Staff Report with attachments
PREPARED BY: Stephen Conway
Finance Director
Reviewed by: Town Manager, Assistant Town Manager, and Town Attorney
110 E. Main Street Los Gatos, CA 95030 ● 406-354-6832
www.losgatosca.gov
TOWN OF LOS GATOS
FINANCE COMMISSION REPORT
MEETING DATE:05/17/2022 ITEM NO: 6
DATE: May 11, 2022
TO: Mayor and Town Council
FROM: Laurel Prevetti, Town Manager
SUBJECT: Receive the Third Quarter Investment Report (January through March 2022)
for Fiscal Year 2021/22
RECOMMENDATION:
Receive the Third Quarter Investment Report (January through March 2022) for Fiscal Year (FY)
2021/22.
DISCUSSION:
The Finance Commission received this report on May 9, 2022.
As of March 31, 2022, the Town’s weighted portfolio yield was 1.16% which trended
approximately 79 basis points above the Local Agency Investment Fund (LAIF) yield of 0.37%.
This favorable yield differential to LAIF was primarily due to the LAIF portfolio’s lower weighted
average maturity (WAM) of 310 days versus the Town’s longer WAM of 470 days. The Town’s
weighted average rate of return of 1.16% at the close of the third quarter in 2022 was 27 basis
points lower when compared to the third quarter return of 1.43% in 2021.
In the third quarter of FY 2021/22, LAIF yields climbed from 23 basis points (0.23%) to 37 basis
points (0.365%) through the end of March 2022. Staff in coordination with the Town’s
investment advisor primarily replaced maturing investments in shorter to medium term
maturities in the two- to three-year maturity range. These investments capture current yields
that exceed the rates expected to be earned in the State Local Agency Investment Fund (LAIF)
pool during that same time period. The State LAIF pool typically lags the market when current
market yields are either increasing or decreasing.
PAGE 2 OF 2 SUBJECT: Receive the Third Quarter Investment Report (January through March 2022) for Fiscal Year 2021/22 DATE: May 11, 2022
DISCUSSION (continued):
Interest rates rose across the board during the quarter. The rise in short term rates was
influenced by the Federal Reserve implementing its first Federal Funds rate hike since 2018.
The Feds quarterly “dot plot” continues to illustrate multiple rate hikes in the coming year.
The median projection rose to seven rate hikes this year, up from four in the December 2021
meeting. In addition, the Consumer Price Index (CPI) recorded another multi-decade high in
line with expectations at 7.9% year on year.
CONCLUSION:
Staff recommends that the Town Council receive the Third Quarter Investment Report (January
through March 2022) for Fiscal Year 2021/22.
Attachment:
1. Third Quarter Investment Report for FY 2021/22 (January through March 2022)
Town of Los Gatos
Summary Investment Information
March 31, 2022
Weighted Average YTM Portfolio Yield: 1.16%Weighted Average Maturity (days)470
This Month Last Month One year ago
Portfolio Balance $71,616,902 $71,083,516 $63,051,470
Benchmarks/ References:
Town's Average Yield 1.16%1.17%1.43%
LAIF Yield for month 0.37%0.28%0.36%
3 mo. Treasury 0.51%0.32%0.02%
6 mo. Treasury 1.03%0.66%0.04%
2 yr. Treasury 2.34%1.44%0.16%
5 yr. Treasury (most recent)2.46%1.72%0.94%
10 Yr. Treasury 2.34%1.83%1.74%
0 -1 year
30%
1 -2 years30%
2 -3 years25%
3 -5 years
15%
Portfolio Maturity Profile
Compliance:The Town's investments are in compliance with the Town's investment policy dated September 21, 2021and also in compliance with the requirements of Section 53601 of the California State Code. Based on the information available,the Town has sufficient funds to meet the cash demands for the next six months.
Page 1
ATTACHMENT 1
Town of Los Gatos
Portfolio Allocation & Treasurer's Fund Balances
March 31, 2022
Month YTD
Fund Balances - Beginning of Month/Period $71,083,516.26 $67,951,235.09
Receipts 4,246,952.04 53,115,796.21Disbursements(3,713,566.56)(49,450,129.56)
Fund Balances - End of Month/Period $71,616,901.74 $71,616,901.74
Portfolio Allocation:% of Portfolio Max. % 0r $ Allowed Per State Law or Policy
BNY MM $247,510.43 0.46%20% of Town PortfolioUS Treasury Notes $10,046,915.87 18.82%No Max. on US Treasuries
Government Agency Debenture Notes $22,858,340.87 42.81%No Max. on Non-Mortgage Backed
Corporate Medium Term Bonds $13,340,489.68 24.99%30% of Town Portfolio
Local Agency Investment Fund $6,900,032.98 12.92%$75 M per State Law
Subtotal - Investments 53,393,289.83 100.00%
Reconciled Demand Deposit Balances 18,223,611.91
Total Treasurer's Fund $71,616,901.74
BNY MM0.46%US Treasury Notes18.82%
Government Agency Debenture Notes42.81%
Corporate Medium Term Bonds25.0%
Local Agency Investment Fund12.9%
Portfolio Investment Allocation
52000000
54000000
56000000
58000000
60000000
62000000
64000000
66000000
68000000
70000000
72000000
74000000
Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22
Treasurer's Fund Balances
page 2
Town of Los Gatos
Non-Treasury Restricted Fund BalancesMarch 31, 2022 MAR 22 MAR 22 MAR 22BeginningDepositsInterest/Ending
Balance Realized Gain/Adj.Earnings Withdrawals Balance
Non-Treasury Funds:
`
Cert. of Participation 2002 Series A Reserve Fund 686,324.26 5.32$ 686,329.58$ Note 1Cert. Of Participation 2010 Ser A Lease Pymt Fund 0.65 0.65$ Note 1
Cert. of Participation 2002 Lease Payment Fund 0.16 0.16$ Note 1
Cert. of Participation 2010 Series Reserve Fund 1,277,137.83 10.65 1,277,148.48 Note 2
Total Restricted Funds:1,963,462.90$ -$ 15.97$ -$ 1,963,478.87$
CEPPT IRS Section 115 Trust 0.00 0.00 0.00 0.00 0.00
Grand Total COP's and CEPPT Trust 1,963,462.90$ -$ 15.97$ -$ 1,963,478.87$
These accounts are not part of the Treasurer's fund balances reported elsewhere in this report, as they are for separate and distinctentities.
Note 1: The three original funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the
next few years, reserve funds which will guarantee the payment of lease payments, and a third fund for the disbursement of lease payments
and initial delivery costs.
Note 2: The 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010.
