County of San Diego Treasurer Investment Report. MONTH ENDING July 31, 2013

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1 County of San Diego Treasurer Investment Report MONTH ENDING July 31, 2013

2 Table of Contents 3 Summary Portfolio Statistics as of July 31, Investment Inventory with Market Value 12 Purchases/Sales/Maturities 17 Cash Flow Analysis 18 Participant Cash Balances 19 Pooled Money Fund Participants 20 Pooled Money Fund Asset Allocation 21 Pooled Money Fund Assets Credit Quality 22 Investment Policy Compliance Standards DISCLAIMER: The information provided, including all charts, tables, graphs and numerical representations, are provided to readers solely as a general overview of the economic and market conditions which the Treasurer utilizes in making investment decisions. Note: All Investments held during the month of July 2013 were in compliance with the Investment Policy dated January 1, The projected cash flows indicate sufficient liquidity to meet all scheduled expenditures for the next 6 months. 2

3 Summary Portfolio Statistics County of San Diego Pooled Money Fund as of July 31, 2013 Percent of Current Par/ Current Market Market Current Yield to Unrealized Portfolio WAM WAC YTM Share Book Price Value Accr Int Worst Gain/Loss Certificates of Deposit ,613,000 64,613, ,613,000 2, Commercial Paper ,000, ,924, ,844, (80,171) Fannie Mae ,250,497,000 1,255,663, ,248,885,180 4,124, (6,777,823) Fannie Mae Discount Notes ,000,000 59,966, ,951, (14,828) Federal Farm Credit Bank Discount Notes ,000, ,881, ,721, (159,311) Federal Farm Credit Bank Notes ,689, ,702, ,741, , ,278 Federal Home Loan Bank Discount Notes ,700, ,601, ,583, (18,341) Federal Home Loan Bank Notes ,607,015,000 1,611,208, ,613,056,199 2,991, ,847,256 Federal Home Loan Mortgage Corp Discount Notes ,000,000 49,929, ,920, (9,128) Federal Home Loan Mortgage Corp Notes ,645, ,315, ,017,139 2,823, ,701,483 Money Market Funds ,725,000 86,725, ,830,105 10, ,105 Negotiable CD ,230,315,000 1,230,316, ,230,316, , (21) Repurchase Agreements ,452,893 12,452, ,452, U.S. Treasury Notes ,037 1, ,000, ,465, ,030,340 1,023, ,426 Totals for July ,930,651,893 6,947,768, ,944,964,964 11,296, (2,803,075) Totals for June ,651,927,009 6,669,616, ,663,275,681 10,784, (6,340,552) Change From Prior Month (4) (1) (0.01) 278,724, ,151, ,689, , ,537,477 Portfolio Effective Duration years Fiscal Year Calendar Year July To Date To Date Return Annualized Return Annualized Return Annualized Book Value 0.035% 0.407% 0.035% 0.407% 0.247% 0.425% Market Value 0.035% 0.407% 0.035% 0.407% 0.247% 0.425% Note Yield to maturity (YTM) is the estimated rate of return on a bond given its purchase price, assuming all coupon payments are made on a timely basis and reinvested at this same rate of return to the maturity date. Yield to call (YTC) is the estimated rate of return on a bond given its purchase price, assuming all coupon payments are made on a timely basis and reinvested at this same rate of return to the call date. Yield to worst (YTW) is the lesser of yield to maturity or yield to call, reflecting the optionality of the bond issuer. Yields for the portfolio are aggregated based on the book value of each security. 3

4 Investment Inventory with Market Value San Diego Pooled Money Fund as of July 31, 2013 Issuer Purchase Maturity Coupon YTM Par Value Current Book Market Value Current Unrealized Date Date Accr Int Gain/Loss Certificates of Deposit CDARS Regent Bank 3/21/2013 9/19/ ,813, ,813, ,813, Vibra Bank 6/27/ /26/ ,000, ,000, ,000, Ca Bank and Trust 5/20/ /18/ ,000, ,000, ,000, Ca Bank and Trust 7/22/2013 1/21/ ,000, ,000, ,000, Comerica Bank 7/24/2013 1/24/ ,000, ,000, ,000, Torrey Pines Bank 3/29/2013 3/29/ ,000, ,000, ,000, Ca Bank and Trust 5/8/2013 5/8/ , , , Vibra Bank 2/12/2013 8/12/ , , , First California Bank 5/12/2013 5/12/ , , , Metro United Bank 5/22/2013 8/22/ , , , Coronado First Bank 10/24/ /24/ , , , American West Bank 3/15/2013 9/11/ , , , Regents Bank 5/30/ /28/ , , , Pacific Trust Bank 6/20/2013 6/20/ , , , Torrey Pines Bank 9/7/2012 9/6/ , , , Certificates of Deposit Subtotal ,613, ,613, ,613, , Commercial Paper Bank of Nova Scotia 5/30/2013 8/1/ ,000, ,000, ,988, , Bank of Nova Scotia 5/30/2013 8/2/ ,000, ,999, ,994, , Toronto Domin Ny 6/14/2013 8/16/ ,000, ,998, ,993, , Toronto Domin Ny 6/14/2013 8/30/ ,000, ,996, ,991, , Bank of Nova Scotia 6/24/2013 9/18/ ,000, ,988, ,979, , Toyota Motor Credit Corp. 6/25/2013 8/26/ ,000, ,995, ,988, , Toronto Domin Ny 6/27/2013 9/3/ ,000, ,993, ,987, , Toyota Motor Credit Corp. 6/27/2013 8/29/ ,000, ,992, ,982, , Toyota Motor Credit Corp. 6/27/2013 8/30/ ,000, ,998, ,996, , Union Bank of California 6/27/2013 9/3/ ,000, ,992, ,984, , Toronto Domin Ny 6/27/2013 9/3/ ,000, ,997, ,993, , Toronto Domin Ny 6/27/2013 9/4/ ,000, ,996, ,993, , Toronto Domin Ny 6/27/2013 9/5/ ,000, ,996, ,993, ,

