Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
2020-06-02; City Council; ; Report on City Investments as of April 30, 2020
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 U.S. economy has been immeasurably impacted by the continuing COVID~19 pandemic. The United States, and much of the rest of the world, is on a social lockdown in order to prevent the spread of the virus. Many businesses are suspended which, in general, reduces city revenues. However, the city treasurer is ensuring cash demands can be met during this time by continuing to make informed, sound and secure market decisions. Security and liquidity have always been at the forefront of decision-making, which enables the investment portfolio to continue to meet the needs of the city through this emergency. Additionally, the Local Agency Investment Fund and California Asset Management Program rates have reduced significantly. The yield of investment portfolio has also decreased. However, the investment portfolio continues to return a competitive yield. Next Steps The report on city in-vestments 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 the California Environmental Quality Act 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 and Outreach 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. Investments by Cost, Market Value, Cash Income, and Average Yield by Class 2. Maturities by Classification and Length of Time at Market Value 3. Yield Comparison & Market Yield Curve 4. Cumulative Cash Income 5. Maturities, Purchases and Calls this Quarter 6. Detailed Investment Report 7. Fund Equity in Pooled Investments 8. Corporate Note and Mortgage Backed Security Ratings 9. Issuers Portfolio Allocation at Amortized Cost June 2, 2020 Item #2 Page 3 of 17 City of Carlsbad Investment Portfolio As of April 30, 2020 Investments by Cost, Market Value, Cash Income, and Average Yield by Class Investment Cost Market Value Average Yield Class Current Month Prior Month FA $245,678,217 $265,885,448 FN 2,750,760 2,750,760 SN 39,669,269 39,669,269 TR 81,974,169 84,289,262 CN 223,540,877 211,490,748 CD 17,035,034 17,034,034 MBS (Agency) 7,172,804 3,960,531 MBS (Non-agency) Bank Account 3,264,997 3,355,486 Sweep 4,141,287 2,165,958 IRT 930,027 1,535,886 CAMP 1,003,039 1,001,769 LAIF 184,322,046 158,603,169 Total $811,482,526 $791,742,320 FA -Federal Agency Notes FN -Federal Discount Notes SN -Supranational TR -US Treasury CN -Corporate Notes CD -Certificate of Deposit Current Month $251,749,855 2,995,590 40,598,342 83,770,192 228,095,741 17,541,228 7,217,591 - 3,264,997 4,141,287 930,027 1,003,039 184,322,046 $825,629,937 Prior Month YTD Income Current Month $270,003,627 $ 6,388,285 1.90% 2,991,270 -1.75 40,578,265 442,088 1.83 86,170,511 1,290,352 1.75 212,982,740 3,244,366 2.17 17,311,982 559,018 2.18 4,018,579 19,228 1.47 --0.00 3,355,486 -0.30 2,165,958 78,511 0.06 1,535,886 8,038 0.01 1,001,769 3,039 0.85 158,603,169 2,740,435 1.47 $800,719,241 $14,773,361 1.84% MBS -Passthrough/Mortgage Backed Securities Bank Account -General Fund Cash account Sweep -General FLirid Overnight Cash account IRT -Investment Cash account CAMP -California Asset Management Program LAIF -Local Area Investment Fund Prior Month 1.95% 1.75 1.83 1.73 2.24 2.18 1.85 0.00 0.30 0.21 0.01 1.22 1.73 1.94% m X :::c c:,. =i .... June 2, 2020 Item #2 Page 4 of 17 City of Carlsbad Investment Portfolio As of April 30, 2020 Maturities by Classification and Length of Time at Market Value Class Within 6 Months 7 Months to 1 Year 1 to 5 Years Total % Total FA $25,129,713 $25,805,408 $200,814,735 $251,749,855 30.49% FN 2,995,590 -2,995,590 0.36 SN 4,617,332 -35,981,010 40,598,342 4.92 TR 12,164,026 14,538,599 57,067,567 83,770,192 10.15 CN 14,036,750 22,659,930 191,399,061 228,095,741 27.63 (2) CD 3,445,523 501,578 13,594,128 17,541,228 2.12 MBS (Agency) 20,400 20,400 7,176,791 7,217,591 0.87 (3) MBS (Non-agency) -0.00 (4) Bank Account 3,264,997 3,264,997 0.40 Sweep 4,141,287 4,141,287 0.50 IRT 930,027 930,027 0.11 CAMP 1,003,039 1,003,039 0.12 LAIF 184,322,046 184,322,046 22.33 Totals $256,070,729 $63,525,914 $506,033,293 $825,629,937 100.0% % Totals 31.0% 7.7% 61.3% 100.0% Total within One Year $319,596,644 (1) 38.7% Policy: (1) Not less than $198,032,000 to mature within one year, two-thirds of current year operating budget $297,048,458. (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes at time of purchase. (3) Policy states that not more than 20% of portfolio is to be invested in mortgage backed securities at time of purchase. (4) Total non-agency mortgage backed securities shall be limited to 5% of the city's portfolio. m X :::c 0:, =i N June 2, 2020 Item #2 Page 5 of 17 16 15 14 vi' 13 C 12 0 11 $12.57 ~ 10 C ~ 9 Q) 8 E 7 0 u C 6 ...., V1 5 ~ Q) 4 ...., C 3 2 1 $1.80 $1.27 $0.99 -■ • -Apr May Jun Jul -FY2018-19 City of Carlsbad Investment Portfolio Cumulative Cash Income 13-Month Comparison $1.34 $1.72 $1.24 $1.24 -• ■ • • Aug Sept Oct Nov Dec -FY2019-20 ~ FY 2018-19 Cumulative EXHIBIT 4 $14.77 $1.75 $1.00 $1.58 $1.79 ■ -■·■ Jan Feb Mar Apr ~ FY 2019-20 Cumulative June 2, 2020 Item #2 Page 7 of 17 EXHIBIT 5 City of Carlsbad Investment Portfolio Maturities, Purchases, and Calls this Quarter Maturities CUSIP Issuer Settled Maturity Par Value Book Value Interest Total 3136G3UG8 FNMA 7/13/2016 4/13/2020 5,000,000 5,000,000 31,250 5,031,250 3132XOSAO FAMCA 12/15/2017 4/17/2020 1,500,000 1,500,000 12,300 1,512,300 57116AJP4 Marlin Bank 4/22/2015 4/22/2020 247,000 247,000 1,981 248,981 3136G3Q40 FNMA 7/28/2016 4/28/2020 3,750,000 3,750,000 23,438 3,773,438 912828K58 US Treasury 5/24/2016 4/30/2020 2,300,000 2,300,000 15,813 2,315,813 3138L14F3 FNMAAM1721 12/26/2019 4/27/2020 3,329 3,352 3,719 7,071 12,800,329 12,800,352 88,500 12,888,852 Purchases CUSIP Issuer Settled Maturity Payment Rate Par Value Dollar Price Book Value 3133ELTP9 FFCB 4/3/2020 6/16/2021 6/16/2020 0.30% 2,000,000 100.240 2,004,800 90331HPJ6 US Bank 4/3/2020 1/21/2022 7/21/2020 1.30% 2,000,000 100.846 2,016,916 478160CJ1 Johnson & Johnson 4/8/2020 1/15/2025 7/15/2020 0.91% 3,000,000 107.732 3,231,960 14042TDD6 Capital One 4/8/2020 4/8/2025 10/8/2020 1.60% 248,000 100.000 248,000 3130A4CH3 FHLB 4/9/2020 3/14/2025 9/14/2020 0.78% 3,000,000 107.710 3,231,300 3133ELWC4 FFCB 4/9/2020 4/9/2025 10/9/2020 1.15% 2,000,000 100.000 2,000,000 3133ELWC4 FFCB 4/9/2020 4/9/2025 10/9/2020 1.17% 2,500,000 99.925 . 2,498,125 66989HAP3 Novartis Capital Corp 4/13/2020 2/14/2025 8/14/2020 1.30% 3,310,000 102.102 3,379,576 3137F32Al FHMS KHGl Al 4/15/2020 11/25/2024 4/25/2020 1.00% 3,000,000 107.188 3,215;625 3133ELXC3 FFCB 4/22/2020 4/22/2024 10/22/2020 0.80% 3,000,000 100.000 3,000,000 931142DP5 Walmart 4/24/2020 4/22/2024 10/22/2020 0.88% 2,500,000 109.499 2,737,468 931142DP5 Walmart 4/24/2020 4/22/2024 10/22/2020 0.70% 2,000,000 109.593 2,191,860 3136G4VEO FNMA 4/27/2020 4/27/2023 10/27/2020 0.55% 2,000,000 100.000 2,000,000 30,558,000 103.449 31,755,630 Calls CUSIP Issuer Settled Maturity Redeemed Par Value Book Value Interest Total 3133EGSA4 FFCB 09/07/2016 08/24/2020 04/01/2020 3,000,000 2,999,827 4,070 3,004,070 3133EGLB9 FFCB 07/13/2016 07/13/2020 04/06/2020 4,250,000 4,250,000 11,660 4,261,660 3134GTEW9 FHLMC 04/23/2019 04/08/2022 04/08/2020 1,500,000 1,500,000 18,750 1,518,750 3130AGAA3 FHLB 04/15/2019 04/15/2024 04/15/2020 2,000,000 2,000,000 24,500 2,024,500 3134GTGZO FHLMC 04/15/2019 04/15/2024 04/15/2020 1,000,000 1,000,000 12,500 1,012,500 3134GTGZO FHLMC 04/15/2019 04/15/2024 04/15/2020 2,000,000 2,000,000 25,000 2,025,000 3134GUKY5 FHLMC 11/15/2019 10/21/2022 04/21/2020 2,000,000 2,001,691 18,600 2,018,600 48125LRN4 JP Morgan 11/18/2019 04/26/2021 04/27/2020 1,500,000 1,505,287 129 1,500,129 3134GTNE9 FHLMC 05/22/2019 04/28/2023 04/28/2020 5,000,000 5,000,000 65,625 5,065,625 3132XOGH8 FAMCA 01/03/2018 10/29/2021 04/29/2020 2,000,000 1,981,100 16,250 2,016,250 24,250,000 24,237,905 197,084 24,447,084 June 2, 2020 Item #2 Page 8 of 17 EXHIBIT6 City of Carlsbad Investment Summary As of Aoril 30. 2020 Settlement Maturity Type Issuer Par Invested Yield Interest Expected Return Federal Investments 11/03/17 05/15/20 FA FHLB 1,650,000.00 1,650,000.00 1.700% 71,060.00 1,721,060.00 05/22/17 05/22/20 FA FHLMC 1,200,000.00 1,200,000.00 1.625% 58,500.00 1,258,500.00 05/24/17 05/29/20 FA FHLMC 2,250,000.00 2,255,062.50 1.548% 104,523.44 2,359,585.94 06/27/17 05/29/20 FA FHLMC 1,600,000.00 1,604,000.00 1.537% 71,977.78 1,675,977.78 06/12/15 06/12/20 FA FHLB 3,000,000.00 3,000,000.00 1.750% 262,500.00 3,262,500.00 02/23/16 06/12/20 FA FHLB 2,000,000.00 2,039,980.00 1.271% 110,617.22 2,150,597.22 04/15/16 06/26/20 FA FNMA 2,150,000.00 2,159,632.00 1.240% 112,192.37 2,271,824.37 04/27/17 07/27/20 FA FHLMC 1,600,000.00 1,600,000.00 1.700% 88,400.00 1,688,400.00 01/21/16 07/29/20 FA FHLB 2,500,000.00 2,549,375.00 1.378% 157,516.67 2,706,891.67 04/19/16 08/28/20 FA FHLMC 1,000,000.00 1,017,760.00 1.230% 54,152.50 1,071,912.50 06/08/16 09/11/20 FA FHLB 3,000,000.00 3,206,160.00 1.214% 161,121.25 3,367,281.25 10/12/16 09/11/20 FA FHLB 1,800,000.00 1,808,975.18 1.244% 87,893.57 1,896,868.75 04/26/17 10/16/20 FA FNMA 1,300,000.00 1,332,019.00 1.618% 74,057.39 1,406,076.39 07/22/16 11/27/20 FA FNMA 3,250,000.00 · 3,316,612.00 1.165% 166,507.79 3,483,119.79 11/27/17 11/27/20 FA FHLMC 1,500,000.00 1,500,000.00 1.875% 84,375.00 1,584,375.00 06/15/17 11/30/20 FA FNMA 1,100,000.00 1,113,618.00 1.630% 62,404.22 1,176,022.22 03/10/17 01/15/21 FA FAMCA 1,580,000.00 1,576,287.00 2.063% 125,285.22 1,701,572.22 09/09/16 01/25/21 FA FAMCA 2,000,000.00 2,018,640.00 1.550% 117,071.11 2,135,711.11 10/12/16 02/15/21 FA TENN 3,000,000.00 3,315,660.00 1.370% 189,058.75 3,504,718.75 08/16/17 02/16/21 FA FNMA 2,000,000.00 2,000,000.00 1.750% 122,500.00 2,122,500.00 01/10/19 02/23/21 FA FFCB 1,500,000.00 1,502,895.00 2.605% 82,942.50 1,585,837.50 12/12/18 02/24/21 FA FHLB 1,000,000.00 977,940.00 2.790% 60,560.00 1,038,500.00 02/14/18 03/12/21 FA FHLB 1,500,000.00 1,500,768.00 2.357% 108,778.87 1,609,546.87 06/12/18 03/12/21 FA FHLB 1,000,000.00 976,760.00 2.631% 71,365.00 1,048,125.00 09/29/17 03/26/21 