HomeMy WebLinkAbout04 QUARTERLY INVESTMENT REPORTAgenda Item 4
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ACENDA
Reviewed: REPORT City Manager
A c+i rZ J' Finance Director
MEETING DATE: FEBRUARY 16, 2016
TO: JEFFREY C. PARKER, CITY MANAGER
FROM: MATTHEW S. WEST, ACTING FINANCE DIRECTOR
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 December 31, 2015 is rendered.
The City's total cash and investments as of December 31, 2015 were $191.5 million, a decrease of
$3.5 million from September 30, 2015 total cash and investments of $195 million. The decrease in
cash and investments of $3.5 million is primarily due to a payment to Tustin Unified School District
of $4 million for the planning and design of the 6-12 School Project per the School Facilities
Implementation, Funding, and Mitigation Agreement signed August 25, 2015.
The weighted average portfolio yield as of December 31, 2015 was 0.97%, 8 basis points higher
than the weighted average portfolio yield of 0.89% as of September 30, 2015. The weighted
average days to maturity were 729 as of December 31, 2015 and 697 days as of September 30,
2015. The primary reason for the slight increase in the weighted average portfolio yield and the
increase in the weighted average days to maturity is due to nine federal agency bonds being called
during October and November 2015 that were reinvested at slightly higher rates and longer
maturity dates.
QUARTERLY INVESTMENT REPORT FOR THE CITY OF TUSTIN AND THE SUCCESSOR AGENCY FOR THE
TUSTIN COMMUNITY REDEVELOPMENT AGENCY
February 16, 2016
Page 2 of 2
The investment portfolio is currently laddered to reflect the projected cash flow needs of the City
within the next three years for the completion of various capital projects primarily within the Legacy
and for water rehabilitation projects.
Matthew S. West
Acting Finance Director
Attachment: December 31, 2015 Quarterly Investment Report
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CITY OF TUSTIN and THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY
CORPORATE BOND RATINGS
December 31, 2015
Rating at Current Rating
Purchase Moody's S&P Fitch Complies?
Berkshire Hathaway Finance Global Sr Unsecured 084664BX8 $2,000,000 AA Aa2 AA- A+ Yes
Toyota Motor Credit Corp Domestic MTN Sr Unsecur 89233P5S1 2,000,000 AA- Aa3 AA- A Yes
Berkshire Hathaway Finance Global Sr Unsecured 084670BD9 4,000,000 AA Aa2 AA- A+ Yes
Royal Bank of Canada 78010UD20 1,000,000 Aa3 Aa3 AA- AA Yes
Royal Bank of Canada 78011DAC8 1,000,000 AAA Aaa NR AAA Yes
BB&T Corporation 05531FAM5 1,000,000 A2 A2 A- A+ Yes
UBS AG London H7210WAA0 1,000,000 MA Aaa NR AM Yes
John Deere Capital Corp 24422ESB6 2,125,000 A2 A2 A NR Yes
Wal-Mart Stores Inc. 931142DF7 1,000,000 AA Aa2 AA AA Yes
Johnson &Johnson Global Sr Unsecured 478160BG8 2,000,000 AAA Aaa AAA AM Yes
Microsoft Corporation Global Sr Unsecured 594918AV6 1,000,000 AAA Aaa AM AA+ Yes
Toyota Motor Credit Corp Domestic MTN Sr Unsecur 89236TBP9 1,000,000 A Aa3 AA- A Yes
Bank of Nova Scotia Global Sr Unsecured 064159GW0 1,500,000 Aa2 Aa2 A+ NR Yes
American Honda Finance Domestic MTN Series: A SR Unsec 02665WAU5 1,000,000 Al Al A+ NR Yes
Microsoft Corporation Global Sr Unsecured 594918BG8 1,000,000 AAA Aaa AM AA+ Yes
The City's investment policy requires that corporate issuances have at least an'A'rating from one of the three rating agencies
at the time of purchase. •
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4
