HomeMy WebLinkAbout05(B)- Approval of 3rd Quarter 2023 Investment Report
City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372
CITY COUNCIL AGENDA REPORT
ITEM: 5B
MEETING DATE: November 06, 2023
PREPARED BY: Jason Etter, Senior Accountant
PRESENTED BY: Cathy Erickson, Finance Director
AGENDA ITEM: Approval of 3rd Quarter 2023 Investment Report
RECOMMENDED ACTION:
Approve the 2023 3rd Quarter Investment Report as presented.
BACKGROUND:
The purpose of this agenda item is for the Council to consider approval of the investment report
for the third quarter of 2023.
Staff has prepared a list of investments as of September 30, 2023. The Investment Report
Summary Narrative provides some supplementary information with respect to the investments
currently held and the allowable forms of investments permitted by Minnesota Statute.
The investment software provides the ability to generate reports and charts by broker, security
type, maturities, etc. The software also enables staff to track interest earned on an accrual basis
versus a cash basis as well as changes in market value.
ALTERNATIVES:
1. Motion and second as part of the consent agenda to approve the 2023 3rd Quarter
Investment Report as presented.
2. Motion and second to remove the Investment Report from the consent agenda for
additional discussion.
ATTACHMENTS:
1. 2023 3rd Q Investment Portfolio by Maturity Range (attach 4)
2. 2023 3rd Q Investment Portfolio by Security Type (attach 5)
3. 2023 3rd Q Investment Portfolio by Security Type graph (attach 3)
4. 2023 3rd Q Investment Summary Report (attach 1)
5. 2023 3rd Q Year to Year Summary Analysis (attach 2)
4646 Dakota Street SE
Prior Lake, MN 55372
INVESTMENT REPORT SUMMARY NARRATIVE
The attached “Investment Portfolio – by Security Type” identifies the various types of investments and
the brokers/banks the City of Prior Lake uses for investment purposes.
As of September 30, 2023, the balance of the investment portfolio is $51,927,490. This is a decrease
of $2M from June 30, 2023. The reason for this decrease is mainly due to our tax settlement from
Scott Co. arriving in the second quarter.
The ‘weighted average yield to maturity at cost’ of the investment portfolio is currently 3.25% which is
an increase from 3.11% as of June 30. The yield will fluctuate due in part to the balances that are in
the short-term money market accounts. At the end of September, the balance in the 4M money mar-
ket was $16.6M.
It continues to be challenging to find competitive rates for short-term investments---30 to 120-day ma-
turities. These short-term securities are necessary to meet cash flow needs for payments to vendors
(including construction contracts) and payroll. The following table shows the treasury rates for the 3rd
quarter of 2023 compared to the previous two years:
As rates increase, the market value of the existing securities will decrease. As of September 30, 2023,
the cost value of the portfolio is more than the market value of the investments by $2M. The change in
the fair value of the securities is adjusted against interest earnings in each of the funds. This is a paper
loss for the third quarter of 2023; no actual gain/loss is realized because the City holds the securities
until maturity.
2
During the third quarter of 2023, the chart below shows how rates are showing an increase, especially
short to mid-term securities. Current long-term rates being offered by financial institutions continue to
increase slightly.
As the attached chart titled Investment Portfolio – Diversification, by Maturity Range indicates, approx-
imately 37% or $19.4M matures within 1 month. Of that total, $16.6M is in the 4M investment pool.
These funds are being held in the 4M investment pool. These funds will be invested as the appropri-
ate security (type, rate, and maturity) becomes available. Staff continues to look for opportunities to
invest our short-term funds.
The City’s investment portfolio amount is a pool of funds identified on the monthly Treasurer’s Report.
As shown on the September Treasurer’s Report, the balance of cash and investments, is $53.8M. Of
this balance, $51.8M is investments and $2M is cash. Because City funds are pooled for investment
purposes, interest is allocated to each fund monthly, and is based upon each individual fund’s propor-
tionate share of the total amount. Overall, the total investment pool does not represent excess re-
serves but rather available financial resources. In most instances, these funds were established and
restricted for specific and designated purposes by either Minnesota Statutes or City Code to accom-
plish the goals and objectives of the City. The constraints for each of the funds are noted on the
Treasurer’s Report.