FA FHLMC 2,535,000.00 2,531,197.50 1.794% 158,701.56 2,689,899.06 01/08/19 04/09/21 FA FFCB 1,500,000.00 1,504,860.00 2.550% 86,377.50 1,591,237.50 10/26/17 04/26/21 FA FHLMC 1,975,000.00 1,974,012.50 1.865% 128,868.75 2,102,881.25 10/12/16 06/11/21 FA FHLB 1,500,000.00 1,559,427.00 1.370% 97,979.25 1,657,406.25 06/15/17 06/15/21 FA FHLMC 1,400,000.00 1,400,000.00 1.800% 100,800.00 1,500,800.00 04/03/20 06/16/21 FA FFCB 2,000,000.00 2,004,800.00 0.300% 7,227.78 2,012,027.78 10/26/16 07/14/21 FA FHLB 2,500,000.00 2,476,850.00 1.328% 155,806.25 2,632,656.25 02/16/17 07/26/21 FA FHLMC 1,400,000.00 1,392,580.00 2.000% 124,086.67 1,516,666.67 12/19/17 08/12/21 FA FHLMC 1,000,000.00 967,646.98 2.050% 73,384.27 1,041,031.25 10/28/16 10/07/21 FA FNMA 2,500,000.00 2,491,075.00 1.450% 178,794.79 2,669,869.79 11/29/16 11/29/21 FA FFCB 3,000,000.00 3,000,000.00 1.760% 264,000.00 3,264,000.00 04/12/17 12/10/21 FA FHLB 2,000,000.00 2,003,620.00 1.834% 171,171.67 2,174,791.67 09/10/19 12/13/21 FA FFCB 2,000,000.00 2,017,240.00 1.490% 67,673.33 2,084,913.33 11/04/19 01/03/22 FA FAMCA 2,000,000.00 2,002,035.34 2.169% 91,697.67 2,093,733.01 11/12/19 01/13/22 FA FHLMC 1,000,000.00 1,015,200.00 1.658% 36,324.31 1,051,524.31 03/25/19 02/03/22 FA FFCB 2,500,000.00 2,483,900.00 2.264% 161,019.44 2,644,919.44 02/23/17 02/23/22 FA FAMCA 2,600,000.00 2,609,204.00 2.025% 263,796.00 2,873,000.00 03/01/19 03/01/22 FA FFCB 2,000,000.00 2,000,000.00 2.550% 153,000.00 2,153,000.00 03/29/17 03/29/22 FA FHLMC 1,500,000.00 1,500,000.00 2.265% 170,625.00 1,670,625.00 05/25/17 04/05/22 FA FNMA 1,600,000.00 1,600,581.01 1.867% 145,252.32 1,745,833.33 01/09/20 04/05/22 FA FNMA 2,500,000.00 2,517,775.00 1.550% 87,172.92 2,604,947.92 04/27/17 04/27/22 FA FHLMC 3,500,000.00 3,545,920.00 2.345% 413,455.00 3,959,375.00 01/09/20 06/10/22 FA FHLB 3,000,000.00 3,297,270.00 1.560% 120,084.17 3,417,354.17 12/23/19 06/23/22 FA FHLB 1,500,000.00 1,500,000.00 1.730% 64,875.00 1,564,875.00 01/08/18 07/01/22 FA FHLMC 1,500,000.00 1,500,000.00 2.220% 149,202.50 1,649,202.50 07/03/19 07/01/22 FA FHLMC 2,500,000.00 2,500,000.00 2.000% 149,722.22 2,649,722.22 01/15/20 07/15/22 FA FHLMC 1,500,000.00 1,500,510.00 1.586% 59,490.00 1,560,000.00 08/28/19 08/26/22 FA FFCB 1,500,000.00 1,499,565.00 1.860% 83,530.83 1,583,095.83 12/01/17 09/09/22 FA FHLB 1,750,000.00 1,739,692.50 2.130% 177,335.28 1,917,027.78 07/05/19 09/09/22 FA FHLB 1,800,000.00 1,874,106.00 1.786% 104,644.00 1,978,750.00 01/15/20 09/09/22 FA FHLB 2,000,000.00 2,021,180.00 1.590% 84,820.00 2,106,000.00 03/09/20 09/09/22 FA FFCB 1,000,000.00 1,000,000.00 1.500% 37,500.00 1,037,500.00 09/28/17 09/28/22 FA FNMA 2,500,000.00 . 2,500,000.00 2.000% 249,861.11 2,749,861.11 03/09/18 10/05/22 FA FNMA 1,000,000.00 971,120.00 2.000% 120,324.44 1,091,444.44 10/05/18 10/05/22 FA FNMA 1,000,000.00 962,570.00 3.000% 117,430.00 1,080,000.QO 09/10/19 12/09/22 FA FHLB 1,500,000.00 1,670,736.00 1.630% 84,545.25 1,755,281.25 04/24/18 12/09/22 FA FHLB 2,250,000.00 2,215,102.50 2.500% 295,053.75 2,510,156.25 07/05/19 12/23/22 FA FHLMC 1,500,000.00 1,500,000.00 2.000% 104,416.67 1,604,416.67 01/06/20 01/06/23 FA FAMCA 2,000,000.00 2,000,000.00 1.750% 105,000.00 2,105,000.00 03/22/19 03/10/23 FA FHLB 2,000,000.00 2,028,220.00 2.375% 189,946.67 2,218,166.67 03/16/20 03/16/23 FA FFCB 2,500,000.00 2,500,000.00 1.050% 78,750.00 2,578,750.00 04/27/20 04/27/23 FA FNMA 2,000,000.00 2,000,000.00 0.550% 33,000.00 2,033,000.00 06/04/18 06/26/23 FA FHLMC 1,250,000.00 1,250,000.00 3.050% 190,625.00 1,440,625.00 06/28/19 06/26/23 FA FHLMC 3,000,000.00 3,000,000.00 2.050% 246,000.00 3,246,000.00 June 2, 2020 Item #2 Page 9 of 17 Settlement Maturity Type Issuer Par Invested Yield Interest Expected Return 07/24/18 06/29/23 FA FHLMC 1,000,000.00 1,000,000.00 3.100% 152,847.22 1,152,847.22 07/30/18 07/28/23 FA FHLMC 2,500,000.00 2,500,000.00 3.070% 383;323.61 2,883,323.61 09/13/19 08/14/23 FA FFCB 1,800,000.00 1,796,580.00 1.650% 116,300.00 _ 1,912,880.00 09/13/19 08/28/23 FA FFCB 1,000,000.00 997,650.00 1.982% 78:350.00 1,076,000.00 08/24/18 08/24/23 FA FHLB 1,750,000.00 1,750,000.00 3.125% 273,437.50 2,023,437.50 09/18/18 09/05/23 FA FFCB 1,000,000.00 991,290.00 2.990% 147,698.89 1,138,988.89 10/10/18 09/05/23 FA FFCB 2,300,000.00 2,266,190.00 3.125% 349,548.89 2,615,738.89 09/03/19 09/08/23 FA FHLB 2,000,000.00 2,069,108.00 1.485% 121,551.72 2,190,659.72 02/27/19 09/12/23 FA FNMA 1,000;000.00 1,016,210.00 2.495% 114,362.92 1,130,572.92 04/16/19 09/12/23 FA FNMA 1,750,000.00 1,783,757.50 2.410% 187,617.50 1,971,375.00 09/18/18 09/18/23 FA FHLB 1,000,000.00 999,250.00 3.076% 153,750.00 1,153,000.00 09/28/18 09/28/23 FA FHLB 1,250,000.00 1,250,000.00 3.200~ 200,000.00 1,450,000.00 10/17/18 10/02/23 FA FFCB 2,500,000.00 2,493,150.00 3.050% 384,922.92 2,878,072.92 02/07/19 10/23/23 FA FFCB 1,000,000.00 1,017,530.00 2.602% 123,803.33 1,141,333.33 05/09/19 11/08/23 FA · FFCB 2,000,000.00 2,001,700.00 2.280% 205,172.22 2,206,872.22 11/27/18 11/27/23 FA FHLB 1,800,000.00 1,800,000.00 3.350% 301,500.00 2,101,500.00 12/13/19 11/27/23 FA FHLMC 1,965,000.00 1,964,017.50 1.788% 138,947,33 2,102,964.83 06/28/19 12/05/23 FA FFCB 1,500,000.00 1,569,280.50 1.870% 127,682.83 1,696,963.33 12/18/19 12/18/23 FA FHLMC 1,500,000.00 1,500,000.00 1.850% 111,000.00 1,611,000.00 05/09/19 12/20/23 FA FFCB 1,000,000.00 1,052,900.00 3.500% 108,586.11 1,161,486.11 12/28/18 12/28/23 FA FHLB 2,000,000.00 2,000,000.00 3.100% 310,000.00 2,310,000.00 01/29/19 01/29/24 FA FHLB 1,500,000.00 1,501,125.00 2.859% 214,500.00 1,715,625.00 02/26/19 02/26/24 FA FHLB 2,500,000.00 2,500,000.00 2.800% 350,000.00 2,850,000.00 03/06/19 02/27/24 FA FFCB 1,500,000.00 1,498,950.00 2.610% 195,821.25 1,694,771.25 02/28/20 02/28/24 FA FFCB 2,500,000.00 2,500,000.00 1.550% 155,000.00 2,655,000.00 03/08/19 0;'!