CITY OF TUSTIN and THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY INVESTMENT REPORT
INVESTMENT SCHEDULE AS OF:
DECEMBER 31, 2015
(4) (5)
YIELD ORIGINAL COST/ CURRENT
(1) (2) COUPON/ TO (3) PURCHASE MATURITY CURRENT BOOK MARKET
DESCRIPTION-LIMITS CUSIP PAR VALUE Dollar Price MATURITY RATING DATE DATE VALUE VALUE
US TREASURY BILLS/NOTES-No Limit:
U.S.Treasury Note 912828WF3 3,000,000 $99 0.63% 05/13/14 11/15/16 3,008,803 2,996,016
U.S.Treasury Note 912828874 2,000,000 99 0.64% 02/12/15 02/15/17 2,005,148 1,994,922
U.S.Treasury Note 912828B74 5,000,000 $99 0.64% 11/05/14 02/15/17 5,005,048 4,987,305
U.S.Treasury Note 912828K66 2,000,000 $99 0.55% 05/13/15 04/30/17 1,998,431 1,989,532
U.S.Treasury Note 912828TG5 5,000,000 $99 0.58% 07/31/12 07/31/17 4,979,333 4,962,110
U.S.Treasury Note 912828D98 2,000,000 $99 1.06% 09/16/14 09/15/17 1,996,774 1,998,828
U.S.Treasury Note 912828TW0 3,000,000 $99 1.05% 07/14/14 10/31/17 2,975,523 2,984,064
U.S.Treasury Note 912828UJ7 2,000,000 $99 1.04% 11/24/14 01/31/18 1,995,564 1,990,000
U.S.Treasury Note 912828VE7 2,500,000 $100 0.92% 04/29/15 05/31/18 2,516,748 2,487,208
U.S.Treasury Note 912828XK1 5,000,000 $99 0.96% 08/28/15 07/15/18 4,992,731 4,954,885
U.S.Treasury Note 912828L81 1,000,000 $99 1.07% 11/03/15 10/15/18 994,970 988,984
U.S.Treasury Note 912828UE8 1,000,000 $99 1.03% 12/7/15 12/31/17 997,651 993,242
U.S.Treasury Note 912828N22 1,000,000 $100 1.26% 12/22/15 12/15/18 999,927 997,891
$34,500,000 $34,466,651 $34,324,987
FEDERAL AGENCIES-75%Limit:
Federal Home Loan Bank US Domestic 313370TW8 $4,000,000 $102 0.64% 08/25/14 09/09/16 $4,146,929 $4,033,596
Federal Home Loan Bank 3130A6MW4 1,000,000 $100 0.40% 10/13/15 10/28/16 1,000,000 997,543
Freddic Mac 3134G5LS2 2,000,000 $100 0.60% 11/17/14 11/17/16 2,000,000 1,997,720
Federal Home Loan Bank 3130A5UB3 2,000,000 $100 0.55% 06/26/15 12/16/16 2,000,000 1,995,196
Freddie Mac 3134G5VG7 2,000,000 $100 0.78% 12/29/14 12/29/16 2,000,000 2,000,600
Freddie Mac 3134G5AQ8 2,000,000 $100 0.70% 06/11/14 12/30/16 2,000,000 1,997,316
Freddie Mac 3134G6AY9 3,500,000 $100 0.70% 02/17/15 02/17/17 3,500,000 3,500,280
Federal Home Loan Bank 3130A3ML5 2,000,000 $100 0.75% 12/30/14 03/30/17 2,000,000 1,994,986
Federal Farm Credit Bank 3133EEZR4 2,000,000 $99 0.61% 04/29/15 04/21/17 2,000,066 1,989,830
Federal Farm Credit Bank 3133EELS7 1,000,000 $100 0.88% 01/27/15 07/27/17 1,000,000 1,000,020
Freddi Mac 3134G6WQ2 1,000,000 $100 1.00% 04/20/15 11/20/17 1,000,000 996,810
Fannie Mae(Step Up,Variable coupon) 3136G16M6 2,000,000 $100 0.70% 08/25/15 12/20/17 2,002,567 1,992,194
Federal Home Loan Bank 3130A5UN7 1,000,000 $100 1.00% 07/29/15 01/29/18 1,000,000 1,002,974
Federal Farm Credit Bank 3133EDQM5 2,000,000 $100 1.11% 02/20/15 02/20/18 2,000,000 1,995,422
Federal Home Loan Bank 3130A6B22 2,000,000 $100 1.10% 08/26/15 02/26/18 2,000,000 1,989,674
Fannie Mae 3136G1DG1 2,000,000 $99 1.05% 07/01/14 02/27/18 1,994,233 1,994,658
Federal Home Loan Bank 3130A5S59 1,000,000 $100 1.10% 06/29/15 03/29/18 1,000,000 1,000,626
Freddie Mac 3134G6ZT3 2,000,000 $100 1.20% 04/28/15 05/18/18 2,000,000 1,992,784
Federal Farm Credit Bank 3133EEM98 1,000,000 $99 1.01% 05/18/15 05/21/18 999,700 993,601
Freddie Mac 3134G74Z1 1,000,000 $99 1.17% 11/23/15 05/23/18 995,780 993,861
Freddie Mac 3134G84L0 1,000,000 $100 1.05% 11/25/15 05/25/18 1,000,000 993,010
Freddie Mac 3134G46D5 2,000,000 $99 1.29% 06/03/14 06/12/18 2,004,400 1,990,500
Freddie Mac 3134G7TS0 1,000,000 $100 1.25% 09/15/15 06/15/18 1,000,000 997,630
5
(4) (5)
YIELD ORIGINAL COST/ CURRENT
(1) (2) COUPON/ TO (3) PURCHASE MATURITY CURRENT BOOK MARKET
DESCRIPTION-LIMITS CUSIP PAR VALUE Dollar Price MATURITY RATING DATE DATE VALUE VALUE
FEDERAL AGENCIES-75%Limit:(continued)
Federal Home Loan Bank 3130A6AE7 2,000,000 $99 1.18% 09/18/15 09/14/18 1,999,362 1,990,108
Freddie Mac 3134G7UK5 1,000,000 $100 1.30% 09/24/15 09/24/18 1,000,000 1,001,269
Fannie Mae 3136G2PB7 2,000,000 $100 1.32% 10/29/15 10/29/18 2,000,000 1,994,290
Fannie Mae 3136G0SP7 250,000 $99 1.45% 06/03/14 10/30/18 249,485 250,139
Federal Farm Credit Bank 3133EFBQ9 2,000,000 $100 1.37% 09/01/15 03/01/19 2,000,000 1,983,140
Federal Farm Credit Bank 3133EEK33 1,850,000 $100 1.63% 05/13/15 05/13/19 1,850,417 1,852,877
Freddie Mac Global Bond 3134G3V72 2,000,000 $99 1.66% 03/27/15 11/21/19 2,007,340 2,002,594
Freddie Mac Global Bond 3134G32Z2 1,000,000 $99 1.71% 06/22/15 01/08/20 1,001,152 988,098
Fannie Mae 3135G0TB9 1,000,000 $99 1.63% 04/28/15 01/09/20 1,002,342 988,953
Freddie Mac(Step Up,Variable Coupon) 3134G6WP4 1,000,000 $100 1.00% 05/13/15 05/13/20 1,000,000 999,543
Federal Farm Credit 3133EEM56 1,000,000 $100 1.90% 05/13/15 05/19/20 1,000,000 994,667
Fannie Mae 3136G2KT3 2,000,000 $100 1.75% 05/14/15 05/26/20 2,000,000 1,995,438
Fannie Mae 3136G2J81 2,000,000 $100 1.85% 04/28/15 05/27/20 2,000,000 2,003,494
Federal Farm Credit Bank 3133EEX21 2,000,000 $100 2.00% 06/15/15 06/15/20 2,000,000 1,995,400
Federal Home Loan Bank(Step Up,Variable Coupon) 3130A6LJ4 1,000,000 $100 1.79% 10/22/15 10/22/20 1,000,000 990,776
Fannie Mae(Step Up,Variable coupon) 3136G2PV3 1,000,000 $100 2.04% 10/29/15 10/29/20 1,000,000 998,560
Fannie Mae 3135G0G56 1,000,000 $99 1.85% 11/09/15 11/25/20 995,780 988,573
Fannie Mae 3135G0G56 2,000,000 $99 1.85% 11/23/15 11/25/20 1,993,000 1,977,146
Federal Home Loan Bank(Step Up,Variable Coupon) 3130A6RE9 1,000,000 $100 1.80% 11/30/15 11/30/20 1,000,000 999,149
Fannie Mae 3135G0F73 2,000,000 $98 1.80% 11/18/15 11/30/20 1,973,783 1,964,470
Freddie Mac 3134G8DB2 1,000,000 $100 2.10% 12/29/15 12/29/20 1,000,000 1,000,646
$70,600,000 $70,716,336 $70,400,161
MUNICIPAL BONDS-15%Limit:
California St Txabl-General Obligation UNLTD 13063CPN4 $2,000,000 $100 1.15% Aa3 12/04/14 11/01/17 $2,006,632 $1,997,560
Fresno County CA Pension Obligation Bonds 358266CQ5 1,000,000 $101 2.28% AA- 09/02/15 08/15/19 1,007,845 1,001,740
California St Txabl-General Obligation UNLTD 13063CSQ4 2,000,000 $100 1.70% Aa3 04/29/15 04/01/20 2,009,380 1,981,160
$5,000,000 $5,023,857 $4,980,460
NEGOTIABLE CERTIFICATES OF DEPOSITS-30%Limit-FDIC Insured
Safra National Bank 78658QEP4 248,000 $100 0.55% 196 08/15/14 02/16/16 248,000 248,011
Enerbank USA 29266NA80 248,000 $100 0.65% 300 07/24/14 08/01/16 248,000 247,928
First National Bank Paragould 32114LAG4 248,000 $100 0.65% 294 07/24/14 08/01/16 248,000 247,928
TCF National Bank 872278GD2 248,000 $100 0.70% 230 07/24/14 08/01/16 248,000 247,998
Talmer Bank 8 Trust 87482VAA3 248,000 $100 0.70% 163 08/06/14 08/08/16 248,000 247,981
Flushing Bank 34387AAJ8 248,000 $100 0.70% 216 08/15/14 08/15/16 248,000 247,963
Great Southern Bank 39120VRK2 248,000 $100 1.00% 200 08/28/14 02/28/17 248,000 247,893
Barclays Bank/Delaware 06740KGE1 248,000 $100 1.05% 300 04/14/14 04/18/17 248,000 248,129
