FC - Item 4A - 2025-26 Qtrly Investment Report to Council - September 2025 - FinalCITY OF ROSEMEAD
Finance Department
MEMORANDUM
TO: Honorable Mayor and Members of the City Council
FROM: Bryan Chua, Assistant City Manager/Finance Director/City Treasurer
DATE: October 29, 2025
SUBJECT: QUARTERLY CASH AND INVESTMENT REPORT – SEPTEMBER 2025
OVERVIEW
Both the Rosemead Municipal Code (§2.36.040) and the officially adopted Annual Investment
Policy mandate the submission of quarterly reports on invested cash to the City Council.
According to Section V of the City of Rosemead Investment Policy, which the City Council
approved on June 10, 2025, the Assistant City Manager/Finance Director is required to submit
quarterly investment reports to the City Council within 31 days after the end of each quarter. The
report should consist of a cover page (this memo), a graphical representation comparing the
portfolio's composition and maturity distribution, a list of individual investment transactions
made during the quarter, and specific details about each security. The City of Rosemead
Treasurer's Report for the first quarter of FY 2025-26 (September 30, 2025), which is included
here, satisfies the reporting obligation of the Investment Policy and the RMC.
According to Section 2.36 of the City's Municipal Code, the Investment Committee is required to
convene on a regular basis to assess the City's Investments. To fulfill this stipulation, the
Investment Committee convened on October 29, 2025, to receive a report on the current
condition of the City's cash and investments. The Committee endorsed the City of Rosemead
Treasurer's Report in its original form.
ANALYSIS
The City holds funds in multiple banks, maintains deposits in the Local Agency Investment Fund
(LAIF), and invests in Certificates of Deposit (CDs), U.S. securities/Agencies, Corporate Bonds, and
money market accounts. The attached report provides a comprehensive description of all items.
The cash stated in this report encompasses all funds within the City, including the Successor
Agency and the Housing Development Corporation. The City operates using a 'pooled cash'
system, where all funds are combined for banking and investment purposes, while still
maintaining separate ownership of the cash for each individual fund.
Cash and Investment Report – September 2025
October 29, 2025
Page 2 of 2
The invested portion of the portfolio totaled $82,001,021 for the quarter ending September
2025, reflecting a $6.1 million decrease from the prior quarter. The decline is primarily
attributable to the planned drawdown of funds from major revenue collections received earlier
in the year, most notably in January and May, to meet operating and capital funding
requirements. During the quarter, three Agency Securities matured, while two Certificates of
Deposit, two Agency Securities, and one Corporate Bond were redeemed, contributing to normal
portfolio turnover. The investments that were made included the purchase of eight Certificates
of Deposit and four Agency Securities. The investment activity is an ongoing process of
readjusting the portfolio in order to capitalize on the higher investment returns available in the
wider market for fixed income securities. The City's investment balance in actively managed fixed
income securities increased by 13%, or $3.7 million, from $27.9 million to $31.6 million between
September 30, 2024, and September 30, 2025. The average return rate increased from 4.18% to
4.25%, resulting in a 0.07% increase or 7 basis points. The aggregate amount of cash and
investments held by the banks on September 30, 2025, is $86,898,551, which is allocated as
follows:
The following chart provides a summary of the Invested Cash portfolio:
Non-invested cash accounts refer to the funds held in bank accounts that are used for paying
weekly accounts payable, bi-weekly payroll checks, and receiving City revenue. The balances in
these accounts are adjusted to ensure that they are sufficient to cover any outstanding checks
and upcoming expenses.
