HomeMy WebLinkAbout06 QUARTERLY INVESTMENT REPORT FOR THE CITY OF TUSTIN AND THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCYAgenda Item 6
•
Reviewed.-
AGENDA
eviewed:A E r DA REPORT City Manager
Finance Director
MEETING DATE: FEBRUARY 21, 2017
TO: JEFFREY C. PARKER, CITY MANAGER
FROM: JOHN A. BUCHANAN, 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, 2016 is rendered.
The City's total cash and investments as of December 31, 2016 were $183.2 million, a decrease of
$8.3 million from December 31, 2015 total cash and investments of $191.5 million. The decrease in
cash and investments of $8.3 million is due to various outflows associated with capital projects.
The weighted average portfolio yield of as of December 31, 2016 was 0.99%, two basis points above
the weighted average portfolio yield of 0.97% as of September 30, 2016. The weighted average
days to maturity was 452 as of December 31, 2016 and 441 days as of September 30, 2016. 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 the acquisition of securities (federal agency, certificate
of deposits, and corporate bonds) in the four (4) and five (5) year maturities. These acquisitions
were offset by securities that were either called or matured during this quarter. As of the end of the
quarter, the portion of the portfolio that's invested in corporate notes is nearing the policy limit of 15%.
Currently, the City has 12.54% of its portfolio invested in corporate notes.
QUARTERLY INVESTMENT REPORT FOR THE CITY OF TUSTIN AND THE SUCCESSOR AGENCY FOR THE
TUSTIN COMMUNITY REDEVELOPMENT AGENCY
February 21, 2017 Page 2 of 2
The investment portfolio is currently laddered to reflect the projected cash flow needs of the City
within the next two years for the completion of various capital projects primarily within the Legacy,
for water rehabilitation projects, and for funding of the new Tustin Unified School District school
building project.
The attached report was produced using the Tracker Portfolio Accounting and Reporting, which the
City is utilizing on a subscription basis. The application provides greater efficiency and accuracy in
tracking our investment portfolio and improves internal controls, including verification of interest
payments. Using the new application, we are able to daily update the data for new purchases,
maturities and calls as they occur. The reporting capabilities will provide valuable information for
managing the City's portfolio, ensuring safeguarding the prudent investment of City funds.
ohn Buchanan
Ac mg Finance Director
Attachment: December 31, 2016 Quarterly Investment Report
900.0000
800.0000
700.0000
600.0000
500.0000
400.0000
300.0000
200.0000
100.0000
1.30%
1.20%
1.10%
1.00%
0.90%
0.80%
0.70%
0.60%
0.50%
0.40%
0.30%
0.20%
0.10% ....... ...... ...
0.00%
Oti3 Otib Otib O,b Otib Otih O,h O,h 0,1h O,b O,h 0,1h O,h
--V—City of Tustin tUS Treasury/2yr —0--LAIF Yield%)
Negotiable
Certificate of Corporate
Deposit Bonds
$14,883,000 ,-$22,969,145
5.12% /� 12.54%
Municipal Bonds `
$5,023,858
2.749'
I
Federal
Agencies t.. US Treasury
$38,893,500 $31,457,575
21.23% 17.17%
Liquid (Daily)
$70,001,723
Negotiable
Certificate of
Municipal
Bonds Deposit
$5,023,557. $13,593,000
2.62% 7.25%
'OL V�,
December 2015
Corporate
Bonds
$22,965,231
.11.99%
Federal -4q
Agencies
$70,716,336
36.92%
I
USTreasury
$34,466,651
17.99%
Liquid (Daily)
$44,474,175
23.22%
CITY OF TUSTIN
Quarterly Investment Report
December 31, 2016
Liquidity Distribution
60.0%
ae
50.0%
40.0%
30.0%
20.0%
10.0% s
N ae
N
0.0%
UP TO 1 2 YEARS 3 YEARS 4 YEARS 5 YEARS > 5 YEARS
YEAR
1year 02years 133years 04years 135years 0>5years
COMPLIANCE
Investment Policy
55 years maturity n/a Yes
75% of Fiscal Year General Fund
Budgeted Expenditures 5 1 year 183.84% Yes
Commercial Paper and Commercial Notes
5 5% of total portfolio in one issuer 3.27% Yes
City of Tustin / December 2016 Page 3 of 15
Total % Invested
Compliance
Commercial Notes
515% oftotal portfolio
12.54%
Yes
55 years remaining maturity
n/a
Yes
Commercial Paper
525% oftotal portfolio
0.00%
Yes
5 270 days remaining maturity
n/a
Yes
If >_ 15% oftotal portfolio, weighted avg
must be 5 90 days
n/a
Yes
Municipal Bonds #
-
515% oftotal portfolio
2.74%
Yes
5 5% in one issuer
2.18%
Yes
US Agency Bonds / Notes W
575% oftotal portfolio
21.23%
Yes
55 years remaining maturity
n/a
Yes
US Treasury
55 years remaining maturity
n/a
Yes
Certificate of Deposit - Negotiable
-
530% of total portfolio
8.12%
Yes
55 years maturity n/a Yes
75% of Fiscal Year General Fund
Budgeted Expenditures 5 1 year 183.84% Yes
Commercial Paper and Commercial Notes
5 5% of total portfolio in one issuer 3.27% Yes
City of Tustin / December 2016 Page 3 of 15
CITY OF TUSTIN
Quarterly Investment Report
December 31, 2016
COMPLIANCE
Investment Policy/ Corporate Bonds
Corporate Bonds are required, at Settlement Date, to have a "A" rating from one of the three rating agencies.
