HomeMy WebLinkAbout2016-06-28; City Council; 22335; Report on City Investments as of May 31, 201613
AB#
MTG.
DEPT.
22 335
6 28/16
TRS
CITY OF CARLSBAD -AGENDA BILL
REPORT ON CITY INVESTMENTS
AS OF MAY 31, 2016
DEPT. HEAD
CITY ATTY.
CITY MGR.
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 May 31, 2016 is summarized below.
I Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 715A30,868 706A02,711
Cost of Investments 718,620,851 709,496,096
Amortized Cost (1) 717,052,889 707,826,244
Market Value (2) 718,518,331 710,357,858
(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 5/31/16.
The equity portion of the various funds in the total portfolio is summarized in the graph below. Fund
balances are restricted for various purposes. See Exhibit 8 for a more detailed breakdown.
The $8 million dollar increase between the April and May 2016reports was due mainly to the receipt of
property taxes totaling $9 million, sales tax in lieu receipts in the amount of $1.2 million and vehicle in lieu
receipts of $4.4 million. The income was offset by construction in progress costs paid in May.
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancy.Sullivan@carlsbadca.gov
FOR CLERKS USE.
COUNCIL ACTION: APPROVED [f.( CONTINUED TO DATE SPECIFIC D
DENIED D CONTINUED TO DATE UNKNOWN D
CONTINUED D RETURNED TO STAFF D
WITHDRAWN D OTHER-SEE MINUTES D
AMENDED D REPORT RECEIVED D
I
Item No. 13 - AB #22,335 June 28, 2016 Page 1 of 20
Report on City Investment May31, 2016
Meeting Date: June 21, 2016
Page 2
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
Special Revenue General $132 $44
Internal Service $42 Capital Projects
Agency/Trust $20 $ 294
Enterprise
$185
Total Treasurer's Investment Portfolio at Amortized Cost
May 31,2016 $717 million
Pooled Investment Interest Income
Current
Month FYTD
Prior
Month FYTD
Current Month
Income
Cash Income Fiscal
Year-to-Date *
7,976,257
7,135,953 840,304
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement I
Average Life
(Years)
Average Yield
To Maturity Modified Duration
MARCH 2016 1.95 1.181% 1.894
APRIL 2016 1.93 1.180% 1.875
MAY 2016 1.93 1.170% 1.869
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.
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. Item No. 13 - AB #22,335 June 28, 2016 Page 2 of 20
Report on City Investments as May 31, 2016
Meeting Date: June 21, 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. Fourth 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
Item No. 13 - AB #22,335 June 28, 2016 Page 3 of 20
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF MAY 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 14,045,107 15,039,830 14,257,656 15,193,956 223,781 1.58 1.54
FN 18,143,417 18,121,344 18,253,058 18,271,805 0 1.41 1.41
TR 71,050,836 66,695,485 71,409,676 67,205,782 512,537 1.12 1.12
FA 326,819,015 327,925,206 327,184,561 328,772,927 3,606,335 1.22 1.20
