BOARD OF SUPERVISORS AGENDA LETTER

Transcription

1 BOARD OF SUPERVISORS AGENDA LETTER Clerk of the Board of Supervisors 05 E. Anapamu Street, Suite 407 Santa Barbara, CA 930 (805) Agenda Number: Department Name: Department No.: For Agenda Of: Placement: Estimated Tme: Continued Item: If Yes, date from: Vote Required: Treasurer - Tax Collector 065 /7/5 Administrative No Majority TO: FROM: Board of Supervisors Department Director(s) Contact Info: Harry E. Hagen, CPA, CPFO, ACPFIM, CFIP, Treasurer - Tax Collector Jennifer C. Christensen, JD MBA CPFO CFIP, Investment and Debt Officer SUBJECT: Treasurer's Investment Pool, FY First Quarter (July - September 205) County Counsel Concurrence As to form: N/A Other Concurrence: As to form: N/A Auditor-Controller Concurrence As to form: N/A Recommended Actions: That the Board of Supervisors: A) Accept for filing the Fiscal Year First Quarter (July - September 205) report on the Treasurer s Investment Pool, pursuant to Government Code section 53646(b). Summary Text: The value of the Treasurer s Investment Pool at principal cost on September 30, 205, was $965,740,860. Market value of the investment pool was $966,766,96. The weighted average days-to-maturity (WAM) for the investment pool was 360 days. The Treasurer s Investment Pool earned $,30,97 for the quarter ending September 30, 205, an annualized return of 0.44%. The net yield earned over the past year is 0.39%. Per Government Code Section , the Santa Barbara County Treasurer has a mandated responsibility to manage and invest public funds with the primary objective of safeguarding principal, the secondary objective of meeting the liquidity needs of pool participants, and thirdly, the objective of attaining a market average rate of return, consistent with the primary objectives of safety and liquidity.

2 Page 2 of 2 For the quarter ending September 30, 205, the Treasurer s Investment Pool anticipated and met all liquidity requirements, precluding any need to sell holdings unexpectedly at a potential loss in order to meet cash flow demands. All investments purchased, met or exceeded state and local policy requirements for credit quality. Credit quality of assets held in the Treasurer s Investment Pool is monitored on an ongoing basis. The Santa Barbara County Treasurer conforms to all applicable State statutes and County resolutions that govern the investment of public funds. Background: This quarterly report is being submitted to you pursuant to California Government Code section (b). In addition, California Government Code section (b) (3) requires the Treasurer-Tax Collector to include a statement in the Treasurer s Report affirming the ability of the Santa Barbara County Investment Pool to meet expenditure requirements for the next six months. This report was reviewed and discussed by the Treasury Oversight Committee at its quarterly meeting. The Treasury Oversight committee promotes the public interest and is governed by California Government Code sections 2730 through Performance Measure: To ensure the financial stability of the County, monitor and project liquidity requirements as evidenced by zero securities sold at a loss to meet cash flow needs of pool participants: Accomplished. To ensure the financial stability of the County and secure public agency funds, all investments stay within compliance 00% of the time with the Government Code and the Treasurer s Investment Policy: Accomplished. Fiscal and Facilities Impacts: Budgeted: Yes Fiscal Analysis: For the quarter ending September 30, 205, net investment earnings achieved by the Treasurer s Investment Pool were $,30,97, with the County receiving 39%, Schools 50%, and Special Districts the balance of %. The net yield earned for the quarter on an annualized basis is 0.44% and over the past year is 0.39%. Attachments:. Treasurer s First Quarter Investment Pool Report (July September 205) 2. Treasurer s Investment Pool Summary Performance Report, Quarter Ended September 30, 205 Authored by: Jennifer C. Christensen, JD MBA CPFO CFIP, Investment and Debt Officer G:\TR\Investing\TOC QuarterlyMeetings\ \ TIPBoardAgendaLetter.doc!BoardLetter2006.dot v 06c