/08/24 FA FHLB 3,000,000.00 3,100,851.00 2.530% 386,649.00 3,487,500.00 03/12/20 03/12/24 FA FFCB 3,000,000.00 3,000,000.00 1.050% 126,000.00 3,126,000.00 04/09/19 04/05/24 FA FFCB 2,000,000.00 1,994,380.00 2.360% 234,725.56 2,229,105.56 04/22/20 04/22/24 FA FFCB 3,000,000.00 3,000,000.00 0.800% 96,000.00 3,096,000.00 02/07/20 05/06/24 FA FFCB 2,000,000.00 1,999,000.00 1.783% 151,351.67 2,150,351.67 05/09/19 05/07/24 FA FHLB 1,000,000.00 1,005,320.00 2.287% 114,546.67 1,119,866.67 05/20/19 05/20/24 FA FHLMC 2,500,000.00 2,500,000.00 2.700% 337,500.00 2,837,500.00 12/19/19 06/03/24 FA FFCB 3,000,000.00 2,997,750.00 1.830% 246,860.00 3,244,610.00 03/03/20 06/03/24 FA FFCB 1,500,000.00 1,500,000.00 1.670% 106,462.50 1,606,462.50 08/28/19 06/30/24 FA FFCB 1,470,000.00 1,517,378.10 1.457% 103,884.90 1,621,263.00 08/28/19 '06/25/24 FA FFCB 1,183,000.00 1,237,524.47 1.457% 85,320.92 1,322,845.39 07/30/19 06/26/24 FA FHLMC 2,000,000.00 2,004,000.00 2.150% 229,013.89 2,233,013.89 07/02/19 07/02/24 FA FHLMC 2,500,000.00 2,500,000.00 2.000% 250,000.00 2,750,000.00 06/27/19 07/15/24 FA PEFCO 2,500,000.00 2,565,850.00 1.900% 243,292.36 2,809,142.36 08/08/19 07/26/24 FA FFCB 2,500,000.00 2,532,125.00 1.582% 197,583.33 2,729,708.33 02/12/20 08/12/24 FA FHLMC 2,000,000.00 2,000,000.00 1.800% 162,000.00 2,162,000.00 09/03/19 09/03/24 FA FFCB 4,000,000.00 4,000,000.00 2.000% 400,000.00 4,400,000.00 08/30/19 09/10/24 FA FFCB 2,500,000.00 2,572,420.00 1.480% 189,024.44 2,761,444.44 09/23/19 09/23/24 FA FHLMC 1,000,000.00 1,000,000.00 2.100% 10,500.00 1,010,500.00 10/15/19 10/15/24 FA FFCB 2,000,000.00 2,000,000.00 1.920% 192,000.00 2,192,000.00 10/28/19 10/15/24 FA FHLMC 2,500,000.00 2,496,692.71 1.917% 235,989.58 2,732,682.29 10/18/19 10/16/24 FA FHLB 2,250,000.00 2,250,250.00 2.000% 224,500.00 2,474,750.00 11/15/19 11/01/24 FA FAMCA 2,000,000.00 1,999,720.00 1.793% 177,887.78 2,177,607.78 11/19/19 11/19/24 FA FHLB 3,000,000.00 3,000,000.00 2.070% 310,500.00 3,310,500.00 01/10/20 01/10/25 FA FHLMC 2,000,000.00 2,000,000.00 1.800% 180,000.00 2,180,000.00 01/15/20 01/15/25 FA FHLMC 2,000,000.00 2,000,000.00 1.900% 190,000.00 2,190,000.00 02/10/20 02/10/25 FA FHLB 2,500,000.00 2,496,875.00 1.866% 233,125.00 2,730,000.00 02/12/20 02/12/25 FA FHLMC 1,500,000.00 1,500,000.00 1.800% 680,000.00 2,180,000.00 02/14/20 02/14/25 FA FHLMC 2,500,000.00 2,500,000.00 1.850% 231,250.00 2,731,250.00 03/06/20 02/21/25 FA FHLB 2,000,000.00 2,009,827.00 1.050% 183,548.00 2,193,375.00 04/09/20 03/14/25 FA FHLB 3,000,000.00 3,231,300.00 0.778% 120,002.08 3,351,302.08 04/09/20 04/09/25 FA FFCB 2,000,000.00 2,000,000.00 1.150% 115,000.00 2,115,000.00 04/09/20 04/09/25 FA FFCB 2,500,000.00 2,498,125.00 1.165% 145,625.00 2,643,750.00 Sub Total FA 245,558,000.00 247,678,216.79 1.890% 20,484,598.94 268,162,815.73 10/23/15 10/15/20 FN RFCSP 3,000,000.00 2,750,760.00 1.750% 249,240.00 3,000,000.00 Sub Total FN 3,000,000.00 2,750,760.00 1.750% 249,240.00 3,000,000.00 Federal Investments 248,558,000.00 250,428,976. 79 20,733,838.94 271,162,815.73 Supranationals 08/03/17 08/10/20 SN IBRD 2,000,000.00 1,972,100.00 1.600% 95,837.50 2,067,937.50 11/08/18 09/04/20 SN IBRD 1,100,000.00 1,074,711.00 2.930% 57,859.27 1,132,570.27 01/08/18 10/05/20 SN IBRD 1,500,000.00 1,486,500.00 2.164% 88,765.62 1,575,265.62 01/08/18 01/18/22 SN IADB 2,000,000.00 1,988,880.00 2.270% 182,300.56 2,171,180.56 12/18/17 01/26/22 SN IBRD 2,500,000.00 2,485,325.00 2.150% 219,952.78 2,705,277.78 10/10/17 10/07/22 SN IBRD 1,300,000.00 1,290,907.89 2.024% 130,763.88 1,421,671.77 02/08/19 10/24/22 SN IFC 1,500,000.00 ·1,470, 780.00 2.553% 140,553.33 1,611,333.33 June 2, 2020 Item #2 Page 10 of 17 Settlement Maturity Type Issuer Par Invested Yield Interest Expected Return 05/09/19 10/24/23 SN IADB 2,000,000.00 2,058,280.00 2.300% 205,886.67 2,264,166.67 01/18/18 01/18/23 SN IADB 1,700,000.00 1,702,652.00 2.467% 209,848.00 1,912,500.00 01/24/18 01/18/23 SN IADB 1,000,000.00 997,670.00 2.550% 126,913.33 1,124,583.33 02/19/20 01/27/23 SN IBRD 1,170,000.00 1,170,538.20 1.734% 59,635.55 1,230,173.75 10/25/19 10/25/23 SN IBRD 3,000,000.00 3,000,000.00 1.700% 204,000.00 3,204,000.00 02/15/19 02/15/24 SN IBRD 3,000,000.00 3,000,000.00 2.625% 468,750.00 3,468,750.00 08/29/19 08/28/24 SN IBRD 2,000,000.00 2,006,920.00 1.428% 142,996.67 