2020-10-14 Item 08D Treasurer's Annual Report and Investment Policy UpdateMEETING DATE
PREPARED BY
DEPARTMENT:
SUBJECT:
October 14, 2020
Teresa S. McBroome
Director of Finance /City
Treasurer
Finance
AGENDA REPORT
City Council
DEPT. DIRECTOR: Teresa S. McBroome
CITY MANAGER: Pamela) IW. Antil
Treasurer's Annual Report for the Fiscal Year Ended June 30, 2020 and Investment Policy.
RECOMMENDATION:
That City Council take the following actions:
1. Receive and file the Treasurer's Report for the Fiscal Year Ended June 30, 2020; and
2. Adopt Investment Policy (F019).
STRATEGIC PLAN:
This agenda item falls within the Organizational Efficiency and Effectiveness focus area of the
Strategic Plan by maintaining the City's financial health.
FISCAL CONSIDERATIONS:
There is no direct fiscal impact associated with this earnings report. Investment earnings in the
pooled investment fund for FY 2019 -20 were $2,435,507, of which $951,462 was allocated to
the General Fund. Investment earnings exceeded the budgeted amount of $898,895 by
$1,536,612, or by $750,462, in the General Fund.
BACKGROUND:
The City's adopted Investment Policy (Section XVI) requires the City Treasurer to report
investment positions and results of the Pooled Investment Fund and the Investment of Bond
Proceeds to the City Council annually at a public meeting. Section XVII requires that the
Investment Policy be reviewed and adopted at least annually, regardless of whether there are
any proposed changes to the Policy. Staff is recommending changes to the policy this year.
The following information is included in this agenda report and the related attachments:
Detailed reports on the Pooled Investment Fund of the City for FY 2019 -20 (Attachment
1)
Summary report for the investment of bond proceeds (Attachment 2)
Investment Policy Redlined (Attachment 3)
Investment Policy (Attachment 4)
2020 -10 -14 Item #080 Page 1 of 82
ANALYSIS:
Pooled Investment Fund Re
The Annual Investment Report for the Pooled Investment Fund (Attachment 1) is produced via
the City's SymPro investment - tracking software and includes the following separate reports,
which together are intended to address all significant aspects of the City's Investment Program.
Portfolio Summary Portfolio Management Investments by Issuer Activity Report
Interest Earnings Summary Interest Earnings Purchases Report Accrued Interest
Unrealized Gain /Loss Realized Gain /Loss Cash and Investments by Fund
As of June 30, 2020, the book value (purchase price of securities as recorded on the City's
books) of the Pooled Investment Fund was $132.4 million and the average weighted yield to
maturity was 1.89 percent. Fiscal year -to -date investment revenue generated by the Pooled
Investment Fund as of June 30, 2020, was $2,435,507 for an effective rate of return of 1.97
percent. FY 2019 -20 investment pool revenue increased slightly over FY 2018 -19 revenue of
$2,420,601. The current market value of the City's portfolio is $135,515,240, which results in an
unrealized gain of $3,109,800 or 2.35 percent, when compared to the book value or purchase
value of the City's portfolio of $132,405,440. The following table compares the Pooled
Investment Fund statistics for the last four quarters.
FY 2019 -20
June 30, 2020
March 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Book Value
$ 132,405,440
$ 125,311,447
$ 124,104,518
$
113,999,331
Market Value
$ 135,515,240
$ 127,886,829
$ 125,042,266
$
114,973,050
Unrealized Gain /(Loss)
$ 3,109,800
$ 2,575,382
$ 937,748
$
973,719
Unrealized Gain /Loss as % of Book Value
2.3487%
2.0552%
0.7556%
0.8541%
Effective Rate of Return
1.97%
2.00%
2.05%
2.05%
Average Yield To Maturity
1.89%
1.82%
1.97%
1.97%
Average Maturity (Years)
1.23
1.52
1.66
1.90
Investment Earnings Year to Date
$ 2,435,507
$ 1,815,649
$ 1,206,765
$
624,656
As stated in Section IV of the City's investment policy, the investment objectives for the City's
portfolio in priority order are: 1. safety of principal; 2. liquidity of funds; and 3. return on
investments. In order to achieve those objectives, the investment policy also defines (a)
maximum allocations of the portfolio by security type, (b) liquidity sufficiency and (c) return on
investment benchmarks. The charts below provide graphical information about portfolio
investment allocation, liquidity and performance compared to various benchmarks.
Portfolio Allocation
FederalAgency
Coupon
Securities
28%
U.S. Treas
Coupor
Securitie
27%
Cash
3%
as of June 30, 2020
Local Agency
Investment
Fund
Io
Managed Pool
Accounts
4%
Money Market
ficate of Funds
its - Bank 2%
9%
2020 -10 -14 Item #080 Page 2 of 82
Credit Quality of Portfolio as of June 30, 2020
Federal Agency
Coupon Securities,
AA +,28%
U.S Treasury C
Securities, CAN
SDCC Investment rooi,
AAA, 31 %
■ Not rated ■ AAA r AA+
LAIF, Money Market
Funds. Certificates of
Deposit and Cash, Not
Rated. 41 %
The U.S. Treasury Coupon Securities are issued by the U.S. Government and carry the full faith
and credit of the U.S. Government and are considered to be the safest investments. The
Federal Agency Coupon Securities are issued by the Federal National Mortgage Association,
Federal Home Loan Bank, Federal Farm Credit and Federal Home Loan Mortgage. This
diversity of issuers provides additional security. Although the Federal Agency securities were
downgraded by Standard & Poors to AA+ in August 2011, they continue to be regarded as
among the safest securities in the global market. The remaining funds are in the California Local
Investment Fund (LAIF), California Asset Management Program (CAMP), the San Diego County
Investment Pool, and Union Bank Certificates of Deposit, Money Market Funds, and a Checking
Account. LAIF is a program created by State statute that began in 1977 as an investment
alternative for California's local governments and special districts. All securities in LAIF are
purchased under the authority of Government Code Sections 16430 and 16480.4. All funds
invested in LAIF are essentially available overnight and provides the City with liquidity for City
operations. LAIF has not been assigned a rating by Moody's or Standard and Poor's.
Portfolio Allocation Compared to Investment Policy
Maximum Allocations
Federal Agency Coupon Securities
U.S. Treasury Coupon Securities
Certificate of Deposits - Bank
Money Market Funds
Managed Pool Accounts
Local Agency Investment Fund
0% 20% 20% 30% 40°% 50% 60% 70°%
■ Policy Maximum ■ As of June 30, 2020
The City's investment portfolio complied with the City's investment policy because it adhered to
the required allocations by investment type.
2020 -10 -14 Item #080 Page 3 of 82
Portfolio Liquidity as of June 30, 2020
40%
35%
30%
25%
20%
15%
10%
5%
O%
Overnight O -6 Months 7 -12 Months 13-24 Months 25-36 Months 37 -48 Months 49-60 Months
Liquidity is important to the City and it is critical that funds are available when needed in order to
meet the City's day -to day operations, large CIP program and debt service program. The
portfolio is currently very liquid with 35.7% percent available overnight and an additional 10.3
percent of securities available within 180 days. Best management practices recommend that
agencies have six months of cash needs of their portfolio liquid (having immediate access to).
The weighted average maturity of the entire portfolio is 1.2 years. The City utilizes a laddered
maturity investment strategy in that as securities mature, a portion of new investments are
typically directed to the 49 -60 -month segment to take advantage of higher rates further out on
the yield curve. However, due to the drastic reduction in interest rates related to the recession
caused by the novel coronavirus, securities in the 49 -60 -month segment were earning lower
rates than short -term securities. Therefore, in the last two months of the fiscal year, funds were
kept in LAIF which was earning higher interest rates.
3.501
3.00%
2.50
2.001
1.50%
1.00
0.501
0.001
City Portfolio Yield Compared to Treasury Indexes
v 00
r
si dO'
v v �n u, �r, u, cn cn cn � �• r �n �• vo vo 00 0� a� a� � rn o 0
r-1 r-I ri r-1 r-I r-I r-I ri r-I r-I r-I ri r-I r-I ri ri r-I r-I r-I ri r-I r-I N N
X11 d1 7 Ql d1 7 % . 7 % - 7 -n - 7 % . 7
cn C] � � vi O � � i,n O � � cn C] �
City Portfolio — — — 2 Yr Treasury 1 Yr Treasury — — — 6 Mth Treasury
In the chart above, the performance of the portfolio is compared to the six - month, one -year and
two -year treasury constant maturity rate as of the end of each quarter. The stated performance
benchmark for the portfolio is the one -year treasury. Actual performance of the portfolio for the
year ended June 30, 2020 is higher than the benchmark by 182 basis points.
2020 -10 -14 Item #080 Page 4 of 82
Investment of Bond Proceeds
The Annual Investment Report for the Investment of Bond Proceeds (Attachment 2) is subject
to minor changes in activity from year -to -year. Total bond proceeds held in trust accounts on
June 30, 2020 were $642,751. Earnings on the bond trust accounts were $11,606 for the year.
Bond proceeds held by trustee banks and investments are based upon the bond indenture
agreement for each bond issue. Rates on available investment vehicles, which are extremely
limited by the bond indentures, are yielding an effective interest rate of less than 0.22 percent.
Bond proceeds are invested by the Trustees of the 2007 Water Revenue Bonds. As the City has
paid off bond issues or refunded bonds in the past few years, the requirement for bond reserves
for these bond issues has been eliminated, reducing the amount of bond proceeds held in trust.
The majority of funds held on June 30, 2020 were for the 2007 Water Revenue Bonds reserve
funds ($642,589).
Investment Policy Update
Section XVII of the investment policy requires at least an annual review of the investment policy
regardless of whether there are any proposed changes to the policy. The last revisions to the
investment policy were made in 2019.
Staff performed a review and is recommending adoption of the investment policy with the
proposed changes as summarized below, and as shown redlined in Attachment 3, and with the
redlined changes incorporated into the investment policy in Attachment 4.
Summary of Changes to Investment Policy
Investment Policy Section
Description of Change
Comments
Section VIII — 5 Certificates of
In the description of CD's,
This is a typographical error and is
Deposit (CD's)
change the maturity limit from
consistent with the City's investment
one year to five years.
practices and with the California
Government Code Section 53601.
Section VIII -16 Supranationals
Increase the maximum
This change is consistent with
portfolio limits for
changes made to the California
Supranational Securities per
Government Code Section 53601(q).
issuer from 10% to 15%
A Supranational is a multi - national
organization whereby member states
transcend national boundaries or
interests to share in the decision
making to promote economic
development in the member
countries.
Section VIII - Summary Table of
Change the limits for
This change corrects the Per Issuer
Investment Allocations
Supranationals
limit to be consistent with the State
Code and the City's updated
Investment Policy.
ENVIRONMENTAL CONSIDERATIONS:
The action being considered by the City Council is exempt from the California Environmental
Quality Act (CEQA) because it is not a "project" under Section 15378(b)(5) of CEQA Guidelines.
The action involves an organizational or administrative activity of government that will not result
in the direct or indirect physical change in the environment.
This item is not related to the Climate Action Plan.
ATTACHMENTS:
1. Annual Investment Report for the Pooled Investment Fund, June 30, 2020
2. Annual Investment Report for the Investment of Bond Proceeds, June 30, 2020
3. City of Encinitas Investment Policy (F019), amended October 14, 2020 Redlined
4. City of Encinitas Investment Policy (F019)
2020 -10 -14 Item #080 Page 5 of 82
Attachment 1
City of Encinitas - YTD Report
Portfolio Management
Portfolio Summary
June 30, 2020
CITY OF ENCINITAS
505 S. VULCAN AVE.
ENCINITAS, CA 92024
(760)633 -2641
132,686,168.40 135,515,240.43 132,405,440.43 100.00% 1.885 950 449
Investments
Cash
Passbook /Checking 3,753,480.12 3,753,480.12 3,753,480.12 0.000 1 1
(not included in yield calculations)
Total Cash and Investments 136,439,648.52 139,268,720.55 136,158,920.55 1.885 950 449
Total Earnings June 30 Month Ending Fiscal Year To Date Fiscal Year Ending
Current Year 214,671.91 2,435,507.22 2,435,507.22
Average Daily Balance 133,871,481.69 123,282,942.41
Effective Rate of Return 1.95% 1.97%
1 certify the accuracy of the attached report on the City of Encinitas' Pooled Investment Fund. All funds for which the City has oversight responsibility are reflected in this report. All investments are in
compliance with the City's adopted Investment Policy., which is available through the City Clerk's office. The City's Investment Program provides sufficient liquidity to meet the next six (6) months
expenditure requirements. The source of the market values of investments owned is Union Bank of California Custody Services.
Teresa McBroome, Finance Director \Treasurer
Reporting period 06/01/2020 - 06/30/2020 Portfolio FY20
Data Updated: SET_ANNU: 09/13/2020 14:36 p AC
Run Date: 09/13/2022 PM (PRF
020 -10 -1 w Item #08D Page &e9fV82.6.11
Par
Market
Book
% of
YTM
Days to
Investments
Value
Value
Value
Portfolio
Term
Maturity
Local Agency Investment Funds
36,391,523.06
36,570,307.15
36,391,523.06
27.48
1.217
1
1
Managed Pool Accounts
5,226,870.22
5,281,068.45
5,226,870.22
3.95
4.163
1
1
Money Market Funds
3,194,775.12
3,194,775.12
3,194,775.12
2.41
0.070
1
1
Certificates of Deposit- Bank
11,375,000.00
11,939,186.87
11,375,000.00
8.59
2.058
1,739
1,193
Negotiable CDs
498,000.00
522,192.84
498,000.00
0.38
1.727
1,643
1,397
U.S. Treasury Coupon Securities
37,000,000.00
37,637,330.00
36,696,627.95
27.72
2.083
1,359
447
Federal Agency Coupon Securities
39,000,000.00
40,370,380.00
39,022,644.08
29.47
2.116
1,417
737
132,686,168.40 135,515,240.43 132,405,440.43 100.00% 1.885 950 449
Investments
Cash
Passbook /Checking 3,753,480.12 3,753,480.12 3,753,480.12 0.000 1 1
(not included in yield calculations)
Total Cash and Investments 136,439,648.52 139,268,720.55 136,158,920.55 1.885 950 449
Total Earnings June 30 Month Ending Fiscal Year To Date Fiscal Year Ending
Current Year 214,671.91 2,435,507.22 2,435,507.22
Average Daily Balance 133,871,481.69 123,282,942.41
Effective Rate of Return 1.95% 1.97%
1 certify the accuracy of the attached report on the City of Encinitas' Pooled Investment Fund. All funds for which the City has oversight responsibility are reflected in this report. All investments are in
compliance with the City's adopted Investment Policy., which is available through the City Clerk's office. The City's Investment Program provides sufficient liquidity to meet the next six (6) months
expenditure requirements. The source of the market values of investments owned is Union Bank of California Custody Services.
Teresa McBroome, Finance Director \Treasurer
Reporting period 06/01/2020 - 06/30/2020 Portfolio FY20
Data Updated: SET_ANNU: 09/13/2020 14:36 p AC
Run Date: 09/13/2022 PM (PRF
020 -10 -1 w Item #08D Page &e9fV82.6.11
City of Encinitas - YTD Report
Portfolio Management
Portfolio Details - Investments
June 30, 2020
Page 1
Average Purchase Stated YTM Maturity
CUSIP Investment # Issuer Balance Date Par Value Market Value Book Value Rate S &P Moody's Date
Local Agency Investment Funds
SYS1012 1012 CA LAIF 36,391,523.06 36,570,307.15 36,391,523.06 1.217 1.217 NR
Subtotal and Average 36,391,523.06 36,391,523.06 36,570,307.15 36,391,523.06 1.217
Managed Pool Accounts
SYS1003 1003
SYS1584 1584
Money Market Funds
SYS1004 1004
Certificates
of Deposit - Bank
337630BD8
1531
975875AK1
1526
17670DAC8
1530
17801 GSB7
1551
38148PKX4
1528
06653ABM5
1533
949763JG2
1535
14042RGN5
1552
1404203Q1
1553
87270LAD5
1554
58404DBL4
1561
05580AMB7
1562
17312QH69
1563
29278TAU4
1568
45581EASO
1564
501798LT7
1566
61747MR37
1565
33646CJPO
1569
249398BT4
1596
02589AAM4
1580
795450S89
1570
20033AZK5
1571
020080BUO
1619
33640VDE5
1609
59013KAR7
1597
CA Asset Management Program
SD County Investment Pool
Subtotal and Average 5,215,815.73
Union Bank Custody Acct.
Subtotal and Average 3,184,658.22
1,068,671.50
4,158,198.72
5,226,870.22
3,194, 775.12
3,194,775.12
1, 068, 671.50
4,212,396.95
5,281,068.45
3,194,775.12
3,194,775.12
1,068,671.50 0.510
4,158,198.72 5.102
5,226,870.22
0.510 AAA
5.102 AAA
4.163
3,194,775.12 0.070 0.070 AAA
3,194,775.12 0.070
Firstrust Savings Bank
06/23/2017
245,000.00
249,179.70
245,000.00
1.900
1.900
06/23/2021
Winter Hill Bank FSB
06/26/2017
245,000.00
248,991.05
245,000.00
1.800
1.800
06/28/2021
Citizens State Bankl
06/30/2017
245,000.00
251,284.25
245,000.00
1.900
1.900
12/30/2021
City National Bank Metropolis
07/03/2017
245,000.00
252,036.40
245,000.00
2.000
2.000
NR NR 02/03/2022
Goldman Sachs Bank USA
06/21/2017
245,000.00
255,358.60
245,000.00
2.350
2.350
P -1 06/21/2022
BankVista
06/30/2017
245,000.00
253,731.80
245,000.00
2.000
2.000
06/30/2022
Wells Fargo Bank
06/30/2017
245,000.00
254,954.35
245,000.00
2.250
2.250
06/30/2022
Capital One NA
07/19/2017
245,000.00
255,432.10
245,000.00
2.300
2.300
NR 07/19/2022
Capital One Bank USA, NA
07/19/2017
245,000.00
255,432.10
245,000.00
2.300
2.300
07/19/2022
TIAA FSB
07/19/2017
245,000.00
254,679.95
245,000.00
2.150
2.150
NR NR 07/19/2022
Medallion Bank UT
03/28/2018
249,000.00
266,711.37
249,000.00
2.900
2.900
03/28/2023
BMW Bank North America
03/29/2018
246,000.00
263,537.34
246,000.00
2.900
2.900
03/29/2023
Citi Bank NA
03/29/2018
246,000.00
263,200.32
246,000.00
2.850
2.850
03/29/2023
Enerbank USA
03/29/2018
246,000.00
263,200.32
246,000.00
2.850
2.850
03/29/2023
Industrial & Comm Bank China
03/29/2018
249,000.00
266,728.80
249,000.00
2.900
2.900
03/29/2023
LCA Bank Corp
03/29/2018
246,000.00
262,863.30
246,000.00
2.800
2.800
03/29/2023
Morgan Stanley Bank
03/29/2018
246,000.00
263,537.34
246,000.00
2.900
2.900
03/29/2023
First Source Bank
04/11/2018
246,000.00
263,379.90
246,000.00
2.850
2.850
04/11/2023
Denver Savings Bank
06/21/2019
249,000.00
263,202.96
249,000.00
2.250
2.250
06/21/2023
American Express National Bank
06/26/2018
245,000.00
266,724.15
245,000.00
3.300
3.300
NR NR 06/26/2023
Sallie Mae Bank /Murray
06/27/2018
245,000.00
266,741.30
245,000.00
3.300
3.300
NR NR 06/27/2023
Comenity Capital Bank
06/29/2018
245,000.00
266,731.50
245,000.00
3.300
3.300
NR NR 06/29/2023
ALMA BANK
03/30/2020
249,000.00
253,352.52
249,000.00
0.900
0.900
09/29/2023
FIRST SERVICE BANK
11/15/2019
249,000.00
260,055.60
249,000.00
1.700
1.700
11/15/2023
Merrick Bank
06/28/2019
249,000.00
266,355.30
249,000.00
2.400
2.400
12/28/2023
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date, 09/1312020 - 14,36
2020 -10 -14
Item #08D
Portfolio FY20
AC
Page 7 (of82730
Report Ver. 7.3.6.1
City of Encinitas - YTD Report
Portfolio Management
Portfolio Details - Investments
June 30, 2020
Page 2
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date: 09/1312020 - 14:36
2020 -10 -14
Item #08D
Portfolio FY20
AC
Page 8 `of82730
Average
Purchase
Stated
YTM
Maturity
CUSIP
Investment # Issuer Balance
Date
Par Value
Market Value
Book Value
Rate
S &P Moody's Date
Certificates of Deposit - Bank
06251AW48
1585
BANK HAPOALIM BM NY
03/25/2019
246,000.00
268,595.10
246,000.00
2.900
2.900
03/25/2024
34969RCS5
1616
FORTUNE BANK ARNOLD
03/27/2020
249,000.00
254,326.11
249,000.00
1.000
1.000
03/27/2024
654062JRO
1625
NICOLET NATIONAL BANK
03/31/2020
249,000.00
255,713.04
249,000.00
1.150
1.150
03/28/2024
219255AK2
1623
CORNHUSKER BANK
03/30/2020
249,000.00
255,252.39
249,000.00
1.100
1.100
03/29/2024
61760AG52
1593
MORGAN STANLEY PRIVATE BANK
06/13/2019
246,000.00
266,723.04
246,000.00
2.600
2.600
06/13/2024
27002YEQ5
1594
EAGLEBANK
06/20/2019
249,000.00
267,087.36
249,000.00
2.300
2.300
06/20/2024
200056QRZ8
1595
COMMERCE BANK GENEVA MN
06/26/2019
249,000.00
267,139.65
249,000.00
2.300
2.300
06/26/2024
336460CQ1
1598
First State Bank Dequeen
06/28/2019
249,000.00
267,159.57
249,000.00
2.300
2.300
06/28/2024
761400BY1
1599
REVERE BANK
06/28/2019
247,000.00
265,033.47
247,000.00
2.300
2.300
06/28/2024
52465JHT7
1618
LEGENDS BANK
03/30/2020
249,000.00
254,089.56
249,000.00
1.000
1.000
09/30/2024
710673AC8
1624
PEOPLES BANK /SARDIS TN
03/31/2020
249,000.00
254,089.56
249,000.00
1.000
1.000
09/30/2024
73319FAD1
1611
POPPY BANK
11/04/2019
249,000.00
260,917.14
249,000.00
1.650
1.650
11/04/2024
203522AT4
1610
COMMUNITY BANK
11/08/2019
249,000.00
260,919.63
249,000.00
1.650
1.650
11/08/2024
29367SJQ8
1607
ENTERPRISE BANK AND TRUST
11/08/2019
249,000.00
262,525.68
249,000.00
1.800
1.800
11/08/2024
695292FP2
1613
PADUCAH BANK AND TRUST
11/08/2019
249,000.00
260,919.63
249,000.00
1.650
1.650
11/08/2024
89579NCB7
1612
TRIAD BANK FRONTENAC MO
11/08/2019
249,000.00
262,525.68
249,000.00
1.800
1.800
11/08/2024
300185JF3
1615
EVERGREEN BANK GROUP
03/26/2020
249,000.00
253,389.87
249,000.00
1.000
1.000
03/26/2025
59565QCS2
1617
MIDCOUNTRY BANK
03/27/2020
249,000.00
253,384.89
249,000.00
1.000
1.000
03/27/2025
15201QCJ4
1620
CENTERSTATE BANK NA
03/30/2020
248,000.00
252,344.96
248,000.00
1.000
1.000
03/31/2025
538036KU7
1622
LIVE OAK BANKING COMPANY
03/31/2020
249,000.00
254,532.78
249,000.00
1.100
1.100
03/31/2025
694231AD3
1621
PACIFIC ENTERPRISE BANK
03/30/2020
249,000.00
255,115.44
249,000.00
1.150
1.150
03/31/2025
Subtotal and Average 12,012,000.00
11,375,000.00
11,939,186.87
11,375,000.00
2.058
Negotiable CDs
15118RSN8
1614
CELTIC BANK
10/30/2019
249,000.00
259,151.73
249,000.00
1.600
1.601
10/30/2023
33767GAMO
1608
First Bank Puerto Rico
10/28/2019
249,000.00
263,041.11
249,000.00
1.850
1.852
NR NR 10/25/2024
Subtotal and Average 498,000.00
498,000.00
522,192.84
498,000.00
1.727
U.S. Treasury Coupon
Securities
9128282J8
1583
U.S. Treasury Notes
06/27/2018
2,000,000.00
2,001,020.00
1,999,234.81
1.500
2.531
Aaa 07/15/2020
912828XM7
1514
U.S. Treasury Notes
04/19/2016
2,000,000.00
2,002,400.00
2,000,761.27
1.625
1.149
NR Aaa 07/31/2020
912828VP2
1576
U.S. Treasury Notes
06/26/2018
2,000,000.00
2,003,020.00
1,999,155.52
2.000
2.531
Aaa 07/31/2020
912828L32
1520
U.S. Treasury Notes
02/13/2017
2,000,000.00
2,003,960.00
1,999,338.66
1.375
1.580
Aaa 08/31/2020
912828L65
1521
U.S. Treasury Notes
02/13/2017
2,000,000.00
2,005,940.00
1,998,948.35
1.375
1.593
Aaa 09/30/2020
912828L99
1522
U.S. Treasury Notes
02/13/2017
2,000,000.00
2,007,860.00
1,998,432.71
1.375
1.618
Aaa 10/31/2020
912828A42
1538
U.S. Treasury Notes
06/28/2017
2,000,000.00
2,014,680.00
2,003,493.21
2.000
1.567
Aaa 11/30/2020
912828P87
1539
U.S. Treasury Notes
06/28/2017
2,000,000.00
2,012,260.00
1,993,796.61
1.125
1.609
Aaa 02/28/2021
912828Q37
1540
U.S. Treasury Notes
06/28/2017
2,000,000.00
2,016,100.00
1,994,714.60
1.250
1.616
Aaa 03/31/2021
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date: 09/1312020 - 14:36
2020 -10 -14
Item #08D
Portfolio FY20
AC
Page 8 `of82730
City of Encinitas - YTD Report
Portfolio Management
Portfolio Details - Investments
June 30, 2020
Page 3
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date: 09/1312020 - 14:36
2020 -10 -14
Item #08D
Portfolio FY20
AC
Page 9 `of82730
Average
Purchase
Stated
YTM
Maturity
CUSIP
Investment #
Issuer Balance
Date
Par Value
Market Value
Book Value
Rate
S &P Moody's Date
U.S. Treasury Coupon
Securities
912828S76
1523
U.S. Treasury Notes
02/13/2017
2,000,000.00
2,020,620.00
1,986,338.67
1.125
1.784
Aaa 07/31/2021
912828T34
1556
U.S. Treasury Notes
02/23/2018
2,000,000.00
2,023,760.00
1,966,677.76
1.125
2.530
Aaa 09/30/2021
912828F96
1574
U.S. Treasury Notes
06/26/2018
2,000,000.00
2,048,760.00
1,983,511.98
2.000
2.650
Aaa 10/31/2021
912828XQB
1578
U.S. Treasury Notes
06/26/2018
4,000,000.00
4,152,520.00
3,944,752.67
2.000
2.705
Aaa 07/31/2022
9128281-24
1572
U.S. Treasury Notes
06/26/2018
2,000,000.00
2,073,680.00
1,966,005.65
1.875
2.710
Aaa 08/31/2022
9128282W9
1579
U.S. Treasury Notes
06/26/2018
2,000,000.00
2,076,560.00
1,964,737.07
1.875
2.711
Aaa 09/30/2022
912828S92
1592
U.S. Treasury Notes
03/27/2019
3,000,000.00
3,098,790.00
2,918,256.73
1.250
2.181
07/31/2023
9128282D1
1604
U.S. Treasury Notes
06/26/2019
2,000,000.00
2,075,400.00
1,978,471.68
1.375
1.729
08/31/2023
Subtotal and Average 36,689,289.36
37,000,000.00
37,637,330.00
36,696,627.95
2.083
Federal Agency
Coupon Securities
3133EHNX7
1534
Federal Farm Credit
06/21/2017
2,000,000.00
2,028,000.00
1,998,614.58
1.650
1.724
06/21/2021
313OA8QS5
1524
Federal Home Loan Bank
02/13/2017
2,000,000.00
2,019,500.00
1,986,805.51
1.125
1.790
AA+
Aaa 07/14/2021
3134G9N94
1537
Federal Home Loan Mortgage
06/23/2017
2,000,000.00
2,032,420.00
2,003,399.63
1.875
1.710
AA+
Aaa 07/27/2021
3137EAEC9
1557
Federal Home Loan Mortgage
02/23/2018
2,000,000.00
2,021,280.00
1,970,975.18
1.125
2.493
AA+
Aaa 08/12/2021
313378JP7
1575
Federal Home Loan Bank
06/26/2018
2,000,000.00
2,049,600.00
1,992,612.58
2.375
2.712
AA+
Aaa 09/10/2021
3130AABG2
1555
Federal Home Loan Bank
02/23/2018
2,000,000.00
2,048,540.00
1,982,725.75
1.875
2.520
AA+
Aaa 11/29/2021
3130AG3Y9
1588
Federal Home Loan Bank
03/27/2019
2,000,000.00
2,070,020.00
2,006,110.06
2.420
2.225
02/15/2022
3133EKNM4
1601
FEDERAL FARM CREDIT BANK
06/26/2019
2,000,000.00
2,065,600.00
2,014,201.40
2.200
1.760
02/28/2022
3133EHCT8
1536
Federal Farm Credit
06/23/2017
2,000,000.00
2,065,660.00
2,010,562.82
2.150
1.825
AA+
Aaa 03/15/2022
3130AEBM1
1573
Federal Home Loan Bank
06/26/2018
2,000,000.00
2,095,760.00
1,998,868.05
2.750
2.780
AA+
Aaa 06/10/2022
3134GSAX3
1560
Federal Home Loan Mortgage
02/23/2018
2,000,000.00
2,000,000.00
1,986,454.08
2.220
2.580
AA+
Aaa 07/01/2022
3135GOT78
1589
Federal Nat'l Mortgage Assoc.
03/27/2019
2,000,000.00
2,076,620.00
1,991,770.13
2.000
2.190
10/05/2022
3135GOT78
1603
Federal Nat'l Mortgage Assoc.
06/26/2019
1,000,000.00
1,038,310.00
1,005,682.81
2.000
1.740
10/05/2022
3133EDWW8
1600
Federal Farm Credit
06/26/2019
1,000,000.00
1,052,530.00
1,017,860.93
2.600
1.784
10/06/2022
3133EC4Q4
1558
Federal Farm Credit
02/23/2018
2,000,000.00
2,073,560.00
1,960,680.70
1.820
2.700
AA+
Aaa 11/23/2022
3133EJBP3
1590
Federal Farm Credit
03/27/2019
2,000,000.00
2,113,720.00
2,014,284.30
2.500
2.210
AAA
Aaa 02/02/2023
3133EKSN7
1605
Federal Farm Credit
06/26/2019
4,000,000.00
4,176,280.00
3,996,557.01
1.770
1.800
AAA
Aaa 06/26/2023
3133EHST1
1591
FEDERAL FARM CREDIT BANK
03/27/2019
1,000,000.00
1,051,700.00
993,472.07
2.010
2.234
07/26/2023
3135GOU43
1602
Federal Nat'l Mortgage Assoc.
