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03.04 Treasurer Report October-December 2018 �F p\ '��aG��PORA��1� (�:::: �:z AGENDA ITEM 9�'(i.�":NFRlL 8;1�::\�OQ' ��0�°°'� February 12, 2019 TO: Honorable Mayor and Members of the City Council THRU: Rick Otto, City Manager FROM: Richard A. Rohm, City Treasure��Y�..r-- William M. Kolbow, Administrative Services Director�,h. REVIEW: City Manag inance � 1 . SUBJECT Monthly Treasurer's Reports for October, November, and December 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 None. 5. STRATEGIC PLAN GOALS Goal 2: Be a fiscally healthy community d: Effectively manage and develop City assets. 6. 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 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. ITEM � � 02/12/2019 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 chanqes in Treasurer's cash and investments: Treasurer's Operating Cash & Investments�'� Balance @ 9/30/2018 $113,138,352 Monthly Activity: Cash Received 53,121,273 Cash Disbursed (42,516,580) Balance @ 12/31/2018 $123,743,045 �i>Includes operating cash and investments (valued at cost). Does not include deposits with administrator, imprest cash, fiscal agent cash and investments, and deferred compensation. For the month of October 2018 The October cash disbursements exceeded cash receipts by $3,309,177. During the month, large disbursements included payments totaling $1,634,948 to PERS for employee benefits, $1,250,773 to R.J. Noble for annual pavement maintenance and street rehabilitation, $843,466 to Garrett Gentry Engineering for storm drain and street improvements, $839,292 to Municipal Water District of Orange County for purchased water, $655,864 to Morillo Construction for Shaffer Park renovation, and $576,919 to All American Asphalt for pavement management program. In October, the City received $4,075,936 in sales tax revenue. In the month of October, no investments were purchased, matured or were called. The City's balance in L.A.I.F. on October 31 was $13,700,000 or a decrease of $2,400,000 due to cash disbursements exceeding cash receipts during the month. For the month of November 2018 The November cash receipts exceeded cash disbursements by $3,906,350. The City received $4,966,889 in in sales tax revenue and $4,913,494 in property tax revenue. During the month, large disbursements included payments totaling $2,208,762 to PERS for employee benefits and $584,412 to Municipal Water District of Orange County for purchased water. In the month of November, no investments were purchased, matured or were called. The City's balance in L.A.I.F. on November 30 was $17,300,000 or an increase of$3,600,000 due to cash receipts exceeding cash disbursements during the month. For the month of December 2018 � The December cash receipts exceeded cash disbursements by $10,007,520. The City received $9,975,890 in property tax revenue and $6,953,219 in sales tax revenue. Large disbursements included payments totaling $1,640,396 to PERS for employee benefits, $864,800 to Chapman University for release of cash bond deposit upon completion of the ITEM 2 02/12/2019 construction of improvements for the Center for Science and Technology, $465,366 to Municipal Water District of Orange County for purchased water, and $457,967 to Ben Ben Engineering for UCI Medical Center water improvements. In the month of December, no investments were purchased, matured or were called. The City's balance in L.A.I.F. on December 31 was $22,800,000 or an increase of $5,500,000 due to cash receipts exceeding cash disbursements during the month. Credit ratinq 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 February 6, 2019 while the next quarterly Committee meeting is to be scheduled for May 2019. 7. ATTACHMENTS 1. Investment Report for October 2018 2. Investment Report for November 2018 3. Investment Report for December 2018 ITEM 3 02/12/2019 1 . Investment Report for October 2018 MONTHLY SUMMARY COMPLIANCE CERTIFICATE . October 2018 Note: All concentration restrictions were obtained from Sections 53601 and 53635 of the Govemment 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 =$71,994,782. (B) Total amount allowed(75% of portfolio book value) of all City investments=$82,017,993. 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=$1,663,808. (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=$13,700,000. (B)Total amount allowed (35% of portfolio book value) of all City investments=$38.275,063. 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=$21,871,465. 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=$21,998,733. (C) Total amount allowed (20% of portfolio book value) of all City investments at the time of purchase =$32,399,485. 