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HomeMy WebLinkAbout2019-08-20; City Council; ; Report on City Investments as of June 30, 2019CITY COUNCIL Staff Report Meeting Date August 20, 2019 To: From: Staff Contact: Mayor and Council Members Scott Chadwick, City Manager Craig Lindholm, City Treasurer CA Review VJ{,, Laura Rocha, Deputy City Manager -Administrative Services, Laura .Rocha@carlsbadca.gov or 760-602-2415 Subject: Report on City Investments as of June 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 June 30, 2019 is summarized below. I Pooled Investment Portfolio (Cash and Securities} Current Month Prior Month Par Value $794,156,136 $811,761,366 Cost of Investments $793,834,043 $811,339,035 Amortized Cost (1) $793,677,497 $811,127,759 Market Value (2) $796,915,076 $812,446,598 (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 June 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 August 20, 2019 Item #1 Page 1 of 28 Fund Equity in Pooled Investments · June 30, 2019 (in millions) Internal Service, $ l Agency/Trust,_____ 49 / $20 ----- Enterpris,e,_, $204 Special Revenue,$36 Capital ----__ Projects, $358 Total Fund Equity= $794 million Pooled Investment Interest Income Current Month(*) Prior Month(*) Current Month Cash Income Fiscal Year-to-Date * $14,837,962 $13,845,082 $992,880 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement Average Life Average Yield Modified Duration (Years) To Maturity (Years) April 2019 1.88 1.982% 1.787 May 2019 1.89 1.962% 1.806 June 2019 1.88 1.950% 1.789 August 20, 2019 Item #1 Page 2 of 28 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 printipal is considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. The pooled investment portfolio has the ability to meet the city's cash flow demands for the next six (6) months. Fiscal Analysis None Next Steps The Report on City Investments is produced monthly by the City Treasurer. Environmental Evaluation (CEQA) Pursuant to Public Resources Code section 21065, this action does not constitute a "project" within the meaning of CEQA in that it has no potential to cause either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, and therefore does not require environmental review. Public Notification This item was noticed in accordance with the Ralph M. Brown Act and was available for viewing at least 72 hours prior to the posting of the agenda. Exhibits 1. Investment Portfolio Breakdown by Amortized Cost, Market Value, Cash Income, and Average Yield 2. Investment Portfolio Breakdown of Maturities 3. Yield Comparison Graph 4. Market Yield Curve 5. Cumulative Cash Income Graph 6. Fourth Quarter Maturities, Purchases and Calls 7. Detailed Investment Report 8. Fund Equity in Pooled Investments 9. Corporate Note and Commercial Paper Ratings August 20, 2019 Item #1 Page 3 of 28 10. Percentage Weightings by Corporate Note Issuer 11. Investments of Bond Proceeds Held Separately as of June 30, 2019 12. Summary of Outstanding Housing Loans August 20, 2019 Item #1 Page 4 of 28 CLASS CD FN TR FA SN CN LAIF CUSTODY SWEEP BANK ACCT TOTALS % TOTALS CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JUNE 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 4,200,681 2,427,431 12,179,591 $18,807,702 10,439,252 0 2,922,810 13,362,062 4,760,187 7,217,431 68,334,308 80,311,926 37,344,638 . 58,490,919 281,903,112 377,738,668 0 0 19,708,301 19,708,301 15,044,378 17,262,020 131,665,883 163,972,281 113,871,892 0 0 113,871,892 3,412,665 0 0 3,412,665 5,413,961 0 0 5,413,961 315,618 0 0 315,618 $194,803,271 (1) $85,397,800 (1) $516,714,005 $796,915,076 24.4% 10.7% 64.8% 100.0% .% TOTAL 2.4% 1.7% 10.1% 47.4% 2.5% 20.6% (2) 14.3% 0.4% 0.7% 0.0% 100.0% Total within One Year $280,201,071 (1) POLICY: 35.2% (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 C::J =i N August 20, 2019 Item #1 Page 6 of 28 Percent 2.60 YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF (yield with and without LAIF) July 2012 -June 2019 2.40 -,y, 2.20 2.00 1.80 1.60 1.40 I ---~ ' ~ ...,,,.. .... ,,.,,,,,., .. ,,, ... ~, 1.20 +:t::1 1 I I 1...-"~ 1.00 1 , t-x-1 Alt-1 r 0.80 I I _._1 An: ~ 0.60 0 40 ~ ,rv" 0: 2 0 ;;;ISIOIOIOl€JIGi()l8101()jfllditl10181(llOIOIOIO,)'@IO~ 0.00 _, "'-'b ~ _, "'-~ ~ ~ "'-~ ~ ~ "'-<o ~ _, "'-~~_,"'-Cb~_,"'-~~ ')~....,o" ~...._ ~q ')~"o" ~"' ~q ')-so"~" ~q ')-so"~~ ~q ')~"o" ~...._ ~q ')~"o" ~"' ~q ')~"o" ~" ~q m >< I OJ --i w August 20, 2019 Item #1 Page 7 of 28 Market Rates MARKET YIELD .CURVE 6/30/17, 6/30/18, 6/30/19 3.50 3.00 2.50 I • ---------•------ 1.50 1.00 -------------..... ----- ~ ..... -- __ .. __________ _ 0.50 l__ ______ ~----- l__ ___ ----i----~-~-~ 0.00 3 Mth I 2 Yr 5 Yr 10 Yr 3 Mth 2 Yr 5 Yr 10 Yr -------i ---6/30/2017 1.01 1.38 1.88 2.30 ..... 6/30/2018 1.91 2.53 2.74 2.86 -.. ·6/30/2019 2.23 1.88 1.87 2.13 m X I -OJ -I ~ August 20, 2019 Item #1 Page 8 of 28 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: 07/09/2019 -11:20 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 m >< Portfolio CARjL ~ AP m -I Ml (PRF _Ml) 7.~.1 Report Ver. 7.3 .. 