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12. JUNE 30, 2017CITY OF EASTVALE CITY COUNCIL STAFF REPORT Return to Agenda ITEM 6.8 DATE: SEPTEMBER 27, 2017 TO: HONORABLE MAYOR AND COUNCIL MEMBERS FROM: JAMES R. RILEY, INTERIM FINANCE DIRECTOR SUBJECT: TREASURER’S REPORT – QUARTER ENDED JUNE 30, 2017 RECOMMENDATION: RECEIVE AND FILE THE CITY TREASURER’S REPORT BACKGROUND In accordance with the City of Eastvale’s Investment Policy, adopted June 28, 2017, the City Treasurer is required to submit a quarterly treasurer’s report to the City Council. The report shall include types of investments, credit ratings, institutions involved, dates of purchases, dates of maturity, amount of deposits or cost of the security, current market value of the securities, interest rates, investment fund balances and a statement as to whether investments are in compliance with the Investment Policy and whether there are sufficient funds to meet the City’s cash obligations for the next six months. DISCUSSION The Schedule of Investments, includes a breakdown of the City’s investments by “Active” or “Inactive” Deposits. “Active Deposits” are those accounts which receive revenues, whereas “Inactive Deposits” are available for use but are not earning revenues. Detail reports for the PFM Managed Investment Portfolio, with all supplemental information required by the City’s investment policy, are included in the report. The Dash Board Report Card, consists of two sections: I. Portfolio Diversification – This section reflects the diversification of the City of Eastvale’s portfolio by both type of instrument and length of maturity. II. Portfolio Performance Measures – This section compares budget to actuals in the area of interest earned. Also included is a cash breakdown report per the City’s fund balance reserve policy showing funds restricted, committed, designated and unassigned as of June 30, 2017 and the investment income received at June 30, 2017, broken down by fund. CITY OF EASTVALE CITY COUNCIL STAFF REPORT Return to Agenda ITEM 6.8 The City of Eastvale’s Schedule of Investments is in compliance with the City’s Investment Policy. The City has sufficient funds to meet its expenditure requirements for the next six months. Total cash and investments at June 30, 2017 is $56,656,529 (book value). Net investment income received through June 30, 2017 is $499,396, which is 556.74% of the 2016- 17 budgeted amount for interest of $89,700. The net yield on investments is 1.184%. FISCAL IMPACT Not Applicable. STRATEGIC PLAN IMPACT Goal 1: Establish a solid fiscal foundation for the City ATTACHMENTS 1. Schedule of Investments – June 30, 2017 2. Dash Board Report Card – June 30, 2017 3. Cash Breakdown per the Fund Balance Reserve Policy – June 30, 2017 4. PFM Managed Investment Portfolio – June 30, 2017 Prepared by: James R. Riley, Interim Finance Director Reviewed by: Michele Nissen, City Manager Reviewed by: John Cavanaugh, City Attorney Book Value (Fair Value) Par Price @ Market Institution Value Cost Value Yield ACTIVE DEPOSITS Money Market Accounts: Citizens Business Bank - Money Market 1,179,361.70$ 1,179,361.70$ 1,179,361.70$ 0.350% First American Govt Oblig Fund CI Y 27,067.46 27,067.46 27,067.46 0.490% Total Money Market 1,206,429.16$ 1,206,429.16$ 1,206,429.16$ 0.353% Pooled Investment Accounts: Local Agency Investment Fund 12,905,371.31$ 12,905,371.31$ 12,891,700.28$ 0.978% Total Pooled Investment 12,905,371.31$ 12,905,371.31$ 12,891,700.28$ 0.978% PFM Managed Investment Portfolio: U.S. Treasury Bond/ Note 9,545,000.00$ 9,685,303.91$ 9,610,199.97$ 1.540% Asset-Back Security/ Collateralized 145,000.00$ 144,980.48$ 143,797.72$ 1.300% Certificate of Deposit-FDIC Insured 993,000.00$ 993,000.00$ 993,609.58$ 1.330% Certificate of Deposit 3,645,000.00$ 3,644,563.20$ 3,650,607.19$ 1.920% Federal Agency Bond/ Note 