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Home My WebLink About03.04 Treasurer Report July-September 2018J G°°c AGENDA ITEM Date: November 13 20189yQA''!or7 4°.•:,1 C'p;1;Y CP Reviewed/Verified TO: Honorable Mayor and City Manage Members of the City Council Administrati e Services Director To Be Presented By: THRU: Rick Otto City Manager X Cons Calendar _ City Mgr Rpts Council Reports Legal Affairs FROM•Richard A. Ro . Boards/Cmtes _ Public Hrgs City Treasurer Admin Reports Plan/Environ William M. Kolbow,„/ Administrative Services Director 1. SUBJECT Monthly Treasurer's Reports for July, August, and September 2018. 2. SUMMARY Presentation of three monthly Treasurer's Reports to the City Council after the end of the quarter covered by the reports. 3. RECOMMENDED ACTION Receive and file. 4. FISCAL IMPACT No fiscal impact as a result of this action. 5. STRATEGIC PLAN GOAL(S) 2d. Be a Fiscally Healthy Community—Effectively manage and develop City assets. G. GENERAL PLAN IMPLEMENTATION N/A 7. DISCUSSION and BACKGROUND The City's current Statement of Investment Policy has been adopted by the City Council of the City of Orange as Resolution 11080 and is in accordance with the California Government Code ITEM 3 •` 11/13/18 1%Printed on Recycled Paper Sections 53600 ET Seq. Per the Investment Policy, three monthly investment reports are to be submitted to the City Council within 45 days following the end of the quarter. As required by the City's present Investment Policy, the City Treasurer's report delineates all investments made by the City Treasurer for the City, its special funds, and the Successor Agency funds, by investment type and by broker. The monthly Compliance Report certifying compliance of all investments with both the Government Code and the City's Investment Policy is included. The Investment Portfolio Statement accurately reflects all investments held by the City and its agents as of the end of the month. This investment data is also presented in other summary and graphic form. A reconciliation between total cash and investments and total cash per the General Ledger is also included. All of the three monthly Treasurer's Reports have been reviewed by the Investment Advisory Committee (IAC). SUMMARY OF CHANGES IN TREASURER'S CASH AND INVESTMENTS Treasurer's Operating Cash & Investments l Balance @ 6/30/2018 149,722,612 Monthly Activity: Cash Received 34,522,565 Cash Disbursed 71,106,825) Balance @ 9/30/2018 113,138,352 I Includes operating cash and invest nents(valcced at cost). Does not include deposits with administrators, imprest cash,fiscal agent cash and investrrcents, and deferred compensation. For the month of July 2018 The July cash disbursements exceeded cash receipts by $30,848,141. During the month, large disbursements included payments totaling$14,890,062 to PERS for annual lump sum prepayment of unfunded liability, $5,182,495 to U.S. Bank for debt service, $4,453,649 to Orange County Water District for pumping assessments, $2,345,089 to Morillo Construction for Shaffer Park renovation, $1,634,104 to PERS for employee benefits, $1,550,848 to CIPA(California lnsurance Pool Authority) for insurance, $753,578 to Municipal Water District of Orange County for annual water connection charge and purchased water, and $402,219 to R.J. Noble for annual pavement maintenance. In July, the City received$3,604,029 in sales tax revenue and$269,557 in property tax revenue. In the month of July, no investments were purchased,matured or were called. The City's balance in L.A.I.F. on July 31 was $21,000,000 or a decrease of$30,700,000 due to cash disbursements exceeding cash receipts during the month. ITEM 11/13/18 N?Printed on Recycled Paper For the month of August 2018 The August cash receipts exceeded cash disbursements by $22,022. During the month, large disbursements included payments totaling$1,643,347 to PERS for employee benefits, $1,181,180 to Orange County Transportation Authority for the Metrolink Parking Structure, and$367,455 to Municipal Water District of Orange County for purchased water. In August, the City received 3,155,301 in sales tax revenue. In the month of August, no investments were purchased, matured or were called. The City's balance in L.A.I.F. on August 31 was $21,300,000 or an increase of $300,000 related to cash receipts exceeding cash disbursements during the month. For the month of September 2018 The September cash disbursements exceeded cash receipts by $5,758,141. Large disbursements included payments totaling $2,534,974 to U.S. Bank for debt service, $1,644,343 to PERS for employee benefits, $976,325 to R.J. Noble for street maintenance and rehabilitation, $666,281 to Morillo Construction for Shaffer Park renovation, $631,927 to Municipal Water District of Orange County for purchased water, $405,630 to Ticor Title Company for purchase of right-of-way, and 375,512 Big Ben Engineering for annual pipeline renewal. The City received$3,798,901 in sales tax revenue and $487,639 in property tax revenue. In the month of September, no investments were purchased, matured or were called. The City's balance in L.A.I.F. on September 30 was $16,100,000 or a decrease of $5,200,000 due to cash disbursements exceeding cash receipts during the month. CREDIT RATING ON INVESTMENTS During this period, there was no change to the credit rating on the investments in the investment portfolio. INVESTMENT ADVISORY COMMITTEE (IAC) The most recent IAC meeting was November 7, 2018 while the next quarterly Committee meeting is to be scheduled for February 2019. 8. ATTACHMENTS Attachment A - Investment Report for July 2018 Attachment B - Investment Report for August 2018 Attachment C - Investment Report for September 2018 ITEM 11/13/18 h?Printed on Recycled Paper Attachment A Investment Report for July 2018 MONTHLY SUMMARY COMPLIANCE CERTIFICATE July 2018 Note: All concentration restrictions were obtained from Sections 53601 and 53635 of the Government Code or the City's Investment Policy as of June 12,2018,whichever was the more stringent. 