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Home My WebLink About08 QUARTERLY INVESTMENT REPORTAgenda Item 8 A"^ Reviewed: i AGENDA REPORT City Manager Finance Director t� MEETING DATE: NOVEMBER 4. 2014 TO: JEFFREY C. PARKER, CITY MANAGER FROM: PAMELA ARENDS -KING, FINANCE DIRECTOR /CITY TREASURER SUBJECT: QUARTERLY INVESTMENT REPORT FOR THE CITY OF TUSTIN AND THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY SUMMARY: Government Code Section 53646 requires that the Treasurer make an Investment Report to the City Council at least quarterly showing balances by authorized investment and certifying its compliance with the adopted Investment Policy. RECOMMENDATION: Receive and file. DISCUSSION: In compliance with Government Code Section 53646, the attached Investment Report reporting cash and investments for the City of Tustin and the Successor Agency for the Tustin Community Redevelopment Agency for the quarter ending September 30, 2014 is rendered. The major impact on cash and investments during the quarter ending 9/30/14 was the sale of Tustin Legacy property to Standard Pacific Corporation for $56 million for the development of residential housing, and the $18.2 million payment to Vestar Kimco Tustin L.P. for reimbursement of the construction of Tustin Legacy infrastructure projects and the payment of other various construction infrastructure projects within Tustin Legacy. Net increase in cash and investments from the quarter ending 6130/14 was $23 million. The increase in daily liquid cash resulted in a decrease of the weighted average portfolio yield from 0.85% to 0.80% for the quarter ending 6/30/14. Due to the cash flow needs in the next quarter, daily liquid cash is estimated to remain at the 9/30/14 balance. Pamela Arends -King Finance Director /City Treasurer Attachment: September 30, 2014 Quarterly Investment Report CITY OF TUSTIN and THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY r '' ` MAIN g AVE PROSPECT I'M r 0 D CITY OF TUSTIN and THE SUCCESSOR AGENCY FOR THE TUSTIfV COMMUNITY REDEVELOPMEN T A GENC DISTRIBUTION OF CASH AND INVESTMENTS SEPTEMBER 30, 2014 Corl BE $12, "e 6. DISTRIBUTION OF CASH AND INVESTMENTS Total Investments as of W30l2014: $185,822,042 US Treasury $27,941,103 15.06% Negotiable- Certificate of Deposit $4,672,000 5.21% Commercial Paper $1,996,442 1.08% DISTRIBUTION OF CASH AND INVESTMENTS Total Investments as of W30 ?2013; $163,204,437 L Corporate Bonds $7,658,326 4.6996 US Treasury $22,968,225 .14.07% Negotiable Certificate of Deposit $5,704,000 3.5096 Jertificate of Deposit $3,000,(100 1.84% Federal Agencies $40,099,641 24.57% Municipal Bonds $1,00 3,800 0.62% 2 CITY OF TUSTIN and THE SUC CE GR AGENCY FOR THE TUS TIN C OMMUNITY REDE EL PMENT A GE PORTFOLIO WEIGHTED AVERAGE SEPTEMBER 30, 2014 WEIGHTED AVERAGE PORTFOLIO LIFE (DAYS) WEIGHTED AVERAGE PORTFOLIO YIELD ( }6) vs. BENCHMARKS 0.90% 0.80°, 0.70°, 0.60% 0.50% 0.40% 0.30% 0.20% 0.10% 0.00CA 1 §11 &V 41 o o o aK, w-, f"\ \n Tustin Welghted Average Portfolio Yield J%) —11—Tre asu ry Yield (24 -month Daily) (%) -Ii &- LAIF Yield (9b) 3 CITY OF TU TIN and THE SUCCESSOR AGENCY FOR THE TU TIN COMMUNITY REDEVELOPMENT AGENCY DISTRIBUTION OF INVESTMENT LIQUIDITY and COMPLIANCE WITH INVESTMENT POLICY SEPTEMBER 30, 2014 Liquidity Distribution 35.M6 30.0% 25.0% ■ Up to 1 year ■ 2 years 20.0% 3 years ■ 4 years 15.096 ■ 5 years 10.096 ■ > 5 years 5.09b Upto 1 2 years 3 years 4 years 5 years >5 year years Compliance with Investment Limitations 4 Total % Invested Compli+ Commercial Notes: 5 10% of total portfolio 6.59° Yes 5 years remaining maturity n1a