Investments for local governments are restricted to only those permitted by Minnesota Statutes. Per
the City of Prior Lake Investment Policy, the City has chosen to limit its allowable investments as fol-
lows:
1. Bonds, notes certificates of indebtedness, treasury bills or other securities
now or hereafter issued by the United States of America, its agencies and al-
lowable instrumentalities;
2. Interest bearing checking and savings accounts, or any other investments
constituting direct obligations of any bank;
3
3. Certificates of deposit at state and federally chartered institutions that are lim-
ited to the amount of coverage provided by the Federal Deposit Insurance
Corporation;
4. Money market accounts that are invested in above referenced government se-
curities;
5. State and local securities which have at the time of investment one of the
three highest credit ratings by a nationally recognized rating agency;
6. Investments may be made only in those savings banks or savings and loan
associations the shares, or investment certificates of which are insured by the
Federal Deposit Insurance Corporation;
7. Investment products that are considered as derivatives are specifically ex-
cluded from approved investments.
The breakdown of all security types held by the City is shown graphically in the attached document
titled Investment Portfolio – Diversification, by Security Type.
The investment policy also requires that all investment maturities shall not extend beyond ten (10)
years with no more than 20% maturing beyond five (5) years.
Change
from one
9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 year prior
Market Value 13,941,365 14,313,568 12,699,977 20,061,417 18,176,651 4,235,286
111110
2.05% 3.47% 4.31% 4.71% 4.89%2.84%
Fixed Income Assets
33,273,875 33,197,884 33,936,884 33,902,781 33,750,838 476,963
31,173,111 31,188,237 32,121,659 31,899,550 31,752,611 579,500
938 917 865 853 903 (35)
831 849 826 806 844 13
1.85% 1.98% 2.06% 2.16% 2.37%0.52%
Total Portfolio Value
47,215,240 47,511,452 46,636,861 53,964,198 51,927,490 4,712,250
45,114,476 45,501,805 44,821,636 51,960,967 49,929,262 4,814,786
145,337 112,064 164,251 116,519 170,756 25,419
2,100,764 -2,009,647 -1,815,225 -2,003,232 -1,998,228 102,536
661 640 630 536 587 (74)
586 593 601 506 549 (37)
1.91% 2.43% 2.67% 3.11% 3.25% 1.34%
BENCHMARK
90 Day T-Bill 3.33% 4.42% 4.85% 5.43% 5.55% 2.22%
3.92% 4.69% 4.97%5.47% 5.53% 1.61%
4.05% 4.76% 4.94%5.40% 5.46% 1.41%
Weighted Average Yield
to Maturity @ Cost
6 Month Treasury
1 Year Treasury
Cost Value
Market Value
Accrued Interest
Unrealized Gain / Loss
WAM (1) in Days
WAM / Callable (1) in Days
Weighted Average Yield to
Maturity @ Cost
CITY OF PRIOR LAKE, MINNESOTA
Quarterly Investment Report
September 30, 2023
Local Government
Investment Pools /
Money Market
Quarterly
WAM (1) in Days
Weighted Average Yield to
Maturity
Cost Value
Market Value
WAM (1) in Days
WAM / Callable (1) in Days
City of Prior Lake - Quarterly Investment Report
City of Prior Lake
