HomeMy WebLinkAbout07/21/2026 07.B. 2026 Second Quarter Investment Transaction Report 'V
ii
ii
S
_�
ri
(--,,..., ..:,,
, :„
:gin.;,,,,„ „.c=
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 7.B.
For Meeting of: July 21, 2026
ITEM TITLE: 2026 Second Quarter Investment Transaction Report
SUBMITTED BY: Craig Warner, Director of Finance and Budget
Kimberly Domine, Financial Services Manager
SUMMARY EXPLANATION:
The Treasury Report for the second quarter of 2026 is attached for Council review and includes the
Second Quarter Treasury Report, Cash and Investments, Long-Term Debt, and Interfund Borrowing.
ITEM BUDGETED: N/A
STRATEGIC PRIORITY 24-25: A Resilient Yakima
RECOMMENDATION: Submitted for review. No action necessary.
ATTACHMENTS:
2026 Q2 Treasury Report.pdf
10
FINANCE
Date: July 2, 2026
.WPTA
To: Mayor and City Council CERTIFC� �9 CELLENCE
���e.�me��o,�ty
CLT'OF YAKIMA .A,
Thru: Victoria Baker, City Manager
From: Craig Warner, Director of Finance and Budget
Kimberly Domine, Financial Services Manager
Re: 2026—2nd 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 $167.7 million: $25.4 million in depository
banks, $67.1 million in the State Pool, and $75.2 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 History
$175,000,000 —
$150,000,000 �m I ,' 11111 1� -._....I I 1 ,11•i,1 I !III
$125,000,000 ♦i111111111111111111111111111111111111111'IIIIIIIIIIII
$100,000,000
$75,000,000
$50,000,000
$25,000,000
$
0
ci ci ci N N N j
cn ch cn CO Lfl Lfl ul Lfl l0 l0
N N N N N N N N N N N N N N N N N N
Q U Q 2 N o 2 N o 2 o 2
•Portfolio(par) ❑Primary Acct ❑Key Checking USB Checking
11
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:
• 1583 $2,000,000 FNMA matured 4/24/2026, yield 4.04%
• 1588 $2,000,000 US Treasury matured 5/31/2026, yield 3.80%
• 1589 $2,000,000 FHLB matured 6/12/2026, yield 3.50%
Purchases: During the last quarter, the following were purchased:
• 1637 $1,000,000 Home Depot Corp. to mature 6/25/2029, yield 3.96%
• 1638 $1,000,000 IBM Corp. to mature 5/15/2029, yield 4.12%
• 1639 $2,000,000 US Treasury to mature 7/31/29, yield 3.90%
• 1640 $2,000,000 US Treasury to mature 8/31/29, yield 4.00%8
Portfolio and Benchmark Yield and Maturity:
Avg. weighted yield of City investments, excluding LGIP: 3.49%
LGIP State Pool 30-day yield: 3.69%
Weighted average maturity of City investments, excluding LGIP: 314 days
Weighted average maturity of LGIP State Pool 30-day yield: 35 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
12
FINANCE
Current Rates. As of June 30, 2026, the fixed income market continues to fluctuate with the 1-
year treasury earning 3.98%, 30 bases points more than last quarter's rate of 3.68%. The 30-day
yield of the State Pool dropped from last quarter from 3.71% to 3.69%with the Weighted Average
to maturity decreasing from 44 to 35 days.
Economic Outlook. According to Vanguard, the U.S. economy remains resilient, with GDP
projected to grow around 2.0% to 2.2% in 2026. Growth is supported by strong Al-related
investments and government spending. However, elevated inflation and energy costs are
squeezing household purchasing power, resulting in a shift from consumer-led growth to
business investment.
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 %
LGIP 67,085,199 47% 100%
Treasuries 33,000,000 23% 100%
Agencies 28,000,000 20% 100%
Municipals 275,000 0% 15%
Corporates 14,000,000 10% 15%
142,360,199 100%
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, 2025, to the MLK Pool to help with cash
flow due to the timing of donation receipts.
