND EXECUTIVE TEAM REPORTS
• City Manager, Raymond R. Cruz provided a brief update on the business license fee meeting. He noted there were different models discussed. They had the opportunity to meet with the business community, the consultant and HDL. He noted there are plans to meet with each council in the next few weeks to obtain feedback. • Director of Public Works, Noe Negrete provided an update on the following projects:

Lakeview Park wading pool; pavers were repaired at Lake Center Park; there was new flooring added to the Betty Wilson center. He also provided an update on the Fruit Tree Distribution and lastly he spoke about the Lakeview playground equipment. They are still waiting for the parts to get that playground open. • Director of Planning, Wayne M. Morrell introduced Vince Velasco, Associate Planner to provide a brief presentation on the information recently posted on social media and also provided an update on the New Housing Development Single-Room Occupancy (SRO).

He spoke in regards to the project located at Washington and Broadway, it was approved with the Housing element. He also spoke about Senate Bill 35 which was approved in 2018. He emphasized that the Planning staff is working with the planning attorney to comply with the senate bill. Lastly, he spoke about SB 35, the State Density Minutes of the May 17, 2022 Public Finance Authority, Water Utility Authority, Housing Successor, Successor Agency, and City Council Meetings

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Bonus Law.
• Director of Police Services, Dino Torres he spoke about a public safety officer that noticed a suspicious vehicle that was parked illegally and ran the license plate. He noted the vehicle was stolen and he notified the officers nearby and placed a call. • Battalion Chief, Chad Van Meeteren provided an update on the Apparatus. He noted that once they are delivered they will be bringing it to a Council Meeting. He also spoke about the recent grants funding received that allowed them to purchase HazMat materials.
• Director of Finance, Travis Hickey he spoke about the training that was recently held for city employees that were for supervisory training and safety training. • Director of Community Services, Maricela Balderas provided a recap on the Art Fest event. She also spoke about the upcoming events of Pioneer Living Day at Heritage Park and last there will be a Hawaiian Luau dance on June 10th.

21. APPOINTMENTS TO BOARDS, COMMITTEES, COMMISSIONS
Mayor Pro Tem Zamora appointed Hilda Zamora to the Senior Advisory Committee.

22. COUNCIL COMMENTS
Council Member Martin expressed that she was happy to hear that the pool at the schools will be accessible. She also stated that in Police Services week there was an officer in Lakewood that passed due to a heartache while riding a bike.

Council Member Mora spoke about the lighting at Danby and acknowledged Public Works staff. He also spoke about Art Fest. Last, he spoke about the food waste; and provided a suggestion on food waste disposal.

Council Member Sarno spoke about Art Fest. He also requested a study session or agenda item on future infrastructure for the city. He noted there are a lot of improvements that need to be addressed in the city. He emphasized that these issues need to be addressed now and develop a plan for the future.

Mayor Pro Tem Zamora acknowledged the Mayor for going to speak with the residents that had concerns with the trees. He also spoke about attending contract cities and how they also discussed infrastructure. He noted there was a lady with the name of Jennifer Hernandez that can provide advice on how to plan ahead for housing and schedule to meet with her. Last he spoke in regards to the agency SCAG and the recommendations they gave to local leaders.

Mayor Rodriguez thanked Ed Ramirez and heritage arts for putting together a great Art Fest event. She also spoke about how the Meet the Mayor at Cherry donuts was great.

She noted that these meet and greets are necessary to hear the residents. She also spoke about the teacher’s association event and thanked staff for giving her tours of the departments.

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23. ADJOURNMENT
Mayor Rodriguez adjourned the meeting at 8:55 p.m. in memory of Aria Ortiz. _____________________
Annette Rodriguez
Mayor
ATTEST:
_____________________
Janet Martinez Date
City Clerk
City Council Meeting June 21, 2022
Report Submitted By: Ivy M. Tsai, City Attorney Date of Report: June 17, 2022 City of Santa Fe Springs

CONSENT AGENDA
A Resolution of the City Council Reaffirming the Existence of a Local Emergency Due to the Threat of COVID-19 (pursuant to Government Code section 8630)

BACKGROUND
On March 4, 2020, the Governor of California issued a proclamation declaring a state of emergency due to the threat of COVID-19. On March 13, 2020, the President of the United States issued a proclamation of national emergency, beginning March 1, 2020, due to the COVID-19 outbreak. On March 17, 2020, the City Manager, acting as the Director of Emergency Services, issued a proclamation declaring the existence of a local emergency beginning March 12, 2020, due to the threat of COVID-19. On March 18, 2020, the City Council adopted Resolution No. 9668 ratifying the proclamation, and on April 9, 2020, the City Council adopted Resolution No. 9669 relating to taking action in response to the local emergency. The City Council has continued to reaffirm the existence of a local emergency due to the threat of COVID-19.

Government Code section 8630(c) provides that the City Council shall review the need for continuing the local emergency at least once every 60 days until the City Council terminates the local emergency. The state of emergency still exists and has not been lifted at the statewide or county level. The Los Angeles County Department of Public Health issued a revised health order on April 21, 2022, which states that the County is currently experiencing increases in COVID-19 cases and test positivity rates, and that related hospitalizations are no longer in decline. Centers for Disease Control and Prevention (CDC) indicators and thresholds measuring community transmission of COVID-19 within the County have increased to and continue to be at a Substantial level. The health order also states that the highly transmissible Omicron BA.2 subvariant is currently the dominant variant in the County.

The reasons for declaring a local emergency still exist, and therefore, staff recommends that the City Council adopt the attached Resolution affirming the existence of a local emergency in accordance with Government Code section 8630(c).

Raymond R. Cruz
City Manager
Attachment: Resolution No. 9801

RECOMMENDATION
• Adopt Resolution No. 9801:

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE

SPRINGS, CALIFORNIA, REAFFIRMING THE EXISTENCE OF A LOCAL EMERGENCY DUE TO THE THREAT OF COVID-19
ITEM NO. 10B
APPROVED:

ITEM NO.:
1 RESOLUTION NO. 9801

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS,

CALIFORNIA, REAFFIRMING THE EXISTENCE OF A LOCAL EMERGENCY DUE TO THE THREAT OF COVID-19
WHEREAS, on March 4, 2020, the Governor of California issued a proclamation declaring a state of emergency due to the threat of COVID-19; and WHEREAS, on March 13, 2020, the President of the United States issued a proclamation of national emergency, beginning March 1, 2020, due to the COVID-19 outbreak; and
WHEREAS, on March 17, 2020, the City Manager, acting as the Director of Emergency Services, issued a proclamation declaring the existence of a local emergency beginning March 12, 2020, due to the threat of COVID-19; and WHEREAS, on March 18, 2020, the City Council adopted Resolution No. 9668 ratifying the proclamation declaring the existence of a local emergency, and on April 9, 2020, the City Council adopted Resolution No. 9669 relating to taking action in response to the local emergency; and
WHEREAS, the City Council previously adopted resolutions reaffirming the existence of a local emergency due to the threat of COVID-19 pursuant to Government Code section 8630(c), which provides that the City Council shall review the need for continuing the local emergency at least once every 60 days until the City Council terminates the local emergency; and
WHEREAS, the state of emergency still exists and has not been lifted at the statewide or county level; and
WHEREAS, the Los Angeles County Department of Public Health issued a revised health order on April 21, 2022, which states that the County is currently experiencing increases in COVID-19 cases and test positivity rates, and that related hospitalizations are no longer in decline; and
WHEREAS, Centers for Disease Control and Prevention (CDC) indicators and thresholds measuring community transmission of COVID-19 within the County have increased to and continue to be at a Substantial level; and WHEREAS, the health order also states that the highly transmissible Omicron 2 BA.2 subvariant is currently the dominant variant in the County; and WHEREAS, COVID-19 continues to pose a threat to the safety of individuals in Santa Fe Springs and Los Angeles County, and the reasons for declaring a local emergency still exist.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS DOES HEREBY RESOLVE AS FOLLOWS:

1. The City Council determines that there is need for continuing the local emergency until such time as the City Council declares the termination of the local emergency. The City Council will review the need for continuing the local emergency at least once every 60 days in accordance with Government Code section 8630(c).

2. The City Council reaffirms Resolution Nos. 9668 and 9669 relating to the declaration of and response to a local emergency due to the threat of COVID-19, and all parts therein.

APPROVED and ADOPTED this 21st day of June, 2022.

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________________
Annette Rodriguez, Mayor
ATTEST:
__________________________
Janet Martinez, CMC, City Clerk
City Council Meeting June 21, 2022
Report Submitted By: Ivy M. Tsai, City Attorney Date of Report: June 17, 2022 City of Santa Fe Springs

CONSENT AGENDA
A Resolution of the City Council Affirming Authorization of Remote Teleconference Meetings

BACKGROUND
At its regular meeting of December 7, 2021, the City Council adopted Resolution No. 9747 authorizing the City Council and all legislative bodies and committees of the City to meet by teleconference. In order to continue holding teleconference meetings pursuant to this new law, an agency is required, at least every 30 days, to make the following findings by majority vote:
(A) The legislative body has reconsidered the circumstances of the state of emergency.
(B) Any of the following circumstances exist:
(i) The state of emergency continues to directly impact the ability of the members to meet safely in person.
(ii) State or local officials continue to impose or recommend measures to promote social distancing.

On March 4, 2020, the Governor issued a proclamation declaring a state of emergency due to the threat of COVID-19. The California Department of Public Health and the County of Los Angeles Department of Public Health have issued public health orders during this state of emergency for the purpose of reducing transmission of COVID-19. Such orders have included social distancing requirements. The state of emergency continues to directly impact the ability of the members to meet safely in person due to a number of factors, including the high number of daily cases and community transmission and increased transmission of COVID-19 by the Delta variant. The Department of Public Health has stated that the Delta variant is two times as contagious as earlier variants, remains predominant in Los Angeles County, and continues to lead to increased infections.

Accordingly, staff has prepared the attached resolution to continue to authorize remote teleconference meetings and will include on all future meeting agendas such a resolution until such time as the state of emergency ceases, or as otherwise directed by the City Council.

RECOMMENDATION
• Adopt Resolution No. 9802:

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE

SPRINGS AFFIRMING THE LEGALLY REQUIRED FINDINGS TO

AUTHORIZE THE CONDUCT OF REMOTE TELECONFERENCE

MEETINGS DURING A STATE OF EMERGENCY
ITEM NO. 10C
City Council Meeting June 21, 2022
Report Submitted By: Ivy M. Tsai, City Attorney Date of Report: June 17, 2022 City of Santa Fe Springs
Raymond R. Cruz
City Manager
Attachment:

1. Resolution No. 9802
APPROVED:

ITEM NO.:
1 RESOLUTION NO. 9802

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS

AFFIRMING THE LEGALLY REQUIRED FINDINGS TO AUTHORIZE THE CONDUCT

OF REMOTE TELECONFERENCE MEETINGS DURING A STATE OF EMERGENCY WHEREAS, on March 4, 2020, pursuant to California Government Code section 8625, the Governor declared a state of emergency; and
WHEREAS, on September 17, 2021, the Governor signed AB 361, which bill went into immediate effect as urgency legislation; and
WHEREAS, AB 361 adds Subsection (e) to Section 54953 of the Government Code to authorize legislative bodies to conduct teleconference meetings without complying with the requirements set forth in Section 54953(b)(3), provided the legislative body makes specified findings and complies with certain requirements; and WHEREAS, the County of Los Angeles Department of Public Health reports a high number of daily cases and community transmission, as well as increased transmission of COVID-19 due to the Delta variant, which is two times as contagious as earlier variants, remains predominant in Los Angeles County, and continues to lead to increased infections; and
WHEREAS, public health officials recommend social distancing as a protective measure to decrease the chance of spread of COVID-19; and WHEREAS, at its regular meeting of November 2, 2021, the City Council adopted Resolution No. 9735 authorizing the City Council and all legislative bodies and committees of the City to meet by teleconference; and
WHEREAS, Government Code Section 54953(e)(3) requires an agency to reconsider the circumstances of the state of emergency and make certain findings every thirty days in order to continue to conduct remote teleconference meetings pursuant to Section 54953(e).

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS DOES HEREBY RESOLVE that:

1. The City Council has reconsidered the circumstances of the state of emergency and finds that the state of emergency continues to directly impact the ability of its members to meet safely in person.

2. The City Council and all legislative bodies and committees of the City are authorized to meet by teleconference pursuant to, and in compliance with the requirements of, Government Code section 54953(e).

APPROVED:

ITEM NO.:
2 APPROVED and ADOPTED this 21st day of June 2022 by the following roll call vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________________
Annette Rodriguez, Mayor
ATTEST:
__________________________
Janet Martinez, CMC, City Clerk
City of Santa Fe Springs
City Council Meeting June 21, 2022
Report Submitted By: Noe Negrete Date of Report: June 17, 2022 Director of Public Works

CONSENT AGENDA
Resolution No. 9798 – Adopt Residential Streets Improvements South Florence Avenue Project for Road Repair and Accountability Act of 2017 Funds (Fiscal Year 2022/23)

BACKGROUND
Accountability Act of 2017, SB-1 was created to address basic road maintenance, rehabilitation, and critical safety needs on the State highway and local road systems.

The State Controller will apportion, by formula, a percentage of RMRA funds to eligible cities and counties in accordance with the Streets and Highways Code Section 2032.

Pursuant to the Streets and Highways Code Section 2030, RMRA funds must be used for projects that include but are not limited to:
• Road maintenance and rehabilitation.
• Safety projects.
• Railroad grade separations.
• Complete street components including active transportation purposes, pedestrian and bicycle safety projects, transit facilities, and drainage and storm water capture projects in conjunction with any other allowable project; and; • Traffic control devices.

To receive additional RMRA funds, SB-1 imposes several requirements on public agencies that are contained in the Streets and Highways Code Section 2034. As set forth in the statute, the road repair and maintenance project must be approved by Resolution of the City Council held at a regular public meeting. The resolution must contain a description and location of each proposed project, a proposed completion schedule, and the estimated useful life of each improvement.

City staff have determined the Residential Streets Improvements South Florence Avenue (Orr & Day Road to Ringwood Avenue) project meets the SB-1 requirements and recommends listing the project for SB-1 funding for FY 2022/23. Additionally, City staff recommends that the City Council authorize the Director of Public Works to submit an application to the CTC for $401,451 in order to provide partial funding for the Project.

RECOMMENDATION
• Adopt Resolution No. 9798 approving the Residential Streets Improvements South Florence Avenue Project to be partially funded by the Road Repair and Accountability Act (RMRA); and
• Authorize the Director of Public Works to submit an application to the California Transportation Commission for the allocation of RMRA funds to the Residential Streets Improvements South Florence Avenue Project.

ITEM NO. 10D
Resolution No. 9798 –Senate Bill 1 Funds -
Residential Streets Improvements South Florence Avenue Page 2 of 2 Report Submitted By: Noe Negrete Date of Report: June 17, 2022 Director of Public Works
The Residential Street Improvement South Florence Avenue project consists of the following streets:

Street From To

1. Ringwood Ave. Cecilia Ave. Florence Ave.

2. Cecilia Ave. Mondon Ave. Ringwood Ave.

3. Gard Ave. Florence Ave. Cecilia St.

4. Roseton Ave. Florence Ave. Cecilia St.

5. Jersey Ave. Florence Ave. Ringwood St.

6. Quin St. Gard Ave. w’ly cul-de-sac

7. Muller St. Gard Ave. w’ly cul-de-sac

8. Buel St. Gard Ave. w’ly cul-de-sac

9. Maidstone Ave. Florence Ave. Roseton Ave.

10.Buel St. Jersey Ave. Roseton Ave.

11.Flallon Ave. Florence Ave. Ringwood Ave.

12.Lakeland Rd. Mondon Ave. Ringwood Ave.

13.Ringwood Ave. Mondon Ave. Lakeland Ave.

14.Longworth Ave. Orr and Day Rd. Harvest Ave.

The City’s Pavement Management System calculates a useful life of approximately 20 years added to the current roadway life cycle.

INFRASTRUCTURE IMPACT
The Residential Streets Improvements South Florence Avenue Project will improve the structural condition of the existing roadway, enhance operational safety and reduce maintenance costs moving forward.

Raymond R. Cruz
City Manager
Attachments:

Exhibit No. 1: Resolution No. 9798
APPROVED:

ITEM NO.:

RESOLUTION NO. 9798

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS, CALIFORNIA, ADOPTING A LIST OF PROJECTS FOR FISCAL YEAR 2022-23 FUNDED BY SB 1: THE ROAD REPAIR AND ACCOUNTABILITY ACT OF 2017 WHEREAS, Senate Bill 1 (SB 1), the Road Repair and Accountability Act of 2017 (Chapter 5, Statutes of 2017) was passed by the Legislature and Signed into law by the Governor in April 2017 to address the significant multi-modal transportation funding shortfalls statewide; and
WHEREAS, SB 1 includes accountability and transparency provisions that will ensure the residents of our City are aware of the projects proposed for funding in our community and which projects have been completed each fiscal year; and WHEREAS, the City must adopt by resolution a list of projects proposed to receive fiscal year funding from the Road Maintenance and Rehabilitation Account (RMRA), created by SB 1, which must include a description and the location of each proposed project, a proposed schedule for the project’s completion, and the estimated useful life of the improvement; and
WHEREAS, the City of Santa Fe Springs will receive an estimated $401,451 in RMRA funding in Fiscal Year 2022-23 from SB 1; and
WHEREAS, this is the 6th year in which the City is receiving SB 1 funding and will enable the City of Santa Fe Springs to continue essential road maintenance and rehabilitation projects, safety improvements, repairing and replacing aging bridges, and increasing access and mobility options for the traveling public that would not have otherwise been possible without SB 1; and
WHEREAS, the City of Santa Fe Springs has undergone a robust public process to ensure public input into our community’s transportation priorities/the project list; and WHEREAS, the City of Santa Fe Springs used a Pavement Management System to develop the SB 1 project list to ensure revenues are being used on the most highpriority and cost-effective projects that also meet the communities priorities for transportation investment; and
WHEREAS, the funding from SB 1 will help the City of Santa Fe Springs rehabilitate streets and roads and add active transportation infrastructure throughout the City this year and similar projects into the future; and APPROVED:

ITEM NO.:
2 WHEREAS, the 2020 California Statewide Local Streets and Roads Needs Assessment found that the City’s streets and roads are in “lower risk” condition and this revenue will help us increase the overall quality of our road system and over the next decade will bring our streets and roads into a “good” condition; and WHEREAS, the SB 1 project list and overall investment in our local streets and roads infrastructure with a focus on basic maintenance and safety, investing in complete streets infrastructure, and using cutting-edge technology, materials and practices, will have significant positive co-benefits statewide.

THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS DOES RESOLVE AND ORDER AS FOLLOWS:

1. The foregoing recitals are true and correct.

2. The following list of newly proposed projects will be funded in part or solely with Fiscal Year 2022-23 Road Maintenance and Rehabilitation Account revenues:

Project Title: Residential Streets Improvements South Florence Avenue (Orr & Day Road to Ringwood Avenue) Project
Project Description: The project will consist of the grind and cap of asphalt concrete pavement for specific streets and a slurry seal for the remaining streets.

