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CgOpo it `P City Council Staff Report
DATE: April 18, 2018 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS OF
February 28, 2018
FROM: Geoffrey S. Kiehl, Director of Finance and Treasurer
BY: Department of Finance and Treasury
SUMMARY
Attached is the Treasurer's Investment Report as of February 28, 2018. The
report includes the face value and coupon rate (if applicable) of the investments
and the source for the market value estimate. The City's total invested cash is
$163,647,955 plus $9,801,824 bond issue capital projects, reserve, and debt
service funds. There is an additional $2,040,315 in various miscellaneous/trust
accounts. The market value of the invested cash is $165,688,270.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of February 28, 2018.
STAFF ANALYSIS:
The attached report includes the face value and coupon rate (if applicable) of the
investments and the source for the market value estimate. Also included is
information on the investments of bond issue reserve, debt service and related
funds.
The investments, in type, maturity and as a percentage of the total portfolio, are
in compliance with the existing City Council-approved investment policy.
REM NO.
City Council Staff Report
April 18, 2018— Page 2
Treasurer's Investment Report as of February 28, 2018
The weighted average maturity (WAM) of the portfolio is 555.68 days. The
maximum WAM allowed by the Investment Policy is 1095 days. The current
portfolio and expected revenue cash flow will be sufficient to meet budgeted
expenditure requirements for the next six months and the foreseeable future
thereafter.
FISCAL IMPACT:
None �/ l
Geoffrey S. Kiehl, Director of Finance and Treasurer
Attachments: Treasurer's Investment Report
02
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
February 28, 2018
On Call Deposits Adjusted Basis Category Total Percentage
Checking Account 10,574,747
CalTrust Short Term 29,105,626
LAIF State Pool 37,225,139 $ 76,905,511 46.99%
Short Term Investments
L year or less)
U.S.Government Agencies 4,498,594 4,498,594 2.75%
Medium Term Investments
(I year to 3 ears
U.S.Government Agencies 35,497,850 35,497,850 21.69%
Long Term Investments
(3 year to 5 ears)
U.S.Government Agencies 41,496,000 41.496,000 25.36%
Negotiable Certificates of Deposit
(5 years or less)
FDIC-InsuredCD's 5,250,000 5,250,000 3.21%
$ 163,647,955 100.00%
treasrep
4/11/2018
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CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
PORTFOLIO STATISTICS
February 28,2018
Portfolio Composition Portfolio Liquidity
Investment Type Market Value Aging Interval' Par Value
U.S.Government Agencies 81,492,444 Less than 1 Year 81,905,511
LAIF Slate Pool 37,225,139 1-2 Years 13,500,000
CalTrust Short Term 29,105,626 2-3 Years 29,500,000 ,
Checking Account 10,574,747 3-4 Years 30,750,000
Certificates of Deposit 5,250,000 4-5 Years 8,000,000
TOTAL $ 163,647,955 TOTAL 183,655,511
`To maturity(does not include call date)
Certificates of Deposit
3.2%
81,905,511
C
BkoR t Twt1t rwt 29,500,000 30,750,000
i
192%
___ 13 500 000
a 8,000,000
U.S.Government "
Agencies
49 8% !P 7 1 3 4
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
February 28,2018
PU V 1 Comm Mow./S&P Pmhue lvl mgycdw Dols Yield Col Basis Gregory (meowp IV) Pnw Qtr.
