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HomeMy WebLinkAbout2015-12-01; City Council; 22154; Report on City Investments as of October 31, 2015Report on City Investments as of October 31, 2015 Meeting Date: December 01, 2015 Page 2 Cash Income Fiscal Year-to-Date* Pooled Investment Interest Income Current Prior Current Month Month FYTD Month FYTD Income 2,907,217 2,177,410 729,807 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement Average Life Average Yield (Years) To Maturity Modified Duration AUGUST 2015 1.95 1 '134% 1.896 SEPTEMBER 2015 1.88 1.111% 1.871 OCTOBER 2015 1.93 1 '116% 1.875 All pooled investments have been made in accordance with the city's Investment Policy adopted January 2, 1985 and last revised February 10, 2015. All investments were initially made in accordance with the city's Investment Policy. Events subsequent to the purchase might have resulted in some investments not being in compliance with the current policy. These events are typically a change in the city's Investment Policy, a change in the credit rating subsequent to a purchase, or a temporary reduction in total portfolio assets. See Exhibit 9 for details. The pooled investment portfolio has the ability to meet the city's cash flow demands for the next six (6) months. FISCAL IMPACT: None ENVIRONMENTAL IMPACT: Pursuant to Public Resources Code section 21065, this action does not constitute a "project" within the meaning of CEQA in that it has no potential to cause either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, and therefore does not require environmental review. EXHIBITS FOR POOLED INVESTMENTS: 1. Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield 2. Investment Portfolio Breakdown Of Maturities 3. Yield Comparison Graph 4. Market Yield Curve 5. Cumulative Cash Income Graph 6. Second Quarter Transactions 7. Detailed Investment Report 8. Fund Equity in Pooled Investments 9. Corporate Note and Commercial Paper Ratings 10. Percentage Weightings By Corporate Note Issuer ~ CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF OCTOBER 31, 2015 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS AMORTIZED COST MARKET VALUE AVERAGE YIELD Cash Income Class Current Month Prior Month Current Month Prior Month Year to Date Current Month Prior Month CD 15,537,892 15,537,552 15,539,594 15,512,931 85,848 1.48 1.46 FN 14,503,112 11,734,831 14,455,758 11,743,613 0 1.63 1.60 TR 51,266,653 44,679,588 51,508,122 45,081,316 122,602 1.15 1.20 FA 313,747,943 321,177,706 314,308,875 322,351,089 1,410,697 1.18 1.19 CN 158,162,598 161,214,437 158,410,845 161,574,867 1,111,753 1.57 1.54 LA IF 120,945,480 127,193,000 120,945,480 127,193,000 176,161 0.36 0.33 CUSTODY 11,578,823 65,878 11,578,823 65,878 14 0.00 0.00 SWEEP 2,862,616 5,338,271 2,862,616 5,338,271 141 0.02 0.02 BANKACCT 581,084 4,843,698 581,084 4,843,698 0 0.02 0.02 TOTALS $689,186,202 $691,784,961 $690,191,196 $693,704,665 2,907,217 1.12% 1.11% CD-Certificate of Deposit FA-Federal Agency Custody -Investment Cash account FN-Federal Discount Notes CN -Corporate Notes SWEEP -General Fund Overnight Cash acccount TR-US Treasury LAIF -Local Agency Investment Fund Bank Account -General Fund Cash account tJj :><: ::r:: H tJj H t-3 ...... CLASS CD FN TR FA CN LAIF CUSTODY SWEEP BANK ACCT TOTALS %TOTALS CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF OCTOBER 31,2015 BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME WITHIN 6 MONTHS 7 MONTHS TO I YEAR I TO 5 YEARS TOTAL 1.492,130 I ,238,526 12,797,174 15,527,831 0 0 14,396.011 14.396,011 0 0 51,243.936 51.243,936 16.470,628 14.526,907 283,17LJ02 314.168,637 26,293,694 36.454,579 97,639.160 160.387,433 120.945,480 0 0 120,945,480 I 1.578,823 0 0 11.578,823 2.862,616 0 0 2.862,616 581,084 0 0 581,084 $180.224,456 (I) $52,220,0 I I (I) $459,247.383 $691.691,851 26.1~·'0 7.6% 66.40,{, 100.0% Total within One Year $232,444.46 7 (I) POLICY: ~ 33.6% (I) Not Jess than $160,258.000 to mature within one year. (2/3rds of current year operating budget of $240,385.000.00) (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes. %TOTAL 2.2% 2.1% 7.4% 45.4% 23.2% (2) 17.5% 1.7% 0.4% 0.1% 100.0% tij :X: ::r: H to H t-3 IV 6.75 6.50 6.25 6.00 5.75 5.50 5.25 5.00 4.75 4.50 4.25 4.00 3.75 3.50 3.25 3.00 2.75 2.50 2.25 2.00 1.75 1.50 1.25 1.00 0.75 0.50 YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 2000-OCTOBER 2015 0.25 1 •••• --~--------1:r:1 0.00 ·' • ' · · 'T ITTlT · · · TTTTTTTTC 1i )~~~~~~~~~~~~~~~~~~~~~~~~ ~ t-3 c" w ~ Cumulative Cash Income FY15-16 Cumulative Millions$ (October 2015) Monthly Interest Income Millions$ 10 9 8 7 6 5 4 3 2 1 0 -· ,..~ _., ,.. ,..~ ,..~ .¥"' / _N" __ ,.. ~ ... 0.619 ~ 0.~ 0.7 0.73 -I n n I l I I I I I I I I I I I Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun c:J Interest Income -+-·Budget ----Actual YTD r- r- 1- r- r- r- 8 7 6 5 4 3 2 1 0 tr1 X ::r: H to H 1-3 U1 TRANSACTIONS FOR PERIOD: 10/01/15 TO 10/31/15 2nd QUARTER 2015-2016 Trans Investment Call Par Amount Return Investment Date Date ~ Security Date Value CouQon (Cost) Rate Interest Return BUYS OCTOBER 10/02/15 10/05/15 FA FHLMC N/A 3,500,000.00 1.400% 3,519,495.00 1.264% 188,299.44 3, 707,794.44 10/05/15 10/06/15 FA FNMA N/A 4,183,000.00 1.330% 4,197,807.82 1.240% 210,509.47 4,408,317.29 10/05/15 10/06/15 TR US TREASURY N/A 4,000,000.00 1.625% 4,083,992.00 1.010% 142,442.43 4,226,434.43 10/05/15 10/08/15 CN APPLE, INC N/A 2,500,000.00 2.100% 2,558,025.00 1.432% 129,808.33 2,687,833.33 10/08/15 10/09/15 FA FHLB N/A 2,000,000.00 0.750% 2,004,800.00 0.622% 23,491.67 2,028,291.67 10/05/15 10/15/15 FA FFCB 1/15/2016 3,000,000.00 1.440% 3,000,000.00 1.440% 172,800.00 3,172,800.00 10/16/15 10/19/15 FA FFCB 1/13/2016 3,000,000.00 1.030% 3,000,000.00 1.030% 84,460.00 3,084,460.00 10/06/15 