CN 167,000,980 172,769,667 167,419,845 173,638,678 3,225,981 1.50 1.53
LAIF 115,664,000 100,888,534 115,664,000 100,888,534 407,213 0.54 0.52
CUSTODY 362 183 362 183 63 0.00 0.00
SWEEP 3,130,471 5,665,078 3,130,471 5,665,078 348 0.02 0.02
BANK ACCT 1,198,702 720,916 1,198,702 720,916 0 0.02 0.02
TOTALS $717,052,889 $707,826,243 $718,518,331 $710,357,858 7,976,257 1.17% 1.18%
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 I WIEEIHXa Item No. 13 - AB #22,335 June 28, 2016 Page 4 of 20
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF MAY 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 247,008 247,380 13,542,794 14,037,182 2.0%
FN 3,490,976 0 14,396,011 17,886,987 2.5%
TR 3,016,308 10,993,753 57,065,626 71,075,687 9.9%
FA 14,526,907 35,027,835 277,366,818 326,921,559 45.5%
CN 24,879,501 30,829,211 112,997,190 168,705,901 23.5% (2)
LAlF 115,664,000 0 0 115,664,000 16.1%
CUSTODY 362 0 0 362 0.0%
SWEEP 3,130,471 0 0 3,130,471 0.4%
BANK ACCT 1,198,702 0 0 1,198,702 0.2%
TOTALS $166,154,234 (1) $77,098,179 (1) $475,368,439 $718,620,851 100.0%
% TOTALS 23.1% 10.7% 66.2% 100.0%
Total within One Year $243,252,413 (1)
33.9%
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. IIE[IHXa Item No. 13 - AB #22,335 June 28, 2016 Page 5 of 20
E IIHIHXa 1st V-9 Ntu 0 ‘1' 0 V\ G1/4' Nt• 0 St v0 061/4' I t`f 4`43 v-9 Vj 00 V.9.‘
YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 2010 — MAY 2016 2.70
2.60
2.50 2.40 2.30 2.20 2.10
2.00
1.90
1.80
1.70
1.60
1.50
1.40
1.30
1.20
1.10
1.00
0.90 0.80
0.70
0.60
0.50 0.40 0.30 0.20
0.10
0.00
Item No. 13 - AB #22,335 June 28, 2016 Page 6 of 20
MARKET YIELD CURVE
6/30/14, 6/30/15, 5/31/16
Market Rates
0
3 Mth
2 Yr 5 Yr 10 Yr
3.5
3
2.5
2
1.5
1
0.5
—0-6/30/2014
—dr- 6/30/2015
5/31/2016
3 Mth 2 Yr 5 Yr 10 Yr
.02 .46 1.63 2.53
.01 .65 1.65 2.35
.29 .88 1.37 1.85 Tv IdEIHXH Item No. 13 - AB #22,335 June 28, 2016 Page 7 of 20
10
9
8
7
6
5
4
3
2
1
0
Cumulative Cash Income
FY15-16
(May 2016)
'Y..
0 619
0.91 0.8 0.7 0.73 0.7 0.6 0.63 0.71 0.68 0.84
, i
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Interest Income -Budget —N —Actual YTD
Cumulative
Millions $
8
7
6
5
4
3
2
1
0 s Iiianixa Monthly Interest Income
Millions $
Item No. 13 - AB #22,335 June 28, 2016 Page 8 of 20
TRANSACTIONS FOR PERIOD:
04/01/16 TO 05/31/16 4th QUARTER 2015-2016
Trans Investment Call Par Amount Return Investment
Date Date Type Security Date Value Coupon (Cost) Rate Interest Return
BUYS
APRIL
04/14/16 04/15/16 FA FNMA N/A 2,150,000.00 1.350% 2,159,632.00 1.240% 112,192.37 2,271,824.37
04/14/16 04/15/16 TR US TREASURY N/A 1,500,000.00 1.250% 1,515,292.97 0.850% 33,127.36 1,548,420.33
04/14/16 04/19/16 CN NY LIFE N/A 2,000,000.00 1.550% 2,014,620.00 1.256% 63,999.45 2,078,619.45
04/06/16 04/28/16 FA FHLMC 10/28/2016 2,500,000.00 1.25% STEF 2,496,250.00 2.122% 269,375.00 2,765,625.00
04/14/16 04/29/16 FA FHLMC 7/29/2016 2,500,000.00 1.750% 2,500,000.00 1.750% 218,750.00 2,718,750.00
