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HomeMy WebLinkAbout2017-05-09; City Council; ; Report on City Investments as of March 31, 2017CA Review CAN%CITY COUNCIL - 644:4c Staff Report Meeting Date May 9, 2017 To:Mayor and Council Members From:Kevin Crawford, City ManageM-C-"' Staff Contact:Craig Lindholm, City Treasurer; Nancy Sullivan, Deputy City Treasurer Nancy.Sullivan@carlsbadca.gov or 760-602-2473 Subject Report on City Investments as of March 31, 2017 Recommended Action Accept and file report. Executive Summary/Discussion 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 March 31, 2017 is summarized below. Pooled Investment Portfolio (Cash and Securities) Current Month Prior Month Par Value 695,968,873 698,890,562 Cost of Investments 699,587,052 702,615,809 Amortized Cost (1)697,580,337 700,676,612 Market Value (2)695,011,682 698,378,689 (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 03/31/17. The equity portion of the various funds in the total portfolio is summarized in the graph one the next page.Fund balances are restricted for various purposes.See Exhibit 8 for a more detailed breakdown. The $3 million dollar decrease between the February and March 2017 report was mainly due to San Diego County's decision to make 12 distributions of property tax revenues (versus 13 in previous years).The county did not make a distribution in March 2017. Item #1 May 9, 2017 Page 1 of 23 Report on City Investments March 31, 2017 Meeting Date: May 9,2017 Page 2 FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) Special RevenueGeneralMD527 Internal Sen ice MS Capital Projects Agency/Trust up S318 Enterprise sisi Total Treasurer's Investment Portfolio at Moonized Cost March 31. 2017 5698 million Pooled Investment Interest Income Current Prior Current Month Cash Income Fiscal Year-to-Date *6,857,216 6,137,058 720,158 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement Average Life Average Yield (Years)To Maturity Modified Duration January 2017 1.94 1.242%1.871 February 2017 2.00 1.270%1.928 March 2017 2.02 1.299%1.946 All pooled investments have been made in accordance with the city's Investment Policy adopted January 2,1985 and last revised January 12,2016.All investments were initially made in accordance with the city's Investment Policy.Events subsequent to the purchase might have resulted in some investments not being in compliance with the current policy.These events are typically a change in the city's Investment Policy,a change in the credit rating subsequent to a purchase, or a temporary reduction in total portfolio assets.Exhibit 9 shows that the investments not in compliance with the current policy had a subsequent change in credit rating.Ratings on these two investments changed from double A (AA) to a single A (A) rating. The pooled investment portfolio has the ability to meet the city's cash flow demands for the next six (6) months. Item #1 May 9, 2017 Page 2 of 23 Report on City Investments March 31, 2017 Meeting Date: May 9,2017 Page 3 Investment Portfolio for Bond Proceeds Current Quarter Prior Quarter Par Value 20,754,321 21,078,776 Cost 20,754,321 21,078,776 Fiscal Analysis None Next Steps The Report on City Investments is produced monthly by the City Treasurer. Environmental Evaluation (CE0A1 Pursuant to Public Resources Code section 21065, this action does not constitute a "project" within the meaning of CEQA in that it has no potential to cause either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, and therefore does not require environmental review. Public Notification This item was noticed in accordance with the Ralph M. Brown Act and was available for public viewing and review at least 72 hours prior to the scheduled meeting date. Exhibits 1.Investment Portfolio Breakdown By Amortized Cost, Market Value,Cash Income, and Average Yield 2.Investment Portfolio Breakdown Of Maturities 3.Yield Comparison Graph 4.Market Yield Curve 5.Cumulative Cash Income Graph 6.Third Quarter Transactions 7.Detailed Investment Report 8.Fund Equity in Pooled Investments 9.Corporate Note and Commercial Paper Ratings 10.Percentage Weightings By Corporate Note Issuer Exhibit for Investments of Bond Proceeds Held Separately 11.Detailed Investment Report—Quarterly Report Exhibit for Summary of outstanding Housing Loans 12.Detail Of Outstanding Housing Loans —Quarterly Report Item #1 May 9, 2017 Page 3 of 23 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF MARCH 31, 2017 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 15,287,875 15.287,697 15,335,167 15,381,700 179.769 1.60 1.60 FN 17,926,295 17 901,744 17,882,245 17,851,796 0 1.61 1.61 TR 123,187,305 120,882,545 123,009,016 120,777,423 764.818 1.38 1.35 FA 299,648,756 299,955,604 297,928,359 298,351,537 2,904,319 1.31 1.28 CN 142,828,233 140,895,461 142,155,022 140,262,669 2.507,328 1.52 1.51 LAIF 92,154,000 102,240,000 92,154,000 102,240,000 499,791 0.78 0.76 CUSTODY 3,148,239 12,159 3,148,239 12,159 778 0.00 0.00 SWEEP 3,069.073 2,611,064 3,069,073 2,611,064 413 0.12 0.02 BANK ACCT 330,560 890,338 330.560 890,338 0 0.12 0.02 TOTALS 697,580,337 $700,676,612 $695.011.682 $698,378,689 6,857,216 1.30%1.27% 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 ttXZH (71H 1-2 1-1+ Item #1 May 9, 2017 Page 4 of 23 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF MARCH 31, 2017 BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME CLASS WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR I TO 5 YEARS TOTAL % TOTAL CD 0 3,683,966 11,596,572 15,280,537 2.2% ) FN 0 0 17,462,027 17,462,027 2.5% TR 17,803,898 12207,956 93,270.301 123,282.155 17.6% FA 31,609,410 39,897,441 228,616,471 300,123,322 42.9% CN 11,549,315 7.914,740 125,273,084 144,737,138 20.7%(2) LAIF 92,154,000 0 0 92,154,000 13.2% CUSTODY 3,148,239 0 0 3.148,239 0.5% SWEEP 3,069,073 0 0 3,069,073 0.4% BANK ACCT 330,560 0 0 330,560 0.1% TOTALS $159,664,494 (1)$63,704,103 (1)$476,218,455 $699,587,052 100.0% % TOTALS 22.8%9.1%68.1%100.0% Total within One Year $223,368,597 (1) 31.9% POLICY:(1) Not less than $168,954,000 to mature within one year.(2 f3rds of current year operating budget of $253,430,000.00) (2)Policy states that not more than 30%of portfolio is to be invested in corporate notes.tliXZH l:dH 1-3 M Item #1 May 9, 2017 Page 5 of 23 YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 2010 -MARCH 2017 2.70 2.602.50 2.40 — 2.30 2.20 -.-EX•LAIF 2.0 2.00 --LAIF 1.90 — 1.80 1.701.60 1.50 1.40 1.30 _ 1.20 1.10 1.00 0.90 0.80 0.70 0.600.50 0.40 0.300.20 0.10 \A (14.NN cv,i.6k.otk. Item #1 May 9, 2017 Page 6 of 23 MARKET YIELD CURVE 6/30/15, 6/30/16, 3/31/17 Market Rates3.5 3 2.5 2 000# 1.5 00.A40000ow°odot At.g.woo'osso ow'41.1.1. 0011 0 I 5 pliFjr - 0 3 Mth 2 Yr 5 Yr 10 Yr 3 Mth 2 Yr 5 Yr 10 Yr —1-613012015 .01 .65 1.65 2.35 ene.613012016 .26 .58 1.00 1.47 Is*313 1 120 1 7 .75 1.25 1.92 2.39 1-1 Item #1 May 9, 2017 Page7d23 Cumulative Cash Income Fy 6_1 7 Cumulative Monthly Interest Income Millions $(March 2017)Millions $ 10 8 9 7 8 -67 6 5 4 4 -3 3 0.95 -220.66 0.91 0.79 0' 720.76 0.83 0.68 0.58 -to — 0 . Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Interest Income -4—Budget —1—Actual YTD Item #1 May 9, 2017 Page 8 of 23 TRANSACTIONS FOR PERIOD: 01101/17 TO 03131/17 3rd QUARTER 2016.2017 Trans Investment Maturity Call Par Amount Return Investment Date Date Date TIE Securi Date Value Coupon Cost Rate Interest Return BUYS JANUARY 01/03/17 01/04/17 02/28120 FA FHLMC 2128/2017 2,000,000.00 1.250%1,978,000.00 1.610%100,750.00 2,078,750.00 01/05/17 01/06/17 04/13120 FA FFCB 4113/2017 1,000,000.00 1.400%992,000.00 1.652%53,772.22 1,045,772.22 01105/17 01/06/17 12131.21 TR US TREASURY NIA 4,000,000.00 2.125%4,052,128.00 1.850%371,463.16 4,423,591.16 01109/17 01/10/17 08/31119 TR US TREASURY NIA 1,250,000.00 1.625%1,258,593.75 1.358%44,936.98 1,303,530.73 01/09/17 01/10/17 02/29/20 TR US TREASURY NIA 1,400,000.00 1.375%1,395,520.00 1.480%64,835.66 1,460,355.66 01/12/17 01/13/17 10/31/20 TR US TREASURY NIA 1,300,000.00 1.375%1,289,234.38 1.601%78,611.61 1,367,845.99 01/05/17 01/18/17 01118/22 CD MB FINANCIAL BANK NIA 249,000.00 2.050%249,000.00 2.050%25,522.50 274,522.50 01/17/17 01/20/17 02111/20 CN NY LIFE GLOBAL NIA 2,000,000.00 1.950%2,000,000.00 1.950%119,275.00 2,119,275.00 01119/17 01(20117 02128/21 TR US TREASURY NIA 2,750,000.00 1.125%2,673,515.63 1,831%203,567.42 2,877,083.05 01119/17 01/20/17 07/31/21 TR US TREASURY NIA 1,500,000.00 1.125%1,448,203.13 1.925%145,113.79 1,593,316.92 01/19117 01/20/17 01/31/22 TR US TREASURY NIA 3,000,000.00 1.500%2,928,555.00 2.000%297,790.11 3,226,345.11 01/05/17 01/20/17 01/20/22 CD FIRST NATL BANK OF AMERICA NIA 249,000.00 2.050%249,000.00 2.050%25,522.50 274,522.50 01/09/17 01/26/17 01/26122 FA FHLMC 7/26/2017 2,000,000.00 2% STEP 2,000,000.00 2.360%237,500.00 2,237,500.00 01/26/17 01/27/17 10/09/19 FA FNMA N/A 1,000,000.00 0.000%950,223.00 1.900%49,777.00 1,000,000.00 01126/17 01/27/17 02/28/19 TR US TREASURY NIA 1,000,000.00 1.375%1,003,590.00 1.200%25,125.47 1,028,715.47 01126/17 01/27/17 03131/19 TR US TREASURY NIA 1,000,000.00 1.500%1,005,980.00 1.220%26,616.15 1,032,596.15 01126/17 01/27/17 09/27/19 FA FFCB NIA 1,000,000.00 1.550%1,004,421.67 1.430%36,911.66 1,041,333.33 FEBRUARY 02/02/17 02/07/17 08/08/21 CN MICROSOFT NIA 2,000,000.00 1.550%1,947,120.00 2.170%192,466.11 2,139,586.11 02/02/17 02/03/17 12131/21 TR US TREASURY NIA 1,850,000.00 2.125%1,867,632.81 1.920%175,237.36 2,042,870.17 02/09/17 02/16117 08/16/21 FA FHLB 2/16/2018 1,325,000.00 2.000%1,325,000.00 2.000%119,250.00 1,444,250.00 02/14/17 02/16117 07126/21 FA FHLMC NIA 1,400,000.00 1.875%1,392,580.00 2.000%124,086.67 1,516,666.67 02/16/17 02/17/17 02/28/21 TR US TREASURY NIA 1,225,000.00 1.125%1,194,853.52 1.760%85,690.25 1,280,543.77 02/17117 02/21/17 10/18/21 FA FFCB 4/18/2017 1,250,000.00 2.140%1,250,000.00 2.140%124,610.42 1,374,610.42 02/17/17 02/21/17 05/31/19 TR US TREASURY N/A 800,000.00 1.500%803,875.00 1.283%23,388.74 827,263.74 02/17/17 02/21/17 12/13119 FA FHLB NIA 1,000,000.00 2.375%1,024,070.00 1.497%42,693.89 1,066,763.89 02117/17 02/23/17 02/23/22 FA FAMCA NIA 2,600,000.00 2.100%2,609,204.00 2.025%263,796.00 2,873,000.00 02114/17 02/28/17 02/28/22 FA FHLB 2/28/2018 2,600,000.00 1.25% STEP 2,600,000.00 2.239%292,500.00 2,892,500.00 02/23/17 02/24/17 11122121 FA FHLB 11/22/2017 1,500,000.00 1.125% STEP 1,500,000.00 2.170%155,062.50 1,655,062.50 MARCH 02/21/17 03/06/17 03/06/22 CN EXXON 1/6/2022 2,000,000.00 2.397%2,003,380.00 2.360%236,320.00 2,239,700.00 03/01/17 03/02/17 03/31/22 TR US TREASURY N/A 3,000,000.00 1.750%2,963,925.00 2.000%302,757.69 3,266,682.69 03/09/17 03/10117 01115/21 FA FAMCA NIA 1,580,000.00 2.000%1,576,287.00 2.063%125,285.22 1,701,572.22 03/09117 03/10/17 09/30/21 TR US TREASURY NIA 1,200,000.00 1.125%1,150,500.00 2.078%111,028.85 1,261,528.85 03/09/17 03110/17 03/15/18 TR US TREASURY NIA 1,200,000.00 1.000%1,198,788.00 1.100%13,377.75 1,212,165.75 03/06/17 03/29/17 09/29/20 FA FHLMC 9/29/2017 2,500,000.00 1.25% STEP 2,500,000.00 2.338%206,250.00 2,706,250.00 03/16/17 03/29121 03/29/21 FA FNMA 9/29/2017 2,000,000.00 2.125%2,000,000.00 2.125%170,000.00 2,170,000.00 03123/17 03/29/17 03/29/22 FA FHLMC 3129/2018 1,500,000.00 1.375% STEP 1,500,000.00 2.265%170,625.00 1,670,625.00 03116/17 03/29/17 03/29/22 FA FHLMC 3129/2018 1,150,000.00 2.350%1,150,000.00 2.350%135,125.00 1,285,125.00 TOTAL THIRD QUARTER 2016.2017 60,378,000.00 60,035,179.89 1.928%4,976,642.68 65,011,822.57 rn Item #1 May 9, 2017 Page 9 of 23 TRANSACTIONS FOR PERIOD: 01/01117 TO 03131/17 3rd QUARTER 2016.2017 Trans Investment Maturity Call Par Amount Return Investment Date Date Date Type Security Date Value Coupon ICosti Rate Interest Return MATURITIES JANUARY 01/03113 01103/17 FA FHLMC NIA 3,000,000.00 0.600%2,998,500.00 0.613%73,500.00 3,072,000.00 09/18114 01/15/17 CN COLGATE-PALMOLIVE N/A 500,000.00 1.300%504,585.00 0.900%4,970,415.00 5,475,000.00 01/31/12 01/31/17 CN BERSHIRE HATHAWAY N/A 5,000,000.00 1.900%5,047,739.83 1.700%427,260.17 5,475,000.00 01/31112 01131/17 CN HSBC BANK NIA 5,000,000.00 2.5% FLOATING 5,000,000.00 1.748%425,000.00 5,425,000.00 03/05112 01131/17 CN BERSHIRE HATHAWAY NIA 2,850,000.00 1.900%2,914,809.00 1.418%200,676.42 3,115,485.42 FEBRUARY 08/06/12 02/06/17 CN IBM NIA 5,000,000.00 1.250%5,077,000.00 0.900%204,250.00 5,281,250.00 02/16/12 02115/17 CN WESTPAC BANKING CORP NIA 5,000,000.00 2.300%5,000,000.00 2.300%574,680.56 5,574,680.56 02/05/16 02/15/17 CN PEFOC N/A 2,000,000.00 1.375%2,012,360.00 0.770%15.903.89 2,028,263.89 02/28/12 02/28/17 CD MERCANTILE BANK OF MICHIG)N/A 248,000.00 1.150%247,380.00 1.150%14,895.62 262,275.62 MARCH 04/25114 03110117 FA FHLB NIA 3,000,000.00 0.875%3,002,460.00 0.846%73,008.75 3,075,468.75 10/30115 03/02/17 FA FHLB N/A 3,500,000.00 0.750%3,507,910.00 0.580%27,235.83 3,535,145.83 04/25114 03/13/17 TR US TREASURY N/A 3,000,000.00 1.000%3,010,827.00 0.870%77,123.82 3,087,950.82 TOTAL THIRD QUARTER 2016.2017 38,098,000.00 38,323,570.83 1.275%7,083,950.06 45,407,520.89 CALLS JANUARY 04/25116 04/27/16 01/27/20 FA FHLMC 1/27/2017 2,000,000.00 0.75% STEP 1,999,000.00 1.559%117,250.00 2,116,250.00 FEBRUARY • NONE MARCH 212212016 03/10116 03110/21 FA FNMA 3/1012017 2,500,000.00 1% STEP 2,500,000.00 1.724%215,000.00 2,715,000.00 TOTAL THIRD QUARTER 2016.2017 4,500,000.00 4,499,000.00 1.651%332,250.00 4,831,250.00 Item #1 May 9, 2017 Page 10 of 23 INVESTMENT REPORT AS OF MARCH 31, 2017 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN JDaysi 6126/2015 FA FNMA 1.125%NON-CALL 1,250,000.00 1,260,975.00 0.643%14,845.31 1.275,820.31 671 9/6/2013 FA FHLMC .70% CALL 5/8115 ONE TIME 5,000,000.00 4,855.000.00 1.515%273,527.78 5,128,527.78 1,340 1/27/2015 FA FHLMC 1.25% NON-CALL 2,000,000.00 2,025,640.00 0.685%31,651.67 2,057,291.67 836 816/2012 FA FHLB .875% NON-CALL 4,000,000.00 4,000.000.00 0.875%169,166.67 4,169,166.67 1,765 5/15/2015 FA TVA 5.50% NON-CALL 500,000.00 551.225.00 0.742%8,587.50 559,812.50 795 7/25/2016 FA FHLB .625% NON-CALL 2,000,000.00 1,999.700.00 0.640%12,800.00 2,012,500.00 365 5/20/2015 FA FHLMC 1.0% NON-CALL 2,125,000.00 2,138.812.50 0.702%32,701.39 2,171.513.89 800 10/28/2015 FA FHLMC 0.70% QRTLY CALL 3,000.000.00 3.000.000.00 0.700%36,750.00 3,036,750.00 639 11/20/2013 FA FFCB .700% CALL 11/26113 QRTLY 