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HomeMy WebLinkAboutStaff Report 3.D 04/01/2019A L U A , I85`a DATE: April 1, 2019 TO: FROM: SUBJECT: Honorable Mayor and Members of the City Council through City Manager Corey Garberolio, Finance Director' Janine Tedrow, Finance and Accounting'Manager Resolution to Receive and File the City Treasurer's Quarterly Report Dated December 31, 2018. RECOMMENDATION It is recommended that the City Council adopt the attached Resolution To Receive and File the City Treasurer's Quarterly Report Dated December 31, 2018. BACKGROUND Pursuant to the City's Investment Policy and Government Code, the City Council annually delegates authority to the City Treasurer to invest or reinvest City funds. The City Council approved the City of Petaluma Investment Policy on June 4, 2018 which delegated investment authority to the City Treasurer for the Fiscal Year 201849. The City Treasurer is required to provide a quarterly investment report to the Council that includes the status of the investment portfolio. The attached reports outline the current investments, the weighted average and yields of pooled investments in California Asset Management Pool (CAMP), investments managed by Public Financial Management (PFM), and earnings received by investments in the Local Agency Investment Fund (LAIF). The reports also include the Treasurer's certification of adequate cash flow. This is the second quarterly report for Fiscal Year 2018-2019. DISCUSSION It is the policy of the City of Petaluma to manage public funds in a manner consistent with the laws of the State of California pertaining to the investment of public funds. Three primary goals of the City are to safeguard the principal of funds under its control; meet the City's daily cash flow requirements; and achieve a reasonable rate of return with the maximum amount of security possible. The attached City Treasurer's Quarterly Report contains information on the City's cash activity and ending balances in all City accounts. Each report also: Summarizes total beginning balances of all cash and investments, and total quarterly activity and ending balances. • Provides quarterly activity and ending balances in the City's cash equivalent accounts and information about trustee account activities and ending balances. Provides information on investment portfolio activity, security type, maturity and value, and book and fair value. • Compares the City's investment earnings with the City's benchmark. The City's benchmark for investments managed by PFM is the Merrill Lynch 1-3 year US Treasury index as provided by Bloomberg Financial Markets. The City's annualized return outperformed the benchmark by .03% for the year ended 12/31/18. The average yields on the PFM Managed Account, LAIF and CAMP were 1.92%, 2.40% and 2.46% respectively. FINANCIAL IMPACTS The balance of cash and investments as of December 31, 2018 was $138 million. This is up $10 million from the balance at the end of September 30, 2018. The increase is due mainly to the receipt of property tax revenue in the current quarter. The net investment earnings during the quarter ending December 31, 2018 were $639,182. ATTACHMENTS 1. Resolution 2. City Treasurer's Quarterly Report dated December 31, 2018 M ATTACHMENT 1 RESOLUTION TO