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HomeMy WebLinkAbout2019-05-21; City Council; ; Report on City Investments as of March 31, 2019~ CITY COUNCIL ~ Staff Report Meeting Date To: From: May 21, 2019 Mayor and Council Members Scott Chadwick, City Manager CA Review v,,G- Staff Contact: Craig Lindholm, City Treasurer; Laura Rocha, Administrative Services Director, Laura.Rocha@carlsbadca.gov or 760-602-2415 Subject: Report on City Investments as of March 31, 2019 Recommended Action Accept and file report. Executive Summary The city's Investment Policy requires the City Treasurer to report to the City Council monthly the status of the city's pooled investment portfolio. A quarterly report is also required for the investments of bond proceeds held separately. Discussion The city's pooled investment portfolio as of the month ended March 31, 2019 is summarized below. I Pooled Investment Portfolio {Cash and Securities} Current Month Prior Month Par Value $778,744,893 $788,029,059 Cost of Investments $778,138,790 $787,721,391 Amortized Cost (1) $777,861,524 $787,064,165 Market Value (2) $772,743,120 $781,963,790 (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 Wells Fargo Bank's custodial report as of 3/31/19. 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. I May 21, 2019 Item #1 Page 1 of 26 All pooled investments have been made in accordance with the city's Investment Policy adopted January 2, 1985 and last revised May 7, 2019. 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 out of compliance with the current policy had a subsequent change in credit rating. Ratings on three investments changed from double A (AA) to a single A (A) rating. The city's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. These investments are paying interest at the required 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. May 21, 2019 Item #1 Page 3 of 26 Exhibits 1. Investment Portfolio Breakdown by Amortized Cost, Market Value, Cash Income, and Average Yield 2. Investment Portfolio Breakdown of Maturities 3. Yield Comparison Graph 4. Market Yield Curve 5. Cumulative Cash Income Graph 6. Third Quarter Maturities, Purchases and Calls 7. Detailed Investment Report 8. Fund Equity in Pooled Investments 9. Corporate Note and Commercial Paper Ratings 10. Percentage Weightings by Corporate Note Issuer May 21, 2019 Item #1 Page 4 of 26 AS OF MARCH 31, 2019 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 f>_rior Month CD $17,758,317 $18,007,976 $17,648,314 $17,895,279 $237,333 2.19 2.18 FN 16,375,579 17,315,419 17,203,127 17,203,127 32,761 1.60 1.60 TR 81,842,387 86,885,412 80,652,046 85,648,596 1,268,681 1.72 1.68 FA 375,249,181 365,383,476 371,800,407 362,719,358 4,856,312 1.88 1.94 SN 17,469,526 17,504,536 17,378,123 17,378,123 197,136 2.12 1.80 CN 168,533,908 166,993,288 167,150,211 166,145,248 2,645,524 2.29 2.28 LAIF 95,930,393 105,430,393 95,930,393 105,430,393 1,474,612 2.39 2.37 CUSTODY 200,464 1,989,340 200,464 1,989,340 3,568 1.59 1.59 SWEEP 4,320,017 7,080,683 4,320,017 7,080,683 58,127 2.00 2.00 BANK ACCT 460,020 473,644 460,020 473,644 0 2.00 2.00 -- TOTALS $778,139,792 $787,064,165 $772,743,122 $781,963,790 $10,774,055 2.02% 2.03% 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 m X :::c ca =i .... May 21, 2019 Item #1 Page 5 of 26 CLASS CD FN TR FA SN CN LAIF CUSTODY SWEEP BANK ACCT TOTALS % TOTALS CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF MARCH 31, 2019 BREAKDOWN OF MATURITIES BY CLASS/FICA TION AND LENGTH OF TIME (MARKET VALUE) WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR 1 TO 5 YEARS TOTAL 1,974,208 3,946,779 11,727,327 $17,648,314 9,209,493 5,119,244 2,874,390 17,203,127 7,835,221 3,558,240 69,258,585 80,652,046 35,681,545 45,489,588 290,629,273 371,800,407 0 0 17,378,123 17,378,123 12,883,992 24,715,351 129,550,869 167,150,211 95,930,393 0 0 95,930,393 200,464 0 0 200,464 4,320,017 0 0 4,320,017 460,020 0 0 460,020 $168,495,353 (1) $82,829,202 (1) $521,418,567 $772,743,121 21.8% 10.7% 67.5% 100.0% %TOTAL 2.3% 2.2% 10.4% 48.1% 2.3% 21.6% (2) 12.4% 0.0% 0.6% 0.1% 100.0% Total within One Year $251,324,555 (1) 32.5% POLICY: (1) Not less than $184,078,000 to mature within one year. (Two-thirds of current year operating budget of $276,115,000) (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes. m X :I: c:I =i N May 21, 2019 Item #1 Page 6 of 26 Market Rates MARKET YIELD CURVE 6/30/17, 6/30/18, 3/31/19 3.50 ~------------------ 3.00 2.so L----__.. • _ _ _ _ _ _ _ _ ,. ---~~-~ - 2 00 -____ .. _____ ---------~~-. ----~-....... 1.50 1.00 0.50 0.00 3 Mth 2Yr 5 Yr 10 Yr 3 Mth 2 Yr 5 Yr 10 Yr ---6/30/2017 [. 1.01 1.38 1.88 2.30 ....,. 6/30/2018 I 1.91 2.53 2.74 2.86 -~ ·3/31 /2019 I 2.37 2.33 2.31 2.89 m X :c c:, =i ~ May 21, 2019 Item #1 Page 8 of 26 Sec. CUSIP Investment # Fund Type Issuer 49306SVY9 11598 100 MC2 KEYBAN 3133EFMB0 11565 100 FAC FFCB 3135G0G31 11567 100 FAC FNMA 912828B33 11504 100 TRC USTR 31358BAA6 11440 100 AFD FNMA 31358BAA6 11761 100 AFD FNMA 3133EFZN0 11619 100 FAC FFCB 3136FTT82 11417 100 FAC FNMA 3136FTS67 11421 100 FAC FNMA 912828SH4 11733 100 TRC USTR 313378QK0 11392 100 FAC FHLB 30231GAD4 11580 100 MTN EXXON 742651GD4 11481 100 FAC PEFCO 912828C65 11550 100 TRC USTR 912828SN1 11734 100 TRC USTR Total Maturities Run Date: 04/12/2019 -12:25 City of Carlsbad Maturity Report Sorted by Maturity Date Amounts due during January 1, 2019 -March 31, 2019 Maturity Purchase Rate Book Value Par Value Date Date at Maturity at Maturity 247,000.00 01/22/2019 01 /20/2016 1.550 247,000.00 4,650,000.00 01/28/2019 10/28/2015 1.150 4,650,000.00 5,000,000.00 01/29/2019 11/02/2015 1.200 5,000,000.00 2,000,000.00 01/31/2019 06/05/2015 1.500 2,000,000.00 1,163,000.00 02/01 /2019 01/23/2015 1.612 1,163,000.00 500,000.00 02/01 /2019 04/24/2017 1.394 500,000.00 4,000,000.00 02/12/2019 02/26/2016 1.030 4,000,000.00 2,500,000.00 02/27/2019 12/09/2014 1.750 2,500,000.00 1,852,000.00 02/27/2019 12/12/2014 1.700 1,852,000.00 1,000,000.00 02/28/2019 01/27/2017 1.375 1,000,000.00 2,000,000.00 03/08/2019 10/06/2014 1.875 2,000,000.00 1,250,000.00 03/15/2019 12/22/2015 1.819 1,250,000.00 2,274,000.00 03/15/2019 04/06/2015 4.375 2,274,000.00 4,000,000.00 03/31/2019 10/06/2015 1.625 4,000,000.00 1,000,000.00 03/31/2019 01/27/2017 1.500 1,000,000.00 33,436,000.00 33,436,000.00 Maturity Interest Proceeds 20.98 247,020.98 26,737.50 4,676,737.50 30,000.00 5,030,000.00 15,000.00 2,015,000.00 19,700.00 1,163,000.00 13,061.10 500,000.00 20,600.00 4,020,600.00 21 ,875.00 2,521,875.00 15,742.00 1,867,742.00 6,875.00 1,006,875.00 18,750.00 2,018,750.00 11 ,368.75 1,261 ,368.75 49,743.75 2,323,743.75 32,500.00 4,032,500.00 7,500.00 1,007,500.00 289,474.08 33,692,712.98 Net Income 20.98 26,737.50 30,000.00 15,000.00 0.00 0.00 20,600.00 21 ,875.00 15,742.00 6,875.00 18,750.00 11,368.75 49,743.75 32,500.00 7,500.00 256,712.98 Portfolio CARL AP MA (PRF _MA) 7.1.1 Report Ver. 7.3.6.1 m X :I: c:, =i 0\ May 21, 2019 Item #1 Page 10 of 26 Sec. CUSIP Investment# Fund Type Issuer General Fund 3134GSJ55 11974 100 FAC FHLMC 931142EA7 11969 100 MTN WMT 3133EJUA5 11975 100 FAC FFCB 3133EJXV6 11976 100 FAC FFCB 3134G9N52 11982 100 FAC FHLMC 85916VCY9 11967 100 MC2 STERL 931142DU4 11970 100 MTN WMT 3130ACF66 11977 100 FAC FHLB 3133EHPE7 11978 100 FAC FFCB 89236TCQ6 11971 100 MTN TOYOTA 3133EJ5S4 11979 100 FAC FFCB 25665QAZ8 11968 100 MC2 DOLLAR 90331HNV1 11972 100 MTN USBANK 478160BH6 11973 100 MTN JNJ 3130AFRQ2 11980 100 FAC FHLB 3130AFTA5 11981 100 FAC FHLB 3133EJQA0 11985 100 FAC FFCB 3137EAEE5 11983 100 FAC FHLMC 45950VLH7 11987 100 MC3 IFC 32100LBY0 11994 100 MC2 FMST 45905U6M1 11995 100 MC3 IBRD 48128HGB8 11992 100 MC2 JPMORG 89236TFD2 12003 100 MTN TOYOTA 931142EK5 11991 100 MTN WMT 3130AFUM7 11984 100 FAC FHLB 3135G0U43 11997 100 FAC FNMA 90331HNV1 11998 100 MTN USBANK 94988J5R4 11999 100 MTN WFB 3133EKBV7 12004 100 FAC FFCB 3133EKBW5 12007 100 FAC FFCB 478160CD4 12006 100 MTN JNJ 89236TFS9 12005 100 MTN TOYOTA Received = Accrued Interest at Purchase was received by report ending date. Run Date: 04/12/2019 -12:26 City of Carlsbad Purchases Report Sorted by Fund -Fund January 1, 2019 -March 31, 2019 Original Purchase Principal Par Value Date Payment Purchase 1,250,000.00 01/04/2019 06/27 -12/27 1,255,937.50 1,500,000.00 01/07/2019 06/15-12/15 1,481,805.00 1,500,000.00 01/08/2019 04/09 -10/09 1,504,860.00 1,500,000.00 01/10/2019 02/23 -08/23 1,502,895.00 2,000,000.00 01/11/2019 01/19 -07/19 1,976,000.00 246,000.00 01/11/2019 07/11 -01/11 246,000.00 2,720,000.00 01/14/2019 06/15-12/15 2,653,088.00 1,000,000.00 01/15/2019 03/26 -09/26 979,710.00 1,205,000.00 01/16/2019 06122 -12122 1,180,900.00 1,500,000.00 01/16/2019 07/13-01/13 1,483,770.00 1,750,000.00 01/22/2019 07122 -01122 1,750,000.00 246,000.00 01/24/2019 07/24 -01124 246,000.00 1,000,000.00 01/24/2019 07/24 -01/24 1,010,000.00 1,500,000.00 01/28/2019 06/05-12/05 1,541,250.00 1,500,000.00 01/29/2019 07/29 -01129 1,501,125.00 2,500,000.00 01/30/2019 07/30 -01/30 2,500,000.00 1,000,000.00 02/07/2019 04/23 -10/23 1,017,530.00 2,000,000.00 02/07/2019 07117 -01117 1,981,420.00 1,500,000.00 02/08/2019 04/24-10/24 1,470,780.00 246,000.00 02/13/2019 08/13-02113 246,000.00 3,000,000.00 02/15/2019 08/15 -02115 3,000,000.00 245,000.00 02/15/2019. 