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2020 City Treasurer - Investment Summary Report
tih'�'12oV�D C- o-1 n (PET02S8Af—A_0EEAJr) City of Huntington Beach ems, File #: 20-1783 MEETING DATE: 8/3/2020 REQUEST FOR CITY COUNCIL ACTION SUBMITTED TO: Honorable Mayor and City Council Members SUBMITTED BY: Oliver Chi, City Manager PREPARED BY: Alisa Backstrom, City Treasurer Subject: Receive and File the City Treasurer's June 2020 Quarterly Investment Summary Report Statement of Issue: Receive and File the City Treasurer's Quarterly Investment Report for June 2020, pursuant to Section 17.0 of the Investment Policy of the City of Huntington Beach. Financial Impact: Not Applicable Recommended Action: Receive and File the City Treasurer's Quarterly Investment Report for June 2020, pursuant to Section 17.0 of the Investment Policy of the City of Huntington Beach. Alternative Action(s): Deny or Critique Quarterly Report Analysis: Not Applicable Environmental Status: Not Applicable Strategic Plan Goal: Strengthen long-term financial and economic sustainability Attachment(s): 1 . Treasurer's Quarterly Investment Report for June 2020 City of Huntington Beach Page 1 of 1 Printed on 7/30/2020 powered*LegistarTI ✓�uN irvs '•9 n �UUtdTY�P��i City ofHuntingtonBeach Quarterly Investment Report June 2020 .r Yi Prepared • Alisa Backstrom, • ColinCity Treasurer • AssociateTreasury PORTFOLIO SUMMARY AS OF: June 30, 2020 Investment Type $ in 000's Market Value Book Value % of Portfolio Federal Agency Issues $ 83,489 $ 81,267 29.3% Local Agency Investment Fund (LAIF) $ 74,191 $ 74,191 26.7% Treasury Securities $ 8,372 $ 7,975 2.9% Medium Term Notes $ 20,866 $ 20,339 7.3% Corporate Bonds $ 55,669 $ 53,950 19.4% OC Investment Pool $ 40,000 40,000 14.4% TOTAL $ 282,587 $ 277,722 100.0% As of June 30, 2020, the market value of the portfolio was greater than the book value of the portfolio at $282.6 million versus $277.7 million, respectively. This was due to the overall decrease in market interest rates over the past months, which served to increase the prices (value) of some of the existing securities in the portfolio purchased prior to the downturn in rates. In June, an investment of $40 million was made into the Orange County Investment Pool. This pool is maintained for the County and other non-County entities for the purpose of benefiting from economies of scale through pooled investment activities and is authorized by Government Code Section 27130. The Orange County pooled funds are monitored on a daily basis by the staff of the Accounting/Compliance unit of the County's Treasury Division. The Auditor Controller's Internal Audit Division also monitors the portfolio monthly and provides a quarterly report, as well as an annual audit of the Orange County pooled funds. The County Treasurer also contracts with independent outside auditors who conduct a review of the Investment portfolio as required by Sections 27130 through 27137 of the Government Code and provisions made by the County's Investment Policy. For additional information on the Orange County Investment Pool, please go to: https://www.ttc.ocgov.com/investments. Currently, funds within the City portfolio are invested in federal agency securities, corporate bonds, the Inter-American Development Bank ("IADB"), the International Bank for Reconstruction and Development ("IBRD"), U.S. Treasury Securities, the State of California's pooled account (Local Agency Investment Fund "LAIF"), and the Orange County Investment Pool "OCIP". Only the investment types allowed under California Government Code Section 56301 are utilized. 41 PORTFOLIO BREAKOUT BY TYPE - BOOK VALUE % of Total Portfolio OC Investment Pool Federal Agencies Corporate Bonds Medium Term Notes Treasury Securities Local Agency Investment Fund As is typical, the largest holding by security type at month-end was federal agencies at approximately 29% of the total overall portfolio. This was followed by funds in LAIF at 27% of the total portfolio. Due to the decrease in market interest rates, there have been securities that have been called within the portfolio. This has resulted in an increase in the cash portion of the portfolio. As rates within the LAIF and OC Pool account have moved down more slowly than the market overall, such additional cash has currently been maintained in these accounts to obtain a higher yield while still maintaining safety and liquidity. 42 PORTFOLIO EARNINGS AS OF: June 30, 2020 Total Earnings Month: June % Chg Fiscal YTD % Chg Current Year $ 385,980 4-21% $ 5,079,017 'q 11% Current Budget $ 300,000 $ 3,600,000 Last Year Actual $ 485,747 $ 4,574,937 Average Daily Balance $ 268,106,207 $ 239,856,896 Effective Rate of Return 1.75% 2.11% Benchmark* 1.17% n/a *12-month moving average of interpolated 1.5-year treasury Earnings for the month of June 2020 were $385,980, a decrease of 21% from the same month in the prior year. This was due to the sharp downturn in interest rates that occurred over the first half of 2020. Full fiscal year earnings of $5,079,017 were up from the previous fiscal year by 11%. While the first half of the fiscal year (June-December, 2019) saw increasing interest rates, it was to be expected that we have seen an overall decrease in earnings and yield as bonds mature or are called and funds must be invested at the current lower rates. The effective rate of return for the month of June was 1.75%, with a fiscal year-to-date return of 2.11%. As the Federal Reserve had decreased interest rates, the benchmark rate fell accordingly. The benchmark of the 12-month moving average of the interpolated 1 .5-year U.S. Treasury was 1.17% at the end of June. PORTFOLIO ACTIVITY: MONTH MONTHLY ACTIVITY: June 2020 Investment Type Purchases/ Calls/Maturities/ $ in 000's Deposits Withdrawals Federal Agency Issues $ - $ 13,000 Local Agency Investment Fund (LAIF)* $ - $ - Treasury Securities $ - $ 15,000 Medium Term Notes $ - $ 7,000 Corporate Bonds $ - $ - OC Investment Pool $ 40,000 - TOTAL $ 40,000 $ 35,000 *Includes Interest Income 43 PORTFOLIO ACTIVITY: QUARTER QUARTERLY ACTIVITY: April 1, 2020 - June 30, 2020 Investment Type Purchases/ Calls/Maturities) $ in 000's Deposits Withdrawals Federal Agency Issues $ 22,050 $ 23,000 Local Agency Investment Fund (LAIF)* $ 17,259 $ - Treasury Securities $ - $ 15,000 Medium Term Notes $ 6,000 $ 7,000 Corporate Bonds $ 13,024 $ 9,000 OC Investment Pool 40,000 - TOTAL $ 98,333 $ 54,000 *Includes Interest Income COMPLIANCE The portfolio is in conformity with all relevant State regulations and the City's Investment Policy statement as approved by the City Council on February 3, 2020. The investment program herein shown provides sufficient cash flow liquidity to meet the next six months' obligations. MAXIMUM SPECIFIED INVESTMENT TYPE MAXIMUM % OF PORTFOLIO/ MINIMUM QUALITY IN MATURITY MAXIMUM PER REQUIREMENTS COMPLIANCE ISSUER Commercial Paper 270 days 25%/10% Al, "A" Rating YES State Obligations-- 5 years None/10% "A" Rating YES CA And Others U.S.Treasury 5 years None None YES Obligations U.S.Government A enc Obligations 5 years None None YES IBRD, IFC, IADB 5 years 10% "AA" Rating YES Corporate Notes 5 years 30%/10% "A" Rating YES Local Agency Investment Fund N/A Up to $65,000,000 None LAIF YES Maximim Maturities I No more than 50%of portfolio maturing over 4 years. YES SUPPLEMENTAL INFORMATION ADDITIONAL ACCOUNT BALANCES: Ending Balance Market Values: 3-31-20 Total Deferred Compensation Plan Balances $138,417,308 Cal PERS Retiree Medical Trust Account $27,689,747 US Bank Supplemental Pension Trust Account $51,457,199 PARS Post Employment Benefits 115 Trust Account $6,678,436 Bond Reserve Accounts $10,614,883 (Due to delay in statement receipt,amounts are from previous quarter end) 44 ECONOMIC AND MARKET OVERVIEW MARKET SUMMARY: APRIL 2020 - JUNE 2020 Fed Funds 2-Yr. 10-Yr. As of: Rate Treasury Treasury S&P 500 DJIA 4/30/2020 0.00- 0.25% 0.20% 0.64% $ 2,912.43 $ 24,345.72 5/29/2020 0.00- 0.25% 0.16% 0.65% $ 3,044.31 $ 25,383.11 6/30/2020 0.00- 0.25% 0.16% 0.66% 3,100.29 25,812.88 May-Jun% Change none none 1.54% 1.84% 1.66% The Federal Open Market Committee (FOMC) met in June to discuss the current state of the economy and to examine potential future interest rate adjustments. They concluded that the ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term. Additionally, they determined that it poses considerable risks to the economic outlook over the medium term. They stated, "The Committee will continue to monitor the implications of incoming information for the economic outlook, including information related to public health, as well as global developments and muted inflation pressures, and will use its tools and act as appropriate to support the economy." Fixed Income I Equity Markets: The yield on the 10-year U.S. Treasury finished the quarter at 0.66%, down from 0.70% from the end of the previous quarter, for a -5.71% decrease quarter- over-quarter. The S&P 500 and DOW increased by 19.95% and 17.77% respectively, over the same period. Employment: Total nonfarm payroll employment rose by 4.8 million in June, and the unemployment rate declined by 2.2 percentage points to 11.1 percent. 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M ([) M (O M ti r OD co C) (t) co N N m00 LO O) IT 00 N N M L L r O U O) (D n (D ',- N m (D M (C) Cl) } U N LL t- O t- 0 00 c) O O O O O O O r 00 O LO to h CD t I m M (O O O � V tl O o O O O O O O O (7) 0) Q; U� a d' t+ (D E 1+ m mO t` ti in r C) 0 0 0 O O CD co M N u7 M n V) w 'Q O (n M oo (A O) (n Oo LO (O h- w wa) N Co E C ti W O) Cl O M f` (n M O) Ci Cl O M w 1` N mO) M Nr t- W (n LO 00 00 M d' w 0 N C r M M N ~ N O N N C to C O M E 'i M _G CL M 'Q Q _ .O ... Q O � � O 4) tt d C a a u 0 � O a � O a m O a N O v t� d a m rn a a = tm a a a) c rn c rn c rn70 ( o o in 0 00 m 3 o ` � a od H a 0) a) E 0 s En om a a E J m d C O 0 C (n E� y amL O C J C C , ` C c En > w tYl a w c 0) c w c M a W a o E ( c m W a O C m W c N m w r R m m m 1° w °' m is is y (v .� w @ V w y y a: E U 3 in a) U chi N y a) aai w p 2 2 2 c 3 U a] c U N 2 c E N = o U a a) N a m Q a a� ° (o c 'E- ►- �+ C c c a) @ s a) C c c a) rn a) C c W ar U' O a s a a U rn (D -o a s a U Y aa) a s w CL tj 2 2 2 Q o o 2 2 2 -0 -0d 0 2 2 a O (n Q Q Q a; t- N Q Q Q (D 2 U 6 U Q c Q U V N (A to N U) U) N U Q to f0 a) (D W N tp 0 V G a J -j Q Q a C a J J Q Q V C a 0 v 0 0 N a 0 ai m O c G= �oa�y%%VESr,��� State of California Pooled Money Investment Account ri o dti Market Valuation 4/30/2020 �ry'(lpU101wy CarryingCost Plus �$ rr ,; wg try " �y scr p#ionx ,I� n i.Mt Accrued Interest i'urch �pii�� �„ .fair Uatue',I,"a i �, 1 ccr40 111lnteres# United States Treasury: Bills $ 19,680,040,261.74 $ 19,841,623,000.00 NA Notes $ 31,918,133,810.64 $ 32,436,121,500.00 $ 148,732,989.50 Federal Agency- SBA $ 506,664,704.51 $ 501,718,769.36 $ 848,868.15 MBS-REMICs $ 17,624,762.99 $ 18,623,075.27 $ 82,224.61 Debentures $ 2,106,975,049.97 $ 2,133,025,380.00 $ 10,894,669.16 Debentures FIR $ - $ - $ - Debentures CL $ 825,000,000.00 $ 829,246,500.00 $ 4,852,832.50 Discount Notes $ 16,930,644,743.01 $ 17,020,172,000.00 NA Su ranational Debentures $ 714,280,614.68 $ 720,786,550.00 $ 1,954,506.25 Su ranational Debentures FIR $ 200,158,861.65 $ 200,088,322.35 $ 119,477.87 CDs and YCDs FR $ 300,000,000.00 $ 299,897,000.00 $ 610,064.42 Bank Notes $ 300,000,000.00 $ 300,448,427.54 $ 2,359,138.88 CDs and YCDs $ 14,100,000,000.00 $ 14,114,754,656.45 $ 52,157,861.06 Commercial Paper $ 9,976,309,769.38 $ 10,014,318,620.63 NA Corporate: Bonds FIR $ - $ - $ - Bonds $ - $ - $ - Repurchase Agreements $ - $ - $ - Reverse-Re urchase $ - $ - $ - Time Deposits $ 5,431,990,000.00 $ 5,431,990,000.00 NA AB 55&GF Loans $ 550,576,000.00 $ 550,576,000.00 NA TOTAL $ 103,558,398,578.57 1 $ 104,413,389,801.60 $ 222,612,632.40 Fair Value Including Accrued Interest $ 104,636,002,434.00 Repurchase Agreements, Time Deposits, AB 55&General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value(carrying cost). 54 Statement of Cash Receipts and Disbursements and Summary of Cash by Fund Finance Department r April 2020 Cash Receipts and Disbursements March 2020 April 2020 Receipts General Fund Property Tax $ 4,731,926 $ 21,591,200 Local Sales Tax 2,691,922 2,662,397 Public Safety Sales Tax 282,654 181,599 Transient Occupancy Tax(TOT) 937,250 190,309 Utility Users Tax(UUT) 1,611,975 1,554,545 Other Revenue 5,277,310 4,159,932 Total General Fund Revenue 15,533,037 30,339,982 Total All Other Funds Revenue 15,878,858 23,007,308 Total Receipts $ 31,411,896 $ 53,347,290 Disbursements General Fund Personal Services (10,126,612) (9,809,367) Operating Expenses (2,796,499) (5,046,015) Capital Expenditures (17,814) Non-Operating Expenses (155,828) (4,208) Total General Fund Disbursements (13,096,752) (14,859,591) Total All Other Funds Disbursements (14,765,684) (12,514,391) Total Disbursements (27,862,436) (27,373,981) Net Change in Cash Flow $ 3,549,460 $ 26,973,309 Summary of Cash by Fund March 2020 April 2020 General Fund 66,111,700 $ 81,592,091 General Fund Other 4,088,642 4,068,181 Capital Projects Funds 23,027,949 28,347,088 Debt Service Funds 3,779,195 3,779,195 Enterprise Funds 82,061,127 83,654,302 Trust and Agency Funds 14,143,956 15,672,003 Internal Service Funds 28,704,696 28,521,980 Special Revenue Funds 43,276,643 45,532,378 General Ledger Cash Balances $ 265,193,909 $ 291,167,218 * Total cash will differ from investment portfolio total due to outstanding checks and/or other timing differences. Note: Above information was obtained from the City's accounting system records.The above information includes receipts from maturing investments and payments for purchased investments in the city investment portfolio.This statement is prepared in compliance with the City's Charter. 55 w c 0 0 U > (C) con N rn N 0 .0 Q cl to co c N �• r r N r CN m of V _p O a�>i0 p 0 M Q 'a � o mOo rn C; o a � N C NO '> w O 7 �0 V MN a N Q M a ti ti M N co o tT r N r tv N 3 L_, W 23 U M N a) Y c co �0. 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CD r- O l5 'O O N 0) c .2 � U N C 7 m u N ff c ` U) O 0 a a) w : E : v a) (D 0) Q v a) a) m c R F- y C c N fl C C C N O 0) 0) = c W E a p' m s w c .. eel_ N U 7 tU u 0 N a U Y 0) 'O 0) Gy) 0 0 2 20 2 2 o N o o u F N o v v d U y u u S Q U Q Q Q Q Q Q Q Q V O N N N 7 7 CA N y N toll 7 7 w N N N p 7 0 N •O'O t6 7 q) y a 'o W 7 N O O O V C a J J Q < Q Q U C a J F- F- N 0 c 0 0 ry P 0 O Ol t0 C 7 ,%VEST State of California Pooled Money Investment Account y Market Valuation 5/31/2020 �'•uauio��' dia !�nln ' '� tl� I ! - ?d�� 11� ';iti Fair Ualuei�llli� Aceruedlnfetes# United States Treasury: Bills $ 20,700,770,230.56 $ 20,838,074,000.00 NA Notes $ 31,517,512,325.84 $ 31,984,202,000.00 $ 169,925,993.50 Federal Agency: SBA $ 497,967,396.25 $ 493,680,405.65 $ 834,411.79 MBS-REMICs $ 17,207,877.62 $ 18,166,556.09 $ 80,178.10 Debentures $ 1,907,005,176.05 $ 1,930,978,660.00 $ 10,209,866.63 Debentures FR $ - $ - $ Debentures CL $ 825,000,000.00 $ 828,371,250.00 $ 5,518,527.25 Discount Notes $ 16,852,900,256.92 $ 16,917,740,250.00 NA Su ranational Debentures $ 664,284,929.51 $ 670,141,600.00 $ 2,764,083.75 Su ranational Debentures FR $ 200,158,861.65 $ 200,261,719.09 $ 316,333.88 CDs and YCDs FR $ 300,000,000.00 $ 300,100,000.00 $ 443,826.28 Bank Notes $ 200,000,000.00 $ 200,310,867.14 $ 1,607,055.56 CDs and YCDs $ 12,000,000,000.00 $ 12,010,901,278.27 $ 46,743,638.92 Commercial Paper $ 7,241,889,325.03 $ 7,266,979,210.70 NA Corporate: Bonds FR $ - $ - $ - Bonds $ - $ - $ - Repurchase Agreements $ - $ - $ - Reverse Repurchase $ - $ - $ - Time Deposits $ 5,536,990,000.00 $ 5,536,990,000.00 NA AB 55&GF Loans $ 575,525,000.00 $ 575,525,000.00 NA TOTAL $ 99,037,211,379.43 $ 99,772,422,796.94 $ 238,443,915.66 Fair Value Including Accrued Interest $ 100,010,866,712.60 Repurchase Agreements,Time Deposits, AB 55&General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 63 Statement of Cash Receipts and Disbursements and ' Summary of Cash by Fund Finance Department May 2020 Cash Receipts and Disbursements April 2020 May 2020 Receipts General Fund Property Tax $ 21,591,200 $ 14,879,762 Local Sales Tax 2,662,397 1,398,189 Public Safety Sales Tax 181,599 161,604 Transient Occupancy Tax(TOT) 190,309 28,745 Utility Users Tax(UUT) 1,554,545 1,275,242 Other Revenue 4,159,932 4,244,655 Total General Fund Revenue 30,339,982 21,988,196 Total All Other Funds Revenue 23,007,308 9,567,116 Total Receipts $ 53,347,290 $ 31,555,312 Disbursements General Fund Personal Services (9,809,367) (9,572,043) Operating Expenses (5,046,015) (2,443,485) Capital Expenditures Non-Operating Expenses (4,208) (70,142) Total General Fund Disbursements (14,859,591) (12,085,670) Total All Other Funds Disbursements (12,514,391) (9,090,686) Total Disbursements (27,373,981) (21,176,356) Net Change in Cash Flow $ 25,973,309 $ 10,378,956 Summary of Cash by Fund April 2020 May 2020 General Fund 81,592,046 $ 91,494,573 General Fund Other 4,068,181 3,967,648 Capital Projects Funds 28,347,088 28,192,383 Debt Service Funds 3,779,195 3,779,195 Enterprise Funds 83,654,302 85,236,418 Trust and Agency Funds 15,672,003 16,816,087 Internal Service Funds 28,521,980 27,919,383 Special Revenue Funds 45,532,378 44,140,441 General Ledger Cash Balances $ 291,167,173 $ 301,546,129 * Total cash will differ from investment portfolio total due to outstanding checks and/or other timing differences. 