03.04 Treasurer Report January-March 2019 4�F"��9
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May 14, 2019
TO: Honorable Mayor and Members of the City Council
THRU: Rick Otto, City Manager
FROM: Richard A. Rohm, City Treasurer���;��f�`�a�"'�"�,�
William M. Kolbow, Administrative Services Director !✓,;.j���
REVIEW: City Mana r Finance ��
1. SUBJECT
Monthly Treasurer's Reports for January, February, and March 2019.
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 3• �'�' � 05/14/2019
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 @ 12/31/2018 $123,743,045
Monthly Activity:
Cash Received 48,339,401
Cash Disbursed (44,798,675)
Balance @ 3/31/2019 $127,283,771
�1>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 January 2019
The January cash receipts exceeded cash disbursements by $2,532,604. The City
received $7,468,060 in property tax ($3,417,223 for the City and $4,050,837 as property
tax increment collected for the Successor Agency), $6,794,203 in property tax in lieu of
vehicle license fee, and $2,712,840 in sales tax revenue. During the month, large
disbursements included payments totaling $5,482,970 to Orange County Water District
for pumping assessments, $1,760,342 to PERS for employee benefits, $648,372 to All
American Asphalt for street improvements, $457,588 to Morillo Construction for Shaffer
Park renovation, $397,068 to International Line Builders for converting the City owned
streetlights to LED fixtures, and $368,027 to Municipal Water District of Orange County
for purchased water.
In the month of January, no investments were purchased, matured or were called. The
City's balance in L.A.I.F. on January 31 was $29,800,000 or an increase of $7,000,000
due to cash receipts exceeding cash disbursements during the month.
For the month of February 2019
The February cash receipts exceeded cash disbursements by $419,677. The City
received $4,831,923 in in sales tax revenue. During the month, large disbursements
included payments totaling $1,614,551 to PERS for employee benefits, $980,215 to U.S.
Bank for debt service, $703,895 to Morillo Construction for Shaffer Park renovation, and
$178,572 to Big Ben Engineering for UCI Medical Center water improvements.
In the month of February, no investments were purchased, matured or were called. The
City's balance in L.A.I.F. on February 28 was $30,000,000 or an increase of $200,000
due to cash receipts exceeding cash disbursements during the month.
ITEM 2 05/14/2019
For the month of March 2019
The March cash receipts exceeded cash disbursements by $588,445. The City received
$3,718,743 in sales tax revenue and $1,856,408 in property tax revenue. Large
disbursements included payments totaling $1,607,897 to PERS for employee benefits,
$965,281 to U.S. Bank for debt service, $578,818 to International Line Builders for City
owned streetlights LED conversion, $432,668 to the California State Department of
Health Care Services (DHCS) for a reimbursable advance to obtain additional federal
Medicaid dollars for unreimbursed ambulance transport services, and $287,939 to
SoftwareONE for renewal of Microsoft software licenses.
In the month of March, no investments were purchased, matured or were called. The
City's balance in L.A.I.F. on March 31 was $29,500,000 or a decrease of $500,000 due
to cash flow needs for disbursements issued on March 29 and cleared in early April.
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 May 8, 2019 while the next quarterly Committee
meeting is to be scheduled for August 2019.
7. ATTACHMENTS
1. Investment Report for January 2019
2. Investment Report for February 2019
3. Investment Report for March 2019
ITEM 3 05/14/2019
MONTHLY SUMMARY COMPLIANCE CERTIFICATE
January 2019
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 =$71,995,274.
(B) Total amount allowed(75% of portfolio book value) of all City investments=$95,007,333.
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= $2,882,982.
(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=$29,800,000.
(B) Total amount allowed (35% of portfolio book value) of all City investments =$44,336,756.
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 =$25,335,289.
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=$21,998,189.
(C) Total amount allowed (20% of portfolio book value) of all City investments
at the time of purchase =$25,335,289.
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)
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. 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
2
Prepared By: Audited By:
�_�p.y�-- �
J ephine han os io zman .
