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2018-09-11; City Council; ; Report on City Investments as of July 31, 2018
Exhibit 9 shows that the investments out of compliance with the current policy had a subsequent change in credit rating. Ratings on two investments changed from double A (AA) to a single A (A) rating. The city's Investment Policy allows the City Treasu rer to determine the course of action that would correct exceptions to the policy. These investments are paying interest at the requ ired times and their principal is 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. The pooled investment portfolio has the ability to meet the city's cash flow demands for the next six (6) months. Fiscal Analysis None Next Steps The Report on City Investments is produced monthly by the City Treasurer. Environmental Evaluation (CEQA) Pursuant to Public Resources Code section 21065, this action does not constitute a "project" within the meaning of CEQA in that it has no potential to cause either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, and therefore does not require environmental review. Public Notification This 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. First Quarter Transactions 7. Detailed Investment Report 8. Fund Equity in Pooled Investments 9. Corporate Note and Commercial Paper Ratings 10. Pe rcentage Weightings By Corporate Note Issuer September 11, 2018 Item #1 Page 3 of 21 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JULY 31, 2018 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 $15,800,548 $15,302,485 $15,552,627 $15,040,784 $31,186 2.07 2.03 FN 18,808,417 18,783,266 18,574,363 18,562,945 0 1.60 1.60 TR 104,871,642 106,270,008 102,702,578 104,292,448 290,747 1.63 1.62 FA 352,501,972 357,373,293 346,491,629 351,918,719 505,550 1.81 1.78 SN 11,941,202 11,939,347 11,651,804 11,698,326 79,583 2.15 2.15 CN 159,311,835 158,577,036 156,759,320 156,037,526 98,453 2.02 1.98 LAIF 85,913,562 85,767,000 85,913,562 85,767,000 452,634 1.94 1.75 CUSTODY 1,026,850 2,250,114 1,026,850 2,250,114 628 0.75 0.75 SWEEP 2,108,516 171,842 2,108,516 171,842 5,125 1.59 1.59 BANK ACCT 647,045 5,065,353 647,045 5,065,353 0 1.59 1.59 TOTALS $752,931,589 $761,499,745 $741,428,294 $750,805,056 $1,463,906 1.85% 1.80% 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 SN -Supranational l:Ij ::x: ::r: H tJj H f-:3 f-l September 11, 2018 Item #1 Page 4 of 21 CLASS CD FN TR FA SN CN LAIF CUSTODY SWEEP BANK.ACCT TOTALS %TOTALS CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JULY 31, 2018 BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR 1 TO 5 YEARS TOTAL $495,000 $496,000 $14,807,317 $15,798,317 0 5,345,898 12,603,579 17,949,477 17,025,279 11,701 ,252 76,234,696 104,961,228 32,953,195 37,031 ,625 283,542,461 353,527,281 0 0 11 ,924,035 11 ,924,035 20,465,142 14,266,011 125,611 ,713 160,342,866 85,913 ,562 0 0 85 ,913,562 1,026,850 0 0 1,026,850 2,108,516 0 0 2,108,516 647,045 0 0 647,045 $160,634,589 (1) $68,840,785 (1) $524,723,802 $754,199,176 21.3% 9.1% 69.6% 100.0% Total within One Year $229,475,374 (1) POLICY: 30.4% (1) Not less than $183,915,000 to mature within one year. (2/3rds of cutTent year operating budget of $275,876,000.00) (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes. %TOTAL 2.1% 2.4% 13.9% 46.9% 1.6% 21.3% (2) 11.4% 0.1% 0.3% 0.1% 100.0% t:,j >::: :::r:: H to H f-3 I\.) September 11, 2018 Item #1 Page 5 of 21 MARKET YIELD CURVE 6/30/17, 6/30/18, 07 /30/18 3.5 Market Rates 253 111-----------~~----~---~-~-~-~-~-~-~-~-~~~~-~=--~-~-~-~-~~--~--~---~~ • ---• --------- - --· ---------.::------------2 ~ - 1.5 1 0.5 0 3 Mth 2Yr 5 Yr 10 Yr 3 Mth 2Yr 5 Yr IO Yr ~6/30/2017 I 1.01 1.38 1.88 2.30 ~ 6/30/2018 I 1.91 2.53 2.74 2.86 -o• • 7/31/2018 2.02 2.67 2.85 2.96 tij :x: :::r: H ttJ H t-3 w::- September 11, 2018 Item #1 Page 7 of 21 Cumulative Millions$ 15 14 13 12 11 10 , .