HomeMy WebLinkAbout2016-01-12; City Council; 22180; Report on City Investments as of November 30, 2015CITY OF CARLSBAD -AGENDA BILL
AB#
MTG.
DEPT.
RECOMMENDED ACTION:
Accept and file report.
ITEM EXPLANATION:
REPORT ON CITY INVESTMENTS
AS OF NOVEMBER 30, 2015
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 November 30 , 2015 is summarized below.
I Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 681,563,952 688,170,003
Cost of Investments 685,154,096 691,691,851
Amortized Cost (1) 682,683,403 689,186,202
Market Value (2) 682,032,115 690,191,196
(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 11/30/15.
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)
General
Internal Service $41
Agency/Trust $15
Enterprise $185
Capital Projects
$303
Total Treasurer's Investment Portfolio at Amortized Cost
November 30,2015 $683 million
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancy.Sullivan@carlsbadca.gov
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FOR CLERKS USE.
COUNCIL ACTION: APPROVED
DENIED
CONTINUED
WITHDRAWN
AMENDED
0
0
0
0
0
CONTINUED TO DATE SPECIFIC
CONTINUED TO DATE UNKNOWN
RETURNED TO STAFF
o ____ _
OTHER-SEE MINUTES
REPORT RECEIVED
0
0
0 ~
Report on City Investments as November 30, 20 I 5
Meeting Date: January I 2, 20 I 6
Page 2
I
Cash Income Fiscal
Year-to-Date*
Pooled Investment Interest Income
Current Prior Current Month
Month FYTD Month FYTD Income
3,606,446 2,907,217 699,229
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life Average Yield
(Years) To Maturity Modified Duration
SEPTEMBER 2015 1.88 1.111% 1.871
OCTOBER 2015 1.93 1.116% 1.875
NOVEMBER 2015 2.01 1.163% 1.947
All pooled investments have been made in accordance with the city's Investment Policy adopted
January 2, 1985 and last revised February 10, 2015. All investments were initially made in
accordance with the city's Investment Policy. Events subsequent to the purchase might have
resulted in some investments not being in compliance with the current policy. These events are
typically a change in the city's Investment Policy, a change in the credit rating subsequent to a
purchase, or a temporary reduction in total portfolio assets. See Exhibit 9 for details.
The pooled investment portfolio has the ability to meet the city's cash flow demands for the next
six (6) months.
FISCAL IMPACT: None
ENVIRONMENTAL IMPACT: Pursuant to Public Resources Code section 21065, this action does
not constitute a "project" within the meaning of CEQA in that it has no potential to cause either a
direct physical change in the environment, or a reasonably foreseeable indirect physical change in
the environment, and therefore does not require environmental review.
EXHIBITS FOR POOLED INVESTMENTS:
I
1. Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield
2. Investment Portfolio Breakdown Of Maturities
3. Yield Comparison Graph
4. Market Yield Curve
5. Cumulative Cash Income Graph
6. Second Quarter Transactions
7. Detailed Investment Report
8. Fund Equity in Pooled Investments
9. Corporate Note and Commercial Paper Ratings
10. Percentage Weightings By Corporate Note Issuer
CITY OF CARLSBAD INVESTMENT
AS OF NOVEMBER 30, 2015
BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS
AMORTIZED COST MARKET VALUE AVERAGE YIELD
Cash Income
Class Current Month Prior Month Current Month Prior Month Year to Date Current Month Prior Month
CD 15,289,216 15,537,892 15,301,089 15,539,594 99,393 1.50 1.48
FN 14,522,985 14,503,112 14,405,953 14,455,758 0 1.63 1.63
TR 56,278,697 51,266,653 56,303,329 51,508,122 176,930 1.09 1.15
FA 315,470,268 313,747,943 315,117,363 314,308,875 1,696,690 1.17 1.18
CN 172,900,619 158,162,598 172,682,763 158,410,845 1,457,072 1.61 1.57
LAIF 105,882,209 120,945,480 105,882,209 120,945,480 176,161 0.37 0.36
CUSTODY 84,247 11,578,823 84,247 11,578,823 30 0.00 0.00
SWEEP 1,864,287 2,862,616 1,864,287 2,862,616 171 0.02 0.02
BANKACCT 390,875 581,084 390,875 581,084 0 0.02 0.02 --
TOTALS $682,683,403 $689,186,202 $682,032,115 $690,191,196 3,606,446 1.16% 1.12%
CD -Certificate of Deposit FA-Federal Agency Custody -Investment Cash account
FN -Federal Discount Notes CN-Corporate Notes SWEEP -General Fund Overnight Cash acccount
TR -US Treasury LAIF -Local Agency Investment Fund Bank Account -General Fund Cash account t:z:l :X: ::r:l
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CLASS
CD
FN
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANKACCT
TOTALS
%TOTALS
CITY CARLSBAD INVESTMENT PORTFOLIO
AS OF NOVEMBER 30, 2015
BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME
WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR I TO 5 YEARS TOTAL
2,234,648 0 13,044,182 15,278,831
0 0 14,396,011 14,396,011
0 0 56,260,670 56,260,670
16,470,628 9,526,907 289,918,944 315,916,478
34,903,362 24,879,501 115,297,625 175,080,487
I 05,882,209 0 0 I 05,882,209
84,247 0 0 84,247
1,864,287 0 0 1,864,287
390,875 0 0 390,875
$161,830,257 (1) $34,406,407 (I) $488,917,432 $685,154,096
23.6% 5.0% 71.4% 100.0%
Total within One Year $196,236,664 (1)
POLICY:
28.6%
( 1) Not less than $160,258,000 to mature within one year. (2/3rds of current year operating budget of $240,385,000.00)
(2) Policy states that not more than 30% of portfolio is to be invested in corporate notes.
%TOTAL
2.2%
2.1%
8.2%
46.1%
25.6~'0 (2)
15.5%
0.0%
0.3%
0.1%
100.0%
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2.25
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YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 2000-NOVEMBER 2015
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MARKET YIELD CURVE
6/30/14, 6/30/15, 11/30/15
Market Rates 3.5 ~==~_:_:_:__:__::: ________________ _
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Cumulative
Millions$
Cumulative Cash Income
FY15-16
(November 2015)
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TRANSACTIONS FOR PERIOD:
10/01/15 TO 11/30/15 2nd QUARTER 2015-2016
Trans Investment Call Par Amount Return Investment
Date Date ~ Security Date Value COUQOn (Cost) Rate Interest Return
BUYS
OCTOBER
10/02/15 10/05/15 FA FHLMC N/A 3,500,000.00 1.400% 3,519,495.00 1.264% 188,299.44 3,707,794.44
