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0001_2_SA Investment - Exhibit A Report 2016-12
CITY OF LAKE ELSINORE INVESTMENT REPORT BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 3,639,953$ 416,250$ (958,946)$ 3,097,256$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 3,639,953 416,250 (958,946) 3,098,556 INVESTMENTS City Investments: City Local Agency Investment Fund 10,519,815 - 10,519,815 City Local Agency Investment Fund for the PFA 330,938 - - 330,938 City CAMP Investments: CAMP Pool Account 28,055 - - 28,055 U.S. Treasury Bond / Note 10,415,403 - - 10,415,403 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 530,253 - - 530,253 Federal Agency Bond / Note 8,285,516 - - 8,285,516 Corporate Note 6,410,361 - - 6,410,361 Certificate of Deposit 4,074,552 - - 4,074,552 Housing CAMP Investments: Housing CAMP Pool Account 10,606 - - 10,606 Housing U.S. Treasury Bond / Notes 1,655,896 - - 1,655,896 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 95,951 - - 95,951 Housing Federal Agency Bond / Notes 1,585,941 - - 1,585,941 Housing Corporate Notes 1,318,456 - - 1,318,456 Housing Certificate of Deposit 400,000 - - 400,000 Successor Investments: Successor Local Agency Investment Fund 3,996,855 - - 3,996,855 Successor CAMP Investments: Successor CAMP Pool Account 19,594 - - 19,594 Successor U.S. Treasury Bond / Notes 1,755,118 - - 1,755,118 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 95,951 - - 95,951 Successor Federal Agency Bond / Notes 1,881,365 - - 1,881,365 Successor Corporate Notes 1,120,612 - - 1,120,612 Successor Certificate of Deposit 400,000 - - 400,000 Sub-total Investments 55,281,869 - - 55,281,869 Market Value Adjustment: Unrealized Gain/ (Loss) at 06-30-16 City 441,611 - - 441,611 Unrealized Gain/ (Loss) at 06-30-16 SARDA 70,791 - - 70,791 Total Unrealized Gain/ (Loss) at 06-30-16 per GASB 31 512,402 - - 512,402 Total Investments 55,794,271 - - 55,794,271 Total Pooled Cash and Investments 59,434,224$ 416,250$ (958,946)$ 58,892,827$ TOTAL POOLED CASH AND INVESTMENTS 58,892,827$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 16, 2016. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson January 11, 2017 Director of Administrative Services Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF DECEMBER 31, 2016 FUND NO FUND NAME AMOUNT 100 General Fund 10,697,005$ 101 Supplemental Law Enforcement Fund 70,990 104 Traffic Offender Fund 14,217 106 Affordable Housing In Lieu Fund 1,019,944 107 Developer Agreement Revenue 1,250,962 110 State Gas Tax Fund 1,533,483 111 TUMF C.I.P. Fund 2,706 112 Measure A Fund 1,206,701 114 SB1186 CASP Education Program Fund 6,521 115 Traffic Safety Fund 150,004 116 City Hall-Public Works DIF Fund 1,273,325 117 Community Center DIF Fund 567,768 118 Lake Side Facility DIF Fund 705,420 119 Animal Shelter DIF Fund 45,450 121 T.R.I.P.-2014A 128 135 Lighting & Landscape Maintenance Fund - Dist. No. 1 407,174 140 Geothermal Fund 20,032 150 C.D.B.G. Fund 6,333 155 CSA152 -- N.P.D.E.S.39,388 160 PEG Grant Fund 33,490 205 Traffic Impact Fee Fund 3,919,087 211 Storm Drain C.I.P. Fund 2,409,837 221 Quimby Park C.I.P. Fund 16,787 231 Library C.I.P. Fund 1,741,805 232 City Fire Protection Fund 72,352 254 AD 89-1 Railroad Canyon Rd. Improvement Fund 126,253 268 CFD 2006-2 Viscaya Improvement 221 300 Insurance Service 928,134 320 Facilities Service 528,677 332 CFD 2006-1 Improvement Area B, Summerly 6,668 334 CFD 2015-5 Trieste - Far West Industries 18,922 336 CFD 2006-1FF Summerly Improvement Area FF 17,006 337 CFD 2016-2 Canyon Hills 9,484 345 CFD 2003-2S Improvement Area D, Canyon Hills 3,028 346 CFD 2014-1 Southshore Debt Service Fund 63,494 347 CFD 2006-1 Improvement Area A, Summerly 11,055 350 CFD 98-1 Summerhill Debt Service Fund 31,978 352 AD 86-1 Debt Service Fund 659,115 354 CFD 90-2 Successor RDA Debt Service Fund 250,448 357 CFD 2003-2 Canyon Hills Debt Service Fund 44,080 366 CFD 2005-6 City Center Townhomes Debt Service Fund 33,013 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF DECEMBER 31, 2016 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF DECEMBER 31, 2016 368 CFD 2006-2 Viscaya Debt Service Fund 61,261 369 CFD 2004-3 Area 1 Rosetta Canyon Debt Service Fund 37,511 371 CFD 2005-1 Serenity Debt Service Fund 19,425 372 CFD 2005-2 Alberhill Ranch Debt Service Fund 14,282 374 CFD 2005-4 Lakeview Villas Debt Service Fund 44,752 375 CFD 2006-4 Tract No. 30698 & 32129 Debt Service Fund 15,760 376 CFD 2006-3 La Strada Debt Service Fund 19,579 377 CFD 2006-6 Tessara Debt Service Fund 8,899 378 CFD 2006-8 Tract No. 31957 Debt Service Fund 45,821 384 CFD 2003-2 Area B Canyon Hills Debt Service Fund 28,380 385 CFD 2004-3 Area 2 Rosetta Canyon Debt Service Fund 45,101 386 CFD 2007-4 Mekenna Debt Service Fund 5,238 387 CFD 2007-5 Red Kite Debt Service Fund 63,072 388 CFD 2007-6 Holiday Inn Debt Service Fund 3,764 389 CFD 88-3 (2008A) West Lake Elsinore Debt Service Fund 25,368 390 CFD 2003-2 Area C Canyon Hills Debt Service Fund 30,516 392 CFD 95-1 City Center Debt Service Fund 20,412 393 AD 93-1 Debt Service Fund 23,524 394 CFD 2005-5 (2012A) Wasson Canyon Debt Service Fund 25,050 520 Successor Agency RDA Area II 2,011,817 530 Successor Agency RDA Area III 1,031,351 540 Successor Area RDA Diamond Stadium 2,611,589 604 Endowment Trust Fund 31,388 605 Public Improvement Trust Fund 866,721 606 Mobile Source Air Polution Reduction Fund 258,674 608 Trust Deposit & Pre Paid Expense Fund 5,846,622 617 Successor Agency Housing Fund 12,144,468 620 Cost Recovery System Fund 2,892,439 631 Lake Destratification Equipment Replacement Fund 214,069 731 LEPFA 2011 Series B 2 734 LEPFA 2013 Series C 409,888 736 LEPFA 2013 Series A 20 780 LEPFA General 93,578 Total Pooled Cash & Investments 58,892,827$ DIVERSIFICATION MAXIMUM TYPES OF SECURITIES PERCENTAGE PERCENTAGE U.S. Treasury Bills 0.00%Unlimited U.S. Treasury Bond / Note 25.01%Unlimited Current Balance 13,826,418$ Municipal Bond / Note 0.63%Unlimited Current Balance 350,632$ Federal Agency Collaterized Mortgage Obligation 1.31%40.00% Current Balance 722,154$ Federal Agency Bond / Note 21.26%*Unlimited Current Balance 11,752,822$ Banker's Acceptance 0.00%40.00% Certificates of Deposit 8.82%25.00% Current Balance 4,874,552$ Negotiable Certificates of Deposit 0.00%30.00% Commercial Paper 0.00%25.00% Corporate Note 16.01%30.00% Current Balance 8,849,429$ Repurchase Agreements 0.00%Unlimited Reverse Repurchase Agreements 0.00%20.00% LAIF (Local Agency Investment Fund)26.86%*$65 Million Current Balance 14,847,607$ CAMP - Pooled Sweep Account 0.11%Unlimited Current Balance 58,255$ TOTAL 100.00%*55,281,869$ Note: Local agencies are only eligible to purchase medium term corporate notes that have a rating of "A" or better by both Moody's Investors Service, Inc., and Standard and Poor's Corporation (S & P). If a security falls below "A" by both rating agencies, then PFM Asset Management LLC will evaluate the need to sell the security prior to maturity. The CAMP Portfolio Summary and Statistics shows the credit quality held by the City's investments. *No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies. *Investment in LAIF may not exceed $65 million in each agency. *Totals include the City, Housing, and Successor Agency CAMP Portfolios. FOR THE MONTH ENDING DECEMBER 31, 2016 SUMMARY OF POLICY LIMITATIONS C I T Y O F L A K E E L S I N O R E Local Agency Investment Fund Yield Purchase Date Maturity Rate 0.719%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 13,619,815$ (3,100,000)$ 10,519,815$ City for the PFA 330,938$ -$ 330,938$ Successor Agency 3,996,855$ -$ 3,996,855$ Total Investments Held with Local Agency Investment Fund:17,947,607$ (3,100,000)$ 14,847,607$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING DECEMBER 31, 2016 JOHN CHIANG TREASURER STATE OF CALIFORNIA 12/12/16 0.71 0.67 181 12/13/16 0.71 0.67 182 12/14/16 0.72 0.67 181 12/15/16 0.72 0.68 181 12/16/16 0.72 0.68 184 12/17/16 0.72 0.68 184 12/18/16 0.72 0.68 184 12/19/16 0.72 0.68 179 12/20/16 0.72 0.68 180 12/21/16 0.72 0.68 179 12/22/16 0.73 0.68 179 12/23/16 0.73 0.68 185 12/24/16 0.73 0.68 185 Dec 2016 0.719% 12/25/16 0.73 0.68 185 Nov 2016 0.678% 12/26/16 0.73 0.68 185 Oct 2016 0.654% 12/27/16 0.73 0.68 180 12/28/16 0.73 0.68 173 12/29/16 0.73 0.68 176 12/30/16 0.74 0.68 172 12/31/16 0.74 0.68 171 01/01/17 0.74 0.74 171 01/02/17 0.74 0.74 171 01/03/17 0.74 0.74 181 01/04/17 0.74 0.74 184 01/05/17 0.75 0.74 186 01/06/17 0.75 0.74 186 01/07/17 0.75 0.74 186 01/08/17 0.75 0.74 186 01/09/17 0.75 0.74 185 01/10/17 0.75 0.74 185 01/11/17 0.75 0.74 187 1/11/2017 .00001651908048883 1.000306032 Earnings Ratio: Fair Value Factor: Daily:0.65% PMIA Performance Report LAIF Performance Report Date Daily Yield* Quarter to Date Yield Average Maturity (in days)Apportionment Rate:0.60% Quarter Ending 09/30/16 Based on data available as of Quarter to Date: Average Life: View Prior Month Daily Rates PMIA Average Monthly Effective YieldsEffective Yields 0.61% *Daily yield does not reflect capital gains or losses 165 Treasuries 45.04% Mortgages 0.07% Agencies 11.75% Certificates of Deposit/Bank Notes 15.70% Time Deposits 7.44% Commercial Paper 10.71% Loans 9.29% Pooled Money Investment Account Portfolio Composition 11/30/16 $70.4 billion City Funds CAMP Account For the Month Ending December 31, 2016Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Opening Market Value Purchases Redemptions Change in Value Closing Market Value 78,734.21 2,509,930.83 (2,560,610.13) 0.00 $28,054.91 CAMP Pool Unsettled Trades 0.00 17.18 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 29,718,792.28 2,552,579.47 (2,492,954.84) (11,591.37) $29,766,825.54 CAMP Managed Account Unsettled Trades 0.00 34,270.87 Cash Dividends and Income December 31, 2016 November 30, 2016 Asset Summary CAMP Pool 28,054.91 78,734.21 CAMP Managed Account 29,766,825.54 29,718,792.28 $29,794,880.45 $29,797,526.49 Total Asset Allocation 0.09% CAMP Pool 99.91% CAMP Managed Account Page 1 For the Month Ending December 31, 2016Managed Account Summary Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dividend Closing Market Value Redemptions Purchases Opening Market Value Closing Market Value Change in Current Value Unsettled Trades Principal Acquisitions Principal Dispositions Maturities/Calls Opening Market Value Closing Market Value Opening Market Value Account Total Total Cash Basis Earnings Plus Net Realized Gains/Losses Less Purchased Interest Related to Interest/Coupons Interest/Dividends/Coupons Received Earnings Reconciliation (Cash Basis) - Managed Account Dividends Less Beginning Accrued Interest Less Beginning Amortized Value of Securities Less Cost of New Purchases Plus Coupons/Dividends Received Plus Proceeds of Maturities/Calls/Principal Payments Plus Proceeds from Sales Ending Accrued Interest Ending Amortized Value of Securities Earnings Reconciliation (Accrual Basis) Reconciling Transactions Net Cash Contribution Security Purchases Principal Payments Coupon/Interest/Dividend Income Sale Proceeds Maturities/Calls Cash Transactions Summary- Managed Account $78,734.21 2,509,930.83 (2,560,610.13) $28,054.91 17.18 $29,718,792.28 0.00 (2,492,954.84) 2,552,579.47 0.00 (11,591.37) $29,766,825.54 $29,797,526.49 $29,794,880.45 28,246.63 (5,436.46) 11,460.70 $34,270.87 0.00 2,494,468.62 26,732.85 0.00 (2,558,015.93) 36,814.46 0.00 Managed Account Total 29,953,454.13 29,981,509.04 122,206.59 2,494,468.62 0.00 26,732.85 (2,558,015.93) (29,895,467.80) (104,575.07) 0.00 122,206.59 5,055,078.75 0.00 26,732.85 (5,067,946.76) (29,974,202.01) (104,575.07) 17.18 Total Accrual Basis Earnings $38,803.39 $38,820.57 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending December 31, 2016Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 10,260,000.00 10,293,626.90 34.55 Municipal Bond / Note 290,000.00 291,482.15 0.98 Federal Agency Collateralized Mortgage Obligation 525,000.00 525,203.94 1.76 Federal Agency Bond / Note 8,295,000.00 8,202,579.64 27.53 Corporate Note 6,325,000.00 6,369,099.89 21.38 Certificate of Deposit 4,075,000.00 4,084,833.02 13.71 Managed Account Sub-Total 29,770,000.00 29,766,825.54 99.91% Accrued Interest 122,206.59 Total Portfolio 29,770,000.00 29,889,032.13 CAMP Pool 28,054.91 28,054.91 0.09 Total Investments 29,798,054.91 29,917,087.04 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 13.71% Cert of Deposit 21.38% Corporate Note 1.76% Fed Agency CMO 27.53% Fed Agy Bond / Note 0.09% Mny Mkt Fund 0.98% Muni Bond / Note 34.55% US TSY Bond / Note 0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years 4.54% 6.88% 18.68% 28.15% 19.57% 22.18% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Duration to Worst Weighted Average Days to Maturity 2.62 993 1.44% 1.60% Page 3 For the Month Ending December 31, 2016Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Credit Quality (S&P Ratings) 3.30% A 8.18% A+ 3.10% A- 1.93% A-1 1.93% A-1+ 1.77% AA 64.88% AA+ 13.47% AA- 0.09% AAAm 1.35% BBB+ Issuer Summary Percentof HoldingsIssuer Market Value 197,616.80 0.66 AMERICAN EXPRESS CO 580,598.78 1.95 AMERICAN HONDA FINANCE 308,837.50 1.04 APPLE INC 300,333.60 1.01 BANK OF NEW YORK CO INC 575,506.00 1.93 BANK OF NOVA SCOTIA 147,217.35 0.49 BB&T CORPORTATION 400,806.40 1.35 BERKSHIRE HATHAWAY INC 161,315.10 0.54 BURLINGTON NORTHERN SANTA FE 28,054.91 0.09 CAMP Pool 579,640.25 1.95 CANADIAN IMPERIAL BANK OF COMMERCE 765,612.78 2.57 CHEVRON CORP 577,511.46 1.94 CISCO SYSTEMS INC 104,603.63 0.35 CITIGROUP INC 4,510,662.20 15.13 FANNIE MAE 3,419,318.87 11.48 FEDERAL HOME LOAN BANKS 797,802.51 2.68 FREDDIE MAC 273,924.00 0.92 GENERAL ELECTRIC CO 298,808.40 1.00 GOLDMAN SACHS GROUP INC 575,089.13 1.93 HSBC HOLDINGS PLC 249,705.25 0.84 IBM CORP 580,200.30 1.95 JP MORGAN CHASE & CO 579,640.25 1.95 NORDEA BANK AB 575,652.63 1.93 ROYAL BANK OF CANADA 574,025.38 1.93 SKANDINAVISKA ENSKIDA BANKEN AB 165,447.15 0.56 STATE OF CONNECTICUT 73,494.08 0.25 STATE STREET CORPORATION 625,279.38 2.10 TORONTO-DOMINION BANK 199,643.20 0.67 TOYOTA MOTOR CORP 10,293,626.90 34.54 UNITED STATES TREASURY 126,035.00 0.42 UNIVERSITY OF CALIFORNIA 700,997.50 2.35 US BANCORP 447,873.76 1.50 WELLS FARGO & COMPANY Page 4 For the Month Ending December 31, 2016Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS $29,794,880.45 Total 100.00% Page 5 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 04/15/2015 0.750% 04/15/2018 294,089.63 294,675.38 474.11 294,504.49 04/27/1604/22/16AaaAA+ 295,000.00 912828K25 0.84 US TREASURY NOTES DTD 04/30/2014 1.625% 04/30/2019 372,890.44 374,789.08 1,029.77 375,058.59 11/14/1611/10/16AaaAA+ 370,000.00 912828D23 1.06 US TREASURY NOTES DTD 06/02/2014 1.500% 05/31/2019 381,751.42 383,944.18 501.10 384,156.25 11/14/1611/10/16AaaAA+ 380,000.00 912828WL0 1.06 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 306,270.39 306,089.77 272.53 304,017.97 05/29/1505/28/15AaaAA+ 310,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 545,617.05 546,322.46 2,335.98 544,822.27 09/03/1509/02/15AaaAA+ 550,000.00 912828UQ1 1.47 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 1,140,835.65 1,139,367.43 4,884.32 1,135,625.00 11/09/1511/05/15AaaAA+ 1,150,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 582,434.75 583,415.44 4,812.50 585,848.63 12/04/1512/01/15AaaAA+ 575,000.00 912828VP2 1.58 US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 1,066,980.60 1,064,378.36 7,581.32 1,068,169.92 12/30/1512/28/15AaaAA+ 1,050,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 841,673.28 852,645.60 2,517.68 855,553.13 02/03/1602/01/16AaaAA+ 840,000.00 912828WC0 1.35 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 151,552.80 153,555.52 263.74 154,283.20 03/04/1603/02/16AaaAA+ 150,000.00 912828A42 1.38 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 384,155.25 390,931.18 24.60 393,837.89 03/31/1603/30/16AaaAA+ 375,000.00 912828A83 1.28 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 799,750.40 812,563.54 38.67 814,343.75 05/31/1605/27/16AaaAA+ 800,000.00 912828N48 1.35 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 579,582.18 600,233.79 3,907.46 603,121.09 07/08/1607/06/16AaaAA+ 575,000.00 912828B90 0.92 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 283,305.06 293,306.00 926.17 293,692.97 06/29/1606/27/16AaaAA+ 290,000.00 912828Q37 0.98 Page 6 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 1,207,359.60 1,240,201.28 2,109.89 1,243,125.00 09/02/1609/01/16AaaAA+ 1,200,000.00 912828WN6 1.22 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 326,294.80 336,612.46 2,208.56 337,200.20 10/05/1610/03/16AaaAA+ 325,000.00 912828D72 1.21 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1,029,083.60 1,028,000.80 6,965.47 1,028,042.97 12/05/1612/01/16AaaAA+ 1,025,000.00 912828D72 1.93 40,853.87 10,293,626.90 10,401,032.27 1.40 10,415,403.32 10,260,000.00 Security Type Sub-Total Municipal Bond / Note UNIV OF CAL TXBL REV BONDS DTD 04/10/2014 1.904% 05/15/2018 126,035.00 125,000.00 304.11 125,000.00 04/10/1404/04/14Aa2AA 125,000.00 91412GUV5 1.90 CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 165,447.15 165,261.44 959.04 165,463.65 03/25/1503/16/15Aa3AA- 165,000.00 20772JZK1 1.90 1,263.15 291,482.15 290,261.44 1.90 290,463.65 290,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 135,077.41 135,458.54 174.38 136,349.51 04/30/1504/15/15AaaAA+ 135,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 125,445.03 125,732.28 197.74 126,249.99 11/30/1511/06/15AaaAA+ 125,000.00 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 264,681.50 266,733.03 363.49 267,653.68 10/30/1510/07/15AaaAA+ 265,000.00 3136AQDQ0 1.08 735.61 525,203.94 527,923.85 1.05 530,253.18 525,000.00 Security Type Sub-Total Federal Agency Bond / Note FHLB NOTES DTD 07/08/2016 0.625% 08/07/2018 892,846.80 897,269.95 2,250.00 896,616.00 08/12/1608/11/16AaaAA+ 900,000.00 3130A8PK3 0.82 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 352,638.30 350,005.14 537.15 350,010.50 06/19/1406/16/14AaaAA+ 350,000.00 3135G0YT4 1.62 Page 7 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 629,711.25 627,805.98 959.20 630,937.50 10/23/1410/22/14AaaAA+ 625,000.00 3135G0YT4 1.39 FHLB NOTES DTD 12/08/2016 1.250% 01/16/2019 374,869.13 374,985.00 299.48 374,985.00 12/08/1612/07/16AaaAA+ 375,000.00 3130AAE46 1.25 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 720,492.68 723,770.02 2,517.36 723,289.00 02/23/1602/19/16AaaAA+ 725,000.00 3135G0J53 1.08 FREDDIE MAC NOTES DTD 03/21/2016 1.125% 04/15/2019 373,482.38 376,941.62 890.63 377,257.50 08/15/1608/12/16AaaAA+ 375,000.00 3137EADZ9 0.90 FHLMC REFERENCE NOTE DTD 07/20/2016 0.875% 07/19/2019 424,320.13 429,112.80 1,682.67 428,959.40 07/20/1607/19/16AaaAA+ 430,000.00 3137EAEB1 0.96 FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 714,929.03 723,948.09 2,625.61 723,782.00 08/02/1607/29/16AaaAA+ 725,000.00 3135G0N33 0.93 FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 