1. U.S. A encies A) Total amount(book value) of U.S. Agency securities owned by the City =$71,994,291. B) Total amount allowed(75% of portfolio book value) of all City investments=$88,398,995. Is (A) less than(B) at time of purchase? Yes X No 2. Monev Market Mutual Funds A) Total amount(book value) invested in money market mutual funds by the City=$2,871,759. B) Total amount allowed ($15 million or 20%of portfolio book value, whichever is less) of all City investments=$15,000,000. Is (A) less than (B)? Yes X No 3. LAIF A)Total amount(book value) invested in LAIF by the City=$21,000,000. B) Total amount allowed(35% of portfolio book value) of all City investments= $41,252,864. Is (A) less than (B)? Yes X No 4. Commercial Paper A) Total amount(book value) invested in commercial paper by the City=$0. B)Total amount allowed(20% of portfolio book value) of all City investments=$23,573,065. Is (A) less than (B)? Yes X No 5. Medium-Term Notes A)Total amount(book value) invested in medium-term notes by the City=$21,999,277. C) Total amount allowed(20% of portfolio book value) of all City investments=$23,573,065. Is (A) less than(B)? Yes X No 6. Excluded Investment Vehicles A) Are any securities excluded by the Statement of Investmenti Policy currently included in the City's portfolio? Yes No X 7. Investment Mana ement A reements . A) Does the City have any investment manager or advisor agreements? Yes No X (if no, skip to number 8) B) If so, was the agreement approved in advance by the City Council? Yes No C) Has the City examined the methods and past performance of the investment manager? Yes No D) Pursuant to the agreement, does the City retain authority to make investment decisions? Yes No E) Pursuant to the agreement, are the investments deposited with the City's custodian? Yes No 8. Maturitv Limits A) Does the City currently own any security with a maturity date in excess of five years? Yes No X B) Does the City currently hold at least 25% and•no more than 50% of its portfolio in securities at time of purchase with maturities equal to or less than 365 days? Yes X No C) Does the City currently hold no more than 50%of its portfolio in securities at time of purchase with maturities between 366 days and 730 days? Yes X No D) Does the City currently hold no more than 35%of its portfolio in securities at time of purchase with maturities between 731 days and 1095 days? Yes X No E) Does the City currently hold no more than 30%of its portfolio in securities at time of purchase with maturities between 1096 days and 1460 days? Yes X No F) Does the City currently hold no more than 30%of its portfolio in securities at time of purchase with maturities between 1461 days and 1825 days? Yes X No 9. Issuer Limits Does each issuer of Money Market Mutual Funds continue to meet the following requirements? i) Is each issuer registered with the Securities and Exchange Commission under the Investment Company Act of 1940? Yes No N/A X ii) Does the fund of each issuer carry the highest rating of at least two of the three largest national rating agencies? Yes No N/A X iii) Has each issuer retained an investment adviser registered with the Securities and Exchange Commission with not less than five years' experience managing money market mutual funds with assets urider management in excess of$500 million? Yes No N/A X Prepared By: Audited By: 2,I.,Q.. fYtq os phi e Chan osa o G zman Investment/Revenue Officer Accountant We hereby certify that for the month of July 2018,the investment actions of the City of Orange comply in all respects with the requirements of the California Government Code and the City's current Investment Policy and that there is suf cient cash flow to cover the next six months'expenditures barring any catastrophic natural disasters. Market values are obtained through ICE Data Pricing and Reference Data,the State Treasurer's Office,U.S.Trust and U.S.Bank. Ce rtified By: Verified By: C..,l Richard A. Rohm William M. Kolbow City Treasurer Administrative Services Director DATED: October 25, 2018 City of Orange Investment Portfolio July 31,2018 Sorted by TYPE) BANK/BROKER PURCHASE DESCRIPTION MATURITY RATE YIELD PAR BOOK MARKET DATE DATE VALUE VALUE VALUE I)LOCAL AGENCY INVESTMENT FUND(LAIF) City 1.944 1.944 12,000,000.00 12,000,000.00 12,000,000.00 OSA 1.944 1.944 9,000,000.00 9,000,000.00 9,000,000.00 21,000,000.00 21,000,000.00 21,000,000.00 II)FEDERAL HOME LOAN BANK Stifel Nicolaus&Co Inc. 7/27/2016 FHLB 7/27/2021 1.500 1.516 7,000,000.00 6,996,861.67 6,705,944.00 Stifel Nicolaus&Co Inc. 8/30/2017 FHLB 8/26/2022 2.125 2.125 7,000,000.00 7,000,000.00 6,748,098.00 Stifel Nicolaus&Co Inc. 3/29/2018 FHLB 6/29/2020 2.500 2.473 2,000,000.00 2,001,019.26 1,986,452.00 16,000,000.00 15,997,880.93 15,440,494.00 III)FEDERAL NATIONAL MORTGAGE ASSOCIATION Stifel Nicolaus&Co Inc. 4/27/2016 FNMA 4/27/2020 1.450 1.450 6,000,000.00 6,000,000.00 5,876,664.00 Stifel Nicolaus&Co Inc. 4/28/2016 FNMA 10/28/2019 1.400 1.400 1,000,000.00 1,000,000.00 985,602.00 UBS Financial Services 5/26/2016 FNMA 5/25/2021 1.750 1.750 15,000,000.00 15,000,000.00 14,551,995.00 UBS Financial Services 5/26/2016 FNMA 2/25/2020 1.500 1.500 9,000,000.00 9,000,000.00 8,842,374.00 Stifel Nicolaus&Co Inc. 5/27/2016 FNMA 11/30/2020 1.500 1.707 4,000,000.00 3,998,966.11 3,889,652.00 UBS Financial Services 7/27/2016 FNMA 7/27/2021 1.550 1.550 6,000,000.00 6,000,000.00 5,768,412.00 41,000,000.00 40,998,966.11 39,914,699.00 IV)FEDERAL FARM CREDIT BANK UBS Financial Services 2/25/2016 FFCB 2/27/2021 1.620 1.649 5,000,000.00 4,997,444.20 4,848,795.00 UBS Financial Services 4/19/2017 FFCB 1/3/2020 1.625 1.625 4,000,000.00 4,000,000.00 3,936,336.00 UBS Financial Services 6/14/2016 FFCB 2/18/2020 1.360 1.360 6,000,000.00 6,000,000.00 5,870,532.00 15,000,000.00 14,997,444.20 14,655,663.00 V)MEDIUM TERM NOTE UBS Financial Services 10/5/2016 Apple S/4/2021 1.550 1.550 2,000,000.00 2,000,000.00 1,918,146.00 Stifel Nicolaus&Co Inc. 11/8/2016 Wells Fargo Bank 5/24/2019 1.750 1.506 6,000,000.00 6,011,649.63 5,956,464.00 UBS Financial Services 4/21/2017 Microsoft 8/8/2019 1.100 1.409 4,000,000.00 3,987,627.62 3,943,288.00 UBS Financial Services 6/29/2017 Toyota 12/29/2020 2.000 2.000 10,000,000.00 10 000 000.00 9 558 440.00 22,000,000.00 21,999,277.25 21,376,338.00 VI) MONEY MARKET MUTUAL FUNDS(TREASURY) Wells Fargo Bank U.S.T-Note 1.749 1.749 2,871,758.50 2,871,758.50 2,871,758.50 2,871,758.50 2,871,758.50 2,871,758.50 Pottfolio total 7-31-18 117,871,758.50 117,865,326.99 115,258,952.50 Portfolio total 6-30-18 152,524,649.29 152,518,235.46 150,046,378.29 Part.1 8/31/2018 11:08 AM Investment Transactions July 2018 . SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE PURCHASES / DEPOSITS i a a a u a'i. ro r g a c '. 