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: Treasurer - Tax Collector Department No.: 065 For Agenda Of: 2/6/6 Placement: Administrative Estimated Tme: Continued Item: If Yes, date from: Vote Required: 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 Second Quarter (Oct - Dec 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 Second Quarter (October - December 205) report on the Treasurer s Investment Pool, pursuant to Government Code section 53646(b). B) Review and approve the Investment Policy Statement and authorize the County Treasurer to manage the investment pool in accordance with the policy, pursuant to section 53646(a) and of the Government Code. Summary Text: The value of the Treasurer s Investment Pool at principal cost on December 3, 205, was $,262,977,276. Market value of the investment pool was $,26,870,993. The weighted average days-to-maturity (WAM) for the investment pool was 329 days. The Treasurer s Investment Pool earned $697,834 for the quarter ending December 3, 205, an annualized return of 0.260%. The net yield earned over the past year is 0.372%. 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,

2 Page 2 of 3 and thirdly, the objective of attaining a market average rate of return, consistent with the primary objectives of safety and liquidity. For the quarter ending December 3, 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 The Treasurer s Investment Pool is managed by the County Treasurer s office on behalf of the County, local community colleges, local school districts, and other districts and agencies. Government Code Section provides that the County Treasurer may annually present to the Board of Supervisors a statement of investment policy for review and approval. The attached investment policy was last approved by the Board in February 205. There are no proposed changes at this time. The Treasury Oversight Committee reviewed the Treasurer s Investment Policy Statement at its quarterly meeting in January 206, and approved it. The policy meets or exceeds the requirements of laws and regulations governing the pool. Government Code section provides that a County Board of Supervisors may delegate the authority to invest and reinvest funds of the County to the County Treasurer for a one-year period. The government code further provides that this delegation may be made only to the Treasurer of the County. Additionally, pursuant to the government code, the transactions related to the investment and reinvestment of funds are included with this quarterly report and are filed monthly with the Clerk of the Board. 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 G:\TR\Investing\TOC QuarterlyMeetings\ \ TIPBoardAgendaLetter.doc!BoardLetter2006.dot v 06c

3 Page 3 of 3 Fiscal Analysis: For the quarter ending December 3, 205, net investment earnings achieved by the Treasurer s Investment Pool were $697,834, with the County receiving 42%, Schools 48%, and Special Districts the balance of 0%. The net yield earned for the quarter on an annualized basis is 0.260% and over the past year is 0.372%. Attachments:. Treasurer s Second Quarter Investment Pool Report (October December 205) 2. Treasurer s Investment Policy Statement Authored by: Jennifer C. Christensen, JD MBA CPFO CFIP, Investment and Debt Officer G:\TR\Investing\TOC QuarterlyMeetings\ \ TIPBoardAgendaLetter.doc!BoardLetter2006.dot v 06c

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

5 ECONOMIC TREND The Federal Open Market Committee (Committee) raised the target federal funds rate by 25 basis points to a range of 0.25% to 0.50% while reaffirming 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. As summarized in the Beige Book issued January 3, 206, reports from the twelve Federal Reserve Districts point to continued modest expansion in economic activity. 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

6 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.% and ended the quarter at 5.0%. California s preliminary unemployment rate was 5.7% in November. 3 Source: Bureau of Labor Statistics

7 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 0.7 at the end of December. The Core CPI, which excludes food and energy, was 2. at the end of December. 4 Source: Bureau of Labor Statistics

8 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 02.6 and ended at Source: Conference Board

9 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 September 205, the economy reported GDP at 2.0%. 6 Source: Bureau of Economic Analysis

10 Santa Barbara County Treasurer's Investment Pool Statement of Assets As of December 3, 205 Asset Description Cost Net Unrealized Holding Gains/(Losses) Fair Value* 2/3/205 Percent of Portfolio Yield to Weighted Average Days to Fair Value 9/30/205 Net Change Cash $ 66,363,456 $ - $ 66,363, $ 5,532,949 $ 50,830,507 California Asset Management Program (CAMP) 5,000,000-5,000, ,000,000 5,000,000 Local Agency Investment Fund (LAIF) 50,000,000-50,000, ,000,000 - U.S. Treasuries 354,02,988 (557,238) 353,455, ,205,725 53,250,025 Government Agency Bonds 24,546,300 (473,870) 24,072, ,622,890 44,449,540 Government Agency Discount Notes 337,024,466 49,39 337,73, ,25,745 37,958,040 Government Agency Bonds - able 26,030,066 (224,494) 25,805, ,89,607 (96,384,035) Total $,262,977,276 $ (,06,283) $,26,870, $ 966,766,96 $ 295,04,077 *Provided by Union Bank Treasurer's Pool Earnings Summary: Total Net Earnings on the Treasurer's Pool $ 697,834 Average Daily Balance on the Treasurer's Pool $,063,083,70 Net Interest Rate on the Treasurer's Pool 0.260% 7