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 Agreements (A) Does the City have any investment manager or advisor agreements? Yes No X (if no, skip to number 8) 1 (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 matuzities 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 under management in excess of$500 million? Yes No N/A X 2 Prepazed By: Audited By: �9.��-� J se hine han R'osa o uzman Investment/Revenue Officer Accountant We hereby ceMify that for the month of October 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 sufficient 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: �� Richard A.Rohm William M.Kolbow City Treasurer Administrative Services Director DATED: January 30,2019 � � 3 City of Orange Investment Portfolio October 31,2018 (Sorted by TYPE) BANKIBROKER PURCHASE DESCRIPTION MATURITY RATE YIELD PAR BOOK MARKET DATE DATE VALUE VALUE VALUE (I)LOCAL AGENCY INVESTMENT FUND(LAIF) City - 2.144 2.144 6,800,000.00 6,800,000.00 6,800,000.00 OSA - 2.144 2.144 6,900,000.00 6,900,000.00 6,900,000.00 13,700,000.00 13,700,000.00 13,700,000.00 (II)FEDERAL HOME LOAN BANK Stifel Nicolaus 8 Co Inc. 7/27/2016 FHLB 7/27/2021 1.500 1.516 7,000,000.00 6,997,124.17 6,733,384.00 Stifel Nicolaus&Co Inc. 8/30/2017 FHLB 8/26/2022 2.125 2.125 7,000,000.00 7,000,000.00 6,730,122.00 Stifel Nicolaus 8 Co Inc. 3/29/2018 FHLB 6/29/2020 2.500 2.473 2,000,000.00 2,000,885.93 1,982,602.00 16,000,000.00 15,998,010.10 15,446,108.00 (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 5,880,102.00 Stifel Nicolaus 8 Co Inc. 4/28/2016 FNMA 10/28/2019 1.400 1.400 1,000,000.00 1,000,000.00 986,751.00 UBS Financial Services 5/26/2016 FNMA � 5/25/2021 1.750 1.750 15,000,000.00 15,000,000.00 14,534,550.00 UBS Financial Services 5/26/2016 FNMA 2/25/2020 1.500 1.500 9,000,000.00 9,000,000.00 8,849,493.00 Stifel Nicolaus&Co Inc. 5/27/2016 FNMA 11/30/2020 1.500 1.707 4,000,000.00 3,999,077.02 3,887,284.00 UBS Financial Services 7/27/2016 FNMA 7/27/2021 1.550 1.550 6,000,000.00 6,000,000.00 5,762,250.00 47,000,000.00 40,999,077.02 39,900,430.00 (I�FEDERAL FARM CREDIT BANK UBS Financial Services 2/25/2016 FFCB 2/27/2021 1.620 1.649 5,000,000.00 4,997,695.31 4,850,210.00 UBS Financiai Services 4l19/2017 FFCB 1/3/2020 1.625 1.625 4,000,000.00 4,000,000.00 3,948,648.00 UBS Financial Services 6/14/2016 FFCB 2/18/2020 1.360 1.360 6,000,000.00 6,000,000.00 5,892,090.00 15,000,000.00 14,997,695.31 14,690,948.00 (V)MEDIUM TERM NOTE UBS Financial Services 10/5/2016 Apple 8/4l2021 1.550 1.550 2,000,000.00 2,000,000.00 1,913,050.00 Stifel Nicolaus&Co Inc. 11/S/2016 Wells Fargo Bank 5/24/2019 1.750 1.506 6,000,000.00 6,008,071.24 5,961,084.00 UBS Financial Services 4/21/2017 Microsoft 8/8l2019 1.100 1.409 4,000,000.00 3,990,661.72 3,950,688.00 UBS Financial Services 6/29l2017 Toyota 12/29l2020 2.000 2.000 10,000,000.00 10,000,000.00 9,560,840.00 22,000,000.00 21,998,732.96 21,385,662.00 (VI) MONEY MARKET MUTUAL FUNDS(TREASURY) Wells Fargo Bank U.S.T-Note - 2.039 2.039 1,663,808.35 1,663,808.35 1,663,808.35 1,663,808.35 7,663,808.35 7,663,808.35 Portfolio total 10-31-18 109,363,808.35 109,357,323.74 106,786,956.35 POrtfolio total 9-30-18 172,761,757.62 112,755,290.71 110,792,752.62 Port.4 4 Investment Transactions October 2018 SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE PURCHASES / DEPOSITS . ,:. n _ , ., Various,dates �:SweepAccount� �� 2.039%a`� 2�.039% , � N/A �=. ��' $ `��8,458,095.19.� �� $8,458,095.11 .�� Various dates L.A.I.F. 2.144% 2.144% N/A $ 3,939,184.57 $3,939,184.57 _ _..mn ra---�,,... -.�..�.. _ _.�.,,.m__...�, ..��...�._�, , �.. �. „ �. : , . . � � _ ,. „ �� , , . .> �. , e , ., - ,�� , �. �.. , Buy.Sell.4 5 Investment Transactions October 2018 SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE MATURITIES /WITHDRAWALS /CALLS Various date`s Sweep Account ��2 039% 2.039% N/A $9 461 015 50 ��-$9 461 015 50 � � � . , � �_� � � � ti '� � I � ��; ��. � , � _ . � ,N�� ..: R , � „ � �. , � .:. , .', . ..... .,u' :.,��...:��"�K�� _��.� Various dates L.A.I.F. 2.144% 2.144% N/A $6,339,184.57 $6,339,184.57 � � � . F. q ':3 -.,. „ '�. I � P_ 9 .�.+ w �. i � ,�: ` .y 3 ki .: Y S; .... w. .., j,, ,i § t � n �,. � , ��,' °.� � £ " k `s k G � � �` �;� � >ryd �.° 3 � i � `,93. ,.�,�.M�,.�.:��:s;��._�...:,,z:�„�,��.�,,.a�..�..�.,.....:m..�.._.�.�..,�. .�.., ��,.:�..��.,.,.,�...�:.�.r-.»_��...�.�.,��:..x:�a,�..�.�:.�.