3 3- P r a t d I'.-, a Swee ;4ccoun#:I 749°l0 " 37 i9 o -r. !/A'271 Q2-66.'1 27X 1 fl2:366 1':'QUS C B @$ r: 'r r r a r 3 k a r 0 3l r ., a M ' r"' ' *^ ` ',, dy3; p a 3 A r w. n,..' , : .: '.r.'''_ ...' :.::•...„`._..3,......,.._...._.._.. w , r;:a;'..,a 3,.. ' ul _i ...m..... - m_«..........,,.,.._.a 3`T w._........_.....,..._ 7/17/2018 L.A.I.F. 1.944% 1.944% N/A $ 170,936.10 $170,936.10 a a` y 3., a,'^ z 3 a y'e i'r B ._3 r a i, 1 3W, a. ll 4l Us -F yk k L3 "°. I' 3 ', '.133 k. t L m E T, w "1' 3F -s e s ys : a g - ;s k M1 kp" F a : y. 3 '3 I 4, p E: ex , wn,e._ ,,Ta,u,°„° „ s= 3 a 2,.,.'. u,..,..- , .., _, e,.wa A....,....u3aakdz..u,,,,,::.>H ...w».. . ,.,... .a w,.....,. , ,,,,.<_,.,.,.....,,..H»n.:. .»......., . ...'vss-..,_„_ s-- e y c"'".., '.,'n-x. - .;. y, . ?- '.a.,-z..-.. v-i? I3 r.r-.- , ", "3,* '..E 4,..i 1'. v 3"„- .; x* f s r 33 x,3, 3 v .'.3 a v " . ':., ..s 3 ° 3 '., 'S ?al.' .33: r s- ,,, .....; p 3-;., y f 3 ; _"y»t .,: , '. i s J J.zoa a 3,''x . r 3 3 a 3h a"".° a' 0,'Y'. a. y ;,a a a...>c..- ......:.......»u..n.a..s,.,..... „_„<._: ............:. ._ . . ,.:.. ...,..:. .......,,.,.. ,iM..: M»sa„::m,....,, ._..Y .. , . .,...,..,. >, u.,.,...3.'< ...m...,.. .r..,.. 3r .,.. a.ma.ri v.w:.., y ; 3' ', f 5. r '__ w y_. i nY a" . 9 r a s „3 , v y r s a 3 a &' "`c ` i u`, r i i `k' Y i. 3.a' f.,: 3 t 3'9 r ''. '"" ,_ t i 5 : ,n.-a E ;;y3te y,;. i 5 3 v ' , r l. 7 a '. 5 S. h 33".33 ' 5-''.. 3 1. . .:. 3 w,.i9a.R_ b.e .,,,-'i .e>._, _ ..., .., a.. . r 3 . .......... " Zs. a- r, nu.. .. c a '.T_:.... Buy.Sell.1 Investment Transactions July 2018 SETTLEMENT DATE DESCRIPTION . RATE YIELD CALLABLE PAR PRICE MATURITIES /WITHDRAWALS / CALLS e 3„. c y : a n j''' i 3 .. 3g ., : 33; t s I. i r.- Uaiiou5`dates , : : Swee Accounfi'. . .1 749°/a . 9 74J°lo NiA 3'f,06'1,444'1 $31,06'1,44419 ; P z,., I b3"p:; _ .k ..;3 I E``"3 3 '` ',F'" Srya`d ` :. 2` .: i ; ._...-.:...........__._:i..:.,•.d....:;.__,_.._.. -..+..::• ' . .;.':....,.::..._=',. .?...:.••?.,r .'........:..:..,,. v ' ,s'.:.. .......a.._.................__...__..,.._..... ..i._.'......',..:...'....::.:; Various dates L.A.I.F. 1.944% 1.944% N/A 30,870,936.10 $30,870,936.10 z :,.H . i".",",3 x r,n,.,,i „,; ^'"..,. 7 I'"' "y F.; z yryj a""..," t 33 S v9 k , " ;I yr31 I..iSz m: 3 j a y i,' t 11 I e 1 333•'.w , t f I a ax 3 A' Y y?hs. .s' i 3,.. _ r v ., 'x a ' g '. u 3 '' c ''1 b L ^ y- y'v mE c 3 E .1' 2' f A ,; l.' :...,........_µ,.:,,_ . , ._.,.-.,...... < ,...,,..,i.,,..: ..............a,n,.,.......,..,a ...,...,..„ ...,...:,..... -,»,. .......' .,.,...,:« ..»... ...: . .., ..'w.a,:..:. .............m,.. .........s. s ....._.,..,.....,,...,,.,_.., a_.....,. z ., 3 p ., . r, ,', r r 3`:.'IWµ :r k r 0 xkY ,..l ''3` n'".. w- f ' a},+'` a " :::s vs' .f 3! ` T'd a S F ° '.ff ' 3 vl,S 3t"'3 flri. r4 w 4'.' m .. 1'5! i y3 ,S-a 3 3 31, .;': _. 3 I .d s n 3', , 1 :,3.,. I, . ` :ijl3 I K 3 % y 3 s -,,as .., y 3 '. , a l,3,33 a?.e 'k. 33 4 5 .e `'i, v 9 2 S . 3 ii c' . 39 3 y 3 1. •K'I "-g,- A 3 sr,.3 .. d 3 ` ,'s d ,'. 3 v - aw.xa.Gx....u.z..:...:...... ......._,...''....... 33....«,.,... w.a,:x.«...... ...... .:.......,a'J.',':.......,...._,..,': _...,...,.....:.. :,,...:. .....,u.,.ai..,u,,...,,...........''.s....:::.:¢s..,.....,.....-m'`,,.........x.......,v.,. ,,.W.........:.... __.... _._..,....«..,........,....,.,....,:v.......,...s.w.,w,.w...?u...,.w:aa."`.:..... z L" . e"'ir n 1 E A i Y a 3! ..,' .' l j aq o-r y, d'3 ';, a : * 3,;l F Jr,:. _ .:.. r.. ,W.,... '', .- " s_.'1' j -s. -,r-,"c` l" , . 3 3t 1 r, fl I , 3 ",s. ' £€. ta3 i 3 a x a i33+4 t> u ' s a a a 3 u ' a. s;,i 3',°x i' 3 '; r k t _,.,,,.. .,,, ,_., „ , . a.....„W,-.z,'x-n., , ...,:: .:_.,_,,,.,a,. , :. ........, ..,..... ..n- ,,.. ... :. ,. _.__..,.,,_.,._,,,s,: ..__x.,.,: ...,,,, . u.d m:-,:», x z a s p a a n y- d, i" y s+"'" 1 y 3 3:,b 3 z y ' 3. r ' „3 z - 3 ia ' 3 fl '°-€ }3 Zr ... ,.1 l 3' ' ; n- 3's:° 6 c y83.: k r' :'. i,.:, , .-.:. „ ...,i,r..,.s. , ..,„ a,1 ,.x, y, ,.-,..' Buy.sell.l City of Orange Investment Portfolio July 31,2018 Portfolio Performance Measures Portfolio Indexes Rate of Return: Portfolio Effective Rate of Return-for July 1.69% 1.99% 3 month Treasury--July Average Portfolio Effective Rate of Return-for Fiscal Year-to-date 1.69% 2.17% 6 month Treasury--July Average Portfolio Yield to Maturity at 7/31/2018 1.72% 2.39% 1 year Treasury--July Average Total Rate of Return: Total Rate of Return-for July(not annualized) 0.17% -0.01% 1-3 Year Treasury Index--Total Rate of Return for July(not annualized) Total Rate of Return-for 2018 Y-T-D-(not annualized) 0.65% 0.07% 1-3 Year Treasury Index--Total Rate of Return for 2018 Y-T-D(not annualized) Other: Portfolio Weighted-Average Time to Maturity 1.83 Years Market Value as percent of Portfolio, 7/31/18 97.79% Market Value as percent of Portfolio, 6/30/18 98.38% Federal Agency Securities as percent of Portfolio,7/31/18 61.08% Portfolio Effective Rate of Return:interest earnings(not receipts)for period divided by average daily balance for period,annualized(multiplied by quotient of 365 divided by days in period). Portfolio Yield to Maturity:weighted-average yield to maturity(or call date,if applicable)for entire portfolio; in the case of coupon investments,includes an adjustment to the face rate for any premium paid or discount received. Source of Market Value:ICE Data Pricing and Reference Data provides market value on all instruments. Total Rate of Return:growth or decline in the value of the portfolio,including both changes in the market value and income,as a proportion of the starting value, adjusted on a time-weighted basis(per Modified Dietz Method)for cash flows into or out of the portfolio during the period. The Modified Dietz Method assumes a constant rate of return on the portfolio during the period and is not based on daily valuations. Port.1 Port(olio Performance 9/4/2018 3:58 PM City of Orange Investment Portfolio July 31 , 2018 Toyota Microsoft Medium Term Note Wells Far o Bank Medium Term Note 10.0 8.48%o Mone MarketgYield2.000/o Y Medium Term Note $4.0 3.38% Mutual Funds 6.0 5.10%Yield 1.409% 2,g 2,44% Local Agency Investment Fund Yield 1.506% Yield 1.749% 21.0 17.82% Yield 1.944% Apple Medium Term Note 2.0 1.70% Yield 1.550% Federal Home Loan Bank 16.0 13.57% Yield 1.902% r._. Federal Farm Credit Bank f o15.0 12.72/o b oYield1.524/o E s tE t s . f f€a. Federal National Mortgage Association 41.0 ' 34.79% Yield 1.609% Total Portfolio $117,865,327 Chart Dollar Values in Millions of Dollars City of Orange Investment Portfolio July 31, 2018 Maturity Aging Schedule Maturing in Book Value 0-1 years 29,883,408 25% 1-2 years 31 ,988,647 27%. 