~ Cumulative Cash Income FY18-19 (July 2018) ~--K" ~~ _,,,,,,. _,,, / --,- / _/ - ¥" --, #"' Monthly Interest Income Millions$ ~ .. ~ _,,~ t- t- - - - 9 8 7 6 5 4 3 2 1 0 ,... %, -~ 8 7 6 5 4 3 2 1 0 .. --,. l'\Y I I I I I I I I I I I Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May June C:Jlnterest Income -+--Budget -a-Actual YTD ·t:rj :x ::r:: H to H 1-3 lJ1 September 11, 2018 Item #1 Page 8 of 21 TRANSACTIONS FOR PERIOD: 07/01 /18 TO 07/31/18 1st QUARTER 2018-2019 Trans Investment Call Date Date ~ Security Date :BUYS JULY 07/23/18 07/24/18 FA FFCB 6/27/2019 07/23/18 07/24/18 FA FHLMC 6/29/2020 07/23/18 07/25/18 CN WALMART INC N/A 07/23/18 07/25/18 CN US BANK 6/23/2023 07/19/18 07/30/18 FA FHLMC 7/28/2020 07/20/18 07/31/18 CD MEDALLION BANK UTAH N/A 07/20/18 07/31/18 CD BANK OF NEW ENGLAND NH N/A TOTAL FIRST QUARTER 2018-2019 ;ty,A"f U~l}"I ES 10/19/15 FA FFCB N/A 05/05/17 FA PEFCO N/A 12/29/15 FA FNMA N/A 07/27/16 FA FNMA 7/27/2017 01/27/15 FA FNMA N/A 10/07/14 TR US TREASURY N/A 01/28/16 CN TOYOTA N/A TOTAL FIRST QUARTER 2018-2019 lbA1..1..s . July 2018 -NONE TOTAL FIRST QUARTER 2018-2019 Par Amount Value Cou~on (Cost) 1,000,000.00 3.200% 999,500.00 1,000,000.00 3.100% 1,000,000.00 1,500,000.00 3.400% 1,512,000.00 1,250,000.00 3.400% 1,251 ,625.00 2,500,000.00 3.070% 2,500,000.00 249,000.00 3.250% 249,000.00 249,000.00 3.250% 249,000.00 7,748,000.00 7,761,125.00 3,000,000.00 1.030% 3,000,000.00 1,251 ,000.00 1.875% 1,260,294.93 1,000,000.00 1.125% 997,610.00 3,000,000.00 0.875% 2,997,750.00 1,100,000.00 1.000% 1,096,139.00 1,400,000.00 1.375% 1,400,251.69 2,000,000.00 1.550% 2,014,400.00 12,751,000.00 12,766,445.62 Return Rate Interest 3.211% 158,100.00 3.100% 152,847.22 3.220% 238,891 .66 3.371 % 210,756.94 3.070% 383,323.61 3.250% 40,462.50 3.250% 40,462.50 3.181 % 1,224,844.43 1.030% 84,460.00 1.240% 18,722.26 1.220% 31,171 .25 0.913% 54,750.00 1.102% 42,452.67 1.370% 73,191 .24 1.252% 61 ,808.33 1.117% 366,555.75 Investment Return 1,157,600.00 1,152,847.22 1,750,891 .66 1,462,381 .94 2,883,323.61 289,462.50 289,462.50 8,985,969.43 3,084,460.00 1,279,017.19 1,028,781.25 3,052,500.00 1,138,591 .67 1,473,442.93 2,076,208.33 13,133,001.37 t:rj :x: :::c:: H td H 8 O'\ September 11, 2018 Item #1 Page 9 of 21 INVESTMENT REPORT AS OF JULY 31, 2018 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davsl 6/13/2017 FA FAMCA 1.12% NON-CALL 1,000,000.00 998,290.00 1.120% 14,403.33 1,012,693.33 414 5/5/2014 FA FFCB 1.6% NON-CALL 2,500,000.00 2,515,710.93 1.450% 157,622.40 2,673,333.33 1,584 10/27/2015 FA FHLB 1.125% NON-CALL 4,000,000.00 4,020,840.00 0.941% 108,785.00 4,129,625.00 1,053 5/2/2014 FA FNMA 1.875% NON-CALL 1,500,000.00 1,524,000.00 1.500% 99,125.00 1,623,125.00 1,600 1/16/2014 FA FHLMC 1.20% CALL 9/24/14 ONE TIME 2,250,000.00 2,196,562.50 1.729% 180,037.50 2,376,600.00 1,712 5/23/2016 FA FNMA 1.125% NON-CALL 2,000,000.00 2,006,660.00 0.984% 47,465.00 2,054,125.00 879 3/30/2015 FA FHLB 1.30% NON-CALL 1,000,000.00 1,000,000.00 1.300% 46,583.33 1,046,583.33 1,310 5/2/2014 FA FNMA 1.625% NON-CALL 2,000,000.00 2,008,347.18 1.530% 140,159.76 2,148,506.94 1,670 6/3/2014 FA FNMA 1.625% NON-CALL 2,000,000.00 2,010,791 .92 1.500% 134,826.14 2,145,618.06 1,638 7/21/2015 FA FNMA 1.50% NON-CALL 1,000,000.00 1,006,875.00 1.290% 43,500.00 1,050,375.00 1,228 5/15/2015 FA FNMA 1.25% CALL 6/14/15 QRTL Y 1,000,000.00 997,500.00 1.322% 47,256.94 1,044,756.94 1,309 6/5/2015 FA FHLB 1.75% NON-CALL 2,000,000.00 2,034,100.00 1.254% 16,625.00 2,050,725.00 1,288 2/20/2015 FA FNMA 1.1 % NON-CALL 1,000,000.00 992,180.00 1.300% 49,925.56 1,042,105.56 1,397 10/28/2015 FA FFCB 1.15% CALL 1/28/16 4,650,000.00 4,648,837.50 1.158% 174,956.25 4,823,793.75 1,188 11/2/2015 