10/05/15 10/06/15 FA FNMA N/A 4,183,000.00 1.330% 4,197,807.82 1.240% 210,509.47 4,408,317.29
10/05/15 10/06/15 TR US TREASURY N/A 4,000,000.00 1.625% 4,083,992.00 1.010% 142,442.43 4,226,434.43
10/05/15 10/08/15 CN APPLE, INC N/A 2,500,000.00 2.100% 2,558,025.00 1.432% 129,808.33 2,687,833.33
10/08/15 10/09/15 FA FHLB N/A 2,000,000.00 0.750% 2,004,800.00 0.622% 23,491.67 2,028,291.67
10/05/15 10/15/15 FA FFCB 1/15/2016 3,000,000.00 1.440% 3,000,000.00 1.440% 172,800.00 3,172,800.00
10/16/15 10/19/15 FA FFCB 1/13/2016 3,000,000.00 1.030% 3,000,000.00 1.030% 84,460.00 3,084,460.00
10/06/15 10/19/15 CD COMENITY CAP BANK N/A 249,000.00 2.000% 249,000.00 2.000% 24,818.14 273,818.14
10/20/15 10/20/15 FA FFCB 1/20/2016 5,000,000.00 1.625% 5,000,000.00 1.625% 365,625.00 5,365,625.00
10/23/15 10/23/15 FN RFCSP N/A 3,000,000.00 0.000% 2,750,760.00 1.750% 249,240.00 3,000,000.00
10/27/15 10/27/15 FA FNMA 10/27/2016 5,000,000.00 1.470% 5,000,000.00 1.470% 367,500.00 5,367,500.00
10/27/15 10/27/15 TR US TREASURY N/A 2,500,000.00 0.750% 2,506,045.00 0.629% 31,658.80 2,537,703.80
10/27/15 10/27/15 FA FHLB N/A 4,000,000.00 1.125% 4,020,840.00 0.941% 108,785.00 4,129,625.00
10/28/15 10/28/17 FA FHLMC 1/28/2016 3,000,000.00 0.700% 3,000,000.00 0.700% 36,750.00 3,036, 750.00
10/28/15 10/28/15 CN JOHNSON & JOHNSON N/A 4,000,000.00 1.650% 4,070,600.00 1.070% 134,183.33 4,204,783.33
10/28/15 10/28/15 FA FFCB 1/28/2016 4,650,000.00 1.150% 4,648,837.50 1.158% 174,956.25 4,823,793.75
10/29/15 10/29/15 CN WAL-MART STORES N/A 4,000,000.00 1.125% 4,024,400.00 0.873% 85,850.00 4,110,250.00
10/30/15 10/30/15 FA FHLB N/A 3,500,000.00 0.750% 3,507,910.00 0.580% 27,235.83 3,535,145.83
NOVEMBER
10/30/15 11/02/15 FA FNMA 4/29/2016 5,000,000.00 1.200% 4,992,500.00 1.247% 202,000.00 5,194,500.00
10/29/15 11/03/15 CN 3M N/A 3,500,000.00 2.000% 3,554,215.00 1.660% 279,062.78 3,833,277.78
11/02/15 11/03/15 FA FNMA N/A 2, 700,000.00 0.875% 2,700,891.00 0.860% 52,593.37 2,753,484.37
11/02/15 11/03/15 TR US TREASURY N/A 3,000,000.00 1.000% 3,016,308.00 0.450% 13,444.75 3,029,752.75
11/02/15 11/03/15 TR US TREASURY N/A 2,000,000.00 0.500% 2,000,426.00 0.480% 10,311.70 2,010,737.70
10/29/15 11/03/15 CN APPLE, INC N/A 4,000,000.00 2.000% 4,028,000.00 1.837% 332,666.66 4,360,666.66
11/05/15 11/1 0/15 CN MICROSOFT N/A 5,000,000.00 2.000% 5,018,550.00 1.920% 479,505.56 5,498,055.56
10/30/15 11/04/15 CN EXXON MOBIL N/A 5,000,000.00 1.912% 5,057,700.00 1.630% 357,097.78 5,414,797.78
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
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TOTAL SECOND QUARTER 2015-2016 93,282,000.00 93,510,602.32 1.226% 4,398,096.29 97,908,698.61
MATURITIES
OCTOBER
10/28/10 10/28/15 FA FNMA 4/28/2011 2,000,000.00 1.500% 1,999,000.00 1.510% 151,000.00 2,150,000.00
10/09/12 10/09/15 CN GENERAL ELECTIC COMPANY N/A 5,000,000.00 0.850% 5,022,225.00 0.700% 105,275.00 5,127,500.00
01/23/13 10/09/15 CN GENERAL ELECTIC COMPANY N/A 3,000,000.00 0.850% 3,010,440.00 0.720% 58,693.33 3,069,133.33
10/06/11 10/25/15 CN WAL-MART STORES N/A 3,000,000.00 1.500% 3,049,826.34 1.080% 132,548.66 3,182,375.00
05/15/12 10/25/15 CN WAL-MART STORES N/A 2,630,000.00 1.500% 2,696,944.02 0.750% 68,939.31 2,765,883.33 I:Ij
10/17/12 10/16/15 CD COMENITYCAP BANK N/A 249,000.00 0.500% 248,601.60 0.550% 4,233.74 252,835.34 :X:
NOVEMBER ::r1
H 02/10/12 02/10/12 CN PROCTER & GAMBLE N/A 2,844,000.00 1.800% 2,965,410.36 0.650% 71,270.64 3,036,681.00 tJj
11/07/12 11/07/12 CD EAGLE BANK N/A 249,000.00 0.600% 249,000.00 0.600% 4,490.30 253,490.30 H
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TOTAL SECOND QUARTER 2015-2016 18,972,000.00 19,241,447.32 0.736% 596,450.98 19,837,898.30 0"'1
TRANSACTIONS FOR PERIOD:
10/01/15 TO 11/30/15 2nd QUARTER 2015-2016
Trans Investment Call Par Amount Return Investment
Date Date ~ Security Date Value Coupon (Cost) Rate Interest Return
CALLS
OCTOBER
12/18/12 12/19/12 FA FHLB 10/9/2015 3,000,000.00 1.000% 2,999,400.00 1.004% 147,266.67 3,146,666.67
07/09/15 07/10/15 FA FHLMC 10/9/2015 1 ,600,000.00 1.600% 1 ,593,088.00 1.700% 122,040.89 1 ,715,128.89
05/06/15 05/07/15 FA FFCB 10/13/2015 3,000,000.00 1.690% 2,994,750.00 1.732% 223,682.50 3,218,432.50
02/13/15 02/17/15 FA FFCB 10/13/2015 2,000,000.00 1.370% 1 ,996,000.00 1.430% 98,606.11 2,094,606.11
12/04/12 12/05/12 FA FFCB 10/14/2015 2,266,000.00 0.657% 2,265,433.50 0.657% 57,805.03 2,323,238.53
03/21/13 04/17/13 FA FHLMC 10/17/2015 5,000,000.00 1.100% 4,993, 750.00 1.126% 281,250.00 5,275,000.00
07/15/14 07/18/14 FA FHLB 10/18/2015 1,000,000.00 1.650% 991,430.00 1.830% 91,070.00 1 ,082,500.00
01/15/14 01/16/14 FA FFCB 10/21/2015 1 ,500,000.00 1.340% 1,474,500.00 1.718% 119,858.33 1 ,594,358.33
06/25/15 07/21/15 FA FHLB 10/21/2015 2,000,000.00 1% STEP 2,000,000.00 2.325% 235,000.00 2,235,000.00
11/10/14 11/12/14 FA FHLB 10/24/2015 3,000,000.00 1.200% 2,984,520.00 1.350% 142,680.00 3,127,200.00
03/05/15 03/06/15 FA FNMA 10/26/2015 1 ,000,000.00 1.010% 998,000.00 1.087% 28,652.78 1,026,652.78
12/14/12 12/28/12 FA FHLB 10/28/2015 5,000,000.00 0.950% 5,000,000.00 0.950% 237,500.00 5,237,500.00
04/30/15 05/01/15 FA FHLMC 10/29/2015 1,000,000.00 1.300% 999,750.00 1.307% 45,677.78 1,045,427.78
01/20/15 01/30/15 FA FHLMC 10/30/2015 4,000,000.00 0.625% STEP 4,000,000.00 1.656% 265,000.00 4,265,000.00
02/26/15 02/27/15 FA FHLMC 10/30/2015 1 ,000,000.00 1.000% 999,500.00 1.019% 30,250.00 1 ,029, 750.00
01/08/13 01/30/13 FA FHLB 10/30/2015 5,000,000.00 1.000% 5,000,000.00 1.000% 250,000.00 5,250,000.00
01/03/13 01/30/13 FA FHLB 10/30/2015 5,000,000.00 1.000% 5,000,000.00 1.000% 250,000.00 5,250,000.00
NOVEMBER
01/31/13 02/05/13 FA FHLB 11/3/2015 1 ,666,666.50 1.000% 1 ,662,499.83 1.050% 137,222.22 1,799,722.05
10/23/14 10/24/14 FA FNMA 11/8/2015 2,500,000.00 1.625% 2,482,550.00 1.778% 211,998.61 2,694,548.61
03/02/15 03/12/15 FA FHLB 11/12/2015 1 ,000,000.00 0.5% STEP 1,000,000.00 2.075% 97,333.33 1 ,097,333.33
11/13/14 11/20/14 FA FFCB 11/20/2015 2,250,000.00 1.940% 2,250,000.00 1.940% 218,250.00 2,468,250.00