1 O') August 20, 2019 Item #1 Page 10 of 28 City of Carlsbad Purchases Report Sorted by Fund -Fund April 1, 2019 -June 30, 2019 Sec. Original Purchase CUSIP Investment# Fund Type Issuer Par Value Date Payment General Fund 3130ACH72 12026 100 FAC FHLB 1,000,000.00 04/10/2019 10/04-04/04 3134GTAC7 12024 100 FAG FHLMC 2,000,000.00 04/11/2019 09/27 -03/27 3133EKGD2 12025 100 FAG FFCB 2,000,000.00 04/12/2019 10/05 -04/05 3133EKFK7 12027 100 FAG FFCB 2,000,000.00 04/12/2019 07/05-Final Pmt. 3130AGAA3 12022 100 FAC FHLB 2,000,000.00 04/15/2019 10/15 -04/15 3134GTGZO 12029 100 FAC FHLMC 1,000,000.00 04/15/2019 10/15 -04/15 3134GTGZO 12030 100 FAG FHLMC 2,000,000.00 04/15/2019 10/15 -04/15 3135GOU43 12032" 100 FAC FNMA 1,750,000.00 04/18/2019 09/12 -03/12 3134GTEW9 12033 100 FAC FHLMC 1,500,000.00 04/23/2019 10/08 -04/08 912828W55 12034 100 TRC USTR 1,500,000.00 04/23/2019 08/31 -02/29 3134GTHH9 12028 100 FAC FHLMC 2,000,000.00 04/24/2019 07124 -01/24 3134GTGT4 12031 100 FAC FHLMC 1,750,000.00 04/24/2019 07/24 -01/24 742718EU9 12035 100 MTN PG 2,000,000.00 05/02/2019 08/11 -02/11 3134GBS86 12036 100 FAC FHLMC 1,500,000.00 05/06/2019 10/16 -04/16 06653LAEO 12048 100 BCD FARMER 249,000.00 05/08/2019 06/08 -Monthly 3133EKKU9 12042 100 FAC FFCB 2,000',000.00 05/09/2019 11/08 -05/08 3133EDBU5 12043 100 FAC Fi=CB 1,000,000.00 05/09/2019 . 06/20 -12120 3130AGEF8 12041 100 FAC FHLB 1,000,000.00 05/09/2019 11/07 -05/07 3130AGDU6 12045 100 FAC FHLB 3,000,000.00 05/09/2019 11/08 -05/08 4581XOXXO 12044 100 MC3 IADB 2,000,000.00 05/09/2019 11/07 -05/07 06406RAG2 12055 100 MTN BNYME 2,000,000.00 05/16/2019 10/28 -04/28 17325FAS7 12050 100 MTN CITIBA 1,000,000.00 05/16/2019 07/23 -01/23 29367RKT2 12049 100 BCD ENTBK 246,000.00 05/16/2019 11/16 -05/16 3134GTMR1 12038 100 FAG FHLMC 2,500,000.00 05/20/2019 11/20 -05/20 3134GTNE9 12039 100 FAC FHLMC 5,000,000.00 05/22/2019 10/28 -04/28 27002YEN2 12052 100 BCD EAGLE 249,000.00 05/24/2019 06/24 -Monthly 31331KZ78 12059 100 FAC FFCB 1,500,000.00 06/28/2019 12/05 -06/05 3134GTTX1 12060 100 FAC FHLMC 2,790,000.00 06/28/2019 12/20 -06/20 3134GTYC1 12061 100 FAC FHLMC 3,000,000.00 06/28/2019 12/26 -06/26 336460CQ1 12058 100 BCD FIRSTD . 24Q,OOO.OO 06/28/2019 06/28 -Final Pmt. 742651DP4 12062 100 FAG PEFCO 2,500,000.00 06/28/2019 07/15 -01/15 Received = Accrued Interest at Purchase was received by report ending date. Run Date: 07/09/2019 -11 :20 Principal Accrued Rate at Purchase at Purchase Purchas 995,340.00 376.67 2.260 2,004,000.00 2,201.11 2.830 1,994,380.00 894.44 2.300 1,999,600.00 1,011.11 2.600 2,000,000.00 2.450 1,000,000.00 2:500 2,000,000.00 2.500 1,783,757.50 -5,031.25 2.875 1,500,000.00 1,562.50 2.500 1,481,015.63' 4,127.04 1.875 2,000,000.00 2.500 1,750,000.00 2.550 1,986,800.00 9,675.00 2.150 1,488,345.00 1,541.67 1.850 249,000.00 2.500 2,001,700.00 127.78 2.300 1,052,900.00 Received 3.500 1,005,320.00 133.33 2.400 2,998,800.00 227.50 2.730 2,058,280.00 5,833.33 3.000 2,061,800.00 3,500.00 3.500 1,034,870.00 11,456.94 3.650 246,000.00 2.600 2,500,000.00 2.700 5,000,000.00 2.625 249,000.00 2.500 1,569,280.50 2,836.67 2.960 2,790,000.00 1,395.00 2.250 3,000,000.00 2.050 249,000.00 2.300 2,565,850.00 27,732.64 2.450 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 12/05/2023 1.870 06/20/2024 2.250 06/26/2023 2.050 06/28/2024 2.300 07/15/2024 1.900 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 1,569,150.36 2,790,000.00 3,000,000.00 249,000.00 2,565,741.28 Portfolio CARL AP PU (PRF _PU) 7.1.1 Report Ver. 7.3.6.1 August 20, 2019 Item #1 Page 11 of 28 Sec. CUSIP Investment# Fund Type Issuer. Subtotal Total Purchases Run Date: 07/09/2019-11:20 City of Carlsbad Purchases Report April 1, 2019 -June 30, 2019 Original Purchase Par Value Date Payment 54,283,000.00 54,283,000.00 Principal Purchase 54,615,038.63 54,615,038.63 Accrued Rate at at Purchase Purchas 79,663.98 79,663.98 Maturity Date YTM Page 2 Ending Book Value 54,610,118.09 54,610,118.09 Portfolio CARL AP PU (PRF _PU) 7.1.1 Report Ver. 7.3.6.1 August 20, 2019 Item #1 Page 12 of 28 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. atRedem. 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 0.00 2,550,000.00 169.06 FAC 06/08/202 Call Subtotal 2,550,000.00 2,549,830.94 2,550,000.00 0.00 2,550,000.00 169.06 04/26/2021 3130AE4H0 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 3134GSDX0 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 2.850 1,000,000.00 1,000,000.00 0.00 1,000,000.00 0.00 FAC 02/28/202 Call Subtotal 2,250,000,00 2,250,000.00 2,250,000.00 7,812.50 2,257,812.50 7,812.50 V -Security with variable rate change. Portfolio CARL AP Run Date: 07/09/2019-11:21 SA (PRF_SA) 7.1.1 Report Ver. 7.3.6.1 August 20, 2019 Item #1 Page 13 of 28 City of Carlsbad Sales/Call Report April 1, 2019 -June 30, 2019 Issuer Purchase Redem. Date Par Rate at CUSIP Investment# Fund Sec. Type Date Matur. Date Value Redem. 