08/15 -02115 245,000.00 2,000,000.00 02/21/2019 05/17 -Quarterly 2,000,000.00 1,000,000.00 02/21/2019 06/26-12/26 1,025,140.00 2,500,000.00 02/26/2019 08/26 -02/26 2,500,000.00 1,000,000.00 02/27/2019 03/12 -09/12 1,016,210.00 1,800,000.00 02/28/2019 07/24-01/24 1,835,100.00 2,000,000.00 02/28/2019 08/14 -02/14 2,040,700.00 2,000,000.00 03/01/2019 09/01 -03/01 2,000,000.00 1,500,000.00 03/06/2019 08/27 -02/27 1,498,950.00 1,250,000.00 03/07/2019 09/03 -03/03 1,236,787.50 1,000,000.00 03/07/2019 07/08 -01/08 1,017,865.00 Accrued Rate at at Purchase Purchas 741.32 3.050 1,741.67 1.900 10,012.50 2.700 Received 2.700 Received 1.000 3.100 5,149.11 2.350 Received 2.150 1,654.87 2.060 350.00 2.800 3.010 2.850 3.400 7,453.13 3.375 2.875 3.050 8,666.67 3.000 1,666.67 1.500 8,666.67 2.000 2.850 2.625 3.150 342.54 3.083 5,194.44 3.400 2.800 Received 2.875 5,780.00 3.400 2,761.11 3.550 2.550 978.75 2.610 312.50 2.250 5,490.28 3.350 Maturity Date YTM 12/27/2021 2.882 12/15/2020 2.545 04/09/2021 2.550 02/23/2021 2.605 07/19/2021 2.776 01/11/2023 3.102 12/15/2022 3.020 09/26/2022 2.730 06/22/2022 2.673 07/13/2022 3.129 01/22/2024 3.010 01/24/2022 2.852 07/24/2023 3.160 12/05/2023 2.765 01/29/2024 2.859 01/30/2024 3.050 10/23/2023 2.602 01/17/2020 2.501 10/24/2022 2.553 08/14/2023 2.582 02/15/2024 2.625 02/15/2024 3.152 05/17/2022 3.089 06/26/2023 2.781 02/26/2024 2.800 09/12/2023 2.495 07/24/2023 2.925 08/14/2023 3.058 03/01/2022 2.550 02/27/2024 2.625 03/03/2022 2.620 01/08/2024 2.950 Ending Book Value 1,255,456.08 1,483,994.66 1,504,362.61 1,502,587.67 1,978,114.54 246,000.00 2,656,739.47 980,868.56 1,182,362.38 "1,484,738.38 1,750,000.00 246,000.00 1,009,586.42 1,539,762.45 1,501,086.25 2,500,000.00 1,016,971.85 1,984,370.94 1,471,939.18 246,000.00 3,000,000.00 245,000.00 2,000,000.00 1,024,497.44 2,500,000.00 1,015,872.91 1,834,369.67 2,039,863.70 2,000,000.00 1,498,964.66 1,237,082.20 1,017,618.73 Portfolio CARL AP PU (PRF_PU) 7.1.1 Report Ver. 7.3.6.1 May 21, 2019 Item #1 Page 11 of 26 City of Carlsbad Purchases Report January 1, 2019 -March 31, 2019 Sec. Original Purchase CUSIP Investment# Fund Type Issuer Par Value Date Payment General Fund 3130AOXE5 12008 100 FAC FHLB 3,000,000.00 03/08/2019 09/08 -03/08 3130AC6J8 12009 100 FAC FHLB 2,000,000.00 03/08/2019 08/28 -02/28 3134GBRM6 12010 100 FAC FHLMC 1,800,000.00 03/13/2019 06/08 -12/08 3133EKDL7 12012 100 FAC FFCB 2,000,000.00 03/18/2019 09/18 -03/18 31422BDN7 12015 100 FAC FAMCA 2,000,000.00 03/20/2019 09/20 -03/20 3130ADRG9 12016 100 FAC FHLB 2,000,000.00 03/22/2019 09/10 -03/10 3133EG6EO 12020 100 FAC FFCB 2,500,000.00 03/25/2019 08/03 -02/03 3134GTAN3 12019 100 FAC FHLMC 2,000,000.00 03/26/2019 09/26 -03/26 3130AG3R4 12017 100 FAC FHLB 1,500,000.00 03/27/2019 09/27 -03/27 Subtotal 65,758,000.00 Total Purchases 65,758,000.00 Run Date: 04/12/2019 -12:26 Principal Accrued Rate at Purchase at Purchase Purchas 3,100,851.00 3.250 1,969,400.00 1,111.11 2.000 1,776,708.00 9,975.00 2.100 2,000,000.00 2.940 2,000,000.00 3.000 2,028,220.00 1,833.33 2.750 2,483,900.00 7,330.56 2.030 2,000,000.00 2.500 1,500,000.00 2.550 65,803,902.00 87,212.23 65,803,902.00 87,212.23 Maturity Date YTM 03/08/2024 2.530 02/28/2022 2.538 06/08/2022 2.518 03/18/2024 2.940 03/20/2024 2.940 03/10/2023 2.375 02/03/2022 2.264 03/26/2021 2.500 09/27/2021 2.550 Page 2 Ending Book Value 3,099,562.35 1,970,057.76 1,777,067.88 2,000,000.00 2,000,000.00 2,028,042.14 2,483,993.97 2,000,000.00 1,500,000.00 65,812,934.85 65,812,934.85 · Portfolio CARL AP PU (PRF _PU) 7.1.1 Report Ver. 7.3.6.1 May 21, 2019 Item #1 Page 12 of 26 City of Carlsbad Sales/Call Report Sorted by Maturity Date -Fund January 1, 2019 -March 31, 2019 Issuer Purchase Redem. Date Par Rate at Book Value Redemption Redemption Total CUSIP Investment# Fund Sec. Type Date Matur. Date Value Redem. at Redem. Principal Interest Amount Net Income 03/25/2020 94986TTG2 11466 100 WELLS 03/25/201 03/25/201 247,000.00 2.250 \, 247,000.00 247,000.00 1,370.34 248,370.34 1,370.34 MC2 03/25/202 Call Subtotal 247,000.00 247,000.00 247,000.00 1,370.34 248,370.34 1,370.34 05/28/2020 3130AFFB8 11954 100 FHLB 11/28/201 02/28/201 1,600,000.00 3,000 1,600,000.00 1,600,000.00 0.00 1,600,000.00 0.00 FAC 05/28/202 Call Subtotal 1,600,000.00 1,600,000.00 1,600,000.00 0.00 1,600,000.00 0.00 03/26/2021 3134GSK87 11965 100 FHLMC 12/26/201 03/26/201 1,500,000.00 3.000 1,500,000.00 1,500,000.00 11,250.00 1,511,250.00 11,250.00 FAC 03/26/202 Call Subtotal 1,500,000.00 1,500,000.00 1,500,000.00 11,250.00 1,511,250.00 11 ,250.00 08/27/2021 3134GSWC5 11957 100 FHLMC 11/30/201 02/27/201 2,000,000.00 2.900 1,995,189.45 2,000,000.00 29,000.00 2,029,000.00 33,810.55 FAC 08/27/202 Call Subtotal 2,000,000.00 1,995,189.45 2,000,000.00 29,000.00 2,029,000.00 33,810.55 02/23/2022 3134GSMZ5 11904 100 FHLMC 05/23/201 02/23/201 3,000,000.00 3.000 3,000,000.00 3,000,000.00 45,000.00 3,045,000.00 45,000.00 FAC 02/23/202 Call Subtotal 3,000,000.00 3,000,000.00 3,000,000.00 45,000.00 3,045,000.00 45,000.00 02/28/2022 3133EJEA3 11872 100 FFCB 03/09/201 03/27/201 1,250,000.00 2.800 1,249,770.16 1,250,000.00 2,819.44 1,252,819.44 3,049.28 FAC 02/28/202 Call 3133EJEA3 11877 100 FFCB 03/13/201 03/27/201 1,250,000.00 2.800 1,250,000.00 1,250,000.00 2,819.44 1,252,819.44 2,819.44 FAC 02/28/202 Call Subtotal 2,500,000.00 2,499,770.16 2,500,000.00 5,638.88 2,505,638.88 5,868.72 07/25/2022 3133EJVE6 11937 100 FFCB 10/05/201 02/15/201 1,500,000.00 3.120 1,497,624.09 1,500,000.00 2,600.00 1,502,600.00 4,975.91 FAC 07/25/202 Call Subtotal 1,500,000.00 1,497,624.09 1,500,000.00 2,600.00 1,502,600.00 4,975.91 V -Security with variable rate change. Portfolio CARL AP Run Date: 04/16/2019 -09:00 SA(PRF_SA)?.1.1 Report Ver. 7.3.6.1 May 21, 2019 Item #1 Page 13 of 26 Issuer Purchase Redem. Date CUSIP Investment # Fund Sec. Type Date Matur. Date 09/13/2022 3130ACAT1 11869 100 FHLB 02/26/201 03/13/201 FAG 09/13/202 Subtotal 03/27/2023 3134GSGV1 11878 100 FHLMC 03/27/201 03/27/201 FAG 03/27/202 Subtotal Total Sales V -Security with variable rate change. Run Date: 04/16/2019 -09:00 City of Carlsbad Sales/Call Report January 1, 2019 -March 31, 2019 Par Rate at Book Value Redemption Value Redem. atRedem. Principal 2,000,000.00 2.450 \, 1,997,690.90 2,000,000.00 2,000,000.00 1,997,690.90 2,000,000.00 3,000,000.00 3,050 3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 17,347,000.00 17,337,274.60 17,347,000.00 Redemption Total Interest Amount 12,250.00 2,012,250.00 Call 12,250.00 2,012,250.00 45,750.00 3,045,750.00 Call 45,750.00 3,045,750.00 152,859.22 17,499,859.22 Page 2 Net Income 14,559.10 14,559.10 45,750.00 45,750.00 162,584.62 Portfolio CARL AP SA(PRF_SA)7.1.1 Report Ver. 7.3.6.1 May 21, 2019 Item #1 Page 14 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MARCH 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN ~ 1/29/2016 4/1/2019 FA FHLB 4.250% NON-CALL 1,500,000.00 1,643,640.00 1.166% 0.0000511 20,895.83 1,664,535.83 1,158 12/19/2016 4/10/2019 FA FAMCA 1.86% NON-CALL 500,000.00 505,300.00 1.390% 0.0000187 16,167.50 521,467.50 842 6/6/2014 5/7/2019 FA FHLMC 1.2% CALL 5/7/15 1,000,000.00 976,800.00 1.693% 0.0000441 82,233.33 1,059,033.33 1,796 6/5/2015 5/30/2019 FA FHLMC 1.75% NON-CALL 1,650,000.00 1,670,229.00 1.432% 0.0000637 94,869.96 1,765,098.96 1,455 7/10/2015 5/30/2019 FA FHLMC 1.75% NON-CALL 1,000,000.00 1,015,100.00 1.350% 0.0000365 52,955.56 1,068,055.56 1,420 7/15/2015 6/14/2019 FA FAMCA 1.50% NON-CALL 1,060,000.00 1,060,000.00 1.500% 0.0000424 62,230.83 1,122,230.83 1,430 2/26/2016 6/14/2019 FA FAMCA 1.50% NON-CALL 3,000,000.00 3,033,300.00 1.156% 0.0000934 115,200.00 3,148,500.00 1,204 6/24/2015 6/24/2019 FA FFCB 1.52% NON CALL 2,000,000.00 2,002,320.00 1.490% 0.0000795 119,280.00 2,121,600.00 1,461 6/26/2015 6/24/2019 FA FFCB 1.52% NON-CALL 2,250,000.00 2,251,282.50 1.505% 0.0000903 135,327.50 2,386,610.00 1,459 6/28/2016 6/28/2019 FA FNMA 1.20% CALL 12/28/16 2,500,000.00 2,500,000.00 1.200% 0.0000799 90,000.00 2,590,000.00 1,095 1/23/2015 7/17/2019 FA FFCB 2.15% NON-CALL 3,250,000.00 3,354,097.50 1.410% 0.0001260 209,175.42 3,563,272.92 1,636 7/26/2016 7/26/2019 FA FNMA 1.05% ONE CALL 7/26/18 2,300,000.00 2,300,000.00 1.050% 0.0000644 48,300.00 2,348,300.00 1,095 10/3/2017 7/26/2019 FA FHLB 1.375% ONE CALL 4/26/19 1,800,000.00 1,796,328.00 1.489% 0.0000713 48,565.75 1,844,893.75 661 1/21/2015 8/1/2019 FA FHLMC 1.25% NON-CALL 2,500,000.00 2,493,975.00 1.305% 0.0000867 147,518.06 2,641,493.06 1,653 4/28/2016 8/15/2019 