HomeMy WebLinkAbout01/20/2026 07.C. 2025 4th Quarter Treasury Report •
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 7.C.
For Meeting of: January 20, 2026
ITEM TITLE: 2025 4th Quarter Treasury Report
SUBMITTED BY: Craig Warner, Director of Finance and Budget*
Kimberly Domine, Financial Services Manager
SUMMARY EXPLANATION:
The Treasury Report for the fourth quarter of 2025 is attached and consists of the following:
• 4th Quarter Treasurer's Report
• Cash and Investments
• Long Term Debt
• Interfund Borrowing
ITEM BUDGETED: N/A
STRATEGIC PRIORITY 24-25: A Resilient Yakima
RECOMMENDATION: Review only. Submitted for routine transparency and accountability purposes.
ATTACHMENTS:
2025 Q4 Treasury Report.pdf
12
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FINANCE
Date: January 6, 2026
'.WPTA
CERTIFICATE Of cELLENCE
To: Mayor and City Council C.ITYQE YAKIMA
1024
Thru: Victoria Baker, City Manager "' _
From: Craig Warner, Director of Finance and Budget
Kimberly Domine, Financial Services Manager
Re: 2025-4th Quarter Treasury Report
This report is to transparently report on the City's cash position and investment activity for the
quarter just ended. Each investment is in compliance with the City's Investment Policy, State
Statues and City Municipal Code. The City's investment policy was reviewed and approved by
City Council on March 5, 2019, and adopted by ordinance on February 1, 2022; and the policy
received a Certification of Excellence from the Washington Public Treasurer's Association in
February 2019 and again in April 2024.
Total Cash and Investments at Quarter-end total $167.9 million: $22.6 million in depository
banks, $70.0 million in the State Pool, and $75.3 million invested.
The following chart shows the 5-year trend of total cash and investments month by month
(showing only permanent accounts comparable year over year).
City of Yakima
5-Year Primary Account Liquidity Histor
5175,000,000
::::
;000,000,000,000 I r z -
5100,000,000 -
575,000,000
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525,000,00C
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c U a :47 o r LrE a ' d r ig N a Z g A L a ' . y r U a ' < 3
■Portfolio(par) CI Primary Acct ■Key Checkiig ❑USBCheckirg
13
FINANCE
The City's Investment Portfolio
The City's investment activities are governed by State regulations and the City of Yakima's
Investment Policy. All investments are in full compliance with the City's Investment Policy, State
Statues and City Municipal Code.
Calls or Maturities. During last quarter, the following matured or were called at full value:
• 1580 $2,000,000 US Treasury matured 10/31/2025, yield 3.27%
• 1579 $2,000,000 FFCB matured 11/25/2025, yield 2.92%
• 1581 $2,000,000 US Treasury matured 12/31/2025, yield 3.49%
Purchases: During the last quarter, the following were purchased:
• 1628 $2,000,000 US Treasury to mature 11/30/2028, yield 3.46%
• 1629 $1,000,000 Corebridge to mature 8/21/2028, yield 4.05%
• 1630 $1,000,000 NY Life to mature 1/29/29, yield 3.92%
• 1631 $2,000,000 US Treasury to mature 3/31/29, yield 3.46%
Portfolio and Benchmark Yield and Maturity:
Avg. weighted yield of City investments, excluding LGIP: 3.49%
LGIP State Pool 30-day yield: 3.86%
Weighted average maturity of City investments, excluding LGIP: 306 days
Weighted average maturity of LGIP State Pool 30-day yield: 46 days
Execution of each investment transaction contemplated ongoing cash flows from city operations,
debt obligations, liquid and maturing securities, and contingencies to meet the City's future cash
flow requirements.
The City's Investment Portfolio consists of three general tiers which coincide with the primary
considerations of prudent investing:
1) The Safety portion of the Portfolio consists of funds invested in the Local Government
Investment Pool (LGIP, or State Pool) managed by the State Treasurer, available on the
same day. This allows for seasonal fluctuations, primarily the April/October inflows of
Property Tax and the outflows of debt service and capital projects.
2) The Liquidity portion of the Portfolio consists of demand deposit (checking) accounts at
banks which are qualified public depositaries, protected above FDIC-insured balances
through the actions of the Washington State Public Deposit Protection Commission
(PDPC).
