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HomeMy WebLinkAbout2019-06-25; City Council; ; Report on City Investments as of April 30, 2019CITY COUNCIL @ Staff Report Meeting Date To: From: Staff Contact: June 25, 2019 Mayor and Council Members Scott Chadwick, City Manager Craig Lindholm, City Treasurer CAReview vJ<'.- Laura Rocha, Deputy City Manager -Administrative Services, Laura.Rocha@carlsbadca.gov or 760-602-2415 Subject: Report on City Investments as of April 30, 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 April 30, 2019 is summarized below. I Pooled Investment Portfolio {Cash and Securities) Current Month , Prior Month Par Value $801,882,706 $778,744,893 Cost of Investments $801,342,510 $778,138,790 Amortized Cost (1) $800,393,295 $777,861,524 Market Value (2) $799,089,976 $772,743,120 (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 April 30, 2019. 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 June 25, 2019 Item #1 Page 1 of 27 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. June 25, 2019 Item #1 Page 3 of 27 Exhibits 1. Investment Portfolio Breakdown by Amortized Cost, Market Value, Cash Income, and Average Yield 2. Investment Portfolio Breakdown of Maturities 3. Yield Comparison Graph 4. Market Yield Curve 5. Cumulative Cash Income Graph 6. Fourth Quarter 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 11. Investments of Bond Proceeds Held Separately as of March 31, 2019 12. Summary of Outstanding Housing Loans June 25, 2019 Item #1 Page 4 of 27 AS OF APRIL 30, 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 Prior Month CD $17,758,317 $17,758,317 $17,731,888 $17,648,314 $285,473 2.19 2.19 FN 12,603,579 16,375,579 13,283,237 17,203,127 124,072 1.66 1.60 TR 82,528,889 81,842,387 81,809,541 80,652,046 1,502,462 1.73 1.72 FA 383,971,921 375,249,181 382,208,376 371,800,407 5,617,914 1.76 1.88 SN 17,469,526 17,469,526 17,483,451 17,378,123 197,136 2.12 2.12 CN 165,246,573 168,533,908 164,809,778 167,150,211 2,754,441 2.29 2.29 LAIF 115,771,892 95,930,393 115,771,892 95,930,393 2,116,111 2.44 2.39 CUSTODY 871,627 200,464 871,627 200,464 4,458 0.95 1.59 SWEEP 4,877,539 4,320,017 4,877,539 4,320,017 66,137 2.00 2.00 BANK ACCT 242,647 460,020 242,647 460,020 0 2.00 2.00 TOTALS $801,342,510 $778,139,792 $799,089,976 $772,743,122 $12,668,204 1.99% 2.02% 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 -0:, -~ i--,a. June 25, 2019 Item #1 Page 5 of 27 CLASS CD FN TR FA SN CN LAIF CUSTODY SWEEP BANK ACCT TOTALS % TOTALS CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF APRIL 30, 2019 BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME (MARKET VALUE) WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR 1 TO 5 YEARS TOTAL 2,716,007 3,455,912 11,559,969 $17,731,888 10,386,617 0 2,896,620 13,283,237 7,049,524 5,845,495 68,914,522 81,809,541 40,882,533 51,576,998 289,748,845 382,208,376 0 0 17,483,451 17,483,451 9,645,653 24,754,006 130,410,119 164,809,778 115,771,892 0 0 115,771,892 871,627 0 0 871,627 4,877,539 0 0 4,877,539 242,647 0 0 242,647 $192,444,039 (1) $85,632,410 (1) $521,013,525 $799,089,975 24.1% 10.7% 65.2% 100.0% % TOTAL 2.2% 1.7% 10.2% 47.8% 2.2% 20.6% (2) 14.5% 0.1% 0.6% 0.0% 100.0% Total within One Year $278,076,449 (1) POLICY: 34.8% (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 :::c 0:, :::::j N June 25, 2019 Item #1 Page 6 of 27 Market Rates MARKET YIELD CURVE 6/30/17, 6/30/18,4/30/19 3.50 3.00 2.50 L • __ ---- - --• ----.,,,,., --- 2 00 ----___ .. ____ .. . j...------------------------=-- 1.50 1.00 0.50 0.00 I 3 Mth 2 Yr 5 Yr 10 Yr 3 Mth 2 Yr 5 Yr 10 Yr ---6/30/2017 I 1.01 1.38 1.88 2.30 _._ 6/30/2018 1.91 2.53 2.74 2.86 -.. ·4/30/2019 2.37 2.29 2.29 2.51 m >< I -OJ ---i +:::- June 25, 2019 Item #1 Page 8 of 27 City of Carlsbad Maturing Investments Including Calls/Puts Sorted by Maturity Date April 1, 2019 -June 30, 2019 Maturity/Ca Security Dealer's Phone Call Maturity/Ca Stated Date CUSIP Investment# Fund Type Issuer Dealer Number Price Par Value Rate Comments 04/01/2019 3133XTFG6 11607 100 FAC Federal Home Loan Bank RAYMON 1,500,000.00 4.250 BULLET 04/04/2019 3130ACH72 12026 100 FAC Federal Home Loan Bank RBC 100.000 0.00 2.260 CALL QUARTERLY 04/05/2019 31771EAR2 11433 100 AFD Financing Corporation RBC 4,000,000.00 1.337 04/05/2019 45905U7 J7 11849 100 MC3 INTL BANK RECON & DEVELOP PIPER 100.000 1,500,000.00 1.625 CALL 4/5/19 ONE TIME STEP PAID 04/09/2019 57629WBU3 11517 100 MTN MASS MUTUAL GLOB UBOC 3,250,000.00 2.350 04/10/2019 31315PR43 11715 100 FAC FARMER MAC MULTI 500,000.00 1.860 04/16/2019 3134GBS86 12036 100 FAC Federal Home Loan Mortgage Cor UBOC 100.000 0.00 1.850 CALL QUARTERLY 7/16/19 04/16/2019 3136G0AW1 11763 100 FAC Federal National Mortgage Asso STIEF 100.000 1,300,000.00 2.350 CALL 10/16/17 SEMIANNUAL 04/18/2019 3134GBWC2 11893 100 FAC Federal Home Loan Mortgage Cor RBC 100.000 1,000,000.00 2.000 CALL 7/18/18 QRTLY AND STEP 04/19/2019 3134G9N52 11982 100 FAC Federal Home Loan Mortgage Cor RBC 100.000 . 2,000,000.00 1.500 QTL Y CALL 1/19/19 04/25/2019 3133EJMC0 11897 100 FAC Federal Farm Credit Bank RAYMON 100.000 2,500,000.00 3.000 CALL 4/25/19 CONT 04/26/2019 3130ABB21 11812 100 FAC Federal Home Loan Bank STIEF 100.000 1,800,000.00 1.375 ONE CALL 4/26/19 04/26/2019 3134GBP71 11816 100 FAC Federal Home Loan Mortgage Cor FIRST 100.000 3,250,000.00 2.050 QRTL Y CALL STEP 04/27/2019 3135G0T37 11888 100 FAC Federal National Mortgage Asso RBC 100.000 1,750,000.00 1. 900 call 7 /27 /18 cont 04/27/2019 3130A8N41 11889 100 FAC Federal Home Loan Bank PIPER 100.000 1,400,000.00 1.250 CALL 7/27/18 QRTLY STEP 04/27/2019 3134GBYZ9 11811 100 FAC Federal Home Loan Mortgage Cor RBC 100.000 3,000,000.00 2.000 ONE CALL 7/27/18 04/27/2019 3134GBDT6 11760 100 FAC Federal Home Loan Mortgage Cor PIPER 100.000 1,180,000.00 2.000 10/27/17 QRTLY CALL STEP 04/27/2019 3134GSJC0 11892 100 FAC Federal Home Loan Mortgage Cor VINING 100.000 2,000,000.00 3.050 CALL 7/27/18 QRTL Y 04/27/2019 3134GSJC0 11894 100 FAC Federal Home Loan Mortgage Cor PIPER 100.000 2,415,000.00 3.050 CALL 7/27/18 QRTL Y 04/28/2019 3134G8Y29 11622 100 FAC Federal Home Loan Mortgage Cor MULTI 100.000 2,500,000.00 1.250 CALL 10/28/16 QRTLY STEP 04/28/2019 3136G3F75 11703 100 FAC Federal National Mortgage Asso PIPER 100.000 2,600,000.00 1.000 CALL 1/28/17 QRTLY CALLANNUAL 04/29/2019 3130AF4E4 11943 100 FAC Federal Home Loan Bank STIEF 100.000 1,250,000.00 3.150 CALL 4/29/19 QTR 04/30/2019 912828ST8 11716 100 TRC United Staies Treasury MULTI 800,000.00 1.250 04/30/2019 3134GSCD5 11874 100 FAC Federal Home Loan Mortgage Cor FIRST 100.000 2,000,000.00 2.550 CALL 1/30/19 QTL Y April 2019 