HomeMy WebLinkAbout5B 2018 3rd Q Investment Report
4646 Dakota Street SE
Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: NOVEMBER 5, 2018
AGENDA #: 5B
PREPARED BY: JASON ETTER, ACCOUNTING MANAGER
PRESENTED BY: CATHY ERICKSON, FINANCE DIRECTOR
AGENDA ITEM: CONSIDER APPROVAL OF 3RD QUARTER 2018 INVESTMENT REPORT
GOAL AREA
AND OBJEC-
TIVE:
High-Value City Services
1. Establish financial stability for all funds.
DISCUSSION: Introduction
The purpose of this agenda item is for the Council to consider approval of the in-
vestment report for the third quarter of 2018.
Current Circumstances
Staff has prepared a list of investments as of September 30, 2018. The Investment
Report Summary Narrative provides some supplementary information with respect
to the investments currently held and the allowable forms of investments permitted
by Minnesota Statute.
The investment software provides the ability to generate reports and charts by bro-
ker, security type, maturities, etc. The software also enables staff to track interest
earned on an accrual basis versus a cash basis as well as changes in market
value.
Conclusion
The City Council should approve the quarterly investment report.
ALTERNATIVES: 1. Motion and second as part of the consent agenda to approve the 2018 3rd
Quarter Investment Report as submitted.
2. Motion and second to remove the Investment Report from the consent agenda
for additional discussion.
RECOMMENDED
MOTION:
Alternative 1.
2
INVESTMENT REPORT SUMMARY NARRATIVE
The attached “Investment Portfolio – by Security Type” identifies the various types of investments and
the brokers/banks the City of Prior Lake uses for investment purposes.
As of September 30, 2018, the balance of the investment portfolio is $38,585,149. This is an increase
of $8.5M from June 30, 2018. $4.2M is proceeds from the 2017 and 2018 bond issues.
The ‘weighted average yield to maturity at cost’ of the investment portfolio is currently 2.12% which is
an increase from 1.96% as of June 30. The yield will fluctuate due in part to the balances that are in
the short-term money market accounts and the very low rate that is paid on money market funds. At
the end of September, the balance in the 4M money market was $12.6M. $4.2M of the 4M money
market is proceeds from the 2017 and 2018 bond issues. Bond proceeds are spent down as the
bonded projects progress. Street projects are started in one year and the final wear-course is typi-
cally completed the following year.
There has been a slow rise in interest rates. However, it continues to be challenging to find competi-
tive rates for short-term investments---30 to 120-day maturities. These short-term securities are nec-
essary to meet cash flow needs for payments to vendors (including construction contracts) and pay-
roll. The following table shows the treasury rates for the 3rd quarter of 2018 compared to the previous
two years:
As rates decrease, the market value of the existing securities will increase. As of September 30, 2018,
the market value of the portfolio is less than the cost of the investments by $421K. The change in the
fair value of the securities is adjusted against interest earnings in each of the funds. This is a paper
loss for the third quarter of 2018; no actual gain is realized because the City holds the securities until
maturity.
3
During the third quarter of 2018, the chart below shows how rates, especially mid to long-term securi-
ties, have remained flat. Current long-term rates being offered by financial institutions continues to be
very low.
As the attached chart titled Investment Portfolio – Diversification, by Maturity Range indicates, approx-
imately 35% or $13.5 million matures within 1 month. Of that total, $12.6 million is in the 4M invest-
ment pool which is currently generating the highest money market interest rates. $4.2M of the 4M in-
vestment pool is proceeds from the 2017 and 2018 bond issues. These funds will be invested as the
appropriate security (type, rate, and maturity) becomes available. Staff continues to look for opportu-
nities to invest our short-term funds. Revision to the City’s investment policy is currently being re-
viewed for possible updates.
The City’s investment portfolio amount is a pool of funds identified on the monthly Treasurer’s Report.
As shown on the September Treasurer’s Report, the balance of cash and investments, is $39M. Of
this balance, $38.6M is investments and $400K is cash. Because City funds are pooled for investment
purposes, interest is allocated to each fund monthly, and is based upon each individual fund’s propor-
tionate share of the total amount. Overall, the total investment pool does not represent excess re-
serves but rather available financial resources. In most instances, these funds were established and
restricted for specific and designated purposes by either Minnesota Statutes or City Code to accom-
plish the goals and objectives of the City. The constraints for each of the funds are noted on the
Treasurer’s Report.