14,435,000.00$ 14,447,997.40$ 14,342,213.50$ 1.180% Corporate Note 5,930,000.00$ 6,075,511.60$ 6,015,027.23$ 1.950% Total PFM Managed Investments 34,693,000.00$ 34,991,356.59$ 34,755,455.19$ 1.080% ACTIVE DEPOSITS TOTAL 48,804,800.47$ 49,103,157.06$ 48,853,584.63$ 1.331% INACTIVE DEPOSITS Checking Account: Citizens Business Bank - Checking 7,553,371.62$ 7,553,371.62$ 0.000% Total 7,553,371.62$ 7,553,371.62$ 0.000% INACTIVE DEPOSITS TOTAL 7,553,371.62$ 7,553,371.62$ GRAND TOTAL CASH 56,656,528.68$ 56,406,956.25$ James R. Riley Interim Finance Director 9/6/2017 City of Eastvale Schedule of Investments As of June 30, 2017 Per Government Code requirements, the Investment Report is in compliance with the City of Eastvale's Investment Policy, and there are adequate funds available to meet budgeted and actual expenditures for the next six months. Attachment 1 I. PORTFOLIO DIVERSIFICATION DIVERSIFICATION BY INSTRUMENT Money Market 2.46% LAIF 26.28% Certificates of Deposit-FDIC Insured 2.02% Certificates of Deposit 7.42% U.S. Treasury Bond/ Note 19.72% Asset-Backed Security/ Collateralized 0.30% Federal Agency Bond/ Note 29.42% Corporate Note 12.37% 100.00% DIVERSIFICATION BY MATURITY Less Than 90 Days 29.24% Six Months (26 Weeks)0.00% One Year (52 Weeks)1.01% Two Years (104 Weeks)23.75% Three Years (156 Weeks)14.52% Four Years (208 Weeks)18.24% Five Years +13.23% 100.00% II. PORTFOLIO PERFORMANCE MEASURES Yield at Cost -June 30, 2017 1.331% Annual Investment Income Budget 89,700.00$ Investment Income Received: Money Market 4,360.52$ LAIF 95,771.01 Certificate of Deposits 23,792.90 U.S. Treasury Bond/ Note 126,422.77 Federal Agency Discount Note 2,077.51 Federal Agency Bond/ Note 154,531.57 Asset-Backed Security/ Collateralized 1,371.74 Corporate Note 127,178.23 Total Investment Income Received-YTD 6/30/2017 535,506.25 Less Investment Fees Paid: Trust Fees-U.S. Bank (3,833.57) Mgmt Fee-PFM (32,277.15) Total Investment Fees Paid-YTD 6/30/2017 (36,110.72) Net Investment Income Received-YTD 6/30/2017 499,395.53$ Over/(Under) Annual Budget 409,695.53$ % of Annual Budget 556.740% Net Yield at Cost - June 30, 2017 1.184% City of Eastvale Dash Board Report Card As of June 30, 2017 Attachment 2 City of Eastvale Cash Breakdown per Fund Balance Reserve Policy June 30, 2017 Schedule of Investments - June 30, 2017 Money Market Accounts 1,206,429.16$ Pooled Investment Accounts 12,905,371.31 PFM Managed Investments 34,991,356.59 Checking Account 7,553,371.62 Grand Total Cash - June 30, 2017 56,656,528.68$ Breakdown of Total Cash at June 30, 2017 Restricted Funds (Non-Discretionary Per Law)31,180,077.89$ Committed (Per Formal Action of City Council)1,387,191.98 Designated/ Assigned (Per City's Intent): Emergency Contingency 6,179,200.00 Reserve of Funds to meet City's cash obligations for the next six months General Fund Adopted Budget Expenditures-FY 2016-17 (Per Fund Balance Reserve Policy)10,819,312.50 Total Designated/ Assigned 16,998,512.50 Unassigned 7,090,746.30 Grand Total Cash - June 30, 2017 56,656,528.68 Attachment 3 City of Eastvale Investment Income Breakdown-Acct 4600 June 30, 2017 Per 3/17 Allocation Fund Name Amount % 100 General 271,421$ 54.35% 110 Fire Structural 78,605 15.74% 200 Gas Tax 58,279 11.67% 210 Measure A 37,055 7.42% 220 AQMD 1,998 0.40% 300-440 Landscape Maint.10,238 2.05% 600 Dev. Impact Fee (DIF)41,799 8.37% 499,396$ 100.00% G:\Everyone\Finance\Treasurer's Report\16-17 Treas Report\4th Quarter 6-30-17\6.17 Investment Report,9/6/2017,jrr, For the Month Ending June 30, 2017Managed Account Summary Statement CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Total Cash Basis Earnings Plus Net Realized Gains/Losses Less Purchased Interest Related to Interest/Coupons Interest/Dividends/Coupons Received Earnings Reconciliation (Cash Basis) - Managed Account Less Beginning Accrued Interest