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HomeMy WebLinkAboutReceive and File the City Treasurer's September 2020 Quarter f: City of Huntington Beach File #: 20-1935 MEETING DATE: 11/2/2020 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 September 2020 Quarterly Investment Summary Report Statement of Issue: Receive and file the City Treasurer's Quarterly Investment Report for September 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 September 2020, pursuant to Section 17.0 of the Investment Policy of the City of Huntington Beach. Alternative Action(s): Deny or critique the Quarterly Investment 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 September 2020 2. Treasurer's PowerPoint Presentation for September 2020 City of Huntington Beach Page 1 of 1 Printed on 10/28/2020 powered LegistarTI City of Huntington Beach Quarterly Investment Report September, 2020 11 WA Prepared by: Alisa Backstrom, MBA, CCMT, CPFIM City Treasurer Colin Stevens, MPP Treasury Associate 21 PORTFOLIO SUMMARY AS OF: September 30, 2020 Investment Type $ in 000's Market Value Book Value % of Portfolio Federal Agency Issues $ 78,277 $ 76,244 34.5% Local Agency Investment Fund (LAIF) $ 27,461 $ 27,461 12.4% Treasury Securities $ 8,355 $ 7,977 3.7% Medium Term Notes- IADB $ 15,798 $ 15,303 6.9% Corporate Bonds $ 55,453 $ 53,876 24.41/16 OC Investment Pool 39,996 39,996 18.1% TOTAL $ 225,340 $ 220,856 100% As of September 30, 2020, the market value of the portfolio was greater than the book value of the portfolio at $225.3 million versus $220.9 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. Currently, funds within the City portfolio are invested in federal agency securities, corporate bonds, the Inter-American Development Bank ("IADB"), 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 within the portfolio. PORTFOLIO BREAKOUT BY TYPE - BOOK VALUE % of Total Portfolio OC Investment Pool 18% Federal Agency Issues Corporate Bonds 24% Local Agency Investment Fund (LAIF) Medium Term Notes- ( 12% IADB Treasury Securities 7% 4% 22 As is typical, the largest holding by security type at month-end was federal agencies at approximately 35% of the total overall 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. PORTFOLIO EARNINGS AS OF: September 30, 2020 Total Earnings Month: September Fiscal YTD Current Year $ 296,310 $ 963,526 Current Budget $ 200,000 $ 800,000 Last Year Actual $ 397,968 $ 1,270,724 Average Daily Balance $ 225,447,508 $ 242,884,806 Effective Rate of Return 1.60% 1.57% Benchmark* 0.77% n/a *12-month moving average of interpolated 1.5-year treasury Earnings for the month of September 2020 were $296,310, with fiscal year-to-date earnings of $963,526. The decrease in earnings as compared to the same periods in the previous fiscal year are due to the sharp downturn in interest rates that occurred over the first half of 2020, that have continued to remain in effect. It is expected that we will continue to see an overall decrease in earnings and yield as bonds mature or are called and funds must be invested at the current historically low rates. The effective rate of return for the month of September was 1.60%, with a fiscal year-to-date return of 1.57%. As the Federal Reserve 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 0.77% at the end of September. PORTFOLIO ACTIVITY: MONTH MONTHLY ACTIVITY: September 2020 Investment Type Purchases/ Calls/Maturities $ in 000's Deposits /Withdrawals Federal Agency Issues Local Agency Investment Fund (LAIF) * $ 4,000,000 $ 13,000,000 Medium Term Notes -IADB/IBRD $ - $ 5,000,000 Corporate Bonds $ - $ - Treasury Securities $ - $ - OC Investment Pool* $ - (a) 2,007 TOTAL $ 4,000,000 $ 18,002,007 *Includes Interest Income a OCIP Investment Admin Fee 23 PORTFOLIO ACTIVITY: QUARTER QUARTERLY ACTIVITY: July 1 to September 30, 2020 Investment Type Purchases/ Calls/Maturities $ in 000's Deposits /Withdrawals Federal Agency Issues $ - $ 5,000,000 Local Agency Investment Fund (LAIF) * $ 4,269,569 $ 51,000,000 Medium Term Notes - IADB/IBRD $ - $ 5,000,000 Corporate Bonds $ - $ - Treasury Securities $ - $ - OC Investment Pool* $ - (a) 4,233 TOTAL $ 4,269,569 $ 61 ,004,233 *Includes Interest Income a OCIP Investment Admin Fee 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 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%110% "A" Rating YES Local Agency Investment Fund N/A Up to $75,000,000 None LAIF YES Orange County Investment Pool NIA NIA None OCIP YES Maximum Maturities No more than 50%of portfolio maturing over 4 years. YES 24 SUPPLEMENTAL INFORMATION ADDITIONAL ACCOUNT BALANCES: Ending Balance Market Values: 6-30-20 Total Deferred Compensation Plan Balances $155,755,891 CalPERS Retiree Medical Trust Account $30,647,831 US Bank Supplemental Pension Trust Account $59,017,057 PARS Post Employment Benefits 115 Trust Account $7,502,629 Bond Reserve Accounts $6,007,349 (Due to delay in statement receipt,amounts are from previous quarter end) ECONOMIC AND MARKET OVERVIEW MARKET SUMMARY: JUNE 30, 2020 - SEPTEMBER 30, 2020 Fed Funds 2-Yr. 10-Yr. As of: Rate Treasury Treasury S&P Soo DJIA 6/30/2020 0.00 -0.25% 0.16% 0.66% $ 3,100.29 $ 25,812.88 9/30/2020 0.00-0.25% 0.13% 0.69% 3,363.00 27 781.70 %Change none -18.75% 4.55% 8.47% 7.63% Federal Reserve issues FOMC statement, September 16, 2020: "The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Economic activity and employment have picked up in recent months but remain well below their levels at the beginning of the year. Weaker demand and significantly lower oil prices are holding down consumer price inflation. Overall financial conditions have improved in recent months, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses. The path of the economy will depend significantly on the course of the virus. The ongoing public health crisis will continue to weigh on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term." Fixed Income / Equity Markets: The yield on the 10-year U.S. Treasury finished the quarter at 0.69%, up slightly from the end of the previous quarter. Conversely, the 2-year U.S. Treasury decreased by almost 19% from the previous quarter. At 0.13%, the yield is up only slightly from a historically low 0.11%, reached earlier this year. The S&P 500 and DOW increased by 8.47% and 7.63% respectively, over the previous quarter. Employment: Total nonfarm payroll employment rose by 661,000 in September, and the unemployment rate declined to 7.9 percent. 25 0 2Yr Tsy 5Yr Tsy —0 tOYrTsy Treasury Rates Monthly Averages 1.80 t.a6o 1.610 1.80 .760 1.700 1.7,0 t.7o ,.8 0�" 1,640 1.60 1.67o 40 1.50 1.40 8 1.30 1.20 0 1.10 e o.90 0.70 0.80 0.730 0.70 0.670 10Yr Tsy 0.00 0.650 .620 0.60 0.50 0. 