Distribution
Group By: Security Type
Average By: Cost Value
Portfolio / Report Group: All Portfolios
As of: 9/30/2023
Cash 0.000 1,589,869.19 1 3.06
Certificate Of Deposit 3.111 14,893,894.24 943 28.68
FFCB Bond 0.890 2,070,383.00 906 3.99
FHLB Bond 1.103 2,659,016.67 1,041 5.12
FHLMC Bond 0.500 200,000.00 436 0.39
Local Government Investment Pool 5.359 16,586,782.05 1 31.94
Municipal Bond 2.058 13,194,001.40 793 25.41
Treasury Note 2.131 733,543.00 1,228 1.41
TOTAL / AVERAGE 3.251 51,927,489.55 581 100
Security Type YTM @ Cost Cost Value Days To Maturity % of Portfolio
City of Prior Lake
Distribution
Group By: Maturity Range
Average By: Cost Value
Portfolio / Report Group: All Portfolios
As of: 9/30/2023
0-1 Month 4.730 19,389,362.24 2 37.34
1-3 Months 2.799 1,832,921.20 64 3.53
3-6 Months 0.570 216,380.00 124 0.42
6-9 Months 1.801 1,363,229.40 229 2.63
9-12 Months 2.047 2,937,925.00 328 5.66
1-2 Years 1.689 6,889,516.00 538 13.27
2-3 Years 1.250 5,337,699.45 893 10.28
3-4 Years 2.555 8,359,292.31 1,262 16.10
4-5 Years 4.168 4,740,476.10 1,685 9.13
5-10 Years 4.614 860,687.85 1,970 1.66
TOTAL / AVERAGE 3.251 51,927,489.55 581 100
Maturity Range YTM @ Cost Cost Value Days To Maturity % of Portfolio
Description CUSIP/Ticker Settlement Date YTM @ Cost Face Amount/Shares Cost Value Book Value Market Value Maturity Date Days To Maturity Accrued Interest % of Portfolio
Cash - Northland Securities Cash CASH5845 2/3/2002 0.000 115,378.38 115,378.38 115,378.38 115,378.38 N/A 1 0.22
Morgan Stanley Cash CASH5089 12/31/2010 0.000 839,707.99 839,707.99 839,707.99 839,707.99 N/A 1 1.62
Oppenheimer Cash MM9905 12/27/2011 0.000 634,782.82 634,782.82 634,782.82 634,782.82 N/A 1 1.22
Sub Total / Average Cash 0.000 1,589,869.19 1,589,869.19 1,589,869.19 1,589,869.19 1 0.00 3.06
1st Security Bk of Wash 4.05 6/16/2026 33625CFL8 12/16/2022 4.050 249,000.00 249,000.00 249,000.00 240,235.20 6/16/2026 990 386.80 0.48
Ally Bk Sandy UT 3.4 8/4/2025 02007GXF5 8/4/2022 3.400 245,000.00 245,000.00 245,000.00 235,618.95 8/4/2025 674 1,300.85 0.47
Amerant Bank 4.65 9/8/2028 02357QCF2 9/8/2023 4.650 249,000.00 249,000.00 249,000.00 242,003.10 9/8/2028 1,805 697.88 0.48
American Express Natl 3 5/4/2027 02589ACK6 4/30/2022 3.000 245,000.00 245,000.00 245,000.00 226,688.70 5/4/2027 1,312 3,000.41 0.47
Banc Calif Irvine 3.2 7/1/2024 05961SNS9 6/29/2022 3.200 245,000.00 245,000.00 245,000.00 240,663.50 7/1/2024 275 1,997.59 0.47
Bank Baroda New York 3.55 11/30/2023 06062R-7R-7 11/30/2018 3.550 245,000.00 245,000.00 245,000.00 244,186.60 11/30/2023 61 2,899.17 0.47
Bank Hapoalim 0.95 7/23/2026 06251A2Y5 7/23/2021 0.950 245,000.00 245,000.00 245,000.00 216,653.50 7/23/2026 1,027 439.99 0.47
Bank of Belleville 4 6/15/2027 06063PDD4 12/15/2022 4.000 249,000.00 249,000.00 249,000.00 238,168.50 6/15/2027 1,354 409.32 0.48
Bankers Bank West Denver CO 1.8 9/30/2024 06610T-EE-1 9/30/2019 1.800 245,000.00 245,000.00 245,000.00 235,709.60 9/30/2024 366 0.00 0.47
