Treasurer's Annual Investment Report for the year ended June 30, 2022MEETING DATE: October 19, 2022
PREPARED BY: Teresa S. McBroome
Director of Finance/City
Treasurer
DEPARTMENT: Finance
SUBJECT:
AGENDA REPORT
DEPT. DIRECTOR: Teresa S. McBroome
CITY MANAGER: Pamela Antil
Treasurer's Annual Report for the Fiscal Year Ended June 30, 2022 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, 2022; and
2. Adopt Resolution No. 2022-99 titled "A Resolution of the City Council of the City of
Encinitas Approving the Statement of Investment Policy for the Fiscal Year 2022-23, and
Delegating the Authority to Invest City Funds to the Treasurer" (Attachment 1).
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 report. Investment earnings in the pooled
investment fund for FY 2021-22 were $1,455,618, of which $571,009 were allocated to the
General Fund. Investment earnings exceeded the budgeted amount of $1,129,127 by $325,831
or by $171,009, 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 minor and administrative 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 2021-22 (Attachment 2)
Summary report for the investment of bond proceeds (Attachment 3)
Investment Policy Redlined (Attachment 4)
Investment Policy (Attachment 1; Exhibit A)
2022-10-19 Item #08D Page 1 of 83
ANALYSIS:
Pooled Investment Fund Report
The Annual Investment Report for the Pooled Investment Fund (Attachment 2) 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 Details Investments by Issuer Activity Report
Interest Earnings Summary Interest Earnings Purchases Report Accrued Interest
Realized Gain/Loss Unrealized Gain/Loss Cash and Investments by Fund
As of June 30, 2022, the book value (purchase price of securities as recorded on the City's books)
of the Pooled Investment Fund was $136.1 million and the average weighted yield to maturity was
1.30 percent. Fiscal year-to-date investment revenue generated by the Pooled Investment Fund
as of June 30, 2022, was $1,455,618 for an effective rate of return of 1.28 percent. The current
market value of the City's portfolio is $132,281,867 which results in an unrealized loss of
$3,791,510 or 2.79 percent, when compared to the book value or purchase value of the City's
portfolio of $136,073,377. This is due to the rising interest rate environment that the market is in.
Since the City intends to hold all investments until maturity, the unrealized loss will not become a
realized loss. The following table compares the Pooled Investment Fund statistics for the last four
quarters.
FY 2021-22
June 30, 2022
March 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Book Value
$
136,073,377
$ 121,316,026
$
113,540,519
$ 108,584,422
Market Value
$
132,281,867
$ 118,954,232
$
113,821,823
$ 109,637,863
Unrealized Gain/(Loss)
$
(3,791,510)
$ (2,361,794)
$
281,304
$ 1,053,441
Unrealized Gain/Loss as %of Book Value
-2.79%
-1.95%
0.25%
0.97%
Effective Rate of Return
1.28%
1.29%
1.33%
1.32%
Average Yield To Maturity
1.30%
1.25%
1.23%
1.31%
Average Maturity (Years)
1.37
1.76
1.71
1.90
Investment Earnings Year to Date
$
1,455,618
$ 1,056,642
$
724,153
$ 388,307
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 as of June 30, 2022
Cash
Federal A
Se
aed Pool Accounts
2%
Market Funds
3%
Deposits -
U.S. Tre
S
2022-10-19 Item #08D Page 2 of 88
Credit Quality of Portfolio as of June 30, 2022
Federal Agency Coupon
Securities. SDCO Investment
Pool. AA+. 15%
U.S Treasury Coupon
Securities, CAMP and
SDCO Investment Pool-
AAA. 43%
■ Not rated ■ AAA AA+, AA-, A+
LAIF. Money Market Funds,
Certificates of Deposit and
Cash. Not Rated, 42%
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 and Federal Farm Credit. This diversity of issuers provides additional security.
Although the Federal Agency securities are rated AA+, they continue to be regarded as among
the safest securities in the global market. The remaining funds are in the California Local Agency
Investment Fund (LAIF), California Asset Management Program (CAMP), the San Diego County
Investment Pool, and Certificates of Deposit and Money Market Funds with US Bank as Trustee
and a Union Bank 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 provide 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% 10% 20% 30% 40% 50% 60% 70%
■ Policy Maximum ■ As of June 30, 2022
The City's investment portfolio complied with the City's investment policy because it adhered to
the required allocations by investment type.
2022-10-19 Item #08113 Page 3 of 83
Portfolio Liquidity as of June 30, 2022
40%
35 %
30%
25%
20%
15%
10•/
5%
IHI
0%
Overnight 0-6 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 � day-to-day operations, large CIP program and debt service program. The portfolio
is currently very liquid with 34.0 percent available overnight and an additional 10.8 percent of
securities available within 180 days. Best management practices recommend that agencies have
six months of cash needs of their portfolio liquid. The weighted average maturity of the entire
portfolio is 1.37 years. The City utilizes a laddered maturity investment strategy in that as
securities mature, new investments are directed to the 49-60-month segment to take advantage
of higher rates further out on the yield curve. The Treasury Indexes began to slowly accelerate at
the beginning of Fiscal Year 2021-22, then began to increase more steadily towards the end of
the fiscal year. One of the primary ways for the Federal Reserve to adjust monetary policy is
through changes to the federal funds rate. With rising inflation, the Federal Reserve has been
more aggressive in policy rate increases. The City remains consistent with its use of this laddered
maturities investment strategy while also considering the City § investments objectives.
City Portfolio Yield Compared to Treasury Indexes
3.50%
3.00%
2.50%
op do
2.00%
1.50%
do
1.00%
0.50%
0.00%
f- r� n 00 00 00 00 M M M M
a -I ri rl 11� 1� 1- 1l t 1- 1- t
O O O O
N N N N
-4 -4 -4 a 1 N N
N N N N N N
c a u c Q u c a b
c a u
c a u 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 which averaged a 1.10 percent yield over the
2022-10-19 Item #08D Page 4 of 88
twelve months ended June 30, 2022, as compared to the City's average yield of 1.65 percent over
the same twelve-month period.
Investment of Bond Proceeds
The Annual Investment Report for the Investment of Bond Proceeds (Attachment 3) is subject to
minor changes in activity from year-to-year. Total bond proceeds held in trust accounts on June
30, 2022, were $655,263. Earnings on the bond trust accounts were $720 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 rate of return ranging from 0.84 percent to 1.33 percent.
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, 2022, were for the 2007 Water Revenue
Bonds reserve funds ($640,239).
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 2021.
There were no approved changes to the local agency investment related codes during the 2021
California State Legislative Session. Therefore, the Local Agency Investment Guidelines provided
by the California Debt and Advisory Commission reflect the most current investment statutes.
Staff performed a review of the City's current investment policy, which follows these investment
guidelines, and is recommending adoption of the City's investment policy for Fiscal Year 2022-23
with minor formatting and grammatical corrections.
In Fiscal Year 2020-21, the City adopted Resolution 2021-67, whereby the City Council has
directed the City Treasurer not to invest in certain companies as well as to petition the managers
of the pooled funds the City is invested in to divest from fossil fuel companies. The City Treasurer
has complied with this direction from the City Council.
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.
ATTACHMENTS:
1. Resolution No. 2022-99 titled "A Resolution of the City Council of the City of Encinitas
Approving the Statement of Investment Policy for the Fiscal Year 2022-23, and Delegating
the Authority to Invest City Funds to the Treasurer
2. Annual Investment Report for the Pooled Investment Fund, June 30, 2022
3. Annual Investment Report for the Investment of Bond Proceeds, June 30, 2022
4. City of Encinitas Investment Policy (F019), amended October 19, 2022, Redlined
2022-10-19 Item #O8D Page 5 of 88
Attachment 1
RESOLUTION 2022-99
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ENCINITAS APPROVING THE
STATEMENT OF INVESTMENT POLICY FOR THE FISCAL YEAR 2022-2023, AND
DELEGATING THE AUTHORITY TO INVEST CITY FUNDS TO THE TREASURER
WHEREAS, Section 53646 of the Government Code provides for the Treasurer of a local
agency to present to the legislative body a statement of the agency's investment policy and any
changes to the policy for consideration at a public meeting; and
WHEREAS, the City Council of the City of Encinitas ("City") last considered and approved
the City's Investment Policy ("Policy") on October 20, 2021; and
WHEREAS, there were no approved changes to the local agency investment related
government codes during the 2021 California Legislative session. Therefore, the Local Agency
Investment Guidelines, which the City follows, have the most current investment statutes.
WHEREAS it is good practice for the City Council to review the Statement of Investment
Policy to ensure its consistency with the overall objectives of preservation of principal, liquidity
and return, and its relevance to current laws and financial and economic trends; and
WHEREAS, Section 53601 of the Government Code authorizes the City Council to invest
City funds, and Section 53607 of the Government Code further authorizes the City Council to
delegate said authority to the City Treasurer, and Encinitas Municipal Code Chapter 2.28
designates that the Director of Finance shall serve as the City Treasurer; and
WHEREAS, the City Council desires to delegate its authority to invest City funds to the
City Treasurer.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Encinitas:
1. That the above recitals are true and correct.
2. That the Investment Policy for Fiscal Year 2022-2023, as contained in Exhibit A to this
resolution is hereby approved.
3. That the City Council of the City of Encinitas does hereby authorize the Treasurer to
invest City funds.
PASSED, APPROVED AND ADOPTED this 1911 day of October 2022 by the City Council
of the City of Encinitas, State of California.
Catherine S. Blakespear, Mayor
2022-10-19 Item #08D Page 6 of 83
ATTEST:
Kathy Hollywood, City Clerk
APPROVED AS TO FORM:
Tarquin Preziosi, City Attorney
CERTIFICATION: I, Kathy Hollywood, City Clerk of the City of Encinitas, California, do hereby
certify under penalty of perjury that the foregoing Resolution was duly adopted at a regular
meeting of the City Council on the 19th day of October 2022 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAI N:
Kathy Hollywood, City Clerk
2022-10-19 Item #08D Page 7 of 88
Exhibit A
CITY OF ENCINITAS
ADMINISTRATIVE MANUAL
Policy Title: Investment Policy Section: Finance
Responsible Department: Finance Number. Admin Policy F019
Approved By: City Council
1. Philosophy
Date Approved. 1994
Last Amended: October 19, 2022
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.
IL 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' Annual Comprehensive 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.
2022-10-19 Item #081) Page 8 of 88
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.
111. 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 uidi - 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.
2022-10-19 Item #081) Page 9 of 88
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 qualified 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,
(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,
2022-10-19 Item #08D Page 10 of 88
(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 per local
agency, not to the CA gov't 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
2022-10-19 Item #0813 Page 11 of 83
(3)
(4)
(5)
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM 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.
Other Gov't 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.
Mutual Funds and Money Market Mutual Funds (Total)
20% 20%
Per Issuer 10% 10%
(A) Money Market Mutual Funds N/A
Per Issuer N/A
20%
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.
(8) Mutual Funds WA 10%
Per Issuer WA 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.
Certificates of Deposit (CD's) NO LIMIT 30%
Per Issuer 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.
2022-10-19 Item #081) Page 12 of 88
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
(6) Negotiable Certificates of Deposit 30% 30%
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) Aa1 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 ofA1/P1, and are limited to 5% of the total account value
per issuer.
(6) 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 40%
Per Issuer 10%
25%
5%
Commercial Paper (CP) is a short-term I.O. 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 organized
and operating within the United States, have assets in excess of $500 million, and
debt other than commercial paper must be in a rating category of "A" or its equivalent
or higher by a nationally recognized statistical rating organization or the issuing
corporation must be organized within the U.S. as a special purpose corporation,
trust, or LLC, have program wide credit enhancements, and have commercial paper
that is rated A-1 " or higher or the equivalent, by a nationally recognized statistical
rating agency. 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.
2022-10-19 Item #08D Page 13 of 88
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
Per California Code Section 53601(h) beginning January 1, 2021, until January 1,
2026, portfolio limitation maximums are 40% and revert back to 25% after January
1, 2026. The 10% single issue limitation for commercial paper and medium -term
notes will remain in effect.
(11) Commercial Medium -Term Notes 30% 15%
Per Issuer 10% 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
2022-10-19 Item #081) Page 14 of 88
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
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.
(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 lssuer 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.
2022-10-19 Item #081) Page 15 of 88
SUMMARY TABLE of INVESTMENT ALLOCATIONS
STATE LAW
INV POLICY
(1)
REPURCHASE AGREEMENTS
NO LIMIT
20%
(2)
CALIFORNIA LAIF
NO LIMIT
30%
(3)
OTHER GOV'T 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
30%
Per Issuer
5%
(6)
NEGOTIABLE CD's
30%
30
Per Issuer
5%
(7)
BANKERS ACCEPTANCES
40%
10%
Per Issuer
30%
5%
(6)
U.S. TREASURYS
NO LIMIT
50%
(9)
U.S. FEDERAL AGENCIES
NO LIMIT
60%
Per Issuer
25%
(10)
COMMERCIAL PAPER
40%
25
Per Issuer
10%
5%
(11)
COMMERCIAL MTN NOTES
30%
15%
Per Issuer
10%
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.
(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,
2022-10-19 Item #08D Page 16 of 88
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. Furthermore, Encinitas'
City Council directs the City Treasurer to annually, if not more often, petition the managers of the
pooled funds the City is invested in to divest from 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.
California SB 998 added Government Code Section 53601.6(b)2), which allows a local agency to
invest in securities issued by, or backed by, the United States government that could result in zero -
or negative -interest accrual if held to maturity, in the event of, and for the duration of a period of
negative market interest rates. This is applicable from January 1, 2021 until January 1, 2026.
IX. Due Diligence Requirements for Investment Pools, Mutual Funds, and CD's
Investments of these types are authorized in Section V111. 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
2022-10-19 Item #0813 Page 17 of 88
(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
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
Vlll. also details specific limitations per issuer. For purposes of this Policy, those limits each apply to
the overall portfolio.
XIII. 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. Intemal 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.
2022-10-19 Item #0813 Page 18 of 88
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 over time shall be measured and reported to the City Council, at least
quarterly, via the utilization of the following benchmark to measure performance.
The one u year constant matu►ity 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.
"I. 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. The City shall
publicly report on the results of the annual petitions to the managers of the pooled funds the City is
invested in to define and divest from fossil fuel companies.
"11. 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.
2022-10-19 Item #081) Page 19 of 88
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.
"//I. 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
2022-10-19 Item #081) Page 20 of 88
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."
2022-10-19 Item #081) Page 21 of 88
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.
2022-10-19 Item #0813 Page 22 of 83
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.