11 TREASURER'S INVESTMENT POOL ASSET DISTRIBUTION BY SECTOR (PAR VALUE) 2/3/205 Treasuries, 28.0% able Securities, 0.0% CAMP,.2% Cash on Deposit at Bank, 3.2% LAIF - State Investment Pool, 4.0% Government Agency Notes, 43.6% Treasuries $ 355,000,000 Cash on Deposit at Bank $ 66,363,456 Government Agency Notes $ 552,500,000 LAIF - State Investment Pool $ 50,000,000 CAMP $ 5,000,000 able Securities $ 26,45,000 TOTAL $,265,008,456 8

12 S&P CREDIT RATING AT TIME OF PURCHASE BY PERCENT OF BOOK VALUE 2/3/205 AA (Long Term Rating) 55.4% CA Local Agency Investment Fund/ Cash on Deposit at Bank (Not Rated) 7.% 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. AAA (Long Term Rating) 27.5% 9

13 TREASURER'S INVESTMENT POOL MATURITY DISTRIBUTION 2/3/ YEARS, 4.4% 4-5 YEARS, 0.0% 2-3 YEARS, 9.% OVERNIGHT, 8.3% - 90 DAYS,.% - 2 YEARS, 23.% 9 DAYS - YEAR, 34.0% 0

14 TREASURER'S INVESTMENT POOL AVERAGE DAILY CASH BALANCE & INCOME DISTRIBUTION FOR THE QUARTER ENDED 2/3/205 Special Districts, 0% County, 42% Schools, 48% The average daily cash balance of all entities in the pool during the quarter was $,063,083,70. Aggregate interest earnings of $697,834 was distributed to pool participants.

15 TREASURER'S INVESTMENT POOL QUARTERLY PERFORMANCE VERSUS SELECTED BENCHMARKS 2/3/ % 6.00% 5.00% 4.00% 3.00% 2.00%.00% 0.00% 0.50% 0.38% 0.26% 0.6% LAIF Treasurer's Pool Federal Funds 3 mo T-Bill 2

16 County Pool Portfolio Management Investment Status Report - Investments December 3, 205 Page CUSIP Investment # Issuer Cash Par Value Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value SYS BAC 66,363, ,363, ,363, ,363, CAMP Cash Totals 66,363, ,363, ,363, ,363, SYS CAMP 5,000, ,000, ,000, ,000, Local Agency Investment Funds CAMP Totals 5,000, ,000, ,000, ,000, SYS LAIF 50,000, ,000, ,000, ,000, Local Agency Investment Funds Totals 50,000, ,000, ,000, Federal Agency Coupon Securities 50,000, ECE FFCB 0,000, /0/206 02/0/203, ,002, ,995, ,999, EEDF FFCB,500, /28/207 2/04/ ,494, Received,498,800.00,499, EEKU FFCB 5,000, /2/206 0/2/ ,000, ,000, ,000, EESZ FFCB 0,000, /2/206 03/2/ ,994, ,000, ,000, EEC FFCB 3,000, /24/206 04/24/ ,99, ,000, ,000, EFSH 5998 FFCB 5,000, /4/208 2/4/ ,978, ,998, ,998, R9 570 FHLB 5,000, /24/206 05/0/203,4 75 4,993, ,99, ,998, A0C FHLB 5,000, /28/206 /5/203, ,989, ,985, ,995, A3GV FHLB 5,000, /25/206 /0/ ,000, ,000, ,000, A3PB FHLB 5,000, /04/206 2/08/ ,000, ,996, ,999, A3UR FHLB 0,000, /06/207 0/06/ ,005, ,000, ,000, A57C FHLB 5,000, /30/207 04/30/ ,947, ,000, ,000, A57D FHLB 5,000, /27/207 04/30/ ,945, ,000, ,000, A5AA FHLB 5,000, /0/206 05/0/ ,980, ,000, ,000, A5K FHLB 5,000, /30/206 06/04/ ,999, ,998, ,999, EC FHLB 5,000, /08/207 /2/ ,968, , ,988, ,989, A6UX FHLB 5,000, /28/209 2/28/205,278,274 4,99, ,000, ,000, A5EP0 600 FHLB 5,000, /30/207 2/30/ ,976, , ,974, ,974, DD8 605 FHLB 0,000, /2/207 2/30/ ,994, , ,995, ,995, A62S5 606 FHLB 0,000, /28/207 2/30/ ,949, , ,947, ,947, EADS5 573 FHLMC 5,000, /4/206 08/6/203, ,003, ,999, ,999, G4XW3 584 FHLMC 5,000, /26/206 04// ,994, Received 4,998, ,999, EADK2 597 FHLMC 5,000, /0/209 /06/205,364,308 4,944, , ,960, ,96, Portfolio SB99 AP Run : 0/20/206-2:33 PM (PRF_PMS) Report Ver. 7.3.

