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City of San Leandro <br />Meeting Date: November 15, 2021 <br />Staff Report <br />Agenda Section:File Number:21-624 CONSENT CALENDAR <br />Agenda Number:8.F. <br />TO:City Council <br />FROM:Fran Robustelli <br />City Manager <br />BY:Susan Hsieh <br />Finance Director <br />FINANCE REVIEW:Susan Hsieh <br />Finance Director <br />TITLE:Staff Report for City of San Leandro City Council Resolution Approving the <br />Investment Report for the Quarter Ended September 30, 2021 <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends the City Council review and accept the investment report for the quarter ended <br />September 30, 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, September 30, 2021. The City’s <br />Investment Policy Statement requires this quarterly report on types of investments, amounts <br />invested with approved institutions, purchase and maturity dates, and interest yields. <br />DISCUSSION <br />As of September 30, 2021, the City’s investment portfolio had a market value of $178,532,000 <br />which is $21,446,000 lower than the quarter ending June 30,2021. The decrease was due to <br />prepayment of the Fiscal Year (FY) 2021-22 unfunded liabilities to CalPERS ($15,400,000), <br />contractual payment to Alameda County Fire Department ($4,700,0000), and the annual <br />contribution to the Pension Trust ($1,500,000). $57,110,000 of the total market value was placed <br />with the Local Agency Investment Fund (LAIF) and bank accounts. $111,323,000 was placed in <br />the Chandler Asset Management portfolio. <br />The rate of return for LAIF at the end of the quarter was 0.24%, while the average book yield for <br />the Chandler managed funds was 1.21%. The LAIF return was 0.09 percentage points lower than <br />in the first quarter, while the Chandler return dropped 0.14 percentage points. LAIF’s investment <br />rate reflects a snapshot in time (the quarterly apportionment rate), while Chandler’s reflects the <br />performance of the portfolio over the entire quarter. <br />Page 1 City of San Leandro Printed on 11/12/2021142