5 Investment Inventory with Market Value Issuer Purchase Maturity Coupon YTM Par Value Current Book Market Value Current Unrealized Date Date Accr Int Gain/Loss Fortis/BNP Paribas Bank 7/29/2013 8/29/ ,000, ,994, ,993, Fortis/BNP Paribas Bank 7/30/2013 8/30/ ,000, ,983, ,981, , Union Bank of California 7/30/2013 8/5/ ,000, ,999, ,999, Societe Generale N.A. 7/31/2013 8/1/ ,000, ,000, ,999, Commercial Paper Subtotal ,000, ,924, ,844, , FFCB Federal Farm Credit Bank 3/5/2012 8/28/ ,684, ,684, ,659, , , Federal Farm Credit Bank 7/30/ /19/ ,855, ,850, ,889, , , Federal Farm Credit Bank 8/1/2012 8/1/ ,150, ,150, ,150, Federal Farm Credit Bank 10/10/ /9/ ,000, ,995, ,995, , Federal Farm Credit Bank 3/28/2013 4/30/ ,000, ,997, ,015, , , Federal Farm Credit Bank 7/9/2013 8/21/ ,000, ,024, ,031, , , FFCB Subtotal ,689, ,702, ,741, , , FFCB Discount Notes Federal Farm Credit Bank 11/1/ /1/ ,000, ,974, ,898, , Federal Farm Credit Bank 11/5/ /5/ ,000, ,973, ,898, , Federal Farm Credit Bank 6/20/2013 6/17/ ,000, ,933, ,924, , FFCB Discount Notes Subtotal ,000, ,881, ,721, , FHLB Federal Home Loan Bank 6/13/2011 3/11/ ,000, ,878, ,626, , , Federal Home Loan Bank 11/24/ /18/ ,000, ,999, ,187, , , Federal Home Loan Bank 7/13/2010 6/12/ ,685, ,997, ,739, , , Federal Home Loan Bank 10/8/2010 9/11/ ,000, ,105, ,412, , , Federal Home Loan Bank 10/8/2010 9/28/ ,000, ,069, ,376, , , Federal Home Loan Bank 12/13/2010 9/13/ ,000, ,996, ,036, , , Federal Home Loan Bank 8/10/2011 6/10/ ,000, ,264, ,603, , , Federal Home Loan Bank 3/19/2012 8/20/ ,000, ,998, ,001, , , Federal Home Loan Bank 3/6/2012 8/20/ ,000, ,998, ,003, , , Federal Home Loan Bank 7/30/2012 8/14/ ,000, ,999, ,003, , , Federal Home Loan Bank 8/9/2012 8/28/ ,000, ,019, ,031, , ,

6 Investment Inventory with Market Value Issuer Purchase Maturity Coupon YTM Par Value Current Book Market Value Current Unrealized Date Date Accr Int Gain/Loss Federal Home Loan Bank 8/15/2012 9/6/ ,000, ,000, ,008, , , Federal Home Loan Bank 8/15/2012 8/13/ ,650, ,650, ,651, , , Federal Home Loan Bank 8/15/2012 8/15/ ,000, ,000, ,002, , , Federal Home Loan Bank 8/29/2012 8/13/ ,160, ,160, ,160, , Federal Home Loan Bank 8/29/2012 8/20/ ,000, ,997, ,997, , Federal Home Loan Bank 8/29/2012 8/28/ ,000, ,010, ,015, , , Federal Home Loan Bank 9/20/2012 9/8/ ,000, ,847, ,290, , , Federal Home Loan Bank 9/26/2012 9/25/ ,000, ,987, ,987, , Federal Home Loan Bank 10/4/ /4/ ,000, ,996, ,996, , Federal Home Loan Bank 10/4/2012 9/6/ ,000, ,001, ,003, , , Federal Home Loan Bank 10/4/ /4/ ,000, ,996, ,996, , Federal Home Loan Bank 10/4/2012 9/12/ ,000, ,002, ,005, , , Federal Home Loan Bank 10/4/ /4/ ,000, ,999, ,999, , Federal Home Loan Bank 10/18/ /18/ ,000, ,998, ,998, , Federal Home Loan Bank 11/26/ /18/ ,000, ,008, ,017, , , Federal Home Loan Bank 11/26/ /18/ ,000, ,026, ,064, , , Federal Home Loan Bank 2/7/2013 1/29/ ,000, ,009, ,012, , Federal Home Loan Bank 3/28/2013 6/20/ ,000, ,163, ,169, , , Federal Home Loan Bank 3/28/2013 6/18/ ,195, ,002, ,015, , , Federal Home Loan Bank 4/12/2013 9/12/ ,000, ,999, ,001, , , Federal Home Loan Bank 4/12/2013 9/26/ ,000, ,007, ,007, , Federal Home Loan Bank 4/12/2013 7/2/ ,000, ,096, ,105, , , Federal Home Loan Bank 4/16/2013 8/13/ ,000, ,638, ,670, , , Federal Home Loan Bank 6/21/2013 6/13/ ,975, ,975, ,975, , Federal Home Loan Bank 6/28/2013 6/26/ ,000, ,981, ,981, , Federal Home Loan Bank 7/10/2013 7/10/ ,000, ,998, ,998, , Federal Home Loan Bank 7/11/2013 7/11/ ,000, ,994, ,994, , Federal Home Loan Bank 7/17/2013 7/17/ ,000, ,996, ,996, , Federal Home Loan Bank 7/31/2013 7/25/ ,000, ,976, ,976, , Federal Home Loan Bank 7/31/2013 7/25/ ,000, ,008, ,008, , Federal Home Loan Bank 5/2/2013 5/2/ ,350, ,350, ,255, , , Federal Home Loan Bank 6/19/ /19/ ,000, ,000, ,786, , , Federal Home Loan Bank 6/20/2013 6/20/ ,000, ,000, ,885, , ,

