Loading...
02-02-2026 - Agenda City of Rosemead Investment Committee Quarterly Meeting Agenda February 2, 2026 At 9:00 A.M. 8838 E. Valley Boulevard, Rosemead, CA 91770 Ben Kim, City Manager Bryan Chua, Assistant City Manager/Finance Director Ericka Hernandez, City Clerk 1. CALL TO ORDER – 9:00 A.M. 2. ROLL CALL City Manager Kim Assistant City Manager/Finance Director Chua City Clerk Hernandez 3. FINANCE COMMITTEE MEETING MINUTES - Approval of the October 29, 2025, Meeting Minutes 4. STATUS REPORTS - Review of the Quarterly Cash and Investment Report ending on December 2025 5. ADJOURNMENT Finance Investment Committee Minutes of October 29, 2025 Page 1 of 1 CITY OF ROSEMEAD FINANCE INVESTMENT COMMITTEE QUARTERLY MEETING MINUTES OCTOBER 29, 2025 1. CALL TO ORDER The quarterly meeting of the Rosemead City Finance Investment Committee was called to order by City Clerk Hernandez at 9:02 a.m. at Rosemead City Hall at 8838 E. Valley Boulevard, Rosemead, California. 2. ROLL CALL City Manager Kim, Assistant City Manager Chua, and City Clerk Hernandez 3. FINANCE COMMITTEE MEETING MINUTES ACTION: Motion by City Manager Kim, seconded by Assistant City Manager Chua to approve the July 28, 2025, 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 September 2025. The treasurer’s reports were reviewed by Assistant City Manager Chua. This is a receive and file report. 5. ADJOURNMENT The meeting was adjourned at 9:15 a.m. Respectfully submitted: Approved: __________________________ ____________________________ City Clerk City Manager CITY 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: February 2, 2026 SUBJECT: QUARTERLY CASH AND INVESTMENT REPORT – DECEMBER 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 second quarter of FY 2025-26 (December 31, 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 February 2, 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 – December 2025 February 2, 2026 Page 2 of 2 The invested portion of the portfolio totaled $76,844,804 for the quarter ending December 2025, reflecting a $5.2 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 to meet operating and capital funding requirements. During the quarter one Certificates of Deposit and two Agency Securities were redeemed, contributing to normal portfolio turnover. The investments that were made included the purchase of one Certificates of Deposit and two Corporate Bonds. 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 8%, or $2.4 million, from $29.4 million to $31.7 million between December 31, 2024, and December 31, 2025. The average return rate increased from 4.14% to 4.20%, resulting in a 0.06% increase or 6 basis points. The aggregate amount of cash and investments held by the banks on December 31, 2025, is $83,947,682, 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 December 2025 Investment Type Beginning Balance Deposits/ Purchases Withdrawls/ Maturities Ending Balance LAIF $ 50,250,224 563,028 6,000,000 $ 44,813,252 Certificates of Deposit 16,955,000 140,000 248,000 16,847,000 US Securities 8,000,000 1,000,000 7,000,000 Corporate Bonds 6,675,000 1,225,000 7,900,000 Money Market - Cantella 120,797 284,552 $ 82,001,021 1,928,028 7,248,000 $ 76,844,804 Total Cash and Investments Cash Deposits $ 7,098,290 Cash with Fiscal Agent 4,587 Invested Cash 76,844,804 $ 83,947,682 Non-Invested Cash Accounts Bank Statement Amount Market Value BANK OPERATING ACCOUNTS (1) City - BMO - General Checking Account 6,270,457$ 6,270,457 City - BMO - Payroll Account 673,470 673,470 RHDC - Citizens - Angelus Operating 52,605 52,605 RHDC - Citizens - Angelus Deposit 17,011 17,011 