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HomeMy WebLinkAbout2016-02-23; City Council; 22224; Report on City Investments as of January 31, 2016CITY OF CARLSBAD -AGENDA BILL 6 AB# 22.224 MTG. 2/23/16 DEPT. IRS DEPT. HEAD CITY A. CITY MGR. REPORT ON CITY INVESTMENTS AS OF JANUARY 31, 2016 RECOMMENDED ACTION: Accept and file report. ITEM EXPLANATION: The city's Investment Policy requires the City Treasurer to report to the City Council on a monthly basis the status of the city's pooled investment portfolio. A quarterly report is also required for the investments of bond proceeds held separately. The city's pooled investment portfolio as of the month ended January 31, 2016 is summarized below. Pooled Investment Portfolio (Cash and Securities) Current Month Prior Month Par Value 710,490,265 698,025,978 Cost of Investments 713,576,361 701,244,915 Amortized Cost (1) 711,817,767 699,069,979 Market Value (2) 713,267,454 697,137,749 (1) The cost of investments adjusted for amortized premiums and discounts. (2) The amount at which the investments could be sold. Source of market values is Union Bank of California's custodial report as of 1/31/16. The equity portion of the various funds in the total portfolio is summarized in the graph on the next page. Fund balances are restricted for various purposes. See Exhibit 8 for a more detailed breakdown. The net increase between the December 2015 and January 2016 reports of approximately $12 million is due to the receipt of property tax, sales tax-in-lieu and vehicle-in-lieu payments totaling $11.6, $1.2, and $4.45 million respectively during the month of January. Construction expenditures during the month reduced the amount of the overall increase. DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancy.Sullivan@carlsbadca.gov FOR CLERKS USE. COUNCIL ACTION: APPROVED 0 CONTINUED TO DATE SPECIFIC 0 DENIED 0 CONTINUED TO DATE UNKNOWN 0 CONTINUED 0 RETURNED TO STAFF 0 WITHDRAWN 0 OTHER — SEE MINUTES 0 AMENDED 0 REPORT RECEIVED 02r----- FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) Special Revenue General $117 $44 Internal Service $42 Agency/Trust $20 --------- Enterprise $188 Capital Projects $ 301 Total Treasurer's Investment Portfolio at Amortized Cost January 31, 2016 $712 million Report on City Investments as of January 31, 2016 Meeting Date: February 23, 2016 Page 2 Pooled Investment Interest Income Current Month FYTD Prior Month FYTD Current Month Income Cash Income Fiscal Year-to-Date * 4,840,313 4,213,606 626,707 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement Average Life (Years) Average Yield To Maturity Modified Duration NOVEMBER 2015 2.01 1.163% 1.947 DECEMBER 2015 2.00 1.173% 1.940 JANUARY 2016 2.02 1.180% 1.967 All pooled investments have been made in accordance with the city's Investment Policy adopted January 2, 1985 and last revised January 12, 2016. 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. 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. Report on City Investments as of January 31, 2016 Meeting Date: February 23, 2016 Page 3 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. Third 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 JANUARY 31, 2016 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS Class AMORTIZED COST MARKET VALUE Cash Income Year to Date AVERAGE YIELD Current Month Prior Month Current Month Prior Month Current Month Prior Month CD 15,784,885 15,040,551 15,822,285 14,973,569 153,727 1.50 1.50 FN 18,057,263 18,035,190 18,116,782 17,854,888 0 1.41 1.41 TR 65,202,372 58,272,637 65,615,856 58,176,794 184,430 1.12 1.10 FA 337,376,840 325,089,647 338,284,585 324,160,746 2,368,122 1.22 1.19 CN 165,461,476 175,147,310 165,493,014 174,487,106 1,850,487 1.56 1.60 LAIF 104,737,496 102,990,209 104,737,496 102,990,209 283,273 0.45 0.38 CUSTODY 352 8,819 352 8,819 45 0.00 0.00 SWEEP 4,358,730 4,168,869 4,358,730 4,168,869 231 0.02 0.02 BANK ACCT 838,353 316,748 838,353 316,748 0 0.02 0.02 TOTALS $711,817,767 $699,069,979 $713,267,454 $697,137,749 4,840,313 1.18% 1.17% CD - Certificate of Deposit FN - Federal Discount Notes TR - US Treasury FA - Federal Agency CN - Corporate Notes LAIF - Local Agency Investment Fund Custody - Investment Cash account SWEEP - General Fund Overnight Cash acccount Bank Account - General Fund Cash account T IIHIHXa CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JANUARY 31, 2016 BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME CLASS WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR 1 TO 5 YEARS TOTAL % TOTAL CD 1,985,648 247,008 13,541,174 15,773,831 2.2% FN 3,490,976 0 14,396,011 17,886,987 2.5% TR 0 5,016,734 60,179,392 65,196,126 9.1% FA 15,278,718 36,905,567 285,489,198 337,673,482 47.3% CN 23,262,351 32,683,537 111,165,116 167,111,004 23.4% (2) LAIF 104,737,496 0 0 104,737,496 14.7% CUSTODY 352 0 0 352 0.0% SWEEP 4,358,730 0 0 4,358,730 0.6% BANK ACCT 838,353 0 0 838,353 0.1% TOTALS $153,952,625 (1) $74,852,845 (1) $484,770,891 $713,576,361 100.0% % TOTALS 21.6% 10.5% 67.9% 100.0% Total within One Year $228,805,470 (1) 32.1% POLICY: (1) Not less 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. ZLIIHX 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 0.25 0.00 1111111111111111111111111111111111111 111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 111111111111111111111 YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 2000 - JANUARY 2016 S IIE{IHXa tWN§skt‘cW)K4AVe\c,c,44,WWWA:We*N§csW.4csW, MARKET YIELD CURVE 6/30/14, 6/30/15, 1/31/16 Market Rates —0-6/30/2014 —16- 6/30/2015 4-1/31/2016 3 Mth 2 Yr 5 Yr 10 Yr .02 .46 1.63 2.53 .01 .65 1.65 2.35 .33 .78 1.33 1.92 t airaimxs Cumulative Cash Income FY15-16 (January 20 1 6) ••••* ..