7 Investment Inventory with Market Value Issuer Purchase Maturity Coupon YTM Par Value Current Book Market Value Current Unrealized Date Date Accr Int Gain/Loss FHLB Subtotal ,607,015, ,611,208, ,613,056, ,991, ,847, FHLB Discount Notes Federal Home Loan Bank 6/20/2013 6/17/ ,000, ,943, ,935, , Federal Home Loan Bank 6/27/ /11/ ,000, ,962, ,953, , Federal Home Loan Bank 6/27/ /20/ ,700, ,695, ,694, , FHLB Discount Notes Subtotal ,700, ,601, ,583, , FHLMC Fed Home Loan Mortg Corp. 9/15/2010 7/28/ ,000, ,247, ,412, , , Fed Home Loan Mortg Corp. 9/4/2009 7/28/ ,000, ,074, ,550, , , Fed Home Loan Mortg Corp. 8/13/2010 2/9/ ,000, ,400, ,788, , , Fed Home Loan Mortg Corp. 10/6/ /25/ ,000, ,992, ,352, , , Fed Home Loan Mortg Corp. 12/16/2011 1/19/ ,000, ,376, ,556, , , Fed Home Loan Mortg Corp. 9/26/ /28/ ,000, ,079, ,095, , , Fed Home Loan Mortg Corp. 9/26/ /28/ ,307, ,404, ,423, , , Fed Home Loan Mortg Corp. 10/4/2012 9/27/ ,565, ,641, ,644, , , Fed Home Loan Mortg Corp. 10/18/ /1/ ,000, ,981, ,668, , , Fed Home Loan Mortg Corp. 4/12/ /6/ ,000, ,759, ,765, , , Fed Home Loan Mortg Corp. 6/28/2013 7/15/ ,102, ,701, ,706, , , Fed Home Loan Mortg Corp. 7/9/2013 8/20/ ,816, ,007, ,007, , Fed Home Loan Mortg Corp. 7/9/2013 7/28/ ,000, ,639, ,633, , , Fed Home Loan Mortg Corp. 2/24/2012 8/21/ ,945, ,903, ,014, , , Fed Home Loan Mortg Corp. 7/25/2012 7/25/ ,000, ,998, ,818, , , Fed Home Loan Mortg Corp. 2/13/2012 2/13/ ,000, ,000, ,104, , , Fed Home Loan Mortg Corp. 5/17/2012 3/6/ ,000, ,018, ,080, , , Fed Home Loan Mortg Corp. 12/5/2012 2/13/ ,000, ,051, ,083, , , Fed Home Loan Mortg Corp. 1/16/2013 1/23/ ,500, ,578, ,586, , , Fed Home Loan Mortg Corp. 2/11/2013 8/14/ ,500, ,526, ,525, , Fed Home Loan Mortg Corp. 5/15/2013 8/8/ ,000, ,017, ,018, , Fed Home Loan Mortg Corp. 5/23/2013 8/14/ ,910, ,915, ,915, , Fed Home Loan Mortg Corp. 7/25/ /25/ ,000, ,000, ,169, , , Fed Home Loan Mortg Corp. 3/12/2012 3/12/ ,000, ,000, ,145, , ,

8 Investment Inventory with Market Value Issuer Purchase Maturity Coupon YTM Par Value Current Book Market Value Current Unrealized Date Date Accr Int Gain/Loss Fed Home Loan Mortg Corp. 3/12/2012 3/12/ ,000, ,000, ,145, , , Fed Home Loan Mortg Corp. 5/29/ /25/ ,000, ,000, ,806, , , FHLMC Subtotal ,645, ,315, ,017, ,823, ,701, FHLMC Discount Notes Fed Home Loan Mortg Corp. 6/21/2013 6/13/ ,000, ,929, ,920, , FHLMC Discount Notes Subtotal ,000, ,929, ,920, , FNMA Fed National Mortg Assoc 3/10/2011 9/23/ ,000, ,995, ,032, , , Fed National Mortg Assoc 3/10/2011 8/20/ ,000, ,006, ,036, , , Fed National Mortg Assoc 8/13/2010 4/15/ ,000, ,124, ,589, , , Fed National Mortg Assoc 11/18/ /20/ ,000, ,352, ,633, , , Fed National Mortg Assoc 4/27/ /8/ ,000, ,010, ,096, , , Fed National Mortg Assoc 10/6/2011 9/28/ ,000, ,979, ,308, , , Fed National Mortg Assoc 11/15/ /15/ ,000, ,041, ,237, , , Fed National Mortg Assoc 1/17/ /15/ ,000, ,174, ,316, , , Fed National Mortg Assoc 8/27/2012 8/20/ ,729, ,774, ,779, , , Fed National Mortg Assoc 9/20/2012 5/27/ ,000, ,169, ,185, , , Fed National Mortg Assoc 10/4/ /15/ ,000, ,226, ,233, , , Fed National Mortg Assoc 11/7/ /30/ ,000, ,101, ,126, , , Fed National Mortg Assoc 11/26/ /18/ ,000, ,051, ,065, , , Fed National Mortg Assoc 2/7/2013 3/17/ ,000, ,173, ,170, , , Fed National Mortg Assoc 4/12/ /15/ ,000, ,647, ,655, , , Fed National Mortg Assoc 6/10/2013 7/5/ ,000, ,630, ,478, , , Fed National Mortg Assoc 6/21/2013 6/27/ ,000, ,214, ,223, , , Fed National Mortg Assoc 6/28/2013 6/27/ ,000, ,414, ,446, , , Fed National Mortg Assoc 3/12/2012 3/6/ ,000, ,986, ,992, , , Fed National Mortg Assoc 5/14/ /14/ ,000, ,995, ,729, , , Fed National Mortg Assoc 5/28/ /14/ ,500, ,497, ,462, , , Fed National Mortg Assoc 5/28/ /14/ ,513, ,507, ,431, , , Fed National Mortg Assoc 12/5/2012 6/5/ ,000, ,000, ,997, , , Fed National Mortg Assoc 3/14/2013 3/14/ ,000, ,000, ,812, , ,

