HomeMy WebLinkAbout2016-11-29; City Council; ; Report on City Investments as of October 31, 2016CA Review e6/
OCCA%CITY COUNCIL
uA'1141°Staff Report
`174/FoOt
Meeting Date:November 29, 2016
To:Mayor and Council Members vFrom:Kevin Crawford, City Manage*
Staff Contact:Craig Lindholm, City Treasurer; Nancy Sullivan, Deputy City Treasurer
Nancy.Sullivan@carlsbadca.gov or 760-602-2473
Subject:Report on City Investments as of October 31, 2016
Recommended Action
Accept and We report.
Executive Summary/Discussion
The city's Divestment 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 October 31, 2016 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 673,865,125 677,851,511
Cost of Investments 678,050,717 681,719,742
Amortized Cost (1)676,298,037 680,057,970
Market Value (2)677,716,972 682,584,006
(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 10/31/16.
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.
FUND EQUITY IN POOLED INVESTMENTS
(DollarAmounts in Millions)
Special RevenueGeneral$98 $/6
Internal Service $44 1 Capital Projects1Agency/Trust $14 tr v 3-`4
Enterprise _
$179
Total Treasurer's Investment Portfolio at Amortized Cost
October 31, 2016 $676 million
Report on City Investments October 31, 2016
Meeting Date:November 29, 2016
Page 2
Pooled Investment Interest Income
Current Prior Current Month
Cash Income Fiscal
I
Year-to-Date *3,192,338 2,365,370 826,968
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life Average Yield
(Years)To Maturity Modified Duration
August 2016 1.92 1.173%1.872
September 2016 1.91 1.173%1.860
October 2016 1.92 1.184%1.864
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 Analysis
None
Next Steps
The Report on City Investments is produced monthly by the City Treasurer.
Environmental Evaluation (CEQA}
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.
Public Notification
This report is made available at least 72 hours prior to the posting of the agenda.
Report on City Investments October 31, 2016
Meeting Date:November 29, 2016
Page 3
Exhibits
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.First Quarter Transactions
7.Detailed Investment Report
8.Fund Equity in Pooled Investments
9.Corporate Note and Commercial Paper Ratings
10.Percentage Weightings By Corporate Note Issuer
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF OCTOBER 31, 2016
BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS
AMORTIZED COST MARKET VALUE AVERAGE YIELD
Cash Income
Class Current Month Prior Month Current Month Prior Month Year to Date Current Month Prior Month
CD 15,036,966 15,285,293 15,274,151 15,524,720 77,123 1.58 1.58
FN 14,745,563 14,725,027 14,895,932 14,927,903 0 1.63 1.63
TR 77,678,141 74,051,054 78,067,087 74,589,720 351,558 1.15 1.12
FA 300,814,281 309,228,335 301,197,527 310,123,798 1,256,254 1.18 1.19
CN 161,544,960 158,038,750 161,804,149 158,688,355 1,176,876 1.50 1.49
LAIF 103,034,169 103,476,000 103,034,169 103,476,000 330,360 0.65 0.60
CUSTODY 3,147 23,791 3,147 23,791 28 0.00 0.00
SWEEP 2,896,796 4,867,266 2,896,796 4,867,266 140 0.02 0.02
BANK ACCT 544,013 362,454 544,013 362,454 0 0.02 0.02
TOTALS 676,298,037 $680,057,970 $677,716,972 $682,584,007 3,192,338 1.18%1.17%
CD -Certificate of Deposit FA -Federal Agency Custody -Investment Cash account
FN -Federal Discount Notes CN -Corporate Notes SWEEP -General Fund Overnight Cash acccount triTR -US Treasury LAIF -Local Agency Investment Fund Bank Account -General Fund Cash account kMH
DiHS
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CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF OCTOBER 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 247,380 0 14,782,537 15,029,917 2.2%
FN 0 0 14,396,011 14,396,011 2.1%
TR 10,002,737 17,307,989 50,423,284 77,734,011 11.5%
FA 25,272,195 32,343,435 243,506,491 301,122,121 44.4%
CN 29,124,848 7,980,960 126,184,724 163,290,532 24.1% (2)
LAIF 103,034,169 0 0 103,034,169 15.2%
CUSTODY 3,147 0 0 3,147 0.0%
SWEEP 2,896,796 0 0 2,896,796 0.4%
BANK ACCT 544,013 0 0 544,013 0.1%
TOTALS $171,125,285 (1)$57,632,385 (1)$449,293,048 $678,050,717 100.0%
% TOTALS 25.2%8.5%66.3%100.0%
Total within One Year $228,757,670 (1)
33.7%
POLICY:(1) Not less than $168,954,000 to mature within one year.(2/3rds of current year operating budget of $253,430,000.00)
(2)Policy states that not more than 30%of portfolio is to be invested in corporate notes.