3) The Yield portion of the Portfolio consists of a diversified portfolio of Agencies, Treasuries
and/or other authorized investments with staggered maturities of up to five years. Based
on analysis of historical cash reserves and budgetary planning, this segment will not be
subject to seasonal spending and continues to be safely invested long-term.
2
14
FINANCE
Current Rates. As of December 31, 2025, the fixed income market continues to drop with the 1-
year treasury earning 20 bases points less than last quarter yielding 3.48% and 3.68%
respectively. The 30-day yield of the State Pool dropped from last quarter from 4.29% to 3.86%
with the Weighted Average to maturity increasing from 39 to 46 days.
Economic Outlook. The federal funds rate is the interest rate on overnight loans set by the
Federal Open Market Committee (FOMC) at the Federal Reserve. Rates offered by local
government investment pools and money market funds tend to correlate closely with the federal
funds rate. At the FOMC December meeting they elected to cut the federal funds rate by .25%.
This is the third .25% rate cut this year and is based on concerns over signs of weakness in the
labor market.
Strategy Notes. The City of Yakima's investments are not typically actively traded, meaning that
no attempt to "buy low and sell high" or "time the market" is made. Investments purchased with
the intent of providing investment income are intended to be held to maturity, relying on following
a prudent course of action for income rather than predicting market direction.
Actual % Policy %
LG I P 70;018,011 48% 100%
Treasuries 32,000;000 22% 100%
Agencies 33,000,000 23% 100%
Municipals 275,000 0% 15%
Corporates 10,000,000 7'°0 15%
145,293,011 100%
Debt Activity
All debt payments were paid out as scheduled. A comprehensive city-wide debt report is attached
with current balances.
Interfund Borrowincis and Investments
Borrowing between funds is temporary in nature, reviewed periodically by staff and Council,
amended as circumstances change. Currently there are three Interfund Loans.
The first loan is to help with the Mill Site Project. It was determined that the Mill Site needed more
than the original amount loaned so an increase was given with the payment schedule extended
to three years and aligned with the LIFT revenues that are received annually. This loan has been
retired and a new smaller loan has taken its place. It's essential to keep some debt on the books
to ensure LIFT Match eligibility.
The second loan is to help cash flow the Nelson Dam Project. This interfund loan is for three years
with monthly payments that started January 2023 and is due to be paid in full September 2025. It
was determined that the Nelson Project needed more than the original amount loaned so an
increase was given with payment schedule extended out an additional two years.
There was a third emergency cash loan dated May 30th to the MLK Pool to help with cash flow
due to the timing of donation receipts.
3
15
City of Yakima
Cash and Investment Summary
December 31, 2025
Current Prior Quarter Prior Year
Description 12/31/2025 9/30/2025 12/31/2024
Cash Balances on Hand in Banks 22,609,411.57 $ 22,377,912 $ 21,773,880
