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2020-11-17; City Council; ; Report on City Investments as of Sept. 30, 2020
CITY COUNCIL Staff Report CA Review CKM Meeting Date: Nov. 17, 2020 To: Mayor and City Council From: Scott Chadwick, City Manager Staff Contact: Craig Lindholm, City Treasurer craig.lindholm@carlsbadca.gov, 760-602-2473 Laura Rocha, Deputy City Manager, Administrative Services laura.rocha@carlsbadca.gov, 760-602-2415 Subject: Report on City Investments as of Sept. 30, 2020 Recommended Action Accept and file Report on City Investments as of Sept. 30, 2020. Executive Summary The city's Investment Policy requires the city treasurer to report the status of the city's pooled investment portfolio to the City Council each month. Discussion & Fiscal Analysis The city's pooled investment portfolio as of the month ending Sept. 30, 2020 is summarized below. Pooled investment portfolio (cash and securities) Current month Prior month Par value' $770,929,764 $781,721,709 Investment cost $778,173,611 $789,231,362 Amortized cost2 $776,884,284 $787,852,526 Market value3 $790,472,780 $802,149,520 (1) The face value of the investments. (2) The cost of investments adjusted for amortized premiums and discounts. (3) The amount at which the investments could be sold. Source of market value is Wells Fargo Bank's custodial report. The equity portion of the various funds in the total portfolio is summarized in the graph below. Fund balances are restricted for various purposes. (See Exhibit 7 for a more detailed breakdown.) Nov. 17, 2020 Item #1 Page 1 of 20 Fund equity in pooled investments Sept. 30, 2020 ($ in millions) Agency/trust $18 Special revenue $34 I nternalservice Capital projects $51 $372 General $111 Enterprise $194 Pooled investment interest income Year to date Current month Prior month Cash income $4,153,307 $1,278,492 $1,201,024 The cash income received is adjusted for any accrued interest purchased. Pooled investment performance Average life (years) Yield to maturity Modified duration July 2020 1.92 1.61% 1.84 Aug. 2020 2.62 1.54% 2.33 Sept. 2020 1.82 1.50% 1.75 All pooled investments have been made in accordance with the city's Investment Policy, which was adopted Jan. 2, 1985, and last revised Dec. 17, 2019. All investments were initially made in accordance with the city's Investment Policy, however, events after the purchase might have resulted in non-compliance with the current policy. These events are typically a change in the credit rating after a purchase, a change in the city's Investment Policy or a temporary reduction in total portfolio assets. Exhibit 2 shows the city's investments by class as a percentage of the total portfolio. The city's Investment Policy states that not more that 30% of the portfolio is to be invested in corporate notes at time of purchase. All corporate note purchases, when made, resulted in a corporate note percentage of the total portfolio lower than 30% in accordance with the Investment Policy. Exhibit 8 shows the investments out of compliance with the current policy that experienced a subsequent change in credit rating. Ratings on five investments have dropped to less than the rating required by the Investment Policy. Corporate notes require a "split rating" of AA from Nov. 17, 2020 Item #1 Page 2 of 20 one rating company and an A rating from a second. Mortgage backed securities require an AA rating from one rating company. 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. Next Steps The report on city investments will continue to be produced monthly by the city treasurer. Environmental Evaluation (CEQA) This action does not constitute a "project" within the meaning of the California Environmental Quality Act under California Public Resources Code Section 21065 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 Public notice of this item was posted in accordance with the Ralph M. Brown Act and it was available for public viewing and review at least 72 hours prior to the scheduled meeting date. 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, calls, and purchases this quarter 6. Detailed investment report 7. Fund equity in pooled investments 8. Corporate note and mortgage backed security ratings 9. Portfolio allocation at amortized cost by issuer 10. Investments of bond proceeds held separately 11. Summary of outstanding housing loans Nov. 17, 2020 Item #1 Page 3 of 20 City of Carlsbad investment portfolio As of Sept. 30, 2020 Investments by cost, market value, cash income, and average yield by class Class Investment cost Market value Average yield Current month Prior month Current month Prior month YTD income Current month Prior month FA $231,102,000 $241,704,502 $236,733,019 $245,288,200 $ 1,351,733 1.54% 1.59% FN 3,000,000 3,000,000 2,999,850 2,999,310 1.75 1.75 SN 30,095,000 37,697,169 30,890,866 38,506,280 257,826 1.74 1.83 TR 74,125,000 74,031,778 75,450,993 75,532,696 335,881 1.74 1.74 CN 225,289,000 231,511,080 235,955,010 237,578,196 1,441,876 2.02 2.02 CD 18,840,000 18,589,378 19,597,232 19,255,968 87,422 1.83 1.89 MBS (agency) 9,007,979 9,388,144 9,375,025 9,430,319 49,602 1.28 1.28 MBS (non-agency) 0.00 0.00 Bank account 3,266,515 3,506,954 3,266,515 3,506,954 0.01 0.10 Sweep 3,001,792 12,894,456 3,001,792 12,894,456 580 0.03 0.03 IRT 2,247,701 1,202,619 2,247,701 1,202,619 68 0.01 0.01 CAMP 1,005,408 1,005,153 1,005,408 1,005,153 993 0.25 0.28 LAIF 169,949,370 154,949,370 169,949,370 154,949,370 627,325 0.65 0.72 Total $770,929,764 $789,480,602 $790,472,780 $802,149,520 $4,153,307 1.50% 1.54% FA - Federal agency notes FN - Federal discount notes SN - Supranational TR - US Treasury CN - Corporate notes CD - Certificate of deposit MBS - Passthrough/mortgage backed securities Bank account - General cash account Sweep - Overnight cash account IRT - Investment cash account CAMP - California Asset Management Program LAIF - Local Area Investment Fund City of Carlsbad investment portfolio As of Sept. 30, 2020 Maturities by classification and length of time at market value Class Within 6 months 7 to 12 months 1 to 5 years Total % Total FA $23,416,168 $11,401,210 $201,915,642 $236,733,019 29.95% FN 2,999,850 - 2,999,850 0.38 SN 1,500,315 - 29,390,551 30,890,866 3.91 TR 15,684,571 19,907,273 39,859,149 75,450,993 9.55 CN 15,543,925 27,215,095 193,195,990 235,955,010 29.85 (2) CD 747,549 2,014,009 16,835,674 19,597,232 2.48 MBS (agency) 102,000 102,000 9,171,025 9,375,025 1.19 (3) MBS (non-agency) - - 0.00 (4) Bank account 3,266,515 - - 3,266,515 0.41 Sweep 3,001,792 - 3,001,792 0.38 IRT 2,247,701 - 2,247,701 0.28 CAMP 1,005,408 - 1,005,408 0.13 LAIF 169,949,370 169,949,370 21.50 Totals $239,465,162 $60,639,586 $490,368,032 $790,472,780 100.0% % Totals 30.3% 7.7% 62.0% 100.0% Total within One Year $300,104,748 (1) 38.0% Policy: (1) Not less than $195,096,000 to mature within one year, two-thirds of FY 20-21 operating budget of $292,643,525. (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. rn X z t ro oo 0 ro In 71" c-1 CD t 0 C. ID 0 C. 