CITY OF CORINTH QUARTERLY INVESTMENT REPORT For Quarter Ending March 31, 2017

Transcription

1 CITY OF CORINTH QUARTERLY INVESTMENT REPORT For Quarter March 31, 2017 % of Security Type Mkt to Book Par Value U. S. Federal Agency-Coupon 99.85% $ 7,092,000 $ 7,097,785 $ 7,086,910 U.S. Federal Agency -Callable 99.66% 8,000,000 8,000,000 7,972,950 Managed Pools 10% 5,937,636 5,937,636 5,937,636 Money Market 10% 288, , ,705 Bank Cash 10% 7,275,886 7,275,886 7,275, % $ 28,594,227 $ 28,600,012 $ 28,562,087 PORTFOLIO SUMMARY REPORT Par Value as of 12/31/2016 $ 27,099,700 as of 12/31/2016 $ 27,102,064 as of 12/31/2016 $ 27,057,158 WAM at Date (Days) 226 Par Value as of 3/31/2017 $ 28,594,227 as of 3/31/2017 $ 28,600,012 as of 3/31/2017 $ 28,562,087 WAM at Date (Days) 252 Change to (1) $ 1,504,929 (1) The net increase in the Change to is due to the receipt of Ad Valorem tax revenue in January and debt service payments in February and the expense of capital project funds on the Public Safety facility. This report is prepared in accordance with Chapter 2256 of the Public Funds Investment Act ("PFIA") Section (a) which states that "Not less than quarterly, the investment officer shall prepare and submit to the governing body of the entity a written report of the investment transactions for all funds covered by this chapter or the preceding reporting period." The investment portfolio complied with the PFIA and the City's approved Investment Policy and Strategy throughout the period. Lee Ann Bunselmeyer Director of Finance & Administrative Services Caryn Riggs Assistant Finance Director Chris Rodriguez Financial Services Manager

2 Investment Strategies Compliance Report For Quarter March 31, 2017 OPERATING FUNDS The investment strategy for operating funds and commingled pools containing operating funds have as their primary objective to assure that anticipated cash flows are matched with adequate investment liquidity. The secondary objective is to structure a portfolio, which will minimize volatility during economic cycles. This may be accomplished by purchasing high quality, shortterm securities, which will compliment each other in a laddered maturity structure. A dollar-weighted average maturity of 270 days or less will be maintained and calculated by using the stated final maturity date of each security. as of 12/31/2016 $ 14,003,323 as of 12/31/2016 $ 13,993,030 WAM at Date (Days) 179 as of 3/31/2017 $ 16,581,695 as of 3/31/2017 $ 16,568,967 Unrealized Gain/(Loss) $ (12,728) Change to (1) $ 2,575,937 WAM at Date (Days) 239 WAM Policy Benchmark < 270 (1) The increase in the Change to is due to the receipt of Ad Valorem tax revenue and moving funds from the Money Market account to the bank cash account in March to take advantage of the higher interest rate. The bank cash account is included in the Operating Funds, but includes cash balances of all four funds. DEBT SERVICE RESERVE FUNDS Investment strategies for debt service reserve and contingency funds shall have as the primary objective the ability to generate a dependable revenue stream to the appropriate fund from securities with a low degree of volatility. Securities should be of high quality and, except as may be required by the bond ordinance specific to an individual issue, of short to intermediate-term maturities. Volatility shall be further controlled through the purchase of securities carrying the highest coupon available, within the desired maturity and quality range, without paying a premium, if at all possible. Such securities will tend to hold their value during economic cycles. A dollar weighted average maturity of 365 days or less will be maintained and calculated by using the stated final maturity date of each security. as of 12/31/2016 $ 274,482 as of 12/31/2016 $ 274,482 WAM at Date (Days) 1 as of 3/31/2017 $ 288,705 as of 3/31/2017 $ 288,705 Unrealized Gain/(Loss) $ - Change to (2) $ 14,223 WAM at Date (Days) 1 WAM Policy Benchmark < 365 (2) There is no significant Change to. The bank cash account balance for the Debt Service fund is $541,845.

