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2019-09-17; City Council; ; Report on City Investments as of July 31, 2019
~ CITY COUNCIL ~ Staff Report Meeting Date To: From: Staff Contact: September 17, 2019 Mayor and Council Members Scott Chadwick, City Manager Craig Lindholm, City Treasurer CA Review LA,JC.,, Laura Rocha, Deputy City Manager -Administrative Services, Laura.Rocha@carlsbadca.gov or 760-602-2415 Subject: Report on City Investments as of July 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 July 31, 2019 is summarized below. There was a decrease in cash and securities of approximately $12 million when compared to the June investment portfolio. In July there was a lump sum payment of $11. 7 million to satisfy the FY2019-20 Cal PERS obligation in lieu of monthly payments for this fiscal year. I Pooled Investment Portfolio (Cash and Securities} Current Month Prior Month Par Value $781,452,501 $794,156,136 Cost of Investments $781,526,498 $793,834,043 Amortized Cost (1) $781,460,750 $793,677,497 Market Value (2) $783,695,926 $796,915,076 (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 July 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 September 17, 2019 Item #1 Page 1 of 24 All pooled investments have been made in accordance with the city's Investment Policy adopted January 2, 1985 and last revised May 7, 2019. All investments were initially made in accordance with the city's Investment Policy. Events subsequent to the purchase might have resulted in some investments not being in compliance with the current policy. These events are typically a change in the city's Investment Policy, a change in the credit rating subsequent to a purchase, or a temporary reduction in total portfolio assets. Exhibit 9 shows that the investments out of compliance with the current policy had a subsequent change in credit rating. Ratings on three investments changed from double A (AA) to a single A (A) rating. The city's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. These investments are paying interest at the required times and their principal is considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. The pooled investment portfolio has the ability to meet the city's cash flow demands for the next six (6) months. Fiscal Analysis None Next Steps The Report on City Investments is produced monthly by the City Treasurer. Environmental Evaluation (CEQA) Pursuant to Public Resources Code section 21065, this action does not constitute a "project" within the meaning of CEQA in that it has no potential to cause either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, and therefore does not require environmental review. Public Notification This item was noticed in accordance with the Ralph M. Brown Act and was available for viewing at least 72 hours prior to the posting of the agenda. Exhibits 1. Investment Portfolio Breakdown by Amortized Cost, Market Value, Cash Income, and Average Yield 2. Investment Portfolio Breakdown of Maturities 3. Yield Comparison Graph 4. Market Yield Curve 5. Cumulative Cash Income Graph 6. First Quarter 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 September 17, 2019 Item #1 Page 3 of 24 AS OF JULY 31, 2019 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS Class CD FN TR FA SN CN LAIF CUSTODY SWEEP BANK ACCT TOTALS AMORTIZED COST Current Month Prior Month $18,253,317 $18,502,317 12,603,579 12,603,579 80,805,411 80,219,858 365,489,517 389,867,857 19,527,806 19,527,806 168,873,367 162,619,252 103,306, 794 119,271,892 2,047,137 2,754,746 10,514,541 5,740,728 105,029 231,000 $781,526,498 $811,339,035 CD -Certificate of Deposit FN -Federal Discount Notes TR -US Treasury SN -Supranational MARKET VALUE Current Month $18,373,226 13,387,320 80,683,219 365,668,973 19,724,009 169,885,678 103,306,794 2,047,137 10,514,541 105,029 $783,695,926 FA -Federal Agency CN -Corporate Notes Prior Month $18,492,188 13,327,282 80,007,774 389,863,294 19,652,799 163,104,894 113,871,892 3,412,664 5,413,961 315,619 $807,462,367 LAIF -Local Agency Investment Fund AVERAGE YIELD Cash Income Year to Date Current Month Prior Month $44,152 2.06 2.14 0 1.66 1.66 258,622 1.74 1.74 769,681 1.65 1.72 87,500 1.93 1.93 250,481 2.55 2.32 734,902 2.43 2.45 1,422 0.95 0.95 11,797 2.00 2.00 0 2.00 2.00 $2,158,557 2.10% 2.11% Custody -Investment Cash account SWEEP -General Fund Overnight Cash acccount Bank Account -General Fund Cash account m X :::c c:, --4 t-,ir, September 17, 2019 Item #1 Page 4 of 24 CLASS CD FN TR FA SN CN LAIF CUSTODY SWEEP BANK ACCT TOTALS % TOTALS CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JULY 31, 2019 BREAKDOWN OF MA TUR/TIES BY CLASS/FICA T/ON AND LENGTH OF TIME (MARKET VALUE) WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR 1 TO 5 YEARS TOTAL 4,948,863 1,438,035 11,986,329 $18,373,226 10,459,350 0 2,927,970 13,387,320 2,248,465 10,699,557 67,735,197 80,683,219 41,575,484 57,219,165 266,874,325 365,668,974 0 0 19,724,009 19,724,009 13,045,614 17,266,675 139,573,389 169,885,678 103,306,794 0 0 103,306,794 2,047,137 0 0 2,047,137 10,514,541 0 0 10,514,541 105,029 0 0 105,029 $188,251,277 (1) $86,623,431 (1) $508,821,219 $783,695,926 24.0% 11.1% 64.9% 100.0% %TOTAL 2.3% 1.7% 10.3% 46.7% 2.5% 21.7% (2) 13.2% 0.3% 1.3% 0.0% 100.0% Total within One Year $274,874,708 (1) POLICY: 35.1% (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 September 17, 2019 Item #1 Page 5 of 24 Market Rates - MARKET YIELD CURVE 6/30/18, 6/30/19, 7/31/19 - . - --------------- -- -- 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 r-----------------------=-= - - --J;,,.