9 Investment Inventory with Market Value Issuer Purchase Maturity Coupon YTM Par Value Current Book Market Value Current Unrealized Date Date Accr Int Gain/Loss Fed National Mortg Assoc 7/17/2012 7/17/ ,000, ,991, ,841, , , Fed National Mortg Assoc 12/27/ /27/ ,000, ,946, ,083, , , Fed National Mortg Assoc 3/28/2013 3/28/ ,000, ,976, ,281, , , Fed National Mortg Assoc 4/30/2013 4/30/ ,000, ,983, ,585, , ,397, Fed National Mortg Assoc 4/30/2013 4/30/ ,000, ,000, ,585, , ,414, Fed National Mortg Assoc 5/16/2013 4/30/ ,000, ,924, ,292, , , Fed National Mortg Assoc 5/28/2013 4/29/ ,000, ,996, ,841, , , Fed National Mortg Assoc 7/24/ /24/ ,000, ,997, ,049, , , Fed National Mortg Assoc 11/29/ /29/ ,755, ,755, ,220, , , Fed National Mortg Assoc 12/18/ /18/ ,000, ,000, ,493, , , Fed National Mortg Assoc 12/27/ /27/ ,000, ,000, ,657, , , Fed National Mortg Assoc 2/21/2013 2/21/ ,000, ,000, ,196, , , Fed National Mortg Assoc 5/1/2013 9/13/ ,000, ,014, ,881, , , Fed National Mortg Assoc 5/22/2013 8/22/ ,000, ,000, ,760, , , Fed National Mortg Assoc 7/29/2013 7/29/ ,000, ,000, ,039, , , Fed National Mortg Assoc 7/29/2013 7/29/ ,000, ,000, ,039, , , FNMA Subtotal ,250,497, ,255,663, ,248,885, ,124, ,777, FNMA Discount Notes Fed National Mortg Assoc 3/11/2013 1/31/ ,000, ,988, ,979, , Fed National Mortg Assoc 6/27/ /11/ ,000, ,977, ,971, , FNMA Discount Notes Subtotal ,000, ,966, ,951, , Money Market Funds Caltrust 7/31/2013 8/1/ ,000, ,000, ,105, , , Black Rock 7/31/2013 8/1/ ,600, ,600, ,600, Morgan Stanley 7/31/2013 8/1/ ,125, ,125, ,125, , Money Market Funds Subtotal ,725, ,725, ,830, , , Negotiable CD Svenska Hndl NY 5/16/2013 8/8/ ,000, ,000, ,000, , Bank of Montreal 6/12/2013 8/12/ ,000, ,000, ,000, , Bank of Montreal 6/12/2013 8/16/ ,000, ,000, ,000, ,

10 Investment Inventory with Market Value Issuer Purchase Maturity Coupon YTM Par Value Current Book Market Value Current Unrealized Date Date Accr Int Gain/Loss Svenska Hndl NY 6/24/2013 9/19/ ,000, ,001, ,000, , Bank of Montreal 6/24/2013 9/11/ ,000, ,000, ,000, , Bank of Montreal 6/24/2013 9/10/ ,000, ,000, ,000, , Svenska Hndl NY 6/26/2013 9/19/ ,000, ,000, ,000, , Svenska Hndl NY 6/26/2013 9/23/ ,000, ,000, ,000, , BB&T Capital Markets 6/28/ /1/ ,000, ,000, ,000, , Union Bank of California 7/3/2013 8/2/ ,315, ,315, ,315, , Bank of Montreal 7/8/2013 9/16/ ,000, ,000, ,000, , Bank of Montreal 7/8/2013 9/3/ ,000, ,000, ,000, , Svenska Hndl NY 7/8/ /1/ ,000, ,000, ,000, , Bank of Montreal 7/8/2013 8/7/ ,000, ,000, ,000, , Bank of Nova Scotia 7/9/ /7/ ,000, ,000, ,000, , Union Bank of California 7/18/ /11/ ,000, ,000, ,000, , Union Bank of California 7/18/ /2/ ,000, ,000, ,000, , Bank of Nova Scotia 7/29/2013 9/30/ ,000, ,000, ,000, BB&T Capital Markets 7/30/ /11/ ,000, ,000, ,000, Bank of Montreal 7/30/2013 9/30/ ,000, ,000, ,000, Bank of America 7/31/2013 8/30/ ,000, ,000, ,000, BB&T Capital Markets 7/31/ /25/ ,000, ,000, ,000, Negotiable CD Subtotal ,230,315, ,230,316, ,230,316, , Repurchase Agreements Wells Fargo Bank NA 7/31/2013 8/1/ ,452, ,452, ,452, Repurchase Agreements Subtotal ,452, ,452, ,452, US Treasury Notes U.S. Treasury Securities 10/12/2010 1/31/ ,000, ,197, ,303, , U.S. Treasury Securities 4/12/ /30/ ,000, ,824, ,224, , , U.S. Treasury Securities 4/3/2009 3/31/ ,000, ,001, ,162, , , U.S. Treasury Securities 4/3/ /31/ ,000, ,994, ,058, , , U.S. Treasury Securities 5/27/2009 8/31/ ,000, ,008, ,025, , , U.S. Treasury Securities 9/3/2009 8/31/ ,000, ,023, ,477, , , U.S. Treasury Securities 7/14/2010 6/30/ ,000, ,993, ,451, , ,

11 Investment Inventory with Market Value Issuer Purchase Maturity Coupon YTM Par Value Current Book Market Value Current Unrealized Date Date Accr Int Gain/Loss U.S. Treasury Securities 12/12/ /30/ ,000, ,000, ,044, , , U.S. Treasury Securities 3/12/2012 2/28/ ,000, ,984, ,004, , , U.S. Treasury Securities 6/8/2012 5/15/ ,000, ,097, ,978, , , U.S. Treasury Securities 1/7/ /31/ ,000, ,959, ,708, , , U.S. Treasury Securities 4/5/2013 5/31/ ,000, ,588, ,500, , , U.S. Treasury Securities 6/7/2013 2/28/ ,000, ,859, ,662, , , U.S. Treasury Securities 9/22/2011 8/31/ ,000, ,042, ,103, , , U.S. Treasury Securities 9/22/2011 2/29/ ,000, ,359, ,425, , , U.S. Treasury Securities 10/12/2012 7/31/ ,000, ,907, ,681, , U.S. Treasury Securities 6/7/2013 5/31/ ,000, ,994, ,760, , , U.S. Treasury Securities 6/7/ /31/ ,000, ,626, ,458, , , U.S. Treasury Notes Subtotal ,000, ,465, ,030, ,023, , Grand Total ,930,651, ,947,768, ,944,964, ,296, ,803, Note: Market Value source is Bank of New York Mellon 11