Investment/Revenue Officer Accountant
We hereby certify that for the month of January 2019, 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:
� � ,Q-�?dG►�-- � �/�
Richard A.Rohm William M. Kolbow
City Treasurer Administrative Services Director DATED: Apri130, 2019
3
City of Orange Investment Portfolio
January 31,2019
(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 - 2.355 2.355 14,000,000.00 14,000,000.00 14,000,000.00
OSA - 2.355 2.355 15,800,000.00 15,800,000.00 15,800,000.00
29,800,000.00 29,800,000.00 29,800,000.00
(II)FEDERAL HOME LOAN BANK
Stifel Nicolaus&Co Inc. 7/27/2016 FHLB 7/27/2021 1.500 1.516 7,000,000.00 6,997,386.67 6,831,055.00
Stifel Nicolaus,&Co Inc. 8/30/2017 FHLB 8/26/2022 2.125 2.125 7,000,000.00 7,000,000.00 6,869,443.00
Stifel Nicolaus&Co Inc. 3/29/2018 FHLB 6/29/2020 2.500 2.473 2,000,000.00 2,000,752.59 1,995,502.00
16,000,000.00 15,998,139.26 15,696,000.00
(111)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 5,921,652.00
Stifel Nicolaus&Co Inc. 4/28/2016 FNMA 10/28/2019 1.400 1.400 1,000,000.00 1,000,000.00 991,511.00
UBS Financial Services 5/26/2016 FNMA 5/25/2021 1.750 1.750 15,000,000.00 15,000,000.00 14,698,095.00
UBS Financial Services 5/26/2016 FNMA 2/25/2020 1.500 1.500 9,000,000.00 9,000,000.00 8,903,835.00
Stifel Nicolaus&Co Inc. 5/27/2016 FNMA 11/30/2020 1.500 1.707 4,000,000.00 3,999,187.92 3,929,064.00
UBS Financial Services 7/27/2016 FNMA 7/27/2021 1.550 1.550 6,000,000.00 6,000,000.00 5,849,196.00
41,000,000.00 40,999,187.92 40,293,353.00
(IV)FEDERAL FARM CREDIT BANK
UBS Financial Services 2/25/2016 FFCB 2/27/2021 1.620 1.649 5,000,000.00 4,997,946.43 4,908,615.00
UBS Financial Services 4/19/2017 FFCB 1/3/2020 1.625 1.625 4,000,000.00 4,000,000.00 3,965,688.00
UBS Financial Services 6/14/2016 FFCB 2/18/2020 1.360 1.360 6,000,000.00 6,000,000.00 5,923,410.00
15,000,000.00 14,997,946.43 14,797,713.00
(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 1,947,114.00
Stifel Nicolaus&Co Inc. 11/8/2016 Wells Fargo Bank 5/24/2019 1.750 1.506 6,000,000.00 6,004,492.86 5,982,468.00
UBS Financial Services 4/21/2017 Microsoft 8/8/2019 1.100 1.409 4,000,000.00 3,993,695.82 3,970,892.00
UBS Financial Services 6/29/2017 Toyota 12/29/2020 2.000 2.000 10,000,000.00 10,000,000.00 9,368,510.00
22,000,000.00 21,998,188.68 21,268,984.00
(VI) MONEY MARKET MUTUAL FUNDS(TREASURY)
Wells Fargo Bank U.S.T-Note - 2.253 2253 2,882,982.32 2,882,982.32 2,882,982.32
2,882,982.32 2,882,982.32 2,882,982.32
Portfolio total 1-31-19 126,682,982.32 126,676,444.61 124,739,032.32
� Portfolio total 12-31-18 723,836,805.21 123,830,285.21 122,087,039.21
4
Port.7
Investment Transactions
January 2019
SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE
PURCHASES / DEPOSITS
Various dates Sweep Accounf ` 2.253% � , .- 2.253% ' N/A $ 21,297,294'82 $21,29T;294:82,'
Various dates L.A.I.F. 2.355% 2.355% N/A $ 18,588,185.70 $18,588,185.70
5
Buy.Sell.7
Investment Transactions
January 2019
SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE
MATURITIES/WITHDRAWALS/ CALLS -
Various dates -- - , Sweep Account =, � . � 2:253%�:� ,. 2.253°/a N/A�: ''$25,458;520.72 $25 458,52072':, `
Various dates L.A.I.F. 2.355% 2.355% N/A $11,588,185.70 $11,588,185.70
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Buy.Seil.7
City of Orange Investment Portfolio
January 31,2019
Portfolio Performance Measures
� Portfolio Indexes
Rate of Return:
Portfolio Effective Rate of Return-for January 1.78% 2.41% 3 month Treasury--Janaury Average
Portfolio Effective Rate of Return-for Fiscal Year-to-date 1.75% 2.50% 6 month Treasury--January Average
Portfolio Yield to Maturity at 1/31/2019 1.85% 2.58% 1 year Treasury--January Average
Total Rate of Return:
Total Rate of Return-for January(not annualized) -0.16% 0.27% 1-3 Year Treasury Index--Total Rate of Return for January(not annualized)
Total Rate of Return-for 2019 Y-T-D-(not annualized) -0.16% 0.27% 1-3 Year Treasury Index--Total Rate of Return for 2019 Y-T-D(not annualized)
Other:
Portfolio Weighted-Average Time to Maturity 1.33 Years
Market Value as percent of Portfolio, 1/31/19 98.47%
Market Value as percent of Portfolio, 12/31/18 98.59%
Federal Agency Securities as percent of Portfolio,1/31/19 56.83%
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.