•••• .••••• or" / i.5 / 0.619 0 8.5•-4 0.7 0.73 0.7 0.6 0.63 mo` Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Interest Income ----Budget YTD 10 9 Cumulative Millions $ 8 7 6 5 4 3 2 1 0 Jul 8 7 6 5 4 3 2 1 0 S IIEEIHXa Monthly Interest Income Millions $ TRANSACTIONS FOR PERIOD: 01/01/16 TO Trans Investment Maturity Date Date Date 01/31/16 Type 3rd QUARTER 2015-2016 Security Call Date Par Value Coupon Amount (Cost) Return Rate Interest Investment Return BUYS JANUARY 01/04/16 01/05/16 12/31/20 TR US TREASURY N/A 4,000,000.00 2.375% 4,127,500.00 1.705% 346,195.05 4,473,695.05 01/07/16 01/08/16 12/30/16 FA FHLB 6/30/2016 2,875,000.00 0.800% 2,875,000.00 0.800% 22,488.89 2,897,488.89 01/11/16 01/12/16 01/09/20 FA FNMA 4/9/2016 1,500,000.00 1.570% 1,497,750.00 1.609% 96,253.75 1,594,003.75 01/11/16 01/14/16 01/14/21 FA FFCB 4/14/2016 4,000,000.00 1.940% 4,000,000.00 1.940% 388,000.00 4,388,000.00 01/11/16 01/15/16 01/15/21 CD INVESTORS COMMUNTIY BANI N/A 249,000.00 1.850% 249,000.00 1.850% 23,032.50 272,032.50 01/15/16 01/20/16 01/22/19 CD KEY BANK NATL ASSN OHIO N/A 247,000.00 1.550% 247,000.00 1.550% 11,528.04 258,528.04 01/19/16 01/27/16 01/27/20 FA FHLMC 4/27/2016 3,000,000.00 1.530% 3,000,000.00 1.530% 183,600.00 3,183,600.00 01/19/16 01/28/16 01/29/18 CD CUSTOMERS BANK N/A 248,000.00 1.200% 248,000.00 1.200% 5,960.27 253,960.27 01/20/16 01/21/16 07/29/20 FA FHLB N/A 2,500,000.00 1.830% 2,549,375.00 1.378% 157,516.67 2,706,891.67 01/25/16 01/26/16 01/07/21 FA FFCB 2/1/2016 1,000,000.00 1.820% 998,580.00 1.850% 91,459.44 1,090,039.44 01/25/16 01/28/16 07/13/18 CN TOYOTA N/A 2,000,000.00 1.550% 2,014,400.00 1.252% 61,808.33 2,076,208.33 01/26/16 01/27/16 05/27/20 FA FHLMC 2/27/2016 3,000,000.00 1.900% 3,003,120.00 1.875% 243,880.00 3,247,000.00 01/28/16 01/29/16 07/08/20 FA FFCB 4/8/2016 3,250,000.00 1.700% 3,252,275.00 1.680% 243,127.08 3,495,402.08 01/28/16 01/29/16 09/15/17 TR US TREASURY N/A 2,800,000.00 1.000% 2,809,078.13 0.800% 36,460.33 2,845,538.46 01/28/16 01/29/16 04/01/19 FA FHLB N/A 1,500,000.00 4.250% 1,643,640.00 1.166% 58,589.17 1,702,229.17 01/28/16 01/29/16 04/24/19 FA FHLMC 4/24/2016 480,000.00 1.350% 480,000.00 1.350% 20,970.00 500,970.00 FEBRUARY 1/25/2016 02/24/16 02/24/20 FA FHLMC 2/24/2017 1,750,000.00 1.500% 1,750,000.00 1.500% 105,000.00 1,855,000.00 01/25/16 02/10/16 02/12/18 CD CADENCE BANK N/A 248,000.00 1.250% 248,000.00 1.250% 6,217.22 254,217.22 TOTAL THIRD QUARTER 2015-2016 34,647,000.00 34,992,718.13 1.485% 2,102,086.74 37,094,804.87 MATURITIES 10/31/11 01/11/16 CN MET LIFE GLOBAL FUNDING N/A 1,635,000.00 3.125% 1,695,247.73 2.200% 154,062.17 1,849,309.90 12/28/11 01/11/16 CN MET LIFE GLOBAL FUNDING N/A 2,000,000.00 3.125% 2,063,239.83 2.300% 189,017.11 2,252,256.94 01/25/12 01/11/16 CN MET LIFE GLOBAL FUNDING N/A 5,000,000.00 3.125% 5,189,924.57 2.120% 428,999.04 5,618,923.61 03/09/12 01/11/16 CN MET LIFE GLOBAL FUNDING N/A 3,000,000.00 3.125% 3,169,646.15 1.600% 190,249.68 3,359,895.83 TOTAL THIRD QUARTER 2015-2016 11,635,000.00 12,118,058.28 2.026% 962,328.00 13,080,386.28 CALLS 06/25/15 07/15/15 07/15/20 FA FHLMC 1/15/2016 4,000,000.00 1% STEP 4,000,000.00 2.007% 402,500.00 4,402,500.00 12/08/14 12/29/14 09/29/17 FA FHLB 1/22/2016 3,000,000.00 1.050% 2,995,500.00 1.106% 91,125.00 3,086,625.00 01/07/15 01/29/15 01/29/18 FA FHLB 1/29/2016 2,000,000.00 0.75%STEP 2,000,000.00 1.100% 80,000.00 2,080,000.00 01/07/15 01/29/15 04/29/19 FA FHLMC 1/29/2016 2,000,000.00 1.570% 2,000,000.00 1.570% 133,450.00 2,133,450.00 TOTAL THIRD QUARTER 2015-2016 11,000,000.00 10,995,500.00 1.517% 707,075.00 11,702,575.00 9 IISIHXa INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JANUARY 31, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM !Days) 2/1/2013 FA FFCB .4% NON-CALL 5,000,000.00 4,998,750.00 0.484% 61,250.00 5,060,000.00 1,095 6/20/2012 FA FNMA 2.25% NON-CALL 5,000,000.00 5,285,278.17 0.700% 135,034.33 5,420,312.50 1,364 4/27/2011 FA FHLB 2.5% NON-CALL 2,000,000.00 2,000,000.00 2.500% 250,000.00 2,250,000.00 1,827 6/12/2014 FA FNMA .375% NON-CALL 3,000,000.00 2,994,690.00 0.461% 28,528.75 3,023,218.75 754 6/12/2014 FA FHLB .59% NON-CALL 3,000,000.00 3,000,672.00 0.580% 39,153.00 3,039,825.00 823 9/12/2013 FA FFCB .95% NON-CALL 1,000,000.00 995,570.00 1.100% 33,009.17 1,028,579.17 1,099 6/12/2014 FA FFCB .97% NON-CALL 500,000.00 504,332.50 0.970% 6,674.31 511,006.81 830 6/12/2014 FA FNMA 1.25% NON-CALL 2,000,000.00 2,031,642.00 0.555% 25,719.11 2,057,361.11 839 10/6/2011 FA FFCB 1.30% NON-CALL 5,000,000.00 5,000,000.00 1.300% 325,000.00 5,325,000.00 1,827 3/3/2015 FA FHLB .625% NON-CALL 2,500,000.00 2,502,350.00 0.570% 24,559.73 2,526,909.73 631 