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HomeMy WebLinkAbout2019-07-16; City Council; ; Report on City Investments as of May 31, 2019~ CITY COUNCIL ~ Staff Report Meeting Date · To: From: Staff Contact: July 16, 2019 Mayor and Council Members Scott Chadwick, City Manager Craig Lindholm, City Treasurer; CA Review (.,Jl., Laura Rocha, Deputy City Manager -Administrative Services, Laura.Rocha@carlsbadca.gov or 760-602-2415 Subject: Report on City Investments as of May 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 May 31, 2019 is summarized below. I Pooled Investment Portfolio {Cash and Securities} Current Month Prior Month Par Value $811,761,366 $801,882,706 Cost of Investments $811,339,035 $801,342,510 Amortized Cost (1) $811,127,759 $800,393,295 · Market Value (2) $812,446,598 $799,089,976 (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 May 31, 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 July 16, 2019 Item #1 Page 1 of 25 All pooled investments have been made in accordance with the city's Investment Policy adopted January 2, 1985 and last revi-sed 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 reaso,nably 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. July 16, 2019 Item #1 Page 3 of 25 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 July 16, 2019 Item #1 Page 4 of 25 AS OF MAY 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 Prior Month CD $18,506,000 $17,758,317 $18,492,188 $17,731,888 $314,247 2.14 2.19 FN 13,500,000 12,603,579 13,327,282 13,283,237 27,272 1.66 1.66 TR 80,440,000 82,528,889 80,007,774 81,809,541 1,587,837 1.74 1.73 FA 389,478,000 383,971,921 389,863,294 382,208,376 6,009,858 1.72 1.76 SN 19,600,000 17,469,526 19,652,799 17,483,451 197,136 1.93 2.12 CN 162,239,000 165,246,573 163,104,894 164,809,778 3,510,738 2.32 2.29 LAIF 119,271,892 115,771,892 119,271,892 119,271,892 2,116,111 2.45 2.44 CUSTODY 2,754,746 871,627 2,754,746 2,754,746 6,788 0.95 0.95 SWEEP 5,740,728 4,877,539 5,740,728 5,740,728 75,094 -2.00 2.00 BANK ACCT 231,000 242,647 231,000 231,000 0 2.00 2.00 -- TOTALS $811,761,366 $801,342,510 $812,446,597 $805,324,637 $13,845,082 1.97% 1.98% 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 -c:, --I ~ July 16, 2019 Item #1 Page 5 of 25 CLASS CD FN TR FA SN CN LAIF CUSTODY SWEEP BANK ACCT TOTALS % TOTALS CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF MAY 31, 2019 BREAKDOWN OF MA TUR/TIES BY CLASS/FICA TION AND LENGTH OF TIME (MARKET VALUE) WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR 1 TO 5 YEARS TOTAL 2,963,657 3,409,196 12,119,336 $18,492,188 10,411,522 0 2,915,760 13,327,282 4,755,493 5,855,780 69,396,501 80,007,774 41,254,430 54,350,299 294,258,565 389,863,294 0 0 19,652,799 19,652,799 10,288,723 21,971,685 130,844,486 163, 104,894 119,271,892 0 0 119,271,892 2,754,746 0 0 2,754,746 5,740,729 0 0 5,740,729 231,000 0 0 231,000 $197,672,191 (1) $85,586,960 (1) $529,187,448 $812,446,598 24.3% 10.5% 65.1% 100.0% % TOTAL 2.3% 1.6% 9.9% 48.0% 2.4% 20.1% (2) 14.7% 0.3% 0.7% 0.0% 100.0% Total within One Year $283,259,151 (1) 34.9% 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: 0, =i N July 16, 2019 Item #1 Page 6 of 25 Market Rates MARKET YIELD CURVE 6/30/17, 6/30/18,5/31/19 3.50 ~--------------:----------- 3.00 2.50 r ---------~ ____ ...-___ -• ------2.00 ;:::...-::::. ----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 -... · 5/30/2019 2.23 1.88 1.87 2.13 m >< :r:· -OJ --i +:::,, July 16, 2019 Item #1 Page 8 of 25 Maturity Security Date CUSIP Investment# Fund Type 04/01 /2019 3133XTFG6 11607 100 FAC 04/05/2019 31771EAR2 11433 100 AFD 04/09/2019 57629WBU3 11517 100 MTN 04/10/2019 31315PR43 11715 100 FAC 04/30/2019 912828ST8 11716 100 TRC 05/06/2019 037833AQ3 11553 100 MTN 05/07/2019 3134G43G1 11364 100 FAC 05/15/2019 459200HE4 11499 100 MTN 05/24/2019 94988J5D5 11856 100 MTN 05/30/2019 3137EADG1 11502 100 FAC 05/30/2019 3137EADG1 11520 100 FAC 05/31/2019 912828WL0 11535 100 TRC 05/31/2019 912828WL0 · 11744 100 TRC 06/14/2019 3132X0BF7 11521 100 FAC 06/14/2019 3132X0BF7 11618 100 FAC 06/24/2019 3133EEZ60 11512 100 FAC 06/24/2019 3133EEZ60 11516 100 FAC 06/28/2019 3136G3TD7 11658 100 FAC Run Date: 06/12/201 9 -08:53 City of Carlsbad Maturing Investments Sorted by Maturity Date April 1, 2019 -June 30, 2019 Dealer's Phone Issuer Dealer Number Federal Home Loan Bank RAYMON Financing Corporation RBC MASS MUTUAL GLOB UBOC FARMER MAC MULTI United States Treasury MULTI April 2019 Subtotal APPLE INC UBOC Federal Home Loan Mortgage Cor MULTI IBM CORP UBOC WELLS FARGO BANK NA PIPER Federal Home Loan Mortgage Cor STIEF Federal Home Loan Mortgage Cor UBOC United States Treasury STIEF United States Treasury STIEF May 2019 Subtotal FARMER MAC PIPER . FARMER MAC PIPER Federal Farm Credit Bank RBC Federal Farm Credit Bank RBC Federal National Mortgage Asso FIRST June 2019 Subtotal Total Maturity Par Value 1,500,000.00 4,000,000.00 3,250,000.00 500,000.00 800,000.00 10,050,000.00 2,500,000.00 1,000,000.00 2,150,000.00 3,000,000.00 1,650,000.00 1,000,000.00 1,500,000.00 800,000.00 13,600,000.00 1,060,000.00 3,000,000.00 2,000,000.00 2,250,000.00 2,500,000.00 10,810,000.00 34,460,000.00 Stated Rate Comments 4.250 BULLET 1.337 2.350 1.860 1.250 2.100 MAKE WHOLE CALL 1.200 ONE CALL 5/7/15 1.875 MAKE WHOLE CALL 1.750 1.750 BULLET 1.750 1.500 1.500 1.500 1.500 1.520 BULLET 1.520 1.200 CALL 12/28/16 QRTLY Portfolio C AP Ml (PRF_MI) 7.1.1 Report Ver. 7.3.6.1 Exhibit 6July 16, 2019 Item #1 Page 10 of 25 Sec. CUSIP Investment# Fund Type Issuer General Fund 3130ACH72 12026 100 FAG FHLB 3134GTAC7 12024 100 FAG FHLMC 3133EKGD2 12025 100 FAG FFCB 3133EKFK7 12027 100 FAG FFCB 3130AGAA3 12022 100 FAG FHLB 3134GTGZO 12029 100 FAG FHLMC 3134GTGZO 12030 100 FAG FHLMC 3135GOU43 12032 100 FAG FNMA 3134GTEW9 12033 100 FAG FHLMC 912828W55 12034 100 TRC USTR 3134GTHH9 12028 100 FAG FHLMC 3134GTGT4 12031 