Subtotal 43,495,000.00 05/06/2019 037833AQ3 11553 100 MTN APPLE INC UBOC 2,500,000.00 2.100 MAKE WHOLE CALL 05/07/2019 3134G43G1 11364 100 FAC Federal Home Loan Mortgage Cor MULTI 1,000,000.00 1.200 ONE CALL 5/7/15 05/11/2019 3134GBKM3 11898 100 FAC Federal Home Loan Mortgage Cor RBC 100.000 2,000,000.00 2.000 CALL 5/11/18 QRTL Y STEP 05/14/2019 3130ADMS8 11907 100 FAC Federal Home Loan Bank PIPER 100.000 1,500,000.00 2.150 CALL 2/14/19 QRTL Y 05/15/2019 459200HE4 11499 100 MTN IBM CORP UBOC 2,150,000.00 1.875 MAKE WHOLE CALL 05/15/2019 3130ACN83 11818 100 FAC Federal Home Loan Bank RAYMON 100.000 1,650,000.00 1.700 one call 5/15/19 05/16/2019 3134GBU75 11961 100 FAC Federal Home Loan Mortgage Cor UBOC 100.000 1,000,000.00 2.000 CALL 2/16/19 QRTL Y 05/16/2019 3130AAQB7 11738 100 FAC Federal Home Loan Bank PIPER 100.000 1,325,000.00 2.000 ONE CALL 2/16/18 '05/16/2019 3134GSCJ2 11881 100 FAC Federal Home Loan Mortgage Cor FIRST 100.000 2,500,000.00 2.625 CALL 8/16/18 QURTLY ' -I m Portfolio CARJ >< AR :::c -Run Date: 05/16/2019 -09:57 Ml (PRF _Ml) 7.1.j llJ Report Ver. 7.3.6. j =i en June 25, 2019 Item #1 Page 10 of 27 City of Carlsbad Maturing Investments Sorted by Maturity Date Maturity/Ca Security Date CUSIP Investment # Fund Type. Issuer Dealer 05/24/2019 94988J5D5 11856 100 MTN WELLS FARGO BANK NA PIPER 05/26/2019 3134G8L31 11614 100 FAG Federal Home Loan Mortgage Cor MULTI 05/28/2019 3134GAXC3 11718 100 FAG Federal Home Loan Mortgage Cor PIPER 05/28/2019 3130AC6J8 12009 100 FAG Federal Home Loan Bank PIPER 05/28/2019 313DACX66 11825 100 FAG Federal Home Loan Bank RAYMON 05/28/2019 3134GSDX0 11876 100 FAG Federal Home Loan Mortgage Cor RBC 05/29/2019 3134GBNK4 11774 100 FAG Federal Home Loan Mortgage Cor UBOC 05/29/2019 3134GBNK4 11791 100 FAG Federal Home Loan Mortgage Cor VINING 05/30/2019 3137EADG1 11502 100 FAG Federal Home Loan Mortgage Cor STIEF 05/30/2019 31 37EADG1 11520 100 FAG Federal Home Loan Mortgage Cor UBOC 05/31/2019 912828WL0 11535 100 TRC United States Treasury STIEF 05/31/2019 912828WLO 11744 100 TRC United States Treasury STIEF 06/08/2019 3134GBQW5 11780 100 FAG Federal Home Loan Mortgage Cor PIPER 06/08/2019 3134GB.RM6 12010 100 FAG Federal Home Loan Mortgage Cor STIEF 06/14/2019 3132XDBF7 11521 100 FAG FARMER MAC PIPER 06/14/2019 3132XDBF7 11618 100 FAG FARMER MAC PIPER 06/14/2019 3134GBC83 11875 100 FAG Federal Home Loan Mortgage Cor UBOC 06/18/2019 3134GSF26 11964 100 FAG Federal Home Loan Mortgage. Cor FIRST 06/18/2019 3133EKDL7 12012 100-FAG Federal Farm Credit Bank FIRST 06/22/2019 3130A7ES0 11621 100 FAG Federal Home Loan Bank MULTI 06/22/2019 3134GBTE2 11782 100 FAG Federal Home Loan Mortgage Cor PIPER 06/24/2019 3133EEZ60 11512 100 FAG Federal Farm Credit Bank RBC 06/24/2019 3133EEZ60 11516 100 FAG Federal Farm Credit Bank RBC 06/26/2019 313DACF66 11977 100 FAG Federal Home Loan Bank STIEF 06/27/2019 3136G3TQ8 11772 100 FAG Federal National Mortgage Asso FIRST 06/27/2019 3133EJSY6 11916 100 FAG Federal Farm Credit Bank STIEF 06/28/2019 3136G3TD7 11658 100 · FAG Federal National Mortgage Asso FIRST 06/28/2019 3134GSQB4 11923 100 FAG Federal Home Loan Mortgage Cor PIPER 06/29/2019 3134GBCW0 11754 100 FAG Federal Home Loan Mortgage Cor STIEF 06/29/2019 3134GBSC7 11841 100 FAG Federal Home Loan Mortgage Cor RAYMON 06/29/2019 3134GB6U1 11832 100 FAG Federal Home Loan Mortgage Cor PIPER Run Date: 05/16/2019 -09:57 Dealer's Phone Call Maturity/Ca Number Price Par Value 3,000,000.00 100.000 1,000,000.00 100.000 2,000,000.00 100.000 2,000,000.00 100.000 2,500,000,00 100.000 1,250,000.00 100.000 2,250,000.00 100.000 1,600,000.00 1,650,000.00 1,000,000.00 1,500,000.00 800,000.00 May 2019 Subtotal 36,175,000.00 100.000 2,550,000.00, 100.000 1,800,000.00 1,060,000.00 3,000,000.00 100.000 1,000,000.00 100.000 1,500,000.00 100.000 2,000,000.00 100.000 2,500,000.00 100.000 875,000.00 2,000,000.00 2,250,000.00 100.000 1,000,000.00 100.000 2,500,000.00 1 OD.ODO 1,000,000.00 2,500,000.00 100.000 2,000,000.00 100.000 1,150,000.00 100.000 1,500,000.00 100.000 2,000,000.00 June 2019 Subtotal 34,185,000.00 Total 113,855,000.00 Page 2 Stated Rate Comments 1.750 1.250 CALL 8/26/16 QRTL Y STEP 1 .250 call 2/28/17 qrtly 2.000 CALL QUARTERLY 5/28/19 2.300 CALL 11/28/18 QRTL Y 2.500 CALL 8/28/18 QRTLY STEP 1.625 CALL 5/29/19 ONE TIME 1.625 ONE CALL 5/29/19 1.750 BULLET 1.750 1.500 1.500 1.250 CALL 12/08/17 QRTL Y STEP 2.100 CALL QUARTERLY 6/8/19 1.500 1.500 2.070 CALL 6/14/18 QRTLY 3.500 CALL 6/18/19 QRTLY 2.940 CONTINUOUS CALL 6/8/19 2.000 6/22/16 QRTL Y CALL STEP 2.000 CALL 12/22/17 QRTL Y STEP 1.520 BULLET 1.520 2.150 QTL Y CALL 3/26/19 1.200 CALL6/27/17 QUARTERLY 3.200 CALL 6/27 /19 CO NT 1.200 CALL 12/28/16 QRTLY 3.250 CALL 6/28/19 QRTL Y 2.350 CALL 3/29/18 QRTLY 2.150 CALL 12/29/17 QRTLY 2.500 CALL 3/29/18 QRTL Y Portfolio CARL AP Ml (PRF _Ml)?.1.1 Report Ver. 7.3.6.1 June 25, 2019 Item #1 Page 11 of 27 City of Carlsbad . Purchases Report Sorted by Fund -Fund April 1, 2019 -April 30, 2019 Sec. Original Purchase Principal CUSIP Investment# Fund Type Issuer Par Value Date Payment Purchase General Fund 3130ACH72 12026 100 FAC FHLB 1,000,000.00 04/10/2019 10/04 -04/04 995,340.00 3134GTAC7 12024 100 FAC FHLMC 2,000,000.00 04/11/2019 09/27 -03/27 2,004,000.00 3133EKGD2 12025 100 FAC FFCB 2,000,000.00 04/12/2019 10/05 -04/05 1,994,380.00 3133EKFK7 12027 100 FAC FFCB 2,000,000.00 04/12/2019 07/05 -01 /05 1,999,600.00 3130AGAA3 12022 100 FAC FHLB 2,000,000.00 04/15/2019 10/15 -04/15 2,000,000.00 3134GTGZ0 12029 100 FAC FHLMC 1,000,000.00 04/15/2019 10/15 -04/15 1,000,000.00 3134GTGZ0 12030 100 FAC FHLMC 2,000,000.00 04/15/2019 10/15 -04/15 2,000,000.00 3135G0U43 12032 100 FAC FNMA 1,750,000.00 04/18/2019 09/12-03/12 1,783,757.50 3134GTEW9 12033 100 FAC FHLMC 1,500,000.00 04/23/2019 10/08 -04/08 1,500,000.00 912828W55 12034 100 TRC USTR 1,500,000.00 04/23/2019 08/31 -02/29 1,481,015.63 3134GTHH9 12028 100 FAC FHLMC 2,000,000.00 04/24/2019 07/24 -01/24 2,000,000.00 3134GTGT4 12031 100 FAC FHLMC 1,750,000.00 04/24/2019 07/24 -01 /24 1,750,000.00 Subtotal 20,500,000.00 20,508,093.13 Total Purchases 20,500,000.00 20,508,093.13 Run Date: 05/16/2019-11:20 Accrued Rate at at Purchase Purchas 376.67 2.260 2,201.11 2.830 894.44 . 