HomeMy WebLinkAbout5H 2019 3rd Q Investment Report
4646 Dakota Street SE
Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: NOVEMBER 4th, 2019
AGENDA #: 5H
PREPARED BY: DANIELLE AMIRA, ACCOUNTANT
PRESENTED BY: CATHY ERICKSON, FINANCE DIRECTOR
AGENDA ITEM: CONSIDER APPROVAL OF 3RD QUARTER 2019 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 2019.
Current Circumstances
Staff has prepared a list of investments as of September 30th, 2019. The Invest-
ment 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 2019 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, 2019, the balance of the investment portfolio is $37,216,006.52. This is a de-
crease of $2M from June 30th, 2019.
The ‘weighted average yield to maturity at cost’ of the investment portfolio is currently 2.16% which is
a decrease from 2.22% 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 $9.5M.
It continues to be challenging to find competitive rates for short-term investments---30 to 120-day ma-
turities. These short-term securities are necessary to meet cash flow needs for payments to vendors
(including construction contracts) and payroll. The following table shows the treasury rates for the 3rd
quarter of 2019 compared to the previous two years:
As rates decrease, the market value of the existing securities will increase. As of September 30, 2019,
the market value of the portfolio is more than the cost of the investments by $265K. The change in the
fair value of the securities is adjusted against interest earnings in each of the funds. This is a paper
gain for the third quarter of 2019; no actual gain is realized because the City holds the securities until
maturity.
-
0.50
1.00
1.50
2.00
2.50
3.00
3.50
1 mo 3 mo 6 mo 1 yr 2 yr 3 yr 5 yr 7 yr 10 yr
US Treasury Yield Curve
9/30/17 9/30/18 9/30/19
3
During the third quarter of 2019, the chart below shows how rates are showing a slight decrease, es-
pecially mid to long term securities. Current long-term rates being offered by financial institutions con-
tinues to be very low.
As the attached chart titled Investment Portfolio – Diversification, by Maturity Range indicates, approx-
imately 28% or $10.4 million matures within 1 month. Of that total, $9.5 million is in the 4M invest-
ment pool which is currently generating the highest money market interest rates. These funds will be
invested as the appropriate security (type, rate, and maturity) becomes available. Staff continues to
look for opportunities to invest our short-term funds.
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 $37.5M. Of
this balance, $37.2M is investments and $285k 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.
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;
-
0.50
1.00
1.50
2.00
2.50
1 mo 3 mo 6 mo 1 yr 2 yr 3 yr 5 yr 7 yr 10 yr