12 Purchases/Sales/Maturities Deal Instrument Issuer Coupon Transaction Settlement Settlement Number Type Type Amount Date 56 Money Market Funds Black Rock 0.01 Sell 75,000, /1/ Money Market Funds Morgan Stanley 0.01 Sell 52,325, /1/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 20,508, /1/ FNMA DN Fed National Mortg Assoc 0.10 Maturity 50,000, /1/ FNMA DN Fed National Mortg Assoc 0.10 Maturity 50,000, /1/ Negotiable CD BB&T Capital Markets 0.15 Maturity 50,000, /1/ Commercial Paper Deutsche Bank Securities Inc Purchase (99,999,722.22) 7/1/ Money Market Funds Black Rock 0.01 Purchase (145,000,000.00) 7/1/ Money Market Funds Morgan Stanley 0.01 Purchase (102,325,000.00) 7/1/ Repurchase Agreements Wells Fargo Bank NA 0.02 Purchase (1,583,015.60) 7/2/ Commercial Paper Bank of Nova Scotia 0.15 Maturity 50,000, /2/ Commercial Paper Deutsche Bank Securities Inc Maturity 100,000, /2/ Money Market Funds Black Rock 0.01 Maturity 113,500, /2/ Money Market Funds Morgan Stanley 0.01 Maturity 75,000, /2/ Commercial Paper Deutsche Bank Securities Inc Purchase (309,999,052.78) 7/2/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 925, /3/ FHLMC CALL EURO PREM Fed Home Loan Mortg Corp Call 8,550, /3/ Commercial Paper Toronto Domin Ny 0.16 Maturity 65,000, /3/ Commercial Paper Toyota Motor Credit Corp Maturity 95,000, /3/ Negotiable CD BB&T Capital Markets 0.14 Maturity 45,000, /3/ Commercial Paper Union Bank of California 0.12 Maturity 145,000, /3/ Commercial Paper Bank of Nova Scotia 0.15 Maturity 50,000, /3/ Negotiable CD Bank of Montreal 0.15 Maturity 100,000, /3/ Money Market Funds Black Rock 0.01 Purchase (50,000,000.00) 7/3/ Money Market Funds Morgan Stanley 0.01 Purchase (49,000,000.00) 7/3/ Commercial Paper Deutsche Bank Securities Inc Maturity 310,000, /3/ Commercial Paper Deutsche Bank Securities Inc Purchase (99,999,388.89) 7/3/ Commercial Paper Deutsche Bank Securities Inc Purchase (74,999,541.67) 7/3/ Negotiable CD Union Bank of California 0.15 Purchase (145,315,000.00) 7/3/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 1,211, /5/ Commercial Paper Bank of Nova Scotia 0.15 Maturity 50,000, /5/ Money Market Funds Black Rock 0.01 Maturity 50,000, /5/ Money Market Funds Morgan Stanley 0.01 Maturity 12,800, /5/

13 Purchases/Sales/Maturities Deal Instrument Issuer Coupon Transaction Settlement Settlement Number Type Type Amount Date 1762 Commercial Paper Deutsche Bank Securities Inc Maturity 100,000, /5/ Commercial Paper Deutsche Bank Securities Inc Maturity 75,000, /5/ Commercial Paper Deutsche Bank Securities Inc Purchase (284,997,625.00) 7/5/ Repurchase Agreements Wells Fargo Bank NA 0.02 Purchase (704,961.53) 7/8/ Commercial Paper Union Bank of California 0.15 Maturity 55,000, /8/ Negotiable CD Fortis/BNP Paribas Bank 0.10 Maturity 50,000, /8/ Money Market Funds Black Rock 0.01 Maturity 16,400, /8/ Money Market Funds Morgan Stanley 0.01 Maturity 45,000, /8/ Commercial Paper Deutsche Bank Securities Inc Maturity 285,000, /8/ Negotiable CD Bank of Montreal 0.14 Purchase (50,000,000.00) 7/8/ Negotiable CD Bank of Montreal 0.14 Purchase (50,000,000.00) 7/8/ Negotiable CD Svenska Hndl NY 0.19 Purchase (75,003,581.81) 7/8/ Commercial Paper Deutsche Bank Securities Inc Purchase (249,999,305.56) 7/8/ Negotiable CD Bank of Montreal 0.15 Purchase (55,000,000.00) 7/8/ Repurchase Agreements Wells Fargo Bank NA 0.02 Purchase (5,293,704.47) 7/9/ Negotiable CD Bank of Montreal 0.15 Maturity 50,000, /9/ Negotiable CD Fortis/BNP Paribas Bank 0.11 Maturity 100,000, /9/ Money Market Funds Black Rock 0.01 Purchase (45,300,000.00) 7/9/ Commercial Paper Deutsche Bank Securities Inc Maturity 250,000, /9/ Commercial Paper Deutsche Bank Securities Inc Purchase (199,999,444.44) 7/9/ Negotiable CD Bank of Nova Scotia 0.17 Purchase (75,000,000.00) 7/9/ FHLMC Fed Home Loan Mortg Corp Purchase (23,106,391.35) 7/9/ FHLMC Fed Home Loan Mortg Corp Purchase (23,987,313.33) 7/9/ FFCB Federal Farm Credit Bank 0.30 Purchase (25,054,500.00) 7/9/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 3,875, /10/ Negotiable CD BB&T Capital Markets 0.14 Maturity 50,000, /10/ Money Market Funds Black Rock 0.01 Maturity 2,800, /10/ Commercial Paper Deutsche Bank Securities Inc Maturity 200,000, /10/ Commercial Paper Deutsche Bank Securities Inc Purchase (199,999,444.44) 7/10/ FHLB Federal Home Loan Bank 0.19 Purchase (49,998,750.00) 7/10/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 1,371, /11/ Money Market Funds Black Rock 0.01 Maturity 16,200, /11/ Commercial Paper Deutsche Bank Securities Inc Maturity 200,000, /11/