5/28/2013 FA FNMA .50% CALL 5/28/14 QRTYLY 5,000,000.00 4,997,500.00 0.514% 90,000.00 5,087,500.00 1,280 11/27/2012 FA FHLB .55% BULLET 5,000,000.00 5,000,000.00 0.550% 112,291.67 5,112,291.67 1,491 12/27/2012 FA FFCB .60% BULLET 3,000,000.00 3,000,000.00 0.600% 90,000.00 3,090,000.00 1,461 4/30/2013 FA FHLB .50% ONE CALL 6/30/15 4,000,000.00 4,000,000.00 0.500% 73,333.33 4,073,333.33 1,340 1/8/2016 FA FHLB .800% CALL 6/30/16 ONE TIME 2,875,000.00 2,875,000.00 0.800% 22,488.89 2,897,488.89 357 1/3/2013 FA FHLMC .60% BULLET 3,000,000.00 2,998,500.00 0.613% 73,500.00 3,072,000.00 1,461 4/25/2014 FA FHLB .875% NON-CALL 3,000,000.00 3,002,460.00 0.846% 73,008.75 3,075,468.75 1,050 10/30/2015 FA FHLB .075% NON-CALL 3,500,000.00 3,507,910.00 0.580% 27,235.83 3,535,145.83 489 6/26/2015 FA FNMA 1.125% NON-CALL 1,250,000.00 1,260,975.00 0.643% 14,845.31 1,275,820.31 671 9/6/2013 FA FHLMC .70% CALL 5/8/15 ONE TIME 5,000,000.00 4,855,000.00 1.515% 273,527.78 5,128,527.78 1,340 1/27/2015 FA FHLMC 1.25% NON-CALL 2,000,000.00 2,025,640.00 0.685% 31,651.67 2,057,291.67 836 8/16/2012 FA FHLB .875% NON-CALL 4,000,000.00 4,000,000.00 0.875% 169,166.67 4,169,166.67 1,765 10/30/2013 FA FNMA .075% CALL 12/28/13 QRTLY 2,000,000.00 1,978,600.00 1.049% 76,316.67 2,054,916.67 1,337 5/15/2015 FA TVA 5.50% NON-CALL 500,000.00 551,225.00 0.742% 8,587.50 559,812.50 795 5/20/2015 FA FHLMC 1.0% NON-CALL 2,125,000.00 2,138,812.50 0.702% 32,701.39 2,171,513.89 800 10/28/2015 FA FHLMC 0.70% QRTLY CALL 3,000,000.00 3,000,000.00 0.700% 36,750.00 3,036,750.00 639 11/20/2013 FA FFCB .700% CALL 11/26/13 QRTLY 2,000,000.00 1,975,000.00 1.043% 77,072.22 2,052,072.22 1,358 10/9/2015 FA FHLB 0.75% NON-CALL 2,000,000.00 2,004,800.00 0.622% 23,491.67 2,028,291.67 689 12/29/2015 FA FHLB .75% NON-CALL 1,000,000.00 995,550.00 1.020% 16,929.17 1,012,479.17 608 5/20/2015 FA FHLB 1.75% CALL 3/18/16 ONE CALL 2,500,000.00 2,528,900.00 1.244% 72,940.28 2,601,840.28 852 3/26/2014 FA FHLB 1.05% CALL 9/26/14 ONE TIME STEP 2,000,000.00 2,000,000.00 1.050% 73,500.00 2,073,500.00 1280 10/18/2012 FA FFCB .87% CALL 10/18/13 CONT 5,000,000.00 4,998,500.00 0.876% 219,000.00 5,217,500.00 1,826 1/23/2014 FA FFCB 1.160% NON-CALL . 2,000,000.00 1,995,000.00 1.229% 92,000.00 2,087,000.00 1,369 11/27/2012 FA FNMA 0.90% CALL 11/27/13 QRTLY 4,000,000.00 4,000,000.0Q 1.100% 180,000.00 4,180,000.00 1,826 2/19/2013 FA FFCB .87% CALL 11/27/13 CONT 2,000,000.00 1,985,000.00 1.030% 98,036.67 2,083,036.67 1,742 5/28/2013 FA FHLMC .75% CALL 5/28/15 ONE TIME 5,000,000.00 5,000,000.00 0.750% 168,750.00 5,168,750.00 1,645 3/6/2013 FA FNMA 1.0% CALL 3/6/15 ONE TIME 3,050,000.00 3,050,000.00 1.000% 144,875.00 3,194,875.00 1,736 12/3/2012 FA FHLB 2.625% NON-CALL 3,000,000.00 3,270,090.00 0.790% 124,753.75 3,394,843.75 1,831 1/22/2013 FA FHLMC .95% CALL 1/22/15 QRTLY 3,350,000.00 3,341,826.00 1.000% 167,299.00 3,509,125.00 1,826 1/25/2013 FA FAMCA .93% NON-CALL 5,000,000.00 5,004,870.00 0.910% 227,500.83 5,232,370.83 1,825 2/1/2013 FA FAMCA 1.05% NON-CALL 5,000,000.00 5,000,000.00 1.000% 262,354.17 5,262,354.17 1,824 2/5/2013 FA FHLB 1.00% CALL 8/5/13 CONT 3,333,333.50 3,325,000.17 1.050% 83,518.53 3,408,518.70 1,826 11/3/2015 FA FNMA .875% NON-CALL 2,700,000.00 2,700,891.00 0.860% 52,593.37 2,753,484.37 828 5/8/2013 FA FHLB 1.10% CALL 2/20/14 CONT 1,000,000.00 1,000,774.00 1.080% 51,842.67 1,052,616.67 1,749 2/20/2015 FA FFCB 1.11% NON-CALL 2,500,000.00 2,500,000.00 1.110% 83,250.00 2,583,250.00 1,096 3/12/2013 FA FFCB 1.03% CALL 3/12/14 CONT 5,000,000.00 4,991,500.00 1.065% 266,000.00 5,257,500.00 1,826 L IrilIHXa INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JANUARY 31, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM fkani 5/7/2013 FA FHLB 1.00 CALL 3/20/15 CONT 3,000,000.00 3,000,000.00 1.000% 146,083.33 3,146,083.33 1,778 5/7/2013 FA FHLB 1.05 CALL 9/20/13 CONT 3,000,000.00 3,000,000.00 1.050% 153,387.50 3,153,387.50 1,778 5/23/2013 FA FHLMC 1.050% CALL 4/30/14 QRTLY 3,000,000.00 3,000,000.00 1.050% 155,487.50 3,155,487.50 1,803 5/18/2015 FA FNMA 1.125% CALL 10/30/15 QRTLY 4,416,000.00 4,418,428.80 1.106% 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% 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% 193,100.00 3,157,850.00 1,831 6/12/2013 FA FHLMC 1.20% CALL 9/12/13 QRTLY 3,000,000.00 2,999,100.00 1.206% 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% 351,250.00 5,281,250.00 1,826 6/20/2013 FA FNMA 1.25% CALL 12/20/13 QRTLY 4,000,000.00 3,977,200.00 1.360% 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% 84,460.00 3,084,460.00 998 12/29/2015 FA FNMA 1.125% NON-CALL 1,000,000.00 997,610.00 1.220% 31,171.25 1,028,781.25 934 7/27/2015 FA FHLMC 1.150% CALL 7/27/16 ONE TIME 2,000,000.00 2,000,000.00 1.150% 69,000.00 2,069,000.00 1,096 12/29/2015 FA FHLB 1.220% CALL 7/27/16 ONE TIME 1,000,000.00 998,850.00 1.265% 32,598.89 1,031,448.89 941 1/15/2014 FA FHLMC 1.10% CALL 1/30/18 QRTLY 1,000,000.00 980,870.00 1.538% 69,088.33 1,049,958.33 1,657 1/27/2015 FA FNMA 1.0% NON-CALL 1,100,000.00 1,096,139.00 1.102% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 43,500.00 1,050,375.00 1,228 5/15/2015 FA FNMA 1.25% CALL 6/14/15 QRTLY 1,000,000.00 997,500.00 