3 SANTA BARBARA COUNTY TREASURER S REPORT TO THE BOARD OF SUPERVISORS AND THE TREASURY OVERSIGHT COMMITTEE FOR THE QUARTER ENDED September 30, 205

4 ECONOMIC TREND The Federal Open Market Committee (Committee) continued to maintain the target federal funds rate at a range of 0 to.25% and to reaffirm in the statement that the Committee s decision about how long to maintain the current target range for the federal funds rate would depend on its assessment of actual and expected progress toward its objectives of maximum employment and 2 percent inflation. Reports from the twelve Federal Reserve Districts point to continued modest expansion in economic activity during the reporting period from mid-august through early October. INVESTMENT ACTIVITIES The investment portfolio is in compliance with the Government Code and the Treasurer s Investment Policy. The Treasurer s Investment Pool has sufficient cash flow available to meet all budgeted expenditures for the next six months. 2

5 ECONOMIC TREND: Unemployment Rate The unemployment rate represents the number of unemployed persons as a percent of the labor force. The sampling used each month to calculate the rate is approximately 60,000 households. The national unemployment rate began the quarter at 5.3% and ended the quarter at 5.%. California s preliminary unemployment rate was 6.% in August. 3 Source: Bureau of Labor Statistics

6 ECONOMIC TREND: Inflation The Consumer Price Index (CPI) represents changes in prices of all goods and services purchased for consumption by urban households. CPI was 0.0 at the end of September. The Core CPI, which excludes food and energy, was.9 at the end of September. 4 Source: Bureau of Labor Statistics

7 ECONOMIC TREND: Consumer Confidence Consumer Confidence is the average of responses to current business and employment conditions and responses to six-month future expectations for business conditions, employment conditions, and total family income. It began the quarter at 99.8 and ended at Source: Conference Board

8 ECONOMIC TREND: GDP (Gross Domestic Product) Gross domestic product is the value of all goods and services produced. After eighteen consecutive quarters of growth, the economy experienced its first quarter in negative territory ending March 204 at -0.9%. Subsequently, the economy continued to recover. For the most recent quarter ending June 205, the economy reported GDP at 3.9%. 6 Source: Bureau of Economic Analysis

9 Santa Barbara County Treasurer's Investment Pool Statement of Assets As of September 30, 205 Asset Description Cost Net Unrealized Holding Gains/(Losses) Fair Value* 9/30/205 Percent of Portfolio Yield to Maturity Weighted Average Days to Maturity Fair Value 6/30/205 Net Change Cash California Asset Management Program (CAMP) Local Agency Investment Fund (LAIF) U.S. Treasuries Government Agency Bonds Government Agency Discount Notes Government Agency Bonds - Callable $ 5,532,949 0,000,000 50,000,000 99,489,746 69,73,080 99,00,446 22,994,639 $ - $ 5,532,949-0,000,000-50,000,000 75, ,205,725 (90,90) 69,622, ,299 99,25,745 94, ,89, $ 49,60,38 0,000,000 50,000, ,58,25 94,637,695 72,953,877 39,984,34 $ (33,627,89) - - (39,952,400) (25,04,805) 26,26,868 (97,794,734) Total $ 965,740,860 $,026,056 $ 966,766, $,36,894,76 $ (70,27,260) *Provided by Union Bank Treasurer's Pool Earnings Summary: Total Net Earnings on the Treasurer's Pool Average Daily Balance on the Treasurer's Pool Net Interest Rate on the Treasurer's Pool $,30,97 $,08,342, % 7

10 TREASURER'S INVESTMENT POOL ASSET DISTRIBUTION BY SECTOR (PAR VALUE) 9/30/205 Treasuries, 20.7% Callable Securities, 23.0% Cash on Deposit at Bank, 2.0% CAMP,.0% LAIF - State Investment Pool, 5.2% Government Agency Notes, 38.% Treasuries Cash on Deposit at Bank $ 200,000,000 $ 5,532,949 Government Agency Notes $ 369,000,000 LAIF - State Investment Pool $ 50,000,000 CAMP $ 0,000,000 Callable Securities $ 222,05,000 TOTAL $ 966,637,949 8