2-3 years 46,993,272 40% 3-4 years 2,000,000 2% 4-5 years 7,000,000 6% 117,865,327 100% Weighted-average years to maturity for portfolio = 1.83 100,000,000 90,000,000 80,000,000 70,000,000 60,000,000 50,000,000 40,OOQ000 n s r 30,000,000 w ,„: z 7 E:,"a ""." 'th c t.,'$ r' i ,i s p, ' bf't #4 e. 20,000,000 x, q,,, r v s i " , F. d " t iy'y TMFS d` 4 y Yy jF 4 it p Y" '. ay 7."M. 3 p Q 3 ,{b"4'4b#',§, h} p fif h.t `.t'G„t . ,,d} W1 0 0 h'>d' 44 N} a'"d,' a` r $.' " ' J ,*:l A u r `a a.. 3 ty a+e sp z @ m xs W— n ;,'`"ai..+.., i. ,. e e-'.f w S tj b 0-1 years 1-2 years 2-3 years 3-4 years 4-5 years Matur.l 8/31/2018 11:09 AM City of Orange Reconciliation of Total Cash and Investments to General Ledger As of July 31, 2018 Treasurer's Operating Cash and Investments Checking, Payroll&PMA -Wells Fargo 296,345 Treasurer's Investments 117,865,327 Cash in transit 712,800 118,874,472 Cash Deposits with Administrators State Compensation Insurance Fund 90,423 118,964;895 Imprest Cash 12,200 Fiscal Agent Cash and Investments 7,366,841 Total Cash & Investments 126,343,936 Total Cash and Investments per General Ledger 126,030,730 Plus Outstanding Checks 313,206 Total Cash & Investments 126,343,936 1 Includes adjustment for month-end timing differences. ct,casn Attachment V City of Orange Fiscal Agent Investments As of July 31, 2018 Market or Carrying Contract Value Value Fiscal Agent Cash and Investments Assessment District 95-1 1996 Limited Obligation Improvement Bonds- U.S. Bank 79,311 79,311 First American Government Obligation Fund (1.77%) Community Facilities District 91-2 2013 Special Tax Refunding Bonds- U.S. Bank 1,586,475 1,586,475 First American Government Obligation Fund (1.77%) Federal National Mortgage Association (1.25%) Successor Agency 2008A Merged &Amended Tax Allocation Bonds- U.S. Bank 1,364 1,364 First American Government Obligation Fund (1.77%) Federal National Mortgage Association (1.375%) Successor Agency 2008B Merged &Amended Tax Allocation Bonds- U.S. Bank 515,773 515,773 First American Government Obligation Fund (1.77%) Federal National Mortgage Association (1.875%) Community Facilities District 06-1 2015 Special Tax Refunding Bonds- U.S. Bank 1,564,629 1,564,629 First American Government Obligation Fund (1.77%) US Treasury Bond (4.375%) Successor Agency 2014A Merged &Amended Tax Allocation Refunding Bonds- U.S. Bank 3,495,428 3,495,428 First American Government Obligation Fund (1.77%) Successor Agency Refunding Bonds 2018A- U.S. Bank 123,861. 123,861 First American Government Obligation Fund (1.77%) Total Fiscal Agent Cash and Investments 7,366,841 7,366,841 Fiscal.l Master(2) Attachment B Investment Report for August 2018 MONTHLY SUMMARY COMPLIANCE CERTIFICATE August 2018 Note: All concentration restrictions were obtained from Sections 53601 and 53635 of the Government Code or the City's Investment Policy as of June 12,2018,whichever was the more stringent. 1. U.S. A encies A) Total amount (book value) of U.S. Agency securities owned by the City = $71,994,455. B) Total amount allowed (75°Io of portfolio book value) of all City investments = $89,868,777. Is (A) less than (B) at time of purchase? Yes X No 2. Mone_y Market Mutual Funds A) Total amount (book value) invested in money market mutual funds by the City= 4 531485. B) Total amount allowed ($15 million or 20°Io of portfolio book value, whichever is less) of all City investments = $15,000,000. Is (A) less than (B)? Yes X No 3. LAIF A) Total amount (book value) invested in LAIF by the City= $21,300,000. B) Total amount allowed (35% of portfolio book value) of all City investments = $41,938,762. Is (A) less than (B)? Yes X No 4. Commercial Paper A) Total amount (book value) invested in commercial paper by the City= B) Total amount allowed (20°Io of portfolio book value) of all City investments =$23,965,007. Is (A) less than (B)? Yes X No 5. Medium-Term Notes A) Total amount (book value) invested in medium-term notes by the City= $21,999,096. C) Total amount allowed (20% of portfolio book value) of all City investments = $23,965,007. Is (A) less than (B)? Yes X No 6. Excluded Investment Vehicles A) Are any securities excluded by the Statement of Investment Policy currently included in the City's portfolio? Yes No X 7. Investment Mana ement A reements A) Does the City have any investment manager or advisor agreements? Yes No X (if no, skip to number 8) B) If so, was the agreement approved in advance by the City Council? Yes No C) Has the City examined the methods and past performance of the investment manager? Yes No D) Pursuant to the agreement, does the City retain authority to make investment decisions? Yes No E) Pursuant to the agreement, are the investments deposited with the City's custodian? Yes No 8. Maturity Limits A) Does the City currently own any security with a maturity date in excess of five years? Yes No X B) Does the City currently hold at least 25% and no more than 50% of its portfolio in securities at time of purchase with maturities equal to or less than 365 days? Yes X No C) Does the City currently hold no more than 50%of its portfolio in securities at time of purchase with maturities between 366 days and 730 days? Yes X No D) Does the City currently hold no more than 35% of its portfolio in securities at time of purchase with maturities between 731 days and 1095 days? Yes X No E) Does the City currently hold no more than 30% of its portfolio in securities at time of purchase with maturities between 1096 days and 1460 days? Yes X No F) Does the City currently hold no more than 30°Io of its portfolio in securities at time of purchase with maturities between 1461 days and 1825 days? Yes X No 9. Issuer Limits Does each issuer of Money Market Mutual Funds continue to meet the following requirements? i) Is each issuer registered with the Securities and Exchange Commission under the Investment Company Act of 1940? Yes No N/A X ii) Does the fund of each issuer carry the highest rating of at least two of the three largest national rating agencies? Yes No N/A X iii) Has each issuer retained an investment adviser registered with the Securities and Exchange Commission with not less than five years' experience managing money market mutual funds with assets under management in excess of$500 million? Yes No N/A X Prepared By: Audited By: 1.