01/07/15 01/08/15 FA FNMA 11/24/2015 550,000.00 1.750% 550,000.00 1.750% 42,136.11 592,136.11
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TOTAL SECOND QUARTER 2015-2016 54,332,666.50 54,235,171.33 1.332% 3,333,280.36 57,568,451.69
INVESTMENT REPORT
AS OF NOVEMBER 30, 2015
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
6/20/2012 FA FNMA 2.00% DUE 12/30/15 NON-CALL 4,000,000.00 4,186,600.00 0.660% 95,622.22 4,282,222.22 1,288
2/1/2013 FA FFCB 4% DUE 2/1/16 NON-CALL 5,000,000.00 4,998,750.00 0484% 61,250.00 5,060,000.00 1,095
6/20/2012 FA FNMA 2.25% DUE 3/15/16 NON-CALL 5,000,000.00 5,285,278.17 0.700% 135,034.33 5,420,312.50 1,364
4/27/2011 FA FHLB 2.5% DUE 4/27/16 NON-CALL 2,000,000.00 2,000,000.00 2.500% 250,000.00 2,250,000.00 1,827
6/12/2014 FA FNMA .375%7/5/16 NON-CALL 3,000,000.00 2,994,690.00 0461% 28,528.75 3,023,218.75 754
6/12/2014 FA FHLB .59% DUE 9/12/16 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% DUE 9/15/16 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% DUE 9/19/16 NON-CALL 500,000.00 504,332.50 0.970% 6,674.31 511 ,006.81 830
6/12/2014 FA FNMA 1.25% DUE 9/28/16 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% DUE 10/06/16 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% DUE 11/23/16 NON-CALL 2,500,000.00 2,502,350.00 0.570% 24,559.73 2,526,909.73 631
5/28/2013 FA FNMA .50% DUE 11/28/16 CALL 5/28/14 QRTYLY 5,000,000.00 4,997,500.00 0.514% 90,000.00 5,087,500.00 1,280
11/27/2012 FA FHLB .55% DUE 12/27/16 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% DUE 12/27/16 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% DUE 12/30/16 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% DUE 1/03/17 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% DUE 03/10/17 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% DUE 3/2/17 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% DUE 4/27/2017 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% DUE 5/8/17 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% DUE 5/12/17 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% DUE 6/16/17 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% DUE 6/28/17 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% DUE 7118/17 NON-CALL 500,000.00 551,225.00 0.742% 8,587.50 559,812.50 795
5/20/2015 FA FHLMC 1.0% DUE 7/28/17 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% DUE 7/28/17 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% DUE 8/09/17 CALL 11/26/13 QRTL Y 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% DUE 8/28/17 NON-CALL 2,000,000.00 2,004,800.00 0.622% 23,491.67 2,028,291.67 689
5/20/2015 FA FHLB 1.75% DUE 9/18/17 CALL 3/18/16 ONE CALL 2,500,000.00 2,528,900.00 1.244% 72,940.28 2,601 ,840.28 852
3/26/2014 FA FHLB 1.05% DUE 9/26/17 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
12/29/2014 FA FHLB 1.05% DUE 9/29/17 CALL 12/29/15 CONT 3,000,000.00 2,995,500.00 1.106% 91,125.00 3,086,625.00 1,005
10/18/2012 FA FFCB .87% DUE 10/18/17 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% DUE 10/23/17 NON-CALL 2,000,000.00 1,995,000.00 1.229% 92,000.00 2,087,000.00 1,369
11/27/2012 FA FNMA 0.90% DUE 11/27/17 CALL 11/27/13 QRTL Y 4,000,000.00 4,000,000.00 1.100% 180,000.00 4,180,000.00 1,826
2/19/2013 FA FFCB .87% DUE 11/27/17 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% DUE 11/28/17 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% DUE 12/6/17 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% DUE 12/08/17 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% DUE 1/22/15 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% DUE 1/24/18 NON-CALL 5,000,000.00 5,004,870.00 0.910% 227,500.83 5,232,370.83 1,825 t::tj
:X: 1/29/2015 FA FHLB .750% DUE 1/29/18 CALL 1/29/16 STEP 2,000,000.00 2,000,000.00 1.330% 80,000.00 2,080,000.00 1,096 :::r::
2/1/2013 FA FAMCA 1.05% DUE 1/30/18 NON-CALL 5,000,000.00 5,000,000.00 1.000% 262,354.17 5,262,354.17 1,824 H
2/5/2013 FA FHLB 1.00% DUE 2/5/18 CALL 8/5/13 CONT 3,333,333.50 3,325,000.17 1.050% 83,518.53 3,408,518.70 1,826 tJj
H 11/3/2015 FA FNMA .875% DUE 2/8/18 NON-CALL 2,700,000.00 2, 700,891.00 0.860% 52,593.37 2,753,484.37 828 8
5/8/2013 FA FHLB 1.10% DUE 2/20/18 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% DUE 2/20/18 NON-CALL 2,500,000.00 2,500,000.00 1.110% 83,250.00 2,583,250.00 1,096 -..]
INVESTMENT REPORT
AS OF NOVEMBER 30, 2015
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
3/12/2013 FA FFCB 1.03% DUE 3/12/18 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% DUE 3/20/18 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% DUE 3/20/18 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 1.05% DUE 4/30/18 CALL 4/30/14 QRTL Y 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% DUE 4/30/18 CALL 10/30/15 QRTL Y 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% DUE 10/31/18 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% DUE 6/4/18 CALL 7/4/13 CONT 3,000,000.00 2,964,750.00 1.050% 193,100.00 3,157,850.00 1,831
6/12/2013 FA FHLMC 1.20% DUE 6/12/18 CALL 9/12/13 QRTLY 3,000,000.00 2,999,100.00 1.206% 180,900.00 3,180,000.00 1,826
6/13/2013 FA FNMA 0.80% DUE 6/13/18 CALL 12/13/13 QRTLY STEP 5,000,000.00 4,930,000.00 1.407% 351,250.00 5,281,250.00 1,826
6/20/2013 FA FNMA 1.25% DUE 6/20/18 CALL 12/20/13 QRTLY 4,000,000.00 3,977,200.00 1.360% 272,800.00 4,250,000.00 1,826
10/19/2015 FA FFCB 1.03% DUE 7/13/18 CALL 1/13/16 CONT 3,000,000.00 3,000,000.00 1.030% 84,460.00 3,084,460.00 998
7/27/2015 FA FHLMC 1.150% DUE 7/27/18 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
1/15/2014 FA FHLMC 1.10% DUE 7/30/18 CALL 1/30/18 QRTL Y 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% DUE 7/30/18 NON-CALL 1 '1 00,000.00 1 ,096,139.00 1.102% 42,452.67 1 '138,591.67 1,280
5/1/2015 FA FFCB 1.24% DUE 7/30/18 CALL 517/15 CONT 1 ,095,000.00 1,095,000.00 1.240% 44,090.78 1 '139,090.78 1,186
5/5/2014 FA FFCB 1.6% DUE 9/5/18 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% DUE 9/14/18 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% DUE 9/18/18 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% DUE 9/24/18 CALL 9/24/14 ONE TIME 2,250,000.00 2,196,562.50 1.729% 180,037.50 2,376,600.00 1,712
