Investment Portfolio Summary

Transcription

1 Investment Portfolio Summary For the Quarter Ended March 31, 2018 Prepared by FirstSouthwest Asset Management

2 Table of Contents / Market Recap MARKET RECAP - MARCH 2018: Report Name Certification Page Executive Summary Benchmark Comparison Detail of Security Holdings Change in Value Earned Income Investment Transactions Amortization and Accretion Projected Fixed Income Cash Flows Repeating the pattern of recent months, economic data got off to a good start in early March, then faltered as the month progressed. The Conference Board s survey of consumer confidence jumped to a 17-year high of in February, as Americans anticipated bigger paychecks resulting from recent tax reform. Purchasing managers were also quite upbeat as the ISM manufacturing index climbed to 60.8 in February, the highest since May 2004, while the ISM non-manufacturing (service sector) index slipped to 59.5 in February still within half a point of a 13 year high. Nonfarm payrolls rose by +313k last month, far exceeding the +205k median forecast, while net revisions to the previous two months added another +54k. The three-month average of +242k is the strongest pace of job creation in 18 months. The unemployment rate held steady at +4.1% for the fifth straight month. Despite strong job creation, wages remained surprisingly low. Hourly earnings rose by just +0.1% in February, while the year-over-year increase slipped from a revised +2.8% in January to +2.6%. This was the most important number in the report as it indicates that wage inflation isn t the concern it appeared to be in January. Americans may have slightly fatter paychecks as a result of recent tax reform, but there are few signs consumers are choosing to spend those extra dollars. Headline retail sales fell by -0.1% in February, well below the +0.3% median forecast, and identical to the revised January decline. Car and truck sales registered the fourth straight monthly decline. Inflation measures were generally well-behaved in February as both the headline and core consumer price index (CPI) rose +0.2% in February. The year-over-year pace of overall CPI rose from +2.1% to +2.2%, while core CPI held steady at +1.8%. The final measure of fourth quarter GDP climbed from an annualized quarterly pace of +2.7% to +2.9%. Core PCE was unrevised at +1.9% for the quarter, holding the year-over-year rate at +1.5%, still well below the Fed s +2.0% inflation target. The FOMC looked past the weak consumer spending and tame inflation readings, focusing instead on the strong job market, and voted unanimously to raise the overnight fed funds target by 25 basis points to a range of 1.50% to 1.75%. It was the sixth 25 basis point increase since the liftoff from zero began in December The latest dot plot still indicates a total of three hikes in 2018, but the dots themselves have risen and are now just one dot away from four hikes in The 2019 projection rose from two to three hikes with two still expected in The official statement had a hawkish slant, which pushed the 2-year Treasury note yield to a cycle high of 2.35% while the 10-year rose to 2.90%. Stock markets suffered through another difficult month. The initial salvo was President Trump s announcement that he would impose tariffs of 25% on imported steel and 10% on imported aluminum. That was enough to turn the DOW s 40 point gain into a 450 point loss on the first day of the month. A mid-march announcement of $50 billion in tariffs on some 1,300 imported Chinese products added to fears of a trade war and sparked a 724 point drop in the DOW. Hawkish rhetoric from the Fed also contributed to stock weakness through much of the month. Revelations surrounding the use and abuse of Facebook user data ignited concerns that regulators would begin to crack down on Facebook, Google, Microsoft, et al, hammering those shares. As the month drew to a close, President Trump went after Amazon in a series of threatening tweets, sending its stock plunging. For the month of March, the DOW extended February s -4.3% decline with another -3.7% loss, the S&P 500 shed another -2.7% on top of February s -3.9%, and the NASDAQ followed up last month s -1.9% decline by falling -2.9%. Equity market weakness would drive a modest flight to safety rally in bonds as the month drew to a close, pulling the yield on the two-year Treasury down to 2.27% and the 10-year down to 2.74%. Page 2 of 29

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4 Executive Summary As of 03/31/18 Account Summary Allocation by Security Type Beginning Values as of 12/31/17 Ending Values as of 03/31/18 Par Value 348,739, Market Value 347,718, Book Value 348,188, Unrealized Gain /(Loss) (469,543.46) Market Value % 99.87% Weighted Avg. YTW 1.377% Weighted Avg. YTM 1.377% 391,316, ,266, ,909, (642,538.85) 99.84% 1.547% 1.547% AGCY BULLET 16% AGCY CALL 3% BANK DEP 8% CD 3% CP 8% LGIP 42% TREASURY 21% Total: 100% Allocation by Issuer Maturity Distribution % Credit Quality 50% 49% 40% TEXPOOL 22% US TREAS 21% TEX PRIME 19% FHLB 9% COMPASS 8% FFCB 7% Other Issuers 14% Total: 100% 30% 20% 10% 10% 10% 20% 10% A-1+ 8% AAA 82% Collateralized 10% Total: 100% 0% Overnight 2-90 Days Days 6-12 Months 1-2 Years Weighted Average Days to Maturity: 119 Print Date: 4/18/2018 Print Time: 8:00 am Page 1 of 1 Page 4 of 29

5 Benchmark Comparison As of 03/31/ % 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% % May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 1-YR CMT 3-MO CMT 6-MO CMT TEXPOOL Note 1: CMT stands for Constant Maturity Treasury. This data is published in Federal Reserve Statistical Release H.15 and represents an average of all actively traded Treasury securities having that time remaining until maturity. This is a standard industry benchmark for Treasury securities. The CMT benchmarks are moving averages. The 3-month CMT is the daily average for the previous 3 months, the 6-month CMT is the daily average for the previous 6 months, and the 1-year and 2-year CMT's are the daily averages for the previous 12-months. Note 2: Benchmark data for TexPool is the monthly average yield. Print Date: 4/18/2018 Print Time: 8:00 am Page 1 of 1 Page 5 of 29

