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THE CITY OF pLEASANTON. CITY OF PLEASANTON INVESTMENT ACTIVITY SUMMARY AND ANALYSIS AS OF SEPTEMBER 30, 2017 SUMMARY: The City of Pleasanton investment portfolio decreased by $14,439,520 during the First quarter of FY 2017-18, from $201,834,361 on June 30, 2017 to $187,394,841 on September 30, 2017. For the quarter ending the yield to maturity on the portfolio was 1.19%, an increase from 1.14% reported for the quarter ended June 30, 2017. The average days to maturity (ADM) decreased from 489 days on June 30, 2017 to 470 days on September 30, 2017. As described in this report, the City reduced its investment in the Local Agency Investment Fund (LAIF) from $35 million to $28 million. LAIF is a short term investment option available to local agencies in California administered by the State Treasurer's Office. The quarterly LAIF interest rate was 1.08% and its ADM was 190 days. City staff reduced the exposure by $7 million in LAIF during the quarter mainly due to the cash flow needs during this quarter of lower revenues compared to quarters wherein Property taxes that are received such as April and December. During the quarter approximately $9.2 million in securities matured and $3.5 Million were called by issuers. Approximately $ 5.2 million of these maturities were reinvested into higher yielding investments as the yields fluctuated with a higher degree of volatility during the quarter with the Fed making it clear that it would be aggressively raising interest rates in the coming periods. The interest rates yields on the newly added investments ranged from 2.0% to 2.3%. As of September 30th 2017 approximately 80.66% of the total portfolio consisted of U.S Treasuries and agency securities. • Fair Market Value of total portfolio - $186,764,765.29 e Yield to maturity— 1.19% e Weighted average days to maturity—470 days e Fiscal year-to-date net interest earnings—$ 586,762.25