FA PEFCO 1.45% NON-CALL 2,600,000.00 2,617,570.80 1.240% 0.0000865 106,734.48 2,724,305.28 1,204 8/30/2016 8/28/2019 FA FNMA 1.0% ONE CALL 8/28/18 2,400,000.00 2,400,000.00 1.000% 0.0000640 71,866.67 2,471 ,866.67 1,093 10/23/2014 9/13/2019 FA FHLB 2.00% NON-CALL 1,500,000.00 1,525,968.30 1.630% 0.0000663 120,698.37 1,646,666.67 1,786 1/21/2015 9/13/2019 FA FHLB 1.375% NON-CALL 2,000,000.00 2,000,440.00 1.370% 0.0000730 127,282.22 2,127,722.22 1,696 1/27/2017 9/27/2019 FA FFCB 1.550% NON-CALL 1,000,000.00 1,003,130.00 1.430% 0.0000382 38,203.33 1,041 ,333.33 973 7/19/2016 10/2/2019 FA FHLMC 1.25% NON-CALL 3,000,000.00 3,027,363.00 1.250% 0.0001008 92,741.17 3,120,104.17 1,170 10/6/2015 10/24/2019 FA FNMA 1.33% NON-CALL 4,183,000.00 4,197,807.82 1.240% 0.0001387 210,509.47 4,408,317.29 1,479 5/26/2016 11/26/2019 FA FNMA 1.30% QRTL Y CALL 4,000,000.00 4,000,000.00 1.300% 0.0001386 182,000.00 4,182,000.00 1,279 6/15/2015 12/13/2019 FA FHLB 2.375% NON-CALL 3,370,000.00 3,468,026.56 1.700% 0.0001571 261,697.54 3,729,724.10 1,642 2/21/2017 12/13/2019 FA FHLB 2.375% NON-CALL 1,000,000.00 1,024,070.00 1.497% 0.0000409 42,693.89 1,066,763.89 1,025 5/19/2017 12/27/2019 FA FNMA 1.20% QUARTERLY CALL 2,500,000.00 2,482,475.00 1.475% 0.0000976 95,691 .67 2,578,166.67 952 10/5/2015 1/9/2020 FA FHLMC 1 .40% NON-CALL 3,500,000.00 3,519,495.00 1.265% 0.0001186 189,299.44 3,708,794.44 1,557 4/26/2017 1/17/2020 FA FHLMC 1.50% NON-CALL 1,250,000.00 1,251 ,150.00 1.465% 0.0000488 49,943.75 1,301,093.75 996 2/7/2019 1/17/2020 FA FHLMC 1.5% BULLET 2,000,000.00 1,981,420.00 2.500% 0.0001320 46,913.33 2,028,333.33 344 7/28/2016 1/28/2020 FA FNMA 1.20% CALL 7/28/17 ONE TIME 4,850,000.00 4,850,000.00 1.200% 0.0001551 203,700.00 5,053,700.00 1,279 5/13/2016 2/13/2020 FA FHLMC 1.30% CALL 2/13/17 ONE TIME 2,750,000.00 2,750,000.00 1.300% 0.0000953 134,062.50 2,884,062.50 1,371 6/11/2018 2/14/2020 FA FHLB 2.15% CALL 2/14/19 QRTLY 1,500,000.00 1,491,780.00 2.485% 0.0000988 62,238.75 1,554,018.75 613 2/24/2016 2/24/2020 FA FHLMC 1.50% CONT CALL 1,750,000.00 1,750,000.00 1.500% 0.0000700 105,000.00 1,855,000.00 1,461 2/24/2016 2/24/2020 FA FFCB 1.4% CONT CALL 1,000,000.00 1,000,000.00 1.400% 0.0000373 56,000.00 1,056,000.00 1,461 1/4/2017 2/28/2020 FA FHLMC 1.25% QRTLY CALL 2,000,000.00 1,978,000.00 1.610% 0.0000849 100,750.00 2,078,750.00 1,150 5/23/2016 3/15/2020 FA PEFCO 2.25% NON-CALL 3,000,000.00 3,099,000.00 1.358% 0.0001122 158,250.00 3,257,250.00 1,392 5/4/2018 3/15/2020 FA TENN VALLEY AUTHORITY 2.25% NON-CALL 1,700,000.00 1,692,265.00 2.500% 0.0001127 79,028.75 1,771,293.75 681 6/12/2018 3/15/2020 FA TENN VALLEY AUTHORITY 2.25% NON-CALL 1,250,000.00 1,244,200.00 2.520% 0.0000836 55,253.13 1,299,453.13 642 6/11/2018 3/15/2020 FA TENN VALLEY AUTHORITY 2.25% NON-CALL 1,250,000.00 1,244,622.50 2.500% 0.0000829 54,908.75 1,299,531.25 643 3/26/2019 3/26/2021 FA FHLMC 2.5% CALL 3/26/20 2,000,000.00 2,000,000.00 2.500% 0.0001332 100,000.00 2,100,000.00 731 8/29/2017 4/3/2020 FA FFCB 1.67% CALL 7/2/18 CONT 2,000,000.00 1,999,600.00 1.678% 0.0000894 87,054.44 2,086,654.44 948 7/13/2016 4/13/2020 FA FNMA 1.25% CALL 4/13/17 ONE TIME 5,000,000.00 5,000,000.00 1.250% 0.0001666 234,375.00 5,234,375.00 1,370 1/6/2017 4/13/2020 FA FFCB 1.4% CONT CALL 1,000,000.00 992,000.00 1.652% 0.0000437 53,772.22 1,045,772.22 1,193 m 12/15/2017 4/17/2020 FA FAMCA 1.64% NON-CALL 1,500,000.00 1,487,706.00 2.000% 0.0000793 69,830.67 1,557,536.67 854 X :::c 7/28/2016 4/28/2020 FA FNMA 1.25% CALL 4/28/17 ONE TIME 3,750,000.00 3,750,000.00 1.250% 0.0001249 175,781.25 3,925,781.25 1,370 Cl:I 5/4/2018 5/11/2020 FA FHLMC 1.50% CALL 5/11/18 QRTLY 2,000,000.00 1,989,000.00 2.579% 0.0001367 104,083.33 2,093,083.33 738 =i 11/3/2017 5/15/2020 FA FHLB 1.7% ONE CALL 5/15/19 1,650,000.00 1,650,000.00 1.700% 0.0000748 71,060.00 1,721,060.00 924 """ 5/22/2017 5/22/2020 FA FHLMC 1.625% ONE CALL 5/22/18 1,200,000.00 1,200,000.00 1.625% 0.0000520 58,500.00 1,258,500.00 1,096 5/24/2017 5/29/2020 FA FHLMC 1.625% ONE CALL 5/19/20 2,250,000.00 2,255,062.50 1.548% 0.0000930 104,523.44 2,359,585.94 1,101 6/27/2017 5/29/2020 FA FHLMC 1.625% ONE CALL 5/19/20 1,600,000.00 1,604,000.00 1.537% 0.0000657 71,977.78 1,675,977.78 1,067 6/5/2017 6/5/2020 FA FHLB 1.6% CALL 12/5/17 CONT 1,300,000.00 1,300,000.00 1.600% 0.0000554 62,400.00 1,362,400.00 1,096 6/8/2017 6/5/2020 FA FHLB 1.60% CALL 12/5/17 CONT 2,500,000.00 2,500,000.00 1.600% 0.0001066 120,000.00 2,620,000.00 1,093 Page 1 4/12/2019 May 21, 2019 Item #1 Page 15 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MARCH 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN ~ 6/8/2017 6/8/2020 FA FHLMC 1.25% CALL 12/8/17 QRTLY STEP 2,550,000.00 2,549,490.00 2.021% 0.0001373 155,103.75 2,704,593.75 1,096 6/12/2015 6/12/2020 FA FHLB 1.75% NON-CALL 3,000,000.00 3,000,000.00 1.750% 0.0001399 262,500.00 3,262,500.00 1,827 2/23/2016 6/12/2020 FA FHLB 1.75% NON-CALL 2,000,000.00 2,039,980.00 1.271% 0.0000691 110,617.22 2,150,597.22 1,571 4/15/2016 6/26/2020 FA FNMA 1.35% NON-CALL 2,150,000.00 2,159,632.00 1.240% 0.0000714 112,192.37 2,271,824.37 1,533 7/13/2016 7/13/2020 FA FFCB 1.19% CALL 7/13/17 CONT 4,250,000.00 4,250,000.00 1.190% 0.0001348 202,300.00 4,452,300.00 1,461 4/13/2018 7/13/2020 FA FFCB 1.29% CALL 4/19/18 CONT 2,000,000.00 1,948,000.00 2.485% 0.0001290 110,050.00 2,058,050.00 822 4/27/2017 7/27/2020 FA FHLMC 1.7% CALL 4/27/18 1,600,000.00 1,600,000.00 1.700% 0.0000725 88,400.00 1,688,400.00 1,187 1/21/2016 7/29/2020 FA FHLB 1.83% NON-CALL 2,500,000.00 2,549,375.00 1.378% 0.0000936 157,516.67 2,706,891.67 1,651 9/7/2016 8/24/2020 FA FFCB 1.32% CALL 8/24/17 CONT 3,000,000.00 2,998,260.00 1.335% 0.0001067 158,710.00 3,156,970.00 1,447 4/19/2016 8/28/2020 FA FHLMC 1.65% NON-CALL 1,000,000.00 1,017,760.00 1.230% 0.0000334 54,152.50 1,071,912.50 1,592 6/8/2016 9/11/2020 FA FHLB 2.875% NON-CALL 3,000,000.00 3,206,160.00 1.214% 0.0001037 161,121.25 3,367,281 .25 1,556 10/12/2016 9/11/2020 FA FHLB 1.375% NON-CALL 1,800,000.00 1,808,975.18 1.244% 0.0000600 87,893.57 1,896,868.75 1,430 4/13/2018 9/15/2020 FA FFCB 2.47% CALL 6/15/18 CONT 1,750,000.00 1,748,757.50 2.500% 0.0001165 105,943.06 1,854,700.56 886 10/12/2016 10/6/2020 FA FHLB 1.375% CALL 1/6/17 1,800,000.00 1,797,300.00 1.414% 0.0000677 101,287.50 1,898,587.50 1,455 4/26/2017 10/16/2020 FA FNMA 2.35% SEMI-ANNUAL CALL 1,300,000.00 1,332,019.00 1.618% 0.0000574 74,057.39 1,406,076.39 1,269 4/23/2018 10/27/2020 FA FNMA 1.9% CALL 7/27/18 CONT 1,750,000.00 1,721,125.00 2.583% 0.0001185 112,369.44 1,833,494.44 918 7/22/2016 11/27/2020 FA FNMA 1.65% NON-CALL 3,250,000.00 3,316,612.00 1.165% 0.0001030 166,507.79 3,483,119.79 1,589 11/27/2017 11/27/2020 FA FHLMC 1.875% ONE CALL 11/27/18 1,500,000.00 1,500,000.00 1.875% 0.0000750 84,375.00 1,584,375.00 1,096 6/15/2017 11/30/2020 FA FNMA 2.0% NON-CALL 1,100,000.00 1,113,618.00 1.630% 0.0000484 62,404.22 1,176,022.22 1,264 6/14/2016 12/14/2020 FA FFCB 1.54% CALL 6/14/17 CONT 2,250,000.00 2,250,000.00 1.540% 0.0000923 155,925.00 2,405,925.00 1,644 6/21/2016 12/21/2020 FA FFCB 1.55% CALL 9/21/16 CONT 2,000,000.00 2,000,000.00 1.550% 0.0000826 139,500.00 2,139,500.00 1,644 3/10/2017 1/15/2021 FA FAMCA 2.0% NON-CALL 1,580,000.00 1,576,287.00 2.063% 0.0000867 125,285.22 1,701,572.22 1,407 4/26/2016 1/19/2021 FA FFCB 1.60% CALL 7/19/16 CONT 3,250,000.00 3,247,010.00 1.620% 0.0001402 248,978.89 3,495,988.89 1,729 7/19/2016 1/19/2021 FA FHLB 1.40% CALL 10/19/16 CONT 3,500,000.00 3,500,000.00 1.400% 0.0001306 220,500.00 3,720,500.00 1,645 9/9/2016 1/25/2021 FA FAMCA 1.550% NON-CALL 2,000,000.00 2,018,640.00 1.550% 0.0000834 117,071.11 2,135,711 .11 1,599 10/12/2016 2/15/2021 FA TENN VALLEY AUTHORITY 3.875% NON-CALL 3,000,000.00 3,315,660.00 1.370% 0.0001211 189,058.75 3,504,718.75 1,587 8/16/2017 2/16/2021 FA FNMA 1.75% CALL 8/16/18 2,000,000.00 2,000,000.00 1.750% 0.0000933 122,500.00 2,122,500.00 1,280 12/12/2018 2/16/2021 FA FHLMC 2.000% CALL 2/16/19 1,000,000.00 982,400.00 2.838% 0.0000743 61,155.56 1,043,555.56 797 1/10/2019 2/23/2021 FA FFCB 2.7% BULLET 1,500,000.00 1,502,895.00 2.605% 0.0001043 82,942.50 1,585,837.50 775 12/12/2018 2/24/2021 FA FHLB 1.750% NON-CALL 1,000,000.00 977,940.00 2.790% 0.0000727 60,560.00 1,038,500.00 805 2/26/2016 2/26/2021 FA FHLMC 1.25% QRTL Y CALL STEP 1,000,000.00 999,500.00 2.103% 0.0000560 106,750.00 1,106,250.00 1,827 2/26/2016 2/26/2021 FA FHLB 1.69% CALL 8/26/16 CONT 480,000.00 480,000.00 1.690% 0.0000216 74,495.20 554,495.20 1,827 2/14/2018 3/12/2021 FA FHLB 2.375% NON-CALL 1,500,000.00 1,500,768.00 2.357% 0.0000943 108,778.87 1,609,546.87 1,122 6/12/2018 3/12/2021 FA FHLB 1.75% NON-CALL 1,000,000.00 976,760.00 2.631% 0.0000685 71 ,365.00 1,048,125.00 1,004 3/22/2016 3/22/2021 FA FHLB 1.25% QRTLY CALL 6/22/16 STEP 2,500,000.00 2,498,750.00 1.870% 0.0001245 235,625.00 2,734,375.00 1,826 9/29/2017 3/26/2021 FA FHLMC 1.75% ONE CALL 