Local Government Investment Pool (LGIP) 70,018,011 58,397,658 52,711,559
Investment Portfolio 75,275,000 75,275,000 77,010,000
Total Investments 145,293,011 133,672,658 129,721,559
Total Cash and Investments $ 167,902,423 $ 156,050,570 $ 151,495,439
x
Beg Balance Purchases Interest Maturities, Calls End Balance
Summary of Investment Activity 9/30/2025 & Deposits Reinvested & Withdrawals 12/31/2025
Local Government Investment Pool (LGIP) $ 58,397,658 $ 15,000,000 $ 620,353 $ (4,000,000) $ 70,018,011
Investment Portfolio 75,275,000 6,000,000 - (6,000,000) 75,275,000
Total Investments $ 133,672,658 $ 21,000,000 $ 620,353 $ (10,000,000) $ 145,293,011
Page 1 of 8 2025 Q4 TSO spreadsheet
16
City of Yakima
Distribution of Cash and Investments as of 12/31/2025
Depository Banks,
$22,609,412 , 13%
Investment
Portfolio, lir
75,275,000 , 45%
Local Government
Investment Pool,
$70,018,011 , 42%
Page 2 of 8
17
City of Yakima
Investment Portfolio-Inventory by Agency
December 31, 2025
Expected Days to Call Most
Agency Inv# CUSIP Face Value Price Coupon Yield Settle Maturity Maturity Market Type Moodys S&P Fitch Next Call Likely Call
UST 1582 9128286A3 2,000,000 1,891,374 2.625 4.450 11/9/22 1/31/26 31 1,998,161 NC Aaa NA AAAu NC 1/31/26
US T 1584 912828P46 2,000,000 1,877,584 1.625 3.750 1/18/23 2/15/26 46 1,994,336 NC Aaa NA AAAu NC 2/15/26
FHLB 1587 3130AUU36 2,000,000 1,984,286 4.125 4.400 2/22/2023 3/13/26 72 2,001,943 NC Aaa AA+ NA NC 3/13/26
FNMA 1583 3135GOK36 2,000,000 1,880,612 2.125 4.040 12/13/22 4/24/26 114 1,990,617 NC Aaa AA+ AAA NC 4/24/26
UST 1588 91282CCF6 2,000,000 1,822,350 0.750 3.800 4/19/23 5/31/26 151 1,976,664 NC Aaa NA AAAu NC 5/31/26
FHLB 1589 3130AVWS7 2,000,000 2,014,500 3.750 3.500 5/5/23 6/12/26 163 2,001,511 NC Aaa AA+ NA NC 6/12/26
FFCB 1590 3133EPPE9 2,000,000 1,975,386 4.375 4.840 8/29/23 7/6/26 187 2,006,929 NC Aaa AA+ AA+ NC 7/6/26
US T 1592 91282CHU8 2,000,000 1,987,798 4.375 4.610 11/9/23 8/15/26 227 2,009,597 NC Aaa NA AAAu NC 8/15/26
FAMCA 1591 31422X6U1 2,000,000 1,987,142 4.625 4.860 9/22/23 9/8/26 251 2,012,790 NC NA NA NA NC 9/8/26
FFCB 1593 3133EJM97 2,000,000 1,917,609 3.350 4.860 11/14/23 10/30/26 303 1,995,397 NC Aaa AA+ AA+ NC 10/30/26
FHLB 1594 3130AXU63 1,000,000 1,008,210 4.625 4.322 12/14/23 11/17/26 321 1,008,433 NC Aaa AA+ NA NC 11/17/26
FAMCA 1595 31424WCQ3 2,000,000 2,024,358 4.500 4.060 12/15/23 12/4/26 338 2,015,987 NC NA NA NA NC 12/4/26
FFCB 1596 3133EPW76 2,000,000 1,995,234 3.875 3.960 1/19/24 1/19/27 384 2,005,852 NC Aaa AA+ AA+ NC 1/19/27
FFCB 1597 3133EP2T1 2,000,000 2,000,000 4.125 4.125 2/12/24 2/12/27 408 2,011,551 NC Aaa AA+ AA+ NC 2/12/27
FFCB 1598 3133EJGF0 2,000,000 1,928,336 3.125 4.420 3/21/24 3/15/27 439 1,990,377 NC Aaa AA+ AA+ NC 3/15/27
FAMCA 1599 31424WHG0 2,000,000 1,996,686 4.800 4.860 4/17/24 4/16/27 471 2,031,123 NC Aaa NA AAAu NC 4/16/27
UST 1600 91282CET4 2,000,000 1,878,000 2.625 4.751 4/17/24 5/31/27 516 1,976,484 NC Aaa NA AAAu NC 5/31/27
FHLB 1603 3130B1EF0 2,000,000 2,007,569 4.625 4.490 5/16/24 6/11/27 527 2,028,129 NC Aaa NA AAAu NC 6/11/27
UST 1606 91282C F B2 2,000,000 1,902,188 2.750 4.450 6/21/24 7/31/27 577 1,977,969 NC Aaa NA AAAu NC 7/31/27
US T 1607 9128282R0 2,000,000 1,885,781 2.250 4.260 7/24/24 8/15/27 592 1,961,484 NC Aaa NA AAAu NC 8/15/27