3
13
City of Yakima
Cash and Investment Summary
June 30, 2026
Current Prior Quarter Prior Year
Description 6/30/2026 3/31/2026 6/30/2025
Cash Balances on Hand in Banks 25,351,762.79 $ 26,479,289 $ 28,276,477
Local Government Investment Pool (LGIP) 67,085,199 54,537,359 50,801,568
Investment Portfolio 75,275,000 75,275,000 76,000,000
Total Investments 142,360,199 129,812,359 126,801,568
Total Cash and Investments $ 167,711,962 $ 156,291,648 $ 155,078,045
x
Beg Balance Purchases Interest Maturities, Calls End Balance
Summary of Investment Activity 3/31/2026 & Deposits Reinvested & Withdrawals 6/30/2026
Local Government Investment Pool (LGIP) $ 54,537,359 $ 12,000,000 $ 547,840 $ - $ 67,085,199
Investment Portfolio 75,275,000 6,000,000 - (6,000,000) 75,275,000
Total Investments $ 129,812,359 $ 18,000,000 $ 547,840 $ (6,000,000) $ 142,360,199
Page 1 of 8 2026 Q2 TSO spreadsheet
14
City of Yakima
Distribution of Cash and Investments as of 06/30/2026
Depository Banks,
$25,351,763 15%
4
Investment
Portfolio,
75,275,000 , 45%
Local Government
Investment Pool,
$67,085,199 , 40%
Page 2 of 8
15
City of Yakima
Investment Portfolio by Issuer at 6/30/2026
Agencies, 28,000,000,
20%o Municipals, 275,000, 0%
Corporates, 14,000,000,
10%
Treasuries, 33,000,000,
23%
LGIP, 67,085,199, 47%
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 3 of 8 2026 Q2 TSO spreadsheet
16
City of Yakima
Investment Portfolio-Inventory by Agency
June 30, 2026
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
FFCB 1590 3133EPPE9 2,000,000 1,975,386 4.375 4.840 8/29/23 7/6/26 6 2,000,167 NC Aaa AA+ AA+ NC 7/6/26
UST 1592 91282CHU8 2,000,000 1,987,798 4.375 4.610 11/9/23 8/15/26 46 2,001,105 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 70 2,002,484 NC NA NA NA NC 9/8/26
FFCB 1593 3133EJM97 2,000,000 1,917,609 3.350 4.860 11/14/23 10/30/26 122 1,995,605 NC Aaa AA+ AA+ NC 10/30/26
FHLB 1594 3130AXU63 1,000,000 1,008,210 4.625 4.322 12/14/23 11/17/26 140 1,002,564 NC Aaa AA+ NA NC 11/17/26
FAMCA 1595 31424WCQ3 2,000,000 2,024,358 4.500 4.060 12/15/23 12/4/26 157 2,003,464 NC NA NA NA NC 12/4/26
FFCB 1596 3133EPW76 2,000,000 1,995,234 3.875 3.960 1/19/24 1/19/27 203 1,997,383 NC Aaa AA+ AA+ NC 1/19/27
FFCB 1597 3133EP2T1 2,000,000 2,000,000 4.125 4.125 2/12/24 2/12/27 227 2,000,616 NC Aaa AA+ AA+ NC 2/12/27
FFCB 1598 3133EJGF0 2,000,000 1,928,336 3.125 4.420 3/21/24 3/15/27 258 1,987,301 NC Aaa AA+ AA+ NC 3/15/27
FAMCA 1599 31424WHG0 2,000,000 1,996,686 4.800 4.860 4/17/24 4/16/27 290 2,010,677 NC Aaa NA AAAu NC 4/16/27
UST 1600 91282CET4 2,000,000 1,878,000 2.625 4.751 4/17/24 5/31/27 335 1,974,180 NC Aaa NA AAAu NC 5/31/27
FHLB 1603 3130B1EF0 2,000,000 2,007,569 4.625 4.490 5/16/24 6/11/27 346 2,009,210 NC Aaa NA AAAu NC 6/11/27
UST 1606 91282CFB2 2,000,000 1,902,188 2.750 4.450 6/21/24 7/31/27 396 1,971,484 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 8/15/27 411 1,959,375 NC Aaa NA AAAu NC 8/15/27
FHLB 1608 3130ATS40 2,000,000 2,031,865 4.375 3.820 8/13/24 9/10/27 437 2,006,857 NC Aaa AA+ AA+ NC 9/10/27
FNMA 1609 3135G05Y5 2,000,000 1,820,340 0.750 3.800 8/13/24 10/8/27 465 1,917,638 NC Aaa NA AAAu NC 10/8/27
FHLB 1610 3130AMHV7 2,000,000 1,885,600 1.500 3.433 9/25/24 11/18/27 506 1,931,856 NC Aaa NA AAAu NC 11/18/27
UST 1611 91282CBB6 2,000,000 1,829,908 0.625 3.400 9/25/25 12/31/27 549 1,899,141 NC Aaa NA AAAu NC 12/31/27