6 Detail of Security Holdings As of 03/31/2018 Settle Purch Mkt CUSIP Date Sec. Type Sec. Description CPN Mty Date Next Call Call Type Par Value Price Orig Cost Book Value Price Market Value Days to Mty Days to Call YTM YTW (199) General Fund BBVA-SPRG BANK DEP BBVA Compass MM 16,949, ,949, ,949, ,949, TEXPOOL LGIP TexPool 36,800, ,800, ,800, ,800, TEXPRIME LGIP TexPool Prime 38,060, ,060, ,060, ,060, TXDAILY LGIP TexasDAILY 3,735, ,735, ,735, ,735, Q94 05/09/16 TREAS NOTE U.S. Treasury /30/18 500, , , , CD-T /04/17 CD-IAM /01/18 246, ,00 246, , G0WJ8 06/09/16 AGCY BULET FNMA /21/18 550, , , , G9VF1 06/22/16 AGCY CALL FHLMC /22/18 Expired QRTLY 500, ,00 500, , CD-T /08/17 CD-IAM /05/18 246, ,00 246, , CD-T /08/17 CD-IAM /05/18 246, ,00 246, , CD-T /20/17 CD-IAM /20/18 246, ,00 246, , CD-T /20/17 CD-IAM /20/18 246, ,00 246, , CD-T /20/17 CD-IAM /20/18 246, ,00 246, , CD-T /20/17 CD-IAM /20/18 245, ,00 245, , CD-T /04/17 CD-IAM /06/18 245, ,00 245, , CDT /29/17 CD-IAM /27/18 246, ,00 246, , C3 08/24/17 TREAS NOTE U.S. Treasury /31/18 5,000, ,975, ,989, ,976, C3 01/25/18 TREAS NOTE U.S. Treasury /31/18 8,000, ,956, ,969, ,962, CD-T /25/17 CD-IAM /25/18 245, ,00 245, , CDT /25/17 CD-IAM /25/18 246, ,00 246, , CD-T /26/17 CD-IAM /26/18 245, ,00 245, , CD-T /26/17 CD-IAM /26/18 245, ,00 245, , CD-T /12/17 CD-IAM /12/18 245, ,00 245, , CD-T /12/17 CD-IAM /12/18 245, ,00 245, , CDT /12/17 CD-IAM /12/18 245, ,00 245, , CDT /12/17 CD-IAM /12/18 245, ,00 245, , T83 11/28/16 TREAS NOTE U.S. Treasury /31/18 500, , , , CD-T /02/17 CD-IAM /02/18 246, ,00 246, , CD-T /02/17 CD-IAM /02/18 245, ,00 245, , CD-T /17/17 CD-IAM /19/18 245, ,00 245, , CDT /17/17 CD-IAM /19/18 246, ,00 246, , U40 12/12/16 TREAS NOTE U.S. Treasury /30/18 500, , , , Print Date: 4/18/2018 Print Time: 8:00 am Page 1 of 5 Page 6 of 29

7 Detail of Security Holdings As of 03/31/2018 Settle Purch Mkt CUSIP Date Sec. Type Sec. Description CPN Mty Date Next Call Call Type Par Value Price Orig Cost Book Value Price Market Value Days to Mty Days to Call YTM YTW (199) General Fund CD-T /19/17 CD-IAM /19/18 245, ,00 245, , CD-T /19/17 CD-IAM /19/18 245, ,00 245, , CDT /19/17 CD-IAM /19/18 245, ,00 245, , CDT /19/17 CD-IAM /19/18 245, ,00 245, , CDT /19/17 CD-IAM /19/18 245, ,00 245, , CDT /19/17 CD-IAM /19/18 245, ,00 245, , CD-T /08/18 CD-IAM /08/19 245, ,00 245, , CDT /08/18 CD-IAM /08/19 245, ,00 245, , CDT /08/18 CD-IAM /08/19 245, ,00 245, , CDT /08/18 CD-IAM /08/19 245, ,00 245, , CD-T /05/18 CD-IAM /05/19 245, ,00 245, , CDT /05/18 CD-IAM /05/19 245, ,00 245, , CDT /05/18 CD-IAM /05/19 244, ,00 244, , CDT /05/18 CD-IAM /05/19 245, ,00 245, , CD-T /08/18 CD-IAM /08/19 245, ,00 245, , CDT /08/18 CD-IAM /08/19 245, ,00 245, , CD-T /14/18 CD-IAM /14/19 244, ,00 244, , CD-T /14/18 CD-IAM /14/19 244, ,00 244, , P95 03/16/16 TREAS NOTE U.S. Treasury /15/19 520, , , , CD-T /28/18 CD-IAM /28/19 244, ,00 244, , CD-T /28/18 CD-IAM /28/19 244, ,00 244, , CD-T /28/18 CD-IAM /28/19 244, ,00 244, , CDT /28/18 CD-IAM /28/19 244, ,00 244, , Q52 05/09/16 TREAS NOTE U.S. Treasury /15/19 450, , , , WL0 09/16/16 TREAS NOTE U.S. Treasury /31/19 500, , , , S43 07/18/16 TREAS NOTE U.S. Treasury /15/19 500, , , , Total for (199) General Fund 123,603, ,536, ,563, ,509, Print Date: 4/18/2018 Print Time: 8:00 am Page 2 of 5 Page 7 of 29

8 Detail of Security Holdings As of 03/31/2018 Settle Purch Mkt CUSIP Date Sec. Type Sec. Description CPN Mty Date Next Call Call Type Par Value Price Orig Cost Book Value Price Market Value Days to Mty Days to Call YTM YTW (240) Child Nutrition Fund TEXPOOL LGIP TexPool 1,558, ,558, ,558, ,558, TEXPRIME LGIP TexPool Prime 520, , , , Total for (240) Child Nutrition Fund 2,079, ,079, ,079, ,079, (599) Debt Service Fund BBVA-SPRG BANK DEP BBVA Compass MM 13,107, ,107, ,107, ,107, TEXPOOL LGIP TexPool 30,988, ,988, ,988, ,988, TEXPRIME LGIP TexPool Prime 14,928, ,928, ,928, ,928, Total for (599) Debt Service Fund 59,024, ,024, ,024, ,024, (601) Series 2008-A Capital Project Fund TEXPOOL LGIP TexPool 36, , , , TEXPRIME LGIP TexPool Prime 11, , , , Total for (601) Series 2008-A Capital Project Fund 48, , , , Print Date: 4/18/2018 Print Time: 8:00 am Page 3 of 5 Page 8 of 29