06/26/2019
2,000,000.00
2,167,420.00
2,065,825.66
2.875
1.801
09/12/2023
3133EHN25
1606
FEDERAL FARM CREDIT BANK
06/26/2019
2,000,000.00
2,123,860.00
2,025,180.83
2.200
1.805
11/01/2023
Subtotal
and Average 39,755,079.30
39,000,000.00
40,370,380.00
39,022,644.08
2.116
Total and Average 133,871,481.69
132,686,168.40
135,515,240.43
132,405,440.43
1.885
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date: 09/1312020 - 14:36
2020 -10 -14
Item #08D
Portfolio FY20
AC
Page 9 `of82730
City of Encinitas - YTD Report
Portfolio Management
Portfolio Details - Cash
June 30, 2020
Average Purchase Stated YTM
CUSIP Investment # Issuer Balance Date Par Value Market Value Book Value Rate S &P Moody's
Passbook /Checking Accounts
SYS1010 1010 Union Bank Checking Acct. 3,753,480.12 3,753,480.12 3,753,480.12 0.000
Average Balance 0.00
Total Cash and Investments
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date: 09/1312020 - 14:36
2020 -10 -14
133,871,481.69
136,439,648.52
Item #08D
139, 268,720.55 136,158, 920.55 1.885
Page 4
Portfolio FY20
AC
Page 10 (OU82730
American Express National Bank
02589AAM4 1580 Certificates of Deposit - Bank Amort 245,000.00 3.300 266,724.15 06/30/2020 3.300 06/26/2023 1,090
Subtotal and Average 245,000.00 266,724.15 3.300 1,090
BANK HAPOALIM BM NY
06251AW48 1585 Certificates of Deposit - Bank Amort 246,000.00 2.900 268,595.10 06/30/2020 2.900 03/25/2024 1,363
Subtotal and Average 246,000.00 268,595.10 2.900 1,363
BankVista
06653ABM5 1533 Certificates of Deposit - Bank Amort 245,000.00 2.000 253,731.80 06/30/2020 2.000 06/30/2022 729
Subtotal and Average 245,000.00 253,731.80 2.000 729
BMW Bank North America
05580AMB7 1562 Certificates of Deposit - Bank Amort 246,000.00 2.900 263,537.34 06/30/2020 2.900 03/29/2023 1,001
Subtotal and Average 246,000.00 263,537.34 2.900 1,001
CA Asset Management Program
City of Encinitas - YTD Report
CITY ECINITAS
SYS1003 1003
Managed Pool Accounts Amort
0OF
5 SNVULCAN
r
Investments by Issuer
ENCINITAS, ENCINITAS, CA 9
1,068,671.50
Active Investments
0.510 1
(760)633 -2641
Sorted by Issuer
14042RGN5 1552
June 30, 2020
245,000.00 2.300
255,432.10 06/30/2020
2.300 07/19/2022 748
Investment Current Market
YTM
Redemption Days To Call
CUSIP Investment #
Security Type Class Remaining Cost Rate Market Value Date
365
Date Maturity Date Collateral
ALMA BANK
020080BUO 1619
Certificates of Deposit - Bank Amort 249,000.00 0.900 253,352.52 06/30/2020
0.900
09/29/2023 1,185
Subtotal and Average 249,000.00 253,352.52
0.900
1,185
American Express National Bank
02589AAM4 1580 Certificates of Deposit - Bank Amort 245,000.00 3.300 266,724.15 06/30/2020 3.300 06/26/2023 1,090
Subtotal and Average 245,000.00 266,724.15 3.300 1,090
BANK HAPOALIM BM NY
06251AW48 1585 Certificates of Deposit - Bank Amort 246,000.00 2.900 268,595.10 06/30/2020 2.900 03/25/2024 1,363
Subtotal and Average 246,000.00 268,595.10 2.900 1,363
BankVista
06653ABM5 1533 Certificates of Deposit - Bank Amort 245,000.00 2.000 253,731.80 06/30/2020 2.000 06/30/2022 729
Subtotal and Average 245,000.00 253,731.80 2.000 729
BMW Bank North America
05580AMB7 1562 Certificates of Deposit - Bank Amort 246,000.00 2.900 263,537.34 06/30/2020 2.900 03/29/2023 1,001
Subtotal and Average 246,000.00 263,537.34 2.900 1,001
CA Asset Management Program
SYS1003 1003
Managed Pool Accounts Amort
1,068,671.50 0.510
1,068,671.50 06/30/2019
0.510 1
Subtotal and Average
1,068,671.50
1,068,671.50
0.510 1
Capital One NA
14042RGN5 1552
Certificates of Deposit - Bank Amort
245,000.00 2.300
255,432.10 06/30/2020
2.300 07/19/2022 748
Subtotal and Average
245,000.00
255,432.10
2.300 748
Capital One Bank USA, NA
1404203Q1 1553 Certificates of Deposit - Bank Amort 245,000.00 2.300 255,432.10 06/30/2020 2.300 07/19/2022 748
Subtotal and Average 245,000.00 255,432.10 2.300 748
CELTIC BANK
15118RSN8 1614 Negotiable CDs Amort 249,000.00 1.600 259,151.73 06/30/2020 1.601 10/30/2023 1,216
Portfolio FY20
Data Updated: SET_ANNU: 09/13/2020 14:36 AC
Run Date: 09/13/2020 - D _DI) 7.1.1
� �0 -10 -14 Item #08D Page 11 01R er.7.3.6.1
City of Encinitas - YTD Report
Investments by Issuer
Sorted by Issuer Page 2
Investment Current Market YTM Redemption Days To Call
CUSIP Investment # Security Type Class Remaining Cost Rate Market Value Date 365 Date Maturity Date Collateral
Subtotal and Average 249,000.00 259,151.73 1.601 1,216
Citi Bank NA
17312QH69 1563 Certificates of Deposit - Bank Amort 246,000.00 2.850 263,200.32 06/30/2020 2.850 03/29/2023 1,001
Subtotal and Average 246,000.00 263,200.32 2.850 1,001
Citizens State Bankl
17670DAC8 1530
Certificates of Deposit - Bank Amort
245,000.00 1.900
251,284.25 06/30/2020
1.900 12/30/2021
547
Subtotal and Average
245,000.00
251,284.25
1.900
547
COMMERCE BANK GENEVA MN
200056QRZ8 1595
Certificates of Deposit - Bank Amort
249,000.00 2.300
267,139.65 06/30/2020
2.300 06/26/2024
1,456
Subtotal and Average
249,000.00
267,139.65
2.300
1,456
City National Bank Metropolis
17801 GSB7 1551
Certificates of Deposit - Bank Amort
245,000.00 2.000
252,036.40 06/30/2020
2.000 02/03/2022
582
Subtotal and Average
245,000.00
252,036.40
2.000
582
COMMUNITY BANK
203522AT4 1610
Certificates of Deposit - Bank Amort
249,000.00 1.650
260,919.63 06/30/2020
1.650 11/08/2024
1,591
Subtotal and Average
249,000.00
260,919.63
1.650
1,591
Comenity Capital Bank
20033AZK5 1571 Certificates of Deposit - Bank Amort 245,000.00 3.300 266,731.50 06/30/2020 3.300 06/29/2023 1,093
Subtotal and Average 245,000.00 266,731.50 3.300 1,093
SD County Investment Pool
SYS1584 1584 Managed Pool Accounts Amort 4,158,198.72 5.102 4,212,396.95 06/30/2020 5.102 1
Subtotal and Average 4,158,198.72 4,212,396.95 5.102 1
CORNHUSKER BANK
219255AK2 1623 Certificates of Deposit - Bank Amort 249,000.00 1.100 255,252.39 06/30/2020 1.100 03/29/2024 1,367
Subtotal and Average 249,000.00 255,252.39 1.100 1,367
CENTERSTATE BANK NA
15201 QCJ4 1620 Certificates of Deposit - Bank Amort
Subtotal and Average
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date: 09/13/2020 �b�0 -10 -1 4
248,000.00 1.000 252,344.96 06/30/2020 1.000 03/31/2025 1,734
248,000.00 252,344.96 1.000 1,734
Portfolio FY20
AC
Item #08D Page 12 ofR err..l7.3.6.1
City of Encinitas - YTD Report
Investments by Issuer
Sorted by Issuer Page 3
Investment Current Market YTM Redemption Days To Call
CUSIP Investment # Security Type Class Remaining Cost Rate Market Value Date 365 Date Maturity Date Collateral
Denver Savings Bank
249398BT4 1596 Certificates of Deposit- Bank Amort 249,000.00 2.250 263,202.96 06/30/2020 2.250 06/21/2023 1,085
Subtotal and Average 249,000.00 263,202.96 2.250 1,085
EAGLEBANK
Credit
3133EHNX7
1534
3133EHCT8
1536
3133EC4Q4
27002YEQ5 1594
Certificates of Deposit - Bank
Amort
249,000.00 2.300
267,087.36 06/30/2020
2.300 06/20/2024
1,450
06/30/2020
Subtotal and
Average
249,000.00
267,087.36
2.300
1,450
Enerbank USA
253,389.87
946
1.000
1,729
First Bank Puerto Rico
29278TAU4 1568
Certificates of Deposit - Bank
Amort
246,000.00 2.850
263,200.32 06/30/2020
2.850 03/29/2023
1,001
1,090
Subtotal and
Average
246,000.00
263,200.32
2.850
1,001
ENTERPRISE BANK AND TRUST
29367SJQ8 1607 Certificates of Deposit - Bank Amort 249,000.00 1.800 262,525.68 06/30/2020 1.800 11/08/2024 1,591
Subtotal and Average 249,000.00 262,525.68 1.800 1,591
EVERGREEN BANK GROUP
Credit
3133EHNX7
1534
3133EHCT8
1536
3133EC4Q4
1558
3133EJBP3
300185JF3 1615
Certificates of Deposit - Bank Amort
249,000.00
1.000
253,389.87
06/30/2020
1.000
03/26/2025
1,729
2,113,720.00
Subtotal and Average
249,000.00
2.210
253,389.87
946
1.000
1,729
First Bank Puerto Rico
10/06/2022
827
4,176,280.00
06/30/2020
1.800
06/26/2023
1,090
33767GAMO 1608
Negotiable CDs Amort
249,000.00
1.850
263,041.11
06/30/2020
1.852
10/25/2024
1,577
Subtotal and Average
249,000.00
263,041.11
1.852
1,577
FEDERAL FARM CREDIT BANK
3133EHST1 1591
Federal Agency Coupon Securities Amort
990,790.00
2.010
1,051,700.00
06/30/2020
2.234
07/26/2023
1,120
3133EKNM4 1601
Federal Agency Coupon Securities Amort
2,022,884.00
2.200
2,065,600.00
06/30/2020
1.760
02/28/2022
607
3133EHN25 1606
Federal Agency Coupon Securities Amort
2,032,840.00
2.200
2,123,860.00
06/30/2020
1.805
11/01/2023
1,218
Subtotal and Average
5,046,514.00
5,241,160.00
1.867
951
Federal Farm
Credit
3133EHNX7
1534
3133EHCT8
1536
3133EC4Q4
1558
3133EJBP3
1590
3133EDWW8
1600
3133EKSN7
1605
Federal Agency Coupon Securities
Fair
Federal Agency Coupon Securities
Fair
Federal Agency Coupon Securities
Fair
Federal Agency Coupon Securities
Amort
Federal Agency Coupon Securities
Amort
Federal Agency Coupon Securities
Amort
Subtotal and Average
1,994,300.00 1.650
2,029,280.00 2.150
1, 922, 000.00 1.820
2,021,250.00 2.500
1,025,860.00 2.600
3, 995, 388.00 1.770
12, 988, 078.00
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date:09 /13/2020�b o.10 -14 Item #08D
2,028,000.00
06/30/2020
1.724
06/21/2021
355
2,065,660.00
06/30/2020
1.825
03/15/2022
622
2,073,560.00
06/30/2020
2.700
11/23/2022
875
2,113,720.00
06/30/2020
2.210
02/02/2023
946
1,052,530.00
06/30/2020
1.784
10/06/2022
827
4,176,280.00
06/30/2020
1.800
06/26/2023
1,090
13, 509,750.00
1.992
829
Portfolio FY20
AC
Page 13 WIR erDI)
. 17.3.6.1
Federal Home Loan Mortgage
City of Encinitas - YTD Report
3134G9N94 1537
Federal Agency Coupon Securities Fair
2,012,982.00
1.875
2,032,420.00
Investments by Issuer
1.710
07/27/2021
391
3137EAEC9 1557
Federal Agency Coupon Securities Fair
1,909,596.00
1.125
2,021,280.00
06/30/2020
2.493
08/12/2021
407
3134GSAX3 1560
Federal Agency Coupon Securities Fair
Page 4
2.220
2,000,000.00
06/30/2020
2.580
Sorted by Issuer
730 07/01/2020
Subtotal and Average
5,893,078.00
6,053,700.00
2.285
Investment Current
515
Market
YTM
Redemption Days To Call
CUSIP
Investment #
Security Type
Class
Remaining Cost Rate
Market Value
Date
365
Date Maturity
Date Collateral
Federal Home Loan Bank
06/30/2020
1.900
06/23/2021
357
Subtotal and Average
245,000.00
313OA8QS5
1524
Federal Agency Coupon Securities
Fair
1,943,720.00 1.125
2,019,500.00
06/30/2020
1.790
07/14/2021
378
3130AABG2
1555
Federal Agency Coupon Securities
Fair
1,953,890.00 1.875
2,048,540.00
06/30/2020
2.520
11/29/2021
516
3130AEBM1
1573
Federal Agency Coupon Securities
Fair
1,997,694.00 2.750
2,095,760.00
06/30/2020
2.780
06/10/2022
709
313378JP7
1575
Federal Agency Coupon Securities
Fair
1,980,128.00 2.375
2,049,600.00
06/30/2020
2.712
09/10/2021
436
3130AG3Y9
1588
Federal Agency Coupon Securities
Amort
2,010,860.00 2.420
2,070,020.00
06/30/2020
2.225
02/15/2022
594
3135GOU43 1602
Federal Agency Coupon Securities Amort
Subtotal and Average
9,886,292.00
10,283,420.00
06/30/2020
2.425
09/12/2023
531
Federal Home Loan Mortgage
3134G9N94 1537
Federal Agency Coupon Securities Fair
2,012,982.00
1.875
2,032,420.00
06/30/2020
1.710
07/27/2021
391
3137EAEC9 1557
Federal Agency Coupon Securities Fair
1,909,596.00
1.125
2,021,280.00
06/30/2020
2.493
08/12/2021
407
3134GSAX3 1560
Federal Agency Coupon Securities Fair
1,970,500.00
2.220
2,000,000.00
06/30/2020
2.580
07/01/2022
730 07/01/2020
Subtotal and Average
5,893,078.00
6,053,700.00
2.285
515
Firstrust Savings Bank
33763OBD8 1531
Certificates of Deposit - Bank Amort
245,000.00
1.900
249,179.70
06/30/2020
1.900
06/23/2021
357
Subtotal and Average
245,000.00
249,179.70
1.900
357
FIRST SERVICE BANK
3364OVDE5 1609
Certificates of Deposit - Bank Amort
249,000.00
1.700
260,055.60
06/30/2020
1.700
11/15/2023
1,232
Subtotal and Average
249,000.00
260,055.60
1.700
1,232
Federal Nat'l Mortgage Assoc.
3135GOT78 1589
Federal Agency Coupon Securities Amort
1,987,180.00
2.000
2,076,620.00
06/30/2020
2.190
10/05/2022
826
3135GOU43 1602
Federal Agency Coupon Securities Amort
2,086,700.00
2.875
2,167,420.00
06/30/2020
1.801
09/12/2023
1,168
3135GOT78 1603
Federal Agency Coupon Securities Amort
1,008,231.00
2.000
1,038,310.00
06/30/2020
1.740
10/05/2022
826
Subtotal and Average
5,082,111.00
5,282,350.00
1.935
961
FORTUNE BANK ARNOLD
34969RCS5 1616
Certificates of Deposit - Bank Amort
249,000.00
1.000
254,326.11
06/30/2020
1.000
03/27/2024
1,365
Subtotal and Average
249,000.00
254,326.11
1.000
1,365
First State Bank Dequeen
336460CQ1 1598
Certificates of Deposit - Bank Amort
249,000.00
2.300
267,159.57
06/30/2020
2.300
06/28/2024
1,458
Subtotal and Average
249,000.00
267,159.57
2.300
1,458
First Source Bank
33646CJPO 1569 Certificates of Deposit - Bank
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date: 09/13/2020 �b�0 -10 -1 4
Amort 246,000.00 2.850 263,379.90 06/30/2020 2.850 04/11/2023 1,014
Portfolio FY20
AC
Item #08D Page 14 ofR err..l7.3.6.1
City of Encinitas - YTD Report
Investments by Issuer
Sorted by Issuer Page 5
Investment Current Market YTM Redemption Days To Call
CUSIP Investment # Security Type Class Remaining Cost Rate Market Value Date 365 Date Maturity Date Collateral
Subtotal and Average 246,000.00 263,379.90 2.850 1,014
Goldman Sachs Bank USA
38148PKX4 1528 Certificates of Deposit - Bank Amort 245,000.00 2.350 255,358.60 06/30/2020 2.350 06/21/2022 720
Subtotal and Average 245,000.00 255,358.60 2.350 720
Industrial & Comm Bank China
45581 EASO 1564
Certificates of Deposit - Bank Amort
249,000.00 2.900
266,728.80 06/30/2020
2.900 03/29/2023 1,001
2.800 03/29/2023
Subtotal and Average
249,000.00
266,728.80
2.900 1,001
CA LAIF
2.800
1,001
LEGENDS BANK
SYS1012 1012
Local Agency Investment Funds Amort
36,391,523.06 1.217
36,570,307.15 06/30/2020
1.217 1
Certificates of Deposit - Bank Amort
Subtotal and Average
36,391,523.06
36,570,307.15
1.217 1
LCA Bank Corp
501798LT7 1566
Certificates of Deposit - Bank Amort
246,000.00 2.800
262,863.30 06/30/2020
2.800 03/29/2023
1,001
Subtotal and Average
246,000.00
262,863.30
2.800
1,001
LEGENDS BANK
52465JHT7 1618
Certificates of Deposit - Bank Amort
249,000.00 1.000
254,089.56 06/30/2020
1.000 09/30/2024
1,552
Subtotal and Average
249,000.00
254,089.56
1.000
1,552
LIVE OAK BANKING COMPANY
538036KU7 1622 Certificates of Deposit - Bank Amort 249,000.00 1.100 254,532.78 06/30/2020 1.100 03/31/2025 1,734
Subtotal and Average 249,000.00 254,532.78 1.100 1,734
Medallion Bank UT
58404DBL4 1561 Certificates of Deposit - Bank Amort 249,000.00 2.900 266,711.37 06/30/2020 2.900 03/28/2023 1,000
Subtotal and Average 249,000.00 266,711.37 2.900 1,000
Merrick Bank
59013KAR7 1597 Certificates of Deposit - Bank Amort 249,000.00 2.400 266,355.30 06/30/2020 2.400 12/28/2023 1,275
Subtotal and Average 249,000.00 266,355.30 2.400 1,275
MORGAN STANLEY PRIVATE BANK
61760AG52 1593 Certificates of Deposit - Bank Amort
Subtotal and Average
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date: 09/13/2020 �b�0 -10 -1 4
246,000.00 2.600 266,723.04 06/30/2020 2.600 06/13/2024 1,443
246,000.00 266,723.04 2.600 1,443
Portfolio FY20
AC
Item #08D Page 15 ofR erD.l7.3.6.1
NICOLET NATIONAL BANK
654062JRO 1625 Certificates of Deposit - Bank Amort 249,000.00 1.150 255,713.04 06/30/2020 1.150 03/28/2024 1,366
Subtotal and Average 249,000.00 255,713.04 1.150 1,366
PACIFIC ENTERPRISE BANK
694231AD3 1621 Certificates of Deposit - Bank Amort 249,000.00 1.150 255,115.44 06/30/2020 1.150 03/31/2025 1,734
Subtotal and Average 249,000.00 255,115.44 1.150 1,734
PADUCAH BANK AND TRUST
695292FP2 1613 Certificates of Deposit - Bank Amort 249,000.00 1.650 260,919.63 06/30/2020 1.650 11/08/2024 1,591
Subtotal and Average 249,000.00 260,919.63 1.650 1,591
PEOPLES BANK /SARDIS TN
City of Encinitas - YTD Report
710673AC8 1624
Certificates of Deposit - Bank Amort
Investments by Issuer
254,089.56 06/30/2020
1.000 09/30/2024
1,552
Subtotal and Average
249,000.00
254,089.56
1.000
Page 6
POPPY BANK
Sorted by Issuer
73319FAD1 1611
Investment Current
Market
YTM
Redemption Days To Call
CUSIP Investment #
Security Type Class
Remaining Cost Rate
Market Value Date
365
Date Maturity Date Collateral
MIDCOUNTRY BANK
59565QCS2 1617
Certificates of Deposit - Bank Amort
249,000.00 1.000
253,384.89 06/30/2020
1.000
03/27/2025 1,730
Subtotal and Average
249,000.00
253,384.89
1.000
1,730
Morgan Stanley Bank
61747MR37 1565
Certificates of Deposit - Bank Amort
246,000.00 2.900
263,537.34 06/30/2020
2.900
03/29/2023 1,001
Subtotal and Average
246,000.00
263,537.34
2.900
1,001
NICOLET NATIONAL BANK
654062JRO 1625 Certificates of Deposit - Bank Amort 249,000.00 1.150 255,713.04 06/30/2020 1.150 03/28/2024 1,366
Subtotal and Average 249,000.00 255,713.04 1.150 1,366
PACIFIC ENTERPRISE BANK
694231AD3 1621 Certificates of Deposit - Bank Amort 249,000.00 1.150 255,115.44 06/30/2020 1.150 03/31/2025 1,734
Subtotal and Average 249,000.00 255,115.44 1.150 1,734
PADUCAH BANK AND TRUST
695292FP2 1613 Certificates of Deposit - Bank Amort 249,000.00 1.650 260,919.63 06/30/2020 1.650 11/08/2024 1,591
Subtotal and Average 249,000.00 260,919.63 1.650 1,591
PEOPLES BANK /SARDIS TN
710673AC8 1624
Certificates of Deposit - Bank Amort
249,000.00 1.000
254,089.56 06/30/2020
1.000 09/30/2024
1,552
Subtotal and Average
249,000.00
254,089.56
1.000
1,552
POPPY BANK
73319FAD1 1611
Certificates of Deposit - Bank Amort
249,000.00 1.650
260,917.14 06/30/2020
1.650 11/04/2024
1,587
Subtotal and Average
249,000.00
260,917.14
1.650
1,587
REVERE BANK
761400BY1 1599
Certificates of Deposit - Bank Amort
247,000.00 2.300
265,033.47 06/30/2020
2.300 06/28/2024
1,458
Subtotal and Average
247,000.00
265,033.47
2.300
1,458
Sallie Mae Bank /Murray
795450589 1570
Certificates of Deposit - Bank Amort
245,000.00 3.300
266,741.30 06/30/2020
3.300 06/27/2023
1,091
Subtotal and Average
245,000.00
266,741.30
3.300
1,091
TIAA FSB
87270LAD5 1554 Certificates of Deposit - Bank
Data Updated: SET_ANNU: 09/13/2020 14:36
Run Date: 09/13/2020 �b�0 -10 -1 4
Amort 245,000.00 2.150 254,679.95 06/30/2020 2.150 07/19/2022 748
Item #08D
Portfolio FY20
AC
Page 16 ofR erD.l7.3.6.1
City of Encinitas - YTD Report
Investments by Issuer
Sorted by Issuer Page 7
Investment Current Market YTM Redemption Days To Call
CUSIP Investment # Security Type Class Remaining Cost Rate Market Value Date 365 Date Maturity Date Collateral
Subtotal and Average 245,000.00 254,679.95 2.150 748
TRIAD BANK FRONTENAC MO
89579NCB7 1612
Certificates of Deposit - Bank Amort
Subtotal and Average
249,000.00 1.800
249,000.00
262,525.68 06/30/2020
262,525.68
1.800 11/08/2024
1.800
1,591
1,591
Union Bank Checking Acct.
912828XM7
SYS1010 1010
Passbook /Checking Accounts Amort
3,753,480.12
3,753,480.12 06/30/2018
1.625
1
06/30/2020
Subtotal and Average
3,753,480.12
3,753,480.12
9128281-32
1
Union Bank Custody Acct.
Fair
1,985,960.00
1.375
2,003,960.00
06/30/2020
SYS1004 1004
Money Market Funds Amort
3,194,775.12 0.070
3,194,775.12 04/30/2019
0.070
1
Fair
Subtotal and Average
3,194,775.12
3,194,775.12
0.070
1
U.S. Treasury Notes
912828XM7
1514
U.S. Treasury Coupon Securities
Fair
2,039,687.50
1.625
2,002,400.00
06/30/2020
1.149
07/31/2020
30
9128281-32
1520
U.S. Treasury Coupon Securities
Fair
1,985,960.00
1.375
2,003,960.00
06/30/2020
1.580
08/31/2020
61
9128281-65
1521
U.S. Treasury Coupon Securities
Fair
1,984,687.50
1.375
2,005,940.00
06/30/2020
1.593
09/30/2020
91
9128281-99
1522
U.S. Treasury Coupon Securities
Fair
1,982,580.00
1.375
2,007,860.00
06/30/2020
1.618
10/31/2020
122
912828576
1523
U.S. Treasury Coupon Securities
Fair
1,943,660.00
1.125
2,020,620.00
06/30/2020
1.784
07/31/2021
395
91282BA42
1538
U.S. Treasury Coupon Securities
Fair
2,028,750.00
2.000
2,014,680.00
06/30/2020
1.567
11/30/2020
152
912828P87
1539
U.S. Treasury Coupon Securities
Fair
1,965,625.00
1.125
2,012,260.00
06/30/2020
1.609
02/28/2021
242
912828Q37
1540
U.S. Treasury Coupon Securities
Fair
1,973,437.50
1.250
2,016,100.00
06/30/2020
1.616
03/31/2021
273
912828T34
1556
U.S. Treasury Coupon Securities
Fair
1,903,906.25
1.125
2,023,760.00
06/30/2020
2.530
09/30/2021
456
9128281-24
1572
U.S. Treasury Coupon Securities
Fair
1,934,375.00
1.875
2,073,680.00
06/30/2020
2.710
08/31/2022
791
912828F96
1574
U.S. Treasury Coupon Securities
Fair
1,958,593.75
2.000
2,048,760.00
06/30/2020
2.650
10/31/2021
487
912828VP2
1576
U.S. Treasury Coupon Securities
Fair
1,978,437.50
2.000
2,003,020.00
06/30/2020
2.531
07/31/2020
30
912828XQ8
1578
U.S. Treasury Coupon Securities
Fair
3,891,250.00
2.000
4,152,520.00
06/30/2020
2.705
07/31/2022
760
9128282W9
1579
U.S. Treasury Coupon Securities
Fair
1,933,125.00
1.875
2,076,560.00
06/30/2020
2.711
09/30/2022
821
9128282JB
1583
U.S. Treasury Coupon Securities
Fair
1,959,062.50
1.500
2,001,020.00
06/30/2020
2.531
07/15/2020
14
912828592
1592
U.S. Treasury Coupon Securities
Fair
2,884,687.50
1.250
3,098,790.00
06/30/2020
2.181
07/31/2023
1,125
9128282/31
1604
U.S. Treasury Coupon Securities
Amort
1,971,562.50
1.375
2,075,400.00
06/30/2020
1.729
08/31/2023
1,156
Subtotal and
Average
36,319,387.50
37,637,330.00
2.105
451
Wells Fargo Bank
949763JG2 1535 Certificates of Deposit - Bank Amort 245,000.00 2.250 254,954.35 06/30/2020 2.250 06/30/2022 729
Subtotal and Average 245,000.00 254,954.35 2.250 729
Winter Hill Bank FSB
Portfolio FY20
Data Updated: SET_ANNU: 09/13/2020 14:36 AC
Run Date: 09/13/2020 - D _DI) 7.1.1
� �0 -10 -14 Item #08D Page 17 o11R er.7.3.6.1
City of Encinitas - YTD Report
Investments by Issuer
Sorted by Issuer
Page 8
Investment
Current
Market
YTM Redemption Days To Call
CUSIP Investment # Security Type Class
Remaining Cost Rate
Market Value Date
365 Date Maturity Date Collateral
975875AK1 1526 Certificates of Deposit - Bank Amort
245,000.00 1.800
248,991.05 06/30/2020
1.800 06/28/2021 362
Subtotal and Average
245,000.00
248,991.05
1.800 362
Total and Average 135,655,109.02 139,268,720.55 1.840 438
Portfolio FY20
Data Updated: SET_ANNU: 09/13/2020 14:36 AC
Run Date: 09/13/2020 - D _DI) 7.1.1
� �0 -10 -14 Item #08D Page 18 ofR er.7.3.6.1
- City of Encinitas - YTD Report
Activity Report
Sorted By Issuer
July 1, 2019 - June 30, 2020
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment # Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Issuer: Ally Bank
CITY OF ENCINITAS
505 S. VULCAN
ENCINITAS, ENCINITAS, CA 9
(760)633 -2641
Ending
Balance
Certificates of Deposit - Bank
020061-31\11 1527 Ally Bank 1.900 06/22/2020 0.00 245,000.00
Subtotal and Balance 245,000.00 0.00 245,000.00 0.00
Issuer Subtotal 0.000% 245,000.00 0.00 245,000.00 0.00
Issuer: ALMA BANK
Certificates of Deposit - Bank
020080BUO 1619 ALMA BANK 0.900 03/30/2020 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: American Express National Bank
Certificates of Deposit - Bank
Subtotal and Balance
245,000.00
245,000.00
Issuer Subtotal 0.180%
245,000.00
0.00 0.00 245,000.00
Issuer: BANK HAPOALIM BM NY
Certificates of Deposit - Bank
Subtotal and Balance
246,000.00
246,000.00
Issuer Subtotal 0.180%
246,000.00
0.00 0.00 246,000.00
Issuer: BankVista
Certificates of Deposit - Bank
Subtotal and Balance
245,000.00
245,000.00
Issuer Subtotal 0.180%
245,000.00
0.00 0.00 245,000.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07
DA (PRF_DA) 7.2.0
2020 -10 -14
Item #08D
Page 19 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Issuer: Chippewa Valley Bank
Certificates of Deposit - Bank
169894AN2 1529 Chippewa Valley Bank 1.700 06/30/2020 0.00 245,000.00
Subtotal and Balance 245,000.00 0.00 245,000.00 0.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 20 of ,821er. 7.3.6.1
Activity Report
Page 2
July
1, 2019 - June 30, 2020
Par Value
Par Value
Percent
Beginning
Current Transaction
Purchases or
Redemptions or
Ending
CUSIP Investment # Issuer of Portfolio
Balance
Rate Date
Deposits
Withdrawals
Balance
Issuer: BMW Bank North America
Certificates of Deposit - Bank
Subtotal and Balance
246,000.00
246,000.00
Issuer Subtotal 0.180%
246,000.00
0.00
0.00
246,000.00
Issuer: CA Asset Management Program
Managed Pool Accounts
SYS1003 1003 CA Asset Management Program
0.510
19,268.18
0.00
Subtotal and Balance
1,049,403.32
19,268.18
0.00
1,068,671.50
Issuer Subtotal 0.783%
1,049,403.32
19,268.18
0.00
1,068,671.50
Issuer: Capital One NA
Certificates of Deposit - Bank
Subtotal and Balance
245,000.00
245,000.00
Issuer Subtotal 0.180%
245,000.00
0.00
0.00
245,000.00
Issuer: Capital One Bank USA, NA
Certificates of Deposit - Bank
Subtotal and Balance
245,000.00
245,000.00
Issuer Subtotal 0.180%
245,000.00
0.00
0.00
245,000.00
Issuer: CELTIC BANK
Negotiable CDs
15118RSNB 1614 CELTIC BANK
1.600 10/30/2019
249,000.00
0.00
Subtotal and Balance
0.00
249,000.00
0.00
249,000.00
Issuer Subtotal 0.182%
0.00
249,000.00
0.00
249,000.00
Issuer: Chippewa Valley Bank
Certificates of Deposit - Bank
169894AN2 1529 Chippewa Valley Bank 1.700 06/30/2020 0.00 245,000.00
Subtotal and Balance 245,000.00 0.00 245,000.00 0.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 20 of ,821er. 7.3.6.1
City of Encinitas - YTD Report.