11 S&P CREDIT RATING AT TIME OF PURCHASE BY PERCENT OF BOOK VALUE 9/30/205 AA (Long Term Rating) 60.7% CA Local Agency Investment Fund/ Cash on Deposit at Bank (Not Rated) 7.% AAA (Long Term Rating) 22.2% Investment Policy Requirements: -- US Treasuries: N/A -- Agency of the Federal Government/US Government Sponsored: N/A -- Commercial Paper of US Corporations, Assets Greater Than $500 million: A, P, F (by two of the three rating agencies) -- State of California - LAIF/Managed Investment Pools: N/A -- Negotiable CD's: A, P, F (by two of the three rating agencies) -- Medium Term Notes/Corporate Notes of US Corporations: Up to three years: AAby at least two of the three rating agencies. Greater than three years: AA by at least two of the three rating agencies. 9

12 TREASURER'S INVESTMENT POOL MATURITY DISTRIBUTION 9/30/ YEARS, 0.5% 4-5 YEARS,.5% 2-3 YEARS, 3.% OVERNIGHT, 8.2% - 90 DAYS, 3.2% - 2 YEARS, 22.7% 9 DAYS - YEAR, 40.8% 0

13 TREASURER'S INVESTMENT POOL AVERAGE DAILY CASH BALANCE & INCOME DISTRIBUTION FOR THE QUARTER ENDED 9/30/205 Special Districts, % County, 39% Schools, 50% The average daily cash balance of all entities in the pool during the quarter was $,08,342,34. Aggregate interest earnings of $,30,97 was distributed to pool participants.

14 TREASURER'S INVESTMENT POOL QUARTERLY PERFORMANCE VERSUS SELECTED BENCHMARKS 9/30/ % 6.00% 5.00% 4.00% 3.00% 2.00%.00% 0.00% 0.44% 0.33% 0.25% 0.00% LAIF Treasurer's Pool Federal Funds 3 mo T-Bill 2

15 County Pool Portfolio Management Investment Status Report - Investments September 30, 205 Page Stated Maturity Purchase Days to Accrued Interest Current CUSIP Investment # Issuer Par Value Rate Date Date Term Maturity Market Value At Purchase Principal Book Value Cash SYS BAC CAMP Cash Totals 5,532, ,532, ,532, ,532, ,532, ,532, ,532, ,532, SYS CAMP 0,000, ,000, ,000, ,000, CAMP Totals 0,000, ,000, ,000, ,000, Local Agency Investment Funds SYS LAIF 50,000, ,000, ,000, ,000, Local Agency Investment Funds Totals 50,000, ,000, ,000, ,000, Federal Agency Coupon Securities 333ECE9 333EEDF4 333EEKU3 333EESZ4 333EEC L R9 330A0C65 330A3GV0 330A3PB4 330A3UR3 330A4SQ6 330A57C7 330A57D5 330A5AA7 330A5K57 337EADS5 334G4XW3 335G0AL7 335G0SB0 335G0XP FFCB FFCB FFCB FFCB FFCB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLMC FHLMC FNMA FNMA FNMA 0,000,000.00,500, ,000, ,000, ,000, ,000, /0/ /28/ /2/ /2/ /24/ /20/ /24/ /28/ /25/ /04/ /06/ /02/ /30/ /27/ /0/ /30/ /4/ /26/ /5/ /2/ /05/206 02/0/203 2/04/204 0/2/205 03/2/205 04/24/205 08/23/202 05/0/203 /5/203 /0/204 2/08/204 0/06/205 04/02/205 04/30/205 04/30/205 05/0/205 06/04/205 08/6/203 04//204 02/0/202 /6/202 05/7/203, ,84,4, ,55 899,495,30, ,005,200.00,502, ,000, ,006, ,002, ,002, ,995, ,00, ,002, ,004, ,07, ,997, ,000, ,995, ,006, ,02, ,00, ,046, ,005, ,000,00.00 Received Received Received 9,995,000.00,498, ,000, ,000, ,998, ,99, ,985, ,996, ,000, ,999, ,998, ,999, ,998, ,29, ,976, ,982, ,999,444.44,499, ,000, ,000, ,999, ,997, ,994, ,999, ,000, ,999, ,999, ,999, ,999, ,032, ,998, ,995, Federal Agency Coupon Securities Totals 69,500, ,622, ,73, ,54,965.8 Run Date: 0/22/205-0:57 Portfolio SB99 AP PM (PRF_PMS) Report Ver. 7.3.