2,149,916.67 10/10/19 09/23/24 SN IBRD 3,500,000.00 3,510,500.00 2.136% 370,863.89 3,881,363.89 12/10/19 09/23/24 SN IBRD 3,000,000.00 3,006,000.00 1.941% 310,066.67 3,316,066.67 11/13/19 11/13/24 SN IBRD 1,500,000.00 1,500,000.00 2.050% 153,750.00 1,653,750.00 03/26/20 12/12/24 SN IBRD 3,500,000.00 3,522,505.00 1.096% 329,777.78 3,829,777.78 01/08/20 12/15/24 SN IBRD 1,425,000.00 1,425,000.00 1.700% 119,577.30 1,544,577.30 01/27/20 01/15/25 SN IFC 1,000,000.00 1,000,000.00 1.625% 80,708.33 1,080,708.33 Supranationals 39,695,000.00 39,669,269.09 1.826% 3,698,807.13 43,345,571.22 US Treasury 12/19/16 06/30/20 TR US Treasury 1.625% 1,350,000.00 1,345,570.31 1.721% 81,926.29 1,427,496.60 12/02/16 07/31/20 TR US Treasury 1.625% 1,500,000.00 1,500,000.00 1.625% 89,286.68 1,589,286.68 06/07/17 07/31/20 TR US Treasury 1.625% 2,000,000.00 2,011,320.00 1.440% 91,028.07 2,102,348.07 09/22/15 08/31/20 TR US Treasury 2.125% 3,000,000.00 3,085,500.00 2.097% 229,396.98 3,314,896.98 10/28/16 10/31/20 TR US Treasury 1.375% 1,750,000.00 1,759,570.31 1.235% 86,875.85 1,846,446.16 12/02/16 10/31/20 TR US Treasury 1.375% 1,200,000.00 1,186,200.00 1.680% 78,341.44 1,264,541.44 01/13/17 10/31/20 TR US Treasury 1.375% 1,300,000.00 1,289,234.38 1.601% 78,611.61 1,367,845.99 01/05/16 12/31/20 TR US Treasury 2.375% 4,000,000.00 4,127,500.00 1.705% 346,195.00 4,473,695.00 05/05/16 12/31/20 TR US Treasury 1.75% 2,000,000.00 2,049,174.00 1.205% 113,710.62 2,162,884.62 01/20/17 02/28/21 TR US Treasury 1.125% 2,750,000.00 2,673,515.63 1.831% 203,567.42 2,877,083.05 02/17/17 02/28/21 TR US Treasury 1.125% 1,225,000.00 1,194,853.52 1.760% 85,690.25 1,280,543.77 05/09/17 03/31/21 TR US Treasury 1.25% 1,400,000.00 1,374,786.00 1.730% 93,349.25 1,468,135.25 08/19/16 04/30/21 TR US Treasury 1.375% 3,000,000.00 3,037,662.00 1.100% 156,145.74 3,193,807.74 12/16/16 05/31/21 TR US Treasury 2.000% 2,250,000.00 2,250,000.00 2.000% 200,521.98 2,450,521.98 10/28/16 06/30/21 TR US Treasury 1.125% 2,500,000.00 2,477,400.00 1.325% 154,053.80 2,631,453.80 12/16/16 06/30/21 TR US Treasury 1.125% 2,650,000.00 2,547,312.50 2.022% 238,058.93 2,785,371.43 02/06/20 07/15/21 TR US Treasury 2.625% 3,000,000.00 3,048,960.00 1.475% 64,405.38 3,113,365.38 01/20/17 07/31/21 TR US Treasury 1.125% 1,500,000.00 1,448,203.13 1.925% 145,113.79 1,593,316.92 02/20/18 08/31/21 TR US Treasury 1.125% 2,000,000.00 1,911,080.00 2.450% 168,167.24 2,079,247.24 12/02/16 09/30/21 TR US Treasury 2.125% 1,600,000.00 1,615,500.00 1.913% 148,615.38 1,764,115.38 03/10/17 09/30/21 TR US Treasury 1.125% 1,200,000.00 1,150,500.00 2.078% 111,028.85 1,261,528.85 05/19/17 09/30/21 TR US Treasury 1.125% 1,500,000.00 1,464,375.00 1.691% 109,303.28 1,573,678.28 02/14/18 09/30/21 TR US Treasury 2.125% 1,500,000.00 1,486,406.25 2.387% 129,096.84 1,615,503.09 11/17/16 10/31/21 TR US Treasury 2.00% 2,000,000.00 2,030,000.00 1.683% 168,121.55 2,198,121.55 11/18/16 10/31/21 TR US Treasury 2.00% 2,000,000.00 2,028,360.00 1.700% 169,651.15 2,198,011.15 11/22/16 11/15/21 TR US Treasury 2.00% 2,000,000.00 2,016,562.50 1.825% 182,664.02 2,199,226.52 01/06/17 12/31/21 TR US Treasury 2.125% 4,000,000.00 4,052,128.00 1.850% 371,463.16 4,423,591.16 02/03/17 12/31/21 TR US Treasury 2.125% 1,850,000.00 1,867,632.81 1.920% 175,237.36 2,042,870.17 11/27/19 12/31/21 TR US Treasury 2.125% 2,000,000.00 2,022,656.25 1.572% 66,270.38 2,088,926.63 01/20/17 01/31/22 TR US Treasury 1.50% 3,000,000.00 2,928,555.00 2.000% 297,790.11 3,226,345.11 04/23/19 02/28/22 TR US Treasury 1.875% 1,500,000.00 1,481,015.63 1.875% 99,232.33 1,580,247.96 03/02/17 03/31/22 TR US Treasury 1.750% 3,000,000.00 2,963,925.00 2.000% 302,757.69 3,266,682.69 11/20/19 04/15/22 TR US Treasury 2.25% 1,200,000.00 1,219,125.00 1.571% 45,719.26 1,264,844.26 05/15/17 05/15/22 TR US Treasury 1.750% 2,000,000.00 1,985,625:00 1.901% 189,375.00 2,175,000.00 08/25/17 07/31/22 TR US Treasury 1.875% 1,250,000.00 1,257,346.25 1.750% 108,249.03 1,365,595.28 08/31/17 08/31/22 TR US Treasury 1.875% 3,000,000.00 3,019,290.00 1.740% 261,960.00 3,281,250.00 11/20/19 10/15/22 TR US Treasury 1.375% 1,500,000.00 1,491,720.00 1.570% 68,126.31 1,559,846.31 02/27/20 10/15/22 TR US Treasury 1.375% 1,500,000.00 1,509,082.03 1.141% 45,185.39 1,554,267.42 11/28/17 11/15/22 TR US Treasury 1.625% 1,000,000.00 980,950.00 2.030% 99,716.44 1,080,666.44 07/30/19 02/28/23 TR u_s Treasury 2.625% 3,000,000.00 3,085,572.00 1.800% 275,650.83 3,361,222.83 US Treasury 81,97S,000.00 81,974,168.50 1.746% 6,129,660.68 88,103,829.18 Corporate Notes 11/03/15 05/06/20 CN Apple Inc. 4,000,000.00 4,028,000.00 1.837% 332,666.66 4,360,666.66 05/24/16 05/15/20 CN IBM Corp 1,500,000.00 1,503,000.00 1.573% 93,890.62 1,596,890.62 11/03/15 08/07/20 CN 3M Company 3,500,000.00 3,554,215.00 1.660% 279,062.78 3,833,277.78 09/25/15 09/01/20 CN Johnson & Johnson 1,000,000.00 1,058,028.49 1.718% 87,504.84 1,145,533.33 09/24/15 09/15/20 CN Automatic Data Processing 4,000,000.00 4,029,600.00 2.090% 418,150.00 4,447,750.00 11/10/15 11/03/20 CN Microsoft 5,000,000.00 5,018,550.00 1.920% 479,505.56 5,498,055.56 06/10/16 11/03/20 CN Microsoft 1,500,000.00 1,539,450.00 1.370% 92,466.67 1,631,916.67 11/13/17 11/13/20 CN Apple Inc. 2,500,000.00 2,497,900.00 2.000% 152,100.00 2,650,000.00 01/07/19 12/15/20 CN Wal-Mart 1,500,000.00 1,481,805.00 2.545% 73,453.33 1,555,258.33 06/29/17 12/29/20 CN Toyota 3,000,000.00 3,000,000.00 2.000% 210,000.00 3,210,000.00 02/26/18 01/15/21 CN Wells Fargo Bank NA 2,000,000.00 1,982,700.00 2.914% 167,377.77 2,150,077.77 04/28/16 03/01/21 CN Exxon Mobil 2,000,000.00 2,042,900.00 1.750% 172,263.67 2,215,163.67 07/26/16 03/01/21 CN Exxon Mobil 1,000,000.00 1,034,050.00 1.440% 68,038.55 1,102,088.55 09/16/16 04/08/21 CN Toyota 3,000,000.00 . 