- Gti J phii e Chan Rosari Guzman Investment/Revenue Officer Accountant We hereby certify that for the month of August 2018,the inveshnent actions of the City of Orange comply in all respects with the requirements of the California Government Code and the City's current Investment Policy and that there is suf cient cash tlow to cover the next six months'expenditures barring any catastrophic natural disasters. Market values are obtained through ICE Data Pricing and Reference Data,the State Treasurer's Office,U.S.Trust and U.S.Bank. Certified By: Verified By: iLf Richard A. Rohm William M. Kolbow City Treasurer Administrative Services Director DATED: October 25, 2018 City of Orange Investment Portfolio August 31,2018 Sorted by TYPE) BANK/BROKER PURCHASE DESCRIPTION MATURITY RATE YIELD PAR BOOK MARKET DATE DATE VALUE VALUE VALUE I)LOCAL AGENCY INVESTMENT FUND(LAIF) City 1.998 1.998 11,300,000.00 11,300,000.00 11,300,000.00 OSA 1.998 1.998 10,000,000.00 10,000,000.00 10,000,000.00 21,300,000.00 21,300,000.00 21,300,000.00 II)FEDERAL HOME LOAN BANK Stifel Nicolaus&Co Inc. 7/27/2016 FHLB 7/27/2021 1.500 1.516 7,000,000.00 6,996,949.17 6,731,123.00 Stifel Nicolaus&Co Inc. S/30/2017 FHLB 8/26/2022 2.125 2.125 7,000,000.00 7,000,000.00 6,780,305.00 Stifel Nicolaus&Co Inc. 3/29/2018 FHLB 6/29/2020 2.500 2.473 2,000,000.00 2,000,974.81 1,988,462.00 16,000,000.00 15,997,923.98 15,499,890.00 III)FEDERAL NATIONAL MORTGAGE ASSOCIATION Stifel Nicolaus&Co Inc. 4/27/2016 FNMA 4/27/2020 1.450 1.450 6,000,000.00 6,000,000.00 5,888,430.00 Stifel Nicolaus&Co Inc. 4/28/2016 FNMA 10/28/2019 1.400 1.400 1,000,000.00 1,000,000.00 987,435.00 UBS Financial Services 5/26/2016 FNMA 5/25/2021 1.750 1.750 15,000,000.00 15,000,000.00 14,599,065.00 UBS Financial Services 5/26/2016 FNMA 2/25/2020 1.500 1.500 9,000,000.00 9,000,000.00 8,856,297.00 Stifel Nicolaus&Co Inc. 5/27/2016 FNMA 11/30/2020 1.500 1.707 4,000,000.00 3,999,003.08 3,898,940.00 UBS Financial Services 7/27/2016 FNMA 7/27/2021 1.550 1.550 6,000,000.00 6,000,000.00 5,791,290.00 41,000,000.00 40,999,003.08 40,021,457.00 IV)FEDERAL FARM CREDIT BANK UBS Financial Services 2/25/2016 FFCB 2/27/2021 1.620 1.649 5,000,000.00 4,997,527.90 4,866,615.00 UBS Financial Seroices 4/19/2017 FFCB 1/3/2020 1.625 1.625 4,000,000.00 4,000,000.00 3,949,556.00 UBS Financial Services 6/14/2016 FFCB 2/18/2020 1.360 1.360 6,000,000.00 6,000,000.00 5,892,552.00 15,000,000.00 14,997,527.90 14,708,723.00 V)MEDIUM TERM NOTE UBS Financial Services 10/5/2016 Apple 8/4/2021 1.550 1.550 2,000,000.00 2,000,000.00 1,923,882.00 Stifel Nicolaus&Co Inc. 11/8/2016 Wells Fargo Bank 5/24/2019 1.750 1.506 6,000,000.00 6,010,456.83 5,965,008.00 UBS Financial Services 4/21/2017 Microsoft 8/8/2019 1.100 1.409 4,000,000.00 3,988,638.98 3,949,024.00 UBS Financial Services 6/29/2017 Toyota 12/29/2020 2.000 2.000 10,000,000.00 10,000,000.00 9,565,690.00 22,000,000.00 21,999,095.81 21,403,604.00 VI) MONEY MARKET MUTUAL FUNDS(TREASURY) Wells Fargo Bank U.S.T-Note 1.834 1.834 4,531,484.56 4,531,484.56 4,531,484.56 4,531,484.56 4,531,484.56 4,531,484.56 PortFolio total 8-31-18 179,831,484.56 119,825,035.33 117,465,158.56 Portfolio total 7-31-18 177,871,758.50 117,865,326.99 115,258,952.50 Port.2 10l4/2018 4:12 PM Investment Transactions August 2018 SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE PURCHASES / DEPOSITS Various dates ° • Sweep Account- 1`.834% , 1.834% ' N/A ' $'` 5,371.;447.43 `$5,371;447:43 Various dates L.A.I.F. 1.998% 1.998% N/A $ 2,500,000.00 $2,500,000.00 Buy.Sell2 Investment Transactions August 2018 SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE MATURITIES /WITHDRAWALS / CALLS Various dates Sweep Account 1.834% 1.834% N/A 3;720,780.10 $3,720,780.10 8/10/2018 L.A.I.F. 1.998% 1.998% N/A 2,200,000.00 $2,200,000.00 Buy.Sell2 City of Orange Investment Portfolio August 31,2018 Portfolio Performance Measures Portfolio Indexes Rate of Return: Portfolio Effective Rate of Return-for August 1.70% 2.07% 3 month Treasury--August Average Portfolio Effective Rate of Return-for Fiscal Year-to-date 1.70% 2.24% 6 month Treasury--August Average Portfolio Yield to Maturity at 8/31/2018 1.74% 2.45% 1 year Treasury--August Average Total Rate of Return: Total Rate of Return-for August(not annualized) 0.19% 0.32°/a 1-3 Year Treasury Index--Total Rate of Return for August(not annualized) Total Rate of Return-for 2018 Y-T-D-(not annualized) 0.82% 0.39% 1-3 Year Treasury Index--Total Rate of Return for 2018 Y-T-D(not annualized) Other: Portfolio Weighted-Average Time to Maturity 1.73 Years Market Value as percent of Portfolio, 8/31/18 98.03% Market Value as percent of Portfolio, 7/31/18 97.79% Federal Agency Securities as percent of Portfolio,8/31/18 60.08% Portfolio Effective Rate of Return:interest earnings(not receipts)for period divided by average daily balance for period,annualized(multiplied by quotient of 365 divided by days in period). Portfolio Yield to Maturity:weighted-average yield to maturity(or call date,if applicable)for entire portfolio; in the case of coupon investments,includes an adjustment to the face rate for any premium paid or discount received. Source of Market Value:ICE Data Pricing and Reference Data provides market value on all instruments. Total Rate of Return:growth or decline in the value of the portfolio,including both changes in the market value and income,as a proportion of the starting value, adjusted on a time-weighted basis(per Modified Dietz Method)for cash flows into or out of the portfolio during the period. The Modified Dietz Method assumes a constant rate of return on the portfolio during the period and is not based on daily valuations. PoA2 Portfolio Performance 10/4/2018 4:12 PM City of Orange Investment Portfolio August 31 , 2018 Toyota Microsoft Medium Term Note Medium Term Note 10.0 8.35% Wells Fargo Bank $4.0 3.33% Yield 2.000% Money Market Medium Term Note Yield 1.409% Mutual Funds Local Agency Investment Fund 6.0 5.02% 4.5 3.78% 21.3 17.77% Yield 1.506%Yield 1.834% Yield 1.998% Apple Medium Term Note 2.0 1.67% s Federal Home Loan Bank Yield 1.550% 35%16 0 13 w ' ,Yield 1.902% 3 .; ;:._:E l ; ,'•.'