9 Detail of Security Holdings As of 03/31/2018 Settle Purch Mkt CUSIP Date Sec. Type Sec. Description CPN Mty Date Next Call Call Type Par Value Price Orig Cost Book Value Price Market Value Days to Mty Days to Call YTM YTW (621) Series 2017 Capital Project Fund TEXPOOL LGIP TexPool 12,937, ,937, ,937, ,937, TEXPRIME LGIP TexPool Prime 19,202, ,202, ,202, ,202, KEB4 12/21/17 CP - DISC Harvard Univ 05/11/18 6,156, ,115, ,144, ,142, BDB6 10/27/17 CP - INT Univ of TX /15/18 15,000, ,000,00 15,000, ,989, XF2 09/18/17 TREAS NOTE U.S. Treasury /15/18 7,500, ,492, ,498, ,490, QFN6 09/26/17 CP - DISC J.P.Morgan Sec 06/22/18 10,000, ,880, ,963, ,952, XK1 09/14/17 TREAS NOTE U.S. Treasury /15/18 7,500, ,476, ,491, ,479, C3 09/14/17 TREAS NOTE U.S. Treasury /31/18 8,500, ,459, ,482, ,460, L40 09/14/17 TREAS NOTE U.S. Treasury /15/18 8,000, ,978, ,990, ,968, A9AE1 09/28/17 AGCY BULET FHLB /01/18 8,410, ,369, ,389, ,362, M64 10/13/17 TREAS NOTE U.S. Treasury /15/18 10,000, ,980, ,988, ,952, EHZG1 09/21/17 AGCY BULET FFCB /21/18 9,000, ,992, ,995, ,960, AAE46 10/13/17 AGCY BULET FHLB /16/19 7,800, ,778,16 7,786, ,747, V56 11/29/17 TREAS NOTE U.S. Treasury /31/19 8,000, ,949, ,963, ,936, EHP23 12/08/17 AGCY BULET FFCB /06/19 10,000, ,971,10 9,978, ,949, M2 09/18/17 AGCY BULET FHLB /08/19 7,445, ,456, ,452, ,400, M2 12/08/17 AGCY BULET FHLB /08/19 10,000, ,966,90 9,975, ,940, Q52 11/29/17 TREAS NOTE U.S. Treasury /15/19 9,200, ,096, ,121, ,079, D23 11/29/17 TREAS NOTE U.S. Treasury /30/19 9,000, ,988,75 8,991, ,948, G9NB9 12/08/17 AGCY CALL FHLMC /24/19 5/24/2018 QRTLY 10,000, ,915,50 9,933, ,871, EHB69 10/04/17 AGCY BULET FFCB /03/19 9,200, ,192, ,194, ,121, Total for (621) Series 2017 Capital Project Fund 202,850, ,201, ,482, ,894, (698) Capital Project Commitment Fund TEXPOOL LGIP TexPool 2,739, ,739, ,739, ,739, TEXPRIME LGIP TexPool Prime 971, , , , Total for (698) Capital Project Commitment Fund 3,710, ,710, ,710, ,710, Print Date: 4/18/2018 Print Time: 8:00 am Page 4 of 5 Page 9 of 29

10 Detail of Security Holdings As of 03/31/2018 Settle Purch Mkt CUSIP Date Sec. Type Sec. Description CPN Mty Date Next Call Call Type Par Value Price Orig Cost Book Value Price Market Value Days to Mty Days to Call YTM YTW Total for 391,316, ,599, ,909, ,266, Print Date: 4/18/2018 Print Time: 8:00 am Page 5 of 5 Page 10 of 29

11 Change in Value From 12/31/2017 to 03/31/2018 CUSIP Security Type Security Description 12/31/17 Cost of Maturities / Amortization / Realized 03/31/18 12/31/17 03/31/18 Book Value Purchases Calls / Sales Accretion Gain/(Loss) Book Value Market Value Market Value Change in Mkt Value (199) General Fund BBVA-SPRG BANK DEP BBVA Compass MM 1,373, ,575, ,949, ,373, ,949, ,575, TEXPOOL LGIP TexPool 63,364, ,698, (48,262,241.13) 36,800, ,364, ,800, (26,563,774.48) TEXPRIME LGIP TexPool Prime 22,626, ,433, ,060, ,626, ,060, ,433, TXDAILY LGIP TexasDAILY 5,640, , (1,928,823.12) 3,735, ,640, ,735, (1,905,359.36) CD-T30011 CD-IAM /08/18 247,00 (247,00) 247,00 (247,00) CD-T31972 CD-IAM /08/18 247,00 (247,00) 247,00 (247,00) CD-T34353 CD-IAM /08/18 246,00 (246,00) 246,00 (246,00) CD-T57293 CD-IAM /08/18 247,00 (247,00) 247,00 (247,00) 3137EADN6 AGCY BULET FHLMC /12/18 549, (550,00) , (549,909.80) CD-T1086 CD-IAM /05/18 246,00 (246,00) 246,00 (246,00) CD-T29209 CD-IAM /05/18 246,00 (246,00) 246,00 (246,00) CD-T34607 CD-IAM /05/18 247,00 (247,00) 247,00 (247,00) CD-T34836 CD-IAM /05/18 246,00 (246,00) 246,00 (246,00) UR9 TREAS NOTE U.S. Treasury /28/18 499, (500,00) , (499,522.00) Q94 TREAS NOTE U.S. Treasury /30/18 500, (44.50) 500, , , CD-T24387 CD-IAM /01/18 246,00 246,00 246,00 246, G0WJ8 AGCY BULET FNMA /21/18 550, (60.36) 550, , , G9VF1 AGCY CALL FHLMC /22/18 500,00 500,00 498, , CD-T26351 CD-IAM /05/18 246,00 246,00 246,00 246,00 CD-T7742 CD-IAM /05/18 246,00 246,00 246,00 246,00 CD-T05496 CD-IAM /20/18 246,00 246,00 246,00 246,00 CD-T33823 CD-IAM /20/18 246,00 246,00 246,00 246,00 CD-T4445 CD-IAM /20/18 246,00 246,00 246,00 246,00 CD-T57807 CD-IAM /20/18 245,00 245,00 245,00 245,00 CD-T33653 CD-IAM /06/18 245,00 245,00 245,00 245,00 CDT CD-IAM /27/18 246,00 246,00 246,00 246, C3 TREAS NOTE U.S. Treasury /31/18 4,984, ,956, , ,959, ,969,49 12,939, ,969, CD-T58261 CD-IAM /25/18 245,00 245,00 245,00 245,00 CDT CD-IAM /25/18 246,00 246,00 246,00 246,00 CD-T15118 CD-IAM /26/18 245,00 245,00 245,00 245,00 CD-T58923 CD-IAM /26/18 245,00 245,00 245,00 245,00 CD-T03330 CD-IAM /12/18 245,00 245,00 245,00 245,00 CD-T34294 CD-IAM /12/18 245,00 245,00 245,00 245,00 CDT CD-IAM /12/18 245,00 245,00 245,00 245,00 Print Date: 4/18/2018 Print Time: 8:01 am Page 1 of 5 Page 11 of 29