1.322% 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% 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% 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% 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% 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% 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% 174,956.25 4,823,793.75 1,188 11/2/2015 FA FNMA 1.20% CALL 4/29/16 5,000,000.00 4,992,500.00 1.247% 202,000.00 5,194,500.00 1,184 5/26/2015 FA FNMA 1.375% CALL 2/26/16 ONE TIME 1,500,000.00 1,501,395.00 1.350% 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% 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% 120,864.61 1,984,495.17 1,538 5/28/2015 FA FHLMC 1.5% CALL 8/28/15 QRTLY 2,500,000.00 2,500,000.00 1.500% 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% 154,393.33 2,165,833.33 1,614 1/29/2016 FA FHLB 4.250% NON-CALL 1,500,000.00 1,643,640.00 1.166% 20,895.83 1,664,535.83 1,158 1/29/2016 FA FHLMC 1.35% CALL 4/24/16 QRTLY 480,000.00 480,000.00 1.350% 20,970.00 500,970.00 1,181 6/6/2014 FA FHLMC 1.2% CALL 5/7/15 1,000,000.00 976,800.00 1.693% 82,233.33 1,059,033.33 1,796 6/5/2015 FA FHLMC 1.75% NON-CALL 1,650,000.00 1,670,229.00 1.432% 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% 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% 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% 119,280.00 2,121,600.00 1,461 INVESTMENT DATE TYPE INVESTMENT AS OF JANUARY SECURITY REPORT 31, 2016 PAR VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM lillay 6/26/2015 FA FFCB 1.52% NON-CALL 2,250,000.00 2,251,282.50 1.505% 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% 137,808.33 2,437,808.33 1,459 12/28/2015 FA FHLMC 1.0% CALL 3/28/16 QRTLY STEP 2,450,000.00 2,450,000.00 1.910% 165,375.00 2,615,375.00 1,278 1/23/2015 FA FFCB 2.15% NON-CALL 3,250,000.00 3,354,097.50 1.410% 209,175.42 3,563,272.92 1,636 1/21/2015 FA FHLMC 1.25% NON-CALL 2,500,000.00 2,493,975.00 1.305% 147,518.06 2,641,493.06 1,653 12/18/2015 FA FFCB 1.73% CALL 8/12/16 CONT 1,950,000.00 1,950,000.00 1.730% 123,132.75 2,073,132.75 1,333 12/18/2015 FA FNMA 1.7% CALL 2/28/16 QRTLY 1,446,000.00 1,444,554.00 1.728% 92,262.83 1,536,816.83 1,349 11/27/2015 FA FNMA 1.50% CALL 5/27/16 2,000,000.00 1,999,500.00 1.507% 113,000.00 2,112,500.00 1,369 10/23/2014 FA FHLB 2.00% NON-CALL 1,500,000.00 1,525,968.30 1.630% 120,698.37 1,646,666.67 1,786 1/21/2015 FA FHLB 1.375% NON-CALL 2,000,000.00 2,000,440.00 1.370% 127,282.22 2,127,722.22 1,696 10/24/2014 FA FNMA 1.55% CALL 1/15/15 QRTLY 1,000,000.00 984,640.00 1.875% 92,472.50 1,077,112.50 1,817 10/15/2015 FA FFCB 1.44% CALL 1/15/16 CONT 3,000,000.00 3,000,000.00 1.440% 172,800.00 3,172,800.00 1,461 10/6/2015 FA FNMA 1.33% NON-CALL 4,183,000.00 4,197,807.82 1.240% 210,509.47 4,408,317.29 1,479 12/22/2015 FA FHLMC 1.650% CALL 2/15/16 QRTLY 1,600,000.00 1,596 ,800.00 1.703% 106,086.67 1,702,886.67 1,424 1/21/2015 FA FNMA 1.25% CALL 2/21/15 QRTLY STEP 2,500,000.00 2,498,750.00 1.250% 271,041.67 2,769,791.67 1,765 6/15/2015 FA FHLB 2.375% NON-CALL 3,370,000.00 3,468,026.56 1.700% 261,697.54 3,729,724.10 1,642 12/28/2015 FA FHLMC 1.77% CALL 3/17/16 QRTLY 1,552,000.00 1,552,000.00 1.770% 108,965.92 1,660,965.92 1,450 12/30/2015 FA FFCB 1.72% CALL 12/30/16 2,600,000.00 2,600,000.00 1.720% 178,880.00 2,778,880.00 1,461 10/5/2015 FA FHLMC 1.40% NON-CALL 3,500,000.00 3,519,495.00 1.265% 189,299.44 3,708,794.44 1,557 1/12/2016 FA FNMA 1.57% CALL 4/9/16 QRTLY 1,500,000.00 1,497,750.00 1.609% 96,253.75 1,594,003.75 1,458 1/27/2016 FA FHLMC 1.53% QUARTERLY CALL 3,000,000.00 3,000,000.00 1.530% 183,600.00 3,183,600.00 1,461 4/6/2015 FA FFCB 1.690% CALL 4/9/15 CONT 1,500,000.00 1,495,500.00 1.755% 127,517.92 1,623,017.92 1,774 4/1/2015 FA FNMA 1.00% CALL 8/19/15 QRTLY STEP 2,000,000.00 2,001,000.00 2.097% 206,666.67 2,207,666.67 1,785 4/1/2015 FA FHLB 2.25°/o CALL 9/23/16 ONE TIME 2,750,000.00 2,812,562.50 1.770% 245,437.50 3,058,000.00 1,818 4/1/2015 FA FNMA 1.70% CALL 3/30/16 QRTLY 1,099,000.00 1,099,549.50 1.690% 92,813.60 1,192,363.10 1,825 10/20/2015 FA FFCB 1.625% CALL 1/20/16 CONT 5,000,000.00 5,000,000.00 1.625% 365,625.00 5,365,625.00 1,644 4/29/2015 FA FHLMC 1.0% CALL 7/29/15 QRTLY STEP 1,500,000.00 1,498,500.00 2.109% 160,875.00 1,659,375.00 1,827 4/29/2015 FA FNMA 1.6% CALL 4/29/16 ONE CALL 2,000,000.00 2,000,000.00 1.600% 160,000.00 2,160,000.00 1,827 5/1/2015 FA FNMA 1.55% CALL 4/29/16 ONE CALL 2,650,000.00 2,646,025.00 1.581% 209,121.81 2,855,146.81 1,825 5/26/2015 FA FNMA 1.7% CALL 5/26/17 ONE CALL 3,000,000.00 3,000,000.00 1.700% 255,000.00 3,255,000.00 1,827 5/27/2015 FA FNMA 1.8% CALL 5/27/16 ONE CALL 1,750,000.00 1,750,000.00 1.800% 157,500.00 1,907,500.00 1,827 1/27/2016 FA FHLMC 1.90% CALL 2/27/16 QRTLY 3,000,000.00 3,003,120.00 1.875% 243,880.00 3,247,000.00 1,582 6/12/2015 FA FHLB 1.75% NON-CALL 3,000,000.00 3,000,000.00 1.750% 262,500.00 3,262,500.00 1,827 12/23/2015 FA FHLB 1.95% CALL 3/23/16 CONT 2,500,000.00 2,498,000.00 1.960% 221,375.00 2,719,375.00 1,644 1/29/2016 FA FFCB 1.70% CALL 4/8/16 CONT 3,250,000.00 3,252,275.00 1.680% 243,127.08 3,495,402.08 1,622 1/21/2016 FA FHLB 1.83% NON-CALL 2,500,000.00 2,549,375.00 1.378% 