16 County Pool Portfolio Management Investment Status Report - Investments September 30, 205 Page 2 Stated Maturity Purchase Days to Accrued Interest Current CUSIP Investment # Issuer Par Value Rate Date Date Term Maturity Market Value At Purchase Principal Book Value Federal Agency Disc. -Amortizing 3332WU FCDN /3/206 06/02/ ,992, ,986, ,990, WK FCDN /04/206 09/30/ ,992, ,990, ,990, ZZ FCDN 0,000, /29/206 09/30/ ,977, ,966, ,966, NQ8 590 FHDN /30/205 04/24/ ,999, ,997, ,999, WD7 595 FHDN /28/206 04/28/ ,993, ,985, ,99, NG0 596 FHDN /22/205 04/28/ ,999, ,997, ,999, NW5 597 FHDN,000, /05/205 04/28/ , , , XP FHDN 0,000, /0/206 06/02/ ,982, ,970, ,980, YD FHDN /5/206 06/5/ ,990, ,98, ,987, YV FHDN 3,500, /0/206 07/23/ ,492, ,488, ,490, YV FHDN 0,000, /0/206 09/09/ ,979, ,970, ,972, WX FHDN /6/206 09/5/ ,992, ,987, ,987, SY FHLBDN 2,500, //206 04/23/ ,498, ,495, ,498, RU FHLBDN 2,500, /4/206 04/23/ ,499, ,496, ,498, SB FHLBDN 0,000, /2/206 04/24/ ,996, ,985, ,993, SG5 593 FHLBDN 0,000, /26/206 04/27/ ,995, ,985, ,993, YC7 593 FHLBDN /4/206 06/5/ ,990, ,98, ,987, YE FHLBDN /6/206 06/9/ ,990, ,982, ,987, SJ FMCDN /28/206 03/04/ ,997, ,989, ,996, SK FMCDN /29/206 03/04/ ,997, ,989,886. 4,996, VW0 599 FMCDN /2/206 04/29/ ,993, ,987, ,992, UC FMCDN /0/206 04/29/ ,995, ,99,66. 4,995, US0 592 FMCDN /24/206 04/29/ ,995, ,990, ,994, WL FMCDN /05/206 05/05/ ,992, ,986, ,99, XA FMCDN 0,000, /9/206 06/22/ ,984, ,975, ,982, YU 5934 FMCDN /30/206 07/23/ ,990, ,985, ,988, E FMCDN /06/206 09/28/ ,985, ,984, ,985, E FMCDN /3/206 09/28/ ,986, ,985, ,985, B FMCDN //206 09/28/ ,987, ,987, ,987, ZS FMCDN /22/206 09/28/ ,989, ,988, ,988, RJ FNMA 0,000, /04/206 02/26/ ,996, ,982, ,994, XA FNMA /9/206 09/09/ ,992, ,988, ,989, ZV FNMA /25/206 09/4/ ,989, ,983, ,984, ZY FNMA /28/206 09/4/ ,988, ,983, ,984, D FNMA /25/206 09/7/ ,987, ,980, ,98, Portfolio SB99 AP Run Date: 0/22/205-0:57 PM (PRF_PMS) 7.2.5