UST 1612 91282CBJ9 2,000,000 1,808,218 0.750 3.900 10/23/24 1/31/28 580 1,896,484 NC Aaa NA AAAu NC 1/31/28
UST 1613 91282CBP5 2,000,000 1,810,965 1.125 4.240 11/18/24 2/29/28 609 1,903,438 NC Aaa NA AAAu NC 2/29/28
UST 1614 91282CBS9 2,000,000 1,829,448 1.250 4.020 12/4/24 3/31/28 640 1,903,672 NC Aaa NA AAAu NC 3/31/28
FHLB 1615 3130ALYS7 1,000,000 919,138 1.750 4.420 1/13/25 4/26/28 666 958,997 NC Aaa AA+ NA NC 4/26/28
FHLB 1616 3130ALZZ0 1,000,000 926,589 2.000 4.420 1/13/25 4/28/28 668 963,002 NC Aaa AA+ NA NC 4/28/28
UST 1617 91282CHE4 2,000,000 1,951,875 3.625 4.416 2/13/25 5/31/28 701 1,981,875 NC Aaa NA AAAu NC 5/31/28
WMT 1618 931142EE9 2,000,000 1,980,560 3.700 4.020 3/25/25 6/26/28 727 1,982,918 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 7/14/28 745 2,025,852 NC Al A A+ NC 7/14/28
CRBG 1629 00138CBG2 1,000,000 1,005,200 4.250 4.048 11/14/25 8/21/28 783 990,863 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 8/31/28 793 2,010,234 NC Aaa NA AAAu NC 8/31/28
Toyota 1621 89236TLB9 1,000,000 1,036,580 5.250 4.020 6/27/25 9/11/28 804 1,017,825 NC Al A+ A+ NC 9/11/28
BNWM 1624 06406GAA9 1,000,000 973,334 3.000 3.900 8/27/25 10/30/28 853 965,660 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 10/31/28 854 938,633 NC Aaa NA AAAu NC 10/31/28
UST 1628 91282CDL2 2,000,000 1,885,625 1.500 3.460 10/23/25 11/30/28 884 1,878,984 NC Aaa NA AAAu NC 11/30/28
WFC 1622 33738MAB7 1,000,000 1,059,640 6.500 4.570 7/14/25 12/1/28 885 1,042,210 NC Aa3 NA A NC 12/1/28
King GO 1623 49474FF96 275,000 254,708 1.690 4.047 7/14/25 12/1/28 885 259,371 MW Aaa AAA AAA NC 12/1/28
NYLIFE 1630 64952WFF5 1,000,000 1,023,200 4.700 3.920 11/14/25 1/29/29 944 1,003,199 NC Aal AA+ AAA NC 1/29/29
UST 1627 91228CDW8 1,000,000 946,000 1.750 3.463 9/18/25 1/31/29 946 942,227 NC Aaa NA AAAu NC 1/31/29
PACCAR 1625 69371RS80 1,000,000 1,022,210 4.600 3.900 8/27/25 1/31/29 946 1,007,677 NC Al A+ NA NC 1/31/29
CISCO 1632 17275RBR2 1,000,000 1,031,800 4.850 3.730 1/15/26 2/26/29 972 1,011,833 MW Al AA- NA 1/26/29 2/26/29
FFCB 1633 3133EP4A0 1,000,000 1,021,940 1.250 3.500 1/15/2026 2/28/29 974 1,002,437 NC Aal AA+ AA+ NC 2/28/29
UST 1631 91282CKG5 2,000,000 2,040,880 4.125 3.460 12/17/25 3/31/29 1,005 2,000,156 NC Aaa NA AAAu NC 3/31/29
US T 1634 91282CEM9 2,000,000 1,962,000 2.875 3.504 2/12/26 4/30/29 1,035 1,934,063 NC Aaa NA AAAu NC 4/30/29
IBM Corr 1638 459200KA5 1,000,000 982,280 3.500 4.120 4/21/26 5/15/29 1,050 972,775 MW A3 A- A- MW020 5/15/29
UST 1635 91282CKT7 1,000,000 1,029,890 4.500 3.510 3/10/26 5/31/29 1,066 1,010,352 NC Aaa NA AAAu NC 5/31/29
MasterC 1636 57636QAM6 1,000,000 974,390 2.950 3.800 3/10/26 6/1/29 1,067 963,154 MW Aa3 A+ NA 3/1/29 6/1/29
Home DE 1637 437076DC3 1,000,000 1,022,660 4.750 3.960 4/12/26 6/25/29 1,091 1,011,224 MW A2 A A MWel0 6/25/29
UST 1639 91282CFC0 2,000,000 1,923,500 2.625 3.900 5/13/26 7/31/29 1,127 1,914,219 NC Aal NA AA+u NC 7/31/29
UST 1640 91282CLK5 2,000,000 1,977,540 3.630 4.000 6/16/26 8/31/29 1,158 1,968,828 NC Aal NA AA+u NC 8/31/29
Subtotal 47 75,275,000 73,485,708 Avg. 74,133,269
LGIP LGIP NA 67,085,199 67,085,199 4.600 4.60% NA NA 14 67,085,199 NC NA NA NA NA NA
Grand Totals $ 142,360,199 $ 140,570,907 3.88% 320 $ 141,218,468
Page 4 of 8 2026 02 TSO spreadsheet
17
Page 5 of 8
City of Yakima
Investment Portfolio Maturity Distribution at 06/30/2026
$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
tID V (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 rn rn rn rn rn rn