BankUnited Savings Miami 0.95 3/31/2026 066519QT9 3/31/2021 0.950 245,000.00 245,000.00 245,000.00 219,110.85 3/31/2026 913 0.00 0.47
BMW Bk 4.75 3/17/2028 055180AW83 3/17/2023 4.750 245,000.00 245,000.00 245,000.00 239,945.65 3/17/2028 1,630 414.49 0.47
BNY Mellon4.5 9/7/2028 05584CJJ6 9/7/2023 4.500 244,000.00 244,000.00 244,000.00 235,606.40 9/7/2028 1,804 691.89 0.47
Bridgewater Bk 4.8 3/29/2028 108622NK3 3/29/2023 4.800 245,000.00 245,000.00 245,000.00 240,349.90 3/29/2028 1,642 32.22 0.47
CalPrivate Bk La Jolla 4 9/23/2027-23 13135NAS9 9/28/2022 4.400 249,000.00 244,545.39 245,443.16 237,844.80 9/23/2027 1,454 193.67 0.48
Capital One Bk USA Natl 1.8 3/17/2025 14042TEM5 3/16/2022 1.800 245,000.00 245,000.00 245,000.00 231,868.00 3/17/2025 534 169.15 0.47
Capital One Nat'l Assn McLean 2.1 8/14/2024 14042RMW8 8/14/2019 2.100 247,000.00 247,000.00 247,000.00 239,535.66 8/14/2024 319 667.92 0.48
Celtic Bank 4.6 9/19/2028 15118RJ32 9/19/2023 4.600 249,000.00 249,000.00 249,000.00 241,405.50 9/19/2028 1,816 345.19 0.48
Central Fed Savings 4.5 9/14/2028 15347VAC5 9/14/2023 4.500 249,000.00 249,000.00 249,000.00 240,334.80 9/14/2028 1,811 491.18 0.48
Charles Schwab Bank 4.7 11/21/2023 159877UAC2 11/21/2022 4.700 238,000.00 238,000.00 238,000.00 237,666.80 11/21/2023 52 9,592.38 0.46
CIBC Bank USA 4.5 5/25/2028 12547CBN7 5/25/2023 4.500 244,000.00 244,000.00 244,000.00 236,167.60 5/25/2028 1,699 3,850.52 0.47
City Natl Bk Los Ang 4.9 11/24/2025 178180GS8 11/23/2022 4.900 245,000.00 245,000.00 245,000.00 241,783.15 11/24/2025 786 4,275.75 0.47
Discover Bk 4.5 7/24/2028 2546736R2 7/26/2023 4.500 244,000.00 244,000.00 244,000.00 235,850.40 7/24/2028 1,759 1,985.42 0.47
Enerbank USA 0.55 9/25/2025 29278TRL6 9/25/2020 0.550 245,000.00 245,000.00 245,000.00 221,845.05 9/25/2025 726 18.46 0.47
Enterprise Bank & Trust 1.8 11/8/2024 29367SJQ8 11/8/2019 1.800 245,000.00 245,000.00 245,000.00 234,795.75 11/8/2024 405 265.81 0.47
Enterprise Bank Allison Park PA 1.8 9/27/2024 29367R-LA-2 9/27/2019 1.800 245,000.00 245,000.00 245,000.00 235,841.90 9/27/2024 363 36.25 0.47
First Bank of the Lake 4.9 4/25/2028-24 31925YAE2 4/25/2023 4.900 248,000.00 248,000.00 248,000.00 244,255.20 4/25/2028 1,669 166.47 0.48
First Commercial Bank MS 0.3 3/31/2025 31984GFK0 3/7/2022 1.700 225,000.00 215,588.25 220,394.97 207,720.00 3/31/2025 548 0.00 0.43
First Finl Bk3.3 8/2/2027 32022RSG3 8/1/2022 3.300 245,000.00 245,000.00 245,000.00 228,217.50 8/2/2027 1,402 642.37 0.47
First Natl Bank of Albany 1.6 2/28/2025 32117WAN2 2/28/2020 1.600 245,000.00 245,000.00 245,000.00 231,547.05 2/28/2025 517 21.48 0.47
First Utd Bk4.4 8/8/2025 33742CCR6 2/8/2023 4.400 245,000.00 245,000.00 245,000.00 239,835.40 8/8/2025 678 649.75 0.47
Goldman Sachs Bk 1 7/28/2026 38149MXK4 7/28/2021 1.000 245,000.00 245,000.00 245,000.00 216,425.65 7/28/2026 1,032 429.59 0.47
Legacy Bk & Tr Co 3.5 7/29/2027-22 52470QBK9 8/1/2022 3.500 245,000.00 245,000.00 245,000.00 229,947.20 7/29/2027 1,398 23.49 0.47
Live Oak Bkg Co 3.55 8/2/2027-23 538036WY6 8/2/2022 3.550 249,000.00 249,000.00 249,000.00 234,114.78 8/2/2027 1,402 678.10 0.48
