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City of San Leandro <br />Meeting Date: May 3, 2021 <br />Staff Report <br />Agenda Section:File Number:21-254 CONSENT CALENDAR <br />Agenda Number:8.E. <br />TO:City Council <br />FROM:Fran Robustelli <br />Interim City Manager <br />BY:Susan Hsieh <br />Finance Director <br />FINANCE REVIEW:Susan Hsieh <br />Finance Director <br />TITLE:Staff Report for a City of San Leandro City Council Resolution Approving the <br />Investment Report for the Quarter Ended March 31, 2021 <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends the City Council review and accept the investment report for the quarter ended <br />March 31, 2021. <br />BACKGROUND <br />The purpose of the City Council Investment Report is to inform the City Council of the City’s <br />investment portfolio status as of the end of the quarter, March 31, 2021. The City’s Investment <br />Policy Statement requires this quarterly report on types of investments, amounts invested with <br />approved institutions, and purchase and maturity dates and interest yields. <br />DISCUSSION <br />As of March 31, 2021, the City’s investment portfolio had a market value of $178.7 million, $9.3 <br />million higher than the prior quarter ended December 31, 2021. The increase was mainly due to <br />payments from the county for the ROPS and property tax totaling $9.9 million. <br />Of the total market value, $56.5 million was placed with the Local Agency Investment Fund (LAIF) <br />and bank accounts and $106.2 million was placed in the Chandler Asset Management portfolio. <br />The rate of return for LAIF at the end of the quarter was 0.44%, while the average book yield for <br />the Chandler managed funds was 1.62%. The LAIF return was 0.19% less than previous quarter, <br />while the Chandler return was 0.16% lower. LAIF’s investment rate reflects a snapshot in time <br />(the quarterly apportionment rate), while Chandler’s reflects the performance of the portfolio over <br />the entire quarter. <br />The City’s investment policy establishes three criteria for the performance standard, the LAIF rate <br />of return and the rates for both 2-year and 5-year U.S. Treasury securities. Amounts invested in <br />Page 1 City of San Leandro Printed on 4/29/2021 <br />115