�,,. •^'^•^�. y '�""'^'_'^ �"^"'? � _ , , a� . f�' � ; i�� Buy.Seu.4 6 City of Orange Investment Portfolio October 31, 2018 Porlfolio.Performance Measures Portfolio Indexes Rate of Retum: Portfolio Effective Rate of Return-for October 1.70% 2.28% 3 month Treasury—October Average Portfolio Effective Rate of Return-for Fiscal Year-to-date 1.74%' 2.45% 6 month Treasury—October Average Portfolio Yield to Maturity at 10/31/2018 1.74% 2.63% 1 year Treasury--October Average Total Rate of Retum: Total Rate of Return-for October(not annualized) -0.07% 0.15% 1-3 Year Treasury Index--Total Rate of Return for October(not annualized) Total Rate of Return-for 2018 Y-T-D-(not annualized) 1.84% 0.43% 1-3 Year Treasury Index--Total Rate of Return for 2018 Y-T-D(not annualized) Other. Portfolio Weighted-Average Time to Maturity 1.75 Years Market Value as percent of Portfolio, 10/3111 S 97.65% Market Value as percent of Portfolio, 9/30/18 97.73% Federal Agency Securities as percent of Portfolio,10/31/18 65.83% Portfolio Effective Rate of Return:interest eamings(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 retum on the portfolio during the period and is not based on daily valuations. Port.4 7 City of Orange Investment Portfolio October 31 , 2018 Toyota Microsoft Medium Term Note Medium Term Note 510.0 9.14% Wells Fargo Bank $4.0 3.65% Yield 2.000% Money Market Medium Term Note Yield 1.409% Mutual Funds $6.0 5.49% $1.7 1.52% a Yield 2.039% Local Agency Investment Fund Yield 1.506/a $13.7 12.54% App�e .r_._• � ;�--�;- „ ' Yield 2.144% Medium Term Note $2.0 1.83°/a � Federal Home Loan Bank Yield 1.550% \ $16.0 14.63% , ,;;;,;;;;;;;;;;;; � � �Yield 1.902% Federal Farm Credit Bank � �� '�' " ` ; � � � ��, . � � � �t i�[�� ,��g'�` ��-�'��P �� . ��31�� 515.0 13.71% e, i�� t �i��"4r� ; � �r�� ; �,�� }�z� �a �' �� Yield 1.524% a� ��3= e` �`��#�� }` �� '� �f��i� s� =�=tE��'� �i �1��r° �1� 7d ��ta� � =�� j � �: �'�€� � ��i�$��7�� 3 t6 Ei��s`°. � dt � � �� a � �'a rX �€_ ta�� 6� ��€3�� 1�{� �a��`�¢ � � 1`r( �� s��r g�7�H�fa I��P'`;��fT. �i�� f a y`F� �$ { � � �?34� I i j �� g�� '��i��ta d'��1 �g� ��s�[� ; �� 1 f Y f �7�}��y ��}� 3•��e g,, �� 3b � �,� 3s e 4 � �€��s �'�w�a �'� r ,�i'�i��"�=�. �� ,z �� ,�� E �� .f,._ � �� I �.z z�tP . �� . l� �n. ��°� �� ' � �� Federal National Mort a e �� 9 9 �, � Association $41.0 37.49% Yield 1.609% Total Portfolio $109,357,324 Chart Dollar Values in Millions of Dollars 8 City of Orange Investment Portfolio October 31, 2018 Maturity Aging Schedule Maturing in Book Value 0-1 years 26,362,541 24% 1-2 years 27,000,886 25% 2-3 years 48,993,897 45% 3-4 years 7,000,000 6% 4-5 years 0 0% $109,357,324 100% Weighted-average years to maturity for portfolio = 1.75 $�oo,000,000 $so,000,oao $80,000,000 $70,000,000 $60,000,000 $50,000,000 � �, . � � $40,000,000 ok $30,000,000 � ' � , a � }� � �� zy� ,„ '� = $20,000,000 �� , ��e�� ' � �� .�� °� v �&� `� � a ; e $�0��0��00� ��"-•�d�� i E � �: e� k $- � � ��'� ,� � � �� 0-1 years 1-2 years 2-3 years 3-4 years 4-5 years 9 Matur.4 City of Orange Reconciliation of Total Cash and Investments to General Ledger As of October 31, 2018 Treasurer's Operating Cash and Investments Checking, Payroll&PMA -Wells Fargo 277,038 Treasurer's Investments 109,357,324 Cash in transit 194,813 109,829,175 Imprest Cash 12,200 Fiscal Agent Cash and investments 3,305,151 Total Cash & Investments 113,146,526 Total Cash and Investments per Generai Ledger � 112,829,450 Plus Outstanding Checks 317,076 Total Cash & Investments 113,146,526 1 Includes adjustment for month-end timing differences. 1� c�casn a Atlacllment V City of Orange Fiscal Agent Investments As of October 31, 2018 Market or Carrying Contract . Value Value Fiscal Agent Cash and Investments Assessment District 95-1 1�996 Limited Obligation Improvement Bonds-U.S. Bank 79,007 79,007 First American Government Obligation Fund (2.03°/a) Community Facilities District 91-2 2013 Special Tax Refunding Bonds-U.S. Bank 1,567,171 1,567,171 First American Government Obligation Fund (2.03%) Federal National Mortgage Association (1.25%) Successor Agency 2008A Merged &Amended Tax Allocation Bonds-U.S. Bank 2,567 2,567 First American Government Obligation Fund (2.03%) Federal National Mortgage Association (1.375%) SuccessorAgency 20086 Merged&Amended Tax Allocation Bonds-U.S. Bank 1,974 1,974 First American Government Obligation Fund (2.03%) Federal Nationai Mortgage Association (1.875%) Community Facilities District 06-1 2015 Special Tax Refunding Bonds-U.S. Bank 1,643,596 1,643,596 First American Government Obligation Fund (2.03%) US Treasury Bond (4.375%) Successor Agency 2014A Merged&Amended Tax Allocation Refunding Bonds- U.S. Bank 10,473 10,473 First American Government Obligation Fund (2.03°/a) .. Successor Agency Refunding Bonds 2018A-U.S. Bank 363 363 First American Government Obligation Fund (2.03%) Total Fiscal Agent Cash and Investments 3,305,151 3,305,151 11 Flsral.4 Master(2) 2. Investment Report for November 2018 MONTHLY SUMMARY COMPLIANCE CERTIFICATE November 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 =$71.994,946. (B) Total amount allowed(75% of portfolio book value) of all City investments =$92,284,332. 