RECEIVE AND FILE THE CITY TREASURER'S QUARTERLY REPORT DATED DECEMBER 31, 2018 WHEREAS, the City Investment policy requires the City Treasurer to provide a quarterly investment report to the Council for compliance with the adopted City Investment Policy. NOW, THEREFORE BE IT RESOLVED that the City Council has received the City Treasurer's Quarterly Report dated December 31, 2018 and directs the City Clerk to file the report. I City of Petaluma Quarterly Investment Report October 1 to December 31, 2018 .zg5$ OV, ATTACHMENT 2 This report is presented in accordance with the City's investment policy and the California Government Code. The policy and Government Code requires the Treasurer to certify that sufficient cash flow is available for the next six months to meet the expected demand or provide an explanation as to why sufficient cash may not be available. The attached report outlines the current investments, weighted average and yields of pooled investments. The month end account statement of assets managed by Public Financial Management, LLC (PFM), the Local Agency Investment Funds (LAIF) quarterly statement, and the City's performance summary of portfolio investments as compared to applicable benchmarks are included. The report also includes the Treasurer's certification of adequate cash flow. We respectfully submit the quarterly investment report for the quarter ending December 31, 2018. L-' CITY OF PETALUMA, CALIFORNIA CITY TREASURER'S QUARTERLY REPORT For the quarter ending December 31, 2018 Cash activity for the fiscal year: Cash and Investments, Beginning of the quarter, 9/30/18 $ 127,879,342 Cash Receipts 54,616,129 Cash Disbursements (44,055,316) Cash and Investments, End of the Quarter, 12/31/18 $ 138,440,155 Cash and Investment Portfolio at December 31, 2018 I certify that this report contains the total amounts of cash and investments at December 31, 2018. The investments are in conformity with the Investment Policy. A copy of the Investment Policy is available for review in the Finance Department. The City Treasurer's cash management program provides sufficient liquidity to meet expenditure requirements for the next six months. We respectfully submit the quarterly investment report for the quarter ending December 31, 2018. y}'1 Corey Garb r4lioA% finance Director Dated *Fair market values are furnished by the State of California, Local Agency Investment Fund and California Assel Management Program. ** See detail attached Percent Fair Market Par Value of Value* (Cost) Portfolio Investments Managed by City Treasurer: Assessment Districts Bonds 237,217 237,217 0.17% Local Agency Investment Funds (LAIF) 61,397,423 61,827,101 44.66% CAMP Pool (CA Asset Management Prog) 30,008,885 30,008,885 21.68% PFM Investments Securities ** 25,904,789 26,125,502 18.87% Checking Accounts 19,958,761 19,958,761 14.42% Subtotal 137,507,075 138,157,466 99.80% Investments Managed by Fiscal Agents: CAMP Debt Issue Accounts 273,064 273,064 0.20% Trustee Money Market Accounts 9,625 9,625 0.01% Subtotal 282,689 282,689 0.20% Total Cash and Investments 137,789,763 138,440,155 100.00% I certify that this report contains the total amounts of cash and investments at December 31, 2018. The investments are in conformity with the Investment Policy. A copy of the Investment