Less Beginning Amortized Value of Securities Less Cost of New Purchases Plus Coupons/Dividends Received Plus Proceeds of Maturities/Calls/Principal Payments Plus Proceeds from Sales Ending Accrued Interest Ending Amortized Value of Securities Earnings Reconciliation (Accrual Basis) $34,773,328.65 0.00 (1,688,955.93) 1,745,396.10 0.00 (74,313.63) $34,755,455.19 51,721.24 (11,769.70) (12,524.19) $27,427.35 Total 34,911,113.70 142,662.41 1,692,844.25 0.00 47,832.92 (1,757,165.80) (34,870,065.78) (133,377.71) Total Accrual Basis Earnings $33,843.99 Closing Market Value Change in Current Value Unsettled Trades Principal Acquisitions Principal Dispositions Maturities/Calls Opening Market Value Transaction Summary - Managed Account _________________ _________________ _______________________________________________ _______________________________________________Reconciling Transactions Net Cash Contribution Security Purchases Principal Payments Coupon/Interest/Dividend Income Sale Proceeds Maturities/Calls Cash Transactions Summary - Managed Account 0.00 1,692,844.25 47,832.92 0.00 (1,757,165.80) (308.14) 0.00 Cash Balance $27,067.46 Closing Cash Balance Account 20240100 Page 1 Attachment 4 For the Month Ending June 30, 2017Portfolio Summary and Statistics CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 9,545,000.00 9,610,199.97 27.65 Federal Agency Bond / Note 14,435,000.00 14,342,213.50 41.27 Corporate Note 5,930,000.00 6,015,027.23 17.31 Certificate of Deposit - FDIC Insured 993,000.00 993,609.58 2.86 Certificate of Deposit 3,645,000.00 3,650,607.19 10.50 Asset-Backed Security / Collateralized Mortgage Obligation 145,000.00 143,797.72 0.41 Managed Account Sub-Total 34,693,000.00 34,755,455.19 100.00% Accrued Interest 142,662.41 Total Portfolio 34,693,000.00 34,898,117.60 Unsettled Trades 0.00 0.00 Sector Allocation 0.41% ABS / CMO 10.50% Cert of Deposit 2.86% Cert of Deposit - FDIC 17.31% Corporate Note 41.27% Fed Agy Bond / Note 27.65% US TSY Bond / Note 0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years 0.72%1.43% 33.35% 20.41% 25.43% 18.66% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Duration to Worst Weighted Average Days to Maturity 2.63 999 1.50% 1.65% Account 20240100 Page 2 For the Month Ending June 30, 2017Managed Account Issuer Summary CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Credit Quality (S&P Ratings) 8.83% A 7.54% A+ 4.50% A- 0.72% A-2 1.18% AA 70.32% AA+ 3.17% AA- 1.60% AAA 0.71% BBB+ 1.43% NR Issuer Summary Percentof HoldingsIssuer Market Value 248,056.79 0.71 ALLY FINANCIAL INC. 1,046,536.03 3.01 AMERICAN EXPRESS CO 491,230.88 1.41 APPLE INC 854,941.05 2.46 BANK OF MONTREAL 699,587.70 2.01 BANK OF NOVA SCOTIA 134,019.90 0.39 BERKSHIRE HATHAWAY INC 562,345.84 1.62 CANADIAN IMPERIAL BANK OF COMMERCE 248,840.22 0.72 CAPTIAL ONE FINANCIAL CORP 4,994,235.23 14.37 FANNIE MAE 6,912,496.97 19.89 FEDERAL HOME LOAN BANKS 2,435,481.30 7.01 FREDDIE MAC 248,939.74 0.72 HOMEBANK 801,641.43 2.31 HSBC HOLDINGS PLC 143,797.72 0.41 HYUNDAI AUTO RECEIVABLES 504,407.00 1.45 INTERNATIONAL BUSINESS MACHINES 764,150.99 2.20 JP MORGAN CHASE & CO 411,045.09 1.18 MICROSOFT CORP 275,436.98 0.79 PFIZER INC 686,041.20 1.97 SUMITOMO MITSUI FINANCIAL GROUP INC 847,691.40 2.44 SVENSKA HANDELSBANKEN AB 786,449.85 2.26 THE BANK OF NEW YORK MELLON CORPORATION 253,879.53 0.73 TOYOTA MOTOR CORP 9,610,199.97 27.66 UNITED STATES TREASURY 794,002.38 2.28 WELLS FARGO & COMPANY $34,755,455.19 Total 100.00% Account 20240100 Page 3 For the Month Ending June 30, 2017Managed Account Detail of Securities Held CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 02/02/2015 1.250% 01/31/2020 29,816.01 30,227.36 156.42 30,317.58 06/15/1606/14/16AaaAA+ 30,000.00 912828H52 0.95 US TREASURY NOTES DTD 07/31/2015 1.625% 07/31/2020 1,456,705.26 1,480,575.92 9,862.45 1,489,044.73 06/15/1606/14/16AaaAA+ 