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2014 01 08 IAB-A I - Investment Advisory Board agendas and staff reports are now available on the City's web page: www.la-guinta.org INVESTMENT ADVISORY BOARD AGENDA CITY HALL STUDY SESSION ROOM 78-495 Calle Tampico, La Quinta REGULAR MEETING on WEDNESDAY, JANUARY 8, 2014 AT 4:00 P.M. CALL TO ORDER 1 . Pledge of Allegiance 2. Roll Call PUBLIC COMMENT At this time members of the public may address the Board on any matter not listed on the agenda. Please complete a "Request to Speak" form and limit your comments to three minutes. CONFIRMATION OF AGENDA APPROVAL OF MINUTES 1 . Approval of the Minutes of December 11, 2013 CONSENT CALENDAR Receive and File Treasurer's Report for November 2013 BUSINESS SESSION - None CORRESPONDENCE AND WRITTEN MATERIALS Month End Cash Report, December 2013 and Pooled Money Investment Board Reports — November 2013 INVESTMENT ADVISORY BOARD AGENDA 1 JANUARY 8, 2014 BOARD MEMBER ITEMS - None ADJOURNMENT The next regular meeting of the Investment Advisory Board will be held on February 12, 2014, commencing at 4:00 p.m. at the La Quinta Study Session Room, 78- 495 Calle Tampico, La Quinta, CA 92253. DECLARATION OF POSTING 1, Vianka Orrantia, Senior Secretary, of the City of La Quinta, do hereby declare that the foregoing Agenda for the La Quinta Investment Advisory Board meeting was posted on the outside entry to the Council Chamber at 78-495 Calle Tampico, and the bulletin boards at 78-630 Highway 111, and the La Quinta Cove Post Office at 51-321 Avenida Bermudas, on January 2, 2014. DATED: January 2, 2014 VIANKA ORRANTIA, Senior Secretary City of La Quinta, California Public Notices The La Quinta Study Session Room is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk's office at 777-7123, twenty-four (24) hours in advance of the meeting and accommodations will be made. If special electronic equipment is needed to make presentations to the City Council, arrangements should be made in advance by contacting the City Clerk's office at 777-7123. A one (1) week notice is required. If background material is to be presented to the Investment Advisory Board during a Investment Advisory Board meeting, please be advised that five (5) copies of all documents, exhibits, etc., must be supplied to the Senior Secretary for distribution. It is requested that this take place prior to the beginning of the meeting. Any writings or documents provided to a majority of the Investment Advisory Board regarding any item(s) on this agenda will be made available for public inspection at the City Clerk's counter at City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during normal business hours. INVESTMENT ADVISORY BOARD AGENDA 2 JANUARY 8, 2014 INVESTMENT ADVISORY BOARD MINUTES WEDNESDAY, DECEMBER 11, 2013 CALL TO ORDER A regular meeting of the La Quinta Investment Advisory Board was called to order at 4:03 p.m. by Vice -Chairperson Donais. PRESENT: Board Members Spirtos, Park, and Donais ABSENT: Board Member Mortenson STAFF PRESENT: Finance Director, Robbeyn Bird and Senior Secretary, Vianka Orrantia PUBLIC COMMENT - None CONFIRMATION OF AGENDA— Confirmed APPROVAL OF MINUTES Approval of the Minutes of November 11, 2013 Motion — A motion was made by Board Members Park/Spirtos to approve the Minutes of November 11, 2013, as submitted with a correction to Page 1, under Call to Order to reflect Vice -Chairperson Donais calling the meeting to order; and page 2, under Correspondence and Written Material, the motion approved by the Board should read review and file, deleting the word receive. Motion passed unanimously. CONSENT CALENDAR ITEMS 1. Transmittal of Treasury Report for October 31, 2013 INVESTMENT ADVISORY MINUTES 1 December 11, 2013 Ms. Bird presented and reviewed the staff report for the months of October 2013. Motion — A motion was made by Board Members Park/Spirtos to approve the Treasurer's Report for October 31, 2013. Motion passed unanimously. BUSINESS SESSION - None CORRESPONDENCE AND WRITTEN MATERIAL 1 Month End Cash Reports for November 2013, and the Pooled Money Investment Board Reports for October 2013 Noted and Filed BOARD MEMBER ITEMS — None ADJOURNMENT There being no further business, it was moved by Board Members Park/Spirtos to adjourn this meeting at 4:16 p.m. Motion passed unanimously. R pectfull s ed, Vianka Orrantia,' Senior Secretary City of La Quinta, California INVESTMENT ADVISORY MINUTES 2 December 11, 2013 INVESTMENT ADVISORY BOARD CONSENT CALENDAR: 1 Meeting Date: January 8, 2014 ITFM TITLF- Transmittal of Treasury Report for November 30, 2013 BACKGROUND: Attached please find the Treasury Report November 30, 2013. RECOMMENDATION: Review, Receive and File the Treasury Report for November 30, 2013. &444mn6�e —Ek� RobbeyrVBird, Finance Director MEMORANDUM TO: La Quinta City Council FROM: Robbeyn Bird, Finance Director/Treasurer SUBJECT: Treasurer's Report for November 30, 2013 DATE: December 