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=$11,752,278. (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=$17,300,000. (B) Total amount allowed (35% of portfolio book value) of all City investments=$43,066,022. Is (A) less than(B)7 Yes X No 4. Commercial Paner (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=$24,609,155. 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=$21,998,552. (C) Total amount allowed (20%of portfolio book value) of all City investments at the time of purchase =$32,399,485. 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) 12 (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%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 13 Prepared By: Audited By: s hin Chan Irosa�o uzman Investment/Revenue Officer Accountant We hereby certify that for the month of November 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 sufficient 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: �� Richard A. Rohm William M.Kolbow City Treasurer Administrative Services Director DATED: January 30,2019 14 City of Orange Investment PortFolio November 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 - 2.208 2.208 13,500,000.00 13,500,000.00 13,500,000.00 OSA - 2.208 2.208 3,800,000.00 3,800,000.00 3,800,000.00 17,300,000.00 17,300,000.00 17,300,000.00 (II)FEDERAL HOME LOAN BANK Stifel Nicolaus&Co Inc. 7/27/2016 FHLB 7/27/2021 1.500 1.516 7,000,000.00 6,997,211.67 6,754,874.00 Stifel Nicolaus&Co Inc. 8/30/2017 FHLB 8/26/2022 2.125 2.125 7,000,000.00 7,000,000.00 6,768,517.00 Stifel Nicolaus&Co Inc. 3/29/2018 FHLB 6/29/2020 2.500 2.473 2,000,000.00 2,000,841.48 1,985,270.00 7 6,000,000.00 15,998,053.15 15,508,661.00 (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 5,889,018.00 Stifel Nicolaus&Co Inc. 4/28/2016 FNMA 10/28/2019 1.400 1.400 1,000,000.00 1,000,000.00 987,972.00 UBS Financial Services 5/26/2016 FNMA 5/25/2021 1.750 1.750 15,000,000.00 15,000,000.00 14,576,775.00 UBS Financial Services 5/26/2016 FNMA 2/25/2020 1.500 1.500 9,000,000.00 9,000,000.00 8,862,570.00 Stifel Nicolaus 8 Co Inc. 5l27/2016 FNMA 11/30/2020 1.500 1.707 4,000,000.00 3,999,113.99 3,894,944.00 UBS Financial Services 7/27/2016 FNMA 7/27/2021 1.550 1.550 6,000,000.00 6,000,000.00 5,784,102.00 41,000,000.00 40,999,113.99 39,995,381.00 (I�FEDERAL FARM CREDIT BANK UBS Financial Services 2/25/2016 FFCB 2/27/2021 1.620 1.649 5,000,000.00 4,997,779.02 4,866,405.00 UBS Financial Services 4/19/2017 FFCB 1/3/2020 1.625 1.625 4,000,000.00 4,000,000.00 3,950,456.00 UBS Financial Services 6/14/2016 FFCB 2/18/2020 1.360 1.360 6,000,000.00 6,000,000.00 5,897,916.00 15,0 0 0,000.0 0 14,9 97,779.02 14,714,777.00 (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 1,916,000.00 Stifel Nicolaus&Co Inc. 11/8/2016 Wells Fargo Bank 5/24/2019 1.750 1.506 6,000,000.00 6,006,878.45 5,964,840.00 UBS Financial Services 4/21/2017 Microsoft 8/8/2019 1.100 1.409 4,000,000.00 3,991,673.08 3,952,584.00 UBS Financial Services 6/29/2017 Toyota 12/29/2020 2.000 2.000 10,000,000.00 10,000,000.00 9,587,280.00 22,000,000.00 21,998,551.53 21,420,704.00 (VI) MONEY MARKET MUTUAL FUNDS(TREASURY) Wells Fargo Bank U.S.T-Note - 2.105 2.105 11,752,278.38 11,752,278.38 11,752,278.38 11,752,278.38 11,752,278.38 11,752,278.38 Portfolio total 11-30-18 123,052,278.38 123,045,776.07 120,691,807.38 PortFolio total 10-31-18 109,363,808.35 109,357,323.74 106,786,956.35 15 Port.5 Investment Transactions November 2018 SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE PURCHASES / DEPOSITS Various dates' Sweep Account ` y- ' :- 2 105%�t+ :2:105% ,.' -'' N/A .< ,_$ 14,065;610.50 °' r$14,065,610 50 9 Various dates L.A.I.F. 2.208% 2.208% N/A $ 9,400,000.00 $9,400,000.00 �� 16 Buy.Se11.5 Investment Transactions November 2018 SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE MATURITIES /WITHDRAWALS / CALLS _ � � � S � �. � � �� :� � , � � � Uanous dates ' � Sweep Account � �� 2105% ��- 21o5°l0 �, � NIA $3 982 U68 44 $3 982 069 44 �� ` �' E � � �:. # n"v _ : : t 5 � � '.d b�».i»:��.:�a 1� •F: � =A'R F k. Various dates L.A.I.F. 2208% 2.208% N/A $5,800,000.00 $5,800,000.00 � � �-,-�.�.�.�„,�,.� ,� �.� � �� -�-��- ;� �� R � � � � � � , � � � � � � � �� xa � ��; �� a � , � _ �; � �� , � � � � � ; � � ; � ,,...,.�x:.wi:..�,.:�*�m�.��...�.,.,.�:.v�...m.>....,....�.;....,�,.:..........., �. l ...,.;a.ma�,.�,,,»a„�.�„d+,uWa...,,x;..-.ia ....�..wn.,.wau�.............._.a:_..,.., *:.�.�..�.H.�rt�,..�x_:,.z..a...,.:.,a�..,,,xa.a..:.rd ,�,�...,. . : _ �-rx�r-r�r-r � � � . �, ; R wy -.r i� �' �4 �. .