Activity Report
Page 3
July
1, 2019 - June 30, 2020
Par Value
Par Value
Percent
Beginning
Current Transaction
Purchases or
Redemptions or
Ending
CUSIP Investment # Issuer of Portfolio
Balance
Rate Date
Deposits
Withdrawals
Balance
Issuer Subtotal
0.000%
245,000.00
0.00
245,000.00
0.00
Issuer: CIT Bank
Certificates of Deposit - Bank
17284C5K6 1487 CIT Bank
2.200 12/10/2019
0.00
248,000.00
Subtotal and Balance
248,000.00
0.00
248,000.00
0.00
Issuer Subtotal
0.000%
248,000.00
0.00
248,000.00
0.00
Issuer: Citi Bank NA
Certificates of Deposit - Bank
Subtotal and Balance
246,000.00
246,000.00
Issuer Subtotal
0.180%
246,000.00
0.00
0.00
246,000.00
Issuer: Citizens State Bankl
Certificates of Deposit - Bank
Subtotal and Balance
245,000.00
245,000.00
Issuer Subtotal
0.180%
245,000.00
0.00
0.00
245,000.00
Issuer: COMMERCE BANK GENEVA MN
Certificates of Deposit - Bank
Subtotal and Balance
249,000.00
249,000.00
Issuer Subtotal
0.182%
249,000.00
0.00
0.00
249,000.00
Issuer: City National Bank Metropolis
Certificates of Deposit - Bank
Subtotal and Balance
245,000.00
245,000.00
Issuer Subtotal
0.180%
245,000.00
0.00
0.00
245,000.00
Issuer: COMMUNITY BANK
Certificates of Deposit - Bank
203522AT4 1610 COMMUNITY
BANK
1.650 11/08/2019
249,000.00
0.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07
DA (PRF_DA) 7.2.0
2020 -10 -14
Item #08D
Page 21 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Activity Report
July 1, 2019 - June 30, 2020
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment # Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Page 4
Ending
Balance
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: Comenity Capital Bank
Certificates of Deposit - Bank
Subtotal and Balance 245,000.00 245,000.00
Negotiable CDs
20033AUE4 1525 Comenity Capital Bank 1.750 10/28/2019 0.00 245,000.00
Subtotal and Balance 245,000.00 0.00 245,000.00 0.00
Issuer Subtotal 0.180% 490,000.00 0.00 245,000.00 245,000.00
Issuer: SD County Investment Pool
Managed Pool Accounts
SYS1584 1584 SD County Investment Pool 5.102 109,777.52 0.00
Subtotal and Balance 4,048,421.20 109,777.52 0.00 4,158,198.72
Issuer Subtotal 3.048% 4,048,421.20 109,777.52 0.00 4,158,198.72
Issuer: CORNHUSKER BANK
Certificates of Deposit - Bank
219255AK2 1623 CORNHUSKER BANK 1.100 03/30/2020 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: CENTERSTATE BANK NA
Certificates of Deposit - Bank
15201QCJ4 1620 CENTERSTATE BANK NA 1.000 03/30/2020 248,000.00 0.00
Subtotal and Balance 0.00 248,000.00 0.00 248,000.00
Issuer Subtotal 0.182% 0.00 248,000.00 0.00 248,000.00
Issuer: Denver Savings Bank
Certificates of Deposit - Bank
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 22 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Activity Report
Page 5
July
1, 2019 - June 30, 2020
Par Value
Par Value
Percent
Beginning
Current Transaction
Purchases or
Redemptions or
Ending
CUSIP Investment # Issuer of Portfolio
Balance
Rate Date
Deposits
Withdrawals
Balance
Subtotal and Balance
249,000.00
249,000.00
Issuer Subtotal 0.182%
249,000.00
0.00
0.00
249,000.00
Issuer: EAGLEBANK
Certificates of Deposit - Bank
Subtotal and Balance
249,000.00
249,000.00
Issuer Subtotal 0.182%
249,000.00
0.00
0.00
249,000.00
Issuer: Enerbank USA
Certificates of Deposit - Bank
Subtotal and Balance
246,000.00
246,000.00
Issuer Subtotal 0.180%
246,000.00
0.00
0.00
246,000.00
Issuer: ENTERPRISE BANK AND TRUST
Certificates of Deposit - Bank
29367SJQ8 1607 ENTERPRISE BANK AND TRUST
1.800 11/08/2019
249,000.00
0.00
Subtotal and Balance
0.00
249,000.00
0.00
249,000.00
Issuer Subtotal 0.182%
0.00
249,000.00
0.00
249,000.00
Issuer: EVERGREEN BANK GROUP
Certificates of Deposit - Bank
300185JF3 1615 EVERGREEN BANK GROUP
1.000 03/26/2020
249,000.00
0.00
Subtotal and Balance
0.00
249,000.00
0.00
249,000.00
Issuer Subtotal 0.182%
0.00
249,000.00
0.00
249,000.00
Issuer: First Bank Puerto Rico
Negotiable CDs
33767GAMO 1608 First Bank Puerto Rico
1.850 10/28/2019
249,000.00
0.00
Subtotal and Balance
0.00
249,000.00
0.00
249,000.00
Issuer Subtotal 0.182%
0.00
249,000.00
0.00
249,000.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07
DA (PRF_DA) 7.2.0
2020 -10 -14
Item #08D
Page 23 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Federal Agency Coupon Securities
313383HU8 1513 Federal Home Loan Bank 1.750 06/12/2020 0.00 2,000,000.00
Subtotal and Balance 12,000,000.00 0.00 2,000,000.00 10,000,000.00
Issuer Subtotal 7.329% 12,000,000.00 0.00 2,000,000.00 10,000,000.00
Issuer: Federal Home Loan Mortgage
Federal Agency Coupon Securities
3137EADR7 1512 Federal Home Loan Mortgage 1.375 05/01/2020 0.00 2,000,000.00
3137EAEB1 1559 Federal Home Loan Mortgage 0.875 07/19/2019 0.00 2,000,000.00
Subtotal and Balance 10,000,000.00 0.00 4,000,000.00 6,000,000.00
Issuer Subtotal 4.398% 10,000,000.00 0.00 4,000,000.00 6,000,000.00
Issuer: Firstrust Savings Bank
Certificates of Deposit - Bank
Subtotal and Balance 245,000.00 245,000.00
Issuer Subtotal 0.180% 245,000.00 0.00 0.00 245,000.00
Issuer: FIRST SERVICE BANK
Certificates of Deposit - Bank
33640VDE5 1609 FIRST SERVICE BANK 1.700 11/15/2019 249,000.00 0.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 24 of ,821er. 7.3.6.1
Activity Report
Page 6
July 1, 2019 - June 30, 2020
Par Value
Par Value
Percent
Beginning Current Transaction
Purchases or
Redemptions or
Ending
CUSIP Investment # Issuer of Portfolio
Balance Rate Date
Deposits
Withdrawals
Balance
Issuer: FEDERAL FARM CREDIT BANK
Federal Agency Coupon Securities
Subtotal and Balance
5,000,000.00
5,000,000.00
Issuer Subtotal 3.665%
5,000,000.00
0.00
0.00
5,000,000.00
Issuer: Federal Farm Credit
Federal Agency Coupon Securities
Subtotal and Balance
13,000,000.00
13,000,000.00
Issuer Subtotal 9.528%
13,000,000.00
0.00
0.00
13,000,000.00
Issuer: Federal Home Loan Bank
Federal Agency Coupon Securities
313383HU8 1513 Federal Home Loan Bank 1.750 06/12/2020 0.00 2,000,000.00
Subtotal and Balance 12,000,000.00 0.00 2,000,000.00 10,000,000.00
Issuer Subtotal 7.329% 12,000,000.00 0.00 2,000,000.00 10,000,000.00
Issuer: Federal Home Loan Mortgage
Federal Agency Coupon Securities
3137EADR7 1512 Federal Home Loan Mortgage 1.375 05/01/2020 0.00 2,000,000.00
3137EAEB1 1559 Federal Home Loan Mortgage 0.875 07/19/2019 0.00 2,000,000.00
Subtotal and Balance 10,000,000.00 0.00 4,000,000.00 6,000,000.00
Issuer Subtotal 4.398% 10,000,000.00 0.00 4,000,000.00 6,000,000.00
Issuer: Firstrust Savings Bank
Certificates of Deposit - Bank
Subtotal and Balance 245,000.00 245,000.00
Issuer Subtotal 0.180% 245,000.00 0.00 0.00 245,000.00
Issuer: FIRST SERVICE BANK
Certificates of Deposit - Bank
33640VDE5 1609 FIRST SERVICE BANK 1.700 11/15/2019 249,000.00 0.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 24 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Activity Report
July 1, 2019 - June 30, 2020
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment # Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Page 7
Ending
Balance
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: Federal Nat'l Mortgage Assoc.
Federal Agency Coupon Securities
3135GOZG1 1506 Federal Nat'l Mortgage Assoc. 1.750 09/12/2019 0.00 2,000,000.00
3135GOZY2 1507 Federal Nat'l Mortgage Assoc. 1.750 11/26/2019 0.00 2,000,000.00
Subtotal and Balance 9,000,000.00 0.00 4,000,000.00 5,000,000.00
Issuer Subtotal 3.665% 9,000,000.00 0.00 4,000,000.00 5,000,000.00
Issuer: FORTIS PRIVATE BANK
Negotiable CDs
3495FTCB3 1587 FORTIS PRIVATE BANK 2.800 01/29/2020 0.00 249,000.00
Subtotal and Balance 249,000.00 0.00 249,000.00 0.00
Issuer Subtotal 0.000% 249,000.00 0.00 249,000.00 0.00
Issuer: FORTUNE BANK ARNOLD
Certificates of Deposit - Bank
34969RCS5 1616 FORTUNE BANK ARNOLD 1.000 03/27/2020 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: First State Bank Dequeen
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.182% 249,000.00 0.00 0.00 249,000.00
Issuer: First Source Bank
Certificates of Deposit - Bank
Subtotal and Balance 246,000.00 246,000.00
Issuer Subtotal 0.180% 246,000.00 0.00 0.00 246,000.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 25 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Local Agency Investment Funds
SYS1012 1012 CA LAIF 1.217 53,955,914.68 37,250,000.00
Subtotal and Balance 19,685,608.38 53,955,914.68 37,250,000.00 36,391,523.06
Issuer Subtotal 26.672% 19,685,608.38 53,955,914.68 37,250,000.00 36,391,523.06
Issuer: LCA Bank Corp
Certificates of Deposit - Bank
Subtotal and Balance 246,000.00 246,000.00
Issuer Subtotal 0.180% 246,000.00 0.00 0.00 246,000.00
Issuer: LEGENDS BANK
Certificates of Deposit - Bank
52465JHT7 1618 LEGENDS BANK 1.000 03/30/2020 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: LIVE OAK BANKING COMPANY
Certificates of Deposit - Bank
538036KU7 1622 LIVE OAK BANKING COMPANY 1.100 03/31/2020 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 26 of ,821er. 7.3.6.1
Activity Report
Page 8
July 1, 2019 - June 30, 2020
Par Value
Par Value
Percent
Beginning Current Transaction
Purchases or
Redemptions or
Ending
CUSIP Investment # Issuer of Portfolio
Balance Rate Date
Deposits
Withdrawals
Balance
Issuer: Goldman Sachs Bank USA
Certificates of Deposit - Bank
Subtotal and Balance
245,000.00
245,000.00
Issuer Subtotal 0.180%
245,000.00
0.00
0.00
245,000.00
Issuer: Industrial & Comm Bank China
Certificates of Deposit - Bank
Subtotal and Balance
249,000.00
249,000.00
Issuer Subtotal 0.182%
249,000.00
0.00
0.00
249,000.00
Issuer: CA LAIF
Local Agency Investment Funds
SYS1012 1012 CA LAIF 1.217 53,955,914.68 37,250,000.00
Subtotal and Balance 19,685,608.38 53,955,914.68 37,250,000.00 36,391,523.06
Issuer Subtotal 26.672% 19,685,608.38 53,955,914.68 37,250,000.00 36,391,523.06
Issuer: LCA Bank Corp
Certificates of Deposit - Bank
Subtotal and Balance 246,000.00 246,000.00
Issuer Subtotal 0.180% 246,000.00 0.00 0.00 246,000.00
Issuer: LEGENDS BANK
Certificates of Deposit - Bank
52465JHT7 1618 LEGENDS BANK 1.000 03/30/2020 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: LIVE OAK BANKING COMPANY
Certificates of Deposit - Bank
538036KU7 1622 LIVE OAK BANKING COMPANY 1.100 03/31/2020 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 26 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Activity Report
Page 9
July
1, 2019 - June 30, 2020
Par Value
Par Value
Percent
Beginning
Current Transaction
Purchases or
Redemptions or
Ending
CUSIP Investment # Issuer of Portfolio
Balance
Rate Date
Deposits
Withdrawals
Balance
Issuer Subtotal
0.182%
0.00
249,000.00
0.00
249,000.00
Issuer: Marathon Savings Bank
Certificates of Deposit - Bank
56585YAB6 1532 Marathon Savings Bank
1.700 06/29/2020
0.00
245,000.00
Subtotal and Balance
245,000.00
0.00
245,000.00
0.00
Issuer Subtotal
0.000%
245,000.00
0.00
245,000.00
0.00
Issuer: Medallion Bank UT
Certificates of Deposit - Bank
Subtotal and Balance
249,000.00
249,000.00
Issuer Subtotal
0.182%
249,000.00
0.00
0.00
249,000.00
Issuer: Merrick Bank
Certificates of Deposit - Bank
Subtotal and Balance
249,000.00
249,000.00
Issuer Subtotal
0.182%
249,000.00
0.00
0.00
249,000.00
Issuer: MORGAN STANLEY PRIVATE BANK
Certificates of Deposit - Bank
Subtotal and Balance
246,000.00
246,000.00
Issuer Subtotal
0.180%
246,000.00
0.00
0.00
246,000.00
Issuer: MIDCOUNTRY BANK
Certificates of Deposit - Bank
59565QCS2 1617 MIDCOUNTRY BANK
1.000 03/27/2020
249,000.00
0.00
Subtotal and Balance
0.00
249,000.00
0.00
249,000.00
Issuer Subtotal
0.182%
0.00
249,000.00
0.00
249,000.00
Issuer: Morgan Stanley Bank
Certificates of Deposit - Bank
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07
DA (PRF_DA) 7.2.0
2020 -10 -14
Item #08D
Page 27 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Activity Report
July 1, 2019 - June 30, 2020
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSP Investment # Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Page 10
Ending
Balance
Subtotal and Balance 246,000.00 246,000.00
Issuer Subtotal 0.180% 246,000.00 0.00 0.00 246,000.00
Issuer: MARLIN BUSINESS BANK
Negotiable CDs
57116ASF6 1586 MARLIN BUSINESS BANK 2.800 01/28/2020 0.00 249,000.00
Subtotal and Balance 249,000.00 0.00 249,000.00 0.00
Issuer Subtotal 0.000% 249,000.00 0.00 249,000.00 0.00
Issuer: NICOLET NATIONAL BANK
Certificates of Deposit - Bank
654062JRO 1625 NICOLET NATIONAL BANK 1.150 03/31/2020 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: PACIFIC ENTERPRISE BANK
Certificates of Deposit - Bank
694231AD3 1621 PACIFIC ENTERPRISE BANK 1.150 03/30/2020 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: PADUCAH BANK AND TRUST
Certificates of Deposit - Bank
695292FP2 1613 PADUCAH BANK AND TRUST 1.650 11/08/2019 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: PEOPLES BANK /SARDIS TN
Certificates of Deposit - Bank
710673AC8 1624 PEOPLES BANK /SARDIS TN 1.000 03/31/2020 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 28 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Issuer: TIAA FSB
Certificates of Deposit - Bank
Subtotal and Balance 245,000.00 245,000.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 29 of ,821er. 7.3.6.1
Activity Report
Page 11
July
1, 2019 - June 30, 2020
Par Value
Par Value
Percent
Beginning
Current Transaction
Purchases or
Redemptions or
Ending
CUSP Investment # Issuer of Portfolio
Balance
Rate Date
Deposits
Withdrawals
Balance
Issuer: POPPY BANK
Certificates of Deposit - Bank
73319FAD1 1611 POPPY BANK
1.650 11/04/2019
249,000.00
0.00
Subtotal and Balance
0.00
249,000.00
0.00
249,000.00
Issuer Subtotal 0.182%
0.00
249,000.00
0.00
249,000.00
Issuer: REVERE BANK
Certificates of Deposit - Bank
Subtotal and Balance
247,000.00
247,000.00
Issuer Subtotal 0.181%
247,000.00
0.00
0.00
247,000.00
Issuer: Sallie Mae Bank /Murray
Certificates of Deposit - Bank
Subtotal and Balance
245,000.00
245,000.00
Issuer Subtotal 0.180%
245,000.00
0.00
0.00
245,000.00
Issuer: Synchrony Bank
Certificates of Deposit - Bank
87164YE136 1478 Synchrony Bank
2.000 10/17/2019
0.00
248,000.00
Subtotal and Balance
248,000.00
0.00
248,000.00
0.00
Issuer Subtotal 0.000%
248,000.00
0.00
248,000.00
0.00
Issuer: Texas Exchange Bank
Negotiable CDs
88241TCP3 1581 Texas Exchange Bank
3.250 07/29/2019
0.00
245,000.00
Subtotal and Balance
245,000.00
0.00
245,000.00
0.00
Issuer Subtotal 0.000%
245,000.00
0.00
245,000.00
0.00
Issuer: TIAA FSB
Certificates of Deposit - Bank
Subtotal and Balance 245,000.00 245,000.00
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 29 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Activity Report
July 1, 2019 - June 30, 2020
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSP Investment # Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Page 12
Ending
Balance
Issuer Subtotal 0.180% 245,000.00 0.00 0.00 245,000.00
Issuer: TRIAD BANK FRONTENAC MO
Certificates of Deposit - Bank
89579NCB7 1612 TRIAD BANK FRONTENAC MO 1.800 11/08/2019 249,000.00 0.00
Subtotal and Balance 0.00 249,000.00 0.00 249,000.00
Issuer Subtotal 0.182% 0.00 249,000.00 0.00 249,000.00
Issuer: Union Bank Checking Acct.
Passbook /Checking Accounts
SYS1010 1010 Union Bank Checking Acct. 43,041,787.89 41,108,289.68
Subtotal and Balance 1,819,981.91 43,041,787.89 41,108,289.68 3,753,480.12
Issuer Subtotal 2.751% 1,819,981.91 43,041,787.89 41,108,289.68 3,753,480.12
Issuer: Union Bank Custody Acct.
Money Market Funds
SYS1004 1004 Union Bank Custody Acct. 0.070 36,055,146.98 33,683,537.86
Subtotal and Balance 823,166.00 36,055,146.98 33,683,537.86 3,194,775.12
Issuer Subtotal 2.342% 823,166.00 36,055,146.98 33,683,537.86 3,194,775.12
Issuer: U.S. Treasury Notes
U.S. Treasury Coupon Securities
912828TH3 1510 U.S. Treasury Notes
0.875
07/31/2019
0.00
2,000,000.00
912828TNO 1515 U.S. Treasury Notes
1.000
09/03/2019
0.00
2,000,000.00
912828TV2 1516 U.S. Treasury Notes
1.250
10/31/2019
0.00
2,000,000.00
912828J50 1517 U.S. Treasury Notes
1.375
03/02/2020
0.00
2,000,000.00
912828J84 1518 U.S. Treasury Notes
1.375
03/31/2020
0.00
2,000,000.00
912828WW6 1577 U.S. Treasury Notes
1.625
07/31/2019
0.00
2,000,000.00
Subtotal and Balance
49,000,000.00
0.00
12,000,000.00 37,000,000.00
Issuer Subtotal 27.118%
49,000,000.00
0.00
12,000,000.00 37,000,000.00
Issuer: Wells Fargo Bank
Certificates of Deposit - Bank
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 30 of ,821er. 7.3.6.1
Percent
CUSIP Investment # Issuer of Portfolio
Issuer: Wells Fargo Bank
City of Encinitas - YTD Report
Activity Report
July 1, 2019 - June 30, 2020
Par Value
Beginning Current Transaction
Balance Rate Date
Par Value
Purchases or Redemptions or
Deposits Withdrawals
Page 13
Ending
Balance
Certificates of Deposit - Bank
Subtotal and Balance 245,000.00 245,000.00
Issuer Subtotal 0.180% 245,000.00 0.00 0.00 245,000.00
Issuer: Winter Hill Bank FSB
Certificates of Deposit - Bank
Subtotal and Balance 245,000.00 245,000.00
Issuer Subtotal 0.180% 245,000.00 0.00 0.00 245,000.00
Total 100.000% 134,788,580.81 137,911,895.25 136,260,827.54 136,439,648.52
Portfolio FY20
AC
Run Date: 09/1312020 - 15:07 DA (PRF_DA) 7.2.0
2020 -10 -14 Item #08D Page 31 of ,821er. 7.3.6.1
City of Encinitas - YTD Report
Portfolio Management
Interest Earnings Summary
June 30, 2020
June 301VIonth Ending
Fiscal Year To Date
CD /Coupon /Discount Investments:
Interest Collected 152,336.75 1,811,316.57
Plus Accrued Interest at End of Period 413,874.80 413,874.80
Less Accrued Interest at Beginning of Period ( 430,239.20) ( 477,936.08)
Less Accrued Interest at Purchase During Period ( 0.00) ( 37.86)
Interest Earned during Period 135,972.35 1,747,217.43
Adjusted by Premiums and Discounts 16,836.62 190,020.78
Adjusted by Capital Gains or Losses 0.00 - 367.50
Earnings during Periods 152,808.97 1,936,870.71
Page 1
Pass Through Securities:
Interest Collected
0.00
0.00
Plus Accrued Interest at End of Period
0.00
0.00
Less Accrued Interest at Beginning of Period
( 0.00)
( 0.00)
Less Accrued Interest at Purchase During Period
( 0.00)
( 0.00)
Interest Earned during Period
0.00
0.00
Adjusted by Premiums and Discounts
0.00
0.00
Adjusted by Capital Gains or Losses
0.00
0.00
Earnings during Periods
0.00
0.00
Cash /Checking Accounts:
Interest Collected 16,152.32 610,158.29
Plus Accrued Interest at End of Period 135,642.66 135,642.66
Less Accrued Interest at Beginning of Period ( 89,932.04) ( 247,164.44)
Interest Earned during Period 61,862.94 498,636.51
Total Interest Earned during Period 197,835.29 2,245,853.94
Total Adjustments from Premiums and Discounts 16,836.62 190,020.78
Total Capital Gains or Losses 0.00 - 367.50
Total Earnings during Period
214,671.91
2,435,507.22
Portfolio FY20
Data Updated: SET_ANNU: 09/13/2020 14:36 AC
Run Date: 09 /1312020 - P (P M6) 7.3.0
'�< 20 -10 -14 Item #08D Page 32 Re er.7.3.6.1
CUSIP Investment # Fund
Fund: General Investments
02006L3N1
1527
020080BUO
1619
02589AAM4
1580
06251AVV48
1585
06653ABM5
1533
05580AMB7
1562
SYS1003
1003
14042 RG N 5
1552
1404203Q1
1553
15118RSN8
1614
169894AN2
1529
17284C5K6
1487
17312QH69
1563
17670DAC8
1530
200056QRZ8
1595
17801 GSB7
1551
203522AT4
1610
20033AZK5
1571
20033AUE4
1525
SYS1584
1584
219255AK2
1623
15201 QCJ4
1620
249398BT4
1596
27002YE05
1594
29278TAU4
1568
29367SJQ8
1607
300185JF3
1615
33767GAMO
1608
3133EHN25
1606
3133EHST1
1591
3133EKNM4
1601
3133EHCT8
1536
City of Encinitas - YTD Report
Interest Earnings
Sorted by Fund - Issuer
July 1, 2019 - June 30, 2020
Yield on Beginning Book Value
Security Ending Beginning Ending Maturity Current Annualized
Type Par Value Book Value Book Value Date Rate Yield
CITY OF ENCINITAS
505 S. VULCAN
ENCINITAS, ENCINITAS, CA 9
(760)633 -2641
Adjusted Interest Earnings
Interest Amortization/ Adjusted Interest
Earned Accretion Earnings
001
BCD
0.00
245,000.00
0.00
06/22/2020
1.900
1.900
4,552.98
0.00
4,552.98
001
BCD
249,000.00
0.00
249,000.00
09/29/2023
0.900
0.900
564.85
0.00
564.85
001
BCD
245,000.00
245,000.00
245,000.00
06/26/2023
3.300
3.300
8,107.16
0.00
8,107.16
001
BCD
246,000.00
246,000.00
246,000.00
03/25/2024
2.900
2.900
7,153.55
0.00
7,153.55
001
BCD
245,000.00
245,000.00
245,000.00
06/30/2022
2.000
2.000
4,913.40
0.00
4,913.40
001
BCD
246,000.00
246,000.00
246,000.00
03/29/2023
2.900
2.900
7,153.55
0.00
7,153.55
001
LA1
1,068,671.50
1,049,403.32
1,068,671.50
0.510
1.670
17,576.29
0.00
17,576.29
001
BCD
245,000.00
245,000.00
245,000.00
07/19/2022
2.300
2.300
5,650.44
0.00
5,650.44
001
BCD
245,000.00
245,000.00
245,000.00
07/19/2022
2.300
2.300
5,650.44
0.00
5,650.44
001
NCB
249,000.00
0.00
249,000.00
10/30/2023
1.600
1.600
2,674.20
0.00
2,674.20
001
BCD
0.00
245,000.00
0.00
06/30/2020
1.700
1.700
4,165.01
0.00
4,165.01
001
BCD
0.00
248,000.00
0.00
12/10/2019
2.200
2.200
2,421.56
0.00
2,421.56
001
BCD
246,000.00
246,000.00
246,000.00
03/29/2023
2.850
2.850
7,030.21
0.00
7,030.21
001
BCD
245,000.00
245,000.00
245,000.00
12/30/2021
1.900
1.900
4,667.76
0.00
4,667.76
001
BCD
249,000.00
249,000.00
249,000.00
06/26/2024
2.300
2.300
5,742.66
0.00
5,742.66
001
BCD
245,000.00
245,000.00
245,000.00
02/03/2022
2.000
2.000
4,913.40
0.00
4,913.40
001
BCD
249,000.00
0.00
249,000.00
11/08/2024
1.650
1.650
2,645.18
0.00
2,645.18
001
BCD
245,000.00
245,000.00
245,000.00
06/29/2023
3.300
3.300
8,107.14
0.00
8,107.14
001
NCB
0.00
245,000.00
0.00
06/19/2020
1.750
1.290
1,397.84
0.00
1,397.84
001
LA1
4,158,198.72
4,048,421.20
4,158,198.72
5.102
2.041
82,873.94
0.00
82,873.94
001
BCD
249,000.00
0.00
249,000.00
03/29/2024
1.100
1.100
690.38
0.00
690.38
001
BCD
248,000.00
0.00
248,000.00
03/31/2025
1.000
1.000
631.89
0.00
631.89
001
BCD
249,000.00
249,000.00
249,000.00
06/21/2023
2.250
2.250
5,617.86
0.00
5,617.86
001
BCD
249,000.00
249,000.00
249,000.00
06/20/2024
2.300
2.300
5,742.66
0.00
5,742.66
001
BCD
246,000.00
246,000.00
246,000.00
03/29/2023
2.850
2.850
7,030.21
0.00
7,030.21
001
BCD
249,000.00
0.00