RHDC - Citizens - Garvey Operating 49,083 49,083 RHDC - Citizens - Garvey Deposit 25,665 25,665 SA - BMO - General Checking Account 10,000 10,000 TOTAL OPERATING ACCOUNTS 7,098,290$ 7,098,290 Cash with Fiscal Agent Statement Amount Interest Rate Market Value 2016 Subordinate Tax Allocation Refunding Bonds: 2016 Interest Account - U.S. Bank 4,587 varies 4,587 2016 Reserve Account - U.S. Bank (Non-cash Ins Policy)- - - TOTAL CASH WITH FISCAL AGENT 4,587$ 4,587 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) 44,813,252 44,813,252$ 4.09% 44,813,252 CERTIFICATES OF DEPOSIT BMO Bank 05/09/2023 05/08/2026 244,004 244,000 4.60% 244,734 Greenstate Credit Union 05/17/2023 05/18/2026 249,004 249,000 4.80% 250,013 Alabama Credit Union 06/20/2023 06/22/2026 248,004 248,000 5.00% 249,590 Austin Telco Federal Credit Union 11/28/2022 11/27/2026 248,006 248,000 5.05% 251,226 Celtic Bank 12/19/2022 12/21/2026 249,006 249,000 4.20% 250,452 M&T Bank Corporation 01/20/2023 01/20/2027 244,004 244,000 4.00% 244,922 Texas Exchange Bank 02/24/2023 02/24/2027 248,004 248,000 4.10% 249,371 Global Federal Credit Union 05/12/2023 05/12/2027 249,004 249,000 4.60% 252,205 Capital One National Assoc VA 12/11/2024 08/03/2027 242,242 245,000 3.55% 244,520 Chartway Federal CU 09/08/2023 09/08/2027 248,007 248,000 5.00% 253,389 Connexus Credit Union 09/26/2023 09/27/2027 248,004 248,000 5.05% 253,768 Ideal Cr Un Woodbury 12/29/2022 12/29/2027 249,004 249,000 4.50% 252,822 Liberty First 02/03/2023 02/03/2028 249,004 249,000 4.35% 252,212 Synchrony Bank 03/24/2023 03/24/2028 243,004 243,000 5.00% 249,561 American Express National Bank 03/29/2023 03/29/2028 244,004 244,000 4.75% 249,322 City National Bank 03/14/2024 03/31/2028 247,204 240,000 5.00% 245,971 LIQUID CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of December 31, 2025 (1) These are the actual bank account balances as of the end of the month. December 2025 - Investment Report Page 1 CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of December 31, 2025 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% 248,349 Morgan Stanley Bank NA 04/20/2023 04/20/2028 244,004 244,000 4.65% 244,605 HSBC Bank USA 08/31/2023 04/21/2028 239,616 249,000 3.60% 248,290 Univest National Bank 05/12/2023 05/12/2028 249,004 249,000 4.35% 252,466 CIBC Bank USA 05/16/2023 05/16/2028 244,004 244,000 4.35% 247,375 Numerica Credit Union 05/30/2023 05/30/2028 200,004 200,000 4.70% 204,480 Thread Bank 06/16/2023 06/16/2028 249,004 249,000 4.40% 257,279 Jefferson Credit Union 06/20/2023 06/20/2028 Redeemed Redeemed 5.00% Redeemed Bank of the Sierra 08/31/2023 08/18/2028 244,004 244,000 4.50% 248,416 Empower Credit Union 09/29/2023 09/29/2028 248,004 248,000 5.10% 256,628 Dort Financial CU 10/10/2023 10/10/2028 246,004 246,000 5.00% 253,993 Customers Bank 10/18/2024 10/18/2028 220,004 220,000 3.85% 220,442 Utah First Federal CU 10/30/2023 10/30/2028 248,004 248,000 5.10% 256,896 BMW Bank NA 11/08/2024 11/08/2028 245,004 245,000 4.00% 246,485 San Francisco FCU 11/27/2024 11/27/2028 249,004 249,000 4.25% 252,239 UBS Bank USA 02/28/2024 02/28/2029 249,004 249,000 4.20% 252,020 Spur Security Bank 03/27/2024 03/12/2029 244,004 244,000 4.20% 246,948 Morgantown B & T 03/22/2024 03/22/2029 249,004 249,000 4.15% 251,682 First Foundation Bank 05/10/2024 05/10/2029 244,004 244,000 4.60% 250,078 Toyota Financial Savings Bank 05/14/2024 05/14/2029 245,614 244,000 4.60% 250,095 Cross River Bank 05/15/2024 05/15/2029 244,540 244,000 4.50% 249,334 Farmers & Merchants Bank 05/21/2024 05/21/2029 248,004 248,000 4.50% 253,488 Merchants Commercial Bank 05/21/2024 