ATTACHMENT
Cash and Investment Report – Quarter Ending September 2025
Investment Type
Beginning
Balance
Deposits/
Purchases
Withdrawls/
Maturities Ending Balance
LAIF $ 56,676,046 574,178 7,000,000 $ 50,250,224
Certificates of Deposit 15,476,000 1,971,000 492,000 16,955,000
US Securities 7,860,000 1,765,000 1,625,000 8,000,000
Corporate Bonds 7,725,000 1,050,000 6,675,000
Money Market - Cantella 338,316 120,797
$ 88,075,363 4,310,178 10,167,000 $ 82,001,021
Total Cash and Investments
Cash Deposits $ 4,574,903
Cash with Fiscal Agent 322,628
Invested Cash 82,001,021
$ 86,898,551
Non-Invested Cash Accounts Bank
Statement
Amount Market Value
BANK OPERATING ACCOUNTS (1)
City - BMO - General Checking Account 3,688,883$ 3,688,883
City - BMO - Payroll Account 671,685 671,685
RHDC - Citizens - Angelus Operating 78,422 78,422
RHDC - Citizens - Angelus Deposit 17,008 17,008
RHDC - Citizens - Garvey Operating 83,242 83,242
RHDC - Citizens - Garvey Deposit 25,662 25,662
SA - BMO - General Checking Account 10,000 10,000
TOTAL OPERATING ACCOUNTS 4,574,903$ 4,574,903
Cash with Fiscal Agent Statement
Amount
Interest
Rate Market Value
2016 Subordinate Tax Allocation Refunding Bonds:
2016 Interest Account - U.S. Bank 322,628 varies 322,628
2016 Reserve Account - U.S. Bank (Non-cash Ins Policy)- --
TOTAL CASH WITH FISCAL AGENT 322,628$ 322,628
Investments Purchase
Date
Maturity
Date Original Cost Par Value
Interest
Rate
Estimated
Market Value
LOCAL AGENCY INVESTMENT FUND
L. A. I. F. (State of California)50,250,224 50,250,224$ 4.24%50,250,224
CERTIFICATES OF DEPOSIT
BMO Bank 05/09/2023 05/08/2026 244,004 244,000 4.60%244,976
Greenstate Credit Union 05/17/2023 05/18/2026 249,004 249,000 4.80%250,489
Alabama Credit Union 06/20/2023 06/22/2026 248,004 248,000 5.00%250,108
Austin Telco Federal Credit Union 11/28/2022 11/27/2026 248,006 248,000 5.05%251,623
Celtic Bank 12/19/2022 12/21/2026 249,006 249,000 4.20%250,340
M&T Bank Corporation 01/20/2023 01/20/2027 244,004 244,000 4.00%244,686
Texas Exchange Bank 02/24/2023 02/24/2027 248,004 248,000 4.10%249,257
Global Federal Credit Union 05/12/2023 05/12/2027 249,004 249,000 4.60%252,511
Capital One National Assoc VA 12/11/2024 08/03/2027 242,242 245,000 3.55%244,370
Chartway Federal CU 09/08/2023 09/08/2027 248,007 248,000 5.00%254,220
Connexus Credit Union 09/26/2023 09/27/2027 248,004 248,000 5.05%254,686
Ideal Cr Un Woodbury 12/29/2022 12/29/2027 249,004 249,000 4.50%253,582
Liberty First 02/03/2023 02/03/2028 249,004 249,000 4.35%252,932
Synchrony Bank 03/24/2023 03/24/2028 243,004 243,000 5.00%250,693
American Express National Bank 03/29/2023 03/29/2028 244,004 244,000 4.75%250,324
City National Bank 03/14/2024 03/31/2028 247,204 240,000 5.00%247,097
Pitney Bowes Bank 08/31/2023 04/13/2028 243,460 245,000 4.35%249,106
LIQUID
CITY OF ROSEMEAD
TREASURER'S QUARTERLY CASH and INVESTMENT REPORT
SCHEDULE OF CASH AND INVESTMENTS
As of September 30, 2025
(1) These are the actual bank account balances as of the end of the month.