12 Change in Value From 12/31/2017 to 03/31/2018 CUSIP Security Type Security Description 12/31/17 Cost of Maturities / Amortization / Realized 03/31/18 12/31/17 03/31/18 Book Value Purchases Calls / Sales Accretion Gain/(Loss) Book Value Market Value Market Value Change in Mkt Value (199) General Fund CDT CD-IAM /12/18 245,00 245,00 245,00 245, T83 TREAS NOTE U.S. Treasury /31/18 498, , , , CD-T18265 CD-IAM /02/18 246,00 246,00 246,00 246,00 CD-T26219 CD-IAM /02/18 245,00 245,00 245,00 245,00 CD-T01167 CD-IAM /19/18 245,00 245,00 245,00 245,00 CDT CD-IAM /19/18 246,00 246,00 246,00 246, U40 TREAS NOTE U.S. Treasury /30/18 499, , , , CD-T22366 CD-IAM /19/18 245,00 245,00 245,00 245,00 CD-T33306 CD-IAM /19/18 245,00 245,00 245,00 245,00 CDT CD-IAM /19/18 245,00 245,00 245,00 245,00 CDT CD-IAM /19/18 245,00 245,00 245,00 245,00 CDT CD-IAM /19/18 245,00 245,00 245,00 245,00 CDT CD-IAM /19/18 245,00 245,00 245,00 245,00 CD-T31864 CD-IAM /08/19 245,00 245,00 245,00 245,00 CDT CD-IAM /08/19 245,00 245,00 245,00 245,00 CDT CD-IAM /08/19 245,00 245,00 245,00 245,00 CDT CD-IAM /08/19 245,00 245,00 245,00 245,00 CD-T26499 CD-IAM /05/19 245,00 245,00 245,00 245,00 CDT CD-IAM /05/19 245,00 245,00 245,00 245,00 CDT CD-IAM /05/19 244,00 244,00 244,00 244,00 CDT CD-IAM /05/19 245,00 245,00 245,00 245,00 CD-T34108 CD-IAM /08/19 245,00 245,00 245,00 245,00 CDT CD-IAM /08/19 245,00 245,00 245,00 245,00 CD-T03674 CD-IAM /14/19 244,00 244,00 244,00 244,00 CD-T58377 CD-IAM /14/19 244,00 244,00 244,00 244, P95 TREAS NOTE U.S. Treasury /15/19 519, , , , (279.24) CD-T03705 CD-IAM /28/19 244,00 244,00 244,00 244,00 CD-T09172 CD-IAM /28/19 244,00 244,00 244,00 244,00 CD-T34969 CD-IAM /28/19 244,00 244,00 244,00 244,00 CDT CD-IAM /28/19 244,00 244,00 244,00 244, Q52 TREAS NOTE U.S. Treasury /15/19 450, (19.34) 450, , , (275.40) WL0 TREAS NOTE U.S. Treasury /31/19 504, (788.17) 503, , , (1,379.00) S43 TREAS NOTE U.S. Treasury /15/19 499, , , , (734.50) Print Date: 4/18/2018 Print Time: 8:01 am Page 2 of 5 Page 12 of 29

13 Change in Value From 12/31/2017 to 03/31/2018 CUSIP Security Type Security Description 12/31/17 Cost of Maturities / Amortization / Realized 03/31/18 12/31/17 03/31/18 Book Value Purchases Calls / Sales Accretion Gain/(Loss) Book Value Market Value Market Value Change in Mkt Value Total for (199) General Fund 112,156, ,600, (53,213,064.25) 19, ,563, ,107, ,509, ,401, (240) Child Nutrition Fund TEXPOOL LGIP TexPool 7, ,550, ,558, , ,558, ,550, TEXPRIME LGIP TexPool Prime 1, , , , , , Total for (240) Child Nutrition Fund 9, ,069, ,079, , ,079, ,069, (599) Debt Service Fund BBVA-SPRG BANK DEP BBVA Compass MM 13,071, , ,107, ,071, ,107, , TEXPOOL LGIP TexPool 3,210, ,648, (17,869,482.28) 30,988, ,210, ,988, ,778, TEXPRIME LGIP TexPool Prime 5,386, ,542, ,928, ,386, ,928, ,542, Total for (599) Debt Service Fund 21,668, ,225, (17,869,482.28) 59,024, ,668, ,024, ,356, (601) Series 2008-A Capital Project Fund TEXPOOL LGIP TexPool 84, (47,605.06) 36, , , (47,519.65) TEXPRIME LGIP TexPool Prime 28, (16,218.15) 11, , , (16,203.60) Total for (601) Series 2008-A Capital Project Fund 112, (63,823.21) 48, , , (63,723.25) (611) Series 2009 Capital Project Fund TEXPRIME LGIP TexPool Prime Total for (611) Series 2009 Capital Project Fund Print Date: 4/18/2018 Print Time: 8:01 am Page 3 of 5 Page 13 of 29

14 Change in Value From 12/31/2017 to 03/31/2018 CUSIP Security Type Security Description 12/31/17 Cost of Maturities / Amortization / Realized 03/31/18 12/31/17 03/31/18 Book Value Purchases Calls / Sales Accretion Gain/(Loss) Book Value Market Value Market Value Change in Mkt Value (621) Series 2017 Capital Project Fund TEXPOOL LGIP TexPool 15,674, , (2,767,630.61) 12,937, ,674, ,937, (2,737,694.59) TEXPRIME LGIP TexPool Prime 24,621, , (5,445,324.43) 19,202, ,621, ,202, (5,419,168.23) 74081KEB4 CP - DISC Harvard Univ 0 05/11/18 6,119, , ,144, ,117, ,142, , BDB6 CP - INT Univ of TX /15/18 15,000,00 15,000,00 14,981,85 14,989,80 7, XF2 TREAS NOTE U.S. Treasury /15/18 7,495, , ,498, ,488, ,490, , QFN6 CP - DISC J.P.Morgan Sec 0 06/22/18 9,923, ,00 9,963, ,909,66 9,952,97 43, XK1 TREAS NOTE U.S. Treasury /15/18 7,484, , ,491, ,473, ,479, , C3 TREAS NOTE U.S. Treasury /31/18 8,471, , ,482, ,448, ,460, , L40 TREAS NOTE U.S. Treasury /15/18 7,984, , ,990, ,961, ,968,44 7, A9AE1 AGCY BULET FHLB /01/18 8,380, , ,389, ,354, ,362, , M64 TREAS NOTE U.S. Treasury /15/18 9,984, , ,988, ,954,07 9,952,73 (1,34) 3133EHZG1 AGCY BULET FFCB /21/18 8,993, , ,995, ,959, ,960, AAE46 AGCY BULET FHLB /16/19 7,781, , ,786, ,750, ,747, (3,564.60) V56 TREAS NOTE U.S. Treasury /31/19 7,953, , ,963, ,938, ,936, (2,496.00) 3133EHP23 AGCY BULET FFCB /06/19 9,972, , ,978, ,959,35 9,949,86 (9,49) M2 AGCY BULET FHLB /08/19 17,423, , ,427, ,355, ,340, (14,828.25) Q52 TREAS NOTE U.S. Treasury /15/19 9,103, , ,121, ,085, ,079,94 (5,630.40) D23 TREAS NOTE U.S. Treasury /30/19 8,989, , ,991, ,971, ,948,97 (22,716.00) 3134G9NB9 AGCY CALL FHLMC /24/19 9,919, , ,933, ,907,69 9,871,96 (35,73) 3133EHB69 AGCY BULET FFCB /03/19 9,193, , ,194, ,138, ,121, (16,983.20) Total for (621) Series 2017 Capital Project Fund 210,471, , (8,212,955.04) 168, ,482, ,051, ,894, (8,156,064.77) (691) Series 2007 Capital Project Fund TEXPRIME LGIP TexPool Prime Total for (691) Series 2007 Capital Project Fund (698) Capital Project Commitment Fund TEXPOOL LGIP TexPool 2,803, , (70,113.65) 2,739, ,803, ,739, (63,775.08) TEXPRIME LGIP TexPool Prime 967, , , , , , Total for (698) Capital Project Commitment Fund 3,770, , (70,113.65) 3,710, ,770, ,710, (59,954.73) Print Date: 4/18/2018 Print Time: 8:01 am Page 4 of 5 Page 14 of 29