10/19/15 CD COMENITY CAP BANK N/A 249,000.00 2.000% 249,000.00 2.000% 24,818.14 273,818.14 10/20/15 10/20/15 FA FFCB 1/20/2016 5,000,000.00 1.625% 5,000,000.00 1.625% 365,625.00 5,365,625.00 10/23/15 10/23/15 FN RFCSP N/A 3,000,000.00 0.000% 2,750,760.00 1.750% 249,240.00 3,000,000.00 10/27/15 10/27/15 FA FNMA 10/27/2016 5,000,000.00 1.470% 5,000,000.00 1.470% 367,500.00 5,367,500.00 10/27/15 10/27/15 TR US TREASURY N/A 2,500,000.00 0.750% 2,506,045.00 0.629% 31,658.80 2,537,703.80 10/27/15 10/27/15 FA FHLB N/A 4,000,000.00 1.125% 4,020,840.00 0.941% 108,785.00 4,129,625.00 10/28/15 10/28/17 FA FHLMC 1/28/2016 3,000,000.00 0.700% 3,000,000.00 0.700% 36,750.00 3,036, 750.00 10/28/15 10/28/15 CN JOHNSON & JOHNSON N/A 4,000,000.00 1.650% 4,070,600.00 1.070% 134,183.33 4,204, 783.33 10/28/15 10/28/15 FA FFCB 1/28/2016 4,650,000.00 1.150% 4,648,837.50 1.158% 174,956.25 4,823, 793.75 10/29/15 10/29/15 CN WAL-MART STORES N/A 4,000,000.00 1.125% 4,024,400.00 0.873% 85,850.00 4,110,250.00 10/30/15 10/30/15 FA FHLB N/A 3,500,000.00 0.750% 3,507,910.00 0.580% 27,235.83 3,535,145.83 TOTAL SECOND QUARTER 2015-2016 61,082,000.00 61,142,512.32 1.139% 2,558,413.69 63,700,926.01 MATURITIES OCTOBER 10/28/10 10/28/15 FA FNMA 4/28/2011 2,000,000.00 1.500% 1,999,000.00 1.510% 151,000.00 2,150,000.00 10/09/12 10/09/15 CN GENERAL ELECTIC COMPANY N/A 5,000,000.00 0.850% 5,022,225.00 0.700% 105,275.00 5,127,500.00 01/23/13 10/09/15 CN GENERAL ELECTIC COMPANY N/A 3,000,000.00 0.850% 3,010,440.00 0.720% 58,693.33 3,069,133.33 10/06/11 10/25/15 CN WAL-MART STORES N/A 3,000,000.00 1.500% 3,049,826.34 1.080% 132,548.66 3,182,375.00 05/15/12 10/25/15 CN WAL-MART STORES N/A 2,630,000.00 1.500% 2,696,944.02 0.750% 68,939.31 2,765,883.33 10/17/12 10/16/15 CD COMENITYCAP BANK N/A 249,000.00 0.500% 248,601.60 0.550% 4,233.74 252,835.34 TOTAL SECOND QUARTER 2015-2016 15,879,000.00 16,027,036.96 0.883% 520,690.04 16,547,727.00 CALLS OCTOBER 12/18/12 12/19/12 FA FHLB 10/9/2015 3,000,000.00 1.000% 2,999,400.00 1.004% 147,266.67 3,146,666.67 07/09/15 07/10/15 FA FHLMC 10/9/2015 1,600,000.00 1.600% 1,593,088.00 1.700% 122,040.89 1,715,128.89 05/06/15 05/07/15 FA FFCB 10/13/2015 3,000,000.00 1.690% 2,994, 750.00 1.732% 223,682.50 3,218,432.50 t:Ij :X: 02/13/15 02/17/15 FA FFCB 10/13/2015 2,000,000.00 1.370% 1,996,000.00 1.430% 98,606.11 2,094,606.11 :I: 12/04/12 12/05/12 FA FFCB 10/14/2015 2,266,000.00 0.657% 2,265,433.50 0.657% 57,805.03 2,323,238.53 H 03/21/13 04/17/13 FA FHLMC 10/17/2015 5,000,000.00 1.100% 4,993,750.00 1.126% 281,250.00 5,275,000.00 td H 07/15/14 07/18/14 FA FHLB 10/18/2015 1,000,000.00 1.650% 991,430.00 1.830% 91,070.00 1,082,500.00 ""' ~ 01/15/14 01/16/14 FA FFCB 10/21/2015 1,500,000.00 1.340% 1,474,500.00 1.718% 119,858.33 1,594,358.33 0'1 ! TRANSACTIONS FOR PERIOD: 10/01/15 TO 10/31/15 2nd QUARTER 2015-2016 Trans Investment Call Par Amount Return Investment Date Date ~ Security Date Value Cou~on (Cost) Rate Interest Return 06/25/15 07/21/15 FA FHLB 10/21/2015 2,000,000.00 1% STEP 2,000,000.00 2.325% 235,000.00 2,235,000.00 11/10/14 11/12/14 FA FHLB 10/24/2015 3,000,000.00 1.200% 2,984,520.00 1.350% 142,680.00 3,127,200.00 03/05/15 03/06/15 FA FNMA 10/26/2015 1,000,000.00 1.010% 998,000.00 1.087% 28,652.78 1,026,652.78 12/14/12 12/28/12 FA FHLB 10/28/2015 5,000,000.00 0.950% 5,000,000.00 0.950% 237,500.00 5,237,500.00 04/30/15 05/01/15 FA FHLMC 10/29/2015 1,000,000.00 1.300% 999,750.00 1.307% 45,677.78 1 ,045,427. 78 01/20/15 01/30/15 FA FHLMC 10/30/2015 4,000,000.00 0.625% STEP 4,000,000.00 1.656% 265,000.00 4,265,000.00 02/26/15 02/27/15 FA FHLMC 10/30/2015 1,000,000.00 1.000% 999,500.00 1.019% 30,250.00 1,029,750.00 01/08/13 01/30/13 FA FHLB 10/30/2015 5,000,000.00 1.000% 5,000,000.00 1.000% 250,000.00 5,250,000.00 01/03/13 01/30/13 FA FHLB 10/30/2015 5,000,000.00 1 000% 5,000,000.00 1.000% 250,000.00 5,250,000.00 TOTAL SECOND QUARTER 2015-2016 46,366,000.00 46,290,121.50 1.268% 2,626,340.09 48,916,461.59 --0 INVESTMENT REPORT AS OF OCTOBER 31,2015 INVESTMENT DATE TYPE SECURITY 6/20/2012 FA FNMA 2.00% NON-CALL 2/1/2013 FA FFCB .4% NON-CALL 6/20/2012 FA FNMA 2.25% NON-CALL 4/27/2011 FA FHLB 2.5% NON-CALL 6/12/2014 FA FNMA .375% NON-CALL 6/12/2014 FA FHLB .59% NON-CALL 9/12/2013 FA FFCB .95% NON-CALL 6/12/2014 FA FFCB .97% NON-CALL 6/12/2014 10/6/2011 3/3/2015 5/28/2013 11/27/2012 12/27/2012 4/30/2013 1/3/2013 4/25/2014 10/30/2015 6/26/2015 9/6/2013 1/27/2015 8/16/2012 10/30/2013 5/15/2015 5/20/2015 10/28/2015 11/20/2013 10/9/2015 5/20/2015 3/26/2014 12/29/2014 10/18/2012 1/23/2014 11/27/2012 2/19/2013 5/28/2013 3/6/2013 12/3/2012 1/22/2013 1/25/2013 1/29/2015 2/1/2013 2/5/2013 5/8/2013 FNMA 1.25% NON-CALL FFCB 1.30% NON-CALL FHLB .625% NON-CALL FNMA .50% CALL 5/28/14 QRTYL Y FHLB .55% BULLET FFCB .60% BULLET FHLB .50% ONE CALL 6/30/15 FHLMC .60% BULLET FHLB .875% NON-CALL FHLB .075% NON-CALL FNMA 1.125% NON-CALL FHLMC .70% CALL 5/8/15 ONE TIME FHLMC 1.25% NON-CALL FHLB .875% NON-CALL FNMA .075% CALL 12/28/13 QRTLY TVA 5.50% NON-CALL FHLMC 1.0% NON-CALL FHLMC 0.70% QRTLY CALL FFCB .700% CALL 11/26/13 QRTLY FHLB 0.75% NON-CALL FHLB 1.75% CALL 3/18/16 ONE CALL FHLB 1.05% CALL 9/26/14 ONE TIME STEP FHLB 1.05% CALL 12/29/15 CONT FFCB .87% CALL 10/18/13 CONT FFCB 1.160% NON-CALL FNMA 0.90% CALL 11/27/13 QRTLY FFCB .87% CALL 11/27/13 CONT FHLMC .75% CALL 5/28/15 ONE TIME FNMA 1.0% CALL 3/6/15 ONE TIME FHLB 2.625% NON-CALL FHLMC .95% CALL 1/22/15 QRTLY FAMCA .93% NON-CALL FHLB .750% CALL 1/29/16 STEP FAMCA 1.05% NON-CALL 2/20/2015 ---3/12/2013 FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FHLB 1.00% CALL 8/5/13 CONT FHLB 1.10% CALL 2/20/14 CONT FFCB 1.11% NON-CALL FFCB 1.03% CALL 3/12/14 CONT v PAR VALUE 4,000,000.00 5,000,000.00 5,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 1,000,000.00 