US Treasury Yield Curve
7/31/19 8/31/19 9/30/19
4
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
9/30/2018 12/31/2018 3/31/2019 6/30/2019 9/30/2019 year prior
Market Value 13,268,206 10,231,597 5,559,979 13,668,660 10,371,851 (2,896,355)
1 1 1 1 1 0
1.75%2.01%2.07%1.95%1.71%-0.04%
Fixed Income Assets
25,316,943 26,580,050 26,207,580 25,631,026 26,844,156 1,527,212
24,895,694 26,249,015 26,145,555 25,752,883 27,109,395 2,213,701
920 929 870 841 903 (17)
678 716 678 642 720 42
2.31%2.42%2.36%2.37%2.33%0.02%
Total Portfolio Value
38,585,149 36,811,647 31,767,559 39,299,686 37,216,007 (1,369,142)
38,163,900 36,480,612 31,705,534 39,421,544 37,481,246 (682,654)
105,654 129,632 120,321 111,297 119,459 13,805
(421,249)(331,035)(62,025)121,857 265,239 686,488
604 670 718 549 651 47
445 517 559 419 519 74
2.12%2.30%2.31%2.22%2.16%0.04%
BENCHMARK
90 Day T-Bill 2.19%2.45%2.40%2.12%1.88%-0.31%
2.36%2.56%2.44%2.09%1.83%-0.53%
2.59%2.63%2.40%1.92%1.75%-0.84%
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
Weighted Average Yield to
Maturity @ Cost
CITY OF PRIOR LAKE, MINNESOTA
Quarterly Investment Report
September 30, 2019
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
City of Prior Lake - Quarterly Investment Report
YTM @
Cost Cost Value
Days to
Maturity
% of
Portfolio
Cash - 861,837 1 2.32%
Certificate of Deposit 2.376 14,473,059 1,033 38.97%
FHLB Bond 2.245 1,698,530 426 4.58%
FHLMC Bond 2.016 3,240,000 623 8.72%
FNMA Bond 1.768 1,400,000 664 3.77%
LGIP 1.865 9,510,014 1 25.61%
Municipal Bond 2.552 6,032,566 929 16.03%
Total / Average 2.158 37,216,007 651 100.00%
CITY OF PRIOR LAKE, MINNESOTA
Investment Portfolio - Diversification, by Security Type
September 30, 2019
Description
City of Prior Lake - Quarterly Investment Report
YTM @
Cost Cost Value
Days to
Maturity
% of
Portfolio
0-1 Month 1.710 10,371,851 1 27.93%
1-3 Months 2.312 1,188,530 66 3.20%
3-6 Months 2.374 1,288,013 131 3.45%
6-9 Months 2.700 245,000 206 0.66%
9-12 Months 2.166 1,130,000 354 3.04%
1-2 Years 2.048 8,631,848 551 23.16%
2-3 Years 2.326 4,566,699 972 12.26%
3-4 Years 2.671 5,893,887 1,305 15.82%
4-5 Years 2.470 3,900,179 1,703 10.48%
Total / Average 2.158 37,216,007 651 100.00%
CITY OF PRIOR LAKE, MINNESOTA
Investment Portfolio - Diversification, by Maturity Range
September 30, 2019
Description
City of Prior Lake - Quarterly Investment Report
Description CUSIP/Ticker Transaction ID Settlement Date YTM @ Cost Face Amount/Shares Cost Value Book Value Market Value Maturity Date Days To Maturity Accrued Interest % of Portfolio
Cash - Northland Securities Cash CASH5845 06/30/2012 0.000 424,761.35 424,761.35 424,761.35 424,761.35 N/A 1 1.14
Morgan Stanley Cash CASH5089 12/31/2010 0.000 433,376.86 433,376.86 433,376.86 433,376.86 N/A 1 1.17