Apple Inc.
Toyota Motor Credit
Berkshire Hathaway
Royal Bank of Canada
Royal Bank of Canada
BB&T Corporation
UBS AG London
John Deere Capital Corporation
Wal-Mart Stores Inc.
Johnson & Johnson
Microsoft Corporation
Toyota Motor Credit
Bank of Nova Scotia
American Honda Finance
Microsoft Corporation
CUSIP Face Amount
037833BS8
89233P5S1
084670BD9
7801OUD20
78011DAC8
05531FAM5
H7210WAAO
24422ESB6
931142DF7
478160BG8
594918AV6
89236TBP9
0641596 W 0
02665 W AU5
594918BG8
2,000,000
2,000,000
4,000,000
1,000,000
1,000,000
1,000,000
1,000,000
2,125,000
1,000,000
2,000,000
1,000,000
1,000,000
1,500,000
1,000,000
1 nnn nnn
LL,bLb,000
Rating
Settlement Date
AA+
AA-
AA
Aa3
AAA
A2
AAA
A2
AA
AAA
AAA
A
Aa2
Al
AAA
Compliance
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
City of Tustin / December 2016 Page 4 of 15
Current Rating
Moody's
S&P
Fitch
Aa1
AA+
NR
Aa3
AA-
A
Aa2
AA
A+
Aa3
AA-
NR
Aaa
NR
NR
A2
A-
A+
Aaa
NR
AAA
A2
A
NR
Aa2
AA
AA
Aaa
AAA
AAA
Aaa
AAA
AA+
Aa3
AA-
A
Aa3
A+
NR
Al
A+
NR
Aaa
AAA
AA+
Compliance
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
City of Tustin / December 2016 Page 4 of 15
CITY OF TUSTIN•
Quarterly Investment Report
December 31, 2016 1w
Cash and Investments /Summary
Ill
Description /Limits
Daily - Limit:
[2] [3] [4] [5]
Face Amount YTM@Cost Credit Rating Cost Value +Accrued Market Value
Shares Interest
Investment Portfolio 112,908,000.00 1.27 113,227,081.19 112,639,040.35
[6] Reconciled /Bank of America Account - General Checking
Orange County Investment Pool
LAIF / Local Agency Investment Fund
Performance Measurement
0.25 N/A 24,560,632.55 24,560,632.55
0.65 [7] 10,522,795.10 10,522,795.10
0.72 N/A 34,918,295.01 34,918,295.01
70,001,722.66 70,001,722.66
Investment Portfolio TOTAL 183,228,803.85 182,640,763.01
Weighted Average Days to Maturity 452
Weighted Average Yield 0.99%
Benchmark/Treasury 2 Year 1.20%
Restricted / Un -Restricted Funds
UN -RESTRICTED General Fund cash balance as of 12/31/16 (unaudited) 22,643,354.81
SEMI -RESTRICTED Cash Balance as of 12/31/16 (unaudited) 57,581,650.54
Capital Projects, Proceeds from Land Sales, Backbone Infrastructure
RESTRICTED Cash balances as of 12/31/16 (un -audited) 98,950,863.93
Total 179,175,869.28
Successor Agency
Comm unity Redevelopment Agency / Cash & Investments Total 4,052,934.57
City of Tustin /December 2016 Page 5 of 15
CITY OF TUSTIN
Quarterly Investment Report
December 31, 2016
Restricted Deposits with Fiscal Agents
Ill
Description /Limits
2016 Successor Agency Tax Allocation Bonds, Refunding
2016 Water Revenue Bonds, Refunding
2012 Water Revenue Bonds - Refunding
2013 Water Revenue Bonds
CFD 04-1
CFD 06-1
CFD 07-1
CFD 14-1
[21 [31 [41 [51
Face Amount YTM@Cost Credit Rating Cost Value +Accrued Market Value
Shares Interest
0.05
N/A
0.05
0.05
14,106.66
N/A
14,106.66
14,106.66
17.62
N/A
17.62
17.62
37.20
N/A
37.20
37.20
631,993.64
N/A
631,993.64
631,993.64
6,454,333.86
N/A
6,454,333.86
6,454,333.86
2,434,685.85
N/A
2,434,685.85
2,434,685.85
27,964,412.63
N/A
27,964,412.63
27,964,412.63
37,499,587.51
37,499,587.51
37,499,587.51
Restricted Deposits with Fiscal Agents TOTAL 37,499,587.51 37,499,587.51
City of Tustin /December 2016 Page 6 of 15
CITY OF TUSTIN
Quarterly Investment Report
December 31, 2016
Footnotes
(1) DESCRIPTION -LIMITS reflects the various authorized investments as documented in the most current adopted
investment policy and the allowable percentage oftotal portfolio per investment type.
(2) FACE AMOUNT/SHARES is the full value of the security before any discount or premium is paid at purchase.
(3) CREDIT RATING is the highest ratings from Standards & Poor's, Moody's or IDC Publishing Inc for bank ratings. IDC ratings are 1 (lowest) to 300 (highest).
(4) COST VALUE + ACCRUED INTEREST is the original amount paid, including premiums/discounts, and purchased accrued interest.
Amortization of discount/premium booked annually or when investment is sold/called/or matures.
(5) 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 Comm unity 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 INVESTMENT POOL 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.
Certifications W
We certify that this report reflects all City of Tustin and the Successor Agency for the Tustin Community Redevelopment Agency (SATCRA) pooled investments.
The investments represented in this report are in conformity with the current adopted investment policy ofthe City of Tustin. The market values represented in
this report are provided by the Custodian Bank 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 ofthe Government Code.