100 FAG FHLMC 742718EU9 12035 100 MTN PG 3134GBS86 12036 100 FAG FHLMC 06653LAEO 12048 100 BCD FARMER 3133EKKU9 12042 100 FAG FFCB 3133EDBU5 12043 100 FAG FFCB 3130AGEF8 12041 100 FAG FHLB 3130AGDU6 12045 100 FAG FHLB 4581XOXXO 12044 100 MC3 IADB 06406RAG2 12055 100 MTN BNYME 17325FAS7 12050 100 MTN CITIBA 29367RKT2 12049 100 BCD ENTBK 3134GTMR1 12038 100 FAG FHLMC 3134GTNE9 12039 100 FAG FHLMC 27002YEN2 12052 100 BCD EAGLE 336460CQ1 12058 100 BCD FIRSTD Subtotal Total Purchases Run Date: 06/12/2019 -08:53 City of Carlsbad Purchases Report Sorted by Fund -Fund April 1, 2019 -June 30, 2019 Original Purchase Principal Par Value Date Payment Purchase 1,000,000.00 04/10/2019 10104 -04/04 995,340.00 2,000,000.00 04/11/2019 09/27-03/27 2,004,000.00 2,000,000.00 04/12/2019 10/05 -04105 1,994,380.00 2,000,000.00 04/12/2019 07/05 -01/05 1,999,600.00 2,000,000.00 04/15/2019 10115 -04115 2,000,000.00 1,000,000.00 04/15/2019 10/15 -04/15 1,000,000.00 2,000,000.00 04/15/2019 10115 -04/15 2,000,000.00 1,750,000.00 04/18/2019 09/12-03/12 1,783,757.50 1,500,000.00 04/23/2019 10/08 -04/08 1,500,000.00 1,500,000.00 04/23/2019 08/31 -02/29 1,481,015.63 2,000,000.00 04/24/2019 07/24 -01/24 2,000,000.00 1,750,000.00 04/24/2019 07/24 -01/24 1,750,000.00 2,000,000.00 05/02/2019 08/11 -02/11 1,986,800.00 1,500,000.00 05/06/2019 10/16 -04/16 1,488,345.00 249,000.00 05/08/2019 05/30 -Monthly 249,000.00 2,000,000.00 05/09/2019 11/08 -05108 2,001,700.00 1,000,000.00 05/09/2019 06/20 -12/20 1,052,900.00 1,000,000.00 05/09/2019 11/07 -05/07 1,005,320.00 3,000,000.00 05/09/2019 11/08 -05/08 2,998,800.00 2,000,000.00 05/09/2019 11/07 -05/07 2,058,280.00 2,000,000.00 05/16/2019 10/28 -04/28 2,061,800.00 1,000,000.00 05/16/2019 07/23 -01/23 1,034,870.00 246,000.00 05/16/2019 11/16-05/16 246,000.00 2,500,000.00 05/20/2019 11/20 -05/20. 2,500,000.00 5,000,000.00 05/22/2019 10/28 -04/28 5,000,000.00 249,000.00 05/24/2019 06/14 -Monthly 249,000.00 249,000.00 06/28/2019 06/28 -Final Pmt. 249,000.00 44,493,000.00 44,689,908.13 44,493,000.00 44,689,908.13 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 9,675.00 2.150 1,541.67 1.850 2.500 127.78 2.300 13,513.89 3.500 133.33 2.400 227.50 2.730 5,833.33 3.000 3,500.00 3.500 11,456.94 3.650 2.600 2.700 2.625 2.500 2.300 61,213.56 61,213.56 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 08/11/2022 2.360 10/16/2020 2.400 05/08/2023 2.500 11/08/2023 2.280 12/20/2023 2.285 05/07/2024 2.287 05/08/2024 2.739 10/04/2023 2.301 04/28/2023 2.670 01/23/2024 2.836 05/16/2024 2.600 05/20/2024 2.700 04/28/2023 2.625 05/24/2024 2.500 06/28/2024 2.300 Ending Book Value 995,641.00 2,003,775.60 1,994,627.62 1,999,627.17 2,000,000.00 1,000,000.00 2,000,000.00 1,782,201.76 1,500,000.00 1,482,272.75 2,000,000.00 1,750,000.00 1,987,460.56 1,489,577.74 249,000.00 2,001,645.40 1,051,243.89 1,005,166.14 2,998,834.69 2,056,367.97 2,059,844.30 1,033,939.86 246,000.00 2,500,000.00 5,000,000.00 249,000.00 249,000.00 44,685,226.45 44,685,226.45 Portfolio CARL AP PU (PRF _PU) 7.1.1 Report Ver. 7.3.6.1 July 16, 2019 Item #1 Page 11 of 25 City of Carlsbad Sales/Call Report Sorted by Maturity Date -Fund April 1, 2019 -June 30, 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 05/11/2020 3134GBKM3 11898 100 FHLMC 05/04/201 05/11/201 2,000,000.00 2.000 \, 1,994,552.96 2,000,000.00 20,000.00 2,020,000.00 25,447.04 FAC 05/11/202 Call Subtotal 2,000,000.00 1,994,552.96 2,000,000.00 20,000.00 2,020,000.00 25,447.04 06/08/2020 3134GBQW5 11780 100 FHLMC 06/08/201 06/10/201 2,550,000.00 1.250 \, 2,549,830.94 2,550,000.00 177.08 2,550,177.08 346.14 FAC 06/08/202 Call Subtotal 2,550,000.00 2,549,830.94 2,550,000.00 177.08 2,550,177.08 346.14 04/26/2021 3130AE4HO 11887 100 FHLB 04/26/201 05/22/201 2,000,000.00 2.680 2,000,000.00 2,000,000.00 3,871.11 2,003,871.11 3,871.11 FAC 04/26/202 Call Subtotal 2,000,000.00 2,000,000.00 2,000,000.00 3,871.11 2,003,871.11 3,871.11 10/29/2021 3130AF4E4 11943 100 FHLB 11/07/201 04/29/201 1,250,000.00 3.150 1,248,425.84 1,250,000.00 19,687.50 1,269,687.50 21 ,261 .66 FAC 10/29/202 Call Subtotal 1,250,000.00 1,248,425.84 1,250,000.00 19,687.50 1,269,687.50 21,261.66 02/14/2022 3133EJCG2 11870 100 FFCB 02/27/201 06/06/201 1,800,000.00 2.730 1,800,000.00 1,800,000.00 15,288.00 1,815,288.00 15,288.00 FAC 02/14/202 Call Subtotal 1,800,000.00 1,800,000.00 1,800,000.00 15,288.00 1,815,288.00 15,288.00 03/07/2022 3133EJEU9 11871 100 FFCB 03/07/201 05/23/201 1,250,000.00 2.850 1,250,000.00 1,250,000.00 7,520.83 1,257,520.83 7,520.83 FAC 03/07/202 Call Subtotal 1,250,000.00 1,250,000.00 1,250,000.00 7,520.83 1,257,520.83 7,520.83 02/28/2023 3134GSDXO 11876 100 FHLMC 03/13/201 05/28/201 1,250,000.00 2.500 \, 1,250,000.00 1,250,000.00 7,812.50 1,257,812.50 7,812.50 FAC 02/28/202 Call 3130ADP89 11863 100 FHLB 02/28/201 06/12/201 1,000,000.00 2.~50 1,000,000.00 1,000,000.00 8,233.33 1,008,233.33 8,233.33 FAC 02/28/202 Call Subtotal 2,250,000.00 2,250,000.00 2,250,000.00 16,045.83 2,266,045.83 16,045.83 V -Security with variable rate change. Portfolio CARL AP Run Date: 06/12/2019 -08:54 SA (PRF _SA) 7.1.1 Report Ver. 7.3.6.1 July 16, 2019 Item #1 Page 12 of 25 Issuer Purchase Redem. Date CUSIP Investment# Fund Sec. Type Date Matur. Date -04/25/2023 3133EJMCO 11897 100 FFCB 05/04/201 04/25/201 FAC 04/25/202 Subtotal 04/27/2023 3134GSJCO 11892 100 FHLMC 04/27/201 04/27/201 FAC 04/27/202 3134GSJCO 11894 100 FHLMC 05/04/201 04/27/201 FAC 04/27/202 Subtotal Total Sales Run Date: 06/12/2019 -08:54 City of Carlsbad Sales/Call Report April 1, 2019 -June 30, 2019 Par Rate at Book Value Value Redem. at Redem. 