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2019-10-22; City Council; ; Report on City Investments as of Aug. 31, 2019.
~ CITY COUNCIL ~ Staff Report Meeting Date To: From: Staff Contact: Oct. 22, 2019 Mayor and Council Members Scott Chadwick, City Manager Craig Lindholm, City Treasurer Laura Rocha, Deputy City Manager -Administrative Services, Laura.Rocha@carlsbadca.gov or 760-602-2415 Subject: Report on City Investments as of Aug. 31, 2019. Recommended Action Accept and file Report on City Investments as of Aug. 31, 2019. 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 ending Aug. 31, 2019 is summarized below. I Pooled Investment Portfolio {Cash and Securities) Current Month Prior Month Par Value $771,675,111 $781,452,501 Cost of Investments $772,368,494 $781,526,498 Amortized Cost (1) $772,271,175 $781,460,750 Market Value (2) $778,038,180 $783,695,926 (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 Aug. 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. 1 I Oct. 22, 2019 Item #1 Page 1 of 26 Exhibit 9 shows that the investments out of compliance with the current policy had a subsequent change in credit rating. Ratings on seven investments changed from ~ouble 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 months. Fiscal Analysis None. Next Steps The Report on City Investments will continue to be 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 3 Oct. 22, 2019 Item #1 Page 3 of 26 AS OF AUGUST 31, 2019 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS AMORTIZED COST MARKET VALUE AVERAGE YIELD Cash Income Class Current Month Prior Month Current Month Prior Month Year to Date Current Month Prior Month CD $18,006,317 $18,253,317 $18,247,533 $18,373,226 $78,242 2.01 2.06 FN 12,603,579 12,603,579 13,422,685 13,387,320 0 1.66 1.66 TR 78,577,770 80,805,411 78,977,698 80,683,219 258,622 1.75 1.74 FA 357,721,243 365,489,517 359,403,693 365,668,973 1,311,776 1.60 1.65 SN 21,534,726 19,527,806 21,906,665 19,724,009 138,150 1.75 1.93 CN 174,134,747 168,873,367 176,289,795 169,885,678 557,395 2.84 2.55 LAIF 98,306,794 103,306,794 98,306,794 103,306,794 734,902 2.38 2.43 CUSTODY 4,057,369 2,047,137 4,057,369 2,047,137 2,763 0.75 0.95 SWEEP 6,115,779 10,514,541 6,115,779 10,514,541 27,342 2.00 2.00 BANK ACCT 1,310,170 105,029 1,310,170 105,029 0 2.00 2.00 -- TOTALS $772,368,494 $781,526,498 $778,038,180 $783,695,926 $3,109,192 2.00% 2.10% CD -Certificate of Deposit FA -Federal Agency Custody -Investment Cash account FN -Federal Discount Notes CN -Corporate Notes SWEEP -General Fund Overnight Cash acccount TR -US Treasury LAIF -Local Agency Investment Fund Bank Account -General Fund Cash account SN -Supranational m X :::c 0:, =i ""'" Oct. 22, 2019 Item #1 Page 4 of 26 CLASS CD FN TR FA SN CN LAIF CUSTODY SWEEP BANK ACCT TOTALS % TOTALS CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF AUGUST 31, 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 4,455,094 1,937,079 11,855,361 $18,247,533 10,481,185 0 2,941,500 13,422,685 0 13,734,538 65,243,160 78,977,698 34,111,762 61,307,897 263,984,034 359,403,693 0 1,987,400 19,919,265 21,906,665 13,051,938 20,799,016 142,438,841 176,289,795 98,306,794 0 0 98,306,794 4,057,369 0 0 4,057,369 6,115,779 0 0 6,115,779 1,310,170 0 0 1,310,170 $171,890,090 (1) $99,765,930 (1) $506,382,161 $778,038,181 22.1% 12.8% 65.1% 100.0% % TOTAL 2.3% 1.7% 10.2% 46.2% 2.8% 22.7% (2) 12.6% 0.5% 0.8% 0.2% 100.0% Total within One Year $271,656,020 (1) POLICY: 34.9% (1) Not less than $199,022,000 to mature within one year. (Two-thirds of current year operating budget of $297,048,458) (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes. m X :c 1:1:1 =i N Oct. 22, 2019 Item #1 Page 5 of 26 Market Rates -3.50 ·----- MARKET YIELD CURVE 6/30/18, 6/30/19,8/31/19 Ill --1..-. __ ---------- - - ---1Jttttt---Ji.---------- ■ . ---- 3.00 2.50 2.00 1.50 1.00 0.50 0.00 -.-------------------~ . ---•--- I I I 3 Mth 2 Yr 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 -.--8/31/2019 1.95 1.46 1.34 1.47 m X I co ~ .j::,, Oct. 22, 2019 Item #1 Page 7 of 26 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 3137EADK2 11434 100 FAC FHLMC 742651DQ2 11632 100 FAC PEFCO 29266NB30 11381 100 MC2 ENERB 3136G3W84 11673 100 FAC FNMA 87164YCX0 11382 100 MC2 SYNCHR · 940637HS3 11674 100 MC2 WASHT 912828TN0 11391 100 TRC USTR 912828D80 11721 100 TRC USTR Total Maturities Run Date: 09/13/2019 -09:21 City of Carlsbad Maturity Report Sorted by Maturity Date Amounts due during July 1, 2019 -August 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 2,500,000.00 08/01/2019 01/21/2015 1.250 2,500,000.00 2,600,000.00 08/15/2019 04/28/2016 1.450 2,600,000.00 247,000.00 08/28/2019 08/28/2014 2.050 247,000.00 2,400,000.00 08/28/2019 08/30/2016 1.000 2,400,000.00 247,000.00 08/29/2019 08/29/2014 2.100 247,000.00 248,000.00 08/30/2019 08/30/2016 1.200 248,000.00 1,000,000.00 08/31/2019 10/06/2014 1.000 1,000,000.00 1,250,000.00 08/31/2019 01/10/2017 1.625 1,250,000.00 22,853,000.00 22,853,000.00 · 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 15,625.00 2,515,625.00 18,850.00 2,618,850.00 2,510.94 249,510.94 12,000.00 2,412,000.00 2,586.39 249,586.39 1,483.92 249,483.92 5,000.00 1,005,000.00 10,156.25 1,260,156.25 174,141.88 23,027,141.88 Net Income 2,407.80 34,937.50 21,250.00 2,449.70 12,375.00 12,075.00 20,434.38 15,625.00 18,850.00 2,510.94 12,000.00 2,586.39 1,483.92 5,000.00 10,156.25 174,141.88 ,m Portfolio CARLI )< AP! ~--- MA(PRF_MA)7.1.1l m Rep_ortVer. 7.3.6.1 .... ~--.-.-Oct. 22, 2019 Item #1 Page 9 of 26 City of Carlsbad Purchases Report Sorted by Fund -Fund July 1, 2019 -August 31, 2019 Sec. Original Purchase Pri_ncipal CUSIP Investment# Fund Type Issuer Par Value Date Payment Purchase General Fund 89236TCQ6 12063 100 MTN TOYOTA 2,500,000.00 07/01/2019 07/13 -01/13 2,551,875.00 3134GTYK3 12064 100 FAC FHLMC 2,500,000.00 07/02/2019 01/02 -07/02 2,500,000.00 3134GTYS6 12065 100 FAC FHLMC 2,500,000.00 07/03/2019 01/01 -07/01 . 2,500,000.00 313383WD9 12067 100 FAC FHLB 1,800,000.00 07/05/2019 09/09 -03/09 1,874,106.00 3134GTXQ1 12066 100. FAC FHLMC 1,500,000.00' 07/05/2019 12/23 -06/23 1,500,000.00 3134GTTK9 12068 100 FAC FHLMC 2,000,000.00 07/30/2019 12/26 -06/26 2,004,000.00 9128284A5 12069 100 TRC USTR 3,000,000.00 07/30/2019 08/31 -02/29 3,085,572.00 037833BU32 12072 100 MTN APPLE! 