Policy is available for review in the Finance Department. The City Treasurer's cash management program provides sufficient liquidity to meet expenditure requirements for the next six months. We respectfully submit the quarterly investment report for the quarter ending December 31, 2018. y}'1 Corey Garb r4lioA% finance Director Dated *Fair market values are furnished by the State of California, Local Agency Investment Fund and California Assel Management Program. ** See detail attached CITY OF PETALUMA, CALIFORNIA CITY TREASURER'S QUARTERLY REPORT For the quarter ending December 31, 2018 brnestments Managed by Trustees Fiscal Agents: CAMP -AD 23, 24, 25 Accounts Money Market Sub -Total CAMP -Debt Issue Accounts Bank of New York US Bank First American Treas Sub -Total Trustees Money Market Account Total Cash and Investments Managed by Fiscal Agents TOTAL CASH AND INVESTMENTS - See detail attached 271,442.36 Beginning 273,063.80 1 ad of Investments / Financial Institute of Quarter Increase*^ Decrease Qaarter Investments Managed by City Treasurer: 706.25 8,054.71 3,224,133.64 (3,223,269.63) Assessment District Bond (AD) 2000-01 237,217.22 3,626,793.02 (3,626,156.51) 237,217.22 Sub -Total Assessment Districts Bond (AD) Accounts 237,217.22 - 282,688.77 237,217.22 LAIF 61,123,629.94 332,106.38 61,455,736.32 LAIF accrued interest 332,106.38 371,364.53 (332,106.38) 371,364.53 Sub -Total LAW 61,455,736.32 703,470.91 (332,106.38) 61,827,100.85 CAMP Pool -Treasurers Investment Money Market 29,593,090.72 3,434,813.23 (3,019,018.90) 30,008,885.05 Sub -Total CAAIP Pool Managed Account 29,593,090.72 3,434,813.23 (3,019,018.90) 30,008,885.05 Federal Agency Bonds/Discount Notes 11,263,024.92 2,618,795.15 (2,525,690.78) 11,356,129.29 Fed Agency accrued interest 40,245.50 64,670.92 (56,713.24) 48,203.18 US Treasury Bonds/Notes 14,672,004.90 - 14,672,004.90 US Treasury accrued interest 52,790.91 63,389.30 (67,015.63) 49,164.58 Sub -Total PFM Securities Managed Account ** 26,028,066.23 2,746,855.37 (2,649,419.65) 26,125,501.95 Subtotal 117,314,110.49 6,885,139.51 (6,000,544.93) 118,198,705.07 Certificate of Deposits: Umpqua Bank 250,000.00 278.08 (250,278.08) Sub -Total Certificate of Deposits 250,000.00 278.08 (250,278.08) (0.00) Checking Accounts: Exchange -General Operating 9,214,575.24 38,702,248.85 (28,921,186.76) 18,995,637.33 Exchange -Payroll 738,356.86 5,400,000.00 (5,257,149.50) 881,207.36 Thomas Lee Charity Trust 1,817.38 - 1,817.38 Police Trust 80,050.61 48.30 80,098.91 Sub -Total Checking Accounts 10,034,800.09 44,102,297.15 (34,178,336.26) 19,958,760.98 Total Cash and Investments Managed by the City Treasurer 127,598,910.58 50,987,714.74 (40,429,159.27) 138,157,466.05 brnestments Managed by Trustees Fiscal Agents: CAMP -AD 23, 24, 25 Accounts Money Market Sub -Total CAMP -Debt Issue Accounts Bank of New York US Bank First American Treas Sub -Total Trustees Money Market Account Total Cash and Investments Managed by Fiscal Agents TOTAL CASH AND INVESTMENTS - See detail attached 271,442.36 1,621.44 273,063.80 271,442.36 1,621.44 273,063.80 933.75 402,659.38 (402,886.88) 706.25 8,054.71 3,224,133.64 (3,223,269.63) 8,918.72 8,988.46 3,626,793.02 (3,626,156.51) 9,624.97 280,430.82 3,628,414.46 (3,626,156.51) 282,688.77 127,879,341.40 54,616,129.20 (44,055,315.78) 