Oppenheimer Cash MM9905 12/27/2011 0.000 3,698.62 3,698.62 3,698.62 3,698.62 N/A 1 0.01
Sub Total / Average Cash 0.000 861,836.83 861,836.83 861,836.83 861,836.83 1 0.00 2.32
Allegiance Bank TX 2.2 11/3/2022 01748DAY2 58629 11/03/2017 2.200 245,000.00 245,000.00 245,000.00 247,829.75 11/03/2022 1,130 398.71 0.66
Ally Bank 1.95 10/19/2020 02006L6D0 57803 10/19/2017 1.950 149,000.00 149,000.00 149,000.00 149,230.95 10/19/2020 385 1,305.48 0.40
Alma Bank 1.8 9/11/2023 020080BM8 58424 09/11/2019 1.800 245,000.00 245,000.00 245,000.00 244,551.65 09/11/2023 1,442 471.21 0.66
Amex Centurion, Salt Lake City UT 2.2 12/11/2019 02587DWX2 27471 12/11/2014 2.200 245,000.00 245,000.00 245,000.00 245,083.30 12/11/2019 72 1,639.15 0.66
Apex Bank 1.85 4/26/2021 03753XAU4 9176 10/25/2017 1.850 245,000.00 245,000.00 245,000.00 245,188.65 04/26/2021 574 62.09 0.66
Bank Baroda New York 3.55 11/30/2023 06062R-7R-7 33681 11/30/2018 3.550 245,000.00 245,000.00 245,000.00 261,464.00 11/30/2023 1,522 2,899.17 0.66
Bank of New England 3.25 7/31/2023 06426KAN8 24540 07/31/2018 3.250 245,000.00 245,000.00 245,000.00 257,752.25 07/31/2023 1,400 0.00 0.66
Bankers Bank West Denver CO 1.8 9/30/2024 06610T-EE-1 23210 09/30/2019 1.800 245,000.00 245,000.00 245,000.00 243,250.70 09/30/2024 1,827 0.00 0.66
Bankwest SD 1.5 3/30/2023-17 06652CFN6 4009 03/30/2016 1.500 245,000.00 245,000.00 245,000.00 245,014.70 03/30/2023 1,277 0.00 0.66
Barclays Bk Delaware 2.3 10/18/2022 06740KLD7 57203 10/18/2017 2.300 245,000.00 245,000.00 245,000.00 248,518.20 10/18/2022 1,114 2,547.33 0.66
Bridgewater BK Bloomington 2.55 6/17/2024-19 108622HU8 FDIC# 58210 06/17/2019 2.550 245,000.00 245,000.00 245,000.00 245,355.25 06/17/2024 1,722 222.51 0.66
Capital BK3.15 10/28/2022 139797HC1 34562 10/29/2018 3.150 245,000.00 245,000.00 245,000.00 254,785.30 10/28/2022 1,124 21.14 0.66
Capital One Bank Glen Allen VA 2.25 9/30/2020 140420WD8 33954 09/30/2015 2.250 245,000.00 245,000.00 245,000.00 246,092.70 09/30/2020 366 0.00 0.66
Capital One Nat'l Assn McLean 2.1 8/14/2024 14042RMW8 4297 08/14/2019 2.100 247,000.00 247,000.00 247,000.00 248,862.38 08/14/2024 1,780 667.92 0.67
Celtic Bank 1.8 8/30/2023 15118RRF6 57056 08/30/2019 1.800 245,000.00 245,000.00 245,000.00 244,566.35 08/30/2023 1,430 0.00 0.66
CF Bank 3.15 9/18/2023 15721UCQ0 28263 09/18/2018 3.150 245,000.00 245,000.00 245,000.00 257,183.85 09/18/2023 1,449 253.73 0.66
Citibank Sioux Falls 3.15 7/25/2022 17312QP86 7213 07/24/2018 3.150 245,000.00 245,000.00 245,000.00 253,998.85 07/25/2022 1,029 1,437.78 0.66
City National Bank 3.05 8/8/2022 17801GBU2 3814 08/06/2018 3.050 245,000.00 245,000.00 245,000.00 253,447.60 08/08/2022 1,043 491.34 0.66
COMENITY BK SALT LAKE CITY UT 2.6 11/24/2021 20033AJN7 57570 11/26/2014 2.600 245,000.00 245,000.00 245,000.00 249,647.65 11/24/2021 786 69.81 0.66