FHLB 1608 3130ATS40 2,000,000 2,031,865 4.375 3.820 8/13/24 9/10/27 618 2,028,371 NC Aaa AA+ AA+ NC 9/10/27
FNMA 1609 3135G05Y5 2,000,000 1,820,340 0.750 3.800 8/13/24 10/8/27 646 1,906,233 NC Aaa NA AAAu NC 10/8/27
FHLB 1610 3130AMHV7 2,000,000 1,885,600 1.500 3.433 9/25/24 11/18/27 687 1,928,266 NC Aaa NA AAAu NC 11/18/27
UST 1611 91282C B B6 2,000,000 1,829,908 0.625 3.400 9/25/25 12/31/27 730 1,891,172 NC Aaa NA AAAu NC 12/31/27
UST 1612 91282CBJ9 2,000,000 1,808,218 0.750 3.900 10/23/24 1/31/28 761 1,891,328 NC Aaa NA AAAu NC 1/31/28
UST 1613 91282CBP5 2,000,000 1,810,965 1.125 4.240 11/18/24 2/29/28 790 1,902,578 NC Aaa NA AAAu NC 2/29/28
UST 1614 91282CBS9 2,000,000 1,829,448 1.250 4.020 12/4/24 3/31/28 821 1,904,531 NC Aaa NA AAAu NC 3/31/28
FHLB 1615 3130ALYS7 1,000,000 919,138 1.750 4.420 1/13/25 4/26/28 847 961,420 NC Aaa AA+ NA NC 4/26/28
FHLB 1616 3130ALZZ0 1,000,000 926,589 2.000 4.420 1/13/25 4/28/28 849 965,012 NC Aaa AA+ NA NC 4/28/28
UST 1617 91282CHE4 2,000,000 1,951,875 3.625 4.416 2/13/25 5/31/28 882 2,006,641 NC Aaa NA AAAu NC 5/31/28
WMT 1618 931142EE9 2,000,000 1,980,560 3.700 4.020 3/25/25 6/26/28 908 2,004,287 MW Aa2 AA+ AA 3/26/28 6/26/28
J Deere 1619 24422EXB0 2,000,000 2,058,940 4.950 3.960 4/30/25 7/14/28 926 2,055,503 NC Al A A+ NC 7/14/28
CRBG 1629 00138CBG2 1,000,000 1,005,200 4.250 4.048 11/14/25 8/21/28 964 1,003,342 NC Aaa AA+ AA+ NC 8/21/28
US T 1620 91282CHX2 2,000,000 2,025,489 4.375 3.955 5/20/25 8/31/28 974 2,044,063 NC Aaa NA AAAu NC 8/31/28
Toyota 1621 89236TLB9 1,000,000 1,036,580 5.250 4.020 6/27/25 9/11/28 985 1,035,873 NC Al A+ A+ NC 9/11/28
BNWM 1624 06406GAA9 1,000,000 973,334 3.000 3.900 8/27/25 10/30/28 1,034 974,717 MW A2 A- A 7/30/28 10/30/28
UST 1626 91282CDF5 1,000,000 939,100 1.375 3.452 9/18/25 10/31/28 1,035 942,422 NC Aaa NA AAAu NC 10/31/28
UST 1628 91282CDL2 2,000,000 1,885,625 1.500 3.460 10/23/25 11/30/28 1,065 1,888,359 NC Aaa NA AAAu NC 11/30/28
WFC 1622 33738MAB7 1,000,000 1,059,640 6.500 4.570 7/14/25 12/1/28 1,066 1,060,040 NC Aa3 NA A NC 12/1/28
King GO 1623 49474FF96 275,000 254,708 1.690 4.047 7/14/25 12/1/28 1,066 260,477 MW Aaa AAA AAA NC 12/1/28
NYLIFE 1630 64952WFF5 1,000,000 1,023,200 4.700 3.920 11/14/25 1/29/29 1,125 1,018,305 NC Aal AA+ AAA NC 1/29/29
UST 1627 91228CDW8 1,000,000 946,000 1.750 3.463 9/18/25 1/31/29 1,127 948,359 NC Aaa NA AAAu NC 1/31/29
PACCAR 1625 69371RS80 1,000,000 1,022,210 4.600 3.900 8/27/25 1/31/29 1,127 1,019,808 NC Al A+ NA NC 1/31/29
UST 1631 91282CKG5 2,000,000 2,040,880 4.125 3.460 12/17/25 3/31/29 1,186 2,035,547 NC Aaa NA AAAu NC 3/31/29
Subtotal 44 75,275,000 73,030,414 Avg. 74,671,988
LGIP LGIP NA 70,018,011 70,018,011 4.600 4.60% NA NA 14 70,018,011 NC NA NA NA NA NA
Grand Totals $145,293,011 $ 143,048,425 3.83% 312 $ 144,689,999
Page 3 of 8 2025 Q4 TSO spreadsheet
18
City of Yakima
Investment Portfolio by Issuer at 12/31/2025
Agencies, 33,000,000,
23%
Municipals, 275,000, 0%
Corporates, 10,000,000,
7%
Treasuries, 32,000,000,
22%
&LGIP, 70,018,011, 48%
Diversifying by issuer reduces
the credit risk the city is
subject to from any one
issuer as well as diversifies
market price fluctuations
which can vary by issuer.