138,440,154.82 Accrued interest (468,732.29) General Ledger 137,971,422.53 CITY OF PETALUMA, CALIFORNIA CITY TREASURER'S QUARTERLY REPORT For the quarter ending December 31, 2018 Cost vs. Fair Market Value u Unrealized Cost FV Gain/(Loss) US Treasury Bond/Note 14,672,004.90 14,575,615.25 (96,389.65) Federal Agency Bond/Discount Note 11,356,129.29 11,329,173.41 (26,955.88) Corporate Note - - Certificate of Deposit - - - Sub -Total PFM Treasurer's Invest. Securities 26,028,134.19 25,904,788.66 (123,345.53) CAMP Pool Money Market Fund 30,008,885.05 30,008,885.05 - Sub -Total CAMP Treasurer's Investments 56,037,019.24 55,913,673.71 (123,345.53) Accrued Interest 97,367.76 CAMP Total Investment Managed Securities Held 56,011,041.47 CAMP Debt Issue Managed Accounts 273,063.80 273,063.80 - PFM CAMP Total Treasurer's Investments xx 56,310,083.04 56,186,737.51 (123,345.53) LAIF 61,455,736.32 61,397,422.63 (58,313.69) LAIF amortized cost rate 0.99905112700 ** See detail attached u LAIF 61,827,101 44.66% City of Petaluma, California Cash/Investment by Type -December 31, 2018 Total Cash/Investments $ 138,440,155 Other Cash 19,958,761 14.420/. CAMP Investments 26,125,502 18.87% Agents 282,689 0.20% CA Pool Asset Mgmt Prog 30,008,885 21.68% 1 Managed Account Detail of Securities Held For the Month Ending December 31, 2018 City of Petaluma - TREASURER'S INVESTMENTS - 531-00 - (12511505) Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date/Coupon/Maturity U.S. Treasury Bond / Note CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value US TREASURY NOTES 912828G61 1,450,000.00 AA+ Aaa 12/01/16 12/05/16 1,452,265.63 1.45 1,912.09 1,450,702.48 1,435.047.60 DTD 12/01/2014 1.500% 11/30/2019 US TREASURY NOTES 912828H52 1,100,000.00 AA+ Aaa 01/03/17 01/05/17 1,091,234.38 1.52 5,754.08 1,096,868.01 1,084,101.70 DTD 02/02/2015 1.250% 01/31/2020 US TREASURY NOTES 912828350 425,000.00 AA+ Aaa 02/01/17 02/03/17 422,426.76 1.58 11985.58 424,013.48 419,056.80 DTD 03/02/2015 1.375% 02/29/2020 US TREASURY NOTES 912828750 1,050,000.00 AA+ Aaa 08/31/17 09/01/17 1,049,958.98 1.38 4,905.56 1,049,980.84 1,035.316.80 DTD 03/02/2015 1.375% 02/29/2020 US TREASURY NOTES 912828UVO 700,000.00 AA+ Aaa 03/15/17 03/17/17 687,941.41 1.71 2,012.02 694,988.10 687.831.90 DTD 04/01/2013 1.125% 03/31/2020 US TREASURY NOTES 912828K58 1,000,000.00 AA+ Aaa 04/03/17 04/05/17 995,507.81 1.53 2.354.97 998,031.39 984,609.00 DTD 04/30/2015 1.375% 04/30/2020 US TREASURY NOTES 912828XE5 825,000.00 AA+ Aaa 10/03/17 10/05/17 823,098.63 1.59 1,087.91 823,981.05 812,882.40 DTD 06/01/2015 1.500% 05/31/2020 US TREASURY NOTES 912828XH8 1,750,000.00 AA+ Aaa 06/26/17 06/28/17 1,756,289.06 1.50 78.56 1.753,168.60 1.726,347.00 DTD 06/30/2015 1.625% 06/30/2020 US TREASURY NOTES 912828XM7 1,000,000.00 AA+ Aaa 07/05/17 07/07/17 1,000,625.00 1.60 6,800.27 1,000.328.08 985,820.00 DTD 07/31/2015 1.625% 07/31/2020 US TREASURY NOTES 912828M98 625.000.00 AA+ Aaa 11/01/17 11/03/17 622,290.04 1.77 892.86 623.299.06 614,697.50 DTD 11/30/2015 1.625% 11/30/2020 US TREASURY NOTES 912828N48 600,000.00 AA+ Aaa 12/01/17 12/05/17 597,140.63 1.91 29.01 598,123.27 591,445.20 DTD 12/31/2015 1.750% 12/31/2020 US TREASURY NOTES 912828N89 700,000.00 AA+ Aaa 01/02/18 01/04/18 686,000.00 2.05 4,027.85 690,426.27 683,949.00 DTD 01/31/2016 