3 Investment Strategies Compliance Report For Quarter March 31, 2017 BOND / CAPITAL PROJECT FUNDS Investment strategies for bond / capital project funds will have as their primary objective to assure that anticipated cash flows are matched with adequate investment liquidity. These portfolios should include at least 10% in highly liquid securities to allow for flexibility and unanticipated project outlays. The stated final maturity dates of securities held should not exceed the estimated project completion date. A dollar weighted average maturity of 365 days or less will be maintained and calculated by using the stated final maturity of each security. as of 12/31/2016 $ 12,685,663 as of 12/31/2016 $ 12,651,051 WAM at Date (Days) 286 as of 3/31/2017 $ 11,729,612 as of 3/31/2017 $ 11,704,414 Unrealized Gain/(Loss) $ (25,197) Change to (1) $ (946,637) WAM at Date (Days) 276 WAM Policy Benchmark < 365 (1) The decrease in the Change to is due to moving funds from the Money Market account to the bank cash account in March to take advantage of the higher interest rate, and expenditures for the Public Safety Facility. The bank cash account balance for the Bond/Capital Project Funds is $1,306,026. SPECIAL REVENUE FUNDS Investment strategies for construction projects or special purpose fund portfolios will have as their primary objective to assure that anticipated cash flows are matched with adequate investment liquidity. These portfolios should include at least 10% in highly liquid securities to allow for flexibility and unanticipated project outlays. The stated final maturity dates of securities held should not exceed the estimated project completion date. A dollar weighted average maturity of 270 days or less will be maintained and calculated by using the stated final maturity of each security. as of 12/31/2016 $ 138,596 as of 12/31/2016 $ 138,596 WAM at Date (Days) 1 as of 3/31/2017 $ - as of 3/31/2017 $ - Unrealized Gain/(Loss) $ - Change to (2) $ (138,596) (2) WAM at Date (Days) - WAM Policy Benchmark < 270 The decrease in the Change to is due to moving funds from the Money Market account to the bank cash account in March to take advantage of the higher interest rate. The bank cash account balance for the Special Revenue funds is $690,545.

4 For Quarter March 31, 2017 Portfolio Summary By Market Sector Market Sector Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 U.S. Federal Agency -Coupon $ 6,025,000 $ 7,025,000 7,092,000 U.S. Federal Agency-Callable 7,500,000 8,000,000 8,000,000 Managed Pools 5,931,958 5,934,476 5,937,636 Money Market 2,561,616 2,562, ,705 Bank Cash 8,571,387 5,423,050 7,275,886 Total Par Value: $ 30,589,961 $ 28,945,027 $ 28,594,227 As of Mar. 31, 2017 Bank Cash 25.45% Money Market 1.01% Managed Pools 20.77% Agency Coupon 24.79% Agency Callable 27.98% The portfolio is restricted to U.S. Treasuries, U.S. Agencies, bonds issued by Texas public entities and rated AA or better, fully insured/collateralized certificates of deposit, and fully collateralized repurchase agreements. The investments are diversified by security type to protect interest income from the volatility of interest rates and to protect the portfolio from the risk of principal loss in any one market. Performance Policy Indicators Benchmark Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 Average Yield to Maturity 0.718% 0.849% 0.840% > Policy Benchmark-(Six Month T-Bill) 0.609% 0.650% 0.875% Callable Securities < 3% 24.52% 27.64% 27.98% Investment By Type < U.S. Treasuries 10% % % % U.S. Agencies 10% 44.22% 51.91% 52.77% Certificates of Deposit 10% % % % Managed Pools 5% 19.39% 20.50% 20.77% Money Market 5% 8.37% 8.85% 1.01% Cash 10% 28.02% 18.74% 25.45% Note: The callable securities are below the benchmark for the quarter. The portfolio's Average Yield to Maturity is slightly below the policy benchmark for this quarter. Liquidity is at 47%.