.l! ,':'i 1 Federal Farm Credit Bank l, ,, !. I f;```` 15.0 12.52% i PF d'' , ji . ,, ' a's, ` Yield i.524°io 9 ` ° I 6 + .1#'=1'y;;'. s { f, "9 , s a# # t. t b t i , l, 4 !{ 4 t p !l ti= {f I f . : , 1.P t,.!p i !; ' 'Ii 1.,1 1.Eif ,. a,jE,. .. Federal National Mortgage Association 41.0 34.21% Yield 1.609% Total Portfolio $119,825,035 Chart Dollar Values in Millions of Dollars City of Orange Investment Portfolio August 31, 2018 Maturity Aging Schedule Maturing in Book Value 0-1 years 35,830,580 30% 1-2 years 28,000,975 23% 2-3 years 48,993,480 41% 3-4 years 7,000,000 6% 4-5 years 0 0% 119,825,035 100% Weighted-average years to maturity for portfolio = 1.73 100,000,000 90,000,000 80,000,000 70,000,000 60,000,000 50,000,000 r m,. , 40,000,000 Lp j F ' yk '. 30,000,000 s '"° f` , rY + r a z lhfi'h . . l S, P,,. r A 20 0 0 t- x ' r t , n 'srr ",^,.w.- s y. . r,u r'` a s" u.a''', i"' a" "t r 10,000,000 7' "c 3 K gu` " s» t r"o r ,;a t; 'v + x a r ' r" :k, 0-1 years 1-2 years 2-3 years 3-4 years 4-5 years Matur2 10/4/2018 4:11 PM City of Orange Reconciliation of Total Cash and Investments to General Ledger As of August 31, 2018 Treasurer's Operating Cash and Investments Checking, Payroll&PMA -Wells Fargo 218,286 Treasurer's Investments 119,825,035 Cash in transit 1,146,828) 118,896,493 Cash Deposits with Administrators State Compensation Insurance Fund 118,896,493 Imprest Cash 12,200 Fiscal Agent Cash and Investments 7,467,661 Total Cash & Investments 126,376,354 Total Cash and Investments per General Ledger '124,613,563 Plus Outstanding Checks 1,762,791 Total Cash & Investments 126,376,354 1 Includes adjustment for month-end timing differences. c cash z Attechment V City of Orange Fiscal Agent Investments As of August 31, 2018 Market or Carrying Contract Value Value Fiscal Agent Cash and Investments Assessment District 95-1 1996 Limited Obligation Improvement Bonds- U.S. Bank 147,688 147,688 First American Government Obligation Fund (1.79%) Community Facilities District 91-2 2013 Special Tax Refunding Bonds- U.S. Bank 1,586,520 1,586,520 First American Government Obligation Fund (1.79%) Federal National Mortgage Association (1.25%) Successor Agency 2008A Merged &Amended Tax Allocation Bonds-U.S. Bank 2,559 2,559 First American Govemment Obligation Fund (1.79%) Federal National Mortgage Association (1.375%) Successor Age.ncy 2008B Merged &Amended Tax Allocation Bonds- U.S. Bank 516,665 516,665 First American Government Obligation Fund (1.79%) Federal National Mortgage Association (1.875%) Community Facilities District 06-1 2015 Special Tax Refunding Bonds-U.S. Bank 1,590,206 1,590,206 First American Government Obligation Fund (.1.79%) US Treasury Bond (4.375%) Successor Agency 2014A Merged &kmended Tax Allocation Refunding Bonds- U.S. Bank 3,500,006 3,500,006 First American Government Obligation Fund (1.79%) Successor Agency Refunding Bonds 2018A- U.S. Bank 124,017 124,017 First American Government Obligation Fund (1.79%) Total Fiscal Agent Cash and Investments 7,467,661 7,467,661 Fiscal2 Master(2) Attachment C Investment Report for September 2018 MONTHLY SUMMARY COMPLIANCE CERTIFICATE September 2018 Note: All concentration restrictions were obtained from Sections 53601 and 53635 of the Government Code or the City's Investment Policy as of June 12,2018,whichever was the more stringent. 1. U.S.Agencies A) Total amount (book value) of U.S. Agency securities owned by the City = $71,994,619. B) Total amount allowed (75% of portfolio book value) of all City investments = $84,566,468. Is (A) less than (B) at time of purchase? Yes X No 2. Monev Market Mutual Funds A) Total amount (book value) invested in money market mutual funds by the City= 2 661758. B) Total amount allowed ($15 million or 20°Io of portfolio book value, whichever is less) of all City investments =$15,000,000. Is (A) less than (B)? Yes X No 3. LAIF A) Total amount (book value) invested in LAIF by the City= $16,100,000. B) Total amount allowed (35% of portfolio book value) of all City investments = $39,464,352. Is (A) less than (B)? Yes X No 4. Commercial Paper A) Total amount (book value) invested in commercial paper by the City=0. B) Total amount allowed (20% of portfolio book value) of all City investments = $22,551,058. Is (A) less than (B)? Yes X No 5. Medium-Term Notes A) Total amount (book value) invested in medium-term notes by the City= $21,998,914. C) Total amount allowed (20% of portfolio book value) of all City investments = $22,551,058. Is (A) less than (B)? Yes X No 6. Excluded Investment Vehicles A) Are any securities excluded by the Statement of Investment Policy currently included in the City's portfolio? Yes No X 7. Investment Mana ement A reements A) Does the City have any investment manager or advisor agreements? Yes No X (if no, skip to number 8) B) If so, was the agreement approved in advance by the City Council? Yes No C) Has the City examined the methods and past performance of the investment manager? Yes No D) Pursuant to the agreement, does the City retain authority to make investment decisions? Yes No E) Pursuant to the agreement, are the investments deposited with the City's custodian? Yes No 8. Maturitv Limits A) Does the City currently own any security with a maturity date in excess of five years? Yes No X B) Does the City currently hold at least 25°Io and no more than 50°Io of its portfolio in securities at time of purchase with maturities equal to or less than 365 days? Yes X No C) Does the City currently hold no more than 