157,516.67 2,706,891.67 1,651 10/27/2015 FA FNMA 1.470% CALL 10/27/16 ONE TIME 5,000,000.00 5,000,000.00 1.470% 367,500.00 5,367,500.00 1,824 1/26/2016 FA FFCB 1.82% CALL 2/1/16 CONT 1,000,000.00 998,580.00 1.850% 91,459.44 1,090,039.44 1,808 1/14/2016 FA FFCB 1.94% CALL 4/14/16 CONT 4,000,000.00 4,000,000.00 1.940% 388,000.00 4,388,000.00 1,827 SUB-TOTAL 336,886,333.50 337,673,482.25 1.217% 17,037,587.49 354,711,069.74 1,430 12/18/2015 FN FHLB 0% NON-CALL 3,500,000.00 3,490,975.83 0.520% 18,048.34 3,509,024.17 182 1/23/2015 FN FNMA 0% NON-CALL 1,163,000.00 1,086,447.85 1.700% 76,552.15 1,163,000.00 1,470 1/21/2015 FN FICO 0% NON-CALL 4,000,000.00 3,772,000.00 1.400% 228,000.00 4,000,000.00 1,535 4/1/2015 FN FICO 0% NON-CALL 2,100,000.00 1,958,591.39 1.560% 282,817.22 2,241,408.61 1,639 9/23/2015 FN FICO 0% NON-CALL 3,200,000.00 3,003,168.00 1.590% 400,784.34 3,403,952.34 1,464 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JANUARY 31, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM (Days) 3/3/2015 FN FNMA 0% NON-CALL 2,000,000.00 1,825,044.00 2.000% 174,956.00 2,000,000.00 1,681 10/23/2015 FN RFCSP 0% NON-CALL 3,000,000.00 2,750,760.00 1.750% 249,240.00 3,000,000.00 1,819 SUB-TOTAL 18,963,000.00 17,886,987.07 1.4109% 1,430,398.05 19,317,385.12 3,187 Federal Investments Total 355,849,333.50 355,560,469.32 18,467,985.54 374,028,454.86 2,309 11/3/2015 TR US TREASURY 1.0% 3,000,000.00 3,016,308.00 0.450% 13,444.75 3,029,752.75 363 11/3/2015 TR US TREASURY .50% 2,000,000.00 2,000,426.00 0.480% 10,311.70 2,010,737.70 393 4/25/2014 TR US TREASURY 1.0% 3,000,000.00 3,010,827.00 0.870% 77,123.82 3,087,950.82 1,071 9/18/2015 TR US TREASURY 1.875% 2,500,000.00 2,551,660.00 0.805% 39,772.01 2,591,432.01 713 9/19/2014 TR US TREASURY 0.875% 3,000,000.00 2,996,484.38 0.920% 72,136.54 3,068,620.92 954 7/21/2015 TR US TREASURY .50% 2,000,000.00 1,995,000.00 0.642% 22,771.74 2,017,771.74 649 9/19/2014 TR US TREASURY 0.625% 1,000,000.00 991,015.63 0.963% 25,838.88 1,016,854.51 985 11/22/2013 TR US TREASURY .50% 2,000,000.00 1,974,619.96 0.850% 62,282.21 2,036,902.17 1,347 5/22/2015 TR US TREASURY .50% 1,000,000.00 996,900.00 0.643% 14,066.85 1,010,966.85 801 7/21/2015 TR US TREASURY .625% 2,000,000.00 1,994,352.00 0.760% 32,040.66 2,026,392.66 772 1/29/2016 TR US TREASURY 1.00% 2,800,000.00 2,809,078.13 0.800% 36,460.33 2,845,538.46 595 7/21/2015 TR US TREASURY .625% 1,500,000.00 1,494,787.50 0.785% 25,781.15 1,520,568.65 802 3/5/2015 TR US TREASURY .75% 2,000,000.00 1,989,531.25 0.950% 50,289.19 2,039,820.44 971 10/27/2015 TR US TREASURY .75% 2,500,000.00 2,506,045.00 0.629% 31,658.80 2,537,703.80 735 7/21/2015 TR US TREASURY .75% 1,700,000.00 1,691,765.61 0.932% 42,582.75 1,734,348.36 984 10/7/2014 TR US TREASURY 1.375% 1,400,000.00 1,400,251.69 1.370% 73,191.24 1,473,442.93 1,393 7/16/2014 TR US TREASURY 1.50% 4,000,000.00 4,009,600.00 1.496% 237,900.00 4,247,500.00 1,507 7/24/2014 TR US TREASURY 1.50% 2,000,000.00 2,006,348.00 1.420% 116,749.83 2,123,097.83 1,499 10/7/2014 TR US TREASURY 1.50% 1,500,000.00 1,505,664.36 1.400% 82,035.92 1,587,700.28 1,424 8/5/2014 TR US TREASURY 1.25% 3,000,000.00 2,974,200.00 1.460% 184,665.49 3,158,865.49 1,548 12/29/2015 TR US TREASURY 1.25% 2,000,000.00 1,998,878.00 1.270% 72,069.80 2,070,947.80 1,037 10/3/2014 TR US TREASURY 1.50% 1,000,000.00 1,000,000.00 1.500% 63,627.72 1,063,627.72 1,550 6/5/2015 TR US TREASURY 1.50% 2,000,000.00 2,015,296.00 1.285% 94,344.88 2,109,640.88 1,336 10/6/2015 TR US TREASURY 1.625% 4,000,000.00 4,083,992.00 1.010% 142,442.43 4,226,434.43 1,272 7/21/2015 TR US TREASURY 1.5% 1,500,000.00 1,505,156.25 1.408% 81,708.50 1,586,864.75 1,410 8/1/2014 TR US TREASURY 1.6250% 2,515,000.00 2,500,019.15 1.750% 219,213.54 2,719,232.69 1,825 10/6/2014 TR US TREASURY 1.00% 1,000,000.00 964,920.00 1.036% 84,085.52 1,049,005.52 1,790 9/22/2015 TR US TREASURY 2.125% 3,000,000.00 3,085,500.00 2.097% 229,396.98 3,314,896.98 1,805 1/5/2016 TR US TREASURY 2.375% 4,000,000.00 4,127,500.00 1.705% 346,195.00 4,473,695.00 1,822 SUB-TOTAL 64,915,000.00 65,196,125.91 1.124% 2,584,188.23 67,780,314.14 1,150 2/8/2012 CN GENERAL ELECTRIC 1.55% NON-CALL FLOATER 5,000,000.00 5,000,000.00 1.390% 227,500.00 5,227,500.00 1,461 5/6/2011 CN MASS MUTUAL GLOB 3.125% NON-CALL 1,000,000.00 1,024,175.57 3.125% 130,164.71 1,154,340.28 1,805 5/16/2011 CN GENERAL ELECTRIC 2.95% NON-CALL 2,000,000.00 2,000,912.32 2.940% 292,940.46 2,293,852.78 1,820 6/17/2011 CN GENERAL ELECTRIC 2.95% NON-CALL 2,000,000.00 2,009,952.38 2.840% 278,819.84 2,288,772.22 1,788 9/12/2011 CN GENERAL ELECTRIC 2.95% NON-CALL 1,400,000.00 1,427,513.33 2.500% 164,875.84 1,592,389.17 1,701 12/4/2012 CN JOHNSON & JOHNSON 2.15% NON-CALL 2,000,000.00 2,104,120.00 0.621% 44,110.56 2,148,230.56 1,258 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JANUARY 31, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM Ifi:/Ey 9/13/2013 CN TOYOTA .80% NON-CALL 3,000,000.00 2,981,640.00 1.032% 82,626.67 3,064,266.67 977 4/9/2015 CN NY LIFE GOLBAL 1.65% NON-CALL 1,675,000.00 1,704,362.75 0.806% 28,676.00 1,733,038.75 767 9/4/2012 CN GOOGLE 2.125% NON-CALL 1,000,000.00 1,050,940.00 2.125% 6,197.92 1,057,137.92 1,353 