5 For Quarter March 31, 2017 Portfolio Summary By Broker/Dealer Broker/Dealer Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 Coastal Securities / FTN Financial $ 4,950,000 $ 5,950,000 $ 5,950,000 Mutual Securities 2,300,000 2,300,000 2,300,000 SAMCO Capital Markets 6,275,000 6,775,000 6,842,000 Total Broker/Dealer $ 13,525,000 $ 15,025,000 $ 15,092,000 Managed Pools/ Depository Bank TexStar $ 5,931,958 $ 5,934,476 $ 5,937,636 Money Market 2,561,616 2,562, ,705 NorthStar Bank 8,571,387 5,423,050 7,275,886 Total Managed Pools/Depository Bank $ 17,064,961 $ 13,920,027 $ 13,502,227 Total Par Value: $ 30,589,961 $ 28,945,027 $ 28,594,227 As of Mar. 31, 2017 NorthStar Bank 25.45% TexStar 20.77% Money Market 1.01% Coastal Securities / FTN Financial 20.81% Mutual Securities 8.03% SAMCO Capital Markets 23.93% To guard against default possibilities, and to promote diversification of bidders, business with any one issuer, or investment broker, is limited to forty (40%) percent of the total portfolio at any point in time. As shown in the table below, the portfolio adhered to this provision throughout the quarter. Performance Policy Indicators Benchmark Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 Highest Broker Percent < 4% 20.51% 23.41% 23.93%

6 For Quarter March 31, 2017 Portfolio Summary By Maturity Maturity Time Frame Jan. 31, 2017 Feb. 28, 2017 Mar. 31, Days $ 17,064,961 $ 14,170,027 $ 13,502, Days 250, Days Days 1,000,000 1,000,000 1,300, Days 5,305,000 5,805,000 5,675, Days Days 1,000,000 1,000,000 1,000, & Over 5,970,000 6,970,000 7,117,000 $ 30,589,961 $ 28,945,027 $ 28,594,227 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 Liquidity (0-30 Days) Core Portfolio Reserves The risk of market price volatility is minimized through maturity diversification. The maturities on our investments are staggered over a series of three-month increments to provide cash flow based on the anticipated needs of the City. Liquidity is achieved by matching investment maturities with forecasted cash flow requirements and by investing in securities with active secondary markets. Short-term investment pools and money market funds provide daily liquidity and are utilized as a competitive yield alternative to fixed maturity investments. Performance Policy Indicators Benchmark Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 Weighted Avg. Maturity < 365 Days Maturities < 30 days > 5.00% 55.79% 48.95% 47.22% Note: The portfolio is below the benchmark for Weighted Average Maturity (WAM) and liquidity is 47%.

7 For Quarter March 31, 2017 Portfolio Summary By Fund Type Fund Type Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 Operating $ 17,568,960 $ 15,421,361 $ 16,576,329 Debt Service Reserve 274, , ,705 Special Revenues 138, ,698 - Bond / Capital Projects 12,607,761 12,810,179 11,729,193 $ 30,589,961 $ 28,945,027 $ 28,594,227 As of Mar. 31, 2017 Bonds 41.02% Special Revenues % Operating 57.97% Reserve 1.01% As shown in the graph above, the investments in the portfolio are distributed by fund type. Preservation and safety of principal of these investments is the most important strategy. All investments shall be high quality securities with no perceived default risk. Market fluctuations will occur; however, by managing the weighted-average days to maturity (WAM) for each fund type, losses are minimized. Performance Policy Indicators Benchmark Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 WAM by Fund < Operating 270 Days Debt Service Reserve 365 Days Special Revenues 270 Days Bond /Capital Projects 365 Days Note: The Weighted Average Maturity (WAM) for all of the funds are below the benchmark.