Note 3: The CEPPT Section IRS Section 115 Trust was established as an irrevocable trust dedicated to accumulate resources to fund the Town's unfunded liabilities related to pension and other p
Page 3
Town of Los Gatos
Statement of Interest Earned
March 31, 2022
Interest by Month
July 2021 $57,076.80
August 2021 56,600.18
September 2021 54,523.00
October 2021 54,951.68
November 2021 51,445.84
December 2021 55,030.55
January 2022 51,909.39
February 2022 46,264.19
March 2022 50,912.58
April 20202
May 2022
June 2022
$478,714.21
Page 4
Town of Los Gatos Investment Schedule March 2021
Maturity Yield to Interest Interest Interest DaysDepositParOriginalMarketPurchasedDate or Maturity Received Earned Earned toInstitutionCUSIP #Security Date Value Cost Value Interest Call Date or Call to Date Prior Yrs.Current FY MaturityTreasury91282CAP6US Treasury Note 6/30/2021 1,000,000.00 995,390.63 979,843.75 10/15/2023 0.33%365.44$ -$ 2,447.28$ 563Toyota Motor Credit 89236THA6_1 Corporate Bond 04/12/21 500,000.00 510,580.00 498,257.41 8/25/2023 0.45%5,868.75$ 494.69$ 1,715.77$ 512Toyota Motor Credit 89236THA6 Corporate Bond 1/11/2022 1,100,000.00 1,107,315.00 1,594,423.71 8/25/2023 0.94%1,815.00$ -$ 2,236.30$ 512US Treasury 91282CDD0 US Treasury Note 1/13/2022 1,100,000.00 1,090,675.78 1,081,265.63 843.23 10/31/2023 0.85%(843.23)$ -$ 1,964.66$ 579US Treasury 91282CCN9 US Treasury Note 1/13/2022 1,200,000.00 1,188,375.00 1,180,265.63 7/31/2023 0.75%73.37$ -$ 1,903.54$ 487FFCB3133EKMX1Gov. Agency Debenture 8/2/2019 1,000,000.00 1,014,400.00 1,096,166.30 2/23/2024 1.90%62,625.83$ 36,611.80$ 14,371.97$ 694FFCB3133EMBE1Gov. Agency Debenture 10/8/2020 1,600,000.00 1,598,000.00 1,563,154.94 3/28/2024 0.34%7,053.34$ 3,903.24$ 4,035.81$ 728FFCB3133EMCQ3Gov. Agency Debenture 10/16/2020 2,000,000.00 1,998,000.00 1,966,334.48 10/13/2024 0.31%5,553.33$ 4,295.55$ 4,579.69$ 927BankAmerica Corp 06051GHC6 Corporate Bond 10/9/2020 1,300,000.00 1,366,287.00 1,311,553.58 12/20/2023 0.66%46,753.92$ 13,250.31$ 13,752.22$ 629IBM 459200HG9 Corporate Bond 8/8/2019 1,000,000.00 995,010.00 1,003,587.34 8/1/2022 2.05%46,510.42$ 38,718.82$ 15,330.86$ 123IBM 459200JY8 Corporate Bond 3/25/2021 1,000,000.00 1,071,040.00 1,022,776.50 5/15/2024 0.71%19,166.67$ 1,964.86$ 5,550.23$ 776US Treasury 912828R28 US Treasury Note 7/2/2019 500,000.00 497,246.09 502,460.94 4/30/2023 1.77%18,921.54$ 17,663.79$ 6,639.07$ 395
Freddie Mac 3137EAEN5 Gov. Agency Debenture 7/19/2019 2,000,000.00 2,072,358.00 2,038,331.88 6/19/2023 1.79%132,916.67$ 71,285.65$ 27,432.96$ 445FFCB3133EKVF0Gov. Agency Debenture 7/22/2019 1,000,000.00 999,630.00 1,010,005.98 1/17/2023 1.89%46,614.58$ 36,626.98$ 14,154.86$ 292Treasury912828L57US Treasury Note 7/22/2019 1,200,000.00 1,197,988.40 1,206,843.74 9/30/2022 2.09%56,516.39$ 42,014.96$ 16,237.09$ 183
US Treasury 91282CDA6 Gov. Agency Debenture 1/31/2022 1,100,000.00 1,085,222.44 1,080,964.84 9/30/2023 1.07%445.74$ -$ 1,880.89$ 548US Treasury 91282CAW1 Gov. Agency Debenture 7/15/2021 1,200,000.00 1,199,437.50 1,176,703.13 11/15/2023 0.27%1,002.72$ -$ 2,299.56$ 594American Honda 02665WCZ2 Corporate Bond 11/27/2019 1,000,000.00 1,012,410.01 1,008,880.48 6/27/2024 2.12%60,733.34$ 33,895.56$ 15,985.17$ 819JP Morgan Chase 46625HJE1 Gov. Agency Debenture 2/11/2020 900,000.00 934,587.00 910,896.00 9/23/2022 1.74%61,912.50$ 22,179.72$ 12,034.14$ 176Honeywell Int'l.438516BW5 Corporate Bond 11/20/2019 1,000,000.00 1,014,660.00 1,012,762.63 7/15/2024 1.64%50,983.33$ 31,978.44$ 14,901.52$ 837Caterpillar Financial Serv 14913Q2V0 Corporate Bond 2/23/2021 1,000,000.00 1,077,370.00 1,021,369.97 5/17/2024 0.44%20,900.00$ 1,582.27$ 3,413.71$ 778FNMA3135G0V75Gov. Agency Debenture 10/17/2019 1,100,000.00 1,105,833.30 1,103,488.08 7/2/2024 1.63%42,831.25$ 30,694.63$ 13,521.43$ 824US Bancorp 91159HHV5 Corporate Bond 12/24/2019 1,000,000.00 1,049,040.00 1,027,502.37 1/5/2024 2.12%71,343.75$ 32,781.93$ 16,213.44$ 645
FHLB 3133834G3 Gov. Agency Debenture 3/11/2021 1,400,000.00 1,460,522.00 1,414,604.58 6/9/2023 0.19%22,147.22$ 854.65$ 2,109.67$ 435FFCB3133EKQA7Gov. Agency Debenture 10/21/2019 1,000,000.00 1,019,780.00 1,012,164.65 9/10/2024 1.66%49,631.11$ 28,373.17$ 12,579.69$ 894PNC Financial 69349LAM0 Corporate Bond 2/7/2022 1,000,000.00 1,034,736.67 1,023,920.81 1,266.67 6/25/2023 1.49%(1,266.67)$ -$ 1,822.63$ 451
