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HomeMy WebLinkAbout2016-07-26; City Council; 22374; Report on City Investments as of June 30, 2016CITY OF CARLSBAD -AGENDA BILL AB# MTG. DEPT. 22,374 07/26 16 TRS RECOMMENDED ACTION: Accept and file report. ITEM EXPLANATION: REPORT ON CITY INVESTMENTS AS OF JUNE 30, 2016 DEPT. HEAD CITY ATTY. CITY MGR. 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 June 30, 2016 is summarized below. Pooled Investment Portfolio (Cash and Securities) Current Month Prior Month Par Value 715,837,393 715,430,868 Cost of Investments 719,458,782 718,620,851 Amortized Cost {1) 717,721,310 717,052,889 Market Value (2) 721,730,358 718,518,331 (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 6/30/16. 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. FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) Special Revenue General $l34 $44 Internal Service $43 Agencyffrust $21 Enterprise $181 Capital Projects $294 Total Treasurer's Investment Portfolio at Amortized Cost June 30, 2016 $717 million DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancy.Sullivan@carlsbadca.gov FOR CLERKS USE. ~ COUNCIL ACTION: APPROVED CONTINUED TO DATE SPECIFIC DENIED CONTINUED TO DATE UNKNOWN CONTINUED D RETURNED TO STAFF WITHDRAWN D OTHER-SEE MINUTES AMENDED D REPORT RECEIVED D D D D D Item #12 - AB #22,374 July 26, 2016 Page 1 of 23 Report on City Investments as of June 30, 2016 Meeting Date: July 26, 2016 Page 2 Pooled Investment Interest Income Current Month FYTD Prior Month FYTD Current Month Income Cash Income Fiscal Year-to-Date * 8,678,630 7,976,257 702,373 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement Average Life (Years) Average Yield To Maturity Modified Duration APRIL 2016 1.93 1.180% 1.875 MAY 2016 1.93 1.170% 1.869 JUNE 2016 1.85 1.148% 1.801 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. Investment Portfolio for Bond Proceeds Current Quarter Prior Quarter Par Value 10,821,324 10,816,253 Cost 10,821,324 10,816,253 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 #12 - AB #22,374 July 26, 2016 Page 2 of 23 Report on City Investments as of June 30, 2016 Meeting Date: July 26, 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 EXHIBIT FOR INVESTMENTS OF BOND PROCEEDS HELD SEPARATELY: 11. Detailed Investment Report—Quarterly Report EXHIBIT FOR SUMMARY OF OUTSTANDING HOUSING LOANS: 12. Detail Of Outstanding Housing Loans — Quarterly Report Item #12 - AB #22,374 July 26, 2016 Page 3 of 23 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JUNE 30, 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 15,286,339 14,045,107 15,515,683 14,257,656 264,846 1.57 1.58 FN 14,664,083 18,143,417 14,951,339 18,253,058 0 1.63 1.41 TR 71,041,861 71,050,836 71,845,746 71,409,676 571,617 1.12 1.12 FA 312,122,000 326,819,015 313,688,474 327,184,561 4,096,911 1.20 1.22 CN 166,473,968 167,000,980 167,596,057 167,419,845 3,337,601 1.51 1.50 LAIF 128,054,000 115,664,000 128,054,000 115,664,000 407,213 0.55 0.54 CUSTODY 469 362 469 362 69 0.00 0.00 SWEEP 9,353,364 3,130,471 9,353,364 3,130,471 373 0.02 0.02 BANK ACCT 725,227 1,198,702 725,227 1,198,702 0 0.02 0.02 TOTALS $717,721,310 $717,052,889 $721,730,358 $718,518,331 8,678,630 1.15% 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 IIEEIHXR Item #12 - AB #22,374 July 26, 2016 Page 4 of 23 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JUNE 30, 2016 BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME 7 MONTHS TO 1 YEAR 1 TO 5 YEARS TOTAL °A TOTAL CLASS WITHIN 6 MONTHS CD 247,008 247,380 14,783,794 15,278,182 2.1% FN 0 0 14,396,011 14,396,011 2.0% TR 5,016,734 8,993,327 57,065,626 71,075,687 9.9% FA 29,029,257 23,629,085 259,666,053 312,324,395 43.4% CN 22,885,597 35,829,211 109,536,640 168,251,447 23.4% (2) LAIF 128,054,000 0 0 128,054,000 17.8% CUSTODY 469 0 0 469 0.0% SWEEP 9,353,364 0 0 9,353,364 1.3% BANK ACCT 725,227 0 0 725,227 0.1% TOTALS $195,311,655 (1) $68,699,003 (1) $455,448,124 $719,458,782 100.0% % TOTALS 27.2% 9.6% 63.3% 100.0% Total within One Year $264,010,658 (1) 36.7% 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. Z ilIEIIHXR Item #12 - AB #22,374 July 26, 2016 Page 5 of 23 II II I I I I YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 2010 - JUNE 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 EX-LAIF 61/4' N'• ° E IIEIHXH VSt c>. 0 VP.° V° 61/4. t 0 Vt# G1/4* Nbt 0 V4# 06' 43 .4 t‘Ca 0 V9.‘ Item #12 - AB #22,374 July 26, 2016 Page 6 of 23 Market Rates 3.5 3 2.5 2 1.5 1 0.5 MARKET YIELD CURVE 6/30/14, 6/30/15, 6/30/16 —0-6/30/2014 6/30/2015 4-6/30/2016 3 Mth 2 Yr 5 Yr 10 Yr .02 .46 1.63 2.53 .01 .65 1.65 2.35 .26 .58 1.00 1.47 f7 IIEfIHXa Item #12 - AB #22,374 July 26, 2016 Page 7 of 23 Cumulative Cash Income FY15-16 (June 2016) __I ims ... 4°. dep 0.619 0.8 0 0.91.7 0.73 0.7 0.6 0.63 10 0.71 0.68 0.84 0.7 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 1 Interest Income -4--Budget --• —Actual YTD 10 9 8 7 6 5 4 3 2 1 0 Cumulative Millions $ 8 7 6 5 4 3 2 1 0 S IIHIHXa Monthly Interest Income Millions $ Item #12 - AB #22,374 July 26, 2016 Page 8 of 23 TRANSACTIONS FOR PERIOD: 04/01/16 Trans Date TO Investment Date 06/30/16 Type 4th QUARTER 2015-2016 Security Call Date Par Value Coupon Amount (Cost) Return Rate Interest Investment 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 FHLB 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 06/07/16 06/08/16 FA FHLB N/A 3,000,000.00 2.875% 3,206,160.00 1.214% 161,121.25 3,367,281.25 06/07/16 06/10/16 CD USB BANK USA SALT LAKE N/A 249,000.00 1.650% 249,000.00 1.650% 20,508.73 269,508.73 06/07/16 06/10/16 CN MICROSOFT N/A 1,500,000.00 2.000% 1,539,450.00 1.370% 92,466.67 1,631,916.67 06/07/16 06/14/16 FA FFCB 6/14/2017 2,250,000.00 1.540% 2,250,000.00 1.540% 155,925.00 2,405,925.00 06/09/16 06/15/16 CD AMERICA'S CREDIT UNION N/A 248,000.00 1.100% 248,000.00 1.100% 5,456.00 253,456.00 06/09/16 06/23/16 CD EAST BOSTON SAVING BK N/A 248,000.00 1.500% 248,000.00 1.500% 18,600.00 266,600.00 06/14/16 06/21/16 FA FFCB 9/21/2016 2,000,000.00 1.550% 2,000,000.00 1.550% 139,500.00 2,139,500.00 06/14/16 06/24/16 CD FIRST BUSINESS BK N/A 248,000.00 1.500% 248,000.00 1.150% 18,600.00 266,600.00 06/15/16 06/30/16 CD FIRST TECH FED CR UNION N/A 248,000.00 1.750% 248,000.00 1.750% 21,700.00 269,700.00 06/20/16 06/21/16 FA FHLB N/A 4,000,000.00 1.250% 4,034,280.00 0.809% 63,914.44 4,098,194.44 06/22/16 06/28/16 FA FNMA 12/28/2016 2,500,000.00 1.200% 2,500,000.00 1.200% 90,000.00 2,590,000.00 TOTAL FOURTH QUARTER 2015-2016 74,087,000.00 74,813,410.72 1.344% 4,146,087.43 78,959,498.15 9 ildEIHXa Item #12 - AB #22,374 July 26, 2016 Page 9 of 23 TRANSACTIONS FOR PERIOD: 04/01/16 TO 06/30/16 4th QUARTER 2015-2016 Trans Investment Call Par Amount Return Investment Date Date Type Security Date Value Coupon (Cost) Rate Interest Return 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 ON 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 