2022-10-19 Item #0813 Page 23 of 83
Attachment 2
City of Encinitas - YTD Report
Portfolio Management
Portfolio Summary
June 30, 2022
CITY OF ENCINITAS
505 S. VULCAN
Encinitas, CA 92024
(760)633-2641
Investments
Par
value
Market
Value
Book
Value
% of
Portfolio
YTM
Term
Days to
Maturity
Local Agency Investment Funds
34,266,457.21
33,825,290.76
34,266,457.21
26.26
0.990
1
1
Managed Pool Accounts
2,301,189.02
2,268,998.87
2,301,189.02
1.76
1.135
1
1
Money Market Funds
4,081,904.25
4,081,904.25
4,081,904.25
3.13
1.370
1
1
Certificates of Deposit - Bank
12,644,000.00
12,178,198.10
12,644,000.00
9.69
1.762
1,761
762
Negotiable CDs
498,000.00
485,181A8
498,000.00
0.38
1.727
1,643
667
U.S. Treasury Coupon Securities
57,000,000.00
54,193,674.31
56,709,084.76
43.46
1.180
1,356
818
Federal Agency Coupon Securities
20.000.000.00
19,671,460.00
19,995,582.47
15.32
1.885
1,494
444
130,791,550.48
126,704,707.77
130,496,217.71
100.00%
1.302
995
500
Investments
Cash
Passbook/Checking
5,577,158.84
5,577,158.84
5,577,158.84
0.000
1
1
(not included in yield calculations)
Total Cash and Investments
136,368,709.32
132,281,866.61
136,073,376.55
1.302
995
500
Total Earnings June 30 Period Ending Fiscal Year Ending_
Current Year 1,455,618.16 1,455,618.16
Average Daily Balance 113,960,743.36
Effective Rate of Return 1.28%
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
enditure requireme ts. Thf ourcg f e market values of investme sown d is US Bank Custody Services,
0 / 'a
Ter Ia McBroome, Finance birecto r\Treasurer
Reporting period 07/01/2021-06130/2022
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/1512022 - 15:08
2022-10-19
No fiscal year history available
Item #08D
Portfolio ENCI
AC
PM (PRF_PM1) 7.3.0
Report Ver. 7.3.6.1
Page 24 of 88
City of Encinitas - YTD Report
Portfolio Management
Portfolio Details - Investments
June 30, 2022
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 34,266,457.21 33,825,290.76 34,266,457.21 0.990 0.990 NR
Subtotal and Average 17,465,405.28 34,266,457.21 33,825,290.76 34,266,457.21 0.990
Managed Pool Accounts
SYS1003 1003
SYS1584 1584
Money Market Funds
SYS1004 1004
Certificates
of Deposit - Bank
14042RGN5
1552
1404203Q1
1553
87270LAD5
1554
58404DBL4
1561
05580AMB7
1562
17312QH69
1563
29278TAU4
1568
45581 EASO
1564
501798LT7
1566
61747MR37
1565
33646CJPO
1569
249398BT4
1596
02589AAM4
1580
79545OS89
1570
20033AZK5
1571
D20080BUO
1619
33640VDE5
1609
59013KAR7
1597
06251AW48
1585
34969RCS5
1616
654062JRD
1625
219255AK2
1623
61760AG52
1593
CA Asset Management Program
SD County Investment Pool
Subtotal and Average 3,329,134.99
US BANK
Subtotal and Average
2,154,865.92
1,072,561.71
1,228,627.31
2,301,189.02
4,081,904.25
1,072,561.71
1,196,437.16
2,268,998.87
4,081,904.25
4,081,904.25 4,081,904.25
1,072,561.71 1.140
1,228,627.31 1.130
2,301,189.02
1.140 AAA
1.130 AAA
1.135
4,081,904.25 1.370 1.370 AAA
4,081,904.25 1.370
Capital One NA
07/19/2017
245,000.00
245,075.95
245,000.00
2.300
2.300
NR
07/19/2022
Capital One Bank USA, NA
07/19/2017
245,000.00
245,075.95
245,000.00
2.300
2.300
07/19/2022
TIAA FSB
07/19/2017
245,000.00
245,056.35
245,000.00
2.150
2.150
NR
NR 07/19/2022
Medallion Bank UT
03/28/2018
249,000.00
249,883.95
249,000.00
2.900
2.900
03/28/2023
BMW Bank North America
03/29/2018
246,000.00
246,865.92
246,000.00
2.900
2.900
03/29/2023
Citi Bank NA
03/29/2018
246,000.00
246,774.90
246,000.00
2.850
2.850
03/29/2023
Enerbank USA
03/29/2018
246,000.00
246,774.90
246,000.00
2.850
2.850
03/29/2023
Industrial & Comm Bank China
03/29/2018
249,000.00
249,878.97
249,000.00
2.900
2.900
03/29/2023
LCA Bank Corp
03/29/2018
246,000.00
246,683.88
246,000.00
2.800
2.800
03/29/2023
Morgan Stanley Bank
03/29/2018
246,000.00
246,865.92
246,000.00
2.900
2.900
03/29/2023
First Source Bank
04/11/2018
246,000.00
246,691.26
246,000.00
2.850
2.850
04/11/2023
Denver Savings Bank
06/21/2019
249,000.00
247,630.50
249,000.00
2.250
2.250
06/21/2023
American Express National Bank
06/26/2018
245,000.00
246,085.35
245,000.00
3.300
3.300
NR
NR 06/26/2023
Sallie Mae Bank/Murray
06/27/2018
245,000.00
246,078.00
245,000.00
3.300
3.300
NR
NR 06/27/2023
Comenity Capital Bank
06/29/2018
245,000.00
246,058.40
245,000.00
3.300
3.300
NR
NR 06/29/2023
ALMA BANK
03/30/2020
249,000.00
242,672.91
249,000.00
0.900
0.900
09/29/2023
FIRST SERVICE BANK
11/15/2019
249,000.00
244,547.88
249,000.00
1.700
1.700
11/15/2023
Merrick Bank
06/28/2019
249,000.00
246,527.43
249,000.00
2.400
2.400
12/28/2023
BANK HAPOALIM BM NY
03/25/2019
246,000.00
244,814.28
246,000.00
2.900
2.900
03/25/2024
FORTUNE BANK ARNOLD
03/27/2020
249,000.00
239,784.51
249,000.00
1.000
1.000
03/27/2024
NICOLET NATIONAL BANK
03/31/2020
249,000.00
240,397.05
249,000.00
1.150
1.150
03/28/2024
CORNHUSKER BANK
03/30/2020
249,000.00
240,167.97
249,000.00
1.100
1.100
03/29/2024
MORGAN STANLEY PRIVATE BANK
06/13/2019
246,000.00
242,846.28
246,000.00
2.600
2.600
06/13/2024
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date:08/15/2022 -15:08
Portfolio ENCI
AC
PM (PRF_PM2) 7.3.0
2022-10-19 Item #08D Page 25 afepli 7.3.6.1
City of Encinitas - YTD Report
Portfolio Management
Portfolio Details - Investments
June 30, 2022
Page 2
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
27002YEQ5
1594
EAGLEBANK
06/20/2019
249,000.00
244,308.84
249,000.00
2.300
2.300
06/20/2024
200056QRZ8
1595
COMMERCE BANK GENEVA MN
06/26/2019
249,000.00
244,236.63
249,000.00
2.300
2.300
06/26/2024
336460CQ1
1598
First State Bank Dequeen
06/28/2019
249,000.00
244,211.73
249,000.00
2.300
2.300
06/28/2024
761400BY1
1599
REVERE BANK
06/28/2019
247,000.00
242,262.54
247,000.00
2.300
2.300
06/28/2024
33847E4E4
1626
FLAGSTAR BANK FSB
09/30/2020
249,000.00
233,295.57
249,000.00
0.400
0.400
09/30/2024
52465JHT7
1618
LEGENDS BANK
03/30/2020
249,000.00
236,450.40
249,000.00
1.000
1.000
09/30/2024
710673AC8
1624
PEOPLES BANK/SARDIS TN
03/31/2020
249,000.00
236,450.40
249,000.00
1.000
1.000
09/30/2024
73319FAD1
1611
POPPY BANK
11/04/2019
249,000.00
239,552.94
249,000.00
1.650
1.650
11/04/2024
203522AT4
1610
COMMUNITY BANK
11/08/2019
249,000.00
239,503.14
249,000.00
1.650
1.650
11/08/2024
29367SJQ8
1607
ENTERPRISE BANK AND TRUST
11/08/2019
249,000.00
240,347.25
249,000.00
1.800
1.800
11/08/2024
695292FP2
1613
PADUCAH BANK AND TRUST
11/08/2019
249,000.00
239,503.14
249,000.00
1.650
1.650
11/08/2024
89579NCB7
1612
TRIAD BANK FRONTENAC MO
11/08/2019
249,000.00
240,347.25
249,000.00
1.800
1.800
11/08/2024
300185JF3
1615
EVERGREEN BANK GROUP
03/26/2020
249,000.00
233,557.02
249,000.00
1.000
1.000
03/26/2025
59565QCS2
1617
MIDCOUNTRY BANK
03/27/2020
249,000.00
233,542.08
249,000.00
1.000
1.000
03/27/2025
152010CJ4
1620
CENTERSTATE BANK NA
03/30/2020
248,000.00
232,621.52
248,000.00
1.000
1.000
03/31/2025
538036KU7
1622
LIVE OAK BANKING COMPANY
03/31/2020
249,000.00
234,127.23
249,000.00
1.100
1.100
03/31/2025
694231AD3
1621
PACIFIC ENTERPRISE BANK
03/30/2020
249,000.00
234,455.91
249,000.00
1.150
1.150
03/31/2025
549104SS7
1627
LUANA SAVINGS BANK
10/02/2020
249,000.00
226,223.97
249,000.00
0.400
0.400
10/02/2025
33625CDV8
1629
1ST SECURITY BK OF WASH
11/13/2020
249,000.00
225,885.33
249,000.00
0.400
0.400
10/15/2025
51507LBZ6
1628
LANDMARK COMMUNITY BANK
10/29/2020
249,000.00
225,641.31
249,000.00
0.400
0.400
10/29/2025
33744AAW9
1630
FIRST US BANK
11/18/2020
249,000.00
225,315.12
249,000.00
0.400
0.400
11/18/2025
50116CCP2
1631
KS STATEBANK
11/30/2020
249,000.00
225,526.77
249,000.00
0.450
0.450
11/28/2025
90348JN48
1632
UBS BANK USA
06/23/2021
249,000.00
224,931.66
249,000.00
0.750
0.750
06/23/2026
649447UZO
1633
NEW YORK COMMUNITY BANK
06/30/2021
249,000.00
224,458.56
249,000.00
0.700
0.700
07/01/2026
856285C41
1650
STATE BANK OF INDIA
01/13/2022
248,000.00
227,289.52
248,000.00
1.400
1.400
NR NR 01/13/2027
89235MMP3
1649
TOYOTA FINANCIAL SVGS BK
01/13/2022
248,000.00
226,773.68
248,000.00
1.350
1.350
01/13/2027
39573LCE6
1648
GREENSTATE CREDIT UNION
01/14/2022
248,000.00
226,619.92
248,000.00
1.350
1.350
01/14/2027
64034KAJO
1651
NELNET BANK INC
02/02/2022
248,000.00
227,520.16
248,000.00
1.450
1.450
02/02/2027
Subtotal and Average 13,091,128.77
12,644,000.00
12,178,198.10
12,644,000.00
1.762
Negotiable CDs
15118RSN8
1614
CELTIC BANK
10/30/2019
249,000.00
244,405.95
249,000.00
1.600
1.601
10/30/2023
33767GAMO
1608
First Bank Puerto Rico
10/28/2019
249,000.00
240,775.53
249,000.00
1.850
1.852
NR NR 10/25/2024
Subtotal and Average 498,000.00
498,000.00
485,181.48
498,000.00
1.727
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
Portfolio ENCI
AC
PM (PRF_PM2) 7.3.0
2022-10-19 Item #08D Page 26 of 88
City of Encinitas - YTD Report
Portfolio Management
Portfolio Details - Investments
June 30, 2022
Page 3
CUSIP
Investment #
Average
Issuer Balance
Purchase
Date
Par Value
Market Value
Book Value
Stated
Rate
YTM
Maturity
S&P Moody's Date
U.S. Treasury Coupon Securities
91282SX08
1578
U.S. Treasury Notes
06/26/2018
4,000,000.00
4,002,800.00
3,997,819.18
2.000
2.705
Aaa 07/31/2022
912828124
1572
U.S. Treasury Notes
06/26/2018
2,000,000.00
2,000,980.00
1,997,378.44
1.875
2.710
Aaa 08/31/2022
9128282W9
1579
U.S. Treasury Notes
06/26/2018
2,000,000.00
2,000,300.00
1,996,091.44
1.875
2.711
Aaa 09/30/2022
91282SS92
1592
U.S. Treasury Notes
03/27/2019
3,000,000.00
2,945,850.00
2,971,299.03
1.250
2.181
07/31/2023
9128282D1
1604
U.S. Treasury Notes
06/26/2019
2,000,000.00
1,963,040.00
1,992,066.55
1.375
1.729
08/31/2023
91282CAP6
1636
U.S. Treasury Notes
07/08/2021
2,000,000.00
1,928,120.00
1,996,804.13
0.125
0.249
AAA Aaa 10/15/2023
91282CBM2
1638
U.S. Treasury Notes
07/08/2021
2,000,000.00
1,910,860.00
1,994,296.71
0.125
0.301
02/15/2024
91282CBR1
1655
U.S. Treasury Notes
03/09/2022
1,000,000.00
954,810.00
977,810.38
0.250
1.578
03/15/2024
91282CCG4
1656
U.S. Treasury Notes
03/09/2022
2,000,000.00
1,896,560.00
1,947,307.56
0.250
1.627
06/15/2024
912828Y87
1634
U.S. Treasury Notes
07/08/2021
6,000,000.00
5,849,520.00
6,168,317.69
1.750
0.394
07/31/2024
912828YE4
1646
U.S. Treasury Notes
07/08/2021
2,000,000.00
1,926,800.00
2,035,726.09
1.250
0.419
08/31/2024
91282BYH7
1642
U.S. Treasury Notes
07/08/2021
2,000,000.00
1,934,680.00
2,047,674.26
1.500
0.432
09/30/2024
912828YM6
1647
U.S. Treasury Notes
07/08/2021
1,000,000.00
966,130.00
1,024,212.94
1.500
0.453
10/31/2024
91282CDH1
1653
U.S. Treasury Notes
03/09/2022
1,000,000.00
948,200.00
978,316.57
0.750
1.688
11/15/2024
912828ZC7
1641
U.S. Treasury Notes
07/08/2021
2,000,000.00
1,903,600.00
2,031,297.19
1.125
0.531
02/28/2025
912828ZFO
1652
U.S. Treasury Notes
03/09/2022
1,000,000.00
933,280.00
967,867.29
0.500
1.705
03/31/2025
912828ZW3
1645
U.S. Treasury Notes
07/08/2021
2,000,000.00
1,841,400.00
1,979,275.64
0.250
0.600
06/30/2025
91282CAB7
1640
U.S. Treasury Notes
07/08/2021
6,000,000.00
5,508,960.00
5,931,711.59
0.250
0.624
07/31/2025
91282CAJO
1643
U.S. Treasury Notes
07/08/2021
2,000,000.00
1,831,260.00
1,975,895.83
0.250
0.636
08/31/2025
91282CAM3
1644
U.S. Treasury Notes
07/08/2021
2,000,000.00
1,827,260.00
1,974,550.57
0.250
0.648
09/30/2025
91282CAT8
1657
U.S. Treasury Notes
03/09/2022
1,000,000.00
911,250.00
951,493.18
0.250
1.759
10/31/2025
91282CB03
1639
U.S. Treasury Notes
07/08/2021
2,000,000.00
1,822,900.00
1,984,160.07
0.500
0.720
02/28/2026
91282CBT7
1635
U.S. Treasury Notes
07/08/2021
2,000,000.00
1,836,960.00
2,000,990.88
0.750
0.736
AAA Aaa 03/31/2026
91282CCJS
1654
U.S. Treasury Notes
03/09/2022
1,000,000.00
918,010.00
965,940.68
0.975
1.763
06/30/2026
91282CCP4
1659
U.S. Treasury Notes
03/10/2022
4,000,000.00
3,630,144.31
3,820,780.87
0.625
1.787
07/31/2026
Subtotal and Average 50,099,361.85
57,000,000.00
54,193,674.31
56,709,084.76
1.180
Federal Agency
Coupon Securities
3135GOT78
1589
Federal Nat'l Mortgage Assoc.
03/27/2019
2,000,000.00
1,999,060.00
1,999,049.62
2.000
2.190
10/05/2022
3135GOT78
1603
Federal Nat'l Mortgage Assoc.
06/26/2019
1,000,000.00
999,530.00
1,000,656.25
2.000
1.740
10/05/2022
3133EDWW8
1600
Federal Farm Credit
06/26/2019
1,000,000.00
1,002,210.00
1,002,081.95
2.600
1.784
10/06/2022
3133EC4Q4
1558
Federal Farm Credit
02/23/2018
2,000,000.00
1,993,300.00
1,993,522.81
1.820
2.700
AA+ Aaa 11/23/2022
3133EJBP3
1590
Federal Farm Credit
03/27/2019
2,000,000.00
1,998,640.00
2,003,237.36
2.500
2.210
AAA Aaa 02/02/2023
3133EKSN7
1605
Federal Farm Credit
06/26/2019
4,000,000.00
3,953,120.00
3,998,863.01
1.770
1.800
AAA Aaa 06/26/2023
3133EHST1
1591
FEDERAL FARM CREDIT BANK
03/27/2019
1,000,000.00
990,340.00
997,725.56
2.010
2.234
07/26/2023
3135GOU43
1602
Federal Nat'l Mortgage Assoc.
06/26/2019
2,000,000.00
1,999,820.00
2,024,648.88
2.875
1.801
09/12/2023
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
Portfolio ENCI
AC
PM (PRF_PM2) 7.3.0
2022-10-19 Item #08D Page 27 of 88
City of Encinitas - YTD Report
Portfolio Management
Portfolio Details - Investments
June 30, 2022
Page 4
Average
Purchase
Stated
YTM
Maturity
CUSIP Investment #
Issuer Balance
Date
Par Value
Market Value
Book Value
Rate
S&P Moody's Date
Federal Agency Coupon Securities
3133EHN25 1606
FEDERAL FARM CREDIT BANK
06/26/2019
2,000,000.00
1,981,980.00
2,01D,072.33
2.200
1.805
11/01/2023
3135G06G3 1658
Federal Nat'l Mortgage Assoc.
03/09/2022
1,000,000.00
918,100,00
957,634,45
0.500
1.813
11/07/2025
313DAN4T4 1637
Federal Home Loan Bank
D7/08/2021
2,000,000.00
1,835,360.00
2,OD8,090.25
0.875
0.770
06/12/2026
Subtotal and Average
Total and Average
Data Updated: SET_ANNU: 08/15/2022 15:08
Ran Date, 06/15/2022 - 15.08
26,846,515.30
113,960,743.36
20,000,000.00
130, 791, 550.48
19, 671, 460.00 19, 995, 582.47 1.885
126, 704, 707.77 130, 496, 217.71 1.302
Portfolio ENCI
AC
PM (PRF_PM2) /.3.0
2022-10-19 Item #08D Page 28 of 88
City of Encinitas - YTD Report
Portfolio Management
Portfolio Details - Cash
June 30, 2022
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. 5,577,158.134 5,577,158.84 5,577,158.84 0.000
Average Balance 0.00
Total Cash and Investments
Data Updated: SET_ANNU: 08/15/2022 15:08
Ran Date, 06/15/2022 - 15.08
113,960,743.36
136,368,709.32
2022-10-19 Item #08D
132,281,866.61 136, 073,376.55 1.302
Page 5
Portfolio ENCI
AC
PM (PRF_PM2) /.3.0
Page 29 of 88
Clt Of Encinitas - YTD Re Ort CITY OF ENCINITAS
awl- _ _--_� y h 505 S. VULCAN
-� Investments by Issuer Encinitas, CA 92024
Active Investments (760)633-2641
Sorted by Issuer
June 30, 2022
Investment Current Market YTM Redemption Days To Call
CUSIP Investment # Security Type Class Remaining Cost Rate Market Value Date 365 Date Maturitv Date Collateral
ALMA BANK
020080BUO 1619 Certificates of Deposit - Bank Amort 249,000.00 0.900 242,672.91 06/30/2022 0.900 09/29/2023 455
Subtotal and Average 249,000.00 242,672.91 0.900 455
American Express National Bank
02589AAM4 1580 Certificates of Deposit - Bank Amort 245,000.00 3.300 246,085.35 06/30/2022 3.300 06/26/2023 360
Subtotal and Average 245,000.00 246,085.35 3.300 360
BANK HAPOALIM BM NY
06251AW48 1585 Certificates of Deposit - Bank Amort 246,000.00 2.900 244,814.28 06/30/2022 2.900 03/25/2024 633
Subtotal and Average 246,000.00 244,814.28 2.900 633
BMW Bank North America
05580AMB7 1562 Certificates of Deposit - Bank Amort 246,000.00 2.900 246,865.92 06/30/2022 2.900 03/29/2023 271
Subtotal and Average 246,000.00 246,865.92 2.900 271
CA Asset Management Program
SYS1003 1003 Managed Pool Accounts Amort 1,072,561.71 0.050 1,072,561.71 06/30/2022 0.050 1
Subtotal and Average 1,072,561.71 1,072,561.71 0.050 1
Capital One NA
14042RGN5 1552 Certificates of Deposit - Bank Amort 245,000.00 2.300 245,075.95 06/30/2022 2.300 07/19/2022 18
Subtotal and Average 245,000.00 245,075.95 2.300 18
Capital One Bank USA, NA
1404203Q1 1553 Certificates of Deposit - Bank Amort 245,000.00 2.300 245,075.95 06/30/2022 2.300 07/19/2022 18
Subtotal and Average 245,000.00 245,075.95 2.300 18
CELTIC BANK
15118RSN8 1614 Negotiable CDs Amort
Subtotal and Average
249,000.00 1.600
249,000.00
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08 No fiscal year history available
2022-10-19 Item #08D
244,405.95 06/30/2022 1.601 10/30/2023 486
244,405.95 1.601 486
Portfolio ENCI
AC
DI (PRF_DI) 7.1.1
Report Ver. 7.3.6.1
Page 30 of 88
City of Encinitas -YTD Report
Investments by Issuer
Page 2
Sorted by Issuer
Investment
Current
Market
YTM
Redemption Days To Call
CUSIP Investment #
Security Type Class
Remaining Cost Rate
Market Value
Date
355
Date Maturity Date Collateral
Citi Bank NA
17312QH69 1563
Certificates of Deposit - Bank Amort
246,000.00 2.850
246,774.90
06/30/2022
2.850
03/29/2023 271
Subtotal and Average
246,000.00
246,774.90
2.850
271
COMMERCE BANK GENEVA MN
200056QRZB 1595
Certificates of Deposit - Bank Amort
249,000.00 2.300
244,236.63
06/30/2022
2.300
06/26/2024 726
Subtotal and Average
249,000.00
244,236.63
2.300
726
COMMUNITY BANK
203522AT4 1610
Certificates of Deposit - Bank Amort
249,000.00 1.650
239,503.14 06/30/2022
1.650 11/08/2024
861
Subtotal and Average
249,000.00
239,503.14
1.650
861
Comenity Capital Bank
20033AZK5 1571
Certificates of Deposit - Bank Amort
245,000.00 3.300
246,058.40 06/30/2022
3.300 06/29/2023
363
Subtotal and Average
245,000.00
246,058.40
3.300
363
SD County Investment Pool
SYS1584 1584
Managed Pool Accounts Amort
1,228,627.31
0.060
1,196,437.16
06/30/2022
0.060
1
Subtotal and Average
1,228,627.31
1,196,437.16
0.060
1
CORNHUSKER BANK
219255AK2 1623
Certificates of Deposit - Bank Amort
249,000.00
1.100
240,167.97
06/30/2022
1.100
03/29/2024
637
Subtotal and Average
249,000.00
240,167.97
1.100
637
CENTERSTATE BANK NA
152010CJ4 1620
Certificates of Deposit - Bank Amort
248,000.00
1.000
232,621.52
06/30/2022
1.000
03/31/2025
1,004
Subtotal and Average
248,000.00
232,621.52
1.000
1,004
Denver Savings Bank
249398BT4 1596
Certificates of Deposit - Bank Amort
249,000.00
2.250
247,630.50
06/30/2022
2,250
06/21/2023
355
Subtotal and Average
249,000.00
247,630.50
2.250
355
EAGLEBANK
27002YEQ5 1594
Certificates of Deposit - Bank Amort
249,000.00
2.300
244,308.84
06/30/2022
2.300
06/20/2024
720
Subtotal and Average
249,000.00
244,308.84
2.300
720
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08 No fiscal year history available
2022-10-19 Item #08D
Portfolio ENCI
AC
DI (PRF_DI) 7.1.1
Report Ver. 7.3.6.1
Page 31 of 88
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 355 Date Maturity Date Collateral
Enerbank USA
29278TAU4 1568 Certificates of Deposit - Bank Amort 246,000.00 2.850 246,774.90 06/30/2022 2.850 03/29/2023 271
Subtotal and Average 246,000.00 246,774.90 2.850 271
ENTERPRISE BANK AND TRUST
29367SJQB 1607 Certificates of Deposit - Bank Amort
Subtotal and Average
EVERGREEN BANK GROUP
300185JF3 1615
First Bank Puerto Rico
33767GAMO 1608
FEDERAL FARM CREDIT BANK
3133EHST1 1591
3133EHN25 1606
Federal Farm
Credit
3133EC4Q4
1558
3133EJBP3
1590
3133EDWWS
1600
3133EKSN7
1605
Certificates of Deposit - Bank Amort
Subtotal and Average
Negotiable CDs Amort
Subtotal and Average
Federal Agency Coupon Securities
Amort
Federal Agency Coupon Securities
Amort
Subtotal and Average
Federal Agency Coupon Securities
Fair
Federal Agency Coupon Securities
Amort
Federal Agency Coupon Securities
Amort
Federal Agency Coupon Securities
Amort
Subtotal and Average
249,000.00 1.800
249,000.00
249,000.00 1.000
249,000.00
249,000.00 1.850
249,000.00
990,790.00 2.010
2,032,840.00 2.200
3,023,630.00
240,347.25 06/30/2022 1.800 11/08/2024 861
240,347.25 1.800 861
233,557.02 06/30/2022 1.000 03/26/2025 999
233,557.02 1.000 999
240,775.53 06/30/2022 1.852 10/25/2024 847
240,775.53 1.852 847
990,340.00 06/30/2022 2.234 07/26/2023 390
1,981,980.00 06/30/2022 1.805 11/01/2023 488
2,972,320.00 1.937 453
1,922,000.00
1.820
1,993,300.00
06/30/2022
2.700
11/23/2022
145
2,021,250.00
2.500
1,998,640.00
06/30/2022
2.210
02/02/2023
216
1,025,860.00
2.600
1,002,210.00
06/30/2022
1.784
10/06/2022
97
3,995,388.00
1.770
3,953,120.00
06/30/2022
1.800
06/26/2023
360
8,964,498.00
8,947,270.00
2.097
251
Federal Home Loan Bank
3130AN4T4 1637 Federal Agency Coupon Securities Amort 2,010,100.00 0.875 1,835,360.00 06/30/2022 0,770 06/12/2026 1,442
Subtotal and Average 2,010,100.00 1,835,360.00 0.770 1,440
FIRST SERVICE BANK
33640VDE5 1609 Certificates of Deposit - Bank Amort
Subtotal and Average
249,000.00 1.700
249,000.00
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08 No fiscal year history available
2022-10-19 Item #08D
244,547.88 06/30/2022 1.700 11/15/2023 502
244,547.88 1.700 502
Portfolio ENCI
AC
DI (PRF_DI) 7.1.1
Report Ver. 7.3.6.1
Page 32 of 88
City of Encinitas -YTD Report
Investments by Issuer
Page 4
Sorted by Issuer
Investment
Current
Market
YTM
Redemption Days
To Call
CUSIP
Investment #
Security Type
Class
Remaining Cost Rate
Market Value
Date
355
Date Maturity Date Collateral
FLAGSTAR BANK
FSB
33847E4E4
1626
Certificates of Deposit - Bank
Amort
249,000.00 0.400
233,295.57
06/30/2022
0,400
09/30/2024
822
Subtotal and Average
249,000.00
233,295.57
0.400
822
Federal Nat'l Mortgage Assoc.