-____ ... ------ ' ------------~---- I I I 3 Mth 2Yr 5 Yr -10 Yr 3 Mth 2 Yr 5 Yr 10 Yr ~----~ ---6/30/2018 1.91 2.53 2.74 2.86 ~ 6/30/2019 2.09 1.74 1.76 2.00 -.. ·7/31/2019 1.99 1.63 1.56 1.73 m X I -OJ -; +:=ii September 17, 2019 Item #1 Page 7 of 24 Cumulative (in millions) 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 0 ----£. J.:> ;:1 ., I Cumulative Cash Income FY19-20 (July 2019) I I I I I I Monthly Interest Income (in millions) I I I Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun •interest Income Actual VTD m >< :r: OJ --i u, September 17, 2019 Item #1 Page 8 of 24 Sec. CUSIP Investment # Fund Type Issuer 14042E4S6 11523 100 MC2 CAPITA 3133ECUV4 11442 100 FAC FFCB "89236TBP9 11529 100 MTN TOYOTA 02587CAJ9 11374 100 MC2 AMEXP 3130ABB21 11812 100 FAC FHLB 3136G3R56 11668 100 FAC FNMA 912828WW6 11376 100 TRC USTR Total Maturities Run Date: 08/12/2019 -08:19 City of Carlsbad Maturity Report Sorted by Maturity Date Amounts due during July 1, 2019 -July 31, 2019 Maturity Purchase Rate Book Value Par Value Date Date at Maturity at Maturity 249,000.00 07/15/2019 07/15/2015 1.950 249,000.00 3,250,000.00 07/17/2019 01/23/2015 2.150 3,250,000.00 2,000,000.00 07/18/2019 07/16/2015 2.125 2,000,000.00 247,000.00 07/24/2019 07/24/2014 2.000 247,000.00 1,800,000.00 07/26/2019 10/03/2017 1.375 1,800,000.00 2,300,000.00 07/26/2019 07/26/2016 1.050 2,300,000.00 2,515,000.00 07/31/2019 08/01/2014 1.625 2,515,000.00 12,361,000.00 12,361,000.00 Maturity Interest Proceeds 2,407.80 251,407.80 34,937.50 3,284,937.50 21,250.00 2,021,250.00 2,449.70 249,449.70 12,375.00 1,812,375.00 12,075.00 2,312,075.00 20,434.38 2,535,434.38 105,929.38 12,466,929.38 Net Income 2,407.80 34,937.50 21,250.00 2,449.70 12,375.00 12,075.00 20,434.38 105,929.38 Portfolio CAR A m >< :I: m MA (PRF _MA) 7.1 j1 =i Report Ver. 7.3.6.11 a, September 17, 2019 Item #1 Page 9 of 24 City of Carlsbad Purchases Report Sorted by Fund -Fund July 1, 2019 -July 31, 2019 Sec. Original Purchase CUSIP Investment # Fund Type Issuer Par Value Date Payment General Fund 89236TCQ6 12063 100 MTN TOYOTA 2,500,000.00 07/01/2019 07/13 -01/13 3134GTYK3 12064 100 FAC FHLMC 2,500,000.00 07/02/2019 01/02 -07/02 3134GTYS6 12065 100 FAC FHLMC 2,500,000.00 07/03/2019 01/01 -07/01 313383WD9 12067 100 FAC FHLB 1,800,00□-.oo 0110512019 09109 -03109 3134GTXQ1 12066 100 FAC FHLMC 1,500,000.00 07/05/2019 12/23 -06/23 3134GTTK9 12068 100 FAC FHLMC 2,000,000.00 07/30/2019 12/26 -06/26 9128284A5 12069 100 TRC USTR 3,000,000.00 07/30/2019 08/31 -02/29 037833BU32 12072 100 MTN APPLEI 3,500,000.00 07/31/2019 02/23 -08/23 14042RMN8 12071 100 BCD CAPITA 247,000.00 07/31/2019 01/31 -07/31 46625HJX9 12074 100 MTN JPMORG 2,000,000.00 07/31/2019 11/1 3 -05/13 Subtotal 21,547,000.00 Total Purchases 21,547,000.00 Received = Accrued Interest at Purchase was received by report ending date. Run Date: 08/12/2019 -08: 18 Principal Accrued Rate at Purchase at Purchase Purchas 2,551,875.00 Received 2.800 2,500,000.00 2.000 2,500,000.00 277.78 2.000 1,874,106.00 18,125.00 3.125 1,500,000.00 583.33 2.000 2,004,000.00 4,486.11 2.375 3,085,572.00 32,527.17 2.625 3,592,680.00 43,779.17 2.850 247,000.00 2.250 2,119,320.00 15,708.33 3.625 21,974,553.00 115,486.89 21 ,974,553.00 115,486.89 Maturity Date YTM 07/13/2022 2.090 07/02/2024 2.000 07/01/2022 2.000 09/09/2022 1.786 12/23/2022 2.000 06/26/2024 2.331 02/28/2023 1.800 02/23/2023 2.039 07/31/2024 2.250 05/13/2024 2.300 Ending Book Value 2,550,449.86 2,500,000.00 2,500,000.00 1,872,421.77 1,500,000.00 2,003,997.73 3,085,441 .26 3,592,680.00 247,000.00 2,119,320.00 21,971,310.62 21,971,310.62 · Portfolio CARL AP PU (PRF _PU) 7.1.1 Report Ver. 7.3.6.1 September 17, 2019 Item #1 Page 10 of 24 City of Carlsbad Sales/Call Report Sorted by Maturity Date -Fund July 1,2019-July31,2019 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 09/15/2020 3133EJGJ2 11883 100 FFCB 04i13/201 07/02/201 1,750,000.00 2.470 1,749,383.02 1,750,000.00 12,847.43 1,762,847.43 13,464.41 FAG 09/15/202 Call Subtotal 1,750,000.00 1,749,383.02 1,750,000.00 12,847.43 1,762,847.43 13,464.41 07/28/2021 3136G3F75 11703 100 FNMA 11 /17/201 07/28/201 2,600,000.00 1.000 \J 2,598,339.44 2,600,000.00 26,000.00 2,626,000.00 27,660.56 FAG 07/28/202 Call Subtotal 2,600,000.00 2,598,339.44 2,600,000.00 26,000.00 2,626,000.00 27,660.56 07/05/2022 3133EKFK7 12027 100 FFCB 04/12/201 07/05/201 2,000,000.00 2.600 1,999,628.55 2,000,000.00 13,000.00 2,013,000.00 13,371.45 FAG 07/05/202 Call Subtotal 2,000,000.00 1,999,628.55 2,000,000.00 13,000.00 2,013,000.00 13,371.45 12/29/2022 3134G86U1 11832 100 FHLMC 12/29/201 07/01/201 2,000,000.00 2.500 2,000,000.00 2,000,000.00 0.00 2,000,000.00 0.00 FAG 12/29/202 Call Subtotal 2,000,000.00 2,000,000.00 2,000,000.00 0.00 2,000,000.00 0.00 01/30/2023 3134GSCD5 11874 100 FHLMC 03/09/201 07/30/201 2,000,000.00 2.550 1,979,107.33 2,000,000.00 25,500.00 2,025,500.00 46,392.67 FAG 01/30/202 Call Subtotal 2,000,000.00 1,979,107.33 2,000,000.00 25,500.00 2,025,500.00 46,392.67 02/01/2023 3130ADHR6 · 11867 100 FHLB 02/23/201 07/18/201 2,750,000.00 2.630 2,730,310.74 2,750,000.00 33,550.76 2,783,550.76 53,240.02 FAG 02/01/202 Call Subtotal 2,750,000.00 2,730,310.74 2,750,000.00 33,550.76 2,783,550.76 53,240.02 07/25/2023 3133EJVG1 11925 100 FFCB 08/03/201 07/25/201 1,500,000.00 3.220 1,498,794.64 1,500,000.00 24,150.00 1,524,150.00 25,355.36 FAG 07/25/202 Call Subtotal 1,500,000.00 1,498,794.64 1,500,000.00 24,150.00 1,524, 150.00 25,355.36 10/26/2023 V -Security with variable rate change. Portfolio CARL AP Run Date: 08/12/2019 -08: 19 SA (PRF _SA) 7.1.1 Report Ver. 7.3.6.1 September 17, 2019 Item #1 Page 11 of 24 Issuer Purchase Redem. Date CUSIP Investment# Fund Sec. Type Date Matur. Date 10/26/2023 05581WE50 11942 100 BMO 10/26/201 07/26/201 MC2 10/26/202 Subtotal Total Sales \ Run Date: 08/12/2019 -08: 19 City of Carlsbad Sales/Call Report July 1, 2019 -July 31, 2019 Par Rate at Book Value Redemption · Value Redem. atRedem. Principal 249,000.00 3:350 249,000.00 249,000.00 249,000.00 