First Savings Bank 33621LAZ6 248,000 $100 1.10% 267 08/21/14 08/21/17 248,000 247,267
Provident Bank 743837BN5 248,000 $100 1.05% 239 08/21/14 08/21/17 248,000 247,110
Spring Bank 849430AC7 248,000 $100 1.00% 294 08/22/14 08/22/17 248,000 247,101
First Bank of Highland 319141CG0 248,000 $100 1.10% 190 08/27/14 08/28/17 248,000 247,094
Homebanc 437384F04 248,000 $100 1.10% 149 08/27/14 08/28/17 248,000 247,093
Highland Bank 429882EK5 248,000 $100 1.05% 143 08/29/14 08/29/17 248,000 247,084
Synovus Bank 87164DFK1 248,000 $100 1.15% 223 08/29/14 08/29/17 248,000 247,286
Investors Bank/Short Hills 46176PEF8 248,000 $100 1.00% 242 05/13/15 11/20/17 248,000 246,661
6
(4) (5)
YIELD ORIGINAL COST/ CURRENT
(1) (2) COUPON/ TO (3) PURCHASE MATURITY CURRENT BOOK MARKET
DESCRIPTION-LIMITS CUSIP PAR VALUE Dollar Price MATURITY DATE DATE VALUE VALUE
. . . .
NEGOTIABLE CD's-30%Limit-FDIC Insured(Continued)
Wex Bank 92937CDC9 249,000 $100 1.05% 300 11/04/15 11/20/17 249,000 247,930
Traditions Bank 89269CBJ0 248,000 $100 1.20% 229 07/18/14 01/18/18 248,000 246,413
Middleton Community Bank 596689EA3 248,000 $100 1.25% 252 07/09/14 02/09/18 248,000 246,500
Compass Bank 20451PKX3 248,000 $100 1.25% 203 05/13/15 05/21/18 248,000 245,617
Marlin Business Bank 57116AJE9 248,000 $100 1.45% 300 12/16/14 06/25/18 248,000 246,548
Security Federal Bank 81423LBW1 249,000 $100 1.25% 213 10/14/15 07/16/18 249,000 248,146
Third Federal Savings 8 Loan 88413QAZ1 248,000 $100 1.25% 224 02/13/15 08/13/18 248,000 247,829
Everbank/Jacsonville FL 29976DZX1 248,000 $100 1.45% 221 08/05/15 08/14/18 248,000 247,632
Wells Fargo Bank 94986TNE3 248,000 $100 1.83% 262 08/30/13 08/29/18 248,000 248,852
Ally Bank 02006LUS0 248,000 $100 1.60% 300 11/06/15 10/15/18 248,000 247,156
Bank of North Carolina 06414QWZ8 249,000 $100 1.20% 186 10/16/15 10/16/18 249,000 248,274
Sallie Mae Bank/Salt Lake City 795450RA5 248,000 $100 2.15% 300 10/30/13 10/30/18 248,000 250,147
First Bank McComb 319234AJ9 248,000 $100 1.50% 188 06/30/15 02/28/19 248,000 245,735
First South Bank 33650QAH9 248,000 $100 1.45% 180 08/05/15 02/28/19 248,000 247,630
First Farmers Bank&Trust 320165HC0 249,000 $100 1.40% 252 10/21/15 04/22/19 249,000 248,138
HSBC Bank USA 40434AJV2 248,000 $100 1.25% 250 04/07/14 04/25/19 248,000 245,495
First Business Bank 31938QL69 248,000 $100 1.45% 261 05/13/15 05/28/19 248,000 244,982
First Capital Bank 31944FBH2 248,000 $100 1.50% 166 01/14/15 05/28/19 248,000 248,067
GE Capital Retail Bank 36160KL60 248,000 $100 2.00% 300 05/27/14 05/30/19 248,000 247,889
Discover Bank 2546712E9 248,000 $100 2.00% 300 07/09/14 07/09/19 248,000 247,447
American Express Bank FSB 02587CAC4 248,000 $100 1.95% 300 07/10/14 07/10/19 248,000 247,439
Bridgewater Bank 108622EE7 248,000 $100 1.55% 276 01/14/15 07/26/19 248,000 248,084
Connectone Bank 20786ABA2 248,000 $100 1.55% 219 01/14/15 07/29/19 248,000 248,063
Investors Community Bank 46147UQR4 248,000 $100 1.70% 246 08/05/15 08/14/19 248,000 247,949
Merrick Bank 59013JKA6 249,000 $100 1.55% 300 10/09/15 10/09/19 249,000 248,077
Capital One Bank USA 140420QN3 248,000 $100 2.00% 300 11/05/14 11/05/19 248,000 247,416
CIT Bank 17284C2R4 248,000 $100 2.15% 284 11/05/14 11/05/19 248,000 248,323
American Express Centurion Bank 02587DWK0 248,000 $100 2.20% 300 12/21/14 11/29/19 248,000 247,320
First Source Bank 33646CFE9 248,000 $100 1.75% 276 06/30/15 12/30/19 248,000 244,804