500,000.00 2,000,000.00 5,000,000.00 2,500,000.00 5,000,000.00 5,000,000.00 3,000,000.00 4,000,000.00 3,000,000.00 3,000,000.00 3,500,000.00 1 ,250,000.00 5,000,000.00 2,000,000.00 4,000,000.00 2,000,000.00 500,000.00 2,125,000.00 3,000,000.00 2,000,000.00 2,000,000.00 2,500,000.00 2,000,000.00 3,000,000.00 5,000,000.00 2,000,000.00 4,000,000.00 2,000,000.00 5,000,000.00 3,050,000.00 3,000,000.00 3,350,000.00 5,000,000.00 2,000,000.00 5,000,000.00 5,000,000.00 1 ,000,000.00 2,500,000.00 5,000,000.00 INVESTED RETURN Weighted AMOUNT RATE Avg Yield 4,186,600.00 0.660% 0.0000880 4,998,750.00 0.484% 0.0000770 5,285,278.17 0.700% 0.0001178 2,000,000.00 2.500% 0.0001592 2,994,690.00 0.461% 0.0000439 3,000,672.00 0.580% 0.0000554 995,570.00 1.100% 0.0000349 504,332.50 0.970% 0.0000156 2,031,642.00 5,000,000.00 2,502,350.00 4,997,500.00 5,000,000.00 3,000,000.00 4,000,000.00 2,998,500.00 3,002,460.00 3,507,910.00 1,260,975.00 4,855,000.00 2,025,640.00 4,000,000.00 1,978,600.00 551,225.00 2,138,812.50 3,000,000.00 1,975,000.00 2,004,800.00 2,528,900.00 2,000,000.00 2,995,500.00 4,998,500.00 1 ,995,000.00 4,000,000.00 1 ,985,000.00 5,000,000.00 3,050,000.00 3,270,090.00 3,341,826.00 5,004,870.00 2,000,000.00 5,000,000.00 4,987,500.00 1,000,774.00 2,500,000.00 4,991,500.00 0.555% 1.300% 0.570% 0.514% 0.550% 0.600% 0.500% 0.613% 0.846% 0.580% 0.643% 1.515% 0.685% 0.875% 1.049% 0.742% 0.702% 0.700% 1.043% 0.622% 1.244% 1.050% 1.106% 0.876% 1.229% 1.100% 1.030% 0.750% 1.000% 0.790% 1.000% 0.910% 1.330% 1.000% 1.050% 1.080% 1.110% 1.065% 0.0000359 0.0002069 0.0000454 0.0000818 0.0000875 0.0000573 0.0000637 0.0000585 0.0000809 0.0000648 0.0000258 0.0002341 0.0000442 0.0001114 0.0000661 0.0000130 0.0000478 0.0000668 0.0000656 0.0000397 0.0001001 0.0000668 0.0001055 0.0001394 0.0000780 0.0001401 0.0000651 0.0001194 0.0000971 0.0000822 0.0001064 0.0001450 0.0000847 0.0001592 0.0001667 0.0000344 0.0000883 0.0001692 INTEREST 95,622.22 61,250.00 135,034.33 250,000.00 28,528.75 39,153.00 33,009.17 6,674.31 25,719.11 325,000.00 24,559.73 90,000.00 112,291.67 90,000.00 73,333.33 73,500.00 73,008.75 27,235.83 14,845.31 273,527.78 31,651.67 169,166.67 76,316.67 8,587.50 32,701.39 36,750.00 77,072.22 23,491.67 72,940.28 73,500.00 91 '125.00 219,000.00 92,000.00 180,000.00 98,036.67 168,750.00 144,875.00 124,753.75 167,299.00 227,500.83 80,000.00 262,354.17 262,500.00 51,842.67 83,250.00 266,000.00 INVESTMENT TERM RETURN (Days) 4,282,222.22 1,288 5,060,000.00 1,095 5,420,312.50 1,364 2,250,000.00 1,827 3,023,218.75 754 3,039,825.00 823 1 ,028,579.17 1 ,099 511,006.81 830 2,057,361.11 5,325,000.00 2,526,909.73 5,087,500.00 5,112,291.67 3,090,000.00 4,073,333.33 3,072,000.00 3,075,468.75 3,535,145.83 1,275,820.31 5,128,527.78 2,057,291.67 4, 169,166.67 2,054,916.67 559,812.50 2,171,513.89 3,036,750.00 2,052,072.22 2,028,291.67 2,601,840.28 2,073,500.00 3,086,625.00 5,217,500.00 2,087,000.00 4,180,000.00 2,083,036.67 5,168,750.00 3,194,875.00 3,394,843.75 3,509,125.00 5,232,370.83 2,080,000.00 5,262,354.17 5,250,000.00 1,052,616.67 2,583,250.00 5,257,500.00 839 1,827 631 1,280 1,491 1,461 1,340 1,461 1,050 489 671 1,340 836 1,765 1,337 795 800 639 1,358 689 852 1,280 1,005 1,826 1,369 1,826 1,742 1,645 1,736 1,831 1,826 1,825 1,096 1,824 1,826 1,749 1,096 1,826 ti:I :X ::r:: H td H ~ -.J INVESTMENT REPORT AS OF OCTOBER 31,2015 INVESTMENT PAR INVESTED RETURN Weighted INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE AvgYield INTEREST RETURN (Days) 5/712013 FA FHLB 1.00 CALL 3/20/15 CONT 3,000,000.00 3,000,000.00 1.000% 0.0000955 146,083.33 3,146,083.33 1,778 51712013 FA FHLB 1.05 CALL 9/20/13 CONT 3,000,000.00 3,000,000.00 1.050% 0.0001003 153,387.50 3,153,387.50 1,778 5/23/2013 FA FHLMC 1.050% CALL 4/30/14 QRTL Y 3,000,000.00 3,000,000.00 1.050% 0.0001003 155,487.50 3,155,487.50 1,803 5/18/2015 FA FNMA 1.125% CALL 10/30/15 QRTL Y 4,416,000.00 4,418,428.80 1.106% 0.0001555 144,127.20 4,562,556.00 1,078 8/5/2014 FA FNMA 0.875% NON-CALL 2,500,000.00 2,460,777.84 1.300% 0.0001018 122,225.63 2,583,003.47 1,385 5/30/2013 FA FHLB 1.050% CALL 7/4/13 CONT 3,000,000.00 2,964,750.00 1.050% 0.0000991 193,100.00 3,157,850.00 1,831 6/12/2013 FA FHLMC 1.20% CALL 9/12/13 QRTL Y 3,000,000.00 2,999,100.00 1.206% 0.0001151 180,900.00 3,180,000.00 1,826 6/13/2013 FA FNMA 0.80% CALL 12/13/13 QRTLY STEP 5,000,000.00 4,930,000.00 1.407% 0.0002208 351,250.00 5,281,250.00 1,826 6/20/2013 FA FNMA 1.25% CALL 12/20/13 QRTL Y 4,000,000.00 3,977,200.00 1.360% 0.0001722 272,800.00 4,250,000.00 1,826 10/19/2015 FA FFCB 1.03% CALL 1/13/16 CONT 3,000,000.00 3,000,000.00 1 030% 0.0000984 84,460.00 3,084,460.00 998 7/27/2015 FA FHLMC 1.150% CALL 7/27/16 ONE TIME 2,000,000.00 2,000,000.00 1.150% 0.0000732 69,000.00 2,069,000.00 1,096 1/15/2014 FA FHLMC 1.10% CALL 1/30/18 QRTL Y 1,000,000.00 980,870.00 1.538% 0.0000480 69,088.33 1 ,049,958.33 1,657 1/27/2015 FA FNMA 1.0% NON-CALL 1 '1 00,000.00 1 ,096,139.00 1.102% 0.0000384 42,452.67 1,138,591.67 1,280 5/1/2015 FA FFCB 1.24% CALL 5/7/15 CONT 1,095,000.00 1 ,095,000.00 1.240% 0.0000432 44,090.78 1,139,090.78 1,186 5/5/2014 FA FFCB 1.6% NON-CALL 2,500,000.00 2,515,710.93 1.450% 0.0001161 157,622.40 2,673,333.33 1,584 10/27/2015 FA FHLB 1.125% NON-CALL 4,000,000.00 4,020,840.00 0.941% 0.0001204 108,785.00 4,129,625.00 1,053 5/2/2014 FA FNMA 1.875% NON-CALL 1,500,000.00 1,524,000.00 1.500% 0.0000728 99,125.00 1 ,623,125.00 1,600 1/16/2014 FA FHLMC 1.20% CALL 9/24/14 ONE TIME 2,250,000.00 2,196,562.50 1.729% 0.0001209 180,037.50 2,376,600.00 1,712 1/8/2014 FA FFCB 1.250% CALL 1/14/14 CONT 1,750,000.00 1,705,900.00 1.808% 0.0000982 147,641.67 1 ,853,541.67 1,728 4/22/2015 FA FHLB 1.250% CALL 4/22/16 1,000,000.00 1,000,000.00 1.250% 0.0000398 43,750.00 1,043,750.00 1,279 3/30/2015 FA FHLB 