R. Lawrence Friend, Chair Jeffrey C. Parker, City Manager/Treasurer
City of Tustin Audit Commission City of Tustin
City of Tustin /December 2016 Page 7 of 15
CITY OF TUSTIN
31,500,000.00
Quarterly Investment Report
No Limit
December 31, 2016
31,457,574.66
Compliance / Investment Policy
US Agency
Description/Limits Face Amount Maximum Maturity- Allowable Total Cost Value+Accrued Market Value
Shares Years Portfolio of Percentage of Interest
Portfolio Portfolio
US Treasury
31,500,000.00
5
No Limit
17.17%
31,457,574.66
31,473,016.50
US Agency
38,900,000.00
5
75%
21.23%
38,893,500.48
38,614,752.60
Municipal Bonds
5,000,000.00
5
15%
2.74%
5,023,857.78
4,995,950.00
Commercial Paper
0.00
5
15%
0.00%
0.00
0.00
Certificate of Deposit/Negotiable
14,883,000.00
N/A
30%
8.12%
14,883,000.00
14,925,073.87
Corporate Bonds
22,625,000.00
5
15%
12.54%
22,969,148.27
22,630,247.38
Cash
N/A
N/A
N/A
13.40%
24,560,632.55
24,560,632.55
Orange County Investment Pool
N/A
N/A
N/A
5.74%
10,522,795.10
10,522,795.10
LAIF / Local Government lnvestmen Pool
N/A
N/A
N/A
19.06%
34,918,295.01
34,918,295.01
100.00%
183,228,803.85
182,640,763.01
Restricted Cash with Fiscal Agents * _
37,499,587.51 37,499,587.51
Investment Portfolio TOTAL 220,728,391.36 220,140,350.52
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 /December 2016 Page 8 of 15
City of Tustin
Compliance Report- Investment Policy
Report Format: By Transaction
Group By: Asset Class
Portfolio/ Report Group: All Portfolios
As of 12/31/2016
Days To
Maturity
Settlement
YTM @
Credit
Credit
Face
Cost Value + Accrued
% of
Description
CUSIP/Ticker
Maturity
Date
Date
Cost
Rating 1
Rating 2
Amount/Shares
Interest
Cost Price
Market Value
Portfolio
> Liquid Assets
Local Agency
Investment Fund LGIP
LGIP0936
1
N/A
6/30/2015
0.719
NR
NR
33,869,462.29
33,869,462.29
100
33,869,462.29
18.50
Bank America -
Checking MM
MM0220
1
N/A
6/30/2015
0.250
NR
NR
24,560,632.55
24,560,632.55
100
24,560,632.55
13.41
Orange County
Investment Pool LGIP
LGIP91-E
1
N/A
6/30/2015
0.654
NR
NR
10,522,795.10
10,522,795.10
100
10,522,795.10
5.75
Local Agency
Investment Fund LGIP
LGIP0002
1
N/A
6/30/2015
0.719
NR
NR
1,048,832.72
1,048,832.72
100
1,048,832.72
0.57
Sub Total / Average
1
0.545
70,001,722.66
70,001,722.66
100
70,001,722.66
38.23
Certificate of Deposit -
Negotiable 30%
Great Southern Bank 1
39120VRK2
59
2/28/2017
8/28/2014
1.000
NR
NR
248,000.00
248,000.00
100
248,148.80
0.14
2/28/2017
Barclays Bank 1.05
4/18/2017
06740KGE1
108
4/18/2017
4/15/2014
1.050
NR
NR
248,000.00
248,000.00
100
248,335.30
0.14
Provident Bank 1.05
743837BN5
233
8/21/2017
8/21/2014
1.050
NR
NR
248,000.00
248,000.00
100
248,362.58
0.14
8/21/2017
Spring Bank Bronx NY 1
8/22/2017
849430AC7
234
8/22/2017
8/22/2014
1.000
NR
NR
248,000.00
248,000.00
100
248,361.09
0.14
First Bank IL 1.1
8/28/2017
319141CGO
240
8/28/2017
8/27/2014
1.100
NR
NR
248,000.00
248,000.00
100
248,371.01
0.14
Homebanc Naional 1.1
8/28/2017
43738AFQ4
240
8/28/2017
8/27/2014
1.100
NR
NR
248,000.00
248,000.00
100
248,370.76
0.14
Synovus Bank GA 1.15
8/29/2017
87164DFK1
241
8/29/2017
8/29/2014
1.150
NR
NR
248,000.00
248,000.00
100
248,450.37
0.14
Highland Bank MN 1.05
429882EK5
241
8/29/2017
8/29/2014
1.050
NR
NR
248,000.00
248,000.00
100
248,369.52
0.14
8/29/2017
Wex Bank 1.05
11/20/2017
92937CDC9
324
11/20/2017
11/20/2015
1.050
NR
NR
249,000.00
249,000.00
100
249,500.49
0.14
Investors Bank NJ 1
46176PEF8
324
11/20/2017
5/20/2015
1.000
NR
NR
248,000.00
248,000.00
100
248,368.28
0.14
11/20/2017
