BOARD OF SUPERVISORS AGENDA LETTER

Transcription

1 BOARD OF SUPERVISORS AGENDA LETTER Agenda Number: Clerk of the Board of Supervisors 105 E. Anapamu Street, Suite 407 Santa Barbara, CA (805) Department Name: Department No.: For Agenda Of: Placement: Treasurer - Tax Collector 065 5/10/16 Administrative Estimated Tme: Continued Item: No If Yes, date from: Vote Required: TO: Board of Supervisors FROM: Department Director(s) Contact Info: SUBJECT: Majority Harry E. Hagen, CPA, CPFO, ACPFIM, CFIP, Treasurer-Tax Collector ~ <: ) ~ Jennifer C. Christ sen, JD BA CPFO CFIP, Investment and Debt Officer Treasurer's Investment Pool, FY Third Quarter (Jan - Mar 2016) County Counsel Concurrence Auditor-Controller Concurrence As to form: NI A As to form: NI A Other Concurrence: As to form: NIA Recommended Actions: That the Board of Supervisors: A) Accept for filing the Fiscal Year Third Quarter (January - March 2016) 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 March 31, 2016, was $1,283,387,558. Market value of the investment pool was $1,285,838,118. The weighted average days-to-maturity (WAM) for the investment pool was 333 days. The Treasurer's Investment Pool earned $1,775,295 for the quarter ending March 31, 2016, an annualized return of 0.578%. The net yield earned over the past year is 0.423%. 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 of2 For the quarter ending March 31, 2016, 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 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 100% 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 March 31, 2016, net investment earnings achieved by the Treasurer's Investment Pool were $1,775,295, with the County receiving 39%, Schools 52%, and Special Districts the balance of 9%. The net yield earned for the quarter on an annualized basis is 0.578% and over the past year is 0.423%. Attachments: 1. Treasurer's Third Quarter Investment Pool Report (January - March 20 16) Authored by: Jennifer C. Christensen, JD MBA CPFO CFIP, Investment and Debt Officer G:\TR\Investing\TIPQrtrlyReport\ \ TIPBoardAgendaLetter.doc!BoardLetter2006.dot v 1106c

3 SANTA BARBARA COUNTY TREASURER S REPORT TO THE BOARD OF SUPERVISORS AND THE TREASURY OVERSIGHT COMMITTEE FOR THE QUARTER ENDED March 31, 2016

4 ECONOMIC TREND The Federal Open Market Committee (Committee) decided to maintain the target federal funds rate at 0.25% to 0.50% at its March meeting. As summarized in the Beige Book issued April 13, 2016, reports from the twelve Federal Reserve Districts suggest that national economic activity continued to expand in late February and March. Most Districts said that economic growth was in the modest to moderate range and that contacts expected growth would remain in that range going forward. 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 5.0% and ended the quarter at 5.0%. California s preliminary unemployment rate was 5.4% in March. 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 0.9 at the end of March. The Core CPI, which excludes food and energy, was 2.2 at the end of March. 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 96.3 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 2014 at -0.9%. Subsequently, the economy continued to recover. For the most recent quarter ending December 2015, the economy reported GDP at 1.4%. 6 Source: Bureau of Economic Analysis

9 Santa Barbara County Treasurer's Investment Pool Statement of Assets As of March 31, 2016 Asset Description Cost Net Unrealized Holding Gains/(Losses) Fair Value* 3/31/2016 Percent of Portfolio Yield to Weighted Average Days to Fair Value 12/31/2015 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 $ 127,672,806 50,000,000 65,000, ,745, ,236, ,205, ,526,941 $ - $ 127,672,806-50,000,000-65,000, , ,734, , ,780, , ,925, , ,725, $ 166,363,456 15,000,000 50,000, ,455, ,072, ,173, ,805,572 $ (38,690,650) 35,000,000 15,000,000 (50,720,874) (15,292,155) 7,751,300 70,919,504 Total $ 1,283,387,558 $ 2,450,560 $ 1,285,838, $ 1,261,870,993 $ 23,967,125 *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 $ 1,775,295 $ 1,236,146, % 7