Luana Savings Bank 0.2 5/7/2024 549104XH5 11/22/2021 0.699 240,000.00 237,081.60 239,284.23 232,464.00 5/7/2024 220 192.00 0.46
Manufacturers 4.9 12/9/2024 564759RJ9 12/7/2022 4.900 245,000.00 245,000.00 245,000.00 242,807.25 12/9/2024 436 3,782.40 0.47
Medallion Bk Salt 4.4 7/31/2028 58404DSW2 7/31/2023 4.400 245,000.00 245,000.00 245,000.00 235,694.90 7/31/2028 1,766 0.00 0.47
Morgan Stanley Bank Step 11/28/2027 61765QP52 9/2/2021 1.004 249,000.00 249,000.00 249,000.00 209,857.20 11/28/2027 1,520 225.12 0.48
MS Private Bank 3.55 11/8/2023 61760ARS0 11/8/2018 3.550 245,000.00 245,000.00 245,000.00 244,463.45 11/8/2023 39 3,455.17 0.47
National Cooperative Bank3.4 12/21/2023 635573AL2 12/24/2018 3.400 245,000.00 245,000.00 245,000.00 243,824.00 12/21/2023 82 2,305.01 0.47
Oceanfirst Bk Natl 3.25 7/1/2024 67523TBE2 6/29/2022 3.250 245,000.00 245,000.00 245,000.00 240,759.05 7/1/2024 275 2,028.80 0.47
Ponce De Leon Fed Bk 3.5 9/15/2027 732329BD8 9/15/2022 3.500 245,000.00 245,000.00 245,000.00 229,650.75 9/15/2027 1,446 352.40 0.47
Preferred Bank LA Calif 1.95 8/30/2024 740367HR1 8/30/2019 1.950 249,000.00 249,000.00 249,000.00 240,723.24 8/30/2024 335 0.00 0.48
Sallie Mae Bank Utah 1.9 9/18/2024 7954504D4 9/18/2019 1.900 245,000.00 245,000.00 245,000.00 236,314.75 9/18/2024 354 153.04 0.47
Savibank 4.05 1/19/2027 80517LAC5 1/18/2023 4.050 249,000.00 249,000.00 249,000.00 239,214.30 1/19/2027 1,207 331.55 0.48
Schuyler Svgs Bk 4.35 7/27/2028 80832MAA5 7/27/2023 4.350 244,000.00 244,000.00 244,000.00 234,288.80 7/27/2028 1,762 1,890.16 0.47
Signature Bk New York 4.7 12/9/2024 82669GFM1 12/9/2022 4.700 240,000.00 240,000.00 240,000.00 237,302.40 12/9/2024 436 3,492.16 0.46
Spring Bank3.25 10/24/2023 849430AY9 10/24/2018 3.250 245,000.00 245,000.00 245,000.00 244,632.50 10/24/2023 24 130.89 0.47
State Bk India New York 0.65 12/29/2023 856285A92 12/29/2021 0.650 245,000.00 245,000.00 245,000.00 242,062.45 12/29/2023 90 405.76 0.47
Synchrony Bank 0.9 8/6/2026 87165GD58 8/6/2021 0.900 248,000.00 248,000.00 248,000.00 219,529.60 8/6/2026 1,041 336.33 0.48
Texas Exchange Bk 0.45 8/21/2024 88241TJE1 8/21/2020 0.450 245,000.00 245,000.00 245,000.00 233,894.15 8/21/2024 326 27.18 0.47
Third Fed Sav & Ln 3.3 8/19/2027 88413QDN5 8/19/2022 3.300 245,000.00 245,000.00 245,000.00 228,217.50 8/19/2027 1,419 930.33 0.47
Toyota Finl Svgs Bk 0.95 7/15/2026 89235MLC3 7/15/2021 0.950 245,000.00 245,000.00 245,000.00 216,834.80 7/15/2026 1,019 491.01 0.47
Transportation Alliance Bk 4.8 9/9/2024 89388CGG7 12/9/2022 4.800 240,000.00 240,000.00 240,000.00 238,063.20 9/9/2024 345 662.79 0.46
UBS Bk USA 4.4 7/26/2028 90355GEX0 7/26/2023 4.400 245,000.00 245,000.00 245,000.00 235,721.85 7/26/2028 1,761 118.14 0.47
Uinta Bk Mtn 4.4 3/22/2028 903572FT7 3/22/2023 4.400 245,000.00 245,000.00 245,000.00 236,471.55 3/22/2028 1,635 236.27 0.47
Univest Bank & Trust 4.5 6/21/2028 91527PCD7 6/21/2023 4.500 249,000.00 249,000.00 249,000.00 246,808.80 6/21/2028 1,726 276.29 0.48