17 County Pool Portfolio Management Investment Status Report - Investments December 3, 205 Page 2 CUSIP Investment # Issuer Federal Agency Coupon Securities Par Value Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value 337EADK FHLMC 5,000, /0/209 2/0/205,339,308 4,944, , ,952, ,953, EADX FHLMC 5,000, /5/207 2/4/ ,986, ,998, ,998, EADJ5 607 FHLMC 0,000, /28/207 2/30/ ,983, , ,992, ,992, G0AL7 553 FNMA 5,000, /5/206 02/0/202, ,07, Received 5,29, ,04, G0XP3 57 FNMA 5,000, /05/206 05/7/203, ,993, ,982, ,997,86.7 Federal Agency Coupon Securities Totals 24,500, ,072, , ,546, Federal Agency Disc. -Amortizing 24,35, WU FCDN 5,000, /3/206 06/02/ ,992, ,986, ,994, WK FCDN 5,000, /04/206 09/30/ ,992, ,990, ,994, ZZ FCDN 0,000, /29/206 09/30/ ,966, ,966, ,976, A FCDN 0,000, /04/206 0/05/ ,965, ,973, ,98, J FCDN 5,000, /03/206 0/05/ ,976, ,98, ,986, F FCDN 5,000, /2/206 0/4/ ,978, ,984, ,987, ZX 5959 FCDN 5,000, /27/206 0/9/ ,983, ,987, ,99, J FCDN 5,000, /04/206 0/20/ ,976, ,982, ,985, E FCDN 7,000, /3/206 /25/ ,972, ,972, ,976, R FCDN 5,000, /0/206 2/02/ ,970, ,966, ,968, F FCDN 5,000, /2/206 2/5/ ,978, ,973, ,975, H FFCBDN 5,000, /29/206 0/05/ ,977, ,982, ,986, ZW FFCBDN 5,000, /26/206 0/23/ ,983, ,987, ,990, WD7 595 FHDN 5,000, /28/206 04/28/ ,994, ,985, ,995, XP FHDN 0,000, /0/206 06/02/ ,980, ,970, ,987, YD FHDN 5,000, /5/206 06/5/ ,989, ,98, ,99, YV FHDN 3,500, /0/206 07/23/ ,489, ,488, ,493, YV FHDN 0,000, /0/206 09/09/ ,97, ,970, ,98, WX FHDN 5,000, /6/206 09/5/ ,992, ,987, ,992, M FHDN 5,000, /0/206 /02/ ,973, ,979, ,983, Q FHDN 5,000, /2/206 /30/ ,97, ,967, ,970, WM FHDN 5,000, /06/206 2/08/ ,992, ,989, ,990, SF FHDN 7,500, /25/206 2/09/ ,499, ,496, ,498, TZ FHDN 5,000, /07/206 2/09/ ,997, ,994, ,995, XE FHDN 5,000, /23/206 2/0/ ,99, ,987, ,989, XF 5993 FHDN 5,000, /24/206 2// ,99, ,987, ,989, XH FHDN 5,000, /26/206 2// ,99, ,987, ,988, Portfolio SB99 AP Run : 0/20/206-2:33 PM (PRF_PMS) 7.2.5

18 County Pool Portfolio Management Investment Status Report - Investments December 3, 205 Page 3 CUSIP Investment # Issuer Federal Agency Disc. -Amortizing Par Value Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value 33384XQ FHDN 5,000, /02/206 2// ,990, ,986, ,988, T FHDN 5,000, /4/206 2/6/ ,969, ,959, ,96, SY FHLBDN 2,500, //206 04/23/ ,499, ,495, ,499, RU FHLBDN 2,500, /4/206 04/23/ ,499, ,496, ,499, SB FHLBDN 0,000, /2/206 04/24/ ,999, ,985, ,998, SG5 593 FHLBDN 0,000, /26/206 04/27/ ,999, ,985, ,998, YC7 593 FHLBDN 5,000, /4/206 06/5/ ,989, ,98, ,99, YE FHLBDN 5,000, /6/206 06/9/ ,989, ,982, ,99, H FHLBDN 5,000, /29/206 0/06/ ,977, ,978, ,983, SJ FMCDN 5,000, /28/206 03/04/ ,999, ,989, ,999, SK FMCDN 5,000, /29/206 03/04/ ,999, ,989,886. 4,999, VW0 599 FMCDN 5,000, /2/206 04/29/ ,994, ,987, ,995, UC FMCDN 5,000, /0/206 04/29/ ,997, ,99,66. 4,998, US0 592 FMCDN 5,000, /24/206 04/29/ ,996, ,990, ,997, WL FMCDN 5,000, /05/206 05/05/ ,992, ,986, ,995, XA FMCDN 0,000, /9/206 06/22/ ,984, ,975, ,989, YU 5934 FMCDN 5,000, /30/206 07/23/ ,988, ,985, ,992, E FMCDN 5,000, /06/206 09/28/ ,979, ,984, ,989, E FMCDN 5,000, /3/206 09/28/ ,980, ,985, ,989, B FMCDN 5,000, //206 09/28/ ,98, ,987, ,99, ZS FMCDN 5,000, /22/206 09/28/ ,983, ,988, ,992, WC3 599 FMCDN 5,000, /27/206 2// ,994, ,990, ,99, WE FMCDN 5,000, /29/206 2// ,994, ,990, ,99, ZH FMCDN 5,000, /3/206 2// ,984, ,983, ,984, D FNDN 5,000, /24/206 2/23/ ,980, ,979, ,980, RJ FNMA 0,000, /04/206 02/26/ ,000, ,982, ,999, XA FNMA 5,000, /9/206 09/09/ ,992, ,988, ,993, ZV FNMA 5,000, /25/206 09/4/ ,983, ,983, ,989, ZY FNMA 5,000, /28/206 09/4/ ,983, ,983, ,989, D FNMA 5,000, /25/206 09/7/ ,980, ,980, ,986, B FNMA 5,000, /09/206 0/07/ ,982, ,988, ,99, ZJ FNMA 5,000, /4/206 0/07/ ,984, ,990, ,993, C FNMA 5,000, /22/206 2/23/ ,98, ,980, ,980, Federal Agency Disc. -Amortizing Totals 338,000, ,73, ,024, ,36, Portfolio SB99 AP Run : 0/20/206-2:33 PM (PRF_PMS) 7.2.5