1/8/2014 FA FFCB 1.250% DUE 10/2/18 CALL 1/14/14 CONT 1,750,000.00 1,705,900.00 1.808% 147,641.67 1 ,853,541.67 1,728
4/22/2015 FA FHLB 1.250% DUE 10/22/18 CALL 4/22/16 1,000,000.00 1,000,000.00 1.250% 43,750.00 1,043,750.00 1,279
3/30/2015 FA FHLB 1.30% DUE 10/30/18 NON-CALL 1,000,000.00 1,000,000.00 1.300% 46,583.33 1,046,583.33 1,310
4/8/2014 FA FHLB 1.2% Due 11/21/18 CALL 4/21/14 Monthly 2,250,000.00 2,198,250.00 1.720% 176,475.00 2,374,725.00 1,688
5/2/2014 FA FNMA 1.625% DUE 11/27/18 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% DUE 11/27/18 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% DUE 11/30/18 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% DUE 12/14/18 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% DUE 12/14/18 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% DUE 12/18/18 NON-CALL 1,000,000.00 992,180.00 1.300% 49,925.56 1 ,042, 105.56 1,397
6/30/2015 FA FHLB 1.4% DUE 12/24/18 CALL 6/24/16 ONE TIME 2,000,000.00 2,000,000.00 1.400% 97,533.33 2,097,533.33 1,273
4/6/2015 FA FHLB 1.30% DUE 12/28/18 ONE CALL 3/30/16 1,500,000.00 1 ,500,000.00 1.300% 72,691.67 1 ,572,691.67 1,362
7/28/2015 FA FHLB 1.250% DUE 12/28/18 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% DUE 1/28/19 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% DUE 1/29/19 CALL 4/29/16 5,000,000.00 4,992,500.00 1.247% 202,000.00 5,194,500.00 1,184
5/26/2015 FA FNMA 1.375% DUE 2/26/19 CALL 2/26/16 ONE TIME 1 ,500,000.00 1,501,395.00 1.350% 75,948.75 1,577,343.75 1,372
12/9/2014 FA FNMA 1.75% DUE 2/27/19 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% DUE 2/27/19 NON-CALL 1 ,852,000.00 1,863,630.56 1.545% 120,864.61 1,984,495.17 1,538
5/28/2015 FA FHLMC 1.5% DUE 2/28/19 CALL 8/28/15 QRTLY 2,500,000.00 2,500,000.00 1.500% 140,625.00 2,640,625.00 1,372
10/6/2014 FA FHLB 1.875% DUE 3/8/19 NON-CALL 2,000,000.00 2,011,440.00 1.875% 154,393.33 2,165,833.33 1,614
1/29/2015 FA FHLMC 1.570% DUE 4/29/19 CALL 1/29/16 2,000,000.00 2,000,000.00 1.570% 134,450.00 2,134,450.00 1,551
6/6/2014 FA FHLMC 1.2% DUE 5/7/19 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% DUE 5/30/19 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% DUE 5/30/19 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% DUE 6/14/19 NON-CALL 1 ,060,000.00 1,060,000.00 1,500% 62,230.83 1 '122,230.83 1,430
6/24/2015 FA FFCB 1.52% DUE 6/24/19 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% DUE 6/24/19 NON-CALL 2,250,000.00 2,251,282.50 1.505% 135,327.50 2,386,610.00 1,459
6/30/2015 FA FHLMC 1.5% DUE 6/28/19 CALL 86/28/16 ONE TIME 2,300,000.00 2,300,000.00 1.500% 137,808.33 2,437,808.33 1,459
INVESTMENT REPORT
AS OF NOVEMBER 30, 2015
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
1/23/2015 FA FFCB 2.15% DUE 7/17/19 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% DUE 8/1/19 NON-CALL 2,500,000.00 2,493,975.00 1.305% 147,518 06 2,641,493.06 1,653
11/27/2015 FA FNMA 1.50% DUE 8/27/19 CALL 5/27116 2,000,000.00 1 ,999,500.00 1.507% 113,000.00 2,112,500.00 1,369
10/23/2014 FA FHLB 2.00% DUE 9/13119 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% DUE 9/13/19 NON-CALL 2,000,000.00 2,000,440.00 1.370% 127,282.22 2,127,722.22 1,696
10/24/2014 FA FNMA 1.55% DUE 10/15/19 CALL 1/15115 QRTLY 1,000,000.00 984,640.00 1.875% 92,472.50 1,077,112.50 1,817
10/15/2015 FA FFCB 1.44% DUE 10/15/19CALL 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% DUE 10/24/19 NON-CALL 4,183,000.00 4,197,807.82 1.240% 210,509.47 4,408,317.29 1,479
1/21/2015 FA FNMA 1.25% DUE 11/21/19 CALL 2/21115 QRTLY STEP 2,500,000.00 2,498,750.00 1.250% 271,041.67 2,769,791.67 1,765
6/15/2015 FA FHLB 2.375% DUE 12/13/19 NON-CALL 3,370,000.00 3,468,026.56 1.700% 261,697.54 3,729,724.10 1,642
6/15/2015 FA FFCB 2.0% DUE 12/30/19 CALL 12130115 CONT 1,950,000.00 1 ,950,000.00 2.000% 177,125.00 2,127,125.00 1,659
6/24/2015 FA FHLMC 1.625% DUE 12/24/19 CALL 12124/15 QRTLY 1,500,000.00 1,494,000.00 1.718% 115,687.50 1 ,609,687.50 1,644
10/512015 FA FHLMC 1.40% DUE 1/9/20 NON-CALL 3,500,000.00 3,519,495.00 1.265% 189,299.44 3,708,794.44 1,557
4/6/2015 FA FFCB 1.690% DUE 2/313/20 CALL 419/15 CONT 1 ,500,000.00 1 ,495,500.00 1.755% 127,517.92 1,623,017.92 1,774
4/1/2015 FA FNMA 1.00% DUE 2/19/20 CALL 8/19115 QRTLY STEP 2,000,000.00 2,001,000.00 2.097% 206,666.67 2,207,666.67 1,785
4/112015 FA FHLB 2.25% DUE 3/23/20 CALL 9/23/16 ONE TIME 2,750,000.00 2,812,562.50 1.770% 245,437.50 3,058,000.00 1,818
4/1/2015 FA FNMA 1.70% DUE 3/30/20 CALL 3/30/16 QRTLY 1,099,000.00 1 ,099,549.50 1.690% 92,813.60 1,192,363.10 1,825
10/20/2015 FA FFCB 1.625% DUE 4120120 CALL 1/20/16 CONT 5,000,000.00 5,000,000.00 1.625% 365,625.00 5,365,625.00 1,644
4/29/2015 FA FHLMC 1.0% DUE 4129/20 CALL 7129/15 QRTLY STEP 1,500,000.00 1 ,498,500.00 2.109% 160,875.00 1 ,659,375.00 1,827
4/29/2015 FA FNMA 1.6% DUE 4/29/20 CALL 4/29/16 ONE CALL 2,000,000.00 2,000,000.00 1.600% 160,000.00 2,160,000.00 1,827
5/1/2015 FA FNMA 1.55% DUE 4/29/20 CALL 4129/16 ONE CALL 2,650,000.00 2,646,025.00 1.581% 209,121.81 2,855,146.81 1,825
5/26/2015 FA FNMA 1.7% DUE 5/26120 CALL 5/26117 ONE CALL 3,000,000.00 3,000,000.00 1.700% 255,000.00 3,255,000.00 1,827
5/27/2015 FA FNMA 1.8% DUE 5/27120 CALL 5/27/16 ONE CALL 1,750,000.00 1 ,750,000.00 1.800% 157,500.00 1,907,500.00 1,827
6/12/2015 FA FHLB 1.75% DUE 6/12/20 NON-CALL 3,000,000.00 3,000,000.00 1.750% 262,500.00 3,262,500.00 1,827
7/15/2015 FA FHLMC 1.0% DUE 4/15/20 CALL 1/15/16 ONE STEP 4,000,000.00 4,000,000.00 1.000% 402,500.00 4,402,500.00 1,827
10/27/2015 FA FNMA 1.470% DUE 10127/15 CALL 10127116 ONE TIME 5,000,000.00 5,000,000.00 1.470% 367,500.00 5,367,500.00 1,824
SUB-TOTAL 315,133,333.50 315,916,478.25 1.166% 15,589,128.07 331,505,606.32 1,448
1123/2015 FN FNMA 0% DUE 2/1/19 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% DUE 4/5/19 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% DUE 9/26/19 NON-CALL 2,100,000.00 1 ,958,591.39 1.560% 282,817.22 2,241,408.61 1,639