1,455,000.00 912828XM7 1.04 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 1,011,758.00 1,030,328.13 1,693.99 1,037,695.31 08/25/1608/24/16AaaAA+ 1,000,000.00 912828A42 1.09 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 1,604,563.20 1,629,441.20 76.09 1,638,187.50 06/06/1606/03/16AaaAA+ 1,600,000.00 912828N48 1.21 US TREASURY NOTES DTD 01/31/2016 1.375% 01/31/2021 296,859.30 297,574.44 1,720.65 297,164.06 11/16/1611/15/16AaaAA+ 300,000.00 912828N89 1.61 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 442,547.10 438,057.94 1,413.93 437,167.97 03/17/1703/15/17AaaAA+ 450,000.00 912828Q37 1.99 US TREASURY NOTES DTD 04/30/2014 2.250% 04/30/2021 1,503,635.65 1,499,763.07 5,591.37 1,503,290.04 12/06/1612/05/16AaaAA+ 1,475,000.00 912828WG1 1.79 US TREASURY N/B DTD 07/31/2014 2.250% 07/31/2021 718,411.22 718,124.12 6,616.68 719,981.25 11/23/1611/22/16AaaAA+ 705,000.00 912828WY2 1.78 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1,503,095.61 1,497,379.76 9,960.33 1,498,323.05 12/06/1612/05/16AaaAA+ 1,490,000.00 912828D72 1.88 US TREASURY NOTES DTD 10/31/2014 2.000% 10/31/2021 282,242.24 281,653.50 943.48 281,739.06 04/05/1704/03/17AaaAA+ 280,000.00 912828F96 1.86 US TREASURY NOTES DTD 10/31/2014 2.000% 10/31/2021 312,482.48 310,626.55 1,044.57 310,690.23 01/05/1701/03/17AaaAA+ 310,000.00 912828F96 1.95 US TREASURY N/B NOTES DTD 03/02/2015 1.750% 02/28/2022 448,083.90 442,163.76 2,632.13 441,703.13 03/17/1703/15/17AaaAA+ 450,000.00 912828J43 2.14 41,712.09 9,610,199.97 9,655,915.75 1.54 9,685,303.91 9,545,000.00 Security Type Sub-Total Federal Agency Bond / Note FHLMC REFERENCE NOTE DTD 09/16/2016 0.875% 10/12/2018 745,428.00 749,352.58 1,440.10 748,965.00 09/22/1609/21/16AaaAA+ 750,000.00 3137EAED7 0.94 Account 20240100 Page 4 For the Month Ending June 30, 2017Managed Account Detail of Securities Held CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FHLMC REFERENCE NOTE DTD 09/16/2016 0.875% 10/12/2018 993,904.00 1,000,252.36 1,920.14 1,000,400.00 09/30/1609/30/16AaaAA+ 1,000,000.00 3137EAED7 0.86 FNMA BENCHMARK NOTE DTD 09/01/2015 1.125% 10/19/2018 1,261,065.85 1,268,822.34 2,846.25 1,271,932.20 06/06/1606/03/16AaaAA+ 1,265,000.00 3135G0E58 0.89 FEDERAL HOME LOAN BANK AGENCY DTD 03/10/2017 1.375% 03/18/2019 824,638.65 823,375.01 3,497.66 823,086.00 03/10/1703/09/17AaaAA+ 825,000.00 3130AAXX1 1.49 FEDERAL HOME LOAN BANK AGENCY NOTES DTD 05/12/2017 1.375% 05/28/2019 254,727.15 254,889.49 477.24 254,882.70 05/16/1705/15/17AaaAA+ 255,000.00 3130ABF92 1.40 FHLB GLOBAL NOTE DTD 06/03/2016 1.125% 06/21/2019 2,848,904.43 2,870,750.60 895.31 2,873,824.20 06/06/1606/03/16AaaAA+ 2,865,000.00 3130A8DB6 1.02 FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 716,284.05 723,509.55 2,625.61 722,977.25 09/30/1609/30/16AaaAA+ 725,000.00 3135G0N33 0.97 FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 1,210,026.83 1,223,352.60 4,347.05 1,222,648.00 08/04/1608/03/16AaaAA+ 1,225,000.00 3130A8Y72 0.94 FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 742,381.50 748,478.77 1,979.17 747,960.00 09/22/1609/21/16AaaAA+ 750,000.00 3130A9EP2 1.09 FREDDIE MAC GLOBAL NOTES DTD 10/02/2012 1.250% 10/02/2019 696,149.30 702,712.96 2,163.19 703,976.00 06/06/1606/03/16AaaAA+ 700,000.00 3137EADM8 1.08 FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 1,031,818.41 1,034,810.42 1,818.44 1,034,761.95 11/17/1611/16/16AaaAA+ 1,035,000.00 3130AA3R7 1.38 FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 299,213.70 299,829.45 1,537.50 299,808.00 02/28/1702/24/17AaaAA+ 300,000.00 3135G0T29 1.52 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 977,543.00 997,815.99 4,652.78 997,380.00 08/25/1608/24/16AaaAA+ 1,000,000.00 3135G0N82 1.30 FANNIE MAE AGENCY NOTES DTD 01/09/2017 2.000% 01/05/2022 867,876.13 870,521.23 8,265.56 870,527.35 06/29/1706/27/17AaaAA+ 865,000.00 3135G0S38 1.85 