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Page 1 of 6 <br />Item #8 <br /> CITY COUNCIL AGENDA REPORT <br /> <br />November 19, 2024 <br />Finance <br /> <br />TITLE: ACCEPT THE MONTHLY DISBURSEMENT AND INVESTMENT REPORT FOR <br />SEPTEMBER 2024 <br /> <br />SUMMARY <br />Attached is the City of Pleasanton monthly disbursement and investment report for September <br />2024. <br /> <br />RECOMMENDATION <br />Accept claim disbursements in the amount of $18,037,004 and the investment report for the <br />month of September 2024. <br /> <br />BACKGROUND <br />The City's Investment Policy requires the Director of Finance to submit a monthly transaction <br />report to the City Council within 60 days of the end of the reporting period in accordance with <br />California Government Code Section 53607. <br /> <br />The Investment Policy also requires the Director of Finance to submit a quarterly report to the <br />City Council on the status of the City's investment portfolio no later than 45 days after the end <br />of each month. This report shall include the types of investments, the amount of money <br />invested with various institutions, purchase and maturity dates, and yield on investments. The <br />Director of Finance certifies that the investment portfolio complies with the investment policy <br />and will meet cash flow needs for the next six months. This report also includes check and <br />electronic payment information for September 2024. <br /> <br />DISCUSSION <br />The book value of the City of Pleasanton primary investment portfolio decreased by $31.1 <br />million from $257.9 million to $226.8 million during the quarter ending September 30, 2024. <br />This decrease was primarily due to large disbursements to various vendors related to the new <br />fiscal year (liability insurance premium, prepayment for unfunded pension liability, etc.). The <br />fiscal year-to-date effective rate of return on the portfolio was 1.87 percent. The average days <br />to maturity (ADM) decreased from 443 days on June 30, 2024, to 428 days on September 30, <br />2024. <br /> <br />Local Agency Investment Fund <br />The City's investment in the Local Agency Investment Fund (LAIF) decreased to $39.3 million <br />from $69.5 million during the quarter ending September 30, 2024. The quarterly LAIF <br />apportionment interest rate was 4.71 percent with ADM of 231 days. The average monthly <br />effective yield was 4.58 percent in September, 4.58 percent in August, and 4.52 percent in <br />July. <br /> <br />During the quarter, two medium-term notes matured, Paccar Inc. on August 15, 2024, for <br />Page 95 of 658