HomeMy WebLinkAbout2017-08-15; City Council; ; Approve: Report on City Investments as of June 30 2017Page 1
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CITY CO U NC IL
Staff Report
Meeting Date
To:
From:
August 15, 2017
Mayor and Council Members
Kevin Crawford, City Manager
CAReview lYC....
Staff Contact: Craig Lindholm, City Treasurer; Nancy Sullivan, Deputy City Treasurer
Nancy.Sullivan@carlsbadca.gov or 760-602-2473
Subject Approve: Report on City Investments as of June 30, 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 separat ely. The city's pooled investment
portfolio as of the month ended June 30, 2017 is summarized below.
I Pooled Investment Portfolio (Cash and Securities}
Current M onth Prior Month
Par Value 720,912,625 727,383,954
Cost of Investments 724,365,698 730,819,997
Amortized Cost (1) 722,577,923 729,117,790
Market Value (2) 720,280,916 727,963,844
(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 06/30/17.
The equity portion of the various funds in the total portfolio is summarized in the graph on
the next page. Fund balances are restricted for various purposes. See Exhibit 8 for a more
detailed breakdown.
The $7 million dollar decrease between the May and June 2017 report was due mainly to the $9
million dollar payment to Cal PERS to pay a portion of the unfunded liability as presented in the
FY2017-18 operational budget.
I
Page 2
Report on City Investments June 301 2017
Meeting Dote: August 151 2017
Page2
Cash Income Fiscal
Year-to-Date *
FUND EQUlTY JN POOLED INVESTMENTS
(Dollar Amounts in Millions)
General $113
Internal Service $46
Agencyffrust Sl 9
Enterprise SlSS
Special Revenue
$28
Capital Projects
$332
Total Treasurer's Investment Portfolio atAmortiud Cost
June 30, 2017 $723 million
Pooled Investment Interest Income
Current Prior
9,286,187 8,567,839
Current Month
718,348
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life Average Yield
(Years) To Maturity Modified Duration
April 2017 2.01 1.329% 1.932
May 2017 1.96 1.333% 1.891
June 2017 2.02 1.393% 1.942
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.
Page 3
Report on City Investments June 30, 2017
Meeting Date: August 15, 2017
Page3
Investment Portfolio for Bond Proceeds
Par Value
Cost
Fiscal Analysis
None
Next Steps
Current Quarter
7,168,312
7,168,312
The Report on City Investments is produced monthly by the City Treasurer.
Environmental Evaluation (CEQA)
Prior Quarter
20,754,321
20,754,321
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 viewing
at least 72 hours prior to the posting of the agenda.
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. Fourth Quarter Transactions
7. Detailed Investment Report
8. Fund Equity in Pooled Investments
9. Corporate Note and Commercial Paper Ratings
10. Percentage Weightings By Corporate Note Issuer
Exhibit for Investments of Bond Proceeds Held Separately:
11. Detailed Investment Report -Quarterly Report
Exhibit for Summary of outstanding Housing Loans:
12. Detail Of Outstanding Housing Loans -Quarterly Report
Page 4CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JUNE 30, 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 15,575,472 15,079,310 15,613,005 15,117,723 238,771 1.62 1.61
FN 18,487,130 18,462,790 18,422,292 18,422,678 0 1.60 1.60
TR 125,992,488 121,997,138 125,902,867 122,211,751 1,197,869 1.42 1.42
FA 327,874,291 305,986,775 326,197,984 304,903,503 3,820,787 1.43 1.35
CN 135,480,916 146,871,823 134,977,144 146,588,234 3,332,250 1.60 1.55
LAIF 94,506,000 116,052,000 94,506,000 116,052,000 694,138 0.93 0.90
CUSTODY 178,221 412 178,221 412 1,310 0.00 0.00
SWEEP 4,028,751 3,990,325 4,028,751 3,990,325 1,063 0.08 0.06
BANK ACCT 454,652 677,216 454,652 677,216 0 0.08 0.06
TOTALS 722,577,923 $729,117,790 $720,280,916 $727,963,844 9,286,187 1.39% 1.33%
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:rj
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Page 5CLASS
CD
FN
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANK ACCT
TOTALS
%TOTALS
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JUNE 30, 2017
BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME
WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR 1 TO SYEARS TOTAL
1,489,332 3,475,024 10,603,809 15,568,164
0 0 15,198,717 15,198,717
19,093,008 9,326,658 97,706,407 126,126,073
34,767,885 35,655,751 261,073,275 331,496,910
1,276,598 25,407,375 110,124,236 136,808,208
94,506,000 0 0 94,506,000
178,221 0 0 178,221
4,028,751 0 0 4,028,751
454,652 0 0 454,652
$155,794,447 (1) $73,864,808 (1) $494,706,443 $724,365,698
21.5% 10.2% 68.3% 100.0%
Total within One Year $229,659,255 (1)
POLICY:
31.7%
(1) Not less than $168,954,000 to mature within one year. (2/3rds of current year operating budget of $253,430,000.00)
(2) Policy states that not more than 30% of portfolio is to be invested in corporate notes.
%TOTAL
2.1%
2.1%
17.4%
45.8%
18.9% (2)
13.1%
0.0%
0.6%
0.1%
100.0%
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Page 62.,70
2 .. 60 2.50 2 .. 40
2.30 2 .. 20 2.10
2.00
1.90
1 .. 80
1.70
1.60 1 .. 50 1.40
1.30 1.20 1.10 1.00 0.90
0.80
0.70 0.60
0.50
0.40 0.30 0.20
0.10 0.00
YIELD COMPARISON
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PORTFOLIO EX-LAIF VS. LAIF
IDLY 2010-JUNE 2017
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Page 7MARKET YIELD CURVE
6/30/15, 6/30/16, 6/30/17
3.5 Market Rates
3
2.: I
1.5 II ----
1
I ----------·----=->-~ ~----------------__ · ~.-----·
0.5 I ___. ~ .....
0
3 Mth 2Yr 5 Yr 10 Yr
3Mth 2Yr 5Yr lO Yr
-a-6/30/2015 .01 .65 1.65 2.35
_._ 6/30/2016 .26 .58 1.00 1.47
_., -6/30/2017 1.01 1.38 1.88 2.30
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Page 8Cumulative Cash Income
FY16-17
Cumulative
Millions$ (June 2017)
Monthly Interest Income
Millions$
10
9
8
7
6
5
4
3
2
1
0
8
7
6
5
1-----------~---'-----------------+--4
0.98 0.72
3
2
1
f-'---____.___.____........,....._______.___,_.____._,__.___.......,......._______.__,........___~_______._.....,.........__......,.._...........,...~...,...........--0
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
I· c:::Jlnterest Income -+--Budget ---Actual YTD I
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Page 9TRANSACTIONS FOR PERIOD:
04/01/17 TO 06/30/17 4th QUARTER 2016-2017
Trans Investment Maturity Call Par Amount Return Investment
Date Date Date IYQg Security Date Value Cou~on (Cost) Rate Interest Return
BUYS
APRIL
04111117 04112117 12110121 FA FHLB NIA 2,000,000.00 1.875% 2,003,620.00 1.834% 171,171.67 2,174,791.67
04111117 04117117 05119121 CN ALPHABET INC NIA 2,000,000.00 3.625% 2,136,700.00 1.883% 159,744.44 2,296,444.44