Page 4 of 8 2025 Q4 TSO spreadsheet
19
Page 5 of 8
City of Yakima
Investment Portfolio Maturity Distribution at 12/31/2025
$5,000,000
Diversifying by maturity
$4,500,000 reduces the re-investment risk
the city is subject to in any
given month when an
$4,000,000 investment matures and the
principal is reinvested at rates
$3,500,000 available at that moment.
$3,000,000
$2,500,000 -
$2,000,000 -
$1,500,000 -
$1,000,000
$500,000 —
$0
CD (0 (0 (0 (0 N N N N N N N N N N N N CO CO CO CO CO CO CO CO CO CO CO CO rn rn O
N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N
C ? C = Q +' > C) C T C - = Q + > C) C ? C - GO Q +' 1 C)
U Cl) f0 N O- f0 7 7 N U Cl) U O N . N
Page 5 of 8 2025 Q4 TSO spreadsheet
20
City of Yakima
Investment Portfolio-Detail of Activity
December 31,2025
Beginning Additions and Calls and Ending
Agency Inv# Face Value Purchases Maturities Face Value
Farmer Mac
FAMCA 1591 2,000,000 2,000,000
FAMCA 1595 2,000,000 2,000,000
FAMCA 1599 2,000,000 2,000,000
FAMCA Total 6,000,000 - - 6,000,000
Federal Farm Credit Bureau
FFCB 1579 2,000,000 (2,000,000) -
FFCB 1590 2,000,000 2,000,000
FFCB 1593 2,000,000 2,000,000
FFCB 1596 2,000,000 2,000,000
FFCB 1597 2,000,000 2,000,000
FFCB 1598 2,000,000 2,000,000
FFCB Total 12,000,000 - (2,000,000) 10,000,000
Federal Home Loan Bank
FHLB 1587 2,000,000 2,000,000
FHLB 1589 2,000,000 2,000,000
FHLB 1594 1,000,000 1,000,000
FHLB 1603 2,000,000 2,000,000
FHLB 1608 2,000,000 2,000,000
FHLB 1610 2,000,000 2,000,000
FHLB 1615 1,000,000 1,000,000
FHLB 1616 1,000,000 1,000,000
FHLB Total 13,000,000 - - 13,000,000
Municiple Bonds
King County Muni 1623 275,000 275,000
Municiple Bonds 275,000 - - 275,000
Federal National Management Association
FNMA 1583 2,000,000 2,000,000
FNMA 1609 2,000,000 2,000,000
FNMA Total 4,000,000 - - 4,000,000
US Treasury
US Treasury 1580 2,000,000 (2,000,000) -
US Treasury 1581 2,000,000 (2,000,000) -
US Treasury 1582 2,000,000 2,000,000
US Treasury 1584 2,000,000 2,000,000
US Treasury 1588 2,000,000 2,000,000
US Treasury 1592 2,000,000 2,000,000
US Treasury 1600 2,000,000 2,000,000
US Treasury 1606 2,000,000 2,000,000
US Treasury 1607 2,000,000 2,000,000
US Treasury 1611 2,000,000 2,000,000
US Treasury 1612 2,000,000 2,000,000
US Treasury 1613 2,000,000 2,000,000
US Treasury 1614 2,000,000 2,000,000
US Treasury 1617 2,000,000 2,000,000
US Treasury 1620 2,000,000 2,000,000
US Treasury 1626 1,000,000 1,000,000
US Treasury 1627 1,000,000 1,000,000
US Treasury 1628 - 2,000,000 2,000,000
US Treasury 1631 2,000,000 2,000,000
US Treasury 32,000,000 4,000,000 (4,000,000) 32,000,000
Corporate Notes
Walmart 1618 2,000,000 2,000,000
J Deere 1619 2,000,000 2,000,000
Toyota 1621 1,000,000 1,000,000
Wells Fargo 1622 1,000,000 1,000,000
Bank NYM 1624 1,000,000 1,000,000
PACCAR 1625 1,000,000 1,000,000
Corebridge 1629 1,000,000 1,000,000
NY Life 1630 1,000,000 1,000,000
Corporate Total 8,000,000 2,000,000 - 10,000,000
Subtotal 75,275,000 6,000,000 (6,000,000) 75,275,000
Other Investments - - - -
LGIP(State Pool) LGIP 58,397,658 15,620,353 (4,000,000) 70,018,011
Other Investment Totals 58,397,658 15,620,353 (4,000,000) 70,018,011
(Grand Totals $ 133,672,658 $ 21,620,353 $ (10,000,000) $ 145,293,011
Page 6 of 8 2025 Q4 TSO spreadsheet
21
City of Yakima
Long Term Debt Schedule-by Project Group
December 31,2025
Date Issued Maturity Description Note Amount of Issue Current Balance