7 4/29/2019
Port.7
4:38 PM
City of Orange investment Portfolio
January 31 , 2019
Microsoft Toyota � � �
Medium Term Note Medium Term Note Money Market
$4.0 3.15% $10'� �'89% Mutual Funds
Wells Fargo Bank Yield 1.409% Yield 2.000% $2.9 2.28%
Medium Term Note Yield 2.253%
$6.0 4.74% / Local Agency Investment Fund
Yield 1.506% ' $29.$ 23.52%
,,,,� ,
Yield 2.355%
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App { �
le ��Jx�, : � " �, ��� � '
MediumTermNote '' `�, ,�, y� ��� , r��� ` ;�; �j '�� ��
$2.0 1.58% , , � ,� ti�t ��� "� , , �>.�,,
Yield 1.550% � � ; �t4 ��, � � �. �"��a
:�a.� � � a ° � y.�° w � �"a+r� :c*� ��;-..,
} $
— t<$ ..` k r� '` 1.: t.,,
Federal Farm Credit Bank ' ' � - ` "
$ 15.0 11.84% � � �a „ ` ;"f� t� ��:
o a ��������'����;b��_ � , Federal Home Loan Bank
� ;,��� ;f#�#�$�''��5�����x¢� , c� t � $16.0 12.63%
Yield 1.524/o � ������������fi`�s ����f ��������;������� � �������k����� ����
����5�� �}j���y�,5�� ����� � r������}���� ���_� �� � ., ��� � g�� � Yield 1.902%
{ Rgp��� �
}4 �¢� � ��� �� � p� �� �( t {��, ' �� ���
�ii �j'�.q � �'�$I) ��q' � £'.' `�i �4� q ' � S � �@y r�{�$�@y+�y.� .
,� p � f�� } �
k ,. � � '�#3"���(������ ���# :����".�� }�'���nriR�"��.0 ,�� �:��q����d��� �'d�E+9"�dytb
�g ''����a,t 'r�..� � , � ��x �j�}; �� �.. '+°dPis ��� kg�:��.
`�r.:...��.' ubq��..�t � '.�:��, � :�. �t �t;�.a�f� ���}��.�kt '� .bt'�l�l�n ..
�� _ � ��� ��;`� : � ��� � ."� °� -t'c�:�}��,��x.r�
�� �,<�����s,���`s��w��.��3�����?x��f��#��Ng,.#
Federal National Mortgage
Association
$41.0 32.37%
Yield 1.609%
Total Portfolio $126,676,445
Chart Dollar Values in Millions of Dollars
8
City of Orange Investment Portfolio
January 31, 2019
Maturity Aging Schedule
Maturing in Book Value
0-1 years 47,681 ,171 37%
1-2 years 36,999,941 29%
2-3 years 34,995,333 28%
3-4 years 7,000,000 6%
4-5 years 0 0%
$126,676,445 100%
Weighted-average years to maturity for portfolio = 1.33
$100,000,000
$90,000,000
$80,000,000
$70,000,000 ,
$60,000,000
$50,000,000
� � �
�4��00��0�0 �µ ���SY�� �fJ S
. �ix 9,y� -.y=,
$30,000,000 �
t� r�,,v r�r�� � �,)P a,, ;4;
@ �� ����� �' ,�i' t r
W2O�000�000 �ra'` � - r,
�w '�,;.
�j R f•
��O�oo��000 ��y � �d✓�' � �5
P �"y),� : "wN'v�� 1 N';. `t"F ..14;� l .
��"'t p✓ b ��,� ,N ��.��1,a � A r i,. , r . d . �
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� �."k�9Ka��� d i��..' 84'M1*�)�r;y.
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0-1 years 1-2 years 2-3 years 3-4 years 4-5 years
9
Matur.7
City of Orange
Reconciliation of Total Cash and
Investments to General Ledger
As of January 31, 2019
Treasurer's Operating Cash and Investments
Checking, Payroll&PMA -Wells Fargo 223,161
Treasurer's Investments 126,676,445
Cash in transit (623,956) 126,275,650
Imprest Cash 12,200
Fiscal Agent Cash and Investments 3,351,093
Total Cash & Investments 129,638,943
Total Cash and Investments per General Ledger � 129,547,530
Plus Outstanding Checks 91,413
Total Cash & Investments 129,638,943
1 Includes adjustment for month-end timing differences. 1� GL Cash 7
Attachment V
City of Orange
Fiscal Agent Investments
As of January 31, 2019
Market or
Carrying Contract
Value Value
Fiscal Agent Cash and Investments
Assessment District 95-1 1996 Limited Obligation Improvement Bonds- U.S. Bank 79,424 79,424
First American Government Obligation Fund (2.29%)
Community Facilities District 91-2 2013 Special Tax Refunding Bonds-U.S. Bank 1,577,010 1,577,010
First American Government Obligation Fund (2.29%)
Federal National Mortgage Association (1.25%)
Successor Agency 2008A Merged&Amended Tax Allocation Bonds= U.S. Bank 2,432 2,432
First American Government Obligation Fund (2.29%)
Federal National Mortgage Association (1.375%)
Successor Agency 2008B Merged &Amended Tax Allocation Bonds-U.S. Bank 1,985 1,985
First American Government Obligation Fund (2.29%)
Federal National Mortgage Association (1.875%)
Community Facilities District 06-1 2015 Special Tax Refunding Bonds- U.S. Bank 1,644,342 1,644,342
First American Government Obligation Fund (2.29%)
US Treasury Bond (4.375%)
Successor Agency 2014A Merged&Amended Tax Allocation Refunding Bonds- U.S. Bank 10,528 10,528
First American Government Obligation Fund (2.29%)
.. Successor Agency Refunding Bonds 2018A-U.S. Bank 35,372 35,372
First American Government Obligation Fund (2.29%)
Total Fiscal Agent Cash and Investments 3,351,093 3,351,093
11
Fiscal.7
MONTHLY SUMMARY COMPLIANCE CERTIFICATE
February 2019
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 =$71,995,437.