4
Investments for local governments are restricted to only those permitted by Minnesota Statutes. Per
the City of Prior Lake Investment Policy, the City has chosen to limit its allowable investments as fol-
lows:
1. Bonds, notes certificates of indebtedness, treasury bills or other securities
now or hereafter issued by the United States of America, its agencies and al-
lowable instrumentalities;
2. Interest bearing checking and savings accounts, or any other investments
constituting direct obligations of any bank;
3. Certificates of deposit at state and federally chartered institutions that are lim-
ited to the amount of coverage provided by the Federal Deposit Insurance
Corporation;
4. Money market accounts that are invested in above referenced government se-
curities;
5. State and local securities which have at the time of investment one of the
three highest credit ratings by a nationally recognized rating agency;
6. Investments may be made only in those savings banks or savings and loan
associations the shares, or investment certificates of which are insured by the
Federal Deposit Insurance Corporation;
7. Investment products that are considered as derivatives are specifically ex-
cluded from approved investments.
The breakdown of all security types held by the City is shown graphically in the attached document
titled Investment Portfolio – Diversification, by Security Type.
The investment policy also requires that all investment maturities shall not extend beyond ten (10)
years with no more than 20% maturing beyond five (5) years.
Change
from one
9/30/2017 12/31/2017 3/31/2018 6/30/2018 9/30/2018 year prior
Market Value 10,905,708 7,290,033 4,285,583 8,832,074 13,268,206 2,362,498
1 1 1 1 1 0
0.67%0.93%1.00%1.41%1.75%1.08%
Fixed Income Assets
19,131,043 23,156,766 24,503,598 23,651,598 25,316,943 6,185,900
19,156,982 23,040,955 24,242,681 23,294,942 24,895,694 5,738,712
857 919 922 863 920 63
475 606 651 605 678 203
1.96%2.01%2.13%2.16%2.31%0.36%
Total Portfolio Value
30,036,751 30,446,799 28,789,181 32,483,672 38,585,149 8,548,398
30,062,690 30,330,988 28,528,264 32,127,016 38,163,900 8,101,210
67,330 125,748 102,208 112,312 105,654 38,324
25,938 (115,811)(260,917)(356,657)(421,249) (447,187)
545 699 785 628 604 59
303 461 554 440 445 142
1.49%1.75%1.96%1.96%2.12%0.63%
BENCHMARK
90 Day T-Bill 1.06%1.39%1.73%1.93%2.19%1.13%
1.20%1.53%1.93%2.11%2.36%1.16%
1.31%1.76%2.09%2.33%2.59%1.28%
Weighted Average Yield to
Maturity @ Cost
CITY OF PRIOR LAKE, MINNESOTA
Quarterly Investment Report
September 30, 2018
Local Government
Investment Pools /
Money Market
Quarterly
WAM (1) in Days
Weighted Average Yield to
Maturity
Cost Value
Market Value
WAM (1) in Days
WAM / Callable (1) in Days
Weighted Average Yield
to Maturity @ Cost
6 Month Treasury
1 Year Treasury
Cost Value
Market Value
Accrued Interest
Unrealized Gain / Loss
WAM (1) in Days
WAM / Callable (1) in Days
City of Prior Lake - Quarterly Investment Report
YTM @
Cost Cost Value
Days to
Maturity
% of
Portfolio
Cash - 669,577 1 1.74%
Certificate of Deposit 2.254 12,359,000 948 32.03%
FHLB Bond 1.997 1,000,000 1,037 2.59%
FHLMC Bond 2.075 3,715,000 938 9.63%
