Quarterly Investment Report February 28, 2013 May 31, 2013

Transcription

1 Quarterly Investment Report February 28, 203 May 3, 203

2 Tapering is the Word and the Focus 0.8 MtoM % Change in CPI Ap'2 Jun'2 Dec'2 Apr'3 Although grindingly slow, the economy is improving and the markets are all fixated on future moves anticipated from the Federal Reserve. Comments from Fed officials have abounded and the question has become when will it start whether than will it. And, the target dates appear to be sooner rather than later although all is dependent on economic strength and controlled inflation. Real growth in the GDP still comes from the consumer, who is getting more job confident. Chairman Bernanke said We could, in the next few meetings, take a step down in our pace of purchases. Which signaled a smaller volume in longterm mortgage purchases. Current buying is set at a 85 billion/ month level, so even a downturn to 70 billion will move markets to envision higher rates. Fears of the tapering has weighed on the stock markets and caused increased volatility. In the bond market yields have risen slightly.

3 Tapering might be more effective than the ease itself The question will remain for debate as to whether the massive easing actions have helped the US economy. Rates have remained low, but banks are still lending only 0.78 per dollar of deposits. Restrictive financial legislation (DoddFrank) and Basel III have hobbled banks. Low job growth has stopped mortgage growth despite rates. If the economy strengthens sufficiently for the Fed to begin tapering their purchases, the real winner is the US dollar. The tapering has already strengthened the dollar. This lowers inflation and increases purchasing power, builds inventories and ultimately adds jobs. The dark side of a stronger dollar and the tapering in inflation could result from the move and the current historically high liquidity levels. That will remain the next challenge. Reining it in. Both moves will ultimately raise rates. Stronger US Lower Inflation Purchasing Power Economic growth

4 FOMC Moves are Controlling Several of the Fed Open Markets Committee voting members have been speaking and testing the waters about a future tapering. A key first indicator of the viability of tapering will come June 7 th with the employment number for May. A strong growth in employment (over 200,000) will lead to speculation of nearterm start. Without strong employment numbers the market may back up and bring rates down again. There is the threat of a possible additional downgrade of US debt because of the continuing debttogdp ratio which has improved slightly since sequestration, but is it enough? All the rating agencies have the US on credit watch. With economic conditions globally, it may not make much difference except for funds or managers who have policy restrictions to AAA Fed s Easing program has kept rates low along with uncertainty globally May3 Mar3 Feb3 Dec2 Sep mo 6mo yr 2yr 3yr 5yr 0yr 30yr End of Month Rates Full Yield Curve Fed Funds to 30yr

5 Texas Legislative Update SB58 is awaiting the Governor s expected signature after passing the legislature. The Bill amends the Public Funds Collateral Act. No changes were made to the Public Funds Investment Act. SB58 has two sections. When a new security is pledged, the custodian will issue a sameday trust receipt to the pledging bank with instructions to send it to the public entity. It will not be sent directly to the public entity! A monthly, or asneeded, list of the pledged collateral must be requested by the public entity. The result is that if you want monthly collateral reports you must request it of the custodian. A written request is recommended. The request should be put into your banking RFPs and in your policy section on collateral.

6

7 Various Pooled Funds As of May 3, 203 P&A constantly reviews your portfolio for optimal asset allocation and a controlled average maturity because a diversified portfolio can better adjust to volatile market conditions. Tax Bond I&S 7.57% Other 2.963% The extremely low shortterm rates make diversification difficult and they are reasonably expected to continue now at least through 203. Local Main % Banks remain uninterested in accepting new deposits and CD rates are unusually low. Municipal bonds are adding value in many portfolios adding a safe alternative. Portfolios are cash heavy as we struggle to find value with a flat yield curve which provides little value under six months. This should start to change in 203 hopefully the second quarter o/n 03mos 36mos 69mos 92mos > yr