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
Gq Q a"' > C) C ? C - GO Q a"' > a C >, C - GO Q a"' > a C ? C - I o
a
7 U) () O o z o U) f0 N U O N f0 N O- f0 7 7 N U Cl)
Page 5 of 8 2026 Q2 TSO spreadsheet
18
City of Yakima
Investment Portfolio-Detail of Activity
June 30,2026
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 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 1633 1,000,000 1,000,000
FFCB Total 11,000,000 - - 11,000,000
Federal Home Loan Bank
FHLB -
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 11,000,000 - (2,000,000) 9,000,000
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 - (2,000,000) 2,000,000
US Treasury
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 1634 2,000,000 2,000,000
US Treasury 1635 1,000,000 1,000,000
US Treasury 1639 2,000,000 2,000,000
US Treasury 1640 2,000,000 2,000,000
US Treasury 31,000,000 4,000,000 (2,000,000) 33,000,000
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
Cisco 1632 1,000,000 1,000,000
Mastercard 1636 1,000,000 1,000,000
Home Depot 1637 1,000,000 1,000,000
IBM 1638 1,000,000 1,000,000
Corporate Total 12,000,000 2,000,000 - 14,000,000
Subtotal 75,275,000 6,000,000 (6,000,000) 75,275,000
Other Investments - - - -
LGIP(State Pool) LGIP 54,537,359 12,547,840 - 67,085,199
Other Investment Totals 54,537,359 12,547,840 - 67,085,199
(Grand Totals $ 129,812,359 $ 18,547,840 $ (6,000,000) $ 142,360,199
Page 6 of 8 2026 Q2 TSO spreadsheet
19
City of Yakima
Long Term Debt Schedule-by Project Group
June 30,2026
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 3,500,000 943,952.960
9/24/2018 6/1/2035 Soccer Complex(Refunded) City portion of SOZO Sports Complex 4,440,127 2,842,876.660
9/24/2018 12/1/1942 2018 Aquatic Center YMCA City portion of Aquatic Center 8,009,873 7,542,004.240
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 Refui 2020B Convention Center Addition III Refunded 2,495,000 2,080,000.000
Subtotal General Obligation Bonds 35,975,000 26,788,833.860
Certificate of Participation-State of Washington
9/28/2017 6/1/2027 Energy Project 2017 Energy Project(lighting) 921,683 111,282.030
7/21/2020 6/1/2035 Energy Project 2020 Energy Efficiency Project(lighting) 1,415,000 970,000.000
9/28/2017 6/1/2027 Fire Aerial&Pump App Fire Aerial 1,268,053 153,101.910
Subtotal Certificates of Participation 3,604,736 1,234,383.940
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 3,000,000 330,200.500
5/6/2010 6/1/2034 L1000030-0 2010 Railroad Grade Separation 1,229,295 598,664.700
6/17/2014 5/1/2034 Comm Center Move City portion of County GO Bonds 1,716,500 830,000.000
6/1/2016 6/1/2027 '16 Yak Co SIED-SOZO 2016 Yakima Co SIED Loan-SOZO 900,000 103,480.770
7/17/2018 6/1/2029 '18 Yak Co SIED-River Rd. 2018 Yakima Co SIED-River Rd Improvements/Aquatics Center 500,000 175,106.050
3/2/2021 6/1/2032 21 Yak Co Seid-SOZO 2021 Yakima Co SEID Loan SOZO 1,000,000 647,338.760
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 312,500 280,657.040
4/30/2007 6/1/2027 PW-07-962-019 2007 Ultra Violet Disinfection 2,300,000 121,388.890
4/15/2009 6/1/2028 PC-08-951-051 2009 New Water Well 2,257,200 242,297.650
10/10/2011 3/31/2033 L1100008 2011 Energy Efficiency 516,192 219,857.000
8/1/2011 7/1/2034 L1200019 2012 Industrial Waste Anaerobic 587,173 298,629.270
6/1/2012 6/1/2031 PC-12-951-065 2012 Wastewater Treatment Plan 5,000,000 1,345,395.700