6o 0.40 390 o.uo 0.30 6Yr T sy 0.30 0260 0270 0270 20 0.20 0.170 0.190 2Yr Tsy 0.160 0.140 0.130 0.10 p� N pN pN N ph pryer N Sri 1Ny rV 26 r City of Huntington Beach City of Huntington Beach 2000 Main St. Portfolio Management Huntington Beach, Portfolio Summary r July 31, 2020 Investments Par Market Book %of Days to YTM YTM Value Value Value Portfolio Term Maturity 360 Equiv. 365 Equiv. Federal Agency Issues-Coupon 81,05D,000.00 83,469,535.50 81,259,692.43 33.31 1,506 1,098 1.730 1.754 Local Agency Investment Funds 40,460,878.36 40,460,878.36 40,460,878.36 16.59 1 1 0.907 0.920 Treasury Securities-Coupon 8,000,000.00 8,380,820.00 7,975,395.92 3.27 1,543 1.303 1.566 1.587 Medium Term Notes 20,000,000.00 20,868,680.00 20,328,622.35 8.33 1,451 1.144 1.663 1.687 Corporate Bonds 53,399,000.00 55.667.875.54 53,925,518.39 22.11 1,117 670 2.242 2.273 ORANGE COUNTY POOL 39,999,778.69 39,999,778.69 39,999,778.69 16.40 1 1 1.206 1.223 242,909,657.05 248,847,568.09 243,949,886.14 100.00% 920 652 1.610 1.632 Investments Cash and Accrued Interest Accrued Interest at Purchase 16.462.18 16,462.18 Subtotal 16,462.18 16,462.13 Total Cash and Investments 242,909,657.05 248,864,030.27 243,966,348.32 920 652 1.610 1.632 Total Earnings July 31 Month Ending Fiscal Year To Date Fiscall Year Ending Current Year 348,049.06 348,049.06 Current Budget 300,000.00 300,000.00 1,900,000.00 Last Year Actual 458,478.86 458,478.86 4,951,910,42 Average Daily Balance 264,073,523.48 264,073,523.48 Effective Rate of Return 1.55% 1.55% 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 3,2020.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. 9 t Iv--vim - 2` Alisa Backstrom,CITY TREASURER E Reporting period 07101/2020-07/31/2020 Portfolio CITY AP Run Date:10/09/2020-11:55 PM(PRF_PM1)7.3.0 Report Ver.7.3.6.1 27 City of Huntington Beach Portfolio Management Page 1 Portfolio Details -Investments July 31, 2020 Average Purchase Stated YTM Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Federal Agency Issues-Coupon 3133ECHX5 4292 Federal Farm Credit Bank 05/23/2019 5,000,000.00 5,361,200.00 5,004,064.05 2.260 AA 2.236 1.320 03/13/2024 3133EKTG1 4296 Federal Farm Credit Bank 07/01/2019 5,000,000.00 5,148,950.00 4,993,451.39 1.750 1.821 699 07/01/2022 313383QR5 4281 Federal Home Loan Bank 12/2012018 5,000,000.00 5,420,650.00 5,067,724.05 3.250 2.743 1,042 06/0912023 3130AFWX1 4285 Federal Home Loan Bank 02/26/2019 5,000,000.00 5,322,450.00 5,000,000.00 2.550 2.550 1,032 05/30/2023 313OA1W95 4297 Federal Home Loan Bank 06/27/2019 5,000,000.00 5,091,150.00 5,017,239.35 2.250 1.840 314 06/11/2021 3134G9N94 4257 Federal Home Loan Mort Corp 06/1412017 5,000.000.00 5,085,300.00 5,007,201.62 1.875 AA 1.723 360 07/27/2021 3134G92Y2 4258 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5,088,300.00 5,007,104.72 1.875 AA 1.733 381 08/17/2021 3137EAEN5 4287 Federal Home Loan Mort Corp 03/08/2019 3,000,000.00 3,218,880.00 3,024,451.27 2.750 2.450 1,052 06/19/2023 3137EAEN5 4288 Federal Home Loan Mort Corp 03/14/2019 3,000,000.00 3,218,880.00 3,025,540.89 2.750 2.437 1,052 06/19/2023 3134GU5T3 4304 Federal Home Loan Mort Corp 01130/2020 3,000,000.00 3,018,540.00 3,000,000.00 1.875 1.875 1,642 01/29/2025 3134GVAR9 4305 Federal Home Loan Mort Corp 02/14/2020 5,000,000.00 5,002,000.00 5,000,000.00 1.900 AA 1.900 1,658 02l1412025 3134GVLK2 4308 Federal Home Loan Mort Corp 04/23/2020 4,550,000,00 4,551,410.50 4,550,000.00 1.000 1.000 1,634 01/21/2025 3134GVLQ9 4309 Federal Home Loan Mort Corp 04/24/2020 5,000,000,00 5,009,650.00 5,000,000.00 1.050 AAA 1.050 1,726 04/23/2025 3134GVNH7 4310 Federal Home Loan Mort Corp 04/29/2020 2,500,000.00 2,501,125.00 2,500,575.77 0.650 0.642 1,090 07/27/2023 3134GVNH7 4311 Federal Home Loan Mort Corp 04/29/2020 5,000,000.00 5,002,250.00 5.002,303.08 0.650 0.634 1,090 07/2712023 3134GVPV4 4314 Federal Home Loan Mort Corp 04/30/2020 5,000,000,00 5,001,550.00 5,000,000.00 0.625 0.625 1,185 10130/2023 3135GOU43 4289 Fed.Nat'l Mort.Assoc. 03/15/2019 5,000,000.00 5,409,850.00 5,060,036.24 2.875 2.465 1,137 09/12/2023 3136G4UM3 4307 Fed.Nat'l Mort.Assoc. 02125/2020 5,000,000.00 5,017,400.00 5,000,000.00 1.800 AA 1.800 1,577 11/25/2024 Subtotal and Average 81,263,321.71 81,050,000.00 83,469,535.50 81,259,692.43 1.754 1,098 Local Agency Investment Funds SYS982 982 Laif City 40,460,878.36 40,460,878.36 40,460,878,36 0.920 0.920 1 Subtotal and Average 60,564,943.94 40,460,878.36 40,460,878.36 40,460,878.36 0.920 1 Treasury Securities-Coupon 912828YH7 4298 US Treasury Notes 12/05/2019 5,000,000.00 5,274,050.00 4,980,998.30 1.500 AAA 1.595 1,521 09/30/2024 91282OP79 4299 US Treasury Notes 12/05/2019 3,000,000.00 3,106,770.00 2,994,397.62 1.500 AAA 1.574 941 02/28/2023 Subtotal and Average 7,975,119.22 8,000,000.00 8,380,820.00 7,975,395.92 1.587 1,303 Medium Term Notes 45818WBX3 4290 Inter-American Rev.Bank 03/28/2019 4,000,000.00 4,289,920.00 4,067,446.19 2.870 2.270 1,083 07/20/2023 45818WBY1 4291 Inter-American Dev.Bank 03/28/2019 5,000,000.00 5,374.050.00 5,099,195.34 2.960 2.271 1,110 08/16/2023 45818WCT1 4312 Inter-American Dev.Bank 04/29/2020 6.000,000.00 6,193,260.00 6,155,941.57 1.600 0.550 912 01/30/2023 459058HG1 4301 Intl Bk Recon&Development 12/16/2019 5,000,000.00 5,011,450.00 5,006,039.25 2.200 AAA 2.015 1,514 09/23/2024 Subtotal and Average 20,333,275.31 20,000,000.00 20,868,680.00 20,328,622.35 1.687 1,144 Portfolio CITY AP Run Date:10/092020-11:55 PM(PRF_PM2)7.3.0 Report Ver.7.3.6.1 28 City of Huntington Beach Portfolio Management Page 2 Portfolio Details -Investments July 31, 2020 Average Purchase Stated YTM Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Corporate Bonds 037833AR1 4262 Apple Inc. 06/26/2017 5,000,000.00 5,097,100.00 5,031,822.84 2.850 AA 1.980 278 05106/2021 037833DE7 4313 Apple Inc. 04/29/2020 5,000,000.00 5,242,900.00 5,197.227.52 2.400 0.720 895 01/1312023 166764AH3 4294 Chevron Corp 05/24/2019 5,000,000.00 5,373,250.00 5,085,497.62 3.191 AA 2.528 1,057 0612412023 254687CR5 4300 Disney 12/16/2019 2,675,000.00 3,164,110.00 3,043,076.92 4.000 2.070 1,156 10/01/2023 375558AU7 4315 Gilead Sciences 04/30/2020 2,888,000.00 3,017,122.48 3,002,346.59 4.400 1.387 487 12/01/2021 375558AQ6 4316 Gilead Sciences 04/3012020 1,426,000.00 1,452,894.36 1,451,125.17 4.500 1.821 243 04/01/2021 437076BG6 4293 Home Depot Inc 05/24/2019 5,000,000.00 5,211,200.00 5,012,902.48 2.625 A 2.474 669 06/01/2022 459200HG9 4274 IBM Corp 09/28/2018 3,000,000.00 3,096,000.00 2,919,566.16 1.875 A 3,257 730 08/01/2022 46625HRT9 4283 JP Morgan 01/31/2019 2,500,000.00 2,539,450.00 2.486,128.72 2.400 3.081 310 06/07/2021 713448CX4 4280 PEPSICO INC 12/21/2018 5.000,000.00 5,252,600.00 4,994,427.76 3.100 3.160 715 07/17/2022 882508BAl 4279 Texas Instruments Inc 12/21/2018 5,000,000.00 5,124,850.00 4,896,639.05 1.850 3.564 652 05/15/2022 904764AW7 4286 Unilever 03101/2019 5,000,000.00 5,154,100.00 4,949,540.47 2.200 2.802 642 05/05/2022 904764AZO 4317 Unilever 04/30/2020 3,710,000.00 3,765,538.70 