249,000.00 249,000.00 14,849,000.00 14,804,563.72 14,849,000.00 Redemption Total Interest Amount 0.00 249,000.00 Call 0.00 249,000.00 135,048.19 14,984,048.19 Page 2 Net Income 0.00 0.00 179,484.47 Portfolio CARL AP SA (PRF_SA) 7.1.1 Report Ver. 7.3.6.1 September 17, 2019 Item #1 Page 12 of 24 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JULY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD' AVG YIELD INTEREST RETURN (Days\ 1/21/2015 8/1/2019 FA FHLMC 1.25% NON-CALL 2,500,000.00 2,493,975.00 1.305% 0.0000890 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% 0.0000888 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% 0.0000657 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% 0.0000681 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% 0.0000750 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% 0.0000392 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% 0.0001035 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% 0.0001424 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% 0.0001423 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% 0.0001613 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% 0.0000419 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% 0.0001002 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% 0.0001218 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% 0.0000502 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% 0.0001355 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% 0.0001592 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% 0.0000978 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% 0.0001014 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% 0.0000718 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% 0.0000383 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% 0.0000871 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% 0.0001151 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% 0.0001158 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% 0.0000858 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% 0.0000851 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% 0.0000918 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% 0.0001710 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% 0.0000448 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% 0.0000814 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% 0.0001283 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% 0.0000767 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% 0.0000534 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% 0.0000955 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% 0.0000675 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% 0.0000569 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% 0.0001094 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% 0.0001436 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% 0.0000709 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% 0.0000733 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% 0.0001384 202,300.00 4,452,300.00 1,461 4/13/2018 7/13/2020 FA FFCB 1.29% CALL 4/19/18 CONT 2,000,000.00 1,948,000.00 2.485% 0.0001324 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% 0.0000744 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% 0.0000961 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% 0.0001095 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% 0.0000343 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% 0.0001065 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% 0.0000616 87,893.57 1,896,868.75 1,430 ~ 10/12/2016 10/6/2020 FA FHLB 1.375% CALL 1/6/17 1,800,000.00 1,797,300.00 1.414% 0.0000695 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% 0.0000590 74,057.39 1,406,076.39 1,269 --f ....., Page 1 8/12/2019 September 17, 2019 Item #1 Page 13 of 24 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JULY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD · 1NTEREST RETURN .ill.ml 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% 0.0000977 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% 0.0001216 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% 0.0001057 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% 0.0000770 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% 0.0000497 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% 0.0000948 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% 0.0000848 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% 0.0000890 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% 0.0001439 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% 0.0001341 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% 0.0000856 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% 0.0001243 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% 0.0000958 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% 0.0000763 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% 0.0001071 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% 0.0000747 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% 0.0000575 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% 0.0000222 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% 0.0000968 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% 0.0000703 71,365.00 1,048,125.00 1,004 3/22/2016 3/22/2021 FA FHLB 1.25% QRTLY CALL 6/22/16 STEP 2,500,000.00 2,498,750.00 1.870% 0.0001278 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% 0.0001368 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% 0.0001242 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% 0.0001050 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% 0.0001007 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% 0.0001449 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% 0.0001830 