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 20,015,000.00 20,003,232.01 Redemption Redemption Principal Interest 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 20,015,000.00 187,419.10 Total Amount 2,537,500.00 Call 2,537,500.00 2,030,500.00 Call 2,451,828.75 Call 4,482,328.75 20,202,419.10 Page 2 Net Income 40,138.19 40,138.19 30,500.00 38,768.29 69,268.29 199,187.09 Portfolio CARL AP SA (PRF _SA) 7.1.1 Report Ver. 7.3.6.1 July 16, 2019 Item #1 Page 13 of 25 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MAY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD] AVG YIELD INTEREST RETURN (Days} 7/15/2015 6/14/2019 FA FAMCA 1.50% NON-CALL 1,060,000.00 1,060,000.00 1.500% 0.0000408 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% 0.0000899 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% 0.0000765 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% 0.0000869 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% 0.0000769 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% 0.0001213 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% 0.0000619 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% 0.0000686 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% 0.0000835 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% 0.0000833 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% 0.0000616 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% 0.0000638 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% 0.0000703 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% 0.0000368 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% 0.0000971 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% 0.0001335 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% 0.0001334 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% 0.0001512 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% 0.0000393 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% 0.0000939 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% 0.0001142 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% 0.0000470 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% 0.0001271 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% 0.0001493 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% 0.0000917 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% 0.0000951 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% 0.0000673 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% 0.0000359 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% 0.0000817 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% 0.0001079 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% 0.0001085 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% 0.0000804 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% 0.0000798 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% 0.0000861 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% 0.0001603 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% 0.0000420 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% 0.0000763 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% 0.0001202 175,781.25 3,925,781 .25 1,370 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% 0.0000719 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% 0.0000500 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% 0.0000895 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% 0.0000632 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% 0.0000534 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% 0.0001026 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% 0.0001322 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% 0.0001347 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% 0.0000665 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% 0.0000687 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% 0.0001297 202,300.00 4,452,300.00 1,461 Page 1 6/13/2019 • Exhibit 7July 16, 2019 Item #1 Page 14 of 25 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MAY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 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% 0.0001242 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% 0.0000698 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% 0.0000901 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% 0.0001027 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% 0.0000321 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% 0.0000998 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% 0.0000577 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% 0.0001121 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% 0.0000652 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% 0.0000553 74,057.39 1,406,076.39 1,269 5/6/2019 10/16/2020 FA FHLMC 1.85% CALL 7/16/19 QUARTERLY 1,500,000.00 1,488,345.00 2.400% 0.0000916 51,738.33 1,540,083.33 529 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% 0.0001140 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% 0.0000991 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% 0.0000721 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% 0.0000466 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% 0.0000889 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% 0.0000795 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% 0.0000834 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% 0.0001349 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% 0.0001257 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% 0.0000803 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% 0.0001165 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% 0.0000898 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% 0.0000715 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% 0.0001004 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% 0.0000700 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% 0.0000539 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% 0.0000208 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% 0.0000907 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% 0.0000659 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% 0.0001199 