19 County Pool Portfolio Management Investment Status Report - Investments December 3, 205 Page 4 CUSIP Investment # Issuer Treasury Coupon Securities Par Value Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value 92828B USTR 2,500, /29/206 03/06/ ,499, Received 2,496, ,499, UR USTR 2,500, /28/208 03/06/204, ,478, Received 2,459, ,478, B USTR 0,000, /29/206 03/20/ ,999, Received 9,98, ,998, B USTR 0,000, /29/206 04/25/ ,999, Received 9,980, ,998, SY7 589 USTR 0,000, /3/207 04/29/204, ,955, Received 9,899, ,953, VC 582 USTR 5,000, /5/206 04/30/ ,989, Received 4,939, ,988, B USTR 0,000, /5/207 06/05/ ,974, Received 9,972, ,988, VG USTR 5,000, /5/206 06/8/ ,999, Received 5,000, ,000, WQ USTR 5,000, /30/206 07/07/ ,998, Received 4,999, ,999, WM USTR 5,000, /3/206 07/07/ ,998, Received 4,990, ,997, UG USTR 0,000, /5/206 /06/ ,000, Received 0,09, ,000, SY7 585 USTR 5,000, /3/207 /07/ ,977, Received 4,974, ,986, TB USTR 0,000, /30/207 /07/ ,968, Received 9,97, ,983, WM USTR 0,000, /3/206 /25/ ,996,00.00 Received 0,02, ,003, WQ USTR 0,000, /30/206 /25/ ,997, Received 0,025, ,008, TM2 586 USTR 5,000, /3/207 2/02/204, ,903, Received 4,909, ,945, TB USTR 5,000, /30/207 2/02/ ,953, Received 4,985, ,99, SY USTR 5,000, /3/207 2/02/ ,933, Received 4,954, ,974, TM USTR 0,000, /3/207 03/02/ ,935, Received 9,942, ,96, TB USTR 0,000, /30/207 03/02/ ,968, Received 9,990, ,993, WM USTR 5,000, /3/206 03// ,998, Received 4,998, ,999, VC 5897 USTR 0,000, /5/206 03// ,993, Received 9,985, ,995, TG USTR 5,000, /3/207 0/02/ ,962, , ,99, ,993, UR USTR 5,000, /28/208 0/4/ ,957, , ,999, ,999, L USTR 5,000, /5/208 0/5/205,096,08 4,944, ,992, ,993, TS9 596 USTR 5,000, /30/207 0/2/ ,965,450.00, ,999, ,999, TG USTR 5,000, /3/207 0/2/ ,962, , ,993, ,993, TC USTR 5,000, /30/209 0/28/205,34,276 4,97, Received 4,98, ,982, TR 5965 USTR 5,000, /30/209 0/28/205,433,368 4,894, , ,964, ,966, TH USTR 5,000, /3/209 0/28/205,372,307 4,887, , ,950, ,953, J USTR 5,000, /28/207 0/29/ ,979, , ,997, ,997, L USTR 5,000, /5/208 0/30/205, ,964, ,8.32 4,998, ,998, XK 5969 USTR 5,000, /5/208 0/30/ ,954, , ,987, ,988, XA USTR 5,000, /5/208 /0/ ,975, Received 4,985, ,985, SD USTR 5,000, /3/209 /0/205,78,26 4,983, , ,985, ,986, Portfolio SB99 AP Run : 0/20/206-2:33 PM (PRF_PMS) 7.2.5