3,500,000.00 07/31/2019 08/23 -02/23 3,592,680.00 14042RMN8 12071 100 BCD CAPITA 247,000.00 07/31/2019 01/31 -07/31 247,000.00 46625HJX9 12074 100 MTN JPMORG 2,000,000.00 07/31/2019 11/13-05/13 2,119,320.00 3133EKYR1 12075 100 FAC FFCB 2,000,000.00 08/08/2019 02/08 -08/08 2,000,000.00 3133EKWV4 12076 100 FAC FFCB 2,500,000.00 08/08/2019 01/26 -07/26 2,532,125.00 44329MA45 12077 100 BCD HSBC 246,000.00 08/13/2019 02/13 -08/13 246,000.00 023135AZ9 12079 100 MTN AMAZ.C 2,000,000.00 08/26/2019 02/22 -08/22 2,087,280.00 3133EKNX0 12081 100 FAC FFCB 1,470,000.00 08/28/2019 12/03 -06/03 1,517,378.10 3133EKF27 12083 100 FAC FFCB 1,500,000.00 08/28/2019 02/26 -08/26 1,499,565.00 09247XAL5 12086 100 MTN BLACKR 2,000,000.00 08/29/2019 09/18 -03/18 2,162,500.00 19416QEA4 12085 100 MTN COLGAT 1,000,000.00 08/29/2019 02/01 -08/01 1,011 ,600.00 3133EKEC6 12082 100 FAC FFCB 1,183,000.00 08/29/2019 12/25 -06/25 1,237,524.47 459056HV2 12084 100 MC3 IBRD 2,000,000.00 08/29/2019 02/28 -08/28 2,006,920.00 3133EKQA7 12087 100 FAC FFCB 2,500,000.00 08/30/2019 09/10 -03/10 2,572,420.00 938828BM1 12078 100 BCD WASHIN 249,000.00 08/30/2019 09/30 -Monthly 249,000.00 Subtotal 40,195,000.00 41,096,865.57 Total Purchases 40,195,000.00 41,096,865.57 Received = Accrued Interest at Purchase was received by report ending date. Run Date: 09/13/2019 -09:20 Accrued Rate at at Purchase Purchas Received 2.800 2.000 277.78 2.000 18,125.00 3.125 583.33 2.000 4,486.11 2.375 32,527.17 2.625 Received 2.850 2.250 15,708.33 3.625 2.16b 1,541 .67 1.850 2.300 622.22 2.800 7,497.00 2.160 154.17 1.850 31,305.56 3.500 1,516.67 1.950 5,072.11 2.450 83.33 1.500 11 ,555.56 2.080 2.000 131,056.01 -131,056.01 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 02/08/2022 2.160 07/26/2024 1.580 08/13/2024 2.300 08/22/2024 1.879 06/03/2024 1.457 08/26/2022 1.860 03/18/2024 1.640 02/01/2023 1:600 06/25/2024 1.457 08/28/2024 1.428 09/10/2024 1.480 08/30/2024 2.000 Ending Book Value 2,549,024.73 2,500,000.00 2,500,000.00 1,870,478.43 1,500,000.00 2,003,929.78 3,083,414.72 3,590,511.20 247,000.00 · 2,117,241.25 2,000,000.00 2,531,711 .76 246,000.00 2,087,037.02 1,517,295.22 1,499,566.21 2, 162,301.7.1 1,011,581.17 1,237,461 .65 2,006,912.31 2,572,379.99 249,000.00 41,082,847.15 41,082,847.15 Portfolio CARL AP PU (PRF _PU) 7.1.1 Report Ver. 7.3.6.1 Oct. 22, 2019 Item #1 Page 10 of 26 City of Carlsbad Sales/Call Report Sorted by Maturity Date -Fund July 1, 2019 -August 31, 2019 Issuer Purchase Redem. Date Par Rate at Book Value Redemption Redemption Total USIP Investment# Fund Sec.Type Date Matur. Date Value Redem. atRedem. Principal Interest Amount Net Income 9/15/2020 133EJGJ2 11883 100 FFCB 04/13/201 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 FAC 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 12/26/2021 134G8L31 11614 100 FHLMC 02/26/201 08/26/201 1,000,000.00 1.250 \, 999,850.00 1,000,000.00 7,500.00 1,007,500.00 · 7,650.00 FAC 02/26/202 Call Subtotal 1,000,000.00 999,850.00 1,000,000.00 7,500.00 1,007,500.00 7,650.00 )7/28/2021 l136G3F75 11703 100 FNMA 11/17/201 07/28/201 2,600,000.00 1.000 \, 2,598,339.44 . 2,600,000.00 .26,000.00 2,626,000.00 27,660.56 FAC 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 12/21/2021 l133EH3Y7 11845 100 FFOB 01/03/201 08/14/201 3,000,000.00 2.230 2,995,551.47 3,000,000.00 9,849.17 3,009,849.17 14,297.70 FAC 12/21/202 Call Subtotal 3,000,000.00 2,995,551 .47. : 3,000,000.00 9,849.17 3,009,849.17 14,297.70 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 FAC 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 11/28/2022 3130ACX66 11825 100 FHLB 11/30/201 08/28/201 2,500,000.00 2.300 2,500,000.00 2,500,000.00 14,375.00 2,514,375.00 14,375.00 FAC 11/2~/202 Call Subtotal 2;soo,ooo.oo 2,500,000.00 2,500,000.00 14,375.00 2,514,375.00 14,375.00 12/29/2022 3134GB6U1 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 FAC 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 V -Security with variable rate change. Portfolio CARL AP Run Date: 09/13/2019 -09:21· SA (PRF _SA) 7.1.1 Report Ver. 7.3.6.1 Oct. 22, 2019 Item #1 Page 11 of 26 Issuer Purchase Redem. Date :us1P Investment# Fund Sec. Type Date Matur. Date 11/30/2023 134GSCD5 11874 100 FHLMC 03/09/201 07/30/201 FAC 01/30/202 Subtotal 12/01/2023 ,130ADHR6 11867 100 FHLB 02/23/201 07/18/201 FAC 02/01/202 Subtotal )2116/2023 1134GSCJ2 11881 100 FH_LMC 04/10/201 08/16/201 FAC 02/16/202 Subtotal )7/25/2023 l133EJVG1 11925 100 FFCB 08/03/2()1 07/25/201 FAC 07/25/202 Subtotal )8/01/2023 3133EHTA1 11945 100 FFCB 11/07/201 08/27/201 FAC 08/01/202 3133EHTA1 11947 100 FFCB 11/08/201 08/27/201 FAC 08/01/202 Subtotal 10/26/2023 05581WE50 11942 100 BMO 10/26/201 07/26/201 MC2 10/26/202 Subtotal Total Sales Run Date: 09/13/2019 -09:21 City of Carlsbad Sales/Call Report July 1,2019-August31,2019 Par Rate at Book Value Redemption Value Redem. atRedem. Principal 2,000,000.00 2.550 1,979,107.33 2,000,000.00 2,000,000.00 1,979,107.33 2,000,000.00 2,750,000.00 2.630 2,730,310.74 2,750,000.00 2,750,000.00 2,730,310.74 2,750,000.00 2,500,000,00 2.625 · 2,481,597.94 2,500,000.00 2,500,000.00 2,481,597.94 2,500,000.00 1,500,000.00 3.220 1,498,794.64 1,500,000.00 1,500,000.00 1,498,794.64 1,500,000.00 1,400,000.00 2.350 1,358,398.19 1,400,000.00 1,350,000.00 2.350 1,307,966.09 1,350,000.00 2,750,000.00 2,666,364.28 · 2,750,000.00 249,000.00 3.350 ~49,000.00 249,000.00 249,000.00 249,000.00 249,000.00 26,599,000.00 26,447,927.41 26,599,000.00 Redemption Total Interest Amount 25,500.00 2,025,500.00 Call 25,500.00 2,025,500.00 33,550.76 2,783,550.76 Call 33,550.76 2,783,550.76 32,812.50 2,532,812.50 Call 32,812.50 2,532,812.50 24,150.00 1,524,150.00 Call 24,150.00 1,524,150.00 2,376.11 1,402,376.11 Call 2,291 .25 1,352,291.25 Call 4,667.36 2,754,667.36 0.00 249,000.00 Call 0.00 249,000.00 204,252.22 26,803,252.22 Page 2 Net Income 46,392.67 46,392.67 53,240.02 53,240.02 51,214.56 51,214.56 25,355.36 25,355.36 43,977.92 44,325.16 88,303.08 0.00 0.00 355,324.81 . Portfolio CARL AP SA(PRF_SA)7.1.1 Report Ver. 7.3.6.1 Oct. 22, 2019 Item #1 Page 12 of 26 City of Carlsbad Sales/Call Report Sorted by Maturity Date -Fund July 1, 2019 -August 31, 2019 Issuer Purchase Redem. Date Par Rate at Book Value Redemption Redemption Total JSIP Investment# Fund Sec. Type Date Matur. Date Value Redem. atRedem. Principal Interest Amount Net Income l/15/2020 33EJGJ2 11883 100 FFCB 04/13/201 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 .., FAC 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 . 2/26/2021 134G8L31 11614 100 FHLMC 02/26/201 08/26/201 1,000,000.00 1.250 v 999,850.00 1,000,000.00 7,500.00 1,007,500.00 7,650.00 FAC 02/26/202 Call Subtotal 1,000,000.00 999,850.00 1,000,000.00 7,500.00 1,007,500.00 7,650.00 7/28/2021 136G3F75 . 