Traditions Bank AL 1.2
1/18/2018
89269CBJ0
383
1/18/2018
7/18/2014
1.200
NR
NR
248,000.00
248,000.00
100
248,392.83
0.14
Middleton Community
596689EA3
405
2/9/2018
7/9/2014
1.250
NR
NR
248,000.00
248,000.00
100
248,496.74
0.14
Bank WI 1.25 2/9/2018
Compass Bank AL 1.25
5/21/2018
20451PKX3
506
5/21/2018
5/20/2015
1.250
NR
NR
248,000.00
248,000.00
100
248,313.97
0.14
Marlin Business Bank
57116AJE9
541
6/25/2018
12/23/2014
1.450
NR
NR
248,000.00
248,000.00
100
248,948.35
0.14
UT 1.45 6/25/2018
Page 9 of
15
Description
CUSIP/Ticker
Days To
Maturity
Maturity
Date
Settlement
Date
YTM @
Cost
Credit
Rating 1
Credit
Rating 2
Face
Amount/Shares
Cost Value + Accrued
Interest
Cost Price
% of
Market Value Portfolio
Third Federal Savings
1.25 8/13/2018
88413QAZ1
590
8/13/2018
2/13/2015
1.250
NR
NR
248,000.00
248,000.00
100
249,935.14
0.14
Everbank Jacksonville
29976DZX1
591
8/14/2018
8/14/2015
1.450
NR
NR
248,000.00
248,000.00
100
248,856.34
0.14
FL 1.45 8/14/2018
Ally Bank1.6
10/15/20188
02006LUSO
653
10/15/2018
10/15/2015
1.600
NR
NR
248,000.00
248,000.00
100
249,748.40
0.14
Bank North Carolina NC
06414QWZ8
654
10/16/2018
10/16/2015
1.200
NR
NR
249,000.00
249,000.00
100
250,855.30
0.14
1.2 10/16/2018
Sallie Mae Bank UT
2.15 10/30/2018
795450RA5
668
10/30/2018
10/30/2013
2.150
NR
NR
248,000.00
248,000.00
100
251,777.04
0.14
Metro City Bank GA 1
1/17/2019
59161TA36
747
1/17/2019
8/17/2016
1.000
NR
NR
248,000.00
248,000.00
100
246,269.46
0.14
First Service Bank 1
2/19/2019
33640VBQO
780
2/19/2019
8/17/2016
1.000
NR
NR
248,000.00
248,000.00
100
245,995.17
0.14
Farm Bureau Bank 1
2/19/2019
30766OK38
780
2/19/2019
8/17/2016
1.000
NR
NR
248,000.00
248,000.00
100
246,150.42
0.14
First Bank MS 1.5
319234AJ9
789
2/28/2019
6/30/2015
1.500
NR
NR
248,000.00
248,000.00
100
249,369.70
0.14
2/28/2019
First South Bank NC
1.45 2/28/2019
33650QAH9
789
2/28/2019
8/28/2015
1.450
NR
NR
248,000.00
248,000.00
100
248,310.74
0.14
HSBC Bank Var.
Negotiable CD
40434AJV2
845
4/25/2019
4/29/2014
1.260
NR
NR
248,000.00
248,000.00
100
245,048.80
0.14
4/25/2019
First Capital Bank VA
1.5 5/28/2019
31944FBH2
878
5/28/2019
1/28/2015
1.500
NR
NR
248,000.00
248,000.00
100
251,473.74
0.14
First Business Bank WI
31938QL69
878
5/28/2019
5/28/2015
1.450
NR
NR
248,000.00
248,000.00
100
248,050.84
0.14
1.45 5/28/2019
Synchrony Bank UT
(GE) 2 5/30/2019
3616OKL60
880
5/30/2019
5/30/2014
2.000
NR
NR
248,000.00
248,000.00
100
251,327.66
0.14
Discover Bank 2
7/9/2019
2546712E9
920
7/9/2019
7/9/2014
2.000
NR
NR
248,000.00
248,000.00
100
251,205.90
0.14
American Express 1.95
7/10/2019
02587CAC4
921
7/10/2019
7/10/2014
1.950
NR
NR
248,000.00
248,000.00
100
251,208.38
0.14
dgewater
1.55 7/26/2 Bank MN
1.55 7/26/2019
108622EE7
937
7/26/2019
1/27/2015
1.550
NR
NR
248,000.00
248,000.00
100
248,471.45
0.14
Connectone Bank 1.55
20786ABA2
940
7/29/2019
1/28/2015
1.550
NR
NR
248,000.00
248,000.00
100
251,808.54
0.14
7/29/2019
Investors Bank WI 1.7
8/14/2019
46147UQR4
956
8/14/2019
8/14/2015
1.700
NR
NR
248,000.00
248,000.00
100
251,799.36
0.14
Medallion Bank UT 1.2
58403B4W3
961
8/19/2019
8/19/2016
1.200
NR
NR
248,000.00
248,000.00
100
245,403.19
0.14
8/19/2019
FNB of Mcg regor TX 1.1
32112UCD1
961
8/19/2019
8/18/2016
1.100
NR
NR
248,000.00
248,000.00
100
245,522.23
0.14
8/19/2019
Merrick Bank UT 1.55
590133KA6
1012
10/9/2019
10/9/2015
1.550
NR
NR
249,000.00
249,000.00
100
252,484.26
0.14
10/9/2019
Page 10 of 15
Description
CUSIP/Ticker
Days To
Maturity
Maturity
Date
Settlement
Date
YTM @