04/15/16 04/20/16 CN JOHNSON & JOHNSON N/A 2,250,000.00 1.875% 2,315,250.00 1.057% 87,679.69 2,402,929.69
04/18/16 04/19/16 FA FHLMC N/A 1,000,000.00 1.650% 1,017,760.00 1.230% 54,152.50 1,071,912.50
04/18/16 04/28/16 FA FHLMC 10/28/2016 1,500,000.00 1.500% 1,500,000.00 1.500% 95,625.00 1,595,625.00
04/25/16 04/26/16 FA FH LB N/A 2,700,000.00 0.750% 2,700,000.00 0.750% 27,112.50 2,727,112.50
04/25/16 04/26/16 FA FNMA N/A 2,096,000.00 1.000% 2,102,707.20 0.770% 22,636.80 2,125,344.00
04/25/16 04/28/16 CN PEFCO N/A 2,600,000.00 1.450% 2,617,570.80 1.240% 106,734.48 2,724,305.28
04/25/16 04/27/16 FA FHLMC 1/27/2017 2,000,000.00 1.559% 1,999,000.00 0.810% 117,250.00 2,116,250.00
04/25/16 04/26/16 FA FFCB 7/19/2016 3,250,000.00 1.600% 3,247,010.00 1.620% 248,978.89 3,495,988.89
04/25/16 04/28/16 CN EXXON MOBIL N/A 2,000,000.00 2.222% 2,042,900.00 1.750% 172,263.67 2,215,163.67
MAY
05/04/16 05/05/16 TR US TREASURY N/A 2,000,000.00 1.750% 2,049,174.00 1.205% 113,710.62 2,162,884.62
05/02/16 05/16/16 FA FHLMC 2/13/2017 2,750,000.00 1.300% 2,750,000.00 1.300% 134,062.50 2,884,062.50
05/19/16 05/23/16 CN PEFOC N/A 3,000,000.00 2.250% 3,099,000.00 1.358% 158,250.00 3,257,250.00
05/19/16 05/24/16 CN IBM N/A 1,500,000.00 1.625% 1,503,000.00 1.573% 93,890.62 1,596,890.62
05/19/16 05/26/16 FA FNMA 5/26/2017 4,000,000.00 1.300% 4,000,000.00 1.300% 182,000.00 4,182,000.00
05/20/16 05/25/16 FA FFCB 5/25/2017 4,000,000.00 1.660% 3,997,600.00 1.673% 334,400.00 4,332,000.00
05/20/16 05/23/16 FA FNMA N/A 2,000,000.00 1.125% 2,006,660.00 0.984% 47,465.00 2,054,125.00
05/23/16 05/26/16 CN ALPHABET, INC N/A 1,000,000.00 3.625% 1,094,000.00 1.651% 86,545.14 1,180,545.14
05/23/16 05/24/16 TR US TREASURY N/A 2,300,000.00 1.375% 2,315,093.75 1.204% 109,343.75 2,424,437.50
JUNE
05/19/16 06/30/16 FA FHLMC 9/30/2016 5,000,000.00 1.875% 5,000,000.00 1.875% 468,750.00 5,468,750.00
TOTAL FOURTH QUARTER 2015 -2016 57,596,000.00 58,042,520.72 1.377% 3,358,295.34 61,400,816.06
MATURITIES
APRIL
04/27/11 FA FHLB N/A 2,000,000.00 2.500% 2,000,000.00 2.500% 250,000.00 2,250,000.00
05/06/11 CN MASS MUTUAL GLOBAL N/A 1,000,000.00 3.125% 1,024,175.57 2.602% 130,164.71 1,154,340.28
10/22/12 CD NATIONAL BANK OFCOMM N/A 249,000.00 0.500% 248,551.80 0.550% 4,791.87 253,343.67
MAY
05/16/11 CN GENERAL ELECTRIC N/A 2,000,000.00 2.950% 2,000,912.32 2.940% 292,940.46 2,293,852.78
06/17/11 CN GENERAL ELECTRIC N/A 2,000,000.00 2.950% 2,009,952.38 2.840% 278,819.84 2,288,772.22
09/12/11 CN GENERAL ELECTRIC N/A 1,400,000.00 2.950% 1,427,513.33 2.500% 164,875.84 1,592,389.17
12/04/12 CN JOHNSON & JOHNSON N/A 2,000,000.00 2.150% 2,104,120.00 0.621% 44,110.56 2,148,230.56
09/13/13 CN TOYOTA N/A 3,000,000.00 0.800% 2,981,640.00 1.032% 82,626.67 3,064,266.67
09/04/12 CN GOOGLE N/A 1,000,000.00 2.125% 1,050,940.00 2.125% 27,862.08 1,078,802.08
05/04/12 CD HERITAGE BANK OF COMME N/A 249,000.00 0.800% 248,004.00 0.900% 8,953.05 256,957.05