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% 0.0001282 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% 0.0001165 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% 0.0000984 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% 0.0000944 128,868.75 2,102,881.25 1,278 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% 0.0001359 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% 0.0001715 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% 0.0001202 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% 0.0000548 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% 0.0000817 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% 0.0000646 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% 0.0000844 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% 0.0001407 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% 0.0000714 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% 0.0000956 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% 0.0001510 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% 0.0001384 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% 0.0000509 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% 0.0000680 119,250.00 1,444,250.00 1,642 Page 2 6/13/2019 July 16, 2019 Item #1 Page 15 of 25 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MAY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 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% 0.0001340 177,893.33 2,123,893.33 1,231 3/27/2019 9/27/2021 FA FH LB 2.55% CALL 3/27/20 1,500,000.00 1,500,000.00 2.550% 0.0000981 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% 0.0001476 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% 0.0000926 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% 0.0001144 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% 0.0001625 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% 0.0001354 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% 0.0000943 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% 0.0001762 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% 0.0000827 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% 0.0001283 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% 0.0001442 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% 0.0001260 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% 0.0001355 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% 0.0001010 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% 0.0001308 153,000.00 2,153,000.00 1,096 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% 0.0000871 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% 0.0000693 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% 0.0000766 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% 0.0000963 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% 0.0001125 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% 0.0001035 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% 0.0002133 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% 0.0000794 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% 0.0001148 145,617.00 1,922,325.00 1,183 3/9/2018 6/14/2022 FA FHLMC 2.070% CALL 6/14/18 QRTL Y 1,000,000.00 980,000.00 2.568% 0.0000646 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% 0.0000679 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% 0.0000488 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% 0.0000810 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% 0.0001379 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% 0.0000860 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% 0.0000854 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% 0.0001337 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% 0.0000730 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% 0.0000772 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% 0.0001349 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% 0.0000950 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% 0.0000689 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% 0.0000686 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% 0.0001282 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% 0.0000613 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% 0.0000498 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% 0.0000741 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% 0.0000892 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% 0.0001952 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% 0.0001475 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% 0.0001420 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% 0.0001770 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% 0.0001282 250,000.00 2,250,000.00 1,826 Page 3 6/13/2019 July 16, 2019 Item #1 Page 16 of 25 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MAY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD] AVG YIELD INTEREST RETURN (Days) 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% 0.0001145 167,343.75 1,917,343.75 1,379 3/9/2018 1/30/2023 FA FHLMC 2.55% 1/30/19 QRTLY 2,000,000.00 1,970,800.00 2.872% 0.0001452 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% 0.0001989 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% 0.0001810 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% 0.0000731 142,500.00 1,142,500.00 1,841 3/22/2019 3/10/2023 FA FHLB 2.75% BULLET 2,000,000.00 2,028,220.00 2.375% 0.0001236 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% 0.0001427 220,198.89 2,224,198.89 1,447 5/22/2019 4/28/2023 FA FHLMC 2.625% CALL QUARTERLY 4/28/20 5,000,000.00 5,000,000.00 2.625% 0.0003367 516,250.00 5,516,250.00 1,437 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% 0.0000978 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 % 0.0000823 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% 0.0001672 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% 