10 TREASURER'S INVESTMENT POOL ASSET DISTRIBUTION BY SECTOR (PAR VALUE) 3/31/2016 Treasuries, 23.5% Callable Securities, 15.3% Cash on Deposit at Bank, 9.9% CAMP, 3.9% LAIF - State Investment Pool, 5.1% Government Agency Notes, 42.3% 8

11 S&P CREDIT RATING AT TIME OF PURCHASE BY PERCENT OF BOOK VALUE 3/31/2016 AA (Long Term Rating) 55.8% CA Local Agency Investment Fund/ Cash on Deposit at Bank (Not Rated) 15.0% 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: A1, P1, F1 (by two of the three rating agencies) -- State of California - LAIF/Managed Investment Pools: N/A -- Negotiable CD's: A1, P1, F1 (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. AAA (Long Term Rating) 29.2% 9

12 TREASURER'S INVESTMENT POOL MATURITY DISTRIBUTION 3/31/ YEARS, 4.3% 4-5 YEARS, 0.8% 2-3 YEARS, 8.7% OVERNIGHT, 18.9% 1-2 YEARS, 21.3% 1-90 DAYS, 15.4% 91 DAYS - 1 YEAR, 30.6% 10

13 TREASURER'S INVESTMENT POOL AVERAGE DAILY CASH BALANCE & INCOME DISTRIBUTION FOR THE QUARTER ENDED 3/31/2016 Special Districts, 9% County, 39% Schools, 52% The average daily cash balance of all entities in the pool during the quarter was $1,236,146,883. Aggregate interest earnings of $1,775,295 was distributed to pool participants. 11

14 TREASURER'S INVESTMENT POOL QUARTERLY PERFORMANCE VERSUS SELECTED BENCHMARKS 3/31/ % 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 0.58% 0.50% 0.47% 0.21% LAIF Treasurer's Pool Federal Funds 3 mo T-Bill 12

15 County Pool Portfolio Management Investment Status Report - Investments March 31, 2016 Page 1 CUSIP Investment # Issuer Par Value Cash Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value SYS BAC 127,672, ,672, ,672, ,672, CAMP Cash Totals 127,672, ,672, ,672, ,672, SYS CAMP 50,000, ,000, ,000, ,000, Local Agency Investment Funds CAMP Totals 50,000, ,000, ,000, ,000, SYS LAIF Local Agency Investment Funds Totals Federal Agency Coupon Securities 3133EEDF4 3133EESZ4 3133EEC EFSH1 3133EE6A3 3133EFZN0 3133EFD R9 3130A0C A3UR3 3130A57C7 3130A57D5 3130A5AA7 3130A5K EC7 3130A6UX3 3130A5EP DD8 3130A62S5 3130A7CX1 3137EADS5 3134G4XW3 3137EADK FFCB FFCB FFCB FFCB FFCB FFCB FFCB FHLMC FHLMC FHLMC 1,500, ,000, ,000, ,000, ,000, ,000, ,000, /28/ /12/ /24/ /14/ /06/ /12/ /25/ /24/ /28/ /06/ /30/ /27/ /01/ /30/ /08/ /28/ /30/ /21/ /28/ /19/ /14/ /26/ /01/ /04/ /12/ /24/ /14/ /07/ /12/ /25/ /10/ /15/ /06/ /30/ /30/ /01/ /04/ /12/ /28/ /30/ /30/ /30/ /23/ /16/ /11/ /06/ , ,141 1, , , , , , ,217 1,502, ,002, ,005, ,018, ,998, ,003, ,997, ,999, ,004, ,011, ,994, ,003, ,002, ,000, ,997, ,018, ,996, ,037, ,004, ,008, ,012, ,004, ,040, Received Received Received 2, , Received Received Received Received 1,498, ,000, ,000, ,998, ,988, ,000, ,997, ,991, ,985, ,000, ,998, ,988, ,974, ,995, ,947, ,999, ,999, ,998, ,960, ,499, ,000, ,000, ,998, ,990, ,000, ,997, ,999, ,996, ,000, ,999, ,990, ,978, ,996, ,955, ,999, ,999, ,999, ,964, Portfolio SB99 AP Run : 04/20/ :08 PM (PRF_PMS) Report Ver