05/18/12 CD NORTH JERSEY COMMUNITN N/A 248,000.00 0.850% 247,008.00 0.950% 9,429.77 256,437.77 9 IIHIHXa Item No. 13 - AB #22,335 June 28, 2016 Page 9 of 20
TRANSACTIONS FOR PERIOD:
04/01/16 TO 05/31/16 4th QUARTER 2015-2016
Trans Investment Call Par Amount Return Investment
Date Date Type Security Date Value Coupon (Cost) Rate Interest Return
MATURITIES - continued
05/22/12 CD STATE BANK & TRUST N/A 249,000.00 0.800% 248,004.00 0.900% 8,974.88 256,978.88
05/31/12 CD CRESCENT BANK & TRUST N/A 249,000.00 0.900% 248,502.00 0.950% 9,468.06 257,970.06
JUNE -
12/18/15 FN FHLB N/A 3,500,000.00 0.000% 3,490,975.83 0.520% 18,048.34 3,509,024.17
09/10/13 CN CHEVRON N/A 2,000,000.00 0.889% 1,993,903.80 1.000% 55,682.64 2,049,586.44
TOTAL FOURTH QUARTER 2015-2016 21,144,000.00 21,324,203.03 1.609% 1,386,748.77 22,710,951.80
CALLS
APRIL
12/17/15 12/23/15 FA FHLB 4/14/2016 2,500,000.00 1.950% 2,498,000.00 1.969% 221,375.00 2,719,375.00
10/23/14 10/24/14 FA FNMA 4/15/2016 1,000,000.00 1.550% 984,640.00 1.875% 92,472.50 1,077,112.50
01/11/16 01/14/16 FA FFCB 4/18/2016 4,000,000.00 1.940% 4,000,000.00 1.940% 388,000.00 4,388,000.00
04/02/15 04/22/15 FA FHLB 4/22/2016 1,000,000.00 1.250% 1,000,000.00 1.250% 43,750.00 1,043,750.00
04/23/15 04/29/15 FA FNMA 4/29/2016 2,000,000.00 1.600% 2,000,000.00 1.600% 160,000.00 2,160,000.00
04/30/15 04/29/15 FA FNMA 4/29/2016 2,650,000.00 1.550% 2,646,025.00 1.581% 209,121.81 2,855,146.81
01/28/16 01/29/16 FA FHLMC 4/24/2016 480,000.00 1.350% 480,000.00 1.350% 20,970.00 500,970.00
04/29/15 04/29/16 FA FHLMC 4/29/2016 1,500,000.00 1% STEP 1,498,500.00 2.109% 160,875.00 1,659,375.00
MAY
04/30/15 05/01/15 FA FFCB 5/18/2016 1,095,000.00 1.240% 1,095,000.00 1.240% 44,090.78 1,139,090.78
11/02/15 11/27/15 FA FNMA 5/27/2016 2,000,000.00 1.500% 1,999,500.00 1.507% 113,000.00 2,112,500.00
05/06/15 05/27/15 FA FNMA 5/27/2016 1,750,000.00 1.800% 1,750,000.00 1.800% 157,500.00 1,907,500.00
11/19/12 11/27/12 FA FNMA 5/27/2016 4,000,000.00 0.900% 4,000,000.00 0.900% 180,000.00 4,180,000.00
05/02/13 05/28/13 FA FN MA 5/28/2016 5,000,000.00 0.500% 4,997,500.00 0.514% 90,000.00 5,087,500.00
TOTAL FOURTH QUARTER 2015-2016 28,975,000.00 28,949,165.00 1.404% 1,881,155.09 30,830,320.09
Item No. 13 - AB #22,335 June 28, 2016 Page 10 of 20
INVESTMENT
DATE TYPE
INVESTMENT REPORT
AS OF MAY 31, 2016
PAR
SECURITY VALUE
INVESTED
AMOUNT
RETURN
RATE INTEREST
INVESTMENT
RETURN
TERM
(Days)
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
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
4/26/2016 FA FHLB .75% NON-CALL 2,700,000.00 2,700,000.00 0.750% 27,112.50 2,727,112.50 489
4/26/2016 FA FNMA 1.0% NON-CALL 2,096,000.00 2,102,707.20 0.770% 22,636.80 2,125,344.00 512
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 1,280
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
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