FANNIE MAE NOTES DTD 04/10/2017 1.875% 04/05/2022 872,252.50 874,869.07 3,691.41 874,868.75 06/29/1706/27/17AaaAA+ 875,000.00 3135G0T45 1.88 Account 20240100 Page 5 For the Month Ending June 30, 2017Managed Account Detail of Securities Held CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par 42,157.41 14,342,213.50 14,443,342.42 1.18 14,447,997.40 14,435,000.00 Security Type Sub-Total Corporate Note JP MORGAN SECURITIES DTD 04/23/2009 6.300% 04/23/2019 764,150.99 766,202.09 8,449.00 798,366.60 06/08/1606/03/16A3A- 710,000.00 46625HHL7 1.84 BERKSHIRE HATHAWAY INC CORPORATE NOTES DTD 08/15/2016 1.300% 08/15/2019 134,019.90 134,906.84 663.00 134,869.05 08/15/1608/08/16Aa2AA 135,000.00 084664CK5 1.33 TOYOTA MOTOR CORP NOTES DTD 10/18/2016 1.550% 10/18/2019 253,879.53 254,901.86 801.48 254,872.50 10/18/1610/13/16Aa3AA- 255,000.00 89236TDH5 1.57 HSBC USA INC CORPORATE NOTES DTD 11/13/2014 2.375% 11/13/2019 801,641.43 802,112.77 2,517.50 805,199.85 06/08/1606/03/16A2A 795,000.00 40428HPN6 1.99 PFIZER INC CORP NOTE DTD 11/21/2016 1.700% 12/15/2019 275,436.98 274,841.85 207.78 274,802.00 11/21/1611/14/16A1AA 275,000.00 717081EB5 1.72 MICROSOFT CORP DTD 02/06/2017 1.850% 02/06/2020 411,045.09 409,761.33 3,055.07 409,725.30 02/06/1701/30/17AaaAAA 410,000.00 594918BV5 1.87 APPLE INC BONDS DTD 02/09/2017 1.900% 02/07/2020 491,230.88 489,790.62 3,672.28 489,759.90 02/09/1702/02/17Aa1AA+ 490,000.00 037833CK4 1.92 BNY MELLON CORP NOTE (CALLABLE) DTD 08/17/2015 2.600% 08/17/2020 786,449.85 793,130.71 7,500.28 799,226.50 06/08/1606/03/16A1A 775,000.00 06406HDD8 1.82 WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 794,002.38 798,892.29 1,334.50 803,007.90 06/08/1606/03/16A2A 785,000.00 94974BGR5 2.01 AMERICAN EXPRESS CREDIT CORP NOTES DTD 05/05/2016 2.250% 05/05/2021 798,763.20 803,673.50 2,800.00 804,632.00 06/08/1606/03/16A2A- 800,000.00 0258M0EB1 2.13 IBM CORP BONDS DTD 01/27/2017 2.500% 01/27/2022 504,407.00 500,969.00 5,347.22 501,050.00 02/03/1702/01/17A1A+ 500,000.00 459200JQ5 2.45 36,348.11 6,015,027.23 6,029,182.86 1.95 6,075,511.60 5,930,000.00 Security Type Sub-Total Certificate of Deposit - FDIC Insured ALLY BANK DTD 03/26/2015 1.050% 09/26/2017 248,056.79 248,000.00 692.02 248,000.00 03/26/1503/17/15NRNR 248,000.00 02006LPR8 1.04 Account 20240100 Page 6 For the Month Ending June 30, 2017Managed Account Detail of Securities Held CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Certificate of Deposit - FDIC Insured HOMEBANC NA DTD 03/30/2015 1.200% 03/29/2018 248,939.74 249,000.00 245.59 249,000.00 03/30/1503/10/15NRNR 249,000.00 43738AFT8 1.15 AMERICAN EXPR CENTURION DTD 06/17/2015 1.550% 06/18/2018 247,772.83 248,000.00 147.44 248,000.00 06/17/1506/06/15A2BBB+ 248,000.00 02587DYT9 1.52 CAPITAL ONE NA DTD 09/23/2015 1.650% 09/24/2018 248,840.22 248,000.00 1,121.10 248,000.00 09/23/1509/16/15P-1A-2 248,000.00 14042RAA9 1.62 2,206.15 993,609.58 993,000.00 1.33 993,000.00 993,000.00 Security Type Sub-Total Certificate of Deposit CANADIAN IMPERIAL BANK NY CD DTD 12/05/2016 1.760% 11/30/2018 562,345.84 559,688.52 848.71 559,563.20 12/05/1612/01/16Aa3A+ 560,000.00 13606A5Z7 1.78 SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 847,691.40 850,000.00 7,586.25 850,000.00 01/12/1701/10/17Aa2AA- 850,000.00 86958JHB8 1.91 BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 854,941.05 850,000.00 6,303.22 850,000.00 02/09/1702/08/17Aa3A+ 850,000.00 06427KRC3 1.90 BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 699,587.70 700,000.00 3,193.94 700,000.00 04/06/1704/05/17A1A+ 700,000.00 06417GUE6 1.91 SUMITOMO MITSUI BANK NY CD DTD 05/04/2017 2.050% 05/03/2019 686,041.20 685,000.00 2,223.40 685,000.00 05/04/1705/03/17A1A 685,000.00 86563YVN0 2.05 20,155.52 3,650,607.19 3,644,688.52 1.92 3,644,563.20 3,645,000.00 Security Type Sub-Total Asset-Backed Security / Collateralized Mortgage