FA FNMA 1.20% CALL 4/29/16 5,000,000.00 4,992,500.00 1.247% 202,000.00 5,194,500.00 1,184 2/26/2016 FA FFCB 1.03% NON-CALL 4,000,000.00 4,004,640.00 0.990% 117,357.78 4,121 ,997.78 1,096 12/9/2014 FA FNMA 1.75% NON-CALL 2,500,000.00 2,515,625.00 1.596% 168,854.17 2,684,479.17 1,541 12/12/2014 FA FNMA 1.70% NON-CALL 1,852,000.00 1,863,630.56 1.545% 120,864.61 1,984,495.17 1,538 10/6/2014 FA FHLB 1.875% NON-CALL 2,000,000.00 2,011,440.00 1.875% 154,393.33 2,165,833.33 1,614 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 10/3/2017 FA FHLB 1.375% ONE CALL 4/26/19 1,800,000.00 1,796,328.00 1.489% 48,565.75 1,844,893.75 661 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 trj ::x: 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 ::r: 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 H to 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 H 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 -.J 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 September 11, 2018 Item #1 Page 10 of 21 INVESTMENT REPORT AS OF JULY 31, 2018 - INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 6/11/2018 FA FHLB 2.15% CALL 2/14/19 QRTL Y 1,500,000.00 1,491 ,780.00 2.485% 62,238.75 1,554,018.75 613 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 FA PEFCO 2.25% NON-CALL 3,000,000.00 3,099,000.00 1.358% 158,250.00 3,257,250.00 1,392 5/4/2018 FA TENN VALLEY AUTHORITY 2.25% NON-CALL 1,700,000.00 1,692,265.00 2.500% 79,028.75 1,771 ,293.75 681 6/12/2018 FA TENN VALLEY AUTHORITY 2.25% NON-CALL 1,250,000.00 1,244,200.00 2.520% 55,253.13 1,299,453.13 642 6/11/2018 FA TENN VALLEY AUTHORITY 2.25% NON-CALL 1,250,000.00 1,244,622.50 2.500% 54,908.75 1,299,531 .25 643 8/29/2017 FA FFCB 1.67% CALL 7/2/18 CONT 2,000,000.00 1,999,600.00 1.678% 87,054.44 2,086,654.44 948 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 12/15/2017 FA FAMCA 1.64% NON-CALL 1,500,000.00 1,487,706.00 2.000% 69,830.67 1,557,536.67 854 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 5/4/2018 FA FHLMC 1.50% CALL 5/11/18 QRTLY 2,000,000.00 1,989,000.00 2.579% 104,083.33 2,093,083.33 738 11/3/2017 FA FHLB 1.7% ONE CALL 5/15/19 1,650,000.00 1,650,000.00 1.700% 71 ,060.00 1,721,060.00 924 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% ON E 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 QRTL Y 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 4/13/2018 FA FFCB 1.29% CALL 4/19/18 CONT 2,000,000.00 1,948,000.00 2.485% 110,050.00 2,058,050.00 822 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 1,896,868.75 1,430 4/13/2018 FA FFCB 2.47% CALL 6/15/18 CONT 1,750,000.00 1,748,757.50 2.500% 105,943.06 1,854,700.56 886 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 4/23/2018 FA FNMA 1.9% CALL 7/27/18 CONT 1,750,000.00 1,721 ,125.00 2.583% 112,369.44 1,833,494.44 918 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 11/27/2017 FA FHLMC 1.875% ONE CALL 11/27/18 1,500,000.00 1,500,000.00 1.875% 84,375.00 1,584,375.00 1,096 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 6/2112016 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 10/19/16 CONT 3,500,000.00 3,500,000.00 1.400% 220,500.00 3,720,500.00 1,645 September 11, 2018 Item #1 Page 11 of 21 INVESTMENT REPORT AS OF JULY 31, 2018 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 8/16/2017 FA FNMA 1.75% CALL 8/16/18 2,000,000.00 2,000,000.00 1.750% 122,500.00 2,122,500.00 1,280 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 2/14/2018 FA FHLB 2.375% NON-CALL 1,500,000.00 1,500,768.00 2.357% 108,778.87 1,609,546.87 1,122 6/12/2018 FA FHLB 1.75% NON-CALL 1,000,000.00 976,760.00 2.631% 71 ,365.00 1,048,125.00 1,004 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 9/29/2017 FA FHLMC 1.75% ONE CALL 9/26/18 2,535,000.00 2,531,197.50 1.794% 158,701 .56 2,689,899.06 1,274 