04121117 04124117 02101119 FN FNMA PRIN STRIP NIA 500,000.00 0.000% 487,450.00 1.442% 12,550.00 500,000.00
04111117 04127117 07127120 FA FHLMC 412712018 1,600,000.00 1.700% 1,600,000.00 1.700% 88,400.00 1,688,400.00
04125117 04126117 01117120 FA FHLMC NIA 1,250,000.00 1.500% 1,251,150.00 1.465% 49,943.75 1,301,093.75
04125117 04126117 10116120 FA FNMA PRIN STRIP 1011612017 1,300,000.00 2.350% 1,332,019.00 1.618% 74,057.39 1,406,076.39
04111117 04127117 04127122 FA FHLMC 412712018 3,500,000.00 2.625% 3,545,920.00 2.345% 413,455.00 3,959,375.00
04113117 04127117 04127122 FA FHLMC 1012712017 1,180,000.00 1.75% STEP 1,180,000.00 2.625% 154,875.00 1,334,875.00
MAY
05101117 05104117 05119121 CN ALPHABET INC NIA 2,000,000.00 3.625% 2,133,400.00 1.900% 159,620.83 2,293,020.83
05104117 05105117 07115118 CN PEFCO NIA 1,251,000.00 1.875% 1,260,294.93 1.240% 18,722.26 1,279,017.19
05108117 05109117 03131121 TR US TREASURY NIA 1,400,000.00 1.250% 1,374,786.00 1.730% 93,349.25 1,468,135.25
05108117 05115117 05115122 TR US TREASURY NIA 2,000,000.00 1.750% 1,985,625.00 1.901% 189,375.00 2,175,000.00
05118117 05119117 09130121 TR US TREASURY NIA 1,500,000.00 1.125% 1,464,375.00 1.691% 109,303.28 1,573,678.28
05118117 05119117 12127119 FA FNMA PRIN STRIP 612712017 2,500,000.00 1.200% 2,482,475.00 1.475% 95,691.67 2,578,166.67
04125117 05122117 05122120 FA FHLMC 512212018 1,200,000.00 1.625% 1,200,000.00 1.625% 58,500.00 1,258,500.00
05118117 05122117 10127121 FA FFCB 1012712017 1,800,000.00 2.400% 1,808,460.00 2.288% 182,940.00 1,991,400.00
05118117 05123117 05111122 CN APPLE INC NIA 3,300,000.00 2.300% 3,318,150.00 2.181% 358,820.00 3,676,970.00
05124117 05125117 04105122 FA FNMA PRIN STRIP NIA 1,600,000.00 1.875% 1,600,581.01 1.867% 145,252.32 1,745,833.33
05124117 05130117 05129120 FA FHLMC 512912019 2,250,000.00 1.625% 2,255,062.50 1.548% 104,523.44 2,359,585.94
JUNE
05118117 06105117 06105120 FA FHLB 121512017 2,500,000.00 1.600% 2,500,000.00 1.600% 120,000.00 2,620,000.00
05118117 06105117 06105120 FA FHLB 121512017 1,300,000.00 1.600% 1,300,000.00 1.600% 62,400.00 1,362,400.00
06106117 06107117 07131120 TR US TREASURY NIA 2,000,000.00 1.625% 2,011,320.00 1.440% 91,028.07 2,102,348.07
06106117 04130118 06107117 TR US TREASURY NIA 2,000,000.00 0.625% 1,990,312.50 1.169% 20,896.74 2,011,209.24
05124117 06107117 06107122 CD MERCANTILE BANK NIA 247,000.00 2.100% 247,000.00 2.100% 25,935.00 272,935.00
06106117 06108117 06108120 FA FHLMC 121812017 2,550,000.00 1.25% STEP 2,549,490.00 2.021% 155,103.75 2,704,593.75
06112117 06113117 08101118 FA FAMCA NIA 1,000,000.00 1.120% 998,290.00 1.272% 14,403.33 1,012,693.33
06114117 06115117 06114121 FA FFCB 611412018 1,760,000.00 1.810% 1,760,000.00 1.810% 127,335.51 1,887,335.51
05124117 06115117 06115121 FA FHLMC 611512018 1,400,000.00 1.800% 1,400,000.00 1.800% 100,800.00 1,500,800.00
06115117 06116117 11130120 FA FNMA NIA 1,100,000.00 2.000% 1,113,618.00 1.630% 62,404.22 1,176,022.22
06108117 06122117 06122122 FA FHLMC 1212212017 875,000.00 2% STEP 875,000.00 2.175% 95,156.25 970,156.25
06108117 06122117 06122121 CD LAKESIDE BANK NIA 249,000.00 1.900% 249,000.00 1.900% 18,924.00 267,924.00 ti::l 06126117 06127117 05129120 FA FHLMC 512912019 1,600,000.00 1.625% 1,604,000.00 1.537% 71,977.78 1,675,977.78 :><:
06108117 06129117 06129122 FA FHLMC 912912017 2,500,000.00 2.150% 2,500,000.00 2.150% 268,750.00 2,768,750.00 lil
H 06122117 06129117 12129120 CN TOYOTA 612912020 3,000,000.00 2.000% 3,000,000.00 2.000% 210,000.00 3,210,000.00 tcJ
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TOTAL FOURTH QUARTER 2016-2017 58,212,000.00 58,518,098.94 1.815% 4,085,409.95 62,603,508.89 t-3
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Page 10TRANSACTIONS FOR PERIOD:
04/01/17 TO 06/30/17 4th QUARTER 2016-2017
Trans Investment Maturity Call Par Amount Return Investment
Date Date Date !YQg Security Date Value Cou(;!on (Cost) Rate Interest Return
MAtURITIES
APRIL
04/18/12 04/05/17 CN WAL-MART STORE! N/A 3,000,000.00 5.375% 3,568,354.19 1.400% 229,833.31 3,798,187.50
06/26/15 04/27/17 FA FNMA N/A 1,250,000.00 0.700% 1,260,975.00 0.643% 14,845.31 1,275,820.31
09/19/14 04/30/17 TR US TREASURY N/A 3,000,000.00 0.875% 2,996,484.38 0.920% 72,136.54 3,068,620.92
07/21/15 04/30/17 TR US TREASURY NIA 2,000,000.00 0.500% 1,995,000.00 0.642% 22,771.74 2,017,771.74
MAY
09/06/13 05/08/17 FA FHLMC 5/8/2015 5,000,000.00 0.700% 4,855,000.00 1.515% 273,527.78 5,128,527.78
01/27/15 05/12/17 FA FHLMC N/A 2,000,000.00 1.250% 2,025,640.00 0.685% 31,651.67 2,057,291.67
09/19/14 05/31/17 TR US TREASURY N/A 1,000,000.00 0.625% 991,015.63 0.963% 25,838.88 1,016,854.51
04/09/15 05/15/17 CN NY LIFE GLOBAL N/A 1,675,000.00 1.650% 1,704,362.75 0.806% 28,676.00 1,733,038.75
JUNE
08/16/12 06/16/17 FA FHLB N/A 4,000,000.00 0.875% 4,000,000.00 0.875% 169,166.67 4,169,166.67
06/05/12 06/05/17 CM HSBC BANK USA N/A 5,000,000.00 1.925% 5,000,000.00 1.037% 342,500.00 5,342,500.00
TOTAL FOURTH QUARTER 2016-2017 27,925,000.00 24,828,477.76 0.991% 981,114.59 25,809,592.35
CALLS
APRIL
02/27/13 03/04/13 01/29/18 CD GATEWAY BANK 4/28/2017 209,000.00 0.950% 208,373.00 1.070% 10,367.28 218,740.28
MAY
05/01/15 05/26/15 05/26/20 FA FNMA 5/26/2017 3,000,000.00 1.700% 3,000,000.00 1.700% 255,000.00 3,255,000.00
12/21/15 12/30/15 12/30/19 FA FFCB 5/25/2017 2,600,000.00 1.720% 2,600,000.00 1.720% 178,880.00 2,778,880.00
JUNE
NONE
TOTAL FOURTH QUARTER 2016-2017 5,809,000.00 5,808,373.00 1.686% 444,247.28 6,252,620.28
Page 11INVESTMENT REPORT
AS OF JUNE 30, 2017
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days}
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% QRTL Y CALL 3,000,000.00 3,000,000.00 0.700% 36,750.00 3,036,750.00 639
11/20/2013 FA FFCB .700% CALL 11/26/13 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% NON-CALL 2,000,000.00 2,004,800.00 0.622% 23,491.67 2,028,291.67 689
12/29/2015 FA FHLB .75% NON-CALL 1,000,000.00 995,550.00 1.020% 16,929.17 1,012,479.17 608
4/26/2016 FA FHLB .75% NON-CALL 2,700,000.00 2,700,000.00 0.750% 27,112.50 2,727,112.50 489
4/26/2016 FA FNMA 1.0% NON-CALL 2,096,000.00 2,102,707.20 0.770% 22,636.80 2,125,344.00 512
3/26/2014 FA FHLB 1.05% CALL 9/26/14 ONE TIME STEP 2,000,000.00 2,000,000.00 1.050% 73,500.00 2,073,500.00 1,280
1/23/2014 FA FFCB 1.160% NON-CALL 2,000,000.00 1,995,000.00 1.229% 92,000.00 2,087,000.00 1,369
2/19/2013 FA FFCB .87% CALL 11/27/13 CONT 2,000,000.00 1,985,000.00 1.030% 98,036.67 2,083,036.67 1,742
5/28/2013 FA FHLMC .75% CALL 5/28/15 ONE TIME 5,000,000.00 5,000,000.00 0.750% 168,750.00 5,168,750.00 1,645
3/6/2013 FA FNMA 1.0% CALL 3/6/15 ONE TIME 3,050,000.00 3,050,000.00 1.000% 144,875.00 3,194,875.00 1,736