Yes Commercial Paper 5 25% of total portfolio 1.08% Yes 5 270 days remaining maturity n1a Yes Municipal securities: 5 10% of total portfolio 0.54% Yes 5 5% in one issuer 0.54% Yes < 10% of State of Califomia issuances 0.54% Yes Federal agency bands or notes: 5759 of total portfolio 46.08% Yes <_ 5 years remaining maturity n1a Yes U__ Treasury securities: <_ 5 years remaining maturfty n1a Yes Maturity limitations: 5 5 years maturity n1a Yes 25% of portfolio matures one year or less 30.43% Yes 4 CITY OF TUSTIN and THE SUCCESSOR AGENCY FOR THE TUSTINCOWUN 1TYREDEVELOPMENTAGENCY INVESTMENT REPORT INVESTMENT SCHEDULE AS OF: SEPTEMBER 30, 2014 (4) (5) (6) YIELD ORIGINAL CURRENT CURRENT 11) (2) COUPON TO (3) PURCHASE MATURrrY BOOTS BOOTS MARKET DESCRIPTION- LIMITS CUSIP PAR VALUE Dollar Price MATURITY RATING DATE DATE PRICE VALUE VALUE US TREASURY BILLSINCTES -No Limit: U.S. Treasury Note U.S. Treasury Note U.S. Treasury Note U.S. Treasury Note U.S. Treasury Note U.S. Treasury Note U.S. Treasury Note U.S. Treasury Note FEDERAL AGENCIES -75% Limit: Fanner Mac Federal Home Loan Bank US Domestic Freddie Mac Fannie Mae Global Bond Federal Home Loan Bank Global Freddie Mac Global Bond Federal Home Loan Bank US Domestic Freddie Mac Global Bond Federal Farm Credit Bank Freddie Mac Freddie Mac Federal Home Loan Bank Global Band Fannie Mae Federal Home Loan Bank US Domestic Fannie Mae Federal Home Loan Bank - US Domestic Fannie Mae Fannie Mae Fannie Mae Federal Home Loan Global Bond Freddie Mac Federal Farm Credit Bank Freddie Mac Federal Home Loan Bank Global Band Fannie Mae Freddie Mac Federal Home Loan Bank US Domestic Federal Home Loan Bank - US Domestic Step Up Federal Farm Credit Bank Freddie Mac Freddie Mac Federal Home Loan Bank - US Domestic Step Up Federal Home Loan Bank Global Freddie Mac Federal Home Loan Bank -US Domestic MUNICIPAL BONDS -15 %Limit: California St Txabl- General Obligation U N LTD 912 &2 &A67 912 929WM8 912 &2 &W%4 912 52 &WF3 912 1326WP1 912 &2 &TG5 912 &2 &d98 912 &2 &TLW0 3,040,646 51000,808 $2,080,888 3,000,000 51000,808 5,000,000 2,000,000 3,000,000 $99 $99 $99 $99 $99 $99 $99 $99 0.42% 0.43% 0.50% 0.63% 0.92% 0.58% 1.06% 1.06% 01108114 07125114 Sf04114 05/13114 06111M4 07131/12 09/16174 OTM4M4 12)31116 05)31116 07)31M6 11M5M6 OSM5M7 07)31117 06M5M7 10)"31117 2,990,165 4,997,318 1,999,746 3,008,803 4,993,479 4,979,333 1,996,774 2,975,523 21(Y9,166 4,997,318 11999,708 31008,803 4,993,479 41979,333 11996,774 2,975,523 3,881,056 4,994,920 2,000,234 2,996,250 4,988,280 4,924,220 1,996,876 2,962,032 $28,000,000 $27,941,103 $27,941,103 $27,863,868 31315PGTO $5,000,888 $103 0.54% AAA 07/10/13 09M5M5 5,205,041 51285,041 5,091,590 313375RN9 3,000,000 $100 0.42% AAA 07124/14 0317116 3,839,577 3,039,577 3,825,227 3134G54C6 2,000,808 $100 0.50% AAA 04128M4 05)20116 2,000,000 2,000,000 1,994,768 3135GOXHI 5,000,000 $99 0.50% AAA 05120113 05)20116 5,000,000 51800,000 5,001,536 3130A2U95 3,000,000 $100 0.50% AAA 08127114 05)26116 3,800;042 3,000,042 2,996,355 3134G5GE9 3,000,808 $100 0.67% AAA 08126114 06)26116 3,000;800 3,000,000 2,995,224 31337&TLW8 4A00,000 $102 0.64% AAA 0M6M4 09)09116 4,146,82& 41140,928 4,104,496 3134G5HA6 3,000,000 $100 0.70% AAA 09114114 09M9M6 3,800,000 3,000,000 2,990,829 3133ED3J9 5,000,008 $99 0.83% AAA 10103113 10)03M6 4,999,588 4,999,500 6,000,396 3134G5A08 2,000,808 $100 0.70% CAA 06111114 12)3016 2,000;800 2.000,000 1,994,094 3134G54138 3,000,000 $99 0.90% AAA 04128!14 02+15117 3,000,888 3,800,000 2,990,853 3130A27E0 2,000,000 $100 0.80% AAA 06!3044 03.+24117 2,800,000 21000,000 1,993,096 3135GOPD9 51000,808 $99 1.09% AAA 02110114 89.