8 Revenue Bond Constr. As of May 3, 203 P&A constantly reviews your portfolio for optimal asset allocation and a controlled average maturity because a diversified portfolio can better adjust to volatile market conditions. LOGIC 0.05% Texpool 0.05% CD 0% TexStar 0.05% MM 7.860% The extremely low shortterm rates make diversification difficult and they are reasonably expected to continue now at least through 203. Banks remain uninterested in accepting new deposits and CD rates are unusually low. Wells Fargo % Municipal bonds are adding value in many portfolios adding a safe alternative. Portfolios are cash heavy as we struggle to find value with a flat yield curve which provides little value under six months. This should start to change in 203 hopefully the second quarter o/n 03mos 36mos 69mos 92mos > year

9

10 Del Mar College Summary by Type May 3, 203 Grouped by Fund Patterson & Associates 30 Congress Ave Suite 570 Austin, TX 7870 Security Type Number of Investments Par Value % of Portfolio Average 365 Average Days to Fund: Local Maintenance Municipal Obligations 5,980,00 2,084, CD's Interest at 2 492, , LOGIC 4,932, ,932, Money Market Fund 248, , TexPool 5, , TexSTAR 7, , Bank Accts/CD's Int. Mon/Qtr/Ann 8 26,303, ,303, Fund: Plant Subtotal 9 43,969, ,074, Bank Accts/CD's Int. Mon/Qtr/Ann 4,789, ,789, Fund: Revenue Bond Construction Subtotal 4,789, ,789, Money Market Fund 3 509, , LOGIC TexPool TexSTAR,30.79, Bank Accts/CD's Int. Mon/Qtr/Ann 2 6,00, ,00, Fund: Rev Bond I & S Subtotal 8 6,53, ,53, LOGIC 09, , CD's Interest at 444, , TexPool 6, , Bank Accts/CD's Int. Mon/Qtr/Ann 2 2,643, ,643, Subtotal 5 3,24, ,24, Run : 06/20/203 6:08 ST (PRF_ST) 7.2.0

11 Del Mar College Summary by Type May 3, 203 Grouped by Fund Page 2 Security Type Number of Investments Par Value % of Portfolio Average 365 Average Days to Fund: Tax Bond I&S LOGIC 8,688, ,688, TexPool 0,7.86 0, Bank Accts/CD's Int. Mon/Qtr/Ann 2,022,0.87 2,022, Fund: TPEG Loan Subtotal 3 0,82, ,82, LOGIC,645.0, TexPool 70, , Subtotal 2 72, , Total and Average 38 69,480, ,585, Run : 06/20/203 6:08 ST (PRF_ST) 7.2.0

12 Del Mar College Fund LMAIN Local Maintenance Investments by Fund May 3, 203 Patterson & Associates 30 Congress Ave Suite 570 Austin, TX 7870 CUSIP Investment # Issuer CD's Interest at Purchase Par Value Market Value 0378C 76 Charter Bank /29/ ,00 245,00 245, /29/ A 73 Value Bank Texas 07/27/ , , , /27/ Municipal Obligations Current Rate Days To Subtotal and Average 492, , , KV7 66 Alamo Comm. College Texas 03/22/202 2,000,00 2,000,00,998, /0/ GCV4 67 Florida St Hurricane Cat. Fund 04/3/202 3,0, ,000,00 3,00, /0/ CB0 85 New York St Environmental 05/24/203 2,068, ,000,00 2,066, /5/ M9 8 State of Ohio Water Dev Corp 04/30/ ,00 980,00 980, /0/ RDK2 84 Toms River NJ 05/03/203 4,025, ,000,00 4,025, /27/ Bank Accts/CD's Int. Mon/Qtr/Ann Subtotal and Average 2,084,825.34,980,00 2,08, Crockett National Bank 07/6/ ,00 245,00 245, /6/ Hillcrest Bank NOW Account 0/22/ , , , B 79 IBC Bank 0/28/ ,00 245,00 245, /28/ A 62 Viewpoint Bank 2/9/20,0,60.60,0,60.60,0, /9/ B 75 Viewpoint Bank /9/202,0,934.53,0,934.53,0, /9/ Viewpoint Bank 05/0/203,000,345.2,000,345.2,000, /0/ Wells Fargo Choice IV Sweep 09/0/2008,723,352.28,723,352.28,723, Wells Fargo Business Premium 0/2/200 20,538, ,538, ,538, TexPool Subtotal and Average 26,303, ,303, ,303, TexPool 09/0/2006 5, , , LOGIC Subtotal and Average 5, , , LOGIC 09/0/2006 4,932, ,932, ,932, Subtotal and Average 4,932, ,932, ,932, Run : 06/20/203 09:45 FI (PRF_FI) 7..