11703 100 FNMA 11/17/201 07/28/201 2,60_0,000.00 1.000 v 2,598,339.44 . 2,600,000.00 26,000.00 2,626,000.00 27,660.56 FAC 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 2/21/2021 ,133EH3Y7 11845 100 FFCB 01/03/201 08/14/201 3,000,000.00 2.230 2,995,551.47 3,000,000.00 9,849.17 3,009,849.17 14,297.70 FAC 12/21/202 Call Subtotal 3,000,000.00 2,995,551.47 3,000,000.00 9,849.17 3,009,849.17 14,297.70 )7/05/2022 l133EKFK7 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 FAC 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 11/28/2022 3130ACX66 11825 100 FHLB 11/30/201 08/28/201 2,500,000.00 2.300 2,500,000.00 . 2,500,000.00 14,375.00 2,514,375.00 14,375.00 FAC 11/28/202 Call Subtotal 2,500,000.00 2,500,000.00 2,500,000.00 14,375.00 2,514,375.00 14,375.00 12/29/2022 3134GB6U1 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 FAC 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 V -Security with variable rate change. Portfolio CARL AP Run Date: 09/13/2019 -09:23 SA (PRF_SA) 7.1.1 Report Ver. 7.3.6.1 Oct. 22, 2019 Item #1 Page 13 of 26 Issuer Purchase Redem. Date USIP Investment# Fund · Sec. Type Date Matur. Date 1/30/2023 134GSCD5 11874 100 FHLMC 03/09/201 07/30/201 FAC 01/30/202 Subtotal 2/01/2023 130ADHR6 11867 100 FHLB 02/23/201 07/18/201 FAC 02/01/202 Subtotal 2/16/2023 134GSCJ2 11881 100 FHLMC 04/10/201 08/16/201 FAC 02/16/202 Subtotal 7/25/2023 133EJVG1 11925 100 FFCB 08/03/201 07/25/201 FAC 07/25/202 Subtotal 18/01/2023 133EHTA1 11945 100 FFCB 11/07/201 08/27/201 FAC 08/01/202 133EHTA1 11947 100 FFCB 11/08/201 08/27/201 FAC 08/01/202 Subtotal 0/26/2023 15581WE50 11942 100 BMO 10/26/201 07/26/201 MC2 10/26/202 . Subtotal Total Sales tun Date: 09/13/2019 -09:23 City of Carlsbad Sales/Call Report July 1, 2019 -August 31, 2019 Par Rate at Book Value Redemption Value Redein. atRedem. Principal · 2,000,000.00 2.550 1,979,107.33 2,000,000.00 2,000,000.00 1,979,107.33 2,000,000.00 2,750,000.00 2.630 2,730,310.74 2,750,000.00 2,750,000.00 2,730,310.74 2,750,000.00 2,500,000.00 2.625 -2,481,597.94 2,500,000.00 2,500,000.00 2,481,597.94 2,500,000.00 1,500,000.00 3.220 1,498,794.64 1,500,000.00 1,500,000.00 1,498,794.64 1,500,000.00 1,400,000.00 2.350 1,358,398.19 1,400,000.00 1,350,000.00 2.350 1,307,966.09 1,350,000.00 2,750,000.00 2,666,364.28 2,750,000.00 · 249,000.00 3.350 249,000.00 249,000.00 249,000.00 249,000.00 249,000.00 26,599,000.00 26,447,927.41 26,599,000.00 Redemption Total Interest Amount 25,500.00 2,025,500.00 Call 25,500.00 2,025,500.00 33,550.76 2,783,550.76 Call 33,550.76 2,783,550.76 32,812.50 2,532,812.50 Call 32,812.50 2,532,812.50 24,150.00 -1,524,150.00 Call 24,150.00 1,524,150.00 2,376.11 1,402,376.11 Call - 2,291.25 1,352,291.25 Call 4.,667.36 2,754,667.36 0.00 249,000.00 Call 0.00 249,000.00 204,252.22 26,803,252.22 Page 2 Net Income 46,392.67 46,392.67 53,240.02 53,240.02 51,214.56 51,214.56 25,355.36 25,355.36 43,977.92 44,325.16 88,303.08 0.00 0.00 355,324.81 Portfolio CARL AP SA (PRF _SA) 7.1.1 Report Ver. 7.3.6.1 Oct. 22, 2019 Item #1 Page 14 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF AUGUST 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 10/23/2014 9/13/2019 FA FHLB 2.00% NON-CALL 1,500,000.00 1,525,968.30 1.630% 0.0000695 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% 0.0000766 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% 0.0000401 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% 0.0001058 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% 0.0001455 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% 0.0001454 182,000.00 4,1 82,000.00 1,279 6/15/2015 12/13/2019 FA FHLB 2.375% NON-CALL 3,370,000.00 3,468,026.56 1.700% 0.0001648 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% 0.0000429 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% 0.0001024 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% 0.0001245 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% 0.0000512 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% 0.0001385 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% 0.0001627 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% 0.0000999 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% 0.0001036 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% 0.0000734 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% 0.0000391 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% 0.0000!)90 100,750.00 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% 0.0001176 158,250.00 3,257,250.00 1,392 5/4/2018 3/15/2020 FA TENN VALLEY AUTHORITY 2.2.5% NON-CALL 1,700,000.00 .1,692,265.00 2.500% · 0.0001183 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% 0.0000876 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% 0.0000870 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% 0.0000938 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% 0.0001747 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% 0.0000458 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% 0.0000832 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% 0.0001310 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.Q0 1,650,000.00 1.700% 0.0000784 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% 0.0000545 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% 0.0000976 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% 0.0000689 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% 0.0000581 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% 0.0001118 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% 0.0001468 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% 0.0000725 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% 0.0000749 112,192.37 2,271 ,824.37 1,533 7113/2016 7/13/2020 FA FFCB 1. 19% CALL 7/13/17 CONT 4,250,000.00 4,250,000.00 1.190% 0.0001414 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% 0.0001353 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% 0.0000760 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% 0.0000982 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% 0.0001119 158,710.00 3,156,970.00 1,447 4/19/2016 8/28/2020 FA FHLMC 1.65% NON-CALL 1,000,000.00 1,017,760.00 1.230% 0.0000350 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% 0.0001088 161,121 .25 3,367,281 .25 1,556 m 10/12/2016 9/11/2020 FA FHLB 1.375% NON-CALL 1,800,000.00 1,808,975.18 1.244% 0.0000629 87,893.57 1,896,868.75 1,430 >< 10/12/2016 10/6/2020 FA FHLB 1.375% CALL 1/6/1} 1,800,000.00 1,797,300.00 1.414% 0.0000710 101 ,287.50 -1,898,587.50 1,455 :::c 4/26/2017 10/16/2020 FA FNMA 2.35% SEMI-ANNUAL CALL 1,300,000.00 1,332,019.00 1.618% 0.0000602 74,057.39 1,406,076.39 1,269 OJ 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% 0.0000999 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% 0.0001243 112,369.44 1,833,494.44 918;j -I 7/22/2016 11/27/2020 FA FNMA 1.65% NON-CALL 3,250,000.00 3,316,612.00 1.165% 0.0001080 166,507.79 3,483,119.79 1,589 1 ....... ~,,,., .. ,,.,.... 