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 L LIHIHX Item No. 13 - AB #22,335 June 28, 2016 Page 11 of 20
INVESTMENT
DATE TYPE
INVESTMENT REPORT
AS OF MAY 31, 2016
PAR
SECURITY VALUE
INVESTED
AMOUNT
RETURN
RATE INTEREST
INVESTMENT
RETURN
TERM
(Days)
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
5/5/2014 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
5/23/2016 FA FNMA 1.125% NON-CALL 2,000,000.00 2,006,660.00 0.984% 47,465.00 2,054,125.00 879
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
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
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
2/26/2016 FA FFCB 1.03% NON-CALL 4,000,000.00 4,004,640.00 0.990% 117,357.78 4,121,997.78 1,096
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
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
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
2/26/2016 FA FAMCA 1.50% NON-CALL 3,000,000.00 3,033,300.00 1.156% 115,200.00 3,148,500.00 1,204
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
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
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
10/15/2015 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
5/26/2016 FA FNMA 1.30% QRTLY CALL 4,000,000.00 4,000,000.00 1.300% 182,000.00 4,182,000.00 1,279
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 Item No. 13 - AB #22,335 June 28, 2016 Page 12 of 20
INVESTMENT
DATE TYPE
INVESTMENT REPORT
AS OF MAY 31, 2016
PAR
SECURITY VALUE
INVESTED
AMOUNT
RETURN
RATE INTEREST
INVESTMENT
RETURN
TERM
(Days)
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
4/27/2016 FA FHLMC .75% ONE CALL 1/27/17 STEP 2,000,000.00 1,999,000.00 1.559% 117,250.00 2,116,250.00 1,370
5/13/2016 FA FHLMC 1.30% CALL 2/13/17 ONE TIME 2,750,000.00 2,750,000.00 1.300% 134,062.50 2,884,062.50 1,371
2/24/2016 FA FHLMC 1.50% CONT CALL 1,750,000.00 1,750,000.00 1.500% 105,000.00 1,855,000.00 1,461
2/24/2016 FA FFCB 1.4% CONT CALL 1,000,000.00 1,000,000.00 1.400% 56,000.00 1,056,000.00 1,461
4/1/2015 FA FHLB 2.25% 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
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
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
2/23/2016 FA FHLB 1.75% NON-CALL 2,000,000.00 2,039,980.00 1.271% 110,617.22 2,150,597.22 1,571
4/15/2016 FA FNMA 1.35% NON-CALL 2,150,000.00 2,159,632.00 1.240% 112,192.37 2,271,824.37 1,533
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
4/28/2016 FA FHLMC 1.5% CALL 10/28/16 QRTLY 1,500,000.00 1,500,000.00 1.500% 95,625.00 1,595,625.00 1,552
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
4/19/2016 FA FHLMC 1.65% NON-CALL 1,000,000.00 1,017,760.00 1.230% 54,152.50 1,071,912.50 1,592
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
4/26/2016 FA FFCB 1.60% CALL 7/19/16 CONT 3,250,000.00 3,247,010.00 1.620% 248,978.89 3,495,988.89 1,729
2/26/2016 FA FHLMC 1.25% QRTLY CALL STEP 1,000,000.00 999,500.00 2.103% 106,750.00 1,106,250.00 1,827
