The URL can be used to link to this page

Home My WebLink About08/01/2022 06.B. 2022 2nd Quarter Treasury Report gf-\4111;141 Y�'1114'+ BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 6.B. For Meeting of:August 1, 2022 ITEM TITLE: 2022 2nd Quarter Treasury Report SUBMITTED BY: Jennifer Ferrer-Santa Ines, Director of Finance and Budget Kimberly Domine, Financial Services Manager SUMMARY EXPLANATION: The Treasury Report for the 2nd quarter of 2022 is attached and consists of the following: • 2nd Quarter Treasurer's Report. • Cash and Investments• • Long term Debt. • I me rf u nd Borrowings ITEM BUDGETED: NA STRATEGIC PRIORITY: Public Trust and Accountability APPROVED FOR SUBMITTAL BY THE CITY MANAGER RECOMMENDATION: Review only. Submitted for routine transparency and accountability purposes. ATTACHMENTS: Description Upload Date Type 0 Treasury Report 7/11/2022 Corer Memo 2 �,c YA"•••,, FINANCE Date: July 7, 2022 •. '.WPTA To: Mayor and City Council CERTIFICATEOF 1(CELLENCE • t Investment Polity Bob Harrison, City Manager CITY OF YAKIMA February NM From: Jennifer Ferrer-Santa Ines, Director of Finance and Budget Kimberly Domine, Financial Services Manager •. .r 4 -T.= : ' Re: 2022 — 2nd Quarter Treasury Report This report is to transparently report 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 on April 10, 2019. Total Cash and Investments at Quarter-end total $151.4 million: $18.5 million in depository banks, $76.9 million in the State Pool, and $56.0 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). The June 2022 month end balance is higher than prior years due to the 2nd instalment of approximately $13 million in American Rescue Plan Funds. City of Yakima Liquid Cash and Investments History $160,000,000 $140,000,000 $120,000,000 -- $100,000,000 -- $80,000,000 $60,000,000 $40,000,000 $20,000,000 so co co cc co ch Ch Cl d, o O o o r I.I a 0 t a C ) 0 t t 0 ' l 3 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: • 1522 $1 ,000,000 FAMCA matured 6/01/2022 • 1523 $1 ,000,000 FFCB matured on 5/16/2022 • 1550 $1 ,000,000 FNMA matured on 4/05/2022 Purchases: During the last quarter, the following were purchased: • 1576 $2,000,000 US Treasury to mature 7/31/2025 • 1577 $1 ,000,000 US Treasury to mature 3/31/2023 • 1578 $2,000,000 FNMA to mature 8/25/2025 • 1579 $2,000,000 FFCB to mature 11/25/2025 Portfolio and Benchmark Yield and Maturity: Avg. weighted yield of City investments, excluding LGIP: .90% LGIP State Pool 30-day yield: 1.0% Weighted average maturity of City investments, excluding LGIP: 296 days Weighted average maturity of LGIP State Pool 30-day yield: 17 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 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 consist 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). 2 4 F/N4 NCE 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. Current Rates. As of June 30, 2022, the fixed income market has shown some growth and is expected to continue to increase. The difference between the 1-year Treasury at 2.79% and the 5-year Treasury at 2.88%was only 9 basis points. The 30-day yield of the State Pool Jumped to 1.00%,with a 17-day avg. maturity and is expected to continue to increase. Economic Outlook. With the current inflation and raising interest rates,the market will continue to ebb and flow. The Federal Reserve is expected to tighten up again with another 75 bases points. 