17 County Pool Portfolio Management Investment Status Report - Investments September 30, 205 Page 3 CUSIP Investment # Issuer Par Value Stated Rate Maturity Date Purchase Date Term Days to Maturity Market Value Accrued Interest At Purchase Current Principal Book Value Federal Agency Disc. -Amortizing Totals 99,500, ,25, ,00, ,37,84.27 Treasury Coupon Securities 92828B USTR 2,500, /29/206 03/06/ ,50,75.00 Received 2,496, ,499, UR USTR 2,500, /28/208 03/06/204, ,498, Received 2,459, ,475, B USTR 0,000, /29/206 03/20/ ,004, Received 9,98, ,996, B USTR 0,000, /29/206 04/25/ ,004, Received 9,980, ,995, SY7 589 USTR 0,000, /3/207 04/29/204, ,007, Received 9,899, ,945, VC 582 USTR /5/206 04/30/ ,000, Received 4,939, ,98, B USTR 0,000, /5/207 06/05/ ,08, Received 9,972, ,986, VG USTR /5/206 06/8/ ,008, Received 5,000, ,000, WQ USTR /30/206 07/07/ ,008, Received 4,999, ,999, WM USTR /3/206 07/07/ ,004,00.00 Received 4,990, ,996, UG USTR 0,000, /5/206 /06/ ,008, Received 0,09, ,004, SY7 585 USTR /3/207 /07/ ,003, Received 4,974, ,983, TB USTR 0,000, /30/207 /07/ ,027, Received 9,97, ,980, WM USTR 0,000, /3/206 /25/ ,008, Received 0,02, ,005, WQ USTR 0,000, /30/206 /25/ ,07, Received 0,025, ,02, TM2 586 USTR /3/207 2/02/204, ,999, Received 4,909, ,937, TB USTR /30/207 2/02/ ,04, Received 4,985, ,990, SY USTR /3/207 2/02/ ,0,00.00 Received 4,954, ,969, TM USTR 0,000, /3/207 03/02/ ,999, Received 9,942, ,955, TB USTR 0,000, /30/207 03/02/ ,027, Received 9,990, ,992, WM USTR /3/206 03// ,004,00.00 Received 4,998, ,999, VC 5897 USTR 0,000, /5/206 03// ,000, Received 9,985, ,992, Treasury Coupon Securities Totals 200,000, ,205, ,489, ,700,543.6 Federal Agency Coupon - Callables 333EA5V FFCB /24/206 0/24/202, ,000, EA5V6 562 FFCB /24/206 0/24/202, ,000, ,992, ,998, EC3F FFCB /26/206 /26/202, ,000, ,990, ,997, EC5B FFCB /29/206 /29/202, ,000, ,993, ,998, EC6S FFCB 0,000, /2/206 2/2/202, ,000, ,992, ,997, ECFA FFCB /3/208 02/3/203, ,000, ECKL FFCB /03/207 04/03/203, ,993, ECQW7 574 FFCB /04/208 06/04/203, ,000, ,99, ,995, Portfolio SB99 AP Run Date: 0/22/205-0:57 PM (PRF_PMS) 7.2.5