September 2025 - Investment Report Page 1
CITY OF ROSEMEAD
TREASURER'S QUARTERLY CASH and INVESTMENT REPORT
SCHEDULE OF CASH AND INVESTMENTS
As of September 30, 2025
Investments (continued)Purchase
Date
Maturity
Date Original Cost Par Value
Interest
Rate
Estimated
Market Value
Morgan Stanley Bank NA 04/20/2023 04/20/2028 244,004 244,000 4.65%245,230
HSBC Bank USA 08/31/2023 04/21/2028 239,616 249,000 3.60%248,696
Univest National Bank 05/12/2023 05/12/2028 249,004 249,000 4.35%253,343
CIBC Bank USA 05/16/2023 05/16/2028 244,004 244,000 4.35%248,121
Numerica Credit Union 05/30/2023 05/30/2028 200,004 200,000 4.70%205,346
Thread Bank 06/16/2023 06/16/2028 249,004 249,000 4.40%258,694
Jefferson Credit Union 06/20/2023 06/20/2028 248,004 248,000 5.00%248,568
Bank of the Sierra 08/31/2023 08/18/2028 244,004 244,000 4.50%249,512
Freedom Northwest CU 09/19/2023 09/19/2028 Redeemed Redeemed Redeem Redeemed
Empower Credit Union 09/29/2023 09/29/2028 248,004 248,000 5.10%258,195
Dort Financial CU 10/10/2023 10/10/2028 246,004 246,000 5.00%255,454
Customers Bank 10/18/2024 10/18/2028 220,004 220,000 3.85%221,153
Utah First Federal CU 10/30/2023 10/30/2028 248,004 248,000 5.10%258,431
BMW Bank NA 11/08/2024 11/08/2028 245,004 245,000 4.00%247,303
San Francisco FCU 11/27/2024 11/27/2028 249,004 249,000 4.25%253,330
MS Private Bank 02/16/2024 02/16/2029 Redeemed Redeemed Redeem Redeemed
UBS Bank USA 02/28/2024 02/28/2029 249,004 249,000 4.20%253,051
Spur Security Bank 03/27/2024 03/12/2029 244,004 244,000 4.20%247,928
Morgantown B & T 03/22/2024 03/22/2029 249,004 249,000 4.15%252,670
First Foundation Bank 05/10/2024 05/10/2029 244,004 244,000 4.60%251,139
Toyota Financial Savings Bank 05/14/2024 05/14/2029 245,614 244,000 4.60%251,149
Cross River Bank 05/15/2024 05/15/2029 244,540 244,000 4.50%250,334
Farmers & Merchants Bank 05/21/2024 05/21/2029 248,004 248,000 4.50%254,629
Merchants Commercial Bank 05/21/2024 05/21/2029 248,004 248,000 4.50%254,629
Covantage CR UN Antigo 05/27/2025 05/29/2029 186,004 186,000 4.05%189,147
Beal Bank 06/05/2024 05/30/2029 240,004 240,000 4.70%247,970
Consumers FCU 08/27/2024 08/09/2029 248,004 248,000 3.80%248,575
Enterprise Bank 08/28/2024 08/28/2029 249,004 249,000 3.80%249,533
Merrick Bank 08/29/2024 08/29/2029 245,004 245,000 3.75%245,076
Altaone FCU 09/13/2024 09/13/2029 248,004 248,000 3.85%248,950
Bank of Hapoalim NY 09/18/2024 09/18/2029 245,004 245,000 3.80%245,446
Amerant Bank NA 09/20/2024 09/19/2029 247,209 245,000 3.75%244,280
United Community Bank 09/20/2024 09/20/2029 240,004 240,000 3.60%238,694
State Bank of IN 09/25/2024 09/25/2029 245,004 245,000 3.75%244,983
First Premier Bank 09/26/2024 09/26/2029 240,004 240,000 3.65%239,100
BNY Mellon Bank 09/27/2024 09/27/2029 245,004 245,000 3.45%242,278
First Business Bank WI 09/30/2024 09/28/2029 245,004 245,000 3.45%242,381
Sunwest Bank 09/28/2024 09/28/2029 245,004 245,000 3.45%242,298
Parkside Financial B&T 10/08/2024 10/09/2029 249,004 249,000 3.45%246,214
Malaga Bank FSB 10/16/2024 10/16/2029 249,004 249,000 3.50%246,667
EagleBank 10/25/2024 10/25/2029 220,004 220,000 3.75%220,000
September 2025 - Investment Report Page 2
CITY OF ROSEMEAD
TREASURER'S QUARTERLY CASH and INVESTMENT REPORT
SCHEDULE OF CASH AND INVESTMENTS
As of September 30, 2025
Investments (continued)Purchase
Date
Maturity
Date Original Cost Par Value
Interest
Rate