12/3/2012 FA FHLB 2.625% NON-CALL 3,000,000.00 3,270,090.00 0.790% 124,753.75 3,394,843.75 1,831
1/22/2013 FA FHLMC .95% CALL 1/22/15 QRTL Y 3,350,000.00 3,341,826.00 1.000% 167,299.00 3,509,125.00 1,826
1/25/2013 FA FAMCA .93% NON-CALL 5,000,000.00 5,004,870.00 0.910% 227,500.83 5,232,370.83 1,825
2/1/2013 FA FAMCA 1.05% NON-CALL 5,000,000.00 5,000,000.00 1.000% 262,354.17 5,262,354.17 1,824
11/3/2015 FA FNMA .875% NON-CALL 2,700,000.00 2,700,891.00 0.860% 52,593.37 2,753,484.37 828
5/8/2013 FA FHLB1.10% CALL2/20/14CONT 1,000,000.00 1,000,774.00 1.080% 51,842.67 1,052,616.67 1,749
2/20/2015 FA FFCB 1.11 % NON-CALL 2,500,000.00 2,500,000.00 1.110% 83,250.00 2,583,250.00 1,096
7/21/2016 FA FHLB 1.375% NON-CALL 5,000,000.00 5,048,990.00 0.770% 63,301.67 5,112,291.67 596
10/26/2016 FA FFCB 0.75% NON-CALL 1,600,000.00 1,598,592.00 0.810% 19,141.33 1,617,733.33 539
8/5/2014 FA FNMA 0.875% NON-CALL 2,500,000.00 2,460,777.84 1.300% 122,225.63 2,583,003.47 1,385
5/30/2013 FA FHLB 1.050% CALL 7/4/13 CONT 3,000,000.00 2,964,750.00 1.050% 193,100.00 3,157,850.00 1,831
6/21/2016 FA FHLB 1.25% NON-CALL 4,000,000.00 4,034,280.00 0.809% 63,914.44 4,098,194.44 717
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
5/5/2017 FA PEFCO 1.875% NON-CALL 1,251,000.00 1,260,294.93 1.240% 18,722.26 1,279,017.19 436
12/29/2015 FA FNMA 1.125% NON-CALL 1,000,000.00 997,610.00 1.220% 31,171.25 1,028,781.25 934
7/27/2016 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
1/27/2015 FA FNMA 1.0% NON-CALL 1,100,000.00 1,096,139.00 1.102% 42,452.67 1,138,591.67 1,280
6/13/2017 FA FAMCA 1.12% NON-CALL 1,000,000.00 998,290.00 1.120% 14,403.33 1,012,693.33 353
5/5/2014 FA FFCB 1.6% NON-CALL 2,500,000.00 2,515,710.93 1.450% 157,622.40 2,673,333.33 1,584
10/27/2015 FA FHLB 1.125% NON-CALL 4,000,000.00 ·-4,020,840.00 0.941% 108,785.00 4,129,625.00 1,053
5/2/2014 FA FNMA 1.875% NON-CALL 1,500,000.00 1,524,000.00 1.500% 99,125.00 1,623,125.00 1,600 trj
1/16/2014 FA FHLMC 1.20% CALL 9/24/14 ONE TIME 2,250,000.00 2,196,562.50 1.729% 180,037.50 2,376,600.00 1,712 X ::c:
5/23/2016 FA FNMA 1.125% NON-CALL 2,000,000.00 2,006,660.00 0.984% 47,465.00 2,054,125.00 879 H
3/30/2015 FA FHLB 1.30% NON-CALL 1,000,000.00 1,000,000.00 1.300% 46,583.33 1,046,583.33 1,310 td
H
5/2/2014 FA FNMA 1.625% NON-CALL 2,000,000.00 2,008,347.18 1.530% 140,159.76 2,148,506.94 1,670 f-:1
6/3/2014 FA FNMA 1.625% NON-CALL 2,000,000.00 2,010,791.92 1.500% 134,826.14 2,145,618.06 1,638 -.J
7/21/2015 FA FNMA 1.50% NON-CALL 1,000,000.00 1,006,875.00 1.290% 43,500.00 1,050,375.00 1,228
5/15/2015 FA FNMA 1.25% CALL 6/14/15 QRTL Y 1,000,000.00 997,500.00 1.322% 47,256.94 1,044,756.94 1,309
Page 12INVESTMENT REPORT
AS OF JUNE 30, 2017
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
6/5/2015 FA FHLB 1.75% NON-CALL 2,000,000.00 2,034,100.00 1.254% 16,625.00 2,050,725.00 1,288
2/20/2015 FA FNMA 1.1 % NON-CALL 1,000,000.00 992,180.00 1.300% 49,925.56 1,042,105.56 1,397
10/28/2015 FA FFCB 1.15% CALL 1/28/16 4,650,000.00 4,648,837.50 1.158% 174,956.25 4,823,793.75 1,188
11/2/2015 FA FNMA 1.20% CALL 4/29/16 5,000,000.00 4,992,500.00 1.247% 202,000.00 5,194,500.00 1,184
2/26/2016 FA FFCB 1.03% NON-CALL 4,000,000.00 4,004,640.00 0.990% 117,357.78 4,121,997.78 1,096
12/9/2014 FA FNMA 1.75% NON-CALL 2,500,000.00 2,515,625.00 1.596% 168,854.17 2,684,479.17 1,541
12/12/2014 FA FNMA 1.70% NON-CALL 1,852,000.00 1,863,630.56 1.545% 120,864.61 1,984,495.17 1,538
10/6/2014 FA FHLB 1.875% NON-CALL 2,000,000.00 2,011,440.00 1.875% 154,393.33 2,165,833.33 1,614
4/6/2015 FA PEFCO 4.375% NON-CALL 2,274,000.00 2,527,892.10 1.450% 138,254.46 2,666,146.56 1,439
1/29/2016 FA FHLB 4.250% NON-CALL 1,500,000.00 1,643,640.00 1.166% 20,895.83 1,664,535.83 1,158
12/19/2016 FA FAMCA 1.86% NON-CALL 500,000.00 505,300.00 1.390% 16,167.50 521,467.50 842
6/6/2014 FA FHLMC 1.2% CALL 5/7/15 1,000,000.00 976,800.00 1.693% 82,233.33 1,059,033.33 1,796
6/5/2015 FA FHLMC 1.75% NON-CALL 1,650,000.00 1,670,229.00 1.432% 94,869.96 1,765,098.96 1,455
7/10/2015 FA FHLMC 1.75% NON-CALL 1,000,000.00 1,015,100.00 1.350% 52,955.56 1,068,055.56 1,420
7/15/2015 FA FAMCA 1.50% NON-CALL 1,060,000.00 1,060,000.00 1.500% 62,230.83 1,122,230.83 1,430
2/26/2016 FA FAMCA 1.50% NON-CALL 3,000,000.00 3,033,300.00 1.156% 115,200.00 3,148,500.00 1,204
6/24/2015 FA FFCB 1.52% NON CALL 2,000,000.00 2,002,320.00 1.490% 119,280.00 2,121,600.00 1,461
6/26/2015 FA FFCB 1.52% NON-CALL 2,250,000.00 2,251,282.50 1.505% 135,327.50 2,386,610.00 1,459
6/28/2016 FA FNMA 1.20% CALL 12/28/16 2,500,000.00 2,500,000.00 1.200% 90,000.00 2,590,000.00 1,095
1/23/2015 FA FFCB 2.15% NON-CALL 3,250,000.00 3,354,097.50 1.410% 209,175.42 3,563,272.92 1,636
7/26/2016 FA FNMA 1.05% ONE CALL 7/26/18 2,300,000.00 2,300,000.00 1.050% 48,300.00 2,348,300.00 1,095
1/21/2015 FA FHLMC 1.25% NON-CALL 2,500,000.00 2,493,975.00 1.305% 147,518.06 2,641,493.06 1,653
4/28/2016 FA PEFCO 1.45% NON-CALL 2,600,000.00 2,617,570.80 1.240% 106,734.48 2,724,305.28 1,204
8/30/2016 FA FNMA 1.0% ONE CALL 8/28/18 2,400,000.00 2,400,000.00 1.000% 71,866.67 2,471,866.67 1,093
10/23/2014 FA FHLB 2.00% NON-CALL 1,500,000.00 1,525,968.30 1.630% 120,698.37 1,646,666.67 1,786
1/21/2015 FA FHLB 1.375% NON-CALL 2,000,000.00 2,000,440.00 1.370% 127,282.22 2,127,722.22 1,696
1/27/2017 FA FFCB 1.550% NON-CALL 1,000,000.00 1,003,130.00 1.430% 38,203.33 1,041,333.33 973
7/19/2016 FA FHLMC 1.25% NON-CALL 3,000,000.00 3,027,363.00 1.250% 92,741.17 3,120,104.17 1,170
10/6/2015 FA FNMA 1.33% NON-CALL 4,183,000.00 4,197,807.82 1.240% 210,509.47 4,408,317.29 1,479
5/26/2016 FA FNMA 1.30% QRTL Y CALL 4,000,000.00 4,000,000.00 1.300% 182,000.00 4,182,000.00 1,279
6/15/2015 FA FHLB 2.375% NON-CALL 3,370,000.00 3,468,026.56 1.700% 261,697.54 3,729,724.10 1,642
2/21/2017 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
5/19/2017 FA FNMA 1.20% QUARTERLY CALL 2,500,000.00 2,482,475.00 1.475% 95,691.67 2,578,166.67 952
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
4/26/2017 FA FHLMC 1.50% NON-CALL 1,250,000.00 1,251,150.00 1.465% 49,943.75 1,301,093.75 996
7/28/2016 FA FNMA 1.20% CALL 7/28/17 ONE TIME 4,850,000.00 4,850,000.00 1.200% 203,700.00 5,053,700.00 1,279
5/13/2016 FA FHLMC 1.30% CALL 2/13/17 ONE TIME 2,750,000.00 2,750,000.00 1.300% 134,062.50 2,884,062.50 1,371
2/24/2016 FA FHLMC 1.50% CONT CALL 1,750,000.00 1,750,000.00 1.500% 105,000.00 1,855,000.00 1,461
2/24/2016 FA FFCB 1.4% CONT CALL 1,000,000.00 1,000,000.00 1.400% 56,000.00 1,056,000.00 1,461
1/4/2017 FA FHLMC 1.25% QRTL Y CALL 2,000,000.00 1,978,000.00 1.610% 100,750.00 2,078,750.00 1,150