04/25/2023 3133EJMCO 11897 100 FFCB 05/04/201 04/25/201 2,500,000.00 3.000 FAC 04/25/202 Subtotal 2,500,000.00 04/27/2023 3134GSJCO 11892 100 FHLMC 04/27/201 04/27/201 2,000,000.00 3.050 FAC 04/27/202 3134GSJCO 11894 100 FHLMC 05/04/201 04/27/201 2,415,000.00 3.050 FAC 04/27/202 Subtotal 4,415,000.00 06/27/2023 31 33EJSY6 11916 100 FFCB 07/24/201 06/27/201 1,000,000.00 3.200 FAG 06/27/202 Subtotal 1,000,000.00 06/28/2023 3134GSQB4 11923 100 FHLMC 08/03/201 06/28/201 2,000,000.00 3.250 FAC 06/28/202 Subtotal 2,000,000.00 12/18/2023 3134GSF26 11964 100 FHLMC 12/18/201 06/18/201 1,500;000·.oo 3.500 FAG 12/18/202 Subtotal 1,500,000.00 03/18/2024 3133EKDL7 12012 100 FFCB 03/18/201 06/18/201 2,000,000.00 2.940 FAC 03/18/202 Subtotal 2,000,000.00 Total Sales 26,515,000.00 Run Date: 07109/2019 -11 :21 Book Value Redemption Redemption atRedem. Principal Interest 2,497,361.81 2,500,000.00 37,500.00 2,497,361.81 2,500,000.00 37,500.00 2,000,000.00 2,000,000.00 30,500.00 2,413,060.46 2,415,000.00 36,828.75 4,413,060.46 4,415,000.00 67,328.75 999,593.91 1,000,000.00 16,000.00 999,593.91 1,000,000.00 16,000.00 1,999,184.14 2,000,000.00 32,500.00 1,999,184.14 2,000,000.00 32,500.00 1,500,000.00 1,500,000.00 26,250.00 1,500,000.00 1,500,000.00 26,250.00 2,000,000.00 2,000,000.00 14,700.00 2,000,000.00 2,000,000.00 14,700.00 26,502,010.06 26,515,000.00 268,458.69 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 1,016,000.00 Call 1,016,000.00 2,032,500.00 Call 2,032,500.00 1,526,250.00 Call 1,526,250.00 2,014,700.00 Call 2,014,700.00 26,783,458.69 Page 2 Net Income 40,138.19 40,138.19 30,500.00 38,768.29 69,268.29 16,406.09 16,406.09 33,315.86 33,315.86 26,250.00 26,250.00 14,700.00 14,700.00 281,448.63 Portfolio CARL AP SA (PRF_SA) 7.1.1 Report Ver. 7.3.6.1 August 20, 2019 Item #1 Page 14 of 28 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JUNE 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN ~ 1/23/2015 7/17/2019 FA FFCB 2.15% NON-CALL 3,250,000.00 3,354,097.50 1.410% 0.0001254 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% 0.0000640 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% 0.0000709 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% 0.0000863 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% 0.0000861 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% 0.0000636 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% 0.0000660 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% 0.0000727 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% 0.0000380 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% 0.0001004 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% 0.0001380 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% 0.0001379 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% 0.0001563 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% 0.0000407 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% 0.0000971 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% 0.0001181 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% 0.0000486 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% 0.0001314 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% 0.0001543 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% 0.0000948 134,062.50 2,884,062.50 1,371 6/11/2018 2/14/2020 FA FHLB 2.15% CALL 2/14/19 QRTL Y 1,500,000.00 1,491 ,780.00 2.485% 0.0000983 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% 0.0000696 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% 0.0000371 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% 0.0000844 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% 0.0001116 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% 0.0001122 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% 0.0000831 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% 0.0000825 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% 0.0000890 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% 0.0001657 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% 0.0000435 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% 0.0000789 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% 0.0001243 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% 0.0000744 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% 0.0000517 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% 0.0000926 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% 0.0000654 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% 0.0000552 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% 0.0001061 120,000.00 2,620,000.00 1,093 6/12/2015 6/12/2020 FA FHLB 1.75% NON-CALL 3,000,000.00 3,000,000.00 1.750% 0.0001392 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 % 0.0000688 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% 0.0000710 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% 0.0001341 202,300.00 4,452,300.00 1,461 m 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% 0.0001284 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% 0.0000721 88,400.00 1,688,400.00 1,187 :c 1/21/2016 7/29/2020 FA FHLB 1.83% NON-CALL 2,500,000.00 2,549,375.00 1.378% 0.0000932 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% 0.0001061 158,710.00 3,156,970.00 1,447 m -4/19/2016 8/28/2020 FA FHLMC 1.65% NON-CALL 1,000,000.00 1,017,760.00 1.230% 0.0000332 54,152.50 1,071 ,912.50 1,592 -i 6/8/2016 9/11 /2020 FA FHLB 2.875% NON-CALL 3,000,000.00 3,206,160.00 1.214% 0.0001032 161,121 .25 3,367,281 .25 1,556 ...., Page 1 7/9/2019 August 20, 2019 Item #1 Page 15 of 28 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JUNE 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days\ 10/12/2016 9/11/2020 FA FHLB 1.375% NON-CALL 1,800,000.00 1,808,975.18 1.244% 0.0000597 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% 0.0001159 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% 0.0000674 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% 0.0000572 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% 0.0000947 