2/26/2016 FA FHLB 1.69% CALL 8/26/16 CONT 4,000,000.00 4,000,000.00 1.690% 338,000.00 4,338,000.00 1,827
3/10/2016 FA FNMA 1.00% CALL 3/10/17 ONE TIME STEP 2,500,000.00 2,498,750.00 1.724% 216,250.00 2,715,000.00 1,826
3/22/2016 FA FHLB 1.25% QRTLY CALL 6/22/16 STEP 2,500,000.00 2,498,750.00 1.870% 235,625.00 2,734,375.00 1,826
4/28/2016 FA FHLMC 1.25% QRTLY CALL 10/28/16 STEP 2,500,000.00 2,496,250.00 2.122% 269,375.00 2,765,625.00 1,826
4/29/2016 FA FHLMC 1.75% QRTLY CALL 7/29/16 2,500,000.00 2,500,000.00 1.750% 218,750.00 2,718,750.00 1,826
5/25/2016 FA FFCB 1.66% CALL 5/25/17 CONT 4,000,000.00 3,997,600.00 1.673% 334,400.00 4,332,000.00 1,826
SUB-TOTAL 326,259,333.50 326,921,559.28 1.216% 16,279,846.25 343,201,405.53 1,412
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
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 345,222,333.50 344,808,546.35 17,710,244.30 362,518,790.65 2,300
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 Item No. 13 - AB #22,335 June 28, 2016 Page 13 of 20
INVESTMENT
DATE TYPE
INVESTMENT REPORT
AS OF MAY 31, 2016
PAR
SECURITY VALUE
INVESTED
AMOUNT
RETURN
RATE INTEREST
INVESTMENT
RETURN
TERM
(Days)
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
4/15/2016 TR US TREASURY 1.25% 1,500,000.00 1,515,292.97 0.850% 33,127.36 1,548,420.33 944
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
5/24/2016 TR US TREASURY 1.375% 2,300,000.00 2,315,093.75 1.204% 109,343.75 2,424,437.50 1,437
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
5/5/2016 TR US TREASURY 1.75% 2,000,000.00 2,049,174.00 1.205% 113,710.62 2,162,884.62 1,701
SUB-TOTAL 70,715,000.00 71,075,686.63 1.123% 2,840,369.96 73,916,056.59 1,170
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
2/5/2016 CN PEFCO 1.375% NON-CALL 2,000,000.00 2,012,360.00 0.770% 15,903.89 2,028,263.89 376
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
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
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 Item No. 13 - AB #22,335 June 28, 2016 Page 14 of 20
INVESTMENT
DATE TYPE
INVESTMENT REPORT
AS OF MAY 31, 2016
PAR
SECURITY VALUE
INVESTED
AMOUNT
RETURN
RATE INTEREST
INVESTMENT
RETURN
TERM
(Days)
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
2/25/2016 CN COLGATE-PALMOLIVE .90% MAKE WHOLE CALL 2,500,000.00 2,495,450.00 0.984% 53,675.00 2,549,125.00 796
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
4/19/2016- CN NY LIFE 1.55% NON-CALL 2,000,000.00 2,014,620.00 1.256% 63,999.45 2,078,619.45 927
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
4/28/2016 CN PEFCO 1.45% NON-CALL 2,600,000.00 2,617,570.80 1.240% 106,734.48 2,724,305.28 1,204
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
4/20/2016 CN JOHNSON & JOHNSON 1.875% MAKE WHOLE CALL 2,250,000.00 2,315,250.00 1.057% 87,679.69 2,402,929.69 1,324
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