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 % LGIP 76,874,505 57.85% Treasuries 28,000,000 21.07% Agencies 26,000,000 19.57% Corporates 2,000,000 1.51% 132,874,505 100.00% Debt Activity All debt paymentswere paid out as scheduled. A comprehensive city-wide debt report is attached with current balances. Interfund Borrowinas and Investments Borrowing between funds is temporary in nature, reviewed periodically by staff and Council, amended as circumstances change. Currently there is one Interfund Loan to help cash flow the Mill Site Project that is waiting for the receipt of grant reimbursements. 3 City of Yakima Cash and Investment Summary June 30, 2022 Current Prior Quarter Prior Year Description 6/30/2022 3/31/2022 6/30/2021 Cash Balances on Hand in Banks $ 18,573,295 $ 18,804,602 $ 16,618,602 Local Government Investment Pool (LGIP) 76,874,505 63,652,095 57,600,578 Investment Portfolio 56,000,000 52,000,000 44,000,000 Total Investments 132,874,505 115,652,095 101 ,600,578 Total Cash and Investments $ 151 ,447,800 $ 134,456,697 $ 118,219,180 Beg Balance Purchases Interest Maturities, Calls End Balance Summary of Investment Activity 3/31/2022 & Deposits Reinvested & Withdrawals 6/30/2022 Local Government Investment Pool (LGIP) $ 63,652,095 $ 19,097,740 $ 124,670 $ (6,000,000) $ 76,874,505 Investment Portfolio 52,000,000 7,000,000 - (3,000,000) 56,000,000 Total Investments $ 115,652,095 $ 26,097,740 $ 124,670 $ (9,000,000) $ 132,874,505 Page 1 of 8 2022 02 TSO spreadsheet City of Yakima Distribution of Cash and Investments as of 6/30/2022 Depository Banks, $18,573,295 , 12% Investment Portfolio, 56,000,000 , 37% Local Government Investment Pool, $76,874,505 , 51% Page 2 of 8 City of Yakima Investment Portfolio -Inventory by Agency June 30, 2022 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 FHLB 1509 313383VVD9 1,000,000 1,013,146 3.125 2.750 12/19/18 9/9/22 71 1,002,542 Amer Aaa AA+ AA+ 12/1/18 11/9/21 FFCB 1519 3133EKHN9 1,000,000 997,450 2.330 2.406 4/18/19 10/18/22 110 1,000,704 NC Aaa AA+ AAA NC 10/18/22 FFCB 1551 3133EA7E2 1,000,000 1,014,130 1.960 1.430 2/14/20 11/7/22 130 999,281 NC Aaa AA+ AAA NC 11/7/22 FHLB 1544 313381BR5 1,000,000 1,006,250 1.875 1.660 12/11/19 12/9/22 162 998,021 NC Aaa AA+ AAA NC 12/9/22 FNMA 1541 3135GOT94 1,000,000 1,023,490 2.375 1.610 11/20/19 1/19/23 203 999,077 NC Aaa AA+ AAA NC 1/19/23 FFCB 1557 3133EG5Y7 1,000,000 1,045,401 2.230 0.650 3/6/20 2/2/23 217 997,529 NC Aaa AA+ AAA NC 2/2/23 UST 1577 91282CBU4 1,000,000 983,828 0.125 1.980 5/12/22 3/31/23 274 980,508 NC Aaa NA AAA NC 3/31/23 FFCB 1570 3133EMVP4 1,000,000 997,850 0.125 0.270 10/18/21 4/13/23 287 978,658 NC Aaa AA+ AAA NC 4/13/23 AAPL 1516 037833AK6 1,000,000 991,000 2.400 2.634 4/8/19 5/3/23 307 994,075 NC AA1 AA+ - NC 5/3/23 VVMT 1513 931142EK5 1,000,000 1,026,800 3.400 2.730 3/15/19 6/26/23 361 1,002,925 NC Aa2 AA AA NC 6/26/23 FFCB 1561 3133EMVVL2 2,000,000 2,000,314 0.200 0.193 4/19/21 