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
7/13/2016 FA FNMA 1.25% CALL 4/13/17 ONE TIME 5,000,000.00 5,000,000.00 1.250% 234,375.00 5,234,375.00 1,370
1/6/2017 FA FFCB 1.4% CONT CALL 1,000,000.00 992,000.00 1.652% 53,772.22 1,045,772.22 1,193
Page 13INVESTMENT REPORT
AS OF JUNE 30, 2017
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN {Days)
7/28/2016 FA FNMA 1.25% CALL 4/28/17 ONE TIME 3,750,000.00 3,750,000.00 1.250% 175,781.25 3,925,781.25 1,370
5/22/2017 FA FHLMC 1.625% ONE CALL 5/22/18 1,200,000.00 1,200,000.00 1.625% 58,500.00 1,258,500.00 1,096
5/24/2017 FA FHLMC 1.625% ONE CALL 5/19/20 2,250,000.00 2,255,062.50 1.548% 104,523.44 2,359,585.94 1,101
6/27/2017 FA FHLMC 1.625% ONE CALL 5/19/20 1,600,000.00 1,604,000.00 1.537% 71,977.78 1,675,977.78 1,067
6/5/2017 FA FHLB 1.6% CALL 12/5/17 CONT 1,300,000.00 1,300,000.00 1.600% 62,400.00 1,362,400.00 1,096
6/8/2017 FA FHLB 1.60% CALL 12/5/17 CONT 2,500,000.00 2,500,000.00 1.600% 120,000.00 2,620,000.00 1,093
6/8/2017 FA FHLMC 1.25% CALL 12/8/17 QRTLY STEP 2,550,000.00 2,549,490.00 2.021% 155,103.75 2,704,593.75 1,096
6/12/2015 FA FHLB 1.75% NON-CALL 3,000,000.00 3,000,000.00 1.750% 262,500.00 3,262,500.00 1,827
2/23/2016 FA FHLB 1.75% NON-CALL 2,000,000.00 2,039,980.00 1.271% 110,617.22 2,150,597.22 1,571
4/15/2016 FA FNMA 1.35% NON-CALL 2,150,000.00 2,159,632.00 1.240% 112,192.37 2,271,824.37 1,533
7/13/2016 FA FFCB 1.19% CALL 7/13/17 CONT 4,250,000.00 4,250,000.00 1.190% 202,300.00 4,452,300.00 1,461
4/27/2017 FA FHLMC 1.7% CALL 4/27/18 1,600,000.00 1,600,000.00 1.700% 88,400.00 1,688,400.00 1,187
1/21/2016 FA FHLB 1.83% NON-CALL 2,500,000.00 2,549,375.00 1.378% 157,516.67 2,706,891.67 1,651
9/7/2016 FA FFCB 1.32% CALL 8/24/17 CONT 3,000,000.00 2,998,260.00 1.335% 158,710.00 3,156,970.00 1,447
4/19/2016 FA FHLMC 1.65% NON-CALL 1,000,000.00 1,017,760.00 1.230% 54,152.50 1,071,912.50 1,592
6/8/2016 FA FHLB 2.875% NON-CALL 3,000,000.00 3,206,160.00 1.214% 161,121.25 3,367,281.25 1,556
10/12/2016 FA FHLB 1.375% NON-CALL 1,800,000.00 1,808,975.18 1.244% 87,893.57 I 1,896,868.75 1,430
3/29/2017 FA FHLMC 1.25% CALL QRTL Y 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
4/26/2017 FA FNMA 2.35% SEMI-ANNUAL CALL 1,300,000.00 1,332,019.00 1.618% 74,057.39 1,406,076.39 1,269
7/22/2016 FA FNMA 1.65% NON-CALL 3,250,000.00 3,316,612.00 1.165% 166,507.79 3,483,119.79 1,589
6/15/2017 FA FNMA 2.0% NON-CALL 1,100,000.00 1,113,618.00 1.630% 62,404.22 1,176,022.22 1,264
6/14/2016 FA FFCB 1.54% CALL 6/14/17 CONT 2,250,000.00 2,250,000.00 1.540% 155,925.00 2,405,925.00 1,644
6/21/2016 FA FFCB 1.55% CALL 9/21/16 CONT 2,000,000.00 2,000,000.00 1.550% 139,500.00 2,139,500.00 1,644
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 10/19/16 CONT 3,500,000.00 3,500,000.00 1.400% 220,500.00 3,720,500.00 1,645
9/9/2016 FA FAMCA 1.550% NON-CALL 2,000,000.00 2,018,640.00 1.550% 117,071.11 2,135,711.11 1,599
10/12/2016 FA TENN VALLEY AUTHORITY 3.875% NON-CALL 3,000,000.00 3,315,660.00 1.370% 189,058.75 3,504,718.75 1,587
2/26/2016 FA FHLMC 1.25% QRTL Y CALL STEP 1,000,000.00 999,500.00 2.103% 106,750.00 1,106,250.00 1,827
2/26/2016 FA FHLB 1.69% CALL 8/26/16 CONT 480,000.00 480,000.00 1.690% 74,495.20 554,495.20 1,827
3/22/2016 FA FHLB 1.25% QRTL Y 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% QRTL Y CALL 9/29/17 2,000,000.00 2,000,000.00 2.125% 170,000.00 2,170,000.00 1,461
4/28/2016 FA FHLMC 1.25% QRTLY CALL 10/28/16 STEP 2,500,000.00 2,496,250.00 2.122% 269,375.00 2,765,625.00 1,826
5/25/2016 FA FFCB 1.66% CALL 5/25/17 CONT 4,000,000.00 3,997,600.00 1.673% 334,400.00 4,332,000.00 1,826
10/12/2016 FA FHLB 2.25% NON-CALL 1,500,000.00 1,559,427.00 1.370% 97,979.25 1,657,406.25 1,703
6/15/2017 FA FFCB 1.81% CALL 6/14/18 CONT 1,760,000.00 1,760,000.00 1.810% 127,335.51 1,887,335.51 1,460
6/15/2017 FA FHLMC 1.8% CALL 6/15/18 ONE TIME 1,400,000.00 1,400,000.00 1.800% 100,800.00 1,500,800.00 1,461
10/26/2016 FA FHLB 1.125% NON-CALL 2,500,000.00 2,476,850.00 1.328% 155,806.25 2,632,656.25 1,722
2/16/2017 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 1/28/17 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 2/16/18 ONE TIME 1,325,000.00 1,325,000.00 2.000% 119,250.00 1,444,250.00 1,642
10/28/2016 FA FNMA 1.375% NON-CALL 2,500,000.00 2,491,075.00 1.450% 178,794.79 2,669,869.79 1,805
Page 14INVESTMENT REPORT
AS OF JUNE 30, 2017
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
2/21/2017 FA FFCB 2.14% CALL 4/18/17 CONT 1,250,000.00 1,250,000.00 2.140% 124,610.42 1,374,610.42 1,700
5/22/2017 FA FFCB 2.4% CALL 10/27/17 CONT 1,800,000.00 1,808,460.00 2.288% 182,940.00 1,991,400.00 1,619
2/24/2017 FA FH LB 1.125% CALL 11 /22/17 STEP 1,500,000.00 1,500,000.00 2.170% 155,062.50 1,655,062.50 1,732
11/29/2016 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
4/12/2017 FA FHLB 1.875% NON-CALL 2,000,000.00 2,003,620.00 1.834% 171,171.67 2,174,791.67 1,703
1/26/2017 FA FHLMC 2.0% QRTL Y CALL STEP 2,000,000.00 2,000,000.00 2.360% 237,500.00 2,237,500.00 1,826
2/23/2017 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
2/28/2017 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
3/29/2017 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
.3/29/2017 FA FHLMC 2.35 QRTL Y CALL 1,150,000.00 1,150,000.00 2.350% 135,125.00 1,285,125.00 1,826
5/25/2017 FA FNMA 1.875% NON-CALL 1,600,000.00 1,600,581.01 1.867% 145,252.32 1,745,833.33 1,776
4/27/2017 FA FHLMC 2.625% CALL 4/27/22 3,500,000.00 3,545,920.00 2.345% 413,455.00 3,959,375.00 1,826
4/27/2017 FA FHLMC 1. 75% QRTL Y CALL STEP 1,180,000.00 1,180,000.00 2.625% 154,875.00 1,334,875.00 1,826
6/22/2017 FA FHLMC 2.00% QRTL Y CALL STEP 875,000.00 875,000.00 2.175% 95,156.25 970,156.25 1,826
6/29/2017 FA FHLMC 2.15% QRTL Y CALL 2,500,000.00 2,500,000.00 2.150% 268,750.00 2,768,750.00 1,826
SUB-TOTAL 326,661,000.00 328,746,150.33 1.428% 17,769,682.51 346,515,832.84 1,385
1/23/2015 FN FNMA 0% NON-CALL 1,163,000.00 1,086,447.85 1.700% 76,552.15 1,163,000.00 1,470
4/24/2017 FN FNMA 0% NON-CALL 500,000.00 487,450.00 1.442% 12,550.00 500,000.00 648
1/21/2015 FN FICO 0% NON-CALL 4,000,000.00 3,772,000.00 1.400% 228,000.00 4,000,000.00 1,535
4/1/2015 FN FICO 0% NON-CALL 2,100,000.00 1,958,591.39 1.560% 141,408.61 2,100,000.00 1,639
9/23/2015 FN FICO 0% NON-CALL 3,200,000.00 3,003,168.00 1.590% 196,832.00 3,200,000.00 1,464
3/3/2015 FN FNMA 0% NON-CALL 2,000,000.00 1,825,044.00 2.000% 174,956.00 2,000,000.00 1,681
11/7/2016 FN FNMA 0% NON-CALL 2,200,000.00 2,115,792.80 1.340% 84,207.20 2,200,000.00 1,066
1/27/2017 FN FNMA 0% NON-CALL 1,000,000.00 950,223.00 1.900% 49,777.00 1,000,000.00 985