- , ��. s ��5 � ' ' � �� r' �� S'� � f � � �L � k � �7. - � i ,1 �"x j.. gY ��. .�.;, � ; F y .. , _? ; ��.. ; . »�.«..,e.«..,.a.. ...,.__'"_.___i�c�:...«.._...�......y.__v � .�.._..��._.,...._._ ��m...�.._.��.z.._........v,.,_...�W.z.,.._.w.u.e., � � � s . �.""E,a.q"" T"9 ,�,.,„ . � . . � - � , �. � - d q � � : i �G,� t�r 39 - p. ,� . � '�. � � � . ��' � � 4 Y �. � �� Y � �� . f � ; Y aa � � � '`' : �Ls s� 5" g �. � �g�� g � � 3 S � st.,.c.,...z..m.'�.:�,e,�«��:.:�...�.w.�n..-�.u,�-,�,�a�:=.,.,�,..s,..:..�a. ,,. >.�:,...,m „F...,�,..,,:»»,.:.�.�..»..,F...,�., .,a.�,.:2...m.».,..,a.a3�.:.ic.�.,..a�..,�°v.�.�a,.-.,�,..,,� ..o.,..a,�.,,..,.x...�..z,z�..�......,.m k..�.�.,�- ws.�...,.,.,..n,�.,,..,....�..�....r>.__,..x...�.,..,,e-s;. a 'r `� y � ,. .y� , � �` j a s � ,�,w� �"�"� ' �� 3 � ��€ �� `� i � + � � '� � � .. s .r .�.�c ' 3� f� i 's3 ' ��...3 i '� ��' ' r5' # , ... � � + ', L '`. : �' t . �.t # s � � � '. p 3 .�..� . +r � ,d - .v.3 � �' 17 Buy.Se11.5 City of Orange Investment Porlfolio November 30,2018 Porifolio Performance Measures Portfolio Indexes Rate of Retum: Portfolio Effective Rate of Return-for November 1.76% 2.36% 3 month Treasury--November Average Portfolio Effective Rate of Return-for Fiscal Year-to-date 1.74% 2.51% 6 month Treasury--November Average Portfolio Yield to Maturity at 11/30/2018 1.79% 2.69% 1 year Treasury—November Average Total Rate of Retum: Total Rate of Retum-for November(not annualized) 0.08% 0.35% 1-3 Year Treasury Index--Total Rate of Return for November(not annualized) Total Rate of Return-for 2018 Y-T-D-(not annualized) 2.00% 0.78% 1-3 Year Treasury Index—Total Rate of Return for 2018 Y-T-D(not annualized) Other. Portfolio Weighted-Average Time to Maturity 1.50 Years Market Value as percent of Portfolio, 11/30/18 98.09% Market Value as percent of Portfolio, 10/31/18 97.65% � Federal Agency Securities as percent of Portfolio,11/30118 58.51% Portfolio Effective Rate of Return:interest eamings(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 retum on the portfolio during the period and is not based on daily valuations. 18 1/30/2019 Port.5 11:11 AM City of Orange Investment Portfolio November 30, 2018 Toyota Money Market Microsoft Medium Term Note Mutual Funds Medium Term Note $10.0 8.13% $11.7 9.55/�o $4.0 3.24% Yield 2.000% Yield 2.105/o Local Agency Investment Fund Yield 1.409°/a / ' $17.3 14.06°0% Yield 2.208/o .. �-------�... ti Wells Fargo Bank Medium Term Note Federal Home Loan Bank $6.0 4.88% ` " ` � � $16.0 13.00% Yield 1.506% � Yield 1.902% � � � � ___,_,__� _ � _ .,,�.:;.� - 1 MedlUm Term NOte � �`l`�� {�� ¢�� r � : o �` �� d `�roi � � r t�y� '�,��)� � �� € f $2.0 1.63/o � � } � �i� �� . �� P�°�E�'� �t��t h � � 1 4i % d��9�� ',FI�� YIeII� �.�J.SO�O ��I�� $ �t�z3��ttssg5�� R��a�;«3� i�� f ,It� t��'a't��'�t ¢�t ��i�� y��i i� ��g� ��t��$��i��i`�;��°" �i � �� € � � 3?$ � ��dr' � !� a�s Federal Farm Credit Bank E�� E � �� y� , � �°;;� �� 1 r E,� W� x n�:. Ta p v�, � ( af'� � k tt��?.�+� $ 15.0 12.19% � �� f �[s��'��`�'�i��,��n��`�..'�.t . Yield 1.524% �� ,�� Federal National Mortgage �� Association $41.0 33.32% Yield 1.609% Total Portfolio $123,045,776 Chart Dollar Values in Millions of Dollars 19 City of Orange Investment Portfolio November 30, 2018 Maturity Aging Schedule Maturing in Book Value � 0-1 years 40,050,830 32% 1-2 years 30,999,955 25% 2-3 years 44,994,991 37% 3-4 years 7,000,000 6% 4-5 years 0 0% $123,045,776 100% Weighted-average years to maturity for portfolio = 1.50 $�oo,000,000 $so,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 ' � � � �e;� � � ' $30,000,000 ��,� �� -�� $20,000,000 �� r'�` '�'�'� � - k � � �' R $10,000,000 � ��`'� � r�c $° � § '` �, � �� a�'��',�, :s;. ¢ _ ' a � �. � $' 0-1 years 1-2 years 2-3 years 3�years 4-5 years Matur.5 20 City of Orange Reconciliation of Total Cash and Investments to General Ledger As of November 30, 2018 Treasurer's Operating Cash and Investments Checking, Payroll&PMA -Wells Fargo 216,606 Treasurer's Investments 123,045,776 Cash in transit (9,526,858) 113,735,524 Imprest Cash 12,200 Fiscal Agent Cash and Investments 3,315,280 Total Cash & Investments 117,063,004 Total Cash and Investments per General Ledger � 116,322,043 Plus Outstanding Checks 740,961 Total Cash & Investments . 117,063,004 1 Includes adjustment for month-end timing differences. 