Valley Central 4 4/28/2028 91944RAZ1 4/28/2023 4.000 249,000.00 249,000.00 249,000.00 236,052.00 4/28/2028 1,672 54.58 0.48
Washington Federal 1.95 8/28/2024 938828BN9 8/28/2019 1.950 245,000.00 245,000.00 245,000.00 236,890.50 8/28/2024 333 26.18 0.47
Webbank 0.4 10/30/2023-22 947547NL5 11/8/2021 0.449 245,000.00 244,755.00 244,989.81 243,946.50 10/30/2023 30 2.68 0.47
Wells Fargo BK NA Sioux Falls 2.75 5/17/2024 949763-B6-2 6/11/2019 2.650 200,000.00 200,924.00 200,117.94 196,542.00 5/17/2024 230 195.89 0.38
Winter Hill Bank 3.5 8/26/2027-23 975875BH7 8/26/2022 3.500 245,000.00 245,000.00 245,000.00 229,810.00 8/26/2027 1,426 93.97 0.47
Sub Total / Average Certificate Of Deposit 3.110 14,910,000.00 14,893,894.24 14,901,230.11 14,274,784.13 942 58,969.66 28.70
FFCB 0.69 7/22/2025-21 3133ELX33 4/15/2021 0.750 600,000.00 598,488.00 599,358.93 552,420.00 7/22/2025 661 782.00 1.15
FFCB 0.72 10/27/2026-21 3133EMES7 6/18/2021 1.000 500,000.00 492,715.00 495,819.59 438,350.00 10/27/2026 1,123 1,530.00 0.96
FFCB 0.74 11/24/2026-21 3133EMHC9 4/14/2021 1.053 450,000.00 442,350.00 445,704.80 393,457.50 11/24/2026 1,151 1,165.50 0.87
FFCB 2.62 11/17/2025 3133EHJR5 9/24/2021 0.810 500,000.00 536,830.00 518,937.67 475,000.00 11/17/2025 779 4,839.72 0.96
Sub Total / Average FFCB Bond 0.892 2,050,000.00 2,070,383.00 2,059,820.99 1,859,227.50 910 8,317.22 3.95
FHLB 1 12/30/2026-21 3130ANY87 10/20/2021 1.205 500,000.00 494,850.00 496,777.52 439,450.00 12/30/2026 1,187 1,250.00 0.96
FHLB 1.25 11/10/2026-22 3130APLR4 11/10/2021 1.250 450,000.00 450,000.00 450,000.00 400,572.00 11/10/2026 1,137 2,187.50 0.87
FHLB Step 12/15/2025-21 3130AKJ72 4/13/2021 0.894 500,000.00 497,500.00 498,818.10 458,625.00 12/15/2025 807 802.08 0.96
FHLN 5159508 1.25 10/16/2026-21 3130ALW83 4/16/2021 1.250 216,666.67 216,666.67 216,666.67 193,375.00 10/16/2026 1,112 1,233.80 0.42
FHLN 5214149 Step 7/22/2026-21 3130AN4W7 7/22/2021 1.057 1,000,000.00 1,000,000.00 1,000,000.00 902,980.00 7/22/2026 1,026 2,266.67 1.92
Sub Total / Average FHLB Bond 1.103 2,666,666.67 2,659,016.67 2,662,262.29 2,395,002.00 1,041 7,740.05 5.13
City of Prior Lake
Portfolio Holdings
Investment Portfolio - by Security Type
As of 9/30/2023
Cash
Certificate Of Deposit
FFCB Bond
FHLB Bond
Description CUSIP/Ticker Settlement Date YTM @ Cost Face Amount/Shares Cost Value Book Value Market Value Maturity Date Days To Maturity Accrued Interest % of Portfolio
City of Prior Lake
Portfolio Holdings
Investment Portfolio - by Security Type
As of 9/30/2023
FHLMC 0.5 12/9/2024 3134GWA71 9/9/2020 0.500 200,000.00 200,000.00 200,000.00 188,516.00 12/9/2024 436 308.33 0.38
Sub Total / Average FHLMC Bond 0.500 200,000.00 200,000.00 200,000.00 188,516.00 436 308.33 0.38
League of Minnesota Cities - 4M Fund LGIP LGIP5101M 11/30/2010 5.313 2,603,616.72 2,603,616.72 2,603,616.72 2,603,616.72 N/A 1 5.01
League of Minnesota Cities - 4M Plus Fund LGIP LGIP5101MP 11/30/2010 5.368 13,983,165.33 13,983,165.33 13,983,165.33 13,983,165.33 N/A 1 26.91