(B) Total amount allowed(75% of portfolio book value) of all City investments=$95,011,374.
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=$2,688,387.
(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=$30,000,000.
(B) Total amount allowed(35% of portfolio book value) of all City investments= $44,338,641.
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 a11 City investments=$25,336,366.
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= $21,998,007.
(C) Total amount allowed(20% of portfolio book value) of all City investments
at the time of purchase = $25,336,366.
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 Management Agreements
(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. 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
13
Prepared By: Audited By:
_ �Q,�.�,
c� �,���.
ephin` Chan Rosari Guzman
InvestmentlRevenue Officer Accountant
We hereby certify that for the month of February 2019, 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:
/ 2
Richard A. Rohm William M.Kolbow
City Treasurer Administrative Services Director DATED: Apri130,2019
14
City of Orange Investment Portfolio
February 28,2019
(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 - 2.392 2.392 17,300,000.00 17,300,000.00 17,300,000.00
OSA - 2.392 2.392 12,700,000.00 12,700,000.00 12,700,000.00
30,000,000.00 30,000,000.00 30,000,000.00
(II)FEDERAL HOME LOAN BANK
Stifel Nicolaus&Co Inc. 7/27/2016 FHLB 7/27/2021 1.500 1.516 7,000,000.00 6,997,474.17 6,829,417.00
Stifel Nicolaus&Co Inc. S/30/2017 FHLB 8/26/2022 2.125 2.125 7,000,000.00 7,000,000.00 6,864,522.00
Stifel Nicolaus&Co Inc. 3/29/2018 FHLB 6/29/2020 2.500 2.473 2,000,000.00 2,000,708.15 1,994,352.00
16,000,000.00 15,998,182.32 15,688,291.00
(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 5,924,262.00
Stifel Nicolaus&Co Inc. 4/28/2016 FNMA 10/28/2019 1.400 1.400 1,000,000.00 1,000,000.00 992,513.00
UBS Financial Services 5/26/2016 FNMA 5/25/2021 1.750 1.750 15,000,000.00 15,000,000.00 14,718,345.00
UBS Financial Services 5/26/2016 FNMA 2/25/2020 1.500 1.500 9,000,000.00 9,000,000.00 8,910,216.00
Stifel Nicolaus&Co Inc. 5/27/2016 FNMA 11/30/2020 1.500 1.707 4,000,000.00 3,999,224.89 3,927,360.00
UBS Financial Services 7/27/2016 FNMA 7/27/2021 1.550 1.550 6,000,000.00 6,000,000.00 5,848,584.00
41,000,000.00 40,999,224.89 40,321,280.00
(IV)FEDERAL FARM CREDIT BANK
UBS Financial Services 2/25/2016 FFCB 2/27/2021 1.620 1.649 5,000,000.00 4,998,030.13 4,909,735.00
UBS Financial Services 4/19/2017 FFCB 1/3/2020 1.625 1.625 4,000,000.00 4,000,000.00 3,970,352.00
UBS Financial Services 6/14/2016 FFCB 2/18/2020 1.360 1.360 6,000,000.00 6,000,000.00 5,932,866.00
15,000,000.00 14,998,030.13 14,812,953.00
(V)MEDIUM TERM NOTE
UBS Financial S�rvices 10/5/2016 Apple 8/4/2021 1.550 1.550 2,000,000.00 2,000,000.00 1,946,698.00
Stifel Nicolaus&Co Inc. 11/8/2016 Wells Fargo Bank 5/24/2019 1.750 1.506 6,000,000.00 6,003,300.07 5,988,120.00
UBS Financial Services 4/21/2017 Microsoft 8/8/2019 1.100 1.409 4,000,000.00 3,994,707.18 3,975,964.00
UBS Financial Services 6/29/2017 Toyota 12/29/2020 2.000 2.000 10,000,000.00 10,000,000.00 9,513,480.00
22,000,000.00 21,998,007.25 21,424,262.00
(VI) MONEY MARKET MUTUAL FUNDS(TREASURY)
Wells Fargo Bank U.S.T-Note - 2.257 2.257 2,688,387.35 2,688,387.35 2,688,387.35
2,688,387.35 2,688,387.35 2,688,387.35
Portfolio total 2-28-19 126,688,387.35 126,681,831.94 124,935,173.35
Portfolio total 1-31-19 126,682,982.32 126,676,444.61 124,739,032.32
15
Port.8
Investment Transactions
February 28, 2019
SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE
PURCHASES/ DEPOSITS
• Various dates : Sweep Account 2.257% ` 2.257% N/A `:$ ,,8,079,277.42 $8,079;277:42 .