21 c�cesn s Atlachment V City of Orange Fiscal Agent Investments As of November 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 79,143 79,143 First American Government Obligation Fund (2.08%) Community Facilities District 91-2 2013 Special Tax Refunding Bonds-U.S. Bank 1,576,939 1,576,939 First American Government Obligation Fund (2.08%) Federal National Mortgage Association (1.25%) Successor Agency 2008A Merged &Amended Tax Allocation Bonds-U.S. Bank 2,572 2,572 First American Government Obligation Fund (2.08%) Federal National Mortgage Association (1.375%) SuccessorAgency 2008B Merged&Amended TaxAllocation Bonds- U.S. Bank 1,978 1,978 First American Government Obligation Fund (2.08%) Federal National Mortgage Association (1.875%) Community Facilities District 06-1 2015 Special Tax Refunding Bonds-U.S. Bank 1,643,793 1,643,793 First American Government Obligation Fund (2.08%) US Treasury Bond (4.375%) Successor Agency 2014A Merged &Amended Tax Allocation Refunding Bonds- U.S. Bank 10,491 10,491 - First American Government Obligation Fund (2.08%) .. Successor Agency Refunding Bonds 201 SA-U.S. Bank 364 364 , First American Government Obligation Fund (2.08%) Total Fiscal Agent Cash and Investments 3,315,280 3,315,280 22 Fiscal.5 3. Investment Report for December 2018 MONTHLY SUMMARY COMPLIANCE CERTIFICATE December 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 =�71,995,110. (B) Total amount allowed (75% of portfolio book value) of all City investments=$92,872,714. Is (A) less than(B) at time of purchase? Yes X No 2. Money Market Mutual Funds (A) Total amount(book value) invested in money market mutual funds by the City=$7,036,805. (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=$22,800,000. (B) Total amount allowed (35% of portfolio book value) of all City investments =$43,340,600. Is (A) less than (B)? Yes X No 4. Commercial Paner (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=$24,766,057. 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=�21,998,370. (C) Total amount allowed (20% of portfolio book value) of all City investments at the time of purchase = $32,399,485. 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 Asreements (A) Does the City have any investment manager or advisor agreements? Yes No X (if no, skip to number 8) 23 (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 under management in excess of$500 million? Yes No N/A X 24 Prepared By: Audited By: _ C C��- o phi�e Chan Rosar o uzman Investment/Revenue Officer Accountant We hereby certify that for the month of December 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 sufficient 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: - . l%,��%uv" /� ��u„�c_�� Richard A. Rohm William M. Kolbow City Treasurer Administrative Services Director DATED: January 30, 2019 25 City of Orange Investment Portfolio December 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 - 2.291 2.291 9,000,000.00 9,000,000.00 9,000,000.00 OSA - 2.291 2.291 13,800,000.00 13,800,000.00 13,800,000.00 22,800,000.00 22,800,000.00 22,800,000.00 (II)FEDERAL HOME LOAN BANK Stifel Nicolaus&Co Inc. 7/27/2016 FHLB 7/27/2021 1.500 1.516 7,000,000.00 6,997,299.17 6,818,833.00 Stifel Nicolaus&Co Inc. 8/30/2017 FHLB 8/26/2022 2.125 2.125 7,000,000.00 7,000,000.00 6,856,864.00 Stifel Nicolaus 8 Co Inc. 3/29/2018 FHLB 6/29/2020 2.500 2.473 2,000,000.00 2,000,797.04 1,994,072.00 16,000,000.00 15,998,096.21 15,669,769.00 (III)FEDERAL NATIONAL MORTGAGE ASSOCIATION Stifel Nicolaus&Co Inc. 4l27/2016 FNMA 4/27/2020 1.450 1.450 6,000,000.00 6,000,000.00 5,916,294.00 Stifel Nicolaus&Co Inc. 4/28/2016 FNMA 10/28/2019 1.400 1.400 1,000,000.00 1,000,000.00 989,834.00 UBS Financial Services 5/26/2016 FNMA 5/25/2021 1.750 1.750 15,000,000.00 15,000,000.00 14,698,290.00 UBS Financial Services 5/26/2016 FNMA 2/25/2020 1.500 1.500 9,000,000.00 9,000,000.00 8,894,925.00 Stifei Nicolaus 8 Co Inc. 5/27/2016 FNMA 11/30/2020 1.500 1.707 4,000,000.00 3,999,150.96 3,921,964.00 UBS Financial Services 7/27/2016 FNMA 7/27/2021 1.550 1.550 6,000,000.00 6,000,000.00 5,840,322.00 41,000,000.00 40,999,150.96 40,261,629.00 (IV)FEDERAL FARM CREDIT BANK UBS Financial Services 2/25/2016 FFCB 2/27/2021 1.620 1.649 5,000,000.00 4,997,862.72 4,903,240.00 UBS Financial Services 4/19/2017 FFCB 1!3/2020 1.625 1.625 4,000,000.00 4,000,000.00 3,964,892.00 UBS Financial Services 6/14/2016 FFCB 2/18/2020 1.360 1.360 6,000,000.00 6,000,000.00 5,922,708.00 15,000,000.00 14,997,862.72 14,790,840.00 (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 1,939,188.00 Stifel Nicolaus&Co Inc. 11/8/2016 Wells Fargo Bank 5/24/2019 1.750 1.506 6,000,000.00 6,005,685.66 5,969,508.00 UBS Financial Services 4/21/2017 Microsoft 8/8/2019 1.100 1.409 4,000,000.00 3,992,684.45 3,960,180.00 UBS Financial Services 6/29/2017 Toyota 12/29/2020 2.000 2.000 10,000,000.00 10,000,000.00 9,659,120.00 22,000,000.00 27,998,370.11 21,527,996.00 (VI) MONEY MARKET MUTUAL FUNDS(TREASURY) Wells Fargo Bank U.S.T-Note - 2.402 2.402 7,036,805.21 7,036,805.21 7,036,805.21 7,036,805.21 7,036,805.21 7,036,805.21 Portfolio total 12-31-18 123,836,805.27 123,830,285.21 122,087,039.21 Portfolio total 11�0-18 123,052,278.38 123,045,776.07 120,691,801.38 26 Port.6 " Investment Transactions December 2018 SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE PURCHASES / DEPOSITS -.