8 For Quarter March 31, 2017 Corinth Economic Development Corporation Portfolio Summary Market Sector Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 U.S. Federal Agency -Coupon $ 1,765,000 $ 1,765,000 $ 1,765,000 U.S. Federal Agency -Callable 750, , ,000 Managed Pools 354, , ,328 Bank Cash 236, , ,220 Total Par Value: $ 3,106,437 $ 3,167,035 $ 3,166,548 As of Mar. 31, 2017 Bank Cash 9.35% Managed Pools 11.22% U.S. Federal Agency - Coupon 55.74% U.S. Federal Agency - Callable 23.69% The portfolio is restricted to U.S. Treasuries, U.S. Agencies, bonds issued by Texas public entities and rated AA or better, fully insured/collateralized certificates of deposit, and fully collateralized repurchase agreements. The investments are diversified by security type to protect interest income from the volatility of interest rates and to protect the portfolio from the risk of principal loss in any one market. Performance Indicators Policy Benchmark Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 Average Yield to Maturity 0.890% 0.881% 0.893% > Policy Benchmark-(Six Month T-Bill) 0.609% 0.650% 0.875% Callable Securities < 3% 24.14% 23.68% 23.69% Investment By Type < U.S. Treasuries 10% % % % U.S. Agencies 10% 80.96% 79.42% 79.43% Certificates of Deposit 10% % % % Managed Pools 10% 11.43% 11.21% 11.22% Money Market 10% % % % Cash 10% 7.61% 9.37% 9.35% Weighted Avg. Maturity < 270 Days Maturities < 30 days > 5.00% 19.04% 20.59% 20.58% Note: The liquidity is 20%. The portfolio's Average Yield to Maturity is above the policy benchmark for this quarter. The Weighted Average Maturity (WAM) is below the benchmark for the quarter.

9 For Quarter March 31, 2017 Street Maintenance Sales Tax Portfolio Summary Market Sector Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 U.S. Federal Agency -Coupon $ 200,000 $ 200,000 $ 200,000 Money Market 226, ,087 - Bank Cash 312, , ,681 Total Par Value: $ 738,107 $ 773,859 $ 799,681 As of Mar. 31, 2017 Bank Cash 74.99% U.S. Agencies 25.01% The portfolio is restricted to U.S. Treasuries, U.S. Agencies, bonds issued by Texas public entities and rated AA or better, fully insured/collateralized certificates of deposit, and fully collateralized repurchase agreements. The investments are diversified by security type to protect interest income from the volatility of interest rates and to protect the portfolio from the risk of principal loss in any one market. Performance Policy Indicators Benchmark Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 Average Yield to Maturity 0.548% 0.739% 0.679% > Policy Benchmark-(Six Month T-Bill) 0.609% 0.650% 0.875% Callable Securities < 3% % % % Investment By Type < U.S. Treasuries 10% % % % U.S. Agencies 10% 27.10% 25.84% 25.01% Managed Pools 10% % % % Money Market 10% 30.62% 29.22% % Bank Cash 10% 42.28% 44.94% 74.99% Weighted Avg. Maturity < 270 Days Note: The liquidity is 75%. The portfolio's Average Yield to Maturity is below the policy benchmark for this quarter. The Weighted Average Maturity (WAM) is below the benchmark.

10 For Quarter March 31, 2017 Corinth Crime Control & Prevention District Portfolio Summary Market Sector Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 U.S. Federal Agency -Coupon $ - $ - $ - Bank Cash 186, , ,735 Total Par Value: $ 186,417 $ 208,544 $ 218,735 As ofjun. Mar. 30, 31, Bank Cash 10% Bank Cash 10% The portfolio is restricted to U.S. Treasuries, U.S. Agencies, bonds issued by Texas public entities and rated AA or better, fully insured/collateralized certificates of deposit, and fully collateralized repurchase agreements. The investments are diversified by security type to protect interest income from the volatility of interest rates and to protect the portfolio from the risk of principal loss in any one market. Performance Policy Indicators Benchmark Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 Average Yield to Maturity 0.510% 0.939% 0.665% > Policy Benchmark-(Six Month T-Bill) 0.609% 0.650% 0.875% Callable Securities < 3% % % % Investment By Type < U.S. Treasuries 10% % % % U.S. Agencies 10% % % % Managed Pools 10% % % % Cash 10% 10% 10% 10% Weighted Avg. Maturity < 270 Days Note: Due to liquidity needs, the fund balance is not invested. All funds are held in the bank account.