Cost
Credit
Rating 1
Credit
Rating 2
Face
Amount/Shares
Cost Value + Accrued
Interest
Cost Price
% of
Market Value Portfolio
Capital One 2
140420QN3
1039
11/5/2019
11/5/2014
2.000
NR
NR
248,000.00
248,000.00
100
251,834.08
0.14
11/5/2019
City Bank UT 2.15
11/5/2019
17284C2R4
1039
11/5/2019
11/5/2014
2.150
NR
NR
248,000.00
248,000.00
100
252,239.81
0.14
American Express 2.2
11/29/2019
02587DWK0
1063
11/29/2019
11/28/2014
2.200
NR
NR
248,000.00
248,000.00
100
251,884.18
0.14
First Source Bank 1.75
12/30/2019
33646CFE9
1094
12/30/2019
6/30/2015
1.750
NR
NR
248,000.00
248,000.00
100
250,150.41
0.14
GE Capital Bank 1.8
36162PFS6
1111
1/16/2020
1/16/2015
1.800
NR
NR
248,000.00
248,000.00
100
252,531.46
0.14
1/16/2020
Peoples United Bank
1.85 1/21/2020
71270QLM6
1116
1/21/2020
1/21/2015
1.850
NR
NR
248,000.00
248,000.00
100
252,520.30
0.14
Bank of Georgetown DC
06424XBT8
1125
1/30/2020
1/30/2015
1.650
NR
NR
248,000.00
248,000.00
100
252,523.02
0.14
1.65 1/30/2020
PrivateBank IL 1.8
1/30/2020
74267GUW5
1125
1/30/2020
1/30/2015
1.800
NR
NR
248,000.00
248,000.00
100
252,435.23
0.14
Machias Savings Bank
1.65 2/6/2020
554479DS1
1132
2/6/2020
2/6/2015
1.650
NR
NR
248,000.00
248,000.00
100
252,518.56
0.14
Signature BK of
Arkansas 1.15
82669LGH0
1144
2/18/2020
8/18/2016
1.150
NR
NR
248,000.00
248,000.00
100
244,753.68
0.14
2/18/2020
Beneficial Bank 1.3
3/9/2020
08173QBN5
1164
3/9/2020
3/9/2016
1.300
NR
NR
248,000.00
248,000.00
100
249,908.61
0.14
Goldman Sachs Bank
381483MV0
1166
3/11/2020
3/11/2015
1.950
NR
NR
248,000.00
248,000.00
100
250,563.58
0.14
1.95 3/11/2020
/ Cap Bank UT
2.15 6/2
2.15 629/2020
20033ALD6
1276
6/29/2020
6/29/2015
2.150
NR
NR
248,000.00
248,000.00
100
251,390.66
0.14
Bank of Deerfield 1.15
061785DP3
1304
7/27/2020
8/26/2016
1.150
NR
NR
248,000.00
248,000.00
100
243,145.40
0.14
7/27/2020
Capital One 2.3
8/12/2020
14042E5M8
1320
8/12/2020
8/12/2015
2.300
NR
NR
248,000.00
248,000.00
100
252,944.38
0.14
BMW Bank UT 2.25
8/21/2020
05580ACS1
1329
8/21/2020
8/21/2015
2.250
NR
NR
248,000.00
248,000.00
100
252,924.54
0.14
Alma Bank 1.7
12/9/2020
020080BE6
1439
12/9/2020
12/9/2016
1.700
NR
NR
248,000.00
248,000.00
100
246,920.95
0.14
Morton Community
Bank 1.7 12/16/2020
619165GW7
1446
12/16/2020
12/16/2016
1.700
NR
NR
248,000.00
248,000.00
100
246,867.63
0.14
Apex Bank 1.25
03753XAE0
1509
2/17/2021
8/17/2016
1.250
NR
NR
248,000.00
248,000.00
100
241,952.02
0.14
2/17/2021
National Cooperative
Bank 1.5 3/9/2021
635573AH1
1529
3/9/2021
3/9/2016
1.500
NR
NR
248,000.00
248,000.00
100
248,705.31
0.14
Bank of the Pacific 1.25
06425BCK3
1605
5/24/2021
8/24/2016
1.250
NR
NR
248,000.00
248,000.00
100
240,862.56
0.14
5/24/2021
Commercial Bank Alma
Mi 1.4 8/16/2021
201282H D5
1689
8/16/2021
8/16/2016
1.400
NR
NR
248,000.00
248,000.00
100
241,499.92
0.14
48126XAH8
1689
8/16/2021
8/16/2016
1.650
NR
NR
248,000.00
248,000.00
100
242,200.77
0.14
Page 11 of 15
Days To
Maturity
Settlement
YTM @
Credit
Credit
Face
Cost Value + Accrued
% of
Description
CUSIP/Ticker
Maturity
Date
Date
Cost
Rating 1
Rating 2
Amount/Shares
Interest
Cost Price
Market Value
Portfolio
JPMorgan Chase Bank
NA 1.65 8/16/2021
Enerbank USA 1.45
29266N3H8
1699
8/26/2021
8/26/2016
1.450
NR
NR
248,000.00
248,000.00
100
241,934.66
0.14
8/26/2021
Sub Total / Average
889
1.485
14,883,000.00
14,883,000.00
100
14,925,073.87
8.13
Corporate Bonds 15%
Toyota Motor 2.05
89233P5S1
12
1/12/2017
8/21/2014
0.885
Moodys-
S&P -AA-
2,000,000.00
2,059,441.67
102.75
2,000,370.00
1.12
1/12/2017
