Loading...
07-16-2026 - Agenda City of Rosemead Investment Committee Quarterly Meeting Agenda July 16, 2026 At 9:00 A.M. 8838 E. Valley Boulevard, Rosemead, CA 91770 Richard Belmudez, Interim City Manager Bryan Chua, Finance Director Ericka Hernandez, City Clerk 1. CALL TO ORDER – 9:00 A.M. 2. ROLL CALL Interim City Manager Belmudez Finance Director Chua City Clerk Hernandez 3. FINANCE COMMITTEE MEETING MINUTES - Approval of the April 29, 2026, Meeting Minutes 4. STATUS REPORTS - Review of the Quarterly Cash and Investment Report ending on June 2026 5. ADJOURNMENT Finance Investment Committee Minutes of April 29, 2026 Page 1 of 1 CITY OF ROSEMEAD FINANCE INVESTMENT COMMITTEE QUARTERLY MEETING MINUTES APRIL 29, 2026 1. CALL TO ORDER The quarterly meeting of the Rosemead City Finance Investment Committee was called to order by City Clerk Hernandez at 9:00 a.m. at Rosemead City Hall at 8838 E. Valley Boulevard, Rosemead, California. 2. ROLL CALL City Manager Kim, Director of Finance Chua, and City Clerk Hernandez 3. FINANCE COMMITTEE MEETING MINUTES ACTION: Motion by City Manager Kim, seconded by Director of Finance Chua to approve the February 2, 2026, regular meeting minutes. Motion was carried by the following votes: AYES: Chua and Kim. 4. STATUS REPORTS Review of Quarterly Cash and Investment Report ending on March 2026. The treasurer’s reports were reviewed by Director of Finance Chua. This is a receive and file report. 5. ADJOURNMENT The meeting was adjourned at 9:08 a.m. Respectfully submitted: Approved: __________________________ ____________________________ City Clerk Interim City Manager CITY OF ROSEMEAD Finance Department MEMORANDUM TO: Honorable Mayor and Members of the City Council FROM: Bryan Chua, Finance Director/City Treasurer DATE: July 16, 2026 SUBJECT: QUARTERLY CASH AND INVESTMENT REPORT – JUNE 2026 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 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 4th quarter of FY 2025-26 (June 30, 2026), 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 July 16, 2026, 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 – June 2026 July 16, 2026 Page 2 of 2 The invested portion of the portfolio totaled $85,475,977 for the quarter ending June 2026, reflecting a $4.8 million increase from the prior quarter. The increase is primarily attributable to the major revenue collections received in May this year. During the quarter three Certificates of Deposit, two Agency Securities, and two Corporate Bonds were matured or were redeemed, contributing to normal portfolio turnover. The investments that were made included the purchase of five Certificates of Deposit and ten Agency Securities and one Local Obligation Bond was purchased. The City's investment balance in actively managed fixed income securities increased by 18%, or $5.6 million, from $31.1 million to $36.7 million between June 30, 2025, and June 30, 2026. The average return rate decreased from 4.21% to 4.11%, resulting in a 0.1% decrease or 10 basis points. The aggregate amount of cash and investments held by the banks on June 30, 2026, is $94,142,976, which is allocated as follows: The following chart provides a summary of the Invested Cash portfolio: Non-invested cash accounts refer to the funds held in bank accounts that are used for paying weekly accounts payable, bi-weekly payroll checks, and receiving City revenue. The balances in these accounts are adjusted to ensure that they are sufficient to cover any outstanding checks and upcoming expenses. ATTACHMENT Cash and Investment Report – Quarter Ending June 2026 Non-Invested Cash Accounts Bank Statement Amount Market Value BANK OPERATING ACCOUNTS (1) City - BMO - General Checking Account (2)8,077,013$ 8,077,013 City - BMO - Payroll Account 441,288 441,288 City - BMO - Public Funds Checking 13,023 13,023 RHDC - Citizens - Angelus Operating 32,193 32,193 RHDC - Citizens - Angelus Deposit 18,938 18,938 RHDC - Citizens - Garvey Operating 47,196 47,196 RHDC - Citizens - Garvey Deposit 26,573 26,573 SA - BMO - General Checking Account 10,000 10,000 TOTAL OPERATING ACCOUNTS 8,666,224$ 8,666,224 Cash with Fiscal Agent Statement Amount Interest Rate Market Value 2016 Subordinate Tax Allocation Refunding Bonds: 2016 Interest Account - U.S. Bank 775 varies 775 TOTAL CASH WITH FISCAL AGENT 775$ 775 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) 48,792,833 48,792,833$ 3.81% 48,792,833 CERTIFICATES OF DEPOSIT BMO Bank 05/09/2023 05/08/2026 Redeemed Redeemed Redeemed Redeemed Greenstate Credit Union 05/17/2023 05/18/2026 Redeemed Redeemed Redeemed Redeemed Alabama Credit Union 06/20/2023 06/22/2026 Redeemed Redeemed Redeemed Redeemed Austin Telco Federal Credit Union 11/28/2022 11/27/2026 248,006 248,000 5.05% 249,054 Celtic Bank 12/19/2022 12/21/2026 249,006 249,000 4.20% 249,237 M&T Bank Corporation 01/20/2023 01/20/2027 244,004 244,000 4.00% 243,959 Texas Exchange Bank 02/24/2023 02/24/2027 248,004 248,000 4.10% 248,126 Global Federal Credit Union 05/12/2023 05/12/2027 249,004 249,000 4.60% 250,103 Capital One National Assoc VA 12/11/2024 08/03/2027 242,242 245,000 3.55% 243,439 Chartway Federal CU 09/08/2023 09/08/2027 248,007 248,000 5.00% 250,443 Connexus Credit Union 09/26/2023 09/27/2027 248,004 248,000 5.05% 250,716 Ideal Cr Un Woodbury 12/29/2022 12/29/2027 249,004 249,000 4.50% 250,180 Liberty First 02/03/2023 02/03/2028 249,004 249,000 4.35% 249,640 Synchrony Bank 03/24/2023 03/24/2028 243,004 243,000 5.00% 246,062 American Express National Bank 03/29/2023 03/29/2028 244,004 244,000 4.75% 246,081 City National Bank 03/14/2024 03/31/2028 247,204 240,000 5.00% 242,674 LIQUID CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of June 30, 2026 (1) These are the actual bank account balances as of the end of the month. (2) Included Bicennteneal Committee account. June 2026 - Investment Report Page 1 CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of June 30, 2026 Investments (continued)Purchase Date Maturity Date Original Cost Par Value Interest Rate Estimated Market Value Pitney Bowes Bank 08/31/2023 04/13/2028 243,460 245,000 4.35% 245,571 Morgan Stanley Bank NA 04/20/2023 04/20/2028 244,004 244,000 4.65% 244,737 HSBC Bank USA 08/31/2023 04/21/2028 239,616 249,000 3.60% 246,356 Univest National Bank 05/12/2023 05/12/2028 249,004 249,000 4.35% 249,595 CIBC Bank USA 05/16/2023 05/16/2028 244,004 244,000 4.35% 244,451 Numerica Credit Union 05/30/2023 