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02 February 25, 2019 Budget & Implementation Comments are welcomed by the Commission. If you wish to provide comments to the Commission, please complete and submit a Speaker Card to the Clerk of the Board. MEETING AGENDA Budget and Implementation Committee Time: 9:30 a.m. Date: February 25, 2019 Location: BOARD ROOM County of Riverside Administration Center 4080 Lemon St, First Floor, Riverside CA 92501 COMMITTEE MEMBERS Rusty Bailey, Chair/ Andy Melendrez, City of Riverside Linda Krupa, Vice Chair / Russ Brown, City of Hemet Lloyd White / Julio Martinez, City of Beaumont Larry Smith / Jim Hyatt, City of Calimesa Randall Bonner / Jeremy Smith, City of Canyon Lake Mark Carnevale / Raymond Gregory, City of Cathedral City Steven Hernandez / Megan Jacinto, City of Coachella Scott Matas / Russell Betts, City of Desert Hot Springs Bob Magee / Natasha Johnson, City of Lake Elsinore Lisa Middleton / Jon R. Roberts, City of Palm Springs Michael Naggar / Maryann Edwards, City of Temecula Karen Spiegel, County of Riverside, District II Chuck Washington, County of Riverside, District III STAFF Anne Mayer, Executive Director Theresia Trevino, Chief Financial Officer AREAS OF RESPONSIBILITY Annual Budget Development and Oversight Competitive Federal and State Grant Programs Countywide Communications and Outreach Programs Countywide Strategic Plan Legislation Public Communications and Outreach Programs Short Range Transit Plans TO: Riverside County Transportation Commission FROM: Lisa Mobley, Clerk of the Board DATE: February 20, 2019 SUBJECT: G.C. 84308 Compliance – Potential Conflict of Interest California Government Code 84308 states a Commissioner may not participate in any discussion or action concerning a contract or amendment if a campaign contribution of more than $250 is received in the past 12 months or 3 months following the conclusion from a bidder or bidder’s agent. This prohibition does not apply to the awarding of contracts that are competitively bid. The Commission’s procurement division asks potential vendors to disclose any contributions made to the campaigns of any Commissioner as part of their submitted bid packets. As an additional precaution, those entities are included below in an effort to give Commissioners opportunity to review their campaign statements for potential conflicts. Please note the entities listed in this memo are not encompassing of all potential conflicts and are in addition to any personal conflicts of interest such as those disclosed on Statement of Economic Interests – Form 700 or prohibited by Government Code Section 1090. Please contact me should you have any questions. Agenda Item No. 14 – Call Box Program Upgrade/Reduction Plan and Agreements Consultant(s): CASE Systems, Inc. (CASE) Chrisann Lawson, Vice President 5 Goddard Irvine, CA 92618 RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE www.rctc.org AGENDA* *Actions may be taken on any item listed on the agenda 9:30 a.m. Monday, February 25, 2019 BOARD ROOM County of Riverside Administrative Center 4080 Lemon Street, First Floor Riverside, California In compliance with the Brown Act and Government Code Section 54957.5, agenda materials distributed 72 hours prior to the meeting, which are public records relating to open session agenda items, will be available for inspection by members of the public prior to the meeting at the Commission office, 4080 Lemon Street, Third Floor, Riverside, CA, and on the Commission’s website, www.rctc.org. In compliance with the Americans with Disabilities Act, Government Code Section 54954.2, and the Federal Transit Administration Title VI, please contact the Clerk of the Board at (951) 787-7141 if special assistance is needed to participate in a Commission meeting, including accessibility and translation services. Assistance is provided free of charge. Notification of at least 48 hours prior to the meeting time will assist staff in assuring reasonable arrangements can be made to provide assistance at the meeting. 1. CALL TO ORDER 2. ROLL CALL 3. PLEDGE OF ALLEGIANCE 4. PUBLIC COMMENTS – Each individual speaker is limited to speak three (3) continuous minutes or less. The Committee may, either at the direction of the Chair or by majority vote of the Committee, waive this three minute time limitation. Depending on the number of items on the Agenda and the number of speakers, the Chair may, at his/her discretion, reduce the time of each speaker to two (2) continuous minutes. Also, the Committee may terminate public comments if such comments become repetitious. In addition, the maximum time for public comment for any individual item or topic is thirty (30) minutes. Speakers may not yield their time to others without the consent of the Chair. Any written documents to be distributed or presented to the Committee shall be submitted to the Clerk of the Board. This policy applies to Public Comments and comments on Agenda Items. Under the Brown Act, the Board should not take action on or discuss matters raised during public comment portion of the agenda which are not listed on the agenda. Board members may refer such matters to staff for factual information or to be placed on the subsequent agenda for consideration. Budget and Implementation Committee February 25, 2019 Page 2 5. APPROVAL OF MINUTES – NOVEMBER 26, 2018 6. ADDITIONS/REVISIONS (The Committee may add an item to the Agenda after making a finding that there is a need to take immediate action on the item and that the item came to the attention of the Committee subsequent to the posting of the agenda. An action adding an item to the agenda requires 2/3 vote of the Committee. If there are less than 2/3 of the Committee members present, adding an item to the agenda requires a unanimous vote. Added items will be placed for discussion at the end of the agenda.) 7. CONSENT CALENDAR - All matters on the Consent Calendar will be approved in a single motion unless a Commissioner(s) requests separate action on specific item(s). Items pulled from the Consent Calendar will be placed for discussion at the end of the agenda. 7A. QUARTERLY FINANCIAL STATEMENTS Page 1 Overview This item is for the Committee to: 1) Receive and file the Quarterly Financial Statements for the six months ended December 31, 2018; and 2) Forward to the Commission for final action. 7B. SINGLE SIGNATURE AUTHORITY REPORT Page 12 Overview This item is for the Committee to: 1) Receive and file the Single Signature Authority report for the second quarter ended December 31, 2018; and 2) Forward to the Commission for final action. 7C. QUARTERLY INVESTMENT REPORT Page 14 Overview This item is for the Committee to: 1) Receive and file the Quarterly Investment Report for the quarter ended December 31, 2018; and 2) Forward to the Commission for final action. Budget and Implementation Committee February 25, 2019 Page 3 8. FISCAL YEAR 2018/19 MID-YEAR BUDGET ADJUSTMENTS Page 85 Overview This item is for the Committee to: 1) Approve an increase of $10.5 million in Fiscal Year 2018/19 expenditures for mid-year budget adjustments; and 2) Forward to the Commission for final action. 3) 9. INVESTMENT POLICY REVISION Page 87 Overview This item is for the Committee to: 1) Adopt Resolution No. 19-004, “Resolution of the Riverside County Transportation Commission Regarding the Revised Investment Policy”; 2) Adopt the revised annual Investment Policy; and 3) Forward to the Commission for final action. 10. PROPOSED POLICY GOALS AND OBJECTIVES FOR FISCAL YEAR 2019/20 BUDGET Page 102 Overview This item is for the Committee to: 1) Review and approve the proposed Commission Policy Goals and Objectives for the Fiscal Year 2019/20 Budget; 2) Review and approve the Fiscal Accountability Policies for the FY 2019/20 Budget; and 3) Forward to the Commission for final action. 11. STATE AND FEDERAL LEGISLATIVE UPDATE Page 110 Overview This item is for the Committee to: 1) Receive and file an update on state and federal legislation; 2) Adopt RCTC’s Federal Reauthorization Principles; 3) Adopt the following bill position: a) AB 252 (Daly, Frazier); and 4) Forward to the Commission for final action. Budget and Implementation Committee February 25, 2019 Page 4 12. ACTIVE TRANSPORTATION PROGRAM CYCLE 4 – RIVERSIDE COUNTY PROJECT RECOMMENDATIONS FOR METROPOLITAN PLANNING ORGANIZATION REGIONAL PROGRAM Page 114 Overview This item is for the Committee to: 1) Approve the Riverside County Active Transportation Program (ATP) projects for inclusion in the Metropolitan Planning Organization (MPO) ATP Regional Program Cycle 4 consisting of the highest scoring implementation projects in the total amount of $10,612,000; 2) Authorize staff to adjust the amounts to projects in either the ATP or Sustainable Communities Program to maximize available funds in Riverside County; 3) Submit the recommended projects to the Southern California Association of Governments (SCAG) for inclusion in the MPO ATP Regional Program and subsequent submittal to the California Transportation Commission (CTC) for final approval in June 2019; 4) Submit the MPO ATP regional projects to SCAG for inclusion in the Federal Transportation Improvement Program (FTIP) programming; 5) Direct staff to coordinate with the MPO ATP Regional Program project sponsors regarding timely funding allocations, obligations, and project delivery; and 6) Forward to the Commission for final action. 13. LOCAL TRANSPORTATION FUND ADVANCE LOAN TO RIVERSIDE TRANSIT AGENCY Page 121 Overview This item is for the Committee to: 1) Approve a loan to advance Local Transportation Funds (LTF) in the amount of $22 million to Riverside Transit Agency (RTA) under the condition the loan is repaid to the Commission within 14 days of receipt of Federal Transit Administration (FTA) Section 5307 funds; and 2) Forward to the Commission for final action. 14. CALL BOX PROGRAM UPGRADE/REDUCTION PLAN AND AGREEMENTS Page 127 Overview This item is for the Committee to: 1) Approve the implementation of the 2019 Call Box Upgrade and Reduction Plan (CB Plan); Budget and Implementation Committee February 25, 2019 Page 5 2) Approve Agreement No. 19-45-059-00 with San Bernardino County Transportation Authority (SBCTA) to provide for the reimbursement of call answering center (CAC) services related to the operation of call box CAC services associated with the call boxes and future 511 motorist assistance services in an amount not to exceed $180,000; 3) Approve Agreement No. 13-45-102-05, Amendment No. 5 to Agreement No. 13-45-102-00, with CASE Systems, Inc. (CASE) to provide call box removal and upgrade services consistent with the CB Plan and for the continued provision of call box maintenance services through June 30, 2020 for an additional amount of $275,000, and a total amount not to exceed $1,765,440; 4) Approve the sunset of the Call Box Program at the end of Fiscal Year 2023/24 or in conjunction with the next system network upgrade, whichever comes first; 5) Authorize the Executive Director pursuant to legal counsel review, to execute the agreements on behalf of the Commission; and 6) Forward to the Commission for final action. 15. ELECTION OF OFFICERS FOR THE BUDGET AND IMPLEMENTATION COMMITTEE Page 149 Overview This item is for the Budget and Implementation Committee to conduct an election of officers for 2019 – Chair and Vice Chair. 16. ITEM(S) PULLED FROM CONSENT CALENDAR AGENDA 17. COMMISSIONERS / STAFF REPORT Overview This item provides the opportunity for the Commissioners and staff to report on attended and upcoming meeting/conferences and issues related to Commission activities. 18. ADJOURNMENT The next Budget and Implementation Committee meeting is scheduled to be held at 9:30 a.m., Monday, March 25, 2019, Board Chambers, First Floor, County Administrative Center, 4080 Lemon Street, Riverside. AGENDA ITEM 5 MINUTES RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE Monday, November 26, 2018 MINUTES 1. CALL TO ORDER The meeting of the Budget and Implementation Committee was called to order by Chair Rusty Bailey at 9:32 a.m., in the Board Room at the County of Riverside Administrative Center, 4080 Lemon Street, First Floor, Riverside, California, 92501. 2. ROLL CALL Members/Alternates Present Members Absent Rusty Bailey Rick Gibbs Randall Bonner Steven Hernandez Jan Harnik* Michael Naggar Jim Hyatt Greg Pettis Linda Krupa Bob Magee Scott Matas Dana Reed John F. Tavaglione Chuck Washington Lloyd White *Arrived after the meeting was called to order 3. PLEDGE OF ALLEGIANCE Commissioner John Tavaglione led the Budget and Implementation Committee in a flag salute. 4. PUBLIC COMMENTS There were no requests to speak from the public. RCTC Budget and Implementation Committee Minutes November 26, 2018 Page 2 5. APPROVAL OF MINUTES – AUGUST 27, 2018 M/S/C (Reed/Hyatt) to approve the minutes of August 27, 2018 meeting as submitted. 6. ADDITIONS / REVISIONS There were no additions or revisions to the agenda. 7. CONSENT CALENDAR - All matters on the Consent Calendar will be approved in a single motion unless a Commissioner(s) requests separate action on specific item(s). Items pulled from the Consent Calendar will be placed for discussion at the end of the agenda. M/S/C (Washington/Reed) to approve the following Consent Calendar item(s): 7A. QUARTERLY INVESTMENT REPORT 1) Receive and file the Quarterly Investment Report for the quarter ended September 30, 2018; and 2) Forward to the Commission for final action. 8. ANNUAL INVESTMENT POLICY REVIEW Michele Cisneros, Deputy Finance Director, provided details for the revised annual Investment Policy review. At this time, Commissioner Jan Harnik joined the meeting. In response to Commissioner Chuck Washington’s inquiry, Michele Cisneros explained supranational is an entity formed by two or more central governments and provided some institution examples and their credit quality. She stated three of these supranational are Washington D.C. based, which is: the International Bank of Reconstruction and Development, the International Finance Corp., and the Inter-American Development Bank. Commissioner Harnik referred to the supranational and expressed appreciation staff changed the surplus to Commission’s fund. She referred to the first page of the investment policy number III delegation of authority to the sixth midline – director may delegate these duties to his designee and asked to make that gender non-specific. She referred to page 79 – certificates of deposit as it says the maturity of Negotiable Certificates of Deposit (NCDs) shall not exceed 180 days and the change to one year to maturity. She inquired about the reason for what was motivating that change. RCTC Budget and Implementation Committee Minutes November 26, 2018 Page 3 Michele Cisneros replied just to help provide maybe a better yield as the longer you go out a better yield can be received. She is uncertain specifically and staff can reach out to the Commissioners once she receives clarification from Theresia Trevino. Anne Mayer explained based on the questions that were asked staff will include information on those in the agenda item that will go to the December Commission meeting. Commissioner Dana Reed suggested this agenda item is not on the consent calendar at its December Commission meeting so whether it be the Commission’s financial advisor to show the Commission has done their due diligence for protection. M/S/C (Bonner/Hyatt) to: 1) Adopt Resolution No. 18-018, “Resolution of the Riverside County Transportation Commission Regarding the Revised Investment Policy”; 2) Adopt the revised annual Investment Policy; and 3) Forward to the Commission for final action. 9. AMENDMENT TO SUNLINE TRANSIT AGENCY’S FISCAL YEAR 2018/19 SHORT RANGE TRANSIT PLAN Fina Clemente, Transit Manager, presented the details for the amendment to SunLine Transit Agency’s (SunLine) Fiscal Year 2018/19 Short Range Transit Plan. M/S/C (Bonner/Bailey) to: 1) Approve a modification to SunLine Transit Agency’s (SunLine) Fiscal Year 2018/19 operating assistance funding by amending the original amount of $38,900,991 to $39,654,404 to reflect additional operating expenses and revenues for the West Coast Center of Excellence funded with federal Section 5309 pass-through funds from the Center for Transportation and the Environment (CTE), the Buzz Service subsidized by the city of Palm Springs, and personnel costs for eight new full-time employees scheduled to start in January 2019 and funded with additional Local Transportation Funds (LTF); 2) Approve a modification to SunLine’s FY 2018/19 capital improvement program to reflect an additional request of $2,982,000 in LTF to cover capital expenses related to various stations, facilities and building projects, and partial funding to purchase five trolleys for the new Buzz Service; 3) Approve a modification to SunLine’s FY 2018/19 capital improvement program to reflect an increase of $178,239 in FY 2017/18 Federal Transit RCTC Budget and Implementation Committee Minutes November 26, 2018 Page 4 Administration (FTA) Section 5339 funds offset by a decrease of the same amount in State Transit Assistance (STA) funds for the fixed route bus replacement, information technology and transit enhancement projects; 4) Reprogram the STA capital amount of $418,000 originally identified in the FY 2014/15 Short Range Transit Plan (SRTP) for the operator breakroom project to the purchase of five trolleys for the Buzz Service; 5) Approve a $2,982,000 adjustment to the FY 2018/19 budget to increase LTF capital expenditures and a $178,239 adjustment to decrease STA expenditures; 6) Approve an amendment to SunLine’s FY 2018/19 SRTP to reflect these changes; and 7) Forward to the Commission for final action. 10. AGREEMENT FOR AUDIT SERVICES FOR THE TRANSPORTATION DEVELOPMENT ACT TRIENNIAL AUDIT Monica Morales, Management Analyst, provided an overview for the award agreement for audit services for the Transportation Development Act Triennial Audit. M/S/C (White/Bonner) to: 1) Award Agreement No. 19-62-009-00 to Michael Baker International, Inc. for audit services for the Transportation Development Act (TDA) Triennial Audit for a three-year term, plus one two-year option, in an amount not to exceed $220,815; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement on behalf of the Commission; and 3) Forward to the Commission for final action. At this time, Commissioner Bob Magee left the meeting. 11. ITEM(S) PULLED FROM CONSENT CALENDAR AGENDA There were no items pulled from the consent calendar. 12. COMMISSIONERS / EXECUTIVE DIRECTOR REPORT 12A. Anne Mayer announced: • The first weekend of the Festival of Lights commenced and expressed gratitude the Downtown Metrolink station was decorated beautiful. She RCTC Budget and Implementation Committee Minutes November 26, 2018 Page 5 expressed it is exciting to bring so many visitors to the city and county of Riverside to enjoy a special event; and • On December 5th the California Transportation Commission (CTC) will be in Riverside to hold their CTC meeting in the Board Room and there will be a reception at 5:00 p.m. in the Atrium. 12B. Commissioner Reed stated in going through the city of Moreno Valley at least 50 percent of the vehicles in the carpool lane only had a single occupancy driver. He explained when being on the Orange County Commission, state law allowed the Orange County Commission to retain the services of the California Highway Patrol (CHP) to enforce the HOV lanes and they kept half of the fine to pay for the service. He requested if there is anyone’s desire where the Commission can revisit where there would be a funding source to pay for enforcement. Anne Mayer replied that is a regular occurrence for those that come in on other corridors as well. She would suggest at the Commission Workshop to include a discussion about the current use of carpool lanes enforcement issues, current options there are with respect to enforcement, and the longer-term issues with the HOV network in the County. 13. ADJOURNMENT There being no further business for consideration by the Budget and Implementation Committee, the meeting was adjourned at 9:59 a.m. Respectfully submitted, Lisa Mobley Clerk of the Board AGENDA ITEM 7A Agenda Item 7A RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Michele Cisneros, Deputy Director of Finance THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Quarterly Financial Statements STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file the Quarterly Financial Statements for the six months ended December 31, 2018; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: During the first six months of the fiscal year, staff monitored the revenues and expenditures of the Commission. The attached financial statements present the revenues and expenditures for the first six months of the fiscal year. Period closing accrual adjustments are not included for revenues earned but not billed and expenditures incurred for goods and services received but not yet invoiced, as such adjustments are normally made during the year-end closing process. The operating statement shows the sales tax revenues through the second quarter at 37 percent of the budget. This is a result of Governmental Accounting Standards Board (GASB) Statement No. 33, Accounting and Financial Reporting for Nonexchange Transactions. GASB Statement No. 33 requires sales tax revenues to be accrued for the period in which it is collected at the point of destination or sale, as applicable. The California Department of Tax and Fee Administration (CDTFA) collects the Measure A funds and remits these funds to the Commission after the reporting period for the businesses. This creates a two-month lag in the receipt of revenues by the Commission. Accordingly, these financial statements reflect the revenues related to collections through October 2018. On a cash basis, the Measure A and Local Transportation Fund (LTF) sales tax receipts through the second quarter are 9.92 percent and 8.77 percent higher, respectively, than the same period last fiscal year. This is significantly higher than the same period in previous fiscal years and reflects inconsistencies from the first quarter report of Measure A and LTF sales tax receipts at 3.73 and 7.17 percent lower, respectively, than the same period last fiscal year. As reported by staff to the Commission in November 2018, this is a result of the CDTFA implementation of a new centralized revenue opportunity system and resolving the problems and catching up on the 1 Agenda Item 7A unprocessed sales tax returns in the second quarter. Staff is hopeful that the CDTFA has caught up on the unprocessed sales tax returns and the third quarter will reflect normal trends. Staff will continue to monitor the trends in the sales tax receipts and report to the Commission any necessary adjustments. Federal, state, and local reimbursements are generally on a reimbursement basis. The Commission will receive these revenues as eligible project costs are incurred and invoiced to the respective agencies. The negative revenue amounts for federal and state reimbursements reflect the reversal of the FY 2017/18 accrued revenues at the beginning of FY 2018/19 in excess of amounts billed during the first and second quarters. Reimbursement invoices for the expenditures for the second quarter will be prepared and submitted in the third quarter. During the FY 2018/19 budget process, the Commission’s conservative approach estimated the Transportation Uniform Mitigation Fee (TUMF) revenues passed through from the Western Riverside Council of Governments (WRCOG) at $21 million. The Commission received TUMF receipts from July 2018 through October 2018 in the second quarter. The budgeted balance of $1.9 million relates to the TUMF zone reimbursements from WRCOG for the Interstate 15 interchange at Railroad Canyon in the city of Lake Elsinore. Toll revenues budgeted at $32 million represents projected toll transactions for the RCTC 91 Express Lanes operations based on estimated toll transactions and current traffic and revenue data. The operating statement shows toll revenues 73 percent of the budget and toll violations and fee revenues at 92 percent of the budget. The RCTC 91 Express Lanes toll transactions have exceeded initial expectations; accordingly, the Commission’s traffic consultant recently updated the investment grade traffic and revenue study, which will be used in subsequent budgets. The operating statement shows other revenues at 308 percent of the $539,000 budget and reflects the sale of highway property and the reimbursement of property drainage improvements on Commission-owned properties. The Commission took a conservative approach in estimating investment income for FY 2018/19. Investment income is higher primarily as a result of rising investment yields and investment of sales tax revenue bond proceeds. The expenditures/expenses and other financing sources/uses categories are in line overall with the expectations of the budget with the following exceptions: • Professional services are under budget due to unused budget authority for rail operations and development activities, highway general legal services, toll operations, public outreach activities, and audit and sales tax consultant fees; • Support costs are under budget due to unused budget authority for rail operations and commuter assistance advertising and marketing, rail station maintenance, and toll operations; 2 Agenda Item 7A • Program operations are under budget due to unused budget authority for the I-15 Express Lanes, 15/91 Express Lanes Connector, I-15 Express Lanes - southern extension, Pachappa Underpass, and Santa Ana River Trail projects; toll operations; motorist and commuter assistance program operations; highway and rail program management; and station security; • The status of significant Commission capital projects (engineering, construction, design- build, and right of way/land) with budget amounts exceeding $5 million is discussed in the attachment; • Operating and capital disbursements are made as claims are submitted to the Commission by transit operators; • Special studies unused budget authority relates to feasibilities studies; • Local streets and roads expenditures are related to the timing of Measure A sales tax revenues. These financial statements reflect the collections and related turnback payments through October 2018; • Regional arterial expenditures primarily represents expenditures for the highways and regional arterial program administered by Coachella Valley Association of Governments (CVAG). CVAG requests reimbursements from the Commission based on available funds and sufficient budget authority; • Debt service principal payments are made annually on June 1, while debt service interest payments are made semiannually on December 1 and June 1. On a quarterly basis in the RCTC 91 Express Lanes Enterprise Fund accounting records, the Commission records accrued interest including compounded interest on the SR-91 Project Transportation Infrastructure Finance and Innovation Act (TIFIA) loan and the 2013 Toll Revenue Bonds Series B (capital appreciation). However, $10.3 million of the $35.7 million interest cost through the second quarter will not be paid in the current year and therefore is not included in the FY 2018/19 budget; • Payment to escrow agent unused budget authority relates to $20 million of toll-operation surplus revenues to be deposited to the 2013 TIFIA loan reserve fund as required by June 30, 2019, under the TIFIA loan agreement; • Capital outlay expenditures are under budget due to unused budget authority for office and property improvements for the I-15 Express Lanes project; station rehabilitation; toll operations office improvements and transponders; and Commission office, network, hardware, and software improvements; • Depreciation is recorded as part of the accrual adjustments in the RCTC 91 Express Lanes Enterprise Fund accounting records; however, such depreciation is not a cash-related item and therefore is not included in the FY 2018/19 budget; • Loss on sale of land is recorded as part of the RCTC 91 Express Lanes Enterprise Fund accounting records and reflects the loss on sale of excess land purchased for the SR-91 Project. Loss on sale of land is not a cash-related item, and therefore, is not included in the FY 2018/19 budget; and • The Commission entered into a loan agreement with the U.S. Department of Transportation for a $152.2 million TIFIA loan to pay eligible I-15 Express Lanes project costs. Proceeds of the TIFIA loan may be drawn upon after certain conditions have been 3 Agenda Item 7A met. Through the second quarter, the Commission drew down $0 in TIFIA loan proceeds. During construction of the I-15 Express Lanes project and for a period of up to five years following substantial completion, interest is compounded and added to the TIFIA loan. TIFIA debt service payments are expected to commence June 2025, which is approximately five years after substantial completion of the I-15 Express Lanes project, through 2055. Attachments: 1) Quarterly Project Status – December 2018 2) Quarterly Financial Statements – December 2018 4 RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY PROJECT STATUS 2ND QUARTER FOR SIX MONTHS ENDED 12/31/2018 FY 2018/19 BUDGET EXPENDITURES THROUGH 2ND QUARTER Project Description Project Status 91 Project (P003028) $28,758,100 $1,667,362 The Design-Build contract achieved substantial completion on March 20, 2017. The Systems Integration and Implementation Contract retention was released on January 4, 2018. The Commission has remitted all of the $42 million final settlement to the Design-Builder; the only remaining costs are for the plant establishment period. The Certificate of Final Acceptance was issued to the Design-Builder on March 15, 2018. The under run of the FY 2018/19 budget at the second quarter is primarily due to an accrual reversal for the Army Corps of Engineers Reach 9 project ($2 million) and future right of way (ROW) settlement costs that have not yet occurred. The project connects with Orange County Transportation Authority’s tolled express lanes at the Orange County/Riverside County line and continues approximately eight miles to the Interstate (I)-15/State Route (SR)-91 interchange. The project involves widening pavement on the outside of the existing highway to reposition general purpose lanes and repurposing the existing high occupancy vehicle lanes to accommodate two-tolled express lanes in the median in each direction. The 91 Project also involves constructing one new general purpose lane in each direction from SR-71 to I-15, ultimately providing two- tolled express lanes and five general purpose lanes in each direction. 91 Project development activities began in September 2007, construction work related to roadway and structures began in July 2014, and the toll lanes opened in March 2017. The total acquisition and construction cost of the 91 Project is estimated at $1.4 billion, including capitalized interest, debt service reserves, contingency, and cost of issuance. I-15 Express Lanes project (P003027) 152,864,800 39,258,243 The toll services provider (TSP) contract was awarded in January 2017, the Design-Build contract was awarded in April 2017, and the project financing was completed in July 2017. Overall design is approximately 99% complete and construction is approximately 27% complete. The TSP contractor is 32% complete. The construction and maintenance agreement with Burlington Northern Santa Fe Railway was executed on September 28, 2018. Roadway work continued on the Norco and Eastvale segments. Out of the total eleven bridges, two are complete and five are under construction. Out of the total six sound walls, four are complete and two are under construction. The under run of the FY 2018/19 budget at the second quarter is due to under runs in the Design-Build contract ($27 million), the project construction and management (PCM) contract ($3 million), and the TSP contract ($3 million). The project will generally add two tolled express lanes in each direction from SR-60 to Cajalco Road in Corona. Project development activities began in April 2008, and lanes are expected to open to traffic in 2020. The 2017 Base Case estimates the total project cost at $471 million, which includes $42 million of contingency. ATTACHMENT 1 5 FY 2018/19 BUDGET EXPENDITURES THROUGH 2ND QUARTER Project Description Project Status 15/91 Express Lanes Connector (P003039) 55,826,300 8,485,963 In October 2017 the Commission approved an amendment to the existing I-15 Express Lanes project PCM contract for 15/91 ELC project approval and environmental document work. In November 2017 the Commission approved a contract with WSP USA, Inc. for 15/91 ELC project management services. In January 2018 the Commission approved an amendment to the existing I-15 Express Lanes project PCM contract for 15/91 ELC PCM support. From April to June 2018 the Commission approved one amendment and two change orders to the existing Design-Builder contract for preliminary 15/91 ELC design and geotech work. In March 2018 the Commission approved a change order to the existing TSP contract for 15/91 ELC tolling software support. In July 2018 the Commission approved a change order to the existing TSP contract to install lane side equipment on SR-91. In October 2018 the Commission approved a change order for construction at the Hidden Valley Parkway. The under run of the FY 2018/19 budget at the second quarter is due to an under run in the Design-Build contract ($12 million). The 15/91 Express Lane Connector (ELC) project constructs an express lanes median direct connector from southbound I-15 to westbound SR-91 and from eastbound SR-91 to northbound I-15 in the city of Corona. The project also adds tolled-express lanes in each direction of I-15 from the 15/91 ELC to Hidden Valley Parkway; adds a tolled-express lane in each direction of SR-91 from east of Lincoln Avenue to the 15/91 ELC; extends the tolled-express lane along eastbound SR-91 from I-15 to west of Promenade Avenue; and extends eastbound auxiliary lane along SR-91 from west of I-15 to west of Promenade Avenue. The project also includes the addition of a toll collection system infrastructure along I-15 and SR-91. The estimated project cost is $180 million and the project is partially funded by state funds allocated under Senate Bill (SB) 132 legislation. The connector is expected to open to traffic in 2022. I-15 Express Lanes Southern Extension (P003044) 5,061,300 69,561 In September 2017 the Commission approved the allocation of $50 million of 2018 STIP funds to the I-15 Express Lanes Southern Extension Project. In November 2018 a Request for Qualifications was advertised for the completion of Project Approval and Environmental Document. The award of this contract is anticipated in May 2019. The project will add express lanes between SR-74 and Cajalco Road. The estimated project cost is $544 million with the Project Approval and Environmental Document phase of work funded by state funds allocated under SB 1 State Transportation Improvement Program (STIP) funds. 6,000,000 504,972 91 Corridor Operations Project (P623046) The project will construct several operational improvements along the SR-91 including I-15 northbound 91 Express Lanes ingress and SR-91 westbound general purpose lane improvements at the County Line. The estimated project cost is $6 million for environmental and design and $36 million for Construction. Initial project activities are funded by surplus toll revenues. I-15 northbound 91 Express Lanes ingress restriping and the westbound SR-91 restriping at the County line are complete. In December, the Commission approved completing final design and construction of the westbound general purpose lane from the Green River Road on-ramp to SR-241 (91 WB Option 4M). Construction funding allocation by the Commission will be determined in 2019. 6 FY 2018/19 BUDGET EXPENDITURES THROUGH 2ND QUARTER Project Description Project Status Mid County Parkway (P002302, P612302, P002320, & P002317) 35,404,300 2,248,679 The Commission approved the procurement for final design of the I- 215/Placentia Interchange in November 2016 and notice to proceed was issued the same month. Staff continues to work on the approval of the Compensatory Mitigation Plan with the U.S. Army Corps of Engineers. Staff continues the work on the Cultural Landscape Study for cultural resources mitigation. The Commission has acquired most of the mitigation land needed for the project. In July 2018 the Commission approved the procurement for final design of the Sweeney mitigation land. Staff continues to work on identifying the remaining mitigation land needed. Staff continues to work with state and federal agencies on permitting packages for the first construction contract. On June 29, 2018 settlement was reached with plaintiffs challenging the environmental document. In October 2018, the Commission awarded a contract to a construction management firm for the Sweeney mitigation site. The environmental document for a new corridor from I- 215 to SR-79 was approved in April 2015. The first design package is anticipated to be completed in FY 2018/2019. Construction of this new facility will be completed over many years as funding becomes available; the total project cost is estimated at $1.3 to $1.6 billion. Pachappa Underpass project (P003038) 14,453,400 35,019 The Construction and Maintenance Agreement with Union Pacific Railroad (UPRR) was obtained. Preparation of a funding agreement with Caltrans is underway. UPRR may not be able to support the project due to recent staff layoffs. The project will remove the Pachappa shoofly structure and associated retaining walls and construct a retaining wall, drainage, and track bed for the permanent Pachappa underpass. Track relocation will be performed by UPRR. The project construction cost is estimated at $12 million. SR-60 Truck Lanes (P003029) 26,861,200 230,454 On August 16, 2018 the California Transportation Commission approved funding for the project. Caltrans provided all design documents for construction advertisement on September 20, 2018. The project was advertised for construction on October 18, 2018 as scheduled, and bids were received on November 29, 2018. Construction is anticipated to start on March 28, 2019. The selection process for a construction management consultant was completed and approved by the Commission at the December 2018 meeting. The project will construct eastbound climbing and westbound descending truck lanes from Gilman Springs Road to west of Jack Rabbit trail; upgrade existing shoulders to standard widths. The estimated project cost is $138 million and the project is funded by Congestion Mitigation and Air Quality, STIP/Regional Improvement Program, State Highway Operation and Protection Program, and 2009 Measure A highway funds. 71/91 Connector Project (P003021) 9,462,400 331,036 Currently, construction is on hold until a funding source for construction is identified. Staff met with Southern California Association Government’s Transportation Conformity Working Group to confirm the project is not a project of air quality concern. Staff continues to coordinate with Southern California Gas to relocate a high pressure gas line due to a conflict. Staff is also working with the last property owner where permanent rights are required as well as the agencies where temporary rights are required to close out the ROW phase. Burlington Northern Santa Fe Railroad has concurred with the structure design over the railroad for the Green River Road eastbound entrance ramp bridge. The project includes ROW acquisition, utility relocation, and environmental revalidation work for improvements to the 71/91 connector. The estimated project cost is $118 million. 7 FY 2018/19 BUDGET EXPENDITURES THROUGH 2ND QUARTER Project Description Project Status Riverside Layover Facility (P653822) 6,267,600 101,575 The Plan Specification & Estimate is being finalized, incorporating construction manager comments. The final submittal to Southern California Regional Rail Authority (SCRRA) is being prepared for review. The cooperative agreement between the Commission and SCRRA is being finalized. ROW is in the acquisition process. The construction contract is scheduled for advertisement on February 28, 2019, with a limited notice to proceed for procurement of long-lead items expected in June 2019. The project includes increased capacity and maintenance service improvements to Metrolink’s West Layover Facility, north of the Riverside Downtown station. The improvements include expansion of the facility to accommodate three storage tracks with an overall storage capacity of three 6-train sets. The estimated project cost is $5.3 million and the project is funded by Federal Transit Administration Section 5307. This list discusses the significant capital projects (i.e., total budgeted costs in excess of $5 million) and related status. Capital project expenditures are generally affected by lags in invoices submitted by contractors and consultants, as well as issues encountered during certain phases of the projects. The capital projects budgets tend to be based on aggressive project schedules. 