FHLB 313379Q69 Gov. Agency Debenture 7/22/2019 1,000,000.00 1,006,960.00 1,004,595.59 6/10/2022 1.87%50,645.83$ 36,595.58$ 14,142.72$ 71FNMA3135G0V59Gov. Agency Debenture 11/27/2019 1,540,000.00 1,562,924.44 1,543,699.03 4/12/2022 1.61%64,968.75$ 39,792.92$ 18,766.37$ 12JP Morgan Chase 46625HJT8 Corporate Bond 9/23/2019 1,400,000.00 1,485,414.00 1,450,661.02 2/1/2024 2.39%127,788.89$ 61,355.87$ 26,024.01$ 672American Honda 02665WDH1 Corporate Bond 2/14/2020 600,000.00 603,756.00 602,848.69 5/10/2023 1.75%22,295.00$ 14,494.97$ 7,911.60$ 405Treasury912828V23US Treasury Note 11/29/2021 1,000,000.00 1,032,933.04 1,014,609.38 12/31/2023 0.66%1,956.52$ -$ 2,247.80$ 640Treasury91282CBE0_2 Gov. Agency Debenture 10/7/2021 1,000,000.00 994,768.98 975,429.69 1/15/2024 0.36%339.67$ -$ 1,702.24$ 655FHLB3130ALH98Gov. Agency Debenture 2/26/2021 1,000,000.00 997,610.00 979,086.51 2/26/2024 0.33%2,500.00$ 1,119.96$ 2,474.76$ 697Treasury912828M80US Treasury Note 7/22/2019 1,000,000.00 1,006,175.23 1,007,812.50 11/30/2022 1.81%47,158.47$ 35,281.07$ 13,634.71$ 244Treasury912828U57US Treasury Note 7/31/2019 1,000,000.00 1,011,875.00 1,012,109.38 11/30/2023 1.84%49,583.33$ 35,502.32$ 13,896.62$ 609Treasury912828X70US Treasury Note 12/30/2019 1,000,000.00 1,010,589.29 1,010,195.31 4/30/2024 1.75%40,703.30$ 29,364.36$ 14,682.18$ 761Treasury912828XT2US Treasury Note 10/31/2019 1,000,000.00 1,015,667.41 1,010,351.56 5/31/2024 1.64%41,639.34$ 27,624.64$ 12,449.26$ 792
American Honda 02665WCQ2 Corporate Bond 9/14/2021 950,000.00 1,012,871.00 977,180.37 10/10/2023 0.41%2,487.15$ -$ 2,214.95$ 558FFCB3133EJ3Q0Gov. Agency Debenture 8/28/2019 1,500,000.00 1,587,503.75 1,539,235.82 12/21/2023 2.12%99,786.46$ 42,086.02$ 17,160.07$ 630Freddie Mac 3133EKKT2 Gov. Agency Debenture 6/24/2019 1,550,000.00 1,573,188.00 1,570,685.77 2/8/2023 1.82%100,168.75$ 57,521.06$ 21,385.03$ 314
Treasury 91282CBE0 Gov. Agency Debenture 9/15/2021 650,000.00 647,615.46 634,029.30 1/15/2024 0.28%269.37$ -$ 989.88$ 655
Subtotal 45,390,000.00$ 46,245,746.42$ 46,181,059.27$ 2,109.90$ 1,482,867.14$ 829,909.76$ 398,796.36$
BNY MM Money Market 247,510.43 247,510.43 0.00%1LAIFState Investment Pool 6,900,032.98 6,900,032.98 0.37%16,541.07 1
$53,393,289.83 $53,328,602.68 1,482,867.14$ 829,909.76$ 415,337.43$
Matured AssetsUS Treasury 912828Y20 Gov. Agency Debenture 1/31/2020 1,000,000.00 1,016,601.56 7/15/2021 1.47%38,221.16$ 20,977.00$ 609.80$
Wells Fargo 94988J6A0 Corporate Bond 6/24/2020 1,350,000.00 1,370,749.50 9/9/2021 0.80%46,023.53$ 10,139.92$ 1,940.52$ FNMA 3135G0Q89 Gov. Agency Debenture 2/10/2020 1,000,000.00 998,702.00 10/7/2021 1.38%22,802.08$ 20,147.24$ 3,941.85$ FHLB 3130AABG2 US Treasury Note 4/15/2019 1,000,000.00 988,250.00 11/29/2021 2.34%49,166.67$ 51,343.12$ 9,670.58$
Toyota Motor Credit 89236TDP7 Corporate Bond 05/20/19 1,100,000.00 1,102,596.00 1/11/2022 2.50%75,551.67$ 58,418.45$ 14,755.96$ Freddie Mac 3137EADB2 Gov. Agency Debenture 1/17/2020 2,100,000.00 2,132,039.70 1/13/2022 2.12%99,195.84$ 49,063.54$ 18,236.83$ American Express Credit Corp.0258M0EG0 Corporate Bond 4/5/2021 1,000,000.00 1,020,330.00 1/31/2022 0.46%24,600.00$ 553.07$ 1,382.68$ PNC Financial 693476BN2 Corporate Bond 8/15/2019 1,000,000.00 1,029,280.00 2/6/2022 2.12%84,608.33$ 39,793.76$ 12,838.57$
Total Investments "Matured"63,376.78$
Total Interest FY 20_21 Matured and Current 478,714.21$
Maturity Profile Amount0-1 year $16,424,006.481-2 years $25,045,933.34
2-3 years $11,923,350.013-5 years -$ $53,393,289.83
AmortizedInstitution Cost BNY Assets $46,245,746.42
BNY MM 247,510.43LAIF6,900,032.98Totals:$53,393,289.83
Market to Cost Position Report
Page 5
Town of Los Gatos
Summary Investment Information
February 28, 2022
Weighted Average YTM Portfolio Yield: 1.17%Weighted Average Maturity (days)497
This Month Last Month One year ago
Portfolio Balance $71,083,516 $71,031,906 $62,768,611
Benchmarks/ References:
Town's Average Yield 1.17%1.17%1.53%
LAIF Yield for month 0.28%0.23%0.41%
3 mo. Treasury 0.32%0.19%0.04%
6 mo. Treasury 0.66%0.47%0.05%
2 yr. Treasury 1.44%1.18%0.13%
5 yr. Treasury (most recent)1.72%1.61%0.73%
10 Yr. Treasury 1.83%1.78%1.41%
0 -1 year
30%
1 -2 years30%
2 -3 years25%
3 -5 years
15%
Portfolio Maturity Profile
Compliance:The Town's investments are in compliance with the Town's investment policy dated September 21, 2021and also in compliance with the requirements of Section 53601 of the California State Code. Based on the information available,the Town has sufficient funds to meet the cash demands for the next six months.