0.0000795 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% 0.0001246 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% 0.0001969 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% 0.0001098 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% 0.0001070 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% 0.0001403 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% 0.0000760 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% 0.0001816 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% 0.0000650 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% 0.0001103 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% 0.0000788 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% 0.0001026 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% 0.0001950 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% 0.0000857 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% 0.0001016 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% 0.0000679 123,803.33 1,141,333.33 1,719 5/9/2019 11/8/2023 FA FFCB 2.3% BULLET 2,000,000.00 2,001,700.00 2.280% 0.0001171 205,172.22 2,206,872.22 1,644 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% 0.0002321 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% 0.0001547 301,500.00 2,101,500.00 1,826 12/6/2018 12/18/2023 FA FHLMC 3.5% CALL 6/18/19 QTLY 1,500,000.00 1,500,000.00 3.500% 0.0001347 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% 0.0001369 266,875.00 2,016,875.00 1,826 5/9/2019 12/20/2023 FA FFCB 3.5% BULLET 1,000,000.00 1,052,900.00 3.500% 0.0000945 108,586.11 1,161,486.11 1,686 12/28/2018 12/28/2023 FA FHLB 3.10% CALL 12/28/20 2,000,000.00 2,000,000.00 3.100% 0.0001590 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% 0.0001351 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% 0.0001101 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% 0.0001956 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% 0.0001795 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% 0.0001003 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% 0.0002012 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% 0.0001508 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% 0.0001508 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% 0.0001207 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% 0.0001407 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% 0.0000716 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% 0.0001432 250,000.00 2,250,000.00 1,832 5/9/2019 5/7/2024 FA FHLB 2.4% BULLET 1,000,000.00 1,005,320.00 2.287% 0.0000590 114,546.67 1,119,866.67 1,825 5/9/2019 5/8/2024 FA FHLB 2.73% CONT CALL 11/18/19 3,000,000.00 2,998,800.00 2.739% 0.0002107 410,472.50 3,409,272.50 1,826 5/20/2019 5/20/2024 FA FHLMC 2.7% CALL ANNUALLY 5/20/20 2,500,000.00 2,500,000.00 2.700% 0.0001731 337,500.00 2,837,500.00 1,827 Page 4 6/13/2019 July 16, 2019 Item #1 Page 17 of 25 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MAY 31, 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 389,478,000.00 389,867,856.65 1.720% 33,429,472.21 423,297,328.86 1,466 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 402,978,000.00 402,471,435.84 34,325,893.02 436,797,328.86 1,465 8/3/2017 8/10/2020 SN IBRD 1.125% NON-CALL 2,000,000.00 1,972,100.00 1.600% 0.0016158 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% 0.0016125 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% 0.0016473 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% 0.0023120 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% 0.0027363 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% 0.0013380 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% 0.0002309 140,553.33 1,611 ,333.33 1,354 5/9/2019 10/24/2023 SN IADB 3.0% BULLET 2,000,000.00 2,058,280.00 2.300% 0.0002911 205,886.67 2,264,166.67 1,629 1/18/2018 1/18/2023 SN IADB 2.50% NON-CALL 1,700,000.00 1,702,652.00 2.467% 0.0021510 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% 0.0013028 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% 0.0040327 468,750.00 3,468,750.00 1,826 Supranational Investment Total 19,600,000.00 19,527,805.89 1.927% 1,927,430.94 21,455,236.83 1,456 8/1/2014 7/31/2019 TR US TREASURY 1.625% 2,515,000.00 2,500,019.15 1.750% 0.0005454 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% 0.0001246 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% 0.0002131 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% 0.0004363 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% 0.0002575 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% 0.0003475 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 % 0.0002887 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% 0.0003039 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% 0.0003610 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% 0.0008066 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% 0.0002709 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% 0.0002484 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 % 0.0002573 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% 0.0008773 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% 0.0003078 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% 0.0006102 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% 0.0002621 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% 0.0002965 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% 0.0004165 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% 0.0005610 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% 0.0004092 154,053.80 2,631,453.80 1,706 Page 5 6/13/2019 July 16, 2019 Item #1 Page 18 of 25 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MAY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 12/16/2016 6/30/2021 TR US TREASURY 1.125% 2,650,000.00 2,547,312.50 2.022% 0.0006421 