Obligation HYUNDAI AUTO RECEIVABLES TRUST DTD 09/21/2016 1.290% 04/15/2021 143,797.72 144,984.15 83.13 144,980.48 09/21/1609/14/16AaaAAA 145,000.00 44891EAC3 1.30 83.13 143,797.72 144,984.15 1.30 144,980.48 145,000.00 Security Type Sub-Total 34,693,000.00 34,991,356.59 1.50 142,662.41 34,911,113.70 34,755,455.19 Managed Account Sub-Total Account 20240100 Page 7 For the Month Ending June 30, 2017Managed Account Detail of Securities Held CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 $34,693,000.00 $34,991,356.59 $142,662.41 $34,911,113.70 $34,755,455.19 1.50% $34,898,117.60 $142,662.41 Total Investments Accrued Interest Securities Sub-Total Account 20240100 Page 8 For the Month Ending June 30, 2017Managed Account Fair Market Value & Analytics CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L DurationNext Call MarketSecurity Type/Description YTMEffective Duration U.S. Treasury Bond / Note 2.52 (411.35)(501.57) 29,816.01 99.39 MORGANST 30,000.00 912828H52US TREASURY NOTES DTD 02/02/2015 1.250% 01/31/2020 1.49 2.52 2.98 (23,870.66)(32,339.47) 1,456,705.26 100.12 HSBC 1,455,000.00 912828XM7US TREASURY NOTES DTD 07/31/2015 1.625% 07/31/2020 1.59 2.98 3.29 (18,570.13)(25,937.31) 1,011,758.00 101.18 MORGANST 1,000,000.00 912828A42US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 1.64 3.29 3.38 (24,878.00)(33,624.30) 1,604,563.20 100.29 HSBC 1,600,000.00 912828N48US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 1.67 3.38 3.46 (715.14)(304.76) 296,859.30 98.95 HSBC 300,000.00 912828N89US TREASURY NOTES DTD 01/31/2016 1.375% 01/31/2021 1.68 3.46 3.63 4,489.16 5,379.13 442,547.10 98.34 MERRILL 450,000.00 912828Q37US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 1.71 3.63 3.65 3,872.58 345.61 1,503,635.65 101.94 BNP PARI 1,475,000.00 912828WG1US TREASURY NOTES DTD 04/30/2014 2.250% 04/30/2021 1.72 3.65 3.86 287.10 (1,570.03) 718,411.22 101.90 BNP PARI 705,000.00 912828WY2US TREASURY N/B DTD 07/31/2014 2.250% 07/31/2021 1.77 3.86 3.96 5,715.85 4,772.56 1,503,095.61 100.88 MERRILL 1,490,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1.78 3.96 4.12 588.74 503.18 282,242.24 100.80 RBC 280,000.00 912828F96US TREASURY NOTES DTD 10/31/2014 2.000% 10/31/2021 1.81 4.12 4.12 1,855.93 1,792.25 312,482.48 100.80 CITIGRP 310,000.00 912828F96US TREASURY NOTES DTD 10/31/2014 2.000% 10/31/2021 1.81 4.12 4.44 5,920.14 6,380.77 448,083.90 99.57 CITIGRP 450,000.00 912828J43US TREASURY N/B NOTES DTD 03/02/2015 1.750% 02/28/2022 1.85 4.44 (75,103.94) 1.70 3.59 (45,715.78) 9,610,199.97 9,545,000.00 Security Type Sub-Total 3.59 Federal Agency Bond / Note 1.27 (3,924.58)(3,537.00) 745,428.00 99.39 BARCLAYS 750,000.00 3137EAED7FHLMC REFERENCE NOTE DTD 09/16/2016 0.875% 10/12/2018 1.36 1.27 1.27 (6,348.36)(6,496.00) 993,904.00 99.39 JEFFERIE 1,000,000.00 3137EAED7FHLMC REFERENCE NOTE DTD 09/16/2016 0.875% 10/12/2018 1.36 1.27 1.29 (7,756.49)(10,866.35) 1,261,065.85 99.69 KEYBAN 1,265,000.00 3135G0E58FNMA BENCHMARK NOTE DTD 09/01/2015 1.125% 10/19/2018 1.37 1.29 Account 20240100 Page 9 For the Month Ending June 30, 2017Managed Account Fair Market Value & Analytics CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L DurationNext Call MarketSecurity Type/Description YTMEffective Duration Federal Agency Bond / Note 1.68 1,263.64 1,552.65 824,638.65 99.96 WELLS_FA 825,000.00 3130AAXX1FEDERAL HOME LOAN BANK AGENCY DTD 03/10/2017 1.375% 03/18/2019 1.40 1.68 1.88 (162.34)(155.55) 254,727.15 99.89 STIFEL 255,000.00 3130ABF92FEDERAL HOME LOAN BANK AGENCY NOTES DTD 05/12/2017 1.375% 05/28/2019 1.43 1.88 1.94 (21,846.17)(24,919.77) 2,848,904.43 99.44 KEYBAN 2,865,000.00 3130A8DB6FHLB GLOBAL NOTE DTD 06/03/2016 1.125% 06/21/2019 1.41 1.94 2.05 (7,225.50)(6,693.20) 716,284.05 98.80 BMO 725,000.00 3135G0N33FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 1.46 2.05 2.06 (13,325.77)(12,621.17) 