Page 1
Town of Los Gatos
Portfolio Allocation & Treasurer's Fund Balances
February 28, 2022
Month YTD
Fund Balances - Beginning of Month/Period $71,031,906.28 $67,951,235.09
Receipts 3,372,897.85 53,115,796.21Disbursements(3,321,287.87)(49,450,129.56)
Fund Balances - End of Month/Period $71,083,516.26 $71,616,901.74
Portfolio Allocation:% of Portfolio Max. % 0r $ Allowed Per State Law or Policy
BNY MM $247,510.43 0.46%20% of Town PortfolioUS Treasury Notes $10,046,915.87 18.82%No Max. on US Treasuries
Government Agency Debenture Notes $22,858,340.87 42.81%No Max. on Non-Mortgage Backed
Corporate Medium Term Bonds $13,340,489.68 24.99%30% of Town Portfolio
Local Agency Investment Fund $6,900,032.98 12.92%$75 M per State Law
Subtotal - Investments 53,393,289.83 100.00%
Reconciled Demand Deposit Balances 17,690,226.43
Total Treasurer's Fund $71,083,516.26
BNY MM0.46%US Treasury Notes18.82%
Government Agency Debenture Notes42.81%
Corporate Medium Term Bonds25.0%
Local Agency Investment Fund12.9%
Portfolio Investment Allocation
54000000
56000000
58000000
60000000
62000000
64000000
66000000
68000000
70000000
72000000
Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22
Treasurer's Fund Balances
page 2
Town of Los Gatos
Non-Treasury Restricted Fund BalancesFebruary 28, 2022 FEB 22 FEB 22 FEB 22BeginningDepositsInterest/Ending
Balance Realized Gain/Adj.Earnings Withdrawals Balance
Non-Treasury Funds:
`
Cert. of Participation 2002 Series A Reserve Fund 686,318.37 5.89$ 686,324.26$ Note 1Cert. Of Participation 2010 Ser A Lease Pymt Fund 152,362.76 0.39 152,362.50 0.65$ Note 1
Cert. of Participation 2002 Lease Payment Fund 131,462.50 0.16 131,462.50 0.16$ Note 1
Cert. of Participation 2010 Series Reserve Fund 1,277,126.98 10.85 1,277,137.83 Note 2
Total Restricted Funds:2,247,270.61$ -$ 17.29$ 283,825.00$ 1,963,462.90$
CEPPT IRS Section 115 Trust 0.00 0.00 0.00 0.00 0.00
Grand Total COP's and CEPPT Trust 2,247,270.61$ -$ 17.29$ 283,825.00$ 1,963,462.90$
These accounts are not part of the Treasurer's fund balances reported elsewhere in this report, as they are for separate and distinctentities.
Note 1: The three original funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the
next few years, reserve funds which will guarantee the payment of lease payments, and a third fund for the disbursement of lease payments
and initial delivery costs.
Note 2: The 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010.
Note 3: The CEPPT Section IRS Section 115 Trust was established as an irrevocable trust dedicated to accumulate resources to fund the Town's unfunded liabilities related to pension and other p
Page 3
Town of Los Gatos
Statement of Interest Earned
February 28, 2022
Interest by Month
July 2021 $57,076.80
August 2021 56,600.18
September 2021 54,523.00
October 2021 54,951.68
November 2021 51,445.84
December 2021 55,030.55
January 2022 51,909.39
February 2022 46,264.19
March 2022
April 20202
May 2022
June 2022
$427,801.63
Page 4
Town of Los Gatos Investment Schedule March 2021
Maturity Yield to Interest Interest Interest DaysDepositParOriginalMarketPurchasedDate or Maturity Received Earned Earned toInstitutionCUSIP #Security Date Value Cost Value Interest Call Date or Call to Date Prior Yrs.Current FY MaturityTreasury91282CAP6US Treasury Note 6/30/2021 1,000,000.00 995,390.63 979,843.75 10/15/2023 0.33%365.44$ -$ 2,170.40$ 594Toyota Motor Credit 89236THA6_1 Corporate Bond 04/12/21 500,000.00 510,580.00 498,257.41 8/25/2023 0.45%5,868.75$ 494.69$ 1,521.65$ 543Toyota Motor Credit 89236THA6 Corporate Bond 1/11/2022 1,100,000.00 1,107,315.00 1,594,423.71 8/25/2023 0.94%1,815.00$ -$ 1,358.77$ 543US Treasury 91282CDD0 US Treasury Note 1/13/2022 1,100,000.00 1,090,675.78 1,081,265.63 843.23 10/31/2023 0.85%(843.23)$ -$ 1,173.70$ 610US Treasury 91282CCN9 US Treasury Note 1/13/2022 1,200,000.00 1,188,375.00 1,180,265.63 7/31/2023 0.75%73.37$ -$ 1,137.18$ 518FFCB3133EKMX1Gov. Agency Debenture 8/2/2019 1,000,000.00 1,014,400.00 1,096,166.30 2/23/2024 1.90%62,625.83$ 36,611.80$ 12,745.94$ 725FFCB3133EMBE1Gov. Agency Debenture 10/8/2020 1,600,000.00 1,598,000.00 1,563,154.94 3/28/2024 0.34%4,653.34$ 3,903.24$ 3,579.20$ 759FFCB3133EMCQ3Gov. Agency Debenture 10/16/2020 2,000,000.00 1,998,000.00 1,966,334.48 10/13/2024 0.31%5,553.33$ 4,295.55$ 4,061.55$ 958BankAmerica Corp 06051GHC6 Corporate Bond 10/9/2020 1,300,000.00 1,366,287.00 1,311,553.58 12/20/2023 0.66%46,753.92$ 13,250.31$ 12,196.31$ 660IBM 459200HG9 Corporate Bond 8/8/2019 1,000,000.00 995,010.00 1,003,587.34 8/1/2022 2.05%46,510.42$ 38,718.82$ 13,596.35$ 154IBM 459200JY8 Corporate Bond 3/25/2021 1,000,000.00 1,071,040.00 1,022,776.50 5/15/2024 0.71%19,166.67$ 1,964.86$ 4,922.28$ 807US Treasury 912828R28 US Treasury Note 7/2/2019 500,000.00 497,246.09 502,460.94 4/30/2023 1.77%18,921.54$ 17,663.79$ 5,887.93$ 426