Discover Bank 1.9 5/11/2023 254672YR3 5649 09/17/2019 2.001 245,000.00 244,135.15 244,143.59 245,551.25 05/11/2023 1,319 1,810.99 0.66
Enerbank USA, UT 2.25 8/28/2020 29266NB48 57293 08/28/2014 2.250 245,000.00 245,000.00 245,000.00 246,002.05 08/28/2020 333 498.39 0.66
Enterprise Bank Allison Park PA 1.8 9/27/2024 29367R-LA-2 34786 09/27/2019 1.800 245,000.00 245,000.00 245,000.00 243,267.85 09/27/2024 1,824 36.25 0.66
Farm Bur Bank 1.7 2/7/2020 307660KT6 35157 11/08/2017 1.700 245,000.00 245,000.00 245,000.00 244,853.00 02/07/2020 130 251.04 0.66
First Farmers 1.85 4/8/2021-18 320165JB0 12839 09/08/2017 1.850 245,000.00 245,000.00 245,000.00 244,980.40 04/08/2021 556 273.19 0.66
First United Bank & Trust 2.1 8/30/2024-20 33742CAM9 4239 08/30/2019 2.100 245,000.00 245,000.00 245,000.00 245,308.70 08/30/2024 1,796 0.00 0.66
Firstbank Puerto Rico 1.8 9/6/2022 33767GAE8 30387 09/06/2019 1.800 245,000.00 245,000.00 245,000.00 244,921.60 09/06/2022 1,072 374.55 0.66
GE Cap Bk Inc Retail 2.55 7/19/2021 36161TS48 33778 07/18/2014 2.550 150,000.00 150,000.00 150,000.00 152,259.00 07/19/2021 658 775.48 0.40
GE Cap Ret BK, Draper UT 2.65 3/29/2021 36157QXM4 27314 03/28/2014 2.650 96,000.00 96,000.00 96,000.00 97,204.80 03/29/2021 546 13.94 0.26
GE CAPITAL, UT 2.6 9/21/2020 36157QQQ3 27314 09/20/2013 2.600 150,000.00 150,000.00 150,000.00 150,868.50 09/21/2020 357 106.85 0.40
Goldman Sachs 2.4 9/6/2022 38148PPC5 33124 09/06/2017 2.400 245,000.00 245,000.00 245,000.00 249,108.65 09/06/2022 1,072 386.63 0.66
Harden County 3.1 9/28/2023 412022CJ2 5817 09/28/2018 3.100 245,000.00 245,000.00 245,000.00 256,784.50 09/28/2023 1,459 41.62 0.66
Industrial & Coml NY 2.65 2/14/2023 45581EAR2 24387 02/14/2018 2.650 245,000.00 245,000.00 245,000.00 251,595.40 02/14/2023 1,233 284.60 0.66
Iowa State Clarksville 3.15 9/28/2023 46256YAY5 15947 09/28/2018 3.150 245,000.00 245,000.00 245,000.00 257,227.95 09/28/2023 1,459 42.29 0.66
JP Morgan Chase Step 5/30/2023-18 48126X3R4 628 05/30/2017 2.804 245,000.00 245,000.00 245,000.00 244,975.50 05/30/2023 1,338 431.94 0.66
KS State Bank Manhattan 2.1 5/17/2022 50116CBE8 19899 11/17/2017 2.100 245,000.00 245,000.00 245,000.00 246,839.95 05/17/2022 960 183.25 0.66
Live Oak Banking Co 2.4 3/9/2020 538036DK7 58665 03/09/2018 2.400 245,000.00 245,000.00 245,000.00 245,592.90 03/09/2020 161 467.18 0.66
Marine Bank 3 1/18/2022 56817TAH4 20250 07/18/2018 3.000 245,000.00 245,000.00 245,000.00 251,597.85 01/18/2022 841 241.64 0.66
Marlin Business Bk 1.95 5/17/2021 57116AQG6 58267 11/17/2017 1.950 245,000.00 245,000.00 245,000.00 245,590.45 05/17/2021 595 170.16 0.66
Merrick Bank2.2 11/8/2022 59013JD71 34519 11/08/2017 2.200 245,000.00 245,000.00 245,000.00 247,839.55 11/08/2022 1,135 324.88 0.66