ON 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 ON 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 ON 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 COMMUNIn N/A 248,000.00 0.850% 247,008.00 0.950% 9,429.77 256,437.77 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 ON 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 FNMA 5/28/2016 5,000,000.00 0.500% 4,997,500.00 0.514% 90,000.00 5,087,500.00 JUNE 05/22/13 06/12/13 FA FHLMC 6/12/2016 3,000,000.00 1.200% 2,999,100.00 1.206% 180,900.00 3,180,000.00 01/25/16 01/26/16 FA FFCB 6/13/2016 1,000,000.00 1.820% 998,580.00 1.850% 91,459.44 1,090,039.44 06/11/13 06/13/13 FA FNMA 6/13/2016 5,000,000.00 0.800% 4,930,000.00 1.047% 351,250.00 5,281,250.00 01/07/14 01/08/14 FA FFCB 6/16/2020 1,750,000.00 1.250% 1,705,900.00 1.808% 147,641.67 1,853,541.67 10/15/15 10/20/15 FA FFCB 6/16/2016 5,000,000.00 1.625% 5,000,000.00 1.625% 365,625.00 5,365,625.00 Item #12 - AB #22,374 July 26, 2016 Page 10 of 23 TRANSACTIONS FOR PERIOD: 04/01/16 Trans Date TO Investment Date 06/30/16 lyp2 4th QUARTER 2015-2016 Security Call Date Par Value Coupon Amount (Cost) Return Rate Interest Investment Return CALLS continued 06/18/13 06/20/13 FA FNMA 6/20/2016 4,000,000.00 1.250% 3,977,200.00 1.360% 272,800.00 4,250,000.00 06/25/15 06/30/15 FA FHLB 6/24/2016 2,000,000.00 1.400% 2,000,000.00 1.400% 97,533.33 2,097,533.33 03/31/15 04/01/15 FA FNMA 6/30/2016 1,099,000.00 1.700% 1,099,549.50 1.690% 92,813.60 1,192,363.10 12/21/15 12/28/15 FA FHLMC 6/28/2016 2,450,000.00 1% STEP 2,450,000.00 1.910% 165,375.00 2,615,375.00 06/22/15 06/30/15 FA FHLMC 6/28/2016 2,300,000.00 1.500% 2,300,000.00 1.500% 137,808.33 2,437,808.33 01/28/16 01/29/16 FA FFCB 6/28/2016 3,250,000.00 1.700% 3,252,275.00 1.680% 243,127.08 3,495,402.08 01/07/16 01/08/16 FA FHLB 6/30/2016 2,875,000.00 0.800% 2,875,000.00 0.800% 22,488.89 2,897,488.89 TOTAL FOURTH QUARTER 2015-2016 62,699,000.00 62,536,769.50 1.414% 4,049,977.43 66,586,746.93 Item #12 - AB #22,374 July 26, 2016 Page 11 of 23 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JUNE 30, 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 1/3/2013 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 6/21/2016 FA FHLB 1.25% NON-CALL 4,000,000.00 4,034,280.00 0.809% 63,914.44 4,098,194.44 717 L IIHIHXa Item #12 - AB #22,374 July 26, 2016 Page 12 of 23 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JUNE 30, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM (Days) 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 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 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 6/28/2016 FA FNMA 1.20% CALL 12/28/16 2,500,000.00 2,500,000.00 1.200% 90,000.00 2,590,000.00 1,095 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 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 Item #12 - AB #22,374 July 26, 2016 Page 13 of 23 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JUNE 30, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM (Days) 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 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 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 6/8/2016 FA FHLB 2.875% NON-CALL 3,000,000.00 3,206,160.00 1.214% 161,121.25 3,367,281.25 1,556 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 6/14/2016 FA FFCB 1.54% CALL 6/14/17 CONT 2,250,000.00 2,250,000.00 1.540% 155,925.00 2,405,925.00 