1.30% NON-CALL 1,000,000.00 1,000,000.00 1.300% 0.0000414 46,583.33 1,046,583.33 1,310 4/8/2014 FA FHLB 1.2% CALL 4/21/14 Monthly 2,250,000.00 2,198,250.00 1.720% 0.0001203 176,475.00 2,374,725.00 1,688 5/2/2014 FA FNMA 1.625% NON-CALL 2,000,000.00 2,008,347.18 1.530% 0.0000978 140,159.76 2,148,506.94 1,670 6/3/2014 FA FNMA 1.625% NON-CALL 2,000,000.00 2,010,791.92 1.500% 0.0000960 134,826.14 2,145,618.06 1,638 7/21/2015 FA FNMA 1.50% NON-CALL 1,000,000.00 1 ,006,875.00 1.290% 0.0000413 43,500.00 1,050,375.00 1,228 5/15/2015 FA FNMA 1.25% CALL 6/14/15 QRTL Y 1 ,000,000.00 997,500.00 1.322% 0.0000420 47,256.94 1,044,756.94 1,309 6/5/2015 FA FHLB 1.75% NON-CALL 2,000,000.00 2,034,100.00 1.254% 0.0000812 16,625.00 2,050,725.00 1,288 2/20/2015 FA FNMA 1.1% NON-CALL 1,000,000.00 992,180.00 1.300% 0.0000411 49,925.56 1 ,042,105.56 1,397 6/30/2015 FA FHLB 1.4% CALL 6/24/16 ONE TIME 2,000,000.00 2,000,000.00 1.400% 0.0000891 97,533.33 2,097,533.33 1,273 4/6/2015 FA FHLB 1.30% CALL 3/30/16 1,500,000.00 1 ,500,000.00 1.300% 0.0000621 72,691.67 1,572,691.67 1,362 7/28/2015 FA FHLB 1.250% CALL 7/28/16 1,700,000.00 1,700,000.00 1.250% 0.0000676 72,604.17 1,772,604.17 1,249 10/28/2015 FA FFCB 1.15% CALL 1/28/16 4,650,000.00 4,648,837.50 1.158% 0.0001714 174,956.25 4,823,793.75 1,188 5/26/2015 FA FNMA 1.375% CALL 2/26/16 ONE TIME 1,500,000.00 1 ,501,395.00 1.350% 0.0000645 75,948.75 1,577,343.75 1,372 12/9/2014 FA FNMA 1.75% NON-CALL 2,500,000.00 2,515,625.00 1.596% 0.0001278 168,854.17 2,684,479.17 1,541 12/12/2014 FA FNMA 1.70% NON-CALL 1,852,000.00 1 ,863,630.56 1.545% 0.0000916 120,864.61 1,984,495.17 1,538 5/28/2015 FA FHLMC 1.5% CALL 8/28/15 QRTL Y 2,500,000.00 2,500,000.00 1.500% 0.0001194 140,625.00 2,640,625.00 1,372 10/6/2014 FA FHLB 1.875% NON-CALL 2,000,000.00 2,011 ,440.00 1.875% 0.0001200 154,393.33 2,165,833.33 1,614 1/29/2015 FA FHLMC 1.570% CALL 1/29/16 2,000,000.00 2,000,000.00 1.570% 0.0000999 134,450.00 2,134,450.00 1,551 6/6/2014 FA FHLMC 1.2% CALL 5/7/15 1,000,000.00 976,800.00 1.693% 0.0000526 82,233.33 1,059,033.33 1,796 1/8/2015 FA FNMA 1.75% CALL 11/24/15 SEMI-ANNUAL 550,000.00 550,000.00 1.750% 0.0000306 42,136.11 592,136.11 1,597 6/5/2015 FA FHLMC 1.75% NON-CALL 1,650,000.00 1,670,229.00 1.432% 0.0000761 94,869.96 1 ,765,098.96 1,455 7/10/2015 FA FHLMC 1.75% NON-CALL 1,000,000.00 1,015,100.00 1.350% 0.0000436 52,955.56 1,068,055.56 1,420 7/15/2015 FA FAMCA 1.50% NON-CALL 1,060,000.00 1 ,060,000.00 1.500% 0.0000506 62,230.83 1 '122,230.83 1,430 6/24/2015 FA FFCB 1.52% NON CALL 2,000,000.00 2,002,320.00 1.490% 0.0000950 119,280.00 2,121,600.00 1,461 6/26/2015 FA FFCB 1.52% NON-CALL 2,250,000.00 2,251 ,282.50 1.505% 0.0001078 135,327.50 2,386,610.00 1,459 6/30/2015 FA FHLMC 1.5% CALL 86/28/16 ONE TIME 2,300,000.00 2,300,000.00 1.500% 0.0001098 137,808.33 2,437,808.33 1,459 ---1/23/2015 FA FFCB 2.15% NON-CALL 3,250,000.00 3,354,097.50 1.410% 0.0001505 209,175.42 3,563,272.92 1,636 - INVESTMENT REPORT AS OF OCTOBER 31,2015 INVESTMENT PAR DATE TYPE 1/21/2015 FA 10/24/2014 FA 10/23/2014 FA 1/21/2015 FA 10/24/2014 FA 10/15/2015 FA 10/6/2015 FA 3/12/2015 FA 11/20/2014 FA 1121/2015 FA 6/15/2015 FA 6/15/2015 FA 6/24/2015 FA 10/5/2015 FA 4/6/2015 FA 4/1/2015 FA 4/1/2015 FA 4/1/2015 FA 10/20/2015 FA 4/29/2015 FA 4/29/2015 FA 5/1/2015 FA 5/26/2015 FA 5/27/2015 FA 6/12/2015 FA SECURITY FHLMC 1.25% NON-CALL FNMA 1.625% CALL 11/08/14 QRTL Y FHLB 2.00% NON-CALL FHLB 1.375% NON-CALL FNMA 1.55% CALL 1/15/15 QRTL Y FFCB 1.44% CALL 1/15/16 CONT FNMA 1.33% NON-CALL FHLB .50% CALL ONE TIME STEP FFCB 1.94% CALL 11/20/15 FNMA 1.25% CALL 2/21115 QRTL Y STEP FHLB 2.375% NON-CALL FFCB 2 0% CALL 12/30/15 CONT FHLMC 1.625% CALL 12/24/15 QRTLY FHLMC 1.40% NON-CALL FFCB 1.690% CALL 4/9/15 CONT FNMA 1.00% CALL 8/19/15 QRTL Y STEP FHLB 2.25% CALL 9/23/16 ONE TIME FNMA 1.70% CALL 3/30/16 QRTLY FFCB 1.625% CALL 1/20/16 CONT FHLMC 1.0% CALL 7/29/15 QRTL Y STEP FNMA 1.6% CALL 4/29/16 ONE CALL FNMA 1.55% CALL 4/29/16 ONE CALL FNMA 1.7% CALL 5/26/17 ONE CALL FNMA 1.8% CALL 5/27/16 ONE CALL FHLB 1.75% NON-CALL 7/15/2015 FA 10/27/2015 FA FHLMC 1.0% CALL 1/15/16 ONE TIME STEP FNMA 1.470% CALL 10/27/16 ONE TIME VALUE 2,500,000.00 2,500,000.00 1 ,500,000.00 2,000,000.00 1 ,000,000.00 3,000,000.00 4,183,000.00 1 ,000,000.00 2,250,000.00 2,500,000.00 3,370,000.00 1,950,000.00 1,500,000.00 3,500,000.00 1,500,000.00 2,000,000.00 2,750,000.00 1,099,000.00 5,000,000.00 1,500,000.00 2,000,000.00 2,650,000.00 3,000,000.00 1,750,000.00 3,000,000.00 4,000,000.00 5,000,000.00 1/23/2015 1/21/2015 4/1/2015 9/23/2015 3/3/2015 10/23/2015 FN FNMA 0% NON-CALL FN FICO 0% NON-CALL FN FICO 0% NON-CALL FN FICO 0% NON-CALL FN FNMA 0% NON-CALL FN RFCSP 0% NON-CALL 4/25/2014 TR US TREASURY 1.0% 9/18/2015 TR US TREASURY 1.875% 9/19/2014 TR US TREASURY 0.875% 7/21/2015 TR US TREASURY .50% 9/19/2014 TR US TREASURY 0.625% SUB-TOTAL 313,400,000.00 1,163,000.00 4,000,000.00 2,100,000.00 3,200,000.00 2,000,000.00 3,000,000.00 SUB-TOTAL 15,463,000.00 Federal Investments Total 328,863,000.00 -11/22/2013 TR US TREASURY .50% 3,000,000.00 2,500,000.00 3,000,000.00 2.000,000.00 1,000,000.00 2,000,000.00 ~ INVESTED AMOUNT 2,493,975.00 2,482,550.00 1,525,968.30 2 '000 ,440. 