'a a tC o 0 Be ga ntra cking published data for CAMP at ti me of investment, Ja n. 2019. 2.00 2.80 2.60 2.40 2.20 2.00 1.80 g. 1.60 -0 1.40 5-- 1.20 1.00 0.80 0.60 0.40 0.20 0.00 Market rate (%) EXHIBIT 3 City of Carlsbad investment portfolio Yield comparison Portfolio yield ex pool money investment accounts(PMIA) vs CAMP yield vs LAIF yield Portfolio ex P MIA CAMP LAIF City of Carlsbad investment portfolio Market yield curve Fiscal yearend compared to current 2.50 1.50 1.00 0.50 0.00 3 month 2 year 5 year 10 year -4-FY 2018-19 end 2.09 1.74 1.76 2.00 FY 2019-20 end 0.13 0.16 0.31 0.68 9/30/2020 0.10 0.13 0.28 0.69 Nov. 17, 2020 Item #1 Page 6 of 20 EXHIBIT 4 City of Carlsbad investment portfolio Cumulative cash income 13-month comparison 18 17 $17.03 16 15 14 13 12 11 10 9 8 7 6 $4.45 5 4 3 2 $1.34 $1.72 $1.24 $1.24 $1.75 $1.00 $1.58 $1-79 $1.16 $1.10 $1.67 $1.20 $1.28 1 III III In 11111 Sept Oct Nov Dec Jan Feb Mar Apr May June Jul Aug Sep --=1 FY 2019-20 FY 2020-21 = FY 2019-20 cumulative FY 2020-21 cumulative Nov. 17, 2020 Item #1 Page 7 of 20 Interest income ($ in millions) $4.15 OZ Jo 8 aed T#W OZOZ ‘L.T AON 1717Z'OLS'1717 EEL'I9Z'VV 000 'V17 000`OLZ 000,0SZ'T 000'OSZ'T OZOZ/8Z/60 EZOZ/8Z/60 810z/8z/60 811-1J 8£A3VOEIE 005'010'I 000'000'T 000'000'T 0z0z/Ez/60 6'z0z/Ez/60 610z/Ez/60 Z0811917EIE 000'E£O'S ZIO'SOO'S 000'000'E 0zoz/Ez/60 vz0z/Ez/60 660z/90/z1 O2181 IDH8S06SV 00S'8ES'E 0817'805'£ 00000S'E Oz0z/Ez/60 vzoz/Ez/60 610z/0T/01 CHI 1EI-18506517 00£`STO'T OSS'666 000'000'1 0z0z/81/60 EZOZ/81/60 810Z/81/60 81Hd EAATVOETE 000`00S‘Z 000,009`Z 000'005`Z OZOZ/91/60 EZOZ/91/E0 OZOZ/9I/E0 8DJJ 8ZS13EETE 000'0170'17 000'000'V 000'000't 0Z0Z/E0/60 17Z0Z/£0/60 610Z/20/60 8DJd TVH)13EETE 009'6001 6TZ'866 000'000'T OZOZ/8Z/80 EZ0Z/8Z/80 6I0Z/EI/60 indd Z179)13 £ 000'6VZ ££17'8VZ 000'617Z OZOZ/8Z/80 SZOZ/8Z/Z0 OZOZ/8Z/Z0 >fuee ieuoissaAuoj EN8V9ZLOZ SL8'ETS'T 60L'6617'1 000'005'I OZ0Z/9Z/80 ZZ0Z/9Z/80 610Z/8Z/80 EIDJJ LZDOEETE VVE'LLL'I 000'0SL'I 000`05L'I 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see) vso`oss'sz VS6'SVZ 001I7OE'SZ 1Z9'IOE'SZ 980'L 589`£ TOVE 8LE'E 0101/51/60 6101/91/zT TZLI VV\INd EIVI18ETE LEZ'T 169 9175 EVS 0101/51/60 OZOZ/VZ/LO 8Sald tW3SISOE OSL'OSZ OSL'Z 000'8171 000'8171 OZOZ/91/60 ST0Z/ZZ/60 sAepes VNINOVL90 LSS'9S L68'2 T99`ZS 8SZ'OS 0Z0Z/S6/60 OZOZ/LZ/80 17172£ 8Hd D1A1Hd 6M9386£TE SLE'ZI8'I SLE'ZI 000'008'I 000'008'1 0Z0Z/II/60 9101/ZI/OI 8-IHd 8DAA 08££IE SZI'EVO'E SZVE17 000'000'E 000`000`E 0Z0Z/II/60 9101/80/90 811-Id SSIIOLEETE 166'617Z 168 000'6171 000'6171 0101/01/60 STOZ/01/60 lopJav\I OXHfET069 £176'80I'T £176'8 000'00I'T 000'001'T 0101/170/60 8101/80/11 20181 W98506517 OSL`VI 000'000'T 000'0001 0101/10/60 5101/51/60 UOSULIOf 17 U0S1.1110( 17MVO9T8LV SL8'I£0'E SL8'IE 000'000'E 000'000'E 0101/12/80 SIOZ/ZZ/60 11S11 6AA8Z8ZI6 051'800`I OSZ'8 000'000'T 000'000'T 0101/81/80 9101/61/170 DIA11HJ 962E917E-GE 680'L Z69'E I6E'S 89E'E 0ZOZ/SZ/80 6101/91/11 TZLTIAJV VIAINd 817I18ETE 9EZ'T 169 17175 ZVS 010z/sz/80 ozoz/vz/Lo EISRIJ VW3SIETE £917'617Z 8917'Z 000'LVZ 000'LVZ Oz0z/sz/80 sT0z/5z/80 1S3ANI Of3d9LT917 OSZ'ITO'Z OSVII 000'000'1 000'000'1 0101/0I/80 LI0Z/E0/80 02191 OIA018906917 000'SES'E 000'SE 000'00S'E 000'00S'E 0Z0Z/L0/80 S10Z/E0/II WINN 170VA6LS88 ETO'LVZ ET 000'L171 000'LVZ OZOZ/£0/80 LI0Z/Z0/80 X1M SAJDLE6Z6 OZ17'617Z 0117 000'617Z 000'6171 OZO1/TE/L0 STOZ/IE/LO s2u!nes lod uop.111.4su I 61Vd08LSV 88I'ZI 000`005'I 000`00S'T OZOZ/TE/LO 9101/ZO/Z I Ainseau sn L171X818ZI6 051'910'Z OSZ'9T 000'000'Z 000'000`Z OZOZ/T £40 LTOZ/L0/90 /Unseal' So L17JX8Z8ZI6 SL8'ZZS'Z SL8'ZZ 000`00S`Z 000'00S'Z OZOZ/6Z/L0 910Z/TZ/T0 811-id LLZSVOEIE 008`909`1 008'9 000'009'1 000`009`I OZOZ/LZ/LO LI0Z/LZ/170 DIAllHd 80H8OVETE 9£I'L 085`£ LSS'E ZES`£ OZOZ/LZ/LO 6101/91/ZI IZLTIAJV VV\1Nd 817118E1£ 1.50.101.L11 amen wog anien Jed Alpineol PoIlleS Janssi dISID samirnevu OZOZ 'OE '1claS 10 sV J e n b sii saseipind pue 'sue D 'sailunleA oppiod luawlsanu peqspep lo Amp S 114:11HX3 Purchases EXHIBIT 5 CUSIP Issuer Settled Maturity Payment Rate Par value Dollar price Book value 3136G4XZ1 FNMA 07/01/2020 06/30/2025 12/30/2020 0.74% 2,500,000 100.000 2,500,000 06406HCV9 Bank of NY Mellon Corp 07/10/2020 05/15/2024 11/15/2020 0.56% 3,000,000 110.562 3,316,860 3133EC2D5 FFCB 07/10/2020 11/13/2024 11/13/2020 0.39% 1,621,000 108.042 1,751,361 46625H1X9 JP Morgan 07/13/2020 05/13/2024 11/13/2020 0.70% 3,000,000 111.043 3,331,290 47816001 Johnson & Johnson 07/13/2020 01/15/2025 07/15/2020 0.51% 1,000,000 109.064 1,090,640 3133ELU77 FFCB 07/15/2020 10/15/2024 10/15/2020 0.61% 4,000,000 100.000 4,000,000 740367MA2 Preferred Bank 07/17/2020 07/17/2025 08/17/2020 0.50% 249,000 100.000 249,000 30315EAA4 FRESB Multifamily Mortgaf 07/24/2020 05/25/2025 08/25/2020 0.83% 1,000,000 100.489 1,004,891 3133ELX66 FFCB 07/24/2020 07/22/2024 01/22/2021 0.44% 2,000,000 100.000 2,000,000 89235MJZ5 Toyota FinS Bank 07/28/2020 07/28/2025 01/28/2021 0.65% 249,000 100.000 249,000 211163KQ2 Continental Bank 07/29/2020 07/29/2025 08/29/2020 0.50% 249,000 100.000 249,000 3133ELZ80 FFCB 07/29/2020 07/29/2025 01/29/2021 0.58% 3,000,000 100.000 3,000,000 3133EL3P7 FFCB 08/12/2020 08/12/2025 02/12/2021 0.53% 3,500,000 100.000 3,500,000 3135005R0 FNMA 08/13/2020 08/10/2023 02/10/2021 0.34% 2,000,000 99.880 1,997,600 3136G4C43 FNMA 08/14/2020 08/14/2025 02/14/2021 0.65% 2,000,000 100.000 2,000,000 549104RV1 Luana Savings Bank 08/14/2020 08/14/2025 02/14/2021 0.45% 249,000 100.000 249,000 32022RNT0 1st Financial Bank 08/19/2020 08/19/2025 09/19/2020 0.45% 249,000 100.000 249,000 31944MBB0 1st Carolina Bank 08/20/2020 08/20/2025 09/20/2020 0.45% 249,000 100.000 249,000 664122AF5 Northeast Community Ban 08/20/2020 08/20/2025 09/20/2020 0.45% 249,000 100.000 249,000 313604K77 FNMA 08/21/2020 08/21/2025 02/21/2021 0.45% 2,000,000 100.000 2,000,000 3134GWMN3 FHLMC 08/27/2020 02/27/2025 02/27/2021 0.52% 2,500,000 100.000 2,500,000 31398E6W9 FHLMC FHR 3544 BC 08/27/2020 06/15/2024 09/15/2020 0.53% 1,168,960 104.781 1,224,851 3136G4X24 FNMA 