3,757,907.39 2.750 0.727 233 03/22/2021 90331HNV1 4306 US Bank NA Cincinnati 02/21/2020 2,000,000.00 2,176.760,00 2,097,309Y0 3.400 AA 1.671 1,087 07/24/2023 Subtotal and Average 53,937,084.60 53,399,000.00 55,667,875.54 53,925,518.39 2.273 670 ORANGE COUNTY POOL OCP1 01 Orange County Invest Pool 39,999,778.69 39,999,778.69 39,999,778.69 1.223 1.223 1 Subtotal and Average 39,999,778.69 39,999,778.69 39,999,778.69 39,999,778.69 1.223 1 Total and Average 264,073,523.48 242,909,657.05 248,847,568.09 243,949,886.14 1.632 652 Portfolio CITY AP Run Date:101092020-11:55 PM(PRF_PM2)7.3.0 29 City of Huntington Beach Portfolio Management Page 3 Portfolio Details -Cash July 31, 2020 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 16,462.18 16,462.18 0 Subtotal 16,462.18 16,462.18 Total Cash and Investments 264,073,523.48 242,909,657.05 248,864,030.27 243,966,348.32 1.632 652 Portfolio CITY AP Run Date:10/09/2020-11:55 PM(PRF PM2)7.3.0 30 City of Huntington Beach Portfolio Management Activity BY Type e Page 1 July 1, 2020 through July 31, 2020 Stated Transaction Purchases Redemptions CUSIP Investment# Issuer Rate Date or Deposits or Withdrawals Balance Federal Agency Issues-Coupon Subtotal 81,259,692.43 Local Agency Investment Funds (Monthly Summary) SYS982 982 Laif City 0.920 269.569.07 34,000,000.00 Subtotal 269,569.07 34,000,000.00 40,460,878.36 Treasury Securities-Coupon Subtotal 7,975,395.92 Medium Term Notes Subtotal 20,328,622.35 Corporate Bonds Subtotal 53,925,518.39 ORANGE COUNTY POOL (Monthly Summary) OCP1 01 Orange County Invest Pool 1.223 0.00 221.31 Subtotal 0.00 221.31 39,999,778.69 Total 269,569.07 34,000,221.31 243,949,886.14 Portfolio CITY AP Run Date:1 0/09/2020-1 1:55 PM(PRF PM3)7.3.0 Report Ver.7.3.6.1 31 City of Huntington Beach Portfolio Management Page 1 Activity Summary July 2019 through July 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 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 1207 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 March 2020 47 245,831,098.72 2A43 2,173 1.787 0 6 1,016 660 April 2020 51 245,648,128.94 1.867 1.893, 1.648 10 3 958 685 May 2020 48 276,251,972.39 1.791 1.816 1.363 0 2 943 666 June 2020 47 268,106,206.75 1.602 1.624 1.217 1 7 809 591 July 2020 40 264,073,523.48 1.610 1.632 0.920 0 0 920 652 Average 47 241,747,866.64 2.028% 2.056% 1.858 2 2 1,101 678 Portfolio CITY AP Run Date:10109/2020-11:55 PM(PRF_PM4)7.3.0 Report Ver.7.3.6.1 32 City of Huntington Beach Portfolio Management Page 1 Interest Earnings Summary July 31, 2020 July 311VIonth Ending Fiscal Year To Date CD/Coupon/Discount Investments: Interest Collected 331,327.09 331,327.09 Plus Accrued Interest at End of Period 762,062.03 762,062.03 Less Accrued Interest at Beginning of Period { 792,361.15) { 792,361.15) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 301,027.97 301,027.97 Adjusted by Premiums and Discounts -41,850.79 -41,850.79 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 259,177.18 259,177.18 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 269,569.07 269,569.07 Plus Accrued Interest at End of Period 60,955.15 60,955.15 Less Accrued Interest at Beginning of Period ( 241,652.34) ( 241,652,34) Interest Earned during Period 88,871.88 88.871.88 Total Interest Earned during Period 389,899.85 389,899.85 Total Adjustments from Premiums and Discounts -41,860.79 -41,850.79 Total Capital Gains or Losses 0.00 0.00 Total Earnings during Period 348,049.06 348,049.06 Portfolio CITY AP Run Date:101092020-11:55 PM(PRF_PM6)7.3.0 Report Ver.7.3.6.1 33 go����NVFsr�F29 State of California 0 Pooled Money Investment Account Market Valuation 7/31/2020 FlY.I Id WDI��.i Carrying Cost Plus Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury: Bills $ 37,037,846,401.44 $ 37,136,744,500.00 NA Notes $ 27,314,900,652.24 $ 27,709,185,500.00 $ 137,540,407.50 Federal Agency: SBA $ 483,568,039.16 $ 479,340,863.20 $ 205,602.00 MBS-REMICs $ 16,880,911.20 $ 17,819,018.91 $ 78,618.97 Debentures $ 2,316,436,805.46 $ 2,336,799,260.00 $ 9,109,545.86 Debentures FR $ - $ - $ - Debentures CL $ 625,000,000.00 $ 627,204,500.00 $ 1,436,165.50 Discount Notes $ 15,695,584,347.24 $ 15,720,708,000.00 NA Su ranational Debentures $ 614,688,043.27 $ 618,008,900.00 $ 4,377,582.75 Supranational Debentures FR S 200,128,103.33 $ 200,086,704.53 $ 44,854.32 CDs and YCDs FR $ 500,000,000.00 $ 500,112,000.00 $ 282,033.38 Bank Notes $ 100,000,000.00 $ 100,112,541.85 $ 815,444.44 CDs and YCDs $ 14,350,650,610.28 $ 14,354,665,447.95 $ 24,355,166.66 Commercial Paper $ 8,399,972,769.53 $ 8,417,405,112.79 NA Corporate: Bonds FR $ - $ - $ - Bonds $ - $ - $ - Repurchase Agreements $ - $ - $ - Reverse Repurchase $ - $ - $ - Time Deposits $ 5,261,490,000.00 $ 5,261,490,000.00 NA AB 55 & GF Loans $ 621,001,000.00 $ 621,001,000.00 NA TOTAL $ 113,538,147,683.15 $ 114,100,683,349.23 $ 178,245,421.38 Fair Value Including Accrued Interest $ 114,278,928,770.61 Repurchase Agreements, Time Deposits, AB 55 & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 34 w Statement of Cash Receipts and Disbursements and Summary of Cash by Fund Finance Department July 2020 Cash Receipts and Disbursements June 2020 July 2020 Receipts General Fund Property Tax $ 420,009 $ 880,790 Local Sales Tax 3,063,111 3,603,927 Public Safety Sales Tax 171,061 149,133 Transient Occupancy Tax(TOT) 156,055 148,992 Utility Users Tax(UUT) 1,299,734 1,411,906 Other Revenue 4,316,765 4,128,192 Total General Fund Revenue 9,426,735 10,322,940 Total All Other Funds Revenue 18,150,461 15,482,898 Total Receipts $ 27,577,196 $ 25,805,837 Disbursements General Fund Personal Services (10,406,407) (45,142,926) Operating Expenses (1,467,133) (4,774,827) Capital Expenditures (10,463) (315,413) Non-Operating Expenses (147,315) (1,004,208) Total General Fund Disbursements (12,031,318) (51,237,375) Total All Other Funds Disbursements (12,810,482) (24,746,209) Total Disbursements (24,841,800) (75,983,584) Net Change in Cash Flow $ 2,735,396 $ (50,177,746) Summary of Cash by Fund June 2020 July 2020 General Fund 72,525,432 $ 31,610,996 General Fund Other 3,928,317 4,975,024 Capital Projects Funds 32,171,068 32,036,542 Debt Service Funds 4,502,029 4,500,629 Enterprise Funds 88,735,538 85,084,072 Trust and Agency Funds 15,494,470 13,983,860 Internal Service Funds 37,500,045 33,565,790 Special Revenue Funds 50,794,916 49,717,153 General Ledger Cash Balances $ 305,651,814 $ 255,474,068 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. 35 City of Huntington Beach City of Huntington Beach 2000 Main St. Portfolio Management Huntington Beach, Portfolio Summary August 31, 2020 Par Market Book %of Days to YTM YTM Investments Value Value Value Portfolio Term Maturity 360 Equiv. 