13 Fund LMAIN Local Maintenance Investments by Fund Page 2 May 3, 203 CUSIP Investment # Issuer Purchase Par Value Market Value Current Rate Days To TexSTAR TexSTAR 09/0/2006 7, , , Subtotal and Average 7, , , Money Market Fund TexStar National Bank /03/ , , , Subtotal and Average 248, , , Total Investments and Average 44,074, ,969, ,07, Run : 06/20/203 09:45 FI (PRF_FI) 7..

14 Fund PLANT Plant Investments by Fund Page 3 May 3, 203 CUSIP Investment # Issuer Purchase Par Value Market Value Current Rate Days To Bank Accts/CD's Int. Mon/Qtr/Ann B 78 Wells Fargo Business Premium 08/3/202 4,789, ,789, ,789, Subtotal and Average 4,789, ,789, ,789, Total Investments and Average 4,789, ,789, ,789, Run : 06/20/203 09:45 FI (PRF_FI) 7..

15 Fund RBC Revenue Bond Construction Investments by Fund Page 4 May 3, 203 CUSIP Investment # Issuer Purchase Par Value Market Value Current Rate Days To Bank Accts/CD's Int. Mon/Qtr/Ann Hillcrest Bank NOW Account 06/29/2009 2, , , A 7 Wells Fargo Business Premium 05/09/202 5,999, ,999, ,999, Subtotal and Average 6,00, ,00, ,00, TexPool TexPool 04/5/ Subtotal and Average LOGIC LOGIC 04/5/ Subtotal and Average TexSTAR TexSTAR 04/5/2008,30.79,30.79, Subtotal and Average,30.79,30.79, Money Market Fund Hillcrest Bank Bus. MMDA Acct 06/29/ , , , Libertad Bank 06/29/ , , , Texas Champion Gold Medal MMA 02/05/200 2, , , Subtotal and Average 509, , , Total Investments and Average 6,53, ,53, ,53, Run : 06/20/203 09:45 FI (PRF_FI) 7..

16 Fund RBIS Rev Bond I & S Investments by Fund Page 5 May 3, 203 CUSIP Investment # Issuer Purchase Par Value Market Value Current Rate Days To CD's Interest at Texas Champion Bank 05/23/ , , , /22/ Subtotal and Average 444, , , Bank Accts/CD's Int. Mon/Qtr/Ann Texas Champion Bank 05/6/ , , , /4/ A 83 Viewpoint Bank 04/0/203 2,203, ,203, ,203, /0/ Subtotal and Average 2,643, ,643, ,643, TexPool TexPool 09/0/2006 6, , , Subtotal and Average 6, , , LOGIC LOGIC 08/27/ , , , Subtotal and Average 09, , , Total Investments and Average 3,24, ,24, ,24, Run : 06/20/203 09:45 FI (PRF_FI) 7..