3135GOT78
1589
Federal Agency Coupon Securities
Amort
1,987,180.00 2.000
1,999,060.00
06/30/2022
2.190
10/05/2022
96
3135GOU43
1602
Federal Agency Coupon Securities
Amort
2,086,700.00 2.875
1,999,820.00
06/30/2022
1.801
09/12/2023
438
3135GOT78
1603
Federal Agency Coupon Securities
Amort
1,008,231.00 2.000
999,530.00
06/30/2022
1.740
10/05/2022
96
3135GO6G3
1658
Federal Agency Coupon Securities
Amort
953,700.00 0.500
918,100.00
06/30/2022
1.813
11/07/2025
1,225
Subtotal and Average
6,035,811.00
5,916,510.00
1.906
388
FORTUNE BANK ARNOLD
34969RC55 1616 Certificates of Deposit - Bank Amort
Subtotal and Average
First State Bank Dequeen
336460CC21 1598 Certificates of Deposit - Bank Amort
Subtotal and Average
1ST SECURITY BK OF WASH
33625CDVB 1629
First Source Bank
33646CJP0 1569
Industrial & Comm Bank China
45581EAS0 1564
KS STATEBANK
50116CCP2 1631
CA LAIF
Certificates of Deposit - Bank Amort
Subtotal and Average
Certificates of Deposit - Bank Amort
Subtotal and Average
Certificates of Deposit - Bank Amort
Subtotal and Average
Certificates of Deposit - Bank Amort
Subtotal and Average
249,000.00 1.000
249,000.00
249,000.00 2.300
249,000.00
239,784.51 06/30/2022 1.000 03/27/2024 635
239,784.51 1.000 635
244,211.73 06/30/2022 2.300 06/28/2024 728
244,211.73 2.300 728
249,000.00 0.400 225,885.33 06/30/2022 0.400 10/15/2025 1,202
249,000.00 225,885.33 0.400 1,202
246,000.00 2.850
246,000.00
249,000.00 2.900
249,000.00
249,000.00 0.450
249,000.00
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08 No fiscal year history available
2022-10-19 Item #08D
246,691.26 06/30/2022 2.850 04/11/2023 284
246,691.26 2.850 284
249,878.97 06/30/2022 2.900 03/29/2023 271
249,878.97 2.900 271
225,526.77 06/30/2022 0.450 11/28/2025 1,246
225,526.77 0.450 1,246
Portfolio ENCI
AC
DI (PRF_DI) 7.1.1
Report Ver. 7.3.6.1
Page 33 of 88
City of Encinitas -YTD Report
Investments by Issuer
Page 5
Sorted by Issuer
Investment
Current
Market
YTM
Redemption Days
To Call
CUSIP
Investment #
Security Type Class
Remaining Cost Rate
Market Value
Date
365
Date Maturity
Date Collateral
SYS1012
1012
Local Agency Investment Funds Amort
34,266,457.21 0.262
33,825,290.76
06/30/2022
0.262
1
Subtotal and Average
34,266,457.21
33,825,290.76
0.262
1
LCA Bank Corp
501798LT7
1566
Certificates of Deposit - Bank Amort
246,000.00 2.800
246,683.88
06/30/2022
2.800
03/29/2023
271
Subtotal and Average
246,000.00
246,683.88
2.800
271
LANDMARK COMMUNITY BANK
51507LBZ6
1628
Certificates of Deposit - Bank Amort
249,000.00 0.400
225,641.31
06/30/2022
0.400
10/29/2025
1,216
Subtotal and Average
249,000.00
225,641.31
0.400
1,216
LEGENDS BANK
52465JHT7
1618
Certificates of Deposit - Bank Amort
249,000.00 1.000
236,450.40
06/30/2022
1.000
09/30/2024
822
Subtotal and Average
249,000.00
236,450.40
1.000
822
LIVE OAK BANKING
COMPANY
538036KU7
1622
Certificates of Deposit - Bank Amort
249,000.00 1.100
234,127.23
06/30/2022
1.100
03/31/2025
1,004
Subtotal and Average
249,000.00
234,127.23
1.100
1,004
LUANA SAVINGS BANK
549104SS7 1627 Certificates of Deposit - Bank Amort 249,000.00 0.400 226,223.97 06/30/2022 0.400 10/02/2025 1,189
Subtotal and Average 249,000.00 226,223.97 0.400 1,189
Medallion Bank UT
58404DBL4 1561 Certificates of Deposit - Bank Amort 249,000.00 2.900 249,883.95 06/30/2022 2.900 03/28/2023 270
Subtotal and Average 249,000.00 249,883.95 2.900 270
Merrick Bank
59013KAR7 1597 Certificates of Deposit - Bank Amort 249,000.00 2.400 246,527.43 06/30/2022 2.400 12/28/2023 545
Subtotal and Average 249,000.00 246,527.43 2.400 545
MORGAN STANLEY PRIVATE BANK
61760AG52 1593 Certificates of Deposit - Bank Amort
Subtotal and Average
MIDCOUNTRY BANK
246,000.00 2.600
246,000.00
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08 No fiscal year history available
2022-10-19 Item #08D
242,846.28 06/30/2022 2.600 06/13/2024 713
242,846.28 2.600 713
Portfolio ENCI
AC
DI (PRF_DI) 7.1.1
Report Ver. 7.3.6.1
Page 34 of 88
City of Encinitas -YTD Report
Investments by Issuer
Page 6
Sorted by Issuer
Investment
Current
Market
YTM
Redemption Days
To Call
CUSIP Investment #
Security Type Class
Remaining Cost Rate
Market Value
Date
365
Date Maturity
Date Collateral
59565QCS2 1617
Certificates of Deposit - Bank Amort
249,000.00 1.000
233,542.08
06/30/2022
1.000
D312712025
1,000
Subtotal and Average
249,000.00
233,542.08
1.000
1,000
Morgan Stanley Bank
61747MR37 1565
Certificates of Deposit - Bank Amort
246,000.00 2.900
246,865.92
06/30/2022
2.900
03/29/2023
271
Subtotal and Average
246,000.00
246,865.92
2.900
271
NICOLET NATIONAL BANK
654062JRO 1625
Certificates of Deposit - Bank Amort
249,000.00 1.150
240,397.05
06/30/2022
1.150
03/28/2024
636
Subtotal and Average
249,000.00
240,397.05
1.150
636
NELNET BANK INC
64034KAJO 1651
Certificates of Deposit - Bank Amort
248,000.00 1.450
227,520.16
06/30/2022
1.450
02/02/2027
1,677
Subtotal and Average
248,000.00
227,520.16
1.450
1,677
NEW YORK COMMUNITY BANK
649447UZO 1633
Certificates of Deposit - Bank Amort
249,000.00 0.700
224,458.56
06/30/2022
0.700
07/01/2026
1,461
Subtotal and Average
249,000.00
224,458.56
0.700
1,461
PACIFIC ENTERPRISE BANK
694231AD3 1621 Certificates of Deposit - Bank Amort 249,000.00 1.150 234,455.91 06/30/2022 1.150 03/31/2025 1,004
Subtotal and Average 249,000.00 234,455.91 1.150 1,004
PADUCAH BANK AND TRUST
695292FP2 1613 Certificates of Deposit - Bank Amort 249,000.00 1.650 239,503.14 06/30/2022 1.650 11/08/2024 861
Subtotal and Average 249,000.00 239,503.14 1.650 861
PEOPLES BANK/SARDIS TN
710673ACR 1624 Certificates of Deposit - Bank Amort
Subtotal and Average
POPPY BANK
73319FAD1 1611 Certificates of Deposit - Bank Amort
Subtotal and Average
REVERE BANK
249,000.00 1.000 236,450.40 06/30/2022 1.000 09/30/2024 822
249,000.00 236,450.40 1.000 822
249,000.00 1.650
249,000.00
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08 No fiscal year history available
2022-10-19 Item #08D
239,552.94 06/30/2022 1.650 11/04/2024 857
239,552.94 1.650 857
Portfolio ENCI
AC
DI (PRF_DI) 7.1.1
Report Ver. 7.3.6.1
Page 35 of 88
City of Encinitas -YTD Report
Investments by Issuer
Page 7
Sorted by Issuer
Investment
Current
Market
YTM
Redemption Days
To Call
CUSIP Investment #
Security Type Class
Remaining Cost Rate
Market Value
Date
365
Date Maturity
Date Collateral
761400BY1 1599
Certificates of Deposit - Bank Amort
247,000.00 2.300
242,262.54
06/30/2022
2.300
06/28/2024
728
Subtotal and Average
247,000.00
242,262.54
2.300
728
STATE BANK OF INDIA
856285C41 1650
Certificates of Deposit - Bank Amort
248,000.00 1.400
227,289.52
06/30/2022
1.400
01/13/2027
1,657
Subtotal and Average
248,000.00
227,289.52
1.400
1,657
Sallie Mae Bank/Murray
795450589 1570
Certificates of Deposit - Bank Amort
245,000.00 3.300
246,078.00
06/30/2022
3.300
06/27/2023
361
Subtotal and Average
245,000.00
246,078.00
3.300
361
TIAA FSB
87270LAD5 1554
Certificates of Deposit - Bank Amort
245,000.00 2.150
245,056.35
06/30/2022
2.150
07/19/2022
18
Subtotal and Average
245,000.00
245,056.35
2.150
18
TOYOTA FINANCIAL SVGS BK
89235MMP3 1649
Certificates of Deposit - Bank Amort
248,000.00 1.350
226,773.68
06/30/2022
1.350
01/13/2027
1,657
Subtotal and Average
248,000.00
226,773.68
1.350
1,657
TRIAD BANK FRONTENAC MO
89579NCB7 1612 Certificates of Deposit - Bank Amort
Subtotal and Average
249,000.00 1.800
249,000.00
240,347.25 06/30/2022 1.800 11/08/2024 861
240,347.25 1.800 861
Union Bank Checking Acct.
SYS1010 1010
Passbook/Checking Accounts Amort
5,577,158.84
5,577,158.84 06/30/2018 1
Subtotal and Average
5,577,158.84
5,577,158.84 1
US BANK
SYS1004 1004
Money Market Funds Amort
4,081,904.25 0.030
4,081,904.25 04/30/2019 0.030 1
Subtotal and Average
4,081,904.25
4,081,904.25 0.030 1
UBS BANK USA
90348JN48 1632
GREENSTATE CREDIT UNION
Certificates of Deposit - Bank Amort
Subtotal and Average
249,000.00 0.750
249,000.00
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08 No fiscal year history available
2022-10-19 Item #08D
224,931.66 06/30/2022 0.750 06/23/2026 1,453
224,931.66 0.750 1,453
Portfolio ENCI
AC
DI (PRF_DI) 7.1.1
Report Ver. 7.3.6.1
Page 36 of 88
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 355
Date Maturitv Date Collateral
39573LCE6 1648 Certificates of Deposit - Bank Amort
248,000.00 1.350
226,619.92 06/30/2022 1.350
D111412027 1,658
Subtotal and Average
248,000.00
226,619.92 1.350
1,658
FIRST US BANK
33744AAW9 1630 Certificates of Deposit - Bank Amort
Subtotal and Average
U.S. Treasury Notes
249,000.00 0.400
249,000.00
225,315.12 06/30/2022 0.400 11/18/2025 1,236
225,315.12 0.400 1,236
91282BL24
1572
U.S.
Treasury
Coupon
Securities
Fair
1,934,375.00
1.875
2,000,980.00
06/30/2022
2.710
08/31/2022
61
912828X08
1578
U.S.
Treasury
Coupon
Securities
Fair
3,891,250.00
2.000
4,002.800.00
06/30/2022
2.705
07/31/2022
30
9128282W9
1579
U.S.
Treasury
Coupon
Securities
Fair
1,933,125.00
1.875
2,000,300.00
06/30/2022
2.711
09/30/2022
91
91282BS92
1592
U.S.
Treasury
Coupon
Securities
Fair
2,884,687.50
1.250
2,945,850.00
06/30/2022
2.181
07/31/2023
395
9128282D1
1604
U.S.
Treasury
Coupon
Securities
Amort
1,971,562.50
1.375
1,963,040.00
06/30/2022
1.729
08/31/2023
426
91282BY87
1634
U.S.
Treasury
Coupon
Securities
Amort
6,247,500.00
1.750
5,849,520.00
06/30/2022
0.394
07/31/2024
761
91282CBT7
1635
U.S.
Treasury
Coupon
Securities
Amort
2,001,250.00
0.750
1,836,960.00
06/30/2022
0,736
03/31/2026
1,369
91282CAP6
1636
U.S.
Treasury
Coupon
Securities
Amort
1,994,375.00
0.125
1,928,120.00
06/30/2022
0.249
10/15/2023
471
91282CBM2
1638
U.S.
Treasury
Coupon
Securities
Amort
1,990,859.38
0.125
1,910,860.00
06/30/2022
0.301
02/15/2024
594
91282CB03
1639
U.S.
Treasury
Coupon
Securities
Amort
1,979,921.88
0.500
1,822,900.00
06/30/2022
0.720
02/28/2026
1,338
91282CAB7
1640
U.S.
Treasury
Coupon
Securities
Amort
5,910,000.00
0.250
5,508,960.00
06/30/2022
0.624
07/31/2025
1,126
912828ZC7
1641
U.S.
Treasury
Coupon
Securities
Amort
2,042,812.50
1.125
1,903,600.00
06/30/2022
0.531
02/28/2025
973
912828YH7
1642
U.S.
Treasury
Coupon
Securities
Amort
2,068,437.50
1.500
1,934,680.00
06/30/2022
0.432
09/30/2024
822
91282CAJO
1643
U.S.
Treasury
Coupon
Securities
Amort
1,968,437.50
0.250
1,831,260.00
06/30/2022
0.636
08/31/2025
1,157
91282CAM3
1644
U.S.
Treasury
Coupon
Securities
Amort
1,966,875.00
0.250
1,827,260.00
06/30/2022
0.648
09/30/2025
1,187
912828ZW3
1645
U.S.
Treasury
Coupon
Securities
Amort
1,972,500.00
0.250
1,841,400.00
06/30/2022
0.600
06/30/2025
1,095
912828YE4
1646
U.S.
Treasury
Coupon
Securities
Amort
2,051,875.00
1.250
1,926,800.00
06/30/2022
0.419
08/31/2024
792
912828YM6
1647
U.S.
Treasury
Coupon
Securities
Amort
1,034,375.00
1.500
966,130.00
06/30/2022
0.453
10/31/2024
853
912828ZFO
1652
U.S.
Treasury
Coupon
Securities
Amort
964,218.75
0.500
933,280.00
06/30/2022
1.705
03/31/2025
1,004
91282CDH1
1653
U.S.
Treasury
Coupon
Securities
Amort
975,468.75
0.750
948,200.00
06/30/2022
1.688
11/15/2024
868
91282CCJ8
1654
U.S.
Treasury
Coupon
Securities
Amort
963,281.25
0.875
918,010.00
06/30/2022
1.763
06/30/2026
1,460
91282CBR1
1655
U.S.
Treasury
Coupon
Securities
Amort
973,750.00
0.250
954,810.00
06/30/2022
1.578
03/15/2024
623
91282CCG4
1656
U.S.
Treasury
Coupon
Securities
Amort
1,938,906.25
0.250
1,896,560.00
06/30/2022
1,627
06/15/2024
715
91282CAT8
1657
U.S.
Treasury
Coupon
Securities
Amort
946,953.13
0.250
911,250.00
06/30/2022
1.759
10/31/2025
1,218
91282CCP4
1659
U.S.