365 Equiv. Federal Agency Issues-Coupon 76,050,000.00 78,361,554.50 76,251,933.24 32.46 1,485 1,030 1.721 1.745 Local Agency Investment Funds 36.460,878,36 36,460,878.36 36,460,878.36 15.52 1 1 0.773 0.784 Treasury Securities-Coupon 8,000,000,00 8,363,430.00 7,975,967.77 3.40 1,543 1,272 1.566 1.587 Medium Term Notes 20,000,000.00 20.836,4%00 20,318,686.62 8.65 1,451 1,113 1.664 1.687 Corporate Bonds 53,399,000.00 55,590,502.98 53,900,790.70 22.95 1,117 639 2.243 2.274 ORANGE COUNTY POOL 39,997,774.01 39,997,774.01 39,997,774.01 17.03 1 1 1.128 1.144 233,907,652.37 239,610,589.85 234,906,030.70 100.00% 917 621 1.582 1.604 Investments Cash and Accrued Interest Accrued Interest at Purchase 16 462.18 16,462.18 Subtotal 16,462.18 16,462.18 Total Cash and Investments 233,907,652.37 239,627,052.03 234,922,492.88 917 621 1.582 1.604 Total Earnings August 31 Month Ending Fiscal Year To Date Fiscal Year Ending Current Year 319,166.21 667,215.27 Current Budget 300,000.00 600.000.00 1,900,000.00 Last Year Actual 414,276.90 872,755.76 4,951,910.42 Average Daily Balance 238,570,893.05 251,322,208.26 Effective Rate of Return 1.58% 1.56% 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 3,2020.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 08/0112020-0813112020 Portfolio CITY AP Run Date:1 0/09/2020-1 1:58 PM(PRF PM1)7.3.0 Report Ver.7.3.6.1 36 City of Huntington Beach Portfolio Management Page 1 Portfolio Details - Investments August 31, 2020 Average Purchase Stated YTM Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Federal Agency Issues-Coupon 3133ECHX5 4292 Federal Farm Credit Bank 05/2312019 5,000,000.00 5,344,400.00 5,003,970.40 2,260 AA 2.236 1,289 03/13/2024 3133EKTG1 4296 Federal Farm Credit Bank 07/01/2019 5,000,000.00 5,144,600,00 4,993,736.11 1.750 1.821 668 07/01/2022 313383QR5 4281 Federal Home Loan Bank 12/20/2018 5,000,000.06 5,410,200.00 5,065,747.67 3.250 2.743 1,011 06109/2023 3130AFWX1 4285 Federal Home Loan Bank 02/26/2019 5,000,000.00 5.314,650,00 5,000,000.00 2.550 2.550 1,001 05/30/2023 3130AIW95 4297 Federal Home Loan Bank 06/27/2019 5,000,000.00 5,082,950.00 5,015,571.02 2.250 1.840 283 06/11/2021 3134G9N94 4257 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5,079,800.00 5,006,594.74 1,875 AA 1,723 329 07/27/2021 3134G92Y2 4258 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5,081,550.00 5,006,537.86 1.875 AA 1.733 350 08/17/2021 3137EAEN5 4287 Federal Home Loan Mort Corp 03/08/2019 3,000,000.00 3,209,670,00 3,023,744.58 2,750 2.460 1,021 06/19/2023 3137EAENS 4288 Federal Home Loan Mart Corp 03/14/2019 3,000,000.00 3,209,670.00 3,024,802.71 2.750 2.437 1,021 06/1912023 3134GUST3 4304 Federal Home Loan Mort Corp 01/30/2020 3,000,000.00 3,015,030.00 3,000,000.00 1.875 1.875 1,611 01/29/2025 3134GVLK2 4308 Federal Home Loan Mort Corp 04/23/2020 4,550,000.00 4,550,409.50 4,550,000.00 1.000 1.000 1,603 01/21/2025 3134GVLQ9 4309 Federal Home Loan Mort Corp 04/24/2020 5,000,000.00 5,002,950.00 5,000,000.00 1.050 AAA 1.050 1,695 04/23/2025 3134GVNH7 4310 Federal Home Loan Mort Corp 04129/2020 2,500,000.00 2,500,675.00 2,500,559.72 0.650 0.642 1,059 07/27/2023 3134GVNH7 4311 Federal Home Loan Mort Corp 04/29/2020 5,000,000.00 5,001,350.00 5,002,238.87 0.650 0.634 1,059 07/27/2023 3134GVPV4 4314 Federal Home Loan Mort Corp 04/30/2020 5,000,000.00 5,000,850.00 5,000,000.00 0.625 0.625 1,154 10/30/2023 3135GOU43 4289 Fed.Nat'l Mort.Assoc. 03/15/2019 5,000,000.00 5,400,150.00 5,058,429.56 2,875 2.465 1,106 09/12/2023 3136G4UM3 4307 Fed.Nat'l Mort.Assoc. 02/25/2020 5,000,000.00 5,012,650.00 5,000,000.00 1.800 AA 1.800 1,546 11125/2024 Subtotal and Average 78,352,336.73 76,050,000.00 78,361,554.50 76,251,933.24 1.745 1,030 Local Agency Investment Funds SYS982 982 Laif City 36,460,878.36 36,460,878.36 36,460,878.36 0.784 0.784 1 Subtotal and Average 38,009,265A6 36,460,878.36 36,460,878.36 36,460,878.36 0.784 1 Treasury Securities-Coupon 91282BYH7 4298 US Treasury Notes 12/05/2019 5,000,000.00 5,261,700.00 4,981,385.58 1.500 AAA 1.595 1,490 09/30/2024 912828P79 4299 US Treasury Notes 12/05/2019 3,000,000.00 3,101,730.00 2,994,582.19 1.500 AAA 1.574 910 02/28/2023 Subtotal and Average 7,975,691.06 8,000,000.00 8,363,430.00 7,975,967.77 1.587 1,272 Medium Term Notes 45818WBX3 4290 Inter-American Dev.Bank 03/28/2019 4,000,000.00 4,282,400.00 4,065,553.40 2.870 2.270 1,052 07/20/2023 45818WBY1 4291 Inter-American Dev.Bank 03/28/2019 5,000,000.00 5,365,050.00 5,096,477.66 2.960 2.271 1,079 08/16/2023 45818WCT1 4312 Inter-American Dev.Bank 04/29/2020 6,000,000.00 6,183,900.00 6,150,737.74 1.600 0.550 881 01/30/2023 459058HG1 4301 Intl Bk Recon&Development 12/16/2019 5,000,000.00 5,005,100.00 5,005,917.82 2.200 AAA 2.015 1,483 09/23/2024 Subtotal and Average 20,323,339.58 20,000,000.00 20,836,450.00 20,318,686.62 1.687 1,113 Portfolio CITY AP Run Date:10/092020-11:68 PM(PRF_PM2)7.3.0 Report Ver.7.3.6.1 37 City of Huntington Beach Portfolio Management Page 2 Portfolio Details -Investments August 31, 2020 Average Purchase Stated YTM Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Corporate Bonds 037833AR1 4262 Apple Inc. 06/2612017 5,000,000.00 5,093,250.00 5,028,351.26 2.850 AA 1.980 247 05/06/2021 037833DE7 4313 Apple Inc. 04/29/2020 5,000,000.00 5,241,950.00 5,190,519.10 2.400 0.720 864 01/13/2023 166764AH3 4294 Chevron Corp 05/24/2019 5,000,000.00 5,357,150.00 5,083,038.44 3.191 AA 2.528 1.026 06/24/2023 254687CR5 4300 Disney 12/16/2019 2,875,000.00 3,164,800.00 3,038,653.85 4,000 2.070 1,125 10/01/2023 375558AU7 4315 Gilead Sciences 04/30/2020 2,888,000.00 3,000,891.92 2,995,199.93 4.400 1.387 456 12/01/2021 375558AQ6 4316 Gilead Sciences 04/3012020 1,426,000.00 1,449,543.26 1,447,984.53 4,500 1.821 212 04/01/2021 437076BG6 4293 Home Depot Inc 05/24/2019 5,000,000.00 5,198,250.00 5,012,316.01 2.625 A 2.474 638 06/01/2022 459200HG9 4274 IBM Corp 09/28/2018 3,000,000,00 3,092,970.00 2,922,917.57 1,875 A 3.267 699 08101/2022 46625HRT9 4283 JP Morgan 01/31/2019 2,500,000.00 2,537,000.00 2,487,488.65 2.400 3.081 279 06107/2021 713448CX4 4280 PEPSICO INC 12/2112018 5,000,000.00 5,236,050.00 4,994,664.54 3.100 3.160 684 07/17/2022 882508BAl 4279 Texas Instruments Inc 12/21/2018 5,000,000.00 5,128,250.00 4,901,454.00 1.850 3.564 621 05/15/2022 904764AW7 4286 Unilever 03/01/2019 5,000,000.00 5,151,050.00 4,951,928.15 2.200 2.802 611 05/05/2022 904764AZO 4317 Unilever 04130/2020 3,710,000,00 3,762,607.80 3,751,685.65 2.750 0.727 202 03/22/2021 90331 HNV1 4306 US Bank NA Cincinnati 02121/2020 2,000,000.00 2,176,740.00 2,094,589.02 3.400 AA 1.671 1,056 07/24/2023 Subtotal and Average 53,912,356.88 53,399,000.00 55,590,502.98 53,900,790.70 2.274 639 ORANGE COUNTY POOL 0CP1 01 Orange County Invest Pool 39,997,774.01 39,997,774.01 39,997,774.01 1.144 1A44 1 Subtotal and Average 39,997,903.34 39,997,774.01 39,997,774.01 39,997,774.01 1.144 1 Total and Average 238,570,893.05 233,907,652.37 239,610,589.85 234,906,030.70 1.604 621 Portfolio CITY AP Run Date:10/09/2020-11:58 