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% 0.0001282 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% 0.0000585 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% 0.0000872 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% 0.0000689 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% 0.0000900 155,806.25 2,632,656.25 1,722 1/11/2019 7/19/2021 FA FHLMC 1.5% QTLY CALL 1/19/19 2,000,000.00 1,976,000.00 2.776% 0.0001501 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% 0.0000762 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% 0.0001020 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% 0.0001610 224,666.67 3,229,166.67 1,394 12/19/2017 8/12/2021 FA FHLMC 1.125% NON-CALL 1,000,000.00 967,646.98 2.050% 0.0000543 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% 0.0000725 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% 0.0001429 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% 0.0001047 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% 0.0001574 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% 0.0000988 178,794.79 2,669,869.79 1,805 1/3/2018 10/29/2021 FA FAMCA 1.625% QRTLY CALL 2,000,000.00 1,951,928.00 2.285% 0.0001220 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% 0.0001734 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% 0.0001445 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% 0.0001005 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% 0.0001880 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% 0.0000882 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% 0.0001368 137,500.00 2,137,500.00 1,019 Page 2 8/12/2019 September 17, 2019 Item #1 Page 14 of 24 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JULY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD; AVG YIELD INTEREST RETURN (Days) 3/25/2019 2/3/2022 FA FFCB 2.03% NON-CALL 2,500,000.00 2,483,900.00 2.264% 0.0001538 161,019.44 2,644,919.44 1,046 2/23/2017 2/23/2022 FA FAMCA2.1% NON-CALL 2,600,000.00 2,609,204.00 2.025% 0.0001446 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% 0.0001078 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% 0.0001395 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% 0.0000930 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% 0.0000739 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% 0.0000818 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% 0.0001027 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% 0.0001200 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% 0.0001104 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% 0.0002275 413,455.00 3,959,375.00 1,826 4/27/2017 4/27/2022 FA FHLMC 1.75% QRTLY CALL STEP 1,180,000.00 1,180,000.00 2.625% 0.0000847 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% 0.0001224 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% 0.0000689 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% 0.0000724 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% 0.0000521 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% 0.0000864 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% 0.0001471 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% 0.0000917 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% 0.0000911 149,202.50 1,649,202.50 1,635 7/3/2019 7/1/2022 FA FHLMC 2.0% ONR CALL 7/1/20 2,500,000.00 2,500,000.00 2.000% 0.0001368 149,722.22 2,649,722.22 1,094 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% 0.0000779 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% 0.0000824 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% 0.0001439 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% 0.0001014 177,335.28 1,917,027.78 1,743 7/5/2019 9/9/2022 FA FHLB 3.125% BULLET 1,800,000.00 1,874,106.00 1.786% 0.0000916 104,644.00 1,978,750.00 1,162 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% 0.0000735 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% 0.0000732 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% 0.0001368 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% 0.0000654 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% 0.0000531 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% 0.0000790 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% 0.0000952 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% 0.0002083 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% 0.0001573 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% 0.0001515 295,053.75 2,510,156.25 1,690 7/5/2019 12/23/2022 FA FHLMC 2.0% CALL 6/23/20 1,500,000.00 1,500,000.00 2.000% 0.0000821 104,416.67 1,604,416.67 1,267 12/27/2017 12/27/2022 FA FHLMC 2.30% CALL 12/27/19 3,000,000.00 3,000,000.00 2.300% 0.0001888 345,000.00 3,345,000.00 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% 0.0001221 167,343.75 1,917,343.75 1,379 4/10/2018 2/16/2023 FA FHLMC 2.625% CALL QRTL Y 2,500,000.00 2,474,500.00 2.851% 0.0001930 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% 0.0001318 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% 0.0001522 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% 0.0003591 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% 0.0001043 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% 0.0001683 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% 0.0000848 152,847.22 1,152,847.22 1,801 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% 0.0002100 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% 0.0001171 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% 0.0001141 200,701.88 1,500,076.88 1,727 Page 3 8/12/2019 September 17, 2019 Item #1 Page 15 of 24 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JULY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD' AVG YIELD INTEREST RETURN {Days) 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% 0.0001496 