9/26/18 2,535,000.00 2,531,197.50 1.794% 0.0001210 158,701.56 2,689,899.06 1,274 1/8/2019 4/9/2021 FA FFCB 2.7% BULLET 1,500,000.00 1,504,860.00 2.550% 0.0001023 86,377.50 1,591,237.50 822 10/26/2017 4/26/2021 FA FHLMC 1.85% ONE CALL 10/26/18 1,975,000.00 1,974,012.50 1.865% 0.0000981 128,868.75 2,102,881.25 1,278 4/26/2018 4/26/2021 FA FHLB 2.68% CALL 4/26/19 CONT 2,000,000.00 2,000,000.00 2.680% 0.0001428 160,800.00 2,160,800.00 1,096 4/28/2016 4/28/2021 FA FHLMC 1.25% QRTL Y CALL 10/28/16 STEP 2,500,000.00 2,496,250.00 2.122% 0.0001412 269,375.00 2,765,625.00 1,826 5/25/2016 5/25/2021 FA FFCB 1.66% CALL 5/25/17 CONT 4,000,000.00 3,997,600.00 1.673% 0.0001782 334,400.00 4,332,000.00 1,826 9/12/2017 6/1/2021 FA FHLB 1.875% CALL 9/18/17 CONT 2,500,000.00 2,498,750.00 1.875% 0.0001249 175,598.96 2,674,348.96 1,358 10/12/2016 6/11/2021 FA FHLB 2.25% NON-CALL 1,500,000.00 1,559,427.00 1.370% 0.0000569 97,979.25 1,657,406.25 1,703 6/15/2017 6/14/2021 FA FFCB 1.81 % CALL 6/14/18 CONT 1,760,000.00 1,760,000.00 1.810% 0.0000849 127,335.51 1,887,335.51 1,460 6/15/2017 6/15/2021 FA FHLMC 1.8% CALL 6/15/18 ONE TIME 1,400,000.00 1,400,000.00 1.800% 0.0000672 100,800.00 1,500,800.00 1,461 10/26/2016 7/14/2021 FA FHLB 1.125% NON-CALL 2,500,000.00 2,476,850.00 1.328% 0.0000877 155,806.25 2,632,656.25 1,722 1/11/2019 7/19/2021 FA FHLMC 1.5% QTL Y CALL 1/19/19 2,000,000.00 1,976,000.00 2.776% 0.0001462 139,666.67 2,115,666.67 920 4/24/2018 7/27/2021 FA FHLB 1.0% CALL 7/27/18 QRTLY 1,400,000.00 1,358,518.00 2.743% 0.0000993 141 ,348.67 1,499,866.67 1,190 10/2/2017 7/27/2021 FA FHLMC 2.0% ONE CALL 7/27/18 3,000,000.00 3,004,500.00 1.959% 0.0001569 224,666.67 3,229,166.67 1,394 2/16/2017 7/26/2021 FA FHLMC 1.875% NON-CALL 1,400,000.00 1,392,580.00 2.000% 0.0000742 124,086.67 1,516,666.67 1,621 11/17/2016 7/28/2021 FA FNMA1 .00% CALL 1/28/17 QRTLY CALL STEP 2,600,000.00 2,596,100.00 2.079% 0.0001438 256,027.78 2,852,127.78 1,714 Page 2 4/12/2019 May 21, 2019 Item #1 Page 16 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MARCH 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Daysi 2/16/2017 8/16/2021 FA FHLB 2.0% CALL 2/16/18 ONE TIME 1,325,000.00 1,325,000.00 2.000% 0.0000706 119,250.00 1,444,250.00 1,642 12/19/2017 8/12/2021 FA FHLMC 1.125% NON-CALL 1,000,000.00 967,646.98 2.050% 0.0000529 73,384.27 1,041 ,031 .25 1,332 5/1/2018 9/13/2021 FA FFCB 1.84% CALL 5/7/18 CONT 2,000,000.00 1,946,000.00 2.684% 0.0001392 177,893.33 2,123,893.33 1,231 3/27/2019 9/27/2021 FA FHLB 2.55% CALL 3/27/20 1,500,000.00 1,500,000.00 2.550% 0.0001019 95,625.00 1,595,625.00 915 12/11/2017 10/5/2021 FA FFCB 2.0% CALL 10/05/18 CONT 2,750,000.00 2,739,907.50 2.100% 0.0001533 220,009.17 2,959,916.67 1,394 10/28/2016 10/7/2021 FA FNMA 1.375% NON-CALL 2,500,000.00 2,491 ,075.00 1.450% 0.0000963 178,794.79 2,669,869.79 1,805 1/3/2018 10/29/2021 FA FAMCA 1.625% QRTL Y CALL 2,000,000.00 1,951 ,928.00 2.285% 0.0001189 172,294.22 2,124,222.22 1,395 11nt2018 10/29/2021 FA FHLB 3.155% CALL 04/29/19 QTL Y 1,250,000.00 1,248,125.00 3.203% 0.0001065 119,125.00 1,367,250.00 1,087 12/14/2018 11/26/2021 FA FHLMC 3.16% CALL 11/26/19 2,000,000.00 2,005,000.00 3.160% 0.0001688 181,440.00 2,186,440.00 1,078 11/29/2016 11/29/2021 FA FFCB 1.76% NON-CALL 3,000,000.00 3,000,000.00 1.760% 0.0001407 264,000.00 3,264,000.00 1,826 4/12/2017 12/10/2021 FA FHLB 1.875% NON-CALL 2,000,000.00 2,003,620.00 1.834% 0.0000979 171,171.67 2,174,791 .67 1,703 1/2/2018 12/21/2021 FA FFCB 2.23% CALL CONT 3,000,000.00 2,992,500.00 2.296% 0.0001831 272,870.00 3,265,370.00 1,449 1/4/2019 12/27/2021 FA FHLMC 3.05% ONE CALL 12/27/19 1,250,000.00 1,255,937.50 2.566% 0.0000859 107,696.18 1,363,633.68 1,088 3/25/2019 2/3/2022 FA FFCB 2.03% NON-CALL 2,500,000.00 2,483,900.00 2.264% 0.0001498 161,019.44 2,644,919.44 1,046 2/27/2018 2/14/2022 FA FFCB 2.73% CALL CONT 1,800,000.00 1,800,000.00 2.730% 0.0001310 194,785.50 1,994,785.50 1,448 2/23/2017 2/23/2022 FA FAMCA2.1% NON-CALL 2,600,000.00 2,609,204.00 2.025% 0.0001408 263,796.00 2,873,000.00 1,826 3/8/2019 2/28/2022 FA FHLB 2.0% CALL 5/28/19 CONT 2,000,000.00 1,969,400.00 2.000% 0.0001050 219,488.89 2,188,888.89 1,088 3/1/2019 3/1/2022 FA FFCB 2.55% NON-CALL 2,000,000.00 2,000,000.00 2.550% 0.0001359 153,000.00 2,153,000.00 1,096 3/7/2018 3/7/2022 FA FFCB 2.85% CALL 6/7/18 CONT 1,250,000.00 1,250,000.00 2.850% 0.0000949 142,500.00 1,392,500.00 1,461 3/29/2017 3/29/2022 FA FHLMC 1.375 ONE CALL 3/29/18 STEP 1,500,000.00 1,500,000.00 2.265% 0.0000905 170,625.00 1,670,625.00 1,826 3/29/2017 3/29/2022 FA FHLMC 2.35 QRTL Y CALL 1,150,000.00 1,150,000.00 2.350% 0.0000720 135,125.00 1,285,125.00 1,826 5/25/2017 4/5/2022 FA FNMA 1.875% NON-CALL 1,600,000.00 1,600,581 .01 1.867% 0.0000796 145,252.32 1,745,833.33 1,776 8/18/2017 4/19/2022 FA FFCB 1.92% CALL 4/19/17 CONT 2,000,000.00 1,992,860.00 2.200% 0.0001168 186,446.67 2,179,306.67 1,705 11/3/2017 4/25/2022 FA FHLB 2.0% ONE CALL 10/25/19 2,000,000.00 1,998,000.00 2.020% 0.0001076 181,111.11 2,179,111 .11 1,634 4/27/2017 4/27/2022 FA FHLMC 2.625% CALL 4/27/22 3,500,000.00 3,545,920.00 2.345% 0.0002216 413,455.00 3,959,375.00 1,826 4/27/2017 4/27/2022 FA FHLMC 1.75% QRTLY CALL STEP 1,180,000.00 1,180,000.00 2.625% 0.0000825 154,875.00 1,334,875.00 1,826 3/13/2019 6/8/2022 FA FHLMC 2.1 % CALL 6/8/19 1,800,000.00 1,776,708.00 2.518% 0.0001192 145,617.00 1,922,325.00 1,183 3/9/2018 6/14/2022 FA FHLMC 2.070% CALL 6/14/18 QRTLY 1,000,000.00 980,000.00 2.568% 0.0000671 108,262.50 1,088,262.50 1,558 6/5/2018 6/15/2022 FA FFCB 1.83% CALL 6/11 /18 CONT 1,000,000.00 965,500.00 2.740% 0.0000705 108,208.33 1,073,708.33 1,471 6/22/2017 6/22/2022 FA FHLMC 2.00% QRTL Y CALL STEP 875,000.00 875,000.00 2.175% 0.0000507 95,156.25 970,156.25 1,826 1/16/2019 6/22/2022 FA FFCB 2.06% CALL 1/23/19 CONT 1,205,000.00 1,180,900.00 2.673% 0.0000841 109,325.63 1,290,225.63 1,253 6/29/2017 6/29/2022 FA FHLMC 2.15% QRTL Y CALL 2,500,000.00 2,500,000.00 2.150% 0.0001432 268,750.00 2,768,750.00 1,826 12/19/2017 6/29/2022 FA FHLMC 2.15% QRTL Y CALL 1,500,000.00 1,494,000.00 2.243% 0.0000893 152,020.83 1,646,020.83 1,653 1/8/2018 7/1/2022 FA FHLMC 2.22% ONE CALL 7/1/20 1,500,000.00 1,500,000.00 2.220% 0.0000887 149,202.50 1,649,202.50 1,635 4/27/2018 7/18/2022 FA FHLMC 1.75% CALL 7/18/18 QRTLY STEP 1,000,000.00 981 ,100.00 2.901 % 0.0000758 121,837.50 1,102,937.50 1,543 11/3/2017 7/26/2022 FA FFCB 2.15% CALL 1/26/18 CONT 1,400,000.00 1,400,000.00 2.150% 0.0000802 142,389.72 1,542,389.72 1,726 4/17/2018 8/23/2022 FA FFCB 1.670% CALL 4/23/18 CONT 2,000,000.00 1,912,000.00 2.750% 0.0001401 233,290.00 2,145,290.00 1,589 12/1/2017 9/9/2022 FA FHLB 2.0% NON-CALL 1,750,000.00 1,739,692.50 2.130% 0.0000987 177,335.28 1,917,027.78 1,743 12/1/2017 9/12/2022 FA FFCB 1.94% CALL 9/12/18 CONT 1,250,000.00 1,236,950.00 2.171 % 0.0000716 128,978.47 1,365,928.47 1,746 1/15/2019 9/26/2022 FA FHLB 2.15% CALL 3/26/19 QTL Y 1,000,000.00 979,710.00 2.730% 0.0000713 99,780.28 1,079,490.28 1,350 9/28/2017 9/28/2022 FA FNMA 2.0% ONE CALL 9/28/18 2,500,000.00 2,500,000.00 2.000% 0.0001332 249,861.11 2,749,861 .11 1,826 3/9/2018 10/5/2022 FA FNMA 2.0% NON-CALL 1,000,000.00 971 ,120.00 2.000% 0.0000518 120,324.44 1,091,444.44 1,671 10/5/2018 10/5/2022 FA FNMA 2.0% NON-CALL 1,000,000.00 962,570.00 3.000% 0.0000770 117,430.00 1,080,000.00 1,461 8/3/2018 10/12/2022 FA FHLB 1.875% CALL 8/9/18 CONT 1,250,000.00 1,199,750.00 2.900% 0.0000927 148,492.19 1,348,242.19 1,531 10/26/2017 10/26/2022 FA FHLMC 2.05% CALL 1/26/18 3,250,000.00 3,250,000.00 2.342% 0.0002028 382,687.50 3,632,687.50 1,826 11/30/2017 11/28/2022 FA FHLMC 2.05% CALL 1/26/18 2,500,000.00 2,500,000.00 2.300% 0.0001532 287,180.56 2,787,180.56 1,824 4/24/2018 12/9/2022 FA FHLB 2.5% NON-CALL 2,250,000.00 2,215,102.50 2.500% 0.0001476 295,053.75 2,510,156.25 1,690 12/27/2017 12/27/2022 FA FHLMC 2.30% CALL 12/27/19 3,000,000.00 3,000,000.00 2.300% 0.0001839 345,000.00 3,345,000.00 1,826 12/29/2017 12/29/2022 FA FHLMC 2.5% CALL 3/29/18 2,000,000.00 2,000,000.00 2.500% 0.0001332 250,000.00 2,250,000.00 1,826 3/9/2018 1/30/2023 FA FHLMC 2.55% 1/30/19 QRTLY 2,000,000.00 1,970,800.00 2.872% 0.0001508 278,675.00 2,249,475.00 1,788 2/23/2018 2/1/2023 FA FHLB 2.63% NON-CALL 2,750,000.00 2,722,500.00 2.848% 0.0002066 384,705.14 3,107,205.14 1,804 Page 3 4/12/2019 May 21, 2019 Item #1 Page 17 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MARCH 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Daysi 4/10/2018 2/16/2023 FA FHLMC 2.625% CALL QRTL Y 2,500,000.00 2,474,500.00 2.851 % 0.0001880 343,781.25 2,818,281 .25 1,773 2/13/2018 2/28/2023 FA FHLB 2.850% CALL 2/28/19 CONT 1,000,000.00 1,000,000.00 2.850% 0.0000759 142,500.00 1,142,500.00 1,841 3/13/2018 2/28/2023 FA FHLMC 2.25% CALL 8/28/18 QRTL Y STEP 1,250,000.00 1,250,000.00 3.129% 0.0001042 195,703.12 1,445,703.12 1,813 3/22/2019 3/10/2023 FA FHLB 2.75% BULLET 2,000,000.00 