Title
Recommendation to Accept the Investment Transactions Report and Annual Investment Report for the Fiscal Year Ending June 30, 2022. [City Council and SACIC] (Finance 10024051)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
This report presents the City of Alameda's (City) Investment Transactions Report for the twelve month period ending June 30, 2022, as well as an Annual Investment Report which provides a status of the current investment portfolio over the past fiscal year. This report lists all of the City's investments, computes average yield and average life of the portfolio as well as all required elements shown in the Investment Transactions Report for each investment of the City's overall portfolio.
The report has been prepared to comply with regulations contained in the California Government Code Section 53646 and the City's Investment Policy.
The City's Investment Portfolio is in compliance with its Statement of Investment Policy. The City has sufficient funds to meet its pool's expenditure requirements for the next six months. This report has been reviewed and approved by the City Treasurer, Kevin Kennedy.
BACKGROUND
In accordance with the Investment Policy, an Investment Transactions Report is provided to the City Council for review each Quarter and an Annual Investment Report of the Fiscal Year. Attached is the Investment Transactions Report for the twelve month period ending June 30, 2022 as well as an Annual Investment Report which provides a status of the current investment portfolio over the past fiscal year.
DISCUSSION
The City utilizes U.S. Bank as its third-party custodian for safekeeping of all investments.
The investments are managed by PFM Asset Management (PFM) and Chandler Asset Management (Chandler), the City's two registered investment managers. Both PFM and Chandler are responsible for managing investments of up to five years maturity, all of which have been made in accordance with...
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