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% 0.0000811 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% 0.0001938 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% 0.0000694 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% 0.0001176 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% 0.0000841 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% 0.0001094 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% 0.0002081 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% 0.0000914 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% 0.0001083 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% 0.0000724 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% 0.0001249 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% 0.0002476 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% 0.0001650 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% 0.0000803 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% 0.0001460 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% 0.0001008 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% 0.0001696 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% 0.0001441 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% 0.0001174 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% 0.0002086 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% 0.0001915 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% 0.0001070 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% 0.0002146 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% 0.0001609 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% 0.0001288 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% 0.0001500 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% 0.0000764 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% 0.0001527 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% 0.0000629 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% 0.0002247 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% 0.0001847 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% 0.0001717 312,480.00 3,102,480.00 1,821 7/30/2019 6/26/2024 FA FHLMC 2.375% CALL 6/26/20 2,000,000.00 2,004,000.00 2.150% 0.0001179 229,013.89 2,233,013.89 1,793 7/2/2019 7/2/2024 FA FHLMC 2.0% CALL QUARTERLY 2,500,000.00 2,500,000.00 2.000% 0.0001368 250,000.00 2,750,000.00 1,827 6/27/2019 7/15/2024 FA PEFCO 2.45% BULLET 2,500,000.00 2,565,850.00 1.900% 0.0001334 243,292.36 2,809,142.36 1,845 SUB-TOTAL FA 364,958,000.00 365,489,517.65 1.650% 31,156,308.33 396,645,825.98 1,467 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 378,458,000.00 378,093,096.84 32,052,729.14 410,145,825.98 1,466 Page 4 8/12/2019 September 17, 2019 Item #1 Page 16 of 24 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JULY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Daysi 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% 0.0002224 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% 0.0002803 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 QTLYIBRD 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 1.925% 1,927,430.94 21,455,236.83 1,456 10/6/2014 8/31/2019 TR US TREASURY 1.00% 1,000,000.00 964,920.00 1.036% 0.0001237 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% 0.0002115 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% 0.0004331 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% 0.0002556 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% 0.0003449 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% 0.0002866 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% 0.0003017 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% 0.0003584 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% 0.0008007 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% 0.0002689 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% 0.0002466 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% 0.0002554 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% 0.0008709 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% 0.0003056 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 % 0.0006058 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% 0.0002602 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% 0.0002943 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% 0.0004135 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% 0.0005569 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% 0.0004062 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% 0.0006374 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% 0.0003450 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% 0.0005794 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% 0.0003825 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% 0.0002959 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 % 0.0003064 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% 0.0004391 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% 0.0004228 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% 0.0004267 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% 0.0004554 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% 0.0009277 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% 0.0004438 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% 0.0007248 297,790.11 3,226,345.11 1,837 Page 5 8/12/2019 September 17, 2019 Item #1 Page 17 of 24 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JULY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days) 4/23/2019 2/28/2022 TR US TREASURY 1.875% 1,500,000.00 1,485,142.67 1.875% 0.0003446 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% 0.0007336 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% 0.0004671 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% 0.0002723 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% 0.0006502 