3,031,680.00 1.659% 228,303.33 3,259,983.33 11/18/19 04/26/21 CN US Bank NA 1,000,000.00 1,019,220.00 1.710% 26,105.00 1,045,325.00 June 2, 2020 Item #2 Page 11 of 17 Settlement 06/13/18 05/26/16 04/17/17 05/14/17 02/06/20 09/13/16 02/07/17 02/22/18 10/14/16 01/10/18 12/19/19 10/10/17 12/04/17 12/23/19 04/03/20 12/20/17 11/29/19 03/07/19 02/24/20 03/06/17 05/23/17 12/06/17 01/08/18 10/09/18 02/19/19 01/06/20 08/09/18 12/11/19 02/20/20 12/19/19 08/24/17 01/16/19 07/01/19 11/06/17 11/09/18 05/02/19 01/18/18 10/10/19 01/04/18 09/17/18 11/18/19 12/06/17 01/14/19 12/23/19 01/24/18 08/29/19 09/12/19 07/31/19 10/04/19 03/20/18 04/18/18 04/25/18 05/07/18 12/18/18 05/16/19 05/02/18 05/09/18 08/06/16 07/25/18 02/19/19 07/24/18 01/24/19 02/28/19 12/11/18 02/28/19 10/01/18 12/23/19 01/28/19 03/07/19 01/16/20 05/16/19 Maturity Type Issuer 05/16/21 CN Chevron 05/19/21 CN Alphabet Inc. 05/19/21 CN Alphabet Inc. 05/19/21 CN Alphabet Inc. 07 /23/21 CN Wells Fargo Bank NA 08/08/21 CN Microsoft 08/08/21 CN Microsoft 08/08/21 CN Microsoft 09/01/21 CN Coca Cola Company 09/01/21 CN Coca Cola Company 10/22/21 CN Wells Fargo Bank 11/03/21 CN Procter & Gamble 11/15/21 CN Colgate-Palmolive 11/16/21 CN US.Bank NA 01/21/22 CN US Bank NA 02/06/22 CN Microsoft 02/09/22 CN Apple Inc. 03/03/22 CN Johnson & Johnson 03/03/22 CN Johnson & Johnson 03/06/22 CN Exxon Mobil 05/11/22 CN Apple Inc. 05/15/22 CN Berkshire Hathaway 05/15/22 CN Berkshire Hathaway 05/15/22 CN Berkshire Hathaway 05/17/22 CN Toyota 05/27 /22 CN Wells Fargo Bank NA 06/01/22 CN Blackrock Inc. 06/15/22 CN Cisco Systems Inc 06/20/22 CN JP Morgan Chase Bank 06/26/22 CN . 3M Company 07 /13/22 CN Toyota 07 /13/22 CN Toyota 07 /13/22 CN Toyota 08/11/22 CN Procter & Gamble 08/11/22 CN Procter & Gamble 08/11/22 CN Procter & Gamble 09/21/22 CN Novartis Capital Corp 11/03/22 CN Microsoft 11/15/22 CN Colgate-Palmolive 11/15/22 CN Colgate-Palmolive 11/18/22 · CN JP Morgan Chase Bank 11/29/22 CN Toyota 12/15/22 CN Wal-Ma rt 12/15/22 CN Wal-Ma rt 01/26/23 CN Toyota 02/01/23 CN Colgate-Palmolive 02/11/23 CN Berkshire Hathaway 02/23/23 CN Apple Inc. 03/15/23 CN 3M Company 03/15/23 CN Berkshire Hathaway 03/15/23 CN Berkshire Hathaway 03/15/23 CN Berkshire Hathaway 04/11/23 CN Wal-Ma rt 04/11/23 CN Wal-Mart 04/28/23 CN Bank of New York Mellon 05/01/23 CN Colgate-Palmolive 05/03/23 CN Apple Inc. 06/26/23 CN Wal-Ma rt 06/26/23 CN Wal-Ma rt 06/26/23 CN Wal-Mart 07 /24/23 CN US Bank NA 07 /24/23 CN US Bank NA 07 /24/23 CN US Bank NA 07 /24/23 CN US Bank NA 08/14/23 CN Wells Fargo Bank NA 08/14/23 CN Wells Fargo Bank NA 11/20/23 CN State Street Corporation 12/05/23 CN Johnson & Johnson 01/08/24 CN Toyota 01/15/24 CN Wal-Mart 01/23/24 CN Citibank Par . 3,250,000.00 1,000,000.00 2,000,000.00 2,000,000.00 3,500,000.00 6,000,000.00 2,000,000.00 1,500,000.00 3,600,000.00 1,500,000.00 4,000,000.00 2,000,000.00 2,250,000.00 3,000,000.00 2,000,000.00 1,250,000.00 2,000,000.00 1,250,000.00 2,000,000.00 2,000,000.00 3,300,000.00 1,503,000.00 1,000,000.00 1,100,000.00 2,000,000.00 3,000,000.00 1,000,000.00 500,000.00 3,000,000.00 2,000,000.00 1,500,000.00 1,500,000.00 2,500,000.00 1,800,000.00 1,900,000.00 i,000,000.00 1,500,000.00 2,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 2,250,000.00 2,720,000.00 2,000,000.00 3,000,000.00 1,000,000.00 1,250,000.00 3,500,000.00 1,762,000.00 1,000,000.00 1,750,000.00 2,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 4,666,000.00 4,000,000.00 1,750,000.00 1,500,000.00 1,000,000.00 1,250,000.00 1,000,000.00 1,800,000.00 2,500,000.00 2,000,000.00 1,500,000.00 2,000,000.00 1,500,000.00 1,000,000.00 2,000,000.00 1,000,000.00 Invested 3,175,770.00 1,094,000.00 2,136,700.00 2,133,400.00 3,507,848.93 5,995,740.00 1,947,120.00 1,441,912.50 3,581,496.00 1,549,740.00 4,122,000.00 1,982,100.00 2,271,141:00 3,091,620.00 2,016,916.00 1,254,025.00 2,017,980.00 1,236,787.50 2,029,760.00 2,003,380.00 3,318,150.00 1,540,770.39 1,023,300.00 1,091,810.50 2,000,000.00 3,040,020.00 1,011,600.00 515,230.00 3,000,000.00 2,010,920.00 1,547,160.00 1,483,770.00 · 2,551,875.00 1,799,161.20 1,826,627.70 1,986,800.00 1,489,500.00 2,087,293.89 1,982,400.00 1,935,820.00 3,000,000.00 2,250,000.00 2,653,088.00 2,032,580.00 3,000,000.00 1,011,600.00 1,296,137.50 3,592,680.00 1,800,613.35 983,890.00 1,719,130.00 1,953,300.00 974,100.00 969,800:00 2,061,800.00 4,443,179.84 3,862,600.00 