Treasury
Coupon
Securities
Amort
3,804,375.00
0.625
3,630,144.31
06/30/2022
1.787
07/31/2026
1,491
Subtotal and
Average
56,411,171.89
54,193,674.31
1.186
821
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
Total and Average 135,813,920.21 132,281,866.61 1.009 480
No fiscal year history available
Portfolio ENCI
AC
DI (PRF_DI) 7.1.1
Report Ver. 7.3.6.1
2022-10-19 Item #081311 Page 37 of 88
City of Encinitas FY 22
Activity Report
Sorted By Issuer
July 1, 2021 -June 30, 2022
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment # Issuer of Portfolio Balance Rate Date Deposits Withdrawals
CITY OF ENCINITAS
505 S. VULCAN
Encinitas, CA 92024
(760)633-2641
Ending
Balance
Issuer: ALMA BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 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
06653ABM5 1533 BankVista
2.000 06/30/2022
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: 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
Portfolio FY22
AC
Run Date: 08/31/2022 - 14:01
DA (PRF_DA) 7.2.0
Report Ver. 7.3.6.1
2022-10-19
Item #08D
Page 38 of 88
City of Encinitas FY 22
Activity Report
July 1, 2021 - June 30, 2022
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Issuer: CA Asset Management Program
Page 2
Ending
Balance
Managed Pool Accounts
SYS1003 1003 CA Asset Management Program 1.140 1,831,81 0.00
Subtotal and Balance 1,070,729.90 1,831.61 0.00 1,072,561.71
Issuer Subtotal 0.787% 1,070,729.90 1,831.B1 0.00 1,072,561.71
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% 245,01 0.00 0.00 245,000.00
Issuer: CELTIC BANK
Negotiable CDs
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
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 1 246,000.00
Issuer: Citizens State Bankl
Certificates of Deposit - Bank
17670DAC8 1530 Citizens State Sankl 1.900 12/30/2021 0,00 245,000,00
Run Date, 06/31/2022-14.01
2022-10-19 Item #08D
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. /-3.6.1
Page 39 of 88
City of Encinitas FY 22
Activity Report
Page 3
July 1, 2021 - June 30, 2022
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 245,DOO.DD
0.00
245,000.00
0.00
Issuer Subtotal 0.000% 245,000.00
0.00
245,000.00
0.00
Issuer: COMMERCE BANK GENEVA MN
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: City National Bank Metropolis
Certificates of Deposit - Bank
17801G537 1551 City National Bank Metropolis 2.D00 D2/03/2022 0 DD 245,D00 DD
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: COMMUNITY BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,DOO.DO 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: Comenity Capital 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: SD County Investment Pool
Managed Pool Accounts
SYS1584 1584 SD County Investment Pool 1.130
Subtotal and Balance 4,2DB,416.00
Issuer Subtotal 0.901% 4,211
Run Date, D6/31/2D22-14.D1
2022-10-19 Item #08D
20, 211.31 3, 000, 000.00
20,211.31 3,000, 000.00 1,228,627.31
20,211.31 3,000, 0D0.00 1,228,627.31
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. /-3.6.1
Page 40 of 88
City of Encinitas FY 22
Activity Report
July 1, 2021 - June 30, 2022
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Issuer: CORNHUSKER BANK
Page 4
Ending
Balance
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,001 0.00 0.00 249,000.00
Issuer: CENTERSTATE BANK NA
Certificates of Deposit - Bank
Subtotal and Balance 248,000.00 248,000.00
Issuer Subtotal 0.182% 248,000.00 0.00 0.00 248,000.00
Issuer: Denver Savings Bank
Certificates of Deposit - Bank
Subtotal and Balance 249,001 249,000.00
Issuer Subtotal 0.183% 249,1)1 0.00 0.00 249,000.00
Issuer: EAGLEBANK
Certificates of Deposit - Bank
Subtotal and Balance 249,001 249,000.00
Issuer Subtotal 0.183% 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
Subtotal and Balance
Run Date, D6/31/2D22-14.D1
2022-10-19
249, 01[li 249, 000.00
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. /-3.6.1
Item #08D Page 41 of 88
City of Encinitas FY 22
Activity Report
July 1, 2021 - June 30, 2022
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Page 5
Ending
Balance
Issuer Subtotal 0.183% 249,DDD.DD 0.00 0.00 249,000.00
Issuer: EVERGREEN BANK GROUP
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: First Bank Puerto Rico
Negotiable CDs
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: FEDERAL FARM CREDIT BANK
Federal Agency Coupon Securities
3133EKNM4 1601 FEDERAL FARM CREDIT BANK 2.200 02/28/2022 0.00 2,000,000.00
Subtotal and Balance 5,000,000.00 0.00 2,000,000.00 3,000,000.00
Issuer Subtotal 2.200% 5,000,000.00 0.00 2,000,000.00 3,000,000.00
Issuer: Federal Farm Credit
Federal Agency Coupon Securities
3133EHCTB 1536 Federal Farm Credit 2.150 03/15/2022 0.00 2,000,000.00
Subtotal and Balance 11,000,000.00 0.00 2,000,000.00 9,000,000.00
Issuer Subtotal 6.600% 11,000,000.00 0.00 2,000,000.00 9,000,000.00
Issuer: Federal Home Loan Bank
Federal Agency Coupon Securities
3130A8QS5 1524
Federal Home Loan Bank
1.125
07/14/2021
3130AABG2 1555
Federal Home Loan Bank
1.875
11/29/2021
3130AEBM1 1573
Federal Home Loan Bank
2.750
06/10/2022
313378JP7 1575
Federal Home Loan Bank
2.375
09/10/2021
3130AG3Y9 1588
Federal Home Loan Bank
2.420
02/15/2022
Run Date:08/31/2022 -14:01
2022-10-19
Item
#08D
0.00
2,000,000.00
0.00
2,000,000.00
0.00
2,000,000.00
0.00
2,000,000.00
0.00
2,000,000.00
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. 7.3.6.1
Page 42 of 88
City of Encinitas FY 22
Activity Report
July 1, 2021 - June 30, 2022
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment # Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Issuer: Federal Home Loan Bank
Page 6
Ending
Balance
Federal Agency Coupon Securities
3130AN4T4 1637 Federal Home Loan Bank 0.875 07/08/2021 2,000,000.00 0.00
Subtotal and Balance 10,000,000.00 2,000,000.00 10,000,000.00 2,000,000.00
Issuer Subtotal 1.467% 10,000,000.00 2,000,000.00 10,000,000.00 2,000,000.00
Issuer: Federal Home Loan Mortgage
Federal Agency Coupon Securities
3134G9N94 1537 Federal Home Loan Mortgage 1.875 07/27/2021 0.00 2,000,000.00
3137EAEC9 1557 Federal Home Loan Mortgage 1.125 08/12/2021 0.00 2,000,000.00
Subtotal and Balance 4,000,000.00 0.00 4,000,000.00 0.00
Issuer Subtotal 0.000% 4,000,000.00 0.00 4,000,000.00 0.00
Issuer: FIRST SERVICE BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: FLAGSTAR BANK FSB
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: Federal Nat'l Mortgage Assoc.
Federal Agency Coupon Securities
3135G06G3 1658 Federal Nat'l Mortgage Assoc. 0.500 03/09/2022
Subtotal and Balance 5,000,000.00
Issuer Subtotal 4.400% 5,000,000.00
Run Date:08/31/2022 -14:01
2022-10-19 Item #08D
1,000,000.00 0.00
1,000,000.00 0.00 6,000,000.00
1,000,000.00 0.00 6,000,000.00
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. 7.3.6.1
Page 43 of 88
City of Encinitas FY 22
Activity Report
July 1, 2021 - June 30, 2022
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Issuer: FORTUNE BANK ARNOLD
Page 7
Ending
Balance
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 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 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: 1ST SECURITY BK OF WASH
Certificates of Deposit - Bank
Subtotal and Balance 249,001 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: First Source Bank
Certificates of Deposit - Bank
Subtotal and Balance 246,001 246,000.00
Issuer Subtotal 0.180% 246,000.00 0.00 0.00 246,000.00
Issuer: Goldman Sachs Bank USA
Certificates of Deposit - Bank
38148PKX4 1528 Goldman Sachs Bank USA 2.350 06/21/2022 0.00 245,000.00
Subtotal and Balance 245,000.00 0.00 245,000.00 0.00
Issuer Subtotal 0.000% 245,001 0.00 245,000.00 0.00
Issuer: Industrial & Comm Bank China
Certificates of Deposit - Bank
Run Date, D6/31/2D22-14.D1
2022-10-19 Item #08D
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. /-3.6.1
Page 44 of 88
City of Encinitas FY 22
Activity Report Page 8
July 1, 2021 - June 30, 2022
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 249,01(li 249,000.00
Issuer Subtotal 0.183% 249,01(li 0.00 0.00 249,000.00
Issuer: KS STATEBANK
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: CA LAIF
Local Agency Investment Funds
SYS1012 1012 CA LAIF 0.990 41,056,866 00 44,725,000,00
Subtotal and Balance 37,934,591.21 41,056,866.00 44,725,000.00 34,266,457.21
Issuer Subtotal 25.128% 37,934,591.21 41,056,865.00 44,725,000.00 34,266,457.21
Issuer: LCA Bank Corp
Certificates of Deposit - Bank
Subtotal and Balance 246,DOO.DO 246,000.00
Issuer Subtotal 0.180% 246,000.00 0.00 0.00 246,000.00
Issuer: LANDMARK COMMUNITY BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: LEGENDS BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,001
Issuer Subtotal 0.183% 249.000.00
Run Date, D6/31/2D22-14.D1
2022-10-19
249,000.00
0.00 0.00 249,000.00
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. /-3.6.1
Item #08D Page 45 of 88
City of Encinitas FY 22
Activity Report
July 1, 2021 - June 30, 2022
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Issuer: LIVE OAK BANKING COMPANY
Page 9
Ending
Balance
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,001 0.00 0.00 249,000.00
Issuer: LUANA SAVINGS BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,01)1 0.00 0.00 249,000.00
Issuer: Medallion Bank UT
Certificates of Deposit - Bank
Subtotal and Balance 249,001 249,000.00
Issuer Subtotal 0.183% 249,01 0.00 0.00 249,000.00
Issuer: Merrick Bank
Certificates of Deposit - Bank
Subtotal and Balance 249,001 249,000.00
Issuer Subtotal 0.183% 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
Subtotal and Balance
Run Date, D6/31/2D22-14.D1
2022-10-19
249, 01[li 249, 000.00
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. /-3.6.1
Item #08D Page 46 of 88
City of Encinitas FY 22
Activity Report Page 10
July 1, 2021 - June 30, 2022
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 0.183% 249,DDG.DD 0.00 0.00 249,000.00
Issuer: Morgan Stanley Bank
Certificates of Deposit - Bank
Subtotal and Balance 246,000.00 246,000.00
Issuer Subtotal 0.180% 246,00.00 0.00 0.00 246,000.00
Issuer: NICOLET NATIONAL BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: NELNET BANK INC
Certificates of Deposit - Bank
64034KAJO 1651 NELNET BANK INC 1.450 02/02/2022 248.000 00 000
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: NEW YORK COMMUNITY BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: PACIFIC ENTERPRISE BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.D0 0.00 0.00 249,000.00
Issuer: PADUCAH BANK AND TRUST
Run Date, D6/31/2D22-14.D1
2022-10-19 Item #08D
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. /-3.6.1
Page 47 of 88
City of Encinitas FY 22
Activity Report
July 1, 2021 - June 30, 2022
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment# Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Issuer: PADUCAH BANK AND TRUST
Page 11
Ending
Balance
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: PEOPLES BANKISARDIS TN
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: POPPY BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,001 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: REVERE BANK
Certificates of Deposit - Bank
Subtotal and Balance 247,001 247,000.00
Issuer Subtotal 0.181% 247,000.00 0.00 0.00 247,000.00
Issuer: STATE BANK OF INDIA
Certificates of Deposit - Bank
855285C41 1650 STATE BANK OF INDIA 1.400 01/13/2022 248,000 00 0.00
Subtotal and Balance 0.00 248,000.00 0.00 248,000.00
Issuer Subtotal 0.182% 1 248,000.00 1 248,000.00
Issuer: Sallie Mae Bank/Murray
Certificates of Deposit - Bank
Run Date, D6/31/2D22-14.D1
2022-10-19 Item #08D
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. /-3.6.1
Page 48 of 88
City of Encinitas FY 22
Activity Report Page 12
July 1, 2021 - June 30, 2022
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 245,0OO.D0 245,000.00
Issuer Subtotal 0.180% 245,DOO.DD 0.00 0.00 245,000.00
Issuer: TIAA 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
Issuer: TOYOTA FINANCIAL SVGS BK
Certificates of Deposit - Bank
B9235MMP3 1649 TOYOTA FINANCIAL SVGS BK 1.350 01/13/2022 248,000 00 000
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: TRIAD BANK FRONTENAC MO
Certificates of Deposit - Bank
Subtotal and Balance 249,DOO.DO 249,000.00
Issuer Subtotal 0.183% 249,ODD.DO 0.00 0.00 249,000.00
Issuer: Union Bank Checking Acct.
Passbook/Checking Accounts
SYSID1D 101D Union Bank Checking Acct 87,297,965 42 86,758,95520
Subtotal and Balance 5,038,148.62 87,297,965.42 86,758,955.20 5,577,158.84
Issuer Subtotal 4.090% 5,038,148.62 87,297,965.42 85,758,955.20 5,577,158.84
Issuer: US BANK
Money Market Funds
SYS1004 1004 US BANK 1.370
Subtotal and Balance 19,360,1B9.54
Issuer Subtotal 2.993% 19,380,1B9.54
Run Date, D6/31/2D22 - 14.D1
2022-10-19 Item #08D
49,664,218 55 64,962,503,84
49,664,21B.55 64,962,503.B4 4,OB1,904.25
49,664,213.55 64,962,503.B4 4,081,904.25
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. /-3.6.1
Page 49 of 88
City of Encinitas FY 22
Activity Report
July 1, 2021 - June 30, 2022
Par Value Par Value
Percent Beginning Current Transaction Purchases or Redemptions or
CUSIP Investment # Issuer of Portfolio Balance Rate Date Deposits Withdrawals
Issuer: UBS BANK USA
Page 13
Ending
Balance
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: GREENSTATE CREDIT UNION
Certificates of Deposit - Bank
39573LUE6 1648 GREENSTATE CREDIT UNION 1.350 01/14/2022 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: FIRST US BANK
Certificates of Deposit - Bank
Subtotal and Balance 249,000.00 249,000.00
Issuer Subtotal 0.183% 249,000.00 0.00 0.00 249,000.00
Issuer: U.S. Treasury Notes
U.S. Treasury Coupon Securities
912828S76 1523
U.S. Treasury Notes
1.125
08/02/2021
0.00
2,000,000.00
912828T34 1556
U.S. Treasury Notes
1.125
09/30/2021
0.00
2,000,000.00
91282SF96 1574
U.S. Treasury Notes
2.000
11/01/2021
0.00
2,000,000.00
912828Y87 1634
U.S. Treasury Notes
1.750
07/08/2021
6,000,000.00
0.00
91282CBT7 1635
U.S. Treasury Notes
0.750
07/08/2021
2,000,000.00
0.00
91282CAP6 1636
U.S. Treasury Notes
0.125
07/08/2021
2,000,000.00
0.00
91282CBM2 1638
U.S. Treasury Notes
0.125
07/08/2021
2,000,000.00
0.00
91282CBQ3 1639
U.S. Treasury Notes
0.500
07/08/2021
2,000,000.00
0.00
91282CAB7 1640
U.S. Treasury Notes
0.250
07/08/2021
6,000,000.00
0.00
912828ZC7 1641
U.S. Treasury Notes
1.125
07/08/2021
2,000,000.00
0.00
912828YH7 1642
U.S. Treasury Notes
1.500
07/08/2021
2,000,000.00
0.00
91282CAJO 1643
U.S. Treasury Notes
0.250
07/08/2021
2,000,000.00
0.00
91282CAM3 1644
U.S. Treasury Notes
0.250
07/08/2021
2,000,000.00
0.00
912828ZW3 1645
U.S. Treasury Notes
0.250
07/08/2021
2,000,000.00
0.00
Run Date:08/31/2022 -14:01
2022-10-19 Item #08D
Portfolio FY22
AC
DA (PRF_DA) 7.2.0
Report Ver. 7.3.6.1
Page 50 of 88
City of Encinitas FY 22
Activity Report
July 1, 2021 - June 30, 2022
Par Value
Percent Beginning Current Transaction
CUSIP Investment # Issuer of Portfolio Balance Rate Date
Issuer: U.S. Treasury Notes
Par Value
Purchases or Redemptions or
Deposits Withdrawals
Page 14
Ending
Balance
U.S. Treasury Coupon Securities
912828YE4 1646
U.S. Treasury Notes
1.250
07/08/2021
2,000,000.00
0.00
912828YM6 1647
U.S. Treasury Notes
1.500
07/08/2021
1,000,000.00
0.00
912828ZFO 1652
U.S. Treasury Notes
0.500
03/09/2022
1,000,000.00
0.00
91282CDH1 1653
U.S. Treasury Notes
0.750
03/09/2022
1,000,000.00
0.00
91282CCJ8 1654
U.S. Treasury Notes
0.875
03/09/2022
1,000,000.00
0.00
91282CBR1 1655
U.S. Treasury Notes
0.250
03/09/2022
1,000,000.00
0.00
91282CCG4 1656
U.S. Treasury Notes
0.250
03/09/2022
2,000,000.00
0.00
91282CAT8 1657
U.S. Treasury Notes
0.250
03/09/2022
1,000,000.00
0.00
91282CCP4 1659
U.S. Treasury Notes
0.625
03/10/2022
4,000,000.00
0.00
Subtotal and Balance
19,000,000.00
44,000,000.00
6,000,000.00 57,000,000.00
Issuer Subtotal 41.798%
19,000,000.00
44,000,000.00
6,000,000.00 57,000,000.00
Issuer: Wells Fargo Bank
Certificates of Deposit - Bank
949763JG2 1535 Wells Fargo Bank 2.250 06/30/2022 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
Total 100.000% 135,007,075.27 226,033,093.09 224,671,459.04 136,368,709.32
Portfolio FY22
AC
Run Date: 08/31/2022 - 14:01 DA (PRF_DA) 7.2.0
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 51 of 88
City of Encinitas-MTH Report
Portfolio Management
Interest Earnings Summary
June 30, 2022
June 301VIonth Ending
Fiscal Year To Date
Page 1
CD/Coupon/Discount Investments:
Interest Collected
109,959.08