The new paving section will support vehicular carloads, and increase pavement service life. Additionally, the project also includes the removal and replacement of curb and gutter, sidewalks, curb ramps, driveways, culverts and the installation of storm water screen covers, as needed.

Project Location: The project limits encompass Florence Avenue to the north, Orr & Day Road to the west and Ringwood Avenue to the east, this area is also known as the “The Triangle.”
Estimated Project Schedule:

Design complete: September 2022
Authorization to Advertise: November 2022
Notice to Proceed with Construction: March 2023
Notice of Completion: June 2023
Estimated Project Useful Life: The City’s Pavement Management System calculates a useful life of 20 years added to the current roadway lifecycle.

APPROVED:

ITEM NO.:
3 APPROVED AND ADOPTED by the City Council of the City of Santa Fe Springs, State of California this 21st day of June, 2022, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
______________________________
Annette Rodriguez, Mayor
ATTEST:
______________________________
Janet Martinez, CMC, City Clerk
City of Santa Fe Springs
City Council Meeting June 21, 2022
Report Submitted By: Noe Negrete Date of Report: June 17, 2022 Director of Public Works

CONSENT AGENDA
Clarke Estate Carpet Replacement and Betty Wilson Center Painting and Vinyl Flooring Replacement & Interior Painting – Final Payment

BACKGROUND
On January 4, 2022, the City Council awarded a contract to GDL Best Contractors, Inc. of Whittier, California, in the amount of $138,000.00 for Clarke Estate Carpet Replacement and Betty Wilson Center Painting and Vinyl Flooring Replacement & Interior Exterior Painting project. The Project Scope of Work includes the removal and replacement of carpet on the first and second floor at the Clarke Estate, the removal and replacement of vinyl flooring at the Betty Wilson Center, and the interior painting of the Betty Wilson Center.

The following payment detail represents the Final Payment (less 5% Retention) due per terms of the contract for the work which has been completed and found to be satisfactory.

FISCAL IMPACT
The LA County Prop A Grant Fund will cover a portion of the project and the City will be reimbursed in the amount of $100,875.73. The Utility Users Tax (UUT) Capital Improvement Fund in the amount of $79,200 will cover the remaining portion of the project.

INFRASTRUCTURE IMPACT
These maintenance projects will improve the aesthetics of both the Clarke Estate and the Betty Wilson Center.

Raymond R. Cruz
City Manager
Attachment:

Exhibit No. 1: Final Payment Detail

RECOMMENDATION
• Approve the Final Payment to GDL Best Contractors, Inc. of Whittier, California in the amount of $8,014.04 (Less 5% Retention) for the subject project.

ITEM NO. 10E

Council Meeting June 21, 2022
Report Submitted By: Travis Hickey/ Lana Dich Date of Report: June 17, 2022 Finance and Administrative Services
City of Santa Fe Springs

CONSENT AGENDA
Resolution No. 9794 – Adoption of Annual Appropriation (GANN) Limit for Fiscal Year 2022-23

BACKGROUND
As required by Article XIII B of the State Constitution, the City Council annually revises the appropriation limit for each upcoming fiscal year. The limit establishes the maximum amount of taxes the City is allowed to collect and appropriate. We recently received information regarding the various factors that we may use to adjust the appropriations limit for Fiscal Year 2022-23.

The limit is adjusted each year based on two categories of adjustments, changes in (1) cost of living and (2) population. Within each adjustment category there are two factors from which the City can choose in calculating the new limit.

For the cost of living adjustment, the law allows a choice between the following:
• The increase in California per capita income (7.55%)
• The percentage change in the local assessment roll due to the addition of non-residential new construction (12.23%)
For the population growth adjustment, the law allows a choice between the following:
• Los Angeles County population increase (decrease of 0.71%) • The City of Santa Fe Springs’ own population growth (increase of 1.05%).

Using the most advantageous factors above (percentage change in the local assessment roll due to the addition of non-residential new construction and the change in population of Santa Fe Springs City), the City’s appropriation limit for Fiscal Year 2022-23 is calculated to be $3,130,472,470. The City’s Fiscal Year 2022-23 budget subject to this limit is calculated at $62,615,000.

The majority of California cities report appropriation limits well in excess of actual appropriations subject to the limit. For the City of Santa Fe Springs, the large excess of the limit over subject appropriations is primarily a result of the fact that the change in local assessment roll due to the addition of non-residential new construction ranged from 7.33% to 33.15% between fiscal years 2006-07 and 2022-

23. RECOMMENDATION
• Adopt Resolution No. 9794 setting the appropriation limit for Fiscal Year 2022-23
ITEM NO. 10F
Council Meeting June 21, 2022
Report Submitted By: Travis Hickey/ Lana Dich Date of Report: June 17, 2022 Finance and Administrative Services
City of Santa Fe Springs
The appropriations limit, which seeks to cap increases in government spending, was established by the passage of Proposition 4 in 1979. The limit was put in place one year following the passage of Proposition 13 in 1978, which limited cities’ ability to increase property tax revenue. Proposition 218, passed in November 1996, also limited cities’ ability to implement or raise general-purpose taxes, assessments, and certain property-related fees without voter approval. Although the City has the capacity to increase spending under the appropriations limit restriction, the City’s budget is constrained by limits on increasing revenues.

The appropriation limit calculation and appropriations subject to the limit are detailed in Exhibit A of Resolution No. 9794.

Raymond R. Cruz
City Manager
Attachment(s)
• Resolution No. 9794 (including Exhibit A)
• Adjustment factors information from the State of California and the County of Los Angeles
RESOLUTION NO. 9794

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS ADOPTING THE ANNUAL APPROPRIATION LIMIT FOR THE FISCAL YEAR 2022-23 WHEREAS, the City Council must annually adjust the appropriation limit based on either the change in the California per capita personal income or the percentage change in local assessment roll from the preceding year due to the addition of local non-residential construction in the City and either the City’s own population growth or the population growth of the entire county; and
WHEREAS, the decision as to which of the options to select must be done by a recorded vote of the City Council;

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA FE SPRINGS DOES RESOLVE AS FOLLOWS:

Section 1: In calculating the appropriation limit, the City has utilized the percentage change in the local assessment roll due to the addition of non-residential new construction applicable to the fiscal year 2022-23 limit of 12.23%.

Section 2: In calculating the appropriation limit, the City has utilized the population growth factor for City of Santa Fe Springs from January 1, 2021 to January 1, 2022 of 1.05%.

Section 3: The appropriation limit for Fiscal Year 2022-23 is $3,130,472,470 as calculated on Exhibit “A” attached hereto.

Section 4: The City reserves the right to change or revise any growth factors associated with the calculation of the appropriation limit in the present or future.

Section 5: The City Clerk shall certify to the adoption of this Resolution.

PASSED, APPROVED and ADOPTED this 21st day of June 2022.

Mayor
ATTEST:

City Clerk
Amount
Fiscal Year 2021-22 Appropriation Limit $ 2,760,314,320 Adjustment Factor (Rounded to 4 Decimal Places) 1.1341 (A) Adjustment 370,158,150
Fiscal Year 2022-23 Appropriation Limit $ 3,130,472,470 (B) Adjustment Factor Calculation: % As a Ratio
Adjustment for increase in non-residential new construction: 12.23% 1.1223 Adjustment for growth in City of Santa Fe Springs population: 1.05% 1.0105 Combined Adjustment Factor 1.1223 X 1.0105 1.1341 (A)
Appropriations Subject to the Limit (2022-23 Proposed Budget Figures):

Property Tax $ 4,200,000
Utility User's Tax 6,300,000
Sales & Use Tax 33,600,000
Transaction & Use Tax 14,200,000
Transient Occupancy Tax 149,000
Business Operations Tax 765,000
Property Transfer Tax 260,600
Barrel Tax 288,400
Vehicle in Lieu Tax 2,266,000
Interest (50% allocated to proceeds from taxes) 250,000 Public Safety Augmentation Fund 186,000
Supplemental Law Enforcement Services Fund 150,000
Total Appropriations Subject to the Limit 62,615,000
Appropriations Limit 3,130,472,470 (B)
Amount Under the Limit $ 3,067,857,470

EXHIBIT A

CALCULATION OF APPROPRIATION LIMIT
FISCAL YEAR 2022-23
Change

May 2022
Attachment A
A. Price Factor: Article XIII B specifies that local jurisdictions select their cost of living factor to compute their appropriation limit by a vote of their governing body. The cost of living factor provided here is per capita personal income. If the percentage change in per capita personal income is selected, the percentage change to be used in setting the fiscal year 2022-23 appropriation limit is:

Per Capita Personal Income
Fiscal Year Percentage change
(FY) over prior year
2022-23 7.55
B. Following is an example using sample population change and the change in California per capita personal income as growth factors in computing a 2022-23 appropriation limit.
2022-23:

Per Capita Cost of Living Change = 7.55 percent
Population Change = -0.30 percent
Per Capita Cost of Living converted to a ratio: 7.55 + 100 = 1.0755 100
Population converted to a ratio: -0.30 + 100 = 0.997
100
Calculation of factor for FY 2022-23: 1.0755 x 0.997 = 1.0723

Fiscal Year 2022-23
Attachment B
Annual Percent Change in Population Minus Exclusions*
January 1, 2021 to January 1, 2022 and Total Population, January 1, 2022 Total
County Percent Change --- Population Minus Exclusions --- Population City 2021-2022 1-1-21 1-1-22 1-1-2022
La Canada Flintridge -1.03 20,291 20,081 20,081
La Habra Heights -1.08 5,655 5,594 5,594
Lakewood -0.99 81,681 80,876 80,876
La Mirada -0.77 49,074 48,696 48,696
Lancaster -0.62 172,298 171,234 175,164
La Puente -0.10 37,626 37,587 37,587
La Verne -0.93 32,608 32,304 32,304
Lawndale -1.07 31,638 31,301 31,301
Lomita -1.05 20,851 20,633 20,633
Long Beach 0.20 459,711 460,636 460,682
Los Angeles -0.88 3,851,093 3,817,053 3,819,538
Lynwood -0.80 67,260 66,723 66,723
Malibu -0.49 10,739 10,686 10,686
Manhattan Beach -1.29 35,357 34,902 34,902
Maywood -0.87 25,033 24,814 24,814
Monrovia -0.65 37,809 37,563 37,563
Montebello -0.90 62,180 61,622 61,622
Monterey Park -1.00 60,814 60,207 60,207
Norwalk -0.56 101,517 100,946 101,645
Palmdale -0.89 168,895 167,398 167,398
Palos Verdes Estates -1.04 13,116 12,980 12,980
Paramount -1.00 53,009 52,477 52,477
Pasadena -0.52 139,029 138,310 138,310
Pico Rivera -0.62 61,827 61,442 61,442
Pomona 0.60 148,879 149,766 149,766
Rancho Palos Verdes -0.98 41,861 41,451 41,468
Redondo Beach -1.10 69,742 68,972 68,972
Rolling Hills -1.12 1,703 1,684 1,684
Rolling Hills Estates 0.07 8,283 8,289 8,289
Rosemead -0.61 50,823 50,511 50,511
San Dimas -0.86 34,651 34,352 34,352
San Fernando 0.00 23,520 23,519 23,519
San Gabriel -1.03 39,250 38,845 38,845
San Marino -0.62 12,334 12,257 12,257
Santa Clarita 0.33 228,084 228,835 228,835
Santa Fe Springs 1.05 18,523 18,718 18,763
Santa Monica -0.89 93,242 92,408 92,408
Sierra Madre -0.86 10,959 10,865 10,865
Signal Hill -0.90 11,702 11,597 11,597
South El Monte 0.70 19,532 19,668 19,668
*Exclusions include residents on federal military installations and group quarters residents in state mental institutions, state and federal correctional institutions and veteran homes.

Fiscal Year 2022-23
Attachment B
Annual Percent Change in Population Minus Exclusions*
January 1, 2021 to January 1, 2022 and Total Population, January 1, 2022 County
City
Percent Change
2021-2022
--- Population Minus Exclusions ---
1-1-21 1-1-22
Total
Population
1-1-2022
South Gate
South Pasadena
Temple City
Torrance
Vernon

0.51 -1.00
-0.64
-0.99
-0.95
92,783
26,849
36,497
145,876
210
93,259
26,580
36,262
144,433
208
93,259
26,580
36,262
144,433
208
Walnut
West Covina
West Hollywood
Westlake Village
Whittier
Unincorporated
-0.88
-0.96
-0.43
-0.96

0.05 -0.67
28,344
109,290
35,553
8,121
87,886
1,016,054
28,094
108,243
35,399
8,043
87,931
1,009,225
28,094
108,243
35,399
8,043
87,931
1,009,857
County Total -0.71 9,923,635 9,853,284 9,861,224
*Exclusions include residents on federal military installations and group quarters residents in state mental institutions, state and federal correctional institutions and veteran homes.

City Council Meeting June 21, 2022
Report Submitted By: Travis Hickey, City Treasurer
Lana Dich, Asst. City Treasurer Date of Report: June 17, 2022 City of Santa Fe Springs

CONSENT AGENDA
Quarterly Treasurer’s Report of Investments for the Quarter Ended March 31, 2022.

BACKGROUND
Beginning January 2016, the City retained PFM Asset Management LLC (“PFMAM”) to manage $20.8 million of the City’s reserve funds (“managed portfolio”).

Based on a cash flow analysis and discussion with PFMAM and the Council Finance Subcommittee, an additional $10.0 million of the City’s reserve funds were added to the portfolio in May 2017 bringing the total principal invested to $30.8 million.

At the end of each calendar quarter, PFMAM provides a detailed written report covering general market conditions as well as the balances and transactions of the City’s portfolio for the previous quarter. PFMAM’s detailed report is attached to this Treasurer’s Report. The Treasurer’s Report for the Quarter Ended March 31, 2022 was also emailed to each Councilmember on April 28, 2022.

Ms. Sarah Meacham, Director with PFMAM, along with her staff, have also regularly provided an update, including a detailed review of the results of the portfolio for the quarter, a discussion of the investment strategies and policies which govern the City’s portfolio, and general market conditions.

CITY INVESTMENT PORTFOLIO
The City’s managed portfolio generated interest income in the amount of $130,094 for the most recent quarter. The interest income represents actual cash receipts received by the City plus the amortization of any discounts or premiums. The figure does not include unrealized gains or losses.

The overall performance of the City’s managed portfolio account is expressed in a “yield” and “total return”. The yield is a forward-looking measurement which shows the income and dividends on the investments to be expected in the future based on current holdings, expressed as an annual rate of return. The City’s yield (at cost value) at March 31, 2022 was 1.24%, same as previous quarter.

Total return on the other hand, is a backward-looking measurement focused on not only interest earned, but also realized and unrealized gains/losses. Realized gains/losses result from selling a security at a price higher or lower than was actually paid to purchase it. Unrealized gains/losses result from market value increases and

RECOMMENDATION
That the City Council receive and file the report.

ITEM NO. 10G
City Council Meeting June 21, 2022
Report Submitted By: Travis Hickey, City Treasurer
Lana Dich, Asst. City Treasurer Date of Report: June 17, 2022

City of Santa Fe Springs
decreases in security values for securities which are still held in the portfolio.

Of particular importance to the City’s portfolio is the inverse relationship between yield and market value. In general, when yields go up, market values go down, and vice versa. For example, if the City is holding a bond which pays 1.0% and the market yield increases to 1.1% the market value of the City’s 1.0% security will decline so that an investor purchasing the security would pay a price below face value which would cause the security to yield 1.1% even though it only pays 1.0%. If held until maturity, the security would pay the full face value along with the 1.0% stated interest throughout the term. In other words, “unrealized” gains/losses are not “realized” unless the security is actually sold prior to maturity.

The yield at June 30, 2016 was 1.25% and fell to 1.24% as of March 31, 2022. This has resulted in unrealized gains, however, it is important to point out that the investments continue to pay the stated interest on the security. The unrealized gains simply represent the amount that the City would gain, if the security was sold in the current market conditions. It is not an actual gain of the City’s principal value invested.

It is also important to remember that rising yield markets are good in the sense that as securities mature, they are replaced with higher rate securities, increasing the overall interest income of the portfolio.

Because the total return (as opposed to the yield) takes into account realized and unrealized gains/losses, it is generally compared against a target benchmark to evaluate portfolio performance. The City’s benchmark is the 1-5 Year U.S. Treasury Index. The total return for the City’s portfolio for the quarter ended March 31, 2022 was (3.14%) while the benchmark total return was (3.16%). The City’s overall portfolio performance was 0.02% better than the benchmark. Since inception of the managed portfolio (January 2016) the total return for the City’s portfolio was 1.24% vs. the benchmark total return of 0.94% through March 31, 2022.

Aside from the PFMAM managed portfolio, the City’s other investments are the Local Agency Investment Fund (“LAIF”), a pooled investment fund managed by the California State Treasurer, and the First American Treasury Obligations Fund, a U.S.

Treasury money market fund (“MMF”) used by the City’s bond trustee. LAIF returned an annualized rate of 0.32% for the quarter while the MMF returned 1.00%. The LAIF accounts returned a total of $58,050 in interest income.

City Council Meeting June 21, 2022
Report Submitted By: Travis Hickey, City Treasurer
Lana Dich, Asst. City Treasurer Date of Report: June 17, 2022

City of Santa Fe Springs
The attached Treasurer’s Report contains all investments under the control of the City.

The investments, at market value, are summarized as follows:

Pooled Cash and Investments $ 94.0 million
Successor Agency Bond Funds 18.0 million
Bonds Reserves and Debt Service 9.5 million
Total Investments $121.5 million
Pooled cash and investments consist of the PFMAM managed account and LAIF. The Successor Agency bond funds are held in LAIF and are the source of funds for ongoing capital improvement projects. Spending on multiple capital projects has occurred and these funds will be drawn down for deposit into the City’s pooled cash and investments.

The bond reserves and debt service funds consist of the MMF accounts held, as required, by the City’s third party trustee, U.S. Bank. These funds are held for debt service payments and reserves for bond issuances of the Water Utility Authority, the Successor Agency, and the Heritage Springs Assessment District.

The investments, at market value, are summarized by type as follows:

PFMAM Managed Portfolio $ 32.9 million
LAIF 79.1 million
MMF 9.5 million
Total Investments $121.5 million
PFMAM and Staff will continue to work with the Council Finance Subcommittee to review any proposed changes to the portfolio make up.