1,763,895.00 1,512,000.00 1,025,140.00 1,251,625.00 1,010,000.00 1,835,100.00 2,489,250.00 2,040,700.00 1,500,000.00 2,130,440.00 1,541,250.00 1,017,865.00 2,067,790.00 1,034,870.00 Yield 2.920% 1.651% 1.883% 1.900% 1.741% 1.565% 2.170% 2.730% 1.660% 2.344% 1.851% 1.930% 2.200% 1.730% 1.300% 2.316% 1.730% 2.620% 1.470% 2.360% 2.181% 2.400% 2.432% 3.220% 3.083% 1.920% 3.050% 1.755% 1.775% 1.777% 2.119% 3.129% 2.090% 2.160% 3.250% 2.150% 2.560% 1.514% 2.443% 3.077% 3.077% 2.125% 3.020% 1.770% 2.750% 1.600% 1.878% 2.039% 1.620% 3.101% 3.140% 3.270% 3.121% 3.301% 2.670% 3.140% 3.150% 3.220% 3.220% 2.770% 3.371% 3.156% 2.916% 3.400% 3.050% 3.550% 1.958% 2.765% 2.950% 1.900% 2.836% Interest Expected 273,861.25 86,545.14 159,744.44 159,620.83 110,314.37 460,218.33 192,466.11 138,558.33 290,839.00 130,522.50 145,041.67 156,072.22 196,449.62 104,742.50 47,884.00 119,808.33 76,381.11 97,275.00 61,365.00 236,320.00 358,820.00 162,504.36 107,283.33 126,989.50 200,044.66 167,839.75 117,306.25 22,436.67 124,250.00 89,857.78 158,056.67 162,880.00 160,458.33 185,201.30 226,786.74 154,025.00 178,400.00 75,092.22 236,475.00 251,430.00 189,000.00 238,132.81 317,442.89 107,375.56 412,500.00 55,133.33 81,883.33 262,540.83 97,611.27 153,228.06 267,083.54 315,588.89 151,558.33 141,054.17 214,700.00 712,477.98 615,800.00 276,993.89 238,891.66 122,665.56 210,756.94 143,000.00 234,520.00 32,347.22 276,038.89 259,297.92 158,776.67 204,421.87 144,144.72 192,646.11 136,173.06 Return 3,449,631.25 1,180,545.14 2,296,444.44 2,293,020.83 3,618,163.30 6,455,958.33 2,139,586.11 1,580,470.83 3,872,335.00 1,680,262.50 4,267,041.67 2,138,172.22 2,467,590.62 3,196,362.50 2,064,800.00 1,373,833.33 2,094,361.11 1,334,062.50 2,091,125.00 2,239,700.00 3,676,970.00 1,703,274.75 1,130,583.33 1,218,800.00 2,200,044.66 3,207,859.75 1,128,906.25 537,666.67 3,124,250.00 2,100,777.78 1,705,216.67 1,646,650.00 2,712,333.33 1,984,362.50 2,053,414.44 2,140,825.00 1,667,900.00 2,162,386.11 2,218,875.00 2,187,250.00 3,189,000.00 2,488,132.81 2,970,530.89 2,139,955.56 3,412,500.00 1,066,733.33 1,378,020.83 3,855,220.83 1,898,224.62 1,137,118.06 1,986,213.54 2,268,888.89 1,125,658.33 1,110,854.17 2,276,500.00 5,155,657.82 4,478,400.00 2,040,888.89 1,750,891.66 1,147,805.56 1,462,381.94 1,153,000.00 2,069,620.00 2,521,597.22 2,316,738.89 1,759,297.92 2,289,216.67 1,745,671.87 1,162,009.72 2,260,436.11 1,171,043.06 June 2, 2020 Item #2 Page 12 of 17 Settlement Maturity Type Issuer Par Invested Yield Interest Expected Return 08/13/19 08/13/24 CD HSBC Bank 246,000.00 246,000.00 2.300% 28,290.00 274,290.00 08/30/19 08/30/24 CD Washington Federal 249,000.00 249,000.00 2.000% 24,900.00 273,900.00 09/13/19 09/13/24 CD Enerbank Usa 249,000.00 249,000.00 1.750% 21,787.50 270,787.50 09/18/19 09/30/24 CD Celtic Bank 249,000.00 249,208.75 1.700% 20,747.50 269,9S6.25 11/26/19 11/26/24 CD Raymond James Bank NA 247,000.00 247,000.00 1.850% 22,872.54 269,872.54 01/09/20 01/09/25 CD Morgan Stanley Bank NA 247,000.00 247,000.00 1.900% 23,490.72 270,490.72 02/27/20 02/27/25 CD Bell Bank Corp 249,000.00 249,000.00 1.600% 19,941.88 268,941.88 02/28/20 02/28/25 CD Congressional Bank 249,000.00 248,377.50 1.750% 22,433.88 270,811.38 03/13/20 03/13/25 CD Choice Financial Group 248,000.00 248,000.00 1.100% 13,647.47 261,647.47 03/13/20 03/13/25 CD American Eagle bank 249,000.00 249,000.00 1.100% 13,702.54 262,702.54 03/18/20 03/18/2S CD Poppy Bank 249,000.00 249,000.00 1.100% 13,702.54 262,702.54 03/19/20 03/19/25 CD Somerset Trust 249,000.00 249,000.00 1.000% 12,456.88 261,456.88 03/20/20 03/20/25 CD Iberia Bank 248,000.00 248,000.00 1.000% 12,406.79 260,406.79 03/27/20 03/27/25 CD Baycoast Bank 248,000.00 248,000.00 0.950% 11,786.45 2S9,786.45 03/27/20 03/27/25 CD American Commerce Bank 249,000.00 249,000.00 0.950% 11,834.03 260,834.03 04/08/20 04/08/25 CD Capital One 248,000.00 248,000.00 1.600% 19,850.88 267,850.88 Certificate of Deposit 17,037,000.00 17,035,034.26 2.176% 1,722,161.48 18,757,195.74 Mortgage Backed Securities (Agency) 12/26/19 12/01/22 NM FNMAAM1721 1,907,502.34 1,920,616.41 2.001% 61,237.20 1,981,853.61 02/04/20 11/01/22 NM FNMAAM0982 2,000,000.00 2,036,562.50 1.704% 27,844.88 2,064,407.38 04/15/20 11/25/24 NM FHMS KHGl Al 3,000,000.00 3,215,625.00 0.999% 1,505.28 3,217,130.28 Mortgage Backed Securities (Agency) 6,907,502.34 7,172,803.91 1.467% 90,587.36 7,263,391.27 Cash Cash Wells Fargo Bank -General 3,264,997.00 3,264,997.00 0.100% 268.36 3,265,265.36 Cash Sweep Account 4,141,287.09 4,141,287.09 0.060% 204.23 4,141,491.32 Cash Wells Fargo Bank -Custody 930,027.27 930,027.27 0.010% 7.75 930,035.02 Cash CAMP 1,003,039.36 1,003,039.36 0.850% 700.75 1,003,740.11 Cash LAIF City 71,206,247.27 71,206,247.27 1.470% 87,227.65 71,293,474.92 Cash LAIF CMWD 71,076,059.26 71,076,059.26 1.470% 87,068.17 71,163,127.43 Cash LAIF CPFA 42,039,739.20 42,039,739.20 1.470% 51,498.68 42,091,237.88 Cash LAIF CPIC 1.470% Cash 193,661,396.45 193,661,396.45 1.407% 226,975.59 193,888,372.04 GRAND TOTAL 808,184,898.79 813,482,526.28 1.836% 51,957,630.19 865,417,651.47 June 2, 2020 Item #2 Page 14 of 17 City of Carlsbad Investment Portfolio Fund Equity in Pooled Investments As of April 30, 2020 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 Capital Project Subtotal Enterprise: Carlsbad Municipal Water District Sewer Fund Solid Waste Storm Water Golf Course Enterprise Subtotal Internal Service Trust and Agency Total General Ledger Balance ** Reconciling Adjustments (1) 43,426,125 24,484,894 28,271,298 12,444,383 7,932,954 5,822,055 109,731,183 122,504,433 15,980,131 136,479,567 49,761,693 6,328,130 8,401,521 1,283,184 Total Treasurer's Investment Portfolio at Amortized Cost **Figures based on best estimate at the time report run on 5/8/2020. 