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% 0.0002464 99,716.44 1,080,666.44 1,813 7/30/2019 2/28/2023 TR US TREASURY 2.625% 3,000,000.00 3,085,572.00 1.800% 0.0006873 275,650.83 3,361 ,222.83 1,309 SUB-TOTAL TR 80,925,000.00 80,805,411.01 1.739% 6,250,929.90 87,056,340.91 1,566 11/18/2014 11/15/2019 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 3,000,000.00 3,017,400.00 2.070% 0.0003699 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% 0.0003468 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% 0.0001771 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% 0.0001449 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% 0.0003190 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% 0.0002103 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% 0.0002309 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% 0.0003370 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% 0.0004882 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% 0.0004382 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% 0.0001400 93,890.62 1,596,890.62 1,452 1113/2015 8/7/2020 CN 3M COMPANY 2.0% MAKE WHOLE CALL 3,500,000.00 3,554,215.00 1.660% 0.0003494 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% 0.0001076 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% 0.0004987 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% 0.0005706 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% 0.0001249 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% 0.0002958 152,1 DD.DO 2,650,000.00 1,096 117/2019 12/15/2020 CN WALMART 1.9% MAKE WHOLE 1,500,000.00 1,481 ,805.00 2.545% 0.0002233 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% 0.0003553 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% 0.0003421 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% 0.0002117 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% 0.0000882 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% 0.0002978 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% 0.0005491 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 % 0.0001070 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% 0.0002382 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% 0.0002400 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% 0.0005556 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% 0.0002502 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% 0.0002331 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% 0.0003521 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% 0.0002151 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% 0.0001117 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% 0.0002265 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% 0.0002959 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% 0.0001720 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% 0.0001919 97,275.00 1,334,062.50 1,092 Page 6 8/12/2019 September 17, 2019 Item #1 Page 18 of 24 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JULY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days) 3/6/2017 3/6/2022 CN EXXON MOBLIE 2.397% MAKE WHOLE 2,000,000.00 2,003,380.00 2.360% 0.0002800 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% 0.0004285 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% 0.0002190 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% 0.0001474 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% 0.0002082 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% 0.0003651 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% 0.0001827 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% 0.0001941 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% 0.0002749 162,880.00 1,646,650.00 1,274 7/1/2019 7/13/2022 CN TOYOTA 2.8% MAKE WHOLE 2,500,000.00 2,551,875.00 2.090% 0.0003158 160,458.33 2,712,333.33 1,108 11/6/2017 8/11/2022 CN PROCTER & GAMBLE 2.15% MAKEWHOLE 1,800,000.00 1,799,161.20 2.160% 0.0002301 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% 0.0003515 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% 0.0002529 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% 0.0002258 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% 0.0002868 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% 0.0003527 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% 0.0002831 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% 0.0004745 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% 0.0004885 412,500.00 3,412,500.00 1,828 7/31/2019 2/23/2023 CN APPLE INC 2.85% MAKE WHOLE 2/23/22 3,500,000.00 3,592,680.00 2.039% 0.0004338 262,540.83 3,855,220.83 1,303 3/20/2018 3/15/2023 CN BERKSHIRE HATHAWAY 2.75% MAKEWHOLE 1,000,000.00 983,890.00 3.101% 0.0001807 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% 0.0003197 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% 0.0003782 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% 0.0001800 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% 0.0001896 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% 0.0003260 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% 0.0008262 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% 0.0007205 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% 0.0003363 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% 0.0002883 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% 0.0001682 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% 0.0002498 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% 0.0001888 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% 0.0003169 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% 0.0005012 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% 0.0003686 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% 0.0003153 259,297.92 1,759,297.92 1,778 1/28/2019 12/5/2023 CN JOHNSON & JOHNSON 