00 984,640.00 3,000,000.00 4,197,807.82 1 ,000,000.00 2,250,000.00 2,498,750.00 3,468,026.56 1,950,000.00 1 ,494,000.00 3,519,495.00 1 ,495,500.00 2,001,000.00 2,812,562.50 1 ,099,549.50 5,000,000.00 1 ,498,500.00 2,000,000.00 2,646,025.00 3,000,000.00 1,750,000.00 3,000,000.00 4,000,000.00 5,000,000.00 314,168,637.08 1 ,086,447.85 3,772,000.00 1 ,958,591.39 3,003,168.00 1,825,044.00 2,750,760.00 14,396,011.24 328,564,648.32 3,010,827.00 2,551,660.00 2,996,484.38 1,995,000.00 991,015.63 1,974,619.96 RETURN RATE 1.305% 1.778% 1.630% 1.370% 1.875% 1.440% 1.240% 2.075% 1.940% 1.250% 1.700% 2.000% 1.718% 1.265% 1.755% 2.097% 1.770% 1.690% 1.625% 2.109% 1.600% 1.581% 1.700% 1.800% 1.750% 1.000% 1.470% 1.179% Weighted Avg Yield 0.0001036 0.0001405 0.0000792 0.0000872 0.0000588 0.0001375 0.0001657 0.0000660 0.0001389 0.0000994 0.0001877 0.0001241 0.0000817 0.0001417 0.0000835 0.0001336 0.0001585 0.0000591 0.0002586 0.0001006 0.0001019 0.0001332 0.0001623 0.0001003 0.0001671 0.0001273 0.0002340 1.700% 0.0012830 1.400% 0.0036682 1.560% 0.0021224 1.590% 0.0033169 2.000% 0.0025355 1.750% 0.0033439 1.6270% 0.870% 0.0005112 0.805% 0.0004008 0.920% 0.0005380 0.642% 0.0002499 0.963% 0.0001862 0.850% 0.0003275 INTEREST 147,518.06 211,998.61 120,698.37 127,282.22 92,472.50 172,800.00 210,509.47 97,333.33 218,250.00 271,041.67 261,697.54 177,125.00 115,687.50 189,299.44 127,517.92 206,666.67 245,437.50 92,813.60 365,625.00 160,875.00 160,000.00 209,121.81 255,000.00 157,500.00 262,500.00 402,500.00 367,500.00 INVESTMENT RETURN 2,641 ,493.06 2,694,548.61 1,646,666.67 2,127,722.22 1 ,077,112.50 3,172,800.00 4,408,317.29 1 ,097,333.33 2,468,250.00 2,769,791.67 3,729,724.10 2,127,125.00 1,609,687.50 3,708,794.44 1,623,017.92 2,207,666.67 3,058,000.00 1,192,363.10 5,365,625.00 1,659,375.00 2,160,000.00 2,855,146.81 3,255,000.00 1 ,907,500.00 3,262,500.00 4,402,500.00 5,367,500.00 15,970,234.22 330,138,871.30 76,552.15 228,000.00 282,817.22 400,784.34 174,956.00 249,240.00 1,412,349.71 1 '163,000.00 4,000,000.00 2,241,408.61 3,403,952.34 2,000,000.00 3,000,000.00 15,808,360.95 17,382,583.93 345,947,232.25 77,123.82 39,772.01 72,136.54 22,771.74 25,838.88 62,282.21 3,087,950.82 2,591,432.01 3,068,620.92 2,017,771.74 1,016,854.51 2,036,902.17 TERM (Days) 1,653 1,749 1,786 1,696 1,817 1,461 1,479 1,706 1,826 1,765 1,642 1,659 1,644 1,557 1,774 1,785 1,818 1,825 1,644 1,827 1,827 1,825 1,827 1,827 1,827 1,827 1,824 1,466 1,470 1,535 1,639 1,464 1,681 1,819 3,005 2,235 1,071 713 954 649 985 1,347 INVESTMENT REPORT AS OF OCTOBER 31,2015 INVESTMENT PAR VALUE 1,000,000.00 2,000,000.00 1 ,500,000.00 2,000,000.00 2,500,000.00 1,700,00000 1.400,000.00 4,000,000.00 2,000,000.00 1,500,000.00 3,000,000.00 1,000,000.00 2,000,000.00 4,000,000.00 1,500,000.00 2,515,000.00 1,000,000.00 3,000,000.00 -\.;~ DATE 5/22/2015 7/21/2015 7/21/2015 3/5/2015 10/27/2015 7/21/2015 10/7/2014 7/16/2014 7/24/2014 1017/2014 8/5/2014 10/3/2014 6/5/2015 10/6/2015 7/2112015 8/1/2014 10/6/2014 9/22/2015 TYPE TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR SECURITY US TREASURY .50% US TREASURY .625% US TREASURY .625% US TREASURY .75% US TREASURY .75% US TREASURY .75% US TREASURY 1.375% US TREASURY 1.50% US TREASURY 1.50% US TREASURY 1.50% US TREASURY 1.25% US TREASURY 1.50% US TREASURY 1.50% US TREASURY 1.625% US TREASURY 1.5% US TREASURY 1.6250% US TREASURY 1.00% US TREASURY 2.125% SUB-TOTAL 51,115,000.00 2/10/2012 CN PROCTER & GAMBLE 1.80% NON-CALL 12/15/2010 CN BARCLAYS BANK 3.10% NON-CALL 12/15/2010 CN ROYAL BANK OF CANADA 2.625% NON-CALL 4/13/2012 CN PROCTER & GAMBLE 4.85% NON-CALL 10/31/2011 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 12/28/2011 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 1/25/2012 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 3/9/2012 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 2/8/2012 CN GENERAL ELECTRIC 1.55% NON-CALL FLOATER 5/6/2011 CN MASS MUTUAL GLOB 3.125% NON-CALL 5/16/2011 CN GENERAL ELECTRIC 2.95% NON-CALL 6/17/2011 CN GENERAL ELECTRIC 2.95% NON-CALL 9/12/2011 12/4/2012 9/13/2013 4/9/2015 9/4/2012 9/10/2013 10/27/2011 10/11/2011 1/23/2013 10/2/2012 9/22/2011 11/10/2011 CN CN CN CN CN CN CN CN CN CN CN CN GENERAL ELECTRIC 2.95% NON-CALL JOHNSON & JOHNSON 2.15% NON-CALL TOYOTA .80% NON-CALL NY LIFE GOLBAL 1.65% NON-CALL GOOGLE 2.125% NON-CALL CHEVRON CORP .889% NON CALL PROCTER & GAMBLE 1.45% NON-CALL BERKSHIRE HATHAWAY 2.20% NON-CALL PROCTER & GAMBLE 1.45% NON-CALL COCA COLA CA 1.8% NON-CALL TOYOTA 2.0% NON-CALL NEW YORK LIFE 2.45% NON-CALL 2,844,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 1 ,635,000.00 2,000,000.00 5,000,000.00 3,000,000.00 5,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 1,400,000.00 2,000,000.00 3,000,000.00 1,675,000.00 1 ,000,000.00 2,000,000.00 5,000,000.00 5,000,000.00 1 ,000,000.00 3,000,000.00 5,000,000.00 3,550,000.00 INVESTED AMOUNT 996,900.00 1,994,352.00 1 ,494,787.50 1 '989 ,531.25 2,506,045.00 1,691,765.61 1 ,400,251.69 4,009,600.00 2,006,348.00 1 ,505,664.36 2,974,200.00 1 ,000,000.00 2,015,296.00 4,083,992.00 1,505,156.25 2,500,019.15 964,920.00 3,085,500.00 51,243,935.78 2,965,410.36 2,000,000.00 2,038,220.00 1,147,830.00 1,695,247.73 2,063,239.83 5,189,924.57 3,169,646.15 5,000,000.00 1 ,024,175.57 2,000,912.32 2,009,952.38 1,427,513.33 2, 104,120.00 2,981,640.00 1,704,362.75 1 ,050,940.00 1,993,903.80 5,011 ,536.25 5,022,855.25 1,025,260.00 3,133,106.35 5,023,645.00 3,669,194.08 RETURN RATE 0.643% 0.760% 0.785% 0.950% 0.629% 0.932% 1.370% 1.496% 1.420% 1.400% 1.460% 1.500% 1.285% 1.010% 1.408% 1.750% 1.036% 2.097% 1.154% Weighted Avg Yield 0.0001250 0.0002958 0.0002290 0.0003688 0.0003076 0.0003077 0.0003744 0.0011706 0.0005560 0.0004114 0.0008474 0.0002927 0.0005054 0.0008049 0.0004136 0.0008538 0.0001951 0.0012626 0.650% 0.0001202 3.100% 0.0003866 2.220% 0.0002821 0.760% 0.0000544 2.200% 0.0002325 2.300% 0.0002959 2.120% 0.0006860 1.600% 0.0003162 1.390% 0.0004333 3.125% 0.0001996 2.940% 0.0003668 2.840% 0.0003559 2.500% 0.621% 1.032% 0.806% 2.125% 1.000% 1.400% 2.100% 0.730% 0.650% 1.900% 1.700% 0.0002225 0.0000815 0.0001919 0.0000856 0.0001392 0.0001243 0.0004375 0.0006577 0.0000467 0.0001270 0.0005951 0.0003889 INTEREST 14,066.85 32,040.66 25,781.15 50,289.19 31,658.80 42,582.75 73,191.24 237,900.00 116,749.83 82,035.92 184,665.49 63,627.72 94,344.88 142,442.43 81,708.50 219,213.54 84,085.52 