17 Fund TAX Tax Bond I&S Investments by Fund Page 6 May 3, 203 CUSIP Investment # Issuer Purchase Par Value Market Value Current Rate Days To Bank Accts/CD's Int. Mon/Qtr/Ann A 82 Viewpoint Bank 03/8/203 2,022,0.87 2,022,0.87 2,022, /8/ Subtotal and Average 2,022,0.87 2,022,0.87 2,022, TexPool TexPool 09/0/2006 0,7.86 0,7.86 0, Subtotal and Average 0,7.86 0,7.86 0, LOGIC LOGIC 09/0/2006 8,688, ,688, ,688, Subtotal and Average 8,688, ,688, ,688, Total Investments and Average 0,82, ,82, ,82, Run : 06/20/203 09:45 FI (PRF_FI) 7..

18 Fund TPEG TPEG Loan Investments by Fund Page 7 May 3, 203 CUSIP Investment # Issuer Purchase Par Value Market Value Current Rate Days To TexPool TexPool 09/0/ , , , Subtotal and Average 70, , , LOGIC LOGIC 09/0/2006,645.0,645.0, Subtotal and Average,645.0,645.0, Total Investments and Average 72, , , Run : 06/20/203 09:45 FI (PRF_FI) 7..

19 Del Mar College Cash Reconciliation Report For the Period March, 203 May 3, 203 Grouped by Fund Patterson & Associates 30 Congress Ave Suite 570 Austin, TX 7870 Trans. Trans. Investment # Fund Type Security ID Par Value Security Description Purchases Interest Redemptions Cash Local Maintenance 03/0/ LMAIN Interest S8 4,000,00 LMABAN 4.0M 2.00% Mat. 03/0/203 80,00 80,00 03/0/ LMAIN S8 4,000,00 LMABAN 4.0M 2.00% Mat. 03/0/203 4,000,00 4,000,00 03/3/ LMAIN Interest A,005, VPB.0M 0.45% Mat. 06/9/203 06/9/ /3/ LMAIN Interest A,005, VPB.0M 0.45% Mat. 06/9/203 06/9/ /3/ LMAIN Interest B,009,53.4 VPB.0M 0.45% Mat. 05/9/204 05/9/ /3/ LMAIN Interest B,009,53.4 VPB.0M 0.45% Mat. 05/9/204 05/9/ /0/ LMAIN Interest 59465MZP3 2,255,00 MSHD 2.3M 0.50% Mat. 04/0/203 04/0/203 5, , /0/ LMAIN 59465MZP3 2,255,00 MSHD 2.3M 0.50% Mat. 04/0/203 04/0/203 2,255,00 2,255,00 04/30/ LMAIN Interest A,005, VPB.0M 0.45% Mat. 06/9/203 06/9/ /30/ LMAIN Interest A,005, VPB.0M 0.45% Mat. 06/9/203 06/9/ /30/ LMAIN Interest B,009,53.4 VPB.0M 0.45% Mat. 05/9/204 05/9/ /30/ LMAIN Interest B,009,53.4 VPB.0M 0.45% Mat. 05/9/204 05/9/ /30/203 8 LMAIN Purchase M9 980,00 SOWDC.0M 0.40% Mat. 06/0/ ,00 980,00 05/0/ LMAIN Interest 0420KV7 2,000,00 ACCTX 2.0M 0.49% Mat. /0/203 /0/203 4,92 4,92 05/0/ LMAIN Interest ZY3 2,000,00 HCNJ 2.0M 0.75% Mat. 05/0/203 05/0/203 5,00 5,00 05/0/ LMAIN ZY3 2,000,00 HCNJ 2.0M 0.75% Mat. 05/0/203 05/0/203 2,000,00 2,000,00 05/03/ LMAIN Purchase 8902RDK2 4,000,00 TRNJ 4.0M.25% Mat. 02/27/204 02/27/204 4,028,32 4,028,32 05/0/ LMAIN Purchase ,000,00 VPB.0M 0.60% Mat. /0/204 /0/204,000,00,000,00 05/24/ LMAIN Purchase CB0 2,000,00 NYSE 2.0M 4.65% Mat. 03/5/204 03/5/204 2,069,68 7, ,087, /3/ LMAIN Interest A,005, VPB.0M 0.45% Mat. 06/9/203 06/9/ /3/ LMAIN Interest A,005, VPB.0M 0.45% Mat. 06/9/203 06/9/ /3/ LMAIN Interest B,009,53.4 VPB.0M 0.45% Mat. 05/9/204 05/9/ /3/ LMAIN Interest B,009,53.4 VPB.0M 0.45% Mat. 05/9/204 05/9/ /3/ LMAIN Interest ,000,00 VPB.0M 0.60% Mat. /0/204 /0/ /3/ LMAIN Interest ,000,00 VPB.0M 0.60% Mat. /0/204 /0/ Rev Bond I & S Subtotal 8,080, ,37.7 8,255,00 264, /0/ RBIS Interest ,80,00 VPB 2.2M 0.65% Mat. 04/0/203 04/0/203,253.76, /0/ RBIS Interest ,80,00 VPB 2.2M 0.65% Mat. 04/0/203 04/0/203,253.76, /0/ RBIS Purchase A 2,20, VPB 2.2M 0.60% Mat. 0/0/204 0/0/204 2,20, ,20, /30/ RBIS Interest A 2,20, VPB 2.2M 0.60% Mat. 0/0/204 0/0/204,049.42, /30/ RBIS Interest A 2,20, VPB 2.2M 0.60% Mat. 0/0/204 0/0/204,049.42, /09/ RBIS Interest ,00 TCHB 0.4M.25% Mat. 05/09/203 05/09/203,932.99, /6/ RBIS Purchase ,00 TCHB 0.4M 0.50% Mat. 05/4/205 05/4/ ,00 440,00 05/23/ RBIS Interest , TCHB 0.4M 0.60% Mat. 05/23/203 05/23/203 2, , /23/ RBIS , TCHB 0.4M 0.60% Mat. 05/23/203 05/23/ , , /23/ RBIS Purchase , TCHB 0.4M 0.50% Mat. 05/22/204 05/22/ , , Run : 06/20/203 09:47 AC (PRF_AC) 7.2.0