2,028,220.00 2.375% 0.0001284 189,946.67 2,218,166.67 1,449 5/4/2018 4/25/2023 FA FFCB 3.0% CALL 4/25/19 CONT 2,500,000.00 2,496,250.00 3.033% 0.0002018 376,875.00 2,873,125.00 1,817 4/27/2018 4/27/2023 FA FHLMC 3.05% CALL 7/27/18 QRTLY 2,000,000.00 2,000,000.00 3.050% 0.0001626 305,000.00 2,305,000.00 1,826 5/4/2018 4/27/2023 FA FHLMC 3.05% CALL 7/27/18 QRTLY 2,415,000.00 2,412,585.00 3.072% 0.0001975 369,270.27 2,781,855.27 1,819 6/4/2018 6/26/2023 FA FHLMC 3.05% CALL 6/26/20 ONE CALL 1,250,000.00 1,250,000.00 3.050% 0.0001016 190,625.00 1,440,625.00 1,848 7/24/2018 6/27/2023 FA FFCB 3.2% CALL 6/27/19 CONT 1,000,000.00 999,500.00 3.211 % 0.0000855 158,100.00 1,157,600.00 1,799 8/3/2018 6/28/2023 FA FHLMC 3.25% CALL 6/28/19 QRTLY 2,000,000.00 1,999,000.00 3.260% 0.0001737 319,680.56 2,318,680.56 1,790 7/24/2018 6/29/2023 FA FHLMC 3.10% CALL 6/29/20 ONE CALL 1,000,000.00 1,000,000.00 3.100% 0.0000826 152,847.22 1,152,847.22 1,801 8/3/2018 7/25/2023 FA FFCB 3.22% CALL 7/25/19 CONT 1,500,000.00 1,498,500.00 3.242% 0.0001295 241,926.67 1,740,426.67 1,817 7/30/2018 7/28/2023 FA FHLMC 3.07% CALL 7/28/20 ONE TIME 2,500,000.00 2,500,000.00 3.070% 0.0002045 383,323.61 2,883,323.61 1,824 11/7/2018 8/1/2023 FA FFCB 2.35% CALL 11/14/15 CONT 1,400,000.00 1,349,866.00 3.170% 0.0001140 205,860.67 1,555,726.67 1,728 11/8/2018 8/1/2023 FA FFCB 2.35% CALL 11/15/18 CONT 1,350,000.00 1,299,375.00 3.210% 0.0001112 200,701 .88 1,500,076.88 1,727 8/24/2018 8/24/2023 FA FH LB 3.125% CALL 8/24/20 ONE TIME 1,750,000.00 1,750,000.00 3.125% 0.0001457 273,437.50 2,023,437.50 1,826 9/18/2018 9/5/2023 FA FFCB 2.8% NON-CALL 1,000,000.00 991,290.00 2.990% 0.0000790 147,698.89 1,138,988.89 1,813 10/10/2018 9/5/2023 FA FFCB 2.8% NON-CALL 2,300,000.00 2,266,190.00 3.125% 0.0001887 349,548.89 2,615,738.89 1,791 2/27/2019 9/12/2023 FA FNMA 2.875% BULLET 1,000,000.00 1,016,210.00 2.495% 0.0000676 114,362.92 1,130,572.92 1,658 9/18/2018 9/18/2023 FA FHLB 3.06% CALL 9/18/20 ONE TIME 1,000,000.00 999,250.00 3.076% 0.0000819 153,750.00 1,153,000.00 1,826 9/28/2018 9/28/2023 FA FHLB 3.2% CALL 9/28/20 ONE TIME 1,250,000.00 1,250,000.00 3.200% 0.0001066 200,000.00 1,450,000.00 1,826 10/4/2018 10/4/2023 FA FFCB 3.34% CALL 10/04/19 CONT 1,000,000.00 1,000,000.00 3.340% 0.0000890 167,000.00 1,167,000.00 1,826 10/17/2018 10/2/2023 FA FFCB 3.05% NON-CALL 2,500,000.00 2,493,150.00 3.050% 0.0002026 384,922.92 2,878,072.92 1,811 11/7/2018 10/10/2023 FA FAMCA 3.41 % CALL 10/10/19 SEMI ANNUAL 1,150,000.00 1,147,987.50 3.449% 0.0001055 195,146.38 1,343,133.88 1,798 2/7/2019 10/23/2023 FA FFCB 3.0% BULLET 1,000,000.00 1,017,530.00 2.602% 0.0000706 123,803.33 1,141 ,333.33 1,719 11/19/2018 11/22/2023 FA FAMCA 3.48% CALL 11/22/19 SEMI ANNUAL 2,600,000.00 2,600,000.00 3.480% 0.0002411 451 ,394.67 3,051,394.67 1,829 11/27/2018 11/27/2023 FA FHLB 3.35% CALL 11/27/20 ONE TIME 1,800,000 .00 1,800,000.00 3.350% 0.0001607 301,500.00 2,101,500.00 1,826 12/6/2018 12/18/2023 FA FHLMC 3.5% CALL 6/18/19 QTL Y 1,500,000.00 1,500,000.00 3.500% 0.0001399 262,500.00 1,762,500.00 1,838 12/18/2018 12/18/2023 FA FHLB 3.050% CALL 12/18/19 1,150,000.00 1,750,000.00 3.050% 0.0001422 266,875.00 2,016,875.00 1,826 12/28/2018 12/28/2023 FA FHLB 3.10% CALL 12/28/20 2,000,000.00 2,000,000.00 3.100% 0.0001652 310,000.00 2,310,000.00 1,826 1/22/2019 1/22/2024 FA FFCB 3.01% CALL 1/22/20 CONT 1,750,000.00 1,750,000.00 3.010% 0.0001404 263,375.00 2,013,375.00 1,826 1/29/2019 1/29/2024 FA FHLB 2.875% CALL 1/29/21 ONE TIME 1,500,000.00 1,501,125.00 2.859% 0.0001144 214,500.00 1,715,625.00 1,826 1/30/2019 1/30/2024 FA FHLB 3.050% CALL 1/30/20 QTL Y 2,500,000.00 2,500,000.00 3.050% 0.0002032 381 ,250.00 2,881 ,250.00 1,826 2/26/2019 2/26/2024 FA FHLB 2.8% CALL 2/26/21 ONE TIME 2,500,000.00 2,500,000.00 2.800% 0.0001865 350,000.00 2,850,000.00 1,826 3/6/2019 2/27/2024 FA FFCB 2.61% BULLET 1,500,000.00 1,498,950.00 2.610% 0.0001043 195,821 .25 1,694,771 .25 1,819 3/8/2019 3/8/2024 FA FHLB 3.25% BULLET 3,000,000.00 3,100,851 .00 2.530% 0.0002091 386,649.00 3,487,500.00 1,827 3/18/2019 3/18/2024 FA FFCB 2.94% CALL 6/18/19 2,000,000.00 2,000,000.00 2.940% 0.0001567 294,000.00 2,294,000.00 1,827 3/20/2019 3/20/2024 FA FAMCA 3.0% CALL 9/20/19 CONT 2,000,000.00 2,000,000.00 2.940% 0.0001567 300,000.00 2,300,000.00 1,827 SUB-TOTAL FA 374,793,000.00 375,249,180.65 1.884% 28,584,682.11 407,058,833.01 1,436 1/21/2015 4/5/2019 FN FICO 0% NON-CALL 4,000,000.00 3,772,000.00 1.400% 0.0032248 228,000.00 4,000,000.00 1,535 4/1/2015 9/26/2019 FN FICO 0% NON-CALL 2,100,000.00 1,958,591.39 1.560% 0.0018658 141,408.61 2,100,000.00 1,639 9/23/2015 9/26/2019 FN FICO 0% NON-CALL 3,200,000.00 3,003,168.00 1.590% 0.0029160 196,832.00 3,200,000.00 1,464 3/3/2015 10/9/2019 FN FNMA 0% NON-CALL 2,000,000.00 1,825,044.00 2.000% 0.0022290 174,956.00 2,000,000.00 1,681 11n/2016 10/9/2019 FN FNMA 0% NON-CALL 2,200,000.00 2,115,792.80 1.340% 0.0017313 84,207.20 2,200,000.00 1,066 1/27/2017 10/9/2019 FN FNMA 0% NON-CALL 1,000,000.00 950,223.00 1.900% 0.0011025 49,777.00 1,000,000.00 985 10/23/2015 10/15/2020 FN RFCSP 0% NON-CALL 3,000,000.00 2,750,760.00 1.750% 0.0029396 249,240.00 3,000,000.00 1,81 9 SUB-TOTAL 17,500,000.00 16,375,579.19 1.6009% 1,124,420.81 17,500,000.00 1,456 Page 4 4/12/201 9 May 21, 2019 Item #1 Page 18 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MARCH 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) Federal Investments Total 392,293,000.00 391,624,759.84 29,709,102.92 424,558,833.01 1,458 8/3/2017 8/10/2020 SN IBRD 1.125% NON-CALL 2,000,000.00 1,972,100.00 1.600% 0.0018062 95,837.50 2,067,937.50 1,103 11/8/2018 9/4/2020 SN IBRD 1.625% NON-CALL 1,100,000.00 1,074,711.00 2.930% 0.0018025 57,859.27 1,132,570.27 666 1/8/2018 10/5/2020 SN IBRD 1.625% ONE CALL 4/5/19 STEP 1,500,000.00 1,486,500.00 2.164% 0.0018414 88,765.62 1,575 ,265.62 1,001 1/8/2018 1/18/2022 SN IADB 2.125% NON-CALL 2,000,000.00 1,988,880.00 2.270% 0.0025844 182,300.56 2,171,180.56 1,471 12/18/2017 1/26/2022 SN IBRD 2.00% NON-CALL 2,500,000.00 2,485,325.00 2.150% 0.0030587 219,952.78 2,705,277.78 1,500 10/10/2017 10/7/2022 SN IBRD 1.875% NON-CALL 1,300,000.00 1,290,907.89 2.024% 0.0014956 130,763.88 1,421 ,671 .77 1,823 2/8/2019 10/24/2022 SN IFC 2.0% BULLET 1,500,000.00 1,470,780.00 2.553% 0.0002228 140,553.33 1,611 ,333.33 1,354 1/18/2018 1/18/2023 SN IADB 2.50% NON-CALL 1,700,000.00 1,702,652.00 2.467% 0.0024044 209,848.00 1,912,500.00 1,826 1/24/2018 1/18/2023 SN IADB 2.50% NON-CALL 1,000,000.00 997,670.00 2.550% 0.0014563 126,913.33 1,124,583.33 1,820 2/15/2019 2/15/2024 SN QTL YIBRD 2.625% (STEP) CALL 2/15/21 3,000,000.00 3,000,000.00 2.625% 0.0045078 468,750.00 3,468,750.00 1,826 Supranational Investment Total 17,600,000.00 17,469,525.89 2.118% 1,721,544.27 19,191,070.16 1,439 12/19/2016 4/30/2019 TR US TREASURY 1.25% 800,000.00 798,640.00 1.323% 0.0001291 25,006.41 823,646.41 862 7/21/2015 5/31/2019 TR US TREASURY 1.5% 1,500,000.00 1,505,156.25 1.408% 0.0002589 81 ,708.50 1,586,864.75 1,410 2/21/2017 5/31/2019 TR US TREASURY 1.5% 800,000.00 803,875.00 1.283% 0.0001260 23,388.74 827,263.74 829 8/1/2014 7/31/2019 TR US TREASURY 1.625% 2,515,000.00 2,500,019.15 1.750% 0.0005346 219,213.54 2,719,232.69 1,825 10/6/2014 8/31/2019 TR US TREASURY 1.00% 1,000,000.00 964,920.00 1.036% 0.0001221 84,085.52 1,049,005.52 1,790 1/10/2017 8/31/2019 TR US TREASURY 1.625% 1,250,000.00 1,258,593.75 1.358% 0.0002088 44,936.98 1,303,530.73 963 12/22/2016 2/29/2020 TR US TREASURY 1.375% 2,200,000.00 2,184,531 .25 1.602% 0.0004276 111,901 .07 2,296,432.32 1,164 1/10/2017 2/29/2020 TR US TREASURY 1.375% 1,400,000.00 1,395,520.00 1.480% 0.0002524 64,835.66 1,460,355.66 1,145 5/24/2016 4/30/2020 TR US TREASURY 1.375% 2,300,000.00 2,315,093.75 1.204% 0.0003406 109,343.75 2,424,437.50 1,437 12/19/2016 6/30/2020 TR US TREASURY 1.625% 1,350,000.00 1,345,570.31 1.721% 0.0002829 81 ,926.29 1,427,496.60 1,289 12/2/2016 7/31/2020 TR US TREASURY 1.625% 1,500,000.00 1,500,000.00 1.625% 0.0002978 89,286.68 1,589,286.68 1,337 6/7/2017 7/31/2020 TR US TREASURY 1.625% 2,000,000.00 2,011,320.00 1.440% 0.0003539 91,028.07 2,102,348.07 1,150 9/22/2015 8/31/2020 TR US TREASURY 2.125% 3,000,000.00 3,085,500.00 2.097% 0.0007906 229,396.98 3,314,896.98 1,805 10/28/2016 10/31/2020 TR US TREASURY 1.375% 1,750,000.00 1,759,570.31 1.235% 0.0002655 86,875.85 1,846,446.16 1,464 12/2/2016 10/31/2020 TR US TREASURY 1.375% 1,200,000.00 1,186,200.00 1.680% 0.0002435 78,341.44 1,264,541.44 1,429 1/13/2017 10/31/2020 TR US TREASURY 1.375% 1,300,000.00 1,289,234.38 1.601 % 0.0002522 78,611 .61 1,367,845.99 1,387 1/5/2016 12/31/2020 TR US TREASURY 2.375% 4,000,000.00 4,127,500.00 1.705% 0.0008599 346,195.00 4,473,695.00 1,822 5/5/2016 12/31/2020 TR US TREASURY 1.75% 2,000,000.00 2,049,174.00 1.205% 0.0003017 113,710.62 2,162,884.62 1,701 1/20/2017 2/28/2021 TR US TREASURY 1.125% 2,750,000.00 2,673,515.63 1.831% 