2.300 1,011.11 2.600 2.450 2.500 2.500 5,031 .25 2.875 1,562.50 2.500 4,127.04 1.875 2.500 2.550 15,204.12 15,204.12 Maturity Date YTM 10/04/2022 2.400 03/27/2023 2.776 04/05/2024 2.360 07/05/2022 2.607 04/15/2024 2.742 04/15/2024 2.791 04/15/2024 2.791 09/12/2023 2.410 04/08/2022 2.500 02/28/2022 2.336 01 /24/2022 2.501 01 /24/2023 2.551 Ending Book Value 995,418.04 2,003,943.90 1,994,439.55 1,999,606.53 2,000,000.00 1,000,000.00 2,000,000.00 1,783,480.45 1,500,000.00 1,481,161 .38 2,000,000.00 1,750,000.00 20,508,049.85 20,508,049.85 Portfolio CARL AP PU (PRF _PU) 7.1.1 Report Ver. 7.3.6.1 June 25, 2019 Item #1 Page 12 of 27 Issuer Purchase Redem. Date CUSIP Investment# Fund Sec. Type Date Matur. Date 05/11/2020 3134GBKM3 11898 100 FHLMC 05/04/201 05/11/201 FAC 05/11/202 Subtotal 04/26/2021 3130AE4H0 11887 100 FHLB 04/26/201 05/22/201 FAC 04/26/202 Subtotal 10/29/2021 3130AF4E4 11943 100 FHLB 11/07/201 04/29/201 FAC 10/29/202 Subtotal 04/25/2023 3133EJMC0 11897 100 FFCB 05/04/201 04/25/201 FAC 04/25/202 Subtotal 04/27/2023 3134GSJC0 11892 100 FHLMC 04/27/201 04/27/201 FAC 04/27/202 3134GSJC0 11894 100 FHLMC 05/04/201 04/27/201 FAC 04/27/202 Subtotal Total Sales V -Security with variable rate change. Run Date: 05/16/2019 -10:00 City of Carlsbad Sales/Call Report Sorted by Maturity Date -Fund April 1, 2019 -June 30, 2019 Par Rate at Book Value Value Redem. at Redem. 2,000,000.00 2.000 \, 1,994,552.96 2,000,000.00 1,994,552.96 2,000,000.00 2.680 2,000,000.00 2,000,000.00 2,000,000.00 1,250,000.00 3.150 1,248,425.84 1,250,000.00 1,248,425.84 2,500,000.00 3.000 2,497,361 .81 2,500,000.00 2,497,361.81 2,000,000.00 3.050 2,000,000.00 2,415,000.00 3.050 2,413,060.46 4,415,000.00 4,413,060.46 12,165,000.00 12,153,401 .07 Redemption Redemption Principal Interest 2,000,000.00 0.00 2,000,000.00 0.00 2,000,000.00 3,871.11 2,000,000.00 3,871.11 1,250,000.00 19,687.50 1,250,000.00 19,687.50 2,500,000.00 37,500.00 2,500,000.00 37,500.00 2,000,000.00 30,500.00 2,415,000.00 36,828.75 4,415,000.00 67,328.75 12,165,000.00 128,387.36 Total Amount 2,000,000.00 Call 2,000,000.00 2,003,871.11 Call 2,003,871.11 1,269,687.50 Call 1,269,687.50 2,537,500.00 Call 2,537,500.00 2,030,500.00 Call 2,451 ,828.75 Call 4,482,328.75 12,293,387.36 Net Income 5,447.04 5,447.04 3,871 .11 3,871 .11 21,261 .66 21,261.66 40,138.19 40,138.19 30,500.00 38,768.29 69,268.29 139,986.29 Portfolio CARL AP SA (PRF _SA) 7.1.1 Report Ver. 7.3.6.1 June 25, 2019 Item #1 Page 13 of 27 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF APRIL 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days\ 6/6/2014 5/7/2019 FA FHLMC 1.2% CALL 5/7/15 1,000,000.00 , 976,800.00 1.693% 0.0000431 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% 0.0000623 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% 0.0000357 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% 0.0000414 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% 0.0000913 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% 0.0000777 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% 0.0000882 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% 0.0000781 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% 0.0001232 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% 0.0000629 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% 0.0000697 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% 0.0000848 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% 0.0000845 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% 0.0000625 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% 0.0000648 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% 0.0000714 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% 0.0000374 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% 0.0000986 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% 0.0001356 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% 0.0001354 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% 0.0001535 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% 0.0000399 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% 0.0000954 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% 0.0001160 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% 0.0000477 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% 0.0001290 46,913.33 2,028,333.33 344 7/28/2016 1/28/2020 FA FNMA 1.20% CALL 7/28/17 ONE TI ME 4,850,000.00 4,850,000.00 1.200% 0.0001516 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% 0.0000931 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% 0.0000965 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% 0.0000684 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% 0.0000365 56,000.00 1,056,000.00 1,461 1/4/2017 2/28/2020 FA FHLMC 1.25% QRTL Y CALL 2,000,000.00 1,978,000.00 1.610% 0.0000829 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% 0.0001096 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% 0.0001102 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% 0.0000817 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% 0.0000810 54,908.75 1,299,531 .25 643 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% 0.0000874 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% 0.0001628 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% 0.0000427 53,772.22 1,045,772.22 1,193 12/15/2017 4/17/2020 FA FAMCA 1.64% NON-CALL 1,500,000.00 1,487,706.00 2.000% 0.0000775 69,830.67 1,557,536.67 854 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% 0.0001221 175,781 .25 3,925,781.25 1,370 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% 0.0001336 104,083.33 2,093,083.33 738 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% 0.0000731 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% 0.0000508 58,500.00 1,258,500.00 1,096 m . 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% 0.0000909 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% 0.0000642 71,977.78 1,675,977.78 1,067 :I: 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% 0.0000542 62,400.00 1,362,400.00 1,096' CD 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% 0.0001042 120,000.00 2,620,000.00 1,093 6/8/2017 6/8/2020 FA FHLMC 1.25% CALL 12/8/17 QRTL Y STEP 2,550,000.00 2,549,490.00 2.021% 0.0001342 155,103.75 2,704,593.75 1,096 -f Page 1 5/15/2019 ...... June 25, 2019 Item #1 Page 14 of 27 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF APRIL 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days\ 6/12/2015 6/12/2020 FA FHLB 1.75% NON-CALL 3,000,000.00 3,000,000.00 1.750% 0.0001367 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% 0.0000675 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% 0.0000697 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% 0.0001317 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% 0.0001261 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% 0.0000708 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% 0.0000915 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% 0.0001042 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% 0.0000326 