05/30/2028 200,004 200,000 4.70% 201,780 Thread Bank 06/16/2023 06/16/2028 249,004 249,000 4.40% 253,330 Bank of the Sierra 08/31/2023 08/18/2028 244,004 244,000 4.50% 245,257 Empower Credit Union 09/29/2023 09/29/2028 248,004 248,000 5.10% 252,551 Dort Financial CU 10/10/2023 10/10/2028 246,004 246,000 5.00% 250,049 Customers Bank 10/18/2024 10/18/2028 220,004 220,000 3.85% 218,029 Utah First Federal CU 10/30/2023 10/30/2028 248,004 248,000 5.10% 252,717 BMW Bank NA 11/08/2024 11/08/2028 245,004 245,000 4.00% 243,528 San Francisco FCU 11/27/2024 11/27/2028 249,004 249,000 4.25% 248,995 UBS Bank USA 02/28/2024 02/28/2029 249,004 249,000 4.20% 248,604 Spur Security Bank 03/27/2024 03/12/2029 244,004 244,000 4.20% 243,471 Morgantown B & T 03/22/2024 03/22/2029 249,004 249,000 4.15% 248,255 Wells Fargo Bank Natl Assn 04/07/2026 04/29/2029 249,004 249,000 4.00% 247,274 First Foundation Bank 05/10/2024 05/10/2029 244,004 244,000 4.60% 245,996 Toyota Financial Savings Bank 05/14/2024 05/14/2029 245,614 244,000 4.60% 246,001 Cross River Bank 05/15/2024 05/15/2029 244,540 244,000 4.50% 245,349 Farmers & Merchants Bank 05/21/2024 05/21/2029 248,004 248,000 4.50% 249,518 Merchants Commercial Bank 05/21/2024 05/21/2029 248,004 248,000 4.50% 249,518 Covantage CR UN Antigo 05/27/2025 05/29/2029 186,004 186,000 4.05% 185,654 Beal Bank 06/05/2024 05/30/2029 240,004 240,000 4.70% 242,724 Consumers FCU 08/27/2024 08/09/2029 248,004 248,000 3.80% 244,491 Enterprise Bank 08/28/2024 08/28/2029 249,004 249,000 3.80% 245,390 Merrick Bank 08/29/2024 08/29/2029 245,004 245,000 3.75% 241,080 Altaone FCU 09/13/2024 09/13/2029 248,004 248,000 3.85% 244,707 Bank of Hapoalim NY 09/18/2024 09/18/2029 245,004 245,000 3.80% 241,266 Amerant Bank NA 09/20/2024 09/19/2029 247,209 245,000 3.75% 240,321 United Community Bank 09/20/2024 09/20/2029 240,004 240,000 3.60% 234,982 State Bank of IN 09/25/2024 09/25/2029 245,004 245,000 3.75% 240,872 First Premier Bank 09/26/2024 09/26/2029 240,004 240,000 3.65% 235,234 BNY Mellon Bank 09/27/2024 09/27/2029 245,004 245,000 3.45% 238,667 First Business Bank WI 09/30/2024 09/28/2029 245,004 245,000 3.45% 238,740 Sunwest Bank 09/28/2024 09/28/2029 245,004 245,000 3.45% 238,743 Parkside Financial B&T 10/08/2024 10/09/2029 249,004 249,000 3.45% 242,548 Malaga Bank FSB 10/16/2024 10/16/2029 249,004 249,000 3.50% 242,885 EagleBank 10/25/2024 10/25/2029 220,004 220,000 3.75% 216,245 June 2026 - Investment Report Page 2 CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of June 30, 2026 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% 242,467 Sallie Mae Bank 12/19/2024 12/19/2029 134,004 134,000 4.10% 133,039 First Bank of the Lake 02/18/2025 02/18/2030 249,004 249,000 4.20% 247,957 Nelnet BK Draper Utah 03/04/2026 03/04/2030 244,004 244,000 3.50% 237,087 CFG Comm BK Lutherville 06/16/2026 06/17/2030 245,004 245,000 4.20% 243,653 Medallion BK Utah 06/17/2025 06/17/2030 249,004 249,000 4.15% 247,235 Nicolet Natl Bk Green Bay WI 06/17/2025 06/17/2030 240,004 240,000 4.00% 236,966 Poppy BK Santa Rosa Calif 06/17/2025 06/17/2030 240,004 240,000 4.00% 236,904 Security First Bk Lincoln Neb 07/30/2025 07/30/2030 245,004 245,000 3.90% 240,882 American Natl Bk Baxter Minn 