1,434,289.34
Plus Accrued Interest at End of Period
291,834.68
291,834.70
Less Accrued Interest at Beginning of Period
( 304,051.37)
( 308,383.33)
Less Accrued Interest at Purchase During Period
( 0.00)
( 106,577.27)
Interest Earned during Period
97,742.39
1,311,163.44
Adjusted by Premiums and Discounts
10,145.13
37,480.94
Adjusted by Capital Gains or Losses
0.00
0.00
Earnings during Periods
107,887.52
1,348,644.38
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 1,349.70 80,483.99
Plus Accrued Interest at End of Period 63,941.98 63,941.98
Less Accrued Interest at Beginning of Period ( 40,595.84) ( 37,452.19)
Interest Earned during Period 24,695.84 106,973.78
Total Interest Earned during Period 122,438.23 1,418,137.22
Total Adjustments from Premiums and Discounts 10,145.13 37,480.94
Total Capital Gains or Losses 0.00 0.00
Data Updated: SET_MTH: 08/03/2022 14:47
Run Date: 08/03/2022 - 14:47
2022-10-19
Total Earnings during Period 132,583.36 1,455,618.16
Item #08D
Portfolio ENCI
AC
PM (PRF_PM6) 7.3.0
Report Ver. 7.3.6.1
Page 52 of 88
CITY OF ENCINITAS
City of Encinitas - YTD Report 505 S. VULCAN
Interest Earnings Encinitas, CA 92024
(760)633-2641
Sorted by Security Type - Maturity Date
July 1, 2021 - June 30, 2022
Yield on Beginning Book Value
Adjusted Interest Earnings
Ending
Beginning
Ending
Maturity
Current
Annualized
Interest
Amortization/
Adjusted Interest
CUSIP Investment # Fund
Issuer
Par Value
Book Value
Book Value
Date
Rate
Yield
Earned
Accretion
Earnings
Security Type: Passbook/Checking Accounts
SYS1010 1010 001
UBCKG
5,577,158.84
5,038,148.62
5,577,158.84
0.00
0.00
0.00
Subtotal
5,577,158.84
5,038,148.62
5,577,158.84
0.00
0.00
0.00
Security Type: Local Agency Investment Funds
SYS1012 1012 001
LAIF
34,266,457.21
37,934,591.21
34,266,457.21
0.990
0.223
84,706.12
0.00
84,706.12
Subtotal
34,266,457.21
37,934,591.21
34,266,457.21
0.223
84,706.12
0.00
84,706.12
Security Type: Managed Pool Accounts
SYS1584 1584 001
COUNTY
1,228,627.31
4,208,416.00
1,228,627.31
1.130
0.373
15,702.98
0.00
15,702.98
SYS1003 1003 001
CAMP
1,072,561.71
1,070,729.90
1,072,561.71
1.140
0.261
2,791.91
0.00
2,791.91
Subtotal
2,301,189.02
5,279,145.90
2,301,189.02
0.350
18,494.89
0.00
18,494.89
Security Type: Money Market Funds
SYS1004 1004 001
UBCUST
4,081,904.25
19,380,189.54
4,081,904.25
1.370
0.019
3,772.77
0.00
3,772.77
Subtotal
4,081,904.25
19,380,189.54
4,081,904.25
0.019
3,772.77
0.00
3,772.77
Security Type: Certificates of Deposit - Bank
17670DAC8 1530 001
CITIZN
0.00
245,000.00
0.00
12/30/2021
1.900
1.900
2,321.13
0.00
2,321.13
17801GS67 1551 001
CNBMET
0.00
245,000.00
0.00
02/03/2022
2.000
2.000
2,913.13
0.00
2,913.13
38148PKX4 1528 001
GSBNK
0.00
245,000.00
0.00
06/21/2022
2,350
2.350
5,599.76
0.00
5,599.76
06653ABM5 1533 001
BKVIST
0.00
245,000.00
0.00
06/30/2022
2.000
2.000
4,886.56
0.00
4,886.56
949763JG2 1535 001
WFBANK
0.00
245,000.00
0.00
06/30/2022
2.250
2.250
5,497.36
0.00
5,497.36
140420301 1553 001
CAPONE
245,000.00
245,000.00
245,000.00
07/19/2022
2.300
2.300
5,635.00
0.00
5,635.00
14042RGN5 1552 001
CAPINA
245,000.00
245,000.00
245,000.00
07/19/2022
2.300
2.300
5,635.00
0.00
5,635.00
87270LAD5 1554 001
TIAAFS
245,000.00
245,000.00
245,000.00
07/19/2022
2.150
2.150
5,267.50
0.00
5,267.50
5840413131-4 1561 001
MEDALL
249,000.00
249,000.00
249,000.00
03/28/2023
2.900
2.900
7,221.01
0.00
7,221.01
05580AMB7 1562 001
BMWBNK
246,000.00
246,000.00
246,000.00
03/29/2023
2.900
2.900
7,134.00
0.00
7,134.00
17312QH69 1563 001
CITIBK
246,000.00
246,000.00
246,000.00
03/29/2023
2.850
2.850
7,011.00
0.00
7,011.00
45581 EASO 1564 001
INDUST
249,000.00
249,000.00
249,000.00
03/29/2023
2.900
2.900
7,221.01
0.00
7,221.01
Portfolio ENCI
Data Updated: SET_ANNU: 08/15/2022 15:08
AC
Run Date: 08115/2022 - 15:08
No fiscal year history available
IE (PRF_IE) 7.2.0
Report Ver. 7.3.6.1
2022-10-19
Item #08D
Page 53 of 88
City of Encinitas -YTD Report
Interest Earnings Page 2
July 1, 2021 - June 30, 2022
Adjusted Interest Earnings
Ending
Beginning
Ending
Maturity
Current
Annualized
Interest
Amortization/ Adjusted Interest
CUSIP
Investment # Fund
Issuer
Par Value
Book Value
Book Value
Date
Rate
Yield
Earned
Accretion
Earnings
Security Type:
Certificates of
Deposit -
Bank
61747MR37
1565
001
MORSTN
246,000.00
246,000.00
246,000.00
03/29/2023
2.900
2.900
7,134.00
0.00
7,134.00
501798LT7
1566
001
LCABNK
246,000.00
246,000.00
246,000.00
03/29/2023
2.800
2.800
6,888.00
0.00
6,888.00
29278TAU4
1568
001
ENERBK
246,000.00
246,000.00
246,000.00
03/29/2023
2.850
2.850
7,011.00
0.00
7,011.00
33646CJPO
1569
001
FSRCBK
246,000.00
246,000.00
246,000.00
04/11/2023
2.850
2.850
7,011.00
0.00
7,011.00
249398BT4
1596
001
DENSVB
249,000.00
249,000.00
249,000.00
06/21/2023
2.250
2.250
5,602.51
0.00
5,602.51
02589AAM4
1580
001
AMEXNL
245,000.00
245,000.00
245,000.00
06/26/2023
3.300
3.300
8,085.00
0.00
8,085.00
795450589
1570
001
SMAEBN
245,000.00
245,000.00
245,000.00
06/27/2023
3.300
3.300
8,085.00
0.00
8,085.00
20033AZK5
1571
001
COMNTY
245,000.00
245,000.00
245,000.00
06/29/2023
3.300
3.300
8,084.99
0.00
8,084.99
020080BUD
1619
001
ALMABK
249,000.00
249,000.00
249,000.00
09/29/2023
0.900
0.900
2,240.98
0.00
2,240.98
33640VDE5
1609
001
FIRSTS
249,000.00
249,000.00
249,000.00
11/15/2023
1.700
1300
4,233.04
0.00
4,233.04
59013KAR7
1597
001
MERRBK
249,000.00
249,000.00
249,000.00
12/28/2023
2.400
2A00
5,976.00
0.00
5,976.00
06251AW48
1585
001
BKHAPO
246,000.00
246,000.00
246,000.00
03/25/2024
2.900
2,900
7,134.00
0.00
7,134.00
34969RCS5
1616
001
FORTUB
249,000.00
249,000.00
249,000.00
03/27/2024
1.000
1.000
2,490.01
0.00
2,490.01
654062JRD
1625
001
NOBS
249,000.00
249,000.00
249,000.00
03/28/2024
1.150
1.150
2,863.51
0.00
2,863.51
219255AK2
1623
001
CRNHSK
249,000.00
249,000.00
249,000.00
03/29/2024
1.100
1.100
2,739.00
0.00
2,739.00
61760AG52
1593
001
MGSTPB
246,000.00
246,000.00
246,000.00
06/13/2024
2.600
2.600
6,396.00
0.00
6,396.00
27002YEQ5
1594
001
EGLEBK
249,000.00
249,000.00
249,000.00
06/20/2024
2.300
2.300
5,726.97
0.00
5,726.97
200056QRZ8
1595
001
CMBKGN
249,000.00
249,000.00
249,000.00
06/26/2024
2.300
2.300
5,726.97
0.00
5,726.97
336460CQ1
1598
001
FSBDQ
249,000.00
249,000.00
249,000.00
06/28/2024
2.300
2.300
5,726.97
0.00
5,726.97
761400BY1
1599
001
RVBANK
247,000.00
247,000.00
247,000.00
06/28/2024
2.300
2.300
5,681.00
0.00
5,681.00
52465JHT7
1618
001
LEGEND
249,000.00
249,000.00
249,000.00
09/30/2024
1.000
1.000
2,490.02
0.00
2,490.02
710673ACS
1624
001
PEBATN
249,000.00
249,000.00
249,000.00
09/30/2024
1.000
1.000
2,490.02
0.00
2,490.02
33847E4E4
1626
001
FLGSB
249,000.00
249,000.00
249,000.00
09/30/2024
0.400
0.400
996.00
0.00
996.00
73319FAD1
1611
001
POPBK
249,000.00
249,000.00
249,000.00
11/04/2024
1.650
1.650
4,108.47
0.00
4,108.47
29367SJQB
1607
001
ENTERB
249,000.00
249,000.00
249,000.00
11/08/2024
1.800
1.800
4,481.96
0.00
4,481.96
203522AT4
1610
001
COMMBK
249,000.00
249,000.00
249,000.00
11/08/2024
1.650
1.650
4,108.47
0.00
4,108.47
89579NCB7
1612
001
TRIADB
249,000.00
249,000.00
249,000.00
11/08/2024
1.800
1.800
4,481.96
0.00
4,481.96
695292FP2
1613
001
PADUCA
249,000.00
249,000.00
249,000.00
11/08/2024
1.650
1.650
4,108.47
0.00
4,108.47
300185JF3
1615
001
EVRGRN
249,000.00
249,000.00
249,000.00
03/26/2025
1.000
1.000
2,490.01
0.00
2,490.01
595650CS2
1617
001
MIDCBK
249,000.00
249,000.00
249,000.00
03/27/2025
1.000
1.000
2,490.01
0.00
2,490.01
15201QCJ4
1620
001
CTRSTE
248,000.00
248,000.00
248,000.00
03/31/2025
1.000
1.000
2,480.00
0.00
2,480.00
694231AD3
1621
001
PACENT
249,000.00
249,000.00
249,000.00
03/31/2025
1.150
1.150
2,863.51
0.00
2,863.51
538036KU7
1622
001
LIVOAK
249,000.00
249,000.00
249,000.00
03/31/2025
1.100
1.100
2,739.01
0.00
2,739.01
549104SS7
1627
001
LUANSB
249,000.00
249,000.00
249,000.00
10/02/2025
0.400
0.400
996.00
0.00
996.00
33625CDV8
1629
001
FSECWA
249,000.00
249,000.00
249,000.00
10/15/2025
0.400
0.400
995.98
0.00
995.98
51507LBZ6
1628
001
LDMCB
249,000.00
249,000.00
249,000.00
10/29/2025
0.400
0.400
995.97
0.00
995.97
33744AAW9
1630
001
USBI
249,000.00
249,000.00
249,000.00
11/18/2025
0.400
0.400
995.98
0.00
995.98
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
No fiscal year history available
Portfolio ENCI
AC
IE (PRF_IE) 7.2.0
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 54 of 88
City of Encinitas -YTD Report
Interest Earnings Page 3
July 1, 2021 - June 30, 2022
Adjusted Interest Earnings
Ending
Beginning
Ending
Maturity
Current
Annualized
Interest
Amortization/
Adjusted Interest
CUSIP
Investment #
Fund
Issuer
Par Value
Book Value
Book Value
Date
Rate
Yield
Earned
Accretion
Earnings
Security Type:
Certificates of Deposit
- Bank
50116CCP2
1631
001
KANBNK
249,000.00
249,000.00
249,000.00
11/28/2025
0.450
0.450
1,120.55
0.00
1,120.55
90348JN48
1632
001
UBS
249,000.00
249,000.00
249,000.00
06/23/2026
0.750
0.750
1,867.49
0.00
1,867.49
649447UZO
1633
001
NYCB
249,000.00
249,000.00
249,000.00
07/01/2026
0.700
0.700
1,743.00
0.00
1,743.00
89235MMP3
1649
001
TOYFBN
248,000.00
0.00
248,000.00
01/13/2027
1.350
1.350
1,550.17
0.00
1,550.17
856285C41
1650
001
SBIIN
248,000.00
0.00
248,000.00
01/13/2027
1.400
1.400
1,607.58
0.00
1,607.58
39573LCE6
1648
001
UNIICC
248,000.00
0.00
248,000.00
01/14/2027
1.350
1.350
1,531.83
0.00
1,531.83
64034KAJO
1651
001
NELNTB
248,000.00
0.00
248,000.00
02/02/2027
1.450
1.450
1,467.95
0.00
1,467.95
Subtotal
12,644,000.00
12,877,000.00
12,644,000.00
1.806
236,378.82
0.00
236,378.82
Security Type:
Negotiable CDs
15118RSN8
1614
D01
CELTIC
249,000.00
249,000.00
249,000.00
10/30/2023
1.600
1.600
3,984.02
0.00
3,984.02
33767GAMO
1608
991
FBPR
249,000.00
249,000.00
249,000.00
10/25/2024
1.850
1.850
4,606.54
0.00
4,606.54
Subtotal
498,000.00
498,000.00
498,000.00
1.725
8,590.56
0.00
8,590.56
Security Type:
U.S. Treasury Coupon Securities
912828576
1523
001
UST
0.00
1,998,962.43
0.00
07/31/2021
1.125
1.766
1,864.64
1,037.57
2,902.21
912828T34
1556
001
UST
0.00
1,993,350.17
0.00
09/30/2021
1.125
2.464
5,594.26
6,649.83
12,244.09
912828F96
1574
001
UST
0.00
1,995,869.53
0.00
10/31/2021
2.000
2.607
13,260.87
4,130.47
17,391.34
912828XQ8
1578
001
UST
4,000,000.00
3,971,285.93
3,997,819.18
07/31/2022
2.000
2.683
80,000.00
26,533.25
106,533.25
9128281-24
1572
001
UST
2,000,000.00
1,981,692.04
1,997,378.44
08/31/2022
1.875
2.684
37,500.00
15,686.40
53,186.40
9128282W9
1579
001
UST
2,000,000.00
1,980,414.26
1,996,091.44
09/30/2022
1.875
2.685
37,500.00
15,677.18
53,177.18
912828592
1592
001
UST
3,000,000.00
2,944,777.88
2,971,299.03
07/31/2023
1.250
2.174
37,500.00
26,521.15
64,021.15
9128282D1
1604
001
UST
2,000,000.00
1,985,269.11
1,992,066.55
08/31/2023
1.375
1.728
27,500.00
6,797.44
34,297.44
91282CAP6
1636
001
UST
2,000,000.00
0.00
1,996,804.13
10/15/2023
0.125
0.250
2,452.19
2,429.13
4,881.32
91282CBM2
1638
001
UST
2,000,000.00
0.00
1,994,296.71
02/15/2024
0.125
0.302
2,451.66
3,437.33
5,888.99
91282CBR1
1655
001
UST
1,000,000.00
0.00
977,810.38
03/15/2024
0.250
1.590
775.14
4,060.38
4,835.52
91282CCG4
1656
001
UST
2,000.000.00
0.00
1,947,307.56
06/15/2024
0.250
1.646
1,564.73
8,401.31
9,966.04
912828Y87
1634
001
UST
6,000.000.00
0.00
6,168,317.69
07/31/2024
1.750
0.388
102,969.61
-79,182.31
23,787.30
912828YE4
1646
001
UST
2,000,000.00
0.00
2,035,726.09
08/31/2024
1.250
0.416
24,524.46
-16,148.91
8,375.55
912828YH7
1642
001
UST
2,000,000.00
0.00
2,047,674.26
09/30/2024
1.500
0.427
29,426.23
-20,763.24
8,662.99
912828YM6
1647
001
UST
1,000.000.00
0.00
1,024,212.94
10/31/2024
1.500
0,449
14,714.67
-10,162.06
4,552.61
91282CDH1
1653
001
UST
1,000.000.00
0.00
978,316.57
11/15/2024
0.750
1.705
2,346.00
2,847.82
5,193.82
912828ZC7
1641
001
UST
2,000.000.00
0.00
2,031,297.19
02/28/2025
1.125
0.527
22,072.01
-11,515.31
10,556.70
912828ZFO
1652
001
UST
1,000,000.00
0.00
967,867.29
03/31/2025
0.500
1.729
1,559.03
3,648.54
5,207.57
912828ZW3
1645
001
UST
2,000.000.00
0.00
1,979,275.64
06/30/2025
0.250
0.604
4,904.89
6,775.64
11,680.53
91282CAB7
1640
001
UST
6,000,000.00
0.00
5,931,711.59
07/31/2025
0.250
0.628
14,709.95
21,711.59
36,421.54
91282CAJO
1643
001
UST
2,000,000.00
0.00
1,975,895.83
08/31/2025
0.250
0.640
4,904.90
7,458.33
12,363.23
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
No fiscal year history available
Portfolio ENCI
AC
IE (PRF_IE) 7.2.0
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 55 of 88
City of Encinitas -YTD Report
Interest Earnings
July 1, 2021 - June 30, 2022
Ending Beginning Ending Maturity Current Annualized
CUSIP Investment # Fund Issuer Par Value Book Value Book Value Date Rate Yield
Security Type:
U.S. Treasury Coupon
Securities
91282CAM3
1644 001
UST
2,000.000.00
0.00
1,974,550.57
09/30/2025
91282CATB
1657 001
UST
1,000,000.00
0.00
951,493.18
10/31/2025
91282CBQ3
1639 001
UST
2,000,000.00
0.00
1,984,160.07
02/28/2026
91282CBT7
1635 001
UST
2,000,000.00
0.00
2,000,990.88
03/31/2026
91282CCJS
1654 001
UST
1,000,000.00
0.00
965,940.68
06/30/2026
91282CCP4
1659 001
UST
4,000,000.00
0.00
3,820,780.87
07/31/2026
Subtotal 57,000,000.00 18,851,621.35 56,709,084.76
Security Type: Federal Agency Coupon Securities
3130A8QS5
1524
001
FHLB
0.00
1,999,540.14
0.00
07/14/2021
3134G9N94
1537
001
FHLMC
0.00
2,000,228.99
0.00
07/27/2021
3137EAEC9
1557
991
FHLMC
0.00
1,997,032.37
0.00
08/12/2021
313378JP7
1575
001
FHLB
0.00
1,998,811.81
0.00
09/10/2021
3130AABG2
1555
001
FHLB
0.00
1,994,967.35
0.00
11/29/2021
3130AG3Y9
1588
001
FHLB
0.00
2,002,343.58
0.00
02/15/2022
3133EKNM4
1601
001
FFCB
0.00
2,005,637.74
0.00
02/28/2022
3133EHCTB
1536
001
FFCRED
0.00
2,004,369.64
0.00
03/15/2022
3130AEBM1
1573
001
FHLB
0.00
1,999,451.03
0.00
06/10/2022
3135GOT78
1603
001
FNMA
1,000,000.00
1,003,169.53
1,000,656.25
10/05/2022
3135GOT78
1589
001
FNMA
2,000,000.00
1,995,409.87
1,999,049.62
10/05/2022
3133EDWWB
1600
001
FFCRED
1,000,000.00
1,009,971.44
1,002,081.95
10/06/2022
3133EC404
1558
001
FFCRED
2,000,000.00
1,977,101.75
1,993,522.81
11/23/2022
3133EJBP3
1590
001
FFCRED
2,000,000.00
2,008,760.83
2,003,237.36
02/02/2023
3133EKSN7
1605
001
FFCRED
4,000,000.00
3,997,710.01
3,998,863.01
06/26/2023
3133EHST1
1591
001
FFCB
1,000,000.00
995,598.81
997,725.56
07/26/2023
3135GOU43
1602
001
FNMA
2,000,000.00
2,045,237.27
2,024,648.88
09/12/2023
3133EHN25
1606
001
FFCB
2,000,000.00
2,017,626.58
2,010,072.33
11/01/2023
3135GO6G3
1658
001
FNMA
1,000,000.00
0.00
957,634.45
11/07/2025
3130AN4T4
1637
001
FHLB
2,000.000.00
0.00
2,008,090.25
06/12/2026
Subtotal
20,000,000.00
35,052,968.74
19,995,582.47
Total 136,368,709.32 134,911,665.36 136,073,376.55
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08 No fiscal year history available
2022-10-19 Item #08D
Page 4
Adjusted Interest Earnings
Interest Amortization/ Adjusted Interest
Earned Accretion Earnings
0.250
0.652
4,904.37
7,675.57
12,579.94
0.250
1.799
780.32
4,540.05
5,320.37
0.500
0.723
9,809.78
4,238.19
14,047.97
0.750
0.736
14,713.11
-259.12
14,453.99
0.875
1.800
2,755.13
2,659.43
5,414.56
0.625
1.833
7,803.87
13,781.56
21,585.43
1.137
510,861.82
58,667.21
569,529.03
1.125
1.787
812.50
459.86
1,272.36
1.875
1.740
2,708.33
-228.99
2,479.34
1.125
2.407
2,562.50
2,967.63
5,530.13
2.375
2.647
9,104.17
1,188.19
10,292.36
1.875
2,478
15,416.67
5,032.65
20,449.32
2.420
2.211
30,115.56
-2,343.58
27,771.98
2.200
1.754
28,966.67
-5,637.74
23,328.93
2.150
1.840
30,338.89
-4,369.64
25,969.25
2.750
2.778
51,791.67
548.97
52,340.64
2.000
1.743
20,000.00
-2,513.28
17,486.72
2.000
2.187
40,000.00
3,639.75
43,639.75
2.600
1.793
26,000.00
-7,889.49
18,110.51
1.820
2.672
36,400.00
16,421.06
52,821.06
2.500
2.214
50,000.00
-5,523.47
44,476.53
1.770
1.800
70,800.00
1,153.00
71,953.00
2.010
2.233
20,100.00
2,126.75
22,226.75
2.875
1.805
57,500.00
-20,588.39
36,911.61
2.200
1306
44,000.00
-7,554.25
36,445.75
0.500
1.843
1,555.56
3,934.45
5,490.01
0.875
0.768
17,159.72
-2,009.75
15,149.97
1.989
555,332.24
-21,186.27
534,145.97
0.920 1,418,137.22 37,480.94 1,455,618.16
Portfolio ENCI
AC
IE (PRF_IE) 7.2.0
Report Ver. 7.3.6.1
Page 56 of 88
CITY OF ENCINITAS
City of Encinitas
505 S. VULCAN
•—
Purchases Report
Encinitas, CA 92024
(760)633-2641
Sorted by Issuer - Purchase Date
July 1, 2021 - June 30, 2022
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
Federal Home Loan Bank
3130AN4T4 1637
001
FAC FHLB
2,000,000.00 07/08/2021 12/12 - 06/12
2.010.100.00
Received
0.875
06/12/2026
0.770
2,008,090.25
Subtotal
2,000,000.00
2,010,100.00
0.00
2,008,090.25
Federal Nat'l Mortgage Assoc.
