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Home My WebLink AboutStaff Report 2408-3402CITY OF PALO ALTO CITY COUNCIL Special Meeting Monday, September 09, 2024 Council Chambers & Hybrid 5:30 PM Agenda Item 19.City of Palo Alto Monthly Investment Activity Report July 2024 (Unaudited) City Council Staff Report Report Type: INFORMATION REPORTS Lead Department: Administrative Services Meeting Date: September 9, 2024 Report #:2408-3402 TITLE City of Palo Alto Monthly Investment Activity Report July 2024 (Unaudited) ATTACHMENTS Attachment A: 2024 07 (July) Monthly Investment Activity Report APPROVED BY: Lauren Lai ꢀꢁꢂꢃꢄꢅꢆꢇꢈꢉꢇꢊꢋꢌꢁꢍꢋꢈꢎꢀꢏꢈꢐꢑꢐꢒꢓꢔꢕꢒꢖꢀꢑꢕꢒꢖꢕꢐꢔꢕꢖꢐꢗꢉꢉꢖꢓꢒꢓꢘꢒꢙꢑꢀꢗꢙꢚꢑ CITYꢀOFꢀPALOꢀALTOꢀ MONTHLYꢀINVESTMENTꢀACTIVITYꢀREPORTꢀ Julyꢀ2024ꢀ(Unaudited)ꢀ ꢀ ꢀ TO:ꢀHonorableꢀCityꢀCouncilꢀ ReportꢀPostedꢀatꢀtheꢀCity’sꢀWebsite:ꢀwww.cityofpaloalto.org/investmentreportingꢀ AboveꢀLinkꢀonꢀCouncilꢀAgendaꢀofꢀSeptemberꢀ9,ꢀ2024ꢀꢀ ______________________________________________________________________ꢀ ꢀ TheꢀCity’sꢀInvestmentꢀPolicy1ꢀ(Policy)ꢀandꢀCaliforniaꢀGovernmentꢀCodeꢀSectionꢀ53607ꢀrequiresꢀthatꢀaꢀ reportꢀofꢀtransactionsꢀ(investments,ꢀreinvestment,ꢀsold,ꢀandꢀexchangedꢀsecurities)ꢀbeꢀmadeꢀavailableꢀ toꢀtheꢀCouncilꢀonꢀaꢀmonthlyꢀbasis.ꢀꢀ ꢀ Theꢀattachedꢀlistꢀofꢀtransactionsꢀ(AttachmentꢀA)ꢀalsoꢀincludes,ꢀthoughꢀnotꢀrequiredꢀbyꢀtheꢀPolicyꢀorꢀ theꢀ governmentꢀ code,ꢀ securityꢀ maturitiesꢀ andꢀ cashꢀ movementꢀ activityꢀ inꢀ theꢀ City’sꢀ twoꢀ liquidꢀ operatingꢀcashꢀpoolꢀaccountsꢀ(LocalꢀAgencyꢀInvestmentꢀFundꢀorꢀLAIFꢀandꢀFidelityꢀaccounts).ꢀLiquidꢀ cashꢀareꢀavailableꢀonꢀaꢀdailyꢀbasisꢀbutꢀareꢀinvestedꢀbyꢀtheꢀtwoꢀentitiesꢀinꢀaꢀrangeꢀofꢀsecuritiesꢀ(e.g.,ꢀ treasuries,ꢀfederalꢀagencies,ꢀcommercialꢀpaper,ꢀcorporateꢀbonds,ꢀtimeꢀdeposits,ꢀloans,ꢀandꢀcertificateꢀ ofꢀdeposits/bankꢀnotes).ꢀ ꢀ Thisꢀreportingꢀrequirementꢀisꢀseparateꢀandꢀdistinctꢀfromꢀtheꢀquarterlyꢀinvestmentꢀreportꢀsubmittedꢀ underꢀCaliforniaꢀGovernmentꢀCodeꢀSectionꢀ53646ꢀthatꢀincludesꢀportfolioꢀcomposition,ꢀaꢀdetailedꢀlistꢀ ofꢀallꢀsecurities,ꢀperformanceꢀcomparedꢀtoꢀtheꢀPolicy,ꢀoverallꢀcomplianceꢀwithꢀtheꢀPolicy,ꢀandꢀtheꢀ City’sꢀabilityꢀtoꢀmeetꢀexpenditureꢀrequirementsꢀoverꢀtheꢀnextꢀsixꢀmonths.ꢀ ꢀꢀ Preparedꢀby:ꢀꢀ ꢀ ꢀ ꢀApprovedꢀby:ꢀꢀꢀ ꢀ ꢀ ꢀ ꢀ ꢀ ꢀ ꢀ ꢀ ꢀꢀꢁꢂꢃꢁꢂꢃꢂꢄꢀꢁꢂꢃꢁꢂꢃꢂꢄꢀ _______________________ꢀ ________________ꢀ_______________________ꢀ _________________ꢀ TarunꢀNarayan,ꢀ Mgr.ꢀTreasury,ꢀDebtꢀ&ꢀ Investmentsꢀ DateꢀChristineꢀParas,ꢀ Asst.ꢀDirectorꢀASDꢀ Dateꢀ ꢀꢀꢁꢂꢃꢁꢂꢃꢂꢄꢀꢀꢀꢀꢀ ______________________ꢀ _________________ꢀ LaurenꢀLai,ꢀDateꢀ ChiefꢀFinancialꢀOfficerꢀ ꢀ 1ꢀhttps://www.cityofpaloalto.org/files/assets/public/v/1/administrativeͲservices/investmentͲpolicies/adoptedͲinvestmentͲpolicyͲ1Ͳ39Ͳasd.pdfꢀꢀ ꢀꢁꢂꢃꢄꢅꢆꢇꢈꢉꢇꢊꢋꢌꢁꢍꢋꢈꢎꢀꢏꢈꢐꢑꢐꢒꢓꢔꢕꢒꢖꢀꢑꢕꢒꢖꢕꢐꢔꢕꢖꢐꢗꢉꢉꢖꢓꢒꢓꢘꢒꢙꢑꢀꢗꢙꢚꢑ$WWDFKPHQWꢀ$ City of Palo Alto Administration Svcs. Dept. 250 Hamilton Ave., 4th Floor Palo Alto, CA 94301 City of Palo Alto Activity Report