11 ECONOMIC SUMMARY Interest Rate History Fiscal Year Sep 03 Sep 04 Sep 05 Sep 06 Sep 07 Sep 08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Market Sector Fed Funds 1.00% 1.75% 3.75% 5.25% 4.50% 1.50% 0.25% 0.25% 0.25% 0.25% 0.25% 0.25% 0.25% 0.50% 0.75% 0.75% 3-month T-bill 0.96% 1.69% 3.90% 4.77% 4.44% 1.20% 0.12% 0.15% 0.09% 0.10% 0.01% 0.02% 0.01% 0.28% 0.50% 0.74% Texpool 1.03% 1.54% 3.60% 5.26% 5.13% 2.41% 0.28% 0.22% 0.09% 0.16% 0.04% 0.03% 0.09% 0.38% 0.46% 0.62% Portfolio Benchmark 0.95% 1.67% 3.48% 5.08% 4.58% 1.68% 0.20% 0.19% 0.04% 0.13% 0.04% 0.04% 0.17% 0.46% 0.69% 0.88% Portfolio Average n/a 1.40% 3.54% 5.15% 5.06% 2.87% 1.32% 1.02% 0.61% 0.50% 0.47% 0.40% 0.49% 0.62% 0.63% 0.84% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% % Sep 03 Sep 04 Sep 05 Sep 06 Sep 07 Sep 08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Fed Funds 3-month T-bill Texpool Portfolio Benchmark Portfolio Average Projected The Fed Fund rate as of March 2017 is 0.75% - 1%. The FOMC voted in March 2017 to increase the overnight funds target from the current range of 0.75% to 1%. The official statement released after the meeting continued to point to "gradual" rate increases in the future with more increases this year and into Source: Public Investor, First Southwest Asset Management, Inc.

12 PORTFOLIO INTEREST ANALYSIS Fiscal Year Corinth Economic Development Corinth CityCrime of Corinth Control & Street Prevention Maintenance Sales T Portfolio Portfolio Invested Interest Portfolio Portfolio Invested Interest Portfolio Portfolio Invested Interest Portfolio Portfolio Invested Interest Benchmark Yield Balance Earnings Benchmark Yield Balance Earnings Benchmark Yield Balance Earnings Benchmark Yield Balance Earnings Oct 0.464% 0.645% $ 23,561,814 $ 12, % 0.684% $ 3,102,119 $ 1, % 0.537% $ 665,180 $ % 0.465% 220,757 $ 80 Nov 0.580% 0.640% 23,962,984 12, % 0.700% 3,014,496 1, % 0.534% 693, % 0.465% 233, Dec 0.625% 0.688% 27,099,700 13, % 0.889% 3,059,221 2, % 0.551% 693, % 0.510% 233, Jan 0.609% 0.718% 30,589,961 17, % 0.890% 3,106,437 2, % 0.548% 738, % 0.510% 186, Feb 0.650% 0.849% 28,945,027 18, % 0.881% 3,167,035 2, % 0.739% 773, % 0.939% 208, Mar 0.875% 0.840% 28,594,227 19, % 0.893% 3,166,548 2, % 0.679% 799, % 0.665% 218, Avg 0.634% 0.730% $ 27,125,619 $ 15, % 0.823% $ 3,102,643 $ 2, % 0.598% $ 727,223 $ % 0.592% $ 216,835 $ % 0.900% 0.800% 0.700% Interest Rate Comparison $20,000 $17,500 $15,000 Invested Earnings Comparison 0.600% 0.500% 0.400% 0.300% 0.200% $12,500 $10,000 $7,500 $5, % $2,500 0% Oct Nov Dec Jan Feb Mar $0 Oct Nov Dec Jan Feb Mar Benchmark Corinth Economic Development Corporation Street Maintenance Sales Tax City of Corinth Corinth Crime Control & Prevention District City of Corinth Corinth Economic Development Corporation Corinth Crime Control & Prevention District Street Maintenance Sales Tax