PM(PRF PM2)7.3.0 38 City of Huntington Beach Portfolio Management Page 3 Portfolio Details -Cash August 31, 2020 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 16,462.18 16,462.18 0 Subtotal 16,462.18 16,462.18 Total Cash and Investments 238,570,893.05 233,907,652.37 239,627,052.03 234,922,492.88 1.604 621 Portfolio CITY AP Run Date:10/09/2020-11:58 PM(PRF PM2)7.3.0 39 City of Huntington Beach Portfolio Management Page 1 Y Type ActivityB T e August 1, 2020 through August 31, 2020 Stated Transaction Purchases Redemptions CUSIP Investment# Issuer Rate Date or Deposits or Withdrawals Balance Federal Agency Issues-Coupon 3134GVAR9 4305 Federal Home Loan Mort Corp 1.900 08/14/2020 0.00 5,000,000.00 Subtotal 0.00 5,000,000.00 76,251,933.24 Local Agency Investment Funds (Monthly Summary) SYS982 982 Laif City 0.784 0.00 4,000,000.00 Subtotal 0.00 4,000,000.00 36,460,878.36 Treasury Securities-Coupon Subtotal 7,975,967.77 Medium Term Notes Subtotal 20,318,686.62 Corporate Bonds Subtotal 53,900,790.70 ORANGE COUNTY POOL (Monthly Summary) OCP1 01 Orange County Invest Pool 1.144 0.00 2,004.68 Subtotal 0.00 2,004.68 39,997,774.01 Total 0.00 9,002,004.68 234,906,030.70 Portfolio CITY AP Run Date:10/09=20-11:58 PM(PRF PM3)7.3.0 Report Vet.7.3.6.1 40 City of Huntington Beach Portfolio Management Page 1 Activity Summary August 2019 through August 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 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 1,171 685 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 March 2020 47 245,831,098.72 2.143 2.173 1.787 0 6 1,016 660 April 2020 51 245,648,128.94 1.867 1.893 1.648 10 3 958 685 May 2020 48 276,251,972.39 1,791 1.816 1.363 0 2 943 666 June 2020 47 268,106,206.75 1.602 1.624 1.217 1 7 809 591 July 2020 40 264,073,523.48 1.610 1.632 0.920 0 0 920 652 August 2020 40 238,570,893.05 1.582 1.604 0.784 0 1 917 621 Average 46 241,187,409.63 1.982% 2.010% 1.735 2 2 1,076 668 Portfolio CITY AP Run Date:10/09/2020-11:58 PM(PRF_PM4)7.3.0 Report Ver.7.3.6.1 41 City of Huntington Beach Portfolio Management Page 1 Interest Earnings Summary August 31, 2020 August 311VIonth Ending Fiscal Year To Date CD/Coupon/Discount Investments: Interest Collected 219,000.00 550,327.09 Plus Accrued Interest at End of Period 839,605.90 839,605.90 Less Accrued Interest at Beginning of Period ( 762,062.03) ( 792,361.15) Less Accrued Interest at Purchase During Period ( 0.00) { 0.00) Interest Earned during Period 296,543.81 597,571.84 Adjusted by Premiums and Discounts -41,850.76 -83,701.55 Adjusted by Capital Gains or Losses 0.00 0.00 Earnings during Periods 254,693.11 513,870.29 Pass Through Securities: Interest Collected 0.00 MO Plus Accrued Interest at End of Period 0.00 OM 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 MO 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 CashlChecking Accounts: Interest Collected 0.00 269,569.07 Plus Accrued Interest at End of Period 125,428.25 125,428.25 Less Accrued Interest at Beginning of Period ( 60,955.15) ( 241,652.34) Interest Earned during Period 64,473.10 153,344.98 Total Interest Earned during Period 361,016.97 750,916.82 Total Adjustments from Premiums and Discounts -41,850.76, -83,701.55 Total Capital Gains or Losses 0.00 0.00 Total Earnings during Period 319,166.21 667,215.27 Portfolio CITY AP Run Date:10/09/202 0-1 1:58 PM(PRF PM6)7.3.0 Report Ver.7.3.6.1 42 \%vEst,, 9 State of California w Pooled Money Investment Account J O Market Valuation 8131/2020 qF �� ``rr.t rou�oit+ Carrying Cost Plus Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury: Bills $ 36,205,859,643.80 $ 36,288,258,500.00 NA Notes $ 25,265,143,326.80 $ 25,612,684,500.00 $ 103,173,224.50 Federal Agency: SBA $ 481,216,654.70 $ 476,984,240.90 $ 204,563.30 MBS-REMICs $ 16,079,215.70 $ 16,968,311.99 $ 74,731.71 Debentures $ 2,591,434,623.24 $ 2,609,437,700.00 $ 9,492,993.58 Debentures FR $ - $ - $ - Debentures CL $ 625,000,000.00 $ 626,810,500.00 $ 1,164,499.25 Discount Notes $ 16,176,451,291.70 $ 16,195,147,500.00 NA Supranational Debentures $ 414,772,546.39 $ 417,252,150.00 $ 4,202,467,75 Supranational Debentures FR $ 200,128,103.33 $ 200,112,695.56 $ 105,525.20 CDs and YCDs FR $ 600,000,000.00 $ 600,199,000.00 $ 308,542.89 Bank Notes $ 100,000,000.00 $ 100,000,000.00 $ 956,666.67 CDs and YCDs $ 16,200,650,610.28 $ 16,201,293,567.81 $ 26,750,027.76 Commercial Paper $ 9,053,190,012.56 $ 9,068,750,870.50 NA Corporate: Bonds FR $ - $ - $ - Bonds $ - $ - $ - Repurchase Agreements $ - $ - $ - Reverse Repurchase $ $ - $ - Time Deposits $ 5,165,000,000.00 $ 5,165,000,000.00 NA AB 55 & GF Loans $ 687,402,000.00 $ 687,402,000.00 NA TOTAL I $ 113,782,328,028.50 1 $ 114,266,301,536.76 $ 146,433,242.61 Fair Value Including Accrued Interest $ 114,412,734,779.37 Repurchase Agreements, Time Deposits, AB 55 & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 43 Statement of Cash Receipts and Disbursements and Summary of Cash by Fund Finance Department ' August 2020 Cash Receipts and Disbursements July 2020 August 2020 Receipts General Fund Property Tax $ 880,790 $ 119,881 Local Sales Tax 3,603,927 3,637,572 Public Safety Sales Tax 149,133 214,854 Transient Occupancy Tax(TOT) 148,992 132,047 Utility Users Tax(UUT) 1,411,906 1,510,001 Other Revenue 4,128,192 5,884,867 Total General Fund Revenue 10,322,940 11,499,223 Total All Other Funds Revenue 15,482,898 9,567,408 Total Receipts $ 25,805,837 $ 21,066,631 Disbursements General Fund Personal Services (45,142,926) (11,276,362) Operating Expenses (4,774,827) (2,422,672) Capital Expenditures (315,413) Non-Operating Expenses (1,004,208) (1,202,207) Total General Fund Disbursements (51,237,375) (14,901,241) Total All Other Funds Disbursements (24,746,209) (19,002,841) Total Disbursements (75,993,584) (33,904,082) Net Change in Cash Flow $ (50,177,746) $ (12,837,451) Summary of Cash by Fund July 2020 August 2020 General Fund 29,826,107 $ 26,424,089 General Fund Other 6,041,962 6,030,592 Capital Projects Funds 31,989,839 29,169,340 Debt Service Funds 4,500,629 3,674,995 Enterprise Funds 82,758,420 84,131,275 Trust and Agency Funds 14,067,935 10,851,252 Internal Service Funds 37,044,027 36,750,571 Special Revenue Funds 49,270,414 45,629,768 General Ledger Cash Balances $ 255,499,333 $ 242,661,882 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. 44 i City of Huntington Beach City of Huntington Beach 2000 Main St. Portfolio Management Huntington Beach, Portfolio Summary September 30, 2020 Par Market Book %of Days to YTM YTM Investments Maturity Equiv. 