10/11/2012 6/1/2037 PC-13-961-059 2012 Industrial Sewer Extensions 2,000,000 894,736.870
8/5/2013 6/1/2032 PC-13-961-074 2013 Automated Reading System 5,000,000 1,578,947.370
12/31/2021 6/1/2039 PC20-96103-044 2020 Waterline Improvements 1,737,906 1,255,154.590
12/12/2013 10/1/2034 DM-11-952-038 2013 Design WTP Lagoons 3,514,800 1,581,660.020
Subtotal Intergovernmental Loans 31,987,566 10,919,515.180
Grand Total 77,417,302 41,797,732.980
Page 7 of 8 2026 Q2 TSO spreadsheet
20
City of Yakima
Interfund Borrowing
June 30,2026
Original Beginning Ending
Description Balance Balance Issued Retired Balance
323-Millsite #3 176,000.00 147,129.83 - 147,129.83
479-Nelson Dam 6,299,691.00 1,416,666.58 250,000.02 1,166,666.56
331-MLK Pool 250,000.00 250,000.00 - 250,000.00
Total across all funds 6,725,691.00 1,813,796.41 - 250,000.02 1,563,796.39
Per Ordinance#2013-011 Tempory Interfund Loans to help with cash flow.
Page 8 of 8 2026 Q2 TSO spreadsheet
21
. FINANCE
Committee Review of Investment Rationale
Date: April 20, 2026
Investment # 2026-1637 is a 5-year Home Depot Inc. bond, face value $1,000,000,
maturing June 25, 2029, 4.75% coupon, purchased at a Premium of 102.266 to yield
3.963811. This trade settles on April 21, 2026, with Hill Top Securities Inc., US Bank
Safekeeping, reducing our elevated LGIP position caused by called maturities during 2026.
Liquidity: On March 31st, month-end, Key Bank checking account balance was $12.1
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 $54.5
million.
Safety: This purchase is a debt issue of the Home Depot Corporation, equivalent to A/A2
rating by S&P and Moody's.
Yield. Yield is 3.9638. This investment is 26 basis points over LGIP and 12 bases point
over the 5-year treasury, and 24 bases points over the 3-year treasury, seeking to protect
yield in an uncertain environment. Comparable yields are:
LGIP current 30-day yield 3.6983% www.secureaccess.wa.gov
5-year Treasury 3.84000% Treasury.gov
3-year Treasury 3.7200% Treasury.gov
Callability. This investment has a make whole call (MW-10).
Diversification. This purchase brings Corporate Bonds to 10% of total portfolio.
Outlook.According to International Monetary Fund, the US economy in April 2026 exhibits
resilience with projected growth around 1.6% to 2.3%, supported by Al-driven productivity,
though it faces headwinds from elevated oil prices, high budget deficits (1.9 trillion), and
slowing labor markets with unemployment near 4%-4.6%. Core Personal Consumption
Expenditures (PCE) inflation is beginning to ease but remains sticky, leading to a patient,
steady interest rate stance by the Federal Reserve.
Investment Committee review:
Finance Director: .- 7 /77 Date Y/�/� 4-
City Manage : .,/ Date jag I Dpap
22
tiT 1-,
age .`:
(.....e,"
FINANCE
Committee Review of Investment Rationale
Date: April 20, 2026
Investment # 2026-1638 is a 10-year IBM Inc. bond, face value $1,000,000, maturing
May 15, 2029, 3.50% coupon, purchased at a Discount of 98.228 to yield 4.1203. This
trade settles on April 21, 2026, with Time Value Investments, Inc., US Bank Safekeeping,
reducing our elevated LGIP position caused by called maturities during 2026.
Liquidity: On March 31st, month-end, Key Bank checking account balance was $12.1
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 $54.5
million.
Safety: This purchase is a debt issue of the IBM Corporation, equivalent to A-/A3 rating by
S&P and Moody's.