229,396.98 2,105,706.65 71,270.64 310,000.00 225,009.16 30,272.78 154,062.17 189,017.11 428,999.04 190,249.68 227,500.00 130,164.71 292,940.46 278,819.84 164,875.84 44,110.56 82,626.67 28,676.00 6,197.92 55,682.64 336,463.75 510,033.64 26,376.11 78,243.65 474,410.56 287,655 64 INVESTMENT RETURN 1,010,966.85 2,026,392.66 1,520,568.65 2,039,820.44 2,537,703.80 1,734,348.36 1,473,442.93 4,247,500.00 2,123,097.83 1,587,700.28 3,158,865.49 1,063,627.72 2,109,640.88 4,226,434.43 1 ,586,864.75 2,719,232.69 1,049,005.52 3,314,896.98 53,349,642.43 3,036,681.00 2,310,000.00 2,263,229.16 1,178,102.78 1 ,849,309.90 2,252,256.94 5,618,923.61 3,359,895.83 5,227,500.00 1 '154,340.28 2,293,852.78 2,288 '772 .22 1,592,389.17 2,148,230.56 3,064,266.67 1,733,038.75 1 ,057,137.92 2,049,586.44 5,348,000.00 5,532,888.89 1,051 ,636.11 3,211,350.00 5,498,055.56 3,956,849.72 TERM (Days) 801 772 802 971 735 984 1,393 1,507 1,499 1,424 1,548 1,550 1,336 1,272 1,410 1,825 1,790 1,805 1,214 1,374 1,826 1,826 1,341 1,533 1,475 1,447 1,403 1,461 1,805 1,820 1,788 1,701 1,258 977 767 1,353 1,018 1,754 1,770 1,300 1,430 1,820 1,708 INVESTMENT REPORT AS OF OCTOBER 31,2015 INVESTMENT PAR VALUE 500,000.00 5,000,000.00 5,000,000.00 2,850,000.00 5,000,000.00 5,000,000.00 3,000,000.00 5,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 4,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 5,000,000.00 3,500,000.00 2,250,000.00 3,500,000.00 4,000,000.00 2,000,000.00 2,274,000.00 3,250,000.00 2,500,000.00 2,150,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,800,000.00 1,000,000.00 4,000,000.00 - DATE 9/18/2014 1/31/2012 1/31/2012 3/5/2012 8/6/2012 2/16/2012 4/18/2012 6/5/2012 6/12/2014 3/8/2013 5/27/2015 3/26/2013 10/29/2015 9/18/2014 1/27/2015 5/11/2015 5/15/2013 12/19/2014 2/19/2015 12/24/2013 10/28/2015 4/9/2015 4/6/2015 6/30/2015 10/8/2015 5/27/2015 7/16/2015 11/18/2014 4/9/2015 9/25/2015 9/25/2015 9/24/2015 TYPE CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN SECURITY COLGATE-PALMOLIVE 1.30% MAKE WHOLE CALL BERSHIRE HATHAWAY 1.90% NON-CALL HSBC BANK USA 2.5% FLOATING RATE BERSHIRE HATHAWAY 1.90% NON-CALL IBM CORP 1.250% NON-CALL WESTPAC BANKING CORP 2.3% NON-CALL WAL-MART STORES 5.375% NON-CALL HSBC BANK USA 1.925% FLOATER CHEVRON CORP 1.104% NON CALL WAL-MART 5.8% NON CALL WAL-MART 5.8% NON CALL COCA COLA CA 1.150% MAKE-WHOLE CALL WAL-MART STORES 1.125% MAKE WHOLE COLGATE-PALMOLIVE .90% MAKE WHOLE CALL COLGATE-PALMOLIVE .90% MAKE WHOLE CALL APPLE 1.0% MAKE WHOLE CALL BERKSHIRE HATAWAY 1.30% MAKE WHOLE CALL MASS MUTUAL GLOBAL 2.10% NON-CALL ROYAL BANK OF CANADA 2.00% NON-CALL COCA COLA CA 1.650% MAKE-WHOLE CALL JOHNSON & JOHNSON 1.65% MAKE WHOLE MICROSOFT 1.625% NON-CALL PEFCO 4.375% NON-CALL MASS MUTUAL GLOBAL 2.35% NON-CALL APPLE 2.10% MAKE WHOLE CALL IBM CORP 1.8750% NON-CALL TOYOTA 2.125% NON-CALL CHEVRON CORP 2.193% MAKE-WHOLE CALL NY LIFE GOLBAL 1.95% NON-CALL CVX 1.961% MAKE WHOLE CALL JOHNSON & JOHNSON 2.95% MAKE WHOLE AUTOMATIC DATA PROCESSING 2.25% MAKE-WHOLI SUB-TOTAL 156,678,000.00 11/7/2012 CD EAGLEBANK .60% 12/2/2011 CD MIDLAND STATES BANK 1.25% 2/10/2012 CD CARDINAL BANK MCLEAN VA .90% 2/6/2013 CD ORIENTAL BANK & TRUST .90% CALL 8/6/13 8/24/2012 CD FIRST BUSINESS BANK .60% 10/22/2012 CD NATIONAL BANK OF COMMERCE .50% 5/4/2012 CD HERITAGE BANK OF COMMERCE .80% 5/18/2012 5/22/2012 CD NORTH JERSEY COMMUNITY .85% CD STATE BANK & TRUST CO MACON, GA .80% " 5/31/2012 CD CRESCENT BANK & TRUST .90% 249,000.00 249,000.00 249,000.00 249,000.00 248,000.00 249,000.00 249,000.00 248,000.00 249,000.00 249,000.00 ....... . -... INVESTED AMOUNT 504,585.00 5,047,739.83 5,000,000.00 2,914,809.00 5,077,000.00 5,000,000.00 3,568,354.19 5,000,000.00 1,996,180.00 3,669,120.00 2,249,440.00 1,000,000.00 4,024,400.00 980,600.00 1,983,000.00 1,989,840.00 5,019,345.05 3,555,685.00 2,289,442.50 3,491,856.17 4,070,600.00 2,037,820.00 2,527,892.10 3,286,335.00 2,558,025.00 2,169,715.50 2,009,760.00 3,017,400.00 2,017,520.00 2,790,704.00 1 ,058,028.49 4,029,600.00 160,387,432.55 249,000.00 249,000.00 249,000.00 249,000.00 247,578.40 248,551.80 248,004.00 247,008.00 248,004.00 248,502.00 RETURN RATE 0.009% 1.700% 1.748% 1.418% 0.900% 2.300% 1.400% 1.037% 1.160% 1.140% 1.125% 1.150% 0.873% 1.452% 1.166% 1.174% 1.220% 1.645% 1.500% 1.700% 1.070% 1.096% 1.450% 2.040% 1.432% 1.635% 1.998% 2.070% 1.760% 2.039% 1.718% 2.090% 1.573% Weighted Avg Yield 0.0000003 0.0005350 0.0005449 0.0002577 0.0002849 0.0007170 0.0003115 0.0003233 0.0001444 0.0002608 0.0001578 0.0000717 0.0002191 0.0000888 0.0001442 0.0001457 0.0003818 0.0003647 0.0002141 0.0003701 0.0002716 0.0001393 0.0002285 0.0004180 0.0002284 0.0002212 0.0002504 0.0003894 0.0002214 0.0003548 0.0001133 0.0005251 0.600% 0.0000962 1.250% 0.0002004 0.900% 0.0001443 0.900% 0.0001443 0.600% 0.0000957 0.550% 0.0000880 0.900% 0.0001437 0.950% 0.0001511 0.900% 0.0001437 0.950% 0.0001520 INTEREST 10,527.50 427,260.17 425,000.00 200,676.42 204,250.00 574,680.56 229,833.31 342,500.00 80,670.67 189,763.33 65,693.33 57,627.78 85,850.00 51,975.00 75,700.00 69,715.56 305,654.95 210,344.17 123,307.50 288,391.75 134,183.33 81,075.83 138,254.46 251,980.62 129,808.33 140,190.75 160,476.11 311,001.75 171,196.67 253,026.51 87,504.84 418,150.00 INVESTMENT RETURN 515,112.50 5,475,000.00 5,425,000.00 3,115,485.42 5,281,250.00 5,574,680.56 3,798,187.50 5,342,500.00 2,076,850.67 3,858,883.33 2,315,133.33 1,057,627.78 4,110,250.00 1,032,575.00 2,058,700.00 2,059,555.56 5,325,000.00 3,766,029.17 2,412,750.00 3,780,247.92 4,204,783.33 2,118,895.83 2,666,146.56 3,538,315.62 2,687,833.33 2,309,906.25 2,170,236.11 3,328,401.75 2,188,716.67 3,043,730.51 1 '145,533.33 4,447,750.00 10,919,929.77 171,307,362.32 4,490.30 12,450.00 8,970.06 6,735.45 5,635.72 4,791.87 8,953.05 9,429.77 8,974.88 9,468.06 253,490.30 261,450.00 257,970.06 255,735.45 253,214 12 253,343.67 256,957.05 256,437.77 256.978 88 257,970 06 TERM (Days) 850 1,827 1,827 1,793 1,645 1,826 1,813 1,826 1,272 1,805 995 1,832 895 1,321 1,190 1,088 1,826 1,322 1,320 1,782 1,134 1,337 1,439 1,379 1,306 1,449 1,463 1,823 1,769 1,621 1,803 1,818 1,506 1,097 1,461 1,461 1,097 1,279 1,274 1,459 1,461 1,462 1,461 INVESTMENT DATE 8/15/2012 2/28/2012 12/24/2012 12/24/2012 12/11/2012 12/17/2012 12/11/2014 12/14/2014 12/14/2012 1/16/2013 1/16/2013 1/18/2013 1/23/2013 3/4/2013 1/30/2013 3/28/2013 4/5/2013 4/18/2013 4/30/2013 5/29/2015 6/4/2015 7/15/2015 7/24/2014 8/28/2014 8/29/2014 9/24/2014 9/24/2014 10/8/2014 10/10/2014 10/29/2014 11/3/2014 12/3/2014 12/4/2014 12/10/2014 12/23/2014 1/23/2015 7/24/2015 1/27/2015 1/30/2015 2/6/2015 3/3/2015 2/27/2015 3/25/2015 4/22/2015 ........