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City of San Leandro Meeting Date: October 4, 2021 Staff Report Agenda Section:File Number:21-514 CONSENT CALENDAR Agenda Number:8.I. TO:City Council FROM:Fran Robustelli City Manager BY:Susan Hsieh Finance Director FINANCE REVIEW:Susan Hsieh Finance Director TITLE:Staff Report for a City of San Leandro City Council Resolution Approving the Investment Report for the Quarter Ended June 30, 2021 SUMMARY AND RECOMMENDATIONS Staff recommends the City Council review and accept the investment report for the quarter ended June 30, 2021. BACKGROUND The purpose of the City Council Investment Report is to inform the City Council of the City’s investment portfolio status as of the end of the quarter, June 30, 2021. The City’s Investment Policy Statement requires this quarterly report on types of investments, amounts invested with approved institutions, and purchase and maturity dates and interest yields. DISCUSSION As of June 30, 2021, the City’s investment portfolio had a market value of $200.0 million, $21.3 million higher than last quarter ended March 31, 2021. The increase was mainly due to $9.3 million in American Rescue Plan Act funds from the U.S. Treasury and $13.7 million in property tax from the County. The increase was offset by approximately $2.9 million in debt service payment. Of the total market value, $74.5 million was placed with the Local Agency Investment Fund (LAIF) and bank accounts and $111.3 million was placed in the Chandler Asset Management portfolio. A portion of the funds in the LAIF account was used to pay for fiscal year 2021-22 unfunded pension liability in July. The rate of return for LAIF at the end of the quarter was 0.33%, while the average book yield for the Chandler managed funds was 1.35%. The LAIF return was 0.11% less than previous quarter, while the Chandler return was 0.27% lower. LAIF’s investment rate reflects a snapshot in time Page 1 City of San Leandro Printed on 9/15/2021