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% 0.0001014 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% 0.0000586 87,893.57 1,896,868.75 1,430 4/13/2018 9/15/2020 FA FFCB 2.47% CALL 6/15/1 8 CONT 1,750,000.00 1,748,757.50 2.500% 0.0001139 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% 0.0000662 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% 0.0000561 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% 0.0001158 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% 0.0001006 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% 0.0000732 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% 0.0000473 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% 0.0000902 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% 0.0000807 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% 0.0000847 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% 0.0001370 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% 0.0001276 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% 0.0000815 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% 0.0001183 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% 0.0000912 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% 0.0000726 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% 0.0001020 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% 0.0000711 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% 0.0000547 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% 0.0000211 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% 0.0000921 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% 0.0000669 71 ,365.00 1,048,125.00 1,004 3/22/2016 3/22/2021 FA FHLB 1.25% QRTL Y CALL 6/22/16 STEP 2,500,000.00 2,498,750.00 1.870% 0.0001217 235,625.00 2,734,375.00 1,826 3/26/2019 3/26/2021 FA FHLMC 2.5% CALL 3/26/20 2,000,000.00 2,000,000.00 2.500% 0.0001302 100,000.00 2,100,000.00 731 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% 0.0001183 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% 0.0000999 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% 0.0000959 128,868.75 2,102,881.25 1,278 4/26/2018 4/26/2021 FA FHLB 2.68°io CALL 4/26/19 CONT 2,000,000.00 2,000,000.00 2.680% 0.0001396 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% 0.0001380 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% 0.0001742 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% 0.0001220 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% 0.0000556 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% 0.0000830 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% 0.0000656 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% 0.0000857 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% 0.0001429 139,666.67 2,115,666.67 920 2/16/2017 7/26/2021 FA FHLMC 1.875% NON-CALL 1,400,000.00 1,392,580.00 2.000% 0.0000725 124,086.67 1,516,666.67 1,621 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% 0.0000970 141 ,348.67 1,499,866.67 1,190 Page 2 5/15/2019 June 25, 2019 Item #1 Page 15 of 27 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF APRIL 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (VIEL□: AVG YIELD INTEREST RETURN (Days) 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% 0.0001533 224,666.67 3,229,166.67 1,394 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% 0.0001406 256,027.78 2,852,127.78 1,714 12/19/2017 8/12/2021 FA FHLMC 1.125% NON-CALL 1,000,000.00 967,646.98 2.050% 0.0000517 73,384.27 1,041,031.25 1,332 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% 0.0000690 119,250.00 1,444,250.00 1,642 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% 0.0001360 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% 0.0000996 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% 0.0001498 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% 0.0000941 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% 0.0001162 172,294.22 2,124,222.22 1,395 12/14/2018 11/26/2021 FA FHLMC 3.16% CALL 11/26/19 2,000,000.00 2,005,000.00 3.160% 0.0001650 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% 0.0001375 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% 0.0000957 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% 0.0001789 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% 0.0000839 107,696.18 1,363,633.68 1,088 4/11/2019 1/24/2022 FA FHLMC 2.5% CALL ONE TIME 1/24/20 2,000,000.00 2,000,000.00 2.501% 0.0001303 137,500.00 2,137,500.00 1,019 3/25/2019 2/3/2022 FA FFCB 2.03% NON-CALL 2,500,000.00 2,483,900.00 2.264% · 0.0001464 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% 0.0001280 194,785.50 1,994,785.50 1,448 2/23/2017 2/23/2022 FA FAMCA 2.1 % NON-CALL 2,600,000.00 2,609,204.00 2.025% 0.0001376 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% 0.0001026 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% 0.0001328 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% 0.0000928 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% 0.0000885 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% 0.0000704 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% 0.0000778 145,252.32 1,745,833.33 1,776 4/23/2019 4/8/2022 FA FHLMC 2.5% CALL 4/8/20 1,500,000.00 1,501,562.50 2.500% 0.0000978 109,375.00 1,610,937.50 1,081 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% 0.0001142 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% 0.0001051 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% 0.0002166 413,455.00 3,959,375.00 1,826 4/27/2017 4/27/2022 FA FHLMC 1.75% QRTL Y CALL STEP 1,180,000.00 1,180,000.00 2.625% 0.0000807 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% 0.0001165 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% 0.0000655 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% 0.0000689 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% 0.0000496 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% 0.0000822 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% 0.0001400 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% 0.0000873 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% 0.0000867 149,202.50 1,649,202.50 1,635 4/11/2019 7/5/2022 FA FFCB 2.6% CONTINUOUS CALL 7/5/19 2,000,000.00 1,999,600.00 2.607% 0.0001358 168,388.89 2,167,988.89 1,181 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% 0.0000741 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% 0.0000784 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% 0.0001369 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% 0.0000965 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% 0.0000699 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% 0.0000697 