14 Purchases/Sales/Maturities Deal Instrument Issuer Coupon Transaction Settlement Settlement Number Type Type Amount Date 1778 FHLB Federal Home Loan Bank 0.19 Purchase (74,994,000.00) 7/11/ Commercial Paper Deutsche Bank Securities Inc Purchase (134,999,625.00) 7/11/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 1,848, /12/ FNMA Fed National Mortg Assoc 3.88 Maturity 25,000, /12/ Money Market Funds Morgan Stanley 0.01 Maturity 13,800, /12/ Commercial Paper Deutsche Bank Securities Inc Maturity 135,000, /12/ Commercial Paper Deutsche Bank Securities Inc Purchase (214,998,208.33) 7/12/ Repurchase Agreements Wells Fargo Bank NA 0.02 Purchase (10,995,275.50) 7/15/ Money Market Funds Black Rock 0.01 Maturity 200, /15/ Commercial Paper Deutsche Bank Securities Inc Maturity 215,000, /15/ Commercial Paper Deutsche Bank Securities Inc Purchase (214,999,402.78) 7/15/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 10,603, /16/ Money Market Funds Black Rock 0.01 Purchase (4,800,000.00) 7/16/ Money Market Funds Morgan Stanley 0.01 Maturity 100, /16/ Commercial Paper Deutsche Bank Securities Inc Maturity 215,000, /16/ Commercial Paper Deutsche Bank Securities Inc Purchase (209,999,416.67) 7/16/ Repurchase Agreements Wells Fargo Bank NA 0.02 Purchase (1,678,879.25) 7/17/ FHLMC CALL EURO PREM Fed Home Loan Mortg Corp Call 11,500, /17/ FHLMC CALL EURO PREM Fed Home Loan Mortg Corp Call 32,000, /17/ Money Market Funds Black Rock 0.01 Maturity 8,700, /17/ Commercial Paper Deutsche Bank Securities Inc Maturity 210,000, /17/ Commercial Paper Deutsche Bank Securities Inc Purchase (184,999,486.11) 7/17/ FHLB Federal Home Loan Bank 0.19 Purchase (49,996,200.00) 7/17/ Commercial Paper Deutsche Bank Securities Inc Purchase (19,999,944.44) 7/17/ FFCB DN Federal Farm Credit Bank 0.20 Maturity 10,000, /18/ FFCB DN Federal Farm Credit Bank 0.20 Maturity 10,000, /18/ FHLB Federal Home Loan Bank 0.25 Maturity 50,000, /18/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 1,043, /18/ Money Market Funds Morgan Stanley 0.01 Purchase (3,800,000.00) 7/18/ Commercial Paper Deutsche Bank Securities Inc Maturity 185,000, /18/ Commercial Paper Deutsche Bank Securities Inc Maturity 20,000, /18/ Commercial Paper Deutsche Bank Securities Inc Purchase (229,999,361.11) 7/18/ Negotiable CD Union Bank of California 0.17 Purchase (25,000,000.00) 7/18/

15 Purchases/Sales/Maturities Deal Instrument Issuer Coupon Transaction Settlement Settlement Number Type Type Amount Date 1788 Negotiable CD Union Bank of California 0.17 Purchase (50,000,000.00) 7/18/ FFCB DN Federal Farm Credit Bank 0.20 Maturity 10,000, /19/ Repurchase Agreements Wells Fargo Bank NA 0.02 Purchase (2,241,184.68) 7/19/ Money Market Funds Morgan Stanley 0.01 Purchase (5,000,000.00) 7/19/ Commercial Paper Deutsche Bank Securities Inc Maturity 230,000, /19/ Commercial Paper Societe Generale N.A Purchase (159,998,666.67) 7/19/ Repurchase Agreements Wells Fargo Bank NA 0.02 Purchase (1,694,058.06) 7/22/ Coll CD Ca Bank and Trust 0.11 Maturity 10,000, /22/ Money Market Funds Black Rock 0.01 Purchase (18,100,000.00) 7/22/ Commercial Paper Societe Generale N.A Maturity 160,000, /22/ Commercial Paper Deutsche Bank Securities Inc Purchase (149,999,583.33) 7/22/ Coll CD Ca Bank and Trust 0.07 Purchase (10,000,000.00) 7/22/ Repurchase Agreements Wells Fargo Bank NA 0.02 Purchase (1,929,146.90) 7/23/ Money Market Funds Black Rock 0.01 Maturity 13,600, /23/ Commercial Paper Deutsche Bank Securities Inc Maturity 150,000, /23/ Commercial Paper Deutsche Bank Securities Inc Purchase (139,999,611.11) 7/23/ Coll CD ACT-365 Comerica Bank 0.50 Maturity 15,000, /24/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 1,595, /24/ Commercial Paper Deutsche Bank Securities Inc Maturity 140,000, /24/ Commercial Paper Deutsche Bank Securities Inc Purchase (109,999,694.44) 7/24/ FNMA CALLABLE DISC Fed National Mortg Assoc 1.00 Purchase (28,997,100.00) 7/24/ Coll CD ACT-365 Comerica Bank 0.20 Purchase (15,000,000.00) 7/24/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 3,878, /25/ Negotiable CD Fortis/BNP Paribas Bank 0.15 Maturity 50,000, /25/ Money Market Funds Morgan Stanley 0.01 Purchase (11,100,000.00) 7/25/ Commercial Paper Deutsche Bank Securities Inc Maturity 110,000, /25/ Commercial Paper Deutsche Bank Securities Inc Purchase (99,999,722.22) 7/25/ FHLMC CALL EURO PREM Fed Home Loan Mortg Corp Purchase (50,000,000.00) 7/25/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 364, /26/ Negotiable CD Fortis/BNP Paribas Bank 0.15 Maturity 50,000, /26/ Money Market Funds Black Rock 0.01 Purchase (46,000,000.00) 7/26/ Money Market Funds Morgan Stanley 0.01 Purchase (40,000,000.00) 7/26/ Commercial Paper Deutsche Bank Securities Inc Maturity 100,000, /26/