Freddie Mac 3137EAEN5 Gov. Agency Debenture 7/19/2019 2,000,000.00 2,072,358.00 2,038,331.88 6/19/2023 1.79%132,916.67$ 71,285.65$ 24,329.23$ 476FFCB3133EKVF0Gov. Agency Debenture 7/22/2019 1,000,000.00 999,630.00 1,010,005.98 1/17/2023 1.89%46,614.58$ 36,626.98$ 12,553.39$ 323Treasury912828L57US Treasury Note 7/22/2019 1,200,000.00 1,197,988.40 1,206,843.74 9/30/2022 2.09%46,016.39$ 42,014.96$ 14,400.05$ 214
US Treasury 91282CDA6 Gov. Agency Debenture 1/31/2022 1,100,000.00 1,085,222.44 1,080,964.84 929.26 9/30/2023 1.07%(929.26)$ -$ 892.63$ 579US Treasury 91282CAW1 Gov. Agency Debenture 7/15/2021 1,200,000.00 1,199,437.50 1,176,703.13 11/15/2023 0.27%1,002.72$ -$ 2,024.32$ 625American Honda 02665WCZ2 Corporate Bond 11/27/2019 1,000,000.00 1,012,410.01 1,008,880.48 6/27/2024 2.12%60,733.34$ 33,895.56$ 14,176.63$ 850JP Morgan Chase 46625HJE1 Gov. Agency Debenture 2/11/2020 900,000.00 934,587.00 910,896.00 9/23/2022 1.74%47,287.50$ 22,179.72$ 10,672.62$ 207Honeywell Int'l.438516BW5 Corporate Bond 11/20/2019 1,000,000.00 1,014,660.00 1,012,762.63 7/15/2024 1.64%50,983.33$ 31,978.44$ 13,215.58$ 868Caterpillar Financial Serv 14913Q2V0 Corporate Bond 2/23/2021 1,000,000.00 1,077,370.00 1,021,369.97 5/17/2024 0.44%20,900.00$ 1,582.27$ 3,027.48$ 809FNMA3135G0V75Gov. Agency Debenture 10/17/2019 1,100,000.00 1,105,833.30 1,103,488.08 7/2/2024 1.63%42,831.25$ 30,694.63$ 11,991.63$ 855US Bancorp 91159HHV5 Corporate Bond 12/24/2019 1,000,000.00 1,049,040.00 1,027,502.37 1/5/2024 2.12%71,343.75$ 32,781.93$ 14,379.08$ 676
FHLB 3133834G3 Gov. Agency Debenture 3/11/2021 1,400,000.00 1,460,522.00 1,414,604.58 6/9/2023 0.19%22,147.22$ 854.65$ 1,870.99$ 466FFCB3133EKQA7Gov. Agency Debenture 10/21/2019 1,000,000.00 1,019,780.00 1,012,164.65 9/10/2024 1.66%39,231.11$ 28,373.17$ 11,156.44$ 925PNC Financial 69349LAM0 Corporate Bond 2/7/2022 1,000,000.00 1,034,736.67 1,023,920.81 1,266.67 6/25/2023 1.49%(1,266.67)$ -$ 736.06$ 482
FHLB 313379Q69 Gov. Agency Debenture 7/22/2019 1,000,000.00 1,006,960.00 1,004,595.59 6/10/2022 1.87%50,645.83$ 36,595.58$ 12,542.63$ 102FNMA3135G0V59Gov. Agency Debenture 11/27/2019 1,540,000.00 1,562,924.44 1,543,699.03 4/12/2022 1.61%64,968.75$ 39,792.92$ 16,643.17$ 43JP Morgan Chase 46625HJT8 Corporate Bond 9/23/2019 1,400,000.00 1,485,414.00 1,450,661.02 2/1/2024 2.39%127,788.89$ 61,355.87$ 23,079.68$ 703American Honda 02665WDH1 Corporate Bond 2/14/2020 600,000.00 603,756.00 602,848.69 5/10/2023 1.75%22,295.00$ 14,494.97$ 7,016.49$ 436Treasury912828V23US Treasury Note 11/29/2021 1,000,000.00 1,032,933.04 1,014,609.38 12/31/2023 0.66%1,956.52$ -$ 1,676.64$ 671Treasury91282CBE0_2 Gov. Agency Debenture 10/7/2021 1,000,000.00 994,768.98 975,429.69 1/15/2024 0.36%339.67$ -$ 1,400.70$ 686FHLB3130ALH98Gov. Agency Debenture 2/26/2021 1,000,000.00 997,610.00 979,086.51 2/26/2024 0.33%2,500.00$ 1,119.96$ 2,194.77$ 728Treasury912828M80US Treasury Note 7/22/2019 1,000,000.00 1,006,175.23 1,007,812.50 11/30/2022 1.81%47,158.47$ 35,281.07$ 12,092.10$ 275Treasury912828U57US Treasury Note 7/31/2019 1,000,000.00 1,011,875.00 1,012,109.38 11/30/2023 1.84%49,583.33$ 35,502.32$ 12,324.38$ 640Treasury912828X70US Treasury Note 12/30/2019 1,000,000.00 1,010,589.29 1,010,195.31 4/30/2024 1.75%40,703.30$ 29,364.36$ 13,021.06$ 792Treasury912828XT2US Treasury Note 10/31/2019 1,000,000.00 1,015,667.41 1,010,351.56 5/31/2024 1.64%41,639.34$ 27,624.64$ 11,040.77$ 823
American Honda 02665WCQ2 Corporate Bond 9/14/2021 950,000.00 1,012,871.00 977,180.37 10/10/2023 0.41%2,487.15$ -$ 1,868.16$ 589FFCB3133EJ3Q0Gov. Agency Debenture 8/28/2019 1,500,000.00 1,587,503.75 1,539,235.82 12/21/2023 2.12%99,786.46$ 42,086.02$ 15,218.60$ 661Freddie Mac 3133EKKT2 Gov. Agency Debenture 6/24/2019 1,550,000.00 1,573,188.00 1,570,685.77 2/8/2023 1.82%100,168.75$ 57,521.06$ 18,965.56$ 345
Treasury 91282CBE0 Gov. Agency Debenture 9/15/2021 650,000.00 647,615.46 634,029.30 1/15/2024 0.28%269.37$ -$ 834.11$ 686
Subtotal 45,390,000.00$ 46,245,746.42$ 46,181,059.27$ 3,039.16$ 1,443,567.14$ 829,909.76$ 349,696.20$
BNY MM Money Market 247,510.43 247,510.43 0.00%1LAIFState Investment Pool 6,900,032.98 6,900,032.98 0.28%14,728.65 1
53,393,289.83$ 53,328,602.68$ 1,443,567.14$ 829,909.76$ 364,424.85$
Matured AssetsUS Treasury 912828Y20 Gov. Agency Debenture 1/31/2020 1,000,000.00 1,016,601.56 7/15/2021 1.47%38,221.16$ 20,977.00$ 609.80$