0.0005981 203,567.42 2,877,083.05 1,500 2/17/2017 2/28/2021 TR US TREASURY 1.125% 1,225,000.00 1,194,853.52 1.760% 0.0002570 85,690.25 1,280,543.77 1,472 5/9/2017 3/31/2021 TR US TREASURY 1.25% 1,400,000.00 1,374,786.00 1.730% 0.0002906 93,349.25 1,468,135.25 1,422 8/19/2016 4/30/2021 TR US TREASURY 1.375% 3,000,000.00 3,037,662.00 1.100% 0.0004083 156,145.74 3,193,807.74 1,715 12/16/2016 5/31/2021 TR US TREASURY 2.000% 2,250,000.00 2,250,000.00 2.000% 0.0005498 200,521 .98 2,450,521.98 1,627 10/28/2016 6/30/2021 TR US TREASURY 1.125% 2,500,000.00 2,477,400.00 1.325% 0.0004011 154,053.80 2,631,453.80 1,706 12/16/2016 6/30/2021 TR US TREASURY 1.125% 2,650,000.00 2,547,312.50 2.022% 0.0006293 238,058.93 2,785,371.43 1,657 1/20/2017 7/31/2021 TR US TREASURY 1.125% 1,500,000.00 1,448,203.1 3 1.925% 0.0003406 145,113.79 1,593,316.92 1,653 2/20/2018 8/31/2021 TR US TREASURY 1.125% 2,000,000.00 1,911 ,080.00 2.450% 0.0005721 168,167.24 2,079,247.24 1,288 12/2/2016 9/30/2021 TR US TREASURY 2.125% 1,600,000.00 1,615,500.00 1.913% 0.0003776 148,615.38 1,764,115.38 1,763 3/10/2017 9/30/2021 TR US TREASURY 1.125% 1,200,000.00 1,150,500.00 2.078% 0.0002921 111,028.85 1,261,528.85 1,665 5/19/2017 9/30/2021 TR US TREASURY 1.125% 1,500,000.00 1,464,375.00 1.691 % 0.0003026 109,303.28 1,573,678.28 1,595 2/14/2018 9/30/2021 TR US TREASURY 2.125% 1,500,000.00 1,486,406.25 2.387% 0.0004335 129,096.84 1,615,503.09 1,324 11/17/2016 10/31/2021 TR US TREASURY 2.00% 2,000,000.00 2,030,000.00 1.683% 0.0004174 168,121.55 2,198,121 .55 1,809 11/18/2016 10/31/2021 TR US TREASURY 2.00% 2,000,000.00 2,028,360.00 1.700% 0.0004213 169,651.15 2,198,011.15 1,808 Page 5 4/12/201 9 May 21, 2019 Item #1 Page 19 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MARCH 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 11/22/2016 11/15/2021 TR US TREASURY 2.00% 2,000,000.00 2,016,562.50 1.825% 0.0004497 182,664.02 2,199,226.52 1,819 1/6/2017 12/31/2021 TR US TREASURY 2.125% 4,000,000.00 4,052,128.00 1.850% 0.0009160 371 ,463.16 4,423,591.16 1,820 2/3/2017 12/31/2021 TR US TREASURY 2.125% 1,850,000.00 1,867,632.81 1.920% 0.0004381 175,237.36 2,042,870.17 1,792 1/20/2017 1/31/2022 TR US TREASURY 1.50% 3,000,000.00 2,928,555.00 2.000% 0.0007157 297,790.11 3,226,345.11 1,837 3/2/2017 3/31/2022 TR US TREASURY 1.750% 3,000,000.00 2,963,925.00 2.000% 0.0007243 302,757.69 3,266,682.69 1,855 5/15/2017 5/15/2022 TR US TREASURY 1.750% 2,000,000.00 1,985,625.00 1.901% 0.0004612 189,375.00 2,175,000.00 1,826 8/25/2017 7/31/2022 TR US TREASURY 1.875% 1,250,000.00 1,257,346.25 1.750% 0.0002689 108,249.03 1,365,595.28 1,801 8/31/2017 8/31/2022 TR US TREASURY 1.875% 3,000,000.00 3,019,290.00 1.740% 0.0006419 261 ,960.00 3,281,250.00 1,826 11/28/2017 11/15/2022 TR US TREASURY 1.625% 1,000,000.00 980,950.00 2.030% 0.0002433 99,716.44 1,080,666.44 1,813 SUB-TOTAL TR 82,040,000.00 81,842,386.74 1.720% 6,229,490.97 88,071,877.71 1,552 6/30/2015 4/9/2019 CN MASS MUTUAL GLOBAL 2.35% NON-CALL 3,250,000.00 3,286,335.00 2.040% 0.0003978 251,980.62 3,538,315.62 1,379 10/8/2015 5/6/2019 CN APPLE 2.10% MAKE WHOLE CALL 2,500,000.00 2,558,025.00 1.432% 0.0002174 129,808.33 2,687,833.33 1,306 5/27/2015 5/15/2019 CN IBM CORP 1.8750% NON-CALL 2,150,000.00 2,169,715.50 1.635% 0.0002105 140,190.75 2,309,906.25 1,449 7/16/2015 7/18/2019 CN TOYOTA 2.125% NON-CALL 2,000,000.00 2,009,760.00 1.998% 0.0002383 160,476.11 2,170,236.11 1,463 1/22/2018 9/24/2019 CN WELLS FARGO BANK 1.75% NON-CALL 3,000,000.00 2,983,050.00 2.180% 0.0003859 87,241 .67 3,070,291.67 610 11/18/2014 11/15/2019 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 3,000,000.00 3,017,400.00 2.070% 0.0003706 311,001.75 3,328,401.75 1,823 12/22/2015 11/15/2019 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 2,800,000.00 2,811,200.00 2.083% 0.0003475 228,105.03 3,039,305.03 1,424 12/13/2017 11/15/2019 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 2,500,000.00 2,512,725.00 1.190% 0.0001774 92,660.83 2,605,385.83 702 4/20/2016 12/5/2019 CN JOHNSON & JOHNSON 1.875% MAKE WHOLE CALL 2,250,000.00 2,315,250.00 1.057% 0.0001452 87,679.69 2,402,929.69 1,324 1/17/2018 12/6/2019 CN WELLS FARGO BANK2.15% 2,500,000.00 2,499,750.00 2.155% 0.0003196 101,628.47 2,601,378.47 688 4/9/2015 2/11/2020 CN NY LIFE GOLBAL 1.95% NON-CALL 2,000,000.00 2,017,520.00 1.760% 0.0002107 171,196.67 2,188,716.67 1,769 1/20/2017 2/11/2020 CN NY LIFE GOLBAL 1.95% NON-CALL 2,000,000.00 2,000,000.00 1.950% 0.0002314 119,275.00 2,119,275.00 1,117 9/25/2015 3/3/2020 CN CVX 1.961 % MAKE WHOLE CALL(CHEVRON) 2,800,000.00 2,790,704.00 2.039% 0.0003376 253,026.51 3,043,730.51 1,621 11/4/2015 3/6/2020 CN EXXON MOBIL 1.912% MAKE WHOLE CALL 5,000,000.00 5,057,700.00 1.630% 0.0004892 357,097.78 5,414,797.78 1,584 11/3/2015 5/6/2020 CN APPLE 2.0% MAKE WHOLE CALL 4,000,000.00 4,028,000.00 1.837% 0.0004390 332,666.66 4,360,666.66 1,646 5/24/2016 5/15/2020 CN IBM 1.625% MAKE-WHOLE CALL 1,500,000.00 1,503,000.00 1.573% 0.0001403 93,890.62 1,596,890.62 1,452 11/3/2015 8/7/2020 CN MMM 2.0% MAKE WHOLE CALL 3,500,000.00 3,554,215.00 1.660% 0.0003501 279,062.78 3,833,277.78 1,739 9/25/2015 9/1/2020 CN JOHNSON & JOHNSON 2.95% MAKE WHOLE 1,000,000.00 1,058,028.49 1.718% 0.0001079 87,504.84 1,145,533.33 1,803 9/24/2015 9/15/2020 CN AUTOMATIC DATA PROCESSING 2.25% MAKE-WHOLI 4,000,000.00 4,029,600.00 2.090% 0.0004997 418,150.00 4,447,750.00 1,818 11/10/2015 11/3/2020 CN MICROSOFT 2.00% MAKE WHOLE CALL 5,000,000.00 5,018,550.00 1.920% 0.0005717 479,505.56 5,498,055.56 1,820 6/10/2016 11/3/2020 CN MICROSOFT 2.00% MAKE WHOLE CALL 1,500,000.00 1,539,450.00 1.370% 0.0001251 92,466.67 1,631 ,916.67 1,607 11/13/2017 11/13/2020 CN APPLE INC 2.0% MAKE WHOLE CALL 2,500,000.00 2,497,900.00 2.000% 0.0002964 152,100.00 2,650,000.00 1,096 1/7/2019 12/15/2020 CN WALMART 1.9% MAKE WHOLE 1,500,000.00 1,481,805.00 2.545% 0.0002238 73,453.33 1,555,258.33 708 6/29/2017 12/29/2020 CN TOYOTA 2.0% CALL 6/29/20 3,000,000.00 3,000,000.00 2.000% 0.0003560 210,000.00 3,210,000.00 1,279 2/26/2018 1/15/2021 CN WELLS FARGO BANK 2.6% NON-CALL 2,000,000.00 1,982,700.00 2.914% 0.0003428 167,377.77 2,150,077.77 1,054 4/28/2016 3/1/2021 CN EXXON MOBIL 2.222% MAKE WHOLE CALL 2,000,000.00 2,042,900.00 1.750% 0.0002121 172,263.67 2,215,163.67 1,768 7/26/2016 3/1/2021 CN EXXON MOBIL 2.222% MAKE WHOLE CALL 1,000,000.00 1,034,050.00 1.440% 0.0000884 68,038.55 1,102,088.55 1,679 9/16/2016 4/8/2021 CN TOYOTA 1.90% MAKE WHOLE CALL 3,000,000.00 3,031,680.00 1.659% 0.0002984 228,303.33 3,259,983.33 1,665 6/13/2018 5/16/2021 CN CHEVRON 2.1% MAKE WHOLE 3,250,000.00 3,175,770.00 2.920% 0.0005502 273,861 .25 3,449,631.25 1,068 5/26/2016 5/19/2021 CN ALPHABET, INC 3.625% MAKE WHOLE CALL 1,000,000.00 1,094,000.00 1.651% 0.0001072 86,545.14 1,180,545.14 1,819 4/17/2017 5/19/2021 CN ALPHABET, INC 3.625% MAKE WHOLE CALL 2,000,000.00 2,136,700.00 1.883% 0,0002387 159,744.44 2,296,444.44 1,493 5/14/2017 5/19/2021 CN ALPHABET, INC 3.625% MAKE WHOLE CALL 2,000,000.00 2,133,400.00 1.900% 0.0002405 159,620.83 2,293,020.83 1,466 9/13/2016 8/8/2021 CN MIRCOSOFT 1.55% MAKE WHOLE CALL 6,000,000.00 5,995,740.00 1.565% 0.0005568 460,218.33 6,455,958.33 1,790 2/7/2017 8/8/2021 CN MIRCOSOFT 1.55% MAKE WHOLE CALL 2,000,000.00 1,947,120.00 2.170% 0.0002507 192,466.11 2,139,586.11 1,643 2/22/2018 8/8/2021 CN MIRCOSOFT 1.55% MAKE WHOLE CALL 1,500,000.00 1,441,912.50 2.730% 0.0002336 138,558.33 1,580,470.83 1,263 10/14/2016 9/1/2021 CN COCA COLA 1.55% MAKE WHOLE CALL 3,600,000.00 3,581,496.00 1.660% 0.0003528 290,839.00 3,872,335.00 1,783 1/10/2018 9/1/2021 CN COCA COLA 3.30% MAKE WHOLE CALL 1,500,000.00 1,549,740.00 2.344% 0.0002155 130,522.50 1,680,262.50 1,330 Page 6 4/12/2019 May 21, 2019 Item #1 Page 20 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MARCH 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Daysi 11/7/2016 11/1/2021 CN IBM 2.90% MAKE WHOLE CALL 1,000,000.00 1,052,600.00 1.792% 0.0001119 91 ,916.67 1,144,516.67 1,820 10/10/2017 11/3/2021 CN PROCTER & GAMBLE 1.7% NON-CALL 2,000,000.00 1,982, 1 OD.OD 1.930% 0.0002270 156,072.22 2,138,172.22 1,485 12/4/2017 11/15/2021 CN COLGATE PALMOLIVE 2.450% MAKE WHOLE 2,250,000.00 2,271,141 .00 2.200% 0.0002965 196,449.62 2,467,590.62 1,442 12/20/2017 2/6/2022 CN MICROSOFT 2.4% MAKE WHOLE 1,250,000.00 1,254,025.00 2.316% 0.0001723 119,808.33 1,373,833.33 1,509 3/7/2019 3/3/2022 CN JOHNSON & JOHNSON 2.25% CALL 2/3/22 CONT 1,250,000.00 1,236,787.50 2.620% 0.0001923 97,275.00 1,334,062.50 1,092 3/6/2017 3/6/2022 CN EXXON MOBLIE 2.397% MAKE WHOLE 2,000,000.00 2,003,380.00 2.360% 0.0002805 236,320.00 2,239,700.00 1,826 5/23/2017 5/11/2022 CN APPLE INC 2.3% MAKE WHOLE 3,300,000.00 3,318,150.00 2.181% 0.0004294 358,820.00 3,676,970.00 1,814 12/6/2017 5/15/2022 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE CALL 1,503,000.00 1,540,770.39 2.400% 0.0002194 162,504.36 1,703,274.75 1,621 1/8/2018 