FNMA Bond 1.824 1,900,000 1,037 4.92%
LGIP 1.838 12,598,629 1 32.65%
Municipal Bond 2.763 6,342,943 799 16.44%
Total / Average 2.118 38,585,149 604 100.00%
CITY OF PRIOR LAKE, MINNESOTA
Investment Portfolio - Diversification, by Security Type
September 30, 2018
Description
City of Prior Lake - Quarterly Investment Report
YTM @
Cost Cost Value
Days to
Maturity
% of
Portfolio
0-1 Month 1.741 13,513,206 2 35.03%
1-3 Months 2.067 739,328 69 1.92%
3-6 Months 3.887 1,360,000 133 3.52%
6-9 Months 1.617 738,000 216 1.91%
9-12 Months 1.704 1,489,707 328 3.86%
1-2 Years 2.244 3,873,013 562 10.04%
2-3 Years 2.045 9,131,848 924 23.68%
3-4 Years 2.485 4,109,702 1,336 10.65%
4-5 Years 2.715 3,145,000 1,678 8.15%
5-10 Years 3.140 485,345 2,069 1.26%
Total / Average 2.118 38,585,149 604 100.00%
CITY OF PRIOR LAKE, MINNESOTA
Investment Portfolio - Diversification, by Maturity Range
September 30, 2018
Description
City of Prior Lake - Quarterly Investment Report
DescriptionCUSIP/Ticker Settlement Date YTM @ Cost Face Amount/Shares Cost Value Book Value Market Value Maturity Date Days To Maturity Accrued Interest % of PortfolioCash - Northland Securities CashCASH584506/30/20120.000362.00 362.00 362.00 362.00N/A10.00Morgan Stanley CashCASH508912/31/20100.000420,954.15 420,954.15 420,954.15 420,954.15N/A11.09Oppenheimer CashMM990512/27/20110.000248,260.42 248,260.42 248,260.42 248,260.42N/A10.64Sub Total / Average0.000669,576.57 669,576.57 669,576.57 669,576.5710.001.74Allegiance Bank TX 2.2 11/3/202201748DAY211/03/20172.200245,000.00 245,000.00 245,000.00 235,405.80 11/03/20221,495398.710.64Ally Bank 1.95 10/19/202002006L6D010/19/20171.950149,000.00 149,000.00 149,000.00 146,142.18 10/19/20207501,305.480.39Ally Bk, Midvale, UT 1.25 9/3/201902006LL6809/01/20161.25096,000.00 96,000.00 96,000.00 94,794.24 09/03/201933895.340.25American Exp BK FSB, UT 1.95 7/17/201902587CAF707/17/20141.950245,000.00 245,000.00 245,000.00 244,287.05 07/17/2019290981.680.64Amex Centurion, Salt Lake City UT 2.2 12/11/2019 02587DWX2 12/11/20142.200245,000.00 245,000.00 245,000.00 243,446.70 12/11/20194371,639.150.64Apex Bank 1.85 4/26/202103753XAU410/25/20171.850245,000.00 245,000.00 245,000.00 237,966.05 04/26/202193962.090.64Bank of New England 3.25 7/31/202306426KAN807/31/20183.250245,000.00 245,000.00 245,000.00 244,213.55 07/31/20231,7650.000.64Bankwest SD 1.5 3/30/2023-1706652CFN603/30/20161.500245,000.00 245,000.00 245,000.00 234,099.95 03/30/20231,6420.000.64Barclays Bk Delaware 2.3 10/18/202206740KLD710/18/20172.300245,000.00 245,000.00 245,000.00 236,532.80 10/18/20221,4792,547.330.64BMW Bank NA, Utah 2.1 12/11/201805568P6L612/11/20132.100245,000.00 245,000.00 245,000.00 244,968.15 12/11/2018721,564.640.64Bridgewater Bank 3.1 9/26/2022108622HC809/26/20183.100245,000.00 245,000.00 245,000.00 244,042.05 09/26/20221,45783.230.64Capital One Bank Glen Allen VA 2.25 9/30/2020140420WD809/30/20152.250245,000.00 245,000.00 245,000.00 241,886.05 09/30/20207310.000.64Cathay Bank 1.7 3/25/2019149159LJ209/25/20171.700245,000.00 245,000.00 245,000.00 244,407.10 03/25/201917657.050.64CF Bank 3.15 9/18/202315721UCQ009/18/20183.150245,000.00 245,000.00 245,000.00 242,866.05 