9/10/2013 CN CHEVRON CORP .889% NON CALL 2,000,000.00 1,993,903.80 1.000% 55,682.64 2,049,586.44 1,018 10/27/2011 CN PROCTER & GAMBLE 1.45% NON-CALL 5,000,000.00 5,011,536.25 1.400% 336,463.75 5,348,000.00 1,754 10/11/2011 CN BERKSHIRE HATHAWAY 2.20% NON-CALL 5,000,000.00 5,022,855.25 2.100% 510,033.64 5,532,888.89 1,770 1/23/2013 CN PROCTER & GAMBLE 1.45% NON-CALL 1,000,000.00 1,025,260.00 0.730% 26,376.11 1,051,636.11 1,300 10/2/2012 CN COCA COLA CA 1.8% NON-CALL 3,000,000.00 3,133,106.35 0.650% 78,243.65 3,211,350.00 1,430 9/22/2011 CN TOYOTA 2.0% NON-CALL 5,000,000.00 5,023,645.00 1.900% 474,410.56 5,498,055.56 1,820 11/10/2011 CN NEW YORK LIFE 2.45% NON-CALL 3,550,000.00 3,669,194.08 1.700% 287,655.64 3,956,849.72 1,708 9/18/2014 CN COLGATE-PALMOLIVE 1.30% MAKE WHOLE CALL 500,000.00 504,585.00 0.009% 10,527.50 515,112.50 850 1/31/2012 CN BERSHIRE HATHAWAY 1.90% NON-CALL 5,000,000.00 5,047,739.83 1.700% 427,260.17 5,475,000.00 1,827 1/31/2012 CN HSBC BANK USA 2.5% FLOATING RATE 5,000,000.00 5,000,000.00 1.748% 425,000.00 5,425,000.00 1,827 3/5/2012 CN BERSHIRE HATHAWAY 1.90% NON-CALL 2,850,000.00 2,914,809.00 1.418% 200,676.42 3,115,485.42 1,793 8/6/2012 CN IBM CORP 1.250% NON-CALL 5,000,000.00 5,077,000.00 0.900% 204,250.00 5,281,250.00 1,645 2/16/2012 CN WESTPAC BANKING CORP 2.3% NON-CALL 5,000,000.00 5,000,000.00 2.300% 574,680.56 5,574,680.56 1,826 4/18/2012 CN WAL-MART STORES 5.375% NON-CALL 3,000,000.00 3,568,354.19 1.400% 229,833.31 3,798,187.50 1,813 6/5/2012 CN HSBC BANK USA 1.925% FLOATER 5,000,000.00 5,000,000.00 1.037% 342,500.00 5,342,500.00 1,826 6/12/2014 CN CHEVRON CORP 1.104% NON CALL 2,000,000.00 1,996,180.00 1.160% 80,670.67 2,076,850.67 1,272 3/8/2013 CN WAL-MART 5.8% NON CALL 3,000,000.00 3,669,120.00 1.140% 189,763.33 3,858,883.33 1,805 5/27/2015 CN WAL-MART 5.8% NON CALL 2,000,000.00 2,249,440.00 1.125% 65,693.33 2,315,133.33 995 3/26/2013 CN COCA COLA CA 1.150% MAKE-WHOLE CALL 1,000,000.00 1,000,000.00 1.150% 57,627.78 1,057,627.78 1,832 10/29/2015 CN WAL-MART STORES 1.125% MAKE WHOLE 4,000,000.00 4,024,400.00 0.873% 85,850.00 4,110,250.00 895 9/18/2014 CN COLGATE-PALMOLIVE .90% MAKE WHOLE CALL 1,000,000.00 980,600.00 1.452% 51,975.00 1,032,575.00 1,321 1/27/2015 CN COLGATE-PALMOLIVE .90% MAKE WHOLE CALL 2,000,000.00 1,983,000.00 1.166% 75,700.00 2,058,700.00 1,190 5/11/2015 CN APPLE 1.0% MAKE WHOLE CALL 2,000,000.00 1,989,840.00 1.174% 69,715.56 2,059,555.56 1,088 5/15/2013 CN BERKSHIRE HATAWAY 1.30% MAKE WHOLE CALL 5,000,000.00 5,019,345.05 1.220% 305,654.95 5,325,000.00 1,826 12/24/2015 CN CHEVRON CORP 1.718% MAKE WHOLE CALL 2,250,000.00 2,253,600.00 1.650% 93,037.50 2,346,637.50 913 12/31/2015 CN CHEVRON CORP 1.718% MAKE WHOLE CALL 1,000,000.00 996,300.00 1.871% 46,315.94 1,042,615.94 906 1/28/2016 CN TOYOTA 1:55% NON-CALL 2,000,000.00 2,014,400.00 1.252% 61,808.33 2,076,208.33 897 12/19/2014 CN MASS MUTUAL GLOBAL 2.10% NON-CALL 3,500,000.00 3,555,685.00 1.645% 210,344.17 3,766,029.17 1,322 2/19/2015 CN ROYAL BANK OF CANADA 2.00% NON-CALL 2,250,000.00 2,289,442.50 1.500% 123,307.50 2,412,750.00 1,320 12/24/2013 CN COCA COLA CA 1.650% MAKE-WHOLE CALL 3,500,000.00 3,491,856.17 1.700% 288,391.75 3,780,247.92 1,782 10/28/2015 CN JOHNSON & JOHNSON 1.65% MAKE WHOLE 4,000,000.00 4,070,600.00 1.070% 134,183.33 4,204,783.33 1,134 4/9/2015 CN MICROSOFT 1.625% NON-CALL 2,000,000.00 2,037,820.00 1.096% 81,075.83 2,118,895.83 1,337 4/6/2015 CN PEFCO 4.375% NON-CALL 2,274,000.00 2,527,892.10 1.450% 138,254.46 2,666,146.56 1,439 12/22/2015 CN EXXON MOBIL 1.819% NON-CALL 1,250,000.00 1,259,125.00 1.580% 64,329.76 1,323,454.76 1,179 6/30/2015 CN MASS MUTUAL GLOBAL 2.35% NON-CALL 3,250,000.00 3,286,335.00 2.040% 251,980.62 3,538,315.62 1,379 10/8/2015 CN APPLE 2.10% MAKE WHOLE CALL 2,500,000.00 2,558,025.00 1.432% 129,808.33 2,687,833.33 1,306 5/27/2015 CN IBM CORP 1.8750% NON-CALL 2,150,000.00 2,169,715.50 1.635% 140,190.75 2,309,906.25 1,449 7/16/2015 CN TOYOTA 2.125% NON-CALL 2,000,000.00 2,009,760.00 1.998% 160,476.11 2,170,236.11 1,463 11/18/2014 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 3,000,000.00 3,017,400.00 2.070% 311,001.75 3,328,401.75 1,823 12/22/2015 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 2,800,000.00 2,811,200.00 2.083% 228,105.03 3,039,305.03 1,424 4/9/2015 CN NY LIFE GOLBAL 1.95% NON-CALL 2,000,000.00 2,017,520.00 1.760% 171,196.67 2,188,716.67 1,769 9/25/2015 CN CVX 1.961% MAKE WHOLE CALL 2,800,000.00 2,790,704.00 2.039% 253,026.51 3,043,730.51 1,621 11/4/2015 CN EXXON MOBIL 1.912% MAKE WHOLE CALL 5,000,000.00 5,057,700.00 1.630% 357,097.78 5,414,797.78 1,584 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JANUARY 31, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM (Days) 11/3/2015 CN APPLE 2.0% MAKE WHOLE CALL 4,000,000.00 4,028,000.00 1.837% 332,666.66 4,360,666.66 1,646 11/3/2015 CN MMM 2.0% MAKE WHOLE CALL 3,500,000.00 3,554,21-5.00 1.660% 279,062.78 3,833,277.78 1,739 9/25/2015 CN JOHNSON & JOHNSON 2.95% MAKE WHOLE 1,000,000.00 1,058,028.49 1.718% 87,504.84 1,145,533.33 1,803 9/24/2015 CN AUTOMATIC DATA PROCESSING 2.25% MAKE-WHOLI 4,000,000.00 4,029,600.00 2.090% 418,150.00 4,447,750.00 1,818 11/10/2015 CN MICROSOFT 2.00% MAKE