Wells Fargo 94988J6A0 Corporate Bond 6/24/2020 1,350,000.00 1,370,749.50 9/9/2021 0.80%32,468.18$ 10,139.92$ 1,940.52$ FNMA 3135G0Q89 Gov. Agency Debenture 2/10/2020 1,000,000.00 998,702.00 10/7/2021 1.38%22,802.08$ 20,147.24$ 3,941.85$ FHLB 3130AABG2 US Treasury Note 4/15/2019 1,000,000.00 988,250.00 11/29/2021 2.34%49,166.67$ 51,343.12$ 9,670.58$
Toyota Motor Credit 89236TDP7 Corporate Bond 05/20/19 1,100,000.00 1,102,596.00 1/11/2022 2.50%75,551.67$ 58,418.45$ 14,755.96$ Freddie Mac 3137EADB2 Gov. Agency Debenture 1/17/2020 2,100,000.00 2,132,039.70 1/13/2022 2.12%99,195.84$ 49,063.54$ 18,236.83$ American Express Credit Corp.0258M0EG0 Corporate Bond 4/5/2021 1,000,000.00 1,020,330.00 1/31/2022 0.46%11,100.00$ 553.07$ 1,382.68$ PNC Financial 693476BN2 Corporate Bond 8/15/2019 1,000,000.00 1,029,280.00 2/6/2022 2.12%68,108.33$ 39,793.76$ 12,838.57$
Total Investments "Matured"63,376.78$
Total Interest FY 20_21 Matured and Current 427,801.63$
Maturity Profile Amount0-1 year $16,424,006.481-2 years $23,033,923.34
2-3 years $13,935,360.013-5 years -$ $53,393,289.83
AmortizedInstitution Cost BNY Assets $46,245,746.42
BNY MM 247,510.43LAIF6,900,032.98Totals:$53,393,289.83
Market to Cost Position Report
Page 5
Town of Los Gatos
Summary Investment Information
January 31, 2022
Weighted Average YTM Portfolio Yield: 1.17%Weighted Average Maturity (days)511
This Month Last Month One year ago
Portfolio Balance $71,031,906 $60,407,357 $64,003,778
Benchmarks/ References:
Town's Average Yield 1.17%1.20%1.62%
LAIF Yield for month 0.23%0.21%0.46%
3 mo. Treasury 0.19%0.06%0.06%
6 mo. Treasury 0.47%0.19%0.07%
2 yr. Treasury 1.18%0.74%0.11%
5 yr. Treasury (most recent)1.61%1.27%0.42%
10 Yr. Treasury 1.78%1.51%1.07%
0 -1 year
30%
1 -2 years30%
2 -3 years25%
3 -5 years
15%
Portfolio Maturity Profile
Compliance:The Town's investments are in compliance with the Town's investment policy dated September 21, 2021and also in compliance with the requirements of Section 53601 of the California State Code. Based on the information available,the Town has sufficient funds to meet the cash demands for the next six months.
Page 1
Town of Los Gatos
Portfolio Allocation & Treasurer's Fund Balances
January 31, 2022
Month YTD
Fund Balances - Beginning of Month/Period $60,407,356.54 $67,951,235.09
Receipts 13,835,794.34 45,495,946.32Disbursements(3,211,244.60)(42,415,275.13)
Fund Balances - End of Month/Period $71,031,906.28 $71,031,906.28
Portfolio Allocation:% of Portfolio Max. % 0r $ Allowed Per State Law or Policy
BNY MM $247,510.43 0.46%20% of Town PortfolioUS Treasury Notes $10,046,915.87 18.82%No Max. on US Treasuries
Government Agency Debenture Notes $22,858,340.87 42.82%No Max. on Non-Mortgage Backed
Corporate Medium Term Bonds $13,335,033.01 24.98%30% of Town Portfolio
Local Agency Investment Fund $6,900,032.98 12.92%$75 M per State Law
Subtotal - Investments 53,387,833.16 100.00%
Reconciled Demand Deposit Balances 17,644,073.12
Total Treasurer's Fund $71,031,906.28
BNY MM0.46%US Treasury Notes18.82%
Government Agency Debenture Notes42.82%
Corporate Medium Term Bonds25.0%
Local Agency Investment Fund12.9%
Portfolio Investment Allocation
54000000
56000000
58000000
60000000
62000000
64000000
66000000
68000000
70000000
72000000
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22
Treasurer's Fund Balances
page 2
Town of Los Gatos
Non-Treasury Restricted Fund BalancesJanuary 31, 2022 JAN 22 JAN 22 JAN 22BeginningDepositsInterest/Ending
Balance Realized Gain/Adj.Earnings Withdrawals Balance
Non-Treasury Funds:
`
Cert. of Participation 2002 Series A Reserve Fund 686,308.57 9.80$ 686,318.37$ Note 1Cert. Of Participation 2010 Ser A Lease Pymt Fund 21,141.66 131,220.84 0.26 152,362.76$ Note 1
Cert. of Participation 2002 Lease Payment Fund 22.41 131,440.09 131,462.50$ Note 1
Cert. of Participation 2010 Series Reserve Fund 1,277,116.13 10.85 1,277,126.98 Note 2
Total Restricted Funds:1,984,588.77$ 262,660.93$ 20.91$ -$ 2,247,270.61$
CEPPT IRS Section 115 Trust 0.00 0.00 0.00 0.00 0.00
Grand Total COP's and CEPPT Trust 1,984,588.77$ 262,660.93$ 20.91$ -$ 2,247,270.61$
These accounts are not part of the Treasurer's fund balances reported elsewhere in this report, as they are for separate and distinctentities.
Note 1: The three original funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the
next few years, reserve funds which will guarantee the payment of lease payments, and a third fund for the disbursement of lease payments
and initial delivery costs.
Note 2: The 2010 COP Funds are all for the Library construction, reserves to guarantee lease payments, and a lease payment fund for the life of the COP issue. The COI fund was closed in September 2010.