7/19/23 384 1,942,652 NC Aaa AA+ AAA NC 7/19/23 UST 1545 9128284X5 1,000,000 1,039,063 2.750 1.660 12/11/19 8/31/23 427 996,992 NC Aaa AA+ AAA NC 8/31/23 FAMCA 1508 3132X06C0 1,000,000 1,010,972 3.050 2.801 12/19/18 9/19/23 446 1,000,600 NC Aaa AA+ AAA NC 9/19/23 FHLB 1558 313375ZL4 2,000,000 2,143,690 2.795 0.200 1/7/21 10/17/23 474 1,993,784 NC Aaa AA+ AAA NC 10/17/23 FFCB 1537 3133EK4X1 1,000,000 997,924 1.600 1.654 11/6/19 11/1/23 489 982,265 NC Aaa AA+ AAA NC 11/1/23 FFCB 1560 3133EJ2B4 2,000,000 2,147,340 3.000 0.260 3/24/21 12/6/23 524 2,001,238 NC Aaa AA+ AAA NC 12/6/23 FAMCA 1552 31422BSD3 1,000,000 1,004,430 1.590 1.470 2/14/20 1/10/24 559 978,472 NC NA NA NA NC 1/10/24 FNMA 1540 313590V34 1,000,000 1,032,055 2.500 1.710 11/14/19 2/5/24 585 991,580 NC Aaa AA+ AAA NC 2/5/24 FNMA 1573 313590V34 1,000,000 1,035,991 2.500 0.771 12/28/21 2/5/24 585 991,580 NC Aaa AA+ AAA NC 2/5/24 UST 1559 912828VV71 2,000,000 2,112,188 2.125 0.290 3/4/21 3/31/24 640 1,967,890 NC Aaa AA+ AAA NC 3/31/24 UST 1565 91282CBV2 1,000,000 999,023 0.380 0.410 6/30/21 4/14/24 654 953,242 NC Aaa NA AAA NC 4/14/24 UST 1553 9128286R6 1,000,000 1,034,063 2.250 1.413 2/14/20 4/30/24 670 987,734 NC Aaa NA AAA NC 4/30/24 UST 1562 912828XT2 2,000,000 2,103,125 2.000 0.325 4/26/21 5/31/24 701 1,960,704 NC Aaa NA AAA NC 5/31/24 FAMCA 1533 31422BGA2 1,000,000 1,022,900 2.150 1.634 10/18/19 6/5/24 706 983,040 NC NA NA NA NC 6/5/24 UST 1566 91282CCG4 1,000,000 994,102 0.250 0.451 6/30/21 6/15/24 716 946,602 NC Aaa NA AAA NC 6/15/24 UST 1563 9128282N91 2,000,000 2,112,813 1.125 0.352 5/16/21 7/31/24 762 1,961,640 NC Aaa NA AAA NC 7/31/24 UST 1546 9128282U3 1,000,000 1,008,789 1.875 1.660 12/11/19 8/31/24 793 974,531 NC Aaa NA AAA NC 8/31/24 UST 1564 912828YH7 2,000,000 2,074,922 1.500 0.361 6/8/21 9/30/24 823 1,930,782 NC Aaa NA AAA NC 9/30/24 UST 1567 912828YM6 2,000,000 2,074,531 1.500 0.343 8/3/21 10/31/24 854 1,927,734 NC Aaa NA AAA NC 10/31/24 FFCB 1538 3133EK6J0 1,000,000 994,700 1.625 1.736 11/8/19 11/8/24 862 967,051 NC Aaa AA+ AAA NC 11/8/24 FHLB 1554 3130A3GE8 1,000,000 1,058,979 2.750 1.480 2/14/20 12/13/24 897 990,378 NC Aaa AA+ NA NC 12/13/24 FAMCA 1555 31422BRT9 1,000,000 1,011,943 1.750 1.495 2/14/20 1/3/25 918 966,645 NC NA NA NA NC 1/3/25 UST 1572 912828ZC7 2,000,000 2,015,156 1.125 0.890 11/16/21 2/28/25 974 1,898,360 NC Aaa NA AAA NC 2/28/25 UST 1574 912828ZF0 2,000,000 1,946,797 0.500 1.365 2/3/22 3/31/25 1,005 1,861,250 NC Aaa NA AAA NC 3/31/25 UST 1568 912828ZL7 1,000,000 995,467 0.375 0.500 9/1/21 4/30/25 1,035 925,273 NC NA NA NA NC 4/30/25 UST 1568 912828ZL7 1,000,000 995,467 0.375 0.500 9/1/21 4/30/25 1,035 925,273 NC NA NA NA NC 4/30/25 UST 1575 912828ZT0 2,000,000 1,925,992 0.250 1.420 3/2/22 5/31/25 1,066 1,839,610 NC Aaa NA AAA NC 5/31/25 UST 1571 912828ZVV3 1,000,000 979,531 0.250 0.813 10/18/21 6/30/25 1,096 917,617 NC Aaa AA+ AAA NC 6/30/25 UST 1576 91282CAB7 2,000,000 1,843,472 0.250 2.780 4/29/22 7/31/25 1,127 1,838,360 NC Aaa NA AAA NC 7/31/25 UST 1569 91282CAM3 1,000,000 980,735 0.250 0.740 10/1/21 9/30/25 1,188 910,312 NC NA NA NA NC 9/30/25 FNMA 1578 3135G05X7 2,000,000 1,844,334 0.375 2.870 5/12/22 8/25/25 1,152 1,830,740 