1.375% 01/31/2021 US TREASURY N/B 912828P87 500,000.00 AA+ Aaa 02/15/18 02/16/18 481,230.47 2.42 1,911.26 486,497.62 485,566.50 DTD 02/29/2016 1.125% 02/28/2021 US TREASURY NOTES 912828WN6 150,000.00 AA+ Aaa 06/04/18 06/06/18 147,333.98 2.62 263.74 147,829.41 148,335.90 DTD 06/02/2014 2.000% 05/31/2021 PFM Asset Management LLC Account 531-00 Page 5 Im DTD 08/15/2018 2.750% 08/15/2021 Security Type Sub -Total Federal Agency Mortgage -Backed Security 14,775,000.00 14,672,004.90 1.84 cj� 14,705,420.85 14,575,615.25 FANNIE MAE POOL 31418AE79 104,845.61 AA+ Aaa 04/05/18 04/10/18 104,426.24 Managed Account Detail of Securities Held 218.43 For the Month Ending December 31, 2018 Ci of Petaluma - TREASURER'S INVESTMENTS - 531-00 - 12511505 DTD 04/01/2012 2.500% 05/25/2022 Security Type/ Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date/Coupon/Maturity U.S. Treasury Bond / Note CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value US TREASURY NOTES 912828877 900,000.00 AA+ Aaa 04/05/18 04/06/18 870,046.88 2.48 1,087.91 876,874.71 876,867.30 DTD 05/31/2016 1.375% 05/31/2021 FNMA SERIES 2015-M15 ASQ2 3136AOSW1 2,376.60 AA+ Aaa 11/06/15 US TREASURY NOTES 912828WR7 650,000.00 AA+ Aaa 07/03/18 07/06/18 640,046.88 2.66 38.16 641,617.79 644,617.35 DTD 06/30/2014 2.125% 06/30/2021 US TREASURY NOTES 9128284W7 500,000.00 AA+ Aaa 09/26/18 09/28/18 497,871.09 2.91 5,193.61 498,060.42 503,379.00 DTD 08/15/2018 2.750% 08/15/2021 10,166.35 10,149.57 DTD 06/01/2015 2.532% 03/01/2019 US TREASURY NOTES 9128284W7 850,000.00 AA+ Aaa 09/05/18 09/07/18 850,697.27 2.72 8,829.14 850,630.27 855.744.30 DTD 08/15/2018 2.750% 08/15/2021 Security Type Sub -Total Federal Agency Mortgage -Backed Security 14,775,000.00 14,672,004.90 1.84 49,164.58 14,705,420.85 14,575,615.25 FANNIE MAE POOL 31418AE79 104,845.61 AA+ Aaa 04/05/18 04/10/18 104,426.24 2.63 218.43 104,459.69 104.156.16 DTD 04/01/2012 2.500% 05/25/2022 Security Type Sub -Total 104,845.61 104,426.24 2.63 218.43 104,459.69 104,156.16 Agency Collateralized Mortgage ObligationFederal FNMA SERIES 2015-M15 ASQ2 3136AOSW1 2,376.60 AA+ Aaa 11/06/15 11/30/15 2,400.37 1.20 3.76 2,376.60 2,371.63 DTD 11/01/2015 1.898% 01/01/2019 FNMA SERIES 2015-M10 FA 3136ANA98 10,166.35 AA+ Aaa 06/12/15 06/30/15 10,163.42 0.43 21.45 10,166.35 10,149.57 DTD 06/01/2015 2.532% 03/01/2019 FNMA SERIES 2016-M9 ASQ2 3136ASPX8 785.31 AA+ Aaa 06/09/16 06/30/16 793.16 1.05 1.17 785.56 781.39 DTD 06/01/2016 1.7850/c 06/01/2019 FANNIE MAE SERIES 2015-M13 ASQ2 3136AODOO 14,729.57 AA+ Aaa 10/07/15 10/30/15 14,877.07 1.08 20.20 14,739.15 14,640.33 DTD 10/01/2015 1.646% 09/01/2019 FHMS K006 A2 3139SV398 250,000.00 AA+ Aaa 06/12/18 06/15/18 255,078.13 1.57 885.63 253,373.45 252,226.45 DTD 04/01/2010 4.251% 01/25/2020 FNMA SERIES 2015-M12 FA 3136AP3Z3 37,713.81 AA+ Aaa 09/10/15 09/30/15 37,700.23 0.54 82.40 37,713.81 37,676.73 DTD 09/01/2015 2.622% 04/01/2020 PFM Asset Management LLC Account 531-00 Page 6 Managed Account Detail of Securities Held For the Month Ending December 31, 2018 City of Petaluma - TREASURER'S INVESTMENTS - 531-00 - (12511505) Security Type/ Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date/Coupon/ Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Federal Agency Collateralized Mortgage •. FHLMC SERIES K013 Al 3137AA4V2 99.410.98 AA+ Aaa 06/23/17 06/28/17 101,302.10 1.60 240.41 100,201.50 99,304.01 DTD 05/01/20112.902% 08/25/2020 FNA 2010-M6 A2 31398SKAD 168,006.71 AA+ Aaa 11/14/17 11115/17 172,836.92 1.24 463.98 170,924.95 168,597.62 DTD 10/01/2010 3.314% 09/25/2020 FHMS K714 A2 3137B6ZM6 124,184.91 AA+ Aaa 11/13/18 11/16/18 123,835.64 3.11 313.98 123,840.05 124,126.75 DTD 01/01/2014 3.0340/a 10/25/2020 FHMS K714 A2 3137B6ZM6 173,858.90 AA+ Aaa 09/21/17 09/26/17 178,687.56 1.15 439.57 176,722.82 173,777.48 DTD 01/01/2014 3.034% 10/25/2020 FHMS K010 A2 3137A6B27 250,000.00 AA+ Aaa 08/24/18 08/29118 256.484.38 1.75 902.71 255,628.31 255.653.25 DTD 02/01/20114.333% 10/25/2020 FHLMC SERIES K717 Al 3137BFDP3 47,455.00 AA+ Aaa 04/18/17 04/21117 48,159.40 1.81 92.62 47,776.32 47,276.75 DTD 12/01/2014 2.342% 02/01/2021 FNA 2018-M5 A2 3136B1XP4 147,76636 AA+ Aaa 04/11/18 04/30/18 150,705.58 2.27 438.37 150,147.83 149,426.06 DTD 04/01/2018 3.560% 09/25/2021 FHMS K323 Al 3137FKK70 250,000.00 AA+ Aaa 12/07/18 12/14/18 249,998,00 3.05 661.25 249,998.00 251,558.60 DTD 12/01/2018 3.174% 03/01/2022 FHMS K023 Al 3137AWOG3 110,723.43 AA+ Aaa 07/12/18 07/17/18 107,925.06 2.87 146.06 108,202.88 108,472.19 DTD 12/01/2012 1.583% 04/25/2022 FHMS K023 Al 3137AWOG3 246,052.09 AA+ Aaa 03/06/18 03/09/18 240,708.15 2.58 324.58 241,631.70 241.049.33 DTD 12/0112012 1.583% 04/25/2022 FHMS K030 Al 3137B3N95 212.666.37 AA+ Aaa 04/20/18 04/25118 212,259.32 2.78 492.50 212,261.90 212,589.41 DTD 08/01/2013 2.779% 09/25/2022 FHMS J22F Al 3137FJYAI 274,349.98 AA+ Aaa 11107/18 11/19/18 274,342.58 3.28 789.67 274,342.57 278,446.88 DTD 11/01/2018 3.454% 05/25/2023 FHMS KPOS A 3137FKK39 120,000.00 AA+ Aaa 12/07/18 12/17/18 119,999.64 3.11 320.30 120,000.00 120,712.51 DTD 12/01/2018 3.203% 07/01/2023 FHMS K727 Al 3137FARD2 250,146.44 AA+ Aaa 11/01/18 11/06/18 245.739.56 3.28 548.65 245,844.64 248,287.20 DTD 09/01/2017 2.632% 10/01/2023 . I PFM Asset Management LLC Account 531-00 Page 7 Managed Account Detail of Securities Held For the Month Ending December 31, 2018 City of Petaluma - TREASURER'S INVESTMENTS - 531-00 - 12511505 Security Type/ Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Obligation FHMS K038 Al 3137BBBC3 101,710.27 AA+ Aaa 11/20/18 11/26/18 100,264.08 3.12 220.71 100.271.91 101.282.49 DTD 06/01/2014 2.604% 10/25/2023 Security Type Sub -Total Fed eral Agency Bond / Note 2,892,103.08 2,904,260.35 2.41 7,409.97 2,896,950.30 2,898,406.63 FNMA BENCHMARK NOTE 3135GON33 225,000.00 AA+ Aaa 07/29/16 08/02/16 224,622.00 0.93 814.84 224,925.34 222,727.73 DTD 08/02/2016 0.875% 08/02/2019 FNMA NOTES 3135GOP49 600,000.00 AA+ Aaa 08/31/16 09/02/16 599,064.00 1.05 2,050.00 599,791.36 593,606.40 DTD 09/02/2016 1.000% 08/28/2019 FNMA NOTES 3135GOP49 850,000.00 AA+ Aaa 10/03/16 10/05/16 849,490.00 1.02 2,904.17 849,883.16 840,942.40 DTD 09/02/2016 1.000% 08/28/2019 FNMA NOTES 3135GOT29 315,000.00 AA+ Aaa 02/24/17 02/28/17 314,798.40 1.52 1,614.38 314,921.10 311.414.67 DTD 02/28/2017 1.500/a 02/28/2020 FHLMC AGENCY NOTES 3137EAEF2 500,000.00 AA+ Aaa 04/19/17 04/20/17 498.290.00 1.49 1,355.90 499,248.30 492.431.00 DTD 04/20/2017 1.375% 04/20/2020 FEDERAL HOME LOAN BANKS NOTES 3130AECJ7 550,000.00 AA+ Aaa 06/04/18 06/06/18 550,803.00 2.55 1,323.44 550.579.52 550.793.65 DTD 05/21/2018 2.625% 05/28/2020 FNMA NOTES 3135GOT60 