General Obligation Bonds
6/20/2013 12/1/2028 Street Project Demonstration(Refunded) Various City street improvements 3,500,000 1,122,182.770
9/24/2018 6/1/2035 Soccer Complex(Refunded) City portion of SOZO Sports Complex 4,440,127 2,975,396.260
9/24/2018 12/1/1942 2018 Aquatic Center YMCA City portion of Aquatic Center 8,009,873 7,600,177.450
4/21/2020 12/1/2032 2020B Capital Theatre 09 Refunded 2020B Capital Theatre 09 Refunded 4,910,000 2,850,000.000
4/21/2020 12/1/2044 2020B Convention Center Addition 2020B Convention Center Addition 12,620,000 10,530,000.000
4/21/2020 12/1/2044 2020B Convention Center Addition III Refu 2020B Convention Center Addition III Refunded 2,495,000 2,080,000.000
Subtotal General Obligation Bonds 35,975,000 27,157,756.480
Certificate of Participation-State of Washington
9/28/2017 6/1/2027 Energy Project 2017 Energy Project(lighting) 921,683 220,382.060
7/21/2020 6/1/2035 Energy Project 2020 Energy Efficiency Project(lighting) 1,415,000 1,055,000.000
9/28/2017 6/1/2027 Fire Aerial&Pump App Fire Aerial 1,268,053 303,201.820
Subtotal Certificates of Participation 3,604,736 1,578,583.880
Revenue Bonds
4/21/2020 12/1/2034 2020 Ref 04 Irrigation 2020 Ref 04 Irrigation 3,260,000 2,125,000.000
4/21/2020 12/1/2027 2020 Ref 08 WS Rev 2020 Ref 08 WS Rev 2,590,000 730,000.000
Subtotal Revenue Bonds 5,850,000 2,855,000.000
Intergovernmental Loans
8/14/2009 7/1/2028 PC-08-951-052 2009 Railroad Grade Separation 3,000,000 495,300.760
5/6/2010 6/1/2034 L1000030-0 2010 Railroad Grade Separation 1,229,295 631,673.830
6/17/2014 5/1/2034 Comm Center Move City portion of County GO Bonds 1,716,500 920,000.000
6/1/2016 6/1/2027 '16 Yak Co SIED-SOZO 2016 Yakima Co SIED Loan-SOZO 900,000 204,314.520
7/17/2018 6/1/2029 '18 Yak Co SIED-River Rd. 2018 Yakima Co SIED-River Rd Improvements/Aquatics Center 500,000 229,307.030
3/2/2021 6/1/2032 21 Yak Co Seid-SOZO 2021 Yakima Co SEID Loan SOZO 1,000,000 746,414.850
3/14/2023 6/1/2035 22 Yak Co Seid-Russell Lane 2023 Yak Co Seid-Russell Lane 416,000 416,000.000
12/15/2023 6/1/2036 23 Yak Co Seid-Chief Hops 2023 Yak Co Seid-Chief Hops 312,500 312,500.000
6/27/2005 10/1/2025 SRF-04-65104-037 2005 Naches River WTP Filter Rehab 894,380 -
12/30/2005 6/1/2025 PW-05-691-064 2005 River Road Sewer 2,307,000 -
4/30/2007 6/1/2027 PW-07-962-019 2007 Ultra Violet Disinfection 2,300,000 242,777.770
4/15/2009 6/1/2028 PC-08-951-051 2009 New Water Well 2,257,200 363,446.480
10/10/2011 3/31/2033 L1100008 2011 Energy Efficiency 516,192 233,975.050
8/1/2011 7/1/2034 L1200019 2012 Industrial Waste Anaerobic 587,173 314,226.490
6/1/2012 6/1/2031 PC-12-951-065 2012 Wastewater Treatment Plan 5,000,000 1,614,474.840
10/11/2012 6/1/2037 PC-13-961-059 2012 Industrial Sewer Extensions 2,000,000 976,076.580
8/5/2013 6/1/2032 PC-13-961-074 2013 Automated Reading System 5,000,000 1,842,105.260
12/31/2021 6/1/2039 PC20-96103-044 2020 Waterline Improvements 1,737,906 1,351,704.940
12/12/2013 10/1/2034 DM-11-952-038 2013 Design WTP Lagoons 3,514,800 1,581,660.020
Subtotal Intergovernmental Loans 35,188,947 12,475,958.420
Grand Total 80,618,683 44,067,298.780
Page 7 of 8 2025 Q4 TSO spreadsheet
22
City of Yakima
Interfund Borrowing
December 31,2025
Original Beginning Ending
Description Balance Balance Issued Retired Balance