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(�h Description Accrued,Interest,;Purchw, Amortized Cost, Fair Vafue i4 Accru�dInter�st 1* United States Treasury: Bills $ 23,981,651,409.11 $ 24,057,110,770.12 $ 24,086,038,500.00 NA Notes $ 28,916,240,318.04 $ 28,914,282,796.34 $ 29,340,004,500.00 $ 125,755,726.50 1* Federal A enc : SBA $ 486,745,410.00 $ 486,745,410.00 $ 482,514,375.35 $ 206,984.81 MBS-REMICs $ 17,080,376.76 $ 17,080,376.76 $ 18,042,305.76 $ 79,578.32 Debentures $ 2,081,903,495.66 $ 2,081,807,732.33 $ 2,103,282,210.00 $ 8,935,239.97 Debentures FR $ - $ _ $ _ $ _ Debentures CL $ 1,025,000,000.00 $ 1,025,000,000.00 $ 1,027,343,500.00 $ 857,834.00 Discount Notes $ 16,570,990,090.25 $ 16,612,067,694.50 $ 16,617,801,000.00 NA 1* Su ranational Debentures $ 614,688,043.27 $ 614,656,765.49 $ 619,258,800.00 $ 3,295,333.75 1* Su ranational Debentures FR $ 200,128,103.33 $ 200,128,103.33 $ 200,124,773.71 $ 399,965.53 2* CDs and YCDs FR $ 500,000,000.00 $ 500,000,000.00 $ 500,132,000.00 $ 110,622.74 2* Bank Notes $ 100,000,000.00 $ 100,000,000.00 $ 100,198,708.70 $ 674,222.22 2* CDs and YCDs $ 12,700,650,610.28 $ 12,700,428,388.06 $ 12,706,251,524.80 $ 40,862,527.80 2* Commercial Paper $ 7,719,088,172.29 $ 7,736,449,795.89 $ 7,741,500,020.04 NA 1* Corporate: Bonds FR $ _ $ _ $ _ $ _ Bonds $ _ $ _ $ _ $ _ 1* Repurchase A reements $ - $ _ $ _ $ _ 1* Reverse Repurchase $ - $ _ $ _ $ _ Time Deposits $ 5,488,990,000.00 $ 5,488,990,000.00 $ 5,488,990,000.00 NA AB 55&GF Loans $ 575,596,000.00 $ 575,596,000.00 $ 575,596,000.00 NA TOTAL $ 100,978,752,028.99 $ 101,110,343,832.82 $ 101,607,078,218.36 1 $ 181,178,035.64 Fair Value Including Accrued Interest $ 101,788,256,254.00 * Governmental Accounting Standards Board (GASB)Statement#72 Repurchase Agreements,Time Deposits,AB 55&General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value(carrying cost). The value of each participating dollar equals the fair value divided by the amortized cost(1.004912795). As an example: if an agency has an account balance of$20,000,000.00,then the agency would report its participation in the LAW valued at$20,098,255.90 or$20,000,000.00 x 1,004912795. 72 Statement of Cash Receipts and Disbursements and - � Summary of Cash by Fund Finance Department r June 2020 Cash Receipts and Disbursements May 2020 June 2020 Receipts General Fund Property Tax $ 14,879,762 $ 420,009 Local Sales Tax 1,398,189 3,063,111 Public Safety Sales Tax 161,604 171,061 Transient Occupancy Tax(TOT) 28,745 156,055 Utility Users Tax(UUT) 1,275,242 1,299,734 Other Revenue 4,244,655 4,316,765 Total General Fund Revenue 21,988,196 9,426,735 Total All Other Funds Revenue 9,567,116 18,150,461 Total Receipts $ 31,555,312 $ 27,577,196 Disbursements General Fund Personal Services (9,572,043) (10,406,407) Operating Expenses (2,443,485) (1,467,133) Capital Expenditures (10,463) Non-Operating Expenses (70,142) (147,315) Total General Fund Disbursements (12,085,670) (12,031,318) Total All Other Funds Disbursements (9,090,686) (12,810,636) Total Disbursements (21,176,356) (24,841,954) Net Change in Cash Flow $ 10,378,956 $ 2,736,242 Summary of Cash by Fund May 2020 June 2020 General Fund 91,494,573 $ 88,889,990 General Fund Other 3,967,648 3,914,016 Capital Projects Funds 28,192,383 27,840,304 Debt Service Funds 3,779,195 3,777,720 Enterprise Funds 85,236,418 87,979,247 Trust and Agency Funds 16,816,087 14,459,444 Internal Service Funds 27,919,383 27,563,871 Special Revenue Funds 44,140,441 49,856,779 General Ledger Cash Balances $ 301,646,129 $ 304,281,371 Total cash will differ from investment portfolio total due to outstanding checks and/or other timing differences. Note: Above information was obtained from the City's accounting system records.The above information includes receipts from maturing investments and payments for purchased investments in the city investment portfolio.This statement is prepared in compliance with the City's Charter. 73 r City of Huntington Beach File #: 20-1574 MEETING DATE: 5/4/2020 REQUEST FOR CITY COUNCIL ACTION SUBMITTED TO: Honorable Mayor and City Council Members SUBMITTED BY: Oliver Chi, City Manager PREPARED BY: Alisa Backstrom, City Treasurer Subject: Receive and File the City Treasurer's March 2020 Quarterly Investment Summary Report Statement of Issue: Receive and File the City Treasurer's Quarterly Investment Report for March 2020, pursuant to Section 17.0 of the Investment Policy of the City of Huntington Beach. Financial Impact: Not Applicable Recommended Action: Receive and File the City Treasurer's Quarterly Investment Report for March 2020, pursuant to Section 17.0 of the Investment Policy of the City of Huntington Beach. Alternative Action(s): Deny or Critique Quarterly Report. Analysis: Not Applicable Environmental Status: Not Applicable Strategic Plan Goal: Strengthen long-term financial and economic sustainability Attachment(s): 1 . Treasurer's Quarterly Investment Report for March 2020 City of Huntington Beach Page 1 of 1 Printed on 4/30/2020 powered4A LegistarT1' City of Huntington Beach Quarterly Investment Report March 2020 rt s _ Prepared by: Alisa Backstrom, MBA, CCMT, CPFIM City Treasurer Colin Stevens, MPP Treasury Associate 49 PORTFOLIO SUMMARY AS OF: March 31, 2020 Investment Type $ in 000's Market Value Book Value %of Portfolio Federal Agency Issues $ 84,443 $ 82,238 35.3% Local Agency Investment Fund(LAIF) $ 56,933 $ 56,933 24.5% Treasury Securities $ 23,424 $ 22,948 9.9% Medium Term Notes $ 21,670 $ 21,180 9.1% Corporate Bonds $ 50,241 $ 49,465 21.3% TOTAL $ 236,710 $ 232,763 100.0% As of March 31, 2020, the market value of the portfolio was higher than the book value of the portfolio at $236.7 million versus $232.8 million, respectively. This was due to the overall decrease in market interest rates over the past three months, which served to increase the prices (value) of some of the existing securities in the portfolio purchased prior to the downturn in rates. Currently, funds within this portfolio are invested in federal agency securities, corporate bonds, the Inter-American Development Bank ("IADB"), the International Bank for Reconstruction and Development ("IBRD"), U.S. Treasury Securities, and the State of California's pooled account (Local Agency Investment Fund "LAIF"). Only the investment types allowed under California Government Code Section 56301 are utilized. As is typical, the largest holding by security type at month-end was federal agencies at approximately 35% of the total overall portfolio. This was followed by funds in LAIF at 25% of the total portfolio as of March 31. Due to the decrease in market interest rates, there has been additional calls within the portfolio. This has resulted in an increase in the cash portion of the portfolio. As rates within the LAIF account have moved down more slowly than the market overall, such cash has currently been maintained in the LAIF account to obtain a higher yield. 50 PORTFOLIO BREAKOUT BY TYPE % of Total Portfolio R M'S F,x. 10% ■ Federal Agency Issues •Local Agency Investment Fund (LAIF) Treasury Securities ■ Medium Term Notes !::Corporate Bonds PORTFOLIO EARNINGS AS OF: March 31, 2020 Total Earnings Month: March % Chg Fiscal YTD % Chg Current Year $ 437,478 la 54% $ 3,830,742 33% Current Budget $ 300,000 $ 2,700,000 Last Year Actual $ 284,508 $ 2,870,248 Average Daily Balance $ 245,831,099 $ 232,040,664 Effective Rate of Return 2.10% 2.19% Benchmark* 1.65% nla *12-month moving average of interpolated 1.5-year treasury Earnings for the month of March 2020 were $437,478, an increase of 54% from the same month in the prior year. As well, fiscal year-to-date earnings of$3,830,742 were also up from the same period during the previous year by 33%. This solid increase in earnings was due to the higher yielding securities purchased when rates were up, as well as due to following a consistent and targeted investment strategy. It is to be expected however, that we will see a decrease in earnings and yield as bonds are called and as new funds must be invested at the current lower rates. The effective rate of return for the month was 2.10%, with a fiscal year-to-date return of 2.19%. As the Federal Reserve had decreased rates throughout March, the benchmark rate fell accordingly. The benchmark of the 12-month moving average of the interpolated 1.5-year U.S. Treasury was 1.65% at the end of March. 51 PORTFOLIO ACTIVITY: MONTH - MARCH MONTHLY ACTIVITY: March 2020 Investment Type $ Purchases/ Calls/Maturities/ in 000's Deposits Withdrawals Federal Agency Issues $ 22,000 $ 21,905 Local Agency Investment Fund (LAIF)* $ - $ 15,000 Treasury Securities $ - $ - Medium Term Notes $ - $ - Corporate Bonds $ - $ 2,000 TOTAL $ 22,000 $ 38,905 *Includes Interest Income PORTFOLIO ACTIVITY: QUARTER QUARTERLY ACTIVITY: Jan 1, 2020 - March 31, 2020 Investment Type $ Purchases/ Calls/Maturities/ in 000's Deposits Withdrawals Federal Agency Issues $ 35,000 $ 36,905 Local Agency Investment Fund (LAIF)* $ 24,131 $ 24,000 Treasury Securities $ - $ - Medium Term Notes $ - $ _ Corporate Bonds 2,000 7,000 TOTAL $ 61,131 $ 67,905 *Includes Interest Income The portfolio is in conformity with all relevant State regulations and the City's Investment Policy statement as approved by the City Council on February 3, 2020. The investment program herein shown provides sufficient cash flow liquidity to meet the next six months' obligations. MAXIMUM SPECIFIED INVESTMENT TYPE MAXIMUM % OF PORTFOLIO/ MINIMUM QUALITY IN MATURITY MAXIMUM PER REQUIREMENTS COMPLIANCE ISSUER Commercial Paper 270 days 25%/10% Al, "A" Rating YES State Obligations- CA And Others 5 years None110% "A" Rating YES U.S.Treasury Obligations 5 Years None None YES U.S. Government 5 years None None YES Agency Obligations IBRD, IFC, IADB 5 years 10% "AA" Rating YES Corporate Notes 5 years 30%/10% "A" Rating YES Local Agency Investment Fund N/A Up to $65,000,000 None LAIF YES Maximim Maturities 1 No more than 50%of portfolio maturing over 4 years. YES 52 SUPPLEMENTAL INFORMATION ADDITIONAL ACCOUNT BALANCES: Ending Balance Market Values. 12-31-19 Total Deferred Compensation Plan Balances $155,654,544 CalPERS Retiree Medical Trust Account $30,910,867 US Bank Supplemental Pension Trust Account $63,032,134 PARS Post Employment Benefits 116 Trust Account $7,694,457 Bond Reserve Accounts (as of March 31, 2020) $10,614,883 (Due to delay in statement receipt,amounts are from previous quarter end) ECONOMIC AND MARKET OVERVIEW MARKET SUMMARY: JANUARY - MARCH 2O20 Fed Funds 2-Yr. 10-Yr. As of: Rate Treasury* Treasury* S&P 500 DJIA 1/31/2020 1.50- 1.75% 1.33% 1.51% $ 3,225.52 $ 28,256.03 2/27/2020 1.50- 1.75% 0.86% 1.13% $ 2,954.22 $ 25,409.36 3/31/2020 0-0.25% 0.23% 0.70% 2,470.50 20,943.51 Feb-Mar%Change -150 bps -73% -38% -18°61 -18% *Treasurys as of 2/28/2020 "Market Turmoil from February Carried Over into March as the Heath Crisis Deepened, Drawing Global and Fiscal Relief Efforts as Recession Became Certain." This headline from Vining Sparks, summarizes the conditions through the end of March. "March was a historically treacherous month for global markets and the economy as the COVID- 19 health crisis deepened, drawing unprecedented responses from monetary and fiscal policymakers around the world. Picking up where it left off in February, and reflecting expectations fora certain end to the longest U.S. expansion everrecorded, the S&P 500 plunged into a bear market, down 12.5% in March and falling as much as 34% from an all-time high reached on February 19. The monthly decline for March and 20.0% decline for the full quarter were the worst results since 2008." (Both quotations above from Vining Sparks' Monthly Review, March 2020.) For the week ending April 18, Initial Jobless Claims rose another 4.4 million bringing the five- week total to 26.4 million. Data now suggests that the unemployment rate will rise to over 18% of the U.S. labor force. The Federal Reserve cut rates twice in March, first by 50 basis points and then by the remaining 100 basis points, to bring the Fed Funds rate to 0-.25%. The also provided for various lending and liquidity facilities to support the financial and economic markets. The Federal Government passed three separate stimulus bills, the last of which was the CARES Act. This stimulus provides more than $2 trillion in relief funding for consumers and businesses. The effect of all of these activities on the Treasury markets was to drive them significantly lower. Following February's 40 basis point drop, the 2-year U.S. Treasury fell 67 basis to 0.25%. Similarly, after falling 38 basis points in the prior month, the 5-year U.S. Treasury yield fell 56 basis points in 53 March to 0.38%. The 10-year yield followed suit falling 48 basis points to 0.67%, after previously dropping by 36 basis points in February. --0 2Yr Tsy "0 5Yr Tsy —0— 10YrTsy Treasury Rates 2.70 2.60 2.570 2.530 2.50 2.410 .40D 2.40 2. i!0 2.30 2.20 8 2.10 0 2.060 2.00 1.90 1,b90 t.66o 1.80 1.780 1.700 1.710 0 1.70 0 t.68o 1.60 0 1.570 .560 OYr Tsy 7 1.50 90 •. 0 500 N 1.40 1* f" �0 1.30 1.20 1.10 1.00 0.90 0 0 0.80 0.70 0.60 0 0.50 0. 0 0.40 0.30 C� C4 � �� � � �•� � Cog ^� � �� �� M O b 54 City of Huntington Beach City of Huntington Beach 2000 Main St. Portfolio Management Huntington Beach, r Portfolio Summary January 31,2020 Investments Par Market Book %of Days to YTM YTM Value Value Value Portfolio Tenn Maturity 360 Equiv, 365 Equiv. Federal Agency Issues-Coupon 98,905,000.00 100,226,304.25 99,157,710.79 38.65 1,533 818 1.860 1.886 Local Agency Investment Funds 58,932,525.69 58,932,525.69 58,932,525,69 22.97 1 1 1.940 1.967 Treasury Securities-Coupon 23,000,000.00 23,073,830.00 22,928,900.36 8.94 957 611 2.238 2.269 Medium Tenn Notes 21,000,000.00 21,457,530.00 21,179,690.49 8.26 1,328 1,001 2.324 2.357 Corporate Bonds 54,375,000A0 55,417,427,50 54,341,893.26 21.18 1,206 678 2.645 2.681 256,212,525.69 259,107,617.44 256,640,720.59 100.00 1,043 597 2.117 2.146 Investments Cash and Accrued Interest Accrued Interest at Purchase 75,146.19 75,146,19 Subtotal 75,146.19 75,146.19 Total Cash and investments 256,212,525.69 259,182,763.63 256,615,866.78 1,D43 597 2.117 2.146 Total Earnings January 31 Month Ending Fiscal Year To Date Fiscal Year Ending Current Year 460,599.85 2,954,844.21 Current Budget 300,000.00 2,100,000.00 3,600,000.00 Last Year Actual 394,601.98 2,308,384.57 3,698,214.38 Average Daily Balance 253,767,638.58 227,598,287.72 Effective Rate of Return 2.14% 2.20 1 certify that this report accurately reflects all City pooled investments and is in conformity with a8 State laws and the investment policy statement filed with the City Council on February 4,2019.A copy of this policy is available at the office of the City Clerk.The investment program herein shown provides sufficient cash flow liquidity to meet the next six month's obligations. Market Values provided by Union Bank via Interactive Data Corporation. Alisa Backstrom,CITY TREASURER Reporting period 01101/2020-01/3112020 Portfolio CITY AP Run Date 04222020.12:59 PM(PRF_PMt)7.3.0 Report Ver.7.3.6.1 55 City of Huntington Beach Portfolio Management Page 1 Portfolio Details-Investments January 31,2020 CUSIP Investmerrt# Issuer Average Purchase Stated YTM Days to Maturity Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Federal Agency issues-Coupon 3133EGEV3 4140 Federal Farm Credit Bank 06/16/2016 5,OD0,000.00 5,000,000.00 5,000,000.00 1.620 AA 1.620 499 06/14/2021 3133ECRX5 4292 Federal Farm Credit Bank 0523/2019 5,000,000.00 5,159,950.00 5,004,625.90 2.260 AA 2236 1,602 03/13/2024 3133EKTG1 4296 Federal Farm Credit Bank 07/01/2019 5,000,000.00 5,036,300.00 4,991,743.06 1.750 1.821 881 07/01/2022 3130ABDC4 4138 Federal Home Loan Bank D6/30/2016 2,250,000.00 2,247,322.50 2,250,000.00 1.600 AA 1.600 333 12/30/2020 313383QR5 4281 Federal Home Loan Bank 12/20/2018 5,000,000.00 5,299,750.00 5,079,582,35 3,250 2.743 1.224 06/09/2023 3130AFWX1 4285 Federal Home Loan Bank 02/26/2019 5,000,000.00 5,184,950.00 5,000,000,00 2.650 2550 1,214 05/30/2023 313OA1 W95 4297 Federal Home Loan Bank 06/27/2019 5,000.000.00 5,054,200.00 5,027,249.29 2250 1.840 496 06/11/2021 3134G9E78 4149 Federal Home Loan Mort Corp 06/30/2016 5,000,000.00 4,996,250.00 5,000,000.00 1.280 AA 1.280 242 09/30/2020 3134G9C54 4150 Federal Home Loan Mort Corp 06/30/2016 4,655,000.00 4,644,991.75 4,665,000.00 1.500 AA 1.500 515 06130/2021 3134GAUB8 4156 Federal Home Loan Mort Corp 11/22/2016 5,000,000.00 5,000,300,00 5.000,000.00 1..650 AA 1.650 660 11IW2021 3134GBNN8 4256 Federal Home Loan Mort Corp 05/30/2017 5,000,000.00 5.000,650.00 5,000.177.23 1.750 AA 1.744 209 08/282020 3134G9N94 4257 Federal Home Loan Mort Corp O6/14/2017 5,D00,000.00 5,022,600.00 5,010,842.89 1,875 AA 1.723 542 07/27/2021 3134G92Y2 4258 Federal Home Loan Mort Corp 06/14/2017 5,000,000.DO 5,032,300.00 5,010,505.92 1.875 AA 1.733 563 08/17/2021 3137EAEN5 4287 Federal Home Loan Mort Corp 03/08/2019 3,000,000.00 3,139,320.00 3,028,691.37 2.750 2450 1,234 06/19/2023 3137EAEN5 4288 Federal Home Loan Mort Corp 03/14/2019 3,000,ODO.00 3,139,320.00 3,029,969.94 2.750 2.437 1.234 06/192023 3134GUA42 4302 Federal Home Loan Mort Corp 12/23/2019 5,000,000.00 5,004,800.00 5,000,000.00 1.800 1.8DO 965 0923/2022 3134GUC32 4303 Federal Home Loan Mort Corp 1=012019 5,000,000.00 5,OD4,750.00 5.000,000.00 2.000 2000 1,600 06/19/2024 3134GU5T3 4304 Federal Home Loan Mort Corp 01/302020 3,000,000.00 3,003,030.00 3,000,000.00 1,875 1.875 1.824 0129/2025 3136G3SJ5 4141 Fed.Natl Mort Assoc. 06/3012016 5,000,000.00 5.000,450.00 4,999,646.53 1.500 AA 1.505 515 06/30/2021 3136G3SN6 4143 Fed.Narl Mort.Assoc. 