16 County Pool Portfolio Management Investment Status Report - Investments March 31, 2016 Page 2 CUSIP Investment # Issuer Par Value Federal Agency Coupon Securities Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value 3137EADK FHLMC /01/ /01/2015 1,339 1,217 5,040, Received 4,952, ,957, EADX FHLMC /15/ /14/ ,019, ,998, ,998, EADJ FHLMC 10,000, /28/ /30/ ,036, Received 9,992, ,993, EADM FHLMC /02/ /27/2016 1,344 1,279 5,021, , ,988, ,989, G0XP FNMA /05/ /17/2013 1, ,998, ,982, ,998, Federal Agency Coupon Securities Totals 198,500, ,780, , ,236, ,304, Federal Agency Disc. -Amortizing WU FCDN /13/ /02/ ,998, ,986, ,998, WK FCDN /04/ /30/ ,998, ,990, ,998, ZZ FCDN 10,000, /29/ /30/ ,988, ,966, ,986, A FCDN 10,000, /04/ /05/ ,986, ,973, ,989, J FCDN /03/ /05/ ,988, ,981, ,990, F FCDN /12/ /14/ ,990, ,984, ,992, ZX FCDN /27/ /19/ ,994, ,987, ,994, J FCDN /04/ /20/ ,988, ,982, ,990, E FCDN 7,000, /31/ /25/ ,988, ,972, ,985, R FCDN /01/ /02/ ,983, ,966, ,977, F FCDN /12/ /15/ ,990, ,973, ,984, N FCDN /08/ /14/ ,985, ,971, ,979, H FFCBDN /29/ /05/ ,989, ,982, ,990, ZW FFCBDN /26/ /23/ ,994, ,987, ,994, F FFCBDN /08/ /19/ ,990, ,980, ,986, G FFCBDN /20/ /19/ ,989, ,978, ,985, WD FHDN /28/ /28/ ,999, ,985, ,998, XP FHDN 10,000, /01/ /02/ ,994, ,970, ,995, YD FHDN /15/ /15/ ,996, ,981, ,996, YV FHDN 3,500, /01/ /23/ ,496, ,488, ,496, YV FHDN 10,000, /01/ /09/ ,990, ,970, ,990, WX FHDN /16/ /15/ ,998, ,987, ,997, M FHDN /01/ /02/ ,986, ,979, ,988, Q FHDN /21/ /30/ ,984, ,967, ,978, WM FHDN /06/ /08/ ,998, ,989, ,997, XE FHDN /23/ /10/ ,998, ,987, ,996, XF FHDN /24/ /11/ ,998, ,987, ,995, Portfolio SB99 AP Run : 04/20/ :08 PM (PRF_PMS) 7.2.5

17 County Pool Portfolio Management Investment Status Report - Investments March 31, 2016 Page 3 CUSIP Investment # Issuer Par Value Federal Agency Disc. -Amortizing Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value XH FHDN /26/ /11/ ,998, ,987, ,995, XQ FHDN /02/ /11/ ,997, ,986, ,995, T FHDN /14/ /16/ ,982, ,959, ,971, ZJ FHDN /14/ /06/ ,994, ,985, ,991, BH FHDN /01/ /02/ ,977, ,968, ,973, CM FHDN /01/ /01/ ,975, ,968, ,970, BB FHDN /26/ /02/ ,979, ,973, ,976, CT FHDN /07/ /07/ ,974, ,966, ,968, CV FHDN /09/ /14/ ,974, ,963, ,964, AD ,000, /04/ /07/ ,961, ,924, ,942, YC DN /14/ /15/ ,996, ,981, ,996, YE DN /16/ /19/ ,996, ,982, ,996, H DN /29/ /06/ ,989, ,978, ,989, ZY DN /28/ /06/ ,994, ,984, ,990, VW FMCDN /21/ /29/ ,999, ,987, ,999, WL FMCDN /05/ /05/ ,998, ,986, ,998, XA FMCDN 10,000, /19/ /22/ ,996, ,975, ,996, YU FMCDN /30/ /23/ ,996, ,985, ,996, E FMCDN /06/ /28/ ,990, ,984, ,993, E FMCDN /31/ /28/ ,991, ,985, ,993, B FMCDN /11/ /28/ ,992, ,987, ,994, ZS FMCDN /22/ /28/ ,994, ,988, ,995, WC FMCDN /27/ /11/ ,999, ,990, ,998, WE FMCDN /29/ /11/ ,999, ,990, ,998, ZH FMCDN /13/ /11/ ,994, ,983, ,991, AK FMCDN /10/ /21/ ,980, ,970, ,976, D FNDN /24/ /23/ ,991, ,979, ,988, XA FNMA /19/ /09/ ,998, ,988, ,997, ZV FNMA /25/ /14/ ,994, ,983, ,994, ZY FNMA /28/ /14/ ,994, ,983, ,993, D FNMA /25/ /17/ ,991, ,980, ,991, B FNMA /09/ /07/ ,992, ,988, ,995, ZJ FNMA /14/ /07/ ,994, ,990, ,996, C FNMA /22/ /23/ ,992, ,980, ,988, AL FNMA /11/ /02/ ,980, ,972, ,977, Portfolio SB99 AP Run : 04/20/ :08 PM (PRF_PMS) 7.2.5