08/31/2020 08/29/2025 02/28/2021 0.60% 3,000,000 100.000 3,000,000 228212AQ9 Crown Bank 09/04/2020 09/04/2025 10/04/2020 0.40% 249,000 100.000 249,000 31340 W156 FHLMC 09/09/2020 06/09/2023 03/09/2021 0.27% 3,500,000 100.000 3,500,000 3134GWB47 FHLMC 09/11/2020 12/03/2024 03/03/2021 0.45% 1,250,000 100.000 1,250,000 3137EAEU9 FHLMC 09/14/2020 07/21/2025 01/21/2021 0.38% 1,500,000 99.975 1,499,625 59013KKJ4 Merrick 09/15/2020 09/15/2025 10/15/2020 0.40% 249,000 100.000 249,000 51507LBY9 Landmark Community Ban l 09/29/2020 09/28/2025 10/28/2020 0.40% 249,000 100.000 249,000 46,029,960 101.512 46,957,118 Nov. 17, 2020 Item #1 Page 9 of 20 EXHIBIT 6 City of Carlsbad Investment summary As of Sep. 31, 2020 Settlement Maturity Issuer Par Invested Yield Interest expected Return 04/26/17 10/16/20 FNMA 1,300,000.00 1,332,019.00 1.618% 74,057.39 1,406,076.39 07/22/16 11/27/20 FNMA 3,250,000.00 3,316,612.00 1.165% 166,507.79 3,483,119.79 11/27/17 11/27/20 FHLMC 1,500,000.00 1,500,000.00 1.875% 84,375.00 1,584,375.00 06/15/17 11/30/20 FNMA 1,100,000.00 1,113,618.00 1.630% 62,404.22 1,176,022.22 03/10/17 01/15/21 FAMCA 1,580,000.00 1,576,287.00 2.063% 125,285.22 1,701,572.22 09/09/16 01/25/21 FAMCA 2,000,000.00 2,018,640.00 1.550% 117,071.11 2,135,711.11 10/12/16 02/15/21 TENN 3,000,000.00 3,315,660.00 1.370% 189,058.75 3,504,718.75 08/16/17 02/16/21 FNMA 2,000,000.00 2,000,000.00 1.750% 122,500.00 2,122,500.00 01/10/19 02/23/21 FFCB 1,500,000.00 1,502,895.00 2.605% 82,942.50 1,585,837.50 12/12/18 02/24/21 FHLB 1,000,000.00 977,940.00 2.790% 60,560.00 1,038,500.00 02/14/18 03/12/21 FHLB 1,500,000.00 1,500,768.00 2.357% 108,778.87 1,609,546.87 06/12/18 03/12/21 FHLB 1,000,000.00 976,760.00 2.631% 71,365.00 1,048,125.00 09/29/17 03/26/21 FHLMC 2,535,000.00 2,531,197.50 1.794% 158,701.56 2,689,899.06 01/08/19 04/09/21 FFCB 1,500,000.00 1,504,860.00 2.550% 86,377.50 1,591,237.50 10/26/17 04/26/21 FHLMC 1,975,000.00 1,974,012.50 1.865% 128,868.75 2,102,881.25 10/12/16 06/11/21 FHLB 1,500,000.00 1,559,427.00 1.370% 97,979.25 1,657,406.25 06/15/17 06/15/21 FHLMC 1,400,000.00 1,400,000.00 1.800% 100,800.00 1,500,800.00 04/03/20 06/16/21 FFCB 2,000,000.00 2,004,800.00 0.300% 7,227.78 2,012,027.78 10/26/16 07/14/21 FHLB 2,500,000.00 2,476,850.00 1.328% 155,806.25 2,632,656.25 02/16/17 07/26/21 FHLMC 1,400,000.00 1,392,580.00 2.000% 124,086.67 1,516,666.67 12/19/17 08/12/21 FHLMC 1,000,000.00 967,646.98 2.050% 73,384.27 1,041,031.25 10/28/16 10/07/21 FNMA 2,500,000.00 2,491,075.00 1.450% 178,794.79 2,669,869.79 11/29/16 11/29/21 FFCB 3,000,000.00 3,000,000.00 1.760% 264,000.00 3,264,000.00 04/12/17 12/10/21 FHLB 2,000,000.00 2,003,620.00 1.834% 171,171.67 2,174,791.67 09/10/19 12/13/21 FFCB 2,000,000.00 2,017,240.00 1.490% 67,673.33 2,084,913.33 11/04/19 01/03/22 FAMCA 2,000,000.00 1,998,180.00 2.169% 95,553.01 2,093,733.01 11/12/19 01/13/22 FHLMC 1,000,000.00 1,015,200.00 1.658% 36,324.31 1,051,524.31 03/25/19 .02/03/22 FFCB 2,500,000.00 2,483,900.00 2.264% 161,019.44 2,644,919.44 02/23/17 02/23/22 FAMCA 2,600,000.00 2,609,204.00 2.025% 263,796.00 2,873,000.00 03/01/19 03/01/22 FFCB 2,000,000.00 2,000,000.00 2.550% 153,000.00 2,153,000.00 03/29/17 03/29/22 FHLMC 1,500,000,00 1,500,000.00 2.265% 170,625.00 1,670,625.00 05/25/17 04/05/22 FNMA 1,600,000.00 1,600,581.01 1.867% 145,252.32 1,745,833.33 01/09/20 04/05/22 FNMA 2,500,000.00 2,517,775.00 1.550% 87,172.92 2,604,947.92 04/27/17 04/27/22 FHLMC 3,500,000.00 3,545,920.00 2.345% 413,455.00 3,959,375.00 05/19/20 04/27/22 FFCB 2,000,000.00 2,003,480.00 0.210% 8,136.67 2,011,616.67 01/09/20 06/10/22 FHLB 3,000,000.00 3,297,270.00 1.560% 120,084.17 3,417,354.17 06/30/20 06/30/22 FHLMC 3,000,000.00 3,000,000.00 0.300% 18,000.00 3,018,000.00 01/15/20 07/15/22 FHLMC 1,500,000.00 1,500,510.00 1.586% 59,490.00 1,560,000.00 12/01/17 09/09/22 FHLB 1,750,000.00 1,739,692.50 2.130% 177,335.28 1,917,027.78 07/05/19 09/09/22 FHLB 1,800,000.00 1,874,106.00 1.786% 104,644.00 1,978,750.00 01/15/20 09/09/22 FHLB 2,000,000.00 2,021,180.00 1.590% 84,820.00 2,106,000.00 09/28/17 09/28/22 FNMA 2,500,000.00 2,500,000.00 2.000% 249,861.11 2,749,861.11 03/09/18 10/05/22 FNMA 1,000,000.00 971,120.00 2.000% 120,324.44 1,091,444.44 05/20/20 10/05/22 FNMA 1,923,000.00 2,005,439.01 0.190% 8,903.49 2,014,342.50 10/05/18 10/05/22 FNMA 1,000,000.00 962,570.00 3.000% 117,430.00 1,080,000.00 09/10/19 12/09/22 FHLB 1,500,000.00 1,670,736.00 1.630% 84,545.25 1,755,281.25 04/24/18 12/09/22 FHLB 2,250,000.00 2,215,102.50 2.500% 295,053.75 2,510,156.25 01/06/20 01/06/23 FAMCA 2,000,000.00 2,000,000.00 1.750% 105,000.00 2,105,000.00 03/22/19 03/10/23 FHLB 2,000,000.00 2,028,220.00 2.375% 189,946.67 2,218,166.67 04/27/20 04/27/23 FNMA 2,000,000.00 2,000,000.00 0.550% 33,000.00 2,033,000.00 09/09/20 06/09/23 FHLMC 3,500,000.00 3,500,000.00 0.270% 25,987.50 3,525,987.50 08/13/20 08/10/23 FNMA 2,000,000.00 1,997,600.00 0.300% 20,350.00 2,017,950.00 05/11/20 08/11/23 FFCB 2,250,000.00 2,250,000.00 0.500% 36,562.50 2,286,562.50 09/13/19 08/14/23 FFCB 1,800,000.00 1,796,580.00 1.650% 116,300.00 1,912,880.00 09/18/18 09/05/23 FFCB 1,000,000.00 991,290.00 2.990% 147,698.89 1,138,988.89 10/10/18 09/05/23 FFCB 2,300,000.00 2,266,190.00 3.125% 349,548.89 2,615,738.89 09/03/19 09/08/23 FHLB 2,000,000.00 2,069,108.00 1.485% 121,551.72 2,190,659.72 02/27/19 09/12/23 FNMA 1,000,000.00 1,016,210.00 2.495% 114,362.92 1,130,572.92 04/16/19 09/12/23 FNMA 1,750,000.00 1,783,757.50 2.410% 187,617.50 1,971,375.00 10/17/18 10/02/23 FFCB 2,500,000.00 2,493,150.00 3.050% 384,922.92 2,878,072.92 02/07/19 10/23/23 FFCB 1,000,000.00 1,017,530.00 2.602% 123,803.33 1,141,333.33 05/09/19 11/08/23 FFCB 2,000,000.00 2,001,700.00 2.280% 205,172.22 2,206,872.22 11/27/18 11/27/23 FHLB 1,800,000.00 1,800,000.00 3.350% 301,500.00 2,101,500.00 12/13/19 11/27/23 FHLMC 1,965,000.00 1,964,017.50 1.788% 138,947.33 2,102,964.83 06/28/19 12/05/23 FFCB 1,500,000.00 1,569,280.50 1.870% 127,682.83 1,696,963.33 05/13/20 12/08/23 FHLB 1,000,000.00 1,107,630.00 0.339% 12,838.75 1,120,468.75 12/18/19 12/18/23 FHLMC 1,500,000.00 1,500,000.00 1.850% 111,000.00 1,611,000.00 Nov. 17, 2020 Item #1 Page 10 of 20 Settlement Maturity Issuer Par Invested Yield Interest expected Return 05/09/19 12/20/23 FFCB 1,000,000.00 1,052,900.00 3.500% 108,586.11 1,161,486.11 12/28/18 12/28/23 FHLB 2,000,000.00 2,000,000.00 3.100% 310,000.00 2,310,000.00 01/29/19 01/29/24 FHLB 1,500,000.00 1,501,125.00 2.859% 214,500.00 1,715,625.00 05/13/20 01/30/24 FHLMC 2,000,000.00 2,000,000.00 0.550% 40,852.78 