16 Purchases/Sales/Maturities Deal Instrument Issuer Coupon Transaction Settlement Settlement Number Type Type Amount Date 1796 Commercial Paper Deutsche Bank Securities Inc Purchase (99,999,166.67) 7/26/ FHLB Federal Home Loan Bank 1.00 Maturity 40,050, /29/ Repurchase Agreements Wells Fargo Bank NA 0.02 Maturity 958, /29/ Money Market Funds Black Rock 0.01 Maturity 36,000, /29/ Money Market Funds Morgan Stanley 0.01 Maturity 25,000, /29/ Commercial Paper Deutsche Bank Securities Inc Maturity 100,000, /29/ Negotiable CD Bank of Nova Scotia 0.11 Purchase (80,000,000.00) 7/29/ Commercial Paper Deutsche Bank Securities Inc Purchase (99,999,722.22) 7/29/ Commercial Paper Fortis/BNP Paribas Bank 0.14 Purchase (49,993,972.22) 7/29/ FNMA CALLABLE PREM Fed National Mortg Assoc 1.00 Purchase (25,000,000.00) 7/29/ FNMA CALLABLE PREM Fed National Mortg Assoc 1.00 Purchase (25,000,000.00) 7/29/ Commercial Paper Deutsche Bank Securities Inc Purchase (49,999,861.11) 7/29/ Repurchase Agreements Wells Fargo Bank NA 0.02 Purchase (5,149,241.36) 7/30/ Money Market Funds Morgan Stanley 0.01 Maturity 11,400, /30/ Commercial Paper Deutsche Bank Securities Inc Maturity 100,000, /30/ Commercial Paper Deutsche Bank Securities Inc Maturity 50,000, /30/ Negotiable CD BB&T Capital Markets 0.11 Purchase (100,000,000.00) 7/30/ Commercial Paper Deutsche Bank Securities Inc Purchase (199,999,444.44) 7/30/ Commercial Paper Fortis/BNP Paribas Bank 0.14 Purchase (149,981,916.67) 7/30/ Commercial Paper Union Bank of California 0.05 Purchase (59,999,500.00) 7/30/ Negotiable CD Bank of Montreal 0.12 Purchase (50,000,000.00) 7/30/ Repurchase Agreements Wells Fargo Bank NA 0.02 Purchase (7,208,760.91) 7/31/ Negotiable CD BB&T Capital Markets 0.13 Maturity 50,000, /31/ Commercial Paper Bank of Nova Scotia 0.13 Maturity 25,000, /31/ Money Market Funds Black Rock 0.01 Maturity 28,200, /31/ Commercial Paper Deutsche Bank Securities Inc Maturity 200,000, /31/ Commercial Paper Societe Generale N.A Purchase (174,999,659.72) 7/31/ Negotiable CD Bank of America 0.17 Purchase (50,000,000.00) 7/31/ Negotiable CD BB&T Capital Markets 0.12 Purchase (75,000,000.00) 7/31/ FHLB Federal Home Loan Bank 0.13 Purchase (49,977,791.67) 7/31/ FHLB Federal Home Loan Bank 0.19 Purchase (51,010,285.00) 7/31/2013 Grand Total (279,994,287.90) 16

17 Cash Flow Analysis San Diego Pooled Money Fund as of July 31, 2013 ($000) Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Beginning Pool Book Balance 6,669,616 6,930,652 6,309,232 5,893,863 5,621,254 5,797,331 6,558,418 MAIN CASH FLOW ITEMS INFLOWS: Reverse Repos Interest Income On Pool 2,645 2,595 2,800 4,500 2,325 3,000 3,000 Taxes Collected 51,231 60,000 30, , ,000 1,550, ,000 School Deposits 1,532, , , , , , ,000 County Deposits 289, , , , , , ,000 Retirement 81, Voluntaries 103, , Maturities/Sales Outside Pool 32, ,093, , , ,139 1,114,107 1,985, ,000 OUTFLOWS: Schools 922, , , , , , ,000 County 483, , , , , , ,000 Retirement 388,669 7,500 7,000 7,500 7,000 7,000 7,000 Voluntaries 9,839 36,063 33,679 39,435 14,030 18,175 15,000 Tax Apportionment 7,774 14,000 10,500 12,500 40, , ,000 Reverse Repos Purchases/ Purchases Outside of Pool 30, ,842,383 1,147, , , ,030 1,224,370 1,490,000 TOTAL 251,540 (621,420) (415,369) (272,609) 176, ,087 (842,000) PROJECTED/ACTUAL MONTH END POOL BALANCE 6,930,652 6,309,232 5,893,863 5,621,254 5,797,331 6,558,418 5,716,418 LIQUIDITY PROJECTIONS INCREASE / DECREASE DUE TO INVESTMENT ACTIVITY Maturities 2,633,000 1,061, , , ,700 50,000 Sales/Calls Investments Purchased 325, ,500 25, ,000 2,958,000 1,172, , , ,700 75,000 Net Main Cash Flow (see above) 251,540 (621,420) (415,369) (272,609) 176, ,087 (842,000) PROJECTED/ACTUAL MONTH END LIQUIDITY 99,177 2,435,757 3,192,443 3,592,641 3,975,603 4,994,390 4,227,390 Note: The above is not meant to be a complete Cash Flow Statement. The data represents a subset of the main cash flow items and does not include accrued interest or other adjustment items. 17