+27117 5,015,755 5,015,765 4,996,646 3138A1GZ5 2,000,000 $100 1.35% AAA 041]7114 18. +17117 2,000,888 21800,000 1,993,672 3136G1MF3 5AO0,000 $99 0.86% AAA 12112113 11.+20117 4,942,597 4,942,597 4,930,850 313&AOWL8 1,000,808 $100 1.20% AAA 02128M4 11.+28117 1,000,888 1,800,000 996 ,226 3135GOTD5 1,000,000 $99 1.00% AAA 07121/14 12+28117 994,594 994,594 982,009 3136G2351 2,000,000 $100 1.30% AAA 08115114 02 +15118 2,000,000 21000,000 1,988,594 3136GIDG1 2,000,808 $99 1.05% AAA 07101M4 &2+27118 1,994,233 1.994,233 1,975,090 313382P34 1,500,000 $98 1.26% AAA 12/19/13 82+28118 1,496,781 11486,781 1,491,658 3134G35Y2 2,000,000 $99 1.17% AAA 03113114 03 +12118 1,986,065 1,9&6,065 1,985,962 3133-EDL75 1,000,808 $100 1.41% CAA 05108114 85+08118 1,000,000 1,800,000 1,006,734 3134G46D5 2,000,000 $99 1.29% AAA 06103114 86 +12118 2,004,400 21OK400 1,980,038 3133&1U60 2,000,000 $99 1.16% AAA 07114114 07.+25118 1,990,797 1,990,797 1,962,020 3136GOSP7 258.000 $99 1.45% AAA 06103114 18.+30118 249,485 249,485 245,942 3134G41JV6 5,000,000 $100 1.80% AAA 12127113 12+27118 5,000;888 51800,000 6,014,126 3138A1 G05 1,000,000 $100 2.07% AAA 4. +15114 64 +15119 1,000;888 1,800,000 998,059 3130A1VA3 1A80,000 $100 1.00% AAA 05120114 05+20119 1,000,000 11000,000 1,000,966 3133-EDN81 1,000,000 $100 1.85% AAA 06112114 86 +12119 1,000,888 1,800,000 999,863 3134G57A7 2,000,000 $100 1.80% AAA 00!26114 86+26119 2,000,888 21800,000 1,992,054 3134G3XGO 2,000,080 $99 1.80% AAA 06109114 06+28119 1,984,416 119&4,416 1,963,202 313&A2MTO 2,100,808 $100 1.63% AAA 08114114 8& +13119 2,100,888 2,100,000 2,098,549 3138A2RDO 3,000,000 $100 2.06% AAA 08121114 88721119 3,000,888 31000,000 2,995,396 3134G5EQ4 1,000,000 $100 2.00% AAA 08121114 0 9.+21119 1,000,000 11000,000 997,003 3130A33F9 2,000,000 $100 2.10% AAA 09130114 88730119 2,000,888 2,000,000 1,996,558 $86, 850, 008 $87,150,221 $67,160,221 $86,769,W6 13063BN65 $1,000,000 $100 0.85% Al 03127113 02)91116 $1,003,808 $1,003,800 $1,001,330 NEGOTIABLE CERTIFICATES OF DEPOSITS -30% Lim¢- FDIC Insured (4) (5) (6) YIELD GE Capital Bank ORIGINAL CURRENT CURRENT {1j (2) COUPONS T4 (3} PURCHASE MATURITY BOOK BOOK MARKET DESCRIPTION -LIMITS CUSIP PARVALUE Dollar Price MATURITY RATING DATE DATE PRICE VALUE VALUE COMMERCIAL PAPER - 26% Limit: 248,000 248,000 248,034 Comenity Capital Bank 20633AB19 248,000 Ebury Finance LLP 27573KMG4 $2,000,000 100 0.35% A-1,P -1 06!,6114 12 +16114 $1,9961442 $1,996,442 $1,998,522 NEGOTIABLE CERTIFICATES OF DEPOSITS -30% Lim¢- FDIC Insured GE Capital Bank 36160YV51 248,000 $100 0.35% 300 06r21M3 1212214 248,000 248,004 247,946 Sterling Savings Bank 8595317C3 248,000 $100 0.35% 300 06r26M3 12126M4 248,000 248,000 248,034 Comenity Capital Bank 20633AB19 248,000 $100 0.40% 300 O6f28M3 01128!15 248,000 248,000 248,016 Merrick Bank 59612V3T2 248,000 $100 0.50% 300 O6f21M3 06/22115 248,000 248,000 248,123 Farmers & Merchant Bank TN 34246ACK2 248,000 $100 0.40% 190 O6f27M3 %r26115 248,000 248,000 248,118 First General Bank 320337AP3 248,000 $100 0.40% 296 06f26M3 0&x26115 248,000 248,000 248,135 Fox Chase Bank 35137QAP9 248,000 $100 0,40% 209 OC927M3 0&x26115 248,000 248,000 248,118 Lake Forest Bank &Trust 549685EQ2 248,000 $100 0,45`.