912312015 FN FICO 0% DUE 9/26119 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% DUE 10/09/19 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% DUE 10/15/20 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 330,596,333.50 330,312,489.49 17,001,477.78 347,313,967.27 2,227
11/3/2015 TR US TREASURY 1.0% DUE 10/31116 3,000,000.00 3,016,308.00 0.450% 13,444.75 3,029,752.75 363
1113/2015 TR US TREASURY .50% DUE 11/30/16 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% DUE 3/31/17 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% DUE 3/31/17 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% DUE 4/30/17 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% DUE 4/30/17 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% DUE 5/31/17 1,000,000.00 991,015.63 0.963% 25,838.88 1,016,854.51 985
I
INVESTMENT REPORT
AS OF NOVEMBER 30,2015
INVESTMENT
DATE TYPE SECURITY
11/22/2013 TR US TREASURY .50% DUE 7/31/17
5/22/2015 TR US TREASURY .50% DUE 7/31/17
7/21/2015 TR US TREASURY .625% DUE 8/31/17
7/21/2015 TR US TREASURY .625% DUE 9/30/17
3/5/2015 TR US TREASURY .75% DUE 10/31/17
10/27/2015 TR US TREASURY .75% DUE 10/31/17
7/21/2015 TR US TREASURY .75% DUE 03/31/18
10/7/2014 TR US TREASURY 1.375% DUE 7/31/18
7/16/2014 TR US TREASURY 1.50% DUE 8/31/18
7/24/2014 TR US TREASURY 1.50% DUE 8/31/18
10/7/2014 TR US TREASURY 1.50% DUE 8/31/18
8/5/2014 TR US TREASURY 1.25% DUE 10/31/18
10/3/2014 TR US TREASURY 1.50% DUE 12/31/18
6/5/2015 TR US TREASURY 1.50% DUE 1/31/19
10/6/2015 TR USTREASURY1.625%DUE3/31/19
7/21/2015 TR USTREASURY1.5%DUE5/31/19
8/1/2014 TR US TREASURY 1.625% DUE 7/31/19
10/6/2014 TR USTREASURY1.00% DUE8/31/19
9/22/2015 TR US TREASURY 2.125% DUE 8/31/20
PAR
VALUE
2,000,000 00
1,000,000 00
2,000,000.00
1,500,000.00
2,000,000.00
2,500,000.00
1 ,700,000.00
1,400,000.00
4,000,000.00
2,000,000.00
1,500,000.00
3,000,000.00
1,000,000.00
2,000,000.00
4,000,000.00
1,500,000.00
2,515,000.00
1,000,000.00
3,000,000.00
SUB-TOTAL 56,115,000.00
.....__
(;>J
12/15/2010 CN BARCLAYS BANK3.10% DUE 12/15115 NON-CALL
12/15/2010 CN ROYAL BANK OF CANADA 2.625% DUE 12/15/15 NON
411312012 CN PROCTER & GAMBLE 4.85% DUE 12115115 NON-CALL
10131/2011 CN MET LIFE GLOBAL FUNDING 3.125% DUE 1/11116 NON
12/28/2011 CN MET LIFE GLOBAL FUNDING 3.125% DUE 1111116 NON
112512012 CN MET LIFE GLOBAL FUNDING 3.125% DUE 1/11/16 NON
3/9/2012 CN MET LIFE GLOBAL FUNDING 3.125% DUE 1/11/16 NON
2/812012 CN GENERAL ELECTRIC 1.55% DUE 2/8/16 N-C FLOATER
516/2011 CN MASS MUTUAL GLOBAL DUE 4114116 3.125% NON-CAl
5/16/2011 CN GENERAL ELECTRIC 2.95% DUE 5/9116 NON-CALL
6/17/2011 CN GENERAL ELECTRIC 2.95% DUE 519116 NON-CALL
9/12/2011 CN GENERAL ELECTRIC 2.95% DUE 5/9116 NON-CALL
12/412012 CN JOHNSON & JOHNSON 2.15% DUE 5/15/16 NON-CALL
9/1312013 CN TOYOTA .80% DUE 5/17/16 NON-CALL
4/9/2015 CN NY LIFE GOLBAL 1.65% DUE 5115/17 NON-CALL
9/4/2012
9/1012013
10/2712011
10/11/2011
1/2312013
1012/2012
9/2212011
11/1012011
CN
CN
CN
CN
CN
CN
CN
CN
GOOGLE 2.125% DUE 5119116 NON-CALL
CHEVRON CORP .889% DUE 6/24116 NON CALL
PROCTER & GAMBLE 1.45% DUE 8115/16 NON-CALL
BERKSHIRE HATHAWAY 2.20% DUE 8/15116 NON-CALl
PROCTER & GAMBLE 1.45% DUE 8/15/16 MAKE WHOLI
COCA COLA CA 1.8% DUE 9/1/16 NON-CALL
TOYOTA 2.0% DUE 9/15/16 NON-CALL
NEW YORK LIFE 2.45% DUE 7/14/16 NON-CALL
2,000,000.00
2,000,000.00
1 ,000,000.00
1,635,000.00
2,000,000.00
5,000,000.00
3,000,000.00
5,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
1,400,000.00
2,000,000.00
3,000,000.00
1,675,000.00
1,000,000.00
2,000,000.00
5,000,000.00
5,000,000.00
1,000,000.00
3,000,000.00
5,000,000.00
3,550,000.00
INVESTED RETURN
AMOUNT RATE
1 ,974,619.96 0.850%
996,900.00 0.643%
1,994,352.00 0.760%
1,494,787.50 0.785%
1,989,531.25 0.950%
2,506,045.00 0.629%
1,691,765.61 0.932%
1,400,251.69 1.370%
4,009,600.00 1.496%
2,006,348.00 1.420%
1,505,664.36 1.400%
2,974,200.00 1.460%
1,000,000.00 1.500%
2,015,296.00 1.285%
4,083,992.00 1.010%
1 ,505,156.25 1.408%
2,500,019.15 1.750%
964,920.00 1.036%
3,085,500.00 2.097%
56,260,669.78
2,000,000.00
2,038,220.00
1,147,830.00
1,695,247.73
2,063,239.83
5,189,924.57
3,169,646.15
5,000,000.00
1 ,024,175.57
2,000,912.32
2,009,952.38
1,427,513.33
2,104,120.00
2,981,640.00
1,704,362.75
1,050,940.00
1,993,903.80
5,011,536.25
5,022,855.25
1,025,260.00
3, 133,106.35
5,023,645.00
3,669,194.08
1.092%
3.100%
2.220%
0.760%
2.200%
2.300%
2.120%
1.600%
1.390%
3.125%
2.940%
2.840%
2.500%
0.621%
1.032%
0.806%
2.125%
1.000%
1.400%
2.100%
0.730%
0.650%
1.900%
1.700%
INTEREST
62,282.21
14,066.85
32,040.66
25,781.15
50,289.19
31,658.80
42,582.75
73,191.24
237,900.00
116,749.83
82,035.92
184,665.49
63,627.72
94,344.88
142,442.43
81,708.50
219,213.54
84,085.52
229,396.98
2,129,463.10
310,000.00
225,009.16
30,272.78
154,062.17
189,017.11
428,999.04
190,249.68
227,500.00
130,164.71
292,940.46
278,819.84
164,875.84
44,110.56
82,626.67
28,676.00
6,197.92
55,682.64
336,463.75
510,033.64
26,376.11
78,243.65
474,410.56
287,655.64
INVESTMENT
RETURN
2,036,902.17
1,010,966.85
2,026,392.66
1 ,520,568.65
2,039,820.44
2,537,703.80
1,734,348.36
1,4 73,442.93
4,247,500.00
2,123,097.83
1,587,700.28
3,158,865.49
1,063,627.72
2,109,640.88
4,226,434.43
1,586,864.75
2,719,232.69
1,049,005.52
3,314,896.98
58,390,132.88
2,310,000.00
2,263,229.16
1,178,102.78
1,849,309.90
2,252,256.94
5,618,923.61
3,359,895.83
5,227,500.00
1 '154,340.28
2,293,852.78
2,288,772.22
1,592,389.17
2,148,230.56
3,064,266.67
1,733,038.75
1,057,137.92
2,049,586.44
5,348,000.00
5,532,888.89
1,051,636.11
3,211,350.00
5,498,055.56
3,956,849.72
TERM
(Days)
1,347
801
772
802
971
735
984
1,393
1,507
1,499
1,424
1,548
1,550
1,336
1,272
1,410
1,825
1,790
1,805
1,150
1,826
1,826
1,341
1,533
1,475
1,447
1,403
1,461
1,805
1,820
1,788
1,701
1,258
977
767
1,353
1,018
1,754
1,770
1,300
1,430
1,820
1,708
INVESTMENT
DATE
9/18/2014
1/31/2012
1/31/2012
3/5/2012
8/6/2012
2/16/2012
4/18/2012
6/5/2012
6/12/2014
3/8/2013
5/27/2015
3/26/2013
10/29/2015
9/18/2014
1/27/2015
5/1112015
5/15/2013
12/19/2014
2/19/2015
12/24/2013
10/28/2015
4/9/2015
4/6/2015
6/30/2015
10/8/2015
5/27/2015
7/16/2015
11/18/2014
4/9/2015
9/25/2015
11/4/2015
11/3/2015