15 Change in Value From 12/31/2017 to 03/31/2018 CUSIP Security Type Security Description 12/31/17 Cost of Maturities / Amortization / Realized 03/31/18 12/31/17 03/31/18 Book Value Purchases Calls / Sales Accretion Gain/(Loss) Book Value Market Value Market Value Change in Mkt Value Total for 348,188, ,962, (79,429,438.43) 187, ,909, ,718, ,266, ,548, Print Date: 4/18/2018 Print Time: 8:01 am Page 5 of 5 Page 15 of 29

16 Earned Income From 12/31/2017 to 03/31/2018 CUSIP Security Type Security Description Beg. Accrued Interest Earned Interest Rec'd / Interest Purchased Ending Accrued Disc Accr / Sold / Matured Prem Amort Net Income (199) General Fund BBVA-SPRG BANK DEP BBVA Compass MM 1, , , , , TEXPOOL LGIP TexPool 234, , , TEXPRIME LGIP TexPool Prime 127, , , TXDAILY LGIP TexasDAILY 17, , , CD-T30011 CD-IAM /08/18 2, , CD-T31972 CD-IAM /08/18 2, , CD-T34353 CD-IAM /08/18 3, , CD-T57293 CD-IAM /08/18 2, , EADN6 AGCY BULET FHLMC /12/18 1, , CD-T1086 CD-IAM /05/18 2, , CD-T29209 CD-IAM /05/18 2, , CD-T34607 CD-IAM /05/18 2, , CD-T34836 CD-IAM /05/18 2, , UR9 TREAS NOTE U.S. Treasury /28/18 1, , Q94 TREAS NOTE U.S. Treasury /30/ , (44.50) CD-T24387 CD-IAM /01/18 1, , , , G0WJ8 AGCY BULET FNMA /21/ , , (60.36) 1, G9VF1 AGCY CALL FHLMC /22/ , , , CD-T26351 CD-IAM /05/18 1, , , , CD-T7742 CD-IAM /05/18 1, , , , CD-T05496 CD-IAM /20/18 1, , CD-T33823 CD-IAM /20/18 1, , CD-T4445 CD-IAM /20/18 1, , CD-T57807 CD-IAM /20/18 1, , , , CD-T33653 CD-IAM /06/18 1, , CDT CD-IAM /27/18 1, , , , C3 TREAS NOTE U.S. Treasury /31/18 12, , ,75 (24,364.64) 8, , , CD-T58261 CD-IAM /25/18 1, , , , CDT CD-IAM /25/18 1, , CD-T15118 CD-IAM /26/18 1, , , , CD-T58923 CD-IAM /26/18 1, , , , CDT CD-IAM /12/ , CD-T03330 CD-IAM /12/ , CD-T34294 CD-IAM /12/ , Print Date: 4/18/2018 Print Time: 8:01 am Page 1 of 5 Page 16 of 29

17 Earned Income From 12/31/2017 to 03/31/2018 CUSIP Security Type Security Description Beg. Accrued Interest Earned Interest Rec'd / Interest Purchased Ending Accrued Disc Accr / Sold / Matured Prem Amort Net Income (199) General Fund CDT CD-IAM /12/ , T83 TREAS NOTE U.S. Treasury /31/ , , CD-T18265 CD-IAM /02/ , CD-T26219 CD-IAM /02/ , , , CD-T01167 CD-IAM /19/ , , , CDT CD-IAM /19/ , U40 TREAS NOTE U.S. Treasury /30/ , , , CD-T22366 CD-IAM /19/ , , , CD-T33306 CD-IAM /19/ , , , CDT CD-IAM /19/ , , , CDT CD-IAM /19/ , , , CDT CD-IAM /19/ , , , CDT CD-IAM /19/ , , , CD-T31864 CD-IAM /08/19 1, , , CDT CD-IAM /08/19 1, , , CDT CD-IAM /08/19 1, , , CDT CD-IAM /08/19 1, , , CDT CD-IAM /05/ CD-T26499 CD-IAM /05/ CDT CD-IAM /05/ CDT CD-IAM /05/ CD-T34108 CD-IAM /08/ CDT CD-IAM /08/ CD-T03674 CD-IAM /14/ CD-T58377 CD-IAM /14/ P95 TREAS NOTE U.S. Treasury /15/19 1, , , , CD-T03705 CD-IAM /28/ CD-T09172 CD-IAM /28/ CDT CD-IAM /28/ CD-T34969 CD-IAM /28/ Q52 TREAS NOTE U.S. Treasury /15/ , (19.34) WL0 TREAS NOTE U.S. Treasury /31/ , , (788.17) 1, S43 TREAS NOTE U.S. Treasury /15/19 1, , , Print Date: 4/18/2018 Print Time: 8:01 am Page 2 of 5 Page 17 of 29

18 Earned Income From 12/31/2017 to 03/31/2018 CUSIP Security Type Security Description Beg. Accrued Interest Earned Interest Rec'd / Interest Purchased Ending Accrued Disc Accr / Sold / Matured Prem Amort Net Income Total for (199) General Fund 72, , , (24,364.64) 105, , , (240) Child Nutrition Fund TEXPOOL LGIP TexPool 2, , , TEXPRIME LGIP TexPool Prime 1, , , Total for (240) Child Nutrition Fund 3, , , (599) Debt Service Fund BBVA-SPRG BANK DEP BBVA Compass MM 10, , , , , TEXPOOL LGIP TexPool 51, , , TEXPRIME LGIP TexPool Prime 42, , , Total for (599) Debt Service Fund 10, , , , , (601) Series 2008-A Capital Project Fund TEXPOOL LGIP TexPool TEXPRIME LGIP TexPool Prime Total for (601) Series 2008-A Capital Project Fund (611) Series 2009 Capital Project Fund Total for (611) Series 2009 Capital Project Fund Print Date: 4/18/2018 Print Time: 8:01 am Page 3 of 5 Page 18 of 29