Yield. Yield is 4.1203. This investment is 42 basis points over LGIP and 28 bases point
over the 5-year treasury, and 40 bases points over the 3-year treasury, seeking to protect
yield in an uncertain environment. Comparable yields are:
LGIP current 30-day yield 3.6983% www.secureaccess.wa.gov
5-year Treasury 3.84000% Treasury.gov
3-year Treasury 3.7200% Treasury.gov
Callability. This investment has a make whole call (MW-20).
Diversification. This purchase brings Corporate Bonds to 11% of total portfolio.
Outlook. According to International Monetary Fund, the US economy in April 2026 exhibits
resilience with projected growth around 1.6% to 2.3%, supported by Al-driven productivity,
though it faces headwinds from elevated oil prices, high budget deficits (1.9 trillion), and
slowing labor markets with unemployment near 4%-4.6%. Core Personal Consumption
Expenditures (PCE) inflation is beginning to ease but remains sticky, leading to a patient,
steady interest rate stance by the Federal Reserve.
Investment Committee review:
/
Finance Director: (1—.7-17 /77 4 Date /1,24.
City Manager: _ Date 4') Dv) aa{v
23
}.t
It . V
FINANCE
Committee Review of Investment Rationale
Date: May 12, 2026
Investment#2026-1639 is a 7-year US Treasury, face value$2,000,000, maturing July
31, 2029, 2.63% coupon, purchased at a significant discount of 96.175 to yield 3.900.
This trade settles on May 13, 2026, with KeyBanc Capital Markets, Inc., US Bank
Safekeeping, reducing our elevated LGIP position caused by called maturities during 2026.
Liquidity: On April 30th, month-end, Key Bank checking account balance was $8.7 million,
US Bank checking balance was $13.2 million, and the investment portfolio was $75.3
million (Treasuries, Corporates and Agencies). Current LGIP balance was $54.7 million.
Safety: This purchase is a debt issue of the Federal Government, equivalent to Aa1/AA+u
rating by Moody's and Fitch.
Yield. Yield is 3.900. This investment is 21 basis points over LGIP and 17 bases point
under the 5-year treasury, and 6 bases points under the 3-year treasury, seeking to protect
yield in an uncertain environment. Comparable yields are:
LGIP current 30-day yield 3.693% _ 1 www.secureaccess.wa.gov
5-year Treasury 4.070% 1 Treasury.gov _-1
3-year Treasury 3.960% Treasury.gov
Callability. This investment is not callable (a bullet).
Diversification. This purchase brings this issuer to 25% of total portfolio.
Outlook. As of May 2026, the Federal Reserve is in a "holding pattern," maintaining the
benchmark federal funds rate at a target range of 3.50% to 3.75%. While the year began
with expectations for several rate cuts, persistent inflation and a resilient labor market have
shifted the outlook toward a "higher for longer" stance.
Investment Committee review:
Finance Director: 4/,__ Date 3//2f z 6
City Manage : Date S , 1�l 25CD(.49
24
•
FINANCE
Committee Review of Investment Rationale
Date: June 15, 2026
Investment # 2026-1640 is a 5-year US Treasury, face value $2,000,000, maturing
August 31, 2029, 3.63% coupon, purchased at a discount of 98.877 to yield 4.000.
This trade settles on June 16, 2026, with Time Value Investments, Inc., US Bank
Safekeeping, reducing our elevated LGIP position caused by called maturities during 2026.
Liquidity: On May 31 st , month-end, Key Bank checking account balance was $9.7 million,
US Bank checking balance was $13.2 million, and the investment portfolio was $75.3
million (Treasuries, Corporates and Agencies). Current LGIP balance was $61.9 million.
Safety: This purchase is a debt issue of the Federal Government, equivalent to Aa1/AA+u
rating by Moody's and Fitch.
Yield. Yield is 4.000. This investment is 32 basis points over LGIP and 18 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 f 3.676% _ _ www.secureaccess.wa.gov
5-year Treasury 4.18% Treasury.gov
3-year Treasury 4.10% Treasury.gov
Callability. This investment is not callable (a bullet).
Diversification. This purchase brings this issuer to 24% of total portfolio.
Outlook. According to the Philadelphia Federal Reserve Bank, economists project the US
economy will see resilient real GDP growth of roughly 2.1% to 2.5% in 2026, outpacing
other wealthy nations, despite lingering headwinds from global tariffs, energy price shocks,
and elevated inflation. The labor market remains tight with unemployment expected to
average around 4.5%.
Investment Committee review:
Finance Director: "_` Date I6
City Manager: Date ( I to I a o4v
25