8 Revenues Sales tax 304,203,600$ 111,254,126$ (192,949,474)$ 37% Federal reimbursements 59,105,700 26,571,361 (32,534,339)45% State reimbursements 166,590,113 6,363,662 (160,226,451)4% Local reimbursements 24,037,900 959,766 (23,078,134)4% Transportation Uniform Mitigation Fee 22,922,200 10,198,061 (12,724,139)44% Toll revenues 32,046,800 23,541,599 (8,505,201)73% Toll violations and fee revenues 4,893,700 4,481,810 (411,890)92% Other revenues 539,000 1,660,300 1,121,300 308% Investment income 3,408,000 3,405,464 (2,536)100% Total revenues 617,747,013 188,436,149 (429,310,864)31% Expenditures/Expenses Salaries and benefits 10,354,700 5,043,142 5,311,558 49% Professional and support Professional services 20,781,100 4,821,788 15,959,312 23% Support costs 11,794,600 4,468,830 7,325,770 38% Total Professional and support costs 32,575,700 9,290,618 23,285,082 29% Projects and operations Program operations - general 26,736,700 9,068,002 17,668,698 34% Engineering 36,538,500 3,944,797 32,593,703 11% Construction 123,160,800 14,352,956 108,807,844 12% Design Build 185,312,346 46,186,500 139,125,846 25% Right of way/land 93,564,300 5,070,612 88,493,688 5% Operating and capital disbursements 224,360,985 90,492,499 133,868,486 40% Special studies 1,842,000 671,501 1,170,499 36% Local streets and roads 56,951,500 21,025,580 35,925,920 37% Regional arterials 30,547,000 5,573,599 24,973,401 18% Total projects and operations 779,014,131 196,386,046 582,628,085 25% Debt service Principal 25,965,000 - 25,965,000 N/A Interest 50,710,600 35,704,356 15,006,244 70% Payment to escrow agent 20,000,000 - 20,000,000 N/A Total debt service 96,675,600 35,704,356 60,971,244 37% Capital outlay 10,772,417 3,689,428 7,082,989 34% Depreciation - 5,315,327 (5,315,327) N/A Loss on sale of land - 2,224,669 (2,224,669) N/A Total Expenditures/Expenses 929,392,548 257,653,586 671,738,962 28% Excess revenues over (under) expenditures/expenses (311,645,535) (69,217,437) 704,332,665 22% Other financing sources/(uses) Transfer in 182,214,300 61,281,364 (120,932,936) 34% Transfer out (182,214,300) (61,281,364) 120,932,936 34% TIFIA loan proceeds 106,081,000 - (106,081,000) N/A Total financing sources/(uses)106,081,000 - 106,081,000 N/A Net change in fund balances (205,564,535) (69,217,437) 810,413,665 34% Fund balance July 1, 2018 789,451,200 498,270,206 (291,180,994) 63% Fund balance December 31, 2018 583,886,665$ 429,052,769$ 519,232,671$ 73% RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY BUDGET TO ACTUAL FY 2018/19 BUDGET 2ND QUARTER ACTUAL PERCENT UTILIZATION REMAINING BALANCE FOR SIX MONTHS ENDED 12/31/2018 2ND QUARTER ATTACHMENT 2 9 STATE OF GOOD REPAIROTHER AGENCY PROJECTS SB132RevenuesSales tax -$ -$ 53,943,586$ 14,862,576$ 354,580$ 35,594,812$ 4,955,094$ -$ -$ 1,543,478$ -$ -$ Federal reimbursements 22,029 - 25,150,812 - - - - - (91) - - - State reimbursements 999,359 678,550 (30,317) - - - - - - - - 4,716,070 Local reimbursements (104,015) (217,415) 1,045,064 - - - - 307,630 - - (73,487) - Transportation Uniform Mitigation Fee - - - - - - - 10,198,061 - - - - Toll revenues - - - - - - - - - - - - Toll violations and fee revenues - - - - - - - - - - - - Other revenues 7,910 - 1,643,364 - - - - 9,000 - - - - Investment income5,665 1,829 484,014 87,032 - 19,531 170,167 172,133 650 691 114 - Total revenues930,948 462,964 82,236,523 14,949,608 354,580 35,614,343 5,125,261 10,686,824 559 1,544,169 (73,373) 4,716,070 Expenditures/ExpensesSalaries and benefits3,315,111 49,225 1,264,229 - - - - 90,956 3,650 - 15,926 103,382 Professional and support Professional services1,441,960 103,420 1,592,454 3,794 - - 7,034 45,706 357,226 - - 729,640 Support costs2,315,948 54,838 297,540 - - - - 10,429 - - 141 45 Total Professional and support costs3,757,908 158,258 1,889,994 3,794 - - 7,034 56,135 357,226 - 141 729,685 Projects and operationsProgram operations - general1,026,012 1,318,363 2,600,951 - - - - 163,135 - - 33,417 23,092 Engineering- - 872,516 - - - - 1,588,343 - - 136,220 1,347,718 Construction- - 6,326,355 - - - - (47,785) - - - 8,074,386 Design Build- - 38,804,748 - - - - - - - - 7,381,752 Right of way/land- - 4,767,621 - - - - 332,876 - - (29,885) - Operating and capital disbursements 11,997,906 - 3,218,614 2,500,000 - 70,281,427 2,494,552 - - - - - Special studies671,501 - - - - - - - - - - - Local streets and roads- - 15,522,799 5,151,701 351,080 - - - - - - - Regional arterials- - - 5,573,599 - - - - - - - - Total projects and operations13,695,419 1,318,363 72,113,604 13,225,300 351,080 70,281,427 2,494,552 2,036,569 - - 139,752 16,826,948 Debt serviceInterest- - - - - - - - - - - - Total debt service- - - - - - - - - - - - Capital outlay23,854 - 2,547,164 - - - - - - - - - Depreciation- - - - - - - - - - - Loss on sale of land- - - - - - - - - - - Total Expenditures/Expenses20,792,292 1,525,846 77,814,991 13,229,094 351,080 70,281,427 2,501,586 2,183,660 360,876 - 155,819 17,660,015 Excess revenues over (under) expenditures/expenses(19,861,344) (1,062,882) 4,421,532 1,720,514 3,500 (34,667,084) 2,623,675 8,503,164 (360,317) 1,544,169 (229,192) (12,943,945) Other financing sources/(uses)Transfer in18,974,348 3,600,000 2,721,049 - - 1,170,000 - 38,098 - - - - Transfer out(1,625,100) (3,685,300) (37,659,784) (261,300) (13,800) (15,612,648) (59,700) (114,800) (32,400) - - (469,900) Total financing sources/(uses)17,349,248 (85,300) (34,938,735) (261,300) (13,800) (14,442,648) (59,700) (76,702) (32,400) - - (469,900) Net change in fund balances(2,512,096) (1,148,182) (30,517,203) 1,459,214 (10,300) (49,109,732) 2,563,975 8,426,462 (392,717) 1,544,169 (229,192) (13,413,845) Fund balance July 1, 201826,040,494 9,238,957 276,997,302 52,068,076 557 110,435,854 91,842,733 78,409,987 3,266,323 - 3,142 (268,754) Fund balance December 31, 201823,528,398$ 8,090,775$ 246,480,099$ 53,527,290$ (9,743)$ 61,326,122$ 94,406,708$ 86,836,449$ 2,873,606$ 1,544,169$ (226,050)$ (13,682,599)$ GENERAL FUNDFSP/SAFEWESTERN COUNTYPALO VERDE VALLEYCOACHELLA VALLEYRIVERSIDE COUNTY TRANSPORTATION COMMISSIONQUARTERLY BUDGET TO ACTUAL BY FUND2ND QUARTERFOR SIX MONTHS ENDED 12/31/2018COACHELLA VALLEY RAILSTATE TRANSIT ASSISTANCELOCAL TRANSPORTATION FUNDSPECIAL REVENUE FUNDSMEASURE A SALES TAXTRANSPORTATION UNIFORM MITIGATION FEE (TUMF)TRANSPORTATION DEVELOPMENT ACT10 RevenuesSales taxFederal reimbursementsState reimbursementsLocal reimbursementsTransportation Uniform Mitigation FeeToll revenuesToll violations and fee revenuesOther revenuesInvestment incomeTotal revenuesExpenditures/ExpensesSalaries and benefitsProfessional and support Professional servicesSupport costsTotal Professional and support costsProjects and operationsProgram operations - generalEngineeringConstructionDesign BuildRight of way/landOperating and capital disbursementsSpecial studiesLocal streets and roadsRegional arterialsTotal projects and operationsDebt serviceInterestTotal debt serviceCapital outlayDepreciationLoss on sale of landTotal Expenditures/ExpensesExcess revenues over (under) expenditures/expensesOther financing sources/(uses)Transfer inTransfer outTotal financing sources/(uses)Net change in fund balancesFund balance July 1, 2018Fund balance December 31, 2018ENTERPRISE FUNDTOLL OPERATIONS-$ -$ -$ -$ 111,254,126$ - - - 1,398,611 26,571,361 - - - - 6,363,662 1,989 - - - 959,766 - - - - 10,198,061 23,541,599 - - - 23,541,599 4,481,810 - - - 4,481,810 26 - - - 1,660,300 596,521 655,749 1,087,955 123,413 3,405,464 28,621,945 655,749 1,087,955 1,522,024 188,436,149 200,663 - - - 5,043,142 540,554 - - - 4,821,788 1,789,889 - - - 4,468,830 2,330,443 - - - 9,290,618 3,903,032 - - - 9,068,002 - - - - 3,944,797 - - - - 14,352,956 - - - - 46,186,500 - - - - 5,070,612 - - - - 90,492,499 - - - - 671,501 - - - - 21,025,580 - - - - 5,573,599 3,903,032 - - - 196,386,046 13,908,987 - - 21,795,369 35,704,356 13,908,987 - - 21,795,369 35,704,356 1,118,410 - - - 3,689,428 5,315,327 - - - 5,315,327 2,224,669 - - - 2,224,669 29,001,531 - - 21,795,369 257,653,586 (379,586) 655,749 1,087,955 (20,273,345) (69,217,437) - - - 34,777,869 61,281,364 (299,200) - (48,821) (1,398,611) (61,281,364) (299,200) - (48,821) 33,379,258 - (678,786) 655,749 1,039,134 13,105,913 (69,217,437) (277,767,334) 21,576,316 95,343,644 11,082,909 498,270,206 (278,446,120)$ 22,232,065$ 96,382,778$ 24,188,822$ 429,052,769$ COMMERCIAL PAPERRIVERSIDE COUNTY TRANSPORTATION COMMISSIONQUARTERLY BUDGET TO ACTUAL BY FUND2ND QUARTERFOR SIX MONTHS ENDED 12/31/2018SALES TAX BONDSDEBT SERVICE COMBINED TOTALCAPITAL PROJECTS FUNDS11 AGENDA ITEM 7B Agenda item 7B RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Jose Mendoza, Procurement Analyst Matt Wallace, Procurement Manager THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Single Signature Authority Report STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file the Single Signature Authority report for the second quarter ended December 31, 2018; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: Certain contracts are executed under single signature authority as permitted in the Commission’s Procurement Policy Manual adopted in June 2018. The Executive Director is authorized to sign services contracts that are less than $150,000 individually and in an aggregate amount not to exceed $1.5 million in any given fiscal year. Additionally, in accordance with Public Utilities Code Section 130323(c), the Executive Director is authorized to sign contracts for supplies, equipment, materials, and construction of all facilities and works under $50,000 individually. The attached report details all contracts that have been executed for the second quarter ended December 31, 2018, under the single signature authority granted to the Executive Director. The unused capacity of single signature authority for services at December 31, 2018 is $1,278,206. Attachment: Single Signature Authority Report as of December 31, 2018 12 CONSULTANTDESCRIPTION OF SERVICESORIGINAL CONTRACT AMOUNTPAID AMOUNTREMAINING CONTRACT AMOUNTAMOUNT AVAILABLE July 1, 2018$1,500,000.00NetFileForm 700 E-filing and administration system15,000.00 0.00 15,000.00ECS Imaging, Inc.Laserfiche document management services44,794.00 22,044.00 22,750.00S2 Engineering, Inc.Construction Management Svcs. - La Sierra Parking Lot Expansion Project150,000.00144,069.065,930.94Potter Handy DBA Center for Disability Settlement agreement12,000.0012,000.000.00AMOUNT USED221,794.00221,794.00$1,278,206.00None N/A $- $- $- Jose MendozaTheresia TrevinoPrepared byReviewed byAMOUNT USEDSINGLE SIGNATURE AUTHORITYAS OF December 31, 2018Note: Shaded area represents new contracts listed in the second quarter.AMOUNT REMAINING through December 31, 2018Agreements that fall under Public Utilities Code 130323 (C)13 AGENDA ITEM 7C Agenda Item 7C RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Megan Kavand, Senior Financial Analyst Michele Cisneros, Deputy Finance Director THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Quarterly Investment Report STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file the Quarterly Investment Report for the quarter ended December 31, 2018; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: Prior to Fiscal Year 2013/14, the Commission’s quarterly investment reports reflected investments primarily concentrated in the Riverside County Pooled Investment Fund. Other investments included the state Local Agency Investment Fund and mutual funds. As a result of significant project financings such as the State Route 91 Corridor Improvement Project (91 Project or 91 CIP) and the Interstate 15 Express Lanes Project (I-15 ELP), the Commission determined it would be prudent to engage an investment manager for the bond proceeds and other required funds. Additionally, the Commission desired to engage an investment manager to provide investment advisory and management services related to the Commission’s operating funds. In May 2013, following a competitive procurement, the Commission awarded two investment management services agreements to Logan Circle Partners, L.P. (Logan) for the 91 Project’s proceeds generated from the issuance of sales tax revenue bonds and toll revenue bonds and to Payden & Rygel Investment Management (Payden & Rygel) for Commission operating funds. At its April 2017 meeting and based on a competitive procurement, the Commission awarded an investment management services agreement to Logan related to the issuance of the sales tax revenue bonds for the I-15 ELP. Commencing in July 2013, Logan invested the 91 Project debt proceeds and subsequent 91 Project equity contributions in separate accounts of the Short-Term Actively Managed Program (STAMP). Consistent with financing expectations, the Commission expended substantially all of the 91 Project debt proceeds and equity contributions, except for the toll 14 Agenda Item 7C revenue bonds debt service reserve, and subsequent to commencement of operations, established other required accounts. The Commission authorized Payden & Rygel to make specific investments for the Commission’s operating funds beginning with the third quarter of FY 2014/15. In July 2017, the I-15 ELP project and 91 Project completion financing (2017 Financing) was completed and sales tax bond proceeds approximating $154.6 million were received. Logan invested the 2017 Financing debt proceeds in accounts of a separate STAMP portfolio during the first quarter of FY 2017/18. The quarterly investment report for the second quarter of FY 2018/19, as required by state law and Commission policy, reflects the investment activities resulting from the 91 Project, 2017 Financing, and available operating cash. The quarterly investment report includes the following information: • Investment Portfolio Report; • 91 CIP STAMP Portfolio by Investment Category; • 91 CIP STAMP Portfolio by Account; • 91 CIP STAMP Portfolio Transaction Report by Account; • 91 CIP STAMP Portfolio Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 91 CIP STAMP Portfolio Toll Revenue Series A & Series B Reserve Fund Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 91 CIP STAMP Portfolio Residual Fund Required Retained Balance Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 2017 Financing STAMP Portfolio by Investment Category; • 2017 Financing STAMP Portfolio by Account; • 2017 Financing STAMP Portfolio Transaction Report by Account; • 2017 Financing STAMP Portfolio Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 2017 Financing STAMP Portfolio I-15 ELP Sales Tax Senior Lien TIFIA Project Fund Summary of investment by credit rating, industry group, asset class, security type, and market sector; • 2017 Financing STAMP Portfolio Ramp Up Fund Summary of investment by credit rating, industry group, asset class, security type, and market sector; • Logan Circle Partners, L.P. Short Duration Fourth Quarter 2018 Review; • Payden & Rygel Operating Portfolio by Investment Category; • Payden & Rygel Operating Portfolio Transaction Report; • Payden & Rygel Operating Portfolio Fourth Quarter 2018 Review; and • County of Riverside Investment Report for the Quarter Ended December 31, 2018. The Commission’s investments were in full compliance with the Commission’s investment policy adopted on December 12, 2018, and investments securities permitted under the indenture for 15 Agenda Item 7C the Commission’s sales tax revenue bonds and the master indentures for the Commission’s toll revenue bonds. Additionally, the Commission has adequate cash flows for the next six months. Attachments: 1) Investment Portfolio Report 2) 91 CIP STAMP Portfolio by Investment Category 3) 91 CIP STAMP Portfolio by Account 4) 91 CIP STAMP Portfolio Transaction Report by Account 5) 91 CIP STAMP Portfolio Summary of Investments 6) 91 CIP STAMP Portfolio Toll Revenue Series A & Series B Reserve Fund Summary of Investments 7) 91 CIP STAMP Portfolio Residual Fund Required Retained Balance Summary of investments 8) 2017 Financing STAMP Portfolio by Investment Category 9) 2017 Financing STAMP Portfolio by Account 10) 2017 Financing STAMP Portfolio Transaction Report by Account 11) 2017 Financing STAMP Portfolio Summary of Investments 12) 2017 Financing STAMP Portfolio I-15 ELP Sales Tax Senior Lien TIFIA Project Fund Summary of Investments 13) 2017 Financing STAMP Portfolio Ramp Up Fund Summary of Investments 14) Payden & Rygel Operating Portfolio by Investment Category 15) Payden & Rygel Operating Portfolio Transaction Report 16) Logan Circle Partners, L.P. Short Duration Quarterly Review 17) Payden & Rygel Operating Portfolio Quarterly Review 18) County of Riverside Investment Report 16 Riverside County Transportation Commission Investment Portfolio Report Period Ended: December 31, 2018 FAIR VALUE RATING MOODYS / S&P COUPON RATE PAR VALUE PURCHASE DATE MATURITY DATE YIELD TO MATURITY PURCHASE COST MARKET VALUE UNREALIZED GAIN (LOSS) OPERATING FUNDS City National Bank Deposits 12,222,344 A3/BBB+N/A N/A County Treasurer's Pooled Investment Fund 454,165,232 Aaa-bf/AAA-V1 N/A 2.18% Local Agency Investment Fund (LAIF)3,754,293 N/A N/A N/A Subtotal Operating Funds 470,141,870 FUNDS HELD IN TRUST County Treasurer's Pooled Investment Fund: Local Transportation Fund 61,859,700 Aaa-bf/AAA-V1 N/A 2.18% Subtotal Funds Held in Trust 61,859,700 COMMISSION MANAGED PORTFOLIO US Bank Payden & Rygel Operating 51,706,218 First American Government Obligation Fund 23,772,042 N/A N/A N/A Subtotal Commission Managed Portfolio 75,478,260 STAMP PORTFOLIO for 91 CIP Series A & Series B Reserve Fund 18,102,441 Residual Fund Required Retained Balance 13,813,941 Subtotal STAMP Portfolio - 91 CIP 31,916,382 STAMP PORTFOLIO for 2017 Financing Sales Tax I15 ELP Project Revenue Fund 75,980,096 Sales Tax Revenue Fund - Ramp Up Fund 8,039,480 Subtotal STAMP Portfolio - 2017 Financing 84,019,576 TOTAL All Cash and Investments 723,415,788$ See attached report for details See attached report for details See attached report for details See attached report for details See attached report for details See attached report for details 2.50% 10.50% 3.29% 10.43%8.55% 64.99% $- $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 $300,000,000 $350,000,000 $400,000,000 $450,000,000 $500,000,000 STAMP Portfolio for 91 CIP Reserve STAMP Portfolio for 91 CIP Residual Fund STAMP Portfolio for 2017 Financing I15 ELP Project Revenue Fund STAMP Portfolio for 2017 Financing Revenue Fund STAMP Portfolio for 2017 Financing Ramp Up Fund Commission Managed Portfolio Trust Funds Operating Funds Nature of Investments 3.29% Mutual Funds 73.02% County Pool/Cash 0.52% LAIF 22.70% Fixed Income 0.47% Money Market Funds ATTACHMENT 1 17 Page 2 of 34 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 Agency Federal Home Loan Mortgage Corporation 01/13/2022 ---950,000.00 942,921.50 ---946,219.00 (3,473.24)2.375 2.512 AAA 256350023 LC-Sr Lien Reserve Fund-1 3135G0D75 Agency Federal National Mortgage Association, Inc.06/22/2020 05/06/2015 600,000.00 593,490.00 ---591,222.00 (6,847.83)1.500 2.516 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137EADR7 Agency Federal Home Loan Mortgage Corporation 05/01/2020 05/15/2015 475,000.00 471,527.75 ---467,666.00 (6,375.24)1.375 2.560 AAA 256350023 LC-Sr Lien Reserve Fund-1 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 200,000.00 200,100.00 02/23/2019 200,064.00 64.00 3.000 2.748 AAA 256350023 LC-Sr Lien Reserve Fund-1 3134G9V38 Agency Federal Home Loan Mortgage Corporation 07/27/2021 08/28/2018 250,000.00 245,225.00 01/27/2019 247,230.00 1,443.50 1.500 2.539 AAA 256350021 LC-RCTC 2013 Residual Fund 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 100,000.00 100,050.00 02/23/2019 100,032.00 32.00 3.000 2.748 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A72D3 Agency CMO Federal National Mortgage Association, Inc.04/25/2022 07/03/2013 316,675.32 300,841.56 ---313,565.57 2,327.81 2.482 2.949 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 07/03/2013 82,239.59 80,366.71 ---81,420.48 (397.70)1.459 3.032 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2022 ---379,000.00 366,344.03 ---373,364.27 (495.25)2.396 2.825 AAA 256350023 LC-Sr Lien Reserve Fund-1 31395EZP5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2019 07/09/2013 3,205.37 3,391.18 ---3,204.99 (13.33)4.500 3.509 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377JZ89 Agency CMO The Government National Mortgage Association Guarante 10/20/2039 07/05/2013 51,863.90 53,450.21 ---52,417.81 (483.80)3.500 2.948 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 Agency CMO The Government National Mortgage Association Guarante 04/20/2039 ---114,938.88 117,232.02 ---114,767.63 (1,595.78)3.000 3.015 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378TAF7 Agency CMO The Government National Mortgage Association Guarante 07/20/2041 07/05/2013 130,787.93 130,807.65 ---129,312.64 (1,352.32)2.500 2.886 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378CRT6 Agency CMO The Government National Mortgage Association Guarante 10/20/2040 05/22/2014 51,895.18 50,111.28 ---50,486.75 54.74 2.000 2.924 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376GB33 Agency CMO The Government National Mortgage Association Guarante 10/16/2044 01/23/2015 126,290.61 129,632.93 ---126,149.17 (724.39)3.500 3.422 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376T5Z1 Agency CMO The Government National Mortgage Association Guarante 01/16/2039 01/26/2015 80,542.01 84,146.27 ---80,275.42 (2,795.88)3.000 3.100 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 Agency CMO The Government National Mortgage Association Guarante 10/20/2039 ---231,537.33 237,333.69 ---241,680.98 3,724.61 4.000 2.499 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377RSZ9 Agency CMO The Government National Mortgage Association Guarante 06/16/2039 ---58,615.57 60,455.44 ---59,390.47 (255.39)4.500 2.556 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B7F0 Agency CMO Government National Mortgage Association 12/16/2042 ---450,000.00 427,324.22 ---414,508.50 (21,513.87)2.273 4.062 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AJMF8 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2021 08/05/2015 29,667.99 30,694.78 ---29,714.87 (379.67)2.968 2.838 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ATRW4 Agency CMO Federal Home Loan Mortgage Corporation 05/25/2022 ---282,110.00 278,085.13 ---277,971.45 (628.92)2.373 2.808 AAA 256350023 LC-Sr Lien Reserve Fund-1 38380AZ34 Agency CMO The Government National Mortgage Association Guarante 04/20/2046 11/28/2016 145,356.04 149,427.15 ---144,613.27 (4,280.94)3.000 3.087 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AXHP1 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2022 09/29/2017 140,000.00 142,089.06 ---138,454.40 (3,061.73)2.573 2.858 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137A5FP4 Agency CMO Federal Home Loan Mortgage Corporation 01/15/2021 ---106,052.34 106,064.34 ---105,440.42 (571.90)2.500 2.878 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378CDK0 Agency CMO The Government National Mortgage Association Guarante 03/20/2035 03/16/2018 23,481.00 23,591.07 ---23,466.91 (76.49)3.000 2.892 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377LQT8 Agency CMO The Government National Mortgage Association Guarante 12/20/2037 ---26,622.20 26,631.72 ---26,614.21 13.86 3.000 2.693 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378AWX5 Agency CMO The Government National Mortgage Association Guarante 01/20/2036 03/28/2018 92,050.26 92,546.47 ---92,085.24 (300.01)3.000 2.835 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378DDC6 Agency CMO The Government National Mortgage Association Guarante 04/20/2038 06/20/2018 139,049.00 139,988.67 ---139,361.86 (362.60)3.500 2.994 AAA 256350023 LC-Sr Lien Reserve Fund-1 31398QTP2 Agency CMO Federal Home Loan Mortgage Corporation 05/15/2038 06/26/2018 83,962.78 85,605.96 ---85,274.28 251.93 4.500 2.304 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377WL77 Agency CMO Government National Mortgage Association 01/20/2039 08/28/2018 13,399.84 13,341.21 ---13,375.58 31.15 2.000 2.977 AAA 256350023 LC-Sr Lien Reserve Fund-1 38375KCX8 Agency CMO Government National Mortgage Association 01/20/2037 09/18/2018 37,550.45 37,826.21 ---37,669.86 (49.34)5.500 3.293 AAA 256350023 LC-Sr Lien Reserve Fund-1 38379HLE3 Agency CMO The Government National Mortgage Association Guarante 05/20/2043 10/18/2018 123,136.05 122,962.89 ---125,042.20 2,091.33 3.500 2.774 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377F2N0 Agency CMO The Government National Mortgage Association Guarante 06/20/2038 09/28/2018 9,125.77 9,110.09 ---9,116.10 8.69 3.000 2.799 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378VC45 Agency CMO The Government National Mortgage Association Guarante 12/16/2041 11/23/2018 159,341.34 153,590.12 ---155,305.22 1,759.24 2.250 3.097 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377JM59 Agency CMO The Government National Mortgage Association Guarante 10/20/2039 11/21/2018 92,011.28 89,710.99 ---90,027.52 322.81 2.500 3.451 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A1LC5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2020 01/17/2018 12,612.27 12,570.88 ---12,534.45 (44.37)2.000 3.067 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A5FP4 Agency CMO Federal Home Loan Mortgage Corporation 01/15/2021 01/30/2018 37,911.63 38,006.41 ---37,692.88 (274.67)2.500 2.878 AAA 256350021 LC-RCTC 2013 Residual Fund 38378CDK0 Agency CMO The Government National Mortgage Association Guarante 03/20/2035 01/30/2018 42,265.81 42,655.44 ---42,240.45 (256.03)3.000 2.892 AAA 256350021 LC-RCTC 2013 Residual Fund 38378AWX5 Agency CMO The Government National Mortgage Association Guarante 01/20/2036 01/30/2018 30,683.42 30,980.66 ---30,695.08 (191.18)3.000 2.835 AAA 256350021 LC-RCTC 2013 Residual Fund 3137APP53 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2020 05/18/2018 10,498.74 10,369.55 ---10,395.43 (7.63)1.781 2.991 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A1N90 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2020 06/26/2018 65,000.00 65,594.14 ---65,336.05 (59.46)3.531 2.978 AAA 256350021 LC-RCTC 2013 Residual Fund 31397LUK3 Agency CMO Federal National Mortgage Association, Inc.06/25/2023 10/10/2018 200,000.00 204,031.25 ---203,890.00 453.43 4.500 2.893 AAA 256350023 LC-Sr Lien Reserve Fund-1 31417YKF3 Agency MBS Federal National Mortgage Association, Inc.01/01/2030 07/10/2013 71,609.96 75,548.51 ---74,376.26 (848.61)4.500 3.199 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381PEB0 Agency MBS Federal National Mortgage Association, Inc.11/01/2020 09/26/2014 250,963.45 264,256.67 ---253,207.06 (1,019.16)3.370 2.694 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KXW4 Agency MBS The Government National Mortgage Association Guarante 02/16/2037 12/11/2014 112,163.75 111,620.45 ---108,770.79 (3,153.42)1.705 4.113 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B6A2 Agency MBS Government National Mortgage Association 11/16/2052 01/22/2015 114,421.95 110,814.97 ---106,435.29 (5,909.58)1.826 4.249 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 Agency MBS The Government National Mortgage Association Guarante 12/16/2046 ---425,000.00 415,829.11 ---393,329.00 (25,042.94)2.811 3.927 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KRS0 Agency MBS The Government National Mortgage Association Guarante 07/16/2043 05/08/2015 450,000.00 434,460.94 ---423,904.50 (17,313.88)2.389 3.938 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378XP62 Agency MBS The Government National Mortgage Association Guarante 05/16/2055 05/14/2015 291,921.25 295,524.65 ---282,997.21 (11,821.02)2.500 3.212 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 Agency MBS The Government National Mortgage Association Guarante 11/16/2041 ---128,721.38 122,773.05 ---121,205.34 (2,955.41)1.400 4.274 AAA 256350023 LC-Sr Lien Reserve Fund-1 38379KDN5 Agency MBS Government National Mortgage Association 09/16/2055 08/05/2015 162,421.77 158,272.40 ---151,565.50 (8,865.80)2.119 4.018 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138L33G8 Agency MBS Federal National Mortgage Association, Inc.06/01/2020 11/12/2015 100,000.00 99,875.00 ---98,638.00 (1,203.82)2.010 2.872 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381Q6B7 Agency MBS Federal National Mortgage Association, Inc.06/01/2021 07/15/2016 183,745.02 203,784.72 ---189,516.46 (4,323.76)4.295 2.840 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A7MN9 Agency MBS Federal National Mortgage Association, Inc.05/25/2022 08/29/2016 300,000.00 308,578.13 ---295,512.00 (8,955.96)2.349 2.998 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137B1U75 Agency MBS Federal Home Loan Mortgage Corporation 01/25/2023 08/29/2016 380,000.00 394,917.97 ---374,585.00 (14,206.27)2.522 2.923 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138EJPZ5 Agency MBS Federal National Mortgage Association, Inc.07/01/2022 08/29/2016 273,111.63 290,085.09 ---273,297.35 (10,145.52)2.973 2.989 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381T4E7 Agency MBS Federal National Mortgage Association, Inc.03/01/2022 10/25/2016 261,468.81 273,183.85 ---260,067.34 (7,518.64)2.670 2.878 AAA 256350023 LC-Sr Lien Reserve Fund-1 36202F2H8 Agency MBS Ginnie Mae II 01/20/2027 ---176,385.19 181,802.41 ---176,501.61 (4,744.04)3.000 2.938 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136AHAE0 Agency MBS Federal National Mortgage Association, Inc.04/25/2023 10/28/2016 116,482.18 118,993.83 ---116,059.35 (2,478.29)2.637 2.953 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 Agency MBS Federal National Mortgage Association, Inc.03/01/2023 ---277,251.21 273,310.22 ---273,433.46 (552.15)2.350 2.798 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136AC7J4 Agency MBS Federal National Mortgage Association, Inc.03/25/2023 02/21/2018 51,115.13 50,274.53 ---50,732.27 315.73 2.520 2.943 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381R5T7 Agency MBS Federal National Mortgage Association, Inc.09/01/2021 08/29/2018 130,000.00 132,747.27 ---132,672.80 250.00 3.770 2.909 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138NJAE8 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 09/13/2018 22,413.08 22,672.24 ---22,740.54 52.75 3.630 2.693 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381N7G2 Agency MBS Federal National Mortgage Association, Inc.10/01/2020 09/25/2018 18,217.54 18,284.44 ---18,296.42 (40.38)3.270 2.918 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381QB54 Agency MBS Federal National Mortgage Association, Inc.03/01/2021 11/07/2018 131,697.68 134,424.24 ---135,631.49 1,380.94 4.410 2.684 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381PTG3 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 11/08/2018 44,171.39 44,582.04 ---44,939.97 389.99 3.800 2.608 AAA 256350021 LC-RCTC 2013 Residual Fund 31416BVR6 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 01/17/2018 38,789.27 39,662.03 ---39,465.37 130.03 5.000 1.802 AAA 256350021 LC-RCTC 2013 Residual Fund 3137B1UF7 Agency MBS Federal Home Loan Mortgage Corporation 09/25/2022 01/25/2018 17,884.29 17,621.62 ---17,565.95 (98.70)1.785 2.748 AAA 256350021 LC-RCTC 2013 Residual Fund 3137AXHN6 Agency MBS Federal Home Loan Mortgage Corporation 02/25/2022 01/25/2018 31,553.71 31,119.85 ---31,009.09 (188.98)1.749 2.786 AAA 256350021 LC-RCTC 2013 Residual Fund 3137AWQG3 Agency MBS Federal Home Loan Mortgage Corporation 04/25/2022 01/30/2018 36,907.81 36,129.29 ---36,157.48 (119.33)1.583 2.747 AAA 256350021 LC-RCTC 2013 Residual Fund 3137B2GW4 Agency MBS Federal Home Loan Mortgage Corporation 03/25/2020 06/29/2018 97,521.76 96,889.39 ---96,808.87 (228.98)2.313 2.891 AAA 256350021 LC-RCTC 2013 Residual Fund 31381RZ23 Agency MBS Federal National Mortgage Association, Inc.08/01/2021 11/02/2018 61,529.49 62,442.82 ---62,813.00 422.41 3.840 2.871 AAA 91 CIP STAMP Portfolio by Investment Category for quarter ended December 31, 2018 ATTACHMENT 2 18 Page 3 of 34 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating 91 CIP STAMP Portfolio by Investment Category for quarter ended December 31, 2018 256350021 LC-RCTC 2013 Residual Fund 31381RLL6 Agency MBS Federal National Mortgage Association, Inc.07/01/2021 11/02/2018 53,293.35 54,084.43 ---54,617.69 580.60 3.840 2.595 AAA 256350021 LC-RCTC 2013 Residual Fund 31381PTG3 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 11/08/2018 66,257.07 66,873.06 ---67,409.94 584.99 3.800 2.608 AAA 256350021 LC-RCTC 2013 Residual Fund 31381QB54 Agency MBS Federal National Mortgage Association, Inc.03/01/2021 11/07/2018 100,968.23 103,058.59 ---103,984.15 1,058.72 4.410 2.684 AAA 256350021 LC-RCTC 2013 Residual Fund 3138L2GH4 Agency MBS Federal National Mortgage Association, Inc.07/01/2021 12/19/2018 92,521.66 90,006.24 ---90,496.36 470.66 1.870 2.983 AAA 256350021 LC-RCTC 2013 Residual Fund 02582JGN4 Asset Backed American Express Credit Account Master Trust 05/15/2019 01/16/2018 100,000.00 100,351.56 ---100,065.00 (156.64)2.825 2.722 AAA 256350021 LC-RCTC 2013 Residual Fund 161571FK5 Asset Backed Chase Issuance Trust 08/15/2019 01/25/2018 115,000.00 113,827.54 ---114,063.90 (459.81)1.580 2.906 AAA 256350021 LC-RCTC 2013 Residual Fund 65479AAD4 Asset Backed Nissan Auto Lease Trust 2017-A 04/15/2020 01/25/2018 50,000.00 49,771.48 ---49,750.50 (176.01)1.910 3.073 AAA 256350021 LC-RCTC 2013 Residual Fund 055657AC4 Asset Backed Bmw Vehicle Lease Trust 2017-1 05/20/2020 01/29/2018 93,591.57 93,313.72 ---93,240.60 (276.15)1.980 3.208 AAA 256350021 LC-RCTC 2013 Residual Fund 65477XAE4 Asset Backed Nissan Auto Lease Trust 2016-B 01/18/2022 04/13/2018 38,910.90 38,597.79 ---38,863.04 (5.91)1.610 3.055 AAA 256350021 LC-RCTC 2013 Residual Fund 05522RCV8 Asset Backed BA Credit Card Trust 05/15/2019 06/29/2018 100,000.00 100,214.84 ---100,065.00 (83.16)2.845 2.742 AAA 256350021 LC-RCTC 2013 Residual Fund 65478DAD9 Asset Backed Nissan Auto Receivables 2018-A Owner Trust 05/16/2022 06/29/2018 85,000.00 84,561.72 ---84,595.40 (57.17)2.650 2.930 AAA 256350021 LC-RCTC 2013 Residual Fund 02587AAJ3 Asset Backed American Express Credit Account Master Trust 02/18/2020 06/29/2018 100,000.00 98,515.63 ---98,817.00 (144.17)1.930 3.007 AAA 256350021 LC-RCTC 2013 Residual Fund 65478HAD0 Asset Backed NAROT_17-C 04/18/2022 09/25/2018 70,000.00 68,908.98 ---69,127.10 76.21 2.120 2.882 AAA 256350021 LC-RCTC 2013 Residual Fund 05584PAD9 Asset Backed BMW Vehicle Lease Trust 2017-2 02/20/2020 10/11/2018 150,000.00 148,652.34 ---148,885.50 (80.66)2.070 3.144 AAA 256350021 LC-RCTC 2013 Residual Fund 43814TAD4 Asset Backed Honda Auto Receivables 2007-1 Owner Trust 06/21/2023 10/11/2018 200,000.00 196,375.00 ---197,362.00 689.03 2.050 2.654 AAA 256350021 LC-RCTC 2013 Residual Fund 02360SN46 CP Ameren Corporation 01/04/2019 12/06/2018 275,000.00 274,384.15 ---274,958.75 22.46 0.000 1.808 AA 256350021 LC-RCTC 2013 Residual Fund 23337UNE5 CP DTE Gas Company 01/14/2019 12/26/2018 275,000.00 274,604.00 ---274,758.00 28.95 0.000 2.453 AAA 256350021 LC-RCTC 2013 Residual Fund 71112KN49 CP The Peoples Gas Light And Coke Company 01/04/2019 12/26/2018 150,000.00 149,906.67 ---149,977.50 12.50 0.000 1.808 AAA 256350021 LC-RCTC 2013 Residual Fund 64587BN73 CP New Jersey Natural Gas Company 01/07/2019 12/26/2018 275,000.00 274,732.33 ---274,898.25 32.09 0.000 2.233 AAA 256350021 LC-RCTC 2013 Residual Fund 43357MNR7 CP Hitachi Capital America Corp.01/25/2019 12/26/2018 275,000.00 274,312.50 ---274,538.00 88.00 0.000 2.538 AA 256350021 LC-RCTC 2013 Residual Fund 13607RAB6 Corporate Canadian Imperial Bank of Commerce 09/06/2019 ---200,000.00 197,801.00 ---198,196.00 (508.77)1.600 2.946 AA 256350021 LC-RCTC 2013 Residual Fund 89114QBF4 Corporate The Toronto-Dominion Bank 01/22/2019 01/19/2018 50,000.00 50,366.50 ---50,013.00 (8.14)3.309 2.864 AA 256350021 LC-RCTC 2013 Residual Fund 05531FAQ6 Corporate BB&T Corporation 02/01/2019 01/25/2018 100,000.00 100,106.00 01/11/2019 99,939.00 (61.31)2.250 2.956 A 256350021 LC-RCTC 2013 Residual Fund 46625HKA7 Corporate JPMorgan Chase & Co.01/23/2020 01/25/2018 100,000.00 99,577.00 12/23/2019 99,004.00 (767.60)2.250 3.211 A 256350021 LC-RCTC 2013 Residual Fund 38141EA58 Corporate The Goldman Sachs Group, Inc.03/15/2020 ---200,000.00 208,651.00 ---204,472.00 (1,276.85)5.375 3.461 A 256350021 LC-RCTC 2013 Residual Fund 06406HCU1 Corporate The Bank of New York Mellon Corporation 05/15/2019 01/25/2018 100,000.00 99,974.00 04/15/2019 99,769.00 (223.92)2.200 2.819 A 256350021 LC-RCTC 2013 Residual Fund 06051GFN4 Corporate Bank of America Corporation 04/21/2020 01/25/2018 100,000.00 99,537.00 ---98,931.00 (796.46)2.250 3.090 A 256350021 LC-RCTC 2013 Residual Fund 86787EAS6 Corporate SunTrust Bank 01/31/2020 01/25/2018 100,000.00 100,644.00 12/31/2019 99,904.00 (430.40)3.057 3.421 A 256350021 LC-RCTC 2013 Residual Fund 780082AC7 Corporate Royal Bank of Canada 10/14/2020 ---200,000.00 196,622.00 ---197,226.00 (20.17)2.100 2.901 AAA 256350021 LC-RCTC 2013 Residual Fund 61747WAF6 Corporate Morgan Stanley 01/25/2021 01/29/2018 100,000.00 108,369.00 ---104,265.00 (1,601.52)5.750 3.589 A 256350021 LC-RCTC 2013 Residual Fund 06416CAC2 Corporate The Bank of Nova Scotia 04/26/2021 ---200,000.00 194,126.00 ---195,276.00 174.33 1.875 2.935 AAA 256350021 LC-RCTC 2013 Residual Fund 254010AC5 Corporate Dignity Health 11/01/2019 03/15/2018 24,000.00 23,897.52 ---23,859.84 (87.12)2.637 3.350 A 256350021 LC-RCTC 2013 Residual Fund 369550BA5 Corporate General Dynamics Corporation 05/11/2020 ---225,000.00 224,409.50 ---225,155.25 648.72 2.875 2.821 A 256350021 LC-RCTC 2013 Residual Fund 31677QBB4 Corporate Fifth Third Bank 04/25/2019 06/29/2018 200,000.00 199,518.00 03/25/2019 199,588.00 (226.56)2.375 3.019 A 256350021 LC-RCTC 2013 Residual Fund 61746BDM5 Corporate Morgan Stanley 01/24/2019 06/29/2018 100,000.00 99,869.00 ---99,959.00 (26.42)2.500 3.109 A 256350021 LC-RCTC 2013 Residual Fund 17275RBG6 Corporate Cisco Systems, Inc.09/20/2019 06/29/2018 150,000.00 147,883.50 ---148,654.50 (92.39)1.400 2.665 AA 256350021 LC-RCTC 2013 Residual Fund 40428HPN6 Corporate HSBC USA Inc.11/13/2019 06/29/2018 100,000.00 99,140.00 ---99,363.00 (88.19)2.375 3.124 A 256350021 LC-RCTC 2013 Residual Fund 89114QAS7 Corporate The Toronto-Dominion Bank 07/02/2019 ---200,000.00 199,006.00 ---199,250.00 (162.77)2.125 2.882 AA 256350021 LC-RCTC 2013 Residual Fund 06367TPX2 Corporate Bank of Montreal 12/12/2019 ---200,000.00 197,898.00 ---198,102.00 (368.00)2.100 3.124 AA 256350021 LC-RCTC 2013 Residual Fund 36164QMS4 Corporate GE Capital International Funding Company Unlimited Company 11/15/2020 07/02/2018 200,000.00 195,482.00 ---193,012.00 (3,385.12)2.342 4.303 BBB 256350021 LC-RCTC 2013 Residual Fund 375558BB8 Corporate Gilead Sciences, Inc.09/01/2020 ---135,000.00 133,439.10 ---133,907.85 242.36 2.550 3.050 A 256350021 LC-RCTC 2013 Residual Fund 46625HHS2 Corporate JPMorgan Chase & Co.07/22/2020 ---140,000.00 142,963.00 ---142,532.60 33.42 4.400 3.200 A 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 Corporate American Express Credit Corporation 03/03/2020 ---160,000.00 157,949.40 02/01/2020 158,280.00 (82.93)2.200 3.140 A 256350021 LC-RCTC 2013 Residual Fund 20030NCP4 Corporate Comcast Corporation 10/01/2020 10/10/2018 100,000.00 99,953.00 ---100,383.00 424.75 3.300 3.072 A 256350021 LC-RCTC 2013 Residual Fund 05531FAU7 Corporate BB&T Corporation 06/29/2020 10/10/2018 100,000.00 99,133.00 05/29/2020 99,105.00 (139.99)2.625 3.243 A 256350021 LC-RCTC 2013 Residual Fund 69353RFC7 Corporate PNC Bank, National Association 05/19/2020 10/10/2018 250,000.00 245,222.50 04/19/2020 246,110.00 236.65 2.000 3.157 A 256350021 LC-RCTC 2013 Residual Fund 06051GEC9 Corporate Bank of America Corporation 07/01/2020 ---200,000.00 207,806.00 ---206,756.00 (103.73)5.625 3.298 A 256350021 LC-RCTC 2013 Residual Fund 06406FAB9 Corporate The Bank of New York Mellon Corporation 05/03/2021 10/11/2018 200,000.00 193,708.00 04/03/2021 195,206.00 989.03 2.050 3.120 A 256350021 LC-RCTC 2013 Residual Fund 21688AAN2 Corporate Cooperatieve Rabobank U.A.04/26/2021 10/11/2018 250,000.00 247,950.00 ---249,085.00 965.42 3.125 3.289 AA 256350021 LC-RCTC 2013 Residual Fund 55279HAN0 Corporate Manufacturers and Traders Trust Company 08/17/2020 10/11/2018 250,000.00 244,707.50 07/17/2020 245,075.00 (228.83)2.050 3.302 A 256350021 LC-RCTC 2013 Residual Fund 808513AW5 Corporate The Charles Schwab Corporation 05/21/2021 10/11/2018 150,000.00 149,700.00 04/21/2021 150,732.00 1,005.34 3.250 3.029 A 256350021 LC-RCTC 2013 Residual Fund 90331HNP4 Corporate U.S. Bank National Association 04/26/2021 10/11/2018 250,000.00 249,395.00 03/26/2021 250,230.00 783.69 3.150 3.107 AA 256350021 LC-RCTC 2013 Residual Fund 49327M2P8 Corporate KeyBank National Association 08/22/2019 10/11/2018 250,000.00 247,367.50 ---247,775.00 (242.32)1.600 3.009 A 256350023 LC-Sr Lien Reserve Fund-1 31846V401 MM Fund First American Funds, Inc.12/31/2018 ---0.00 132,050.10 ---132,050.10 0.00 1.850 1.850 AAA 256350021 LC-RCTC 2013 Residual Fund 31846V401 MM Fund First American Funds, Inc.12/31/2018 ---0.00 32,883.29 ---32,883.29 0.00 2.020 1.850 AAA 256350021 LC-RCTC 2013 Residual Fund 459058GK3 Non-US Gov International Bank for Reconstruction and Development 08/21/2020 ---250,000.00 250,085.20 ---249,917.50 (157.16)2.680 2.737 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828SA9 TIPS Treasury, United States Department of 01/15/2022 ---463,654.60 465,957.25 ---450,055.61 (15,170.89)0.125 1.107 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828V49 TIPS Treasury, United States Department of 01/15/2027 ---293,112.40 291,769.55 ---278,406.95 (13,585.24)0.375 1.026 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828UH1 TIPS Treasury, United States Department of 01/15/2023 02/05/2018 191,716.00 189,217.92 ---185,168.90 (4,500.04)0.125 0.988 AAA 256350021 LC-RCTC 2013 Residual Fund 912828UH1 TIPS Treasury, United States Department of 01/15/2023 ---98,596.80 96,726.48 ---95,229.72 (1,732.73)0.125 0.988 AAA 256350021 LC-RCTC 2013 Residual Fund 912828SA9 TIPS Treasury, United States Department of 01/15/2022 06/29/2018 201,103.20 197,757.22 ---195,204.84 (3,025.92)0.125 1.107 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828B58 US Gov Treasury, United States Department of 01/31/2021 ---1,375,000.00 1,405,890.24 ---1,364,426.25 (23,373.97)2.125 2.506 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828XB1 US Gov Treasury, United States Department of 05/15/2025 ---1,350,000.00 1,373,695.32 ---1,313,725.50 (52,174.43)2.125 2.585 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828G38 US Gov Treasury, United States Department of 11/15/2024 04/18/2017 1,350,000.00 1,369,037.11 ---1,326,739.50 (38,277.77)2.250 2.568 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828L99 US Gov Treasury, United States Department of 10/31/2020 ---1,250,000.00 1,239,802.73 ---1,224,612.50 (19,932.08)1.375 2.516 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828L57 US Gov Treasury, United States Department of 09/30/2022 ---1,400,000.00 1,386,564.45 ---1,363,026.00 (27,404.39)1.750 2.492 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 US Gov Treasury, United States Department of 08/31/2020 07/14/2017 100,000.00 101,667.97 ---99,336.00 (1,561.27)2.125 2.534 AAA 256350021 LC-RCTC 2013 Residual Fund 912828UF5 US Gov Treasury, United States Department of 12/31/2019 ---545,000.00 534,363.09 ---536,972.15 (144.07)1.125 2.627 AAA 256350021 LC-RCTC 2013 Residual Fund 912828B58 US Gov Treasury, United States Department of 01/31/2021 ---550,000.00 541,754.30 ---545,770.50 2,926.34 2.125 2.506 AAA 256350021 LC-RCTC 2013 Residual Fund 912828VV9 US Gov Treasury, United States Department of 08/31/2020 ---1,060,000.00 1,047,463.28 ---1,052,961.60 3,518.37 2.125 2.534 AAA 19 Page 4 of 34 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating 91 CIP STAMP Portfolio by Investment Category for quarter ended December 31, 2018 256350021 LC-RCTC 2013 Residual Fund 912828L57 US Gov Treasury, United States Department of 09/30/2022 06/29/2018 100,000.00 96,167.97 ---97,359.00 752.76 1.750 2.492 AAA 256350021 LC-RCTC 2013 Residual Fund 912828VA5 US Gov Treasury, United States Department of 04/30/2020 ---925,000.00 901,532.23 ---907,582.25 1,731.47 1.125 2.572 AAA 256350021 LC-RCTC 2013 Residual Fund 912828Y53 US Gov Treasury, United States Department of 07/31/2020 ---645,000.00 645,163.99 ---644,664.60 (487.75)2.473 2.539 AAA 256350021 LC-RCTC 2013 Residual Fund 9128285H9 US Gov Treasury, United States Department of 10/31/2020 12/06/2018 550,000.00 549,984.67 ---549,169.50 (815.72)2.475 2.595 AAA 256350021 LC-RCTC 2013 Residual Fund 56052FHZ1 VRDN Maine State Housing Authority 11/15/2052 06/29/2018 100,000.00 100,000.00 01/31/2019 100,000.00 0.00 2.450 2.450 AA 256350021 LC-RCTC 2013 Residual Fund 658886DZ6 VRDN North Dakota Housing Finance Agency 07/01/2038 06/29/2018 100,000.00 100,000.00 ---100,000.00 0.00 2.440 2.440 AA 32,159,674.39 32,287,465.27 31,916,382.14 (369,718.38) 20 Page 5 of 34 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating 256350021 LC-RCTC 2013 Residual Fund 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 100,000.00 100,050.00 02/23/2019 100,032.00 32.00 3.000 2.748 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A1LC5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2020 01/17/2018 12,612.27 12,570.88 ---12,534.45 (44.37)2.000 3.067 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A5FP4 Agency CMO Federal Home Loan Mortgage Corporation 01/15/2021 01/30/2018 37,911.63 38,006.41 ---37,692.88 (274.67)2.500 2.878 AAA 256350021 LC-RCTC 2013 Residual Fund 38378CDK0 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 03/20/2035 01/30/2018 42,265.81 42,655.44 ---42,240.45 (256.03)3.000 2.892 AAA 256350021 LC-RCTC 2013 Residual Fund 38378AWX5 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 01/20/2036 01/30/2018 30,683.42 30,980.66 ---30,695.08 (191.18)3.000 2.835 AAA 256350021 LC-RCTC 2013 Residual Fund 3137APP53 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2020 05/18/2018 10,498.74 10,369.55 ---10,395.43 (7.63)1.781 2.991 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A1N90 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2020 06/26/2018 65,000.00 65,594.14 ---65,336.05 (59.46)3.531 2.978 AAA 256350021 LC-RCTC 2013 Residual Fund 31397LUK3 Agency CMO Federal National Mortgage Association, Inc.06/25/2023 10/10/2018 