� �. , -�~ �,�� , � � x Uarrous dates ,,, Sweep A�count �� , � �� 2 402% 2�4Q2% �,,� 'N/A $ 2Q 327 873 65�� $20 327 873 65 � � � s� � � x , � �- 3 � �a s ' a ' `§ ,3 �� 5 �' . ; � � � . . a��, ..;m'i ..: .�.._E, "i .��_��i� �...'�, m �� .i...�.. � ., , �� , . � .�.�...��'�-,.a�+,`,."...�...� . ._�C`.w....Lw..�. i< ...�,..,�. . ''� _. . .� �v�.-av 12/20/2018 L.A.I.F. 2.291% 2.291% N/A $ 10,000,000.00 $10,000,000.00 �^ _��,��,,�� , � � �� ' � 7 � _ 3 , Sa p � i J 1 a �E: � r� 'z . � �: �; kt �. - 9.��t� ., ; � � a P � k� � � � �� €. � 4 �' 3� ��. ,1�3 _ : mr�4w ��' `�d..`:�iav�yam<a.m.—...:..+'r�..«w,«z.«�vw.mae...w...3...z.e�@.`«aE.m.�,d.+dmwea»m€w` �.»..,� 3••. .wcm.wt.mmars.em.�e..w.mma::.wwn�ran5w.u�.wae�r..r.mC.v.arswmww .wac+�.w.vv'�.t.w¢r.wdu-.a:e�w�m.arMx+va��:r�.....�.�:., ^j .Y" S' ; a'=�I . - 6fr � � 3:``'On ' N. � `� - egs . 'i a..„ ' � �; s s r � z � � a �� + "'.a5 .:=s ..� e� � ; '�s � 3 '� - �. ;; a��. � ,g a f -z s,, 3 a t € �^� 3 .� yi-� a� aa s � �x �� . ' i �� e: � �3 � ga �. ra �-� � �s i � � Y � � ai .l S � z � t �� 3 r ,� _ .,.�..�,'.:a.,,_.......,.�w�.,,..�._1.�.,;...,�,.. � ,_�._..._....,.x,z�.:��.�..�. .�.�.:.,,,�,.,..,,,.,,,.....,,..�,....�,.�a ..�... .....»:�_,..,A,,.,�.....,x,,,,.n.�.,..m.,'�> �.,,...,,�.,,.,' .,.....,,..o:..,=.,x.�..„�.a,....->rz.,�::�x,::�,:._��,a..a..m:,...�.�...��.,,,�::�..�..,.:��.;�'_. , a _�— < < �„�.� _ v a : ""� }� � - �- '�� - i � �. j a� - � � e 3 � 6 ." � a k � � �, � ' �' � � �a � � �� x 3 � � sa R,., g»y k "5 �.k d h x �-f + � ; S s j 6 ' -� ,:.3� ....,,» .�.. .. 2,:�a ,a, ...,:�...e e,.d., ...�. . _,. ,.,4'"'a - ��.s .. �,. . ' �� 4 4 27 Buy.Sell.6 Investment Transactions December 2018 SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE MATURITIES /WITHDRAWALS / CALLS � e : .. -- �� •. � ; �� Various dates Y; � Sweep Account ;F �. ,' 2 402%;... 2.402% "` N/A `' $25 048,213 58 KK$25 048;213 58 .'3;' �, .. _.. � _ �.., ., w� �, . ,� . 2� t 12/14/2018 L.A.I.F. 2.291% 2.291% N/A $4,500,000.00 $4,500,000.00 o>; . ,�< ,: , � �. �-�- �-_--�----�---�-. � � � �a r 6 ""__��"`..t � "^:t` .r. . �: t "e 3 _ yt � . m.a.—m+�..^r�-��_ �.._„—;'° _ _ S di a , - .. r.� ,.. , , � �� 3 ' g t � , > t , � � ,. .- ; , . ` < _ , �'_ ... 5' �.�. .. .: `,s . .�e , k.�'. - ..a p e . , .. . ,.m. t' �}' ...m�w...+..:�.rn.mv�w..�aewra.... ...«_«..:�....a..+..,....=n... ..Y ,..�.�..v:mw��.�.. .-....�_.wvaw.m.xre �: �� v � 28 Buy.Sell.6 City of Orange Investment Portfolio December 31, 2018 Portfolio Performance Measures Portfolio Indexes Rate of Return: Portfolio Effective Rate of Return-for December 1.64% 2.39% 3 month Treasury--December Average Portfolio Effective Rate of Return-for Fiscal Year-to-date 1.73% 2.53% 6 month Treasury--December Average Portfolio Yield to Maturity at 12/37/2018 1.83% 2.65% 1 year Treasury—December Average Total Rate of Retum: Total Rate of Return-for December(not annualized) 0.60% 0.77% 1-3 Year Treasury Index--Total Rate of Return for December(not annualized) Total Rate of Return-for 2018 Y-T-D-(not annualized) 2.58% 1.57% 1-3 Year Treasury Index--Total Rate of Return for 2018 Y-T-D(not annualized) Other. Portfolio Weighted-Average Time to Maturity 1.42 Years Market Value as percent of Portfolio, 12/31/18 98.59% Market Value as percent of Portfolio, 11/30/18 98.09% Federal Agency Securities as percent of Portfolio,12/31/18 58.14% 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 Retum: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 Dietr Method assumes a wnstant rate of retum on the portfolio during the period and is not based on daily valuations. 29 Port.6 1/30/2019 11:24 AM City of Orange Investment Portfolio Decem ber 31 , 2018 Microsoft Toyota Medium Term Note Medium Term Note $4.0 3.22% $10.0 8.08/o Money Market Wells Fargo Bank Yield 1.409% Yield 2.000% Mutual Funds Medium Term Note / $7.0 5.68°/a $6.0 4.85% Yield 2.402% Yield 1.506% Local Agency Investment Fund , ----..._..,�., ' $22.8 18.41% Yield 2.291% Apple , Medium Term Note . $2.0 1.62% Yield 1.550% � _,,, � � ; ' a � � Federal Home Loan Bank �� r��ti ��' tE 1�,� � � $16.0 12.92% Federal Farm Credit Bank � � , ��``� ��,�,3 �� ' ��, ��,' C�y , Yield 1.902% � a � � ,� , lr�� ,�- $15.0 12.11% � ��j�,,E G�}ts3�� ;��; � �I ��''� �� i'�',�1�� ,•:. Yield 1.524/0 � �j� �¢j ° � ' �� ,��z��y; � � � � � �� ,g}[� �� R�i S! .,�4��.