714,739.08 723,795.11 2,590.36 723,608.00 08/04/1608/03/16AaaAA+ 725,000.00 3130A8Y72 0.94 FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 593,334.60 599,166.07 1,983.33 599,064.00 09/02/1608/31/16AaaAA+ 600,000.00 3135G0P49 1.05 FANNIE MAE GLOBAL NOTES DTD 10/25/2016 1.000% 10/24/2019 394,470.40 398,992.67 733.33 398,928.00 10/25/1610/21/16AaaAA+ 400,000.00 3135G0R39 1.09 FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 737,050.36 739,836.59 1,243.61 739,829.80 11/17/1611/16/16AaaAA+ 740,000.00 3130AA3R7 1.38 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 699,813.50 720,986.83 3,783.59 720,591.28 07/15/1607/14/16AaaAA+ 725,000.00 3130A8QS5 1.25 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 135,305.80 139,555.17 641.67 139,521.06 08/19/1608/17/16AaaAA+ 140,000.00 3135G0N82 1.32 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 444,576.20 458,269.65 2,108.33 458,137.00 08/19/1608/17/16AaaAA+ 460,000.00 3135G0N82 1.33 24,846.32 8,202,579.64 8,284,440.69 1.12 8,285,516.04 8,295,000.00 Security Type Sub-Total Page 8 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 700,997.50 700,000.00 1,475.83 714,952.00 07/30/1207/25/12A1A+ 700,000.00 91159HHD5 1.19 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 149,661.00 150,000.00 119.60 150,000.00 12/05/1211/28/12Aa2AA- 150,000.00 166764AA8 1.10 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 174,604.50 175,166.10 139.53 175,946.75 12/05/1211/29/12Aa2AA- 175,000.00 166764AA8 0.99 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 249,705.25 249,740.89 1,241.32 248,855.00 02/08/1302/05/13Aa3AA- 250,000.00 459200HK0 1.35 BERKSHIRE HATHAWAY GLOBAL NOTE DTD 02/11/2013 1.550% 02/09/2018 400,806.40 399,873.14 2,445.56 399,444.00 02/11/1301/29/13Aa2AA 400,000.00 084670BH0 1.58 APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 308,837.50 309,687.72 499.44 308,856.10 05/03/1304/30/13Aa1AA+ 310,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 441,347.28 440,000.00 146.98 440,000.00 06/24/1306/17/13Aa2AA- 440,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 273,558.06 271,264.36 1,912.50 272,565.00 09/04/1408/29/14A1AA- 270,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 303,953.40 301,768.99 2,125.00 302,817.00 09/04/1509/01/15A1AA- 300,000.00 17275RAR3 1.85 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 49,801.40 49,891.93 183.33 49,861.00 04/25/1604/20/16A3BBB+ 50,000.00 38141GVT8 2.10 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 249,007.00 249,875.57 916.67 249,840.00 04/26/1604/21/16A3BBB+ 250,000.00 38141GVT8 2.02 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 104,603.63 104,955.33 143.50 104,945.40 06/09/1606/02/16Baa1BBB+ 105,000.00 172967KS9 2.07 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 580,598.78 574,417.54 4,887.50 573,936.25 09/09/1409/04/14A1A+ 575,000.00 02665WAH4 2.29 Page 9 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 161,315.10 162,986.77 1,762.50 165,585.00 06/08/1606/03/16A3A 150,000.00 12189TBC7 1.48 GENERAL ELECTRIC CAP CORP NOTES DTD 01/08/2010 5.500% 01/08/2020 273,924.00 275,103.87 6,607.64 289,082.50 03/25/1503/20/15A1AA- 250,000.00 36962G4J0 2.05 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 74,645.63 75,187.06 676.35 75,288.00 03/27/1503/24/15A2A 75,000.00 94974BGF1 2.07 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 373,228.13 376,649.99 3,381.77 377,621.25 02/05/1502/02/15A2A 375,000.00 94974BGF1 2.00 TOYOTA MOTOR CORP NOTES DTD 03/12/2015 2.150% 03/12/2020 199,643.20 201,165.10 1,301.94 201,776.00 03/27/1503/23/15Aa3AA- 200,000.00 89236TCF0 1.96 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 580,200.30 577,101.67 351.39 577,857.75 09/04/1509/01/15A3A- 575,000.00 46625HLW8 2.64 BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 300,333.60 306,139.46 1,583.33 306,978.00 05/19/1605/16/16A1A 300,000.00 06406FAA1 2.00 AMERICAN EXPRESS CREDIT CORP NOTES DTD 05/05/2016 2.250% 05/05/2021 197,616.80 199,589.70 700.00 199,536.00 05/31/1605/25/16A2A- 200,000.00 0258M0EB1 2.30 BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 147,217.35 149,913.10 435.63 149,901.00 05/16/1605/10/16A2A- 150,000.00 05531FAV5 2.06 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 73,494.08 74,749.39 170.63 74,716.50 05/24/1605/19/16A1A 75,000.00 857477AV5 2.03 33,207.94 6,369,099.89 6,375,227.68 1.82 6,410,360.50 6,325,000.00 Security Type Sub-Total Certificate of Deposit TORONTO DOMINION BANK NY YCD DTD 06/19/2015 1.240% 06/16/2017 625,279.38 625,000.00 4,197.92 625,000.00 06/19/1506/16/15Aa1AA- 625,000.00 89113ESN7 1.25 BANK OF NOVA SCOTIA HOUSTON YCD DTD 11/09/2015 1.560% 11/06/2017 575,506.00 575,000.00 1,370.42 575,000.00 11/09/1511/06/15Aa3A+ 575,000.00 06417GAS7 1.55 Page 10 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Certificate of Deposit SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 574,025.38 575,000.00 1,087.39 575,000.00 11/17/1511/16/15P-1A-1 575,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 575,089.13 575,000.00 10,084.86 575,000.00 11/18/1511/17/15P-1A-1+ 575,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 575,652.63 575,000.00 3,041.11 575,000.00 03/15/1603/11/16Aa3AA- 575,000.00 78009NZZ2 1.69 CANADIAN IMPERIAL BANK NY CD DTD 12/05/2016 1.760% 11/30/2018 579,640.25 574,568.20 759.00 574,551.50 12/05/1612/01/16Aa3A+ 575,000.00 13606A5Z7 1.78 NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 579,640.25 575,000.00 759.00 575,000.00 12/05/1612/01/16Aa3AA- 575,000.00 65558LWA6 1.74 21,299.70 4,084,833.02 4,074,568.20 1.57 4,074,551.50 4,075,000.00 Security Type Sub-Total 29,770,000.00 30,006,548.19 1.44 122,206.59 29,953,454.13 29,766,825.54 Managed Account Sub-Total Money Market Fund CAMP Pool 28,054.91 28,054.91 0.00 28,054.91 NRAAAm 28,054.91 28,054.91 28,054.91 0.00 28,054.91 28,054.91 Money Market Sub-Total $29,798,054.91 $30,034,603.10 $122,206.59 $29,981,509.04 $29,794,880.45 1.44% $29,917,087.04 $122,206.59 Total Investments Accrued Interest Securities Sub-Total Page 11 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/Description Next Call Market YTMEffective Duration U.S. Treasury Bond / Note 1.28 (585.75)(414.86) 294,089.63 99.69 MORGANST 295,000.00 912828K25US TREASURY NOTES DTD 04/15/2015 0.750% 04/15/2018 0.99 1.28 2.28 (1,898.64)(2,168.15) 372,890.44 100.78 CITIGRP 370,000.00 912828D23US TREASURY NOTES DTD 04/30/2014 1.625% 04/30/2019 1.28 2.28 2.36 (2,192.76)(2,404.83) 381,751.42 100.46 MORGANST 380,000.00 912828WL0US TREASURY NOTES DTD 06/02/2014 1.500% 05/31/2019 1.31 2.36 2.86 180.62 2,252.42 306,270.39 98.80 CITIGRP 310,000.00 912828UB4US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 1.42 2.86 3.07 (705.41) 794.78 545,617.05 99.20 MERRILL 550,000.00 912828UQ1US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 1.51 3.07 3.07 1,468.22 5,210.65 1,140,835.65 99.20 CITIGRP 1,150,000.00 912828UQ1US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 1.51 3.07 3.42 (980.69)(3,413.88) 582,434.75 101.29 MERRILL 575,000.00 912828VP2US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 1.63 3.42 3.49 2,602.24 (1,189.32) 1,066,980.60 101.62 MORGANST 1,050,000.00 912828VV9US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 1.67 3.49 3.68 (10,972.32)(13,879.85) 841,673.28 100.20 MERRILL 840,000.00 912828WC0US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 1.70 3.68 3.75 (2,002.72)(2,730.40) 151,552.80 101.04 MERRILL 150,000.00 912828A42US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 1.73 3.75 3.81 (6,775.93)(9,682.64) 384,155.25 102.44 MERRILL 375,000.00 912828A83US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 1.74 3.81 3.85 (12,813.14)(14,593.35) 799,750.40 99.97 MORGANST 800,000.00 912828N48US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 1.76 3.85 3.95 (20,651.61)(23,538.91) 579,582.18 100.80 MORGANST 575,000.00 912828B90US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 1.80 3.95 4.10 (10,000.94)(10,387.91) 283,305.06 97.69 CITIGRP 290,000.00 912828Q37US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 1.82 4.10 4.20 (32,841.68)(35,765.40) 1,207,359.60 100.61 HSBC 1,200,000.00 912828WN6US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 1.85 4.20 4.40 (10,317.66)(10,905.40) 326,294.80 100.40 HSBC 325,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1.91 4.40 4.40 1,082.80 1,040.63 1,029,083.60 100.40 HSBC 1,025,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1.91 4.40 Page 12 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/Description Next Call Market YTMEffective Duration (121,776.42) 1.66 3.56 (107,405.37) 10,293,626.90 10,260,000.00 Security Type Sub-Total 3.56 Municipal Bond / Note 1.35 1,035.00 1,035.00 126,035.00 100.83 GOLDMAN 125,000.00 91412GUV5UNIV OF CAL TXBL REV BONDS DTD 04/10/2014 1.904% 05/15/2018 1.29 1.35 2.14 185.71 (16.50) 165,447.15 100.27 VINING 165,000.00 20772JZK1CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 1.85 2.14 1,018.50 1.61 1.80 1,220.71 291,482.15 290,000.00 Security Type Sub-Total 1.80 Federal Agency Collateralized Mortgage Obligation 1.08 (381.13)(1,272.10) 135,077.41 100.06 GOLDMAN 135,000.00 3136ANJY4FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 1.40 1.09 1.79 (287.25)(804.96) 125,445.03 100.36 GOLDMAN 125,000.00 3136AQSW1FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 1.63 1.32 2.45 (2,051.53)(2,972.18) 264,681.50 99.88 MORGANST 265,000.00 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 1.65 1.67 (5,049.24) 1.58 1.94 (2,719.91) 525,203.94 525,000.00 Security Type Sub-Total 1.44 Federal Agency Bond / Note 1.58 (4,423.15)(3,769.20) 892,846.80 99.21 CITIGRP 900,000.00 3130A8PK3FHLB NOTES DTD 07/08/2016 0.625% 08/07/2018 1.13 1.58 1.87 2,633.16 2,627.80 352,638.30 100.75 HSBC 350,000.00 3135G0YT4FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 1.22 1.87 1.87 1,905.27 (1,226.25) 629,711.25 100.75 GOLDMAN 625,000.00 3135G0YT4FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 1.22 1.87 2.01 (115.87)(115.87) 374,869.13 99.97 BAML 375,000.00 3130AAE46FHLB NOTES DTD 12/08/2016 1.250% 01/16/2019 1.27 2.01 2.11 (3,277.34)(2,796.32) 720,492.68 99.38 JPMCHASE 725,000.00 3135G0J53FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 1.29 2.11 2.25 (3,459.24)(3,775.12) 373,482.38 99.60 TD SEC U 375,000.00 3137EADZ9FREDDIE MAC NOTES DTD 03/21/2016 1.125% 04/15/2019 1.30 2.25 2.50 (4,792.67)(4,639.27) 424,320.13 98.68 TD SEC U 430,000.00 3137EAEB1FHLMC REFERENCE NOTE DTD 07/20/2016 0.875% 07/19/2019 1.40 2.50 Page 13 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/Description Next Call Market YTMEffective Duration Federal Agency Bond / Note 2.54 (9,019.06)(8,852.97) 714,929.03 98.61 GOLDMAN 725,000.00 3135G0N33FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 1.42 2.54 2.54 (9,056.03)(8,868.92) 714,739.08 98.58 WELLSFAR 725,000.00 3130A8Y72FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 1.43 2.54 2.60 (5,831.47)(5,729.40) 593,334.60 98.89 GOLDMAN 600,000.00 3135G0P49FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 1.43 2.60 2.76 (4,522.27)(4,457.60) 394,470.40 98.62 BARCLAYS 400,000.00 3135G0R39FANNIE MAE GLOBAL NOTES DTD 10/25/2016 1.000% 10/24/2019 1.50 2.76 2.80 (2,786.23)(2,779.44) 737,050.36 99.60 MERRILL 740,000.00 3130AA3R7FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 1.52 2.80 4.37 (21,173.33)(20,777.78) 699,813.50 96.53 TD SEC U 725,000.00 3130A8QS5FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 1.93 4.37 4.44 (4,249.37)(4,215.26) 135,305.80 96.65 TD SEC U 140,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.01 4.44 4.44 (13,693.45)(13,560.80) 444,576.20 96.65 CITIGRP 460,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.01 4.44 (82,936.40) 1.44 2.61 (81,861.05) 8,202,579.64 8,295,000.00 Security Type Sub-Total 2.61 Corporate Note 0.29 997.50 (13,954.50) 700,997.50 100.14 04/15/17BARCLAYS 700,000.00 91159HHD5US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 1.25 0.28 0.92 (339.00)(339.00) 149,661.00 99.77 11/05/17MORGANST 150,000.00 166764AA8CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 1.35 0.90 0.92 (561.60)(1,342.25) 174,604.50 99.77 11/05/17BARCLAYS 175,000.00 166764AA8CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 1.35 0.90 1.09 (35.64) 850.25 249,705.25 99.88 HSBC 250,000.00 459200HK0IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 1.36 1.09 1.09 933.26 1,362.40 400,806.40 100.20 GOLDMAN 400,000.00 084670BH0BERKSHIRE HATHAWAY GLOBAL NOTE DTD 02/11/2013 1.550% 02/09/2018 1.37 1.09 1.32 (850.22)(18.60) 308,837.50 99.63 GOLDMAN 310,000.00 037833AJ9APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 1.28 1.32 Page 14 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/Description Next Call Market YTMEffective Duration Corporate Note 1.46 1,347.28 1,347.28 441,347.28 100.31 BARCLAYS 440,000.00 166764AE0CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 1.51 1.46 2.10 2,293.70 993.06 273,558.06 101.32 BONY 270,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.50 2.10 2.10 2,184.41 1,136.40 303,953.40 101.32 BNP PARI 300,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.50 2.10 2.24 (90.53)(59.60) 49,801.40 99.60 03/25/19GOLDMAN 50,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 2.18 2.22 2.24 (868.57)(833.00) 249,007.00 99.60 03/25/19MIZUHO 250,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 2.18 2.22 2.36 (351.70)(341.77) 104,603.63 99.62 CITIGRP 105,000.00 172967KS9CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 2.21 2.36 2.52 6,181.24 6,662.53 580,598.78 100.97 MERRILL 575,000.00 02665WAH4AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 1.87 2.52 2.57 (1,671.67)(4,269.90) 161,315.10 107.54 GOLDMAN 150,000.00 12189TBC7BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 1.87 2.57 2.74 (1,179.87)(15,158.50) 273,924.00 109.57 GOLDMAN 250,000.00 36962G4J0GENERAL ELECTRIC CAP CORP NOTES DTD 01/08/2010 5.500% 01/08/2020 2.21 2.74 2.94 (541.43)(642.37) 74,645.63 99.53 1ST TENN 75,000.00 94974BGF1WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 2.31 2.94 2.94 (3,421.86)(4,393.12) 373,228.13 99.53 JEFFERIE 375,000.00 94974BGF1WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 2.31 2.94 3.05 (1,521.90)(2,132.80) 199,643.20 99.82 HSBC 200,000.00 89236TCF0TOYOTA MOTOR CORP NOTES DTD 03/12/2015 2.150% 03/12/2020 2.21 3.05 3.22 3,098.63 2,342.55 580,200.30 100.90 05/23/20JPMCHASE 575,000.00 46625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 2.48 3.28 4.02 (5,805.86)(6,644.40) 300,333.60 100.11 KEYBAN 300,000.00 06406FAA1BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 2.47 4.02 4.10 (1,972.90)(1,919.20) 197,616.80 98.81 KEYBAN 200,000.00 0258M0EB1AMERICAN EXPRESS CREDIT CORP NOTES DTD 05/05/2016 2.250% 05/05/2021 2.54 4.10 Page 15 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/Description Next Call Market YTMEffective Duration Corporate Note 4.13 (2,695.75)(2,683.65) 147,217.35 98.14 SCOTIA 150,000.00 05531FAV5BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 2.50 4.13 4.16 (1,255.31)(1,222.42) 73,494.08 97.99 GOLDMAN 75,000.00 857477AV5STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 2.44 4.16 (41,260.61) 1.84 2.16 (6,127.79) 6,369,099.89 6,325,000.00 Security Type Sub-Total 2.16 Certificate of Deposit 0.46 279.38 279.38 625,279.38 100.04 TD SEC U 625,000.00 89113ESN7TORONTO DOMINION BANK NY YCD DTD 06/19/2015 1.240% 06/16/2017 1.14 0.46 0.84 506.00 506.00 575,506.00 100.09 UBS AG 575,000.00 06417GAS7BANK OF NOVA SCOTIA HOUSTON YCD DTD 11/09/2015 1.560% 11/06/2017 1.43 0.84 0.86 (974.62)(974.62) 574,025.38 99.83 GOLDMAN 575,000.00 83050FBG5SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 1.65 0.86 0.87 89.13 89.13 575,089.13 100.02 HSBC 575,000.00 40428AR58HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 1.51 0.87 1.18 652.63 652.63 575,652.63 100.11 RBC CAP 575,000.00 78009NZZ2ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 1.57 1.18 1.90 5,072.05 5,088.75 579,640.25 100.81 GOLDMAN 575,000.00 13606A5Z7CANADIAN IMPERIAL BANK NY CD DTD 12/05/2016 1.760% 11/30/2018 1.25 1.90 1.90 4,640.25 4,640.25 579,640.25 100.81 MERRILL 575,000.00 65558LWA6NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 1.25 1.90 10,281.52 1.40 1.14 10,264.82 4,084,833.02 4,075,000.00 Security Type Sub-Total 1.14 29,770,000.00 29,766,825.54 (239,722.65) (186,628.59) 2.62 1.60 Managed Account Sub-Total 2.61 Money Market Fund 0.00 0.00 0.00 28,054.91 1.00 28,054.91 CAMP Pool 0.00 28,054.91 28,054.91 0.00 0.00 0.00 Money Market Sub-Total 0.00 Page 16 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Investments $29,917,087.04 $122,206.59 $29,794,880.45 Accrued Interest Securities Sub-Total $29,798,054.91 ($239,722.65) ($186,628.59) 2.62 1.60% 2.61 Page 17 For the Month Ending December 31, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method BUY 12/05/16 CANADIAN IMPERIAL BANK NY CD DTD 12/05/2016 1.760% 11/30/2018 13606A5Z7 (574,551.50) 0.00 (574,551.50) 575,000.00 12/01/16 12/05/16 NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 65558LWA6 (575,000.00) 0.00 (575,000.00) 575,000.00 12/01/16 12/05/16 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 912828D72 (1,028,042.97)(5,436.46)(1,033,479.43) 1,025,000.00 12/01/16 12/08/16 FHLB NOTES DTD 12/08/2016 1.250% 01/16/2019 3130AAE46 (374,985.00) 0.00 (374,985.00) 375,000.00 12/07/16 (5,436.46) (2,558,015.93)(2,552,579.47) 2,550,000.00 Transaction Type Sub-Total INTEREST 12/25/16 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 0.00 174.38 174.38 135,000.00 12/01/16 12/25/16 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 0.00 197.72 197.72 125,000.00 12/01/16 12/25/16 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 0.00 363.49 363.49 265,000.00 12/01/16 12/05/16 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 166764AA8 0.00 966.00 966.00 175,000.00 12/05/16 12/05/16 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 166764AA8 0.00 828.00 828.00 150,000.00 12/05/16 12/07/16 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 172967KS9 0.00 1,064.29 1,064.29 105,000.00 12/07/16 12/23/16 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 46625HLW8 0.00 7,906.25 7,906.25 575,000.00 12/23/16 12/24/16 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 166764AE0 0.00 3,779.60 3,779.60 440,000.00 12/24/16 12/31/16 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 912828N48 0.00 7,000.00 7,000.00 800,000.00 12/31/16 12/31/16 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 912828A83 0.00 4,453.12 4,453.12 375,000.00 12/31/16 Page 18 For the Month Ending December 31, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method 26,732.85 26,732.85 0.00 3,145,000.00 Transaction Type Sub-Total SELL 12/05/16 NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 65558LFA5 575,117.51 128.58 575,246.09 117.51 117.51 SPEC LOT 575,000.00 12/01/16 12/05/16 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 3135G0WJ8 573,160.00 195.66 573,355.66 3,018.75 (391.55)SPEC LOT 