20 County Pool Portfolio Management Investment Status Report - Investments December 3, 205 Page 5 CUSIP Investment # Issuer Treasury Coupon Securities Par Value Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value 92828SH USTR 5,000, /28/209 /0/205,206,54 4,996, , ,999, ,999, SX USTR 5,000, /3/209 /20/205,288,246 4,944,50.00 Received 4,962, ,963, K USTR 5,000, /30/207 /20/ ,973,850.00, ,980, ,982, VE USTR 0,000, /3/208 /20/ ,948, Received 9,978, ,979, XP USTR 0,000, /3/207 /30/ ,944, ,720. 9,964, ,965, TN USTR 5,000, /3/209 2/0/205,369,338 4,90, , ,920, ,922, WH USTR 5,000, /5/207 2/04/ ,996, , ,999, ,999, UJ USTR 0,000, /3/208 2/29/ ,950, , ,953, ,954, H USTR 0,000, /3/207 2/29/ ,963, , ,968, ,968, WP 60 USTR 0,000, /5/207 2/30/ ,989, , ,989, ,989, WT3 602 USTR 5,000, /5/207 2/30/ ,99, , ,99, ,99, D USTR 5,000, /5/207 2/30/ ,997, , ,997, ,997, D USTR 5,000, /5/207 2/30/ ,988, , ,989, ,989, Treasury Coupon Securities Totals 355,000, ,455, ,.5 354,02, Federal Agency Coupon - ables 354,288, EC6S FFCB 0,000, /2/206 2/2/202, ,992, ,992, ,998, ECFA FFCB 5,000, /3/208 02/3/203, ,975, ,000, ,000, EDYQ FFCB 500, /20/207 /4/ ,60.00 Received 500, , EELR FFCB 5,000, /27/207 0/27/ ,983, ,000, ,000, A0NR FHLB 2,500, /29/208 0/29/204, ,500, ,499, ,499, A6VB FHLB 5,000, /29/208 2/29/ ,997, ,000, ,000, A6V FHLB 5,000, /28/208 2/29/205,095,092 4,994, ,000, ,000, G3K FHLMC 5,000, /27/207 09/27/202, ,990, ,000, ,000, G3Y FHLMC 5,000, /28/207 /28/202, ,97, ,000, ,000, G3Z FHLMC 5,000, /05/206 2/05/202, ,984, ,997, ,999, G34Y3 570 FHLMC 5,000, /4/208 04/09/203, ,003, Received 4,998, ,999, G42G FHLMC 5,000, /30/208 04/30/203, ,970, ,000, ,000, G4S FHLMC 5,000, /30/206 2/30/203, ,022, ,000, ,000, G4R FHLMC 2,450, /30/206 2/30/203, ,446, ,450, ,450, G4YA0 58 FHLMC 5,250, /26/206 03/26/ ,248,0.00 5,250, ,250, G6YM9 592 FHLMC 5,000, /27/207 04/27/ ,00, ,000, ,000, G84L FHLMC 5,000, /25/208 /25/ ,965, ,000, ,000, G8EL FHLMC 5,000, /29/209 2/29/205,86,83 4,99, ,000, ,000, G0SH FNMA 0,000, /2/207 2/2/202, ,00, ,000, ,000, Portfolio SB99 AP Run : 0/20/206-2:33 PM (PRF_PMS) 7.2.5

21 County Pool Portfolio Management Investment Status Report - Investments December 3, 205 Page 6 CUSIP Investment # Issuer Federal Agency Coupon - ables Par Value Stated Rate Purchase Term Days to Market Value Accrued Interest At Purchase Current Principal Book Value 335G0TV FNMA 5,000, /30/208 0/30/203, ,976, ,998, ,999, G0UE 5685 FNMA 5,000, /4/208 02/4/203, ,974, ,993, ,997, G0K FNMA 9,550, /27/208 03/27/203, ,472, ,546, ,548, G0UN 5798 FNMA 5,000, /28/208 02/3/204, ,986, Received 4,95, ,973, G2R FNMA 5,895, /29/208 2/23/205,04,032 5,845, , ,852, ,852, Federal Agency Coupon - ables Totals 26,45,000.00, ,805, , ,030, ,068, Investment Totals,265,008, ,26,870, ,743.37,262,977,276.26,263,398,06.2 Portfolio SB99 AP Run : 0/20/206-2:33 PM (PRF_PMS) 7.2.5