249,000.00
11/08/2024
1.800
1.800
2,885.65
0.00
2,885.65
001
BCD
249,000.00
0.00
249,000.00
03/26/2025
1.000
1.000
654.91
0.00
654.91
001
NCB
249,000.00
0.00
249,000.00
10/25/2024
1.850
1.850
3,117.30
0.00
3,117.30
001
FAC
2,000,000.00
2,039,457.30
2,025,180.83
11/01/2023
2.200
1.782
44,000.00
- 7,554.25
36,445.75
001
FAC
1,000,000.00
994,751.15
993,472.07
07/26/2023
2.010
2.228
20,100.00
2,126.75
22,226.75
001
FAC
2,000,000.00
2,026,187.28
2,014,201.40
02/28/2022
2.200
1.744
44,000.00
- 8,563.66
35,436.34
001
FAC
2,000,000.00
2,016,756.00
2,010,562.82
03/15/2022
2.150
1.820
43,000.00
- 6,193.18
36,806.82
Run Date: 09/13/20202b�20 -10 -1 w Item #08D
Portfolio FY20
AC
oR
Page 33 e der. 73.6.1
City of Encinitas - YTD Report
Interest Earnings Page 2
July 1, 2019 - June 30, 2020
Run Date: 09/13/20202b�20 -10.14 Item #08D
Portfolio FY20
AC
Page34 ofe _IE) 7.2.0
g er. 7.3.6.1
Adjusted Interest Earnings
Security
Ending
Beginning
Ending
Maturity
Current
Annualized
Interest
Amortization/
Adjusted Interest
CUSIP
Investment #
Fund
Type
Par Value
Book Value
Book Value
Date
Rate
Yield
Earned
Accretion
Earnings
Fund: General
Investments
3133EC4Q4
1558
001
FAC
2,000,000.00
1,944,259.65
1,960,680.70
11/23/2022
1.820
2.709
36,400.00
16,421.05
52,821.05
3133EHNX7
1534
001
FAC
2,000,000.00
1,997,189.58
1,998,614.58
06/21/2021
1.650
1.719
33,000.00
1,425.00
34,425.00
3133EKSN7
1605
001
FAC
4,000,000.00
3,995,404.01
3,996,557.01
06/26/2023
1.770
1.796
70,800.00
1,153.00
71,953.00
3133EDWW8
1600
001
FAC
1,000,000.00
1,031,528.20
1,017,860.93
10/06/2022
2.600
1.751
26,000.00
- 7,889.49
18,110.51
3133EJBP3
1590
001
FAC
2,000,000.00
2,027,446.65
2,014,284.30
02/02/2023
2.500
2.188
50,000.00
- 5,523.46
44,476.54
313383HU8
1513
001
FAC
0.00
2,009,691.89
0.00
06/12/2020
1.750
1.228
33,152.78
- 9,691.89
23,460.89
313OA8QS5
1524
001
FAC
2,000,000.00
1,974,070.87
1,986,805.51
07/14/2021
1.125
1.780
22,500.00
12,734.64
35,234.64
313378JP7
1575
001
FAC
2,000,000.00
1,986,413.34
1,992,612.58
09/10/2021
2.375
2.696
47,500.00
6,199.24
53,699.24
3130AEBM1
1573
001
FAC
2,000,000.00
1,998,285.07
1,998,868.05
06/10/2022
2.750
2.774
55,000.00
582.98
55,582.98
3130AABG2
1555
001
FAC
2,000,000.00
1,970,484.16
1,982,725.75
11/29/2021
1.875
2.517
37,500.00
12,241.59
49,741.59
3130AG3Y9
1588
001
FAC
2,000,000.00
2,011,086.53
2,006,110.06
02/15/2022
2.420
2.213
48,399.99
- 3,766.47
44,633.52
3137EAEB1
1559
001
FAC
0.00
1,998,740.71
0.00
07/19/2019
0.875
2.165
875.00
1,259.29
2,134.29
3134G9N94
1537
001
FAC
2,000,000.00
2,006,570.27
2,003,399.63
07/27/2021
1.875
1.706
37,500.00
- 3,170.64
34,329.36
3137EAEC9
1557
001
FAC
2,000,000.00
1,944,917.98
1,970,975.18
08/12/2021
1.125
2.490
22,500.00
26,057.20
48,557.20
3137EADR7
1512
001
FAC
0.00
2,003,907.02
0.00
05/01/2020
1.375
1.135
22,916.67
- 3,907.02
19,009.65
3134GSAX3
1560
001
FAC
2,000,000.00
1,979,681.12
1,986,454.08
07/01/2022
2.220
2.578
44,400.00
6,772.96
51,172.96
33763OBD8
1531
001
BCD
245,000.00
245,000.00
245,000.00
06/23/2021
1.900
1.900
4,667.77
0.00
4,667.77
3364OVDE5
1609
001
BCD
249,000.00
0.00
249,000.00
11/15/2023
1.700
1.700
2,644.20
0.00
2,644.20
313500043
1602
001
FAC
2,000,000.00
2,103,025.16
2,065,825.66
09/12/2023
2.875
1.750
57,500.00
- 20,588.39
36,911.61
3135GOT78
1603
001
FAC
1,000,000.00
1,012,696.09
1,005,682.81
10/05/2022
2.000
1.722
20,000.00
- 2,513.28
17,486.72
3135GOZY2
1507
001
FAC
0.00
2,000,811.64
0.00
11/26/2019
1.750
1.638
14,097.22
- 811.64
13,285.58
3135GOZG1
1506
001
FAC
0.00
2,000,588.23
0.00
09/12/2019
1.750
1.578
6,902.78
- 588.23
6,314.55
3135GOT78
1589
001
FAC
2,000,000.00
1,988,130.38
1,991,770.13
10/05/2022
2.000
2.189
40,000.00
3,639.75
43,639.75
3495FTCB3
1587
001
NCB
0.00
249,000.00
0.00
03/29/2024
2.800
2.800
4,049.48
0.00
4,049.48
34969RCS5
1616
001
BCD
249,000.00
0.00
249,000.00
03/27/2024
1.000
1.000
648.09
0.00
648.09
336460CQ1
1598
001
BCD
249,000.00
249,000.00
249,000.00
06/28/2024
2.300
2.300
5,742.66
0.00
5,742.66
33646CJPO
1569
001
BCD
246,000.00
246,000.00
246,000.00
04/11/2023
2.850
2.850
7,030.20
0.00
7,030.20
38148PKX4
1528
001
BCD
245,000.00
245,000.00
245,000.00
06/21/2022
2.350
2.350
5,773.28
0.00
5,773.28
45581EASO
1564
001
BCD
249,000.00
249,000.00
249,000.00
03/29/2023
2.900
2.900
7,240.79
0.00
7,240.79
SYS1012
1012
001
LA5
36,391,523.06
19,685,608.38
36,391,523.06
1.217
1.906
376,144.47
0.00
376,144.47
501798LT7
1566
001
BCD
246,000.00
246,000.00
246,000.00
03/29/2023
2.800
2.800
6,906.87
0.00
6,906.87
52465JHT7
1618
001
BCD
249,000.00
0.00
249,000.00
09/30/2024
1.000
1.000
627.62
0.00
627.62
538036KU7
1622
001
BCD
249,000.00
0.00
249,000.00
03/31/2025
1.100
1.100
690.38
0.00
690.38
56585YAB6
1532
001
BCD
0.00
245,000.00
0.00
06/29/2020
1.700
1.700
4,153.60
0.00
4,153.60
58404DBL4
1561
001
BCD
249,000.00
249,000.00
249,000.00
03/28/2023
2.900
2.900
7,240.79
0.00
7,240.79
59013KAR7
1597
001
BCD
249,000.00
249,000.00
249,000.00
12/28/2023
2.400
2.400
5,992.38
0.00
5,992.38
61760AG52
1593
001
BCD
246,000.00
246,000.00
246,000.00
06/13/2024
2.600
2.600
6,413.52
0.00
6,413.52
59565QCS2
1617
001
BCD
249,000.00
0.00
249,000.00
03/27/2025
1.000
1.000
648.09
0.00
648.09
61747MR37
1565
001
BCD
246,000.00
246,000.00
246,000.00
03/29/2023
2.900
2.900
7,153.55
0.00
7,153.55
57116ASF6
1586
001
NCB
0.00
249,000.00
0.00
03/28/2024
2.800
2.800
4,030.38
0.00
4,030.38
Run Date: 09/13/20202b�20 -10.14 Item #08D
Portfolio FY20
AC
Page34 ofe _IE) 7.2.0
g er. 7.3.6.1
City of Encinitas - YTD Report
Interest Earnings Page 3
July 1, 2019 - June 30, 2020
Run Date: 09/13/20202b�20 -10.1 w Item #08D
Portfolio FY20
AC
oR
Page 35 e der. 73.6.1
Adjusted Interest Earnings
Security
Ending
Beginning
Ending
Maturity
Current
Annualized
Interest
Amortization/
Adjusted Interest
CUSIP
Investment #
Fund
Type
Par Value
Book Value
Book Value
Date
Rate
Yield
Earned
Accretion
Earnings
Fund: General Investments
654062JRO
1625
001
BCD
249,000.00
0.00
249,000.00
03/28/2024
1.150
1.150
713.92
0.00
713.92
694231AD3
1621
001
BCD
249,000.00
0.00
249,000.00
03/31/2025
1.150
1.150
721.76
0.00
721.76
695292FP2
1613
001
BCD
249,000.00
0.00
249,000.00
11/08/2024
1.650
1.650
2,645.18
0.00
2,645.18
710673AC8
1624
001
BCD
249,000.00
0.00
249,000.00
09/30/2024
1.000
1.000
620.80
0.00
620.80
73319FAD1
1611
001
BCD
249,000.00
0.00
249,000.00
11/04/2024
1.650
1.650
2,690.21
0.00
2,690.21
761400BY1
1599
001
BCD
247,000.00
247,000.00
247,000.00
06/28/2024
2.300
2.300
5,696.56
0.00
5,696.56
79545OS89
1570
001
BCD
245,000.00
245,000.00
245,000.00
06/27/2023
3.300
3.300
8,107.16
0.00
8,107.16
87164YEB6
1478
001
BCD
0.00
248,000.00
0.00
10/17/2019
2.000
2.000
1,467.61
0.00
1,467.61
88241TCP3
1581
001
NCB
0.00
245,000.00
0.00
06/29/2023
3.250
3.250
610.82
0.00
610.82
87270LAD5
1554
001
BCD
245,000.00
245,000.00
245,000.00
07/19/2022
2.150
2.150
5,281.93
0.00
5,281.93
89579NCB7
1612
001
BCD
249,000.00
0.00
249,000.00
11/08/2024
1.800
1.800
2,885.65
0.00
2,885.65
SYS1010
1010
001
PA1
3,753,480.12
1,819,981.91
3,753,480.12
0.00
0.00
0.00
SYS1004
1004
001
LA3
3,194,775.12
823,166.00
3,194,775.12
0.070
2.670
22,041.81
0.00
22,041.81
912828XQB
1578
001
TRC
4,000,000.00
3,918,146.72
3,944,752.67
07/31/2022
2.000
2.714
80,036.42
26,605.95
106,642.37
9128282J8
1583
001
TRC
2,000,000.00
1,979,230.64
1,999,234.81
07/15/2020
1.500
2.520
30,006.37
20,004.17
50,010.54
9128282W9
1579
001
TRC
2,000,000.00
1,949,016.94
1,964,737.07
09/30/2022
1.875
2.723
37,500.00
15,720.13
53,220.13
912828WW6
1577
001
TRC
0.00
1,998,804.69
0.00
07/31/2019
1.625
2.367
2,693.37
1,195.31
3,888.68
912828F96
1574
001
TRC
2,000,000.00
1,971,120.58
1,983,511.98
10/31/2021
2.000
2.651
40,000.00
12,391.40
52,391.40
912828T34
1556
001
TRC
2,000,000.00
1,939,932.27
1,966,677.76
09/30/2021
1.125
2.532
22,500.00
26,745.49
49,245.49
9128282D1
1604
001
TRC
2,000,000.00
1,980,473.55
1,978,471.68
08/31/2023
1.375
1.728
27,500.00
6,816.06
34,316.06
912828S92
1592
001
TRC
3,000,000.00
2,897,360.44
2,918,256.73
07/31/2023
1.250
2.207
37,517.07
26,593.80
64,110.87
912828L24
1572
001
TRC
2,000,000.00
1,950,276.28
1,966,005.65
08/31/2022
1.875
2.722
37,500.00
15,729.37
53,229.37
912828VP2
1576
001
TRC
2,000,000.00
1,988,852.81
1,999,155.52
07/31/2020
2.000
2.523
40,018.22
10,302.71
50,320.93
912828P87
1539
001
TRC
2,000,000.00
1,984,414.62
1,993,796.61
02/28/2021
1.125
1.602
22,500.00
9,381.99
31,881.99
912828J84
1518
001
TRC
0.00
2,002,968.41
0.00
03/31/2020
1.375
1.172
20,587.43
- 2,968.41
17,619.02
912828L65
1521
001
TRC
2,000,000.00
1,994,718.63
1,998,948.35
09/30/2020
1.375
1.586
27,500.00
4,229.72
31,729.72
912828L32
1520
001
TRC
2,000,000.00
1,995,370.59
1,999,338.66
08/31/2020
1.375
1.573
27,500.00
3,968.07
31,468.07
912828J50
1517
001
TRC
0.00
2,002,775.49
0.00
02/29/2020
1.375
1.165
18,308.42
- 2,775.49
15,532.93
912828TV2
1516
001
TRC
0.00
2,001,169.43
0.00
10/31/2019
1.250
1.064
8,288.04
- 1,169.43
7,118.61
912828TH3
1510
001
TRC
0.00
1,999,485.88
0.00
07/31/2019
0.875
1.195
1,450.28
514.12
1,964.40
912828TNO
1515
001
TRC
0.00
1,999,863.38
0.00
08/31/2019
1.000
1.033
3,315.22
136.62
3,451.84
912828XM7
1514
001
TRC
2,000,000.00
2,010,048.75
2,000,761.27
07/31/2020
1.625
1.152
32,514.80
- 9,287.48
23,227.32
912828L99
1522
001
TRC
2,000,000.00
1,993,730.86
1,998,432.71
10/31/2020
1.375
1.611
27,500.00
4,701.85
32,201.85
912828S76
1523
001
TRC
2,000,000.00
1,973,680.33
1,986,338.67
07/31/2021
1.125
1.777
22,510.24
12,658.34
35,168.58
912828A42
1538
001
TRC
2,000,000.00
2,011,904.48
2,003,493.21
11/30/2020
2.000
1.566
40,000.00
- 8,411.27
31,588.73
912828Q37
1540
001
TRC
2,000,000.00
1,987,628.69
1,994,714.60
03/31/2021
1.250
1.610
25,000.00
7,085.91
32,085.91
949763JG2
1535
001
BCD
245,000.00
245,000.00
245,000.00
06/30/2022
2.250
2.250
5,527.56
0.00
5,527.56
975875AK1
1526
001
BCD
245,000.00
245,000.00
245,000.00
06/28/2021
1.800
1.800
4,422.11
0.00
4,422.11
Subtotal
136,439,648.52
134,381,635.55
136,158,920.55
1.984
2,245,853.94
190,020.78
2,435,874.72
Run Date: 09/13/20202b�20 -10.1 w Item #08D
Portfolio FY20
AC
oR
Page 35 e der. 73.6.1
Security Ending
CUSIP Investment # Fund Type Par Value
City of Encinitas - YTD Report
Interest Earnings
July 1, 2019 - June 30, 2020
Beginning Ending Maturity Current Annualized
Book Value Book Value Date Rate Yield
Total 136, 439, 648.52 134, 3 81, 63 5.55 136,158, 920.55
Run Date: 09/13/20202b�20 -10.1 w Item #08D
Page 4
Adjusted Interest Earnings
Interest Amortization/ Adjusted Interest
Earned Accretion Earnings
1.984 2,245,853.94 190,020.78 2,435,874.72
Total Capital Gains or Losses (367.50)
Total Earnings 2.435,507.22
Portfolio FY20
AC
oR
Page 36 e der. 73.6.1
CITY OF ENCINITAS
City of Encinitas - YTD Report 505 S. VULCAN
Purchases Report ENCINITAS, ENCINITAS, CA 9
(760)633 -2641
Sorted by Security Type - Purchase Date
July 1, 2019 - June 30, 2020
Subtotal 4,232,000.00 4,232,000.00 0.00 4,232,000.00
Negotiable CDs
33767GAMO 1608 001 NCB FBPR 249,000.00 10/28/2019 11/25 - Monthly 249,000.00 Received 1.850 10/25/2024 1.852 249,000.00
15118RSN8 1614 001 NCB CELTIC 249,000.00 10/30/2019 11/30 -Monthly 249,000.00 1.600 10/30/2023 1.601 249,000.00
Subtotal
Total Purchases
Received = Accrued Interest at Purchase was received by report ending date.
498,000.00
4,730,000.00
Run Date: 09/13/2020 - 15:37
2020 -10 -14 Item #08D
498, 000.00 0.00 498, 000.00
4,730,000.00 0.00 4,730,000.00
Portfolio FY20
AC
PU (PRF_PU) 7.1.1
Page 37 ofR82ver.7.3.6.1
Sec.
Original
Purchase
Principal
Accrued Interest Rate at
Maturity
Ending
CUSIP
Investment #
Fund
Type Issuer
Par Value
Date Payment Periods
Purchased
at Purchase Purchase
Date
YTM
Book Value
Certificates of Deposit - Bank
73319FAD1
1611
001
BCD POPBK
249,000.00
11/04/201912/04 - Monthly
249,000.00
1.650
11/04/2024
1.650
249,000.00
203522AT4
1610
001
BCD COMMBK
249,000.00
11/08/201912/08 - Monthly
249,000.00
1.650
11/08/2024
1.650
249,000.00
29367SJQ8
1607
001
BCD ENTERB
249,000.00
11/08/201912/08 - Monthly
249,000.00
1.800
11/08/2024
1.800
249,000.00
695292FP2
1613
001
BCD PADUCA
249,000.00
11/08/201912/08 - Monthly
249,000.00
1.650
11/08/2024
1.650
249,000.00
89579NCB7
1612
001
BCD TRIADB
249,000.00
11/08/201912/08 - Monthly
249,000.00
1.800
11/08/2024
1.800
249,000.00
33640VDE5
1609
001
BCD FIRSTS
249,000.00
11/15/201912/15 - Monthly
249,000.00
1.700
11/15/2023
1.700
249,000.00
300185JF3
1615
001
BCD EVRGRN
249,000.00
03/26/2020 04/26 - Monthly
249,000.00
1.000
03/26/2025
1.000
249,000.00
34969RCS5
1616
001
BCD FORTUB
249,000.00
03/27/2020 04/27 - Monthly
249,000.00
1.000
03/27/2024
1.000
249,000.00
59565QCS2
1617
001
BCD MIDCBK
249,000.00
03/27/2020 04/27 - Monthly
249,000.00
1.000
03/27/2025
1.000
249,000.00
020080BUO
1619
001
BCD ALMABK
249,000.00
03/30/2020 04/30 - Monthly
249,000.00
0.900
09/29/2023
0.900
249,000.00
219255AK2
1623
001
BCD CRNHSK
249,000.00
03/30/2020 04/30 - Monthly
249,000.00
1.100
03/29/2024
1.100
249,000.00
15201QCJ4
1620
001
BCD CTRSTE
248,000.00
03/30/202009/30 -03/30
248,000.00
1.000
03/31/2025
1.000
248,000.00
52465JHT7
1618
001
BCD LEGEND
249,000.00
03/30/2020 04/30 - Monthly
249,000.00
1.000
09/30/2024
1.000
249,000.00
694231AD3
1621
001
BCD PACENT
249,000.00
03/30 /202004 /30- Monthly
249,000.00
1.150
03/31/2025
1.150
249,000.00
538036KU7
1622
001
BCD LIVOAK
249,000.00
03/31/2020 05/01 - Monthly
249,000.00
1.100
03/31/2025
1.100
249,000.00
654062JRO
1625
001
BCD NCBS
249,000.00
03/31/2020 04/30 - Monthly
249,000.00
1.150
03/28/2024
1.150
249,000.00
710673AC8
1624
001
BCD PEBATN
249,000.00
03/31/2020 04/30 - Monthly
249,000.00
1.000
09/30/2024
1.000
249,000.00
Subtotal 4,232,000.00 4,232,000.00 0.00 4,232,000.00
Negotiable CDs
33767GAMO 1608 001 NCB FBPR 249,000.00 10/28/2019 11/25 - Monthly 249,000.00 Received 1.850 10/25/2024 1.852 249,000.00
15118RSN8 1614 001 NCB CELTIC 249,000.00 10/30/2019 11/30 -Monthly 249,000.00 1.600 10/30/2023 1.601 249,000.00
Subtotal
Total Purchases
Received = Accrued Interest at Purchase was received by report ending date.
498,000.00
4,730,000.00
Run Date: 09/13/2020 - 15:37
2020 -10 -14 Item #08D
498, 000.00 0.00 498, 000.00
4,730,000.00 0.00 4,730,000.00
Portfolio FY20
AC
PU (PRF_PU) 7.1.1
Page 37 ofR82ver.7.3.6.1
Managed Pool Accounts
SYS1003 1003 LA1 1,068,671.50 0.510 2,141.27 0.00 17,576.29
SYS1584 1584 LA1 4,158,198.72 5.102 44,293.08 0.00 82,873.94
Subtotal 5,226,870.22 46,434.35 0.00 100,450.23
Money Market Funds
SYS1004 1004 LA3
Subtotal
3,194,775.12
3,194,775.12
0.070
3,370.95
3,370.95
0.00 22,041.81
0.00 22,041.81
Certificates
of Deposit - Bank
0.00
2,421.56
2,735.47
CITY OF ENCINITAS
4,552.98
4,667.76
87164YEB6
City of Encinitas - YTD Report
BCD
0.00
505 S. VULCAN
2.000
1,019.18
0.00
Accrued Interest
1487
ENCINITAS,
ENCINITAS, CA 9
12/10/2019
2.200
313.91
0.00
02006L3N1
1527
(760)633 -2641
r
06/22/2020
1.900
Sorted by Security Type - Maturity Date
0.00
56585YAB6
1532
BCD
0.00
06/29/2020
July 1, 2019 - June 30, 2020
34.23
0.00
169894AN2
1529
BCD
0.00
Adjusted Acc'd Int.
1.700
365.15
0.00
337630BD8
Security
Par
Maturity Current * Beginning at Purchase
Interest
Interest
" Ending
CUSIP Investment #
Type
Value
Date Rate Accrued Interest During Period
Earned
Received
Accrued Interest
Local Agency Investment Funds
0.00
17670DACB
1530
BCD
245,000.00
12/30/2021
SYS1012 1012
LA5
36,391,523.06
1.217 197,359.12 0.00
376,144.47
455,914.68
117,588.91
02/03/2022
Subtotal
36,391,523.06
197,359.12 0.00
376,144.47
455,914.68
117,588.91
Managed Pool Accounts
SYS1003 1003 LA1 1,068,671.50 0.510 2,141.27 0.00 17,576.29
SYS1584 1584 LA1 4,158,198.72 5.102 44,293.08 0.00 82,873.94
Subtotal 5,226,870.22 46,434.35 0.00 100,450.23
Money Market Funds
SYS1004 1004 LA3
Subtotal
3,194,775.12
3,194,775.12
0.070
3,370.95
3,370.95
0.00 22,041.81
0.00 22,041.81
Certificates
of Deposit - Bank
0.00
2,421.56
2,735.47
0.00
4,552.98
4,667.76
87164YEB6
1478
BCD
0.00
10/17/2019
2.000
1,019.18
0.00
17284C5K6
1487
BCD
0.00
12/10/2019
2.200
313.91
0.00
02006L3N1
1527
BCD
0.00
06/22/2020
1.900
114.78
0.00
56585YAB6
1532
BCD
0.00
06/29/2020
1.700
34.23
0.00
169894AN2
1529
BCD
0.00
06/30/2020
1.700
365.15
0.00
337630BD8
1531
BCD
245,000.00
06/23/2021
1.900
102.03
0.00
975875AK1
1526
BCD
245,000.00
06/28/2021
1.800
60.41
0.00
17670DACB
1530
BCD
245,000.00
12/30/2021
1.900
408.12
0.00
17801 GSB7
1551
BCD
245,000.00
02/03/2022
2.000
375.90
0.00
38148PKX4
1528
BCD
245,000.00
06/21/2022
2.350
157.74
0.00
06653ABM5
1533
BCD
245,000.00
06/30/2022
2.000
429.58
0.00
949763JG2
1535
BCD
245,000.00
06/30/2022
2.250
483.18
0.00
14042RGN5
1552
BCD
245,000.00
07/19/2022
2.300
2,516.45
0.00
1404203Q1
1553
BCD
245,000.00
07/19/2022
2.300
2,516.45
0.00
87270LAD5
1554
BCD
245,000.00
07/19/2022
2.150
2,352.33
0.00
58404DBL4
1561
BCD
249,000.00
03/28/2023
2.900
59.35
0.00
05580AMB7
1562
BCD
246,000.00
03/29/2023
2.900
1,837.25
0.00
17312QH69
1563
BCD
246,000.00
03/29/2023
2.850
1,805.57
0.00
29278TAU4
1568
BCD
246,000.00
03/29/2023
2.850
1,805.57
0.00
45581EASO
1564
BCD
249,000.00
03/29/2023
2.900
652.85
0.00
501798LT7
1566
BCD
246,000.00
03/29/2023
2.800
1,773.90
0.00
61747MR37
1565
BCD
246,000.00
03/29/2023
2.900
1,837.25
0.00
33646CJPO
1569
BCD
246,000.00
04/11/2023
2.850
1,555.86
0.00
249398BT4
1596
BCD
249,000.00
06/21/2023
2.250
138.14
0.00
Beginning Accrued may not include investments that redeemed in the previous month that had outstanding accrued interest
Run Date: 09/13/20204,Q ?0 -10 -1 " Item #08D
19,268.18
109,777.52
129,045.70
25,197.91
25,197.91
449.38
17, 389.50
17,838.88
214.85
214.85
1,467.61
2,486.79
0.00
2,421.56
2,735.47
0.00
4,552.98
4,667.76
0.00
4,153.60
4,187.83
0.00
4,165.01
4,530.16
0.00
4,667.77
4,667.77
102.03
4,422.11
4,422.11
60.41
4,667.76
5,063.12
12.76
4,913.40
4,913.40
375.90
5,773.28
5,773.28
157.74
4,913.40
5,329.56
13.42
5,527.56
5,995.81
14.93
5,650.44
5,635.00
2,531.89
5,650.44
5,635.00
2,531.89
5,281.93
5,267.50
2,366.76
7,240.79
7,240.79
59.35
7,153.55
7,153.55
1,837.25
7,030.21
7,030.21
1,805.57
7,030.21
7,030.21
1,805.57
7,240.79
7,854.08
39.56
6,906.87
6,906.87
1,773.90
7,153.55
7,153.55
1,837.25
7,030.20
7,030.20
1,555.86
5,617.86
5,617.86
138.14
Portfolio FY20
Page 38 of,, A,)7.28
Q;
Report Ver. 7.3.6.1
City of Encinitas - YTD Report
Accrued Interest
Sorted by Security Type - Maturity Date Page 2
* Beginning Accrued may not include investments that redeemed in the previous month that had outstanding accrued interest.
Run Date: 09/13/202045'1 ?O -1 0-14 Item #08D
Portfolio FY20
Page 39 of,, A,)7.28
Q;
Report Ver. 7.3.6.1
Adjusted Acc'd Int.
Security
Par
Maturity
Current
* Beginning
at Purchase
Interest
Interest
* Ending
CUSIP
Investment #
Type
Value
Date
Rate
Accrued Interest
During Period
Earned
Received
Accrued Interest
Certificates of Deposit
- Bank
02589AAM4
1580
BCD
245,000.00
06/26/2023
3.300
110.75
0.00
8,107.16
8,107.16
110.75
795450589
1570
BCD
245,000.00
06/27/2023
3.300
88.60
0.00
8,107.16
8,107.16
88.60
20033AZK5
1571
BCD
245,000.00
06/29/2023
3.300
730.97
0.00
8,107.14
8,793.81
44.30
020080BUO
1619
BCD
249,000.00
09/29/2023
0.900
0.00
0.00
564.85
564.85
0.00
33640VDE5
1609
BCD
249,000.00
11/15/2023
1.700
0.00
0.00
2,644.20
2,470.24
173.96
59013KAR7
1597
BCD
249,000.00
12/28/2023
2.400
32.75
0.00
5,992.38
5,992.38
32.75
06251AW48
1585
BCD
246,000.00
03/25/2024
2.900
1,915.43
0.00
7,153.55
7,153.55
1,915.43
34969RCS5
1616
BCD
249,000.00
03/27/2024
1.000
0.00
0.00
648.09
627.62
20.47
654062JRO
1625
BCD
249,000.00
03/28/2024
1.150
0.00
0.00
713.92
721.76
-7.84
219255AK2
1623
BCD
249,000.00
03/29/2024
1.100
0.00
0.00
690.38
690.38
0.00
61760AG52
1593
BCD
246,000.00
06/13/2024
2.600
315.42
0.00
6,413.52
6,413.52
315.42
27002YEQ5
1594
BCD
249,000.00
06/20/2024
2.300
156.90
0.00
5,742.66
5,742.66
156.90
200056QRZ8
1595
BCD
249,000.00
06/26/2024
2.300
62.76
0.00
5,742.66
5,742.66
62.76
336460CQ1
1598
BCD
249,000.00
06/28/2024
2.300
31.38
0.00
5,742.66
5,742.66
31.38
761400BY1
1599
BCD
247,000.00
06/28/2024
2.300
46.69
0.00
5,696.56
5,696.56
46.69
52465JHT7
1618
BCD
249,000.00
09/30/2024
1.000
0.00
0.00
627.62
627.62
0.00
710673AC8
1624
BCD
249,000.00
09/30/2024
1.000
0.00
0.00
620.80
627.62
-6.82
73319FAD1
1611
BCD
249,000.00
11/04/2024
1.650
0.00
0.00
2,690.21
2,397.55
292.66
203522AT4
1610
BCD
249,000.00
11/08/2024
1.650
0.00
0.00
2,645.18
2,397.55
247.63
29367SJQ8
1607
BCD
249,000.00
11/08/2024
1.800
0.00
0.00
2,885.65
2,615.50
270.15
695292FP2
1613
BCD
249,000.00
11/08/2024
1.650
0.00
0.00
2,645.18
2,397.55
247.63
89579NCB7
1612
BCD
249,000.00
11/08/2024
1.800
0.00
0.00
2,885.65
2,615.50
270.15
300185JF3
1615
BCD
249,000.00
03/26/2025
1.000
0.00
0.00
654.91
627.62
27.29
59565QCS2
1617
BCD
249,000.00
03/27/2025
1.000
0.00
0.00
648.09
627.62
20.47
15201QCJ4
1620
BCD
248,000.00
03/31/2025
1.000
0.00
0.00
631.89
0.00
631.89
538036KU7
1622
BCD
249,000.00
03/31/2025
1.100
0.00
0.00
690.38
472.76
217.62
694231AD3
1621
BCD
249,000.00
03/31/2025
1.150
0.00
0.00
721.76
721.76
0.00
Subtotal
11,375,000.00
26,206.83
0.00
221,047.09
223,023.50
24,230.42
Negotiable CDs
20033AUE4
1525
NCB
0.00
06/19/2020
1.750
140.96
0.00
1,397.84
1,538.80
0.00
88241TCP3
1581
NCB
0.00
06/29/2023
3.250
719.90
0.00
610.82
1,330.72
0.00
15118RSN8
1614
NCB
249,000.00
10/30/2023
1.600
0.00
0.00
2,674.20
2,663.28
10.92
57116ASF6
1586
NCB
0.00
03/28/2024
2.800
57.30
0.00
4,030.38
4,087.68
0.00
3495FTCB3
1587
NCB
0.00
03/29/2024
2.800
630.34
0.00
4,049.48
4,679.82
0.00
33767GAMO
1608
NCB
249,000.00
10/25/2024
1.850
0.00
0.00
3,117.30
3,041.58
75.72
Subtotal
498,000.00
1,548.50
0.00
15,880.02
17,341.88
86.64
U.S. Treasury Coupon Securities
912828TH3
1510
TRC
0.00
07/31/2019
0.875
7,299.72
0.00
1,450.28
8,750.00
0.00
912828WW6
1577
TRC
0.00
07/31/2019
1.625
13,556.63
0.00
2,693.37
16,250.00
0.00
* Beginning Accrued may not include investments that redeemed in the previous month that had outstanding accrued interest.