575,000.00 12/01/16 12/05/16 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 3135G0WJ8 398,720.00 136.11 398,856.11 4,780.00 537.78 SPEC LOT 400,000.00 12/01/16 12/05/16 CANADIAN IMPERIAL BANK NY YCD DTD 04/10/2015 1.010% 04/06/2017 13606JYY9 574,902.25 951.78 575,854.03 (97.75)(97.75)SPEC LOT 575,000.00 12/01/16 12/08/16 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 912828A34 371,055.08 101.65 371,156.73 3,642.19 2,214.40 FIFO 370,000.00 12/07/16 1,513.78 2,380.39 11,460.70 2,494,468.62 2,492,954.84 2,495,000.00 Transaction Type Sub-Total (59,624.63) 22,810.17 (36,814.46) 11,460.70 2,380.39 Managed Account Sub-Total Total Security Transactions $11,460.70 ($36,814.46)$22,810.17 ($59,624.63)$2,380.39 Page 19 For the Month Ending December 31, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 78,734.21 Opening Balance 12/05/16 12/05/16 Purchase - Interest 166764AA8 1.00 828.00 79,562.21 12/05/16 12/05/16 Purchase - Interest 166764AA8 1.00 966.00 80,528.21 12/05/16 12/05/16 Purchase - Interest 3135G0WJ8 1.00 136.11 80,664.32 12/05/16 12/05/16 Purchase - Interest 3135G0WJ8 1.00 195.66 80,859.98 12/05/16 12/05/16 Purchase - Principal 3135G0WJ8 1.00 398,720.00 479,579.98 12/05/16 12/05/16 Purchase - Principal 3135G0WJ8 1.00 573,160.00 1,052,739.98 12/05/16 12/05/16 Purchase - Interest 65558LFA5 1.00 165.31 1,052,905.29 12/05/16 12/05/16 Purchase - Principal 65558LFA5 1.00 575,117.51 1,628,022.80 12/05/16 12/05/16 Purchase - Interest 13606JYY9 1.00 951.78 1,628,974.58 12/05/16 12/05/16 Purchase - Principal 13606JYY9 1.00 574,902.25 2,203,876.83 12/05/16 12/05/16 Redemption - Principal 65558LWA6 1.00 (575,000.00) 1,628,876.83 12/05/16 12/05/16 Redemption - Interest 912828D72 1.00 (5,436.46) 1,623,440.37 12/05/16 12/05/16 Redemption - Principal 912828D72 1.00 (1,028,042.97) 595,397.40 12/05/16 12/05/16 Redemption - Principal 13606A5Z7 1.00 (574,551.50) 20,845.90 12/07/16 12/07/16 Purchase - Interest 172967KS9 1.00 1,064.29 21,910.19 12/08/16 12/08/16 Purchase - Interest 912828A34 1.00 101.65 22,011.84 12/08/16 12/08/16 Purchase - Principal 912828A34 1.00 371,055.08 393,066.92 12/08/16 12/08/16 Redemption - Principal 3130AAE46 1.00 (374,985.00) 18,081.92 12/23/16 12/23/16 Purchase - Interest 46625HLW8 1.00 7,906.25 25,988.17 12/23/16 12/23/16 IP Fees November 2016 1.00 (2,273.06) 23,715.11 12/23/16 12/23/16 U.S. Bank Fees October 2016 1.00 (155.83) 23,559.28 Page 20 For the Month Ending December 31, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 12/27/16 12/27/16 Purchase - Interest 166764AE0 1.00 3,779.60 27,338.88 12/27/16 12/27/16 Purchase - Interest 3136ANJY4 1.00 174.38 27,513.26 12/27/16 12/27/16 Purchase - Interest 3136AQDQ0 1.00 363.49 27,876.75 12/27/16 12/27/16 Purchase - Interest 3136AQSW1 1.00 197.72 28,074.47 12/30/16 12/30/16 Purchase - Correction to Interest sold on 65558LFA5 from 12/5/16 1.00 128.57 28,203.04 12/30/16 12/30/16 Redemption - Reversal of Interest sold on 65558LFA5 from 12/5/16 1.00 (165.31) 28,037.73 12/30/16 01/03/17 Accrual Income Div Reinvestment - Distributions 1.00 17.18 28,054.91 28,054.91 28,054.91 28,054.91 28,527.03 226.58 0.00 (19,391,599.93) 19,396,667.38 22,987.46 17.18 28,054.91 0.00 (2,560,610.13) 2,509,930.83 78,734.21 Monthly Distribution Yield Average Monthly Balance Closing Balance Fiscal YTDMonth of Cash Dividends and Income Closing Balance Check Disbursements Redemptions (Excl. Checks) Purchases Opening Balance Closing Balance December January-December 0.72% Page 21 Housing Funds CAMP Account For the Month Ending December 31, 2016Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Opening Market Value Purchases Redemptions Change in Value Closing Market Value 13,649.02 348,634.77 (351,678.02) 0.00 $10,605.77 CAMP Pool Unsettled Trades 0.00 6.14 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 5,040,583.31 350,441.31 (344,904.62) (2,480.11) $5,043,639.89 CAMP Managed Account Unsettled Trades 0.00 8,929.50 Cash Dividends and Income December 31, 2016 November 30, 2016 Asset Summary CAMP Pool 10,605.77 13,649.02 CAMP Managed Account 5,043,639.89 5,040,583.31 $5,054,245.66 $5,054,232.33 Total Asset Allocation 0.21% CAMP Pool 99.79% CAMP Managed Account Page 1 For the Month Ending December 31, 2016Managed Account Summary Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dividend Closing Market Value Redemptions Purchases Opening Market Value Closing Market Value Change in Current Value Unsettled Trades Principal Acquisitions Principal Dispositions Maturities/Calls Opening Market Value Closing Market Value Opening Market Value Account Total Total Cash Basis Earnings Plus Net Realized Gains/Losses Less Purchased Interest Related to Interest/Coupons Interest/Dividends/Coupons Received Earnings Reconciliation (Cash Basis) - Managed Account Dividends Less Beginning Accrued Interest Less Beginning Amortized Value of Securities Less Cost of New Purchases Plus Coupons/Dividends Received Plus Proceeds of Maturities/Calls/Principal Payments Plus Proceeds from Sales Ending Accrued Interest Ending Amortized Value of Securities Earnings Reconciliation (Accrual Basis) Reconciling Transactions Net Cash Contribution Security Purchases Principal Payments Coupon/Interest/Dividend Income Sale Proceeds Maturities/Calls Cash Transactions Summary- Managed Account $13,649.02 348,634.77 (351,678.02) $10,605.77 6.14 $5,040,583.31 0.00 (344,904.62) 350,441.31 0.00 (2,480.11) $5,043,639.89 $5,054,232.33 $5,054,245.66 6,273.39 (795.58) 3,451.69 $8,929.50 0.00 344,965.96 6,212.05 0.00 (351,236.89) 58.88 0.00 Managed Account Total 5,080,503.26 5,091,109.03 19,096.85 344,965.96 0.00 6,212.05 (351,236.89) (5,074,597.16) (17,963.59) 0.00 19,096.85 696,643.98 0.00 6,212.05 (699,871.66) (5,088,246.18) (17,963.59) 6.14 Total Accrual Basis Earnings $6,980.48 $6,986.62 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending December 31, 2016Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 1,625,000.00 1,631,823.69 32.28 Municipal Bond / Note 30,000.00 30,081.30 0.60 Federal Agency Collateralized Mortgage Obligation 95,000.00 95,049.26 1.88 Federal Agency Bond / Note 1,590,000.00 1,573,405.13 31.13 Corporate Note 1,310,000.00 1,312,514.01 25.97 Certificate of Deposit 400,000.00 400,766.50 7.93 Managed Account Sub-Total 5,050,000.00 5,043,639.89 99.79% Accrued Interest 19,096.85 Total Portfolio 5,050,000.00 5,062,736.74 CAMP Pool 10,605.77 10,605.77 0.21 Total Investments 5,060,605.77 5,073,342.51 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 7.93% Cert of Deposit 25.97% Corporate Note 1.88% Fed Agency CMO 31.13% Fed Agy Bond / Note 0.21% Mny Mkt Fund 0.60% Muni Bond / Note 32.28% US TSY Bond / Note 0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years 2.69% 7.90% 20.57% 26.13% 19.34% 23.37% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Duration to Worst Weighted Average Days to Maturity 2.62 993 1.40% 1.61% Page 3 For the Month Ending December 31, 2016Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Credit Quality (S&P Ratings) 7.43% A 4.47% A+ 2.48% A- 1.98% A-1 1.98% A-1+ 66.38% AA+ 13.59% AA- 0.21% AAAm 1.48% BBB+ Issuer Summary Percentof HoldingsIssuer Market Value 100,973.70 2.00 AMERICAN HONDA FINANCE 54,793.75 1.08 APPLE INC 149,814.40 2.96 BANK OF NEW YORK CO INC 24,536.23 0.49 BB&T CORPORTATION 26,885.85 0.53 BURLINGTON NORTHERN SANTA FE 10,605.77 0.21 CAMP Pool 254,849.46 5.04 CHEVRON CORP 101,317.80 2.00 CISCO SYSTEMS INC 24,905.63 0.49 CITIGROUP INC 947,477.59 18.75 FANNIE MAE 720,976.80 14.26 FEDERAL HOME LOAN BANKS 49,801.40 0.99 GOLDMAN SACHS GROUP INC 100,015.50 1.98 HSBC HOLDINGS PLC 99,882.10 1.98 IBM CORP 100,904.40 2.00 JP MORGAN CHASE & CO 100,807.00 1.99 NORDEA BANK AB 100,113.50 1.98 ROYAL BANK OF CANADA 99,830.50 1.98 SKANDINAVISKA ENSKIDA BANKEN AB 30,081.30 0.60 STATE OF CONNECTICUT 24,498.03 0.48 STATE STREET CORPORATION 1,631,823.69 32.28 UNITED STATES TREASURY 125,178.13 2.48 US BANCORP 174,173.13 3.45 WELLS FARGO & COMPANY $5,054,245.66 Total 100.00% Page 4 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 10/01/2012 0.625% 09/30/2017 24,964.85 24,977.63 39.92 24,854.49 10/31/1210/26/12AaaAA+ 25,000.00 912828TS9 0.75 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 44,458.61 44,432.39 39.56 44,131.64 05/29/1505/28/15AaaAA+ 45,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 124,003.88 123,844.29 530.90 123,437.50 11/09/1511/05/15AaaAA+ 125,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 148,804.65 149,694.47 637.09 149,578.13 10/09/1510/08/15AaaAA+ 150,000.00 912828UQ1 1.32 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 75,969.75 76,097.67 627.72 76,415.04 12/04/1512/01/15AaaAA+ 75,000.00 912828VP2 1.58 US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 177,830.10 177,396.39 1,263.55 178,028.32 12/30/1512/28/15AaaAA+ 175,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 100,199.20 101,505.43 299.72 101,851.56 02/03/1602/01/16AaaAA+ 100,000.00 912828WC0 1.35 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 75,776.40 76,777.76 131.87 77,141.60 03/04/1603/02/16AaaAA+ 75,000.00 912828A42 1.38 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 128,051.75 130,310.40 8.20 131,279.30 03/31/1603/30/16AaaAA+ 125,000.00 912828A83 1.28 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 124,961.00 126,963.05 6.04 127,241.21 05/31/1605/27/16AaaAA+ 125,000.00 912828N48 1.35 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 100,796.90 104,388.49 679.56 104,890.63 07/08/1607/06/16AaaAA+ 100,000.00 912828B90 0.92 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 53,730.27 55,627.00 175.65 55,700.39 06/29/1606/27/16AaaAA+ 55,000.00 912828Q37 0.98 US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 226,379.93 232,537.74 395.60 233,085.94 09/02/1609/01/16AaaAA+ 225,000.00 912828WN6 1.22 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 75,298.80 77,679.80 509.67 77,815.43 10/05/1610/03/16AaaAA+ 75,000.00 912828D72 1.21 Page 5 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 150,597.60 150,439.14 1,019.34 150,445.31 12/05/1612/01/16AaaAA+ 150,000.00 912828D72 1.93 6,364.39 1,631,823.69 1,652,671.65 1.39 1,655,896.49 1,625,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 30,081.30 30,047.53 174.37 30,084.30 03/25/1503/16/15Aa3AA- 30,000.00 20772JZK1 1.90 174.37 30,081.30 30,047.53 1.90 30,084.30 30,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 25,014.34 25,084.92 32.29 25,249.91 04/30/1504/15/15AaaAA+ 25,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 25,089.01 25,146.46 39.54 25,250.00 11/30/1511/06/15AaaAA+ 25,000.00 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 44,945.91 45,294.29 61.73 45,450.63 10/30/1510/07/15AaaAA+ 45,000.00 3136AQDQ0 1.08 133.56 95,049.26 95,525.67 1.05 95,950.54 95,000.00 Security Type Sub-Total Federal Agency Bond / Note FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 99,720.20 99,567.88 97.22 98,485.00 05/31/1305/24/13AaaAA+ 100,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 124,650.25 124,700.60 121.53 123,943.75 05/24/1305/22/13AaaAA+ 125,000.00 3135G0WJ8 1.05 FEDERAL HOME LOAN BANKS AGCY DTD 05/27/2016 0.875% 06/29/2018 49,826.15 50,008.89 2.43 50,011.08 08/12/1608/11/16AaaAA+ 50,000.00 3130A8BD4 0.86 FHLB NOTES DTD 07/08/2016 0.625% 08/07/2018 99,205.20 99,696.66 250.00 99,624.00 08/12/1608/11/16AaaAA+ 100,000.00 3130A8PK3 0.82 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 105,791.49 105,471.40 161.15 105,997.50 10/23/1410/22/14AaaAA+ 105,000.00 3135G0YT4 1.39 Page 6 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FHLB NOTES DTD 12/08/2016 1.250% 01/16/2019 99,965.10 99,996.00 79.86 99,996.00 12/08/1612/07/16AaaAA+ 100,000.00 3130AAE46 1.25 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 49,689.15 50,107.02 173.61 50,126.50 08/08/1608/05/16AaaAA+ 50,000.00 3135G0J53 0.90 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 124,222.88 124,787.93 434.03 124,705.00 02/23/1602/19/16AaaAA+ 125,000.00 3135G0J53 1.08 FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 123,263.63 124,818.64 452.69 124,790.00 08/02/1607/29/16AaaAA+ 125,000.00 3135G0N33 0.93 FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 123,230.88 124,792.26 446.61 124,760.00 08/04/1608/03/16AaaAA+ 125,000.00 3130A8Y72 0.94 FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 123,611.38 124,826.26 413.19 124,805.00 09/02/1608/31/16AaaAA+ 125,000.00 3135G0P49 1.05 FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 123,510.50 124,902.09 329.86 124,891.25 09/09/1609/08/16AaaAA+ 125,000.00 3130A9EP2 1.03 FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 104,581.47 104,976.81 176.46 104,975.85 11/17/1611/16/16AaaAA+ 105,000.00 3130AA3R7 1.38 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 120,657.50 124,308.08 652.34 124,239.88 07/15/1607/14/16AaaAA+ 125,000.00 3130A8QS5 1.25 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 24,161.75 24,920.57 114.58 24,914.48 08/19/1608/17/16AaaAA+ 25,000.00 3135G0N82 1.32 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 77,317.60 79,699.07 366.67 79,676.00 08/19/1608/17/16AaaAA+ 80,000.00 3135G0N82 1.33 4,272.23 1,573,405.13 1,587,580.16 1.11 1,585,941.29 1,590,000.00 Security Type Sub-Total Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 125,178.13 125,168.10 263.54 127,670.00 07/30/1207/25/12A1A+ 125,000.00 91159HHD5 1.19 Page 7 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 74,830.50 75,071.18 59.80 75,405.75 12/05/1211/29/12Aa2AA- 75,000.00 166764AA8 0.99 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 99,774.00 100,000.00 79.73 100,000.00 12/05/1211/28/12Aa2AA- 100,000.00 166764AA8 1.10 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 99,882.10 99,896.36 496.53 99,542.00 02/08/1302/05/13Aa3AA- 100,000.00 459200HK0 1.35 BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 99,758.80 99,992.98 431.25 99,971.00 03/06/1303/04/13A1A 100,000.00 06406HCJ6 1.36 APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 54,793.75 54,944.59 88.61 54,797.05 05/03/1304/30/13Aa1AA+ 55,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 80,244.96 80,000.00 26.72 80,000.00 06/24/1306/17/13Aa2AA- 80,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 50,658.90 50,234.14 354.17 50,475.00 09/04/1408/29/14A1AA- 50,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 50,658.90 50,294.83 354.17 50,469.50 09/04/1509/01/15A1AA- 50,000.00 17275RAR3 1.85 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 49,801.40 49,975.11 183.33 49,968.00 04/26/1604/21/16A3BBB+ 50,000.00 38141GVT8 2.02 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 24,905.63 24,989.37 34.17 24,987.00 06/09/1606/02/16Baa1BBB+ 25,000.00 172967KS9 2.07 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 100,973.70 99,898.70 850.00 99,815.00 09/09/1409/04/14A1A+ 100,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 26,885.85 27,164.46 293.75 27,597.50 06/08/1606/03/16A3A 25,000.00 12189TBC7 1.48 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 174,173.13 175,769.99 1,578.16 176,223.25 02/05/1502/02/15A2A 175,000.00 94974BGF1 2.00 Page 8 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 100,904.40 100,365.51 61.11 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 50,055.60 51,010.95 263.89 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00 BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 24,536.23 24,985.52 72.60 24,983.50 05/16/1605/10/16A2A- 25,000.00 05531FAV5 2.06 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 24,498.03 24,916.46 56.88 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03 5,548.41 1,312,514.01 1,314,678.25 1.70 1,318,456.05 1,310,000.00 Security Type Sub-Total Certificate of Deposit SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 99,830.50 100,000.00 189.11 100,000.00 11/17/1511/16/15P-1A-1 100,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 100,015.50 100,000.00 1,753.89 100,000.00 11/18/1511/17/15P-1A-1+ 100,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 100,113.50 100,000.00 528.89 100,000.00 03/15/1603/11/16Aa3AA- 100,000.00 78009NZZ2 1.69 NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 100,807.00 100,000.00 132.00 100,000.00 12/05/1612/01/16Aa3AA- 100,000.00 65558LWA6 1.74 2,603.89 400,766.50 400,000.00 1.61 400,000.00 400,000.00 Security Type Sub-Total 5,050,000.00 5,086,328.67 1.40 19,096.85 5,080,503.26 5,043,639.89 Managed Account Sub-Total Money Market Fund CAMP Pool 10,605.77 10,605.77 0.00 10,605.77 NRAAAm 10,605.77 10,605.77 10,605.77 0.00 10,605.77 10,605.77 Money Market Sub-Total Page 9 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS $5,060,605.77 $5,096,934.44 $19,096.85 $5,091,109.03 $5,054,245.66 1.40% $5,073,342.51 $19,096.85 Total Investments Accrued Interest Securities Sub-Total Page 10 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Security Type/Description Next Call Market YTMEffective Duration U.S. Treasury Bond / Note 0.74 (12.78) 110.36 24,964.85 99.86 CITIGRP 25,000.00 912828TS9US TREASURY NOTES DTD 10/01/2012 0.625% 09/30/2017 0.81 0.74 2.86 26.22 326.97 44,458.61 98.80 CITIGRP 45,000.00 912828UB4US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 1.42 2.86 3.07 159.59 566.38 124,003.88 99.20 CITIGRP 125,000.00 912828UQ1US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 1.51 3.07 3.07 (889.82)(773.48) 148,804.65 99.20 MORGANST 150,000.00 912828UQ1US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 1.51 3.07 3.42 (127.92)(445.29) 75,969.75 101.29 MERRILL 75,000.00 912828VP2US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 1.63 3.42 3.49 433.71 (198.22) 177,830.10 101.62 MORGANST 175,000.00 912828VV9US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 1.67 3.49 3.68 (1,306.23)(1,652.36) 100,199.20 100.20 MERRILL 100,000.00 912828WC0US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 1.70 3.68 3.75 (1,001.36)(1,365.20) 75,776.40 101.04 MERRILL 75,000.00 912828A42US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 1.73 3.75 3.81 (2,258.65)(3,227.55) 128,051.75 102.44 MERRILL 125,000.00 912828A83US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 1.74 3.81 3.85 (2,002.05)(2,280.21) 124,961.00 99.97 MORGANST 125,000.00 912828N48US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 1.76 3.85 3.95 (3,591.59)(4,093.73) 100,796.90 100.80 MORGANST 100,000.00 912828B90US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 1.80 3.95 4.10 (1,896.73)(1,970.12) 53,730.27 97.69 CITIGRP 55,000.00 912828Q37US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 1.82 4.10 4.20 (6,157.81)(6,706.01) 226,379.93 100.61 HSBC 225,000.00 912828WN6US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 1.85 4.20 4.40 (2,381.00)(2,516.63) 75,298.80 100.40 HSBC 75,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1.91 4.40 4.40 158.46 152.29 150,597.60 100.40 HSBC 150,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1.91 4.40 (24,072.80) 1.71 3.71 (20,847.96) 1,631,823.69 1,625,000.00 Security Type Sub-Total 