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el rum,. THE CITY OF pLEASA\TON® CITY OF PLEASANTON INVESTMENT ACTIVITY SUMMARY AND ANALYSIS AS OF SEPTEMBER 30, 2019 SUMMARY: Primary City Managed Investment Portfolio The City of Pleasanton General investment portfolio decreased by $20.007,238 during the quarter July 1, 2019 to September 30, 2019. from $215,278,370 on June 30, 2019 to $195,271,132 on September 30, 2019. The City receives two significant property tax installments in April and December. These installments are invested in securities or deposited into the Local Agency Investment Fund (LAIF) when received. During the quarter ending September 30, 2019 withdrawals from LAIF and investment maturities were used to cover operating expenses, decreasing the General investment portfolio balance. For the quarter ending September 30, 2019, the effective rate of return on the portfolio was 1.93%. The average days to maturity (ADM) increased from 744 days on June 30, 2019 to 844 days on September 30, 2019. As described in this report, the City's investment in the LAIF decreased to $15.0 million from $25.5 million mainly due to taking advantage of the longer-term agencies in order to increase ADM. The quarterly LAIF interest rate was 2.28% with ADM of 185 days. During the quarter approximately $33.3 million in securities matured or called and with a mix of these either funding operating costs or being reinvested into Agencies and Corporates at the market rate. The yields on the newly added investments ranged from 1.90% to 2.55%. As of September 30, 2019, approximately 71.2% of the total portfolio consisted of U.S Treasuries and agency securities, while the LAIF investment was 7.68% of the portfolio. Corporate notes accounted for 20.47% of the portfolio. • Fair Market Value of total portfolio - $196,635,693 • Effective rate of return — 2.18% • Weighted average days to maturity — 844 days • Fiscal year-to-date net interest earnings — $1,103,674