Morgan Stanley Bk 2.45 1/25/2021 61747MG96 32992 01/25/2018 2.450 245,000.00 245,000.00 245,000.00 247,072.70 01/25/2021 483 1,101.83 0.66
MS Private Bank 3.55 11/8/2023 61760ARS0 34221 11/08/2018 3.550 245,000.00 245,000.00 245,000.00 260,594.25 11/08/2023 1,500 3,455.17 0.66
National Cooperative Bank3.4 12/21/2023 635573AL2 323612 12/24/2018 3.400 245,000.00 245,000.00 245,000.00 260,138.55 12/21/2023 1,543 2,305.01 0.66
Nationwide Bank 1.85 2/28/2020 63861NAK1 34710 11/30/2017 1.850 245,000.00 245,000.00 245,000.00 244,995.10 02/28/2020 151 0.00 0.66
Northwest Bank 2 4/29/2022 66736ABJ7 58752 11/10/2017 2.000 245,000.00 245,000.00 245,000.00 246,193.15 04/29/2022 942 0.00 0.66
Pinnacle Bank 1.85 2/26/2021 72345SFT3 35583 08/30/2017 1.850 245,000.00 245,000.00 245,000.00 245,171.50 02/26/2021 515 0.00 0.66
Preferred Bank LA Calif 1.95 8/30/2024 740367HR1 33539 08/30/2019 1.950 249,000.00 249,000.00 249,000.00 249,099.60 08/30/2024 1,796 0.00 0.67
Sallie Mae Bank Utah 1.9 9/18/2024 7954504D4 58177 09/18/2019 1.900 245,000.00 245,000.00 245,000.00 244,458.55 09/18/2024 1,815 153.04 0.66
Silvergate Bank 2.45 6/28/2024-19 828373GN4 FDIC #27330 06/28/2019 2.450 245,000.00 245,000.00 245,000.00 245,350.35 06/28/2024 1,733 32.89 0.66
Southern Sts Bk 2 4/20/2021 843879BB2 58558 12/20/2017 2.000 245,000.00 245,000.00 245,000.00 245,752.15 04/20/2021 568 134.25 0.66
Cash
Certificate Of Deposit
CITY OF PRIOR LAKE, MINNESOTA
Investment Portfolio - By Security Type
September 30, 2019
Spring Bank3.25 10/24/2023 849430AY9 58668 10/24/2018 3.250 245,000.00 245,000.00 245,000.00 258,362.30 10/24/2023 1,485 130.89 0.66
STATE BK INDIA NEW YORK NY 2.6 12/6/2021 8562843H5 33682 12/05/2014 2.600 245,000.00 245,000.00 245,000.00 249,010.65 12/06/2021 798 2,041.89 0.66
Sterling Bank Poplar Bluff MO 3.1 1/11/2023 85916V-CY-9 57813 01/11/2019 3.100 245,000.00 245,000.00 245,000.00 254,932.30 01/11/2023 1,199 1,685.47 0.66
TCF Sioux Falls SD 1.6 11/8/2019 872278Q82 28330 11/08/2017 1.600 245,000.00 245,000.00 245,000.00 244,916.70 11/08/2019 39 1,557.26 0.66
Third Federal Savings 1.9 9/15/2020 88413QBQ0 30012 09/15/2017 1.900 245,000.00 245,000.00 245,000.00 245,232.75 09/15/2020 351 191.30 0.66
TIAA FSB Jacksonville FLA 1.95 8/26/2022 87270LCR2 34775 08/28/2019 1.950 247,000.00 247,000.00 247,000.00 247,968.24 08/26/2022 1,061 620.21 0.67
UBS Bank USA 3.25 10/17/2022 90348JEG1 57565 10/17/2018 3.250 245,000.00 245,000.00 245,000.00 255,424.75 10/17/2022 1,113 283.60 0.66
Washington Federal 1.95 8/28/2024 938828BN9 28088 08/28/2019 1.950 245,000.00 245,000.00 245,000.00 245,102.90 08/28/2024 1,794 26.18 0.66
WebBank 2 9/28/2020-17 947547JR7 34404 09/28/2017 2.000 245,000.00 245,000.00 245,000.00 245,012.25 09/28/2020 364 26.85 0.66