06/23/2016 3,ODD,DD0.00 2,997,570.00 3,000,000.00 1.500 AA 1.500 326 12/2312020 3136G3UTO 4146 Fed.N&I Mort Assoc. 06/30/2016 5,000,000.00 4,992,800.00 5,000,000.00 1.500 AA 1.500 333 12/30/2020 313500043 4289 Fed.Narl Mort Assoc. 03/152019 5,000,000.00 5,264,700.00 5,069,676.31 2.875 2.465 1,319 09112/2023 Subtotal and Average 103,935,498.32 98,905,000.00 100,226,304.25 99,157,710.79 1.886 818 Local Agency Investment Funds SYS982 982 Laif City 58,932,525.69 58,932.525.69 58,932.525.69 1.967 1.967 1 Subtotal and Average 61,389,348.85 58,932,525.69 58,932,525.69 58,932,525.69 1967 1 Treasury Securities•Coupon 912828XYI 4269 US Treasury Notes 08/012018 5,000,000.00 5,018,150.00 4,997.103.00 2.500 2.645 150 06/30/2020 912828XU9 4270 US Treasury Notes O8/102018 5,000,ODO.DO 4,998,450.00 4,979,920.00 1.500 2620 135 06/15/2020 912828XH8 4282 US Treasury Notes 12/2012018 5,000,ODO.00 5,000,800m 4,979,838.71 1.625 2.632 150 06/30/2020 912828YH7 4298 US Treasury Notes 12/05/2019 5,000,000.00 5,038,850.00" 4,978,724.59 1.500 AAA 1.595 1,703 09/30/2024 912928P79 4299 US Treasury Notes 12/05/2019 3,000,000.00 3,017,580.00 2,993,314.06 1.500 AAA 1.574 1.123 02/282023 Subtotal and Average 22,924,086.72 23,000,000.00 23,073,830.00 22,928,900.36 2269 611 Portfolio CITY AP Run Date:04=020.12:59 PM(PRF_PM2)7.3.0 Report Ver.7.33.6.1 City of Huntington Beach Portfolio Management Page 2 Portfolio Details-Investments January 31,2020 CUSIP Investment ti Issuer Average Purchase Stated YTM Days to Maturity Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Medium Term Notes 4581XDCP1 4268 Inter-American Dev.Bank 08/02(2018 7.000,000.00 7,005,740.00 6,978,618.32 1.875 2.716 136 06/16/2020 45818WBX3 4290 Inter-American Dev.Bank 03/28/2019 4,000,000.00 4.189,840.00 4,078,80289 2.870 2.270 1,265 07/20/2023 45818WBY1 4291 Inter-American Dev.Bank 03/28/2019 5,000,000.00 5,245,950.00 5,115,501.43 2.96D 2.271 1,292 05/16/2023 459D58HG1 4301 Intl Bk Recon&Development 12/1612019 5,000,000.00 5,016,000.00 5,006,767.85 2.200 AAA 2.015 1,696 09/23/2024 Subtotal and Average 21,179,681.33 21,000,000.00 21,457,630.00 21,179,690.49 2.357 1,D01 Corporate Bonds 037833AR1 4282 Apple Inc, 06/26/2017 5,000,000.00 5,082,150.00 5,052,652.34 2.850 AA 1.980 460 05/06/2021 06406HCZO 4155 Bank of New York 10/2412016 5,000,000.00 5,000,000m 5,001,650.25 2.150 A 1.617 23 02124/2020 166764AH3 4294 Chevron Corp 05/24/2019 5,000,000.00 5,236,750.00 5,100,252.72 3A91 AA 2.528 1,239 0624/2023 254687CR5 4300 Disney 12/16/2019 2,875.000.00 3,114,37250 3,069,615.38 4,000 2.070 1,338 10101/2023 437076BG6 4293 Home Depot Inc 05/2412019 5,000,000.00 5,120,350.00 5,016.421.34 2.625 A 2.474 851 06/0112022 459200HGS 4274 IBM Corp 09/28/2018 3,000,000.00 3,016,080,00 2,899,457.70 1.875 A 3.257 912 08/01/2022 46625HRT9 4283 JP Morgan 01/31/2019 2,500,000.00 2,523,475.00 2,477,969.15 2.400 3.081 492 06/072021 494368BP7 4164 Kimbedy Clark Corp 12/28/2016 2,000,000.00 1.999,860.00 1,999,745.93 1.850 A 2.008 29 03/0112020 713448CX4 4280 PEPSICO INC 1221/2018 5,000,000.00 5.171,000.00 4,993,007.08 3A00 3.160 897 07/17/2022 69353RFC7 4267 PNC BANK 0625/2018 5,000,omoo 5,002,800.00 4,994,368.42 2000. 3.080 108 05/19/2020 69353REP9 4271 PNC BANK 08/13/2018 1,000,000.00 1.001,380.00 997,640.74 2.300 3.031 121 06/01/2020 828807DBO 4272 Simon Property Group 09/21/2018 3,000,000.00 3,065,460.00 2,946,148.44 2.625 A 3.239 865 06/15/2022 882508BAl 4279 Tez Instruments Inc 12/21/2018 5,000,000.00 5,024,900.00 4,867,749.35 1.850 3.564 834 05/15/2022 904764AW7 4286 Unilever 03/0112019 5,000,000.00 5,058.850.00 4.935,214.42 2.200 2.802 824 05/05/2022 Subtotal and Average 54,339,023.36 54,376,000.00 55,417,42750 54,341,893.26 2.681 678 Total and Average 253,767,638.68 256,212,525.69 259,107,617.44 256,640,720.59 2.146 597 Portfolio CITY AP Run Date:04222020-12:59 PM(PRF PM2)7.3.0 57 City of Huntington Beach Portfolio Management Page Portfolio Details-Cash January 31,2020 CUSIP Investment Issuer Average Purchase Stated YTM Days to Balance Date Par Value Market Value Book Value (ate S&P 365 Maturity Average Balance 0.00 Accrued Interest at Purchase 75,146.19 75,146.19 p Subtotal 75,146.19 75,146.19 Total Cash and Investments 253,767,638.58 ZS6,212,525.69 259,182,763.63 2S6,615,866.78 2.146 597 Portfolio CITY Run Date:04(722020-12:59 AP PM(PRP PM2)7.3.0 58 t City of Huntington Beach Portfolio Management Activity BY Type e Page 1 January 1,2020 through January 31,2020 Stated Transaction Purchases Redemptions CUSIP Investmerd# Issuer Rate Date or Deposds or Withdrawals Balance Federal Agency Issues-Coupon 3130AFTA5 4284 Federal Home Loan Bank 3.050 01/30/202D 0.00 5,000,000.00 3134GU5T3 43D4 Federal Home Loan Mort Corp 1.875 01/30/2020 3,000,000.00 0.00 3136G3VU6 4147 Fed.Nat'l Mon.Assoc. 2.000 01/19=20 0.00 5,0D0,000.D0 Subtotal 3,0D0,000.00 10,000,000.00 99,157,710.79 Local Agency Investment Funds (Monthly Summary) SYS982 982 Laif City 1.967 24,131,320.14 0.00 Subtotal 24,131,320.14 0.00 58,932,525.69 Treasury Securities-Coupon Subtotal 22,928,900.36 Medium Term Notes Subtotal 21,179,69OA9 Corporate Bonds Subtotal 54,341,893.26 Total 27,131,320.14 10,OD0,000.00 256,540,720.59 Portfolio CITY AP Run Date:04222020-12:59 PM(PRF PM3)7.3,0 Report Ve,7.3.6.1 59 City of Huntington Beach Portfolio Management Page 1 Activity Summary January 2019 through January 2020 Yield to Maturity Managed Number Number Month Number of Average 360 365 Pool of Investments of Investments Average Average End Year Securities Balance Equivalent Equivalent Rate purchased Redeemed Term Days to Maturity January 2019 48 237,888,789.20 2.110 2.140 2.355 2 1 1,100 629 February 2019 49 239,354,027.47 2.108 2.138 2.392 1 0 1,185 667 March 2019 53 239,114,873.33 2.101 2.130 2.436 6 2 1,268 743 April 2019 52 245,334,343.80 2.108 2.137 2.445 0 1 1,141 634 May 2019 53 265,615,018.09 2A35 2.165 2.449 3 2 1,162 669 June 2019 49 248,814.733.00 2,198 2.228 2.428 2 6 1,115 680 July 2019 49 245,748,358.62 2.177 2207 2.379 1 1 1,240 743 August 2019 48 224,277,639.58 2.173 2.204 2.341 0 1 1,331 774 September 2019 48 214,523,919.98 2.199 2.229 2.280 0 3 1,303 743 October 2019 45 213,459,526.87 2.204 2235 2.190 0 1 1,272 699 November 2019 44 214,597,017.12 2.207 2.238 2.103 0 1 1,203 647 December 2019 49 225,972,763.68 2.161 2.191 2.043 6 2 1,171 685 January 2020 48 253,767,638.58 2,117 2.146 1.967 1 2 1,043 597 Average 49 236,063,626.34 2.164% 2.1841% 2.293 2 2 1,196 685 Portfolio CITY AP Run Date;04/22=20-12:59 PM(PRF_PM4)7.3.0 Report Ver.7.3.6.1 60 City of Huntington Beach Portfolio Management Page 1 Interest Earnings Summary January 31,2020 January 31Month Ending Fiscal Year To Date CD/Coupon/Mscount Investments: Interest Collected 351,775.00 2,834,153.75 Plus Accrued Interest at End of Period 782,691.50 760,441.50 Less Accrued Interest at Beginning of Period ( 768,137.52) ( 1,045,449.78) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 366,328.98 2,549,145.47 Adjusted by Premiums and Discounts 8,419.68 72,990.70 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 374,748.66 2,622,136.17 Pass Through Securities: Interest Collected 0.00 0.00 Plus Accrued Interest at End of Period 0.00 0.00 Less Accrued Interest at Beginning of Period ( 0.00) ( 0.00) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 0.00 0.00 Adjusted by Premiums and Discounts 0.00 0.00 Adjusted by Capital Gains or Losses 0.00 0,00 Earnings during Periods 0.00 0.00 Cash/Checking Accounts: Interest Collected 131,320.14 469,582.09 Plus Accrued Interest at End of Period 62,429.62 62,429.62 Less Accrued Interest at Beginning of Period ( 107,898.57) ( 199,303.67) Interest Earned during Period 85,851.19 332,708.04 Total Interest Earned during Period 452,180.17 2,881,853.61 Total Adjustments from Premiums and Discounts 8,419.68 72,990.70 Total Capital Gains or Losses 0.00 0.00 Total Earnings during Period 460,599.85 2,954,8".21 Portfolio CITY AP Run Date:04r2M020-12:59 PM(PRF PM6)7.3,0 Report Ver.7.3.6.1 61 �cavEsr,�F�� State of California Pooled Money Investment Account Market Valuation LltlU U DO* 1/31/2020 ry' Carrying Cost Plus Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury: Bills $ 16,133,255,448.54 $ 16,265,497,000.00 NA Notes $ 32,708,440,735.82 $ 32,870,628,500.00 $ 158,552,191.00 Federal Agency. SBA $ 553,394,022.81 $ 550,023,519.44 $ 1,042,619.75 MBS-REMICs $ 18,878,429.15 $ 19,533,233.44 $ 88,139.43 Debentures $ 2,395,154,835.80 $ 2,409,669,600.00 $ 13,720,799.60 Debentures FR $ - $ - $ _ Debentures CL $ 975,000,000.00 $ 976,566,750.00 $ 2,935,139.00 Discount Notes $ 15,066,101,840.18 $ 15,110,118,500.00 NA Supranational Debentures $ 664,499,557.94 $ 668,619,650.00 $ 4,368,275.75 Supranational Debentures FR $ 200,189,619.96 $ 200,324,118.66 $ 237,253.10 CDs and YCDs FR $ 400,000,000.00 $ 400,116,000.00 $ 1,209,179.56 Bank Notes $ 600,000,000.00 $ 600,093,879.88 $ 5,387,527.77 CDs and YCDs $ 16,600,000,000.00 $ 16,603,684,347.36 $ 102,091,555.53 Commercial Paper $ 8,937,162,694.45 $ 8,971,917,833.32 NA Corporate: Bonds FR $ - $ - $ - Bonds $ - $ - $ - Repurchase Agreements $ - $ - $ - Reverse Repurchase $ - $ - $ - Time Deposits $ 4,754,240,000.00 $ 4,754,240,000.00 NA AB 55 & GF Loans $ 617,241,000.00 $ 617,241,000.00 NA TOTAL $ 100,623,558,184.65 $ 101,018,273,932.10 $ 289,632,680.49 Fair Value Including Accrued Interest $ 101,307,906,612.59 Repurchase Agreements, Time Deposits,AB 55 & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 62 Statement of Cash Receipts and Disbursements and Summary of Cash by Fund Finance Department ' January 2020 Cash Receipts and Disbursements December 2019 January 2020 Receipts General Fund Property Tax $ 25,212,594 $ 14,033,489 Local Sales Tax 3,309,010 3,107,201 Public Safety Sales Tax 240,403 197,241 Transient Occupancy Tax(TOT) 882,146 758,142 Utility Users Tax(UUT) 1,420,538 1,490,032 Other Revenue 3,704,011 3,992,100 Total General Fund Revenue 34,768,701 23,578,205 Total All Other Funds Revenue 15,828,556 33,873,390 Total Receipts $ 50,597,257 $ 57,451,595 Disbursements General Fund Personal Services (11,825,951) (14,380,325) Operating Expenses (3,087,852) (2,972,546) Capital Expenditures (7,390) - Non-Operating Expenses (147,315) (4,208) Total General Fund Disbursements (15,068,508) (17,357,079) Total All Other Funds Disbursements (12,557,549) (35,124,287) Total Disbursements (27,626,057) (52,481,366) Net Change in Cash Flow $ 22,971,200 $ 4,970,229 Summary of Cash by Fund December 2019 January 2020 General Fund 58,809,124 $ 65,030,250 General Fund Other 4,054,847 4,117,765 Capital Projects Funds 26,672,122 23,538,921 Debt Service Funds 4,329,524 4,330,368 Enterprise Funds 80,350,778 78,079,917 Trust and Agency Funds 11,738,518 15,580,897 Internal Service Funds 29,944,015 29,966,151 Special Revenue Funds 41,774,462 41,999,350 General Ledger Cash Balances $ 257,673,390 $ 262,643,619 Total cash will differ from investment portfolio total due to outstanding checks and/or other timing differences. Note: Above information was obtained from the City's accounting system records.The above information includes receipts from maturing investments and payments for purchased investments in the city investment portfolio.This statement is prepared in compliance with the City's Charter. 63 City of Huntington Beach City of Huntington Beach 2000 Main St. Portfolio Management Huntington Beach, Portfolio Summary February 29,2020 Investments Par Market Book %of Daysto YTM YTM Value Value Value Portfolio Tenn Maturity 360 Equiv. 365 Equiv, Federal Agency Issues-Coupon 103,905,000.00 105,820,189.10 104,149,875.50 41.72 1,574 912 1.864 1.890 Local Agency Investment Funds 49,932,525.69 49,932,525.69 49,932,525.69 20.00 1 1 1.886 1.912 Treasury Securities-Coupon 23,000,000,00 23,210,970.00 22,938,206.73 9.19 957 582 2.238 2.269 Medium Term Notes 21,000,000.00 21,557,970.00 21,179,710.08 8.48 1,327 972 2-325 2.357 Corporate Bonds 51,375,000.00 - 52,710,405.00 51,459,444.31 20.61 1,207 737 2.706 2.744 249,212,526.69 253,232,059.79 249,659,762.31 100.00% 1,106 669 2.115 2.145 Investments Cash and Accrued Interest Accrued Interest at Purchase 80,246.19 80,246.19 Subtotal 80,246.19 80,246.19 Total Cash and Investments 249,212,525-69 253,312,305.98 249,740,008.50 1,106 669 2.115 2.145 Total Earnings February 29 Month Ending Fiscal Year To Date Fiscal Year Ending Current Year 438,420.04 3,393,264.25 Current Budget 300,000.00 2,400,000.00 3,600,000,00 Last Year Actual 277,355.95 2,585,740.52 3,698,214.38 Average Daily Balance 250,234,023.87 230,288,600.62 Effective Rate of Return 2.21% 2.20% 1 certify that this report accurately reflects all City pooled investments and is in conformity with all State laws and the investment policy statement filed with the City Council on February 4,2019.A copy of this policy is available at the office of the City Clerk.The investment program herein shown provides sufficient cash flow liquidity to meet the next six month's obligations. Market Values provided by Union Bank via Interactive Data Corporation. Alisa Backstrom,CITY TREASURER Reporting period 0 2101/2 0 2 0-0 2/2912 0 2 0 Portfolio CITY AP Run Date:04r 2020-13:03 PM(PRF PM1)7.3.0 Report Ve..7.3.6.1 64 City of Huntington Beach Portfolio Management Page 1 Portfolio Details-Investments February 29,2020 CUSIP Investrnent# Issuer Average Purchase Stated YTM Days to Maturity Balance. Date Par Value Market Value Book Value Rate S&P 366 Maturity Date Federal Agency Issues-Coupon 3133EGEV3 4140 Federal Farm Credit Bank 06/15/2016 5,ODO,000.00 5,000,100.00 5,000,000.00 1.620 AA 1.620 470 06/14/2021 3133ECKX5 4292 Federal Farm Credit Bank 05/23/2019 5,000,000.00 5,251,800.00 5,004,53225 2260 AA 2236 1,473 03/1312024 3133EKTG1 4296 Federal Farm Credit Bank 07/01/2019 5,000,000.00 5,097,70D.00 4,992,027.78 1.750 1.621 $52 07101/2022 313DA8DC4 4138 Federal Home Loan Bank D6/30/2016 2,250,000.00 2,250,495.00 2,250,000.00 1.600 AA 1.600 304 12/30/2020 313383QR5 4281 Federal Home Loan Bank 1220/2018 5,000,000,00 5,377,550.00 5,077,6D5.97 3.250 2743 1,195 06/09/2023 313DAFWX1 4285 Federal Home Loan Bank 02/26/2019 5,000,000m 5,250,050.00 5,000,000.00 2.550 2.550 1,185 05/30/2023 313DAlVV95 4297 Federal Home Loan Bank 06/27/2019 5,000,000.00 5,079,350.00 5,025,580.97 2.250 1.B40 467 06/1112021 3134G9E78 4149 Federal Home Loan Mort Corp 06130/2016 5,000,000.00 5,001,200.00 6,000,000.00 1.280 AA 1.280 213 09/30/2020 3134G9C54 4150 Federal Home Loan Mort Corp 06/30/2016 4,655,000.00 4,656,024.10 4,655,000.00 1.500 AA 1.500 486 06/30/2021 3134GAUB8 4156 Federal Home Loan Mart Corp 1122/2016 5,000,000.00 5,006,000,00 5,000,000.00 1.650 AA 1.650 631 11/22/2021 3134G9N94 4257 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5.047,100.00 5,01D,236.01 1.875 AA 1.723 513 07127/2021 3134G92Y2 4258 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5,058,050.00 5,009,939.06 1.875 AA 1.733 534 08/17/2021 3137EAEN5 4287 Federal Home Loan Mort Corp 03/08/2019 3,000,000,00 3,174,420.00 3,027,984.69 2.750 2.450 1,205 06/192023 3137EAENS 4288 Federal Home Loan Mart Corp 03114/2019 3;000,000.00 3,174,420.00 3,029,231.77 2750 2.437 1,205 06/192023 3134GUA42 4302 Federal Home Loan Mort Corp 12/23/2019 5,000,000.00 5,010.500.00 5,000,000.00 1.800 1.800 936 09/23/2022 3134GUC32 4303 Federal Home Loan Mort Corp 12t2O/2019 5,000,000.00 5,009,800.00 5,000,000.00 2000. 2.000 1,571 06119/2024 3134GUST3 4304 Federal Home Loan Mort Corp 01/30/2020 3,000,000.00 3,013,860.00 3,000,000.00 1L875 1.875 1,795 01/29/2025 3134GVAR9 4305 Federal Home Loan Mon Corp 02/14/2020 5,00,000.00 5,OD9,850.00 5,000,000.00 1.900 AA 1.900 1,811 02/14/2025 3136G3SJ5 4141 Fed.Nat?Mort Assoc, 06/30/2016 5,000,000.00 5,001,950.00 4,999,667.36 1.500 AA 1.505 486 06130/2021 3136G3SN6 4143 Fed.Nat?Mort Assoc. 06/23f2016 3,000,000.00 3,000,570.00 3,000,000.00 1.500 AA 1.500 297 12/23/2020 3136G3UTO 4146 Fed.Nall Mort Assoc. D6/30/2016 5,000,000.00 5,001,000.00 5,000,000.00 1.500 AA 1.500 304 12130/2D20 3135GOU43 4289 Fed.Nat?Mort Assoc. 0311612019 5,000,000m 5,335,000.00 5,068,069.64 2.875 2.465 1,290 09/12/2023 3136G4UM3 4307 Fed,Nall Mort.Assoc. 02/25/2020 5,000,000.00 5,013,400.00 5,000,0DO.00 1.800 AA 1.600 1,730 11/25/2024 Subtotal and Average 102,429,711.62 103,905,000A0 105,820,189.10 104,149,875.60 1.890 912 Local Agency Investment Funds SYS982 982 Laif City 49,932,525.69 49,932,526.69 49,932,526.69 1.912 1.912 1 Subtotal and Average 53,346,318.79 49,932,525.69 49,932,525.69 49,932,525.69 1.912 1 Treasury Securities-Coupon 912828XY1 4269 US Treasury Notes 08/01/2018 5,000,000.00 5,019,150.00 4,997,663.09 2.500 2.645 121 06/30/2020 912828XUS 4270 US Treasury Notes 08/10/2018 5,000,000.00 5,001,750.00 4,984,233.48 1.500 2.620 106 06/15/2020 912828XH8 4282 US Treasury Notes 12/20/2018 5,000,000.00 5,004,900.00 4,983,736.56 1.625 2,632 121 06/30/2020 912828YH7 4298 US Treasury Notes 12/05/2D19 5,000,000.00 5,130,450.00 4,979,086.88 1.500 AAA 1.595 1,674 09/30/2024 912828P79 4299 US Treasury Notes 12/05/2019 3,000,000.00 3.054,720.00 2.993,486.72 1.500 AAA 1.574 1,094 02/282023 Portfolio CITY AP Run Date:04=020.13:03 PM(PRF PM2)7.3.0 Report Ver.76.