NC Aaa AA+ AAA NC 8/25/25 FFCB 1579 3133ENXQ8 2,000,000 1,992,128 2.800 2.920 6/7/2022 11/25/2025 1,244 1,973,988 NC Aaa AA+ NA NC 11/25/25 Subtotal 42 56,000,000 56,632,280 Avg. 54,271,239 LGIP LGIP NA 76,874,505 76,874,505 0.300 0.300 NA NA 1 76,874,505 NC NA NA Grand Totals $ 132,874,505 $ 133,506,785 0.83% 296 $ 131,145,744 Page 3 of 8 2022 Q2 TSO spreadsheet City of Yakima Investment Portfolio by Issuer at 6/30/2022 US T, 28,000,000, 21% FAMCA, 4,000,000, 3% FH LB, 5,000,000,4% FNMA, 5,000,000, 4% bithitiek., FFCB, 12,000,000, 9% WMT, 1,000,000, 1% 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. LGIP 76 874,505 , 58% Page 4 of 8 2022 Q2 TSO spreadsheet Page 5 of 8 City of Yakima Investment Portfolio Maturity Distribution at 6/30/2022 $5,000,000 $4,500,000 Diversifying by maturity reduces the re-investment risk $4,000,00o the city is subject to in any given month when an $3,500,000 investment matures and the principal is reinvested at rates $3,000,000 available at that moment. $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 N N N m m m m m m m m m m m m a a a a a g a in ul in ul ul in ul ul in ul in N N N N N N N N N N N N fV N N N N N N N N N N N N N N N N N N N N N N N N o_ t ccij c c rin Q > u c > c uo Q > c c _0 " a c CO o_ t > an 0 I 5 LL Q — Q 0 Z 5. LL Q 5 — Q 0 z° LL Q — Q cn 0 Page 5 of 8 2022 Q2 TSO spreadsheet City of Yakima 10 Investment Portfolio-Detail of Activity June 30,2022 Beginning Additions and Calls and Ending Agency Inv# Face Value Purchases Maturities Face Value Farmer Mac FAMCA 1508 1,000,000 - 1,000,000 FAMCA 1522 1,000,000 - (1,000,000) - FAMCA 1533 1,000,000 - - 1,000,000 FAMCA 1552 1,000,000 - 1,000,000 FAMCA 1555 1,000,000 - - 1,000,000 FAMCA Total 5,000,000 - (1,000,000) 4,000,000 Federal Farm Credit Bureau FFCB 1519 1,000,000 - 1,000,000 FFCB 1523 1,000,000 - (1,000,000) - FFCB 1537 1,000,000 - - 1,000,000 FFCB 1538 1,000,000 - - 1,000,000 FFCB 1551 1,000,000 - - 1,000,000 FFCB 1557 1,000,000 - - 1,000,000 FFCB 1560 2,000,000 - 2,000,000 FFCB 1561 2,000,000 - 2,000,000 FFCB 1570 1,000,000 1,000,000 FFCB 1579 2,000,000 2,000,000 FFCB Total 11,000,000 2,000,000 (1,000,000) 12,000,000 Federal Home Loan Bank FHLB 1509 1,000,000 - - 1,000,000 FHLB 1544 1,000,000 - - 1,000,000 FHLB 1554 1,000,000 - - 1,000,000 FHLB 1558 2,000,000 - 2,000,000 FHLB Total 5,000,000 - - 5,000,000 Federal National Management Association FNMA 1540 1,000,000 - 1,000,000 FNMA 1541 1,000,000 - - 1,000,000 FNMA 1550 1,000,000 - (1,000,000) - FNMA 1573 1,000,000 1,000,000 FNMA 1578 2,000,000 2,000,000 FNMA Total 4,000,000 2,000,000 (1,000,000) 5,000,000 US Treasury 1545 1,000,000 - - 1,000,000 US Treasury 1546 1,000,000 - - 1,000,000 US Treasury 1553 1,000,000 - - 1,000,000 US Treasury 1559 2,000,000 - 2,000,000 US Treasury 1562 2,000,000 - 2,000,000 US Treasury 1563 2,000,000 - 2,000,000 US Treasury 1564 2,000,000 2,000,000 US Treasury 1565 1,000,000 1,000,000 US Treasury 1566 1,000,000 1,000,000 US Treasury 1567 2,000,000 2,000,000 US Treasury 1568 2,000,000 2,000,000 US Treasury 1569 1,000,000 1,000,000 US Treasury 1571 1,000,000 1,000,000 US Treasury 1572 2,000,000 2,000,000 US Treasury 1574 2,000,000 2,000,000 