3.71 Municipal Bond / Note Page 11 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Security Type/Description Next Call Market YTMEffective Duration Municipal Bond / Note 2.14 33.77 (3.00) 30,081.30 100.27 VINING 30,000.00 20772JZK1CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 1.85 2.14 (3.00) 1.85 2.14 33.77 30,081.30 30,000.00 Security Type Sub-Total 2.14 Federal Agency Collateralized Mortgage Obligation 1.08 (70.58)(235.57) 25,014.34 100.06 GOLDMAN 25,000.00 3136ANJY4FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 1.40 1.09 1.79 (57.45)(160.99) 25,089.01 100.36 GOLDMAN 25,000.00 3136AQSW1FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 1.63 1.32 2.45 (348.38)(504.72) 44,945.91 99.88 MORGANST 45,000.00 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 1.65 1.67 (901.28) 1.58 1.92 (476.41) 95,049.26 95,000.00 Security Type Sub-Total 1.43 Federal Agency Bond / Note 1.37 152.32 1,235.20 99,720.20 99.72 CSFB 100,000.00 3135G0WJ8FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 1.08 1.37 1.37 (50.35) 706.50 124,650.25 99.72 BNP PARI 125,000.00 3135G0WJ8FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 1.08 1.37 1.48 (182.74)(184.93) 49,826.15 99.65 WELLSFAR 50,000.00 3130A8BD4FEDERAL HOME LOAN BANKS AGCY DTD 05/27/2016 0.875% 06/29/2018 1.11 1.48 1.58 (491.46)(418.80) 99,205.20 99.21 CITIGRP 100,000.00 3130A8PK3FHLB NOTES DTD 07/08/2016 0.625% 08/07/2018 1.13 1.58 1.87 320.09 (206.01) 105,791.49 100.75 GOLDMAN 105,000.00 3135G0YT4FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 1.22 1.87 2.01 (30.90)(30.90) 99,965.10 99.97 BAML 100,000.00 3130AAE46FHLB NOTES DTD 12/08/2016 1.250% 01/16/2019 1.27 2.01 2.11 (417.87)(437.35) 49,689.15 99.38 BMO 50,000.00 3135G0J53FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 1.29 2.11 2.11 (565.05)(482.12) 124,222.88 99.38 JPMCHASE 125,000.00 3135G0J53FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 1.29 2.11 2.54 (1,555.01)(1,526.37) 123,263.63 98.61 GOLDMAN 125,000.00 3135G0N33FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 1.42 2.54 Page 12 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Security Type/Description Next Call Market YTMEffective Duration Federal Agency Bond / Note 2.54 (1,561.38)(1,529.12) 123,230.88 98.58 WELLSFAR 125,000.00 3130A8Y72FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 1.43 2.54 2.60 (1,214.88)(1,193.62) 123,611.38 98.89 GOLDMAN 125,000.00 3135G0P49FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 1.43 2.60 2.68 (1,391.59)(1,380.75) 123,510.50 98.81 BARCLAYS 125,000.00 3130A9EP2FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 1.45 2.68 2.80 (395.34)(394.38) 104,581.47 99.60 MERRILL 105,000.00 3130AA3R7FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 1.52 2.80 4.37 (3,650.58)(3,582.38) 120,657.50 96.53 TD SEC U 125,000.00 3130A8QS5FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 1.93 4.37 4.44 (758.82)(752.73) 24,161.75 96.65 TD SEC U 25,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.01 4.44 4.44 (2,381.47)(2,358.40) 77,317.60 96.65 CITIGRP 80,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.01 4.44 (12,536.16) 1.39 2.45 (14,175.03) 1,573,405.13 1,590,000.00 Security Type Sub-Total 2.45 Corporate Note 0.29 10.03 (2,491.87) 125,178.13 100.14 04/15/17BARCLAYS 125,000.00 91159HHD5US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 1.25 0.28 0.92 (240.68)(575.25) 74,830.50 99.77 11/05/17BARCLAYS 75,000.00 166764AA8CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 1.35 0.90 0.92 (226.00)(226.00) 99,774.00 99.77 11/05/17MORGANST 100,000.00 166764AA8CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 1.35 0.90 1.09 (14.26) 340.10 99,882.10 99.88 HSBC 100,000.00 459200HK0IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 1.36 1.09 1.16 (234.18)(212.20) 99,758.80 99.76 GOLDMAN 100,000.00 06406HCJ6BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 1.56 1.13 1.32 (150.84)(3.30) 54,793.75 99.63 GOLDMAN 55,000.00 037833AJ9APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 1.28 1.32 1.46 244.96 244.96 80,244.96 100.31 BARCLAYS 80,000.00 166764AE0CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 1.51 1.46 Page 13 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Security Type/Description Next Call Market YTMEffective Duration Corporate Note 2.10 424.76 183.90 50,658.90 101.32 BONY 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.50 2.10 2.10 364.07 189.40 50,658.90 101.32 BNP PARI 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.50 2.10 2.24 (173.71)(166.60) 49,801.40 99.60 03/25/19MIZUHO 50,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 2.18 2.22 2.36 (83.74)(81.37) 24,905.63 99.62 CITIGRP 25,000.00 172967KS9CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 2.21 2.36 2.52 1,075.00 1,158.70 100,973.70 100.97 MERRILL 100,000.00 02665WAH4AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 1.87 2.52 2.57 (278.61)(711.65) 26,885.85 107.54 GOLDMAN 25,000.00 12189TBC7BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 1.87 2.57 2.94 (1,596.86)(2,050.12) 174,173.13 99.53 JEFFERIE 175,000.00 94974BGF1WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 2.31 2.94 3.22 538.89 407.40 100,904.40 100.90 05/23/20JPMCHASE 100,000.00 46625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 2.48 3.28 4.02 (955.35)(1,093.40) 50,055.60 100.11 KEYBAN 50,000.00 06406FAA1BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 2.47 4.02 4.13 (449.29)(447.27) 24,536.23 98.14 SCOTIA 25,000.00 05531FAV5BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 2.50 4.13 4.16 (418.43)(407.47) 24,498.03 97.99 GOLDMAN 25,000.00 857477AV5STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 2.44 4.16 (5,942.04) 1.77 1.95 (2,164.24) 1,312,514.01 1,310,000.00 Security Type Sub-Total 1.95 Certificate of Deposit 0.86 (169.50)(169.50) 99,830.50 99.83 GOLDMAN 100,000.00 83050FBG5SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 1.65 0.86 0.87 15.50 15.50 100,015.50 100.02 HSBC 100,000.00 40428AR58HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 1.51 0.87 Page 14 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Security Type/Description Next Call Market YTMEffective Duration Certificate of Deposit 1.18 113.50 113.50 100,113.50 100.11 RBC CAP 100,000.00 78009NZZ2ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 1.57 1.18 1.90 807.00 807.00 100,807.00 100.81 MERRILL 100,000.00 65558LWA6NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 1.25 1.90 766.50 1.49 1.21 766.50 400,766.50 400,000.00 Security Type Sub-Total 1.21 5,050,000.00 5,043,639.89 (42,688.78) (36,863.37) 2.62 1.61 Managed Account Sub-Total 2.61 Money Market Fund 0.00 0.00 0.00 10,605.77 1.00 10,605.77 CAMP Pool 0.00 10,605.77 10,605.77 0.00 0.00 0.00 Money Market Sub-Total 0.00 Total Investments $5,073,342.51 $19,096.85 $5,054,245.66 Accrued Interest Securities Sub-Total $5,060,605.77 ($42,688.78) ($36,863.37) 2.62 1.61% 2.61 Page 15 For the Month Ending December 31, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method BUY 12/05/16 NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 65558LWA6 (100,000.00) 0.00 (100,000.00) 100,000.00 12/01/16 12/05/16 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 912828D72 (150,445.31)(795.58)(151,240.89) 150,000.00 12/01/16 12/08/16 FHLB NOTES DTD 12/08/2016 1.250% 01/16/2019 3130AAE46 (99,996.00) 0.00 (99,996.00) 100,000.00 12/07/16 (795.58) (351,236.89)(350,441.31) 350,000.00 Transaction Type Sub-Total INTEREST 12/25/16 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 0.00 32.29 32.29 25,000.00 12/01/16 12/25/16 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 0.00 61.73 61.73 45,000.00 12/01/16 12/25/16 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 0.00 39.54 39.54 25,000.00 12/01/16 12/05/16 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 166764AA8 0.00 414.00 414.00 75,000.00 12/05/16 12/05/16 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 166764AA8 0.00 552.00 552.00 100,000.00 12/05/16 12/07/16 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 172967KS9 0.00 253.41 253.41 25,000.00 12/07/16 12/23/16 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 46625HLW8 0.00 1,375.00 1,375.00 100,000.00 12/23/16 12/24/16 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 166764AE0 0.00 687.20 687.20 80,000.00 12/24/16 12/29/16 FEDERAL HOME LOAN BANKS AGCY DTD 05/27/2016 0.875% 06/29/2018 3130A8BD4 0.00 218.75 218.75 50,000.00 12/29/16 12/31/16 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 912828N48 0.00 1,093.75 1,093.75 125,000.00 12/31/16 12/31/16 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 912828A83 0.00 1,484.38 1,484.38 125,000.00 12/31/16 Page 16 For the Month Ending December 31, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method 6,212.05 6,212.05 0.00 775,000.00 Transaction Type Sub-Total SELL 12/05/16 US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 912828UA6 149,613.28 12.88 149,626.16 2,496.09 423.87 SPEC LOT 150,000.00 12/01/16 12/05/16 NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 65558LFA5 100,020.44 22.36 100,042.80 20.44 20.44 SPEC LOT 100,000.00 12/01/16 12/08/16 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 912828A34 95,270.90 26.10 95,297.00 935.16 568.57 FIFO 95,000.00 12/07/16 61.34 1,012.88 3,451.69 344,965.96 344,904.62 345,000.00 Transaction Type Sub-Total (5,536.69) 5,477.81 (58.88) 3,451.69 1,012.88 Managed Account Sub-Total Total Security Transactions $3,451.69 ($58.88)$5,477.81 ($5,536.69)$1,012.88 Page 17 For the Month Ending December 31, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 13,649.02 Opening Balance 12/05/16 12/05/16 Purchase - Interest 166764AA8 1.00 414.00 14,063.02 12/05/16 12/05/16 Purchase - Interest 166764AA8 1.00 552.00 14,615.02 12/05/16 12/05/16 Purchase - Interest 65558LFA5 1.00 28.75 14,643.77 12/05/16 12/05/16 Purchase - Principal 65558LFA5 1.00 100,020.44 114,664.21 12/05/16 12/05/16 Purchase - Interest 912828UA6 1.00 12.88 114,677.09 12/05/16 12/05/16 Purchase - Principal 912828UA6 1.00 149,613.28 264,290.37 12/05/16 12/05/16 Redemption - Principal 912828D72 1.00 (150,445.31) 113,845.06 12/05/16 12/05/16 Redemption - Principal 65558LWA6 1.00 (100,000.00) 13,845.06 12/05/16 12/05/16 Redemption - Interest 912828D72 1.00 (795.58) 13,049.48 12/07/16 12/07/16 Purchase - Interest 172967KS9 1.00 253.41 13,302.89 12/08/16 12/08/16 Purchase - Interest 912828A34 1.00 26.10 13,328.99 12/08/16 12/08/16 Purchase - Principal 912828A34 1.00 95,270.90 108,599.89 12/08/16 12/08/16 Redemption - Principal 3130AAE46 1.00 (99,996.00) 8,603.89 12/23/16 12/23/16 Purchase - Interest 46625HLW8 1.00 1,375.00 9,978.89 12/23/16 12/23/16 IP Fees November 2016 1.00 (385.93) 9,592.96 12/23/16 12/23/16 U.S. Bank Fees October 2016 1.00 (26.45) 9,566.51 12/27/16 12/27/16 Purchase - Interest 166764AE0 1.00 687.20 10,253.71 12/27/16 12/27/16 Purchase - Interest 3136ANJY4 1.00 32.29 10,286.00 12/27/16 12/27/16 Purchase - Interest 3136AQDQ0 1.00 61.73 10,347.73 12/27/16 12/27/16 Purchase - Interest 3136AQSW1 1.00 39.54 10,387.27 12/29/16 12/29/16 Purchase - Interest 3130A8BD4 1.00 218.75 10,606.02 Page 18 For the Month Ending December 31, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 12/30/16 12/30/16 Purchase - Correction to Interest sold on 65558LFA5 from 12/5/16 1.00 22.36 10,628.38 12/30/16 12/30/16 Redemption - Reversal of Interest sold on 65558LFA5 from 12/5/16 1.00 (28.75) 10,599.63 12/30/16 01/03/17 Accrual Income Div Reinvestment - Distributions 1.00 6.14 10,605.77 10,605.77 10,605.77 10,605.77 10,126.27 56.11 0.00 (3,063,560.80) 3,069,957.22 4,209.35 6.14 10,605.77 0.00 (351,678.02) 348,634.77 13,649.02 Monthly Distribution Yield Average Monthly Balance Closing Balance Fiscal YTDMonth of Cash Dividends and Income Closing Balance Check Disbursements Redemptions (Excl. Checks) Purchases Opening Balance Closing Balance December January-December 0.72% Page 19 Successor Agency CAMP Account For the Month Ending December 31, 2016Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Opening Market Value Purchases Redemptions Change in Value Closing Market Value 22,925.64 323,155.38 (326,486.91) 0.00 $19,594.11 CAMP Pool Unsettled Trades 0.00 11.71 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 5,236,504.33 325,367.09 (319,969.07) (3,194.63) $5,238,707.72 CAMP Managed Account Unsettled Trades 0.00 6,681.81 Cash Dividends and Income December 31, 2016 November 30, 2016 Asset Summary CAMP Pool 19,594.11 22,925.64 CAMP Managed Account 5,238,707.72 5,236,504.33 $5,258,301.83 $5,259,429.97 Total Asset Allocation 0.37% CAMP Pool 99.63% CAMP Managed Account Page 1 For the Month Ending December 31, 2016Managed Account Summary Statement CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dividend Closing Market Value Redemptions Purchases Opening Market Value Closing Market Value Change in Current Value Unsettled Trades Principal Acquisitions Principal Dispositions Maturities/Calls Opening Market Value Closing Market Value Opening Market Value Account Total Total Cash Basis Earnings Plus Net Realized Gains/Losses Less Purchased Interest Related to Interest/Coupons Interest/Dividends/Coupons Received Earnings Reconciliation (Cash Basis) - Managed Account Dividends Less Beginning Accrued Interest Less Beginning Amortized Value of Securities Less Cost of New Purchases Plus Coupons/Dividends Received Plus Proceeds of Maturities/Calls/Principal Payments Plus Proceeds from Sales Ending Accrued Interest Ending Amortized Value of Securities Earnings Reconciliation (Accrual Basis) Reconciling Transactions Net Cash Contribution Security Purchases Principal Payments Coupon/Interest/Dividend Income Sale Proceeds Maturities/Calls Cash Transactions Summary- Managed Account $22,925.64 323,155.38 (326,486.91) $19,594.11 11.71 $5,236,504.33 0.00 (319,969.07) 325,367.09 0.00 (3,194.63) $5,238,707.72 $5,259,429.97 $5,258,301.83 4,239.60 (662.98) 3,105.19 $6,681.81 0.00 320,028.26 4,180.41 0.00 (326,030.07) 1,821.40 0.00 Managed Account Total 5,274,984.91 5,294,579.02 18,640.35 320,028.26 0.00 4,180.41 (326,030.07) (5,269,235.25) (15,362.34) 0.00 18,640.35 646,515.17 0.00 4,180.41 (649,185.45) (5,292,160.89) (15,362.34) 11.71 Total Accrual Basis Earnings $7,206.27 $7,217.98 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending December 31, 2016Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 1,725,000.00 1,731,967.99 32.94 Municipal Bond / Note 30,000.00 30,081.30 0.57 Federal Agency Collateralized Mortgage Obligation 95,000.00 95,049.26 1.81 Federal Agency Bond / Note 1,885,000.00 1,866,810.72 35.50 Corporate Note 1,110,000.00 1,114,031.95 21.19 Certificate of Deposit 400,000.00 400,766.50 7.62 Managed Account Sub-Total 5,245,000.00 5,238,707.72 99.63% Accrued Interest 18,640.35 Total Portfolio 5,245,000.00 5,257,348.07 CAMP Pool 19,594.11 19,594.11 0.37 Total Investments 5,264,594.11 5,276,942.18 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 7.62% Cert of Deposit 21.19% Corporate Note 1.81% Fed Agency CMO 35.50% Fed Agy Bond / Note 0.37% Mny Mkt Fund 0.57% Muni Bond / Note 32.94% US TSY Bond / Note 0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years 5.13%3.80% 19.80% 34.78% 16.94% 19.55% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Duration to Worst Weighted Average Days to Maturity 2.61 990 1.38% 1.58% Page 3 For the Month Ending December 31, 2016Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Credit Quality (S&P Ratings) 4.30% A 6.68% A+ 2.39% A- 1.90% A-1 1.90% A-1+ 71.29% AA+ 9.75% AA- 0.37% AAAm 1.42% BBB+ Issuer Summary Percentof HoldingsIssuer Market Value 100,973.70 1.92 AMERICAN HONDA FINANCE 54,793.75 1.04 APPLE INC 124,874.70 2.37 BANK OF NEW YORK CO INC 24,536.23 0.47 BB&T CORPORTATION 26,885.85 0.51 BURLINGTON NORTHERN SANTA FE 19,594.11 0.37 CAMP Pool 80,244.96 1.53 CHEVRON CORP 101,317.80 1.93 CISCO SYSTEMS INC 24,905.63 0.47 CITIGROUP INC 1,201,071.42 22.84 FANNIE MAE 706,011.14 13.43 FEDERAL HOME LOAN BANKS 54,777.42 1.04 FREDDIE MAC 49,801.40 0.95 GOLDMAN SACHS GROUP INC 100,015.50 1.90 HSBC HOLDINGS PLC 99,882.10 1.90 IBM CORP 100,904.40 1.92 JP MORGAN CHASE & CO 100,807.00 1.92 NORDEA BANK AB 100,113.50 1.90 ROYAL BANK OF CANADA 99,830.50 1.90 SKANDINAVISKA ENSKIDA BANKEN AB 30,081.30 0.57 STATE OF CONNECTICUT 24,498.03 0.47 STATE STREET CORPORATION 1,731,967.99 32.94 UNITED STATES TREASURY 250,356.25 4.76 US BANCORP 50,057.15 0.95 WELLS FARGO & COMPANY $5,258,301.83 Total 100.00% Page 4 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 04/30/2014 1.625% 04/30/2019 75,585.90 75,970.76 208.74 76,025.39 11/14/1611/10/16AaaAA+ 75,000.00 912828D23 1.06 US TREASURY NOTES DTD 06/02/2014 1.500% 05/31/2019 150,691.35 151,556.92 197.80 151,640.63 11/14/1611/10/16AaaAA+ 150,000.00 912828WL0 1.06 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 59,278.14 59,243.18 52.75 58,842.19 05/29/1505/28/15AaaAA+ 60,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 173,605.43 173,382.00 743.27 172,812.50 11/09/1511/05/15AaaAA+ 175,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 101,293.00 101,463.56 836.96 101,886.72 12/04/1512/01/15AaaAA+ 100,000.00 912828VP2 1.58 US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 187,991.82 187,533.33 1,335.76 188,201.37 12/30/1512/28/15AaaAA+ 185,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 100,199.20 101,505.43 299.72 101,851.56 02/03/1602/01/16AaaAA+ 100,000.00 912828WC0 1.35 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 176,811.60 179,148.11 307.69 179,997.07 03/04/1603/02/16AaaAA+ 175,000.00 912828A42 1.38 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 124,961.00 126,963.05 6.04 127,241.21 05/31/1605/27/16AaaAA+ 125,000.00 912828N48 1.35 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 75,597.68 78,291.37 509.67 78,667.97 07/08/1607/06/16AaaAA+ 75,000.00 912828B90 0.92 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 53,730.27 55,627.00 175.65 55,700.39 06/29/1606/27/16AaaAA+ 55,000.00 912828Q37 0.98 US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 201,226.60 206,700.21 351.65 207,187.50 09/02/1609/01/16AaaAA+ 200,000.00 912828WN6 1.22 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 125,498.00 129,466.33 849.45 129,692.38 10/05/1610/03/16AaaAA+ 125,000.00 912828D72 1.21 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 125,498.00 125,365.95 849.45 125,371.09 12/05/1612/01/16AaaAA+ 125,000.00 912828D72 1.93 Page 5 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par 6,724.60 1,731,967.99 1,752,217.20 1.38 1,755,117.97 1,725,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 30,081.30 30,047.53 174.37 30,084.30 03/25/1503/16/15Aa3AA- 30,000.00 20772JZK1 1.90 174.37 30,081.30 30,047.53 1.90 30,084.30 30,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 25,014.34 25,084.92 32.29 25,249.91 04/30/1504/15/15AaaAA+ 25,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 25,089.01 25,146.46 39.54 25,250.00 