2,000,000.00 1,975,000.00 1.043%77,072.22 2,052,072.22 1,358 10/9/2015 FA FHLB 0.75% NON-CALL 2,000,000.00 2,004,800.00 0.622%23,491.67 2,028.291.67 689 12/29/2015 FA FHLB .75% NON-CALL 1,000,000.00 995,550.00 1.020%16,929.17 1,012,479.17 608 4126/2016 FA FHLB .75% NON-CALL 2,700,000.00 2,700,000.00 0.750%27,112.50 2,727,112.50 489 4/26/2016 FA FNMA 1.0% NON-CALL 2,096,000.00 2,102.707.20 0.770%22,636.80 2,125,344.00 512 3/26/2014 FA FHLB 1.05% CALL 9/26/14 ONE TIME STEP 2,000,000.00 2,000,000.00 1.050%73,500.00 2,073,500.00 1,280 1/23/2014 FA FFCB 1.160% NON-CALL 2,000,000.00 1,995.000.00 1.229%92,000.00 2,087,000.00 1,369 2119/2013 FA FFCB .87% CALL 11/27/13 CONT 2,000,000.00 1.985,000.00 1.030%98,036.67 2,083,036.67 1,742 5/28/2013 FA FHLMC .75% CALL 5/28/15 ONE T ME 5,000,000.00 5,000000.00 0.750%168,750.00 5,168.750.00 1,645 3/6/2013 FA FNMA 1.0% CALL 3/6/15 ONE TIME 3,050,000.00 3,050.000.00 1.000%144,875.00 3,194,875.00 1,736 12/3/2012 FA FHLB 2.625% NON-CALL 3,000,000.00 3,270.090.00 0.790%124,753.75 3,394,843.75 1,831 1/22/2013 FA FHLMC 95% CALL 1/22/15 QRTLY 3,350,000.00 3,341,826.00 1.000%167,299.00 3,509,125.00 1,826 1/2512013 FA FAMCA .93% NON-CALL 5,000,000.00 5,004.870.00 0.910%227,500.83 5,232,370.83 1,825 2/1/2013 FA FAMCA 1.05% NON-CALL 5,000,000.00 5,000.000.00 1.000%262,354.17 5,262,354.17 1,824 11/3/2015 FA FNMA .875% NON-CALL 2,700,000.00 2,700,891.00 0.860%52,593.37 2,753,484.37 828 5/8/2013 FA FHLB 1.10%CALL 2/20/14 CONT 1,000,000.00 1,000.774,00 1.080%51,842.67 1,052,616.67 1,749 2/2012015 FA FFCB 1.11% NON-CALL 2,500,000.00 2,500.000.00 1.110%83,250.00 2,583,250.00 1,096 7/21/2016 FA FHLB 1.375% NON-CALL 5,000,000.00 5,048.990.00 0.770%63,301.67 5,112,291.67 596 10/2612016 FA FFCB 0.75% NON-CALL 1,600,000.00 1,598.592.00 0.810%19,141.33 1,617,733.33 539 8/5/2014 FA FNMA 00875%NON-CALL 2,500,000.00 2,460,777.84 1.300%122,225.63 2,583,003.47 1,385 5/30/2013 FA FHLB 1.050% CALL 7/4/13 CONT 3,000,000.00 2,964.750.00 1.050%193,100.00 3,1571850.00 1,831 6/21/2016 FA FHLB 1.25% NON-CALL 4,000,000.00 4,034.280.00 0.809%63,914.44 4,098,194.44 717 10/19/2015 FA FFCB 1.03% CALL 1/13/16 CONT 3,000,000.00 3,000.000.00 1.030%84,460.00 3,084,460.00 998 12/29/2015 FA FNMA 1.125% NON-CALL 1,000,000.00 997,610.00 1.220%31,171.25 1.028,781.25 934 7/2712016 FA FNMA .875% ONE CALL 7/27/17 3,000,000.00 2,997.750.00 0.913%54,750.00 3,052,500.00 730 1/2712015 FA FNMA 1.0% NON-CALL 1,100.000.00 1,096.139.00 1.102%42,452.67 1,138,591.67 1,280 5/512014 FA FFCB 1.6% NON-CALL 2,500,000.00 2,515,710.93 1.450%157,622.40 2,673,333.33 1,584 10/2712015 FA FHLB 1.125% NON-CALL 4,000,000.00 4,020.840.00 0.941%108,785.00 4,129,625.00 1,053 5/2/2014 FA FNMA 1.875% NON-CALL 1,500,000.00 1,524.000.00 1.500%99,125.00 1,623,125.00 1,600 111612014 FA FHLMC 1.20% CALL 9/24/14 ONE TIME 2,250,000.00 2,196.562.50 1.729%180,037.50 2,376,600.00 1,712 5/212016 FA FNMA 1.125% NON-CALL 2,000,000.00 2,006,660.00 0.984%47,465.00 2,054,125.00 879 3/3012015 FA FHLB 1.30% NON-CALL 1,000,000.00 1,000.000.00 1.300%46,583.33 1,046,583.33 1,310 5/212014 FA FNMA 1.625% NON-CALL 2,000,000.00 2,008.347.18 1.530%140,159.76 2,148,506.94 1,670 Cd 6/312014 FA FNMA 1.625% NON-CALL 2,000,000.00 2,010.791.92 1.500%134,826.14 2,145,618.06 1,638 7121/2015 FA FNMA 1.50% NON-CALL 1,000,000.00 1,006.875.00 1.290%43,500.00 1,050,375.00 1.228 1-3 5/15/2015 FA FNMA 1.25% CALL 6/14/15 QRTLY 1,000,000.00 997,500.00 1.322%47,256.94 1,044,756.94 1.309 Item #1 May 9, 2017 Page 11 of 23 INVESTMENT REPORT AS OF MARCH 3112017 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN glayi) 6/5/2015 FA FHLB 1.75% NON-CALL 2,000,000.00 2,034,100.00 1.254%16,625.00 2,050,725.00 1,288 2/2012015 FA FNMA 1.1% NON-CALL 1,000,00000 992,180.00 1.300%49,925.56 1,042,105.56 1,397 10/28/2015 FA FFCB 1.15% CALL 1128/16 4,650,000.00 4,648,837.50 1.158%174,956.25 4,823,793.75 1,188 1112/2015 FA FNMA 1.20% CALL 4/29/16 5,000,000.00 4,992,500.00 1.247%202,00000 5,194,500.00 1,184 2126/2016 FA FFCB 1.03% NON-CALL 4,000,000.00 4,004,640.00 0.990%117,357.78 4,121,997.78 1,096 12/912014 FA FNMA 1.75% NON-CALL 2,500,000.00 2,515,625.00 1.596%168,854.17 2,684,479.17 1,541 12/1212014 FA FNMA 1.70% NON-CALL 1,852,000.00 1,863,630 56 1.545%120,864.61 1,984,495.17 1,538 10/612014 FA FHLB 1.875% NON-CALL 2,000,000.00 2,011,440.00 1.875%154,393.33 2,165,833.33 1,614 1/2912016 FA FHLB 4.250% NON-CALL 1,500,000.00 1,643,640.00 1.166%20,895.83 1,664,535.83 1,158 12/1912016 FA FAMCA 1.86% NON-CALL 500,000,00 505,300.00 1.390%16,167.50 521,467.50 842 6/612014 FA FHLMC 1.2%CALL 5/7/15 1,000,000.00 976,800.00 1.693%82,233.33 1,059,033.33 1,796 6/5/2015 FA FHLMC 1.75% NON-CALL 1,650,000.00 1,670,229.00 1.432%94,869.96 1,765,098.96 1,455 7/1012015 FA FHLMC 1.75% NON-CALL 1,000,000.00 1,015,100.00 1.350%52,955.56 1,068,055.56 1,420 7/15/2015 FA FAMCA 1,50% NON-CALL 1,060.000.00 1,060,000 00 1.500%62,230.83 1,122,230.83 1,430 2126/2016 FA FAMCA 1.50% NON-CALL 3,000,000.00 3,033,300.00 1.156%115,200.00 3,148,500.00 1,204 6/2412015 FA FFCB 1.52% NON CALL 2,000,000.00 2,002,320.00 1.490%119,280.00 2,121,600.00 1,461 6/26/2015 FA FFCB 1.52%NON-CALL 2,250,000.00 2,251,282.50 1.505%135,327.50 2,386,610.00 1,459 6/2812016 FA FNMA 1.20% CALL 12/28/16 2,500,000.00 2,500,000 00 1.200%90,000.00 2,590,000.00 1,095 1/23/2015 FA FFCB 2.15% NON-CALL 3,250,000.00 3,354,097 50 1.410%209,175.42 3,563,272.92 1,636 7/2612016 FA FNMA 1.05% ONE CALL 7126118 2,300,000.00 2,300,000.00 1.050%48,300.00 2,348,300.00 1,095 1/2112015 FA FHLMC 1.25% NON-CALL 2,500,000.00 2,493,975.00 1.305%147,518.06 2,641,493.06 1,653 8/30/2016 FA FNMA 1.0% ONE CALL 8/28/18 2,400,000.00 2,400,000.00 1.000%71,866.67 2,471,866.67 1,093 10/2312014 FA FHLB 2.00% NON-CALL 1,500,000.00 1,525,968.30 1.630%120,698.37 1,646,666.67 1,786 1/2112015 FA FHLB 1.375% NON-CALL 2,000,000.00 2,000,440.00 1.370%127,282.22 2,127722.22 1,696 1/27/2017 FA FFCB 1.550% NON-CALL 1,000,000.00 1,003,1 30.00 1.430%38,203.33 1,041,333.33 973 7/1912016 FA FHLMC 1.25% NON-CALL 3,000.000.00 3,027,363.00 1.250%92,741.17 3,120,104.17 1,170 10/6/2015 FA FNMA 1.33% NON-CALL 4,183,000.00 4,197.807.82 1.240%210,509.47 4,408,317.29 1.479 5/26/2016 FA FNMA 1.30% QRTLY CALL 4,000,000.00 4,000,000.00 1.300%182,000.00 4,182,000.00 1,279 6115/2015 FA FHLB 2.375% NON-CALL 3,370,000.00 3,468,026.56 1.700%261,697.54 3.729,724.10 1,642 2121/2017 FA FHLB 2.375% NON-CALL 1,000.000.00 1,024,070.00 1.497%42,693.89 1,066,763.89 1.025 1213012015 FA FFCB 1.72% CALL 12130116 2,600.000.00 2,600,000.00 1.720%178,880.00 2,778,880.00 1,461 10/5/2015 FA FHLMC 1.40% NON-CALL 3,500,000.00 3,519,495.00 1.265%189,299.44 3.708,794.44 1,557 5/13/2016 FA FHLMC 1.30% CALL 2113117 ONE TIME 2,750,000.00 2,750,000.00 1.300%134,062.50 2,884,062.50 1,371 712812016 FA FNMA 1.20% CALL 7/28/17 ONE TIME 4,850,000.00 4,850,000.00 1.200%203,700.00 5,053,700.00 1,279 2124/2016 FA FHLMC 1.50% CONT CALL 1,750,000.00 1,750,000.00 1.500%105,000.00 1,855,000.00 1,461 2/2412016 FA FFCB 1.4% CONT CALL 1,000,000.00 1,000,000.00 1.400%56,000.00 1,056,000.00 1,461 1/4/2017 FA FHLMC 1.25% ORTLY CALL 2,000,000.00 1,978,000.00 1.610%100,750.00 2,078,750.00 1,150 7/1312016 