$.6.1 City of Huntington Beach Portfolio Management Page 2 Portfolio Details-Investments February 29,2020 Average Purchase Stated YTM Days to Maturity CUSIP Investmentlt Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Subtotal and Average 22,933,714.00 23,000,000.00 23,210,970.00 22,938,206.73 2.269 582 Medium Term Notes 4581XOCP1 4268 Inter-American Dev.Bank 08/02/2018 7,000,000.00 7,009,870.00 6,983,369.81 1.875 2.715 107 06/16/2020 45818WBX3 4290 Inter-American Dev.Bank 03/28/2019 4,000,000.00 4,228,800.00 4,076,910.10 2.870 2.270 1,236 07=12023 45818VdBY1 4291 Inter-American Dev.Bank 03/28/2019 5,000,000.00 5,295,750.00 5,112,783,75 2.960 2.271 1,263 08116/2023 459058HG1 4301 Intl Bk Recon&Development 12/16/2019 5,000,000.00 5,023,550.00 5,006,646.42 2.200 AAA 2.015 1,667 09123/2024 Subtotal and Average 21,179,700.30 21,000,000.00 21,567,970.00 21,179,710.08 2,367 972 Corporate Bonds 037833AR1 4292 Apple Inc. 06/26/2017 5,000.000.00 5,086,800.00 5,049,180.76 2850 AA 1.980 431 05/06/2021 166764AH3 4294 Chevron Corp 05/24/2019 5,000,000.00 5,245,200.00 5,097,793.54 3.191 AA 2.628 1,210 06/24/2023 254687CR5 4300 Disney 12I612019 2,875,000.00 3,131,105,00 3.065,192.31 4.000 2.070 1,309 10/01/2023 437D76BG6 4293 Home Depot Inc 05/24/2019 5,000,000.00 5,139,650.00 5,015,834.87 2.625 A 2,474 822 06/01/2022 459200HG9 4274 IBM Corp 09/28/2018 3,000,000.00 3,037,500.00 2,902,809.11 1.875 A 3.257 883 08/01/2022 46625HRT9 4283 JP Morgan 01/31/2019 2,500,000.00 2,525,850.00 2,479,329.08 2A00 3.081 463 06/07/2021 494368BP7 4164 Kimberly Clark Corp 12/28/2016 2,000,000.00 2,000,000.00 2,000,000.00 1.850 A 2.008 0 03f01/2020 713448CX4 4280 PEPSICO INC 12/21/2018 5,000,000.00 5,193,950.00 4,993,243,86 3.100 3.160 868 07/17/2022 69353RFC7 4267 PNC BANK 06/25/2018 5,000,000.00 5,004,500.00 4,988,710.53 2.000 3.080 79 05/19/2020 69353REP9 4271 PNC BANK 08/13/2018 1;000,000.00 1,001,500,00 998,230.56 2.300 3.031 92 06/01/2020 828807DBO 4272 Simon Property Group 09/21/2018 3,000,000.00 3,072,570.00 2,948,040.18 2,626 A 3.239 836 06/15/2022 882508BA1 4279 Texas Instruments Inc 12/21/2018 5,000,000.00 5,032,100.00 4,872,564.30 1.850 3.564 $05 05/15/2022 904764AVV7 4286 Unilever 03101/2019 5,000,000.00 5,112,400.00 4,937,602.10 2,200 2,802 795 05/05/2022 90331HNV1 4306 US Bank NA Cincinnati 02/21/2020 2,000,OD0.00 2,126,980,00 2,110.913.11 3.400 AA t671 1,240 07/24/2023 Subtotal and Average 50,344,679.15 51,375,000.00 52,710,405.00 51,469,444.31 2.744 737 Total and Average 26D,234,023.87 249,212,525.69 253,232,059.79 249,659,762.31 2.145 669 Portfolio CITY AP Run Date:04222020-13:03 PM(PRF PMZ)7.3.0 66 City of Huntington Beach Portfolio Management Page 3 Portfolio Details-Cash February 29,2020 CUSIP Investment# Issuer Average Purchase Stated YTM Days to Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Average Balance 0.00 Accrued Interest at Purchase 80,246.19 80,246,19 0 Subtotal 80,246.19 80,246.19 Total Cash and Investments 250,234,023.87 249,212,525.69 253,312,30598 249,740,008.50 2.145 669 Portfolio CITY Run Date:04222 AP020-13:03 PM(PRF_PM2)7.3.0 67 City of Huntington Beach Portfolio Management Activity By Type Page 1 February 1,2020 through February 29,2020 Stated Transaction Purchases Redemptions CUSIP Investment# Issuer Rate Date or Deposits or Withdrawals Balance Federal Agency Issues-Coupon 3134GBNNB 4256 Federal Home Loan Mort Corp 1.750 02/2812020 0.00 5,000,154.11 3134GVAR9 4305 Federal Home Loan Mori Corp 1.900 02/1412020 5,000,000.00 0.00 3136G4UM3 4307 Fed.Natt Mort,Assoc. 1.800 02/25/2020 5,000,000.00 0.00 Subtow 10,000,D00.00 5,000,154.11 104,149,875.50 Local Agency Investment Funds(Monthly Summary) SYS982 982 La'rf City 1.912 0.00 9,000,000.00 Subtotal D.DD 9,0D0,000.00 49,932,625.69 Treasury Securities-Coupon Subtotal 22,938,206.73 Medium Term Notes Subtotal 21,179,710.08 Corporate Bonds 06406HCZO 4155 Bank of New York 2.150 02103/2020 0.00 5,001,506.75 90331HNVI 4306 US Bank NA Cincinnati 3.400 02/21/2020 2,111,520.00 0.00 Subtotal 2,111,820.00 5,DD1,506.76 51,459,444.31 Total 12,111,820.00 19,001,660.86 249,659,762.31 Portfolio CITY AP Run Date:04/221202 0-13:03 PM(PRF PM3)7.3.0 Report Ver.7.3.6.1 68 City of Huntington Beach Portfolio Management Pagel Activity Summary February 2019 through February 2020 Yield to Maturity Managed Number Number Month Number of Average 360 365 Pool of Investments of Investments Average Average End year Securities Balance Equivalent Equivalent Rate Purchased Redeemed Term Days to Maturity February 2019 49 239,354,027.47 2.108 2.138 2.392 1 0 1,185 667 March 2019 53 239,114,873.33 2.101 2.130 2.436 6 2 1,268 743 April 2019 52 245,334,343.80 2.108 2.137 2.445 0 1 1,141 634 May 2019 53 265.615,018.09 2.135 2.165 2.449 3 2 1,162 669 June 2019 49 248,814,733.00 2.198 2.228 2.428 2 6 1,115 680 July 2019 49 245,748,358.62 2.177 2.207 2.379 1 1 1,240 743 August 2019 48 224,277,639.58 2.173 2204 2.341 0 1 1,331 774 September 2019 48 214,523,919.98 2.199 2.229 2.280 0 3 1,303 743 October 2019 45 213,459,526.87 2.204 2.235 2.190 0 1 1,272 699 November 2019 44 214,597,017.12 2.207 2.238 2.103 0 1 1,203 647 December 2019 49 225,972,763.68 2.161 2.191 2.043 6 2 1,171 685 January 2020 48 253,767,638.58 2.117 2.146 1.967 1 2 1,043 597 February 2020 49 250,234,023.87 2,115 2.145 1.912 3 2 1,106 669 Average 49 236,963,020.96 2.154% 2.184% 2.259 2 2 1,195 688 Portfolio CITY AP Run Date:04122=0-13:03 PM(PRF PM4)7.3.0 Report Ver,7A6.1 69 City of Huntington Beach Portfolio Management Page 1 Interest Earnings Summary February 29,2020 February Month Ending Fiscal Year To Date CD/Coupon/Discount Investments: Interest Collected 240,229.17 3,074,382.92 Plus Accrued Interest at End of Period 892,621.02 870,371.02 Less Accrued Interest at Beginning of Period ( 782,691.50) ( 1,D45,449.78) Less Accrued Interest at Purchase During Period ( 0,00) ( 0.00) Interest Earned during Period 350,158.69 2,899,304.16 Adjusted by Premiums and Discounts 8,882.58 81,873.28 Adjusted by Capital Gains or Losses -1,660.86 -1,660.86 Earnings during Periods 357,380.41 2,979,516.58 Pass Through Securities: Interest Collected 0.00 0.00 Plus Accrued Interest at End of Period 0.00 0.00 Less Accrued interest at Beginning of Period ( 0.00) ( 0.00) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 0.00 0.00 Adjusted by Premiums and Discounts 0.00 0.00 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 0.00 0.00 Cash/Checking Accounts: Interest Collected 0.00 469,582.09 Plus Accrued Interest at End of Period 143,469.25 143,469.25 Less Accrued Interest at Beginning of Period ( 62,429.62) { 199,303.67) Interest Earned during Period 81,039.63 413,747.67 Total Interest Earned during Period 431,198.32 3,313,051.83 Total Adjustments from Premiums and Discounts 8,882.58 81,873.28 Total Capital Gains or Losses 1,660.86 -1,660.86 Total Earnings during Period 438,420.04 3,393,264.25 Portfolio CITY AP Run Date:04=020-13:03 PM(PRF PM6)7.3.0 Report ver.7.3.6.1 70 o��v\NVEST�F State of California o yV Pooled Money Investment Account Market Valuation 2/29/2020 ``rr rrouio�t+.� Carrying Cost Plus Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury: Bills $ 14,500,102,983.31 $ 14,631,723,000.00 NA Notes $ 33,057,091,132.58 $ 33,358,309,500.00 $ 132,856,830.50 Federal Agency: SSA $ 540,294,280.25 $ 537,062,203.48 $ 1,018,143.08 MBS-REMICs $ 18,607,680.01 $ 19,385,250.35 $ 86,914.40 Debentures $ 2,245,282,530.48 $ 2,264,852,100.00 $ 14,506,124.00 Debentures FR $ - $ - $ _ Debentures CL $ 975,000,000.00 $ 978,194,750.00 $ 4,183,124.25 Discount Notes $ 16,560,913,923.55 $ 16,616,708,250.00 NA Supranational Debentures $ 763,888,457.94 $ 769,491,600.00 $ 5,093,168.75 Su ranational Debentures FR $ 200,189,619.96 $ 200,285,923.35 $ 546,461.17 CDs and YCDs FR $ 400,000,000.00 $ 400,142,000.00 $ 1,314,700.06 Bank Notes $ 500,000,000.00 $ 500,180,754.51 $ 3,331,500.00 CDs and YCDs $ 13,550,000,000.00 $ 13,557,508,099.97 $ 63,005,347.20 Commercial Paper $ 8,695,660,847.17 $ 8,725,475,101.32 NA Corporate: Bonds FR $ - $ - $ - Bonds $ - $ - $ - Repurchase Agreements $ - $ - $ _ Reverse Repurchase $ - $ - $ - Time Deposits $ 4,898,990,000.00 $ 4,898,990,000.00 NA AB 55 & GF Loans $ 623,150,000.00 $ 623,150,000.00 NA TOTAL $ 97,529,171,455.25 1 $ 98,081,458,532.98 $ 225,942,313.41 Fair Value Including Accrued Interest $ 98,307,400,846.39 Repurchase Agreements, Time Deposits, AB 55 & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 71 Statement of Cash Receipts and Disbursements and Summary of Cash by Fund Finance Department February 2020 Cash Receipts and Disbursements January 2020 February 2020 Receipts General Fund Property Tax $ 14,033,489 $ 176,608 Local Sales Tax 3,107,201 4,485,067 Public Safety Sales Tax 197,241 200,818 Transient Occupancy Tax(TOT) 7S8,142 871,115 Utility Users Tax(UUT) 1,490,032 1,596,383 Other Revenue 3,992,100 4,432,815 Total General Fund Revenue 23,578,205 11,762,806 Total All Other Funds Revenue 33,873,390 10,189,457 Total Receipts $ 57,451,595 $ 21,952,263 Disbursements General Fund Personal Services (14,380,325) (10,260,400) Operating Expenses (2,972,546) (2,723,815) Capital Expenditures Non-Operating Expenses (4,208) (138,467) Total General Fund Disbursements (17,357,079) (13,122,682) Total All Other Funds Disbursements (35,124,287) (9,833,791) Total Disbursements (52,481,366) (22,956,473) $261,644,449 Net Change in Cash Flow $ 4,970,229 $ (1,004,209) Summary of Cash by Fund January 2020 February 2020 - General Fund 65,035,290 $ 63,675,414 - General Fund Other 4,117,765 4,119,626 - Capital Projects Funds 23,538,921 23,424,929 - Debt Service Funds 4,330,368 3,779,195 - Enterprise Funds 78,079,917 80,178,018 - Trust and Agency Funds 15,580,897 14,625,823 - Internal Service Funds 29,966,151 30,004,462 - Special Revenue Funds 41,999,350 41,836,981 - General Ledger Cash Balances $ 262,648,669 $ 261,644,449 Total cash will differ from investment portfolio total due to outstanding checks and/or other timing differences. Note: Above information was obtained from the City's accounting system records.The above information includes receipts from maturing investments and payments for purchased investments in the city investment portfolio.This statement is prepared in compliance with the City's Charter. 72 City of Huntington Beach City of Huntington Beach 2000 Main St. Portfolio Management Huntington Beach, Portfolio Summary March 31,2020 Investments Par Market Book %of Days to YTM YTM Value Value Value Portfolio Tenn Maturity 360 Equiv. 36S Equiv. Federal Agency Issues-Coupon 82,000,000.00 84,442,690,00 82,237,529.20 35.33 1,539 1,028 1.976 2004 Local Agency Investment Funds 56,932,525.69 56,932,525.69 56,932,525,69 24.46 1 1 1.763 1.787 Treasury Securities-Coupon 23,000,000.00 23,423,990.00 22,948,154.91 9.86 956 551 2.238 2269 Medium Tenn Notes 21,000,000.00 21,669,990.00 21,179,729.66 9.10 1,327 941 2.325 2.357 Corporate Bonds 49,375,000.00 50,240,933.75 49,464,757.67 21.25 1,208 736 2.736 2.774 Investments 232,307,525.69 236,710,129.44 232,762,697.13 100.00% 1,016 660 2.143 2.173 Cash and Accrued Interest Accrued Interest at Purchase 29.492.36 29,492.36 Subtotal 29,492.36 29,492.36 Total Cash and Investments 232,307,525.69 236,739,621.80 232,797,189.49 1,016 660 2.143 2.173 Total Earnings March 31 Month Ending Fiscal Year To Date Fiscal Year Ending Current Year 437,477.72 3,830,741.97 Current Budget 300,000.00 2,700,000.00 3,600,000.00 Last Year Actual 284,507.92 2,870,248.44 3,698,214.38 Average Daily Balance 245,831,098.72 232,040,664.04 Effective Rate of Return 2.10% 2.19% 1 certify that this report accurately reflects all City pooled investments and is in conformity with all State laws and the investment policy statement filed with the City Council on February 4,2019.A copy of this policy is available at the office of the City Clerk.The investment program herein shown provides sufficient cash flow liquidity to meet the next six month's obligations. Market Values provided by Union Bank via Interactive Data Corporation. Alisa Backstrom,CITY TREASURER Reporting period 03/01/2020-0313112020 Portfolio CITY AP Run Date:041=020-13:05 PM(PRF_PM1)7.3.0 Report Ver.7.3.6.1 73 City of Huntington Beach Portfolio Management Page 1 Portfolio Details-Investments March 31,2020 CUSIP Investrnerd# Issuer Average Purchase Stated YiM Days to Maturity -- Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Federal Agency Issues-Coupon 3133EGEV3 4140 Federal Farm Credit Bank 06/15/2016 5,000,000.00 5,000,600.00 5,000,000.00 1.620 AA 1.620 439 06/14/2021 3133ECHXS 4292 Federal Farm Credit Bank 05/2312DIS 5,000,000.00 5,325,400.00 5,004,438.61 2.260 AA 2.236 1,442 03/13/2024 3133EKTG1 4296 Federal Farm Credit Bank OW01/2019 5,000,000.00 5,130,150m 4,992,312.50 1.750 1.821 B21 07/01/2022 313383OR5 4281 Federal Home Loan Bank 12/20/2018 5,000,000.00 5,433,150.00 5,075,629.58 3.260 2.743 1,164 06109/2023 3130AFV✓XI 4285 Federal Home Loan Bank 0226/2019 5,000,000.00 5.321,950.00 5,000,000.00 2.550 2.550 1,154 05/30/2023 3130AIW95 4297 Federal Home Loan Bank 0627/2019 5,000,000.00 5,110,150.00 5,023,912.64 2250 1.840 436 06111/2021 3134GAUB8 4156 Federal Home Loan Mort Corp 11/22/2016 5,000,000.00 5,008,450.00 5,000,000.00 1.650 AA 1.650 600 11/22/2021 3134G9N94 4257 Federal Home Loan Mort Corp 06/14/2017 5,000,ODO.00 5,085,750.00 5,009,629.13 1.876 AA 1.723 482 0727/2021 3134G92Y2 4258 Federal Home Loan Mort Corp 06/14/2017 5,000,OD0.00 5,097,400.00 5,009,37219 1.875 AA 1.733 503 O&1712021 3137EAEN5 4287 Federal Home.Loan Mort Corp 03/08/2019 3,0010,000.00 3,213,960.00 3,027,278,00 2.750 2.450 1.174 06/19/2023 3137EAEN5 4288 Federal Home Loan Mort Corp 03114/2019 3,000,000.00 3,213.960.00 3,028.493.59 2.750 2437 1.174 06/19/2023 3134GUA42 4302 Federal Home Loan Mort Corp 12/2312019 5,000,000.00 5,015,150.DO 5,000,000.00 1.800 1.800 905 09/232022 3134GUC32 4303 Federal Home Loan Mort Corp 1220/2019 5,000,ODO.00 5,013,350.00 5,000,000.00 2.000 2.000 1.540 06119/2024 3134GU5T3 4304 Federal Home Loan Mort Corp O1/30/2020 3,000,000.00 3,026,580.00 3,000,000.00 1.875 1,875 1,764 0129/2025 3134GVARS 4305 Federal Home Loan Mort Corp 02/14/2020 5,000,000.00 5,018,550.00 5.000,000.00 1.900 AA 1,900 1,780 02/1412025 3136G3SN6 4143 Fed.Nafl Mort Assoc. 06/23/2016 3,000,000.00 3,008,040.00 3,Do0,000.00 1.500 AA 1.500 266 12/23/2020 3135GOU43 4289 Fed.Nat'l Mort Assoc. 03/15/2019 5,000,000.00 5,390,000.00 5,066,46296 2.875 2.465 1,259 09/12/2023 3136G4UM3 4307 Fed.Nat'l Mort.Assoc. 02/25/2020 5,000,000.00 5,030,100.00 5,D00,000.00 1.800 AA 1.800 1,699 11/25/2024 Subtotal and Average 102,732,593.71 82,000,000,00 84,442,690.00 82,237,52920 2.804 1,OZ8 Local Agency Investment Funds SYS982 982 Laif City 56,932,525.69 56,932,525.69 56,932,525.69 1.787 1.787 1 Subtotal and Average 49,513,170,85 56,932,525.69 56,932,626.69 56,932,525.69 1.787 1 Treasury Securities-Coupon 912629XY1 4269 US Treasury Notes 08/01/2018 5,000,000.00 5,029,800.00 4,998,261.80 2500 2.645 90 06/302020 912828XU9 4270 US Treasury Notes 08/102018 5,ODO,000.00 5,014,450.00 4,988,844.44 1.500 2.620 75 06/15/2020 912828XHS 4282 US Treasury Notes 12/20/2018 5,0DO,000.00 5,018.950.00 4,987,903.23 1.625 2,632 90 06/3012020 912828YH7 4298 US Treasury Notes 12/05/2019 5,000,000.00 5,253,900.00 4,979,474.16 1.5Do AAA 1.595 1,643 09/3D/2024 91282SP79 4299 US Treasury Notes 12/05/2019 3,000,000.00 3,106,890.00 2,993,671.28 .1.500 AAA 1.574 1,063 02(28/2023 Subtotal and Average 22,943,341.28 23,000,000.00 23,423,990.00 22,948,164.91 2269 551 Medium Term Notes 4581X0CP1 4268 Inter-Amedoan Dev.Bank 08/02/2018 7,000,000.00 7,013,230.00 6,988,121.29 1.875 2.715 76 06/1 W2020 45818WBX3 4290 Inter-American Dev,Bank 03/28/2019 4,000,000,00 4,272,160.00 4,075,017.32 2.870 2.270 1,205 07/20/2023 45818WBYI 4291 Inter-American Dev.Bank 032MO19 5,000,000.00 5,350,850.00 5,110,D66.06 2.960 2271 1,232 08/162023 Portfolio CITY Run Date:04222020-13;05 AP PM(PRF_PM2)7.3.0 Report yen.Z3.6.1 City of Huntington Beach Portfolio Management Paget Portfolio Details-Investments March 31,2020 CUSIP Investment# Issuer Average Purchase Stated Y7M Daysto Maturity Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Medium Term Notes 459058HG1 4301 Intl Sk Recon&Development 12 16/2019 5,000,OD0.00 5,033,750.00 5,006,524.99 2,200 AAA 2.015 1,636 09/23/2024 Subtotal and Average 21,179,720.50 21,000,000.00 21,669,990.00 21,179,729.66 2.367 941 Corporate Bonds 037833AR1 4262 Apple Inc 06126/2017 5,000,000.00 5,049,200.00 5,045,709.17 2.850 AA 1.980 400 05/06/2021 166764AH3 4294 Chevron Corp 05/24/2019 5,000,000.00 5,226,750.00 5,095,334.35 3.191 AA 2.528 1.179 06/24/2023 254687CR5 4300 Disney 12/1612019 2,875,0D0.00 3,072,253.75 3,060,76923 4.000 2.070 1,278 10/01/2023 437076BG6 4293 Home Depot Inc 05/24/2019 5,000,000.00 5,087,D00.00 5,015,248.39 2625 A 2A74 791 06/01/2022 459200HG9 4274 IBM Corp D9/28/2018 3,000,000.00 3,026,820.00 2,906,160.52 1.875 A 3.257 852 08/01/2022 46625HRT9 4283 JP Morgan 01/312019 2,500,000.00 2,505,150.00 2,480,689.01 2.400 3.081 432 06/07/2021 713448CX4 4280 PEPSICO INC 12/21/2018 5,000,000.00 5,201,200.00 4,993,480.64 3.100 3.160 837 07/17/2022 69353RFC7 4267 PNC BANK 06/25/2018 5,000,000.00 4,993,350.00 4,993,052.63 2000 3.080 48 05/19/2020 69353REP9 4271 PNC BANK 08/13/2018 1,000,000.00 1,000,050.00 998,820.37 2.300 3.031 61 D6/01/2020 828807DBO 4272 Simon Property Group 0921/2018 3,000,000.00 2,954,670.00 2,949,931.92 2625 A 3239 805 06/15/2022 882508BAl 4279 Texas Instruments Inc 12/212018 5,000,000.00 5,096,400.00 4,877,379.25 1.550 3.564 774 05/15/2022 904764AW7 4286 Unilever 03/0112019 5,000,000.00 4,929,550.0D 4,939,989.77 2.200 2.802 764 05/05/2022 90331HNV1 4306 US Bank NA Cincinnati 02/212020 2,000,000,00 2,098,540.00 2,108,192.42 3.400 AA 1.671 1,209 07/24/2023 Subtotal and Average 49,462,272.38 49,375,000.00 50,240,933.75 49,464,757.67 2.774 736 Total and Average 245,831,098.72 232,307,525.69 236,710,129.44 232,762,697.13 2.173 660 Portfolio CITY Run Date:047222020.73:05 AP PM(PRF PM2)7.3.0 75 City of Huntington Beach Portfolio Management Page3 Portfolio Details-Cash March 31,2020 Purchase Stated YTM Days to CUSIP InvestmeM#1 Issuer Average Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Average Balance 0.00 Accrued Interest at Purchase 29,492.36 29,492.36 0 Subtotal 29,492.36 2%492.36 Total Cash and Investments 245,931,099.72 232,307,525.69 236,739,621.80 232,792,189.49 1173 660 Portfolio GTY Run Gate:0422I2020.13:05 AP PM(PRP PM2)7.3.0 76 _... ....._. '- ___.. . ......... .... ........... .