-a 283 OC928M3 6 &49!15 248,000 248,000 248,113 North Shore Community Bank 662326BVC 248,000 $100 0.451y. 217 OC928M3 0 &49!15 24&000 248,000 248,131 Tradition Capital Bank B9269FBKO 243,000 $100 0.40% 203 07fO3M3 07142M5 248,000 248,000 248,127 American Express Centurion Bank 02537DSL3 248,000 $100 0.70% 300 08Q9M3 OB131N6 243,000 248,000 248,224 Med a I I ion Bank of Utah 534U38Q33 248,000 $100 0.50% 300 06!26!14 12128M6 243,000 248,000 247,247 Safra National Bank 79658QEP4 248,000 $100 0.55% 196 O8-16l14 02M616 243,000 248,000 247,145 Enerbank USA 29266NAE0 248,000 $100 0.65% 300 07f24M4 43101!16 243,000 248,000 246,495 First Nabona I Bank 32114LAG4 248,000 $100 0,65% 294 07f24M4 03101!16 243,000 248,000 246,495 TCF Nabona I Bank 572276GD2 248,000 $100 0.70% 230 07Q4M4 09101!16 248,000 248,000 246,720 Talmer Bank 9 Trust 57432VAA3 248,000 $100 0.70% 163 00rW14 09/08116 248,000 248,000 246,672 Flushing Bank 34367A.PJ6 248,000 $100 0.70% 216 08715114 03. +15116 248,000 248,000 246,624 Goldman Sachs Bank 39147JLA8 248,000 $100 1.10% 263 09105113 09/06116 248,000 248,000 2431561 Great Southern Bank 39120VRK2 2481000 $100 1.00% 200 08128114 02128117 248,000 248,000 246,742 BMW Bank North America 0-5568p6 w2 2481000 $100 1.00% 281 03f-14M4 03M4M7 248,000 248,000 247,606 Ally Bank 6 W511 -DP5 2481000 $100 1.00% 261 03f17M4 03127M7 248,000 248,000 247,476 Barclays Bank +Delaware 66740KGE1 243,000 $100 1.05% 300 04f-14M4 O4.h8117 243,000 248,000 247,383 First Savings Bank 33521LAZ6 243,000 $100 1.10% 267 O8f21M4 0&r21M7 243,000 248,000 246 ,202 Provi dent Bank 743637BN6 243,000 $100 1.05% 239 00Q1M4 OB121M7 243,000 248,000 245,924 Spring Bank 849430AC7 2431000 $100 1.00% 294 00Q2M4 46122,17 243,000 248,000 245,911 First Bank of Highland 31B141CGO 2431000 $100 1.10% 190 00Q7f14 08.48M7 243,000 248,000 245,929 Homehanc 43736AFQ4 2431000 $100 1.10% 149 08127!14 06128M7 243,000 248,000 245,927 Highland Bank 429B62EK5 2431000 $100 1.05% 143 08129114 08129!17 243,000 248,000 245,946 Synovus Bank 871640FK1 2431000 $100 1.15% 223 08129!14 43.49!17 243,000 248,000 246,271 Bank Hapoalim 66251A064 2431000 $100 1.30% 09115!14 69.h&(17 243,000 248,000 246,406 Traditions Bank 89269CBJ0 2431000 $100 1.20% 229 07NW114 Mel&18 243,000 248,000 246,479 Middleton Community Bank 595669EA3 2431000 $100 1.25% 262 07MW114 02+09118 243,000 248,000 246,420 Wells Fargo Bank 949BSTNE3 2431000 $100 1.03% 262 COMOF13 0 &49118 243,000 248,000 254,059 Sallie Mae Bank +Salt Lake City 795450RA5 2431000 $100 2.15% 300 10MOF13 14.r30118 243,000 248,000 249,866 HSBC Bank USA 40434AJV2 246,000 $100 1.251/. 260 04107M4 04125!19 243,000 248,000 2431561 GE Capital Retail Bank 3616OKL60 246,000 $100 2.00% 300 06127M4 05130M9 243,000 248,000 247,216 Discover Bank 2546712E9 248,000 $100 2.00% 300 07f09M4 07MV-19 248,000 248,000 246,236 American Express Bank FSB 02567CAC4 248,000 $100 1.95% 300 0711OM4 47110!19 248,000 248,000 246,219 $9,672,044 $9,672,000 $9,672,000 $9,638,623 (4) (5} (6) YIELD ORIGINAL CURRENT CURRENT (1) (2) COUPON! TO (3) PURCHASE MATURITY BOOK BOOK MARKET DESCRIPTION - LIMITS CUSIP PAR VALUE Dollar Price MATURITY RATING DATE DATE PRICE VALUE VALUE CORPORATE BONUS - 10% Limit; $100 Berkshire Hathaway Finance Global Sr Unsecured 064654B1t8 Toyota Motor Credit Corp Domestic MTN Sr Unsecur 89233P5S1 Berkshire Hathaway Finance Global Sr Unsecured U84670BD9 Royal Bank of Canada 79019UD20 JPMorgan Chase 8 Co Global Sr Unsecured 46625HJG6 Toyota Motor Credit Corp Domestic MTN Sr Unsecur 89236TBP9 DAILY -No Limit: Reconciled General Checking Account Ending Balance Deposits in Orange Co. Investment Pool Local Agency Investment Fund CITY OF TUSTIN CASH AND INVESTMENTS 2,000,000 $100 0.60% AA 03!19114 0&115!16 2,678,456 2,618,458 2,667,296 2,000,000 $103 0.89% AA- 08!21194 69/12/17 2,059,442 2,659,442 2,045,994 4,000,000 $102 0.82% AA 06105114 69.31IM7 4,139,989 4,939,989 4,076,588 1,000,000 $100 1.17% As3e 06116/94 00 6M 7 1,002,101} 11402,100 997,5i4 