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 19,163,000.00 17,949,477.04 1.6026% 1,213,522.96 19,163,000.00 3,653
Federal Investments Total 345,824,000.00 346,695,627.37 18,983,205.47 365,678,832.84 2,519
11/22/2013 TR US TREASURY .50% 2,000,000.00 1,974,619.96 0.850% 62,282.21 2,036,902.17 1,347
5/22/2015 TR US TREASURY .50% 1,000,000.00 996,900.00 0.643% 14,066.85 1,010,966.85 801
7/21/2015 TR US TREASURY .625% 2,000,000.00 1,994,352.00 0.760% 32,040.66 2,026,392.66 772
9/18/2015 TR US TREASURY 1.875% 2,500,000.00 2,551,660.00 0.805% 39,772.01 2,591,432.01 713
1/29/2016 TR US TREASURY 1.00% 2,800,000.00 2,809,078.13 0.800% 36,460.33 2,845,538.46 595
7/21/2015 TR US TREASURY .625% 1,500,000.00 1,494,787.50 0.785% 25,781.15 1,520,568.65 802
3/5/2015 TR US TREASURY .75% 2,000,000.00 1,989,531.25 0.950% 50,289.19 2,039,820.44 971
10/27/2015 TR US TREASURY .75% 2,500,000.00 2,506,045.00 0.629% 31,658.80 2,537,703.80 735
12/2/2016 TR US TREASURY 1.875% 2,750,000.00 2,776,034.25 0.830% 20,970.24 2,797,004.49 333
3/10/2017 TR US TREASURY 1.00% 1,200,000.00 1,198,788.00 1.100% 13,377.75 1,212,165.75 370
Page 15INVESTMENT REPORT
AS OF JUNE 30, 2017
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
7/21/2015 TR US TREASURY .75% 1,700,000.00 1,691,765.61 0.932% 42,582.75 1,734,348.36 984
12/16/2016 TR US TREASURY 2.875% 2,000,000.00 2,045,792.00 1.080% 28,294.54 2,074,086.54 470
10/26/2016 TR US TREASURY .75% 2,400,000.00 2,400,000.00 0.750% 27,244.57 2,427,244.57 551
6/7/2017 TR US TREASURY .625% 2,000,000.00 1,990,312.50 1.169% 20,896.74 2,011,209.24 327
10/7/2014 TR US TREASURY 1.375% 1,400,000.00 1,400,251.69 1.370% 73,191.24 1,473,442.93 1,393
7/16/2014 TR US TREASURY 1.50% 4,000,000.00 4,009,600.00 1.496% 237,900.00 4,247,500.00 1,507
7/24/2014 TR US TREASURY 1.50% 2,000,000.00 2,006,348.00 1.420% 116,749.83 2,123,097.83 1,499
10/7/2014 TR US TREASURY 1.50% 1,500,000.00 1,505,664.36 1.400% 82,035.92 1,587,700.28 1,424
8/5/2014 TR US TREASURY 1.25% 3,000,000.00 2,974,200.00 1.460% 184,665.49 3,158,865.49 1,548
12/29/2015 TR US TREASURY 1.25% 2,000,000.00 1,998,878.00 1.270% 72,069.80 2,070,947.80 1,037
4/15/2016 TR US TREASURY 1.25% 1,500,000.00 1,515,292.97 0.850% 33,127.36 1,548,420.33 944
10/3/2014 TR US TREASURY 1.50% 1,000,000.00 1,000,000.00 1.500% 63,627.72 1,063,627.72 1,550
6/5/2015 TR US TREASURY 1.50% 2,000,000.00 2,015,296.00 1.285% 94,344.88 2,109,640.88 1,336
1/27/2017 TR US TREASURY 1.375% 1,000,000.00 1,003,590.00 1.200% 25,125.47 1,028,715.47 762
10/6/2015 TR US TREASURY 1.625% 4,000,000.00 4,083,992.00 1.010% 142,442.43 4,226,434.43 1,272
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
12/19/2016 TR US TREASURY 1.25% 800,000.00 798,640.00 1.323% 25,006.41 823,646.41 862
7/21/2015 TR US TREASURY 1.5% 1,500,000.00 1,505,156.25 1.408% 81,708.50 1,586,864.75 1,410
2/21/2017 TR US TREASURY 1.5% 800,000.00 803,875.00 1.283% 23,388.74 827,263.74 829
8/1/2014 TR US TREASURY 1.625% 2,515,000.00 2,500,019.15 1.750% 219,213.54 2,719,232.69 1,825
10/6/2014 TR US TREASURY 1 .00% 1,000,000.00 964,920.00 1.036% 84,085.52 1,049,005.52 1,790
1/10/2017 TR US TREASURY 1.625% 1,250,000.00 1,258,593.75 1.358% 44,936.98 1,303,530.73 963
12/22/2016 TR US TREASURY 1.375% 2,200,000.00 2,184,531.25 1.602% 111,901.07 2,296,432.32 1,164
1/10/2017 TR US TREASURY 1.375% 1,400,000.00 1,395,520.00 1.480% 64,835.66 1,460,355.66 1,145
5/24/2016 TR US TREASURY 1.375% 2,300,000.00 2,315,093.75 1.204% 109,343.75 2,424,437.50 1,437
12/19/2016 TR US TREASURY 1.625% 1,350,000.00 1,345,570.31 1.721% 81,926.29 1,427,496.60 1,289
12/2/2016 TR US TREASURY 1.625% 1,500,000.00 1,500,000.00 1.625% 89,286.68 1,589,286.68 1,337
6/7/2017 TR US TREASURY 1.625% 2,000,000.00 2,011,320.00 1.440% 91,028.07 2,102,348.07 1,150
9/22/2015 TR US TREASURY 2.125% 3,000,000.00 3,085,500.00 2.097% 229,396.98 3,314,896.98 1,805
10/28/2016 TR US TREASURY 1.375% 1,750,000.00 1,759,570.31 1.235% 86,875.85 1,846,446.16 1,464
12/2/2016 TR US TREASURY 1.375% 1,200,000.00 1,186,200.00 1.680% 78,341.44 1,264,541.44 1,429
1/13/2017 TR US TREASURY 1.375% 1,300,000.00 1,289,234.38 1.601% 78,611.61 1,367,845.99 1,387
1/5/2016 TR US TREASURY 2.375% 4,000,000.00 4,127,500.00 1.705% 346,195.00 4,473,695.00 1,822
5/5/2016 TR US TREASURY 1.75% 2,000,000.00 2,049,174.00 1.205% 113,710.62 2,162,884.62 1,701
1/20/2017 TR US TREASURY 1.125% 2,750,000.00 2,673,515.63 1.831% 203,567.42 2,877,083.05 1,500
2/17/2017 TR US TREASURY 1.125% 1,225,000.00 1,194,853.52 1.760% 85,690.25 1,280,543.77 1,472
5/9/2017 TR US TREASURY 1.25% 1,400,000.00 1,374,786.00 1.730% 93,349.25 1,468,135.25 1,422
8/19/2016 TR US TREASURY 1.375% 3,000,000.00 3,037,662.00 1.100% 156,145.74 3,193,807.74 1,715
12/16/2016 TR US TREASURY 2.000% 2,250,000.00 2,250,000.00 2.000% 200,521.98 2,450,521.98 1,627
10/28/2016 TR US TREASURY 1.125% 2,500,000.00 2,477,400.00 1.325% 154,053.80 2,631,453.80 1,706
12/16/2016 TR US TREASURY 1.125% 2,650,000.00 2,547,312.50 2.022% 238,058.93 2,785,371.43 1,657
Page 16INVESTMENT REPORT
AS OF JUNE 30, 2017
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
1/20/2017 TR US TREASURY 1.125% 1,500,000.00 1,448,203.13 1.925% 145,113.79 1,593,316.92 1,653
12/2/2016 TR US TREASURY 2.125% 1,600,000.00 1,615,500.00 1.913% 148,615.38 1,764, 115.38 1,763
3/10/2017 TR US TREASURY 1.125% 1,200,000.00 1,150,500.00 2.078% 111,028.85 1,261,528.85 1,665
5/19/2017 TR US TREASURY 1.125% 1,500,000.00 1,464,375.00 1.691% 109,303.28 1,573,678.28 1,595
11/17/2016 TR US TREASURY 2.00% 2,000,000.00 2,030,000.00 1.683% 168,121.55 2,198,121.55 1,809
11/18/2016 TR US TREASURY 2.00% 2,000,000.00 2,028,360.00 1.700% 169,651.15 2,198,011.15 1,808
11/22/2016 TR US TREASURY 2.00% 2,000,000.00 2,016,562.50 1.825% 182,664.02 2,199,226.52 1,819
1/6/2017 TR US TREASURY 2.125% ..4,000,000.00 4,052,128.00 1.850% 371,463.16 4,423,591 .16 1,820
2/3/2017 TR US TREASURY 2.125% 1,850,000.00 1,867,632.81 1.920% 175,237.36 2,042,870.17 1,792
1/20/2017 TR US TREASURY 1.50% 3,000,000.00 2,928,555.00 2.000% 297,790.11 3,226,345.11 1,837
3/2/2017 TR US TREASURY 1.750% 3,000,000.00 2,963,925.00 2.000% 302,757.69 3,266,682.69 1,855
5/15/2017 TR US TREASURY 1.750% 2,000,000.00 1,985,625.00 1.901% 189,375.00 2,175,000.00 1,826
SUB-TOTAL 126,040,000.00 126,126,073.46 1.420% 7,059,915.50 133,185,988.96 1,301
9/29/2016 CN ROYAL BANK OF CANADA 1.20% NON-CALL 1,275,000.00 1,276,597.58 1.070% 13,277.42 1,289,875.00 355
6/12/2014 CN CHEVRON CORP 1.104% NON CALL 2,000,000.00 1,996,180.00 1.160% 80,670.67 2,076,850.67 1,272
3/8/2013 CN WAL-MART 5.8% NON CALL 3,000,000.00 3,669,120.00 1.140% 189,763.33 3,858,883.33 1,805