22 Treasurer's Investment Pool Purchases Report Sorted by Fund - Fund October, December 3, 205 Santa Barbara County CUSIP Investment # Fund Sec. Type Issuer Treasurer's Pooled Investments 92828TG A AFD FCDN 3332J AFD FCDN 3332H AFD FFCBDN 33384H AFD FHLBDN 33588B AFD FNMA 33588ZJ AFD FNMA 3332F AFD FCDN 92828UR L ZX 5959 AFD FCDN 3332J AFD FCDN 92828TS TG ZW AFD FFCBDN 92828TC TR TH J L XK M AFD FHDN 337EADK2 597 FAC FHLMC 92828XA SD SH EC FAC FHLB 92828SX K VE E AFD FCDN 334G84L MC FHLMC Original Par Value Purchase Payment Periods Principal Purchased Accrued Interest Rate at at Purchase Purchase YTM Ending Book Value 5,000, /02/205 0/3-07/3 4,99, , /3/ ,993, ,000, /05/205 08/04 - At 9,973, /04/ ,98, ,000, /05/205 0/03 - At 4,98, /03/ ,986, ,000, /05/205 09/29 - At 4,982, /29/ ,986, ,000, /06/205 09/29 - At 4,978, /29/ ,983, ,000, /07/205 08/09 - At 4,988, /09/ ,99, ,000, /07/205 07/4 - At 4,990, /4/ ,993, ,000, /4/205 09/2 - At 4,984, /2/ ,987, ,000, /4/205 02/29-08/3 4,999, , /28/ ,999, ,000, /5/205 04/5-0/5 4,992, /5/ ,993, ,000, /9/205 07/27 - At 4,987, /27/ ,99, ,000, /20/205 0/04 - At 4,982, /04/ ,985, ,000, /2/205 03/3-09/30 4,999,609.38, /30/ ,999, ,000, /2/205 0/3-07/3 4,993, , /3/ ,993, ,000, /23/205 07/26 - At 4,987, /26/ ,990, ,000, /28/205 2/3-06/30 4,98, Received /30/ ,982, ,000, /28/205 03/3-09/30 4,964, , /30/ ,966, ,000, /28/205 0/3-07/3 4,950, , /3/ ,953,3.04 5,000, /29/205 02/29-08/3 4,997, , /28/ ,997, ,000, /30/205 03/5-09/5 4,998, , /5/ ,998,53.6 5,000, /30/205 0/5-07/5 4,987, , /5/ ,988, ,000, /02/205 /0 - At 4,979, /0/ ,983, ,000, /06/205 02/0-08/0 4,960, , /0/ ,96, ,000, /0/205 /5-05/5 4,985,56.25 Received /5/ ,985, ,000, /0/205 0/3-07/3 4,985, , /3/ ,986, ,000, /0/205 02/29-08/3 4,999, , /28/ ,999, ,000, /2/205 03/08-09/08 4,988, , /08/ ,989, ,000, /20/205 /30-05/3 4,962, Received.25 05/3/ ,963, ,000, /20/205 04/30-0/3 4,980,859.38, /30/ ,982, ,000, /20/205 /30-05/3 9,978,25.00 Received /3/ ,979, ,000, /25/205 08/3 - At 6,972, /3/ ,976, ,000, /25/205 05/25 - /25 5,000, /25/ ,000, Received = Accrued Interest at Purchase was received by report ending date. Data Updated: SET_: 0/20/206 2:24 Portfolio SB99 AP Run : 0/20/206-2:24 PU (PRF_PU) 7.. Report Ver. 7.3.