05/21/2029 248,004 248,000 4.50% 253,488 Covantage CR UN Antigo 05/27/2025 05/29/2029 186,004 186,000 4.05% 188,435 Beal Bank 06/05/2024 05/30/2029 240,004 240,000 4.70% 246,842 Consumers FCU 08/27/2024 08/09/2029 248,004 248,000 3.80% 247,893 Enterprise Bank 08/28/2024 08/28/2029 249,004 249,000 3.80% 248,863 Merrick Bank 08/29/2024 08/29/2029 245,004 245,000 3.75% 244,446 Altaone FCU 09/13/2024 09/13/2029 248,004 248,000 3.85% 248,270 Bank of Hapoalim NY 09/18/2024 09/18/2029 245,004 245,000 3.80% 244,831 Amerant Bank NA 09/20/2024 09/19/2029 247,209 245,000 3.75% 243,736 United Community Bank 09/20/2024 09/20/2029 240,004 240,000 3.60% 238,178 State Bank of IN 09/25/2024 09/25/2029 245,004 245,000 3.75% 244,400 First Premier Bank 09/26/2024 09/26/2029 240,004 240,000 3.65% 238,582 BNY Mellon Bank 09/27/2024 09/27/2029 245,004 245,000 3.45% 241,859 First Business Bank WI 09/30/2024 09/28/2029 245,004 245,000 3.45% 241,938 Sunwest Bank 09/28/2024 09/28/2029 245,004 245,000 3.45% 241,862 Parkside Financial B&T 10/08/2024 10/09/2029 249,004 249,000 3.45% 245,753 Malaga Bank FSB 10/16/2024 10/16/2029 249,004 249,000 3.50% 246,169 EagleBank 10/25/2024 10/25/2029 220,004 220,000 3.75% 219,424 December 2025 - Investment Report Page 2 CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of December 31, 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% 246,477 Sallie Mae Bank 12/19/2024 12/19/2029 134,004 134,000 4.10% 135,297 First Bank of the Lake 02/18/2025 02/18/2030 249,004 249,000 4.20% 252,421 Medallion BK Utah 06/17/2025 06/17/2030 249,004 249,000 4.15% 252,023 Nicolet Natl Bk Green Bay WI 06/17/2025 06/17/2030 240,004 240,000 4.00% 241,416 Poppy BK Santa Rosa Calif 06/17/2025 06/17/2030 240,004 240,000 4.00% 241,378 Security First Bk Lincoln Neb 07/30/2025 07/30/2030 245,004 245,000 3.90% 245,306 American Natl Bk Baxter Minn 07/31/2025 07/31/2030 249,004 249,000 3.85% 248,905 Goldman Sachs Bk USA 08/05/2025 08/05/2030 240,004 240,000 3.85% 239,791 Morgan Stanley Private Bk Natl 09/03/2025 09/03/2030 245,004 245,000 3.85% 244,821 Optum Bk Draper Utah 09/15/2025 09/16/2030 245,004 245,000 3.70% 243,317 First Natl Bk Amer East Lans 09/19/2025 9/19/2030 249,004 249,000 3.60% 246,122 Institution For SGVS In Newbur 09/25/2025 09/25/2030 249,004 249,000 3.60% 246,104 Access Bk Omaha Neb 09/30/2025 09/30/2030 249,004 249,000 3.50% 245,011 First Fed Bk Lake City FLA 10/17/2025 10/17/2030 140,004 140,000 3.75% 139,237 Sub-Total 16,845,113 16,847,000 16,978,263 U.S. TREASURY/AGENCY SECURITIES Federal Home Loan Bank 11/16/2022 04/29/2026 480,006 500,000 3.00% 498,980 Federal Home Loan Bank 11/15/2022 09/14/2027 Redeemed Redeemed Redeemed Redeemed Federal Natl Mtg Assn Note 10/30/2024 04/17/2028 525,204 500,000 5.63% 522,075 Federal Agriculture Mortgage Corp 01/24/2024 11/28/2028 Redeemed Redeemed Redeemed Redeemed Federal Agriculture Mortgage Corp 02/08/2024 01/22/2029 499,214 500,000 4.04% 505,515 Federal Home Loan Bank 04/05/2024 03/22/2029 563,028 560,000 4.75% 566,787 Federal Home Loan Bank 05/31/2024 05/22/2029 160,373 160,000 5.13% 160,768 Federal Agriculture Mortgage Corp 10/29/2024 06/12/2029 526,295 525,000 4.11% 532,161 Federal, Home Loan BA SER El-9029 01/07/2025 12/10/2029 498,879 500,000 4.38% 505,080 Federal, Home Loan BA SER RL-2029 01/14/2025 12/14/2029 485,004 485,000 4.50% 500,117 Federal Farm Cr Bks Bond 03/24/2025 01/24/2030 450,004 450,000 4.00% 455,027 Federal Home Loan Banks Bond 06/03/2025 03/08/2030 509,774 500,000 4.38% 513,340 Federal Farm Cr Bks Bond 03/25/2025 03/18/2030 554,626 555,000 4.00% 559,679 Federal Agriculture Mortgage Corp 