Run Date: 09/13/202045'1 ?O -1 0-14 Item #08D
Portfolio FY20
Page 39 of,, A,)7.28
Q;
Report Ver. 7.3.6.1
City of Encinitas - YTD Report
Accrued Interest
CUSIP
Investment #
Security
Type
Par
Value
Sorted by Security Type - Maturity Date
Adjusted Acc'd Int.
Maturity Current * Beginning at Purchase
Date Rate Accrued Interest During Period
Interest
Earned
Interest
Received
Page 3
* Ending
Accrued Interest
U.S. Treasury Coupon Securities
912828TNO
1515
TRC
0.00
08/31/2019
1.000
6,684.78
0.00
3,315.22
10,000.00
0.00
912828TV2
1516
TRC
0.00
10/31/2019
1.250
4,211.96
0.00
8,288.04
12,500.00
0.00
912828J50
1517
TRC
0.00
02/29/2020
1.375
9,191.58
0.00
18,308.42
27,500.00
0.00
912828J84
1518
TRC
0.00
03/31/2020
1.375
6,912.57
0.00
20,587.43
27,500.00
0.00
9128282J8
1583
TRC
2,000,000.00
07/15/2020
1.500
13,839.78
0.00
30,006.37
30,000.00
13,846.15
912828XM7
1514
TRC
2,000,000.00
07/31/2020
1.625
13,556.63
0.00
32,514.80
32,500.00
13,571.43
912828VP2
1576
TRC
2,000,000.00
07/31/2020
2.000
16,685.08
0.00
40,018.22
40,000.00
16,703.30
912828L32
1520
TRC
2,000,000.00
08/31/2020
1.375
9,191.58
0.00
27,500.00
27,500.00
9,191.58
912828L65
1521
TRC
2,000,000.00
09/30/2020
1.375
6,912.57
0.00
27,500.00
27,500.00
6,912.57
912828L99
1522
TRC
2,000,000.00
10/31/2020
1.375
4,633.15
0.00
27,500.00
27,500.00
4,633.15
912828A42
1538
TRC
2,000,000.00
11/30/2020
2.000
3,387.98
0.00
40,000.00
40,000.00
3,387.98
912828P87
1539
TRC
2,000,000.00
02/28/2021
1.125
7,520.38
0.00
22,500.00
22,500.00
7,520.38
912828Q37
1540
TRC
2,000,000.00
03/31/2021
1.250
6,284.15
0.00
25,000.00
25,000.00
6,284.15
912828S76
1523
TRC
2,000,000.00
07/31/2021
1.125
9,385.36
0.00
22,510.24
22,500.00
9,395.60
912828T34
1556
TRC
2,000,000.00
09/30/2021
1.125
5,655.74
0.00
22,500.00
22,500.00
5,655.74
912828F96
1574
TRC
2,000,000.00
10/31/2021
2.000
6,739.13
0.00
40,000.00
40,000.00
6,739.13
912828XQB
1578
TRC
4,000,000.00
07/31/2022
2.000
33,370.17
0.00
80,036.42
80,000.00
33,406.59
912828L24
1572
TRC
2,000,000.00
08/31/2022
1.875
12,533.97
0.00
37,500.00
37,500.00
12,533.97
9128282W9
1579
TRC
2,000,000.00
09/30/2022
1.875
9,426.23
0.00
37,500.00
37,500.00
9,426.23
912828S92
1592
TRC
3,000,000.00
07/31/2023
1.250
9,944.76
0.00
37,517.07
31,802.49
15,659.34
9128282D1
1604
TRC
2,000,000.00
08/31/2023
1.375
373.65
0.00
27,500.00
18,682.07
9,191.58
Subtotal
37,000,000.00
217,297.55
0.00
632,245.88
665,484.56
184,058.87
Federal Agency Coupon Securities
3137EAEB1
1559
FAC
0.00
07/19/2019
0.875
7,875.00
0.00
875.00
8,750.00
0.00
3135GOZG1
1506
FAC
0.00
09/12/2019
1.750
10,597.22
0.00
6,902.78
17,500.00
0.00
3135GOZY2
1507
FAC
0.00
11/26/2019
1.750
3,402.78
0.00
14,097.22
17,500.00
0.00
3137EADR7
1512
FAC
0.00
05/01/2020
1.375
4,583.33
0.00
22,916.67
27,500.00
0.00
313383HU8
1513
FAC
0.00
06/12/2020
1.750
1,847.22
0.00
33,152.78
35,000.00
0.00
3133EHNX7
1534
FAC
2,000,000.00
06/21/2021
1.650
916.67
0.00
33,000.00
33,000.00
916.67
313OA8QS5
1524
FAC
2,000,000.00
07/14/2021
1.125
10,437.50
0.00
22,500.00
22,500.00
10,437.50
3134G9N94
1537
FAC
2,000,000.00
07/27/2021
1.875
16,041.67
0.00
37,500.00
37,500.00
16,041.67
3137EAEC9
1557
FAC
2,000,000.00
08/12/2021
1.125
8,687.50
0.00
22,500.00
22,500.00
8,687.50
313378JP7
1575
FAC
2,000,000.00
09/10/2021
2.375
15,305.55
0.00
47,500.00
47,500.00
15,305.55
3130AABG2
1555
FAC
2,000,000.00
11/29/2021
1.875
3,333.33
0.00
37,500.00
37,500.00
3,333.33
3130AG3Y9
1588
FAC
2,000,000.00
02/15/2022
2.420
12,637.78
0.00
48,399.99
42,753.33
18,284.44
3133EKNM4
1601
FAC
2,000,000.00
02/28/2022
2.200
611.11
0.00
44,000.00
29,577.78
15,033.33
3133EHCT8
1536
FAC
2,000,000.00
03/15/2022
2.150
12,661.11
0.00
43,000.00
43,000.00
12,661.11
3130AEBM1
1573
FAC
2,000,000.00
06/10/2022
2.750
3,208.33
0.00
55,000.00
55,000.00
3,208.33
3134GSAX3
1560
FAC
2,000,000.00
07/01/2022
2.220
22,200.00
0.00
44,400.00
44,400.00
22,200.00
3135GOT78
1589
FAC
2,000,000.00
10/05/2022
2.000
9,555.56
0.00
40,000.00
40,000.00
9,555.56
* Beginning Accrued may not include investments that redeemed in the previous month that had outstanding accrued interest.
Run Date: 09/13/202045'1 ?O -1 0-14 Item #08D
Portfolio FY20
Page 40 of,, A,)7.28
Q;
Report Ver. 7.3.6.1
City of Encinitas - YTD Report
Accrued Interest
Sorted by Security Type - Maturity Date
Page 4
Subtotal 39,000,000.00
Total
132,686,168.40
169,079.71
661,297.01
0.00 878,044.44
0.00 2,245,853.94
* Beginning Accrued may not include investments that redeemed in the previous month that had outstanding accrued interest.
Run Date: 09/13/2020 4n ?O -10 -1 4
Item #08D
841, 625.28
205,498.87
2, 357, 633.51 549, 517.44
Portfolio FY20
Page 41 of,, A,)7.28
Q;
Report Ver. 7.3.6.1
Adjusted Acc'd Int.
Security
Par
Maturity
Current
* Beginning
at Purchase
Interest
Interest
* Ending
CUSIP
Investment #
Type
Value
Date
Rate
Accrued Interest
During Period
Earned
Received
Accrued Interest
Federal Agency
Coupon Securities
3135GOT78
1603
FAC
1,000,000.00
10/05/2022
2.000
277.78
0.00
20,000.00
15,500.00
4,777.78
3133EDWW8
1600
FAC
1,000,000.00
10/06/2022
2.600
361.11
0.00
26,000.00
20,222.22
6,138.89
3133EC4Q4
1558
FAC
2,000,000.00
11/23/2022
1.820
3,842.22
0.00
36,400.00
36,400.00
3,842.22
3133EJBP3
1590
FAC
2,000,000.00
02/02/2023
2.500
13,055.55
0.00
50,000.00
42,361.11
20,694.44
3133EKSN7
1605
FAC
4,000,000.00
06/26/2023
1.770
983.33
0.00
70,800.00
70,800.00
983.33
3133EHST1
1591
FAC
1,000,000.00
07/26/2023
2.010
5,248.34
0.00
20,100.00
16,694.17
8,654.17
3135GOU43
1602
FAC
2,000,000.00
09/12/2023
2.875
798.61
0.00
57,500.00
40,888.89
17,409.72
3133EHN25
1606
FAC
2,000,000.00
11/01/2023
2.200
611.11
0.00
44,000.00
37,277.78
7,333.33
Subtotal 39,000,000.00
Total
132,686,168.40
169,079.71
661,297.01
0.00 878,044.44
0.00 2,245,853.94
* Beginning Accrued may not include investments that redeemed in the previous month that had outstanding accrued interest.
Run Date: 09/13/2020 4n ?O -10 -1 4
Item #08D
841, 625.28
205,498.87
2, 357, 633.51 549, 517.44
Portfolio FY20
Page 41 of,, A,)7.28
Q;
Report Ver. 7.3.6.1
Unrealized Gains and Losses
Open Positions through June 30, 2020
Page 1
Investment #
Par Value Maturity Date
Term
Market Value
Inv.
Purchase
Unrealized
To Date
To Date
Actual
Issuer Type
Date
Current Rate
Days Held
Book Value
Market Date
Gain /Loss
Earnings
Net Earnings Yield 365
Certificates of Deposit - Bank
1531 BCD
06/23/2017
245,000.00
06/23/2021
1,461
245,000.00
249,179.70
4,179.70
14,079.84
18,259.54
2.464
Firstrust Savings Bank
1.900
1,104
06/30/2020
1526 BCD
06/26/2017
245,000.00
06/28/2021
1,463
245,000.00
248,991.05
3,991.05
13,302.58
17,293.63
2.340
Winter Hill Bank FSB
1.800
1,101
06/30/2020
1530 BCD
06/30/2017
245,000.00
12/30/2021
1,644
245,000.00
251,284.25
6,284.25
13,990.54
20,274.79
2.753
Citizens State Bankl
1.900
1,097
06/30/2020
1551 BCD
07/03/2017
245,000.00
02/03/2022
1,676
245,000.00
252,036.40
7,036.40
14,686.50
21,722.90
2.958
City National Bank Metropolis
2.000
1,094
06/30/2020
1528 BCD
06/21/2017
245,000.00
06/21/2022
1,826
245,000.00
255,358.60
10,358.60
17,446.02
27,804.62
3.745
Goldman Sachs Bank USA
2.350
1,106
06/30/2020
1533 BCD
06/30/2017
245,000.00
06/30/2022
1,826
245,000.00
253,731.80
8,731.80
14,726.78
23,458.58
3.186
BankVista
2.000
1,097
06/30/2020
1535 BCD
06/30/2017
245,000.00
06/30/2022
1,826
245,000.00
254,954.35
9,954.35
16,567.58
26,521.93
3.602
Wells Fargo Bank
2.250
1,097
06/30/2020
1552 BCD
07/19/2017
245,000.00
07/19/2022
1,826
245,000.00
255,432.10
10,432.10
16,642.55
27,074.65
3.742
Capital One NA
2.300
1,078
06/30/2020
1553 BCD
07/19/2017
245,000.00
07/19/2022
1,826
245,000.00
255,432.10
10,432.10
16,642.55
27,074.65
3.742
Capital One Bank USA, NA
2.300
1,078
06/30/2020
1554 BCD
07/19/2017
245,000.00
07/19/2022
1,826
245,000.00
254,679.95
9,679.95
15,557.16
25,237.11
3.488
TIAA FSB
2.150
1,078
06/30/2020
1561 BCD
03/28/2018
249,000.00
03/28/2023
1,826
249,000.00
266,711.37
17,711.37
16,341.24
34,052.61
6.043
Medallion Bank UT
2.900
826
06/30/2020
1562 BCD
03/29/2018
246,000.00
03/29/2023
1,826
246,000.00
263,537.34
17,537.34
16,124.80
33,662.14
6.054
BMW Bank North America
2.900
825
06/30/2020
1563 BCD
03/29/2018
246,000.00
03/29/2023
1,826
246,000.00
263,200.32
17,200.32
15,846.78
33,047.10
5.943
Citi Bank NA
2.850
825
06/30/2020
1568 BCD
03/29/2018
246,000.00
03/29/2023
1,826
246,000.00
263,200.32
17,200.32
15,846.78
33,047.10
5.943
Enerbank USA
2.850
825
06/30/2020
1564 BCD
03/29/2018
249,000.00
03/29/2023
1,826
249,000.00
266,728.80
17,728.80
16,321.45
34,050.25
6.050
Industrial & Comm Bank China
2.900
825
06/30/2020
1566 BCD
03/29/2018
246,000.00
03/29/2023
1,826
246,000.00
262,863.30
16,863.30
15,568.77
32,432.07
5.833
LCA Bank Corp
2.800
825
06/30/2020
1565 BCD
03/29/2018
246,000.00
03/29/2023
1,826
246,000.00
263,537.34
17,537.34
16,124.80
33,662.14
6.054
Morgan Stanley Bank
2.900
825
06/30/2020
1569 BCD
04/11/2018
246,000.00
04/11/2023
1,826
246,000.00
263,379.90
17,379.90
15,597.06
32,976.96
6.026
First Source Bank
2.850
812
06/30/2020
Run Date: 09/13/2020 - 15:09
2020 -10 -14 Item #08D
Portfolio FY20
AC
CG PRF CGU1) 7. 1.1
Page 42 ofR r. 7.3.6.1
Unrealized Gains and Losses
Open Positions through June 30, 2020 Page 2
Investment #
Par Value Maturity Date
Term
Market Value
Inv.
Purchase
Unrealized
To Date
To Date
Actual
Issuer Type
Date
Current Rate
Days Held
Book Value
Market Date
Gain /Loss
Earnings
Net Earnings Yield 365
Certificates of Deposit - Bank
1596 BCD
06/21/2019
249,000.00
06/21/2023
1,461
249,000.00
263,202.96
14,202.96
5,756.00
19,958.96
7.802
Denver Savings Bank
2.250
375
06/30/2020
1580 BCD
06/26/2018
245,000.00
06/26/2023
1,826
245,000.00
266,724.15
21,724.15
16,302.91
38,027.06
7.697
American Express National Bank
3.300
736
06/30/2020
1570 BCD
06/27/2018
245,000.00
06/27/2023
1,826
245,000.00
266,741.30
21,741.30
16,280.76
38,022.06
7.707
Sallie Mae Bank /Murray
3.300
735
06/30/2020
1571 BCD
06/29/2018
245,000.00
06/29/2023
1,826
245,000.00
266,731.50
21,731.50
16,236.43
37,967.93
7.717
Comenity Capital Bank
3.300
733
06/30/2020
1619 BCD
03/30/2020
249,000.00
09/29/2023
1,278
249,000.00
253,352.52
4,352.52
564.85
4,917.37
7.835
ALMA BANK
0.900
92
06/30/2020
1609 BCD
11/15/2019
249,000.00
11/15/2023
1,461
249,000.00
260,055.60
11,055.60
2,644.20
13,699.80
8.808
FIRST SERVICE BANK
1.700
228
06/30/2020
1597 BCD
06/28/2019
249,000.00
12/28/2023
1,644
249,000.00
266,355.30
17,355.30
6,025.13
23,380.43
9.313
Merrick Bank
2.400
368
06/30/2020
1585 BCD
03/25/2019
246,000.00
03/25/2024
1,827
246,000.00
268,595.10
22,595.10
9,068.98
31,664.08
10.125
BANK HAPOALIM BM NY
2.900
464
06/30/2020
1616 BCD
03/27/2020
249,000.00
03/27/2024
1,461
249,000.00
254,326.11
5,326.11
648.09
5,974.20
9.218
FORTUNE BANK ARNOLD
1.000
95
06/30/2020
1625 BCD
03/31/2020
249,000.00
03/28/2024
1,458
249,000.00
255,713.04
6,713.04
713.92
7,426.96
11.964
NICOLET NATIONAL BANK
1.150
91
06/30/2020
1623 BCD
03/30/2020
249,000.00
03/29/2024
1,460
249,000.00
255,252.39
6,252.39
690.38
6,942.77
11.062
CORNHUSKER BANK
1.100
92
06/30/2020
1593 BCD
06/13/2019
246,000.00
06/13/2024
1,827
246,000.00
266,723.04
20,723.04
6,728.94
27,451.98
10.607
MORGAN STANLEY PRIVATE
BANK
2.600
384
06/30/2020
1594 BCD
06/20/2019
249,000.00
06/20/2024
1,827
249,000.00
267,087.36
18,087.36
5,899.56
23,986.92
9.351
EAGLEBANK
2.300
376
06/30/2020
1595 BCD
06/26/2019
249,000.00
06/26/2024
1,827
249,000.00
267,139.65
18,139.65
5,805.42
23,945.07
9.487
COMMERCE BANK GENEVA MN
2.300
370
06/30/2020
1598 BCD
06/28/2019
249,000.00
06/28/2024
1,827
249,000.00
267,159.57
18,159.57
5,774.04
23,933.61
9.534
First State Bank Dequeen
2.300
368
06/30/2020
1599 BCD
06/28/2019
247,000.00
06/28/2024
1,827
247,000.00
265,033.47
18,033.47
5,743.25
23,776.72
9.522
REVERE BANK
2.300
369
06/30/2020
1618 BCD
03/30/2020
249,000.00
09/30/2024
1,645
249,000.00
254,089.56
5,089.56
627.62
5,717.18
9.109
LEGENDS BANK
1.000
92
06/30/2020
1624 BCD
03/31/2020
249,000.00
09/30/2024
1,644
249,000.00
254,089.56
5,089.56
620.80
5,710.36
9.198
PEOPLES BANK /SARDIS TN
1.000
91
06/30/2020
1611 BCD
11/04/2019
249,000.00
11/04/2024
1,827
249,000.00
260,917.14
11,917.14
2,690.21
14,607.35
8.959
POPPY BANK
1.650
239
06/30/2020
1610 BCD
11/08/2019
249,000.00
11/08/2024
1,827
249,000.00
260,919.63
11,919.63
2,645.18
14,564.81
9.085
COMMUNITY BANK
1.650
235
06/30/2020
Run Date: 09/13/2020 - 15:09
2020 -10 -14 Item #08D
Portfolio FY20
AC
ofR r.1
Page 43 7.3.6.1
Unrealized Gains and Losses
Open Positions through June 30, 2020 Page 3
Investment #
Par Value Maturity Date
Term
1,461
245
1,824
247
Subtotals
Market Value
259,151.73
06/30/2020
263,041.11
06/30/2020
522,192.84
10,151.73
14,041.11
24,192.84
2,674.20
3,117.30
5,791.50
12,825.93
17,158.41
29,984.34
Inv. Purchase
U.S. Treasury Coupon Securities
Unrealized
To Date
To Date
Actual
Issuer Type Date
Current Rate
TRC
Days Held
Book Value
Market Date
Gain /Loss
Earnings
Net Earnings Yield 365
Certificates of Deposit - Bank
100,510.17
102,295.36
2.541
U.S. Treasury Notes
1.500
735
1607 BCD 11/08/2019
249,000.00
11/08/2024
1,827
249,000.00
262,525.68
13,525.68
2,885.65
16,411.33
10.237
ENTERPRISE BANK AND TRUST
1.800
2,000,761.27
235
1,638.73
06/30/2020
99,230.36
1.180
U.S. Treasury Notes
1613 BCD 11/08/2019
249,000.00
11/08/2024
1,827
249,000.00
260,919.63
11,919.63
2,645.18
14,564.81
9.085
PADUCAH BANK AND TRUST
1.650
06/26/2018
235
07/31/2020
06/30/2020
1,999,155.52
2,003,020.00
3,864.48
101,288.72
1612 BCD 11/08/2019
249,000.00
11/08/2024
1,827
249,000.00
262,525.68
13,525.68
2,885.65
16,411.33
10.237
TRIAD BANK FRONTENAC MO
1.800
235
1520
06/30/2020
02/13/2017
2,000,000.00
08/31/2020
1,295
1615 BCD 03/26/2020
249,000.00
03/26/2025
1,826
249,000.00
253,389.87
4,389.87
654.91
5,044.78
7.703
EVERGREEN BANK GROUP
1.000
96
06/30/2020
1521
TRC
1617 BCD 03/27/2020
249,000.00
03/27/2025
1,826
249,000.00
253,384.89
4,384.89
648.09
5,032.98
7.766
MIDCOUNTRY BANK
1.000
95
06/30/2020
06/30/2020
1620 BCD 03/30/2020
248,000.00
03/31/2025
1,827
248,000.00
252,344.96
4,344.96
631.89
4,976.85
7.876
CENTERSTATE BANK NA
1.000
118,186.63
93
U.S. Treasury Notes
06/30/2020
1.375
1,234
1622 BCD 03/31/2020
249,000.00
03/31/2025
1,826
249,000.00
254,532.78
5,532.78
690.38
6,223.16
9.916
LIVE OAK BANKING COMPANY
1.100
2,003,493.21
92
11,186.79
06/30/2020
106,257.87
1.761
U.S. Treasury Notes
1621 BCD 03/30/2020
249,000.00
03/31/2025
1,827
249,000.00
255,115.44
6,115.44
721.76
6,837.20
10.894
PACIFIC ENTERPRISE BANK
1.150
92
06/30/2020
Certificates of
Deposit - Bank
Subtotals
11,375,000.00
11,939,186.87
564,186.87
404,643.96
968,830.83
7.357
Negotiable CDs
1614 NCB
CELTIC BANK
1608 NCB
First Bank Puerto Rico
10/30/2019
10/28/2019
249,000.00 10/30/2023
1.600
249,000.00 10/25/2024
1.850
Negotiable CDs
1,461
245
1,824
247
Subtotals
249,000.00
249,000.00
498,000.00
259,151.73
06/30/2020
263,041.11
06/30/2020
522,192.84
10,151.73
14,041.11
24,192.84
2,674.20
3,117.30
5,791.50
12,825.93
17,158.41
29,984.34
7.674
10.183
8.928
U.S. Treasury Coupon Securities
1583
TRC
06/27/2018
2,000,000.00
07/15/2020
749
1,999,234.81
2,001,020.00
1,785.19
100,510.17
102,295.36
2.541
U.S. Treasury Notes
1.500
735
06/30/2020
1514
TRC
04/19/2016
2,000,000.00
07/31/2020
1,564
2,000,761.27
2,002,400.00
1,638.73
97,591.63
99,230.36
1.180
U.S. Treasury Notes
1.625
1,534
06/30/2020
1576
TRC
06/26/2018
2,000,000.00
07/31/2020
766
1,999,155.52
2,003,020.00
3,864.48
101,288.72
105,153.20
2.609
U.S. Treasury Notes
2.000
736
06/30/2020
1520
TRC
02/13/2017
2,000,000.00
08/31/2020
1,295
1,999,338.66
2,003,960.00
4,621.34
106,209.74
110,831.08
1.640
U.S. Treasury Notes
1.375
1,234
06/30/2020
1521
TRC
02/13/2017
2,000,000.00
09/30/2020
1,325
1,998,948.35
2,005,940.00
6,991.65
107,148.69
114,140.34
1.689
U.S. Treasury Notes
1.375
1,234
06/30/2020
1522
TRC
02/13/2017
2,000,000.00
10/31/2020
1,356
1,998,432.71
2,007,860.00
9,427.29
108,759.34
118,186.63
1.749
U.S. Treasury Notes
1.375
1,234
06/30/2020
1538
TRC
06/28/2017
2,000,000.00
11/30/2020
1,251
2,003,493.21
2,014,680.00
11,186.79
95,071.08
106,257.87
1.761
U.S. Treasury Notes
2.000
1,099
06/30/2020
Run Date: 09/13/2020 - 15:09
2020 -10 -14 Item #08D
Portfolio FY20
AC
CG PRF CGU1) 7. 1.1
Page 44 ofR r. 7.3.6.1
Unrealized Gains and Losses
Open Positions through June 30, 2020 Page 4
Investment #
1534 FAC
06/21/2017
Par Value Maturity Date
Term
1524 FAC
Market Value
Federal Home Loan Bank
2.206
1537 FAC
06/23/2017
Federal Home Loan Mortgage
Inv.
Purchase
02/23/2018
Federal Home Loan Mortgage
1575 FAC
06/26/2018
Unrealized
To Date
To Date
Actual
Issuer
Type
Date
Current Rate
Federal Home Loan Bank
Days Held
Book Value
Market Date
Gain /Loss
Earnings
Net Earnings Yield 365
U.S. Treasury Coupon Securities
Federal Farm Credit
2,000,000.00
07/27/2021
1,495
2,003,399.63
2,032,420.00
29,020.37
103,750.97
132,771.34
1539
TRC
06/28/2017
2,000,000.00
02/28/2021
1,341
1,993,796.61
2,012,260.00
18,463.39
95,855.03
114,318.42
1.904
U.S. Treasury Notes
1,970,975.18
2,021,280.00
1.125
114,379.18
1,099
3.550
06/30/2020
859
06/30/2020
1540
TRC
06/28/2017
2,000,000.00
03/31/2021
1,372
1,994,714.60
2,016,100.00
21,385.40
96,482.02
117,867.42
1.962
U.S. Treasury Notes
2.375
1.250
1,099
06/30/2020
2,000,000.00
11/29/2021
1523
TRC
02/13/2017
2,000,000.00
07/31/2021
1,629
1,986,338.67
2,020,620.00
34,281.33
118,766.26
153,047.59
2.279
U.S. Treasury Notes
1.125
2,000,000.00
1,234
1,056
06/30/2020
2,070,020.00
63,909.94
56,287.83
120,197.77
1556
TRC
02/23/2018
2,000,000.00
09/30/2021
1,315
1,966,677.76
2,023,760.00
57,082.24
115,652.52
172,734.76
3.732
U.S. Treasury Notes
2,014,201.40
2,065,600.00
1.125
35,928.51
859
4.265
06/30/2020
371
06/30/2020
1574
TRC
06/26/2018
2,000,000.00
10/31/2021
1,223
1,983,511.98
2,048,760.00
65,248.02
105,461.71
170,709.73
4.268
U.S. Treasury Notes
2.150
2.000
736
06/30/2020
1578
TRC
06/26/2018
4,000,000.00
07/31/2022
1,496
3,944,752.67
4,152,520.00
207,767.33
214,644.07
422,411.40
5.310
U.S. Treasury Notes
2.000
736
06/30/2020
1572
TRC
06/26/2018
2,000,000.00
08/31/2022
1,527
1,966,005.65
2,073,680.00
107,674.35
107,140.16
214,814.51
5.419
U.S. Treasury Notes
1.875
736
06/30/2020
1579
TRC
06/26/2018
2,000,000.00
09/30/2022
1,557
1,964,737.07
2,076,560.00
111,822.93
107,124.37
218,947.30
5.527
U.S. Treasury Notes
1.875
736
06/30/2020
1592
TRC
03/27/2019
3,000,000.00
07/31/2023
1,587
2,918,256.73
3,098,790.00
180,533.27
81,031.06
261,564.33
7.081
U.S. Treasury Notes
1.250
462
06/30/2020
1604
TRC
06/26/2019
2,000,000.00
08/31/2023
1,527
1,978,471.68
2,075,400.00
96,928.32
34,782.83
131,711.15
6.550
U.S. Treasury Notes
1.375
371
06/30/2020
U.S. Treasury Coupon Securities
Subtotals
36,696,627.95
37,637,330.00
940,702.05
1,793,519.40
2,734,221.45
3.555
Federal Agency Coupon Securities
1534 FAC
06/21/2017
Federal Farm Credit
2,028,000.00
1524 FAC
02/13/2017
Federal Home Loan Bank
2.206
1537 FAC
06/23/2017
Federal Home Loan Mortgage
1557 FAC
02/23/2018
Federal Home Loan Mortgage
1575 FAC
06/26/2018
Federal Home Loan Bank
1,612
1555 FAC
02/23/2018
Federal Home Loan Bank
119,210.51
1588 FAC
03/27/2019
Federal Home Loan Bank
1601 FAC
06/26/2019
FEDERAL FARM CREDIT BANK
1536 FAC
06/23/2017
Federal Farm Credit
2,000,000.00
2,000,000.00
06/21/2021
1,461
1,998,614.58
2,028,000.00
29,385.42
104,231.25
133,616.67
2.206
1.650
1,106
06/30/2020
2,000,000.00
07/14/2021
1,612
1,986,805.51
2,019,500.00
32,694.49
119,210.51
151,905.00
2.261
1.125
1,234
06/30/2020
2,000,000.00
07/27/2021
1,495
2,003,399.63
2,032,420.00
29,020.37
103,750.97
132,771.34
2.191
1.875
1,104
06/30/2020
2,000,000.00
08/12/2021
1,266
1,970,975.18
2,021,280.00
50,304.82
114,379.18
164,684.00
3.550
1.125
859
06/30/2020
2,000,000.00
09/10/2021
1,172
1,992,612.58
2,049,600.00
56,987.42
108,804.02
165,791.44
4.126
2.375
736
06/30/2020
2,000,000.00
11/29/2021
1,375
1,982,725.75
2,048,540.00
65,814.25
117,169.08
182,983.33
3.921
1.875
859
06/30/2020
2,000,000.00
02/15/2022
1,056
2,006,110.06
2,070,020.00
63,909.94
56,287.83
120,197.77
4.734
2.420
462
06/30/2020
2,000,000.00
02/28/2022
978
2,014,201.40
2,065,600.00
51,398.60
35,928.51
87,327.11
4.265
2.200
371
06/30/2020
2,000,000.00
03/15/2022
1,726
2,010,562.82
2,065,660.00
55,097.18
111,238.37
166,335.55
2.735
2.150
1.104
06/30/2020
Run Date: 09/13/2020 - 15:09
2020 -10 -14 Item #08D
Portfolio FY20
AC
ofR r.1
Page 45 7.3.6.1
Unrealized Gains and Losses
Open Positions through June 30, 2020 Page 5
Investment # Par Value Maturity Date Term Market Value
Inv. Purchase Unrealized To Date To Date Actual
Issuer Type Date Current Rate Days Held Book Value Market Date Gain /Loss Earnings Net Earnings Yield 365
Federal Agency Coupon Securities
1573 FAC
06/26/2018
2,000,000.00
06/10/2022
1,445
1,998,868.05
2,095,760.00
96,891.95
111,937.93
208,829.88
5.181
Federal Home Loan Bank
2.750
736
06/30/2020
1560 FAC
02/23/2018
2,000,000.00
07/01/2022
1,589
1,986,454.08
2,000,000.00
13,545.92
120,664.08
134,210.00
2.871
Federal Home Loan Mortgage
2.220
859
06/30/2020
1589 FAC
03/27/2019
2,000,000.00
10/05/2022
1,288
1,991,770.13
2,076,620.00
84,849.87
55,034.58
139,884.45
5.549
Federal Nat'l Mortgage Assoc.
2.000
462
06/30/2020
1603 FAC
06/26/2019
1,000,000.00
10/05/2022
1,197
1,005,682.81
1,038,310.00
32,627.19
17,729.59
50,356.78
4.926
Federal Nat'l Mortgage Assoc.