23 Treasurer's Investment Pool Purchases Report October, December 3, 205 Page 2 CUSIP Investment # Fund Sec. Type Issuer Treasurer's Pooled Investments 33384Q AFD FHDN 92828XP EADK FAC FHLMC 92828TN R AFD FCDN 92828WH WM AFD FHDN 33384SF AFD FHDN 33384TZ AFD FHDN 33384XE AFD FHDN 33384XF 5993 AFD FHDN 33384XH AFD FHDN 33384XQ AFD FHDN 33396WC3 599 AFD FMCDN 33396WE AFD FMCDN 33396ZH AFD FMCDN 333EFSH 5998 FAC FFCB 337EADX FAC FHLMC 3332F AFD FCDN 33384T AFD FHDN 33588D AFD FNDN 336G2R MC FNMA 33588C AFD FNMA 330A6UX FAC FHLB 330A6VB MC FHLB 330A6V MC FHLB 334G8EL MC FHLMC 92828UJ H A5EP0 600 FAC FHLB 33379DD8 605 FAC FHLB 330A62S5 606 FAC FHLB 337EADJ5 607 FAC FHLMC 92828WP WT D Original Par Value Purchase Payment Periods Principal Purchased Accrued Interest Rate at at Purchase Purchase YTM Ending Book Value 5,000, /30/205 /2 - At 4,967, /2/ ,970, ,000, /30/205 0/3-07/3 9,964, , /3/ ,965, ,000, /0/205 02/0-08/0 4,952, , /0/ ,953, ,000, /0/205 02/29-08/3 4,920, , /3/ ,922,6.96 5,000, /02/205 2/0 - At 4,966, /0/ ,968, ,000, /04/205 05/5 - /5 4,999, , /5/ ,999, ,000, /08/205 05/06 - At 4,989, /06/ ,990, ,500, /09/205 0/25 - At 7,496, /25/ ,498, ,000, /09/205 03/07 - At 4,994, /07/ ,995, ,000, /0/205 05/23 - At 4,987, /23/ ,989, ,000, //205 05/24 - At 4,987, /24/ ,989, ,000, //205 05/26 - At 4,987, /26/ ,988, ,000, //205 06/02 - At 4,986, /02/ ,988, ,000, //205 04/27 - At 4,990, /27/ ,99, ,000, //205 04/29 - At 4,990, /29/ ,99, ,000, //205 07/3 - At 4,983, /3/ ,984,9. 5,000, /4/205 06/4-2/4 4,998, /4/ ,998, ,000, /4/205 06/5-2/5 4,998, /5/ ,998, ,000, /5/205 09/2 - At 4,973, /2/ ,975, ,000, /6/205 2/4 - At 4,959, /4/ ,96, ,000, /23/205 08/24 - At 4,979, /24/ ,980,66. 5,895, /23/205 04/29-0/29 5,852, , /29/ ,852, ,000, /23/205 08/22 - At 4,980, /22/ ,980, ,000, /28/205 06/28-2/28 5,000, /28/ ,000, ,000, /29/205 06/29-2/29 5,000, /29/ ,000, ,000, /29/205 06/28-2/28 5,000, /28/ ,000, ,000, /29/205 03/29-09/29 5,000, /29/ ,000, ,000, /29/205 0/3-07/3 9,953, , /3/ ,954, ,000, /29/205 0/3-07/3 9,968, , /3/ ,968, ,000, /30/205 05/30 - /30 4,974, , /30/ ,974, ,000, /30/205 06/2-2/2 9,995, , /2/ ,995, ,000, /30/205 02/28-08/28 9,947, , /28/ ,947, ,000, /30/205 0/28-07/28 9,992, , /28/ ,992, ,000, /30/205 06/5-2/5 9,989, , /5/ ,989, ,000, /30/205 0/5-07/5 4,99, , /5/ ,99, ,000, /30/205 03/5-09/5 4,997, , /5/ ,997, Data Updated: SET_: 0/20/206 2:24 Portfolio SB99 AP Run : 0/20/206-2:24 PU (PRF_PU) 7.. Report Ver. 7.3.

24 Treasurer's Investment Pool Purchases Report October, December 3, 205 Page 3 CUSIP Investment # Fund Sec. Type Issuer Treasurer's Pooled Investments 92828D Original Par Value Purchase Payment Periods Principal Purchased Accrued Interest Rate at at Purchase Purchase YTM Ending Book Value 5,000, /30/205 02/5-08/5 4,989, , /5/ ,989, Subtotal 395,395, ,92, , ,289,32.62 Total Purchases 395,395, ,92, , ,289,32.62 Data Updated: SET_: 0/20/206 2:24 Portfolio SB99 AP Run : 0/20/206-2:24 PU (PRF_PU) 7.. Report Ver. 7.3.

25 Treasurer's Investment Pool Report Sorted by Received or due during October, December 3, 205 Santa Barbara County Sec. CUSIP Investment # Fund Type Issuer 330A4SQ NG NQ NW L96 335G0SB Par Value Purchase Rate at Book Value at Interest Proceeds FAC FHLB 5,000, /02/205 04/02/ ,000, , ,003, , AFD FHDN 5,000, /22/205 04/28/ ,000, ,000, AFD FHDN 5,000, /30/205 04/24/ ,000, ,000, AFD FHDN,000, /05/205 04/28/ ,000, ,000, FAC FHLB 5,000, /20/205 08/23/ ,000, , ,02, , FAC FNMA 0,000, /2/205 /6/ ,000, , ,08, , Total Maturities 3,000, ,000, , ,035, , Net Income Data Updated: SET_: 0/20/206 2:24 Portfolio SB99 AP Run : 0/20/206-2:24 MA (PRF_MA) 7.. Report Ver. 7.3.