GE Capital Bank 36162PFS6 248,000 $100 1.80% 281 01/14/15 01/16/20 248,000 247,820
Peoples United Bank 71270QLM6 248,000 $100 1.85% . 205 01/14/15 01/21/20 248,000 247,793
Bank of Georgetown 06424X878 248,000 $100 1.65% 202 01/14/15 01/30/20 248,000 247,743
Privatebank B Trust Co 74267GUW5 248,000 $100 1.80% 277 01/14/15 01/30/20 248,000 247,647
Machias Savings Bank 554479DS1 248,000 $100 1.65% 254 02/06/15 02/06/20 248,000 247,704
BMO Harris Bank(Step Up) 05573JR89 248,000 $100 2.07% 246 02/27/15 02/27/20 248,000 245,569
JP Morgan Chase Bank 48125T2L8 248,000 $100 2.00% 206 02/27/15 02/27/20 248,000 245,697
Goldman Sachs Bank USA 38148JMV0 248,000 $100 1.95% 287 03/11/15 03/11/20 248,000 245,156
Comenity Capital Bank 20033ALD6 248,000 $100 2.15% 300 06/29/15 06/29/20 248,000 245,903
Capital One NA 14042E5M8 248,000 $100 2.30% 248 08/05/15 08/12/20 248,000 247,748
BMW Bank North America 05580ACS1 248,000 $100 2.25% 300 08/13/15 08/21/20 248,000 247,692
$13,893,000 $13,893,000 $13,850,901
CORPORATE BONDS- 15%Limit:
Berkshire Hathaway Finance Global Sr Unsecured 0846648X8 $2,000,000 $100 0.60% AA 03/19/14 08/15/16 $2,018,458 $2,001,120
Toyota Motor Credit Corp Domestic MTN Sr Unsecur 89233P5S1 2,000,000 $103 0.89% AA- 08/21/14 01/12/17 2,059,442 2,017,186
Berkshire Hathaway Finance Global Sr Unsecured 084670BD9 4,000,000 $102 0.82% AA 06/05/14 01/31/17 4,139,989 4,034,708
UBS AG London H7210WAA0 1,000,000 $101 0.89% AAA 07/31/15 03/30/17 1,029,557 1,015,180
Royal Bank of Canada 78010UD20 1,000,000 $100 1.17% Aa3e 06/16/14 06/16/17 1,002,100 998,999
Royal Bank of Canada 78011DAC8 1,000,000 $100 1.20% AAA 06/08/15 09/09/17 1,004,433 995,273
7
(4) (5)
YIELD ORIGINAL COST/ CURRENT
(1) (2) COUPON/ TO (3) PURCHASE MATURITY CURRENT BOOK MARKET
DESCRIPTION-LIMITS CUSIP PAR VALUE Dollar Price MATURITY RATING DATE DATE VALUE VALUE
CORPORATE BONDS- 15%Limit:(Continued)
BB&T Corporation 05531FAM5 1,000,000 $99 1.45% A2 02/18/15 01/12/18 1,001,430 993,496
John Deere Capital Corp 24422ESB6 2,125,000 $100 1.17% A2 02/09/15 03/12/18 2,144,865 2,106,017
Wal-Mart Stores Inc. 9311420F7 1,000,000 $99 1.35% AA 11/24/14 04/11/18 994,209 995,826
Johnson&Johson Global Sr Unsecured 4781608G8 2,000,000 $101 1.27% AAA 08/17/15 12/05/18 2,031,000 2,019,086
Microsoft Corporation Global Sr Unsecured 594918AV6 1,000,000 $101 1.15% AAA 05/21/15 12/06/18 1,024,138 1,006,378
Toyota Motor Credit Corp Domestic MTN Sr Unsecur 89236TBP9 1,000,000 $100 2.06% A 07/22/14 07/18/19 1,003,436 1,001,792
American Honda Finance Domestic MTN Series: A SR Unsec 02665WAU5 1,000,000 $100 2.15% Al 12/3/15 3/13/20 1,004,876 995,116
Bank of Nova Scotia Global Sr Unsecured 064159GW0 1,500,000 $100 2.30% Aa2 10/21/15 10/21/20 1,503,750 1,486,290
Microsoft Corporation Global Sr Unsecured 594918BG8 1,000,000 $100 2.00% AAA 11/16/15 11/03/20 1,003,548 1,000,281
$22,625,000 Current Totals: $22,965,231 $22,666,748
DAILY-No Limit:
Reconciled General Checking Account Ending Balance 0.14% N/A (6) $7,867,983 $7,867,983
Deposits in Orange Co. Investment Pool 0.50% (7) 10,452,433 10,452,433
Local Agency Investment Fund 0.33% N/A 26,153,759 26,153,759
Current Daily-No Limit Total: $44,474,175 $44,474,175
$191,539,250 $190,697,432
CITY OF TUSTIN CASH AND INVESTMENTS
Unrestricted General Fund cash balance as of 11/30/15(unaudited) $23,099,349
Semi-restricted cash balance as of 11/30/15(unaudited)(Capital Projects,Proceeds from Land Sales,Backbone Infrastructure) 59,813,601