2.000
371
06/30/2020
1600 FAC
06/26/2019
1,000,000.00
10/06/2022
1,198
1,017,860.93
1,052,530.00
34,669.07
18,362.04
53,031.11
5.126
Federal Farm Credit
2.600
371
06/30/2020
1558 FAC
02/23/2018
2,000,000.00
11/23/2022
1,734
1,960,680.70
2,073,560.00
112,879.30
124,422.92
237,302.22
5.143
Federal Farm Credit
1.820
859
06/30/2020
1590 FAC
03/27/2019
2,000,000.00
02/02/2023
1,408
2,014,284.30
2,113,720.00
99,435.70
56,089.85
155,525.55
6.100
Federal Farm Credit
2.500
462
06/30/2020
1605 FAC
06/26/2019
4,000,000.00
06/26/2023
1,461
3,996,557.01
4,176,280.00
179,722.99
72,952.34
252,675.33
6.220
Federal Farm Credit
1.770
371
06/30/2020
1591 FAC
03/27/2019
1,000,000.00
07/26/2023
1,582
993,472.07
1,051,700.00
58,227.93
28,030.41
86,258.34
6.860
FEDERAL FARM CREDIT BANK
2.010
462
06/30/2020
1602 FAC
06/26/2019
2,000,000.00
09/12/2023
1,539
2,065,825.66
2,167,420.00
101,594.34
37,424.27
139,018.61
6.621
Federal Nat'l Mortgage Assoc.
2.875
371
06/30/2020
1606 FAC
06/26/2019
2,000,000.00
11/01/2023
1,589
2,025,180.83
2,123,860.00
98,679.17
36,951.94
135,631.11
6.589
FEDERAL FARM CREDIT BANK
2.200
371
06/30/2020
Federal Agency
Coupon Securities
Subtotals
39,022,644.08
40,370,380.00
1,347,735.92
1,550,599.67
2,898,335.59
4.567
Total Current Bond
Positions
87,592,272.03
90,469,089.71
2,876,817.68
3,754,554.53
6,631,372.21
4.530
Total Realized and Unrealized Gains /Losses 2,876,450.18 4,864,867.48 7,741,317.66 3.875
Total realized capital loss - add back 367.50
Unrealized gain - CA LAIF 178,784.09
Unrealized gain - SD County Investment Pool 54,198.23
Total Unrealized Gais /Losses 3,109,800.00
Run Date: 09/13/2020 - 15:09
2020 -10 -14 Item #08D
Portfolio FY20
AC
ofR r.1
Page 46 7.3.6.1
CITY OF ENCINITAS
City of Encinitas - YTD Report 505 S. VULCAN
Realized Gains and Losses ENCINITAS, ENCINITAS,
(760)633 -2626 41 1
Sorted By Investment Type
Sales /Calls /Maturities: July 1, 2019 - June 30, 2020
Investment #
Par Value Sale Date
Days Held
Inv.
Purchase
06/29/2018
245,000.00
07/29/2019
Maturity /Sale
Realized
Total
Total
Total
Issuer Type
Date
Current Rate Maturity Date
Term
Book Value
Proceeds
Gain /Loss
Earnings
Net Earnings Yield 365
Certificates of Deposit - Bank
1525 NCB
06/20/2017
245,000.00
10/28/2019
860
1478 BCD
10/17/2014
248,000.00 10/17/2019
1,826
248,000.00
248,000.00
0.00
24,813.58
24,813.58
2.000
Synchrony Bank
2.000 10/17/2019
1,826
1586 NCB
03/28/2019
249,000.00
1487 BCD
12/10/2014
248,000.00 12/10/2019
1,826
248,000.00
248,000.00
0.00
27,294.94
27,294.94
2.200
CIT Bank
03/28/2024
2.200 12/10/2019
1,826
1587 NCB
1527 BCD
06/22/2017
245,000.00 06/22/2020
1,096
245,000.00
245,000.00
0.00
13,977.76
13,977.76
1.900
Ally Bank
1.900 06/22/2020
1,096
1,827
1532 BCD
06/28/2017
245,000.00 06/29/2020
1,097
245,000.00
245,000.00
0.00
12,517.85
12,517.85
1.700
Marathon Savings Bank
2.635
1.700 06/29/2020
1,097
1529 BCD
06/30/2017
245,000.00 06/30/2020
1,096
245,000.00
245,000.00
0.00
12,506.44
12,506.44
1.700
Chippewa Valley Bank
83,393.34
1.700 06/30/2020
1,096
0.875
07/31/2019
1,281
Certificates of Deposit - Bank
Subtotals
1,231,000.00
1,231,000.00
0.00
91,110.57
91,110.57
1.901
Negotiable CDs
1581 NCB
06/29/2018
245,000.00
07/29/2019
395
245,000.00
245,000.00
0.00
8,616.96
8,616.96
3.250
Texas Exchange Bank
3.250
06/29/2023
1,826
1525 NCB
06/20/2017
245,000.00
10/28/2019
860
245,000.00
244,632.50
- 367.50
10,102.01
9,734.51
1.686
Comenity Capital Bank
1.750
06/19/2020
1,095
1586 NCB
03/28/2019
249,000.00
01/28/2020
306
249,000.00
249,000.00
0.00
5,845.00
5,845.00
2.800
MARLIN BUSINESS BANK
2.800
03/28/2024
1,827
1587 NCB
03/29/2019
249,000.00
01/29/2020
306
249,000.00
249,000.00
0.00
5,845.00
5,845.00
2.800
FORTIS PRIVATE BANK
2.800
03/29/2024
1,827
Negotiable
CDs
Subtotals
988,000.00
987,632.50
- 367.50
30,408.97
30,041.47
2.635
U.S. Treasury Coupon Securities
1510 TRC
01/27/2016
2,000,000.00
07/31/2019
1,281
2,000,000.00
2,000,000.00
0.00
83,393.34
83,393.34
1.188
U.S. Treasury Notes
0.875
07/31/2019
1,281
1577 TRC
06/26/2018
2,000,000.00
07/31/2019
400
2,000,000.00
2,000,000.00
0.00
51,579.77
51,579.77
2.353
U.S. Treasury Notes
1.625
07/31/2019
400
1515 TRC
06/01/2016
2,000,000.00
08/31/2019
1,186
2,000,000.00
2,000,000.00
0.00
67,601.90
67,601.90
1.040
U.S. Treasury Notes
1.000
08/31/2019
1,186
1516 TRC
06/01/2016
2,000,000.00
10/31/2019
1,247
2,000,000.00
2,000,000.00
0.00
73,372.96
73,372.96
1.074
U.S. Treasury Notes
1.250
10/31/2019
1,247
1517 TRC
06/01/2016
2,000,000.00
02/29/2020
1,368
2,000,000.00
2,000,000.00
0.00
87,425.27
87,425.27
1.166
U.S. Treasury Notes
1.375
02/29/2020
1,368
1518 TRC
06/01/2016
2,000,000.00
03/31/2020
1,399
2,000,000.00
2,000,000.00
0.00
90,185.28
90,185.28
1.176
U.S. Treasury Notes
1.375
03/31/2020
1,399
U.S. Treasury Coupon
Securities
Subtotals
12,000,000.00
12,000,000.00
0.00
453,558.52
453,558.52
1.333
Portfolio
FY20
AC
Run Date: 09 /13/2020 21J!2 0 -10
-14
Item #08D
Page 47 o R PGR1)7.6.1
7 er.7.3.6.1
City of Encinitas - YTD Report
Realized Gains and Losses
Sales /Calls /Maturities: July 1, 2019 - June 30, 2020 Page 2
Investment #
Par Value
Sale Date
Days Held
Inv.
Purchase
Maturity /Sale
Realized
Total
Total
Total
Issuer Type
Date
Current Rate Maturity Date
Term
Book Value
Proceeds
Gain /Loss
Earnings
Net Earnings Yield 365
Federal Agency Coupon Securities
1559 FAC
02/23/2018
2,000,000.00
07/19/2019
511
2,000,000.00
2,000,000.00
0.00
59,997.22
59,997.22
2.143
Federal Home Loan Mortgage
0.875
07/19/2019
511
1506 FAC
06/26/2015
2,000,000.00
09/12/2019
1,539
2,000,000.00
2,000,000.00
0.00
134,828.89
134,828.89
1.599
Federal Nat'l Mortgage Assoc.
1.750
09/12/2019
1,539
1507 FAC
06/26/2015
2,000,000.00
11/26/2019
1,614
2,000,000.00
2,000,000.00
0.00
145,683.33
145,683.33
1.647
Federal Nat'l Mortgage Assoc.
1.750
11/26/2019
1,614
1512 FAC
04/19/2016
2,000,000.00
05/01/2020
1,473
2,000,000.00
2,000,000.00
0.00
92,006.67
92,006.67
1.140
Federal Home Loan Mortgage
1.375
05/01/2020
1,473
1513 FAC
04/19/2016
2,000,000.00
06/12/2020
1,515
2,000,000.00
2,000,000.00
0.00
102,718.78
102,718.78
1.237
Federal Home Loan Bank
1.750
06/12/2020
1,515
Federal Agency Coupon Securities
Subtotals
10,000,000.00
10,000,000.00
0.00
535,234.89
535,234.89
1.553
Total Realized Gains /Losses
24,219,000.00
Run Date: 09/13/20202?6!20.7 0.14 Item #08D
24,218,632.50 - 367.50 1,110,312.95 1,109,945.45 1.506
Portfolio FY20
AC
Page48 CeG GR1).1.1
Page dwpWer. 7.33.6.1
The City of Encinitas
Cash and Investments by Fund
FY 2019 -20
GENERALFUND
INFRASTRUCTURE FUNDS
Percentage of Total
GRANTFUNDS
34,575,120
DEVELOPMENT IMPACT FUNDS
951,462
MUNICIPAL IMPROVEMENTS DISTRICTS
1.43%
DEBT SERVICE FUNDS
1,409,291
CAPITAL IMPROVEMENTS FUNDS
32,238
CARDIFF SANITARY FUNDS
3.05%
ENCINITAS SANITARY FUNDS
4,362,441
SAN DIEGUITO WATER DISTRICT FUNDS
70,183
OTHER PROPRIETARY FUNDS
0.00%
INTERNAL SERVICE FUNDS
31,036,197
711 - CFD #1 DEBT SERVICE
0
712 - CFD #1 ADMINISTRATION
10.15%
931:932 - ERGA
13,978,968
119 - OPPORTUNITY FUND
231,097
RESTRICTED
15.17%
ADMIN COSTS BANK FEES
345,612
TOTAL PER GENERAL LEDGER
6,700
To reconcile from GL to Investment Report:
5.20%
Not included in Market Value per Investment Report
- Book Bal Checking
Not included in Market Value per Investment Report
- Register Cash
Not included in Market Value per Investment Report
- Restricted Cash
Included in Investment Report not in GL - ERGA
Total Market Value per Investment Report
20,437
Cash - Checking Account Bank Balance
0.29%
Total Cash and Investments
2,043,361
CASH AND INVESTMENTS
FY 2020 Actual
Percentage of Total
Interest Income
34,575,120
24.81%
951,462
1,990,121
1.43%
64,813
1,409,291
1.01%
32,238
4,251,087
3.05%
252,981
4,362,441
3.13%
70,183
-
0.00%
0
31,036,197
22.26%
0
14,146,534
10.15%
223,904
13,978,968
10.03%
231,097
21,143,272
15.17%
351,289
345,612
0.25%
6,700
7,250,572
5.20%
0
2,418,826
1.74%
24,470
24,654
0.02%
118
20,437
410,000
0.29%
2,043,361
1.46%
205,815
139,386,056
100.00%
2,435,507
(3,191,710)
(3,655)
(2,043,361)
1,367,911
135,515,241
3,753,480
139,268,721
2020 -10 -14 Item #08D Page 49 of 82
Attachment 2
CITY OF ENCINITAS
INVESTMENT OF BOND PROCEEDS
For the Fiscal Year ended June 30, 2020
GOVERNMENTAL FUNDS TRUSTEE CASH & INVESTMENTS
Yield
Maturity
Date
Market
Value
FY 2019 -2020
Income
Budget
ENCINITAS PUBLIC FINANCING AUTHORITY
2013 LEASE REVENUE BONDS (COMM PARK DEVELOPMENT)
Band Fund Blackrock Money Market Fund
0.121%
$ 17
$ 197
2014 ENCINITAS PUBLIC FINANCING AUTHORITY 2014 A & B LEASE REVENUE BONDS
(PACIFIC VIEW PROPERTY & MOONLIGHT BEACH LIFEGUARD TOWER)
Band Fund Blackrock Money Market Fund
$ 17
$ 197
$
0.111%
$ 55
$ 364
2015 LEASE REVENUE BONDS (PUBLIC LIBRARY)
Band Fund Blackrock T -Fund Money Market Fund
Interest Account
2017 LEASE REVENUE BONDS (PARK)
Band Fund Blackrock Liquidity Funds Fedfund
ENCINITAS PUBLIC FINANCING AUTHORITY TOTALS A
$ 55
$ 364
$
0.101%
$ 51
$ 513
$
$ 51
$ 513
$
0.001%
$ 34
$ 100
$ 34
$ 100
Is 157
1 $ 1,174
$
TOTALS FOR GOVERNMENTAL FUNDS (A)
$ 157
$ 1,174
$
ENTERPRISE FUNDS TRUSTEE CASH & INVESTMENTS
Yield
Maturity
Date
Market
Value
FY 2019 -2020
Income
Budget
SAN DIEGUITO WATER DISTRICT
2007 WATER REVENUE BONDS
Band Fund JP MORGAN US TRSY PILUS PREM
Interest Account JP MORGAN US TRSY PILUS PREM
Reserve Fund -SDWD BLACKROCK FEDERAL FD INSTL 30
0.001%
0.001%
0.101%
$ 2,430
1
640,158
$ 479
1
9,544
2014 WATER REVENUE BONDS
Debt Service Fund Blackrock Institutional Funds T -Fund
TOTAL
$ 642,589
$ 10,024
$ -
0.211%
$ 5
$ 408
TOTAL
TOTALS FOR ENTERPRISE FUNDS (B)
$ 5
$ 408
$ -
$ 642,594
$ 10,432
$
TOTAL TRUSTEE CASH & INVESTMENTS A + B
$ 642,751
1
1 $ 11,606 $
NOTE: The City's leases for capital equipment do not require any trustee deposits, and thus, are not listed on this summary.
2020 -10 -14 Item #080 Page 50 of 82
Attachment 3
CITY OF ENCINITAS
ADMINISTRATIVE MANUAL
Policy Title: Investment Policy Section: Finance
Responsible Department Finance Number: Admin Policy F019
Approved By. • City Council Date Approved. 1994
Last Amended.' entem " ^r 49 20490ctober
14,202
1. Philosophy
The Investment Policy of the Encinitas City Council for the City of Encinitas represents the financial
guidelines for the City's Investment Program. It is the policy of the City of Encinitas to invest excess
public funds in a prudent manner that safeguards the public trust, minimizes the risk of loss of capital,
and provides assurance that all financial obligations will be met in the regular course of business. The
City Council shall provide direction to the City Treasurer as to the goals and specific objectives of the
Investment Program.
11. Scope
This Investment Policy applies to all financial assets under the oversight of the City of Encinitas, except
bond proceeds held by outside trustees and funds held by other governmental agencies. The City of
Encinitas includes the City and all component units: the Encinitas Housing Authority (EHA), the
Encinitas Public Financing Authority (EPFA), and the San Dieguito Water District (SDWD). These
funds are accounted for in the City of Encinitas' Comprehensive Annual Financial Report and include:
GENERALFUND
SPECIAL REVENUE FUNDS
CAPITAL PROJECT FUNDS
ENTERPRISE FUNDS
INTERNAL SERVICE FUNDS
This policy also applies to funds that the City manages for other governmental agencies. Currently,
the City manages funds for the Encinitas Ranch Golf Authority (ERGA), a legally separate joint powers
authority which is not a component unit of the City.
The investment of Bond Proceeds held with trustees is directed by the City, but is governed by the
restrictions on Permitted Investments in the applicable Bond Indenture agreements.
A portion of City funds is held by other governmental agencies. These funds are invested under the
guidelines of the investment policies of those agencies.
The City retirement plan is with CALPERS, and the City has no authority or oversight over the
investments in any of those plans. Further, the City administers several deferred compensation plans.
2020 -10 -14 Item #080 Page 51 of 82
Assets held in those plans are held in trust for the participants, and are not assets of the City. The
City does not have any authority over the investments held in these trusts.
III. Prudence
Investments shall be made with reasonable financial judgment and care, under circumstances then
prevailing, which persons of prudence, discretion and intelligence exercise in the management of their
own affairs, not for speculation, but for investment, considering the probable safety of their capital as
well as the probable income to be derived.
The standard of prudence to be used by investment officials shall be the `prudent investor" standard.
California Gov't Code 53600.3 states that, "When investing, reinvesting, purchasing, acquiring,
exchanging, selling or managing public funds, a trustee shall act with care, skill, prudence, and
diligence under the circumstances then prevailing, including, but not limited to, the general economic
conditions and the anticipated needs of the Agency, that a prudent person acting in a like capacity and
familiarity with those matters would use in the conduct of funds of a like character and with like aims,
to safeguard the principal and maintain the liquidity needs of the Agency. The standard shall be
applied in the context of managing an overall portfolio. Investment officials acting in accordance with
established procedures and exercising due prudence shall be relieved of personal responsibility for an
individual security's credit risk or market price changes.
IV. Investment Objectives
A. Safety of Principal - the first objective of this policy is to ensure the safety of principal. The
portfolio shall be planned and managed to minimize the risk of actual loss of principal. Principal is
defined as the original purchase price of the security, excluding any purchase of accrued interest, up
to the par (face) value of the security. Any purchase amount above par value (premium) is considered
to be a purchase of accrued interest, and is excluded from the calculation of principal amount. The
City Treasurer shall consider both credit risk and concentration risk (the concept of diversification)
when assessing safety, and shall follow the guidelines outlined later in this policy to achieve that
objective.
B. Li uid' - The second objective is the maintenance of sufficient liquidity to meet all operating
and capital spending requirements that can be reasonably anticipated.
C. Return on investments - The third objective is yield, specifically, attaining a market rate of
return over time, consistent with Council direction as to acceptable levels of risk. Refer to Section XV
below for further discussion of performance measurement.
V. Delegation of Authority
In accordance with the California Government Code, Section 53607, the City Council hereby
delegates the authority to invest or reinvest the City's funds, to sell or exchange securities purchased,
and to deposit securities for safekeeping to the City Treasurer. Encinitas Municipal Code Chapter
2.28 designates that the Director of Finance shall serve as City Treasurer. The City Treasurer has
the option to delegate some, or all, of the duties described in this Policy to other qualified individuals
within the organization.
Investment Procedures
The City Treasurer is responsible for establishing written investment procedures for the management
and operation of the Investment Program, consistent with this Policy. Those procedures shall include
reference to such items as: custody /safekeeping, repurchase agreements (if applicable), wire transfer
agreements, banking service agreements, and explicit delegation of authority to personnel involved
in the processing of banking or investment transactions. No person may engage in any investment
transaction except as provided under the terms of this Policy and the established procedures.
2020 -10 -14 Item #080 Page 52 of 82
VI. Ethics, & Conflict of Interest
The investment responsibility carries with it the responsibility of ensuring that investments placed are
done so without improper influence or the appearance of improper influence. All officers and
employees (officials) involved in the investment function shall adhere to the State's Code of Economic
Interest and to the following:
Officials shall refrain from personal business activity that could conflict with proper and impartial
execution of the Investment Program, or that could impair their ability to make impartial investment
decisions. Further, officials shall not personally or through a close relative maintain any accounts,
interest, or private dealings with any firm with which the City places investments, with the exception
of regular savings, checking and money market accounts, or other similar transactions that are offered
on a non - negotiable basis to the general public. Any such relationships shall be disclosed annually
to the City Clerk in conjunction with annual disclosure statements of economic interest.
VII. Authorized Financial Dealers and Institutions
The City Treasurer shall maintain a list of qualfed financial institutions authorized to provide financial
or investment services to the City.
The City shall contract with one institution to provide general banking services, which shall be
reviewed at least every five years. City Council shall approve the selected institution and the
contract for banking services.
The City shall contract with one institution to provide investment custody services, which shall be
reviewed at least every five (5) years. City Council shall approve the selected institution and the
contract for custody services.
The City Treasurer shall maintain a list of qualified security broker - dealers authorized to provide
financial or investment services to the City. To be eligible for consideration to become an authorized
provider, each Broker /Firm shall meet the following MINIMUM requirements:
(1) have a net capital position in excess of $10 million,
(2) have been in business for at least five years,
(3) are currently licensed as a broker - dealer or investment adviser in California, and
(4) Must carry adequate insurance coverage including liability, errors and omissions, and
workers compensation (if applicable.)
Firms providing only representation of money market funds are exempt for requirement #1, but must
still comply with all other requirements, including those listed below.
The City Council shall approve the initial authorization of any broker - dealer. Authorized firms shall
be notified by the City Treasurer via an engagement letter, which outlines each parties'responsibilities
(primarily the continuing compliance requirements discussed directly below). There is no contract for
professional services or term to the engagement. The City Treasurer shall periodically evaluate the
performance of all qualified broker - dealers, and determine if any changes need to be made.
All broker - dealers authorized to do business with the City of Encinitas must also comply with the
following requirements.
(1) Firms must submit audited financial statements annually, within six months of their fiscal
year -end,
2020 -10 -14 Item #080 Page 53 of 82
(2) Firms must provide proof of their Financial Industry Regulatory Authority (FINRA)
certification, and must disclose to the City immediately any regulatory actions or complaints
against the broker assigned to the City account,
(3) Firms must provide proof of their registration /license to do business in the State of California,
and shall immediately disclose to the City any change in that status.
(4) Firms must certify in writing that they have received, read, and agree to comply with the City
of Encinitas' most recently adopted Investment Policy.
Vlll. Authorized & Suitable Investment Instruments
As a unit of local government in the State of California, the City of Encinitas is restricting itself to
the investments authorized by Government Code, Sections 16429.1, 27133 and Sections 53600
through 53635 (the Gov't "Code') except as otherwise provided herein by specific additional
Council actions.
SPECIFIC INVESTMENT TYPES AND AMOUNTS - The City Treasurer is authorized to invest in
only the following types of investments listed below in Section Vlll.
INVESTMENT ALLOCATIONS - The State Law Maximum allocations listed below refer to the
percentage of the total portfolio or dollar amount that may be invested in each instrument under the
provisions of the Gov't Code. The Investment Policy Maximum allocations refer to maximum
allocations the City Treasurer follows, in order to effect proper diversification of the portfolio and
limit concentration risk. The City Treasurer is permitted to exceed these maximum allocations for
temporary periods. Any asset allocation that exceeds the Investment Policy Maximum allocation
for a period of more than three months shall be reported to the City Manager.
For purposes of calculating the percentage allocations, the assumption will be applied that the size
of the portfolio for any fiscal year shall be determined by the total par value of the portfolio at the
beginning of the first day of the fiscal year. Any investment types that exceed the maximum
allowable under the Gov't Code shall be reported to the City Council in the quarterly investment
report.
(1)
(2)
Repurchase agreements
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
NO LIMIT 20%
This type of investment is only authorized in relation to the City's general banking
arrangements, in which excess cash balances are "swept" into an interest earning
account overnight. Maximum maturity is one year. All balances are required to be
properly collateralized at 102% of par value in accordance with State requirements.
CA Local Agency Inv Fund (LAIF) STATE LAW MAXIMUM 30
The `STATE LAW MAXIMUM" refers to the LAIF limit on maximum deposits perlocal
agency, not to the CA govt code restrictions. The City of Encinitas maintains two
accounts with the LAIF, one in the name of the City and the other in the name of the
San Dieguito Water District. Each account has a
INVESTMENT ALLOCATIONS
2020 -10 -14 Item #080 Page 54 of 82
STATE LAW INV POLICY
MAXIMUM MAXIMUM
deposit limit of the maximum amount allowed by CA state law. Since San Dieguito
Water District is a component unit of the City, the City may legally utilize the SDWD
account in the operation of the City Pool. Thus, SDWD owns its ratable share of all
City Pooled investments, but does not have a direct ownership interest in the LAIF
account in its name.
(3) Other GovY Managed Pools NO LIMIT 30%
Per Issuer 10% per Pool
Investments in individual pools shall be limited to 10% of the total portfolio. Currently
approved pools are the San Diego County Investment Pool and the California Asset
Management Program (CAMP). The City Council must approve the addition of any
other governmental pools.
(4) Mutual Funds and Money Market Mutual Funds (Tota9
20% 20%
Per Issuer 10% 10
(A) Money Market Mutual Funds N/A 20%
Perlssuer N/A 10%
Qualifying funds must meet one of the following criteria: (1) Attained the highest
ranking or the highest letter and numerical rating provided by not less than two
nationally recognized statistical rating organizations, OR (2) Retained an Investment
Advisor registered or exempt from registration with the SEC with not less than five
years' experience managing money market mutual funds with assets under
management in excess of $500 million.
(B) Mutual Funds N/A 10%
Perlssuer N/A 5%
A mutual fund must receive the highest ranking by not less than two nationally
recognized rating agencies or the fund must retain an investment advisor who is
registered with the SEC (or exempt from registration), has assets under
management in excess of $500 million, and has at least five years experience
investing in instruments authorized by California Government Code sections 53601
and 53635.
(5) Certificates of Deposit (CD's) NO LIMIT 10%
Perlssuer NO LIMIT 5%
All CD's must be either insured by the FDIC or properly collateralized, pursuant to
Section X below. Maturity shall not exceed five Re years. No more than 5% of the
total account value per issuer. To be eligible to receive deposits from the City of
Encinitas, each qualified financial institution must have received an overall rating of
not less than "satisfactory" in its most recent evaluation by regulators of its record of
meeting the credit needs of its community.
2020 -10 -14 Item #080 Page 55 of 82
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
(6) Negotiable Certificates of Deposit 30% 10%
Per Issuer 5%
All Negotiable CD's must be issued by a provider rated either: (1) Aaa by Moody's,
(2) AAA by Standard & Poors, or (3) Aa 1 by Moody's and AA+ by Standard & Poor's.
Investments of $250,000 or less that are fully insured by the FDIC are exempt from
the above credit rating requirements. Maturity shall not exceed five years. No more
than 5% of the total account value per issuer.
(7) Bankers Acceptances 40% 10%
Per Issuer 30% 5
Bankers Acceptances (BA's) represent a time draft drawn on and accepted by a
Bank for payment of the shipment or storage of merchandise. They are generally
considered a very safe investment since both the credit of the issuer and the Bank
is pledged for repayment. They must not exceed 180 days maturity. BA's must have
an underlying credit rating of Al /P1, and are limited to 5% of the total account value
per issuer.
(8) U.S. Treasury Bills, Notes and Bonds NO LIMIT 50%
(9) U.S. Government-Sponsored Agencies NO LIMIT 60%
Per Issuer 25%
City shall invest primarily in securities issued by Federal Home Loan Bank (FHLB),
Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage
Corporation (FHLMC), and Federal Farm Credit Bureau (FFCB). City may invest in
Private Equity Funding Corporation (PEFCO) and Tennessee Valley Authority
(TVA); however, the overall limit of 60% still applies. City may also invest in the
Government National Mortgage Association, but only via authorized Mutual Funds
cited in Category 5 above, and subject to those limitations.
(10) Commercial Paper 25% 25%
Perlssuer (see below 5%
Commercial Paper (CP) is a short -term 1. 0. U. issued by large corporations of high
credit standing which is unsecured. Investments are limited to only `prime quality"
CP issued with the highest letter and number rating provided by one of the two
nationally recognized rating agencies. City limits itself only to CP rated A -1 or better
by Standard & Poors and P -1 by Moodys. Issuing corporations must be (1)
organized and operating within the United States, (2) have total assets in excess of
$500 million, and (3) have a `A "or higher rating for the issuers other debt obligations.
Organized and operating within the United States includes global companies that
sponsor United States commercial paper programs. City may not purchase more
than 5% of outstanding commercial paper of any single corporate issuer. The
maximum allowable maturity is 270 days or less.
2020 -10 -14 Item #080 Page 56 of 82
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
(11) Commercial Medium -Term Notes 30% 15%
Per Issuer 5%
Medium -Term Notes are defined as all corporate and depository institution debt
securities with a maximum remaining maturity of five years or less, issued by
corporations organized and operating in the United States or by depository
institutions licensed by the United States. State Code requires a credit rating of A"
or better by one nationally recognized rating agency. The City is further limiting itself
to notes that are rated Aa3 or better (Moody's) and AA- or better (S & P).
(12) Guaranteed Investment Contracts None 10%
Per Issuer 5%
Guaranteed Investment Contracts (GIC's) are corporate obligations similar to
medium -term notes, but are issued directly to the Agency by the issuer in the form
of an investment contract. They are generally longer term in nature. They are
generally utilized for the investment of bond proceeds, but may be utilized for the
investment of Pooled funds. Uncollateralized GIC's are permitted only with issuers
rated Aaa (Moody's) and /or AAA (Standard & Poors) Collateralized GIC's are
permitted with issuers rated Aa2 or better (Moody's) and AA or better (Standard &
Poors). No more than $5 million per issuer.
(13) Demand Deposits (non - interest bearing) None 0 -2%
Per Issuer 0 -2
Non - interest bearing demand deposits with a financial institution approved to do
business with the City shall be an allowable investment for the City Pool. These
types of accounts are necessary to carry on the regular day -to -day financial
operations of the City, must be collateralized, and are reported as `cash" on the
monthly investment reports. When available, the City Treasurer shall execute a
"sweep arrangement" with the designated financial institution, to provide for excess
overnight balances to earn interest.
(14) Demand Deposits (interest bearing) None 20%
Per Issuer 10
Interest - bearing demand deposits with a financial institution approved to do business
with the City shall be an allowable investment for the City Pool. These types of
accounts generally serve as an alternative to bank certificates of deposit, and have
a stated minimum balance requirement. These types of accounts require a separate
agreement with the financial institution, and must be fully collateralized as Public
Deposits under California law. In addition, some part of the deposit (currently
$250,000) may be insured by the Federal Deposit Insurance Corporation (FDIC) in
lieu of collateralization.
2020 -10 -14 Item #080 Page 57 of 82
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
(15) Asset-Backed Securities 20% 10
Per Issuer 5%
These securities consist of Traditional Asset - Backed, Mortgage- Backed, Mortgage
Pass - Through Securities, and Collateralized Mortgage Obligations. They are
permitted given that the securities are rated in a rating category of AA" or its
equivalent or better by a NRSRO and have a maximum remaining maturity of five
years or less. No more than 10% of the total portfolio may be invested in these
securities. No more than 5% of the portfolio may be invested in any single Asset -
Backed or Commercial Mortgage security issuer. There is no issuer limitation on
any mortgage security where the issuer is the U.S. Treasury or a Federal
Agency /GSE.