FA FNMA 1.25% CALL 4/13117 ONE TIME 5,000,000.00 5,000,000.00 1.250%234,375.00 5,234,375.00 1,370 11612017 FA FFCB 1.4% CONT CALL 1,000,000.00 992,000.00 1.652%53,772.22 1,045,772.22 1,193 7/28/2016 FA FNMA 1.25% CALL 4/28117 ONE TIME 3,750,000.00 3,750,000.00 1.250%175,781.25 3.925,781.25 1,370 5/2612015 FA FNMA 1.7% CALL 5126/17 ONE CALL 3,000,000.00 3,000,000.00 1.700%255,000.00 3.255,000.00 1,827 6/1212015 FA FHLB 1.75% NON-CALL 3,000,000.00 3,000,000.00 1.750%262,500.00 3.262,500.00 1.827 212312016 FA FHLB 1.75% NON-CALL 2,000,000.00 2,039,980.00 1.271%110,617.22 2,150,597.22 1,571 4/1512016 FA FNMA 1.35% NON-CALL 2,150,000.00 2,159,632.00 1.240%112,192.37 2,271,824.37 1,533 7/13/2016 FA FFCB 1.19% CALL 7/13/17 CONT 4,250,000.00 4,250,000.00 1.190%202,300.00 4,452,300,00 1,461 Item #1 May 9, 2017 Page 12 of 23 INVESTMENT REPORT AS OF MARCH 31, 2017 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN LDa ii 1/2112016 FA FHLB 1.83% NON-CALL 2,500,000.00 2,549,375.00 1.378%157,51667 2,706,891.67 1.651 91712016 FA FFCB 1.32% CALL 8/24117 CONT 3,000,000.00 2,998.260.00 1.335%158,710.00 3,156,970.00 1,447 4/1912016 FA FHLMC 1.65% NON-CALL 1,000,000.00 1,017,760.00 1.230%54,152.50 11071,912.50 1,592 6/812016 FA FHLB 2.875% NON-CALL 3,000,000.00 3,206,160.00 1.214%161,121.25 3,367,281.25 1.556 1011212016 FA FHLB 1.375% NON-CALL 1,800,000.00 1,808,975.18 1244%87,893.57 1,896,868.75 1.430 3/2912017 FA FHLMC 1.25% CALL QRTLY STEP 2,500,000.00 2,500,000.00 2.338%109.375.00 2,609,375.00 1.280 10/12/2016 FA FHLB 1.375% CALL 1/6/17 1,800,000.00 1,797,300.00 1.414%101.287.50 1,898,587.50 1.455 712212016 FA FNMA 1.65% NON-CALL 3,250,000.00 3,316.612.00 1.165%166,507.79 3.483,119.79 1,589 6/1412016 FA FFCB 1.54% CALL 6/14/17 CONT 2,250,000.00 2,250.000.00 1.540%155,925.00 2,405,925.00 1,644 6/2112016 FA FFCB 1.55% CALL 9/21/16 CONT 2,000,000.00 2,000,000.00 1.550%139,500.00 2,139,500.00 1,644 3/10/2017 FA FAMCA 2.0% NON-CALL 1,580,000.00 1,576,287.00 2.063%125,285.22 1,701,572.22 1,407 4/26/2016 FA FFCB 1.60% CALL 7/19/16 CONT 3,250,000.00 3,247,010.00 1.620%248,978 89 3,495,988.89 1,729 7/19/2016 FA FHLB 1.40% CALL 10119/16 CONT 3,500,000.00 3.500,000.00 1.400%220,500.00 3,720,500.00 1.645 919/2016 FA FAMCA 1.550% NON-CALL 2,000,000.00 2,018 640.00 1.550%117,071.11 2,135,711.11 1,599 10/1212016 FA TENN VALLEY AUTHORITY 3.875% NON-CALL 3,000,000.00 3315.660.00 1.370%189,058.75 3,504,718.75 1,587 2/2612016 FA FHLMC 1.25% QRTLY CALL STEP 1,000,000.00 999,500.00 2.103%106,750.00 1,106,250.00 1,827 2/26/2016 FA FHLB 1.69% CALL 8126116 CONT 480,000.00 480,000.00 1.690%74,495.20 554,495.20 1,827 3/22/2016 FA FHLB 1.25% QRTLY CALL 6/22/16 STEP 2,500,000.00 2,498.750.00 1.870%235,625.00 2,734,375.00 1,826 3/29/2017 FA FNMA 2.125% QRTLY CALL 9/29117 2,000,000.00 2,000,000.00 2.125%170,000.00 2,170,000.00 1.461 4/2812016 FA FHLMC 1.25% QRTLY CALL 10128/16 STEP 2,500,000.00 2,496.250.00 2.122%269,375.00 2.765,625.00 1,826 5/2512016 FA FFCB 1.66% CALL 5/25117 CONT 4,000,000.00 3,997.600.00 1.673%334,400.00 4,332,000.00 1,826 10/1212016 FA FHLB 2.25% NON-CALL 1,500,000.00 1,559.427.00 1.370%97,979.25 1,657,406.25 1,703 10/2612016 FA FHLB 1.125% NON-CALL 2,500,000.00 2,476.850.00 1.328%155,806.25 2,632,656.25 1,722 2/1612017 FA FHLMC 1.875% NON-CALL 1,400,000.00 1,392.580.00 2.000%124,086.67 1,516,666.67 1,621 11/17/2016 FA FNMA1.00% CALLI 1128117 QRTLY CALL STEP 2,600,000.00 2,596,100.00 2.079%256,027.78 2,852,127.78 1,714 2/16/2017 FA FHLB 2.0% CALL 2116118 ONE TIME 1,325,000.00 1,325.000.00 2.000%119,250.00 1.444,250.00 1,642 10/2812016 FA FNMA 1.375%NON-CALL 2,500,000.00 2,491.075.00 1.450%178,794.79 2.669,869.79 1,805 2/21/2017 FA FFCB 2.14% CALL 4/18117 CONT 1,250,000,00 1,250.000 00 2.140%124,610.42 1,374,610.42 1,700 2/2412017 FA FHLB 1.125% CALL 11122/17 STEP 1,500,000.00 1,500.000.00 2.170%155,062.50 1.655,062.50 1,732 11/2912016 FA FFCB 1.76% NON-CALL 3,000,000.00 3,000.000.00 1.760%264,000.00 3.264,000.00 1,826 1/2612017 FA FHLMC 2.0% QRTLY CALL STEP 2,000,000.00 2,000.000.00 2.360%237,500.00 2,237,500.00 1,826 2123/2017 FA FAMCA 2.1% NON-CALL 2,600,000.00 2,609,204.00 2.025%263,796.00 2.873.000.00 1,826 212812017 FA FHLB 1.25% ONE TIME CALL STEP 2,600,000,00 2,600,000.00 2.239%292,500.00 2.892,500.00 1,826 3/2912017 FA FHLMC 1.375 ONE CALL 3/29/18 STEP 1,500,000.00 1,500.000.00 2.265%170,625.00 1.670,625.00 1.826 3/2912017 FA FHLMC 2.35 QRTLY CALL 1,150,000.00 1,150.000.00 2.350%135,125.00 1,285,125.00 1,826 SUB-TOTAL 298,621,000.00 300,123.321.99 1.313%15,653,651.66 315,776,973.65 1,400 1/2312015 FN FNMA 0% NON-CALL 1,163,000.00 1,086.447.85 1.700%76,552.15 1.163,000.00 1,470 1/2112015 FN FICO 0°/0 NON-CALL 4,000,000.00 3,772.000.00 1.400%228,000.00 4,000,000.00 1,535 411/2015 FN FICO 0% NON-CALL 2,100,000.00 1,958.591.39 1.560%141,408.61 2,100,000.00 1,639 9/2312015 FN FICO 0% NON-CALL 3,200,000.00 3,003.168.00 1.590%196,832.00 3.200,000.00 1,464 3/312015 FN FNMA 0% NON-CALL 2,000,000,00 1,825,044.00 2.000%174,956.00 2.000,000.00 1,681 1117/2016 FN FNMA 0% NON-CALL 2,200,000.00 2.115,792.80 1.340%84,207.20 2.200,000.00 1.066 1/2712017 FN FNMA 0% NON-CALL 1,000,000.00 950,223.00 1.900%49,777.00 1.000,000.00 985 Item #1 May 9, 2017 Page 13 of 23 INVESTMENT REPORT AS OF MARCH 31, 2017 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN JDaysl 10/23/2015 FN RFCSP 0% NON-CALL 3.000.000.00 2,750.760.00 1.750%249,240.00 3.000.000.00 1,819 SUB-TOTAL 18,663,000.00 17,462,027.04 1.6071%1.200.972.96 18,663,000.00 3,005 Federal Investments Total 317,284,000.00 317,585,349.03 16,854,624.62 334,439,973.65 2,203 9119/2014 TR US TREASURY 0.875%3.000,000.00 2.996,484.38 0.920%72,136.54 3,068,620.92 954 7/21/2015 TR US TREASURY .50%2.000E0.00 1,995,000.00 0.642%22.771.74 2,017,771.74 649 9/19/2014 TR US TREASURY 0.625%1.000.000.00 991,015.63 0.963%25,838.88 1,016.854.51 985 11122/2013 TR US TREASURY .50%2.000.000.00 1.974,619.96 0.850%62,282.21 2,036.902.17 1,347 5/2212015 TR US TREASURY .50%1.000.000.00 996,900.00 0.643%14,066.85 1.010.966.85 801 7121/2015 TR US TREASURY .625%2.000,000.00 1.994,352.00 0.760%32,040.66 2.026.392.66 772 9118/2015 TR US TREASURY 1.875%2,500,000.00 2,551,660.00 0.805%39,772.01 2.591,432.01 713 1/29/2016 TR US TREASURY 1.00%2.800.000.00 2,809,078.13 0.800%36.460.33 2,845.538.46 595 7121/2015 TR US TREASURY .625%1.500,000.00 1.494,787.50 0.785%25,781.15 1,520.568.65 802 3/512015 TR US TREASURY .75%2,000,000.00 1.989,531,25 0.950%50,289.19 2,039.820.44 971 10127/2015 TR US TREASURY .75%2.500,000.00 2.506,045.00 0.629%31,658.80 2.537.703.80 735 12/212016 TR US TREASURY 1.875%2,750,000,00 2,776,034.25 0.830%20,970.24 2.797,004.49 333 3110/2017 TR US TREASURY 1.00%1.200.000.00 1.198,788.00 1.100%13,377.75 1,212,165.75 370 7121/2015 TR US TREASURY .75%1.700,000.00 1.691,765.61 0.932%42,582.75 1,734,348.36 984 12116/2016 TR US TREASURY 2.875%2,000,000.00 2.045,792.00 1.080%28,294.54 2,074.086.54 470 10126/2016 TR US TREASURY .75%2,400,000.00 2.400,000.00 0.750%27,244.57 2,427,244.57 551 101712014 TR US TREASURY 1.375%1,400,000.00 1,400,251.69 1.370%73,191.24 1.473.442.93 1,393 7116/2014 TR US TREASURY 1.50%4,000,000.00 