200,000.00 204,031.25 ---203,890.00 453.43 4.500 2.893 AAA 256350021 LC-RCTC 2013 Residual Fund 31416BVR6 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 01/17/2018 38,789.27 39,662.03 ---39,465.37 130.03 5.000 1.802 AAA 256350021 LC-RCTC 2013 Residual Fund 3137B1UF7 Agency MBS Federal Home Loan Mortgage Corporation 09/25/2022 01/25/2018 17,884.29 17,621.62 ---17,565.95 (98.70)1.785 2.748 AAA 256350021 LC-RCTC 2013 Residual Fund 3137AXHN6 Agency MBS Federal Home Loan Mortgage Corporation 02/25/2022 01/25/2018 31,553.71 31,119.85 ---31,009.09 (188.98)1.749 2.786 AAA 256350021 LC-RCTC 2013 Residual Fund 3137AWQG3 Agency MBS Federal Home Loan Mortgage Corporation 04/25/2022 01/30/2018 36,907.81 36,129.29 ---36,157.48 (119.33)1.583 2.747 AAA 256350021 LC-RCTC 2013 Residual Fund 3137B2GW4 Agency MBS Federal Home Loan Mortgage Corporation 03/25/2020 06/29/2018 97,521.76 96,889.39 ---96,808.87 (228.98)2.313 2.891 AAA 256350021 LC-RCTC 2013 Residual Fund 31381RZ23 Agency MBS Federal National Mortgage Association, Inc.08/01/2021 11/02/2018 61,529.49 62,442.82 ---62,813.00 422.41 3.840 2.871 AAA 256350021 LC-RCTC 2013 Residual Fund 31381RLL6 Agency MBS Federal National Mortgage Association, Inc.07/01/2021 11/02/2018 53,293.35 54,084.43 ---54,617.69 580.60 3.840 2.595 AAA 256350021 LC-RCTC 2013 Residual Fund 31381PTG3 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 11/08/2018 66,257.07 66,873.06 ---67,409.94 584.99 3.800 2.608 AAA 256350021 LC-RCTC 2013 Residual Fund 31381QB54 Agency MBS Federal National Mortgage Association, Inc.03/01/2021 11/07/2018 100,968.23 103,058.59 ---103,984.15 1,058.72 4.410 2.684 AAA 256350021 LC-RCTC 2013 Residual Fund 3138L2GH4 Agency MBS Federal National Mortgage Association, Inc.07/01/2021 12/19/2018 92,521.66 90,006.24 ---90,496.36 470.66 1.870 2.983 AAA 256350021 LC-RCTC 2013 Residual Fund 02582JGN4 Asset Backed American Express Credit Account Master Trust 05/15/2019 01/16/2018 100,000.00 100,351.56 ---100,065.00 (156.64)2.825 2.722 AAA 256350021 LC-RCTC 2013 Residual Fund 161571FK5 Asset Backed Chase Issuance Trust 08/15/2019 01/25/2018 115,000.00 113,827.54 ---114,063.90 (459.81)1.580 2.906 AAA 256350021 LC-RCTC 2013 Residual Fund 65479AAD4 Asset Backed Nissan Auto Lease Trust 2017-A 04/15/2020 01/25/2018 50,000.00 49,771.48 ---49,750.50 (176.01)1.910 3.073 AAA 256350021 LC-RCTC 2013 Residual Fund 055657AC4 Asset Backed Bmw Vehicle Lease Trust 2017-1 05/20/2020 01/29/2018 93,591.57 93,313.72 ---93,240.60 (276.15)1.980 3.208 AAA 256350021 LC-RCTC 2013 Residual Fund 65477XAE4 Asset Backed Nissan Auto Lease Trust 2016-B 01/18/2022 04/13/2018 38,910.90 38,597.79 ---38,863.04 (5.91)1.610 3.055 AAA 256350021 LC-RCTC 2013 Residual Fund 05522RCV8 Asset Backed BA Credit Card Trust 05/15/2019 06/29/2018 100,000.00 100,214.84 ---100,065.00 (83.16)2.845 2.742 AAA 256350021 LC-RCTC 2013 Residual Fund 65478DAD9 Asset Backed Nissan Auto Receivables 2018-A Owner Trust 05/16/2022 06/29/2018 85,000.00 84,561.72 ---84,595.40 (57.17)2.650 2.930 AAA 256350021 LC-RCTC 2013 Residual Fund 02587AAJ3 Asset Backed American Express Credit Account Master Trust 02/18/2020 06/29/2018 100,000.00 98,515.63 ---98,817.00 (144.17)1.930 3.007 AAA 256350021 LC-RCTC 2013 Residual Fund 65478HAD0 Asset Backed NAROT_17-C 04/18/2022 09/25/2018 70,000.00 68,908.98 ---69,127.10 76.21 2.120 2.882 AAA 256350021 LC-RCTC 2013 Residual Fund 05584PAD9 Asset Backed BMW Vehicle Lease Trust 2017-2 02/20/2020 10/11/2018 150,000.00 148,652.34 ---148,885.50 (80.66)2.070 3.144 AAA 256350021 LC-RCTC 2013 Residual Fund 43814TAD4 Asset Backed Honda Auto Receivables 2007-1 Owner Trust 06/21/2023 10/11/2018 200,000.00 196,375.00 ---197,362.00 689.03 2.050 2.654 AAA 256350021 LC-RCTC 2013 Residual Fund 13607RAB6 Corporate Canadian Imperial Bank of Commerce 09/06/2019 ---200,000.00 197,801.00 ---198,196.00 (508.77)1.600 2.946 AA 256350021 LC-RCTC 2013 Residual Fund 89114QBF4 Corporate The Toronto-Dominion Bank 01/22/2019 01/19/2018 50,000.00 50,366.50 ---50,013.00 (8.14)3.309 2.864 AA 256350021 LC-RCTC 2013 Residual Fund 05531FAQ6 Corporate BB&T Corporation 02/01/2019 01/25/2018 100,000.00 100,106.00 01/11/2019 99,939.00 (61.31)2.250 2.956 A 256350021 LC-RCTC 2013 Residual Fund 46625HKA7 Corporate JPMorgan Chase & Co.01/23/2020 01/25/2018 100,000.00 99,577.00 12/23/2019 99,004.00 (767.60)2.250 3.211 A 256350021 LC-RCTC 2013 Residual Fund 38141EA58 Corporate The Goldman Sachs Group, Inc.03/15/2020 ---200,000.00 208,651.00 ---204,472.00 (1,276.85)5.375 3.461 A 256350021 LC-RCTC 2013 Residual Fund 06406HCU1 Corporate The Bank of New York Mellon Corporation 05/15/2019 01/25/2018 100,000.00 99,974.00 04/15/2019 99,769.00 (223.92)2.200 2.819 A 256350021 LC-RCTC 2013 Residual Fund 06051GFN4 Corporate Bank of America Corporation 04/21/2020 01/25/2018 100,000.00 99,537.00 ---98,931.00 (796.46)2.250 3.090 A 256350021 LC-RCTC 2013 Residual Fund 86787EAS6 Corporate SunTrust Bank 01/31/2020 01/25/2018 100,000.00 100,644.00 12/31/2019 99,904.00 (430.40)3.057 3.421 A 256350021 LC-RCTC 2013 Residual Fund 780082AC7 Corporate Royal Bank of Canada 10/14/2020 ---200,000.00 196,622.00 ---197,226.00 (20.17)2.100 2.901 AAA 256350021 LC-RCTC 2013 Residual Fund 61747WAF6 Corporate Morgan Stanley 01/25/2021 01/29/2018 100,000.00 108,369.00 ---104,265.00 (1,601.52)5.750 3.589 A 256350021 LC-RCTC 2013 Residual Fund 06416CAC2 Corporate The Bank of Nova Scotia 04/26/2021 ---200,000.00 194,126.00 ---195,276.00 174.33 1.875 2.935 AAA 256350021 LC-RCTC 2013 Residual Fund 254010AC5 Corporate Dignity Health 11/01/2019 03/15/2018 24,000.00 23,897.52 ---23,859.84 (87.12)2.637 3.350 A 256350021 LC-RCTC 2013 Residual Fund 369550BA5 Corporate General Dynamics Corporation 05/11/2020 ---225,000.00 224,409.50 ---225,155.25 648.72 2.875 2.821 A 256350021 LC-RCTC 2013 Residual Fund 31677QBB4 Corporate Fifth Third Bank 04/25/2019 06/29/2018 200,000.00 199,518.00 03/25/2019 199,588.00 (226.56)2.375 3.019 A 256350021 LC-RCTC 2013 Residual Fund 61746BDM5 Corporate Morgan Stanley 01/24/2019 06/29/2018 100,000.00 99,869.00 ---99,959.00 (26.42)2.500 3.109 A 256350021 LC-RCTC 2013 Residual Fund 17275RBG6 Corporate Cisco Systems, Inc.09/20/2019 06/29/2018 150,000.00 147,883.50 ---148,654.50 (92.39)1.400 2.665 AA 256350021 LC-RCTC 2013 Residual Fund 40428HPN6 Corporate HSBC USA Inc.11/13/2019 06/29/2018 100,000.00 99,140.00 ---99,363.00 (88.19)2.375 3.124 A 256350021 LC-RCTC 2013 Residual Fund 89114QAS7 Corporate The Toronto-Dominion Bank 07/02/2019 ---200,000.00 199,006.00 ---199,250.00 (162.77)2.125 2.882 AA 256350021 LC-RCTC 2013 Residual Fund 06367TPX2 Corporate Bank of Montreal 12/12/2019 ---200,000.00 197,898.00 ---198,102.00 (368.00)2.100 3.124 AA 256350021 LC-RCTC 2013 Residual Fund 36164QMS4 Corporate GE Capital International Funding Company Unlimited Company 11/15/2020 07/02/2018 200,000.00 195,482.00 ---193,012.00 (3,385.12)2.342 4.303 BBB 256350021 LC-RCTC 2013 Residual Fund 375558BB8 Corporate Gilead Sciences, Inc.09/01/2020 ---135,000.00 133,439.10 ---133,907.85 242.36 2.550 3.050 A 256350021 LC-RCTC 2013 Residual Fund 46625HHS2 Corporate JPMorgan Chase & Co.07/22/2020 ---140,000.00 142,963.00 ---142,532.60 33.42 4.400 3.200 A 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 Corporate American Express Credit Corporation 03/03/2020 ---160,000.00 157,949.40 02/01/2020 158,280.00 (82.93)2.200 3.140 A 256350021 LC-RCTC 2013 Residual Fund 20030NCP4 Corporate Comcast Corporation 10/01/2020 10/10/2018 100,000.00 99,953.00 ---100,383.00 424.75 3.300 3.072 A 256350021 LC-RCTC 2013 Residual Fund 05531FAU7 Corporate BB&T Corporation 06/29/2020 10/10/2018 100,000.00 99,133.00 05/29/2020 99,105.00 (139.99)2.625 3.243 A 256350021 LC-RCTC 2013 Residual Fund 69353RFC7 Corporate PNC Bank, National Association 05/19/2020 10/10/2018 250,000.00 245,222.50 04/19/2020 246,110.00 236.65 2.000 3.157 A 256350021 LC-RCTC 2013 Residual Fund 06051GEC9 Corporate Bank of America Corporation 07/01/2020 ---200,000.00 207,806.00 ---206,756.00 (103.73)5.625 3.298 A 256350021 LC-RCTC 2013 Residual Fund 06406FAB9 Corporate The Bank of New York Mellon Corporation 05/03/2021 10/11/2018 200,000.00 193,708.00 04/03/2021 195,206.00 989.03 2.050 3.120 A 256350021 LC-RCTC 2013 Residual Fund 21688AAN2 Corporate Cooperatieve Rabobank U.A.04/26/2021 10/11/2018 250,000.00 247,950.00 ---249,085.00 965.42 3.125 3.289 AA 256350021 LC-RCTC 2013 Residual Fund 55279HAN0 Corporate Manufacturers and Traders Trust Company 08/17/2020 10/11/2018 250,000.00 244,707.50 07/17/2020 245,075.00 (228.83)2.050 3.302 A 256350021 LC-RCTC 2013 Residual Fund 808513AW5 Corporate The Charles Schwab Corporation 05/21/2021 10/11/2018 150,000.00 149,700.00 04/21/2021 150,732.00 1,005.34 3.250 3.029 A 256350021 LC-RCTC 2013 Residual Fund 90331HNP4 Corporate U.S. Bank National Association 04/26/2021 10/11/2018 250,000.00 249,395.00 03/26/2021 250,230.00 783.69 3.150 3.107 AA 256350021 LC-RCTC 2013 Residual Fund 49327M2P8 Corporate KeyBank National Association 08/22/2019 10/11/2018 250,000.00 247,367.50 ---247,775.00 (242.32)1.600 3.009 A 256350021 LC-RCTC 2013 Residual Fund 02360SN46 CP Ameren Corporation 01/04/2019 12/06/2018 275,000.00 274,384.15 ---274,958.75 22.46 0.000 1.808 AA 256350021 LC-RCTC 2013 Residual Fund 23337UNE5 CP DTE Gas Company 01/14/2019 12/26/2018 275,000.00 274,604.00 ---274,758.00 28.95 0.000 2.453 AAA 256350021 LC-RCTC 2013 Residual Fund 71112KN49 CP The Peoples Gas Light And Coke Company 01/04/2019 12/26/2018 150,000.00 149,906.67 ---149,977.50 12.50 0.000 1.808 AAA 256350021 LC-RCTC 2013 Residual Fund 64587BN73 CP New Jersey Natural Gas Company 01/07/2019 12/26/2018 275,000.00 274,732.33 ---274,898.25 32.09 0.000 2.233 AAA 256350021 LC-RCTC 2013 Residual Fund 43357MNR7 CP Hitachi Capital America Corp.01/25/2019 12/26/2018 275,000.00 274,312.50 ---274,538.00 88.00 0.000 2.538 AA 256350021 LC-RCTC 2013 Residual Fund 31846V401 MM Fund First American Funds, Inc.12/31/2018 ---0.00 32,883.29 ---32,883.29 0.00 2.020 1.850 AAA 256350021 LC-RCTC 2013 Residual Fund 459058GK3 Non-US Gov International Bank for Reconstruction and Development 08/21/2020 ---250,000.00 250,085.20 ---249,917.50 (157.16)2.680 2.737 AAA 256350021 LC-RCTC 2013 Residual Fund 912828UH1 TIPS Treasury, United States Department of 01/15/2023 ---98,596.80 96,726.48 ---95,229.72 (1,732.73)0.125 0.988 AAA 256350021 LC-RCTC 2013 Residual Fund 912828SA9 TIPS Treasury, United States Department of 01/15/2022 06/29/2018 201,103.20 197,757.22 ---195,204.84 (3,025.92)0.125 1.107 AAA 256350021 LC-RCTC 2013 Residual Fund 912828UF5 US Gov Treasury, United States Department of 12/31/2019 ---545,000.00 534,363.09 ---536,972.15 (144.07)1.125 2.627 AAA 256350021 LC-RCTC 2013 Residual Fund 912828B58 US Gov Treasury, United States Department of 01/31/2021 ---550,000.00 541,754.30 ---545,770.50 2,926.34 2.125 2.506 AAA 256350021 LC-RCTC 2013 Residual Fund 912828VV9 US Gov Treasury, United States Department of 08/31/2020 ---1,060,000.00 1,047,463.28 ---1,052,961.60 3,518.37 2.125 2.534 AAA 256350021 LC-RCTC 2013 Residual Fund 912828L57 US Gov Treasury, United States Department of 09/30/2022 06/29/2018 100,000.00 96,167.97 ---97,359.00 752.76 1.750 2.492 AAA 256350021 LC-RCTC 2013 Residual Fund 912828VA5 US Gov Treasury, United States Department of 04/30/2020 ---925,000.00 901,532.23 ---907,582.25 1,731.47 1.125 2.572 AAA 256350021 LC-RCTC 2013 Residual Fund 912828Y53 US Gov Treasury, United States Department of 07/31/2020 ---645,000.00 645,163.99 ---644,664.60 (487.75)2.473 2.539 AAA 256350021 LC-RCTC 2013 Residual Fund 9128285H9 US Gov Treasury, United States Department of 10/31/2020 12/06/2018 550,000.00 549,984.67 ---549,169.50 (815.72)2.475 2.595 AAA 256350021 LC-RCTC 2013 Residual Fund 56052FHZ1 VRDN Maine State Housing Authority 11/15/2052 06/29/2018 100,000.00 100,000.00 01/31/2019 100,000.00 0.00 2.450 2.450 AA 91 CIP STAMP Portfolio by Account for quarter ended December 31, 2018 ATTACHMENT 3 21 Page 6 of 34 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating 91 CIP STAMP Portfolio by Account for quarter ended December 31, 2018 256350021 LC-RCTC 2013 Residual Fund 658886DZ6 VRDN North Dakota Housing Finance Agency 07/01/2038 06/29/2018 100,000.00 100,000.00 ---100,000.00 0.00 2.440 2.440 AA 13,857,400.97 13,799,228.63 13,813,940.77 (1,087.17) 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 Agency Federal Home Loan Mortgage Corporation 01/13/2022 ---950,000.00 942,921.50 ---946,219.00 (3,473.24)2.375 2.512 AAA 256350023 LC-Sr Lien Reserve Fund-1 3135G0D75 Agency Federal National Mortgage Association, Inc.06/22/2020 05/06/2015 600,000.00 593,490.00 ---591,222.00 (6,847.83)1.500 2.516 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137EADR7 Agency Federal Home Loan Mortgage Corporation 05/01/2020 05/15/2015 475,000.00 471,527.75 ---467,666.00 (6,375.24)1.375 2.560 AAA 256350023 LC-Sr Lien Reserve Fund-1 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 200,000.00 200,100.00 02/23/2019 200,064.00 64.00 3.000 2.748 AAA 256350023 LC-Sr Lien Reserve Fund-1 3134G9V38 Agency Federal Home Loan Mortgage Corporation 07/27/2021 08/28/2018 250,000.00 245,225.00 01/27/2019 247,230.00 1,443.50 1.500 2.539 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A72D3 Agency CMO Federal National Mortgage Association, Inc.04/25/2022 07/03/2013 316,675.32 300,841.56 ---313,565.57 2,327.81 2.482 2.949 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 07/03/2013 82,239.59 80,366.71 ---81,420.48 (397.70)1.459 3.032 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2022 ---379,000.00 366,344.03 ---373,364.27 (495.25)2.396 2.825 AAA 256350023 LC-Sr Lien Reserve Fund-1 31395EZP5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2019 07/09/2013 3,205.37 3,391.18 ---3,204.99 (13.33)4.500 3.509 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377JZ89 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 10/20/2039 07/05/2013 51,863.90 53,450.21 ---52,417.81 (483.80)3.500 2.948 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 04/20/2039 ---114,938.88 117,232.02 ---114,767.63 (1,595.78)3.000 3.015 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378TAF7 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 07/20/2041 07/05/2013 130,787.93 130,807.65 ---129,312.64 (1,352.32)2.500 2.886 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378CRT6 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 10/20/2040 05/22/2014 51,895.18 50,111.28 ---50,486.75 54.74 2.000 2.924 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376GB33 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 10/16/2044 01/23/2015 126,290.61 129,632.93 ---126,149.17 (724.39)3.500 3.422 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376T5Z1 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 01/16/2039 01/26/2015 80,542.01 84,146.27 ---80,275.42 (2,795.88)3.000 3.100 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 10/20/2039 ---231,537.33 237,333.69 ---241,680.98 3,724.61 4.000 2.499 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377RSZ9 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 06/16/2039 ---58,615.57 60,455.44 ---59,390.47 (255.39)4.500 2.556 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B7F0 Agency CMO Government National Mortgage Association 12/16/2042 ---450,000.00 427,324.22 ---414,508.50 (21,513.87)2.273 4.062 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AJMF8 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2021 08/05/2015 29,667.99 30,694.78 ---29,714.87 (379.67)2.968 2.838 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ATRW4 Agency CMO Federal Home Loan Mortgage Corporation 05/25/2022 ---282,110.00 278,085.13 ---277,971.45 (628.92)2.373 2.808 AAA 256350023 LC-Sr Lien Reserve Fund-1 38380AZ34 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 04/20/2046 11/28/2016 145,356.04 149,427.15 ---144,613.27 (4,280.94)3.000 3.087 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AXHP1 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2022 09/29/2017 140,000.00 142,089.06 ---138,454.40 (3,061.73)2.573 2.858 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137A5FP4 Agency CMO Federal Home Loan Mortgage Corporation 01/15/2021 ---106,052.34 106,064.34 ---105,440.42 (571.90)2.500 2.878 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378CDK0 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 03/20/2035 03/16/2018 23,481.00 23,591.07 ---23,466.91 (76.49)3.000 2.892 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377LQT8 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 12/20/2037 ---26,622.20 26,631.72 ---26,614.21 13.86 3.000 2.693 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378AWX5 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 01/20/2036 03/28/2018 92,050.26 92,546.47 ---92,085.24 (300.01)3.000 2.835 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378DDC6 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 04/20/2038 06/20/2018 139,049.00 139,988.67 ---139,361.86 (362.60)3.500 2.994 AAA 256350023 LC-Sr Lien Reserve Fund-1 31398QTP2 Agency CMO Federal Home Loan Mortgage Corporation 05/15/2038 06/26/2018 83,962.78 85,605.96 ---85,274.28 251.93 4.500 2.304 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377WL77 Agency CMO Government National Mortgage Association 01/20/2039 08/28/2018 13,399.84 13,341.21 ---13,375.58 31.15 2.000 2.977 AAA 256350023 LC-Sr Lien Reserve Fund-1 38375KCX8 Agency CMO Government National Mortgage Association 01/20/2037 09/18/2018 37,550.45 37,826.21 ---37,669.86 (49.34)5.500 3.293 AAA 256350023 LC-Sr Lien Reserve Fund-1 38379HLE3 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 05/20/2043 10/18/2018 123,136.05 122,962.89 ---125,042.20 2,091.33 3.500 2.774 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377F2N0 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 06/20/2038 09/28/2018 9,125.77 9,110.09 ---9,116.10 8.69 3.000 2.799 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378VC45 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 12/16/2041 11/23/2018 159,341.34 153,590.12 ---155,305.22 1,759.24 2.250 3.097 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377JM59 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 10/20/2039 11/21/2018 92,011.28 89,710.99 ---90,027.52 322.81 2.500 3.451 AAA 256350023 LC-Sr Lien Reserve Fund-1 31417YKF3 Agency MBS Federal National Mortgage Association, Inc.01/01/2030 07/10/2013 71,609.96 75,548.51 ---74,376.26 (848.61)4.500 3.199 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381PEB0 Agency MBS Federal National Mortgage Association, Inc.11/01/2020 09/26/2014 250,963.45 264,256.67 ---253,207.06 (1,019.16)3.370 2.694 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KXW4 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 02/16/2037 12/11/2014 112,163.75 111,620.45 ---108,770.79 (3,153.42)1.705 4.113 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B6A2 Agency MBS Government National Mortgage Association 11/16/2052 01/22/2015 114,421.95 110,814.97 ---106,435.29 (5,909.58)1.826 4.249 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 12/16/2046 ---425,000.00 415,829.11 ---393,329.00 (25,042.94)2.811 3.927 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KRS0 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 07/16/2043 05/08/2015 450,000.00 434,460.94 ---423,904.50 (17,313.88)2.389 3.938 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378XP62 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 05/16/2055 05/14/2015 291,921.25 295,524.65 ---282,997.21 (11,821.02)2.500 3.212 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-T 11/16/2041 ---128,721.38 122,773.05 ---121,205.34 (2,955.41)1.400 4.274 AAA 256350023 LC-Sr Lien Reserve Fund-1 38379KDN5 Agency MBS Government National Mortgage Association 09/16/2055 08/05/2015 162,421.77 158,272.40 ---151,565.50 (8,865.80)2.119 4.018 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138L33G8 Agency MBS Federal National Mortgage Association, Inc.06/01/2020 11/12/2015 100,000.00 99,875.00 ---98,638.00 (1,203.82)2.010 2.872 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381Q6B7 Agency MBS Federal National Mortgage Association, Inc.06/01/2021 07/15/2016 183,745.02 203,784.72 ---189,516.46 (4,323.76)4.295 2.840 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A7MN9 Agency MBS Federal National Mortgage Association, Inc.05/25/2022 08/29/2016 300,000.00 308,578.13 ---295,512.00 (8,955.96)2.349 2.998 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137B1U75 Agency MBS Federal Home Loan Mortgage Corporation 01/25/2023 08/29/2016 380,000.00 394,917.97 ---374,585.00 (14,206.27)2.522 2.923 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138EJPZ5 Agency MBS Federal National Mortgage Association, Inc.07/01/2022 08/29/2016 273,111.63 290,085.09 ---273,297.35 (10,145.52)2.973 2.989 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381T4E7 Agency MBS Federal National Mortgage Association, Inc.03/01/2022 10/25/2016 261,468.81 273,183.85 ---260,067.34 (7,518.64)2.670 2.878 AAA 256350023 LC-Sr Lien Reserve Fund-1 36202F2H8 Agency MBS Ginnie Mae II 01/20/2027 ---176,385.19 181,802.41 ---176,501.61 (4,744.04)3.000 2.938 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136AHAE0 Agency MBS Federal National Mortgage Association, Inc.04/25/2023 10/28/2016 116,482.18 118,993.83 ---116,059.35 (2,478.29)2.637 2.953 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 Agency MBS Federal National Mortgage Association, Inc.03/01/2023 ---277,251.21 273,310.22 ---273,433.46 (552.15)2.350 2.798 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136AC7J4 Agency MBS Federal National Mortgage Association, Inc.03/25/2023 02/21/2018 51,115.13 50,274.53 ---50,732.27 315.73 2.520 2.943 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381R5T7 Agency MBS Federal National Mortgage Association, Inc.09/01/2021 08/29/2018 130,000.00 132,747.27 ---132,672.80 250.00 3.770 2.909 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138NJAE8 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 09/13/2018 22,413.08 22,672.24 ---22,740.54 52.75 3.630 2.693 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381N7G2 Agency MBS Federal National Mortgage Association, Inc.10/01/2020 09/25/2018 18,217.54 18,284.44 ---18,296.42 (40.38)3.270 2.918 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381QB54 Agency MBS Federal National Mortgage Association, Inc.03/01/2021 11/07/2018 131,697.68 134,424.24 ---135,631.49 1,380.94 4.410 2.684 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381PTG3 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 11/08/2018 44,171.39 44,582.04 ---44,939.97 389.99 3.800 2.608 AAA 256350023 LC-Sr Lien Reserve Fund-1 31846V401 MM Fund First American Funds, Inc.12/31/2018 ---0.00 132,050.10 ---132,050.10 0.00 1.850 1.850 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828SA9 TIPS Treasury, United States Department of 01/15/2022 ---463,654.60 465,957.25 ---450,055.61 (15,170.89)0.125 1.107 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828V49 TIPS Treasury, United States Department of 01/15/2027 ---293,112.40 291,769.55 ---278,406.95 (13,585.24)0.375 1.026 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828UH1 TIPS Treasury, United States Department of 01/15/2023 02/05/2018 191,716.00 189,217.92 ---185,168.90 (4,500.04)0.125 0.988 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828B58 US Gov Treasury, United States Department of 01/31/2021 ---1,375,000.00 1,405,890.24 ---1,364,426.25 (23,373.97)2.125 2.506 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828XB1 US Gov Treasury, United States Department of 05/15/2025 ---1,350,000.00 1,373,695.32 ---1,313,725.50 (52,174.43)2.125 2.585 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828G38 US Gov Treasury, United States Department of 11/15/2024 04/18/2017 1,350,000.00 1,369,037.11 ---1,326,739.50 (38,277.77)2.250 2.568 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828L99 US Gov Treasury, United States Department of 10/31/2020 ---1,250,000.00 1,239,802.73 ---1,224,612.50 (19,932.08)1.375 2.516 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828L57 US Gov Treasury, United States Department of 09/30/2022 ---1,400,000.00 1,386,564.45 ---1,363,026.00 (27,404.39)1.750 2.492 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 US Gov Treasury, United States Department of 08/31/2020 07/14/2017 100,000.00 101,667.97 ---99,336.00 (1,561.27)2.125 2.534 AAA 18,302,273.41 18,488,236.64 18,102,441.37 (368,631.21) 22 Page 7 of 34 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating 91 CIP STAMP Portfolio by Account for quarter ended December 31, 2018 32,159,674.39 32,287,465.27 31,916,382.14 (369,718.38) 23 Page 8 of 34 Source Account Account Identifier Description Beginning Base Market Value Base Purchases Base Sales Base Maturities and Redemptions Base Paydowns Net Total Realized Gain/Loss Base Amortization/Ac cretion Base Change In Net Unrealized Gain/Loss Ending Base Market Value Ending Accrued Income Balance 256350021 LC-RCTC 2013 Residual Fund 61747WAF6 MORGAN STANLEY 105,112.00 - - - - - (686.51) (160.49) 104,265.00 2,491.67 256350021 LC-RCTC 2013 Residual Fund 38141EA58 GOLDMAN SACHS GROUP INC 103,079.00 - - - - - (680.01) (162.99) 102,236.00 1,582.64 256350021 LC-RCTC 2013 Residual Fund 31397LUK3 FNR 0845C DB - 204,031.25 - - - - (594.68) 453.43 203,890.00 750.00 256350021 LC-RCTC 2013 Residual Fund 06051GEC9 BANK OF AMERICA CORP - 103,908.00 - - - - (481.81) (48.19) 103,378.00 2,812.50 256350021 LC-RCTC 2013 Residual Fund 06051GEC9 BANK OF AMERICA CORP - 103,898.00 - - - - (464.45) (55.55) 103,378.00 2,812.50 256350021 LC-RCTC 2013 Residual Fund 38141EA58 GOLDMAN SACHS GROUP INC - 102,933.00 - - - - (451.68) (245.32) 102,236.00 1,582.64 256350021 LC-RCTC 2013 Residual Fund 46625HHS2 JPMORGAN CHASE & CO - 101,993.00 - - - - (238.45) 54.45 101,809.00 1,943.33 256350021 LC-RCTC 2013 Residual Fund 31381QB54 FN 467260 - 103,253.72 - - (191.17) (3.90) (133.22) 1,058.72 103,984.15 371.06 256350021 LC-RCTC 2013 Residual Fund 46625HHS2 JPMORGAN CHASE & CO 40,843.20 - - - - - (115.98) (3.62) 40,723.60 777.33 256350021 LC-RCTC 2013 Residual Fund 3137A1N90 FHMS K008 A2 65,455.65 - - - - - (98.40) (21.20) 65,336.05 191.26 256350021 LC-RCTC 2013 Residual Fund 89114QBF4 TORONTO-DOMINION BANK 50,127.50 - - - - - (92.63) (21.87) 50,013.00 326.30 256350021 LC-RCTC 2013 Residual Fund 86787EAS6 SUNTRUST BANK 100,348.00 - - - - - (84.52) (359.48) 99,904.00 526.42 256350021 LC-RCTC 2013 Residual Fund 31381RZ23 FN 468861 - 62,558.42 - - (113.91) (1.65) (52.28) 422.41 62,813.00 203.46 256350021 LC-RCTC 2013 Residual Fund 31381PTG3 FN 466851 - 66,992.96 - - (118.80) (1.08) (48.12) 584.99 67,409.94 209.81 256350021 LC-RCTC 2013 Residual Fund 31381RLL6 FN 468431 - 54,177.90 - - (92.10) (1.34) (47.38) 580.60 54,617.69 176.22 256350021 LC-RCTC 2013 Residual Fund 38378CDK0 GNR 11169G AK 49,373.79 - - - (7,164.82) (43.81) (44.19) 119.49 42,240.45 105.66 256350021 LC-RCTC 2013 Residual Fund 02582JGN4 AMXCA 141 A 100,194.00 - - - - - (33.73) (95.27) 100,065.00 117.71 256350021 LC-RCTC 2013 Residual Fund 3134GSTK1 FEDERAL HOME LOAN MORTGAGE CORP 100,001.00 - - - - - (30.46) 61.46 100,032.00 1,066.67 256350021 LC-RCTC 2013 Residual Fund 05531FAQ6 BB&T CORP 99,889.00 - - - - - (28.70) 78.70 99,939.00 937.50 256350021 LC-RCTC 2013 Residual Fund 38378AWX5 GNR 11157E QA 34,393.76 - - - (3,815.91) (27.24) (25.63) 170.09 30,695.08 76.71 256350021 LC-RCTC 2013 Residual Fund 05522RCV8 BACCT 161 A 100,198.00 - - - - - (19.63) (113.37) 100,065.00 118.55 256350021 LC-RCTC 2013 Residual Fund 31416BVR6 FN 995324 50,523.51 - - - (10,254.11) (141.13) (15.09) (647.82) 39,465.37 161.62 256350021 LC-RCTC 2013 Residual Fund 3137A5FP4 FHR 3791E DA 40,809.89 - - - (3,226.53) (5.48) (11.61) 126.62 37,692.88 78.98 256350021 LC-RCTC 2013 Residual Fund 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM - 220,079.20 - - - - (9.45) (142.35) 219,927.40 628.83 256350021 LC-RCTC 2013 Residual Fund 912828Y53 UNITED STATES TREASURY - 345,122.63 - - - - (6.44) (295.59) 344,820.60 1,434.44 256350021 LC-RCTC 2013 Residual Fund 912828Y53 UNITED STATES TREASURY - 400,055.15 (100,010.19) - - (3.56) (5.24) (192.16) 299,844.00 1,247.34 256350021 LC-RCTC 2013 Residual Fund 91159HHE3 U.S. BANCORP 99,939.00 - - (100,000.00) - - (1.91) 62.91 - - 256350021 LC-RCTC 2013 Residual Fund 31294KUP8 FH E01490 1,128.94 - - - (1,120.64) (1.44) (0.83) (6.03) - - 256350021 LC-RCTC 2013 Residual Fund 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 15,002.70 - - - - - (0.76) (6.89) 14,995.05 42.88 256350021 LC-RCTC 2013 Residual Fund 31846V401 FIRST AMER:GVT OBLG D 15,422.18 10,541,711.29 (10,524,250.18) - - - - - 32,883.29 - 256350021 LC-RCTC 2013 Residual Fund CCYUSD Receivable 2,562.50 - - - - - - - - - 256350021 LC-RCTC 2013 Residual Fund 46849LTA9 JACKSON NATIONAL LIFE GLOBAL FUNDING 30,140.40 - (30,101.40) - - 101.40 - (140.40) - - 256350021 LC-RCTC 2013 Residual Fund 56052FHZ1 MAINE ST HSG AUTH MTG PUR 100,000.00 - - - - - - - 100,000.00 298.22 256350021 LC-RCTC 2013 Residual Fund 658886DZ6 NORTH DAKOTA ST HSG FIN AGY MTG REV 100,000.00 - - - - - - - 100,000.00 1,061.01 256350021 LC-RCTC 2013 Residual Fund 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 15,002.70 - - - - - - (7.65) 14,995.05 42.88 256350021 LC-RCTC 2013 Residual Fund 9128285H9 UNITED STATES TREASURY - 549,984.67 - - - - 0.55 (815.72) 549,169.50 2,288.69 256350021 LC-RCTC 2013 Residual Fund 46849LSP7 JACKSON NATIONAL LIFE GLOBAL FUNDING 9,721.60 - (9,685.70) - - (39.93) 3.20 0.84 - - 256350021 LC-RCTC 2013 Residual Fund 65602VBU9 The Norinchukin Bank - 299,996.80 - (300,000.00) - - 3.20 - - - 256350021 LC-RCTC 2013 Residual Fund 3137A1LC5 FHR 3710F AB 16,162.02 - - - (3,653.04) 10.31 3.79 11.37 12,534.45 21.02 256350021 LC-RCTC 2013 Residual Fund 24422ESF7 JOHN DEERE CAPITAL CORP 99,897.00 - - (100,000.00) - - 4.38 98.62 - - 256350021 LC-RCTC 2013 Residual Fund 0258M0DZ9 AMERICAN EXPRESS CREDIT CORP 99,980.00 - - (100,000.00) - 7.00 4.67 8.33 - - 256350021 LC-RCTC 2013 Residual Fund 06406HCU1 BANK OF NEW YORK MELLON CORP 99,736.00 - - - - - 4.79 28.21 99,769.00 281.11 256350021 LC-RCTC 2013 Residual Fund 20030NCP4 COMCAST CORP - 99,953.00 - - - - 5.25 424.75 100,383.00 788.33 256350021 LC-RCTC 2013 Residual Fund 89236WAD0 TAOT 15A A4 20,376.59 - - - (20,408.22) 16.26 5.97 9.39 - - 256350021 LC-RCTC 2013 Residual Fund 369550BA5 GENERAL DYNAMICS CORP 24,939.50 - - - - - 11.00 66.75 25,017.25 99.83 256350021 LC-RCTC 2013 Residual Fund 3137B1UF7 FHMS K027 A1 18,612.17 - - - (1,185.36) 15.18 14.33 109.63 17,565.95 26.60 256350021 LC-RCTC 2013 Residual Fund 254010AC5 DIGNITY HEALTH 23,850.48 - - - - - 15.91 (6.55) 23,859.84 105.48 256350021 LC-RCTC 2013 Residual Fund 3137APP53 FHMS K018 A1 12,076.27 - - - (1,711.24) 17.40 17.46 (4.47) 10,395.43 15.58 256350021 LC-RCTC 2013 Residual Fund 3138L2GH4 FN AM1999 - 90,006.24 - - - - 19.47 470.66 90,496.36 148.99 256350021 LC-RCTC 2013 Residual Fund 3137AXHN6 FHMS K024 A1 33,145.07 - - - (2,350.83) 27.77 26.33 160.74 31,009.09 45.99 256350021 LC-RCTC 2013 Residual Fund 808513AW5 CHARLES SCHWAB CORP - 149,700.00 - - - - 26.66 1,005.34 150,732.00 541.67 256350021 LC-RCTC 2013 Residual Fund 14912L6M8 CATERPILLAR FINANCIAL SERVICES CORP 99,922.00 - - (100,000.00) - - 27.63 50.37 - - 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 AMERICAN EXPRESS CREDIT CORP 19,776.00 - - - - - 41.16 (32.16) 19,785.00 144.22 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 AMERICAN EXPRESS CREDIT CORP 19,776.00 - - - - - 41.44 (32.44) 19,785.00 144.22 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 AMERICAN EXPRESS CREDIT CORP 19,776.00 - - - - - 41.63 (32.63) 19,785.00 144.22 256350021 LC-RCTC 2013 Residual Fund 65479AAD4 NALT 17A A3 49,706.50 - - - - - 42.50 1.50 49,750.50 42.44 256350021 LC-RCTC 2013 Residual Fund 055657AC4 BMWLT 171 A3 99,602.00 - - - (6,408.43) 5.35 44.07 (2.40) 93,240.60 56.62 256350021 LC-RCTC 2013 Residual Fund 3137AWQG3 FHMS K023 A1 38,460.60 - - - (2,592.84) 46.36 44.39 198.97 36,157.48 48.69 256350021 LC-RCTC 2013 Residual Fund 23337UL23 DTE Gas Company - 349,955.47 - (350,000.00) - - 44.53 - - - 256350021 LC-RCTC 2013 Residual Fund 65478DAD9 NAROT 18A A3 84,432.20 - - - - - 46.69 116.51 84,595.40 100.11 256350021 LC-RCTC 2013 Residual Fund 375558BB8 GILEAD SCIENCES INC 34,648.25 - - - - - 48.22 20.38 34,716.85 297.50 256350021 LC-RCTC 2013 Residual Fund 90331HNP4 US BANK NA - 249,395.00 - - - - 51.31 783.69 250,230.00 1,421.88 256350021 LC-RCTC 2013 Residual Fund 06051GFN4 BANK OF AMERICA CORP 98,722.00 - - - - - 51.96 157.04 98,931.00 437.50 256350021 LC-RCTC 2013 Residual Fund 46625HKA7 JPMORGAN CHASE & CO 98,977.00 - - - - - 52.95 (25.95) 99,004.00 987.50 256350021 LC-RCTC 2013 Residual Fund 61746BDM5 MORGAN STANLEY 99,943.00 - - - - - 58.31 (42.31) 99,959.00 1,090.28 256350021 LC-RCTC 2013 Residual Fund 71112KN49 The Peoples Gas Light And Coke Company - 149,906.67 - - - - 58.33 12.50 149,977.50 - 256350021 LC-RCTC 2013 Residual Fund 902674XF2 UBS AG (LONDON BRANCH)196,390.00 - (196,378.00) - - (268.51) 59.17 197.34 - - 256350021 LC-RCTC 2013 Residual Fund 912828UF5 UNITED STATES TREASURY 29,417.70 - - - - - 66.48 73.92 29,558.10 0.93 256350021 LC-RCTC 2013 Residual Fund 369550BA5 GENERAL DYNAMICS CORP - 199,498.00 - - - - 69.22 570.78 200,138.00 798.61 256350021 LC-RCTC 2013 Residual Fund 3137B2GW4 FHMS K713 A2 97,258.31 - - - (542.64) 2.97 75.93 14.31 96,808.87 187.97 256350021 LC-RCTC 2013 Residual Fund 912828VV9 UNITED STATES TREASURY 49,349.50 - - - - - 85.65 232.85 49,668.00 361.02 256350021 LC-RCTC 2013 Residual Fund 65477XAE4 NALT 16B A4 44,864.10 - - - (6,089.09) 8.04 99.37 (19.37) 38,863.04 27.84 256350021 LC-RCTC 2013 Residual Fund 780082AC7 ROYAL BANK OF CANADA 97,845.00 - - - - - 104.71 663.29 98,613.00 449.17 256350021 LC-RCTC 2013 Residual Fund 05531FAU7 BB&T CORP - 99,133.00 - - - - 111.99 (139.99) 99,105.00 14.58 256350021 LC-RCTC 2013 Residual Fund 23337UNE5 DTE Gas Company - 274,604.00 - - - - 125.05 28.95 274,758.00 - 256350021 LC-RCTC 2013 Residual Fund 89114QAS7 TORONTO-DOMINION BANK - 99,577.00 - - - - 125.51 (77.51) 99,625.00 1,056.60 256350021 LC-RCTC 2013 Residual Fund 912796PD5 UNITED STATES TREASURY - 274,873.25 - (275,000.00) - - 126.75 - - - 256350021 LC-RCTC 2013 Residual Fund 375558BB8 GILEAD SCIENCES INC - 98,857.00 - - - - 133.01 200.99 99,191.00 850.00 256350021 LC-RCTC 2013 Residual Fund 64587BN73 New Jersey Natural Gas Company - 274,732.33 - - - - 133.84 32.09 274,898.25 - 256350021 LC-RCTC 2013 Residual Fund 912828UH1 UNITED STATES TREASURY 31,707.29 - - - - - 134.03 (98.09) 31,743.24 18.98 256350021 LC-RCTC 2013 Residual Fund 65478HAD0 NAROT 17C A3 68,980.80 - - - - - 135.95 10.35 69,127.10 65.96 256350021 LC-RCTC 2013 Residual Fund 43357MNR7 Hitachi Capital America Corp.- 274,312.50 - - - - 137.50 88.00 274,538.00 - 256350021 LC-RCTC 2013 Residual Fund 912828VA5 UNITED STATES TREASURY 38,981.20 - - - - - 141.21 124.39 39,246.80 77.07 256350021 LC-RCTC 2013 Residual Fund 89114QAS7 TORONTO-DOMINION BANK 99,562.00 - - - - - 142.18 (79.18) 99,625.00 1,056.60 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended December 31, 2018 ATTACHMENT 4 24 Page 9 of 34 Source Account Account Identifier Description Beginning Base Market Value Base Purchases Base Sales Base Maturities and Redemptions Base Paydowns Net Total Realized Gain/Loss Base Amortization/Ac cretion Base Change In Net Unrealized Gain/Loss Ending Base Market Value Ending Accrued Income Balance 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended December 31, 2018 256350021 LC-RCTC 2013 Residual Fund 31677QBB4 FIFTH THIRD BANK 199,652.00 - - - - - 149.76 (213.76) 199,588.00 870.83 256350021 LC-RCTC 2013 Residual Fund 40428HPN6 HSBC USA INC (NEW)99,338.00 - - - - - 158.24 (133.24) 99,363.00 316.67 256350021 LC-RCTC 2013 Residual Fund 64587BKK7 New Jersey Natural Gas Company - 274,838.44 - (275,000.00) - - 161.56 - - - 256350021 LC-RCTC 2013 Residual Fund 93884FKK7 Washington Gas Light Company - 274,838.44 - (275,000.00) - - 161.56 - - - 256350021 LC-RCTC 2013 Residual Fund 21688AAN2 COOPERATIEVE RABOBANK UA (NEW YORK BRANCH)- 247,950.00 - - - - 169.58 965.42 249,085.00 1,410.59 256350021 LC-RCTC 2013 Residual Fund 13607RAB6 CANADIAN IMPERIAL BANK OF COMMERCE 98,864.00 - - - - - 174.61 59.39 99,098.00 511.11 256350021 LC-RCTC 2013 Residual Fund 06367TPX2 BANK OF MONTREAL - 99,051.00 - - - - 179.46 (179.46) 99,051.00 110.83 256350021 LC-RCTC 2013 Residual Fund 06416CAC2 BANK OF NOVA SCOTIA 96,687.00 - - - - - 190.01 760.99 97,638.00 338.54 256350021 LC-RCTC 2013 Residual Fund 161571FK5 CHAIT 124 A 113,817.80 - - - - - 190.84 55.26 114,063.90 80.76 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 AMERICAN EXPRESS CREDIT CORP - 98,754.00 - - - - 191.38 (20.38) 98,925.00 721.11 256350021 LC-RCTC 2013 Residual Fund 06367TPX2 BANK OF MONTREAL 99,045.00 - - - - - 198.84 (192.84) 99,051.00 110.83 256350021 LC-RCTC 2013 Residual Fund 912828L57 UNITED STATES TREASURY 95,559.00 - - - - - 217.74 1,582.26 97,359.00 447.12 256350021 LC-RCTC 2013 Residual Fund 02587AAJ3 AMXCA 171 A 98,614.00 - - - - - 226.59 (23.59) 98,817.00 85.78 256350021 LC-RCTC 2013 Residual Fund 780082AC7 ROYAL BANK OF CANADA - 97,760.00 - - - - 242.66 610.34 98,613.00 449.17 256350021 LC-RCTC 2013 Residual Fund 13607RAB6 CANADIAN IMPERIAL BANK OF COMMERCE - 98,913.00 - - - - 260.72 (75.72) 99,098.00 511.11 256350021 LC-RCTC 2013 Residual Fund 912828VA5 UNITED STATES TREASURY 68,217.10 - - - - - 277.40 187.40 68,681.90 134.88 256350021 LC-RCTC 2013 Residual Fund 912828S76 UNITED STATES TREASURY 90,483.70 - (91,166.60) - - (220.94) 277.60 626.24 - - 256350021 LC-RCTC 2013 Residual Fund 06416CAC2 BANK OF NOVA SCOTIA - 96,615.00 - - - - 287.92 735.08 97,638.00 338.54 256350021 LC-RCTC 2013 Residual Fund 64587BM58 New Jersey Natural Gas Company - 199,708.33 - (200,000.00) - - 291.67 - - - 256350021 LC-RCTC 2013 Residual Fund 912828B58 UNITED STATES TREASURY 260,632.80 - - - - - 296.22 2,033.13 262,962.15 2,356.56 256350021 LC-RCTC 2013 Residual Fund 43814TAD4 HAROT 171 A4 - 196,375.00 - - - - 297.97 689.03 197,362.00 113.89 256350021 LC-RCTC 2013 Residual Fund 912828UH1 UNITED STATES TREASURY 63,414.59 - - - - - 303.37 (231.48) 63,486.48 37.96 256350021 LC-RCTC 2013 Residual Fund 05584PAD9 BMWLT 172 A3 - 148,652.34 - - - - 313.82 (80.66) 148,885.50 94.88 256350021 LC-RCTC 2013 Residual Fund 71112KKW0 The Peoples Gas Light And Coke Company - 274,640.97 - (275,000.00) - - 359.03 - - - 256350021 LC-RCTC 2013 Residual Fund 17275RBG6 CISCO SYSTEMS INC 148,041.00 - - - - - 441.13 172.37 148,654.50 589.17 256350021 LC-RCTC 2013 Residual Fund 36164QMS4 GE CAPITAL INTERNATIONAL FUNDING CO 195,424.00 - - - - - 470.75 (2,882.75) 193,012.00 598.51 256350021 LC-RCTC 2013 Residual Fund 912828VV9 UNITED STATES TREASURY 454,015.40 - - - - - 483.06 2,447.14 456,945.60 3,321.34 256350021 LC-RCTC 2013 Residual Fund 912828B58 UNITED STATES TREASURY - 279,901.17 - - - - 487.42 2,419.76 282,808.35 2,534.41 256350021 LC-RCTC 2013 Residual Fund 912828VA5 UNITED STATES TREASURY 131,561.55 - - - - - 494.57 401.83 132,457.95 260.12 256350021 LC-RCTC 2013 Residual Fund 06406FAB9 BANK OF NEW YORK MELLON CORP - 193,708.00 - - - - 508.97 989.03 195,206.00 660.56 256350021 LC-RCTC 2013 Residual Fund 63873KM53 Natixis - 274,486.06 - (275,000.00) - - 513.94 - - - 256350021 LC-RCTC 2013 Residual Fund 02360SN46 Ameren Corporation - 274,384.15 - - - - 552.14 22.46 274,958.75 - 256350021 LC-RCTC 2013 Residual Fund 55279HAN0 MANUFACTURERS AND TRADERS TRUST CO - 244,707.50 - - - - 596.33 (228.83) 245,075.00 1,907.64 256350021 LC-RCTC 2013 Residual Fund 26055BLE2 The Dow Chemical Company - 274,363.68 - (275,000.00) - - 636.32 - - - 256350021 LC-RCTC 2013 Residual Fund 49327M2P8 KEYBANK NA - 247,367.50 - - - - 649.82 (242.32) 247,775.00 1,433.33 256350021 LC-RCTC 2013 Residual Fund 69353RFC7 PNC BANK NA - 245,222.50 - - - - 650.85 236.65 246,110.00 583.33 256350021 LC-RCTC 2013 Residual Fund 912828VA5 UNITED STATES TREASURY 194,906.00 - - - - - 673.85 654.15 196,234.00 385.36 256350021 LC-RCTC 2013 Residual Fund 912828Q37 UNITED STATES TREASURY 259,591.50 - (261,330.47) - - (564.26) 729.03 1,574.20 - - 256350021 LC-RCTC 2013 Residual Fund 43357MLV0 Hitachi Capital America Corp.