Rate B8CI8 pare Date I.M)�in[y w Mow Total Market Valk MA"Value
On Call De its
Checking-Buda aAmerica 10,579747 N/A N/A Demand 1 N. 10,574,747 $ 10,374,747 14,954,937
CelTrust ShonTem 29.105.626 variable N/A Demand 1 1 65% 29,105,626 8 29,105,626 29,034,W
L.1 Agency Invest Fund(LAID 37,225,139 variable NIA Demand 1 1.41% 37,225,139 $ 37,154,170 27,079,W3
76,905,511 76.905,511 76,834,543 71.06&006
Shm Term lnvesmmu
Y..less)
U.S.G.0 Aga Swariva
Fedmal Nalioml Mortgage Assmialim 2000,000 1.10 AuIAA+ 03/12/13 03/ILIB 12 1.10% 2.000.000 1.999.820 1,998,920
Fiw ng Corpomum(RCO) 3ww 980% A.I AA+ 00/06/88 o4wis 37 9.80% 498,5% 510.556
FWem[NM,.]Mm,,Aasmimim 2,"," 1 03% Am I M+ 0521/13 05/21118 R2 1 03% 2,000,000 1,997,340 1.995.940
4,50000 4.498.5% 3,997.1W 4,505.416
Medium Term lnvcstmou
(1 w3 9ma)
U.S.Ow"[Ag ySearnties
Fcdaal Fenn Credit BvJ: 500,W ]'or/. Am/AA+ 022N16 02/12/19 349 1.03% 4W.00 494.660 495,720
Federal Hmre Lom Mortgage CoWmtim 1,000000 1.10% Am/AA+ 10/25/16 05115119 441 1.10% IOOO,D00 993,580 9%.690
Federal Fran C�n Bank 1.000,000 1.30% A lm+ 06/OW16 0S/06/19 463 1.30% 1,000.M 986A50 989,140
Federal Fmm Crdit Bards l,",WO 1.12% Aaa/AA+ 06120/16 06/27/19 484 1.12% I'M+00 984.530 987,250
Federal NaWmI Mortgage Association 1"," 1,10% AUTAA+ 0612W16 06IM19 485 1,10% I,000,000 9 Alo 998,850
Federal F.Credit Bak 500.000 1,09% Aaa/AA+ 08/04/16 08/15/19 533 1.09% 500.000 491.775 492,985
Fod.1 Hmw loan Bards 300,000 1 25% Am/AA+ 09109116 0822119 540 1.25% mx)." 492,540 494,235
Federal Nazi l Mongpge Assaciaum 100Q000 1,10% Aaa/AA+ M03116 W23/19 541 1.10% 1000.000 M,830 987,090
Federal Home Lon Mmgege Co t. 500,000 1.30% Aaa/AA+ 091WI16 W23/19 541 130% 500000 493.575 4%,470
Fedeal Farm Cre&l B 1.000.000 1.12% Aea 1 AA+ 10/19/16 10/1U19 590 L12% 999.250 98123D 984,780
Federal Hone Loan Mmgage Cop rim 1,000,000 1.00% Aaa/M+ 1020/16 11/15/19 625 L(309: I."," 9R6,600 W),240
FW Naumal Mortgage Associatim 1,000,000 1,17% A IAA+ 1025116 111IN19 625 1.17% 998,750 991,19D 985.240
Fcdml Natlmal Mortgage Ass mtim 500,000 1.40% Aaa 1 AA+ 02126/16 112N19 636 1.40% 500.000 490,725 492,815
Fcdmal Hmw Lon Mmgage Corpmation 1 W," 1.20% Ana 1 AA, 11/01/16 11/29/19 639 1.20 I OO," 991,970 985,810
FWmal Naumal Mmgage Assmimlm 500,000 1.25% Aaa/M+ 0R109/16 022420 726 1.25% WON 489.570 492.5W
Federal N.11.1 Mmgagc Association I.0 ixxI 1.20% Aaa/M+ O8r03/16 022420 726 1.20% I,000,000 977.5% 9840R0
FWcnl Naumul Mortgage Aasaciatim 2,000000 125% Ao/AA+ W/04/16 0 920 912 1.25% 2.M.()W 1,944.700 1,959,920
FWeml Farm C(Wll Bard. 3.M,000 2.12% Aaai M+ 12/29/17 09/2W20 W3 2.12% 3,000,000 2.971.440 3.000.150
Federal Home Loon Mm...c Cmpmarim 3,000,000 1.7D% Aaa i AA+ 09/18/17 092M20 %3 L70% 3,000,000 2,941,560 2,W),910
Fcdcml Faun CrWit B.* 3.M,000 1.84% Aaa/AA+ 10/30/17 10/3020 975 1.84% 3.ODU.M 1,943,390 2,972,970
Federal Home Loan Bank 1,000.000 1.00% Arai M+ 1020/16 HAWN 992 L0 . I.W.000 982.820 989180
Federal NarimW Mmgagc Associvl 500,000 1.50% Asa/M+ OM4116 IIr2420 1,000 L50-1. 5w,O 487.665 492,320