4,009,600.00 1.496%237,900.00 4.247,500.00 1,507 7124/2014 TR US TREASURY 1.50%2.000.000.00 2.006.348.00 1.420%116,749.83 2,123.097.83 1.499 10/712014 TR US TREASURY 1.50%1.500,000.00 1.505,664.36 1.400%82,035.92 1.587,700.28 1.424 8/512014 TR US TREASURY 1.25%3.000,000.00 2.974,200.00 1.460%184,665.49 3,158,865.49 1,548 12129/2015 TR US TREASURY 1.25%2,000,000.00 1.998,878.00 1.270%72,069.80 2.070,947.80 1,037 4115/2016 TR US TREASURY 1.25%1,500,000.00 1,515,292.97 0.850%33,127.36 1.548,420.33 944 1013/2014 TR US TREASURY 1.50%1,000,000.00 1,000,000.00 1.500%63,627.72 1,063,627.72 1.550 6/512015 TR US TREASURY 1.50%2.000,000.00 2.015,296.00 1.285%94,344.88 2.109.640.88 1,336 1127/2017 TR US TREASURY 1.375%1,000,000.00 1,003,590.00 1.200%25,125.47 1.028.715.47 762 10/612015 TR US TREASURY 1.625%4,000,000.00 4,083,992.00 1.010%142,442.43 4.226,434.43 1,272 1/27/2017 TR US TREASURY 1.50%1,000,000.00 1,005,980.00 1.220%26,616.15 1,032,596.15 793 12119/2016 TR US TREASURY 1.25%800,000.00 798,640.00 1.323%25,006.41 823,646.41 862 7121/2015 TR US TREASURY 1.5%1,500,000.00 1,505,156.25 1.408%81,708.50 1.586,864.75 1,410 2121/2017 TR US TREASURY 1.5%800,000.00 803,875.00 1.283%23,388.74 827,263.74 829 811/2014 TR US TREASURY 1.625%2,515,000.00 2,500,019.15 1.750%219,213.54 2,719,232.69 1,825 1016/2014 TR US TREASURY 1.00%1,000,000.00 964,920.00 1.036%84,085.52 1,049,005.52 1,790 1110/2017 TR US TREASURY 1.625%1,250.000.00 1,258,593.75 1.358%44,936.98 1,303,530.73 963 12122/2016 TR US TREASURY 1.375%2,200,000.00 2,184,531.25 1.602%111,901.07 2,296.432.32 1,164 1/1012017 TR US TREASURY 1.375%1,400,000.00 1,395,520.00 1.480%64,835.66 1.460,355.66 1,145 512412016 TR US TREASURY 1.375%2,300,000.00 2,315,093.75 1.204%109,343.75 2,424,437.50 1,437 Item #1 May 9, 2017 Page 14 of 23 INVESTMENT REPORT AS OF MARCH 31, 2017 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 1211912016 TR US TREASURY 1.625%1,350,000.00 1,345,570.31 1.721%81,926.29 1,427,496.60 1.289 12/212016 TR US TREASURY 1.625%1,500,000.00 1,500.000.00 1.625%89,286.68 1,589,286.68 1.337 912212015 TR US TREASURY 2.125%3,000,000.00 3,085,500.00 2.097%229,396.98 3,314,896.98 1.805 1012812016 TR US TREASURY 1.375%1,750,000.00 1,759,570.31 1.235%86,875.85 1,846,446.16 1.464 12/212016 TR US TREASURY 1.375%1,200,000.00 1,186,200.00 1.680%78,341.44 1,264,541.44 1.429 1/1312017 TR US TREASURY 1.375%1,300,000.00 1,289,234.38 1.601%78,611.61 1,367,845.99 1.387 1/512016 TR US TREASURY 2.375%4,000,000.00 4,127,500.00 1.705%346,195.00 4,473,695.00 1.822 5/512016 TR US TREASURY 1.75%2,000,000.00 2,049,174.00 1.205%113.710.62 2,162,884.62 1,701 112012017 TR US TREASURY 1.125%2,750,000.00 2,673,515.63 1.831%203.567.42 2,877,083.05 1,500 211712017 TR US TREASURY 1.125%1,225,000.00 1,194,853.52 1.760%85,690.25 1,280,543.77 1,472 811912016 TR US TREASURY 1.375%3,000,000,00 3,037,662.00 1.100%156.145.74 3,193,807.74 1.715 1211612016 TR US TREASURY 2.000%2,250,000.00 2,250,000.00 2.000%200,521.98 2,450,521.98 1,627 1012812016 TR US TREASURY 1.125%2,500,000.00 2,477,400.00 1.325%154,053.80 2,631,453.80 1,706 12/1612016 TR US TREASURY 1.125%2,650,000,00 2,547,312.50 2.022%238,058.93 2,785,371.43 1,657 112012017 TR US TREASURY 1.125%1.500,000.00 1,448,203.13 1.925%145,113.79 1,593,316.92 1,653 12/212016 TR US TREASURY 2.125%1,600,000.00 1,615,500.00 1.913%148,615.38 1,764,115.38 1,763 3/1012017 TR US TREASURY 1.125%1,200,000.00 1,150,500.00 2.078%111,028.85 1,261,528.85 1,665 1111712016 TR US TREASURY 2.00%2,000,000.00 2,030,000.00 1.683%168,121.55 2,198,121.55 1,809 .- 1111812016 TR US TREASURY 2.00%2,000,000.00 2,028,360.00 1.700%169,651.15 2,198,011.15 1,808 1112212016 TR US TREASURY 2.00%2,000,000.00 2,016,562.50 1.825%182,664.02 2,199,226.52 1,819 1/612017 TR US TREASURY 2.125%4,000,000.00 4,052,128.00 1.850%371,463.16 4,423,591.16 1,820 2/312017 TR US TREASURY 2.125%1,850,000.00 1,867,632.81 1.920%175.237.36 2,042,870.17 1,792 112012017 TR US TREASURY 1.50%3,000,000.00 2,928,555.00 2.000%297.790.11 3,226,345.11 1,837 31212017 TR US TREASURY 1.750%3,000,000.00 2,963,925.00 2.000%302.757.69 3,266,682.69 1,855 SUB-TOTAL 123,140,000.00 123.282,154.97 1.381%6,676,710.32 129,958,865.29 1,283 4/1812012 CN WAL-MART STORES 5375% NON-CALL 3,000,000.00 3.568,354.19 1.400%229.833.31 3,798,187.50 1,813 4/912015 CN NY LIFE GOLBAL 1.65% NON-CALL 1,675,000.00 1,704,362.75 0.806%28.676.00 1,733,038.75 767 6/512012 CN HSBC BANK USA 1.925% FLOATER 5,000,000.00 5,000,000.00 1.037%342.500.00 5,342,500.00 1,826 912912016 ON ROYAL BANK OF CANADA 1.20%NON-CALL 1,275,000.00 1,276,597,58 1.070%13,277,42 1,289,875.00 355 6/1212014 CN CHEVRON CORP 1.104% NON CALL 2,000,000.00 1,996,180.00 1.160%80,670.67 2,076,850.67 1,272 3/812013 CN WAL-MART 5.8% NON CALL 3,000,000.00 3,669,120.00 1.140%189,76333 3.858,883.33 1,805 5/2712015 CN WAL-MART 5.8% NON CALL 2,000,000.00 2,249,440.00 1.125%65.69333 2,315,133.33 995 3/2612013 CN COCA COLA CA 1.150% MAKE-WHOLE CALL 1,000,000.00 1,000,000.00 1.150%57.627.78 1,057,627.78 1,832 10/2912015 ON WAL-MART STORES 1125% MAKE WHOLE 4,000,000.00 4,024,400.00 0.873%85.850.00 4,110,250.00 895 9/1812014 ON COLGATE-PALMOL VE .90% MAKE WHOLE CALL 1,000,000.00 980,600.00 1.452%51.97500 1,032,575.00 1,321 1/2712015 CN COLGATE-PALMOL VE .90% MAKE WHOLE CALL 2,000,000.00 1,983,000.00 1.166%75.70000 2,058,700.00 1,190 2/2512016 ON COLGATE-PALMOL VE .90% MAKE WHOLE CALL 2,500,000.00 2,495,450.00 0.984%53.67500 2,549,125.00 796 5/1112015 ON APPLE 1.0% MAKE WHOLE CALL 2,000,000.00 1,989,840.00 1.174%69,71556 2,059,555.56 1,088 5/1512013 ON BERKSH RE HATAWAY 1.30% MAKE WHOLE CALL 5,000,000.00 5,019,345.05 1220%305.654.95 5,325,000.00 1,826 1212412015 ON CHEVRON CORP 1.718% MAKE WHOLE CALL 2,250,000.00 2,253,600.00 1.650%93.037,50 2,346,637.50 913 12/3112015 ON CHEVRON CORP 1.718% MAKE WHOLE CALL 1,000,000.00 996,300.00 1.871%46,315.94 1,042,615.94 906 Item #1 May 9, 2017 Page 15 of 23 INVESTMENT REPORT AS OF MARCH 31, 2017 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN gig 1/2812016 CN TOYOTA 1.55% NON-CALL 2,000,000.00 2,014,400.00 1252%61,808.33 2,076,208.33 897 12/19/2014 CN MASS MUTUAL GLOBAL 2.10% NON-CALL 3,500,000.00 3,555.685.00 1.645%210.344,17 3,766,029.17 1,322 2/19/2015 CN ROYAL BANK OF CANADA 2.00%NON-CALL 21250,000.00 2,289,442.50 1.500%123.307,50 2,412,750.00 1.320 7/12/2016 CN IBM CORP 7.625% MAKE WHOLE CALL 2,628,000.00 3,005,118.00 1.167%75,418.12 3,080,536.12 825 4/19/2016 CN NY LIFE 1.55% NON-CALL 2,000,000.00 2,014.620.00 1.256%63,999.45 2,078,619.45 927 12/2412013 CN COCA COLA CA 1.650%MAKE-WHOLE CALL 3,500,000.00 3,491.856.17 1.700%288,391.75 3,780,247.92 1,782 10/2812015 CN JOHNSON &JOHNSON 1.65% MAKE WHOLE 4,000,000.00 4,070.600.00 1.070%134,183.33 4,204,783.33 1,134 4/9/2015 CN MICROSOFT 1.625% NON-CALL 2,000,000.00 2,037,820.00 1.096%81,075.83 2,118,895.83 1.337 4/612015 CN PEFCO 4.375% NON-CALL 2,274,000.00 2,527,892.10 1.450%138.254.46 2,666,146.56 1.439 12/22/2015 CN EXXON MOBIL 1.819% NON-CALL 1,250,000.00 1,259,125.00 1.580%64.329.76 1,323,454.76 1.179 6/30/2015 CN MASS MUTUAL GLOBAL 2.35%NON-CALL 3,250,000.00 3,286.335.00 2.040%251,980.62 3,538,315.62 1.379 101812015 CN