HomeMy WebLinkAboutStaff Report 2412-3851CITY OF PALO ALTO
CITY COUNCIL
Special Meeting
Monday, December 16, 2024
Council Chambers & Hybrid
5:30 PM
Agenda Item
31.City of Palo Alto Monthly Investment Activity Report for November 2024 (Unaudited)
City Council
Staff Report
Report Type: INFORMATION REPORTS
Lead Department: Administrative Services
Meeting Date: December 16, 2024
Report #:2412-3851
TITLE
City of Palo Alto Monthly Investment Activity Report for November 2024 (Unaudited)
ATTACHMENTS
Attachment A: Monthly Investment Activity Report - November 2024
APPROVED BY:
Lauren Lai
CITY OF PALO ALTO
MONTHLY INVESTMENT ACTIVITY REPORT
November 2024 (Unaudited)
TO: Honorable City Council
Report Posted at the City’s Website: www.cityofpaloalto.org/investmentreporting
Above Link on Council Agenda of December 16, 2024
______________________________________________________________________
The City’s Investment Policy1 (Policy) and California Government Code Section 53607 requires that a
report of transactions (investments, reinvestment, sold, and exchanged securities) be made available
to the Council on a monthly basis.
The attached list of transactions (Attachment A) also includes, though not required by the Policy or
the government code, security maturities and cash movement activity in the City’s two liquid
operating cash pool accounts (Local Agency Investment Fund or LAIF and Fidelity accounts). Liquid
cash are available on a daily basis but are invested by the two entities in a range of securities (e.g.,
treasuries, federal agencies, commercial paper, corporate bonds, time deposits, loans, and certificate
of deposits/bank notes).
This reporting requirement is separate and distinct from the quarterly investment report submitted
under California Government Code Section 53646 that includes portfolio composition, a detailed list
of all securities, performance compared to the Policy, overall compliance with the Policy, and the
City’s ability to meet expenditure requirements over the next six months.
Prepared by:
_______________________
Tarun Narayan
Mgr. Treasury, Debt &
Investments
________________
Date
Approved by:
_______________________
Christine Paras
Asst. Director ASD
_________________
Date
______________________
Lauren Lai
Chief Financial Officer
_________________
Date
1 https://www.cityofpaloalto.org/files/assets/public/v/1/administrative‐services/investment‐policies/adopted‐investment‐policy‐1‐39‐asd.pdf
Docusign Envelope ID: 089B2BDC-7BFB-4BAD-BD54-166ED5F329F5
12/1/2024 12/2/2024
12/3/2024
City of Palo Alto
Activity Report
City of Palo Alto
Administration Svcs. Dept.
250 Hamilton Ave., 4th FloorPalo Alto, CA 94301
(650)329-2362Sorted By Safekeeper
November 1, 2024 - November 30, 2024
Current
Rate
Transaction
Date BalanceBeginning
Balance
Ending
Par Value
Percent
of Portfolio
Par Value
CUSIP Investment # Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
Safekeeper: U.S. Bank
Negotiable Certificates of Deposits
Maine Savings Credit Union2144 NCD 0.001.900 11/08/2024 245,000.00560507AN5
Third Federal Savings and Loan2157 NCD 0.001.950 11/25/2024 245,000.0088413QCK2
Kembra Financial Credit Union2731 NCD 0.005.150 11/25/2024 249,000.0048836LAV4
The District Fed Cr Union2778 NCD 0.005.150 11/22/2024 249,000.0088340AAA9
Insight Credit Union2836 NCD 0.005.100 11/27/2024 249,000.0045791JAC0
Bank of Baroda2898 NCD 0.005.050 11/15/2024 249,000.0006063HQL0
Centris Fed Credit Union Bank2903 NCD 0.005.150 11/25/2024 249,000.0015643VAA0
BANESCO USA Bank2959 NCD 0.004.950 11/14/2024 249,000.0005988ACT7
Sherwin Williams Emp CU3082 NCD 250,000.004.300 11/06/2024 0.0082436LAA3
Noble Federal Credit Union Bk3083 NCD 250,000.004.500 11/08/2024 0.0065504UAF4
JP Morgan Chase BAnk NA3087 NCD 250,000.004.600 11/01/2024 0.0046657VNZ9
1,984,000.0041,762,000.00 40,528,000.00Subtotal and Balance 750,000.00
Corporate Medium Term Bonds
35,900,000.00 35,900,000.00Subtotal and Balance
Federal Agency Bonds
Federal Agricultural Mortgage2035 0.005.250 11/20/2024 678,000.0031315PCY3
Federal Home Loan Bank2970 Call 0.006.000 11/09/2024 1,000,000.003130AYWY8
Federal Home Loan Bank3081 Call 1,500,000.005.480 11/06/2024 0.003130B3FV0
Federal Home Loan Bank3088 Call 800,000.005.300 11/04/2024 0.003130B3HR7
1,678,000.00192,422,000.00 193,044,000.00Subtotal and Balance 2,300,000.00
Treasury Securities (Notes)