18 County Pool Portfolio Management Investment Status Report - Investments September 30, 205 Page 4 Stated Maturity Purchase Days to Accrued Interest Current CUSIP Investment # Issuer Par Value Rate Date Date Term Maturity Market Value At Purchase Principal Book Value Federal Agency Coupon - Callables 333EDJU7 585 FFCB 2,500, /7/206 04/7/ ,500, ,500, ,500, EDYQ FFCB 500, /20/207 /4/ , Received 500, , EELR FFCB /27/207 0/27/ ,007, MF 5606 FHLB 7,080, /8/207 09/8/202, ,080, ,078, ,079, R4 566 FHLB 0,000, /09/207 2/9/202, ,00, Received 9,997, ,998, L0 573 FHLB /24/208 05/28/203, ,986, A0F FHLB.250 2/8/207 2/8/203, ,008, A0NR FHLB 2,500, /29/208 0/29/204, ,507, ,499, ,499, A4JT FHLB 0,000, /2/209 03/2/205,706,503 0,003, ,000, ,000, A4VL3 594 FHLB /28/207 04/28/ ,00, G3K FHLMC /27/207 09/27/202, ,03, G3Y FHLMC.000 /28/207 /28/202, ,994, G3Z FHLMC /05/206 2/05/202, ,006, ,997, ,999, G33B FHLMC.000 0//208 0//203, ,00, ,997, ,998, G33M0 567 FHLMC 0,000, /6/208 0/6/203, ,003, ,000, ,000, G34Y3 570 FHLMC /4/208 04/09/203, ,994,00.00 Received 4,998, ,999, G37C FHLMC 7,275, /7/208 04/7/203, ,277, ,275, ,275, G42G FHLMC /30/208 04/30/203, ,003, G4S FHLMC /30/206 2/30/203, ,005, G4R FHLMC 2,450, /30/206 2/30/203, ,455, ,450, ,450, G4YA0 58 FHLMC 5,250, /26/206 03/26/ ,255, ,250, ,250, G6TQ FHLMC /20/208 04/20/205, ,00, G6YM9 592 FHLMC /27/207 04/27/ ,005, G0QW FNMA.000 /08/207 /08/202, ,999, G0SH FNMA 0,000, /2/207 2/2/202, ,03, ,000, ,000, G0TV FNMA.030 0/30/208 0/30/203, ,003, ,998, ,999, G0UE 5685 FNMA /4/208 02/4/203, ,0, ,993, ,997, G0K FNMA 9,550, /27/208 03/27/203, ,535, ,546, ,548, GHU FNMA /04/208 04/04/203, ,000, G0UN 5798 FNMA.50 02/28/208 02/3/204, ,998,50.00 Received 4,95, ,970, G2CY 5882 FNMA.000 0/30/209 0/30/205,46,27 5,002, G0C FNMA /27/ /27/205,826,60 5,02, Federal Agency Coupon - Callables Totals 222,05,000.00, ,89, ,994, ,052,963.7 Portfolio SB99 AP Run Date: 0/22/205-0:57 PM (PRF_PMS) 7.2.5

19 County Pool Portfolio Management Investment Status Report - Investments September 30, 205 Page 5 CUSIP Investment # Issuer Par Value Stated Rate Maturity Date Purchase Date Term Days to Maturity Market Value Accrued Interest At Purchase Current Principal Book Value Investment Totals 966,637, ,766, ,740, ,939, Portfolio SB99 AP Run Date: 0/22/205-0:57 PM (PRF_PMS) 7.2.5

20 Treasurer's Investment Pool Purchases Report Sorted by Fund - Fund July, September 30, 205 Santa Barbara County Sec. Original Purchase Principal Accrued Interest Rate at Maturity Ending CUSIP Investment # Fund Type Issuer Par Value Date Payment Periods Purchased at Purchase Purchase Date YTM Book Value Treasurer's Pooled Investments 33384YV AFD FHDN 3,500, /23/205 07/0 - At Maturity 3,488, /0/ ,490, YU 5934 AFD FMCDN 07/23/205 06/30 - At Maturity 4,985, /30/ ,988, YV AFD FHDN 0,000, /09/205 07/0 - At Maturity 9,970, /0/ ,972, XA AFD FNMA 09/09/205 05/9 - At Maturity 4,988, /9/ ,989, ZV AFD FNMA 09/4/205 07/25 - At Maturity 4,983, /25/ ,984, ZY AFD FNMA 09/4/205 07/28 - At Maturity 4,983, /28/ ,984, WX AFD FHDN 09/5/205 05/6 - At Maturity 4,987, /6/ ,987, D AFD FNMA 09/7/205 08/25 - At Maturity 4,980, /25/ ,98, E AFD FMCDN 09/28/205 09/06 - At Maturity 4,984, /06/ ,985, E AFD FMCDN 09/28/205 08/3 - At Maturity 4,985, /3/ ,985, B AFD FMCDN 09/28/205 08/ - At Maturity 4,987, // ,987, ZS AFD FMCDN 09/28/205 07/22 - At Maturity 4,988, /22/ ,988, WK AFD FCDN 09/30/205 05/04 - At Maturity 4,990, /04/ ,990, ZZ AFD FCDN 0,000, /30/205 07/29 - At Maturity 9,966, /29/ ,966, Subtotal 78,500, ,27, ,284, Total Purchases 78,500, ,27, ,284, Portfolio SB99 Data Updated: SET_: 0/22/205 0:38 AP Run Date: 0/22/205-0:38 PU (PRF_PU) 7.. Report Ver. 7.3.