11/3/2015
9/25/2015
9/24/2015
11/10/2015
INVESTMENT REPORT
AS OF NOVEMBER 30, 2015
TYPE SECURITY
CN COLGATE-PALMOLIVE 1.30% DUE 1/15/17 MAKE WHO
CN BERSHIRE HATHAWAY 1.90% DUE 1/31/17 NON-CALL
CN HSBC BANK USE 2.5% DUE 1/31/17 FLOATING RATE
CN BERSHIRE HATHAWAY 1.90% DUE 1/31/17 NON-CALL
CN IBM CORP 1.250% DUE 2/6/17 NON-CALL
CN WESTPAC BANKING CORP 2.3% DUE 2/15/17 NON-CAl
CN WAL-MART STORES 5.375% DUE 4/5/17 NON-CALL
CN HSBC BANK USA 1.925% DUE 6/5/17 FLOATER
CN CHEVRON CORP 1.104% DUE 12/05/17 NON CALL
CN WAL-MART 5.8% DUE 2/15/18 NON CALL
CN WAL-MART 5.8% DUE 2/15/18 NON CALL
CN COCA COLA CA 1.150% DUE 4/1/18 MAKE-WHOLE CAl
CN WAL-MART STORES 1.125% DUE 4/11/18 MAKE WHOL
CN COLGATE-PALMOLIVE .90% DUE 5/1/18 MAKE WHOLE
CN COLGATE-PALMOLIVE .90% DUE 5/1/18 MAKE WHOLE
CN APPLE 1.0% DUE 5/3/18 MAKE WHOLE CALL
CN BERKSHIRE HATAWAY 1.30% DUE 5/15/18 MAKE WHO
CN MASS MUTUAL GLOBAL 2.10% DUE 8/2/18 NON-CALL
CN ROYAL BANK OF CANADA 2.00% DUE 10/1/18 NON-C1
CN COCA COLA CA 1.650% DUE 11/10/18 MAKE-WHOLE C
CN JOHNSON & JOHNSON 1.65% DUE 12/5/18 MAKE WHC
CN MICROSOFT 1.625% DUE 12/06/18 NON-CALL
CN PEFCO 4.375% DUE 3/15/19 NON-CALL
CN MASS MUTUAL GLOBAL 2.35% DUE 4/9/19 NON-CALL
CN APPLE 2.10% DUE 5/6/19 MAKE WHOLE CALL
CN IBM CORP 1.8750% DUE 5/27/15NON-CALL
CN TOYOTA DUE 7/18/19 2.125% NON-CALL
CN CHEVRON CORP 2.193% DUE 11/15/19 MAKE-WHOLE •
CN NY LIFE GOLBAL 1.95% DUE 2/11120 NON-CALL
CN CVX 1.961% DUE 3/3/20 MAKE WHOLE CALL
CN EXXON MOBIL 1.912% DUE 3/6/20 MAKE WHOLE CALL
CN APPLE 2.0% DUE 5/6/20 MAKE WHOLE CALL
CN MMM 2.0% DUE 817/20 MAKE WHOLE CALL
CN JOHNSON & JOHNSON 2.95% DUE 9/1/20 MAKE WHOL
CN AUTOMATIC DATA PROCESSING 2.25% DUE 9/15/20 M
CN MICROSOFT 2.00% DUE 11/3/20 MAKE WHOLE CALL
PAR
VALUE
500,000.00
5,000,000.00
5,000,000.00
2,850,000.00
5,000,000.00
5,000,000.00
3,000,000.00
5,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
1 ,000,000.00
4,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
5,000,000.00
3,500,000.00
2,250,000.00
3,500,000.00
4,000,000.00
2,000,000.00
2,274,000.00
3,250,000.00
2,500,000.00
2,150,000.00
2,000,000.00
3,000,000.00
2,000,000.00
2,800,000.00
5,000,000.00
4,000,000.00
3,500,000.00
1,000,000.00
4,000,000.00
5,000,000.00
SUB-TOTAL 171,334,000.00
12/2/2011 CD MIDLAND STATES BANK 1.25% DUE 12/02/15
2/10/2012 CD CARDINAL BANK MCLEAN VA .90% DUE 2/10/16
2/6/2013 CD ORIENTAL BANK & TRUST .90% DUE 2/8/16 CALL 8/6/1
8/24/2012 CD FIRST BUSINESS BANK .60% DUE 2/24/16
10/22/2012 CD NATIONAL BANK OF COMMERCE .50% DUE 4/18/16
5/4/2012 CD HERITAGE BANK OF COMMERCE .80% DUE 5/2/16
"'----
249,000.00
249,000.00
249,000.00
248,000.00
249,000.00
249,000.00
INVESTED
AMOUNT
504,585.00
5,047, 739.83
5,000,000.00
2,914,809.00
5,077,000.00
5,000,000.00
3,568,354.19
5,000,000.00
1 ,996,180.00
3,669,120.00
2,249,440.00
1,000,000.00
4,024,400.00
980,600.00
1,983,000.00
1,989,840.00
5,019,345.05
3,555,685.00
2,289,442.50
3,491 ,856.17
4,070,600.00
2,037,820.00
2,527,892.10
3,286,335.00
2,558,025.00
2,169,715.50
2,009,760.00
3,017,400.00
2,017,520.00
2,790,704.00
5,057,700.00
4,028,000.00
3,554,215.00
1 ,058,028.49
4,029,600.00
5,018,550.00
175,080,487.19
249,000.00
249,000.00
249,000.00
247,578.40
248,551.80
248,004.00
RETURN
RATE
0.009%
1.700%
1.748%
1.418%
0.900%
2.300%
1.400%
1.037%
1.160%
1.140%
1.125%
1.150%
0.873%
1.452%
1.166%
1.174%
1.220%
1.645%
1.500%
1.700%
1.070%
1.096%
1.450%
2.040%
1.432%
1.635%
1.998%
2.070%
1.760%
2.039%
1.630%
1.837%
1.660%
1.718%
2.090%
1.920%
INTEREST
10,527.50
427,260.17
425,000.00
200,676.42
204,250.00
574,680.56
229,833.31
342,500.00
80,670.67
189,763.33
65,693.33
57,627.78
85,850.00
51,975.00
75,700.00
69,715.56
305,654.95
210,344.17
123,307.50
288,391.75
134,183.33
81,075.83
138,254.46
251,980.62
129,808.33
140,190.75
160,476.11
311,001.75
171,196.67
253,026.51
357,097.78
332,666.66
279,062.78
87,504.84
418,150.00
479,505.56
INVESTMENT
RETURN
515,112.50
5,475,000.00
5,425,000.00
3,115,485.42
5,281,250.00
5,574,680.56
3,798,187.50
5,342,500.00
2,076,850.67
3,858,883.33
2,315,133.33
1,057,627.78
4,110,250.00
1,032,575.00
2,058,700.00
2,059,555.56
5,325,000.00
3,766,029.17
2,412,750.00
3,780,247.92
4,204,783.33
2,118,895.83
2,666,146.56
3,538,315.62
2,687,833.33
2,309,906.25
2,170,236.11
3,328,401.75
2,188,716.67
3,043,730.51
5,414,797.78
4,360,666.66
3,833,277.78
1 '145,533.33
4,447,750.00
5,498,055.56
1.608% 12,296,991.91 187,377,479.10
1.250%
0.900%
0.900%
0.600%
0.550%
0.900%
12,450.00
8,970.06
6,735.45
5,635.72
4,791.87
8,953.05
261,450.00
257,970.06
255,735.45
253,214.12
253,343.67
256,957 05
TERM
(Days)
850
1,827
1,827
1,793
1,645
1,826
1,813
1,826
1,272
1,805
995
1,832
895
1,321
1,190
1,088
1,826
1,322
1,320
1,782
1,134
1,337
1,439
1,379
1,306
1,449
1,463
1,823
1,769
1,621
1,584
1,646
1,739
1,803
1,818
1,820
1,521
1,461
1,461
1,097
1,279
1,274
1,459
INVESTMENT
DATE
5/18/2012
5/22/2012
5/31/2012
8/15/2012
2/28/2012
12/24/2012
12/24/2012
12/11/2012
12/17/2012
12/11/2014
12/14/2014
12/14/2012
1/16/2013
1/16/2013
1/18/2013
1/23/2013
3/4/2013
1/30/2013
3/28/2013
4/5/2013
4/18/2013
4/30/2013
5/29/2015
6/4/2015
7/15/2015
7/24/2014
8/28/2014
8/29/2014
9/24/2014
9/24/2014
10/8/2014
10/10/2014
10/29/2014
11/3/2014
12/3/2014
12/4/2014
12/10/2014
12/23/2014
1/23/2015
7/24/2015
1/27/2015
1/30/2015
2/6/2015
3/3/2015
2/27/2015
3/25/2015
INVESTMENT REPORT
AS OF NOVEMBER 30, 2015
TYPE SECURITY
CD NORTH JERSEY COMMUNITY .85% DUE 5/18/16
CD STATE BANK & TRUST CO MACON .80% DUE 5/23/16
CD CRESCENT BANK & TRUST .90 DUE 5/31/16
CD EVERBANK .90% DUE 8/15/16
CD MERCANTILE BANK OF MICHIGAN 1.15% DUE 2/28/17
CD DELTA NATL BANK & TRUST .90% DUE 11/20/17
CD PACIFIC CONTL BANK .90% DUE 11/21/17
CD BANCO POPULAR DE PR HATO 1.1% DUE 12/5/17
CD FIRST AMERICAN BANK 1.0% DUE 12/7/17
CD ALLY BANK 1.55% DUE 12/11117
CD FIRST BANK OF PUERTO RICO 1.25% DUE 12/14/17
CD BANKERS BANK KANSAS 1.0% DUE 12/14/17
CD BANK OF HOLLAND 1.00% DUE 1/16/18 CALL 7/16/13
CD BANK OF N. MICHIGAN 1.00% DUE 1/16/18 CALL7/16/1~
CD STEARNS BANK .90% DUE 1/18/18 CALL 1/18/14
CD FIRST FARMERS BANK & TRUST 1.0% CALL 1/23/14
CD GATEWAY BANK OF SW FLORIDA .95%DUE 1/29/18 Cf.