3.375% NON CALL 1,500,000.00 1,541,250.00 2.765% 0.0002524 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% 0.0001778 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% 0.0001738 136,173.06 1,171,043.06 1,713 7/31/2019 5/13/2024 CN JP MORGAN CHASE 3.625% BULLET 2,000,000.00 2,119,320.00 2.300% 0.0026704 227,471.67 2,346,791.67 1,748 SUB-TOTAL CN 168,239,000.00 168,873,367.12 2.553% 16,462,165.32 185,335,532.44 1,560 8/28/2014 8/28/2019 CD ENERBANK USA 2.05% 247,000.00 247,000.00 2.050% 0.0002774 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% 0.0002842 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% 0.0001630 8,928.00 256,928.00 1,095 Page 7 8/12/2019 September 17, 2019 Item #1 Page 19 of 24 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JULY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days) 9/16/2016 9/16/2019 CD ISRAEL DISCOUNT BK OF NY 1.3% 248,000.00 248,000.00 1.300% 0.0001766 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% 0.0002909 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% 0.0002909 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% 0.0002842 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% 0.0002691 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% 0.0002571 23,465.00 270,465.00 1,826 11/3/2014 11/4/2019 CD WEBSTER BANK NAT'L ASSOC 1.9% 247,000.00 247,000.00 1.900% 0.0002571 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% 0.0002977 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% 0.0002977 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% 0.0002909 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% 0.0002977 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% 0.0002842 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% 0.0002571 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% 0.0002455 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% 0.0002251 20,542.50 269,542.50 1,826 1/26/2018 1/27/2020 CD FLAGSTAR BANK2.15% 247,000.00 247,000.00 2.150% 0.0002909 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% 0.0002251 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% 0.0002233 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% 0.0002368 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% 0.0002165 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% 0.0002191 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% 0.0002570 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% 0.0002796 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% 0.0002728 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% 0.0002503 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% 0.0002706 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% 0.0002599 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% 0.0002989 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% 0.0002728 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% 0.0002842 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% 0.0002524 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% 0.0003888 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% 0.0002251 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% 0.0004043 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% 0.0002592 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% 0.0002038 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% 0.0002038 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% 0.0002378 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% 0.0002728 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% 0.0003100 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% 0.0002796 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% 0.0002796 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% 0.0003841 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% 0.0002842 25,935.00 272,935.00 1,826 7/31/2017 7/29/2022 CD KS STATE BANK 2.1% 245,000.00 245,000.00 2.100% 0.0002819 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% 0.0002977 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% 0.0002865 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% 0.0002933 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% 0.0002909 26,552.50 273,552.50 1,826 Page 8 8/12/2019 September 17, 2019 Item #1 Page 20 of 24 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF JULY 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD: AVG YIELD INTEREST RETURN (Days) 10/18/2017 10/18/2022 CD BENEFICIAL BANK 2.15% NON-CALL 247,000.00 247,000.00 2.150% 0.0002909 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% 0.0003410 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% 0.0004178 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% 0.0003755 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% 0.0004043 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% 0.0003187 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% 0.0004094 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% 0.0004297 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% 0.0004433 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% 0.0004297 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% 0.0003841 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% 0.0004228 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% 0.0004429 40,425.00 285,425.00 1,826 11/15/2018 10/30/2023 CD NATIONAL COOPERATIVE BANK 3.45% NON-C) 245,000.00 245,000.00 3.450% 0.0004631 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% 0.0004698 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% 0.0004765 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% 0.0004832 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% 0.0004228 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% 0.0003504 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% 0.0003410 