Raymond R. Cruz
City Manager
Attachments:

1. Treasurer’s Report of Investments (Quarter Ended March 31, 2022)

2. PFMAM Investment Performance Review (Quarter Ended March 31, 2022)

QUARTERLY

BEGINNING DEPOSITS/ WITHDRAWALS/ ENDING MARKET INVESTMENT ANNUAL

DESCRIPTION BALANCE PURCHASES SALES BALANCE VALUE EARNING YIELD POOLED INVESTMENTS:

PFM MANAGED PORTFOLIO (1) $ 33,855,478.26 $ 3,022,178.31 $ 2,796,692.92 $ 34,080,963.65 $ 32,936,214.45 $ 130,094.00 1.24% LOCAL AGENCY INVESTMENT FUND 50,103,395.56 17,328,811.27 5,700,000.00 61,732,206.83 61,037,937.91 43,678.87 0.32% SUBTOTAL POOLED INVESTMENTS 83,958,873.82 20,350,989.58 8,496,692.92 95,813,170.48 93,974,152.36 173,772.87 SUCCESSOR AGENCY BOND FUNDS (2):

LOCAL AGENCY INVESTMENT FUND 18,226,902.87 10,493.13 - 18,237,396.00 18,032,289.82 14,371.54 0.32% SUCCESSOR AGENCY FUNDS:

LOCAL AGENCY INVESTMENT FUND 0.96 - - 0.96 0.95 - 0.32% INVESTMENTS HELD BY FISCAL AGENT (3):

U.S. BANK CORPORATE TRUST MONEY MARKET FUNDS:

First American Treasury Obligations Fund Class D:

City of Santa Fe Springs 556,222.77 8.21 - 556,230.98 556,230.98 8.21 1.00% Successor Agency 2,198,045.58 6,642,238.73 84,654.04
8,755,630.27 8,755,630.27 79.05 1.00%
Heritage Springs Assessment District 169,415.04 38,672.49 38,675.00 169,412.53 169,412.53 2.76 1.00% Subtotal First American Treasury Obligations Fund Class D 2,923,683.39 6,680,919.43 123,329.04 9,481,273.78 9,481,273.78 90.02 SUBTOTAL INVESTMENTS HELD BY FISCAL AGENT (U.S. BANK) 2,923,683.39 6,680,919.43 123,329.04 9,481,273.78 9,481,273.78 90.02 TOTAL INVESTMENTS $105,109,461.04 $ 27,042,402.14 $ 8,620,021.96 $ 123,531,841.22 $121,487,716.91 $ 188,234.43 Notes:
(1) See attached report prepared by PFM, the City's investment manager, for detailed analysis of the managed portfolio. All information except for the market value is reported on the amortized cost basis. Investment earnings on the amortized cost basis do not include unrealized gains and losses. (2) Unspent bond proceeds of the former redevelopment agency to be used for ongoing capital improvement projects. (3) Fiscal agent accounts are held by U.S. Bank as Trustee for debt service reserves and payment of bond principal and interest.

CERTIFICATION:

The investment transactions are in compliance with the investment policy approved by the City Council.

There is sufficient liquidity within the portfolio to meet all anticipated expenditures for the next six months.

TRAVIS HICKEY, CITY TREASURER

CITY OF SANTA FE SPRINGS

TREASURER'S REPORT OF INVESTMENTS
QUARTER ENDED MARCH 31, 2022
Investment Performance Review
For the Quarter Ended March 31, 2022
Client Management Team PFM Asset Management LLC
Sarah Meacham, Managing DirectorRichard Babbe, CCM, Senior Managing Consultant 213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
633 W 5th St., 25th Floor
Los Angeles, CA 90071
213-415-1699
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public City of Santa Fe Springs
© PFM Asset Management LLC pfmam.com |
Market Update
PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
▸ Invasion of Ukraine impacted the economic landscape
▹ Commodity prices soared, especially energy▹ Created significant geopolitical uncertainty▹ Triggered market volatility ▸ The U.S. economy is characterized by:
▹ A strong labor market▹ Inflation at a 40-year high▹ Depressed consumer confidence ▸ The Federal Reserve is tightening monetary policy
▹ Initiated the first of what will be many rate hikes in 2022▹ Balance sheet reduction likely to start soon ▸ U.S. Treasury yield curve has partially inverted
▹ Yield on 2-year Treasury notes rose above the 10-year Treasury▹ One early, but imperfect warning sign for a future recession Current Market Themes
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
1 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: Observatory of Economic Complexity (OEC); as of March 2022.Data is based on 2020 exports.

Global Production Share
of Top 5 Exports
Crude Petroleum 11%
Refined Petroleum 10%
Petroleum Gas 9%Gold 4%Coal Briquettes 15%
Top 5 Trading Partners
China 15%United Kingdom 8%
Netherlands 7%Belarus 5%Germany 4%
Global Production Share
of Top 5 Exports
Seed Oils 39%
Corn 12%
Wheat 9%Iron Ore 3%Semi-Finished Iron 12%
Top 5 Trading Partners
China 14%
Poland 6%
Russia 6%Turkey 5%Egypt 4%
Russia (12th largest) Ukraine (58th largest)
Russia’s Invasion of Ukraine Impacts Global Commodity Markets, But Has Limited Impact on U.S. Economy
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
2 For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update Invasion Has Put Additional Pressure on Supply Chains and Commodity Prices

CLIENT NAME
For the Quarter Ended March 31, 2022
Market Update
Energy Agriculture Industrial Metals
© PFM Asset Management LLC | pfmam.com
Source: Bloomberg, as of 3/31/2022.
$4$6$8
$10$12$14$16$18
2018 2019 2020 2021 2022
Soybean (per bushel)
$0
$20$40$60$80
$100$120
2018 2019 2020 2021 2022
WTI Crude Oil (per barrel)
$2$4$6$8
$10$12$14$16
2018 2019 2020 2021 2022
Wheat (per bushel)
$1.00$1.50$2.00$2.50$3.00$3.50$4.00$4.50
2018 2019 2020 2021 2022
Retail Gasoline (per gallon)
$2.00$2.50$3.00$3.50$4.00$4.50$5.00$5.50
2018 2019 2020 2021 2022
Copper (per lb.)
$1,000$1,500$2,000$2,500$3,000$3,500$4,000
2018 2019 2020 2021 2022
Aluminum (per metric ton)
YTD: +33%
YTD: +29%
YTD: +31% YTD: +7%
YTD: +22%
YTD: +24%
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
3 For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: BLS. Gov, data as of February 2022.

CPI Categories
 Commodities Services Energy Food
Majority of
components are above
the Fed’s 2% average CPI target
2% Fed Inflation
Target
Index Weighting
Size of bubbles
represent contribution to headline CPI
Food
Gasoline and
Fuel Oil
Energy Services
New Vehicles
Used Cars
and Trucks
Apparel,
Medical Care,
Alcohol, and
Others
Shelter Medical Care, Transportation
and Others
0%
10%20%30%40%50%
0% 5% 10% 15% 20% 25% 30% 35% 40%
Year-over-Year Inflation
CPI Components
Inflation is Prevalent Throughout the Economy
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
4 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com

2.6%

5.4% 5.4%

7.0%

7.9%1
0%1%2%3%4%5%6%7%8%9%
10%
Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22
Consumer Price Index
% Change YoY
Mar 2021

6.0%

0.16%
0 Jun 2021

5.9%

0.25%
0 Sept 2021

4.7%

0.28%
0 Dec 2021

3.9%

0.73%
3 Mar 2022

3.6%

2.34%
7 Indicators
Unemployment Rate2-Year Treasury Yield1
Fed Projections
# of 2022 Rate Hikes2
“…the Committee will aim to achieve inflation moderately above 2 percent for some time…” 3
“Inflation is elevated, largely reflecting transitory factors.” “Inflation remains elevated, reflecting supply and demand imbalances… higher energy prices, and broader price pressures.”
Federal Reserve Policy Has Lagged Surging Inflation
Source: Bloomberg, data as of 4/01/2022.1. March’s CPI is assumed to remain unchanged from February’s CPI reading of 7.9%; Treasury yields are as of month-end.

2. Calculated using the 2022 median Federal Funds rate from the FOMC Summary of Economic Projections. Assumes 0.25% rate hikes.3. Quotes are sourced directly from FOMC press release statements.

City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
5 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: Bloomberg, as of 3/31/2022.*Shading is based of economic data from 2/28/2012 – 2/28/2022.

Economic Conditions Are Mixed
Best Worst
Prices
1/20
2/20
3/20
4/20
5/20
6/20
7/20
8/20
9/20
10/20
11/20
12/20
1/21
2/21
3/21
4/21
5/21
6/21
7/21
8/21
9/21
10/21
11/21
12/21
1/22
2/22
CPI YoYConfidence
U. Of Mich. SentimentManufacturingISM ManufacturingLaborUnemployment RateRetailRetail Sales MoMHousingExisting Home SalesNew Home Sales City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
6 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: Bloomberg, as of 3/31/2022.

Treasury Yield Curve Partially Inverted; Sharp Rise in Yields Has Negatively Impacted Returns

0.48%

2.33%

2.46%

2.34% 2.45%

0.00%0.50%

1.00%1.50%2.00%2.50%3.00%
3 M
1 Y
2 Y
3 Y
4 Y
5 Y
10 Y
30 Y
Maturity
U.S. Treasury Yield Curve
March 31, 2022December 31, 2021
-0.80%
-2.34%
-3.16%
-4.02%
-5.00%-4.00%-3.00%-2.00%-1.00%

0.00%1.00%
1 Year
1 - 3 Year
1 - 5 Year
1 - 10 Year
U.S. Treasury Returns – Q1 2022
Rising yields in Q1
negatively affected bond returns
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
7 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Sector Yield Spreads Have Widened in Q1 2022
Source: ICE BofAML 1-5 year Indices via Bloomberg, MarketAxess and PFM as of 3/31/2022. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries. CMBS is Commercial Mortgage-Backed Securities.

0.2%0.3%0.4%0.5%0.6%0.7%0.8%0.9%1.0%
Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22
Corporate Notes A-AAA Yield Spreads
-0.10%-0.05%

0.00%0.05%0.10%0.15%0.20%
Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22
Federal Agency Yield Spreads
-0.50%

0.00%0.50%1.00%1.50%
Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22
Mortgage-Backed Securities Yield Spreads
Agency MBS AAA CMBS Index

0.2%0.3%0.4%0.5%0.6%0.7%0.8%0.9%1.0%
Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22
Asset-Backed Securities AAA Yield Spreads
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
8 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: Bloomberg, as of 3/31/2022.

Worst Performance in Over 40 Years
0 102030405060
-4%
-3%
-2%
-1%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
11%
12%
13%
Frequency
Distribution of Quarterly Returns
(3/31/78 - 3/31/22)
2022 Q1
Return
-3.16%
-4%-2%
0%2%4%6%8%
10%12%14%
Mar-78
Mar-89
Mar-00
Mar-11
Mar-22
Quarterly Performance
(3/31/78 - 3/31/22)
Median 1.09%
ICE BofA 1-5 Year Treasury Index
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
9 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source (graph): Bloomberg, data as of 3/31/2022. Source (table): ICE BofAML Indices, data as of 3/31/2022.

Performance Has Historically Suffered as the Fed Raised Rates

0.0%0.5%1.0%1.5%2.0%2.5%3.0%3.5%4.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
3-Year Treasury Yield
Annual Returns of the ICE BofAML 1-5 Year Treasury Index 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD

0.91% -0.19% 1.24% 0.98% 1.09% 0.65% 1.52% 4.20% 4.25% -1.10% -3.16% City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
10 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: ICE BofAML Indices. ABS indices are 0-5 year, based on weighted average life. As of 3/31/2022.

Rising Rates and Wider Spreads Hurt Fixed-Income Returns in Q1 1-5 Year Indices
-3.16% -3.08%
-1.81%
-3.62%
-4.80%
-7.0%-6.0%-5.0%-4.0%-3.0%-2.0%-1.0%

0.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
Q1 2022

1.04% 1.01%

1.35%

2.10%

2.71%

0.0%0.5%1.0%1.5%2.0%2.5%3.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
10 Year Average
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
11 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Fixed-Income Sector Commentary — 1Q 2022
▸ U.S. Treasury securities generated negative
performance as the market repriced for an aggressiveFed rate hike cycle, pushing yields higher across allmaturities. By quarter-end, 2-year Treasury yieldsrose to 2.34%, the highest level since April 2019. ▸ Federal agency sector remained unattractive given
the historically tight yield spreads and minimal pickupvs. Treasuries. While volatility pushed spreads wideron callable structures, the rising rate environment wasnot favorable for taking on increased optionality risk. ▸ Supranational spreads remained tight, and supply
was limited as issuance lagged projections. Newissue opportunities, while sporadic, remained the bestentry point. ▸ Corporate credit spreads widened through the
quarter, driven by rising global tensions and a lesscertain macro-economic environment. Yield spreadsreached the widest levels since 2019 despite stableto-strong fundamentals. ▸ Asset-Backed AAA-rated auto and credit card yield
spreads increased toward 18-month wides. ABSoffered relative value compared to corporates asspreads between the two widened during the quarter. ▸ Mortgage-Backed Securities continued to
underperform. Prepayments experienced a materialslowdown as rates rose, which lengthened durationsand compounded the negative impact. The FederalReserve is poised to begin reducing their MBSholdings, so weakness in the sector could persist.CMBS valuations remained below historical averagesrelative to Treasuries as spreads remained tight. ▸ Taxable Municipal securities deals remain heavily
oversubscribed. Valuations remained stretched whichwarrants some selectively in the sector. ▸ Commercial Paper and CDs saw significant
repricing to higher yields, especially on maturitiesgreater than six months as issuers sought longer-termfunding in response to Fed rate hike expectations.

City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
12 © PFM Asset Management LLC pfmam.com |
Portfolio Review
© PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Account Summary
|
Account Summary
PFMAM Managed Account $33,018,226Total Program $33,018,226 Consolidated Summary
Sector Allocation

0.3% 0.0% 0.0% 2.0% 4.2%

24.2%

27.7% 28.2%

13.4%

0.0% 0.0% 0.0%
$0$2$4$6$8
$10$12
Millions
Under
30 days
31 to 60
days
61 to 90
days
91 to
180 days
181 days
to 1 year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
5 to 7 years
7 to 10
years
Over 10
years
Maturity Distribution
(Weighted Average Maturity: 979 Days)

1. Account summary includes market values, accrued interest, cash and cash equivalents. Sector allocation and the maturity distribution include market values and accrued interest.

8.6%

22.6%

1.8%

2.5%

2.1%

3.0%

11.7%

47.8%

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
ABS - $2,852,037
Corporate - $7,438,365
Negotiable CD - $579,448
Municipal - $820,946
Supranational - $680,211
Agency CMBS - $992,620
Federal Agency - $3,851,538
U.S. Treasury - $15,769,016
Portfolio Allocation Sector Limit for Analysis*
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. Excludes money market fund balances. *Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided. 14 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended December 31, 2021
Compliance
|
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended March 31, 2022, the account(s) managed by PFM Asset Management("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged : PFM Asset Management LLC
15 © PFM Asset Management LLC pfmam.com |
Account Summary
© PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Snapshot
|
Total market value includes accrued interest and balances invested in PFM Funds, as of March 31, 2022.Yield and duration calculations exclude balances invested in PFM Funds.The portfolio’s benchmark is the ICE BofAML 1-5 Year U.S. Treasury Index. Source: Bloomberg.

An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.

1. Portfolio Snapshot¹
Credit Quality - S&P
10%
30%
26% 27%
7%
5%
34%
28%
19%
14%
0%5%
10%15%20%25%30%35%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 48%Corporate | 23%Federal Agency | 12%
ABS | 9%Agency CMBS | 3%
Municipal | 3%Supranational | 2%Negotiable CD | 2%
Sector Allocation
AAA | 9%AA+ | 64%AA | 3%AA- | 2%A-1+ | 1%A+ | 5%A | 4%A- | 6%A-1 | 1% BBB+ | 4%Not Rated | 2%
Portfolio Statistics
Portfolio Effective Duration 2.42 years
Benchmark Effective Duration 2.54 yearsPortfolio Credit Quality AA Yield At Market 2.40%
Yield At Cost 1.24%
Total Market Value $33,018,226.49
Securities Sub-Total $32,902,168.33Cash $34,046.12
Accrued Interest $82,012.04
16 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Characteristics
|
Historical Sector Allocation
Only includes investments held within the separately managed account(s), excludes cash held in funds not managed by PFMAM. 53%13%
3%2%3%2%
18%
7%
Dec-21
48%12%
3%2%3%2%
23%
9%
Mar-22
17 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Portfolio Activity
Net Activity by Sector
($ millions)
U.S. TreasuryFederal Agency
Municipal
Agency CMBS
ABS
Corporate
U.S. Treasury
Federal Agency
Municipal
Agency CMBS
ABS
Corporate
($2.0) ($1.5) ($1.0) ($0.5) $0.0 $0.5 $1.0 $1.5 $2.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.

Sector Net ActivityCorporate $1,545,352
ABS $598,716Agency CMBS ($81,330)
Municipal ($137,527)Federal Agency ($292,272)U.S. Treasury ($1,475,478)Total Net Activity $157,460 Sales/Maturities Purchases
18 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Performance
|

1. The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is March 31, 2016.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.4. The portfolio’s benchmark is the ICE BofAML 1-5 Year U.S. Treasury Index. Source: Bloomberg. -4.0%-2.0%

0.0%2.0%
Return
Portfolio Benchmark
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years Since Inception¹ Interest Earned² $99,498 $431,013 $1,801,025 $3,007,524 $3,376,359 Change in Market Value ($1,169,234) ($1,687,687) ($659,499) ($793,896) ($1,095,619) Total Dollar Return ($1,069,736) ($1,256,674) $1,141,526 $2,213,628 $2,280,740 Total Return³
Portfolio -3.14% -3.67% 1.18% 1.43% 1.24%Benchmark⁴ -3.16% -3.72% 0.92% 1.16% 0.94% 3 Months 1 Year 3 Years 5 Years Since Inception
Difference 0.02% 0.06% 0.26% 0.28% 0.30%
19 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Performance
|

1. The lesser of 10 years or since inception is shown. Performance inception date is March 31, 2016.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Realized gains / (losses) are shown on an amortized cost basis.

Accrual Basis Earnings
Accrual Basis EarningsInterest Earned²Realized Gains / (Losses)³Change in Amortized CostTotal Earnings 3 Months
$99,498$28,681
$1,915
$130,094
1 Year
$431,013$177,924
$5,195
$614,132
3 Years
$1,801,025
$549,223
$22,317
$2,372,565
5 Year
$3,007,524
$247,472
($11,452)
$3,243,544
Since Inception¹
$3,376,359
$258,888
($109,904)
$3,525,344
20 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Fixed-Income Sector Outlook – 2Q 2022
Sector Our Investment Preferences

C O M M E R C I A L P A P E R
/ C D

T R E A S U R I E S
T-Bill
T-Note

F E D E R A L A G E N C I E S
Bullets
Callables

S U P R A N A T I O N A L S

C O R P O R A T E S
Financials
Industrials

S E C U R I T I Z E D
Asset-Backed
Agency Mortgage-Backed
Agency CMBS

M U N I C I P A L S
Negative Slightly Negative Neutral Slightly Positive Current outlook Outlook one quarter ago Positive City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
21 © PFM Asset Management LLC pfm.com |
Issuer Distribution
© PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Summary
|
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.

Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / FitchU.S. Treasury 47.8% UNITED STATES TREASURY 47.8% AA / Aaa / AAA
Federal Agency 11.7%
FANNIE MAE 3.1% AA / Aaa / AAAFEDERAL HOME LOAN BANKS 1.0% AA / Aaa / NRFREDDIE MAC 7.7% AA / Aaa / AAA Agency CMBS 3.0%
FANNIE MAE 0.3% AA / Aaa / AAAFREDDIE MAC 2.7% AA / Aaa / AAA Supranational 2.1%
INTER-AMERICAN DEVELOPMENT BANK 1.5% AAA / Aaa / AAAINTL BANK OF RECONSTRUCTION AND DEV 0.6% AAA / Aaa / AAA Municipal 2.5%
CALIFORNIA EARTHQUAKE AUTHORITY 0.2% NR / NR / AFLORIDA STATE BOARD OF ADMIN FIN CORP 0.7% AA / Aa / AANEW JERSEY TURNPIKE AUTHORITY 0.2% AA / A / ANEW YORK ST URBAN DEVELOPMENT CORP 1.0% AA / NR / AASAN JUAN UNIFIED SCHOOL DISTRICT 0.4% NR / Aa / NR Negotiable CD 1.8%
CREDIT SUISSE GROUP RK 0.8% A / Aa / ADNB ASA 1.0% AA / Aa / NR Corporate 22.6%
3M COMPANY 0.8% A / A / NR
ADOBE INC 0.6% A / A / NRAMAZON.COM INC 1.2% AA / A / AAAMERICAN EXPRESS CO 0.3% BBB / A / A Security Type / Issuer Market Value (%) S&P / Moody's / FitchCorporate 22.6% AMERICAN HONDA FINANCE 0.3% A / A / AAPPLE INC 0.4% AA / Aaa / NRASTRAZENECA PLC 0.5% A / A / NR BANK OF AMERICA CO 1.5% A / A / AA
BMW FINANCIAL SERVICES NA LLC 0.2% A / A / NR
BRISTOL-MYERS SQUIBB CO 0.5% A / A / NR
BURLINGTON NORTHERN SANTA FE 0.3% AA / A / NRCATERPILLAR INC 0.3% A / A / ACHARLES SCHWAB 0.3% A / A / ACHEVRON CORPORATION 0.3% AA / Aa / NRCITIGROUP INC 1.2% BBB / A / ACOMCAST CORP 0.5% A / A / ADEERE & COMPANY 0.8% A / A / AGENERAL DYNAMICS CORP 0.9% A / A / NR GOLDMAN SACHS GROUP INC 0.7% BBB / A / AHOME DEPOT INC 0.1% A / A / AJP MORGAN CHASE & CO 1.5% A / A / AAMERCK & CO INC 0.8% A / A / AMORGAN STANLEY 0.5% BBB / A / ANATIONAL RURAL UTILITIES CO FINANCECORP

0.3% A / A / A
NESTLE SA 0.7% AA / Aa / A
PACCAR FINANCIAL CORP 0.2% A / A / NR
PEPSICO INC 0.2% A / A / NRPFIZER INC 0.9% A / A / ARoche Holding AG 1.3% AA / Aa / NRSTATE STREET CORPORATION 0.8% A / A / AA 22 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Summary
|
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.

Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / FitchCorporate 22.6% TARGET CORP 0.6% A / A / ATHE BANK OF NEW YORK MELLONCORPORATION

0.7% A / A / AA
THE WALT DISNEY CORPORATION 1.0% BBB / A / ATOYOTA MOTOR CORP 0.7% A / A / AUNITEDHEALTH GROUP INC 0.7% A / A / A ABS 8.6%
BMW FINANCIAL SERVICES NA LLC 0.2% AAA / Aaa / NRCAPITAL ONE FINANCIAL CORP 1.3% AAA / Aaa / AAACARMAX AUTO OWNER TRUST 1.2% AAA / Aaa / AAADISCOVER FINANCIAL SERVICES 0.3% AAA / Aaa / NRFORD CREDIT AUTO OWNER TRUST 0.1% NR / Aaa / AAA