(16) Supranationals 30% 20%
Per Issuer 1
Supranational issues are U. S. dollar denominated senior unsecured unsubordinated
obligations issued or unconditionally guaranteed by the International Bank for
Reconstruction and Development, International Finance Corporation, or Inter -
American Development Bank. They are permitted if rated in a rating category of
AA "or its equivalent or better by a NRSRO. No more than 20% of the total portfolio
may be invested in these securities. No more than 150% of the portfolio may be
invested in any single issuer. The maximum maturity does not exceed five years.
2020 -10 -14 Item #080 Page 58 of 82
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
SUMMARY TABLE of INVESTMENT ALLOCATIONS
STATE LAW
REPURCHASE AGREEMENTS NO LIMIT
CALIFORNIA LAIF NO LIMIT
OTHER GOVT POOLS NO LIMIT
Per Issuer
MUTUAL FUNDS TOTAL
Per Issuer
(4 -A) Money Market Mutual Funds
Per Issuer
(4 -B) Mutual Funds
Per Issuer
CD's
Per Issuer
NEGOTIABLE CD's
Per Issuer
BANKERS ACCEPTANCES
Per Issuer
U.S. TREASURYS
U.S. FEDERAL AGENCIES
Per Issuer
COMMERCIAL PAPER
Per Issuer
COMMERCIAL MTN NOTES
Per Issuer
20%
10%
N/A
N/A
N/A
N/A
NO LIMIT
INV POLICY
20
30
30
10%
20%
30
40% 10%
30
NO LIMIT
NO LIMIT
25
30
(12)
GIC's
NO LIMIT
Per Issuer
(13)
Demand Deposits (non - interest bearing) NO LIMIT
Per Issuer
(14)
Demand Deposits (interest bearing)
NO LIMIT
Per Issuer
(15)
Asset-Backed Securities
20%
Per Issuer
5%
(16)
Supranationals
30%
Per Issuer
1
10%
20
10%
10%
5%
10%
5%
10%
5%
5%
50
60%
25%
25
5%
15%
5%
10%
5%
0 -2%
0 -2%
20%
10%
10%
20%
The State of California Government Code restricts local agencies from investing in securities with
final maturity dates greater than five (5) years, except as specifically authorized by the City Council.
This Policy authorizes two specific exceptions to the above restriction.
(1) The City may invest in up to $5 million (par value) of securities (at date of purchase)
rated AAA or equivalent by either S &P or Moody's with maturities of greater than five
(5) years, but not exceeding seven (7) years.
2020 -10 -14 Item #080 Page 59 of 82
(2) The City's General Contingency Reserve is not a part of normal operating reserves,
and the related funds are not expected to be utilized in the foreseeable future, thus,
the likelihood of liquidation is very small. The objective(s) of investment in this area
are to maximize earnings with safety, while recognizing that liquidity is less of an
issue than with operating or capital funds. Consistent with these objectives, the City
Treasurer is authorized to invest contingency funds in securities rated AAA or
equivalent with maturities greater than seven (7) years that have a ready market
should the need arise to liquidate the investment.
The City Council has directed the City Treasurer not to invest in securities of companies involved in
the production of tobacco, alcohol related products, or fossil fuel companies. The City recognizes
that, due to the extreme complexity of today's corporate structures, it is possible that investments
may be placed in good faith in corporations that have an interest in tobacco, alcohol related products
or fossil fuel companies that is not widely known or properly disclosed by those corporations. The
City Treasurer shall make his /her best efforts, including notice to broker /dealers, to assure that any
corporate investments are placed with companies who are not in the tobacco, alcohol, or fossil fuel
business. This policy applies at the time of purchase only.
Certain investments are specifically prohibited by the State Code. Local Agencies may not invest in
the following: Inverse floating -rate notes, range notes, or mortgage- derived interest -only strips. The
Code also states that A local Agency shall not invest in any security that could result in zero interest
accrual if held to maturity." The City's interpretation of this Code section is that it does not prohibit
investment in U.S. Treasury or Federal Agency securities which carry a variable rate of interest;
because the chance that such notes could result in zero interest accrual to maturity is remote.
IX. Due Diligence Requirements for Investment Pools, Mutual Funds, and CD's
Investments of these types are authorized in Section Vlll. above. Before investing any funds in pools
or mutual funds, the City Treasurer shall perform a thorough investigation of the fund(s) to determine
the suitability of the investment for the City of Encinitas Pooled Investment Fund. This investigation
shall include, at a minimum: review of the Funds investment policy and /or prospectus, a review of the
performance history of the Fund, review of ratings (where applicable), review of the latest published
portfolio composition, review of fees and charges, and references from other agencies who invest in
the Fund.
The City Treasurer shall monitor placement of Certificates of Deposit with financial institutions on a
regular basis. Compliance with collateral requirements shall be monitored (if applicable).
X. Collateralization of Public Deposits
Collateralization will be required on two types of investments: demand and timed deposits (which are
not fully insured by FDIC) and repurchase agreements. The City Treasurer has agreed to waive
collateral requirements on the first $250, 000 of CD's from each institution, which are insured by FDIC.
In order to anticipate market changes and provide a level of security for all invested funds, the required
collateralization levels will be:
(1) Overnight repurchases 102% of market value
(2) Timed Deposits in accordance with CA law regarding Public Deposits
(3) Demand Deposits in accordance with CA law regarding Public Deposits
Collateral must be held by an independent third party with whom the entity has a current custodial
agreement. Collateral for overnight repurchases (sweep agreements) may be held by the Trust
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Department of the institution providing such sweep services. Sweep contracts shall provide for a
perfected security interest for the City in collateralized securities.
Collateral shall be provided by the issuing institution in accordance and compliance with the California
Gov't Code Sections 53630 et al. Issuing institution is responsible for compliance with all collateral
requirements, and must provide the City periodic evidence of that compliance, in a form acceptable
to the City.
XI. Safekeeping and Custody
All security transactions entered into by the City shall be conducted on a delivery- versus - payment
(DVP) basis. Securities shall be held by an independent third -party custodian approved by the City
Council. All broker - dealers shall send a transaction confirmation to the City Treasurer, and all security
transactions confirmations shall be treated as a "Vital Record" by City personnel and kept safe per
the requirements of City policy on Vital Records. Broker - dealers shall also send a monthly activity
statement to the City showing all transactions entered into in the period. No City securities or cash
will be held by any broker - dealer. The custodian sends a monthly statement to the City Treasurer
covering all investment activity handled by that institution.
XII. Diversification
The City will diversify its investments by security type and institution, to avoid incurring unreasonable
risks inherent in over - investing in specific instruments or individual financial institutions. This Policy
sets limits on maximum allocations by investment type and by issuer. Refer to Section VIII. above
for a listing of authorized investments and the maximum allocation by type of investment. Section
VIII. also details specific limitations per issuer. For purposes of this Policy, those limits each apply to
the overall portfolio.
Xlll. Maximum Maturities
To the extent possible, the City of Encinitas will attempt to match its investments with anticipated cash
flow requirements, after taking into consideration interest rate (market) risk and the potential benefits
of extending investment maturities. The City conforms to the California Gov't Code requirements
limiting investments in notes to five (5) years, subject to the exceptions cited in Section VIII. This
relates principally to funds classified as reserves, which may be invested in specified instruments with
maturities greater than five (5) years.
XIV. Internal Control
The City Treasurer shall establish a system of internal controls over all cash management and
investment transactions, designed to provide reasonable assurance that assets are safeguarded and
that all transactions are properly and timely recorded.
The City's independent auditor shall annually review the system of internal controls and report any
deficiencies and /or suggestions for improvements to the Director of Finance /City Treasurer. Any
confirmed significant deficiencies shall be reported to the City Manager and City Council in writing,
along with the City's response to the audit findings.
XV. Performance Standards:
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The City has determined that periodic quantitative measurement of investment portfolio performance
is an important component of the overall monitoring of the investment program. As stated in Section
IV(C) above, the performance objective of the Program is attaining a market rate of return over time
consistent with the overall risk tolerance of the organization.
The City Treasurer is charged with determining an appropriate benchmark by which to measure
periodic performance. The chosen benchmark shall be designed to match as closely as practicable
the City's tolerance for investment risk. Utilization of the benchmark and analysis of actual
performance vs. the benchmark represent an important risk management tool, and analysis of
significant variations shall be reported to the City Council in a timely manner. At the same time, it is
recognized that the benchmark represents a guideline only, and that performance may vary,
especially over relatively short time periods. A timeframe of 2 -3 years is considered to be the
minimum time period necessary for judging overall performance, due to changing market conditions,
cash flow requirements and the fact that no chosen performance benchmark will exactly mirror the
City's portfolio.
Attaining a market rate of return overtime shall be measured and reported to the City Council, at least
quarterly, via the utilization of the following benchmark to measure performance.
The one (J year constant maturity Treasury index
Any change to the above performance benchmark shall be reported to the City Council during the
City Treasurer's quarterly investment report.
The City Treasurer shall report performance on a quarterly basis based on the book yield (standard
income) approach. Book yield calculates the earnings on an investment based on actual interest
earned during any reporting period, including the accretion of purchase discounts and /or the
amortization of purchase premiums. The City Treasurer shall also report the estimated market value
of investments held (as provided by a third -party data provider) with each periodic report. The City no
longer reports investment income on a total return basis each fiscal year (the alternative method
presented in Gov't Actg. Standards Board (GASB) Statement No. 31) as the results over time are
roughly comparable.
XVI. Investment Accounting and Reporting
The City Treasurer shall prepare (or have prepared) monthly investment reports sufficient to properly
track and record all investment transactions and activity. The City Treasurer shall report investment
positions and results of the Pooled Investment Fund to the City Council at least quarterly, in a form
acceptable to the City Council. These reports shall either be presented as an Agenda Report or as a
memo report to the City Council members, at the discretion of the City Manager. The City Treasurer
shall report positions and results of the Pooled Investment Fund and the Investment of Bond
Proceeds annually to the City Council at a Public Meeting. Detailed annual reports of the Pooled
Investment Fund shall be made available on the City's website for public review.
XVII. Investment Policy Adoption:
The Investment Policy shall be reviewed and adopted by the City Council at a Public Meeting at least
annually, regardless of whether there are any proposed changes to the Policy. The Policy shall be
posted for public review on the City's website (www.encinitasca.gov) under Departments/Finance.
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Any typographical errors of other minor errors or inconsistencies shall be investigated and interpreted by the
City Treasurer, who shall then seek the concurrence of the City Manager before making any changes to
policies or procedures.
XVIII. Glossary of Investment Terms
AGENCIES. Shorthand market terminology for any obligation issued by a government- sponsored entity
(GSE), or a federally related institution. Most obligations of GSEs are not guaranteed by the full
faith and credit of the US government. Examples are:
FFCB. The Federal Farm Credit Bank System provides credit and liquidity in the agricultural
industry. FFCB issues discount notes and bonds.
FHLB. The Federal Home Loan Bank provides credit and liquidity in the housing market. FHLB
issues discount notes and bonds.
FHLMC. Like FHLB, the Federal Home Loan Mortgage Corporation provides credit and liquidity in
the housing market. FHLMC, also called "FreddieMac" issues discount notes, bonds and
mortgage pass- through securities.
FNMA. Like FHLB and FreddieMac, the Federal National Mortgage Association was established to
provide credit and liquidity in the housing market. FNMA, also known as "FannieMae," issues
discount notes, bonds and mortgage pass- through securities.
GNMA. The Government National Mortgage Association, known as "GinnieMae, " issues mortgage
pass- through securities, which are guaranteed by the full faith and credit of the US
Government.
PEFCO. The Private Export Funding Corporation assists exporters. Obligations of PEFCO are not
guaranteed by the full faith and credit of the US government.
TVA. The Tennessee Valley Authority provides flood control and power and promotes development
in portions of the Tennessee, Ohio, and Mississippi River valleys. TVA currently issues discount
notes and bonds.
ASKED. The price at which a seller offers to sell a security.
ASSET BACKED SECURITIES. Securities supported by pools of installment loans or leases or by pools of
revolving lines of credit.
AVERAGE LIFE. In mortgage- related investments, including CMOs, the average time to expected receipt of
principal payments, weighted by the amount of principal expected.
BANKER'S ACCEPTANCE. A money market instrument created to facilitate international trade transactions. It
is highly liquid and safe because the risk of the trade transaction is transferred to the bank which
"accepts" the obligation to pay the investor.
BENCHMARK. A comparison security or portfolio. A performance benchmark is a partial market index, which
reflects the mix of securities allowed under a specific investment policy.
BID. The price at which a buyer offers to buy a security.
BROKER. A broker brings buyers and sellers together for a transaction for which the broker receives a
commission. A broker does not sell securities from his own position.
CALLABLE. A callable security gives the issuer the option to call it from the investor prior to its maturity. The
main cause of a call is a decline in interest rates. If interest rates decline since an issuer issues
securities, it will likely call its current securities and reissue them at a lower rate of interest. Callable
securities have reinvestment risk as the investor may receive its principal back when interest rates
are lower than when the investment was initially made.
CERTIFICATE OF DEPOSIT (CD). A time deposit with a specific maturity evidenced by a certificate. Large
denomination CDs may be marketable.
CERTIFICATE OF DEPOSIT ACCOUNT REGISTRY SYSTEM (CDARS). A private placement service that allows
local agencies to purchase more than $250, 000 in CDs from a single financial institution (must be
a participating institution of CDARS) while still maintaining FDIC insurance coverage. CDARS is
currently the only entity providing this service. CDARS facilitates the trading of deposits between
2020 -10 -14 Item #080 Page 63 of 82
the California institution and other participating institutions in amounts that are less than $250, 000
each, so that FDIC coverage is maintained.
COLLATERAL. Securities or cash pledged by a borrower to secure repayment of a loan or repurchase
agreement. Also, securities pledged by a financial institution to secure deposits of public monies.
COLLATERALIZED MORTGAGE OBLIGATIONS (CMO). Classes of bonds that redistribute the cash flows of
mortgage securities (and whole loans) to create securities that have different levels of prepayment
risk, as compared to the underlying mortgage securities.
COMMERCIAL PAPER. The short -term unsecured debt of corporations.
COST YIELD. The annual income from an investment divided by the purchase cost. Because it does not give
effect to premiums and discounts which may have been included in the purchase cost, it is an
incomplete measure of return.
COUPON. The rate of return at which interest is paid on a bond.
CREDIT RISK. The risk that principal and /or interest on an investment will not be paid in a timely manner due
to changes in the condition of the issuer.
CURRENT YIELD. The annual income from an investment divided by the current market value. Since the
mathematical calculation relies on the current market value rather than the investor's cost, current
yield is unrelated to the actual return the investor will earn if the security is held to maturity.
DEALER. A dealer acts as a principal in security transactions, selling securities from and buying securities
for his own position.
DEBENTURE. A bond secured only by the general credit of the issuer.
DELIVERY VS. PAYMENT (DVP). A securities industry procedure whereby payment for a security must be
made at the time the security is delivered to the purchaser's agent.
DERIVATIVE. Any security that has principal and /or interest payments which are subject to uncertainty (but
not for reasons of default or credit risk) as to timing and /or amount, or any security which represents
a component of another security which has been separated from other components ( "Stripped"
coupons and principal). A derivative is also defined as a financial instrument the value of which is
totally or partially derived from the value of another instrument, interest rate, or index.
DISCOUNT. The difference between the par value of a bond and the cost of the bond, when the cost is below
par. Some short -term securities, such as T -bills and banker's acceptances, are known as discount
securities. They sell at a discount from par, and return the par value to the investor at maturity
without additional interest. Other securities, which have fixed coupons, trade at a discount when
the coupon rate is lower than the current market rate for securities of that maturity and /or quality.
DIVERSIFICATION. Dividing investment funds among a variety of investments to avoid excessive exposure to
any one source of risk.
DURATION. The weighted average time to maturity of a bond where the weights are the present values of
the future cash flows. Duration measures the price sensitivity of a bond to changes in interest rates.
(See modified duration).
FEDERAL FUNDS RATE. The rate of interest charged by banks for short -term loans to other banks. The
Federal Reserve Bank through open- market operations establishes it.
FEDERAL OPEN MARKET COMMITTEE. A committee of the Federal Reserve Board that establishes monetary
policy and executes it through temporary and permanent changes to the supply of bank reserves.
LEVERAGE. Borrowing funds in order to invest in securities that have the potential to pay earnings at a rate
higher than the cost of borrowing.
LIQUIDITY. The speed and ease with which an asset can be converted to cash.
LOCAL AGENCY INVESTMENT FUND (LAIF). A voluntary investment fund open to government entities and
certain non - profit organizations in California that is managed by the State Treasurer's Office.
LOCAL GOVERNMENT INVESTMENT POOL. Investment pools that range from the State Treasurer's Office Local
Agency Investment Fund (LAIF) to county pools, to Joint Powers Authorities (JPAs). These funds
are not subject to the same SEC rules applicable to money market mutual funds.
MAKE WHOLE CALL. A type of call provision on a bond that allows the issuer to pay off the remaining debt
early. Unlike a call option, with a make whole call provision, the issuer makes a lump sum payment
that equals the net present value (NPV) of future coupon payments that will not be paid because
of the call. With this type of call, an investor is compensated, or "made whole. "
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MARGIN. The difference between the market value of a security and the loan a broker makes using that
security as collateral.
MARKET RISK. The risk that the value of securities will fluctuate with changes in overall market conditions
or interest rates.
MARKET VALUE. The price at which a security can be traded.
MARKING TO MARKET. The process of posting current market values for securities in a portfolio.
MATURITY. The final date upon which the principal of a security becomes due and payable.
MEDIUM TERM NoTEs. Unsecured, investment -grade senior debt securities of major corporations which are
sold in relatively small amounts on either a continuous or an intermittent basis. MTNs are highly
flexible debt instruments that can be structured to respond to market opportunities or to investor
preferences.
MODIFIED DURATION. The percent change in price for a 100 basis point change in yields. Modified duration
is the best single measure of a portfolio's or security's exposure to market risk.
MONEY MARKET. The market in which short -term debt instruments (T- bills, discount notes, commercial
paper, and banker's acceptances) are issued and traded.
MORTGAGE Pass - THROUGH SECURITIES. A securitized participation in the interest and principal cash flows
from a specified pool of mortgages. Principal and interest payments made on the mortgages are
passed through to the holder of the security.
MUNICIPAL SECURITIES. Securities issued by state and local agencies to finance capital and operating
expenses.
MUTUAL FUND. An entity which pools the funds of investors and invests those funds in a set of securities
which is specifically defined in the fund's prospectus. Mutual funds can be invested in various types
of domestic and /or international stocks, bonds, and money market instruments, as set forth in the
individual fund's prospectus. For most large, institutional investors, the costs associated with
investing in mutual funds are higher than the investor can obtain through an individually managed
portfolio.
NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATION (NRSRO).
A credit rating agency that the Securities and Exchange Commission in the United States uses
for regulatory purposes. Credit rating agencies provide assessments of an investment's risk. The
issuers of investments, especially debt securities, pay credit rating agencies to provide them with
ratings. The three most prominent NRSROs are Fitch, S &P, and Moody's.
NEGOTIABLE CD. A short -term debt instrument that pays interest and is issued by a bank, savings or federal
association, state or federal credit union, or state - licensed branch of a foreign bank. Negotiable
CDs are traded in a secondary market and are payable upon order to the bearer or initial depositor
(investor).
PREMIUM. The difference between the par value of a bond and the cost of the bond, when the cost is above
par.
PREPAYMENT SPEED. A measure of how quickly principal is repaid to investors in mortgage securities.
PREPAYMENT WINDOW. The time period over which principal repayments will be received on mortgage
securities at a specified prepayment speed.
PRIMARY DEALER. A financial institution (1) that is a trading counterparty with the Federal Reserve in its
execution of market operations to carry out U.S. monetary policy, and (2) that participates for
statistical reporting purposes in compiling data on activity in the U. S. Government securities market.
PRUDENT PERSON PRUDENT INVESTOR RULE. A standard of responsibility which applies to fiduciaries. In
California, the rule is stated as 'Investments shall be managed with the care, skill, prudence and
diligence, under the circumstances then prevailing, that a prudent person, acting in a like capacity
and familiar with such matters, would use in the conduct of an enterprise of like character and with
like aims to accomplish similar purposes."
REALIZED YIELD. The change in value of the portfolio due to interest received and interest earned and
realized gains and losses. It does not give effect to changes in market value on securities, which
have not been sold from the portfolio.
REGIONAL DEALER. A financial intermediary that buys and sells securities for the benefit of its customers
without maintaining substantial inventories of securities and that is not a primary dealer.
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REPURCHASE AGREEMENT. Short -term purchases of securities with a simultaneous agreement to sell the
securities back at a higher price. From the seller's point of view, the same transaction is a reverse
repurchase agreement.
SAFEKEEPING. A service to bank customers whereby securities are held by the bank in the customer's name.
STRUCTURED NOTE. A complex, fixed income instrument, which pays interest, based on a formula tied to
other interest rates, commodities or indices. Examples include inverse floating rate notes which
have coupons that increase when other interest rates are falling, and which fall when other interest
rates are rising, and "dual index floaters, " which pay interest based on the relationship between
two other interest rates - for example, the yield on the ten -year Treasury note minus the Libor rate.
Issuers of such notes lock in a reduced cost of borrowing by purchasing interest rate swap
agreements.
SUPRANATIONAL. A Supranational is a multi - national organization whereby member states transcend
national boundaries or interests to share in the decision making to promote economic development
in the member countries.
TOTAL RATE OF RETURN. A measure of a portfolio's performance over time. It is the internal rate of
return, which equates the beginning value of the portfolio with the ending value; it includes interest
earnings, realized and unrealized gains, and losses in the portfolio.
U.S. TREASURY OBLIGATIONS. Securities issued by the U.S. Treasury and backed by the full faith and credit
of the United States. Treasuries are considered to have no credit risk, and are the benchmark for
interest rates on all other securities in the US and overseas. The Treasury issues both discounted
securities and fixed coupon notes and bonds.
TREASURY BILLS. All securities issued with initial maturities of one year or less are issued as discounted
instruments, and are called Treasury bills. The Treasury currently issues three- and six -month T-
bills at regular weekly auctions. It also issues "cash management" bills as needed to smooth out
cash flows.
TREASURY NOTES. All securities issued with initial maturities of two to ten years are called Treasury notes,
and pay interest semi - annually.
TREASURY BONDS. All securities issued with initial maturities greater than ten years are called Treasury
bonds. Like Treasury notes, they pay interest semi - annually.
VOLATILITY. The rate at which security prices change with changes in general economic conditions or the
general level of interest rates.
YIELD TO MATURITY. The annualized internal rate of return on an investment which equates the expected
cash flows from the investment to its cost.
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Attachment 4
CITY OF ENCINITAS
ADMINISTRATIVE MANUAL
Policy Title: Investment Policy Section: Finance
Responsible Department Finance Number: Admin Policy F019
Approved By. • City Council Date Approved. 1994
Last Amended. October 14, 2020
/.
11
Philosophy
The Investment Policy of the Encinitas City Council for the City of Encinitas represents the financial
guidelines for the City's Investment Program. It is the policy of the City of Encinitas to invest excess
public funds in a prudent manner that safeguards the public trust, minimizes the risk of loss of capital,
and provides assurance that all financial obligations will be met in the regular course of business. The
City Council shall provide direction to the City Treasurer as to the goals and specific objectives of the
Investment Program.
Scope
This Investment Policy applies to all financial assets under the oversight of the City of Encinitas, except
bond proceeds held by outside trustees and funds held by other governmental agencies. The City of
Encinitas includes the City and all component units: the Encinitas Housing Authority (EHA), the
Encinitas Public Financing Authority (EPFA), and the San Dieguito Water District (SDWD). These
funds are accounted for in the City of Encinitas' Comprehensive Annual Financial Report and include:
GENERALFUND
SPECIAL REVENUE FUNDS
CAPITAL PROJECT FUNDS
ENTERPRISE FUNDS
INTERNAL SERVICE FUNDS
This policy also applies to funds that the City manages for other governmental agencies. Currently,
the City manages funds for the Encinitas Ranch Golf Authority (ERGA), a legally separate joint powers
authority which is not a component unit of the City.
The investment of Bond Proceeds held with trustees is directed by the City, but is governed by the
restrictions on Permitted Investments in the applicable Bond Indenture agreements.
A portion of City funds is held by other governmental agencies. These funds are invested under the
guidelines of the investment policies of those agencies.
The City retirement plan is with CALPERS, and the City has no authority or oversight over the
investments in any of those plans. Further, the City administers several deferred compensation plans.
Assets held in those plans are held in trust for the participants, and are not assets of the City. The
City does not have any authority over the investments held in these trusts.
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III. Prudence
Investments shall be made with reasonable financial judgment and care, under circumstances then
prevailing, which persons of prudence, discretion and intelligence exercise in the management of their
own affairs, not for speculation, but for investment, considering the probable safety of their capital as
well as the probable income to be derived.
The standard of prudence to be used by investment officials shall be the `prudent investor" standard.
California Gov't Code 53600.3 states that, "When investing, reinvesting, purchasing, acquiring,
exchanging, selling or managing public funds, a trustee shall act with care, skill, prudence, and
diligence under the circumstances then prevailing, including, but not limited to, the general economic
conditions and the anticipated needs of the Agency, that a prudent person acting in a like capacity and
familiarity with those matters would use in the conduct of funds of a like character and with like aims,
to safeguard the principal and maintain the liquidity needs of the Agency. The standard shall be
applied in the context of managing an overall portfolio. Investment officials acting in accordance with
established procedures and exercising due prudence shall be relieved of personal responsibility for an
individual security's credit risk or market price changes.
IV. Investment Objectives
A. Safety of Principal - the first objective of this policy is to ensure the safety of principal. The
portfolio shall be planned and managed to minimize the risk of actual loss of principal. Principal is
defined as the original purchase price of the security, excluding any purchase of accrued interest, up
to the par (face) value of the security. Any purchase amount above par value (premium) is considered
to be a purchase of accrued interest, and is excluded from the calculation of principal amount. The
City Treasurer shall consider both credit risk and concentration risk (the concept of diversification)
when assessing safety, and shall follow the guidelines outlined later in this policy to achieve that
objective.
B. Li uid' - The second objective is the maintenance of sufficient liquidity to meet all operating
and capital spending requirements that can be reasonably anticipated.
C. Return on investments - The third objective is yield, specifically, attaining a market rate of
return over time, consistent with Council direction as to acceptable levels of risk. Refer to Section XV
below for further discussion of performance measurement.
V. Delegation of Authority
In accordance with the California Government Code, Section 53607, the City Council hereby
delegates the authority to invest or reinvest the City's funds, to sell or exchange securities purchased,
and to deposit securities for safekeeping to the City Treasurer. Encinitas Municipal Code Chapter
2.28 designates that the Director of Finance shall serve as City Treasurer. The City Treasurer has
the option to delegate some, or all, of the duties described in this Policy to other qualified individuals
within the organization.
Investment Procedures
The City Treasurer is responsible for establishing written investment procedures for the management
and operation of the Investment Program, consistent with this Policy. Those procedures shall include
reference to such items as: custody /safekeeping, repurchase agreements (if applicable), wire transfer
agreements, banking service agreements, and explicit delegation of authority to personnel involved
in the processing of banking or investment transactions. No person may engage in any investment
transaction except as provided under the terms of this Policy and the established procedures.
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VI. Ethics, & Conflict of Interest
The investment responsibility carries with it the responsibility of ensuring that investments placed are
done so without improper influence or the appearance of improper influence. All officers and
employees (officials) involved in the investment function shall adhere to the State's Code of Economic
Interest and to the following:
Officials shall refrain from personal business activity that could conflict with proper and impartial
execution of the Investment Program, or that could impair their ability to make impartial investment
decisions. Further, officials shall not personally or through a close relative maintain any accounts,
interest, or private dealings with any firm with which the City places investments, with the exception
of regular savings, checking and money market accounts, or other similar transactions that are offered
on a non - negotiable basis to the general public. Any such relationships shall be disclosed annually
to the City Clerk in conjunction with annual disclosure statements of economic interest.
VII. Authorized Financial Dealers and Institutions
The City Treasurer shall maintain a list of qualfed financial institutions authorized to provide financial
or investment services to the City.
The City shall contract with one institution to provide general banking services, which shall be
reviewed at least every five years. City Council shall approve the selected institution and the
contract for banking services.
The City shall contract with one institution to provide investment custody services, which shall be
reviewed at least every five (5) years. City Council shall approve the selected institution and the
contract for custody services.
The City Treasurer shall maintain a list of qualified security broker - dealers authorized to provide
financial or investment services to the City. To be eligible for consideration to become an authorized
provider, each Broker /Firm shall meet the following MINIMUM requirements:
(1) have a net capital position in excess of $10 million,
(2) have been in business for at least five years,
(3) are currently licensed as a broker - dealer or investment adviser in California, and
(4) Must carry adequate insurance coverage including liability, errors and omissions, and
workers compensation (if applicable.)
Firms providing only representation of money market funds are exempt for requirement #1, but must
still comply with all other requirements, including those listed below.
The City Council shall approve the initial authorization of any broker - dealer. Authorized firms shall
be notified by the City Treasurer via an engagement letter, which outlines each parties'responsibilities
(primarily the continuing compliance requirements discussed directly below). There is no contract for
professional services or term to the engagement. The City Treasurer shall periodically evaluate the
performance of all qualified broker - dealers, and determine if any changes need to be made.
All broker - dealers authorized to do business with the City of Encinitas must also comply with the
following requirements.
(1) Firms must submit audited financial statements annually, within six months of their fiscal
year -end,
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(2) Firms must provide proof of their Financial Industry Regulatory Authority (FINRA)
certification, and must disclose to the City immediately any regulatory actions or complaints
against the broker assigned to the City account,
(3) Firms must provide proof of their registration /license to do business in the State of California,
and shall immediately disclose to the City any change in that status.
(4) Firms must certify in writing that they have received, read, and agree to comply with the City
of Encinitas' most recently adopted Investment Policy.
Vlll. Authorized & Suitable Investment Instruments
As a unit of local government in the State of California, the City of Encinitas is restricting itself to
the investments authorized by Government Code, Sections 16429.1, 27133 and Sections 53600
through 53635 (the Gov't "Code') except as otherwise provided herein by specific additional
Council actions.
SPECIFIC INVESTMENT TYPES AND AMOUNTS - The City Treasurer is authorized to invest in
only the following types of investments listed below in Section Vlll.
INVESTMENT ALLOCATIONS - The State Law Maximum allocations listed below refer to the
percentage of the total portfolio or dollar amount that may be invested in each instrument under the
provisions of the Gov't Code. The Investment Policy Maximum allocations refer to maximum
allocations the City Treasurer follows, in order to effect proper diversification of the portfolio and
limit concentration risk. The City Treasurer is permitted to exceed these maximum allocations for
temporary periods. Any asset allocation that exceeds the Investment Policy Maximum allocation
for a period of more than three months shall be reported to the City Manager.
For purposes of calculating the percentage allocations, the assumption will be applied that the size
of the portfolio for any fiscal year shall be determined by the total par value of the portfolio at the
beginning of the first day of the fiscal year. Any investment types that exceed the maximum
allowable under the Gov't Code shall be reported to the City Council in the quarterly investment
report.