Estimated
Market Value
Third Federal S&L Bank 12/18/2024 12/18/2029 245,004 245,000 4.00%247,276
Sallie Mae Bank 12/19/2024 12/19/2029 134,004 134,000 4.10%135,763
First Bank of the Lake 02/18/2025 02/18/2030 249,004 249,000 4.20%253,522
Medallion BK Utah 06/17/2025 06/17/2030 249,004 249,000 4.15%253,320
Nicolet Natl Bk Green Bay WI 06/17/2025 06/17/2030 240,004 240,000 4.00%242,590
Poppy BK Santa Rosa Calif 06/17/2025 06/17/2030 240,004 240,000 4.00%242,482
Security First Bk Lincoln Neb 07/30/2025 07/30/2030 245,004 245,000 3.90%246,497
American Natl Bk Baxter Minn 07/31/2025 07/31/2030 249,004 249,000 3.85%250,098
Goldman Sachs Bk USA 08/05/2025 08/05/2030 240,004 240,000 3.85%240,946
Morgan Stanley Private Bk Natl 09/03/2025 09/03/2030 245,004 245,000 3.85%246,061
Optum Bk Draper Utah 09/15/2025 09/16/2030 245,004 245,000 3.70%244,505
First Natl Bk Amer East Lans 09/19/2025 09/16/2030 249,004 249,000 3.60%247,309
Institution For SGVS In Newbur 09/25/2025 09/25/2030 249,004 249,000 3.60%247,304
Access Bk Omaha Neb 09/30/2025 09/30/2030 249,004 249,000 3.50%246,164
Sub-Total 16,953,113 16,955,000$ 17,143,334
U.S. TREASURY/AGENCY SECURITIES
Federal Home Loan Bank 04/19/2023 07/18/2025 Matured Matured Matured Matured
Federal Home Loan Mtg Corp Mtn 08/16/2022 08/25/2025 Matured Matured Matured Matured
Federal Natl Mtg Assn Note 02/10/2023 08/28/2025 Matured Matured Matured Matured
Federal Home Loan Bank 11/16/2022 04/29/2026 480,006 500,000 3.00%497,530
Federal Home Ln Mtg Corp Note 11/30/2022 08/25/2027 Redeemed Redeemed Redeemed Redeemed
Federal Home Loan Bank 11/15/2022 09/14/2027 491,361 500,000 4.00%498,655
Federal Natl Mtg Assn Note 10/30/2024 04/17/2028 525,204 500,000 5.63%523,130
Federal Home Ln Mtg Corp Note 10/18/2023 07/18/2028 Redeemed Redeemed 5.00%Redeemed
Federal Agriculture Mortgage Corp 01/24/2024 11/28/2028 506,354 500,000 5.23%499,915
Federal Agriculture Mortgage Corp 02/08/2024 01/22/2029 499,214 500,000 4.04%504,755
Federal Home Loan Bank 04/05/2024 03/22/2029 563,028 560,000 4.75%566,905
Federal Home Loan Bank 05/31/2024 05/22/2029 160,373 160,000 5.13%160,845
Federal Agriculture Mortgage Corp 10/29/2024 06/12/2029 526,295 525,000 4.11%531,132
Federal, Home Loan BA SER El-9029 01/07/2025 12/10/2029 498,879 500,000 4.38%504,375
Federal, Home Loan BA SER RL-2029 01/14/2025 12/14/2029 485,004 485,000 4.50%498,032
Federal Farm Cr Bks Bond 03/24/2025 01/24/2030 450,004 450,000 4.00%452,732
Federal Home Loan Banks Bond 06/03/2025 03/08/2030 509,774 500,000 4.38%512,825
Federal Farm Cr Bks Bond 03/25/2025 03/18/2030 554,626 555,000 4.00%558,580
Federal Agriculture Mortgage Corp 07/08/2025 07/29/2030 344,614 345,000 3.85%346,991
Federal Agriculture Mortgage Corp 07/31/2025 07/29/2030 419,500 420,000 3.88%421,840
Tennesee Valley Auth Fed BE Bond 09/03/2025 08/01/2030 503,889 500,000 3.88%501,175
Federal Agriculture Mortgage Corp 09/03/2025 09/03/2030 502,264 500,000 3.80%495,650
Sub-Total 8,020,383 8,000,000 8,075,065
September 2025 - Investment Report Page 3
CITY OF ROSEMEAD
TREASURER'S QUARTERLY CASH and INVESTMENT REPORT
SCHEDULE OF CASH AND INVESTMENTS
As of September 30, 2025
Investments (continued)Purchase
Date
Maturity
Date Original Cost Par Value
Interest
Rate
Estimated
Market Value
CORPORATE BONDS
Citigroup Global Mkts Hldgs In Ser N 07/31/2020 07/31/2025 Matured Matured Matured Matured