1,210,026.83 98.78 WELLSFAR 1,225,000.00 3130A8Y72FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 1.47 2.06 2.20 (6,097.27)(5,578.50) 742,381.50 98.98 MORGANST 750,000.00 3130A9EP2FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 1.46 2.20 2.21 (6,563.66)(7,826.70) 696,149.30 99.45 WELLSFAR 700,000.00 3137EADM8FREDDIE MAC GLOBAL NOTES DTD 10/02/2012 1.250% 10/02/2019 1.50 2.21 2.32 (2,992.01)(2,943.54) 1,031,818.41 99.69 MERRILL 1,035,000.00 3130AA3R7FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 1.51 2.32 2.59 (615.75)(594.30) 299,213.70 99.74 JPM_CHAS 300,000.00 3135G0T29FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 1.60 2.59 3.98 (20,272.99)(19,837.00) 977,543.00 97.75 BMO 1,000,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 1.82 3.98 4.26 (2,645.10)(2,651.22) 867,876.13 100.33 MORGAN_S 865,000.00 3135G0S38FANNIE MAE AGENCY NOTES DTD 01/09/2017 2.000% 01/05/2022 1.92 4.26 4.52 (2,616.57)(2,616.25) 872,252.50 99.69 TD 875,000.00 3135G0T45FANNIE MAE NOTES DTD 04/10/2017 1.875% 04/05/2022 1.94 4.52 (105,783.90) 1.52 2.31 (101,128.92) 14,342,213.50 14,435,000.00 Security Type Sub-Total 2.31 Corporate Note 1.71 (2,051.10)(34,215.61) 764,150.99 107.63 BARCLAYS 710,000.00 46625HHL7JP MORGAN SECURITIES DTD 04/23/2009 6.300% 04/23/2019 2.00 1.71 2.08 (886.94)(849.15) 134,019.90 99.27 MERRILL 135,000.00 084664CK5BERKSHIRE HATHAWAY INC CORPORATE NOTES DTD 08/15/2016 1.300% 08/15/2019 1.65 2.08 Account 20240100 Page 10 For the Month Ending June 30, 2017Managed Account Fair Market Value & Analytics CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L DurationNext Call MarketSecurity Type/Description YTMEffective Duration Corporate Note 2.24 (1,022.33)(992.97) 253,879.53 99.56 MERRILL 255,000.00 89236TDH5TOYOTA MOTOR CORP NOTES DTD 10/18/2016 1.550% 10/18/2019 1.75 2.24 2.29 (471.34)(3,558.42) 801,641.43 100.84 WELLSFAR 795,000.00 40428HPN6HSBC USA INC CORPORATE NOTES DTD 11/13/2014 2.375% 11/13/2019 2.01 2.29 2.40 595.13 634.98 275,436.98 100.16 MERRILL 275,000.00 717081EB5PFIZER INC CORP NOTE DTD 11/21/2016 1.700% 12/15/2019 1.63 2.40 2.51 1,283.76 1,319.79 411,045.09 100.25 HSBC 410,000.00 594918BV5MICROSOFT CORP DTD 02/06/2017 1.850% 02/06/2020 1.75 2.51 2.51 1,440.26 1,470.98 491,230.88 100.25 JPM_CHAS 490,000.00 037833CK4APPLE INC BONDS DTD 02/09/2017 1.900% 02/07/2020 1.80 2.51 2.89 (6,680.86)(12,776.65) 786,449.85 101.48 07/17/20BARCLAYS 775,000.00 06406HDD8BNY MELLON CORP NOTE (CALLABLE) DTD 08/17/2015 2.600% 08/17/2020 2.11 2.94 3.27 (4,889.91)(9,005.52) 794,002.38 101.15 WELLSFAR 785,000.00 94974BGR5WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 2.20 3.27 3.65 (4,910.30)(5,868.80) 798,763.20 99.85 CSFB 800,000.00 0258M0EB1AMERICAN EXPRESS CREDIT CORP NOTES DTD 05/05/2016 2.250% 05/05/2021 2.29 3.65 4.26 3,438.00 3,357.00 504,407.00 100.88 MERRILL 500,000.00 459200JQ5IBM CORP BONDS DTD 01/27/2017 2.500% 01/27/2022 2.30 4.26 (60,484.37) 2.04 2.80 (14,155.63) 6,015,027.23 5,930,000.00 Security Type Sub-Total 2.81 Certificate of Deposit - FDIC Insured 0.24 56.79 56.79 248,056.79 100.02 NEW ACCT 248,000.00 02006LPR8ALLY BANK DTD 03/26/2015 1.050% 09/26/2017 0.96 0.24 0.74 (60.26)(60.26) 248,939.74 99.98 NEW ACCT 249,000.00 43738AFT8HOMEBANC NA DTD 03/30/2015 1.200% 03/29/2018 1.17 0.74 0.96 (227.17)(227.17) 247,772.83 99.91 NEW ACCT 248,000.00 02587DYT9AMERICAN EXPR CENTURION DTD 06/17/2015 1.550% 06/18/2018 1.59 0.96 1.23 840.22 840.22 248,840.22 100.34 NEW ACCT 248,000.00 14042RAA9CAPITAL ONE NA DTD 09/23/2015 1.650% 09/24/2018 1.32 1.23 609.58 1.26 0.79 609.58 993,609.58 993,000.00 Security Type Sub-Total 0.79 Certificate of Deposit Account 20240100 Page 11 For the Month Ending June 30, 2017Managed Account Fair Market Value & Analytics CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L DurationNext Call MarketSecurity Type/Description YTMEffective