Various dates L.A.I.F. 2.392% 2.392% N/A $ 4,600,000.00 $4,600,000.00
Buy.Sell.B 16
Investment Transactions
February 28, 2019 ,
SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE
MATURITIES /WITHDRAWALS/ CALLS
Various dates . Sweep Account.' 2.257%�. 2.257% , N/A. i. $8;281,905,17 ' .$8,281,905 17 :. �
Various dates L.A.I.F. 2.392% 2.392% N/A $4,400,000.00 $4,400,000.00
. .
_: . .
._ __.. .... _.. ;�� _�� . _.�__ .__,.�_�.� .___ _ � �
_� ._ . ���.:. u�.�.._:....._. �_:..:. . . _. _. �_:, ... .. _: __ _ . . :..__ __._. ...__ � „. ,._ .. _ _. _
, .. — ,
,.., .
:.., ,.. : . ,
, . .. , . .. . . .-� _ � , , - , . f:' .
Buy.Sell.B �7
City of Orange Investment Portfolio
February 28, 2019
Portfolio Performance Measures
Portfolio Indexes
Rate of Return:
Portfolio Effective Rate of Return-for February 1.93% 2.42% 3 month Treasury--February Average
Portfolio Effective Rate of Return-for Fiscal Year-to-date 1.77% 2.50% 6 month Treasury--February Average
Portfolio Yield to Maturity at 2/28/19 1.85% 2.54% 1 year Treasury--February Average
Total Rate of Return:
Total Rate of Return-for February(not annualized) . 0.14% 0.10% 1-3 Year Treasury Index--Total Rate of Return for February(not annualized)
Total Rate of Return-for 2019 Y-T-D-(not annualized) -0.03% 0.37% 1-3 Year Treasury Index--Total Rate of Return for 2019 Y-T-D(not annualized)
Other:
Portfolio Weighted-Average Time to Maturity 1.27 Years
Market Value as percent of Portfolio,2/28/19 98.62%
�Market Value as percent of Portfolio, 1/31/19 98.47%
Federal Agency Securities as percent of Portfolio,2/28/19 56.83%
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.
18
4/30/2019
Port.a
10:54 AM
City of Orange Investment Portfolio
February 29, 2019
Microsoft Toyota Money Market
Medium Term Note Medium Term Note Mutual Funds
$4.0 3.15% $10.0 7.89% $2.7 2.12%
Yield 1.409% Yield 2.000% Yield 2.257%
Wells Fargo Bank / Local Agency Investment Fund
Medium Term Note $30.0 23.68%
$6.0 4.74% /
Yield 1.506%
�,.....---~ ��� � � g Yield 2.392%
\ � 4
R p
App�e , "
r ;
Medium Term Note `� � "
$2.0 1.58% � � '-
Yield 1.550% `� ` y, -
x ` -._^ . � � Federal Home Loan Bank
, '�; , z , , g �,s �u���`g�`�������i�� $16.0 12.64%
Federal Farm Credit Bank , #�y��� �� �"� � ��f��,g���� � ' � �
� t �t y�4? r� � � >� �$��r � �{��j;������t�ti�e� : Yleld 1.902/o
o ' t�k�o � `If�"��#!3� � €�� � � +���" t�{t�'£tP 3 �3 �
$ 15.0 11.84/o ��L;� ��z�+#(�� � � �t�z{. � #���a,�f� y, �3����g���f �� � `
o �^.�1� �r,��i � �� �� ¢ ���� % � ���r�� ��4 �s�F�Y��yf t# t}��� s,e���s �
Yield 1.524/o � "q����� � �1� ��� .f� �q ���� ��a�g�{� �a���;x ��(������� �(, �i`��•�.���,�����
� ��'�` �iiia��� ���+��'3���� ����Ri �� a��j�.��Sr�j�xk����3�$t}"{ $���4� �}„�'gC�kr�ty33 p��,tVrEi�,
A i ��.� . .3,j...� ��t�..�,. .i� S.j.��p.Y� d�.��-.[�k.a�y d ' � � 3�.�.�,. 1. F. �:�t$$X".
s i � � � 3 ° � F j �� � £�3P�X ��� f f��li i}�i S `ky�( �Y43�p�
���G+ ��� ������u�������������i��t� �'4����t��l�+����"t���x r�� ��°g��2�1�i;�4�,�#af 3t�y�r�
,�t���`+��� .�.a�s�fiJ��j����ii�a 3�d��e��t � ��€'����#y�ai�z�i$��� �,�`�
i
��`���� i��,z,�;�cn�lY���a�it��a�'���������rs�#a,�+�tta,3.1M ,x
� ` Federal National Mortgage
Association
$41.0 32.36%
Yield 1.609%
,
7
Total Portfolio $126,681 ,832
Chart Dollar Values in Millions of Dollars
19
City of Orange Investment Portfolio
February 28, 2019
Maturity Aging Schedule
Maturing in Book Value
0-1 years 62,666,395 49%
1-2 years 26,997,963 21%
2-3 years 29,997,474 24%
3-4 years 7,000,000 6%
4-5 years 0 0%
$126,661 ,832 100%
Weighted-average years to maturity for portfolio = 1.27
$100,000,000
$90,000,000
$80,000,000
$70,000,000
$60,000,000 ���x��t���4 � x
�� ��a��i�
�
$50,000,000 � *�`�'r�v ,� ���;�
t�, � ..� +,
4;
n ,� a f �,+ c i
d p
i " ?`
$40,000,000 ` 4
f
�+r�� f �
i
���".+��,.�i�n�x�m�'� %
$30,000,000 '�,N �+�: � f
��*t f„ � � ,
+�'�'"t$�m d � x'� �� 1
f k� � :"a:� �'m> a•.`,. �Y .a� �� � � r
$20,000,000 r�s�`�,��`,�� -u; ��'k +'" a;
,�"����� ��`��` � �r ..