18 Participant Cash Balances San Diego Pooled Money Fund as of July 31, 2013 ($000) FMV FMV FMV % of FMV FMV FMV % of PARTICIPANT 05/31/13 06/30/13 07/31/13 Total PARTICIPANT 05/31/13 06/30/13 07/31/13 Total COUNTY $ 889,082 $ 618,878 $ 685, % Metropolitan Transit System 5,180 4,644 4,505 COUNTY - SPECIAL TRUST FUNDS 1,694,218 1,775,882 1,339, % Majestic Pines CSD % NON-COUNTY INVESTMENT FUNDS 328, , , % Mission Resource Conservation District % SCHOOLS - (K THRU 12) 2,686,316 2,864,716 3,091, % North County Cemetery District 1,367 1,397 1, % North County Cemetry Perpetual 1,442 1,445 1, % COMMUNITY COLLEGES North County Cemetery 1,297 1,531 1, % San Diego 157, , , % North County Dispatch 2,449 2,161 1, % Grossmont 27,418 36,488 45, % North County Fire 3,625 2,217 2, % Mira Costa 38,460 27,982 28, % Otay Water District Investment 20,092 19,983 20, % Palomar 154, , , % Palomar Resource Conservation District % Southwestern 158, , , % Pine Valley FPD % Total Community Colleges 537, , , % Pomerado Cem Perpetual % Pomerado Cemetery District 1,502 1,574 1, % SDCERA 3,991 4,167 4, % Ramona Cemetery District % SANCAL 55,341 53,147 72, % Ramona Cemetery Perpetual % MTDB % Rancho Santa Fe FPD 12,302 11,723 11, % SANDAG 105, , , % San Diego Housing Commission 2,378 2,365 2, % San Diego Rural Fire % CITIES San Dieguito River % Chula Vista 39,031 38,820 39, % San Marcos FPD % Del Mar 3,011 2,995 3, % San Miguel FPD 7,918 5,527 6, % Encinitas % San Ysidro Sanitation % National City 4,995 4,968 4, % Santa Fe Irrigation District 3,994 3,973 4, % SDC Regional Airport Authority 262, , , % INDEPENDENT AGENCIES 0.02% So County OPS Center % Alpine FPD 1,617 1,439 1, % Spring Valley/Casa de Oro 2, % Bonita Sunnyside FPD 4,730 4,441 4, % Upper San Luis Rey Reservoir % Borrego Springs FPD 1,434 1,465 1, % Vallecitos Water District 5,048 5,021 5, % Deer Springs FPD 7,302 6,655 6, % Valley Center FPD 4,264 3,980 3, % Fallbrook Public Utl % Valley Cntr Cemetery % Public Agency Self Insurance System % Valley Ctr Cem Perpetual % Julian-Cuyamaca FPD % Valley Ctr Water District 11,062 12,414 13, % Lake Cuyamaca Rec & Park % Vista FPD 2,092 2,081 2, % Lakeside Fire 9,052 8,873 8, % Total Independent Agencies 602, , , % Leucadia Water District 11,288 11,227 11, % Lower Sweetwater FPD % Pooled Money Fund Total $ 6,738,408 $ 6,663,276 $ 6,944, % 18

19 Pooled Money Fund Participants San Diego Pooled Money Fund as of July 31, 2013 Community Colleges 13.90% County Funds 29.16% Non County Funds 3.69% Schools 44.52% Voluntary Depositors 8.73% County Funds Non County Funds Voluntary Depositors Schools Community Colleges 19

20 Pooled Money Fund - Asset Allocation San Diego Pooled Money Fund as of July 31, 2013 Money Market Funds 1.25% Negotiable CD 17.71% Repurchase Agreements 0.18% U.S. Treasury Notes 3.53% FDIC CDs 0.93% Commercial Paper 13.31% Federal Agency 63.09% FDIC CDs Commercial Paper Federal Agency Money Market Funds Negotiable CD Repurchase Agreements U.S. Treasury Notes 20

21 Pooled Money Fund Assets - Credit Quality San Diego Pooled Money Fund as of July 31, 2013 A- 1, 18.36% AAA, 1.34% AA+, 51.69% AAA AA+ AA A- 1+ A- 1 A- 1+, 28.10% AA, 0.51% 21

22 Investment Policy Compliance Standards San Diego Pooled Money Fund as of July 31, 2013 Category Standard Comment Treasury Issues No Limit; 5% per issue Complies - 3.5% Agency Issues 5% per issue, 35% per issuer Complies % Local Agency Obligations 5% per issue, 10% per issuer; 15% max.; SP-1/A or MIG1/A or F1/A minimum rating Complies Banker s Acceptances 2.5% per issue, 5% per issuer; 40% max.; A-1 or P-1 or F1 minimum rating Complies Commercial Paper 2.5% per issue>5 days; 5% per issue <5 days; 5% per issuer maximum; 40% max.; A-1 or P-1 or F1 Complies % minimum rating Medium Term Notes 2.5% per issue, 5% per issuer; 30% max.; A-1/A or P-1/A or F1/ A minimum rating Complies Negotiable Certificates of Deposit 2.5% per issue, 5% per issuer; 30% max.; A-1/A or P-1/A or F1/ A minimum rating Complies % Repurchase Agreements 1-year maximum maturity; 10% per issue>5 days; 15% per issue <5 days; 10% per issuer>6 days; 15% Complies - 0.2% per issuer <6 days; 40% maximum Reverse Repurchase Agreements 92-day maximum maturity; 5% per issue; 10% per issuer; 20% maximum combined with Securities N/A Lending Collateralized Certificates of Deposit 1-year maximum maturity; 10% max.; 110% collateral required Complies - 0.9% Covered Call Option/ Put Option 90-day maximum maturity;10% maximum N/A Money Market Mutual Funds 10% per fund; 15% maximum; AAAm, or Aaa-mf, or AAAmmf minimum rating Complies - 0.7% Investment Trust of California - Cal Trust 2.5% maximum Complies - 0.5% Pass-Through Securities Non-mortgaged backed; 2.5% per issue, 5% per issuer; 20% max.; A-rated issuer; A-1/AA or P-1/Aa or Complies F1/AA minimum issue rating Maximum maturity 5 years Complies Illiquidity Limitations 20% maximum for combined categories for Local Agency Obligations and Collateralized CDs Complies Maximum Issuer Exposure 10% per issuer combined (5%per any asset category, exclusive of Treasury, Agency, and Repurchase Complies Agreements) Maturity Policy - Portfolio Structure Minimum 25% 90 days; and minimum 50% 1 year; maximum effective duration for portfolio 1.5 years Complies Prohibited Securities Inverse floaters; Ranges notes, Interest-only strips from mortgaged backed securities; Zero interest accrual Complies securities Credit Rating Policy - monitoring ratings Overall credit rating of AAAf / S1, by Standard & Poors Complies Securities Lending 92-day maximum maturity; 5% per loan; 10% per counterparty; 20% maximum combined with Reverse Repurchase Agreements N/A 22