(1)
(2)
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
Repurchase agreements NO LIMIT 20%
This type of investment is only authorized in relation to the City's general banking
arrangements, in which excess cash balances are "swept" into an interest earning
account overnight. Maximum maturity is one year. All balances are required to be
properly collateralized at 102% of par value in accordance with State requirements.
CA Local Agency Inv Fund (LAIF) STATE LAW MAXIMUM 30
The `STATE LAW MAXIMUM" refers to the LAIF limit on maximum deposits perlocal
agency, not to the CA govt code restrictions. The City of Encinitas maintains two
accounts with the LAIF, one in the name of the City and the other in the name of the
San Dieguito Water District. Each account has a deposit limit of the maximum
amount allowed by CA state law. Since San Dieguito Water District is a component
2020 -10 -14 Item #080 Page 70 of 82
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
unit of the City, the City may legally utilize the SDWD account in the operation of the
City Pool. Thus, SDWD owns its ratable share of all City Pooled investments, but
does not have a direct ownership interest in the LAIF account in its name.
(3) Other GovY Managed Pools NO LIMIT 30%
Per Issuer 10% per Pool
Investments in individual pools shall be limited to 10% of the total portfolio. Currently
approved pools are the San Diego County Investment Pool and the California Asset
Management Program (CAMP). The City Council must approve the addition of any
other governmental pools.
(4) Mutual Funds and Money Market Mutual Funds (Tota9
20% 20%
Per Issuer 10% 10
(A) Money Market Mutual Funds N/A 20%
Perlssuer N/A 10%
Qualifying funds must meet one of the following criteria: (1) Attained the highest
ranking or the highest letter and numerical rating provided by not less than two
nationally recognized statistical rating organizations, OR (2) Retained an Investment
Advisor registered or exempt from registration with the SEC with not less than five
years' experience managing money market mutual funds with assets under
management in excess of $500 million.
(B) Mutual Funds N/A 10%
Perlssuer N/A 5%
A mutual fund must receive the highest ranking by not less than two nationally
recognized rating agencies or the fund must retain an investment advisor who is
registered with the SEC (or exempt from registration), has assets under
management in excess of $500 million, and has at least five years experience
investing in instruments authorized by California Government Code sections 53601
and 53635.
(5) Certificates of Deposit (CD's) NO LIMIT 10%
Perlssuer NO LIMIT 5%
All CD's must be either insured by the FDIC or properly collateralized, pursuant to
Section X below. Maturity shall not exceed five years. No more than 5% of the total
account value per issuer. To be eligible to receive deposits from the City of Encinitas,
each qualified financial institution must have received an overall rating of not less than
"satisfactory" in its most recent evaluation by regulators of its record of meeting the
credit needs of its community.
2020 -10 -14 Item #080 Page 71 of 82
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
(6) Negotiable Certificates of Deposit 30%
Per Issuer
10%
5%
All Negotiable CD's must be issued by a provider rated either: (1) Aaa by Moody's,
(2) AAA by Standard & Poors, or (3) Aa 1 by Moody's and AA+ by Standard & Poor's.
Investments of $250,000 or less that are fully insured by the FDIC are exempt from
the above credit rating requirements. Maturity shall not exceed five years. No more
than 5% of the total account value per issuer.
(7) Bankers Acceptances 40%
Perlssuer 30%
(8)
(9)
10%
5%
Bankers Acceptances (BA's) represent a time draft drawn on and accepted by a
Bank for payment of the shipment or storage of merchandise. They are generally
considered a very safe investment since both the credit of the issuer and the Bank
is pledged for repayment. They must not exceed 180 days maturity. BA's must have
an underlying credit rating of Al /P1, and are limited to 5% of the total account value
per issuer.
U. S. Treasury Bills, Notes and Bonds
U.S. Government-Sponsored Agencies
Per Issuer
NO LIMIT 50%
NO LIMIT 60%
25%
City shall invest primarily in securities issued by Federal Home Loan Bank (FHLB),
Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage
Corporation (FHLMC), and Federal Farm Credit Bureau (FFCB). City may invest in
Private Equity Funding Corporation (PEFCO) and Tennessee Valley Authority
(TVA); however, the overall limit of 60% still applies. City may also invest in the
Government National Mortgage Association, but only via authorized Mutual Funds
cited in Category 5 above, and subject to those limitations.
(10) Commercial Paper 25%
Per Issuer (see below
25%
5%
Commercial Paper (CP) is a short -term 1. 0. U. issued by large corporations of high
credit standing which is unsecured. Investments are limited to only `prime quality"
CP issued with the highest letter and number rating provided by one of the two
nationally recognized rating agencies. City limits itself only to CP rated A -1 or better
by Standard & Poors and P -1 by Moodys. Issuing corporations must be (1)
organized and operating within the United States, (2) have total assets in excess of
$500 million, and (3) have a `A "or higher rating for the issuers other debt obligations.
Organized and operating within the United States includes global companies that
sponsor United States commercial paper programs. City may not purchase more
than 5% of outstanding commercial paper of any single corporate issuer. The
maximum allowable maturity is 270 days or less.
2020 -10 -14 Item #080 Page 72 of 82
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
(11) Commercial Medium -Term Notes 30% 15%
Per Issuer 5%
Medium -Term Notes are defined as all corporate and depository institution debt
securities with a maximum remaining maturity of five years or less, issued by
corporations organized and operating in the United States or by depository
institutions licensed by the United States. State Code requires a credit rating of A"
or better by one nationally recognized rating agency. The City is further limiting itself
to notes that are rated Aa3 or better (Moody's) and AA- or better (S & P).
(12) Guaranteed Investment Contracts None 10%
Per Issuer 5%
Guaranteed Investment Contracts (GIC's) are corporate obligations similar to
medium -term notes, but are issued directly to the Agency by the issuer in the form
of an investment contract. They are generally longer term in nature. They are
generally utilized for the investment of bond proceeds, but may be utilized for the
investment of Pooled funds. Uncollateralized GIC's are permitted only with issuers
rated Aaa (Moody's) and /or AAA (Standard & Poors) Collateralized GIC's are
permitted with issuers rated Aa2 or better (Moody's) and AA or better (Standard &
Poors). No more than $5 million per issuer.
(13) Demand Deposits (non - interest bearing) None 0-2%
Per Issuer 0-2%
Non - interest bearing demand deposits with a financial institution approved to do
business with the City shall be an allowable investment for the City Pool. These
types of accounts are necessary to carry on the regular day -to -day financial
operations of the City, must be collateralized, and are reported as `cash" on the
monthly investment reports. When available, the City Treasurer shall execute a
"sweep arrangement" with the designated financial institution, to provide for excess
overnight balances to earn interest.
(14) Demand Deposits (interest bearing) None 20%
Per Issuer 10
Interest - bearing demand deposits with a financial institution approved to do business
with the City shall be an allowable investment for the City Pool. These types of
accounts generally serve as an alternative to bank certificates of deposit, and have
a stated minimum balance requirement. These types of accounts require a separate
agreement with the financial institution, and must be fully collateralized as Public
Deposits under California law. In addition, some part of the deposit (currently
$250,000) may be insured by the Federal Deposit Insurance Corporation (FDIC) in
lieu of collateralization.
2020 -10 -14 Item #080 Page 73 of 82
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
(15) Asset-Backed Securities 20% 10
Per Issuer 5%
These securities consist of Traditional Asset - Backed, Mortgage- Backed, Mortgage
Pass - Through Securities, and Collateralized Mortgage Obligations. They are
permitted given that the securities are rated in a rating category of AA" or its
equivalent or better by a NRSRO and have a maximum remaining maturity of five
years or less. No more than 10% of the total portfolio may be invested in these
securities. No more than 5% of the portfolio may be invested in any single Asset -
Backed or Commercial Mortgage security issuer. There is no issuer limitation on
any mortgage security where the issuer is the U.S. Treasury or a Federal
Agency /GSE.
(16) Supranationals 30% 20%
Per Issuer 15%
Supranational issues are U. S. dollar denominated senior unsecured unsubordinated
obligations issued or unconditionally guaranteed by the International Bank for
Reconstruction and Development, International Finance Corporation, or Inter -
American Development Bank. They are permitted if rated in a rating category of
AA "or its equivalent or better by a NRSRO. No more than 20% of the total portfolio
may be invested in these securities. No more than 15% of the portfolio may be
invested in any single issuer. The maximum maturity does not exceed five years.
2020 -10 -14 Item #080 Page 74 of 82
SUMMARY TABLE of INVESTMENT ALLOCATIONS
The State of California Government Code restricts local agencies from investing in securities with
final maturity dates greater than five (5) years, except as specifically authorized by the City Council.
This Policy authorizes two specific exceptions to the above restriction.
(1)
The City may invest in up to $5 million (par value) of securities (at date of purchase)
rated AAA or equivalent by either S &P or Moody's with maturities of greater than five
(5) years, but not exceeding seven (7) years.
2020 -10 -14 Item #080 Page 75 of 82
STATE LAW
INV POLICY
(1)
REPURCHASE AGREEMENTS
NO LIMIT
20%
(2)
CALIFORNIA LAIF
NO LIMIT
30%
(3)
OTHER GOVT POOLS
NO LIMIT
30%
Per Issuer
10%
(4)
MUTUAL FUNDS TOTAL
20%
20%
Per Issuer
10%
10%
(4 -A) Money Market Mutual Funds
N/A
20%
Per Issuer
N/A
10%
(4 -B) Mutual Funds
N/A
10%
Per Issuer
N/A
5%
(5)
CD's
NO LIMIT
10%
Per Issuer
5%
(6)
NEGOTIABLE CD's
30%
10
Per Issuer
5%
(7)
BANKERS ACCEPTANCES
40%
10
Per Issuer
30%
5%
(8)
U.S. TREASURYS
NO LIMIT
50%
(9)
U.S. FEDERAL AGENCIES
NO LIMIT
60%
Per Issuer
25%
(10)
COMMERCIAL PAPER
25%
25
Per Issuer
5%
(11)
COMMERCIAL MTN NOTES
30%
15%
Per Issuer
5%
(12)
GIC's
NO LIMIT
10%
Per Issuer
5%
(13)
Demand Deposits (non - interest bearing)
NO LIMIT
0 -2%
Per Issuer
0 -2%
(14)
Demand Deposits (interest bearing)
NO LIMIT
20%
Per Issuer
10%
(15)
Asset-Backed Securities
20%
10%
Per Issuer
5%
(16)
Supranationals
30%
20%
Per Issuer
15%
The State of California Government Code restricts local agencies from investing in securities with
final maturity dates greater than five (5) years, except as specifically authorized by the City Council.
This Policy authorizes two specific exceptions to the above restriction.
(1)
The City may invest in up to $5 million (par value) of securities (at date of purchase)
rated AAA or equivalent by either S &P or Moody's with maturities of greater than five
(5) years, but not exceeding seven (7) years.
2020 -10 -14 Item #080 Page 75 of 82
(2) The City's General Contingency Reserve is not a part of normal operating reserves,
and the related funds are not expected to be utilized in the foreseeable future, thus,
the likelihood of liquidation is very small. The objective(s) of investment in this area
are to maximize earnings with safety, while recognizing that liquidity is less of an
issue than with operating or capital funds. Consistent with these objectives, the City
Treasurer is authorized to invest contingency funds in securities rated AAA or
equivalent with maturities greater than seven (7) years that have a ready market
should the need arise to liquidate the investment.
The City Council has directed the City Treasurer not to invest in securities of companies involved in
the production of tobacco, alcohol related products, or fossil fuel companies. The City recognizes
that, due to the extreme complexity of today's corporate structures, it is possible that investments
may be placed in good faith in corporations that have an interest in tobacco, alcohol related products
or fossil fuel companies that is not widely known or properly disclosed by those corporations. The
City Treasurer shall make his /her best efforts, including notice to broker /dealers, to assure that any
corporate investments are placed with companies who are not in the tobacco, alcohol, or fossil fuel
business. This policy applies at the time of purchase only.
Certain investments are specifically prohibited by the State Code. Local Agencies may not invest in
the following: Inverse floating -rate notes, range notes, or mortgage- derived interest -only strips. The
Code also states that A local Agency shall not invest in any security that could result in zero interest
accrual if held to maturity." The City's interpretation of this Code section is that it does not prohibit
investment in U.S. Treasury or Federal Agency securities which carry a variable rate of interest;
because the chance that such notes could result in zero interest accrual to maturity is remote.
IX. Due Diligence Requirements for Investment Pools, Mutual Funds, and CD's
Investments of these types are authorized in Section Vlll. above. Before investing any funds in pools
or mutual funds, the City Treasurer shall perform a thorough investigation of the fund(s) to determine
the suitability of the investment for the City of Encinitas Pooled Investment Fund. This investigation
shall include, at a minimum: review of the Funds investment policy and /or prospectus, a review of the
performance history of the Fund, review of ratings (where applicable), review of the latest published
portfolio composition, review of fees and charges, and references from other agencies who invest in
the Fund.
The City Treasurer shall monitor placement of Certificates of Deposit with financial institutions on a
regular basis. Compliance with collateral requirements shall be monitored (if applicable).
X. Collateralization of Public Deposits
Collateralization will be required on two types of investments: demand and timed deposits (which are
not fully insured by FDIC) and repurchase agreements. The City Treasurer has agreed to waive
collateral requirements on the first $250, 000 of CD's from each institution, which are insured by FDIC.
In order to anticipate market changes and provide a level of security for all invested funds, the required
collateralization levels will be:
(1) Overnight repurchases 102% of market value
(2) Timed Deposits in accordance with CA law regarding Public Deposits
(3) Demand Deposits in accordance with CA law regarding Public Deposits
Collateral must be held by an independent third party with whom the entity has a current custodial
agreement. Collateral for overnight repurchases (sweep agreements) may be held by the Trust
2020 -10 -14 Item #080 Page 76 of 82
Department of the institution providing such sweep services. Sweep contracts shall provide for a
perfected security interest for the City in collateralized securities.
Collateral shall be provided by the issuing institution in accordance and compliance with the California
Gov't Code Sections 53630 et al. Issuing institution is responsible for compliance with all collateral
requirements, and must provide the City periodic evidence of that compliance, in a form acceptable
to the City.
XI. Safekeeping and Custody
All security transactions entered into by the City shall be conducted on a delivery- versus - payment
(DVP) basis. Securities shall be held by an independent third -party custodian approved by the City
Council. All broker - dealers shall send a transaction confirmation to the City Treasurer, and all security
transactions confirmations shall be treated as a "Vital Record" by City personnel and kept safe per
the requirements of City policy on Vital Records. Broker - dealers shall also send a monthly activity
statement to the City showing all transactions entered into in the period. No City securities or cash
will be held by any broker - dealer. The custodian sends a monthly statement to the City Treasurer
covering all investment activity handled by that institution.
XII. Diversification
The City will diversify its investments by security type and institution, to avoid incurring unreasonable
risks inherent in over - investing in specific instruments or individual financial institutions. This Policy
sets limits on maximum allocations by investment type and by issuer. Refer to Section VIII. above
for a listing of authorized investments and the maximum allocation by type of investment. Section
VIII. also details specific limitations per issuer. For purposes of this Policy, those limits each apply to
the overall portfolio.
Xlll. Maximum Maturities
To the extent possible, the City of Encinitas will attempt to match its investments with anticipated cash
flow requirements, after taking into consideration interest rate (market) risk and the potential benefits
of extending investment maturities. The City conforms to the California Gov't Code requirements
limiting investments in notes to five (5) years, subject to the exceptions cited in Section VIII. This
relates principally to funds classified as reserves, which may be invested in specified instruments with
maturities greater than five (5) years.
XIV. Internal Control
The City Treasurer shall establish a system of internal controls over all cash management and
investment transactions, designed to provide reasonable assurance that assets are safeguarded and
that all transactions are properly and timely recorded.
The City's independent auditor shall annually review the system of internal controls and report any
deficiencies and /or suggestions for improvements to the Director of Finance /City Treasurer. Any
confirmed significant deficiencies shall be reported to the City Manager and City Council in writing,
along with the City's response to the audit findings.
2020 -10 -14 Item #080 Page 77 of 82
XV. Performance Standards:
The City has determined that periodic quantitative measurement of investment portfolio performance
is an important component of the overall monitoring of the investment program. As stated in Section
IV(C) above, the performance objective of the Program is attaining a market rate of return over time
consistent with the overall risk tolerance of the organization.
The City Treasurer is charged with determining an appropriate benchmark by which to measure
periodic performance. The chosen benchmark shall be designed to match as closely as practicable
the City's tolerance for investment risk. Utilization of the benchmark and analysis of actual
performance vs. the benchmark represent an important risk management tool, and analysis of
significant variations shall be reported to the City Council in a timely manner. At the same time, it is
recognized that the benchmark represents a guideline only, and that performance may vary,
especially over relatively short time periods. A timeframe of 2 -3 years is considered to be the
minimum time period necessary for judging overall performance, due to changing market conditions,
cash flow requirements and the fact that no chosen performance benchmark will exactly mirror the
City's portfolio.
Attaining a market rate of return overtime shall be measured and reported to the City Council, at least
quarterly, via the utilization of the following benchmark to measure performance.
The one (J year constant maturity Treasury index
Any change to the above performance benchmark shall be reported to the City Council during the
City Treasurer's quarterly investment report.
The City Treasurer shall report performance on a quarterly basis based on the book yield (standard
income) approach. Book yield calculates the earnings on an investment based on actual interest
earned during any reporting period, including the accretion of purchase discounts and /or the
amortization of purchase premiums. The City Treasurer shall also report the estimated market value
of investments held (as provided by a third -party data provider) with each periodic report. The City no
longer reports investment income on a total return basis each fiscal year (the alternative method
presented in Gov't Actg. Standards Board (GASB) Statement No. 31) as the results over time are
roughly comparable.
XVI. Investment Accounting and Reporting
The City Treasurer shall prepare (or have prepared) monthly investment reports sufficient to properly
track and record all investment transactions and activity. The City Treasurer shall report investment
positions and results of the Pooled Investment Fund to the City Council at least quarterly, in a form
acceptable to the City Council. These reports shall either be presented as an Agenda Report or as a
memo report to the City Council members, at the discretion of the City Manager. The City Treasurer
shall report positions and results of the Pooled Investment Fund and the Investment of Bond
Proceeds annually to the City Council at a Public Meeting. Detailed annual reports of the Pooled
Investment Fund shall be made available on the City's website for public review.
XVII. Investment Policy Adoption:
The Investment Policy shall be reviewed and adopted by the City Council at a Public Meeting at least
annually, regardless of whether there are any proposed changes to the Policy. The Policy shall be
posted for public review on the City's website (www.encinitasca.gov) under Departments/Finance.
2020 -10 -14 Item #080 Page 78 of 82
Any typographical errors of other minor errors or inconsistencies shall be investigated and interpreted by the
City Treasurer, who shall then seek the concurrence of the City Manager before making any changes to
policies or procedures.
XVIII. Glossary of Investment Terms
AGENCIES. Shorthand market terminology for any obligation issued by a government- sponsored entity
(GSE), or a federally related institution. Most obligations of GSEs are not guaranteed by the full
faith and credit of the US government. Examples are:
FFCB. The Federal Farm Credit Bank System provides credit and liquidity in the agricultural
industry. FFCB issues discount notes and bonds.
FHLB. The Federal Home Loan Bank provides credit and liquidity in the housing market. FHLB
issues discount notes and bonds.
FHLMC. Like FHLB, the Federal Home Loan Mortgage Corporation provides credit and liquidity in
the housing market. FHLMC, also called "FreddieMac" issues discount notes, bonds and
mortgage pass- through securities.
FNMA. Like FHLB and FreddieMac, the Federal National Mortgage Association was established to
provide credit and liquidity in the housing market. FNMA, also known as "FannieMae," issues
discount notes, bonds and mortgage pass- through securities.
GNMA. The Government National Mortgage Association, known as "GinnieMae, " issues mortgage
pass- through securities, which are guaranteed by the full faith and credit of the US
Government.
PEFCO. The Private Export Funding Corporation assists exporters. Obligations of PEFCO are not
guaranteed by the full faith and credit of the US government.
TVA. The Tennessee Valley Authority provides flood control and power and promotes development
in portions of the Tennessee, Ohio, and Mississippi River valleys. TVA currently issues discount
notes and bonds.
ASKED. The price at which a seller offers to sell a security.
ASSET BACKED SECURITIES. Securities supported by pools of installment loans or leases or by pools of
revolving lines of credit.
AVERAGE LIFE. In mortgage- related investments, including CMOs, the average time to expected receipt of
principal payments, weighted by the amount of principal expected.
BANKER'S ACCEPTANCE. A money market instrument created to facilitate international trade transactions. It
is highly liquid and safe because the risk of the trade transaction is transferred to the bank which
"accepts" the obligation to pay the investor.
BENCHMARK. A comparison security or portfolio. A performance benchmark is a partial market index, which
reflects the mix of securities allowed under a specific investment policy.
BID. The price at which a buyer offers to buy a security.
BROKER. A broker brings buyers and sellers together for a transaction for which the broker receives a
commission. A broker does not sell securities from his own position.
CALLABLE. A callable security gives the issuer the option to call it from the investor prior to its maturity. The
main cause of a call is a decline in interest rates. If interest rates decline since an issuer issues
securities, it will likely call its current securities and reissue them at a lower rate of interest. Callable
securities have reinvestment risk as the investor may receive its principal back when interest rates
are lower than when the investment was initially made.
CERTIFICATE OF DEPOSIT (CD). A time deposit with a specific maturity evidenced by a certificate. Large
denomination CDs may be marketable.
CERTIFICATE OF DEPOSIT ACCOUNT REGISTRY SYSTEM (CDARS). A private placement service that allows
local agencies to purchase more than $250, 000 in CDs from a single financial institution (must be
a participating institution of CDARS) while still maintaining FDIC insurance coverage. CDARS is
currently the only entity providing this service. CDARS facilitates the trading of deposits between
2020 -10 -14 Item #080 Page 79 of 82
the California institution and other participating institutions in amounts that are less than $250, 000
each, so that FDIC coverage is maintained.
COLLATERAL. Securities or cash pledged by a borrower to secure repayment of a loan or repurchase
agreement. Also, securities pledged by a financial institution to secure deposits of public monies.
COLLATERALIZED MORTGAGE OBLIGATIONS (CMO). Classes of bonds that redistribute the cash flows of
mortgage securities (and whole loans) to create securities that have different levels of prepayment
risk, as compared to the underlying mortgage securities.
COMMERCIAL PAPER. The short -term unsecured debt of corporations.
COST YIELD. The annual income from an investment divided by the purchase cost. Because it does not give
effect to premiums and discounts which may have been included in the purchase cost, it is an
incomplete measure of return.
COUPON. The rate of return at which interest is paid on a bond.
CREDIT RISK. The risk that principal and /or interest on an investment will not be paid in a timely manner due
to changes in the condition of the issuer.
CURRENT YIELD. The annual income from an investment divided by the current market value. Since the
mathematical calculation relies on the current market value rather than the investor's cost, current
yield is unrelated to the actual return the investor will earn if the security is held to maturity.
DEALER. A dealer acts as a principal in security transactions, selling securities from and buying securities
for his own position.
DEBENTURE. A bond secured only by the general credit of the issuer.
DELIVERY VS. PAYMENT (DVP). A securities industry procedure whereby payment for a security must be
made at the time the security is delivered to the purchaser's agent.
DERIVATIVE. Any security that has principal and /or interest payments which are subject to uncertainty (but
not for reasons of default or credit risk) as to timing and /or amount, or any security which represents
a component of another security which has been separated from other components ( "Stripped"
coupons and principal). A derivative is also defined as a financial instrument the value of which is
totally or partially derived from the value of another instrument, interest rate, or index.
DISCOUNT. The difference between the par value of a bond and the cost of the bond, when the cost is below
par. Some short -term securities, such as T -bills and banker's acceptances, are known as discount
securities. They sell at a discount from par, and return the par value to the investor at maturity
without additional interest. Other securities, which have fixed coupons, trade at a discount when
the coupon rate is lower than the current market rate for securities of that maturity and /or quality.
DIVERSIFICATION. Dividing investment funds among a variety of investments to avoid excessive exposure to
any one source of risk.
DURATION. The weighted average time to maturity of a bond where the weights are the present values of
the future cash flows. Duration measures the price sensitivity of a bond to changes in interest rates.
(See modified duration).
FEDERAL FUNDS RATE. The rate of interest charged by banks for short -term loans to other banks. The
Federal Reserve Bank through open- market operations establishes it.
FEDERAL OPEN MARKET COMMITTEE. A committee of the Federal Reserve Board that establishes monetary
policy and executes it through temporary and permanent changes to the supply of bank reserves.
LEVERAGE. Borrowing funds in order to invest in securities that have the potential to pay earnings at a rate
higher than the cost of borrowing.
LIQUIDITY. The speed and ease with which an asset can be converted to cash.
LOCAL AGENCY INVESTMENT FUND (LAIF). A voluntary investment fund open to government entities and
certain non - profit organizations in California that is managed by the State Treasurer's Office.
LOCAL GOVERNMENT INVESTMENT POOL. Investment pools that range from the State Treasurer's Office Local
Agency Investment Fund (LAIF) to county pools, to Joint Powers Authorities (JPAs). These funds
are not subject to the same SEC rules applicable to money market mutual funds.
MAKE WHOLE CALL. A type of call provision on a bond that allows the issuer to pay off the remaining debt
early. Unlike a call option, with a make whole call provision, the issuer makes a lump sum payment
that equals the net present value (NPV) of future coupon payments that will not be paid because
of the call. With this type of call, an investor is compensated, or "made whole. "
2020 -10 -14 Item #080 Page 80 of 82
MARGIN. The difference between the market value of a security and the loan a broker makes using that
security as collateral.
MARKET RISK. The risk that the value of securities will fluctuate with changes in overall market conditions
or interest rates.
MARKET VALUE. The price at which a security can be traded.
MARKING TO MARKET. The process of posting current market values for securities in a portfolio.
MATURITY. The final date upon which the principal of a security becomes due and payable.
MEDIUM TERM NoTEs. Unsecured, investment -grade senior debt securities of major corporations which are
sold in relatively small amounts on either a continuous or an intermittent basis. MTNs are highly
flexible debt instruments that can be structured to respond to market opportunities or to investor
preferences.
MODIFIED DURATION. The percent change in price for a 100 basis point change in yields. Modified duration
is the best single measure of a portfolio's or security's exposure to market risk.
MONEY MARKET. The market in which short -term debt instruments (T- bills, discount notes, commercial
paper, and banker's acceptances) are issued and traded.
MORTGAGE Pass - THROUGH SECURITIES. A securitized participation in the interest and principal cash flows
from a specified pool of mortgages. Principal and interest payments made on the mortgages are
passed through to the holder of the security.
MUNICIPAL SECURITIES. Securities issued by state and local agencies to finance capital and operating
expenses.
MUTUAL FUND. An entity which pools the funds of investors and invests those funds in a set of securities
which is specifically defined in the fund's prospectus. Mutual funds can be invested in various types
of domestic and /or international stocks, bonds, and money market instruments, as set forth in the
individual fund's prospectus. For most large, institutional investors, the costs associated with
investing in mutual funds are higher than the investor can obtain through an individually managed
portfolio.
NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATION (NRSRO).
A credit rating agency that the Securities and Exchange Commission in the United States uses
for regulatory purposes. Credit rating agencies provide assessments of an investment's risk. The
issuers of investments, especially debt securities, pay credit rating agencies to provide them with
ratings. The three most prominent NRSROs are Fitch, S &P, and Moody's.
NEGOTIABLE CD. A short -term debt instrument that pays interest and is issued by a bank, savings or federal
association, state or federal credit union, or state - licensed branch of a foreign bank. Negotiable
CDs are traded in a secondary market and are payable upon order to the bearer or initial depositor
(investor).
PREMIUM. The difference between the par value of a bond and the cost of the bond, when the cost is above
par.
PREPAYMENT SPEED. A measure of how quickly principal is repaid to investors in mortgage securities.
PREPAYMENT WINDOW. The time period over which principal repayments will be received on mortgage
securities at a specified prepayment speed.
PRIMARY DEALER. A financial institution (1) that is a trading counterparty with the Federal Reserve in its
execution of market operations to carry out U.S. monetary policy, and (2) that participates for
statistical reporting purposes in compiling data on activity in the U. S. Government securities market.
PRUDENT PERSON PRUDENT INVESTOR RULE. A standard of responsibility which applies to fiduciaries. In
California, the rule is stated as 'Investments shall be managed with the care, skill, prudence and
diligence, under the circumstances then prevailing, that a prudent person, acting in a like capacity
and familiar with such matters, would use in the conduct of an enterprise of like character and with
like aims to accomplish similar purposes."
REALIZED YIELD. The change in value of the portfolio due to interest received and interest earned and
realized gains and losses. It does not give effect to changes in market value on securities, which
have not been sold from the portfolio.
REGIONAL DEALER. A financial intermediary that buys and sells securities for the benefit of its customers
without maintaining substantial inventories of securities and that is not a primary dealer.
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REPURCHASE AGREEMENT. Short -term purchases of securities with a simultaneous agreement to sell the
securities back at a higher price. From the seller's point of view, the same transaction is a reverse
repurchase agreement.
SAFEKEEPING. A service to bank customers whereby securities are held by the bank in the customer's name.
STRUCTURED NOTE. A complex, fixed income instrument, which pays interest, based on a formula tied to
other interest rates, commodities or indices. Examples include inverse floating rate notes which
have coupons that increase when other interest rates are falling, and which fall when other interest
rates are rising, and "dual index floaters, " which pay interest based on the relationship between
two other interest rates - for example, the yield on the ten -year Treasury note minus the Libor rate.
Issuers of such notes lock in a reduced cost of borrowing by purchasing interest rate swap
agreements.
SUPRANATIONAL. A Supranational is a multi - national organization whereby member states transcend
national boundaries or interests to share in the decision making to promote economic development
in the member countries.
TOTAL RATE OF RETURN. A measure of a portfolio's performance over time. It is the internal rate of
return, which equates the beginning value of the portfolio with the ending value; it includes interest
earnings, realized and unrealized gains, and losses in the portfolio.
U.S. TREASURY OBLIGATIONS. Securities issued by the U.S. Treasury and backed by the full faith and credit
of the United States. Treasuries are considered to have no credit risk, and are the benchmark for
interest rates on all other securities in the US and overseas. The Treasury issues both discounted
securities and fixed coupon notes and bonds.
TREASURY BILLS. All securities issued with initial maturities of one year or less are issued as discounted
instruments, and are called Treasury bills. The Treasury currently issues three- and six -month T-
bills at regular weekly auctions. It also issues "cash management" bills as needed to smooth out
cash flows.
TREASURY NOTES. All securities issued with initial maturities of two to ten years are called Treasury notes,
and pay interest semi - annually.
TREASURY BONDS. All securities issued with initial maturities greater than ten years are called Treasury
bonds. Like Treasury notes, they pay interest semi - annually.
VOLATILITY. The rate at which security prices change with changes in general economic conditions or the
general level of interest rates.
YIELD TO MATURITY. The annualized internal rate of return on an investment which equates the expected
cash flows from the investment to its cost.
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