26 Treasurer's Investment Pool Sales/ Report Sorted by - Fund October, December 3, 205 Santa Barbara County CUSIP Investment # 08/26/206 Fund Issuer Purchase Redem. Sec. Type Matur. Par Value Rate at Redem. Book Value at Redem. Redemption Principal Redemption Interest Total Amount Net Income 333EC3F FFCB /26/202 0/22/205 5,000, ,997, ,000, , ,004, , MC 08/26/206 0/7/206 Subtotal 5,000, ,997, ,000, , ,004, , EDJU7 585 FFCB 04/7/204 0/09/205 2,500, ,500, ,500, , ,508, , MC 0/7/206 0/24/206 Subtotal 2,500, ,500, ,500, , ,508, , EA5V FFCB 0/24/202 0/09/205 5,000, ,000, ,000, , ,04, , MC 0/24/ EA5V6 562 FFCB 0/24/202 0/09/205 5,000, ,998, ,000, , ,04, ,6.45 MC 0/24/206 /29/206 Subtotal 0,000, ,998, ,000, , ,028, , EC5B FFCB /29/202 0/26/205 5,000, ,998, ,000, , ,03, , MC /29/206 04/03/207 Subtotal 5,000, ,998, ,000, , ,03, , ECKL FFCB 04/03/203 0/2/205 5,000, ,000, ,000,000.00, ,00,950.00, MC 04/03/207 04/28/207 Subtotal 5,000, ,000, ,000,000.00, ,00,950.00, A4VL3 594 FHLB 04/28/205 0/28/205 5,000, V 5,000, ,000, , ,00, , MC 04/28/207 09/8/207 Subtotal 5,000, ,000, ,000, , ,00, , MF 5606 FHLB 09/8/202 0/02/205,79, ,79,906.96,79, ,80, MC 09/8/ MF 5606 FHLB 09/8/202 0/4/205 5,900, ,899, ,900, ,26. 5,904, ,76.07 MC 09/8/207 V - Security with variable rate change. Data Updated: SET_: 0/20/206 2:24 Portfolio SB99 AP Run : 0/20/206-2:24 SA (PRF_SA) 7.. Report Ver. 7.3.

27 Treasurer's Investment Pool Sales/ Report October, December 3, 205 Page 2 CUSIP Investment # Fund Issuer Purchase Redem. Sec. Type Matur. Par Value Rate at Redem. Book Value at Redem. Redemption Principal Redemption Interest Total Amount Net Income /08/207 Subtotal 7,080, ,079, ,080, , ,084, , G0QW FNMA /08/202 /08/205 5,000, ,000, ,000, , ,025, , MC /08/207 /09/207 Subtotal 5,000, ,000, ,000, , ,025, , R4 566 FHLB 2/9/202 0/09/205 0,000, ,998, ,000, , ,04, , MC /09/207 2/8/207 Subtotal 0,000, ,998, ,000, , ,04, , A0F FHLB 2/8/203 2/8/205 5,000, ,000, ,000, , ,03, , MC 2/8/207 0//208 Subtotal 5,000, ,000, ,000, , ,03, , G33B FHLMC 0//203 0//205 5,000, ,998, ,000, , ,02, , MC 0//208 0/6/208 Subtotal 5,000, ,998, ,000, , ,02, , G33M0 567 FHLMC 0/6/203 0/6/205 0,000, ,000, ,000, , ,026, , MC 0/6/208 04/04/208 Subtotal 0,000, ,000, ,000, , ,026, , GHU FNMA 04/04/203 0/04/205 5,000, ,000, ,000, , ,030, , MC 04/04/208 04/7/208 Subtotal 5,000, ,000, ,000, , ,030, , G37C FHLMC 04/7/203 0/7/205 7,275, ,275, ,275, , ,35, ,02.50 MC 04/7/208 04/20/208 Subtotal 7,275, ,275, ,275, , ,35, , G6TQ FHLMC 04/20/205 0/20/205 5,000, ,000, ,000, , ,03, , MC 04/20/208 Subtotal 5,000, ,000, ,000, , ,03, , Data Updated: SET_: 0/20/206 2:24 Portfolio SB99 AP Run : 0/20/206-2:24 SA (PRF_SA) 7.. Report Ver. 7.3.

28 Treasurer's Investment Pool Sales/ Report October, December 3, 205 Page 3 CUSIP Investment # 05/24/208 Fund Issuer Purchase Redem. Sec. Type Matur. Par Value Rate at Redem. Book Value at Redem. Redemption Principal Redemption Interest Total Amount Net Income L0 573 FHLB 05/28/203 0/24/205 5,000, ,000, ,000, , ,025, , MC 05/24/208 06/04/208 Subtotal 5,000, ,000, ,000, , ,025, , ECQW7 574 FFCB 06/04/203 0/3/205 5,000, ,995, ,000, , ,022, , MC 06/04/208 0/30/209 Subtotal 5,000, ,995, ,000, , ,022, , G2CY 5882 FNMA 0/30/205 0/30/205 5,000, V 5,000, ,000, , ,02, , MC 0/30/209 /2/209 Subtotal 5,000, ,000, ,000, , ,02, , A4JT FHLB 03/2/205 /2/205 0,000, V 0,000, ,000, , ,033, , MC /2/209 02/27/2020 Subtotal 0,000, ,000, ,000, , ,033, , G0C FNMA 02/27/205 /27/205 5,000, ,000, ,000, , ,025, , MC 02/27/2020 Subtotal 5,000, ,000, ,000, , ,025, , Total Sales 2,855, ,84, ,855, , ,28, , V - Security with variable rate change. Data Updated: SET_: 0/20/206 2:24 Portfolio SB99 AP Run : 0/20/206-2:24 SA (PRF_SA) 7.. Report Ver. 7.3.