9/13/2019 Oct. 22, 2019 Item #1 Page 15 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF AUGUST 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 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% 0.0000786 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% 0.0000507 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% 0.0000969 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% 0.0000867 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% 0.0000909 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% 0.0001470 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% 0.0001370 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% 0.0000875 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% 0.0001270 189,058.75 3,504,718.75 1,587 8/16/2017 2/16/2021 FA FNMA 1.75°/o CALL 8/16/18 2,000,000.00 2,000,000.00 1.750% 0.0000978 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% 0.0000779 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% 0.0001094 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% 0.0000763 60,560.00 1,038,500.00 805 2/26/2016 2/26/2021 FA FHLB 1.69% CALL 8/26/16 CONT 480,000.00 480,000.00 1.690% 0.0000227 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% 0.0000989 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% 0.0000718 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% 0.0001306 235;625.oo 2,734,375.00 1,826 3/26/2019 3/26/2021 FA FHLMC 2.5% CA[L 3/26/20 2,000,000.00 2,000,000.00 2.500% 0.0001398 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% 0.0001269 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% 0.0001073 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% 0.0001029 128,868.75 2,1 02,881.25 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% 0.0001481 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% 0.0001870 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% 0.0001310 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% 0.0000597 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% 0.0000891 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% 0.0000704 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% 0.0000920 155,806.25 2,632,656.25 1,722 1/11/2019 7/19/2021 FA FHLMC 1.5% QTL Y CALL 1/19/19 2,000,000.00 1,976,000.00 2.776% 0.000_1533 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% 0.0000779 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% 0.0001042 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% 0.0001645 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% 0.0000555 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% 0.0000741 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% 0.0001460 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% 0.0001069 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% 0.0001608 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% 0.0001010 178,794.79 2,669,869.79 1,805 1i3/2018 10/29/2021 FA FAMCA 1.625% QRTL Y CALL 2,000,000.00 1,951 ,928.00 2.285% 0.0001247 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% 0.0001771 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% 0.0001476 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% 0.0001027 171 ,171.67 2,174,791 .67 1,703 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% 0.0000901 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% 0.0001398 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% 0.0001572 161 ,019.44 2,644,919.44 . 1,046 8/8/2019 2/8/2022 FA FFCB 2.16% CALL 11 /8/19 2,000,000.00 2,000,000.00 2.160% 0.0001208 108,000.00 2,108,000.00 915 2/23/2017 2/23/2022 FA FAMCA 2.1% NON-CALL 2,600,000.00 2,609,204.00 2.025% 0.0001477 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% 0.0001101 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% 0.0001426 153,000.00 2,153,000.00 1,096 9/13/2019 Oct. 22, 2019 Item #1 Page 16 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF AUGUST 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM · DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN ~ 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% 0.0000950 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% 0.0000755 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% 0.0000835 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% 0.0001049 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% 0.0001226 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% 0.0001128 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% 0.0002324 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% 0.0000866 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% 0.0001251 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% 0.0000704 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% 0.0000740 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% 0.0000532 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% 0.0000882 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% 0.0001503 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% 0.0000937 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% 0.0000931 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% 0.0001398 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% 0.0000796 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% 0.0000841 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% 0.0001470 233,290.00 2,145,290.00 1,589 8/28/2019 8/26/2022 FA FFCB 1.85% CALL 8/26/22 1,500,000.00 1,499,565.00 1.860% 0.0000780 83,530.83 1,583,095.83 1,094 12/1/2017 9/9/2022 FA FHLB 2.0% NON-CALL · 1,750,000.00 1,739,692.50 2.130% 0.0001036 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% 0.0000936 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% 0.0000751 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% 0.0000748 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% 0.0001398 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% 0.0000668 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% 0.0000543 120,324.44 1,091,444.44 1,671 10/5/2018 10/5/2022 FA FNMA 2.0% NON-CALL 1,000,000:oq 