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YIELD COMPARISON
PORTFOLIO EX-LAIF VS.LAIF
JULY 2010 -OCTOBER 2016
2.702.602.50 —2.40
2.30
2.202.10
ArsC Will
2.00
1.901.801.70
1.60
1.50
1.401.30 -
1.20
1.10
1.00
0.900.80
0.70
0.600.500.400.30
0.200.10
061/41 1409S #1/2 061/4.t
(it \It SS\OCI1/41 On)vas to 061/4.rt‘‘'06'e 061/4.-
d
MARKET YIELD CURVE
6/30/15, 6/30/16, 10/31/16
Market Rates3.5
3
2.5
2 ,®„..„...
1.5 -....
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1 —.0..........—....0.5 ....;1:s%
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0
3 Mth 2Yr 5Yr 10 Yr
3 Mth 2Yr 5Yr 10 Yr
-N-6/30/2015 .01 .65 1.65 2.35 Lri
—iii—6/30/2016 .26 .58 1.00 1.47 ZH
—It-10/31/2016 .30 .84 1.31 1.83
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Cumulative Cash Income
FY16 -17
Cumulative Monthly Interest Income
Millions $(October 2016)Millions $
10 8
9
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2 0.66 0.76 0.83 -11---•fr
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Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
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TRANSACTIONS FOR PERIOD:
10/01/16 TO 10/31/16 2nd QUARTER 2016-2017
Trans Investment Maturity Call Par Amount Return Investment
Date Date Date Type Security Date Value Coupon (Cost)Rate Interest Return
BUYS
OCTOBER
10/11/16 10/12/16 09/11/20 FA FHLB N/A 1,800,000.00 1.375%1,808,975.18 1.244%87,893.57 1,896,868.75
10/11/16 10/12/16 10/06/20 FA FHLB 1/6/2017 1,800,000.00 1.375%1,797,300.00 1.414%101,287.50 1,898,587.50
10/11/16 10/12/16 02/15/21 FA TVA N/A 3,000,000.00 3.875%3,315,660.00 1.370%189,058.75 3,504,718.75
10/11/16 10/12/16 06/11/21 FA FHLB N/A 1,500,000.00 2.250%1,559,427.00 1.370%97,979.25 1,657,406.25
10/11/16 10/14/16 09/01/21 CN COCA COLA N/A 3,600,000.00 1.550%3,581,496.00 1.660%290,839.00 3,872,335.00
10/25/16 10/26/16 04/18/18 FA FFCB N/A 1,600,000.00 0.750%1,598,592.00 0.810%19,141.33 1,617,733.33
10/25/16 10/26/16 04/30/16 TR US TREASURY N/A 2,400,000.00 0.750%2,400,000.00 0.750%27,244.57 2,427,244.57
10/25/16 10/26/16 07/14/21 FA FHLB N/A 2,500,000.00 1.125%2,476,850.00 1.328%155,806.25 2,632,656.25
10/27/16 10/28/16 10/31/20 TR US TREASURY N/A 1,750,000.00 1.375%1,759,570.31 1.235%86,875.85 1,846,446.16
10/27/16 10/28/16 06/30/21 TR US TREASURY N/A 2,500,000.00 1.125%2,477,400.00 1.325%154,053.80 2,631,453.80
10/27/16 10/28/16 10/07/21 FA FNMA N/A 2,500,000.00 1.375%2,491,075.00 1.450%178,794.79 2,669,869.79
TOTAL SECOND QUARTER 2016-2017 24,950,000.00 25,266,345.49 1.301%1,388,974.66 26,655,320.15
MATURITIES
OCTOBER 10/06/11 10/06/16 FA FFCB N/A 5,000,000.00 1.300%5,000,000.00 1.300%325,000.00 5,325,000.00
11/03/15 10/31/16 TR US TREASURY N/A 3,000,000.00 1.000%3,016,308.00 0.450%13,444.75 3,029,752.75
TOTAL SECOND QUARTER 2016-2017 8,000,000.00 8,016,308.00 0.980%338,444.75 8,354,752.75
CALLS
OCTOBER
02/25/16 02/26/16 02/26/21 FA FHLB (partial call)10/5/2016 3,520,000.00 1.690%3,520,000.00 1.690%782,374.80 4,302,374.80
08/21/15 08/26/15 08/14/20 CD WESTERN STATE BANK 10/14/2016 249,000.00 1.950%248,377.50 2.000%25,145.00 273,522.50
10/15/15 10/27/15 10/27/20 FA FNMA 10/27/2016 5,000,000.00 1.470%5,000,000.00 1.470%367,500.00 5,367,500.00
04/18/16 04/28/16 07/28/20 FA FHLMC 10/28/2016 1,500,000.00 1.500%1,500,000.00 1.500%95,625.00 1,595,625.00
05/15/15 05/18/15 04/30/18 FA FNMA 10/30/2015 4,416,000.00 1.125%4,418,428.80 1.106%144,127.20 4,562,556.00