Sub Total / Average Local Government Investment Pool 5.359 16,586,782.05 16,586,782.05 16,586,782.05 16,586,782.05 1 0.00 31.92
Allen Park MI Public Sch Dist 2 11/2/2024 018033HR4 7/30/2020 0.751 290,000.00 305,140.90 293,882.53 279,241.00 11/2/2024 399 2,400.56 0.56
Cabot-Las Positas 1.287 8/1/2027 15722TJS1 4/28/2022 3.500 550,000.00 491,991.50 507,693.96 477,966.50 8/1/2027 1,401 1,160.09 1.06
Canadian Cnty Okla Indpt Sch Dist 2 11/1/2024 135537-GT-9 11/7/2019 2.000 285,000.00 285,000.00 285,000.00 274,232.70 11/1/2024 398 2,359.17 0.55
Cecil Cnty MD 1.05 11/1/2026 1498433N2 9/23/2021 0.970 500,000.00 501,985.00 501,200.58 442,060.00 11/1/2026 1,128 2,172.92 0.96
Central Cmnty Sch 2 3/1/2026 153135FJ2 3/4/2021 0.700 300,000.00 319,098.00 309,250.43 277,623.00 3/1/2026 883 483.33 0.58
Edgewood Ohio City 5 12/1/2023 280455ET9 12/19/2019 2.101 215,000.00 238,512.40 216,010.23 214,744.15 12/1/2023 62 3,553.47 0.41
El Paso TX ISD 0 8/15/2024 283770NS0 10/30/2020 0.700 500,000.00 486,925.00 496,979.06 477,050.00 8/15/2024 320 0.00 0.96
Enfield Conn Taxable 1.39 8/1/2027 292749UK2 4/6/2022 3.000 335,000.00 308,658.95 316,006.79 291,778.30 8/1/2027 1,401 763.15 0.64
Falmouth ME Taxable 3 10/15/2025 306783NF4 10/15/2021 0.800 340,000.00 369,386.20 355,004.86 325,437.80 10/15/2025 746 4,675.00 0.65
Federal Way Wash2.2 12/1/2024 314031-HH-1 12/11/2019 2.150 475,000.00 476,111.50 475,261.82 457,363.25 12/1/2024 428 3,454.31 0.91
Goose Creek Tex 4.5 2/15/2027 382604Z25 11/3/2022 4.700 500,000.00 496,125.00 496,944.57 491,230.00 2/15/2027 1,234 2,812.50 0.96
Hawaii St GO Ref 2.802 10/1/2027-26 419792KL9 7/28/2022 3.350 100,000.00 97,413.00 97,999.90 91,926.00 10/1/2027 1,462 1,393.22 0.19
Hawaii St Taxable 1.033 8/1/2025 419792F92 10/12/2021 0.950 300,000.00 300,924.00 300,446.37 277,578.00 8/1/2025 671 507.89 0.58
Indiana Bond Bank 3.326 7/15/2025 45462TER9 3/26/2021 0.900 240,000.00 264,516.00 250,199.40 231,384.00 7/15/2025 654 1,663.00 0.46
Liberty Center Ohio 0 11/1/2025 530336DV5 8/18/2020 1.051 215,000.00 203,589.95 210,420.37 192,339.00 11/1/2025 763 0.00 0.41
Mankato Minn ISD 0.7 2/1/2025 563690RP3 10/22/2020 0.700 300,000.00 300,000.00 300,000.00 281,445.00 2/1/2025 490 344.17 0.58
Mason & Kitsap Cntys 1.583 12/1/2028 575181HB1 5/19/2023 4.150 445,000.00 389,032.35 392,739.55 372,914.45 12/1/2028 1,889 2,328.55 0.86
Massachusetts St 0.986 11/1/2026 57582RK96 6/30/2021 1.000 500,000.00 499,635.00 499,788.86 440,900.00 11/1/2026 1,128 2,040.47 0.96
Massachusetts St Dev 2.785 5/1/2024 57584FEM8 12/20/2019 1.920 240,000.00 248,647.20 241,160.92 235,968.00 5/1/2024 214 2,766.43 0.46
Milwaukee Cnty Wis 2 12/1/2026 6022453V2 11/23/2021 1.300 500,000.00 516,960.00 510,708.66 453,045.00 12/1/2026 1,158 3,305.56 0.96
New York NY 1.92 11/1/2029 64971XUUO 9/25/2023 5.150 275,000.00 228,998.00 229,101.19 226,715.50 11/1/2029 2,224 2,185.33 0.53
New York State TFA 4.2 11/1/2028-23 64971Q7N7 9/7/2023 4.850 250,000.00 242,657.50 242,747.23 238,475.00 11/1/2028 1,859 4,345.83 0.48