_ 5/13/2015 ~ 6/29/2015 INVESTMENT REPORT AS OF OCTOBER 31,2015 TYPE CD co co co CD co co CD co co CD CD co CD CD co co co co co CD CD CD co co SECURITY EVERBANK .90% MERCANTILE BANK OF MICHIGAN 1.15% DELTA NATL BANK & TRUST .90% PACIFIC CONTL BANK .90% BANCO POPULAR DE PR HATO 1.1% FIRST AMERICAN BANK 1.0% ALLY BANK 1.55% FIRST BANK OF PUERTO RICO 1.25% BANKERS BANK KANSAS 1.0% THE BANK OF HOLLAND 1.00% BANK OF NORTHERN MICHIGAN 1.00% STEARNS BANK .90% FIRST FARMERS BANK & TRUST 1.0% GATEWAY BANK OF SW FLORIDA .95% FARMERS & MERCHANTS BANK .90% WASHINGTON FEDERAL SAVINGS 1.0% CALL BOSTON PRIVATE BANK & TRUST .95% CALL FIRST STATE BANK NE .95% CALL FOREST COMMERCIAL BANK .90% CALL COMPASS BANK BIRMINGHAM NON-CALL MEDALLION BANK SALT LAKE 1.25 % NON-CALL CAPTIAL ONE 1.95% NON-CALL AMERICAN EXPRESS BANK 2.00% ENERBANK USA 2.05% SYNCHRONY BANK 2.1% CO DISCOVER 2.15% CO GOLDMAN SACHS BANK2.15% CD CAPITALONEABANKUSA2.10% CD GE CAPITAL BANK 2.0% CO PEOPLES UTD BANK CT 1.9% CO WEBSTER BANK NAT'L ASSOC 1.9% CO CIT BANK SALT LAKE CITY 2.2% CO AMERICAN EXPRESS CENTURION 2.2% CD BMW BANK OF N AMERICA 2.15% CD SALLIE MAE BANK SALT LAKE 2.2% CO PRIVATE BANK & TRUST 1.90% CO EAGLE BANK 1.80% CO NORTHFIELD BANK 1.65% CD BANK OF GEORGETOWN 1.65% CO MACHIAS SAVINGS BANK 1.65% CD THIRD FEDERAL SAVING & LOAN 1.75% CO JP MORGAN CHASE BANK 2.0% CO WELLS FARGO BANK SIOUX FALLS 1.5% CO MARLIN BUSINESS BANK SALT LAKE 1.6% CD WORLD FOREMOST BANK SYDNEY 2 00% CD FIRST SOURCE BANK 1.85% PAR VALUE 248,000.00 248,000.00 249,000.00 249,000.00 248,000.00 249,000.00 247,000.00 249,000.00 249,000.00 249,000.00 249,000.00 249,000.00 249,000.00 209,000.00 249,000.00 249,000.00 248,000.00 249,000.00 249,000.00 248,000.00 249,000.00 249,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 249,000.00 249,000.00 249,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 200,000.00 247,000.00 INVESTED AMOUNT 247,008.00 247,380.00 248,377.50 248,452.20 248,000.00 248,253.00 247,000.00 249,000.00 248,502.00 248,751.00 248,751.00 248,253.00 248,626.50 208,373.00 248,253.00 248,253.00 247,008.00 248,502.00 248,253.00 248,000.00 249,000.00 249,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 245,641.50 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 247,000.00 249,000.00 249,000.00 249,000.00 247,000.00 246,407.20 247,000.00 247,000.00 247,000.00 200,000.00 246,382.50 RETURN RATE 0.900% 1.150% 0.952% 0.946% 1.100% 1.000% 1.550% 1.250% 1.000% 1.000% 1.000% 1.000% 1.000% 1.070% 0.900% 1.000% 1.032% 0.991% 0.960% 1.300% 1.250% 1.950% 2.000% 2.050% 2.100% Weighted Avg Yield 0.0001432 0.0001832 0.0001523 0.0001514 0.0001757 0.0001599 0.0002466 0.0002004 0.0001600 0.0001602 0.0001602 0.0001599 0.0001601 0.0001436 0.0001439 0.0001599 0.0001642 0.0001586 0.0001535 0.0002076 0.0002004 0.0003127 0.0003181 0.0003261 0.0003340 2.150% 0.0003420 2.150% 0.0003420 2.100% 0.0003340 2.000% 0.0003164 1.900% 0.0003022 1.900% 0.0003022 2.200% 0.0003500 2.200% 0.0003500 2.150% 0.0003420 2.200% 0.0003500 1.900% 0.0003022 1.800% 0.0002886 1.650% 0.0002646 1.650% 0.0002646 1.650% 0.0002625 1.754% 0.0002783 2.000% 0.0003181 1.500% 0.0002386 1.600% 0.0002545 2.000% 0.0002576 1.904% 0.0003021 INTEREST 9,926.11 14,895.62 11,624.88 11,556.33 13,595.16 13,128.78 11,485.50 15,562.50 12,948.00 12,699.00 12,699.00 11,952.00 12,823.50 10,367.28 11,952.00 13,197.00 12,765.55 12,325.50 11,952.00 9,672.00 9,337.50 19,422.00 24,700.00 25,317.50 25,935.00 26,552.50 26,552.50 25,935.00 26,058.50 23,465.00 23,465.00 27,170.00 27,170.00 26,552.50 26,976.46 23,465.00 20,169.00 20,542.50 20,542.50 20,377.50 22,14609 24,700.00 18,525.00 19,760.00 20,000.00 23,465.00 INVESTMENT RETURN 256,934.11 262,275.62 260,002.38 260,008.53 261,595.16 261,381.78 258,485.50 264,562.50 261,450.00 261,450.00 261,450.00 260,205.00 261,450.00 218,740.28 260,205.00 261,450.00 259,773.55 260,827.50 260,205.00 257,672.00 258,337.50 268,422.00 271,700.00 272,317.50 272,935.00 273,552.50 273,552.50 272,935.00 271,700.00 270,465.00 270,465.00 274,170.00 274,170.00 273,552.50 273,976.46 270,465.00 269,169.00 269,542.50 269,542.50 267,377.50 268,553.29 271,700.00 265,525.00 266,760.00 220,000.00 269,847.50 TERM (Days) 1,461 1,827 1,792 1,793 1,820 1,816 1,096 1,096 1,826 1,826 1,826 1,826 1,826 1,792 1,826 1,826 1,825 1,826 1,826 1,096 1,096 1,461 1,826 1,826 1,826 1,826 1,826 1,826 1,826 1,826 1,827 1,826 1,826 1,826 1,813 1,826 1,645 1,826 1,826 1,826 1,821 1,826 1,827 1,827 1,827 1,827 INVESTMENT REPORT AS OF OCTOBER 31,2015 INVESTMENT PAR INVESTED RETURN Weighted INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE Avg Yield INTEREST RETURN (Days) 7/31/2015 CD INSTITUTION FOR SAVINGS 2 05% 249,000.00 249,000.00 2.050% 0.0003287 25,522.50 274,522.50 1,827 8/21/2015 CD WESTERN STATE BANK 1.95% 249,000.00 248,377.50 2.000% 0.0003199 25,145.00 273,522.50 1,820 8/6/2015 CD ORRSTOWN BANK 2.0% 249,000.00 249,000.00 2.000% 0.0003207 24,706.33 273,706.33 