365 Value Value Value Portfolio ty 360 E q Equiv. Federal Agency Issues-Coupon 76,050,000.00 78,277,105.00 76,244,174.06 34,52 1.485 1,000 1.721 1.745 Local Agency Investment Funds 27,460,878.36 27,460,878.36 27,460,878.36 12.43 1 1 0.676 0.685 Treasury Securities-Coupon 8,000,000.00 8,355,400.00 7,976,521.16 3.61 1,543 1,242 1,566 1.587 Medium Term Notes 15,000,000.00 15,798,060.00 15,302,954.51 6.93 1,355 962 1.558 1.579 Corporate Bonds 53,399,000.00 55,452,542.50 53,876,062.96 24.39 1,117 609 2.244 2.275 ORANGE COUNTY POOL 39,995,767.34 39,995,767.34 39,995,767.34 18.11 1 1 1.128 1.144 219,905,645.70 225,339,753.20 220,856,358.39 100.00% 935 606 1.594 1.616 Investments Cash and Accrued Interest Accrued Interest at Purchase 5,692.87 5,692.87 Subtotal 5.692,87 5,692.87 Total Cash and Investments 219,905,645.70 225,345,446.07 220,862,051.26 935 606 1.594 1.616 Total Earnings September 30 Month Ending Fiscal Year To Date Fiscal Year Ending Current Year 296,310.51 963,525.78 Current Budget 200,000.00 800,000.00 1,900,000.00 Last Year Actual 397,968.69 1,270,724.45 4,951,910.42 Average Daily Balance 225,447,508.77 242,884,806.25 Effective Rate of Return 1.60% 1.57% 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 3,2020.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 09/01/2020-09130/2020 Portfolio CITY AP Run Date:10/082020-14:24 PM(PRF_PM1)7.3.0 Report Ver,7,3.6.1 45 City of Huntington Beach Portfolio Management Page 1 Portfolio Details - Investments September 30, 2020 Average Purchase Stated YTM Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Federal Agency Issues-Coupon 3133ECHX5 4292 Federal Farm Credit Bank 05/23/2019 5.000,000.00 5,343,400.00 5.003,876.76 2.260 AA 2.236 1,259 03/13/2024 3133EKTG1 4296 Federal Farm Credit Bank 07/01/2019 5,000.000.00 5,138,500.00 4,994,020.83 1.750 1.821 638 07/01/2022 313383QR5 4281 Federal Home Loan Bank 12/20/2018 5,000,000.00 5,402,250.00 5,063,771.29 3.250 2.743 981 06/09/2023 3130AFWX1 4285 Federal Home Loan Bank 02/26/2019 5,000,000.00 5.305,800.00 5,000,000.00 2.550 2.550 971 05/30/2023 3130A1 W95 4297 Federal Home Loan Bank 06/27/2019 5,000,000.00 5,073,350,00 5,013,902,70 2.250 1.840 253 06/11/2021 3134G9N94 4257 Federal Home Loan Mort Corp 06114/2017 5,000.000.00 5,072,850.00 5,005,987.86 1.876 AA 1.723 299 07/27/2021 3134G92Y2 4258 Federal Home Loan Mort Corp 06/14/2017 5,000,000.00 5,075,650.00 5,005,970.99 1.875 AA 1.733 320 08/17/2021 3137EAEN5 4287 Federal Home Loan Mort Corp 03/08/2019 3,000,000.00 3,202,800.00 3,023,037.90 2.750 2.450 991 06/19/2023 3137EAEN5 4288 Federal Home Loan Mort Corp 03/14/2019 3,000,000.00 3,202,800.00 3,024,064.53 2.750 2.437 991 06/1912023 3134GU5T3 4304 Federal Home Loan Mort Corp 01/30/2020 3,000,000.00 3,010,950.00 3,000,000.00 1.875 1.875 1,581 01/29/2025 3134GVLK2 4308 Federal Home Loan Mort Corp 04/23/2020 4,550,000.00 4,55D,455.00 4,550,000.00 1.000 1.000 1,573 01/21/2025 3134GVLQ9 4309 Federal Home Loan Mort Corp 04/24/2020 5,000,000.00 5,001,150.00 5,000,000.00 1.050 AAA 1.050 1,665 04/23/2025 3134GVNH7 4310 Federal Home Loan Mort Corp 04/29/2020 2,500,000.00 2,500,300.00 2,500,543.66 0.650 0.642 1,029 07127/2023 3134GVNH7 4311 Federal Home Loan Mort Corp 04/29/2020 5,000,000.00 5.000,600.00 5,002,174.66 0.650 0.634 1,029 07/27/2023 3134GVPV4 4314 Federal Home Loan Mort Corp 04/30/2020 5,000,000.00 5,000,550.00 5,000,000.00 0.625 0.625 1,124 10/30/2023 3135GOU43. 4289 Fed.Nad Mort.Assoc. 03/15/2019 5,000,000.00 5,388,950.00 5,056,822.88 2.875 2.465 1,076 09/12/2023 3136G4UM3 4307 Fed.Ned Mort.Assoc. 02/25/2020 5,000,000.00 5,006,750.00 5,000,000.00 1.800 AA 1.800 1,516 11/25/2024 Subtotal and Average 76,247,924.34 76,050,000.00 78,277,105.00 76,244,174.06 1.745 1,000 Local Agency Investment Funds SYS982 982 Laif City 27,460,878.36 27,460,878.36 27:460,878.36 0.685 0.685 1 Subtotal and Average 28,360,878.36 27,460,878.36 27,460,878.36 27,460,878.36 0.685 1 Treasury Securities-Coupon 912828YH7 4298 US Treasury Notes 12/05/2019 5,000,000.00 5,256,850.00 4,981.760.36 1.500 AAA 1.595 1,460 09/30/2024 912828P79 4299 US Treasury Notes 12/05/2019 3,000,000.00 3,098,550.00 2,994,760.80 1,500 AAA 1.574 880 02/28/2023 Subtotal and Average 7,976,263.68 8,000,000.00 8,355,400.00 7,976,521.16 1.587 1,242 Medium Term Notes 45818WBX3 4290 Inter-American Dev.Bank 03/28/2019 4,000,000.00 4,271,080.00 4,063,660.62 2.870 2.270 1,022 07/20/2023 45818WBY1 4291 Inter-American Dev.Bank 03/28/2019 5,000,000.00 5,350,400.00 5,093,759.98 2.960 2.271 1,049 08/16/2023 45818WCT1 4312 Inter-American Dev.Bank 04/29/2020 6,000,000.00 6,176,580.00 6,145,533.91 1.600 0.550 851 01/30/2023 Subtotal and Average 18,978,670.35 15,000,000.00 15,798,060.00 15,302,954.61 1.579 962 Portfolio CITY AP Run Date:10/082020-14:24 _ PM(PRF_PM2)7.3.0 Report Ver.7.3.6.1 46 City of Huntington Beach Portfolio Management Page 2 Portfolio Details - Investments September 30, 2020 Average Purchase Stated YTM Days to Maturity CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate S&P 365 Maturity Date Corporate Bonds 037833AR1 4262 Apple Inc. 06/26/2017 5,000,000.00 5,074,500.00 5,024,879.68 2.850 AA 1,980 217 05/06/2021 037833DE7 4313 Apple Inc. 04/29/2020 5,000,000.00 5,223,500.00 5,183,810.68 2.400 0.720 834 01/13/2023 166764AH3 4294 Chevron Corp 05/24/2019 5,000,000m 5,343,250.00 5,080,579.25 3.191 AA 2.528 996 06/24/2023 254687CR5 4300 Disney 12/16/2019 2,875,000.00 3,157,727.50 3,034,230.77 4.000 2.070 1,095 10/01/2023 375558AU7 4315 Gilead Sciences 04/30/2020 2,888,000.00 2,989,022.24 2,988,053.27 4.400 1.387 426 12/01/2021 375558AQ6 4316 Gilead Sciences 04/30/2020 1,426,000.00 1,440,630.76 1,444,843.88 4.500 1.821 182 04/01/2021 437076BG6 4293 Home Depot Inc 05/24/2019 5,000,000.00 5,191,200.00 5,011,729.53 2.625 A 2.474 608 06/01/2022 459200HG9 4274 IBM Corp 09/28/2018 3,000,000.00 3,090,300.00 2,926,268.98 1.875 A 3.257 669 08/01/2022 46625HRT9 4283 JP Morgan 01/31/2019 2,500,000.00 2,531,350.00 2,488,848.58 2.400 3.081 249 06/07/2021 713448CX4 4280 PEPSICO INC 12/21/2018 5,000.000.00 5,231,150.00 4,994,901.32 3.100 3.160 654 07/17/2022 882508BAl 4279 Texas Instruments Inc 12/21/2018 5,000,000.00 5,123,650.00 4,906,268.95 1.850 3.564 591 05/1512022 904764AW7 4286 Unilever 03/01/2019 5,000.000,00 5,142,300.00 4,954,315.82 2.200 2.802 581 05/05/2022 904764AZO 4317 Unilever 04/30/2020 3,710.000.00 3,755,262.00 3,745,463.91 2.750 0.727 172 03/22/2021 90331HNV1 4306 US Bank NA Cincinnati 02/21/2020 2,000,000.00 2,158,700.00 2,091,868.34 3.400 AA 1.671 1,026 07/24/2023 Subtotal and Average 53,888,014.70 53,399,000.00 55,452,542.50 53,876,062.96 2.275 609 ORANGE COUNTY POOL OCP1 01 Orange County Invest Pool 39,995,767.34 39,995,767.34 39,995,767.34 1.144 1.144 1 Subtotal and Average 39,995,767.34 39,995,767.34 39,995,767.34 39,995,767.34 1.144 1 Total and Average 225,447,508.77 219,905,645.70 225,339,753.20 220,856,358.39 1.616 606 Portfolio CITY AP Run Date:10/082020-14:24 PM(PRF PM2)7.3.0 47 City of Huntington Beach Portfolio Management Page 3 Portfolio Details -Cash September 30, 2020 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 5,692.87 5,692.87 0 Subtotal 5,692.87 5,692.87 Total Cash and Investments 225,447,508.77 219,905,645.70 225,345,446.07- 220,862,051.26 1.616 606 Portfolio CITY AP Run Date:10/082020-14:24 PM(PRF_PM2)7.3.0 48 ` City of Huntington Beach City of Huntington Beach 2000 Main St. Activity Report Huntington Beach, 'f%B.'I., Sorted By Issuer September 1, 2020 - September 30, 2020 Par Value Par Value Percent Beginning Current Transaction Purchases or Redemptions or Ending CUSIP Investment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals Balance Issuer:Apple Inc. Corporate Bonds Subtotal and Balance 10,000,000.00 10,000,000.00 Issuer Subtotal 4.547% 10,000,000.00 0.00 0.00 10,000,000.00 Issuer: Chevron Corp Corporate Bonds Subtotal and Balance 5,000,000.00 5,000,000.00 Issuer Subtotal 2.274% 5,000,000.00 0.00 0.00 5,000,000.00 Issuer: Disney Corporate Bonds Subtotal and Balance 2,875,000.00 2,875,000.00 Issuer Subtotal 1.307! 