- 349,250.42 - (350,000.00) - - 749.58 - - - 256350021 LC-RCTC 2013 Residual Fund 912828UF5 UNITED STATES TREASURY 230,438.65 - - - - - 771.81 327.99 231,538.45 7.30 256350021 LC-RCTC 2013 Residual Fund 912828VV9 UNITED STATES TREASURY - 542,330.08 - - - - 914.18 3,103.74 546,348.00 3,971.17 256350021 LC-RCTC 2013 Residual Fund 912828SA9 UNITED STATES TREASURY 195,453.31 - - - - - 921.52 (1,169.98) 195,204.84 116.13 256350021 LC-RCTC 2013 Residual Fund 912828UF5 UNITED STATES TREASURY - 274,520.31 - - - - 999.39 355.90 275,875.60 8.70 256350021 LC-RCTC 2013 Residual Fund 912828Q37 UNITED STATES TREASURY - 542,377.93 (546,858.20) - - 2,820.14 1,660.13 - - - 256350021 LC-RCTC 2013 Residual Fund 912828VA5 UNITED STATES TREASURY - 467,531.25 - - - - 1,802.30 1,628.05 470,961.60 924.86 6,589,897.26 22,263,446.52 (11,759,780.74)(3,250,000.00)(71,039.68)1,753.94 19,651.48 22,574.49 13,813,940.77 64,763.01 256350023 LC-Sr Lien Reserve Fund-1 31381Q6B7 FN 468066 189,197.16 - - - (857.39) (50.31) (1,024.95) 2,251.95 189,516.46 679.58 256350023 LC-Sr Lien Reserve Fund-1 3138EJPZ5 FN AL2239 270,897.84 - - - (1,668.86) (67.59) (1,014.53) 5,150.49 273,297.35 699.19 256350023 LC-Sr Lien Reserve Fund-1 912828XB1 UNITED STATES TREASURY 1,136,208.00 - - - - - (772.45) 32,320.45 1,167,756.00 3,310.77 256350023 LC-Sr Lien Reserve Fund-1 31381T4E7 FN 470721 257,916.02 - - - (1,649.05) (41.73) (678.71) 4,520.81 260,067.34 601.16 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 717,969.60 - - - - - (671.41) 7,088.11 724,386.30 6,491.64 256350023 LC-Sr Lien Reserve Fund-1 3137B1U75 FHMS KS01 A2 369,850.20 - - - - - (668.73) 5,403.53 374,585.00 798.63 256350023 LC-Sr Lien Reserve Fund-1 31381PEB0 FN 466430 253,213.78 - - - (1,216.39) (18.20) (658.63) 1,886.49 253,207.06 728.28 256350023 LC-Sr Lien Reserve Fund-1 912828G38 UNITED STATES TREASURY 1,293,732.00 - - - - - (605.72) 33,613.22 1,326,739.50 3,943.72 256350023 LC-Sr Lien Reserve Fund-1 3136A7MN9 FNA 12M8 A2 290,592.00 - - - - - (429.11) 5,349.11 295,512.00 587.35 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 FREDDIE MAC 196,546.00 - - - - - (346.82) 3,004.82 199,204.00 2,216.67 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 UNITED STATES TREASURY 301,031.95 - (202,325.97) - - (4,628.31) (298.13) 5,556.46 99,336.00 722.03 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 FREDDIE MAC 196,546.00 - - - - - (265.10) 2,923.10 199,204.00 2,216.67 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 231,127.20 - - - - - (261.69) 2,327.34 233,192.85 2,089.78 256350023 LC-Sr Lien Reserve Fund-1 31381R5T7 FN 468958 131,596.40 - - - - - (251.40) 1,327.80 132,672.80 422.03 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 98,352.00 - - - - - (246.28) 1,125.28 99,231.00 889.27 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 142,610.40 - - - - - (176.86) 1,451.41 143,884.95 1,289.44 256350023 LC-Sr Lien Reserve Fund-1 31381QB54 FN 467260 - 134,678.76 - - (249.36) (5.07) (173.77) 1,380.94 135,631.49 483.99 256350023 LC-Sr Lien Reserve Fund-1 31398QTP2 FHR 3747C HW 91,680.30 - - - (6,037.22) (80.47) (168.05) (120.29) 85,274.28 314.86 256350023 LC-Sr Lien Reserve Fund-1 38378DDC6 GNR 1216E GB 162,264.69 - - - (22,817.50) (128.26) (158.98) 201.91 139,361.86 405.56 256350023 LC-Sr Lien Reserve Fund-1 38375KCX8 GNR 0726C MA 60,287.56 - - - (22,321.60) (152.04) (142.16) (1.90) 37,669.86 172.11 256350023 LC-Sr Lien Reserve Fund-1 36202F2H8 G2 005276 149,562.79 - - - (8,223.11) (284.44) (139.24) 1,600.83 142,516.83 356.06 256350023 LC-Sr Lien Reserve Fund-1 38376GB33 GNR 116 BA 164,872.47 - - - (38,540.65) (215.11) (131.99) 164.45 126,149.17 368.35 256350023 LC-Sr Lien Reserve Fund-1 38377RSZ9 GNR 10162D PQ 56,042.69 - - - (8,457.23) (147.89) (123.02) 59.17 47,373.72 175.33 256350023 LC-Sr Lien Reserve Fund-1 3137AXHP1 FHMS K024 A2 136,914.40 - - - - - (115.75) 1,655.75 138,454.40 300.18 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 113,104.80 - - - - - (108.16) 1,119.01 114,115.65 1,022.66 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 FHMS K021 A2 140,384.16 - - - - - (100.35) 1,574.91 141,858.72 287.52 256350023 LC-Sr Lien Reserve Fund-1 38376T5Z1 GNR 104A PD 84,586.02 - - - (5,161.57) (165.46) (77.49) 1,093.93 80,275.42 201.36 256350023 LC-Sr Lien Reserve Fund-1 31417YKF3 FN MA0293 77,775.71 - - - (3,540.02) (181.31) (75.31) 397.18 74,376.26 268.54 256350023 LC-Sr Lien Reserve Fund-1 3138L76A9 FN AM7164 122,706.08 - - - (123,135.82) (2,128.59) (71.28) 2,629.62 - - 256350023 LC-Sr Lien Reserve Fund-1 3134GSTK1 FEDERAL HOME LOAN MORTGAGE CORP 200,002.00 - - - - - (60.92) 122.92 200,064.00 2,133.33 256350023 LC-Sr Lien Reserve Fund-1 38378AWX5 GNR 11157E QA 103,181.29 - - - (11,447.74) (46.28) (55.43) 453.40 92,085.24 230.13 256350023 LC-Sr Lien Reserve Fund-1 38377RSZ9 GNR 10162D PQ 14,215.71 - - - (2,145.25) (60.33) (48.07) 54.68 12,016.75 44.47 256350023 LC-Sr Lien Reserve Fund-1 3137AJMF8 FHMS K016 A2 29,868.30 - - - (332.01) (4.96) (47.49) 231.03 29,714.87 73.37 256350023 LC-Sr Lien Reserve Fund-1 3136A4M48 FNA 12M3A 1A1 40,582.62 - - - (40,736.52) (6.03) (47.06) 206.99 - - 256350023 LC-Sr Lien Reserve Fund-1 38378VC45 GNR 13116D MA - 156,710.72 - - (3,237.45) 118.50 (45.79) 1,759.24 155,305.22 298.77 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 49,176.00 - - - - - (43.57) 483.07 49,615.50 444.63 256350023 LC-Sr Lien Reserve Fund-1 31381PTG3 FN 466851 - 44,661.98 - - (79.20) (0.72) (32.08) 389.99 44,939.97 139.88 25 Page 10 of 34 Source Account Account Identifier Description Beginning Base Market Value Base Purchases Base Sales Base Maturities and Redemptions Base Paydowns Net Total Realized Gain/Loss Base Amortization/Ac cretion Base Change In Net Unrealized Gain/Loss Ending Base Market Value Ending Accrued Income Balance 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended December 31, 2018 256350023 LC-Sr Lien Reserve Fund-1 3137A5FP4 FHR 3791E DA 68,266.40 - - - (5,397.32) (9.16) (19.43) 211.81 63,052.31 132.12 256350023 LC-Sr Lien Reserve Fund-1 38378CDK0 GNR 11169G AK 27,429.88 - - - (3,980.46) (12.44) (16.57) 46.50 23,466.91 58.70 256350023 LC-Sr Lien Reserve Fund-1 31395EZP5 FHR 2835G MD 6,574.13 - - - (3,350.21) (20.43) (12.35) 13.85 3,204.99 12.02 256350023 LC-Sr Lien Reserve Fund-1 38379HLE3 GNR 14184H WK - 129,362.82 - - (6,408.94) 8.96 (11.98) 2,091.33 125,042.20 359.15 256350023 LC-Sr Lien Reserve Fund-1 38378CRT6 GNR 1213E EG 52,197.75 - - - (2,871.68) 79.75 (9.42) 1,090.36 50,486.75 86.49 256350023 LC-Sr Lien Reserve Fund-1 38377LQT8 GNR 10128D KE 26,896.86 - - - (6,577.55) 2.72 (9.24) (13.81) 20,298.98 50.76 256350023 LC-Sr Lien Reserve Fund-1 38377JZ89 GNR 10117A GK 55,395.44 - - - (3,648.11) (72.34) (7.32) 750.14 52,417.81 151.27 256350023 LC-Sr Lien Reserve Fund-1 38377JM59 GNR 10111F PE - 91,585.12 - - (1,922.18) 48.87 (7.10) 322.81 90,027.52 191.69 256350023 LC-Sr Lien Reserve Fund-1 36202F2H8 G2 005276 35,664.96 - - - (1,960.89) (1.79) (5.14) 287.64 33,984.77 84.91 256350023 LC-Sr Lien Reserve Fund-1 38378TAF7 GNR 1371A GA 133,733.34 - - - (6,359.00) 5.79 (4.73) 1,937.25 129,312.64 272.47 256350023 LC-Sr Lien Reserve Fund-1 38377F2N0 GNR 1073E LN - 12,671.65 - - (3,567.70) 6.07 (2.61) 8.69 9,116.10 22.81 256350023 LC-Sr Lien Reserve Fund-1 38377LQT8 GNR 10128D KE 8,367.91 - - - (2,046.35) 1.95 (1.81) (6.47) 6,315.24 15.79 256350023 LC-Sr Lien Reserve Fund-1 31846V401 FIRST AMER:GVT OBLG D 5,063.65 977,237.01 (850,250.56) - - - - - 132,050.10 - 256350023 LC-Sr Lien Reserve Fund-1 38377F2N0 GNR 1073E LN 14,507.43 (14,486.70) - - - - - (20.73) - - 256350023 LC-Sr Lien Reserve Fund-1 3137ATRW4 FHMS K020 A2 121,847.50 - - - - - 0.24 1,318.51 123,166.25 247.19 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 GNR 1015C PD 41,257.47 - - - (2,880.43) (95.90) 3.40 522.72 38,807.26 123.93 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 GNR 10166F GP 22,893.81 - - - (1,172.08) 17.14 4.44 178.59 21,921.90 54.89 256350023 LC-Sr Lien Reserve Fund-1 3138L33G8 FN AM3498 98,181.00 - - - - - 5.99 451.01 98,638.00 173.08 256350023 LC-Sr Lien Reserve Fund-1 3137A5FP4 FHR 3791E DA 45,893.38 - - - (3,628.45) 11.71 7.06 104.41 42,388.11 88.82 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 14,296.92 - - - (129.65) 1.34 7.28 83.57 14,259.45 17.67 256350023 LC-Sr Lien Reserve Fund-1 912828XB1 UNITED STATES TREASURY - 145,148.44 - - - - 7.80 813.26 145,969.50 413.85 256350023 LC-Sr Lien Reserve Fund-1 38378KXW4 GNR 13105 A 117,373.86 - - - (8,918.88) 19.50 8.37 287.94 108,770.79 159.37 256350023 LC-Sr Lien Reserve Fund-1 38380AZ34 GNR 16147C DA 146,781.06 - - - (4,983.56) (120.56) 11.00 2,925.32 144,613.27 363.39 256350023 LC-Sr Lien Reserve Fund-1 3138NJAE8 FN FN0004 28,878.56 - - - (6,191.72) (67.76) 13.32 108.14 22,740.54 70.06 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 53,613.43 - - - (486.18) 6.07 25.69 313.93 53,472.95 66.25 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 GNR 1015C PD - 159,046.85 - - - - 29.62 4,108.00 163,184.47 521.12 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 GNR 1374 AL 203,125.50 - - - - - 29.69 5,077.81 208,233.00 526.99 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 GNR 10166F GP 36,360.76 - - - (1,861.54) (46.12) 31.04 333.00 34,817.15 87.17 256350023 LC-Sr Lien Reserve Fund-1 38377WL77 GNR 1194A AB 45,378.70 - - - (32,088.04) 138.38 31.60 (85.06) 13,375.58 22.33 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 FN AL3382 14,588.44 - - - (88.67) 3.27 37.42 239.72 14,780.19 30.33 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 FN AL3382 18,235.55 - - - (110.84) 3.38 38.06 309.08 18,475.23 37.91 256350023 LC-Sr Lien Reserve Fund-1 912828L99 UNITED STATES TREASURY 145,588.50 - - - - - 38.58 1,326.42 146,953.50 353.25 256350023 LC-Sr Lien Reserve Fund-1 31381N7G2 FN 466295 45,247.43 - - - (27,054.34) (93.33) 40.51 156.16 18,296.42 51.30 256350023 LC-Sr Lien Reserve Fund-1 3136AC7J4 FNA 13M6 2A 54,936.98 - - - (5,322.53) 75.45 43.97 998.40 50,732.27 107.34 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 GNR 10166F GP 60,601.27 - - - (3,102.57) (41.60) 45.37 526.10 58,028.58 145.29 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 GNR 1015C PD 42,195.14 - - - (2,945.90) (185.31) 46.14 579.17 39,689.25 126.74 256350023 LC-Sr Lien Reserve Fund-1 38378B6A2 GNR 1312A AB 108,498.22 - - - (667.44) 12.36 63.10 (1,470.95) 106,435.29 174.11 256350023 LC-Sr Lien Reserve Fund-1 3137ASNH3 FHMS K019 A1 97,480.76 - - - (16,329.39) 92.15 68.17 108.80 81,420.48 99.99 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 GNR 1374 AL 180,556.00 - - - - - 88.45 4,451.55 185,096.00 468.43 256350023 LC-Sr Lien Reserve Fund-1 38378XP62 GNR 14166 PL 301,661.04 - - - (26,932.39) (258.18) 99.09 8,427.65 282,997.21 608.17 256350023 LC-Sr Lien Reserve Fund-1 38379KDN5 GNR 1529 AD 155,804.92 - - - (4,878.34) 62.61 100.35 475.96 151,565.50 286.84 256350023 LC-Sr Lien Reserve Fund-1 38378B7F0 GNR 1333 B 185,628.00 - - - - - 101.59 (1,503.59) 184,226.00 378.83 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 FN AL3382 237,062.19 - - - (1,440.87) 13.46 125.45 4,417.81 240,178.04 492.81 256350023 LC-Sr Lien Reserve Fund-1 912828UN8 UNITED STATES TREASURY 100,955.40 - (101,821.29) - - 235.53 154.82 475.54 - - 256350023 LC-Sr Lien Reserve Fund-1 3137EADR7 FREDDIE MAC 464,654.50 - - - - - 179.98 2,831.52 467,666.00 1,088.54 256350023 LC-Sr Lien Reserve Fund-1 912828V49 UNITED STATES TREASURY 54,772.03 - - - - - 183.05 (268.00) 54,687.08 99.74 256350023 LC-Sr Lien Reserve Fund-1 912828L57 UNITED STATES TREASURY 525,574.50 - - - - - 208.90 9,691.10 535,474.50 2,459.13 256350023 LC-Sr Lien Reserve Fund-1 3137ATRW4 FHMS K020 A2 153,147.69 - - - - - 222.68 1,434.83 154,805.20 310.69 256350023 LC-Sr Lien Reserve Fund-1 38378B7F0 GNR 1333 B 232,035.00 - - - - - 301.65 (2,054.15) 230,282.50 473.54 256350023 LC-Sr Lien Reserve Fund-1 3136AHAE0 FNA 13M14 APT 180,379.16 - - - (68,786.21) (986.21) 322.81 5,129.81 116,059.35 255.97 256350023 LC-Sr Lien Reserve Fund-1 3135G0D75 FEDERAL NATIONAL MORTGAGE ASSOCIATION 587,190.00 - - - - - 324.32 3,707.68 591,222.00 225.00 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 53,613.42 - - - (486.18) 34.40 346.10 (34.80) 53,472.94 66.25 256350023 LC-Sr Lien Reserve Fund-1 3134G9V38 FEDERAL HOME LOAN MORTGAGE CORP 244,725.00 - - - - - 413.26 2,091.74 247,230.00 1,604.17 256350023 LC-Sr Lien Reserve Fund-1 912828L57 UNITED STATES TREASURY 812,251.50 - - - - - 413.96 14,886.04 827,551.50 3,800.48 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 FHMS K021 A2 229,099.15 - - - - - 417.45 1,988.95 231,505.55 469.22 256350023 LC-Sr Lien Reserve Fund-1 3136A72D3 FNA 12M9 A2 323,229.38 - - - (14,668.67) 261.98 432.36 4,310.52 313,565.57 654.99 256350023 LC-Sr Lien Reserve Fund-1 912828SA9 UNITED STATES TREASURY 179,165.53 - - - - - 569.43 (797.19) 178,937.77 106.45 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 FREDDIE MAC 540,501.50 - - - - - 623.89 6,685.61 547,811.00 6,095.83 256350023 LC-Sr Lien Reserve Fund-1 38378KRS0 GNR 1378 AG 418,626.00 - - - - - 674.76 4,603.74 423,904.50 895.72 256350023 LC-Sr Lien Reserve Fund-1 912828L99 UNITED STATES TREASURY 1,067,649.00 - - - - - 703.61 9,306.39 1,077,659.00 2,590.47 256350023 LC-Sr Lien Reserve Fund-1 912828UH1 UNITED STATES TREASURY 184,959.21 - - - - - 781.86 (572.18) 185,168.90 110.71 256350023 LC-Sr Lien Reserve Fund-1 912828V49 UNITED STATES TREASURY 224,067.41 - - - - - 853.41 (1,200.94) 223,719.87 408.03 256350023 LC-Sr Lien Reserve Fund-1 912828SA9 UNITED STATES TREASURY 271,462.93 - - - - - 886.11 (1,231.20) 271,117.84 161.29 17,780,716.63 1,836,616.65 (1,154,397.82)0.00 (585,099.19)(9,162.88)(276.98)234,044.97 18,102,441.37 65,019.13 24,370,613.89 24,100,063.17 (12,914,178.56)(3,250,000.00)(656,138.87)(7,408.95)19,374.50 256,619.45 31,916,382.14 129,782.14 26 *Negative cash reflects securities in transit at month end 91 CIP STAMP Portfolio Summary of Investments for quarter ended December 31, 2018 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 5 27 *Negative cash reflects securities in transit at month end 91 CIP STAMP Portfolio Series A & Series B Reserve Fund Summary of Investments for quarter ended December 31, 2018 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 6 28 *Negative cash reflects securities in transit at month end 91 CIP STAMP Portfolio Residual Fund Required Retained Balance Summary of Investments for quarter ended December 31, 2018 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 7 29 Page 14 of 34 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating 240907020 RCTC I-15 Prj RAMP UP RESERVE 3130AECJ7 Agency Council of Federal Home Loan Banks 05/28/2020 07/03/2018 350,000.00 350,150.50 ---350,504.00 386.83 2.625 2.519 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 150,000.00 150,075.00 02/23/2019 150,048.00 48.00 3.000 2.748 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3135G0U68 Agency Federal National Mortgage Association, Inc.10/30/2019 10/25/2018 375,000.00 375,000.00 ---374,958.75 (41.25)2.530 2.518 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3130AAMQ8 Agency Federal Home Loan Banks Office of Finance 01/18/2019 12/27/2018 225,000.00 224,841.60 ---224,885.25 13.48 1.250 2.318 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ATRW4 Agency CMO Federal Home Loan Mortgage Corporation 05/25/2022 09/26/2018 100,000.00 97,238.28 ---98,533.00 1,118.60 2.373 2.808 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ASR97 Agency CMO Federal Home Loan Mortgage Corporation 01/25/2022 02/27/2018 32,918.83 32,178.16 ---32,267.70 (46.01)1.573 2.755 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31392J6N4 Agency CMO Federal National Mortgage Association, Inc.04/25/2023 12/05/2017 507,895.52 552,529.81 ---524,828.76 (20,065.33)5.500 3.280 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377F2N0 Agency CMO The Government National Mortgage Association Guarant 06/20/2038 09/28/2018 45,628.85 45,550.43 ---45,580.48 43.48 3.000 2.799 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137A5FP4 Agency CMO Federal Home Loan Mortgage Corporation 01/15/2021 01/30/2018 65,017.01 65,179.56 ---64,641.87 (471.05)2.500 2.878 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378CDK0 Agency CMO The Government National Mortgage Association Guarant 03/20/2035 01/30/2018 98,620.22 99,529.37 ---98,561.05 (597.42)3.000 2.892 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378AWX5 Agency CMO The Government National Mortgage Association Guarant 01/20/2036 01/30/2018 153,417.10 154,903.33 ---153,475.40 (955.90)3.000 2.835 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38376PJ35 Agency CMO Government National Mortgage Association 05/16/2037 10/30/2018 81,364.06 81,643.75 ---81,475.53 (98.48)4.000 3.270 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377WL77 Agency CMO Government National Mortgage Association 01/20/2039 08/28/2018 5,992.11 5,965.90 ---5,981.27 13.93 2.000 2.977 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38379HLE3 Agency CMO The Government National Mortgage Association Guarant 05/20/2043 10/18/2018 87,954.33 87,830.64 ---89,315.86 1,493.81 3.500 2.774 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378VC45 Agency CMO The Government National Mortgage Association Guarant 12/16/2041 11/23/2018 71,428.88 68,850.74 ---69,619.58 788.63 2.250 3.097 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377JM59 Agency CMO The Government National Mortgage Association Guarant 10/20/2039 11/21/2018 41,338.39 40,304.94 ---40,447.13 145.02 2.500 3.451 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AH6C7 Agency CMO Federal Home Loan Mortgage Corporation 07/25/2021 11/29/2018 100,000.00 100,179.69 ---100,681.00 506.66 3.230 2.858 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AJMF8 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2021 11/29/2018 98,893.31 99,668.24 ---99,049.56 (592.21)2.968 2.838 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 383742C76 Agency CMO Government National Mortgage Association 08/16/2037 01/31/2018 80,377.02 82,386.45 ---81,909.01 (212.10)4.000 3.013 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31397QWZ7 Agency CMO Federal National Mortgage Association, Inc.09/25/2029 09/28/2018 73,978.48 74,625.79 ---74,495.58 8.52 4.000 2.965 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38375KCX8 Agency CMO Government National Mortgage Association 01/20/2037 09/18/2018 123,380.05 124,286.12 ---123,772.40 (162.11)5.500 3.293 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31397SE83 Agency CMO Federal National Mortgage Association, Inc.02/25/2039 01/30/2018 12,842.53 12,914.76 ---12,824.03 (10.56)4.000 2.864 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378DDC6 Agency CMO The Government National Mortgage Association Guarant 04/20/2038 06/20/2018 83,429.40 83,993.20 ---83,617.12 (217.57)3.500 2.994 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31397Q4Q8 Agency CMO Federal National Mortgage Association, Inc.03/25/2035 01/10/2018 39,535.30 39,868.88 ---39,470.06 (66.96)4.000 2.843 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377QTC1 Agency CMO The Government National Mortgage Association Guarant 12/16/2025 09/28/2018 40,051.15 47,402.49 ---40,024.32 (2,937.77)3.500 2.836 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B84S3 Agency CMO Federal Home Loan Mortgage Corporation 02/15/2029 01/31/2018 129,722.73 128,101.19 ---127,756.13 (556.90)2.000 2.807 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31398N2K9 Agency CMO Federal National Mortgage Association, Inc.11/25/2025 01/31/2018 4,021.64 4,036.72 ---4,013.68 (11.88)3.500 3.377 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38375JCJ2 Agency CMO Government National Mortgage Association 12/16/2037 01/31/2018 18,466.50 18,524.20 ---18,483.49 1.60 5.305 3.703 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136AMM48 Agency MBS Federal National Mortgage Association, Inc.07/25/2022 09/26/2018 97,459.41 96,002.92 ---96,728.46 621.65 2.509 2.819 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3620ARB67 Agency MBS Government National Mortgage Association 05/15/2025 05/23/2018 29,810.70 30,518.72 ---30,534.81 66.70 4.000 2.868 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381PTG3 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 11/08/2018 44,171.39 44,582.04 ---44,939.97 389.99 3.800 2.608 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381QB54 Agency MBS Federal National Mortgage Association, Inc.03/01/2021 11/07/2018 57,069.00 58,250.51 ---58,773.65 598.41 4.410 2.684 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3136AK2A0 Agency MBS Federal National Mortgage Association, Inc.09/25/2019 01/08/2018 205,263.84 204,951.38 ---203,964.52 (989.04)2.171 3.007 AAA 240907004 LC-RCTC Toll Revenue: - I-15 36225B5Y0 Agency MBS Government National Mortgage Association 06/15/2019 12/21/2017 1,062.45 1,074.41 ---1,061.83 (3.74)5.500 4.499 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31283K5N4 Agency MBS Federal Home Loan Mortgage Corporation 08/01/2020 12/05/2017 519,935.55 531,646.58 ---529,710.34 (11,237.37)5.000 1.848 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3138NJAE8 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 09/13/2018 39,845.49 40,306.21 ---40,427.63 93.78 3.630 2.693 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381N7G2 Agency MBS Federal National Mortgage Association, Inc.10/01/2020 09/25/2018 36,435.09 36,568.88 ---36,592.86 (80.74)3.270 2.918 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381RLL6 Agency MBS Federal National Mortgage Association, Inc.07/01/2021 11/02/2018 45,942.54 46,624.51 ---47,084.21 500.51 3.840 2.595 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B1U75 Agency MBS Federal Home Loan Mortgage Corporation 01/25/2023 02/27/2018 120,000.00 117,965.63 ---118,290.00 (12.35)2.522 2.923 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AXHN6 Agency MBS Federal Home Loan Mortgage Corporation 02/25/2022 01/25/2018 75,243.46 74,208.86 ---73,944.76 (450.65)1.749 2.786 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B1UF7 Agency MBS Federal Home Loan Mortgage Corporation 09/25/2022 01/25/2018 38,323.49 37,760.61 ---37,641.33 (211.49)1.785 2.748 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136A96F0 Agency MBS Federal National Mortgage Association, Inc.11/25/2022 02/27/2018 72,428.89 70,202.27 ---71,107.79 456.24 2.184 2.909 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136AC7J4 Agency MBS Federal National Mortgage Association, Inc.03/25/2023 02/21/2018 42,595.94 41,895.44 ---42,276.89 263.11 2.520 2.943 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B3NW4 Agency MBS Federal Home Loan Mortgage Corporation 09/25/2022 09/26/2018 101,825.27 100,950.22 ---101,311.06 327.41 2.778 2.966 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3137B2GW4 Agency MBS Federal Home Loan Mortgage Corporation 03/25/2020 06/29/2018 585,130.55 581,336.35 ---580,853.25 (1,373.88)2.313 2.891 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3620A9WV9 Agency MBS Government National Mortgage Association 12/15/2024 05/23/2018 14,321.22 14,634.50 ---14,690.85 80.43 4.000 2.745 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31418ASD1 Agency MBS Federal National Mortgage Association, Inc.04/01/2023 01/31/2018 75,534.38 74,800.80 ---74,362.09 (486.13)2.000 2.831 AAA 240907004 LC-RCTC Toll Revenue: - I-15 58769DAD2 Asset Backed Mercedes-Benz Auto Lease Trust 2017-A 03/16/2020 07/27/2017 965,000.00 965,942.38 ---962,105.00 (3,015.77)1.790 3.063 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65479AAD4 Asset Backed Nissan Auto Lease Trust 2017-A 04/15/2020 01/25/2018 850,000.00 846,115.23 ---845,758.50 (2,992.23)1.910 3.073 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478GAC4 Asset Backed Nissan Auto Receivables 2017-B Owner Trust 05/15/2020 06/29/2018 257,078.66 257,028.46 ---257,078.66 (131.53)2.555 2.638 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478DAD9 Asset Backed Nissan Auto Receivables 2018-A Owner Trust 05/16/2022 06/29/2018 600,000.00 596,906.25 ---597,144.00 (403.53)2.650 2.930 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05522RCQ9 Asset Backed BA Credit Card Trust 01/15/2019 03/21/2018 1,100,000.00 1,102,406.25 ---1,100,077.00 (186.36)2.835 2.665 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478AAD5 Asset Backed Nissan Auto Receivables 2015-C Owner Trust 05/15/2020 12/21/2017 208,278.88 207,587.33 ---207,616.55 (415.43)1.370 2.871 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05522RCV8 Asset Backed BA Credit Card Trust 05/15/2019 06/29/2018 750,000.00 751,611.33 ---750,487.50 (623.71)2.845 2.742 AAA 240907004 LC-RCTC Toll Revenue: - I-15 161571HC1 Asset Backed Chase Issuance Trust 06/17/2019 ---763,000.00 758,373.05 ---757,262.24 (4,556.22)1.370 3.015 AAA 240907004 LC-RCTC Toll Revenue: - I-15 161571HJ6 Asset Backed Chase Issuance Trust 01/15/2020 03/23/2018 500,000.00 501,347.66 ---500,245.00 (1,347.22)2.755 2.786 AAA 240907004 LC-RCTC Toll Revenue: - I-15 43814LAC3 Asset Backed Honda Auto Receivables 2015-4 Owner Trust 09/23/2019 07/24/2017 0.00 0.00 ---0.00 (0.00)1.230 1.945 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65477XAE4 Asset Backed Nissan Auto Lease Trust 2016-B 01/18/2022 04/13/2018 350,198.14 347,380.15 ---349,767.40 (53.20)1.610 3.055 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05582XAD4 Asset Backed Bmw Vehicle Lease Trust 2016-2 09/20/2019 07/27/2017 278,023.75 277,448.16 ---277,609.50 (385.51)1.430 2.964 AAA 240907004 LC-RCTC Toll Revenue: - I-15 58768MAC5 Asset Backed Mercedes-Benz Auto Lease Trust 2016-B 08/15/2019 ---74,911.32 74,698.33 ---74,873.87 (31.85)1.350 2.474 AAA 240907004 LC-RCTC Toll Revenue: - I-15 02587AAJ3 Asset Backed American Express Credit Account Master Trust 02/18/2020 06/29/2018 650,000.00 640,351.56 ---642,310.50 (937.06)1.930 3.007 AAA 240907004 LC-RCTC Toll Revenue: - I-15 02582JGN4 Asset Backed American Express Credit Account Master Trust 05/15/2019 01/16/2018 252,000.00 252,885.94 ---252,163.80 (394.75)2.825 2.722 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 62888VAA6 CMO NCUA Guaranteed Notes Trust 2011-R1 10/07/2020 01/30/2018 40,978.59 41,106.65 ---41,029.40 (33.43)2.768 2.936 AAA 240907004 LC-RCTC Toll Revenue: - I-15 780082AA1 Corporate Royal Bank of Canada 02/05/2020 07/26/2017 1,500,000.00 1,497,390.00 ---1,484,370.00 (14,467.13)1.875 2.848 AAA 240907004 LC-RCTC Toll Revenue: - I-15 064159HC3 Corporate The Bank of Nova Scotia 01/15/2019 01/23/2018 400,000.00 399,504.00 ---399,848.00 (132.54)1.950 2.902 AA 240907004 LC-RCTC Toll Revenue: - I-15 89114QBE7 Corporate The Toronto-Dominion Bank 01/22/2019 01/23/2018 370,000.00 369,463.50 ---369,781.70 (187.29)1.950 2.938 AA 240907004 LC-RCTC Toll Revenue: - I-15 24422ETJ8 Corporate John Deere Capital Corporation 10/09/2019 07/26/2017 1,125,000.00 1,114,650.00 ---1,109,441.25 (11,845.92)1.250 3.074 A 240907004 LC-RCTC Toll Revenue: - I-15 06367TPX2 Corporate Bank of Montreal 12/12/2019 07/26/2017 1,000,000.00 1,005,160.00 ---990,510.00 (11,603.46)2.100 3.124 AA 240907004 LC-RCTC Toll Revenue: - I-15 14912L6Y2 Corporate Caterpillar Financial Services Corporation 01/10/2020 07/26/2017 1,000,000.00 1,008,020.00 ---990,240.00 (13,199.74)2.100 3.074 A 240907004 LC-RCTC Toll Revenue: - I-15 375558BQ5 Corporate Gilead Sciences, Inc.09/20/2019 ---1,495,000.00 1,496,206.00 ---1,493,445.20 (2,266.45)3.042 3.215 A 240907004 LC-RCTC Toll Revenue: - I-15 0258M0DK2 Corporate American Express Credit Corporation 03/18/2019 07/25/2017 1,000,000.00 1,006,560.00 ---998,370.00 (2,495.42)2.125 2.874 A 240907004 LC-RCTC Toll Revenue: - I-15 172967HM6 Corporate Citigroup Inc.04/08/2019 07/25/2017 1,000,000.00 1,010,110.00 ---998,570.00 (3,069.50)2.550 3.067 BBB 240907004 LC-RCTC Toll Revenue: - I-15 31677QBB4 Corporate Fifth Third Bank 04/25/2019 06/29/2018 1,000,000.00 997,590.00 03/25/2019 997,940.00 (1,132.79)2.375 3.019 A 240907004 LC-RCTC Toll Revenue: - I-15 22546QAN7 Corporate Credit Suisse AG 05/28/2019 07/26/2017 1,000,000.00 1,009,340.00 ---997,040.00 (5,090.82)2.300 3.027 A 240907004 LC-RCTC Toll Revenue: - I-15 89114QAS7 Corporate The Toronto-Dominion Bank 07/02/2019 07/27/2017 1,000,000.00 1,007,670.00 ---996,250.00 (5,808.51)2.125 2.882 AA 240907004 LC-RCTC Toll Revenue: - I-15 46625HKA7 Corporate JPMorgan Chase & Co.01/23/2020 07/25/2017 500,000.00 503,005.00 12/23/2019 495,020.00 (6,236.89)2.250 3.211 A 240907004 LC-RCTC Toll Revenue: - I-15 0258M0EE5 Corporate American Express Credit Corporation 03/03/2020 07/25/2017 500,000.00 503,990.00 02/01/2020 494,625.00 (7,138.72)2.200 3.140 A 2017 Financing STAMP Portfolio by Investment Category for quarter ended December 31, 2018 ATTACHMENT 8 30 Page 15 of 34 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating 2017 Financing STAMP Portfolio by Investment Category for quarter ended December 31, 2018 240907004 LC-RCTC Toll Revenue: - I-15 718172BF5 Corporate Philip Morris International Inc.01/15/2019 07/26/2017 1,000,000.00 1,003,040.00 ---999,550.00 (531.43)1.875 3.007 A 240907004 LC-RCTC Toll Revenue: - I-15 61746BDM5 Corporate Morgan Stanley 01/24/2019 ---1,500,000.00 1,508,405.00 ---1,499,385.00 (934.05)2.500 3.109 A 240907004 LC-RCTC Toll Revenue: - I-15 90261XHE5 Corporate UBS AG 08/14/2019 07/25/2017 850,000.00 857,505.50 ---846,557.50 (5,781.24)2.375 3.037 AA 240907004 LC-RCTC Toll Revenue: - I-15 06416CAA6 Corporate The Bank of Nova Scotia 09/11/2019 10/04/2018 1,525,000.00 1,514,645.25 ---1,517,085.25 (148.73)2.125 2.883 AAA 240907004 LC-RCTC Toll Revenue: - I-15 40428HPN6 Corporate HSBC USA Inc.11/13/2019 07/26/2017 1,000,000.00 1,010,720.00 ---993,630.00 (10,526.34)2.375 3.124 A 240907004 LC-RCTC Toll Revenue: - I-15 17401QAB7 Corporate Citizens Bank, National Association 12/04/2019 07/26/2017 1,000,000.00 1,008,450.00 11/04/2019 992,910.00 (10,317.34)2.450 3.233 A 240907004 LC-RCTC Toll Revenue: - I-15 61747YDW2 Corporate Morgan Stanley 01/27/2020 07/25/2017 500,000.00 506,130.00 ---496,245.00 (6,455.40)2.650 3.368 A 240907004 LC-RCTC Toll Revenue: - I-15 69353REV6 Corporate PNC Bank, National Association 03/04/2019 07/26/2017 1,000,000.00 1,003,210.00 02/02/2019 998,260.00 (1,930.72)1.950 2.931 A 240907004 LC-RCTC Toll Revenue: - I-15 07330NAL9 Corporate Branch Banking and Trust Company 05/10/2019 07/27/2017 1,000,000.00 995,340.00 04/10/2019 994,200.00 (4,843.99)1.450 3.080 A 240907004 LC-RCTC Toll Revenue: - I-15 49327M2P8 Corporate KeyBank National Association 08/22/2019 07/24/2017 1,000,000.00 995,550.00 ---991,100.00 (7,482.41)1.600 3.009 A 240907004 LC-RCTC Toll Revenue: - I-15 46625HHL7 Corporate JPMorgan Chase & Co.04/23/2019 07/25/2017 1,000,000.00 1,075,520.00 ---1,009,780.00 (3,996.48)6.300 3.089 A 240907004 LC-RCTC Toll Revenue: - I-15 38141EA58 Corporate The Goldman Sachs Group, Inc.03/15/2020 07/26/2017 500,000.00 540,800.00 ---511,180.00 (7,951.77)5.375 3.461 A 240907004 LC-RCTC Toll Revenue: - I-15 172967JJ1 Corporate Citigroup Inc.02/18/2020 07/25/2017 500,000.00 503,600.00 ---495,460.00 (6,175.23)2.400 3.223 BBB 240907004 LC-RCTC Toll Revenue: - I-15 06051GFN4 Corporate Bank of America Corporation 04/21/2020 12/04/2017 1,000,000.00 997,850.00 ---989,310.00 (9,503.89)2.250 3.090 A 240907004 LC-RCTC Toll Revenue: - I-15 17275RBG6 Corporate Cisco Systems, Inc.09/20/2019 06/29/2018 1,050,000.00 1,035,184.50 ---1,040,581.50 (646.75)1.400 2.665 AA 240907004 LC-RCTC Toll Revenue: - I-15 07274MN76 CP Bayerische Landesbank 01/07/2019 12/10/2018 1,500,000.00 1,497,013.33 ---1,499,445.00 85.00 0.000 2.233 AAA 240907004 LC-RCTC Toll Revenue: - I-15 93884FN99 CP Washington Gas Light Company 01/09/2019 12/04/2018 1,500,000.00 1,495,725.00 ---1,499,235.00 185.00 0.000 2.309 AAA 240907004 LC-RCTC Toll Revenue: - I-15 02360SN46 CP Ameren Corporation 01/04/2019 12/06/2018 1,500,000.00 1,496,640.84 ---1,499,775.00 122.50 0.000 1.808 AA 240907004 LC-RCTC Toll Revenue: - I-15 14912EN29 CP Caterpillar Financial Services Corporation 01/02/2019 12/13/2018 1,500,000.00 1,498,346.67 ---1,500,000.00 103.33 0.000 0.000 AA 240907004 LC-RCTC Toll Revenue: - I-15 69372BNQ9 CP PACCAR Financial Corp.01/24/2019 12/19/2018 1,500,000.00 1,496,265.00 ---1,497,585.00 (28.75)0.000 2.538 AAA 240907004 LC-RCTC Toll Revenue: - I-15 64587BN99 CP New Jersey Natural Gas Company 01/09/2019 12/19/2018 1,500,000.00 1,497,550.01 ---1,499,235.00 168.33 0.000 2.309 AAA 240907004 LC-RCTC Toll Revenue: - I-15 43357MNR7 CP Hitachi Capital America Corp.01/25/2019 12/26/2018 1,500,000.00 1,496,250.00 ---1,497,480.00 480.00 0.000 2.538 AA 240907004 LC-RCTC Toll Revenue: - I-15 63743DN98 CP National Rural Utilities Cooperative Finance Corporation 01/09/2019 12/13/2018 1,500,000.00 1,497,243.75 ---1,499,235.00 51.67 0.000 2.309 AAA 240907004 LC-RCTC Toll Revenue: - I-15 78355BN24 CP Ryder System, Inc.01/02/2019 12/11/2018 1,500,000.00 1,497,433.33 ---1,500,000.00 116.67 0.000 0.000 AA 240907004 LC-RCTC Toll Revenue: - I-15 97684HN80 CP Wisconsin Public Service Corporation 01/08/2019 12/11/2018 1,500,000.00 1,496,733.33 ---1,499,340.00 156.67 0.000 2.276 AAA 240907004 LC-RCTC Toll Revenue: - I-15 50000ENB6 CP Koch Industries, Inc.01/11/2019 12/13/2018 1,500,000.00 1,497,118.34 ---1,499,010.00 39.16 0.000 2.391 AAA 240907004 LC-RCTC Toll Revenue: - I-15 34108BNF8 CP Florida Power & Light Company 01/15/2019 12/12/2018 1,500,000.00 1,496,218.75 ---1,498,575.00 179.17 0.000 2.459 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31846V203 MM Fund First American Funds, Inc.12/31/2018 ---0.00 2,384,289.16 ---2,384,289.16 0.00 2.170 2.010 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31846V203 MM Fund First American Funds, Inc.12/31/2018 ---0.00 32,428.32 ---32,428.32 0.00 2.170 2.010 AAA 240907004 LC-RCTC Toll Revenue: - I-15 70914PPD8 Muni Pennsylvania, Commonwealth of 07/15/2019 09/18/2018 305,000.00 308,080.50 ---307,000.80 (35.16)4.050 2.813 AA 240907004 LC-RCTC Toll Revenue: - I-15 392274A89 Muni Greater Orlando Aviation Authority 10/01/2019 07/26/2017 700,000.00 724,094.00 ---702,296.00 (6,204.89)3.483 3.033 AA 240907004 LC-RCTC Toll Revenue: - I-15 355185PF0 Muni Franklin, City of 03/01/2019 04/18/2018 375,000.00 375,000.00 01/31/2019 374,902.50 (97.50)2.500 2.552 AA 240907004 LC-RCTC Toll Revenue: - I-15 64972HV66 Muni New York City Transitional Finance Authority 07/15/2019 10/17/2018 665,000.00 664,507.90 ---664,753.95 118.82 2.900 2.968 AA 240907004 LC-RCTC Toll Revenue: - I-15 459058GK3 Non-US Gov International Bank for Reconstruction and Development 08/21/2020 ---1,510,000.00 1,510,367.00 ---1,509,501.70 (811.77)2.680 2.737 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828UH1 TIPS Treasury, United States Department of 01/15/2023 02/05/2018 82,164.00 81,093.39 ---79,358.10 (1,928.59)0.125 0.988 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828SA9 TIPS Treasury, United States Department of 01/15/2022 ---323,999.60 321,638.58 ---314,496.69 (7,696.27)0.125 1.107 AAA 240907004 LC-RCTC Toll Revenue: - I-15 912828Y53 US Gov Treasury, United States Department of 07/31/2020 ---4,650,000.00 4,651,924.41 ---4,647,582.00 (4,201.27)2.473 2.539 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828UF5 US Gov Treasury, United States Department of 12/31/2019 ---435,000.00 426,695.70 ---428,592.45 (1,356.75)1.125 2.627 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828B58 US Gov Treasury, United States Department of 44227 43286 320000 316212.5 ---317539.2 624.3806 2.125 2.50552 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 9128285H9 US Gov Treasury, United States Department of 10/31/2020 12/06/2018 550,000.00 549,984.67 ---549,169.50 (815.72)2.475 2.595 AAA 240907004 LC-RCTC Toll Revenue: - I-15 912828UF5 US Gov Treasury, United States Department of 12/31/2019 06/29/2018 3,700,000.00 3,627,156.25 ---3,645,499.00 (5,863.91)1.125 2.627 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828Y53 US Gov Treasury, United States Department of 07/31/2020 11/29/2018 400,000.00 400,142.18 ---399,792.00 (342.71)2.473 2.539 AAA 240907004 LC-RCTC Toll Revenue: - I-15 912828P53 US Gov Treasury, United States Department of 02/15/2019 07/16/2018 1,100,000.00 1,090,632.81 ---1,097,866.00 (158.37)0.750 2.300 AAA 240907004 LC-RCTC Toll Revenue: - I-15 9128285H9 US Gov Treasury, United States Department of 10/31/2020 12/06/2018 5,300,000.00 5,299,852.27 ---5,291,997.00 (7,860.59)2.475 2.595 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828VA5 US Gov Treasury, United States Department of 04/30/2020 ---665,000.00 648,627.54 ---652,478.05 (286.19)1.125 2.572 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828VV9 US Gov Treasury, United States Department of 08/31/2020 ---775,000.00 766,685.54 ---769,854.00 1,619.37 2.125 2.534 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828P53 US Gov Treasury, United States Department of 02/15/2019 07/16/2018 240,000.00 237,956.25 ---239,534.40 (34.55)0.750 2.300 AAA 240907004 LC-RCTC Toll Revenue: - I-15 64986U4H7 VRDN New York State Housing Finance Agency 11/01/2048 07/02/2018 1,400,000.00 1,400,000.00 01/16/2019 1,400,000.00 0.00 2.480 2.480 AA 81,849,305.02 84,337,745.39 84,019,576.43 (245,003.77) 31 Page 16 of 34 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating 240907004 LC-RCTC Toll Revenue: - I-15 3135G0U68 Agency Federal National Mortgage Association, Inc.10/30/2019 10/25/2018 375,000.00 375,000.00 ---374,958.75 (41.25)2.530 2.518 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31397Q4Q8 Agency CMO Federal National Mortgage Association, Inc.03/25/2035 01/10/2018 39,535.30 39,868.88 ---39,470.06 (66.96)4.000 2.843 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3136AK2A0 Agency MBS Federal National Mortgage Association, Inc.09/25/2019 01/08/2018 205,263.84 204,951.38 ---203,964.52 (989.04)2.171 3.007 AAA 240907004 LC-RCTC Toll Revenue: - I-15 36225B5Y0 Agency MBS Government National Mortgage Association 06/15/2019 12/21/2017 1,062.45 1,074.41 ---1,061.83 (3.74)5.500 4.499 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3137B2GW4 Agency MBS Federal Home Loan Mortgage Corporation 03/25/2020 06/29/2018 585,130.55 581,336.35 ---580,853.25 (1,373.88)2.313 2.891 AAA 240907004 LC-RCTC Toll Revenue: - I-15 58769DAD2 Asset Backed Mercedes-Benz Auto Lease Trust 2017-A 03/16/2020 07/27/2017 965,000.00 965,942.38 ---962,105.00 (3,015.77)1.790 3.063 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65479AAD4 Asset Backed Nissan Auto Lease Trust 2017-A 04/15/2020 01/25/2018 850,000.00 846,115.23 ---845,758.50 (2,992.23)1.910 3.073 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478GAC4 Asset Backed Nissan Auto Receivables 2017-B Owner Trust 05/15/2020 06/29/2018 257,078.66 257,028.46 ---257,078.66 (131.53)2.555 2.638 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478DAD9 Asset Backed Nissan Auto Receivables 2018-A Owner Trust 05/16/2022 06/29/2018 600,000.00 596,906.25 ---597,144.00 (403.53)2.650 2.930 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05522RCQ9 Asset Backed BA Credit Card Trust 01/15/2019 03/21/2018 1,100,000.00 1,102,406.25 ---1,100,077.00 (186.36)2.835 2.665 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478AAD5 Asset Backed Nissan Auto Receivables 2015-C Owner Trust 05/15/2020 12/21/2017 208,278.88 207,587.33 ---207,616.55 (415.43)1.370 2.871 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05522RCV8 Asset Backed BA Credit Card Trust 05/15/2019 06/29/2018 750,000.00 751,611.33 ---750,487.50 (623.71)2.845 2.742 AAA 240907004 LC-RCTC Toll Revenue: - I-15 161571HC1 Asset Backed Chase Issuance Trust 06/17/2019 ---763,000.00 758,373.05 ---757,262.24 (4,556.22)1.370 3.015 AAA 240907004 LC-RCTC Toll Revenue: - I-15 161571HJ6 Asset Backed Chase Issuance Trust 01/15/2020 03/23/2018 500,000.00 501,347.66 ---500,245.00 (1,347.22)2.755 2.786 AAA 240907004 LC-RCTC Toll Revenue: - I-15 43814LAC3 Asset Backed Honda Auto Receivables 2015-4 Owner Trust 09/23/2019 07/24/2017 0.00 0.00 ---0.00 (0.00)1.230 1.945 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65477XAE4 Asset Backed Nissan Auto Lease Trust 2016-B 01/18/2022 04/13/2018 350,198.14 347,380.15 ---349,767.40 (53.20)1.610 3.055 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05582XAD4 Asset Backed Bmw Vehicle Lease Trust 2016-2 09/20/2019 07/27/2017 278,023.75 277,448.16 ---277,609.50 (385.51)1.430 2.964 AAA 240907004 LC-RCTC Toll Revenue: - I-15 58768MAC5 Asset Backed Mercedes-Benz Auto Lease Trust 2016-B 08/15/2019 ---74,911.32 74,698.33 ---74,873.87 (31.85)1.350 2.474 AAA 240907004 LC-RCTC Toll Revenue: - I-15 02587AAJ3 Asset Backed American Express Credit Account Master Trust 02/18/2020 06/29/2018 650,000.00 640,351.56 ---642,310.50 (937.06)1.930 3.007 AAA 240907004 LC-RCTC Toll Revenue: - I-15 02582JGN4 Asset Backed American Express Credit Account Master Trust 05/15/2019 01/16/2018 252,000.00 252,885.94 ---252,163.80 (394.75)2.825 2.722 AAA 240907004 LC-RCTC Toll Revenue: - I-15 780082AA1 Corporate Royal Bank of Canada 02/05/2020 07/26/2017 1,500,000.00 1,497,390.00 ---1,484,370.00 (14,467.13)1.875 2.848 AAA 240907004 LC-RCTC Toll Revenue: - I-15 064159HC3 Corporate The Bank of Nova Scotia 01/15/2019 01/23/2018 400,000.00 399,504.00 ---399,848.00 (132.54)1.950 2.902 AA 240907004 LC-RCTC Toll Revenue: - I-15 89114QBE7 Corporate The Toronto-Dominion Bank 01/22/2019 01/23/2018 370,000.00 369,463.50 ---369,781.70 (187.29)1.950 2.938 AA 240907004 LC-RCTC Toll Revenue: - I-15 24422ETJ8 Corporate John Deere Capital Corporation 10/09/2019 07/26/2017 1,125,000.00 1,114,650.00 ---1,109,441.25 (11,845.92)1.250 3.074 A 240907004 LC-RCTC Toll Revenue: - I-15 06367TPX2 Corporate Bank of Montreal 12/12/2019 07/26/2017 1,000,000.00 1,005,160.00 ---990,510.00 (11,603.46)2.100 3.124 AA 240907004 LC-RCTC Toll Revenue: - I-15 14912L6Y2 Corporate Caterpillar Financial Services Corporation 01/10/2020 07/26/2017 1,000,000.00 1,008,020.00 ---990,240.00 (13,199.74)2.100 3.074 A 240907004 LC-RCTC Toll Revenue: - I-15 375558BQ5 Corporate Gilead Sciences, Inc.09/20/2019 ---1,495,000.00 1,496,206.00 ---1,493,445.20 (2,266.45)3.042 3.215 A 240907004 LC-RCTC Toll Revenue: - I-15 0258M0DK2 Corporate American Express Credit Corporation 03/18/2019 07/25/2017 1,000,000.00 1,006,560.00 ---998,370.00 (2,495.42)2.125 2.874 A 240907004 LC-RCTC Toll Revenue: - I-15 172967HM6 Corporate Citigroup Inc.04/08/2019 07/25/2017 1,000,000.00 1,010,110.00 ---998,570.00 (3,069.50)2.550 3.067 BBB 240907004 LC-RCTC Toll Revenue: - I-15 31677QBB4 Corporate Fifth Third Bank 04/25/2019 06/29/2018 1,000,000.00 997,590.00 03/25/2019 997,940.00 (1,132.79)2.375 3.019 A 240907004 LC-RCTC Toll Revenue: - I-15 22546QAN7 Corporate Credit Suisse AG 05/28/2019 07/26/2017 1,000,000.00 1,009,340.00 ---997,040.00 (5,090.82)2.300 3.027 A 240907004 LC-RCTC Toll Revenue: - I-15 89114QAS7 Corporate The Toronto-Dominion Bank 07/02/2019 07/27/2017 1,000,000.00 1,007,670.00 ---996,250.00 (5,808.51)2.125 2.882 AA 240907004 LC-RCTC Toll Revenue: - I-15 46625HKA7 Corporate JPMorgan Chase & Co.01/23/2020 07/25/2017 500,000.00 503,005.00 12/23/2019 495,020.00 (6,236.89)2.250 3.211 A 240907004 LC-RCTC Toll Revenue: - I-15 0258M0EE5 Corporate American Express Credit Corporation 03/03/2020 07/25/2017 500,000.00 503,990.00 02/01/2020 494,625.00 (7,138.72)2.200 3.140 A 240907004 LC-RCTC Toll Revenue: - I-15 718172BF5 Corporate Philip Morris International Inc.01/15/2019 07/26/2017 1,000,000.00 1,003,040.00 ---999,550.00 (531.43)1.875 3.007 A 240907004 LC-RCTC Toll Revenue: - I-15 61746BDM5 Corporate Morgan Stanley 01/24/2019 ---1,500,000.00 1,508,405.00 ---1,499,385.00 (934.05)2.500 3.109 A 240907004 LC-RCTC Toll Revenue: - I-15 90261XHE5 Corporate UBS AG 08/14/2019 07/25/2017 850,000.00 857,505.50 ---846,557.50 (5,781.24)2.375 3.037 AA 240907004 LC-RCTC Toll Revenue: - I-15 06416CAA6 Corporate The Bank of Nova Scotia 09/11/2019 10/04/2018 1,525,000.00 1,514,645.25 ---1,517,085.25 (148.73)2.125 2.883 AAA 240907004 LC-RCTC Toll Revenue: - I-15 40428HPN6 Corporate HSBC USA Inc.11/13/2019 07/26/2017 1,000,000.00 1,010,720.00 ---993,630.00 (10,526.34)2.375 3.124 A 240907004 LC-RCTC Toll Revenue: - I-15 17401QAB7 Corporate Citizens Bank, National Association 12/04/2019 07/26/2017 1,000,000.00 1,008,450.00 11/04/2019 992,910.00 (10,317.34)2.450 3.233 A 240907004 LC-RCTC Toll Revenue: - I-15 61747YDW2 Corporate Morgan Stanley 01/27/2020 07/25/2017 500,000.00 506,130.00 ---496,245.00 (6,455.40)2.650 3.368 A 240907004 LC-RCTC Toll Revenue: - I-15 69353REV6 Corporate PNC Bank, National Association 03/04/2019 07/26/2017 1,000,000.00 1,003,210.00 02/02/2019 998,260.00 (1,930.72)1.950 2.931 A 240907004 LC-RCTC Toll Revenue: - I-15 07330NAL9 Corporate Branch Banking and Trust Company 05/10/2019 07/27/2017 1,000,000.00 995,340.00 04/10/2019 994,200.00 (4,843.99)1.450 3.080 A 240907004 LC-RCTC Toll Revenue: - I-15 49327M2P8 Corporate KeyBank National Association 08/22/2019 07/24/2017 1,000,000.00 995,550.00 ---991,100.00 (7,482.41)1.600 3.009 A 240907004 LC-RCTC Toll Revenue: - I-15 46625HHL7 Corporate JPMorgan Chase & Co.04/23/2019 07/25/2017 1,000,000.00 1,075,520.00 ---1,009,780.00 (3,996.48)6.300 3.089 A 240907004 LC-RCTC Toll Revenue: - I-15 38141EA58 Corporate The Goldman Sachs Group, Inc.03/15/2020 07/26/2017 500,000.00 540,800.00 ---511,180.00 (7,951.77)5.375 3.461 A 240907004 LC-RCTC Toll Revenue: - I-15 172967JJ1 Corporate Citigroup Inc.02/18/2020 07/25/2017 500,000.00 503,600.00 ---495,460.00 (6,175.23)2.400 3.223 BBB 240907004 LC-RCTC Toll Revenue: - I-15 06051GFN4 Corporate Bank of America Corporation 04/21/2020 12/04/2017 1,000,000.00 997,850.00 ---989,310.00 (9,503.89)2.250 3.090 A 240907004 LC-RCTC Toll Revenue: - I-15 17275RBG6 Corporate Cisco Systems, Inc.09/20/2019 06/29/2018 1,050,000.00 1,035,184.50 ---1,040,581.50 (646.75)1.400 2.665 AA 240907004 LC-RCTC Toll Revenue: - I-15 07274MN76 CP Bayerische Landesbank 01/07/2019 12/10/2018 1,500,000.00 1,497,013.33 ---1,499,445.00 85.00 0.000 2.233 AAA 240907004 LC-RCTC Toll Revenue: - I-15 93884FN99 CP Washington Gas Light Company 01/09/2019 12/04/2018 1,500,000.00 1,495,725.00 ---1,499,235.00 185.00 0.000 2.309 AAA 240907004 LC-RCTC Toll Revenue: - I-15 02360SN46 CP Ameren Corporation 01/04/2019 12/06/2018 1,500,000.00 1,496,640.84 ---1,499,775.00 122.50 0.000 1.808 AA 240907004 LC-RCTC Toll Revenue: - I-15 14912EN29 CP Caterpillar Financial Services Corporation 01/02/2019 12/13/2018 1,500,000.00 1,498,346.67 ---1,500,000.00 103.33 0.000 0.000 AA 240907004 LC-RCTC Toll Revenue: - I-15 69372BNQ9 CP PACCAR Financial Corp.01/24/2019 12/19/2018 1,500,000.00 1,496,265.00 ---1,497,585.00 (28.75)0.000 2.538 AAA 240907004 LC-RCTC Toll Revenue: - I-15 64587BN99 CP New Jersey Natural Gas Company 01/09/2019 12/19/2018 1,500,000.00 1,497,550.01 ---1,499,235.00 168.33 0.000 2.309 AAA 240907004 LC-RCTC Toll Revenue: - I-15 43357MNR7 CP Hitachi Capital America Corp.01/25/2019 12/26/2018 1,500,000.00 1,496,250.00 ---1,497,480.00 480.00 0.000 2.538 AA 240907004 LC-RCTC Toll Revenue: - I-15 63743DN98 CP National Rural Utilities Cooperative Finance Corporation 01/09/2019 12/13/2018 1,500,000.00 1,497,243.75 ---1,499,235.00 51.67 0.000 2.309 AAA 240907004 LC-RCTC Toll Revenue: - I-15 78355BN24 CP Ryder System, Inc.01/02/2019 12/11/2018 1,500,000.00 1,497,433.33 ---1,500,000.00 116.67 0.000 0.000 AA 240907004 LC-RCTC Toll Revenue: - I-15 97684HN80 CP Wisconsin Public Service Corporation 01/08/2019 12/11/2018 1,500,000.00 1,496,733.33 ---1,499,340.00 156.67 0.000 2.276 AAA 240907004 LC-RCTC Toll Revenue: - I-15 50000ENB6 CP Koch