Northwest Local Sch District Hamilton & Butler 667712CF8 11/15/2019 2.069 360,000.00 376,408.80 360,688.79 358,614.00 12/1/2023 62 3,867.50 0.69
Northwest Local Sch District Hamilton & Butler 667712CG6 11/15/2019 2.169 370,000.00 389,010.60 374,414.83 360,446.60 12/1/2024 428 3,974.93 0.71
Oak Creek WIS 4 10/1/2023 671137-YP-6 11/27/2018 3.402 280,000.00 287,434.00 280,004.20 280,000.00 10/1/2023 1 5,568.89 0.54
Oklahoma Cnty Okla Metro 2.65 6/1/2024 67869T-AD-7 7/15/2019 2.286 500,000.00 508,255.00 501,134.31 490,315.00 6/1/2024 245 4,379.86 0.96
Orono ME Taxable 5 11/1/2025 687085DR8 10/29/2020 1.000 330,000.00 394,287.30 356,818.59 327,109.20 11/1/2025 763 6,829.17 0.64
Pelican Rapids Minn 0.8 2/1/2025 705863HR2 12/17/2020 0.700 525,000.00 527,126.25 525,691.35 494,014.50 2/1/2025 490 688.33 1.01
Pennsylvania St Univ 1.645 9/1/2025 709235S48 12/6/2021 1.120 250,000.00 254,787.50 252,462.14 233,475.00 9/1/2025 702 331.28 0.48
Rhode IS Infrastructure Bk 2.18 10/1/2023 7622FDD7 6/27/2019 2.151 435,000.00 435,522.00 435,000.34 435,000.00 10/1/2023 1 4,715.16 0.84
Richfield Minn ISD 3 2/1/2024 763342SZ6 9/4/2020 0.570 200,000.00 216,380.00 201,631.42 198,272.00 2/1/2024 124 983.33 0.38
Roanoke VA Taxable 2 2/1/2025 770078BD4 5/14/2020 1.250 300,000.00 310,266.00 302,917.83 286,731.00 2/1/2025 490 983.33 0.58
Springboro Ohio 5 12/1/2027 85023MAF2 7/12/2022 4.002 245,000.00 256,755.10 254,097.06 243,882.80 12/1/2027 1,523 4,049.31 0.47
St Louis Park Minn 4.5 2/1/2027 791740V34 9/7/2022 3.345 190,000.00 198,863.50 196,724.79 185,656.60 2/1/2027 1,220 1,401.25 0.37
Toledo Ohio City Sch 5 12/1/2027 889294RT3 9/28/2022 4.520 100,000.00 102,186.00 101,761.52 98,955.00 12/1/2027 1,523 1,652.78 0.19
Trussville AL 0.822 10/1/2025 898242ND0 8/25/2020 0.710 300,000.00 301,677.00 300,658.92 273,840.00 10/1/2025 732 1,226.15 0.58
Waukesha Wis 1.2 10/1/2027 943080UZ2 9/1/2022 3.660 375,000.00 332,557.50 341,567.38 322,380.00 10/1/2027 1,462 2,237.50 0.72
Wauwatosa WI 3 12/1/2024-22 9435042U3 10/28/2021 2.014 200,000.00 205,880.00 202,227.12 194,520.00 12/1/2024 428 1,983.33 0.38
Wicomico Cnty MD 2 12/1/2026 967546BA9 5/13/2022 3.450 380,000.00 356,975.80 363,967.51 346,905.80 12/1/2026 1,158 2,512.22 0.73
Wisconsin St Gen Fund 2.877 5/1/2024 977100EA0 12/2/2021 0.700 160,000.00 168,321.60 162,021.36 157,584.00 5/1/2024 214 1,905.21 0.31
Sub Total / Average Municipal Bond 2.109 13,155,000.00 13,194,001.40 13,042,336.74 12,339,118.15 815 94,004.48 25.32
T-Note 0.375 11/30/2025 91282CAZ4 9/24/2021 0.780 300,000.00 295,008.00 297,412.52 271,863.00 11/30/2025 792 375.00 0.58
T-Note 0.625 11/30/2027 91282CAY7 5/5/2022 3.040 500,000.00 438,535.00 454,029.62 424,100.00 11/30/2027 1,522 1,041.67 0.96
Sub Total / Average Treasury Note 2.193 800,000.00 733,543.00 751,442.14 695,963.00 1,248 1,416.67 1.54
Total / Average 3.265 51,958,317.91 51,927,489.55 51,793,743.51 49,929,262.02 587 170,756.41 100
Local Government Investment Pool
Municipal Bond
Treasury Note
FHLMC Bond