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% 0.0003138 28,635.00 277,635.00 1,827 7/31/2019 7/31/2024 CD CAPITAL ONE 2.25% BULLET 247,000.00 247,000.00 2.250% 0.0003045 27,787.50 274,787.50 1,827 SUB-TOTAL CD 18,257,000.00 18,253,316.70 2.056% 1,941,939.13 20,195,255.83 1,698 10152 0 WELLS FARGO BANK-General Fund 105,029.00 105,029.00 2.000% 0.0000181 5.76 105,034.76 10151 0 CORPORATE CASH MANAGEMENT ACCOUNT 10,514,540.99 10,514,540.99 2.000% 0.0018133 576.14 10,515,117.13 11880 0 WELLS FARGO CUSTODY 2,047,137.00 2,047,137.00 0.950% 0.0001677 54.02 2,047,191.02 10047 0 LA IF WATER DISTRICT 35,994,529.85 35,994,529.85 2.428% 0.0075357 2,427.63 35,996,957.48 10045 0 LA I F PUBLIC IMPROVEMENT CORPORATION 19,784,574.01 19,784,574.01 2.428% 0.0041421 1,334.36 19,785,908.37 10391 0 LA I F PUBLIC FINANCING CORPORATION 24,222,181.32 24,222,181.32 2.428% 0.0050711 1,633.65 24,223,814.97 10046 0 L A I F CITY OF CARLSBAD 23,305,508.56 23,305,508.56 2.428% 0.0048792 1,571.83 23,307,080.39 SUB-TOTAL 115,973,500.73 115,973,500.73 2.363% 7,603.39 115,981,104.12 GRAND TOTAL 781,452,500.73 781,526,498.29 1.977% 56,715,366.88 818,714,059.28 Page 9 8/12/2019 September 17, 2019 Item #1 Page 21 of 24 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 47 ,908,403 23 ,741,134 27 ,141,047 11,800,807 7,415,495 5,941 ,765 107,218,661 124,370,978 14,832,400 138,640,132 49,799,246 6,758,976 8,173,053 1,311,496 105,930,382 36,634,698 370,370,690 204,682,903 47,918,269 20,255,062 785,792,004 (4,331,254) 781,460,750 ( 1) The Reconciling Adjustments consist of differences between the General Ledger which is prepared on an accrual basis and the Treasurer's report which is prepared on the cash basis. Accrued Interest, amortized premium or discounts and outstanding checks and deposits in transit are not included in the Treasurer's summary. Differences between the time journal entries are posted and the time this report is produced may also be a component of the adjustment. •• Figures based on best estimate at the time report run on 8/9/2019. EXHIBIT 8 September 17, 2019 Item #1 Page 22 of 24 CITY OF CARLSBAD INVESTMENT PORTFOLIO Corporate Note and Commerical Paper Ratings As of July 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) Moodl£'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 JP MORGAN CHASE BANK A2 A-AA-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 Moodl£'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. EXHIBIT 9 Carrying Market Value Value 2,524,345 2,503,585 8,028,052 8,151,020 September 17, 2019 Item #1 Page 23 of 24 CITY OF CARLSBAD INVESTMENT PORTFOLIO AsofJuly 31,2019 Corporate and Federal Agency Issuers -Percent of Total Portfolio Corporate Notes -Percent of Total Portfolio Percent of Investment Cost Portfolio (*) ADP $ 4,029,600 0.52% ALPHABET, INC $ 5,364,100 0.69% APPLE INC $ 17,299,330 2.21% BERKSHIRE HATHAWAY $ 8,312,201 1.06% BLACKROCK INC $ 1,011,600 0.13% BANK OF NEW YORK MELON $ 2,061,800 0.26% CHEVRON $ 14,307,799 1.83% CITIBANK $ 1,034,870 0.13% COCA COLA CO $ 5,131,236 0.66% COLGATE-PALMOLIVE $ 10,632,541 1.36% EXXON MOBIL $ 10,138,030 1.30% IBM CORP $ 2,555,600 0.33% JOHNSON & JOHNSON $ 6,151,316 0.79% JP MORGAN CHASE BANK $ 2,119,320 0.27% MICROSOFT $ 17,196,798 2.20% 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 0.97% TOYOTA $ 19,882,350 2.54% US BANK $ 6,585,975 0.84% WALMART $ 10,379,828 1.33% WELLS FARGO BANK $ 8,023,150 1.03% Federal Agencies -Percent of Total Portfolio Percent of Investment Cost Portfolio {**} FAMCA $ 15,391,753 1.97% FICO $ 4,961,759 0.63% FEDERAL FARM CREDIT BANK $ 74,588,484 9.54% FEDERAL HOME LOAN BANK $ 98,193,125 12.56% FEDERAL HOME LOAN MORTGAGE CORP $ 115,406,823 14.77% FEDERAL NATIONAL MORTGAGE ASSOC $ 54,539,662 6.98% PEFCO $ 8,282,421 1.06% RFCO STRIP PRINCIPAL $ 2,750,760 0.35% TENNESSEE VALLEY AUTHORITY $ 7,496,748 0.96% SUPRANATIONAL -IBRD $ 19,527,806 2.50% U.S.TREASURY $ 80,801,284 10.34% Total Portfolio $ 781,526,498 • 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 $ 35,046,725 $ 33,712,225 $ 21,776,995 $ 30,764,124 $ 38,064,725 $ 37,014,525 $ 24,768,526 $ 38,041,455 $ 33,945,089 $ 28,443,784 $ 28,938,295 $ 36,520,725 $ 32,925,009 $ 36,957,005 $ 21,879,527 $ 35,522,110 $ 35,058,805 $ 37,586,825 $ 31,481,636 $ 19,193,975 $ 32,490,350 $ 28,696,497 $ 31,053,175 September 17, 2019 Item #1 Page 24 of 24 Council Memorandum {city of Carlsbad Memo ID# 2019104 Sept. 17, 2019 To: From: Re: Honorable Mayor Hall and Members w.::t ity Council Elaine Lu key, Chief Operations Office Responses to Questions from the Sep . 16, 2019, Council Briefings Agenda Item No. 1-Report on City Investments Question 1: Please provide the Cumulative Income Chart for fiscal year 2018-19 from the June report, for review. Answer: The charts below reflect the cumulative income from July 2019 as well as the prior months. One chart shows last fiscal year with July added to the end of it, and one chart shows just June and July 2019. ·Cumulat,..,e (fn millions) 16 15, 14, 13 12 u 10 9 S, 7 6 5 4 3 2 1 0 Cumulative Cash Income 13-Month Report (July 2019) 1.483 1~0&6 1~e9=,--0-:908 M onthly lntere,;t Income (in mlllions) 2.159 Jul Aug Sep Oct. Nov Dec Jan Feb Mar Apr May J1.1n Jul 18-19 ,-----------------------, 19-20 _,ntefest Income ---Budget Actua l Fiscal YTD City Manager's Office 1200 Carlsbad Village Drive I Carlsbad, CA 92008 I 760-434-2820 t 8 7 6 s 4 3 2 0 Honorable Mayor Hall and Members of the City Council Sept. 17,2019 Page 2 Cumulative Cash Income FY 19-20 + Jun 18-19 I Cumulatl-,e I (July 2019) (in millions] 15 14 u 12 11 10 9 s; '1 6 5 4 3 -'-~J•J 2 0,-:N<3 1 0 - Monthly Interest lni:ome ([n mJllfons] Jun Jul Aug Sep Oct N,ov Dec Jan Feb Mar Apr May Jun 18-19 ~------------------~ -Interest Income cc: Scott Chadwick, City Manager Celia Brewer, City Attorney -Actual Fiscal YTD