3135G06G3 1658
001
FAC FNMA
1,000,000.00 03/09/2022 05/07 - 11/07
953,700.00
Received
0.500
11/07/2025
1.813
957,634.45
Subtotal
1,000,000.00
953,700.00
0.00
957,634.45
NELNET BANK INC
64034KAJO 1651
001
BCD NELNTB
248,000.00 02/02/2022 08/02 - 02/02
248,000.00
1.450
02/02/2027
1.450
248,000.00
Subtotal
248,000.00
248,000.00
0.00
248,000.00
STATE BANK OF INDIA
856285C41 1650
001
BCD SBIIN
248,000.00 01/13/2022 07/13 - 01/13
248,000.00
1.400
01/13/2027
1.400
248,000.00
Subtotal
248,000.00
248,000.00
0.00
248,000.00
TOYOTA FINANCIAL SVGS BK
89235MMP3 1649
001
BCD TOYFBN
248,000.00 01/13/2022 07/13 - 01/13
248,000.00
1.350
01/13/2027
1.350
248,000.00
Subtotal
248,000.00
248,000.00
0.00
248,000.00
GREENSTATE CREDIT UNION
39573LCE6 1648
001
BCD UNIICC
248,000.00 01/14/2022 02/01 - Monthly
248,000.00
1.350
01/14/2027
1.350
248,000.00
Subtotal
248,000.00
248,000.00
0.00
248,000.00
U.S. Treasury Notes
912828Y87
1634
001
TRC UST
91282CBT7
1635
001
TRC UST
91282CAP6
1636
001
TRC UST
91282CBM2
1638
001
TRC UST
91282CBQ3
1639
001
TRC UST
91282CAB7
1640
001
TRC UST
912828ZC7
1641
001
TRC UST
912828YH7
1642
001
TRC UST
91282CAJO
1643
001
TRC UST
Received = Accrued Interest at Purchase was received by report ending date
Run Date: 08/08/2022 - 14:01
2022-10-19
6,000,000.00
07/08/2021
07/31 - 01/31
6,247,500.00
2,000,000.00
07/08/2021
09/30 - 03/31
2,001,250.00
2,000,000.00
07/08/2021
10/15 - 04/15
1,994,375.00
2,000,000.00
07/08/2021
08/15 - 02/15
1,990,859.38
2,000,000.00
07/08/2021
08/31 - 02/28
1,979,921.88
6,000,000.00
07/08/2021
07/31 - 01/31
5,910,000.00
2,000,000.00
07/08/2021
08/31 - 02/28
2,042,812.50
2,000,000.00
07/08/2021
09/30 - 03/31
2,068,437.50
2,000,000.00
07/08/2021
08/31 - 02/28
1,968,437.50
Item #08D
Received
1.750
07/31/2024
0.394
6,168,317.69
Received
0.750
03/31/2026
0.736
2,000,990.88
Received
0.125
10/15/2023
0.249
1,996,804.13
Received
0.125
02/15/2024
0.301
1,994,296.71
Received
0.500
02/28/2026
0.720
1,984,160.07
Received
0.250
07/31/2025
0.624
5,931,711.59
Received
1.125
02/28/2025
0.531
2,031,297.19
Received
1.500
09/30/2024
0.432
2,047,674.26
Received
0.250
08/31/2025
0.636
1,975,895.83
Portfolio ENCI
AC
PU (PRF_PU) 7.1.1
Report Ver. 7.3.6.1
Page 57 of 88
City of Encinitas
Purchases Report Page 2
July 1, 2021 - June 30, 2022
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
U.S. Treasury Notes
91282CAM3
1644
001
TRC
UST
2,000,000.00 07/08/2021 09/30-03/31
1,966,875.00
Received
0.250
09/30/2025
0.648
1,974,550.57
912828ZW3
1645
001
TRC
UST
2,000,000.00 07/08/2021 12/31 -06/30
1,972,500.00
Received
0.250
06/30/2025
0.600
1,979,275.64
912828YE4
1646
001
TRC
UST
2,000,000.00 07/08/2021 08/31 -02/28
2,051,875.00
Received
1.250
08/31/2024
0.419
2,035,726.09
912828YM6
1647
001
TRC
UST
1,000,000.00 07/08/2021 10/31 -04/30
1,034,375.00
Received
1.500
10/31/2024
0.453
1,024,212.94
912828ZFG
1652
001
TRC
UST
1,000,000.00 03/09/2022 03/31 -09/30
964,218.75
Received
0.500
03/31/2025
1.705
967,867.29
91282CDH1
1653
001
TRC
UST
1,000,000.00 03/09/2022 05/15 - 11/15
975,468.75
Received
0.750
11/15/2024
1.688
978,316.57
91282CCJS
1654
001
TRC
UST
1,000,000.00 03/09/2022 06/30 - 12/31
963,281.25
Received
0.875
06/30/2026
1.763
965,940.68
91282CBR1
1655
001
TRC
UST
1,000,000.00 03/09/2022 03/15 - 09/15
973,750.00
Received
0.250
03/15/2024
1.578
977,810.38
91282CCG4
1656
001
TRC
UST
2,000,000.00 03/09/2022 06/15 - 12/15
1,938,906.25
Received
0.250
06/15/2024
1.627
1,947,307.56
91282CAT8
1657
001
TRC
UST
1,000,000.00 03/09/2022 04/30 - 10/31
946,953.13
Received
0.250
10/31/2025
1.759
951.493.18
91282CCP4
1659
001
TRC
UST
4,000,000.00 03/10/2022 07/31 -01/31
3,804,375.00
2,624.31
0.625
07/31/2026
1,787
3,820,780.87
Subtotal
44,000,000.00
43,796,171.89
2,624.31
43,754,430.12
Total Purchases
47,992,000.00
47,751,971.89
2,624.31
47,712,154.82
Received = Accrued Interest at Purchase was received by report ending date.
Run Dale: DB/DB12322 - 14, 01
Portfolio ENCI
AC
PU (PRF_PU) 7.1.1
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 58 of 88
CITY OF ENCINITAS
_
City of Encinitas
505 S. VULCAN
�---�
Accrued Interest
Encinitas, CA 92024
(760)633-2641
Sorted by Security Type - Maturity Date
July 1, 2021 - June 30, 2022
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
Local Agency Investment Funds
SYS1012 1012 LA5
34,266,457.21
0.990 29,804.98 0.00
84,706.12
56,866.00
57,645.10
Subtotal
34,266,457.21
29,804.98 0.00
84,706.12
56,866.00
57,645.10
Managed Pool Accounts
SYS1003 1003 LA1 1,072,561.71 1.140 44.21 0.00 2,791.91 1,831.81 1,004.31
SYS1584 1584 LA1 1,228,627.31 1.130 7,280.85 0.00 15,702.98 20,211.31 2,772.52
Subtotal 2,301,189.02 7,325.06 0.00 18,494.89 22,043.12 3,776.83
Money Market Funds
SYS1004 1004 LA3 4,081,904.25 1.370 322.13 0.00 3,772.77 1,574.87 2,520.03
Subtotal 4,081,904.25 322.13 0.00 3,772.77 1,574.87 2,520.03
Certificates
of Deposit - Bank
17670DAC8
1530
BCD
0.00
12/30/2021
1.900
12.76
0.00
2,321.13
2,333.88
0.01
17801GSB7
1551
BCD
0.00
02/03/2022
2.000
375.90
0.00
2,913.13
3,289.02
0.01
38148PKX4
1528
BCD
0.00
06/21/2022
2.350
157.74
0.00
5,599.76
5,757.50
0.00
06653ABM5
1533
BCD
0.00
06/30/2022
2.000
13.42
0.00
4,886.56
4,899.98
0.00
949763JG2
1535
BCD
0.00
06/30/2022
2.250
14.87
0.00
5,497.36
5,512.52
-0.29
14042RGN5
1552
BCD
245,000.00
07/19/2022
2.300
2,516.45
0.00
5,635.00
5,635.00
2,516.45
1404203Q1
1553
BCD
245,000.00
07/19/2022
2.300
2,516.45
0.00
5,635.00
5,635.00
2,516.45
872701LAD5
1554
BCD
245,000.00
07/19/2022
2.150
2,352.33
0.00
5,267.50
5,267.50
2,352.33
58404DBL4
1561
BCD
249,000.00
03/28/2023
2.900
59.35
0.00
7,221.01
7,221.01
59.35
05580AMB7
1562
BCD
246,000.00
03/29/2023
2.900
1,837.25
0.00
7,134.00
7,134.00
1,837.25
17312OH69
1563
BCD
246,000.00
03/29/2023
2.850
1,805.57
0.00
7,011.00
7,011.00
1,805.57
29278TAU4
1568
BCD
246,000.00
03/29/2023
2.850
1,805.57
0.00
7,011.00
7,011.00
1,805.57
45581 EASO
1564
BCD
249,000.00
03/29/2023
2.900
39.56
0.00
7,221.01
7,221.01
39.56
501798LT7
1566
BCD
246,000.00
03/29/2023
2.800
1,773.90
0.00
6,888.00
6,888.00
1,773.90
61747MR37
1565
BCD
246,000.00
03/29/2023
2.900
1,837.25
0.00
7,134.00
7,134.00
1,837.25
33646CJPO
1569
BCD
246,000.00
04/11/2023
2.850
1,555.86
0.00
7,011.00
7,011.00
1,555.86
249398BT4
1596
BCD
249,000.00
06/21/2023
2.250
138.14
0.00
5,602.51
5,602.51
138.14
02589AAM4
1580
BCD
245,000.00
06/26/2023
3.300
110.75
0.00
8,085.00
8,085.00
110.75
795450S89
1570
BCD
245,000.00
06/27/2023
3.300
88.60
0.00
8,085.00
8,085.00
88.60
20033AZK5
1571
BCD
245,000.00
06/29/2023
3.300
44.30
0.00
8,084.99
8,084.99
44.30
020080BUO
1619
BCD
249,000.00
09/29/2023
0.900
0.00
0.00
2,240.98
2,240.98
0.00
33640VDE5
1609
BCD
249,000.00
11/15/2023
1.700
173.96
0.00
4,233.04
4,233.04
173.96
Beginning
Accrued may
not include investments
that redeemed
in the previous month
that had outstanding
accrued interest. Ending
Accrued includes
outstanding purchase interest.
Portfolio ENCI
AC
Run Date: 08/03/2022 - 15:48
Al (PRF_AI) 7.2.8
2022-10-19 Item #08D Page 59 of 8&rt Ve,. 7.3.6.1
City of Encinitas
Accrued Interest
CUSIP
Investment #
Security
Type
Par
Value
Sorted by Security Type - Maturity
Maturity Current Beginning
Date Rate Accrued Interest
Date
Adjusted Acc'd Int.
at Purchase
During Period
Interest
Earned
Interest
Received
Page 2
" Ending
Accrued Interest
Certificates
of Deposit - Bank
59013KAR7
1597
BCD
249,000.00
12/28/2023
2.400
32.75
0.00
5,976.00
5,976.00
32.75
06251AW48
1585
BCD
246,000.00
03/25/2024
2.900
1,915.43
0.00
7,134.00
7,134.00
1,915.43
34969RCS5
1616
BCD
249,000.00
03/27/2024
1.000
20.47
0.00
2,490.01
2,490.01
20.47
654062JRO
1625
BCD
249,000.00
03/28/2024
1.150
-15.68
0.00
2,863.51
2,855.67
-7.84
219255AK2
1623
BCD
249,000.00
03/29/2024
1.100
0.00
0.00
2,739.00
2,739.00
0.00
61760AG52
1593
BCD
246,000.00
06/13/2024
2.600
315.42
0.00
6,396.00
6,396.00
315.42
27002YEQ5
1594
BCD
249,000.00
06/20/2024
2.300
156.90
0.00
5,726.97
5,726.97
156.90
200056QRZ8
1595
BCD
249,000.00
06/26/2024
2.300
62.76
0.00
5,726.97
5,726.97
62.76
336460CQ1
1598
BCD
249,000.00
06/28/2024
2.300
31.38
0.00
5,726.97
5,726.97
31.38
761400BY1
1599
BCD
247,000.00
06/28/2024
2.300
46.69
0.00
5,681.00
5,681.00
46.69
33847E4E4
1626
BCD
249,000.00
09/30/2024
0.400
253.77
0.00
996.00
996.00
253.77
52465JHT7
1618
BCD
249,000.00
09/30/2024
1.000
0.00
0.00
2,490.02
2,490.02
0.00
710673AC8
1624
BCD
249,000.00
09/30/2024
1.000
-13.63
0.00
2,490.02
2,483.19
-6.80
73319FAD1
1611
BCD
249,000.00
11/04/2024
1.650
292.66
0.00
4,108.47
4,108.47
292.66
203522AT4
1610
BCD
249,000.00
11/08/2024
1.650
247.63
0.00
4,108.47
4,108.47
247.63
29367SJQ8
1607
BCD
249,000.00
11/08/2024
1.800
270.15
0.00
4,481.96
4,481.96
270.15
695292FP2
1613
BCD
249,000.00
11/08/2024
1.650
247.63
0.00
4,108.47
4,108.47
247.63
89579NCB7
1612
BCD
249,000.00
11/08/2024
1.800
270.15
0.00
4,481.96
4,481.96
270.15
300185JF3
1615
BCD
249,000.00
03/26/2025
1.000
27.29
0.00
2,490.01
2,490.01
27.29
59565QCS2
1617
BCD
249,000.00
03/27/2025
1.000
20.47
0.00
2,490.01
2,490.01
20.47
15201QCJ4
1620
BCD
248,000.00
03/31/2025
1.000
631.89
0.00
2,480.00
2,480.00
631.89
538036KU7
1622
BCD
249,000.00
03/31/2025
1.100
217.62
0.00
2,739.01
2,739.01
217.62
694231AD3
1621
BCD
249,000.00
03/31/2025
1.150
0.00
0.00
2,863.51
2,863.51
0.00
549104SS7
1627
BCD
249,000.00
10/02/2025
0.400
245.59
0.00
996.00
996.00
245.59
33625CDVB
1629
BCD
249,000.00
10/15/2025
0.400
46.39
0.00
995.98
995.98
46.39
51507LBZ6
1628
BCD
249,000.00
10/29/2025
0.400
2.73
0.00
995.97
995.97
2.73
33744AAW9
1630
BCD
249,000.00
11/18/2025
0.400
32.74
0.00
995.98
995.98
32.74
50116CCP2
1631
BCD
249,000.00
11/28/2025
0.450
0.00
0.00
1,120.55
1,120.55
0.00
90348JN48
1632
BCD
249,000.00
06/23/2026
0.750
35.81
0.00
1,867,49
1,867.49
35.81
649447UZO
1633
BCD
249,000.00
07/01/2026
0.700
4.78
0.00
1,743.00
1,743.00
4.78
856285C41
1650
BCD
248,000.00
01/13/2027
1.400
0.00
0.00
1,607.58
0.00
1,607.58
89235MMP3
1649
BCD
248,000.00
01/13/2027
1.350
0.00
0.00
1,550.17
0.00
1,550.17
39573LCE6
1648
BCD
248,000.00
01/14/2027
1.350
0.00
0.00
1,531.83
1,265.82
266.01
64034KAJO
1651
BCD
248,000.00
02/02/2027
1.450
0.00
0.00
1,467.95
0.00
1,467.95
Subtotal
12,644,000.00
24,629.77
0.00
236,378.82
232,047.40
28,961.19
Negotiable
CDs
15118RSN8
1614
NCB
249,000.00
10/30/2023
1.600
10.91
0.00
3,984.02
3,984.01
10.92
33767GAMO
1608
NCB
249,000.00
10/25/2024
1.850
75.72
0.00
4,606.54
4,606.54
75.72
" Beginning Accrued may not include investments that redeemed in the previous month that had outstanding accrued interest. Ending Accrued includes outstanding purchase interest.
Portfolio ENCI
AC
Run Date: 08/03/2022 - 15:48 Al (PRF_AI) 7.2.8
2022-10-19 Item #081311 Page 60 of B&riVer.7.3.6.1
City of Encinitas
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
Subtotal
498,000.00
86.63
0.00
8,590.56
8,590.55
86.64
U.S. Treasury Coupon Securities
912828S76
1523
TRC
0.00
07/31/2021
1.125
9,385.36
0.00
1,864.64
11,250.00
0.00
912828T34
1556
TRC
0.00
09/30/2021
1.125
5,655.74
0.00
5,594.26
11,250.00
0.00
9128281`96
1574
TRC
0.00
10/31/2021
2.000
6,739.13
0.00
13,260.87
20,000.00
0.00
912828XQB
1578
TRC
4,000,000.00
07/31/2022
2.000
33,370.17
0.00
80,000.00
80,000.00
33,370.17
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
15,642.27
0.00
37,500.00
37,500.00
15,642.27
9128282D1
1604
TRC
2,000,000.00
08/31/2023
1.375
9,191.58
0.00
27,500.00
27,500.00
9,191.58
91282CAP6
1636
TRC
2,000,000.00
10/15/2023
0.125
0.00
573.77
2,452.19
2,500.00
525.96
91282CBM2
1638
TRC
2,000,000.00
02/15/2024
0.125
0.00
987.57
2,451.66
2,500.00
939.23
91282CBR1
1655
TRC
1,000,000.00
03/15/2024
0.250
0.00
1,208.56
775.14
1,250.00
733.70
91282CCG4
1656
TRC
2,000,000.00
06/15/2024
0.250
0.00
1,153.85
1,564.73
2,500.00
218.58
912828Y87
1634
TRC
6,000,000.00
07/31/2024
1.750
0.00
45,828.73
102,969.61
105,000.00
43,798.34
912828YE4
1646
TRC
2,000,000.00
08/31/2024
1.250
0.00
8,831.52
24,524.46
25,000.00
8,355.98
912828YH7
1642
TRC
2,000,000.00
09/30/2024
1.500
0.00
8,114.75
29,426.23
30,000.00
7,540.98
912828YM6
1647
TRC
1,000,000.00
10/31/2024
1.500
0.00
2,812.50
14,714.67
15,000.00
2,527.17
91282CDH1
1653
TRC
1,000,000.00
11/15/2024
0.750
0.00
2,361.88
2,346.00
3,750.00
957.88
912828ZC7
1641
TRC
2,000,000.00
02/28/2025
1.125
0.00
7,948.37
22,072.01
22,500.00
7,520.38
912828ZFO
1652
TRC
1,000,000.00
03/31/2025
0.500
0.00
2,197.80
1,559.03
2,500.00
1,256.83
912828ZW3
1645
TRC
2,000,000.00
06/30/2025
0.250
0.00
108.70
4,904.89
5,000.00
13.59
91282CA137
1640
TRC
6,000,000.00
07/31/2025
0.250
0.00
6,546.96
14,709.95
15,000.00
6,256.91
91282CAJO
1643
TRC
2,000,000.00
08/31/2025
0.250
0.00
1,766.30
4,904.90
5,000.00
1,671.20
91282CAM3
1644
TRC
2,000,000.00
09/30/2025
0.250
0.00
1,352.46
4,904.37
5,000.00
1,256.83
91282CAT8
1657
TRC
1,000,000.00
10/31/2025
0.250
0.00
890.88
780.32
1,250.00
421.20
91282CB03
1639
TRC
2,000,000.00
02/28/2026
0.500
0.00
3,532.61
9,809.78
10,000.00
3,342.39
91282CBT7
1635
TRC
2,000,000.00
03/31/2026
0.750
0.00
4,057.38
14,713.11
15,000.00
3,770.49
91282CCJ8
1654
TRC
1,000,000.00
06/30/2026
0.875
0.00
1,643.65
2,755.13
4,375.00
23.78
91282CCP4
1659
TRC
4,000,000.00
07/31/2026
0.625
0.00
2,624.31
7,803.87
0.00
10,428.18
Subtotal
57,000,000.00
101,944.45
104,542.55
510,861.82
535,625.00
181,723.82
Federal Agency Coupon Securities
3130A8QS5
1524
FAC
0.00
07/14/2021
1.125
10,437.50
0.00
812.50
11,250.00
0.00
3134G9N94
1537
FAC
0.00
07/27/2021
1.875
16,041.67
0.00
2,708.33
18,750.00
0.00
3137EAEC9
1557
FAC
0.00
08/12/2021
1.125
8,687.50
0.00
2,562.50
11,250.00
0.00
313378JP7
1575
FAC
0.00
09/10/2021
2.375
14,645.83
0.00
9,104.17
23,750.00
0.00
3130AABG2
1555
FAC
0.00
11/29/2021
1.875
3,333.33
0.00
15,416.67
18,750.00
0.00
3130AG3Y9
1588
FAC
0.00
02/15/2022
2.420
18,284.44
0.00
30,115.56
48,400.00
0.00
3133EKNM4
1601
FAC
0.00
02/28/2022
2.200
15,033.33
0.00
28,966.67
44,000.00
0.00
" Beginning
Accrued may not include investments that redeemed
in the previous month
that had outstanding accrued interest.
Ending Accrued includes outstanding purchase
interest.
Portfolio ENCI
AC
Run Date: 08/03/2022 - 15:48
Al (PRF_AI) 7.2.8
2022-10-19
Item #081311
Page 61
of 8&rtVer.7.3.6.1
City of Encinitas
Accrued Interest
Sorted by Security Type - Maturity Date
Page 4
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
3133EHCTB
1536
FAC
0.00
03/15/2022
2.150 12,661.11
0.00
30,338.89
43,000.00
0.00
3130AEBM1
1573
FAC
0.00
06/10/2022
2.750 3,208.33
0.00
51,791.67
55,000.00
0.00
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
3135GOT78
1603
FAC
1,000,000.00
10/05/2022
2.000 4,777.78
0.00
20,000.00
20,000.00
4,777.78
3133EDWWB
1600
FAC
1,000,000.00
10/06/2022
2.600 6,138.89
0.00
26,000.00
26,000.00
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 20,694.44
0.00
50,000.00
50,000.00
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 8,654.17
0.00
20,100.00
20,100.00
8,654.17
3135GOU43
1602
FAC
2,000,000.00
09/12/2023
2.875 17,409.72
0.00
57,500.00
57,500.00
17,409.72
3133EHN25
1606
FAC
2,000,000.00
11/01/2023
2.200 7,333.33
0.00
44,000.00
44,000.00
7,333.33
3135GO6G3
1658
FAC
1,000,000.00
11/07/2025
0.500 0.00
1,694.44
1,555.56
2,500.00
750.00
3130AN4T4
1637
FAC
2,000,000.00
06/12/2026
0.875 0.00
340.28
17,159.72
16,576.39
923.61
Subtotal 20,000,000.00 181,722.48 2,034.72 555,332.24 658,026.39 81,063.05
Total 130,791,550.48 345,835.50 106,577.27 1,418,137.22 1,514,773.33 355,776.66
" Beginning Accrued may not include investments that redeemed in the previous month that had outstanding accrued interest. Ending Accrued includes outstanding purchase interest.