Note 3: The CEPPT Section IRS Section 115 Trust was established as an irrevocable trust dedicated to accumulate resources to fund the Town's unfunded liabilities related to pension and other p
Page 3
Town of Los Gatos
Statement of Interest Earned
January 31, 2022
Interest by Month
July 2021 $57,076.80
August 2021 56,600.18
September 2021 54,523.00
October 2021 54,951.68
November 2021 51,445.84
December 2021 55,030.55
January 2022 51,909.39
February 2022
March 2022
April 20202
May 2022
June 2022
$381,537.44
Page 4
Town of Los Gatos Investment Schedule March 2021
Maturity Yield to Interest Interest Interest DaysDepositParOriginalMarketPurchasedDate or Maturity Received Earned Earned toInstitutionCUSIP #Security Date Value Cost Value Interest Call Date or Call to Date Prior Yrs.Current FY MaturityTreasury91282CAP6US Treasury Note 6/30/2021 1,000,000.00 995,390.63 990,117.19 10/15/2023 0.33%365.44$ -$ 1,920.31$ 622Toyota Motor Credit 89236THA6_1 Corporate Bond 04/12/21 500,000.00 510,580.00 504,471.98 8/25/2023 0.45%2,493.75$ 494.69$ 1,346.32$ 571Toyota Motor Credit 89236THA6 Corporate Bond 1/11/2022 1,100,000.00 1,107,315.00 1,100,464.30 5,610.00 8/25/2023 0.94%(5,610.00)$ -$ 566.15$ 571US Treasury 91282CDD0 US Treasury Note 1/13/2022 1,100,000.00 1,090,675.78 2,101,362.80 843.23 10/31/2023 0.85%(843.23)$ -$ 459.27$ 638US Treasury 91282CCN9 US Treasury Note 1/13/2022 1,200,000.00 1,188,375.00 1,001,692.91 7/31/2023 0.75%73.37$ -$ 444.98$ 546FFCB3133EKMX1Gov. Agency Debenture 8/2/2019 1,000,000.00 1,014,400.00 1,035,558.04 2/23/2024 1.90%51,475.83$ 36,611.80$ 11,277.27$ 753FFCB3133EMBE1Gov. Agency Debenture 10/8/2020 1,600,000.00 1,598,000.00 1,582,070.85 3/28/2024 0.34%4,653.34$ 3,903.24$ 3,166.78$ 787FFCB3133EMCQ3Gov. Agency Debenture 10/16/2020 2,000,000.00 1,998,000.00 1,985,575.98 10/13/2024 0.31%5,553.33$ 4,295.55$ 3,593.55$ 986BankAmerica Corp 06051GHC6 Corporate Bond 10/9/2020 1,300,000.00 1,366,287.00 1,326,948.74 12/20/2023 0.66%46,753.92$ 13,250.31$ 10,790.97$ 688IBM 459200HG9 Corporate Bond 8/8/2019 1,000,000.00 995,010.00 1,008,423.55 8/1/2022 2.05%37,135.42$ 38,718.82$ 12,029.69$ 182IBM 459200JY8 Corporate Bond 3/25/2021 1,000,000.00 1,071,040.00 1,044,797.43 5/15/2024 0.71%19,166.67$ 1,964.86$ 4,355.10$ 835US Treasury 912828R28 US Treasury Note 7/2/2019 500,000.00 497,246.09 507,226.56 4/30/2023 1.77%18,921.54$ 17,663.79$ 5,209.49$ 454
Freddie Mac 3137EAEN5 Gov. Agency Debenture 7/19/2019 2,000,000.00 2,072,358.00 2,062,924.68 6/19/2023 1.79%132,916.67$ 71,285.65$ 21,525.86$ 504FFCB3133EKVF0Gov. Agency Debenture 7/22/2019 1,000,000.00 999,630.00 1,017,435.02 1/17/2023 1.89%46,614.58$ 36,626.98$ 11,106.91$ 351Treasury912828L57US Treasury Note 7/22/2019 1,200,000.00 1,197,988.40 1,212,796.87 9/30/2022 2.09%46,016.39$ 42,014.96$ 12,740.78$ 242
US Treasury 91282CDA6 Gov. Agency Debenture 1/31/2022 1,100,000.00 1,085,222.44 0.00 929.26 9/30/2023 1.07%(929.26)$ -$ -$ 607US Treasury 91282CAW1 Gov. Agency Debenture 7/15/2021 1,200,000.00 1,199,437.50 1,190,250.00 11/15/2023 0.27%1,002.72$ -$ 1,775.72$ 653American Honda 02665WCZ2 Corporate Bond 11/27/2019 1,000,000.00 1,012,410.01 1,030,214.47 6/27/2024 2.12%48,733.34$ 33,895.56$ 12,543.11$ 878JP Morgan Chase 46625HJE1 Gov. Agency Debenture 2/11/2020 900,000.00 934,587.00 918,051.60 9/23/2022 1.74%47,287.50$ 22,179.72$ 9,442.85$ 235Honeywell Int'l.438516BW5 Corporate Bond 11/20/2019 1,000,000.00 1,014,660.00 1,033,527.98 7/15/2024 1.64%39,483.33$ 31,978.44$ 11,692.80$ 896Caterpillar Financial Serv 14913Q2V0 Corporate Bond 2/23/2021 1,000,000.00 1,077,370.00 1,044,144.53 5/17/2024 0.44%20,900.00$ 1,582.27$ 2,678.64$ 837FNMA3135G0V75Gov. Agency Debenture 10/17/2019 1,100,000.00 1,105,833.30 1,124,320.26 7/2/2024 1.63%42,831.25$ 30,694.63$ 10,609.88$ 883US Bancorp 91159HHV5 Corporate Bond 12/24/2019 1,000,000.00 1,049,040.00 1,048,424.92 1/5/2024 2.12%54,468.75$ 32,781.93$ 12,722.23$ 704
FHLB 3133834G3 Gov. Agency Debenture 3/11/2021 1,400,000.00 1,460,522.00 1,430,600.99 6/9/2023 0.19%22,147.22$ 854.65$ 1,655.40$ 494FFCB3133EKQA7Gov. Agency Debenture 10/21/2019 1,000,000.00 1,019,780.00 1,035,709.38 9/10/2024 1.66%39,231.11$ 28,373.17$ 9,870.92$ 953PNC Financial 693476BN2 Corporate Bond 8/15/2019 1,000,000.00 1,029,280.00 1,002,759.81 2/6/2022 2.12%68,108.33$ 39,793.76$ 12,490.01$ 6