11/30/1511/06/15AaaAA+ 25,000.00 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 44,945.91 45,294.29 61.73 45,450.63 10/30/1510/07/15AaaAA+ 45,000.00 3136AQDQ0 1.08 133.56 95,049.26 95,525.67 1.05 95,950.54 95,000.00 Security Type Sub-Total Federal Agency Bond / Note FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 74,790.15 74,675.91 72.92 73,863.75 05/31/1305/24/13AaaAA+ 75,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 99,720.20 99,760.48 97.22 99,155.00 05/24/1305/22/13AaaAA+ 100,000.00 3135G0WJ8 1.05 FHLB NOTES DTD 07/08/2016 0.625% 08/07/2018 99,205.20 99,696.66 250.00 99,624.00 08/12/1608/11/16AaaAA+ 100,000.00 3130A8PK3 0.82 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 105,791.49 105,471.40 161.15 105,997.50 10/23/1410/22/14AaaAA+ 105,000.00 3135G0YT4 1.39 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 125,942.25 125,001.84 191.84 125,003.75 06/19/1406/16/14AaaAA+ 125,000.00 3135G0YT4 1.62 FHLB NOTES DTD 12/08/2016 1.250% 01/16/2019 99,965.10 99,996.00 79.86 99,996.00 12/08/1612/07/16AaaAA+ 100,000.00 3130AAE46 1.25 Page 6 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 49,689.15 50,107.02 173.61 50,126.50 08/08/1608/05/16AaaAA+ 50,000.00 3135G0J53 0.90 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 124,222.88 124,787.93 434.03 124,705.00 02/23/1602/19/16AaaAA+ 125,000.00 3135G0J53 1.08 FREDDIE MAC NOTES DTD 03/21/2016 1.125% 04/15/2019 54,777.42 55,284.77 130.63 55,331.10 08/15/1608/12/16AaaAA+ 55,000.00 3137EADZ9 0.90 FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 123,263.63 124,818.64 452.69 124,790.00 08/02/1607/29/16AaaAA+ 125,000.00 3135G0N33 0.93 FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 123,230.88 124,792.26 446.61 124,760.00 08/04/1608/03/16AaaAA+ 125,000.00 3130A8Y72 0.94 FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 123,611.38 124,826.26 413.19 124,805.00 09/02/1608/31/16AaaAA+ 125,000.00 3135G0P49 1.05 FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 123,510.50 124,902.09 329.86 124,891.25 09/09/1609/08/16AaaAA+ 125,000.00 3130A9EP2 1.03 FANNIE MAE GLOBAL NOTES DTD 10/25/2016 1.000% 10/24/2019 177,511.68 179,546.70 330.00 179,517.60 10/25/1610/21/16AaaAA+ 180,000.00 3135G0R39 1.09 FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 139,441.96 139,969.08 235.28 139,967.80 11/17/1611/16/16AaaAA+ 140,000.00 3130AA3R7 1.38 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 120,657.50 124,308.08 652.34 124,239.88 07/15/1607/14/16AaaAA+ 125,000.00 3130A8QS5 1.25 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 24,161.75 24,920.57 114.58 24,914.48 08/19/1608/17/16AaaAA+ 25,000.00 3135G0N82 1.32 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 77,317.60 79,699.07 366.67 79,676.00 08/19/1608/17/16AaaAA+ 80,000.00 3135G0N82 1.33 4,932.48 1,866,810.72 1,882,564.76 1.15 1,881,364.61 1,885,000.00 Security Type Sub-Total Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 250,356.25 250,000.00 527.08 255,340.00 07/30/1207/25/12A1A+ 250,000.00 91159HHD5 1.19 Page 7 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 99,882.10 99,896.36 496.53 99,542.00 02/08/1302/05/13Aa3AA- 100,000.00 459200HK0 1.35 BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 74,819.10 74,994.73 323.44 74,978.25 03/06/1303/04/13A1A 75,000.00 06406HCJ6 1.36 APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 54,793.75 54,944.59 88.61 54,797.05 05/03/1304/30/13Aa1AA+ 55,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 80,244.96 80,000.00 26.72 80,000.00 06/24/1306/17/13Aa2AA- 80,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 50,658.90 50,234.14 354.17 50,475.00 09/04/1408/29/14A1AA- 50,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 50,658.90 50,294.83 354.17 50,469.50 09/04/1509/01/15A1AA- 50,000.00 17275RAR3 1.85 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 49,801.40 49,975.11 183.33 49,968.00 04/26/1604/21/16A3BBB+ 50,000.00 38141GVT8 2.02 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 24,905.63 24,989.37 34.17 24,987.00 06/09/1606/02/16Baa1BBB+ 25,000.00 172967KS9 2.07 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 100,973.70 99,898.70 850.00 99,815.00 09/09/1409/04/14A1A+ 100,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 26,885.85 27,164.46 293.75 27,597.50 06/08/1606/03/16A3A 25,000.00 12189TBC7 1.48 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 100,904.40 100,365.51 61.11 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 50,057.15 50,959.02 85.00 51,108.00 05/10/1605/06/16A2A 50,000.00 94974BGR5 2.04 BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 50,055.60 51,010.95 263.89 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00 Page 8 For the Month Ending December 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 24,536.23 24,985.52 72.60 24,983.50 05/16/1605/10/16A2A- 25,000.00 05531FAV5 2.06 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 24,498.03 24,916.46 56.88 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03 4,071.45 1,114,031.95 1,114,629.75 1.72 1,120,612.30 1,110,000.00 Security Type Sub-Total Certificate of Deposit SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 99,830.50 100,000.00 189.11 100,000.00 11/17/1511/16/15P-1A-1 100,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 100,015.50 100,000.00 1,753.89 100,000.00 11/18/1511/17/15P-1A-1+ 100,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 100,113.50 100,000.00 528.89 100,000.00 03/15/1603/11/16Aa3AA- 100,000.00 78009NZZ2 1.69 NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 100,807.00 100,000.00 132.00 100,000.00 12/05/1612/01/16Aa3AA- 100,000.00 65558LWA6 1.74 2,603.89 400,766.50 400,000.00 1.61 400,000.00 400,000.00 Security Type Sub-Total 5,245,000.00 5,283,129.72 1.38 18,640.35 5,274,984.91 5,238,707.72 Managed Account Sub-Total Money Market Fund CAMP Pool 19,594.11 19,594.11 0.00 19,594.11 NRAAAm 19,594.11 19,594.11 19,594.11 0.00 19,594.11 19,594.11 Money Market Sub-Total $5,264,594.11 $5,302,723.83 $18,640.35 $5,294,579.02 $5,258,301.83 1.38% $5,276,942.18 $18,640.35 Total Investments Accrued Interest Securities Sub-Total Page 9 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Security Type/Description Next Call Market YTMEffective Duration U.S. Treasury Bond / Note 2.28 (384.86)(439.49) 75,585.90 100.78 CITIGRP 75,000.00 912828D23US TREASURY NOTES DTD 04/30/2014 1.625% 04/30/2019 1.28 2.28 2.36 (865.57)(949.28) 150,691.35 100.46 MORGANST 150,000.00 912828WL0US TREASURY NOTES DTD 06/02/2014 1.500% 05/31/2019 1.31 2.36 2.86 34.96 435.95 59,278.14 98.80 CITIGRP 60,000.00 912828UB4US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 1.42 2.86 3.07 223.43 792.93 173,605.43 99.20 CITIGRP 175,000.00 912828UQ1US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 1.51 3.07 3.42 (170.56)(593.72) 101,293.00 101.29 MERRILL 100,000.00 912828VP2US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 1.63 3.42 3.49 458.49 (209.55) 187,991.82 101.62 MORGANST 185,000.00 912828VV9US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 1.67 3.49 3.68 (1,306.23)(1,652.36) 100,199.20 100.20 MERRILL 100,000.00 912828WC0US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 1.70 3.68 3.75 (2,336.51)(3,185.47) 176,811.60 101.04 MERRILL 175,000.00 912828A42US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 1.73 3.75 3.85 (2,002.05)(2,280.21) 124,961.00 99.97 MORGANST 125,000.00 912828N48US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 1.76 3.85 3.95 (2,693.69)(3,070.29) 75,597.68 100.80 MORGANST 75,000.00 912828B90US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 1.80 3.95 4.10 (1,896.73)(1,970.12) 53,730.27 97.69 CITIGRP 55,000.00 912828Q37US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 1.82 4.10 4.20 (5,473.61)(5,960.90) 201,226.60 100.61 HSBC 200,000.00 912828WN6US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 1.85 4.20 4.40 (3,968.33)(4,194.38) 125,498.00 100.40 HSBC 125,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1.91 4.40 4.40 132.05 126.91 125,498.00 100.40 HSBC 125,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1.91 4.40 (23,149.98) 1.67 3.59 (20,249.21) 1,731,967.99 1,725,000.00 Security Type Sub-Total 3.59 Municipal Bond / Note 2.14 33.77 (3.00) 30,081.30 100.27 VINING 30,000.00 20772JZK1CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 1.85 2.14 Page 10 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Security Type/Description Next Call Market YTMEffective Duration (3.00) 1.85 2.14 33.77 30,081.30 30,000.00 Security Type Sub-Total 2.14 Federal Agency Collateralized Mortgage Obligation 1.08 (70.58)(235.57) 25,014.34 100.06 GOLDMAN 25,000.00 3136ANJY4FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 1.40 1.09 1.79 (57.45)(160.99) 25,089.01 100.36 GOLDMAN 25,000.00 3136AQSW1FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 1.63 1.32 2.45 (348.38)(504.72) 44,945.91 99.88 MORGANST 45,000.00 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 1.65 1.67 (901.28) 1.58 1.92 (476.41) 95,049.26 95,000.00 Security Type Sub-Total 1.43 Federal Agency Bond / Note 1.37 114.24 926.40 74,790.15 99.72 CSFB 75,000.00 3135G0WJ8FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 1.08 1.37 1.37 (40.28) 565.20 99,720.20 99.72 BNP PARI 100,000.00 3135G0WJ8FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 1.08 1.37 1.58 (491.46)(418.80) 99,205.20 99.21 CITIGRP 100,000.00 3130A8PK3FHLB NOTES DTD 07/08/2016 0.625% 08/07/2018 1.13 1.58 1.87 320.09 (206.01) 105,791.49 100.75 GOLDMAN 105,000.00 3135G0YT4FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 1.22 1.87 1.87 940.41 938.50 125,942.25 100.75 HSBC 125,000.00 3135G0YT4FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 1.22 1.87 2.01 (30.90)(30.90) 99,965.10 99.97 BAML 100,000.00 3130AAE46FHLB NOTES DTD 12/08/2016 1.250% 01/16/2019 1.27 2.01 2.11 (417.87)(437.35) 49,689.15 99.38 BMO 50,000.00 3135G0J53FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 1.29 2.11 2.11 (565.05)(482.12) 124,222.88 99.38 JPMCHASE 125,000.00 3135G0J53FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 1.29 2.11 2.25 (507.35)(553.68) 54,777.42 99.60 TD SEC U 55,000.00 3137EADZ9FREDDIE MAC NOTES DTD 03/21/2016 1.125% 04/15/2019 1.30 2.25 2.54 (1,555.01)(1,526.37) 123,263.63 98.61 GOLDMAN 125,000.00 3135G0N33FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 1.42 2.54 2.54 (1,561.38)(1,529.12) 123,230.88 98.58 WELLSFAR 125,000.00 3130A8Y72FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 1.43 2.54 Page 11 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Security Type/Description Next Call Market YTMEffective Duration Federal Agency Bond / Note 2.60 (1,214.88)(1,193.62) 123,611.38 98.89 GOLDMAN 125,000.00 3135G0P49FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 1.43 2.60 2.68 (1,391.59)(1,380.75) 123,510.50 98.81 BARCLAYS 125,000.00 3130A9EP2FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 1.45 2.68 2.76 (2,035.02)(2,005.92) 177,511.68 98.62 BARCLAYS 180,000.00 3135G0R39FANNIE MAE GLOBAL NOTES DTD 10/25/2016 1.000% 10/24/2019 1.50 2.76 2.80 (527.12)(525.84) 139,441.96 99.60 MERRILL 140,000.00 3130AA3R7FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 1.52 2.80 4.37 (3,650.58)(3,582.38) 120,657.50 96.53 TD SEC U 125,000.00 3130A8QS5FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 1.93 4.37 4.44 (758.82)(752.73) 24,161.75 96.65 TD SEC U 25,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.01 4.44 4.44 (2,381.47)(2,358.40) 77,317.60 96.65 CITIGRP 80,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.01 4.44 (14,553.89) 1.41 2.50 (15,754.04) 1,866,810.72 1,885,000.00 Security Type Sub-Total 2.50 Corporate Note 0.29 356.25 (4,983.75) 250,356.25 100.14 04/15/17BARCLAYS 250,000.00 91159HHD5US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 1.25 0.28 1.09 (14.26) 340.10 99,882.10 99.88 HSBC 100,000.00 459200HK0IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 1.36 1.09 1.16 (175.63)(159.15) 74,819.10 99.76 GOLDMAN 75,000.00 06406HCJ6BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 1.56 1.13 1.32 (150.84)(3.30) 54,793.75 99.63 GOLDMAN 55,000.00 037833AJ9APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 1.28 1.32 1.46 244.96 244.96 80,244.96 100.31 BARCLAYS 80,000.00 166764AE0CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 1.51 1.46 2.10 424.76 183.90 50,658.90 101.32 BONY 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.50 2.10 2.10 364.07 189.40 50,658.90 101.32 BNP PARI 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.50 2.10 Page 12 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Security Type/Description Next Call Market YTMEffective Duration Corporate Note 2.24 (173.71)(166.60) 49,801.40 99.60 03/25/19MIZUHO 50,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 2.18 2.22 2.36 (83.74)(81.37) 24,905.63 99.62 CITIGRP 25,000.00 172967KS9CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 2.21 2.36 2.52 1,075.00 1,158.70 100,973.70 100.97 MERRILL 100,000.00 02665WAH4AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 1.87 2.52 2.57 (278.61)(711.65) 26,885.85 107.54 GOLDMAN 25,000.00 12189TBC7BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 1.87 2.57 3.22 538.89 407.40 100,904.40 100.90 05/23/20JPMCHASE 100,000.00 46625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 2.48 3.28 3.71 (901.87)(1,050.85) 50,057.15 100.11 UBS AG 50,000.00 94974BGR5WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 2.52 3.71 4.02 (955.35)(1,093.40) 50,055.60 100.11 KEYBAN 50,000.00 06406FAA1BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 2.47 4.02 4.13 (449.29)(447.27) 24,536.23 98.14 SCOTIA 25,000.00 05531FAV5BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 2.50 4.13 4.16 (418.43)(407.47) 24,498.03 97.99 GOLDMAN 25,000.00 857477AV5STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 2.44 4.16 (6,580.35) 1.73 1.87 (597.80) 1,114,031.95 1,110,000.00 Security Type Sub-Total 1.87 Certificate of Deposit 0.86 (169.50)(169.50) 99,830.50 99.83 GOLDMAN 100,000.00 83050FBG5SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 1.65 0.86 0.87 15.50 15.50 100,015.50 100.02 HSBC 100,000.00 40428AR58HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 1.51 0.87 1.18 113.50 113.50 100,113.50 100.11 RBC CAP 100,000.00 78009NZZ2ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 1.57 1.18 1.90 807.00 807.00 100,807.00 100.81 MERRILL 100,000.00 65558LWA6NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 1.25 1.90 766.50 1.49 1.21 766.50 400,766.50 400,000.00 Security Type Sub-Total 1.21 Page 13 For the Month Ending December 31, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Security Type/Description Next Call Market YTMEffective Duration 5,245,000.00 5,238,707.72 (44,422.00) (36,277.19) 2.61 1.58 Managed Account Sub-Total 2.60 Money Market Fund 0.00 0.00 0.00 19,594.11 1.00 19,594.11 CAMP Pool 0.00 19,594.11 19,594.11 0.00 0.00 0.00 Money Market Sub-Total 0.00 Total Investments $5,276,942.18 $18,640.35 $5,258,301.83 Accrued Interest Securities Sub-Total $5,264,594.11 ($44,422.00) ($36,277.19) 2.61 1.58% 2.60 Page 14 For the Month Ending December 31, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method BUY 12/05/16 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 912828D72 (125,371.09)(662.98)(126,034.07) 125,000.00 12/01/16 12/05/16 NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 65558LWA6 (100,000.00) 0.00 (100,000.00) 100,000.00 12/01/16 12/08/16 FHLB NOTES DTD 12/08/2016 1.250% 01/16/2019 3130AAE46 (99,996.00) 0.00 (99,996.00) 100,000.00 12/07/16 (662.98) (326,030.07)(325,367.09) 325,000.00 Transaction Type Sub-Total INTEREST 12/25/16 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 0.00 32.29 32.29 25,000.00 12/01/16 12/25/16 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 0.00 39.54 39.54 25,000.00 12/01/16 12/25/16 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 0.00 61.73 61.73 45,000.00 12/01/16 12/07/16 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 172967KS9 0.00 253.40 253.40 25,000.00 12/07/16 12/07/16 WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 94974BGR5 0.00 637.50 637.50 50,000.00 12/07/16 12/23/16 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 46625HLW8 0.00 1,375.00 1,375.00 100,000.00 12/23/16 12/24/16 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 166764AE0 0.00 687.20 687.20 80,000.00 12/24/16 12/31/16 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 912828N48 0.00 1,093.75 1,093.75 125,000.00 12/31/16 4,180.41 4,180.41 0.00 475,000.00 Transaction Type Sub-Total SELL 12/05/16 US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 912828UA6 124,677.73 10.73 124,688.46 2,080.07 353.22 SPEC LOT 125,000.00 12/01/16 12/05/16 NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 65558LFA5 100,020.44 22.36 100,042.80 20.44 20.44 SPEC LOT 100,000.00 12/01/16 Page 15 For the Month Ending December 31, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method SELL 12/08/16 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 912828A34 20,057.03 5.49 20,062.52 266.40 152.84 FIFO 20,000.00 12/07/16 12/08/16 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 912828A34 75,213.87 20.61 75,234.48 738.28 448.87 FIFO 75,000.00 12/07/16 59.19 975.37 3,105.19 320,028.26 319,969.07 320,000.00 Transaction Type Sub-Total (5,398.02) 3,576.62 (1,821.40) 3,105.19 975.37 Managed Account Sub-Total Total Security Transactions $3,105.19 ($1,821.40)$3,576.62 ($5,398.02)$975.37 Page 16 For the Month Ending December 31, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 22,925.64 Opening Balance 12/05/16 12/05/16 Purchase - Interest 912828UA6 1.00 10.73 22,936.37 12/05/16 12/05/16 Purchase - Principal 912828UA6 1.00 124,677.73 147,614.10 12/05/16 12/05/16 Purchase - Interest 65558LFA5 1.00 28.75 147,642.85 12/05/16 12/05/16 Purchase - Principal 65558LFA5 1.00 100,020.44 247,663.29 12/05/16 12/05/16 Redemption - Principal 65558LWA6 1.00 (100,000.00) 147,663.29 12/05/16 12/05/16 Redemption - Interest 912828D72 1.00 (662.98) 147,000.31 12/05/16 12/05/16 Redemption - Principal 912828D72 1.00 (125,371.09) 21,629.22 12/07/16 12/07/16 Purchase - Interest 172967KS9 1.00 253.40 21,882.62 12/07/16 12/07/16 Purchase - Interest 94974BGR5 1.00 637.50 22,520.12 12/08/16 12/08/16 Purchase - Interest 912828A34 1.00 5.49 22,525.61 12/08/16 12/08/16 Purchase - Interest 912828A34 1.00 20.61 22,546.22 12/08/16 12/08/16 Purchase - Principal 912828A34 1.00 75,213.87 97,760.09 12/08/16 12/08/16 Purchase - Principal 912828A34 1.00 20,057.03 117,817.12 12/08/16 12/08/16 Redemption - Principal 3130AAE46 1.00 (99,996.00) 17,821.12 12/23/16 12/23/16 Purchase - Interest 46625HLW8 1.00 1,375.00 19,196.12 12/23/16 12/23/16 IP Fees November 2016 1.00 (400.63) 18,795.49 12/23/16 12/23/16 U.S. Bank Fees October 2016 1.00 (27.46) 18,768.03 12/27/16 12/27/16 Purchase - Interest 166764AE0 1.00 687.20 19,455.23 12/27/16 12/27/16 Purchase - Interest 3136ANJY4 1.00 32.29 19,487.52 12/27/16 12/27/16 Purchase - Interest 3136AQDQ0 1.00 61.73 19,549.25 12/27/16 12/27/16 Purchase - Interest 3136AQSW1 1.00 39.54 19,588.79 Page 17 For the Month Ending December 31, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 12/30/16 12/30/16 Purchase - Correction to Interest sold on 65558LFA5 from 12/5/16 1.00 22.36 19,611.15 12/30/16 12/30/16 Redemption - Reversal of Interest sold on 65558LFA5 from 12/5/16 1.00 (28.75) 19,582.40 12/30/16 01/03/17 Accrual Income Div Reinvestment - Distributions 1.00 11.71 19,594.11 19,594.11 19,594.11 19,594.11 19,284.67 91.67 0.00 (3,590,267.79) 3,602,352.25 7,509.65 11.71 19,594.11 0.00 (326,486.91) 323,155.38 22,925.64 Monthly Distribution Yield Average Monthly Balance Closing Balance Fiscal YTDMonth of Cash Dividends and Income Closing Balance Check Disbursements Redemptions (Excl. Checks) Purchases Opening Balance Closing Balance December January-December 0.72% Page 18 Review of Investment Performance CAMP Accounts Investment Performance Review Client Management Team Sarah Meacham, Director 601 South Figueroa, Suite 4500 Los Angeles, CA 90017 213-489-4075 PFM Asset Management LLC One Keystone Plaza, Suite 300 Harrisburg, PA 17101-2044 717-232-2723 For the Quarter Ended September 30, 2016 CITY OF LAKE ELSINORE Market Update QUARTERLY MARKET SUMMARY For the Quarter Ended September 30, 2016 Fixed Income Management Summary •The volatile effects of Britain’s Brexit vote to leave the European Union (EU) quickly dissipated at the beginning of the third quarter as investors concluded that any effects could take up to two years to play out. Investors turned their focus back to fundamental economic factors, such as growth, inflation, and the timing of future rate hikes by the Federal Reserve (Fed). •The Fed left rates unchanged at its third quarter meetings and lowered rate expectations in September. Given the upcoming U.S. presidential election, the market expects no action at the Fed’s November meeting, but holds roughly a 60% chance of a rate hike in December. •Other central banks continued to implement accommodative monetary policy. The European Central Bank (ECB) kept its benchmark interest rate near 0% and continued its 80-billion-euro monthly bond-buying program. Meanwhile, the Bank of Japan (BoJ) introduced two policies: one keeps 10-year Japanese government bond yields near zero percent; the other expands money supply until inflation remains above the 2% target. The Bank of England (BoE) joined the easing by cutting its interest rate to 0.25% from 0.50% and enacting a bond purchase program to the tune of 10 billion pounds a month. Economic Snapshot •The U.S. economy continued to grow at a slow but steady pace. Consumers drove growth in the first half of the year, while business investment lagged. The labor market remained strong, with the unemployment rate remaining below 5% throughout most of the third quarter. The housing market was arguably the economy’s strongest sector as home sales rose to levels not seen since before the 2008 financial crisis. •U.S. gross domestic product (GDP) grew at a 1.4% rate in the second quarter, a modest rebound from the first quarter’s 0.8% rate. Consumer spending drove growth in the second quarter, contributing the most to GDP since 2014, while weakness in business investment detracted the most since 2009. Economic growth is expected to rebound in the third quarter to between 2.5% and 3%. •The unemployment rate ticked up to 5.0% by the end of the third quarter, as the pace of hiring aligned with the pace of economic growth. September’s modest addition of 156,000 jobs rounded out a quarter that added 575,000 jobs, the most jobs added since the first quarter of 2016. Weekly unemployment filings continued to fall to levels not seen since the early 1970s, while job openings reached record levels. Both were positive indications of labor market strength. •Inflation pressures firmed slightly over the third quarter as the personal consumption expenditure (PCE) price index, the Fed’s favored inflation metric, rose 1.7% for the year ended August 31. Housing and medical costs continued to rise. Average hourly earnings, an important measure of wages in the manufacturing sector, grew 2.6% over the 12 months ended September, the 19th consecutive month of greater than 2% year-over-year (YoY) growth. Interest Rates •Interest rates rose significantly in the third quarter, reversing second-quarter declines spurred by Brexit. Short-term yields led the rise, as expectations rebounded for a Fed rate hike this year, slightly flattening the yield curve. The two-year Treasury yield climbed 18 basis points (bps), while the yield on the 10-year Treasury rose 12 bps. •In the money market space, shorter-term Treasury yields rebounded from their second-quarter compression. Short-term credit instruments, like commercial paper and negotiable bank certificates of deposit (CDs), continued to offer significant added income as yields remained elevated ahead of the Securities and Exchange Commission’s money market reform effective October 14. Sector Performance •Returns declined for U.S. Treasury indexes for the third quarter as yields rose, decreasing market values. The declines offset second quarter gains. Shorter maturity issues outperformed longer maturities. •Non-callable federal agency spreads drifted tighter during the quarter, leading to the sector’s modest outperformance relative to comparable- maturity Treasuries. •Corporate yield spreads tightened throughout most of the third quarter, reaching their lowest levels of the year, as Brexit fears abated and investors’ search for yield continued. The sector once again outperformed Treasuries. •Mortgage-backed (MBS) and asset-backed securities (ABS) outperformed Treasuries for the first quarter this year as rising interest rates decreased prepayment risk. 2016 PFM Asset Management LLC 1 QUARTERLY MARKET SUMMARY For the Quarter Ended September 30, 2016 Fixed Income Management Economic Snapshot Source: Bloomberg Labor Market Jun 2016 Sep 2015 Unemployment Rate Aug'16 4.9%4.9%5.1% Change In Non-Farm Payrolls Aug'16 151,000 271,000 149,000 Average Hourly Earnings (YoY)Aug'16 2.4%2.6%2.4% Personal Income (YoY)Aug'16 3.1%3.1%4.0% Initial Jobless Claims (week)9/23/16 254,000 270,000 277,000 Growth Real GDP (QoQ SAAR)2016Q2 1.4%0.8%2.6% GDP Personal Consumption (QoQ SAAR) 2016Q2 4.3%1.6%2.9% Retail Sales (YoY)Aug'16 1.9%2.8%2.1% ISM Manufacturing Survey (month)Aug'16 49.4 53.2 50.0 Existing Home Sales SAAR (month)Aug'16 5.33 mil. 5.57 mil. 5.44 mil. Inflation / Prices Personal Consumption Expenditures (YoY)Aug'16 1.0%0.9%0.2% Consumer Price Index (YoY)Aug'16 1.1%1.0%0.0% Consumer Price Index Core (YoY)Aug'16 2.3%2.3%1.9% Crude Oil Futures (WTI, per barrel)Sep 30 $48.24 $48.33 $45.09 Gold Futures (oz.)Sep 30 $1,313 $1,321 $1,116 Latest 0 50K 100K 150K 200K 250K 300K 350K 400K 4% 5% 6% 7% 8% 9/30/13 3/31/14 9/30/14 3/31/15 9/30/15 3/31/16 Unemployment Rate (left) vs. Change in Nonfarm Payrolls (right) Change In Non-Farm Payrolls Unemployment Rate -2% 0% 2% 4% 6% 6/30/13 12/31/13 6/30/14 12/31/14 6/30/15 12/31/15 6/30/16 Real GDP (QoQ) -1% 0% 1% 2% 3% 9/30/13 3/31/14 9/30/14 3/31/15 9/30/15 3/31/16 Consumer Price Index CPI (YoY)Core CPI (YoY) 2 2 1 1 1. Data as of Fourth Quarter 2015 2. Data as of First Quarter 2015 Note: YoY = year over year, QoQ = quarter over quarter, SAAR = seasonally adjusted annual rate, WTI = West Texas Intermediate crude oil 2016 PFM Asset Management LLC 2 QUARTERLY MARKET SUMMARY For the Quarter Ended September 30, 2016 Fixed Income Management Source: Bloomberg. Interest Rate Overview U.S. Treasury Note Yields U.S. Treasury Yield Curve U.S. Treasury Yields Yield Curves as of 9/30/2016 0.0% 0.5% 1.0% 1.5% 2.0% 6/30/16 7/31/16 8/31/16 9/30/16YieldU.S. Treasury Note Yields 2-Year 5-Year 10-Year -1% 0% 1% 2% 3%3-mo1-yr2-yr3-yr5-yr7-yr10-yr30-yrYieldMaturity U.S. Treasury Yield Curve September 30, 2016 June 30, 2016 September 30, 2015 Maturity 9/30/16 6/30/16 Change over Quarter 9/30/15 Change over Year 3-month 0.28% 0.26% 0.02%(0.02%)0.30% 1-year 0.59%0.44%0.15% 0.31% 0.28% 2-year 0.76% 0.58%0.18%0.63% 0.13% 5-year 1.15%1.00%0.15% 1.36%(0.21%) 10-year 1.60%1.47% 0.13% 2.04%(0.44%) 30-year 2.32% 2.29% 0.03% 2.85%(0.53%) 0% 1% 2% 3% 4%1-yr2-yr3-yr5-yr7-yr10-yr25-yr30-yrYieldMaturity Yield Curves as of 9/30/2016 U.S. Treasury Federal Agency Industrial Corporates, A Rated 2016 PFM Asset Management LLC 3 QUARTERLY MARKET SUMMARY For the Quarter Ended September 30, 2016 Fixed Income Management Returns for periods greater than one year are annualized. Source: BofA Merrill Lynch Indices. Duration Yield 3 Month 1 Year 3 Years 1-3 Year Indices U.S. Treasury 1.90 0.78%(0.11%)0.88%0.85% Federal Agency 1.69 0.90% 0.03% 0.94% 0.95% U.S. Corporates, A-AAA rated 1.90 1.48%0.17% 2.04%1.60% Agency MBS (0 to 3 years)2.22 1.40%0.29% 2.43% 1.67% Taxable Municipals 1.99 1.95% 0.56% 3.44% 2.71% 1-5 Year Indices U.S. Treasury 2.73 0.90%(0.19%)1.52% 1.43% Federal Agency 2.14 0.98%0.00%1.36%1.41% U.S. Corporates, A-AAA rated 2.76 1.66%0.30% 3.01% 2.44% Agency MBS (0 to 5 years)3.29 1.81% 0.61%3.29% 2.91% Taxable Municipals 2.64 1.90% 0.52%4.16%3.64% Master Indices (Maturities 1 Year or Greater) U.S. Treasury 6.59 1.28%(0.33%)4.33% 3.70% Federal Agency 3.90 1.27% 0.13% 2.98% 2.82% U.S. Corporates, A-AAA rated 7.16 2.46% 0.89% 7.52% 5.38% Agency MBS (0 to 30 years)3.49 1.90%0.61%3.66% 3.57% Taxable Municipals 4.09 2.43% 0.09% 5.53% 5.19% As of 9/30/16 Returns for Periods ended 9/30/16 2016 PFM Asset Management LLC BofA Merrill Lynch Index Returns 4 QUARTERLY MARKET SUMMARY For the Quarter Ended September 30, 2016 Fixed Income Management Disclosures The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC (PFMAM) at the time of distribution and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFMAM cannot guarantee its accuracy, completeness, or suitability. This material is for general information purposes only and is not intended to provide specific advice or recommendation. The information contained in this report is not an offer to purchase or sell any securities. PFMAM is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. PFMAM’s clients are state and local governments, non-profit corporations, pension funds, and similar institutional investors. www.pfm.com © 2016 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 2016 PFM Asset Management LLC 5 Investment Performance Review 2016 PFM Asset Management LLC For the Quarter Ended September 30, 2016 Strategy RecapCITY OF LAKE ELSINORE •Yields drifted modestly higher during the third quarter as early-quarter Brexit fears faded and U.S. economic data rebounded, bringing the Fed closer to an eventual rate hike, perhaps in December. •Our primary strategy involved emphasizing allocations to credit instruments, including corporate notes and negotiable certificates of deposit (CDs). Credit sectors provided incremental yield, a key contributor to return in a low rate environment. •We generally held current allocations to corporate notes stable, as some measures of value began to get more expensive during the quarter, especially for issuers in the industrial sector. The sector’s strong performance during the quarter added to its strong outperformance for the year. •We found excellent value in 6-12 month negotiable CDs. Money market fund reforms that became effective in October have caused a huge shift in assets from prime funds, which typically purchase short credit instruments, to government-only funds. This swing in assets caused yield spreads to widen sharply, creating enhanced value in these sectors. •A modest amount of mortgage-backed securities (MBS) were also held. Gradually rising interest rates slowed MBS prepayments and resulted in the MBS sector strongly outperforming Treasuries for the quarter. •Given the uncertain rate environment, we generally maintained the portfolio’s duration and maturity distribution to be comparable to the benchmark to reduce potential performance mismatches. 6 For the Quarter Ended September 30, 2016 Outlook and Strategy 2016 PFM Asset Management LLC CITY OF LAKE ELSINORE •Our strategy continues to favor broad allocation to various credit sectors, including corporate notes and negotiable bank CDs. •We believe the best opportunities in the corporate sector are currently with issuers in the financial industry where capital is strong and valuations are fair. We are monitoring industrial issues, where valuations are generally rich and may not align with fundamentals, which are being pressured by increased leverage. At today’s narrower yield spreads, new purchases will be more selective. •Yields on negotiable CDs continue to offer significant yield pickup relative to short-term government securities as October money market reform has kept spread levels elevated. •Agency yield spreads moved modestly tighter during the third quarter but still offer value in certain maturities. New issues, which typically offer a yield concession, offer the best opportunities. •As we have done for most of the year, we plan to keep the duration and maturity distribution of the portfolio generally in line with the benchmark unless short-term credit securities offer better value. •We will continue to monitor incoming economic data to assess and confirm the prospect for a Fed rate hike by year-end. 7 For the Quarter Ended September 30, 2016 Sector Allocation and Compliance 2016 PFM Asset Management LLC CITY OF LAKE ELSINORE Security Type September 30, 2016 % of Portfolio Permitted by Policy In Compliance U.S. Treasuries $13,563,510 33%100% Federal Agencies (Non-Callable)$12,077,556 30%100% Non-callable GSEs 2 $429,241 1%100% Certificates of Deposit $4,914,372 12%30% Municipal Obligations $356,718 1%100% Agency CMO $719,893 2%20% Medium-Term Corporate Notes $8,945,687 22%30% CAMP Cash Reserve Portfolio $90,897 <1%100% Totals $40,668,633 100% End of quarter trade-date market values of portfolio holdings, including accrued interested. Numbers may not add up to 100% due to rounding. •The portfolio is in compliance with the City of Lake Elsinore and California Government Code. 8 For the Quarter Ended September 30, 2016 Total Return 2016 PFM Asset Management LLC CITY OF LAKE ELSINORE Duration (Years)Past Quarter Past Year Past 3 Years Past 5 Years Since Inception City Funds Portfolio 2.67 -0.07%1.93%1.63%1.39%1.60% Successor Agency Portfolio 2.66 -0.08%1.82%1.62%1.32%1.61% Housing Funds Portfolio 2.68 -0.09%1.84%1.59%-1.27% BAML 1-5 Year U.S Treasury Index2 2.66 -0.19%1.52%1.43%1.11%4 1.29%5 1.53%6 1.11%7 Note: 1.Performance on trade-date basis, gross (i.e., before fees), in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS). 2.Merrill Lynch Indices provided by Bloomberg Financial Markets. 3.Quarterly returns are presented on an unannualized basis. Performance numbers for periods greater than one year are presented on an annualized basis. 4.Past 5 Years BAML 1-5 Year US Treasury Index Total Return refers to the City Funds and Successor Agency Portfolios only. 5.The City Funds portfolio’s inception date is September, 2010. 6.The Successor Agency portfolio’s inception date is March, 2011. 7.The Housing Fund portfolio’s inception date is June, 2012. 9 City Funds Portfolio CAMP-LAKE ELSINORE CITY FUNDS For the Quarter Ended September 30, 2016 Portfolio Snapshot Portfolio Statistics As of September 30, 2016 29,714,977 30,212,854 30,015,508 122,369 - 29,881,376 1.11% 1.39% AAAverage Credit: ** Yield at Cost: Accrued Interest: Cash: Par Value: Amortized Cost: Total Market Value: Yield at Market: Security Market Value: Effective Duration:2.67 Years Duration to Worst:2.67 Years Average Maturity:2.77 Years CAMP 74,977 Credit Quality (S&P Ratings) 3.3% A 3.1% A- 4.3% A+ 5.7% A-1 1.9% A-1+ 1.8% AA 13.4% AA- 64.8% AA+ 0.3% AAAm 1.4% BBB+* 0% 4% 8% 12% 16% 20% 24% 28% 0 - 1 Year 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years > 5 Years 9.4% 21.5% 27.3% 20.4%21.3% 0.0% Maturity Distribution Sector Allocation 13.6% Certificate of Deposit 21.4% Corporate 1.8% Federal Agency/CMO 29.2% Federal Agency/GSE 0.3% Mny Mkt Fund / Pool 1.0% Municipal 32.7% U.S. Treasury 2016 PFM Asset Management LLC *Goldman Sachs Group and Citigroup Inc Group Corporate notes (rated A by Fitch). ** An average of each security’s credit rating assigned a numeric value and adjusted for its relative weighting in the portfolio. 10 CAMP-LAKE ELSINORE CITY FUNDS For the Quarter Ended September 30, 2016 Portfolio Performance Portfolio Earnings Quarter-Ended September 30, 2016 Market Value Basis Accrual (Amortized Cost) Basis Net Purchases/Sales Change in Value Interest Earned $30,134,212.86 $94,248.53 ($137,975.96) $116,211.62 ($21,764.34) $30,090,485.43 $29,729,618.19 $94,248.53 $57,509.02 $116,211.62 $173,720.64 $29,881,375.74 Portfolio Earnings Beginning Value (06/30/2016) Ending Value (09/30/2016) 2016 PFM Asset Management LLC 11 CAMP-LAKE ELSINORE CITY FUNDS For the Quarter Ended September 30, 2016 Portfolio Composition Issuer Distribution As of September 30, 2016 Market Value ($)% of PortfolioIssuer UNITED STATES TREASURY 9,875,043 32.8% FANNIE MAE 5,140,771 17.1% FEDERAL HOME LOAN BANKS 2,338,486 7.8% FREDDIE MAC 1,840,517 6.1% CHEVRON CORP 768,641 2.6% US BANCORP 702,038 2.3% TORONTO-DOMINION BANK 625,294 2.1% JP MORGAN CHASE & CO 591,705 2.0% AMERICAN HONDA FINANCE 589,267 2.0% CISCO SYSTEMS INC 581,150 1.9% ROYAL BANK OF CANADA 577,717 1.9% BANK OF NOVA SCOTIA 576,918 1.9% SKANDINAVISKA ENSKIDA BANKEN AB 575,863 1.9% HSBC HOLDINGS PLC 575,058 1.9% NORDEA BANK AB 574,736 1.9% CANADIAN IMPERIAL BANK OF COMMERCE 574,281 1.9% WELLS FARGO & COMPANY 453,275 1.5% BERKSHIRE HATHAWAY INC 402,320 1.3%Top 5 = 66.4%Top 10 = 76.6%2016 PFM Asset Management LLC 12 CAMP-LAKE ELSINORE CITY FUNDS For the Quarter Ended September 30, 2016 Portfolio Composition Market Value ($)% of PortfolioIssuer APPLE INC 309,568 1.0% BANK OF NEW YORK CO INC 308,314 1.0% GOLDMAN SACHS GROUP INC 301,998 1.0% GENERAL ELECTRIC CO 282,477 0.9% IBM CORP 250,302 0.8% TOYOTA MOTOR CORP 204,232 0.7% AMERICAN EXPRESS CO 203,068 0.7% STATE OF CONNECTICUT 167,579 0.6% BURLINGTON NORTHERN SANTA FE 164,850 0.6% BB&T CORPORTATION 151,566 0.5% UNIVERSITY OF CALIFORNIA 127,105 0.4% CITIGROUP INC 105,799 0.4% STATE STREET CORPORATION 75,573 0.3% CAMP POOL 74,977 0.3% 30,090,485 100.0%Grand Total: 2016 PFM Asset Management LLC 13 Successor Agency Portfolio CAMP-LAKE ELSINORE-SUCCESSOR AGENCY For the Quarter Ended September 30, 2016 Portfolio Snapshot Portfolio Statistics As of September 30, 2016 5,246,348 5,330,263 5,297,922 20,994 - 5,270,796 1.08% 1.38% AAAverage Credit: ** Yield at Cost: Accrued Interest: Cash: Par Value: Amortized Cost: Total Market Value: Yield at Market: Security Market Value: Effective Duration:2.66 Years Duration to Worst:2.67 Years Average Maturity:2.76 Years CAMP 11,348 Credit Quality (S&P Ratings) 4.3% A 2.4% A- 6.7% A+ 1.9% A-1 1.9% A-1+ 9.7% AA- 71.5% AA+ 0.2% AAAm 1.4% BBB+* 0% 5% 10% 15% 20% 25% 30% 35% 0 - 1 Year 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years > 5 Years 6.8% 21.9% 34.8% 15.1% 21.4% 0.0% Maturity Distribution Sector Allocation 7.6% Certificate of Deposit 21.2% Corporate 1.8% Federal Agency/CMO 34.3% Federal Agency/GSE 0.2% Mny Mkt Fund / Pool 0.6% Municipal 34.3% U.S. Treasury 2016 PFM Asset Management LLC * Goldman Sachs Group and Citigroup Inc Group Corporate notes (rated A by Fitch). ** An average of each security’s credit rating assigned a numeric value and adjusted for its relative weighting in the portfolio. 