2,000,000 $100 1.75% A 02/10/94 09125M6 2,005,350 2,005,360 1,995,706 1,000,000 $100 2.06% A 07122/94 07M8M9 1,003436 9,003,436 995,735 $12,060,004 Current Totals: $12,228,785 $1248,785 $12,118,953 0.24% WA (7) 0.35% (8) 0.24% NIA Current Daily -No Limit Total: Total: Unrestricted General Fund cash balance as of 09130114 (unaudited) Seri -restricted cash balance as of 09I3V14 (unaudited)( Capital Projects, Proceeds from Land Sales, Backbone Infrastructure) Restricted Cash balances as of 09f30f14 {unaudited] (Water. Special Revenue Funds, Cornn unity Facility Districts) CITY O F TU STIN CASH AND INVESTMENTS TOTAL: SUCCESSOR AGENCY FOR THE TUSTIN Ct7MVINITY REDEVELOPMENT AGENCY CASH AND INVESTMENTS TOTAL- PERFORMANCE MEASUREMENT: Weighted Average Days to Maturity: 729 Weghted Average Portfolio Yield: 0.60 Current 24 rno Treasury Equivalent: 0.56% SSA64,662 $8,664,652 10,399,642 10,399,642 27,065,397 27,065,397 $45,529,691 $45,529,691 $185,622,042 $184,921,353 $20,781,059 54.913,984 63.914,733 5148,669,776 35, 912,266 FOOTNOTES: (1) DESCRIPTION-LIMITS reflects the various authorized Investments as documented in the most CUITMt adopted investment policy and the allowable percentage of total portfolio per Investment type. (2) PAR VALUE is the frh0 value of the sectniry before any diacamt or premium is pad in purchase. (3) Highest rattrpe from Standards 8 Poor'& Moodys or IDC Publishing Inc for bank ratings. IDC ratings we 1 (lowest) to 300 (highest). (4) Original Purchase Price Is the amount paid for securities lees any discount pis any prensura 15) Current Book Value is original cost et securities less receipt of principal payments, net of amortized premiums/dacounua. (6) Cuimnt Market Value is the pice at which shmfor securities are currently tractin9. Current market values are provided by Bank of America and the Stata Treasurer's Office on all securities M deposits held in safekeeping for the City and the Successor Agency for the Tustin Cammmity Redevelopment Agency. Market vane differences we only booked at year end. (7) Earnings allowance on compensating hank batances to offset bank activity charges. Allowance is Included in the Average Yield calculation. The cash balances Include amouns'swep' from accumt far overnight Imcstrenta. (8) Orange County Treasury, honey Market Fund rating is AAAns Orange County Treasury Extended Fund is not rated by sponsor's choice. (9) Investr ems and earnings on monies held by fiscal agents generally are limited as to type and yield by the bond documents or current IRS codes. CERTIFICATION: We certify that this report reflects all City of Tustin and the Successor Agency for the Tustin Canmmmhity Redevelopment Agency (SATCRA) pooled Investments. Excluding the Barclays Bank PLC Domestic Sr. Unsecured bond, the ewestaxints represented in this report are in conformity with We caDIM adopted kwestment policy of the Clry of Tustin. The market values represented in this report am provided by Custodians and Trustees c4uently holding sec i hies for the City of Tustin and SATCRA The oweatmem program herein shown Provides sufficient cash flow liquidly to unrest the next twelve (12) made estimated expenditures. This statement is prepared in conformance with Section 57646 of the Government Code. Signed: * GGRobert Animism. Chair. City of Tustin Audit Commission Permits Arends -King, Finance Dbeaon City Treasurer CY (4) (5) (6) YIELD OWGINAL CURRENT CURRENT I7) (2) COUPON! TO (3) PURCHASE MATURITY BOOK BOOK MARKET DESCRIPTK)N .LIMITS CUSIP PAR VALUE Dollar Price MATURITY RATING DATE DATE PRICE VALUE VALUE Restricted Deposits with