5/27/2015 CN WAL-MART 5.8% NON CALL 2,000,000.00 2,249,440.00 1.125% 65,693.33 2,315,133.33 995
3/26/2013 CN COCA COLA CA 1.150% MAKE-WHOLE CALL 1,000,000.00 1,000,000.00 1.150% 57,627.78 1,057,627.78 1,832
10/29/2015 CN WAL-MART STORES 1.125% MAKE WHOLE 4,000,000.00 4,024,400.00 0.873% 85,850.00 4,110,250.00 895
9/18/2014 CN COLGATE-PALMOLIVE .90% MAKE WHOLE CALL 1,000,000.00 980,600.00 1.452% 51,975.00 1,032,575.00 1,321
1/27/2015 CN COLGATE-PALMOLIVE .90% MAKE WHOLE CALL 2,000,000.00 1,983,000.00 1.166% 75,700.00 2,058,700.00 1,190
2/25/2016 CN COLGATE-PALMOLIVE .90% MAKE WHOLE CALL 2,500,000.00 2,495,450.00 0.984% 53,675.00 2,549,125.00 796
5/11/2015 CN APPLE 1.0% MAKE WHOLE CALL 2,000,000.00 1,989,840.00 1.174% 69,715.56 2,059,555.56 1,088
5/15/2013 CN BERKSHIRE HATHAWAY 1.30% MAKE WHOLE CALL 5,000,000.00 5,019,345.05 1.220% 305,654.95 5,325,000.00 1,826
12/24/2015 CN CHEVRON CORP 1.718% MAKE WHOLE CALL 2,250,000.00 2,253,600.00 1.650% 93,037.50 2,346,637.50 913
12/31/2015 CN CHEVRON CORP 1.718% MAKE WHOLE CALL 1,000,000.00 996,300.00 1.871 % 46,315.94 1,042,615.94 906
1/28/2016 CN TOYOTA 1.55% NON-CALL 2,000,000.00 2,014,400.00 1.252% 61,808.33 2,076,208.33 897
12/19/2014 CN MASS MUTUAL GLOBAL 2.10% NON-CALL 3,500,000.00 3,555,685.00 1.645% 210,344.17 3,766,029.17 1,322
2/19/2015 CN ROYAL BANK OF CANADA 2.00% NON-CALL 2,250,000.00 2,289,442.50 1.500% 123,307.50 2,412,750.00 1,320
7/12/2016 CN IBM CORP 7.625% MAKE WHOLE CALL 2,628,000.00 3,005,118.00 1.167% 75,418.12 3,080,536.12 825
4/19/2016 CN NY LIFE 1.55% NON-CALL 2,000,000.00 2,014,620.00 1.256% 63,999.45 2,078,619.45 927
12/24/2013 CN COCA COLA CA 1.650% MAKE-WHOLE CALL 3,500,000.00 3,491,856.17 1.700% 288,391.75 3,780,247.92 1,782
10/28/2015 CN JOHNSON & JOHNSON 1.65% MAKE WHOLE 4,000,000.00 4,070,600.00 1.070% 134,183.33 4,204,783.33 1,134
4/9/2015 CN MICROSOFT 1.625% NON-CALL 2,000,000.00 2,037,820.00 1.096% 81,075.83 2,118,895.83 1,337
12/22/2015 CN EXXON MOBIL 1.819% NON-CALL 1,250,000.00 1,259,125.00 1.580% 64,329.76 1,323,454.76 1,179
6/30/2015 CN MASS MUTUAL GLOBAL 2.35% NON-CALL 3,250,000.00 3,286,335.00 2.040% 251,980.62 3,538,315.62 1,379
10/8/2015 CN APPLE 2.10% MAKE WHOLE CALL 2,500,000.00 2,558,025.00 1.432% 129,808.33 2,687,833.33 1,306
5/27/2015 CN IBM CORP 1.8750% NON-CALL 2,150,000.00 2,169,715.50 1.635% 140,190.75 2,309,906.25 1,449
7/16/2015 CN TOYOTA2.125% NON-CALL 2,000,000.00 2,009,760.00 1.998% 160,476.11 2,170,236.11 1,463
Page 17INVESTMENT REPORT
AS OF JUNE 30, 2017
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
11/18/2014 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 3,000,000.00 3,017,400.00 2.070% 311,001.75 3,328,401.75 1,823
12/22/2015 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 2,800,000.00 2,811,200.00 2.083% 228,105.03 3,039,305.03 1,424
4/20/2016 CN JOHNSON & JOHNSON 1.875% MAKE WHOLE CALL 2,250,000.00 2,315,250.00 1.057% 87,679.69 2,402,929.69 1,324
4/9/2015 CN NY LIFE GOLBAL 1.95% NON-CALL 2,000,000.00 2,017,520.00 1.760% 171,196.67 2,188,716.67 1,769
1/20/2017 CN NY LIFE GOLBAL 1.95% NON-CALL 2,000,000.00 2,000,000.00 1.950% 119,275.00 2,119,275.00 1,117
9/25/2015 CN CVX 1.961 % MAKE WHOLE CALL 2,800,000.00 2,790,704.00 2.039% 253,026.51 3,043,730.51 1,621
11/4/2015 CN EXXON MOBIL 1.912% MAKE WHOLE CALL 5,000,000.00 5,057,700.00 1.630% 357,097.78 5,414,797.78 1,584
11/3/2015 CN APPLE 2.0% MAKE WHOLE CALL 4,000,000.00 4,028,000.00 1.837% 332,666.66 4,360,666.66 1,646
5/24/2016 CN IBM 1.625% MAKE-WHOLE CALL 1,500,000.00 1,503,000.00 1.573% 93,890.62 1,596,890.62 1,452
11/3/2015 CN MMM 2.0% MAKE WHOLE CALL 3,500,000.00 3,554,215.00 1.660% 279,062.78 3,833,277.78 1,739
9/25/2015 CN JOHNSON & JOHNSON 2.95% MAKE WHOLE 1,000,000.00 1,058,028.49 1.718% 87,504.84 1,145,533.33 1,803
9/24/2015 CN AUTOMATIC DATA PROCESSING 2.25% MAKE-WHOL 4,000,000.00 4,029,600.00 2.090% 418,150.00 4,447,750.00 1,818
11/10/2015 CN MICROSOFT 2.00% MAKE WHOLE CALL 5,000,000.00 5,018,550.00 1.920% 479,505.56 5,498,055.56 1,820
6/10/2016 CN MICROSOFT 2.00% MAKE WHOLE CALL 1,500,000.00 1,539,450.00 1.370% 92,466.67 1,631,916.67 1,607
6/29/2017 CN TOYOTA 2.0% CALL 6/29/20 3,000,000.00 3,000,000.00 2.000% 210,000.00 3,210,000.00 1,279
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
4/17/2017 CN ALPHABET, INC 3.625% MAKE WHOLE CALL 2,000,000.00 2,136,700.00 1.883% 159,744.44 2,296,444.44 1,493
5/14/2017 CN ALPHABET, INC 3.625% MAKE WHOLE CALL 2,000,000.00 2,133,400.00 1.900% 159,620.83 2,293,020.83 1,466
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
2/7/2017 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
11/7/2016 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
3/6/2017 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
5/23/2017 CN APPLE INC 2.3% MAKE WHOLE 3,300,000.00 3,318,150.00 2.181% 358,820.00 3,676,970.00 1,814
SUB-TOTAL 134,303,000.00 136,808,208.29 1.597% 8,999,996.16 145,808,204.45 1,432
12/24/2012 CD DELTA NATL BANK & TRUST .90% 249,000.00 248,377.50 0.952% 11,624.88 260,002.38 1,792
12/24/2012 CD PACIFIC CONTL BANK .90% 249,000.00 248,452.20 0.946% 11,556.33 260,008.53 1,793
12/11/2012 CD BANCO POPULAR DE PR HATO 1.1% 248,000.00 248,000.00 1.100% 13,595.16 261,595.16 1,820
12/11/2014 CD ALLY BANK 1.55% 247,000.00 247,000.00 1.550% 11,485.50 258,485.50 1,096
12/14/2014 CD FIRST BANK OF PUERTO RICO 1.25% 249,000.00 249,000.00 1.250% 15,562.50 264,562.50 1,096
12/14/2012 CD BANKERS BANK KANSAS 1.0% 249,000.00 248,502.00 1.000% 12,948.00 261,450.00 1,826
1/16/2013 CD THE BANK OF HOLLAND 1.00% 249,000.00 248,751.00 1.000% 12,699.00 261,450.00 1,826
1/16/2013 CD BANK OF NORTHERN MICHIGAN 1.00% 249,000.00 248,751.00 1.000% 12,699.00 261,450.00 1,826
1/18/2013 CD STEARNS BANK .90% 249,000.00 248,253.00 1.000% 11,952.00 260,205.00 1,826
1/18/2017 CD MB FINANCIAL BANK 2.050% 249,000.00 249,000.00 2.050% 25,522.50 274,522.50 1,826
1/20/2017 CD FIRST NATL BANKO AMERICA 2.05% 249,000.00 249,000.00 2.050% 25,522.50 274,522.50 1,826
Page 18INVESTMENT REPORT
AS OF JUNE 30, 2017
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
1/29/2016 CD CUSTOMERS BANK 1.20% 248,000.00 248,000.00 1.200% 5,960.27 253,960.27 731
1/30/2013 CD FARMERS & MERCHANTS BANK .90% 249,000.00 248,253.00 0.900% 11,952.00 260,205.00 1,826
2/10/2016 CD ORIENTAL BANK SAN JAUN PR 1.2% NON-CALL 248,000.00 248,000.00 1.200% 5,943.73 253,943.73 730
2/10/2016 CD CADENCE BANK 1.25% NON-CALL 248,000.00 248,000.00 1.250% 6,217.22 254,217.22 733
3/28/2013 CD WASHINGTON FEDERAL SAVINGS 1.0% CALL 249,000.00 248,253.00 1.000% 13,197.00 261,450.00 1,826