09/18/20231,814253.730.64Citibank Sioux Falls 3.15 7/25/202217312QP8607/24/20183.150245,000.00 245,000.00 245,000.00 244,676.60 07/25/20221,3941,437.780.64City National Bank 3.05 8/8/202217801GBU208/06/20183.050245,000.00 245,000.00 245,000.00 243,748.05 08/08/20221,408491.340.64Comenity Bank 2.4 6/7/202220036DZV206/07/20172.400200,000.00 200,000.00 200,000.00 191,700.00 06/07/20221,346368.220.52COMENITY BK SALT LAKE CITY UT 2.6 11/24/2021 20033AJN711/26/20142.600245,000.00 245,000.00 245,000.00 242,020.80 11/24/20211,15169.810.64Discover Bank Greenwood DE 2 12/11/2018254671C8112/11/20132.000245,000.00 245,000.00 245,000.00 244,973.05 12/11/2018721,490.140.64Enerbank USA, UT 2.25 8/28/202029266NB4808/28/20142.250245,000.00 245,000.00 245,000.00 242,150.65 08/28/2020698498.390.64Farm Bur Bank 1.7 2/7/2020307660KT611/08/20171.700245,000.00 245,000.00 245,000.00 241,866.45 02/07/2020495251.040.64First Farmers 1.85 4/8/2021-18320165JB009/08/20171.850245,000.00 245,000.00 245,000.00 238,154.70 04/08/2021921273.190.64First United Bk & Trust 3.3 9/26/2023-1933742CAC109/26/20183.300245,000.00 245,000.00 245,000.00 244,559.00 09/26/20231,82288.600.64GE Cap Bk Inc Retail 2.55 7/19/202136161TS4807/18/20142.550150,000.00 150,000.00 150,000.00 148,387.50 07/19/20211,023775.480.39GE Cap Ret BK, Draper UT 2.65 3/29/202136157QXM403/28/20142.65096,000.00 96,000.00 96,000.00 95,206.08 03/29/202191113.940.25GE CAPITAL, UT 2.6 9/21/202036157QQQ309/20/20132.600150,000.00 150,000.00 150,000.00 148,572.00 09/21/2020722106.850.39Goldman Sachs 2.4 9/6/202238148PPC509/06/20172.400245,000.00 245,000.00 245,000.00 237,787.20 09/06/20221,437386.630.64Harden County 3.1 9/28/2023412022CJ209/28/20183.100245,000.00 245,000.00 245,000.00 242,251.10 09/28/20231,82441.620.64Industrial & Coml NY 2.65 2/14/202345581EAR202/14/20182.650245,000.00 245,000.00 245,000.00 238,911.75 02/14/20231,598284.600.64Iowa State Clarksville 3.15 9/28/202346256YAY509/28/20183.150245,000.00 245,000.00 245,000.00 242,826.85 09/28/20231,82442.290.64JP Morgan Chase Step 5/30/2023-1848126X3R405/30/20172.804245,000.00 245,000.00 245,000.00 240,305.80 05/30/20231,703431.940.64KS State Bank Manhattan 2.1 5/17/202250116CBE811/17/20172.100245,000.00 245,000.00 245,000.00 236,067.30 05/17/20221,325183.250.64Live Oak Banking Co 2.4 3/9/2020538036DK703/09/20182.400245,000.00 245,000.00 245,000.00 243,993.05 03/09/2020526467.180.64Marine Bank 3 1/18/202256817TAH407/18/20183.000245,000.00 245,000.00 245,000.00 244,056.75 01/18/20221,206241.640.64Marlin Business Bk 1.95 5/17/202157116AQG611/17/20171.950245,000.00 245,000.00 245,000.00 238,370.30 05/17/2021960170.160.64Merrick Bank2.2 11/8/202259013JD7111/08/20172.200245,000.00 245,000.00 245,000.00 235,359.25 11/08/20221,500324.880.64Morgan Stanley Bk 2.45 1/25/202161747MG9601/25/20182.450245,000.00 245,000.00 245,000.00 242,177.60 01/25/20218481,101.830.64Nationwide Bank 1.85 2/28/202063861NAK111/30/20171.850245,000.00 245,000.00 245,000.00 242,175.15 02/28/20205160.000.64NBT Bank, NY 2.1 8/27/2019628779FP008/27/20142.100245,000.00 245,000.00 245,000.00 243,988.15 08/27/2019331479.260.64Northwest Bank 2 4/29/202266736ABJ711/10/20172.000245,000.00 