20 Del Mar College Cash Reconciliation Report For the Period March, 203 May 3, 203 Page 2 Trans. Investment # Fund Trans. Type Security ID Par Value Security Description Purchases Interest Redemptions Cash Rev Bond I & S 05/3/ RBIS Interest A 2,20, VPB 2.2M 0.60% Mat. 0/0/204 0/0/204,22.33, /3/ RBIS Interest A 2,20, VPB 2.2M 0.60% Mat. 0/0/204 0/0/204,22.33, /3/ RBIS Interest ,00 TCHB 0.4M 0.50% Mat. 05/4/205 05/4/ /3/ RBIS Interest ,00 TCHB 0.4M 0.50% Mat. 05/4/205 05/4/ Tax Bond I&S Subtotal 3,089, , , ,636, /8/ TAX Interest ,000,00 VPB 2.0M 0.65% Mat. 03/8/203 03/8/ /8/ TAX Interest ,000,00 VPB 2.0M 0.65% Mat. 03/8/203 03/8/ /8/ TAX Purchase A 2,09,644.5 VPB 2.0M 0.60% Mat. 09/8/204 09/8/204 2,09, ,09, /3/ TAX Interest A 2,09,644.5 VPB 2.0M 0.60% Mat. 09/8/204 09/8/ /3/ TAX Interest A 2,09,644.5 VPB 2.0M 0.60% Mat. 09/8/204 09/8/ /30/ TAX Interest A 2,09,644.5 VPB 2.0M 0.60% Mat. 09/8/204 09/8/ /30/ TAX Interest A 2,09,644.5 VPB 2.0M 0.60% Mat. 09/8/204 09/8/ /3/ TAX Interest A 2,09,644.5 VPB 2.0M 0.60% Mat. 09/8/204 09/8/204,029.92, /3/ TAX Interest A 2,09,644.5 VPB 2.0M 0.60% Mat. 09/8/204 09/8/204,029.92, Subtotal 2,022, ,04.9 2,09,644.5 Total 3,92, , ,699, ,39, Run : 06/20/203 09:47 AC (PRF_AC) 7.2.0