Fiscal Agents: (9) 1998 RDA Tax Allocation Refunding Bonds IIA S7,6891850 31.689.850 2010 RDA Haring Tax Allocation Bonds NIA 1,872.508 51,872,608 2010 RDA Tai Atiocation Bads WA 2.827.553 2.827.553 2011 Water Revenue Bonds WA 2.306,438 2,30 &438 2012 Refunding Water Revenue Bonds NIA 13 &088 136.088 2013 Water Revenue Bonnie NIA 327.011 327,011 CFD 04 -1 WA 593 .826 683.826 CFD 06-1 NIA 16.915.087 15.915.087 CFO 07 -1 WA 1,416.513 1.415.513 Total Restricted Deposits with fiscal Agents: 527,071874 $27.073,874 FOOTNOTES: (1) DESCRIPTION-LIMITS reflects the various authorized Investments as documented in the most CUITMt adopted investment policy and the allowable percentage of total portfolio per Investment type. (2) PAR VALUE is the frh0 value of the sectniry before any diacamt or premium is pad in purchase. (3) Highest rattrpe from Standards 8 Poor'& Moodys or IDC Publishing Inc for bank ratings. IDC ratings we 1 (lowest) to 300 (highest). (4) Original Purchase Price Is the amount paid for securities lees any discount pis any prensura 15) Current Book Value is original cost et securities less receipt of principal payments, net of amortized premiums/dacounua. (6) Cuimnt Market Value is the pice at which shmfor securities are currently tractin9. Current market values are provided by Bank of America and the Stata Treasurer's Office on all securities M deposits held in safekeeping for the City and the Successor Agency for the Tustin Cammmity Redevelopment Agency. Market vane differences we only booked at year end. (7) Earnings allowance on compensating hank batances to offset bank activity charges. Allowance is Included in the Average Yield calculation. The cash balances Include amouns'swep' from accumt far overnight Imcstrenta. (8) Orange County Treasury, honey Market Fund rating is AAAns Orange County Treasury Extended Fund is not rated by sponsor's choice. (9) Investr ems and earnings on monies held by fiscal agents generally are limited as to type and yield by the bond documents or current IRS codes. CERTIFICATION: We certify that this report reflects all City of Tustin and the Successor Agency for the Tustin Canmmmhity Redevelopment Agency (SATCRA) pooled Investments. Excluding the Barclays Bank PLC Domestic Sr. Unsecured bond, the ewestaxints represented in this report are in conformity with We caDIM adopted kwestment policy of the Clry of Tustin. The market values represented in this report am provided by Custodians and Trustees c4uently holding sec i hies for the City of Tustin and SATCRA The oweatmem program herein shown Provides sufficient cash flow liquidly to unrest the next twelve (12) made estimated expenditures. This statement is prepared in conformance with Section 57646 of the Government Code. Signed: * GGRobert Animism. Chair. City of Tustin Audit Commission Permits Arends -King, Finance Dbeaon City Treasurer CY CITY OF TUSTIN and THE SUCCESSOR AGENCY TO THE TUS TIN COMMUNJTY ,Rr=DEVELOPMENTAGENCY INVESTMENT REPORT INVESTMENT SUMMARY SEPTEMBER 30, 2014 PERFORMANCE MEASUREMEtFr: Weighted Average Portfolio Life (Days): 729 Weighted Average Portfo-lio Yield: 030% Current 24 mo Treasury Equivalent: 0.53% Cash with Fiscal Agents are the Reserve and Construction funds held by Trustees for various City and RDA bond issues. Investment options are limited to those specifically permitted by bond documents. Allowable Total Original Current Current Maximum Portion of Percentage Purchase Book Market DESCRIPTION PAR VALUE Maturity Portfolio of Portfolio Total Value Value U. S. Treasuries $28.000,OOD 5 yrs. No Limit 15.1% $27,949,103 $27,947,9 63 $27,8631666 Federal Agencies $86.850,006 5yrs 76% 47.4°x6 87,150,229 $87,950,229 $86,769,666 Municipal Bonds $1,000,666 5yrs 16% 0.5% 1,003,81111 $1,003,BDD 51,069,836 Commercial Paper $2,000,666 5 yrs. 16% 1.1% 1,996,442 $1,996,442 $1,996.733 Negotiable Certificates of Deposits $9,672,666 NIA 30% 5.2% 9,672,000 $9,672,666 $9,638,623 Corporate Bonds $12.000,006 5yrs 10% 6.61/6 12,228,785 $12,228,7B5 $12,198,953 Cash N +A NIA NIA 4,31/6 8,064,652 8,064,652 8,0641652 Deposits in Orange County Commingled Pool N +A NIA NIA 5.6% 90,399,642 10,399,642 10,399,642 Local Agency Investment Fund N +A NIA NIA 94.6% 27,065.397 27,065,397 27,065,397 900.0% $186,522,042 $185,522,042 $184,999,564 Restricted Cash with Fiscal Agents " IVA NIA NIA 27,0731874 27,073,&74 27,073,874 $312,595 916 $-212,595,916 $211,993,438 PERFORMANCE MEASUREMEtFr: Weighted Average Portfolio Life (Days): 729 Weighted Average Portfo-lio Yield: 030% Current 24 mo Treasury Equivalent: 0.53% Cash with Fiscal Agents are the Reserve and Construction funds held by Trustees for various City and RDA bond issues. Investment options are limited to those specifically permitted by bond documents. City of Tustin and The Successor Agency for the Tustin Community Redevelopment Agency July 2014 through September 2014 Investment Transactions 10 PURCHASES Settlement Accrued Yield to Description CUSIPit Trade Date Date Par Amount Principal Imerest Total Purchase Price Maturity Date Coupon Rate Maturity Fannie Mae (Federal Agency Bond) 3136rGiDG1 06126114 07/01/14 S 2,DDQCiDO 5 1,987,000 S 7,233 S 1,994,233 42/27/18 1.05% 123% Middleton Community Bank (Negotiable CD -FDIC Irrsd.) 596689EAS 06136114 07/09/14 $ 248,004 5 248,000 S - S 248,000 02109118 1.25% 125% Discover Bank (Negotiable CD) 2546712E9 06/36114 07/09/14 S 248,000 S 248,000 S S 248,000 07/019/19 2.00% 2-00% American Express Bank FSB (Negotiable CD -FDIC Insd.) 02587C4C4 06/36114 07110/14 S 248,000 $ 248,000 $ $ 248,000 07/10119 1.95% 195% Traditions Bank (Negotiable CD- FDICInsd.) 89269CSJ6 06126114 07118/14 $ 248,000 $ 248,000 S S 248,000 01118118 1.20% 120% Federal Horne Loan Bank (Federal Agency Band) 3133611/60 07/16114 07/14/14 5 2,DDD,000 5 1,98Q000 5 10,797 S 1,9911,797 07/25/18 1.15% 141% U-S. Treasury Note 912829TWO 07/11114 07/14/14 5 3,DDD,000 5 2,970,937 S 4,586 S 2,975,524 10131117 0.75% 165% Toyota Motor Cred it (Corporate Bond) 89236TBP9 07117114 07/22/14 $ 1,D00,000 $ 1,003,200 $ 236 $ 1,003,436 07 118119 2.13% 206% Fannie Mae (Federal Agency Bond) 3135G6TD5 07121114 07123/14 5 1,DDD,000 $ 993,900 $ 694 S 994,594 12128117 1.00% 118% Federal Horne Loan (Federal Agency Bond) 313375RN9 07/24114 07/25/14 S 3,DDD,000 $ 3,028,410 $ 11,167 S 3,039,577 03/11116 1.00% 0.42% U- S. Treasury Note 912B28WM8 07124114 07/25/14 S 5,D00,000 $ 4,994,500 $ 2,817 $ 4,997,317 05131/16 0.38% 0.43% TCF National Bank (Negotiable CD -FDIC Insd.) 872278GD2 07/24114 07130/14 S 248,000 S 248,000 5 - 5 248,000 08/OV16 0.70% 070% First National Bank {Negotiable CD) 32114L4G4 07124114 07130/14 $ 248,000 $ 248,000 S S 248,000 06101116 0.65% 4.69% Enerbank (Negotiable CD) 29266NA80 07/24114 07131/14 S 248,000 S 248,000 5 S 248,000 07/24/14 0.65% 065% Talmer Bank and Trust (Negotiable CD-FDIC lnsd) 87482VAA3 07/24114 08/06/14 S 248,000 S 248,000 5 S 248,000 08/OV16 0.70% 11.70% Fannie Mae (Federal Agency Bond) 313662361 07/24114 06/15/14 S 2,DDD,000 $ 2,000,000 S S 2,000,000 02/15/18 1.30% 130% Safra National Bank (Negotiable CD -FDIC Insd) 7865BQEP4 07/29114 08/15/14 S 248,000 S 248,000 S 5 248,000 02/16/16 0.55% Q55% Flushing Bank (Negotiable CD-FDIC lnsd.) 