245,000.00 245,000.00 235,403.35 04/29/20221,3070.000.64Old Natl Bank Evansville 1.5 10/30/2018680061HD310/30/20171.500245,000.00 245,000.00 245,000.00 244,911.80 10/30/2018300.000.64Peoples United1.6 5/10/201971270QQW9 05/10/20171.600248,000.00 248,000.00 248,000.00 247,012.96 05/10/20192221,554.590.64Pinnacle Bank 1.85 2/26/202172345SFT308/30/20171.850245,000.00 245,000.00 245,000.00 238,568.75 02/26/20218800.000.64CashCertificate Of DepositCITY OF PRIOR LAKE, MINNESOTAInvestment Portfolio - By Security TypeSeptember 30, 2018
Sallie Mae Salt Lake Cty 1.7 10/25/2019795450F2610/25/20171.700245,000.00 245,000.00 245,000.00 242,814.60 10/25/20193901,802.930.64Southern Sts Bk 2 4/20/2021843879BB212/20/20172.000245,000.00 245,000.00 245,000.00 238,931.35 04/20/2021933134.250.64STATE BK INDIA NEW YORK NY 2.6 12/6/20218562843H512/05/20142.600245,000.00 245,000.00 245,000.00 241,018.75 12/06/20211,1632,041.890.64TCF Sioux Falls SD 1.6 11/8/2019872278Q8211/08/20171.600245,000.00 245,000.00 245,000.00 242,429.95 11/08/20194041,557.260.64Third Federal Savings 1.9 9/15/202088413QBQ009/15/20171.900245,000.00 245,000.00 245,000.00 240,384.20 09/15/2020716191.300.64WebBank 2 9/28/2020-17947547JR709/28/20172.000245,000.00 245,000.00 245,000.00 240,688.00 09/28/202072926.850.64Webster 5 Cnts 1.55 9/17/2021-1794789PBV503/18/20161.550245,000.00 245,000.00 245,000.00 234,376.80 09/17/20211,083124.850.64Wells Fargo SF 1.6 5/10/2019949763GU405/10/20171.600245,000.00 245,000.00 245,000.00 244,027.35 05/10/2019222214.790.64Wex Bank 2.7 4/23/202092937CHR207/23/20182.700245,000.00 245,000.00 245,000.00 244,855.45 04/23/20205711,250.510.64Whitney BK - MS 1.65 4/22/2019966594AY904/20/20171.650245,000.00 245,000.00 245,000.00 244,206.20 04/22/20192041,805.280.64Sub Total / Average2.25412,359,000.00 12,359,000.00 12,359,000.00 12,168,972.3694829,712.9932.06FHLB 2 4/25/2022-193130ACKK910/25/20172.000500,000.00 500,000.00 500,000.00 484,745.00 04/25/20221,3034,305.561.30FHLB Step 11/9/2020-183130ACPF511/09/20171.993500,000.00 500,000.00 500,000.00 494,475.00 11/09/20207712,937.501.30Sub Total / Average1.9971,000,000.00 1,000,000.00 1,000,000.00 979,220.001,0377,243.062.59FHLMC 2 11/30/20203134G3VF405/30/20122.0001,790,000.00 1,790,000.00 1,790,000.00 1,757,296.70 11/30/202079211,933.334.64FHLMC Step 5/22/2020-173134GBNG3 05/22/20172.482475,000.00 475,000.00 475,000.00 472,078.75 05/22/20206003,800.001.23FHLMC Step 7/19/2022-173134GBVF607/19/20172.240750,000.00 750,000.00 750,000.00 730,702.50 07/19/20221,3882,958.331.95FHLMC Step 8/24/2021-173134GADQ4 08/24/20161.815700,000.00 700,000.00 700,000.00 685,111.00 08/24/20211,0591,137.501.82Sub Total / Average2.0753,715,000.00 3,715,000.00 3,715,000.00 3,645,188.9593819,829.169.64FNMA Step 7/19/2021-173136G3ZZ107/19/20161.733400,000.00 400,000.00 400,000.00 388,664.00 07/19/20211,0231,183.331.04FNMA Step 7/28/2021-163136G3XY607/28/20161.7821,000,000.00 1,000,000.00 1,000,000.00 980,000.00 07/28/20211,0323,444.442.59FNMA Step 8/24/2021-173136G3V7708/24/20161.980500,000.00 500,000.00 500,000.00 489,295.00 08/24/20211,0591,000.001.30Sub Total / Average1.8241,900,000.00 1,900,000.00 