APPLE 2.10% MAKE WHOLE CALL 2,500,000.00 2,558,025.00 1,432%129,808.33 2,687,833.33 1.306 5/27/2015 CN IBM CORP 1.8750% NON-CALL 2,150,000.00 2,169.715.50 1.635%140.190.75 2,309,906.25 1,449 7/16/2015 CN TOYOTA 2.125% NON-CALL 2,000.000.00 2,009,760.00 1.998%160.47611 2,170.236.11 1.463 4/28/2016 CN PEFCO 1.45% NON-CALL 2,600,000.00 2,617,570.80 1.240%106,734.48 2,724,305.28 1,204 11/18/2014 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 3,000,000.00 3,017.400.00 2.070%311,001.75 3,328,401.75 1,823 12/2212015 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 2,800,000.00 2,811,200.00 2.083%228.105.03 3,039,305.03 1.424 4/20/2016 CN JOHNSON &JOHNSON 1.875% MAKE WHOLE CALL 2,250,000.00 2,315.250.00 1.057%87.679.69 2,402,929.69 1.324 41912015 CN NY LIFE GOLBAL 1.95% NON-CALL 2,000,000.00 2,017.520.00 1.760%171,196.67 2,188,716.67 1,769 1/20/2017 CN NY LIFE GOLBAL 1.95% NON-CALL 2,000,000.00 2,000,000.00 1.950%119.27500 2,119,275.00 1.117 9/2512015 CN CVX 1.961% MAKE WHOLE CALL 2,800.000.00 2,790,704.00 2039%253.026.51 3,043,730.51 1.621 1114/2015 CN EXXON MOBIL 1.912% MAKE WHOLE CALL 5,000,000.00 5,057,700.00 1.630%357.097.78 5.414,797,78 1.584 5/23/2016 CN PEFCO 2.25% NON-CALL 3.000,000.00 3,099,000.00 1.358%158.250.00 3,257,250.00 1.392 1113/2015 CN APPLE 2.0% MAKE WHOLE CALL 4,000,000.00 4,028,000.00 1.837%332.666.66 4,360,666.66 1.646 5/24/2016 CN IBM 1.625% MAKE-WHOLE CALL 1,500,000.00 1,503,000.00 1.573%93,890.62 1,596,890.62 1,452 11/3/2015 CN MMM 2.0% MAKE WHOLE CALL 3,500,000,00 3,554,215.00 1.660%279,062.78 3,833,277.78 1,739 9/25/2015 CN JOHNSON & JOHNSON 2.95% MAKE WHOLE 1,000,000.00 1,058,028.49 1.718%87,504.84 1,145,533.33 1,803 9/24/2015 CN AUTOMATIC DATA PROCESSING 2.25% MAKE-WHOL 4,000,000.00 4,029,600.00 2.090%418,150.00 4,447,750.00 1,818 11/10/2015 CN MICROSOFT 2.00% MAKE WHOLE CALL 5,000.000.00 5,018,550.00 1.920%479,505.56 5,498,055.56 1,820 6/10/2016 CN MICROSOFT 2.00% MAKE WHOLE CALL 1,500,000.00 1,539,450.00 1.370%92.466.67 1,631,916.67 1,607 4/28/2016 CN EXXON MOBIL 2.222% MAKE WHOLE CALL 2,000,000.00 2,042,900.00 1.750%172,263.67 2,215,163.67 1,768 7/26/2016 CN EXXON MOBIL 2.222% MAKE WHOLE CALL 1,000,000.00 1,034,050.00 1.440%68,038.55 1,102,088,55 1,679 9/16/2016 CN TOYOTA 1.90% MAKE WHOLE CALL 3,000,000.00 3,031,680.00 1.659%228,303.33 3,259,983,33 1,665 5/26/2016 CN ALPHABET, INC 3.625% MAKE WHOLE CALL 1,000.000.00 1,094,000.00 1.651%86.545.14 1,180,545.14 1.819 9/13/2016 CN MIRCOSOFT 1.55% MAKE WHOLE CALL 6,000,000.00 5.995,740.00 1.565%460.218.33 6,455,958.33 1,790 217/2017 CN MIRCOSOFT 1.55% MAKE WHOLE CALL 2,000,000.00 1,947,120.00 2.170%192,466.11 2,139,586.11 1.643 10/14/2016 CN COCA COLA 1.55% MAKE WHOLE CALL 3,600,000.00 3,581,496.00 1.660%290,839.00 3,872,335.00 1,783 1117/2016 CN IBM 2.90% MAKE WHOLE CALL 1,000.000.00 1,052,600.00 1,792%91,916.67 1,144,516.67 1,820 316/2017 CN EXXON MOBLIE 2.397% MAKE WHOLE 2,000,000.00 2,003.380.00 2.360%236,320.00 2,239,700.00 1,826 SUB-TOTAL 141,552,000.00 144,737,138.13 1.519%9,116.059.14 153,853,197.27 1,424 12/24/2012 CD DELTA NATL BANK & TRUST .90%249,000.00 248,377.50 0.952%11,624.88 260.002.38 1,792 Item #1 May 9, 2017 Page 16 of 23 INVESTMENT REPORT AS OF MARCH 31, 2017 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN layil 12/24/2012 CD PACIFIC CONTL BANK .90%249,000.00 248.452.20 0.946%11,556.33 260,008.53 1,793 12111/2012 CD BANCO POPULAR DE PR HATO 1.1%248,000.00 248,000.00 1.100%13,595.16 261,595.16 1,820 12111/2014 CD ALLY BANK 1.55%247,000.00 247.000.00 1.550%11,485.50 258,485.50 1,096 12/1412014 CD FIRST BANK OF PUERTO RICO 1.25%249,000.00 249.000.00 1.250%15,562.50 264,562.50 1,096 12/14/2012 CD BANKERS BANK KANSAS 1.0%249,000.00 248.502.00 1.000%12,948.00 261,450.00 1,826 1/16/2013 CD THE BANK OF HOLLAND 1.00%249,000.00 248.751.00 1.000%12,699.00 261,450.00 1.826 1/1612013 CD BANK OF NORTHERN MICH GAN 1.00%249,000.00 248,751,00 1.000%12,699.00 261,450.00 1,826 1/18/2013 CD STEARNS BANK .90%249,000.00 248,253.00 1.000%11,952.00 260,205.00 1,826 1/1812017 CD MB FINANCIAL BANK 2.050%249,000.00 249.000.00 2.050%25,522.50 274,522.50 1,826 1/2012017 CD FIRST NATL BANK 0 AMERICA 2.05%249,000.00 249,000.00 2.050%25,522.50 274,522.50 1,826 3/412013 CD GATEWAY BANK OF SW FLORIDA .95%209.000.00 208,373.00 1.070%10,367.28 218,740.28 1,792 1/2912016 CD CUSTOMERS BANK 1.20%248,000.00 248.000.00 1.200%5,960.27 253,960.27 731 1/30/2013 CD FARMERS & MERCHANTS BANK .90%249,000.00 248,253.00 0.900%11,952.00 260,205.00 1.826 2/1012016 CD ORIENTAL BANK SAN JAUN PR 1.2% NON-CALL 248,000.00 248.000.00 1.200%5,943.73 253194313 730 2/1012016 CD CADENCE BANK 1.25% NON-CALL 248,000.00 248,000.00 1.250%6,217.22 254,217.22 733 3/2812013 CD WASHINGTON FEDERAL SAVINGS 1.0% CALL 249,000.00 248,253.00 1.000%13,197.00 261,450.00 1,826 4/512013 CD BOSTON PRIVATE BANK &TRUST .95% CALL 248.000.00 247,008.00 1.032%12,765.55 259,773.55 1,825 4/1812013 CD FIRST STATE BANK NE .95% CALL 249,000.00 248,502.00 0.991%12,325.50 260,827.50 1,826 4/3012013 CD FOREST COMMERCIAL BANK .90% CALL 249,000.00 248,253.00 0.960%11,952.00 260,205.00 1,826 5/29/2015 CD COMPASS BANK BIRMINGHAM NON-CALL 248,000.00 248.000.00 1.300%9,672.00 257,672.00 1,096 6/412015 CD MEDALLION BANK SALT LAKE 1.25 % NON-CALL 249,000.00 249,000.00 1.250%9,337.50 258,337.50 1,096 6/1512016 CD AMERICA'S CREDIT UNION 1.10%248.000.00 248,000.00 1.100%5,456.00 253,456.00 730 8/2512016 CD BMO HARRIS BANK 1.10%248,000.00 248,000.00 1.100%5,456.00 253,456.00 729 1/2012016 CD KEY BANK NATL ASSN OHIO 1.55%247,000.00 247,000.00 1.550%11,528.04 258,528.04 1.098 7/1512015 CD CAPTIAL ONE 1.95% NON-CALL 249,000.00 249.000.00 1.950%19,422.00 268,422.00 1,461 7/2412014 CD AMERICAN EXPRESS BANK 2.00%247,000.00 247,000.00 2.000%24.700.00 271,700.00 1,826 8/2812014 CD ENERBANK USA 2.05%247,000.00 247,000.00 2.050%25,317.50 272,317,50 1,826 8/2912014 CD SYNCHRONY BANK 2.1%247,000.00 247,000.00 2.100%25,935.00 272,935.00 1,826 8/3012016 CD WASHINGTON TRUST 1.2%248,000.00 248,000.00 1.200%8,928.00 256,928.00 1,095 9/16/2016 CD ISRAEL DISCOUNT BK OF NY 1.3%248.000.00 248,000.00 1.300%9,689.91 257,689.91 1.095 9/2412014 CD DISCOVER 2.15%247,000.00 247,000.00 2.150%26,552.50 273,552.50 1,826 9/2412014 CD GOLDMAN SACHS BANK 2.15%247,000.00 247,000.00 2.150%26,552.50 273,552,50 1,826 10/8/2014 CD CAPITAL ONE ABANK USA 2.10%247.000.00 247,000.00 2.100%25,935.00 272,935.00 1,826 10/1012014 CD GE CAPITAL BANK 2.0%247.000.00 245,641.50 2.000%26,058.50 271,700.00 1.826 10/2912014 CD PEOPLES UTD BANK CT 1.9%247,000,00 247,000.00 1.900%23,465.00 270,465.00 1,826 111312014 CD WEBSTER BANK NAT'L ASSOC 1.9%247.000.00 247,000.00 1.900%23,465.00 270,465.00 1.827 12/3/2014 CD CIT BANK SALT LAKE CITY 2.2%247,000.00 247,000.00 2.200%27,170.00 274,170.00 1,826 12/412014 CD AMERICAN EXPRESS CENTURION 2.2%247,000,00 247,000.00 2.200%27,170.00 274,170.00 1,826 12/1012014 CD BMW BANK OF N AMERICA 2.15%247.000.00 247,000.00 2.150%26,552.50 273,552.50 1,826 12/2312014 CD SALLIE MAE BANK SALT LAKE 2.2%247.000.00 247,000.00 2.200%26,976.46 273,976.46 1.813 1/2312015 CD PRIVATE BANK & TRUST 1.90%247,000,00 247,000.00 1.900%23,465.00 270,465.00 1.826 