HomeMy WebLinkAboutStaff Report 2501-4010CITY OF PALO ALTO
CITY COUNCIL
Special Meeting
Monday, February 24, 2025
Council Chambers & Hybrid
5:30 PM
Agenda Item
11.City of Palo Alto Monthly Investment Report January 2025 (Unaudited)
City Council
Staff Report
Report Type: INFORMATION REPORTS
Lead Department: Administrative Services
Meeting Date: February 24, 2025
Report #:2501-4010
TITLE
City of Palo Alto Monthly Investment Report January 2025 (Unaudited)
ATTACHMENTS
Attachment A: January 2025 Monthly Investment Activity Report
APPROVED BY:
Lauren Lai
CITY OF PALO ALTO
MONTHLY INVESTMENT ACTIVITY REPORT
January 2025 (Unaudited)
TO: Honorable City Council
Report Posted at the City’s Website: www.cityofpaloalto.org/investmentreporting
Above Link on Council Agenda of February 24, 2025
______________________________________________________________________
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: 2D0B3DB4-4197-4F21-9650-1C0E98DB32EB
2/2/2025 2/3/2025
2/6/2025
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
January 1, 2025 - January 31, 2025
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
Enerbank USA2215 NCD 0.001.800 01/29/2025 245,000.0029278TMR8
Technology Credit Union2797 NCD 0.005.100 01/19/2025 249,000.0087868YAH6
A+ Federal Creit Union2806 NCD 0.004.700 01/27/2025 249,000.0000224TAL0
City National Bank2809 NCD 0.004.500 01/27/2025 249,000.00178180GV1
First Source Federal Cr Union2940 NCD 0.005.050 01/29/2025 249,000.0033651FAL3
Truxton Trust Co Bank2966 NCD 0.005.000 01/23/2025 249,000.0089846HCR2
1,490,000.0037,544,000.00 36,054,000.00Subtotal and Balance 0.00
Corporate Medium Term Bonds
Apple, Inc.2401 MTN 0.002.750 01/13/2025 1,500,000.00037833DF4
1,500,000.0035,900,000.00 34,400,000.00Subtotal and Balance 0.00
Federal Agency Bonds
192,044,000.00 192,044,000.00Subtotal and Balance
Treasury Securities (Notes)
4,500,000.00 4,500,000.00Subtotal and Balance
Municipal Bonds
State of Rhode Island2192 MUN 0.002.000 01/15/2025 260,000.0076222RYN6
260,000.00240,338,741.43 240,078,741.43Subtotal and Balance 0.00
Supranationals (World Bank) Bonds
60,250,000.00 60,250,000.00Subtotal and Balance
0.00 3,250,000.00570,576,741.43 567,326,741.4389.219%Safekeeper Subtotal
Safekeeper: Not applicable - Cash/Managed Pool Accounts
LAIF & Fidelity Cash Accounts
Fidelity Investments158 48,555.554.270 500,000.00SYS158
Local Agency Investment Fund159 27,640,475.424.350 25,300,000.00SYS159
25,800,000.0066,664,552.10 68,553,583.07Subtotal and Balance 27,689,030.97
Portfolio CPA
AP
Run Date: 02/02/2025 - 22:59 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Attachment ADocusign Envelope ID: 2D0B3DB4-4197-4F21-9650-1C0E98DB32EB
Current
Rate
Transaction
Date BalanceBeginning
Balance
Ending
Par Value
Page 2
Percent
of Portfolio
Par Value
January 1, 2025 - January 31, 2025
Activity Report
City of Palo Alto
CUSIP Investment #Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
27,689,030.97 25,800,000.0066,664,552.10 68,553,583.0710.781%Safekeeper Subtotal
637,241,293.53 635,880,324.50Total29,050,000.0027,689,030.97100.000%
Portfolio CPA
AP
Run Date: 02/02/2025 - 22:59 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Docusign Envelope ID: 2D0B3DB4-4197-4F21-9650-1C0E98DB32EB