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% 0.0001179 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% 0.0001025 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% 0.0000746 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% 0.0000481 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% 0.0000919 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% 0.0000822 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% 0.0000862 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% 0.0001395 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% 0.0001299 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% 0.0000830 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% 0.0001205 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% 0.0000928 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% 0.0000739 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% 0.0001038 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% 0.0000724 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% 0.0000557 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% 0.0000215 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% 0.0000938 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% 0.0000681 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% 0.0001239 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% 0.0001326 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% 0.0001204 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% 0.0001018 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% 0.0000976 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% 0.0001405 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% 0.0001774 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% 0.0001242 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% 0.0000567 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% 0.0000845 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% 0.0000668 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% 0.0000872 155,~06.25 2,632,656.25 1,722 1/11/201.9 7/19/2021 FA FHLMC 1.5% QTL Y CALL 1 /19/19 2,000,000.00 1,976,000.00 2.776% 0.0001455 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% 0.0000739 124,086.67 1,516,666.67 1,621 4/24/2018 7/27/2021 FA FHLB 1.0% CALL 7/27/18 QRTL Y 1,400,000.00 1,358,518.00 2.743% 0.0000988 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% 0.0001561 224,666.67 3,229,166.67 1,394 11/17/2016 7/28/2021 FA FNMA 1.00% CALL 1/28/17 QRTL Y CALL STEP 2,600,000.00 2,596,100.00 2.079% 0.0001431 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% 0.0000526 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% 0.0000703 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% 0.0001385 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% 0.0001014 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% 0.0001526 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% 0.0000958 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% 0.0001183 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% 0.0001680 181,440.00 2,186,440.00 1,078 Page 2 7/9/2019 August 20, 2019 Item #1 Page 16 of 28 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JUNE 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN /Days) 11/29/2016 11/29/2021 FA FFCB 1.76% NON-CALL 3,000,000.00 3,000,000.00 1.760% 0.0001400 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% 0.0000974 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% 0.0001822 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% 0.0000855 107,696.18 1,363,633.68 1,088 4/1 1/2019 1/24/2022 FA FHLMC 2.5% CALL ONE TIME 1/24/20 2,000,000.00 2,000,000.00 2.501 % 0.0001326 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% 0.0001491 161 ,019.44 2,644,919.44 1,046 2/23/2017 2/23/2022 FA FAMCA 2.1 % NON-CALL 2,600,000.00 2,609,204.00 2.025% 0.0001401 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% 0.0001045 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% 0.0001352 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% 0.0000901 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% 0.0000717 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% 0.0000792 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% 0.0000995 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% 0.0001 163 186,446.67 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% 0.0001070 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% 0.0002205 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% 0.0000821 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% 0.0001186 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% 0.0000667 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% 0.0000702 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% 0.0000505 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% 0.0000837 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% 0.0001425 268,750.00 2,768,750.00 1,826 12/1 9/2017 6/29/2022 FA FHLMC 2.15% QRTL Y CALL 1,500,000.00 1,494,000.00 2.243% 0.0000889 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% 0.0000883 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% 0.0001382 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 % 0.0000755 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% 0.0000798 