Webster 5 Cnts 1.55 9/17/2021-17 94789PBV5 90297 03/18/2016 1.550 245,000.00 245,000.00 245,000.00 243,819.10 09/17/2021 718 124.85 0.66
Wells Fargo BK NA Sioux Falls 2.75 5/17/2024 949763-B6-2 3511 06/11/2019 2.650 200,000.00 200,924.00 200,867.08 206,578.00 05/17/2024 1,691 195.89 0.54
Wex Bank 2.7 4/23/2020 92937CHR2 34697 07/23/2018 2.700 245,000.00 245,000.00 245,000.00 246,210.30 04/23/2020 206 1,250.51 0.66
Sub Total / Average Certificate Of Deposit 2.376 14,473,000.00 14,473,059.15 14,473,010.67 14,685,590.07 1,033 34,519.33 38.97
FHLB 2 4/25/2022-19 3130ACKK9 10/25/2017 2.000 500,000.00 500,000.00 500,000.00 500,120.00 04/25/2022 938 4,305.56 1.35
FHLB 2.375 12/13/2019 3130A0JR2 01/02/2019 2.600 700,000.00 698,530.00 699,684.70 700,630.00 12/13/2019 74 4,941.32 1.89
FHLB Step 11/9/2020-18 3130ACPF5 11/09/2017 1.993 500,000.00 500,000.00 500,000.00 500,140.00 11/09/2020 406 3,916.67 1.35
Sub Total / Average FHLB Bond 2.245 1,700,000.00 1,698,530.00 1,699,684.70 1,700,890.00 426 13,163.55 4.58
FHLMC 2 11/30/2020 3134G3VF4 05/30/2012 2.000 1,790,000.00 1,790,000.00 1,790,000.00 1,793,938.00 11/30/2020 427 11,933.33 4.82
FHLMC Step 7/19/2022-17 3134GBVF6 07/19/2017 2.240 750,000.00 750,000.00 750,000.00 750,097.50 07/19/2022 1,023 2,958.33 2.02
FHLMC Step 8/24/2021-17 3134GADQ4 08/24/2016 1.815 700,000.00 700,000.00 700,000.00 700,084.00 08/24/2021 694 1,400.00 1.89
Sub Total / Average FHLMC Bond 2.016 3,240,000.00 3,240,000.00 3,240,000.00 3,244,119.50 623 16,291.66 8.72
FNMA Step 7/19/2021-17 3136G3ZZ1 07/19/2016 1.733 400,000.00 400,000.00 400,000.00 399,172.00 07/19/2021 658 1,577.78 1.08
FNMA Step 7/28/2021-16 3136G3XY6 07/28/2016 1.782 1,000,000.00 1,000,000.00 1,000,000.00 998,740.00 07/28/2021 667 3,444.44 2.69
Sub Total / Average FNMA Bond 1.768 1,400,000.00 1,400,000.00 1,400,000.00 1,397,912.00 664 5,022.22 3.77
League of Minnesota Cities - 4M Fund LGIP LGIP5101M 11/30/2010 1.830 3,889,129.38 3,889,129.38 3,889,129.38 3,889,129.38 N/A 1 10.47
League of Minnesota Cities - 4M LGIP LGIP5204M2017A Good Faith Deposit 06/13/2017 1.830 0.00 0.00 0.00 0.00 N/A 1 0.00
League of Minnesota Cities - 4M Plus Fund LGIP LGIP5101MP 11/30/2010 1.910 4,192,922.29 4,192,922.29 4,192,922.29 4,192,922.29 N/A 1 11.29
League of Minnesota Cities LGIP LGIP5204MP2017A Transfer from 4M2017A 09/21/2017 1.910 0.26 0.26 0.26 0.26 N/A 1 0.00
League of MN Cities LGIP LGIP52064M Phone Wire Purchase 06/04/2019 1.830 1,390,009.73 1,390,009.73 1,390,009.73 1,390,009.73 N/A 1 3.74
League of Mn Cities LGIP LGIP52054M Good Faith Deposit 07/17/2018 1.830 37,952.43 37,952.43 37,952.43 37,952.43 N/A 1 0.10
Sub Total / Average Local Government Investment Pool 1.865 9,510,014.09 9,510,014.09 9,510,014.09 9,510,014.09 1 0.00 25.61