CD FARMERS & MERCHANTS BANK .90% DUE 1/30/18
CD WASHINGTON FEDERAL SAVINGS 1.0% DUE 3/28/18 C
CD BOSTON PRIVATE BANK & TRUST . 95% DUE 4/4/18 CA
CD FIRST STATE BANK NE .95% DUE 4/18/18 CALL
CD FOREST COMMERCIAL BANK .90% DUE 4/30/18 CALL
CD COMPASS BANK BIRMINGHAM DUE 5/29/18 NON-CALL
CD MEDALLION BANK SALT LAKE 1.25% DUE 6/4/18 NON-<
CD CAPTIAL ONE 1.95% DUE 7/15/19 NON-CALL
CD AMERICAN EXPRESS BANK 2.00% DUE 7/24/19
CD ENERBANK USA 2.05% DUE 8/28/19
CD SYNCHRONY BANK 2.1% DUE 8/29/19
CD DISCOVER 2.15% DUE 9/24/19
CD GOLDMAN SACHS BANK2.15% DUE 9/24/19
CD CAPITAL ONE ABANK USA 2.10% DUE 10/08/19
CD GE CAPITAL BANK 2.0% DUE 10/10/19
CD PEOPLES UTD BANK CT 1.9% DUE 10/29/19
CD WEBSTER BANK NAT'L ASSOC 1.9% DUE 11/4/19
CD CIT BANK SALT LAKE CITY 2.2% DUE 12/3/19
CD AMERICAN EXPRESS CENTURION 2.2% DUE 12/4/19
CD BMW BANK OF N AMERICA 2.15% DUE 12/10/19
CD SALLIE MAE BANK SALT LAKE 2.2% DUE 12/10/19
CD PRIVATE BANK & TRUST 1.90% DUE 1/23/20
CD EAGLE BANK 1.80% DUE 1/24/20
CD NORTHFIELD BANK 1.65% DUE 1/27/20
CD BANK OF GEORGETOWN 1.65% DUE 1/30/20
CD MACHIAS SAVINGS BANK 1.65% DUE 2/6/20
CD THIRD FEDERAL SAVING & LOAN 1.75% DUE 2/26/20
CD JP MORGAN CHASE BANK 2.0% DUE 2/27/20
CD WELLS FARGO BANK SIOUX FALLS 1.5% DUE 3/25/20
PAR
VALUE
248,000.00
249,000.00
249,000.00
248,000.00
248,000.00
249,000.00
249,000.00
248,000.00
249,000.00
247,000.00
249,000.00
249,000.00
249,000.00
249,000.00
249,000.00
249,000.00
209,000.00
249,000.00
249,000.00
248,000.00
249,000.00
249,000.00
248,000.00
249,000.00
249,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
249,000.00
249,000.00
249,000.00
247,000.00
247,000.00
247,000.00
247,000.00
INVESTED
AMOUNT
247,008.00
248,004.00
248,502.00
247,008.00
247,380.00
248,377.50
248,452.20
248,000.00
248,253.00
247,000.00
249,000.00
248,502.00
248,751.00
248,751.00
248,253.00
248,626.50
208,373.00
248,253.00
248,253.00
247,008.00
248,502.00
248,253.00
248,000.00
249,000.00
249,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
245,641.50
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
247,000.00
249,000.00
249,000.00
249,000.00
247,000.00
246,407.20
247,000.00
247,000.00
RETURN
RATE
0.950%
0.900%
0.950%
0.900%
1.150%
0.952%
0.946%
1.100%
1.000%
1.550%
1.250%
1.000%
1.000%
1.000%
1.000%
1.000%
1.070%
0.900%
1.000%
1.032%
0.991%
0.960%
1.300%
1.250%
1.950%
2.000%
2.050%
2.100%
2.150%
2.150%
2.100%
2.000%
1.900%
1.900%
2.200%
2.200%
2.150%
2.200%
1.900%
1.800%
1.650%
1.650%
1.650%
1.754%
2.000%
1.500%
INTEREST
9,429.77
8,974.88
9,468.06
9,926.11
14,895.62
11,624.88
11,556.33
13,595.16
13,128.78
11,485.50
15,562.50
12,948.00
12,699.00
12,699.00
11,952.00
12,823.50
10,367.28
11,952.00
13,197.00
12,765.55
12,325.50
11,952.00
9,672.00
9,337.50
19,422.00
24,700.00
25,317.50
25,935.00
26,552.50
26,552.50
25,935.00
26,058.50
23,465.00
23,465.00
27,170.00
27,170.00
26,552.50
26,976.46
23,465.00
20,169.00
20,542.50
20,542.50
20,377.50
22,146.09
24,700.00
18,525.00
INVESTMENT
RETURN
256,437.77
256,978.88
257,970.06
256,934.11
262,275.62
260,002.38
260,008.53
261,595.16
261,381.78
258,485.50
264,562.50
261,450.00
261,450.00
261,450.00
260,205.00
261,450.00
218,740.28
260,205.00
261,450.00
259,773.55
260,827.50
260,205.00
257,672.00
258,337.50
268,422.00
271,700.00
272,317.50
272,935.00
273,552.50
273,552.50
272,935.00
271,700.00
270,465.00
270,465.00
274,170.00
274,170.00
273,552.50
273,976.46
270,465.00
269,169.00
269,542.50
269,542.50
267,377.50
268,553.29
271,700.00
265,525.00
TERM
(Days)
1 ,461
1,462
1,461
1,461
1,827
1,792
1,793
1,820
1,816
1,096
1,096
1,826
1,826
1,826
1,826
1,826
1,792
1,826
1,826
1,825
1,826
1,826
1,096
1,096
1,461
1,826
1,826
1,826
1,826
1,826
1,826
1,826
1,826
1,827
1,826
1,826
1,826
1,813
1,826
1,645
1,826
1,826
1,826
1,821
1,826
1,827
INVESTMENT REPORT
AS OF NOVEMBER 30, 2015
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
4/22/2015 CD MARLIN BUSINESS BANK SALT LAKE 1.6% DUE 4/22/2( 247,000.00 247,000.00 1.600% 19,760.00 266,760.00 1,827
5/1312015 CD WORLD FOREMOST BANK SYDNEY 2.00% DUE 5111/2( 200,000.00 200,000.00 2.000% 20,000.00 220,000.00 1,827
6/2912015 CD FIRST SOURCE BANK 1.85% DUE 6129/20 247,000.00 246,382.50 1.904% 23,465.00 269,847.50 1,827
7131/2015 CD INSTITUTION FOR SAVINGS 2.05% DUE 7/31120 249,000.00 249,000.00 2.050% 25,522.50 274,522.50 1,827
8121/2015 CD WESTERN STATE BANK 1.95% DUE 8/14/20 CALL MON 249,000.00 248,377.50 2.000% 25,145.00 273,522.50 1,820
8/6/2015 CD ORRSTOWN BANK 2.0% DUE 8120/20 249,000.00 249,000.00 2.000% 24,706.33 273,706.33 1,841
811112015 CD INVESTOR BANK 2.0% DUE 8125120 247,000.00 247,000.00 2.000% 24,700.00 271,700.00 1,841
9/10/2015 CD MERRICK BANK 1.85% DUE 9/10120 249,000.00 248,377.50 1.910% 23,655.00 272,032.50 1,827
9/22/2015 CD BARCLAYS BANK 2.2% DUE 9116/20 248,000.00 248,000.00 2.200% 27,190.31 275,190.31 1,821
10119/2015 CD COMENITY CAP BANK 2.0% DUE 10/15/20 249,000.00 249,000.00 2.000% 24,818.14 273,818.14 1,821
SUB-TOTAL 15,297,000.00 15,278,830.60 1.497% 1 ,096,575.90 16,375,406.50 1,698