962,570.00 3.000% 0.0000807 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% 0.0000973 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% 0.0002128 382,687.50 3,632,687.50 1,826 4/24/2018 12/9/2022 FA FHLB 2.5% NON-CALL 2,250,000.00 2,215,102.50 2.500% 0.0001548 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% 0.0000839 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% 0.0001929 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% 0.0001248 167,343.75 1,917,343.75 1,379 3/22/2019 3/10/2023 FA FHLB 2.75% BULLET 2,000,000.00 2,028,220.00 2.375% 0.0001347 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% 0.0001555 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% 0.0003669 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% 0.0001066 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% 0.0001719 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% 0.0000867 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% 0.0002146 383,323.61 2,883,323.61 1,824 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% 0.0001529 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% 0.0000829 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% 0.0001980 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% 0.0000709 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% 0.0001202 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% 0.0000859 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% 0.0001118 200,000.00 1,450,000.00 1,826 9/13/2019 Oct. 22, 2019 Item #1 Page 17 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF AUGUST 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM .MI£ DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 10/17/2018 10/2/2023 FA FFCB 3.05% NON-CALL 2,500,000.00 2,493,150.00 3.050% 0.0002126 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% 0.0000934 167,000.00 1,167,000.00 1,826 11/7/2018 10/10/2023 FA FAM CA 3.41 % CALL 10/10/19 SEMI ANNUAL 1,150,000.00 1,147,987.50 3.449% 0.0001107 195,146.38 1,343,133.88 1,798 2/7/2019 10/23/2023 FA FFCB 3.0% BUCLET 1,000,000.00 1,017,530.00 2.602% 0.0000740 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% 0.0001276 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% 0.0002529 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% 0.0001686 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% 0.0000820 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% 0.0001492 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% 0.0001030 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% 0.0001733 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% 0.0001473 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% 0.0001200 214,500.00 1,715,625.00 1,826 1/30/2019 1/30/2024 FA FHLB 3.050% CALL 1/30/20 QTLY 2,500,000.00 2,500,000.00 3.050% 0.0002132 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% 0.0001957 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% 0.0001094 _ 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% 0.0002193 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% 0.0001644 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% 0.0001316 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% 0.0001533 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% 0.0000780 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% 0.0001560 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% 0.0000643 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% 0.0002296 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% 0.0001887 337,500.00 2,837,500.00 1,827 8/28/2019 6/30/2024 FA · FFCB 2.16% BULLET 1,470,000.00 1,517,378.10 1.457% 0.0000618 103,884.90 1,621 ,263.00 1,768 6/26/2019 6/20/2024 FA FHLMC 2.25% CALL 12/20/19 2,790,000.00 2,790,000.00 2.249% 0.0001754 312,480.00 3,102,480.00 1,821 8/28/2019 6/25/2024 FA FFCB 2.45% BULLET 1,183,000.00 1,237,524.47 1.457% 0.0000504 85,320.92 1,322,845.39 1,763 7/30/2019 6/26/2024 FA FHLMC 2.375% CALL 6/26/20 2,000,000.00 2,004,000.00 2.150% 0.0001204 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% 0.0001398 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% 0.0001363 243,292.36 2,809,142.36 · 1,845 8/8/2019 7/26/2024 FA FFCB 1.85% BULLET 2,500,000.00 2,532,125.00 1.582% 0.0001120 197,583.33 2,729,708.33 1,814 8/30/2019 9/10/2024 FA FFCB 2.08% BULLET 2,500,000.00 2,572,420.00 1.480% 0.0001064 189,024.44 2,761,444.44 1,838 SUB-TOTAL FA 356,861,000.00 357,721,243.42 1.596% 30,180,389.18 387,901,632.60 1,463 \... 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 370,361,000.00 370,324,822.61 31,076,809.99 401,401,632.60 1,462 8/3/2017 8/10/2020 SN IBRD 1.125% NON-CALL 2,000,000.00 1,972,100.00 1.600% 0.0014652 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% 0.0014622 57,859.27 1,132,570.27 666 9/13/2019 Oct. 22, 2019 Item #1 Page 18 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF AUGUST 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 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% 0.0014938 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% 0.0020965 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% 0.0024813 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% 0.0012133 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% 0.0002156 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% 0.0002719 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% 0.0019505 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% 0.0011814 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% 0.0036569 468,750.00 3,468,750.00 1,826 8/29/2019 8/28/2024 SN IBRD 1.5% BULLET 2,000,000.00 2,006,920.00 1.428% 0.0013308 142,996.67 2,149,916.67 1,826 Supranational Investment Total 21 ,600,0"00.00 21,534,725.89 1.749% 2,070,427.61 23,605,153.50 1,487 12/22/2016 2/29/2020 TR US TREASURY 1.375% 2,200,000.00 2,184,531.25 1.602% 0.0004454 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% 0.0002628 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% 0.0003547 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 % 0.0002947 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% 0.0003102 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% 0.0003686 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% 0.0008234 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% 0.0002766 86,875.85 1,846,446.16 1,464 12/2/2016 10/31/2020 TR U$ TREASURY 1.375% 1,200,000.00 1,186,200.00 1.680% 0.0002536 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 % 0.0002627 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% 0.0008956 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% 0.0003142 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% 0.0006230 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%. 