14 CAMP-LAKE ELSINORE-SUCCESSOR AGENCY For the Quarter Ended September 30, 2016 Portfolio Performance Portfolio Earnings Quarter-Ended September 30, 2016 Market Value Basis Accrual (Amortized Cost) Basis Net Purchases/Sales Change in Value Interest Earned $5,318,661.46 $14,802.30 ($24,194.28) $19,915.51 ($4,278.77) $5,309,269.48 $5,244,969.07 $14,802.30 $11,024.79 $19,915.51 $30,940.30 $5,270,796.16 Portfolio Earnings Beginning Value (06/30/2016) Ending Value (09/30/2016) 2016 PFM Asset Management LLC 15 CAMP-LAKE ELSINORE-SUCCESSOR AGENCY For the Quarter Ended September 30, 2016 Portfolio Composition Issuer Distribution As of September 30, 2016 Market Value ($)% of PortfolioIssuer UNITED STATES TREASURY 1,826,174 34.4% FANNIE MAE 1,159,018 21.8% FEDERAL HOME LOAN BANKS 473,120 8.9% FREDDIE MAC 283,709 5.3% US BANCORP 250,728 4.7% BANK OF NEW YORK CO INC 126,593 2.4% JP MORGAN CHASE & CO 102,905 1.9% AMERICAN HONDA FINANCE 102,481 1.9% CISCO SYSTEMS INC 101,956 1.9% ROYAL BANK OF CANADA 100,473 1.9% SKANDINAVISKA ENSKIDA BANKEN AB 100,150 1.9% IBM CORP 100,121 1.9% HSBC HOLDINGS PLC 100,010 1.9% NORDEA BANK AB 99,954 1.9% CHEVRON CORP 80,705 1.5% APPLE INC 54,923 1.0% WELLS FARGO & COMPANY 50,981 1.0% GOLDMAN SACHS GROUP INC 50,333 1.0%Top 5 = 75.2%Top 10 = 85.3%2016 PFM Asset Management LLC 16 CAMP-LAKE ELSINORE-SUCCESSOR AGENCY For the Quarter Ended September 30, 2016 Portfolio Composition Market Value ($)% of PortfolioIssuer STATE OF CONNECTICUT 30,469 0.6% BURLINGTON NORTHERN SANTA FE 27,475 0.5% BB&T CORPORTATION 25,261 0.5% STATE STREET CORPORATION 25,191 0.5% CITIGROUP INC 25,190 0.5% CAMP POOL 11,348 0.2% 5,309,269 100.0%Grand Total: 2016 PFM Asset Management LLC 17 Housing Funds Portfolio CAMP-LAKE ELSINORE HOUSING FUNDS For the Quarter Ended September 30, 2016 Portfolio Snapshot Portfolio Statistics As of September 30, 2016 5,049,571 5,125,515 5,102,045 18,898 - 5,075,910 1.11% 1.36% AAAverage Credit: ** Yield at Cost: Accrued Interest: Cash: Par Value: Amortized Cost: Total Market Value: Yield at Market: Security Market Value: Effective Duration:2.68 Years Duration to Worst:2.69 Years Average Maturity:2.78 Years CAMP 4,571 Credit Quality (S&P Ratings) 7.4% A 2.5% A- 4.5% A+ 2.0% A-1 2.0% A-1+ 13.5% AA- 66.6% AA+ 0.1% AAAm 1.5% BBB+* 0% 4% 8% 12% 16% 20% 24% 28% 0 - 1 Year 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years > 5 Years 5.5% 27.6% 24.6% 19.5% 22.8% 0.0% Maturity Distribution Sector Allocation 7.8% Certificate of Deposit 25.9% Corporate 1.9% Federal Agency/CMO 28.1% Federal Agency/GSE 0.1% Mny Mkt Fund / Pool 0.6% Municipal 35.6% U.S. Treasury * Goldman Sachs Group and Citigroup Inc Group Corporate notes (rated A by Fitch). ** An average of each security’s credit rating assigned a numeric value and adjusted for its relative weighting in the portfolio. 2016 PFM Asset Management LLC 18 CAMP-LAKE ELSINORE HOUSING FUNDS For the Quarter Ended September 30, 2016 Portfolio Performance Portfolio Earnings Quarter-Ended September 30, 2016 Market Value Basis Accrual (Amortized Cost) Basis Net Purchases/Sales Change in Value Interest Earned $5,114,029.86 $15,869.39 ($23,282.47) $18,929.74 ($4,352.73) $5,106,616.78 $5,051,315.83 $15,869.39 $8,724.69 $18,929.74 $27,654.43 $5,075,909.91 Portfolio Earnings Beginning Value (06/30/2016) Ending Value (09/30/2016) 2016 PFM Asset Management LLC 19 CAMP-LAKE ELSINORE HOUSING FUNDS For the Quarter Ended September 30, 2016 Portfolio Composition Issuer Distribution As of September 30, 2016 Market Value ($)% of PortfolioIssuer UNITED STATES TREASURY 1,816,044 35.6% FANNIE MAE 1,006,921 19.7% FEDERAL HOME LOAN BANKS 523,313 10.3% CHEVRON CORP 255,578 5.0% WELLS FARGO & COMPANY 176,273 3.5% BANK OF NEW YORK CO INC 151,662 3.0% US BANCORP 125,364 2.5% JP MORGAN CHASE & CO 102,905 2.0% AMERICAN HONDA FINANCE 102,481 2.0% CISCO SYSTEMS INC 101,956 2.0% ROYAL BANK OF CANADA 100,473 2.0% SKANDINAVISKA ENSKIDA BANKEN AB 100,150 2.0% IBM CORP 100,121 2.0% HSBC HOLDINGS PLC 100,010 2.0% NORDEA BANK AB 99,954 2.0% APPLE INC 54,923 1.1% GOLDMAN SACHS GROUP INC 50,333 1.0% STATE OF CONNECTICUT 30,469 0.6%Top 5 = 74.0%Top 10 = 85.4%2016 PFM Asset Management LLC 20 CAMP-LAKE ELSINORE HOUSING FUNDS For the Quarter Ended September 30, 2016 Portfolio Composition Market Value ($)% of PortfolioIssuer BURLINGTON NORTHERN SANTA FE 27,475 0.5% BB&T CORPORTATION 25,261 0.5% STATE STREET CORPORATION 25,191 0.5% CITIGROUP INC 25,190 0.5% CAMP POOL 4,571 0.1% 5,106,617 100.0%Grand Total: 2016 PFM Asset Management LLC 21 Portfolio Holdings For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 04/15/2015 0.750% 04/15/2018 295,046.02 294,611.96 1,021.62 294,504.49 04/27/1604/22/16AaaAA+ 295,000.00 912828K25 0.84 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 373,411.03 368,733.54 1,554.30 367,412.89 06/03/1406/02/14AaaAA+ 370,000.00 912828A34 1.41 US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 384,345.75 378,904.61 18.03 380,815.43 03/27/1503/26/15AaaAA+ 375,000.00 912828F39 1.39 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 1,052,091.60 1,035,636.63 3,528.69 1,029,738.28 05/29/1505/28/15AaaAA+ 1,050,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 554,962.65 546,033.83 588.74 544,822.27 09/03/1509/02/15AaaAA+ 550,000.00 912828UQ1 1.47 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 1,160,376.45 1,138,534.11 1,231.01 1,135,625.00 11/09/1511/05/15AaaAA+ 1,150,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 595,281.98 583,985.01 1,937.50 585,848.63 12/04/1512/01/15AaaAA+ 575,000.00 912828VP2 1.58 US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 1,092,451.50 1,065,344.06 1,910.74 1,068,169.92 12/30/1512/28/15AaaAA+ 1,050,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 862,082.76 853,458.46 6,151.63 855,553.13 02/03/1602/01/16AaaAA+ 840,000.00 912828WC0 1.35 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 155,484.30 153,777.85 1,008.20 154,283.20 03/04/1603/02/16AaaAA+ 150,000.00 912828A42 1.38 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 394,599.75 391,899.47 2,250.76 393,837.89 03/31/1603/30/16AaaAA+ 375,000.00 912828A83 1.28 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 821,375.20 813,326.05 3,538.04 814,343.75 05/31/1605/27/16AaaAA+ 800,000.00 912828N48 1.35 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 596,360.10 601,744.83 984.81 603,121.09 07/08/1607/06/16AaaAA+ 575,000.00 912828B90 0.92 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 291,517.86 293,498.83 9.96 293,692.97 06/29/1606/27/16AaaAA+ 290,000.00 912828Q37 0.98 22 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 1,245,656.40 1,242,426.92 8,065.57 1,243,125.00 09/02/1609/01/16AaaAA+ 1,200,000.00 912828WN6 1.22 33,799.60 9,875,043.35 9,761,916.16 1.38 9,764,893.94 9,645,000.00 Security Type Sub-Total Municipal Bond / Note UNIV OF CAL TXBL REV BONDS DTD 04/10/2014 1.904% 05/15/2018 127,105.00 125,000.00 899.11 125,000.00 04/10/1404/04/14Aa2AA 125,000.00 91412GUV5 1.90 CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 167,578.95 165,290.44 144.76 165,463.65 03/25/1503/16/15Aa3AA- 165,000.00 20772JZK1 1.90 1,043.87 294,683.95 290,290.44 1.90 290,463.65 290,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 135,495.76 135,590.30 174.38 136,349.51 04/30/1504/15/15AaaAA+ 135,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 126,036.26 125,851.62 197.74 126,249.99 11/30/1511/06/15AaaAA+ 125,000.00 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 266,313.76 266,931.04 363.49 267,653.68 10/30/1510/07/15AaaAA+ 265,000.00 3136AQDQ0 1.08 735.61 527,845.78 528,372.96 1.05 530,253.18 525,000.00 Security Type Sub-Total Federal Agency Bond / Note FREDDIE MAC GLOBAL NOTES DTD 08/10/2012 1.000% 09/29/2017 275,856.90 275,594.69 15.28 277,934.25 10/05/1210/04/12AaaAA+ 275,000.00 3137EADL0 0.78 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 400,355.20 397,963.41 1,263.89 393,940.00 05/31/1305/24/13AaaAA+ 400,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 575,510.60 573,376.98 1,816.84 570,141.25 05/24/1305/22/13AaaAA+ 575,000.00 3135G0WJ8 1.05 FHLB NOTES DTD 07/08/2016 0.625% 08/07/2018 896,491.80 896,846.53 843.75 896,616.00 08/12/1608/11/16AaaAA+ 900,000.00 3130A8PK3 0.82 23 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 355,653.90 350,005.80 1,959.03 350,010.50 06/19/1406/16/14AaaAA+ 350,000.00 3135G0YT4 1.62 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 635,096.25 628,168.56 3,498.26 630,937.50 10/23/1410/22/14AaaAA+ 625,000.00 3135G0YT4 1.39 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 726,028.78 723,628.96 704.86 723,289.00 02/23/1602/19/16AaaAA+ 725,000.00 3135G0J53 1.08 FREDDIE MAC NOTES DTD 03/21/2016 1.125% 04/15/2019 753,330.75 754,303.18 4,453.13 754,515.00 08/15/1608/12/16AaaAA+ 750,000.00 3137EADZ9 0.90 FREDDIE MAC NOTES DTD 04/16/2012 1.750% 05/30/2019 382,830.38 377,560.38 2,205.73 379,260.00 12/03/1412/01/14AaaAA+ 375,000.00 3137EADG1 1.49 FHLMC REFERENCE NOTE DTD 07/20/2016 0.875% 07/19/2019 428,498.87 429,027.05 742.05 428,959.40 07/20/1607/19/16AaaAA+ 430,000.00 3137EAEB1 0.96 FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 722,181.20 723,847.76 1,039.67 723,782.00 08/02/1607/29/16AaaAA+ 725,000.00 3135G0N33 0.93 FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 722,320.40 723,680.55 1,004.43 723,608.00 08/04/1608/03/16AaaAA+ 725,000.00 3130A8Y72 0.94 FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 599,724.00 599,088.88 483.33 599,064.00 09/02/1608/31/16AaaAA+ 600,000.00 3135G0P49 1.05 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 719,674.15 720,772.37 1,744.53 720,591.28 07/15/1607/14/16AaaAA+ 725,000.00 3130A8QS5 1.25 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 139,620.88 139,531.91 204.17 139,521.06 08/19/1608/17/16AaaAA+ 140,000.00 3135G0N82 1.32 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 458,754.32 458,179.21 670.83 458,137.00 08/19/1608/17/16AaaAA+ 460,000.00 3135G0N82 1.33 22,649.78 8,791,928.38 8,771,576.22 1.09 8,770,306.24 8,780,000.00 Security Type Sub-Total Corporate Note 24 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 702,038.40 700,000.00 4,363.33 714,952.00 07/30/1207/25/12A1A+ 700,000.00 91159HHD5 1.19 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 149,890.80 150,000.00 533.60 150,000.00 12/05/1211/28/12Aa2AA- 150,000.00 166764AA8 1.10 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 174,872.60 175,214.95 622.53 175,946.75 12/05/1211/29/12Aa2AA- 175,000.00 166764AA8 0.99 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 250,301.50 249,682.68 460.07 248,855.00 02/08/1302/05/13Aa3AA- 250,000.00 459200HK0 1.35 BERKSHIRE HATHAWAY GLOBAL NOTE DTD 02/11/2013 1.550% 02/09/2018 402,319.60 399,844.76 895.56 399,444.00 02/11/1301/29/13Aa2AA 400,000.00 084670BH0 1.58 APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 309,567.86 309,629.87 1,274.44 308,856.10 05/03/1304/30/13Aa1AA+ 310,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 443,877.72 440,000.00 2,036.78 440,000.00 06/24/1306/17/13Aa2AA- 440,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 275,281.47 271,407.08 478.13 272,565.00 09/04/1408/29/14A1AA- 270,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 305,868.30 301,968.80 531.25 302,817.00 09/04/1509/01/15A1AA- 300,000.00 17275RAR3 1.85 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 50,333.00 49,880.56 433.33 49,861.00 04/25/1604/20/16A3BBB+ 50,000.00 38141GVT8 2.10 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 251,665.00 249,862.46 2,166.67 249,840.00 04/26/1604/21/16A3BBB+ 250,000.00 38141GVT8 2.02 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 105,799.47 104,950.90 669.67 104,945.40 06/09/1606/02/16Baa1BBB+ 105,000.00 172967KS9 2.07 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 589,266.90 574,363.80 1,653.13 573,936.25 09/09/1409/04/14A1A+ 575,000.00 02665WAH4 2.29 25 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 164,849.55 164,143.88 3,525.00 165,585.00 06/08/1606/03/16A3A 150,000.00 12189TBC7 1.48 GENERAL ELECTRIC CAP CORP NOTES DTD 01/08/2010 5.500% 01/08/2020 282,476.75 277,109.56 3,170.14 289,082.50 03/25/1503/20/15A1AA- 250,000.00 36962G4J0 2.05 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 75,545.78 75,201.72 273.23 75,288.00 03/27/1503/24/15A2A 75,000.00 94974BGF1 2.07 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 377,728.88 376,779.40 1,366.15 377,621.25 02/05/1502/02/15A2A 375,000.00 94974BGF1 2.00 TOYOTA MOTOR CORP NOTES DTD 03/12/2015 2.150% 03/12/2020 204,232.00 201,253.31 226.94 201,776.00 03/27/1503/23/15Aa3AA- 200,000.00 89236TCF0 1.96 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 591,705.48 577,248.30 4,304.51 577,857.75 09/04/1509/01/15A3A- 575,000.00 46625HLW8 2.64 BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 308,313.60 306,489.63 4,625.00 306,978.00 05/19/1605/16/16A1A 300,000.00 06406FAA1 2.00 AMERICAN EXPRESS CREDIT CORP NOTES DTD 05/05/2016 2.250% 05/05/2021 203,068.00 199,566.99 1,825.00 199,536.00 05/31/1605/25/16A2A- 200,000.00 0258M0EB1 2.30 BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 151,566.45 149,908.29 1,204.38 149,901.00 05/16/1605/10/16A2A- 150,000.00 05531FAV5 2.06 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 75,572.55 74,735.72 536.25 74,716.50 05/24/1605/19/16A1A 75,000.00 857477AV5 2.03 37,175.09 6,446,141.66 6,379,242.66 1.82 6,410,360.50 6,325,000.00 Security Type Sub-Total Certificate of Deposit CANADIAN IMPERIAL BANK NY YCD DTD 04/10/2015 1.010% 04/06/2017 574,281.25 575,000.00 2,823.09 575,000.00 04/10/1504/06/15P-1A-1 575,000.00 13606JYY9 1.01 NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 574,735.50 575,000.00 2,351.11 575,000.00 05/29/1505/27/15Aa3AA- 575,000.00 65558LFA5 1.15 26 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Certificate of Deposit TORONTO DOMINION BANK NY YCD DTD 06/19/2015 1.240% 06/16/2017 625,293.75 625,000.00 2,217.36 625,000.00 06/19/1506/16/15Aa1AA- 625,000.00 89113ESN7 1.25 BANK OF NOVA SCOTIA HOUSTON YCD DTD 11/09/2015 1.560% 11/06/2017 576,917.63 575,000.00 3,612.92 575,000.00 11/09/1511/06/15P-1A-1 575,000.00 06417GAS7 1.55 SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 575,862.50 575,000.00 7,540.81 575,000.00 11/17/1511/16/15P-1A-1 575,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 575,057.50 575,000.00 7,821.92 575,000.00 11/18/1511/17/15P-1A-1+ 575,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 577,716.88 575,000.00 597.36 575,000.00 03/15/1603/11/16Aa3AA- 575,000.00 78009NZZ2 1.69 26,964.57 4,079,865.01 4,075,000.00 1.38 4,075,000.00 4,075,000.00 Security Type Sub-Total 29,640,000.00 29,841,277.51 1.39 122,368.52 29,806,398.44 30,015,508.13 Managed Account Sub-Total Money Market Fund CAMP Pool 74,977.30 74,977.30 0.00 74,977.30 NRAAAm 74,977.30 74,977.30 74,977.30 0.00 74,977.30 74,977.30 Money Market Sub-Total $29,714,977.30 $29,916,254.81 $122,368.52 $29,881,375.74 $30,090,485.43 1.39% $30,212,853.95 $122,368.52 Total Investments Accrued Interest Securities Sub-Total 27 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 124,902.38 124,203.84 262.55 122,597.66 05/09/1405/06/14AaaAA+ 125,000.00 912828UA6 1.18 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 20,184.38 19,895.34 84.02 19,790.63 07/07/1407/01/14AaaAA+ 20,000.00 912828A34 1.50 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 75,691.43 74,743.29 315.06 74,475.59 06/03/1406/02/14AaaAA+ 75,000.00 912828A34 1.41 US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 179,361.35 176,822.15 8.41 177,713.87 03/27/1503/26/15AaaAA+ 175,000.00 912828F39 1.39 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 200,398.40 197,264.12 672.13 196,140.63 05/29/1505/28/15AaaAA+ 200,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 176,579.03 173,255.19 187.33 172,812.50 11/09/1511/05/15AaaAA+ 175,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 103,527.30 101,562.61 336.96 101,886.72 12/04/1512/01/15AaaAA+ 100,000.00 912828VP2 1.58 US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 192,479.55 187,703.48 336.65 188,201.37 12/30/1512/28/15AaaAA+ 185,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 102,628.90 101,602.20 732.34 101,851.56 02/03/1602/01/16AaaAA+ 100,000.00 912828WC0 1.35 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 181,398.35 179,407.49 1,176.23 179,997.07 03/04/1603/02/16AaaAA+ 175,000.00 912828A42 1.38 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 128,339.88 127,082.20 552.82 127,241.21 05/31/1605/27/16AaaAA+ 125,000.00 912828N48 1.35 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 77,786.10 78,488.46 128.45 78,667.97 07/08/1607/06/16AaaAA+ 75,000.00 912828B90 0.92 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 55,287.87 55,663.57 1.89 55,700.39 06/29/1606/27/16AaaAA+ 55,000.00 912828Q37 0.98 US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 207,609.40 207,071.15 1,344.26 207,187.50 09/02/1609/01/16AaaAA+ 200,000.00 912828WN6 1.22 28 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par 6,139.10 1,826,174.32 1,804,765.09 1.39 1,804,264.67 1,785,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 30,468.90 30,052.81 26.32 30,084.30 03/25/1503/16/15Aa3AA- 30,000.00 20772JZK1 1.90 26.32 30,468.90 30,052.81 1.90 30,084.30 30,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 25,091.81 25,109.32 32.29 25,249.91 04/30/1504/15/15AaaAA+ 25,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 25,207.25 25,170.33 39.54 25,250.00 11/30/1511/06/15AaaAA+ 25,000.00 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 45,223.09 45,327.92 61.73 45,450.63 10/30/1510/07/15AaaAA+ 45,000.00 3136AQDQ0 1.08 133.56 95,522.15 95,607.57 1.05 95,950.54 95,000.00 Security Type Sub-Total Federal Agency Bond / Note FANNIE MAE GLOBAL NOTES DTD 09/24/2012 0.875% 10/26/2017 125,204.88 124,730.91 470.92 124,033.75 12/03/1311/27/13AaaAA+ 125,000.00 3135G0PQ0 1.08 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 75,066.60 74,618.14 236.98 73,863.75 05/31/1305/24/13AaaAA+ 75,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 100,088.80 99,717.74 315.97 99,155.00 05/24/1305/22/13AaaAA+ 100,000.00 3135G0WJ8 1.05 FHLB NOTES DTD 07/08/2016 0.625% 08/07/2018 99,610.20 99,649.61 93.75 99,624.00 08/12/1608/11/16AaaAA+ 100,000.00 3130A8PK3 0.82 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 106,696.17 