Ansonia CT Bds 4 2/1/2021 036519PR1 02/01/2018 2.550 210,000.00 218,740.20 213,907.57 214,920.30 02/01/2021 490 1,376.67 0.57
Armada Mich Area Schools Ref Bond 2.712 5/1/2022 042105MG8 08/29/2019 1.750 400,000.00 409,996.00 409,668.26 409,336.00 05/01/2022 944 4,489.87 1.08
Columbus Ohio2.333 12/1/2022 199492-CT-4 08/26/2019 1.750 100,000.00 101,840.00 101,786.02 101,613.00 12/01/2022 1,158 771.19 0.27
Desert Sands CA ISD 2.852 6/1/2021 250433QJ1 02/01/2018 2.578 1,165,000.00 1,175,100.55 1,170,066.89 1,182,102.20 06/01/2021 610 10,982.97 3.14
First Natl Bk Damariscotta 3.5 6/6/2023-19 32117B-CQ-9 4256 12/06/2018 3.500 245,000.00 245,000.00 245,000.00 245,725.20 06/06/2023 1,345 547.85 0.66
Iowa Westn Comm2.8 6/1/2023 462612SE3 02/12/2018 2.800 195,000.00 195,000.00 195,000.00 201,296.55 06/01/2023 1,340 1,804.83 0.53
Kentucky Assn of Cntys 2.5 2/1/2021 491196YV7 11/30/2017 2.051 465,000.00 471,379.80 467,697.24 467,292.45 02/01/2021 490 1,905.21 1.25
Medallion Bk Salt Lake City 3.4 12/7/2022 58404D-CX-7 57449 12/07/2018 3.400 245,000.00 245,000.00 245,000.00 256,980.50 12/07/2022 1,164 532.19 0.66
Minnetonka ISD 276 3 2/1/2021 604195YF8 12/18/2017 2.150 260,000.00 266,627.40 262,846.12 263,354.00 02/01/2021 490 1,278.33 0.70
Monmouth OR Bds 2.9 4/1/2023 609694FZ2 01/30/2018 2.900 255,000.00 255,000.00 255,000.00 263,180.40 04/01/2023 1,279 3,676.96 0.69
Monona Wis Ref 3 10/1/2022 610100XT1 09/18/2018 3.000 200,000.00 200,000.00 200,000.00 205,838.00 10/01/2022 1,097 2,983.33 0.54
Moundsview ISD 621 3 2/1/2020 620637W46 10/19/2017 1.800 300,000.00 308,013.00 301,189.95 300,966.00 02/01/2020 124 1,475.00 0.81
Oak Creek WIS 4 10/1/2023 671137-YP-6 11/27/2018 3.402 280,000.00 287,434.00 286,143.87 302,195.60 10/01/2023 1,462 5,568.89 0.75
Oklahoma Cnty Okla Metro 2.65 6/1/2024 67869T-AD-7 07/15/2019 2.286 500,000.00 508,255.00 507,898.50 515,905.00 06/01/2024 1,706 4,379.86 1.35
Rhode IS Infrastructure Bk 2.18 10/1/2023 7622F-DD-7 06/27/2019 2.151 435,000.00 435,522.00 435,490.15 439,837.20 10/01/2023 1,462 2,686.85 1.17
South Lyon MI 2.69 5/1/2022 838736VU7 10/23/2017 2.250 250,000.00 254,702.50 252,688.77 255,380.00 05/01/2022 944 2,783.40 0.67
St. Charles County MO Francis Howell School Distri 787642-4F-1 08/07/2019 2.531 200,000.00 209,956.00 209,543.08 208,758.00 03/01/2023 1,248 644.44 0.54
Washington County Housing 4.25 1/1/2020-10 937791KN0 07/01/2010 4.250 245,000.00 245,000.00 245,000.00 246,202.95 01/01/2020 93 2,574.20 0.66
Sub Total / Average Municipal Bond 2.552 5,950,000.00 6,032,566.45 6,003,926.42 6,080,883.35 929 50,462.04 16.02
Total / Average 2.158 37,134,850.92 37,216,006.52 37,188,472.71 37,481,245.84 651 119,458.80 100
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FNMA Bond
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