US Treasury 1575 2,000,000 2,000,000 US Treasury 1576 2,000,000 2,000,000 US Treasury 1577 1,000,000 1,000,000 US Treasury 25,000,000 3,000,000 - 28,000,000 Corporate Notes AAPL 1516 1,000,000 - 1,000,000 WMT 1513 1,000,000 - 1,000,000 Corporate Total 2,000,000 - - 2,000,000 Subtotal 52,000,000 7,000,000 (3,000,000) 56,000,000 Other Investments - - - - LGIP(State Pool) LGIP 63,652,095 19,222,410 (6,000,000) 76,874,505 Other Investment Totals 63,652,095 19,222,410 (6,000,000) 76,874,505 (Grand Totals $ 115,652,095 $ 26,222,410 $ (9,000,000) $ 132,874,505 Page 6 of 8 2022 Q2 TS0 spreadsheet City of Yakima Long Term Debt Schedule-by Project Group June 30,2022 Date Issued Maturity Description Note Amount of Issue Current Balance General Obligation Bonds 6/17/2003 12/1/2023 Sundome Expansion Deferred Interest-Maturity$2.5M 1,430,528 117,449 6/20/2013 12/1/2028 Street Project Demonstration(Refunded) Various City street improvements 3,500,000 2,290,765 6/9/2014 6/1/2024 Street Resurfacing Project Streets improvements 13,140,000 3,140,000 9/24/2018 6/1/2035 Soccer Complex(Refunded) City portion of SOZO Sports Complex 4,440,127 3,784,638 9/24/2018 12/1/1942 2018 Aquatic Center YMCA City portion of Aquatic Center 8,009,873 7,882,955 4/21/2020 12/1/2022 2020 Refunding Bonds,Downtown Future 2020 Refunding Bonds,Downtown Futures 260,000 126,750 4/21/2020 12/1/2022 2020 Refunding Bonds,WV Fire Station 2020 Refunding Bonds,WV Fire Station 140,000 68,250 4/21/2020 12/1/2032 2020E Capital Theatre 09 Refunded 2020B Capital Theatre 09 Refunded 4,910,000 4,220,000 4/21/2020 12/1/2044 2020E Convention Center Addition 2020B Convention Center Addition 12,620,000 12,050,000 4/21/2020 12/1/2844 2020E Convention Center Addition III RM 2020E Convention Center Addition Ill Refunded 2,495,000 2,380,000 Subtotal General Obligation Bonds 63,900,528 36,060,807 Certificate of Participation-State of Washington 3/19/2013 6/1/2023 Fire Apparatus One truck 310,414 38,259 9/28/2017 6/1/2027 Energy Project 2017 Energy Project(lighting) 921,863 523,258 7/21/2020 6/1/2035 Energy Project 2020 Energy Effidency Project(Lighting) 1,415,000 1,285,000 9/28/2017 6/1/2027 Fire Aerial&Pump App Fire Aerial 1,268,053 719,898 Subtotal Certificates of Participation 4,492,178 2,566,415 Revenue Bonds 43942 49279 2020 Ref 04 Irrigation 2020 Ref 04 Irrigation 3,260,000 2,905,000 43942 46722 2020 Ref 08 WS Rev 2020 Ref 08 WS Rev 2,590,000 2,080,000 5/31/2012 11/1/2023 Wastewater Refunded 2003$10,155,000 issue 9,400,000 2,195,000 Subtotal Revenue Bonds 25,905,000 7,180,000 Intergovernmental Loans 8/14/2009 9p/2028 PC-08-951-052 2009 Railroad Grade Separation 3,000,000 990,602 5/6/2010 6/1/2034 L1000030-0 2010 Railroad Grade Separation 1,149,841 849,824 6/17/2014 5/1/2034 Comm Center Move City portion of County GO Bonds 1,716,500 1,170,000 9/30/2015 6/1/2023 '15 Yak Co SIED-21st Ave/Airport 2015 Yakima Co SLED Loan-21st Ave/Airport 307,000 56,706 6/1/2016 6/1/2027 '16 Yak Co SIED-SOZO 2016 Yakima Co SIED Loan-SOZO 900,000 491,603 11/21/2017 6/1/2024 '17 Yak Co SIED-YV Brewing Project 2017 Yakima Co SIED Loan-YV Brewing Project 61,580 27,016 7/17/2018 6/1/2029 '18 Yak Co SIED-River