10/26/2017 FA FHLMC 1.85% ONE CALL 10/26/18 1,975,000.00 1,974,012.50 1.865% 128,868.75 2,102,881 .25 1,278 4/26/2018 FA FHLB 2.68% CALL 4/26/19 CONT 2,000,000.00 2,000,000.00 2.680% 160,800.00 2,160,800.00 1,096 4/28/2016 FA FHLMC 1.25% QRTL Y 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 9/12/2017 FA FHLB 1.875% CALL 9/18/17 CONT 2,500,000.00 2,498,750.00 1.875% 175,598.96 2,674,348.96 1,358 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 4/24/2018 FA FHLB 1.0% CALL 7/27/18 QRTLY 1,400,000.00 1,358,518.00 2.743% 141 ,348.67 1,499,866.67 1,190 10/2/2017 FA FHLMC 2.0% ONE CALL 7/27/18 3,000,000.00 3,004,500.00 1.959% 224,666.67 3,229,166.67 1,394 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 12/19/2017 FA FHLMC 1.125% NON-CALL 1,000,000.00 967,646.98 2.050% 73,384.27 1,041 ,031.25 1,332 5/1/2018 FA FFCB 1.84% CALL 5/7/18 CONT 2,000,000.00 1,946,000.00 2.684% 177,893.33 2,123,893.33 1,231 12/11/2017 FA FFCB 2.0% CALL 10/05/18 CONT 2,750,000.00 2,739,907.50 2.100% 220,009.17 2,959,916.67 1,394 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 1/3/2018 FA FAMCA 1.625% QRTL Y CALL 2,000,000.00 1,951 ,928.00 2.285% 172,294.22 2,124,222.22 1,395 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 1/7/1900 FA FFCB 2.23% CALL CONT 3,000,000.00 2,992,500.00 2.296% 272,870.00 3,265,370.00 44,544 2/27/2018 FA FFCB 2.73% CALL CONT 1,800,000.00 1,800,000.00 2.730% 194,785.50 1,994,785.50 1,448 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 5/23/2018 FA FHLMC 3.0% CALL 11/23/18 QRTLY 3,000,000.00 3,000,000.00 3.000% 337,500.00 3,337,500.00 1,372 3/9/2018 FA FFCB 2.8% CALL 2/28/19 CONT 1,250,000.00 1,249,687.50 2.807% 139,243.06 1,388,930.56 1,452 3/13/2018 FA FFCB 2.8% DUE CALL 2/28/19 CONT 1,250,000.00 1,250,000.00 2.800% 138,541.67 1,388,541.67 1,448 3/7/2018 FA FFCB 2.85% CALL 6/7/18 CONT 1,250,000.00 1,250,000.00 2.850% 142,500.00 1,392,500.00 1,461 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 8/18/2017 FA FFCB 1.92% CALL 4/19/17 CONT 2,000,000.00 1,992,860.00 2.200% 186,446.67 . 2,179,306.67 1,705 11/3/2017 FA FHLB 2.0% ONE CALL 10/25/19 2,000,000.00 1,998,000.00 2.020% 181 ,111.11 2,179,111 .11 1,634 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 3/9/2018 FA FHLMC 2.070% CALL 6/14/18 QRTLY 1,000,000.00 980,000.00 2.568% 108,262.50 1,088,262.50 1,558 6/5/2018 FA FFCB 1.83% CALL 6/11/18 CONT 1,000,000.00 965,500.00 2.740% 108,208.33 1,073,708.33 1,471 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 September 11, 2018 Item #1 Page 12 of 21 INVESTMENT REPORT AS OF JULY 31, 2018 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 12/19/2017 FA FHLMC 2.15% QRTL Y CALL 1,500,000.00 1,494,000.00 2.243% 152,020.83 1,646,020.83 1,653 1/8/2018 FA FHMC 2.22% ONE CALL 7/1/20 1,500,000.00 1,500,000.00 2.220% 149,202.50 1,649,202.50 1,635 4/27/2018 FA FHLMC 1.75% CALL 7/18/18 QRTLY STEP 1,000,000.00 981 ,100.00 2.901% 121 ,837.50 1,102,937.50 1,543 11/3/2017 FA FFCB 2.15% CALL 1/26/18 CONT 1,400,000.00 1,400,000.00 2.150% 142,389.72 1,542,389.72 1,726 4/17/2018 FA FFCB 1.670% CALL 4/23/18 CONT 2,000,000.00 1,912,000.00 2.750% 233,290.00 2,145,290.00 1,589 12/1/2017 FA FHLB 2.0% NON-CALL 1,750,000.00 1,739,692.50 2.130% 177,335.28 1,917,027.78 1,743 12/1/2017 FA FFCB 1.94% CALL 9/12/18 CONT 1,250,000.00 1,236,950.00 2.1 71% 128,978.47 1,365,928.47 1,746 2/26/2018 FA FHLB 1.45% CALL 3/13/18 QTRLY STEP 2,000,000.00 1,997,000.00 3.772% 348,619.44 2,345,619.44 1,660 9/28/2017 FA FNMA 2.0% ONE CALL 9/28/18 2,500,000.00 2,500,000.00 2.000% 249,861 .11 2,749,861.11 1,826 3/9/2018 FA FNMA 2.0% NON-CALL 1,000,000.00 971 ,120.00 2.000% 120,324.44 1,091 ,444.44 1,671 10/26/2017 FA FHLMC 2.05% CALL 1/26/18 3,250,000.00 3,250,000.00 2.342% 382,687.50 3,632,687.50 1,826 11/30/2017 FA FHLMC 2.05% CALL 1/26/18 2,500,000.00 