Aa3
Berkshire Hathaway 1.9
084670BD9
31
1/31/2017
6/5/2014
0.815
Moodys-
S&P -AA
4,000,000.00
4,139,988.89
102.84
4,002,080.00
2.25
1/31/2017
Aa2
UBS AG London Bond
H7210WAA0
89
3/30/2017
7/13/2015
0.887
Moody,
NR
1,000,000.00
1,029,557.50
102.312
1,001,382.00
0.56
2.25 3/30/2017
Aaa
Royal Bank 1.25
7801OUD20
167
6/16/2017
6/16/2014
1.178
Moodys-
S&P -AA-
1,000,000.00
1,002,100.00
100.21
1,000,278.00
0.55
6/16/2017
Aa3
BB&T 1.45 1/12/2018-
05531FAM5
377
1/12/2018
2/18/2015
1.451
Moodys-A2
S&P -A-
1,000,000.00
1,001,430.00
99.998
998,351.00
0.55
17
Deere John 1.3
24422ESB6
436
3/12/2018
2/9/2015
1.166
Moodys-A2
S&P -A
2,125,000.00
2,144,865.21
100.404
2,119,285.88
1.17
3/12/2018
Wal-Mart Stores Inc
931142DF7
466
4/11/2018
11/28/2014
1.346
Moodys-
S&P -AA
1,000,000.00
994,208.75
99.274
997,672.00
0.54
1.125 4/11/2018
Aa2
Royal Bank 1.2
78011DAC8
627
9/19/2018
6/8/2015
1.144
Moody,
NR
1,000,000.00
1,004,433.33
100.18
998,658.00
0.55
Aaa
Johnson &Johnson
478160BG8
704
12/5/2018
8/17/2015
1.271
Moodys-
S&P _AAA
2,000,000.00
2,031,000.00
101.22
2,011,008.00
1.11
Note 1.65 12/5/2018
Aaa
Microsoft Corp 1.625
594918AV6
705
12/6/2018
5/27/2015
1.148
Moody,S&P-AAA
1,000,000.00
1,024,138.75
101.642
1,005,595.00
0.56
12/6/2018
Aaa
Toyota Motor 2.125
89236TBP9
929
7/18/2019
7/22/2014
2.057
Moodys-
S&P -AA-
1,000,000.00
1,003,436.11
100.32
1,004,339.00
0.55
7/18/2019
Aa3
American Honda
Financial 2.15
02665WAU5
1168
3/13/2020
12/8/2015
2.155
Moodys-Al
S&P -A+
1,000,000.00
1,004,876.39
99.98
997,234.00
0.55
3/13/2020
Bank of Nova Scotia
064159GWO
1390
10/21/2020
10/21/2015
2.296
Moodys-
S&P -A+
1,500,000.00
1,503,750.00
100.25
1,494,622.50
0.82
2.35 10/21/2020
Aa3
Microsoft 2 11/3/2020-
594918BG8
1403
11/3/2020
11/6/2015
1.929
Moodys-
S&P -AAA
1,000,000.00
1,003,546.67
100.338
1,001,036.00
0.55
20
Aaa
Apple Inc 2037833BS8
1515
2/23/2021
12/2/2016
2.126
Moody,
S&P -AA+
2,000,000.00
2,022,375.00
100.5
1,998,336.00
1.10
2/23/2021-21
Aal
Sub Total / Average
594
1.368
22,625,000.00
22,969,148.27
101.153228
22,630,247.38
12.50
Municipal Securities 15% / 5%
California ST 1.2513063CPN4
305
11/1/2017
12/9/2014
1.150
Moodys-
S&P _AA_
2,000,000.00
2,006,632.22
100.283
2,002,980.00
1.10
11/1/2017
Aa3
Fresno County Pension
358266CQ5
957
8/15/2019
9/8/2015
2.288
NR
S&P -AA-
1,000,000.00
1,007,845.56
100.75
1,012,530.00
0.55
2.488 8/15/2019
Page 12 of
15
Days To Maturity Settlement YTM @ Credit Credit Face Cost Value + Accrued % of
Description CUSIP/Ticker Maturity Date Date Cost Rating 1 Rating 2 Amount/Shares Interest Cost Price Market Value Portfolio
California ST 1.8 13063CSQ4 1187 4/1/2020 4/29/2015 1.700 Moodys- S&P -AA- 2,000,000.00 2,009,380.00 100.469 1,980,440.00 1.10
4/1/2020 Aa3
Sub Total / Average 789 1.599 5,000,000.00 5,023,857.78 100.451092 4,995,950.00 2.74
US Agency Bonds / Notes 75%
FHLB 0.75 3/30/2017
3130A3ML5
89
3/30/2017
12/30/2014
0.750
S&P -AA+
2,000,000.00
2,000,000.00
100
2,000,946.00
Aaadys
FFCB 0.6 4/21/2017
3133EEZR4
111
4/21/2017
4/29/2015
0.605
S&P -AA+
2,000,000.00
2,000,066.67
99.99
2,000,170.00
Aaadys
FFCB 1.11 2/20/2018
3133EEQM5
416
2/20/2018
2/20/2015
1.110
S&P -AA+
2,000,000.00
2,000,000.00
100
2,001,096.00
Aaadys
FNMA 1.05 2/27/2018
3136G1DG1
423
2/27/2018
7/1/2014
1.232
S&P -AA+
2,000,000.00
1,994,233.33
99.35
1,994,002.00
Aaadys
FFCB 1 5/21/2018
3133EEM98
506
5/21/2018
5/21/2015
1.010
S&P -AA+
1,000,000.00
999,700.00
99.97
998,571.00
Aaadys
FHLMC 1 5/23/2018-16
3134G74Z1
508
5/23/2018
11/23/2015
1.172
S&P -AA+
1,000,000.00