13 City of Corinth portfolio Texas Compliance Change in Val Report Sorted by Fund October 1, March 31, 2017 City of Corinth 3300 Corinth Parkway Corinth, TX Inv # Issuer Fund Purch Date Interest Accrual Cusip Par Value YTM Mat Date Interest Received Fund: Pooled Cash Purchases/ Additions Redemptions Change in Value NTHSTR 00 10/01/ , ,418, ,470, ,613, ,857, ,275, SYS ,275, / / 4,418, ,470, ,613, ,857, ,275, Sub Totals For: Fund: Pooled Cash 15, ,418, ,470, ,613, ,857, ,275, ,418, ,470, ,613, ,857, ,275, Fund: General Fund FHLMC /28/2016 4,00 1,000,00 1,000, G9WU7 1,000, /28/2017 4,00 999, , TXSTAR /01/2016 SYS / / NTHSTR /01/ , , , , SYS / / , , , , FHLB /07/2014 1, , ,000,00-999, A0C /28/2016 3, ,000,70 1,000,00-1,000, FHLB /02/2015 2, ,00 500, A3Q80 500, /29/2017 2, , , FHLB /09/2017 1, , , , AAKJ6 1,000, /09/ , ,90 998, FAMC /01/ ,00 500,00 500, X0NNS6 500, /01/ ,00 499,65 499, FHLB /20/ , , , SN5 170, /09/ , , , Portfolio CITY Run Date: 04/06/ :45 TC (PRF_TC) 7.0 Report Ver b

14 City of Corinth portfolio Texas Compliance Change in Val Report October 1, March 31, 2017 Page 2 Inv # Issuer Fund Purch Date Interest Accrual Cusip Par Value YTM Mat Date Interest Received Purchases/ Additions Redemptions Change in Value FNMA /20/ , , , G2H91 147, /20/ , , , FHLB /19/2016 1, ,59 499, , CU5 500, /27/ ,59 498, , FHLB /20/2016 1, ,10 400, , AAHG6 400, /14/ ,10 400,16 400, FFCB /20/2016 3, ,000,00 1,000,00 1,000, EGW35 1,000, /20/2018 1,000,00 998,10 998, FNMA /05/ , , G16Y0 150, /26/ , , , FFCB /03/2017 1, ,85 499, , EG2S3 500, /03/ ,85 499,55 499, FHLB /17/2017 1, ,00 500,00 500, AAMC9 500, /17/ ,00 499,05 499, FFCB /01/2017 1, ,00 500,00 500, EG5Q4 500, /01/ ,00 499,55 499, FHLMC /14/ ,00 300,00 300, GAX90 300, /14/ ,00 300,00 300,00 Sub Totals For: Fund: General Fund 23, ,979, ,598, ,408, ,191, ,170, , ,979, ,598, ,408, ,182, ,162, Fund: Utility Fund FHLB /30/ , ,00-149, A3PC2 0 12/12/ , ,00-149, FFCB /27/2016 1, ,00 300, EFWC7 300, /27/2017 1, , ,94 Portfolio CITY Run Date: 04/06/ :45 TC (PRF_TC) 7.0 Report Ver b

15 City of Corinth portfolio Texas Compliance Change in Val Report October 1, March 31, 2017 Page 3 Inv # Issuer Fund Purch Date Interest Accrual Cusip Par Value YTM Mat Date Interest Received Purchases/ Additions Redemptions Change in Value FNMA /05/2016 1, , , G16Y0 270, /26/2018 1, , , , TXSTAR /01/2016 1, , , , , SYS , / / 1, , , , , NTHSTR /01/2016 1, , , , , SYS / / 1, , , , , TXPOOL /01/2016 SYS / / FEDER /01/2016 SYS / / Sub Totals For: Fund: Utility Fund 5, ,686, , , , ,185, , ,685, , , , ,182, Fund: Drainage Fund FHLB /30/ , ,00-149, A3PC2 0 12/12/ , ,00-149, FNMA /05/ , , G16Y0 150, /26/ , , , TXSTAR /01/ , , SYS , / / , , NTHSTR /01/ , , ,00 SYS / / , , ,00 Sub Totals For: Fund: Drainage Fund 1, , , , , , , , , , Fund: Economic Development FHLB /20/2016 1, , , , AAHG6 350, /14/ , ,14 350,14 Portfolio CITY Run Date: 04/06/ :45 TC (PRF_TC) 7.0 Report Ver b