FWmml Naum Mmgagc Ms Wim 1.000,0p0 1.13% Ma/M+ OW93/16 112420 I.W 1.13% I,000" 96ILWO 977,610
Federal ll MLora BwM 3,"" 2.00% Au/AA, 12/14/17 1211420 1,020 2.00% 3,011o,()W 2,%3.130 2,9%,160
FWeml Natimml Mortgage Assacution 3,000,000 2.13% Au/M+ 012WI8 U12621 1063 2.15% 3,W,000 2,971,920 0
Fedm i Fam Credit Bmk 3.M," 2.40% Aas/M+ 02WIS 02/0821 1.076 2.40 3,000,M 2,M IW D
35,5N," 35S97,R50 34,961,790 29,193,175
Long Term Inreslmmu
3 w5
U.S.Go l Agency Secm tm
Fe Nw..I M.11 Am...,.. L000,000 1.75% AnIAA+ 08/IW17 02/1621 1,084 175% 1,000.000 976,740 997.550
Fodml Farm Credit Bank 500.000 1.58% A 1/ + 05/17/16 02/1721 L085 1.58Y. 3wm 485,140 490,780
FWeW Flue Lora Mmgage C.ry uun 50Q000 1.25% A®IAA+ 022W16 02/26121 1,094 1.25-/. 5W,0 499,915 4%.475
FWmal Home loan Mmgnge Corporation 2,000,000 2.50% A" AA- 0226/lg om2 l 1W4 2.50% 2,",OW 1.998.160 0
Fedml Nmioml Mmgagc Association MOW 1.375% A lm+ 022W16 0226r21 1,094 1.373% 500,000 4W,880 492,660
Fcd-W NMlool Mortgage Associauon 500,000 ISOV. Am/M+ 03A0/16 032021 1,126 1.50-1. 3wwII 485290 490,425
FWrtel H.lmn Bank 1.000,000 1.00% AY/AA+ 04/29/16 041=1 1,155 1O . 998,5m 9 .w 992060
Federal Hamc loan Mmgagc Corpomuen MOW 1.25% Au/AA+ 05MI16 052521 1,182 1.25% 50Q000 488.875 493,W3
Federal Home Loan Mmgage Corporation 1.000,000 1.50% A./AA+ 0525/16 050521 1,182 1.50% 1.0110,000 9710m 980,270 i
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TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
February 28,2018
Par Value Coupon ModYs/SAP Purchase Maturity/Celled Days Yield Cat Bean Category (memo only) Prior Qn.
Rate Raters Q= Date to Maturity to Ms. Total Market Value Market Vduc
I<mg Term Invesm,uds 4Cmtimd)
(7 ears to 5 veers)
US_Croft Agemy Socunties(Cmtinud)
Federal Home lawn Bad, 500,000 1,25% Au/AA, 0525116 052521 1,192 L25% 500,000 487,680 493,270
Foderal Home loan Bank 500,000 1,125% Am/AA+ 0527115 052721 I'm 1.123% 499,0W 4%,745 4W,695
Federal Homo ton Mmgage Coryontim I,O00,000 1.25% Am/AA+ 06/09/16 06/09/21 1,197 125% I,OOQ000 933,510 991,830
Fedora)Home tom Bad, I.W0,000 L25% Am/AA+ 06/16/16 06/16/21 1,204 1.25% 998,500 977,4W 9m',
Federal Natimal MmgaW Association 1,000,000 1.125% Am/AA+ 0727116 072721 1,245 1,125% I,ODQ000 979,570 995,290
Floral Farm Credit Bard 1,000,0(10 1.90% An/AA+ O8!(W17 0910221 1.231 1.90% I,000,000 W2,670 995,720
Federal Home loci Mortgage Coryormim 1.000,000 1.25% Am/AA+ 07/19/16 0811621 1,265 1.25% 1,00Q000 976,020 985,160
Federal Hone I.Mortgage Corporator I,000,000 1 5w. Am/AA+ 0=8116 082421 1.273 1.50% I,OOD,000 989,080 994,760
Federal Natimal Mmgage Association 1,000,000 1.00 AmlAA+ 08/03/16 082421 1,273 1.00% 1,000,000 981.220 989,490
Federal Hann loan Mortgage Coporation 2,000,1100 1.5M. Am/AA+ 07/12/16 082521 1,274 1.50% 2,000,0W 1,935,740 1,962,060
Federal Natimal Mortgage Association 1.000,000 140. AmlAA+ O&W/16 0W5121 1,274 L40% 1,000,00D 961,560 972,600
Federal Home Lee.Mortgage Corporation I,OW,OIXI 1501% Am/AA+ 09/12/16 09/3021 1.310 1.50% I,000,OOD 970,070 982,160
Federal Homc Lou.Bock 1,000,000 130% Am l AA+ 09112/16 101 l221 1,322 150. 1,000,000 965,770 977,180