323-Millsite #3 176,000.00 176,000.00 28,870.17 147,129.83
479-Nelson Dam 6,299,691.00 1,916,666.58 249,999.98 1,666,666.60
331-MLK Pool 250,000.00 250,000.00 - 250,000.00
Total across all funds 6,725,691.00 2,342,666.58 - 278,870.15 2,063,796.43
Per Ordinance#2013-011 Tempory Interfund Loans to help with cash flow.
Page 8 of 8 2025 Q4 TSO spreadsheet
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`' FINANCE
Committee Review of Investment Rationale
Date: October 22, 2025
Investment # 2025-1628 is a 7-year US Treasury, face value $2,000,000, maturing
November 30, 2028, 1.50% coupon, purchased at a deep discount of 94.09 to yield
3.458657. This trade settles on October 23, 2025, with Hilltop Securities, Inc., US Bank
Safekeeping, reducing our elevated LGIP position caused by called maturities during 2025.
Liquidity: On September 30th, month-end, Key Bank checking account balance was $10.1
million, US Bank checking balance was $10.4. million, and the investment portfolio was
$75.3 million (Treasuries, Corporates and Agencies). Current LGIP balance was $58.4
million.
Safety: This purchase is a debt issue of the Federal Government, equivalent to Aaa/AA+
rating by Moody's and S&P.
Yield. Yield is 3.4586. This investment is 72 basis points under LGIP and 11 bases point
under the 5-year treasury, and 1 bases points under the 3-year treasury, seeking to protect
yield in an uncertain environment. Comparable yields are:
LGIP current 30-day yield 4.1705% j www.secureaccess.wa.gov
5-year Treasury 3.5600% _ Treasury.gov
3-year Treasury 3.4600% Treasury.gov
Callability. This investment is not callable (a bullet).
Diversification. This purchase brings this issuer to 25% of total portfolio.
Outlook. According to Chief Economist Joe Brusuelas, the American economy continues to
show resilience: Growth is near its potential, unemployment is still low at 4.3%, inflation is rising
but under control, and financial conditions remain conducive for investment.
Investment Committee review:
Finance Director: /I Gs/ - - Date ,/ "f '
City Manager. Date 13 1 j S
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FINANCE
Committee Review of Investment Rationale
Date: November 13, 2025
Investment # 2025-1629 is a 3-year Corebridge Globel Funding Corporation Bond,
face value$1,000,000, maturing August 21, 2028, 4.25% coupon, purchased at 100.52
to yield 4.047587. This trade settles on November 14, 2025, with KeyBanc Capital
Markets, Inc., US Bank Safekeeping, reducing our elevated LGIP position caused by called
maturities during 2025.
Liquidity: On October 31st, month-end, Key Bank checking account balance was $12.9
million, US Bank checking balance was $11.1. million, and the investment portfolio was
$75.3 million (Treasuries, Corporates and Agencies). Current LGIP balance was $54.6
million.
Safety: This purchase is a debt issue of Corebridge Globel Funding Corporation, equivalent
to A2 /A+ rating by Moody's and S&P.
Yield. Yield is 4.0475. This investment is 6 basis points under LGIP and 37 bases point
over the 5-year treasury, and 50 bases points over the 3-year treasury, seeking to protect
yield in an uncertain environment. Comparable yields are:
LGIP current 30-day yield 4.1054% www.secureaccess.wa.gov
5-year Treasury _ 3.6800% Treasury.gov
3-year Treasury _ 3.5500% Treasury.gov
Callability. This investment is not callable (a bullet).