05/22/13 05/23/13 04/30/18 FA FHLMC 10/30/2015 3,000,000.00 1.050%3,000,000.00 1.050%155,487.50 3,155,487.50
01/14/14 01/15/14 07/30/18 FA FHLMC 10/30/2015 1,000,000.00 1.100%980,870.00 1.538%69,088.33 1,049,958.33
TOTAL SECOND QUARTER 2016-2017 18,685,000.00 18,667,676.30 1.371%1,639,347.83 20,307,024.13
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INVESTMENT REPORT
AS OF OCTOBER 31, 2016
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN iDays)
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
5/15/2015 FA TVA 5.50% NON-CALL 500,000.00 551,225.00 0.742%8,587.50 559,812.50 795
7/25/2016 FA FHLB .625% NON-CALL 2,000,000.00 1,999,700.00 0.640%12,800.00 2,012,500.00 365
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
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
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
7/21/2016 FA FHLB 1.375% NON-CALL 5,000,000.00 5,048,990.00 0.770%63,301.67 5,112,291.67 596
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
10/26/2016 FA FFCB 0.75% NON-CALL 1,600,000.00 1,598,592.00 0.810%19,141.33 1,617,733.33 539 tli
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 X
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 ZH
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 edH10/19/2015 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 F3
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 --A
INVESTMENT REPORT
AS OF OCTOBER 31, 2016
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN 02Ani
7/27/2016 FA FNMA .875% ONE CALL 7/27/17 3,000,000.00 2,997750.00 0.913%54,750.00 3,052,500.00 730
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
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
7/26/2016 FA FNMA 1.05% ONE CALL 7/26/18 2,300,000.00 2,300,000.00 1.050%48,300.00 2,348,300.00 1,095
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
8/30/2016 FA FNMA 1.0% ONE CALL 8/28/18 2,400,000.00 2,400,000.00 1.000%71,866.67 2,471,866.67 1,093
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
7/19/2016 FA FHLMC 1.25% NON-CALL 3,000,000.00 3,027,363.00 1.250%92,741.17 3,120,104.17 1,170
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
INVESTMENT REPORT
AS OF OCTOBER 31, 2016
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN alyal
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
7/28/2016 FA FNMA 1.20% CALL 7/28/17 ONE TIME 4,850,000.00 4,850,000.00 1.200%203,700.00 5,053,700.00 1,279
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
7/13/2016 FA FNMA 1.25% CALL 4/13/17 ONE TIME 5,000,000.00 5,000,000.00 1.250%234,375.00 5,234,375.00 1,370
7/28/2016 FA FNMA 1.25% CALL 4/28/17 ONE TIME 3,750,000.00 3,750,000.00 1.250%175,781.25 3,925,781.25 1,370
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
7/13/2016 FA FFCB 1.19% CALL 7/13/17 CONT 4,250,000.00 4,250,000.00 1.190%202,300.00 4,452,300.00 1,461
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
9/7/2016 FA FFCB 1.32% CALL 8/24/17 CONT 3,000,000.00 2,998,260.00 1.335%158,710.00 3,156,970.00 1,447
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
10/12/2016 FA FHLB 1.375% NON-CALL 1,800,000.00 1,808,975.18 1.244%87,893.57 1,896,868.75 1,430
10/12/2016 FA FHLB 1.375% CALL 1/6/17 1,800,000.00 1,797,300.00 1.414%101,287.50 1,898,587.50 1,455
7/22/2016 FA FNMA 1.65% NON-CALL 3,250,000.00 3,316,612.00 1.165%166,507.79 3,483,119.79 1,589
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