21 Del Mar College Purchases Report Sorted by Fund Fund March, 203 May 3, 203 Patterson & Associates 30 Congress Ave Suite 570 Austin, TX 7870 Sec. CUSIP Investment # Fund Type Issuer Local Maintenance M9 8902RDK LMAIN LMAIN MC MC LMAIN RRP CB0 85 LMAIN MC SOWDC TRNJ VPB NYSE Original Par Value Purchase Payment Periods Principal Purchased Accrued Interest Rate at at Purchase Purchase Ending 980,00 04/30/203 06/0 2/0 980, /0/ ,00 4,000,00 05/03/203 02/27 Final Pmt. 4,028, /27/ ,025,622.86,000,00 05/0/203 / Monthly,000, /0/ ,000, ,000,00 05/24/203 09/5 03/5 2,069,68 7, /5/ ,068, Subtotal 7,980,00 8,078,00 7, ,073,97.92 Rev Bond I & S A 83 RBIS RRP RBIS RRP RBIS BCD VPB TCHB TCHB 2,20, /0/203 / Monthly 2,20, /0/ ,203, ,00 05/6/203 / Monthly 440, /4/ , , /23/203 05/22 At 444, /22/ , Subtotal 3,085, ,085, ,088, Tax Bond I&S A 82 TAX RRP VPB 2,09, /8/203 / Monthly 2,09, /8/ ,022,0.87 Subtotal 2,09, ,09, ,022,0.87 Total Purchases 3,085, ,83, , ,84,24.53 Run : 06/20/203 09:46 PU (PRF_PU) 7..

22 Del Mar College Report Sorted by Amounts due during March, 203 May 3, 203 Patterson & Associates 30 Congress Ave Suite 570 Austin, TX 7870 Sec. CUSIP Investment # Fund Type Issuer S8 65 Par Value Purchase Rate at at Interest Proceeds LMAIN MC LMABAN 4,000,00 03/0/203 03/0/ ,000,00 80,00 4,080,00 80, TAX RRP VPB 2,08, /8/203 09/5/ ,08, ,08, MZP3 64 LMAIN MC MSHD 2,255,00 04/0/203 02/6/ ,255,00 5, ,260, , RBIS RRP VPB 2,200, /0/203 09/30/ ,200,9.06 2,200, ZY3 69 LMAIN MC HCNJ 2,000,00 05/0/203 05/02/ ,000,00 5,00 2,05,00 5, RBIS RRP TCHB 440,00 05/09/203 05/2/ ,00 440, RBIS BCD TCHB 444, /23/203 05/24/ , , , ,659.5 Total Maturities 3,358, ,358, , ,46, , Net Income Run : 06/20/203 09:46 MA (PRF_MA) 7..