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% 0.0001394 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% 0.0000983 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% 0.0000712 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% 0.0000709 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% 0.0001326 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% 0.0000634 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% 0.0000515 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% 0.0000766 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% 0.0000923 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% 0.0002018 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% 0.0001525 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% 0.0001469 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% 0.0001830 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% 0.0001326 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% 0.0001184 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% 0.0001501 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% 0.0002056 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 % 0.0001871 343,781.25 2,818,281 .25 1,773 3/22/2019 3/10/2023 FA FHLB 2.75% BULLET 2,000,000.00 2,028,220.00 2.375% 0.0001277 189,946.67 2,218,166.67 1,449 4/10/201 9 3/27/2023 FA FHLMC 2.83% CALL QUARTERLY 9/27/19 2,000,000.00 2,004,000.00 2.776% 0.0001475 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% 0.0003481 516,250.00 5,516,250.00 1,437 Page 3 7/9/2019 August 20, 2019 Item #1 Page 17 of 28 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JUNE 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days) 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% 0.0001011 190,625.00 1,440,625.00 1,848 6/28/2019 6/26/2023 FA FHLMC 2.05% CALL 6/26/20 ONE CALL 3,000,000.00 3,000,000.00 2.050% 0.0001631 246,000.00 3,246,000.00 1,459 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% 0.0000822 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% 0.0001288 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% 0.0002035 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% 0.0001135 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% 0.0001106 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% 0.0001450 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% 0.0000786 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% 0.0001878 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% 0.0000672 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% 0.0001140 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% 0.0000815 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% 0.0001061 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% 0.0002016 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% 0.0000886 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% 0.0001050 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% 0.0000702 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% 0.0001210 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% 0.0002399 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% 0.0001599 301,500.00 2,101,500.00 1,826 6/28/2019 12/5/2023 FA FFCB 2.96% BULLET 1,500,000.00 1,569,280.50 1.870% 0.0000778 127,682.83 1,696,963.33 1,621 12/18/2018 12/18/2023 FA FHLB 3.050% CALL 12/18/19 1,750,000.00 1,750,000.00 3.050% 0.0001415 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% 0.0000977 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% 0.0001644 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% 0.0001397 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% 0.0001138 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% 0.0002022 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% 0.0001856 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% 0.0001037 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% 0.0002080 386,649.00 3,487,500.00 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% 0.0001559 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% 0.0001248 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% 0.0001454 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% 0.0000740 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% 0.0001480 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% 0.0000610 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% 0.0002178 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% 0.0001790 337,500.00 2,837,500.00 1,827 6/26/2019 6/20/2024 FA FHLMC 2.25% CALL 12/20/19 2,790,000.00 2,790,000.00 2.249% 0.0001664 312,480.00 3,102,480.00 1,821 6/27/2019 7/15/2024 FA PEFCO 2.45% BULLET 2,500,000.00 2,565,850.00 1.900% 0.0001293 243,292.36 2,809,142.36 1,845 SUB-TOTAL FA 376,608,000.00 377,098,094.65 1.696% 32,310,219.26 409,408,313.91 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 Page 4 7/9/2019 August 20, 2019 Item #1 Page 18 of 28 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JUNE 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days\ 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 390,108,000.00 389,701,673.84 33,206,640.07 422,908,313.91 1,466 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 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 Page 5 7/9/2019 August 20, 2019 Item #1 Page 19 of 28 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JUNE 