995,780.00
99.578
995,199.00
Aaadys
FHLB 1.125 9/14/2018
3130A6AE7
622
9/14/2018
9/18/2015
1.179
S&P -AA+
2,000,000.00
1,999,362.50
99.84
1,998,830.00
Aaadys
FHLMC 1.2 5/16/2019-
3134G9DK0
866
5/16/2019
5/16/2016
1.200
Moodys-
S&P -AA+
1,000,000.00
1,000,000.00
100
991,521.00
17
Aaa
FNMA 1.1 8/23/2019-
3136G32A2
965
8/23/2019
8/30/2016
1.100
Moodys-
S&P -AA+
5,000,000.00
5,000,000.00
100
4,927,225.00
17
Aaa
FFCB 1.38 3/2/2020-17
3133EFH59
1157
3/2/2020
3/2/2016
1.380
S&P -AA+
2,000,000.00
2,000,000.00
100
1,976,938.00
Aaadys
FNMA 1.75 5/26/2020-
3136G2KT3
1242
5/26/2020
5/26/2015
1.750
Moodys-
S&P -AA+
2,000,000.00
2,000,000.00
100
1,995,774.00
17
Aaa
FFCB 1.77 12/7/2020-
3133EGR49
1437
12/7/2020
12/7/2016
1.770
Moodys-
S&P -AA+
2,000,000.00
2,000,000.00
100
1,982,498.00
17
Aaa
FHLB 1.375 2/18/2021
3130A7CV5
1510
2/18/2021
4/4/2016
1.328
S&P -AA+
1,000,000.00
1,003,956.94
100.22
981,061.00
Aaadys
FNMA Step 3/15/2021-
3136G3AY1
1535
3/15/2021
3/15/2016
2.004
Moodys-
S&P -AA+
2,000,000.00
2,000,000.00
100
1,996,156.00
17
Aaa
FHLB Step 3/15/2021-
3130A7EG6
1535
3/15/2021
3/15/2016
2.216
Moodys-
S&P -AA+
1,500,000.00
1,500,000.00
100
1,494,420.00
16
Aaa
FHLMC Step
3134G8NQ8
1543
3/23/2021
4/4/2016
2.169
Moodys-
S&P -AA+
1,050,000.00
1,050,401.04
100
1,035,702.15
3/23/2021-16
Aaa
FHLMC Step
3134G8NV7
1550
3/30/2021
3/30/2016
2.118
Moodys-
S&P -AA+
1,500,000.00
1,500,000.00
100
1,480,798.50
3/30/2021-16
Aaa
FNMA 1.4 5/25/2021-
3136G3U94
1606
5/25/2021
8/25/2016
1.400
Moodys-
S&P -AA+
1,850,000.00
1,850,000.00
100
1,780,304.95
17
Aaa
FHLB 2 9/9/2021-17
3130AA716
1713
9/9/2021
12/9/2016
2.000
S&P -AA+
2,000,000.00
2,000,000.00
100
1,997,916.00
Aaadys
FHLB 1.5 12/28/2021-
3130AABK3
1823
12/28/2021
12/28/2016
1.500
Moodys-
S&P -AA+
2,000,000.00
2,000,000.00
100
1,995,460.00
17
Aaa
Page 13 of 15
1.09
1.09
1.09
1.09
0.55
0.54
1.09
0.55
2.73
1.09
1.09
1.09
0.55
1.09
0.82
0.57
0.82
1.01
1.09
1.09
Page 14 of 15
Days To
Maturity
Settlement
YTM @ Credit
Credit
Face
Cost Value + Accrued
% of
Description
CUSIP/Ticker
Maturity
Date
Date
Cost Rating 1
Rating 2
Amount/Shares
Interest
Cost Price
Market Value
Portfolio
FHLMC 2.05
3134GAZR8
1825
12/30/2021
12/30/2016
2.050 Moodys-
5&P -AA+
2,000,000.00
2,000,000.00
100
1,990,164.00
1.09
12/30/2021-17
Aaa
Sub Total / Average
1086
1.446
38,900,000.00
38,893,500.48
99.952142
38,614,752.60
21.24
US Treasury Securites 0%
T -Note 0.625
912828674
46
2/15/2017
11/6/2014
0.643 Moodys-
5&P -AA+
5,000,000.00
5,005,048.23
99.96
5,001,190.00
2.73
2/15/2017
Aaa
T -Note 0.625
912828674
46
2/15/2017
2/12/2015
0.650 Moodys-
5&P -AA+
2,000,000.00
2,005,148.10
99.95
2,000,476.00
1.09
2/15/2017
Aaa
T -Note 0.5 4/30/2017
912828K66
120
4/30/2017
5/14/2015
0.550
5&P -AA+
2,000,000.00
1,998,431.21
99.902539
1,999,868.00
1.09
Aaadys
T -Note 0.5 7/31/2017
912828TG5
212
7/31/2017
7/31/2012
0.584
5&P -AA+
5,000,000.00
4,979,333.35
99.586667
4,994,920.00
2.72
Aaadys
T -Note 1 9/15/2017
912828D98
258
9/15/2017
9/16/2014
1.056
5&P -AA+
2,000,000.00
1,996,774.00
99.835938
2,003,124.00
1.09
Aaadys
T -Note 0.75
912828TWO
304
10/31/2017
7/14/2014
1.050 Moodys-
5&P -AA+
3,000,000.00
2,975,523.10
99.03125
2,997,306.00
1.62
10/31/2017
Aaa
T -Note 0.75
912828UE8
365
12/31/2017
12/7/2015
1.025 Moodys-
5&P -AA+
1,000,000.00
997,650.87
99.439
998,359.00
0.54
12/31/2017
Aaa
T -Note 0.875
912828UJ7
396
1/31/2018
11/25/2014
1.035 Moodys-
5&P -AA+
2,000,000.00
1,995,563.86
99.5
1,998,516.00
1.09
1/31/2018
Aaa
T -Note 1 5/31/2018
912828VE7