7/2412015 CD EAGLE BANK 1.80%249.000.00 249,000.00 1.800%20,169.00 269,169.00 1.645 1/2712015 CD NORTHFIELD BANK 1.65%249,00000 249,000.00 1.650%20,542.50 269.542.50 1,826 1/3012015 CD BANK OF GEORGETOWN 1.65%249.000.00 249.000.00 1.650%20,542.50 269,542.50 1.826 Item #1 May 9, 2017 Page 17 of 23 INVESTMENT REPORT AS OF MARCH 31, 2017 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Dust 2/6/2015 CD MACHIAS SAVINGS BANK 1.65%247,000.00 247,000.00 1.650%20,377.50 267,377.50 1,826 313/2015 CD THIRD FEDERAL SAVING & LOAN 1.75%247,000.00 246,407.20 1.754%22,146.09 268,553.29 1,821 3125/2015 CD WELLS FARGO BANK SIOUX FALLS 1.5%247,000.00 247,000.00 1.500%18,525.00 265,525.00 1,827 412212015 CD MARLIN BUSINESS BANK SALT LAKE 1.6%247,000.00 247,000.00 1.600%19,760.00 266,760.00 1,827 5113/2015 CD WORLD FOREMOST BANK SYDNEY 2.00%200,000.00 200,000.00 2000%20,000.00 220,000.00 1,827 6129/2015 CD FIRST SOURCE BANK 1.85%247,000.00 246,382.50 1.904%23,465.00 269,847.50 1,827 7131/2015 CD INSTITUTION FOR SAVINGS 2.05%249,000.00 249,000.00 2.050%25,522.50 274,522.50 1,827 8/6/2015 CD ORRSTOWN BANK 2.0%249,000.00 249,000.00 2000%24,706.33 273,706.33 1,841 8/11/2015 CD INVESTOR BANK 2.0%247,000.00 247,000.00 2000%24,700.00 271,700.00 1,841 9110/2015 CD MERRICK BANK 1.85%249,000.00 248,377.50 1.910%23,655.00 272,032.50 1,827 9/22/2015 CD BARCLAYS BANK 2.2%248,000.00 248,000.00 2200%27,190.31 275,190.31 1,821 10119/2015 CD COMENITY CAP BANK 2.0%249,000.00 249,000.00 2.000%24,818.14 273,818.14 1,821 1/1512016 CD INVESTORS CMNTY BANK 1.85%249,000.00 249,000.00 1.850%23,032.50 272,032.50 1,827 611012016 CD UBS BANK USA SALT LAKE CITY 1.65%249,000.00 249,000.00 1.650%20,508.73 269,508.73 1,823 6/23/2016 CD EAST BOSTON SAVING BANK 1.5%248,000.00 248,006.00 1.500%18,600.00 266,600.00 1,826 6/24/2016 CD FIRST BUS NESS BK MADISON 1.5%248,000.00 248,000.00 1.500%18,600.00 266,600.00 1,826 6/30/2016 CD FIRST TECHNOLOGY FEDERAL CR UNION 1.75%248,000.00 248,000.00 1.750%21,700.00 269,700.00 1,826 SUB-TOTAL 15,291,000.00 15.280,537.40 1.599%1,133,213.43 16,413,750.83 1,645 0 WELLS FARGO BANK 330,256.00 330,256.00 0115%1.04 330,257.04 1 0 CORPORATE CASH MANAGEMENT ACCOUNT 3,069,073.16 3,069,073.16 0115%9.67 3,069,082.83 1 0 LIBRARY ACCOUNT 304.41 304.41 0.000%304.41 1 0 UNION TRUST 3,148,239.02 3.148,239.02 0000%0.01 3.148.239.03 1 O LAIF WATER DISTRICT 22,474,000.00 22.474,000.00 0.780%486.94 22,474,486.94 1 LAIF PUBLIC IMPROVEMENT CORPORATION 22,692,000.00 22,692,000.00 0.780%491.66 22,692,491.66 1 LAIF PUBLIC FINANCING CORPORAT ON 24,673,000.00 24,673,000.00 0780%534.58 24,673,534.58 1 LAIF CITY OF CARLSBAD 22,315,000.00 22,315,000.00 0780%483.49 22,315,483.49 1 SUB-TOTAL 98,701,872.59 98,701,872.59 0.732%2,007.39 98,703,879.98 GRAND TOTAL 695,968,872.59 699,587,052.12 1.2991%33.782,614.90 733,369,667.02 Item #1 May 9, 2017 Page 18 of 23 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF MARCH 31, 2017 Cash Balance by Fund: General 111,489,263 Special Revenue 26,913,802 Capital Projects: General Capital Construction 37,798,410 Traffic Impact Fees 18,584,141 Public Facilities Fees 26,720,129 Park Development 9,868,843 Transnet Taxes 5,340,144 Drainage Fees 6,626,729 Special Districts 96,461,690 Infrastructure Replacement 99,853,807 Other Capital Construction 16,629,855 317,883,747 Total Enterprise: Carlsbad Municipal Water District 119,185,402 Sewer Fund 48,190,258 Solid Waste 7,241,664 Storm Water 6,026,924 Golf Course 1,038,813 Total 181,683,060 Internal Service 45,075,807 Agency Funds 16,585,413 Trust Funds 236,534 Total General Ledger Balance **699,867,625 Reconciling Adjustments (1)(2,287,289) Total Treasurer's Investment Portfolio at Amortized Cost 697,580,337 (1) The Reconciling Adjustments consist of differences between the General Ledger which is prepared on an accrual basis and the Treasurers 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 4/10/17 Item #1 May 9, 2017 Page 19 of 23 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of MARCH 31, 2017 CORPORATE NOTE AND COMMERCIAL PAPER RATINGS Corporate Note Investments Meeting the Current Investment Policy: (Ratings must be AA or better by two of the three:Moody's S&P or Fitch) Moody's S&P Fitch ADP AA3 AA NR ALPHABET, INC AA2 AA NR APPLE AA1 AA+NR BERKSHIRE HATAWAY AA2 AA+A+ CHEVRON AA2 AA-NR COCA COLA AA3 AA-A+ COLGATE-PALMOLIVE AA3 AA-AA- EXXON MOBIL AAA AA+NR IBM CORP AA3 AA-A+ JOHNSON & JOHNSON AAA AAA AAA MASS MUTUAL GLOBAL AA2 AA+AA+ MICROSOFT AAA AAA AA+ NEW YORK LIFE AAA AA+AAA PRIVATE EXPORT FUNDING (PEFCO)AAA NR AAA ROYAL BANK OF CANADA AAA AAA AAA TOYOTA AA3 AA-A WAL-MART AA2 AA AA Commercial Paper Investments Meeting the Current Investment Policy: (Ratings must be Al/P1 or better by two of the three:Moody's, S&P or Fitch) (Ratings of other debt must be AA or better by two of the three:Moody's, S&P or Fitch) NONE Investments with Subsequent Changes in Credit Rating * Latest Carrying Market Moody's S&P Fitch Maturity Date Value Value HSBC BANK USA Al AA+NR 06/05/2017 5,000,000 4,920,000 3M COMPANY Al AA-NR 08/07/2020 3,538,147 3,523,170 •The City's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy.All of these investments are paying interest at the required times.The principal of all investments are considered secure.It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. Item #1 May 9, 2017 Page 20 of 23 EXHIBIT 10 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF MARCH 31, 2017 WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER Investment Cost Percent of Portfolio* ADP 4,029,600.00 0.58% ALPHABET, INC 1,094,000.00 0.16% APPLE INC 8,575,865.00 1.23% BERKSHIRE HATHAWAY 5,019,345.05 0.72% CHEVRON 13,865,384.00 1.98% COCA COLA CO 8,073,352.17 1.15% COLGATE-PALMOLIVE 5,459,050.00 0.78% EXXON MOBIL 11,397,154.99 1.63% HSBC BANK USA 5,000,000.00 0.71% IBM CORP 7,730,433.50 1.10% JOHNSON & JOHNSON 7,443,878.49 1.06% MASS MUTUAL 6,842,020.01 0.98% MICROSOFT 16,538,680.00 2.36% 3M COMPANY 3,554,215.00 0.51% NEW YORK LIFE 7,736,502.75 1.11% PEFCO 8,244,462.90 1.18% ROYAL BANK OF CANADA 3,566,040.08 0.51% TOYOTA 7,055,840.00 1.01% WAL-MART 13,511,314.19 1.93% PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER Investment Cost Percent of Portfolio** FAMCA 20,807,601.00 2.97% FICO 8,733,759.39 1.25% FEDERAL FARM CREDIT BANK 60,418,480.43 8.64% FEDERAL HOME LOAN BANK 79,089,276.04 11.31% FEDERAL HOME LOAN MORTGAGE CORP 54,794,893.00 7.83% FEDERAL NATIONAL MORTGAGE ASSOC 87,123,694.18 12.45% RFCO STRIP PRINCIPAL 2,750,760.00 0.39% TENNESSEE VALLEY AUTHORITY 3,866,885.00 0.55% U.S.TREASURY 123,282,154.97 17.62% Total Portfolio $699,587,052.13 *tikiffortilhan 5% may be invested with a single corporate issuer.May 9, 2017 Page 21 of 23 **There are no percentage limits on federal agency issuers. City of Carlsbad Bond Proceeds Investment Report March 31, 2017 Stated Int.Maturity Fund Type Investments Rate Date Par Value Cost Source Assessment District 03.01 (CollegelCannon)Fiscal Agent:BNY Mellon Project Fund Invesco Gov.