7/19/2016 FA FHLB 1.40% CALL 10/19/16 CONT 3,500,000.00 3,500,000.00 1.400%220,500.00 3,720,500.00 1,645
9/9/2016 FA FAMCA 1.550% NON-CALL 2,000,000.00 2,018,640.00 1.550%117,071.11 2,135,711.11 1,599
10/12/2016 FA TENN VALLEY AUTHORITY 3.875% NON-CALL 3,000,000.00 3,315,660.00 1.370%189,058.75 3,504,718.75 1,587
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 480,000.00 480,000.00 1.690%74,495.20 554,495.20 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
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
10/12/2016 FA FHLB 2.25% NON-CALL 1,500,000.00 1,559,427.00 1.370%97,979.25 1,657,406.25 1,703
10/26/2016 FA FHLB 1.125% NON-CALL 2,500,000.00 2,476,850.00 1.328%155,806.25 2,632,656.25 1,722
10/28/2016 FA FNMA 1.375%NON-CALL 2,500,000.00 2,491,075.00 1.450%178,794.79 2,669,869.79 1,805
SUB-TOTAL 299,616,000.00 301,122,120.99 1.180%13,928,250.44 315,050,371.43 1,373
1/23/2015 FN FNMA 0°/0 NON-CALL 1,163,000.00 1,086,447.85 1.700%76,552.15 1,163,000.00 1,470
1/21/2015 FN FICO 0% NON-CALL 4,000,000.00 3,772,000.00 1.400%228,000.00 4,000,000.00 1,535
4/1/2015 FN FICO 0% NON-CALL 2,100,000.00 1,958,591.39 1.560%282,817.22 2,241,408.61 1,639
9/23/2015 FN FICO 0% NON-CALL 3,200,000.00 3,003,168.00 1.590%400,784.34 3,403,952.34 1,464
INVESTMENT REPORT
AS OF OCTOBER 31, 2016
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN am}
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 315,079,000.00 315,518,132.23 15,340,600.15 330,858,732.38 2,189
11/3/2015 TR US TREASURY .50%2,000,000.00 2,000,426.00 0.480%10,311.70 2,010,737.70 393
4/25/2014 TR US TREASURY 1.0%3,000,000.00 3,010,827.00 0.870%77,123.82 3,087,950.82 1,071
9/18/2015 TR US TREASURY 1.875%2,500,000.00 2,551,660.00 0.805%39,772.01 2,591,432.01 713
9/19/2014 TR US TREASURY 0.875%3,000,000.00 2,996,484.38 0.920%72,136.54 3,068,620.92 954
7/21/2015 TR US TREASURY .50%2,000,000.00 1,995,000.00 0.642%22,771.74 2,017,771.74 649
9/19/2014 TR US TREASURY 0.625%1,000,000.00 991,015.63 0.963%25,838.88 1,016,854.51 985
11/22/2013 TR US TREASURY .50%2,000,000.00 1,974,619.96 0.850%62,282.21 2,036,902.17 1,347
5/22/2015 TR US TREASURY .50%1,000,000.00 996,900.00 0.643%14,066.85 1,010,966.85 801
7/21/2015 TR US TREASURY .625%2,000,000.00 1,994,352.00 0.760%32,040.66 2,026,392.66 772
1/29/2016 TR US TREASURY 1.00%2,800,000.00 2,809,078.13 0.800%36,460.33 2,845,538.46 595
7/21/2015 TR US TREASURY .625%1,500,000.00 1,494,787.50 0.785%25,781.15 1,520,568.65 802
3/5/2015 TR US TREASURY .75%2,000,000.00 1,989,531.25 0.950%50,289.19 2,039,820.44 971
10/27/2015 TR US TREASURY .75%2,500,000.00 2,506,045.00 0.629%31,658.80 2,537,703.80 735
7/21/2015 TR US TREASURY .75%1,700,000.00 1,691,765.61 0.932%42,582.75 1,734,348.36 984
10/26/2016 TR US TREASURY .75%2,400,000.00 2,400,000.00 0.750%27,244.57 2,427,244.57 551
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%184,66549 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 1285%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
10/28/2016 TR US TREASURY 1.375%1,750,000.00 1,759,570.31 1.235%86,875.85 1,846,446.16 1,464
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
INVESTMENT REPORT
AS OF OCTOBER 31, 2016
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
8/19/2016 TR US TREASURY 1.375%3,000,000.00 3,037,662.00 1.100%156,145.74 3,193,807.74 1,715
10/28/2016 TR US TREASURY 1.375%2,500,000.00 2,477,400.00 1.325%154,053.80 2,631,453.80 1,706