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% 0.0001302 249,861 .11 2,749,861 .11 1,826 4/9/2019 10/4/2022 FA FHLB 2.26% CALL QUARTERLY 1,000,000.00 995,340.00 2.400% 0.0000622 83,383.33 1,078,723.33 1,274 3/9/2018 10/5/2022 FA FNMA 2.0% NON-CALL 1,000,000.00 971,120.00 2.000% 0.0000506 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% 0.0000752 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% 0.0000906 148,492.19 1,348,242.19 1,531 Page 3 5/15/2019 June 25, 2019 Item #1 Page 16 of 27 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF APRIL 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE !YIELD; AVG YIELD INTEREST RETURN (Days) 10/26/2017 10/26/2022 FA FHLMC 2.05% CALL 1/26/18 3,250,000.00 3,250,000.00 2.342% 0.0001982 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% 0.0001498 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% 0.0001442 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% 0.0001797 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% 0.0001302 250,000.00 2,250,000.00 1,826 4/16/2019 1/24/2023 FA FHLMC 2.55% CALL ONE TIME 1/24/20 1,750,000.00 1,750,000.00 2.551% 0.0001162 167,343.75 1,917,343.75 1,379 3/9/2018 1/30/2023 FA FHLMC 2.55% 1 /30/19 QRTL Y 2,000,000.00 1,970,800.00 2.872% 0.0001474 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% 0.0002019 384,705.14 3,107,205.14 1,804 4/10/2018 2/16/2023 FA FHLMC 2.625% CALL QRTL Y 2,500,000.00 2,474,500.00 2.851% 0.0001837 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% 0.0000742 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% 0.0001019 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% 0.0001255 189,946.67 2,218,166.67 1,449 4/10/2019 3/27/2023 FA FHLMC 2.83% CALL QUARTERLY 9/27/19 2,000,000.00 2,004,000.00 2.776% 0.0001449 220,198.89 2,224,198.89 1,447 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% 0.0000993 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 % 0.0000836 158,100.00 1,157,600.00 1,799 8/3/2018 6/28/2023 FA FHLMC 3.25% CALL 6/28/19 QRTL Y 2,000,000.00 1,999,000.00 3.260% 0.0001697 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% 0.0000807 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% 0.0001265 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% 0.0001999 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% 0.0001114 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% 0.0001086 200,701.88 1,500,076.88 1,727 8/24/2018 8/24/2023 FA FHLB 3.125% CALL 8/24/20 ONE TIME 1,750,000.00 1,750,000.00 3.125% 0.0001424 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% 0.0000772 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% 0.0001844 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% 0.0000660 114,362.92 1,130,572.92 1,658 4/16/2019 9/12/2023 FA FNMA 2.875% BULLET 1,750,000.00 1,783,757.50 2.410% 0.0001120 187,617.50 1,971 ,375.00 1,610 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% 0.0000800 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% 0.0001042 200,000.00 1,450,000.00 1,826 10/17/2018 10/2/2023 FA FFCB 3.05% NON-CALL 2,500,000.00 2,493,150.00 3.050% 0.0001980 384,922.92 2,878,072.92 1,811 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% 0.0000870 167,000.00 1,167,000.00 1,826 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% 0.0001031 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% 0.0000690 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% 0.0002356 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% 0.0001570 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% 0.0001367 262,500.00 1,762,500.00 1,838 12/18/2018 12/18/2023 FA FHLB 3.050% CALL 12/18/19 1,750,000.00 1,750,000.00 3.050% 0.0001390 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% 0.0001615 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% 0.0001372 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% 0.0001118 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% 0.0001986 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% 0.0001823 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% 0.0001019 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% 0.0002043 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% 0.0001531 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% 0.0001531 300,000.00 2,300,000.00 1,827 4/9/2019 4/5/2024 FA FFCB 2.3% BULLET 2,000,000.00 1,994,380.00 2.360% 0.0001226 234,725.56 2,229,105.56 1,823 4/9/2019 4/15/2024 FA FHLB 2.45% CALL ANNUALLY ON 4/15 2,000,000.00 2,000,000.00 2.742% 0.0001428 245,000.00 2,245,000.00 1,833 4/11/2019 4/15/2024 FA FHLMC 2.5% CALL ANNUALLY 4/15/20 1,000,000.00 1,000,000.00 2.791% 0.0000727 112,500.00 1,112,500.00 1,831 4/10/2019 4/15/2024 FA FHLMC 2.5% CALL ANNUALLY 4/15/20 2,000,000.00 2,000,000.00 2.791% 0.0001454 250,000.00 2,250,000.00 1,832 Page 4 5/15/2019 June 25, 2019 Item #1 Page 17 of 27 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF APRIL 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE {YIELD: AVG YIELD INTEREST RETURN {Days} SUB-TOTAL FA 383,628,000.00 383,971,920.65 1.764% 32,518,351.68 416,490,272.33 1,460 4/1/2015 9/26/2019 FN FICO 0% NON-CALL 2,100,000.00 1,958,591.39 1.560% 0.0024242 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% 0.0037886 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% 0.0028961 174,956.00 2,000,000.00 1,681 11/7/2016 10/9/2019 FN FNMA 0% NON-CALL 2,200,000.00 2,115,792.80 1.340% 0.0022495 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% 0.0014325 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% 0.0038194 249,240.00 3,000,000.00 1,819 SUB-TOTAL 13,500,000.00 12,603,579.19 1.6610% 896,420.81 13,500,000.00 1,442 Federal Investments Total 397,128,000.00 396,575,499.84 33,414,772.49 429,990,272.33 1,460 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% 0.0002272 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 7/21/2015 5/31/2019 TR US TREASURY 1.5% 1,500,000.00 1,505,156.25 1.408% 0.0002568 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% 0.0001250 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% 0.0005301 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% 0.0001211 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% 0.0002071 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% 0.0004240 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% 0.0002503 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% 0.0003377 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% 0.0002806 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% 0.0002954 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% 0.0003509 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% 0.0007840 