19 Earned Income From 12/31/2017 to 03/31/2018 CUSIP Security Type Security Description Beg. Accrued Interest Earned Interest Rec'd / Interest Purchased Ending Accrued Disc Accr / Sold / Matured Prem Amort Net Income (621) Series 2017 Capital Project Fund TEXPOOL LGIP TexPool 47, , , TEXPRIME LGIP TexPool Prime 86, , , KEB4 CP - DISC Harvard Univ 0 05/11/18 25, , BDB6 CP - INT Univ of TX /15/18 40, , ,85 55, XF2 TREAS NOTE U.S. Treasury /15/18 3, , , , , QFN6 CP - DISC J.P.Morgan Sec 0 06/22/18 40,00 40, XK1 TREAS NOTE U.S. Treasury /15/18 30, , , , , , C3 TREAS NOTE U.S. Treasury /31/18 21, , , , , , L40 TREAS NOTE U.S. Treasury /15/18 23, , ,00 3, , , A9AE1 AGCY BULET FHLB /01/18 18, , , , , M64 TREAS NOTE U.S. Treasury /15/18 16, , , , , EHZG1 AGCY BULET FFCB /21/18 3,25 29,25 32,50 1, , AAE46 AGCY BULET FHLB /16/19 44, , ,75 20, , , V56 TREAS NOTE U.S. Treasury /31/19 37, , ,00 14, , , EHP23 AGCY BULET FFCB /06/19 22, ,50 37,50 22, , , M2 AGCY BULET FHLB /08/19 82, , , , , , Q52 TREAS NOTE U.S. Treasury /15/19 17,25 19, , , , D23 TREAS NOTE U.S. Treasury /30/19 25, , , , , G9NB9 AGCY CALL FHLMC /24/19 12, ,75 43, , , EHB69 AGCY BULET FFCB /03/19 10, ,35 43, , , Total for (621) Series 2017 Capital Project Fund 411, , , , , , (691) Series 2007 Capital Project Fund Total for (691) Series 2007 Capital Project Fund (698) Capital Project Commitment Fund TEXPOOL LGIP TexPool 9, , , TEXPRIME LGIP TexPool Prime 3, , , Total for (698) Capital Project Commitment Fund 13, , , Print Date: 4/18/2018 Print Time: 8:01 am Page 4 of 5 Page 19 of 29

20 Earned Income From 12/31/2017 to 03/31/2018 CUSIP Security Type Security Description Beg. Accrued Interest Earned Interest Rec'd / Interest Purchased Ending Accrued Disc Accr / Sold / Matured Prem Amort Net Income Total for 494, ,255, ,132, (24,364.64) 642, , ,442, Print Date: 4/18/2018 Print Time: 8:01 am Page 5 of 5 Page 20 of 29

21 Investment Transactions From 01/01/2018 to 03/31/2018 Trade Date Settle Date Security Principal Int Purchased / CUSIP Type Security Description Coupon Mty Date Call Date Par Value Price Amount Received Total Amount Realized Gain / Loss YTM YTW (199) General Fund Maturities 01/08/18 01/08/18 CD-T30011 CD-IAM /08/18 247, ,00 2, , /08/18 01/08/18 CD-T31972 CD-IAM /08/18 247, ,00 2, , /08/18 01/08/18 CD-T34353 CD-IAM /08/18 246, ,00 3, , /08/18 01/08/18 CD-T57293 CD-IAM /08/18 247, ,00 2, , /12/18 01/12/ EADN6 AGCY BULET FHLMC /12/18 550, ,00 550, /05/18 02/05/18 CD-T1086 CD-IAM /05/18 246, ,00 3, , /05/18 02/05/18 CD-T29209 CD-IAM /05/18 246, ,00 3, , /05/18 02/05/18 CD-T34607 CD-IAM /05/18 247, ,00 2, , /05/18 02/05/18 CD-T34836 CD-IAM /05/18 246, ,00 3, , /28/18 02/28/ UR9 TREAS NOTE U.S. Treasury /28/18 500, ,00 500, Total for: Maturities 3,022,00 3,022,00 23, ,045, Purchases 01/08/18 01/08/18 CD-T31864 CD-IAM /08/19 245, ,00 245, /08/18 01/08/18 CDT CD-IAM /08/19 245, ,00 245, /08/18 01/08/18 CDT CD-IAM /08/19 245, ,00 245, /08/18 01/08/18 CDT CD-IAM /08/19 245, ,00 245, /24/18 01/25/ C3 TREAS NOTE U.S. Treasury /31/18 8,000, ,956, , ,980, /05/18 02/05/18 CD-T26499 CD-IAM /05/19 245, ,00 245, /05/18 02/05/18 CDT CD-IAM /05/19 244, ,00 244, /05/18 02/05/18 CDT CD-IAM /05/19 245, ,00 245, /05/18 02/05/18 CDT CD-IAM /05/19 245, ,00 245, /08/18 02/08/18 CDT CD-IAM /08/19 245, ,00 245, /08/18 02/08/18 CD-T34108 CD-IAM /08/19 245, ,00 245, /14/18 02/14/18 CD-T58377 CD-IAM /14/19 244, ,00 244, /14/18 02/14/18 CD-T03674 CD-IAM /14/19 244, ,00 244, /28/18 03/28/18 CD-T09172 CD-IAM /28/19 244, ,00 244, /28/18 03/28/18 CD-T03705 CD-IAM /28/19 244, ,00 244, /28/18 03/28/18 CD-T34969 CD-IAM /28/19 244, ,00 244, /28/18 03/28/18 CDT CD-IAM /28/19 244, ,00 244, Print Date: 4/18/2018 Print Time: 8:01 am Page 1 of 3 Page 21 of 29

22 Investment Transactions From 01/01/2018 to 03/31/2018 Trade Date Settle Date Security Principal Int Purchased / CUSIP Type Security Description Coupon Mty Date Call Date Par Value Price Amount Received Total Amount Realized Gain / Loss YTM YTW (199) General Fund Total for: Purchases 11,913,00 11,869, , ,893, Income Payments 01/12/18 01/12/ EADN6 AGCY BULET FHLMC /12/18 2, , /16/18 01/15/ S43 TREAS NOTE U.S. Treasury /15/19 1, , /28/18 02/28/ C3 TREAS NOTE U.S. Treasury /31/18 30,00 30,00 02/28/18 02/28/ C3 TREAS NOTE U.S. Treasury /31/18 18,75 18,75 02/28/18 02/28/ UR9 TREAS NOTE U.S. Treasury /28/18 1, , /15/18 03/15/ P95 TREAS NOTE U.S. Treasury /15/19 2,60 2,60 Total for: Income Payments 57, , (621) Series 2017 Capital Project Fund Income Payments 01/16/18 01/15/ XK1 TREAS NOTE U.S. Treasury /15/18 32, , /16/18 01/16/ AAE46 AGCY BULET FHLB /16/19 48,75 48,75 01/31/18 01/31/ V56 TREAS NOTE U.S. Treasury /31/19 45,00 45,00 02/06/18 02/06/ EHP23 AGCY BULET FFCB /06/19 37,50 37,50 02/28/18 02/28/ C3 TREAS NOTE U.S. Treasury /31/18 31, , /08/18 03/08/ M2 AGCY BULET FHLB /08/19 55, , /08/18 03/08/ M2 AGCY BULET FHLB /08/19 75,00 75,00 03/15/18 03/15/ L40 TREAS NOTE U.S. Treasury /15/18 40,00 40,00 Total for: Income Payments 366, , Print Date: 4/18/2018 Print Time: 8:01 am Page 2 of 3 Page 22 of 29