2,875,000.00 0.00 0.00 2,875,000.00 Issuer: Federal Farm Credit Bank Federal Agency Issues-Coupon Subtotal and Balance 10,000,000.00 10,000,000.00 Issuer Subtotal 4.547% 10,000,000.00 O.DO 0.00 10,000,000.00 Issuer: Federal Home Loan Bank Federal Agency Issues-Coupon Subtotal and Balance 15,000,000.00 15,000,000.00 Issuer Subtotal 6.821% 15,000,000.00 O.OD 0.00 15,000,000.00 Portfolio CITY AP Run Date:10/072020-16.17 DA(PRF_DA)7.2.0 Report Ver.7.3.6.1 49 City of Huntington Beach Activity Report Page 2 September 1,2020-September 30,2020 Par Value Par Value Percent Beginning Current Transaction Purchases or Redemptions or Ending CUSIP lnvestment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals Balance Issuer: Federal Home Loan Mort Corp Federal Agency Issues-Coupon Subtotal and Balance 41,050,000.00 41,060,000.00 Issuer Subtotal 18.667% 41,050,000.00 0.00 0.00 41,050,000.00 Issuer: Fed.Nat'l Mort.Assoc. Federal Agency Issues-Coupon Subtotal and Balance 10,000,000.00 10,000,000.00 Issuer Subtotal 4.547% 10,000,000.00 0.00 0.00 10,000,000.00 Issuer:Gilead Sciences Corporate Bonds Subtotal and Balance 4,314,000.00 4,314,000.00 Issuer Subtotal 1.962% 4,314,000.00 0.00 0.00 4,314,000.00 Issuer:Home Depot Inc Corporate Bonds Subtotal and Balance 5,000,000.00 5,000,000.00 Issuer Subtotal 2.274% 5,000,000.00 0.00 0.00 6,000,000.00 Issuer:Inter-American Dev.Bank Medium Term Notes Subtotal and Balance 15,000,000.00 15,000,000.00 Issuer Subtotal 6.821% 15,000,000.00 0.00 0.00 15,000,000.00 Issuer:IBM Corp Corporate Bonds Subtotal and Balance 3,000,000.00 3,000,000.00 Portfolio CITY AP Run Date:101 2020-16:17 DA(PRF_DA)7.2.0 Report Ver.7,3.6.1 50 City of Huntington Beach Activity Report Page 3 September 1,2020-September 30,2020 Par Value Par Value Percent Beginning Current Transaction Purchases or Redemptions or Ending CUSIP Investment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals Balance Issuer Subtotal 1.3641/6 3,000,000.00 0.00 0.00 3,000,000.00 Issuer:Intl Bk Recon&Development Medium Term Notes 459058HG1 4301 Intl Bk Recon&Development 2.200 09/23/2020 0.00 5,000,000.00 Subtotal and Balance 5,000,000.00 0.00 5,000,000.00 0.00 Issuer Subtotal 0.000% 5,000,000.00 0.00 5,000,000.00 0.00 Issuer:JP Morgan Corporate Bonds Subtotal and Balance 2,500,000.00 2,500,000.00 Issuer Subtotal 1.137% 2,500,000.00 0.00 0.00 2,500,000.00 Issuer:Laif City Local Agency Investment Funds SYS982 982 Laif City 0.685 4,000,000.00 13,000,000.00 Subtotal and Balance 36,460,878.36 4,000,000.00 13,000,000.00 27,460,878.36 Issuer Subtotal 12A88% 36,460,878.36 4,000,000.00 13,000,000.00 27,460,878.36 Issuer:Orange County Invest Pool ORANGE COUNTY POOL 0CP1 01 Orange County Invest Pool 1.144 0,00 2,006.67 Subtotal and Balance 39,997,774.01 0.00 2,006.67 39,995,767.34 Issuer Subtotal 18.188%p 39,997,774.01 0.00 2,006.67 39,995,767.34 Issuer:PEPSICO INC Corporate Bonds Subtotal and Balance 5,000,000.00 5,000,000.00 Issuer Subtotal 2.2741/6 5,000,000.00 0.00 0.00 5,000,000.00 Portfolio CITY AP Run Date:10/07/2020-16:17 DA(PRF_DA)7.2.0 Report Ver.7.3.6.1 51 City of Huntington Beach Activity Report Page 4 September 1,2020-September 30,2020 Par Value Par Value Percent Beginning Current Transaction Purchases or Redemptions or Ending CUSIP Investment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals Balance Issuer:Texas Instruments Inc Corporate Bonds Subtotal and Balance 5,000,000.00 5,000,000.00 Issuer Subtotal 2.274% 5,000,000.00 0.00 0.00 5,000,000.00 Issuer:Unilever Corporate Bonds Subtotal and Balance 8,710,000.00 8,710,000.00 Issuer Subtotal 3.961 J> 8,710,000.00 0.00 0.00 8,710,000.00 Issuer: US Bank NA Cincinnati Corporate Bonds Subtotal and Balance 2,000,000.00 2,000,000.00 Issuer Subtotal 0.909% 2,000,000.00 0.00 0.00 2,000,000.00 Issuer: US Treasury Notes Treasury Securities-Coupon Subtotal and Balance 8,000,000.00 8,000,000.00 Issuer Subtotal 3.638% 8,000,000.00 0.00 0.00 8,000,000.00 Total 100.000% 233,907,652.37 4,000,000.00 18,002,006.67 219,906,645.70 Portfolio CITY AP Run Date:10/07t2020-16:17 DA(PRP DA)7.2.0 Report Ver.7.3.6.1 52 City of Huntington Beach Portfolio Management Page 1 Activity Summary September 2019 through September 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 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 March 2020 47 245,831,098.72 2.143 2.173 1.787 0 6 1,016 660 April 2020 51 245,648,128.94 1.867 1.893 1.648 10 3 958 685 May 2020 48 276,251,972.39 1.791 1.816 1.363 0 2 943 666 June 2020 47 268,106,206.75 1,602 1.624 1.217 1 7 809 591 July 2020 40 264,073,523.48 1.610 1,632 0.920 0 0 920 652 August 2020 40 238,570,893,05 1,582 1.604 0.784 0 1 917 621 September 2020 39 225,447,508.77 1.594 1.616 0.685 0 1 935 606 Average 46 241,318,737.52 1.938% 1.965% 1.608 2 2 1,046 655 Portfolio CITY AP Run Date:10/082020-14:24 PM(PRF_PM4)7.3.0 Report Ver.7.3.6,1 53 City of Huntington Beach Portfolio Management Page 1 Interest Earnings Summary September 30, 2020 September 30Month Ending Fiscal Year To Date CD/Coupon/Discount Investments: Interest Collected 261,118.19 811,445.28 Plus Accrued Interest at End of Period 868,889.31 868,889.31 Less Accrued Interest at Beginning of Period ( 839,605.90) { 792,361.15) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period 290,401.60 887,973.44 Adjusted by Premiums and Discounts -41,836.87 -125,538.42 Adjusted by Capital Gains or Losses -5,828.77 -5,828.77 Earnings during Periods 242,735.96 756,606.25 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 0.00 269,569.07 Plus Accrued Interest at End of Period 179,002.80 179,002.80 Less Accrued Interest at Beginning of Period ( 125,428.25) ( 241,652.34) _ Interest Earned during Period 53,574.55 206,919.53 Total Interest Earned during Period 343,976.15 1,094,892.97 Total Adjustments from Premiums and Discounts 41,836.87 -125,638.42 Total Capital Gains or Losses -5,828.77 -5,828.77 Total Earnings during Period 296,310.51 963,525.78 Portfolio CITY AP Run