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Home My WebLink AboutStaff Report 2501-4012CITY OF PALO ALTO CITY COUNCIL Monday, April 21, 2025 Council Chambers & Hybrid 5:30 PM Agenda Item 14.City of Palo Alto Monthly Investment Activity Report for March 2025 (Unaudited) 6 3 2 2 City Council Staff Report Report Type: INFORMATION REPORTS Lead Department: Administrative Services Meeting Date: April 21, 2025 Report #:2501-4012 TITLE City of Palo Alto Monthly Investment Activity Report for March 2025 (Unaudited) ATTACHMENTS Attachment A: March 2025 Monthly Investment Activity Report APPROVED BY: Lauren Lai, Administrative Services Director CITY OF PALO ALTO MONTHLY INVESTMENT ACTIVITY REPORT March 2025 (Unaudited) TO: Honorable City Council Report Posted at the City’s Website: www.cityofpaloalto.org/investmentreporting Above Link on Council Agenda of April 21, 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: 9D8FE58E-F6E2-4870-87EF-88FAF7830AA2 4/6/2025 4/7/2025 4/7/2025 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 March 1, 2025 - March 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 Poppy Bank2285 NCD 0.001.100 03/18/2025 249,000.0073319FAF6 Crescent Bank & Trust2296 NCD 0.001.100 03/20/2025 248,000.00225645DN7 San Francisco Credit Union2297 NCD 0.001.100 03/27/2025 249,000.0079772FAF3 Aneca Federal Credit Union2298 NCD 0.001.100 03/20/2025 249,000.00034577AN6 Central State Bank IOWA2324 NCD 0.001.000 03/27/2025 249,000.0015523RCP9 USAlliance Federal Credit Unio2325 NCD 0.001.150 05/05/2020 249,000.0090352RAU9 Wells Fargo Bank2843 NCD 0.005.250 03/17/2025 249,000.00949764AF1 Morgan Stanley Bank NA2849 NCD 0.005.250 03/24/2025 249,000.0061768EQV8 Pacific Alliance Bank2852 NCD 0.005.150 03/27/2025 249,000.00693963AE0 U.S. Bank2998 NCD 0.005.250 03/06/2025 249,000.0090355UCX1 Farmer State Bank3008 NCD 0.005.100 03/15/2025 249,000.0031034RKY0 Citizens National Bank3091 NCD 250,000.004.550 03/13/2025 0.0018977NAE0 First Southwest Bank3092 NCD 250,000.004.550 03/13/2025 0.0033647BAG0 Central Bank3093 NCD 225,000.004.550 03/13/2025 0.00152577CT7 Bippus State Bank3094 NCD 250,000.004.550 03/13/2025 0.0009070LAY5 CFG Bank3106 NCD 250,000.004.600 03/31/2025 0.0012527CKK7 Truist Bank3107 NCD 250,000.004.450 03/28/2025 0.00897926BE0 2,738,000.0032,074,000.00 30,811,000.00Subtotal and Balance 1,475,000.00 Corporate Medium Term Bonds Apple, Inc.3090 MTN 1,000,000.001.200 03/13/2025 0.00037833EC0 Microsoft Corporation3104 MTN 1,900,000.003.300 03/27/2025 0.00594918BY9 0.0033,400,000.00 36,300,000.00Subtotal and Balance 2,900,000.00 Federal Agency Bonds Federal Farm Credit Bank .3097 Call 1,500,000.005.250 03/13/2025 0.003133ER5R8 Federal Farm Credit Bank .3099 1,620,000.004.125 03/20/2025 0.003133EN7L8 Federal Farm Credit Bank .3105 1,500,000.004.000 03/27/2025 0.003133EPGG4 Federal Home Loan Bank3111 Call 1,500,000.005.600 03/27/2025 0.003130B44G3 Federal Farm Credit Bank .3113 Call 1,985,000.004.900 03/27/2025 0.003133ETAF4 0.00192,044,000.00 200,149,000.00Subtotal and Balance 8,105,000.00 Portfolio CPA AP Run Date: 04/06/2025 - 21:05 DA (PRF_DA) 7.3.11 Report Ver. 7.3.11 Attachment ADocusign Envelope ID: 9D8FE58E-F6E2-4870-87EF-88FAF7830AA2 Current Rate Transaction Date BalanceBeginning Balance Ending Par Value Page 2 Percent of Portfolio Par Value March 1, 2025 - March 31, 2025 Activity Report City of Palo Alto CUSIP Investment #Issuer Purchases or Deposits Redemptions or Withdrawals Safekeeper: U.S. Bank Treasury Securities (Notes) 4,500,000.00 4,500,000.00Subtotal and Balance Municipal Bonds San Jose Evergreen Cmnty Colll3095 MUN 315,000.002.840 03/13/2025 0.00798189QG4 Santa Monica Cmnty College Dis3098 MUN 1,500,000.003.942 03/20/2025 0.00802385RJ5 CA ST Dept of WTR Resources3100 MUN 310,000.002.082 03/20/2025 0.0013067WTC6 Sequoia Union High School Dist3102 MUN 1,125,000.002.463 03/21/2025 0.00817409P33 Santa Monica Cmnty College Dis3103 MUN 1,500,000.003.942 03/27/2025 0.00802385RJ5 State of Hawaii3109 MUN 715,000.002.422 03/27/2025 0.00419792B96 Desert Community Clg Dist3112 MUN 775,000.002.308 03/27/2025 0.00250375LW0 Santa Monica-Malibu USD3114 MUN 750,000.001.914 03/27/2025 0.00802498ZH1 0.00236,503,741.43 243,493,741.43Subtotal and Balance 6,990,000.00 Supranationals (World Bank) Bonds Intl Bk Recon & Development2673 IBRD 0.002.050 03/17/2025 1,000,000.0045906M2Z3 Intl Bk Recon & Development3003 IBRD 0.005.500 03/05/2025 1,500,000.0045906M5A5 Intl Bk Recon & Development3071 IBRD 0.005.500 03/05/2025 1,500,000.0045906M5A5 Intl Bk Recon & Development3089 IBRD 1,500,000.003.500 03/13/2025 0.00459058KT9 Intl Bk Recon & Development3096 IBRD 1,421,000.003.875 03/13/2025 0.00459058KQ5 Intl Bk Recon & Development3101 IBRD 1,500,000.004.125 03/20/2025 0.00459058LR2 Intl Bk Recon & Development3110 IBRD 1,500,000.003.875 03/27/2025 0.00459058LN1 4,000,000.0060,250,000.00 62,171,000.00Subtotal and Balance 5,921,000.00 25,391,000.00 6,738,000.00558,771,741.43 577,424,741.4387.945%Safekeeper Subtotal Safekeeper: Not applicable - Cash/Managed Pool Accounts LAIF & Fidelity Cash Accounts Fidelity Investments158 15,968,136.264.200 13,015,000.00SYS158 Local Agency Investment Fund159 5,600,000.004.310 12,700,000.00SYS159 25,715,000.0083,296,542.58 79,149,678.84Subtotal and Balance 21,568,136.26 21,568,136.26 25,715,000.0083,296,542.58 79,149,678.8412.055%Safekeeper Subtotal 642,068,284.01 656,574,420.27Total32,453,000.0046,959,136.26100.000% Portfolio CPA AP Run Date: 04/06/2025 - 21:05 DA (PRF_DA) 7.3.11 Report Ver. 7.3.11 Docusign Envelope ID: 9D8FE58E-F6E2-4870-87EF-88FAF7830AA2