4/5/2013 CD BOSTON PRIVATE BANK & TRUST .95% CALL 248,000.00 247,008.00 1.032% 12,765.55 259,773.55 1,825
4/18/2013 CD FIRST STATE BANK NE .95% CALL 249,000.00 248,502.00 0.991% 12,325.50 260,827.50 1,826
4/30/2013 CD FOREST COMMERCIAL BANK .90% CALL 249,000.00 248,253.00 0.960% 11,952.00 260,205.00 1,826
5/29/2015 CD COMPASS BANK BIRMINGHAM NON-CALL 248,000.00 248,000.00 1.300% 9,672.00 257,672.00 1,096
6/4/2015 CD MEDALLION BANK SALT LAKE 1.25 % NON-CALL 249,000.00 249,000.00 1.250% 9,337.50 258,337.50 1,096
6/15/2016 CD AMERICA'S CREDIT UNION 1.10% 248,000.00 248,000.00 1.100% 5,456.00 253,456.00 730
8/25/2016 CD BMO HARRIS BANK 1.10% 248,000.00 248,000.00 1.100% 5,456.00 253,456.00 729
1/20/2016 CD KEY BANK NATL ASSN OHIO 1.55% 247,000.00 247,000.00 1.550% 11,528.04 258,528.04 1,098
7/15/2015 CD CAPTIAL ONE 1.95% NON-CALL 249,000.00 249,000.00 1.950% 19,422.00 268,422.00 1,461
7/24/2014 CD AMERICAN EXPRESS BANK 2.00% 247,000.00 247,000.00 2.000% 24,700.00 271,700.00 1,826
8/28/2014 CD ENERBANK USA 2.05% 247,000.00 247,000.00 2.050% 25,317.50 272,317.50 1,826
8/29/2014 CD SYNCHRONY BANK 2.1% 247,000.00 247,000.00 2.100% 25,935.00 272,935.00 1,826
8/30/2016 CD WASHINGTON TRUST 1.2% 248,000.00 248,000.00 1.200% 8,928.00 256,928.00 1,095
9/16/2016 CD ISRAEL DISCOUNT BK OF NY 1.3% 248,000.00 248,000.00 1.300% 9,689.91 257,689.91 1,095
9/24/2014 CD DISCOVER 2.15% 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 1,826
9/24/2014 CD GOLDMAN SACHS BANK2.15% 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 1,826
10/8/2014 CD CAPITAL ONE ABANK USA 2.10% 247,000.00 247,000.00 2.100% 25,935.00 272,935.00 1,826
10/10/2014 CD GE CAPITAL BANK 2.0% 247,000.00 245,641.50 2.000% 26,058.50 271,700.00 1,826
10/29/2014 CD PEOPLES UTD BANK CT 1.9% 247,000.00 247,000.00 1.900% 23,465.00 270,465.00 1,826
11/3/2014 CD WEBSTER BANK NAT'LASSOC 1.9% 247,000.00 247,000.00 1.900% 23,465.00 270,465.00 1,827
12/3/2014 CD CIT BANK SALT LAKE CITY 2.2% 247,000.00 247,000.00 2.200% 27,170.00 274,170.00 1,826
12/4/2014 CD AMERICAN EXPRESS CENTURION 2.2% 247,000.00 247,000.00 2.200% 27,170.00 274,170.00 1,826
12/10/2014 CD BMW BANK OF N AMERICA 2.15% 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 1,826
12/23/2014 CD SALLIE MAE BANK SALT LAKE 2.2% 247,000.00 247,000.00 2.200% 26,976.46 273,976.46 1,813
1/23/2015 CD PRIVATE BANK & TRUST 1.90% 247,000.00 247,000.00 1.900% 23,465.00 270,465.00 1,826
7/24/2015 CD EAGLE BANK 1.80% 249,000.00 249,000.00 1.800% 20,169.00 269,169.00 1,645
1/27/2015 CD NORTHFIELD BANK 1.65% 249,000.00 249,000.00 1.650% 20,542.50 269,542.50 1,826
1/30/2015 CD BANK OF GEORGETOWN 1.65% 249,000.00 249,000.00 1.650% 20,542.50 269,542.50 1,826
2/6/2015 CD MACHIAS SAVINGS BANK 1.65% 247,000.00 247,000.00 1.650% 20,377.50 267,377.50 1,826
3/3/2015 CD THIRD FEDERAL SAVING & LOAN 1.75% 247,000.00 246,407.20 1.754% 22,146.09 268,553.29 1,821
3/25/2015 CD WELLS FARGO BANK SIOUX FALLS 1.5% 247,000.00 247,000.00 1.500% 18,525.00 265,525.00 1,827
4/22/2015 CD MARLIN BUSINESS BANK SALT LAKE 1.6% 247,000.00 247,000.00 1.600% 19,760.00 266,760.00 1,827
5/13/2015 CD WORLD FOREMOST BANK SYDNEY 2.00% 200,000.00 200,000.00 2.000% 20,000.00 220,000.00 1,827
6/29/2015 CD FIRST SOURCE BANK 1.85% 247,000.00 246,382.50 1.904% 23,465.00 269,847.50 1,827
7/31/2015 CD INSTITUTION FOR SAVINGS 2.05% 249,000.00 249,000.00 2.050% 25,522.50 274,522.50 1,827
8/6/2015 CD ORRSTOWN BANK 2.0% 249,000.00 249,000.00 2.000% 24,706.33 273,706.33 1,841
8/11/2015 CD INVESTOR BANK 2.0% 247,000.00 247,000.00 2.000% 24,700.00 271,700.00 1,841
Page 19INVESTMENT REPORT
AS OF JUNE 30, 2017
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
9/10/2015 CD MERRICK BANK 1.85% 249,000.00 248,377.50 1.910% 23,655.00 272,032.50 1,827
9/22/2015 CD BARCLAYS BANK 2.2% 248,000.00 248,000.00 2.200% 27,190.31 275,190.31 1,821
10/19/2015 CD COMENITY CAP BANK 2.0% 249,000.00 249,000.00 2.000% 24,818.14 273,818.14 1,821
1/15/2016 CD INVESTORS CMNTY BANK 1.85% 249,000.00 249,000.00 1.850% 23,032.50 272,032.50 1,827
6/10/2016 CD UBS BANK USA SALT LAKE CITY 1.65% 249,000.00 249,000.00 1.650% 20,508.73 269,508.73 1,823
6/22/2017 CD LAKESIDE BANK 1.90% 249,000.00 249,000.00 1.900% 18,924.00 267,924.00 1,461
6/23/2016 CD EAST BOSTON SAVING BANK 1.5% 248,000.00 248,000.00 1.500% 18,600.00 266,600.00 1,826
6/24/2016 CD FIRST BUSINESS BK MADISON 1.5% 248,000.00 248,000.00 1.500% 18,600.00 266,600.00 1,826
6/30/2016 CD FIRST TECHNOLOGY FEDERAL CR UNION 1.75% 248,000.00 248,000.00 1.750% 21,700.00 269,700.00 1,826
6/7/2017 CD MECHANTILE BANK OF MICHIGAN 2.10% 247,000.00 247,000.00 2.100% 25,935.00 272,935.00 1,826
SUB-TOTAL 15,578,000.00 15,568,164.40 1.619% 1,167,705.15 16,735,869.55 1,642
0 WELLS FARGO BANK 454,348.00 454,348.00 0.080% 1.00 454,349.00
0 CORPORATE CASH MANAGEMENT ACCOUNT 4,028,751.44 4,028,751.44 0.080% 8.83 4,028,760.27
0 LIBRARY ACCOUNT 304.41 304.41 0.000% 304.41 1
0 UNION TRUST 178,220.69 178,220.69 0.000% 0.00 178,220.69 1
0 LA IF WATER DISTRICT 21,357,000.00 21,357,000.00 0.930% 551.72 21,357,551.72
0 LA IF PUBLIC IMPROVEMENT CORPORATION 21,736,000.00 21,736,000.00 0.930% 561.51 21,736,561.51
0 LA IF PUBLIC FINANCING CORPORATION 25,470,000.00 25,470,000.00 0.930% 657.98 25,470,657.98
0 LA I F CITY OF CARLSBAD 25,943,000.00 25,943,000.00 0.930% 670.19 25,943,670.19
SUB-TOTAL 99,167,624.54 99,167,624.54 0.890% 2,451.23 99,170,075.77
GRAND TOTAL 720,912,624.54 724,365,698.06 1.3933% 36,213,273.51 760,578,971.57
Page 20
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF JUNE 30, 2017
Cash Balance by Fund:
General
Special Revenue
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
47,891,713
19,217,134
31,298,633
9,598,110
6,376,802
6,663,145
94,843,413
99,828,651
16,894,394
123,429,568
47,425,805
7,130,825
6,261,803
1,127,643
EXHIBIT 8
112,816,659
27,620,061
332,611,996
185,375,643
46,602,497
18,406,134
1,205,830
724,638,820
(2,060,898)
722,577,923
(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 7/25/17
Page 21
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of JUNE 30, 2017
CORPORA TE 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 HATHAWAY Aa2 AA AA-
CHEVRON Aa2 AA-NR
COCA COLA Aa3 AA-A+
COLGATE-PALMOLIVE Aa3 AA-AA-
EXXON MOBIL Aaa AA+ NR
JOHNSON & JOHNSON Aaa AAA AAA
MASS MUTUAL GLOBAL Aa2 AA+ AA+
MICROSOFT Aaa AAA AA+
NEW YORK LIFE Aaa AA+ 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 A1/P1 or better by two of the three: Moody's, S&P or Fitch)
EXHIBIT 9
(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
Moody's S&P Fitch Maturity Date
IBM CORP A1 A+ A+ 11/01/2021
3M COMPANY A1 AA-NR 08/07/2020
* 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.