FHLB 313379Q69 Gov. Agency Debenture 7/22/2019 1,000,000.00 1,006,960.00 1,008,262.56 6/10/2022 1.87%50,645.83$ 36,595.58$ 11,097.39$ 130FNMA3135G0V59Gov. Agency Debenture 11/27/2019 1,540,000.00 1,562,924.44 1,548,996.57 4/12/2022 1.61%64,968.75$ 39,792.92$ 14,725.44$ 71JP Morgan Chase 46625HJT8 Corporate Bond 9/23/2019 1,400,000.00 1,485,414.00 1,482,316.18 2/1/2024 2.39%100,663.89$ 61,355.87$ 20,420.30$ 731American Honda 02665WDH1 Corporate Bond 2/14/2020 600,000.00 603,756.00 609,512.21 5/10/2023 1.75%22,295.00$ 14,494.97$ 6,208.00$ 464Treasury912828V23US Treasury Note 11/29/2021 1,000,000.00 1,032,933.04 1,030,117.19 12/31/2023 0.66%1,956.52$ -$ 1,160.75$ 699Treasury91282CBE0_2 Gov. Agency Debenture 10/7/2021 1,000,000.00 994,768.98 987,539.06 1/15/2024 0.36%339.67$ -$ 1,128.34$ 714FHLB3130ALH98Gov. Agency Debenture 2/26/2021 1,000,000.00 997,610.00 991,706.43 2/26/2024 0.33%1,250.00$ 1,119.96$ 1,941.87$ 756Treasury912828M80US Treasury Note 7/22/2019 1,000,000.00 1,006,175.23 1,014,492.19 11/30/2022 1.81%47,158.47$ 35,281.07$ 10,698.77$ 303Treasury912828U57US Treasury Note 7/31/2019 1,000,000.00 1,011,875.00 1,026,953.12 11/30/2023 1.84%49,583.33$ 35,502.32$ 10,904.28$ 668Treasury912828X70US Treasury Note 12/30/2019 1,000,000.00 1,010,589.29 1,027,304.69 4/30/2024 1.75%40,703.30$ 29,364.36$ 11,520.69$ 820Treasury912828XT2US Treasury Note 10/31/2019 1,000,000.00 1,015,667.41 1,027,656.25 5/31/2024 1.64%41,639.34$ 27,624.64$ 9,768.58$ 851
American Honda 02665WCQ2 Corporate Bond 9/14/2021 950,000.00 1,012,871.00 996,012.81 10/10/2023 0.41%2,487.15$ -$ 1,554.94$ 617FFCB3133EJ3Q0Gov. Agency Debenture 8/28/2019 1,500,000.00 1,587,503.75 1,569,611.10 12/21/2023 2.12%99,786.46$ 42,086.02$ 13,465.02$ 689Freddie Mac 3133EKKT2 Gov. Agency Debenture 6/24/2019 1,550,000.00 1,573,188.00 1,584,563.17 2/8/2023 1.82%82,731.25$ 57,521.06$ 16,780.23$ 373
Treasury 91282CBE0 Gov. Agency Debenture 9/15/2021 650,000.00 647,615.46 641,900.39 1/15/2024 0.28%269.37$ -$ 693.42$ 714
Subtotal 45,390,000.00$ 46,240,289.75$ 45,886,814.76$ 7,382.49$ 1,395,429.64$ 869,703.51$ 318,083.04$
BNY MM Money Market 247,510.43 247,510.43 0.00%1LAIFState Investment Pool 6,900,032.98 6,900,032.98 0.23%12,916.19 1
$53,387,833.16 $53,034,358.17 1,395,429.64$ 869,703.51$ 330,999.23$
Matured AssetsUS Treasury 912828Y20 Gov. Agency Debenture 1/31/2020 1,000,000.00 1,016,601.56 7/15/2021 1.47%38,221.16$ 20,977.00$ 609.80$
Wells Fargo 94988J6A0 Corporate Bond 6/24/2020 1,350,000.00 1,370,749.50 9/9/2021 0.80%32,468.18$ 10,139.92$ 1,940.52$ FNMA 3135G0Q89 Gov. Agency Debenture 2/10/2020 1,000,000.00 998,702.00 10/7/2021 1.38%22,802.08$ 20,147.24$ 3,941.85$ FHLB 3130AABG2 US Treasury Note 4/15/2019 1,000,000.00 988,250.00 11/29/2021 2.34%49,166.67$ 51,343.12$ 9,670.58$
Toyota Motor Credit 89236TDP7 Corporate Bond 05/20/19 1,100,000.00 1,102,596.00 1/11/2022 2.50%75,551.67$ 58,418.45$ 14,755.96$ Freddie Mac 3137EADB2 Gov. Agency Debenture 1/17/2020 2,100,000.00 2,132,039.70 1/13/2022 2.12%99,195.84$ 49,063.54$ 18,236.83$ American Express Credit Corp.0258M0EG0 Corporate Bond 4/5/2021 1,000,000.00 1,020,330.00 1/31/2022 0.46%11,100.00$ 553.07$ 1,382.68$ 0
Total Investments "Matured"50,538.21$
Total Interest FY 20_21 Matured and Current 381,537.44$
Maturity Profile Amount0-1 year $15,880,098.481-2 years $22,086,960.67
2-3 years $15,420,774.013-5 years -$ $53,387,833.16
AmortizedInstitution Cost BNY Assets $46,240,289.75
BNY MM 247,510.43LAIF6,900,032.98Totals:$53,387,833.16
Market to Cost Position Report
Page 5
Security Description Maturity Date Par/Shares Moody Rating S&P Rating Insight ESG Rating Environment Social Governance
IBM CORP 1.875% 01AUG2022 8/1/2022 1,000,000$ A3 A-3 1 3 4
JPMORGAN CHASE & CO 3.25% 23SEP2022 9/23/2022 900,000$ A2 A-3 1 3 4
AMERICAN HONDA FINANCE 1.95% 10MAY2023 5/10/2023 600,000$ A3 A-3 1 4 3
PNC BANK NA 3.8% 25JUL2023 (CALLABLE 25JUN23)7/25/2023 1,000,000$ A2 A 2 2 3 2
TOYOTA MOTOR CREDIT CORP 1.35% 25AUG2023 8/25/2023 1,600,000$ A1 A+3 3 3 5
AMERICAN HONDA FINANCE 3.625% 10OCT2023 10/10/2023 950,000$ A3 A-3 1 4 3
BANK OF AMERICA CORP 3.004% 20DEC2023 (CALLABLE 20DEC22)12/20/2023 1,300,000$ A2 A-3 1 4 4
JPMORGAN CHASE & CO 3.875% 01FEB2024 2/1/2024 1,400,000$ A2 A-3 1 3 4
US BANCORP 3.375% 05FEB2024 (CALLABLE 05JAN24)2/5/2024 1,000,000$ A2 A+4 2 5 4
IBM CORP 3.0% 15MAY2024 5/15/2024 1,000,000$ A3 A-3 1 3 4
CATERPILLAR FIN SERVICES 2.85% 17MAY24 5/17/2024 1,000,000$ A2 A 3 3 3 4
AMERICAN HONDA FINANCE 2.4% 27JUN2024 6/27/2024 1,000,000$ A3 A-3 1 4 3
HONEYWELL INTERNATIONAL 2.3% 15AUG2024 (CALLABLE 15JUL24)8/15/2024 1,000,000$ A2 A 4 4 5 4
Total/Average 13,750,000$ 3.0 1.5 3.5 3.7
*ESG ratings are from 1 to 5, with 1 as the highest rating and 5 as the lowest. All ratings are weighted by industry rankings, based on the importance of the category within the individual industry.
Town of Los Gatos
Insight ESG Ratings as of March 31, 2022