2,500,000.00 2.300% 287,180.56 2,787,180.56 1,824 4/24/2018 FA FHLB 2.5% NON-CALL 2,250,000.00 2,215,102.50 2.500% 295,053.75 2,510,156.25 1,690 12/27/2017 FA FHLMC 2.30% CALL 12/27/19 3,000,000.00 3,000,000.00 2.300% 345,000.00 3,345,000.00 1,826 12/29/2017 FA FHLMC 2.5% CALL 3/29/18 2,000,000.00 2,000,000.00 2.500% 250,000.00 2,250,000.00 1,826 3/9/2018 FA FHLMC 2.55% 1/30/19 QRTLY 2,000,000.00 1,970,800.00 2.872% 278,675.00 2,249,475.00 1,788 2/23/2018 FA FHLB 2.63% NON-CALL 2,750,000.00 2,722,500.00 2.848% 384,705.14 3,107,205.14 1,804 4/10/2018 FA FHLMC 2.625% CALL QRTL Y 2,500,000.00 2,474,500.00 2.851% 343,781.25 2,818,281 .25 1,773 2/13/2018 FA FH LB 2.850% CALL 2/28/19 CONT 1,000,000.00 1,000,000.00 2.850% 142,500.00 1,142,500.00 1,841 3/13/2018 FA FHLMC 2.25% CALL 8/28/18 QRTL Y STEP 1,250,000.00 1,250,000.00 3.129% 195,703.12 1,445,703.12 1,813 3/27/2018 FA FHLMC 3.05% CALL 6/27/18 QRTLY 3,000,000.00 3,000,000.00 3.050% 457,500.00 3,457,500.00 1,826 5/4/2018 FA FFCB 3.0% CALL 4/25/19 CONT 2,500,000.00 2,496,250.00 3.033% 376,875.00 2,873,125.00 1,817 4/27/2018 FA FHLMC 3.05% CALL 7/27/18 QRTL Y 2,000,000.00 2,000,000.00 3.050% 305,000.00 2,305,000.00 1,826 5/4/2018 FA FHLMC 3.05% CALL 7/27/18 QRTL Y 2,415,000.00 2,412,585.00 3.072% 369,270.27 2,781,855.27 1,819 6/4/2018 FA FHLMC 3.05% CALL 6/26/20 ONE CALL 1,250,000.00 1,250,000.00 3.050% 190,625.00 1,440,625.00 1,848 7/24/2018 FA FFCB 3.2% CALL 6/27/19 CONT 1,000,000.00 999,500.00 3.211% 158,100.00 1,157,600.00 1,799 7/24/2018 FA FHLMC 3.10% CALL 6/29/20 ONE CALL 1,000,000.00 1,000,000.00 3.100% 152,847.22 1,152,847.22 1,801 7/30/2018 FA FHLMC 3.07% CALL 7/28/20 ONE TIME 2,500,000.00 2,500,000.00 3.070% 383,323.61 2,883,323.61 1,824 SUB-TOTAL 352,464,000.00 353,527,280.84 1.811 % 25,912,744.72 379,440,025.56 1,695 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 19,1 63,000.00 1,367 Federal Investments Total 371,627,000.00 371,476,757.88 27,126,267.68 398,603,025.56 1,679 September 11, 2018 Item #1 Page 13 of 21 INVESTMENT REPORT AS OF JULY 31, 2018 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 8/3/2017 SN IBRD 1.125% NON-CALL 2,000,000.00 1,972,100.00 1.600% 95,837.50 2,067,937.50 1,103 1/8/2018 SN IBRD 1.625% ONE CALL 4/5/19 STEP 1,500,000.00 1,486,500.00 2.164% 88,765.62 1,575,265.62 1,001 1/8/2018 SN IADB 2.125% NON-CALL 2,000,000.00 1,988,880.00 2.270% 182,300.56 2,171 ,180.56 1,471 10/10/2017 SN IBRD 1.875% NON-CALL 1,300,000.00 1,290,907.89 2.024% 130,763.88 1,421,671.77 1,823 12/18/2017 SN IBRD 2.00% NON-CALL 2,500,000.00 2,485,325.00 2.150% 219,952.78 2,705,277.78 1,500 1/18/2018 SN IADB 2.50% NON-CALL 1,700,000.00 1,702,652.00 2.467% 209,848.00 1,912,500.00 1,826 1/24/2018 SN IADB 2.50% NON-CALL 1,000,000.00 997,670.00 2.550% 126,913.33 1,124,583.33 1,820 Supranational Investment Total 12,000,000.00 11,924,034.89 2.146% 1,054 ,381.67 12,978,416.56 1,506 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 September 11, 2018 Item #1 Page 14 of 21 INVESTMENT REPORT AS OF JULY 31, 2018 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 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 2/20/2018 TR US TREASURY 1.125% 2,000,000.00 1,911 ,080.00 2.450% 168,167.24 2,079,247.24 1,288 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 2/14/2018 TR US TREASURY 2.125% 1,500,000.00 1,486,406.25 2.387% 129,096.84 1,615,503.09 1,324 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 .1 5 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 8/25/2017 TR US TREASURY 1.875% 1,250,000.00 1,257,346.25 1.750% 108,249.03 1,365,595.28 1,801 8/31/2017 TR US TREASURY 1.875% 3,000,000.00 3,019,290.00 1.740% 261 ,960.00 3,281,250.00 1,826 11/28/2017 TR US TREASURY 1.625% 1,000,000.00 980,950.00 2.030% 99,716.44 1,080,666.44 1,813 SUB-TOTAL 105,040,000.00 104,961 ,228.07 1.625% 7,308,196.02 112,269,424.09 1,488 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 TOYOTA 2.125% NON-CALL 2,000,000.00 2,009,760.00 1.998% 160,476.11 2,170,236.11 1,463 1/22/2018 CN WELLS FARGO BANK 1.75% NON-CALL 3,000,000.00 2,983,050.00 2.180% 87,241.67 3,070,291 .67 610 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 12/13/2017 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 2,500,000.00 2,512,725.00 1.190% 92,660.83 2,605,385.83 702 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 1/17/2018 CN WELLS FARGO BANK 2.15% 2,500,000.00 2,499,750.00 2.155% 101 ,628.47 2,601 ,378.47 688 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 September 11, 2018 Item #1 Page 15 of 21 INVESTMENT REPORT AS OF JULY 31, 2018 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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-WHOLI 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 11/13/2017 CN APPLE INC 2.0% MAKE WHOLE CALL 2,500,000.00 2,497,900.00 2.000% 152,100.00 2,650,000.00 1,096 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 2/26/2018 CN WELLS FARGO BANK 2.6% NON-CALL 2,000,000.00 1,982,700.00 2.914% 167,377.77 2,150,077.77 1,054 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 6/13/2018 CN CHEVRON 2.1 % MAKE WHOLE 3,250,000.00 3,175,770.00 2.920% 273,861.25 3,449,631 .25 1,068 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 2/22/2018 CN MIRCOSOFT 1.55% MAKE WHOLE CALL 1,500,000.00 1,441 ,912.50 2.730% 138,558.33 1,580,470.83 1,263 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 1/10/2018 CN COCA COLA 3.30% MAKE WHOLE CALL 1,500,000.00 1,549,740.00 2.344% 130,522.50 1,680,262.50 1,330 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 10/10/2017 CN PROCTER & GAMBLE 1.7% NON-CALL 2,000,000.00 1,982,100.00 1.930% 156,072.22 2,138,172.22 1,485 12/4/2017 CN COLGATE PALMOLIVE 2.450% MAKE WHOLE 2,250,000.00 2,271 ,141.00 2.200% 196,449.62 2,467,590.62 1,442 12/20/2017 CN MICROSOFT 2.4% MAKE WHOLE 1,250,000.00 1,254,025.00 2.316% 119,808.33 1,373,833.33 1,509 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 12/6/2017 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE CALL 1,503,000.00 1,540,770.39 2.400% 162,504.36 1,703,274.75 1,621 1/8/2018 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE CALL 1,000,000.00 1,023,300.00 2.432% 107,283.33 1,130,583.33 1,588 8/24/2017 CN TOYOTA 2.8% MAKE WHOLE 1,500,000.00 1,547,160.00 2.119% 158,056.67 1,705,216.67 1,784 11/6/2017 CN PROCTER & GAMBLE 2.15% MAKEWHOLE 1,800,000.00 1,799,161.20 2.160% 185,201.30 1,984,362.50 1,739 1/18/2018 CN NOVARTIS CAPITAL CORP 2.4% MAKEWHOLD 1,500,000.00 1,489,500.00 2.560% 178,400.00 1,667,900.00 1,707 1/4/2018 CN COLGATE-PALMOLIVE 2.25% MAKEWHOLE 2,000,000.00 1,982,400.00 2.443% 236,475.00 2,218,875.00 1,776 12/6/2017 CN TOYOTA 2.125% NON-CALL FLOATING 2,250,000.00 2,250,000.00 2.125% 238,132.81 2,488,132.81 1,819 1/24/2018 CN TOYOTA 2.75% NON-CALL FLOATING 3,000,000.00 3,000,000.00 2.750% 412,500.00 3,412,500.00 1,828 3/20/2018 CN BERKSHIRE HATHAWAY 2.75% MAKEWHOLE 1,000,000.00 983,890.00 3.101% 153,228.06 1,137,118.06 1,821 4/18/2018 CN BERKSHIRE HATHAWAY 2.75% MAKEWHOLE 1,750,000.00 1,719,130.00 3.140% 267,083.54 1,986,213.54 1,792 4/25/2018 CN BERKSHIRE HATHAWAY 2.75% MAKEWHOLE 2,000,000.00 1,953,300.00 3.270% 315,588.89 2,268,888.89 1,785 5/7/2018 CN WALMART 2.55% CALL 1/11/23 1,000,000.00 974,100.00 3.121% 151 ,558.33 1,125,658.33 1,800 5/2/2018 CN COLGATE-PALMOLIVE 2.10% MAKE WHOLE 4,666,000.00 4,443,179.84 3.140% 712,477.98 5,1 55,657.82 1,825 5/9/2018 CN APPLE INC 2.4% MAKE WHOLE 4,000,000.00 3,862,600.00 3.150% 615,800.00 4,478,400.00 1,820 7/25/2018 CN WALMART 3.40% MAKE WHOLE 1,500,000.00 1,512,000.00 3.220% 238,891.66 1,750,891.66 1,797 7/24/2018 CN US BANK 3.4% CALL 6/23/23 ONE TIME 