Rd. 2018 Yakima Co SIED-River Rd Improvements/Aquatics Center 500,000 380,436 3/2/2021 6/1/1932 21 Yak Co Seid-SOZO 2021 Yakima Co Seid Loan SOZO 1,000,000 1,000,000 9/1/2003 6/1/2023 PW-03-691-025 2003 Neches WTP Improvements 2,694,500 134,725 6/27/2005 10/1/2025 SRF-04-65104-037 2005 Neches River WTP Filter Rehab 966,772 188,291 12/30/2005 6/1/2025 PW-05-691-064 2005 River Road Sewer 2,307,000 372,737 4/30/2007 6/1/2027 PW-07-962-019 2007 Ultra Violet Disinfection 2,300,000 606,944 4/15/2009 6/1/2028 PC-08-951-051 2009 New Water Well 2,257,200 726,893 10/10/2011 3/31/2033 L1100008 2011 Energy Efficiency 503,558 327,462 8/1/2011 9p/2034 L1200019 2012 Industrial Waste Anaerobic 590,350 417,916 6/1/2012 6/1/2031 PC-12-951-065 2012 Wastewater Treatment Plan 5,000,000 2,421,712 10/11/2012 6/1/2037 PC-13-961-059 2012 Industrial Sewer Extensions 2,000,000 1,220,096 8/5/2013 6/1/2032 PC-13-961-074 2013 Automated Reading System 5,000,000 2,631,579 12/31/2021 6/1/2039 PC20-96103-044 2020 Waterline Improvements 1,737,906 1,641,356 12/12/2013 10/1/2034 DM-11-952-038 2013 Design WTP Lagoons 3,514,800 2,284,620 Subtotal Intergovernmental Loans 37,507,007 17,940,518.21 Grand Total 131,804,713 63,747,740 Page 7 of 8 2022 02 ISO spreadsheet City of Yakima Interfund Borrowing June 30,2022 Original BeginningID Ending escription Balance Balance Issued Retired Balance Millsite 2022 800,000 800,000 0 $ 800,000 Total across all funds 800,000 800,000 - - 800,000 Per Ordinance#2013-011 Tempory Interfund Loans to help with cash flow. Page 8 of 8 2022 Q2 TSO spreadsheet 13 y e... FINANCE Committee Review of Investment Rationale Date: June 7, 2022 Investment # 2022-1579 is a 3-year FFCB (Federal Farm Credit Bank), face value $2,000,000, maturing November 25, 2025, 2.8% coupon at 99.606400 to yield 2.92%. This trade settles June 7, 2022 with Time Value Investments, Inc., US Bank Safekeeping, reducing our elevated LGIP position caused by maturities called during 2022. Liquidity: At May 30th , month-end, Key Bank checking account balance was $7.8 million (target minimum is $3 Million), US Bank checking balance was $10.07 million and investment portfolio was $55.0 million (target is $64 million for Treasuries, Corporates and Agencies). Current LGIP balance was $65.7 million (target minimum is $5 million). Safety: This purchase is a debt issue of a government—sponsored enterprise (GSE), that carries an explicit federal guarantee, equivalent to Aaa/AA+ rating by Moody's and S&P. Yield. Yield is 2.92%. This investment is 217 basis points over LGIP, seeking to maximize yield in a conservative environment. LGIP's yield is expected to increase slowly over the next year. Comparable yields are: LGIP current 30-day yield 0.745772% www.secureaccess.wa.gov 3-year Treasury 2.8400% , Daily Treasury Yield Curve Callability. This investment is not callable (a bullet). Diversification. This purchase brings this issuer to 9.8% of total portfolio. This purchase added a maturity date previously not covered in the city's laddered portfolio. Outlook. The yield curve is higher than last month and appears to be on the increase; the 1-year Treasury at 2.16%, the 2-year at 02.66% the 3-year at 2.84%, and the 5-year at 2.94%. The Federal Reserve Bank has started increasing the rates with a 50 bases point increase last month. By filling maturity gaps in a shortened 3-4-year ladder, we minimize reinvestment risk while maximizing our earnings. Investment Committee review: Finance Director: t' Date 6/71i2-- City Manager: 11MI Date 11I2O2-7.