SUB-TOTAL 77,365,000.00 77,734,010.94 1.145%3,251,245.17 80,985,256.11 1,215
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
9/29/2016 CN ROYAL BANK OF CANADA 1.20%NON-CALL 1,275,000.00 1,276,597.58 1.070%13,277.42 1,289,875.00 355
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
7/12/2016 CN IBM CORP 7.625% MAKE WHOLE CALL 2,628,000.00 3,005,118.00 1.167%75,418.12 3,080,536.12 825
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
INVESTMENT REPORT
AS OF OCTOBER 31, 2016
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN fDal
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(Yo 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-WHOL 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
7/26/2016 CN EXXON MOBIL 2.222% MAKE WHOLE CALL 1,000,000.00 1,034,050.00 1.440%68,038.55 1,102,088.55 1,679
9/16/2016 CN TOYOTA 1.90% MAKE WHOLE CALL 3,000,000.00 3,031,680.00 1.659%228,303.33 3,259,983.33 1,665
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
9/13/2016 CN MIRCOSOFT 1.55% MAKE WHOLE CALL 6,000,000.00 5,995,740.00 1.565%460,218.33 6,455,958.33 1,790
10/14/2016 CN COCA COLA 1.55% MAKE WHOLE CALL 3,600,000.00 3,581,496.00 1.660%290,839.00 3,872,335.00 1,783
SUB-TOTAL 159,902,000.00 163,290,531.96 1.496%10,334,379.90 173,624,911.86 1,414
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
12/11/2014 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
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
INVESTMENT REPORT
AS OF OCTOBER 31, 2016
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN DM'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
8/25/2016 CD BMO HARRIS BANK 1.10%248,000.00 248,000.00 1.100%5,456.00 253,456.00 729
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
8/30/2016 CD WASHINGTON TRUST 1.2%248,000.00 248,000.00 1.200%8,928.00 256,928.00 1,095
9/16/2016 CD ISRAEL DISCOUNT BK OF NY 1.3%248,000.00 248,000.00 1.300%9,689.91 257,689.91 1,095
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 2100%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 NATL 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
8/6/2015 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
INVESTMENT REPORT
AS OF OCTOBER 31, 2016
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN fail}
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
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 15,041,000.00 15,029,917.40 1.577%1,097,064.05 16,126,981.45 1,642
O WELLS FARGO BANK 543,504.00 543,504.00 0.020%0.30 543,504.30 1
O CORPORATE CASH MANAGEMENT ACCOUNT 2,896,796.07 2,896,796.07 0.020%1.59 2,896,797.66 1
O LIBRARY ACCOUNT 508.65 508.65 0.000%-508.65 1
O UNION TRUST 3,147.29 3,147.29 0.000%-3,147.29 1
O L A I F WATER DISTRICT 19,814,954.42 19,814,954.42 0.650%357.77 19,815,312.19 1
O L A I F PUBLIC IMPROVEMENT CORPORATION 23,651,000.00 23,651,000.00 0.650%427.03 23,651,427.03 1
O L A I F PUBLIC FINANCING CORPORATION 24,210,780.63 24,210,780.63 0.650%437.14 24,211,217.77 1
O L A I F CITY OF CARLSBAD 35,357,433.84 35,357,433.84 0.650%638.40 35,358,072.24 1
SUB-TOTAL 106,478,124.90 106,478,124.90 0.630%1,862.22 106,479,987.12
GRAND TOTAL 673,865,124.90 678,050,717.43 1.1839%30,025,151.49 708,075,868.92
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF OCTOBER 31, 2016
Cash Balance by Fund:
General 97,895,806
Special Revenue 26,041,108
Capital Projects:
