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Page 1 of 6 <br />Item #6 <br /> CITY COUNCIL AGENDA REPORT <br /> <br />February 18, 2025 <br />Finance <br /> <br />TITLE: ACCEPT THE MONTHLY DISBURSEMENTS AND INVESTMENT REPORT FOR <br />DECEMBER 2024 <br /> <br />SUMMARY <br />Attached is the City of Pleasanton monthly disbursement and investment report for December <br />2024. <br /> <br />RECOMMENDATION <br />Accept claim disbursements in the amount of $21,578,672 and the investment report for the <br />month of December 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 December 2024. <br /> <br />DISCUSSION <br />Investments <br />The book value of the City of Pleasanton primary investment portfolio increased by $14.0 <br />million from $226.8 million to $240.8 million during the quarter ending December 31, 2024. <br />This increase was mainly due to revenue from property tax. The fiscal year-to-date effective <br />rate of return on the portfolio was 1.74 percent. The average days to maturity (ADM) <br />decreased from 428 days on September 30, 2024, to 345 days on December 31, 2024. <br /> <br />The City's investment in the Local Agency Investment Fund (LAIF) book value increased to <br />$52.9 million from $39.3 million last quarter ending September 30, 2024. The quarterly LAIF <br />apportionment interest rate was 4.62 percent with an ADM of 252 days. The average monthly <br />effective yield was 4.43 percent in December, 4.48 percent in November, and 4.52 percent in <br />October. <br /> <br />During the quarter, the medium-term note with Toyota Motor Credit Corp matured on October <br />7, 2024, for approximately $1.6 million, including interest. The Certificate of Deposit with <br />Fremont Bank matured and was reinvested. As of December 31, 2024, approximately 65.9 <br />Page 169 of 749