2,040,852.78 02/26/19 02/26/24 FFILB 2,500,000.00 2,500,000.00 2.800% 350,000.00 2,850,000.00 03/06/19 02/27/24 FFCB 1,500,000.00 1,498,950.00 2.610% 195,821.25 1,694,771.25 02/28/20 02/28/24 FFCB 2,500,000.00 2,500,000.00 1.550% 155,000.00 2,655,000.00 03/08/19 03/08/24 FHLB 3,000,000.00 3,100,851.00 2.530% 386,649.00 3,487,500.00 03/12/20 03/12/24 FFCB 3,000,000.00 3,000,000.00 1.050% 126,000.00 3,126,000.00 04/09/19 04/05/24 FFCB 2,000,000.00 1,994,380.00 2.360% 234,725.56 2,229,105.56 04/22/20 04/22/24 FFCB 3,000,000.00 3,000,000.00 0.800% 96,000.00 3,096,000.00 05/09/19 05/07/24 FHLB 1,000,000.00 1,005,320.00 2.287% 114,546.67 1,119,866.67 12/19/19 06/03/24 FFCB 3,000,000.00 2,997,750.00 1.830% 246,860.00 3,244,610.00 06/03/20 06/03/24 FFCB 2,000,000.00 2,000,000.00 0.580% 46,400.00 2,046,400.00 08/28/19 06/25/24 FFCB 1,183,000.00 1,237,524.47 1.457% 85,320.92 1,322,845.39 08/28/19 06/30/24 FFCB 1,470,000.00 1,517,378.10 1.457% 103,884.90 1,621,263.00 07/02/19 07/02/24 FHLMC 2,500,000.00 2,500,000.00 2.000% 250,000.00 2,750,000.00 06/27/19 07/15/24 PEFCO 2,500,000.00 2,565,850.00 1.900% 243,292.36 2,809,142.36 07/24/20 07/22/24 FFCB 2,000,000.00 2,000,000.00 0.440% 35,151.11 2,035,151.11 08/08/19 07/26/24 FFCB 2,500,000.00 2,532,125.00 1.582% 197,583.33 2,729,708.33 08/30/19 09/10/24 FFCB 2,500,000.00 2,572,420.00 1.480% 189,024.44 2,761,444.44 10/15/19 10/15/24 FFCB 2,000,000.00 2,000,000.00 1.920% 192,000.00 2,192,000.00 10/28/19 10/15/24 FHLMC 2,500,000.00 2,495,000.00 1.917% 237,682.29 2,732,682.29 07/15/20 10/15/24 FFCB 4,000,000.00 4,000,000.00 0.610% 103,700.00 4,103,700.00 10/18/19 10/16/24 FHLB 2,250,000.00 2,250,000.00 2.000% 224,750.00 2,474,750.00 11/15/19 11/01/24 FAMCA 2,000,000.00 1,999,720.00 1.793% 177,887.78 2,177,607.78 07/10/20 11/13/24 FFCB 1,621,000.00 1,751,360.82 0.390% 28,694.40 1,780,055.22 09/11/20 12/03/24 FHLMC 1,250,000.00 1,250,000.00 0.450% 23,781.25 1,273,781.25 01/10/20 01/10/25 FHLMC 2,000,000.00 2,000,000.00 1.800% 180,000.00 2,180,000.00 01/15/20 01/15/25 FHLMC 2,000,000.00 2,000,000.00 1.900% 190,000.00 2,190,000.00 02/12/20 02/12/25 FHLMC 1,500,000.00 1,500,000.00 1.800% 680,000.00 2,180,000.00 04/09/20 03/14/25 FHLB 3,000,000.00 3,231,300.00 0.778% 120,002.08 3,351,302.08 04/09/20 04/09/25 FFCB 2,000,000.00 2,000,000.00 1.150% 115,000.00 2,115,000.00 04/09/20 04/09/25 FFCB 2,500,000.00 2,498,125.00 1.165% 145,625.00 2,643,750.00 06/03/20 05/27/25 FFCB 3,500,000.00 3,499,300.00 0.734% 128,024.17 3,627,324.17 06/03/20 05/28/25 FHLMC 2,000,000.00 2,000,000.00 0.750% 74,791.66 2,074,791.66 06/11/20 06/11/25 FHLMC 2,000,000.00 2,000,000.00 0.750% 75,000.00 2,075,000.00 06/30/20 06/30/25 FHLMC 3,000,000.00 3,000,000.00 0.770% 115,500.00 3,115,500.00 07/01/20 06/30/25 FNMA 2,500,000.00 2,500,000.00 0.740% 92,448.61 2,592,448.61 09/14/20 07/21/25 FHLMC 1,500,000.00 1,499,625.00 0.380% 27,671.87 1,527,296.87 07/29/20 07/29/25 FFCB 3,000,000.00 3,000,000.00 0.580% 87,000.00 3,087,000.00 08/12/20 08/12/25 FFCB 3,500,000.00 3,500,000.00 0.530% 92,750.00 3,592,750.00 08/14/20 08/14/25 FNMA 2,000,000.00 2,000,000.00 0.650% 65,000.00 2,065,000.00 08/21/20 08/21/25 FNMA 2,000,000.00 2,000,000.00 0.450% 45,000.00 2,045,000.00 08/27/20 08/27/25 FHLMC 2,500,000.00 2,500,000.00 0.520% 58,500.00 2,558,500.00 08/31/20 08/29/25 FNMA 3,000,000.00 3,000,000.00 0.600% 89,900.00 3,089,900.00 Sub total FA 231,102,000.00 233,189,741.89 1.542% 15,809,305.34 248,999,047.23 10/23/15 10/15/20 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 234,102,000.00 235,940,501.89 16,058,545.34 251,999,047.23 Supranationals 01/08/18 10/05/20 I BRD 1,500,000.00 1,486,500.00 2.164% 88,765.62 1,575,265.62 01/08/18 01/18/22 IADB 2,000,000.00 1,988,880.00 2.270% 182,300.56 2,171,180.56 12/18/17 01/26/22 IBRD 2,500,000.00 2,485,325.00 2.150% 219,952.78 2,705,277.78 10/10/17 10/07/22 IBRD 1,300,000.00 1,290,907.89 2.024% 130,763.88 1,421,671.77 02/08/19 10/24/22 IFC 1,500,000.00 1,470,780.00 2.553% 140,553.33 1,611,333.33 05/09/19 10/24/23 IADB 2,000,000.00 2,058,280.00 2.300% 205,886.67 2,264,166.67 01/18/18 01/18/23 IADB 1,700,000.00 1,702,652.00 2.467% 209,848.00 1,912,500.00 01/24/18 01/18/23 IADB 1,000,000.00 997,670.00 2.550% 126,913.33 1,124,583.33 02/19/20 01/27/23 IBRD 1,170,000.00 1,170,538.20 1.734% 59,635.55 1,230,173.75 10/25/19 10/25/23 IBRD 3,000,000.00 3,000,000.00 1.700% 204,000.00 3,204,000.00 02/15/19 02/15/24 IBRD 3,000,000.00 3,000,000.00 2.625% 468,750.00 3,468,750.00 08/29/19 08/28/24 IBRD 2,000,000.00 2,006,920.00 1.428% 142,996.67 2,149,916.67 11/13/19 11/13/24 IBRD 1,500,000.00 1,500,000.00 2.050% 153,750.00 1,653,750.00 03/26/20 12/12/24 IBRD 3,500,000.00 3,522,505.00 1.096% 329,777.78 3,829,777.78 01/08/20 12/15/24 IBRD 1,425,000.00 1,425,000.00 1.700% 119,577.30 1,544,577.30 01/27/20 01/15/25 IFC 1,000,000.00 1,000,000.00 1.625% 80,708.33 1,080,708.33 Supranationals 30,095,000.00 30,105,958.09 1.740% 2,864,179.80 32,947,632.89 Nov. 17, 2020 Item #1 Page 11 of 20 Settlement Maturity Issuer Par Invested Yield Interest expected Return US Treasury 10/28/16 10/31/20 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 US Treasury 2.625% 3,000,000.00 3,085,572.00 1.800% 275,650.83 3,361,222.83 US Treasury 74,125,000.00 74,031,778.19 1.742% 5,638,022.66 79,669,800.85 Corporate notes 11/10/15 11/03/20 Microsoft 5,000,000.00 5,018,550.00 1.920% 479,505.56 5,498,055.56 06/10/16 11/03/20 Microsoft 1,500,000.00 1,539,450.00 1.370% 92,466.67 1,631,916.67 11/13/17 11/13/20 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 Wal-Mart 1,500,000.00 1,481,805.00 2.545% 73,453.33 1,555,258.33 02/26/18 01/15/21 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 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 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 Toyota 3,000,000.00 3,031,680.00 1.659% 228,303.33 3,259,983.33 11/18/19 04/26/21 US Bank NA 1,000,000.00 1,019,220.00 1.710% 26,105.00 1,045,325.00 06/13/18 05/16/21 Chevron 3,250,000.00 3,175,770.00 2.920% 273,861.25 3,449,631.25 05/26/16 05/19/21 Alphabet Inc. 1,000,000.00 1,094,000.00 1.651% 86,545.14 1,180,545.14 04/17/17 05/19/21 Alphabet Inc. 2,000,000.00 2,136,700.00 1.883% 159,744.44 2,296,444.44 05/14/17 05/19/21 Alphabet Inc. 2,000,000.00 2,133,400.00 1.900% 159,620.83 2,293,020.83 09/13/16 08/08/21 Microsoft 6,000,000.00 5,995,740.00 1.565% 460,218.33 6,455,958.33 02/07/17 08/08/21 Microsoft 2,000,000.00 1,947,120.00 2.170% 192,466.11 2,139,586.11 02/22/18 08/08/21 Microsoft 1,500,000.00 1,441,912.50 2.730% 138,558.33 