50%of its portfolio in securities at time of purchase with maturities between 366 days and 730 days? Yes X No D) Does the City currently hold no more than 35°Io of its portfolio in securities at time of purchase with maturities between 731 days and 1095 days? Yes X No E) Does the City currently hold no more than 30°Io of its portfolio in securities at time of purchase with maturities between 1096 days and 1460 days? Yes X No F) Does the City currently hold no more than 30% of its portfolio in securities at time of purchase with maturities between 1461 days and 1825 days? Yes X No 9. Issuer Limits Does each issuer of Money Market Mutual Funds continue to meet the following requirements? i) Is each issuer registered with the Securities and Exchange Commission under the Investment Company Act of 1940? Yes No N/A X ii) Does the fund of each issuer carry the highest rating of at least two of the three largest national rating agencies? Yes No N/A X iii) Has each issuer retained an investment adviser registered with the Securities and Exchange Commission with not less than five years' experience managing money market mutual funds with assets under management in excess of$500 million? Yes No N/A X Prepared By: Audited By: 1-. osephin Chan os o uzman Investment/Revenue Officer Accountant We hereby certify that for the month of September 2018, the investment actions of the City of Orange comply in all respects with the requirements of the California Government Code and the City's current Investment Policy and that there is suf cient cash flow to cover the next six months'expenditures barring any catastrophic natural disasters. Market values are obtained through ICE Data Pricing and Reference Data,the State Treasurer's Office,U.S.Trust and U.S.Bank. Certified By: Verified By: GV J siVVl1 v Richard A. Rohm William M. Kolbow City Treasurer Administrative Services Director DATED: October 25, 2018 City of Orange Investment Portfolio September 30,2018 Sorted by TYPE) BANK/BROKER PURCHASE DESCRIPTION MATURITY RATE YIELD PAR BOOK MARKET DATE DATE VALUE VALUE VALUE I)LOCAL AGENCY INVESTMENT FUND(LAIF) City 2.063- 2.063 9,600,000.00 9,600,000.00 9,600,000.00 OSA 2.063 2.063 6,500,000.00 6,500,000.00 6,500,000.00 16,100,000.0 0 16,100,00 0.00 16,100,00 0.00 II)FEDERAL HOME LOAN BANK Stifel Nicolaus&Co Inc. 7/27/2016 FHLB 7/27/2021 1.500 1.516 7,000,000.00 6,997,036.67 6,737,647.00 Stifel Nicolaus&Co Inc. 8/30/2017 FHLB S/26/2022 2.125 2.125 7,000,000.00 7,000,000.00 6,735,155.00 Stifel Nicolaus&Co Inc. 3/29/2018 FHLB 6/29/2020 2.500 2.473 2,000,000.00 2,000,930.37 1,983,380.00 16,000,000.00 15,997,967.04 15,456,182.00 III)FEDERAL NATIONAL MORTGAGE ASSOCIATION Stifel Nicolaus&Co Inc. 4/27/2016 FNMA 4/27/2020 1.450 1.450 6,000,000.00 6,000,000.00 5,880,450.00 Stifel Nicolaus&Co Inc. 4/28/2016 FNMA 10/28/2019 1.400 1.400 1,000,000.00 1,000,000.00 986,644.00 UBS Financial Services 5/26/2016 FNMA 5/25/2021 1.750 1.750 15,000,000.00 15,000,000.00 14,547,315.00 UBS Financial Services 5/26/2016 FNMA 2/25/2020 1.500 1.500 9,000,000.00 9,000,000.00 8,847,756.00 Stifel Nicolaus&Co Inc. 5/27/2016 FNMA 11/30/2020 1.500 1.707 4,000,000.00 3,999,040.05 3,888,928.00 UBS Financial Services 7/27/2016 FNMA 7/27/2021 1.550 1.550 6,000,000.00 6,000,000.00 5,767,458.00 41,000,000.00 40,999,040.05 39,918,551.00 IV)FEDERAL FARM CREDIT BANK UBS Financial Services 2/25/2016 FFCB 2/27/2021 1.620 1.649 5,000,000.00 4,997,611.61 4,849,000.00 UBS Financial Services 4/19/2017 FFCB 1/3/2020 1.625 1.625 4,000,000.00 4,000,000.00 3,947,020.00 UBS Financial Services 6/14/2016 FFCB 2/18/2020 1.360 1.360 6,000,000.00 6,000,000.00 5,887,410.00 15,000,000.00 14,997,611.61 14,683,430.00 V)MEDIUM.TERM NOTE UBS Financial Services 10/5/2016 Apple 8/4/2021 1.550 1.550 2,000,000.00 2,000,000.00 1,918,510.00 Stifel Nicolaus&Co Inc. 11/8/2016 Wells Fargo Bank 5/24/2019 1.750 1.506 6,000,000.00 6,009,264.04 5,962,896.00 UBS Financial Services 4/21/2017 Microsoft 8/8/2019 1.100 1.409 4,000,000.00 3,989,650.35 3,948,716.00 UBS Financial Services 6/29/2017 Toyota 12/29/2020 2.000 2.000 10,000,000.00 10,000,000.00 9,542,710.00 22,000,000.00 21,998,914.39 21,372,832.00 VI) iNONEY MARKET MUTUAL FUNDS(TREASURY) Wells Fargo Bank U.S.T-Note 1.961 1.961 2,661,757.62 2,661,757.62 2,661,757.62 2,661,757.62 2,661,757.62 2,661,757.62 Portfolio total 9-30-18 112,761,757.62 112,755,290.71 110,192,752.62 Portfolio total 8-31-18 119,831,484.56 119,825,035.33 117,465,158.56 Port.3 10/12/201 S 3:37 PM Investment Transactions September 2018 SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE PURCHASES/ DEPOSITS r t, r. v ej arious dates Sweep Account 1:961% 1 961% N/A`„` $, 7,656,561`.98' $7,656;561 98 ° 9 . e r , 9/25/2018 L.A.I.F. 2.063% 2.063% N/A $ 4,700,000.00 $4,700,000.00 Y^ fi 3 4 i Buy.Sell.3 Investment Transactions September 2018 SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE MATURITIES/WITHDRAWALS/ CALLS Variou"s dates - weep Account ' 1:961%_ 1.961%_ ` N/A= - , '$9,531,915:46 $9,531,915.46 .;. Various dates L.A.I.F. 2.063% 2.063% N/A 9,900,000.00 $9,900,000.00 Buy.Sell.3 City of Orange Investment Portfolio September 30,2018 Portfolio Performance Measures Portfolio Indexes Rate of Return: Portfolio Effective Rate of Return-for September 1.72% 2.16% 3 month Treasury--September Average Portfolio Effective Rate of Return-for Fiscal Year-to-date 1.70% 2.34% 6 month Treasury--September Average Portfolio Yield to Maturity at 9/30/2018 1.73% 2.54% 1 year Treasury--September Average Total Rate of Return: Total Rate of Return-for September(not annualized) 1.20% -0.11% 1-3 Year Treasury Index--Total Rate of Return for September(not annualized) Total Rate of Return-for 2018 Y-T-D-(not annualized) 1.86% 0.28% 1-3 Year Treasury Index--Total Rate of Return for 2018 Y-T-D(not annualized) Other: Portfolio Weighted-Average Time to Maturity 1.77 Years Market Value as percent of Portfolio, 9/30/18 97.73% Market Value as percent of Portfolio, 8/31/18 98.03% Federal Agency Securities as percent of Portfolio,9/30/18 63.85% Portfolio Effective Rate of Return:interest earnings(not receipts)for period divided by average daily balance for period,annualized(multiplied by quotient of 365 divided by days in period). Portfolio