07/31/2025 07/31/2030 249,004 249,000 3.85% 244,351 Goldman Sachs Bk USA 08/05/2025 08/05/2030 240,004 240,000 3.85% 235,505 Morgan Stanley Private Bk Natl 09/03/2025 09/03/2030 245,004 245,000 3.85% 240,247 Optum Bk Draper Utah 09/15/2025 09/16/2030 245,004 245,000 3.70% 238,897 First Natl Bk Amer East Lans 09/19/2025 9/19/2030 249,004 249,000 3.60% 241,814 Institution For SGVS In Newbur 09/25/2025 09/25/2030 249,004 249,000 3.60% 241,786 Access Bk Omaha Neb 09/30/2025 09/30/2030 249,004 249,000 3.50% 240,800 First Fed Bk Lake City FLA 10/17/2025 10/17/2030 140,004 140,000 3.75% 136,686 JPMORGAN Chase BK 04/01/2026 04/01/2031 240,004 240,000 4.25% 237,070 Credit Human FCU 06/02/2026 05/31/2031 249,004 249,000 4.10% 246,226 Eaglemark Savings Bank 06/24/2026 06/24/2031 244,004 244,000 4.20% 242,287 Sub-Total 17,575,124 17,577,000 17,467,049 U.S. TREASURY/AGENCY SECURITIES Federal Home Loan Bank 11/16/2022 04/29/2026 Redeemed Redeemed Redeemed Redeemed Federal Natl Mtg Assn Note 10/30/2024 04/17/2028 525,204 500,000 5.63% 512,455 Federal Agriculture Mortgage Corp 02/08/2024 01/22/2029 499,214 500,000 4.04% 497,250 Federal Home Loan Bank 04/05/2024 03/22/2029 563,028 560,000 4.75% 560,605 Federal Home Loan Bank 05/31/2024 05/22/2029 Redeemed Redeemed Redeemed Redeemed Federal Agriculture Mortgage Corp 10/29/2024 06/12/2029 526,295 525,000 4.11% 522,774 Federal, Home Loan BA SER El-9029 01/07/2025 12/10/2029 498,879 500,000 4.38% 497,700 Federal, Home Loan BA SER RL-2029 01/14/2025 12/14/2029 485,004 485,000 4.50% 489,792 Federal Farm Cr Bks Bond 03/24/2025 01/24/2030 450,004 450,000 4.00% 446,504 Federal Home Loan Banks Bond 06/03/2025 03/08/2030 509,774 500,000 4.38% 502,850 Federal Farm Cr Bks Bond 03/25/2025 03/18/2030 554,626 555,000 4.00% 549,228 Federal Agriculture Mortgage Corp 07/08/2025 07/03/2030 344,614 345,000 3.85% 341,005 Federal Agriculture Mortgage Corp 07/31/2025 07/29/2030 419,500 420,000 3.88% 414,582 Tennesee Valley Auth Fed BE Bond 09/03/2025 08/01/2030 503,889 500,000 3.88% 493,805 Federal Agriculture Mortgage Corp 09/03/2025 09/03/2030 502,264 500,000 3.80% 487,895 United States Treasury 01/09/2026 12/31/2030 295,004 295,000 3.63% 288,053 June 2026 - Investment Report Page 3 CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of June 30, 2026 Investments (continued)Purchase Date Maturity Date Original Cost Par Value Interest Rate Estimated Market Value United States Treasury 06/02/2026 05/31/2031 499,979 500,000 4.00% 495,665 Federal Farm Cr Bks Bond 01/28/2026 01/28/2031 561,269 560,000 3.75% 549,461 United State Treasury 02/26/2026 01/31/2031 455,044 450,000 3.75% 441,509 Federal Farm Cr Bks Bond 03/17/2026 02/26/2031 582,371 585,000 3.63% 570,586 United States Treasury 05/14/2026 02/28/2031 505,004 500,000 4.25% 500,840 Federal Home Loan BA Ser ST 04/28/2026 03/14/2031 683,737 685,000 4.13% 682,431 Federal Home Loan BA Ser LD 05/12/2026 03/17/2031 273,148 285,000 3.00% 269,938 United States Treasury 05/14/2026 03/31/2031 496,689 500,000 3.88% 492,890 Federal Farm Cr Bks Bond 04/30/2026 04/07/2031 507,226 505,000 4.00% 500,349 United Sates Treasury 05/22/2026 04/30/2031 1,018,934 1,000,000 4.63% 1,017,890 United Sates Treasury 05/19/2026 04/30/2031 