16 City of Corinth portfolio Texas Compliance Change in Val Report October 1, March 31, 2017 Page 4 Inv # Issuer Fund Purch Date Interest Accrual Cusip Par Value YTM Mat Date Interest Received Purchases/ Additions Redemptions Change in Value TXPOOL /01/2016 1, , , , , , SYS , / / 1, , , , , , NTHSTR /01/ , , , , , SYS , / / 194, , , , , NTHSTR /01/2016 SYS / / FAMC /08/ , , , , QAA8 585, /19/ , , , , FHLMC /25/2016 2,00 500,00 500, G8L49 500, /25/2017 2,00 499, , FHLB /11/2016 2,66 381, , PK1 380, /28/2017 2,66 382,09-1, , FFCB /27/2016 1, ,00 450, EFWC7 450, /27/2017 1, , , FNMA /08/ ,75 248, , G2XJ1 250, /23/ ,75 248, , Sub Totals For: Fund: Economic Development 25, ,077, , , , ,167, , ,078, , , , ,166, Fund: Crime Control & Prev NTHSTR /01/ , , , , , SYS , / / 202, , , , , Sub Totals For: Fund: Crime Control & Prev , , , , , , , , , , Fund: Street Maintenance S FHLB /16/ ,00 200, A8HM8 200, /16/ , ,50 Portfolio CITY Run Date: 04/06/ :45 TC (PRF_TC) 7.0 Report Ver b

17 City of Corinth portfolio Texas Compliance Change in Val Report October 1, March 31, 2017 Page 5 Inv # Issuer Fund Purch Date Interest Accrual Cusip Par Value YTM Mat Date Interest Received Purchases/ Additions Redemptions Change in Value TXSTAR /01/2016 SYS / / NTHSTR /01/ , , , SYS / / , , , NTHSTR /01/ , , , , SYS , / / 213, , , , Sub Totals For: Fund: Street Maintenance S 1, , , , , , , , , , , , Fund: General Fund Capital FHLB /28/ ,00 250,00-250, N0 0 03/10/2017 1, ,40 250,00-250, NTHSTR /01/ , , , SYS / / , , , FAMC /11/2016 2, , , P5L9 455, /08/2018 2, , , FHLMC /25/2016 2,50 500,00 500, G96J1 500, /25/2019 2,50 499,20-2,55 496,65 Sub Totals For: Fund: General Fund Capital 7, ,778, , , , , ,778, , , , Fund: Water/Wastewater Cap NTHSTR /01/ , , , SYS / / , , , Fund: General Debt Service Sub Totals For: Fund: Water/Wastewater Cap , , , , , , Portfolio CITY Run Date: 04/06/ :45 TC (PRF_TC) 7.0 Report Ver b

18 City of Corinth portfolio Texas Compliance Change in Val Report October 1, March 31, 2017 Page 6 Inv # Issuer Fund Purch Date Interest Accrual Cusip Par Value YTM Mat Date Interest Received Purchases/ Additions Redemptions Change in Value NTHSTR /01/ , , , , , SYS , / / , , , , , TXSTAR /01/2016 SYS / / Sub Totals For: Fund: General Debt Service , , , , , , , , , , Fund: GF Vehicle & Equip NTHSTR /01/2016 SYS / / Sub Totals For: Fund: GF Vehicle & Equip Fund: Fire Vehicle Replace NTHSTR /01/ , , , SYS / / , , , Sub Totals For: Fund: Fire Vehicle Replace , , , , , , Fund: Utility Vehicle & Eq NTHSTR /01/ , , , SYS / / , , , Sub Totals For: Fund: Utility Vehicle & Eq , , , , , , Fund: Utility Meter Replac FHLB /02/2015 2, ,00 500, A3Q80 500, /29/2017 2, , , NTHSTR /01/ , , , SYS / / , , , Portfolio CITY Run Date: 04/06/ :45 TC (PRF_TC) 7.0 Report Ver b

19 City of Corinth portfolio Texas Compliance Change in Val Report October 1, March 31, 2017 Page 7 Inv # Issuer Fund Purch Date Interest Accrual Cusip Par Value YTM Mat Date Interest Received Purchases/ Additions Redemptions Change in Value Sub Totals For: Fund: Utility Meter Replac 3, , , , ,00 3, , , , ,05 Fund: Water Impact Fees FHLB /30/ , ,00-99, A3PC2 0 12/12/ ,97 100,00-99, TXSTAR /01/2016 SYS / / Sub Totals For: Fund: Water Impact Fees , ,00-99, ,97 100,00-99,97 Fund: Wastewater Impact Fe FHLB /30/ , ,00-99, A3PC2 0 12/12/ ,97 100,00-99, TXSTAR /01/2016 SYS / / Sub Totals For: Fund: Wastewater Impact Fe , ,00-99, ,97 100,00-99,97 Fund: Roadway Impact Fees TXSTAR /01/2016 SYS / / Sub Totals For: Fund: Roadway Impact Fees Fund: Street Escrow NTHSTR /01/ , , , SYS / / , , , TXPOOL /01/2016 SYS / / Portfolio CITY Run Date: 04/06/ :45 TC (PRF_TC) 7.0 Report Ver b