Federal Homc Iran Mortgage Cotpamtion 1,000." 1 40a. Am/AA+ 0929116 10/2721 1.337 1.40% 1,000,000 960,820 971,970
Fdaral Home loan Mongmc Caporuioa 11000,000 1,13% Am/AA+ 10/12/16 10/2821 1,339 113% 1,000,000 976,370 983,840
Federal Home loan Mortgage Caperatim 1,01 ," 1.05% Am/AA+ 10/12/16 102821 1,339 1.05% IDOO,WO 965,840 974,690
Federal Hare Loran Bart 1.000.000 1,25% Am/AA+ 1O24116 1I/082I 1,349 1 23% 1,000,000 971,400 981,550
Fdaral Herne Loan Mortgage Corporation 1,OOQ0110 1,55% AmIAA+ 10/11/16 11/10/21 1,351 1.55% 1,000,000 964,230 975,850
Federal Home Loan Bank 1,000,000 1,25% Am/AA+ 10/13/16 11/1021 1,351 1.25% 1,000,000 975,910 985,680
Federal Hama Loan Bad. 1,W,000 1.05% Am/AA+ 1025/16 1111521 1356 1.05% 1,000,gq 984,620 996,690
Federal H.Los,Bank 1.000,000 1,25% Am/AA+ 10/18/16 11/1721 135g 1.25% 1.000,000 973,250 982,970
Federal Home Loan Bad, 1,000,000 1.00% Am/AA+ 1026/16 1I/1721 1358 1.00% I,WO,WO 994,720 994,120
Fdersl Homc Lmn Mortgage Corpaati o 1,000.000 1.30% Am/AA+ 10/24/16 112221 063 1,30% 1,000'" 973,390 983,310
Federal Home Loan Bad: 1,000,000 130% Am/AA+ 1026/16 112321 1364 1.30 1,000,000 973,930 993.990
Fdernl Home Loan Bed: 1,000,000 1.55% Am/AA+ I1102/16 1126/21 1367 1,55% 1,000,000 972,620 985,060
Federal Home Loat Mortgage Corporation 1,000,000 1.50a. Am/AA+ 10/17/16 1120/21 1371 130% 1,OOo,0110 962,930 974,590
Federal Hams Loan Bad; 1.000.000 1.70% Asa/AA+ I1117/16 12/0821 1.379 1,70% 1,000,000 978,670 989,590
Federal National Mortgage Asseciaime 1,000,000 21M Am/AA+ 0923/17 082322 1.637 2.20% l'"'" 965,430 982,570
Federal Fenn Credit Bad: 3,000,000 2.000/6 Am/AA+ MIV17 0911222 1.657 2.00% 3,000,000 2,918,040 2,%1,870
Federal Hone Loan Mortgage Ccw mrati,n 3,000,000 200% Am/AA+ 0929/17 092822 1,673 2.00'. 3,g10W 2,901,480 2,954,460
41,500,OW 41,4%,1100 40,451,115 38,192,360
NegaiableC I1,eptes of Deposit
(5 Seers mess)
All,Buds CD 250,000 1.70% FDIC O9/03/17 08/05/19 523 1.M!4. 250,000 248,480 249,203
Morgaa Stasdq Bade,NA CD 250,01)(1 1.80% FDIC 11106/17 11/18/19 628 1.80% 250,000 248,070 249,160
Mmgm Stanley PVT Bank CD 250,000 1.75% FDIC 11106/17 11/18/19 628 1 75`. 250,000 247,860 249.929
Wells Fargo Bank NA CD 250,000 L75% FDIC 111M/17 11/22/19 632 1.75% 250,000 247,823 248,905
Dlsmvar Bock CD 250,OD0 1.90% FDIC O8/03/17 03/03/20 887 1.91Ma 250,000 246,913 248,643
BMW Bank NA CD 250,000 1.90 FDIC 09M/17 (09/08/20 923 1,90%. 250,000 246,750 248,485
TIAA FSB CD 250,000 1.90% FDIC 09/19/17 0911420 W9 1 w. 250,000 246,705 249.453
Key Bank NA CD 250,000 1.85% FDIC 0927/17 0925120 940 1.95% M000 246,338 248,068
Firs)Bad,of Highlad CD 250,000 1.90% FDIC 1023/17 11/02/20 W9 1.9D% 250,000 246,465 249.225
Barclays Bank CD 250,UO0 2 W 1, FDIC 11/03/17 11/09/20 935 2.OD% 250,000 247,079 249,983
lnvestrvs Bank CD 250,000 2.IOYa FDIC 1227117 121=0 I D34 2,10% 250,000 247.529 249,M
Camar Federal Savings Bah CD 250,000 2.15% FDIC 1229/17 1212920 1,035 2.15% 250,000 247,863 249,749
Cilism Natimd Bad,CD 250,000 2.15% FDIC 01/17/18 0111921 1,056 2,15% 250,000 247,789 0