__ .._.. .._ ... .. ......... City of Huntington Beach Portfolio Management Page 1 Activity By Type March 1,2020 through March 31,2020 Stated Transaction Purchases Redemptions CUSIP Investment# Issuer Rate Date or Deposits or Withdrawals Balance Federal Agency Issues-Coupon 3130A8DC4 4138 Federal Home Loan Bank 1.6D0 03/3=020 0.00 2,250.000.D0 3134G9E78 4149 Federal Home Loan Mort Corp 1280 0313=020 0.00 5,000;000.D0 3134G9C54 4150 Federal Home Loan Mort Corp 1.500 03/30/2020 0.00 4,655,000.00 3136G3SJ5 4141 Fed.NaCl Mort.Assoc. 1.500 03/30/2020 0.00 4,999,687.50 3136G3UT0 4146 Fed.Narl Mort Assoc. 1.500 03130/202D 0.00 5,00,000.00 Subtotal 0.00 21,904,687.50 82,237,529.20 Local Agency Investment Funds (Monthly Summary) SYS982 982 Laif City 1.787 22,000,000.00 15,000,000.00 Subtotal 22,000,000.00 15,000,000.00 56,932,526.69 Treasury Securities-Coupon Subtotal 22,948,154.91 Medium Term Notes Subtotal 21,179,729.66 Corporate Bonds 494368BP7 4164 Kimberly Clark Corp 1.850 03/01/2020 0.00 2,D00,000.00 Subtotal 0.00 2,000,000.00 49,464,757.67 Total 22,000,000.00 38,904,687.50 232,762,697.13 Portfolio CITY AP Run Date:04r=020-13:05 PM(PRP PM3)7.3.0 Report Ver.7.3.9.1 77 City of Huntington Beach Portfolio Management page 1 Activity Summary March 2019 through March 2020 Yield to Maturity Managed Number Number Month Number of Average 360 365 Pool of Investments ofinvestments Average Average End Year Securities Balance Equivalent Equivalent Rate Purchased Redeemed Term Days to Maturity March 2019 53 239,114,873.33 2.101 2.130 2.436 6 2 1,268 743 April 2019 52 245,334,343.80 2A08 2.137 2.445 0 1 1,141 634 May 2019 53 265,615,018.09 2.135 2.165 2.449 3 2 1,162 669 June 2019 49 248,814,733.00 2.198 2.228 2A28 2 6 1,115 680 July 2019 49 245,748,358.62 2,177 2.207 2.379 1 1 1,240 743 August 2019 48 224,277,639.58 2,173 2.204 2.341 0 1 1,331 774 September 2019 48 214,523,919.98 2,199 2.229 2.280 0 3 1,303 743 October 2019 45 213,459,526.87 2.204 2235 2,190 0 1 1,272 699 November 2019 44 214,597,017,12 2.207 2,238 2,103 0 1 1,203 647 December 2019 49 225,972,763.68 2.161 2.191 2.043 6 2 1,171 685 January 2020 48 253,767,638.58 2.117 2A46 1.967 1 2 1,043 597 February 2020 49 250,234,023,87 2.115 2,145 1.912 3 2 1,106 669 March 2020 47 245,831,098.72 2.143 2.173 1.787 0 6 1,016 660 Average 49 237,485,8S5,29 2.157% 2.197% 2.212 2 2 1,182 688 Portfolio CITY Run Date:041121x020-73:06 AP PM(PRF PM4)7.3.0 Report Ver.7.3.6.1 78 City of Huntington Beach Portfolio Management Page 1 Interest Earnings Summary March 31,2020 March 31Month Ending Fiscal Year To Date CD[CoupontOiscountInvestments: Interest Collected 288,577.42 3,381,460.34 Plus Accrued Interest at End of Period 939,939.07 917,689.07 Less Accrued Interest at Beginning of Period ( 874,121.02) Less Accrued Interest at Purchase During Period ( 0.00) ( 1,045,44 0.00) . { ) Interest Earned during Period 354,395.47 3,253,699.63 Adjusted by Premiums and Discounts 7,622.32 89,495.60 Adjusted by Capital Gains or Losses 312.50 -1,348.36 Earnings during Periods 362,330.29 3,341,846.87 Pass Through Securities: Interest Collected 0.00 0.00 Plus Accrued Interest at End of Period 0.00 0.00 Less Accrued Interest at Beginning of Period ( o.00) ( 0.00) Less Accrued Interest at Purchase During Period { 0.00) { 0.00) Interest Earned during Period 0.00 0.00 Adjusted by Premiums and Discounts 0.00 0.00 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 0.00 0.00 Cash/Checking Accounts: Interest Collected 0.00 469,582.09 Plus Accrued Interest at End of Period 218,616.68 218,616.68 Less Accrued Interest at Beginning of Period { 143,469.25) ( 199,303.67) Interest Earned during Period 75,147.43 488,895.10 Total Interest Earned during Period 429,642.90 3,742,594.73 Total Adjustments from Premiums and Discounts 7,622.32 89,495.60 Total Capital Gains or Losses 312.50 -1,348.36 Total Earnings during Period 437,477.72 3,830,741.97 Portfolio CITY Run Date:04R7R020-13:05 AP PM(PRF_PM6)7.3.0 Repo(V-7.3.6.1 79 o����NVESrMFr State of California w ,o Pooled Money Investment Account Market Valuation IlaU D5�y�0 3/31/2020 Carrying Cost Plus Description Accrued Interest Purch. Amortized Cost Fair Value Accrued Interest 1* United States Treasury: Bills $ 12,823,871,548.59 $ 12,920,450,177.77 $ 12,994,847,000.00 NA Notes $ 33,119,951,799.65 $ 33,113,778,380.29 $ 33,687,518,000.00 $ 140,637,607.00 1* Federal Agency: SBA $ 525,135,261.64 $ 525,135,261.64 $ 522,232,337.71 $ 880,056.18 MBS-REMICs $ 18,063,052.24 $ 18,063,052.24 $ 19,088,647.00 $ 84,337.25 Debentures $ 2,105,162,090.64 $ 2,105,042,298.98 $ 2,132,896,450.00 $ 10,524,714.25 Debentures FR $ - $ - $ - $ Debentures CL $ 925,000,000.00 $ 925,000,000.00 $ 929,988,750.00 $ 3,544,917.00 Discount Notes $ 17,515,361,340.24 $ 17,575,787,257.02 1 17,620,985,750.00 NA 1* Supranational Debentures $ 714,280,614.68 $ 714,249,336.90 $ 721,116,650.00 $ 2,940,049.25 1* Supranational Debentures FR $ 200,158,861.65 $ 200,158,861.65 $ 200,117,030.04 $ 608,243.35 2* CDs and YCDs FR $ 300,000,000.00 $ 300,000,000.00 $ 299,053,000.00 $ 292,521.92 2* Bank Notes $ 500,000,000.00 $ 500,000,000.00 $ 500,078,465.32 $ 4,119,416.67 2* CDs and YCDs $ 13,300,000,000.00 $ 13,300,000,000.00 $ 13,305,153,219.71 $ 66,002,000.01 2* Commercial Paper $ 10,115,069,047.16 $ 10,145,768,286.22 $ 10,145,738,569.17 NA 1* Corporate: Bonds FR $ _ $ _ $ _ $ _ Bonds $ _ $ _ $ _ $ _ 1* Repurchase Agreements $ - $ _ $ _ $ 1* Reverse Repurchase $ - $ _ $ _ $ _ Time Deposits $ 5,331,990,000.00 $ 5,331,990,000.00 $ 5,331,990,000.00 NA AB 55 & GF Loans $ 624,194,000.00 $ 624,194,000.00 $ 624,194,000.00 NA TOTAL $ 98,118,237,616.49 $ 98,299,616,912.71 $ 99,034,997,868.95 1 $ 229,633,862.88 Fair Value Including Accrued Interest $ 99,264,631,731.83 * Governmental Accounting Standards Board (GASB)Statement#72 Repurchase Agreements, Time Deposits, AB 55& General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value(carrying cost). The value of each participating dollar equals the fair value divided by the amortized cost(1.007481015). As an example: if an agency has an account balance of$20,000,000.00, then the agency would report its participation in the LAIF valued at$20,149,620.31 or$20,000,000.00 x 1.007481015. 80 Statement of Cash Receipts and Disbursements and Summary of Cash by Fund Finance Department March 2020 Cash Receipts and Disbursements February 2020 March 2020 Receipts General Fund Property Tax $ 176,608 $ 4,731,926 Local Sales Tax 4,485,067 2,691,922 Public Safety Sales Tax 200,818 282,654 Transient Occupancy Tax(TOT) 871,115 937,250 Utility Users Tax(UUT) 1,596,383 1,611,975 Other Revenue 4,432,815 5,277,310 Total General Fund Revenue 11,762,806 15,533,037 Total All Other Funds Revenue 10,189,457 15,878,858 Total Receipts $ 21,952,263 $ 31,411,896 Disbursements General Fund Personal Services (10,260,400) (10,126,612) Operating Expenses (2,723,815) (2,796,499) Capital Expenditures (17,814) Non-Operating Expenses (138,467) (155,828) Total General Fund Disbursements (13,122,682) (13,096,752) Total All Other Funds Disbursements (9,833,791) (14,765,684) Total Disbursements (22,956,473) (27,862,436) Net Change in Cash Flow $ (1,004,209) $ 3,549,460 Summary of Cash by Fund February 2020 March 2020 General Fund 63,675,414 $ 66,111,700 General Fund Other 4,119,626 4,088,642 Capital Projects Funds 23,424,929 23,027,949 Debt Service Funds 3,779,195 3,779,195 Enterprise Funds 80,178,018 82,061,127 Trust and Agency Funds 14,625,823 14,143,956 Internal Service Funds 30,004,462 28,704,696 Special Revenue Funds 41,836,981 43,276,643 General Ledger Cash Balances $ 261,644,449 $ 265,193,909 Total cash will differ from investment portfolio total due to outstanding checks and/or other timing differences. Note: Above information was obtained from the City's accounting system records.The above information includes receipts from maturing investments and payments for purchased investments in the city investment portfolio.This statement is prepared in compliance with the City's Charter. 81 A1bT ►sGuss�D C City of Huntington Beach File #: 20-1512 MEETING DATE: 3/16/2020 City Treasurer's Update on Economic Markets and Interest Rates City of Huntington Beach Page 1 of 1 Printed on 3/13/2020 powerec4 LegistarT" N W LL U L °- �J m U w Cn o Q � � O W CO CO (1) � cn cc �, > Q 4-1 4� w V) cc o In O 4—J U u W - m m � � Q 4� c� U Cl) N LL C U b.0 � 0 w U O E I co O O }, 4c/)- N `� V ? -0 o ca O w O � Ln J U 4- a--j U N +, W 00 O .U U-1 U 4- O ,C: N \ O v 01 Q � bD c l) V w ca C: N N � � `�' Q) cc O N V) C: Ln a)Q� bD � ca U O Lnn i" N � .� `n O O U N Ln Ln 4-j C� Q) I .� ,> I F— L- O U U O � U ,� can O O +j _ � ca O •— cn J ca U Z Z a- CN N U •- -C o LLJ Q .N O o U v O 0 _ i V) }, ca m c� 'u Q- N o .� C6 .� -0 — ouw a) U c u X o +� rn a� cm E o � > a o u •� Q � U +-+ C: n E (� sz 4- S` � •— i O +6 n 4 O � ° ° .� + ro v co L- •- L�- aA Ln o 0- i v . }, + +-� cn O N p O N +, o � .� � � n p � C6 E I s= M� O m co= o 0 � O u +U O W 0 O n x I-- Co .— o }, -�-� O O v O aj co Q) Q a� I I -J co \ F.- O rO O N •— ca E O O c -I� CAA Q U .c .� N > N N Igo FZ:Ln 0- -a N CO L n .N L Q� U O S✓ 0 �— U c/. i � z LO N I� Ln I �- r j N Ln O 00 m al O N u Ln u d Q ca O CO N O by N =3 CY) 3, #;, U ' 4-J Ln cu N LO L r_ a a� O M O v E O O Ov > ca O co 0 V) O CL _ -�--� _0 U r E a--+ x r O Ln +J 0- Ax N W W V) bn u-� L -0 co � a--1 M —J. O . _ Q Q w o m m w � o • • m I o0 0 N m O: I c a Q ro o(D N 0 N O = - Z O LO nUlc Xo o ea o .� O N L WC/ / J V � c6 L V) U �. r,n O V) cfi u o � Ln o (U - o E O `n N O O Q o 4-J E tb.A j O •— Q) O V) 4-j 4-J OC _ V) — c6 -0 r N (� v LL N N DC J No o L.- C: 1 (a) Ln 4--j • • W 1 N :3 :3 L —1 i n N N > O LL N Q 4-J . . 0 4-J •� o �- .6 >• m o r-I 07 0 > o o ri O L �� N � Q •- Q 0 • > J C .� E 0 .O V) o N O G �_ •� �--j w -.2 0 Ln N = II Q- s` p p O +-i Q +� h n �-_1 4-0 L .° .0 o f ° o a) a a > V)- G W > 4A �--j � 0 .L U E ° rq i Ix Q) aJ N N O tc10 ; > Ln L LJ — O i- bA rl (� s` •— o\° Ln can u � O •— \ E -� ° m _ Q) •O b O O .0 can " •n can +�--+ hA 3 0 4-1 f0 � _0 O ��., .O cm Q • 0 s • m E co N 4-M oo U 4-J C: 4-+ L Ul) O .a-+ +-) E o ° 0 o � 2 o O ' > N U C: . _ � O N n m �O O U +-+ N aA E +� � N '� X ° ° N (D _ — �` � � _0 Cu M U = > Ca Qj O .� o a- j •� =3 •� v) 16 O a- + N C: > .� m O O O O O > .I U U U U U 2 M�P/ ( VED 7 City of Huntington Beach File #: 20-1309 MEETING DATE: 2/3/2020 REQUEST FOR CITY COUNCIL ACTION SUBMITTED TO: Honorable Mayor and City Council Members SUBMITTED BY: Oliver Chi, City Manager PREPARED BY: Alisa Backstrom, City Treasurer Subject: Receive and File the City Treasurer's December 2019 Quarterly Investment Summary Report Statement of Issue: Receive and File the City Treasurer's Quarterly Investment Report for December 2019, pursuant to Section 17.0 of the Investment Policy of the City of Huntington Beach. Financial Impact: Not Applicable. Recommended Action: Receive and File the City Treasurer's Quarterly Investment Report for December 2019, pursuant to Section 17.0 of the Investment Policy of the City of Huntington Beach. Alternative Action(s): Deny or Critique Quarterly report Analysis: Not Applicable Environmental Status: Not Applicable Strategic Plan Goal: Strengthen long-term financial and economic sustainability Attachment(s): 1. Treasurer's Quarterly Investment Report for December 2019 2. Treasurer's PowerPoint Presentation for December 2019 City of Huntington Beach Page 1 of 1 Printed on 1/29/2020 powered LegistarT°' / City of Huntington Beach Quarterly Investment Report October - December, 2019 Prepared by: Alisa Backstrom, MBA, CCMT, CPFIM City Treasurer Colin Stevens, MPP Treasury Associate 20 PORTFOLIO SUMMARY AS OF: December 31, 2019 Investment Type $ in 000's Market Value Book Value %of Portfolio Federal Agency Issues $ 106,870 $ 106,165 44.3% Local Agency Investment Fund(LAIF) $ 34,801 $ 34,801 14.5% Medium Term Notes-IADB, IBRD $ 21,351 $ 21,180 8.9% Corporate Bonds $ 55,224 $ 54,336 22.7% Commercial Paper $ - $ - - Treasury Securities 22,967 22,919 9.6% TOTAL $ 241,213 $ 239,401 100.0% PORTFOLIO BREAKOUT BY TYPE % of Total Portfolio Treasury Securities,9.6% Federal Agency 4 Issues, 44.3% Corporate Bonds, 22.7% Medium term Notes- iADB,IBRD 8.9% Local Agency Investment Fund, 14.5% 21 PORTFOLIO EARNINGS AS OF: December 31, 2019 Total Earnings Month: December % Chg Fiscal YTD % chg Current Year $ 41:6,454 -�fl 15 $ 2,483,706 1 -30% Current Budget $ 300,000 $ 1,800,000 Last Year Actual $ 362,343 $ 1,913,783 Average Daily Balance $ 225,972,764 $ 223,189,321 Effective Rate of Return 2.17% 2.21% Benchmark* 2.00% n/a 12-month moving average of interpolated 1.5-year treasury PORTFOLIO ACTIVITY: MONTH - DECEMBER MONTHLY ACTIVITY: December 2019 Investment Type Purchases/ Calls/Maturities,] $ in 000's Deposits Withdrawals Federal Agency Issues $ 10,000 $ 10,000 Local Agency Investment Fund (LAIF) $ 12,000 $ 5,000 Medium Term Notes-18RD $ 5,000 Corporate Bonds $ 2,875 Commercial Paper Treasury Securities 8,000 TOTAL $ 37,875 $ 15,000 `Includes Interest Income PORTFOLIO ACTIVITY: QUARTER QUARTERLY ACTIVITY: October I to December 31, 2019 Investment Type Purchases/ Calls/Maturities/ $ in 000's Deposits Withdrawals Federal Agency Issues $ 10,000 $ 20,000 Local Agency Investment Fund (LAIF) $ 34,116 $ 13,000 Medium Term Notes-18RD $ 5,000 Corporate Bonds $ 2,875 Commercial Paper Treasury Securities $ 8,000 TOTAL $ 59,991 $ 33,000 'Includes Interest Income 22 PORTFOLIO OVERVIEW For the quarter ending December 31, 2019, the market value of the portfolio surpassed the book value of the portfolio at $241.2 million versus $239.4 million, respectively. This was due to the overall decrease in market interest rates, which served to increase the prices (value) of some of the existing securities in the portfolio. This was a reversal of what had occurred earlier in the prior year, when market interest rates had been increasing. Currently, funds within this portfolio are invested in federal agency securities, corporate bonds, the Inter-American Development Bank ("IADB"), the International Bank for Reconstruction and Development ("IBRD"), U.S. Treasury Securities, and the State of California's pooled account (Local Agency Investment Fund "LAIF"). Only the investment types allowed under California Government Code Section 56301 are utilized. As is typical, the largest holding by security type at month-end was federal agencies at approximately 45% of the total overall portfolio. Earnings for the month of December were $416,454, an increase of 15% from the previous year. As well, fiscal year-to-date earnings of$2,483,706 were also up from the previous year by 30%. This solid increase in earnings was due to the higher interest rates, as well as due to following a consistent and targeted investment strategy. The effective rate of return for the month was 2.17%, with a fiscal year-to-date return of 2.21%. This is in-line with the benchmark of the 12-month moving average of the interpolated 1.5-year U.S. Treasury of 2.00% for the month of December. The portfolio is in conformity with all relevant State regulations and the City's Investment Policy statement as approved by the City Council on February 4, 2019. The investment program herein shown provides sufficient cash flow liquidity to meet the next six months' obligations. SELECTED COMPLIANCE REQUIREMENTS MAXIMUM INVESTMENT MAXIMUM SPECIFIED % OF MINIMUM QUALITY IN TYPE MATURITY PORTFOLIO/ REQUIREMENTS COMPLIANCE MAXIMUM PER ? ISSUER Commercial Paper 270 days 25%/10% Al, "A" Rating YES State Obligations— o „ CA And Others 5 years None110% A Rating YES U.S.Treasury Obligations 5 years None None YES U.S. Government A enc Obligations 5 years None None YES IBRD, IFC, IADB 5 years 10% "AA" Rating YES Corporate Notes 5 years 30%/1 0% "A" Rating YES Local Agency Investment Fund N/A Up to $65,000,000 None LAIF YES Maximim Maturities No more than 50%of portfolio maturing over 4 years. YES 23 SUPPLEMENTAL INFORMATION ADDITIONAL ACCOUNT BALANCES: Ending Balance Market Values: 9-30-19 Total Deferred Compensation Plan Balances $150,976,248 CalPERS Retiree Medical Trust Account $29,765,494 US Bank Supplemental Pension Trust Account $58,928,911 PARS Post Employment Benefits 115 Trust Account $7,330,991 Bond Reserve Accounts $10,724,475 (Due to delay in statement receipt,amounts are from previous quarter end ECONOMIC AND MARKET OVERVIEW MARKET SUMMARY: OCTOBER - DECEMBER 2019 Fed Funds 10-Yr. As of: Rate Treasury S&P 500 DJIA 10/31/2019 1.50- 1.75 % 1.69% $ 3,037.56 $ 27,046.23 11/30/2019 1.50 - 1.75% 1.78% $ 3,140.98 $ 28,051.41 12/31/2019 1.50 - 1.75% 1.92%l0 3,230.78 28,462.14 Nov- Dec %Change none 7.87% 2.86% 1.44% The Federal Open Market Committee (FOMC) met in December to discuss the current state of the economy and to examine potential future interest rate adjustments. They concluded that the labor market remains strong and that economic activity has been rising at a moderate rate. They stated, "Although household spending has been rising at a strong pace, business fixed investment and exports remain weak. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed." The Committee will continue to monitor actual and expected inflation developments as the year progresses to determine the timing and size of future adjustments to the federal funds rate. In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to maintain the target range for the federal funds rate to 1-1/2 to 1-3/4 percent. The majority of projections for 2020 show no anticipated rate increases. Fixed Income/Equity Markets: The yield on the 10-year U.S. Treasury finished the quarter at 1.92%, up from 1.68% from the end of the previous quarter, for a 14.29% increase quarter over quarter. The S&P 500 increased by 8.5% for the quarter and had an annual gain of 28.9% , its best year since 2013. The DJIA increased 5.74% for the quarter ending in December, with an annual gain of 22.3%. Employment: Total nonfarm payroll employment increased by 145,000 in December, and the unemployment rate was unchanged at 3.5 percent. Over the past 3 months, job gains have 24 averaged 184,000 per month. The labor force participation rate remained relatively unchanged throughout the year at around 63 percent. INTEREST RATE COMPARISON —0 2Yr Tsy —0 6Yr Tsy 0_ 10Yr Tsy Treasury Rates 3.20 3,160 3.120 3.10 3.0 3.000 3.00 2,960 2.910 2.890 2.6 2.8 2.00 2.860 2.8 30 2.60 2.760 2.780 2.7 2.77 2.70 BO 710 2.680 2. 2,610 2.60 670 2.6 � 2.630 2.60 •410 400 2.A0 2.30 p 2,20 8 2,10 70 2.060 2,00 1.860 1.81 t.88 1,T00 1.7 e.10 60 1.680 1 3 1 0 1,610 1,60 7 1.67 1 t.60 t,80 After rising through the end of 2018, the 2-year, 5-year and 10-year rates then fell and converged through August of 2019. The 2-year and 5-year rates remained very close in 2019, while shorter- term interest rates moved higher as the yield curve inverted slightly. Treasury rates increased slightly from their August lows and the Treasury curve normalized. 25 City of Huntington Beach City of HB 2000 Main St. Portfolio Management Huntington Beach, Portfolio Summary October 31, 2019 Par Market Book %of Days to YTM YTM Investments Value Value Value Portfolio Term Maturity 360 Equiv. 366 Equiv. Federal Agency Issues-Coupon 110,905,000.DO 112,070,945.3D 111,180,762.06 52.86 1,593 825 1.906 1.932 Local Agency Investment Funds 16,801,205.55 16,801,205.55 16,801,205.55 7.99 1 1 2.160 2.190 Treasury Securities-Coupon 15,000,000.00 15,025,600.00 14,929,035.15 7.10 644 237 2.596 2.632 Medium Term Notes 16,000,000.00 16,393,350.00 16,172,499.58 7.69 1,200 879 2.428 2.462 Corporate Bonds 51,500,000.00 52,214,595.00 51,240,601.68 24.36 1,196 731 2.680 2.717 210,206,205.55 212,505,695.85 210,324,104.02 100.00% 1,272 699 2.204 2.235 Investments Cash and Accrued Interest Accrued Interest at Purchase 5,000.00 5,000.00 Subtotal 5,000.00 5,000.00 Total Cash and Investments 210,206,205.55 212,510,695.85 210,329,104.02 1,272 699 2.204 2.235 Total Earnings October 31 Month Ending Fiscal Year To Date Fiscal Year Ending Current Year 398,287.98 1,669,012.43 Current Budget 300,000.00 1,200,000.00 3,600,000.00 Last Year Actual 320,151.07 1,213,902.92 3,452,705.61 Average Daily Balance 213,459,526.87 224,583,486.8D Effective Rate of Return 2.20% 2.21% 1 certify that this report accurately reflects all City pooled investments and is in conformity with all State laws and the investment policy statement filed with the City Council on February 4,2019.A copy of this policy is available at the office of the City Clerk.The investment program herein shown provides sufficient cash flow liquidity to meet the next six month's obligations. Market Values provided by Union Bank via Interactive Data Corporation. Alisa Backstrom,CITY TREASURER Reporting period 1010112019-10/3112019 Portfolio CITY AP Run Date:01/06/2020-15:57 PM(PRF_PM1)7.3.0 Report Ver.7.3.6.1 26 City of HB Portfolio Management Page 1 Portfolio Details - Investments October 31, 2019 Average Purchase Stated YTM Days to Maturity CUS1P Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Federal Agency Issues-Coupon 3133EGEV3 4140 Federal Farm Credit Bank 06/15/2016 5,000,000.00 4,971,750.00 5,000,000.00 1.620 AA 1.620 591 06/14/2021 3133ECHX5 4292 Federal Farm Credit Bank 05/23/2019 5,000,000.00 5,150,150.00 5,004,906.82 2.260 AA 2.236 1,594 03/13/2024 3133EKTG1 4296 Federal Farm Credit Bank 07/01/2019 5,000,000.00 5,035,400.00 4,990,888.89 1.750 1.821 973 07/01/2022 3130A8DC4 4138 Federal Home Loan Bank 06/30/2016 2,250,000.00 2,244,577.50 2,250,000.00 1.600 AA 1.600 425 12/30/2020 3130AST94 4153 Federal Home Loan Bank 08/10/2016 5,000,000.00 5,000,300.00 5,000,000.00 2.000 AA 1.525 283 08/10/2020 313383QR5 4281 Federal Home Loan Bank 12/20/2018 5,000,000.00 5,303,050.00 5,085,511.50 3.260 2.743 1,316 06/09/2023 3130AFTA5 4284 Federal Home Loan Bank 01/30/2019 5,000,000.00 5,014,800.00 5,000,000.00 3.050 3.050 1,551 01/30/2024 3130AFWXI 4285 Federal Home Loan Bank 02/26/2019 5,000,000.00 5,165,050.00 5.000,000.00 2.550 2.550 1,306 05/30/2023 3130A1W95 4297 Federal Home Loan Bank 06/27/2019 5,000,000.00 5,049.400.00 5,032,254.26 2.250 1.840 588 06/11/2021 3134G9E78 4149 Federal Home Loan Mort Corp 06/30/2016 5,000,000.00 4,987,500.00 5,000,000.00 1.280 AA 1.280 334 09/30/2020 3134G9C54 4150 Federal Home Loan Mort Corp 06/30/2016 4,655,000.00 4,630,607.80 4,655,000.00 1.500 AA 1.500 607 06/30/2021 3134GAUB8 4156 Federal Home Loan Mort Corp 11/22/2016 5,000,000.00 4,993,650.00 5,000,000.00 1.650 AA 1.650 752 11/22/2021 3134GBNN8 4256 Federal Home Loan Mort Corp 05/30/2017 5,000.000.00 5,000,250.00 5,000,254.28 1.750 AA 1.744 301 08/28/2020 3134G9N94 4257 Federal Home Loan Mort Corp 06/14/2017 5.000,000.00 5,025,800.00 5,012,663.52 1.875 AA 1.723 634 07/27/2021 3134G92Y2 4256 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5,023,550.00 5,012.206.52 1.875 AA 1.733 655 08/17/2021 3134GBTS1 4261 Federal Home Loan Mort Corp 06/29/2017 5,000,000.00 5,003,550.00 5,000.000.00 2.125 AA 2.125 971 06/29/2022 3137EAEN5 4287 Federal Home Loan Mort Corp 03/08/2019 3,000,000.00 3,126,540.00 3,030,811.42 2.750 2.450 1.326 06/19/2023 3137EAEN5 4288 Federal Home Loan Mort Corp 03/1412019 3,000,000,00 3,126,540.00 3,032,184.47 2.750 2.437 1,326 06/19/2023 3136G3SJ5 4141 Fed.Nat'l Mort Assoc. 0613012016 5,000,000.00 4,990,900.00 4,999,584.03 1.500 AA 1.505 607 06/30/2021 3136G3SN6 4143 Fed.Nat'I Mort.Assoc. 06/23/2016 3,000,000.00 2,993,730.00 3,000,000.00 1.500 AA 1.500 418 12/23/2020 3136G3UT0 4146 Fed.Nat'l Mort Assoc. 06/30/2016 5,000,000.00 4,986,350.00 5,000,000.00 1.500 AA 1.500 425 12/30/2020 3136G3VU6 4147 Fed.Nat1 Mort Assoc. 07/19/2016 5,000,000,00 5,002,100.00 5,000,000.00 2.000 AA 1.825 626 07/19/2021 3136G4HM8 4159 Fed.Nat'l Mort Assoc. 12/02/2016 5,000,000.00 5,001,200.00 5,000,000.00 1.950 AA 1.950 762 12/02/2021 3135GOU43 4289 Fed.Narl Mort Assoc. 03/15/2019 5,000,000.00 5,244.200.00 5,074,496.35 2,875 2.465 1,411 09/1212023 Subtotal and Average 115,377,904.44 110,905,000.00 112,070,945.30 111,180,762.06 1.932 825 Local Agency Investment Funds SYS982 982 Laif City 16,801,205.55 16,801,205,55 16,801,205.55 2.190 2.190 1 Subtotal and Average 15,749,027.68 16,801,205.55 16,801,205.55 16,801,205.55 2.190 1 Treasury Securities-Coupon 912828XY1 4269 US Treasury Notes 08/01/2018 5,000,000.00 5,028,150.00 4,995,326.18 2.500 2.645 242 06/30/2020 912828XU9 4270 US Treasury Notes 08/10/2018 5,000,000.00 4,997,450,00 4,966,235.85 1.500 2.620 227 06/15/2020 912828XH8 4282 US Treasury Notes 12/20/2018 5,000,000.00 5,000,000.00 4,967,473.12 1.625 2.632 242 06/30/2020 Subtotal and Average 14,924,498.21 15,000,000.00 15,025,600.00 14,929,035.15 2.632 237 Portfolio CITY AP Run Date:D1/D6/2020-15:57 PM(PRF PM2)7.3.0 Report Ve 77.3.6.1 City of HB Portfolio Management Page 2 Portfolio Details -Investments October 31, 2019 Average Purchase Stated YTM Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity pate Medium Term Notes 4581XOCP1 4268 Inter-American Dev.Bank 08/02/2018 7,000,000.00 7.001,890.00 6.964,363.87 1.875 2.715 228 06/16/2020 45818WBX3 4290 Inter-American Dev,Bank 03/28/2019 4,000,000.00 4,170,160.00 4,084,481.24 2.870 2.270 1,357 07/20/2023 45818WBY1 4291 Inter-American Dev.Bank 03128/2019 5,000,000.00 5,221,300.00 5,123,654.47 2.960 2.271 1,384 08/16/2023 Subtotal and Average 16,172,433.62 16,000,000.00 16,393,350.00 16,172,499.58 2.462 879 Corporate Bonds 037833AR1 4262 Apple Inc. 06/26/2017 5,000,000.00 5,080,650.00 5,063.067.09 2.850 AA 1.980 552 05/06/2021 06406HCZO 4155 Bank of New York 10/24/2016 5,000,000.00 5,003,450.00 5,008,107.75 2.150 A 1.617 115 02/24/2020 166764AH3 4294 Chevron Corp 05/24/2019 5,000,000.00 5,223,900.00 5,107,630.27 3.191 AA 2.528 1,331 06/24/2023 437076BG6 4293 Home Depot Inc 05/24/2019 5,000,000.00 5,110,000.00 5,018,180.77 2.625 A 2.474 943 06/01/2022 459200HG9 4274 IBM Corp 09/28/2018 3,000,000.00 2,996,620.00 2,889,403.47 1.875 A 3.257 1,004 08/01/2022 46625HRT9 4283 JP Morgan 01/31/2019 2,500,000.00 2,519,075.00 2,473.889.36 2.400 3.081 584 06/07/2021 494368BP7 4164 Kimberly Clark Corp 12/28/2016 2,000,000.00 1,999,200.00 1,998.983.73 1.850 A 2.008 121 03/01/2020 713448CX4 4280 PEPSICO INC 12/21/2018 5,000,000.00 5,172,650.00 4,992,296.73 3,100 3.160 989 07/17/2022 69353RFC7 4267 PNC BANK 06/25/2018 5,000,000.00 5,003,350.00 4,971,342.11 2,000 3.080 200 05/19/2020 69353REP9 4271 PNC BANK 08/13/2018 1,000,000.00 1,002,040.00 995,871.30 2.300 3.031 213 06/01/2020 828807DBO 4272 Simon Property Group 09/21/2018 3,000,000.00 3,054,660.00 2,940,473.21 2.625 A 3.239 957 06/15/2022 882508BA1 4279 Texas Instruments Inc 12/21/2018 5,000,000.00 5,000,900.00 4,853,304.49 1.850 3.564 926 05/15/2022 904764AW7 4286 Unilever 03/01/2019 5,000,000.OD 5.048,200.00 4,928,051.40 2.200 2.802 916 05/05/2022 Subtotal and Average 51,235,662.92 51,500,000.00 52,214,595.00 51,240,601.68 2.717 731 Total and Average 213,459,526.87 210,206,205.55 212,605,695.85 210,324,104.02 2.235 699 Portfolio CITY AP Run Date:01/06/2020-15:57 PM(PRF PM2)7.3.0 28 City of HB Portfolio Management Page 3 Portfolio Details -Cash October 31, 2019 Average Purchase Stated YTM Days to CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Average Balance 0.00 Accrued Interest at Purchase 5,000.00 5,000.00 0 Subtotal 5,000.00 5,000.00 Total Cash and Investments 213,459,526.87 210,206,205.55 212,510,695.85 210,329,104.02 2.235 699 Portfolio CITY AP Run Date:01/06/2020-15:57 PM(PRF_PM2)7.3.0 29 City of HB Portfolio Management Page 1 Activity By Type October 1, 2019 through October 31, 2019 Stated Transaction Purchases Redemptions CUSIP Investment# Issuer Rate Date or Deposits or Withdrawals Balance Federal Agency Issues-Coupon 3130AB31-8 4166 Federal Home Loan Bank 2.000 10/27/2019 0.00 5,000,000.00 Subtotal 0.00 6,000,000.00 111,180,762.06 Local Agency Investment Funds (Monthly Summary) SYS982 982 Laif City 2.190 11,115,536.71 8,000,000.00 Subtotal 11,115,536.71 8,000,000.00 16,801,205.55 Treasury Securities-Coupon Subtotal 14,929,035.16 Medium Term Notes Subtotal 16,172,499.58 Corporate Bonds Subtotal 51,240,601.68 Total 11,115,536.71 13,000,OOO.00 210,324,104.02 Portfolio CITY AP Run Date:01/0612020-15:57 PM(PRF PM3)7.3.0 Report Ver.7.3.6.1 30 City of HB Portfolio Management Page 1 Activity Summary October 2018 through October 2019 Yield to Maturity Managed Number Number Month Number of Average 360 365 Pool of Investments of Investments Average Average End Year Securities Balance Equivalent Equivalent Rate Purchased Redeemed Term Days to Maturity October 2018 40 200,610,535.10 1.875 1.901 2.144 1 2 1,214 687 November 2018 43 205,146,929.07 1.923 1.950 2.208 3 0 1,143 624 December 2018 47 214,572,991.48 2.017 2,045 2.291 4 0 1,193 672 January 2019 48 237,888,789.20 2.110 2.140 2.355 2 1 1,100 629 February 2019 49 239,354,027.47 2.108 2.138 2.392 1 0 1,186 667 March 2019 53 239,114,873.33 2A01 2.130 2.436 6 2 1,268 743 April 2019 52 245,334,343.80 2.108 2.137 2A45 0 1 1,141 634 May 2019 53 265,615,018.09 2.135 2.165 2.449 3 2 1,162 669 June 2019 49 248,814,733.00 2.198 2.228 2.428 2 6 1,115 680 July 2019 49 245,748,358.62 2.177 2.207 2.379 1 1 1,240 743 August 2019 48 224,277,639.58 2.173 2.204 2.341 0 1 1,331 774 September 2019 48 214,523,919.98 2.199 2.229 2.280 0 3 1,303 743 October 2019 45 213,459,526,87 2,204 2.235 2,190 0 1 1,272 699 Average 48 230,294,015.77 2.102% 2.131% 2.334 2 2 1,205 690 Portfolio CITY AP Run Date:011OW2020-15:57 PM(PRE PM4)7.3.0 Report Ver,7.3.6.1 31 City of HB Portfolio Management Page 1 Interest Earnings Summary October 31, 2019 October 311VIonth Ending Fiscal Year To Date CD/Coupon/Discount Investments: Interest Collected 43,750.00 1,189,566.25 Plus Accrued Interest at End of Period 1,360,453.04 1,338,203.04 Less Accrued Interest at Beginning of Period ( 1,047,600.58) { 1,045,449.78) Less Accrued Interest at Purchase During Period ( 0,00) ( 0.00) Interest Earned during Period 356,602.46 1,482,319.51 Adjusted by Premiums and Discounts 12,392.33 41,863.02 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 368,994.79 1,524,182.53 Pass Through Securities: Interest Collected 0.00 0.00 Plus Accrued Interest at End of Period 0.00 0.00 Less Accrued Interest at Beginning of Period ( 0.00) ( 0.00) Less Accrued Interest at Purchase During Period ( 0.00) { 0.00) Interest Earned during Period 0.00 0.00 Adjusted by Premiums and Discounts 0.00 0.00 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 0.00 0.00 Cash/Checking Accounts: Interest Collected 115,536.71 338,261.95 Plus Accrued Interest at End of Period 5,871.62 5,871.62 Less Accrued Interest at Beginning of Period ( 92,115.14) ( 199,303.67) Interest Earned during Period 29,293.19 144,829.90 Total Interest Earned during Period 385,895.65 1,627,149.41 Total Adjustments from Premiums and Discounts 12,392.33 41,863.02 Total Capital Gains or Losses 0.00 0.00 Total Earnings during Period 398,287.98 1,669,012.43 Portfolio CITY AP Run Date:D1/06/2020-15:57 PM(PRF_PM6)7.3.0 Report Ver.7.3.6.1 32 �O'1Vt"O' - %%VESry9 State of California o Pooled Money Investment Account Market Valuation 10/31/2019 1611 r'{ Noe o a Carrying Cost Plusu* Descriptions g Accrued Interest Purch Fair Ualue� Accruedinterest= United States Treasury: Bills $ 18,043,697,755.06 $ 18,249,131,500.00 NA Notes $ 29,484,737,153.81 $ 29,634,527,000.00 $ 143,183,206.00 Federal Agency: SBA $ 602,537,762.82 $ 599,454,221.99 $ 1,385,769.22 MBS-REMICs $ 19,496,487.38 $ 20,127,395.86 $ 91,051.79 Debentures $ 2,293,822,254.52 $ 2,309,828,300.00 $ 12,049,487.10 Debentures FR $ - $ - $ - Debentures CL $ 550,000,000.00 $ 550,550,000.00 $ 2,230,708.50 Discount Notes $ 11,206,480,041.63 $ 11,264,441,500.00 NA Su ranational Debentures $ 564,182,969.54 $ 569,075,600.00 $ 1,507,050.75 Su ranational Debentures FR $ 200,220,716.29 $ 200,308,796.77 $ 257,497.68 CDs and YCDs FR $ 300,000,000.00 $ 300,000,000.00 $ 969,704.94 Bank Notes $ 600,000,000.00 $ 599,915,202.88 $ 3,098,416.66 CDs and YCDs $ 15,225,000,000.00 $ 15,230,071,755.90 $ 73,897,166.72 Commercial Paper $ 6,642,211,791.69 $ 6,669,994,818.04 NA Cor orate: Bonds FR $ - $ - $ - Bonds $ - $ - $ - Repurchase Agreements $ - $ - $ - Reverse Repurchase $ - $ - $ - Time Deposits $ 4,836,240,000.00 $ 4,836,240,000.00 NA AB 55&GF Loans $ 790,143,065.01 $ 790,143,065.01 NA TOTAL $ 91,358,769,997.75 $ 91,823,809,156.45 $ 238,670,059.36 Fair Value Including Accrued Interest $ 92,062,479,215.81 Repurchase Agreements,Time Deposits,AB 55&General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 33 Statement of Cash Receipts and.Disbursements and Summary of Cash by Fund �•s;;'• Finance Department October 2019 Cash Receipts and Disbursements September 2019 October 2019 Receipts General Fund Property Tax $ 1,223,757 $ 192,372 Local Sales Tax 3,331,310 4,323,723 Public Safety Sales Tax 195,020 197,452 Transient Occupancy Tax(TOT) 1,515,957 777,323 Utility Users Tax(UUT) 1,690,808 1,603,201 Other Revenue 6,034,525 4,017,565 Total General Fund Revenue 13,991,376 11,111,635 Total All Other Funds Revenue 12,184,027 14,407,453 Total Receipts $ 26,175,403 $ 25,519,088 Disbursements General Fund Personal Services (10,625,080) (10,480,112) Operating Expenses (2,784,358) (2,691,651) Capital Expenditures (44,371) Non-Operating Expenses (4,208) (4,208) Total General Fund Disbursements (13,413,646) (13,220,342) Total All Other Funds Disbursements (14,813,598) (12,957,679) Total Disbursements (28,227,244) (26,178,022) Net Change in Cash Flow $ (2,051,841) $ (658,933) Summary of Cash by Fund September 2019 October 2019 General Fund $ 33,610,760 $ 31,502,052 General Fund Other 5,833,957 4,124,108 Capital Projects Funds 26,690,232 26,232,246 Debt Service Funds 4,333,724 4,332,224 Enterprise Funds 71,157,074 75,311,191 Trust and Agency Funds 11,076,638 10,774,867 Internal Service Funds 31,168,623 31,259,630 Special Revenue Funds 43,330,313 43,006,069 General Ledger Cash Balances $ 227,201,321 $ 226,542,388 Total cash will differ from investment portfolio total due to outstanding checks and/or other timing differences. Note: Above information was obtained from the City's accounting system records.The above information includes receipts from maturing investments and payments for purchased investments in the city investment portfolio.This statement is prepared in compliance with the City's Charter. 