- 14 Yy' ' FINANCE Committee Review of Investment Rationale Date: May 13, 2022 Investment# 2022-1578 is a 5-year FNMA (Federal National Mortgage Association / Fannie Mae), face value $2,000,000, maturing August 25, 2025, .375% coupon at 92.216700 to yield 2.87%. This trade settles May 12, 2022 with Wedbush Securities, Inc., US Bank Safekeeping, reducing our elevated LGIP position caused by maturities called during 2022. Liquidity: At April 30th , month-end, Key Bank checking account balance was $11.3 million (target minimum is $3 Million), US Bank checking balance was $2.7 million and investment portfolio was $53.0 million (target is $64 million for Treasuries, Corporates and Agencies). Current LGIP balance was $63.7 million (target minimum is $5 million). Safety: This purchase is a debt issue of a government—sponsored enterprise (GSE), that carries an explicit Federal guarantee, equivalent to Aaa/AA+ rating by Moody's and S&P. Yield. Yield is 2.87%. This investment is 247 basis points over LGIP, seeking to maximize yield in a conservative environment. LGIP's yield is expected to increase slowly over the next year. Comparable yields are: LGIP current 30-day yield 0.404861% www.secureaccess.wa.gov 3-year Agency FNMA 2.8700% Daily Treasury Yield Curve Callability. This investment is not callable (a bullet). Diversification. This purchase brings this issuer to 23.% of total portfolio. This purchase added a maturity date previously not covered in the city's laddered portfolio. Outlook. The yield curve is higher than last month and appears to be on the increase; the 1-year Treasury at 2.10%, the 2-year at 02.70% the 3-year at 2.87%, and the 5-year at 2.92%. The Federal Reserve Bank has started increasing the rates with a 50 bases point increase last month and an additional increase of another 55 bases points this month. By filling maturity gaps in a shortened 3-4-year ladder, we minimize reinvestment risk while maximizing our earnings. Investment Committee review: Finance Director: `=-! Date - (> _ Za 2 Z City Manager: f _ _ Date 51(LP, ��- 15 • 1-F . FINANCE Committee Review of Investment Rationale Date: May 13, 2022 Investment # 2022-1577 is a 2-year US Treasury (UST), face value $1,000,000, maturing March 31, 2023, .125% coupon at 98.3828125 to yield 1.98%. This trade settles May 12, 2022 with Wedbush Securities, Inc., US Bank Safekeeping, reducing our elevated LGIP position caused by maturities called during 2022. Liquidity: At April 30th , month-end, Key Bank checking account balance was $11.3 million (target minimum is $3 Million), US Bank checking balance was $2.7 million and investment portfolio was $53.0 million (target is $64 million for Treasuries, Corporates and Agencies). Current LGIP balance was $63.7 million (target minimum is $5 million). Safety: This purchase is