18 County Pool Portfolio Management Investment Status Report - Investments March 31, 2016 Page 4 CUSIP Investment # Issuer Par Value Federal Agency Disc. -Amortizing Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value AM FNMA /12/ /02/ ,980, ,972, ,977, Federal Agency Disc. -Amortizing Totals 345,500, ,925, ,205, ,812, Treasury Coupon Securities UR USTR 2,500, /28/ /06/2014 1, ,500, Received 2,459, ,480, VC USTR /15/ /30/ ,999, Received 14,939, ,996, B USTR 10,000, /15/ /05/ ,001, Received 9,972, ,991, VG USTR /15/ /18/ ,002, Received 5,000, ,000, WQ USTR /30/ /07/ ,002, Received 4,999, ,999, WM USTR /31/ /07/ ,000, Received 4,990, ,999, SY USTR /31/ /07/ ,997, Received 4,974, ,988, TB USTR 10,000, /30/ /07/ ,009, Received 9,971, ,986, WM USTR 10,000, /31/ /25/ ,001, Received 10,012, ,001, WQ USTR 10,000, /30/ /25/ ,004, Received 10,025, ,003, TM USTR /31/ /02/2014 1, ,981, Received 14,909, ,953, TB USTR /30/ /02/ ,014, Received 14,985, ,993, SY USTR /31/ /02/ ,991, Received 14,954, ,978, TM USTR 10,000, /31/ /02/ ,987, Received 9,942, ,967, TB USTR 10,000, /30/ /02/ ,009, Received 9,990, ,994, WM USTR /31/ /11/ ,000, Received 4,998, ,999, VC USTR 10,000, /15/ /11/ ,999, Received 9,985, ,998, TG USTR /31/ /02/ ,987, Received 4,991, ,994, UR USTR /28/ /14/ ,001, Received 4,999, ,999, TS USTR /30/ /21/ ,993, Received 4,999, ,999, TG USTR /31/ /21/ ,987, Received 4,993, ,994, TC USTR /30/ /28/2015 1,341 1,185 5,013, Received 4,981, ,983, TR USTR /30/ /28/2015 1,433 1,277 5,004, Received 4,964, ,968, TH USTR /31/ /28/2015 1,372 1,216 4,988, Received 4,950, ,956, J USTR /28/ /29/ ,994, Received 4,997, ,998, L USTR /15/ /30/2015 1, ,023, Received 4,998, ,998, XK USTR /15/ /30/ ,009, Received 4,987, ,989, XA USTR /15/ /10/ ,023, Received 4,985, ,987, SD USTR /31/ /10/2015 1,178 1,035 5,055, Received 4,985, ,987, K USTR /30/ /20/ ,992, , ,980, ,985, VE USTR 10,000, /31/ /20/ ,046, Received 9,978, ,981, Portfolio SB99 AP Run : 04/20/ :08 PM (PRF_PMS) 7.2.5