Duration Certificate of Deposit 1.40 2,657.32 2,782.64 562,345.84 100.42 GOLDMAN 560,000.00 13606A5Z7CANADIAN IMPERIAL BANK NY CD DTD 12/05/2016 1.760% 11/30/2018 1.44 1.40 1.52 (2,308.60)(2,308.60) 847,691.40 99.73 MERRILL 850,000.00 86958JHB8SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 1.48 1.52 1.60 4,941.05 4,941.05 854,941.05 100.58 GOLDMAN 850,000.00 06427KRC3BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 1.05 1.60 1.75 (412.30)(412.30) 699,587.70 99.94 MERRILL 700,000.00 06417GUE6BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 1.68 1.75 1.82 1,041.20 1,041.20 686,041.20 100.15 JPM_CHAS 685,000.00 86563YVN0SUMITOMO MITSUI BANK NY CD DTD 05/04/2017 2.050% 05/03/2019 1.93 1.82 6,043.99 1.50 1.62 5,918.67 3,650,607.19 3,645,000.00 Security Type Sub-Total 1.62 Asset-Backed Security / Collateralized Mortgage Obligation 3.20 (1,186.43)(1,182.76) 143,797.72 99.17 JPMCHASE 145,000.00 44891EAC3HYUNDAI AUTO RECEIVABLES TRUST DTD 09/21/2016 1.290% 04/15/2021 1.55 1.84 (1,182.76) 1.55 3.20 (1,186.43) 143,797.72 145,000.00 Security Type Sub-Total 1.84 34,693,000.00 34,755,455.19 (235,901.40) (155,658.51) 2.63 1.65 Managed Account Sub-Total 2.63 Total Investments $34,898,117.60 $142,662.41 $34,755,455.19 Accrued Interest Securities Sub-Total $34,693,000.00 ($235,901.40) ($155,658.51) 2.63 1.65% 2.63 Account 20240100 Page 12 For the Month Ending June 30, 2017Managed Account Security Transactions & Interest CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method BUY 06/29/17 FANNIE MAE NOTES DTD 04/10/2017 1.875% 04/05/2022 3135G0T45 (874,868.75)(3,600.26)(878,469.01) 875,000.00 06/27/17 06/29/17 FANNIE MAE AGENCY NOTES DTD 01/09/2017 2.000% 01/05/2022 3135G0S38 (870,527.35)(8,169.44)(878,696.79) 865,000.00 06/27/17 (11,769.70) (1,757,165.80)(1,745,396.10) 1,740,000.00 Transaction Type Sub-Total INTEREST 06/01/17 MONEY MARKET FUND MONEY0002 0.00 19.78 19.78 0.00 06/01/17 06/01/17 HOMEBANC NA DTD 03/30/2015 1.200% 03/29/2018 43738AFT8 0.00 253.78 253.78 249,000.00 06/01/17 06/05/17 CANADIAN IMPERIAL BANK NY CD DTD 12/05/2016 1.760% 11/30/2018 13606A5Z7 0.00 350.70 350.70 0.00 06/05/17 06/07/17 WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 94974BGR5 0.00 10,008.75 10,008.75 785,000.00 06/07/17 06/15/17 PFIZER INC CORP NOTE DTD 11/21/2016 1.700% 12/15/2019 717081EB5 0.00 2,649.17 2,649.17 275,000.00 06/15/17 06/15/17 HYUNDAI AUTO RECEIVABLES TRUST DTD 09/21/2016 1.290% 04/15/2021 44891EAC3 0.00 155.88 155.88 145,000.00 06/15/17 06/17/17 AMERICAN EXPR CENTURION DTD 06/17/2015 1.550% 06/18/2018 02587DYT9 0.00 1,916.73 1,916.73 248,000.00 06/17/17 06/21/17 FHLB GLOBAL NOTE DTD 06/03/2016 1.125% 06/21/2019 3130A8DB6 0.00 16,115.63 16,115.63 2,865,000.00 06/21/17 06/29/17 FEDERAL HOME LOAN BANKS AGCY DTD 05/27/2016 0.875% 06/29/2018 3130A8BD4 0.00 2,362.50 2,362.50 540,000.00 06/29/17 06/30/17 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 912828N48 0.00 14,000.00 14,000.00 1,600,000.00 06/30/17 47,832.92 47,832.92 0.00 6,707,000.00 Transaction Type Sub-Total SELL 06/29/17 US TREASURY NOTES DTD 09/30/2011 1.375% 09/30/2018 912828RH5 1,151,078.13 3,888.32 1,154,966.45 (10,466.79)(6,366.06)FIFO 1,150,000.00 06/27/17 06/29/17 FEDERAL HOME LOAN BANKS AGCY DTD 05/27/2016 0.875% 06/29/2018 3130A8BD4 537,877.80 0.00 537,877.80 (2,057.40)(2,090.41)FIFO 540,000.00 06/27/17 Account 20240100 Page 13 For the Month Ending June 30, 2017Managed Account Security Transactions & Interest CITY OF EASTVALE - INVESTMENT PORTFOLIO - 20240100 Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method 3,888.32 (8,456.47)(12,524.19) 1,692,844.25 1,688,955.93 1,690,000.00 Transaction Type Sub-Total (56,440.17) 39,951.54 (16,488.63) (12,524.19) (8,456.47)Managed Account Sub-Total Total Security Transactions ($12,524.19)($16,488.63)$39,951.54 ($56,440.17)($8,456.47) Account 20240100 Page 14