a debt issue of the Federal Government, equivalent to Aaa/AA+ rating by Moody's and Fitch. Yield. Yield is 1.98%. This investment is 158 basis points over LGIP, seeking to maximize yield in a conservative environment. LGIP's yield is expected to increase slowly over the next year. Comparable yields are: LGIP current 30-day yield 0.404861% www.secureaccess.wa.gov 3-year Agency FNMA 2.8700% Daily Treasury Yield Curve Callability. This investment is not callable (a bullet). Diversification. This purchase brings this issuer to 23.% of total portfolio. This purchase added a maturity date previously not covered in the city's laddered portfolio. Outlook. The yield curve is higher than last month and appears to be on the increase; the 1-year Treasury at 2.10%, the 2-year at 02.70% the 3-year at 2.87%, and the 5-year at 2.92%. The Federal Reserve Bank has started increasing the rates with a 50 bases point increase last month and an additional increase of another 55 bases points this month. By filling maturity gaps in a shortened 3-4-year ladder, we minimize reinvestment risk while maximizing our earnings. Investment Committee review: Finance Director: 7)//L� Date 2//J/7c 'IL City Manager: /gA.et — Date 0 1 (Ip "a-- 16 (141114ifs FINANCE Committee Review of Investment Rationale Date: April 28, 2022 Investment # 2022-1576 is a 5-year US Treasury (UST), face value $2,000,000, maturing July 31, 2025, .25% coupon at 92.17360 to yield 2.78%. This trade settles April 29, 2022 with Time Value Investments, Inc., US Bank Safekeeping, reducing our elevated LGIP position caused by maturities called during 2022. Liquidity: At March 31st , month-end, Key Bank checking account balance was $9.3 million (target minimum is $3 Million), US Bank checking balance was $4.7 million and investment portfolio was $52.0 million (target is $64 million for Treasuries, Corporates and Agencies). Current LGIP balance was $63.6 million (target minimum is $5 million). Safety: This purchase is a debt issue of the Federal Government, equivalent to Aaa/AA+ rating by Moody's and Fitch. Yield. Yield is 2.78%. This investment is 239 basis points over LGIP, seeking to maximize yield in a conservative environment. LGIP's yield is expected to increase slowly over the next year. Comparable yields are: LGIP current 30-day yield 0.389196% www.secureaccess.wa.gov 3-year Agency FNMA 2.7500% Daily Treasury Yield Curve Callability. This investment is not callable (a bullet). Diversification. This purchase brings this issuer to 23.% of total portfolio. This purchase added a maturity date previously not covered in the city's laddered portfolio. Outlook. The yield curve is higher than last month and appears to be on the increase; the 1-year Treasury at 1.97%, the 2-year at 02.58% the 3-year at 2.75%, and the 5-year at 2.81%. The Federal Reserve Bank has started increasing the rates with a 50 bases point increase last month and expected to increase another 55 bases points this month. By filling maturity gaps in a shortened 3-4-year ladder, we minimize reinvestment risk while maximizing our earnings. Investment Committee review: Finance Director: Date yIZ 9/2 D ZZ City Manager: Date rl I �0 