19 County Pool Portfolio Management Investment Status Report - Investments March 31, 2016 Page 5 CUSIP Investment # Issuer Par Value Treasury Coupon Securities Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value XP USTR 10,000, /31/ /30/ ,991, Received 9,964, ,971, WH USTR /15/ /04/ ,011, , ,999, ,999, UJ USTR 10,000, /31/ /29/ ,025, Received 9,953, ,959, H USTR 10,000, /31/ /29/ ,992, Received 9,968, ,976, WP USTR 10,000, /15/ /30/ ,024, , ,989, ,990, WT USTR /15/ /30/ ,012, Received 4,991, ,992, D USTR /15/ /30/ ,021, Received 4,997, ,997, D USTR /15/ /30/ ,011, Received 4,989, ,991, H USTR /15/ /11/ ,012, Received 4,986, ,987, WF USTR /15/ /15/ ,003, , ,997, ,998, Treasury Coupon Securities Totals 302,500, ,734, , ,745, ,024, Federal Agency Coupon - Callables 3133EC6S FFCB 10,000, /12/ /12/2012 1, ,000, ,992, ,998, EDYQ FFCB 500, /20/ /14/ , Received 500, , EELR FFCB /27/ /27/ ,992, EFWX FFCB /28/ /28/2016 1,096 1,032 5,001, ,996, ,996, EFZX FFCB /17/ /17/2016 1,643 1,599 4,975, A6VB /29/ /29/ ,004, A6V /28/ /29/2015 1,095 1,001 5,018, A6XZ /06/ /06/2016 1,643 1,557 5,000, A6ZD /26/ /26/2016 1, ,018, G3K FHLMC /27/ /27/2012 1, ,003, G3Y FHLMC /28/ /28/2012 1, ,000, G3Z FHLMC /05/ /05/2012 1, ,000, ,997, ,999, G34Y FHLMC /14/ /09/2013 1, ,005, Received 4,998, ,999, G42G FHLMC /30/ /30/2013 1, ,992, G4S FHLMC /30/ /30/2013 1, ,005, G4R FHLMC 2,450, /30/ /30/2013 1, ,451, ,450, ,450, G4YA FHLMC 5,250, /26/ /26/ ,257, ,250, ,250, G6YM FHLMC /27/ /27/ ,001, G84L FHLMC /25/ /25/ ,000, G8EL FHLMC /29/ /29/2015 1,186 1,092 5,006, G8HF FHLMC /27/ /27/ ,003, G8HB FHLMC /27/ /27/2016 1,461 1,396 5,008, Portfolio SB99 AP Run : 04/20/ :08 PM (PRF_PMS) 7.2.5

20 County Pool Portfolio Management Investment Status Report - Investments March 31, 2016 Page 6 CUSIP Investment # Issuer Par Value Federal Agency Coupon - Callables Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value 3134G8J FHLMC /29/ /29/2016 1,096 1,033 5,002, G8JL FHLMC /29/ /29/ ,001, G8KC FHLMC /24/ /24/ ,003, G8L FHLMC /26/ /26/ ,000, G8RG FHLMC /28/ /28/2016 1,187 1,183 5,002, G8VN FHLMC 1,000, /29/ /31/2016 1,824 1,823 1,000, ,000, ,000, G8TV FHLMC 2,000, /29/ /31/2016 1,093 1,092 2,000, ,000, ,000, G0SH FNMA 10,000, /12/ /12/2012 1, ,000, ,000, ,000, G0TV FNMA /30/ /30/2013 1, ,000, ,998, ,999, G0UE FNMA /14/ /14/2013 1, ,016, ,993, ,997, G0K FNMA 9,550, /27/ /27/2013 1, ,545, ,546, ,548, G0UN FNMA /28/ /13/2014 1, ,002, Received 4,951, ,976, G2R FNMA 5,895, /29/ /23/2015 1, ,896, , ,852, ,856, G2WV FNMA /25/ /29/2016 1,092 1,029 5,004, G2X FNMA /22/ /22/2016 1,277 1,238 5,003, G2YY FNMA /26/ /26/2016 1,277 1,242 5,000, G0J FNMA /26/ /26/2016 1,096 1,061 4,997, Federal Agency Coupon - Callables Totals 196,645, , ,725, , ,526, ,573, Investment Totals 1,285,817, ,285,838, , ,283,387, ,284,386, Portfolio SB99 AP Run : 04/20/ :08 PM (PRF_PMS) 7.2.5