5/23/2016 CN PEFCO 225% NON-CALL 3,000,000.00 3,099,000.00 1.358% 158,250.00 3,257,250.00 1,392
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
5/24/2016 CN IBM 1.625% MAKE-WHOLE CALL 1,500,000.00 1,503,000.00 1.573% 93,890.62 1,596,890.62 1,452
11/3/2015 CN MMM 2.0% MAKE WHOLE CALL 3,500,000.00 3,554,215.00 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
4/28/2016 CN EXXON MOBIL 2.222% MAKE WHOLE CALL 2,000,000.00 2,042,900.00 1.750% 172,263.67 2,215,163.67 1,768
5/26/2016 CN ALPHABET, INC 3.625% MAKE WHOLE CALL 1,000,000.00 1,094,000.00 1.651% 86,545.14 1,180,545.14 1,819
SUB-TOTAL 165,449,000.00 168,705,901.11 1.503% 10,874,684.47 179,580,585.58 1,433
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 Item No. 13 - AB #22,335 June 28, 2016 Page 15 of 20
INVESTMENT
DATE TYPE
INVESTMENT REPORT
AS OF MAY 31, 2016
PAR
SECURITY VALUE
INVESTED
AMOUNT
RETURN
RATE INTEREST
INVESTMENT
RETURN
TERM
(Days)
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
2/10/2016 CD ORIENTAL BANK SAN JAUN PR 1.2% NON-CALL 248,000.00 248,000.00 1.200% 5,943.73 253,943.73 730
2/10/2016 CD CADENCE BANK 1.25% NON-CALL 248,000.00 248,000.00 1.250% 6,217.22 254,217.22 733
3/28/2013 CD WASHINGTON FEDERAL SAVINGS 1.0% CALL 249,000.00 248,253.00 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
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% 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
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 Item No. 13 - AB #22,335 June 28, 2016 Page 16 of 20
INVESTMENT
DATE TYPE
INVESTMENT REPORT
AS OF MAY 31, 2016
PAR
SECURITY VALUE
INVESTED
AMOUNT
RETURN
RATE INTEREST
INVESTMENT
RETURN
TERM
f Days)
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 14,051,000.00 14,037,182.40 1.579% 1,049,148.80 15,086,331.20 1,686
0 WELLS FARGO BANK 1,197,778.00 1,197,778.00 0.020% 0.66 1,197,778.66 1
0 CORPORATE CASH MANAGEMENT ACCOUNT 3,130,471.11 3,130,471.11 0.020% 1.72 3,130,472.83 1
0 LIBRARY ACCOUNT 923.55 923.55 0.000% - 923.55 1
0 UNION TRUST 362.04 362.04 0.000% - 362.04 . 1
0 LA I F WATER DISTRICT 27,468,000.00 27,468,000.00 0.540% 412.02 27,468,412.02 1
0 LA I F PUBLIC IMPROVEMENT CORPORATION 27,406,000.00 27,406,000.00 0.540% 411.09 27,406,411.09 1
0 LA I F PUBLIC FINANCING CORPORATION 25,516,000.00 25,516,000.00 0.540% 382.74 25,516,382.74 1
0 LAI F CITY OF CARLSBAD 35,274,000.00 35,274,000.00 0.540% 529.11 35,274,529.11 1
SUB-TOTAL 119,993,534.70 119,993,534.70 0.521% 1,737.33 119,995,272.03
GRAND TOTAL 715,430,868.20 718,620,851.19 1.170% 32,476,184.86 751,097,036.05
Item No. 13 - AB #22,335 June 28, 2016 Page 17 of 20
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF MAY 31, 2016
Cash Balance by Fund:
General 132,375,515
Special Revenue 43,779,143
Capital Projects:
General Capital Construction 41,906,203
Traffic Impact Fees 20,172,496
Public Facilities Fees 25,843,042
Park Development 8,739,422