Portfolio ENCI
AC
Run Date: 08/03/2022 - 15:48 Al (PRF_AI) 7.2.8
2022-10-19 Item #081311 Page 62 of B&riVer.7.3.6.1
City of Encinitas - YTD Report
Realized Gains and Losses
Sorted By Maturity/Sale/Call Date
Sales/Calls/Maturities: July 1, 2021 - June 30, 2022
CITY OF ENCINITAS
505 S. VULCAN
Encinitas, CA 92024
(760)633-2641
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
1524 FAC
02/13/2017
2,000,000.00
07/14/2021
1,612
2,000,000.00
2,000,000.00
0.00
155,717.50
155,717.50
1.763
Federal Home Loan Bank
1.125
07/14/2021
1,612
1537 FAC
06/23/2017
2,000,000.00
07/27/2021
1,495
2,000,000.00
2,000,000.00
0.00
140,559.67
140,559.67
1.716
Federal Home Loan Mortgage
1.875
07/27/2021
1,495
1523 TRC
02/13/2017
2,000,000.00
07/31/2021
1,629
2,000,000.00
2,000,000.00
0.00
156,781.99
156,781.99
1.756
U.S. Treasury Notes
1.125
07/31/2021
1,629
1557 FAC
02/23/2018
2,000,000.00
08/12/2021
1,266
2,000,000.00
2,000,000.00
0.00
168,466.50
168,466.50
2.429
Federal Home Loan Mortgage
1.125
08/12/2021
1,266
1575 FAC
06/26/2018
2,000,000.00
09/10/2021
1,172
2,000,000.00
2,000,000.00
0.00
172,135.89
172,135.89
2.680
Federal Home Loan Bank
2.375
09/10/2021
1,172
1556 TRC
02/23/2018
2,000,000.00
09/30/2021
1,315
2,000,000.00
2,000,000.00
0.00
177,069.02
177,069.02
2.457
U.S. Treasury Notes
1.125
09/30/2021
1,315
1574 TRC
06/26/2018
2,000,000.00
10/31/2021
1,223
2,000,000.00
2,000,000.00
0.00
175,210.60
175,210.60
2.615
U.S. Treasury Notes
2.000
10/31/2021
1,223
1555 FAC
02/23/2018
2,000,000.00
11/29/2021
1,375
2,000,000.00
2,000,000.00
0.00
187,360.00
187,360.00
2.487
Federal Home Loan Bank
1.875
11/29/2021
1,375
1530 BCD
06/30/2017
245,000.00
12/30/2021
1,644
245,000.00
245,000.00
0.00
20,966.68
20,966.68
1.900
Citizens State Bankl
1.900
12/30/2021
1,644
1551 BCD
07/03/2017
245,000.00
02/03/2022
1,676
245,000.00
245,000.00
0.00
22,499.60
22,499.60
2.000
City National Bank Metropolis
2.000
02/03/2022
1,676
1588 FAC
03/27/2019
2,000,000.00
02/15/2022
1,056
2,000,000.00
2,000,000.00
0.00
128,693.33
128,693.33
2.224
Federal Home Loan Bank
2.420
02/15/2022
1,056
1601 FAC
06/26/2019
2,000,000.00
02/28/2022
978
2,000,000.00
2,000,000.00
0.00
94,693.78
94,693.78
1.767
FEDERAL FARM CREDIT BANK
2.200
02/28/2022
978
1536 FAC
06/23/2017
2,000,000.00
03/15/2022
1,726
2,000,000.00
2,000,000.00
0.00
174,014.44
174,014.44
1.840
Federal Farm Credit
2.150
03/15/2022
1,726
1573 FAC
06/26/2018
2,000,000.00
06/10/2022
1,445
2,000,000.00
2,000,000.00
0.00
219,861.55
219,861.55
2.777
Federal Home Loan Bank
2.750
06/10/2022
1,445
1528 BCD
06/21/2017
245,000.00
06/21/2022
1,826
245,000.00
245,000.00
0.00
28,803.28
28,803.28
2.350
Goldman Sachs Bank USA
2.350
06/21/2022
1,826
1533 BCD
06/30/2017
245,000.00
06/30/2022
1,826
245,000.00
245,000.00
0.00
24,513.32
24,513.32
2.000
BankVista
2.000
06/30/2022
1,826
1535 BCD
06/30/2017
245,000.00
06/30/2022
1,826
245,000.00
245,000.00
0.00
27,577.40
27,577.40
2.250
Wells Fargo Bank
2.250
06/30/2022
1,826
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08115/2022 - 15:08
Total Realized Gains/Losses 25,225,000.00 25,225,000.00
No fiscal year history available
0.00 2,074,924.55 2,074,924.55 2.204
Portfolio ENCI
AC
CG (PRF_CGR1) 7.1.1
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 63 of 88
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
GainlLoss
Earnings
Net Earnings Yield 365
1552
BCD
07/19/2017
245,000.00
07/19/2022
1,826
245,000.00
245,075.95
75.95
27,912.55
27,988.50
2.306
Capital One NA
2.300
1,808
06/30/2022
1553
BCD
07/19/2017
245,000.00
07/19/2022
1,826
245,000.00
245,075.95
75.95
27,912.55
27,988.50
2.306
Capital One Bank USA, NA
2.300
1,808
06/30/2022
1554
BCD
07/19/2017
245,000.00
07/19/2022
1,826
245,000.00
245,056.35
56.35
26,092.16
26,148.51
2.155
TIAA FSB
2.150
1,808
06/30/2022
1578
TRC
06/26/2018
4,000,000.00
07/31/2022
1,496
3,997,819.18
4,002,800.00
4,980.82
427,674.16
432,654.98
2.694
U.S. Treasury Notes
2.000
1,466
06/30/2022
1572
TRC
06/26/2018
2,000,000.00
08/31/2022
1,527
1,997,378.44
2,000,980.00
3,601.56
213,512.95
217,114.51
2.706
U.S. Treasury Notes
1.875
1,466
06/30/2022
1579
TRC
06/26/2018
2,000,000.00
09/30/2022
1,557
1,996,091.44
2,000,300.00
4,208.56
213,478.74
217,687.30
2.715
U.S. Treasury Notes
1.875
1,466
06/30/2022
1589
FAC
03/27/2019
2,000,000.00
10/05/2022
1,288
1,999,049.62
1,999,060.00
10.38
142,314.07
142,324.45
2,180
Federal Nat'l Mortgage Assoc.
2,000
1,192
06/30/2022
1603
FAC
06/26/2019
1,000,000.00
10/05/2022
1,197
1,000,656.25
999,530.00
-1,126.25
52,703.03
51,576.78
1.709
Federal Nat'l Mortgage Assoc.
2.000
1,101
06/30/2022
1600
FAC
06/26/2019
1,000,000.00
10/06/2022
1,198
1,002,081.95
1,002,210.00
128.05
54,583.06
54,711.11
1.810
Federal Farm Credit
2.600
1,101
06/30/2022
1558
FAC
02/23/2018
2,000,000.00
11/23/2022
1,734
1,993,522.81
1,993,300.00
-222.81
230,065.03
229,842.22
2.648
Federal Farm Credit
1.820
1,589
06/30/2022
1590
FAC
03/27/2019
2,000,000.00
02/02/2023
1,408
2,003,237.36
1,998,640.00
-4,597.36
145,042.91
140,445.55
2.147
Federal Farm Credit
2.500
1,192
06/30/2022
1561
BCD
03/28/2018
249,000.00
03/28/2023
1,826
249,000.00
249,883.95
883.95
30,783.26
31,667.21
2.983
Medallion Bank UT
2.900
1,556
06/30/2022
1562
BCD
03/29/2018
246,000.00
03/29/2023
1,826
246,000.00
246,865.92
865.92
30,392.80
31,258.72
2.983
BMW Bank North America
2.900
1,555
06/30/2022
1563
BCD
03/29/2018
246,000.00
03/29/2023
1,826
246,000.00
246,774.90
774.90
29,868.78
30,643.68
2.924
Citi Bank NA
2.850
1,555
06/30/2022
1568
BCD
03/29/2018
246,000.00
03/29/2023
1,826
246,000.00
246,774.90
774.90
29,868.78
30,643.68
2.924
Enerbank USA
2,850
1,555
06/30/2022
1564
BCD
03/29/2018
249,000.00
03/29/2023
1,826
249,000.00
249,878.97
878.97
30,763.47
31,642.44
2,983
Industrial & Comm Bank
China
2.900
1,555
06/30/2022
1566
BCD
03/29/2018
246,000.00
03/29/2023
1,826
246,000.00
246,683.88
683.88
29,344.77
30,028.65
2.865
LCA Bank Corp
2.800
1,555
06/30/2022
1565
BCD
03/29/2018
246,000.00
03/29/2023
1,826
246,000.00
246,865.92
865.92
30,392.80
31,258.72
2.983
Morgan Stanley Bank
2.900
1,555
06/30/2022
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
No fiscal year history available
Portfolio ENCI
AC
CG (PRF_CGU1) 7.1.1
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 64 of 88
Unrealized Gains and Losses
Open Positions through June 30, 2022 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
GainlLoss
Earnings
Net Earnings Yield 365
1569 BCD
04/1112018
246,000.00
04/11/2023
1,826
246,000.00
246,691.26
691.26
29,619,06
30,310.32
2.917
First Source Bank
2.850
1,542
06/30/2022
1596 BCD
06/21/2019
249,000.00
06/21/2023
1,461
249,000.00
247,630.50
-1,369.50
16,961.02
15,591.52
2.068
Denver Savings Bank
2.250
1,105
06/30/2022
1580 BCD
06/26/2018
245,000.00
06/26/2023
1,826
245,000.00
246,085.35
1,085.35
32,472.91
33,558.26
3.410
American Express National Bank
3.300
1,466
06/30/2022
1605 FAC
06/26/2019
4,000,000.00
06/26/2023
1,461
3,998,863.01
3,953,120.00
-45,743.01
216,858.34
171,115.33
1.419
Federal Farm Credit
1.770
1,101
06/30/2022
1570 BCD
06/27/2018
245,000.00
06/27/2023
1,826
245,000.00
246,078.00
1,078.00
32,450.76
33,528.76
3.410
Sallie Mae Bank/Murray
3.300
1,465
06/30/2022
1571 BCD
06/29/2018
245,000.00
06/29/2023
1,826
245,000.00
246,058.40
1,058.40
32,406.41
33,464.81
3.408
Comenity Capital Bank
3.300
1,463
06/30/2022
1591 FAC
03/27/2019
1,000,000.00
07/26/2023
1,582
997,725.56
990,340.00
-7,385.56
72,483,90
65,098.34
1.998
FEDERAL FARM CREDIT BANK
2,010
1,192
06/30/2022
1592 TRC
03/27/2019
3,000,000.00
07/31/2023
1,587
2,971,299.03
2,945,850.00
-25,449.03
209,056.29
183,607.26
1.892
U.S. Treasury Notes
1.250
1,192
06/30/2022
1604 TRC
06/26/2019
2,000,000.00
08/31/2023
1,527
1,992,066.55
1,963,040.00
-29,026.55
103,377.70
74,351.15
1.237
U.S. Treasury Notes
1.375
1,101
06/30/2022
1602 FAC
06/26/2019
2,000,000.00
09/12/2023
1,539
2,024,648.88
1,999,820.00
-24,828.88
111,247.49
86,418.61
1.415
Federal Nat'l Mortgage Assoc.
2.875
1,101
06/30/2022
1619 BCD
03/30/2020
249,000.00
09/29/2023
1,278
249,000.00
242,672.91
-6,327.09
5,046.81
-1,280.28
-0.228
ALMA BANK
0.900
822
06/30/2022
1636 TRC
07/08/2021
2,000,000.00
10/15/2023
829
1,996,804.13
1,928,120.00
-68,684.13
4,881.32
-63,802.81
-3.258
U.S. Treasury Notes
0.125
358
06/30/2022
1614 NCB
10/30/2019
249,000.00
10/30/2023
1,461
249,000.00
244,405.95
-4,594.05
10,642.22
6,048.17
0.909
CELTIC BANK
1.600
975
06/30/2022
1606 FAC
06/26/2019
2,000,000.00
11/01/2023
1,589
2,010,072.33
1,981,980.00
-28,092.33
109,843.44
81,751.11
1.348
FEDERAL FARM CREDIT BANK
2.200
1,101
06/30/2022
1609 BCD
11/15/2019
249,000.00
11/15/2023
1,461
249,000.00
244,547.88
-4,452.12
11,110.28
6,658.16
1.019
FIRST SERVICE BANK
1,700
958
06/30/2022
1597 BCD
06/28/2019
249,000.00
12/28/2023
1,644
249,000.00
246,527.43
-2,472.57
17,977.13
15,504.56
2.070
Merrick Bank
2.400
1,098
06/30/2022
1638 TRC
07/08/2021
2,000,000.00
02/15/2024
952
1,994,296.71
1,910,860.00
-83,436.71
5,888.99
-77,547.72
-3.965
U.S. Treasury Notes
0.125
358
06/30/2022
1655 TRC
03/09/2022
1,000,000.00
03/15/2024
737
977,810.38
954,810.00
-23,000.38
4,835.52
-18,164.86
-5.948
U.S. Treasury Notes
0.250
114
06/30/2022
1585 BCD
03/25/2019
246,000.00
03/25/2024
1,827
246,000.00
244,814.28
-1,185.72
23,336.98
22,151.26
2.753
BANK HAPOALIM BM NY
2,900
1,194
06/30/2022
1616 BCD
03/27/2020
249,000.00
03/27/2024
1,461
249,000.00
239,784.51
-9,215.49
5,628.11
-3,587.38
-0.637
FORTUNE BANK ARNOLD
1.000
825
06/30/2022
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
No fiscal year history available
Portfolio ENCI
AC
CG (PRF_CGU1) 7.1.1
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 65 of 88
Unrealized Gains and Losses
Open Positions through June 30, 2022 Page 3
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
GainlLoss
Earnings
Net Earnings Yield 365
1625 BCD
03/31/2020
249,000.00
03/28/2024
1,458
249,000.00
240,397.05
-8,602.95
6,440.94
-2,162.01
-0.386
NICOLET NATIONAL BANK
1.150
821
06/30/2022
1623 BCD
03/30/2020
249,000.00
03/29/2024
1,460
249,000.00
240,167.97
-8,832.03
6,168.38
-2,663.65
-0.475
CORNHUSKER BANK
1.100
822
06/30/2022
1593 BCD
06/13/2019
246,000.00
06/13/2024
1,827
246,000.00
242,846.28
-3,153.72
19,520.94
16,367.22
2.180
MORGAN STANLEY PRIVATE
BANK
2.600
1,114
06/30/2022
1656 TRC
03/09/2022
2,000,000.00
06/15/2024
829
1,947,307.56
1,896,560.00
-50,747.56
9,966.04
-40,781.52
-6.705
U.S. Treasury Notes
0.250
114
06/30/2022
1594 BCD
06/20/2019
249,000.00
06/20/2024
1,827
249,000.00
244,308.84
-4,691.16
17,353.50
12,662.34
1.678
EAG L E BA N K
2.300
1,106
06/30/2022
1595 BCD
06/26/2019
249,000.00
06/26/2024
1,827
249,000.00
244,236.63
-4,763.37
17,259.36
12,495.99
1.665
COMMERCE BANK GENEVA MN
2.300
1,100
06/30/2022
1598 BCD
06/28/2019
249,000.00
06/28/2024
1,827
249,000.00
244,211.73
-4,788.27
17,227.98
12,439.71
1 661
First State Bank Dequeen
2,300
1,098
06/30/2022
1599 BCD
06/28/2019
247,000.00
06/28/2024
1,827
247,000.00
242,262.54
-4,737.46
17,105.25
12,367.79
1.663
REVERE BANK
2.300
1,099
06/30/2022
1634 TRC
07/08/2021
6,000,000.00
07/31/2024
1,119
6,168,317.69
5,849,520.00
-318,797.69
23,787.30
-295,010.39
-4.876
U.S. Treasury Notes
1.750
358
06/30/2022
1646 TRC
07/08/2021
2,000,000.00
08/31/2024
1,150
2,035,726.09
1,926,800.00
-108,926.09
8,375.55
-100,550.54
-5.036
U.S. Treasury Notes
1.250
358
06/30/2022
1626 BCD
09/30/2020
249,000.00
09/30/2024
1,461
249,000.00
233,295.57
-15,704.43
1,743.68
-13,960.75
-3.203
FLAGSTAR BANK FSB
0.400
639
06/30/2022
1618 BCD
03/30/2020
249,000.00
09/30/2024
1,645
249,000.00
236,450.40
-12,549.60
5,607.66
-6,941.94
-1.238
LEGENDS BANK
1.000
822
06/30/2022
1624 BCD
03/31/2020
249,000.00
09/30/2024
1,644
249,000.00
236,450.40
-12,549.60
5,600.84
-6,948.76
-1.241
PEOPLES BANK/SARDIS TN
1.000
821
06/30/2022
1642 TRC
07/08/2021
2,000,000.00
09/30/2024
1,180
2,047,674.26
1,934,680.00
-112,994.26
8,662.99
-104,331.27
-5.195
U.S. Treasury Notes
1.500
358
06/30/2022
1608 NCB
10/28/2019
249,000.00
10/25/2024
1,824
249,000.00
240,775.53
-8,224.47
12,330,38
4,105.91
0.616
First Bank Puerto Rico
1,850
977
06/30/2022
1647 TRC
07/08/2021
1,000,000.00
10/31/2024
1,211
1,024,212.94
966,130.00
-58,082.94
4,552.61
-53,530.33
-5.329
U.S. Treasury Notes
1.500
358
06/30/2022
1611 BCD
11/04/2019
249,000.00
11/04/2024
1,827
249,000.00
239,552.94
-9,447.06
10,907.15
1,460.09
0.221
POPPY BANK
1.650
969
06/30/2022
1610 BCD
11/08/2019
249,000.00
11/08/2024
1,827
249,000.00
239,503.14
-9,496.86
10,862.12
1,365.26
0.207
COMMUNITY BANK
1.650
965
06/30/2022
1607 BCD
11/08/2019
249,000.00
11/08/2024
1,827
249,000.00
240,347.25
-8,652.75
11,849.57
3,196.82
0.486
ENTERPRISE BANK AND TRUST
1,800
965
06/30/2022
1613 BCD
11/08/2019
249,000.00
11/08/2024
1,827
249,000.00
239,503.14
-9,496.86
10,862.12
1,365.26
0.207
PADUCAH BANK AND TRUST
1.650
965
06/30/2022
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
No fiscal year history available
Portfolio ENCI
AC
CG (PRF_CGU1) 7.1.1
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 66 of 88
Unrealized Gains and Losses
Open Positions through June 30, 2022 Page 4
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
GainlLoss
Earnings
Net Earnings Yield 365
1612 BCD
11/08/2019
249,000.00
11/08/2024
1,827
249,000.00
240,347.25
-8,652.75
11,849.57
3,196.82
0.486
TRIAD BANK FRONTENAC MO
1.800
965
06/30/2022
1653 TRC
03/09/2022
1,000,000.00
11/15/2024
982
978,316.57
948,200.00
-30,116.57
5,193.82
-24,922.75
-8.157
U.S. Treasury Notes
0.750
114
06/30/2022
1641 TRC
07/08/2021
2,000,000.00
02/28/2025
1,331
2,031,297.19
1,903,600.00
-127,697.19
10,556.70
-117,140.49
-5.880
U.S. Treasury Notes
1.125
358
06/30/2022
1615 BCD
03/26/2020
249,000.00
03/26/2025
1,826
249,000.00
233,557.02
-15,442.98
5,634.93
-9,808.05
-1.741
EVERGREEN BANK GROUP
1.000
826
06/30/2022
1617 BCD
03/27/2020
249,000.00
03/27/2025
1,826
249,000.00
233,542.08
-15,457.92
5,628.11
-9,829.81
-1.747
MIDCOUNTRY BANK
1.000
825
06/30/2022
1620 BCD
03/30/2020
248,000.00
03/31/2025
1,827
248,000.00
232,621.52
-15,378.48
5,591.89
-9,786.59
-1.750
CENTERSTATE BANK NA
1.000
823
06/30/2022
1622 BCD
03/31/2020
249,000.00
03/31/2025
1,826
249,000.00
234,127.23
-14,872.77
6,168.40
-8,704.37
-1.552
LIVE OAK BANKING COMPANY
1.100
822
06/30/2022
1621 BCD
03/30/2020
249,000.00
03/31/2025
1,827
249,000.00
234,455.91
-14,544.09
6,448.78
-8,095.31
-1.444
PACIFIC ENTERPRISE BANK
1.150
822
06/30/2022
1652 TRC
03/09/2022
1,000,000.00
03/31/2025
1,118
967,867.29
933,280.00
-34,587.29
5,207.57
-29,379.72
-9.719
U.S. Treasury Notes
0.500
114
06/30/2022
1645 TRC
07/08/2021
2,000,000.00
06/30/2025
1,453
1,979,275.64
1,841,400.00
-137,875.64
11,680.53
-126,195.11
-6.500
U.S. Treasury Notes
0.250
358
06/30/2022
1640 TRC
07/08/2021
6,000,000.00
07/31/2025
1,484
5,931,711.59
5,508,960.00
-422,751.59
36,421.54
-386,330.05
-6.640
U.S. Treasury Notes
0.250
358
06/30/2022
1643 TRC
07/08/2021
2,000,000.00
08/31/2025
1,515
1,975,895.83
1,831,260.00
-144,635.83
12,363.23
-132,272.60
-6.825
U.S. Treasury Notes
0.250
358
06/30/2022
1644 TRC
07/08/2021
2,000,000.00
09/30/2025
1,545
1,974,550.57
1,827,260.00
-147,290.57
12,579.94
-134,710.63
-6.956
U.S. Treasury Notes
0.250
358
06/30/2022
1627 BCD
10/02/2020
249,000.00
10/02/2025
1,826
249,000.00
226,223.97
-22,776.03
1,738.23
-21,037.80
-4.841
LUANA SAVINGS BANK
0.400
637
06/30/2022
1629 BCD
11/13/2020
249,000.00
10/15/2025
1,797
249,000.00
225,885.33
-23,114.67
1,620.86
-21,493.81
-5.304
1ST SECURITY BK OF WASH
0,400
594
06/30/2022
1628 BCD
10/29/2020
249,000.00
10/29/2025
1,826
249,000.00
225,641.31
-23,358.69
1,661.77
-21,696.92
-5.222
LANDMARK COMMUNITY BANK
0.400
609
06/30/2022
1657 TRC
03/09/2022
1,000,000.00
10/31/2025
1,332
951,493.18
911,250.00
-40,243.18
5,320.37
-34,922.81
-11.751
U.S. Treasury Notes
0.250
114
06/30/2022
1658 FAC
03/09/2022
1,000,000.00
11/07/2025
1,339
957,634.45
918,100.00
-39,534.45
5,490.01
-34,044.44
-11.382
Federal Nat'l Mortgage Assoc.