� x
: , � �
$10,000,000 �'��°��������� a,� �,, ! �
'� "� �,
,� ��� "� �,r°� d� � �si` .� .
,�4� � � ,+ ;a, � � ��
$- t�, ��� � �,w
0-1 years 1-2 years 2-3 years 3-4 years 4-5 years
Matur.8 20
City of Orange
Reconciliation of Total Cash and
Investments to General Ledger
As of February 28, 2019
Treasurer's Operating Cash and Investments
Checking, Payroll&PMA -Wells Fargo 198,018
Treasurer's Investments 126,681,832
Cash in transit (184,524) 126,695,326
Imprest Cash 12,200
Fiscal Agent Cash and Investments 4,357,368
Total Cash & Investments 131,064,894
Total Cash and Investments per General Ledger 1 130,923,627
Plus Outstanding Checks 141,267
Total Cash & Investments 131,064,894
21
1 Includes adjustment for month-end timing differences. ��casn a
Attachment V
City of Orange
Fiscal Agent Investments
As of February 28, 2019
Market or
Carrying Contract
Value Value
Fiscal Agent Cash and Investments
Assessment District 95-1 1996 Limited Obligation Improvement Bonds- U.S. Bank 85,780 85,780
First American Government Obligation Fund (2.29%)
Community Facilities District 91-2 2013 Special Tax Refunding Bonds-U.S. Bank 1,577,050 1,577,050
First American Government Obligation Fund (2.29%)
Federal National Mortgage Association (1.25%)
Successor Agency 2008A Merged&Amended Tax Allocation Bonds- U.S. Bank 2,437 2,437
First American Government Obligation Fund (2.29%)
Federal National Mortgage Association (1.375%)
Successor Agency 2008B Merged &Amended Tax Allocation Bonds- U.S. Bank 131,153 131,153
First American Government Obligation Fund (2.29%)
Federal National Mortgage Association (1.875%)
Community Facilities District 06-1 2015 Special Tax Refunding Bonds- U.S. Bank 1,670,108 1,670,108
First American Government Obligation Fund (2.29%)
US Treasury Bond (4.375%)
Successor Agency 2014A Merged&Amended Tax Allocation Refunding Bonds- U.S. Bank 435,771 435,771
First American Government Obligation Fund (2.29%)
.. Successor Agency Refunding Bonds 2018A- U.S. Bank 455,069 455,069
First American Government Obligation Fund (229%)
Total Fiscal Agent Cash and Investments 4,357,368 4,357,368
22
Fiscal.8
MONTHLY SUMMARY COMPLIANCE CERTIFICATE
March 2019
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 =$71,995,601.
(B) Total amount allowed(75% of portfolio book value) of all City investments =$94,649,451.
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=$2,705,841.
(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=�29,500,000.
(B) Total amount allowed (35% of portfolio book value) of all City investments= $25,239,854.
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=$25,239,854.
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=$21,997,826.
(C) Total amount allowed(20% of portfolio book value) of all City investments
at the time of purchase = $25,239,854.
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 Management A�reements
(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. 1Vlaturitv 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:
�- �d�.- �.�,
,�.