0.0002676 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% 0.0003027 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% 0.0004252 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% 0.0005727 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% 0.0004177 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% 0.0006555 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% 0.0003548 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% 0.0005959 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% 0.0003933 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% 0.0003043 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 % 0.0003151 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% 0.0004515 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% 0.0004348 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% 0.0004388 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% 0.0004684 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% 0.0009540 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% 0.0004563 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% 0.0007454 297,790.11 3,226,345.11 1,837 4/23/2019 2/28/2022 TR US TREASURY 1.875% 1,500,000.00 1,481,015.63 1.875% 0.0003534 99,232.33 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% 0.0007544 302,757.69 3,266,682.69 1,855 5/15/2017 5/15/2022 TR US TREASURY 1.750%1 2,000,000.00 1,985,625.00 1.901 % 0.0004804 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% 0.0002800 108,249.03 1,365,595.28 1,801 9/13/2019 Oct. 22, 2019 Item #1 Page 19 of 26 C!TY OF CARLSBAD INVESTMENT SUMMARY AS OF AUGUST 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 8/31/2017 8/31/2022 TR US TREASURY 1.875% 3,000,000.00 3,019,290.00 1.740% 0.0006686 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% 0.0002534 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% 0.0007068 275,650.83 3,361 ,222.83 1,309 SUB-TOTAL TR 78,675,000.00 . 78,577,770.22 1.754% 6,1 26,034.44 84,703,804.66 1,576 11/18/2014 11/15/2019 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 3,000,000.00 3,017,400.00 2.070% 0.0003587 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% 0.0003363 228,105.03 3,039,305.03 1,424 12/1 3/2017 11/15/2019 CN CHEVRON CORP 2.193% MAKE-WHOLE CALL 2,500,000.00 2,512,725.00 1.190% 0.0001717 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% 0.0001405 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% 0.0003094 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% 0.0002039 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% 0.0002240 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% 0.0003268 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% 0.0004734 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% 0.0004249 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% 0.0001358 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% 0.0003388 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% 0.0001044 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% 0.0004836 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% 0.0005533 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% 0.0001211 92 ,466.67 1,631,916.67 1,607 11/1 3/2017 11/13/2020 CN APPLE INC 2.0% MAKE WHOLE CALL 2,500,000.00 2,497,900.00 2.000% 0.0002869 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% 0.0002166 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% 0.0003446 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% 0.0003318 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% 0.0002053 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% 0.0000855 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% 0.0002888 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% 0.0005325 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 % 0.0001037 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% 0.0002311 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% 0.0002328 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% 0.0005389 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% 0.0002426 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% . 0.0002261 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% 0.0003414 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% 0.0002086 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% 0.0001083 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% 0.0002197 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% 0.0002869 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% 0.0001 668 119,808.33 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% 0.0001861 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% 0.0002715 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 % 0.0004156 358,820.00 3,676,970.00 1,814 12/6/2017 5/15/2022 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE G 1,503,000.00 1,540,770.39 2.400% 0.0002124 162,504.36 1,703,274.75 1,621 1/8/201 8 5/15/2022 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE C. 1,000,000.00 1,023,300.00 2.432% 0.0001429 107,283.33 1,130,583.33 1,588 9/13/2019 Oct. 22, 2019 Item #1 Page 20 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF AUGUST 31, 2019 INVESTMENT MATURITY PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days} 10/9/2018 5/15/2022 CN BERKSHIRE HATHAWAY 3.0% MAKE WHOLE C 1,100,000.00 1,091,810.50 3.220% -0.0002019 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% 0.0003541 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% 0.0001772 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% 0.0001883 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% 0.0002666 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% 0.0003063 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% 0.0002232 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% 0.0003409 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% 0.0002453 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% 0.0002190 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% 0.0002781 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% 0.0003421 251,430.00 2,187,250.00 1,520 12/6/2017 11/29/2022 CN TOYOTA2.125% NON-CALL FLOATING 2,250,000.00 2,250,000.00 2.125% 0.0002746 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% 0.0004601 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% 