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% 0.0002633 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% 0.0002415 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% 0.0002501 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% 0.0008527 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% 0.0002992 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% 0.0005932 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% 0.0002548 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% 0.0002882 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% 0.0004049 156,145.74 3,193,807.74 1,715 Page 5 5/15/2019 June 25, 2019 Item #1 Page 18 of 27 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF APRIL 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD; AVG YIELD INTEREST RETURN (Daysl 12/16/2016 5/31/2021 TR US TREASURY 2.000% 2,250,000.00 2,250,000.00 2.000% 0.0005453 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% 0.0003977 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% 0.0006241 238,058.93 2,785,371.43 1,657 1/20/2017 7/31/2021 TR US TREASURY 1.125% 1,500,000.00 1,448,203.13 1.925% 0.0003378 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% 0.0005673 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% 0.0003745 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% 0.0002897 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 % 0.0003000 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% 0.0004299 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% 0.0004140 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% 0.0004178 169,651.15 2,198,011.15 1,808 11/22/2016 11/15/2021 TR US TREASURY 2.00% 2,000,000.00 2,016,562.50 1.825% 0.0004459 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% 0.0009083 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% 0.0004345 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% 0.0007097 297,790.11 3,226,345.11 1,837 4/23/2019 2/28/2022 TR US TREASURY 1.875% 1,500,000.00 1,485,142.67 1.875% 0.0003374 95,105.29 1,580,247.96 1,042 3/2/2017 3/31/2022 TR US TREASURY 1.750% 3,000,000.00 2,963,925.00 2.000% 0.0007183 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 % 0.0004574 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% 0.0002666 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% 0.0006366 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% 0.0002413 99,716.44 1,080,666.44 1,813 SUB-TOTAL TR 82,740,000.00 82,528,889.41 1.727% 6,299,589.85 88,828,479.26 1,557 10/8/2015 5/6/2019 CN APPLE 2.10% MAKE WHOLE CALL 2,500,000.00 2,558,025.00 1.432% 0.0002217 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% 0.0002147 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% 0.0002430 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% 0.0003935 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% 0.0003780 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% 0.0003544 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% 0.0001810 92,660.83 2,605,385.83 702 4/20/2016 12/5/2019 CN JOHNSON & JOHNSON 1.875% MAKE WHOLE C 2,250,000.00 2,315,250.00 1.057% 0.0001481 87,679.69 2,402,929.69 1,324 1/17/2018 12/6/2019 CN WELLS FARGO BANK 2.15% 2,500,000.00 2,499,750.00 2.155% 0.0003260 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% 0.0002149 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% 0.0002360 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% 0.0003443 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% 0.0004989 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% 0.0004478 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% 0.0001431 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% 0.0003570 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% 0.0001100 87,504.84 1,145,533.33 1,803 9/24/2015 9/15/2020 CN AUTOMATIC DATA PROCESSING 2.25% MAKE-' 4,000,000.00 4,029,600.00 2.090% 0.0005097 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% 0.0005831 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% 0.0001276 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% 0.0003023 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% 0.0002282 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% 0.0003631 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% 0.0003496 167,377.77 2,150,077.77 1,054 Page 6 5/15/2019 June 25, 2019 Item #1 Page 19 of 27 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF APRIL 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days) 4/28/2016 3/1/2021 CN EXXON MOBIL 2.222% MAKE WHOLE CALL 2,000,000.00 2,042,900.00 1.750% 0.0002163 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% 0.0000901 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% 0.0003044 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% 0.0005612 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% 0.0001093 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% 0.0002435 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% 0.0002453 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% 0.0005678 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% 0.0002557 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% 0.0002382 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% 0.0003598 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% 0.0002198 130,522.50 1,680,262.50 1,330 11/7/2016 11/1/2021 CN IBM 2.90% MAKE WHOLE CALL 1,000,000.00 1,052,600.00 1.792% 0.0001141 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 1,982,100.00 1.930% 0.0002315 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% 0.0003024 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% 0.0001758 119,808.33 1,373,833.33 1,509 3/7/2019 3/3/2022 CN JOHNSON & JOHNSON 2.25% CALL 2/3/22 CON 1,250,000.00 1,236,787.50 . 