Restricted Cash balances as of 11/30/15(unaudited)(Water,Special Revenue Funds,Community Facility Districts,Bond Proceeds) 105,682,889
CITY OF TUSTIN CASH AND INVESTMENTS TOTAL: $188,595,839
SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY CASH AND INVESTMENTS TOTAL: 82,943,411
PERFORMANCE MEASUREMENT:
Weighted Average Days to Maturity: 729
Weighted Average Portfolio Yield: 0.97%
Current 24 mo Treasury Equivalent: 1.06%
(4) (5)
YIELD CURRENT CURRENT
(1) (2) COUPON/ TO (3) PURCHASE MATURITY BOOK MARKET
DESCRIPTION-LIMITS CUSIP PAR VALUE Dollar Price MATURITY RATING DATE DATE VALUE VALUE
Restricted Deposits with Fiscal Agents: (8)
1998 RDA Tax Allocation Refunding Bonds N/A $1,689,767 1,689,767
2010 RDA Housing Tax Allocation Bonds N/A 2,827,525 2,827,525
2010 RDA Tax Allocation Bonds N/A 1,872,494 1,872,494
2011 Water Revenue Bonds N/A 1,770,704 1,770,704
2012 Refunding Water Revenue Bonds N/A 0 0
2013 Water Revenue Bonds N/A 0 0
CFD 04-1 N/A 605,086 605,086
CFD 06-1 N/A 8,226,080 8,226,080
CFD 07-1 N/A 2,462,879 2,462,879
CFD 14-1 N/A 28,915,524 28,915,524
Total Restricted Deposits with Fiscal Agents: $48,370,059 48,370,059
8
FOOTNOTES:
(1) DESCRIPTION-LIMITS reflects the various authorized investments as documented in the most current adopted
investment policy and the allowable percentage of total portfolio per investment type.
(2) PAR VALUE is the full value of the security before any discount or premium is paid at purchase.
(3) Highest ratings from Standards&Poor's,Moody's or IOC Publishing Inc for bank ratings. IDC ratings are 1(lowest)to 300(highest).
(4) Original Purchase Price is the amount paid for securities less any discount plus any premium and accrued interest.Amotization of discount or premium booked annually
or when investment is sold/called/or matures.
(5) Current Market Value is the price at which similar securities are currently trading. Current market values are provided by
Bank of America and the State Treasurer's Office on all securities or deposits held in safekeeping for the City and the Successor Agency for the Tustin Community Redevelopment
Agency. Market value differences are only booked at year end.
(6) Earnings allowance on compensating bank balances to offset bank activity charges. Allowance is included in the
Average Yield calculation.The cash balances include amounts"swept"from account for overnight investments.
(7)Orange County Treasury Money Market Fund rating is AAAm.Orange County Treasury Extended Fund is not rated by sponsor's choice.
(8) Investments and earnings on monies held by fiscal agents generally are limited as to type and yield by the bond
documents.
CERTIFICATION:
We certify that this report reflects all City of Tustin and the Successor Agency for the Tustin Community Redevelopment Agency(SATCRA)pooled investments.
Excluding the Barclays Bank PLC Domestic Sr.Unsecured bond,the investments represented in this report are in
conformity with the current adopted investment policy of the City of Tustin. The market values represented in this report are
provided by Custodians and Trustees currently holding securities for the City of Tustin and SATCRA.
The investment program herein shown provides sufficient cash flow liquidity to meet the next twelve(12)months estimated
expenditures.
This statement is prepared in conformance with Section 53646 of the Government Code.