Capital Impact Partners Invt Mtn 09/24/2020 09/15/2025 Redeemed Redeemed Redeemed Redeemed
Morgan Stanley 11/23/2022 01/27/2026 489,376 500,000 3.88%499,155
Berkshire Hathaway 12/23/2022 03/15/2026 486,454 500,000 3.13%498,050
JP Morgan Chase 01/27/2023 04/01/2026 487,449 500,000 3.30%498,145
US Bancorp 11/14/2022 04/27/2026 470,206 500,000 3.10%497,275
Bank of NY 11/14/2022 01/26/2027 446,456 500,000 2.05%488,235
Amazon Com Inc 12/22/2022 08/22/2027 477,929 500,000 3.15%494,555
Toyota Motor Credit Corporation 11/22/2022 09/20/2027 498,901 500,000 4.55%505,770
Apple Inc 11/30/2022 11/13/2027 477,731 500,000 3.00%493,415
Inter-American Development Bank 02/24/2023 02/24/2028 580,007 580,000 4.38%580,427
California St Taxable Var Purp Go 11/07/2024 08/01/2029 751,276 745,000 4.50%764,459
Prudential Financial A3 08/22/2024 08/15/2029 450,004 450,000 4.25%455,391
California St Taxable Var Purp Go 10/01/2024 10/01/2029 232,699 250,000 2.50%237,603
Inter-American Development Bank 10/30/2024 10/16/2029 495,004 500,000 3.88%502,150
Capital Impact Partners Invt Mtn 03/13/2025 03/15/2030 150,004 150,000 5.20%151,107
Sub-Total 6,493,491 6,675,000$ 6,665,737
CAMBRIDGE
CASH HELD FOR INVESTMENTS 120,797 120,797$ Varies 120,797
TOTAL INVESTMENTS 81,838,007 82,001,021$ 82,255,157
Market values are provided by statements from issuers
Cash and Investments by Type Par Value
% of Invested
Cash
BANK ACCOUNTS - non-invested & FISCAL AGENT 4,897,531$
LAIF 50,250,224$ 61%Not restricted ($75,000,000 max)
CERTIFICATES OF DEPOSIT 16,955,000 21%No more than 30% of Portfolio
U.S. TREASURY/AGENCY SECURITIES 8,000,000 10%No more than 70% of Portfolio
CORPORATE BONDS 6,675,000 8%No more than 25% of Portfolio
CANTELLA & CO., INC.120,797 0%
Total Investments 82,001,021$ 100%
Total - Cash and Investments 86,898,551$
Cash and Investments by Agency Accts Par Value % of Total Cash
CITY 86,361,589$ 99%
Successor Agency 332,628 0%
Housing Development Corporation*204,334 0%
Total Investments 86,898,551$ 100%
*unavailable at the time of reporting
Policy Restrictions by Investment Type
September 2025 - Investment Report Page 4
CITY OF ROSEMEAD
TREASURER'S QUARTERLY CASH and INVESTMENT REPORT
SCHEDULE OF CASH AND INVESTMENTS
As of September 30, 2025
Pie Charts Reflecting Data
Comparative Data
4.24%
4.27%
4.34%
4.48%
4.56%
4.36%
4.12%
3.81%
Policy Compliance
Bryan Chua, Assistant City Manager/Finance Director/City Treasurer
Dec 2023 69,320,852
This is to certify that the above report accurately reflects all City investments and is in conformity with the City's 2025-26 Investment Policy
as approved by the City Council on June 10,2025.A copy of the Policy may be found on the City's webpage at www.cityofrosemead.org or
at the City Clerks Office.The cash and investments shown,along with anticipated revenues,provide sufficient cash flow liquidity to meet
the next six month's estimated expenditures pending any unforeseen catastrophic events.
Sep 2024 77,080,471
Jun 2024 82,645,755
Mar 2024 72,912,400
Jun 2025 88,075,363
Mar 2025 80,273,287
Dec 2024 74,138,079
Quarter End
Invested Cash
(excl non-invested)
Average Quarterly LAIF
Effective Yields
Sep 2025 82,001,021
LAIF
61%CERTIFICATES OF
DEPOSIT
21%
U.S. TREASURY/AGENCY
SECURITIES…
CORPORATE
BONDS
8%
CAMBRIDGE
0%
LAIF
80%
1 Yr
5%
2 Yr
7%
3 Yr
8%
Investments by Category Investments by Maturity
September 2025 - Investment Report Page 5