5/15/2022 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE CALL 1,000,000.00 1,023,300.00 2.432% 0.0001477 107,283.33 1,130,583.33 1,588 10/9/2018 5/15/2022 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE CALL 1,100,000.00 1,091 ,810.50 3.220% 0.0002086 126,989.50 1,218,800.00 1,314 2/19/2019 5/17/2022 CN TOYOTA 3.083% BULLET 2,000,000.00 2,000,000.00 3.083% 0.0003659 200,044.66 2,200,044.66 1,183 8/9/2018 6/1/2022 CN BLACKROCK 3.375% MAKE WHOLE 1,000,000.00 1,011,600.00 3.050% 0.0001831 117,306.25 1,128,906.25 1,392 8/24/2017 7/13/2022 CN TOYOTA 2.8% MAKE WHOLE 1,500,000.00 1,547,160.00 2.119% 0.0001945 158,056.67 1,705,216.67 1,784 1/16/2019 7/13/2022 CN TOYOTA 2.8% MAKE WHOLE 1,500,000.00 1,483,770.00 3.129% 0.0002755 162,880.00 1,646,650.00 1,274 11/6/2017 8/11/2022 CN PROCTER & GAMBLE 2.15% MAKEWHOLE 1,800,000.00 1,799,161.20 2.160% 0.0002306 185,201.30 1,984,362.50 1,739 11/9/2018 8/11/2022 CN PROCTER & GAMBLE 2.15% MAKEWHOLE 1,900,000.00 1,826,627.70 3.250% 0.0003522 226,786.74 2,053,414.44 1,371 1/18/2018 9/21/2022 CN NOVARTIS CAPITAL CORP 2.4% MAKEWHOLD 1,500,000.00 1,489,500.00 2.560% 0.0002263 178,400.00 1,667,900.00 1,707 1/4/2018 11/15/2022 CN COLGATE-PALMOLIVE 2.25% MAKEWHOLE 2,000,000.00 1,982,400.00 2.443% 0.0002874 236,475.00 2,218,875.00 1,776 9/17/2018 11/15/2022 CN COLGATE-PALMOLIVE 2.25% MAKEWHOLE 2,000,000.00 1,935,820.00 3.077% 0.0003534 251,430.00 2,187,250.00 1,520 12/6/2017 11/29/2022 CN TOYOTA 2.125% NON-CALL FLOATING 2,250,000.00 2,250,000.00 2.125% 0.0002837 238,132.81 2,488,132.81 1,819 1/14/2019 12/15/2022 CN WALMART 2.35% MAKE WHOLE 2,720,000.00 2,653,088.00 3.020% 0.0004754 317,442.89 2,970,530.89 1,431 1/24/2018 1/26/2023 CN TOYOTA 2.75% NON-CALL FLOATING 3,000,000.00 3,000,000.00 2.750% 0.0004895 412,500.00 3,412,500.00 1,828 3/20/2018 3/15/2023 CN BERKSHIRE HATHAWAY 2.75% MAKEWHOLE 1,000,000.00 983,890.00 3.101% 0.0001810 153,228.06 1,137,118.06 1,821 4/18/2018 3/15/2023 CN BERKSHIRE HATHAWAY 2.75% MAKEWHOLE 1,750,000.00 1,719,130.00 3.140% 0.0003203 267,083.54 1,986,213.54 1,792 4/25/2018 3/15/2023 CN BERKSHIRE HATHAWAY 2.75% MAKEWHOLE 2,000,000.00 1,953,300.00 3.270% 0.0003790 315,588.89 2,268,888.89 1,785 5/7/2018 4/11/2023 CN WALMART 2.55% CALL 1/11/23 1,000,000.00 974,100.00 3.121% 0.0001804 151,558.33 1,125,658.33 1,800 12/18/2018 4/11/2023 CN WALMART 2.55% CALL 1/11/23 1,000,000.00 969,800.00 3.301% 0.0001900 141,054.17 1,110,854.17 1,575 5/2/2018 5/1/2023 CN COLGATE-PALMOLIVE 2.10% MAKE WHOLE 4,666,000.00 4,443,179.84 3.140% 0.0008278 712,477.98 5,155,657.82 1,825 5/9/2018 5/3/2023 CN APPLE INC 2.4% MAKE WHOLE 4,000,000.00 3,862,600.00 3.150% 0.0007219 615,800.00 4,478,400.00 1,820 8/6/2016 6/26/2023 CN WALMART 3.4% MAKE WHOLE 1,750,000.00 1,763,895.00 3.220% 0.0003370 276,993.89 2,040,888.89 2,515 7/25/2018 6/26/2023 CN WALMART 3.40% MAKE WHOLE 1,500,000.00 1,512,000.00 3.220% 0.0002889 238,891.66 1,750,891.66 1,797 2/19/2019 6/26/2023 CN WALMART 3.40% CALL 5/26/23 1,000,000.00 1,025,140.00 2.770% 0.0001685 122,665.56 1,147,805.56 1,588 1/24/2019 7/24/2023 CN US BANK NA CINCINNATI 3.4% CALL 6/23/23 1,000,000.00 1,010,000.00 3.156% 0.0001891 143,000.00 1,153,000.00 1,642 7/24/2018 7/24/2023 CN US BANK 3.4% CALL 6/23/23 ONE TIME 1,250,000.00 1,251,625.00 3.371% 0.0002504 210,756.94 1,462,381.94 1,826 2/28/2019 7/24/2023 CN US BANK NA CINCINNATI 3.4% CALL 6/23/23 1,800,000.00 1,835, 1 DO.OD 2.916% 0.0003175 234,520.00 2,069,620.00 1,607 12/11/2018 7/24/2023 CN US BANK NA CINCINNATI 3.4% CALL 6/23/23 2,500,000.00 2,489,250.00 3.400% 0.0005022 32,347.22 2,521,597.22 1,686 10/1/2018 8/14/2023 CN WELLS FARGO BANK 3.55% MAKE WHOLE 1,500,000.00 1,500,000.00 3.550% 0.0003160 259,297.92 1,759,297.92 1,778 2/28/2019 8/14/2023 CN WELLS FARGO BANK 3.55% CALL 7/14/23 2,000,000.00 2,040,700.00 3.050% 0.0003693 276,038.89 2,316,738.89 1,628 1/28/2019 12/5/2023 CN JOHNSON & JOHNSON 3.375% NON CALL 1,500,000.00 1,541,250.00 2.765% 0.0002529 204,421.87 1,745,671.87 1,772 3/7/2019 1/8/2024 CN TOYOTA MOTOR CREDIT 3.35% BULLET 1,000,000.00 1,017,865.00 2.950% 0.0001782 144,144.72 1,162,009.72 1,768 SUB-TOTAL CN 168,139,000.00 168,532,907.62 2.285% 16,076,493.91 184,609,401.53 1,551 7/15/2015 7/15/2019 CD CAPTIAL ONE 1.95% NON-CALL 249,000.00 249,000.00 1.950% 0.0002734 19,422.00 268,422.00 1,461 7/24/2014 7/24/2019 CD AMERICAN EXPRESS BANK 2.00% 247,000.00 247,000.00 2.000% 0.0002782 24,700.00 271,700.00 1,826 8/28/2014 8/28/2019 CD ENERBANK USA 2.05% 247,000.00 247,000.00 2.050% 0.0002851 25,317.50 272,317.50 1,826 8/29/2014 8/29/2019 CD SYNCHRONY BANK 2.1% 247,000.00 247,000.00 2.100% 0.0002921 25,935.00 272,935.00 1,826 8/30/2016 8/30/2019 CD WASHINGTON TRUST 1.2% 248,000.00 248,000.00 1.200% 0.0001676 8,928.00 256,928.00 1,095 9/16/2016 9/16/2019 CD ISRAEL DISCOUNT BK OF NY 1.3% 248,000.00 248,000.00 1.300% 0.0001815 9,689.91 257,689.91 1,095 Page 7 4/12/2019 May 21, 2019 Item #1 Page 21 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MARCH 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN ~ 9/24/2014 9/24/2019 CD DISCOVER 2.15% 247,000.00 247,000.00 2.150% 0.0002990 26,552.50 273,552.50 1,826 9/24/2014 9/24/2019 CD GOLDMAN SACHS BANK2.15% 247,000.00 247,000.00 2.150% 0.0002990 26,552.50 273,552.50 1,826 10/8/2014 10/8/2019 CD CAPITAL ONE ABANK USA 2.10% 247,000.00 247,000.00 2.100% 0.0002921 25,935.00 272,935.00 1,826 10/10/2014 10/10/2019 CD GE CAPITAL BANK 2.0% 247,000.00 245,641 .50 2.000% 0.0002766 26,058.50 271,700.00 1,826 10/29/2014 10/29/2019 CD PEOPLES UTD BANK CT 1.9% 247,000.00 247,000.00 1.900% 0.0002643 23,465.00 270,465.00 1,826 11/3/2014 11/4/2019 CD WEBSTER BANK NAT'L ASSOC 1.9% 247,000.00 247,000.00 1.900% 0.0002643 23,465.00 270,465.00 1,827 12/3/2014 12/3/2019 CD CIT BANK SALT LAKE CITY 2.2% 247,000.00 247,000.00 2.200% 0.0003060 27,170.00 274,170.00 1,826 12/4/2014 12/4/2019 CD AMERICAN EXPRESS CENTURION 2.2% 247,000.00 247,000.00 2.200% 0.0003060 27,170.00 274,170.00 1,826 12/10/2014 12/10/2019 CD BMW BANK OF N AMERICA 2.15% 247,000.00 247,000.00 2.150% 0.0002990 26,552.50 273,552.50 1,826 12/23/2014 12/10/2019 CD SALLIE MAE BANK SALT LAKE 2.2% 247,000.00 247,000.00 2.200% 0.0003060 26,976.46 273,976.46 1,813 12/21/2017 12/23/2019 CD MORGAN STANLEY BANK 2.1% 247,000.00 247,000.00 2.100% 0.0002921 10,402.82 257,402.82 732 1/23/2015 1/23/2020 CD PRIVATE BANK & TRUST 1.90% 247,000.00 247,000.00 1.900% 0.0002643 23,465.00 270,465.00 1,826 7/24/2015 1/24/2020 CD EAGLE BANK 1.80% 249,000.00 249,000.00 1.800% 0.0002524 20,169.00 269,169.00 1,645 1/27/2015 1/27/2020 CD NORTHFIELD BANK 1.65% 249,000.00 249,000.00 1.650% 0.0002314 20,542.50 269,542.50 1,826 1/26/2018 1/27/2020 CD FLAGSTAR BANK 2.15% 247,000.00 247,000.00 2.150% 0.0002990 10,635.75 257,635.75 731 1/30/2015 1/30/2020 CD BANK OF GEORGETOWN 1.65% 249,000.00 249,000.00 1.650% 0.0002314 20,542.50 269,542.50 1,826 2/6/2015 2/6/2020 CD MACHIAS SAVINGS BANK 1.65% 247,000.00 247,000.00 1.650% 0.0002295 20,377.50 267,377.50 1,826 3/3/2015 2/26/2020 CD THIRD FEDERAL SAVING & LOAN 1.75% 247,000.00 246,407.20 1.754% 0.0002434 22,146.09 268,553.29 1,821 4/22/2015 4/22/2020 CD MARLIN BUSINESS BANK SALT LAKE 1.6% 247,000.00 247,000.00 1.600% 0.0002225 19,760.00 266,760.00 1,827 5/13/2015 5/13/2020 CD WORLD FOREMOST BANK SYDNEY 2.00% 200,000.00 200,000.00 2.000% 0.0002252 20,000.00 220,000.00 1,827 6/29/2015 6/29/2020 CD FIRST SOURCE BANK 1.85% 247,000.00 246,382.50 1.904% 0.0002642 23,465.00 269,847.50 1,827 7/31/2015 7/31/2020 CD INSTITUTION FOR SAVINGS 2.05% 249,000.00 249,000.00 2.050% 0.0002874 25,522.50 274,522.50 1,827 8/6/2015 8/20/2020 CD ORRSTOWN BANK 2.0% 249,000.00 249,000.00 2.000% 0.0002804 24,706.33 273,706.33 1,841 8/2/2017 8/3/2020 CD WEX BANK 1.85% 247,000.00 247,000.00 1.850% 0.0002573 13,721 .19 260,721.19 1,097 8/11/2015 8/25/2020 CD INVESTOR BANK 2.0% 247,000.00 247,000.00 2.000% 0.0002782 24,700.00 271,700.00 1,841 9/10/2015 9/10/2020 CD MERRICK BANK 1.85% 249,000.00 248,377.50 1.910% 0.0002671 23,655.00 272,032.50 1,827 9/22/2015 9/16/2020 CD BARCLAYS BANK 2.2% 248,000.00 248,000.00 2.200% 0.0003072 27,190.31 275,190.31 1,821 10/19/2015 10/13/2020 CD COMENITY CAP BANK 2.0% 249,000.00 249,000.00 2.000% 0.0002804 24,818.14 273,818.14 1,821 12/14/2017 12/14/2020 CD ALLY BANK2.10% 247,000.00 247,000.00 2.100% 0.0002921 15,561.00 262,561.00 1,096 1/15/2016 1/15/2021 CD INVESTORS CMNTY BANK 1.85% 249,000.00 249,000.00 1.850% 0.0002594 23,032.50 272,032.50 1,827 5/9/2018 5/10/2021 CD CONNECTONE BANK 2.85% 249,000.00 249,000.00 2.850% 0.0003996 21,309.21 270,309.21 1,097 6/10/2016 6/7/2021 CD UBS BANK USA SALT LAKE CITY 1.65% 249,000.00 249,000.00 1.650% 0.0002314 20,508.73 269,508.73 1,823 6/21/2018 6/21/2021 CD MERCANTIL BANK 3.0% 246,000.00 246,000.00 3.000% 0.0004156 22,140.00 268,140.00 1,096 6/22/2017 6/22/2021 CD LAKESIDE BANK 1.90% 249,000.00 249,000.00 1.900% 0.0002664 18,924.00 267,924.00 1,461 