Marlin Beat..Bade CD 250,000 22. FDIC 01/18/18 0111921 1,056 2,20% 250,000 248,133 0
Cap.10ro Bmk,NA CD 250,000 2.05% FDIC O8/02117 OR/Owl 1,251 2,05% 250,000 246.075 248,405
American Etpress FSB CD 250,000 2.20% FDIC 09/12/17 09/1321 1.293 2,20% 250,000 245,410 247.659
Third Federal Savings R Lora CD 250,000 2.00% FDIC 09/15/17 0IMI 1,295 2.OD% 250,000 245.413 247,823
Goldmm Sachs Bad,CD 230,000 2.30% FDIC OW2117 08/0222 1,616 2.30a. 250,000 246,133 249,769
American Bepresa Cernim CD 250,000 2.35% FDIC 0822/17 09a2/22 1,636 2.33% 250,000 245,189 248.190
Capital 0.Bart USA,NA CD 250,OU0 235% FDIC 0823/17 082322 1,637 2.35% 250,000 246,533 249,145
Sallie Mae CD 250,000 2.35% FDIC 08/16/17 Og 322 1,637 2 35% 250,000 246,533 249,145
Q 5,150,000 5,250,000 5,185,093 4,723.220
Q�
Taal Invested Cash S 163655511 5163,647,953 S 161429,70O $ 149,394,177
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TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
February 28, 2018
Yield Adjusted
Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total
Total Invested Cash $ 163,655,511 $ 163,647,955
$ 163,647,955
Miscellaneous Accounts
Petty Cash 3,950 N/A N/A open None 3,950
Trust&Agency-Bank of America 1,521.360 N/A N/A open None 1,521,360
Downpayment Assistance(Housing Fund)- Rank of America 34,057 0.002 N/A open 0.20% 34,057
Workers Compensation-Bank of America 127,100 N/A N/A open None 127,100
General Liability-Bank of America 24,728 N/A N/A open None 24,728
1930's General Store Museum-Bank of America 16,141 N/A N/A open None 16,141
On-Line Credit Card Fire Inspection Fees-Bank of America 306,922 N/A N/A open None 306,922
On-Line Credit Card Transportation Permits-Bank of America 6,057 N/A N/A open None 6,057 2,040,315
Total Cash Deposited $ 165,688,270
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE& RELATED FUNDS
February 28, 2018
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Rating Maturity to Maturity Cost Basis Total Market Value Source Market Value
1998 Airport PFC
Invesco Govemment&Agency Private 668,066 variable AAA open 0.01% 668,066 668,066 US Bank 1,079,401
668,066
2006 Airport PFC
Invesco Govemment&Agency Private 1,537,340 variable AAA open 0.01% 1,537,340 1,537,340 US Bank 1,461,402
1,537,340
2007 Refunding Lease Revenue Bonds
First American Goverrment Obligation 0 variable AAA open Q01% 0 0 US Bank 0
0
2007A&B Tax Allocation Bonds
First American Government Obligation 56,811 variable AAA open 0.01% 56,811 56,811 US Bank 26
56,911
2007C Tax Allocation Bonds
First American Government Obligation 46 variable AAA open 0.01% 46 46 US Bank 46
46
2008 Airport PFC Refunding
Invesco Government&Agency Private 583,052 variable AAA open 0.01% 583,052 583,052 US Bank 581,054
583,052
2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government&Agency Private 3,208,584 variable AAA open 0.01% 3,208,584 3,208.584 US Bank 4,067,887
3,208,584
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TREASURER'S MONTHLY REPORT
BOND ISSUE RESERVE, DEBT SERVICE & RELATED FUNDS
February 28, 2018
Par Coupon Yield Adjusted Category (memo only) Prior Qtr.