&Agency -Institutional Money Market NIA NIA $933,843 $933,843 Invesco Re-Assessment District 97.01 (Alga Road & College Blvd)Fiscal Agent:US Bank Imprvmnt Fund -Alga Invesco Gov. & Agency -Institutional Money Market N/A NIA $280,155 $280,155 Invesco Assessment District 95.01 (Carlsbad Ranch)Fiscal Agent:BNY Mellon Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC)5.83%NIA $1,116,590 $1,116.590 HSBC Bank of New York Assessment District 96.01 (Rancho Carrillo)Fiscal Agent:BNY Mellon Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC)6.03%09102/28 $1,292,770 $1,292,770 HSBC Bank of New York ReAssessment District 2012.1 (CollegelCannon & Poinsettia Lane)Fiscal Agent:BNY Mellon Reserve Fund Invesco Gov. & Agency -Institutional Money Market various N/A $2,176,663 $2,176,663 BNY Mellon Other Invesco Gov. & Agency -Institutional Money Market various N/A $14 $14 BNY Mellon Communities Facilities District #3 Improvement Area 1,2016 Bonds Fiscal Agent:BNY Mellon Reserve Fund Invesco Gov. & Agency -Institutional Money Market various 09/01/36 $547,863 $547,863 BNY Mellon Cost of Issuance Invesco Gov. & Agency -Institutional Money Market various 09/01/36 $612 $612 BNY Mellon Communities Facilities District #3 Improvement Area 2, 2016 Bonds Fiscal Agent:BNY Mellon Escrow Fund Invesco Gov.&Agency -Institutional Money Market various 09101/18 $13,593,827 $13,593,827 BNY Mellon Reserve Fund Invesco Gov.&Agency -Institutional Money Market various 09/01/38 $810,809 $810,809 BNY Mellon Cost of Issuance Invesco Gov. & Agency -Institutional Money Market various 09/01/38 $1,175 $1,175 BNY Mellon $20,754,321 $20,754,321 td r4d Fltong Term DebtlQuarierly Investment Reportslthr Inv Rpt (FY 16-17 onward) Item #1 May 9, 2017 Page 22 of 23 City of Carlsbad Summary of Outstanding Housing Loans As of March 31,2017 Loan amount Loans Issued by City to Loans issued by due to Cny Developer loan First date 0 of loans developers;Developer to 0 of loans Crty loan repaid Developer loan irecorded as amount due to City Borrower Development Purpose issued issued homeowners homeowners outstanding to City repaid to City SRI (not on City's books)Type of Loan Payment deferred 15years No nteres: is dueIndividLai hcmeodyrs City-wide (CHAP)Sale 06/28'99 133 51.680,000 5 •4 (51,680.000)5 -(50.08)5 -(0)Lnless home is so d befom 161n yea' Payment delved 30 years No intares:i due Individual homeouyers Calavera His Sale 16'15199 5 75 OCC 150,00C 1 (60:000)1'20,000)'5,000 30.000 45,000 unless home s sold before 3'0 yea' Paymel deferred 30 years No intsest is cue Individual hcmeouyers Cierry Tree 'Salk Sale 06/28/99 42 453,606 452,600 12 (324,000)(283,250)129,600 '69,350 298.950 uniess home is sae befom 3'11.year Payment deterred 30 years No intems:is cue Individual hcmeouyers Serrano Sale 05/25/01 90 1,350,000 4,050,000 23 (1620,135);2,745,000;329.865 1,305,000 1,634,865 Lnless home is so 3 hefom 3dth yea' IndividLal hcmeNyel Ranchc Carlsbad Sale 05/20/99 22 752,533 •5 1592,606)•159.887 159.887 Pf nclpal is due when horre 5 El Indivaual horrebuyers Salaries Sale 09/26188 9 147 726 -1 ('35.065)'2,661 -12,661 5nncipallsae wren home s sod Ca1holic Charities Homeless shelter She ter 09/9/97 1 200 OCC -1 -200,000 -200,000 Principal is dJe wier properly is sc d Principal and 3'.0':interest ern year 'or 30 yews CO Laurel Tree ApartrN Ladrel -see Rentals 12124(98 2 1,134,00C -2 (1.134,000)•(0)•;0)Whorl amplus cash avadaole Principal and 3% interest earn year 'or 55 yea'sUSA Propedies So CFF Rancho Carrillo Rentals 03/05101 1 1,157,584 -1 (69,016)-1,088,568 -1,088,568 when Edrplus oast Isavailaole Pr papal ana 34 interest each year 'or 55 yeasPactVisaLas Flares Vista Las Flores Rentals 02(27/01 1 363 948 •1 ••363:908 •363,908 when s.irp•AJs cash is aveiohe Principe and 2%items: earl year for 55 yeas Poinsettia Housing Ass: Poinsettia Slaticir Rentals 10.121.199 1 92C OCD -1 (458,964)•461.036 .461,036 when surplus cashis avalable Principal and 3% 'items: non year 'or 15 yeasBddge housing Carp Vilia Loma Rentals 11104/94 2 2,212 000 -C 2,212.000)-when 51f5135 cash is available Principal and 5% Interest earn year 'or 55 yeas Dove Famiy -lousing La Costa Paloma Rentals 07/15/03 1 2,070.000 -1 (2.070.000)-(0)-(0)when sirplus cash3 availKle FArcloa and 3%Itemst each year for 55 yearsCIO Calavera LP Mariposa Apts Rertals 09115104 '1 062.020 -1 .-1,060,000 -1,060,000 when sup Js COSn3 2V3hat e Mu berry a:Paymert deferred 20 years.No iterest is dieIndividJal horrebuyers Bressi Ranch Sale 04)29105 100 1 84C OCD 19,660,20C 100 --1,840.000 19.660,20C 21,500,200 urless norne s scld before 31th year Payment deferred 50 years.Nc nterest is doeIndividJal horrebuyers Village oy the Sea Sale 101.28r05 11 22C OD°4.087:20C 11 --220.000 4.087,200 4,307,200 urless Ione s sold before 51th year Principal and 5% mares:earl year 'or 55 peas El Camino Family Horn. Cassia Heights Rer:als 03.67/66 1 :.454,276 -1 -1,450,276 -1,454,276 when soro Js cash s Vadat e Paymer: aVerec 05 years No nterest AOA Ind vidual hornebuyers Laguna Point Sale 07:0616€3 210.020 2 (70,00C)'40.000 -100.000 urless norm ::sold beam 00th year Faymert deferred 30 years.No nteresi is dIe Individual homebuyers The Bluffs Sale 06114107 IC 2C0 ODD 10 •200,000 •200,000 orless nome s scld before 31th year Roosevelt Refer or Agenca 8:1119 5.99 1 ResolJtion 2206.131 & Individdal homebuyers Gardens Sale 08132107 11 1,583,423 11 1,583,423 •1,583,423 AB 19 053;0507-285 DID La Costa Hurter's Point Rentals 08119125 1 '.932.000 •1 .-1.932,000 -1.932,000 Reir 7) AB16 25'(Resc JtIon 2C05-204 Down Payment & Closing Cost .Assistance Various Assistance 0812E69 22 255:518 21 (12,50C)-243,018 -203:018 Refor:0 Agenda BO 19.4'5 (R.esAJticn 2101-12' CIC Glen Ridge,LP Glen Ridge Rentals 10/05i09 1 1,210,200 •1,014,000 -1,014,000 ;els to Agenda 811390 )R.escl.ito-435 Taverua •Sericr Apadmerts, La Tavarua Renter 12)14)11 1 '-Role'to Agenda 011418 f Peso 3000 405 North Corn Solutions Property cos Change Acquisition Renta s C6/28/12 1 780,000 -'•780.000 •780,000 Ref e' to Agenda Bill 20.;35iResolut.on 2012-135 0010' 'A 009.151102409-058,AB29,15016511. Catholic Charities I-cmeass she ter Sheller 03.01110 3 507,585 •3 507,585 507,565 PEI.A820 7A4/R2011-288 Minor Individuai homeowners N/A home 0520110 '0 22,877 •5 (2,083)-20.794 -20.794 7sefe-to AE'9.415 i Resoloor 2005-'21Property Hospice of Nodn Coast firA.AcquisHio 2127113 1 1,265,200 •..1,065,000 -1,065,000 Refs to AS21 d 1615 0 so1u1 on 2513-020 Harding Street Carol-Harding Acqu.sido Neighbors LP Duplex n 03/' 01'3 1 7,408,000 •1 -7,408,00C -7,408,000 Refer to AE21.026'Resolution 2012.235 Tracy Terro eicn Laguna Point Sale 041'7113 1 '08,150 •1 -108,150 -108.150 -BD payment deferred 30 yea's No interest a dLeThomas&Judy Kim Rase Bay Sale 08/2113 1 229,775 4 -229.775 -226,775 un ass Noss is sole before 31th year Proper). So utions for Change N/A Acquisitio 12119r10 1 2,646,200 .2,646,000 •2,646,000 Refs Te0021 053/Resold on 2J1L243 CorprQuarri Creek CiC LLP Quamy Creek Rentals 08/3156 1 1,280,000 1 1,280,000 -1:280,000 tllAllowances(1,593,379)(1,593,379) 422 $30,739.616 5 28,400.000 228 S (9,840.409)$13,14825C)$24,899.207 $25 251 752 $51,744.336 Z January 2017: received a 014.831 payment related tohe Rancho Carrillo development Hli HN) Item #1 May 9, 2017 Page 23 of 23