516
5/31/2018
4/29/2015
0.915
5&P -AA+
2,500,000.00
2,516,747.50
100.257812
2,499,022.50
1.37
Aaadys
T -Note 0.875
912828XK1
561
7/15/2018
8/28/2015
0.963 Moodys-
5&P -AA+
5,000,000.00
4,992,730.98
99.75
4,983,985.00
2.72
7/15/2018
Aaa
T -Note 0.875
912828L81
653
10/15/2018
11/4/2015
1.075 Moody,5&P-AA+
1,000,000.00
994,696.89
99.421875
995,156.00
0.54
10/15/2018
Aaa
T -Note 1.25
912828N22
714
12/15/2018
12/22/2015
1.261 Moodys-
5&P -AA+
1,000,000.00
999,926.57
99.96875
1,001,094.00
0.55
12/15/2018
Aaa
Sub Total / Average
307
0.836
31,500,000.00
31,457,574.66
99.728851
31,473,016.50
17.16
Total / Average
4S2
0.994
182,909,722.66
183,228,803.85
100.099822 182,640,763.01
100
Page 14 of 15
City of Tustin
Monthly Investment Transactions
Portfolio/ Report Group: All Portfolios
From 9/30/2016 To 12/31/2016
YTM @ Trade Settlement Maturity Face
Description CUSIP/Ticker Portfolio Name Cost Date Date Date Amount/Shares Principal Price Interest/Dividends Total
BUY
Alma Bank 1.7 12/9/2020
020080BE6
City of Tustin
- Fixed
1.700
11/29/2016
12/9/2016
12/9/2020
248,000.00
248,000.00
100
0.00
248,000.00
Income
Apple Inc 2.25 2/23/2021-21
037833BS8
City of Tustin
- Fixed
2.126
11/30/2016
12/2/2016
2/23/2021
2,000,000.00
2,010,000.00
100.5
12,375.00
2,022,375.00
Income
FFCB 1.77 12/7/2020-17
3133EGR49
City of Tustin
- Fixed
1.770
11/29/2016
12/7/2016
12/7/2020
2,000,000.00
2,000,000.00
100
0.00
2,000,000.00
Income
FHLB 1.5 12/28/2021-17
3130AABK3
City of Tustin
- Fixed
1.500
11/29/2016
12/28/2016
12/28/2021
2,000,000.00
2,000,000.00
100
0.00
2,000,000.00
Income
FHLB 2 9/9/2021-17
3130AA716
City of Tustin
- Fixed
2.000
11/26/2016
12/9/2016
9/9/2021
2,000,000.00
2,000,000.00
100
0.00
2,000,000.00
Income
FHLMC 2.05 12/30/2021-17
3134GAZR8
City of Tustin
- Fixed
2.050
11/29/2016
12/30/2016
12/30/2021
2,000,000.00
2,000,000.00
100
0.00
2,000,000.00
Income
Morton Community Bank 1.7
619165GW7
City of Tustin
- Fixed
1.700
11/29/2016
12/16/2016
12/16/2020
248,000.00
248,000.00
100
0.00
248,000.00
12/16/2020
Income
Sub Total/ Average
10,496,000.00
10,506,000.00
12,375.00
10,518,375.00
CALLED
FFCB 1.37 3/1/2019-16
3133EFBQ9
City of Tustin
- Fixed
0.000
10/28/2016
10/28/2016
3/1/2019
2,000,000.00
2,000,000.00
0
4,338.33
2,004,338.33
Income
FHLB Step 11/30/2020-16
3130A6RE9
City of Tustin
- Fixed
0.000
11/30/2016
11/30/2016
11/30/2020
1,000,000.00
1,000,000.00
0
0.00
1,000,000.00
Income
Security Federal Bank 1.25
81423LBW1
City of Tustin
- Fixed
0.000
10/14/2016
10/14/2016
7/16/2018
249,000.00
249,000.00
0
0.00
249,000.00
7/16/2018-16
Income
Sub Total / Average
3,249,000.00
3,249,000.00
4,338.33
3,253,338.33
MATURED
FHLB 0.4 10/28/2016-16
3130A6MW4
City of Tustin
- Fixed
0.000
10/28/2016
10/28/2016
10/28/2016
1,000,000.00
1,000,000.00
0
0.00
1,000,000.00
Income
FHLB 0.55 12/16/2016
3130A5UB3
City of Tustin
- Fixed
0.000
12/16/2016
12/16/2016
12/16/2016
2,000,000.00
2,000,000.00
0
0.00
2,000,000.00
Income
FHLMC 0.7 12/30/2016
3134G5AQ8
City of Tustin
- Fixed
0.000
12/30/2016
12/30/2016
12/30/2016
2,000,000.00
2,000,000.00
0
0.00
2,000,000.00
Income
FHLMC 0.78 12/29/2016
3134G5VG7
City of Tustin
- Fixed
0.000
12/29/2016
12/29/2016
12/29/2016
2,000,000.00
2,000,000.00
0
0.00
2,000,000.00
Income
T -Note 0.625 11/15/2016
912828WF3
City of Tustin
- Fixed
0.000
11/15/2016
11/15/2016
11/15/2016
3,000,000.00
3,000,000.00
0
0.00
3,000,000.00
Income
Sub Total/ Average
10,000,000.00
10,000,000.00
0.00
10,000,000.00
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