Value Rate Rating Maturiry to Maturiri Cost Basis Total Market Value Source Market Value
2012/2014 Convention Center
First American Government Obligation 1,288 variable AAA open 0.01% 1,288 1,288 US Bank 3,381,178
1,288
2014 Merged Project I&2/Housing Refunding
First American Government Obligation 301,210 variable AAA open 0.01% 301,210 301,210 US Bank 609
301,210
2015 Reassesment District No.2015-1
First American Government Obligation 354,532 variable AAA open 0.01% 354,532 354,532 US Bank 273,357
354,532
2015 Local Measure A Sales Tax
First American Government Obligation 1,118,515 variable AAA open 0.01% 1,118,515 1,118,515 US Bank 1,198,937
1,118,515
2015 Refunding Lease Revenue Bonds
First American Government Obligation 161 variable AAA open 0.01% 161 161 US Bank 425,925
2017A&B Tax Allocation Bonds
First American Government Obligation 188,481 variable AAA open 0.01% 188,481 188,481 US Bank
161
2017 Refunding Lease Revenue Bonds
First American Government Obligation 50 variable AAA open 0.01% 50 50 US Bank 134,340
50
Chevron/CoGen Lease Proceeds
Cash 715,377 N/A N/A demand None 715,377 715,377 Deutsche Bank 715,377
715,377
Funds With Century Golf 1,256,791 N/A N/A demand None 1,256,791 1,256,791 Century Golf 389,312
1,256,791
Totals 9,801,824 9,990,306 $ 13,709,853
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TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
February 28, 2018
By Maturity: Minimum Maximum February 28, 2018
1 day to 365 days N/A N/A 49.74%
1 year to 3 years N/A 50.00% 22.46%
3 years to 5 years N/A 30.00% 26.43%
By Type of Investment:
Bankers Acceptance - in total N/A 20.00% 0.00%
Bankers Acceptance - by issuer N/A 5.00% 0.00%
Commercial Paper N/A 15.00% 0.00%
Time Deposits N/A 10.00% 0.00%
Negotiable Certificates of Deposit - in total N/A 30.00% 12.65%
Negotiable Certificates of Deposit - by issuer N/A 5.00% 0.00%
Corporate Notes - in total N/A 20.00% 0.00%
Corporate Notes - by issuer N/A 5.00% 0.00%
CA State or City Bonds/Local Agency Bonds - in total N/A 15.00% 0.00%
CA State or City Bonds/Local Agency Bonds -by issuer N/A 5.00% 0.00%
Money Market Funds N/A 10.00% 0.00%
Money Market Mutual Funds - Less than 1 Year N/A 50.00% 17.79%
Money Market Mutual Funds - More than 1 Year N/A 25.00% 0.00%
LAIF N/A 100.00% 22.75%
U.S. Government Agencies N/A 60.00% 49.80%
U.S. Treasury Notes/Bonds N/A 100.00% 0.00%
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