Josep ine Chan Ro ario uzman
InvestmentlRevenue Officer Accountant
We hereby certify that for the month of March 2019,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:
���c�.�d .��e�.�,�.--
Richard A. Rohm William M. Kolbow
City Treasurer Administrative Services Director DATED: Apri130,2019
25
City of Orange Investment Portfolio
March 31,2019
(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 - 2.436 2.436 16,800,000.00 16,800,000.00 16,800,000.00
OSA - 2.436 2.436 12,700,000.00 12,700,000.00 12,700,000.00
29,500,000.00 29,500,000.00 29,500,000.00
(II)FEDERAL HOME LOAN BANK
Stifel Nicolaus&Co Inc. 7/27/2016 FHLB 7/27/2021 1.500 1.516 7,000,000.00 6,997,561.67 6,865,810.00
Stifel Nicolaus&Co Inc. B/30/2017 FHLB 8/26/2022 2.125 2.125 7,000,000.00 7,000,000.00 6,942,971.00
Stifel Nicolaus&Co Inc. 3/29/2018 FHLB 6/29/2020 2.500 2.473 2,000,000.00 2,000,663.70 1,999,952.00
16,000,000.00 15,998,225.37 15,808,733.00
(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 5,938,374.00
Stifel Nicolaus&Co Inc. 4/28/2016 FNMA 10/28/2019 1.400 1.400 1,000,000.00 1,000,000.00 993,926.00
UBS Financial Services 5/26/2016 FNMA 5/25/2021 1.750 1.750 15,000,000.00 15,000,000.00 14,792,940.00
UBS Financial Services 5/26/2016 FNMA 2/25/2020 1.500 1.500 9,000,000.00 9,000,000.00 8,926,938.00
Stifel Nicolaus&Co Inc. 5l27/2016 FNMA 11/30/2020 1.500 1.707 4,000,000.00 3,999,261.86 3,946,512.00
UBS Financial Services 7/27/2016 FNMA 7/27/2021 1.550 1.550 6,000,000.00 6,000,000.00 5,901,336.00
41,000,000.00 40,999,261.86 40,500,026.00
(IV)FEDERAL FARM CREDIT BANK
UBS Financial Services 2/25/2016 FFCB 2/27/2021 1.620 1.649 5,000,000.00 4,998,113.84 4,934,140.00
UBS Financial Services 4/19/2017 FFCB 1/3/2020 1.625 1.625 4,000,000.00 4,000,000.00 3,977,580.00
UBS Financial Services 6/14/2016 FFCB 2/18/2020 1.360 1.360 6,000,000.00 6,000,000.00 5,946,372.00
15,000,000.00 14,998,113.84 14,858,092.00
(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 1,958,306.00
Stifel Nicolaus&Co Inc. 11/8/2016 Wells Fargo Bank 5/24/2019 1.750 1.506 6,000,000.00 6,002,107.27 5,992,692.00
UBS Financial Services 4/21/2017 Microsoft 8/8/2019 1.100 1.409 4,000,000.00 3,995,718.55 3,979,376.00
UBS Financial Services 6/29/2017 Toyota 12/29/2020 2.000 2.000 10,000,000.00 10,000,000.00 9,568,480.00
22,000,000.00 21,997,825.82 21,498,854.00
(VI) MONEY MARKET MUTUAL FUNDS(TREASURY)
Wells Fargo Bank U.S.T-Note - 2.311 2.311 2,705,840.62 2,705,840.62 2,705,840.62
2,705,840.62 2,705,840.62 2,705,840.62
Portfolio total 3-31-19 126,205,840.62 126,199,267.51 124,871,545.62
Portfolio total 2-28-19 126,688,387.35 126,681,831.94 124,935,173.35
26
Port.9
Investment Transactions
March 2019
SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE
PURCHASES / DEPOSITS
.
.� �Various�dafes -Sweep Account` - ` � ' 2.311% 2:311% ` N%A- $ 7,61�4,789.93 �- $7,614;789,.93
3/26/2019 L.A.I.F. 2.436% 2.436% N/A $ 3,600,000.00 $3,600,000.00
27
Buy.Sell.9
Investment Transactions
March 2019
SETTLEMENT DATE DESCRIPTION RATE YIELD CALLABLE PAR PRICE
MATURITIES /WITHDRAWALS/ CALLS
Various dates Sweep Account° - 2.311% 2.31,1% N/A ' $7,,601;807.02 $7,601;8.07.02 .
Various dates L.A.I.F. 2.436% 2.436% N/A $4,100,000.00 $4,100,000.00
28
Buy.Sell.9
City of Orange Investment Portfolio
' March 31,2019
Portfolio Performance Measures
Portfolio Indexes
Rate of Return:
Portfolio Effective Rate of Return-for March 1.82% 2.44% 3 month Treasury--March Average
Portfolio Effective Rate of Return-for Fiscal Year-to-date 1.78% 2.49% 6 month Treasury--March Average
Portfolio Yield to Maturity at 3/31/2019 1.86% 2.49% 1 year Treasury--March Average
Total Rate of Return:
Total Rate of Return-for March(not annualized) 0.20% 0.61% 1-3 Year Treasury Index--Total Rate of Return for March(not annualized)
Total Rate of Return-for 2019 Y-T-D-(not annualized) 0.17% 0.99% 1-3 Year Treasury Index--Total Rate of Return for 2019 Y-T-D(not annualized)
Other.•
Portfolio Weighted-Average Time to Maturity 1.21 Years
Market Value as percent of Portfolio, 3/31/19 98.59%
Market Value as percent of Portfolio,2/28/19 98.62%
Federal Agency Securities as percent of Portfolio,3/31/19 57.05%
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.
29 4/30/2019
Port.9
10:54 AM
City of Orange Investment Portfolio
March 31 , 2019
Toyota
Microsoft Medium Term Note
Medium Term Note $10.0 7.92% Money Market
$4.0 3.17% Yield 2.000% Mutual Funds
Wells Fargo Bank Yield 1.409% $2,7 2,y4��,
Medium Term Note Yield 2.311%
$6.0 4.76% /
Yield 1.506% Local Agency Investment Fund
� p-m-�-�-T_.