1 i 34 City of Huntington Beach City of HB 2000 Main St. ' Portfolio Management Huntington Beach, . <* Portfolio Summary ' November 30, 2019 Par Market Book %of Days to YTM YTM Investments Value Value Value Portfolio Term Maturity 360 Equiv. 365 Equiv. Federal Agency Issues-Coupon 105,905,000.00 106,858,623.00 106,173,078.29 49.08 1,600 821 1.925 1.952 Local Agency Investment Funds 27,801,205.55 27,801,205.55 27,801,205.55 12.85 1 1 2.074 2.103 Treasury Securities-Coupon 15,000,000.00 15,019,950.00 14,938,109,03 6.91 644 207 2.596 2.632 Medium Term Notes 16,000,000,00 16,358,390.00 16,172,640.60 7.48 1,200 849 2.428 2.462 Corporate Bonds 51,500,000.00 52,146,380.00 51,251,160.41 23.69 1,195 701 2.680 2.718 216,206,205.55 218,184,548.55 216,336,193.88 100.00% 1,203 647 2.207 2.238 Investments Cash and Accrued Interest Accrued Interest at Purchase 5,000.00 5,000.00 Subtotal 5,000.00 5,000.00 Total Cash and Investments 216,206,205.55 218,189,548.55 216,341,193.88 1,203 647 2.207 2.238 Total Earnings November 30 Month Ending Fiscal Year To Date Fiscal Year Ending Current Year 398,239.56 2,067,251.99 Current Budget 300,000.00 1,500,000.00 3,600,000.00 Last Year Actual 337,536.89 1,551,439.81 3,452,705.61 Average Daily Balance 214,597,017.12 222,625,355.49 Effective Rate of Return 2.26% 2.22% I certify that this report accurately reflects all City pooled investments and is in conformity with all State laws and the investment policy statement filed with the City Council on February 4,2019.A copy of this policy is available at the office of the City Clerk.The investment program herein shown provides sufficient cash flow liquidity to meet the next six month's obligations. Market Values provided by Union Bank via Interactive Data Corporation. t - I 2C 0 Alisa Backstrom,CITY TREASURER Reporting period 11/01/2019-11130/2019 Portfolio CITY AP Run Date:01/06/2020-1 5:58 PM(PRF_PM1)7.3.0 Report Ver.7.3.6.1 35 City of HB Portfolio Management Page 1 Portfolio Details -Investments November 30, 2019 Average Purchase Stated Yt'M Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Federal Agency Issues-Coupon 3133EGEV3 4140 Federal Farm Credit Bank 06/15/2016 5,000,000.00 4,966,150.00 5,000,000.00 1.620 AA 1.620 561 06/14/2021 3133ECHX5 4292 Federal Farm Credit Bank 05/2312019 5,000,000,00 5,130,200.00 5,004,813.18 2.260 AA 2.236 1,564 03/13/2024 3133EKTG1 4296 Federal Farm Credit Bank 07/01/2019 5,000,000.00 5,012,200,00 4,991,173.61 1.750 1.821 943 07/01/2022 3130A8DC4 4138 Federal Home Loan Bank 06/30/2016 2,250,000.00 2,242,755,00 2,250,000.00 1.600 AA 1.600 395 12/30/2020 313383QR5 4281 Federal Home Loan Bank 12/20/2018 5,000,000.00 5,269,800.00 5,083,535.11 3.250 2.743 1,286 06/09/2023 3130AFTA5 4284 Federal Home Loan Bank 01/30/2019 5,000,000.00 5,008,750.00 5.000,000.00 3.050 3.050 1,521 01/30/2024 3130AFWX1 4285 Federal Home Loan Bank 02/26/2019 5,000,OOD.00 5,143,900.00 5,000,000.00 2.550 2.550 1,276 05/30/2023 3130AIW95 4297 Federal Home Loan Bank 06/27/2019 5,000,000.00 5,042,400.00 5,030,585.94 2.250 1.840 558 06/11/2021 3134G9E78 4149 Federal Home Loan Mort Corp 06/30/2016 5,000,000,00 4,986,400.01) 5,000,000.00 1.280 AA 1.280 304 09/30/2020 3134G9C54 4150 Federal Home Loan Mort Corp 06/3D/2016 4,655,000.00 4,625,208.00 4,655,000.00 1,500 AA 1.500 577 06/30/2021 3134GAUB8 4156 Federal Home Loan Mort Corp 11/22/2016 5,000,000.00 4,985,050.00 5,000,000.00 1.650 AA 1.650 722 11/22/2021 3134GBNN8 4256 Federal Home Loan Mort Corp 05/30/2017 5,000,000.00 5,000,100.00 5,000,228.60 1.750 AA 1.744 271 08/28/2020 3134G9N94 4257 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5,018,600.00 5,012,056.64 1.875 AA 1.723 604 07/27/2021 3134G92Y2 4256 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5,016,150.00 5,011,639.65 1.875 AA 1.733 625 08/17/2021 3134GBTS1 4261 Federal Home Loan Mort Corp 06/29/2017 5,000,000.00 5,001,300.00 5,000,000.00 2.125 AA 2.125 941 06/29/2022 3137EAEN5 4287 Federal Home Loan Mort Corp 03/08/2019 3,000,000.00 3,115,140,00 3,030,104.74 2.750 2.450 1,296 06/19/2023 3137EAEN5 4288 Federal Home Loan Mort Corp 03/14/2019 3,000,000.00 3,115,140.00 3,031,446.29 2.750 2.437 1,296 06/19/2023 3136G3SJ5 4141 Fed.Nafl Mort.Assoc. 06/3012016 5,000,000.00 4,984,250.00 4,999,604.86 1.500 AA 1.505 577 06130/2021 3136G3SN6 4143 Fed,Nafl Mort.Assoc. 06/23/2016 3,000,000.00 2,990,280.00 3,000,000.00 1.500 AA 1.500 388 12/23/2020 3136G3UTO 4146 Fed.Nafl Mort.Assoc. 06/30/2016 5,000,000.00 4.982,450.00 5,000,000.00 1.500 AA 1.500 395 12/30/2020 3136G3VU6 4147 Fed_Nafl Mort.Assoc. 07/19/2016 5,000,000.00 5,000,650.00 5,000,000.00 2.000 AA 1.825 596 07/19/2021 3136G4HM8 4159 Fed.Nat]Mort Assoc. 12/02/2016 5,000.000.00 5,000,000.00 5,000,000.00 1.950 AA 1.950 732 12/02/2021 3135GOU43 4289 Fed.Natl Mort.Assoc. 03/1512019 5,000,000.00 5,221,750.00 5,072,889.67 2.875 2.465 1,381 09/12/2023 Subtotal and Average 107,676,792.12 105,905,000.00 106,858,623.00 106,173,078.29 1.952 821 Local Agency Investment Funds SYS982 982 Laif City 27,801,205.55 27,801,205.55 27,801,205.55 2,103 2.103 1 Subtotal and Average 24,567,872.22 27,801,205.55 27,801,206.55 27,801,205.55 2.103 1 Treasury Securities-Coupon 912828XY1 4269 US Treasury Notes 08/01/2018 5,000,000.00 5,024,050.00 4,995,905.58 2.500 2.645 212 06/3012020 912828XU9 4270 US Treasury Notes 08/10/2018 5,000,000.00 4,996,700.00 4,970,698.07 1.500 2.620 197 06/15/2020 912828XHO 4282 US Treasury Notes 12/20/2018 5,000,000.00 4,999,200.00 4,971,505.38 1.625 2.632 212 06/30/2020 Subtotal and Average 14,933,723.32 15,000,000.00 15,019,950.00 14,938,109.03 2.632 207 Portfolio CITY AP Run Date:D1/O6/202D-15:58 PM(PRF_PM2)7.3.0 Report VeUr67.3.6.1 City of HB Portfolio Management Page 2 Portfolio Details - Investments November 30, 2019 Average Purchase Stated YTM Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Medium Term Notes 4581XDCP1 4268 Inter-American Dev.Bank 08/02/2018 7,000,000:00 7,001,960,00 6,969,115.36 1.875 2.715 198 06/16/2020 45818WBX3 4290 Inter-American Dev.Bank 03/28/2019 4,000,000.00 4,154,880.00 4.082,588.45 2.870 2.270 1,327 07/20/2023 4581BWBY1 4291 Inter-American Dev.Bank 03/28/2019 5,000,000.00 5,201,550.00 5,120,936.79 2.960 2,271 1,354 08/16/2023 Subtotal and Average 16,172,512.44 16,000,000.00 16,368,390.00 16,172,640.60 2.462 849 Corporate Bonds 037833AR1 4262 Apple Inc. 06/26/2017 5,00,000.00 5,076,800.00 5,059,595.50 2.850 AA 1.980 522 05/06/2021 06406HCZO 4155 Bank of New York 10/24/2016 5,000,000.00 5,001,500.00 5,005,955.25 2.150 A 1.617 85 02/24/2020 166764AH3 4294 Chevron Corp 05/24/2019 5.000,000.00 5,206,100.00 5,105,171.09 3.191 AA 2.528 1,301 06/24/2023 437076BG6 4293 Home Depot Inc 05/24/2019 5,000.000.00 5,094,850.00 5,017,594.30 2.625 A 2.474 913 06/01/2022 459200HG9 4274 IBM Corp 09/28/2018 3,000,000.00 2,993,340.00 2,892,754.88 1.875 A 3.257 974 08/01/2022 46625HRTS 4283 JP Morgan 01/31/2019 2,500,000.00 2,514,000.00 2,475,249.29 2.400 3.081 554 06/07/2021 494368BP7 4164 Kimberly Clark Corp 12/28/2016 2,000,000.00 2,000,000.00 1,999,237.80 1.850 A 2.008 91 03/01/2020 713448CX4 4280 PEPSICO INC 12/21/2018 5,000,00.00 5,156,600.00 4,992,533.51 3.100 3.160 959,07/17/2022 69353RFC7 4267 PNC BANK 06/25/2018 5,000,000.00 5,001,350,00 4,975,684.21 2.000 3.080 170 05/19/2020 69353REP9 4271 PNC BANK 08/13/2018 1,000,000.00 1,001,540.00 996,461.11 2.300 3.031 183 06/01/2020 828807DBO 4272 Simon Property Group 09/21/2018 3,000,000.00 3,049,200.00 2.942,364.96 2.625 A 3.239 927 06/15/2022 882508BAl 4279 Texas Instruments Inc 12/21/2018 5,000,000.00 5,011,300.00 4,858,119.44 1.850 3.564 896 05/15/2022 904764AW7 4286 Unilever 03/01/2019 5,000,000.00 5,039,800.00 4,930,439.07 2.200 2.802 886 05/05/2022 Subtotal and Average 51,246,057.03 51,500,000.00 52,146,380.00 51,251,160.41 2.718 701 Total and Average 214,597,017.12 216,206,206.55 218,184,548.65 216,336,193.88 2.238 647 Portfolio CITY AP Run Date:01/06/2020-15:58 PM(PRF PM2)7.3.0 37 City of HB Portfolio Management Page 3 Portfolio Details -Cash November 30, 2019 Average Purchase Stated YTM Days to CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Average Balance 0.00 Accrued Interest at Purchase 5,000.00 5,000.00 0 Subtotal 5,000.00 5,000.00 Total Cash and Investments 214,597,017.12 216,206,205.55 218,189,548.55 216,341,193.88 2.238 647 Portfolio CITY AP Run Date:01/06/2020-15:58 PM(PRF_PM2)7.3.0 38 City of HB Portfolio Management Page 1 Activity By Type November 1, 2019 through November 30, 2019 Stated Transaction Purchases Redemptions CUSIP Investment# Issuer Rate Date or Deposits or Withdrawals Balance Federal Agency Issues-Coupon 3130A8T94 4153 Federal Home Loan Bank 2.000 11/10/2019 0.00 5,000,000.00 Subtotal 0.00 5,000,000.00 106,173,078.29 Local Agency Investment Funds (Monthly Summary) SYS982 982 Laif C4 2.103 11,000,000.00, 0.00 Subtotal 11,000,000.00 0.00 27,801,205.55 Treasury Securities-Coupon Subtotal 14,938,109.03 Medium Term Notes Subtotal 16,172,640.60 Corporate Bonds Subtotal 51,251,160.41 Total 11,000,000.00 5,000,000.00 216,336,193.88 Portfolio CITY AP Run Date:01/06/2020-15:58 PM(PRF PM3)7.3.0 Report Ver.7.3.6.1 39 City of HB Portfolio Management Page 1 Activity Summary November 2018 through November 2019 Yield to Maturity Managed Number Number Month Number of Average 360 365 Pool of investments of Investments Average Average End Year Securities Balance Equivalent Equivalent Rate Purchased Redeemed Term Days to Maturity November 2018 43 205,146,929.07 1.923 1.950 2.208 3 0 1,143 624 December 2018 47 214,572,991.48 2.017 2.045 2.291 4 0 1,193 672 January 2019 48 237,888,789.20 2.110 2.140 2.355 2 1 1,100 629 February 2019 49 239,354,027.47 2.108 2.138 2.392 1 0 1,185 667 March 2019 53 239114,873.33 2.101 2.130 2.436 6 2 1,268 743 April 2019 52 245,334,343.80 2.108 2.137 2.445 0 1 1,141 634 May 2019 53 265,615,018.09 2.135 2.165 2.449 3 2 1,162 669 June 2019 49 248,814,733.00 2.198 2.228 2.428 2 6 1,115 680 July 2019 49 245,748,358.62 2.177 2.207 2.379 1 1 1,240 743 August 2019 48 224,277,639.58 2,173 2.204 2.341 0 1 1,331 774 September 2019 48 214,523,919.98 2.199 2.229 2.280 0 3 1,303 743 October 2019 45 213,459,526.87 2.204 2.235 2.190 0 1 1,272 699 November 2019 44 214,597,017.12 2.207 2.238 2.103 0 1 1,203 647 Average 48 231,431,428.28 2.128% 2.157% 2.331 2 1 1,204 686 Portfolio CITY AP Run Date:01106/2020-1 5:5B PM(PRF PM4)7.3.0 Report Ver.7.3.6.1 40 City of HB Portfolio Management Page 1 Interest Earnings Summary November 30, 2019 November 30Month Ending Fiscal Year To Date CD/Coupon/Discount Investments: Interest Collected 288,750.00 1,478,316.25 Plus Accrued Interest at End of Period 1,415,387.34 1,393,137.34 Less Accrued Interest at Beginning of Period ( 1,360,453.04) ( 1,045,449.78) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 343,684.30 1,826,003.81 Adjusted by Premiums and Discounts 12,089.86 53,952,88 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 355,774.16 1,879,956.69 Pass Through Securities: Interest Collected 0.00 0.00 Plus Accrued Interest at End of Period 0.00 0.00 Less Accrued Interest at Beginning of Period ( 0.00) ( 0.00) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 0.00 0.00 Adjusted by Premiums and Discounts 0.00 0.00 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 0.00 0.00 Cash/Checking Accounts: Interest Collected 0.00 338,261.95 Plus Accrued Interest at End of Period 48,337.02 48,337.02 Less Accrued Interest at Beginning of Period ( 5,871.62) ( 199,303.67) Interest Earned during Period 42,465.40 187,295.30 Total Interest Earned during Period 386,149.70 2,013,299.11 Total Adjustments from Premiums and Discounts 12,089.86 53,952.88 Total Capital Gains or Losses 0.00 0.00 Total Earnings during Period 398,239.56 2,067,251.99 Portfolio CITY AP Run Date:01/06/2020-15:58 PM(PRF PM6)7.3.0 Report Ver.7.3.6.1 41 %%vESr State of California y 90 Pooled Loney Investment Account Market Valuation 11130/2019 �y�� Carrying Cost Plus �iiii E' j 11�1`11�"! u_ ti Desacr,�ptfon Accrued lnterestPurch Fa�riJaluep �Accrued iriterest a a United States Treasury: Bills $ 18,160,388,615.47 $ 18,350,397,000.00 NA Notes $ 29,730,009,636.88 $ 29,845,520,000.00 $ 160,290,060.50 Federal Agency: SBA $ 584,072,949.30 $ 580,845,612.38 $ 1,343,469.05 MBS-REMICs $ 19,366,998.18 $ 19,969,436.91 $ 90,442.36 Debentures $ 2,345,059,234.69 $ 2,358,815,450.00 $ 11,803,354,00 Debentures FR $ - $ - $ - Debentures CL $ 550,000,000.00 $ 550,017,500.00 $ 3,194,250.00 Discount Notes $ 7,932,763,861.05 $ 7,965,334,000.00 NA Su ranational Debentures $ 564,182,969.54 $ 568,468,850.00 $ 2,229,177.75 Su ranational Debentures FR $ 200,220,716.29 $ 200,270,279.12 $ 606,243.10 CDs and YCDs FR $ 400,000,000.00 $ 400,000,000.00 $ 1,625,439.61 Bank Notes $ 700,000,000.00 $ 699,958,763.50 $ 4,234,916.66 CDs and YCDs $ 13,550,000,000.00 $ 13,553,172,030.10 $ 71,512,374.95 Commercial Paper $ 6,318,630,180.55 $ 6,345,109,831.92 NA Corporate: Bonds FR $ - $ - $ Bonds $ - $ - $ - Repurchase Agreements $ - $ - $ - Reverse Repurchase $ - $ - $ - Time Deposits $ 4,787,240,000.00 $ 4,787,240,000.00 NA AB 55 &GF Loans $ 605,929,000.00 $ 605,929,000.00 NA TOTAL $ 86,447,864,161.95 1 $ 86,831,047,753.93 $ 256,929,727.98 Fair Value Including Accrued Interest $ 87,087,977,481.91 Repurchase Agreements,Time Deposits,AB 55&General Fund loans,and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 42 4 Statement of Cash Receipts and Disbursements and Summary of Cash by Fund D Finance Department November 2019 Cash Receipts and Disbursements October 2019 November 2019 Receipts General Fund Property Tax $ 192,372 $ 10,879,106 Local Sales Tax 4,323,723 3,049,44S Public Safety Sales Tax 197,452 199,242 Transient Occupancy Tax(TOT) 777,323 1,532,987 Utility Users Tax(UUT) 1,603,201 1,630,361 Other Revenue 4,017,565 5,789,589 Total General Fund Revenue 11,111,635 23,080,731 Total All Other Funds Revenue 14,407,453 11,631,486 Total Receipts $ 25,519,068 $ 34,712,216 Disbursements General Fund Personal Services (10,480,112) (9,858,948) Operating Expenses (2,691,651) (5,515,408) Capital Expenditures (44,371) (35,614) Non-Operating Expenses (4,208) (70,142) Total General Fund Disbursements (13,220,342) (15,480,112) Total All Other Funds Disbursements (12,957,679) (12,078,562) Total Disbursements (26,178,022) (27,558,674) Net Change in Cash Flow $ (658,933) $ 7,153,542 Summary of Cash by Fund October 2019 November 2019 General Fund 31,506,682 $ 39,107,301 General Fund Other 4,124,108 4,115,604 Capital Projects Funds 26,232,246 26,208,101 Debt Service Funds 4,332,224 4,330,874 Enterprise Funds 75,311,191 77,201,426 Trust and Agency Funds 10,774,867 10,546,725 Internal Service Funds 31,259,630 30,769,104 Special Revenue Funds 44,006,069 42,421,424 General Ledger Cash Balances $ 227,547,017 $ 234,700,560 Total cash will differ from investment portfolio total due to outstanding checks and/or other timing differences. Note: Above information was obtained from the City's accounting system records.The above information includes receipts from maturing investments and payments for purchased investments in the city investment portfolio.This statement is prepared in compliance with the City's Charter. 43 City of Huntington Beach P City of HB 2000 Main St. Portfolio Management Huntington Beach, Portfolio Summary December 31, 2019 Par Market Book %of Days to YTM YTM Investments Value Value Value Portfolio Term Maturity 360 Equiv. 365 Equiv. Federal Agency Issues-Coupon 106,905,000.00 106,869,712.40 106,165,394.52 44.35 1,552 837 1.912 1.939 Local Agency Investment Funds 34,801,205.55 34,801,205.55 34,801,205.55 14.54 1 1 2.015 2.043 Treasury Securities-Coupon 23,000,000.00 22,967,310.00 22,918,952.18 9.57 957 642 2.238 2.269 Medium Term Notes 21,000,000.00 21,350,540.00 21,179,670.90 8.85 1,328 11033 2.324 2.357 Corporate Bonds 54,375,000.00 55,223,948.75 54,335,757.62 22.70 1,206 710 2.644 2.681 239,081,205.55 241,212,716.70 239,400,980.77 100.00% 1,171 685 2.161 2.191 Investments Cash and Accrued Interest Accrued Interest at Purchase 74,989.94 74,989.94 Subtotal 74,989.94 74,989.94 Total Cash and Investments 239,081,205.55 241,287,706.64 239,475,970.71 1,171 685 2.161 2.191 Total Earnings December 31 Month Ending Fiscal Year To Date Fiscal Year Ending Current Year 416,453.72 2,483,705.71 Current Budget 300,000.00 1,800,000.0D 3,600,000.00 Last Year Actual 362,342.78 1,913,782.59 3,581,226.66 Average Daily Balance 225,972,763.68 223,189,321.00 Effective Rate of Return 2.17% 2.21% 1 certify that this report accurately reflects all City pooled investments and is in conformity with all State laws and the investment policy statement filed with the City Council on February 4,2019.A copy of this policy is available at the office of the City Clerk.The investment program herein shown provides sufficient cash flow liquidity to meet the next six month's obligations. Market Values provided by Union Bank via Interactive Data Corporation. Alisa Backstrom,CITY TREASURER Reporting period 12/011201942/3112019 Portfolio CITY AP Run Date:01/1612020-15:54 PM(PRF_PM1)7.3.0 Report Ver.7.3.6.1 44 City of HB Portfolio Management Page 1 Portfolio Details -Investments December 31, 2019 Average Purchase Stated YTM Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 366 Maturity Date Federal Agency Issues-Coupon 3133EGEV3 4140 Federal Farm Credit Bank 06/15/2016 5,000,000.00 4,971,050.00 5,000,000.00 1.620 AA 1.620 530 06/14/2021 3133ECHX5 4292 Federal Farm Credit Bank 05/23/2019 5,000,000.00 5,107,200.00 5,004,719.54 2.260 AA 2.236 1,533 03/13/2024 3133EKTGI 4296 Federal Farm Credit Bank 07/01/2019 5,000,000.00 5,017,950.00 4,991,458.33 1.750 1.821 912 07/01/2022 313OA8DC4 4138 Federal Home Loan Bank 06/30/2016 2,250,000.00 2,244,622.50 2,250,000.00 1.600 AA 1.600 364 12/30/2020 313383QR5 4281 Federal Home Loan Bank 12/20/2018 5,000,000.00 5;268,200.00 5,081,558.73 3.250 2.743 1,255 06/09/2023 3130AFTA5 4284 Federal Home Loan Bank 01/30/2019 5,000.000.00 5,004,100.00 5,000,000.00 3.050 3.050 1,490 01/30/2024 3130AFWXI 4285 Federal Home Loan Bank 02/26/2019 5.000,000.00 5,145,600.00 5,000,000.00 2.550 2.550 1.245 05/30/2023 313OA1W95 4297 Federal Home Loan Bank 06/27/2019 5,000,000.00 5,043,850.00 5,028,917.61 2.250 1.840 527 06/11/2021 3134GSE78 4149 Federal Home Loan Mort Corp 06/30/2016 5,000,000.00 4,991,600.00 5,000,000.00 1.280 AA 1.280 273 09/30/2020 3134G9C54 4150 Federal Home Loan Mort Corp 06/30/2016 4,655,000.00 4,629,769.90 4,655,000.00 1.500 AA 1.500 546 06/30/2021 3134GAUB8 4156 Federal Home Loan Mort Corp 11/22/2016 5,000,000.00 4,989,800.00 5,000,000.00 1.650 AA 1,650 691 11/22/2021 3134GBNN8 4256 Federal Home Loan Mort Corp 05/30/2017 5,001),000.00 5,000,550.00 5,000,202.91 1.750 AA 1,744 240 08/28/2020 3134G9N94 4257 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5,020,900.00 5,011,449.76 1.875 AA 1.723 573 07/27/2021 3134G92Y2 4256 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5,018,900,00 5,011,072.79 1.875 AA 1.733 594 08/17/2021 3137EAEN5 4287 Federal Home Loan Mort Corp 03/08/2019 3,000,000.00 3,115,800.00 3,029.398.05 2.750 2.450 1,265 06/19/2023 3137EAEN5 4288 Federal Home Loan Mort Corp 03/14/2019 3,000,000.00 3,115,800.00 3,030.708.12 2.750 2.437 1,265 06/19/2023 3134GUA42 4302 Federal Home Loan Mort Corp 12/23/2019 5,000,000.00 5,000,750.00 5,000,000.00 1.800 1.800 996 09/23/2022 3134GUC32 4303 Federal Home Loan Mort Corp 12/20/2019 5,000,000.00 4.994,500.00 5,000,000.00 2.000 2.000 1.631 06/19/2024 3136G3SJ5 4141 Fed.Nat'l Mort Assoc. 