750,000.00 AA+ Aaa 07/28/17 08/01/17 747,727.50 1.60 4,718.75 748.788.20 737,598.75 DTD 08/01/2017 1.500% 07/30/2020 FANNIE MAE NOTES 3135GOU84 500,000.00 AA+ Aaa 11/02/18 11/06/18 499,290.00 2.95 2,395.83 499,343.77 502,743.00 DTD 11/01/2018 2.875% 10/30/2020 FHLMC NOTES 3137EAEK1 500,000.00 AA+ Aaa 12/01/17 12/05/17 498,810.00 1.96 1,145.83 499,236.13 493,774.00 DTD 11/15/2017 1.875% 11/17/2020 FREDDIE MAC NOTES 3137EAEL9 500,000.00 AA+ Aaa 02/15/18 02/16/18 498,680.00 2.47 4,453.13 499,055.27 498.264.00 DTD 02/16/2018 2.375% 02/16/2021 FANNIE MAE NOTES 3135GOU27 475,000.00 AA+ Aaa 04/12/18 04/13/18 474,292._25 2.55 2,572.92 474,456.64 474,612.40 DTD 04/13/2018 2.500% 04/13/2021 FANNIE MAE NOTES 3135GOU35 715,000.00 AA+ Aaa 06/22/18 06/25/18 714,835.55 2.76 491.56 714,862.10 719,011.87 DTD 06/25/2018 2.750% 06/22/2021 PFM ,Asset Management LLC Account 531-00 Page 8 CManaged Account Detail of Securities Held For the Month Ending December 31, 2018 City of Petaluma - TREASURER'S INVESTMENTS - 531-00 - (12511505) Security Type/ Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date/Coupon/ Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Federal Agency Bond / Note FREDDIE MAC NOTES (CALLABLE) 3134GSWC5 500,000.00 AA+ Aaa 08/22/18 08/27/18 500,000.00 2.90 4,994.44 '500,000.00 499,998.00 DTD 08/27/2018 1900% 08/27/2021 FEDERAL HOME LOAN BANKS NOTES 3130AEXV7 375,000.00 AA+ Aaa 09/13/18 09/20/18 375,000.00 3.00 3,156.25 375,000.00 375,936.75 (CALLABLE) DTD 09/20/2018 3.000% 09/20/2021 FEDERAL HOME LOAN BANKS NOTES 3130AF5B9 500,000.00 AA+ Aaa 11/02/18 11/06/18 499,710.00 3.02 3,291.67 499,726.51 506,378.00 DTD 10/1212018 3.000% 10/12/2021 FEDERAL HOME LOAN BANKS NOTES 3130AF5B9 500.000.00 AA+ Aaa 12/11/18 12/12/18 502,030.00 2.85 3,291.67 501,995.17 506,378.00 DTD 10/12/2018 3.000% 10/12/2021 Security Type Sub -Total 8,355,000.00 8,347,442.70 2.15 40,574.78 8,351,812.57 8,326,610.62 Managed Account Sub -Total Money Market Mutual Fund 26,126,948.69 26,028,134.19 2.01 97,367.76 26,058,643.41 25,904,788.66 CAMP Pool 30,008,885.05 AAAm NR 30.008,885.05 0.00 30,008,885.05 30,008,885.05 Money Market Sub -Total 30,008,885.05 30,008,885.05 0.00 30,008,885.05 30,008,885.05 Securities Sub -Total $56,135,833.74 Accrued Interest Total Investments PFM Asset Management LLC M $56,037,019.24 2.01% $97,367.76 $56,067,528.46 $55,913,673.71 $97,367.76 $56,011,041.47 Account 531-00 Page 9 Account Statement City of Petaluma - TREASURER'S INVESTMENTS - 531-00 Trade Settlement Date Date Transaction Description Closing Balance Month of Fiscal YTD December January -December Opening Balance 29,863,913.86 25,630,396.36 Purchases 1,033,844.91 29,359,983.60 Redemptions (Excl. Checks) (888,873.72) (24,981,494.91) Check Disbursements 0.00 0.00 Closing Balance 30,008,885.05 30,008,885.05 Cash Dividends and Income 62,601.94 613,723.93 PFM Asset M:anagement LLC Closing Balance Average Monthly Balance Monthly Distribution Yield Share or Unit Price For the Month Ending December 31, 2018 Dollar Amount Total of Transaction Shares Owned 30,008,885.05 30,008,885.05 29,918,956.70 2.46% Account 531-00 Page 22 3/9/2019 Untitled Page BETTY T. YEE California State Controller LOCAL AGENCY INVESTMENT FUND REMITTANCE ADVICE Agency Name PETALUMA Account Number 98-49-650 As of 01/15/2019, your Local