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Home My WebLink AboutStaff Report 2412-3893CITY OF PALO ALTO CITY COUNCIL Special Meeting Monday, August 11, 2025 Council Chambers & Hybrid 5:30 PM Agenda Item B.City of Palo Alto Monthly Investment Activity Report for May 2025 (Unaudited) City Council Staff Report Report Type: INFORMATION REPORTS Lead Department: Administrative Services Meeting Date: August 11, 2025 Report #:2412-3893 TITLE City of Palo Alto Monthly Investment Activity Report for May 2025 (Unaudited) ATTACHMENTS Attachment A - May 2025 Monthly Investment Activity Report APPROVED BY: Lauren Lai, Administrative Services Director CITY OF PALO ALTO MONTHLY INVESTMENT ACTIVITY REPORT May 2025 (Unaudited) TO: Honorable City Council Report Posted at the City’s Website: www.cityofpaloalto.org/investmentreporting Above Link on Council Agenda of August 4, 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: BD1BBA03-41B6-4333-9B8D-93B80E53B903 6/10/2025 6/10/2025 6/11/2025 City of Palo Alto Activity Report City of Palo Alto Administration Svcs. Dept. 250 Hamilton Ave., 4th Floor Palo Alto, CA 94301 (650)329-2362Sorted By Safekeeper May 1, 2025 - May 31, 2025 Current Rate Transaction Date Balance Beginning 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 Mountain America FD Credit Uni2719 NCD 0.004.850 05/09/2025 249,000.0062384RAR7 Lafayette Federal Credit Union2879 NCD 0.003.100 05/27/2025 249,000.0050625LBG7 Huntington National Bank2891 NCD 0.004.800 05/05/2025 249,000.00446438SB0 MI Bank2960 NCD 0.004.750 05/01/2025 249,000.0059319LAS4 Intracoastal Bank2995 NCD 0.005.000 05/06/2025 249,000.0046117YAC2 1,245,000.0030,565,000.00 29,320,000.00Subtotal and Balance 0.00 Corporate Medium Term Bonds Apple, Inc.3129 MTN 550,000.003.350 05/01/2025 0.00037833CJ7 0.0031,300,000.00 31,850,000.00Subtotal and Balance 550,000.00 Federal Agency Bonds Federal National Mortgage Asso3056 Call 0.005.100 05/10/2025 1,500,000.003135GAWG2 Federal Home Loan Bank3128 1,660,000.004.375 05/01/2025 0.003130AV5P3 1,500,000.00205,649,000.00 205,809,000.00Subtotal and Balance 1,660,000.00 Treasury Securities (Notes) 4,500,000.00 4,500,000.00Subtotal and Balance Municipal Bonds University of California2077 MUN 0.003.050 05/15/2025 1,500,000.0091412GQG3 University of California2095 MUN 0.003.050 05/15/2025 1,000,000.0091412GQG3 San Diego Cnty Wtr Authority2600 MUN 0.000.743 05/01/2025 210,000.00797412DM2 State of Wisconsin 22822 MUN 0.005.700 05/01/2025 305,000.00977100AC0 San Diego Cnty Wtr Authority3024 MUN 0.000.743 05/01/2025 745,000.00797412DM2 3,760,000.00247,273,741.43 243,513,741.43Subtotal and Balance 0.00 Supranationals (World Bank) Bonds Intl Bk Recon & Development3130 IBRD 2,000,000.005.170 05/01/2025 0.0045906M5H0 0.0068,884,000.00 70,884,000.00Subtotal and Balance 2,000,000.00 4,210,000.00 6,505,000.00588,171,741.43 585,876,741.4389.792%Safekeeper Subtotal Portfolio CPA AP Run Date: 06/10/2025 - 05:22 DA (PRF_DA) 7.3.11 Report Ver. 7.3.11 Attachment ADocusign Envelope ID: BD1BBA03-41B6-4333-9B8D-93B80E53B903 Current Rate Transaction Date Balance Beginning Balance Ending Par Value Page 2 Percent of Portfolio Par Value May 1, 2025 - May 31, 2025 Activity Report City of Palo Alto CUSIP Investment #Issuer Purchases or Deposits Redemptions or Withdrawals Safekeeper: Not applicable - Cash/Managed Pool Accounts LAIF & Fidelity Cash Accounts Fidelity Investments158 42,900.324.190 1,500,000.00SYS158 Local Agency Investment Fund159 14,200,000.004.270 11,650,000.00SYS159 13,150,000.0065,514,837.61 66,607,737.93Subtotal and Balance 14,242,900.32 14,242,900.32 13,150,000.0065,514,837.61 66,607,737.9310.208%Safekeeper Subtotal 653,686,579.04 652,484,479.36Total19,655,000.0018,452,900.32100.000% Portfolio CPA AP Run Date: 06/10/2025 - 05:22 DA (PRF_DA) 7.3.11 Report Ver. 7.3.11 Docusign Envelope ID: BD1BBA03-41B6-4333-9B8D-93B80E53B903