1,250,000.00 1,251,625.00 3.371% 210,756.94 1,462,381.94 1,826 SUB-TOTAL 159,247,000.00 160,342,865.59 2.015% 13,709,451.21 174,052,316.80 1,521 September 11, 2018 Item #1 Page 16 of 21 INVESTMENT REPORT AS OF JULY 31, 2018 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 2.1 5% 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 1,826 9/24/2014 CD GOLDMAN SACHS BANK 2.15% 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 1,826 10/8/2014 CD CAPITAL ONE ABANK USA 2.10% 247,000.00 247,000.00 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 NATL ASSOC 1.9% 247,000.00 247,000.00 1.900% 23,465.00 270,465.00 1,827 12/3/2014 CD CIT BANK SALT LAKE CITY 2.2% 247,000.00 247,000.00 2.200% 27,170.00 274,170.00 1,826 12/4/2014 CD AMERICAN EXPRESS CENTURION 2.2% 247,000.00 247,000.00 2.200% 27,170.00 274,170.00 1,826 12/10/2014 CD BMW BANK OF N AMERICA 2.15% 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 1,826 12/23/2014 CD SALLIE MAE BANK SALT LAKE 2.2% 247,000.00 247,000.00 2.200% 26,976.46 273,976.46 1,813 12/21/2017 CD MORGAN STANLEY BANK 2.1% 247,000.00 247,000.00 2.100% 10,402.82 257,402.82 732 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 1/26/2018 CD FLAGSTAR BANK 2.15% 247,000.00 247,000.00 2.150% 10,635.75 257,635.75 731 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 8/2/2017 CD WEX BANK 1.85% 247,000.00 247,000.00 1.850% 13,721 .19 260,721.19 1,097 8/11/2015 CD INVESTOR BANK 2.0% 247,000.00 247,000.00 2.000% 24,700.00 271 ,700.00 1,841 9/10/2015 CD MERRICK BANK 1.85% 249,000.00 248,377.50 1.910% 23,655.00 272,032.50 1,827 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 12/14/2017 CD ALLY BANK 2.10% 247,000.00 247,000.00 2.100% 15,561 .00 262,561.00 1,096 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 5/9/2018 CD CONNECTONE BANK 2.85% 249,000.00 249,000.00 2.850% 21 ,309.21 270,309.21 1,097 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 6/21/2018 CD MERCANTIL BANK 3.0% 246,000.00 246,000.00 3.000% 22,140.00 268,140.00 1,096 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 September 11, 2018 Item #1 Page 17 of 21 INVESTMENT REPORT AS OF JULY 31, 2018 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 9/21/2017 CD PINACLE BANK TN 2.00% 249,000.00 249,000.00 2.000% 19,920.00 268,920.00 1,461 1/12/2018 CD LCA BANK CORPORATION 2.3% 246,000.00 246,000.00 2.300% 22,632.00 268,632.00 1,461 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 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 7/31/2017 CD KS STATE BANK 2.1% 245,000.00 245,000.00 2.100% 25,710.71 270,710.71 1,824 8/16/2017 CD EVERBANK 2.2% 247,000.00 247,000.00 2.200% 27,170.00 274,170.00 1,826 8/30/2017 CD WILLAMETTE VALLEY BANK 2.1 % 249,000.00 249,000.00 2.100% 26,145.00 275,145.00 1,826 9/29/2017 CD ALLEGIANE BANK TEXS 2.15% 249,000.00 249,000.00 2.150% 26,767.50 275,767.50 1,826 9/14/2017 CD FIRST BANK OF HIGHLAND 2.15% 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 1,826 10/18/2017 CD BENEFICIAL BANK 2.15% NON-CALL 247,000.00 247,000.00 2.1 50% 26,552.50 273,552.50 1,826 12/22/2017 CD INDUSTRIAL & COML BAK CHINA 2.5% NON-CALL 249,000.00 249,000.00 2.500% 31,125.00 280,125.00 1,826 1/29/2018 CD SUNTRUST BANK 2.30% CALL 1/30/20 STEP 246,000.00 245,508.00 2.792% 34,547.50 280,055.50 1,827 4/24/2018 CD CITIBANK 3.0% NON-CALL 246,000.00 246,000.00 3.000% 36,900.00 282,900.00 1,826 5/16/2018 CD BELMONT SAVINGS BANK 3.05% 245,000.00 245,000.00 3.050% 37,362.50 282,362.50 1,826 6/20/2018 CD RBC BANK 3.15% NON-CALL 249,000.00 249,000.00 3.150% 39,217.50 288,217.50 1,826 7/31/2018 CD BANK OF NEW ENGLAND 3.25% NON-CALL 249,000.00 249,000.00 3.250% 40,462.50 289,462.50 1,826 7/31/2018 CD MEDALLION BANK UT AH 3.25% NON-CALL 249,000.00 249,000.00 3.150% 40,462.50 289,462.50 1,826 SUB-TOTAL 15,802,000.00 15,798,316.70 