WHOLE CALL 5,000,000.00 5,018,550.00 1.920% 479,505.56 5,498,055.56 1,820 SUB-TOTAL 163,999,000.00 167,111,003.91 1.564% 11,262,978.53 178,373,982.44 1,478 2/10/2012 CD CARDINAL BANK MCLEAN VA .90% 249,000.00 249,000.00 0.900% 8,970.06 257,970.06 1,461 2/6/2013 CD ORIENTAL BANK & TRUST .90% CALL 8/6/13 249,000.00 249,000.00 0.900% 6,735.45 255,735.45 1,097 8/24/2012 CD FIRST BUSINESS BANK .60% 248,000.00 247,578.40 0.600% 5,635.72 253,214.12 1,279 10/22/2012 CD NATIONAL BANK OF COMMERCE .50% 249,000.00 248,551.80 0.550% 4,791.87 253,343.67 1,274 5/4/2012 CD HERITAGE BANK OF COMMERCE .80% 249,000.00 248,004.00 0.900% 8,953.05 256,957.05 1,459 5/18/2012 CD NORTH JERSEY COMMUNITY .85% 248,000.00 247,008.00 0.950% 9,429.77 256,437.77 1,461 5/22/2012 CD STATE BANK & TRUST CO MACON, GA .80% 249,000.00 248,004.00 0.900% 8,974.88 256,978.88 1,462 5/31/2012 CD CRESCENT BANK & TRUST .90% 249,000.00 248,502.00 0.950% 9,468.06 257,970.06 1,461 8/15/2012 CD EVERBANK .90% 248,000.00 247,008.00 0.900% 9,926.11 256,934.11 1,461 2/28/2012 CD MERCANTILE BANK OF MICHIGAN 1.15% 248,000.00 247,380.00 1.150% 14,895.62 262,275.62 1,827 12/24/2012 CD DELTA NATL BANK & TRUST .90% 249,000.00 248,377.50 0.952% 11,624.88 260,002.38 1,792 12/24/2012 CD PACIFIC CONTL BANK .90% 249,000.00 248,452.20 0.946% 11,556.33 260,008.53 1,793 12/11/2012 CD BANCO POPULAR DE PR HATO 1.1% 248,000.00 248,000.00 1.100% 13,595.16 261,595.16 1,820 12/17/2012 CD FIRST AMERICAN BANK 1.0% 249,000.00 248,253.00 1.000% 13,128.78 261,381.78 1,816 12/11/2014 CD ALLY BANK 1.55% 247,000.00 247,000.00 1.550% 11,485.50 258,485.50 1,096 12/14/2014 CD FIRST BANK OF PUERTO RICO 1.25% 249,000.00 249,000.00 1.250% 15,562.50 264,562.50 1,096 12/14/2012 CD BANKERS BANK KANSAS 1.0% 249,000.00 248,502.00 1.000% 12,948.00 261,450.00 1,826 1/16/2013 CD THE BANK OF HOLLAND 1.00% 249,000.00 248,751.00 1.000% 12,699.00 261,450.00 1,826 1/16/2013 CD BANK OF NORTHERN MICHIGAN 1.00% 249,000.00 248,751.00 1.000% 12,699.00 261,450.00 1,826 1/18/2013 CD STEARNS BANK .90% 249,000.00 248,253.00 1.000% 11,952.00 260,205.00 1,826 1/23/2013 CD FIRST FARMERS BANK & TRUST 1.0% 249,000.00 248,626.50 1.000% 12,823.50 261,450.00 1,826 3/4/2013 CD GATEWAY BANK OF SW FLORIDA .95% 209,000.00 208,373.00 1.070% 10,367.28 218,740.28 1,792 1/29/2016 CD CUSTOMERS BANK 1.20% 248,000.00 248,000.00 1.200% 5,960.27 253,960.27 731 1/30/2013 CD FARMERS & MERCHANTS BANK .90% 249,000.00 248,253.00 0.900% 11,952.00 260,205.00 1,826 3/28/2013 CD WASHINGTON FEDERAL SAVINGS 1.0% CALL 249,060.00 248,253.00 1.000% 13,197.00 261,450.00 1,826 4/5/2013 CD BOSTON PRIVATE BANK & TRUST .95% CALL 248,000.00 247,008.00 1.032% 12,765.55 259,773.55 1,825 4/18/2013 CD FIRST STATE BANK NE .95% CALL 249,000.00 248,502.00 0.991% 12,325.50 260,827.50 1,826 4/30/2013 CD FOREST COMMERCIAL BANK .90% CALL 249,000.00 248,253.00 0.960% 11,952.00 260,205.00 1,826 5/29/2015 CD COMPASS BANK BIRMINGHAM NON-CALL 248,000.00 248,000.00 1.300% 9,672.00 257,672.00 1,096 6/4/2015 CD MEDALLION BANK SALT LAKE 1.25% NON-CALL 249,000.00 249,000.00 1.250% 9,337.50 258,337.50 1,096 1/20/2016 CD KEY BANK NATL ASSN OHIO 1.55% 247,000.00 247,000.00 1.550% 11,528.04 258,528.04 1,098 7/15/2015 CD CAPTIAL ONE 1.95% NON-CALL 249,000.00 249,000.00 1.950% 19,422.00 268,422.00 1,461 7/24/2014 CD AMERICAN EXPRESS BANK 2.00% 247,000.00 247,000.00 2.000% 24,700.00 271,700.00 1,826 8/28/2014 CD ENERBANK USA 2.05% 247,000.00 247,000.00 2.050% 25,317.50 272,317.50 1,826 8/29/2014 CD SYNCHRONY BANK 2.1% 247,000.00 247,000.00 2.100% 25,935.00 272,935.00 1,826 9/24/2014 CD DISCOVER 2.15% 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 1,826 9/24/2014 CD GOLDMAN SACHS BANK 2.15% 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 1,826 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JANUARY 31, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM (Days) 10/8/2014 CD CAPITAL ONE ABANK USA 2.10% 247,000.00 247,000.00 2.100% 25,935.00 272,935.00 1,826 10/10/2014 CD GE CAPITAL BANK 2.0% 247,000.00 245,641.50 2.000% 26,058.50 271,700.00 1,826 10/29/2014 CD PEOPLES UTD BANK CT 1.9% 247,000.00 247,000.00 1.900% 23,465.00 270,465.00 1,826 11/3/2014 CD WEBSTER BANK NAT'L ASSOC 1.9% 247,000.00 247,000.00 1.900% 23,465.00 270,465.00 1,827 12/3/2014 CD CIT BANK SALT LAKE CITY 2.2°/o 247,000.00 247,000.00 2.200% 27,170.00 274,170.00 1,826 12/4/2014 CD AMERICAN EXPRESS CENTURION 2.2% 247,000.00 247,000.00 2.200% 27,170.00 274,170.00 1,826 12/10/2014 CD BMW BANK OF N AMERICA 2.15% 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 1,826 12/23/2014 CD SALLIE MAE BANK SALT LAKE 2.2% 247,000.00 247,000.00 2.200% 26,976.46 273,976.46 1,813 1/23/2015 CD PRIVATE BANK & TRUST 1.90% 247,000.00 247,000.00 1.900% 23,465.00 270,465.00 1,826 7/24/2015 CD EAGLE BANK 1.80% 249,000.00 249,000.00 1.800% 20,169.00 269,169.00 1,645 1/27/2015 CD NORTHFIELD BANK 1.65% 249,000.00 249,000.00 1.650% 20,542.50 269,542.50 1,826 1/30/2015 CD BANK OF GEORGETOWN 1.65% 249,000.00 249,000.00 1.650% 20,542.50 269,542.50 1,826 2/6/2015 CD MACHIAS SAVINGS BANK 1.65% 247,000.00 247,000.00 1.650% 20,377.50 267,377.50 1,826 3/3/2015 CD THIRD FEDERAL SAVING & LOAN 1.75% 247,000.00 246,407.20 1.754% 