1,580,470.83 10/14/16 09/01/21 Coca Cola Company 3,600,000.00 3,581,496.00 1.660% 290,839.00 3,872,335.00 01/10/18 09/01/21 Coca Cola Company 1,500,000.00 1,549,740.00 2.344% 130,522.50 1,680,262.50 12/19/19 10/22/21 Wells Fargo Bank 4,000,000.00 4,122,000.00 1.851% 145,041.67 4,267,041.67 10/10/17 11/03/21 Procter & Gamble 2,000,000.00 1,982,100.00 1.930% 156,072.22 2,138,172.22 12/04/17 11/15/21 Colgate-Palmolive 2,250,000.00 2,271,141.00 2.200% 196,449.62 2,467,590.62 12/23/19 11/16/21 US Bank NA 3,000,000.00 3,091,620.00 1.730% 104,742.50 3,196,362.50 04/03/20 01/21/22 US Bank NA 2,000,000.00 2,016,916.00 1.300% 47,884.00 2,064,800.00 12/20/17 02/06/22 Microsoft 1,250,000.00 1,254,025.00 2.316% 119,808.33 1,373,833.33 11/29/19 02/09/22 Apple Inc. 2,000,000.00 2,017,980.00 1.730% 76,381.11 2,094,361.11 03/07/19 03/03/22 Johnson & Johnson 1,250,000.00 1,236,787.50 2.620% 97,275.00 1,334,062.50 02/24/20 03/03/22 Johnson & Johnson 2,000,000.00 2,029,760.00 1.470% 61,365.00 2,091,125.00 05/07/20 05/03/22 Colgate-Palmolive 3,500,000.00 3,629,465.00 0.420% 30,640.56 3,660,105.56 03/06/17 03/06/22 Exxon Mobil 2,000,000.00 2,003,380.00 2.360% 236,320.00 2,239,700.00 Nov. 17, 2020 Item #1 Page 12 of 20 Settlement Maturity Issuer Par Invested Yield Interest expected Return 05/23/17 05/11/22 Apple Inc. 3,300,000.00 3,318,150.00 2.181% 358,820.00 3,676,970.00 12/06/17 05/15/22 Berkshire Hathaway 1,503,000.00 1,540,770.39 2.400% 162,504.36 1,703,274.75 01/08/18 05/15/22 Berkshire Hathaway 1,000,000.00 1,023,300.00 2.432% 107,283.33 1,130,583.33 10/09/18 05/15/22 Berkshire Hathaway 1,100,000.00 1,091,810.50 3.220% 126,989.50 1,218,800.00 02/19/19 05/17/22 Toyota 2,000,000.00 2,000,000.00 3.083% 200,044.66 2,200,044.66 01/06/20 05/27/22 Wells Fargo Bank NA 3,000,000.00 3,040,020.00 1.920% 167,839.75 3,207,859.75 08/09/18 06/01/22 Blackrock Inc. 1,000,000.00 1,011,600.00 3.050% 117,306.25 1,128,906.25 12/11/19 06/15/22 Cisco Systems Inc 500,000.00 515,230.00 1.755% 22,436.67 537,666.67 02/20/20 06/20/22 JP Morgan Chase Bank 3,000,000.00 3,000,000.00 1.775% 124,250.00 3,124,250.00 12/19/19 06/26/22 3M Company 2,000,000.00 2,010,920.00 1.777% 89,857.78 2,100,777.78 08/24/17 07/13/22 Toyota 1,500,000.00 1,547,160.00 2.119% 158,056.67 1,705,216.67 01/16/19 07/13/22 Toyota 1,500,000.00 1,483,770.00 3.129% 162,880.00 1,646,650.00 07/01/19 07/13/22 Toyota 2,500,000.00 2,551,875.00 2.090% 160,458.33 2,712,333.33 11/06/17 08/11/22 Procter & Gamble 1,800,000.00 1,799,161.20 2.160% 185,201.30 1,984,362.50 11/09/18 08/11/22 Procter & Gamble 1,900,000.00 1,826,627.70 3.250% 226,786.74 2,053,414.44 05/02/19 08/11/22 Procter & Gamble 2,000,000.00 1,986,800.00 2.150% 154,025.00 2,140,825.00 01/18/18 09/21/22 Novartis Capital Corp 1,500,000.00 1,489,500.00 2.560% 178,400.00 1,667,900.00 10/10/19 11/03/22 Microsoft 2,000,000.00 2,064,180.00 1.514% 98,206.11 2,162,386.11 01/04/18 11/15/22 Colgate-Palmolive 2,000,000.00 1,982,400.00 2.443% 236,475.00 2,218,875.00 09/17/18 11/15/22 Colgate-Palmolive 2,000,000.00 1,935,820.00 3.077% 251,430.00 2,187,250.00 11/18/19 11/18/22 JP Morgan Chase Bank 3,000,000.00 3,000,000.00 3.077% 189,000.00 3,189,000.00 12/06/17 11/29/22 Toyota 2,250,000.00 2,250,000.00 2.125% 238,132.81 2,488,132.81 01/14/19 12/15/22 Wal-Mart 2,720,000.00 2,653,088.00 3.020% 317,442.89 2,970,530.89 12/23/19 12/15/22 Wal-Mart 2,000,000.00 2,032,580.00 1.770% 107,375.56 2,139,955.56 01/24/18 01/26/23 Toyota 3,000,000.00 3,000,000.00 2.750% 412,500.00 3,412,500.00 08/29/19 02/01/23 Colgate-Palmolive 1,000,000.00 1,011,600.00 1.600% 55,133.33 1,066,733.33 09/12/19 02/11/23 Berkshire Hathaway 1,250,000.00 1,296,137.50 1.878% 81,883.33 1,378,020.83 07/31/19 02/23/23 Apple Inc. 3,500,000.00 3,592,680.00 2.039% 262,540.83 3,855,220.83 10/04/19 03/15/23 3M Company 1,762,000.00 1,798,080.47 1.620% 100,144.15 1,898,224.62 03/20/18 03/15/23 Berkshire Hathaway 1,000,000.00 983,890.00 3.101% 153,228.06 1,137,118.06 04/18/18 03/15/23 Berkshire Hathaway 1,750,000.00 1,719,130.00 3.140% 267,083.54 1,986,213.54 04/25/18 03/15/23 Berkshire Hathaway 2,000,000.00 1,953,300.00 3.270% 315,588.89 2,268,888.89 05/07/18 04/11/23 Wal-Mart 1,000,000.00 974,100.00 3.121% 151,558.33 1,125,658.33 12/18/18 04/11/23 Wal-Mart 1,000,000.00 969,800.00 3.301% 141,054.17 1,110,854.17 05/16/19 04/28/23 Bank of New York Mellon 2,000,000.00 2,061,800.00 2.670% 214,700.00 2,276,500.00 06/23/20 04/28/23 Bank of New York Mellon 2,000,000.00 2,168,480.00 0.510% 30,436.67 2,198,916.67 05/02/18 05/01/23 Colgate-Palmolive 4,666,000.00 4,443,179.84 3.140% 712,477.98 5,155,657.82 05/09/18 05/03/23 Apple Inc. 4,000,000.00 3,862,600.00 3.150% 615,800.00 4,478,400.00 08/06/16 06/26/23 Wal-Mart 1,750,000.00 1,763,895.00 3.220% 276,993.89 2,040,888.89 07/25/18 06/26/23 Wal-Mart 1,500,000.00 1,512,000.00 3.220% 238,891.66 1,750,891.66 02/19/19 06/26/23 Wal-Mart 1,000,000.00 1,025,140.00 2.770% 122,665.56 1,147,805.56 07/24/18 07/24/23 US Bank NA 1,250,000.00 1,251,625.00 3.371% 210,756.94 1,462,381.94 01/24/19 07/24/23 US Bank NA 1,000,000.00 1,010,000.00 3.156% 143,000.00 1,153,000.00 02/28/19 07/24/23 US Bank NA 1,800,000.00 1,835,100.00 2.916% 234,520.00 2,069,620.00 12/11/18 07/24/23 US Bank NA 2,500,000.00 2,489,250.00 3.400% 32,347.22 2,521,597.22 02/28/19 08/14/23 Wells Fargo Bank NA 2,000,000.00 2,040,700.00 3.050% 276,038.89 2,316,738.89 10/01/18 08/14/23 Wells Fargo Bank NA 1,500,000.00 1,500,000.00 3.550% 259,297.92 1,759,297.92 05/14/20 09/01/23 Public Service Electric 2,500,000.00 2,700,575.00 0.720% 67,324.31 2,767,899.31 12/23/19 11/20/23 State Street Corporation 2,000,000.00 2,130,440.00 1.958% 158,776.67 2,289,216.67 01/28/19 12/05/23 Johnson & Johnson 1,500,000.00 1,541,250.00 2.765% 204,421.87 1,745,671.87 03/07/19 01/08/24 Toyota 1,000,000.00 1,017,865.00 2.950% 144,144.72 1,162,009.72 01/16/20 01/15/24 Wal-Mart 2,000,000.00 2,067,790.00 1.900% 192,646.11 2,260,436.11 05/16/19 01/23/24 Citibank 1,000,000.00 1,034,870.00 2.836% 136,173.06 1,171,043.06 02/13/20 01/23/24 Citibank 2,500,000.00 2,674,670.00 1.770% 185,260.56 2,859,930.56 02/13/20 01/23/24 Citibank 2,000,000.00 2,142,600.00 1.733% 145,344.44 2,287,944.44 02/20/20 01/23/24 Citibank 1,500,000.00 1,603,710.00 1.780% 111,183.75 1,714,893.75 10/11/19 02/01/24 JP Morgan Chase Bank 1,765,000.00 1,900,834.40 2.000% 158,638.70 2,059,473.10 10/08/19 03/07/24 Microsoft 1,500,000.00 1,581,000.00 1.604% 107,379.17 1,688,379.17 08/29/19 03/18/24 Blackrock Inc. 2,000,000.00 2,162,500.00 1.640% 156,194.44 2,318,694.44 10/28/19 