� '��19��€� ��4�� ,�tE�� 3°j�� E� jk � ��4 K#��S��j4�t 6� �"�i _ � „ �� ,g��t �b;��°�g��t}�iB "�i��i�lt�'��1t! � � ��¢p �a� � �,� f�z9� � . :' �� ' �� `�� i��+�IA`k�(r� €��r ��' � .c�`�i��t, , �� "$ rt} ��F 4 5 � '. �'` � �,1i:� �k„ � . �� ai FE;� t-j _f{tt'i K �� y �� , Federal National Mortgage � Association $41.0 33.11% Yield 1.609% Total Portfolio $123,830,285 Chart Dollar Values in Millions of Dollars 30 City of Orange Investment Portfolio December 31, 2018 Maturity Aging Schedule Maturing in Book Value 0-1 years 40,835,175 33% 1-2 years 40,999,948 33% 2-3 years 34,995,162 28% 3-4 years 7,000,000 6% 4-5 years 0 0% $123,830,285 100% Weighted-average years to maturity for portfolio = 1.42 $100,000,000 $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 �� a � tiq ; t� ,�F^�. ��6 °�C�irl ,,rc�� ks Y�'� 3: $30,000,000 � � � �" ,� 'w ��"a �v � �a$ .a�. � � "�" � d�� a � �� , .��. �� &k S £ � . �2�� 9�3 �°�: d s 'SwBs � '' ��C � � �� da� � � a �^ �� $10,000,000 �� g ;, ,�� ; �x��'��: �� ''�s ,� � ��'�; � ��;� � ��'�� `�r�.,�.�A ,�,e m �, �_ �,.�,�. 0-1 years 1-2 years 2-3 years 3�years 4-5 years 31 Matur.6 City of Orange Reconciliation of Total Cash and Investments to General Ledger As of December 31, 2018 Treasurer's Operating Cash and Investments Checking, Payroll&PMA -Wells Fargo 177,346 Treasurer's Investments 123,830,285 Cash in transit (264,587) 123,743,044 Imprest Cash 12,200 Fiscal Agent Cash and Investments 3,315,589 Total Cash & Investments 127,070,833 Total Cash and Investments per General Ledger ' 126,654,817 Plus Outstanding Checks 416,016 Total Cash & Investments 127,070,833 1 Includes adjustment for month-end timing differences. 32 GL Cash 8 Attac�menl V City of Orange Fiscal Agent Investments As of December 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 79,278 79,278 First American Government Obligation Fund(2.17%) Community Facilities District 91-2 2013 Special Tax Refunding Bonds-U.S. Bank 1,576,972 1,576,972 First American Government Obligation Fund (2.17%) Federal National Mortgage Association (1.25%) Successor Agency 2008A Merged &Amended Tax Allocation Bonds- U.S. Bank 2,428 2,428 First American Government Obligation Fund (2.17%) Federal National Mortgage Association (1.375%) Successor Agency 2008B Merged &Amended Tax Allocation Bonds-U.S. Bank 1,981 1,981 First American Government Obligation Fund (2.17%) Federal National Mortgage Association (1.875%) Community Facilities District 06-1 2015 Special Tax Refunding Bonds-U.S. Bank 1,644,057 1,644,057 First American Government Obligation Fund (2.17%) US Treasury Bond (4.375%) Successor Agency 2014A Merged &Amended Tax Allocation Refunding Bonds-U.S. Bank 10,509 10,509 First American Government Obligation Fund (2.17%) .. Successor Agency Refunding Bonds 2018A- U.S. Bank 364 364 First American Government Obligation Fund (2.17%) _ Total Fiscal Agent Cash and Investments 3,315,589 3,315,589 33 Fiscal.6 CITY COUNCIL MINUTES FEBRUARY 12, 2019 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 January 4, 10, 18,24, and February 1,2019. ACTION: Approved. 3.2 City Council Minutes, Regular Meeting of December 11,2018, and January 8,2019. ACTION: Approved. 3.3 Waive reading in full of all ordinances on the Agenda. ACTION: Approved. 3.4 Monthly Treasurer's Reports for October,November,and December 2018.(C2500.F) ACTION: Received and filed. , 3.5 City Traffic Commission Activity Report for 2018. (OR1800.0.19) ACTION: Received and filed. 3.6 Amendment No. 1 to Cooperative Agreement No. C-3-2007 by and between Orange County Transportation Authority, County of Orange, and the Cities of Orange and Tustin for the implementation of the Newport AvenueBoulevard (North) Project funded as part of the Measure M2 Regional Traffic Signal Synchronization Program. (A2100.0; Agr-6058.1) ACTION: Approved Amendment No. 1 to Cooperative Agreement C-3-2007 and authorized the Mayor and City Clerk to execute on behalf of the City. 3.7 Amendment No. 1 to Cooperative Agreement No. C-3-2084 by and between Orange County Transportation Authority and the Cities of Placentia, Anaheim, Brea, Orange, and Santa Ana for the implementation of the Kraemer Boulevard/Glassell Street/Grand Avenue Project funded as part of the Measure M2 Regional Traffic , Signal Synchronization Program. (A2100.0; Agr-6070.1) ACTION: Approved Amendment No. 1 to Cooperative Agreement C-3-2084 and authorized the Mayor and City Clerk to execute on behalf of the City. 3.8 Amendment No. 1 to Cooperative Agreement No. C-3-2085 by and between Orange County Transportation Authority and the Cities of Anaheim and Orange for the implementation of the State College Boulevard Project funded as part of the Measure M2 Regional Traffic Signal Synchronization Program. (A2100.0; Agr-6071.1) ACTION: Approved Amendment No. 1 to Cooperative Agreement C-3-2085 and authorized the Mayor and City Clerk to execute on behalf of the City. PAGE 3