Agency Investment Fund account has been directly credited with the interest earned on your deposits for the quarter ending 12/31/2018. Earnings Ratio .00006573663340150 Interest Rate 2.40% Dollar Day Total $ 5,649,278,252.12 Quarter End Principal Balance $ 61,455,736.32 Quarterly Interest Earned $ 371,364.53 https://Iaif.sco.ca.gov/Result.aspx 1/1 State of California w 90 Pooled Money Investment Account y Market Valuation 12/31/2018 Carrying Cost Plus Description Accrued Interest Purch. Amortized Cost Fair Value Accrued Interest 1* I United States Treasury: Bills $ Notes $ 11* I Federal Agency: I SBA ($ MBS-REMICs $ Debentures I $ Debentures FR I $ Debentures CL I $ Discount Notes ( $ 16,494,774,781.04 $ 16,650,272,651.45 $ 16,646,254,000.00 NA 26,084,822,813.35 $ 26,080,601,689.42 $ 26,027,720,500.00 $ 95,204,336.00 733,319,305.60 $ 25,252,637.32 $ 2,067,679,296.33 $ �$ 100,000,000.00 I $ 11,645,482,250.14 I $ I 733,319,305.60 $ 25,252,637.32 I $ 2,067,564,886.61 I $ I$ 100,000,000.00 I $ 11,720,182,916.69 I $ 725,337,181.24 I $ 25,738,470.69 I $ 2,060,749,900.00 I $ I$ 99,761,500.00 $ 11,717,455,500.00 1* ISupranational Debentures 1 $ 489,261,978.98 $ 489,261,978.98 ( $ 489,012,600.00 $ 1* (Supranational Debentures FR I $ 150,312,991.24 I $ 150,312,991.24 $ 150,570,884.05 I $ I 2* (CDs and YCDs FR I ( $ I 525,000,000.00 $ I 525,000,000.00 I $ 525,074,250.00 I $ 2* (Bank Notes $ 850,000,000.00 I $ 850,000,000.00 ( $ 849,554,819.14 I $ 2* (CDs and YCDs $ 12,900,000,000.00 I $ 12,900,000,000.00 I $ 12,895,987,828.73 I $ 2* Commercial Paper I $ 5,751,563,722.24 I $ 5,773,027,569.44 $ 5,772,338,388.88 1* 1 Corporate: Bonds FR ( $ - ( $ - ( $ Bonds I $ - I $ - I $ 1* (Repurchase Agreements I $ - I $ - I $ 1* (Reverse Repurchase I $ - I $ - I $ (Time Deposits I $ 4,647,740,000.00 I $ 4,647,740,000.00 I $ 4,647,740,000.00 IAB 55 & GF Loans I $ 797,898,000.00 I $ 797,898,000.00 I $ 797,898,000.00 TOTAL $ 83,263,107,776.24 $ 83,510,434,626.75 $ 83,431,193,822.73 Fair Value Including Accrued Interest $ 83,628,953,129.84 * Governmental Accounting Standards Board (GASB) Statement #72 Repurchase Agreements, Time Deposits, AB 55 & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). The value of each participating dollar equals the fair value divided by the amortized cost (0.999051127). As an example: if an agency has an account balance of $20,000,000.00, then the agency would report its participation in the LAW valued at $19,981,022.54 or $20,000,000.00 x 0.999051127. 1,533,321.99 117,951.22 9,201,096.20 594,375.00 NA 2,258,474.00 793,633.61 1, 941, 077.42 8,304,430.54 77,810,611.13 NA NA NA $ 197,759,307.11 1'(0 City of Petaluma Performance Summaries Returns as of BAML 1-3 Year Treasury December 31, 2018 City of Petaluma Index Past Quarter 1.19% 1.29% Past 6 Months 1.47% 1.49% Past Year 1.61% 1.58% Past 3 Years 1.08% 0.96% Past 5 Years 0.90% 0.81% Yield to Maturity 1.92% - Notes: 1. ICE Bank of America Merrill Lynch (BAML) Indices provided by Bloomberg Financial Markets. 2. CAMP Cash Reserve Pool holdings excluded from performance and yield calculations. 3. Performance numbers for periods greater than one year are presented on an annualized basis. 4. Yield for the City is calculated as the average of the quarter's three month end Yield to Maturity at Cost.