Sorted By Safekeeper July 1, 2024 - July 31, 2024 (650)329-2362 Par Value Par Value Percent Beginning Balance Current Rate Transaction Date Purchases or Deposits Redemptions or Withdrawals Ending BalanceCUSIPInvestment #Issuer of Portfolio Safekeeper: Union Bank of California Negotiable Certificates of Deposits Subtotal and Balance 14,340,000.00 15,500,000.00 160,908,000.00 3,000,000.00 14,340,000.00 15,500,000.00 160,908,000.00 3,000,000.00 Corporate Medium Term Bonds Subtotal and Balance Federal Agency Bonds Subtotal and Balance Treasury Securities (Notes) Subtotal and Balance Municipal Bonds 917542QR6 64985HWS2 917542QV7 1731 MUN 2007 MUN 2306 MUN State of Utah 4.554 2.120 3.539 07/01/2024 07/15/2024 07/01/2024 0.00 165,000.00 450,000.00 403,459.05 New York St Envrnmntl Facs State of Utah 0.00 0.00 Subtotal and Balance 113,496,292.18 0.00 1,018,459.05 112,477,833.13 Supranationals (World Bank) Bonds Subtotal and Balance Safekeeper Subtotal 26,500,000.00 333,744,292.18 26,500,000.00 332,725,833.1356.362%0.00 1,018,459.05 Safekeeper: U.S. Bank Negotiable Certificates of Deposits 75102EAC2 227563CF8 87164DVY3 2798 NCD 2875 NCD 2886 NCD Raiz Federal Credit Union Cross River Bank 4.900 5.100 5.000 07/25/2024 07/14/2024 07/29/2024 0.00 0.00 0.00 249,000.00 249,000.00 249,000.00Synovus Bank Subtotal and Balance 32,619,000.00 0.00 747,000.00 31,872,000.00 Portfolio CPA AP Run Date: 08/13/2024 - 09:51 DA (PRF_DA) 7.3.11 Report Ver. 7.3.11 ꢀꢁꢂꢃꢄꢅꢆꢇꢈꢉꢇꢊꢋꢌꢁꢍꢋꢈꢎꢀꢏꢈꢐꢑꢐꢒꢓꢔꢕꢒꢖꢀꢑꢕꢒꢖꢕꢐꢔꢕꢖꢐꢗꢉꢉꢖꢓꢒꢓꢘꢒꢙꢑꢀꢗꢙꢚꢑ City of Palo Alto Activity Report Page 2 July 1, 2024 - July 31, 2024 Par Value Par Value Percent Beginning Balance Current Rate Transaction Date Purchases or Deposits Redemptions or Withdrawals Ending BalanceCUSIPInvestment #Issuer of Portfolio Safekeeper: U.S. Bank Corporate Medium Term Bonds Subtotal and Balance 12,530,000.00 35,204,594.59 2,500,000.00 12,530,000.00 35,204,594.59 2,500,000.00 Federal Agency Bonds Subtotal and Balance Treasury Securities (Notes) Subtotal and Balance Municipal Bonds 797669ZJ0 2572 MUN SF Bay Area Rapid Transit Dist 1.971 07/01/2024 0.00 500,000.00 Subtotal and Balance 135,500,908.30 0.00 500,000.00 135,000,908.30 Supranationals (World Bank) Bonds Subtotal and Balance Safekeeper Subtotal 23,500,000.00 241,854,502.89 23,500,000.00 240,607,502.8940.758%0.00 1,247,000.00 Safekeeper: Not applicable - Cash/Managed Pool Accounts LAIF & Fidelity Cash Accounts SYS158 SYS159 158 159 Fidelity Investments 5.170 4.530 6,056,044.97 15,396,435.16 35,100,000.00 34,700,000.00Local Agency Investment Fund Subtotal and Balance Safekeeper Subtotal Total 100.000% 65,348,470.30 65,348,470.30 640,947,265.37 21,452,480.13 21,452,480.13 21,452,480.13 69,800,000.00 69,800,000.00 72,065,459.05 17,000,950.43 17,000,950.43 590,334,286.45 2.880% Portfolio CPA AP Run Date: 08/13/2024 - 09:51 DA (PRF_DA) 7.3.11 Report Ver. 7.3.11