1,644 6/21/2016 FA FFCB 1.55% CALL 9/21/16 CONT 2,000,000.00 2,000,000.00 1.550% 139,500.00 2,139,500.00 1,644 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 6/30/2016 FA FHLMC 1.875% CALL 9/30/16 QRTLY 5,000,000.00 5,000,000.00 1.875% 468,750.00 5,468,750.00 1,826 SUB-TOTAL 311,285,333.50 312,324,394.78 1.198% 15,190,234.60 327,514,629.38 1,399 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 15,463,000.00 14,396,011.24 1.6270% 1,412,349.71 15,808,360.95 3,005 Federal Investments Total 326,748,333.50 326,720,406.02 16,602,584.31 343,322,990.33 2,202 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 Item #12 - AB #22,374 July 26, 2016 Page 14 of 23 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JUNE 30, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM (Days) 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 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 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 Item #12 - AB #22,374 July 26, 2016 Page 15 of 23 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JUNE 30, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM (Days) 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 2.25% 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 6/10/2016 CN MICROSOFT 2.00% MAKE WHOLE CALL 1,500,000.00 1,539,450.00 1.370% 92,466.67 1,631,916.67 1,607 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 164,949,000.00 168,251,447.31 1.508% 10,911,468.50 179,162,915.81 1,443 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 Item #12 - AB #22,374 July 26, 2016 Page 16 of 23 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JUNE 30, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM (Days) 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 6/15/2016 CD AMERICA'S CREDIT UNION 1.10% 248,000.00 248,000.00 1.100% 5,456.00 253,456.00 730 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 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 Item #12 - AB #22,374 July 26, 2016 Page 17 of 23 INVESTMENT DATE TYPE INVESTMENT REPORT AS OF JUNE 30, 2016 PAR SECURITY VALUE INVESTED AMOUNT RETURN RATE INTEREST INVESTMENT RETURN TERM (Days) 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 6/10/2016 CD UBS BANK USA SALT LAKE CITY 1.65% 249,000.00 249,000.00 1.650% 20,508.73 269,508.73 1,823 6/23/2016 CD EAST BOSTON SAVING BANK 1.5% 248,000.00 248,000.00 1.500% 18,600.00 266,600.00 1,826 6/24/2016 CD FIRST BUSINESS BK MADISON 1.5% 248,000.00 248,000.00 1.500% 18,600.00 266,600.00 1,826 6/30/2016 CD FIRST TECHNOLOGY FEDERAL CR UNION 1.75% 248,000.00 248,000.00 1.750% 21,700.00 269,700.00 1,826 SUB-TOTAL 15,292,000.00 15,278,182.40 1.572% 1,134,013.53 16,412,195.93 1,680 0 WELLS FARGO BANK 724,361.00 724,361.00 0.020% 0.40 724,361.40 1 0 CORPORATE CASH MANAGEMENT ACCOUNT 9,353,363.63 9,353,363.63 0.020% 5.13 9,353,368.76 1 0 LIBRARY ACCOUNT 866.19 866.19 0.000% - 866.19 1 0 UNION TRUST 468.90 468.90 0.000% - 468.90 1 0 LA I F WATER DISTRICT 35,262,000.00 35,262,000.00 0.550% 538.73 35,262,538.73 1 0 LAI F PUBLIC IMPROVEMENT CORPORATION 31,858,000.00 31,858,000.00 0.550% 486.72 31,858,486.72 1 0 LA IF PUBLIC FINANCING CORPORATION 30,052,000.00 30,052,000.00 0.550% 459.13 30,052,459.13 1 0 LA I F CITY OF CARLSBAD 30,882,000.00 30,882,000.00 0.550% 471.81 30,882,471.81 1 SUB-TOTAL 138,133,059,72 138,133,059.72 0.511% 1,961.90 138,135,021.62 GRAND TOTAL 715,837,393.22 719,458,782.08 1.1475% 31,490,398.20 750,949,180.28 Item #12 - AB #22,374 July 26, 2016 Page 18 of 23 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF JUNE 30, 2016 Cash Balance by Fund: General 128,793,196 Special Revenue 43,613,325 Capital Projects: General Capital Construction 40,784,087 Traffic Impact Fees 20,149,887 Public Facilities Fees 25,900,294 Park Development 8,751,239 Transnet Taxes 6,033,366 Drainage Fees 6,400,549 Special Districts 91,108,140 Infrastructure Replacement 92,319,693 Other Capital Construction 2,710,087 294,157,343 Total Enterprise: Carlsbad Municipal Water District 114,040,672 Sewer Fund 52,290,806 Solid Waste 7,221,650 Storm Water 5,434,028 Golf Course 1,689,993 Total 180,677,149 Internal Service 43,019,031 Agency Funds 19,702,498 Trust Funds 1,657,120 Total General Ledger Balance ** 711,619,663 Reconciling Adjustments (1) 6,101,647 Total Treasurer's Investment Portfolio at Amortized Cost 717,721,310 (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 07/13/16 Item #12 - AB #22,374 July 26, 2016 Page 19 of 23 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of JUNE 30, 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 AA+ 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 AM- AM MICROSOFT AAA AAA -AM NEW YORK LIFE AAA AM- 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 A1/P1 or better by two of the three: Moody's, S&P or Fitch) (Ratings of other debt must be AA or better by two of the three: Moody's, S&P or Fitch) NONE Investments with Subsequent Changes in Credit Rating * Latest Carrying Market Moody's S&P Fitch Maturity Date Value Value HSBC BANK USA Al AA- NR 06/05/2017 10,000,000 9,840,500 3M COMPANY Al AA- NR 08/07/2020 3,546,687 3,596,845 *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 #12 - AB #22,374 July 26, 2016 Page 20 of 23 EXHIBIT 10 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JUNE 30, 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 2.50% CHEVRON 13,865,384.00 1.93% 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 1.03% MASS MUTUAL 6,842,020.01 0.95% MICROSOFT 8,595,820.00 1.19% 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 0.69% PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER Investment Cost Percent of Portfolio** FAMCA 14,098,170.00 1.96% FICO 8,733,759.39 1.21% FEDERAL FARM CREDIT BANK 69,766,400.93 9.70% FEDERAL HOME LOAN BANK 93,818,768.54 13.04% FEDERAL HOME LOAN MORTGAGE CORP 64,225,320.00 8.93% FEDERAL NATIONAL MORTGAGE ASSOC 72,776,002.17 10.12% RFC° STRIP PRINCIPAL 2,750,760.00 0.38% TENNESSEE VALLEY AUTHORITY 551,225.00 0.08% U.S.TREASURY 71,075,686.63 9.88% Total Portfolio $719,458,782.10 * No more than 5% may be invested with a single corporate issuer. **There are no percentage limits on federal agency issuers. Item #12 - AB #22,374 July 26, 2016 Page 21 of 23 City of Carlsbad Bond Proceeds Investment Report June 30, 2016 Fund Type Investments Stated Int. Rate Maturity Date Par Value Cost Source Assessment District 03-01 (College/Cannon) Fiscal Agent: BNY Mellon Project Fund Invesco Prime-Institutional Money Market N/A N/A $ 931,118 $ 931,118 Invesco Re-Assessment District 97-01 (Alga Road & College Blvd) Fiscal Agent: US Bank Imprvmnt Fund - Alga Invesco Prime-Institutional Money Market N/A N/A 279,337 $ 279,337 Invesco Assessment District 95-01 (Carlsbad Ranch) Fiscal Agent: BNY Mellon Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC) 5.83% N/A $ 1,054,237 $ 1,054,237 HSBC Bank of New York Assessment District 96-01 (Rancho