06/30/2016 5,000,000.00 4,988,350.00 4,999,625.69 1.500 AA 1.505 546 06/30/2021 3136G3SN6 4143 Fed.Nat'l Mort.Assoc. 06/23/2016 3,000,000.00 2,994,120.00 3,000,00.00 1.500 AA 1.500 357 12/23/2020 3136G3UTO 4146 Fed.Nat'l Mort.Assoc. 06/30/2016 5,000,000.00 4,986,650.00 5,000,000.00 1.500 AA 1.500 364 12/30/2020 3136G3VU6 4147 Fed.Nat'l Mort.Assoc. 07/19/2016 5,000,ODO.00 5,000,350.00 5,000,000.00 2.000 AA 1.825 565 07/19/2021 3135GOU43 4289 Fed.Nat'l Mort.Assoc. 03/15/2019 5,000,000.00 5,219,300.00 5,071,282.99 2.875 2.465 1,350 D9/12/2023 Subtotal and Average 104,233,504.66 105,905,000.00 106,869,712.40 106,165,394.62 1.939 837 Local Agency Investment Funds SYS982 982 Laff City 34,801,205.55 34,801,205.55 34,801,205.55 2.043 2.043 1 Subtotal and Average 28,252,818.45 34,801,206.55 34,801,205.55 34,801,205.55 2.043 1 Treasury Securities-Coupon 912828XY1 4269 US Treasury Notes 08/01/2018 5,000,000.00 5,021,100.00 4,996,504.29 2.500 2.645 161 06/30/2020 912828XU9 4270 US Treasury Notes 08110/2018 5,000,000.00 4,998,250.00 4,975,309.04 1.500 2.620 166 06/1512020 912828XH8 4282 US Treasury Notes 12/20/2018 5,000,000.00 5,000,000.00 4,975,672.04 1.625 2,632 181 06/30/2020 912828YH7 4298 US Treasury Notes 12/05/2019 5,000,000m 4,958,400.00 4,978,337.31 1.500 AAA 1.595 1,734 09/30/2024 91282BP79 4299 US Treasury Notes 12/05/2019 3,000,000.00 2,989,560.00 2,993,129.5D 1.500 AAA 1,574 1,154 02/28/2023 Portfolio CITY AP Run Date:01116/202O-15:54 PM(PRF_PM2)7.3.0 Report VT,57.3.6.1 City of HB Portfolio Management Page 2 Portfolio Details - Investments December 31, 2019 Average Purchase Stated YTM Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Subtotal and Average 21,885,630.02 23,000,000.00 22,967,310.00 22,918,952.18 2.269 642 Medium Term Notes 4581XOCP1 4268 Inter-American Dev.Bank 08/02/2018 7,000,000.00 7,003,220.00 6,973.866.84 1.675 2.715 167 06/16/2020 45818WBX3 4290 Inter-American Dev.Bank 03/28/2019 4,000,000.00 4,148,720.00 4,080.695.67 2.870 2.270 1.296 07/20/2023 45818WBY1 4291 Inter-American Dev.Bank 03/28/2019 5,000,000.00 5,193,300.00 5,118,219.11 2.960 2.271 1,323 08/16/2023 459058HG1 4301 Intl Bk Recon&Development 12/16/2019 5.000,000.00 5,005,300.00 5,006,889.28 2.200 AAA 2.015 1,727 09/23/2024 ,Subtotal and Average 18,756,930.29 21,000,000.00 21,350,640.00 21,179,670.90 2.367 1,033 Corporate Bonds 037833AR1 4262 Apple Inc. 06126/2017 5,000,000.00 5,077,150.00 5,056,123.92 2.850 AA 1.980 491 05/06/2021 06406HCZO 4155 Bank of New York 10/24/2016 5,00,000.00 5,000,400.00 5,003,802.75 2.150 A 1.617 54 02/24/2020 166764AH3 4294 Chevron Corp 05/24/2019 5,000,000.00 5,205,300.00 5,102,711.90 3.191 AA 2.528 1,270 06/24/2023 254687CR5 4300 Disney 12/16/2019 2,875,000.00 3,083,408.75 3,074,038.46 4.000 2.070 1,369 10/01/2023 437076BG5 4293 Home Depot Inc 05/24/2019 5,000,000.00 5,101,550.00 5,017,007.82 2.625 A 2.474 882 06/01/2022 459200HG9 4274 IBM Corp 09/28/2018 3,000,000.00 2,999,700.00 2,896,106.29 1.875 A 3.257 943 08/01/2022 46625HRT9 4283 JP Morgan 01/31/2019 2,500,000.00 2,516,500.00 2,476,609.22 2.400 3.081 523 06/07/2021 494368BP7 4164 Kimberly Clark Corp 12/28/2016 2,000,000.00 1,998,440.00 1,999,491.86 1.850 A 2.008 60 03101/2020 713448CX4 4280 PEPSICO INC 12121/2018 5,000,000.00 5,159,300.00 4,992,770.30 3.100 3.160 928 07/17/2022 69353RFC7 4267 PNC BANK 06/25/2018 5,000,000.00 5,000,750.00 4,980,026.32 2.000 3.080 139 05/19/2020 69353REP9 4271 PNC BANK 08/13/2018 1,000,000.00 1,001,300.00 997,050.93 2.300 3.031 152 06/01/2020 828807DBO 4272 Simon Property Group 09/21/2018 3,000,000.00 3,047,400.00 2,944,256.70 2.625 A 3.239 896 06/15/2022 882508BAl 4279 Texas Instruments Inc 12/21/2018 5,000,000.00 4,996,400.00 4,862,934.40 1.850 3.564 865 05/15/2022 904764AW7 4286 Unilever 03/01/2019 5,000,000.00 5,036,350.00 4,932,826.75 2.200 2.802 855 05105/2022 Subtotal and Average 52,843,880.26 64,376,000.00 56,223,948.75 54,335,757.62 2.681 710 Total and Average 225,972,763.68 239,081,205.55 241,212,716.70 239,400,980.77 2.191 685 Portfolio CITY AP Run Date:01/16/2020-1 5:54 PM(PRF_PM2)7.3.0 46 City of HB Portfolio Management Page 3 Portfolio Details -Cash December 31, 2019 Average Purchase Stated YTM Days to CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Average Balance 0.00 Accrued Interest at Purchase 74,989.94 74,989.94 0 Subtotal 74,989.94 74,989.94 Total Cash and Investments 225,972,763.68 239,081,205.55 241,287,706.64 239,475,970.71 2.191 685 Portfolio CITY AP Run Date:01/162020-1 5:54 PM(PRF_PM2)7.3.0 47 City of HB Portfolio Management Activity BY Type e Page 1 December 1, 2019 through December 31, 2019 Stated Transaction Purchases Redemptions CUS1P Investment# Issuer Rate Date or Deposits or Withdrawals Balance Federal Agency Issues-Coupon 3134GBTS1 4261 Federal Home Loan Mort Corp 2.125 12/29/2019 0.00 5,000,000.00 3134GUA42 4302 Federal Home Loan Mort Corp 1.800 12/23/2019 5,000,000.00 0.00 3134GUC32 4303 Federal Home Loan Mort Corp 2.000 12/20/2019 5,000,000.00 0.00 3136G4HMB 4159 Fed.Nat'l Mort.Assoc. 1.950 12/02/2019 0.00 5,000,000.00 Subtotal 10,000,000.00 10,000,000.00 106,165,394.52 Local Agency Investment Funds (Monthly Summary) SYS982 982 Laif City 2.043 12,000,000.00 5,000,000.00 Subtotal 12,000,000.D0 5,000,000.00 34,801,205.55 Treasury Securities-Coupon 91282BYH7 4298 US Treasury Notes 1.500 12/05/2019 4,978,000.00 0.00 91282BP79 4299 US Treasury Notes 1.500 12/05/2019 2,992,968.75 0.00 Subtotal 7,970,968.76 0.00 22,918,962.18 Medium Term Notes 459058HG1 4301 Intl Bk Recon&Development 2,200 12/16/2019 5,006,950.00 0.00 Subtotal 5,006,950.00 0.00 21,179,670.90 Corporate Bonds 254687CR5 4300 Disney 4.000 12/16/2019 3,076,250.00 0.00 Subtotal 3,076,250.00 0.00 54,335,757.62 Total 38,054,168.75 15,000,000.00 239,400,980.77 Portfolio CITY AP Run Date:01116/2 020-1 5:54 PM(PRF_PM3)7.3.0 Report Ver.7.3.6.1 48 City of HB Portfolio Management Page 1 Activity Summary December 2018 through December 2019 Yield to Maturity Managed Number Number Month Number of Average 360 365 Pool of Investments of Investments Average Average End Year Securities Balance Equivalent Equivalent Rate Purchased Redeemed Term Days to Maturity December 2018 47 214,572,991.48 2.017 2.045 2.291 4 0 1,193 672 January 2019 48 237,888,789.20 2.110 2.140 2.355 2 1 1,100 629 February 2019 49 239,354,027.47 2.108 2.138 2.392 1 0 1,185 667 March 2019 53 239,114,873.33 2.101 2.130 2.436 6 2 1,268 743 April 2019 52 245,334,343.80 2.108 2.137 2.445 0 1 1,141 634 May 2019 53 265,615,018.09 2.135 2.165 2.449 3 2 1,162 669 June 2019 49 248,814,733.00 2.198 2.228 2.428 2 6 1,115 680 July 2019 49 245,748,358.62 2.177 2.207 2.379 1 1 1,240 743 August 2019 48 224,277,639.58 2.173 2.204 2.341 0 1 1,331 774 September 2019 48 214,523,919.98 2.199 2.229 2.280 0 3 1,303 743 October 2019 45 213,459,526.87 2.204 2.235 2.190 0 1 1,272 699 November 2019 44 214,597,017.12 2.207 2.238 2.103 0 1 1,203 647 December 2019 49 225,972,763.68 2.161 2.191 2.043 6 2 1,171 6B5 Average 49 232,995,358.52 2.146% 2.176% 2.318 2 2 1,206 691 Portfolio CITY AP Run Date:01/16/2020-15:54 PM(PRF PM4)7.3.0 Report Ver.7.3.6.1 49 City of HB Portfolio Management Page 1 Interest Earnings Summary December 31, 2019 December 31Month Ending Fiscal Year To Date CD/Coupon/Discount Investments: Interest Collected 1,0D4,062.50 2,482,378.75 Plus Accrued Interest at End of Period 768,137.52 745,887.52 Less Accrued Interest at Beginning of Period ( 1,415,387.34) ( 1,045,449.78) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 356,812.68 2,182,816.49 Adjusted by Premiums and Discounts 10,618.14 64,571.02 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 367,430.82 2,247,387.51 Pass Through Securities: Interest Collected 0.00 0.00 Plus Accrued Interest at End of Period 0.00 0.00 Less Accrued Interest at Beginning of Period ( 0.00) ( 0.00) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 0.00 0.00 Adjusted by Premiums and Discounts 0.00 0.00 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 0.00 0.00 Cash/Checking Accounts: Interest Collected 0.00 338,261.95 Plus Accrued Interest at End of Period 97,359.92 97,359.92 Less Accrued Interest at Beginning of Period ( 48,337.02) ( 199,303.67) Interest Earned during Period 49,022.90 236,318.20 Total Interest Earned during Period 405,835.58 2,419,134.69 Total Adjustments from Premiums and Discounts 10,618.14 64,571.02 Total Capital Gains or Losses 0.00 0.00 Total Earnings during Period 416,453.72 2,483,705.71 Portfolio CITY AP Run Date:01/16/2020-15:54 PM(PRF_PM6)7.3.0 Report Ver.7.3.6.1 50 �%vEsr4Fy� State of California Pooled Money Investment Account Market Valuation n'llppl_.A 12/31/2019 11"� i{iOSt Jl uUt n m �, w ,E ,1. s im' s ,rre� t ias @. � e N-rIA i Description ;Accrued tnterestPurch. r4 martfzed Co Fair 1/alue Accrued Interest 1* United States Treasury: Bills $ 17,174,339,397.43 $ 17,350,129,672.69 $ 17,365,398,000.00 NA Notes $ 30,739,969,843.54 $ 30,731,614,309.82 $' 30,856,016,000,00 $ 123,724,495,00 1* Federal Agency: SBA $ 563,068,144.49 $ 563,068,144,49 $ 559,814,189.13 $ 1,060,847.49 MBS-REMICs $ 19,117,016.90 $ 19,117,016.90 $ 19,707,931.37 $ 89,294.47 Debentures $ 2,345,173,135.80 $ 2,345,053,344.14 $ 2,358,141,250.00 $ 12,401,929.25 Debentures FR $ - $ - $ - $ - Debentures CL $ 775,000,000,00 $ 775,000,000.00 $ 774,976,000.00 $ 1,472,708.50 Discount Notes $ 8,184,116,847.13 $ 8,212,363,645.77 $ 8,213,758,500.00 NA 1* Su ranational Debentures $ 664,499,557.94 $ 664,015,463.49 $ 668,156,900.00 $ 3,146,068.25 1* Su ranational Debentures FR $ 200,189,619.96 $ 200,189,619.96 $ 200,208,546.60 $ 690,069.72 2* CDs and YCDs FR $ 400,000,000.00 $ 400,000,000.00 $ 400,000,000.00 $ 521,646.05 2* Bank Notes $ 700,000,000.00 $ 700,000,000.00 $ 700,074,261.44 $ 5,441,333.35 2* CDs and YCDs $ 15,050,000,000.00 $ 15,050,000,000.00 $ 15,051,899,567.98 $ 80,940,374.96 2* Commercial Pa er $ 6,769,921,930.60 $ 6,795,891,652.80 $ 6,796,111,305.57 NA 1* Corporate: Bonds FR $ $ - $ - $ - Bonds $ - $ - $ - $ - 1* Repurchase Agreements $ - $ - $ - $ 1* Reverse Repurchase $ - $ - $ - $ - Time De osits $ 4,736,240,000,00 $ 4,736,240,000.00 $ 4 736,240 000.00 NA AB 55&GF Loans $ 605,929,000A0 $ 605,929,000.00 $ 605,929,000.00 NA TOTAL is 88,927,564,493.79 $ 89,148,611,870.06 $ 89,306,431,452.09 $ 229,488,767.04 Fair Value Including Accrued Interest $ 89,535,920,219.13 *Governmental Accounting Standards Board(GASB)Statement#72 Repurchase Agreements,Time Deposits,AB 55&General Fund loans,and Reverse Repurchase agreements are carried at portfolio book value(carrying cost), The value of each participating dollar equals the fair value divided by the amortized cast(1.001770298). As an example:if an agency has an account balance of$20,000,000.00,then the agency would report its participation in the LAW valued at$20,035,405.95 or$20,000,000.00 x 1.001770298. 51 Statement of Cash Receipts and Disbursements and " Summary of Cash by Fund Finance Department December 2019 Cash Receipts and Disbursements November 2019 December 2019 Receipts General Fund Property Tax $ 10,879,106 $ 25,212,594 Local Sales Tax 3,049,445 3,309,010 Public Safety Sales Tax 199,242 240,403 Transient Occupancy Tax(TOT) 1,532,987 882,146 Utility Users Tax(UUT) 1,630,361 1,420,538 Other Revenue 5,789,589 3,704,011 Total General Fund Revenue 23,080,731 34,768,701 Total All Other Funds Revenue 11,631,486 15,828,556 Total Receipts $ 34,712,216 $ 50,597,257 Disbursements General Fund Personal Services (9,858,948) (11,825,951) Operating Expenses (5,515,408) (3,087,852) Capital Expenditures (35,614) (7,390) Non-Operating Expenses (70,142) (147,315) Total General Fund Disbursements (15,480,112) (15,068,508) Total All Other Funds Disbursements (12,078,562) (12,557,549) Total Disbursements (27,558,674) (27,626,057) Net Change In Cash Flow $ 7,163,542 $ 22,971,200 Summary of Cash by Fund November 2019 December 2019 General Fund 39,108,930 $ 58,809,124 General Fund Other 4,115,604 4,054,847 Capital Projects Funds 26,208,101 26,672,122 Debt Service Funds 4,330,874 4,329,524 Enterprise Funds 77,201,426 80,350,778 Trust and Agency Funds 10,546,725 11,738,518 Internal Service Funds 30,769,104 29,944,015 Special Revenue Funds 42,421,424 41,774,462 General Ledger Cash Balances $ 234,702,189 $ 257,673,390 ' Total cash will differ from investment portfolio total due to outstanding checks and/or other timing differences. Note: Above information was obtained from the City's accounting system records.The above information includes receipts from maturing investments and payments for purchased investments in the city investment portfolio.This statement is prepared in compliance with the City's Charter. 52 City of Huntington Beach Quarterly Investment Report Quarter Ending: December 2019 l PREPARED BY: ALISA BACKSTROM, MBA, CCMT, CPFIM CITY TREASURER COLIN STEVENS, MPP TREASURY ASSOCIATE ❑ Unemployment rate remained at 3 . 5% ❑ Federal Reserve held rates stable at 1 . 50-1 . 75% after 3 cuts in 2019 ❑ Core PCE price index up 1 . 6% year- on-year basis in November ❑ Consumer confidence in fourth quarter of 2019 neared historic high at 122 points 54 ❑ S& P up 28 . 9% for 2019, best year since 2013 ❑ DJ IA increased 5 . 7% for quarter ending December with 22 . 3% annual gain ❑ Treasury yields ended year off lows, but still down for 2019 LJ 10-year yield up 14. 2 bps in December to 1 . 92% but down 76 bps for the year - biggest annual drop since 2011 55 t ZYr Tsy tYrTSy Treasury Rates 0 1OYr Tsy 3.20 Rates peaked 10/18 3.10 . 3.00 2.90 2.80 2.70 2.60 2.50 v ry 2.40 r 2.30 2.10 2.00 1.90 1.80 1.70 1.60 1•50 Rate lows 8/19 1.40 r c � � R � 9 �' c 56 � c� Portfolio Summary As of 12/31/19 Investment Type Market Value Federal Agencies $106.9MM Local Agency Investment Fund (LAIF) $34.8MM Corporate Bonds $55.2MM Treasury Securities $22.9MM Medium Term Notes (IADB/IBRD) $21.4MM TOTAL PORTFOLIO: $241.2MM Investments byType As of 12/31/19 8.9% Medium Term Notes - 9.6% Treasuries 44.3% Federal Agencies 22.7% Corporate — Bonds 14.5% LAIF MonthlyActivity December 2019 Investment Type Purchases Calls/Maturities Federal Agencies $10MM $10MM LAIF $12MM $5MM Corporate Bonds $2.9MM Treasury Securities $SMM Medium Term Notes (IADB/IBRD) $5MM TOTAL : $37.9MM $15MM Quarterly Activity October - December 2019 Investment Type Purchases Calls/Maturities © Federal Agencies $10MM $20MM • LAIF* $34.1MM $13MM • Corporate Bonds $2.9MM • Treasury Securities $8MM • Medium Term Notes (IADB/IBRD) $5MM TOTAL : $60MM $33MM * Includes interest Portfolio Earnings As of 12/31/19 Total Earnings Month Fiscal Year-to-date 9 Current Year $416,454t 15% $2,483,706 3O% • Current Budget $300,000 $1,800,000 Last Year Actual $362,343 $1,913,783 Effective Rate of Return 2.17% 2.21% Benchmark* 2.00% * 12-month moving average of interpolated 1.5-year treasury Selected Compliance Requirements MAXIMUM INVESTMENT MAXIMUM SPECIFIED % OF MINIMUM QUALITY IN TYPE MATURITY PORTFOLIO/ REQUIREMENTS COMPLIANCE MAXIMUM PER ? ISSUER Commercial Paper 270 days 25%/10% Al, "A" Rating YES State Obligations— CA And Others 5 years None/10% "A" Rating YES U.S. Treasury Obligations 5 years None None YES U.S. Government 5 years None None YES Agency Obligations IBRD, IFC, IADB 5 years 10% "AA" Rating YES Corporate Notes 5 years 30%/10% "A" Rating YES Local Agency Investment Fund N/A :IU to $65,000,000 None (LAIF) YES Maximim Maturities INo more than 50%of portfolio maturing over 4 years. YES No issues of non-compliance LISafety — No principal losses ❑ Liquidity — Sufficient funds for operating needs ❑ Anticipated yield return — 2 . 21% FYTD � LJ Prudently managed — No compliance issues LI Positive contributor to City — Earnings offset taxpayer funds 63