Carrying Market
Value Value
7,550,443 7,490,424
3,535,300 3,516,135
Page 22
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JUNE 30, 2017
WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS
PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER
EXHIBIT 10
Investment Cost Percent of Portfolio*
ADP 4,029,600.00 0.56%
ALPHABET, INC 5,364,100.00 0.74%
APPLE INC 11,894,015.00 1.64%
BERKSHIRE HATHAWAY 5,019,345.05 0.69%
CHEVRON 13,865,384.00 1.91%
COCA COLA CO 8,073,352.17 1.11%
COLGATE-PALMOLIVE 5,459,050.00 OJ5%
EXXON MOBIL 11,397,154.99 1.57%
IBM CORP 7,730,433.50 1.07%
JOHNSON & JOHNSON 7,443,878.49 1.03%
MASS MUTUAL 6,842,020.01 0.94%
MICROSOFT 16,538,680.00 2.28%
3M COMPANY 3,554,215.00 0.49%
NEW YORK LIFE 6,032,140.00 0.83%
ROYAL BANK OF CANADA 3,566,040.08 0.49%
TOYOTA 10,055,840.00 1.39%
WAL-MART 9,942,960.00 1.37%
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
FAMCA
FICO
FEDERAL FARM CREDIT BANK
FEDERAL HOME LOAN BANK
FEDERAL HOME LOAN MORTGAGE CORP
FEDERAL NATIONAL MORTGAGE ASSOC
PEFCO
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 Percent of Portfolio**
21,805,891.00
8,733,759.39
61,386,940.43
80,892,896.04
67,874,875.50
89,878,862.18
9,504,757.83
2,750,760.00
3,866,885.00
126,126,073.47
3.01%
1.21%
8.47%
11.17%
9.37%
12.41%
1.31%
0.38%
0.53%
17.41%
$724;365,698.07
Page 23City of Carlsbad
Bond Proceeds Investment Report
June 30, 2017
Fund Type Investments
Assessment District 03-01 (College/Cannon)
Project Fund Invesco Gov. & Agency -Institutional Money Market
Re-Assessment District 97-01 (Alga Road & College Blvd)
lmprvmnt Fund -Alga Invesco Gov. & Agency -Institutional Money Market
Assessment District 95-01 (Carlsbad Ranch)
Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC)
Assessment District 96-01 (Rancho Carrillo)
Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC)
ReAssessment District 2012-1 (College/Cannon & Poinsettia Lane)
Reserve Fund Invesco Gov. & Agency-Institutional Money Market
Other Invesco Gov. & Agency -Institutional Money Market
Communities Facilities District #3 Improvement Area 1, 2016 Bonds
Reserve Fund Invesco Gov. & Agency -Institutional Money Market
Cost of Issuance Invesco Gov. & Agency -Institutional Money Market
Communities Facilities District #3 Improvement Area 2, 2016 Bonds
Reserve Fund Invesco Gov. & Agency -Institutional Money Market
Cost of Issuance Invesco Gov. & Agency -Institutional Money Market
H:\Long Term Debt\Quarterly Investment Reports\Qtr Inv Rpt (FY 16-17 onward)
Stated Int.
Rate
N/A
N/A
5.83%
6.03%
various
various
various
various
various
various
Maturity
Date
N/A
N/A
N/A
09/02/28
N/A
N/A
09/01/36
09/01/36
09/01/38
09/01/38
$
$
$
$
$
$
$
$
$
$
$
Par Value Cost Source
Fiscal Agent: BNY Mellon
935,519 $ 935,519 Invesco
Fiscal Agent:
280,657 $ 280,657
Fiscal Agent:
1,116,591 $ 1,116,591
Fiscal Agent:
1,292,779 $ 1,292,779
Fiscal Agent:
2,180,123 $ 2,180,123
21 $ 21
Fiscal Agent:
548,734 $ 548,734
613 $ 613
Fiscal Agent:
812,098 $ 812,098
1,177 $ 1,177
7,168,312 $ 7,168,312
US Bank
Invesco
BNY Mellon
HSBC Bank of New York
BNY Mellon
HSBC Bank of New York
BNY Mellon
BNY Mellon
BNY Mellon
BNY Mellon
BNY Mellon
BNY Mellon
BNY Mellon
BNYMellon
BNY Mellon
trj >:: ::r::
H to
H
f-3
I-'
I-'
Page 24City of Carlsbad
Summary of Outstanding Housing Loans
As of June 30, 2017
Loans issued Loan amount Developer loan
#of by City to Loans issued City loan Developer due to City amount due to
First date loans developers/ by Developer # of loans repaid to loan repaid to (recorded as City (not on
Borrower Develoement Pureose issued issued homeowners to homeowners outstanding City City AR) City's books) Type of Loan
Payment deferred 15 years. No interest is due Individual homebuyers City-wide (CHAF Sale 06/28/99 133 $1,680,000 $ 4 ($1,680,000) $ ($0.08) $ (0) unless home is sold before 16th year
Payment deferred 30 years. No interest is due Individual homebuyers Calavera Hills Sale 10/15/99 5 75,000 150,000 1 (60,000) {120,000) 15,000 30,000 45,000 unless home is sold before 31th year
Payment deferred 30 years. No interest is due
Individual homebuyers Cherry Tree Wall Sale 06/28/99 42 453,600 452,600 12 (324,000) {283,250) 129,600 169,350 298,950 unless home is sold before 31th year
Payment deferred 30 years. No interest is due
Individual homebuyers Serrano Sale 05/25/01 90 1,350,000 4,050,000 23 (1,020,135) (2,745,000) 329,865 1,305,000 1,634,865 unless home is sold before 31th year
Individual homebuyers Rancho Carlsbac Sale 05/20/99 22 752,533 5 (592,646) 159,887 159,887 Principal is due when home is sold
Individual homebuyers Solamar Sale 09/26/88 9 147,726 1 (135,065) 12,661 12,661 Principal is due when home is sold
Catholic Charities Homeless shelter Shelter 09/19/97 1 200,000 1 200,000 200,000 Principal is due when property is sold
Principal and 3% interest each year for 30 years
CB Laurel Tree Apartments Laurel Tree Rentals 12/24/98 2 1,134,000 2 (1,134,000) (0) (0) when surplus cash is available
Principal and 3% interest each year for 55 years
USA Properties c/o CFHP Rancho Carrillo Rentals 03/05/01 1 1,157,584 1 (69,016) 1,088,568 1,088,568 when surplus cash is available
Principal and 3% interest each year for 55 years
Pacific Vista Las Flores Vista Las Flores Rentals 02/27/01 1 363,948 1 363,948 363,948 when surplus cash is available
Principal and 3% interest each year for 55 years
Poinsettia Housing Assoc Poinsettia Statior Rentals 10/21/99 1 920,000 1 (458,964) 461,036 461,036 when surplus cash is available
Principal and 3% interest each year for 15 years
Bridge Housing Corp Villa Loma Rentals 11/04/94 2 2,212,000 0 {2,212,000) when surplus cash is available
Principal and 3% interest each year for 55 years
Dove Family Housing La Costa Paloma Rentals 07/15/03 1 2,070,000 1 {2,070,000) (0) (0) when surplus cash is available
Principal and 3% interest each year for 55 years
CIC Calavera LP Mariposa Apts Rentals 09/15/04 1 1,060,000 1 1,060,000 1,060,000 when surplus cash is available
Mulberry at Payment deferred 30 years. No interest is due
Individual homebuyers Bressi Ranch Sale 04/29/05 100 1,840,000 19,660,200 100 1,840,000 19,660,200 21,500,200 unless home is sold before 31th year v111age by tne Payment deferred 30 years. No interest is due
Individual homebuyers Sea Sale 10/28/05 11 220,000 4,087,200 11 220,000 4,087,200 4,307,200 unless home is sold before 31th year
Principal and 3% interest each year for 55 years
El Camino Family Housing Cassia Heights Rentals 03/07/06 1 1,454,276 1 1,454,276 1,454,276 when surplus cash is available
Payment deferred 45 years. No interest is due
Individual homebuyers Laguna Point Sale 07/06/06 3 210,000 2 {70,000) 140,000 140,000 unless home is sold before 46th year
Payment deferred 30 years. No interest is due
Individual homebuyers The Bluffs Sale 06/14/07 10 200,000 10 200,000 200,000 unless home is sold before 31th year
Koosevelt Refer to Agenda Bill 18,569 / ResolLition 2006-131 &
Individual homebuyers Gardens Sale 08/30/07 11 1,583,423 11 1,583,423 1,583,423 AB 19,183 / R2007-255
CIC La Costa Hunter's Point Rentals 08/19/08 1 1,932,000 1 1,932,000 1,932,000 Refer to AB18,251 I Resolution 2005-264
Down Payment & Closing
Cost Assistance Various Assistance 06/25/09 22 255,518 21 (12,500) 243,018 243,018 Refer to Agenda Bi!! 19,415 / Resolution 2008-121
CIC Glen Ridge, LP Glen Ridge Rentals 10/05/09 1 1,014,000 1 1,014,000 1,014,000 Refer to Agenda Bi!! 397 / Resolution 435
Tavarua Senior Apartments,
LP Tavarua Rentals 12/14/11 1 1 Refer to Agenda Bil! 418 / Resolution 475 North t.;ounty ::;01utrons tor Property
Change Acquisition Rentals 06/28/12 1 780,000 1 780,000 780,000 Refer to Agenda Bill 20,936/Resolution 2012-136
Refer to AB19,768/R2009-068; AB20,530/R2011-
Catholic Charities Homeless shelter Shelter 03/01/10 3 507,585 3 507,585 507,585 081; AB20,764/R2011-288
Minor
Individual homeowners N/A Home 05/20/10 11 27,877 6 (2,083) 25,794 25,794 Refer to AB19,415 I Resolution 2008-121
Property
Hospice of North Coast N/A Acquisition 02/27/13 1 1,065,000 1 1,065,000 1,065,000 Refer to AB21, 116/Resolution 2013-027
Carol-Harding Property
Harding Street Neighbors, LP Duplex Acquisition 03/14/13 1 7,408,000 1 7,408,000 7,408,000 Refer to AB21,028/Resolution 2012-235
Tracy Templeton Laguna Point Sale 04/17/13 1 108,150 1 108,150 108,150 TBD trJ Payment deferred 30 years. No interest is due :>::: Thomas & Judy Kim Rose Bay Sale 08/23/13 1 229,775 1 229,775 229,775 unless home is sold before 31th year
Property ::c:
Solutions for Change N/A Acquisition 12/19/14 1 2,646,000 1 2,646,000 2,646,000 Refer to AB21,763/Resolution 2014-243 H
Chelsea Inv Corp/Quarry lJj
Creek CiC LLP Quarry Creek Rentals 08/31/16 1 1,280,000 1 1,280,000 1,280,000 H
1-3
493 $ 34,744,616 $ 28,400,000 229 $ (9,840,409) $ (3,148,250) $ 24,904,207 $ 25,251,750 $ 51,749,336 f-l
June 2017: Issued a $5,000 Minor Home Repair loan. N