Carrillo) Fiscal Agent: BNY Mellon Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC) 6.03% 09/02/28 $ 1,292,770 $ 1,292,770 I-ISBC Bank of New York ReAssessment District 2012-1 (College/Cannon & Poinsettia Lane) Fiscal Agent: BNY Mellon Reserve Fund BNY Goldman Sachs FS Money Market various N/A $ 2,170,668 $ 2,170,668 BNY Mellon Other BNY Goldman Sachs FS Money Market various N/A $ 6,058 $ 6,058 BNY Mellon Communities Facilities District #3 Improvement Area 1 Fiscal Agent: BNY Mellon Project Fund Invesco Prime-Institutional Money Market N/A N/A $ 1,841,732 $ 1,841,732 Invesco Reserve Fund BNY Dreyfus Money Market various 09/01/36 $ 778,001 $ 778,001 BNY Mellon Communities Facilities District #3 Improvement Area 2 Fiscal Agent: BNY Mellon Reserve Fund BNY Dreyfus Money Market various 09/01/38 $ 1,068,229 $ 1,068,229 BNY Mellon CPFA Golf Course Bonds Fiscal Agent: BNY Mellon Reserve Fund BNY Mellon (GIC) various N/A $ 1,399,180 $ 1,399,180 BNY Mellon 10,821,330 $ 10,821,330 Documents\junk\Qtr Inv Rpt0616 TT iLIHIHXS Item #12 - AB #22,374 July 26, 2016 Page 22 of 23 City of Carlsbad Summary of Outstanding Housing Loans As of June 30, 2016 Borrower Development Purpose First date issued Loans # of loans issued issued by City to Loans issued by # of loans outstanding Loan amount Developer loan due to City amount due to City City loan repaid to Developer loan (recorded as (not on City's City repaid to City AR) books) Type of Loan developers/ Developer to homeowners homeowners Payment deferred 15 years. No interest is due Individual homebuyers City-wide (CHAP) Sale 06/28/99 133 $1,680,000 $ 19 ($1,674,844) $ $5,156.33 $ 5,156 unless home is sold before 16th year Payment deferred 30 years. No interest is due Individual homebuyers Calavera Hills Sale 10/15/99 5 75,000 150,000 (60,000) (120,000) 15,000 30,000 45,000 unless home is sold before 31th year Payment deferred 30 years. No interest is due Individual homebuyers Cherry Tree Walk Sale 06/28/99 42 453,600 452,600 14 (324,000) (283,250) 129,600 169,350 298,950 unless home is sold before 31th year Payment deferred 30 years. No interest is due Individual homebuyers Serrano Sale 05/25/01 90 1,350,000 4,050,000 25 (1,005,133) (2,700,000) 344,867 1,350,000 1,694,867 unless home is sold before 31th year Individual homebuyers Rancho Carlsbad Sale 05/20/99 22 752,533 7 (592,646) 159,887 159,887 Principal is due when home is sold Individual homebuyers Solamar Sale 09/26/88 9 147,726 1 (135,065) 12,661 12,661 Principal is due when home is sold Catholic Charities Homeless shelter Shelter 09/19/97 1 200,000 1 200,000 200,000 Principal is due when property is sold Principal and 3% interest each year for 30 years CB Laurel Tree Apartments Laurel Tree Rentals 12/24/98 2 1,134,000 2 (1,134,000) (0) (0) when surplus cash is available Principal and 3% interest each year for 55 years USA Properties c/o CFHP Rancho Carrillo Rentals 03/05/01 1 1,157,584 1 (54,385) 1,103,199 1,103,199 when surplus cash is available Principal and 3% interest each year for 55 years Pacific Vista Las Flores Vista Las Flores Rentals 02/27/01 1 363,948 1 363,948 363,948 when surplus cash is available Principal and 3% interest each year for 55 years Poinsettia Housing Assoc Poinsettia Station Rentals 10/21/99 1 920,000 1 (346,022) 573,978 573,978 when surplus cash is available Principal and 3% interest each year for 15 years Bridge Housing Corp Villa Loma Rentals 11/04/94 2 2,212,000 o (2,212,000) when