139,607,077 37,645,388 370,597,456 202,254,095 50,735,662 16,757,518 817,597,196 (5,267,955) 812,329,241 (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. EXHIBIT 7 June 2, 2020 Item #2 Page 15 of 17 City of Carlsbad Investment Portfolio Corporate Note and Commercial Paper Ratings As of April 30, 2020 Corporate Notes Moody's S&P Fitch Outlook 3M Company Al A+ Negative/Negative Alphabet Inc. Aa2 AA+ Stable Amazon.com Inc. A2 AA-A+ Positive/Stab le/Positive Apple Inc. Aal AA+ Stable Automatic Data Processing Aa3 AA Stable Bank of New York Mellon Al A AA-Stable Berkshire Hathaway Aa2 AA AA-Stable Blackrock Inc. Aa3 AA-Stable Chevron Aa2 AA Stable/Negative Cisco Systems Inc. Al AA-Stable Citibank A3 BBB+ A Stable/Stable/Negative Coca Cola Company Al A+ A Stable/Negative/Stable Colgate-Palmolive Aa3 AA-Stable Exxon Mobil Aal AA Negative IBM Corp. A2 A Stable/Negative Johnson & Johnson Aaa AAA Negative/Stable JP Morgan Chase Bank A2 A-AA-Stable/Stable/Negative Merck & Co Al AA-A+ Stable/Negative/Stable Microsoft Aaa AAA AA+ Stable New York Life Aaa AA+ AAA Negative/Stable/Stable Novartis Capital Corp Al AA- AA-Stable Procter & Gamble Aa3 AA-Stable State Street Corporation Al A AA-Stable Toyota Al AA-A+ Negative US Bank NA Al A+ AA-Stable/Stable/Negative Wal-Mart Aa2 AA AA Stable Wells Fargo Bank NA A2 A-A+ Stable/Negative/Negative Mortgage Backed Securities Moody's S&P Fitch Outlook FNMA (AM1721) Aaa AAA Stable FNMA (AM0982) Aaa AAA Stable FHMS (KHGl Al) Aaa AAA Stable Ratings of corporate notes must be AA or better by one and A or better another of the three: Moody's, S&P, or Fitch. Ratings of mortgage backed securities must be AA or better by one of the three: Moody's, S&P, or Fitch. · Investments with Subsequent Changes in Credit Rating * EXHIBITS Corporate Notes Moody's S&P Fitch Maturity Date Purchased Book Value 3M Company Al A+ 06/26/22 12/19/19 8,875,179 Citibank A3 BBB+ A 01/23/24 05/16/19 7,426,080 Coca Cola Company Al A+ A 09/01/21 01/10/18 5,113,156 IBM Corp. A2 A 05/15/20 05/24/16 1,500,029 Wells Fargo Bank NA A2 A-A+ 08/14/23 02/04/20 16,164,719 * All investments were in compliance with the city's Investment Policy when initially purchased. The city's Investment Policy allows the city treasurer to determine the course of action that would correct exceptions to tlie policy. All current exceptions are paying interest at the required times. The principals 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. June 2, 2020 Item #2 Page 16 of 17 City of Carlsbad Investment Portfolio Issuers Portfolio Allocation at Amortized Cost As of April 30, 2020 Corporate Notes 3M Company Alphabet Inc. Amazon.com Inc. Apple Inc. Automatic Data Processing Bank of New York Mellon Berkshire Hathaway Blackrock Inc. Chevron Cisco Systems Inc. Citibank Coca Cola Company Colgate-Palmolive Exxon Mobil IBM Corp Johnson & Johnson JP Morgan Chase Bank Microsoft Novartis Capital Corp Procter & Gamble State Street Corporation Toyota US Bank NA Wal-Mart Wells Fargo Bank NA Mortgage Backed Securities (Agency) FHLMC FNMA Federal Agencies Federal Agricultural Mortgage Corp. Federal Farm Credit Bank Federal Home Loan Bank . Federal Home Loan Mortgage Corp. Federal National Mortgage Assoc. Private Export Funding Corp. RFCO STRIPS Tennessee Valley Authority Other Supra nation a I US Treasury Certificate of Deposits Cash Total Portfolio Amortized Cost $ Amortized Cost $ 8,875,179 5,089,577 4,668,567 19,311,936 4,002,215 5,138,866 9,609,374 5,266,363 3,223,565 512,871 7,426,080 5,113,156 11,751,451 5,014,805 1,500,029 10,910,930 13,483,919 19,273,307 4,873,479 7,639,286 2,118,573 19,818,750 12,680,257 19,438,042 16,164,719 Amortized Cost 3,215,625 3,957,179 Amortized Cost 12,184,115 72,004,444 70,655,367 60,690,066 25,678,342 2,554,869 2,977,118 3,057,356 Amortized Cost 39,739,571 82,012,434 17,036,063 193,661,396 812,329,241 ================ * No more than 5% may be invested with a single issuer. **There are no percentage limits on federal agency issuers. EXHIBIT9 Portfolio Allocation* 1.09% 0.63% 0.57% 2.38% 0.49% 0.63% 1.18% 0.65% 0.40% 0.06% 0.91% 0.63% 1.45% 0.62% 0.18% 1.34% 1.66% 2.37% 0.60% 0.94% 0.26% 2.44% 1.56% 2.39% 1.99% Portfolio Allocation* 0.40% 0.49% Portfolio Allocation** 1.50% 8.86% 8.70% 7.47% 3.16% 0.31% 0.37% 0.38% Portfolio Allocation 4.89% 10.10% 2.10% 23.84% June 2, 2020 Item #2 Page 17 of 17