$29.5 23.38%
App�e ""_` ,���� '�'"""�,� Yield 2.436%
Medium Term Note }' :}� f �� � �
$2.0 1.59% , �,, � ��� � � '+ ��
Yield 1.550% � . t �� �- � � �- ��` � ' � �
r� � ` � " �
;�: , >x � ����4 ,�
� � , v �^�, �r �q��y„� t k,FU�' �" '�� �4�NP��L
_ ±} ' .� �'n�„� ,:c„#"'� , + , �J"y 5 3a�;�� �s
,_ ; " '. ....TM ii i�' > ,F u �v .f � :�.�i r�`r�h.i�;.� ��:;
Federal Farm Credit Bank �� �} Federal Home Loan Bank
$15.0 11.88% ' - <�s�5�����q° �Fa���"� �::::::' $16.0 12.68%
r
Yield 1.524% ���a�t�f "�������������s��'��������������f�������(�'������ �
Yield 1.902%
� ���l�i� � G�`��u�� �������; �'!�.¢����� ���� ������ �k����������� ����� �
; ���� ���s�;'t.�j �t���t�",,a3�S'�� f. '4 ��q' �rc�ip���$��f� � ������Ei�1 �`� �{�{r¢ .
' a„ t� C �9.�s3�� '��i���'���p ������ ������[���d����`� ��n����^��'Qs�d���f��, �
�i; ��+� �� ��1 � ��gp�9 � �F�� ��� �,r��� "��dr���j'��������!a¢a��g p3����a�^'`
�����,�`r � �aw� � � � ;� �1 t���� ,a v a�<� � h.��J,:��`,�,
� ����� ��a S{:� �� ��y�� Sg t�.,id � t�fs� P��E dl��°7F4,P�`
�� ������������x������,,��`���s`������ �������.y��
��,�����
Federal National Mortgage
x Association
$41.0 32.48%
Yield 1.609%
Total Portfolio $126,199,268
Chart Dollar Values in Millions of Dollars
30
City of Orange Investment Portfolio
March 31, 2019
Maturity Aging Schedule
Maturing in Book Value
0-1 years 62,203,666 49%
1-2 years 26,998,040 � 21%
2-3 years 29,997,562 24%
3-4 years 7,000,000 6%
4-5 years 0 0%
$126,199,268 100%
Weighted-average years to maturity for portfolio = 1.21
$100,000,000
$90,000,000
$80,000,000
$70,000,000
$60,000,000 �}�`��:-�, "� t�'�
� y �A
����
$50,000,000
'�; „�'•'= ra,;_
$40,OOQ000 dF`,�. ��� �,��;
$30,000,000 t _ ,
�w �'� �
�
�k� �3� i !
@ y�5'*• � ?: ri i��� e
W2��00����0 Y�NJo-"�! �"lt,��j �t
�:z<
r f � j
�10,��0,0�� � ��� � -� � �
�r�{ v � i'�� - � ': '� � . '
'�.v�'��us�v��i�{.��k{,f � �' � t, i r,r ' r � x
�' v�.fi��+a+ F„� _ ^",d'�„'��� _ _ .�f;
0-1 years 1-2 years 2-3 years 3-4 years 4-5 years
31
Matur.9
City of Orange
Reconciliation of Total Cash and
Investments to General Ledger
As of March 31, 2019
Treasurer's Operating Cash and Investments
Checking, Payroll&PMA -Wells Fargo 316,114
Treasurer's Investments 126,199,268
Cash in transit 768,389 127,283,771
Imprest Cash 12,200
Fiscal Agent Cash and Investments 4,294,942
Total Cash & Investments 131,590,913
Total Cash and Investments per General Ledger 1 130,502,513
Plus Outstanding Checks 1,088,400
Total Cash & Investments 131,590,913
32
1 Includes adjustment for month-end timing differences. ��casn.s
Attachment V
City of Orange
Fiscal Agent Investments
As of March 31, 2019
Market or
Carrying Contract
Value Value
Fiscal Agent Cash and Investments
Assessment District 95-1 1996 Limited Obligation Improvement Bonds- U.S. Bank 79,045 79,045
First American Government Obligation Fund (2.29%)
Community Facilities District 91-2 2013 Special Tax Refunding Bonds- U.S. Bank 2,085,870 2,085,870
First American Government Obligation Fund (2.29%)
Federal National Mortgage Association (1.25%)
Successor Agency 2008A Merged &Amended Tax Allocation Bonds- U.S. Bank 2,441 2,441
First American Government Obligation Fund (2.29%)
Federal National Mortgage Association (1.375%)
Successor Agency 2008B Merged &Amended Tax Allocation Bonds- U.S. Bank 464 464
First American Government Obligation Fund (2.29%)
Federal National Mortgage Association (1.875%)
Community Facilities District 06-1 2015 Special Tax Refunding Bonds-U.S. Bank 2,126,900 2,126,900
First American Government Obligation Fund (2.29%)
US Treasury Bond (4.375%)
Successor Agency 2014A Merged &Amended Tax Allocation Refunding Bonds- U.S. Bank 93 93
First American Government Obligation Fund (2.29%)
.. Successor Agency Refunding Bonds 2018A- U.S. Bank 129 129
First American Government Obligation Fund (2.29%)
Total Fiscal Agent Cash and Investments 4,294,942 4,294,942
33
Fiscal.9