/'� �J,/ /
Ale
Signed: /` A/.•
i
himomura,Chair,City of Tustin Audit Commission Jeffry • P. ker,City Manager/City Treasurer
•
9
CITY OF TUSTIN and THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY INVESTMENT REPORT
INVESTMENT SUMMARY
DECEMBER 31,2015
Allowable Total Original Cost/ Current
Maximum Portion of Percentage Book Value Market
DESCRIPTION PAR VALUE Maturity Portfolio of Portfolio Total Value
U.S.Treasuries $34,500,000 5 yrs No Limit 18.0% $34,466,651 $34,324,987
Federal Agencies $70,600,000 5 yrs 75% 36.9% 70,716,336 70,400,161
Municipal Bonds $5,000,000 5yrs 15% 2.6% 5,023,857 4,980,460
Commercial Paper $0 5 yrs 15% 0.0% -
Negotiable Certificates of Deposits $13,893,000 N/A 30% 7.3% 13,893,000 13,850,901
Corporate Bonds $22,625,000 5 yrs 15% 12.0% 22,965,231 $22,666,748
Cash N/A N/A N/A 4.1% 7,867,983 7,867,983
Deposits in Orange County Commingled Pool N/A N/A N/A 5.5% 10,452,433 10,452,433
Local Agency Investment Fund N/A N/A N/A 13.7% 26,153,759 26,153,759
100.0% $191,539,250 $190,697,432
Restricted Cash with Fiscal Agents' N/A N/A N/A 48,370,059 48,370,059
$239,909,309 $239,067,491
PERFORMANCE MEASUREMENT:
Weighted Average Portfolio Life(Days): 729
Weighted Average Portfolio Yield: 0.97%
Current 24 mo Treasury Equivalent: 1.06%
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.
10
City of Tustin and The Successor Agency for the Tustin Community Redevelopment Agency
October 2015 through December 2015 Investment Transactions
PURCHASES
Trade Settlement Accrued Total Purchase Maturity Yield to
Description CUSIP! Date Date Par Amount Principal Interest Price Date Coupon Rate Maturi
Merrick Bank(Negotiable CD) 590131KA6 10/05/15 10/09/15 249,000 $ 249,000 $ - $ 249,000 10/09/19 1.55% 1.55%
Security Federal Bank(Negotiable CD) 81423LBW1 10/05/15 10/14/15 249,000 5 249,000 $ - 5 249,000 07/16/18 1.25% 1.25%
Ally Bank(Negotiable CD) 0]006050 10/06/15 10/15/15 248.000 $ 248,000 $ - $ 248,000 10/15/18 1.60% 1.60%
Bank of North Carolina(Negotiable CD) 06515DWZ8 10/05/15 10/16/15 248,0000 5 248,000 5 - $ 248,000 10/16/18 1.20% 1.20%
Bank of Nova Scotia(Corporate Bond) 0641590W0 10/15/15 10/21/15 1,500,000 $ 1,503,750 5 - $ 1,503,750 10/21/20 2.35% 2.29%
First Farmers Bank&Trust(Negotiable CD) 32016HCo 10/05/15 10/21/15 249,000 5 249,000 $ - $ 249,000 04/21/19 1.40% 1.40%
Federal Home Loan Bank(Federal Agency Bond) 3130A6MW4 10/13/15 10/21/15 1,000,000 $ 1,000,000 $ - $ 1,000,000 10/28/16 0 40% 0.40%
Federal Home Loan Bank(Federal Agency Bond)(Step Up) 3130A6U4 10/06/15 10/28/15 1,000,000 5 1,000,000 5 - $ 1,000,000 10/22/20 Variable 1.79%
Fannie Mae(Federal Agency Bond)(Step Up) 3136029B7 10/01/15 10/29/15 2,000,000 $ 2,000,000 $ - 5 2,000,000 10/29/18 Variable 1.32%
Fannie Mae(Federal Agency Bond)(Step UP) 313602PV3 10/08/15 10/29/15 1,000,000 5 1,000,000 5 - $ 1,00,000 10/29/20 variable 2.04%
U.S.Treasury Notes 912828181 11/03/15 11/04/15 1,000,000 $ 994,219 $ 478 $ 994,697 10/15/18 1.07% 1.07%
Microsoft Corporation Global Sr Unsecured(Corporate Bond) 5494918/308 11/03/15 11/06/15 1,000,000 5 1,003,380 $ 166 $ 1,003,546 11/03/20 1.93% 1.93%