07/08/2025 07/03/2030 344,614 345,000 3.85% 347,657 Federal Agriculture Mortgage Corp 07/31/2025 07/29/2030 419,500 420,000 3.88% 422,646 Tennesee Valley Auth Fed BE Bond 09/03/2025 08/01/2030 503,889 500,000 3.88% 502,200 Federal Agriculture Mortgage Corp 09/03/2025 09/03/2030 502,264 500,000 3.80% 496,840 Sub-Total 7,022,669 7,000,000 7,088,871 December 2025 - Investment Report Page 3 CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of December 31, 2025 Investments (continued)Purchase Date Maturity Date Original Cost Par Value Interest Rate Estimated Market Value CORPORATE BONDS Morgan Stanley 11/23/2022 01/27/2026 489,376 500,000 3.88% 499,930 Berkshire Hathaway 12/23/2022 03/15/2026 486,454 500,000 3.13% 499,185 JP Morgan Chase 01/27/2023 04/01/2026 487,449 500,000 3.30% 499,420 US Bancorp 11/14/2022 04/27/2026 470,206 500,000 3.10% 498,725 Bank of NY 11/14/2022 01/26/2027 446,456 500,000 2.05% 490,740 Amazon Com Inc 12/22/2022 08/22/2027 477,929 500,000 3.15% 495,935 Toyota Motor Credit Corporation 11/22/2022 09/20/2027 498,901 500,000 4.55% 506,190 Apple Inc 11/30/2022 11/13/2027 477,731 500,000 3.00% 494,965 Inter-American Development Bank 02/24/2023 02/24/2028 580,007 580,000 4.38% 580,269 California St Taxable Var Purp Go 11/07/2024 08/01/2029 751,276 745,000 4.50% 763,402 Prudential Financial A3 08/22/2024 08/15/2029 450,004 450,000 4.25% 452,412 California St Taxable Var Purp Go 10/01/2024 10/01/2029 232,699 250,000 2.50% 238,975 Inter-American Development Bank 10/30/2024 10/16/2029 495,004 500,000 3.88% 503,896 Capital Impact Partners Invt Mtn 03/13/2025 03/15/2030 150,004 150,000 5.20% 151,982 San Diego Calif Community College 12/16/2025 8/1/2030 547,996 590,000 2.01% 545,355 California St Taxable Var Purp Go 12/4/2025 9/1/2030 668,557 635,000 4.88% 663,067 Sub-Total 7,710,044 7,900,000 7,884,447 CAMBRIDGE CASH HELD FOR INVESTMENTS 284,552 284,552$ Varies 284,552 TOTAL INVESTMENTS 76,675,629 76,844,804$ 77,049,385 Market values are provided by statements from issuers Cash and Investments by Type Par Value % of Invested Cash BANK ACCOUNTS - non-invested & FISCAL AGENT 7,102,877$ LAIF 44,813,252$ 58% Not restricted ($75,000,000 max) CERTIFICATES OF DEPOSIT 16,847,000 22% No more than 30% of Portfolio U.S. TREASURY/AGENCY SECURITIES 7,000,000 9% No more than 70% of Portfolio CORPORATE BONDS 7,900,000 10% No more than 25% of Portfolio CANTELLA & CO., INC.284,552 0% Total Investments 76,844,804$ 100% Total - Cash and Investments 83,947,682$ Cash and Investments by Agency Accts Par Value % of Total Cash CITY 83,788,731$ 100% Successor Agency 14,587 0% Housing Development Corporation*144,364 0% Total Investments 83,947,682$ 100% *unavailable at the time of reporting Policy Restrictions by Investment Type December 2025 - Investment Report Page 4 CITY OF ROSEMEAD TREASURER'S QUARTERLY CASH and INVESTMENT REPORT SCHEDULE OF CASH AND INVESTMENTS As of December 31, 2025 Pie Charts Reflecting Data Comparative Data 4.09% 4.24% 4.27% 4.34% 4.48% 4.56% 4.36% 4.12% Policy Compliance Bryan Chua, Assistant City Manager/Finance Director/City Treasurer Mar 2024 72,912,400 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. Dec 2024 74,138,079 Sep 2024 77,080,471 Jun 2024 82,645,755 Sep 2025 82,001,021 Jun 2025 88,075,363 Mar 2025 80,273,287 Quarter End Invested Cash (excl non-invested) Average Quarterly LAIF Effective Yields Dec 2025 76,844,804 LAIF 58% CERTIFICATES OF DEPOSIT 22% U.S. TREASURY/AGENCY SECURITIES… CORPORATE BONDS 10% CAMBRIDGE 1% LAIF 78% 1 Yr 7% 2 Yr 6% 3 Yr 9% Investments by Category Investments by Maturity December 2025 - Investment Report Page 5