Title
Calendar Year 2024, Fourth Quarter City of San Leandro Investment Report Update
Staffreport
CITY COUNCIL PRIORITY
? Fiscal Sustainability and Transparency
SUMMARY
City of San Leandro Investment Report for the quarter ending December 31, 2024 is for information only.
RECOMMENDATION
Staff recommends the City Council Finance Committee review the City's Investment Report for the quarter ending December 31, 2024.
BACKGROUND
The purpose of the City of San Leandro Investment Report is to inform the City Council of the investment portfolio status as of the quarter ending, December 31, 2024. The City's Investment Policy Statement requires quarterly reporting on specific investments, amounts invested with approved institutions, purchases, maturity dates and interest yields.
Analysis
CITY INVESTMENT REPORT
As of December 31, 2024, the City's investment portfolio had a market value of $222,459,534, which is nearly $3,384,250 less than the prior quarter, ending on September 30, 2024. A total of $30,540,647 of the market value is placed with the Local Agency Investment Fund (LAIF) and other bank accounts. The Chandler Asset Management portfolio totaled $191,918,887 on the same date.
The rate of return for cash deposits at LAIF the end of the quarter was 4.43%, the bank transactions yielding 0.71% rate of return, while the average market yield for the Chandler managed funds was 4.43%. LAIF's investment (54.85% of cash deposits) return reflects a snapshot in time (the quarterly apportionment rate), while Chandler's shows performance of the portfolio over the entire quarter.
The City's investment policy establishes criteria for the standard for portfolio performance. The Chandler managed fund criteria are compared with the ICE Bank of America 1-3-year US Treasury and Agency Index. This index is an unmanaged index tracking performance of direct sovereign debt of the U.S. Government having a maturity of at least one year and less than three years. The b...
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