HomeMy WebLinkAboutStaff Report 2501-4028CITY OF PALO ALTO
CITY COUNCIL
Monday, September 29, 2025
Council Chambers & Hybrid
5:30 PM
Agenda Item
A.City of Palo Alto Monthly Investment Report August 2025 (Unaudited)
City Council
Staff Report
Report Type: INFORMATION REPORTS
Lead Department: Administrative Services
Meeting Date: September 29, 2025
Report #:2501-4028
TITLE
City of Palo Alto Monthly Investment Report August 2025 (Unaudited)
ATTACHMENTS
Attachment A: August 2025 Monthly Investment Activity Report
APPROVED BY:
Lauren Lai, Administrative Services Director
CITY OF PALO ALTO
MONTHLY INVESTMENT ACTIVITY REPORT
August 2025 (Unaudited)
TO: Honorable City Council
Report Posted at the City’s Website: www.cityofpaloalto.org/investmentreporting
Above Link on Council Agenda of September 29, 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:
_______________________
Jessie Deschamps
Sr. Management Analyst, ASD - Treasury
________________
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: E2B17092-65AE-4D78-A4F6-6B42B5F589B4
9/9/2025 9/9/2025
9/9/2025
City of Palo Alto
Activity Report
City of Palo Alto
Administration Svcs. Dept.
250 Hamilton Ave., 4th FloorPalo Alto, CA 94301
(650)496-5020Sorted By Safekeeper
August 1, 2025 - August 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
First Carolina Bank2389 NCD 0.000.450 08/20/2025 248,000.0031944MBB0
1st Financial Bank2390 NCD 0.000.450 08/19/2025 248,000.0032022RNT0
Ufirst Federal Credit Union2832 NCD 0.004.850 08/25/2025 249,000.00902684AB5
West Town Bank and Trust2855 NCD 0.005.450 08/28/2025 249,000.00956310BM7
Cental Valley Community Bank2945 NCD 0.004.900 09/02/2025 249,000.0015568PAV8
Timberland Bank Hoquaim3020 NCD 0.005.100 08/28/2025 249,000.0088709RBB4
1,492,000.0027,328,000.00 25,836,000.00Subtotal and Balance 0.00
Corporate Medium Term Bonds
Alphabet (Google) Inc.2507 MTN 0.000.450 08/15/2025 200,000.0002079KAH0
200,000.0031,850,000.00 31,650,000.00Subtotal and Balance 0.00
Federal Agency Bonds
Federal Agricultural Mortgage1580 0.004.350 08/04/2025 474,000.0031315PEM7
Federal Agricultural Mortgage2098 0.004.350 08/04/2025 550,000.0031315PEM7
Federal Farm Credit Bank .2391 Call 0.000.570 08/12/2025 1,500,000.003133EL3H5
Federal National Mortgage Asso2392 Call 0.000.625 08/28/2025 1,000,000.003136G4R62
Federal National Mortgage Asso2393 Call 0.000.650 08/27/2025 1,000,000.003136G4S87
Federal National Mortgage Asso2394 Call 0.000.650 08/27/2025 1,500,000.003136G4Q97
Federal Home Loan Bank2395 Call 0.000.600 08/27/2025 1,500,000.003130AJZ36
Fed. Home Loan Mortgage Corp.2396 Call 0.000.625 08/19/2025 1,000,000.003134GWNC6
Federal National Mortgage Asso2397 Call 0.000.625 08/27/2025 1,500,000.003136G4V59
Federal Home Loan Bank2399 Call 0.000.600 08/27/2025 1,500,000.003130AJZ36
Federal Farm Credit Bank .2406 Call 0.000.610 08/25/2025 1,500,000.003133EL4W1
Federal Farm Credit Bank .2408 Call 0.000.610 08/25/2025 1,500,000.003133EL4W1
Federal Home Loan Bank2411 Call 0.000.600 08/27/2025 1,180,000.003130AJZ36