271,767 275,000 3.88% 271,048 United State Treasury 05/15/2026 05/15/2031 494,747 555,000 1.63% 492,368 United State Treasury 05/14/2026 03/31/2031 511,294 500,000 4.63% 508,965 Sub-Total 13,538,499 13,535,000 13,398,436 CORPORATE BONDS JP Morgan Chase 01/27/2023 04/01/2026 Redeemed Redeemed Redeemed Redeemed US Bancorp 11/14/2022 04/27/2026 Redeemed Redeemed Redeemed Redeemed Bank of NY 11/14/2022 01/26/2027 446,456 500,000 2.05% 493,990 Amazon Com Inc 12/22/2022 08/22/2027 477,929 500,000 3.15% 494,015 Toyota Motor Credit Corporation 11/22/2022 09/20/2027 498,901 500,000 4.55% 501,510 Apple Inc 11/30/2022 11/13/2027 477,731 500,000 3.00% 492,735 California St Taxable Var Purp Go 11/07/2024 08/01/2029 751,276 745,000 4.50% 748,420 Prudential Financial A3 08/22/2024 08/15/2029 450,004 450,000 4.25% 442,778 California St Taxable Var Purp Go 10/01/2024 10/01/2029 232,699 250,000 2.50% 236,165 Inter-American Development Bank 10/30/2024 10/16/2029 495,004 500,000 3.88% 495,150 Capital Impact Partners Invt Mtn 03/13/2025 03/15/2030 150,004 150,000 5.20% 149,576 Sub-Total 3,980,001 4,095,000 4,054,338 LOCAL AGENCY OBLIGATIONS San Diego Calif Community College 12/16/2025 08/01/2030 547,996 590,000 2.01% 539,915 California St Taxable Var Purp Go 12/04/2025 09/01/2030 668,557 635,000 4.88% 646,849 California St Taxable Var Purp Go 06/10/2026 04/01/2031 163,849 165,000 4.05% 162,350 Sub-Total 1,380,401 1,390,000 1,349,114 CAMBRIDGE CASH HELD FOR INVESTMENTS 86,144 86,144$ Varies 86,144 TOTAL INVESTMENTS 85,353,001 85,475,977 85,147,914 June 2026 - Investment Report Page 4 CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of June 30, 2026 Cash and Investments by Type Par Value % of Invested Cash BANK ACCOUNTS - non-invested & FISCAL AGENT 8,666,999$ LAIF 48,792,833$ 57% Not restricted ($75,000,000 max) CERTIFICATES OF DEPOSIT 17,577,000 21% No more than 30% of Portfolio U.S. TREASURY/AGENCY SECURITIES 13,535,000 16% No more than 70% of Portfolio CORPORATE BONDS 4,095,000 5% No more than 25% of Portfolio LOCAL AGENCY OBLIGATIONS 1,390,000 1% Not limited CANTELLA & CO., INC.86,144 0% Total Investments 85,475,977$ 100% Total - Cash and Investments 94,142,976$ Cash and Investments by Agency Accts Par Value % of Total Cash CITY 94,007,301$ 100% Successor Agency 10,775 0% Housing Development Corporation*124,900 0% Total Investments 94,142,976$ 100% Policy Restrictions by Investment Type June 2026 - Investment Report Page 5 CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of June 30, 2026 Pie Charts Reflecting Data Comparative Data 3.81% 3.88% 4.09% 4.24% 4.27% 4.34% 4.48% 4.56% Policy Compliance Bryan Chua, Finance Director/City Treasurer Sep 2024 77,080,471 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. Jun 2025 88,075,363 Mar 2025 80,273,287 Dec 2024 74,138,079 Mar 2026 80,713,577 Dec 2025 76,844,804 Sep 2025 82,001,021 Quarter End Invested Cash (excl non-invested) Average Quarterly LAIF Effective Yields Jun 2026 85,475,977 LAIF 57% CERTIFICATES OF DEPOSIT 20% U.S. TREASURY/AGENCY SECURITIES… CORPORATE BONDS 5% LOCAL AGENCY OBLIGATIONS 2% CAMBRIDGE 0% LAIF 79% 1 Yr 3% 2 Yr 9% 3 Yr 9% Investments by Category Investments by Maturity June 2026 - Investment Report Page 6