23 Del Mar College Interest Earnings Sorted by Fund Fund March, 203 May 3, 203 Yield on Average Patterson & Associates 30 Congress Ave Suite 570 Austin, TX 7870 Adjusted Interest Earnings CUSIP Investment # Fund Security Type Ending Par Value Beginning Average CurrentAnnualized Rate Yield Interest Earned Amortization/ Accretion Adjusted Interest Earnings Fund: Local Maintenance LMAIN RR4 7, , , LMAIN RR3 4,932, ,930, ,93, ,788.29, LMAIN RR2 5, , , B 75 LMAIN RRP,0,934.53,00,787.6,0, /9/ ,46.92, A 62 LMAIN RRP,0,60.60,00,455.06,00, /9/ ,46.54, LMAIN RRP,000, ,34.9 /0/ LMAIN RRP,723,352.28,83,867.80,80, C 76 LMAIN BCD 245,00 245,00 245,00 /29/ LMAIN RR5 248, , , A 73 LMAIN BCD 247, , , /27/ LMAIN RRP 527, , , B 79 LMAIN RRP 245,00 245,00 245,00 07/28/ LMAIN RRP 20,538, ,366, ,330, , , MZP3 64 LMAIN MC 2,254, , /0/ KV7 66 LMAIN MC 2,000,00 2,000,00 2,000,00 /0/ ,46 2, GCV4 67 LMAIN MC 3,000,00 3,044, ,027, /0/ ,50 33, , ZY3 69 LMAIN MC 2,000,63.79,326, /0/ , , LMAIN RRP 245,00 245,00 245,00 09/6/ M9 8 LMAIN MC 980,00 340, /0/ RDK2 84 LMAIN MC 4,000,00,269, /27/ , ,697.4, CB0 85 LMAIN MC 2,000,00 79, /5/ ,808.33, Subtotal 43,969, ,22, ,009, , , , Fund: Plant B 78 PLANT RRP 4,789, ,786,66.9 4,787, , , Subtotal 4,789, ,786,66.9 4,787, , , Fund: Revenue Bond Construction RBC RR4,30.79,30.65, Run : 06/20/203 09:48 IE (PRF_IE) 7.2.0

24 Del Mar College Interest Earnings March, 203 May 3, 203 Page 2 Adjusted Interest Earnings CUSIP Investment # Fund Security Type Ending Par Value Beginning Average CurrentAnnualized Rate Yield Interest Earned Amortization/ Accretion Adjusted Interest Earnings Fund: Revenue Bond Construction RBC RR5 249, , , RBC RRP 2, , , A 7 RBC RRP 5,999, ,887, ,930, , , RBC RR5 247, , , RBC RR5 2, , , Subtotal 6,52, ,395, ,468, ,57. 5,57. Fund: Rev Bond I & S RBIS RR3 09, , , RBIS RR2 6, , , A 83 RBIS RRP 2,203,544.50,459, /0/ ,7.75 2, RBIS RRP 2,200, , /0/ ,253.76, RBIS BCD 444, , /22/ RBIS RRP 440, , /4/ RBIS RRP 440,00 330,00 05/09/ ,033.92, RBIS BCD 444, , /23/ Subtotal 3,24, ,2, ,78, , , Fund: Tax Bond I&S TAX RR3 8,688, ,689, ,78, , , TAX RR2 0,7.86 0, , TAX RRP 2,08, , /8/ A 82 TAX RRP 2,022,0.87,647, /8/ , , Subtotal 0,82, ,89,5.04 9,92, , ,98.56 Fund: TPEG Loan TPEG RR3,645.0,644.32, TPEG RR2 70, , , Subtotal 72, , , Total 69,479, ,606, ,528, , , , Run : 06/20/203 09:48 IE (PRF_IE) 7.2.0

25 Del Mar College Amortization Schedule March, 203 May 3, 203 Sorted By Fund Fund Patterson & Associates 30 Congress Ave Suite 570 Austin, TX 7870 Investment # Issuer Fund Amort. Beginning Par Value Current Rate Purchase Principal Original Premium or Discount Ending Amounts Amortized And Unamortized As of 03/0/203 Amount Amortized This Period Amt Amortized Through 05/3/203 Amount Unamortized Through 05/3/203 Local Maintenance 67 LMAIN 07/0/203 3,000,00 3,63,50 63,50 3,0, , , ,30.37,98.63 Florida St Hurricane Cat. Fund , LMAIN 05/0/203 2,000,00 2,000, Hudson County NJ GO LMAIN 03/0/203 4,000,00 4,059,68 59,68 59,68 59,68 Lawrence MA BAN LMAIN 04/0/203 2,255,00 2,254, Michigan State Housing Dev LMAIN 03/5/204 2,000,00 2,069,68 69,68 2,068,003.85,676.5, , New York St Environmental ,68 84 LMAIN 02/27/204 4,000,00 4,028,32 28,32 4,025, , , , Toms River NJ ,32 Subtotal 7,577, , ,04, , , , ,32. Total 7,577, , ,04, , , ,32. 42, , , Run : 06/20/203 09:48 AS (PRF_ASW) 7.2.