03/18/24 Blackrock Inc. 1,000,000.00 1,071,360.00 1.801% 82,251.11 1,153,611.11 11/14/19 03/18/24 Blackrock Inc. 1,000,000.00 1,065,420.00 1.923% 86,635.56 1,152,055.56 05/14/20 03/18/24 Blackrock Inc. 3,000,000.00 3,300,600.00 0.845% 103,066.67 3,403,666.67 04/24/20 04/22/24 Wal-Mart 2,500,000.00 2,737,467.50 0.875% 92,074.17 2,829,541.67 04/24/20 04/22/24 Wal-Mart 2,000,000.00 2,191,860.00 0.700% 71,773.33 2,263,633.33 07/31/19 05/13/24 JP Morgan Chase Bank 2,000,000.00 2,119,320.00 2.300% 227,471.67 2,346,791.67 07/13/20 05/13/24 JP Morgan Chase Bank 3,000,000.00 3,331,290.00 0.700% 85,585.00 3,416,875.00 07/01/20 05/15/24 Bank of NY Mellon 3,000,000.00 3,316,860.00 0.560% 75,556.67 3,392,416.67 Nov. 17, 2020 Item #1 Page 13 of 20 Settlement Maturity Issuer Par Invested Yield Interest expected Return 10/17/19 08/22/24 Amazon.com Inc. 2,500,000.00 2,604,850.00 1.860% 234,455.56 2,839,305.56 08/22/19 08/22/24 Amazon.com Inc. 2,000,000.00 2,087,280.00 2.800% 192,097.78 2,279,377.78 02/18/20 10/24/24 Bank of NY Mellon 3,055,000.00 3,093,737.40 1.816% 261,721.85 3,355,459.25 12/23/19 12/23/24 JP Morgan Chase Bank 3,500,000.00 3,500,000.00 2.200% 390,775.03 3,890,775.03 01/15/20 01/15/25 Johnson & Johnson 1,820,000.00 1,882,380.50 1.586% 176,494.50 2,058,875.00 04/08/20 01/15/25 Johnson & Johnson 3,000,000.00 3,231,960.00 0.906% 143,633.75 3,375,593.75 07/13/20 01/15/25 Johnson & Johnson 1,000,000.00 1,090,640.00 0.510% 27,630.83 1,118,270.83 04/13/20 02/14/25 Novartis Capital Corp 3,310,000.00 3,379,576.20 1.300% 210,555.54 3,590,131.74 06/03/20 03/15/25 CME Group Inc 2,771,000.00 3,050,981.84 0.730% 117,656.66 3,168,638.50 06/09/20 03/25/25 Procter & Gamble 1,000,000.00 1,082,240.00 0.703% 35,223.89 1,117,463.89 05/13/20 04/01/25 Flordia Power & Light 3,667,000.00 3,980,565.17 1.020% 195,628.34 4,176,193.51 Corporate notes 225,289,000.00 230,453,051.61 2.021% 18,651,589.60 249,104,641.21 Certificate of deposit 10/19/15 10/13/20 Comenity Cap Bank 249,000.00 249,000.00 2.000% 24,818.14 273,818.14 12/14/17 12/14/20 Ally Bank 247,000.00 247,000.00 2.100% 15,561.00 262,561.00 01/15/16 01/15/21 Investors Cmnty Bank 249,000.00 249,000.00 1.850% 23,032.50 272,032.50 05/09/18 05/10/21 Connectone Bank 249,000.00 249,000.00 2.850% 21,309.21 270,309.21 06/10/16 06/07/21 Ubs Bank Usa 249,000.00 249,000.00 1.650% 20,508.73 269,508,73 06/21/18 06/21/21 Mercantil Bank 246,000.00 246,000.00 3.000% 22,140.00 268,140.00 06/22/17 06/22/21 Lakeside Bank 249,000.00 249,000.00 1.900% 18,924.00 267,924.00 06/23/16 06/23/21 East Boston Saving 248,000.00 248,000.00 1.500% 18,600.00 266,600.00 06/24/16 06/24/21 First Business Bk 248,000.00 248,000.00 1.500% 18,600.00 266,600.00 06/30/16 06/30/21 First Technology Federal 248,000.00 248,000.00 1.750% 21,700.00 269,700.00 09/21/17 09/21/21 Pinacle Bank Tn 249,000.00 249,000.00 2.000% 19,920.00 268,920.00 01/12/18 01/12/22 LCA Bank Corporation 246,000.00 246,000.00 2.300% 22,632.00 268,632.00 01/18/17 01/18/22 Mb Financial Bank 249,000.00 249,000.00 2.050% 25,522.50 274,522.50 01/20/17 01/20/22 First Natl Bank 249,000.00 249,000.00 2.050% 25,522.50 274,522.50 01/24/19 01/24/22 Dollar Bank 246,000.00 246,000.00 2.850% 21,033.00 267,033.00 02/12/20 02/14/22 Sallie Mae Bank 247,000.00 247,000.00 1.700% 8,432.52 255,432.52 06/07/17 06/07/22 Mechantile Bank Of 247,000.00 247,000.00 2.100% 25,935.00 272,935.00 07/31/17 07/29/22 KS State Bank 245,000.00 245,000.00 2.100% 25,710.71 270,710.71 08/16/17 08/16/22 Everbank 247,000.00 247,000.00 2.200% 27,170.00 274,170.00 08/30/17 08/30/22 Willamette Valley Bank 249,000.00 249,000.00 2.100% 26,145.00 275,145.00 09/29/17 09/29/22 Allegiane Bank Texs 249,000.00 249,000.00 2.150% 26,767.50 275,767.50 09/14/17 09/14/22 First Bank Of 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 10/18/17 10/18/22 Beneficial Bank 247,000.00 247,000.00 2.150% 26,552.50 273,552.50 10/23/19 10/11/22 Goldman Sachs Bank USA 247,000.00 247,000.00 1.900% 13,898.99 260,898.99 12/22/17 12/22/22 Industrial & Coml Bak China 249,000.00 249,000.00 2.500% 31,125.00 280,125.00 01/11/19 01/11/23 Sterling Bank 246,000.00 246,000.00 3.100% 30,504.00 276,504.00 02/07/20 02/07/23 BMW Bank 247,000.00 247,000.00 1.650% 12,237.67 259,237.67 02/21/20 02/21/23 Wells Fargo Bank 249,000.00 249,000.00 1.750% 13,084.44 262,084.44 04/24/18 04/24/23 Citibank 246,000.00 246,000.00 3.000% 36,900.00 282,900.00 05/08/19 05/08/23 Bank3 249,000.00 249,000.00 2.336% 24,900.00 273,900.00 05/16/18 05/16/23 Belmont Savings Bank 245,000.00 245,000.00 3.050% 37,362.50 282,362.50 06/20/18 06/20/23 RBC Bank 249,000.00 249,000.00 3.150% 39,217.50 288,217.50 07/31/18 07/31/23 Bank Of New England 249,000.00 249,000.00 3.250% 40,462.50 289,462.50 07/31/18 07/31/23 Medallion Bank Utah 249,000.00 249,000.00 3.150% 40,462.50 289,462.50 02/13/19 08/14/23 First Missouri State Bank 246,000.00 246,000.00 2.850% 31,549.50 277,549.50 09/26/18 09/26/23 Bank Midwest 245,000.00 245,000.00 3.150% 38,587.50 283,587.50 09/28/18 09/28/23 Bank Of Baroda 245,000.00. 245,000.00 3.300% 40,425.00 285,425.00 11/15/18 10/30/23 National Cooperative Bank 245,000.00 245,000.00 3.450% 41,891.98 286,891.98 11/14/18 11/14/23 Bank Hapoalim Bm 245,000.00 245,000.00 3.500% 42,875.00 287,875.00 11/15/18 11/15/23 Morgan Stanley Pvt Bank 245,000.00 245,000.00 3.550% 43,487.50 288,487.50 11/19/18 11/29/23 State Bank Of India 245,000.00 245,000.00 3.600% 44,100.00 289,100.00 05/16/19 05/16/24 Enterprise Bank 246,000.00 246,000.00 2.600% 31,980.00 277,980.00 05/24/19 05/24/24 Eagle Bank 249,000.00 249,000.00 2.500% 31,125.00 280,125.00 06/28/19 06/28/24 First State Bank Dequeen 249,000.00 249,000.00 2.300% 28,635.00 277,635.00 07/31/19 07/31/24 Capital One 247,000.00 247,000.00 2.250% 27,787.50 274,787.50 08/30/19 08/30/24 Washington Federal 249,000.00 249,000.00 2.000% 24,900.00 273,900.00 09/13/19 09/13/24 Enerbank Usa 249,000.00 249,000.00 1.750% 21,787.50 270,787.50 09/18/19 09/30/24 Celtic Bank 249,000.00 249,000.00 1.700% 20,956.25 269,956.25 11/26/19 11/26/24 Raymond James Bank NA 247,000.00 247,000.00 1.850% 22,872.54 269,872.54 01/09/20 01/09/25 Morgan Stanley Bank NA 247,000.00 247,000.00 1.900% 23,490.72 270,490.72 02/27/20 02/27/25 Bell Bank Corp 249,000.00 249,000.00 1.600% 19,941.88 268,941.88 03/13/20 03/13/25 Choice Financial Group 248,000.00 248,000.00 1.100% 13,647.47 261,647.47 03/13/20 03/13/25 American Eagle bank 249,000.00 249,000.00 1.100% 13,702.54 262,702.54 03/18/20 03/18/25 Poppy Bank 249,000.00 249,000.00 1.100% 13,702.54 