22,146.09 268,553.29 1,821 2/27/2015 CD JP MORGAN CHASE BANK 2.0% 247,000.00 247,000.00 2.000% 24,700.00 271,700.00 1,826 3/25/2015 CD WELLS FARGO BANK SIOUX FALLS 1.5% 247,000.00 247,000.00 1.500% 18,525.00 265,525.00 1,827 4/22/2015 CD MARLIN BUSINESS BANK SALT LAKE 1.6% 247,000.00 247,000.00 1.600% 19,760.00 266,760.00 1,827 5/13/2015 CD WORLD FOREMOST BANK SYDNEY 2.00% 200,000.00 200,000.00 2.000% 20,000.00 220,000.00 1,827 6/29/2015 CD FIRST SOURCE BANK 1.85% 247,000.00 246,382.50 1.904% 23,465.00 269,847.50 1,827 7/31/2015 CD INSTITUTION FOR SAVINGS 2.05% 249,000.00 249,000.00 2.050% 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% 25,145.00 273,522.50 1,820 8/6/2015 CD ORRSTOWN BANK 2.0% 249,000.00 249,000.00 2.000% 24,706.33 273,706.33 1,841 8/11/2015 CD INVESTOR BANK 2.0% 247,000.00 247,000.00 2.000% 24,700.00 271,700.00 1,841 9/10/2015 CD MERRICK BANK 1.85% 249,000.00 248,377.50 1.910% 23,655.00 272,032.50 1,827 9/22/2015 CD BARCLAYS BANK 2.2% 248,000.00 248,000.00 2.200% 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% 24,818.14 273,818.14 1,821 1/15/2016 CD INVESTORS CMNTY BANK 1.85% 249,000.00 249,000.00 1.850% 23,032.50 272,032.50 1,827 SUB-TOTAL 15,792,000.00 15,773,830.60 1.502% 1,124,646.71 16,898,477.31 1,679 0 WELLS FARGO BANK 838,141.00 838,141.00 0.020% 0.46 838,141.46 1 0 CORPORATE CASH MANAGEMENT ACCOUNT 4,358,730.07 4,358,730.07 0.020% 2.39 4,358,732.46 1 0 LIBRARY ACCOUNT 212.35 212.35 0.000% - 212.35 1 0 UNION TRUST 351.83 351.83 0.000% - 351.83 1 0 LA I F WATER DISTRICT 30,866,746.02 30,866,746.02 0.450% 385.83 30,867,131.85 1 0 LA I F PUBLIC IMPROVEMENT CORPORATION 20,355,750.10 20,355,750.10 0.450% 254.45 20,356,004.55 1 0 LA I F PUBLIC FINANCING CORPORATION 24,469,000.00 24,469,000.00 0.450% 305.86 24,469,305.86 1 0 LA I F CITY OF CARLSBAD 29,046,000.00 29,046,000.00 0.450% 363.08 29,046,363.08 1 SUB-TOTAL 109,934,931.37 109,934,931.37 0.430% 1,312.07 109,936,243.44 GRAND TOTAL 710,490,264.87 713,576,361.11 1.180% 33,441,111.08 747,017,472.19 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF JANUARY 31, 2016 Cash Balance by Fund: General 117,132,326 Special Revenue 43,997,762 Debt Service 0 Capital Projects: General Capital Construction 46,937,506 Traffic Impact Fees 21,502,788 Public Facilities Fees 26,020,753 Park Development 8,164,808 Transnet Taxes 5,679,211 Drainage Fees 6,366,309 Special Districts 89,619,011 Infrastructure Replacement 93,727,450 Other Capital Construction 3,168,553 Total 301,186,389 Enterprise: Carlsbad Municipal Water District 120,504,175 Sewer Fund 52,425,433 Solid Waste 7,343,749 Storm Water 5,423,488 Golf Course 2,026,377 Total 187,723,222 Internal Service 41,380,680 Agency Funds 19,358,663 Trust Funds 341,494 Total General Ledger Balance** 711,120,535 Reconciling Adjustments (1) 697,231 Total Treasurer's Investment Portfolio at Amortized Cost 711,817,767 (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 02/05/16 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of JANUARY 31, 2016 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) Moodys 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- EXXON MOBIL AAA AAA NR GOOGLE INC AA2 AA NR IBM CORP AA3 AA- A+ JOHNSON & JOHNSON AAA AAA AAA MASS MUTUAL GLOBAL AA2 AA+ AA+ MICROSOFT AAA AAA AA+ 3M COMPANY AA3 AA- NR NEW YORK LIFE AAA AM- AAA PRIVATE EXPORT FUNDING (PEFCO) 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 Al/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 Market Moody's S&P Fitch Maturity Date Value Value GENERAL ELECTRIC CAP Al AA+ NR 05/09/2016 10,402,211 10,432,866 HSBC BANK USA Al AA- NR 06/05/2017 10,000,000 9,822,500 * 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. EXHIBIT 10 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JANUARY 31, 2016 WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER Investment Cost Percent of Portfolio* ADP 4,029,600.00 0.56% APPLE INC 8,575,865.00 1.20% BERKSHIRE HATHAWAY 18,004,749.12 2.52% CHEVRON 15,859,287.80 2.22% COCA COLA CO 7,624,962.52 1.07% COLGATE-PALMOLIVE 3,468,185.00 0.49% EXXON MOBIL 6,316,825.00 0.89% GENERAL ELECTRIC CAP 10,438,378.05 1.46% GOOGLE 1,050,940.00 0.15% HSBC BANK USA 10,000,000.00 1.40% IBM CORP 7,246,715.50 1.02% JOHNSON & JOHNSON 7,232,748.49 1.01% MASS MUTUAL 7,866,195.57 1.10% MICROSOFT 7,056,370.00 0.99% 3M COMPANY 3,554,215.00 0.50% NEW YORK LIFE 7,391,076.83 1.04% PEFCO 2,527,892.10 0.35% PROTER & GAMBLE 6,036,796.25 0.85% ROYAL BANK OF CANADA 2,289,442.50 0.32% TOYOTA 12,029,445.00 1.69% WAL-MART 13,511,314.19 1.89% WESTPAC BANKING CORP 5,000,000.00 0.70% PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER Investment Cost Percent of Portfolio** FAMCA 11,064,870.00 1.55% FICO 8,733,759.39 1.22% FEDERAL FARM CREDIT BANK 75,813,155.93 10.62% FEDERAL HOME LOAN BANK 95,430,724.36 13.37% FEDERAL HOME LOAN MORTGAGE CORP 62,592,330.00 8.77% FEDERAL NATIONAL MORTGAGE ASSOC 98,623,644.65 13.82% RFC° STRIP PRINCIPAL 2,750,760.00 0.39% TENNESSEE VALLEY AUTHORITY 551,225.00 0.08% U.S.TREASURY 65,196,125.91 9.14% Total Portfolio $713,576,361.13 * No more than 5% may be invested with a single corporate issuer. **There are no percentage limits on federal agency issuers.