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN !Days) 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 TOYOTA 2.125% 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 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 Page 6 7/9/2019 August 20, 2019 Item #1 Page 20 of 28 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JUNE 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days} 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 1,547,160.00 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 1/28/2019 1215/2023 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 Page 7 7/9/2019 August 20, 2019 Item #1 Page 21 of 28 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JUNE 30, 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 7/15/2019 CD CAPTIAL ONE 1.95% NON-CALL 249,000.00 249,000.00 1.950% 0.0002589 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% 0.0002634 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% 0.0002700 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% 0.0002766 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% 0.0001587 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% 0.0001719 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% 0.0002832 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% 0.0002832 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% 0.0002766 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% 0.0002620 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% 0.0002503 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% 0.0002503 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% 0.0002898 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% 0.0002898 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% 0.0002832 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% 0.0002898 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% 0.0002766 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% 0.0002503 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% 0.0002390 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% 0.0002191 20,542.50 269,542.50 1,826 1/26/2018 1/27/2020 CD FLAG ST AR BANK 2.15% 247,000.00 247,000.00 2.150% 0.0002832 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% 0.0002191 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% 0.0002173 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% 0.0002305 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% 0.0002108 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% 0.0002133 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% 0.0002502 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% 0.0002722 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% 0.0002656 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% 0.0002437 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% 0.0002634 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% 0.0002530 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% 0.0002910 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% 0.0002656 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% 0.0002766 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% 0.0002457 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% 0.0003785 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% 0.0002191 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% 0.0003936 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% 0.0002523 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% 0.0001984 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% 0.0001984 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% 0.0002315 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% 0.0002656 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% 0.0003017 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% 0.0002722 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% 0.0002722 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% 0.0003739 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% 0.0002766 25,935.00 272,935.00 1,826 Page 8 7/9/2019 August 20, 2019 Item #1 Page 22 of 28 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JUNE 30, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days) 7/31/2017 7/29/2022 CD KS STATE BANK 2.1% 245,000.00 245,000.00 2.100% 0.0002744 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% 0.0002898 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% 0.0002789 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% 0.0002855 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% 0.0002832 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% 0.0002832 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% 0.0003320 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% 0.0004067 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% 0.0003656 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% 0.0003936 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% 0.0003102 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% 0.0003985 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% 0.0004183 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% 0.0004316 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% 0.0004183 40,462.50 289,462.50 1,826 2/13/2019 8/14/2023 CD FIRST MISSOURI STATE BANK 2.85% BULLET 246,000.00 