2.066% 1,504,101.69 17,302,418.39 1,669 0 WELLS FARGO BANK -General Fund 647,045.00 647,045.00 1.591 % 28.20 647,073.20 0 CORPORATE CASH MANAGEMENT ACCOUNT 2,108,516.44 2,1 08,516.44 1.591 % 91.91 2,108,608.35 0 LIBRARY ACCOUNT 0.000% 0 WELLS FARGO CUSTODY 1,026,849.71 1,026,849.71 0.750% 21.39 1,026,871.10 0 LA IF WATER DISTRICT 21 ,926,000.00 21 ,926,000.00 1.940% 1,181.57 21,927,181.57 0 LA I F PUBLI C IMPROVEMENT CORPORATION 22,575,287.30 22,575,287.30 1.940% 1,216.56 22,576,503.86 0 LA I F PUBLIC FINANCING CORPORATION 20,312,274.30 20,312,274.30 1.940% 1,094.61 20,313,368.91 0 L A I F CITY OF CARLSBAD 21 ,100,000.00 21,100,000.00 1.940% 1,137.06 21,101,137.06 SUB-TOTAL 89,695,972.75 89,695,972.75 1.916% 4,771.29 89,700,744.04 GRAND TOTAL 753,411,972.75 754,199,175.88 1.847% 49,652,787.89 791 ,927 ,928.88 September 11, 2018 Item #1 Page 18 of 21 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF JULY 31, 2018 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 Gas Tax Other Capital Construction Enterprise: Carlsbad Municipal Water District Sewer Fund Solid Waste Storm Water Golf Course Total Total Internal Service Agency Funds Trust Funds Total General Ledger Balance** Reconciling Adjustments (1) Total Treasurer's Investment Portfolio at Amortized Cost 45,047,530 22,017,106 27,939,395 8,381,902 5,500,908 6,678,649 98,707,105 118,843,128 13,616,853 3,373,052 129,609,459 46,002,204 7,039,284 7,734,297 1,116,164 EXHIBIT 8 107,722,105 33,688,742 350,105,627 191,501,408 48,596,856 21,692,283 3,200,527 756,507,548 (3,575,959) 752,931,589 (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 8/10/18. September 11, 2018 Item #1 Page 19 of 21 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of JULY 31, 2018 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 COLGATE-PALMOLI VE 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 NOVARTIS CAPITAL CORP A1 AA-AA PROCTOER & GAMBLE Aa3 AA-NR ROYAL BANK OF CANADA Aaa AAA AAA TOYOTA Aa3 AA-A US BANK A1 AA- AA- WAL-MART Aa2 AA AA WELLS FARGO BANK Aa2 A+ AA- Commercial Paper Investments Meeting the Current Investment Policy: (Ratings must be A 1/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 Moody's S&P Fitch Maturity Date COCA COLA Aa3 A+ A+ 09/21/2021 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 limes. 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 Value 8,630,004 7,351,901 3,522,964 Market Value 8,453,874 7,243,885 3,438,225 September 11, 2018 Item #1 Page 20 of 21 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JULY 31, 2018 WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS PERCENTAGE WEIGHTINGS BY CORPORA TE NOTE ISSUER Investment Cost ADP 4,029,600.00 ALPHABET, INC 5,364,100.00 APPLE INC 16,264,675.00 BERKSHIRE HATHAWAY 7,220,390.39 CHEVRON 14,307,799.00 COCA COLA CO 8,623,092.17 COLGATE-PALMOLIVE 8,696,720.84 EXXON MOBIL 11,397,155.00 IBM CORP 7,730,433.50 JOHNSON & JOHNSON 7,443,878.49 MASS MUTUAL 6,842,020.00 MICROSOFT 19,234,617.50 3M COMPANY 3,554,215.00 NEW YORK LIFE 6,032,140.00 NOVARTIS CAPTIAL CORP 1,489,500.00 PROCTER & GAMBLE 3,781 ,261.20 ROYAL BANK OF CANADA 2,289,442.50 TOYOTA 14,838,600.00 US BANK 1,251 ,625.00 WALMART 2,486,100.00 WELLS FARGO BANK 7,465,500.00 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 SUPRANATIONAL-IBRD 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 15,240,655.00 8,733,759.39 75,202,400.93 81,219,161.04 92,923,578.98 79,665,232.14 8,244,462.90 2,750,760.00 7,496,747.50 11 ,924,034.89 104,961,228.07 Percent of Portfolio* 0.52% 0.70% 2.12% 0.94% 1.86% 1.12% . 1.13% 1.48% 1.01% 0.97% 0.89% 2.51% 0.46% 0.79% 0.19% 0.49% 0.30% 1.93% 0.16% 0.32% 0.97% Percent of Portfolio** 1.99% 1.14% 9.80% 10.58% 12.10% 10.38% 1.07% 0.36% 0.98% 1.55% 13.67% $767,762,832.64 EXHIBIT 10 September 11, 2018 Item #1 Page 21 of 21