21 Treasurer's Investment Pool Purchases Report Sorted by Fund - Fund January 1, March 31, 2016 Santa Barbara County Sec. Original Purchase Principal Accrued Interest Rate at Ending CUSIP Investment # Fund Type Issuer Par Value Payment Periods Purchased at Purchase Purchase YTM Book Value Treasurer's Pooled Investments ZJ AFD FHDN 01/06/ /14 - At 4,985, /14/ ,991, A6XZ MC1 01/06/ /06 - Final Pmt /06/ ZY AFD DN 01/06/ /28 - At 4,984, /28/ ,990, EE6A FAC FFCB 01/07/ /06-08/06 4,988, Received /06/ ,990, AD AFD 10,000, /07/ /04 - At 9,924, /04/ ,942, H TRC USTR 01/11/ /15-07/15 4,986, Received /15/ ,987, N AFD FCDN 01/14/ /08 - At 4,971, /08/ ,979, WF TRC USTR 01/15/ /15-11/15 4,997, , /15/ ,998, F AFD FFCBDN 01/19/ /08 - At 4,980, /08/ ,986, G AFD FFCBDN 01/19/ /20 - At 4,978, /20/ ,985, AK AFD FMCDN 01/21/ /10 - At 4,970, /10/ ,976, A6ZD MC1 01/26/ /26-10/ /26/ EADM FAC FHLMC 01/27/ /02-10/02 4,988, , /02/ ,989, G8HF MC1 FHLMC 01/27/ /27-01/ /27/ G8HB MC1 FHLMC 01/27/ /27-01/ /27/ EFWX MC1 FFCB 01/28/ /28-01/28 4,996, /28/ ,996, G8J MC1 FHLMC 01/29/ /29-01/ /29/ G8JL MC1 FHLMC 01/29/ /29-01/ /29/ G2WV MC1 FNMA 01/29/ /25-01/ /25/ BH AFD FHDN 02/02/ /01 - At 4,968, /01/ ,973, AL AFD FNMA 02/02/ /11 - At 4,972, /11/ ,977, AM AFD FNMA 02/02/ /12 - At 4,972, /12/ ,977, EFZN FAC FFCB 4,000, /12/ /12-02/12 4,000, /12/ ,000, EFZX MC1 FFCB 02/17/ /17-02/ /17/ G2X MC1 FNMA 02/22/ /22-02/ /22/ A7CX FAC 02/23/ /19-09/19 4,999, Received /19/ ,999, G8KC MC1 FHLMC 02/24/ /24-02/ /24/ EFD FAC FFCB 02/25/ /25-12/25 4,997, /25/ ,997, G8L MC1 FHLMC 02/26/ /26-02/ /26/ G2YY MC1 FNMA 02/26/ /26-02/ /26/ G0J MC1 FNMA 02/26/ /26-02/ /26/ CM AFD FHDN 03/01/ /01 - At 4,968, /01/ ,970, Received = Accrued Interest at Purchase was received by report ending date. Portfolio SB99 Data Updated: SET_1: 04/20/ :28 AP Run : 04/20/ :28 PU (PRF_PU) Report Ver

22 Treasurer's Investment Pool Purchases Report January 1, March 31, 2016 Page 2 CUSIP Investment # Fund Sec. Type Issuer Original Par Value Purchase Payment Periods Principal Purchased Accrued Interest Rate at at Purchase Purchase YTM Ending Book Value Treasurer's Pooled Investments BB CT CV6 3134G8RG6 3134G8VN6 3134G8TV AFD AFD AFD MC1 MC1 MC1 FHDN FHDN FHDN FHLMC FHLMC FHLMC 1,000, ,000, /02/ /07/ /14/ /28/ /31/ /31/ /26 - At 03/07 - At 03/09 - At 09/28-03/28 09/29-03/29 09/29-03/29 4,973, ,966, ,963, ,000, ,000, /26/ /07/ /09/ /28/ /29/ /29/ ,976, ,968, ,964, ,000, ,000, Subtotal 187,000, ,533, , ,619, Total Purchases 187,000, ,533, , ,619, Portfolio SB99 Data Updated: SET_1: 04/20/ :28 AP Run : 04/20/ :28 PU (PRF_PU) Report Ver