Freddie Mac(Federal Agency Bond) 313408410 11/03/15 11/25/15 1,000,000 $ 1,000,000 $ - $ 1,000,000 05/25/18 1.05% 1.05%
Wet Bank(Negotiable Certificate of Deposit) 92937CDC9 11/04/15 11/20/15 249,000 $ 249,000 $ - $ 249,000 11/20/17 1.05% 1.05%
Fannie Mae(Federal Agency Bond) 313500056 11/09/15 11/25/15 1,000,000 $ 995,000 $ 280 $ 995,780 11/25/20 1.75% 1.85%
Freddie Mac(Federal Agency Bond) 313407421 11/10/15 11/23/15 1,000,000 $ 995,780 $ - $ 995,200 05/23/18 1.00% 1.00%
Fannie Mae(Federal Agency Bandl 113500F73 11/18/15 11/20/15 2,000,000 5 1,971,200 $ 2,583 $ 1,973,783 11/30/20 1.80% 1.80%
Fannie Mae(Federal Agency Bond) 313560056 11/23/15 11/25/15 2,000,000 $ 1,993,000 5 - $ 1,993,00 11/25/20 1.80% 1.80%
Federal Home Loan Bank(Federal Agency Bondi 3130A6RE0 11/30/15 11/30/15 1,000,000 $ 1,000,000 5 - $ 1,000,000 11/30/20 1.79% 1.79%
Freddie Mac(Federal Agency Bond) 313408082 12/3/15 12/29/15 1,000,000 $ 1,000,000 $ $ 1,000,000 12/29/20 2.10% 2.10%
American Honda(Corporate Bond) 02665WAU5 12/3/15 12/8/15 1,000,000 $ 999,800 5 5,076 $ 1,004,876 3/13/20 2.15% 2.15%
U.S.Treasury Notes 912828UE8 12/3/15 12/7/15 1,000,000 $ 994,390 $ 3,261 $ 997,651 12/31/17 0.75% 1.03%
11.5.Treasury Notes 912828%22 12/21/15 12/22/15 1,000,000 $ 999,688 $ 239 $ 999,927 12/15/18 1.25% 1.26%
SALES/MATURITIES/CALLS
Purchase Principal Net Amortized
Trade Maturity Sales/Call Principal Sale/Maturity/C Gain/Noss) Premium Coupon Yield to
Description CUSIPN Date Date Date Par Amount Amount all Amount on Principal Interest Rate Maturity
Ally Bank(Negotiable CD)(SALE) 0206LDP5 03/17/14 03/27/17 10/09/15 $ 248,000 $ 248,000 $ 247,628 $ (372) $ - 1.00% 1.00%
Federal Farm Credit Bank(Federal Agency Bond)ICALLI 31335E1%8 01/20/15 04/23/18 10/13/15 $ 3,00,00 $3,000,000 $ 3,000,000 $ - $ - 1.23% 1.23%
Freddie Mac(Federal Agency Bond)(CALL) 313463%97 02/03/15 10/10/19 10/13/15 $ 1,750,000 $1,745,625 $ 1,750 000 $ 4,375 $ - 1.50% 1.56%
Federal Home Loan Bank(Federal Agency Bond)(CALL) 313361U0 07/10/14 07/25/18 10/26/15 $ 2,000,000 $1,980,000 $ 2,000,000 $ 20,000 5 - 1,15% 140%
Federal Home Loan Bank(Federal Agency Bond)(CALL) 3130A4V58 04/01/15 10/27/17 10/27/15 $ 2,000,000 $2,000,000 $ 2,000,000 $ - $ - 1,0% 1.00%
Freddie Mac(Federal Agency Bond)(CALL) 3134G7HK0 07/01/15 07/28/17 10/28/15 $ 2,000,000 $2,000,00 $ 2,000,000 $ - $ - 0.90% 0.90%
Federal Home Loan Bank(Federal Agency Bond)(CALL) 3130A4214 05/15/15 05/13/20 11/13/15 $ 2.00,00 $2,00,000 $ 2,000,000 $ $ - 1.25% 1.25%
Fannie Mae(Federal Agency Bond)(SALE) 3136023/31 11/18/15 02/15/18 11/20/15 $ 2,000,000 $2,000,000 $ 2,002,000 $ 2,000 $ - 1.30% 1.30%
Federal Home Loan Bank(Federal Agency Bond)(CALL) 3130A44P4 02/04/15 11/27/17 11/27/15 $ 2,000,000 52,000,000 $ 2.000,000 $
Federal home Loan Bank(Federal Agency Bond)(CALL) 3130A4CB6 02/27/15 02/27/20 11/27/15 $ 2,000,000 $2,000,000 $ 2,000,000 $ - $ - 1.25% 1.25%
Medallion Bank(Negotiable CD)(MATURITY) 58403/3033 6/20/14 12/28/15 12/25/2015 $ 248,000 $ 248,000 $ 248,000 0.50% 0.50%
U.S.Treasury Notes(MATURITY) 912828A67 1/8/14 12/31/15 12/31/2015 $ 3,000,000 $2,990,165 $ 3,000,000 $ 9,835 0.25% 0.42%
11