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% 0.0003475 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% 0.0005837 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% 0.0003852 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% 0.0002980 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% 0.0003087 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% 0.0004423 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% 0.0004259 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% 0.0004298 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% 0.0004588 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% 0.0009345 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% 0.0004470 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% 0.0007301 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% 0.0003471 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% 0.0007390 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% 0.0004705 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% 0.0002743 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% 0.0006549 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% 0.0002482 99,716.44 1,080,666.44 1,813 SUB-TOTAL TR 80,440,000.00 80,219,858.16 1.737% 6,194,492.61 86,414,350.77 1,579 7/16/2015 7/18/2019 CN TOYOTA2.125% NON-CALL 2,000,000.00 2,009,760.00 1.998% 0.0002469 160,476.11 2,170,236.11 1,463 11/18/2014 11/15/2019 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 3,000,000.00 3,017,400.00 2.070% 0.0003841 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% 0.0003601 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% 0.0001839 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% 0.0001505 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% 0.0003313 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% 0.0002184 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% 0.0002398 119,275.00 2,119,275.00 1,117 9/25/2015 3/3/2020 CN CHEVRON 1.961% MAKE WHOLE CALL 2,800,000.00 2,790,704.00 2.039% 0.0003499 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% 0.0005070 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% 0.0004550 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% 0.0001454 93,890.62 1,596,890.62 1,452 11/3/2015 8/7/2020 CN 3M COMPANY 2.0% MAKE WHOLE CALL 3,500,000.00 3,554,215.00 1.660% 0.0003628 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% 0.0001118 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% 0.0005179 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% 0.0005925 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% 0.0001297 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% 0.0003072 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% 0.0002319 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% 0.0003690 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% 0.0003553 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% 0.0002198 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% 0.0000916 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% 0.0003093 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% 0.0005702 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% 0.0001111 86,545.14 1,180,545.14 1,819 Page 6 6/13/2019 July 16, 2019 Item #1 Page 19 of 25 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MAY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD] AVG YIELD INTEREST RETURN (Days) 4/17/2017 5/19/2021 CN ALPHABET, INC 3.625% MAKE WHOLE CALL 2,000,000.00 2,136,700.00 1.883% 0.0002474 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% 0.0002493 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% 0.0005770 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% 0.0002598 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% 0.0002421 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% 0.0003656 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% 0.0002234 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% 0.0001160 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% 0.0002352 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% 0.0003073 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% 0.0001786 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% 0.0001993 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% 0.0002907 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% 0.0004450 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% 0.0002274 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% 0.0001530 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% 0.0002162 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% 0.0003792 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% 0.0001897 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 1,547,1 60.00 2.119% 0.0002016 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% 0.0002855 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% 0.0002390 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% 0.0003651 226,786.74 2,053,414.44 1,371 5/2/2019 8/11/2022 CN PROCTOR & GAMBLE 2.15% BULLET 2,000,000.00 1,986,800.00 2.150% 0.0002627 154,025.00 2,140,825.00 1,197 1/18/2018 9/21/2022 CN NOVARTIS CAPITAL CORP 2.4% MAKEWHOLD 1,500,000.00 1,489,500.00 2.560% 0.0002345 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% 0.0002978 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% 0.0003663 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% 0.0002940 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% 0.0004927 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% 0.0005073 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% 0.0001876 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% 0.0003319 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% 0.0003928 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% 0.0001869 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% 0.0001969 141,054.17 1,110,854.17 1,575 