GM FINANCIAL CONSUMER AUTOMOBILETRUST

0.5% AAA / Aaa / AAA
GM FINANCIAL LEASINGTRUST 0.5% AAA / Aaa / AAAHARLEY-DAVIDSON MOTORCYCLE TRUST 0.1% AAA / Aaa / NRHONDA AUTO RECEIVABLES 0.4% AAA / NR / AAAHYUNDAI AUTO RECEIVABLES 1.0% AAA / NR / AAAKUBOTA CREDIT OWNER TRUST 0.9% NR / Aaa / AAA NISSAN AUTO LEASE TRUST 0.2% AAA / Aaa / NRToyota Lease Owner Trust 0.3% AAA / Aaa / NRTOYOTA MOTOR CORP 0.3% AAA / NR / AAAVERIZON OWNER TRUST 0.8% AAA / Aaa / AAAVOLKSWAGEN OF AMERICA 0.4% AAA / Aaa / NRWORLD OMNI AUTO REC TRUST 0.3% AAA / NR / AAA Total 100.0%
23 © PFM Asset Management LLC pfm.com |
Portfolio Transactions
© PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY1/3/2022 1/6/2022 325,000.00 91282CDQ1 US TREASURY N/B NOTES 1.25% 12/31/2026 323,340.77 1.36%1/11/2022 1/19/2022 75,000.00 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 74,993.48 1.26%1/18/2022 1/25/2022 60,000.00 17327CAN3 CITIGROUP INC CORP NOTES (CALLABLE) 2.01% 1/25/2026 60,000.00 2.01%1/19/2022 1/24/2022 45,000.00 87612EBM7 TARGET CORP CORPORATE NOTES 1.95% 1/15/2027 44,923.50 1.99%1/26/2022 1/28/2022 175,000.00 00724PAB5 ADOBE INC CORP NOTE 1.90% 2/1/2025 178,712.04 1.49%1/28/2022 2/1/2022 155,000.00 87612EBM7 TARGET CORP CORPORATE NOTES 1.95% 1/15/2027 154,505.42 2.03%1/31/2022 2/7/2022 45,000.00 63743HFC1 NATIONAL RURAL UTIL COOP CORPORATE NOTES 1.87% 2/7/2025 44,998.65 1.88%2/2/2022 2/7/2022 75,000.00 857477BR3 STATE STREET CORP CORPORATE NOTES 1.74% 2/6/2026 75,000.00 1.75%2/16/2022 2/24/2022 100,000.00 46647PCV6 JPMORGAN CHASE & CO CORPORATE NOTES 2.59% 2/24/2026 100,000.00 2.60%2/17/2022 2/22/2022 200,000.00 857477BM4 STATE STREET CORP NOTES (CALLABLE) 2.90% 3/30/2026 206,314.57 2.38%3/1/2022 3/4/2022 85,000.00 025816CQ0 AMERICAN EXPRESS CO CORP NOTES (CALLABLE 2.25% 3/4/2025 84,914.15 2.29%3/3/2022 3/10/2022 425,000.00 771196BT8 ROCHE HOLDINGS INC (CALLABLE) CORPORATE 2.13% 3/10/2025 425,000.00 2.13%3/8/2022 3/10/2022 125,000.00 24422EWD7 JOHN DEERE CAPITAL CORP CORPORATE NOTES 2.35% 3/8/2027 124,714.48 2.40%3/9/2022 3/16/2022 185,000.00 448977AD0 HART 2022-A A3 2.22% 10/15/2026 184,992.88 2.22%3/10/2022 3/17/2022 65,000.00 172967NL1 CITIGROUP INC CORP NOTES (CALLABLE) 3.29% 3/17/2026 65,000.00 3.29%3/15/2022 3/23/2022 170,000.00 50117EAC8 KCOT 2022-1A A3 2.67% 10/15/2026 169,975.69 2.67%3/23/2022 3/30/2022 325,000.00 14041NFZ9 COMET 2022-A1 A1 2.80% 3/15/2027 324,975.50 2.80% 24 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY3/24/2022 3/28/2022 25,000.00 437076CM2 HOME DEPOT INC (CALLABLE) CORPORATE NOTE 2.70% 4/15/2025 24,956.25 2.76% Total BUY 2,660,000.00 2,667,317.38 0.00
INTEREST1/1/2022 1/25/2022 313,220.76 3137AVXN2 FHLMC MULTIFAMILY STRUCTURED P 2.35% 7/1/2022 614.701/1/2022 1/25/2022 62,647.81 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 119.031/1/2022 1/1/2022 70,000.00 646140DN0 NJ TURNPIKE AUTHORITY TXBL REV BONDS 0.89% 1/1/2025 313.951/1/2022 1/25/2022 300,000.00 3137B1BS0 FHLMC MULTIFAMILY STRUCTURED P 2.51% 11/1/2022 627.501/1/2022 1/1/2022 255,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/2025 1,603.951/1/2022 1/25/2022 66,404.04 3136ABPW7 FNA 2013-M1 A2 2.36% 8/1/2022 130.851/1/2022 1/25/2022 3,577.22 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 9.551/1/2022 1/25/2022 275,000.00 3137AWQH1 FHLMC MULTIFAMILY STRUCTURED P 2.30% 8/1/2022 528.691/1/2022 1/25/2022 19,956.04 3137B5JL8 FHLMC MULTIFAMILY STRUCTURED P 2.66% 2/1/2023 44.391/1/2022 1/1/2022 35,000.00 20772KJU4 CT ST TXBL GO BONDS 2.50% 7/1/2022 437.501/1/2022 1/25/2022 30,228.95 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 127.691/1/2022 1/1/2022 70,000.00 13017HAJ5 CA ST EARTHQUAKE AUTH TXBL REV BONDS 1.32% 7/1/2022 464.451/3/2022 1/3/2022 MONEY0002 MONEY MARKET FUND 0.491/8/2022 1/8/2022 150,000.00 89236TFS9 TOYOTA MOTOR CREDIT CORP CORP NOTES 3.35% 1/8/2024 2,512.50 25 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
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Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/15/2022 1/15/2022 75,000.00 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 46.251/15/2022 1/15/2022 85,000.00 14316HAC6 CARMX 2020-4 A3 0.50% 8/15/2025 35.421/15/2022 1/15/2022 155,000.00 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 71.041/15/2022 1/15/2022 54,051.72 34533FAD3 FORDO 2019-A A3 2.78% 9/15/2023 125.221/15/2022 1/15/2022 100,000.00 89238JAC9 TAOT 2021-D A3 0.71% 4/15/2026 59.171/15/2022 1/15/2022 35,000.00 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 9.921/15/2022 1/15/2022 70,000.00 65480EAD3 NALT 2020-B A3 0.43% 10/16/2023 25.081/15/2022 1/15/2022 95,000.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 45.921/15/2022 1/15/2022 1,200,000.00 91282CBE0 US TREASURY NOTES 0.12% 1/15/2024 750.001/15/2022 1/15/2022 95,000.00 14044CAC6 COPAR 2021-1 A3 0.77% 9/15/2026 60.961/15/2022 1/15/2022 120,000.00 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 81.001/15/2022 1/15/2022 70,000.00 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 22.171/15/2022 1/15/2022 200,000.00 91282CCL3 US TREASURY N/B NOTES 0.37% 7/15/2024 375.001/15/2022 1/15/2022 125,000.00 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 58.331/15/2022 1/15/2022 7,116.75 14313FAD1 CARMAX AUTO OWNER TRUST 3.13% 6/15/2023 18.561/15/2022 1/15/2022 46,115.37 41284UAD6 HDMOT 2020-A A3 1.87% 10/15/2024 71.861/15/2022 1/15/2022 44,610.27 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 99.63 26 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/15/2022 1/15/2022 110,000.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 47.671/16/2022 1/16/2022 8,476.88 36255JAD6 GMCAR 2018-3 A3 3.02% 5/16/2023 21.331/16/2022 1/16/2022 80,000.00 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 45.331/18/2022 1/18/2022 125,000.00 43813KAC6 HAROT 2020-3 A3 0.37% 10/18/2024 38.541/20/2022 1/20/2022 15,369.96 92869BAD4 VALET 2018-2 A3 3.25% 4/20/2023 41.631/20/2022 1/20/2022 125,000.00 92868KAC7 VALET 2021-1 A3 1.02% 6/22/2026 106.251/20/2022 1/20/2022 125,000.00 380144AC9 GMALT 2021-2 A3 0.34% 5/20/2024 35.421/20/2022 1/20/2022 90,000.00 89238EAC0 TLOT 2021-A A3 0.39% 4/22/2024 29.251/20/2022 1/20/2022 137,093.13 92348AAA3 VZOT 2019-C A1A 1.94% 4/22/2024 221.631/20/2022 1/20/2022 100,000.00 92348TAA2 VZOT 2020-A A1A 1.85% 7/22/2024 154.171/20/2022 1/20/2022 60,000.00 362569AC9 GMALT 2020-3 A3 0.45% 8/21/2023 22.501/20/2022 1/20/2022 100,000.00 92290BAA9 VZOT 2020-B A 0.47% 2/20/2025 39.171/21/2022 1/21/2022 395,000.00 3137EAEU9 FREDDIE MAC NOTES 0.37% 7/21/2025 740.631/25/2022 1/25/2022 60,000.00 05591RAC8 BMWLT 2021-1 A3 0.29% 1/25/2024 14.501/27/2022 1/27/2022 175,000.00 61761J3R8 MORGAN STANLEY CORP NOTES 3.12% 7/27/2026 2,734.381/31/2022 1/31/2022 125,000.00 912828V80 US TREASURY NOTES 2.25% 1/31/2024 1,406.251/31/2022 1/31/2022 100,000.00 912828Z52 US TREASURY NOTES 1.37% 1/31/2025 687.50 27 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/31/2022 1/31/2022 200,000.00 91282CBH3 US TREASURY NOTES 0.37% 1/31/2026 375.001/31/2022 1/31/2022 400,000.00 91282CAB7 US TREASURY NOTES 0.25% 7/31/2025 500.002/1/2022 2/1/2022 125,000.00 798306WM4 SAN JUAN USD, CA TXBL GO BONDS 0.49% 8/1/2023 311.882/1/2022 2/25/2022 27,729.47 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 48.342/1/2022 2/25/2022 18,015.72 3137B5JL8 FHLMC MULTIFAMILY STRUCTURED P 2.66% 2/1/2023 40.072/1/2022 2/1/2022 MONEY0002 MONEY MARKET FUND 2.002/1/2022 2/25/2022 59,953.47 3136ABPW7 FNA 2013-M1 A2 2.36% 8/1/2022 118.142/1/2022 2/25/2022 3,568.14 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 9.522/1/2022 2/25/2022 62,508.66 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 124.592/1/2022 2/25/2022 275,000.00 3137AWQH1 FHLMC MULTIFAMILY STRUCTURED P 2.30% 8/1/2022 528.692/1/2022 2/1/2022 35,000.00 00724PAA7 ADOBE INC CORP NOTE 1.70% 2/1/2023 297.502/1/2022 2/1/2022 175,000.00 00724PAB5 ADOBE INC CORP NOTE 1.90% 2/1/2025 1,662.502/1/2022 2/25/2022 312,354.54 3137AVXN2 FHLMC MULTIFAMILY STRUCTURED P 2.35% 7/1/2022 613.002/1/2022 2/25/2022 300,000.00 3137B1BS0 FHLMC MULTIFAMILY STRUCTURED P 2.51% 11/1/2022 627.502/6/2022 2/6/2022 80,000.00 69371RQ66 PACCAR FINANCIAL CORP CORPORATE NOTES 1.80% 2/6/2025 720.002/8/2022 2/8/2022 65,000.00 63743HEU2 NATIONAL RURAL UTIL COOP CORPORATE NOTES 0.35% 2/8/2024 113.752/9/2022 2/9/2022 110,000.00 02665WDY4 AMERICAN HONDA FINANCE CORPORATE NOTES 0.75% 8/9/2024 343.75 28 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/11/2022 2/11/2022 35,000.00 166756AJ5 CHEVRON USA INC CORPORATE NOTES 0.42% 8/11/2023 74.552/12/2022 2/12/2022 140,000.00 38141GXS8 GOLDMAN SACHS GROUP INC CORPORATE NOTES 0.85% 2/12/2026 598.502/12/2022 2/12/2022 70,000.00 05565EBU8 BMW US CAPITAL LLC CORPORATE NOTES 0.75% 8/12/2024 262.502/13/2022 2/13/2022 70,000.00 89236TGT6 TOYOTA MOTOR CREDIT CORP CORP NOTES 1.80% 2/13/2025 630.002/15/2022 2/15/2022 39,857.47 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 89.022/15/2022 2/15/2022 95,000.00 14044CAC6 COPAR 2021-1 A3 0.77% 9/15/2026 60.962/15/2022 2/15/2022 42,186.91 41284UAD6 HDMOT 2020-A A3 1.87% 10/15/2024 65.742/15/2022 2/15/2022 425,000.00 912828B66 US TREASURY NOTES 2.75% 2/15/2024 5,843.752/15/2022 2/15/2022 4,291.63 14313FAD1 CARMAX AUTO OWNER TRUST 3.13% 6/15/2023 11.192/15/2022 2/15/2022 70,000.00 65480EAD3 NALT 2020-B A3 0.43% 10/16/2023 25.082/15/2022 2/15/2022 75,000.00 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 46.252/15/2022 2/15/2022 155,000.00 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 71.042/15/2022 2/15/2022 95,000.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 45.922/15/2022 2/15/2022 85,000.00 14316HAC6 CARMX 2020-4 A3 0.50% 8/15/2025 35.422/15/2022 2/15/2022 120,000.00 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 81.002/15/2022 2/15/2022 44,434.31 34533FAD3 FORDO 2019-A A3 2.78% 9/15/2023 102.942/15/2022 2/15/2022 41,000.00 110122DC9 BRISTOL-MYERS SQUIBB (CALLABLE) CORP NOT 3.87% 8/15/2025 794.38 29 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/15/2022 2/15/2022 100,000.00 89238JAC9 TAOT 2021-D A3 0.71% 4/15/2026 59.172/15/2022 2/15/2022 110,000.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 47.672/15/2022 2/15/2022 70,000.00 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 22.172/15/2022 2/15/2022 125,000.00 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 58.332/15/2022 2/15/2022 35,000.00 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 9.922/16/2022 2/16/2022 75,000.00 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 70.882/16/2022 2/16/2022 4,649.77 36255JAD6 GMCAR 2018-3 A3 3.02% 5/16/2023 11.702/16/2022 2/16/2022 80,000.00 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 45.332/16/2022 2/16/2022 60,000.00 46647PBY1 JPMORGAN CHASE & CO CORP NOTES (CALLABLE 0.56% 2/16/2025 168.902/18/2022 2/18/2022 125,000.00 43813KAC6 HAROT 2020-3 A3 0.37% 10/18/2024 38.652/20/2022 2/20/2022 100,000.00 92290BAA9 VZOT 2020-B A 0.47% 2/20/2025 39.172/20/2022 2/20/2022 120,020.18 92348AAA3 VZOT 2019-C A1A 1.94% 4/22/2024 194.032/20/2022 2/20/2022 90,000.00 89238EAC0 TLOT 2021-A A3 0.39% 4/22/2024 29.252/20/2022 2/20/2022 125,000.00 92868KAC7 VALET 2021-1 A3 1.02% 6/22/2026 106.252/20/2022 2/20/2022 8,326.21 92869BAD4 VALET 2018-2 A3 3.25% 4/20/2023 22.552/20/2022 2/20/2022 100,000.00 92348TAA2 VZOT 2020-A A1A 1.85% 7/22/2024 154.172/20/2022 2/20/2022 125,000.00 380144AC9 GMALT 2021-2 A3 0.34% 5/20/2024 35.42 30 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/20/2022 2/20/2022 60,000.00 362569AC9 GMALT 2020-3 A3 0.45% 8/21/2023 22.502/24/2022 2/24/2022 600,000.00 3137EAEV7 FREDDIE MAC NOTES 0.25% 8/24/2023 750.002/25/2022 2/25/2022 795,000.00 3135G05X7 FANNIE MAE NOTES 0.37% 8/25/2025 1,490.632/25/2022 2/25/2022 60,000.00 05591RAC8 BMWLT 2021-1 A3 0.29% 1/25/2024 14.502/28/2022 2/28/2022 775,000.00 912828ZC7 US TREASURY NOTES 1.12% 2/28/2025 4,359.382/28/2022 2/28/2022 700,000.00 91282CAJ0 US TREASURY NOTES 0.25% 8/31/2025 875.002/28/2022 2/28/2022 325,000.00 254687FK7 WALT DISNEY COMPANY/THE 1.75% 8/30/2024 2,843.752/28/2022 2/28/2022 1,025,000.00 91282CBQ3 US TREASURY NOTES 0.50% 2/28/2026 2,562.503/1/2022 3/25/2022 59,890.73 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 113.793/1/2022 3/25/2022 3,559.01 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 9.503/1/2022 3/25/2022 27,635.26 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 70.653/1/2022 3/1/2022 MONEY0002 MONEY MARKET FUND 1.453/1/2022 3/25/2022 16,068.90 3137B5JL8 FHLMC MULTIFAMILY STRUCTURED P 2.66% 2/1/2023 35.743/1/2022 3/25/2022 300,000.00 3137B1BS0 FHLMC MULTIFAMILY STRUCTURED P 2.51% 11/1/2022 642.043/1/2022 3/25/2022 275,000.00 3137AWQH1 FHLMC MULTIFAMILY STRUCTURED P 2.30% 8/1/2022 528.693/1/2022 3/25/2022 50,830.04 3136ABPW7 FNA 2013-M1 A2 2.36% 8/1/2022 100.163/1/2022 3/25/2022 306,372.36 3137AVXN2 FHLMC MULTIFAMILY STRUCTURED P 2.35% 7/1/2022 601.26 31 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/3/2022 3/3/2022 43813KAC6 HAROT 2020-3 A3 0.37% 10/18/2024 -0.113/7/2022 3/7/2022 250,000.00 58933YAU9 MERCK & CO INC (CALLABLE) CORP NOTES 2.90% 3/7/2024 3,625.003/7/2022 3/7/2022 130,000.00 24422EUX5 JOHN DEERE CAPITAL CORP CORP NOTES 2.60% 3/7/2024 1,690.003/8/2022 3/8/2022 1,020,000.00 3137EAEW5 FREDDIE MAC NOTES 0.25% 9/8/2023 1,275.003/14/2022 3/14/2022 245,000.00 641062AU8 NESTLE HOLDINGS INC CORP NOTES (CALLABLE 0.60% 9/14/2024 742.353/14/2022 3/14/2022 100,000.00 14913R2F3 CATERPILLAR FINL SERVICE CORPORATE NOTES 0.45% 9/14/2023 225.003/15/2022 3/15/2022 38,454.56 41284UAD6 HDMOT 2020-A A3 1.87% 10/15/2024 59.933/15/2022 3/15/2022 75,000.00 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 46.253/15/2022 3/15/2022 340,000.00 650036DT0 NY ST URBAN DEV CORP TXBL REV BONDS 0.87% 3/15/2025 1,479.003/15/2022 3/15/2022 110,000.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 47.673/15/2022 3/15/2022 300,000.00 717081EN9 PFIZER INC CORP NOTES (CALLABLE) 3.20% 9/15/2023 4,800.003/15/2022 3/15/2022 155,000.00 14317DAC4 CARMX 2021-3 A3 0.55% 6/15/2026 71.043/15/2022 3/15/2022 95,000.00 14044CAC6 COPAR 2021-1 A3 0.77% 9/15/2026 60.963/15/2022 3/15/2022 120,000.00 98163KAC6 WOART 2021-D A3 0.81% 10/15/2026 81.003/15/2022 3/15/2022 70,000.00 65480EAD3 NALT 2020-B A3 0.43% 10/16/2023 25.083/15/2022 3/15/2022 100,000.00 89238JAC9 TAOT 2021-D A3 0.71% 4/15/2026 59.173/15/2022 3/15/2022 250,000.00 88579YAX9 3M COMPANY CORP NOTES 2.25% 3/15/2023 2,812.50 32 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/15/2022 3/15/2022 85,000.00 14316HAC6 CARMX 2020-4 A3 0.50% 8/15/2025 35.423/15/2022 3/15/2022 35,000.00 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 9.923/15/2022 3/15/2022 95,000.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 45.923/15/2022 3/15/2022 35,572.29 34533FAD3 FORDO 2019-A A3 2.78% 9/15/2023 82.413/15/2022 3/15/2022 1,635.69 14313FAD1 CARMAX AUTO OWNER TRUST 3.13% 6/15/2023 4.273/15/2022 3/15/2022 35,492.72 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 79.273/15/2022 3/15/2022 70,000.00 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 22.173/15/2022 3/15/2022 125,000.00 50117XAE2 KCOT 2021-2A A3 0.56% 11/17/2025 58.333/16/2022 3/16/2022 1,047.46 36255JAD6 GMCAR 2018-3 A3 3.02% 5/16/2023 2.643/16/2022 3/16/2022 80,000.00 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 45.333/16/2022 3/16/2022 75,000.00 380146AC4 GMCAR 2022-1 A3 1.26% 11/16/2026 78.753/17/2022 3/17/2022 255,000.00 22552G3C2 CREDIT SUISSE NEW YORK CERT DEPOS 0.59% 3/17/2023 1,500.323/18/2022 3/18/2022 105,000.00 808513BN4 CHARLES SCHWAB CORP NOTES (CALLABLE) 0.75% 3/18/2024 393.753/18/2022 3/18/2022 125,000.00 43813KAC6 HAROT 2020-3 A3 0.37% 10/18/2024 38.543/20/2022 3/20/2022 54,389.01 362569AC9 GMALT 2020-3 A3 0.45% 8/21/2023 20.403/20/2022 3/20/2022 106,557.24 92348AAA3 VZOT 2019-C A1A 1.94% 4/22/2024 172.273/20/2022 3/20/2022 1,762.20 92869BAD4 VALET 2018-2 A3 3.25% 4/20/2023 4.77 33 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/20/2022 3/20/2022 125,000.00 92868KAC7 VALET 2021-1 A3 1.02% 6/22/2026 106.253/20/2022 3/20/2022 100,000.00 92290BAA9 VZOT 2020-B A 0.47% 2/20/2025 39.173/20/2022 3/20/2022 89,588.97 92348TAA2 VZOT 2020-A A1A 1.85% 7/22/2024 138.123/20/2022 3/20/2022 90,000.00 89238EAC0 TLOT 2021-A A3 0.39% 4/22/2024 29.253/20/2022 3/20/2022 125,000.00 380144AC9 GMALT 2021-2 A3 0.34% 5/20/2024 35.423/23/2022 3/23/2022 330,000.00 4581X0DZ8 INTER-AMERICAN DEVEL BK NOTES 0.50% 9/23/2024 825.003/23/2022 3/23/2022 295,000.00 3137EAEX3 FREDDIE MAC NOTES 0.37% 9/23/2025 553.133/25/2022 3/25/2022 60,000.00 05591RAC8 BMWLT 2021-1 A3 0.29% 1/25/2024 14.503/30/2022 3/30/2022 200,000.00 857477BM4 STATE STREET CORP NOTES (CALLABLE) 2.90% 3/30/2026 2,901.003/31/2022 3/31/2022 650,000.00 912828W71 US TREASURY NOTES 2.12% 3/31/2024 6,906.253/31/2022 3/31/2022 225,000.00 91282CCZ2 US TREASURY N/B NOTES 0.87% 9/30/2026 984.383/31/2022 3/31/2022 500,000.00 912828YH7 US TREASURY NOTES 1.50% 9/30/2024 3,750.00 Total INTEREST 24,321,621.82 83,263.28 0.00
PAYDOWNS1/1/2022 1/25/2022 2,499.48 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 2,499.481/1/2022 1/25/2022 9.08 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 9.081/1/2022 1/25/2022 6,450.57 3136ABPW7 FNA 2013-M1 A2 2.36% 8/1/2022 6,450.57 34 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS1/1/2022 1/25/2022 1,940.32 3137B5JL8 FHLMC MULTIFAMILY STRUCTURED P 2.66% 2/1/2023 1,940.321/1/2022 1/25/2022 139.15 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 139.151/1/2022 1/25/2022 866.22 3137AVXN2 FHLMC MULTIFAMILY STRUCTURED P 2.35% 7/1/2022 866.221/15/2022 1/15/2022 2,825.12 14313FAD1 CARMAX AUTO OWNER TRUST 3.13% 6/15/2023 2,825.121/15/2022 1/15/2022 4,752.80 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 4,752.801/15/2022 1/15/2022 3,928.46 41284UAD6 HDMOT 2020-A A3 1.87% 10/15/2024 3,928.461/15/2022 1/15/2022 9,617.41 34533FAD3 FORDO 2019-A A3 2.78% 9/15/2023 9,617.411/16/2022 1/16/2022 3,827.11 36255JAD6 GMCAR 2018-3 A3 3.02% 5/16/2023 3,827.111/20/2022 1/20/2022 7,043.75 92869BAD4 VALET 2018-2 A3 3.25% 4/20/2023 7,043.751/20/2022 1/20/2022 17,072.95 92348AAA3 VZOT 2019-C A1A 1.94% 4/22/2024 17,072.952/1/2022 2/25/2022 1,946.82 3137B5JL8 FHLMC MULTIFAMILY STRUCTURED P 2.66% 2/1/2023 1,946.822/1/2022 2/25/2022 2,617.93 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 2,617.932/1/2022 2/25/2022 5,982.18 3137AVXN2 FHLMC MULTIFAMILY STRUCTURED P 2.35% 7/1/2022 5,982.182/1/2022 2/25/2022 9.13 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 9.132/1/2022 2/25/2022 9,123.43 3136ABPW7 FNA 2013-M1 A2 2.36% 8/1/2022 9,123.432/1/2022 2/25/2022 94.21 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 94.212/15/2022 2/15/2022 4,364.75 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 4,364.75 35 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS2/15/2022 2/15/2022 3,732.35 41284UAD6 HDMOT 2020-A A3 1.87% 10/15/2024 3,732.352/15/2022 2/15/2022 8,862.02 34533FAD3 FORDO 2019-A A3 2.78% 9/15/2023 8,862.022/15/2022 2/15/2022 2,655.94 14313FAD1 CARMAX AUTO OWNER TRUST 3.13% 6/15/2023 2,655.942/16/2022 2/16/2022 3,602.31 36255JAD6 GMCAR 2018-3 A3 3.02% 5/16/2023 3,602.312/20/2022 2/20/2022 13,462.94 92348AAA3 VZOT 2019-C A1A 1.94% 4/22/2024 13,462.942/20/2022 2/20/2022 5,610.99 362569AC9 GMALT 2020-3 A3 0.45% 8/21/2023 5,610.992/20/2022 2/20/2022 10,411.03 92348TAA2 VZOT 2020-A A1A 1.85% 7/22/2024 10,411.032/20/2022 2/20/2022 6,564.01 92869BAD4 VALET 2018-2 A3 3.25% 4/20/2023 6,564.013/1/2022 3/25/2022 5,113.16 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 5,113.163/1/2022 3/25/2022 5,693.58 3136ABPW7 FNA 2013-M1 A2 2.36% 8/1/2022 5,693.583/1/2022 3/25/2022 2,265.43 3137B5JL8 FHLMC MULTIFAMILY STRUCTURED P 2.66% 2/1/2023 2,265.433/1/2022 3/25/2022 36,061.53 3137AVXN2 FHLMC MULTIFAMILY STRUCTURED P 2.35% 7/1/2022 36,061.533/1/2022 3/25/2022 152.11 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 152.113/1/2022 3/25/2022 355.01 3137B1BS0 FHLMC MULTIFAMILY STRUCTURED P 2.51% 11/1/2022 355.013/1/2022 3/25/2022 11.02 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 11.023/15/2022 3/15/2022 1,635.68 14313FAD1 CARMAX AUTO OWNER TRUST 3.13% 6/15/2023 1,635.683/15/2022 3/15/2022 8,462.44 34533FAD3 FORDO 2019-A A3 2.78% 9/15/2023 8,462.44 36 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS3/15/2022 3/15/2022 834.65 65480EAD3 NALT 2020-B A3 0.43% 10/16/2023 834.653/15/2022 3/15/2022 4,351.37 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 4,351.373/15/2022 3/15/2022 3,676.46 41284UAD6 HDMOT 2020-A A3 1.87% 10/15/2024 3,676.463/16/2022 3/16/2022 1,047.46 36255JAD6 GMCAR 2018-3 A3 3.02% 5/16/2023 1,047.463/20/2022 3/20/2022 4,669.72 362569AC9 GMALT 2020-3 A3 0.45% 8/21/2023 4,669.723/20/2022 3/20/2022 1,762.20 92869BAD4 VALET 2018-2 A3 3.25% 4/20/2023 1,762.203/20/2022 3/20/2022 12,013.13 92348AAA3 VZOT 2019-C A1A 1.94% 4/22/2024 12,013.133/20/2022 3/20/2022 9,434.12 92348TAA2 VZOT 2020-A A1A 1.85% 7/22/2024 9,434.12 Total PAYDOWNS 237,551.53 237,551.53 0.00
SELL1/5/2022 1/6/2022 325,000.00 912828U57 US TREASURY NOTES 2.12% 11/30/2023 334,017.44 11,844.271/20/2022 1/24/2022 55,000.00 912828U57 US TREASURY NOTES 2.12% 11/30/2023 56,293.79 1,698.871/26/2022 1/28/2022 175,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 180,748.87 5,158.291/28/2022 2/1/2022 75,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 77,224.81 1,950.532/4/2022 2/7/2022 110,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 113,027.33 2,578.452/7/2022 2/9/2022 35,000.00 20772KJU4 CT ST TXBL GO BONDS 2.50% 7/1/2022 35,348.91 145.092/10/2022 2/14/2022 100,000.00 20772KKK4 CT ST T/E GO BONDS 2.00% 6/1/2025 102,178.56 -1,629.71 37 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL2/17/2022 2/22/2022 200,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 204,854.59 3,826.643/4/2022 3/4/2022 41,000.00 110122DC9 BRISTOL-MYERS SQUIBB (CALLABLE) CORP NOT 3.87% 8/15/2025 43,686.94 -1,537.843/4/2022 3/10/2022 370,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 379,352.45 7,032.813/10/2022 3/10/2022 70,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 71,547.90 1,109.053/15/2022 3/16/2022 175,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 178,590.41 2,419.163/16/2022 3/17/2022 50,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 50,974.77 636.603/22/2022 3/23/2022 150,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 152,186.84 1,108.783/29/2022 3/30/2022 300,000.00 3137EAEV7 FREDDIE MAC NOTES 0.25% 8/24/2023 292,272.00 -7,660.31 Total SELL 2,231,000.00 2,272,305.61 28,680.68
38 © PFM Asset Management LLC pfm.com |
Portfolio Holdings
© PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 12/31/2018 2.625% 12/31/2023
9128285U0 225,000.00 AA+ Aaa 1/29/2019 1/31/2019 225,773.44 2.55 1,484.72 225,275.34 226,371.11 US TREASURY NOTESDTD 01/03/2017 2.250% 12/31/2023
912828V23 980,000.00 AA+ Aaa 1/30/2019 1/31/2019 965,912.50 2.56 5,542.96 974,985.01 979,693.75 US TREASURY NOTESDTD 01/15/2021 0.125% 01/15/2024
91282CBE0 1,200,000.00 AA+ Aaa 2/2/2021 2/3/2021 1,198,125.00 0.18 314.92 1,198,860.36 1,154,812.56 US TREASURY NOTESDTD 01/31/2017 2.250% 01/31/2024
912828V80 125,000.00 AA+ Aaa 2/7/2019 2/11/2019 123,720.70 2.47 466.16 124,527.75 124,843.75 US TREASURY NOTESDTD 02/18/2014 2.750% 02/15/2024
912828B66 425,000.00 AA+ Aaa 3/1/2019 3/6/2019 428,303.71 2.58 1,452.87 426,252.37 428,253.89 US TREASURY NOTESDTD 03/31/2017 2.125% 03/31/2024
912828W71 650,000.00 AA+ Aaa 4/1/2019 4/3/2019 644,337.89 2.31 37.74 647,733.91 647,257.78 US TREASURY NOTESDTD 05/01/2017 2.000% 04/30/2024
912828X70 300,000.00 AA+ Aaa 5/1/2019 5/3/2019 296,167.97 2.27 2,519.34 298,403.32 297,656.25 US TREASURY NOTESDTD 05/31/2017 2.000% 05/31/2024
912828XT2 1,225,000.00 AA+ Aaa 6/3/2019 6/5/2019 1,231,316.41 1.89 8,211.54 1,227,742.20 1,214,664.06 US TREASURY NOTESDTD 06/30/2019 1.750% 06/30/2024
9128286Z8 200,000.00 AA+ Aaa 7/1/2019 7/3/2019 199,546.88 1.80 879.84 199,796.05 197,093.76 US TREASURY NOTESDTD 06/30/2019 1.750% 06/30/2024
9128286Z8 275,000.00 AA+ Aaa 12/11/2019 12/12/201 275,708.98 1.69 1,209.77 275,350.22 271,003.92 US TREASURY N/B NOTESDTD 07/15/2021 0.375% 07/15/2024
91282CCL3 200,000.00 AA+ Aaa 8/5/2021 8/9/2021 199,976.56 0.38 157.46 199,981.70 190,875.00 US TREASURY NOTESDTD 09/30/2019 1.500% 09/30/2024
912828YH7 500,000.00 AA+ Aaa 10/31/201 11/4/2019 499,472.66 1.52 20.49 499,731.33 488,203.10 US TREASURY NOTESDTD 10/31/2019 1.500% 10/31/2024
912828YM6 575,000.00 AA+ Aaa 12/2/2019 12/4/2019 569,856.45 1.69 3,621.55 572,291.96 560,894.56 US TREASURY NOTESDTD 10/31/2019 1.500% 10/31/2024
912828YM6 350,000.00 AA+ Aaa 2/3/2020 2/5/2020 352,460.94 1.35 2,204.42 351,342.85 341,414.08 US TREASURY NOTESDTD 01/31/2020 1.375% 01/31/2025
912828Z52 100,000.00 AA+ Aaa 2/19/2020 2/20/2020 99,859.38 1.40 227.90 99,919.38 96,921.88 39 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 02/29/2020 1.125% 02/28/2025
912828ZC7 775,000.00 AA+ Aaa 3/2/2020 3/4/2020 785,837.89 0.84 758.15 781,329.04 744,968.75 US TREASURY NOTESDTD 04/30/2020 0.375% 04/30/2025
912828ZL7 300,000.00 AA+ Aaa 10/4/2021 10/6/2021 296,988.28 0.66 472.38 297,397.71 280,921.86 US TREASURY NOTESDTD 04/30/2020 0.375% 04/30/2025
912828ZL7 400,000.00 AA+ Aaa 6/3/2020 6/5/2020 399,875.00 0.38 629.83 399,921.44 374,562.48 US TREASURY NOTESDTD 05/31/2020 0.250% 05/31/2025
912828ZT0 325,000.00 AA+ Aaa 6/30/2020 6/30/2020 324,873.05 0.26 272.32 324,918.29 302,554.69 US TREASURY NOTESDTD 05/31/2020 0.250% 05/31/2025
912828ZT0 325,000.00 AA+ Aaa 6/10/2021 6/10/2021 321,039.06 0.56 272.32 321,844.35 302,554.69 US TREASURY NOTESDTD 05/31/2020 0.250% 05/31/2025
912828ZT0 425,000.00 AA+ Aaa 5/4/2021 5/6/2021 418,824.22 0.61 356.11 420,195.69 395,648.43 US TREASURY NOTESDTD 06/30/2020 0.250% 06/30/2025
912828ZW3 725,000.00 AA+ Aaa 6/28/2021 6/29/2021 711,774.41 0.71 455.63 714,271.17 673,570.31 US TREASURY NOTESDTD 07/31/2020 0.250% 07/31/2025
91282CAB7 400,000.00 AA+ Aaa 7/1/2021 7/7/2021 392,281.25 0.73 165.75 393,674.26 370,812.48 US TREASURY NOTESDTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 700,000.00 AA+ Aaa 8/4/2021 8/9/2021 691,824.22 0.54 152.17 693,119.78 647,718.75 US TREASURY NOTESDTD 10/31/2020 0.250% 10/31/2025
91282CAT8 100,000.00 AA+ Aaa 8/26/2021 8/27/2021 98,066.41 0.72 104.97 98,341.37 92,187.50 US TREASURY NOTESDTD 10/31/2020 0.250% 10/31/2025
91282CAT8 475,000.00 AA+ Aaa 8/11/2021 8/12/2021 466,112.30 0.70 498.62 467,450.36 437,890.63 US TREASURY NOTESDTD 11/30/2020 0.375% 11/30/2025
91282CAZ4 300,000.00 AA+ Aaa 10/4/2021 10/6/2021 294,796.88 0.80 377.06 295,404.37 277,312.50 US TREASURY NOTESDTD 11/30/2020 0.375% 11/30/2025
91282CAZ4 300,000.00 AA+ Aaa 12/1/2020 12/3/2020 299,343.75 0.42 377.06 299,517.98 277,312.50 US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/2025
91282CBC4 300,000.00 AA+ Aaa 1/7/2021 1/11/2021 298,804.69 0.46 282.80 299,097.75 276,984.36 US TREASURY NOTESDTD 01/31/2021 0.375% 01/31/2026
91282CBH3 200,000.00 AA+ Aaa 2/25/2021 2/26/2021 196,812.50 0.70 124.31 197,519.06 184,281.24 US TREASURY NOTESDTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 300,000.00 AA+ Aaa 3/1/2021 3/3/2021 296,800.78 0.72 130.43 297,492.22 277,359.36 US TREASURY NOTESDTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 725,000.00 AA+ Aaa 9/2/2021 9/7/2021 718,542.97 0.70 315.22 719,356.52 670,285.12 40 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/B NOTESDTD 05/31/2021 0.750% 05/31/2026
91282CCF6 700,000.00 AA+ Aaa 6/3/2021 6/8/2021 696,964.84 0.84 1,759.62 697,460.68 651,000.00 US TREASURY N/B NOTESDTD 09/30/2021 0.875% 09/30/2026
91282CCZ2 225,000.00 AA+ Aaa 10/7/2021 10/12/202 223,444.34 1.02 5.38 223,590.99 209,460.94 US TREASURY N/B NOTESDTD 10/31/2021 1.125% 10/31/2026
91282CDG3 275,000.00 AA+ Aaa 11/3/2021 11/4/2021 274,108.40 1.19 1,299.03 274,180.82 258,671.88 US TREASURY N/B NOTESDTD 10/31/2021 1.125% 10/31/2026
91282CDG3 225,000.00 AA+ Aaa 11/15/2021 11/17/2021 223,611.33 1.25 1,062.85 223,714.96 211,640.62 US TREASURY N/B NOTESDTD 11/30/2021 1.250% 11/30/2026
91282CDK4 300,000.00 AA+ Aaa 12/2/2021 12/7/2021 300,386.72 1.22 1,256.87 300,362.27 283,781.25 US TREASURY N/B NOTESDTD 12/31/2021 1.250% 12/31/2026
91282CDQ1 325,000.00 AA+ Aaa 1/3/2022 1/6/2022 323,273.44 1.36 1,021.24 323,354.08 307,074.24 Security Type Sub-Total 16,455,000.00 16,364,926.20 1.18 40,501.80 16,385,708.91 15,728,514.03 Supranational
INTER-AMERICAN DEVEL BK NOTESDTD 04/24/2020 0.500% 05/24/2023 4581X0DM7 175,000.00 AAA Aaa 4/17/2020 4/24/2020 174,940.50 0.51 308.68 174,977.89 172,014.85 INTL BK RECON & DEVELOP NOTESDTD 11/24/2020 0.250% 11/24/2023 459058JM6 200,000.00 AAA Aaa 11/17/2020 11/24/2020 199,570.00 0.32 176.39 199,763.60 193,466.00 INTER-AMERICAN DEVEL BK NOTESDTD 09/23/2021 0.500% 09/23/2024 4581X0DZ8 330,000.00 AAA Aaa 9/15/2021 9/23/2021 329,755.80 0.52 36.67 329,798.13 314,208.18 Security Type Sub-Total 705,000.00 704,266.30 0.46 521.74 704,539.62 679,689.03 Negotiable CD
DNB BANK ASA/NY LT CDDTD 12/06/2019 2.040% 12/02/2022
23341VZT1 325,000.00 A-1+ P-1 12/4/2019 12/6/2019 325,000.00 2.03 2,210.00 325,000.00 325,892.45 CREDIT SUISSE NEW YORK CERTDEPOSDTD 03/23/2021 0.590% 03/17/2023 22552G3C2 255,000.00 A-1 P-1 3/19/2021 3/23/2021 255,000.00 0.59 62.69 255,000.00 251,282.61 Security Type Sub-Total 580,000.00 580,000.00 1.40 2,272.69 580,000.00 577,175.06 41 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Municipal
CA ST EARTHQUAKE AUTH TXBL REVBONDSDTD 11/24/2020 1.327% 07/01/2022 13017HAJ5 70,000.00 NR NR 11/13/2020 11/24/2020 70,000.00 1.33 232.23 70,000.00 69,993.70 SAN JUAN USD, CA TXBL GO BONDSDTD 10/29/2020 0.499% 08/01/2023 798306WM4 125,000.00 NR Aa2 10/16/202 10/29/202 125,000.00 0.50 103.96 125,000.00 122,542.50 NJ TURNPIKE AUTHORITY TXBL REVBONDSDTD 02/04/2021 0.897% 01/01/2025 646140DN0 70,000.00 AA- A1 1/22/2021 2/4/2021 70,000.00 0.90 156.98 70,000.00 66,333.40 NY ST URBAN DEV CORP TXBL REVBONDSDTD 12/23/2020 0.870% 03/15/2025 650036DT0 340,000.00 AA+ NR 12/16/202 12/23/202 340,000.00 0.87 131.47 340,000.00 318,542.60 FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025 341271AD6 255,000.00 AA Aa3 9/3/2020 9/16/2020 255,000.00 1.26 801.98 255,000.00 242,107.20 Security Type Sub-Total 860,000.00 860,000.00 0.97 1,426.62 860,000.00 819,519.40 Federal Agency
FREDDIE MAC NOTESDTD 08/21/2020 0.250% 08/24/2023
3137EAEV7 300,000.00 AA+ Aaa 8/19/2020 8/21/2020 299,694.00 0.28 77.08 299,857.87 292,346.70 FREDDIE MAC NOTESDTD 09/04/2020 0.250% 09/08/2023
3137EAEW5 445,000.00 AA+ Aaa 9/2/2020 9/4/2020 445,081.26 0.24 71.08 445,038.82 433,152.32 FREDDIE MAC NOTESDTD 09/04/2020 0.250% 09/08/2023
3137EAEW5 575,000.00 AA+ Aaa 9/2/2020 9/4/2020 574,810.25 0.26 91.84 574,909.36 559,691.20 FREDDIE MAC NOTESDTD 11/05/2020 0.250% 11/06/2023
3137EAEZ8 340,000.00 AA+ Aaa 11/3/2020 11/5/2020 339,694.00 0.28 342.36 339,836.95 329,481.08 FREDDIE MAC NOTESDTD 12/04/2020 0.250% 12/04/2023
3137EAFA2 275,000.00 AA+ Aaa 12/2/2020 12/4/2020 274,727.75 0.28 223.44 274,847.84 265,997.33 FEDERAL HOME LOAN BANKS NOTESDTD 12/09/2013 3.375% 12/08/2023 3130A0F70 305,000.00 AA+ Aaa 1/30/2019 1/31/2019 313,989.54 2.72 3,231.09 308,125.03 310,626.95 FANNIE MAE NOTESDTD 04/24/2020 0.625% 04/22/2025
3135G03U5 290,000.00 AA+ Aaa 4/22/2020 4/24/2020 289,402.60 0.67 800.52 289,634.16 273,751.59 FREDDIE MAC NOTESDTD 07/23/2020 0.375% 07/21/2025
3137EAEU9 395,000.00 AA+ Aaa 7/21/2020 7/23/2020 393,032.90 0.48 288.02 393,698.31 368,010.05 42 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Federal Agency
FANNIE MAE NOTESDTD 08/27/2020 0.375% 08/25/2025
3135G05X7 795,000.00 AA+ Aaa 8/25/2020 8/27/2020 791,279.40 0.47 298.13 792,466.57 739,193.39 FREDDIE MAC NOTESDTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 295,000.00 AA+ Aaa 9/23/2020 9/25/2020 294,112.05 0.44 24.58 294,381.26 273,839.06 Security Type Sub-Total 4,015,000.00 4,015,823.75 0.56 5,448.14 4,012,796.17 3,846,089.67 Corporate
JPMORGAN CHASE & CO BONDS(CALLED, OMD 4DTD 03/22/2019 3.207% 04/01/2022 46647PBB1 100,000.00 A- A2 3/15/2019 3/22/2019 100,000.00 3.21 1,603.50 100,000.00 99,992.60 CITIGROUP INC CORP NOTESDTD 10/27/2017 2.700% 10/27/2022 172967LQ2 150,000.00 BBB+ A3 12/31/201 12/31/201 144,601.50 3.72 1,732.50 149,191.77 150,804.60