20 City of Corinth portfolio Texas Compliance Change in Val Report October 1, March 31, 2017 Page 8 Inv # Issuer Fund Purch Date Interest Accrual Cusip Par Value YTM Mat Date Interest Received Purchases/ Additions Redemptions Change in Value Sub Totals For: Fund: Street Escrow , , , , , , Fund: Street 2007 CO TXPOOL /01/2016 SYS / / TXSTAR /01/2016 SYS / / NTHSTR /01/2016 SYS / / Sub Totals For: Fund: Street 2007 CO Fund: Tech 2007 CO NTHSTR /01/2016 SYS / / TXPOOL /01/2016 SYS / / TXSTAR /01/2016 SYS / / Sub Totals For: Fund: Tech 2007 CO Fund: Fire 2010 CO NTHSTR /01/2016 SYS / / Sub Totals For: Fund: Fire 2010 CO Fund: 2016 CO General Capi Portfolio CITY Run Date: 04/06/ :45 TC (PRF_TC) 7.0 Report Ver b

21 City of Corinth portfolio Texas Compliance Change in Val Report October 1, March 31, 2017 Page 9 Inv # Issuer Fund Purch Date Interest Accrual Cusip Par Value YTM Mat Date Interest Received Purchases/ Additions Redemptions Change in Value FHLMC /28/2016 8,00 2,000,00 2,000, G9WU7 2,000, /28/2017 8,00 1,999,40-1,80 1,997, FHLB /16/2016 1,98 550,00 550, A8HM8 550, /16/2018 1,98 549, , FHLMC /30/2016 4,00 1,000,00 1,000, G9G76 1,000, /29/2018 3, ,80-2,30 995, FHLMC /25/2016 5,00 1,000,00 1,000, G96J1 1,000, /25/2019 5,00 998,40-5,10 993, FHLB /30/2016 5, ,000,00 1,000, A8YM9 1,000, /28/2019 4, ,70-5,70 993, FHLMC /14/ ,00 200,00 200, GAX90 200, /14/ ,00 200,00 200, TXSTAR /01/ , ,011, , , ,024, SYS ,024, / / 12, ,011, , , ,024, Sub Totals For: Fund: 2016 CO General Capi 37, ,561, , , ,774, , ,555, , , ,752, Fund: Water 2007 CO TXPOOL /01/2016 SYS / / TXSTAR /01/2016 SYS / / NTHSTR /01/2016 SYS / / Sub Totals For: Fund: Water 2007 CO Fund: Wastewater 2007 CO Portfolio CITY Run Date: 04/06/ :45 TC (PRF_TC) 7.0 Report Ver b

22 City of Corinth portfolio Texas Compliance Change in Val Report October 1, March 31, 2017 Page 10 Inv # Issuer Fund Purch Date Interest Accrual Cusip Par Value YTM Mat Date Interest Received Purchases/ Additions Redemptions Change in Value TXPOOL /01/2016 SYS / / TXSTAR /01/2016 SYS / / NTHSTR /01/2016 SYS / / Sub Totals For: Fund: Wastewater 2007 CO Fund: Drainage 2007 CO TXSTAR /01/2016 SYS / / NTHSTR /01/2016 SYS / / TXPOOL /01/2016 SYS / / Sub Totals For: Fund: Drainage 2007 CO Report Grand Totals: 124, ,947, ,095, ,243, ,838, ,786, , ,941, ,095, ,243, ,805, ,746, Portfolio CITY Run Date: 04/06/ :45 TC (PRF_TC) 7.0 Report Ver b