Industries, Inc.01/11/2019 12/13/2018 1,500,000.00 1,497,118.34 ---1,499,010.00 39.16 0.000 2.391 AAA 240907004 LC-RCTC Toll Revenue: - I-15 34108BNF8 CP Florida Power & Light Company 01/15/2019 12/12/2018 1,500,000.00 1,496,218.75 ---1,498,575.00 179.17 0.000 2.459 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31846V203 MM Fund First American Funds, Inc.12/31/2018 ---0.00 2,384,289.16 ---2,384,289.16 0.00 2.170 2.010 AAA 240907004 LC-RCTC Toll Revenue: - I-15 70914PPD8 Muni Pennsylvania, Commonwealth of 07/15/2019 09/18/2018 305,000.00 308,080.50 ---307,000.80 (35.16)4.050 2.813 AA 240907004 LC-RCTC Toll Revenue: - I-15 392274A89 Muni Greater Orlando Aviation Authority 10/01/2019 07/26/2017 700,000.00 724,094.00 ---702,296.00 (6,204.89)3.483 3.033 AA 240907004 LC-RCTC Toll Revenue: - I-15 355185PF0 Muni Franklin, City of 03/01/2019 04/18/2018 375,000.00 375,000.00 01/31/2019 374,902.50 (97.50)2.500 2.552 AA 240907004 LC-RCTC Toll Revenue: - I-15 64972HV66 Muni New York City Transitional Finance Authority 07/15/2019 10/17/2018 665,000.00 664,507.90 ---664,753.95 118.82 2.900 2.968 AA 240907004 LC-RCTC Toll Revenue: - I-15 459058GK3 Non-US Gov International Bank for Reconstruction and Development 08/21/2020 ---1,510,000.00 1,510,367.00 ---1,509,501.70 (811.77)2.680 2.737 AAA 240907004 LC-RCTC Toll Revenue: - I-15 912828Y53 US Gov Treasury, United States Department of 07/31/2020 ---4,650,000.00 4,651,924.41 ---4,647,582.00 (4,201.27)2.473 2.539 AAA 240907004 LC-RCTC Toll Revenue: - I-15 912828UF5 US Gov Treasury, United States Department of 12/31/2019 06/29/2018 3,700,000.00 3,627,156.25 ---3,645,499.00 (5,863.91)1.125 2.627 AAA 240907004 LC-RCTC Toll Revenue: - I-15 912828P53 US Gov Treasury, United States Department of 02/15/2019 07/16/2018 1,100,000.00 1,090,632.81 ---1,097,866.00 (158.37)0.750 2.300 AAA 240907004 LC-RCTC Toll Revenue: - I-15 9128285H9 US Gov Treasury, United States Department of 10/31/2020 12/06/2018 5,300,000.00 5,299,852.27 ---5,291,997.00 (7,860.59)2.475 2.595 AAA 240907004 LC-RCTC Toll Revenue: - I-15 64986U4H7 VRDN New York State Housing Finance Agency 11/01/2048 07/02/2018 1,400,000.00 1,400,000.00 01/16/2019 1,400,000.00 0.00 2.480 2.480 AA 73,824,482.91 76,265,364.49 75,980,096.44 (203,306.08) 240907020 RCTC I-15 Prj RAMP UP RESERVE 3130AECJ7 Agency Council of Federal Home Loan Banks 05/28/2020 07/03/2018 350,000.00 350,150.50 ---350,504.00 386.83 2.625 2.519 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 150,000.00 150,075.00 02/23/2019 150,048.00 48.00 3.000 2.748 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3130AAMQ8 Agency Federal Home Loan Banks Office of Finance 01/18/2019 12/27/2018 225,000.00 224,841.60 ---224,885.25 13.48 1.250 2.318 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ATRW4 Agency CMO Federal Home Loan Mortgage Corporation 05/25/2022 09/26/2018 100,000.00 97,238.28 ---98,533.00 1,118.60 2.373 2.808 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ASR97 Agency CMO Federal Home Loan Mortgage Corporation 01/25/2022 02/27/2018 32,918.83 32,178.16 ---32,267.70 (46.01)1.573 2.755 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31392J6N4 Agency CMO Federal National Mortgage Association, Inc.04/25/2023 12/05/2017 507,895.52 552,529.81 ---524,828.76 (20,065.33)5.500 3.280 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377F2N0 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 06/20/2038 09/28/2018 45,628.85 45,550.43 ---45,580.48 43.48 3.000 2.799 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137A5FP4 Agency CMO Federal Home Loan Mortgage Corporation 01/15/2021 01/30/2018 65,017.01 65,179.56 ---64,641.87 (471.05)2.500 2.878 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378CDK0 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 03/20/2035 01/30/2018 98,620.22 99,529.37 ---98,561.05 (597.42)3.000 2.892 AAA 2017 Financing STAMP Portfolio by Account for quarter ended December 31, 2018 ATTACHMENT 9 32 Page 17 of 34 Source Account Account Identifier Security Type Category Issuer Final Maturity Trade Date Current Face Value Original Cost Next Call Date Base Market Value Base Net Total Unrealized Gain/Loss Coupon Yield Summarized Credit Rating 2017 Financing STAMP Portfolio by Account for quarter ended December 31, 2018 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378AWX5 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 01/20/2036 01/30/2018 153,417.10 154,903.33 ---153,475.40 (955.90)3.000 2.835 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38376PJ35 Agency CMO Government National Mortgage Association 05/16/2037 10/30/2018 81,364.06 81,643.75 ---81,475.53 (98.48)4.000 3.270 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377WL77 Agency CMO Government National Mortgage Association 01/20/2039 08/28/2018 5,992.11 5,965.90 ---5,981.27 13.93 2.000 2.977 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38379HLE3 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 05/20/2043 10/18/2018 87,954.33 87,830.64 ---89,315.86 1,493.81 3.500 2.774 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378VC45 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 12/16/2041 11/23/2018 71,428.88 68,850.74 ---69,619.58 788.63 2.250 3.097 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377JM59 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 10/20/2039 11/21/2018 41,338.39 40,304.94 ---40,447.13 145.02 2.500 3.451 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AH6C7 Agency CMO Federal Home Loan Mortgage Corporation 07/25/2021 11/29/2018 100,000.00 100,179.69 ---100,681.00 506.66 3.230 2.858 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AJMF8 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2021 11/29/2018 98,893.31 99,668.24 ---99,049.56 (592.21)2.968 2.838 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 383742C76 Agency CMO Government National Mortgage Association 08/16/2037 01/31/2018 80,377.02 82,386.45 ---81,909.01 (212.10)4.000 3.013 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31397QWZ7 Agency CMO Federal National Mortgage Association, Inc.09/25/2029 09/28/2018 73,978.48 74,625.79 ---74,495.58 8.52 4.000 2.965 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38375KCX8 Agency CMO Government National Mortgage Association 01/20/2037 09/18/2018 123,380.05 124,286.12 ---123,772.40 (162.11)5.500 3.293 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31397SE83 Agency CMO Federal National Mortgage Association, Inc.02/25/2039 01/30/2018 12,842.53 12,914.76 ---12,824.03 (10.56)4.000 2.864 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378DDC6 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 04/20/2038 06/20/2018 83,429.40 83,993.20 ---83,617.12 (217.57)3.500 2.994 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377QTC1 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 12/16/2025 09/28/2018 40,051.15 47,402.49 ---40,024.32 (2,937.77)3.500 2.836 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B84S3 Agency CMO Federal Home Loan Mortgage Corporation 02/15/2029 01/31/2018 129,722.73 128,101.19 ---127,756.13 (556.90)2.000 2.807 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31398N2K9 Agency CMO Federal National Mortgage Association, Inc.11/25/2025 01/31/2018 4,021.64 4,036.72 ---4,013.68 (11.88)3.500 3.377 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38375JCJ2 Agency CMO Government National Mortgage Association 12/16/2037 01/31/2018 18,466.50 18,524.20 ---18,483.49 1.60 5.305 3.703 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136AMM48 Agency MBS Federal National Mortgage Association, Inc.07/25/2022 09/26/2018 97,459.41 96,002.92 ---96,728.46 621.65 2.509 2.819 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3620ARB67 Agency MBS Government National Mortgage Association 05/15/2025 05/23/2018 29,810.70 30,518.72 ---30,534.81 66.70 4.000 2.868 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381PTG3 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 11/08/2018 44,171.39 44,582.04 ---44,939.97 389.99 3.800 2.608 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381QB54 Agency MBS Federal National Mortgage Association, Inc.03/01/2021 11/07/2018 57,069.00 58,250.51 ---58,773.65 598.41 4.410 2.684 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31283K5N4 Agency MBS Federal Home Loan Mortgage Corporation 08/01/2020 12/05/2017 519,935.55 531,646.58 ---529,710.34 (11,237.37)5.000 1.848 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3138NJAE8 Agency MBS Federal National Mortgage Association, Inc.12/01/2020 09/13/2018 39,845.49 40,306.21 ---40,427.63 93.78 3.630 2.693 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381N7G2 Agency MBS Federal National Mortgage Association, Inc.10/01/2020 09/25/2018 36,435.09 36,568.88 ---36,592.86 (80.74)3.270 2.918 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381RLL6 Agency MBS Federal National Mortgage Association, Inc.07/01/2021 11/02/2018 45,942.54 46,624.51 ---47,084.21 500.51 3.840 2.595 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B1U75 Agency MBS Federal Home Loan Mortgage Corporation 01/25/2023 02/27/2018 120,000.00 117,965.63 ---118,290.00 (12.35)2.522 2.923 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AXHN6 Agency MBS Federal Home Loan Mortgage Corporation 02/25/2022 01/25/2018 75,243.46 74,208.86 ---73,944.76 (450.65)1.749 2.786 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B1UF7 Agency MBS Federal Home Loan Mortgage Corporation 09/25/2022 01/25/2018 38,323.49 37,760.61 ---37,641.33 (211.49)1.785 2.748 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136A96F0 Agency MBS Federal National Mortgage Association, Inc.11/25/2022 02/27/2018 72,428.89 70,202.27 ---71,107.79 456.24 2.184 2.909 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136AC7J4 Agency MBS Federal National Mortgage Association, Inc.03/25/2023 02/21/2018 42,595.94 41,895.44 ---42,276.89 263.11 2.520 2.943 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B3NW4 Agency MBS Federal Home Loan Mortgage Corporation 09/25/2022 09/26/2018 101,825.27 100,950.22 ---101,311.06 327.41 2.778 2.966 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3620A9WV9 Agency MBS Government National Mortgage Association 12/15/2024 05/23/2018 14,321.22 14,634.50 ---14,690.85 80.43 4.000 2.745 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31418ASD1 Agency MBS Federal National Mortgage Association, Inc.04/01/2023 01/31/2018 75,534.38 74,800.80 ---74,362.09 (486.13)2.000 2.831 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 62888VAA6 CMO NCUA Guaranteed Notes Trust 2011-R1 10/07/2020 01/30/2018 40,978.59 41,106.65 ---41,029.40 (33.43)2.768 2.936 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31846V203 MM Fund First American Funds, Inc.12/31/2018 ---0.00 32,428.32 ---32,428.32 0.00 2.170 2.010 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828UH1 TIPS Treasury, United States Department of 01/15/2023 02/05/2018 82,164.00 81,093.39 ---79,358.10 (1,928.59)0.125 0.988 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828SA9 TIPS Treasury, United States Department of 01/15/2022 ---323,999.60 321,638.58 ---314,496.69 (7,696.27)0.125 1.107 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828UF5 US Gov Treasury, United States Department of 12/31/2019 ---435,000.00 426,695.70 ---428,592.45 (1,356.75)1.125 2.627 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828B58 US Gov Treasury, United States Department of 44227 43286 320000 316212.5 ---317539.2 624.3806 2.125 2.50552 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 9128285H9 US Gov Treasury, United States Department of 10/31/2020 12/06/2018 550,000.00 549,984.67 ---549,169.50 (815.72)2.475 2.595 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828Y53 US Gov Treasury, United States Department of 07/31/2020 11/29/2018 400,000.00 400,142.18 ---399,792.00 (342.71)2.473 2.539 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828VA5 US Gov Treasury, United States Department of 04/30/2020 ---665,000.00 648,627.54 ---652,478.05 (286.19)1.125 2.572 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828VV9 US Gov Treasury, United States Department of 08/31/2020 ---775,000.00 766,685.54 ---769,854.00 1,619.37 2.125 2.534 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828P53 US Gov Treasury, United States Department of 02/15/2019 07/16/2018 240,000.00 237,956.25 ---239,534.40 (34.55)0.750 2.300 AAA 8,024,822.11 8,072,380.90 8,039,479.99 (41,697.69) Total 81,849,305.02 84,337,745.39 84,019,576.43 (245,003.77)125 33 Page 18 of 34 Source Account Account Identifier Description Beginning Base Market Value Base Purchases Base Sales Base Maturities and Redemptions Base Paydowns Net Total Realized Gain/Loss Base Amortization/Ac cretion Base Change In Net Unrealized Gain/Loss Ending Base Market Value Ending Accrued Income Balance 240907004 LC-RCTC Toll Revenue: - I-15 46625HHL7 JPMORGAN CHASE & CO 1,019,800.00 - - - - - (11,277.83) 1,257.83 1,009,780.00 11,900.00 240907004 LC-RCTC Toll Revenue: - I-15 38141EA58 GOLDMAN SACHS GROUP INC 515,395.00 - - - - - (3,992.96) (222.04) 511,180.00 7,913.19 240907004 LC-RCTC Toll Revenue: - I-15 392274A89 GREATER ORLANDO AVIATION AUTH ORLANDO FLA ARPT FAC 702,968.00 - - - - - (2,857.73) 2,185.73 702,296.00 6,095.25 240907004 LC-RCTC Toll Revenue: - I-15 61746BDM5 MORGAN STANLEY 999,430.00 - - - - - (1,567.76) 1,727.76 999,590.00 10,902.78 240907004 LC-RCTC Toll Revenue: - I-15 172967HM6 CITIGROUP INC 998,960.00 - - - - - (1,553.22) 1,163.22 998,570.00 5,879.17 240907004 LC-RCTC Toll Revenue: - I-15 22546QAN7 CREDIT SUISSE AG (NEW YORK BRANCH)996,880.00 - - - - - (1,312.61) 1,472.61 997,040.00 2,108.33 240907004 LC-RCTC Toll Revenue: - I-15 40428HPN6 HSBC USA INC (NEW)993,380.00 - - - - - (1,200.56) 1,450.56 993,630.00 3,166.67 240907004 LC-RCTC Toll Revenue: - I-15 0258M0DK2 AMERICAN EXPRESS CREDIT CORP 997,820.00 - - - - - (1,047.61) 1,597.61 998,370.00 6,079.86 240907004 LC-RCTC Toll Revenue: - I-15 89114QAS7 TORONTO-DOMINION BANK 995,620.00 - - - - - (1,015.05) 1,645.05 996,250.00 10,565.97 240907004 LC-RCTC Toll Revenue: - I-15 17401QAB7 CITIZENS BANK NA 993,160.00 - - - - - (955.21) 705.21 992,910.00 1,837.50 240907004 LC-RCTC Toll Revenue: - I-15 05522RCQ9 BACCT 141 A 1,101,100.00 - - - - - (952.37) (70.63) 1,100,077.00 1,299.43 240907004 LC-RCTC Toll Revenue: - I-15 90261XHE5 UBS AG (STAMFORD BRANCH)846,515.00 - - - - - (936.43) 978.93 846,557.50 7,682.47 240907004 LC-RCTC Toll Revenue: - I-15 70914PPD8 PENNSYLVANIA (COMMONWEALTH OF)307,958.50 - - - - - (932.98) (24.72) 307,000.80 5,695.88 240907004 LC-RCTC Toll Revenue: - I-15 14912L6Y2 CATERPILLAR FINANCIAL SERVICES CORP 989,270.00 - - - - - (828.70) 1,798.70 990,240.00 9,975.00 240907004 LC-RCTC Toll Revenue: - I-15 61747YDW2 MORGAN STANLEY 496,795.00 - - - - - (621.22) 71.22 496,245.00 5,668.06 240907004 LC-RCTC Toll Revenue: - I-15 06367TPX2 BANK OF MONTREAL 990,450.00 - - - - - (555.97) 615.97 990,510.00 1,108.33 240907004 LC-RCTC Toll Revenue: - I-15 69353REV6 PNC BANK NA 997,260.00 - - - - - (548.33) 1,548.33 998,260.00 6,337.50 240907004 LC-RCTC Toll Revenue: - I-15 718172BF5 PHILIP MORRIS INTERNATIONAL INC 998,080.00 - - - - - (535.11) 2,005.11 999,550.00 8,645.83 240907004 LC-RCTC Toll Revenue: - I-15 0258M0EE5 AMERICAN EXPRESS CREDIT CORP 494,400.00 - - - - - (409.73) 634.73 494,625.00 3,605.56 240907004 LC-RCTC Toll Revenue: - I-15 172967JJ1 CITIGROUP INC 495,260.00 - - - - - (356.64) 556.64 495,460.00 4,433.33 240907004 LC-RCTC Toll Revenue: - I-15 46625HKA7 JPMORGAN CHASE & CO 494,885.00 - - - - - (316.61) 451.61 495,020.00 4,937.50 240907004 LC-RCTC Toll Revenue: - I-15 375558BQ5 GILEAD SCIENCES INC 901,071.00 - - - - - (249.89) (1,757.11) 899,064.00 912.60 240907004 LC-RCTC Toll Revenue: - I-15 05522RCV8 BACCT 161 A 751,485.00 - - - - - (147.20) (850.30) 750,487.50 889.10 240907004 LC-RCTC Toll Revenue: - I-15 912828Y53 UNITED STATES TREASURY - 4,201,757.02 - - - - (132.34) (3,808.68) 4,197,816.00 17,462.79 240907004 LC-RCTC Toll Revenue: - I-15 31397Q4Q8 FNR 10155B JA 141,775.52 - - - (102,121.23) (116.44) (113.23) 45.45 39,470.06 131.78 240907004 LC-RCTC Toll Revenue: - I-15 58769DAD2 MBALT 17A A3 961,043.50 - - - - - (100.31) 1,161.81 962,105.00 767.71 240907004 LC-RCTC Toll Revenue: - I-15 3137FBUW4 FHMS KP04 AG2 830,091.30 - - - (830,000.00) (1,439.17) (93.48) 1,441.35 - - 240907004 LC-RCTC Toll Revenue: - I-15 02582JGN4 AMXCA 141 A 252,488.88 - - - - - (85.00) (240.08) 252,163.80 296.64 240907004 LC-RCTC Toll Revenue: - I-15 86565BHK0 Sumitomo Mitsui Banking Corporation - 2,000,033.28 - (2,000,000.00) - - (33.28) - - - 240907004 LC-RCTC Toll Revenue: - I-15 3136AK2A0 FNA 14M10 AS2 219,889.51 - - - (16,126.70) 24.23 (29.87) 207.35 203,964.52 371.42 240907004 LC-RCTC Toll Revenue: - I-15 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 500,090.00 - - - - - (24.28) (230.72) 499,835.00 1,429.17 240907004 LC-RCTC Toll Revenue: - I-15 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM - 300,108.00 - - - - (12.88) (194.12) 299,901.00 857.50 240907004 LC-RCTC Toll Revenue: - I-15 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 185,033.30 - - - - - (9.31) (85.04) 184,938.95 528.79 240907004 LC-RCTC Toll Revenue: - I-15 912828Y53 UNITED STATES TREASURY - 450,167.39 - - - - (8.80) (392.59) 449,766.00 1,871.01 240907004 LC-RCTC Toll Revenue: - I-15 31398E2E3 FHMS K003 A4 52,661.37 - - - (52,629.26) (170.54) (8.37) 146.80 - - 240907004 LC-RCTC Toll Revenue: - I-15 36225B5Y0 GN 781763 9,216.42 - - - (8,154.44) (9.20) (3.92) 12.96 1,061.83 4.87 240907004 LC-RCTC Toll Revenue: - I-15 3137ANMN2 FHMS K707 A2 203,486.58 - - - (203,853.51) 199.36 (1.60) 169.17 - - 240907004 LC-RCTC Toll Revenue: - I-15 31846V203 FIRST AMER:GVT OBLG Y 718,035.82 83,350,381.22 (81,684,127.88) - - - - - 2,384,289.16 - 240907004 LC-RCTC Toll Revenue: - I-15 97689P2K3 WISCONSIN HSG & ECONOMIC DEV AUTH HOME OWNERSHIP R 1,400,000.00 - (1,400,000.00) - - - - - - - 240907004 LC-RCTC Toll Revenue: - I-15 3137AL6V6 FHMS K706 A2 226,760.08 - - - (227,141.61) (0.07) - 381.60 - - 240907004 LC-RCTC Toll Revenue: - I-15 3137ANMN2 FHMS K707 A2 461,882.24 (461,919.83) - - - - - 37.59 - - 240907004 LC-RCTC Toll Revenue: - I-15 78011DAF1 ROYAL BANK OF CANADA 850,000.00 - - (850,000.00) - - - - - - 240907004 LC-RCTC Toll Revenue: - I-15 64986U4H7 NEW YORK ST HSG FIN AGY REV 1,400,000.00 - - - - - - - 1,400,000.00 2,531.89 240907004 LC-RCTC Toll Revenue: - I-15 43814LAC3 HAROT 154 A3 0.02 - - - (0.01) (0.00) - - 0.00 - 240907004 LC-RCTC Toll Revenue: - I-15 196479YN3 COLORADO HSG & FIN AUTH 750,000.00 - (750,000.00) - - - - - - - 240907004 LC-RCTC Toll Revenue: - I-15 90290XAD9 USAOT 151 A4 0.01 - - - (0.01) (0.00) - 0.00 - - 240907004 LC-RCTC Toll Revenue: - I-15 375558BQ5 GILEAD SCIENCES INC 595,708.05 - - - - - - (1,326.85) 594,381.20 603.33 240907004 LC-RCTC Toll Revenue: - I-15 47788CAA0 JDOT 2018 A1 472,167.46 - - - (472,280.81) 0.00 - 113.35 - - 240907004 LC-RCTC Toll Revenue: - I-15 355185PF0 FRANKLIN WIS 374,917.50 - - - - - - (15.00) 374,902.50 3,125.00 240907004 LC-RCTC Toll Revenue: - I-15 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 525,094.50 - - - - - - (267.75) 524,826.75 1,500.63 240907004 LC-RCTC Toll Revenue: - I-15 64105SK15 Nestle Finance International Ltd.1,900,000.00 - - (1,900,000.00) - - - - - - 240907004 LC-RCTC Toll Revenue: - I-15 3135G0U68 FEDERAL NATIONAL MORTGAGE ASSOCIATION - 375,000.00 - - - - - (41.25) 374,958.75 1,507.40 240907004 LC-RCTC Toll Revenue: - I-15 90290XAD9 USAOT 151 A4 - 1,206,582.31 - - (1,207,336.88) 754.42 0.15 - - - 240907004 LC-RCTC Toll Revenue: - I-15 3137ANMN2 FHMS K707 A2 - 340,096.61 - - (340,682.16) 583.83 1.72 - - - 240907004 LC-RCTC Toll Revenue: - I-15 9128285H9 UNITED STATES TREASURY - 5,299,852.27 - - - - 5.32 (7,860.59) 5,291,997.00 22,054.63 240907004 LC-RCTC Toll Revenue: - I-15 65602VBU9 The Norinchukin Bank - 1,999,978.63 - (2,000,000.00) - - 21.37 - - - 240907004 LC-RCTC Toll Revenue: - I-15 161571HC1 CHAIT 162 A 12,875.98 - - - - - 39.16 (12.90) 12,902.24 7.92 240907004 LC-RCTC Toll Revenue: - I-15 50000EK29 Koch Industries, Inc.1,024,938.50 - - (1,025,000.00) - - 57.80 3.70 - - 240907004 LC-RCTC Toll Revenue: - I-15 89236WAD0 TAOT 15A A4 223,327.44 - - - (223,674.14) 178.26 65.48 102.96 - - 240907004 LC-RCTC Toll Revenue: - I-15 55379WKQ8 MUFG Bank, Ltd.1,999,900.00 - - (2,000,000.00) - - 74.83 25.17 - - 240907004 LC-RCTC Toll Revenue: - I-15 71112KK42 The Peoples Gas Light And Coke Company 424,919.25 - - (425,000.00) - - 82.17 (1.42) - - 240907004 LC-RCTC Toll Revenue: - I-15 58768MAC5 MBALT 16B A3 427,992.94 - - - (381,738.85) 22.52 84.41 611.28 46,972.31 28.20 240907004 LC-RCTC Toll Revenue: - I-15 05582XAD4 BMWLT 162 A3 578,270.96 - - - (301,859.27) 68.90 107.22 1,021.69 277,609.50 121.48 240907004 LC-RCTC Toll Revenue: - I-15 58768MAC5 MBALT 16B A3 254,227.81 - - - (226,752.87) 80.56 118.36 227.70 27,901.55 16.75 240907004 LC-RCTC Toll Revenue: - I-15 65478GAC4 NAROT 17B A2B 403,004.78 - - - (145,926.12) 4.64 127.18 (131.82) 257,078.66 273.70 240907004 LC-RCTC Toll Revenue: - I-15 64972HV66 NEW YORK N Y CITY TRANSITIONAL FIN AUTH BLDG AID R - 664,507.90 - - - - 127.24 118.82 664,753.95 3,535.58 240907004 LC-RCTC Toll Revenue: - I-15 064159HC3 BANK OF NOVA SCOTIA 399,308.00 - - - - - 127.89 412.11 399,848.00 3,596.67 240907004 LC-RCTC Toll Revenue: - I-15 89114QBE7 TORONTO-DOMINION BANK 369,345.10 - - - - - 135.87 300.73 369,781.70 3,186.63 240907004 LC-RCTC Toll Revenue: - I-15 65478AAD5 NAROT 15C A3 342,904.28 - - - (135,829.79) 208.47 164.84 168.75 207,616.55 126.82 240907004 LC-RCTC Toll Revenue: - I-15 23337UL23 DTE Gas Company - 1,499,809.17 - (1,500,000.00) - - 190.83 - - - 240907004 LC-RCTC Toll Revenue: - I-15 71112KK42 The Peoples Gas Light And Coke Company 1,199,772.00 - - (1,200,000.00) - - 225.00 3.00 - - 240907004 LC-RCTC Toll Revenue: - I-15 06051GFN4 BANK OF AMERICA CORP 987,220.00 - - - - - 226.30 1,863.70 989,310.00 4,375.00 240907004 LC-RCTC Toll Revenue: - I-15 31381S5E8 FN 469845 438,134.06 - - - (438,823.00) 1.27 238.58 449.10 - - 240907004 LC-RCTC Toll Revenue: - I-15 780082AA1 ROYAL BANK OF CANADA 1,476,900.00 - - - - - 261.96 7,208.04 1,484,370.00 11,406.25 240907004 LC-RCTC Toll Revenue: - I-15 61746BDM5 MORGAN STANLEY 499,715.00 - - - - - 291.55 (211.55) 499,795.00 5,451.39 240907004 LC-RCTC Toll Revenue: - I-15 161571HJ6 CHAIT 171 A 501,490.00 - - - - - 314.42 (1,559.42) 500,245.00 573.99 240907004 LC-RCTC Toll Revenue: - I-15 65478DAD9 NAROT 18A A3 595,992.00 - - - - - 329.56 822.44 597,144.00 706.67 240907004 LC-RCTC Toll Revenue: - I-15 3137B2GW4 FHMS K713 A2 583,549.86 - - - (3,255.85) 17.83 455.55 85.86 580,853.25 1,127.84 240907004 LC-RCTC Toll Revenue: - I-15 49327M2P8 KEYBANK NA 989,260.00 - - - - - 548.72 1,291.28 991,100.00 5,733.33 240907004 LC-RCTC Toll Revenue: - I-15 161571HC1 CHAIT 162 A 742,845.00 - - - - - 602.49 912.51 744,360.00 456.67 240907004 LC-RCTC Toll Revenue: - I-15 07330NAL9 BRANCH BANKING AND TRUST CO 993,080.00 - - - - - 674.48 445.52 994,200.00 2,054.17 240907004 LC-RCTC Toll Revenue: - I-15 26055BK94 The Dow Chemical Company 1,349,325.00 - - (1,350,000.00) - - 681.00 (6.00) - - 240907004 LC-RCTC Toll Revenue: - I-15 14912EM46 Caterpillar Financial Services Corporation - 1,499,314.58 - (1,500,000.00) - - 685.42 - - - 240907004 LC-RCTC Toll Revenue: - I-15 65479AAD4 NALT 17A A3 845,010.50 - - - - - 722.46 25.54 845,758.50 721.56 240907004 LC-RCTC Toll Revenue: - I-15 31677QBB4 FIFTH THIRD BANK 998,260.00 - - - - - 748.80 (1,068.80) 997,940.00 4,354.17 240907004 LC-RCTC Toll Revenue: - I-15 43357MNR7 Hitachi Capital America Corp.- 1,496,250.00 - - - - 750.00 480.00 1,497,480.00 - 240907004 LC-RCTC Toll Revenue: - I-15 65477XAE4 NALT 16B A4 403,776.90 - - - (54,801.85) 72.37 894.34 (174.36) 349,767.40 250.59 240907004 LC-RCTC Toll Revenue: - I-15 64587BLG5 New Jersey Natural Gas Company - 1,499,088.75 - (1,500,000.00) - - 911.25 - - - 2017 Financing STAMP Portfolio Transaction Report by Account Quarter ended December 31, 2018 ATTACHMENT 10 34 Page 19 of 34 Source Account Account Identifier Description Beginning Base Market Value Base Purchases Base Sales Base Maturities and Redemptions Base Paydowns Net Total Realized Gain/Loss Base Amortization/Ac cretion Base Change In Net Unrealized Gain/Loss Ending Base Market Value Ending Accrued Income Balance 2017 Financing STAMP Portfolio Transaction Report by Account Quarter ended December 31, 2018 240907004 LC-RCTC Toll Revenue: - I-15 64587BL59 New Jersey Natural Gas Company - 1,999,066.67 - (2,000,000.00) - - 933.33 - - - 240907004 LC-RCTC Toll Revenue: - I-15 67021KLD9 NSTAR Electric Company - 1,999,000.00 - (2,000,000.00) - - 1,000.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 07274MKK0 Bayerische Landesbank 998,870.00 - - (1,000,000.00) - - 1,150.00 (20.00) - - 240907004 LC-RCTC Toll Revenue: - I-15 92780KMA3 Virginia Electric and Power Company - 1,498,840.41 - (1,500,000.00) - - 1,159.59 - - - 240907004 LC-RCTC Toll Revenue: - I-15 23336KLE0 DTE Electric Company - 1,998,825.00 - (2,000,000.00) - - 1,175.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 24422ETJ8 JOHN DEERE CAPITAL CORP 1,106,887.50 - - - - - 1,211.84 1,341.91 1,109,441.25 3,203.13 240907004 LC-RCTC Toll Revenue: - I-15 07274MLU7 Bayerische Landesbank - 998,780.83 - (1,000,000.00) - - 1,219.17 - - - 240907004 LC-RCTC Toll Revenue: - I-15 69372BNQ9 PACCAR Financial Corp.- 1,496,265.00 - - - - 1,348.75 (28.75) 1,497,585.00 - 240907004 LC-RCTC Toll Revenue: - I-15 92780KMK1 Virginia Electric and Power Company - 1,323,586.67 - (1,325,000.00) - - 1,413.33 - - - 240907004 LC-RCTC Toll Revenue: - I-15 02587AAJ3 AMXCA 171 A 640,991.00 - - - - - 1,472.83 (153.33) 642,310.50 557.56 240907004 LC-RCTC Toll Revenue: - I-15 64587BN99 New Jersey Natural Gas Company - 1,497,550.01 - - - - 1,516.66 168.33 1,499,235.00 - 240907004 LC-RCTC Toll Revenue: - I-15 78355BMB5 Ryder System, Inc.- 1,498,462.50 - (1,500,000.00) - - 1,537.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 14912EN29 Caterpillar Financial Services Corporation 0.00 1,498,346.67 0.00 0.00 0.00 0.00 1,550.00 103.33 1,500,000.00 0.00 240907004 LC-RCTC Toll Revenue: - I-15 30215HKK5 Export Development Canada - 1,498,448.75 - (1,500,000.00) - - 1,551.25 - - - 240907004 LC-RCTC Toll Revenue: - I-15 93884FM41 Washington Gas Light Company - 1,498,437.50 - (1,500,000.00) - - 1,562.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 43357MME7 Hitachi Capital America Corp.- 1,498,437.50 - (1,500,000.00) - - 1,562.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 93884FL67 Washington Gas Light Company - 998,312.50 - (1,000,000.00) - - 1,687.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 26055BMH4 The Dow Chemical Company - 1,498,158.33 - (1,500,000.00) - - 1,841.67 - - - 240907004 LC-RCTC Toll Revenue: - I-15 50000ENB6 Koch Industries, Inc.- 1,497,118.34 - - - - 1,852.50 39.16 1,499,010.00 - 240907004 LC-RCTC Toll Revenue: - I-15 63743DKH3 National Rural Utilities Cooperative Finance Corpo 1,997,980.00 - - (2,000,000.00) - - 1,911.10 108.90 - - 240907004 LC-RCTC Toll Revenue: - I-15 63743DN98 National Rural Utilities Cooperative Finance Corpo - 1,497,243.75 - - - - 1,939.58 51.67 1,499,235.00 - 240907004 LC-RCTC Toll Revenue: - I-15 78355BKH4 Ryder System, Inc.1,997,980.00 - - (2,000,000.00) - - 2,000.00 20.00 - - 240907004 LC-RCTC Toll Revenue: - I-15 78355BLK6 Ryder System, Inc.- 997,898.89 - (1,000,000.00) - - 2,101.11 - - - 240907004 LC-RCTC Toll Revenue: - I-15 78355BKV3 Ryder System, Inc.- 1,147,853.33 - (1,150,000.00) - - 2,146.67 - - - 240907004 LC-RCTC Toll Revenue: - I-15 34108BNF8 Florida Power & Light Company - 1,496,218.75 - - - - 2,177.08 179.17 1,498,575.00 - 240907004 LC-RCTC Toll Revenue: - I-15 64587BM58 New Jersey Natural Gas Company - 1,497,812.51 - (1,500,000.00) - - 2,187.49 - - - 240907004 LC-RCTC Toll Revenue: - I-15 26055BLE2 The Dow Chemical Company - 947,801.80 - (950,000.00) - - 2,198.20 - - - 240907004 LC-RCTC Toll Revenue: - I-15 23337UMK2 DTE Gas Company - 1,497,795.00 - (1,500,000.00) - - 2,205.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 43357MKJ8 Hitachi Capital America Corp.1,997,860.00 - - (2,000,000.00) - - 2,219.44 (79.44) - - 240907004 LC-RCTC Toll Revenue: - I-15 4497W1MC7 ING (U.S.) Funding LLC - 1,247,663.89 - (1,250,000.00) - - 2,336.11 - - - 240907004 LC-RCTC Toll Revenue: - I-15 07274MN76 Bayerische Landesbank - 1,497,013.33 - - - - 2,346.67 85.00 1,499,445.00 - 240907004 LC-RCTC Toll Revenue: - I-15 50000EKP8 Koch Industries, Inc.- 1,997,555.56 - (2,000,000.00) - - 2,444.44 - - - 240907004 LC-RCTC Toll Revenue: - I-15 97684HN80 Wisconsin Public Service Corporation - 1,496,733.33 - - - - 2,450.00 156.67 1,499,340.00 - 240907004 LC-RCTC Toll Revenue: - I-15 78355BN24 Ryder System, Inc.- 1,497,433.33 - - - - 2,450.00 116.67 1,500,000.00 - 240907004 LC-RCTC Toll Revenue: - I-15 14912EKV8 Caterpillar Financial Services Corporation - 1,497,491.25 - (1,500,000.00) - - 2,508.75 - - - 240907004 LC-RCTC Toll Revenue: - I-15 92780KL71 Virginia Electric and Power Company - 997,481.94 - (1,000,000.00) - - 2,518.06 - - - 240907004 LC-RCTC Toll Revenue: - I-15 74456DMA0 Public Service Electric and Gas Company - 1,497,470.00 - (1,500,000.00) - - 2,530.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 26055BLW2 The Dow Chemical Company - 997,461.39 - (1,000,000.00) - - 2,538.61 - - - 240907004 LC-RCTC Toll Revenue: - I-15 06416CAA6 BANK OF NOVA SCOTIA - 1,514,645.25 - - - - 2,588.73 (148.73) 1,517,085.25 9,901.91 240907004 LC-RCTC Toll Revenue: - I-15 62479ML76 MUFG Bank, Ltd.- 1,997,375.00 - (2,000,000.00) - - 2,625.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 07274ML94 Bayerische Landesbank - 1,997,340.00 - (2,000,000.00) - - 2,660.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 50000ELS1 Koch Industries, Inc.- 1,997,340.00 - (2,000,000.00) - - 2,660.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 02360SM54 Ameren Corporation - 1,497,232.50 - (1,500,000.00) - - 2,767.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 63873KM53 Natixis - 1,497,196.67 - (1,500,000.00) - - 2,803.33 - - - 240907004 LC-RCTC Toll Revenue: - I-15 97684HLT6 Wisconsin Public Service Corporation - 1,522,177.06 - (1,525,000.00) - - 2,822.94 - - - 240907004 LC-RCTC Toll Revenue: - I-15 66522ULU5 Northern Illinois Gas Company - 1,497,141.66 - (1,500,000.00) - - 2,858.34 - - - 240907004 LC-RCTC Toll Revenue: - I-15 89233HMD3 Toyota Motor Credit Corporation - 1,497,125.00 - (1,500,000.00) - - 2,875.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 71112KKW0 The Peoples Gas Light And Coke Company - 1,697,114.73 - (1,700,000.00) - - 2,885.27 - - - 240907004 LC-RCTC Toll Revenue: - I-15 02360SN46 Ameren Corporation - 1,496,640.84 - - - - 3,011.66 122.50 1,499,775.00 - 240907004 LC-RCTC Toll Revenue: - I-15 17275RBG6 CISCO SYSTEMS INC 1,036,287.00 - - - - - 3,087.92 1,206.58 1,040,581.50 4,124.17 240907004 LC-RCTC Toll Revenue: - I-15 69350BML7 PPG Industries, Inc.- 1,496,812.50 - (1,500,000.00) - - 3,187.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 87019SKV5 Swedbank AB 1,996,460.00 - - (2,000,000.00) - - 3,297.77 242.23 - - 240907004 LC-RCTC Toll Revenue: - I-15 93884FN99 Washington Gas Light Company - 1,495,725.00 - - - - 3,325.00 185.00 1,499,235.00 - 240907004 LC-RCTC Toll Revenue: - I-15 02360SL55 Ameren Corporation - 1,521,651.77 - (1,525,000.00) - - 3,348.23 - - - 240907004 LC-RCTC Toll Revenue: - I-15 21687BLD1 Cooperatieve Rabobank U.A.- 1,996,580.00 - (2,000,000.00) - - 3,420.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 69372BLF5 PACCAR Financial Corp.- 1,996,546.66 - (2,000,000.00) - - 3,453.34 - - - 240907004 LC-RCTC Toll Revenue: - I-15 92780KKX5 Virginia Electric and Power Company 1,996,220.00 - - (2,000,000.00) - - 4,050.00 (270.00) - - 240907004 LC-RCTC Toll Revenue: - I-15 43357MLV0 Hitachi Capital America Corp.- 1,995,716.66 - (2,000,000.00) - - 4,283.34 - - - 240907004 LC-RCTC Toll Revenue: - I-15 912828P53 UNITED STATES TREASURY 2,425,408.80 - (1,336,964.06) - - (361.85) 8,691.98 1,091.14 1,097,866.00 3,116.17 240907004 LC-RCTC Toll Revenue: - I-15 912828UF5 UNITED STATES TREASURY 3,628,183.00 - - - - - 11,974.09 5,341.91 3,645,499.00 114.99 70,996,757.21 180,541,933.33 (85,171,091.94)(85,175,000.00)(5,372,988.36)119.40 128,896.50 31,470.30 75,980,096.44 251,807.11 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377QTC1 GNR 1125C AB 88,649.70 2.66 - - (34,831.12) (4,480.53) (6,353.06) (2,963.34) 40,024.32 116.82 240907020 RCTC I-15 Prj RAMP UP RESERVE 31283K5N4 FH G11753 640,177.79 - - - (108,830.15) (4,961.17) (4,247.16) 7,571.03 529,710.34 2,166.40 240907020 RCTC I-15 Prj RAMP UP RESERVE 31392J6N4 FNR 0323B EQ 581,390.36 - - - (49,231.94) (3,719.73) (2,176.39) (1,433.55) 524,828.76 2,327.85 240907020 RCTC I-15 Prj RAMP UP RESERVE 38375KCX8 GNR 0726C MA 198,087.70 - - - (73,342.40) (499.55) (467.10) (6.26) 123,772.40 565.49 240907020 RCTC I-15 Prj RAMP UP RESERVE 31397QWZ7 FNR 1115F VB 75,581.25 - - - (1,021.52) (7.57) (140.10) 83.52 74,495.58 246.59 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378AWX5 GNR 11157E QA 171,968.82 - - - (19,079.56) (136.18) (128.13) 850.44 153,475.40 383.54 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378CDK0 GNR 11169G AK 115,205.50 - - - (16,717.93) (102.22) (103.12) 278.81 98,561.05 246.55 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378DDC6 GNR 1216E GB 97,358.82 - - - (13,690.51) (76.95) (95.39) 121.15 83,617.12 243.34 240907020 RCTC I-15 Prj RAMP UP RESERVE 383742C76 GNR 0832B PA 88,032.15 - - - (6,261.12) (140.49) (89.29) 367.76 81,909.01 267.92 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381QB54 FN 467260 - 58,360.80 - - (108.05) (2.20) (75.30) 598.41 58,773.65 209.73 240907020 RCTC I-15 Prj RAMP UP RESERVE 38376PJ35 GNR 09116C NH - 91,989.47 - - (10,310.29) (31.70) (73.47) (98.48) 81,475.53 271.21 240907020 RCTC I-15 Prj RAMP UP RESERVE 3134GSTK1 FEDERAL HOME LOAN MORTGAGE CORP 150,001.50 - - - - - (45.69) 92.19 150,048.00 1,600.00 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381RLL6 FN 468431 - 46,705.09 - - (79.40) (1.15) (40.84) 500.51 47,084.21 151.92 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381PTG3 FN 466851 - 44,661.98 - - (79.20) (0.72) (32.08) 389.99 44,939.97 139.88 240907020 RCTC I-15 Prj RAMP UP RESERVE 3620ARB67 GN 737261 32,314.50 - - - (1,875.14) (42.59) (28.71) 166.76 30,534.81 99.37 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AJMF8 FHMS K016 A2 - 99,668.24 - - - - (26.47) (592.21) 99,049.56 244.56 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378VC45 GNR 13116D MA - 70,249.63 - - (1,451.27) 53.12 (20.53) 788.63 69,619.58 133.93 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137A5FP4 FHR 3791E DA 69,987.41 - - - (5,533.38) (9.39) (19.92) 217.15 64,641.87 135.45 240907020 RCTC I-15 Prj RAMP UP RESERVE 3130AECJ7 FEDERAL HOME LOAN BANKS 349,013.00 - - - - - (17.89) 1,508.89 350,504.00 842.19 240907020 RCTC I-15 Prj RAMP UP RESERVE 38375JCJ2 GNR 0668 D 31,345.90 - - - (12,743.33) (14.23) (16.33) (88.53) 18,483.49 81.64 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377F2N0 GNR 1073E LN - 63,358.24 - - (17,838.48) 30.31 (13.06) 43.48 45,580.48 114.07 240907020 RCTC I-15 Prj RAMP UP RESERVE 62888VAA6 NGN 10R1 1A 44,975.20 - - - (3,855.78) (10.93) (12.50) (66.59) 41,029.40 85.07 240907020 RCTC I-15 Prj RAMP UP RESERVE 3620A9WV9 GN 723460 15,697.69 - - - (1,062.95) (22.04) (11.86) 90.00 14,690.85 47.74 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ANMN2 FHMS K707 A2 1,162,780.46 - - - (1,164,877.23) 1,069.05 (10.21) 1,037.94 - - 240907020 RCTC I-15 Prj RAMP UP RESERVE 38379HLE3 GNR 14184H WK - 92,402.02 - - (4,577.82) 6.41 (8.56) 1,493.81 89,315.86 256.53 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828Y53 UNITED STATES TREASURY - 400,142.18 - - - - (7.47) (342.71) 399,792.00 1,663.12 35 Page 20 of 34 Source Account Account Identifier Description Beginning Base Market Value Base Purchases Base Sales Base Maturities and Redemptions Base Paydowns Net Total Realized Gain/Loss Base Amortization/Ac cretion Base Change In Net Unrealized Gain/Loss Ending Base Market Value Ending Accrued Income Balance 2017 Financing STAMP Portfolio Transaction Report by Account Quarter ended December 31, 2018 240907020 RCTC I-15 Prj RAMP UP RESERVE 31397SE83 FNR 1136C PA 17,475.31 - - - (4,637.16) 0.90 (6.06) (8.96) 12,824.03 42.81 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AH6C7 FHMS K015 A2 - 100,179.69 - - - - (5.35) 506.66 100,681.00 269.17 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377JM59 GNR 10111F PE - 41,146.94 - - (863.59) 21.96 (3.19) 145.02 40,447.13 86.12 240907020 RCTC I-15 Prj RAMP UP RESERVE 31846V203 FIRST AMER:GVT OBLG Y 227,097.56 2,647,493.32 (2,842,162.56) - - - - - 32,428.32 - 240907020 RCTC I-15 Prj RAMP UP RESERVE CCYUSD Payable (431,039.52) - - - - - - - - - 240907020 RCTC I-15 Prj RAMP UP RESERVE CCYUSD Receivable 301,125.00 - - - - - - - - - 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377F2N0 GNR 1073E LN 72,537.16 (72,433.49) - - - - - (103.67) - - 240907020 RCTC I-15 Prj RAMP UP RESERVE 31418ASD1 FN MA1415 1,272.41 - - - (119.72) 1.27 0.45 7.49 1,161.91 1.97 240907020 RCTC I-15 Prj RAMP UP RESERVE 9128285H9 UNITED STATES TREASURY - 549,984.67 - - - - 0.55 (815.72) 549,169.50 2,288.69 240907020 RCTC I-15 Prj RAMP UP RESERVE 31398N2K9 FNR 10123B DL 13,130.92 - - - (9,131.91) (7.57) 1.07 21.17 4,013.68 11.73 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377WL77 GNR 1194A AB 20,292.35 - - - (14,349.06) 61.87 14.13 (38.03) 5,981.27 9.99 240907020 RCTC I-15 Prj RAMP UP RESERVE 31418ASD1 FN MA1415 80,162.05 - - - (7,542.46) 69.53 23.33 487.74 73,200.18 123.92 240907020 RCTC I-15 Prj RAMP UP RESERVE 3138NJAE8 FN FN0004 51,339.66 - - - (11,007.52) (120.44) 23.68 192.24 40,427.63 124.55 240907020 RCTC I-15 Prj RAMP UP RESERVE 3130AAMQ8 FEDERAL HOME LOAN BANKS - 224,841.60 - - - - 30.17 13.48 224,885.25 1,273.44 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B1UF7 FHMS K027 A1 39,883.23 - - - (2,540.05) 32.52 30.72 234.92 37,641.33 57.01 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136AC7J4 FNA 13M6 2A 45,780.82 - - - (4,435.44) 62.88 36.64 832.00 42,276.89 89.45 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ASR97 FHMS K020 A1 34,428.55 - - - (2,401.20) 46.11 42.59 151.65 32,267.70 43.15 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B3NW4 FHMS K031 A1 107,839.80 - - - (6,727.72) 57.53 44.58 96.87 101,311.06 235.73 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AXHN6 FHMS K024 A1 79,038.26 - - - (5,605.82) 66.22 62.79 383.31 73,944.76 109.67 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381N7G2 FN 466295 90,494.88 - - - (54,108.68) (186.66) 81.01 312.30 36,592.86 102.60 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136A96F0 FNA 12M17 A2 72,251.25 - - - (2,571.11) 64.30 97.08 1,266.26 71,107.79 131.82 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B1U75 FHMS KS01 A2 116,794.80 - - - - - 102.32 1,392.88 118,290.00 252.20 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136AMM48 FNA 15M4B AV2 97,038.40 - - - (1,054.23) 15.25 104.41 624.63 96,728.46 203.77 240907020 RCTC I-15 Prj RAMP UP RESERVE 313385N51 FEDERAL HOME LOAN BANKS - 299,874.58 - (300,000.00) - - 125.42 - - - 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B84S3 FHR 4305A CT 138,777.24 - - - (12,129.88) 143.93 146.88 817.96 127,756.13 216.20 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ATRW4 FHMS K020 A2 97,478.00 - - - - - 176.12 878.88 98,533.00 197.75 240907020 RCTC I-15 Prj RAMP UP RESERVE 912796PE3 UNITED STATES TREASURY - 524,816.25 - (525,000.00) - - 183.75 - - - 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828SA9 UNITED STATES TREASURY 76,009.62 - - - - - 312.95 (409.58) 75,912.99 45.16 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828SA9 UNITED STATES TREASURY 76,009.62 - - - - - 318.96 (415.59) 75,912.99 45.16 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828UH1 UNITED STATES TREASURY 79,268.23 - - - - - 335.09 (245.22) 79,358.10 47.45 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828B58 UNITED STATES TREASURY 314,726.40 - - - - - 359.16 2,453.64 317,539.20 2,845.65 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828UF5 UNITED STATES TREASURY 186,312.10 - - - - - 451.79 437.41 187,201.30 5.90 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828VV9 UNITED STATES TREASURY 468,820.25 - - - - - 498.81 2,526.94 471,846.00 3,429.64 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828VV9 UNITED STATES TREASURY 296,097.00 - - - - - 513.90 1,397.10 298,008.00 2,166.09 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828VA5 UNITED STATES TREASURY 160,797.45 - - - - - 604.47 491.13 161,893.05 317.92 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828SA9 UNITED STATES TREASURY 162,877.76 - - - - - 623.69 (830.74) 162,670.70 96.77 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828UF5 UNITED STATES TREASURY 240,244.55 - - - - - 792.88 353.72 241,391.15 7.61 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828P53 UNITED STATES TREASURY 238,564.80 - - - - - 881.25 88.35 239,534.40 679.89 240907020 RCTC I-15 Prj RAMP UP RESERVE 912828VA5 UNITED STATES TREASURY 487,265.00 - - - - - 1,684.62 1,635.38 490,585.00 963.40 7,972,758.66 5,283,443.87 (2,842,162.56) (825,000.00) (1,686,624.12) (12,770.85) (5,569.96) 25,490.43 8,039,479.99 29,163.29 78,969,515.87 185,825,377.20 (88,013,254.50) (86,000,000.00) (7,059,612.48) (12,651.45) 123,326.54 56,960.73 84,019,576.43 280,970.40 36 *Negative cash reflects securities in transit at month end 2017 Financing STAMP Portfolio Summary of Investments for quarter ended December 31, 2018 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 11 37 *Negative cash reflects securities in transit at month end 2017 Financing STAMP Portfolio Sales Tax Revenue Fund Summary of Investments for quarter ended December 31, 2018 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 12 38 *Negative cash reflects securities in transit at month end 2017 Financing STAMP Portfolio Ramp Up Fund Summary of Investments for quarter ended December 31, 2018 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 13 39 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM CUSIP Security Type Category Issuer Final Maturity Trade Date Next Call Date Original Cost Base Market Value Unrealized Gain/Loss Accrued Income Coupon Yield Credit Rating 3130AF4M6 Agencies F H L B DEB 3.360% 10/18/22 10/18/2022 10/18/2018 04/18/2019 254,617.50 255,300.90 683.40 1,737.40 3.360 3.357 AA+ 3130AF5B9 Agencies F H L B DEB 3.000% 10/12/21 10/12/2021 10/12/2018 619,597.00 627,911.20 8,314.20 4,081.67 3.000 2.972 AA+ 3133EHRD7 Agencies F F C B DEB 2.39438% 7/13/22 07/13/2022 07/13/2017 310,000.00 310,114.70 114.70 391.75 2.510 2.393 AA+ 3133EHTJ2 Agencies F F C B DEB 2.41925% 8/01/22 08/01/2022 08/01/2017 230,000.00 229,924.10 (75.90) 479.15 2.420 2.420 AA+ 3133EHXH1 Agencies F F C B 2.4595% 9/06/22 09/06/2022 09/06/2017 260,000.00 259,685.40 (314.60) 450.27 2.460 2.462 AA+ 3133EJZD4 Agencies F F C B DEB 2.960% 9/13/21 09/13/2021 09/13/2018 258,921.00 260,007.80 1,086.80 2,308.80 2.960 2.960 AA+ 3134GBTL6 Agencies F H L M C M T N 2.100% 6/29/22 06/29/2022 06/29/2017 03/29/2019 484,720.00 490,325.00 5,605.00 58.33 2.100 2.147 AA+ 3134GSWC5 Agencies F H L M C M T N 2.900% 8/27/21 08/27/2021 08/27/2018 02/27/2019 510,000.00 510,000.00 - 5,094.33 2.900 2.907 AA+ 3136G4SW4 Agencies F N M A M T N 2.900% 6/28/21 06/28/2021 06/28/2018 3/28/2019 259,870.00 260,182.00 312.00 62.83 2.900 2.899 AA+ 3137EAEL9 Agencies F H L M C M T N 2.375% 2/16/21 02/16/2021 02/16/2018 508,653.60 508,230.30 (423.30) 4,542.19 2.380 2.388 AA+ 76116FAE7 Agencies RESOLUTION FD CORP STRIP 10/15/20 10/15/2020 10/15/1990 483,083.43 486,698.10 3,614.67 - 0.000 0.000 N/A 05582QAD9 Asset-Backed BMW VEHICLE OWNER 1.160% 11/25/20 