ADOBE INC CORP NOTE
DTD 02/03/2020 1.700% 02/01/2023
00724PAA7 35,000.00 A+ A2 1/22/2020 2/3/2020 34,952.05 1.75 99.17 34,986.59 34,937.11 3M COMPANY CORP NOTESDTD 10/02/2017 2.250% 03/15/2023
88579YAX9 250,000.00 A+ A1 1/14/2019 1/16/2019 241,772.50 3.10 250.00 248,115.10 250,702.25 PEPSICO INC CORPORATE NOTESDTD 05/01/2020 0.750% 05/01/2023 713448EY0 75,000.00 A+ A1 4/29/2020 5/1/2020 74,851.50 0.82 234.38 74,946.43 73,942.05

APPLE INC CORPORATE NOTES
DTD 05/11/2020 0.750% 05/11/2023
037833DV9 140,000.00 AA+ Aaa 5/4/2020 5/11/2020 139,619.20 0.84 408.33 139,859.16 138,094.74 CHEVRON CORP CORPORATE NOTESDTD 05/11/2020 1.141% 05/11/2023 166764BV1 75,000.00 AA- Aa2 5/7/2020 5/11/2020 75,000.00 1.14 332.79 75,000.00 74,150.40 GENERAL DYNAMICS CORP NOTESDTD 05/11/2018 3.375% 05/15/2023 369550BD9 300,000.00 A- A3 1/11/2019 1/15/2019 302,661.00 3.15 3,825.00 300,650.24 303,375.00 AMAZON.COM INC CORPORATE
NOTESDTD 06/03/2020 0.400% 06/03/2023
023135BP0 150,000.00 AA A1 6/1/2020 6/3/2020 149,790.00 0.45 196.67 149,917.92 147,507.30 CHEVRON USA INC CORPORATENOTESDTD 08/12/2020 0.426% 08/11/2023 166756AJ5 35,000.00 AA- Aa2 8/10/2020 8/12/2020 35,000.00 0.43 20.71 35,000.00 34,152.86 CATERPILLAR FINL SERVICECORPORATE NOTESDTD 09/14/2020 0.450% 09/14/2023 14913R2F3 100,000.00 A A2 9/9/2020 9/14/2020 99,932.00 0.47 21.25 99,967.02 97,474.80 43 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
PFIZER INC CORP NOTES (CALLABLE)DTD 09/07/2018 3.200% 09/15/2023 717081EN9 300,000.00 A+ A2 1/11/2019 1/15/2019 301,983.00 3.05 426.67 300,593.83 303,556.80 BRISTOL-MYERS SQUIBB CO(CALLABLE) CORPDTD 11/13/2020 0.537% 11/13/2023 110122DT2 160,000.00 A+ A2 11/9/2020 11/13/2020 160,000.00 0.54 329.36 160,000.00 157,945.60 GOLDMAN SACHS GROUP INCCORPORATE NOTESDTD 11/19/2020 0.627% 11/17/2023 38141GXL3 110,000.00 BBB+ A2 11/16/2020 11/19/2020 110,000.00 0.63 256.72 110,000.00 108,554.38 TOYOTA MOTOR CREDIT CORP CORPNOTESDTD 01/08/2019 3.350% 01/08/2024 89236TFS9 150,000.00 A+ A1 1/11/2019 1/15/2019 149,883.00 3.37 1,158.54 149,958.38 151,843.50 NATIONAL RURAL UTIL COOPCORPORATE NOTESDTD 02/08/2021 0.350% 02/08/2024 63743HEU2 65,000.00 A- A2 2/1/2021 2/8/2021 64,955.15 0.37 33.49 62,261.29 64,972.23 MERCK & CO INC (CALLABLE) CORPNOTESDTD 03/07/2019 2.900% 03/07/2024 58933YAU9 250,000.00 A+ A1 3/13/2019 3/15/2019 251,002.50 2.81 483.33 250,379.16 252,265.75 JOHN DEERE CAPITAL CORP CORPNOTESDTD 06/07/2019 2.600% 03/07/2024 24422EUX5 130,000.00 A A2 6/4/2019 6/7/2019 129,777.70 2.64 225.33 129,909.54 130,256.75 CHARLES SCHWAB CORP NOTES(CALLABLE)DTD 03/18/2021 0.750% 03/18/2024 808513BN4 105,000.00 A A2 3/16/2021 3/18/2021 104,947.50 0.77 28.44 104,965.65 101,518.41 COMCAST CORP (CALLABLE)CORPORATE NOTESDTD 10/05/2018 3.700% 04/15/2024 20030NCR0 170,000.00 A- A3 5/7/2020 5/11/2020 186,250.30 1.20 2,900.39 178,264.04 173,728.10 AMAZON.COM INC CORPORATE
NOTESDTD 05/12/2021 0.450% 05/12/2024
023135BW5 245,000.00 AA A1 5/10/2021 5/12/2021 244,642.30 0.50 425.69 244,748.04 235,283.30

ASTRAZENECA FINANCE LLC
(CALLABLE) CORPDTD 05/28/2021 0.700% 05/28/2024
04636NAC7 155,000.00 A- A3 5/25/2021 5/28/2021 154,986.05 0.70 370.71 154,989.97 148,652.91 JPMORGAN CHASE & COCORPORATE NOTESDTD 05/27/2020 1.514% 06/01/2024 46647PBQ8 100,000.00 A- A2 5/19/2020 5/27/2020 100,000.00 1.51 504.67 100,000.00 98,620.90 44 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate

AMERICAN HONDA FINANCE
CORPORATE NOTESDTD 09/09/2021 0.750% 08/09/2024
02665WDY4 110,000.00 A- A3 9/7/2021 9/9/2021 109,927.40 0.77 119.17 109,941.31 104,805.03 BMW US CAPITAL LLC CORPORATENOTESDTD 08/12/2021 0.750% 08/12/2024 05565EBU8 70,000.00 A A2 8/9/2021 8/12/2021 69,993.70 0.75 71.46 69,995.03 66,768.17 WALT DISNEY COMPANY/THEDTD 09/06/2019 1.750% 08/30/2024 254687FK7 325,000.00 BBB+ A2 9/3/2019 9/6/2019 323,674.00 1.84 489.76 324,357.40 319,021.63 NESTLE HOLDINGS INC CORP NOTES(CALLABLEDTD 09/14/2021 0.606% 09/14/2024 641062AU8 245,000.00 AA- Aa3 9/7/2021 9/14/2021 245,000.00 0.61 70.11 245,000.00 232,356.53 BANK OF NY MELLON CORPDTD 10/24/2019 2.100% 10/24/2024
06406RAL1 110,000.00 A A1 1/21/2020 1/28/2020 110,484.00 2.00 1,007.42 110,261.99 108,257.93 BANK OF AMERICA CORP(CALLABLE) CORPORATDTD 10/21/2020 0.810% 10/24/2024 06051GJH3 300,000.00 A- A2 10/16/202 10/21/202 300,000.00 0.81 1,059.75 300,000.00 289,843.50

ADOBE INC CORP NOTE
DTD 02/03/2020 1.900% 02/01/2025
00724PAB5 175,000.00 A+ A2 1/26/2022 1/28/2022 177,077.25 1.50 554.17 176,958.28 170,819.08 PACCAR FINANCIAL CORPCORPORATE NOTESDTD 02/06/2020 1.800% 02/06/2025 69371RQ66 80,000.00 A+ A1 10/22/202 10/29/202 83,608.80 0.73 220.00 82,408.95 77,569.92 NATIONAL RURAL UTIL COOPCORPORATE NOTESDTD 02/07/2022 1.875% 02/07/2025 63743HFC1 45,000.00 A- A2 1/31/2022 2/7/2022 44,998.65 1.88 126.56 44,998.72 43,473.83 TOYOTA MOTOR CREDIT CORP CORPNOTESDTD 02/13/2020 1.800% 02/13/2025 89236TGT6 20,000.00 A+ A1 5/20/2020 5/26/2020 20,195.40 1.58 48.00 20,118.89 19,399.94 TOYOTA MOTOR CREDIT CORP CORPNOTESDTD 02/13/2020 1.800% 02/13/2025 89236TGT6 50,000.00 A+ A1 5/20/2020 5/26/2020 50,488.50 1.58 120.00 50,297.24 48,499.85 JPMORGAN CHASE & CO CORPNOTES (CALLABLEDTD 02/16/2021 0.563% 02/16/2025 46647PBY1 60,000.00 A- A2 2/9/2021 2/16/2021 60,000.00 0.56 42.23 60,000.00 57,332.64