Federal Home Loan Bank2802 Call 0.005.620 08/14/2025 1,500,000.003130AULM4
Federal Home Loan Bank3051 Call 0.005.500 08/25/2025 1,000,000.003130B3AN3
Federal Home Loan Bank3088 Call 0.005.300 08/15/2025 800,000.003130B3HR7
19,004,000.00204,309,000.00 185,305,000.00Subtotal and Balance 0.00
Treasury Securities (Notes)
4,500,000.00 4,500,000.00Subtotal and Balance
Portfolio CPA
AP
Run Date: 09/09/2025 - 13:19 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Docusign Envelope ID: E2B17092-65AE-4D78-A4F6-6B42B5F589B4
Current
Rate
Transaction
Date BalanceBeginning
Balance
Ending
Par Value
Page 2
Percent
of Portfolio
Par Value
August 1, 2025 - August 31, 2025
Activity Report
City of Palo Alto
CUSIP Investment # Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
Safekeeper: U.S. Bank
Municipal Bonds
Burlingame School District1548 MUN 0.006.238 08/01/2025 120,000.00121457EQ4
Fremon Union High School Distr1646 MUN 0.006.080 08/01/2025 145,000.00357172VA0
State of Tennessee1674 MUN 0.002.066 08/01/2025 1,650,000.00880541XX0
State of Tennessee1676 MUN 0.002.066 08/01/2025 700,000.00880541XX0
Orchard School District1910 MUN 0.003.125 08/01/2025 40,000.00685585FD8
Fullerton School District1917 MUN 0.003.040 08/01/2025 750,000.00359819DM8
State of Maryland2184 MUN 0.004.350 08/01/2025 500,000.005741926N5
Marin Community College Dist.2287 MUN 0.005.000 08/01/2025 310,000.0056781RJJ7
Contra Costa Community College2291 MUN 0.001.918 08/01/2025 320,000.00212204JF9
San Jose Unified School Dist.2518 MUN 0.000.558 08/01/2025 1,000,000.00798186N81
Orange Cnty Water District2578 MUN 0.002.095 08/15/2025 315,000.0068442CCY0
State of Maryland2581 MUN 0.004.350 08/01/2025 245,000.005741926N5
State of Oregon2584 MUN 0.000.803 08/01/2025 265,000.0068609TT81
Chabot-Las Positas CCD2589 MUN 0.000.880 08/01/2025 125,000.0015722TJQ5
San Mateo Foster City SCH Dist2591 MUN 0.006.000 08/01/2025 395,000.00799055ME5
Foothill-De Anza Comm Clg Dist2818 MUN 0.000.906 08/01/2025 540,000.00345102PG6
State of Hawaii2820 MUN 0.001.033 08/01/2025 700,000.00419792F92
Chabot-Las Positas CCD2842 MUN 0.000.880 08/01/2025 1,000,000.0015722TJQ5
City of Los Angeles Fin Author2947 MUN 0.007.488 08/01/2025 70,000.0054473ENT7
9,190,000.00233,250,414.12 224,060,414.12Subtotal and Balance 0.00
Supranationals (World Bank) Bonds
70,884,000.00 70,884,000.00Subtotal and Balance
0.00 29,886,000.00572,121,414.12 542,235,414.1295.632%Safekeeper Subtotal
Safekeeper: Not applicable - Cash/Managed Pool Accounts
LAIF & Fidelity Cash Accounts
Fidelity Investments158 7,200,000.004.190 8,300,000.00SYS158
Local Agency Investment Fund159 3,500,000.004.250 8,300,000.00SYS159
16,600,000.0030,664,784.08 24,764,784.08Subtotal and Balance 10,700,000.00
10,700,000.00 16,600,000.0030,664,784.08 24,764,784.084.368%Safekeeper Subtotal
602,786,198.20 567,000,198.20Total46,486,000.0010,700,000.00100.000%
Portfolio CPA
AP
Run Date: 09/09/2025 - 13:19 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Docusign Envelope ID: E2B17092-65AE-4D78-A4F6-6B42B5F589B4