105,532.32 587.71 105,997.50 10/23/1410/22/14AaaAA+ 105,000.00 3135G0YT4 1.39 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 127,019.25 125,002.07 699.65 125,003.75 06/19/1406/16/14AaaAA+ 125,000.00 3135G0YT4 1.62 29 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 50,070.95 50,119.31 48.61 50,126.50 08/08/1608/05/16AaaAA+ 50,000.00 3135G0J53 0.90 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 125,177.38 124,763.61 121.53 124,705.00 02/23/1602/19/16AaaAA+ 125,000.00 3135G0J53 1.08 FREDDIE MAC NOTES DTD 03/21/2016 1.125% 04/15/2019 130,577.33 130,745.88 771.88 130,782.60 08/15/1608/12/16AaaAA+ 130,000.00 3137EADZ9 0.90 FREDDIE MAC NOTES DTD 04/16/2012 1.750% 05/30/2019 153,132.15 151,024.15 882.29 151,704.00 12/03/1412/01/14AaaAA+ 150,000.00 3137EADG1 1.49 FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 124,514.00 124,801.34 179.25 124,790.00 08/02/1607/29/16AaaAA+ 125,000.00 3135G0N33 0.93 FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 124,538.00 124,772.51 173.18 124,760.00 08/04/1608/03/16AaaAA+ 125,000.00 3130A8Y72 0.94 FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 124,942.50 124,810.18 100.69 124,805.00 09/02/1608/31/16AaaAA+ 125,000.00 3135G0P49 1.05 FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 124,890.50 124,893.27 17.36 124,891.25 09/09/1609/08/16AaaAA+ 125,000.00 3130A9EP2 1.03 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 124,081.75 124,271.10 300.78 124,239.88 07/15/1607/14/16AaaAA+ 125,000.00 3130A8QS5 1.25 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 24,932.30 24,916.42 36.46 24,914.48 08/19/1608/17/16AaaAA+ 25,000.00 3135G0N82 1.32 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 79,783.36 79,683.34 116.67 79,676.00 08/19/1608/17/16AaaAA+ 80,000.00 3135G0N82 1.33 5,153.68 1,820,326.12 1,814,051.90 1.14 1,813,072.46 1,815,000.00 Security Type Sub-Total Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 250,728.00 250,000.00 1,558.33 255,340.00 07/30/1207/25/12A1A+ 250,000.00 91159HHD5 1.19 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 100,120.60 99,873.07 184.03 99,542.00 02/08/1302/05/13Aa3AA- 100,000.00 459200HK0 1.35 30 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 75,206.93 74,993.63 70.31 74,978.25 03/06/1303/04/13A1A 75,000.00 06406HCJ6 1.36 APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 54,923.33 54,934.33 226.11 54,797.05 05/03/1304/30/13Aa1AA+ 55,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 80,705.04 80,000.00 370.32 80,000.00 06/24/1306/17/13Aa2AA- 80,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 50,978.05 50,260.57 88.54 50,475.00 09/04/1408/29/14A1AA- 50,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 50,978.05 50,328.13 88.54 50,469.50 09/04/1509/01/15A1AA- 50,000.00 17275RAR3 1.85 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 50,333.00 49,972.49 433.33 49,968.00 04/26/1604/21/16A3BBB+ 50,000.00 38141GVT8 2.02 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 25,190.35 24,988.31 159.44 24,987.00 06/09/1606/02/16Baa1BBB+ 25,000.00 172967KS9 2.07 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 102,481.20 99,889.36 287.50 99,815.00 09/09/1409/04/14A1A+ 100,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 27,474.93 27,357.31 587.50 27,597.50 06/08/1606/03/16A3A 25,000.00 12189TBC7 1.48 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 102,905.30 100,391.01 748.61 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 50,981.20 51,017.36 403.75 51,108.00 05/10/1605/06/16A2A 50,000.00 94974BGR5 2.04 BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 51,385.60 51,068.62 770.83 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00 BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 25,261.08 24,984.71 200.73 24,983.50 05/16/1605/10/16A2A- 25,000.00 05531FAV5 2.06 31 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 25,190.85 24,911.91 178.75 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03 6,356.62 1,124,843.51 1,114,970.81 1.72 1,120,612.30 1,110,000.00 Security Type Sub-Total Certificate of Deposit NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 99,954.00 100,000.00 408.89 100,000.00 05/29/1505/27/15Aa3AA- 100,000.00 65558LFA5 1.15 SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 100,150.00 100,000.00 1,311.44 100,000.00 11/17/1511/16/15P-1A-1 100,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 100,010.00 100,000.00 1,360.33 100,000.00 11/18/1511/17/15P-1A-1+ 100,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 100,472.50 100,000.00 103.89 100,000.00 03/15/1603/11/16Aa3AA- 100,000.00 78009NZZ2 1.69 3,184.55 400,586.50 400,000.00 1.46 400,000.00 400,000.00 Security Type Sub-Total 5,235,000.00 5,263,984.27 1.38 20,993.83 5,259,448.18 5,297,921.50 Managed Account Sub-Total Money Market Fund CAMP Pool 11,347.98 11,347.98 0.00 11,347.98 NRAAAm 11,347.98 11,347.98 11,347.98 0.00 11,347.98 11,347.98 Money Market Sub-Total $5,246,347.98 $5,275,332.25 $20,993.83 $5,270,796.16 $5,309,269.48 1.38% $5,330,263.31 $20,993.83 Total Investments Accrued Interest Securities Sub-Total 32 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 10/01/2012 0.625% 09/30/2017 49,976.55 49,940.10 0.86 49,708.98 10/31/1210/26/12AaaAA+ 50,000.00 912828TS9 0.75 US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 149,882.85 149,044.61 315.06 147,117.19 05/09/1405/06/14AaaAA+ 150,000.00 912828UA6 1.18 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 95,875.81 94,674.83 399.08 94,335.74 06/03/1406/02/14AaaAA+ 95,000.00 912828A34 1.41 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 150,298.80 147,948.09 504.10 147,105.47 05/29/1505/28/15AaaAA+ 150,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 126,127.88 123,753.71 133.81 123,437.50 11/09/1511/05/15AaaAA+ 125,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 151,353.45 149,670.43 160.57 149,578.13 10/09/1510/08/15AaaAA+ 150,000.00 912828UQ1 1.32 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 77,645.48 76,171.96 252.72 76,415.04 12/04/1512/01/15AaaAA+ 75,000.00 912828VP2 1.58 US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 182,075.25 177,557.34 318.46 178,028.32 12/30/1512/28/15AaaAA+ 175,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 102,628.90 101,602.20 732.34 101,851.56 02/03/1602/01/16AaaAA+ 100,000.00 912828WC0 1.35 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 77,742.15 76,888.92 504.10 77,141.60 03/04/1603/02/16AaaAA+ 75,000.00 912828A42 1.38 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 131,533.25 130,633.16 750.25 131,279.30 03/31/1603/30/16AaaAA+ 125,000.00 912828A83 1.28 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 128,339.88 127,082.20 552.82 127,241.21 05/31/1605/27/16AaaAA+ 125,000.00 912828N48 1.35 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 103,714.80 104,651.28 171.27 104,890.63 07/08/1607/06/16AaaAA+ 100,000.00 912828B90 0.92 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 55,287.87 55,663.57 1.89 55,700.39 06/29/1606/27/16AaaAA+ 55,000.00 912828Q37 0.98 33 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 233,560.58 232,955.05 1,512.30 233,085.94 09/02/1609/01/16AaaAA+ 225,000.00 912828WN6 1.22 6,309.63 1,816,043.50 1,798,237.45 1.33 1,796,917.00 1,775,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 30,468.90 30,052.81 26.32 30,084.30 03/25/1503/16/15Aa3AA- 30,000.00 20772JZK1 1.90 26.32 30,468.90 30,052.81 1.90 30,084.30 30,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 25,091.81 25,109.32 32.29 25,249.91 04/30/1504/15/15AaaAA+ 25,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 25,207.25 25,170.33 39.54 25,250.00 11/30/1511/06/15AaaAA+ 25,000.00 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 45,223.09 45,327.92 61.73 45,450.63 10/30/1510/07/15AaaAA+ 45,000.00 3136AQDQ0 1.08 133.56 95,522.15 95,607.57 1.05 95,950.54 95,000.00 Security Type Sub-Total Federal Agency Bond / Note FANNIE MAE GLOBAL NOTES DTD 09/24/2012 0.875% 10/26/2017 50,081.95 49,892.37 188.37 49,613.50 12/03/1311/27/13AaaAA+ 50,000.00 3135G0PQ0 1.08 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 100,088.80 99,490.85 315.97 98,485.00 05/31/1305/24/13AaaAA+ 100,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 125,111.00 124,647.17 394.97 123,943.75 05/24/1305/22/13AaaAA+ 125,000.00 3135G0WJ8 1.05 FEDERAL HOME LOAN BANKS AGCY DTD 05/27/2016 0.875% 06/29/2018 50,192.20 50,010.31 111.81 50,011.08 08/12/1608/11/16AaaAA+ 50,000.00 3130A8BD4 0.86 FHLB NOTES DTD 07/08/2016 0.625% 08/07/2018 99,610.20 99,649.61 93.75 99,624.00 08/12/1608/11/16AaaAA+ 100,000.00 3130A8PK3 0.82 34 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 106,696.17 105,532.32 587.71 105,997.50 10/23/1410/22/14AaaAA+ 105,000.00 3135G0YT4 1.39 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 50,070.95 50,119.31 48.61 50,126.50 08/08/1608/05/16AaaAA+ 50,000.00 3135G0J53 0.90 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 125,177.38 124,763.61 121.53 124,705.00 02/23/1602/19/16AaaAA+ 125,000.00 3135G0J53 1.08 FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 124,514.00 124,801.34 179.25 124,790.00 08/02/1607/29/16AaaAA+ 125,000.00 3135G0N33 0.93 FHLB GLOBAL NOTE DTD 08/04/2016 0.875% 08/05/2019 124,538.00 124,772.51 173.18 124,760.00 08/04/1608/03/16AaaAA+ 125,000.00 3130A8Y72 0.94 FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 124,942.50 124,810.18 100.69 124,805.00 09/02/1608/31/16AaaAA+ 125,000.00 3135G0P49 1.05 FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 124,890.50 124,893.27 17.36 124,891.25 09/09/1609/08/16AaaAA+ 125,000.00 3130A9EP2 1.03 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 124,081.75 124,271.10 300.78 124,239.88 07/15/1607/14/16AaaAA+ 125,000.00 3130A8QS5 1.25 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 24,932.30 24,916.42 36.46 24,914.48 08/19/1608/17/16AaaAA+ 25,000.00 3135G0N82 1.32 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 79,783.36 79,683.34 116.67 79,676.00 08/19/1608/17/16AaaAA+ 80,000.00 3135G0N82 1.33 2,787.11 1,434,711.06 1,432,253.71 1.08 1,430,582.94 1,435,000.00 Security Type Sub-Total Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 125,364.00 125,313.23 779.17 127,670.00 07/30/1207/25/12A1A+ 125,000.00 91159HHD5 1.19 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 74,945.40 75,092.12 266.80 75,405.75 12/05/1211/29/12Aa2AA- 75,000.00 166764AA8 0.99 35 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 99,927.20 100,000.00 355.73 100,000.00 12/05/1211/28/12Aa2AA- 100,000.00 166764AA8 1.10 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 100,120.60 99,873.07 184.03 99,542.00 02/08/1302/05/13Aa3AA- 100,000.00 459200HK0 1.35 BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 100,275.90 99,991.50 93.75 99,971.00 03/06/1303/04/13A1A 100,000.00 06406HCJ6 1.36 APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 54,923.33 54,934.33 226.11 54,797.05 05/03/1304/30/13Aa1AA+ 55,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 80,705.04 80,000.00 370.32 80,000.00 06/24/1306/17/13Aa2AA- 80,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 50,978.05 50,260.57 88.54 50,475.00 09/04/1408/29/14A1AA- 50,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 50,978.05 50,328.13 88.54 50,469.50 09/04/1509/01/15A1AA- 50,000.00 17275RAR3 1.85 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 50,333.00 49,972.49 433.33 49,968.00 04/26/1604/21/16A3BBB+ 50,000.00 38141GVT8 2.02 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 25,190.35 24,988.31 159.44 24,987.00 06/09/1606/02/16Baa1BBB+ 25,000.00 172967KS9 2.07 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 102,481.20 99,889.36 287.50 99,815.00 09/09/1409/04/14A1A+ 100,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 27,474.93 27,357.31 587.50 27,597.50 06/08/1606/03/16A3A 25,000.00 12189TBC7 1.48 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 176,273.48 175,830.39 637.53 176,223.25 02/05/1502/02/15A2A 175,000.00 94974BGF1 2.00 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 102,905.30 100,391.01 748.61 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 36 For the Month Ending September 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 51,385.60 51,068.62 770.83 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00 BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 25,261.08 24,984.71 200.73 24,983.50 05/16/1605/10/16A2A- 25,000.00 05531FAV5 2.06 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 25,190.85 24,911.91 178.75 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03 6,457.21 1,324,713.36 1,315,187.06 1.70 1,318,456.05 1,310,000.00 Security Type Sub-Total Certificate of Deposit NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 99,954.00 100,000.00 408.89 100,000.00 05/29/1505/27/15Aa3AA- 100,000.00 65558LFA5 1.15 SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 100,150.00 100,000.00 1,311.44 100,000.00 11/17/1511/16/15P-1A-1 100,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 100,010.00 100,000.00 1,360.33 100,000.00 11/18/1511/17/15P-1A-1+ 100,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 100,472.50 100,000.00 103.89 100,000.00 03/15/1603/11/16Aa3AA- 100,000.00 78009NZZ2 1.69 3,184.55 400,586.50 400,000.00 1.46 400,000.00 400,000.00 Security Type Sub-Total 5,045,000.00 5,071,990.83 1.36 18,898.38 5,071,338.60 5,102,045.47 Managed Account Sub-Total Money Market Fund CAMP Pool 4,571.31 4,571.31 0.00 4,571.31 NRAAAm 4,571.31 4,571.31 4,571.31 0.00 4,571.31 4,571.31 Money Market Sub-Total $5,049,571.31 $5,076,562.14 $18,898.38 $5,075,909.91 $5,106,616.78 1.36% $18,898.38 Total Investments Accrued Interest Securities Sub-Total $5,125,515.16 37 CAMP-LAKE ELSINORE HOUSING FUNDS For the Quarter Ended September 30, 2016 Appendix Important Disclosures This material is based on information obtained from sources generally believed to be reliable and available to the public, however PFM Asset Management LLC cannot guarantee its accuracy, completeness or suitability. This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation. All statements as to what will or may happen under certain circumstances are based on assumptions, some but not all of which are noted in the presentation. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Past performance does not necessarily reflect and is not a guaranty of future results. The information contained in this presentation is not an offer to purchase or sell any securities. Dime ■Market values which include accrued interest, are derived from closing bid prices as of the last business day of the month as supplied by a third party vendor. Where prices are not available from generally recognized sources the securities are priced using a yield based matrix system to arrive at an estimated market value. ■In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances and forward settling sales are excluded. ■Performance is presented in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns. ■Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets. ■Money market fund/cash balances are included in performance and duration computations. ■Standard & Poor’s is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings. ■Callable securities in portfolio are included in the maturity distribution analysis to their stated maturity date, although they may be called prior to maturity. ■MBS maturities are represented by expected average life. 2016 PFM Asset Management LLC 38 CAMP-LAKE ELSINORE HOUSING FUNDS For the Quarter Ended September 30, 2016 Appendix Glossary ■ACCRUED INTEREST: Interest that is due on a bond or other fixed income security since the last interest payment was made. ■AGENCIES: Federal agency securities and/or Government-sponsored enterprises. ■AMORTIZED COST: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer term securities is amortized using the constant yield basis. ■BANKERS’ ACCEPTANCE: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the insurer. ■COMMERCIAL PAPER: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory. ■CONTRIBUTION TO DURATION: Represents each sector or maturity range’s relative contribution to the overall duration of the portfolio measured as a percentage weighting. Since duration is a key measure of interest rate sensitivity, the contribution to duration measures the relative amount or contribution of that sector or maturity range to the total rate sensitivity of the portfolio. ■DURATION TO WORST: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years, computed from cash flows to the maturity date or to the put date, whichever results in the highest yield to the investor. ■EFFECTIVE DURATION: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years. ■EFFECTIVE YIELD: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding on investment returns, while nominal yield does not. ■FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount. ■INTEREST RATE: Interest per year divided by principal amount, expressed as a percentage. ■MARKET VALUE: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date. ■MATURITY: The date upon which the principal or stated value of an investment becomes due and payable. ■NEGOTIABLE CERTIFICATES OF DEPOSIT: A CD with a very large denomination, usually $1 million or more that can be traded in secondary markets. ■PAR VALUE: The nominal dollar face amount of a security. 2016 PFM Asset Management LLC 39 CAMP-LAKE ELSINORE HOUSING FUNDS For the Quarter Ended September 30, 2016 Appendix Glossary ■PASS THROUGH SECURITY: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage-backed security. ■REPURCHASE AGREEMENTS: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. ■SETTLE DATE: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction occurs on a non-business day (i.e. coupon payments and maturity proceeds), the funds are exchanged on the next business day. ■TRADE DATE: The date on which the transaction occurred however the final consummation of the security transaction and payment has not yet taken place. ■UNSETTLED TRADE: A trade which has been executed however the final consummation of the security transaction and payment has not yet taken place. ■U.S. TREASURY: The department of the U.S. government that issues Treasury securities. ■YIELD: The rate of return based on the current market value, the annual interest receipts, maturity value and the time period remaining until maturity, stated as a percentage, on an annualized basis. ■YTM AT COST: The yield to maturity at cost is the expected rate of return, based on the original cost, the annual interest receipts, maturity value and the time period from purchase date to maturity, stated as a percentage, on an annualized basis. ■YTM AT MARKET: The yield to maturity at market is the rate of return, based on the current market value, the annual interest receipts, maturity value and the time period remaining until maturity, stated as a percentage, on an annualized basis. 2016 PFM Asset Management LLC 40