1,841 8/11/2015 CD INVESTOR BANK 2.0% 247,000.00 247,000.00 2.000% 0.0003181 24,700.00 271,700.00 1,841 9/10/2015 CD MERRICK BANK 1.85% 249,000.00 248,377.50 1.910% 0.0003055 23,655.00 272,032.50 1,827 9/22/2015 CD BARCLAYS BANK 2.2% 248,000.00 248,000.00 2.200% 0.0003514 27,190.31 275,190.31 1,821 10/19/2015 CD COMENITY CAP BANK 2.0% 249,000.00 249,000.00 2.000% 0.0003207 24,818.14 273,818.14 1,821 SUB-TOTAL 15,546,000.00 15,527,830.60 1.482% 1 '1 01,066.20 16,628,896.80 1,688 0 WELLS FARGO BANK 580,627.00 580,627.00 0.020% 0.0000009 0.32 580,627.32 0 CORPORATE CASH MANAGEMENT ACCOUNT 2,862,616.23 2,862,616.23 0.020% 0.0000042 1.57 2,862,617.80 0 LIBRARY ACCOUNT 457.12 457.12 0.000% 457.12 0 UNION TRUST 11,578,823 02 11 ,578,823.02 0.000% 0.0000001 0.03 11,578,823.05 0 LA I F WATER DISTRICT 36,790,639.24 36,790,639.24 0.360% 0.0009741 367.91 36,791,007.15 0 LA IF PUBLIC IMPROVEMENT CORPORATION 20,336,927.62 20,336,927.62 0.360% 0.0005385 203.37 20,337,130.99 0 LA IF PUBLIC FINANCING CORPORATION 28,693,281.86 28,693,281.86 0.360% 0.0007597 286.93 28,693,568.79 0 LA I F CITY OF CARLSBAD 35,124,631.17 35,124,631.17 0.360% 0.0009300 351.25 35,124,982.42 SUB-TOTAL 135,968,003.26 135,968,003.26 0.321% 1,211.37 135,969,214.63 GRAND TOTAL 688,170,003.26 691,691,850.51 1.116% 31,510,497.92 723,202,348.43 --6'- CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF OCTOBER 31, 2015 Cash Balance by Fund: General Special Revenue Debt Service Capital Projects: General Capital Construction Traffic Impact Fees Public Facilities Fees Park Development Transnet Taxes Drainage Fees Special Districts Infrastructure Replacement Other Capital Construction Enterprise: Carlsbad Municipal Water District Sewer Fund Solid Waste Storm Water Golf Course Internal Service Agency Funds Trust Funds Total General Ledger Balance** Reconciling Adjustments (1) Total Total Total Treasurer's Investment Portfolio at Amortized Cost 49,934,426 21,692,145 26,922,414 8,172,051 5,259,386 6,379,141 88,559,381 94,064,594 2,972,759 115,473,677 54,730,865 7,324,881 5,272,992 2,013,889 EXHIBIT 8 97,198,273 43,994,812 0 303,956,297 184,816,305 40,642,142 14,644,133 244,012 685,495,975 3,690,227 689,186,202 (1) The Reconciling Adjustments consist of differences between the General Ledger which is prepared on an accrual basis and the Treasurer's report which is prepared on the cash basis. Accrued Interest, amortized premium or discounts and outstanding checks and deposits in transit are not included in the Treasurer's summary. Differences between the time journal entries are posted and the time this report is produced may also be a component of the adjustment. •• Figures based on best estimate at the time report run on 11/09/15 l ' EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of OCTOBER 31, 2015 CORPORATE NOTE AND COMMERCIAL PAPER RATINGS Corporate Note Investments Meeting the Current Investment Policy: (Ratings must be AA or better by two of the three: Moody's S&P or Fitch) Moody's S&P Fitch ADP AA3 AA NR APPLE AA1 AA+ AA+ BERKSHIRE HATAWAY AA2 AA A+ CHEVRON AA1 AA NR COCA COLA AA3 AA A+ COLGATE-PALMOLIVE AA3 AA-AA- cvx AA1 AA NR GOOGLE INC AA2 AA NR IBM CORP AA3 AA-A+ JOHNSON & JOHNSON AAA AAA AAA MASS MUTUAL GLOBAL AA2 AA+ AA+ MET LIFE GLOBAL AA3 AA-AA- MICROSOFT AAA AAA AA+ NEW YORK LIFE AAA AA+ AAA PRIVAT EXPORT FUNDING (PEFCC AAA A+ AAA PROCTER & GAMBLE AA3 AA-NR ROYAL BANK OF CANADA AA3 AA-AA TOYOTA AA3 AA-A WAL-MART AA2 AA AA WESTPAC BANKING CORP AA2 AA- AA- Commercial Paper Investments Meeting the Current Investment Policy: (Ratings must be A1/P1 or better by two of the three: Moody's, S&P or Fitch) (Ratings of other debt must be AA or better by two of the three: Moody's, S&P or Fitch) NONE Investments with Subsequent Changes in Credit Rating * Latest Carrying Moody's S&P Fitch Maturity Date Value BARCLAYS BANK A2 NR A 12/15/2015 2,000,000 GENERAL ELECTRIC A1 AA+ NR 05/09/2016 10,404,242 HSBC BANK USA A1 AA-NR 06/05/2017 10,000,000 • The City's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All of these investments are paying interest at the required times. The principal of all investments are considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. Market Value 2,001,300 10,473,928 9,813,000 )8 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF OCTOBER 31,2015 WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER Investment Cost Percent of Portfolio* ADP 4,029,600.00 0.58% APPLE INC 4,547,865.00 0.66% BARCLAYS BANK 2,000,000.00 0.29% BERKSHIRE HATHAWAY 18,004,749.14 2.60% CHEVRON 7,007,483.80 1.01% COCA COLA CO 7,624,962.52 1.10% COLGATE-PALMOLIVE 3,468,185.00 0.50% cvx 2,790,704.00 0.40% GENERAL ELECTRIC CAP 10,438,378.05 1.51% GOOGLE 1 ,050,940.00 0.15% HSBC BANK USA 10,000,000.00 1.45% IBM CORP 7,246,715.50 1.05% JOHNSON & JOHNSON 7,232,748.49 1.05% MASS MUTUAL 7,866,195.57 1.14% MET LIFE GLOBAL FUND 12,118,058.28 1.75% MICROSOFT 2,037,820.00 0.29% NEW YORK LIFE 7,391,076.83 1.07% PEFCO 2,527,892.10 0.37% PROTER & GAMBLE 10,150,036.61 1.47% ROYAL BANK OF CANADA 4,327,662.50 0.63% TOYOTA 10,015,045.00 1.45% WAL-MART 13,511,314.19 1.95% WESTPAC BANKING CORP 5,000,000.00 0.72% PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER Investment Cost Percent of Portfolio** FAMCA FICO FEDERAL FARM CREDIT BANK FEDERAL HOME LOAN BANK FEDERAL HOME LOAN MORTGAGE CORP FEDERAL NATIONAL MORTGAGE ASSOC RFCO STRIP PRINCIPAL TENNESSEE VALLEY AUTHORITY U.S.TREASURY Total Portfolio • No more than 5% may be invested with a single corporate issuer. **There are no percentage limits on federal agency issuers. 11 ,064,870.00 8, 733,759.39 67,212,300.93 88,037,333.36 58,004,410.00 92,209,989.65 2,750,760.00 551,225.00 51,243,935.78 1.60% 1.26% 9.72% 12.73% 8.39% 13.33% 0.40% 0.08% 7.41% $691,691,850.51 EXHIBIT 10 j~f