Transnet Taxes 4,655,132
Drainage Fees 6,373,006
Special Districts 90,848,393
Infrastructure Replacement 92,541,746
Other Capital Construction 3,225,123 294,304,564
Total
Enterprise:
Carlsbad Municipal Water District 118,419,868
Sewer Fund 51,358,592
Solid Waste 7,364,137
Storm Water 5,586,149
Golf Course 1,686,021
Total 184,414,766
Internal Service 42,266,881
Agency Funds 19,476,831
Trust Funds 112,398
Total General Ledger Balance ** 716,730,098
Reconciling Adjustments (1) 322,791
Total Treasurer's Investment Portfolio at Amortized Cost 717,052,889
(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 06/07/16
Item No. 13 - AB #22,335 June 28, 2016 Page 18 of 20
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of MAY 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)
Moody's S&P Fitch
ADP AA3 AA NR
ALPHABET, INC AA2 AA NR
APPLE AA1 AM- NR
BERKSHIRE HATAWAY AA2 AA A+
CHEVRON AA1 AA- NR
COCA COLA AA3 AA- A+
COLGATE-PALMOLIVE AA3 AA- AA-
EXXON MOBIL AAA AA+ NR
IBM CORP AA3 AA- A+
JOHNSON & JOHNSON AAA AAA AAA
MASS MUTUAL GLOBAL AA2 AA+ AA+
MICROSOFT AAA AAA AA+
NEW YORK LIFE AAA AA+ AAA
PRIVATE EXPORT FUNDING (PEFCO) AAA A+ AAA
PROCTER & GAMBLE AA3 AA- NR
ROYAL BANK OF CANADA AAA AAA AAA
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
HSBC BANK USA Al AA- NR 06/05/2017 10,000,000 9,836,000
3M COMPANY Al AA- NR 08/07/2020 3,547,636 3,561,600
* 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.
Item No. 13 - AB #22,335 June 28, 2016 Page 19 of 20
EXHIBIT 10
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF MAY 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%
ALPHABET, INC 1,094,000.00 0.15%
APPLE INC 8,575,865.00 1.19%
BERKSHIRE HATHAWAY 18,004,749.13 2.51%
CHEVRON 15,859,287.80 2.21%
COCA COLA CO 7,624,962.52 1.06%
COLGATE-PALMOLIVE 5,963,635.00 0.83%
EXXON MOBIL 8,359,725.00 1.16%
HSBC BANK USA 10,000,000.00 1.39%
IBM CORP 8,749,715.50 1.22%
JOHNSON & JOHNSON 7,443,878.49 1.04%
MASS MUTUAL 6,842,020.01 0.95%
MICROSOFT 7,056,370.00 0.98%
3M COMPANY 3,554,215.00 0.49%
NEW YORK LIFE 9,405,696.83 1.31%
PEFCO 10,256,822.90 1.43%
PROTER & GAMBLE 6,036,796.25 0.84%
ROYAL BANK OF CANADA 2,289,442.50 0.32%
TOYOTA 9,047,805.00 1.26%
WAL-MART 13,511,314.19 1.88%
WESTPAC BANKING CORP 5,000,000.00 0.70%
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
Investment Cost Percent of Portfolio**
FAMCA 14,098,170.00 1.96%
FICO 8,733,759.39 1.22%
FEDERAL FARM CREDIT BANK 76,473,155.93 10.64%
FEDERAL HOME LOAN BANK 94,944,304.37 13.21%
FEDERAL HOME LOAN MORTGAGE CORP 66,974,420.00 9.32%
FEDERAL NATIONAL MORTGAGE ASSOC 80,282,751.67 11.17%
RFCO STRIP PRINCIPAL 2,750,760.00 0.38%
TENNESSEE VALLEY AUTHORITY 551,225.00 0.08%
U.S.TREASURY 71,075,686.63 9.89%
Total Portfolio $718,620,851.19
* No more than 5% may be invested with a single corporate issuer.
**There are no percentage limits on federal agency issuers. Item No. 13 - AB #22,335 June 28, 2016 Page 20 of 20