23 Investment Transactions From 01/01/2018 to 03/31/2018 Trade Date Settle Date Security Principal Int Purchased / CUSIP Type Security Description Coupon Mty Date Call Date Par Value Price Amount Received Total Amount Realized Gain / Loss YTM YTW Total for All Portfolios Transaction Type Quantity Total Amount Realized G/L YTM YTW Total Maturities 3,022,00 3,045, Total Purchases 11,913,00 11,893, Total Income Payments 423, Print Date: 4/18/2018 Print Time: 8:01 am Page 3 of 3 Page 23 of 29

24 Amortization and Accretion From 12/31/2017 to 03/31/2018 CUSIP Settle Date Security Type Security Description Next Call Date Purchase Qty Orig Price Original Cost Amrt/Accr for Period Total Amrt/Accr Since Purch Remaining Disc / Prem Book Value (199) General Fund CD-T /06/17 CD-IAM /08/ CD-T /06/17 CD-IAM /08/ CD-T /06/17 CD-IAM /08/ CD-T /06/17 CD-IAM /08/ EADN6 01/11/16 AGCY BULET FHLMC /12/ CD-T /03/17 CD-IAM /05/ CD-T /03/17 CD-IAM /05/ CD-T /03/17 CD-IAM /05/ CD-T /03/17 CD-IAM /05/ UR9 03/01/16 TREAS NOTE U.S. Treasury /28/ Q94 05/09/16 TREAS NOTE U.S. Treasury /30/18 500, , (44.50) (337.22) (14.34) 500, CD-T /04/17 CD-IAM /01/18 246, ,00 246, G0WJ8 06/09/16 AGCY BULET FNMA /21/18 550, , (60.36) (433.97) (33.53) 550, G9VF1 06/22/16 AGCY CALL FHLMC /22/18 03/22/18 500, ,00 500,00 CD-T /08/17 CD-IAM /05/18 246, ,00 246,00 CD-T /08/17 CD-IAM /05/18 246, ,00 246,00 CD-T /20/17 CD-IAM /20/18 246, ,00 246,00 CD-T /20/17 CD-IAM /20/18 246, ,00 246,00 CD-T /20/17 CD-IAM /20/18 246, ,00 246,00 CD-T /20/17 CD-IAM /20/18 245, ,00 245,00 CD-T /04/17 CD-IAM /06/18 245, ,00 245,00 CDT /29/17 CD-IAM /27/18 246, ,00 246, C3 08/24/17 TREAS NOTE U.S. Treasury /31/18 13,000, ,931, , , , ,959, CD-T /25/17 CD-IAM /25/18 245, ,00 245,00 CDT /25/17 CD-IAM /25/18 246, ,00 246,00 CD-T /26/17 CD-IAM /26/18 245, ,00 245,00 CD-T /26/17 CD-IAM /26/18 245, ,00 245,00 CD-T /12/17 CD-IAM /12/18 245, ,00 245,00 CD-T /12/17 CD-IAM /12/18 245, ,00 245,00 CDT /12/17 CD-IAM /12/18 245, ,00 245,00 CDT /12/17 CD-IAM /12/18 245, ,00 245, T83 11/28/16 TREAS NOTE U.S. Treasury /31/18 500, , , , , Print Date: 4/18/2018 Print Time: 8:01 am Page 1 of 3 Page 24 of 29

25 Amortization and Accretion From 12/31/2017 to 03/31/2018 CUSIP Settle Date Security Type Security Description Next Call Date Purchase Qty Orig Price Original Cost Amrt/Accr for Period Total Amrt/Accr Since Purch Remaining Disc / Prem Book Value (199) General Fund CD-T /02/17 CD-IAM /02/18 246, ,00 246,00 CD-T /02/17 CD-IAM /02/18 245, ,00 245,00 CD-T /17/17 CD-IAM /19/18 245, ,00 245,00 CDT /17/17 CD-IAM /19/18 246, ,00 246, U40 12/12/16 TREAS NOTE U.S. Treasury /30/18 500, , , CD-T /19/17 CD-IAM /19/18 245, ,00 245,00 CD-T /19/17 CD-IAM /19/18 245, ,00 245,00 CDT /19/17 CD-IAM /19/18 245, ,00 245,00 CDT /19/17 CD-IAM /19/18 245, ,00 245,00 CDT /19/17 CD-IAM /19/18 245, ,00 245,00 CDT /19/17 CD-IAM /19/18 245, ,00 245,00 CD-T /08/18 CD-IAM /08/19 245, ,00 245,00 CDT /08/18 CD-IAM /08/19 245, ,00 245,00 CDT /08/18 CD-IAM /08/19 245, ,00 245,00 CDT /08/18 CD-IAM /08/19 245, ,00 245,00 CD-T /05/18 CD-IAM /05/19 245, ,00 245,00 CDT /05/18 CD-IAM /05/19 245, ,00 245,00 CDT /05/18 CD-IAM /05/19 244, ,00 244,00 CDT /05/18 CD-IAM /05/19 245, ,00 245,00 CD-T /08/18 CD-IAM /08/19 245, ,00 245,00 CDT /08/18 CD-IAM /08/19 245, ,00 245,00 CD-T /14/18 CD-IAM /14/19 244, ,00 244,00 CD-T /14/18 CD-IAM /14/19 244, ,00 244, P95 03/16/16 TREAS NOTE U.S. Treasury /15/19 520, , , , CD-T /28/18 CD-IAM /28/19 244, ,00 244,00 CD-T /28/18 CD-IAM /28/19 244, ,00 244,00 CD-T /28/18 CD-IAM /28/19 244, ,00 244,00 CDT /28/18 CD-IAM /28/19 244, ,00 244, Q52 05/09/16 TREAS NOTE U.S. Treasury /15/19 450, , (19.34) (146.83) (81.69) 450, WL0 09/16/16 TREAS NOTE U.S. Treasury /31/19 500, , (788.17) (4,879.64) (3,733.64) 503, S43 07/18/16 TREAS NOTE U.S. Treasury /15/19 500, , , Print Date: 4/18/2018 Print Time: 8:01 am Page 2 of 3 Page 25 of 29