26 Del Mar College Projected Cashflow Report Sorted by Fund For the Period June, 203 December 3, 203 Patterson & Associates 30 Congress Ave Suite 570 Austin, TX 7870 Projected Trans. Transaction Investment # Fund Security ID Type Issuer Par Value Local Maintenance Original Cost 06/0/203 8 LMAIN M9 Interest State of Ohio Water Dev Corp /0/ LMAIN 34074GCV4 Florida St Hurricane Cat. Fund 3,000,00 3,63,50 3,000,00 75,00 3,075,00 09/5/ LMAIN CB0 Interest New York St Environmental 46,50 46,50 /0/ LMAIN 0420KV7 Alamo Comm. College Texas 2,000,00 2,000,00 2,000,00 4,92 2,004,92 /29/ LMAIN 0378C Charter Bank 245,00 245,00 245, , /0/203 8 LMAIN M9 Interest State of Ohio Water Dev Corp,96,96 Principal Interest Total for Local Maintenance 5,245,00 5,408,50 5,245,00 29, ,374, Total GRAND TOTALS: 5,245,00 5,408,50 5,245,00 29, ,374, Run : 06/20/203 09:47 PC (PRF_PC) 7.2.0

27 Del Mar College Summary of Investments Investment Type May 3, 203 May 3, 203 Market Value Equity Securities U.S. Common Stock Equity Mutual Funds Other Equity Securities (list) Total Equity Securities Other Investments Real Estate Private Equity Annuities Collective Endowment Funds Commodities Collectibles Other (list) Total Other Investments Del Mar College Summary of Investments May 3, 203 May 3, 203 Investment Type Market Value Debt Investments > year U.S. Government U.S. Government Agency MortgagePassThroughs CMOs: Interest Only Strips Principal Only Strips Inverse Floaters Stated Maturities Longer than 0 years PFIA Compliant CMOs Other AssetBacked Bonds Foreign Issued Obligations Municipal Obligations 2,084, ,08,88 Corporate Obligations: Highly Rated (AAA/AA) Investment Grade (A/BBB) NR/High Yield (<BBB) GICs Bond Mutual Funds Other (list) Total Debt Investments > year 2,084, ,08,88

28 Summary of Investments May 3, 203 May 3, 203 Investment Type Market Value Short Term Investments U.S. Government U.S. Government Agency CDs/BAs 9,6, ,6, A/P Commercial Paper Repurchase Agreements TexPool 304, , Other Money Market Funds and Pools 48,079, ,079,3.83 Bank Deposits Cash Held at State Treasury Other (list) Total Short Term Investments 57,500, ,500, Investment Disclosures: Del Mar College utilizes an outside investment advisor, Patterson & Associates, located at 30 Congress Avenue #570 in Austin, Texas. The investment advisory service provided is on a nondiscretionary basis, meaning the investment advisor obtains prior approval for all investment transactions from Del Mar College. No soft dollar arrangements are used by Del Mar College or Patterson & Associates. The Summary of Investments above for Del Mar College are not associated with an independent endowment or foundation. Explanantions of Applicable Asset Classes Del Mar College TOTAL INVESTMENTS 69,585, ,582, Other Money Market Funds and Pools ShortTerm Investments TexPool Investments U.S. Government Agency Securities U.S. Government Money funds and pools with a constant.00 per share net asset value objective. Includes all debt investments with a maturity (as of purchase date) of less than one year and all cash and bank deposits. Investments in TexPool. Includes other Texas pool investments with other money market funds. Securities issued by U.S. governmentsponsored agencies or corporations such as FNMA, FHLMC, or FHLB that do not have full faith and credit guarantees from the U.S. Includes Treasuries and any other investment with an affirmative full faith and credit guarantees from the U.S. Government.