11/25/2020 07/20/2016 206,243.71 204,904.05 (1,339.66) 39.87 1.160 1.167 N/A 05584PAD9 Asset-Backed BMW VEHICLE LEASE 2.070% 10/20/20 10/20/2020 10/25/2017 99,999.92 99,257.00 (742.92) 63.25 2.070 2.085 N/A 161571HC1 Asset-Backed CHASE ISSUANCE TRUST 1.370% 6/15/21 06/15/2021 06/17/2016 750,007.12 744,360.00 (5,647.12) 456.67 1.370 1.379 AAA 17305EGB5 Asset-Backed CITIBANK CREDIT 1.920% 4/07/22 04/07/2022 04/11/2017 229,933.74 227,067.50 (2,866.24) 1,030.40 1.920 1.945 AAA 43814PAC4 Asset-Backed HONDA AUTO 1.790% 9/20/21 09/20/2021 09/29/2017 149,983.76 148,162.50 (1,821.26) 96.96 1.790 1.812 AAA 47787XAC1 Asset-Backed JOHN DEERE OWNER 1.780% 4/15/21 04/15/2021 03/02/2017 272,978.36 271,065.16 (1,913.20) 215.99 1.780 1.792 N/A 58769DAD2 Asset-Backed MERCEDES BENZ AUTO 1.790% 4/15/20 04/15/2020 04/26/2017 369,991.56 368,890.00 (1,101.56) 294.36 1.790 1.795 AAA 65478BAD3 Asset-Backed NISSAN AUTO LEASE 3.250% 9/15/21 09/15/2021 10/24/2018 199,982.52 200,238.00 255.48 288.89 3.250 3.248 AAA 65478NAD7 Asset-Backed NISSAN AUTO 3.220% 6/15/23 06/15/2023 12/12/2018 449,913.78 453,240.00 3,326.22 764.75 3.220 3.201 AAA 65479BAD2 Asset-Backed NISSAN AUTO LEASE 2.050% 9/15/20 09/15/2020 10/10/2017 219,961.57 218,383.00 (1,578.57) 200.44 2.050 2.066 N/A 89190BAD0 Asset-Backed TOYOTA AUTO 1.760% 7/15/21 07/15/2021 05/17/2017 519,960.12 515,200.40 (4,759.72) 406.76 1.760 1.776 AAA 89238MAD0 Asset-Backed TOYOTA AUTO 1.730% 2/16/21 02/16/2021 03/15/2017 337,991.60 335,621.23 (2,370.37) 259.91 1.730 1.742 AAA 90290AAC1 Asset-Backed USAA AUTO OWNER 1.700% 5/17/21 05/17/2021 09/20/2017 139,985.24 138,964.00 (1,021.24) 105.78 1.700 1.712 AAA 31846V203 Cash FIRST AM GOVT OB FD CL Y 56,390.19 56,390.19 - 542.75 0.000 1.990 037833BS8 Credit APPLE INC 2.250% 2/23/21 02/23/2021 02/23/2016 01/23/2021 495,675.00 494,140.00 (1,535.00) 4,000.00 2.250 2.281 AA+ 037833CS7 Credit APPLE INC 1.800% 5/11/20 05/11/2020 05/11/2017 484,505.30 478,889.00 (5,616.30) 1,212.50 1.800 1.824 AA+ 053015AD5 Credit AUTOMATIC DATA 2.250% 9/15/20 09/15/2020 09/15/2015 08/15/2020 453,387.83 447,534.00 (5,853.83) 2,981.25 2.250 2.272 AA 06050TMH2 Credit BANK OF AMERICA NA 25.6138% 8/28/20 08/28/2020 08/28/2018 08/28/2019 410,000.00 408,524.00 (1,476.00) - 2.960 25.708 A+ 06406FAA1 Credit BANK OF NY MTN 2.500% 4/15/21 04/15/2021 02/19/2016 03/15/2021 756,466.21 740,767.50 (15,698.71) 3,958.33 2.500 2.536 A 06406HBM0 Credit BANK NY MELLON MTN 5.450% 5/15/19 05/15/2019 05/12/2009 245,229.45 244,219.14 (1,010.31) 1,685.26 5.450 5.403 A 084664CK5 Credit BERKSHIRE HATHAWAY 1.300% 8/15/19 08/15/2019 08/15/2016 159,844.80 158,320.00 (1,524.80) 785.78 1.300 1.312 AA 084670BQ0 Credit BERKSHIRE HATHAWAY 2.200% 3/15/21 03/15/2021 03/15/2016 02/15/2021 466,436.01 464,820.48 (1,615.53) 3,051.03 2.200 2.236 AA 166764AN0 Credit CHEVRON CORP 2.193% 11/15/19 11/15/2019 11/18/2014 501,681.22 497,565.00 (4,116.22) 1,401.08 2.190 2.204 AA 166764AU4 Credit CHEVRON CORP 2.81992% 3/03/22 03/03/2022 03/03/2015 503,984.42 501,300.00 (2,684.42) 1,135.80 3.270 2.825 AA 17275RAE2 Credit CISCO SYSTEMS INC 4.950% 2/15/19 02/15/2019 02/17/2009 361,445.54 360,763.20 (682.34) 6,732.00 4.950 4.940 AA- 17275RAX0 Credit CISCO SYSTEMS INC 2.450% 6/15/20 06/15/2020 06/17/2015 599,952.00 596,814.00 (3,138.00) 653.33 2.450 2.467 AA- 17275RBG6 Credit CISCO SYSTEMS INC 1.400% 9/20/19 09/20/2019 09/20/2016 39,955.60 39,641.20 (314.40) 157.11 1.400 1.414 AA- 30231GAV4 Credit EXXON MOBIL 2.222% 3/01/21 03/01/2021 03/03/2016 02/01/2021 495,685.00 492,800.00 (2,885.00) 3,703.33 2.220 2.257 AA+ 478160CH5 Credit JOHNSON JOHNSON 1.950% 11/10/20 11/10/2020 11/10/2017 249,732.50 246,337.50 (3,395.00) 690.63 1.950 1.979 AAA 48125LRJ3 Credit JP MORGAN MTN 2.92506% 9/23/19 09/23/2019 09/23/2016 847,648.41 845,253.50 (2,394.91) 617.92 3.410 2.922 A+ 594918BV5 Credit MICROSOFT CORP 1.850% 2/06/20 02/06/2020 02/06/2017 499,665.00 496,370.00 (3,295.00) 3,725.69 1.850 1.867 AAA 717081DU4 Credit PFIZER INC 1.450% 6/03/19 06/03/2019 06/03/2016 249,715.00 248,537.50 (1,177.50) 281.94 1.450 1.458 AA 717081EM1 Credit PFIZER INC 3.000% 9/15/21 09/15/2021 09/07/2018 249,662.50 251,492.50 1,830.00 2,375.00 3.000 2.994 AA 742718EZ8 Credit PROCTER GAMBLE CO 1.750% 10/25/19 10/25/2019 10/25/2017 149,947.50 148,732.50 (1,215.00) 481.25 1.750 1.765 AA- 857477AS2 Credit STATE STREET CORP 2.550% 8/18/20 08/18/2020 08/18/2015 792,809.35 781,380.80 (11,428.55) 7,423.62 2.550 2.576 A 88579YBA8 Credit 3M COMPANY MTN 3.000% 9/14/21 09/14/2021 09/14/2018 08/14/2021 249,487.50 252,020.00 2,532.50 2,229.17 3.000 2.988 AA- 90331HNG4 Credit US BANK NA MTN 2.050% 10/23/20 10/23/2020 10/24/2017 09/23/2020 249,950.00 245,665.00 (4,285.00) 968.06 2.050 2.089 AA- 90331HNJ8 Credit US BANK NA MTN 2.350% 1/23/20 01/23/2020 01/23/2018 12/23/2019 254,885.25 253,380.75 (1,504.50) 2,630.04 2.350 2.367 AA- 91159HHQ6 Credit US BANCORP MTN 3.12738% 1/24/22 01/24/2022 01/24/2017 12/23/2021 503,630.79 500,490.00 (3,140.79) 2,997.07 3.130 3.142 A+ 931142DY6 Credit WALMART STORES INC 1.750% 10/09/19 10/09/2019 10/20/2017 294,994.10 292,929.10 (2,065.00) 1,175.90 1.750 1.763 AA 931142EA7 Credit WALMART STORES INC 1.900% 12/15/20 12/15/2020 10/20/2017 489,760.00 492,155.00 2,395.00 422.22 1.900 1.932 AA 931142EJ8 Credit WALMART INC 3.125% 6/23/21 06/23/2021 06/27/2018 129,993.50 130,924.30 930.80 90.28 3.130 3.111 AA Payden & Rygel Operating Portfolio by Investment Category for Quarter ended December 31, 2018 ATTACHMENT 14 40 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM CUSIP Security Type Category Issuer Final Maturity Trade Date Next Call Date Original Cost Base Market Value Unrealized Gain/Loss Accrued Income Coupon Yield Credit Rating Payden & Rygel Operating Portfolio by Investment Category for Quarter ended December 31, 2018 94988J5Q6 Credit WELLS FARGO MTN 2.84706% 7/23/21 07/23/2021 07/23/2018 07/23/2020 500,000.00 497,150.00 (2,850.00) 2,767.98 2.980 2.871 A+ 94988J5T0 Credit WELLS FARGO MTN 3.625% 10/22/21 10/22/2021 10/23/2018 09/21/2021 529,941.70 533,137.60 3,195.90 3,629.03 3.630 3.619 A+ 3136B1XP4 Mortgage-Backed F N M A GTD REMIC 3.560% 9/25/21 09/25/2021 04/01/2018 188,727.79 187,849.56 (878.23) 551.10 3.560 3.524 N/A 3137BNN26 Mortgage-Backed F H L M C MLTCL MTG 1.780% 7/25/19 07/25/2019 04/01/2016 28,149.48 27,927.51 (221.97) 41.68 1.780 1.791 N/A 3137FGZN8 Mortgage-Backed F H L M C MLTCL 2.50688% 2/25/23 02/25/2023 08/14/2018 192,012.98 191,809.45 (203.53) 93.60 2.550 2.509 N/A 3137FJXN4 Mortgage-Backed F H L M C MLTCL 2.55688% 2/25/23 02/25/2023 10/31/2018 200,000.00 199,446.00 (554.00) 99.43 2.600 2.564 N/A 3137FJYA1 Mortgage-Backed F H L M C MLTCL MTG 3.454% 5/25/23 05/25/2023 11/01/2018 379,091.55 384,761.78 5,670.23 1,091.18 3.450 3.421 N/A 010831DL6 Taxable Muni ALAMEDA CNTY CA JT 2.485% 6/01/19 06/01/2019 04/24/2018 260,000.00 259,568.40 (431.60) 538.42 2.490 2.489 AA+ 010831DN2 Taxable Muni ALAMEDA CNTY CA JT 2.866% 6/01/21 06/01/2021 04/24/2018 255,000.00 254,966.85 (33.15) 609.02 2.870 2.873 AA+ 13063BFS6 Taxable Muni CALIFORNIA ST BUILD 6.650% 3/01/22 03/01/2022 04/01/2010 476,660.75 465,285.75 (11,375.00) 9,420.83 6.650 6.093 AA- 13063DAB4 Taxable Muni CALIFORNIA ST HIGH 1.593% 4/01/19 04/01/2019 04/27/2017 350,003.71 349,013.00 (990.71) 1,393.88 1.590 1.597 AA- 13063DGA0 Taxable Muni CALIFORNIA ST 2.800% 4/01/21 04/01/2021 04/25/2018 500,008.42 499,560.00 (448.42) 3,500.00 2.800 2.805 AA- 13066YTY5 Taxable Muni CALIFORNIA ST DEPT 1.713% 5/01/21 05/01/2021 09/28/2016 105,052.47 103,650.61 (1,401.86) 302.98 1.710 1.757 AA 13077CT38 Taxable Muni CALIFORNIA ST 1.982% 11/01/19 11/01/2019 08/05/2015 130,182.82 128,948.30 (1,234.52) 429.43 1.980 1.998 AA- 45750TAG8 Taxable Muni INLAND VLY CA DEV 3.627% 3/01/20 03/01/2020 05/15/2014 231,766.10 231,840.00 73.90 2,780.70 3.630 3.598 AA 544445AY5 Taxable Muni LOS ANGELES CA DEPT 1.750% 5/15/19 05/15/2019 12/06/2016 100,000.00 99,674.00 (326.00) 223.61 1.750 1.756 AA 544445AZ2 Taxable Muni LOS ANGELES CA DEPT 2.092% 5/15/20 05/15/2020 12/06/2016 98,788.00 99,054.00 266.00 267.31 2.090 2.112 AA 54465AGK2 Taxable Muni LOS ANGELES CA 1.125% 9/01/19 09/01/2019 08/25/2016 266,868.00 267,162.30 294.30 1,012.50 1.130 1.137 AA 649791EJ5 Taxable Muni NEW YORK ST REF SER 3.600% 9/01/19 09/01/2019 03/30/2011 506,496.00 502,265.00 (4,231.00) 6,000.00 3.600 3.585 AA+ 649791EV8 Taxable Muni NEW YORK ST SER B 3.600% 2/15/19 02/15/2019 03/30/2011 250,581.66 250,260.00 (321.66) 3,400.00 3.600 3.597 AA+ 697379UD5 Taxable Muni PALO ALTO CA 2.291% 8/01/20 08/01/2020 08/14/2012 321,873.50 323,050.00 1,176.50 3,102.40 2.290 2.306 AAA 78607QAT2 Taxable Muni SACRAMENTO CA 2.712% 11/01/19 11/01/2019 05/30/2018 130,000.00 129,759.50 (240.50) 587.60 2.710 2.716 AA+ 797299LR3 Taxable Muni SAN DIEGO CA PUBLIC 2.698% 10/15/19 10/15/2019 06/21/2018 500,000.00 499,145.00 (855.00) 2,847.89 2.700 2.703 AA- 797299LT9 Taxable Muni SAN DIEGO CA PUBLIC 2.994% 10/15/21 10/15/2021 06/21/2018 200,000.00 200,622.00 622.00 1,264.13 2.990 2.993 AA- 797669XT0 Taxable Muni SAN FRANCISCO CA 2.169% 7/01/20 07/01/2020 12/28/2017 100,000.00 99,192.00 (808.00) 1,084.50 2.170 2.187 AA+ 79770GGM2 Taxable Muni SAN FRANCISCO CITY 2.000% 8/01/20 08/01/2020 11/30/2017 299,607.00 296,634.00 (2,973.00) 2,500.00 2.000 2.023 AA- 798170AB2 Taxable Muni SAN JOSE CA 2.098% 8/01/19 08/01/2019 12/21/2017 320,000.00 318,694.40 (1,305.60) 2,797.33 2.100 2.107 AA 798170AC0 Taxable Muni SAN JOSE CA REDEV 2.259% 8/01/20 08/01/2020 12/21/2017 190,000.00 188,303.30 (1,696.70) 1,788.38 2.260 2.280 AA 79876CBQ0 Taxable Muni SAN MARCOS CA REDEV 2.000% 10/01/20 10/01/2020 12/14/2017 109,256.40 108,339.00 (917.40) 550.00 2.000 2.032 AA- 801096AP3 Taxable Muni SANTA ANA CA CMNTY 3.346% 9/01/21 09/01/2021 11/08/2018 240,000.00 243,480.00 3,480.00 1,182.25 3.350 3.307 AA 80136PCY7 Taxable Muni SANTA BARBARA CA 3.300% 12/01/21 44531 43432 125,000.00 126,465.00 1,465.00 378.13 3.300 3.271 AA 882723UC1 Taxable Muni TEXAS ST REF WTR 2.036% 8/01/20 08/01/2020 02/05/2015 250,915.72 247,637.50 (3,278.22) 2,120.83 2.040 2.056 AAA 91412G2R5 Taxable Muni UNIV OF CALIFORNIA 1.877% 5/15/20 05/15/2020 09/28/2017 90,000.00 88,866.90 (1,133.10) 215.86 1.880 1.901 AA- 91412G2S3 Taxable Muni UNIV OF CALIFORNIA 2.112% 5/15/21 05/15/2021 09/28/2017 140,000.00 137,893.00 (2,107.00) 377.81 2.110 2.149 AA- 91412GD36 Taxable Muni UNIV OF CA 1.169% 5/15/19 05/15/2019 04/20/2016 140,000.00 139,255.20 (744.80) 209.12 1.170 1.175 AA 91412GWV3 Taxable Muni UNIV OF CA 2.003% 5/15/19 05/15/2019 03/25/2015 250,000.00 249,422.50 (577.50) 639.85 2.000 2.008 AA 91412HDJ9 Taxable Muni UNIV OF CA 3.283% 5/15/22 05/15/2022 06/05/2018 285,988.14 288,536.85 2,548.71 1,195.56 3.280 3.252 AA- 9128282Q2 Treasuries U S TREASURY NT 1.500% 8/15/20 08/15/2020 08/15/2017 1,457,105.41 1,434,132.54 (22,972.87) 8,260.68 1.500 1.527 N/A 9128284P2 Treasuries U S TREASURY NT 2.625% 5/15/21 05/15/2021 05/15/2018 888,550.98 892,848.00 3,471.04 3,033.25 2.630 2.623 N/A 9128284T4 Treasuries U S TREASURY NT 2.625% 6/15/21 06/15/2021 06/15/2018 639,675.00 642,124.80 2,449.80 784.62 2.630 2.622 N/A 9128284W7 Treasuries U S TREASURY NT 2.750% 8/15/21 08/15/2021 08/15/2018 1,937,554.19 1,948,080.60 10,526.41 20,099.29 2.750 2.738 N/A 9128284Y3 Treasuries U S TREASURY NT 2.625% 8/31/20 08/31/2020 08/31/2018 5,907,157.98 5,922,866.95 15,081.29 52,757.06 2.630 2.625 N/A 9128285A4 Treasuries U S TREASURY NT 2.750% 9/15/21 09/15/2021 09/15/2018 507,948.05 513,544.50 5,596.45 4,184.25 2.750 2.738 N/A 9128285B2 Treasuries U S TREASURY NT 2.750% 9/30/20 09/30/2020 09/30/2018 2,130,361.92 2,143,006.25 12,644.33 15,000.72 2.750 2.744 N/A 9128285F3 Treasuries U S TREASURY NT 2.875% 10/15/21 10/15/2021 10/15/2018 1,026,577.07 1,040,866.50 14,289.43 6,345.54 2.880 2.852 N/A 9128285G1 Treasuries U S TREASURY NT 2.875% 10/31/20 10/31/2020 10/31/2018 515,301.71 518,218.75 2,917.04 2,535.88 2.880 2.862 N/A 9128285L0 Treasuries U S TREASURY NT 2.875% 11/15/21 11/15/2021 11/15/2018 1,036,211.22 1,046,519.55 10,308.33 3,863.38 2.880 2.851 N/A 9128285Q9 Treasuries U S TREASURY NT 2.750% 11/30/20 11/30/2020 11/30/2018 3,989,220.70 4,008,074.70 18,854.00 9,646.15 2.750 2.743 N/A 9128285R7 Treasuries U S TREASURY NT 2.625% 12/15/21 12/15/2021 12/15/2018 518,090.63 522,334.80 4,244.17 637.50 2.630 2.621 N/A 9128285S5 Treasuries U S TREASURY NT 2.500% 12/31/20 12/31/2020 12/31/2018 479,793.75 479,980.80 187.05 33.15 2.500 2.504 N/A 912828Y20 Treasuries U S TREASURY NT 2.625% 7/15/21 07/15/2021 07/16/2018 249,619.14 250,890.00 1,270.86 3,013.76 2.630 2.622 N/A 912828Y46 Treasuries U S TREASURY NT 2.625% 7/31/20 07/31/2020 07/31/2018 1,828,355.86 1,832,214.30 3,858.44 20,102.65 2.630 2.626 N/A 41 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM CUSIP Security Type Category Issuer Final Maturity Trade Date Next Call Date Original Cost Base Market Value Unrealized Gain/Loss Accrued Income Coupon Yield Credit Rating Payden & Rygel Operating Portfolio by Investment Category for Quarter ended December 31, 2018 51,722,411.30 51,706,217.80 (17,647.16) 292,831.29 42 Page 27 of 34 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount 10/1/2018 13063DAB4 INTEREST EARNED ON CALIFORNIA ST HIGH 1.593% 4/01/19 $1 PV ON 350000.0000 SHARES DUE 10/1/2018 - - - - - 2,787.75 - - - 10/1/2018 13063DAB4 AMORTIZED PREMIUM ON CALIFORNIA ST HIGH 1.593% 4/01/19 CURRENT YEAR AMORTIZATION - - - - - - (10.10) - - 10/1/2018 13063DGA0 INTEREST EARNED ON CALIFORNIA ST 2.800% 4/01/21 $1 PV ON 500000.0000 SHARES DUE 10/1/2018 - - - - - 6,066.67 - - - 10/1/2018 3133EHTJ2 INTEREST EARNED ON F F C B DEB 2.17375% 8/01/22 $1 PV ON 230000.0000 SHARES DUE 10/1/2018 - - - - - 416.64 - - - 10/1/2018 10/1/2018 10/1/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 304.48 1.00 - - - (304.48) 304.48 - - 10/1/2018 10/1/2018 10/1/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (1,074,399.52) 1.00 - - - 1,074,399.52 (1,074,399.52) - - 10/1/2018 31846V203 INTEREST EARNED ON FIRST AM GOVT OB FD CL Y UNIT ON 0.0000 SHARES DUE 9/30/2018 INTEREST FROM 9/1/18 TO 9/30/18 - - - - - 435.01 - - - 10/1/2018 79876CBQ0 INTEREST EARNED ON SAN MARCOS CA REDEV 2.000% 10/01/20 $1 PV ON 110000.0000 SHARES DUE 10/1/2018 - - - - - 1,100.00 - - - 10/1/2018 9128284C1 INTEREST EARNED ON U S TREASURY NT 2.250% 3/31/20 $1 PV ON 1660000.0000 SHARES DUE 9/30/2018 - - - - - 18,675.00 - - - 10/1/2018 9/25/2018 10/1/2018 9128285B2 PURCHASED PAR VALUE OF U S TREASURY NT 2.750% 9/30/20 /BONY/TORONTO DOMINION SECURITI/1,105,000 PAR VALUE AT 99.824219 %1,105,000.00 1.00 - - - (1,103,057.62) 1,103,057.62 - - 10/1/2018 10/1/2018 9128285B2 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.750% 9/30/20 - - - - - (83.48) - - - 10/2/2018 10/2/2018 10/2/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 435.01 1.00 - - - (435.01) 435.01 - - 10/9/2018 17305EGB5 INTEREST EARNED ON CITIBANK CREDIT 1.920% 4/07/22 $1 PV ON 2208.0000 SHARES DUE 10/7/2018 $0.00960/PV ON 230,000.00 PV DUE 10/ 7/18 - - - - - 2,208.00 - - - 10/9/2018 3133EHXH1 INTEREST EARNED ON F F C B 2.20031% 9/06/22 $1 PV ON 260000.0000 SHARES DUE 10/6/2018 - - - - - 476.73 - - - 10/9/2018 10/9/2018 10/9/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 3,057.98 1.00 - - - (3,057.98) 3,057.98 - - 10/9/2018 10/9/2018 10/9/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 2,208.00 1.00 - - - (2,208.00) 2,208.00 - - 10/9/2018 931142DY6 INTEREST EARNED ON WALMART STORES INC 1.750% 10/09/19 $1 PV ON 295000.0000 SHARES DUE 10/9/2018 - - - - - 2,581.25 - - - 10/10/2018 10/10/2018 10/10/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 254,523.55 1.00 - - - (254,523.55) 254,523.55 - - 10/10/2018 10/9/2018 10/10/2018 9128284Y3 SOLD PAR VALUE OF U S TREASURY NT 2.625% 8/31/20 /HSBC SECURITIES (USA) FXD INC/255,000 PAR VALUE AT 99.52310196 %(255,000.00) 1.00 - - - 253,783.91 (253,783.91) - - 10/10/2018 10/10/2018 9128284Y3 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.625% 8/31/20 - - - - - 739.64 - - - 10/10/2018 9128284Y3 FED BASIS OF U S TREASURY NT 2.625% 8/31/20 ADJUSTED BY -967.07 FIXED FEDRL TX CST FROM $254750.98 TO $253783.91 - - - - - - (967.07) - - 10/10/2018 9128284Y3 FED BASIS OF U S TREASURY NT 2.625% 8/31/20 ADJUSTED BY 967.07 FIXED FEDRL TX CST FROM $254193.16 TO $255160.23 - - - - - - 967.07 - - 10/11/2018 3133EH2J1 INTEREST EARNED ON F F C B 2.141% 12/11/20 $1 PV ON 510000.0000 SHARES DUE 10/11/2018 - - - - - 909.93 - - - 10/11/2018 10/11/2018 10/11/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 924,010.60 1.00 - - - (924,010.60) 924,010.60 - - 10/11/2018 10/11/2018 10/11/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (420,640.02) 1.00 - - - 420,640.02 (420,640.02) - - 10/11/2018 10/10/2018 10/11/2018 9128283S7 SOLD PAR VALUE OF U S TREASURY NT 2.000% 1/31/20 /CITIGROUP GLOBAL MARKETS INC./1,540,000 PAR VALUE AT 98.99966494 %(1,540,000.00) 0.99 - - - 1,524,594.84 (1,536,510.94) (11,916.10) - 10/11/2018 10/11/2018 9128283S7 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.000% 1/31/20 - - - - - 6,026.09 - - - 10/11/2018 10/10/2018 10/11/2018 9128285B2 PURCHASED PAR VALUE OF U S TREASURY NT 2.750% 9/30/20 /HSBC SECURITIES (USA) FXD INC/1,030,000 PAR VALUE AT 99.73828155 %1,030,000.00 1.00 - - - (1,027,304.30) 1,027,304.30 - - 10/11/2018 10/11/2018 9128285B2 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.750% 9/30/20 - - - - - (855.98) - - - 10/12/2018 10/11/2018 10/12/2018 3130AF5B9 PURCHASED PAR VALUE OF F H L B DEB 3.000% 10/12/21 /BARCLAYS CAPITAL INC. FIXED IN/620,000 PAR VALUE AT 99.935 %620,000.00 1.00 - - - (619,597.00) 619,597.00 - - 10/12/2018 10/12/2018 10/12/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (619,597.00) 1.00 - - - 619,597.00 (619,597.00) - - 10/15/2018 02582JHG8 INTEREST EARNED ON AMERICAN EXPRESS 1.640% 12/15/21 $1 PV ON 420000.0000 SHARES DUE 10/15/2018 - - - - - 574.00 - - - 10/15/2018 06406FAA1 INTEREST EARNED ON BANK OF NY MTN 2.500% 4/15/21 $1 PV ON 750000.0000 SHARES DUE 10/15/2018 - - - - - 9,375.00 - - - 10/15/2018 06406FAA1 AMORTIZED PREMIUM ON BANK OF NY MTN 2.500% 4/15/21 CURRENT YEAR AMORTIZATION - - - - - - (1,417.71) - - 10/15/2018 161571HC1 INTEREST EARNED ON CHASE ISSUANCE TRUST 1.370% 6/15/21 $1 PV ON 856.2500 SHARES DUE 10/15/2018 $0.00114/PV ON 750,000.00 PV DUE 10/15/18 - - - - - 856.25 - - - 10/15/2018 161571HC1 AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT YEAR AMORTIZATION - - - - - - (2.25) - - 10/15/2018 3133EHRD7 INTEREST EARNED ON F F C B DEB 2.22794% 7/13/22 $1 PV ON 310000.0000 SHARES DUE 10/13/2018 - - - - - 575.55 - - - 10/15/2018 10/15/2018 10/15/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (174,006.47) 1.00 - - - 174,006.47 (174,006.47) - - 10/15/2018 10/15/2018 10/15/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 574.00 1.00 - - - (574.00) 574.00 - - 10/15/2018 47787XAC1 INTEREST EARNED ON JOHN DEERE OWNER 1.780% 4/15/21 $1 PV ON 459.8300 SHARES DUE 10/15/2018 $0.00148/PV ON 310,000.00 PV DUE 10/15/18 - - - - - 459.83 - - - 10/15/2018 58769DAD2 INTEREST EARNED ON MERCEDES BENZ AUTO 1.790% 4/15/20 $1 PV ON 551.9200 SHARES DUE 10/15/2018 $0.00149/PV ON 370,000.00 PV DUE 10/15/18 - - - - - 551.92 - - - 10/15/2018 65479BAD2 INTEREST EARNED ON NISSAN AUTO LEASE 2.050% 9/15/20 $1 PV ON 375.8300 SHARES DUE 10/15/2018 $0.00171/PV ON 220,000.00 PV DUE 10/15/18 - - - - - 375.83 - - - 10/15/2018 797299LR3 INTEREST EARNED ON SAN DIEGO CA PUBLIC 2.698% 10/15/19 $1 PV ON 500000.0000 SHARES DUE 10/15/2018 - - - - - 4,271.83 - - - 10/15/2018 797299LT9 INTEREST EARNED ON SAN DIEGO CA PUBLIC 2.994% 10/15/21 $1 PV ON 200000.0000 SHARES DUE 10/15/2018 - - - - - 1,896.20 - - - Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2018 ATTACHMENT 15 43 Page 28 of 34 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2018 10/15/2018 80284TAF2 INTEREST EARNED ON SANTANDER DRIVE 1.770% 9/15/20 $1 PV ON 73.9700 SHARES DUE 10/15/2018 $0.00148/PV ON 50,147.17 PV DUE 10/15/18 - - - - - 73.97 - - - 10/15/2018 10/15/2018 10/15/2018 80284TAF2 PAID DOWN PAR VALUE OF SANTANDER DRIVE 1.770% 9/15/20 (21,341.47) - - - - 21,341.47 (21,341.32) - 0.15 10/15/2018 89190BAD0 INTEREST EARNED ON TOYOTA AUTO 1.760% 7/15/21 $1 PV ON 762.6700 SHARES DUE 10/15/2018 $0.00147/PV ON 520,000.00 PV DUE 10/15/18 - - - - - 762.67 - - - 10/15/2018 89238MAD0 INTEREST EARNED ON TOYOTA AUTO 1.730% 2/16/21 $1 PV ON 542.0700 SHARES DUE 10/15/2018 $0.00144/PV ON 376,000.00 PV DUE 10/15/18 - - - - - 542.07 - - - 10/15/2018 90290AAC1 INTEREST EARNED ON USAA AUTO OWNER 1.700% 5/17/21 $1 PV ON 198.3300 SHARES DUE 10/15/2018 $0.00142/PV ON 140,000.00 PV DUE 10/15/18 - - - - - 198.33 - - - 10/15/2018 10/12/2018 10/15/2018 9128284C1 SOLD PAR VALUE OF U S TREASURY NT 2.250% 3/31/20 /CITIGROUP GLOBAL MARKETS INC./XOTC 300,000 PAR VALUE AT 99.253906 %(300,000.00) 0.99 - - - 297,761.72 (299,835.94) (2,074.22) - 10/15/2018 10/15/2018 9128284C1 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.250% 3/31/20 - - - - - 278.16 - - - 10/15/2018 10/10/2018 10/15/2018 9128285F3 PURCHASED PAR VALUE OF U S TREASURY NT 2.875% 10/15/21 /NOMURA SECURITIES/FIX INCOME/515,000 PAR VALUE AT 99.67519806 %515,000.00 1.00 - - - (513,327.27) 513,327.27 - - 10/18/2018 10/9/2018 10/18/2018 3130AF4M6 PURCHASED PAR VALUE OF F H L B DEB 3.360% 10/18/22 /NOMURA SECURITIES/FIX INCOME/255,000 PAR VALUE AT 99.85 %255,000.00 1.00 - - - (254,617.50) 254,617.50 - - 10/18/2018 10/18/2018 10/18/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 548,752.91 1.00 - - - (548,752.91) 548,752.91 - - 10/18/2018 10/18/2018 10/18/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 223.75 1.00 - - - (223.75) 223.75 - - 10/18/2018 43814PAC4 INTEREST EARNED ON HONDA AUTO 1.790% 9/20/21 $1 PV ON 223.7500 SHARES DUE 10/18/2018 $0.00149/PV ON 150,000.00 PV DUE 10/18/18 - - - - - 223.75 - - - 10/18/2018 10/15/2018 10/18/2018 9128284C1 SOLD PAR VALUE OF U S TREASURY NT 2.250% 3/31/20 /BONY/TORONTO DOMINION SECURITI/300,000 PAR VALUE AT 99.22265667 %(300,000.00) 0.99 - - - 297,667.97 (299,835.94) (2,167.97) - 10/18/2018 10/18/2018 9128284C1 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.250% 3/31/20 - - - - - 333.79 - - - 10/18/2018 10/16/2018 10/18/2018 94988J5D5 SOLD PAR VALUE OF WELLS FARGO BANK MTN 1.750% 5/24/19 /WELLS FARGO SECURITIES, LLC/XOTC 505,000 PAR VALUE AT 99.373 %(505,000.00) 0.99 - - - 501,833.65 (503,793.05) - (1,959.40) 10/18/2018 10/18/2018 94988J5D5 RECEIVED ACCRUED INTEREST ON SALE OF WELLS FARGO BANK MTN 1.750% 5/24/19 - - - - - 3,535.00 - - - 10/19/2018 10/17/2018 10/19/2018 02582JHG8 SOLD PAR VALUE OF AMERICAN EXPRESS 1.640% 12/15/21 /J.P. MORGAN SECURITIES LLC/XOTC 420,000 PAR VALUE AT 99.386718 %(420,000.00) 0.99 - - - 417,424.22 (419,932.72) - (2,508.50) 10/19/2018 10/19/2018 02582JHG8 RECEIVED ACCRUED INTEREST ON SALE OF AMERICAN EXPRESS 1.640% 12/15/21 - - - - - 76.53 - - - 10/19/2018 10/17/2018 10/19/2018 17305EGA7 SOLD PAR VALUE OF CITIBANK CREDIT CARD 1.740% 1/19/21 /MLPFS INC/FIXED INCOME/XOTC 380,000 PAR VALUE AT 99.804688 %(380,000.00) 1.00 - - - 379,257.81 (379,927.23) - (669.42) 10/19/2018 10/19/2018 17305EGA7 RECEIVED ACCRUED INTEREST ON SALE OF CITIBANK CREDIT CARD 1.740% 1/19/21 - - - - - 1,689.73 - - - 10/19/2018 10/19/2018 10/19/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 798,448.29 1.00 - - - (798,448.29) 798,448.29 - - 10/22/2018 05584PAD9 INTEREST EARNED ON BMW VEHICLE LEASE 2.070% 10/20/20 $1 PV ON 100000.0000 SHARES DUE 10/20/2018 - - - - - 172.50 - - - 10/22/2018 10/22/2018 10/22/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 172.50 1.00 - - - (172.50) 172.50 - - 10/23/2018 10/23/2018 10/23/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (523,741.29) 1.00 - - - 523,741.29 (523,741.29) - - 10/23/2018 90331HNG4 INTEREST EARNED ON US BANK NA MTN 2.050% 10/23/20 $1 PV ON 250000.0000 SHARES DUE 10/23/2018 - - - - - 2,562.50 - - - 10/23/2018 94988J5Q6 INTEREST EARNED ON WELLS FARGO MTN 2.84706% 7/23/21 $1 PV ON 500000.0000 SHARES DUE 10/23/2018 - - - - - 3,637.91 - - - 10/23/2018 10/16/2018 10/23/2018 94988J5T0 PURCHASED PAR VALUE OF WELLS FARGO MTN 3.625% 10/22/21 /WELLS FARGO SECURITIES, LLC/530,000 PAR VALUE AT 99.989 %530,000.00 1.00 - - - (529,941.70) 529,941.70 - - 10/24/2018 3133EHVR1 INTEREST EARNED ON F F C B DEB 2.22219% 8/24/20 $1 PV ON 130000.0000 SHARES DUE 10/24/2018 - - - - - 240.74 - - - 10/24/2018 10/24/2018 10/24/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (199,741.78) 1.00 - - - 199,741.78 (199,741.78) - - 10/24/2018 10/24/2018 10/24/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 3,809.77 1.00 - - - (3,809.77) 3,809.77 - - 10/24/2018 10/16/2018 10/24/2018 65478BAD3 PURCHASED PAR VALUE OF NISSAN AUTO LEASE 3.250% 9/15/21 /CITIGROUP GLOBAL MARKETS INC./200,000 PAR VALUE AT 99.99126 %200,000.00 1.00 - - - (199,982.52) 199,982.52 - - 10/24/2018 91159HHQ6 INTEREST EARNED ON US BANCORP MTN 2.98156% 1/24/22 $1 PV ON 500000.0000 SHARES DUE 10/24/2018 - - - - - 3,809.77 - - - 10/24/2018 91159HHQ6 AMORTIZED PREMIUM ON US BANCORP MTN 2.98156% 1/24/22 CURRENT YEAR AMORTIZATION - - - - - - (289.17) - - 10/25/2018 TRUST FEES COLLECTED CHARGED FOR PERIOD 09/01/2018 THRU 09/30/2018 COLLECTED BY DISBURSEMENT - - - - - (533.29) - - - 10/25/2018 05582QAD9 INTEREST EARNED ON BMW VEHICLE OWNER 1.160% 11/25/20 $1 PV ON 277.9800 SHARES DUE 10/25/2018 $0.00097/PV ON 287,567.11 PV DUE 10/25/18 - - - - - 277.98 - - - 10/25/2018 10/25/2018 10/25/2018 05582QAD9 PAID DOWN PAR VALUE OF BMW VEHICLE OWNER 1.160% 11/25/20 (27,471.95) - - - - 27,471.95 (27,471.83) - 0.12 10/25/2018 3133EHRZ8 INTEREST EARNED ON F F C B DEB 2.21581% 6/25/20 $1 PV ON 510000.0000 SHARES DUE 10/25/2018 - - - - - 941.72 - - - 10/25/2018 3136B1XP4 INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 616.1800 SHARES DUE 10/25/2018 $0.00297/PV ON 207,702.25 PV DUE 10/25/18 - - - - - 616.18 - - - 10/25/2018 3136B1XP4 AMORTIZED PREMIUM ON F N M A GTD REMIC 3.560% 9/25/21 CURRENT YEAR AMORTIZATION - - - - - - (99.63) - - 10/25/2018 10/25/2018 10/25/2018 3136B1XP4 PAID DOWN PAR VALUE OF F N M A GTD REMIC 3.560% 9/25/21 (9,461.35) - - - - 9,461.35 (9,622.62) (161.27) - 10/25/2018 3136B1XP4 INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 207702.2500 SHARES DUE 10/25/2018 PEN PAYMENT - - - - - 22.23 - - - 10/25/2018 3137BNN26 INTEREST EARNED ON F H L M C MLTCL MTG 1.780% 7/25/19 $1 PV ON 46.1000 SHARES DUE 10/25/2018 $0.00148/PV ON 31,077.33 PV DUE 10/25/18 - - - - - 46.10 - - - 10/25/2018 3137BNN26 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR AMORTIZATION - - - - - - (7.86) - - 10/25/2018 10/25/2018 10/25/2018 3137BNN26 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.780% 7/25/19 (61.98) - - - - 61.98 (62.12) - (0.14) 44 Page 29 of 34 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2018 10/25/2018 3137BPCF4 INTEREST EARNED ON F H L M C MLTCL MTG 1.376% 10/25/20 $1 PV ON 72.1700 SHARES DUE 10/25/2018 $0.00115/PV ON 62,940.10 PV DUE 10/25/18 - - - - - 72.17 - - - 10/25/2018 10/25/2018 10/25/2018 3137BPCF4 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.376% 10/25/20 (10,530.95) - - - - 10,530.95 (10,530.87) - 0.08 10/25/2018 3137FGZN8 INTEREST EARNED ON F H L M C MLTCL 2.31375% 2/25/23 $1 PV ON 454.0700 SHARES DUE 10/25/2018 $0.00193/PV ON 235,500.22 PV DUE 10/25/18 - - - - - 454.07 - - - 10/25/2018 10/25/2018 10/25/2018 3137FGZN8 PAID DOWN PAR VALUE OF F H L M C MLTCL 2.31375% 2/25/23 (25,432.42) - - - - 25,432.42 (25,432.42) - - 10/25/2018 10/25/2018 10/25/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 36,619.92 1.00 - - - (36,619.92) 36,619.92 - - 10/25/2018 10/25/2018 10/25/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 39,548.39 1.00 - - - (39,548.39) 39,548.39 - - 10/25/2018 742718EZ8 INTEREST EARNED ON PROCTER GAMBLE CO 1.750% 10/25/19 $1 PV ON 150000.0000 SHARES DUE 10/25/2018 - - - - - 1,312.50 - - - 10/31/2018 10/23/2018 10/31/2018 3137FJXN4 PURCHASED PAR VALUE OF F H L M C MLTCL 2.51056% 2/25/23 /J.P. MORGAN SECURITIES LLC/200,000 PAR VALUE AT 100 %200,000.00 1.00 - - - (200,000.00) 200,000.00 - - 10/31/2018 10/31/2018 10/31/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (688,088.86) 1.00 - - - 688,088.86 (688,088.86) - - 10/31/2018 9128284J6 INTEREST EARNED ON U S TREASURY NT 2.375% 4/30/20 $1 PV ON 2295000.0000 SHARES DUE 10/31/2018 - - - - - 27,253.13 - - - 10/31/2018 10/30/2018 10/31/2018 9128285G1 PURCHASED PAR VALUE OF U S TREASURY NT 2.875% 10/31/20 /BMO CAPITAL MARKETS CORP/BONDS/515,000 PAR VALUE AT 100.06640583 %515,000.00 1.00 - - - (515,341.99) 515,341.99 - - 11/1/2018 13063C4V9 INTEREST EARNED ON CALIFORNIA ST 1.050% 11/01/18 $1 PV ON 150000.0000 SHARES DUE 11/1/2018 - - - - - 787.50 - - - 11/1/2018 11/1/2018 11/1/2018 13063C4V9 MATURED PAR VALUE OF CALIFORNIA ST 1.050% 11/01/18 150,000 PAR VALUE AT 100 %(150,000.00) 1.00 - - - 150,000.00 (149,887.50) - 112.50 11/1/2018 13066YTY5 INTEREST EARNED ON CALIFORNIA ST DEPT 1.713% 5/01/21 $1 PV ON 942.1500 SHARES DUE 11/1/2018 $0.00888/PV ON 106,121.11 PV DUE 11/ 1/18 - - - - - 942.15 - - - 11/1/2018 13077CT38 INTEREST EARNED ON CALIFORNIA ST 1.982% 11/01/19 $1 PV ON 130000.0000 SHARES DUE 11/1/2018 - - - - - 1,288.30 - - - 11/1/2018 13077CT38 AMORTIZED PREMIUM ON CALIFORNIA ST 1.982% 11/01/19 CURRENT YEAR AMORTIZATION - - - - - - (108.63) - - 11/1/2018 3133EHTJ2 INTEREST EARNED ON F F C B DEB 2.326% 8/01/22 $1 PV ON 230000.0000 SHARES DUE 11/1/2018 - - - - - 460.68 - - - 11/1/2018 11/1/2018 11/1/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 460.68 1.00 - - - (460.68) 460.68 - - 11/1/2018 11/1/2018 11/1/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 157,354.31 1.00 - - - (157,354.31) 157,354.31 - - 11/1/2018 31846V203 INTEREST EARNED ON FIRST AM GOVT OB FD CL Y UNIT ON 0.0000 SHARES DUE 10/31/2018 INTEREST FROM 10/1/18 TO 10/31/18 - - - - - 852.00 - - - 11/1/2018 6055806F1 INTEREST EARNED ON MISSISSIPPI ST SER D 3.381% 11/01/18 $1 PV ON 100000.0000 SHARES DUE 11/1/2018 - - - - - 1,690.50 - - - 11/1/2018 6055806F1 AMORTIZED PREMIUM ON MISSISSIPPI ST SER D 3.381% 11/01/18 CURRENT YEAR AMORTIZATION - - - - - - (942.57) - - 11/1/2018 11/1/2018 11/1/2018 6055806F1 MATURED PAR VALUE OF MISSISSIPPI ST SER D 3.381% 11/01/18 100,000 PAR VALUE AT 100 %(100,000.00) 1.00 - - - 100,000.00 (100,000.00) - - 11/1/2018 702282ND2 INTEREST EARNED ON PASADENA CA UNIF 1.861% 11/01/18 $1 PV ON 250000.0000 SHARES DUE 11/1/2018 - - - - - 2,326.25 - - - 11/1/2018 702282ND2 AMORTIZED PREMIUM ON PASADENA CA UNIF 1.861% 11/01/18 CURRENT YEAR AMORTIZATION - - - - - - (305.29) - - 11/1/2018 11/1/2018 11/1/2018 702282ND2 MATURED PAR VALUE OF PASADENA CA UNIF 1.861% 11/01/18 250,000 PAR VALUE AT 100 %(250,000.00) 1.00 - - - 250,000.00 (250,000.00) - - 11/1/2018 78607QAT2 INTEREST EARNED ON SACRAMENTO CA 2.712% 11/01/19 $1 PV ON 130000.0000 SHARES DUE 11/1/2018 - - - - - 1,478.79 - - - 11/1/2018 10/31/2018 11/1/2018 912796RF8 PURCHASED PAR VALUE OF U S TREASURY BILL 10/10/19 /NOMURA SECURITIES/FIX INCOME/360,000 PAR VALUE AT 97.54421667 %360,000.00 0.98 - - - (351,159.18) 351,159.18 - - 11/2/2018 13066YTY5 INTEREST EARNED ON CALIFORNIA ST DEPT 1.713% 5/01/21 $1 PV ON 942.1500 SHARES DUE 11/1/2018 RATE REVISED - - - - - (942.15) - - - 11/2/2018 13066YTY5 INTEREST EARNED ON CALIFORNIA ST DEPT 1.713% 5/01/21 $1 PV ON 106121.1100 SHARES DUE 11/1/2018 - - - - - 908.93 - - - 11/2/2018 11/2/2018 11/2/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 852.00 1.00 - - - (852.00) 852.00 - - 11/5/2018 11/5/2018 11/5/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (33.22) 1.00 - - - 33.22 (33.22) - - 11/6/2018 3133EHXH1 INTEREST EARNED ON F F C B 2.36063% 9/06/22 $1 PV ON 260000.0000 SHARES DUE 11/6/2018 - - - - - 528.52 - - - 11/6/2018 11/6/2018 11/6/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 528.52 1.00 - - - (528.52) 528.52 - - 11/7/2018 11/7/2018 11/7/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 297,236.71 1.00 - - - (297,236.71) 297,236.71 - - 11/7/2018 11/7/2018 11/7/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (306,147.02) 1.00 - - - 306,147.02 (306,147.02) - - 11/7/2018 11/6/2018 11/7/2018 912796RF8 SOLD PAR VALUE OF U S TREASURY BILL 10/10/19 /MLPFS INC/FIXED INCOME/360,000 PAR VALUE AT 97.55909167 %(360,000.00) 0.98 - - - 351,159.18 (351,159.18) - - 11/7/2018 912796RF8 INTEREST EARNED ON U S TREASURY BILL 10/10/19 $1 PV ON 360000.0000 SHARES DUE 11/6/2018 360,000 PAR VALUE AT 97.55909167 %- - - - - 53.55 - - - 11/7/2018 11/6/2018 11/7/2018 9128284C1 SOLD PAR VALUE OF U S TREASURY NT 2.250% 3/31/20 /CITIGROUP GLOBAL MARKETS INC./155,000 PAR VALUE AT 99.16015484 %(155,000.00) 0.99 - - - 153,698.24 (154,915.23) (1,216.99) - 11/7/2018 11/7/2018 9128284C1 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.250% 3/31/20 - - - - - 364.08 - - - 11/7/2018 11/6/2018 11/7/2018 9128285F3 PURCHASED PAR VALUE OF U S TREASURY NT 2.875% 10/15/21 /MLPFS INC/FIXED INCOME/515,000 PAR VALUE AT 99.66015534 %515,000.00 1.00 - - - (513,249.80) 513,249.80 - - 11/7/2018 11/7/2018 9128285F3 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.875% 10/15/21 - - - - - (935.56) - - - 11/8/2018 11/8/2018 11/8/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 477,281.75 1.00 - - - (477,281.75) 477,281.75 - - 11/8/2018 11/8/2018 11/8/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (297,236.71) 1.00 - - - 297,236.71 (297,236.71) - - 11/8/2018 11/7/2018 11/8/2018 76116FAE7 PURCHASED PAR VALUE OF RESOLUTION FD CORP STRIP 10/15/20 /PERSHING LLC/510,000 PAR VALUE AT 94.298 %510,000.00 0.94 - - - (480,919.80) 480,919.80 - - 45 Page 30 of 34 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2018 11/8/2018 10/19/2018 11/8/2018 801096AP3 PURCHASED PAR VALUE OF SANTA ANA CA CMNTY 3.346% 9/01/21 /PERSHING LLC/240,000 PAR VALUE AT 100 %240,000.00 1.00 - - - (240,000.00) 240,000.00 - - 11/8/2018 11/7/2018 11/8/2018 9128284P2 SOLD PAR VALUE OF U S TREASURY NT 2.625% 5/15/21 /MLPFS INC/FIXED INCOME/390,000 PAR VALUE AT 99.05078205 %(390,000.00) 0.99 - - - 386,298.05 (388,539.06) (2,241.01) - 11/8/2018 11/8/2018 9128284P2 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.625% 5/15/21 - - - - - 4,924.01 - - - 11/8/2018 11/7/2018 11/8/2018 9128284Y3 SOLD PAR VALUE OF U S TREASURY NT 2.625% 8/31/20 /J.P. MORGAN SECURITIES LLC/510,000 PAR VALUE AT 99.44921961 %(510,000.00) 0.99 - - - 507,191.02 (509,574.18) (2,383.16) - 11/8/2018 11/8/2018 9128284Y3 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.625% 8/31/20 - - - - - 2,551.76 - - - 11/13/2018 037833CS7 INTEREST EARNED ON APPLE INC 1.800% 5/11/20 $1 PV ON 485000.0000 SHARES DUE 11/11/2018 - - - - - 4,365.00 - - - 11/13/2018 3133EH2J1 INTEREST EARNED ON F F C B 2.29713% 12/11/20 $1 PV ON 510000.0000 SHARES DUE 11/11/2018 - - - - - 1,008.82 - - - 11/13/2018 3133EHRD7 INTEREST EARNED ON F F C B DEB 2.3595% 7/13/22 $1 PV ON 310000.0000 SHARES DUE 11/13/2018 - - - - - 629.86 - - - 11/13/2018 11/13/2018 11/13/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 8,441.18 1.00 - - - (8,441.18) 8,441.18 - - 11/13/2018 478160CH5 INTEREST EARNED ON JOHNSON JOHNSON 1.950% 11/10/20 $1 PV ON 250000.0000 SHARES DUE 11/10/2018 - - - - - 2,437.50 - - - 11/15/2018 06406HBM0 INTEREST EARNED ON BANK NY MELLON MTN 5.450% 5/15/19 $1 PV ON 242000.0000 SHARES DUE 11/15/2018 - - - - - 6,594.50 - - - 11/15/2018 06406HBM0 AMORTIZED PREMIUM ON BANK NY MELLON MTN 5.450% 5/15/19 CURRENT YEAR AMORTIZATION - - - - - - (4,303.72) - - 11/15/2018 161571HC1 INTEREST EARNED ON CHASE ISSUANCE TRUST 1.370% 6/15/21 $1 PV ON 856.2500 SHARES DUE 11/15/2018 $0.00114/PV ON 750,000.00 PV DUE 11/15/18 - - - - - 856.25 - - - 11/15/2018 161571HC1 AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT YEAR AMORTIZATION - - - - - - (1.95) - - 11/15/2018 166764AN0 INTEREST EARNED ON CHEVRON CORP 2.193% 11/15/19 $1 PV ON 500000.0000 SHARES DUE 11/15/2018 - - - - - 5,482.50 - - - 11/15/2018 166764AN0 AMORTIZED PREMIUM ON CHEVRON CORP 2.193% 11/15/19 CURRENT YEAR AMORTIZATION - - - - - - (952.45) - - 11/15/2018 11/15/2018 11/15/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 12,801.32 1.00 - - - (12,801.32) 12,801.32 - - 11/15/2018 11/15/2018 11/15/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 70,583.37 1.00 - - - (70,583.37) 70,583.37 - - 11/15/2018 47787XAC1 INTEREST EARNED ON JOHN DEERE OWNER 1.780% 4/15/21 $1 PV ON 459.8300 SHARES DUE 11/15/2018 $0.00148/PV ON 310,000.00 PV DUE 11/15/18 - - - - - 459.83 - - - 11/15/2018 11/15/2018 11/15/2018 47787XAC1 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 1.780% 4/15/21 (14,540.51) - - - - 14,540.51 (14,538.44) - 2.07 11/15/2018 544445AY5 INTEREST EARNED ON LOS ANGELES CA DEPT 1.750% 5/15/19 $1 PV ON 100000.0000 SHARES DUE 11/15/2018 - - - - - 875.00 - - - 11/15/2018 544445AZ2 INTEREST EARNED ON LOS ANGELES CA DEPT 2.092% 5/15/20 $1 PV ON 100000.0000 SHARES DUE 11/15/2018 - - - - - 1,046.00 - - - 11/15/2018 58769DAD2 INTEREST EARNED ON MERCEDES BENZ AUTO 1.790% 4/15/20 $1 PV ON 551.9200 SHARES DUE 11/15/2018 $0.00149/PV ON 370,000.00 PV DUE 11/15/18 - - - - - 551.92 - - - 11/15/2018 65478BAD3 INTEREST EARNED ON NISSAN AUTO LEASE 3.250% 9/15/21 $1 PV ON 379.1700 SHARES DUE 11/15/2018 $0.00190/PV ON 200,000.00 PV DUE 11/15/18 - - - - - 379.17 - - - 11/15/2018 65479BAD2 INTEREST EARNED ON NISSAN AUTO LEASE 2.050% 9/15/20 $1 PV ON 375.8300 SHARES DUE 11/15/2018 $0.00171/PV ON 220,000.00 PV DUE 11/15/18 - - - - - 375.83 - - - 11/15/2018 80284TAF2 INTEREST EARNED ON SANTANDER DRIVE 1.770% 9/15/20 $1 PV ON 42.4900 SHARES DUE 11/15/2018 $0.00147/PV ON 28,805.70 PV DUE 11/15/18 - - - - - 42.49 - - - 11/15/2018 11/15/2018 11/15/2018 80284TAF2 PAID DOWN PAR VALUE OF SANTANDER DRIVE 1.770% 9/15/20 (22,233.86) - - - - 22,233.86 (22,233.71) - 0.15 11/15/2018 89190BAD0 INTEREST EARNED ON TOYOTA AUTO 1.760% 7/15/21 $1 PV ON 762.6700 SHARES DUE 11/15/2018 $0.00147/PV ON 520,000.00 PV DUE 11/15/18 - - - - - 762.67 - - - 11/15/2018 89238MAD0 INTEREST EARNED ON TOYOTA AUTO 1.730% 2/16/21 $1 PV ON 542.0700 SHARES DUE 11/15/2018 $0.00144/PV ON 376,000.00 PV DUE 11/15/18 - - - - - 542.07 - - - 11/15/2018 11/15/2018 11/15/2018 89238MAD0 PAID DOWN PAR VALUE OF TOYOTA AUTO 1.730% 2/16/21 (11,117.41) - - - - 11,117.41 (11,116.10) - 1.31 11/15/2018 90290AAC1 INTEREST EARNED ON USAA AUTO OWNER 1.700% 5/17/21 $1 PV ON 198.3300 SHARES DUE 11/15/2018 $0.00142/PV ON 140,000.00 PV DUE 11/15/18 - - - - - 198.33 - - - 11/15/2018 9128284P2 INTEREST EARNED ON U S TREASURY NT 2.625% 5/15/21 $1 PV ON 890000.0000 SHARES DUE 11/15/2018 - - - - - 11,681.25 - - - 11/15/2018 91412G2R5 INTEREST EARNED ON UNIV OF CALIFORNIA 1.877% 5/15/20 $1 PV ON 90000.0000 SHARES DUE 11/15/2018 - - - - - 844.65 - - - 11/15/2018 91412G2S3 INTEREST EARNED ON UNIV OF CALIFORNIA 2.112% 5/15/21 $1 PV ON 140000.0000 SHARES DUE 11/15/2018 - - - - - 1,478.40 - - - 11/15/2018 91412GD36 INTEREST EARNED ON UNIV OF CA 1.169% 5/15/19 $1 PV ON 140000.0000 SHARES DUE 11/15/2018 - - - - - 818.30 - - - 11/15/2018 91412GWV3 INTEREST EARNED ON UNIV OF CA 2.003% 5/15/19 $1 PV ON 250000.0000 SHARES DUE 11/15/2018 - - - - - 2,503.75 - - - 11/19/2018 11/7/2018 11/19/2018 3137FJYA1 PURCHASED PAR VALUE OF F H L M C MLTCL MTG 3.454% 5/25/23 /MLPFS INC/FIXED INCOME/380,000 PAR VALUE AT 99.9973 %380,000.00 1.00 - - - (379,989.74) 379,989.74 - - 11/19/2018 11/19/2018 3137FJYA1 PAID ACCRUED INTEREST ON PURCHASE OF F H L M C MLTCL MTG 3.454% 5/25/23 - - - - - (656.26) - - - 11/19/2018 11/19/2018 11/19/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (380,646.00) 1.00 - - - 380,646.00 (380,646.00) - - 11/19/2018 11/19/2018 11/19/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 223.75 1.00 - - - (223.75) 223.75 - - 11/19/2018 43814PAC4 INTEREST EARNED ON HONDA AUTO 1.790% 9/20/21 $1 PV ON 223.7500 SHARES DUE 11/18/2018 $0.00149/PV ON 150,000.00 PV DUE 11/18/18 - - - - - 223.75 - - - 11/20/2018 05584PAD9 INTEREST EARNED ON BMW VEHICLE LEASE 2.070% 10/20/20 $1 PV ON 172.5000 SHARES DUE 11/20/2018 $0.00173/PV ON 100,000.00 PV DUE 11/20/18 - - - - - 172.50 - - - 11/20/2018 11/20/2018 11/20/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 172.50 1.00 - - - (172.50) 172.50 - - 46 Page 31 of 34 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2018 11/26/2018 TRUST FEES COLLECTED CHARGED FOR PERIOD 10/01/2018 THRU 10/31/2018 COLLECTED BY DISBURSEMENT - - - - - (533.99) - - - 11/26/2018 05582QAD9 INTEREST EARNED ON BMW VEHICLE OWNER 1.160% 11/25/20 $1 PV ON 251.4300 SHARES DUE 11/25/2018 $0.00097/PV ON 260,095.16 PV DUE 11/25/18 - - - - - 251.43 - - - 11/26/2018 11/25/2018 11/26/2018 05582QAD9 PAID DOWN PAR VALUE OF BMW VEHICLE OWNER 1.160% 11/25/20 (29,226.59) - - - - 29,226.59 (29,226.46) - 0.13 11/26/2018 3133EHRZ8 INTEREST EARNED ON F F C B DEB 2.28138% 6/25/20 $1 PV ON 510000.0000 SHARES DUE 11/25/2018 - - - - - 1,001.91 - - - 11/26/2018 3133EHVR1 INTEREST EARNED ON F F C B DEB 2.2965% 8/24/20 $1 PV ON 130000.0000 SHARES DUE 11/24/2018 - - - - - 257.08 - - - 11/26/2018 3136B1XP4 INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 588.1100 SHARES DUE 11/25/2018 $0.00297/PV ON 198,240.90 PV DUE 11/25/18 - - - - - 588.11 - - - 11/26/2018 3136B1XP4 AMORTIZED PREMIUM ON F N M A GTD REMIC 3.560% 9/25/21 CURRENT YEAR AMORTIZATION - - - - - - (98.26) - - 11/26/2018 11/25/2018 11/26/2018 3136B1XP4 PAID DOWN PAR VALUE OF F N M A GTD REMIC 3.560% 9/25/21 (8,440.40) - - - - 8,440.40 (8,580.08) (139.68) - 11/26/2018 3136B1XP4 INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 198240.9000 SHARES DUE 11/25/2018 PEN PAYMENT - - - - - 22.32 - - - 11/26/2018 3137BNN26 INTEREST EARNED ON F H L M C MLTCL MTG 1.780% 7/25/19 $1 PV ON 46.0100 SHARES DUE 11/25/2018 $0.00148/PV ON 31,015.35 PV DUE 11/25/18 - - - - - 46.01 - - - 11/26/2018 3137BNN26 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR AMORTIZATION - - - - - - (8.11) - - 11/26/2018 11/25/2018 11/26/2018 3137BNN26 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.780% 7/25/19 (2,857.16) - - - - 2,857.16 (2,862.99) - (5.83) 11/26/2018 3137BPCF4 INTEREST EARNED ON F H L M C MLTCL MTG 1.376% 10/25/20 $1 PV ON 107.1700 SHARES DUE 11/25/2018 $0.00204/PV ON 52,409.15 PV DUE 11/25/18 - - - - - 107.17 - - - 11/26/2018 11/25/2018 11/26/2018 3137BPCF4 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.376% 10/25/20 (21,822.42) - - - - 21,822.42 (21,822.25) - 0.17 11/26/2018 3137FGZN8 INTEREST EARNED ON F H L M C MLTCL 2.54258% 2/25/23 $1 PV ON 445.0900 SHARES DUE 11/25/2018 $0.00212/PV ON 210,067.80 PV DUE 11/25/18 - - - - - 445.09 - - - 11/26/2018 11/25/2018 11/26/2018 3137FGZN8 PAID DOWN PAR VALUE OF F H L M C MLTCL 2.54258% 2/25/23 (3,913.52) 3,669.85 - - - 3,913.52 (3,913.52) - - 11/26/2018 3137FJXN4 INTEREST EARNED ON F H L M C MLTCL 2.09213% 2/25/23 $1 PV ON 200000.0000 SHARES DUE 11/25/2018 - - - - - 348.69 - - - 11/26/2018 11/26/2018 11/26/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 13,758.13 1.00 - - - (13,758.13) 13,758.13 - - 11/26/2018 11/26/2018 11/26/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 55,035.78 1.00 - - - (55,035.78) 55,035.78 - - 11/28/2018 06050TMH2 INTEREST EARNED ON BANK OF AMERICA NA 25.6138% 8/28/20 $1 PV ON 410000.0000 SHARES DUE 11/28/2018 - - - - - 2,683.76 - - - 11/28/2018 11/28/2018 11/28/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (122,316.24) 1.00 - - - 122,316.24 (122,316.24) - - 11/28/2018 11/15/2018 11/28/2018 80136PCY7 PURCHASED PAR VALUE OF SANTA BARBARA CA 3.300% 12/01/21 /RAYMOND JAMES/FI/125,000 PAR VALUE AT 100 %125,000.00 1.00 - - - (125,000.00) 125,000.00 - - 11/30/2018 11/30/2018 11/30/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 6,375.00 1.00 - - - (6,375.00) 6,375.00 - - 11/30/2018 9128284Q0 INTEREST EARNED ON U S TREASURY NT 2.500% 5/31/20 $1 PV ON 510000.0000 SHARES DUE 11/30/2018 - - - - - 6,375.00 - - - 12/3/2018 010831DL6 INTEREST EARNED ON ALAMEDA CNTY CA JT 2.485% 6/01/19 $1 PV ON 260000.0000 SHARES DUE 12/1/2018 - - - - - 3,230.50 - - - 12/3/2018 010831DN2 INTEREST EARNED ON ALAMEDA CNTY CA JT 2.866% 6/01/21 $1 PV ON 255000.0000 SHARES DUE 12/1/2018 - - - - - 3,654.15 - - - 12/3/2018 166764AU4 INTEREST EARNED ON CHEVRON CORP 2.81992% 3/03/22 $1 PV ON 500000.0000 SHARES DUE 12/3/2018 - - - - - 3,564.06 - - - 12/3/2018 166764AU4 AMORTIZED PREMIUM ON CHEVRON CORP 2.81992% 3/03/22 CURRENT YEAR AMORTIZATION - - - - - - (299.34) - - 12/3/2018 3133EHTJ2 INTEREST EARNED ON F F C B DEB 2.36938% 8/01/22 $1 PV ON 230000.0000 SHARES DUE 12/1/2018 - - - - - 454.13 - - - 12/3/2018 12/3/2018 12/3/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 63,224.34 1.00 - - - (63,224.34) 63,224.34 - - 12/3/2018 31846V203 INTEREST EARNED ON FIRST AM GOVT OB FD CL Y UNIT ON 0.0000 SHARES DUE 11/30/2018 INTEREST FROM 11/1/18 TO 11/30/18 - - - - - 496.10 - - - 12/3/2018 12/1/2018 12/1/2018 54473ERQ9 MATURED PAR VALUE OF LOS ANGELES CNTY CA 2.036% 12/01/18 50,000 PAR VALUE AT 100 %(50,000.00) 1.00 - - - 50,000.00 (50,000.00) - - 12/3/2018 54473ERQ9 INTEREST EARNED ON LOS ANGELES CNTY CA 2.036% 12/01/18 $1 PV ON 50000.0000 SHARES DUE 12/1/2018 - - - - - 509.00 - - - 12/3/2018 717081DU4 INTEREST EARNED ON PFIZER INC 1.450% 6/03/19 $1 PV ON 250000.0000 SHARES DUE 12/3/2018 - - - - - 1,812.50 - - - 12/4/2018 12/4/2018 12/4/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 69,853.40 1.00 - - - (69,853.40) 69,853.40 - - 12/4/2018 12/4/2018 12/4/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (204,934.88) 1.00 - - - 204,934.88 (204,934.88) - - 12/4/2018 12/3/2018 12/4/2018 9128284C1 SOLD PAR VALUE OF U S TREASURY NT 2.250% 3/31/20 /CITIGROUP GLOBAL MARKETS INC./905,000 PAR VALUE AT 99.29296906 %(905,000.00) 0.99 - - - 898,601.37 (904,505.08) (5,903.71) - 12/4/2018 12/4/2018 9128284C1 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.250% 3/31/20 - - - - - 3,636.16 - - - 12/4/2018 12/3/2018 12/4/2018 9128285L0 PURCHASED PAR VALUE OF U S TREASURY NT 2.875% 11/15/21 /HSBC SECURITIES (USA) FXD INC/1,035,000 PAR VALUE AT 100.12109372 %1,035,000.00 1.00 - - - (1,036,253.32) 1,036,253.32 - - 12/4/2018 12/4/2018 9128285L0 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.875% 11/15/21 - - - - - (1,561.79) - - - 12/6/2018 3133EHXH1 INTEREST EARNED ON F F C B 2.39788% 9/06/22 $1 PV ON 260000.0000 SHARES DUE 12/6/2018 - - - - - 519.54 - - - 12/6/2018 12/6/2018 12/6/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 519.54 1.00 - - - (519.54) 519.54 - - 12/11/2018 3133EH2J1 INTEREST EARNED ON F F C B 2.32844% 12/11/20 $1 PV ON 510000.0000 SHARES DUE 12/11/2018 - - - - - 989.59 - - - 12/11/2018 12/11/2018 12/11/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 989.59 1.00 - - - (989.59) 989.59 - - 12/12/2018 12/11/2018 12/12/2018 3135G0T29 SOLD PAR VALUE OF F N M A DEB 1.500% 2/28/20 /CITIGROUP GLOBAL MARKETS INC./300,000 PAR VALUE AT 98.491 %(300,000.00) 0.98 - - - 295,473.00 (299,808.00) - (4,335.00) 12/12/2018 12/12/2018 3135G0T29 RECEIVED ACCRUED INTEREST ON SALE OF F N M A DEB 1.500% 2/28/20 - - - - - 1,300.00 - - - 47 Page 32 of 34 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2018 12/12/2018 12/12/2018 12/12/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 41,337.11 1.00 - - - (41,337.11) 41,337.11 - - 12/12/2018 12/4/2018 12/12/2018 65478NAD7 PURCHASED PAR VALUE OF NISSAN AUTO 3.220% 6/15/23 /MIZUHO SECURITIES USA FXD INC/450,000 PAR VALUE AT 99.98084 %450,000.00 1.00 - - - (449,913.78) 449,913.78 - - 12/12/2018 12/11/2018 12/12/2018 9128284J6 SOLD PAR VALUE OF U S TREASURY NT 2.375% 4/30/20 /HSBC SECURITIES (USA) FXD INC/195,000 PAR VALUE AT 99.45669744 %(195,000.00) 0.99 - - - 193,940.56 (194,230.66) (290.10) - 12/12/2018 12/12/2018 9128284J6 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.375% 4/30/20 - - - - - 537.33 - - - 12/13/2018 3133EHRD7 INTEREST EARNED ON F F C B DEB 2.39438% 7/13/22 $1 PV ON 310000.0000 SHARES DUE 12/13/2018 - - - - - 618.55 - - - 12/13/2018 12/13/2018 12/13/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 517,892.26 1.00 - - - (517,892.26) 517,892.26 - - 12/13/2018 589331AN7 AMORTIZED PREMIUM ON MERCK CO INC 5.000% 6/30/19 CURRENT YEAR AMORTIZATION - - - - - - (10,368.84) - - 12/13/2018 12/13/2018 12/13/2018 589331AN7 FULL CALL PAR VALUE OF MERCK CO INC 5.000% 6/30/19 /CALLS/(500,000.00) 1.01 - - - 505,954.31 (505,954.50) - (0.19) 12/13/2018 589331AN7 INTEREST EARNED ON MERCK CO INC 5.000% 6/30/19 $1 PV ON 500000.0000 SHARES DUE 12/13/2018 - - - - - 11,319.40 - - - 12/17/2018 161571HC1 INTEREST EARNED ON CHASE ISSUANCE TRUST 1.370% 6/15/21 $1 PV ON 750000.0000 SHARES DUE 12/15/2018 - - - - - 856.25 - - - 12/17/2018 161571HC1 AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT YEAR AMORTIZATION - - - - - - (1.58) - - 12/17/2018 17275RAX0 INTEREST EARNED ON CISCO SYSTEMS INC 2.450% 6/15/20 $1 PV ON 600000.0000 SHARES DUE 12/15/2018 - - - - - 7,350.00 - - - 12/17/2018 12/13/2018 12/17/2018 3133EH2J1 SOLD PAR VALUE OF F F C B 2.32844% 12/11/20 /BONY/TORONTO DOMINION SECURITI/510,000 PAR VALUE AT 99.9694 %(510,000.00) 1.00 - - - 509,843.94 (510,000.00) - (156.06) 12/17/2018 12/17/2018 3133EH2J1 RECEIVED ACCRUED INTEREST ON SALE OF F F C B 2.32844% 12/11/20 - - - - - 204.87 - - - 12/17/2018 12/13/2018 12/17/2018 3133EHRZ8 SOLD PAR VALUE OF F F C B DEB 2.28138% 6/25/20 /BONY/TORONTO DOMINION SECURITI/510,000 PAR VALUE AT 100.0008 %(510,000.00) 1.00 - - - 510,004.08 (510,000.00) - 4.08 12/17/2018 12/17/2018 3133EHRZ8 RECEIVED ACCRUED INTEREST ON SALE OF F F C B DEB 2.28138% 6/25/20 - - - - - 721.47 - - - 12/17/2018 12/13/2018 12/17/2018 3133EHVR1 SOLD PAR VALUE OF F F C B DEB 2.2965% 8/24/20 /BONY/TORONTO DOMINION SECURITI/130,000 PAR VALUE AT 100.0174 %(130,000.00) 1.00 - - - 130,022.62 (130,000.00) - 22.62 12/17/2018 12/17/2018 3133EHVR1 RECEIVED ACCRUED INTEREST ON SALE OF F F C B DEB 2.2965% 8/24/20 - - - - - 193.09 - - - 12/17/2018 12/17/2018 12/17/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (630,591.90) 1.00 - - - 630,591.90 (630,591.90) - - 12/17/2018 12/17/2018 12/17/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 441,838.04 1.00 - - - (441,838.04) 441,838.04 - - 12/17/2018 47787XAC1 INTEREST EARNED ON JOHN DEERE OWNER 1.780% 4/15/21 $1 PV ON 438.2700 SHARES DUE 12/15/2018 $0.00148/PV ON 295,459.49 PV DUE 12/15/18 - - - - - 438.27 - - - 12/17/2018 12/15/2018 12/17/2018 47787XAC1 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 1.780% 4/15/21 (22,442.26) - - - - 22,442.26 (22,439.06) - 3.20 12/17/2018 58769DAD2 INTEREST EARNED ON MERCEDES BENZ AUTO 1.790% 4/15/20 $1 PV ON 551.9200 SHARES DUE 12/15/2018 $0.00149/PV ON 370,000.00 PV DUE 12/15/18 - - - - - 551.92 - - - 12/17/2018 65478BAD3 INTEREST EARNED ON NISSAN AUTO LEASE 3.250% 9/15/21 $1 PV ON 541.6700 SHARES DUE 12/15/2018 $0.00271/PV ON 200,000.00 PV DUE 12/15/18 - - - - - 541.67 - - - 12/17/2018 65479BAD2 INTEREST EARNED ON NISSAN AUTO LEASE 2.050% 9/15/20 $1 PV ON 375.8300 SHARES DUE 12/15/2018 $0.00171/PV ON 220,000.00 PV DUE 12/15/18 - - - - - 375.83 - - - 12/17/2018 80284TAF2 INTEREST EARNED ON SANTANDER DRIVE 1.770% 9/15/20 $1 PV ON 9.6900 SHARES DUE 12/15/2018 $0.00147/PV ON 6,571.84 PV DUE 12/15/18 - - - - - 9.69 - - - 12/17/2018 12/17/2018 12/17/2018 80284TAF2 PAID DOWN PAR VALUE OF SANTANDER DRIVE 1.770% 9/15/20 CMO FINAL PAYDOWN (6,571.84) - - - - 6,571.84 (6,571.79) - 0.05 12/17/2018 89190BAD0 INTEREST EARNED ON TOYOTA AUTO 1.760% 7/15/21 $1 PV ON 762.6700 SHARES DUE 12/15/2018 $0.00147/PV ON 520,000.00 PV DUE 12/15/18 - - - - - 762.67 - - - 12/17/2018 89238MAD0 INTEREST EARNED ON TOYOTA AUTO 1.730% 2/16/21 $1 PV ON 526.0400 SHARES DUE 12/15/2018 $0.00144/PV ON 364,882.59 PV DUE 12/15/18 - - - - - 526.04 - - - 12/17/2018 12/15/2018 12/17/2018 89238MAD0 PAID DOWN PAR VALUE OF TOYOTA AUTO 1.730% 2/16/21 (26,851.20) - - - - 26,851.20 (26,848.04) - 3.16 12/17/2018 90290AAC1 INTEREST EARNED ON USAA AUTO OWNER 1.700% 5/17/21 $1 PV ON 198.3300 SHARES DUE 12/15/2018 $0.00142/PV ON 140,000.00 PV DUE 12/15/18 - - - - - 198.33 - - - 12/17/2018 12/13/2018 12/17/2018 9128284J6 SOLD PAR VALUE OF U S TREASURY NT 2.375% 4/30/20 /CITIGROUP GLOBAL MARKETS INC./2,100,000 PAR VALUE AT 99.44140619 %(2,100,000.00) 0.99 - - - 2,088,269.53 (2,093,707.03) (5,437.50) - 12/17/2018 12/17/2018 9128284J6 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.375% 4/30/20 - - - - - 6,475.48 - - - 12/17/2018 12/13/2018 12/17/2018 9128284Q0 SOLD PAR VALUE OF U S TREASURY NT 2.500% 5/31/20 /BONY/TORONTO DOMINION SECURITI/510,000 PAR VALUE AT 99.59375098 %(510,000.00) 1.00 - - - 507,928.13 (509,741.02) (1,812.89) - 12/17/2018 12/17/2018 9128284Q0 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.500% 5/31/20 - - - - - 595.47 - - - 12/17/2018 9128284T4 INTEREST EARNED ON U S TREASURY NT 2.625% 6/15/21 $1 PV ON 640000.0000 SHARES DUE 12/15/2018 - - - - - 8,400.00 - - - 12/17/2018 12/13/2018 12/17/2018 9128285Q9 PURCHASED PAR VALUE OF U S TREASURY NT 2.750% 11/30/20 /MLPFS INC/FIXED INCOME/3,990,000 PAR VALUE AT 99.98046867 %3,990,000.00 1.00 - - - (3,989,220.70) 3,989,220.70 - - 12/17/2018 12/17/2018 9128285Q9 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.750% 11/30/20 - - - - - (5,124.52) - - - 12/17/2018 12/13/2018 12/17/2018 9128285R7 PURCHASED PAR VALUE OF U S TREASURY NT 2.625% 12/15/21 /MLPFS INC/FIXED INCOME/520,000 PAR VALUE AT 99.63281346 %520,000.00 1.00 - - - (518,090.63) 518,090.63 - - 12/17/2018 12/17/2018 9128285R7 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.625% 12/15/21 - - - - - (75.00) - - - 12/17/2018 12/13/2018 12/17/2018 912828XY1 SOLD PAR VALUE OF U S TREASURY NT 2.500% 6/30/20 /CITIGROUP GLOBAL MARKETS INC./770,000 PAR VALUE AT 99.58593766 %(770,000.00) 1.00 - - - 766,811.72 (769,187.89) (2,376.17) - 12/17/2018 43451 912828XY1 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.500% 6/30/20 0.0000 0.000000 - - - 8,892.66 - - - 12/17/2018 43447 43451 91412HDJ9 PURCHASED PAR VALUE OF UNIV OF CA 3.283% 5/15/22 /BARCLAYS CAPITAL INC. FIXED IN/285,000 PAR VALUE AT 100.351 %285,000.0000 1.003510 - - - (286,000.35) 286,000.35 - - 12/17/2018 43451 91412HDJ9 PAID ACCRUED INTEREST ON PURCHASE OF UNIV OF CA 3.283% 5/15/22 0.0000 0.000000 - - - (831.69) - - - 48 Page 33 of 34 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2018 12/17/2018 931142EA7 INTEREST EARNED ON WALMART STORES INC 1.900% 12/15/20 $1 PV ON 500000.0000 SHARES DUE 12/15/2018 0.0000 0.000000 - - - 4,750.00 - - - 12/18/2018 12/18/2018 12/18/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 223.7500 1.000000 - - - (223.75) 223.75 - - 12/18/2018 43814PAC4 INTEREST EARNED ON HONDA AUTO 1.790% 9/20/21 $1 PV ON 223.7500 SHARES DUE 12/18/2018 $0.00149/PV ON 150,000.00 PV DUE 12/18/18 0.0000 0.000000 - - - 223.75 - - - 12/20/2018 05584PAD9 INTEREST EARNED ON BMW VEHICLE LEASE 2.070% 10/20/20 $1 PV ON 172.5000 SHARES DUE 12/20/2018 $0.00173/PV ON 100,000.00 PV DUE 12/20/18 0.0000 0.000000 - - - 172.50 - - - 12/20/2018 12/20/2018 12/20/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 172.5000 1.000000 - - - (172.50) 172.50 - - 12/24/2018 TRUST FEES COLLECTED CHARGED FOR PERIOD 11/01/2018 THRU 11/30/2018 COLLECTED BY DISBURSEMENT 0.0000 0.000000 - - - (535.15) - - - 12/24/2018 12/24/2018 12/24/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 7,765.7100 1.000000 - - - (7,765.71) 7,765.71 - - 12/24/2018 48125LRJ3 INTEREST EARNED ON JP MORGAN MTN 2.92506% 9/23/19 $1 PV ON 845000.0000 SHARES DUE 12/23/2018 0.0000 0.000000 - - - 6,314.75 - - - 12/24/2018 48125LRJ3 AMORTIZED PREMIUM ON JP MORGAN MTN 2.92506% 9/23/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (891.50) - - 12/24/2018 931142EJ8 INTEREST EARNED ON WALMART INC 3.125% 6/23/21 $1 PV ON 130000.0000 SHARES DUE 12/23/2018 0.0000 0.000000 - - - 1,986.11 - - - 12/26/2018 05582QAD9 INTEREST EARNED ON BMW VEHICLE OWNER 1.160% 11/25/20 $1 PV ON 223.1700 SHARES DUE 12/25/2018 $0.00097/PV ON 230,868.57 PV DUE 12/25/18 0.0000 0.000000 - - - 223.17 - - - 12/26/2018 12/25/2018 12/26/2018 05582QAD9 PAID DOWN PAR VALUE OF BMW VEHICLE OWNER 1.160% 11/25/20 -24,623.9300 0.000000 - - - 24,623.93 (24,623.82) - 0.11 12/26/2018 3136B1XP4 INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 563.0700 SHARES DUE 12/25/2018 $0.00297/PV ON 189,800.50 PV DUE 12/25/18 0.0000 0.000000 - - - 563.07 - - - 12/26/2018 3136B1XP4 AMORTIZED PREMIUM ON F N M A GTD REMIC 3.560% 9/25/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (91.05) - - 12/26/2018 12/25/2018 12/26/2018 3136B1XP4 PAID DOWN PAR VALUE OF F N M A GTD REMIC 3.560% 9/25/21 -4,037.0600 0.000000 - - - 4,037.06 (4,101.93) (64.87) - 12/26/2018 3136B1XP4 INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 189800.5000 SHARES DUE 12/25/2018 PEN PAYMENT 0.0000 0.000000 - - - 5.74 - - - 12/26/2018 3137BNN26 INTEREST EARNED ON F H L M C MLTCL MTG 1.780% 7/25/19 $1 PV ON 41.7700 SHARES DUE 12/25/2018 $0.00148/PV ON 28,158.19 PV DUE 12/25/18 0.0000 0.000000 - - - 41.77 - - - 12/26/2018 3137BNN26 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (7.12) - - 12/26/2018 12/25/2018 12/26/2018 3137BNN26 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.780% 7/25/19 -57.3000 0.000000 - - - 57.30 (57.40) - (0.10) 12/26/2018 3137BPCF4 INTEREST EARNED ON F H L M C MLTCL MTG 1.376% 10/25/20 $1 PV ON 35.0700 SHARES DUE 12/25/2018 $0.00115/PV ON 30,586.73 PV DUE 12/25/18 0.0000 0.000000 - - - 35.07 - - - 12/26/2018 12/25/2018 12/26/2018 3137BPCF4 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.376% 10/25/20 CMO FINAL PAYDOWN -30,586.7300 2.817620 - - - 30,586.73 (30,586.48) - 0.25 12/26/2018 3137FGZN8 INTEREST EARNED ON F H L M C MLTCL 2.50688% 2/25/23 $1 PV ON 430.6700 SHARES DUE 12/25/2018 $0.00209/PV ON 206,154.28 PV DUE 12/25/18 0.0000 0.000000 - - - 430.67 - - - 12/26/2018 12/25/2018 12/26/2018 3137FGZN8 PAID DOWN PAR VALUE OF F H L M C MLTCL 2.50688% 2/25/23 -14,141.3000 0.000000 - - - 14,141.30 (14,141.30) - - 12/26/2018 3137FJXN4 INTEREST EARNED ON F H L M C MLTCL 2.55688% 2/25/23 $1 PV ON 200000.0000 SHARES DUE 12/25/2018 0.0000 0.000000 - - - 426.15 - - - 12/26/2018 3137FJYA1 INTEREST EARNED ON F H L M C MLTCL MTG 3.454% 5/25/23 $1 PV ON 1093.7700 SHARES DUE 12/25/2018 $0.00288/PV ON 380,000.00 PV DUE 12/25/18 0.0000 0.000000 - - - 1,093.77 - - - 12/26/2018 12/25/2018 12/26/2018 3137FJYA1 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 3.454% 5/25/23 -898.2100 0.000000 - - - 898.21 (898.19) 0.02 - 12/26/2018 12/26/2018 12/26/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 41,545.1900 1.000000 - - - (41,545.19) 41,545.19 - - 12/26/2018 12/26/2018 12/26/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 35,618.7500 1.000000 - - - (35,618.75) 35,618.75 - - 12/28/2018 3136G4SW4 INTEREST EARNED ON F N M A M T N 2.900% 6/28/21 $1 PV ON 260000.0000 SHARES DUE 12/28/2018 0.0000 0.000000 - - - 3,770.00 - - - 12/28/2018 12/28/2018 12/28/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 3,770.0000 1.000000 - - - (3,770.00) 3,770.00 - - 12/31/2018 053015AD5 AMORTIZED PREMIUM ON AUTOMATIC DATA 2.250% 9/15/20 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (609.55) - - 12/31/2018 06406FAA1 AMORTIZED PREMIUM ON BANK OF NY MTN 2.500% 4/15/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (615.87) - - 12/31/2018 06406HBM0 AMORTIZED PREMIUM ON BANK NY MELLON MTN 5.450% 5/15/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (1,113.84) - - 12/31/2018 13063BFS6 AMORTIZED PREMIUM ON CALIFORNIA ST BUILD 6.650% 3/01/22 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (5,215.09) - - 12/31/2018 13063DAB4 AMORTIZED PREMIUM ON CALIFORNIA ST HIGH 1.593% 4/01/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (6.47) - - 12/31/2018 13063DGA0 AMORTIZED PREMIUM ON CALIFORNIA ST 2.800% 4/01/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (11.58) - - 12/31/2018 13077CT38 AMORTIZED PREMIUM ON CALIFORNIA ST 1.982% 11/01/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (37.78) - - 12/31/2018 161571HC1 AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (0.90) - - 12/31/2018 166764AN0 AMORTIZED PREMIUM ON CHEVRON CORP 2.193% 11/15/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (249.44) - - 12/31/2018 166764AU4 AMORTIZED PREMIUM ON CHEVRON CORP 2.81992% 3/03/22 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (99.64) - - 12/31/2018 17275RAE2 AMORTIZED PREMIUM ON CISCO SYSTEMS INC 4.950% 2/15/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (4,486.32) - - 12/31/2018 3134GBTL6 INTEREST EARNED ON F H L M C M T N 2.100% 6/29/22 $1 PV ON 500000.0000 SHARES DUE 12/29/2018 0.0000 0.000000 - - - 5,250.00 - - - 12/31/2018 3136B1XP4 AMORTIZED PREMIUM ON F N M A GTD REMIC 3.560% 9/25/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (20.79) - - 12/31/2018 3137BNN26 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (1.66) - - 49 Page 34 of 34 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2018 12/31/2018 12/31/2018 12/31/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -474,543.7500 1.000000 - - - 474,543.75 (474,543.75) - - 12/31/2018 45750TAG8 AMORTIZED PREMIUM ON INLAND VLY CA DEV 3.627% 3/01/20 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (501.97) - - 12/31/2018 48125LRJ3 AMORTIZED PREMIUM ON JP MORGAN MTN 2.92506% 9/23/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (91.88) - - 12/31/2018 649791EJ5 AMORTIZED PREMIUM ON NEW YORK ST REF SER 3.600% 9/01/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (3,233.38) - - 12/31/2018 649791EV8 AMORTIZED PREMIUM ON NEW YORK ST SER B 3.600% 2/15/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (1,810.99) - - 12/31/2018 76116FAE7 ACCREDITED DISCOUNT ON RESOLUTION FD CORP STRIP 10/15/20 CURRENT YEAR TAXABLE OID 0.0000 0.000000 - - - - 2,163.63 - - 12/31/2018 857477AS2 AMORTIZED PREMIUM ON STATE STREET CORP 2.550% 8/18/20 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (1,130.15) - - 12/31/2018 882723UC1 AMORTIZED PREMIUM ON TEXAS ST REF WTR 2.036% 8/01/20 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (238.69) - - 12/31/2018 91159HHQ6 AMORTIZED PREMIUM ON US BANCORP MTN 3.12738% 1/24/22 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (219.13) - - 12/31/2018 9128284W7 AMORTIZED PREMIUM ON U S TREASURY NT 2.750% 8/15/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (419.25) - - 12/31/2018 9128285G1 AMORTIZED PREMIUM ON U S TREASURY NT 2.875% 10/31/20 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (40.28) - - 12/31/2018 9128285L0 AMORTIZED PREMIUM ON U S TREASURY NT 2.875% 11/15/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (42.10) - - 12/31/2018 12/28/2018 12/31/2018 9128285S5 PURCHASED PAR VALUE OF U S TREASURY NT 2.500% 12/31/20 /MLPFS INC/FIXED INCOME/480,000 PAR VALUE AT 99.95703125 %480,000.0000 0.999570 - - - (479,793.75) 479,793.75 - - 12/31/2018 91412HDJ9 AMORTIZED PREMIUM ON UNIV OF CA 3.283% 5/15/22 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (12.21) - - Total - - - 0.00 182,536.36 (38,185.62) (9,484.49) 50 SHORT DURATION FIXED INCOME January 28, 2019 Riverside County Transportation Commission Logan Circle Partners, L.P. n MetLife Investment Management One MetLife Way n Whippany, NJ 07981 ATTACHMENT 16 51 2 GLOBAL PRESENCE ➢Logan Circle Partners,L.P.(“Logan Circle”or “LCP”)is a MetLife,Inc.company and is part of MetLife Investment Management (“MIM”),MetLife Inc.’s Institutional Investment Management Business. ➢MetLife has 49,000 employees worldwide with offices in more than 40 countries. Whippany Santiago London Hong Kong Philadelphia Additional Investment OfficesRegional Investment Offices 52 3 LCP Employees LCP Clients 1 Based on unaudited estimates and are subject to change.Fee paying assets under management as of 12/31/18. Assets by Client Type1 (Millions as of 12/31/2018) Corporate $16,196 Sub-Advisory $14,687 Public $3,945 Health Care $1,163 Insurance $822 Non-Profit $150 Taft-Hartley $711 Other $964 TOTAL:$38,637 FIRM HIGHLIGHTS 121 Employees (as of 12/31/2018) Portfolio Management 10 Research 47 Trading 25 Risk Management / Portfolio Analytics 2 Client Services 16 Legal / Compliance 5 Administration / Operations 16 ➢Logan Circle Partners,L.P.(“Logan Circle”or “LCP”)is a MetLife,Inc.company and is part of MetLife Investment Management,MetLife Inc.’s Institutional Investment Management Business. ➢We are dedicated solely to the institutional marketplace and have $38.6 billion1 in total assets under management. ➢The senior members of our Investment team have worked together on fixed income portfolios for 20 years. ➢Suite of fixed income investment strategies includes broad coverage of both the risk spectrum (Enhanced Cash to High Yield)and the term structure (Short- Term to Long Duration). Business Structure MetLife Insurance Investment Management (MIM) Logan Circle Partners 53 4 FIXED INCOME TEAM 54 5 CREDIT RESEARCH TEAM 55 6 ➢GDP -Global growth diverges with the U.S.economy’s momentum continuing to be driven by the strong labor market and stimulative fiscal policy.Although the pace of domestic growth is expected to move lower over the next year from 2018 levels, consumer spending,aided by increases in business and government components will keep real GDP growth above its post-crisis average.Expectations for a slower 2H19 reflect the diminishing impact of fiscal stimulus along with uncertainties over trade- related issues,political brinksmanship and a slowdown in the housing market.Despite the expected slowdown in growth,the probability of the economy slipping into a recession in 2019 remains remote. ➢Business -Readings from confidence measures like the NFIB Small Business Optimism Index and CEO Confidence Index,both slightly below recent record highs,signal the business cycle is likely to extend further.Corporate fundamentals continue to benefit from an economic backdrop with solid revenue growth,expanded operating margins and higher pre-tax earnings.General weakness in other developed economies as well as ongoing trade-related uncertainties,support our preference for U.S.-centric issuers such as banks,insurance and other financials.Late-cycle corporate behavior is evident in select non-financial subsectors as companies ramp up M&A activity,share buybacks and dividend payouts.Production bottlenecks and supply chain disruptions coupled with selected labor shortages could pressure operating margins in coming quarters. ➢Consumer -Strength of consumer spending,especially on services,will be sustained by increased wages and low unemployment.Even as interest rates have moved higher,consumer confidence,while off of peak readings,remains near historically high levels.U.S.real median household income has reached a record level.Debt service and financial obligations ratios indicate that the consumer has delevered,supporting our premise that consumer spending will remain at levels sufficient to sustain economic growth at an above-trend pace.The recent decline in oil prices bodes well for discretionary spending as evidenced by strong holiday season retail sales. ➢Employment -The unemployment rate is expected to remain low barring a substantial upward move in the labor force participation rate.The U.S.labor market remains historically tight by most indicators.The number of job openings continues to exceed the amount of job seekers,which has translated into higher wages given the shallow pool of qualified job applicants.The seasonally-adjusted U.S.Quits Rate has reached 17-year highs,further evidence of employee confidence.The Employment Cost Index,which includes wages and employer-paid benefits,has risen as has average hourly earnings,both of which are at the highest levels in nearly a decade. ➢Central Banks /International -While the ECB halted its QE program in December and committed to hold off on reducing its balance sheet through year-end 2020,Europe’s weakened pace of economic growth and low inflation call into question the aggressiveness of the ECB’s future monetary policy actions.Little progress on the Brexit front has been made to date,which may continue to be a source of market uncertainty and currency volatility.Although signs point to a continued gradual slowdown in the Chinese economy,the impact will be more directly felt by commodity-sensitive economies.China is expected to ultimately agree to more cosmetic trade-related concessions,which will not significantly impact the U.S.economy but will certainly improve market sentiment. ➢Residential /Commercial Real Estate -The pace of home price appreciation continues to moderate as mortgage rates and tax law changes create headwinds.Slowing home sales metrics confirm the broader trend although less expensive properties continue to outperform higher priced properties.With affordability declining,buying appears increasingly less appealing compared to renting,especially for first-time home buyers and lower income households.Multifamily properties will benefit as rental vacancy rates remain low.Led by the strength in multifamily,commercial property prices remain stable but with prices currently at record levels,further appreciation should be modest.Lower quality mall properties continue to struggle given the challenges faced by the retail sector while heavy recent supply pushes office vacancies higher in some geographic areas. ➢U.S.Monetary &Fiscal Policy -Markets are currently discounting the Federal Reserve’s projected policy moves despite the underlying strength of the economy.Fed members have reasserted their focus on data dependence in an effort to shift market reliance away from forward guidance.Based in part on their lowered expectations for growth and inflation,the Fed reduced their estimate of the long-term neutral policy rate to 2.75%.Higher fiscal spending and deficits,while stimulative to economic activity, also result in elevated Treasury net issuance,making the upcoming expiration of the debt ceiling waiver in March more consequential.The Federal Reserve continues to shrink its balance sheet,resulting in lower bank reserves in furtherance of their tightening agenda. ➢Inflation -Recent softness in headline inflation stems primarily from weakness in oil prices.Core CPI remains above the Federal Reserve’s 2%target and is unlikely to decline given the strength in wages.The recent downtick in Core PCE was due to lower readings in healthcare services,the largest index component.This trend is unlikely to be sustained.University of Michigan one- year consumer inflation expectations have eased slightly from the highs made in third-quarter 2018. The views presented above are Logan Circle's and are subject to change over time.There can be no assurance that the views expressed above will prove accurate and should not be relied upon as a reliable indicator of future events. OUTLOOK AND CURRENT THEMES 56 7 PORTFOLIO REVIEW –2017 Toll Revenue I-15 Project Fund 1Past performance is not indicative of future results.The Since Inception performance returns of the portfolio is as of the first full month following the funding date.The performance benchmark shown for the Riverside County I-15 Express Lanes 2017 Toll Revenue Project Portfolio is the ICE BofAML 0-2 Year U.S.Treasury Index,which is a broad-based index consisting of U.S.Treasury securities with an outstanding par greater than or equal to $1 billion and a maturity range from zero to two years,reflecting total return. Portfolio Performance1 4Q 2018 YTD Since Inception (8/1/2017) 2017 Toll Revenue I-15 Project Fund (Gross of Fees)0.61%1.92%1.66% 2017 Toll Revenue I-15 Project Fund (Net of Fees)0.58%1.83%1.57% ICE BofAML U.S. Treasury Index 0-2 Year 0.83%1.79%1.36% FTSE 6-Month Treasury Bill 0.58%1.91%1.68% Asset AllocationPortfolio Characteristics As of December 31, 2018 Actual Portfolio Yield to Maturity 2.82% Duration 0.33 Years Average Quality (Moody’s)Aa3 Portfolio Market Value $76,231,006 As of September 30, 2018 Actual Portfolio Yield to Maturity 2.42% Duration 0.45 Years Average Quality (Moody’s)Aa3 Portfolio Market Value $75,772,308 Corporate 35% Municipal 6% Agency 2% CMBS 4% ABS 13%Treasury 15% CP 22% CD 3% Corporate 36% Municipal 5% Agency 2% CMBS 1% ABS 10%Treasury 19% CP 24% 57 8 PORTFOLIO REVIEW –2013 SR-91 Project Residual 1Past performance is not indicative of future results.Inception date 1/4/18.Performance returns are calculated as of the first full month following the funding date.The performance benchmark shown for theRiversideCounty2013ResidualFundPortfolioistheICEBofAML1-3 Year U.S.Treasury Index,which is a broad-based index consisting of U.S.Treasury securities with an outstanding par greater than or equal to $1 billion and a maturity range from one to three years,reflecting total return. Asset AllocationPortfolio Characteristics Portfolio Performance1 4Q 2018 Since Inception (2/1/2018) Riverside County 2013 SR-91 Project Residual Fund (Gross of Fees)0.82%1.86% Riverside County 2013 SR-91 Project Residual Fund (Net of Fees)0.79%1.77% ICE BofAML U.S. Treasury Index 1-3 Year 1.29%1.88% ICE BofAML U.S. Treasury Index 0-2 Year 0.83%1.80% As of December 31, 2018 Actual Portfolio Yield to Maturity 2.86% Duration 1.10 Years Average Quality (Moody’s)Aa2 Portfolio Market Value $13,878,556 Corporate 43% Municipal 3% Agency 2%RMBS 3% CMBS 4% ABS 12% Treasury 33% As of September 30, 2018 Actual Portfolio Yield to Maturity 2.81% Duration 1.37 Years Average Quality (Moody’s)Aa2 Portfolio Market Value $6,616,646 Corporate 38% Municipal 1% Agency 3% RMBS 3% CMBS 5% ABS 8% Treasury 33% CP 9% 58 9 PORTFOLIO REVIEW –2017 Toll Revenue I-15 Ramp Up Reserve 1Past performance is not indicative of future results.Inception date 12/5/17.Performance returns are calculated as of the first full month following the funding date.The performance benchmark shown fortheRiversideCountyI-15 Express Lanes Toll Revenue Reserve Portfolio is the ICE BofAML 1-3 Year U.S.Treasury Index,which is a broad-based index consisting of U.S.Treasury securities with an outstanding par greater than or equal to $1 billion and a maturity range from one to three years,reflecting total return. Asset AllocationPortfolio Characteristics As of December 31, 2018 Actual Portfolio Yield to Maturity 2.63% Duration 1.30 Years Average Quality (Moody’s)Aaa Portfolio Market Value $8,068,645 Portfolio Performance1 4Q 2018 Since Inception (1/1/2018) 2017 Toll Revenue I-15 Ramp Up Reserve (Gross of Fees)0.91%2.17% 2017 Toll Revenue I-15 Ramp Up Reserve (Net of Fees)0.89%2.07% ICE BofAML U.S. Treasury Index 1-3 Year 1.29%1.58% ICE BofAML U.S. Treasury Index 0-2 Year 0.83%1.79% As of September 30, 2018 Actual Portfolio Yield to Maturity 2.73% Duration 1.41 Years Average Quality (Moody’s)Aaa Portfolio Market Value $7,995,779 Agency 6% RMBS 32% CMBS 25% Treasury 37% Agency 9% RMBS 30% CMBS 14% Treasury 47% 59 10 PORTFOLIO REVIEW –Debt Reserve Fund Portfolio Performance1 4Q 2018 YTD Since Inception (8/1/2013) Total Debt Service Fund (Gross of Fees)1.82%1.15%1.96% Total Debt Service Fund (Net of Fees)1.80%1.05%1.86% ICE BofAML U.S. Treasury Index 3-7 Year 2.66%1.47%1.61% 1Past performance is not indicative of future results.Performance returns for periods greater than one year are annualized.The performance benchmark shown for the Riverside County Debt Reserve Fund is the ICE BofAML US Treasury 3-7 Year,which is a broad-based index consisting of U.S.Treasury securities with an outstanding par greater or equal to $1 billion and a maturity range from three to seven years,inclusive,reflecting total return. Asset AllocationPortfolio Characteristics As of December 31, 2018 Actual Portfolio Yield to Maturity 2.80% Duration 3.17 Years Average Quality (Moody’s)Aaa Portfolio Market Value $18,167,370 Agency 14%RMBS 9% CMBS 34% Treasury 43% As of September 30, 2018 Actual Portfolio Yield to Maturity 3.14% Duration 3.39 Years Average Quality (Moody’s)Aaa Portfolio Market Value $17,842,317 Agency 14%RMBS 11% CMBS 33% Treasury 42% 60 11 RCTC PORTFOLIOS Portfolio Beginning Market Value (7/24/2017) Net Flows Market Value (12/31/2018) Change in Market Value 2017 Toll Revenue I-15 Project Fund $98,562,718 ($24,314,075)$76,231,006 +$1,982,363 Beginning Market Value (12/5/2017) 2017 Toll Revenue I-15 Ramp Up Reserve $7,723,487 $166,500 $8,068,645 +$178,658 Total Project $106,286,205 ($24,147,575)$84,299,651 +$2,161,021 2017 I-15 Project Portfolio Beginning Market Value (1/16/2018) Net Flows Market Value (12/31/2018) Change in Market Value 2013 SR-91 Project Residual Fund $3,292,782 $10,422,641 $13,878,556 +$163,133 2013 SR 91 Reserve and Residual Funds Portfolio Beginning Market Value (7/3/2013) Net Flows Market Value (12/31/2018) Change in Market Value Debt Service Reserve Fund $17,667,869 ($1,274,770)$18,167,370 +$1,774,271 61 12 DISCLAIMERS In general.This disclaimer applies to this document and the verbal or written comments of any person presenting it.This document,taken together with any such verbal or written comments,is referred to herein as the “Presentation.”Logan Circle Partners,L.P.,a MetLife,Inc.company,is referred to herein as “Logan Circle”and is part of MetLife,Inc.’s institutional investment management business. No offer to purchase or sell securities.This Presentation is being provided to you,at your specific request.This Presentation does not constitute an offer to sell or a solicitation of an offer to buy any security and may not be relied upon in connection with the purchase or sale of any security. Projections.Projections contained in this Presentation are based on a variety of estimates and assumptions by Logan Circle, including,among others,estimates of future operating results,the value of assets and market conditions at the time of disposition,and the timing and manner of disposition or other realization events.These estimates and assumptions are inherently uncertain and are subject to numerous business,industry,market,regulatory,competitive and financial risks that are outside of Logan Circle’s control.There can be no assurance that the assumptions made in connection with the projections will prove accurate,and actual results may differ materially,including the possibility that an investor may lose some or all of its invested capital.The inclusion of the projections herein should not be regarded as an indication that Logan Circle or any of its affiliates considers the projections to be a reliable prediction of future events and the projections should not be relied upon as such.Neither Logan Circle nor any of its affiliates or representatives has made or makes any representation to any person regarding the projections and none of them intends to update or otherwise revise the projections to reflect circumstances existing after the date when made or to reflect the occurrence of future events,if any or all of the assumptions underlying the projections are later shown to be in error.For purposes of this paragraph,the term “projections”includes “targeted returns”. Past performance.Past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision.The information presented is only available for institutional client use. 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Confidentiality.By accepting receipt or reading any portion of this Presentation,you agree that you will treat the Presentation confidentially.This reminder should not be read to limit,in any way,the terms of any confidentiality agreement you or your organization may have in place with Logan Circle. L0119511604[exp0619][All States] 62 QUARTERLY PORTFOLIO REVIEWQUARTERLY PORTFOLIO REVIEW PAYDEN.COM LOS ANGELES | BOSTON | LONDON | MILAN 4th Quarter 2018 ATTACHMENT 17 63 January 2019 Last year marked the 35th year since the founding of Payden & Rygel. During this time financial markets have experienced wide fluctuations reflecting economic, political and financial changes. But, we have all survived. I’d like first to take a minute and focus on the things we think are most important to our success: our culture, governance structure and client focus. None of these key ingredients have changed during our history. These elements are vitally important to the stability and protection of client funds and investment results. Second, the global financial markets were volatile this past year, and it is very difficult to identify trends in such an environment. Back to basics then. The U.S. economy remains healthy. We are finishing a year where the consumer has enjoyed real wage growth, near-full employment and balance sheets that are in the best shape since 2008. However, the global picture is murky. The UK and Europe are contending with Brexit as the March 2019 deadline for an agreement looms. Another big question is whether China’s economy faces a more significant slowdown. Risks remain, but we’re optimistic the global economy can withstand the varied headwinds and grow in the year ahead. Turning back to basics. As far as our clients are concerned, we continue to provide a wide array of global, customized solutions with an emphasis on fixed income markets. Over the past five years, our assets have grown by almost 40%, to $112 billion. My very best wishes to you and your family for health and happiness in 2019. Warm regards, Joan A. Payden President & CEO LETTER FROM THE CEO 64 Riverside County Transportation Commission 2812 Portfolio Review and Market Update - 4th Quarter 2018 PORTFOLIO CHARACTERISTICS (As of 12/31/2018) $52.0 millionPortfolio Market Value AA+Weighted Average Credit Quality 1.57 yearsWeighted Average Duration 2.72%Weighted Average Yield to Maturity DURATION DISTRIBUTION 0% 10% 20% 30% 40% 50% 0 - 1 1 - 2 2 - 3 3+ Years SECTOR ALLOCATION 0% 5% 10% 15% 20% 25% 30% 35% 40% 45%TreasuriesCreditRevenueAgenciesAsset-BackedGOMortgage-BackedPORTFOLIO RETURNS - Periods Ending 12/31/2018 2018 Since Inception (3/1/15) 4th Quarter RCTC Operating Portfolio 1.08% 1.82% 1.03% ICE BofAML 1-3 Year US Treasury Index 1.29% 1.58% 0.82% Periods over one year are annualized Payden & Rygel • 333 South Grand Avenue • Los Angeles, California 90071 • (213) 625-1900 • www.payden.com65 Portfolio Review and Market Update - 4th Quarter 2018 2812 MARKET THEMES The fourth quarter saw an increase in market volatility as investors reduced risk and looked to safe-haven assets. The FOMC raised its targeted range for the Fed Funds rate to 2.25% - 2.50% in December, the fourth interest rate hike of 2018, and forecast two more 0.25% increases in 2019. While prospects for U.S. growth remained strong, the Fed’s message of future interest rate hikes and the balance sheet unwind in the face of volatile markets exacerbated market fluctuations. Geopolitical risks remain as uncertainty over the U.S./China relationship, concerns surrounding emerging markets, populism in Europe and Brexit drove a negative tone across broad risk assets. Treasury yields declined, credit risk premiums increased, and equity prices fell by over 10%. Despite elevated market volatility, the front end of the yield curve was able to provide positive total returns. STRATEGY The portfolio continued to hold a diversified mix of non-government sectors to increase income.n We slightly decreased our duration underweight in early December to capture price returns as yields moved lower. Nonetheless, our overall duration underweight and position along the curve contributed to the portfolio's underperformance vs. the benchmark this quarter. n We maintained a bias towards a shorter average maturity profile of non-Treasury sectors to limit the portfolio sensitivity to changes in credit risk premiums. n INTEREST RATES Short U.S. Treasury yields fell with the two-year maturity falling by 0.33% to 2.49%. The slope between two- and five-year maturities continued its flattening trend, falling 11 basis points to end the quarter at 0.02% after spending most of December inverted with the differential as low as -0.04%. n While our short duration position detracted from performance, our duration extension in December was beneficial to the portfolio as Treasury yields fell. n One-month LIBOR rose 0.24% to 2.50% and three-month LIBOR rose 0.41% to 2.81%.n SECTORS Corporate securities underperformed Treasuries during the quarter, as spreads moved wider offsetting their yield advantage. However, our reduction in spread duration during the year was beneficial. n High-quality asset-backed securities outperformed corporate credit but underperformed Treasuries as securitized spreads also widened. n Payden & Rygel • 333 South Grand Avenue • Los Angeles, California 90071 • (213) 625-1900 • www.payden.com66 MARKET PERSPECTIVE The year 2018 may turn out to be one most investors would soon like to forget. In fact, according to data collected by Deutsche Bank that looks at equity, bond, credit and commodities indices in 30 countries since 1900, last year featured the largest proportion of indices on record ending the year with a negative total return (see Figure 1). However, this paints too pessimistic a picture for the past three years. First, while 2018 saw many indices in the red, 2017—just one year prior—saw the fewest indices post negative returns on record! That’s right, 2017 was a banner year—no surprise then that many asset classes struggled in 2018. Second, not every asset class posted a negative return. For example, holding U.S. Treasuries and tax-exempt municipal bonds yielded positive total returns in 2018, and even the U.S. Agg eked out one basis point (see Figure 2). Further, even though the U.S. equity market had a down year, newspa- per headlines (e.g., “Worst Year For Stocks In A Decade”) overstate the magnitude of the decline. At -4.4% the annual total return on the S&P 500 is well within normal historical ranges and pales in comparison to the almost -37% total return in 2008. Third, we believe that while market prices moved significantly as 2018 drew to a close, the U.S. econ- omy remains on solid footing for another year of economic growth. The global economy has slowed, but we still expect global economic activity to re- main modestly positive in 2019. Economic cycles do not die of old age and while we do expect vola- tility to continue around the world, we do not ex- pect a U.S. or global recession in 2019. For asset class returns, perhaps it’s best not to ex- pect a repeat of 2018. Figure 2 : 2018 Index Total Returns Source: Bloomberg, JP Morgan, Bloomberg Barclays, Payden Calculations Figure 1 : Proportion of Indices With Negative Total Returns, Since 1901 Source: Deutsche Bank 0% 20% 40% 60% 80% 100% 1901 1910 1919 1928 1937 1946 1955 1964 1973 1982 1991 2000 2009 2018Percent of All Indices-15% -10% -5% 0% 5% -14.49%MSCI EM -8.20%MSCI World -4.39%S&P 500 -4.26%Emerging Markets Bond -2.51% U.S. Inv Grade Corps -2.08%U.S. High Yield Corps -1.37%U.S. Taxable Muni -1.20%Global Aggregate 0.01%U.S. Aggregate 0.80%U.S. Treasury 1.28%U.S. Tax-Exempt Munis 2.08%3-Month LIBOR Total Return 67 LOS ANGELES 333 South Grand Avenue Los Angeles, California 90071 213 625-1900 BOSTON 265 Franklin Street Boston, Massachusetts 02110 617 807-1990 LONDON 1 Bartholmew Lane London EC2N 2AX United Kingdom + 44 (0) 20-7621-3000 MILAN Corso Matteotti, 1 20121 Milan, Italy +39 02 76067111 PAYDEN.COM U.S DOMICILED MUTUAL FUNDS DUBLIN DOMICILED UCITS FUNDS CASH BALANCE Payden/Kravitz Cash Balance Plan Fund EQUITY Equity Income Fund GLOBAL FIXED INCOME Emerging Markets Bond Fund Emerging Markets Corporate Bond Fund Emerging Markets Local Bond Fund Global Fixed Income Fund Global Low Duration Fund TAX-EXEMPT FIXED INCOME California Municipal Income Fund U.S. FIXED INCOME Absolute Return Bond Fund Cash Reserves Money Market Fund Core Bond Fund Corporate Bond Fund Floating Rate Fund GNMA Fund High Income Fund Limited Maturity Fund Low Duration Fund Strategic Income Fund U.S. Government Fund EQUITY Global Equity Income Fund US Equity Income Fund LIQUIDITY FUNDS Euro Liquidity Fund Sterling Reserve Fund U.S. Dollar Liquidity Fund FIXED INCOME Absolute Return Bond Fund Global Bond Fund Global Emerging Markets Bond Fund Global Emerging Markets Corporate Bond Fund Global Government Bond Index Fund Global High Yield Bond Fund Global Inflation-Linked Bond Fund Global Short Bond Fund Sterling Corporate Bond Fund U.S. Core Bond Fund USD Low Duration Credit Fund For more information about Payden & Rygel’s funds, contact us at a location listed below. 