26 Amortization and Accretion From 12/31/2017 to 03/31/2018 CUSIP Settle Date Security Type Security Description Next Call Date Purchase Qty Orig Price Original Cost Amrt/Accr for Period Total Amrt/Accr Since Purch Remaining Disc / Prem Book Value Total for (199) General Fund 28,058,00 27,990, , , , ,018, (621) Series 2017 Capital Project Fund 74081KEB4 12/21/17 CP - DISC Harvard Univ 0 05/11/18 6,156, ,115, , , , ,144, BDB6 10/27/17 CP - INT Univ of TX /15/18 15,000, ,000,00 15,000, XF2 09/18/17 TREAS NOTE U.S. Treasury /15/18 7,500, ,492, , , , ,498, QFN6 09/26/17 CP - DISC J.P.Morgan Sec 0 06/22/18 10,000, ,880, ,00 83, , ,963, XK1 09/14/17 TREAS NOTE U.S. Treasury /15/18 7,500, ,476, , , , ,491, C3 09/14/17 TREAS NOTE U.S. Treasury /31/18 8,500, ,459, , , , ,482, L40 09/14/17 TREAS NOTE U.S. Treasury /15/18 8,000, ,978, , , , ,990, A9AE1 09/28/17 AGCY BULET FHLB /01/18 8,410, ,369, , , , ,389, M64 10/13/17 TREAS NOTE U.S. Treasury /15/18 10,000, ,980, , , , ,988, EHZG1 09/21/17 AGCY BULET FFCB /21/18 9,000, ,992, , , , ,995, AAE46 10/13/17 AGCY BULET FHLB /16/19 7,800, ,778,16 4, , , ,786, V56 11/29/17 TREAS NOTE U.S. Treasury /31/19 8,000, ,949, , , , ,963, EHP23 12/08/17 AGCY BULET FFCB /06/19 10,000, ,971,10 6, , , ,978, M2 09/18/17 AGCY BULET FHLB /08/19 17,445, ,423, , , , ,427, Q52 11/29/17 TREAS NOTE U.S. Treasury /15/19 9,200, ,096, , , , ,121, D23 11/29/17 TREAS NOTE U.S. Treasury /30/19 9,000, ,988,75 1, , , ,991, G9NB9 12/08/17 AGCY CALL FHLMC /24/19 05/24/18 10,000, ,915,50 14, , , ,933, EHB69 10/04/17 AGCY BULET FFCB /03/19 9,200, ,192, , , , ,194, Total for (621) Series 2017 Capital Project Fund 170,711,00 170,061, , , , ,343, Total for 198,769, ,052, , , , ,361, Print Date: 4/18/2018 Print Time: 8:01 am Page 3 of 3 Page 26 of 29

27 Projected Cash Flows Cash Flows for next 180 days from 03/31/2018 CUSIP Security Type Security Description Pay Date Interest Principal Total Amount (199) General Fund Q52 TREAS NOTE U.S. Treasury /15/19 04/15/18 1, , Q94 TREAS NOTE U.S. Treasury /30/18 04/30/18 1, ,00 501, T83 TREAS NOTE U.S. Treasury /31/18 04/30/18 1, , CD-T24387 CD-IAM /01/18 05/01/18 3, ,00 249, G0WJ8 AGCY BULET FNMA /21/18 05/21/18 2, ,00 552, U40 TREAS NOTE U.S. Treasury /30/18 05/31/18 2,50 2, WL0 TREAS NOTE U.S. Treasury /31/19 05/31/18 3,75 3, G9VF1 AGCY CALL FHLMC /22/18 06/22/18 2,65 500,00 502,65 CD-T26351 CD-IAM /05/18 07/05/18 3, ,00 249, CD-T7742 CD-IAM /05/18 07/05/18 3, ,00 249, S43 TREAS NOTE U.S. Treasury /15/19 07/15/18 1, , CD-T05496 CD-IAM /20/18 07/20/18 3, ,00 249, CD-T33823 CD-IAM /20/18 07/20/18 3, ,00 249, CD-T4445 CD-IAM /20/18 07/20/18 3, ,00 249, CD-T57807 CD-IAM /20/18 07/20/18 4, ,00 249, CD-T33653 CD-IAM /06/18 08/06/18 8, ,00 253, CDT CD-IAM /27/18 08/27/18 3, ,00 249, C3 TREAS NOTE U.S. Treasury /31/18 08/31/18 48,75 13,000,00 13,048, P95 TREAS NOTE U.S. Treasury /15/19 09/15/18 2,60 2,60 CD-T58261 CD-IAM /25/18 09/25/18 4, ,00 249, CDT CD-IAM /25/18 09/25/18 3, ,00 249, CD-T15118 CD-IAM /26/18 09/26/18 4, ,00 249, CD-T58923 CD-IAM /26/18 09/26/18 4, ,00 249, Total for (199) General Fund 125, ,743,00 17,868, Print Date: 4/18/2018 Print Time: 8:01 am Page 1 of 3 Page 27 of 29

28 Projected Cash Flows Cash Flows for next 180 days from 03/31/2018 CUSIP Security Type Security Description Pay Date Interest Principal Total Amount (621) Series 2017 Capital Project Fund 3130A9AE1 AGCY BULET FHLB /01/18 04/01/18 36, , Q52 TREAS NOTE U.S. Treasury /15/19 04/15/18 40,25 40, D23 TREAS NOTE U.S. Treasury /30/19 04/30/18 73, , KEB4 CP - DISC Harvard Univ 0 05/11/18 05/11/18 6,156,00 6,156, BDB6 CP - INT Univ of TX /15/18 05/15/18 124, ,000,00 15,124, M64 TREAS NOTE U.S. Treasury /15/18 05/15/18 62,50 62, G9NB9 AGCY CALL FHLMC /24/19 05/24/18 61,50 61, EHB69 AGCY BULET FFCB /03/19 06/03/18 66,70 66, XF2 TREAS NOTE U.S. Treasury /15/18 06/15/18 42, ,500,00 7,542, EHZG1 AGCY BULET FFCB /21/18 06/21/18 58,50 58, QFN6 CP - DISC J.P.Morgan Sec 0 06/22/18 06/22/18 10,000,00 10,000, XK1 TREAS NOTE U.S. Treasury /15/18 07/15/18 32, ,500,00 7,532, AAE46 AGCY BULET FHLB /16/19 07/16/18 48,75 48, V56 TREAS NOTE U.S. Treasury /31/19 07/31/18 45,00 45, EHP23 AGCY BULET FFCB /06/19 08/06/18 75,00 75, C3 TREAS NOTE U.S. Treasury /31/18 08/31/18 31, ,500,00 8,531, M2 AGCY BULET FHLB /08/19 09/08/18 130, , L40 TREAS NOTE U.S. Treasury /15/18 09/15/18 40,00 8,000,00 8,040,00 Total for (621) Series 2017 Capital Project Fund 969, ,656,00 63,625, Print Date: 4/18/2018 Print Time: 8:01 am Page 2 of 3 Page 28 of 29

29 Projected Cash Flows Cash Flows for next 180 days from 03/31/2018 CUSIP Security Type Security Description Pay Date Interest Principal Total Amount Total for All Portfolios April , ,00 655, May , ,952,00 22,211, June , ,000,00 18,170, July , ,975,00 9,126, August , ,991,00 22,158, September , ,981,00 9,171, Total Projected Cash Flows for 1,095, ,399,00 81,494, Print Date: 4/18/2018 Print Time: 8:01 am Page 29 of 29 Page 3 of 3