246,000.00 2.850% 0.0003739 31 ,549.50 277,549.50 1,643 9/26/2018 9/26/2023 CD BANK MIDWEST 3.15% NON-CALL 245,000.00 245,000.00 3.150% 0.0004116 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% 0.0004312 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% 0.0004448 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% 0.0004508 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% 0.0004573 42,875.00 287,875.00 1,826 11/15/2018 11/15/2023 CD MORGAN ST AN LEY PVT BANK 3.55% NON-CAL 245,000.00 245,000.00 3.550% 0.0004638 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% 0.0004704 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% 0.00041 16 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% 0.0003411 31,980.00 277,980.00 1,827 5/24/2019 5/24/2024 CD EAGLE BANK 2.5% BULLET 249,000.00 249,000.00 2.500% 0.0003320 31,125.00 280,125.00 1,827 6/28/2019 6/28/2024 CD FIRST STATE BANK DEQUEEN 2.3% BULLET 249,000.00 249,000.00 2.300% 0.0003054 28,635.00 277,635.00 1,827 SUB-TOTAL CD 18,755,000.00 18,751,316.70 2.098% 1,999,981.13 20,751,297.83 1,696 10152 0 WELLS FARGO BANK -General Fund 315,619.00 315,619.00 2.000% 0.0000513 17.29 315,636.29 10151 0 CORPORATE CASH MANAGEMENT ACCOUNT 5,413,961 .04 5,413,961.04 2.000% 0.0008802 296.66 5,414,257.70 11880 0 WELLS FARGO CUSTODY 3,412,664.03 3,412,664.03 0.950% 0.0002635 90.06 3,412,754.09 10047 0 LA I F WATER DISTRICT 35,800,449.12 35,800,449.12 2.449% 0.0071273 2,435.43 35,802,884.55 10045 0 LA I F PUBLIC IMPROVEMENT CORPORATION 19,658,951 .62 19,658,951.62 2.449% 0.0039138 1,337.35 19,660,288.97 10391 0 LA I F PUBLIC FINANCING CORPORATION 24,068,382.30 24,068,382.30 2.449% 0.0047916 1,637.32 24,070,019.62 10046 0 L A I F CITY OF CARLSBAD 34,344,108.83 34,344,108.83 2.449% 0.0068373 2,336.35 34,346,445.18 SUB-TOTAL 123,014,135.94 123,014,135.94 2.387% 8,150.46 123,022,286.40 GRAND TOTAL 794,156,135.94 793,834,042.65 1.950% 57,381,434.87 831,687,671.63 Page 9 7/9/2019 August 20, 2019 Item #1 Page 23 of 28 CITY OF CARLSBAD Fund Equity in Pooled Investments As of June 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 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 42,560,391 23,632,318 27,290,040 11,750,539 7,385,971 5,924,242 106,484,853 118,601,656 14,529,891 138,921,218 49,236,822 6,759,207 7,619,407 1,298,031 126,571,909 35,541 ,311 358,159,900 203,834,685 48,466,269 20,061,960 792,636,035 1,041,462 793,677,497 (1) The Reconciling Adjustments consist of differences between the General Ledger which is prepared on an accrual basis and the Treasurer's report which is prepared on the cash basis. Accrued Interest, amortized premium or discounts and outstanding checks and deposits in transit are not included in the Treasurer's summary. Differences between the time journal entries are posted and the time this report is produced may also be a component of the adjustment. •• Figures based on best estimate at the time report run on 7/10/2019. EXHIBIT 8 August 20, 2019 Item #1 Page 24 of 28 CITY OF CARLSBAD INVESTMENT PORTFOLIO Corporate Note and Commerical Paper Ratings As of June 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/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 BLACKROCK INC 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 Stable/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 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 IBM CORP A1 A A 11/21/2021 WELLS FARGO BANK Aa2 A+ AA-8/14/2023 Purchased 11/07/2016 2/28/2019 Outlook Stable/ Negative Negative/ Stable/Stable • The City's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All of these investments are paying interest at the required times. The principal of all investments are considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. EXHIBIT9 Carrying Market Value Value 2,525,287 2,506,310 8,028,302 8,158,900 August 20, 2019 Item #1 Page 25 of 28 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of June 30, 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 0.51% ALPHABET, INC $ 5,364,100 0.68% APPLE INC $ 13,706,650 1.73% BERKSHIRE HATHAWAY $ 8,312,201 1.05% BLACKROCK INC $ 1,011,600 0.13% BANK OF NEW YOK MELON $ 2,061,800 0.26% CHEVRON $ 14,307,799 1.80% CITIBANK $ 1,034,870 0.13% COCA COLA CO $ 5,131,236 0.65% COLGATE-PALMOLIVE $ 10,632,541 1.34% EXXON MOBIL $ 10,138,030 1.28% IBM CORP $ 2,555,600 0.32% JOHNSON & JOHNSON $ 6,151,316 0.77% MICROSOFT $ 17,196,798 2.17% 3M COMPANY $ 3,554,215 0.45% NEW YORK LIFE $ 4,017,520 0.51% NOVARTIS CAPTIAL CORP $ 1,489,500 0.19% PROCTER & GAMBLE $ 7,594,689 0.96% TOYOTA $ 19,340,235 2.44% US BANK $ 6,585,975 0.83% WALMART $ 10,379,828 1.31% WELLS FARGO BANK $ 8,023,150 1.01% Federal Agencies -Percent of Total Portfolio Percent of Investment Cost Portfolio (**l FAMCA $ 15,391,753 1.94% FICO $ 4,961,759 0.63% FEDERAL FARM CREDIT BANK $ 83,189,439 10.48% FEDERAL HOME LOAN BANK $ 94,817,847 11.94% FEDERAL HOME LOAN MORTGAGE CORP $ 113,375,185 14.28% FEDERAL NATIONAL MORTGAGE ASSOC $ 59,435,762 7.49% PEFCO $ 8,282,421 1.04% RFCO STRIP PRINCIPAL $ 2,750,760 0.35% TENNESSEE VALLEY AUTHORITY $ 7,496,748 0.94% SUPRANATIONAL -IBRD $ 19,527,806 2.46% U.S.TREASURY $ 80,219,858 10.11% Total Portfolio $ 793,834,042.65 • 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 $ 35,662,102 $ 34,327,602 $ 25,985,052 $ 31,379,501 $ 38,680,102 $ 37,629,902 $ 25,383,903 $ 38,656,832 $ 34,560,466 $ 29,059,161 $ 29,553,672 $ 37,136,102 $ 33,540,386 $ 22,494,905 $ 36,137,487 $ 35,674,182 $ 38,202,202 $ 32,097,013 $ 20,351,467 $ 33,105,727 $ 29,311,874 $ 31 ,668,552 August 20, 2019 Item #1 Page 26 of 28 City of Carlsbad Bond Proceeds Investment Report June 30, 2019 Stated Int. Maturity EXHIBIT 11 Fund Type Investments Rate Date Par Value Cost Source Assessment District 03-01 (College/Cannon) Fiscal Agent: BNY Mellon Project Fund Invesco Gov. & Agency -Institutional Money Market NIA NIA $ 967,503 $ 967,503 Invesco Assessment District 96-01 (Rancho Carrillo) Fiscal Agent: BNY Mellon Reserve Fund Repub Nall Bank Repo Agreement: HSBC (GIG) 6.03% 09/02/28 $ 1,292,770 $ 1,292,770 HSBC Bank of New York ReAssessment District 2012-1 (College/Cannon & Poinsettia Lane) Fiscal Agent: BNY Mellon Reserve Fund Invesco Gov. & Agency -Institutional Money Market various N/A $ 2,251,943 $ 2,251,943 BNY Mellon Other Invesco Gov. & Agency -Institutional Money Market various NIA $ 164 $ 164 BNY Mellon Communities Facilities District #3 Improvement Area 1, 2016 Bonds Fiscal Agent: BNY Mellon Reserve Fund Invesco Gov. & Agency -Institutional Money Market various 09/01/36 $ 564,891 $ 564,891 BNY Mellon Other Invesco Gov. & Agency -Institutional Money Market various 09/01/36 $ 1,909 $ 1,909 BNY Mellon Communities Facilities District #3 Improvement Area 2, 2016 Bonds Fiscal Agent: BNY Mellon Reserve Fund Invesco Gov. & Agency -Institutional Money Market various 09/01/38 $ 823,955 $ 823,955 BNY Mellon Other Invesco Gov. & Agency -Institutional Money Market various 09/01/38 $ 14,917 $ 14,917 BNY Mellon $ 5,918,052 $ 5,918,052 August 20, 2019 Item #1 Page 27 of 28 City of Carlsbad Summary of outstanding housing loans -as of June 30, 2019 Loan amount due to City Developer loan First date No. of City to Developers to No. of loans City loan repaid Developer loan (recorded as amount due to City Total due to Borrower Development Purpose issued loans homeowners homeowners outstanding to City repaid to City AR) (not on City's books) City Individual homebuyers City-wide (CHAP) Sale 06/28/99 133 $1 ,680,000 $ 0 ($1 ,680,000) $ ($0) $ (0) Individual homebuyers Calavera Hills Sale 10115/99 5 75,000 150,000 1 (60,000) (120,000) 15,000 30,000 45,000 Individual homebuyers Cherry Tree Walk Sale 06128199 42 453,600 452,600 12 (324,000) (283,250) 129,600 169,350 298,950 Individual homebuyers Serrano Sale 05125101 90 1,350,000 4,050,000 23 (1,050,135) (2,790,000) 299,865 1,260,000 1,559,865 Individual homebuyers Rancho Carlsbad Sale 05120/99 22 752,533 5 (616,633) 135,900 135,900 Individual homebuyers Solamar Sale 09126188 9 147,726 1 (135,065) 12,661 12,661 Catholic Charities Homeless shelter Shelter 09/19197 1 200,000 1 200,000 200,000 CB Laurel Tree Apartments Laurel Tree Rentals 12124198 2 1,134,000 2 (1,134,000) (0) (0) USA Properties c/o CFHP Rancho Carrillo Rentals 03105101 1 1,157,584 1 (1,157,584) (0) (0) Pacific Vista Las Flores Vista Las Flores Rentals 02127101 1 363,948 1 363,948 363,948 Poinsettia Housing Assoc Poinsettia Station Rentals 10121199 1 920,000 1 (690,529) 229,471 229,471 Bridge Housing Corp Villa Loma Rentals 11104194 2 2,212,000 0 (2,212,000) Dove Family Housing La Costa Paloma Rentals 07115103 1 2,070,000 1 (2,070,000) (0) (0) CIC Calavera LP Mariposa Apts Rentals 09115104 1 1,060,000 1 1,060,000 1,060,000 Individual homebuyers Mulberry at Sale 04129105 100 1,840,000 19,660,2!)0 100 1,840,000 19,660,200 21 ,500,200 Bressi Ranch Individual homebuyers Village by the Sea Sale 10128105 11 220,000 4,087,200 11 220,000 4,087,200 4,307,200 El Camino Family Housing Cassia Heights Rentals 03107106 1 1,454,276 1 (1,454,276) Individual homebuyers Laguna Point Sale 07106106 3 210,000 2 (70,000) 140,000 140,000 Individual homebuyers The Bluffs Sale 06114107 10 200,000 10 200,000 200,000 Individual homebuyers Roosevelt Gardens Sale 08130107 11 1,583,423 11 1,583,423 1,583,423 CIC La Costa Hunter's Point Rentals 08119/08 1 1,932,000 1 1,932,000 1,932,000 Down Payment & Closing Cost Various Assistance Assistance 06125109 22 255,518 20 (31,900) 223,618 223,618 CIC Glen Ridge, LP Glen Ridge Rentals 10/05109 1 1,014,000 1 1,014,000 1,014,000 Tavarua Senior Apartments, LP Tavarua Rentals 12114111 North County Solutions for Property Acquisition Rentals 06128112 1 780,000 1 780,000 780,000 ChanQe Catholic Charities Homeless shelter Shelter 03101/10 3 507,585 3 507,585 507,585 Individual homeowners NIA Minor Home 05120110 12 30,677 6 (4,083) 26,594 26,594 Repair Hospice of North Coast NIA Property 02127113 1 1,065,000 1 1,065,000 1,065,000 Acquisition Harding Street Neighbors, LP Carol-Harding Duplex Property 03114113 1 7,408,000 1 7,408,000 7,408,000 Acquisition Tracy Templeton Laguna Point Sale 04117113 1 108,150 1 108,150 108,150 Thomas & Judy Kim Rose Bay Sale 08123113 1 229,775 1 229,775 229,775 Solutions for Change NIA Property 12119114 1 2,646,000 1 2,646,000 2,646,000 Acquisition m Chelsea Inv Corp/Quarry Creek Quarry Creek Rentals 08131116 1 1,280,000 1 (223,474) 1,056,526 1,056,526 >< CiC LLP :I: Allowances (1,798,379) (1,798,379) m (A) 1310 Adjustments --f 494 $ 34,542,416 $ 28,400,000 224 $ (12,913,680) $ (3,193,250) $ 21,628,737 $ 25,206,750 $ 48,633,866 -.~ August 20, 2019 Item #1 Page 28 of 28