2.620% 0.0001961 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% 0.0002861 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% 0.0004379 358,820.00 3,676,970.00 1,814 12/6/2017 5/15/2022 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE C 1,503,000.00 1,540,770.39 2.400% 0.0002238 162,504.36 1,703,274.75 1,621 1/8/2018 5/15/2022 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE C 1,000,000.00 1,023,300.00 2.432% 0.0001506 107,283.33 1,130,583.33 1,588 10/9/2018 5/15/2022 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE C 1,100,000.00 1,091,810.50 3.220% 0.0002128 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% 0.0003731 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% 0.0001867 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% 0.0001984 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% 0.0002810 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% 0.0002352 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% 0.0003593 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% 0.0002308 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% 0.0002931 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% 0.0003605 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% 0.0002893 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% 0.0004849 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% 0.0004993 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% 0.0001846 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% 0.0003267 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% 0.0003865 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% 0.0001840 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% 0.0001937 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% 0.0008443 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% 0.0007363 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% 0.0003437 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% 0.0002946 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% 0.0001718 122,665.56 1, 147,8@5.56 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% 0.0001929 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% 0.0002553 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 1,835,100.00 2.916% 0.0003238 234,520.00 2,069,620.00 1,607 Page 7 5/15/2019 June 25, 2019 Item #1 Page 20 of 27 CITY .OF CARLSBAD INVESTMENT SUMMARY AS OF APRIL 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN /Days) 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% 0.0005122 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% 0.0003222 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% 0.0003767 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% 0.0002579 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% 0.0001817 144,144.72 1,162,009.72 1,768 SUB-TOTAL CN 164,889,000.00 165,246,572.62 2.290% 15,824,513.29 181,071,085.91 1,553 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 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 BANK 2.15% 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 NATL 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 ALLYBANK2.10% 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 Page 8 5/15/2019 June 25, 2019 Item #1 Page 21 of 27 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF APRIL 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE {YIELD: AVG YIELD INTEREST RETURN {Days} 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 BANK 2.1 % 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-CA 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 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-Cl 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 MO.RGAN STANLEY PVT BANK 3.55% NON-CAL 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 INDIA 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 3.1_50% 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 242,647.00 242,647.00 2.000% 0.0000399 13.30 242,660.30 0 CORPORATE CASH MANAGEMENT ACCOUNT 4,877,539.67 4,877,539.67 2.000% 0.0008011 267.26 4,877,806.93 0 WELLS FARGO CUSTODY 871,626.95 871,626.95 0.950% 0.0000680 23.00 871,649.95 0 LA IF WATER DISTRICT 23,200,449.12 23,200,449.12 2.436% 0.0046415 1,569.90 23,202,019.02 0 LA I F PUBLIC IMPROVEMENT CORPORATION 19,658,951.62 19,658,951.62 2.436% 0.0039330 1,330.26 19,660,281 .88 0 LA I F PUBLIC FINANCING CORPORATION 24,068,382.30 24,068,382.30 2.436% 0.0048151 1,628.63 24,070,010.93 0 LA I F CITY OF CARLSBAD 48,844,108.93 48,844,108.93 2.436% 0.0097717 3,305.12 48,847,414.05 SUB-TOTAL 121,763,705.59 121,763,705.59 2.407% 8,137.46 121,771,843.05 GRAND TOTAL 801,882,705.59 801,342,510.05 1.982% 57,430,354.22 841,303,338.38 Page 9 5/15/2019 June 25, 2019 Item #1 Page 22 of 27 CITY OF CARLSBAD Fund Equity in Pooled Investments April 30, 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 Grants, Other 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 43,208,104 23,441,458 28,179,518 11,958,106 6,993,479 5,848,356 104,468,886 119,069,060 14,778,116 (132,907) 141,811,665 50,143,302 6,972,756 7,974,854 1,311,277 (1) The Reconciling Adjustments consist of differences between the General Ledger which is prepared EXHIBIT 8 139,847,383 34,484,764 357,812,176 208,213,854 48,896,910 15,204,088 804,459, 177 (3,424,382) 801,034,795 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. June 25, 2019 Item #1 Page 23 of 27 CITY OF CARLSBAD INVESTMENT PORTFOLIO Corporate Note and Commerical Paper Ratings As of April 30, 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) Mood)l's S&P Fitch Outlook 3m Company A1 AA-Stable/Neg ALPHABET, INC Aa2 AA+ Stable APPLE INC Aa1 AA+ Stable AUTOMATIC DATA PROCESSIN Aa3 AA Stable BERKSHIRE HATHWAY Aa2 AA AA-Stable BLACKROCKINC Aa3 AA-Stable Chevron Corp Aa2 AA Stable/Neg 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 MICROSOFT Aaa AAA AA+ Stable NEW YORK LIFE Aaa AA+ AAA Stable NOVARTIS CAPTIAL CORP A1 AA-AA-Stable PROCTER & GAMBLE Aa3 AA-Stable TOYOTA Aa3 AA-A+ Stable US BANK NA A1 AA-AA-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 * 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. EXHIBIT 9 Carrying Market Outlook Value Value Stable 5,123,023 5,054,868 Negative 4,677,365 4,637,293 Stable 3,514,424 3,480,855 June 25, 2019 Item #1 Page 24 of 27 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of April 30, 2019 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 MICROSOFT 3M COMPANY NEW YORK LIFE NOVARTIS CAPTIAL CORP PROCTER & GAMBLE TOYOTA US BANK WALMART WELLS FARGO BANK 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 Percent of Portfolio* 4,029,600 0.50% 5,364,100 0.67% 16,264,675 2.03% 8,312,201 1.04% 1,011,600 0.13% 14,307,799 1.79% 5,131,236 0.64% 10,632,541 1.33% 10,138,030 1.27% 4,725,316 0.59% 6,151,316 0.77% 17,196,798 2.15% 3,554,215 0.44% 4,017,520 0.50% 1,489,500 0.19% 5,607,889 0.70% 19,340,235 2.41% 6,585,975 0.82% 10,379,828 1.30% 11,006,200 1.37% 19,485,053 2.43% 4,961,759 0.62% 88,868,661 11.09% 93,813,727 11.71 % 111,546,459 13.92% 61,935,762 7.73% 5,716,571 0.71% 2,750,760 0.34% 7,496,748 0.94% 17,469,526 2.18% 82,528,889 10.30% 801 ,342,510 EXHIBIT 10 June 25, 2019 Item #1 Page 25 of 27 City of Carlsbad Bond Proceeds Investment Report March 31 , 2019 Stated Int. Maturity Fund Type Investments Rate Date Par Value Cost Source Assessment District 03-01 (College/Cannon) Fiscal Agent: BNYMellon Project Fund Invesco Gov. & Agency -Institutional Money Market N/A N/A $ 960,076 $ 960,076 Invesco Assessment District 96-01 (Rancho Carrillo) Fiscal Agent: BNYMellon Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC) 6.03% 09/02/28 $ 1,292,796 $ 1,292,796 HSBC Bank of New York ReAssessment District 2012-1 (College/Cannon & Poinsettia Lane) Fiscal Agent: BNYMellon Reserve Fund Invesco Gov. & Agency -Institutional Money Market various N/A $ 2,238,839 $ 2,238,839 BNY Mellon Other Invesco Gov. & Agency -Institutional Money Market various N/A $ 66 $ 66 BNY Mellon Communities Facilities District #3 Improvement Area 1, 2016 Bonds Fiscal Agent: BNYMellon Reserve Fund Invesco Gov. & Agency -Institutional Money Market various 09/01/36 $ 561,604 $ 561,604 BNY Mellon Other Invesco Gov. & Agency -Institutional Money Market various 09/01/36 $ 1,899 $ 1,899 BNY Mellon Communities Facilities District #3 Improvement Area 2, 2016 Bonds Fiscal Agent: BNYMellon Reserve Fund Invesco Gov. & Agency -Institutional Money Market various 09/01/38 $ 819,161 $ 819,161 BNY Mellon Other Invesco Gov. & Agency -Institutional Money Market various 09/01/38 $ 14,830 $ 14,830 BNY Mellon $ 5,889,271 $ 5,889,271 Exhibit 11June 25, 2019 Item #1 Page 26 of 27 ~--I-City of Carlsbad Summary of Outstanding Housing Loans Ill As of April 30, 2019 :c Loan amount Developer loan Loans issued by City Loans issued by due to City amount due to >< First date # of loans to developers/ Developer to # of loans City loan repaid Developer loan (recorded as City (not on City's w Borrower Develoement Pureose issued issued homeowners homeowners outstanding to City repaid to City AR) books) Type of Loan Individual homebuyers Solamar Sale 09/26/88 9 147,726 1 (135,065) 12,661 12,661 Principal is due when home is sold Bridge Housing Corp Villa Loma Rentals 11/04/94 2 2,212,000 0 (2,212,000) Principal and 3% interest each year for 15 years when surplus cash is available Catholic Charities Homeless shelter Shelter 09/19/97 1 200,000 1 200,000 200,000 Principal is due when property is sold CB Laurel Tree Apartments Laurel Tree Rentals 12/24/98 2 1,134,000 2 (1,134,000) (0) (O) =~:~i~~~;I:: ::~ni~e::s~i~~~= year for 30 years Individual homebuyers Rancho Carlsbad Sale 05/20/99 22 752,533 5 (616,633) 135,900 135,900 Principal is due when home is sold Individual homebuyers City-wide (CHAP) Sale 06/28/99 133 $1,680,000 $ 0 ($1,680,000) $ ($0.08) $ (O) ~~l~~se~~~e:~;r:~I~ t~;oar~.16~~ ~:t:;est is due Individual homebuyers Cherry Tree Walk Sale 06/28/99 42 453,600 452,600 12 (324,000) (283,250) 129,600 169,350 298 950 Payment deferred 30 years. No interest is due ' unless home is sold before 31th year Individual homebuyers Calavera Hills Sale 10/15/99 5 75,000 150,000 1 (60,000) (120,000) 15,000 30,000 45 000 Payment deferred 30 years. No interest is due ' unless home is sold before 31th year Poinsettia Housing Assoc Poinsettia Station Rentals 10/21/99 1 920,000 1 (690,529) 229,471 229 471 Principal and 3% interest each year for 55 years ' when surplus cash is available Pacific Vista Las Flores Vista Las Flores Rentals 02/27/01 1 363,948 1 363,948 363 948 Principal and 3% interest each year for 55 years ' when surplus cash is available USA Properties c/o CFHP Rancho Carrillo Rentals 03/05/01 1 1,157,584 1 (1,157,584) (0) (O) =~:~i~~~;l:~ !!:~ni~e::s~i~:~: year for 55 years Individual homebuyers Serrano Sale 05/25/01 90 1,350,000 4,050,000 23 (1,035,135) (2,790,000) 314,865 1,260,000 1 574 865 Payment deferred 30 years. No interest is due ' ' unless home is sold before 31th year Dove Family Housing La Costa Paloma Rentals 07/15/03 1 2,070,000 1 (2,070,000) (0) (O) =~:~i~~~;I:: !::~ni~e::s~i~~~= year for 55 years CIC Calavera LP Mariposa Apts Rentals 09/15/04 1 1,060,000 1 1,060,000 1 060 000 Principal and 3% interest ea~h year for 55 years ' ' when surplus cash is available Individual homebuyers Mulberry at Sale 04/29/05 100 1,840,000 19,660,200 100 1,840,000 19,660,200 21 500 200 Payment deferred 30 years. No interest is due Bressi Ranch ' ' unless home is sold before 31th year Individual homebuyers Village by the Sea Sale 10/28/05 11 220,000 4,087,200 11 220,000 4,087,200 4 307 200 Payment deferred 30 years. No interest is due ' ' unless home is sold before 31th year El Camino Family Housing Cassia Heights Rentals 03/07/06 1 1,454,276 1 (1,454,276) Principal and 3% interest each year for 55 years when surplus cash is available Individual homebuyers Laguna Point Sale 07/06/06 3 210,000 2 (70,000) 140,000 140 000 Payment deferred 45 years. No interest is due ' unless home is sold before 46th year Individual homebuyers The Bluffs Sale 06/14/07 10 200,000 10 200,000 200 000 Payment deferred 30 years. No interest is due ' unless home is sold before 31th year Individual homebuyers Roosevelt Gardens Sale 08/30/07 11 1,583,423 11 1,583,423 1,583,423 :~~ ~~.~~~~d~2~~17~!s~69 / Resolution 2006-131 CIC La Costa Hunter's Point Rentals 08/19/08 1 1,932,000 1 1,932,000 1,932,000 Refer to AB18,251 / Resolution 2005-264 Down Payment & Closing Various Assistance 06/25/09 22 255,518 20 (20,800) 234,718 234,718 Refer to Agenda Bill 19,415 / Resolution 2008-121 Cost Assistance CIC Glen Ridge, LP Glen Ridge Rentals 10/05/09 1 1,014,000 1 1,014,000 1,014,000 Refer to Agenda Bill 397 / Resolution 435 Catholic Charities Homeless shelter Shelter 03/01/10 3 507,585 3 507,585 507,585 ~:~~~t:2~~7~s4;;;~~~~g:~068; AB20,530/R2011- Individual homeowners N/A Minor Home 05/20/10 12 30,677 6 (4,083) 26,594 26,594 Refer to AB19,415 / Resolution 2008-121 Repair ~~varua Senior Apartments, Tavarua Rentals 12/14/11 1 1 Refer to Agenda Bill 418 / Resolution 475 North County Solutions for Property Acquisition Rentals 06/28/12 1 780,000 1 780,000 780,000 Refer to Agenda Bill 20,936/Resolution 2012-136 Change Hospice of North Coast N/A Property 02/27/13 1· 1,065,000 1 1,065,000 1,065,000 Refer to AB21, 116/Resolution 2013-027 Acquisition Harding Street Neighbors, Carol-Harding Property 03/14/13 1 7,408,000 1 7,408,000 7,408,000 Refer to AB21,028/Resolution 2012-235 LP Duplex Acquisition Tracy Templeton Laguna Point Sale 04/17/13 1 108,150 1 108,150 108,150 TBD Thomas & Judy Kim Rose Bay Sale 08/23/13 1 229,775 1 229,775 229 775 Payment deferred 30 years. No interest is due ' unless home is sold before 31th year Solutions for Change N/A Property 12/19/14 1 2,646,000 1 2,646,000 2,646,000 Refer to AB21,763/Resolution 2014-243 Acquisition Chelsea Inv Corp/Quarry Quarry Creek Rentals 08/31/16 1 1,280,000 1 {223,474) 1,056,526 1,056,526 Creek CiC LLP Allowances (1 ,798,379) (1,798,379) 494 $ 34,542,416 $ 28,400,000 224 $ (12,887,580) $ (3,193,250) $ 21,654,837 $ 25,206,_75_0 $ _48,65_9,966 February 2019: received a $8,300 pay-off related to the Down Payment & Closing Cost Assistance Program. Exhibit 12June 25, 2019 Item #1 Page 27 of 27