1,900,000.00 1,857,959.001,0375,627.774.934M Term Series LGIP260403-108/31/20181.9501,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00N/A13.894M Term Series LGIP260421-108/31/20182.1001,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00N/A13.89League of Minnesota Cities - 4M Fund LGIPLGIP5101M11/30/20101.7502,429,753.56 2,429,753.56 2,429,753.56 2,429,753.56N/A16.30League of Minnesota Cities - 4M LGIPLGIP5204M2017A 06/13/20171.7504,489.51 4,489.51 4,489.51 4,489.51N/A10.01League of Minnesota Cities - 4M Plus Fund LGIPLGIP5101MP 11/30/20101.8302,994,772.46 2,994,772.46 2,994,772.46 2,994,772.46N/A17.77League of Minnesota Cities LGIPLGIP5204MP2017A 09/21/20171.830501,724.63 501,724.63 501,724.63 501,724.63N/A11.30League of Mn Cities LGIPLGIP52054M 07/17/20181.7503,667,888.99 3,667,888.99 3,667,888.99 3,667,888.99N/A19.52Sub Total / Average1.83812,598,629.15 12,598,629.15 12,598,629.15 12,598,629.1510.0032.68Ansonia CT Bds 4 2/1/2021036519PR102/01/20182.550210,000.00 218,740.20 216,818.31 213,843.00 02/01/20218551,376.670.54Desert Sands CA ISD 2.852 6/1/2021250433QJ102/01/20182.5781,165,000.00 1,175,100.55 1,173,098.71 1,142,002.90 06/01/202197510,982.973.02Duluth ISD 709 2.35 2/1/2019264471LE111/29/20172.350115,000.00 115,000.00 115,000.00 114,695.25 02/01/2019124442.910.30Federal Farm CR 2.59 5/30/20243133EHLD307/16/20183.140500,000.00 485,345.00 485,864.24 478,955.00 05/30/20242,0694,316.671.30Greene Cnty Ohio 1.75 12/1/2018394641KF002/22/20182.100250,000.00 249,327.50 249,852.15 249,725.00 12/01/2018621,446.180.65Iowa Westn Comm2.8 6/1/2023462612SE302/12/20182.800195,000.00 195,000.00 195,000.00 190,963.50 06/01/20231,7051,804.830.51Kenosha WI2.398 9/1/20194898182S204/03/20171.648470,000.00 478,290.80 473,161.99 468,895.50 09/01/2019336907.911.22Kentucky Assn of Cntys 2.5 2/1/2021491196YV711/30/20172.051465,000.00 471,379.80 469,706.41 456,816.00 02/01/20218551,905.211.21Metropolitan Council 1.55 9/1/2019591852UY209/01/20171.500425,000.00 425,416.50 425,191.70 420,393.00 09/01/2019336530.661.10Minnetonka ISD 276 3 2/1/2021604195YF812/18/20172.150260,000.00 266,627.40 264,966.19 259,298.00 02/01/20218551,278.330.67Monmouth OR Bds 2.9 4/1/2023609694FZ201/30/20182.900255,000.00 255,000.00 255,000.00 250,075.95 04/01/20231,6443,676.960.66Monona Wis Ref 3 10/1/2022610100XT109/18/20183.000200,000.00 200,000.00 200,000.00 199,026.00 10/01/20221,462200.000.52Moundsview ISD 621 3 2/1/2020620637W4610/19/20171.800300,000.00 308,013.00 304,692.64 300,372.00 02/01/20204891,475.000.78Robbinsdale ISD - MN 4.6 2/1/20197702647J205/14/20094.6001,000,000.00 1,000,000.00 1,000,000.00 1,005,900.00 02/01/20191247,538.892.59South Lyon MI 2.69 5/1/2022838736VU710/23/20172.250250,000.00 254,702.50 253,728.39 244,977.50 05/01/20221,3092,783.400.65Washington County Housing 4.25 1/1/2020-10937791KN007/01/20104.250245,000.00 245,000.00 245,000.00 248,415.30 01/01/20204582,574.200.64Sub Total / Average2.7696,305,000.00 6,342,943.25 6,327,080.73 6,244,353.9080243,240.7916.36Total / Average2.11838,547,205.72 38,585,148.97 38,569,286.45 38,163,899.93604 105,653.77100FHLB BondFHLMC BondFNMA BondLocal Government Investment PoolMunicipal Bond