Date:1 0/08/2020-1 4:24 PM(PRF_PM6)7.3.0 Report Ver.7.3.6.1 54 1�tsvEST�f'y9 State of California Pooled Money Investment Account Market Valuation 9/30/2020 y, Carrying Cost Plus Description Accrued Interest Purch. Amortized Cost Fair Value Accrued Interest 1* United States Treasury: Bills $ 37,417,824,629.29 $ 37,474,728,617.52 $ 37,487,632,500.00 NA Notes $ 24,217,353,058.19 $ 24,217,068,836.30 $ 24,537,427,000.00 $ 100,593,584.00 1* Federal Agency: SBA $ 478,234,257.41 $ 478,234,257.41 $ 473,998,037.29 $ 203,278.39 MBS-REMICs $ 15,101,609.67 $ 15,101,609.67 $ 15,926,606.86 $ 70,087.53 Debentures $ 2,733,358,224.09 $ 2,732,582,182.96 $ 2,748,442,680.00 $ 6,581,289.90 Debentures FR $ - $ - $ - $ _ Debentures CL $ 725,000,000.00 $ 725,000,000.00 $ 725,479,000.00 $ 1,769,501.00 Discount Notes $ 15,463,600,958.36 $ 15,374,456,486.18 $ 15,475,375,200.00 NA 1* Supranational Debentures $ 515,860,149.28 $ 515,678,738.16 $ 517,238,400.00 $ 2,195,871.75 1* Supranational Debentures FR $ 200,097,007.00 $ 200,097,007.00 $ 200,087,081.70 $ 118,962.61 2* CDs and YCDs FR $ 600,000,000.00 $ 600,000,000.00 $ 600,157,000.00 $ 139,847.22 2* Bank Notes $ - $ _ $ _ $ _ 2* CDs and YCDs $ 13,700,405,817.10 $ 13,700,183,594.88 $ 13,699,564,192.25 $ 15,421,222.21 2* Commercial Paper $ 7,509,491,061.13 $ 7,517,418,898.58 $ 7,518,422,005.55 NA 1* Corporate: Bonds FR $ $ _ $ _ $ _ Bonds $ - $ - $ _ $ _ 1* Repurchase Agreements $ - $ - $ - $ _ 1* Reverse Repurchase $ - $ - $ _ $ _ Time Deposits $ 4,929,000,000.00 $ 4,929,000,000.00 $ 4,929,000,000.00 NA AB 55 & GF Loans $ 694,298,000,00 $ 694,298,000.00 $ 694,298,000.00 NA TOTAL $ 109,199,624,771.52 $ 109,173,848,228.66 $ 109,623,047,703.65 $ 127,093,644.61 Fair Value Including Accrued Interest $ 109,750,141,348.26 * 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(1.004114534). 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$20,082,290.67 or$20,000,000.00 x 1.004114534. 55 Statement of Cash Receipts and Disbursements and Summary of Cash by Fund Finance Department September 2020 Cash Receipts and Disbursements August 2020 September 2020 Receipts General Fund Property Tax $ 119,881 $ 954,406 Local Sales Tax 3,637,572 3,609,238 Public Safety Sales Tax 214,854 201,279 Transient Occupancy Tax(TOT) 132,047 309,660 Utility Users Tax(UUT) 1,510,001 1,564,180 Other Revenue 5,884,867 4,059,995 Total General Fund Revenue 11,499,223 10,698,759 Total All Other Funds Revenue 9,567,408 11,746,740 Total Receipts 21,066,631 $ 22,445,498 Disbursements General Fund Personal Services (11,276,362) (11,634,847) Operating Expenses (2,422,672) (3,985,369) Capital Expenditures Non-Operating Expenses (1,202,207) (4,208) Total General Fund Disbursements (14,901,241) (15,624,425) Total All Other Funds Disbursements (19,002,841) (13,407,871) Total Disbursements (33,904,082) (29,032,297) Net Change in Cash Flow $ (12,837,451) $ (6,586,798) Summary of Cash by Fund August 2020 September 2020 General Fund 20,941,692 $ 16,016,025 General Fund Other 5,973,019 5,951,277 Capital Projects Funds 29,195,139 29,037,459 Debt Service Funds 11,535,320 11,670,634 Enterprise Funds 84,115,400 86,187,826 Trust and Agency Funds 11,263,919 9,954,823 Internal Service Funds 33,872,493 33,193,693 Special Revenue Funds 45,764,901 44,063,345 General Ledger Cash Balances $ 242,661,882 $ 236,076,084 ' 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. 56 City of Huntington Beach Quarterly Investment Re p ort Quarter Ending: September 2020 PREPARED BY: ALISA BACKSTROM, MBA, CCMT, CPFIM CITY TREASURER COLIN STEVENS, MPP TREASURY ASSOCIATE ❑ Unemployment rate decreased to 7.9% for September (from high of 14. 7% in April ) ❑ Federal Reserve held rates stable at 0-0. 25% since March ❑ Core PCE price index up 0.3% July to • August ❑ September Consumer confidence increased to 101 .8, up from 86. 3 in August (still below pre-COVID levels) ❑ Equity Markets 9/30 YTD : S& P up 4.09% DJ IA down 2 . 65% ❑ Treasury yields at historic lows with target Fed Funds rate at 0-0. 25% since March Li At 9/30 : 2-year US Treasury yield 0. 13%, 10-year US Treasury yield 0. 69% C] = VERY LOW YIELD ON ALL ALLOWABLE INVESTMENTS FOR CITY PORTFOLIO 2Yr Tsy Treasury Rates �— 5Yr Tsy 9/3 0/19 - 9/3 0/2 0 10Yr Tsy , UN 1 50 ,o ,w e 1 10 . 1 Do e090 . » o 90 0.70 •iro +ar.,.y au0 o we�c ue O i0 0.50 i 040 •Hi .au m nr 0.30 • u„ irn 0.20 •IA 010 r Portfolio Summary As of 9/30/20 AS OF: September 30, 2020 Investment Type $ in 000's Market Value Book Value % of Portfolio Federal Agency Issues $ 78,277 $ 76,244 34.5% Local Agency Investment Fund (LAIF) $ 27,461 $ 27,461 12.4% Treasury Securities $ 8,355 $ 79977 3.7% Medium Term Notes - IADB $ 15,798 $ 15,303 6.9% Corporate Bonds $ 55,453 $ 539876 24.4% OC Investment Pool $ 39,996 $ 39,996 18.1% TOTAL $ 225,340 $ 220,856 100% Investments byType As of 9/30/20 OC Investment Pool, 18.1% Federal Agencies, 34.5% Medium Term Notes, 6.9% Treasuries, 3.6% Corporate Bonds, 24.4% LAIF, 12.4% Portfolio Earnings As of 9/30/20 AS OF: September 30, 2020 Total Earnings Month: September Fiscal YTD Current Year $ 296,310 $ 963,526 Current Budget $ 200,000 $ 800,000 Last Year Actual $ 397,968 $ 1 ,270,724 Average Daily Balance $ 225,447,508 $ 242,884,806 Effective Rate of Return 1 .60% 1 .57% Benchmark * 0.77% n/a *12-month moving average of interpolated 1.5-year treasury MonthlyActivity September 2020 MONTHLY ACTIVITY: September 2020 Investment Type Purchases/ Calls/Maturities $ in 000's Deposits /Withdrawals Federal Agency Issues Local Agency Investment Fund (LAIF) * $ 4,000,000 $ 13,000,000 Medium Term Notes - IADB/IBRD $ - $ 5,000,000 Corporate Bonds $ - $ - Treasury Securities $ - $ - OC Investment Pool * $ - (a) 2,007 TOTAL $ 4,000,000 $ 18,002,007 *Includes Interest Income a OCIP Investment Admin Fee Quarterly Activity July - September 2020 QUARTERLY ACTIVITY: July 1 to September 30, 2020 Investment Type Purchases/ Calls/Maturities $ in 000's Deposits /Withdrawals Federal Agency Issues $ - $ 5,000,000 Local Agency Investment Fund (LAIF) * $ 4,269,569 $ 51 ,000,000 Medium Term Notes - IADB/IBRD $ - $ 5,000,000 Corporate Bonds $ - $ - Treasury Securities $ - $ - OC Investment Pool * $ - (a) 4,233 TOTAL $ 4,269,569 $ 61 ,004,233 *Includes Interest Income a OCIP InvestmentAdmin Fee Selected Compliance Requirements 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 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 $75,000,000 None LAIF YES Orange County Investment Pool N/A N/A None OCIP YES Maximum Maturities No more than 50%of portfolio maturing over 4 years. YES TNo issues of non-compliance LISafety — No principal losses LJ Liq u id ity — Suff icient f u nds for operating needs V LJ Effective Rate of Return - N M September 1 . 60% LI Prudently managed — No compliance issues LJ Positive contributor to City — Earnings offset taxpayer funds QUESTIONS ?.