5/16/2019 4/28/2023 CN BANK OF NY MELLON 3.5% BULLET 2,000,000.00 2,061 ,800.00 2.670% 0.0003385 214,700.00 2,276,500.00 1,443 5/2/2018 5/1/2023 CN COLGATE-PALMOLIVE 2.10% MAKE WHOLE 4,666,000.00 4,443,179.84 3.140% 0.0008579 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% 0.0007482 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% 0.0003493 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% 0.0002994 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% 0.0001746 122,665.56 1,147,805.56 1,588 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% 0.0002595 210,756.94 1,462,381.94 1,826 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% 0.0001960 143,000.00 1,153,000.00 1,642 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% 0.0003291 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% 0.0005204 32,347.22 2,521,597.22 1,686 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% 0.0003827 276,038.89 2,316,738.89 1,628 10/1/2018 8/14/2023 CN WELLS FARGO BANK 3.55% MAKE WHOLE 1,500,000.00 1,500,000.00 3.550% 0.0003275 259,297.92 1,759,297.92 1,778 Page 7 6/13/2019 July 16, 2019 Item #1 Page 20 of 25 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MAY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 1/28/2019 12/5/2023 CN JOHNSON & JOHNSON 3.375% NON CALL 1,500,000.00 1,541,250.00 2.765% 0.0002621 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% 0.0001846 144,144.72 1,162,009.72 1,768 5/16/2019 1/23/2024 CN CITIBANK NA 3.65% MAKE WHOLE 1,000,000.00 1,034,870.00 2.836% 0.0001805 136,173.06 1,171,043.06 1,713 SUB-TOTAL CN 162,239,000.00 162,619,252.12 2.321% 15,972,170.60 178,591,422.72 1,566 7/15/2015 7/15/2019 CD CAPTIAL ONE 1.95% NON-CALL 249,000.00 249,000.00 1.950% 0.0002624 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% 0.0002670 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% 0.0002737 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% 0.0002803 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% 0.0001608 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% 0.0001742 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% 0.0002870 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% 0.0002870 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% 0.0002803 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% 0.0002655 26,058.50 271,700.00 1,826 10/29/2014 10/29/2019 CD PEOPL_ES UTD BANK CT 1.9% 247,000.00 247,000.00 1.900% 0.0002536 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% 0.0002536 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% 0.0002937 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% 0.0002937 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% 0.0002870 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% 0.0002937 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% 0.0002803 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% 0.0002536 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% 0.0002422 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% 0.0002221 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% 0.0002870 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% 0.0002221 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% 0.0002203 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% 0.0002336 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% 0.0002136 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% 0.0002162 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% 0.0002535 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% 0.0002759 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% 0.0002692 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% 0.0002470 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% 0.0002670 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% 0.0002564 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% 0.0002949 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% 0.0002692 24,818.14 273,818.14 1,821 12/14/2017 12/14/2020 CD ALLY BANK 2.10% 247,000.00 247,000.00 2.100% 0.0002803 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% 0.0002490 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% 0.0003835 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% 0.0002221 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% 0.0003989 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% 0.0002557 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% 0.0002011 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% 0.0002011 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% 0.0002346 21 ,700.00 269,700.00 1,826 Page 8 6/13/2019 July 16, 2019 Item #1 Page 21 of 25 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF MAY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN ~ 9/21/2017 9/21/2021 CD PINACLE BANK TN 2.00% 249,000.00 249,000.00 2.000% 0.0002692 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% 0.0003058 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% 0.0002759 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% 0.0002759 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% 0.0003789 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% 0.0002803 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% 0.0002781 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% 0.0002937 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% 0.0002826 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% 0.0002893 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% 0.0002870 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% 0.0002870 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% 0.0003364 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% 0.0004122 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% 0.0003705 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% 0.0003989 36,900.00 282,900.00 1,826 5/8/2019 5/8/2023 CD BANK3 2.5% NON-CALL 