surplus cash is available Principal and 3% interest each year for 55 years Dove Family Housing La Costa Paloma Rentals 07/15/03 / 2,070,000 1 (2,070,000) (0) (0) when surplus cash is available Hrincipar ano d Yo interest eacn year tor no years CIC Calavera LP Mariposa Apts Rentals 09/15/04 1 1,060,000 1 1,060,000 1,060,000 when surplus cash is available Mulberry at Payment deferred 30 years. No interest is due Individual homebuyers Bressi Ranch Sale 04/29/05 100 1,840,000 19,660,200 100 1,840,000 19,660,200 21,500,200 unless home is sold before 31th year Payment deferred 30 years. No interest is due Individual homebuyers Village by the Sea Sale 10/28/05 11 220,000 4,087,200 11 220,000 4,087,200 4,307,200 unless home is sold before 31th year Principal and 3% interest each year for 55 years El Camino Family Housing Cassia Heights Rentals 03/07/06 1 1,454,276 1 1,454,276 1,454,276 when surplus cash is available Payment deferred 45 years. No interest is due Individual homebuyers Laguna Point Sale 07/06/06 3 210,000 2 (70,000) 140,000 140,000 unless home is sold before 46th year Payment deferred 30 years. No interest is due Individual homebuyers The Bluffs Sale 06/14/07 10 200,000 10 200,000 200,000 unless home is sold before 31th year Refer to Agenda Bill 18,569 / Resolution 2006- Individual homebuyers Roosevelt Gardens Sale 08/30/07 11 1,583,423 11 1,583,423 1,583,423 131 & AB 19,183 / R2007-255 Refer to AB18,251 / Resolution 2005-264 CIC La Costa Hunter's Point Rentals 08/19/08 1 1,932,000 1 1,932,000 1,932,000 Down Payment & Closing Refer to Agenda Bill 19,415 / Resolution 2008- Cost Assistance Various Assistance 06/25/09 22 255,518 21 (12,500) 243,018 243,018 121 CIC Glen Ridge, LP Glen Ridge Rentals 10/05/09 1 1,014,000 1 1,014,000 1,014,000 Refer to Agenda Bill 397 / Resolution 435 Tavarua Senior Apartments, LP Tavarua Rentals 12/14/11 1 1 Refer to Agenda Bill 418 / Resolution 475 North County Solutions for Refer to Agenda Bill 20,936/Resolution 2012- Change Property Acquisition Rentals 06/28/12 1 780,000 1 780,000 780,000 136 Refer to AB19,768/R2009-068; Catholic Charities Homeless shelter Shelter 03/01/10 3 507,585 3 507,585 507,585 AB20,530/R2011-081; AB20,764/R2011-288 Minor Individual homeowners N/A Home 05/20/10 10 39,676 a (2,083) 37,593 37,593 Refer to AB19,415 / Resolution 2008-121 Property Hospice of North Coast N/A Acquisition 02/27/13 1 1,065,000 1 1,065,000 1,065,000 Refer to AB21,116/Resolution 2013-027 Property Harding Street Neighbors, LP Carol-Harding Duplex Acquisition 03/14/13 1 7,408,000 1 7,408,000 7,408,000 Refer to AB21,028/Resolution 2012-235 Tracy Templeton Laguna Point Sale 04/17/13 1 108,150 1 108,150 108,150 TBD Payment deferred 30 years. No interest is due Thomas & Judy Kim Rose Bay Sale 08/23/13 1 229,775 1 229,775 229,775 unless home is sold before 3116 year Property Solutions for Change N/A Acquisition 12/19/14 1 2,646,000 1 2,646,000 2,646,000 Refer to AB21,763/Resolution 2014-243 tri Allowances (1,605,178) (1,605,178) X 491 $ 33,464,616 $ 28,400,000 251 $ (9,692,679) $ (3,103,250) $ 23,771,938 $ 25,296,750 $ 50,673,866 H MI April 2016: received $3,243.36 in CHAP loan repayments; received a $121,742.78 payment related to the Poinsettia Station Apartments. May 2016: received $1,469 in CHAP loan payments; received the final payment for the La Costa Paloma development. June H 2016: received $1,919 CHAP loan repayments 1-3 Item #12 - AB #22,374 July 26, 2016 Page 23 of 23