0.500
114
06/30/2022
1630 BCD
11/18/2020
249,000.00
11/18/2025
1,826
249,000.00
225,315.12
-23,684.88
1,607.21
-22,077.67
-5.495
FIRST US BANK
0,400
589
06/30/2022
1631 BCD
11/30/2020
249,000.00
11/28/2025
1,824
249,000.00
225,526.77
-23,473.23
1,771.39
-21,701.84
-5.513
KS STATEBANK
0.450
577
06/30/2022
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
No fiscal year history available
Portfolio ENCI
AC
CG (PRF_CGU1) 7.1.1
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 67 of 88
Unrealized Gains and Losses
Open Positions through June 30, 2022 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
GainlLoss
Earnings
Net Earnings Yield 365
1639 TRC
07/08/2021
2,000,000.00
02/28/2026
1,696
1,984,160.07
1,822,900.00
-161,260,07
14,047.97
-147,212.10
-7.564
U.S. Treasury Notes
0.500
358
06/30/2022
1635 TRC
07/08/2021
2,000,000.00
03/31/2026
1,727
2,000,990.88
1,836,960.00
-164,030.88
14,453.99
-149,576.89
-7.621
U.S. Treasury Notes
0.750
358
06/30/2022
1637 FAC
07/08/2021
2,000,000.00
06/12/2026
1,800
2,008,090.25
1,835,360.00
-172,730.25
15,149.97
-157,580.28
-8.001
Federal Home Loan Bank
0.875
358
06/30/2022
1632 BCD
06/23/2021
249,000.00
06/23/2026
1,826
249,000.00
224,931.66
-24,068.34
1,903.30
-22,165.04
-8.734
UBS BANK USA
0.750
372
06/30/2022
1654 TRC
03/09/2022
1,000,000.00
06/30/2026
1,574
965,940.68
918,010.00
-47,930.68
5,414.56
-42,516.12
-14.093
U.S. Treasury Notes
0.875
114
06/30/2022
1633 BCD
06/30/2021
249,000.00
07/01/2026
1,827
249,000.00
224,458.56
-24,541.44
1,747.78
-22,793.66
-9.129
NEW YORK COMMUNITY BANK
0.700
366
06/30/2022
1659 TRC
03/10/2022
4,000,000.00
07/31/2026
1,604
3,820,780.87
3,630,144.31
-190,636,56
21,585.43
-169,051.13
-14.292
U.S. Treasury Notes
0,625
113
06/30/2022
1650 BCD
01/13/2022
248,000.00
01/13/2027
1,826
248,000.00
227,289.52
-20,710.48
1,607.58
-19,102.90
-16.636
STATE BANK OF INDIA
1.400
169
06/30/2022
1649 BCD
01/13/2022
248,000.00
01/13/2027
1,826
248,000.00
226,773.68
-21,226.32
1,550.17
-19,676.15
-17.135
TOYOTA FINANCIAL SVGS BK
1.350
169
06/30/2022
1648 BCD
01/14/2022
248,000.00
01/14/2027
1,826
248,000.00
226,619.92
-21,380.08
1,531.83
-19,848.25
-17.492
GREENSTATE CREDIT UNION
1.350
167
06/30/2022
1651 BCD
02/02/2022
248,000.00
02/02/2027
1,826
248,000.00
227,520.16
-20,479.84
1,467.95
-19,011.89
-18.779
NELNET BANK INC
1.450
149
06/30/2022
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
Total Current Bond Positions 89,846,667.23 86,528,513.89-3,318,153.34 3,290,010.29-28,143.05 -3.251
Total Realized and Unrealized Gains/Losses
No fiscal year history available
-3,318,153.34
5,364,934.84 2,046,781.50 -2.055
Portfolio ENCI
AC
CG (PRF_CGU1) 7.1.1
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 68 of 88
Unrealized Gains and Losses
Page 1
Pass booklChecking Accounts through June 30, 2022
Investment #
Market Value
Inv.
Purchase
Issuer Type
Date
Current Rate
Book Value
Market Date
1003 LA1
07/01/2021
0.050
1,072,561.71
1,072,561.71
CA Asset Management Program
06/30/2022
1584 LA1
07/01/2021
0.060
1,228,627.31
1,196,437.16
SD County Investment Pool
06/30/2022
1012 LA5
07/01/2021
0.262
34,266,457.21
33,825,290.76
CA LAIF
06/30/2022
1010 PA1
07/01/2021
5,577,158.84
5,577,158.84
Union Bank Checking Acct.
06130/2018
1004 LA3
07/01/2021
0.030
4,081,904.25
4,081,904.25
US BANK
04/30/2019
1524 FAC
02/13/2017
1.125
0.00
0.00
Federal Home Loan Bank
1537 FAC
06/23/2017
1.875
0.00
0.00
Federal Home Loan Mortgage
1523 TRC
02/13/2017
1.125
0.00
0.00
U.S. Treasury Notes
1557 FAC
02/23/2018
1.125
0.00
0.00
Federal Home Loan Mortgage
1575 FAC
06/26/2018
2.375
0.00
0.00
Federal Home Loan Bank
1556 TRC
02/23/2018
1.125
0.00
0.00
U.S. Treasury Notes
1574 TRC
06/26/2018
2.000
0.00
0.00
U.S. Treasury Notes
1555 FAC
02/23/2018
1.875
0.00
0.00
Federal Home Loan Bank
1530 BCD
06/30/2017
1.900
0.00
0.00
Citizens State Bankl
1551 BCD
07/03/2017
2.000
0.00
0.00
City National Bank Metropolis
1588 FAC
03/27/2019
2.420
0.00
0.00
Federal Home Loan Bank
1601 FAC
06/26/2019
2.200
0.00
0.00
FEDERAL FARM CREDIT BANK
1536 FAC
06/23/2017
2.150
0.00
0.00
Federal Farm Credit
1573 FAC
06/26/2018
2.750
0.00
0.00
Federal Home Loan Bank
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
No fiscal year history available
Portfolio ENCI
AC
CG (PRF_CGU2) 7.1.1
Report Ver. 7.3.6.1
2022-10-19 Item #08D Page 69 of 88
Unrealized Gains and Losses
Passbook/Checking Accounts through June 30, 2022
Page 2
Investment #
Market Value
Inv.
Purchase
Issuer Type
Date
Current Rate
Book Value
Market Date
1528 BCD
06/2112017
2.350
0.00
0.00
Goldman Sachs Bank USA
1533 BCD
06/30/2017
2.000
0.00
0.00
BankVista
1535 BCD
06/30/2017
2.250
0.00
0.00
Wells Fargo Bank
Data Updated: SET_ANNU: 08/15/2022 15:08
Run Date: 08/15/2022 - 15:08
Total Portfolio
136,073, 376.55 132,281,866.61
No fiscal year history available
Portfolio ENCI
AC
CG (PRF_CGU2) 7.1.1
Report Ver. 7.3.6.1
2022-10-19 Item #08131 Page 70 of 88
The City of Encinitas
Cash and Investments by Fund
I ZDZ1-ZZ
GENERALFUND
INFRASTRUCTURE FUNDS
GRANTFUNDS
DEVELOPMENT IMPACT FUNDS
MUNICIPAL IMPROVEMENTS DISTRICTS
DEBT SERVICE FUNDS
CAPITAL IMPROVEMENTS FUNDS
CARDIFF SANITARY FUNDS
ENCINITAS SANITARY FUNDS
SAN DIEGUITO WATER DISTRICT FUNDS
OTHER PROPRIETARY FUNDS
INTERNAL SERVICE FUNDS
711 - CFD I#1 DEBT SERVICE
712 - CFD I#1 ADMINISTRATION
931:932 - ERGA
119 - OPPORTUNITY FUND
RESTRICTED
ADMIN COSTS BANK FEES
TOTAL PER GENERAL LEDGER
To reconcile from GL to Investment Report:
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
Cash - Checking Account Bank Balance
Total Cash and Investments
CASH AND INVESTMENTS
FY ZDZZ Actual Percentage of Total Interest Income
3Z,515,611
Z5.55%
571,009
Z,017,093
1.59%
4Z,974
1,040,057
0.83%
19,9Z6
2,901,861
2.20%
91,725
4,459,385
3.50%
45,355
31,500,16Z
24.76%
-
9,9Z8,8Z5
7.80%
105,195
1Z,093,770
9.50%
1Z6,591
Z0,296,581
15.95%
Z1Z,770
200,925
0.16%
Z,667
7,772,037
6.11%
-
2,291,988
1.79%
14,026
25,761
0.02%
127
-
-
19,949
303,744
0.24%
-
-
Z03,304
1Z7,Z37,800
100.00%
1,455,618
(3,210,281)
(3,555)
(303,743)
2,984,487
126,704,708
5,577,159
132,291,867
2022-10-19 Item #08D Page 71 of 88
Attachment 3
CITY OF ENCINITAS
INVESTMENT OF BOND PROCEEDS
Fur the Fiscal Year ended tune 30, 2022
GOVERNMENTAL FUNDS TRUSTEE CASH & INVESTMENTS
Yield
Maturity
Date
Market
Value
FY 2021-2022
Income
Budget
ENCINITAS PUBLIC FINANCING AUTHORITY
2013 LEASE REVENUE BONDS (COMM PARK DEVELOPMENT)
Bond Fund Blackrock T-Fund Institutional
1.271%
$ 6
$ 6
2014 A & B LEASE REVENUE BONDS
(PACIFIC VIEW PROPERTY & MOONLIGHT BEACH LIFEGUARD TOWER)
Bond Fund Blackrock T-Fund Institutional
$ 6
$ 6
$
1.321%
$ 4
$ 4
2015 LEASE REVENUE BONDS (PUBLIC LIBRARY)
Bond Fund Blackrock T-Fund Institutional
$ 4
$ 4
$
1.321%
$ 17
$ 18
$
2017 LEASE REVENUE BONDS (PARK)
Bond Fund First American Government Obligations Fund
$ 17
$ 18
$
0.921%
$ 2
$ 3
2021 FEDERALLY TAXABLE LEASE REVENUE REFUNDING BONDS
(PACIFIC VIEW PROPERTY)
Interest Account First American Government Obligations Fund
$ 2
$ 3
0.841%
$ 14,992
$ 2
$ 14,992 $ 2
ENCINITAS PUBLIC FINANCING AUTHORITY (TOTALS) (A) $ 15,021 $ 33
$
$
TOTALS FOR GOVERNMENTAL FUNDS (A) $ 15,021
$
$ 33
ENTERPRISE FUNDS TRUSTEE CASH & INVESTMENTS
Yield
Maturity
Date
Market
Value
FY 2021-2022
Income
Budget
SAN DIEGUITO WATER DISTRICT
2007 WATER REVENUE BONDS
Bond Fund ]P MORGAN US TRSY PLUS PREM
Reserve Fund-SDWD BLACKROCK FEDERAL FD INSTL 81
0.001%
1.33%
$ 0
640,239
$ 4
680
2014 WATER REVENUE BONDS
Debt Service Fund Blackrock T-Fund Institutional
TOTAL
$ 640,239
$ 684
$
1.31 %
$ 3
$ 3
TOTAL
TOTALS FOR ENTERPRISE FUNDS B
$ 3
$ 3
$
$ 640,242
$ 687
$
TOTAL TRUSTEE CASH & INVESTMENTS (A) + (B)
$ 655,263
1
$ 720
$
NOTE: The City's leases for capital equipment do not require any trustee deposits, and thus, are not listed on this summary.
2022-10-19 Item #080 Page 72 of 88
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 2019, 20242
Philosophy
The Investment Policy of the Encinitas City Council for the City of Encinitas represents the financial
guidelines for the City � 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 Annual 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.
2022-10-19 Item #0813 Page 73 of 88
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.
111. 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 Govt 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. Liquidity - 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 § 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
2022-10-19 Item #08D Page 74 of 88
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.
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 qualified 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,
2022-10-19 Item #08D Page 75 of 88
(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.
VIII. 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 § general banking
arrangements, in which excess cash balances are §wept "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 gov t 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
2022-10-19 Item #081) Page 76 of 88
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
deposit limit of the ,.,a.,;,,,um 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 Gov t 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 (Total)
20% 20%
Per Issuer 10% 10%
(A) Money Market Mutual Funds N/A 20%
Per Issuer 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.
(8) Mutual Funds N/A 10%
Per Issuer 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 §) NO LIMIT 30%
Per Issuer NO LIMIT 5%
All CD � 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 §atisfactory "in its most recent evaluation by regulators of its record of
meeting the credit needs of its community.
2022-10-19 Item #0813 Page 77 of 88
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
(6) Negotiable Certificates of Deposit 30% 30%
Per Issuer 5%
All Negotiable CD § must be issued by a provider rated either: (1) Aaa by Moody §,
(2) AAA by Standard & Poors, or (3) Aa 1 by Moody § and AA+ by Standard & Poor �.
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 §) 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 § must have
an underlying credit rating of A 1/P1, and are limited to 5% of the total account value
per issuer.
(6) 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 40%
Per Issuer 10%
25%
5%
Commercial Paper (CP) is a short-term I.O. 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 organized
and operating within the United States, have assets in excess of $500 million, and
debt other than commercial paper must be in a rating category of A "or its equivalent
or higher by a nationally recognized statistical rating organization or the issuing
corporation must be organized within the U.S. as a special purpose corporation,
trust, or LLC, have program wide credit enhancements, and have commercial paper
that is rated A-1 "or higher or the equivalent, by a nationally recognized statistical
rating agency. City may not purchase more
2022-10-19 Item #08D Page 78 of 88
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
than 5% of outstanding commercial paper of any single corporate issuer. The
maximum allowable maturity is 270 days or less.
Per California Code Section 53601(h) beginning January 1, 2021, until January 1,
2026, portfolio limitation maximums are 40% and revert back to 25% after January
1, 2026. The 10% single issue limitation for commercial paper and medium — term
notes will remain in effect.
(11) Commercial Medium -Term Notes 30% 15%
Per Issuer 10% 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 §) and AA- or better (S & P).
(12) Guaranteed Investment Contracts None 10%
Per Issuer 5%
Guaranteed Investment Contracts (GIC �) 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 � are permitted only with issuers
rated Aaa (Moody §) and/or AAA (Standard & Poors) Collateralized GIC � are
permitted with issuers rated Aa2 or better (Moody §) 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 bash "on the
monthly investment reports. When available, the City Treasurer shall execute a
'§weep 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
2022-10-19 Item #081) Page 79 of 88
INVESTMENT ALLOCATIONS
STATE LAW INV POLICY
MAXIMUM MAXIMUM
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.
(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.
2022-10-19 Item #081) Page 80 of 88
SUMMARY TABLE of INVESTMENT ALLOCATIONS
STATE LAW
INV POLICY
(1)
REPURCHASE AGREEMENTS
NO LIMIT
20%
(2)
CALIFORNIA LAIF
NO LIMIT
30%
(3)
OTHER GOV T 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 §
NO LIMIT
30%
Per Issuer
5%
(6)
NEGOTIABLE CD §
30%
30%
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
40%
25%
Per Issuer
10%
5%
(11)
COMMERCIAL MTN NOTES
30%
15%
Per Issuer
10%
5%
(12)
GIC§
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 § with maturities of greater than five
(5) years, but not exceeding seven (7) years.
(2) The City § 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,
2022-10-19 Item #08D Page 81 of 88
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. Furthermore, Encinitas '
City Council directs the City Treasurer to annually, if not more often, petition the managers of the
pooled funds the City is invested in to divest from fossil fuel companies. The City recognizes that, due
to the extreme complexity of today � 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 § 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.
California SB 998 added Government Code Section 53601.6(b)2), which allows a local agency to
invest in securities issued by, or backed by, the United States government that could result in zero -
or negative -interest accrual if held to maturity, in the event of, and for the duration of a period of
negative market interest rates. This is applicable from January 1, 2021 until January 1, 2026.
IX. Due Diligence Requirements for Investment Pools, Mutual Funds, and CD &
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 § from each institution, which are insured by FDIC.
In orderto 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
2022-10-19 Item #081) Page 82 of 88
(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
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 V///. above
for a listing of authorized investments and the maximum allocation by type of investment. Section
Vlll. also details specific limitations per issuer. For purposes of this Policy, those limits each apply to
the overall portfolio.
XIII. 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 Califomia Gov t Code requirements
limiting investments in notes to five (5) years, subject to the exceptions cited in Section Vlll. 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 § 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 § response to the audit findings.
2022-10-19 Item #081) Page 83 of 88
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 § 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 § 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 u year constant maturity Treasury index
Any change to the above performance benchmark shall be reported to the City Council during the
City Treasurer§ 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 � website for public review. The City shall
publicly report on the results of the annual petitions to the managers of the pooled funds the City is
invested in to define and divest from fossil fuel companies.
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 k website (www. encinitasca. gov) under Departments/Finance.
2022-10-19 Item #0813 Page 84 of 83
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 `Ginnie Mae, "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 § 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
bccepts "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
2022-10-19 Item #081) Page 85 of 88
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 R►SK. 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§ 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 § agent.
DERIVAT►VE. 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§ 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.
DIVERS►F►CATION. 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§ Office.
LOCAL GoVERNMENTINVESTMENT POOL. Investment pools that range from the State Treasurer§ 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 § or security § exposure to market risk.
MONEY MARKET. The market in which short-term debt instruments (T-bills, discount notes, commercial
paper, and banker § 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 § 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 § 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 § 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 § 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 § 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 bash 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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