262,702.54 03/19/20 03/19/25 Somerset Trust 249,000.00 249,000.00 1.000% 12,456.88 261,456.88 03/20/20 03/20/25 Iberia Bank 248,000.00 248,000.00 1.000% 12,406.79 260,406.79 Nov. 17, 2020 Item #1 Page 14 of 20 Settlement Maturity Issuer Par Invested Yield Interest expected Return 03/27/20 03/27/25 Baycoast Bank 248,000.00 248,000.00 0.950% 11,786.45 259,786.45 03/27/20 03/27/25 American Commerce Bank 249,000.00 249,000.00 0.950% 11,834.03 260,834.03 04/08/20 04/08/25 Capital One 248,000.00 248,000.00 1.600% 19,850.88 267,850.88 05/15/20 05/15/25 Flagstar Bank 248,000.00 248,000.00 0.850% 10,545.77 258,545.77 05/15/20 05/15/25 Encore Bank 249,000.00 249,000.00 0.800% 9,965.41 258,965.41 05/26/20 05/27/25 Haddon Savings Bank 248,000.00 248,000.00 0.750% 9,310.19 257,310.19 05/29/20 05/29/25 Home Loan Inv Bank 249,000.00 249,000.00 0.800% 9,965.41 258,965.41 05/29/20 05/29/25 Pacific Western Bank 249,000.00 249,000.00 0.700% 8,719.77 257,719.77 05/29/20 05/29/25 Malaga Bank 249,000.00 249,000.00 0.700% 8,719.87 257,719.87 06/10/20 06/10/25 Stockman Bank 249,000.00 249,000.00 0.600% 7,474.10 256,474.10 07/17/20 07/17/25 Preferred Bank 249,000.00 249,000.00 0.500% 6,228.46 255,228.46 07/16/20 07/28/25 Toyota Financial Savings Bank 249,000.00 249,000.00 0.650% 8,096.93 257,096.93 07/29/20 07/29/25 Continental Bank 249,000.00 249,000.00 0.500% 6,228.46 255,228.46 08/14/20 08/14/25 Luana Savings Bank 249,000.00 249,000.00 0.450% 5,605.57 254,605.57 08/19/20 08/19/25 1st Financial Bank 249,000.00 249,000.00 0.450% 5,605.82 254,605.82 08/20/20 08/20/25 1st Carolina Bank 249,000.00 249,000.00 0.450% 5,605.82 254,605.82 08/20/20 08/20/25 Northeast Community Bank 249,000.00 249,000.00 0.450% 5,605.82 254,605.82 09/04/20 09/04/25 Crown Bank 249,000.00 249,000.00 0.400% 4,982.62 253,982.62 09/15/20 09/15/25 Merrick 249,000.00 249,000.00 0.400% 4,982.62 253,982.62 09/29/20 09/29/25 Landmark Community 249,000.00 249,000.00 0.400% 4,982.58 253,982.58 Certificate of deposit 18,840,000.00 18,840,000.00 1.830% 1,601,650.08 20,441,650.08 Mortgage backed securities (agency) 12/26/19 12/01/22 FNMA AM 1721 1,890,362.04 1,903,358.27 2.001% 78,495.34 1,981,853.61 02/04/20 11/01/22 FNMA AM0982 2,000,000.00 2,036,562.50 1.704% 27,844.88 2,064,407.38 08/27/20 06/15/25 FHLMC FHR 3544 BC 1,118,702.07 1,172,190.01 0.532% 80,310.73 1,252,500.74 04/15/20 11/25/24 FHMS KH G1 Al 3,000,000.00 3,215,625.00 0.999% 1,505.28 3,217,130.28 07/24/20 05/25/25 FRESB MFM 998,914.79 1,003,800.48 0.830% 15,617.60 1,019,418.08 Mortgage backed securities (agency) 9,007,978.90 9,331,536.26 1.280% 203,773.83 9,535,310.09 Cash Wells Fargo Bank - General 3,266,515.00 3,266,515.00 0.010% 26.85 3,266,541.85 Sweep account 3,001,791.58 3,001,791.58 0.010% 24.67 3,001,816.25 Wells Fargo Bank - Custody 2,247,701.10 2,247,701.10 0.010% 18.73 2,247,719.83 CAMP 1,005,407.97 1,005,407.97 0.250% 206.59 1,005,614.56 LAIF City 71,466,066.18 71,466,066.18 0.660% 39,306.34 71,505,372.52 LAIF CMWD 71,335,418.15 71,335,418.15 0.660% 39,234.48 71,374,652.63 LAIF CPFA 27,147,885.33 27,147,885.33 0.660% 14,931.34 27,162,816.67 Cash 179,470,785.31 179,470,785.31 0.627% 93,749.00 179,564,534.31 GRAND TOTAL 770,929,764.21 778,173,611.35 1.504% 45,111,510.30 823,262,616.66 Nov. 17, 2020 Item #1 Page 15 of 20 EXHIBIT 7 City of Carlsbad investment portfolio Fund equity in pooled investments As of Sept. 30, 2020 Cash balance by fund: General 111,325,728 Special revenue 33,613,575 Capital projects: General capital construction 46,521,882 Traffic impact fees 25,064,429 Public facilities fees 29,595,663 Park development 12,929,098 TransNet taxes 7,221,318 Drainage fees 5,427,452 Special districts 107,794,409 Infrastructure replacement 120,811,760 Gas tax 16,497,946 Capital project subtotal 371,863,957 Enterprise: Carlsbad Municipal Water District 133,302,150 Sewer fund 46,755,403 Solid waste 5,978,801 Storm water 7,921,906 Golf course 521,017 Enterprise subtotal 194,479,277 Internal service 50,741,067 Trust and agency 18,121,116 Total general ledger balance ** 780,144,720 Reconciling adjustments (1) (3,260,436) Total treasurer's investment portfolio at amortized cost 776,884,284 **Figures based on best estimate at the time report run on 10/9/2020. (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. Nov. 17, 2020 Item #1 Page 16 of 20 EXHIBIT 8 City of Carlsbad investment portfolio Corporate note and mortgage backed security ratings As of Sept. 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/stable/positive Apple Inc. Aa1 AA+ Stable Bank of New York Mellon Al A AA- Stable Berkshire Hathaway Aa2 AA A+ Stable Blackrock Inc. Aa3 AA- Stable Chevron Aa2 AA Stable/negative Cisco Systems Inc. Al AA- Stable Citibank A3 BBB+ A Stable/stable/negative CME Group Aa3 AA- AA- Stable Coca Cola Company Al A+ A Stable/negative/stable Colgate-Palmolive Aa3 AA- Stable Exxon Mobil Aa1 AA Negative Florida Power & Light Aa2 A+ AA- Stable 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 Nova rtis Capital Corp Al AA- Stable Procter & Gamble Aa3 AA- Stable Public Service Electric Aa3 A Stable State Street Corporation Al A AA- Stable Toyota Al A+ A+ Negative US Bank NA Al A+ AA- Negative/stable/negative Wal-Mart Aa2 AA AA Stable Wells Fargo Bank NA A2 BBB+ A+ Negative/stable/Negative Mortgage backed securities Moody's S&P Fitch Outlook FHLMC (KHG1 Al) Aaa AAA Stable FHLMC (FHR 3544 BC) Aaa AAA Stable FNMA (AM0982) Aaa AAA Stable FNMA (AM1721) 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 * Corporate notes Moody's S&P Fitch Maturity date Purchased Book value 3M Company Al A+ 03/07/24 12/19/19 $ 5,358,315 Citibank A3 BBB+ A 01/23/24 02/20/20 $ 7,378,456 Coca Cola Company Al A+ A 09/01/21 01/10/18 $ 5,109,045 Toyota Al A+ A+ 01/08/24 07/01/19 $ 16,805,107 Wells Fargo Bank NA A2 BBB+ A+ 08/14/23 01/06/20 $ 12,622,258 *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 the policy. All current exceptions 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. Nov. 17, 2020 Item #1 Page 17 of 20 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer As of Sept. 30, 2020 EXHIBIT 9 Corporate notes Amortized cost Portfolio allocation* 3M Company $ 5,358,315 0.69% Alphabet Inc. 5,054,031 0.65% Amazon.com Inc. 4,652,265 0.60% Apple Inc. 15,307,849 1.97% Bank of New York Mellon 10,579,900 1.36% Berkshire Hathaway 9,606,864 1.24% Blackrock Inc. 8,508,021 1.10% Chevron 3,234,139 0.42% Cisco Systems Inc. 510,344 0.07% Citibank 7,378,456 0.95% CME Group 3,031,796 0.39% Coca Cola Company 5,109,044 0.66% Colgate-Palmolive 15,377,747 1.98% Exxon Mobil 5,007,745 0.64% Florida Power & Light 3,955,951 0.51% Johnson & Johnson 10,960,005 1.41% JP Morgan Chase Bank 16,772,945 2.16% Microsoft 19,271,131 2.48% Novartis Capital Corp 4,868,422 0.63% Procter & Gamble 8,727,918 1.12% Public Service Electric 2,677,425 0.34% State Street Corporation 2,104,667 0.27% Toyota 16,805,107 2.16% US Bank NA 12,647,243 1.63% Wal-Mart 19,394,449 2.50% Wells Fargo Bank NA 12,622,258 1.62% Mortgage backed securities (agency) Amortized cost Portfolio allocation* FHLMC 4,387,815 0.56% FNMA 4,943,720 0.64% Federal agencies Amortized cost Portfolio allocation** Federal Agricultural Mortgage Corp. 12,182,350 1.57% Federal Farm Credit Bank 82,475,353 10.62% Federal Home Loan Bank 44,658,181 5.75% Federal Home Loan Mortgage Corp. 50,533,486 6.50% Federal National Mortgage Assoc. 