31, 2013 Attached is the Treasurers Report for the month ending November 30, 2013. The report is submitted to the City Council each month after a reconciliation of accounts is accomplished by the Finance Department. The following table summarizes the changes in investment types for the month: linvestment Beginning Purchased Notes Sold/Matured Other Ending Change LAIF 15,993,075 $ 4,500,000 $ (2,500,000) 0 $ 17,993,075 2,000,000 Interest bearing active bank deposit - 0 - 0 Certificates of Deposit 1,680,000 0 1,680,000 0 US Treasuries 40,200,516 12,000,000 (12,000,000) (1,035) 40,199,481 (1,035) US Gov't Sponsored Enterprises 42,947,363 (3,000,000) 1,284 39,948,647 (2,998,716) Commercial Paper - 0 0 Corporate Notes 0 0 Mutual Funds 2.846.265 2,932 (288.900) (498)1 2,559,799 (286,466) Subtotal j $ 103,667,219 $ 16,502,932 $ (17,788,900) $ (249)1 $ 102,381,002 (1 lCash 1,684.060 1 $ (1.118.691)1 (1) & (3)1 $ 565,369 1 $ 1,118.691) I ITotal 105.351.279 1 $ 15.384.241 1 $ (17.788.900)1 $ (249)[ $ 102.946,371 $ (2,404,91 I certify that this report accurately reflects all pooled investments and is in compliance with the California Government Code; and is in conformity with the City Investment Policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the pools expenditure requirements for the next six months. The City of La Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and the Bank of New York Monthly Custodian Report to determine the fair market value of investments at month end. Robbeyn BWd Date Finance DireGtorTrreasurer Footnote (1) The amount reported represents the net increase (decrease) of deposits and withdrawals from the previous month. (2) The amount reported in the other column represents the amortization of premium/discount for the month on US Treasury, Commercial Paper and Agency investments. (3) The cash account may reflect a negative balance. This negative balance will be offset with transfers from other investments before warrants are presented for payment by the payee at the bank. PIP, Treasurer's Commentary For the Month of November 2013 Cash Balances - The portfolio size decreased by approximately $2.4 million to end the month at $102.95 million. The major reason for the decrease was due to payment to the County of Riverside in the amount of $1.8 million. This amount represents invoices for the Sheriff's contract for July and August. Investment Activity - The investment activity resulted in an average maturity decrease of 45 days from the prior month to end the month of November at 430 days. The Treasurer follows a buy and hold investment policy. During the month of November, the LAIF account increased by $2.0 million. The sweep account earned $73 in interest income for the month of November and the bank fees for the month were $1,901, which resulted in a net decrease of $1,828 in real savings. Portfolio Performance - The overall portfolio performance remained the same as the prior month and ended at .31 %, with the pooled cash investments at .49%. The portfolio yield should continue to stay at these levels for the near future. At this time last year, the portfolio was yielding .36%, which reflects the current interest rate environment. Looking Ahead In the short term, the Treasurer will be investing in negotiable certificates of deposit, Government Sponsored Enterprises (GSE) paper and rolling over bond proceeds and reserves into U.S. Treasury bills or notes. 3 E E (D E 0 c E 0 2� 75 9 E 0 (D C> 2 a E c �i E w (D 0 4) 0 0 0 0 c 0 c 0 0 c 0 0 c 0 z z z z z z z Z z z E E2 0 0 a. .2 a CL 0 '2 0 �ci L) EL ca 0 �O CO a) ca 0 E E n E > > > > OD 0 c c 0 .0 .0 0 0 M EL Z5 .>G E E E E E E > 0 ct o c 6 E Ct w Ct o w 11 co v v lz� Ct C:� q 9 w 0 1 LO 8000cl LO 0 0 N L6 co C? L6 CNi 6 0 0 0 Ci a5 0 0 U) m w C-7 0 0 0 1 o 0 ct o o m I �T o c6 cq 6 L6 L6 L6 go a? L9 on C� 01 -R cn co o c5 co E go E _R a o LL X m w m o o o lo o m L6 cT U) �E E LL P3 c Z 5:z, 'D — T 23) c w 0 ca 0 0 4) c .2 -5 CO 0 0 co 0 0 '0 w m w a) 0 < L) C.9 0 Cc, .0 < 0 c -C 0 LL 1� z U) , . 0 'co < 0 E 1 0 [2 �2 m . 10 E �3 E > 02 z - c E E �a 0 t 0 0 0 a -2 0 w 0 X: z m L) E a) E E .2 w 0 w 0 El f o, > 0 x w a 0 C6 0 0 LL L� D -.1 al! R m � co co � o q ci E E E L) < -6 0 0- 0 0 0 E E E w m . W LU W .N N! N Z 7-0 C6 c c El t E c a� .5 0 C3 'E E o E (� C—) Z, M m ED ED 03 Ca (j) U) U) U) (j) (6 j ::) zi :j ::) Z) a a oQ a a CL ID C� C� N � N !2 �! � s E S �; I�i M 't ��t IQ " t 1-0 "- M Z 1 .1 0 HER—, w � oi d C6 - - - tE D at Ci 0 (3i (CL oi M 0 M E > _R a - -.R I.R Q 00000 00000 0-00 o 0 o o 6 EB E Fa Ca FO Cn A IL o m �5 o < Co = 0 < X < < T5 jT > E E 0 0 U) C) z E M 0 (L a. fL C� Q� w Co Co fn 0 ED LL "0 u) W, T u) u) co u) mo . . . . . Z' ------------------- lc� CO Iq �i M ia Ezzzzzzzzzzzzzzzzzzz o 83 'R -ffi E E E E E E E E E E 2 E E E E E E E E < < < < < < Z6 lo o o > 3- z z > c/) u) U) > > EL > — (L u) u) mo u) �o3 w Q m o w o — — — w (L a,00= =�02-2 5 — (L 2, - E > con .2 w = o -..5 u) o?,n o . � x ml w G3 o c < <T5 < (D < u) < LL in w VE" —2— c,ow cc o.",� o a_ N E > E 0 m M w 02 a di tg -9 T HO gas Treasurer's Commentary For the Month of November 2013 Cash Balances — The portfolio size decreased by approximately $2.4 million to end the month at $102.95 million. The major reason for the decrease was due to payment to the County of Riverside in the amount of $1.8 million. This amount represents invoices for the Sheriff's contract for July and August. Investment Activity — The investment activity resulted in an average maturity decrease of 31 days from the prior month to end the month of November at 444 days. The Treasurer follows a buy and hold investment policy. During the month of November, the LAIF account increased by $2.0 million. The sweep account earned $73 in interest income for the month of November and the bank fees for the month were $1,901, which resulted in a net decrease of $1,828 in real savings. Portfolio Performance — The overall portfolio performance remained the same as the prior month and ended at .31 %, with the pooled cash investments at .49%. The portfolio yield should continue to stay at these levels for the near future. At this time last year, the portfolio was yielding .36%, which reflects the current interest rate environment. Lookina Ahead In the short term, the Treasurer will be investing in negotiable certificates of deposit, Government Sponsored Enterprises (GSE) paper and rolling over bond proceeds and reserves into U.S. Treasury bills or notes. 3 E E m E 15 E 0 0 E 2a �i E 0 C3 a 0 0 0 0 0 0 w z z z z z z z z U� r -0 E 0 4) 0 0 A Z 0 CL T '7 0 CL 0 o EL P CO u LL LL m Cl) E2 E2 E2 T 0 E E > C > > Cl) > 0 0 0 0 0 0 0 M (L Co 0 > E E E E E 0 E w 0 n 0 C, m m m g c w C; m 0 W v v c c 0 0 Ct S a - 6 . ai� m w 4 0 o 6 Co 00 S SO o q q C? T C? 0 7 Et R Ct Ct EL Cli 0 c Q o U) 0 c Ci q 0 c Co C; T C; 6 C:5 x U) o a Ct cr lz� CD 04 c U) 0 c C'J IE �S�aSs as as CL q q CL C� 0 Ci C� 00000 cccoc 0 R R w q q qCl q R-� C� q LL cc; 1 6 -0 onacm qes qoo c R o =< g w o qct c c c o a c; cd N c6 c; cli < < 1 65 o c 8 E 5 qci m cl q c� u) 1! < 2 --1 c c N Too 0 115 E 0' 12 C L n 2. z C 0 0 a 0 Z, 0 -0 0 0 on 0 a. 0 W -6 mg C . o Q Ck 0 20 X � 4-122 & 2 Z:� < "'o z -C 0 zo < ro, u (D Z; 0 0 0 MD C 0 CQM) C. a z LL < .2 I.F C 2 0 0 Co E -om CL 0 Co E MI c2 w 2 0 E ZE= C3 > U) E wE mE w m o W, 0 C �6 — 0 m . LL M z E E M L) Co E V3 uj E E C 0 C 0 m T zi E c 0 E a a .2 0 C 0 F- W.9 > x rij 0 0 LL w .0 e aR aR > C E > 0 IL 16 "6 '5 E E E w w m www Co cc Co CO E City of La Quinta Comparative Rates of Interest November 30, 2013 Citv of La Quinta FY FY 10/11 FY 11112 FY 12113 FY 13/14 Annu PcdLd Cash laed Famlncs Fiscal Agent Ovemn Average Maturity (days) NINJNote Commercial Paper Three Month Non-Financfal LAIF Rat 1.04% Three Month S= Ona Year Two Yew 0.69% 0.30% 0.65% ill 0.19% 0.28% 0.47% 1.00% 028% 0.64% 0.30% 0.61% 92 0-16% 0.26% 0.46% 1.00% 0.24% 0.93% O�56% 0.31% 0.53% 112 0.12% 0.19% 0.41% 1.00% 0.19% 0.75% Oct 2009 0.52% 0.31% 0.50% 90 0.08% 0,19% 0.38% 1.00% 0.19% 0.65% Nov 2009 0.56% 0.31% 0.53% 152 0.04% 0.14% 0.32% 0.75% 0.15% 0.61% Dec 2009 0.56% 0.15% 0.51% 239 0.11% 0.20% 0.16% 1.00% 0.16% 0.57% Jan 2010 0.46% 0.15% 0.43% 179 0.06% 0.14% 0.34% 0.88% 0.13% 0.56% Feb 2010 0.51% 0.16% 0.48% 162 0.13% 0.19% 0.32% 0.88% 0.15% 0.58% Mar 2010 0.50% 0.16% 0.47% 172 0.15% 0.24% 0.38% 1.00% 0.20% 0-55% Apr 2010 0.52% 0.16% 0.48% 162 0.15% 0.24% 0.49% 1.00% 0.23% 0.59% May 2010 0.52% 0.16% 0.48% 116 0.17% 0.22% 037% 0.75% 0.28% 0.56% June 2010 0.49% 0.06% 0.31% 134 0.16% 0.22% 0.32% 0.63% 0.32% 0.53% July 2010 0.50% 0.15% 0.47% 119 0.16% 0.20% 0.30% 0.63% 0.28% 0.53% August 2010 049% 0.15% 0.46% 108 0.15% 0119% 0.26% 0.38% 0.25% 0.51% Sept2010 0.55% 0.15% 0.51% 107 0.16% 0.19% 0.27% 0.38% 0.24% 0.50% Oct 2010 0.55% 0.15% 0.51% 88 0.13% 0.17% 0.23% 0.38% 0.23% 0.48% Nov 2010 0.53% 0.15% 0.49% 84 0.18% 0.21% 0.28% 0.50% 0.23% 0.45% Dec 2010 0.57% 0.14% 0.52% 265 0.15% 0.19% 0.30% 0.63% 0.23% 0.46% Jan 2011 0.51% 0.14% 0.43% 206 0.16% 0.18% 0.28% O�63% 0.24% 0.54% Feb 2011 0.55% 0.17% 0.46% 210 0.15% 0.17% 0.31% 0.63% 0.23% 0.51% Mar2011 0.54% 0.17% 0.45% 218 0.05% 0.13% 0.26% 0.75% 0.23% 0-50% Apr2011 0.59% 0.17% 0.48% 192 0.05% 0.10% 0.28% 0.63% 0.20% 0.59% May 2011 0.48% 0.17% 0.41% 156 0.06% 0.12% 0.20% 0.50% 0.16% 0.41% June 2011 0.53% 0.00% 0.35% 126 0.03% 0.10% 0.20% 0.38% 0.15% 0.45% July2011 0.53% 0.00% 0.35% 112 0.07% 0.12% 0.15% 0.20% 0.14% 0.38% August 2011 0.60% 0.00% 0.38% 102 0.02% 0.05% 0.10% 0.13% 0.16% 0.41% Sept 2011 0.58% 0.03% 0.39% 124 0.02% 0.06% 0.09% 0.13% 0.14% 0.38% Oct 2011 0.53% 0.03% 0.35% 117 0.01% 0.06% 0.12% 0.25% 0.15% 0.39% Nov 2011 0.52% 0.03% 0.37% 94 0.03% 0.07% 0.10% 0.25% 0,14% 0.40% Dec 2011 0-48% 0.03% 0.35% 86 0.02% 0.06% 0.11% 0.13% 0.14% 0.39% Jan 2012 0.45% 0.03% 0.34% 74 0.05% 0.08% 0.11% 0.25% 0.14% 0.39% Feb 2012 0.49% 0.05% 0.36% 72 0.12% 0.15% 0.17% O�25% 0.17% 0.39% Mar 2012 0.44% 0.05% 0.34% 74 0�08% 0.14% 0.19% 0.25% 0.18% 0.38% Apr 2012 0.44% 0.09% 0-35% 61 0.10% 0.15% 0.19% 0.25% 0.20% 0.37% May 2012 0.43% 0.09% 0.34% 62 0.09% OA4% 0.19% 0.25% 0.19% 0.36% June 2012 0.38% 0.08% 0.29% 47 0.10% 0.15% 0.21% 0.25% 0.21% 0.36% July 2012 0.41% 0.08% 0.31% 112 0.11% 0.15% 0.18% 0.22% 0-22% 0.36% August 2012 0.41% 0.08% 0.29% 31 0.11% 0.14% 0.20% 0.25% 0.20% 0.38% Sept2012 0.43% 0.09% 0.33% 34 0.11% 0.14% 0.18% 0.25% 0.20% 0.35% Oct 2012 0.47% 0.10% 0.36% 22 0.13% 0.16% 0.18% 0.25% 0.19% 0.34% Nov 2012 0.48% 0.10% 036% 161 0.10% 0.15% 0.18% 0.25% 0.20% 0-32% Dec 2012 0.47% 0.10% 0.36% 137 0.08% 0.12% 0.16% 0.13% 0.20% 0.33% Jan 2013 0.44% 0.10% 0.34% ill 0.08% 0.11% 0.14% 0.25% 0.16% 0.30% Feb 2013 0.37% 0.10% 0.29% 105 0.13% 0.14% 0.15% 0.25% 0.17% 0.29% Mar 2013 0.39% 0.09% 0.30% 123 0.08% 0.11% 0.15% 0.25% 0.15% 0.29% Apr 2013 0.31% 0.08% 0.25% 186 0.05% 0.08% 0.14% 0.13% 0.12% 026% May 2013 0.30% 0.06% 0.23% 175 0.05% 0.08% 0.14% 0.25% 0.10% 0.25% June 2013 0.30% 0.07% 0.23% 212 O�05% 0.09% 0.16% 0.38% 010% 0.24% July 2013 0.28% 0-07% 0.21% 336 0.03% 0.07% 0.12% 0.25% 0,11% 0.27% �ugusl 2013 0.28% 0.06% 0.21%j 3073 0.03% 0.06% 0.07% 0.14% 0.09% 0.27% Sept2013 0.30% 0.07% 0.23% 321 0.01% 0.04% 0.01% 0.25% 0.08% 0.26% Oct 2013 048% 0.06% 0.31% 42 0.05% 0.08% 0.16% 0.25% 0.11% 0.27% Nov 2013 1 1 049% 0.06-Y. [ 0.31% 0.05% 0.08% OAS% 0,25% 0.cls% 028% Ee 0 0) .C: C) c (1) ca a) LL -0 c cc E 0 a) > c 0 (no :5 U) CO 0 0 —J 4.- o Ew E E > 0 0 z -0 C) C) Cf) C) C) C) N N LO LO cm N C) C) CD N cm CD C) C) m m a a CD 0) 0) CT CT 6 c"i Cq C) C) C) a CD C) U') to Cq CT �i cn a) :3 =3 U) (1) 0 :3 cu cu 0 LL (1) a) IL F- a) Cj) CO =3 0 IL IL to a) E LL cn > E ds (n 0 .S z -0 -0-0 -0-0 V 0 0 C) Aw LO V) U) LO 6 66 0 cr) ce) m Cf) cr) It-- C) � T- C) C) T- � C) C) cq cq cq N 04 04 V- N C%4 N v-- 04 —C) —C) —C) —C) —C) —CD C:) CO C) C) C) C) Q C) C) C) C) C) 0) 0 CL CT 66 66 C6 06 .5 C) C) C) C) C) 00 co C� C� C� S C� 04 t- r_ co 04 CD N CL a) E CL U) U) 0 0 :3 cu cc 0 0 U- a) (D a_ a_ — 00 CD a) ca U) U) C13 ca U— Z) U) cn V U- U- cu m U) iTO iTO co Z 0 �-- F-- —J —J Z) a) C ca 4) City of La Quinta Comparative Rates of Interest November 30, 2013 Citv of La Quinta Year Month Anewalk7ed Earnings Average ow Commercial Paper Three Month Non -Financial LAIF Ra 1.04% Pooled Cash Fiscal Aaent Overaill Three Month Six Month One Year Two Year FY 09/10 July 200 0.69% 0 30% 0 , 65% -"jEltXLcla�LS ill 0.19% 0.28% OA7% 173�. 0.28% August2OO9 0.64% 0 30% 0.61% 92 0.16% 0-26% 0.46% 1.00% 0.24% 0.931/. Sept 2009 0.56% 0 31% 0.53% 112 0.12% 0.19% 0.41% 1.00% 0.19% 075% Oct 2009 0.52% 0 31% 0.50% 90 0.08% 0.19% 0.38% 1.00% 0.19% 0.65% Nov 2009 0.56% 0 31% 0.53% 152 0.04% 0.14% 0.32% 0.75% 0.15% 0.61% Dec2009 0.56% 0.15% 0.51% 239 0.11% 0.20% 0.16% 1.00% 0.16% 0.57% Jan 2010 0.46% 0.15% 0.43% 179 0.06% 0.14% 0.34% 0.88% 0.13% 0.56% Feb 2010 0.51% 0.16% 0.48% 162 0.13% 0.19% 0.32% 0.88% 0.15% 0.58% Mar2010 0.50% 0.16% 0.47% 172 0.15% 0.24% 0.38% 1.00% 0.20% 0.55% Apr2010 0.52% 0.16% 0.48% 162 0.15% 0.24% 0.49% 1,00% 0.23% 0.59% May 2010 0.52% 0.16% 0.48% 116 0.17% 0.22% 0.37% 0.75% 0.28% 0.56% June 2010 0.49% 0.06% 0.31% 134 0.16% 0.22% 0.32% 0.63% 0.32% 0.53% FY 10/11 July 2010 0.50% 0.151% 0.47% 119 0.16% 0.20% 0.30% 0.63% 0.28% 0.53% Augus' 2010 0.49% 0.15% 0.46% 108 0.15% 0.19% 0.26% 0.38% 0.25% 0.51% Sepl:2010 0.55% 0.15% 0.51% 107 0.16% 0.19% 0.27% 0.38% 0.24% 0.50% Oct 2010 0.55% 0.15% 0.51% 88 0.13% 0.17% 0.23% 0.38% 0.23% 0.48% Nov 2010 0.53% 0.15% 049% 84 0.18% 0,21% 0.28% 0.50% 0.23% 0.45% Dec 2010 0.57% 0.14% 0.52% 265 0.15% 0.19% 0.30% 0.63% 0.23% 0.46% Jan 2011 0.51% 0.14% 0.43% 206 0.16% 0.18% 0-28% 0.63% 0.24% 0.54% Feb 2011 0.55% 0-17% 0.46% 210 0.15% 0.17% 0.31% 0.63% 0.23% 0.51% Mar2011 0.54% 0.17% 0.45% 218 0.05% 0.13% 0.26% 0.75% 0.23% 0.50% Apr2011 0.59% 0.17% 0.48% 192 0.05% 0.10% 0.28% 0.63% 0.20% 0.59% May2011 0.48% 0.17% 0.41% 156 0.06% 0.12% 0.20% 0.50% 0.16% 0.41% June 2011 0.53% 0�00% 0.35% 126 0.03% 0.10% 0.20% 0.38% 0.15% 0.45% FY 11/12 July 2011 053% 0.00% 0.35% 112 0,07% 0.12% 0.15% 0.20% 0.14% 0.38% August2011 0.60% 0.00% 0.38% 102 0.02% 0.05% 0.10% 0.13% 0.16% 0.41% Sept 2011 0.58% 0.03% 0.39% 124 0.02% 0.06% 0.09% 0.13% 0.14% 0.38% Oct 2011 0.53% 0.03% 0.35% 117 0.01% 0.06% 0.12% 0.25% 0.15% 0.39% Nov 2011 0.52% 0.03% 0.37% 94 0.03% 0.07% 0.10% 0.25% 0.14% 040% Dec 2011 0.48% 0.03% 0.35% 86 0.02% 0.06% 0.11% 0.13% 0.14% 0.39% Jan 2012 0.45% 003% 0.34% 74 0.05% 0.08% 0.11% 0.25% OA4% 0.39% Feb 2012 0.49% 0.05% 0.36% 72 0.12% 0.15% 0.17% 0.25% 0.17% 0.39% Mar 2012 0.44% 0.05% 0.34% 74 0.08% 0.14% 0.19% 0.25% 0.18% 0.36% Apr 2012 0.44% 0.09% 0.35% 61 0.10% 0.15% 0.19% 0.25% 0.20% 0.37% May 2012 0.43% 0.09% 0.34% 62 0.09% 0.14% 019% 0.25% 0.19% 0.36% June 2012 0.38% 0.08% 0.29% 47 0.10% 0.15% 0.21% 0.25% 0.21% 0.36% FY 12113 July 2012 0.41% 0.08% 0.31% 112 0.11% 0.15% 0.18% 0.22% 0.22% 0.36% August 2012 0-41% 0.08% 0.29% 31 0.11% 0.14% 0.20% 0.25% 0.20% 0.38% Sept 2012 0.43% 0.09% 0.33% 34 0.11% 0.14% 0.18% 0.25% 0.20% 0.35% Oct 2012 0.47% 0.10% 0.36% 22 0.13% 0.16% 0.18% 0.25% 0.19% 0.34% Nov 2012 0.48% 0.10% 0.36% 161 0.10% 0.15% 0.18% 0.25% 0.20% 0.32% Dec 2012 0.47% 1 0.10% 0.36% 137 0.08% 0.12% 0.16% 0.13% 0.20% 0.33% Jan 2013 0.44% 0.10% 0.34% ill 0.08% 0.11% 0.14% 0.25% 0.16% 0.30% Feb 2013 0.37% 0.10% 0.29% 105 0.13% 0.14% 0.15% 0.25% 0.17% 0-29% Mar2013 0.39% 0.09% 0.30% 123 0.08% 0.11% 0.15% 025% 0.15% 0.29% Apr2013 0.31% 0.08% 0.25% 186 0.05% 0.08% 0.14% 0.13% 0-12% 0.26% May 2013 0.30% 0.06% 0.23% 175 0.05% 0.08% 0.14% 0.25% 0.10% 0-25% June 2013 0.30% 0.07% 0-23% 212 0.05% 0.09% 0.16% 0.38% 0.10% 0.24% FY 13/14 July2013 0.28% 0.07% 0.21% 336 0.03% 0.07% 0.12% 0.25% 0.11% 0.27% August 2013 0.28% 0.06% 0.21% 303 0.03% 0.06% 0.07% 0.14% 0.09% 0-27% Sept 2013 0.30% 0.07% 0.23% 321 0.01% 0.04% 0.01% 0.25% 0.08% 0.26% Oct 2013 0.48% 0.06% 0.31% 427 0.05% 0.08% 0.16% 0.25% 0.11% 0.27% P1 E > 0 z CY) 9 co E a) CL (D U) ce) 2 -2:1 :3 co r- (D 0 0 cc c) C4 C) co C) C> (D C14 0 U') C-) C5 C) a C; 6 10 INVESTMENT ADVISORY BOARD Correspondence & Written Material Item 1 Meeting Date: January 8, 2014 ITFU TITI F- Month End Cash Report — December, 2013 and Pooled Money Investment Board Report for November 2013 BACKGROUND: The December 31, 2013 month end cash report is hereby submitted for your review. This cash report is not a complete Treasury Report and excludes petty cash, deferred compensation and fiscal agent balances. Selected cash balances are reported to provide current cash balances to the Board. In addition, the Pooled Money Investment Board report for November 2013 is included in the agenda packet. RECOMMENDATION: Information item only. 2 0 0 LL U) �2 Q 6 L) 22 w M E 0 a, L) 2 0 04 C, co I- -.T 000000 alqcq�qc:�Oo `0 �2 'c"i cT oa0000c�g v,i r,i 6 cl� c� cc) c� w m o co w w m ML R cIL mt vi cli > c! o c o o o M C� - - - - — 0 Cl ic� IQ op a o m m m c, cf� o� ci cl) Iq w CL ci (D -6 L) (D -L cs! cNL c� q. cc) m c� m cl) clL P-: p- o 2)o w Lo m . LL a) 0-1 =, r-� m c? c a -1 a, u) LL Lr; c? o Lo LL w 06 0 3,5 cl) c; cl! c) o c, o 0:� C� 'o o C� 'D U) LL co aT 2i co t! z-- o o -ca 2 2 S2 cc wE -2 m a < o cl) o - E (D ow �: w . 2 cu m x E o E2 2n 2 ca a) x o Z5 0 E < uw) L) Qm -2 I 'o i>-' m E E E -;5 "�u 'o (D E a. < 2 < !L (D 2; a w o w CD -a, > 2 a) m L) Q� 0- 2 < > :M): �L>) �z I. . Z5 w 6 o a, a, 't m m a < a- L) 6- co - To c=/) 0 �t w I u) Z 0 LL < 0 m < m 16 E > 0 ca ci 0 a) E ca Cli 0 0 Lo cT LL T ca 0 m it, . 0 > c CD cc 16 Z5 :E w Ic a c E c ca C 0 0 0 1 E < 29 ID 0 < �5 E 2- ca 0 & U 0 E CD .0 = < 3: — = �5 :5 0 :� 0 t� 0 Q. (D ID 0 Z5 4, E a, 31 0 0 ca E x w E E 0 11 0 0 0 0 c ol . E 0 �5 0 0 0 0 > O'D :s .2 .F.S 0 Institutional - Announcements, Data & Results Page 1 of 1 TreasuryDirect, Announcements, Data & Results Treasury seils bills, notes, bonds, FRNs, and TIPS at regularly scheduled auctions. Refer to the announc mp_n ;& s re eas .1 mo info, mation. Follow the links below to get the latest c _ ft�_ _M,5jljt�L_pr information on: T 5gc -IiptiAa u ... (PDF) The schedule ofTreasury securities allCtiDns is released at the-freasury's Quarterly Refunding press conference, usually held on the first Wednesday of February, May, August, and November. Click to rind Aod _j_fignaL51ktj5_�i_q� from May 5, 2003 through April 1, 2008, which includes information on bidding by primary dealers, direct bidders, and indirect bidders. Note: The following table displays data for the 20 most recently auctioned securities that have not yet matured, for each security type. If you would like to see data for additional securities, please use our Bills Notes Bonds TI PS FRNs Security Term CUSIP CMB Issue D.t. Makurity Date High Rate 7 Investment Rate 4-Week j 911.279 No 12/26/2013 1 01/23/2014 0.005% 0.005% 13-Week No 12/26/2013 03/27/2014 0.070% 0.071% 0.091% 26-Week 1� 7 2.7 t�,5 !� Pj No 1 12/26/2013 06/26/2014 0.090% 4-Week No 12/19/2013 01/16/2014 0.010% 0.010% 13-Week No 12/19/2013 03/20/2014 0.065% 0.066% 26-Week No 12/19/2013 1 06/19/2014 0.090% 0.091% 4-Week No 12/12,/2013 01/09/2014 0,025% 0.025% 52-Week 91 2)2�QBI No 12/12/2013 12/11/2014 1 0.135% 0.137% 13-Week 26-Week 4-Week 13-Week 26-Week 13-Week q 17 1 1271) 6 . .. ........... . ... 2 T� 6 A IN 279,6D,11. ............. ..... q1279-SCA5 No N. No N o No No 12/12/2013 03/13/2014 0.070% -------- tO6/12/2014 1 12/12/2013 0.095% 12/05/2013 01/02/2014 0.030% 12/05/2013 03/06/2014 1 0.075% 12/05/2013 06/05/2014 0.100% 11/29/2013 02/2712014 0.080%1 0.071% L 0.096% 1 0.030% 1 0.076% 0. 101% O.OL1% 0.107% 26-Week 21?796BYZ No 11/29/2013 05/29/2014 0.105% 13-Week 9_12 1915K 1 No 11/21/2013 02/20/2014 0.080% j O.o81% 26-Week 1_91279�-C.'O I No 11/21/2013 05/22/2014 1 0.100% 0.101% 52-Week No 11/14/2013 11/13/2014 1 0.1350% 0.137% 13-Wee k 2. '�.FY4 No 11/14/20L� j 02/13/2014 0.075% 0.076% 26-Week 91279-SCNn No 1 11/14/2013 05/15/2014 0.0950% 0.096% Select an Application TreasuryDirect Qj?.al.-_jq Agg�!L Upcoming Auctions Research Data Debt to the Penny Mailing Lists nA.r 7!11IP N�.-!! I Savings Bond Rates EE Bonds: I Bond- 0.100/0 1.38% Fixed Rates effective through April 30, 2014. New Rat tes will be posted May 1, 2014. Translate 3 http://www.treasurydirect.gov/instit/annceresult/annceresult.htm 12/26/2013 Institutional - Announcements, Data & Results Page I of I TreasuryDirect, Announcements, Data & Results T ry 1111, 1on15, 111s, and TIPS at re ularly scheduled auctions. Refer to the auction �o, mation. Follow the links below to get the latest rsr r ases for more in information on: (PDF) The schedule ofTreasury securides auctions is released at the Treasury's Quarterly Refunding press conference, usually held on the first Wednesday of February, May, August, and November. u E!inq Aurtjqnu� .V.§Lg_fAL1_QeftajQj R� Click to rind additional sOtistics from May 5, 2003 through April 1, 2008, which includes information on bidding by primary dealers, direct bidders, and indirect bidders. Note: The following table displays data for the 20 most recently auctioned securities that have not yet matured, 'or each security type. If you would like to see data for additional securities, please use our Auction Que . Bills Notes Bonds TIPS FRNs . . . .... ............ . .... .... ._ Security Term CUSIP Reopening Issue Date Maturity Date High Y-teld Interest Rat. No 12/31/2013 12/31/2020 2.385% 2.375% 7-Year 5-Year '91282,RA7; No 12,/31/2013 12/31/2018 1.600% 1.500% 2-Year n t 2&��467 No 12/31/2013 12/31/2015 11/15/2023 0.345% 2.824% 0.2500k 2,750% 10-Year Yes 12/16/2013 3-Year 9.2S28A5- i No 12/16/2013 12/15/2016 0.631% 1 0.625% 7-Year 9128�SA42 No 12/02/2013 11/30/2020 2.106% 2.000% 5-Year No 12/02/2013 11/30/2018 1.340% 1.250% 2-Year 2 S. 213 A 2 6 No -No 12/02/2013 I 11/30/2015 1 0.300% 0.250% 1 10-Year 11/15/2013 11/kl/202�3 2.7509% 2.750% 3-Year --.-2828W�'j No 11/15/2013 11/15/2016 1 0.644% 0.625% 7-Year No 10/31/2013 10/31/2020 1.870% 1.750% 5-Year I 2E �m --) 8 No 10/31/2013 10/31/2018 1.300% 1.250% 2-Year 2.12_Rz_�il.�Ir2 No 10/31/2013 10/31/2015 0.323% 0.250% 10-Year 91281SVS Yes 10/15/2013 08/15/2023 2.657% 2.500% 3-Year 2_12aL�YV�4 No 10/15/2013 _10/15/2016 0.710% 0.625% 7-Year -�12828V:70 No 09/30/2013 09/30/2020 1 2.058% 2.000% ['7 Y;., 09/30/2018 1.436% 1.375% 2-Year 912828VY No 09/30/2013 09/30/2015 I 0.348% 0.250% 10-Year . . ....... Yes .. - 09/16/2013 08/1512023 1 2.9460% 2,500% 3-Year 9j 2828VVi i No 09/16/20�3 09/15/2016 1 0.913% 0.875% Select an Application TreasuryDirect Auction Results Upcoming Auctions Research Data Debt Ito the Penny RSS Feeds Mailing Lists CUSIP Search Enter a CUSIP Number: E3 FE Bonds: I Bonds: 0.100/0 1.38% Fixed Rates effective through April 30, 2014. New Rates will be posted Mav 1. 2014. F-jr .. late. 4 http://www.treasurydirect.gov/instit/annceresult/annceresult.htm 12/26/2013 Institutional - Amouncenients, Data & Results Page I of I -F, IreasuryDirect, Announcements, Data & Results Treasury sells bills, notes, bonds, FRNs, and TIPS at regularly scheduled auctions. Refer to the 3 reigA.$_� for more information. Follow the links below to get the latest information on: T -Ughp.5 (Pl3F) The schedule ofTreasury securities auctions is released at the Treasury's Quarterly Refunding press conference, usually held on the first Wednesday of February, May, August, and November. URco-ing Apqt:i_qaj Click to find iddit-nill stAjjj5tjg,� from May S, 2003 through April 1, 2008, which includes information an bidding by primary dealers, direct bidders, and indirect bidders. Note: The following table displays data for the 20 most recently auctioned securities that have not yet matured, for each security type. If you would like to see data for additional securities, please use our Bills Notes Bonds TIPS FRNs Security Term 30-Year 30-Year CUSIP Reopening Yes No Is. D a tue 12/16/2013 11/15/2013 Maturity Date 11/15/2043 11/15/2043 High Yield 3.900% 3.810% Interest Rate 3750% 3.750% 30-Year Yes 10/15/2013 08/15/2043 3.758% 3.625% 30-Year -12SIORC4 Yes 09/16/2013 08/15/2043 3.820% '1 3.625% 30-Year L, izfL� No 08/15/2013 08/15/2043 3.652% 1 3.625% 30-Year Yes 07/15/2013 05/15/2043 3.660% 2.875% 30-Year Yes 06/17/2013 05/15/2043 3.355% 2.875% 30-Year 18 i qm No 1 05/15/2013 1 05/15/2043 2.980% 2.875% 30-Year Yes 04/15/2013 02/15/2043 2.998% 3.125% 30-Year 91281uQZ4 Yes 03/15/2013 02/15/2043 3.248% -3.125% 30-Year 9! EjC-_,' _4 2. .27 No 02/15/2013 02/15/2043 3.180% 3.125% 30-Year qjs"-jQy7 Y- 01/15/2013 11/15/2042 3.070% 2.750% 30-Year i 00�7 Yes 12/17/2012 11/15/2042 2.917% 2.750% 30-Year 1� 126� oQY7 No 11/15/2012 11/15/2042 2.820% 2.750% 1 30-Year 2 Yes 10/15/2012 08/15/2042 2.904% 2.7509/o 30-Year -- 9128 WQX9 - - Yes 09/17/2012 08/15/2042 2.896% I . . ........ 2.750% 1 ...... 30-Year 2-12.!.J�DQX2 No 08/15/LO12 08/15/2042 2.825% 2.750% 30-Year 912131OQW1 Yes 07/16/2012 05/15/2042 2.580% 3.000% 30-Year 912LI UITC; Yes 06/15/20:12T 05/11/21142 2�12.1. 3.000% 30-Year q1281QQ'vV--- No 05/15/2012 1 05/15/2042 3.090% 3.000% Select an Application -.- - - - -E TreasuryDirect 012 f� A-mg.w. t 7 Auction Results Upcoming Auctions 771 Researcin Data Debt to the Penny RSS Feeds Mailing Lists CUSIP Search r a CUSIP Number: PE Bonds: I Bonds: 0.10010 1.38% Fixed Rates effective through April 30, 2014. New Rates will be posted May 1, 2014, Translate 5 http://wWw.treasurydirect.gov/instit/annceresult/amiceresult.htm 12/26/2013 Printer Version - Board of Governors of the Federal Reserve System Page I of 4 Selected Interest Rates (Daily) - H. 15 Current Release Release Dates Daily Update Historical Data About Announcements Daily Update lkelease.Date: December 24, 2013 The weekly release is posted on Monday. Daily updates of the weekly release are posted Tuesday through Friday on this site. If Monday is a holiday, the weekly release will be posted on Tuesday after the holiday and the daily update will not be posted on that Tuesday. December 24, 2013 Selected Interest Rates Yields in percent per annum Instruments 2013 Dec 23 123 Federal funds (effective) 0.09 Commercial Paper 3 45 6 Nonfinancial 1-month 0.05 2-month 0.08 3-month n.a. Financial 1-month 0.12 2-month 0.12 3-month 0.13 Eurodollar deposits (London) 3 7 1-month 0.20 3-month 0.27 6-month 0.42 Bank prime loan 2 3 8 3.25 Discount window primary credit 2. 9 0.75 U.S. government securities Treasury bills (secondary market) 4 4-week 0.01 6 http://www.federalreserve.gov/releases/Hl5/update/ 12/26/2013 Printer Version - Board of Governors of the Federal Reserve System Page 2 of 4 3-month 0.07 6-month 0.09 1-year 0.13 Treasury constant maturities Nominal 10 1-month 0.01 3-month 0.07 6-month 1-year 0.09 0.14 2-year 0.38 3-year 0.77 5-year 1.68 7-year 2.37 10-year 2.94 20-year 3.60 30-year Inflation indexed 3.85 5-year 0.01 7-year 0.55 10-year 0.76 20-year 1.30 30-year 1.57 Inflation -indexed long-term average 12 1.25 i Interest rate swaps 13 1-year 2-year 0.32 0.47 3-year 0.84 4-year 1.29 5-year 1.72 7-year 2.39 10-year 2.98 30-year 3.79 Corporate bonds Moody's seasoned Aaa 14 4.51 http://www.federalreserve.gov/releases/H15/update/ 12/26/2013 Printer Version - Board of Governors of the Federal Reserve System Page 3 of 4 Baa State & local bonds is 5.29 1 16 1 Conventional mortgages I I n.a. Not available. Footnotes 1. The daily effective federal funds rate is a weighted average of rates on brokered trades. 2. Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures include each calendar day in the month. 3. Annualized using a 360-day year or bank interest. 4. On a discount basis. 5. Interest rates interpolated from data on certain commercial paper trades settled by The Depository Trust Company. The trades represent sales of commercial paper by dealers or direct issuers to investors (that is, the offer side). The 1-, 2-, and 3-month rates are equivalent to the 30-, 60-, and 90-day dates reported on the Board's Commercial Paper Web page (www. federal reserve. Qov/releases/cp/), 6. Financial paper that is insured by the FDIC's Temporary Liquidity Guarantee Program is not excluded from relevant indexes, nor is any financial or nonfinancial commercial paper that may be directly or indirectly affected by one or more of the Federal Reserve's liquidity facilities. Thus the rates published after September 19, 2008, likely reflect the direct or indirect effects of the new temporary programs and, accordingly, likely are not comparable for some purposes to rates published prior to that period. 7. Source: Bloomberg and CTRB ICAP Fixed Income & Money Market Products. 8. Rate posted by a majority of top 25 (by assets in domestic offices) insured U.S.-chartered commercial banks. Prime is one of several base rates used by banks to price short-term business loans. 9. The rate charged for discounts made and advances extended under the Federal Reserve's primary credit discount window program, which became effective January 9, 2003. This rate replaces that for adjustment credit, which was discontinued after January 8, 2003. For further information, see www.federal reserve. (zov��board(loes/press,,bcref,/2002/2002103 12/default.hfin. The rate reported is that for the Federal Reserve Bank of New York. Historical series for the rate on adjustment credit as well as the rate on primary credit are available at N"vw.federalre-�.erve.gov/relea.,:,es/�hl5.t'data.htm. 10. Yields on actively traded non -inflation -indexed issues adjusted to constant maturities. The 30-year Treasury constant maturity series was discontinued on February 18, 2002, and reintroduced on February 9, 2006. From February 18, 2002. to February 9, 2006, the U.S. Treasury published a factor for adjusting the daily nominal 20-year constant maturity in order to estimate a 30-year nominal rate. The historical adjustment factor can be found at Source: U.S. Treasury. 11. Yields on Treasury inflation protected securities (TIPS) adjusted to constant maturities. Source: U.S. Treasury. Additional information on both nominal and inflation -indexed yields may be found at i� ww.tre�tsLj7�.,-)Ovire-.,,Ourcc-cofltcri(litta-cliart� 8 http://www.federalreserve.gov/releases/H 1 5/update/ 12/26/2013 Printer Version - Board of Governors of the Federal Reserve System Page 4 of 4 center.,," interest -rates/. 12. Based on the unweighted average bid yields for all TIPS with remaining terms to maturity of more than 10 years. 13. International Swaps and Derivatives Association (ISDAO) mid -market par swap rates. Rates are for a Fixed Rate Payer in return for receiving three month LIBOR, and are based on rates collected at 11:00 a.m. Eastern time by ICAP plc and published on Thomson Reuters Page ISDAFIX01. ISDAFIX is a registered service mark of ISDA& Source: Thomson Reuters. 14. Moody's Aaa rates through December 6, 2001, are averages of Aaa utility and Aaa industrial bond rates. As of December 7, 200 1, these rates are averages of Aaa industrial bonds only. 15. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thursday quotations. 16. Contract interest rates on commitments for 30-year fixed-rate first mortgages. Source: Primary Mortgage Market Surveye data provided by Freddie Mac. Note: Weekly and monthly figures on this release, as well as annual figures available on the Board's historical H. 15 web site (see below), are averages of business days unless otherwise noted. Current and historical H. 15 data are available on the Federal Reserve Board's web site (www. federal reserve. gov/ . For information about individual copies or subscriptions, contact Publications Services at the Federal Reserve Board (phone 202- 452-3244, fax 202-728-5886). Description of the Treasury Nominal and Inflation -Indexed Constant Maturity Series Yields on Treasury nominal securities at "constant maturity" are interpolated by the U.S. Treasury from the daily yield curve for non -inflation -indexed Treasury securities. This curve, which relates the yield on a security to its time to maturity, is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations obtained by the Federal Reserve Bank of New York. The constant maturity yield values are read from the yield curve at fixed maturities, currently 1, 3, and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years. This method provides a yield for a I 0-year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity. Similarly, yields on inflation- indexed securities at "constant maturity" are interpolated from the daily yield curve for Treasury inflation protected securities in the over-the-counter market. The inflation -indexed constant maturity yields are read from this yield curve at fixed maturities, currently 5, 7, 10, 20, and 30 years. 9 http://www.federalreserve.gov/releasesiHI5/update/ 12/26/2013 POOLED MONEY INVESTMENT ACCOUNT Summary of Investment Data A Comparison of November 2013 with November 2012 (DOLLARS IN THOUSANDS) Novern ber r November 2012 Change Average Daily Portfolio 54,741,194 60,140,520 -5,399,326 Accrued Earnings ($) 11,822 15,993 -4,171 Effective Yield (%) 0.263 0.324 -0.061 Average Life -Month End (in Days) 212 228 -16 Total Security Transactions Amount 18,699,107 18,455,789 +243,318 Number 377 371 +6 Total Time Deposit Transactions Amount 1,031,000 1,670,480 -639,480 Number 69 97 -28 Average Workday Investment Activity 1,096,117 1,059,277 +36,840 Prescribed Demand Account Balances For Services ($) 1,659,653 1,656,083 +3,570 1 10 BILL LOCKYER TREASURER STATE OF CALIFORNIA Investment Division Selected Investment Data Analysis of the Pooled Money Investment Account Portfolio (DOLLARS IN THOUSANDS) TYPE OF SECURITY November 30, 2013 PERCENT 2F AMOUNT PORTFOLIO DIFFERENCE IN PERCENT OF PORTFOLIO FROM PRIOR MONTH Government Bills 13,633,461 24.11 -1.82 Bonds 0 0.00 0 Notes 17,263,897 30.53 +0.33 Strips 0 0.00 0 Total Government 30,897,358 54.64 -1.49 Agency Debentures 1,931,632 3.42 -0.43 Certificates of Deposit 5,975,024 10.57 -1.35 Bank Notes 0 0.00 0 Bankers' Acceptances 0 0.00 0 Repurchases 0 0.00 0 Agency Discount Notes 1,898,267 3.37 -0,15 Time Deposits 4,479,140 7.92 0 GNMAs 0 0.00 0 Commercial Paper 2,224,522 3.93 +1.07 FHLMC/Remics 148,525 0.26 -0.01 Corporate Bonds 0 0.00 0 AB 55 Loans 347,527 0.61 0 GF Loans 8,094,300 14.31 +2.27 NOW Accounts 0 0.00 0 Other 549,880 0.97 +0.09 Reversed Repurchases 0 0.00 0 Total (All Types) 56,546,175 100.00 INVESTMENT ACTIVITY November 2013 October 2013 NUMBER AMOUNTM NUMBER AMOUNT (1) Pooled Money 377 18,699,107 299 14,943,894 Other 29 1,401,547 296 2,387,661 Time Deposits 69 1,031,000 113 2,604,300 Total 475 21,131,654 708 19,935,855 PMIA Monthly Average Effective Yield 0.263 0.266 Year to Date Yield Last Day of Month (%) 0.265 0.265 F, 11 Pooled Money Investment Account Portfolio Composition $56.5 Billion 11/30/13 Commercial F 3.93% Time Deposits 7.92% CDs/BNs 10.57% Loans 14.92% 7.76% Mortgages 0.26% 3 Treasuries 54.64% 12 BOARD MEMBER ITEMS