General Capital Construction 38,990,446
Traffic Impact Fees 19,206,152
Public Facilities Fees 26,872,965
Park Development 8,792,066
Transnet Taxes 5,429,940
Drainage Fees 6,670,391
Special Districts 91,886,027
Infrastructure Replacement 100,962,356
Other Capital Construction 16,571,468 315,381,810
Total
Enterprise:
Carlsbad Municipal Water District 116,448,264
Sewer Fund 47,368,265
Solid Waste 7,260,066
Storm Water 6,266,734
Golf Course 1,534,485
Total 178,877,814
Internal Service 44,943,926
Agency Funds 13,861,613
Trust Funds 177,037
Total General Ledger Balance **677,179,114
Reconciling Adjustments (1)(881,077)
Total Treasurer's Investment Portfolio at Amortized Cost 676,298,037
(1) The Reconciling Adjustments consist of differences between the General Ledger which is prepared
on an accrual basis and the Treasurer's report which is prepared on the cash basis.Accrued Interest,
amortized premium or discounts and outstanding checks and deposits in transit are not included in the
Treasurer's summary.Differences between the time journal entries are posted and the time this
report is produced may also be a component of the adjustment.
**Figures based on best estimate at the time report run on 11/08/16
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of OCTOBER 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 M1 AA-F NR
BERKSHIRE HATAWAY M2 AA+A+
CHEVRON M2 AA-NR
COCA COLA M3 AA-A+
COLGATE-PALMOLIVE M3 AA-AA-
EXXON MOBIL AAA AA+NR
IBM CORP AA3 AA-A+
JOHNSON &JOHNSON MA AM AM
MASS MUTUAL GLOBAL M2 AA+AA+
MICROSOFT AAA AAA AA+
NEW YORK LIFE AAA AA+AM
PRIVATE EXPORT FUNDING (PEFCO)AAA NR AM
ROYAL BANK OF CANADA AM AAA AM
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 9,854,000
3M COMPANY Al AA-NR 08/07/2020 3,542,891 3,575,950
*The City's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions
to the policy.All of these investments are paying interest at the required times.The principal of all investments are
considered secure.It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events
indicate they should be sold.
•
EXHIBIT 10
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF OCTOBER 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 0.59%
ALPHABET, INC 1,094,000.00 0.16%
APPLE INC 8,575,865.00 1.26%
BERKSHIRE HATHAWAY 12,981,893.88 1.91%
CHEVRON 13,865,384.00 2.04%
COCA COLA CO 8,073,352.17 1.19%
COLGATE-PALMOLIVE 5,963,635.00 0.88%
EXXON MOBIL 9,393,774.99 1.39%
HSBC BANK USA 10,000,000.00 1.47%
IBM CORP 8,085,639.42 1.19%
JOHNSON & JOHNSON 7,443,878.49 1.10%
MASS MUTUAL 6,842,020.01 1.01%
MICROSOFT 14,591,560.00 2.15%
3M COMPANY 3,554,215.00 0.52%
NEW YORK LIFE 9,405,696.83 1.39%
PEFCO 10,256,822.90 1.51%
ROYAL BANK OF CANADA 3,566,040.08 0.53%
TOYOTA 7,055,840.00 1.04%
WAL-MART 13,511,314.19 1.99%
WESTPAC BANKING CORP 5,000,000.00 0.74%
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
Investment Cost Percent of Portfolio**
FAMCA 16,116,810.00 2.38%
FICO 8,733,759.39 1.29%
FEDERAL FARM CREDIT BANK 62,164,850.43 9.17%
FEDERAL HOME LOAN BANK 90,652,926.05 13.37%
FEDERAL HOME LOAN MORTGAGE CORP 49,271,813.00 7.27%
FEDERAL NATIONAL MORTGAGE ASSOC 81,960,328.37 12.09%
RFCO STRIP PRINCIPAL 2,750,760.00 0.41%
TENNESSEE VALLEY AUTHORITY 3,866,885.00 0.57%
U.S.TREASURY 77,734,010.94 11.46%
Total Portfolio $678,050,717.46
*No more than 5% may be invested with a single corporate issuer.
**There are no percentage limits on federal agency issuers.