0 WELLS FARGO BANK 390,506.00 390,506.00 0.020% 0.21 390,506.21
0 CORPORATE CASH MANAGEMENT ACCOUNT 1,864,287.16 1 ,864,287.16 0.020% 1 02 1,864,288.18
0 LIBRARY ACCOUNT 368.86 368.86 0.000% 368.86
0 UNION TRUST 84,247.06 84,247.06 0.000% 0.00 84,247.06
0 LA IF WATER DISTRICT 29,724,000.00 29,724,000.00 0.370% 305.50 29,724,305.50
0 LA IF PUBLIC IMPROVEMENT CORPORATION 20,336,927.62 20,336,927.62 0.370% 209.02 20,337,136.64
0 LA IF PUBLIC FINANCING CORPORATION 28,693,281.86 28,693,281.86 0.370% 294.90 28,693,576.76
0 L A I F CITY OF CARLSBAD 27,128,000.00 27,128,000.00 0.370% 278.82 27' 128,278.82
SUB-TOTAL 108,221,618.56 108,221,618.56 0.362% 1,089.47 108,222,708.03
GRAND TOTAL 681 ,563,952.06 685,154,095.62 1.163% 32,525,598.16 717,679,693.78
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF NOVEMBER 30, 2015
Cash Balance by Fund:
General
Special Revenue
Debt Service
Capital Projects:
General Capital Construction
Traffic Impact Fees
Public Facilities Fees
Park Development
Transnet Taxes
Drainage Fees
Special Districts
Infrastructure Replacement
Other Capital Construction
Enterprise:
Carlsbad Municipal Water District
Sewer Fund
Solid Waste
Storm Water
Golf Course
Internal Service
Agency Funds
Trust Funds
Total General Ledger Balance **
Reconciling Adjustments (1)
Total
Total
Total Treasurer's Investment Portfolio at Amortized Cost
48,748,831
21,650,355
27,537,826
8,207,468
5,290,024
6,389,758
88,540,781
94,110,962
3,001,016
117,951,833
52,430,875
7,274,740
5,170,093
2,018,046
( 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 11/08/15
96,011,663
43,581,539
0
303,477,021
184,845,587
40,920,304
14,991,976
230,817
684,058,906
(1 ,375,503)
682,683,403
EXHIBIT 8
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of NOVEMBER 30, 2015
CORPORATE NOTE AND COMMERCIAL PAPER RATINGS
Corporate Note Investments Meeting the Current Investment Policy:
(Ratings must be AA or better by two of the three: Moody's S&P or Fitch)
Moody's S&P Fitch
ADP AA3 AA NR
APPLE AA1 AA+ AA+
BERKSHIRE HATAWAY AA2 AA A+
CHEVRON AA1 AA NR
COCA COLA AA3 AA A+
COLGATE-PALMOLIVE AA3 AA-AA-
cvx AA1 AA NR
EXXON MOBIL AAA AAA NR
GOOGLE INC AA2 AA NR
IBM CORP AA3 AA-A+
JOHNSON & JOHNSON AAA AAA AAA
MASS MUTUAL GLOBAL AA2 AA+ AA+
MET LIFE GLOBAL AA3 AA-AA-
MICROSOFT AAA AAA AA+
3M COMPANY AA3 AA-NR
NEW YORK LIFE AAA AA+ AAA
PRIVAT EXPORT FUNDING (PEFCO) AAA A+ AAA
PROCTER & GAMBLE AA3 AA-NR
ROYAL BANK OF CANADA AA3 AA-AA
TOYOTA AA3 AA-A
WAL-MART AA2 AA AA
WESTPAC BANKING CORP AA2 AA- AA-
Commercial Paper Investments Meeting the Current Investment Policy:
(Ratings must be A1/P1 or better by two of the three: Moody's, S&P or Fitch)
(Ratings of other debt must be AA or better by two of the three: Moody's, S&P or Fitch)
NONE
Investments with Subsequent Changes in Credit Rating *
Latest Carrying
Moody's S&P Fitch Maturity Date Value
BARCLAYS BANK A2 NR A 12/15/2015 2,000,000
GENERAL ELECTRIC A1 AA+ NR 05/09/2016 10,403,565
HSBC BANK USA A1 AA-NR 06/05/2017 10,000,000
* The City's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions
to the policy. All of these investments are paying interest at the required times. The principal of all investments are
considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events
indicate they should be sold.
Market
Value
2,000,300
10,459,642
9,815,000
I
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF NOVEMBER 30, 2015
WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS
PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER
Investment Cost
ADP 4,029,600.00
APPLE INC 8,575,865.00
BARCLAYS BANK 2,000,000.00
BERKSHIRE HATHAWAY 18,004,749.14
CHEVRON 7,007,483.80
COCA COLA CO 7,624,962.52
COLGATE-PALMOLIVE 3,468,185.00
cvx 2,790,704.00
EXXON MOBIL 5,057,700.00
GENERAL ELECTRIC CAP 10,438,378.05
GOOGLE 1 ,050,940.00
HSBC BANK USA 10,000,000.00
IBM CORP 7,246,715.50
JOHNSON & JOHNSON 7,232,748.49
MASS MUTUAL 7,866,195.57
MET LIFE GLOBAL FUND 12,118,058.28
MICROSOFT 7,056,370.00
3M COMPANY 3,554,215.00
NEW YORK LIFE 7,391,076.83
PEFCO 2,527,892.10
PROTER & GAMBLE 7,184,626.25
ROYAL BANK OF CANADA 4,327,662.50
TOYOTA 10,015,045.00
WAL-MART 13,511,314.19
WESTPAC BANKING CORP 5,000,000.00
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
FAMCA
FICO
FEDERAL FARM CREDIT BANK
FEDERALHOMELOANBANK
FEDERAL HOME LOAN MORTGAGE CORP
FEDERAL NATIONAL MORTGAGE ASSOC
RFCO STRIP PRINCIPAL
TENNESSEE VALLEY AUTHORITY
U.S.TREASURY
Total Portfolio
* No more than 5% may be invested with a single corporate issuer.
**There are no percentage limits on federal agency issuers.
Investment Cost
11 ,064,870.00
8,733,759.39
64,962,300.93
85,374,833.53
58,004,410.00
98,870,330.65
2,750,760.00
551,225.00
56,260,669.78
Percent of Portfolio*
0.59%
1.25%
0.29%
2.63%
1.02%
1.11%
0.51%
0.41%
0.74%
1.52%
0.15%
1.46%
1.06%
1.06%
1.15%
1.77%
1.03%
0.52%
1.08%
0.37%
1.05%
0.63%
1.46%
1.97%
0.73%
Percent of Portfolio**
1.61%
1.27%
9.48%
12.46%
8.47%
14.43%
0.40%
0.08%
8.21%
$685,154,095.62
EXHIBIT 10
}