21 Treasurer's Investment Pool Maturity Report Sorted by Maturity Date Received or due during July, September 30, 205 Santa Barbara County Sec. Maturity Purchase Rate Book Value Maturity Net CUSIP Investment # Fund Type Issuer Par Value Date Date at Maturity at Maturity Interest Proceeds Income 333EDBE 5762 FAC FFCB 07/09/205 2/0/ , ,005, , JD AFD FCDN 07/5/205 07/6/ JL AFD FMCDN 7,460, /22/205 /26/ ,460, ,460, JV2 59 AFD FHDN 0,000, /3/205 04/24/ ,000, ,000, KJ7 598 AFD FHDN 4,675, /3/205 04/28/ ,675, ,675, TK TRC USTR 0,000, /5/205 2/3/ ,000, , ,02, , EDAL FAC FFCB 08/25/205 2// , ,007, , KW AFD FHLBDN 0,000, /25/205 08/27/ ,000, ,000, KY AFD FMCDN 08/27/205 /25/ ECWQ FAC FFCB 0,000, /09/205 08/09/ ,000, , ,08, , G36F MC FHLMC 09/8/205 03/28/ , ,00, , G0NV 5590 FAC FNMA 09/28/205 08/7/ , ,02, , VY3 580 TRC USTR 09/30/205 03/24/ , ,006, , Total Maturities 97,35, ,35, , ,208, , Data Updated: SET_: 0/22/205 0:38 Portfolio SB99 AP Run Date: 0/22/205-0:38 MA (PRF_MA) 7.. Report Ver. 7.3.

22 Treasurer's Investment Pool Sales/Call Report Sorted by Maturity Date - Fund July, September 30, 205 Santa Barbara County Issuer Purchase Redem. Date Par Rate at Book Value Redemption Redemption Total CUSIP Investment # Fund Sec. Type Date Matur. Date Value Redem. at Redem. Principal Interest Amount Net Income 08/26/ G5GE FHLMC 08/26/204 08/26/ , ,04, , MC 08/26/206 Call 09/09/206 Subtotal 4, ,04, , EDUM FFCB 09/09/204 09/4/ ,000, MC 09/09/206 Call /4/206 Subtotal ,000, G02U FNMA /4/202 08/4/ ,997, , ,007, , MC /4/206 Call 0/30/207 Subtotal 4,997, , ,007, , G6AA 5884 FHLMC 0/30/205 07/30/ , ,07, , MC 0/30/207 Call 02/5/207 Subtotal 7, ,07, , B USTR 06/05/204 08/2/ ,992,332. 5,005, , ,02, , TRC 02/5/207 Sale 03/30/207 Subtotal 4,992,332. 5,005, , ,02, , A4JN3 590 FHLB 03/30/205 09/30/ , ,02, , MC 03/30/207 Call 06/30/207 Subtotal 2, ,02, , G6PU 5902 FHLMC 03/30/205 09/30/ , ,00, , MC 06/30/207 Call 07/24/207 Subtotal 0, ,00, , Data Updated: SET_: 0/22/205 0:38 Portfolio SB99 AP Run Date: 0/22/205-0:38 SA (PRF_SA) 7.. Report Ver. 7.3.