249,000.00 249,000.00 2.336% 0.0003144 24,900.00 273,900.00 1,461 5/16/2018 5/16/2023 CD BELMONT SAVINGS BANK 3.05% 245,000.00 245,000.00 3.050% 0.0004039 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% 0.0004239 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% 0.0004374 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% 0.0004239 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% 0.0004171 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% 0.0004370 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% 0.0004508 41,707.50 290,707.50 1,826 11/15/2018 10/30/2023 CD NATIONAL COOPERATIVE BANK 3.45% NON-CJ 245,000.00 245,000.00 3.450% 0.0004568 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% 0.0004635 42,875.00 287,875.00 1,826 11/15/2018 11/15/2023 CD MORGAN STANLEY PVT BANK 3.55% NON-CAL 245,000.00 245,000.00 3.550% 0.0004701 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% 0.0004767 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% 0.0004171 38,587.50 283,587.50 1,815 5/16/2019 5/16/2024 CD ENTERPRISE BANK/PA 2.6% NON-CALL 246,000.00 246,000.00 2.600% 0.0003457 31,980.00 277,980.00 1,827 5/24/2019 5i24/2024 CD EAGLE BANK 2.5% BULLET 249,000.00 249,000.00 2.500% 0.0003364 31 ,125.00 280,125.00 1,827 2/13/2019 8/14/2023 CD FIRST MISSOURI STATE BANK 2.85% BULLET 246,000.00 246,000.00 2.850% 0.0003789 ~1,549.50 277,549.50 1,643 SUB-TOTAL CD 18,506,000.00 18,502,316.70 2.136% 1,971,346.13 20,473,662.83 1,694 10152 0 WELLS FARGO BANK -General Fund 231,000.00 231,000.00 2.000% 0.0000361 12.66 231 ,012.66 10151 0 CORPORATE CASH MANAGEMENT ACCOUNT 5,740,728.53 5,740,728.53 2.000% 0.0008970 314.56 5,741,043.09 11880 0 WELLS FARGO CUSTODY 2,754,746.04 2,754,746.04 0.950% 0.0002045 72.69 2,754,818.73 10047 0 LA IF WATER DISTRICT 33,200,449.12 33,200,449.12 2.445% 0.0063419 2,254.86 33,202,703.98 10045 0 LA I F PUBLIC IMPROVEMENT CORPORATION 19,658,951.62 19,658,951.62 2.445% 0.0037552 1,335.17 19,660,286.79 10391 0 LA IF PUBLIC FINANCING CORPORATION 24,068,382.30 24,068,382.30 2.445% 0.0045975 1,634.64 24,070,016.94 10046 0 LA I F CITY OF CARLSBAD 42,344,108.83 42,344,108.83 2.445% 0.0080885 2,875.87 42,346,984.70 SUB-TOTAL 127,998,366.44 127,998,366.44 2.392% 8,500.46 128,006,866.90 GRAND TOTAL 811,761,366.44 811,339,035.15 1.962% 58,472,402.82 850,283,632.08 Page 9 6/13/2019 July 16, 2019 Item #1 Page 22 of 25 CITY OF CARLSBAD Fund Equity in Pooled Investments As of May 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 Grants, Other Subtotal Enterprise: Carlsbad Municipal Water District Sewer Fund Solid Waste Storm Water Golf Course Internal Service Trust and Agency Subtotal Total General Ledger Balance** Reconciling Adjustments (1) 43,141,958 23,502,722 27,770,263 11,726,497 7,213,865 5,944,171 106,598,586 119,197,678 14,450,368 (3,171) 140,309,370 48,691,370 6,819,561 7,807,943 1,319,263 Total Treasurer's Investment Portfolio at Amortized Cost 148,908,831 35,663,040 359,542,938 204,947,508 48,034,835 15,689,273 812,786,426 (1,658,667) 811,127,759 EXHIBIT 8 (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. July 16, 2019 Item #1 Page 23 of 25 CITY OF CARLSBAD INVESTMENT PORTFOLIO Corporate Note and Commerical Paper Ratings As of May 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/Negative ALPHABET, INC Aa2 AA+ Stable APPLE INC Aa1 AA+ Stable AUTOMATIC DATA PROCESSIN Aa3 AA Stable BANK OF NY MELLON CORP A1 A AA-Stable BERKSHIRE HATHWAY Aa2 AA AA-Stable BLACKROCKINC Aa3 AA-Stable CHEVRON CORP Aa2 AA Stable CITIBANK Aa3 A+ A+ 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 AM AM Stable MICROSOFT Aaa AM AA+ Stable NEW YORK LIFE Aaa AA+ AM 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 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 Purchased 01/10/2018 11/07/2016 Outlook Stable Negative * 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 Value Value 2,526,230 2,496,115 4,678,722 4,636,141 July 16, 2019 Item #1 Page 24 of 25 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of May 31, 2019 Corporate and Federal Agency Issuers -Percent of Total Portfolio Corporate Notes -Percent of Total Portfolio Percent of Investment Cost Portfolio {*l ADP $ 4,029,600 0.50% ALPHABET, INC $ 5,364,100 0.66% APPLE INC $ 13,706,650 1.69% BERKSHIRE HATHAWAY $ 8,312,201 1.02% BLACKROCK INC $ 1,011 ,600 0.12% BANK OF NEW YOK MELON $ 2,061 ,800 0.25% CHEVRON $ 14,307,799 1.76% CITIBANK $ 1,034,870 0.13% COCA COLA CO $ 5,131,236 0.63% COLGATE-PALMOLIVE $ 10,632,541 1.31% EXXON MOBIL $ 10,138,030 1.25% IBM CORP $ 2,555,600 0.31% JOHNSON & JOHNSON $ 6,151,316 0.76% MICROSOFT $ 17,196,798 2.12% 3M COMPANY $ 3,554,215 0.44% NEW YORK LIFE $ 4,017,520 0.50% NOVARTIS CAPTIAL CORP $ 1,489,500 0.18% PROCTER & GAMBLE $ 7,594,689 0.94% · TOYOTA $ 19,340,235 2.38% US BANK $ 6,585,975 0.81% WALMART $ 10,379,828 1.28% WELLS FARGO BANK $ 8,023,150 0.99% Federal Agencies -Percent of Total Portfolio Percent of Investment Cost Portfolio !**l FAMCA $ 19,485,053 2.40% FICO $ 4,961,759 0.61% FEDERAL FARM CREDIT BANK $ 90,673,261 11.18% FEDERAL HOME LOAN BANK $ 95,817,847 11.81% FEDERAL HOME LOAN MORTGAGE CORP $ 113,633,675 14.01% FEDERAL NATIONAL MORTGAGE ASSOC $ 61,935,762 7.63% PEFCO $ 5,716,571 0.70% RFCO STRIP PRINCIPAL $ 2,750,760 0.34% TENNESSEE VALLEY AUTHORITY $ 7,496,748 0.92% SUPRANATIONAL -IBRD $ 19,527,806 2.41% U.S.TREASURY $ 80,219,858 9.89% Total Portfolio $ 811,339,035.15 * No more than 5% may be invested with a single corporate issuer. **There are no percentage limits on federal agency issuers. EXHIBIT 10 Available to Purchase $ 36,537,352 $ 35,202,852 $ 26,860,302 $ 32,254,751 $ 39,555,352 $ 38,505,152 $ 26,259,153 $ 39,532,082 $ 35,435,716 $ 29,934,411 $ 30,428,922 $ 38,011,352 $ 34,415,636 $ 23,370,154 $ 37,012,737 $ 36,549,432 $ 39,077,452 $ 32,972,263 $ 21 ,226,717 $ 33,980,977 $ 30,187,124 $ 32,543,802 July 16, 2019 Item #1 Page 25 of 25