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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 5 I 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 COUNCIL ACTION: APPROVED DENIED CONTINUED WITHDRAWN AMENDED 0 0 0 0 0 CONTINUED TO DATE SPECIFIC CONTINUED TO DATE UNKNOWN RETURNED TO STAFF o ____ _ OTHER-SEE MINUTES REPORT RECEIVED 0 0 0 ~ Report on City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 H Jj H (lj 8 ~ 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 $240,385,000.00) (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes. %TOTAL 2.2% 2.1% 8.2% 46.1% 25.6~'0 (2) 15.5% 0.0% 0.3% 0.1% 100.0% i:'j :><: :::r:: H ttJ H t-3 N ~ 6.75 6.50 6.25 6.00 5.75 5.50 5.25 5.00 4.75 4.50 4.25 4.00 3.75 3.50 3.25 3.00 2.75 2.50 2.25 2.00 1.75 1.50 1.25 1.00 0.75 0.50 u~ ~~ YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 2000-NOVEMBER 2015 ~· .. _, ~ l "" '!,-., ' ' """"'"' ' ~ ~. \, 'JH' ' ~. \. .J ~ 1 \, .,. _,_~ 'I ~-~.A ~ ) . ..,.., " ~ 1' ' ~ ,;. '1 f \ ~. ~ " ~ -~ -~ \w. ' ~-f ., ~ '\t: J 1 v~ ~. J k '""-~I:.X..-1 DIU-'If' ~ ' ~ ~ ~ ' ~1 An: ~ ~ I -· ~ ~ 1w, ~ """"' ""'-....._ 0.25 I --~-~~~-trJ 0.00 111111111111 IIIII I Ill I illllllllllllllllllllllllllllllllll I llillllllillllllllllilllllllllllllllllllllllllllli I I 111111111111 I I 111111111111 I I illllllilltl I iliillllll I I 111111111111111 I IIIII ~ ~ . ~ )~~~~~~~~~~~~~~~~~~~~~~~~~~~~(} § t-3 w MARKET YIELD CURVE 6/30/14, 6/30/15, 11/30/15 Market Rates 3.5 ~==~_:_:_:__:__::: ________________ _ 3 ~ 2.5 _(____[ ______________ ~~ 2 ~ 1.5 p§;~ 1 ~· .. ,mrJI!!.· ~~~~----------- 0 5 •p ~ ~ • ~ ............... ffii ...... · .............. .. .:.. ,...,, g•• 1" ~ 0 3 Mth 2 Yr 5 Yr ·10 Yr 3Mth 2Yr 5Yr 10Yr ~ ....... -6-/3_0_/2-0-14-[ .02 .46 1.63 2.53 _,._ 6/30/2015 .01 .65 1.65 2.35 ' ~ 11/30/2015 .17 .93 1.65 2.21 l:tj :X: ::r:: H IJ:J H t-3 """ Cumulative Millions$ Cumulative Cash Income FY15-16 (November 2015) .,.,..., .,.,4r ..#"' / -~ ~· .....,. ., Monthly Interest Income Millions$ 1--· .,.,~ 1- 1- - 10 9 8 7 6 5 4 3 2 1 0 0.619 ~ 1- 8 7 6 5 4 3 2 1 0 0.8 0.7 0.73 0.7 - l n fl r 1 n I I I I I I I I I I I Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun c=J Interest Income _..,__Budget ___,__Actual YTD tr:l :X: ::r:: H td H 1-3 U1 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 - 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 1-:3 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 - 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 }