Diversification. This purchase brings Corporate notes to 6% of total portfolio.
Outlook. At its October rate-setting gathering, the Federal Open Market Committee (FOMC)
lowered its benchmark rate by a quarter of a percentage point to a new target range of 3.75%-
4%. That's the lowest level since 2022 and marks the fifth total cut since post-pandemic inflation
forced the U.S. central bank to hike interest rates to a two-decade high. Future rate cuts,
however, aren't guaranteed.
Investment Committee review:
'
Finance Director: 7 `J7 w Date f/; ) 2dc
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25
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FINANCE
Committee Review of Investment Rationale
Date: November 13, 2025
Investment # 2025-1630 is a 5-year New York Life Globel FDG. Corporation Bond,
face value $1,000,000, maturing January 29, 2029, 4.7% coupon, purchased at 102.32
to yield 3.921525. This trade settles on November 14, 2025, with KeyBanc Capital
Markets, Inc., US Bank Safekeeping, reducing our elevated LGIP position caused by called
maturities during 2025.
Liquidity: On October 31st, month-end, Key Bank checking account balance was $12.9
million, US Bank checking balance was $11.1. million, and the investment portfolio was
$75.3 million (Treasuries, Corporates and Agencies). Current LGIP balance was $54.6
million.
Safety: This purchase is a debt issue of New York Life Globel FDG. Corporation, equivalent
to Aa1 /AA+ rating by Moody's and S&P.
Yield. Yield is 3.9215. This investment is 18 basis points under LGIP and 24 bases point
over the 5-year treasury, and 37 bases points over the 3-year treasury, seeking to protect
yield in an uncertain environment. Comparable yields are:
LGIP current 30-day yield , 4.1054% www.secureaccess.wa.gov
5-year Treasury 3.6800% Treasury.gov
3-year Treasury I 3.5500% j Treasury.gov
Callability. This investment is not callable (a bullet).
Diversification. This purchase brings Corporate notes to 6% of total portfolio.
Outlook. At its October rate-setting gathering, the Federal Open Market Committee (FOMC)
lowered its benchmark rate by a quarter of a percentage point to a new target range of 3.75%-
4%. That's the lowest level since 2022 and marks the fifth total cut since post-pandemic inflation
forced the U.S. central bank to hike interest rates to a two-decade high. Future rate cuts,
however, aren't guaranteed.
Investment Committee review:
J
Finance Director: ff Date /di 3/z3—
Cit Manager: Date (/�77
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26
114
FINANCE _
Committee Review of Investment Rationale
Date: December 16, 2025
Investment # 2025-1631 is a 5-year US Treasury, face value $2,000,000, maturing
March 31, 2029, 4.17% coupon, purchased at a premium of 102.044 to yield 3.4601.
This trade settles on December 17, 2025, with Time Value Investments, Inc., US Bank
Safekeeping, reducing our elevated LGIP position caused by called maturities during 2025.
Liquidity: On November 30th, month-end, Key Bank checking account balance was $13.7
million, US Bank checking balance was $12.7 million, and the investment portfolio was
$75.3 million (Treasuries, Corporates and Agencies). Current LGIP balance was $64.8
million.
Safety: This purchase is a debt issue of the Federal Government, equivalent to Aa1/AA+
rating by Moody's and Fitch.
Yield. Yield is 3.46. This investment is 50 basis points under LGIP and 27 bases point
under the 5-year treasury, and 10 bases points under the 3-year treasury, seeking to protect
yield in an uncertain environment. Comparable yields are:
LGIP current 30-day yield 3.9611% www.secureaccess.wa.gov
5-year Treasury 3.73000% Treasury.gov
3-year Treasury _. 3.5600% Treasury.gov
Callability. This investment is not callable.
Diversification. This purchase brings this issuer to 24% of total portfolio.
Outlook. The federal funds rate is the interest rate on overnight loans set by the Federal Open
Market Committee (FOMC) at the Federal Reserve. Rates offered by local government
investment pools and money market funds tend to correlate closely with the federal funds rate.
At the FOMC December meeting they elected to cut the federal funds rate by .25%. This is the
third .25% rate cut this year and is based on concerns over signs of weakness in the labor
market.
Investment Committee review:
Finance Director: /h -----~ Date I �/7/2„
City Mana Date l \AC4l, ra5
27