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City of Huntington Beach Quarterly Treasurer’s Report

Gain insights into the economic status of Huntington Beach as of March 31, 2019. Explore investment portfolios, market value, and compliance with investment policies.

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City of Huntington Beach Quarterly Treasurer’s Report

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  1. City of Huntington Beach Quarterly Treasurer’s Report Quarter Ending: March 31, 2019 Prepared by: Alisa Backstrom, CCMT, CPFIM, City Treasurer

  2. Economic and Market Overview - At 3/31/19 • 12-month Inflation Rate (PCE): 1.8% • Unemployment stable at 3.8% • Federal Reserve maintained interest rates: Fed Funds 2.25%-2.50% • Equity Market Volatility • 12/31/183/31/19% Chg • DJIA: 23,327 25,929 11.2% • S&P: 2,506 2,834 13.1%

  3. Interest Rates – 2-year/5-year/10-year Treasury 10-year 5-year 2-year

  4. Governed by: • CA State Regulations • City’s Investment Policy - √ Certified by CMTA • Goal: Legal/Suitable Investments • Safety • Liquidity • Market rate of return through budgetary and economic cycles Treasurer’s Mission: Preservation and Return OF Investments

  5. Investment Type / Market Value: • Federal Agencies - $145.3MM • Corporate Bonds - $47.3MM • Treasury Securities - $14.9MM • Commercial Paper - $3.0MM • LAIF - $12.3MM • IADB - $16.1MM TOTAL PORTFOLIO: $238.9MM Portfolio Summary As of 3/31/19

  6. Comm’l Paper 1% Corp Bonds 18% Investments by Type As of March 31, 2019 IADB 3% Federal Agencies 64% Treasuries 7% LAIF 7%

  7. Monthly Portfolio Earnings – April 2018 to March 2019 $ in 000’s

  8. Current Year - Month March, 2019: $433,089 52% vs. last year: $284,508 Current Year - Fiscal YTD Through 3/31/19:$3,159,838 38% vs. last year: $2,294,176 Effective Rate of Return March, 2019: 2.13% Benchmark*: 2.52% *12mo. moving avg. interpolated 1.5YR CMT Notes Flattening of yield curve As securities mature, reinvest at higher rates Portfolio Earnings - As of March 31, 2019

  9. Compliance Selected Investment Policy Requirements: Investment Type Max. Maturity Max. % of Portfolio Ratings Federal Agencies 5 yrs noneAAA/Aa IADB 5 yrs 10% AAA/Aaa Corporate Bonds 5 yrs 30% A or above Commercial Paper 270 days 25% A-1/P-1 LAIF n/a $65MM per n/a account • The portfolio is in compliance with all relevant State regulations and the City’s Investment Policy

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