AMERICAN EXPRESS CO CORP
NOTES (CALLABLEDTD 03/04/2022 2.250% 03/04/2025
025816CQ0 85,000.00 BBB+ A2 3/1/2022 3/4/2022 84,914.15 2.29 143.44 84,916.34 83,439.49 45 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
ROCHE HOLDINGS INC (CALLABLE)CORPORATEDTD 03/10/2022 2.132% 03/10/2025 771196BT8 425,000.00 AA Aa3 3/3/2022 3/10/2022 425,000.00 2.13 528.56 425,000.00 416,492.78 BURLINGTN NORTH SANTA FE CORPNOTES (CALDTD 03/09/2015 3.000% 04/01/2025 12189LAV3 110,000.00 AA- A3 3/5/2021 3/9/2021 118,429.30 1.07 1,650.00 116,083.12 110,835.23 HOME DEPOT INC (CALLABLE)CORPORATE NOTEDTD 03/28/2022 2.700% 04/15/2025 437076CM2 25,000.00 A A2 3/24/2022 3/28/2022 24,956.25 2.76 5.63 24,956.41 24,929.00 BANK OF NY MELLON (CALLABLE)CORP NOTESDTD 04/24/2020 1.600% 04/24/2025 06406RAN7 115,000.00 A A1 3/11/2021 3/15/2021 117,725.50 1.01 802.44 117,017.24 110,659.90 CITIGROUP INC CORPORATE NOTESDTD 05/04/2021 0.981% 05/01/2025 172967MX6 125,000.00 BBB+ A3 4/27/2021 5/4/2021 125,000.00 0.98 510.94 125,000.00 119,085.63 JPMORGAN CHASE & COCORPORATE NOTESDTD 06/01/2021 0.824% 06/01/2025 46647PCH7 135,000.00 A- A2 5/24/2021 6/1/2021 135,000.00 0.82 370.80 135,000.00 128,665.26 CITIGROUP INC CORP NOTES(CALLABLE)DTD 01/25/2022 2.014% 01/25/2026 17327CAN3 60,000.00 BBB+ A3 1/18/2022 1/25/2022 60,000.00 2.01 221.54 60,000.00 57,745.74 STATE STREET CORP CORPORATENOTESDTD 02/07/2022 1.746% 02/06/2026 857477BR3 75,000.00 A A1 2/2/2022 2/7/2022 75,000.00 1.75 196.43 75,000.00 72,591.68 GOLDMAN SACHS GROUP INCCORPORATE NOTESDTD 02/12/2021 0.855% 02/12/2026 38141GXS8 140,000.00 BBB+ A2 2/12/2021 2/17/2021 140,285.60 0.81 162.93 140,221.61 130,393.06 JPMORGAN CHASE & COCORPORATE NOTESDTD 02/24/2022 2.595% 02/24/2026 46647PCV6 100,000.00 A- A2 2/16/2022 2/24/2022 100,000.00 2.60 266.71 100,000.00 97,123.50 CITIGROUP INC CORP NOTES(CALLABLE)DTD 03/17/2022 3.290% 03/17/2026 172967NL1 65,000.00 BBB+ A3 3/10/2022 3/17/2022 65,000.00 3.29 83.16 65,000.00 64,147.14 STATE STREET CORP NOTES(CALLABLE)DTD 10/29/2020 2.901% 03/30/2026 857477BM4 200,000.00 A A1 2/17/2022 2/22/2022 204,026.00 2.38 16.12 203,890.85 197,801.60 46 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
UNITEDHEALTH GROUP INC(CALLABLE) CORPORDTD 05/19/2021 1.150% 05/15/2026 91324PEC2 250,000.00 A+ A3 5/17/2021 5/19/2021 249,565.00 1.19 1,086.11 249,640.68 232,216.50 MORGAN STANLEY CORP NOTESDTD 07/25/2016 3.125% 07/27/2026 61761J3R8 175,000.00 BBB+ A1 12/2/2021 12/6/2021 184,782.50 1.86 972.22 184,112.62 173,306.53 BANK OF AMERICA CORP(CALLABLE) CORPORATDTD 10/21/2020 1.197% 10/24/2026 06051GJK6 225,000.00 A- A2 12/2/2021 12/6/2021 219,908.25 1.68 1,174.56 220,239.51 207,432.90 TARGET CORP CORPORATE NOTESDTD 01/24/2022 1.950% 01/15/2027 87612EBM7 155,000.00 A A2 1/28/2022 2/1/2022 154,446.65 2.03 562.52 154,464.70 149,754.33 TARGET CORP CORPORATE NOTESDTD 01/24/2022 1.950% 01/15/2027 87612EBM7 45,000.00 A A2 1/19/2022 1/24/2022 44,923.50 1.99 163.31 44,926.32 43,477.07 JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 03/07/2022 2.350% 03/08/2027 24422EWD7 125,000.00 A A2 3/8/2022 3/10/2022 124,690.00 2.40 195.83 124,693.74 121,588.75 Security Type Sub-Total 7,575,000.00 7,605,707.65 1.72 28,909.52 7,600,916.02 7,409,455.54 Agency CMBS
FHLMC MULTIFAMILY STRUCTURED PDTD 12/01/2012 2.355% 07/01/2022 3137AVXN2 270,310.83 AA+ Aaa 8/14/2019 8/19/2019 273,605.24 1.92 530.49 270,597.16 270,418.12 FHLMC MULTIFAMILY STRUCTURED PDTD 12/01/2012 2.307% 08/01/2022 3137AWQH1 150,000.00 AA+ Aaa 9/6/2019 9/11/2019 151,746.09 1.89 288.38 150,201.92 150,096.53 FHLMC MULTIFAMILY STRUCTURED PDTD 12/01/2012 2.307% 08/01/2022 3137AWQH1 125,000.00 AA+ Aaa 9/4/2019 9/9/2019 126,845.70 1.78 240.31 125,213.03 125,080.44 FNA 2013-M1 A2DTD 01/01/2013 2.365% 08/01/2022
3136ABPW7 45,136.46 AA+ Aaa 9/10/2019 9/13/2019 45,483.79 2.09 88.94 45,176.70 45,136.46 FHLMC MULTIFAMILY STRUCTURED PDTD 05/01/2013 2.510% 11/01/2022 3137B1BS0 299,644.99 AA+ Aaa 8/12/2019 8/15/2019 305,169.69 1.92 626.76 300,652.05 300,244.23 FNA 2013-M7 A2DTD 05/01/2013 2.280% 12/01/2022
3136AEGQ4 59,738.62 AA+ Aaa 9/4/2019 9/9/2019 60,521.26 1.86 113.50 59,900.59 59,769.93 FHLMC MULTIFAMILY STRUCTURED PDTD 11/01/2013 2.669% 02/01/2023 3137B5JL8 13,803.47 AA+ Aaa 6/13/2018 6/18/2018 13,732.83 2.79 30.70 13,790.67 13,825.17 47 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Agency CMBS
FHMS KP05 ADTD 12/01/2018 3.203% 07/01/2023
3137FKK39 3,547.99 AA+ Aaa 12/7/2018 12/17/201 3,547.98 3.20 9.47 3,547.99 3,564.34 FHMS KJ27 A1DTD 11/01/2019 2.092% 07/01/2024
3137FQ3V3 22,522.10 AA+ Aaa 11/20/2019 11/26/2019 22,521.54 2.09 39.26 22,521.83 22,517.30 Security Type Sub-Total 989,704.46 1,003,174.12 1.92 1,967.81 991,601.94 990,652.52 ABS
GMALT 2020-3 A3DTD 09/29/2020 0.450% 08/21/2023
362569AC9 49,719.29 AAA Aaa 9/22/2020 9/29/2020 49,714.53 0.45 6.84 49,717.00 49,571.67 FORDO 2019-A A3DTD 03/22/2019 2.780% 09/15/2023
34533FAD3 27,109.85 NR Aaa 3/19/2019 3/22/2019 27,105.29 2.78 33.50 27,108.37 27,135.86 NALT 2020-B A3DTD 09/29/2020 0.430% 10/16/2023
65480EAD3 69,165.35 AAA Aaa 9/22/2020 9/29/2020 69,158.24 0.43 13.22 69,161.75 68,880.70 BMWLT 2021-1 A3DTD 03/10/2021 0.290% 01/25/2024
05591RAC8 60,000.00 AAA Aaa 3/2/2021 3/10/2021 59,998.10 0.29 2.90 59,998.80 59,396.18 CARMX 2019-2 A3DTD 04/17/2019 2.680% 03/15/2024
14316LAC7 31,141.35 AAA NR 4/9/2019 4/17/2019 31,138.17 2.68 37.09 31,140.08 31,250.51 TLOT 2021-A A3DTD 04/21/2021 0.390% 04/22/2024
89238EAC0 90,000.00 AAA Aaa 4/13/2021 4/21/2021 89,989.50 0.39 10.73 89,992.80 88,346.03 VZOT 2019-C A1ADTD 10/08/2019 1.940% 04/22/2024
92348AAA3 94,544.11 AAA NR 10/1/2019 10/8/2019 94,536.83 1.94 56.04 94,540.81 94,652.82 GMALT 2021-2 A3DTD 05/26/2021 0.340% 05/20/2024
380144AC9 125,000.00 AAA NR 5/18/2021 5/26/2021 124,980.38 0.35 12.99 124,985.96 123,002.45 VZOT 2020-A A1ADTD 01/29/2020 1.850% 07/22/2024
92348TAA2 80,154.85 AAA Aaa 1/21/2020 1/29/2020 80,145.46 1.85 45.31 80,150.01 80,164.96 HDMOT 2020-A A3DTD 01/29/2020 1.870% 10/15/2024
41284UAD6 34,778.10 AAA Aaa 1/21/2020 1/29/2020 34,770.51 1.87 28.90 34,774.01 34,774.33 HAROT 2020-3 A3DTD 09/29/2020 0.370% 10/18/2024
43813KAC6 125,000.00 AAA NR 9/22/2020 9/29/2020 124,981.64 0.37 16.70 124,988.45 123,448.98 VZOT 2020-B ADTD 08/12/2020 0.470% 02/20/2025
92290BAA9 100,000.00 NR Aaa 8/4/2020 8/12/2020 99,979.00 0.47 14.36 99,986.58 98,624.54 CARMX 2020-4 A3DTD 10/21/2020 0.500% 08/15/2025
14316HAC6 85,000.00 AAA NR 10/14/202 10/21/202 84,981.29 0.50 18.89 84,986.90 83,444.09 48 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
HART 2021-A A3DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 70,000.00 AAA NR 4/20/2021 4/28/2021 69,992.64 0.38 11.82 69,994.19 68,201.18 KCOT 2021-2A A3DTD 07/28/2021 0.560% 11/17/2025
50117XAE2 125,000.00 NR Aaa 7/20/2021 7/28/2021 124,995.29 0.56 31.11 124,996.03 118,607.70 CARMX 2021-1 A3DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 35,000.00 AAA NR 1/20/2021 1/27/2021 34,993.08 0.34 5.29 34,994.74 34,142.29 CARMX 2021-2 A3DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 110,000.00 AAA NR 4/13/2021 4/21/2021 109,976.30 0.52 25.42 109,980.94 107,456.84 TAOT 2021-D A3DTD 11/15/2021 0.710% 04/15/2026
89238JAC9 100,000.00 AAA NR 11/9/2021 11/15/2021 99,997.87 0.71 31.56 99,998.05 96,494.97 HART 2021-C A3DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 75,000.00 AAA NR 11/9/2021 11/17/2021 74,983.26 0.75 24.67 74,984.64 72,025.68 CARMX 2021-3 A3DTD 07/28/2021 0.550% 06/15/2026
14317DAC4 155,000.00 AAA Aaa 7/21/2021 7/28/2021 154,974.50 0.55 37.89 154,978.03 150,374.57 VALET 2021-1 A3DTD 12/13/2021 1.020% 06/22/2026
92868KAC7 125,000.00 AAA Aaa 12/7/2021 12/13/202 124,995.10 1.02 38.96 124,995.42 120,702.78 DCENT 2021-A1 A1DTD 09/27/2021 0.580% 09/15/2026
254683CP8 95,000.00 AAA Aaa 9/20/2021 9/27/2021 94,979.66 0.58 24.49 94,981.75 90,087.86 COPAR 2021-1 A3DTD 10/27/2021 0.770% 09/15/2026
14044CAC6 95,000.00 AAA Aaa 10/19/202 10/27/202 94,998.20 0.77 32.51 94,998.36 90,863.44 GMCAR 2021-4 A3DTD 10/21/2021 0.680% 09/16/2026
362554AC1 80,000.00 AAA Aaa 10/13/202 10/21/202 79,997.96 0.68 22.67 79,998.14 76,422.53 WOART 2021-D A3DTD 11/03/2021 0.810% 10/15/2026
98163KAC6 120,000.00 AAA NR 10/26/202 11/3/2021 119,983.66 0.81 43.20 119,985.01 115,284.07 KCOT 2022-1A A3DTD 03/23/2022 2.670% 10/15/2026
50117EAC8 170,000.00 NR Aaa 3/15/2022 3/23/2022 169,975.69 2.67 100.87 169,975.82 167,794.91 HART 2022-A A3DTD 03/16/2022 2.220% 10/15/2026
448977AD0 185,000.00 AAA NR 3/9/2022 3/16/2022 184,992.88 2.22 171.13 184,992.95 182,728.70 GMCAR 2022-1 A3DTD 01/19/2022 1.260% 11/16/2026
380146AC4 75,000.00 AAA NR 1/11/2022 1/19/2022 74,993.48 1.26 39.38 74,993.75 72,997.25 49 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
COMET 2022-A1 A1DTD 03/30/2022 2.800% 03/15/2027
14041NFZ9 325,000.00 AAA NR 3/23/2022 3/30/2022 324,975.50 2.80 25.28 324,975.53 324,195.19 Security Type Sub-Total 2,911,612.90 2,911,284.01 1.21 963.72 2,911,354.87 2,851,073.08 Managed Account Sub Total 34,091,317.36 34,045,182.03 82,012.04 32,902,168.33Securities Sub TotalAccrued Interest $34,091,317.36 $34,045,182.03 $82,012.04 $32,902,168.33 $82,012.04
34,046,917.53
$34,046,917.53

1.24 1.24%
Total Investments $32,984,180.37
50 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Appendix
|
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bankis a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sourcesexternal to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers arefor illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion ofthe strategy rated by a NRSRO.It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any salescharges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to belower than the performance shown.The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion asof the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actualevents occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and datapresented are not necessarily indicative of future events or expected performance.For more information regarding PFMAM's services or entities, please visit www.pfmam.com.© 2022 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 51 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Appendix
|
Important Disclosures
This information does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security by anyone in any jurisdiction in which such offer orsolicitation is not authorized, or in which the person making such offer is not qualified to do so, or to anyone to whom it is unlawful to make such an offer or solicitation, or to anyone in any jurisdiction outside the United States. Investors should consider the investment objectives, risks, charges and expenses before investing in any of the Fund's portfolios. This and other information about the Fund is available in the Fund's current Prospectus, which should be read carefully before investing. A copy of the Fund's Prospectus may be obtained by calling 1-800-338-3383 or is available on the Fund's website at www.pfmfunds.com. While the Fund's portfolio seeks tomaintain a stable net asset value of $1.00 per share, it is possible to lose money investing in the Fund. An investment in the Fund is not insured or guaranteed by theFederal Deposit Insurance Corporation or any other government agency. Shares of the Fund are distributed by PFM Fund Distributors, Inc., member Financial IndustryRegulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is a wholly owned subsidiary of PFM Asset Management LLC. Effective October 3, 2016, Government Select Series adopted a policy to invest at least 99.5% of its total assets in cash and the following types of high quality, short-term investments: U.S. government securities (including securities issued or guaranteed by the U.S. government or itsagencies or instrumentalities) (U.S. Government Securities); repurchase agreements for U.S. Government Securities that are collateralized fully; and shares of money market funds that invest exclusively in types of obligations in which Government Select Series is authorized to invest. It also adopted, effective on such date, a policy under which it invests, under normal market conditions, at least 80% of its net assets in U.S. Government Securities and/or repurchase agreements that arecollateralized fully by U.S. Government Securities. Prior to October 3, 2016, Government Select Series was known as Prime Series and invested in a broader range of money market obligations, including obligations of U.S. companies, financial institutions and municipalities. Investment performance for periods prior to October 3, 2016is not reflective of the current investment strategy of Government Select Series.Effective December 20, 2021, PFM Funds' Government Select Series has merged into the First American Funds Government Obligations Fund, Class Z. For moreinformation about First American Funds Government Obligations Fund, please visit www.FirstAmericanFunds.com. Historical information on the PFM Funds'Government Select Series will remain on www.pfmfunds.com until June 30, 2022.

Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimatedmarket value.

In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.

Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is showngross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.

Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.Money market fund/cash balances are included in performance and duration computations. 52 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Appendix
|
Important Disclosures
Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.MBS maturities are represented by expected average life. 53 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Appendix
|
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.Agencies: Federal agency securities and/or Government-sponsored enterprises.Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector addedor subtracted from the overall portfolio performance.Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compoundingon investment returns, while nominal yield does not.FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.Interest Rate: Interest per year divided by principal amount and expressed as a percentage.Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.Maturity: The date upon which the principal or stated value of an investment becomes due and payable.Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.Par Value: The nominal dollar face amount of a security.Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is themortgage-backed security. 54 © PFM Asset Management LLC pfmam.com
City of Santa Fe Springs
For the Quarter Ended March 31, 2022
Appendix
|
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments andmaturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whosedecisions are binding on its members.Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.U.S. Treasury: The department of the U.S. government that issues Treasury securities.Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time periodfrom purchase date to maturity, stated as a percentage on an annualized basis.YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the timeperiod remaining until maturity, stated as a percentage on an annualized basis. 55 City Council Meeting June 21, 2022
Report Submitted By: Travis Hickey/Lana Dich Date of Report: June 17, 2022 Finance & Administrative Services
City of Santa Fe Springs

CONSENT AGENDA
Adoption of the City’s FY 2022-23 Investment Policy

BACKGROUND
Prior to January 1, 2005, State statute required the City Treasurer to render to the City Council an annual Investment Policy (“Policy”). Although the law changed to eliminate this requirement, an annual review of the Policy for legal compliance and subsequent submittal to the City Council is a good fiscal practice.

Ms. Sarah Meacham, Director with PFM Asset Management, LLC (“PFMAM”), along with her staff, regularly meet with Staff to review the City’s investment portfolio performance, including discussion on compliance with the City’s Policy and any recommended changes to the Policy.

The Policy was originally adopted on June 25, 2015. Minor updates have been made since that time to ensure compliance with changes to the California Government Code (“Code”).

At this time, PFMAM does not recommend any updates to the Policy. However, there is an update to the glossary related to Governmental Accounting Standards Board (GASB) No. 98. The Statement establishes the term annual comprehensive financial report and its acronym ACFR. The new term and acronym replace instances of comprehensive annual financial report and its acronym in generally accepted accounting principles for state and local governments. This Statement was developed in response to concerns raised by stakeholders that common pronunciation of the acronym for comprehensive annual financial report sounds like a profoundly objectionable racial slur. This Statement’s introduction of the new term is founded on a commitment to promoting inclusiveness.