4,500,000.00 4,500,000.00Subtotal and Balance
Municipal Bonds
State of Mississippi2189 MUN 0.004.511 11/01/2024 250,000.006055805V7
State of Colorado HSG & FIN Au3059 MUN 1,500,000.004.850 11/13/2024 0.0019648GSA1
250,000.00240,558,741.43 241,808,741.43Subtotal and Balance 1,500,000.00
Supranationals (World Bank) Bonds
Portfolio CPA
AP
Run Date: 12/02/2024 - 00:51 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Attachment ADocusign Envelope ID: 089B2BDC-7BFB-4BAD-BD54-166ED5F329F5
Current
Rate
Transaction
Date BalanceBeginning
Balance
Ending
Par Value
Page 2
Percent
of Portfolio
Par Value
November 1, 2024 - November 30, 2024
Activity Report
City of Palo Alto
CUSIP Investment #Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
60,250,000.00 60,250,000.00Subtotal and Balance
4,550,000.00 3,912,000.00575,392,741.43 576,030,741.4392.114%Safekeeper Subtotal
Safekeeper: Not applicable - Cash/Managed Pool Accounts
LAIF & Fidelity Cash Accounts
Fidelity Investments158 52,243.134.500 1,000,000.00SYS158
Local Agency Investment Fund159 13,200,000.004.490 10,300,000.00SYS159
11,300,000.0047,360,475.26 49,312,718.39Subtotal and Balance 13,252,243.13
13,252,243.13 11,300,000.0047,360,475.26 49,312,718.397.886%Safekeeper Subtotal
622,753,216.69 625,343,459.82Total15,212,000.0017,802,243.13100.000%
Portfolio CPA
AP
Run Date: 12/02/2024 - 00:51 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Docusign Envelope ID: 089B2BDC-7BFB-4BAD-BD54-166ED5F329F5
Certificate Of Completion
Envelope Id: 089B2BDC7BFB4BADBD54166ED5F329F5 Status: Completed
Subject: Complete with Docusign: 2024 11 (November) Monthly Investment Activity Report.pdf
Source Envelope:
Document Pages: 3 Signatures: 3 Envelope Originator:
Certificate Pages: 2 Initials: 0 Tarun Narayan
AutoNav: Enabled
EnvelopeId Stamping: Enabled
Time Zone: (UTC-08:00) Pacific Time (US & Canada)
250 Hamilton Ave
Palo Alto , CA 94301
tarun.narayan@cityofpaloalto.org
IP Address: 199.33.32.254
Record Tracking
Status: Original
12/1/2024 10:06:31 PM
Holder: Tarun Narayan
tarun.narayan@cityofpaloalto.org
Location: DocuSign
Security Appliance Status: Connected Pool: StateLocal
Storage Appliance Status: Connected Pool: City of Palo Alto Location: DocuSign
Signer Events Signature Timestamp
Tarun Narayan
tarun.narayan@cityofpaloalto.org
Manager of Treasury, Debt & Investment
City of Palo Alto
Security Level: Email, Account Authentication
(None)
Signature Adoption: Pre-selected Style
Using IP Address: 199.33.32.254
Sent: 12/1/2024 10:08:39 PM
Viewed: 12/1/2024 10:08:51 PM
Signed: 12/1/2024 10:09:03 PM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Christine Paras
Christine.Paras@CityofPaloAlto.org
Asst. Director Administrative Services
City of Palo Alto
Security Level: Email, Account Authentication
(None)
Signature Adoption: Uploaded Signature Image
Using IP Address: 174.160.134.173
Sent: 12/1/2024 10:09:05 PM
Viewed: 12/2/2024 12:56:37 PM
Signed: 12/2/2024 12:57:04 PM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Lauren Lai
lauren.lai@cityofpaloalto.org
Director Administrative Services/CFO
COPA
Security Level: Email, Account Authentication
(None)
Signature Adoption: Drawn on Device
Using IP Address: 199.33.32.254
Sent: 12/2/2024 12:57:05 PM
Viewed: 12/3/2024 9:39:05 AM
Signed: 12/3/2024 9:47:24 AM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
In Person Signer Events Signature Timestamp
Editor Delivery Events Status Timestamp
Agent Delivery Events Status Timestamp
Intermediary Delivery Events Status Timestamp
Certified Delivery Events Status Timestamp
Carbon Copy Events Status Timestamp
Alyssa Ching
Alyssa.Ching@CityofPaloAlto.org
Administrative Assistant
Security Level: Email, Account Authentication
(None)
Sent: 12/3/2024 9:47:25 AM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Josh Martinez
josh.martinez@cityofpaloalto.org
Administrative Associate III
City of Palo Alto
Security Level: Email, Account Authentication
(None)
Sent: 12/3/2024 9:47:26 AM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Witness Events Signature Timestamp
Notary Events Signature Timestamp
Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 12/1/2024 10:08:39 PM
Certified Delivered Security Checked 12/3/2024 9:39:05 AM
Signing Complete Security Checked 12/3/2024 9:47:24 AM
Completed Security Checked 12/3/2024 9:47:26 AM
Payment Events Status Timestamps