6/23/2016 6/23/2021 CD EAST BOSTON SAVING BANK 1.5% 248,000.00 248,000.00 1.500% 0.0002095 18,600.00 266,600.00 1,826 6/24/2016 6/24/2021 CD FIRST BUSINESS BK MADISON 1.5% 248,000.00 248,000.00 1.500% 0.0002095 18,600.00 266,600.00 1,826 6/30/2016 6/30/2021 CD FIRST TECHNOLOGY FEDERAL CR UNION 1.75% 248,000.00 248,000.00 1.750% 0.0002444 21 ,700.00 269,700.00 1,826 9/21 /2017 9/21/2021 CD PINACLE BANK TN 2.00% 249,000.00 249,000.00 2.000% 0.0002804 19,920.00 268,920.00 1,461 1/12/2018 1/12/2022 CD LCA BANK CORPORATION 2.3% 246,000.00 246,000.00 2.300% 0.0003186 22,632.00 268,632.00 1,461 1/18/2017 1/18/2022 CD MB FINANCIAL BANK 2.050% 249,000.00 249,000.00 2.050% 0.0002874 25,522.50 274,522.50 1,826 1/20/2017 1/20/2022 CD FIRST NATL BANKO AMERICA 2.05% 249,000.00 249,000.00 2.050% 0.0002874 25,522.50 274,522.50 1,826 1/24/2019 1/24/2022 CD DOLLAR BANK 2.85% BULLET 246,000.00 246,000.00 2.850% 0.0003948 21,033.00 267,033.00 1,096 6/7/2017 6/7/2022 CD MECHANTILE BANK OF MICHIGAN 2.10% 247,000.00 247,000.00 2.100% 0.0002921 25,935.00 272,935.00 1,826 7/31/2017 7/29/2022 CD KS STATE BANK2.1% 245,000.00 245,000.00 2.100% 0.0002897 25,710.71 270,710.71 1,824 8/16/2017 8/16/2022 CD EVERBANK 2.2% 247,000.00 247,000.00 2.200% 0.0003060 27,170.00 274,170.00 1,826 8/30/2017 8/30/2022 CD WILLAMETTE VALLEY BANK 2.1% 249,000.00 249,000.00 2.100% 0.0002945 26,145.00 275,145.00 1,826 9/29/2017 9/29/2022 CD ALLEGIANE BANK TEXS 2.15% 249,000.00 249,000.00 2.150% 0.0003015 26,767.50 275,767.50 1,826 9/14/2017 9/14/2022 CD FIRST BANK OF HIGHLAND 2.15% 247,000.00 247,000.00 2.150% 0.0002990 26,552.50 273,552.50 1,826 10/18/2017 10/18/2022 CD BENEFICIAL BANK 2.15% NON-CALL 247,000.00 247,000.00 2.150% 0.0002990 26,552.50 273,552.50 1,826 12/22/2017 12/22/2022 CD INDUSTRIAL & COML BAK CHINA 2.5% NON-CALL 249,000.00 249,000.00 2.500% 0.0003505 31,125.00 280,125.00 1,826 1/11/2019 1/11/2023 CD STERLING BANK 3.10% BULLET 246,000.00 246,000.00 3.100% 0.0004294 30,504.00 276,504.00 1,461 Page 8 4/12/201 9 May 21, 2019 Item #1 Page 22 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MARCH 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN I.Qfil'.fil 1/29/2018 1/30/2023 CD SUNTRUST BANK 2.30% CALL 1/30/20 STEP 246,000.00 245,508.00 2.792% 0.0003860 34,547.50 280,055.50 1,827 4/24/2018 4/24/2023 CD CITIBANK 3.0% NON-CALL 246,000.00 246,000.00 3.000% 0.0004156 36,900.00 282,900.00 1,826 5/16/2018 5/16/2023 CD BELMONT SAVINGS BANK 3.05% 245,000.00 245,000.00 3.050% 0.0004208 37,362.50 282,362.50 1,826 6/20/2018 6/20/2023 CD RBC BANK 3.15% NON-CALL 249,000.00 249,000.00 3.150% 0.0004417 39,217.50 288,217.50 1,826 7/31/2018 7/31/2023 CD BANK OF NEW ENGLAND 3.25% NON-CALL 249,000.00 249,000.00 3.250% 0.0004557 40,462.50 289,462.50 1,826 7/31/2018 7/31/2023 CD MEDALLION BANK UTAH 3.25% NON-CALL 249,000.00 249,000.00 3.150% 0.0004417 40,462.50 289,462.50 1,826 9/26/2018 9/26/2023 CD BANK MIDWEST 3.15% NON-CALL 245,000.00 245,000.00 3.150% 0.0004346 38,587.50 283,587.50 1,826 9/28/2018 9/28/2023 CD BANK OF BARODA 3.3% NON-CALL 245,000.00 245,000.00 3.300% 0.0004553 40,425.00 285,425.00 1,826 10/26/2018 10/26/2023 CD BMO HARRIS BANK 3.35% CALL 04/26/19 249,000.00 249,000.00 3.350% 0.0004697 41,707.50 290,707.50 1,826 11/15/2018 10/30/2023 CD NATIONAL COOPERATIVE BANK 3.45% NON-CALL 245,000.00 245,000.00 3.450% 0.0004760 41,891.98 286,891.98 1,810 11/14/2018 11/14/2023 CD BANK HAPOALIM BM 3.5% NON-CALL 245,000.00 245,000.00 3.500% 0.0004829 42,875.00 287,875.00 1,826 11/15/2018 11/15/2023 CD MORGAN STANLEY PVT BANK 3.55% NON-CALL 245,000.00 245,000.00 3.550% 0.0004898 43,487.50 288,487.50 1,826 11/19/2018 11/29/2023 CD STATE BANK OF !NOIA 3.6% BULLET 245,000.00 245,000.00 3.600% 0.0004967 44,100.00 289,100.00 1,836 2/26/2019 2/15/2024 CD JP MORGAN CHASE 3.15% CALL 2/15/20 245,000.00 245,000.00 3.150% 0.0004346 38,587.50 283,587.50 1,815 2/13/2019 8/14/2023 CD FIRST MISSOURI STATE BANK 2.85% BULLET 246,000.00 246,000.00 2.850% 0.0003948 31,549.50 277,549.50 1,643 SUB-TOTAL CD 17,762,000.00 17,758,316.70 2.193% 1,883,341.13 19,641,657.83 1,694 0 WELLS FARGO BANK-General Fund 460,020.00 460,020.00 2.000% 0.0000912 25.21 460,045.21 0 CORPORATE CASH MANAGEMENT ACCOUNT 4,320,016.81 4,320,016.81 2.000% 0.0008562 236.71 4,320,253.52 0 WELLS FARGO CUSTODY 200,463.81 200,463.81 1.590% 0.0000316 8.85 200,472.66 0 LA IF WATER DISTRICT 23,055,830.16 23,055,830.16 2.392% 0.0054652 1,531.93 23,057,362.09 0 LA I F PUBLIC IMPROVEMENT CORPORATION 19,536,403.21 19,536,403.21 2.392% 0.0046309 1,298.09 19,537,701.30 0 LA IF PUBLIC FINANCING CORPORATION 23,918,339.68 23,918,339.68 2.392% 0.0056696 1,589.24 23,919,928.92 0 LA I F CITY OF CARLSBAD 29,419,819.77 29,419,819.77 2.392% 0.0069737 1,954.78 29,421,774.55 SUB-TOTAL 100,910,893.44 100,910,893.44 2.372% 6,644.82 100,917,538.26 GRAND TOTAL 778,744,893.44 778,138,790.23 2.023% 53,905,073.75 817,799,308.34 Page 9 4/12/2019 May 21, 2019 Item #1 Page 23 of 26 CITY OF CARLSBAD Fund Equity in Pooled Investments As of March 31, 2019 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 Enterprise: Carlsbad Municipal Water District Sewer Fund Solid Waste Storm Water Golf Course Internal Service Trust and Agency Total General Ledger Balance** Reconciling Adjustments (1) Total Total Total Treasurer's Investment Portfolio at Amortized Cost 43,325,488 23,361,078 28,250,261 11,854,956 7,019,706 5,851,534 103,683,796 118,932,141 14,656,851 141,322,619 49,446,948 6,923,062 7,550,217 1,303,124 EXHIBIT 8 124,676,634 34,483,899 356,935,811 206,545,971 48,479,997 15,986,465 787,108,777 (8,968,985) 778,139,792 (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. The March 2019 reconciling amount includes $5,000,000 in maturities that were scheduled on the last weekend of the month. The funds were received in April, however, the investment listing no longer included these balances. ** Figures based on best estimate at the time report run on 3/11/2019. May 21, 2019 Item #1 Page 24 of 26 CITY OF CARLSBAD INVESTMENT PORTFOLIO Corporate Note and Commerical Paper Ratings · As of March 31, 2019 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 Outlook 3m Company A1 AA-Stable ALPHABET, INC Aa2 AA+ Stable APPLE INC Aa1 AA+ Stable AUTOMATIC DATA PROCESSIN Aa3 AA Stable BERKSHIRE HATHWAY Aa2 AA AA-Stable BLACKROCK INC Aa3 AA-Stable Chevron Corp Aa2 AA Positive/Stable COCA COLA COMPANY A1 A+ A Stable COLGATE-PALMOLIVE Aa3 AA-Stable EXXON MOBIL Aaa AA+ Stable/Negative IBM CORP A1 A A Negative JOHNSON & JOHNSON Aaa AAA AAA Stable MASS MUTUAL GLOB Aa2 AA+ Negative/Stable MICROSOFT Aaa AAA AA+ Negative/Stable NEW YORK LIFE Aaa AA+ AAA Negative/Stable NOVARTIS CAPTIAL CORP A1 AA-AA-Negative/Stable PROCTER & GAMBLE Aa3 AA-Negative/Stable TOYOTA Aa3 AA-A+ Negative/Stable US BANK NA A1 AA-AA-Negative/Stable WAL-MART Aa2 AA AA Stable/Negative/Stable WELLS FARGO BANK NA Aa2 A+ AA-Negative/Stable/Stable Commercial Paper Investments Meeting the Current Investment Policy: (Ratings must be A1/P1 or better by both Moody's and S&P) (Ratings of other debt must be AA or better by two of the three: Moody's, S&P or Fitch) Investments with Subsequent Changes in Credit Rating* Latest Moody's S&P Fitch Maturity Date COCA COLA A1 A+ A 09/01/2021 IBM CORP A1 A A 11/21/2021 3M COMPANY A1 AA-NR 08/07/2020 Purchased 01/10/2018 11/07/2016 11/03/2015 Outlook Stable Negative Stable * 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. EXHIBITS Carrying Market Value Value 5,123,846 5,043,171 4,678,722 4,636,141 3,515,373 3,482,045 May 21, 2019 Item #1 Page 25 of 26 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of March 31 , 2019 EXHIBIT 10 Corporate and Federal Agency Issuers -Percent of Total Portfolio Corporate Notes -Percent of Total Portfolio ADP ALPHABET, INC APPLE INC BERKSHIRE HATHAWAY BLACKROCK INC CHEVRON COCA COLA CO COLGATE-PALMOLIVE EXXON MOBIL IBM CORP JOHNSON & JOHNSON MASS MUTUAL MICROSOFT 3M COMPANY NEW YORK LIFE NOVARTIS CAPTIAL CORP PROCTER & GAMBLE TOYOTA US BANK WALMART WELLS FARGO BANK Federal Agencies -Percent of Total Portfolio 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 Investment Cost 4,029,600 5,364,100 16,264,675 8,312,201 1,011 ,600 14,307,799 5,131,236 10,632,541 10,138,030 4,725,31 6 6,151 ,316 3,286,335 17,196,798 3,554,215 4,017,520 1,489,500 5,607,889 19,340,235 6,585,975 10,379,828 11 ,006,200 Investment Cost 19,990,353 8,733,759 87,370,931 93,710,152 105,703,482 60,152,005 5,716,571 2,750,760 7,496,748 17,469,526 81 ,842,387 • No more than 5% may be invested with a single corporate issuer. **There are no percentage limits on federal agency issuers. Percent of Portfolio* 0.52% 0.69% 2.09% 1.07% 0.13% 1.84% 0.66% 1.37% 1.30% 0.61% 0.79% 0.42% 2.21% 0.46% 0.52% 0.19% 0.72% 2.49% 0.85% 1.33% 1.41% Percent of Portfolio** 2.57% 1.12% 11.23% 12.04% 13.58% 7.73% 0.73% 0.35% 0.96% 2.25% 10.52% 778,138,790.23 May 21, 2019 Item #1 Page 26 of 26