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<br />38 <br />4826-7904-2280v7/200434-0005 <br />and State regulations and with industry standards and best practices to determine if any enhancements or newly <br />adopted rules and regulations are required to be incorporated within the document. Based on these regular staff <br />evaluations period updates, revisions to the Investment Policy are recommended to the City Council which <br />adopts the policy annually. <br />Summary of Investments. . A summary of the City’s investments as of June 30, 2021 is set forth in <br />the below table. General Fund cash and investments (based on market values) were equal to approximately $110 <br />million or 22.8% of the total cash and investment portfolio as of June 30, 2021. <br />TABLE 16 <br />City of Santa Ana <br />Summary of Investments and Cash as of June 30, 2021 <br />Investments <br />Federal Agency Securities $ 258,240,383 <br />ARPA-Local Agency Investment Fund 64,180,407 <br />Local Agency Investment Fund 74,966,332 <br />Total $ 397,387,122 <br /> <br />Investments with Fiscal Agent <br />Fiscal Agent $ 2,310,397 <br />Money Market Funds 747,460 <br />Total $ 3,057,857 <br /> <br />Total Investments $ 400,444,979 <br /> <br />Deposits with Financial Institutions <br />Cash <br />Cash on hand $ 80,921,738 <br />Total $ 80,921,738 <br /> <br />Total Investments and Cash $ 481,366,717 <br /> <br />Source: City’s June 2021 Monthly Investment Report. <br />See Note 2 in Appendix A for further information with respect to City investments. <br />Other Post-Employment Benefits <br />OPEB Benefit Plan. In addition to the pension benefits that are described under the caption “CITY <br />PENSION PLANS,” the City provides a single-employer defined benefit healthcare plan (the “OPEB Benefits”) <br />for retired employees through PERS under the California Public Employees Medical & Hospital Care Act. <br />OPEB Benefits are applied to all employee groups other than the Santa Ana Police Officers Association and the <br />City Council of the City. Employees are eligible for OPEB Benefits if they retire from the City on or after the <br />age of 50 for all Classic Members and PEPRA Safety members and age 52 for PEPRA Miscellaneous members <br />with at least five years of PERS service credit or an approved disability retirement, and are eligible for a PERS <br />pension. Membership in the plan consisted of the following at June 30, 2019, the date of the latest actuarial <br />valuation: