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Item No. 13 SA RDA Invest Report
Text File City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: ID# 17-639 Agenda Date: 4/24/2018 Status: Consent AgendaVersion: 1 File Type: InvestmentsIn Control: City Council / Successor Agency Agenda Number: 13) Page 1 City of Lake Elsinore Printed on 4/19/2018 REPORT TO SUCCESSOR AGENCY BOARD OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE To:Honorable Agency Chairman and Members of the Successor Agency From:Grant Yates, Executive Director Prepared by:Andrew Zavala, Accountant I Approved by:Jason Simpson, Assistant Executive Director Date:April 24, 2018 Subject:Investment Report for March 2018 Recommendation Receive and file the Investment Report for March 2018. Background and Discussion The Investment Report is a listing of all funds invested for the City of Lake Elsinore and includes funds held for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. Additionally, the Review of the Investment Performance for the quarter ended December 31, 2017 is included. Fiscal Impact No fiscal impact. Exhibits A: Investment Report for March 2018 CITY OF LAKE ELSINORE INVESTMENT REPORT BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 2,298,649$ 23,449$ (998,616)$ 1,323,482$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 2,298,649 23,449 (998,616) 1,324,782 INVESTMENTS City Investments: City Local Agency Investment Fund 18,644,165 - - 18,644,165 City CAMP Investments: CAMP Pool Account 100,483 - - 100,483 U.S. Treasury Bond / Note 11,206,202 - - 11,206,202 Supra-National Agency Bond / Note 1,653,536 1,653,536 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 143,891 - - 143,891 Federal Agency Bond / Note 3,909,151 - - 3,909,151 Corporate Note 8,274,125 - - 8,274,125 Certificate of Deposit 4,964,318 - - 4,964,318 Housing CAMP Investments: Housing CAMP Pool Account 66,856 - - 66,856 Housing U.S. Treasury Bond / Notes 2,051,809 - - 2,051,809 Housing Supra-National Agency Bond 275,589 275,589 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 25,665 - - 25,665 Housing Federal Agency Bond / Notes 698,143 - - 698,143 Housing Corporate Notes 1,335,942 - - 1,335,942 Housing Certificate of Deposit 699,961 - - 699,961 Successor Investments: Successor Local Agency Investment Fund 7,487,026 - - 7,487,026 Successor CAMP Investments: Successor CAMP Pool Account 42,207 - - 42,207 Successor U.S. Treasury Bond / Notes 2,000,569 - - 2,000,569 Successor Supra-National Agency Bond 300,529 300,529 Successor Municipal Bond / Notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 25,665 - - 25,665 Successor Federal Agency Bond / Notes 992,568 - - 992,568 Successor Corporate Notes 1,295,610 - - 1,295,610 Successor Certificate of Deposit 699,961 - - 699,961 Sub-total Investments 67,244,603 - - 67,244,603 Market Value Adjustment: Unrealized Gain/(Loss) at 06-30-17 City (219,221) - - (219,221) Unrealized Gain/(Loss) at 06-30-17 SARDA (38,492) - - (38,492) Total Unrealized Gain/(Loss) at 06-30-17 per GASB 31 (257,713) - - (257,713) Total Investments 66,986,890 - - 66,986,890 Total Pooled Cash and Investments 69,285,539$ 23,449$ (998,616)$ 68,311,672$ TOTAL POOLED CASH AND INVESTMENTS 68,311,672$ 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 13, 2017. 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 April 10, 2018 Assistant City Manager 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 MARCH 31, 2018 FUND NO FUND NAME AMOUNT 100 General 7,923,203$ 106 Affordable Housing In Lieu 1,808,755 107 Developer Agreement Revenue 350,045 110 State Gas Tax 1,214,675 112 Measure A 1,911,619 114 SB1186 CASP Education Program 9,316 115 Traffic Safety 48,706 116 City Hall-Public Works DIF 943,400 117 Community Center DIF 23,308 118 Lake Side Facility DIF 55,835 119 Animal Shelter DIF 73,923 121 T.R.I.P.-2014A 133 135 Lighting & Landscape Maintenance - Dist. No. 1 898,348 140 Geothermal 20,156 155 CSA152 -- N.P.D.E.S.112,437 160 PEG Grant 11,801 205 Traffic Impact Fee 4,321,910 211 Storm Drain C.I.P. 1,053,401 220 Street Lighting C.I.P.101,672 221 Quimby Park C.I.P.51,844 231 Library C.I.P. 1,804,005 232 City Fire Protection 92,142 254 Railroad Canyon Improvement Area 89-1 126,253 300 Insurance Service 1,209,051 305 Information Systems Service 181,359 310 Support Service 1,296 320 Facilities Service 525,634 331 CFD 2006-1CC Summerly Improvement Area CC 29,007 332 CFD 2006-1 Improvement Area B, Summerly 49,355 334 CFD 2015-5 Trieste - Far West Industries 42,749 335 CFD 2003-2E Canyon Hills Improvement Area E 4,064 336 CFD 2006-1FF Summerly Improvement Area FF 47,913 337 CFD 2016-2 Canyon Hills 9,481 340 CFD 2006-1 IA-EE Summerly Improvement Area 33,669 345 CFD 2003-2 Improvement Area D, Canyon Hills 893,513 346 CFD 2014-1 Southshore 63,888 347 CFD 2006-1 Improvement Area A, Summerly 53,385 350 CFD 98-1 Summerhill 1,000,903 352 AD 86-1 Northwest Sewer 659,115 354 CFD 90-2 Tuscany Hills 1,546,617 357 CFD 2003-2 Canyon Hills Improvement Area 320,596 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 MARCH 31, 2018 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 MARCH 31, 2018 366 CFD 2005-6 City Center Townhomes 134,825 368 CFD 2006-2 Viscaya 204,661 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 436,021 371 CFD 2005-1 Serenity 211,140 372 CFD 2005-2 Alberhill Ranch Improvement Area 344,035 374 CFD 2005-4 Lakeview Villas 56,497 375 CFD 2006-4 Clurman 20,444 376 CFD 2006-3 La Strada 7,876 377 CFD 2006-6 Tessara 18,812 378 CFD 2006-8 Running Deer Estates 24,978 384 CFD 2003-2 Area B Canyon Hills Improvement Area 582,664 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 685,557 386 CFD 2007-4 Mekenna Court 20,834 387 CFD 2007-5 Red Kite 74,427 388 CFD 2007-6 Holiday Inn Express 6,463 389 CFD 88-3 (2008A) West Lake Elsinore Series A 993,391 390 CFD 2003-2 Area C Canyon Hills Improvement Area 148,168 392 CFD 95-1 City Center 95,264 393 AD 93-1 Cottonwood Hills 435,423 394 CFD 2005-5 (2012A) Wasson Canyon 197,764 395 CFD 2018-1 Wasson Canyon II Improvement Area 24,297 500 Capital Improvement Plan 5,054,714 510 Successor To RDA Area I, II, & III 9,177,392 540 Successor To RDA Diamond Stadium 1,197,805 603 Endowment Trust - Carl Graves 973,287 604 Endowment Trust - Korn Memorial 31,583 605 Public Improvement Trust 695,800 606 Mobile Source Air Polution Reduction 264,759 608 Trust Deposit & Pre Paid Expense 4,219,642 617 Successor Agency Housing 11,065,204 620 Cost Recovery System 1,003,440 631 Lake Destratification Equipment Replacement 276,028 Total Pooled Cash & Investments 68,311,672$ DIVERSIFICATION MAXIMUM TYPES OF SECURITIES PERCENTAGE PERCENTAGE U.S. Treasury Bills 0.00%Unlimited U.S. Treasury Bond / Note 22.69%Unlimited Current Balance 15,258,580$ Supra-National Agency Bond / Note 3.32%30% Current Balance 2,229,655$ Municipal Bond / Note 0.52%Unlimited Current Balance 350,632$ Federal Agency Collaterized Mortgage Obligation 0.29%40.00% Current Balance 195,221$ Federal Agency Bond / Note 8.33%*Unlimited Current Balance 5,599,862$ Banker's Acceptance 0.00%40.00% Certificates of Deposit 9.46%25.00% Current Balance 6,364,240$ Negotiable Certificates of Deposit 0.00%30.00% Commercial Paper 0.00%25.00% -$ Corporate Note 16.22%30.00% Current Balance 10,905,677$ Repurchase Agreements 0.00%Unlimited Reverse Repurchase Agreements 0.00%20.00% LAIF (Local Agency Investment Fund)38.86%*$65 Million Current Balance 26,131,192$ CAMP - Pooled Sweep Account 0.31%Unlimited Current Balance 209,545$ TOTAL 100.00%*67,244,603$ Note: *No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies. *Investment in LAIF may not exceed $65 million in each agency. *Totals include the City, Housing, and Successor Agency CAMP Portfolios. FOR THE MONTH ENDING MARCH 31, 2018 SUMMARY OF POLICY LIMITATIONS C I T Y O F L A K E E L S I N O R E Local Agency Investment Fund Yield Purchase Date Maturity Rate 1.524%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 22,444,165$ (3,800,000)$ 18,644,165$ Successor Agency 7,487,026$ -$ 7,487,026$ Total Investments Held with Local Agency Investment Fund:29,931,192$ (3,800,000)$ 26,131,192$ 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 MARCH 31, 2018 JOHN CHIANG TREASURER STATE OF CALIFORNIA 03/11/18 1.50 1.40 177 03/12/18 1.50 1.40 178 03/13/18 1.51 1.40 177 03/14/18 1.51 1.40 176 03/15/18 1.52 1.40 176 03/16/18 1.53 1.40 176 03/17/18 1.53 1.41 176 03/18/18 1.53 1.41 176 03/19/18 1.53 1.41 176 03/20/18 1.54 1.41 175 03/21/18 1.54 1.41 174 03/22/18 1.55 1.41 178 03/23/18 1.56 1.42 180 Mar 2018 1.524 03/24/18 1.56 1.42 180 Feb 2018 1.412 03/25/18 1.56 1.42 180 Jan 2018 1.350 03/26/18 1.56 1.42 176 03/27/18 1.57 1.42 175 03/28/18 1.57 1.42 177 03/29/18 1.58 1.43 179 03/30/18 1.59 1.43 183 03/31/18 1.59 1.43 183 04/01/18 1.59 1.59 183 04/02/18 1.60 1.60 190 04/03/18 1.60 1.60 190 04/04/18 1.61 1.60 188 04/05/18 1.61 1.60 187 04/06/18 1.62 1.61 185 04/07/18 1.62 1.61 185 04/08/18 1.62 1.61 185 04/09/18 1.62 1.61 186 04/10/18 1.63 1.61 184 4/10/2018 .00003301121703481 0.998093529 Earnings Ratio: Fair Value Factor: Daily:1.30% PMIA Performance Report LAIF Performance Report Date Daily Yield* Quarter to Date Yield Average Maturity (in days)Apportionment Rate:1.20% Quarter Ending 12/31/17 Based on data available as of Quarter to Date: Average Life: View Prior Month Daily Rates PMIA Average Monthly Effective Yields 1.18% *Daily yield does not reflect capital gains or losses 186 Treasuries 44.32% Mortgages 0.04% Agencies 17.95% Certificates of Deposit/Bank Notes 20.34% Time Deposits 6.71% Commercial Paper 9.68% Loans 0.96% Pooled Money Investment Account Portfolio Composition 03/31/18 $75.0 billion City Funds CAMP Account For the Month Ending March 31, 2018Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Opening Market Value Purchases Redemptions Change in Value Closing Market Value 192,154.11 814,499.88 (906,171.39) 0.00 $100,482.60 CAMP Pool Unsettled Trades 0.00 140.88 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 29,718,805.78 898,242.00 (783,718.32) 16,116.44 $29,849,445.90 CAMP Managed Account Unsettled Trades 0.00 7,936.12 Cash Dividends and Income March 31, 2018 February 28, 2018 Asset Summary CAMP Pool 100,482.60 192,154.11 CAMP Managed Account 29,849,445.90 29,718,805.78 $29,949,928.50 $29,910,959.89 Total Asset Allocation 0.34% CAMP Pool 99.66% CAMP Managed Account Account 6025-004 Page 1 For the Month Ending March 31, 2018Managed 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 $192,154.11 814,499.88 (906,171.39) $100,482.60 140.88 $29,718,805.78 (23,316.98) (760,401.34) 898,242.00 0.00 16,116.44 $29,849,445.90 $29,910,959.89 $29,949,928.50 26,827.07 0.00 (18,890.95) $7,936.12 0.00 763,375.34 23,853.07 23,316.98 (898,242.00) 87,696.61 0.00 Managed Account Total 30,386,491.62 30,486,974.22 140,468.00 763,375.34 23,316.98 23,853.07 (898,242.00) (30,290,515.78) (118,397.24) 0.00 140,468.00 1,669,546.73 23,316.98 23,853.07 (1,712,741.88) (30,482,669.89) (118,397.24) 140.88 Total Accrual Basis Earnings $30,349.99 $30,490.87 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending March 31, 2018Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 11,190,000.00 10,933,775.64 36.50 Supra-National Agency Bond / Note 1,650,000.00 1,625,336.55 5.43 Municipal Bond / Note 290,000.00 289,234.75 0.97 Federal Agency Collateralized Mortgage Obligation 142,464.78 141,676.85 0.47 Federal Agency Bond / Note 3,920,000.00 3,821,072.20 12.76 Corporate Note 8,205,000.00 8,115,652.70 27.09 Certificate of Deposit 4,965,000.00 4,922,697.21 16.44 Managed Account Sub-Total 30,362,464.78 29,849,445.90 99.66% Accrued Interest 140,468.00 Total Portfolio 30,362,464.78 29,989,913.90 CAMP Pool 100,482.60 100,482.60 0.34 Total Investments 30,462,947.38 30,090,396.50 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 16.44% Cert of Deposit 27.09% Corporate Note 0.47% Fed Agency CMO 12.76% Fed Agy Bond / Note 0.34% Mny Mkt Fund 0.97% Muni Bond / Note 5.43% Supra-National Agency Bond / Note 36.50% 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 0.75% 8.49% 23.41%21.71% 41.16% 4.48% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Duration to Worst Weighted Average Days to Maturity 2.46 934 1.88% 2.54% Page 3 For the Month Ending March 31, 2018Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Credit Quality (S&P Ratings) 4.64% A 11.96% A+ 6.34% A- 3.92% A-1 1.99% A-1+ 1.40% AA 50.72% AA+ 8.96% AA- 6.42% AAA 0.34% AAAm 3.31% BBB+ Issuer Summary Percentof HoldingsIssuer Market Value 372,302.54 1.24 AMERICAN EXPRESS CO 571,902.48 1.91 AMERICAN HONDA FINANCE 294,776.70 0.98 APPLE INC 294,081.10 0.98 BANK OF AMERICA CO 599,437.20 2.00 BANK OF MONTREAL 571,782.30 1.91 BANK OF NOVA SCOTIA 218,318.70 0.73 BB&T CORPORATION 154,200.30 0.51 BURLINGTON NORTHERN SANTA FE 100,482.60 0.34 CAMP Pool 573,395.75 1.91 CANADIAN IMPERIAL BANK OF COMMERCE 219,663.68 0.73 CATERPILLAR INC 568,566.45 1.90 CISCO SYSTEMS INC 401,246.10 1.34 CITIGROUP INC 270,878.30 0.90 DEERE & COMPANY 1,946,046.15 6.51 FANNIE MAE 1,575,284.85 5.27 FEDERAL HOME LOAN BANKS 441,418.05 1.47 FREDDIE MAC 260,017.50 0.87 GENERAL ELECTRIC CO 297,574.50 0.99 GOLDMAN SACHS GROUP INC 147,350.25 0.49 HOME DEPOT INC 298,427.70 1.00 IBM CORP 594,966.00 1.99 INTER-AMERICAN DEVELOPMENT BANK 298,914.30 1.00 INTERNATIONAL FINANCE CORPORATION 731,456.25 2.44 INTL BANK OF RECONSTRUCTION AND DEV 571,789.20 1.91 JP MORGAN CHASE & CO 297,008.40 0.99 MICROSOFT CORP 293,950.20 0.98 MORGAN STANLEY 124,655.38 0.42 NATIONAL RURAL UTILITIES CO FINANCE CORP 573,258.33 1.91 NORDEA BANK AB 146,998.50 0.49 PACCAR FINANCIAL CORP 195,032.20 0.65 PEPSICO INC 581,825.65 1.94 SKANDINAVISKA ENSKILDA BANKEN AB Page 4 For the Month Ending March 31, 2018Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Percentof HoldingsIssuer Market Value 164,241.00 0.55 STATE OF CONNECTICUT 72,772.05 0.24 STATE STREET CORPORATION 597,050.40 1.99 SVENSKA HANDELSBANKEN AB 590,298.00 1.97 SWEDBANK AB 294,154.80 0.98 THE BANK OF NEW YORK MELLON CORPORATION 294,698.23 0.98 THE WALT DISNEY CORPORATION 418,909.98 1.40 TOYOTA MOTOR CORP 302,166.30 1.01 UBS AG 299,259.60 1.00 UNILEVER PLC 10,933,775.64 36.52 UNITED STATES TREASURY 124,993.75 0.42 UNIVERSITY OF CALIFORNIA 294,152.70 0.98 WAL-MART STORES INC 442,965.16 1.48 WELLS FARGO & COMPANY 533,483.28 1.78 WESTPAC BANKING CORP $29,949,928.50 Total 100.00% Page 5 For the Month Ending March 31, 2018Managed 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 12/02/2013 2.000% 11/30/2020 148,564.50 152,442.40 1,005.49 154,283.20 03/04/1603/02/16AaaAA+ 150,000.00 912828A42 1.38 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 148,330.05 154,635.71 260.87 157,335.94 07/08/1607/06/16AaaAA+ 150,000.00 912828B90 0.92 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 280,393.75 292,348.82 9.90 293,692.97 06/29/1606/27/16AaaAA+ 290,000.00 912828Q37 0.98 US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 242,334.00 246,335.86 1,443.37 245,009.77 02/03/1702/01/17AaaAA+ 250,000.00 912828Q78 1.87 US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 339,267.60 344,991.47 2,020.72 343,054.69 01/05/1701/03/17AaaAA+ 350,000.00 912828Q78 1.86 US TREASURY NOTES DTD 05/31/2016 1.375% 05/31/2021 871,101.90 882,234.38 4,147.66 876,621.09 03/17/1703/15/17AaaAA+ 900,000.00 912828R77 2.02 US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 1,184,390.40 1,229,052.65 8,043.96 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 320,112.33 333,568.69 565.22 337,200.20 10/05/1610/03/16AaaAA+ 325,000.00 912828D72 1.21 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 787,968.80 804,843.80 1,391.30 806,187.50 04/05/1704/03/17AaaAA+ 800,000.00 912828D72 1.82 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1,009,585.03 1,027,229.95 1,782.61 1,028,042.97 12/05/1612/01/16AaaAA+ 1,025,000.00 912828D72 1.93 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1,132,705.15 1,155,788.46 2,000.00 1,156,962.89 07/11/1707/06/17AaaAA+ 1,150,000.00 912828D72 1.85 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1,378,945.40 1,412,575.43 2,434.78 1,415,257.81 06/29/1706/27/17AaaAA+ 1,400,000.00 912828D72 1.73 US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 694,838.55 710,119.19 3,805.25 708,206.05 10/10/1710/05/17AaaAA+ 725,000.00 912828T67 1.85 US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 1,054,237.80 1,085,016.72 5,773.48 1,082,640.63 08/31/1708/30/17AaaAA+ 1,100,000.00 912828T67 1.64 Page 6 For the Month Ending March 31, 2018Managed 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 05/01/2017 1.875% 04/30/2022 438,872.85 445,653.09 3,542.82 445,324.22 12/06/1712/04/17AaaAA+ 450,000.00 912828X47 2.12 US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 902,127.53 913,889.62 7,282.46 913,256.84 01/04/1801/03/18AaaAA+ 925,000.00 912828X47 2.18 45,509.89 10,933,775.64 11,190,726.24 1.74 11,206,201.77 11,190,000.00 Security Type Sub-Total Supra-National Agency Bond / Note INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 731,456.25 748,515.05 617.90 748,200.00 09/19/1709/12/17AaaAAA 750,000.00 45905UP32 1.64 INTER-AMERICAN DEVELOPMENT BANK DTD 11/08/2013 2.125% 11/09/2020 594,966.00 604,726.61 5,029.17 605,561.46 10/10/1710/02/17AaaAAA 600,000.00 4581X0CD8 1.81 INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 298,914.30 299,777.97 329.38 299,775.00 03/16/1803/09/18AaaAAA 300,000.00 45950VLQ7 2.66 5,976.45 1,625,336.55 1,653,019.63 1.89 1,653,536.46 1,650,000.00 Security Type Sub-Total Municipal Bond / Note UNIV OF CAL TXBL REV BONDS DTD 04/10/2014 1.904% 05/15/2018 124,993.75 125,000.00 899.11 125,000.00 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 164,241.00 165,114.62 144.76 165,463.65 03/25/1503/16/15A1A+ 165,000.00 20772JZK1 1.90 1,043.87 289,234.75 290,114.62 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 776.63 778.05 1.00 785.83 04/30/1504/15/15AaaAA+ 778.05 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 39,815.85 40,019.63 63.24 40,370.60 11/30/1511/06/15AaaAA+ 39,970.89 3136AQSW1 1.20 Page 7 For the Month Ending March 31, 2018Managed 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 Collateralized Mortgage Obligation FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 101,084.37 101,999.10 139.52 102,734.41 10/30/1510/07/15AaaAA+ 101,715.84 3136AQDQ0 1.08 203.76 141,676.85 142,796.78 1.11 143,890.84 142,464.78 Security Type Sub-Total Federal Agency Bond / Note FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 295,022.40 299,777.64 275.00 299,532.00 09/02/1608/31/16AaaAA+ 300,000.00 3135G0P49 1.05 FANNIE MAE GLOBAL NOTES DTD 10/25/2016 1.000% 10/24/2019 392,106.40 399,436.33 1,744.44 398,928.00 10/25/1610/21/16AaaAA+ 400,000.00 3135G0R39 1.09 FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 729,474.24 739,906.83 3,843.89 739,829.80 11/17/1611/16/16AaaAA+ 740,000.00 3130AA3R7 1.38 FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 541,698.30 549,774.27 756.25 549,648.00 02/28/1702/24/17AaaAA+ 550,000.00 3135G0T29 1.52 FHLMC AGENCY NOTES DTD 04/20/2017 1.375% 04/20/2020 441,418.05 448,939.62 2,767.19 448,461.00 04/20/1704/19/17AaaAA+ 450,000.00 3137EAEF2 1.49 FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 151,199.71 154,592.28 17.76 154,502.45 09/08/1709/07/17AaaAA+ 155,000.00 3130ACE26 1.48 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 694,610.90 722,070.43 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 134,293.18 139,672.66 213.89 139,521.06 08/19/1608/17/16AaaAA+ 140,000.00 3135G0N82 1.32 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 441,249.02 458,726.60 702.78 458,137.00 08/19/1608/17/16AaaAA+ 460,000.00 3135G0N82 1.33 12,065.73 3,821,072.20 3,912,896.66 1.33 3,909,150.59 3,920,000.00 Security Type Sub-Total Corporate Note CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 269,320.95 270,541.20 478.13 272,565.00 09/04/1408/29/14A1AA- 270,000.00 17275RAR3 1.90 Page 8 For the Month Ending March 31, 2018Managed 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 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 299,245.50 300,756.93 531.25 302,817.00 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 49,595.75 49,949.59 433.33 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 247,978.75 249,941.99 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 104,034.00 104,978.01 681.63 104,945.40 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 571,902.48 574,690.92 1,653.13 573,936.25 09/09/1409/04/14A2A+ 575,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 154,200.30 157,149.90 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 260,017.50 264,893.96 3,170.14 289,082.50 03/25/1503/20/15A2A 250,000.00 36962G4J0 2.05 CITIGROUP INC (CALLABLE) CORP NOTE DTD 01/10/2017 2.450% 01/10/2020 297,212.10 299,927.97 1,653.75 299,880.00 01/10/1701/04/17Baa1BBB+ 300,000.00 172967LF6 2.46 WELLS FARGO & CO CORP BONDS DTD 02/02/2015 2.150% 01/30/2020 73,827.53 75,112.56 273.23 75,288.00 03/27/1503/24/15A2A- 75,000.00 94974BGF1 2.07 WELLS FARGO & CO CORP BONDS DTD 02/02/2015 2.150% 01/30/2020 369,137.63 375,992.46 1,366.15 377,621.25 02/05/1502/02/15A2A- 375,000.00 94974BGF1 2.00 MICROSOFT CORP NOTES DTD 02/06/2017 1.850% 02/06/2020 297,008.40 299,874.94 847.92 299,799.00 02/06/1701/30/17AaaAAA 300,000.00 594918BV5 1.87 AMERICAN EXPRESS CREDIT (CALLABLE) NOTE DTD 03/03/2017 2.200% 03/03/2020 177,480.54 179,878.64 308.00 179,812.80 03/03/1702/28/17A2A- 180,000.00 0258M0EE5 2.24 WALT DISNEY COMPANY CORP NOTES DTD 03/06/2017 1.950% 03/04/2020 123,236.38 124,978.85 182.81 124,967.50 03/06/1703/01/17A2A+ 125,000.00 25468PDP8 1.96 Page 9 For the Month Ending March 31, 2018Managed 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 TOYOTA MOTOR CORP NOTES DTD 03/12/2015 2.150% 03/12/2020 197,614.60 200,718.27 226.94 201,776.00 03/27/1503/23/15Aa3AA- 200,000.00 89236TCF0 1.96 TOYOTA MOTOR CREDIT CORP (CALLABLE) DTD 04/17/2017 1.950% 04/17/2020 221,295.38 224,928.82 1,998.75 224,896.50 04/17/1704/11/17Aa3AA- 225,000.00 89236TDU6 1.97 HOME DEPOT INC CORP NOTES DTD 06/05/2017 1.800% 06/05/2020 147,350.25 149,936.39 870.00 149,913.00 06/05/1705/24/17A2A 150,000.00 437076BQ4 1.82 WALT DISNEY COMPANY CORP NOTES DTD 06/06/2017 1.800% 06/05/2020 171,461.85 174,851.40 1,015.00 174,797.00 06/06/1706/01/17A2A+ 175,000.00 25468PDU7 1.84 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 571,789.20 576,351.52 4,304.51 577,857.75 09/04/1509/01/15A3A- 575,000.00 46625HLW8 2.64 CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 219,663.68 224,845.88 312.19 224,811.00 09/07/1709/05/17A3A 225,000.00 14913Q2A6 1.88 PACCAR FINANCIAL CORP NOTES DTD 11/13/2017 2.050% 11/13/2020 146,998.50 149,988.18 1,178.75 149,986.50 11/13/1711/06/17A1A+ 150,000.00 69371RN85 2.05 APPLE INC DTD 11/13/2017 2.000% 11/13/2020 294,776.70 299,779.39 2,300.00 299,748.00 11/13/1711/06/17Aa1AA+ 300,000.00 037833DJ6 2.03 WAL-MART STORES INC CORP NOTE DTD 10/20/2017 1.900% 12/15/2020 294,152.70 299,628.20 2,549.17 299,565.00 10/20/1710/11/17Aa2AA 300,000.00 931142EA7 1.95 BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 73,103.70 74,968.98 268.75 74,965.50 10/26/1710/23/17A2A- 75,000.00 05531FAZ6 2.17 IBM CORP CORP NOTES DTD 02/06/2018 2.650% 02/05/2021 298,427.70 299,860.21 1,214.58 299,853.00 02/06/1802/01/18A1A+ 300,000.00 44932HAG8 2.67 NATIONAL RURAL UTIL COOP DTD 02/26/2018 2.900% 03/15/2021 124,655.38 124,865.73 352.43 124,861.25 02/26/1802/21/18A2A 125,000.00 63743HER9 2.94 UNILEVER CAPITAL CORP NOTES DTD 03/22/2018 2.750% 03/22/2021 299,259.60 298,479.32 206.25 298,467.00 03/22/1803/19/18A1A+ 300,000.00 904764AZ0 2.93 Page 10 For the Month Ending March 31, 2018Managed 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 PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 195,032.20 199,965.47 1,900.00 199,960.00 10/10/1710/05/17A1A+ 200,000.00 713448DX3 2.01 BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 294,154.80 304,358.14 3,458.33 306,978.00 05/19/1605/16/16A1A 300,000.00 06406FAA1 2.00 BANK OF AMERICA CORP NOTE DTD 04/19/2016 2.625% 04/19/2021 98,504.50 100,687.51 1,181.25 100,776.00 11/03/1711/01/17A3A- 100,000.00 06051GFW4 2.39 MORGAN STANLEY CORP NOTES DTD 04/21/2016 2.500% 04/21/2021 293,950.20 300,861.88 3,333.33 300,972.00 11/03/1711/01/17A3BBB+ 300,000.00 61746BEA0 2.40 AMERICAN EXPRESS CREDIT (CALLABLE) NOTES DTD 05/05/2016 2.250% 05/05/2021 194,822.00 199,703.61 1,825.00 199,536.00 05/31/1605/25/16A2A- 200,000.00 0258M0EB1 2.30 BRANCH BANKING & TRUST (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 145,215.00 149,937.24 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 72,772.05 74,818.62 536.25 74,716.50 05/24/1605/19/16A1A 75,000.00 857477AV5 2.03 BANK OF AMERICA CORP (CALLABLE) DTD 09/18/2017 2.328% 10/01/2021 195,576.60 200,000.00 2,496.13 200,000.00 09/18/1709/13/17A3A- 200,000.00 06051GGS2 2.33 JOHN DEERE CAPITAL CORP NOTES DTD 01/06/2017 2.650% 01/06/2022 270,878.30 274,042.19 1,720.66 273,787.25 03/15/1703/10/17A2A 275,000.00 24422ETL3 2.75 51,723.79 8,115,652.70 8,232,244.87 2.19 8,274,124.95 8,205,000.00 Security Type Sub-Total Certificate of Deposit CANADIAN IMPERIAL BANK NY CD DTD 12/05/2016 1.760% 11/30/2018 573,395.75 574,849.68 3,401.44 574,551.50 12/05/1612/01/16P-1A-1 575,000.00 13606A5Z7 1.78 SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 597,050.40 600,000.00 2,551.50 600,000.00 01/12/1701/10/17P-1A-1+ 600,000.00 86958JHB8 1.91 Page 11 For the Month Ending March 31, 2018Managed 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 BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 599,437.20 600,000.00 1,692.00 600,000.00 02/09/1702/08/17P-1A-1 600,000.00 06427KRC3 1.90 BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 571,782.30 575,000.00 5,430.24 575,000.00 04/06/1704/05/17A1A+ 575,000.00 06417GUE6 1.91 SKANDINAV ENSKILDA BANKEN NY CD DTD 08/04/2017 1.840% 08/02/2019 581,825.65 599,843.14 1,778.67 599,766.00 08/04/1708/03/17Aa3A+ 600,000.00 83050FXT3 1.85 NORDEA BANK AB NY CD DTD 02/22/2018 2.720% 02/20/2020 573,258.33 575,000.00 1,694.33 575,000.00 02/22/1802/20/18Aa3AA- 575,000.00 65590ASN7 2.72 UBS AG STAMFORD CT LT CD DTD 03/06/2018 2.900% 03/02/2020 302,166.30 300,000.00 628.33 300,000.00 03/06/1803/02/18Aa3A+ 300,000.00 90275DHG8 2.93 WESTPAC BANKING CORP NY CD DTD 08/07/2017 2.050% 08/03/2020 533,483.28 540,000.00 1,660.50 540,000.00 08/07/1708/03/17Aa3AA- 540,000.00 96121T4A3 2.05 SWEDBANK (NEW YORK) CERT DEPOS DTD 11/17/2017 2.270% 11/16/2020 590,298.00 600,000.00 5,107.50 600,000.00 11/17/1711/16/17Aa3AA- 600,000.00 87019U6D6 2.30 23,944.51 4,922,697.21 4,964,692.82 2.11 4,964,317.50 4,965,000.00 Security Type Sub-Total 30,362,464.78 30,441,685.76 1.88 140,468.00 30,386,491.62 29,849,445.90 Managed Account Sub-Total Money Market Mutual Fund CAMP Pool 100,482.60 100,482.60 0.00 100,482.60 NRAAAm 100,482.60 100,482.60 100,482.60 0.00 100,482.60 100,482.60 Money Market Sub-Total $30,462,947.38 $30,542,168.36 $140,468.00 $30,486,974.22 $29,949,928.50 1.88% $30,090,396.50 $140,468.00 Total Investments Accrued Interest Securities Sub-Total Page 12 For the Month Ending March 31, 2018Managed 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 2.56 (3,877.90)(5,718.70) 148,564.50 99.04 MERRILL 150,000.00 912828A42US TREASURY NOTES DTD 12/02/2013 2.000% 11/30/2020 2.37 2.56 2.81 (6,305.66)(9,005.89) 148,330.05 98.89 MORGANST 150,000.00 912828B90US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 2.40 2.81 2.92 (11,955.07)(13,299.22) 280,393.75 96.69 CITIGRP 290,000.00 912828Q37US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 2.40 2.92 2.97 (4,001.86)(2,675.77) 242,334.00 96.93 MERRILL 250,000.00 912828Q78US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 2.41 2.97 2.97 (5,723.87)(3,787.09) 339,267.60 96.93 MORGAN_S 350,000.00 912828Q78US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 2.41 2.97 3.06 (11,132.48)(5,519.19) 871,101.90 96.79 MORGAN_S 900,000.00 912828R77US TREASURY NOTES DTD 05/31/2016 1.375% 05/31/2021 2.43 3.06 3.03 (44,662.25)(58,734.60) 1,184,390.40 98.70 HSBC 1,200,000.00 912828WN6US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 2.43 3.03 3.27 (13,456.36)(17,087.87) 320,112.33 98.50 HSBC 325,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (16,875.00)(18,218.70) 787,968.80 98.50 MORGAN_S 800,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (17,644.92)(18,457.94) 1,009,585.03 98.50 HSBC 1,025,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (23,083.31)(24,257.74) 1,132,705.15 98.50 MORGAN_S 1,150,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (33,630.03)(36,312.41) 1,378,945.40 98.50 MORGAN_S 1,400,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.45 (15,280.64)(13,367.50) 694,838.55 95.84 MERRILL 725,000.00 912828T67US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 2.47 3.45 3.45 (30,778.92)(28,402.83) 1,054,237.80 95.84 MERRILL 1,100,000.00 912828T67US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 2.47 3.45 3.87 (6,780.24)(6,451.37) 438,872.85 97.53 MERRILL 450,000.00 912828X47US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 2.52 3.87 3.87 (11,762.09)(11,129.31) 902,127.53 97.53 CITIGRP 925,000.00 912828X47US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 2.52 3.87 (272,426.13) 2.46 3.29 (256,950.60) 10,933,775.64 11,190,000.00 Security Type Sub-Total 3.29 Page 13 For the Month Ending March 31, 2018Managed 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 Supra-National Agency Bond / Note 2.38 (17,058.80)(16,743.75) 731,456.25 97.53 HSBC 750,000.00 45905UP32INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 2.61 2.38 2.50 (9,760.61)(10,595.46) 594,966.00 99.16 HSBC 600,000.00 4581X0CD8INTER-AMERICAN DEVELOPMENT BANK DTD 11/08/2013 2.125% 11/09/2020 2.46 2.50 2.81 (863.67)(860.70) 298,914.30 99.64 HSBC 300,000.00 45950VLQ7INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 2.76 2.81 (28,199.91) 2.58 2.50 (27,683.08) 1,625,336.55 1,650,000.00 Security Type Sub-Total 2.50 Municipal Bond / Note 0.12 (6.25)(6.25) 124,993.75 100.00 GOLDMAN 125,000.00 91412GUV5UNIV OF CAL TXBL REV BONDS DTD 04/10/2014 1.904% 05/15/2018 1.89 0.12 0.94 (873.62)(1,222.65) 164,241.00 99.54 VINING 165,000.00 20772JZK1CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 2.46 0.94 (1,228.90) 2.21 0.59 (879.87) 289,234.75 290,000.00 Security Type Sub-Total 0.59 Federal Agency Collateralized Mortgage Obligation 0.07 (1.42)(9.20) 776.63 99.82 GOLDMAN 778.05 3136ANJY4FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 2.74 0.07 0.62 (203.78)(554.75) 39,815.85 99.61 GOLDMAN 39,970.89 3136AQSW1FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 2.32 0.43 1.25 (914.73)(1,650.04) 101,084.37 99.38 MORGANST 101,715.84 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 2.06 0.69 (2,213.99) 2.14 1.06 (1,119.93) 141,676.85 142,464.78 Security Type Sub-Total 0.61 Federal Agency Bond / Note 1.39 (4,755.24)(4,509.60) 295,022.40 98.34 GOLDMAN 300,000.00 3135G0P49FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 2.20 1.39 1.53 (7,329.93)(6,821.60) 392,106.40 98.03 BARCLAYS 400,000.00 3135G0R39FANNIE MAE GLOBAL NOTES DTD 10/25/2016 1.000% 10/24/2019 2.29 1.53 Page 14 For the Month Ending March 31, 2018Managed 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 1.58 (10,432.59)(10,355.56) 729,474.24 98.58 MERRILL 740,000.00 3130AA3R7FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 2.27 1.58 1.87 (8,075.97)(7,949.70) 541,698.30 98.49 JPM_CHAS 550,000.00 3135G0T29FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 2.31 1.87 2.00 (7,521.57)(7,042.95) 441,418.05 98.09 WELLS_FA 450,000.00 3137EAEF2FHLMC AGENCY NOTES DTD 04/20/2017 1.375% 04/20/2020 2.33 2.00 2.43 (3,392.57)(3,302.74) 151,199.71 97.55 BARCLAYS 155,000.00 3130ACE26FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 2.39 2.43 3.19 (27,459.53)(25,980.38) 694,610.90 95.81 TD SEC U 725,000.00 3130A8QS5FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 2.46 3.19 3.27 (5,379.48)(5,227.88) 134,293.18 95.92 TD SEC U 140,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.52 3.27 3.27 (17,477.58)(16,887.98) 441,249.02 95.92 CITIGRP 460,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.52 3.27 (88,078.39) 2.36 2.23 (91,824.46) 3,821,072.20 3,920,000.00 Security Type Sub-Total 2.23 Corporate Note 0.90 (1,220.25)(3,244.05) 269,320.95 99.75 BONY 270,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 2.40 0.90 0.90 (1,511.43)(3,571.50) 299,245.50 99.75 BNP PARI 300,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 2.40 0.90 1.04 (353.84)(265.25) 49,595.75 99.19 03/25/19GOLDMAN 50,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 2.77 1.03 1.04 (1,963.24)(1,861.25) 247,978.75 99.19 03/25/19MIZUHO 250,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 2.77 1.03 1.15 (944.01)(911.40) 104,034.00 99.08 CITIGRP 105,000.00 172967KS9CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 2.84 1.15 1.34 (2,788.44)(2,033.77) 571,902.48 99.46 MERRILL 575,000.00 02665WAH4AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 2.65 1.34 Page 15 For the Month Ending March 31, 2018Managed 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 1.41 (2,949.60)(11,384.70) 154,200.30 102.80 GOLDMAN 150,000.00 12189TBC7BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 2.78 1.41 1.67 (4,876.46)(29,065.00) 260,017.50 104.01 GOLDMAN 250,000.00 36962G4J0GENERAL ELECTRIC CAP CORP NOTES DTD 01/08/2010 5.500% 01/08/2020 3.15 1.67 1.71 (2,715.87)(2,667.90) 297,212.10 99.07 12/10/19CITIGRP 300,000.00 172967LF6CITIGROUP INC (CALLABLE) CORP NOTE DTD 01/10/2017 2.450% 01/10/2020 2.99 1.71 1.77 (1,285.03)(1,460.47) 73,827.53 98.44 1ST TENN 75,000.00 94974BGF1WELLS FARGO & CO CORP BONDS DTD 02/02/2015 2.150% 01/30/2020 3.03 1.77 1.77 (6,854.83)(8,483.62) 369,137.63 98.44 JEFFERIE 375,000.00 94974BGF1WELLS FARGO & CO CORP BONDS DTD 02/02/2015 2.150% 01/30/2020 3.03 1.77 1.80 (2,866.54)(2,790.60) 297,008.40 99.00 HSBC 300,000.00 594918BV5MICROSOFT CORP NOTES DTD 02/06/2017 1.850% 02/06/2020 2.40 1.80 1.86 (2,398.10)(2,332.26) 177,480.54 98.60 02/01/20MERRILL 180,000.00 0258M0EE5AMERICAN EXPRESS CREDIT (CALLABLE) NOTE DTD 03/03/2017 2.200% 03/03/2020 2.95 1.86 1.87 (1,742.47)(1,731.12) 123,236.38 98.59 CITIGRP 125,000.00 25468PDP8WALT DISNEY COMPANY CORP NOTES DTD 03/06/2017 1.950% 03/04/2020 2.71 1.87 1.89 (3,103.67)(4,161.40) 197,614.60 98.81 HSBC 200,000.00 89236TCF0TOYOTA MOTOR CORP NOTES DTD 03/12/2015 2.150% 03/12/2020 2.78 1.89 1.97 (3,633.44)(3,601.12) 221,295.38 98.35 MERRILL 225,000.00 89236TDU6TOYOTA MOTOR CREDIT CORP (CALLABLE) DTD 04/17/2017 1.950% 04/17/2020 2.78 1.97 2.11 (2,586.14)(2,562.75) 147,350.25 98.23 JPM_CHAS 150,000.00 437076BQ4HOME DEPOT INC CORP NOTES DTD 06/05/2017 1.800% 06/05/2020 2.64 2.11 2.10 (3,389.55)(3,335.15) 171,461.85 97.98 DEUTSCHE 175,000.00 25468PDU7WALT DISNEY COMPANY CORP NOTES DTD 06/06/2017 1.800% 06/05/2020 2.76 2.10 2.13 (4,562.32)(6,068.55) 571,789.20 99.44 05/23/20JPMCHASE 575,000.00 46625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 3.01 2.11 2.35 (5,182.20)(5,147.32) 219,663.68 97.63 BARCLAYS 225,000.00 14913Q2A6CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 2.87 2.35 2.50 (2,989.68)(2,988.00) 146,998.50 98.00 CITIGRP 150,000.00 69371RN85PACCAR FINANCIAL CORP NOTES DTD 11/13/2017 2.050% 11/13/2020 2.85 2.50 2.51 (5,002.69)(4,971.30) 294,776.70 98.26 JPM_CHAS 300,000.00 037833DJ6APPLE INC DTD 11/13/2017 2.000% 11/13/2020 2.69 2.51 Page 16 For the Month Ending March 31, 2018Managed 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 2.59 (5,475.50)(5,412.30) 294,152.70 98.05 MORGAN_S 300,000.00 931142EA7WAL-MART STORES INC CORP NOTE DTD 10/20/2017 1.900% 12/15/2020 2.65 2.59 2.71 (1,865.28)(1,861.80) 73,103.70 97.47 01/01/21MORGAN_S 75,000.00 05531FAZ6BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 3.09 2.72 2.71 (1,432.51)(1,425.30) 298,427.70 99.48 BNP_PARI 300,000.00 44932HAG8IBM CORP CORP NOTES DTD 02/06/2018 2.650% 02/05/2021 2.84 2.71 2.80 (210.35)(205.87) 124,655.38 99.72 RBC 125,000.00 63743HER9NATIONAL RURAL UTIL COOP DTD 02/26/2018 2.900% 03/15/2021 3.00 2.80 2.83 780.28 792.60 299,259.60 99.75 CITIGRP 300,000.00 904764AZ0UNILEVER CAPITAL CORP NOTES DTD 03/22/2018 2.750% 03/22/2021 2.84 2.83 2.89 (4,933.27)(4,927.80) 195,032.20 97.52 03/15/21MERRILL 200,000.00 713448DX3PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 2.86 2.89 2.86 (10,203.34)(12,823.20) 294,154.80 98.05 03/15/21KEYBAN 300,000.00 06406FAA1BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 3.18 2.86 2.87 (2,183.01)(2,271.50) 98,504.50 98.50 MERRILL 100,000.00 06051GFW4BANK OF AMERICA CORP NOTE DTD 04/19/2016 2.625% 04/19/2021 3.14 2.87 2.88 (6,911.68)(7,021.80) 293,950.20 97.98 MORGAN_S 300,000.00 61746BEA0MORGAN STANLEY CORP NOTES DTD 04/21/2016 2.500% 04/21/2021 3.20 2.88 2.93 (4,881.61)(4,714.00) 194,822.00 97.41 04/04/21KEYBAN 200,000.00 0258M0EB1AMERICAN EXPRESS CREDIT (CALLABLE) NOTES DTD 05/05/2016 2.250% 05/05/2021 3.13 2.93 2.95 (4,722.24)(4,686.00) 145,215.00 96.81 04/09/21SCOTIA 150,000.00 05531FAV5BRANCH BANKING & TRUST (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 3.13 2.96 2.99 (2,046.57)(1,944.45) 72,772.05 97.03 GOLDMAN 75,000.00 857477AV5STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 2.95 2.99 3.79 (4,423.40)(4,423.40) 195,576.60 97.79 10/01/20MERRILL 200,000.00 06051GGS2BANK OF AMERICA CORP (CALLABLE) DTD 09/18/2017 2.328% 10/01/2021 2.61 2.66 3.53 (3,163.89)(2,908.95) 270,878.30 98.50 MITSU 275,000.00 24422ETL3JOHN DEERE CAPITAL CORP NOTES DTD 01/06/2017 2.650% 01/06/2022 3.07 3.53 (158,472.25) 2.84 2.15 (116,592.17) 8,115,652.70 8,205,000.00 Security Type Sub-Total 2.13 Page 17 For the Month Ending March 31, 2018Managed 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 Certificate of Deposit 0.65 (1,453.93)(1,155.75) 573,395.75 99.72 GOLDMAN 575,000.00 13606A5Z7CANADIAN IMPERIAL BANK NY CD DTD 12/05/2016 1.760% 11/30/2018 2.13 0.65 0.77 (2,949.60)(2,949.60) 597,050.40 99.51 MERRILL 600,000.00 86958JHB8SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 2.48 0.77 0.85 (562.80)(562.80) 599,437.20 99.91 GOLDMAN 600,000.00 06427KRC3BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 1.94 0.85 1.01 (3,217.70)(3,217.70) 571,782.30 99.44 MERRILL 575,000.00 06417GUE6BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 1.50 1.01 1.30 (18,017.49)(17,940.35) 581,825.65 96.97 BARCLAYS 600,000.00 83050FXT3SKANDINAV ENSKILDA BANKEN NY CD DTD 08/04/2017 1.840% 08/02/2019 2.75 1.30 1.82 (1,741.67)(1,741.67) 573,258.33 99.70 GOLDMAN 575,000.00 65590ASN7NORDEA BANK AB NY CD DTD 02/22/2018 2.720% 02/20/2020 2.89 1.82 1.86 2,166.30 2,166.30 302,166.30 100.72 UBS 300,000.00 90275DHG8UBS AG STAMFORD CT LT CD DTD 03/06/2018 2.900% 03/02/2020 2.54 1.86 2.32 (6,516.72)(6,516.72) 533,483.28 98.79 JPM_CHAS 540,000.00 96121T4A3WESTPAC BANKING CORP NY CD DTD 08/07/2017 2.050% 08/03/2020 2.50 2.32 2.51 (9,702.00)(9,702.00) 590,298.00 98.38 MERRILL 600,000.00 87019U6D6SWEDBANK (NEW YORK) CERT DEPOS DTD 11/17/2017 2.270% 11/16/2020 2.95 2.51 (41,620.29) 2.40 1.42 (41,995.61) 4,922,697.21 4,965,000.00 Security Type Sub-Total 1.42 30,362,464.78 29,849,445.90 (592,239.86) (537,045.72) 2.46 2.54 Managed Account Sub-Total 2.45 Money Market Mutual Fund 0.00 0.00 0.00 100,482.60 1.00 100,482.60 CAMP Pool 0.00 100,482.60 100,482.60 0.00 0.00 0.00 Money Market Sub-Total 0.00 Total Investments $30,090,396.50 $140,468.00 $29,949,928.50 Accrued Interest Securities Sub-Total $30,462,947.38 ($592,239.86) ($537,045.72) 2.46 2.54% 2.45 Page 18 For the Month Ending March 31, 2018Managed 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 03/06/18 UBS AG STAMFORD CT LT CD DTD 03/06/2018 2.900% 03/02/2020 90275DHG8 (300,000.00) 0.00 (300,000.00) 300,000.00 03/02/18 03/16/18 INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 45950VLQ7 (299,775.00) 0.00 (299,775.00) 300,000.00 03/09/18 03/22/18 UNILEVER CAPITAL CORP NOTES DTD 03/22/2018 2.750% 03/22/2021 904764AZ0 (298,467.00) 0.00 (298,467.00) 300,000.00 03/19/18 0.00 (898,242.00)(898,242.00) 900,000.00 Transaction Type Sub-Total INTEREST 03/01/18 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 17275RAR3 0.00 3,187.50 3,187.50 300,000.00 03/01/18 03/01/18 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 17275RAR3 0.00 2,868.75 2,868.75 270,000.00 03/01/18 03/25/18 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 0.00 3.38 3.38 2,614.00 03/01/18 03/25/18 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 0.00 195.40 195.40 118,248.49 03/01/18 03/25/18 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 0.00 71.05 71.05 44,919.26 03/01/18 03/03/18 AMERICAN EXPRESS CREDIT (CALLABLE) NOTE DTD 03/03/2017 2.200% 03/03/2020 0258M0EE5 0.00 1,980.00 1,980.00 180,000.00 03/03/18 03/04/18 CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 14913Q2A6 0.00 2,046.57 2,046.57 225,000.00 03/04/18 03/04/18 WALT DISNEY COMPANY CORP NOTES DTD 03/06/2017 1.950% 03/04/2020 25468PDP8 0.00 1,218.75 1,218.75 125,000.00 03/04/18 03/12/18 INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 45905UP32 0.00 5,625.00 5,625.00 750,000.00 03/12/18 03/12/18 TOYOTA MOTOR CORP NOTES DTD 03/12/2015 2.150% 03/12/2020 89236TCF0 0.00 2,150.00 2,150.00 200,000.00 03/12/18 03/15/18 CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 20772JZK1 0.00 1,628.55 1,628.55 165,000.00 03/15/18 Page 19 For the Month Ending March 31, 2018Managed 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 INTEREST 03/28/18 FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 3130ACE26 0.00 1,065.62 1,065.62 155,000.00 03/28/18 03/31/18 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 912828Q37 0.00 1,812.50 1,812.50 290,000.00 03/31/18 23,853.07 23,853.07 0.00 2,825,781.75 Transaction Type Sub-Total PAYDOWNS 03/25/18 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 1,835.95 0.00 1,835.95 (18.35) 0.00 1,835.95 03/01/18 03/25/18 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 16,532.66 0.00 16,532.66 (165.56) 0.00 16,532.66 03/01/18 03/25/18 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 4,948.37 0.00 4,948.37 (49.48) 0.00 4,948.37 03/01/18 0.00 0.00 (233.39) 23,316.98 23,316.98 23,316.98 Transaction Type Sub-Total SELL 03/06/18 FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 3135G0N33 171,813.25 144.62 171,957.87 (2,892.75)(3,048.00)FIFO 175,000.00 03/02/18 03/16/18 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 912828N48 294,621.09 1,087.71 295,708.80 (10,757.81)(8,696.67)FIFO 300,000.00 03/09/18 03/22/18 FHLMC AGENCY NOTES DTD 04/20/2017 1.375% 04/20/2020 3137EAEF2 293,967.00 1,741.67 295,708.67 (5,007.00)(5,317.63)FIFO 300,000.00 03/19/18 2,974.00 (17,062.30)(18,657.56) 763,375.34 760,401.34 775,000.00 Transaction Type Sub-Total (114,523.68) 26,827.07 (87,696.61) (18,890.95) (17,062.30)Managed Account Sub-Total Total Security Transactions ($18,890.95)($87,696.61)$26,827.07 ($114,523.68)($17,062.30) Page 20 For the Month Ending March 31, 2018Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 192,154.11 Opening Balance 03/01/18 03/01/18 Purchase - Interest 17275RAR3 1.00 2,868.75 195,022.86 03/01/18 03/01/18 Purchase - Interest 17275RAR3 1.00 3,187.50 198,210.36 03/05/18 03/05/18 Purchase - Interest 0258M0EE5 1.00 1,980.00 200,190.36 03/05/18 03/05/18 Purchase - Interest 25468PDP8 1.00 1,218.75 201,409.11 03/05/18 03/05/18 Purchase - Interest 14913Q2A6 1.00 2,046.57 203,455.68 03/06/18 03/06/18 Purchase - Principal 3135G0N33 1.00 171,813.25 375,268.93 03/06/18 03/06/18 Purchase - Interest 3135G0N33 1.00 144.62 375,413.55 03/06/18 03/06/18 Redemption - Principal 90275DHG8 1.00 (300,000.00) 75,413.55 03/12/18 03/12/18 Purchase - Interest 89236TCF0 1.00 2,150.00 77,563.55 03/12/18 03/12/18 Purchase - Interest 45905UP32 1.00 5,626.11 83,189.66 03/13/18 03/13/18 Purchase - Interest 45905UP32 1.00 5,625.00 88,814.66 03/13/18 03/13/18 Redemption - Interest 45905UP32 1.00 (5,626.11) 83,188.55 03/15/18 03/15/18 Purchase - Interest 20772JZK1 1.00 1,628.55 84,817.10 03/16/18 03/16/18 Purchase - Interest 912828N48 1.00 1,087.71 85,904.81 03/16/18 03/16/18 Purchase - Principal 912828N48 1.00 294,621.09 380,525.90 03/16/18 03/16/18 Redemption - Principal 45950VLQ7 1.00 (299,775.00) 80,750.90 03/22/18 03/22/18 Purchase - Interest 3137EAEF2 1.00 1,741.67 82,492.57 03/22/18 03/22/18 Purchase - Principal 3137EAEF2 1.00 293,967.00 376,459.57 03/22/18 03/22/18 Redemption - Principal 904764AZ0 1.00 (298,467.00) 77,992.57 03/26/18 03/26/18 Purchase - Interest 3136ANJY4 1.00 3.38 77,995.95 03/26/18 03/26/18 Purchase - Interest 3136AQDQ0 1.00 195.40 78,191.35 Page 21 For the Month Ending March 31, 2018Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 03/26/18 03/26/18 Purchase - Interest 3136AQSW1 1.00 71.05 78,262.40 03/26/18 03/26/18 Purchase - Principal 3136ANJY4 1.00 1,835.95 80,098.35 03/26/18 03/26/18 Purchase - Principal 3136AQDQ0 1.00 16,532.66 96,631.01 03/26/18 03/26/18 Purchase - Principal 3136AQSW1 1.00 4,948.37 101,579.38 03/27/18 03/27/18 IP Fees February 2018 1.00 (2,156.36) 99,423.02 03/27/18 03/27/18 U.S. Bank Fees January 2018 1.00 (146.92) 99,276.10 03/28/18 03/28/18 Purchase - Interest 3130ACE26 1.00 1,065.62 100,341.72 03/29/18 04/02/18 Accrual Income Div Reinvestment - Distributions 1.00 140.88 100,482.60 100,482.60 100,482.60 100,482.60 102,654.29 307.97 0.00 (2,827,411.84) 2,866,678.53 61,215.91 140.88 100,482.60 0.00 (906,171.39) 814,499.88 192,154.11 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 March January-March 1.62% Page 22 Housing Funds CAMP Account For the Month Ending March 31, 2018Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Opening Market Value Purchases Redemptions Change in Value Closing Market Value 34,233.13 83,913.61 (51,291.03) 0.00 $66,855.71 CAMP Pool Unsettled Trades 0.00 80.85 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 5,037,867.61 49,962.50 (78,504.27) 2,529.07 $5,011,854.91 CAMP Managed Account Unsettled Trades 0.00 1,622.28 Cash Dividends and Income March 31, 2018 February 28, 2018 Asset Summary CAMP Pool 66,855.71 34,233.13 CAMP Managed Account 5,011,854.91 5,037,867.61 $5,078,710.62 $5,072,100.74 Total Asset Allocation 1.32% CAMP Pool 98.68% CAMP Managed Account Page 1 For the Month Ending March 31, 2018Managed 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 $34,233.13 83,913.61 (51,291.03) $66,855.71 80.85 $5,037,867.61 (29,137.08) (49,367.19) 49,962.50 0.00 2,529.07 $5,011,854.91 $5,072,100.74 $5,078,710.62 4,734.56 0.00 (3,112.28) $1,622.28 25,000.00 49,410.67 4,691.08 4,137.08 (49,962.50) (33,276.33) 0.00 Managed Account Total 5,109,900.30 5,176,756.01 22,607.25 49,410.67 29,137.08 4,691.08 (49,962.50) (5,140,881.66) (19,361.67) 0.00 22,607.25 100,701.70 29,137.08 4,691.08 (133,876.11) (5,175,114.79) (19,361.67) 80.85 Total Accrual Basis Earnings $5,540.55 $5,621.40 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending March 31, 2018Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 2,045,000.00 1,998,434.80 39.34 Supra-National Agency Bond / Note 275,000.00 270,889.43 5.33 Municipal Bond / Note 30,000.00 29,862.00 0.59 Federal Agency Collateralized Mortgage Obligation 25,410.77 25,272.27 0.50 Federal Agency Bond / Note 700,000.00 682,094.37 13.43 Corporate Note 1,330,000.00 1,312,602.80 25.85 Certificate of Deposit 700,000.00 692,699.24 13.64 Managed Account Sub-Total 5,105,410.77 5,011,854.91 98.68% Accrued Interest 22,607.25 Total Portfolio 5,105,410.77 5,034,462.16 CAMP Pool 66,855.71 66,855.71 1.32 Total Investments 5,172,266.48 5,101,317.87 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 13.64% Cert of Deposit 25.85% Corporate Note 0.50% Fed Agency CMO 13.43% Fed Agy Bond / Note 1.32% Mny Mkt Fund 0.59% Muni Bond / Note 5.33% Supra-National Agency Bond / Note 39.34% 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 2.20% 6.64% 22.22% 24.52% 40.96% 3.46% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Duration to Worst Weighted Average Days to Maturity 2.47 937 1.81% 2.54% Page 3 For the Month Ending March 31, 2018Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Credit Quality (S&P Ratings) 3.67% A 9.13% A+ 7.85% A- 1.97% A-1 1.96% A-1+ 1.45% AA 54.25% AA+ 8.69% AA- 6.31% AAA 1.32% AAAm 3.40% BBB+ Issuer Summary Percentof HoldingsIssuer Market Value 29,580.09 0.58 AMERICAN EXPRESS CO 99,461.30 1.96 AMERICAN HONDA FINANCE 49,129.45 0.97 APPLE INC 49,001.59 0.96 BANK OF AMERICA CO 99,906.20 1.97 BANK OF MONTREAL 99,440.40 1.96 BANK OF NOVA SCOTIA 48,570.40 0.96 BB&T CORPORATION 25,700.05 0.51 BURLINGTON NORTHERN SANTA FE 66,855.71 1.32 CAMP Pool 39,051.32 0.77 CATERPILLAR INC 44,930.79 0.88 CHEVRON CORPORATION 99,748.50 1.96 CISCO SYSTEMS INC 74,305.35 1.46 CITIGROUP INC 24,523.20 0.48 DEERE & COMPANY 214,633.70 4.23 FANNIE MAE 419,163.26 8.25 FEDERAL HOME LOAN BANKS 73,569.68 1.45 FREDDIE MAC 49,595.75 0.98 GOLDMAN SACHS GROUP INC 24,558.38 0.48 HOME DEPOT INC 99,161.00 1.95 INTER-AMERICAN DEVELOPMENT BANK 49,819.05 0.98 INTERNATIONAL FINANCE CORPORATION 121,909.38 2.40 INTL BANK OF RECONSTRUCTION AND DEV 99,441.60 1.96 JP MORGAN CHASE & CO 49,501.40 0.97 MICROSOFT CORP 48,991.70 0.96 MORGAN STANLEY 24,931.08 0.49 NATIONAL RURAL UTILITIES CO FINANCE CORP 99,697.10 1.96 NORDEA BANK AB 24,499.75 0.48 PACCAR FINANCIAL CORP 39,006.44 0.77 PEPSICO INC 96,970.94 1.91 SKANDINAVISKA ENSKILDA BANKEN AB 29,862.00 0.59 STATE OF CONNECTICUT 24,257.35 0.48 STATE STREET CORPORATION Page 4 For the Month Ending March 31, 2018Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Percentof HoldingsIssuer Market Value 99,508.40 1.96 SVENSKA HANDELSBANKEN AB 98,383.00 1.94 SWEDBANK AB 49,025.80 0.97 THE BANK OF NEW YORK MELLON CORPORATION 48,989.10 0.96 THE WALT DISNEY CORPORATION 1,998,434.80 39.35 UNITED STATES TREASURY 73,538.18 1.45 WAL-MART STORES INC 172,264.23 3.39 WELLS FARGO & COMPANY 98,793.20 1.95 WESTPAC BANKING CORP $5,078,710.62 Total 100.00% Page 5 For the Month Ending March 31, 2018Managed 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 09/03/2013 2.125% 08/31/2020 49,734.40 50,456.24 92.39 50,865.23 12/30/1512/28/15AaaAA+ 50,000.00 912828VV9 1.74 US TREASURY NOTES DTD 12/02/2013 2.000% 11/30/2020 24,760.75 25,407.07 167.58 25,713.86 03/04/1603/02/16AaaAA+ 25,000.00 912828A42 1.38 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 9,999.61 10,294.41 59.70 10,502.34 03/31/1603/30/16AaaAA+ 10,000.00 912828A83 1.28 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 88,505.82 90,979.86 395.93 91,613.67 05/31/1605/27/16AaaAA+ 90,000.00 912828N48 1.35 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 24,721.68 25,772.62 43.48 26,222.66 07/08/1607/06/16AaaAA+ 25,000.00 912828B90 0.92 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 53,178.13 55,445.47 1.88 55,700.39 06/29/1606/27/16AaaAA+ 55,000.00 912828Q37 0.98 US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 126,013.68 128,139.69 750.55 127,420.31 01/05/1701/03/17AaaAA+ 130,000.00 912828Q78 1.86 US TREASURY NOTES DTD 05/31/2016 1.375% 05/31/2021 120,986.38 122,532.55 576.06 121,752.93 03/17/1703/15/17AaaAA+ 125,000.00 912828R77 2.02 US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 222,073.20 230,447.37 1,508.24 233,085.94 09/02/1609/01/16AaaAA+ 225,000.00 912828WN6 1.22 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 73,872.08 76,977.39 130.43 77,815.43 10/05/1610/03/16AaaAA+ 75,000.00 912828D72 1.21 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 98,496.10 100,503.34 173.91 100,605.47 07/11/1707/06/17AaaAA+ 100,000.00 912828D72 1.85 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 147,744.15 150,326.33 260.87 150,445.31 12/05/1612/01/16AaaAA+ 150,000.00 912828D72 1.93 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 147,744.15 150,908.21 260.87 151,160.16 04/05/1704/03/17AaaAA+ 150,000.00 912828D72 1.82 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 270,864.28 277,470.17 478.26 277,997.07 06/29/1706/27/17AaaAA+ 275,000.00 912828D72 1.73 Page 6 For the Month Ending March 31, 2018Managed 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 10/31/2016 1.250% 10/31/2021 124,591.74 127,331.72 682.32 126,988.67 10/10/1710/05/17AaaAA+ 130,000.00 912828T67 1.85 US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 239,599.50 246,594.71 1,312.15 246,054.69 08/31/1708/30/17AaaAA+ 250,000.00 912828T67 1.64 US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 63,392.75 64,372.11 511.74 64,324.61 12/06/1712/04/17AaaAA+ 65,000.00 912828X47 2.12 US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 112,156.40 113,618.71 905.39 113,540.04 01/04/1801/03/18AaaAA+ 115,000.00 912828X47 2.18 8,311.75 1,998,434.80 2,047,577.97 1.69 2,051,808.78 2,045,000.00 Security Type Sub-Total Supra-National Agency Bond / Note INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 121,909.38 124,752.51 102.98 124,700.00 09/19/1709/12/17AaaAAA 125,000.00 45905UP32 1.64 INTER-AMERICAN DEVELOPMENT BANK DTD 11/08/2013 2.125% 11/09/2020 99,161.00 100,787.77 838.19 100,926.91 10/10/1710/02/17AaaAAA 100,000.00 4581X0CD8 1.81 INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 49,819.05 49,963.00 54.90 49,962.50 03/16/1803/09/18AaaAAA 50,000.00 45950VLQ7 2.66 996.07 270,889.43 275,503.28 1.89 275,589.41 275,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 29,862.00 30,020.84 26.32 30,084.30 03/25/1503/16/15A1A+ 30,000.00 20772JZK1 1.90 26.32 29,862.00 30,020.84 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 143.83 144.09 0.19 145.53 04/30/1504/15/15AaaAA+ 144.09 3136ANJY4 0.83 Page 7 For the Month Ending March 31, 2018Managed 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 Collateralized Mortgage Obligation FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 7,963.17 8,003.93 12.64 8,074.12 11/30/1511/06/15AaaAA+ 7,994.18 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 17,165.27 17,320.60 23.69 17,445.47 10/30/1510/07/15AaaAA+ 17,272.50 3136AQDQ0 1.08 36.52 25,272.27 25,468.62 1.12 25,665.12 25,410.77 Security Type Sub-Total Federal Agency Bond / Note FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 122,735.13 124,946.47 17.36 124,891.25 09/09/1609/08/16AaaAA+ 125,000.00 3130A9EP2 1.03 FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 103,506.48 104,986.78 545.42 104,975.85 11/17/1611/16/16AaaAA+ 105,000.00 3130AA3R7 1.38 FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 88,641.54 89,963.06 123.75 89,942.40 02/28/1702/24/17AaaAA+ 90,000.00 3135G0T29 1.52 FHLMC AGENCY NOTES DTD 04/20/2017 1.375% 04/20/2020 73,569.68 74,823.27 461.20 74,743.50 04/20/1704/19/17AaaAA+ 75,000.00 3137EAEF2 1.49 FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 73,161.15 74,802.71 8.59 74,759.25 09/08/1709/07/17AaaAA+ 75,000.00 3130ACE26 1.48 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 119,760.50 124,494.91 300.78 124,239.88 07/15/1607/14/16AaaAA+ 125,000.00 3130A8QS5 1.25 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 23,980.93 24,941.55 38.19 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 76,738.96 79,778.54 122.22 79,676.00 08/19/1608/17/16AaaAA+ 80,000.00 3135G0N82 1.33 1,617.51 682,094.37 698,737.29 1.33 698,142.61 700,000.00 Security Type Sub-Total Corporate Note CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 44,930.79 45,000.00 208.31 45,000.00 06/24/1306/17/13Aa2AA- 45,000.00 166764AE0 1.72 Page 8 For the Month Ending March 31, 2018Managed 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 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 49,874.25 50,100.22 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 49,874.25 50,126.16 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 49,595.75 49,988.40 433.33 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 24,770.00 24,994.76 162.29 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 99,461.30 99,946.25 287.50 99,815.00 09/09/1409/04/14A2A+ 100,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 25,700.05 26,191.65 587.50 27,597.50 06/08/1606/03/16A3A+ 25,000.00 12189TBC7 1.48 CITIGROUP INC (CALLABLE) CORP NOTE DTD 01/10/2017 2.450% 01/10/2020 49,535.35 49,987.99 275.63 49,980.00 01/10/1701/04/17Baa1BBB+ 50,000.00 172967LF6 2.46 WELLS FARGO & CO CORP BONDS DTD 02/02/2015 2.150% 01/30/2020 172,264.23 175,463.15 637.53 176,223.25 02/05/1502/02/15A2A- 175,000.00 94974BGF1 2.00 MICROSOFT CORP NOTES DTD 02/06/2017 1.850% 02/06/2020 49,501.40 49,979.16 141.32 49,966.50 02/06/1701/30/17AaaAAA 50,000.00 594918BV5 1.87 AMERICAN EXPRESS CREDIT (CALLABLE) NOTE DTD 03/03/2017 2.200% 03/03/2020 29,580.09 29,979.77 51.33 29,968.80 03/03/1702/28/17A2A- 30,000.00 0258M0EE5 2.24 HOME DEPOT INC CORP NOTES DTD 06/05/2017 1.800% 06/05/2020 24,558.38 24,989.40 145.00 24,985.50 06/05/1705/24/17A2A 25,000.00 437076BQ4 1.82 WALT DISNEY COMPANY CORP NOTES DTD 06/06/2017 1.800% 06/05/2020 48,989.10 49,957.54 290.00 49,942.00 06/06/1706/01/17A2A+ 50,000.00 25468PDU7 1.84 JOHN DEERE CAPITAL CORP NOTES DTD 06/22/2017 1.950% 06/22/2020 24,523.20 24,988.61 134.06 24,984.75 06/22/1706/19/17A2A 25,000.00 24422ETS8 1.97 Page 9 For the Month Ending March 31, 2018Managed 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 99,441.60 100,235.05 748.61 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 39,051.32 39,972.60 55.50 39,966.40 09/07/1709/05/17A3A 40,000.00 14913Q2A6 1.88 PACCAR FINANCIAL CORP NOTES DTD 11/13/2017 2.050% 11/13/2020 24,499.75 24,998.03 196.46 24,997.75 11/13/1711/06/17A1A+ 25,000.00 69371RN85 2.05 APPLE INC DTD 11/13/2017 2.000% 11/13/2020 49,129.45 49,963.23 383.33 49,958.00 11/13/1711/06/17Aa1AA+ 50,000.00 037833DJ6 2.03 WAL-MART STORES INC CORP NOTE DTD 10/20/2017 1.900% 12/15/2020 73,538.18 74,907.05 637.29 74,891.25 10/20/1710/11/17Aa2AA 75,000.00 931142EA7 1.95 BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 24,367.90 24,989.66 89.58 24,988.50 10/26/1710/23/17A2A- 25,000.00 05531FAZ6 2.17 NATIONAL RURAL UTIL COOP DTD 02/26/2018 2.900% 03/15/2021 24,931.08 24,973.15 70.49 24,972.25 02/26/1802/21/18A2A 25,000.00 63743HER9 2.94 PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 39,006.44 39,993.09 380.00 39,992.00 10/10/1710/05/17A1A+ 40,000.00 713448DX3 2.01 BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 49,025.80 50,717.66 576.39 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00 BANK OF AMERICA CORP NOTE DTD 04/19/2016 2.625% 04/19/2021 14,775.68 15,103.13 177.19 15,116.40 11/03/1711/01/17A3A- 15,000.00 06051GFW4 2.39 MORGAN STANLEY CORP NOTES DTD 04/21/2016 2.500% 04/21/2021 48,991.70 50,143.65 555.56 50,162.00 11/03/1711/01/17A3BBB+ 50,000.00 61746BEA0 2.40 BRANCH BANKING & TRUST (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 24,202.50 24,989.54 200.73 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 24,257.35 24,939.54 178.75 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03 Page 10 For the Month Ending March 31, 2018Managed 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 AMERICA CORP (CALLABLE) DTD 09/18/2017 2.328% 10/01/2021 34,225.91 35,000.00 436.82 35,000.00 09/18/1709/13/17A3A- 35,000.00 06051GGS2 2.33 8,217.58 1,312,602.80 1,332,618.44 2.10 1,335,942.35 1,330,000.00 Security Type Sub-Total Certificate of Deposit SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 99,508.40 100,000.00 425.25 100,000.00 01/12/1701/10/17P-1A-1+ 100,000.00 86958JHB8 1.91 BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 99,906.20 100,000.00 282.00 100,000.00 02/09/1702/08/17P-1A-1 100,000.00 06427KRC3 1.90 BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 99,440.40 100,000.00 944.39 100,000.00 04/06/1704/05/17A1A+ 100,000.00 06417GUE6 1.91 SKANDINAV ENSKILDA BANKEN NY CD DTD 08/04/2017 1.840% 08/02/2019 96,970.94 99,973.86 296.44 99,961.00 08/04/1708/03/17Aa3A+ 100,000.00 83050FXT3 1.85 NORDEA BANK AB NY CD DTD 02/22/2018 2.720% 02/20/2020 99,697.10 100,000.00 294.67 100,000.00 02/22/1802/20/18Aa3AA- 100,000.00 65590ASN7 2.72 WESTPAC BANKING CORP NY CD DTD 08/07/2017 2.050% 08/03/2020 98,793.20 100,000.00 307.50 100,000.00 08/07/1708/03/17Aa3AA- 100,000.00 96121T4A3 2.05 SWEDBANK (NEW YORK) CERT DEPOS DTD 11/17/2017 2.270% 11/16/2020 98,383.00 100,000.00 851.25 100,000.00 11/17/1711/16/17Aa3AA- 100,000.00 87019U6D6 2.30 3,401.50 692,699.24 699,973.86 2.09 699,961.00 700,000.00 Security Type Sub-Total 5,105,410.77 5,117,193.57 1.81 22,607.25 5,109,900.30 5,011,854.91 Managed Account Sub-Total Money Market Mutual Fund CAMP Pool 66,855.71 66,855.71 0.00 66,855.71 NRAAAm 66,855.71 66,855.71 66,855.71 0.00 66,855.71 66,855.71 Money Market Sub-Total Page 11 For the Month Ending March 31, 2018Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS $5,172,266.48 $5,184,049.28 $22,607.25 $5,176,756.01 $5,078,710.62 1.81% $5,101,317.87 $22,607.25 Total Investments Accrued Interest Securities Sub-Total Page 12 For the Month Ending March 31, 2018Managed 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 2.34 (721.84)(1,130.83) 49,734.40 99.47 MORGANST 50,000.00 912828VV9US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 2.35 2.34 2.56 (646.32)(953.11) 24,760.75 99.04 MERRILL 25,000.00 912828A42US TREASURY NOTES DTD 12/02/2013 2.000% 11/30/2020 2.37 2.56 2.63 (294.80)(502.73) 9,999.61 100.00 MERRILL 10,000.00 912828A83US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 2.38 2.63 2.65 (2,474.04)(3,107.85) 88,505.82 98.34 MORGANST 90,000.00 912828N48US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 2.38 2.65 2.81 (1,050.94)(1,500.98) 24,721.68 98.89 MORGANST 25,000.00 912828B90US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 2.40 2.81 2.92 (2,267.34)(2,522.26) 53,178.13 96.69 CITIGRP 55,000.00 912828Q37US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 2.40 2.92 2.97 (2,126.01)(1,406.63) 126,013.68 96.93 MORGAN_S 130,000.00 912828Q78US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 2.41 2.97 3.06 (1,546.17)(766.55) 120,986.38 96.79 MORGAN_S 125,000.00 912828R77US TREASURY NOTES DTD 05/31/2016 1.375% 05/31/2021 2.43 3.06 3.03 (8,374.17)(11,012.74) 222,073.20 98.70 HSBC 225,000.00 912828WN6US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 2.43 3.03 3.27 (3,105.31)(3,943.35) 73,872.08 98.50 HSBC 75,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (2,007.24)(2,109.37) 98,496.10 98.50 MORGAN_S 100,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (2,582.18)(2,701.16) 147,744.15 98.50 HSBC 150,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (3,164.06)(3,416.01) 147,744.15 98.50 MORGAN_S 150,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (6,605.89)(7,132.79) 270,864.28 98.50 MORGAN_S 275,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.45 (2,739.98)(2,396.93) 124,591.74 95.84 MERRILL 130,000.00 912828T67US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 2.47 3.45 3.45 (6,995.21)(6,455.19) 239,599.50 95.84 MERRILL 250,000.00 912828T67US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 2.47 3.45 3.87 (979.36)(931.86) 63,392.75 97.53 MERRILL 65,000.00 912828X47US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 2.52 3.87 Page 13 For the Month Ending March 31, 2018Managed 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 3.87 (1,462.31)(1,383.64) 112,156.40 97.53 CITIGRP 115,000.00 912828X47US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 2.52 3.87 (53,373.98) 2.45 3.22 (49,143.17) 1,998,434.80 2,045,000.00 Security Type Sub-Total 3.22 Supra-National Agency Bond / Note 2.38 (2,843.13)(2,790.62) 121,909.38 97.53 HSBC 125,000.00 45905UP32INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 2.61 2.38 2.50 (1,626.77)(1,765.91) 99,161.00 99.16 HSBC 100,000.00 4581X0CD8INTER-AMERICAN DEVELOPMENT BANK DTD 11/08/2013 2.125% 11/09/2020 2.46 2.50 2.81 (143.95)(143.45) 49,819.05 99.64 HSBC 50,000.00 45950VLQ7INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 2.76 2.81 (4,699.98) 2.58 2.50 (4,613.85) 270,889.43 275,000.00 Security Type Sub-Total 2.50 Municipal Bond / Note 0.94 (158.84)(222.30) 29,862.00 99.54 VINING 30,000.00 20772JZK1CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 2.46 0.94 (222.30) 2.46 0.94 (158.84) 29,862.00 30,000.00 Security Type Sub-Total 0.94 Federal Agency Collateralized Mortgage Obligation 0.07 (0.26)(1.70) 143.83 99.82 GOLDMAN 144.09 3136ANJY4FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 2.74 0.07 0.62 (40.76)(110.95) 7,963.17 99.61 GOLDMAN 7,994.18 3136AQSW1FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 2.32 0.43 1.25 (155.33)(280.20) 17,165.27 99.38 MORGANST 17,272.50 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 2.06 0.69 (392.85) 2.14 1.04 (196.35) 25,272.27 25,410.77 Security Type Sub-Total 0.60 Federal Agency Bond / Note Page 14 For the Month Ending March 31, 2018Managed 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 1.46 (2,211.34)(2,156.12) 122,735.13 98.19 BARCLAYS 125,000.00 3130A9EP2FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 2.25 1.46 1.58 (1,480.30)(1,469.37) 103,506.48 98.58 MERRILL 105,000.00 3130AA3R7FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 2.27 1.58 1.87 (1,321.52)(1,300.86) 88,641.54 98.49 JPM_CHAS 90,000.00 3135G0T29FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 2.31 1.87 2.00 (1,253.59)(1,173.82) 73,569.68 98.09 WELLS_FA 75,000.00 3137EAEF2FHLMC AGENCY NOTES DTD 04/20/2017 1.375% 04/20/2020 2.33 2.00 2.43 (1,641.56)(1,598.10) 73,161.15 97.55 BARCLAYS 75,000.00 3130ACE26FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 2.39 2.43 3.19 (4,734.41)(4,479.38) 119,760.50 95.81 TD SEC U 125,000.00 3130A8QS5FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 2.46 3.19 3.27 (960.62)(933.55) 23,980.93 95.92 TD SEC U 25,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.52 3.27 3.27 (3,039.58)(2,937.04) 76,738.96 95.92 CITIGRP 80,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.52 3.27 (16,048.24) 2.36 2.26 (16,642.92) 682,094.37 700,000.00 Security Type Sub-Total 2.26 Corporate Note 0.23 (69.21)(69.21) 44,930.79 99.85 05/24/18BARCLAYS 45,000.00 166764AE0CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 2.35 0.22 0.90 (225.97)(600.75) 49,874.25 99.75 BONY 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 2.40 0.90 0.90 (251.91)(595.25) 49,874.25 99.75 BNP PARI 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 2.40 0.90 1.04 (392.65)(372.25) 49,595.75 99.19 03/25/19MIZUHO 50,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 2.77 1.03 1.15 (224.76)(217.00) 24,770.00 99.08 CITIGRP 25,000.00 172967KS9CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 2.84 1.15 Page 15 For the Month Ending March 31, 2018Managed 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 1.34 (484.95)(353.70) 99,461.30 99.46 MERRILL 100,000.00 02665WAH4AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 2.65 1.34 1.41 (491.60)(1,897.45) 25,700.05 102.80 GOLDMAN 25,000.00 12189TBC7BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 2.78 1.41 1.71 (452.64)(444.65) 49,535.35 99.07 12/10/19CITIGRP 50,000.00 172967LF6CITIGROUP INC (CALLABLE) CORP NOTE DTD 01/10/2017 2.450% 01/10/2020 2.99 1.71 1.77 (3,198.92)(3,959.02) 172,264.23 98.44 JEFFERIE 175,000.00 94974BGF1WELLS FARGO & CO CORP BONDS DTD 02/02/2015 2.150% 01/30/2020 3.03 1.77 1.80 (477.76)(465.10) 49,501.40 99.00 HSBC 50,000.00 594918BV5MICROSOFT CORP NOTES DTD 02/06/2017 1.850% 02/06/2020 2.40 1.80 1.86 (399.68)(388.71) 29,580.09 98.60 02/01/20MERRILL 30,000.00 0258M0EE5AMERICAN EXPRESS CREDIT (CALLABLE) NOTE DTD 03/03/2017 2.200% 03/03/2020 2.95 1.86 2.11 (431.02)(427.12) 24,558.38 98.23 JPM_CHAS 25,000.00 437076BQ4HOME DEPOT INC CORP NOTES DTD 06/05/2017 1.800% 06/05/2020 2.64 2.11 2.10 (968.44)(952.90) 48,989.10 97.98 DEUTSCHE 50,000.00 25468PDU7WALT DISNEY COMPANY CORP NOTES DTD 06/06/2017 1.800% 06/05/2020 2.76 2.10 2.15 (465.41)(461.55) 24,523.20 98.09 DEUTSCHE 25,000.00 24422ETS8JOHN DEERE CAPITAL CORP NOTES DTD 06/22/2017 1.950% 06/22/2020 2.84 2.15 2.13 (793.45)(1,055.40) 99,441.60 99.44 05/23/20JPMCHASE 100,000.00 46625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 3.01 2.11 2.35 (921.28)(915.08) 39,051.32 97.63 BARCLAYS 40,000.00 14913Q2A6CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 2.87 2.35 2.50 (498.28)(498.00) 24,499.75 98.00 CITIGRP 25,000.00 69371RN85PACCAR FINANCIAL CORP NOTES DTD 11/13/2017 2.050% 11/13/2020 2.85 2.50 2.51 (833.78)(828.55) 49,129.45 98.26 JPM_CHAS 50,000.00 037833DJ6APPLE INC DTD 11/13/2017 2.000% 11/13/2020 2.69 2.51 2.59 (1,368.87)(1,353.07) 73,538.18 98.05 MORGAN_S 75,000.00 931142EA7WAL-MART STORES INC CORP NOTE DTD 10/20/2017 1.900% 12/15/2020 2.65 2.59 2.71 (621.76)(620.60) 24,367.90 97.47 01/01/21MORGAN_S 25,000.00 05531FAZ6BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 3.09 2.72 Page 16 For the Month Ending March 31, 2018Managed 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 2.80 (42.07)(41.17) 24,931.08 99.72 RBC 25,000.00 63743HER9NATIONAL RURAL UTIL COOP DTD 02/26/2018 2.900% 03/15/2021 3.00 2.80 2.89 (986.65)(985.56) 39,006.44 97.52 03/15/21MERRILL 40,000.00 713448DX3PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 2.86 2.89 2.86 (1,691.86)(2,123.20) 49,025.80 98.05 03/15/21KEYBAN 50,000.00 06406FAA1BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 3.18 2.86 2.87 (327.45)(340.72) 14,775.68 98.50 MERRILL 15,000.00 06051GFW4BANK OF AMERICA CORP NOTE DTD 04/19/2016 2.625% 04/19/2021 3.14 2.87 2.88 (1,151.95)(1,170.30) 48,991.70 97.98 MORGAN_S 50,000.00 61746BEA0MORGAN STANLEY CORP NOTES DTD 04/21/2016 2.500% 04/21/2021 3.20 2.88 2.95 (787.04)(781.00) 24,202.50 96.81 04/09/21SCOTIA 25,000.00 05531FAV5BRANCH BANKING & TRUST (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 3.13 2.96 2.99 (682.19)(648.15) 24,257.35 97.03 GOLDMAN 25,000.00 857477AV5STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 2.95 2.99 3.79 (774.09)(774.09) 34,225.91 97.79 10/01/20MERRILL 35,000.00 06051GGS2BANK OF AMERICA CORP (CALLABLE) DTD 09/18/2017 2.328% 10/01/2021 2.61 2.66 (23,339.55) 2.82 1.99 (20,015.64) 1,312,602.80 1,330,000.00 Security Type Sub-Total 1.96 Certificate of Deposit 0.77 (491.60)(491.60) 99,508.40 99.51 MERRILL 100,000.00 86958JHB8SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 2.48 0.77 0.85 (93.80)(93.80) 99,906.20 99.91 GOLDMAN 100,000.00 06427KRC3BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 1.94 0.85 1.01 (559.60)(559.60) 99,440.40 99.44 MERRILL 100,000.00 06417GUE6BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 1.50 1.01 1.30 (3,002.92)(2,990.06) 96,970.94 96.97 BARCLAYS 100,000.00 83050FXT3SKANDINAV ENSKILDA BANKEN NY CD DTD 08/04/2017 1.840% 08/02/2019 2.75 1.30 1.82 (302.90)(302.90) 99,697.10 99.70 GOLDMAN 100,000.00 65590ASN7NORDEA BANK AB NY CD DTD 02/22/2018 2.720% 02/20/2020 2.89 1.82 Page 17 For the Month Ending March 31, 2018Managed 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 2.32 (1,206.80)(1,206.80) 98,793.20 98.79 JPM_CHAS 100,000.00 96121T4A3WESTPAC BANKING CORP NY CD DTD 08/07/2017 2.050% 08/03/2020 2.50 2.32 2.51 (1,617.00)(1,617.00) 98,383.00 98.38 MERRILL 100,000.00 87019U6D6SWEDBANK (NEW YORK) CERT DEPOS DTD 11/17/2017 2.270% 11/16/2020 2.95 2.51 (7,261.76) 2.43 1.51 (7,274.62) 692,699.24 700,000.00 Security Type Sub-Total 1.51 5,105,410.77 5,011,854.91 (105,338.66) (98,045.39) 2.47 2.54 Managed Account Sub-Total 2.46 Money Market Mutual Fund 0.00 0.00 0.00 66,855.71 1.00 66,855.71 CAMP Pool 0.00 66,855.71 66,855.71 0.00 0.00 0.00 Money Market Sub-Total 0.00 Total Investments $5,101,317.87 $22,607.25 $5,078,710.62 Accrued Interest Securities Sub-Total $5,172,266.48 ($105,338.66) ($98,045.39) 2.47 2.54% 2.46 Page 18 For the Month Ending March 31, 2018Managed 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 03/16/18 INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 45950VLQ7 (49,962.50) 0.00 (49,962.50) 50,000.00 03/09/18 0.00 (49,962.50)(49,962.50) 50,000.00 Transaction Type Sub-Total INTEREST 03/01/18 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 17275RAR3 0.00 531.25 531.25 50,000.00 03/01/18 03/01/18 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 17275RAR3 0.00 531.25 531.25 50,000.00 03/01/18 03/25/18 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 0.00 33.18 33.18 20,079.93 03/01/18 03/25/18 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 0.00 0.63 0.63 484.07 03/01/18 03/25/18 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 0.00 14.21 14.21 8,983.85 03/01/18 03/03/18 AMERICAN EXPRESS CREDIT (CALLABLE) NOTE DTD 03/03/2017 2.200% 03/03/2020 0258M0EE5 0.00 330.00 330.00 30,000.00 03/03/18 03/04/18 CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 14913Q2A6 0.00 363.83 363.83 40,000.00 03/04/18 03/06/18 BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 06406HCJ6 0.00 168.75 168.75 25,000.00 03/06/18 03/12/18 INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 45905UP32 0.00 937.50 937.50 125,000.00 03/12/18 03/15/18 CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 20772JZK1 0.00 296.10 296.10 30,000.00 03/15/18 03/26/18 FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 3130A9EP2 0.00 625.00 625.00 125,000.00 03/26/18 03/28/18 FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 3130ACE26 0.00 515.63 515.63 75,000.00 03/28/18 Page 19 For the Month Ending March 31, 2018Managed 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 INTEREST 03/31/18 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 912828Q37 0.00 343.75 343.75 55,000.00 03/31/18 4,691.08 4,691.08 0.00 634,547.85 Transaction Type Sub-Total MATURITY 03/06/18 BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 06406HCJ6 25,000.00 0.00 25,000.00 7.25 0.00 25,000.00 03/06/18 0.00 0.00 7.25 25,000.00 25,000.00 25,000.00 Transaction Type Sub-Total PAYDOWNS 03/25/18 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 2,807.43 0.00 2,807.43 (28.11) 0.00 2,807.43 03/01/18 03/25/18 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 989.67 0.00 989.67 (9.90) 0.00 989.67 03/01/18 03/25/18 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 339.98 0.00 339.98 (3.40) 0.00 339.98 03/01/18 0.00 0.00 (41.41) 4,137.08 4,137.08 4,137.08 Transaction Type Sub-Total SELL 03/16/18 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 912828B90 49,367.19 43.48 49,410.67 (3,078.12)(2,200.84)FIFO 50,000.00 03/09/18 43.48 (2,200.84)(3,078.12) 49,410.67 49,367.19 50,000.00 Transaction Type Sub-Total 28,541.77 4,734.56 33,276.33 (3,112.28) (2,200.84)Managed Account Sub-Total Total Security Transactions ($3,112.28)$33,276.33 $4,734.56 $28,541.77 ($2,200.84) Page 20 For the Month Ending March 31, 2018Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 34,233.13 Opening Balance 03/01/18 03/01/18 Purchase - Interest 17275RAR3 1.00 531.25 34,764.38 03/01/18 03/01/18 Purchase - Interest 17275RAR3 1.00 531.25 35,295.63 03/05/18 03/05/18 Purchase - Interest 0258M0EE5 1.00 330.00 35,625.63 03/05/18 03/05/18 Purchase - Interest 14913Q2A6 1.00 363.83 35,989.46 03/06/18 03/06/18 Purchase - Interest 06406HCJ6 1.00 168.75 36,158.21 03/06/18 03/06/18 Purchase - Principal 06406HCJ6 1.00 25,000.00 61,158.21 03/12/18 03/12/18 Purchase - Interest 45905UP32 1.00 937.68 62,095.89 03/13/18 03/13/18 Purchase - Interest 45905UP32 1.00 937.50 63,033.39 03/13/18 03/13/18 Redemption - Interest 45905UP32 1.00 (937.68) 62,095.71 03/15/18 03/15/18 Purchase - Interest 20772JZK1 1.00 296.10 62,391.81 03/16/18 03/16/18 Purchase - Principal 912828B90 1.00 49,367.19 111,759.00 03/16/18 03/16/18 Purchase - Interest 912828B90 1.00 43.48 111,802.48 03/16/18 03/16/18 Redemption - Principal 45950VLQ7 1.00 (49,962.50) 61,839.98 03/26/18 03/26/18 Purchase - Interest 3130A9EP2 1.00 625.00 62,464.98 03/26/18 03/26/18 Purchase - Interest 3136ANJY4 1.00 0.63 62,465.61 03/26/18 03/26/18 Purchase - Interest 3136AQDQ0 1.00 33.18 62,498.79 03/26/18 03/26/18 Purchase - Interest 3136AQSW1 1.00 14.21 62,513.00 03/26/18 03/26/18 Purchase - Principal 3136ANJY4 1.00 339.98 62,852.98 03/26/18 03/26/18 Purchase - Principal 3136AQDQ0 1.00 2,807.43 65,660.41 03/26/18 03/26/18 Purchase - Principal 3136AQSW1 1.00 989.67 66,650.08 03/27/18 03/27/18 IP Fees February 2018 1.00 (365.92) 66,284.16 Page 21 For the Month Ending March 31, 2018Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 03/27/18 03/27/18 U.S. Bank Fees January 2018 1.00 (24.93) 66,259.23 03/28/18 03/28/18 Purchase - Interest 3130ACE26 1.00 515.63 66,774.86 03/29/18 04/02/18 Accrual Income Div Reinvestment - Distributions 1.00 80.85 66,855.71 66,855.71 66,855.71 66,855.71 58,433.92 110.87 0.00 (291,064.24) 340,416.69 17,503.26 80.85 66,855.71 0.00 (51,291.03) 83,913.61 34,233.13 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 March January-March 1.62% Page 22 Successor Agency CAMP Account For the Month Ending March 31, 2018Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Opening Market Value Purchases Redemptions Change in Value Closing Market Value 34,674.98 59,025.97 (51,494.12) 0.00 $42,206.83 CAMP Pool Unsettled Trades 0.00 52.55 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 5,238,337.97 49,962.50 (53,504.27) 2,648.56 $5,237,444.76 CAMP Managed Account Unsettled Trades 0.00 1,568.15 Cash Dividends and Income March 31, 2018 February 28, 2018 Asset Summary CAMP Pool 42,206.83 34,674.98 CAMP Managed Account 5,237,444.76 5,238,337.97 $5,279,651.59 $5,273,012.95 Total Asset Allocation 0.80% CAMP Pool 99.20% CAMP Managed Account Page 1 For the Month Ending March 31, 2018Managed 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 $34,674.98 59,025.97 (51,494.12) $42,206.83 52.55 $5,238,337.97 (4,137.08) (49,367.19) 49,962.50 0.00 2,648.56 $5,237,444.76 $5,273,012.95 $5,279,651.59 4,687.68 0.00 (3,119.53) $1,568.15 0.00 49,410.67 4,644.20 4,137.08 (49,962.50) (8,229.45) 0.00 Managed Account Total 5,339,092.90 5,381,299.73 23,883.81 49,410.67 4,137.08 4,644.20 (49,962.50) (5,345,027.80) (20,429.55) 0.00 23,883.81 100,904.79 4,137.08 4,644.20 (108,988.47) (5,379,702.78) (20,429.55) 52.55 Total Accrual Basis Earnings $5,748.81 $5,801.36 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending March 31, 2018Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 1,995,000.00 1,948,981.29 36.92 Supra-National Agency Bond / Note 300,000.00 295,271.30 5.59 Municipal Bond / Note 30,000.00 29,862.00 0.57 Federal Agency Collateralized Mortgage Obligation 25,410.77 25,272.27 0.48 Federal Agency Bond / Note 995,000.00 972,211.76 18.41 Corporate Note 1,290,000.00 1,273,146.90 24.11 Certificate of Deposit 700,000.00 692,699.24 13.12 Managed Account Sub-Total 5,335,410.77 5,237,444.76 99.20% Accrued Interest 23,883.81 Total Portfolio 5,335,410.77 5,261,328.57 CAMP Pool 42,206.83 42,206.83 0.80 Total Investments 5,377,617.60 5,303,535.40 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 13.12% Cert of Deposit 24.11% Corporate Note 0.48% Fed Agency CMO 18.41% Fed Agy Bond / Note 0.80% Mny Mkt Fund 0.57% Muni Bond / Note 5.59% Supra-National Agency Bond / Note 36.92% 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 1.37% 6.38% 24.91% 22.56% 41.27% 3.51% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Duration to Worst Weighted Average Days to Maturity 2.44 928 1.78% 2.52% Page 3 For the Month Ending March 31, 2018Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Credit Quality (S&P Ratings) 4.00% A 8.79% A+ 5.22% A- 1.89% A-1 1.88% A-1+ 1.39% AA 56.75% AA+ 9.48% AA- 6.53% AAA 0.80% AAAm 3.27% BBB+ Issuer Summary Percentof HoldingsIssuer Market Value 29,580.09 0.56 AMERICAN EXPRESS CO 99,461.30 1.88 AMERICAN HONDA FINANCE 49,129.45 0.93 APPLE INC 49,001.59 0.93 BANK OF AMERICA CO 99,906.20 1.89 BANK OF MONTREAL 99,440.40 1.88 BANK OF NOVA SCOTIA 48,570.40 0.92 BB&T CORPORATION 25,700.05 0.49 BURLINGTON NORTHERN SANTA FE 42,206.83 0.80 CAMP Pool 39,051.32 0.74 CATERPILLAR INC 29,953.86 0.57 CHEVRON CORPORATION 99,748.50 1.89 CISCO SYSTEMS INC 74,305.35 1.41 CITIGROUP INC 49,250.60 0.93 DEERE & COMPANY 474,611.34 8.99 FANNIE MAE 409,768.73 7.76 FEDERAL HOME LOAN BANKS 113,103.96 2.14 FREDDIE MAC 49,595.75 0.94 GOLDMAN SACHS GROUP INC 24,558.38 0.47 HOME DEPOT INC 99,161.00 1.88 INTER-AMERICAN DEVELOPMENT BANK 49,819.05 0.94 INTERNATIONAL FINANCE CORPORATION 146,291.25 2.77 INTL BANK OF RECONSTRUCTION AND DEV 99,441.60 1.88 JP MORGAN CHASE & CO 49,501.40 0.94 MICROSOFT CORP 48,991.70 0.93 MORGAN STANLEY 24,931.08 0.47 NATIONAL RURAL UTILITIES CO FINANCE CORP 99,697.10 1.89 NORDEA BANK AB 24,499.75 0.46 PACCAR FINANCIAL CORP 39,006.44 0.74 PEPSICO INC 96,970.94 1.84 SKANDINAVISKA ENSKILDA BANKEN AB 29,862.00 0.57 STATE OF CONNECTICUT 24,257.35 0.46 STATE STREET CORPORATION Page 4 For the Month Ending March 31, 2018Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Percentof HoldingsIssuer Market Value 99,508.40 1.88 SVENSKA HANDELSBANKEN AB 98,383.00 1.86 SWEDBANK AB 49,025.80 0.93 THE BANK OF NEW YORK MELLON CORPORATION 49,141.83 0.93 THE WALT DISNEY CORPORATION 73,765.13 1.40 TOYOTA MOTOR CORP 1,948,981.29 36.92 UNITED STATES TREASURY 73,538.18 1.39 WAL-MART STORES INC 49,140.00 0.93 WELLS FARGO & COMPANY 98,793.20 1.87 WESTPAC BANKING CORP $5,279,651.59 Total 100.00% Page 5 For the Month Ending March 31, 2018Managed 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 09/03/2013 2.125% 08/31/2020 14,920.32 15,136.87 27.72 15,259.57 12/30/1512/28/15AaaAA+ 15,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 34,459.95 35,358.03 257.18 35,648.05 02/03/1602/01/16AaaAA+ 35,000.00 912828WC0 1.35 US TREASURY NOTES DTD 12/02/2013 2.000% 11/30/2020 24,760.75 25,407.07 167.58 25,713.87 03/04/1603/02/16AaaAA+ 25,000.00 912828A42 1.38 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 14,750.97 15,163.31 65.99 15,268.94 05/31/1605/27/16AaaAA+ 15,000.00 912828N48 1.35 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 53,178.13 55,445.47 1.88 55,700.39 06/29/1606/27/16AaaAA+ 55,000.00 912828Q37 0.98 US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 126,013.68 128,139.69 750.55 127,420.32 01/05/1701/03/17AaaAA+ 130,000.00 912828Q78 1.86 US TREASURY NOTES DTD 05/31/2016 1.375% 05/31/2021 96,789.10 98,026.04 460.85 97,402.34 03/17/1703/15/17AaaAA+ 100,000.00 912828R77 2.02 US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 197,398.40 204,842.11 1,340.66 207,187.50 09/02/1609/01/16AaaAA+ 200,000.00 912828WN6 1.22 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 123,120.13 128,295.65 217.39 129,692.38 10/05/1610/03/16AaaAA+ 125,000.00 912828D72 1.21 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 123,120.13 125,271.94 217.39 125,371.09 12/05/1612/01/16AaaAA+ 125,000.00 912828D72 1.93 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 147,744.15 150,755.02 260.87 150,908.20 07/11/1707/06/17AaaAA+ 150,000.00 912828D72 1.85 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 221,616.23 226,362.32 391.30 226,740.23 04/05/1704/03/17AaaAA+ 225,000.00 912828D72 1.82 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 221,616.23 227,021.05 391.30 227,452.15 06/29/1706/27/17AaaAA+ 225,000.00 912828D72 1.73 US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 124,591.74 127,331.72 682.32 126,988.67 10/10/1710/05/17AaaAA+ 130,000.00 912828T67 1.85 Page 6 For the Month Ending March 31, 2018Managed 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 10/31/2016 1.250% 10/31/2021 239,599.50 246,594.71 1,312.15 246,054.69 08/31/1708/30/17AaaAA+ 250,000.00 912828T67 1.64 US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 73,145.48 74,275.52 590.47 74,220.70 12/06/1712/04/17AaaAA+ 75,000.00 912828X47 2.12 US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 112,156.40 113,618.71 905.39 113,540.04 01/04/1801/03/18AaaAA+ 115,000.00 912828X47 2.18 8,040.99 1,948,981.29 1,997,045.23 1.70 2,000,569.13 1,995,000.00 Security Type Sub-Total Supra-National Agency Bond / Note INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 146,291.25 149,703.01 123.58 149,640.00 09/19/1709/12/17AaaAAA 150,000.00 45905UP32 1.64 INTER-AMERICAN DEVELOPMENT BANK DTD 11/08/2013 2.125% 11/09/2020 99,161.00 100,787.77 838.19 100,926.91 10/10/1710/02/17AaaAAA 100,000.00 4581X0CD8 1.81 INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 49,819.05 49,963.00 54.90 49,962.50 03/16/1803/09/18AaaAAA 50,000.00 45950VLQ7 2.66 1,016.67 295,271.30 300,453.78 1.87 300,529.41 300,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 29,862.00 30,020.84 26.32 30,084.30 03/25/1503/16/15A1A+ 30,000.00 20772JZK1 1.90 26.32 29,862.00 30,020.84 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 143.83 144.09 2.02 145.53 04/30/1504/15/15AaaAA+ 144.09 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 7,963.17 8,003.93 12.64 8,074.12 11/30/1511/06/15AaaAA+ 7,994.18 3136AQSW1 1.20 Page 7 For the Month Ending March 31, 2018Managed 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 Collateralized Mortgage Obligation FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 17,165.27 17,320.60 23.69 17,445.47 10/30/1510/07/15AaaAA+ 17,272.50 3136AQDQ0 1.08 38.35 25,272.27 25,468.62 1.12 25,665.12 25,410.77 Security Type Sub-Total Federal Agency Bond / Note FREDDIE MAC NOTES DTD 07/19/2017 1.375% 08/15/2019 39,534.28 39,960.98 70.28 39,941.20 07/19/1707/18/17AaaAA+ 40,000.00 3137EAEH8 1.45 FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 122,926.00 124,907.35 114.58 124,805.00 09/02/1608/31/16AaaAA+ 125,000.00 3135G0P49 1.05 FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 122,735.13 124,946.47 17.36 124,891.25 09/09/1609/08/16AaaAA+ 125,000.00 3130A9EP2 1.03 FANNIE MAE GLOBAL NOTES DTD 10/25/2016 1.000% 10/24/2019 176,447.88 179,746.35 785.00 179,517.60 10/25/1610/21/16AaaAA+ 180,000.00 3135G0R39 1.09 FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 138,008.64 139,982.37 727.22 139,967.80 11/17/1611/16/16AaaAA+ 140,000.00 3130AA3R7 1.38 FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 49,245.30 49,979.48 68.75 49,968.00 02/28/1702/24/17AaaAA+ 50,000.00 3135G0T29 1.52 FHLMC AGENCY NOTES DTD 04/20/2017 1.375% 04/20/2020 73,569.68 74,823.27 461.20 74,743.50 04/20/1704/19/17AaaAA+ 75,000.00 3137EAEF2 1.49 FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 29,264.46 29,921.09 3.44 29,903.70 09/08/1709/07/17AaaAA+ 30,000.00 3130ACE26 1.48 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 119,760.50 124,494.91 300.78 124,239.88 07/15/1607/14/16AaaAA+ 125,000.00 3130A8QS5 1.25 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 23,980.93 24,941.55 38.19 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 76,738.96 79,778.54 122.22 79,676.00 08/19/1608/17/16AaaAA+ 80,000.00 3135G0N82 1.33 2,709.02 972,211.76 993,482.36 1.24 992,568.41 995,000.00 Security Type Sub-Total Page 8 For the Month Ending March 31, 2018Managed 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 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 29,953.86 30,000.00 138.87 30,000.00 06/24/1306/17/13Aa2AA- 30,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 49,874.25 50,100.22 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 49,874.25 50,126.16 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 49,595.75 49,988.40 433.33 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 24,770.00 24,994.76 162.29 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 99,461.30 99,946.25 287.50 99,815.00 09/09/1409/04/14A2A+ 100,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 25,700.05 26,191.65 587.50 27,597.50 06/08/1606/03/16A3A+ 25,000.00 12189TBC7 1.48 CITIGROUP INC (CALLABLE) CORP NOTE DTD 01/10/2017 2.450% 01/10/2020 49,535.35 49,987.99 275.63 49,980.00 01/10/1701/04/17Baa1BBB+ 50,000.00 172967LF6 2.46 MICROSOFT CORP NOTES DTD 02/06/2017 1.850% 02/06/2020 49,501.40 49,979.16 141.32 49,966.50 02/06/1701/30/17AaaAAA 50,000.00 594918BV5 1.87 AMERICAN EXPRESS CREDIT (CALLABLE) NOTE DTD 03/03/2017 2.200% 03/03/2020 29,580.09 29,979.77 51.33 29,968.80 03/03/1702/28/17A2A- 30,000.00 0258M0EE5 2.24 WALT DISNEY COMPANY CORP NOTES DTD 03/06/2017 1.950% 03/04/2020 24,647.28 24,995.77 36.56 24,993.50 03/06/1703/01/17A2A+ 25,000.00 25468PDP8 1.96 TOYOTA MOTOR CREDIT CORP (CALLABLE) DTD 04/17/2017 1.950% 04/17/2020 73,765.13 74,976.27 666.25 74,965.50 04/17/1704/11/17Aa3AA- 75,000.00 89236TDU6 1.97 HOME DEPOT INC CORP NOTES DTD 06/05/2017 1.800% 06/05/2020 24,558.38 24,989.40 145.00 24,985.50 06/05/1705/24/17A2A 25,000.00 437076BQ4 1.82 Page 9 For the Month Ending March 31, 2018Managed 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 WALT DISNEY COMPANY CORP NOTES DTD 06/06/2017 1.800% 06/05/2020 24,494.55 24,978.77 145.00 24,971.00 06/06/1706/01/17A2A+ 25,000.00 25468PDU7 1.84 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 99,441.60 100,235.05 748.61 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 39,051.32 39,972.60 55.50 39,966.40 09/07/1709/05/17A3A 40,000.00 14913Q2A6 1.88 PACCAR FINANCIAL CORP NOTES DTD 11/13/2017 2.050% 11/13/2020 24,499.75 24,998.03 196.46 24,997.75 11/13/1711/06/17A1A+ 25,000.00 69371RN85 2.05 APPLE INC DTD 11/13/2017 2.000% 11/13/2020 49,129.45 49,963.23 383.33 49,958.00 11/13/1711/06/17Aa1AA+ 50,000.00 037833DJ6 2.03 WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 49,140.00 50,662.41 403.75 51,108.00 05/10/1605/06/16A2A- 50,000.00 94974BGR5 2.04 WAL-MART STORES INC CORP NOTE DTD 10/20/2017 1.900% 12/15/2020 73,538.18 74,907.05 637.29 74,891.25 10/20/1710/11/17Aa2AA 75,000.00 931142EA7 1.95 BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 24,367.90 24,989.66 89.58 24,988.50 10/26/1710/23/17A2A- 25,000.00 05531FAZ6 2.17 NATIONAL RURAL UTIL COOP DTD 02/26/2018 2.900% 03/15/2021 24,931.08 24,973.15 70.49 24,972.25 02/26/1802/21/18A2A 25,000.00 63743HER9 2.94 PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 39,006.44 39,993.09 380.00 39,992.00 10/10/1710/05/17A1A+ 40,000.00 713448DX3 2.01 BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 49,025.80 50,717.66 576.39 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00 BANK OF AMERICA CORP NOTE DTD 04/19/2016 2.625% 04/19/2021 14,775.68 15,103.13 177.19 15,116.40 11/03/1711/01/17A3A- 15,000.00 06051GFW4 2.39 MORGAN STANLEY CORP NOTES DTD 04/21/2016 2.500% 04/21/2021 48,991.70 50,143.65 555.56 50,162.00 11/03/1711/01/17A3BBB+ 50,000.00 61746BEA0 2.40 Page 10 For the Month Ending March 31, 2018Managed 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 (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 24,202.50 24,989.54 200.73 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 24,257.35 24,939.54 178.75 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03 BANK OF AMERICA CORP (CALLABLE) DTD 09/18/2017 2.328% 10/01/2021 34,225.91 35,000.00 436.82 35,000.00 09/18/1709/13/17A3A- 35,000.00 06051GGS2 2.33 JOHN DEERE CAPITAL CORP NOTES DTD 01/06/2017 2.650% 01/06/2022 49,250.60 49,825.85 312.85 49,779.50 03/15/1703/10/17A2A 50,000.00 24422ETL3 2.75 8,650.96 1,273,146.90 1,292,648.21 2.14 1,295,609.85 1,290,000.00 Security Type Sub-Total Certificate of Deposit SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 99,508.40 100,000.00 425.25 100,000.00 01/12/1701/10/17P-1A-1+ 100,000.00 86958JHB8 1.91 BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 99,906.20 100,000.00 282.00 100,000.00 02/09/1702/08/17P-1A-1 100,000.00 06427KRC3 1.90 BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 99,440.40 100,000.00 944.39 100,000.00 04/06/1704/05/17A1A+ 100,000.00 06417GUE6 1.91 SKANDINAV ENSKILDA BANKEN NY CD DTD 08/04/2017 1.840% 08/02/2019 96,970.94 99,973.86 296.44 99,961.00 08/04/1708/03/17Aa3A+ 100,000.00 83050FXT3 1.85 NORDEA BANK AB NY CD DTD 02/22/2018 2.720% 02/20/2020 99,697.10 100,000.00 294.67 100,000.00 02/22/1802/20/18Aa3AA- 100,000.00 65590ASN7 2.72 WESTPAC BANKING CORP NY CD DTD 08/07/2017 2.050% 08/03/2020 98,793.20 100,000.00 307.50 100,000.00 08/07/1708/03/17Aa3AA- 100,000.00 96121T4A3 2.05 SWEDBANK (NEW YORK) CERT DEPOS DTD 11/17/2017 2.270% 11/16/2020 98,383.00 100,000.00 851.25 100,000.00 11/17/1711/16/17Aa3AA- 100,000.00 87019U6D6 2.30 3,401.50 692,699.24 699,973.86 2.09 699,961.00 700,000.00 Security Type Sub-Total Page 11 For the Month Ending March 31, 2018Managed 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 5,335,410.77 5,344,987.22 1.78 23,883.81 5,339,092.90 5,237,444.76 Managed Account Sub-Total Money Market Mutual Fund CAMP Pool 42,206.83 42,206.83 0.00 42,206.83 NRAAAm 42,206.83 42,206.83 42,206.83 0.00 42,206.83 42,206.83 Money Market Sub-Total $5,377,617.60 $5,387,194.05 $23,883.81 $5,381,299.73 $5,279,651.59 1.78% $5,303,535.40 $23,883.81 Total Investments Accrued Interest Securities Sub-Total Page 12 For the Month Ending March 31, 2018Managed 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 2.34 (216.55)(339.25) 14,920.32 99.47 MORGANST 15,000.00 912828VV9US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 2.35 2.34 2.49 (898.08)(1,188.10) 34,459.95 98.46 MERRILL 35,000.00 912828WC0US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 2.37 2.49 2.56 (646.32)(953.12) 24,760.75 99.04 MERRILL 25,000.00 912828A42US TREASURY NOTES DTD 12/02/2013 2.000% 11/30/2020 2.37 2.56 2.65 (412.34)(517.97) 14,750.97 98.34 MORGANST 15,000.00 912828N48US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 2.38 2.65 2.92 (2,267.34)(2,522.26) 53,178.13 96.69 CITIGRP 55,000.00 912828Q37US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 2.40 2.92 2.97 (2,126.01)(1,406.64) 126,013.68 96.93 MORGAN_S 130,000.00 912828Q78US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 2.41 2.97 3.06 (1,236.94)(613.24) 96,789.10 96.79 MORGAN_S 100,000.00 912828R77US TREASURY NOTES DTD 05/31/2016 1.375% 05/31/2021 2.43 3.06 3.03 (7,443.71)(9,789.10) 197,398.40 98.70 HSBC 200,000.00 912828WN6US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 2.43 3.03 3.27 (5,175.52)(6,572.25) 123,120.13 98.50 HSBC 125,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (2,151.81)(2,250.96) 123,120.13 98.50 HSBC 125,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (3,010.87)(3,164.05) 147,744.15 98.50 MORGAN_S 150,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (4,746.09)(5,124.00) 221,616.23 98.50 MORGAN_S 225,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.27 (5,404.82)(5,835.92) 221,616.23 98.50 MORGAN_S 225,000.00 912828D72US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 2.46 3.27 3.45 (2,739.98)(2,396.93) 124,591.74 95.84 MERRILL 130,000.00 912828T67US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 2.47 3.45 3.45 (6,995.21)(6,455.19) 239,599.50 95.84 MERRILL 250,000.00 912828T67US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 2.47 3.45 3.87 (1,130.04)(1,075.22) 73,145.48 97.53 MERRILL 75,000.00 912828X47US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 2.52 3.87 3.87 (1,462.31)(1,383.64) 112,156.40 97.53 CITIGRP 115,000.00 912828X47US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 2.52 3.87 Page 13 For the Month Ending March 31, 2018Managed 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 (51,587.84) 2.45 3.26 (48,063.94) 1,948,981.29 1,995,000.00 Security Type Sub-Total 3.26 Supra-National Agency Bond / Note 2.38 (3,411.76)(3,348.75) 146,291.25 97.53 HSBC 150,000.00 45905UP32INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 2.61 2.38 2.50 (1,626.77)(1,765.91) 99,161.00 99.16 HSBC 100,000.00 4581X0CD8INTER-AMERICAN DEVELOPMENT BANK DTD 11/08/2013 2.125% 11/09/2020 2.46 2.50 2.81 (143.95)(143.45) 49,819.05 99.64 HSBC 50,000.00 45950VLQ7INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 2.76 2.81 (5,258.11) 2.59 2.49 (5,182.48) 295,271.30 300,000.00 Security Type Sub-Total 2.49 Municipal Bond / Note 0.94 (158.84)(222.30) 29,862.00 99.54 VINING 30,000.00 20772JZK1CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 2.46 0.94 (222.30) 2.46 0.94 (158.84) 29,862.00 30,000.00 Security Type Sub-Total 0.94 Federal Agency Collateralized Mortgage Obligation 0.07 (0.26)(1.70) 143.83 99.82 GOLDMAN 144.09 3136ANJY4FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 2.74 0.07 0.62 (40.76)(110.95) 7,963.17 99.61 GOLDMAN 7,994.18 3136AQSW1FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 2.32 0.43 1.25 (155.33)(280.20) 17,165.27 99.38 MORGANST 17,272.50 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 2.06 0.69 (392.85) 2.14 1.04 (196.35) 25,272.27 25,410.77 Security Type Sub-Total 0.60 Federal Agency Bond / Note 1.35 (426.70)(406.92) 39,534.28 98.84 NOMURA 40,000.00 3137EAEH8FREDDIE MAC NOTES DTD 07/19/2017 1.375% 08/15/2019 2.24 1.35 1.39 (1,981.35)(1,879.00) 122,926.00 98.34 GOLDMAN 125,000.00 3135G0P49FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 2.20 1.39 Page 14 For the Month Ending March 31, 2018Managed 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 1.46 (2,211.34)(2,156.12) 122,735.13 98.19 BARCLAYS 125,000.00 3130A9EP2FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 2.25 1.46 1.53 (3,298.47)(3,069.72) 176,447.88 98.03 BARCLAYS 180,000.00 3135G0R39FANNIE MAE GLOBAL NOTES DTD 10/25/2016 1.000% 10/24/2019 2.29 1.53 1.58 (1,973.73)(1,959.16) 138,008.64 98.58 MERRILL 140,000.00 3130AA3R7FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 2.27 1.58 1.87 (734.18)(722.70) 49,245.30 98.49 JPM_CHAS 50,000.00 3135G0T29FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 2.31 1.87 2.00 (1,253.59)(1,173.82) 73,569.68 98.09 WELLS_FA 75,000.00 3137EAEF2FHLMC AGENCY NOTES DTD 04/20/2017 1.375% 04/20/2020 2.33 2.00 2.43 (656.63)(639.24) 29,264.46 97.55 BARCLAYS 30,000.00 3130ACE26FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 2.39 2.43 3.19 (4,734.41)(4,479.38) 119,760.50 95.81 TD SEC U 125,000.00 3130A8QS5FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 2.46 3.19 3.27 (960.62)(933.55) 23,980.93 95.92 TD SEC U 25,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.52 3.27 3.27 (3,039.58)(2,937.04) 76,738.96 95.92 CITIGRP 80,000.00 3135G0N82FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 2.52 3.27 (20,356.65) 2.32 1.97 (21,270.60) 972,211.76 995,000.00 Security Type Sub-Total 1.97 Corporate Note 0.23 (46.14)(46.14) 29,953.86 99.85 05/24/18BARCLAYS 30,000.00 166764AE0CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 2.35 0.22 0.90 (225.97)(600.75) 49,874.25 99.75 BONY 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 2.40 0.90 0.90 (251.91)(595.25) 49,874.25 99.75 BNP PARI 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 2.40 0.90 1.04 (392.65)(372.25) 49,595.75 99.19 03/25/19MIZUHO 50,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 2.77 1.03 1.15 (224.76)(217.00) 24,770.00 99.08 CITIGRP 25,000.00 172967KS9CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 2.84 1.15 Page 15 For the Month Ending March 31, 2018Managed 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 1.34 (484.95)(353.70) 99,461.30 99.46 MERRILL 100,000.00 02665WAH4AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 2.65 1.34 1.41 (491.60)(1,897.45) 25,700.05 102.80 GOLDMAN 25,000.00 12189TBC7BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 2.78 1.41 1.71 (452.64)(444.65) 49,535.35 99.07 12/10/19CITIGRP 50,000.00 172967LF6CITIGROUP INC (CALLABLE) CORP NOTE DTD 01/10/2017 2.450% 01/10/2020 2.99 1.71 1.80 (477.76)(465.10) 49,501.40 99.00 HSBC 50,000.00 594918BV5MICROSOFT CORP NOTES DTD 02/06/2017 1.850% 02/06/2020 2.40 1.80 1.86 (399.68)(388.71) 29,580.09 98.60 02/01/20MERRILL 30,000.00 0258M0EE5AMERICAN EXPRESS CREDIT (CALLABLE) NOTE DTD 03/03/2017 2.200% 03/03/2020 2.95 1.86 1.87 (348.49)(346.22) 24,647.28 98.59 CITIGRP 25,000.00 25468PDP8WALT DISNEY COMPANY CORP NOTES DTD 03/06/2017 1.950% 03/04/2020 2.71 1.87 1.97 (1,211.14)(1,200.37) 73,765.13 98.35 MERRILL 75,000.00 89236TDU6TOYOTA MOTOR CREDIT CORP (CALLABLE) DTD 04/17/2017 1.950% 04/17/2020 2.78 1.97 2.11 (431.02)(427.12) 24,558.38 98.23 JPM_CHAS 25,000.00 437076BQ4HOME DEPOT INC CORP NOTES DTD 06/05/2017 1.800% 06/05/2020 2.64 2.11 2.10 (484.22)(476.45) 24,494.55 97.98 DEUTSCHE 25,000.00 25468PDU7WALT DISNEY COMPANY CORP NOTES DTD 06/06/2017 1.800% 06/05/2020 2.76 2.10 2.13 (793.45)(1,055.40) 99,441.60 99.44 05/23/20JPMCHASE 100,000.00 46625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 3.01 2.11 2.35 (921.28)(915.08) 39,051.32 97.63 BARCLAYS 40,000.00 14913Q2A6CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 2.87 2.35 2.50 (498.28)(498.00) 24,499.75 98.00 CITIGRP 25,000.00 69371RN85PACCAR FINANCIAL CORP NOTES DTD 11/13/2017 2.050% 11/13/2020 2.85 2.50 2.51 (833.78)(828.55) 49,129.45 98.26 JPM_CHAS 50,000.00 037833DJ6APPLE INC DTD 11/13/2017 2.000% 11/13/2020 2.69 2.51 2.55 (1,522.41)(1,968.00) 49,140.00 98.28 UBS AG 50,000.00 94974BGR5WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 3.22 2.55 2.59 (1,368.87)(1,353.07) 73,538.18 98.05 MORGAN_S 75,000.00 931142EA7WAL-MART STORES INC CORP NOTE DTD 10/20/2017 1.900% 12/15/2020 2.65 2.59 Page 16 For the Month Ending March 31, 2018Managed 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 2.71 (621.76)(620.60) 24,367.90 97.47 01/01/21MORGAN_S 25,000.00 05531FAZ6BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 3.09 2.72 2.80 (42.07)(41.17) 24,931.08 99.72 RBC 25,000.00 63743HER9NATIONAL RURAL UTIL COOP DTD 02/26/2018 2.900% 03/15/2021 3.00 2.80 2.89 (986.65)(985.56) 39,006.44 97.52 03/15/21MERRILL 40,000.00 713448DX3PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 2.86 2.89 2.86 (1,691.86)(2,123.20) 49,025.80 98.05 03/15/21KEYBAN 50,000.00 06406FAA1BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 3.18 2.86 2.87 (327.45)(340.72) 14,775.68 98.50 MERRILL 15,000.00 06051GFW4BANK OF AMERICA CORP NOTE DTD 04/19/2016 2.625% 04/19/2021 3.14 2.87 2.88 (1,151.95)(1,170.30) 48,991.70 97.98 MORGAN_S 50,000.00 61746BEA0MORGAN STANLEY CORP NOTES DTD 04/21/2016 2.500% 04/21/2021 3.20 2.88 2.95 (787.04)(781.00) 24,202.50 96.81 04/09/21SCOTIA 25,000.00 05531FAV5BRANCH BANKING & TRUST (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 3.13 2.96 2.99 (682.19)(648.15) 24,257.35 97.03 GOLDMAN 25,000.00 857477AV5STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 2.95 2.99 3.79 (774.09)(774.09) 34,225.91 97.79 10/01/20MERRILL 35,000.00 06051GGS2BANK OF AMERICA CORP (CALLABLE) DTD 09/18/2017 2.328% 10/01/2021 2.61 2.66 3.53 (575.25)(528.90) 49,250.60 98.50 MITSU 50,000.00 24422ETL3JOHN DEERE CAPITAL CORP NOTES DTD 01/06/2017 2.650% 01/06/2022 3.07 3.53 (22,462.95) 2.82 2.12 (19,501.31) 1,273,146.90 1,290,000.00 Security Type Sub-Total 2.08 Certificate of Deposit 0.77 (491.60)(491.60) 99,508.40 99.51 MERRILL 100,000.00 86958JHB8SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 2.48 0.77 0.85 (93.80)(93.80) 99,906.20 99.91 GOLDMAN 100,000.00 06427KRC3BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 1.94 0.85 1.01 (559.60)(559.60) 99,440.40 99.44 MERRILL 100,000.00 06417GUE6BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 1.50 1.01 Page 17 For the Month Ending March 31, 2018Managed 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 Certificate of Deposit 1.30 (3,002.92)(2,990.06) 96,970.94 96.97 BARCLAYS 100,000.00 83050FXT3SKANDINAV ENSKILDA BANKEN NY CD DTD 08/04/2017 1.840% 08/02/2019 2.75 1.30 1.82 (302.90)(302.90) 99,697.10 99.70 GOLDMAN 100,000.00 65590ASN7NORDEA BANK AB NY CD DTD 02/22/2018 2.720% 02/20/2020 2.89 1.82 2.32 (1,206.80)(1,206.80) 98,793.20 98.79 JPM_CHAS 100,000.00 96121T4A3WESTPAC BANKING CORP NY CD DTD 08/07/2017 2.050% 08/03/2020 2.50 2.32 2.51 (1,617.00)(1,617.00) 98,383.00 98.38 MERRILL 100,000.00 87019U6D6SWEDBANK (NEW YORK) CERT DEPOS DTD 11/17/2017 2.270% 11/16/2020 2.95 2.51 (7,261.76) 2.43 1.51 (7,274.62) 692,699.24 700,000.00 Security Type Sub-Total 1.51 5,335,410.77 5,237,444.76 (107,542.46) (101,648.14) 2.44 2.52 Managed Account Sub-Total 2.43 Money Market Mutual Fund 0.00 0.00 0.00 42,206.83 1.00 42,206.83 CAMP Pool 0.00 42,206.83 42,206.83 0.00 0.00 0.00 Money Market Sub-Total 0.00 Total Investments $5,303,535.40 $23,883.81 $5,279,651.59 Accrued Interest Securities Sub-Total $5,377,617.60 ($107,542.46) ($101,648.14) 2.44 2.52% 2.43 Page 18 For the Month Ending March 31, 2018Managed 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 03/16/18 INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 45950VLQ7 (49,962.50) 0.00 (49,962.50) 50,000.00 03/09/18 0.00 (49,962.50)(49,962.50) 50,000.00 Transaction Type Sub-Total INTEREST 03/01/18 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 17275RAR3 0.00 531.25 531.25 50,000.00 03/01/18 03/01/18 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 17275RAR3 0.00 531.25 531.25 50,000.00 03/01/18 03/25/18 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 0.00 33.18 33.18 20,079.93 03/01/18 03/25/18 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 0.00 14.21 14.21 8,983.85 03/01/18 03/25/18 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 0.00 0.63 0.63 484.07 03/01/18 03/03/18 AMERICAN EXPRESS CREDIT (CALLABLE) NOTE DTD 03/03/2017 2.200% 03/03/2020 0258M0EE5 0.00 330.00 330.00 30,000.00 03/03/18 03/04/18 CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 14913Q2A6 0.00 363.83 363.83 40,000.00 03/04/18 03/04/18 WALT DISNEY COMPANY CORP NOTES DTD 03/06/2017 1.950% 03/04/2020 25468PDP8 0.00 243.75 243.75 25,000.00 03/04/18 03/12/18 INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 45905UP32 0.00 1,125.00 1,125.00 150,000.00 03/12/18 03/15/18 CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 20772JZK1 0.00 296.10 296.10 30,000.00 03/15/18 03/26/18 FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 3130A9EP2 0.00 625.00 625.00 125,000.00 03/26/18 03/28/18 FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 3130ACE26 0.00 206.25 206.25 30,000.00 03/28/18 03/31/18 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 912828Q37 0.00 343.75 343.75 55,000.00 03/31/18 Page 19 For the Month Ending March 31, 2018Managed 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 4,644.20 4,644.20 0.00 614,547.85 Transaction Type Sub-Total PAYDOWNS 03/25/18 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 339.98 0.00 339.98 (3.40) 0.00 339.98 03/01/18 03/25/18 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 989.67 0.00 989.67 (9.90) 0.00 989.67 03/01/18 03/25/18 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 2,807.43 0.00 2,807.43 (28.11) 0.00 2,807.43 03/01/18 0.00 0.00 (41.41) 4,137.08 4,137.08 4,137.08 Transaction Type Sub-Total SELL 03/16/18 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 912828B90 49,367.19 43.48 49,410.67 (3,078.12)(2,200.84)FIFO 50,000.00 03/09/18 43.48 (2,200.84)(3,078.12) 49,410.67 49,367.19 50,000.00 Transaction Type Sub-Total 3,541.77 4,687.68 8,229.45 (3,119.53) (2,200.84)Managed Account Sub-Total Total Security Transactions ($3,119.53)$8,229.45 $4,687.68 $3,541.77 ($2,200.84) Page 20 For the Month Ending March 31, 2018Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 34,674.98 Opening Balance 03/01/18 03/01/18 Purchase - Interest 17275RAR3 1.00 531.25 35,206.23 03/01/18 03/01/18 Purchase - Interest 17275RAR3 1.00 531.25 35,737.48 03/05/18 03/05/18 Purchase - Interest 0258M0EE5 1.00 330.00 36,067.48 03/05/18 03/05/18 Purchase - Interest 14913Q2A6 1.00 363.83 36,431.31 03/05/18 03/05/18 Purchase - Interest 25468PDP8 1.00 243.75 36,675.06 03/12/18 03/12/18 Purchase - Interest 45905UP32 1.00 1,125.22 37,800.28 03/13/18 03/13/18 Purchase - Interest 45905UP32 1.00 1,125.00 38,925.28 03/13/18 03/13/18 Redemption - Interest 45905UP32 1.00 (1,125.22) 37,800.06 03/15/18 03/15/18 Purchase - Interest 20772JZK1 1.00 296.10 38,096.16 03/16/18 03/16/18 Purchase - Principal 912828B90 1.00 49,367.19 87,463.35 03/16/18 03/16/18 Purchase - Interest 912828B90 1.00 43.48 87,506.83 03/16/18 03/16/18 Redemption - Principal 45950VLQ7 1.00 (49,962.50) 37,544.33 03/26/18 03/26/18 Purchase - Interest 3130A9EP2 1.00 625.00 38,169.33 03/26/18 03/26/18 Purchase - Interest 3136ANJY4 1.00 0.63 38,169.96 03/26/18 03/26/18 Purchase - Interest 3136AQDQ0 1.00 33.18 38,203.14 03/26/18 03/26/18 Purchase - Interest 3136AQSW1 1.00 14.21 38,217.35 03/26/18 03/26/18 Purchase - Principal 3136ANJY4 1.00 339.98 38,557.33 03/26/18 03/26/18 Purchase - Principal 3136AQDQ0 1.00 2,807.43 41,364.76 03/26/18 03/26/18 Purchase - Principal 3136AQSW1 1.00 989.67 42,354.43 03/27/18 03/27/18 IP Fees February 2018 1.00 (380.48) 41,973.95 03/27/18 03/27/18 U.S. Bank Fees January 2018 1.00 (25.92) 41,948.03 Page 21 For the Month Ending March 31, 2018Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 03/28/18 03/28/18 Purchase - Interest 3130ACE26 1.00 206.25 42,154.28 03/29/18 04/02/18 Accrual Income Div Reinvestment - Distributions 1.00 52.55 42,206.83 42,206.83 42,206.83 42,206.83 38,054.59 83.46 0.00 (291,301.92) 314,554.04 18,954.71 52.55 42,206.83 0.00 (51,494.12) 59,025.97 34,674.98 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 March January-March 1.62% Page 22 Review of Investment Performance CAMP Accounts Investment Performance Review Client Management Team Sarah Meacham, Managing Director Richard Babbe, Senior Managing Consultant 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 December 31, 2017 CITY OF LAKE ELSINORE Market Update PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended December 31, 2017 1.00% 1.10% 1.20% 1.30% 1.40% 1.50% 1.60% 1.70% 1.80% 1.90% 2.00% Dec '16 Feb '17 Apr '17 Jun '17 Aug '17 Oct '17 Dec '17 Fed Rate Hike Fed Rate Hike Fed Rate Hike Market Update Two-year treasury yields moved notably higher for the year ended December 31, 2017; the increase was most pronounced during the fourth quarter as markets responded to another rate hike by the Federal Reserve and the passage of the largest overhaul of the U.S. tax system in more than 30 years. Interest Rate Update 2-Year Treasury Yields December 31, 2016 –December 31, 2017 Source: Bloomberg, as of 12/31/17. +40 basis points QoQ 1 PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended December 31, 2017 Market Update U.S. Treasury Yield Curve Maturity 12/31/16 12/31/17 Change 3-Mo.0.50%1.38%+ 0.88% 6-Mo.0.61%1.53%+ 0.92% 1-Yr.0.81%1.74%+ 0.93% 2-Yr.1.19%1.89%+ 0.70% 3-Yr.1.45%1.97%+ 0.52% 5-Yr.1.93%2.21%+ 0.28% 10-Yr.2.44%2.41%-0.03% 20-Yr.2.76%2.58%-0.18% 30-Yr.3.07%2.74%-0.33% Yield Curve History Source: Bloomberg, as of 12/31/17. 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3M 6M 1 Yr 2 Yr 3 Yr 5 Yr U.S. Treasury Yield Curve December 31, 2017 September 30, 2017 December 31, 2016 2 PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended December 31, 2017 3.1%3.2% -2% 0% 2% 4% 6%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42013 2014 2015 2016 2017 2018 U.S. Real GDP QoQ, SAAR Market Update Gross domestic product (GDP) increased at an annualized rate of 3.2% in the third quarter of 2017, the fastest pace of expansion over two consecutive quarters since 2014. Growth has averaged 2.3% over the last four quarters. The acceleration in third quarter GDP reflected positive contributions from personal consumption and business investment boosted primarily by a rise in private inventories and exports. This acceleration was offset by negative contributions from residential housing. Economic Growth Remained Strong in Third Quarter 2.7%2.7% 2.0%1.9% Source: Bloomberg, as of December 2017. SAAR is seasonally adjusted annualized rate. Orange dashes denote four-quarter averages. Bloomberg Survey of Economists 3 PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended December 31, 2017 Market Update Labor Market Activity During the Quarter The U.S. labor market added 611,000 jobs for the quarter ending December 31, 2017, and an average of 171,000 jobs per month over the past year. Headline unemployment rate for the fourth quarter remained at 4.1% for the third consecutive month. The U6 unemployment rate decreased from 8.3% in September to 8.1% in December, while the labor force participation rate fell from 63.0% in September to 62.7% in December. Average hourly earnings—an important gauge of wage growth—grew 2.5% over the past 12 months. Source: Bloomberg, as of December 2017. 0k 100k 200k 300k 400k Dec '12 Dec '13 Dec '14 Dec '15 Dec '16 Dec '17 Monthly Change in Nonfarm Payrolls Nonfarm Payrolls 12-Month Moving Average 7.9% 6.7% 5.6% 5.0%4.7% 4.1% 3% 4% 5% 6% 7% 8% 9% Dec '12 Dec '13 Dec '14 Dec '15 Dec '16 Dec '17 Unemployment Rate 4 PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended December 31, 2017 0.5% 1.0% 1.5% 2.0% 2.5% Nov '12 Nov '13 Nov '14 Nov '15 Nov '16 Nov '17 Expectations for Average Inflation Rate over Next 5 Years 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% Nov '12 Nov '13 Nov '14 Nov '15 Nov '16 Nov '17 Inflation Measures (YoY) Core CPI Core PCE Fed's Long Term Inflation Target Market Update Inflation pressures have declined since the beginning of 2017. The core personal consumption expenditures (PCE) price index, the Fed’s preferred measure of inflation, moved slightly higher to 1.5% year-over-year in November. The Fed expects inflation to remain subdued in the near term but to reach their 2% target in the medium term. Inflation Remains Muted Source: Bloomberg, as of November 2017. Inflation expectations based on yield difference between 5-year Treasury note and 5-year Treasury Inflation Protected Securities (TIPS). 5 PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended December 31, 2017 0% 2% 4% 6% 0% 2% 4% 6% 8% 10% 12%Nov '88Nov '89Nov '90Nov '91Nov '92Nov '93Nov '94Nov '95Nov '96Nov '97Nov '98Nov '99Nov '00Nov '01Nov '02Nov '03Nov '04Nov '05Nov '06Nov '07Nov '08Nov '09Nov '10Nov '11Nov '12Nov '13Nov '14Nov '15Nov '16Nov '17InflationUnemploymentUnemployment Rate (U-3)Core CPI (YoY)Core PCE (YoY) Market Update Inflation Remains Lackluster Despite a Strong Labor Market Source: Bloomberg, as of November 2017. 6 PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended December 31, 2017 Market Update FOMC “Dot Plot” –December 2017 0% 1% 2% 3% 4% 5% Fed Participants’ Assessments of “Appropriate” Monetary Policy Dec-17 FOMC Projections Dec-17 Median Fed Funds Futures Fed expects 3 more rate hikes in 2018 2017 2018 2019 2020 Longer Term History of Recent Fed Rate Hikes Dec ’17 1.25 -1.50% Jun ’17 1.00 -1.25% Mar ’17 0.75 -1.00% Dec ’16 0.50 -0.75% Dec ’15 0.25 -0.50% Source: Federal Reserve and Bloomberg. Individual dots represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. Fed funds futures as of 12/13/17. 7 PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended December 31, 2017 Market Update GOP Tax Cuts and Jobs Act Personal TaxesBusiness TaxesIncome Tax Brackets Deductions Exemptions Other Tax Rate Single Married 10%$9,525 $19,050 12%$38,700 $77,400 22%$82,500 $165,000 24%$157,500 $315,000 32%$200,000 $400,000 35%$500,000 $600,000 37%> $500,000 > $600,000 •Can deduct up to $10,000 in a blend of state and local property, income, and sales tax. The state and local deduction was previously unlimited. •Deductible interest on mortgage capped at $750,000. •Child tax credit raised from $1,000 to $2,000 per child. •The estate tax exemption will be doubled from $5.5 million to $11 million. •The deduction for interest on education loans, qualified tuition expenses, and expensive medical bills would be maintained. •No changes will be made to 401(k) plans. Marginal Tax Rate Deductions Exemptions Other •Reduced from 35% to 21%. •Marks the largest one-time decline in U.S. history and amounts to almost $1 trillion of tax cuts over the next decade. •Pass-through businesses like limited liability corporations allowed to deduct 20% of their earnings. However, this will expire after 2025. •Businesses will be exempt from paying the corporate alternative minimum tax. •One-time tax on repatriated cash and profits will be 15.5%, up slightly from the 14% to 14.5% that had been proposed in earlier versions. Source: The Washington Post, Business Insider. 8 Portfolio Review PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended December 31, 2017 Portfolio Review Yields continued to climb during the fourth quarter, with some short-and intermediate-term yields reaching highs not seen since 2008. However, in this era of gradually increasing interest rates, new purchases were weighed against the probability for further rate increases and their potential to diminish the market value of portfolio investments. In this flat yield curve environment, we emphasized maturity selection. We have kept durations slightly short of the benchmark's duration in order to hedge against the negative impacts of rising interest rates. Strong investor appetite for high-quality alternatives to U.S. Treasuries caused the yield spreads on investment-grade fixed income sectors (relative to U.S. Treasuries) to tighten over the quarter, resulting in positive relative performance for non-Treasury sectors. •The yield spreads on federal agency securities vs. comparable-maturity Treasuries remained near historic lows, in some cases near zero, leading to diminished value of the agency sector. •Corporate yield spreads also remained near multi-year lows, as investors reaching for yield piled into a limited market supply of investment-grade securities, leading the corporate sector to deliver its ninth straight quarter of outperformance relative to U.S. Treasuries. •Short-term negotiable bank certificates of deposit (CDs) continued to offer value during the quarter. Although the Fed’s December meeting caused CD spreads to narrow, issuance has picked up and CD yields have risen, widening the spread over similar-dated Treasuries. Portfolio Recap 9 PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended December 31, 2017 Portfolio Review The U.S. economy is generally on strong footing heading into the new year, bolstered by expanding economic activity, a strong jobs market, and gains in housing. However, the continued rise of the domestic stock market, coupled with low volatility, may point to investor complacency. The Federal Reserve recently reiterated its intentions to continue to gradually increase rates into 2018. However, persistently low inflation readings may derail these plans. In this uncertain environment, we plan to adopt a duration-neutral stance but will continue to carefully monitor the portfolio’s duration relative to the benchmark’s duration, making adjustments as appropriate. Federal Agency issuance is expected to resume in the new year, but the overall level is expected to be slower than 2017. Given the flatness of the yield curve and narrow bullet agency spreads, we may seek value in callable agency securities where we find them advantageous. We will continue to focus on exposure to the corporate sector as well as other spread products to add value to the portfolio. The mortgage-backed securities (MBS) sector may experience some turbulence once the pace of tapering increases in future months. For that reason, we are generally avoiding additional MBS allocations at this time. Broad diversification across all investment-grade sectors remains a key component of our portfolio strategy. We will continue to monitor the markets and will make relative-value trades as appropriate in order to safely enhance portfolio earnings. However, as always, while we continue to seek opportunities to enhance the earnings, our priority will always be to maintain the safety and liquidity of portfolio investments. Outlook and Strategy 10 PFM Asset Management LLCCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2017Portfolio ReviewThe portfolio is in compliance with the City’s Investment Policy and the California Government Code.Sector Allocation and ComplianceDetail may not add to total due to rounding.Security TypeMarket Value% of Portfolio% Changevs. 9/30/17Permitted by PolicyIn ComplianceU.S. Treasury$14,782,050 36.5% -0.1%100%Federal Agency$6,271,099 15.5% -3.2%100%Federal Agency CMOs$306,699 0.8%-0.4%100%Municipal Obligations$349,478 0.9%-0.0%100%Supranationals$1,807,400 4.5%+2.0%30%Negotiable CDs$6,818,089 16.8% +0.1%30%Corporate Notes$10,077,879 24.9% +2.1%30%Securities Sub-Total$40,412,694 99.8%Accrued Interest$194,604Securities Total$40,607,298CAMP Cash Reserve Portfolio$97,674 0.2%-0.5%100%Total Investments$40,704,972 100.0%11 PFM Asset Management LLCCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2017Portfolio PerformanceDuration (Years)Past Quarter Past Year Past 3 Years Past 5 Years Since InceptionCity Funds Portfolio 2.55 -0.31% 1.17% 1.24% 1.03% 1.35%Successor Agency Portfolio2.57 -0.32% 1.12% 1.18% 0.99% 1.33%Housing Funds Portfolio 2.58 -0.32% 1.15% 1.18% 0.97% 1.02%BAML 1-5 Year U.S. Treasury Index12.59-0.38% 0.65% 0.90% 0.75%1.01%21.18%30.78%41. Merrill Lynch Indices provided by Bloomberg Financial Markets.2. The City Funds portfolio’s inception date is September, 2010.3. The Successor Agency portfolio’s inception date is March, 2011.4. The Housing Fund portfolio’s inception date is June, 2012.5. Performance on trade-date basis, gross (i.e., before fees), in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS).6. Quarterly returns are presented on an unannualized basis. Performance numbers for periods greater than one year are presented on an annualized basis.Total Return5,612 City Funds Portfolio LAKE ELSINORE CITY FUNDS For the Quarter Ended December 31, 2017 Portfolio Snapshot Portfolio Statistics As of December 31, 2017 $30,332,546 $30,245,518 $30,037,609 $146,693 - Accrued Interest: Cash: Par Value: Total Market Value: Security Market Value: CAMP $61,216 $30,391,324 2.07% 1.77% AAAverage Credit: * Yield at Cost: Amortized Cost: Yield at Market: Effective Duration:2.55 Years Duration to Worst:2.56 Years Average Maturity:2.66 Years Credit Quality (S&P Ratings) 6.3% A 4.9% A- 10.5% A+ 1.9% A-1 3.8% A-1+ 1.4% AA 9.1% AA- 53.1% AA+ 5.4% AAA 0.2% AAAm 3.3% BBB+** 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 0 - 1 Year 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years > 5 Years 6.5% 20.9% 26.5% 43.7% 2.4% 0.0% Maturity Distribution Sector Allocation 17.4% Certificate of Deposit 24.9% Corporate 0.8% Federal Agency/CMO 15.3% Federal Agency/GSE 0.2% Mny Mkt Fund / Pool 1.0% Municipal 4.4% Supra-Sov / Supra-Natl Agency 36.0% U.S. Treasury PFM Asset Management LLC *An average of each security’s credit rating assigned a numeric value and adjusted for its relative weighting in the portfolio. **Securities rated BBB+ by S&P are rated A or the equivalent or better by Fitch and/or Moody's. 13 LAKE ELSINORE CITY FUNDS For the Quarter Ended December 31, 2017 Portfolio Performance Portfolio Earnings Quarter-Ended December 31, 2017 Market Value Basis Accrual (Amortized Cost) Basis Net Purchases/Sales Change in Value Interest Earned $30,216,664.80 $116,366.17 ($234,205.97) $139,727.34 ($94,478.63) $30,098,825.00 $30,303,276.14 $116,366.17 ($28,317.85) $139,727.34 $111,409.49 $30,391,324.46 Portfolio Earnings Beginning Value (09/30/2017) Ending Value (12/31/2017) PFM Asset Management LLC 14 LAKE ELSINORE CITY FUNDS For the Quarter Ended December 31, 2017 Portfolio Composition Issuer Distribution As of December 31, 2017 Market Value ($)% of PortfolioIssuer UNITED STATES TREASURY 10,867,430 36.1% FANNIE MAE 2,508,315 8.3% FEDERAL HOME LOAN BANKS 1,585,792 5.3% FREDDIE MAC 739,399 2.5% INTL BANK OF RECONSTRUCTION AND DEV 736,628 2.5% BANK OF MONTREAL 600,742 2.0% INTER-AMERICAN DEVELOPMENT BANK 600,507 2.0% SVENSKA HANDELSBANKEN AB 597,347 2.0% SWEDBANK AB 596,759 2.0% SKANDINAVISKA ENSKILDA BANKEN AB 592,296 2.0% JP MORGAN CHASE & CO 580,021 1.9% AMERICAN HONDA FINANCE 575,860 1.9% NORDEA BANK AB 575,357 1.9% ROYAL BANK OF CANADA 574,998 1.9% CANADIAN IMPERIAL BANK OF COMMERCE 573,786 1.9% BANK OF NOVA SCOTIA 572,919 1.9% CISCO SYSTEMS INC 570,640 1.9% WESTPAC BANKING CORP 539,104 1.8%Top 5 = 54.6%Top 10 = 64.5% PFM Asset Management LLC 15 For the Quarter Ended December 31, 2017 Portfolio Composition Market Value ($)% of Portfolio LAKE ELSINORE CITY FUNDS Issuer WELLS FARGO & COMPANY 449,013 1.5% TOYOTA MOTOR CORP 423,463 1.4% CITIGROUP INC 404,834 1.4% AMERICAN EXPRESS CO 377,877 1.3% THE BANK OF NEW YORK MELLON CORPORATION 300,676 1.0% BANK OF AMERICA CO 299,946 1.0% MORGAN STANLEY 299,498 1.0% MICROSOFT CORP 299,113 1.0% GOLDMAN SACHS GROUP INC 299,096 1.0% THE WALT DISNEY CORPORATION 298,145 1.0% APPLE INC 298,104 1.0% WAL-MART STORES INC 298,068 1.0% DEERE & COMPANY 276,601 0.9% GENERAL ELECTRIC CO 265,445 0.9% CATERPILLAR INC 222,373 0.7% BB&T CORPORATION 222,149 0.7% PEPSICO INC 197,725 0.7% STATE OF CONNECTICUT 164,525 0.6% BURLINGTON NORTHERN SANTA FE 156,353 0.5% PACCAR FINANCIAL CORP 148,858 0.5% HOME DEPOT INC 148,807 0.5% PFM Asset Management LLC 16 For the Quarter Ended December 31, 2017 Portfolio Composition Market Value ($)% of Portfolio LAKE ELSINORE CITY FUNDS Issuer UNIVERSITY OF CALIFORNIA 125,126 0.4% STATE STREET CORPORATION 73,917 0.3% CAMP POOL 61,216 0.2% 30,098,825 100.0%Grand Total: PFM Asset Management LLC 17 Successor Agency Portfolio LAKE ELSINORE-SUCCESSOR AGENCY For the Quarter Ended December 31, 2017 Portfolio Snapshot Portfolio Statistics As of December 31, 2017 $5,354,507 $5,331,449 $5,288,245 $24,249 - Accrued Interest: Cash: Par Value: Total Market Value: Security Market Value: CAMP $18,955 $5,362,730 2.07% 1.73% AAAverage Credit: * Yield at Cost: Amortized Cost: Yield at Market: Effective Duration:2.57 Years Duration to Worst:2.58 Years Average Maturity:2.68 Years Credit Quality (S&P Ratings) 5.0% A 4.3% A- 10.2% A+ 3.8% A-1+ 1.4% AA 9.5% AA- 56.5% AA+ 5.6% AAA 0.4% AAAm 3.3% BBB+** 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 0 - 1 Year 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years > 5 Years 4.9% 25.7%24.4% 42.8% 2.3% 0.0% Maturity Distribution Sector Allocation 15.0% Certificate of Deposit 23.8% Corporate 0.8% Federal Agency/CMO 18.4% Federal Agency/GSE 0.4% Mny Mkt Fund / Pool 0.6% Municipal 4.7% Supra-Sov / Supra-Natl Agency 36.3% U.S. Treasury PFM Asset Management LLC *An average of each security’s credit rating assigned a numeric value and adjusted for its relative weighting in the portfolio. **Securities rated BBB+ by S&P are rated A or the equivalent or better by Fitch and/or Moody's. 18 LAKE ELSINORE-SUCCESSOR AGENCY For the Quarter Ended December 31, 2017 Portfolio Performance Portfolio Earnings Quarter-Ended December 31, 2017 Market Value Basis Accrual (Amortized Cost) Basis Net Purchases/Sales Change in Value Interest Earned $5,327,072.26 $20,753.30 ($40,625.57) $23,719.01 ($16,906.56) $5,307,199.99 $5,346,323.56 $20,753.30 ($4,346.72) $23,719.01 $19,372.29 $5,362,730.14 Portfolio Earnings Beginning Value (09/30/2017) Ending Value (12/31/2017) PFM Asset Management LLC 19 LAKE ELSINORE-SUCCESSOR AGENCY For the Quarter Ended December 31, 2017 Portfolio Composition Issuer Distribution As of December 31, 2017 Market Value ($)% of PortfolioIssuer UNITED STATES TREASURY 1,932,421 36.4% FANNIE MAE 491,907 9.3% FEDERAL HOME LOAN BANKS 412,005 7.8% INTL BANK OF RECONSTRUCTION AND DEV 147,326 2.8% FREDDIE MAC 113,597 2.1% JP MORGAN CHASE & CO 100,873 1.9% AMERICAN HONDA FINANCE 100,150 1.9% BANK OF MONTREAL 100,124 1.9% CISCO SYSTEMS INC 100,112 1.9% INTER-AMERICAN DEVELOPMENT BANK 100,085 1.9% NORDEA BANK AB 100,062 1.9% ROYAL BANK OF CANADA 100,000 1.9% WESTPAC BANKING CORP 99,834 1.9% BANK OF NOVA SCOTIA 99,638 1.9% SVENSKA HANDELSBANKEN AB 99,558 1.9% SWEDBANK AB 99,460 1.9% SKANDINAVISKA ENSKILDA BANKEN AB 98,716 1.9% CITIGROUP INC 74,951 1.4%Top 5 = 58.3%Top 10 = 67.8% PFM Asset Management LLC 20 For the Quarter Ended December 31, 2017 Portfolio Composition Market Value ($)% of Portfolio LAKE ELSINORE-SUCCESSOR AGENCY Issuer TOYOTA MOTOR CORP 74,698 1.4% WAL-MART STORES INC 74,517 1.4% DEERE & COMPANY 50,291 1.0% WELLS FARGO & COMPANY 50,203 1.0% THE BANK OF NEW YORK MELLON CORPORATION 50,113 0.9% BANK OF AMERICA CO 49,978 0.9% MORGAN STANLEY 49,916 0.9% MICROSOFT CORP 49,852 0.9% GOLDMAN SACHS GROUP INC 49,849 0.9% THE WALT DISNEY CORPORATION 49,712 0.9% APPLE INC 49,684 0.9% BB&T CORPORATION 49,407 0.9% PEPSICO INC 39,545 0.8% CATERPILLAR INC 39,533 0.7% CHEVRON CORPORATION 30,000 0.6% STATE OF CONNECTICUT 29,914 0.6% AMERICAN EXPRESS CO 29,909 0.6% BURLINGTON NORTHERN SANTA FE 26,059 0.5% PACCAR FINANCIAL CORP 24,810 0.5% HOME DEPOT INC 24,801 0.5% STATE STREET CORPORATION 24,639 0.5% PFM Asset Management LLC 21 For the Quarter Ended December 31, 2017 Portfolio Composition Market Value ($)% of Portfolio LAKE ELSINORE-SUCCESSOR AGENCY Issuer CAMP POOL 18,955 0.4% 5,307,200 100.0%Grand Total: PFM Asset Management LLC 22 Housing Funds Portfolio LAKE ELSINORE HOUSING FUNDS For the Quarter Ended December 31, 2017 Portfolio Snapshot Portfolio Statistics As of December 31, 2017 $5,148,055 $5,128,005 $5,086,840 $23,662 - Accrued Interest: Cash: Par Value: Total Market Value: Security Market Value: CAMP $17,503 $5,157,223 2.07% 1.75% AAAverage Credit: * Yield at Cost: Amortized Cost: Yield at Market: Effective Duration:2.58 Years Duration to Worst:2.58 Years Average Maturity:2.69 Years Credit Quality (S&P Ratings) 7.6% A 4.5% A- 10.6% A+ 3.9% A-1+ 1.5% AA 8.7% AA- 54.0% AA+ 5.3% AAA 0.3% AAAm 3.4% BBB+** 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 - 1 Year 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years > 5 Years 5.8% 19.3% 28.0% 45.6% 1.3%0.0% Maturity Distribution Sector Allocation 15.6% Certificate of Deposit 26.0% Corporate 0.8% Federal Agency/CMO 13.5% Federal Agency/GSE 0.3% Mny Mkt Fund / Pool 0.6% Municipal 4.4% Supra-Sov / Supra-Natl Agency 38.8% U.S. Treasury PFM Asset Management LLC *An average of each security’s credit rating assigned a numeric value and adjusted for its relative weighting in the portfolio. **Securities rated BBB+ by S&P are rated A or the equivalent or better by Fitch and/or Moody's. 23 LAKE ELSINORE HOUSING FUNDS For the Quarter Ended December 31, 2017 Portfolio Performance Portfolio Earnings Quarter-Ended December 31, 2017 Market Value Basis Accrual (Amortized Cost) Basis Net Purchases/Sales Change in Value Interest Earned $5,125,061.53 $18,926.02 ($39,644.79) $23,336.90 ($16,307.89) $5,104,342.76 $5,142,832.81 $18,926.02 ($4,536.21) $23,336.90 $18,800.69 $5,157,222.62 Portfolio Earnings Beginning Value (09/30/2017) Ending Value (12/31/2017) PFM Asset Management LLC 24 LAKE ELSINORE HOUSING FUNDS For the Quarter Ended December 31, 2017 Portfolio Composition Issuer Distribution As of December 31, 2017 Market Value ($)% of PortfolioIssuer UNITED STATES TREASURY 1,982,199 38.8% FEDERAL HOME LOAN BANKS 421,572 8.3% FANNIE MAE 231,271 4.5% WELLS FARGO & COMPANY 174,616 3.4% INTL BANK OF RECONSTRUCTION AND DEV 122,771 2.4% JP MORGAN CHASE & CO 100,873 2.0% AMERICAN HONDA FINANCE 100,150 2.0% BANK OF MONTREAL 100,124 2.0% CISCO SYSTEMS INC 100,112 2.0% INTER-AMERICAN DEVELOPMENT BANK 100,085 2.0% NORDEA BANK AB 100,062 2.0% ROYAL BANK OF CANADA 100,000 2.0% WESTPAC BANKING CORP 99,834 2.0% BANK OF NOVA SCOTIA 99,638 2.0% SVENSKA HANDELSBANKEN AB 99,558 2.0% SWEDBANK AB 99,460 2.0% SKANDINAVISKA ENSKILDA BANKEN AB 98,716 1.9% THE BANK OF NEW YORK MELLON CORPORATION 75,088 1.5%Top 5 = 57.4%Top 10 = 67.3% PFM Asset Management LLC 25 For the Quarter Ended December 31, 2017 Portfolio Composition Market Value ($)% of Portfolio LAKE ELSINORE HOUSING FUNDS Issuer CITIGROUP INC 74,951 1.5% WAL-MART STORES INC 74,517 1.5% FREDDIE MAC 73,940 1.5% BANK OF AMERICA CO 49,978 1.0% MORGAN STANLEY 49,916 1.0% MICROSOFT CORP 49,852 1.0% GOLDMAN SACHS GROUP INC 49,849 1.0% APPLE INC 49,684 1.0% THE WALT DISNEY CORPORATION 49,586 1.0% BB&T CORPORATION 49,407 1.0% CHEVRON CORPORATION 45,000 0.9% PEPSICO INC 39,545 0.8% CATERPILLAR INC 39,533 0.8% STATE OF CONNECTICUT 29,914 0.6% AMERICAN EXPRESS CO 29,909 0.6% BURLINGTON NORTHERN SANTA FE 26,059 0.5% DEERE & COMPANY 24,823 0.5% PACCAR FINANCIAL CORP 24,810 0.5% HOME DEPOT INC 24,801 0.5% STATE STREET CORPORATION 24,639 0.5% CAMP POOL 17,503 0.3% PFM Asset Management LLC 26 LAKE ELSINORE HOUSING FUNDS For the Quarter Ended December 31, 2017 Portfolio Composition 5,104,343 100.0%Grand Total: PFM Asset Management LLC 27 Portfolio Holdings For the Month Ending December 31, 2017Managed 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 12/02/2013 2.000% 11/30/2020 150,140.70 152,664.67 263.74 154,283.20 03/04/1603/02/16AaaAA+ 150,000.00 912828A42 1.38 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 297,914.10 303,556.25 14.50 305,378.90 05/31/1605/27/16AaaAA+ 300,000.00 912828N48 1.35 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 574,663.05 594,255.83 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 282,840.48 292,539.30 926.17 293,692.97 06/29/1606/27/16AaaAA+ 290,000.00 912828Q37 0.98 US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 244,589.75 246,049.36 588.74 245,009.77 02/03/1702/01/17AaaAA+ 250,000.00 912828Q78 1.87 US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 342,425.65 344,599.77 824.24 343,054.69 01/05/1701/03/17AaaAA+ 350,000.00 912828Q78 1.86 US TREASURY NOTES DTD 05/31/2016 1.375% 05/31/2021 879,750.00 880,892.23 1,087.91 876,621.09 03/17/1703/15/17AaaAA+ 900,000.00 912828R77 2.02 US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 1,197,937.20 1,231,277.00 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 323,933.68 334,175.44 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 797,375.20 805,182.93 5,436.46 806,187.50 04/05/1704/03/17AaaAA+ 800,000.00 912828D72 1.82 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1,021,636.98 1,027,385.74 6,965.47 1,028,042.97 12/05/1612/01/16AaaAA+ 1,025,000.00 912828D72 1.93 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1,146,226.85 1,156,193.49 7,814.92 1,156,962.89 07/11/1707/06/17AaaAA+ 1,150,000.00 912828D72 1.85 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 1,395,406.60 1,413,457.32 9,513.81 1,415,257.81 06/29/1706/27/17AaaAA+ 1,400,000.00 912828D72 1.73 US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 702,343.75 709,122.43 1,552.14 708,206.05 10/10/1710/05/17AaaAA+ 725,000.00 912828T67 1.85 28 For the Month Ending December 31, 2017Managed 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 10/31/2016 1.250% 10/31/2021 1,065,625.00 1,084,009.12 2,354.97 1,082,640.63 08/31/1708/30/17AaaAA+ 1,100,000.00 912828T67 1.64 US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 444,621.15 445,397.93 1,445.10 445,324.22 12/06/1712/04/17AaaAA+ 450,000.00 912828X47 2.12 47,014.08 10,867,430.14 11,020,758.81 1.66 11,044,108.98 10,990,000.00 Security Type Sub-Total Supra-National Agency Bond / Note INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 736,627.50 748,367.18 3,317.13 748,200.00 09/19/1709/12/17AaaAAA 750,000.00 45905UP32 1.64 INTER-AMERICAN DEVELOPMENT BANK DTD 11/08/2013 2.125% 11/09/2020 600,507.00 605,168.45 1,841.67 605,561.46 10/10/1710/02/17AaaAAA 600,000.00 4581X0CD8 1.81 5,158.80 1,337,134.50 1,353,535.63 1.72 1,353,761.46 1,350,000.00 Security Type Sub-Total Municipal Bond / Note UNIV OF CAL TXBL REV BONDS DTD 04/10/2014 1.904% 05/15/2018 125,126.25 125,000.00 304.11 125,000.00 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 164,524.80 165,144.22 959.04 165,463.65 03/25/1503/16/15A1A+ 165,000.00 20772JZK1 1.90 1,263.15 289,651.05 290,144.22 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 49,256.80 49,320.91 63.71 49,813.95 04/30/1504/15/15AaaAA+ 49,320.91 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 45,020.15 45,156.03 71.30 45,512.33 11/30/1511/06/15AaaAA+ 45,061.72 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 131,507.90 132,413.59 180.99 133,268.66 10/30/1510/07/15AaaAA+ 131,947.36 3136AQDQ0 1.08 29 For the Month Ending December 31, 2017Managed 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 316.00 225,784.85 226,890.53 1.05 228,594.94 226,329.99 Security Type Sub-Total Federal Agency Bond / Note FNMA BENCHMARK NOTE DTD 08/02/2016 0.875% 08/02/2019 172,195.28 174,843.56 633.77 174,706.00 08/02/1607/29/16AaaAA+ 175,000.00 3135G0N33 0.93 FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 591,149.40 599,477.05 2,050.00 599,064.00 09/02/1608/31/16AaaAA+ 600,000.00 3135G0P49 1.05 FANNIE MAE GLOBAL NOTES DTD 10/25/2016 1.000% 10/24/2019 393,477.60 399,347.16 744.44 398,928.00 10/25/1610/21/16AaaAA+ 400,000.00 3135G0R39 1.09 FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 732,579.28 739,892.66 1,300.14 739,829.80 11/17/1611/16/16AaaAA+ 740,000.00 3130AA3R7 1.38 FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 544,292.65 549,745.19 2,818.75 549,648.00 02/28/1702/24/17AaaAA+ 550,000.00 3135G0T29 1.52 FHLMC AGENCY NOTES DTD 04/20/2017 1.375% 04/20/2020 739,398.75 748,021.34 2,033.85 747,435.00 04/20/1704/19/17AaaAA+ 750,000.00 3137EAEF2 1.49 FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 152,298.97 154,552.26 550.57 154,502.45 09/08/1709/07/17AaaAA+ 155,000.00 3130ACE26 1.48 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 700,913.33 721,852.17 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 135,663.64 139,649.01 651.39 139,521.06 08/19/1608/17/16AaaAA+ 140,000.00 3135G0N82 1.32 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 445,751.96 458,634.59 2,140.28 458,137.00 08/19/1608/17/16AaaAA+ 460,000.00 3135G0N82 1.33 16,706.78 4,607,720.86 4,686,014.99 1.31 4,682,362.59 4,695,000.00 Security Type Sub-Total Corporate Note CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 270,303.21 270,687.11 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 300,336.90 300,961.08 2,125.00 302,817.00 09/04/1509/01/15A1AA- 300,000.00 17275RAR3 1.85 30 For the Month Ending December 31, 2017Managed 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 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 49,849.25 49,937.95 183.33 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 249,246.25 249,928.59 916.67 249,840.00 04/26/1604/21/16A3BBB+ 250,000.00 38141GVT8 2.02 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 104,695.40 104,973.42 143.50 104,945.40 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 575,859.63 574,635.62 4,887.50 573,936.25 09/09/1409/04/14A2A+ 575,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 156,352.95 158,324.14 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 265,445.25 266,960.41 6,607.64 289,082.50 03/25/1503/20/15A2A 250,000.00 36962G4J0 2.05 CITIGROUP INC (CALLABLE) CORP NOTE DTD 01/10/2017 2.450% 01/10/2020 300,138.30 299,918.04 3,491.25 299,880.00 01/10/1701/04/17Baa1BBB+ 300,000.00 172967LF6 2.46 WELLS FARGO & CO CORP BONDS DTD 02/02/2015 2.150% 01/30/2020 74,835.53 75,127.63 676.35 75,288.00 03/27/1503/24/15A2A 75,000.00 94974BGF1 2.07 WELLS FARGO & CO CORP BONDS DTD 02/02/2015 2.150% 01/30/2020 374,177.63 376,125.37 3,381.77 377,621.25 02/05/1502/02/15A2A 375,000.00 94974BGF1 2.00 MICROSOFT CORP DTD 02/06/2017 1.850% 02/06/2020 299,112.90 299,858.33 2,235.42 299,799.00 02/06/1701/30/17AaaAAA 300,000.00 594918BV5 1.87 AMERICAN EXPRESS CREDIT (CALLABLE) CORP DTD 03/03/2017 2.200% 03/03/2020 179,455.14 179,863.25 1,298.00 179,812.80 03/03/1702/28/17A2A- 180,000.00 0258M0EE5 2.24 WALT DISNEY COMPANY CORP NOTES DTD 03/06/2017 1.950% 03/04/2020 124,593.75 124,976.17 792.19 124,967.50 03/06/1703/01/17A2A+ 125,000.00 25468PDP8 1.96 TOYOTA MOTOR CORP NOTES DTD 03/12/2015 2.150% 03/12/2020 199,368.60 200,808.40 1,301.94 201,776.00 03/27/1503/23/15Aa3AA- 200,000.00 89236TCF0 1.96 31 For the Month Ending December 31, 2017Managed 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 TOYOTA MOTOR CREDIT CORP (CALLABLE) DTD 04/17/2017 1.950% 04/17/2020 224,094.15 224,920.32 901.88 224,896.50 04/17/1704/11/17Aa3AA- 225,000.00 89236TDU6 1.97 HOME DEPOT INC CORP NOTES DTD 06/05/2017 1.800% 06/05/2020 148,807.20 149,929.24 195.00 149,913.00 06/05/1705/24/17A2A 150,000.00 437076BQ4 1.82 WALT DISNEY COMPANY CORP NOTES DTD 06/06/2017 1.800% 06/05/2020 173,551.00 174,834.70 227.50 174,797.00 06/06/1706/01/17A2A+ 175,000.00 25468PDU7 1.84 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 580,020.90 576,503.84 351.39 577,857.75 09/04/1509/01/15A3A- 575,000.00 46625HLW8 2.64 CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 222,373.35 224,830.46 1,318.13 224,811.00 09/07/1709/05/17A3A 225,000.00 14913Q2A6 1.88 PACCAR FINANCIAL CORP NOTES DTD 11/13/2017 2.050% 11/13/2020 148,857.90 149,987.09 410.00 149,986.50 11/13/1711/06/17A1A+ 150,000.00 69371RN85 2.05 APPLE INC DTD 11/13/2017 2.000% 11/13/2020 298,104.30 299,758.92 800.00 299,748.00 11/13/1711/06/17Aa1AA+ 300,000.00 037833DJ6 2.03 WAL-MART STORES INC CORP NOTE DTD 10/20/2017 1.900% 12/15/2020 298,067.70 299,592.87 1,124.17 299,565.00 10/20/1710/11/17Aa2AA 300,000.00 931142EA7 1.95 BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 74,290.50 74,966.67 291.15 74,965.50 10/26/1710/23/17A2A- 75,000.00 05531FAZ6 2.17 PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 197,725.00 199,962.59 900.00 199,960.00 10/10/1710/05/17A1A+ 200,000.00 713448DX3 2.01 BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 300,675.60 304,714.41 1,583.33 306,978.00 05/19/1605/16/16A1A 300,000.00 06406FAA1 2.00 BANK OF AMERICA CORP NOTE DTD 04/19/2016 2.625% 04/19/2021 100,510.20 100,741.32 525.00 100,776.00 11/03/1711/01/17A3A- 100,000.00 06051GFW4 2.39 MORGAN STANLEY CORP NOTES DTD 04/21/2016 2.500% 04/21/2021 299,497.80 300,928.85 1,458.33 300,972.00 11/03/1711/01/17A3BBB+ 300,000.00 61746BEA0 2.40 32 For the Month Ending December 31, 2017Managed 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 AMERICAN EXPRESS CREDIT (CALLABLE) NOTES DTD 05/05/2016 2.250% 05/05/2021 198,421.80 199,680.58 700.00 199,536.00 05/31/1605/25/16A2A- 200,000.00 0258M0EB1 2.30 BRANCH BANKING & TRUST (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 147,858.00 149,932.36 435.63 149,901.00 05/16/1605/10/16A2A- 150,000.00 05531FAV5 2.06 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 73,917.45 74,804.63 170.63 74,716.50 05/24/1605/19/16A1A 75,000.00 857477AV5 2.03 BANK OF AMERICA CORP (CALLABLE) DTD 09/18/2017 2.328% 10/01/2021 199,436.20 200,000.00 1,332.13 200,000.00 09/18/1709/13/17A3A- 200,000.00 06051GGS2 2.33 JOHN DEERE CAPITAL CORP NOTES DTD 01/06/2017 2.650% 01/06/2022 276,601.33 273,981.79 3,542.53 273,787.25 03/15/1703/10/17A2A 275,000.00 24422ETL3 2.75 47,982.36 7,486,581.07 7,513,156.15 2.13 7,550,943.70 7,480,000.00 Security Type Sub-Total Certificate of Deposit ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 574,997.70 575,000.00 3,041.11 575,000.00 03/15/1603/11/16P-1A-1+ 575,000.00 78009NZZ2 1.69 CANADIAN IMPERIAL BANK NY CD DTD 12/05/2016 1.760% 11/30/2018 573,786.18 574,794.00 871.44 574,551.50 12/05/1612/01/16P-1A-1 575,000.00 13606A5Z7 1.78 NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 575,356.50 575,000.00 899.56 575,000.00 12/05/1612/01/16P-1A-1+ 575,000.00 65558LWA6 1.74 SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 597,347.40 600,000.00 5,512.50 600,000.00 01/12/1701/10/17Aa2AA- 600,000.00 86958JHB8 1.91 BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 600,742.20 600,000.00 4,512.00 600,000.00 02/09/1702/08/17A1A+ 600,000.00 06427KRC3 1.90 BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 572,918.50 575,000.00 2,684.61 575,000.00 04/06/1704/05/17A1A+ 575,000.00 06417GUE6 1.91 SKANDINAV ENSKILDA BANKEN NY CD DTD 08/04/2017 1.840% 08/02/2019 592,295.74 599,814.22 4,600.00 599,766.00 08/04/1708/03/17Aa3A+ 600,000.00 83050FXT3 1.85 33 For the Month Ending December 31, 2017Managed 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 WESTPAC BANKING CORP NY CD DTD 08/07/2017 2.050% 08/03/2020 539,103.60 540,000.00 4,428.00 540,000.00 08/07/1708/03/17Aa3AA- 540,000.00 96121T4A3 2.05 SWEDBANK (NEW YORK) CERT DEPOS DTD 11/17/2017 2.270% 11/16/2020 596,758.80 600,000.00 1,702.50 600,000.00 11/17/1711/16/17Aa3AA- 600,000.00 87019U6D6 2.30 28,251.72 5,223,306.62 5,239,608.22 1.90 5,239,317.50 5,240,000.00 Security Type Sub-Total 30,271,329.99 30,389,552.82 1.77 146,692.89 30,330,108.55 30,037,609.09 Managed Account Sub-Total Money Market Fund CAMP Pool 61,215.91 61,215.91 0.00 61,215.91 NRAAAm 61,215.91 61,215.91 61,215.91 0.00 61,215.91 61,215.91 Money Market Sub-Total $30,332,545.90 $30,450,768.73 $146,692.89 $30,391,324.46 $30,098,825.00 1.77% $30,245,517.89 $146,692.89 Total Investments Accrued Interest Securities Sub-Total 34 For the Month Ending December 31, 2017Managed 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 09/03/2013 2.125% 08/31/2020 15,069.14 15,150.56 108.30 15,259.57 12/30/1512/28/15AaaAA+ 15,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 34,801.76 35,391.87 104.90 35,648.05 02/03/1602/01/16AaaAA+ 35,000.00 912828WC0 1.35 US TREASURY NOTES DTD 12/02/2013 2.000% 11/30/2020 25,023.45 25,444.11 43.96 25,713.87 03/04/1603/02/16AaaAA+ 25,000.00 912828A42 1.38 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 14,895.71 15,177.81 0.73 15,268.94 05/31/1605/27/16AaaAA+ 15,000.00 912828N48 1.35 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 74,956.05 77,511.63 509.67 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 53,642.16 55,481.59 175.65 55,700.39 06/29/1606/27/16AaaAA+ 55,000.00 912828Q37 0.98 US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 127,186.67 127,994.20 306.15 127,420.32 01/05/1701/03/17AaaAA+ 130,000.00 912828Q78 1.86 US TREASURY NOTES DTD 05/31/2016 1.375% 05/31/2021 97,750.00 97,876.91 120.88 97,402.34 03/17/1703/15/17AaaAA+ 100,000.00 912828R77 2.02 US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 199,656.20 205,212.83 351.65 207,187.50 09/02/1609/01/16AaaAA+ 200,000.00 912828WN6 1.22 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 124,589.88 128,529.01 849.45 129,692.38 10/05/1610/03/16AaaAA+ 125,000.00 912828D72 1.21 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 124,589.88 125,290.94 849.45 125,371.09 12/05/1612/01/16AaaAA+ 125,000.00 912828D72 1.93 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 149,507.85 150,807.85 1,019.34 150,908.20 07/11/1707/06/17AaaAA+ 150,000.00 912828D72 1.85 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 224,261.78 226,457.70 1,529.01 226,740.23 04/05/1704/03/17AaaAA+ 225,000.00 912828D72 1.82 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 224,261.78 227,162.78 1,529.01 227,452.15 06/29/1706/27/17AaaAA+ 225,000.00 912828D72 1.73 35 For the Month Ending December 31, 2017Managed 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 10/31/2016 1.250% 10/31/2021 125,937.50 127,152.99 278.31 126,988.67 10/10/1710/05/17AaaAA+ 130,000.00 912828T67 1.85 US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 242,187.50 246,365.71 535.22 246,054.69 08/31/1708/30/17AaaAA+ 250,000.00 912828T67 1.64 US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 74,103.53 74,232.99 240.85 74,220.70 12/06/1712/04/17AaaAA+ 75,000.00 912828X47 2.12 8,552.53 1,932,420.84 1,961,241.48 1.64 1,965,697.06 1,955,000.00 Security Type Sub-Total Supra-National Agency Bond / Note INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 147,325.50 149,673.44 663.43 149,640.00 09/19/1709/12/17AaaAAA 150,000.00 45905UP32 1.64 INTER-AMERICAN DEVELOPMENT BANK DTD 11/08/2013 2.125% 11/09/2020 100,084.50 100,861.41 306.94 100,926.91 10/10/1710/02/17AaaAAA 100,000.00 4581X0CD8 1.81 970.37 247,410.00 250,534.85 1.71 250,566.91 250,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 29,913.60 30,026.22 174.37 30,084.30 03/25/1503/16/15A1A+ 30,000.00 20772JZK1 1.90 174.37 29,913.60 30,026.22 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 9,121.63 9,133.50 13.63 9,224.81 04/30/1504/15/15AaaAA+ 9,133.50 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 9,004.04 9,031.21 14.26 9,102.47 11/30/1511/06/15AaaAA+ 9,012.35 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 22,331.53 22,485.33 30.73 22,630.54 10/30/1510/07/15AaaAA+ 22,406.16 3136AQDQ0 1.08 36 For the Month Ending December 31, 2017Managed 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 58.62 40,457.20 40,650.04 1.05 40,957.82 40,552.01 Security Type Sub-Total Federal Agency Bond / Note FREDDIE MAC NOTES DTD 07/19/2017 1.375% 08/15/2019 39,656.76 39,953.92 247.50 39,941.20 07/19/1707/18/17AaaAA+ 40,000.00 3137EAEH8 1.45 FNMA NOTES DTD 09/02/2016 1.000% 08/28/2019 123,156.13 124,891.05 427.08 124,805.00 09/02/1608/31/16AaaAA+ 125,000.00 3135G0P49 1.05 FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 123,085.00 124,937.56 329.86 124,891.25 09/09/1609/08/16AaaAA+ 125,000.00 3130A9EP2 1.03 FANNIE MAE GLOBAL NOTES DTD 10/25/2016 1.000% 10/24/2019 177,064.92 179,706.22 335.00 179,517.60 10/25/1610/21/16AaaAA+ 180,000.00 3135G0R39 1.09 FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 138,596.08 139,979.69 245.97 139,967.80 11/17/1611/16/16AaaAA+ 140,000.00 3130AA3R7 1.38 FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 49,481.15 49,976.84 256.25 49,968.00 02/28/1702/24/17AaaAA+ 50,000.00 3135G0T29 1.52 FHLMC AGENCY NOTES DTD 04/20/2017 1.375% 04/20/2020 73,939.88 74,802.13 203.39 74,743.50 04/20/1704/19/17AaaAA+ 75,000.00 3137EAEF2 1.49 FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 29,477.22 29,913.34 106.56 29,903.70 09/08/1709/07/17AaaAA+ 30,000.00 3130ACE26 1.48 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 120,847.13 124,457.27 652.34 124,239.88 07/15/1607/14/16AaaAA+ 125,000.00 3130A8QS5 1.25 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 24,225.65 24,937.33 116.32 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 77,522.08 79,762.54 372.22 79,676.00 08/19/1608/17/16AaaAA+ 80,000.00 3135G0N82 1.33 3,292.49 977,052.00 993,317.89 1.24 992,568.41 995,000.00 Security Type Sub-Total Corporate Note CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 29,999.94 30,000.00 10.02 30,000.00 06/24/1306/17/13Aa2AA- 30,000.00 166764AE0 1.72 37 For the Month Ending December 31, 2017Managed 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 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 50,056.15 50,127.24 354.17 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 50,056.15 50,160.18 354.17 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 49,849.25 49,985.72 183.33 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 24,927.48 24,993.67 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 100,149.50 99,936.63 850.00 99,815.00 09/09/1409/04/14A2A+ 100,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 26,058.83 26,387.36 293.75 27,597.50 06/08/1606/03/16A3A 25,000.00 12189TBC7 1.48 CITIGROUP INC (CALLABLE) CORP NOTE DTD 01/10/2017 2.450% 01/10/2020 50,023.05 49,986.34 581.88 49,980.00 01/10/1701/04/17Baa1BBB+ 50,000.00 172967LF6 2.46 MICROSOFT CORP DTD 02/06/2017 1.850% 02/06/2020 49,852.15 49,976.39 372.57 49,966.50 02/06/1701/30/17AaaAAA 50,000.00 594918BV5 1.87 AMERICAN EXPRESS CREDIT (CALLABLE) CORP DTD 03/03/2017 2.200% 03/03/2020 29,909.19 29,977.21 216.33 29,968.80 03/03/1702/28/17A2A- 30,000.00 0258M0EE5 2.24 WALT DISNEY COMPANY CORP NOTES DTD 03/06/2017 1.950% 03/04/2020 24,918.75 24,995.23 158.44 24,993.50 03/06/1703/01/17A2A+ 25,000.00 25468PDP8 1.96 TOYOTA MOTOR CREDIT CORP (CALLABLE) DTD 04/17/2017 1.950% 04/17/2020 74,698.05 74,973.44 300.63 74,965.50 04/17/1704/11/17Aa3AA- 75,000.00 89236TDU6 1.97 HOME DEPOT INC CORP NOTES DTD 06/05/2017 1.800% 06/05/2020 24,801.20 24,988.21 32.50 24,985.50 06/05/1705/24/17A2A 25,000.00 437076BQ4 1.82 WALT DISNEY COMPANY CORP NOTES DTD 06/06/2017 1.800% 06/05/2020 24,793.00 24,976.39 32.50 24,971.00 06/06/1706/01/17A2A+ 25,000.00 25468PDU7 1.84 38 For the Month Ending December 31, 2017Managed 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 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 100,873.20 100,261.54 61.11 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 39,533.04 39,969.86 234.33 39,966.40 09/07/1709/05/17A3A 40,000.00 14913Q2A6 1.88 PACCAR FINANCIAL CORP NOTES DTD 11/13/2017 2.050% 11/13/2020 24,809.65 24,997.85 68.33 24,997.75 11/13/1711/06/17A1A+ 25,000.00 69371RN85 2.05 APPLE INC DTD 11/13/2017 2.000% 11/13/2020 49,684.05 49,959.82 133.33 49,958.00 11/13/1711/06/17Aa1AA+ 50,000.00 037833DJ6 2.03 WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 50,202.55 50,722.39 85.00 51,108.00 05/10/1605/06/16A2A 50,000.00 94974BGR5 2.04 WAL-MART STORES INC CORP NOTE DTD 10/20/2017 1.900% 12/15/2020 74,516.93 74,898.22 281.04 74,891.25 10/20/1710/11/17Aa2AA 75,000.00 931142EA7 1.95 BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 24,763.50 24,988.89 97.05 24,988.50 10/26/1710/23/17A2A- 25,000.00 05531FAZ6 2.17 PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 39,545.00 39,992.52 180.00 39,992.00 10/10/1710/05/17A1A+ 40,000.00 713448DX3 2.01 BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 50,112.60 50,776.32 263.89 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00 BANK OF AMERICA CORP NOTE DTD 04/19/2016 2.625% 04/19/2021 15,076.53 15,111.20 78.75 15,116.40 11/03/1711/01/17A3A- 15,000.00 06051GFW4 2.39 MORGAN STANLEY CORP NOTES DTD 04/21/2016 2.500% 04/21/2021 49,916.30 50,154.81 243.06 50,162.00 11/03/1711/01/17A3BBB+ 50,000.00 61746BEA0 2.40 BRANCH BANKING & TRUST (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 24,643.00 24,988.73 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 24,639.15 24,934.88 56.88 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03 39 For the Month Ending December 31, 2017Managed 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 AMERICA CORP (CALLABLE) DTD 09/18/2017 2.328% 10/01/2021 34,901.34 35,000.00 233.12 35,000.00 09/18/1709/13/17A3A- 35,000.00 06051GGS2 2.33 JOHN DEERE CAPITAL CORP NOTES DTD 01/06/2017 2.650% 01/06/2022 50,291.15 49,814.87 644.10 49,779.50 03/15/1703/10/17A2A 50,000.00 24422ETL3 2.75 6,507.05 1,263,600.68 1,268,035.91 2.12 1,270,637.60 1,265,000.00 Security Type Sub-Total Certificate of Deposit ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 99,999.60 100,000.00 528.89 100,000.00 03/15/1603/11/16P-1A-1+ 100,000.00 78009NZZ2 1.69 NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 100,062.00 100,000.00 156.44 100,000.00 12/05/1612/01/16P-1A-1+ 100,000.00 65558LWA6 1.74 SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 99,557.90 100,000.00 918.75 100,000.00 01/12/1701/10/17Aa2AA- 100,000.00 86958JHB8 1.91 BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 100,123.70 100,000.00 752.00 100,000.00 02/09/1702/08/17A1A+ 100,000.00 06427KRC3 1.90 BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 99,638.00 100,000.00 466.89 100,000.00 04/06/1704/05/17A1A+ 100,000.00 06417GUE6 1.91 SKANDINAV ENSKILDA BANKEN NY CD DTD 08/04/2017 1.840% 08/02/2019 98,715.96 99,969.04 766.67 99,961.00 08/04/1708/03/17Aa3A+ 100,000.00 83050FXT3 1.85 WESTPAC BANKING CORP NY CD DTD 08/07/2017 2.050% 08/03/2020 99,834.00 100,000.00 820.00 100,000.00 08/07/1708/03/17Aa3AA- 100,000.00 96121T4A3 2.05 SWEDBANK (NEW YORK) CERT DEPOS DTD 11/17/2017 2.270% 11/16/2020 99,459.80 100,000.00 283.75 100,000.00 11/17/1711/16/17Aa3AA- 100,000.00 87019U6D6 2.30 4,693.39 797,390.96 799,969.04 1.92 799,961.00 800,000.00 Security Type Sub-Total 5,335,552.01 5,350,473.10 1.73 24,248.82 5,343,775.43 5,288,245.28 Managed Account Sub-Total Money Market Fund 40 For the Month Ending December 31, 2017Managed 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 Money Market Fund CAMP Pool 18,954.71 18,954.71 0.00 18,954.71 NRAAAm 18,954.71 18,954.71 18,954.71 0.00 18,954.71 18,954.71 Money Market Sub-Total $5,354,506.72 $5,369,427.81 $24,248.82 $5,362,730.14 $5,307,199.99 1.73% $5,331,448.81 $24,248.82 Total Investments Accrued Interest Securities Sub-Total 41 For the Month Ending December 31, 2017Managed 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 09/03/2013 2.125% 08/31/2020 50,230.45 50,501.88 361.02 50,865.23 12/30/1512/28/15AaaAA+ 50,000.00 912828VV9 1.74 US TREASURY NOTES DTD 12/02/2013 2.000% 11/30/2020 25,023.45 25,444.11 43.96 25,713.86 03/04/1603/02/16AaaAA+ 25,000.00 912828A42 1.38 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 10,112.50 10,320.58 0.66 10,502.34 03/31/1603/30/16AaaAA+ 10,000.00 912828A83 1.28 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 89,374.23 91,066.88 4.35 91,613.67 05/31/1605/27/16AaaAA+ 90,000.00 912828N48 1.35 US TREASURY NOTES DTD 02/28/2014 2.000% 02/28/2021 99,941.40 103,348.84 679.56 104,890.63 07/08/1607/06/16AaaAA+ 100,000.00 912828B90 0.92 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 53,642.16 55,481.59 175.65 55,700.39 06/29/1606/27/16AaaAA+ 55,000.00 912828Q37 0.98 US TREASURY NOTES DTD 05/02/2016 1.375% 04/30/2021 127,186.67 127,994.20 306.15 127,420.31 01/05/1701/03/17AaaAA+ 130,000.00 912828Q78 1.86 US TREASURY NOTES DTD 05/31/2016 1.375% 05/31/2021 122,187.50 122,346.14 151.10 121,752.93 03/17/1703/15/17AaaAA+ 125,000.00 912828R77 2.02 US TREASURY NOTES DTD 06/02/2014 2.000% 05/31/2021 224,613.23 230,864.44 395.60 233,085.94 09/02/1609/01/16AaaAA+ 225,000.00 912828WN6 1.22 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 74,753.93 77,117.41 509.67 77,815.43 10/05/1610/03/16AaaAA+ 75,000.00 912828D72 1.21 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 99,671.90 100,538.56 679.56 100,605.47 07/11/1707/06/17AaaAA+ 100,000.00 912828D72 1.85 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 149,507.85 150,349.13 1,019.34 150,445.31 12/05/1612/01/16AaaAA+ 150,000.00 912828D72 1.93 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 149,507.85 150,971.80 1,019.34 151,160.16 04/05/1704/03/17AaaAA+ 150,000.00 912828D72 1.82 US TREASURY NOTES DTD 09/02/2014 2.000% 08/31/2021 274,097.73 277,643.40 1,868.78 277,997.07 06/29/1706/27/17AaaAA+ 275,000.00 912828D72 1.73 42 For the Month Ending December 31, 2017Managed 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 10/31/2016 1.250% 10/31/2021 125,937.50 127,152.99 278.31 126,988.67 10/10/1710/05/17AaaAA+ 130,000.00 912828T67 1.85 US TREASURY NOTES DTD 10/31/2016 1.250% 10/31/2021 242,187.50 246,365.71 535.22 246,054.69 08/31/1708/30/17AaaAA+ 250,000.00 912828T67 1.64 US TREASURY NOTES DTD 05/01/2017 1.875% 04/30/2022 64,223.06 64,335.26 208.74 64,324.61 12/06/1712/04/17AaaAA+ 65,000.00 912828X47 2.12 8,237.01 1,982,198.91 2,011,842.92 1.63 2,016,936.71 2,005,000.00 Security Type Sub-Total Supra-National Agency Bond / Note INTL BANK OF RECONSTRUCTION AND DEV NOTE DTD 09/19/2017 1.561% 09/12/2020 122,771.25 124,727.86 552.85 124,700.00 09/19/1709/12/17AaaAAA 125,000.00 45905UP32 1.64 INTER-AMERICAN DEVELOPMENT BANK DTD 11/08/2013 2.125% 11/09/2020 100,084.50 100,861.41 306.94 100,926.91 10/10/1710/02/17AaaAAA 100,000.00 4581X0CD8 1.81 859.79 222,855.75 225,589.27 1.72 225,626.91 225,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 29,913.60 30,026.22 174.37 30,084.30 03/25/1503/16/15A1A+ 30,000.00 20772JZK1 1.90 174.37 29,913.60 30,026.22 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 9,121.63 9,133.50 11.80 9,224.81 04/30/1504/15/15AaaAA+ 9,133.50 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 9,004.04 9,031.21 14.26 9,102.47 11/30/1511/06/15AaaAA+ 9,012.35 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 22,331.53 22,485.33 30.73 22,630.54 10/30/1510/07/15AaaAA+ 22,406.16 3136AQDQ0 1.08 43 For the Month Ending December 31, 2017Managed 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 56.79 40,457.20 40,650.04 1.05 40,957.82 40,552.01 Security Type Sub-Total Federal Agency Bond / Note FHLB GLOBAL NOTES DTD 09/09/2016 1.000% 09/26/2019 123,085.00 124,937.56 329.86 124,891.25 09/09/1609/08/16AaaAA+ 125,000.00 3130A9EP2 1.03 FHLB NOTES DTD 11/17/2016 1.375% 11/15/2019 103,947.06 104,984.77 184.48 104,975.85 11/17/1611/16/16AaaAA+ 105,000.00 3130AA3R7 1.38 FNMA NOTES DTD 02/28/2017 1.500% 02/28/2020 89,066.07 89,958.30 461.25 89,942.40 02/28/1702/24/17AaaAA+ 90,000.00 3135G0T29 1.52 FHLMC AGENCY NOTES DTD 04/20/2017 1.375% 04/20/2020 73,939.88 74,802.13 203.39 74,743.50 04/20/1704/19/17AaaAA+ 75,000.00 3137EAEF2 1.49 FHLB NOTES DTD 09/08/2017 1.375% 09/28/2020 73,693.05 74,783.35 266.41 74,759.25 09/08/1709/07/17AaaAA+ 75,000.00 3130ACE26 1.48 FHLB GLOBAL NOTE DTD 07/14/2016 1.125% 07/14/2021 120,847.13 124,457.27 652.34 124,239.88 07/15/1607/14/16AaaAA+ 125,000.00 3130A8QS5 1.25 FNMA NOTES DTD 08/19/2016 1.250% 08/17/2021 24,225.65 24,937.33 116.32 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 77,522.08 79,762.54 372.22 79,676.00 08/19/1608/17/16AaaAA+ 80,000.00 3135G0N82 1.33 2,586.27 686,325.92 698,623.25 1.33 698,142.61 700,000.00 Security Type Sub-Total Corporate Note BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 24,975.08 24,999.73 107.81 24,992.75 03/06/1303/04/13A1A 25,000.00 06406HCJ6 1.36 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 44,999.91 45,000.00 15.03 45,000.00 06/24/1306/17/13Aa2AA- 45,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 50,056.15 50,127.24 354.17 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 50,056.15 50,160.18 354.17 50,469.50 09/04/1509/01/15A1AA- 50,000.00 17275RAR3 1.85 44 For the Month Ending December 31, 2017Managed 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 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 49,849.25 49,985.72 183.33 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 24,927.48 24,993.67 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 100,149.50 99,936.63 850.00 99,815.00 09/09/1409/04/14A2A+ 100,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 26,058.83 26,387.36 293.75 27,597.50 06/08/1606/03/16A3A 25,000.00 12189TBC7 1.48 CITIGROUP INC (CALLABLE) CORP NOTE DTD 01/10/2017 2.450% 01/10/2020 50,023.05 49,986.34 581.88 49,980.00 01/10/1701/04/17Baa1BBB+ 50,000.00 172967LF6 2.46 WELLS FARGO & CO CORP BONDS DTD 02/02/2015 2.150% 01/30/2020 174,616.23 175,525.17 1,578.16 176,223.25 02/05/1502/02/15A2A 175,000.00 94974BGF1 2.00 MICROSOFT CORP DTD 02/06/2017 1.850% 02/06/2020 49,852.15 49,976.39 372.57 49,966.50 02/06/1701/30/17AaaAAA 50,000.00 594918BV5 1.87 AMERICAN EXPRESS CREDIT (CALLABLE) CORP DTD 03/03/2017 2.200% 03/03/2020 29,909.19 29,977.21 216.33 29,968.80 03/03/1702/28/17A2A- 30,000.00 0258M0EE5 2.24 HOME DEPOT INC CORP NOTES DTD 06/05/2017 1.800% 06/05/2020 24,801.20 24,988.21 32.50 24,985.50 06/05/1705/24/17A2A 25,000.00 437076BQ4 1.82 WALT DISNEY COMPANY CORP NOTES DTD 06/06/2017 1.800% 06/05/2020 49,586.00 49,952.77 65.00 49,942.00 06/06/1706/01/17A2A+ 50,000.00 25468PDU7 1.84 JOHN DEERE CAPITAL CORP NOTES DTD 06/22/2017 1.950% 06/22/2020 24,822.70 24,987.36 12.19 24,984.75 06/22/1706/19/17A2A 25,000.00 24422ETS8 1.97 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 100,873.20 100,261.54 61.11 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 CATERPILLAR FINL SERVICE NOTE DTD 09/07/2017 1.850% 09/04/2020 39,533.04 39,969.86 234.33 39,966.40 09/07/1709/05/17A3A 40,000.00 14913Q2A6 1.88 45 For the Month Ending December 31, 2017Managed 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 PACCAR FINANCIAL CORP NOTES DTD 11/13/2017 2.050% 11/13/2020 24,809.65 24,997.85 68.33 24,997.75 11/13/1711/06/17A1A+ 25,000.00 69371RN85 2.05 APPLE INC DTD 11/13/2017 2.000% 11/13/2020 49,684.05 49,959.82 133.33 49,958.00 11/13/1711/06/17Aa1AA+ 50,000.00 037833DJ6 2.03 WAL-MART STORES INC CORP NOTE DTD 10/20/2017 1.900% 12/15/2020 74,516.93 74,898.22 281.04 74,891.25 10/20/1710/11/17Aa2AA 75,000.00 931142EA7 1.95 BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 24,763.50 24,988.89 97.05 24,988.50 10/26/1710/23/17A2A- 25,000.00 05531FAZ6 2.17 PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 39,545.00 39,992.52 180.00 39,992.00 10/10/1710/05/17A1A+ 40,000.00 713448DX3 2.01 BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 50,112.60 50,776.32 263.89 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00 BANK OF AMERICA CORP NOTE DTD 04/19/2016 2.625% 04/19/2021 15,076.53 15,111.20 78.75 15,116.40 11/03/1711/01/17A3A- 15,000.00 06051GFW4 2.39 MORGAN STANLEY CORP NOTES DTD 04/21/2016 2.500% 04/21/2021 49,916.30 50,154.81 243.06 50,162.00 11/03/1711/01/17A3BBB+ 50,000.00 61746BEA0 2.40 BRANCH BANKING & TRUST (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 24,643.00 24,988.73 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 24,639.15 24,934.88 56.88 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03 BANK OF AMERICA CORP (CALLABLE) DTD 09/18/2017 2.328% 10/01/2021 34,901.34 35,000.00 233.12 35,000.00 09/18/1709/13/17A3A- 35,000.00 06051GGS2 2.33 7,054.55 1,327,697.16 1,333,018.62 2.07 1,335,962.85 1,330,000.00 Security Type Sub-Total Certificate of Deposit 46 For the Month Ending December 31, 2017Managed 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 Certificate of Deposit ROYAL BANK OF CANADA NY CD DTD 03/15/2016 1.700% 03/09/2018 99,999.60 100,000.00 528.89 100,000.00 03/15/1603/11/16P-1A-1+ 100,000.00 78009NZZ2 1.69 NORDEA BANK FINLAND NY CD DTD 12/05/2016 1.760% 11/30/2018 100,062.00 100,000.00 156.44 100,000.00 12/05/1612/01/16P-1A-1+ 100,000.00 65558LWA6 1.74 SVENSKA HANDELSBANKEN NY LT CD DTD 01/12/2017 1.890% 01/10/2019 99,557.90 100,000.00 918.75 100,000.00 01/12/1701/10/17Aa2AA- 100,000.00 86958JHB8 1.91 BANK OF MONTREAL CHICAGO CERT DEPOS DTD 02/09/2017 1.880% 02/07/2019 100,123.70 100,000.00 752.00 100,000.00 02/09/1702/08/17A1A+ 100,000.00 06427KRC3 1.90 BANK OF NOVA SCOTIA HOUSTON LT CD DTD 04/06/2017 1.910% 04/05/2019 99,638.00 100,000.00 466.89 100,000.00 04/06/1704/05/17A1A+ 100,000.00 06417GUE6 1.91 SKANDINAV ENSKILDA BANKEN NY CD DTD 08/04/2017 1.840% 08/02/2019 98,715.96 99,969.04 766.67 99,961.00 08/04/1708/03/17Aa3A+ 100,000.00 83050FXT3 1.85 WESTPAC BANKING CORP NY CD DTD 08/07/2017 2.050% 08/03/2020 99,834.00 100,000.00 820.00 100,000.00 08/07/1708/03/17Aa3AA- 100,000.00 96121T4A3 2.05 SWEDBANK (NEW YORK) CERT DEPOS DTD 11/17/2017 2.270% 11/16/2020 99,459.80 100,000.00 283.75 100,000.00 11/17/1711/16/17Aa3AA- 100,000.00 87019U6D6 2.30 4,693.39 797,390.96 799,969.04 1.92 799,961.00 800,000.00 Security Type Sub-Total 5,130,552.01 5,147,672.20 1.75 23,662.17 5,139,719.36 5,086,839.50 Managed Account Sub-Total Money Market Fund CAMP Pool 17,503.26 17,503.26 0.00 17,503.26 NRAAAm 17,503.26 17,503.26 17,503.26 0.00 17,503.26 17,503.26 Money Market Sub-Total $5,148,055.27 $5,165,175.46 $23,662.17 $5,157,222.62 $5,104,342.76 1.75% $5,128,004.93 $23,662.17 Total Investments Accrued Interest Securities Sub-Total 47 Appendix For the Quarter Ended December 31, 2017 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 à Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Interactive Data, Bloomberg, or Telerate. 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. à 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. à 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. à Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets. à Money market fund/cash balances are included in performance and duration computations. à Standard & Poorʼs is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings. à Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity. à MBS maturities are represented by expected average life. PFM Asset Management LLC 48 For the Quarter Ended December 31, 2017 Appendix GLOSSARY à ACCRUED INTEREST: Interest that is due on a bond or other fixed income security since the last interest payment was made. à AGENCIES: Federal agency securities and/or Government-sponsored enterprises. à 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. à 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. à COMMERCIAL PAPER: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory. à 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. à 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. à EFFECTIVE DURATION: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years. à 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 ominal yield does not. à FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount. à INTEREST RATE: Interest per year divided by principal amount and expressed as a percentage. à MARKET VALUE: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date. à MATURITY: The date upon which the principal or stated value of an investment becomes due and payable. à NEGOTIABLE CERTIFICATES OF DEPOSIT: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets. à PAR VALUE: The nominal dollar face amount of a security. PFM Asset Management LLC 49 For the Quarter Ended December 31, 2017 Appendix GLOSSARY à 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. à 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. à SETTLE DATE: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day. à TRADE DATE: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place. à UNSETTLED TRADE: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place. à U.S. TREASURY: The department of the U.S. government that issues Treasury securities. à 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. à 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. à 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. PFM Asset Management LLC 50