0.0004738 412,500.00 3,412,500.00 1,828 8/29/2019 2/1/2023 CN COLGATE PALMOLIVE 1.95% BULLET 1,000,000.00 1,011 ,600.00 1.600% 0.0000929 55,133.33 1,066,733.33 1,252 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% 0.0004207 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% 0.0001752 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% 0.0003100 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% 0.0003668 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% 0.0001746 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 % 0.0001838 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% 0.0003161 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% 0.0008012 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% 0.0006987 515;aoo.oo 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% 0.0003262 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% 0.0002796 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% 0.0001631 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% 0.0002423 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%" 0.0001831 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% 0.0003073 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% 0.0004860 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% 0.0003574 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% 0.0003058 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% 0.0002447 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% 0.0001724 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% 0.0001685 136,173.06 1,171 ,043.06 1,713 8/29/2019 3/18/2024 CN BLACKROCK 3.5% BULLET 2,000,000.00 2,162,500.00 1.640% 0.0002037 156,194.44 2,318,694.44 1,663 7/31/2019 5/13/2024 CN JP MORGAN CHASE 3.625% BULLET 2,000,000.00 2,119,320.00 2.300% 0.0027071 227,471.67 2,346,791.67 1,748 8/22/2019 8/22/2024 CN AMAZON.COM INC 2.8% MAKE WHOLE 6/22/24 2,000,000.00 2,0_87,280.00 2.800% 0.0032457 192,097.78 2,279,377.78 1,827 SUB-TOTAL CN 173,239,000.00 174,134,747.12 2.842% 16,865,590.87 191,000,337.99 1,561 9/1.6/2016 9/16/2019 CD ISRAEL DISCOUNT BK OF NY 1.3% 248,000.00 248,000.00 1.300% 0.0001790 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% 0.0002949 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% 0.0002949 -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% 0.0002881 25,935.00 272,935.00 1,826 9/13/2019 Oct. 22, 2019 Item #1 Page 21 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF AUGUST 31, 2019 INVESTMENT MATURITY PAR INVEST-ED RETURN WEIGHTED . INVESTMENT TERM DATE 'DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN {Days) 10/10/2014 10/10/2019 CD GE CAPITAL BANK 2.0% 247,000.00 245,641 .50 2.000% 0.0002728 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% 0.0002606 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% 0.0002606 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% 0.0003018 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% 0.0003018 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% 0.0002949 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% 0.0003018 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% 0.0002881 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% 0.0002606 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% 0.0002489 20,f69.00 269,169.00 1,645 1/27/2015 1/27/2020 CD NORTHFIELD BANK 1.65% 249,000.00 249,000.00 1.650% 0.0002282 20,542.50 269,542.50 1,826 1/26/2018 1/27/2020 CD FLAGSTAR BANK 2.15% 247,000.00 247,000.00 . 2.150% 0.0002949 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% 0.0002282 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% 0.0002263 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% 0.0002400 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% 0.0002195 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% 0.0002221 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% 0.0002605 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% 0.0002835 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% 0.0002766 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% 0.0002538 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% 0.0002743 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% 0.0002635 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% 0.0003030 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% 0.0002766 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% 0.0002881 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% 0.0002558 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% 0.0003941 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% 0.0002282 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% 0.0004099 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% 0.0002627 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% 0.0002066 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% 0.0002066 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% 0.0002410 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% 0.0002766 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% 0.0003142 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% 0.0002835 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% 0.0002835 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% 0.0003894 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% 0.0002881 25,935.00 272,935.00 1,826 7/31/2017 7/29/2022 CD KS STATE BANK2.1% 245,000.00 245,000.00 2.100% 0.0002857 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% 0.0003018 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% 0.0002904 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% 0.0002973 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% 0.0002949 26,552.50 27.3,552.50 1,826 10/18/2017 10/18/2022 CD BENEFICIAL BANK 2.15% NON-CALL 247,000.00 247,000.00 2.150% 0.0002949 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% 0.0003457 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% 0.0004235 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% 0.0003807 34,547.50 280,055.50 1,827 9/13/2019 Oct. 22, 2019 Item #1 Page 22 of 26 CITY OF CARLSBAD INVESTMENT SUMMARY AS OF AUGUST 31, 2019 INVESTMENT MATURITY . PAR INVESTED RETURN WEIGHTED INVESTMENT TERM DATE DATE TYPE SECURITY VALUE AMOUNT RATE (YIELD) AVG YIELD INTEREST RETURN (Days) 4/24/2018 4/24/2023 CD CITIBANK 3.0% NON-CALL 246,000.00 246,000.00 3.000% 0.0004099 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% 0.0003230 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% 0.0004150 