37,005,879 4.76% Private Export Funding Corp. 2,549,432 0.33% RFC() STRIPS 2,998,082 0.39% Tennessee Valley Authority 3,027,062 0.39% Other Amortized cost Portfolio allocation Supranational 30,132,578 3.88% US Treasury 74,155,524 9.55% Certificate of deposits 18,840,000 2.43% Cash 179,470,785 23.10% Total portfolio amortized cost 776,884,284 * No more than 5% may be invested with a single issuer. **There are no percentage limits on federal agency issuers. Nov. 17, 2020 Item #1 Page 18 of 20 EXHIBIT 10 City of Carlsbad Investments of bond proceeds held separately Sept. 30, 2020 Name and fund type Investments Stated int. rate Maturity date Par value Cost Assessment District 03-01 (College/Cannon) Fiscal agent: Project fund Invesco Gov. & Agency - Institutional Money Market N/A N/A $ 980,232 $ 980,232 Assessment District 96-01 (Rancho Carrillo) Fiscal agent: Reserve fund Repub Natl Bank Repo Agreement: HSBC (GIC) 6.03% 09/02/28 $ 942,770 $ 942,770 Reassessment District 2012-1 (College/Cannon & Poinsettia Lane) Fiscal agent: Reserve fund Invesco Gov. & Agency - Institutional Money Market various N/A $ 2,286,263 $ 2,286,263 Other Invesco Gov. & Agency - Institutional Money Market various N/A $ 428 $ 428 Communities Facilities District #3 Improvement Area 1, 2016 Bonds Fiscal agent: Reserve fund Invesco Gov. & Agency - Institutional Money Market various 09/01/36 $ 573,393 $ 573,393 Other Invesco Gov. & Agency - Institutional Money Market various 09/01/36 $ - $ - Communities Facilities District #3 Improvement Area 2,2016 Bonds Fiscal agent: Reserve fund Invesco Gov. & Agency - Institutional Money Market various 09/01/38 $ 836,356 $ 836,356 Other Invesco Gov. & Agency - Institutional Money Market various 09/01/38 $ 359 $ 359 5,619,800 $ 5,619,800 Nov. 17, 2020 Item #1 Page 19 of 20 City of Carlsbad Summary of outstanding housing loans As of Sept. 30, 2020 0 4orrower Development Purpose Status First date issued # of loans issued Loans issued by City to Loans issued developers/ by developer to # of loans homeowners homeowners outstanding City loan repaid Developer loan to City repaid to City Loan amount due to City Developer loan amount due to City Total homebuyers Calavera Hills Sale Outstanding 10/15/99 5 75,000 150,000 1 (60,000) (120,000) 15,000 30,000 15,000 NIsdividual homebuyers Cherry Tree Walk Sale Outstanding 06/28/99 42 453,600 452,600 11 (334,800) (283,250) 118,800 169,350 118,800 didividual homebuyers Serrano Sale Outstanding 05/25/01 90 1,350,000 4,050,000 21 (1,050,135) (2,790,000) 299,865 1,260,000 299,865 NAdividual homebuyers Rancho Carlsbad Sale Outstanding 05/20/99 22 752,533 4 (616,633) 135,900 135,900 dividual homebuyers Solamar Sale Outstanding 09/26/88 9 147,726 1 (135,065) 12,661 12,661 Catholic Charities Homeless shelter Shelter Outstanding 09/19/97 1 200,000 1 200,000 200,000 Pacific Vista Las Flores Vista Las Flores Rentals Outstanding 02/27/01 1 363,948 1 363,948 363,948 CIC Calavera LP Mariposa Apts Rentals Outstanding 09/15/04 1 1,060,000 1 1,060,000 1,060,000 Individual homebuyers Mulberry at Bressi Ranch Sale Outstanding 04/29/05 100 1,840,000 19,660,200 100 1,840,000 19,660,200 1,840,000 Individual homebuyers Village by the Sea Sale Outstanding 10/28/05 11 220,000 4,087,200 11 220,000 4,087,200 220,000 Individual homebuyers Laguna Point Sale Outstanding 07/06/06 3 210,000 2 (70,000) 140,000 140,000 Individual homebuyers The Bluffs Sale Outstanding 06/14/07 10 200,000 10 200,000 200,000 Individual homebuyers Roosevelt Gardens Sale Outstanding 08/30/07 11 1,583,423 11 1,583,423 1,583,423 CIC La Costa Hunter's Point Rentals Outstanding 08/19/08 1 1,932,000 1 1,932,000 1,932,000 Down Payment & Closing Cost Asst Various Assistance Outstanding 06/25/09 22 255,518 20 (31,900) 223,618 223,618 CIC Glen Ridge, LP Glen Ridge Rentals Outstanding 10/05/09 1 1,014,000 1 1,014,000 1,014,000 North County Solutions for Change Property Acquisition Rentals Outstanding 06/28/12 1 780,000 1 780,000 780,000 Catholic Charities Homeless shelter Shelter Outstanding 03/01/10 3 507,585 3 507,585 507,585 Individual homeowners N/A Minor Home Repair Outstanding 05/20/10 12 35,559 7 (4,083) 31,476 31,476 Hospice of North Coast N/A Property Acq Outstanding 02/27/13 1 1,065,000 1,065,000 1,065,000 Harding Street Neighbors, LP Carol-Harding Duplex Property Acq Outstanding 03/14/13 1 7,408,000 7,408,000 7,408,000 Tracy Templeton Laguna Point Sale Outstanding 04/17/13 1 108,150 108,150 108,150 Thomas & Judy Kim Rose Bay Sale Outstanding 08/23/13 1 229,775 229,775 229,775 Solutions for Change N/A Property Acq Outstanding 12/19/14 1 2,646,000 2,646,000 2,646,000 Chelsea Inv Corp/Quarry Creek CiC Quarry Creek Rentals Outstanding 08/31/16 1 1,280,000 1 (285,908) 994,092 994,092 352 25,717,817 28,400,000 214 (2,588,524) (3,193,250) 23,129,293 25,206,750 23,129,293 Individual homebuyers City-wide (CHAP) Sale Paid-Off 06/28/99 133 $1,680,000 ($1,680,000) $ $0.00 $ CB Laurel Tree Apartments Laurel Tree Rentals Paid-Off 12/24/98 2 1,134,000 (1,134,000) (0) (0) USA Properties c/o CFHP Rancho Carrillo Rentals Paid-Off 03/05/01 1 1,157,584 (1,157,584) (0) (0) Poinsettia Housing Assoc Poinsettia Station Rentals Paid-Off 10/21/99 1 920,000 (920,001) Bridge Housing Corp Villa Loma Rentals Paid-Off 11/04/94 2 2,212,000 (2,212,000) Dove Family Housing La Costa Paloma Rentals Paid-Off 07/15/03 1 2,070,000 (2,070,000) El Camino Family Housing Cassia Heights Rentals Paid-Off 03/07/06 1 1,454,276 (1,454,276) 141 10,627,860 (10,627,861) 0 $ Allowances Other (1,798,379) (1,798,379) (1,798,379) 493.00 34,547,298.41 28,400,000.00 214.00 (13,216,385.17) (3,193,250.00) 21,330,914.22 25,206,750.00 21,330,914.22 TT 118IHX3