23 Treasurer's Investment Pool Report Sorted by Received or due during January 1, March 31, 2016 Santa Barbara County Sec. Purchase Rate Book Value Net CUSIP Investment # Fund Type Issuer Par Value at at Interest Proceeds Income 3130A3PB FAC 1 01/04/ /08/ , ,017, , RJ AFD FNMA 10,000, /04/ /26/ ,000, ,000, RU AFD DN 2,500, /14/ /23/ ,500, ,500, UG TRC USTR 10,000, /15/ /06/ ,000, , ,018, , EEKU FAC FFCB 01/21/ /21/ , ,006, , SB AFD DN 10,000, /21/ /24/ ,000, ,000, SF AFD FHDN 7,500, /25/ /09/ ,500, ,500, SG AFD DN 10,000, /26/ /27/ ,000, ,000, SJ AFD FMCDN 01/28/ /04/ SK AFD FMCDN 01/29/ /04/ ECE FAC FFCB 10,000, /01/ /01/ ,000, , ,020, , SY AFD DN 2,500, /11/ /23/ ,500, ,500, A3GV FAC 02/25/ /10/ , ,007, , B TRC USTR 2,500, /29/ /06/ ,500, , ,503, , B TRC USTR 10,000, /29/ /20/ ,000, , ,012, , B TRC USTR 10,000, /29/ /25/ ,000, , ,012, , TZ AFD FHDN 03/07/ /09/ UC AFD FMCDN 03/10/ /29/ G0AL FAC FNMA 03/15/ /10/ , ,056, , US AFD FMCDN 03/24/ /29/ Total Maturities 140,000, ,000, , ,153, , Data Updated: SET_1: 04/20/ :28 Portfolio SB99 AP Run : 04/20/ :28 MA (PRF_MA) Report Ver

24 Treasurer's Investment Pool Sales/Call Report Sorted by - Fund January 1, March 31, 2016 Santa Barbara County Issuer Purchase Redem. Par Rate at Book Value Redemption Redemption Total CUSIP Investment # Fund Sec. Type Matur. Value Redem. at Redem. Principal Interest Amount Net Income 05/31/ SY USTR 04/29/ /11/ ,000, ,957, ,994, , ,007, , TRC 05/31/2017 Sale 01/29/2018 Subtotal 10,000, ,957, ,994, , ,007, , A0NR /29/ /29/2016 2,500, ,499, ,500, , ,517, , MC1 01/29/2018 Call 02/13/2018 Subtotal 2,500, ,499, ,500, , ,517, , ECFA FFCB 02/13/ /22/ , ,001, , MC1 02/13/2018 Call 10/15/2018 Subtotal 1, ,001, , L USTR 10/15/ /12/ ,993, ,016, , ,031, , TRC 10/15/2018 Sale 02/28/2019 Subtotal 4,993, ,016, , ,031, , SH USTR 11/10/ /22/ ,999, ,051, , ,055, , TRC 02/28/2019 Sale 05/31/2019 Subtotal 4,999, ,051, , ,055, , SX USTR 11/20/ /22/ ,966, ,005, , ,023, , TRC 05/31/2019 Sale 08/31/2019 Subtotal 4,966, ,005, , ,023, , TN USTR 12/01/ /22/ ,926, ,976, , ,979, , TRC 08/31/2019 Sale Subtotal 4,926, ,976, , ,979, , Total Sales 37,500, ,343, ,545, , ,615, , Data Updated: SET_1: 04/20/ :28 Portfolio SB99 AP Run : 04/20/ :28 SA (PRF_SA) Report Ver

25 Treasurer's Investment Pool Sales/Call Report January 1, March 31, 2016 Page 2 CUSIP Investment # Fund Issuer Sec. Type Purchase Redem. Matur. Par Value Rate at Redem. Book Value at Redem. Redemption Principal Redemption Interest Total Amount Net Income Data Updated: SET_1: 04/20/ :28 Portfolio SB99 AP Run : 04/20/ :28 SA (PRF_SA) Report Ver