34387AAI8 07129114 08/15/14 $ 248,000 $ 248,060 $ - $ 248,000 06115/16 0.70% 0.70% Freddie Mac (Federal Agency Bond) 3134G5ECt4 07125114 06121/14 5 1,DDD,000 5 1,000,000 S S 110DO,D00 06121119 2.00% 2.00% U- S. Treasury Note 912828WX4 07131114 08/04/14 S 2,D00,000 $ 1,999,600 $ 108 $ 1,999,768 07131/16 0.50% 0.51% U-S. Treasury Note 912828WT3 07/31114 08/04/14 5 2,DDD,000 5 1,993,600 S 951 5 1,994,551 07/15/17 0.87% 0.99% Federal Horne Loan Bank (Federal Agency Band) 313WPDO 07131114 08121/14 S 3,DDD,000 $ 3,000,000 S - $ 3,0W OW 06121119 2.05% 2-65% Federal Horne Loan Bank (Federal Agency Step Up) 313wMT0 08165114 08 118/14 S 2,100,000 $ 2,100,000 $ 292 S 2,100,292 08113119 1 %to 39. Q99%to vaorst Providern Bank (Negotiable CD -FDIC Insd.) 743837BNX 08/14114 08/21/14 S 248,000 $ 248,000 S - 5 248,000 06/21117 1.05% 165% First Savings Bank (Negotiable CD- FDIClnsd_) 33621L426 08118114 08/21/14 S 248,000 $ 248,000 $ - $ 248,000 06121/17 1.10% 110% Toyota Motor Credit (Corporate Bond) 89233P5511 08118114 06121/14 S 2,000,000 S 2,055,000 S 4,442 S 2,059,442 01112117 0.89% Q89% Spring Bank (Negotiable CD -FDIC Insd.) 84943CAC7 08/18114 08/22/14 S 248,1100 $ 248,000 S - S 248,000 06/22117 1.00% 100% First Bank of Highland (Negotiable CD -FDIC Insd.) 319141C-GO 08118114 08/27/14 S 248)000 $ 248,000 $ - $ 248,000 06128117 1.10% 11096 Hamebanc {Negotiable CD -FDIC Insd_) 43738AFQ4 08/18114 08/27/14 S 248,1100 $ 248,000 S S 248,000 06/28/17 1.10% 110% Great Southern Bank (Negotiable CD--FDIC Intl_) 39120VRK2 08118114 08/28/14 S 248)000 $ 248,000 $ - $ 248,000 02128117 1.00% 100% Highland Bank (Negotia ble CD- FDICInsd.) 429&KE 5 08118114 06129/14 S 248,000 S 248,000 S S 248,000 06129117 1.05% 165% Synovus Bank (Negotiable CD-FDIC Insd.) 8716413W1 08118114 08/29/14 $ 248,000 $ 248,060 $ - $ 248,000 06129/17 1.15% 115% Freddie Mac (Federal Agency Bond) 3134G5HA6 08121114 09119/14 S 3,DDD,000 S 3,000,000 $ S 31000,000 09119116 0.70% 4.70% Federal Horne Loan Bank (Federal Agency Band) 313376TW8 08/22114 08/25/14 5 4,DD0,000 S 4,110,070 S 36,889 S 4,146,929 09 /09/16 0.64% 0.64% Freddie Mac (Federal Agency Bond) 3134G5GE9 08/22114 06126/14 S 3,DD0,000 S 3,000,000 $ - $ 31000,000 06/26116 0.57% 4.57% Federal Horne Loan Bank 313WU95 08/26114 08/27/14 5 3,DD0,000 $ 3,000,000 S 42 S 3,0011,042 05/26/16 0.50% 0.50% Bank Hapoalim BM NY (Negotiable CU-FDIC Insd_) 06251AD64 09104114 09/15/14 S 248,000 $ 248,000 $ - $ - 09115/17 1.30% 130% 10 Description CUSIP# Trade Date Date Par Amount Principal Interest Total PuF ch ase Price Maturity Date CoupanRate Maturity Federal Home Loan Bank (Federal Agency Band 313CA33B 04/16114 09130/14 $ 2,000,000 $ 2,060,000 $ - $ 2,406,000 09/30/19 2.10% 210% U-S. Treasury Note 91282SD98 09115114 09116114 S 2,066,OD0 $ 1,995,774 $ 55 $ 1,996,774 09115117 1.60% L0646 Freddie Mac (Federal Agency Bond) 3134G5KX2 04/29114 10/30/14 S 1,060,000 $ 1,000,000 $ - $ 11006,000 10/30/19 2.15% 215% SALES /MATURITIES /CALLS Purchase Principal Maturity Principal Sale /Maturity /Call Gain /Loss on yield to Description CUSIP# Trade Date Date Sales /Call Date ParArnount Amount Amount Principal Coupon Rate Maturity Sara National Bank Maturity) 78658A101 06/13113 07/28/14 S 248,000 S 248,000 $ 248,000 S 4.35% 0-35% U-S_ Treasury Note {Sale] 912828VD9 06/19113 05131/15 07124/14 $ 10,066,000 $ 10,D04,000 $ 10,009,000 $ 9,006 025% 0-2SY U-S_ Treasury Nate (Sale) 91282SYM 07/31114 07/15/17 08119/14 5 2,000,000 $ 1,993,600 $ 2,OMD60 S 6,400 0.98% 0-98% U-S_Treasury Notes (Maturity) 912S28RG7 '09/21/11 09115/14 $ 5,066,000 $ 4,985,397 $ 514001000 $ 14,6D3 025% 042% 11