Yield to Maturity:weighted-average yield to maturity(or call date,if applicable)for entire portfolio; in the case of coupon investments,includes an adjustment to the face rate for any premium paid or discount received. Source of Market Value:ICE Data Pricing and Reference Data provides market value on all instruments. Total Rate of Return:growth or decline in the value of the portfolio,including both changes in the market value and income,as a proportion of the starting value, adjusted on a time-weighted basis(per Modified Dietz Method)for cash flows into or out of the portfolio during the period. The Modified Dietz Method assumes a constant rate of return on the portfolio during the period and is not based on daily valuations. Port.3 Porttolio PeAortnance 10/12/2018 3:37 P M City of Orange Investment Portfolio September 30, 2018 Toyota Microsoft Medium Term Note MediumTerm Note 0.0 8.87% Wells Fargo Bank $4.0 3.54% Yield 2.000% Money Market Medium Term Note Yield 1.409% Mutual Funds Local Agency Investment Fund 6.0 5.33% 2.7 2.36/o 16.1 14.28% Yield 1.506% Yield 1.961 /o Yield 2.063% Apple Medium Term Note 2.0 1.77% 4 Yield 1.550%Federal Home Loan Bank 16.0 14.19%C Yield 1.902%w Federal Farm Credot Bank f. `'°;i€; = ` 15.0 13.30/o t _ # _ : Yield 1.524% b y?q . F .' } ({ ( '?( r ${, Sx k!. 9. . $^i.. y 4 . # .. L"' , $ t S 7... t ,.S . 1¢ ;+f. p . ! a, i . .F° `#{ C']¢ t 3.y', t S . Q.. ` }tx 3 .,j i. 7$` 2$¢7 . r°+..¢ S t }g, } f, j t t .` k y..?. t..;6$ g. Federal National Mortgage Association 41.0 36.36% Yield 1.609% Total Portfolio $112,755,291 Chart Dollar Values in Millions of Dollars City of Orange Investment Portfolio September 30, 2018 Maturity Aging Schedule Maturing in Book Value 0-1 years 28,760,673 26% 1-2 years 28,000,930 25% 2-3 years 48,993,688 43% 3-4 years 7,000,000 6% 4-5 years 0 0% 112,755,291 100% Weighted-average years to maturity for portfolio = 1.77 100,000,000 90,000,000 80,000,000 o,000,000 so,000,000 50,000,000 r.. .f;r 40,000,000 ti' f:, 30,000,000 20,000,000 10,000,000 0-1 years 1-2 years 2-3 years 3-4 years 4-5 years Matur.3 10/12/2018 3:37 PM City of Orange Reconciliation of Total Cash and Investments to General Ledger As of September 30, 2018 Treasurer's Operating Cash and Investments Checking, Payroll& PMA -Wells Fargo 201,692 Treasurer's Investments 112,755,291 Cash in transit 181,370 113,138,353 Imprest Cash 12,200 Fiscal Agent Cash and Investments 5,805,502 Total Cash & Investments 118,956,055 Total Cash and Investments per General Ledger 118,018,763. Plus Outstanding Checks 937,292 Total Cash & Investments 118,956,055 1 Includes adjustment for month-end timing differences.c casn 3 Attachment V City of Orange Fiscal Agent Investments As of September 30, 2018 Market or Carrying Contract Value Value Fiscal Agent Cash and Investments Assessment District 95-1 1996 Limited Obligation Improvement Bonds- U.S. Bank 78,877 78,877 First American Government Obligation Fund (1.84%) Community Facilities District 91-2 2013 Special Tax Refunding Bonds- U.S. Bank 3,269,061 3,269,061 First American Government Obligation Fund (1.84%) Federal National Mortgage Association (1.25%) Successor Agency 2008A Merged &Amended Tax Allocation Bonds- U.S. Bank 2;563 2,563 First American Government Obligation Fund (1.84%) Federal National Mortgage Association (1.375%) Successor Agency 2008B Merged &Amended Tax Allocation Bonds- U.S. Bank 1,895 1,895 , First American Government Obligation Fund (1.84%) Federal National Mortgage Association (1.875%) Community Facilities District 06-1 2015 Special Tax Refunding Bonds- U.S. Bank 2,442,821 2,442,821 First American Government Obligation Fund (1.84%) US Treasury Bond (4.375%) Successor Agency 2014A Merged &Amended Tax Allocation Refunding Bonds- U.S. Bank 9,941 9,941 First American Government Obligation Fund (1.84%) Successor Agency Refunding Bonds 2018A- U.S. Bank 344 344 First American Government Obligation Fund (1.84°/o) Total Fiscal Agent Cash and Investments 5,805,502 5,805,502 Flscal.3 Master(2) CITY COLTNCIL MINUTES NOVEMBER 13, 2018 2. PUBLIC COMMENTS (Continued) Don Bradly, Orange Park Acre Association(OPA)President—spoke regarding a proposed East Orange Loop multi-use trail and reported that OPA is working on getting financing for the project, and requested the City to draft a letter of support for submittal with the grant proposal. Sharon Mule—spoke in support of the East Orange Loop multi-use trail. Laura Thomas—spoke in support of the East Orange Loop multi-use trail. Mark Mayes—spoke in support of the East Orange Loop multi-use trail. Eugene Fields — spoke in opposition to the City of Orange funding a homeless shelter in the City. 3. CONSENT CALENDAR All items on the Consent Calendar are considered routine and are enacted by one motion approving the recommended action listed on the Agenda. Any member of the City Council, staff or the public may request an item be removed from the Consent Calendar for discussion or separate action. Unless otherwise specified in the request to remove an item from the Consent Calendar, all items removed shall be considered immediately following action on the remaining items on the Consent Calendar. 3.1 Confirmation of warrant registers dated October 4, 12, 26, and November 1, 2018. C2500.J.1.7) ACTION: Approved. 3.2 City Council Minutes, Regular Meeting of October 9, 2018; and Special Meeting of October 23,2018. (C2500.D.4) ACTION: Approved. 3.3 Waive reading in full of all ordinances on the Agenda. ACTION: Approved. 3.4 Monthly Treasurer's Reports for July,August, and September 2018. (C2500.F) ACTION: Received and filed. 3.5 Agreement with CSA Holdings, Inc. for maintenance and renovation of City sports fields. (A2100.0; AGR-6662) ACTION: Approved agreement with CSA Holdings, Inc. in an amount of$300,000; and authorized the Mayor and City Clerk to execute on behalf of the City. 3.6 Fourth Amendment to Agreement No.6267.B with Merchants Building Maintenance, LLC,for additional labor costs for custodial cleaning services in City parks.(A2100.0; AGR-6267.B.4) ACTION: Approved the amendment with Merchants Building Maintenance, LLC, in the amount of$32,190; and authorized the Mayor and City Clerk to execute on behalf of the City. PAGE 3