23 Treasurer's Investment Pool Sales/Call Report Page 2 July, September 30, 205 Issuer Purchase Redem. Date Par Rate at Book Value Redemption Redemption Total CUSIP Investment # Fund Sec. Type Date Matur. Date Value Redem. at Redem. Principal Interest Amount Net Income 07/24/ EAZK FFCB 07/24/202 09/0/ , ,004, , MC 07/24/207 Call 333EAZK FFCB 07/24/202 09/0/ , ,004, , MC 07/24/207 Call 09/2/207 Subtotal 0,000, ,000, ,000, , ,009, , G3H FHLMC 09/2/202 09/2/ ,999, , ,025, , MC 09/2/207 Call 09/9/207 Subtotal 4,999, , ,025, , A25D4 583 FHLB 06/9/204 09/9/ , ,027, , MC 09/9/207 Call 09/29/207 Subtotal 27, ,027, , A3MG FHLB 2/29/204 09/29/205 0,000, ,000, ,000, , ,050, , MC 09/29/207 Call 05/3/208 Subtotal 0,000, ,000, ,000, , ,050, , VE USTR 2/04/204 08/04/205 0,000, ,947, ,08, , ,036, ,30.27 TRC 05/3/208 Sale 06/9/208 Subtotal 0,000, ,947, ,08, , ,036, , G5T2 587 FHLMC 2/9/204 09/9/205 2,500, ,500, ,500, , ,509, , MC 06/9/208 Call 06/25/208 Subtotal 2,500, ,500, ,500, , ,509, , A4MX FHLB 03/25/205 09/25/205 0,000, V 0,000, ,000, , ,02, , MC 06/25/208 Call 05/3/209 Subtotal 0,000, ,000, ,000, , ,02, , WL USTR 03/09/205 08/04/205 0,000, ,985, ,090, , ,7, , TRC 05/3/209 Sale V - Security with variable rate change. Data Updated: SET_: 0/22/205 0:38 Subtotal 0,000, ,985, ,090, , ,7, , Portfolio SB99 AP Run Date: 0/22/205-0:38 SA (PRF_SA) 7.. Report Ver. 7.3.

24 Treasurer's Investment Pool Sales/Call Report July, September 30, 205 Page 3 CUSIP Investment # Fund Issuer Sec. Type Purchase Date Redem. Date Matur. Date Par Value Rate at Redem. Book Value at Redem. Redemption Principal Redemption Interest Total Amount Net Income 06/2/ EDN FFCB 06/2/204 07/4/205 MC 06/2/209 2,500, ,500, ,500, ,. 2,504,. Call 4,. Subtotal 2,500, ,500, ,500, ,. 2,504,. 4,. 06/7/ G56S FHLMC 06/7/204 09/7/205 MC 06/7/209 2,500, V 2,498, ,500, , ,506, Call 8,25.00 Subtotal 2,500, ,498, ,500, , ,506, , /0/ A2FP FHLB 07/0/204 07/0/205 MC 07/0/ , V 660, , , , Call 3, Subtotal 660, , , , , , /7/ A2KK 584 FHLB 07/7/204 07/7/205 MC 07/7/ V 25, ,025, Call 25, Subtotal 25, ,025, , /2/ A2A FHLB 02/05/205 09/04/205 MC 2/2/209 0,000, ,000, ,000, , ,043, Call 43, Subtotal 0,000, ,000, ,000, , ,043, , Total Sales 8,60, ,080, ,275, , ,623, , V - Security with variable rate change. Data Updated: SET_: 0/22/205 0:38 Portfolio SB99 AP Run Date: 0/22/205-0:38 SA (PRF_SA) 7.. Report Ver. 7.3.