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% 0.0004356 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% 0.0004494 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% 0.0004356 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% 0.0003894 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% 0.0004286 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% 0.0004490 40,425.00 285,425.00 1,826 11/15/2018 10/30/2023 CD NATIONAL COOPERATIVE BANK 3.45% NON-CJ 245,000.00 245,000.00 3.450% 0.0004694 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% 0.0004762 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% 0.0004830 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% 0.0004898 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% 0.0004286 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% 0.0003552 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% 0.0003457 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% 0.0003181 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% 0.0003086 27,787.50 274,787.50 1,827 8/13/2019 8/13/202.4 CD HSBC BANK 2.3% CALL 8/13/20 246,000.00 246,000.00 2.300% 0.0003142 28,290.00 274,290.00 1,827 8/30/2019 8/30/2024 CD WASHINGTON FEDERAL 2.0% BULLET 249,000.00 249,000.00 2.000% 0.0002766 24,900.00 273,900.00 1,827 SUB-TOTAL CD 18,010,000.00 18,006,316.70 2.01 1% 1,934,948.63 19,941,265.33 1,706 10152 0 WELLS FARGO BANK-General Fund 1,310,170.00 1,310,170.00 0.750% 0.0000895 26.92 1,310,196.92 10151 0 CORPORATE CASH MANAGEMENT ACCOUNT 6,115,778.92 6,115,778.92 2.000% 0.0011141 335.1.1 6,116,114.03 11880 0 WELLS FARGO CUSTODY 4,057,368.75 4,057,368.75 0.750% 0.0002772 84.53 4,057,453.28 10047 0 LA IF WATER DISTRICT 22,394,529.85 22,394,529.85 2.379% 0.0048526 1,479.91 22,396,009.76 10045 0 LA I F PUBLIC IMPROVEMENT CORPORATION 19,784,574.01 19,784,574.01 2.379% 0.0042870 1,307.43 19,785,881.44 10391 0 LA I F PUBLIC FINANCING CORPORATION 24,222,181 .32 24,222,181.32 2.379% 0.0052486 1,600.68 24,223,782.00 10046 0 LA I F CITY OF CARLSBAD 31,905,508.56 31,905,508.56 2.379% 0.0069135 2,108.42 31,907,616.98 SUB-TOTAL 109,790,111.41 109,790,111.41 2.278% 6,943.00 109,797,054.41 GRAND TOTAL 771,675,111.41 772,368,493.95 2.005% 56,010,326.93 806,844,094.99 9/13/2019 Oct. 22, 2019 Item #1 Page 23 of 26 CITY OF CARLSBAD Fund Equity in Pooled Investments As of August 31, 2019 Cash Balance by Fund: General Special Revenue Capital Projects: General Capital Construction Traffic Impact Fees Public Facilities Fees Park Development Transnet Taxes Drainage Fees Special Districts Infrastructure Replacement Gas Tax Enterprise: Carlsbad Municipal Water District Sewer Fund Solid Waste Storm Water Golf Course Internal Service Trust and Agency Total General Ledger Balance** Reconciling Adjustments (1) Total Total Total Treasurer's Investment Portfolio at Amortized Cost 47,683,308 23,837,364 27,108,192 11,824,684 7,566,714 5,977,082 104,376,968 124,390,640 15,125,903 138,068,456 47,969,653 6,676,814 8,012,126 1,495,583 105,706,544 37,146,278 367,890,855 202,222,632 47,720,303 15,642,867 776,329,479 (4,058,304) 772,271, 175 (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 9/12/2019. EXHIBIT 8 Oct. 22, 2019 Item #1 Page 24 of 26 CITY OF CARLSBAD INVESTMENT PORTFOLIO Corporate Note and Commerical Paper Ratings As of August 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) Mood)l's S&P Fitch Outlook 3M COMPANY A1 AA-Stable/Negative ALPHABET, INC Aa2 AA+ Stable AMAZON.COM INC A3 AA-A+ Positive/Stable/Positive 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 A2 A Stable/Negative JOHNSON & JOHNSON Aaa AAA Negative/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-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 3M COMPANY A1 AA-08/07/2020 AMAZON.COM INC A3 AA-08/22/2024 BANK OF NY MELLON CORP A3 AA-A+ 04/28/2023 CITIBANK AA3 A+ A+ 01 /23/2024 COCA COLA COMPANY A1 A+ A 09/01/2021 IBM CORP A2 A 11/21/2021 JP MORGAN CHASE BANK A2 A-AA-05/13/2024 Purchased 11/03/2015 08/26/2019 05/16/2019 05/16/2019 01/10/2018 11/07/2016 07/311/201S Outlook Stable/ Negative Positive/ Stable Stable Stable Stable Stable/ Negative Stable * The City's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All of these investments are paying interest at the required times. The principal of all investments are considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. EXHIBIT 9 Carrying Market Value Value 3,510,628 3,502,800 2,087,037 2,087,460 2,057,237 2,108,260 1,032,700 1,064,910 5,119,734 5,140,194 2,523,402 2,514,720 2,117,241 2,138,640 Oct. 22, 2019 Item #1 Page 25 of 26 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of August 31, 2019 Corporate and Federal Agency Issuers -Percent of Total Portfolio Corporate Notes -Percent of Total Portfolio Percent of Investment Cost Portfolio {*l 3M COMPANY $ 3,554,215 0.46% ADP $ 4,029,600 0.52% ALPHABET, INC $ 5,364,100 0.70% AMAZON.COM INC $ 2,087,280 0.27% APPLE INC $ 17,299,330 2.24% BERKSHIRE HATHAWAY $ 8,312,201 1.08% BLACKROCK INC $ 3,174,100 0.41% BANK OF NEW YORK MELON $ 2,061,800 0.27% CHEVRON $ 14,307,799 1.85% CITIBANK $ 1,034,870 0.13% COCA COLA CO $ 5,131,236 0.66% COLGATE-PALMOLIVE $ 11,644,141 1.51% EXXON MOBIL $ 10,138,030 1.31% IBM CORP $ 2,555,600 0.33% JOHNSON & JOHNSON $ 6,151,316 0.80% JP MORGAN CHASE BANK $ 2,119,320 0.27% MICROSOFT $ 17,196,798 2.23% NEW YORK LIFE $ 4,017,520 0.52% NOVARTIS CAPTIAL CORP $ 1,489,500 0.19% PROCTER & GAMBLE $ 7,594,689 0.98% TOYOTA $ 19,882,350 2.58% US BANK $ 6,585,975 0.85% WALMART $ 10,379,828 1.35% WELLS FARGO BANK $ 8,023,150 1.04% Federal Agencies -Percent of Total Portfolio Percent of Investment Cost Portfolio l**l FAMCA $ 15,391,753 1.99% FICO $ 4,961,759 0.64% FEDERAL FARM CREDIT BANK $ 80,305,756 10.41% FEDERAL HOME LOAN BANK $ 92,173,125 11.94% FEDERAL HOME LOAN MORTGAGE CORP $109,440,410 14.18% FEDERAL NATIONAL MORTGAGE ASSOC $ 52,139,662 6.76% PEFCO $ 5,664,850 0.73% RFCO STRIP PRINCIPAL $ 2,750,760 0.36% TENNESSEE VALLEY AUTHORITY $ 7,496,748 0.97% SUPRANATIONAL -IBRD $ 21,534,726 2.79% U.S.TREASURY $ 78,577,770 10.18% Other Cash and Investments $127,103,045 Total Portfolio $ 771,675,111 * 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 $ 35,029,541 $ 34,554,156 $ 33,219,656 $ 36,496,476 $ 21,284,426 $ 30,271,555 $ 35,409,656 $ 36,521,956 $ 24,275,957 $ 37,548,886 $ 33,452,520 $ 26,939,615 $ 28,445,726 $ 36,028,156 $ 32,432,440 $ 36,464,436 $ 21,386,958 $ 34,566,236 $ 37,094,256 $ 30,989,067 $ 18,701,406 $ 31,997,781 $ 28,203,928 $ 30,560,606 Oct. 22, 2019 Item #1 Page 26 of 26