The current Policy with recommended changes along with the final version from PFMAM outlining the recommended changes are. attached to this report.

The current policy is in compliance with the requirements of the Code and are modeled after the recommended language endorsed by the California Municipal Treasurer’s Association (“CMTA”). The proposed policy retains the existing overall investment objectives, in priority order, to be (1) safety (2) liquidity and (3) return on investment:

RECOMMENDATION
Adopt the Investment Policy for FY 2022-23.

ITEM NO. 10H
City Council Meeting June 21, 2022
Report Submitted By: Travis Hickey/Lana Dich Date of Report: June 17, 2022 Finance & Administrative Services
City of Santa Fe Springs
Safety — Safety of principal is the foremost objective of the investment program. Investments will be undertaken in a manner that seeks to ensure preservation of capital in the portfolio.

Liquidity — The investment portfolio will remain sufficiently liquid to enable the City to meet its cash flow requirements.

Return on Investment — The investment portfolio will be designed with the objective of attaining a market rate of return throughout budgetary and economic cycles, taking into consideration with the investment risk constraints of safety and liquidity needs.

Raymond R. Cruz
City Manager
Attachment(s)

1. City Investment Policy (current Policy with revisions)

2. City Investment Policy (final version)
1 ATTACHMENT 1
City of Santa Fe Springs
Investment Policy
June 15xx21, 20212

1. Policy
The intent of the Investment Policy of City of Santa Fe Springs is to define the parameters within which funds are to be managed. In methods, procedures and practices, the policy formalizes the framework for the City’s investment activities that must be exercised to ensure effective and judicious fiscal and investment management of the City’s funds. The guidelines are intended to be broad enough to allow the investment officer to function properly within the parameters of responsibility and authority, yet specific enough to adequately safeguard the investment assets.

The City will invest its funds in such a manner as to comply with applicable state laws (California Government Code Section 53600, et seq. and 53630, et seq.), ensure prudent money management, provide for daily cash flow needs, and meet the City’s investment objectives.

2. Scope
The Investment Policy applies to all funds and investment activities of the City except for the investment of bond proceeds, which are governed by the appropriate bond documents, and any pension or other post-employment benefit funds held in a trust that has a separate investment policy.

Except for funds in certain restricted and special funds, the City commingles its funds to maximize investment earnings and to increase efficiencies with regard to investment pricing, safekeeping and administration.

3. Prudence
The standard of prudence to be used by those authorized to invest on behalf of the City will be the "prudent investor" standard and will be applied in the context of managing an overall portfolio. The “prudent investor” standard states that:
“When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the agency.”

4. Objectives
The primary objectives, in priority order, of the investment activities of the City are:

City of Santa FeSprings Investment Policy
2 1. Safety — Safety of principal is the foremost objective of the investment program.

Investments will be undertaken in a manner that seeks to ensure preservation of capital in the portfolio.

2. Liquidity — The investment portfolio will remain sufficientlyliquid to enable the City to meet its cash flow requirements.

3. Return on Investment — The investment portfolio will be designed with the objective of attaining a market rate of return throughout budgetary and economic cycles, taking into consideration with the investment risk constraints of safety and liquidity needs.

5. Delegation of Authority
The City Council’s management responsibility for the investment program is hereby delegated for a one-year period to the City Treasurer. Subject to review, the City Council may renew the delegation of authority pursuant to this section each year. The City Treasurer, and the Treasurer’s designees, will monitor and review all investments for consistency with this Investment Policy. The City Treasurer may delegate day-today investment decision making and execution authority to an investment advisor.

Eligible investment advisors must be registered with the Securities and Exchange Commission (SEC) under the Investment Advisors Act of 1940. The advisor will follow the Policy and such other written instructions as are provided.

6. Ethics and Conflict of Interest
Officers and employees involved in the investment process will refrain from personal business activities that could conflict with proper execution of the investment program, or which could impair their ability to make impartial decisions. Employees and investment officials will disclose to the City Manager any material financial interests in financial institutions that conduct business within their jurisdiction, and they will further disclose any large personal financial/investment positions that could be related to the performance of the City’s portfolio.

7. Authorized Financial Dealers and Institutions
The City Treasurer will maintain a list of financial dealers and institutions qualified and authorized to transact business with the City.

The purchase by the City of any investment other than those purchased directly from the issuer, will be purchased either from an institution licensed by the State as a broker-dealer, as defined in Section 25004 of the Corporations Code, who is a member of Financial Industry Regulatory Authority (FINRA), or a member of a Federally regulated securities exchange, a National or State Chartered Bank a Federal or State Association (as defined by Section 5102 of the Financial Code), or a brokerage firm designated as a Primary Government Dealer by the Federal Reserve Bank.

The City Treasurer will investigate all institutions that wish to do business with the City, in order to determine if they are adequately capitalized, make markets in securities appropriate to the City’s needs, and agree to abide by the conditions set forth in the City’s Investment Policy and any other guidelines that may be provided. This City of Santa FeSprings Investment Policy
3 will be done annually by having the financial institutions submit in writing that they have read and will abide by the City’s Investment Policy and submit its most recent audited Financial Statement within 120 days of the institution’s fiscal year end.

If the City has an investment advisor, the investment advisor may use its own list of authorized broker/dealers to conduct transactions on behalf of the City.

Purchase and sale of securities will be made on the basis of competitive bids and offers with a minimum of three quotes being obtained, whenever possible.

8. Authorized and Suitable Investment
The City will limit investments in any one issuer, except U.S. Treasuries, Federal Agencies, supranationals, and pooled funds (i.e., money market funds, local government investment pools, and LAIF), to no more than 5% regardless of security type.

Where this section specifies a percentage limitation for a particular security type, that percentage is applicable only at the date of purchase. Credit criteria listed in this section refers to the credit rating category (inclusive of modifiers) at the time the security is purchased. If an investment’s credit rating falls below the minimum rating required at the time of purchase, the City Treasurer will perform a timely review and decide whether to sell or hold the investment.

1. U.S. Treasuries. United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the full faith and credit of the United States are pledged for the payment of principal and interest.

2. U.S. Agency Obligations. Federal agency or United States government-sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government-sponsored enterprises.

3. California State and Local Agency Obligations. Obligations of the State of California or any local agency within the state, including bonds payable solely out of revenues from a revenue producing property owned, controlled or operated by the state or any local agency or by a department, board, agency or authority of the state or any local agency.

Obligations eligible for investment under this subdivision with maturities in excess of one year must be rated in a rating category of “A,” its equivalent, or better by a nationally recognized statistical rating organization (NRSRO). Obligations eligible for investment under this subdivision with maturities under one year must be rated in a rating category of “A-1,” its equivalent, or better by a NRSRO. No more than 30% of the City's portfolio may be invested in municipal obligations (includes 4. Other State Obligations).

4. Other State Obligations. Registered treasury notes or bonds of any of the other 49 United States in addition to California, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any of the other 49 United States, in addition to California. Obligations eligible for investment under this subdivision with maturities in excess of one year must be rated in a rating category of “A,” its equivalent, or better by a NRSRO. Obligations eligible for investment under this subdivision with maturities under one year
City of Santa FeSprings Investment Policy
4 must be rated in a rating category “A-1,” its equivalent, or better by a NRSRO. No more than 30% of the City's portfolio may be invested in municipal obligations (includes 3.

California State and Local Agency Obligations).

5. Bankers' Acceptances. Purchases of bankers' acceptances will have a maximum maturity of 180 days. No more than 40% of the City's portfolio may be invested in bankers’ acceptances. Eligible bankers’ acceptances must be rated in a rating category of “A-1,” its equivalent, or better by a NRSRO.

6. Commercial Paper. Commercial paper of “prime” quality of the highest ranking or of the highest letter and number rating as provided for by a NRSRO. The entity that issues the commercial paper will meet all of the following conditions in either paragraph a or paragraph b:
a. The entity meets the following criteria: (i) Is organized and operating in the United States as a general corporation. (ii) Has total assets in excess of five hundred million dollars ($500,000,000). (iii) Has debt other than commercial paper, if any, that is rated in a rating category of “A,” its equivalent orhigher by a NRSRO.
b. The entity meets the following criteria: (i) Is organized within the United States as a special purpose corporation, trust, or limited liability company. (ii) Has program wide credit enhancements including, but not limited to, over collateralization, letters of credit, or surety bond. (iii) Has commercial paper that is rated in a rating category of “A-1,” its equivalent or higher, or the equivalent, by aNRSRO.

Eligible commercial paper will have a maximum maturity of 270 days or less. No more than 25% of the City’s portfolio may be invested in commercial paper.

7. Medium-Term Notes. Medium-term notes, defined as all corporate and depository institution debt securities with a maximum remaining maturity of five years or less, issued by corporations organized and operating within the United States or by depository institutions licensed by the U.S. or any state, and operating within the U.S. Medium-term notes must be rated in a rating category of “A,” its equivalent, or better by a NRSRO. No more than 30% of the City’s portfolio may be invested in medium-term notes.

8. Bank Deposits. FDIC-insured or fully collateralized demand deposit accounts, savings accounts, market rate accounts, time certificates of deposits (“TCDs”) and other types of bank deposits in a state or national bank, savings association or federal association, federal or state credit union in California. The amount on deposit in any financial institution shall not exceed the shareholder’s equity. In accordance with California Government Code Section 53635.2, to be eligible to receive City deposits, a financial institution will have received an overall rating of not less than “satisfactory” in its most recent evaluation by the appropriate federal financial supervisory agency of its record of meeting the credit needs of California's communities. The City will have a signed agreement with any depository accepting City funds per Government Code Section 53649.

The maturity of TCDs may not exceed three years. No more than 30% of the City’s portfolio may be invested in TCDs.

City of Santa FeSprings Investment Policy
5 9. Deposit Placement Services. The City may invest a portion of its portfolio in deposits at a commercial bank, savings bank, savings and loan association, or credit union in the State of California (the selected depository) that uses a private sector entity that assists in the placement of deposits in the United States. The full amount of each deposit placed and the interest that may accrue on each such deposit will at all times be insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration. Additional required criteria for this investment type can be found in California Government Code Section 53601.8.

No more than 30% of the City's investment portfolio may be invested in deposit placement service deposits. No more than 10% of the City’s portfolio may be invested with any one selected depository for placement services.

The City will monitor the financial institutions selected by deposit placement services to ensure that the City does not deposit more than the amount eligible for FDIC insurance in a single financial institution through non-negotiable CDs and deposit placement services.

10. Negotiable Certificates of Deposit. Negotiable certificates of deposit issued by a nationally or state-chartered bank, a savings association or a federal association (as defined by Section 5102 of the Financial Code), a state or federal credit union, or by a federally- or state-licensed branch of a foreign bank. Eligible negotiable CDs with maturities in excess of one year must be rated in a rating category of “A,” its equivalent, or better by a NRSRO. Eligible negotiable CDs with maturities under one year must be rated in a rating category of “A-1,” its equivalent, or better by a NRSRO. No more than 30% of the City's investment portfolio may be invested in negotiableCDs.

11. State of California's Local Agency Investment Fund (LAIF). The State Treasurer established LAIF for the benefit of local agencies. The City can invest up to the maximum amount permitted by the State Treasurer.

12. Los Angeles County Pooled Fund. The Los Angeles County Treasurer manages a Pooled Fund, in which the City can invest funds that are needed for short-term liquidity.

13. Money Market Funds. Shares of beneficial interest issued by diversified management companies that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1, etseq.).

To be eligible for investment pursuant to this subdivision these companies willeither:
a. Attain the highest-ranking letter or numerical rating provided by not less than two of the three largest NRSRO or
b. Have an investment advisor registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience managing money market mutual funds and with assets under management in excess of $500,000,000.

No more than 20% of the City’s portfolio may be invested in money market funds.

City of Santa FeSprings Investment Policy
6 14. Local Government Investment Pools (LGIPs). Shares of beneficial interest issued by a joint powers authority organized pursuant to Government Code Section 6509.7 that invests in the securities and obligations authorized in subdivisions (a) to (q) of Government Code Section 53601, inclusive. Each share will represent an equal proportional interest in the underlying pool of securities owned by the joint powers authority. To be eligible under this section, the joint powers authority issuing the shares will have retained an investment adviser that meets all of the followingcriteria:
a. The adviser is registered or exempt from registration with the Securities and Exchange Commission.
b. The adviser has not less than five years of experience investing in the securities and obligations authorized in subdivisions (a) to (q) California GovernmentCode Section 53601, inclusive.
c. The adviser has assets under management in excess of five hundred million dollars ($500,000,000).

15. Supranationals. United States dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC), or Inter-American Development Bank (IADB), with a maximum remaining maturity of five years or less, and eligible for purchase and sale within the United States. Investments under this subdivision must be rated in a rating category of “AA,” its equivalent orbetter by a NRSRO. No more than 30% of the City’s portfolio may be invested in supranationals.

16. Asset-Backed Securities (ABS). Any mortgage pass-through security, collateralized mortgage obligation, mortgage-backed or other pay-through bond, equipment lease-back certificate, consumer receivable pass-through certificate, or consumer receivable-backed bond of a maximum remaining maturity of five years or less. Eligible securities must be rated, by a NRSRO, in a rating category of “AA,” its equivalent or higher. No more than 20% of the City's portfolio may be invested in ABS.

9. Prohibited Investments
Investments not described herein, including but not limited to stocks, inverse floaters, range notes, mortgage-derived, interest-only strips, or any security that could result in zero interest accrual if held to maturity are prohibited for purchased by the City, except as authorized by California Government Code Section 53601.6.

The City will not leverage or borrow money for the purpose of investing.

10. Local Investment
The City will strive to make investments that benefit the local area. Placing moniesin local commercial banks is one method of promoting this goal. Deposits may be placed with local commercial banks up to the amount insured by the FDIC.

City of Santa FeSprings Investment Policy
7 11. Non-Discrimination
The City has an obligation to be aware of the social and political impacts of its investments and to act responsibly in making its investment decisions. The City will not knowingly make any investments in any institution, company, corporation, subsidiary or affiliate that practices or supports directly or indirectly through its actions, discrimination on the basis of race, religion, color, creed, national or ethnic origin, age, sex, sexual preference, or physical disability.

12. Review of Investment Portfolio
California Government Code requires compliance be measured only at the time of purchase. Balance fluctuations can cause sector and issuer percentages to rise above the limits described above and changes in the financial environment can cause ratings to fall below minimum requirements. While these situations do not constitute non-compliance, the City Treasurer will monitor for these situations and decide whether they warrant making changes to the portfolio. Instances of non-compliance will be reported to the City Council at least quarterly, if any arise.

13. Investment Pools
The City will complete due diligence for any pooled investments the City invests in.

The City Treasurer will collect and evaluate the following information for each pool/fund:
• Permitted investments and objectives
• Description of interest calculations
• Method/frequency of interest distribution
• Treatment of gains and losses
• Method/frequency of audits
• Description of eligible investors
• Limits/minimum accountsizes, type of assets, transaction sizes, and number of transactions
• Limits on withdrawals
• Frequency of statements and reporting of underlying investments • Reserves or retained earnings
• Fee schedules

14. Collateralization
Collateralization is required for deposits. Deposits must be collateralized as specified under Government Code Section 53630, et seq. The City, at its discretion, may waive the collateralization requirements for any portion that is covered by federal deposit insurance. Funds may be deposited in active or inactive accounts, but may not exceed the total paid-up capital and surplus in any depository.

City of Santa FeSprings Investment Policy
8 15. Safekeeping and Custody
All deliverable securities owned by the City, will be kept in safekeeping/custody by a third-party bank’s trust department. All trades of marketable securities will be executed (cleared and settled) on a delivery vs. payment (DVP) basis to ensure that securities are deposited in the City’s safekeeping/custody bank prior to the release of funds.

16. Maximum Maturities
Maturities will be based on a review of cash flow forecasts. Maturities will be scheduled to permit the City to meet all projected obligations.

The City may not invest in a security that exceeds five years from the date of purchase unless the City Council has provided at least 90 days prior approval for a specific purpose.

17. Internal Controls
The City Treasurer will establish an annual process of independent review by an external auditor. This review will provide internal control by assuring compliance with policies and procedures.

18. Performance Standards
The City Treasurer will establish a performance benchmark consistent with the City’s investment strategy and supportive of the City’s investment objectives.

19. Reporting Requirements
The City Treasurer will render a quarterly report to the City Council and City Manager within 30 days following the end of the quarter covered. The report will include at least:
• List of all investments owned by theCity
• List transactions as required by California Government Code 53607 when City Council has delegated authority
• Investment type
• Issuer
• Maturity date
• Total par and dollar amount invested
• Description of any funds, investments, or programs managed by an advisor or other outside party
• Market value of the investment portfolio as of the date of the report, andthe source of this valuation
• Statement as to whether the City’s investments comply with the Investment Policy, and if not, why not
• Statement denoting the ability of the City to meet its expenditure requirements for the next six months
City of Santa FeSprings Investment Policy
9 20. Investment Policy Adoption
The City’s Investment Policy will be adopted by resolution of the City Council. The Policy will be reviewed annually by the City Council and any modifications made thereto must be approved by the Council.

21. Glossary
See attached Appendix A.
i

APPENDIX A

GLOSSARY
AGENCIES: Federal agency securities and/or Government-sponsored enterprises.

BENCHMARK: A comparative base for measuring the performance or risk tolerance of the investment portfolio. A benchmark should represent a close correlation to the level of risk and the average duration of the portfolio’s investments.

BROKER: A broker brings buyers and sellers together for a commission.

CERTIFICATE OF DEPOSIT (CD): A deposit with a specific maturity evidenced by a Certificate. Large-denomination CDs are typically negotiable.

COLLATERAL: Securities, evidence of deposit or other property, which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies.

COMPREHENSIVE ANNUAL COMPREHENSIVE FINANCIAL REPORT (CACFR):

The official annual report of the City. It includes five combined statements for each individual fund and account group prepared in conformity with GAAP. It also includes supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section.

DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account.

DELIVERY VERSUS PAYMENT: There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities.

DIVERSIFICATION: Dividing investment funds among a variety of securities offering independent returns.

DURATION: A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Rising interest rates mean falling bond prices, while declining interest rates mean rising bond prices.

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that insures bank deposits, currently up to $250,000 per entity.

LIQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes.

MATURITY: The date upon which the principal or stated value of an investment becomes due and payable.

MONEY MARKET: The market in which short-term debt instruments (bills, commercial paper, bankers’ acceptances, etc.) are issued and traded.

PORTFOLIO: Collection of securities held by an investor. ii

APPENDIX A
PRIMARY DEALER: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include Securities and Exchange Commission (SEC)-registered securities broker-dealers, banks, and a few unregulated firms.

RATE OF RETURN: The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity on a bond the current income return.

SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank’s vaults for protection.

SECURITIES & EXCHANGE COMMISSION: Agency created by Congress to protect investors in securities transactions by administering securities legislation.

SEC RULE 15(C)3-1: See Uniform Net Capital Rule.

UNIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that member firms as well as nonmember broker-dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio.

Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash. 1 ATTACHMENT 2
City of Santa Fe Springs
Investment Policy
June 21, 2022