68 County of Riverside Treasurer’s Pooled Investment Fund December 2018 ATTACHMENT 18 69 Contents COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 1 2| Treasurer’s Pooled Investment Fund 3| Economy 4| Market Data 6| Portfolio Data 8| Compliance Report 9| Month End Holdings Hot air balloons over Lake Skinner in Temecula, Southwest Riverside County, CA. Digital Image. NBC San Diego. http://www.nbcsandiego.com/news/local/temecula-valley-2014-balloon-wine-festival-north-san-diego-261142951.html 70 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 2 The Treasurer’s Pooled Investment Fund is comprised of contributions from the county, schools, special districts, and other discretionary depositors throughout the County of Riverside. The primary objective of the treasurer shall be to safeguard the principal of the funds under the treasurer's control, meet the liquidity needs of the depositor, and to maximize a return on the funds within the given parameters. The Treasurer-Tax Collector and the Capital Markets team are committed to maintaining the highest credit ratings. The Treasurer’s Pooled Investment Fund is currently rated Aaa-bf by Moody’s Investor Service and AAAf/S1 by Fitch Ratings, two of the nation’s most trusted bond credit rating services. Since its inception, the Treasurer’s Pooled Investment Fund has been in full compliance with the Treasurer’s Statement of Investment Policy, which is more restrictive than California Government Code 53646. Treasurer’s Statement Capital Markets Team Jon Christensen Treasurer-Tax Collector Giovane Pizano Chief Investment Manager Steve Faeth Sr. Investment Manager Isela Licea Assistant Investment Manager Jake Nieto Administrative Services Assistant Treasurer’s Pooled Investment Fund 6-Month Pool Performance Gridlock in the U.S. Federal Government, trade uncertainty, and fears of a global eco- nomic slowdown fueled a 2,400+ point drop in the Dow Jones Industrial Average stock index, marking an uncharacteristically vola- tile December for equity markets. Neverthe- less, the U.S. economy continued its expan- sion in December. The U.S. Federal Reserve Bank (FED) cited a solid economic backdrop when it raised rates by 25 basis points (bps) on December 19. Real GDP for 3Q18 was revised slightly downward from a seasonally adjusted annu- alized rate of 3.50% to a still strong 3.40%, consumer spending and job growth continue to expand strongly, the unemployment rate persists at 3.70%, and the housing sector con- tinues to decelerate. The inflation rate for all goods and services has fallen in line with the core inflation rate (i.e. all goods and services minus food and energy) at 2.20%, which is broadly attributed to the recent plunge in global oil prices (see page 5). In a strong economic environment, feder- al and corporate debt remain elevated. Federal debt as a percent of GDP crossed the 100% threshold for the first time in 3Q12, and sits at 104% as of 3Q18. Additionally, corporate debt-to-GDP persists above long- term trends. However, consumer debt-to- GDP remains firmly below long-term trends (Federal Reserve). The gridlock in Washington over the feder- al budget pushed the government into a shutdown on December 22, increasing fear over the debt ceiling deadline in March. Fears of a repeat of the 2011 debt-ceiling crisis resurface, when S&P downgraded the U.S. Federal Government’s credit rating from AAA to AA+. No one knows for sure what will happen. The U.S. has never gone into default before, but the elevated uncertainty may contribute to a flight to quality in the fixed income markets. Uncertainty in global trade persists. The U.K. and E.U. have yet to finalize an agree- ment regarding Brexit, and there is no telling if the matter will be resolved in a timely man- ner. At the G20 summit on December 1 in Argentina, the U.S. agreed to halt any esca- lation of tariffs until March 2. If no agreement is made by that date, then standing tariffs on $200bn of Chinese goods may be raised from 10% to 25%. A resolution on either deal would be beneficial for global trade and, thus, for U.S. economic growth. In our local economy, Riverside County’s population rose by more than 27,000 people in 2018, making it number one in the state for population growth (Press Enterprise). Growth in nonfarm jobs and the median sales price for single-family homes respectively indicate that the local job market and real estate sector are moderating in growth – mimicking trends statewide. With December’s 2,400+ point drop in the Dow Jones Industrial Average stock index, the Treasury bond market saw a very strong flight-to-quality rally. 2-year yields were driv- en down from 2.83% to 2.48%, while 5-year yields were driven down from 2.83% to 2.51%. To put this into perspective, for every $100 million invested, a drop of 35 bps in interest would reduce interest income by $29,166 per month for new investments made at the lower rate. After raising rates by 25 bps in December, the Federal Reserve lowered expectations for the number of interest rate hikes in 2019, versus an earlier expectation of at least two more 25 basis point hikes during the year. The Treasurer’s Pooled Investment Fund is well positioned to handle anticipated changes in markets, and especially to maintain its com- mitment to safety, liquidity, and yield. Jon Christensen Treasurer-Tax Collector Monthly Commentary Government(s) Showdown, Stocks Go Down Month End Market Value ($)* Month End Book Value ($) Paper Gain or Loss ($) Paper Gain or Loss (%) Book Yield (%) WAM (Yrs) 18-Dec 7,490,825,981.43 7,504,164,940.07 (13,338,958.64) -0.17% 2.27 1.00 18-Nov 6,126,655,569.85 6,157,254,222.68 (30,598,652.83) -0.50% 2.18 1.16 18-Oct 5,810,376,697.47 5,848,258,037.08 (38,077,575.20) -0.66% 2.09 1.16 18-Sep 6,010,617,673.04 6,046,972,952.10 (36,355,279.06) -0.60% 2.01 1.16 18-Aug 5,911,098,915.70 5,941,969,016.43 (30,870,100.73) -0.52% 1.96 1.20 18-Jul 5,978,974,759.31 6,015,426,250.42 (36,451,491.11) -0.61% 1.92 1.24 *Market values do not include accrued interest. 71 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 3 Key Economic Indicators While U.S. economic growth slows, consumer spending en- dures as key driver for the economy. [Bloomberg; 01/03/2019]  Nonfarm payrolls were weaker than expected in November, but annual growth remains steady. [FRED; 01/07/2019]  On faltering price of oil, the total inflation rate has fallen and real wages have received a boost. [Reuters; 01/07/2019]  The Federal deficit for 2018, at 4.6% of GDP, is “unprecedented in current economic conditions.” [CFRB; 01/07/2019] National Economy Economy California state government is expected to have a $29bn surplus in the 2019-2020 fiscal year. [Politifact; 01/07/2019]  The CA Legislative Analyst’s Office expects annual growth for nonfarm payrolls to decline to 1% by 2020. [LAO; 01/07/2019]  California added 214,625 residents in the year ended June 30, 2018. Riverside County added 27, 386 residents, leading all CA counties in population growth.[Press Enterprise; 12/28/2018].  Despite recent moderation, job growth in the Inland Empire exceeds state and national rates. [FRED; 01/07/2019] State Economy U.S. Total Public Debt as a Percent of GDP Nonfarm Payrolls U.S. Earnings and Inflation *Note: Shaded areas indicate U.S. recessions. Release Date Indicator Actual Consensus Difference 12/21/2018 Real GDP - Q/Q Change - SAAR - 3Q18 (3rd estimate) 3.40% 3.50% -0.10% 12/07/2018 Unemployment Rate - Seasonally Adjusted 3.70% 3.70% 0.00% 12/07/2018 Non-Farm Payrolls - M/M Change 155,000 190,000 -35,000 12/12/2018 CPI - Y/Y Change 2.20% 2.20% 0.00% 12/12/2018 CPI Ex Food and Energy - Y/Y Change 2.20% 2.20% 0.00% 12/06/2018 Non-Manufacturing Index (> 50 indicates growth) 60.7 59.0 1.70 12/19/2018 Existing Home Sales - SAAR - Millions of Units 5.32 5.19 0.13 12/06/2018 Factory Orders - M/M Change -2.10% -2.00% -0.10% 12/21/2018 Durable Goods Orders - New Orders - M/M Change 0.80% 1.40% -0.60% *Note: ‘IE’ refers to the Riverside -San Bernardino metropolitan area. 1.00% 1.50% 2.00% 2.50% 3.00% Real Personal Spending Real Disposable Personal Income U.S. Real Personal Spending and Real Personal Income - Y/Y SAAR 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 0 100 200 300 400 Thousands Nat'l Nonfarm Jobs - M/M (Left) Nat'l Nonfarm Jobs - Y/Y % (Right) CA Nonfarm Jobs - Y/Y % (Right) IE Nonfarm Jobs Added - Y/Y % (Right) 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00%Average Hourly Earnings Average Weekly Earnings CPI: Less Food and Energy CPI: All Items Jul-18, 104.2% 20.0% 40.0% 60.0% 80.0% 100.0% 72 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 4 U.S. Treasury Curve The US Treasury Curve and its forecasted values are subject to frequent change and will be updated monthly with each issued TPIF report. Market Data Fed Funds Target Rate (Upper Limit) FOMC Meeting 12/19/2018  The FOMC stated that data received since their last meeting in November “indicates that the labor market has contin- ued to strengthen and that economic activity has been rising at a strong rate.”  The Federal Open Market Committee raised the Fed Funds Target Rate to 2.25—2.50% from 2.00—2.25%.  “The Committee judges that risks to the economic outlook are roughly balanced, but will continue to monitor global economic and financial developments and assess their implications for the economic outlook,” stated the FOMC in their December 19 press release. 1.00% 1.50% 2.00% 2.50% 3.00% 1.50 2.00 2.50 3.00 3.50 0 5 10 15 20 25 30Yield (%)Years 12/03/2018 12/31/2018 Treasury Curve Differentials 3 Mo 6 Mo 1 Yr 2 Yr 3 Yr 5 Yr 10 Yr 30 Yr 12/31/2018 - 12/03/2018 0.07 0.00 -0.09 -0.35 -0.38 -0.32 -0.29 -0.25 12/31/2018 2.45 2.56 2.63 2.48 2.46 2.51 2.69 3.02 12/03/2018 2.38 2.56 2.72 2.83 2.84 2.83 2.98 3.27 73 * Values listed on this page are in US dollars and are based on the final business day of each month. COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 5 Market Data cont’d Commodities Stocks 50.00 55.00 60.00 65.00 70.00 75.00 80.00 85.00 90.00 95.00 70.00 90.00 110.00 130.00 150.00 170.00 190.00 210.00 Industrial Metals (left)Precious Metals (left) Iron Ore (right) 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 44.00 49.00 54.00 59.00 64.00 69.00 74.00 79.00 Nymex Crude (left)Nymex Nat Gas (right) Ethanol (right) 22,000.00 24,000.00 26,000.00 28,000.00 Dow Jones 2,400.00 2,600.00 2,800.00 3,000.00 6,000.00 6,500.00 7,000.00 7,500.00 8,000.00 NASDAQ 100 (Left) S&P 500 (right) 74 The County of Riverside’s Treasurer’s Pooled Investment Fund is currently rated AAA-bf by Moody’s Investor Service and AAAf/S1 by Fitch Ratings. Moody’s Asset Rating (000’s) S&P Asset Rating (000’s) COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 6 Portfolio Data Based on historic and current financial conditions within the County, the Pool is expected to maintain sufficient liquidity o f funds to cover County expenses for the next twelve months. * Values listed in Cash Flow Table are in millions of USD. Aaa 57% Aa1 10%Aa2 6% Aa3 10%A1 <1% NR 17% AAA 4%AA+ 57% AA 3% AA- 17% A+ 2% NR 17% 12-Month Projected Cash Flow Book MKT/Book % Book Yield Aaa 4,281,317.18 99.60% 57.05% 2.13% Aa1 716,741.29 100.13% 9.55% 2.52% Aa2 454,875.83 100.11% 6.06% 2.51% Aa3 776,106.14 100.32% 10.34% 2.53% A1 25,000.00 100.00% 0.33% 2.51% NR 1,250,124.50 100.00% 16.66% 2.36% Totals: 7,504,164.94 99.82% 100.00% 2.27% Book MKT/Book % Book Yield AAA 324,731.15 100.33% 4.33% 2.34% AA+ 4,283,056.65 99.60% 57.08% 2.13% AA 193,025.70 100.48% 2.57% 2.58% AA- 1,298,226.94 100.14% 17.30% 2.54% A+ 155,000.00 100.00% 2.07% 2.63% NR 1,250,124.50 100.00% 16.66% 2.36% Totals: 7,504,164.94 99.82% 100.00% 2.27% Month Monthly Receipts Monthly Disbursements Difference Required Matured Investments Balance Actual Investments Maturing Available to Invest > 1 Year 01/2019 96.35 01/2019 1,000.00 2,100.00 (1,100.00) 1,003.65 - 1,127.03 02/2019 850.00 1,050.00 (200.00) 200.00 - 458.14 03/2019 1,350.00 1,200.00 150.00 150.00 233.31 04/2019 2,000.00 1,300.00 700.00 850.00 16.10 05/2019 1,200.00 2,050.00 (850.00) - 274.46 06/2019 1,050.00 1,850.00 (800.00) 800.00 - 249.09 07/2019 969.28 1,250.00 (280.72) 280.72 - 216.58 08/2019 900.00 1,200.00 (300.00) 300.00 - 201.24 09/2019 1,100.00 1,200.00 (100.00) 100.00 - 101.73 10/2019 1,100.00 1,300.00 (200.00) 200.00 - 174.28 11/2019 1,300.00 1,200.00 100.00 100.00 55.00 12/2019 2,375.13 1,200.00 1,175.13 1,275.13 TOTALS 15,194.41 16,900.00 (1,705.59) 2,884.37 2,471.48 3,106.96 4,619.79 38.44%41.40%61.56% 75 Asset Maturity Distribution (Par Value, 000’s) Portfolio Data cont’d TIMMI The Treasurer’s Institutional Money Market Index (TIMMI) is a composite index of four AAA rated prime institutional money market funds. Their aggregate yield is compared to the yield of the Treasurer’s Pooled Investment Fund in the above graph. Asset Allocation (000’s) COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 7 24.35% 1,835,002.02 14.46% 1,089,450.00 25.84% 1,947,289.00 14.62% 1,101,914.00 13.88% 1,045,879.00 6.84% 515,078.00 - 500,000 1,000,000 1,500,000 2,000,000 0-1 Mos 1-3 Mos 3-12 Mos 1-2 Yr 2-3 Yr 3-5 Yr Assets Scheduled Book Scheduled Market Mkt/ Sch Book Yield WAL (Yr.) Mat (Yr.) TREAS 357,292.83 357,607.75 100.09% 2.33% 0.48 0.48 AGENCIES 3,572,643.50 3,552,868.20 99.45% 2.06% 1.61 1.77 MMKT 62,000.00 62,000.00 100.00% 2.22% 0.00 0.00 CASH 1,040,000.00 1,040,000.00 100.00% 2.38% 0.00 0.00 CALTRUST FND 24,000.00 24,000.00 100.00% 2.37% 0.00 0.00 COMM PAPER 1,122,349.41 1,127,319.54 100.44% 2.50% 0.19 0.19 NCDS 830,998.20 830,998.20 100.00% 2.59% 0.23 0.23 MEDIUM TERM NOTES 301,555.30 302,706.59 100.38% 2.58% 1.01 1.03 MUNI 193,205.70 193,205.70 100.00% 2.27% 1.73 1.73 LOCAL AGCY OBLIG 120.00 120.00 100.00% 2.76% 1.46 1.46 Totals: 7,504,164.94 7,490,825.98 99.82% 2.27% 0.93 1.01 * For details on the Pool’s composition see Month End Portfolio Holdings, pages 9 to 13. 1.32%1.39%1.47%1.53% 1.63%1.75%1.82% 1.88%1.92%1.96%2.01%2.09%2.18%2.27% 1.25%1.45%1.51%1.54% 1.80%1.88%1.93% 2.08%2.07%2.06%2.17% 2.27%2.33% 2.53% 1.00% 1.50% 2.00% 2.50% Pool Yield TIMMI 76 Compliance Status: Full Compliance The Treasurer’s Pooled Investment Fund was in full compliance with the County of Riverside’s Treasurer’s State- ment of Investment Policy. The County’s Statement of Investment Policy is more restrictive than California Gov- ernment Code 53646. The County’s Investment Policy is reviewed annually by the County of Riverside’s Over- sight Committee and approved by the Board of Supervisors. 1 Money Market Mutual Funds maturity may be interpreted as a weighted average maturity not exceeding 60 days. 2 Or must have an investment advisor with no fewer than 5 years experience and with assets under management of $500,000,000 USD . THIS COMPLETES THE REPORT REQUIREMENTS OF CALIFORNIA GOVERNMENT CODE 53646. COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 8 Compliance Report GOVERNMENT CODE COUNTY INVESTMENT POLICY Investment Category Maximum Maturity Authorized % Limit S&P/ Moody's Maximum Maturity Authorized % Limit S&P/ Moody's Actual % MUNICIPAL BONDS (MUNI) 5 YEARS NO LIMIT NA 4 YEARS 15% AA-/Aa3/AA- 2.57% U.S. TREASURIES 5 YEARS NO LIMIT NA 5 YEARS 100% NA 4.76% LOCAL AGENCY OBLIGATIONS (LAO) 5 YEARS NO LIMIT NA 3 YEARS 2.50% INVESTMENT GRADE <0.1% FEDERAL AGENCIES 5 YEARS NO LIMIT AAA 5 YEARS 100% NA 47.61% COMMERCIAL PAPER (CP) 270 DAYS 40% A1/P1 270 DAYS 40% A1/P1/F1 14.96% CERTIFICATE & TIME DEPOSITS (NCD & TCD) 5 YEARS 30% NA 1 YEAR 25% Combined A1/P1/F1 11.07% INT'L BANK FOR RECON- STRUCTION AND DEVEL- OPMENT AND INT'L FI- NANCE CORPORATION NA NA NA 4 YEARS 20% AA/Aa/AA 0.00% REPURCHASE AGREEMENTS (REPO) 1 YEARS NO LIMIT NA 45 DAYS 40% max, 25% in term repo over 7 days A1/P1/F1 0.00% REVERSE REPOS 92 DAYS 20% NA 60 DAYS 10% NA 0.00% MEDIUM TERM NOTES (MTNO) 5 YEARS 30% A 3 YEARS 20% AA/Aa2/AA 4.02% CALTRUST SHORT TERM FUND NA NA NA DAILY LIQUIDITY 1.00% NA 0.32% MONEY MARKET MUTUAL FUNDS (MMF) 60 DAYS (1) 20% AAA/Aaa (2) DAILY LIQUIDITY 20% AAA by 2 Of 3 RATINGS AGC. 0.83% LOCAL AGENCY INVESTMENT FUND (LAIF) NA NA NA DAILY LIQUIDITY Max $50 million NA 0.00% CASH/DEPOSIT ACCOUNT NA NA NA NA NA NA 13.86% 77 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss FIDELITY GOV 01/01/2019 2.198 1,000,000.00 1,000,000.00 100.000000 1,000,000.00 0.00 FEDERATED GOV 01/01/2019 2.138 1,000,000.00 1,000,000.00 100.000000 1,000,000.00 0.00 GOLDMAN SACHS GOV 01/01/2019 2.200 1,000,000.00 1,000,000.00 100.000000 1,000,000.00 0.00 WELLS FARGO GOV 01/01/2019 2.227 59,000,000.00 59,000,000.00 100.000000 59,000,000.00 0.00 2.225 62,000,000.00 62,000,000.00 100.000000 62,000,000.00 0.00 CALTRUST SHT TERM FUND 01/01/2019 2.372 23,976,023.98 24,000,000.00 100.100000 24,000,000.00 0.00 2.372 23,976,023.98 24,000,000.00 100.100000 24,000,000.00 0.00 BANK OF THE WEST 01/01/2019 2.452 300,000,000.00 300,000,000.00 100.000000 300,000,000.00 0.00 2.452 300,000,000.00 300,000,000.00 100.000000 300,000,000.00 0.00 UB MANAGED RATE 01/01/2019 2.350 450,000,000.00 450,000,000.00 100.000000 450,000,000.00 0.00 PACIFIC PREMIER BANK 01/01/2019 2.339 40,000,000.00 40,000,000.00 100.000000 40,000,000.00 0.00 FIRST REPUBLIC BANK 01/01/2019 2.347 250,000,000.00 250,000,000.00 100.000000 250,000,000.00 0.00 2.349 740,000,000.00 740,000,000.00 100.000000 740,000,000.00 0.00 US DIST COURTHOUSE 06/15/2020 2.759 120,000.00 120,000.00 100.000000 120,000.00 0.00 2.759 120,000.00 120,000.00 100.000000 120,000.00 0.00 U.S. TREASURY BILL 05/23/2019 2.370 20,000,000.00 19,687,950.00 99.049000 19,809,800.00 121,850.00 2.370 20,000,000.00 19,687,950.00 99.049000 19,809,800.00 121,850.00 U.S. TREASURY BOND 07/31/2019 1.375 25,000,000.00 24,975,585.94 99.316000 24,829,000.00 -146,585.94 U.S. TREASURY BOND 07/31/2019 1.375 25,000,000.00 24,980,468.75 99.316000 24,829,000.00 -151,468.75 U.S. TREASURY BOND 02/28/2019 1.125 20,000,000.00 19,811,718.75 99.799000 19,959,800.00 148,081.25 U.S. TREASURY BOND 05/15/2019 .875 15,000,000.00 14,819,531.25 99.410000 14,911,500.00 91,968.75 U.S. TREASURY BOND 01/31/2019 1.125 40,000,000.00 39,837,500.00 99.904000 39,961,600.00 124,100.00 U. S TREASURY BOND 03/31/2019 1.500 25,000,000.00 24,890,625.00 99.774000 24,943,500.00 52,875.00 U.S TREASURY BOND 02/15/2019 2.750 25,000,000.00 25,014,648.44 100.042000 25,010,500.00 -4,148.44 U.S TREASURY BOND 06/30/2019 1.625 40,000,000.00 39,787,500.00 99.547000 39,818,800.00 31,300.00 U.S TREASURY BOND 07/31/2019 1.375 25,000,000.00 24,811,523.44 99.316000 24,829,000.00 17,476.56 U.S TREASURY BOND 07/31/2019 .875 25,000,000.00 24,736,328.13 99.039000 24,759,750.00 23,421.87 U.S. TREASURY BOND 11/15/2019 1.000 75,000,000.00 73,939,453.13 98.594000 73,945,500.00 6,046.87 1.329 340,000,000.00 337,604,882.83 99.352338 337,797,950.00 193,067.17 FHLMC 3YrNc1YrE 03/29/2019 1.300 9,000,000.00 9,000,000.00 99.746000 8,977,140.00 -22,860.00 FHLMC 3YrNc1YrE 03/29/2019 1.270 4,000,000.00 4,000,000.00 99.738000 3,989,520.00 -10,480.00 FHLMC 3.5YrNc6MoE 10/11/2019 1.500 15,000,000.00 15,000,000.00 99.101000 14,865,150.00 -134,850.00 FHLMC 3YrNc3MoB 07/26/2019 1.250 10,000,000.00 10,000,000.00 99.189000 9,918,900.00 -81,100.00 FHLMC 3.5YrNc1YrE 02/25/2020 1.250 10,000,000.00 10,000,000.00 98.477000 9,847,700.00 -152,300.00 FHLMC 3.5YrNc1YrE 05/08/2020 1.200 15,000,000.00 15,000,000.00 98.228000 14,734,200.00 -265,800.00 FHLMC 4YrNc6MoE 11/25/2020 1.370 25,000,000.00 25,000,000.00 97.754000 24,438,500.00 -561,500.00 FHLMC 4YrNc1YrE 11/30/2020 1.440 10,000,000.00 10,000,000.00 97.865000 9,786,500.00 -213,500.00 FHLMC 1.5YrNc1MoB 01/25/2019 1.350 10,000,000.00 10,000,000.00 99.940000 9,994,000.00 -6,000.00 FHLMC 2.25YrNc6MoB 09/27/2019 1.500 6,250,000.00 6,248,750.00 99.140000 6,196,250.00 -52,500.00 FHLMC 2YrNc3MoB 07/26/2019 1.600 5,000,000.00 5,000,000.00 99.453000 4,972,650.00 -27,350.00 FHLMC 3YrNc3MoB 09/29/2020 1.800 15,000,000.00 15,000,000.00 98.548000 14,782,200.00 -217,800.00 FHLMC 2.75Yr 01/17/2020 1.500 25,000,000.00 24,942,750.00 98.878000 24,719,500.00 -223,250.00 FHLMC 2.75YrNc2MoB 06/29/2020 1.750 20,000,000.00 19,983,860.00 98.676000 19,735,200.00 -248,660.00 FHLMC 2YrNc5MoB 09/27/2019 1.500 20,000,000.00 19,953,600.00 99.193000 19,838,600.00 -115,000.00 FHLMC 2YrNc6MoB 09/27/2019 1.500 25,000,000.00 24,942,500.00 99.193000 24,798,250.00 -144,250.00 FHLMC 2YrNc8MoE 01/30/2019 .950 20,000,000.00 19,820,000.00 99.893000 19,978,600.00 158,600.00 FHLMC 1.5YrNc5MoE 05/24/2019 1.080 10,000,000.00 9,895,000.00 99.443000 9,944,300.00 49,300.00 FHLMC 2.5YrNc3MoB 08/10/2020 1.450 10,000,000.00 9,769,000.00 98.190000 9,819,000.00 50,000.00 FHLMC 4.5YrNc7MoB 11/14/2022 2.300 12,628,000.00 12,381,754.00 98.359000 12,420,774.52 39,020.52 FHLMC 5YrNc3YrE 05/26/2023 3.000 15,000,000.00 15,000,000.00 100.456000 15,068,400.00 68,400.00 FHLMC 5YrNc2YrE 06/29/2023 3.100 5,000,000.00 5,000,000.00 100.398000 5,019,900.00 19,900.00 FHLMC 3YrNc1YrE 10/29/2021 3.100 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 FHLMC 3YrNc1YrE 11/15/2021 3.150 10,000,000.00 10,000,000.00 100.000000 10,000,000.00 0.00 FHLMC 3YrNc1YrE 11/15/2021 3.150 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 FHLMC 3YrNc1YrE 11/15/2021 3.150 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 FHLMC 3YrNc1YrE 11/26/2021 3.150 25,000,000.00 25,000,000.00 100.395000 25,098,750.00 98,750.00 FHLMC 3YrNc1YrE 11/26/2021 3.160 10,000,000.00 10,000,000.00 100.426000 10,042,600.00 42,600.00 FHLMC 1.6YrNc1Yr 07/13/2020 1.850 15,000,000.00 14,758,950.00 98.871000 14,830,650.00 71,700.00 FHLMC 2YrNc6MoB 12/20/2021 3.150 10,000,000.00 10,000,000.00 100.118000 10,011,800.00 11,800.00 FHLMC 2.7YrNc6MoB 09/21/2021 3.030 15,000,000.00 15,000,000.00 100.069000 15,010,350.00 10,350.00 FHLMC 3YrNc3MoB 12/28/2021 3.150 10,000,000.00 10,000,000.00 100.082000 10,008,200.00 8,200.00 FHLMC 1.75YrNc3MoB 09/28/2020 2.900 20,000,000.00 20,000,000.00 100.032000 20,006,400.00 6,400.00 1.981 426,878,000.00 425,696,164.00 99.291597 423,853,984.52 -1,842,179.48 FHLMC 2YrNc1MoB 10/24/2019 1.750 15,000,000.00 14,973,750.00 99.701000 14,955,150.00 -18,600.00 1.750 15,000,000.00 14,973,750.00 99.701000 14,955,150.00 -18,600.00 FHLMC 5YrNc6MoB 10/29/2020 1.500 15,000,000.00 15,000,000.00 99.472000 14,920,800.00 -79,200.00 FHLMC 5YrNc6MoB 02/26/2021 1.500 10,000,000.00 10,000,000.00 99.078000 9,907,800.00 -92,200.00 FHLMC 5YrNc6MoB 02/26/2021 1.500 10,000,000.00 10,000,000.00 99.376000 9,937,600.00 -62,400.00 FHLMC 5YrNc3MoB 06/09/2021 1.600 15,000,000.00 15,000,000.00 98.110000 14,716,500.00 -283,500.00 FHLMC 5YrNc3MoB 05/25/2021 1.500 20,000,000.00 20,000,000.00 98.197000 19,639,400.00 -360,600.00 FHLMC 5YrNc3MoB 06/16/2021 1.750 15,000,000.00 14,997,000.00 98.885000 14,832,750.00 -164,250.00 FHLMC 5YrNc3MoB 06/30/2021 1.500 15,000,000.00 15,000,000.00 98.086000 14,712,900.00 -287,100.00 FHLMC 5YrNc6MoB 06/30/2021 1.700 15,000,000.00 15,000,000.00 98.680000 14,802,000.00 -198,000.00 FHLMC 5YrNc3MoB 06/30/2021 1.500 10,000,000.00 10,000,000.00 97.892000 9,789,200.00 -210,800.00 FHLMC 3.5YrNc3MoB 12/30/2019 2.500 15,000,000.00 15,000,000.00 99.890000 14,983,500.00 -16,500.00 FHLMC 5YrNc6MoB 07/13/2021 1.750 15,000,000.00 15,000,000.00 99.185000 14,877,750.00 -122,250.00 FHLMC 4YrNc6MoB 07/27/2020 1.300 15,000,000.00 15,000,000.00 98.284000 14,742,600.00 -257,400.00 FHLMC 5YrNc3MoB 08/10/2021 1.500 15,000,000.00 15,000,000.00 97.762000 14,664,300.00 -335,700.00 FHLMC 4YrNc6MoB 08/10/2020 1.300 15,000,000.00 15,000,000.00 98.216000 14,732,400.00 -267,600.00 3134G9S40 3134GABZ6 3134GAYK4 3134G92B2 3134GAK78 3134GBTX0 3134GBG30 3134GSMF9 3134GSQL2 3134GSA96 3134GSK95 3134GSD44 3134G8KU2 3134G9UX3 3134G8L31 912828KD1 912828WS5 3134GBX80 3134GBWH1 3134G9Q75 3134GSB53 3134GSA96 3134G9XA0 3134G9JW8 2.347 2.759 2.048 1310: U.S. TREASURY BOND CUSIP WFFXX 3134G9W37 3134G8QB8 3134G8QE2 3134GBG30 CLTR 912828SN1 9128282K5 Month End Portfolio Holdings Fund: 1 POOL FUND Yield To Mat Modified Duration Years To Maturity FRGXX 2.198 .003 .003 1060: MMKT ACCTS-A/365-6 2.138 .003 .003 FGTXX 2.200 .003 .003 GOFXX 2.227 .003 .003 2.225 .003 .003 2.366 .003 .003 .003 .0032.366 2.452 .003 .003 2.452 .003 .003 2.350 .003 .003 2.339 .003 .003 .003 .003 .003 .688 1.458 2.349 .003 2.759 .688 1.458 2.408 .382 .392 2.408 .382 .392 1.428 .576 .581 1.418 .576 .581 .160 .162 2.297 .365 .370 2.308 .084 .085 2.400 .243 .247 2.420 .124 .126 2.591 .489 .496 2.608 .572 .581 2.601 .574 .581 9128282K5 2.628 .858 .874 2.324 .477 .484 1.300 .239 .241 1.270 .239 .241 1.500 .768 .778 1.250 .563 .567 1.250 1.134 1.153 1.200 1.336 1.353 1.370 1.867 1.904 1.440 1.882 1.918 1.350 .068 .068 1.509 .730 .740 1.600 .561 .567 1.800 1.703 1.748 1.602 1.025 1.047 1.780 1.468 1.496 1.620 .729 .740 1.621 .729 .740 .082 1.809 .391 .395 2.421 1.568 1.611 1.734 .081 2.755 3.662 3.874 3.000 4.086 4.403 3.100 4.165 4.496 3.100 2.674 2.830 3.150 2.716 2.877 3.150 2.716 2.877 3.150 2.716 2.877 3.150 2.746 2.907 3.160 2.745 2.907 2.870 1.484 1.534 3.150 2.811 2.973 3.030 2.591 2.726 3.150 2.833 2.995 1.927 .807 .814 2.900 1.685 1.745 2.131 1.650 1.722 1.500 1.798 1.830 1.927 .807 .814 1.500 2.106 2.159 1.600 2.380 2.441 1.500 2.106 2.159 1.500 2.345 2.400 1.757 2.400 2.460 1.500 2.445 2.499 1.700 2.447 2.499 1.500 2.445 2.499 2.500 .985 .997 1.750 2.465 2.534 1.300 1.545 1.573 1.500 2.543 2.611 3134G9S57 1.300 1.581 1.611 3134G9R66 3134G9UH8 3134G9NU7 3134G9UM7 CASH 3134GAXZ2 3134G9NH6 3134G9VA2 1300: U.S. TREASURY BILL 912828R44 912828V56 3134G9JX6 3134GAVF8 3134GBYS5 3134GBK35 3134GAPS7 1065: CLTR-A/365-6 CASH CASH 1080: MGD RATE-A/365-6 1170: MGD RATE-A/360 CASH 1175: LAO-SINKING FND-A/360 9128282K5 912828W30 912828TH3 912828U32 912796QH5 LAO 1425: FHLMC-Fxd-S 30/360 3134GSC45 3134GBXV9 3134GSN68 3134GSH57 3134G8TG4 3134GSA96 3134GSH40 3137EAEE5 1460: FHLMC-STEP%-Q30/360 1465: FHLMC-STEP%-S30/360 3134G7S77 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 978 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss CUSIP Month End Portfolio Holdings Yield To Mat Modified Duration Years To Maturity FHLMC 5YrNc3MoB 08/10/2021 1.500 10,000,000.00 10,000,000.00 98.244000 9,824,400.00 -175,600.00 FHLMC 5YrNc3MoB 08/25/2021 1.500 15,000,000.00 15,000,000.00 97.737000 14,660,550.00 -339,450.00 FHLMC 5YrNc3MoB 08/25/2021 1.500 10,000,000.00 10,000,000.00 97.180000 9,718,000.00 -282,000.00 FHLMC 5YrNc3MoB 08/25/2021 1.375 15,000,000.00 15,000,000.00 97.766000 14,664,900.00 -335,100.00 FHLMC 4.25YrNc3MoB 12/08/2020 1.250 20,000,000.00 20,000,000.00 98.077000 19,615,400.00 -384,600.00 FHLMC 5YrNc6MoB 08/24/2021 1.500 20,000,000.00 20,000,000.00 98.556000 19,711,200.00 -288,800.00 FHLMC 5YrNc3MoB 09/13/2021 1.500 16,500,000.00 16,500,000.00 97.988000 16,168,020.00 -331,980.00 FHLMC 5YrNc3MoB 09/30/2021 1.500 20,000,000.00 20,000,000.00 97.831000 19,566,200.00 -433,800.00 FHLMC 5YrNc6MoB 09/30/2021 1.450 15,000,000.00 15,000,000.00 98.186000 14,727,900.00 -272,100.00 FHLMC 5YrNc6MoB 09/30/2021 1.500 15,000,000.00 15,000,000.00 98.045000 14,706,750.00 -293,250.00 FHLMC 5YrNc3MoB 10/25/2021 1.500 10,000,000.00 10,000,000.00 97.915000 9,791,500.00 -208,500.00 FHLMC 5YrNc3MoB 10/25/2021 1.500 6,705,000.00 6,705,000.00 97.915000 6,565,200.75 -139,799.25 FHLMC 5YrNc3MoB 10/27/2020 1.500 10,000,000.00 10,000,000.00 98.572000 9,857,200.00 -142,800.00 FHLMC 5YrNc6MoB 10/27/2021 1.400 15,000,000.00 15,000,000.00 97.502000 14,625,300.00 -374,700.00 FHLMC 5YrNc6MoB 10/27/2021 1.400 15,000,000.00 15,000,000.00 97.502000 14,625,300.00 -374,700.00 FHLMC 5YrNc6MoB 10/28/2021 1.500 10,000,000.00 10,000,000.00 99.032000 9,903,200.00 -96,800.00 FHLMC 5YrNc3MoB 10/27/2021 1.500 15,000,000.00 15,000,000.00 97.719000 14,657,850.00 -342,150.00 FHLMC 5YrNc3MoB 10/27/2021 1.500 15,000,000.00 15,000,000.00 97.719000 14,657,850.00 -342,150.00 FHLMC 5YrNc3MoB 10/27/2021 1.500 10,000,000.00 10,000,000.00 98.071000 9,807,100.00 -192,900.00 FHLMC 5YrNc3MoB 11/10/2021 1.550 17,000,000.00 17,000,000.00 97.620000 16,595,400.00 -404,600.00 FHLMC 5YrNc3MoB 10/27/2021 1.500 14,000,000.00 14,000,000.00 98.071000 13,729,940.00 -270,060.00 FHLMC 5YrNc3MoB 11/30/2021 1.500 4,500,000.00 4,500,000.00 97.540000 4,389,300.00 -110,700.00 FHLMC 5YrNc3MoB 11/26/2021 1.550 20,000,000.00 20,000,000.00 97.548000 19,509,600.00 -490,400.00 FHLMC 5YrNc3MoB 12/09/2021 1.750 10,000,000.00 10,000,000.00 98.412000 9,841,200.00 -158,800.00 FHLMC 5YrNc3MoB 12/09/2021 1.650 20,000,000.00 20,000,000.00 98.665000 19,733,000.00 -267,000.00 FHLMC 5YrNc3MoB 12/30/2021 1.900 10,000,000.00 10,000,000.00 98.462000 9,846,200.00 -153,800.00 FHLMC 5YrNc3MoB 12/30/2021 1.900 10,000,000.00 10,000,000.00 98.462000 9,846,200.00 -153,800.00 FHLMC 3YrNc6MoB 02/24/2020 2.000 20,000,000.00 20,000,000.00 100.020000 20,004,000.00 4,000.00 FHLMC 3.5Yr 10/29/2020 1.500 7,125,000.00 7,108,968.75 99.472000 7,087,380.00 -21,588.75 FHLMC 3.5YrNc6MoB 10/27/2020 2.000 15,000,000.00 15,000,000.00 99.871000 14,980,650.00 -19,350.00 FHLMC 3YrNc3MoB 04/27/2020 1.750 10,000,000.00 10,000,000.00 99.519000 9,951,900.00 -48,100.00 FHLMC 3YrNc3MoB 04/27/2020 1.650 20,000,000.00 20,000,000.00 98.641000 19,728,200.00 -271,800.00 FHLMC 3YrNc3MoB 05/22/2020 1.750 10,000,000.00 10,000,000.00 99.334000 9,933,400.00 -66,600.00 FHLMC 3YrNc6MoB 05/22/2020 1.700 20,000,000.00 20,000,000.00 98.983000 19,796,600.00 -203,400.00 FHLMC 4YrNc6MoB 02/24/2021 1.750 15,000,000.00 15,000,000.00 99.075000 14,861,250.00 -138,750.00 FHLMC 3YrNc6MoB 11/24/2020 1.700 15,000,000.00 15,000,000.00 98.744000 14,811,600.00 -188,400.00 FHLMC 5YrNc3MoB 06/29/2022 2.050 20,000,000.00 20,000,000.00 98.879000 19,775,800.00 -224,200.00 FHLMC 5YrNc6MoB 06/22/2022 2.000 15,000,000.00 15,000,000.00 98.384000 14,757,600.00 -242,400.00 FHLMC 5YrNc3MoB 07/05/2022 2.000 20,000,000.00 20,000,000.00 98.886000 19,777,200.00 -222,800.00 FHLMC 3.5YrNc3MoB 01/20/2021 1.500 10,000,000.00 10,000,000.00 99.380000 9,938,000.00 -62,000.00 FHLMC 5YrNc3MoB 07/27/2022 2.050 20,000,000.00 20,000,000.00 98.630000 19,726,000.00 -274,000.00 FHLMC 5YrNc3MoB 07/27/2022 2.100 20,000,000.00 20,000,000.00 98.991000 19,798,200.00 -201,800.00 FHLMC 5YrNc3MoB 08/08/2023 1.500 5,000,000.00 4,790,170.00 97.133000 4,856,650.00 66,480.00 FHLMC 5YrNc2MoB 07/27/2022 2.250 3,000,000.00 2,946,600.00 98.975000 2,969,250.00 22,650.00 FHLMC3YrNc2MoB 06/15/2022 2.000 10,000,000.00 9,799,500.00 99.268000 9,926,800.00 127,300.00 1.647 823,830,000.00 823,347,238.75 98.477191 811,284,640.75 -12,062,598.00 FNMA 3.5YrNc6MoB 12/16/2019 1.500 5,000,000.00 5,000,000.00 98.929000 4,946,450.00 -53,550.00 FNMA 4YrNc6MoE 07/13/2020 1.350 10,000,000.00 10,000,000.00 98.231000 9,823,100.00 -176,900.00 FNMA 3.25YrNc6MoB 09/30/2019 1.250 7,500,000.00 7,500,000.00 98.973000 7,422,975.00 -77,025.00 FNMA 3YrNc6MoE 07/26/2019 1.000 10,000,000.00 10,000,000.00 99.083000 9,908,300.00 -91,700.00 FNMA 3YrNc6MoE 07/26/2019 1.000 10,000,000.00 10,000,000.00 99.083000 9,908,300.00 -91,700.00 FNMA 2.5YrNc6MoE 01/25/2019 .875 7,500,000.00 7,495,350.00 99.901000 7,492,575.00 -2,775.00 FNMA 3YrNc1YrE 07/26/2019 1.050 15,000,000.00 15,000,000.00 99.124000 14,868,600.00 -131,400.00 FNMA 3.5YrNc1YrE 07/26/2019 1.125 25,000,000.00 25,000,000.00 99.185000 24,796,250.00 -203,750.00 FNMA 3Yr 10/24/2019 1.000 10,000,000.00 9,973,200.00 98.675000 9,867,500.00 -105,700.00 FNMA 3YrNc6MoB 11/25/2019 1.400 10,000,000.00 10,000,000.00 98.887000 9,888,700.00 -111,300.00 FNMA 3Yr 07/30/2020 1.500 10,000,000.00 9,969,700.00 98.347000 9,834,700.00 -135,000.00 FNMA 2Yr 08/28/2019 1.500 10,000,000.00 10,019,600.00 99.262000 9,926,200.00 -93,400.00 FNMA 2.16Yr2MoB 01/27/2020 1.650 5,000,000.00 4,983,850.00 99.011000 4,950,550.00 -33,300.00 FNMA 1.4YrNC5MoB 05/29/2019 1.300 10,000,000.00 9,922,200.00 99.504000 9,950,400.00 28,200.00 FNMA 1.25Yr 02/26/2019 1.000 25,000,000.00 24,770,250.00 99.777000 24,944,250.00 174,000.00 FNMA 2Yr 01/21/2020 1.625 15,000,000.00 14,910,900.00 99.005000 14,850,750.00 -60,150.00 FNMA 2.25Yr 03/06/2020 1.750 11,082,000.00 11,042,326.44 99.040000 10,975,612.80 -66,713.64 FNMA 4.83Yr 10/05/2022 2.000 15,000,000.00 14,782,200.00 98.110000 14,716,500.00 -65,700.00 FNMA 5Yr 01/19/2023 2.375 10,000,000.00 9,944,100.00 99.252000 9,925,200.00 -18,900.00 FNMA 8Mo 08/28/2019 1.000 28,799,000.00 28,472,995.32 98.934000 28,492,002.66 19,007.34 1.310 249,881,000.00 248,786,671.76 99.042711 247,488,915.46 -1,297,756.30 FNMA 4.25YrNc6MoB 09/09/2020 1.625 15,000,000.00 15,000,000.00 98.076000 14,711,400.00 -288,600.00 1.625 15,000,000.00 15,000,000.00 98.076000 14,711,400.00 -288,600.00 FNMA 4YrNc6MoB 03/09/2020 1.750 15,000,000.00 15,000,000.00 99.529000 14,929,350.00 -70,650.00 FNMA 4YrNc6MoB 03/30/2020 2.000 10,000,000.00 10,000,000.00 99.884000 9,988,400.00 -11,600.00 FNMA 5YrNc6MoB 03/30/2021 1.750 15,000,000.00 15,000,000.00 98.052000 14,707,800.00 -292,200.00 FNMA 5YrNc6MoB 06/09/2021 1.550 15,000,000.00 15,000,000.00 98.233000 14,734,950.00 -265,050.00 FNMA 4YrNc6MoB 06/30/2020 1.500 20,000,000.00 20,000,000.00 98.692000 19,738,400.00 -261,600.00 FNMA 5YrNc6MoB 07/27/2021 1.300 15,000,000.00 15,000,000.00 97.343000 14,601,450.00 -398,550.00 FNMA 5YrNc6MoB 07/27/2021 1.375 20,000,000.00 20,000,000.00 97.591000 19,518,200.00 -481,800.00 FNMA 4YrNc6MoB 11/24/2020 1.250 15,000,000.00 15,000,000.00 97.796000 14,669,400.00 -330,600.00 1.532 125,000,000.00 125,000,000.00 98.310360 122,887,950.00 -2,112,050.00 FHLB DISC NTE 02/15/2019 2.300 25,000,000.00 24,803,541.67 99.707000 24,926,750.00 123,208.33 FHLB DISC NTE 07/26/2019 2.530 25,000,000.00 24,615,229.17 98.588000 24,647,000.00 31,770.83 FHLB DISC NTE 05/22/2019 2.480 37,015,000.00 36,642,711.36 99.047000 36,662,247.05 19,535.69 FHLB DISC NTE 05/22/2019 2.420 48,000,000.00 47,528,906.67 99.047000 47,542,560.00 13,653.33 FHLB DISC NTE 09/26/2019 2.570 50,000,000.00 49,065,972.22 98.138000 49,069,000.00 3,027.78 FHLB DISC NTE 09/26/2019 2.500 50,000,000.00 49,065,972.22 98.138000 49,069,000.00 3,027.78 2.477 235,015,000.00 231,722,333.31 98.681598 231,916,557.05 194,223.74 FHLB 4.5 Yr 06/10/2022 2.125 7,975,000.00 7,955,620.75 98.306000 7,839,903.50 -115,717.25 FHLB 3Yr 01/25/2021 2.200 15,000,000.00 14,994,900.00 99.307000 14,896,050.00 -98,850.00 FHLB 1.33Yr 05/28/2019 1.375 10,000,000.00 9,921,300.00 99.512000 9,951,200.00 29,900.003130ABF92 3134GAYR9 3136G0YK1 3135G0S46 3135G0A78 3136G3SG1 3136G4GU1 3136G3BX2 313384ME6 3134GBYN6 3134GBRW4 3135G0T94 3135G0P49 313384FX2 313384FX2 3136G3PB5 3136G3XS9 3136G3A62 3135G0R39 3134GBKC5 3134GBMP4 3134GBTD4 3135G0T60 3134GBHN5 3136G3RL1 3134GBZQ8 313379Q69 3134GAYF5 1.500 2.543 2.611 1.500 2.575 2.652 1.500 2.575 2.652 3134G96A0 1.375 2.582 2.652 3134G95W3 1.250 1.906 1.940 3134GAEG5 1.500 2.581 2.649 3134GAEB6 1.500 2.625 2.704 3134GAET7 1.500 2.675 2.751 3134GADP6 1.450 2.677 2.751 3134GANB6 1.500 2.680 2.751 3134GAKY9 1.500 2.745 2.819 3134GAPM0 1.500 2.745 2.819 3134GAPM0 1.500 1.790 1.825 3134GAQV9 1.400 2.751 2.825 3134GAPA6 1.400 2.751 2.825 3134GARL0 1.500 2.758 2.827 3134GAQV9 1.500 2.746 2.8253134GASF2 3134GASF2 1.500 2.746 2.825 1.500 2.750 2.825 3134GATB0 1.550 2.780 2.863 3134GATA2 1.500 2.750 2.825 3134GAUA0 1.500 2.840 2.918 3134GATA2 1.550 2.824 2.907 1.750 2.858 2.942 1.650 2.855 2.942 1.900 2.903 3.000 1.900 2.903 3.000 3134GAA87 3134GAA87 2.000 1.127 1.1513134GAZ49 1.615 1.796 1.830 3134GBGB2 2.000 1.784 1.825 3134G7S77 1.750 1.300 1.323 1.650 1.300 1.323 1.750 1.369 1.392 1.700 1.368 1.392 1.750 2.088 2.153 1.700 1.858 1.901 2.050 3.355 3.496 2.000 3.339 3.477 3.342 3.512 1.500 2.001 2.058 2.050 3.398 3.573 2.000 2.100 3.394 3.573 2.399 4.382 4.605 1.350 2.732 3.372 3.573 3.458 1.663 2.434 2.507 2.603 3.315 1.500 .948 .959 1.503 1.534 1.250 .742 .748 .068 .068 .564 .5671.000 1.050 .564 .567 1.000 .564 .567 .900 1.125 .563 .567 1.091 .807 .814 1.400 .890 .901 1.604 1.546 1.581 1.400 .658 .658 1.800 1.051 1.074 1.833 .404 .408 1.761 .155 .156 1.030 1.911 1.034 1.058 .658 2.495 3.797 1.913 1.157 1.181 4.055 1.664 1.693 1.625 1.664 1.693 1.625 1.654 1.001 2.322 3.583 3.764 2.655 .655 2.382 2.573 2.000 1.226 1.247 2.441 2.194 2.247 1.550 1.500 1.480 1.750 1.169 1.189 1.300 1.750 2.510 2.509 1.533 1.947 1.990 1.9011.869 1.499 1.375 2.573 2.444 .379 .389 2.318 .123 .126 1.250 2.570 .553 .567 2.505 .379 .389 2.548 .718 .737 2.497 .513 .527 2.548 .718 .737 2.182 3.297 3.444 2.212 1.991 2.071 1.972 .401 .405 3134G92T3 3136G3P25 3136G3Y74 3134GBTE2 3134GBYK2 3134G9T23 313384BX6 313384ME6 3134GBPJ5 3134G9U47 3130ADFW7 3134GBWD0 3134GBWS7 3134GAYG3 3134GBSE3 3134GBSD5 1525: FNMA-Fxd-S 30/360 3136G1MG1 3135G0J53 3135G0UU5 3135G0T78 3136G3WC5 3136G3SY2 3135G0M26 3135G0M26 1560: FNMA-STEP%-Q 30/360 1565: FNMA-STEP%-S 30/360 3136G3EH4 3136G3DV4 3136G3TG0 3136G3XT7 1700: FHLB-DISC NOTE 313384JQ3 3136G3ZW8 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 1079 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss CUSIP Month End Portfolio Holdings Yield To Mat Modified Duration Years To Maturity FHLB 3Yr 03/12/2021 2.375 10,000,000.00 9,968,000.00 99.593000 9,959,300.00 -8,700.00 FHLB 3Yr 03/12/2021 2.375 10,000,000.00 9,966,500.00 99.593000 9,959,300.00 -7,200.00 FHLB 2.5YrNc3MoB 09/15/2020 2.500 5,000,000.00 5,000,000.00 99.936000 4,996,800.00 -3,200.00 FHLB 4.08Yr 03/11/2022 2.500 10,000,000.00 9,954,700.00 99.797000 9,979,700.00 25,000.00 FHLB 2YrNc3MoB 03/20/2020 2.350 10,000,000.00 10,000,000.00 99.693000 9,969,300.00 -30,700.00 FHLB 10Mo 01/16/2019 1.250 23,155,000.00 22,988,052.45 99.950000 23,143,422.50 155,370.05 FHLB 2.83YrNc1.33YrE 01/29/2021 2.250 20,000,000.00 19,833,600.00 99.376000 19,875,200.00 41,600.00 FHLB 2.75YrNc1.25YrE 01/29/2021 2.250 10,000,000.00 9,928,600.00 99.376000 9,937,600.00 9,000.00 FHLB 9Mo 01/16/2019 1.250 50,000,000.00 49,658,000.00 99.950000 49,975,000.00 317,000.00 FHLB 4.9Yr 03/10/2023 2.125 11,750,000.00 11,432,397.50 97.951000 11,509,242.50 76,845.00 FHLB 1.167Yr 06/21/2019 1.125 10,620,000.00 10,480,240.80 99.313000 10,547,040.60 66,799.80 FHLB 3Yr 05/07/2021 2.700 7,650,000.00 7,644,492.00 100.445000 7,684,042.50 39,550.50 FHLB 3Yr 05/07/2021 2.700 10,000,000.00 9,999,100.00 100.445000 10,044,500.00 45,400.00 FHLB 11Mo 06/14/2019 4.375 5,000,000.00 5,092,350.00 100.791000 5,039,550.00 -52,800.00 FHLB 4.17Yr 09/29/2022 1.650 15,730,000.00 14,940,354.00 96.484000 15,176,933.20 236,579.20 FHLB 4.9YrNc1Mo 07/28/2023 1.800 3,700,000.00 3,504,196.00 95.641000 3,538,717.00 34,521.00 FHLB 11MoB 09/26/2019 1.000 20,180,000.00 19,877,300.00 98.791000 19,936,023.80 58,723.80 FHLB 3YrNc1YrE 11/26/2021 3.125 10,000,000.00 9,992,900.00 100.296000 10,029,600.00 36,700.00 FHLB 3YrNc1YrB 11/29/2021 3.200 15,000,000.00 15,000,000.00 100.203000 15,030,450.00 30,450.00 FHLB 3 YrNc6MoB 12/06/2021 3.220 10,000,000.00 10,000,000.00 100.228000 10,022,800.00 22,800.00 FHLB 1.5YrNc3MoB 05/28/2020 3.000 10,000,000.00 10,000,000.00 100.072000 10,007,200.00 7,200.00 FHLB 4.5Yr 06/09/2023 2.050 10,000,000.00 9,540,100.00 97.006000 9,700,600.00 160,500.00 FHLB 9MoNc3MoB 06/26/2020 2.750 10,000,000.00 10,000,000.00 100.006000 10,000,600.00 600.00 FHLB 9MoNc3MoB 06/26/2020 2.750 10,000,000.00 10,000,000.00 100.006000 10,000,600.00 600.00 FHLB 9MoNc3MoB 06/26/2020 2.750 15,000,000.00 15,000,000.00 100.006000 15,000,900.00 900.00 FHLB 5YrNc3MoB 12/28/2023 3.200 15,000,000.00 15,000,000.00 100.048000 15,007,200.00 7,200.00 FHLB 1.5YrNc3MoB 06/26/2020 2.750 11,325,000.00 11,325,000.00 100.006000 11,325,679.50 679.50 1.971 519,935,000.00 516,741,099.00 99.399849 516,814,603.60 73,504.60 FHLB 3YrNcMoB 08/15/2019 2.500 25,000,000.00 25,000,000.00 99.971000 24,992,750.00 -7,250.00 2.500 25,000,000.00 25,000,000.00 99.971000 24,992,750.00 -7,250.00 FHLB 5YrNc3MoB 09/30/2021 1.500 15,000,000.00 15,000,000.00 98.517000 14,777,550.00 -222,450.00 FHLB 5YrNc3MoB 09/30/2021 1.500 15,000,000.00 15,000,000.00 98.509000 14,776,350.00 -223,650.00 FHLB 5YrNc6MoB 12/09/2021 1.600 10,000,000.00 10,000,000.00 98.077000 9,807,700.00 -192,300.00 FHLB 5YrNc6MoB 12/09/2021 1.600 10,000,000.00 10,000,000.00 98.077000 9,807,700.00 -192,300.00 FHLB 5YrNc1YrB 12/08/2021 1.700 15,000,000.00 15,000,000.00 98.749000 14,812,350.00 -187,650.00 FHLB 5YrNc6MoB 07/26/2022 2.000 15,000,000.00 15,000,000.00 98.944000 14,841,600.00 -158,400.00 FHLB 5YrNc6MoB 02/09/2022 1.750 20,000,000.00 20,000,000.00 99.215000 19,843,000.00 -157,000.00 FHLB 5YrNc3MoB 08/24/2022 2.000 10,000,000.00 10,000,000.00 98.360000 9,836,000.00 -164,000.00 FHLB 5YrNc3MoB 08/24/2022 2.000 15,000,000.00 15,000,000.00 98.292000 14,743,800.00 -256,200.00 FHLB 5YrNc3MoB 05/24/2022 2.000 20,000,000.00 20,000,000.00 99.230000 19,846,000.00 -154,000.00 FHLB 3.4YrNc2MoB 11/08/2021 1.500 10,000,000.00 9,690,500.00 98.105000 9,810,500.00 120,000.00 FHLB 4.16YrNc2MoB 11/25/2022 1.750 5,100,000.00 4,967,400.00 98.340000 5,015,340.00 47,940.00 1.758 160,100,000.00 159,657,900.00 98.637033 157,917,890.00 -1,740,010.00 FHLB 4Yr 09/22/2020 2.654 10,000,000.00 10,000,000.00 100.211000 10,021,100.00 21,100.00 FHLB 4Yr 09/22/2020 2.654 15,000,000.00 15,000,000.00 100.211000 15,031,650.00 31,650.00 FHLB 4Yr 09/28/2020 2.656 10,000,000.00 10,000,000.00 100.249000 10,024,900.00 24,900.00 FHLB 4Yr 09/28/2020 2.656 15,000,000.00 15,000,000.00 100.249000 15,037,350.00 37,350.00 2.655 50,000,000.00 50,000,000.00 100.230000 50,115,000.00 115,000.00 FHLB 3Yr 07/01/2020 2.521 25,000,000.00 25,000,000.00 100.387000 25,096,750.00 96,750.00 2.521 25,000,000.00 25,000,000.00 100.387000 25,096,750.00 96,750.00 FFCB DISC NTE 09/30/2019 2.570 75,000,000.00 73,511,541.67 98.111000 73,583,250.00 71,708.33 FFCB DISC NTE 09/19/2019 2.570 25,000,000.00 24,525,263.89 98.187000 24,546,750.00 21,486.11 2.570 100,000,000.00 98,036,805.56 98.130000 98,130,000.00 93,194.44 FFCB 3YrNc1YrA 03/29/2019 1.250 10,310,000.00 10,310,000.00 99.715000 10,280,616.50 -29,383.50 FFCB 4YrNc1YrA 04/27/2020 1.420 7,700,000.00 7,700,000.00 98.558000 7,588,966.00 -111,034.00 FFCB 2.5YrNc3MoA 01/28/2019 1.110 25,000,000.00 25,000,000.00 99.917000 24,979,250.00 -20,750.00 FFCB 4YrNc1YrA 08/24/2020 1.320 10,000,000.00 10,000,000.00 97.965000 9,796,500.00 -203,500.00 FFCB 4YrNc1YrA 09/21/2020 1.350 10,000,000.00 10,000,000.00 97.909000 9,790,900.00 -209,100.00 FFCB 4YrNc1YrA 10/13/2020 1.340 15,000,000.00 15,000,000.00 97.832000 14,674,800.00 -325,200.00 FFCB 4YrNc3MoA 11/02/2020 1.380 10,000,000.00 10,000,000.00 97.839000 9,783,900.00 -216,100.00 FFCB 4YrNc1YrA 12/07/2020 1.770 10,000,000.00 10,000,000.00 98.456000 9,845,600.00 -154,400.00 FFCB 3YrNc1YrE 02/27/2020 1.710 10,000,000.00 10,000,000.00 99.081000 9,908,100.00 -91,900.00 FFCB 2.5Yr 01/17/2020 1.520 10,000,000.00 10,000,000.00 98.898000 9,889,800.00 -110,200.00 FFCB 3Yr 08/10/2020 1.550 5,000,000.00 5,000,000.00 98.378000 4,918,900.00 -81,100.00 FFCB 2Yr 08/28/2019 1.400 5,000,000.00 5,000,000.00 99.217000 4,960,850.00 -39,150.00 FFCB 2Yr 06/24/2019 1.520 5,000,000.00 5,010,640.00 99.508000 4,975,400.00 -35,240.00 FFCB 2Yr 08/28/2019 1.400 10,000,000.00 9,998,000.00 99.217000 9,921,700.00 -76,300.00 FFCB 3Yr 03/20/2020 1.450 20,000,000.00 19,970,400.00 98.713000 19,742,600.00 -227,800.00 FFCB 3Yr 10/26/2020 1.750 20,000,000.00 19,994,000.00 98.512000 19,702,400.00 -291,600.00 FFCB 2Yr 11/06/2019 1.600 25,000,000.00 24,967,247.50 99.097000 24,774,250.00 -192,997.50 FFCB 4Yr 01/12/2022 2.200 10,000,000.00 9,938,000.00 98.766000 9,876,600.00 -61,400.00 FFCB 3Yr 03/01/2021 2.500 10,000,000.00 9,999,700.00 99.862000 9,986,200.00 -13,500.00 FFCB 2.8Yr 02/12/2021 2.350 15,000,000.00 14,948,670.00 99.571000 14,935,650.00 -13,020.00 FFCB 5Yr 04/11/2023 2.700 10,000,000.00 9,990,300.00 99.924000 9,992,400.00 2,100.00 FFCB 3Yr 05/10/2021 2.700 10,000,000.00 9,986,600.00 100.300000 10,030,000.00 43,400.00 FFCB 4.5Yr 04/11/2023 2.400 5,000,000.00 4,839,900.00 98.333000 4,916,650.00 76,750.00 FFCB 5Yr 10/02/2023 3.050 10,000,000.00 9,979,300.00 101.519000 10,151,900.00 172,600.00 FFCB4 4YrNc1YrA 11/01/2022 3.330 5,000,000.00 5,000,000.00 100.266000 5,013,300.00 13,300.00 FFCB 4.4YrA 04/03/2023 2.280 21,000,000.00 20,237,490.00 98.177000 20,617,170.00 379,680.00 FFCB 2.9Yr 11/15/2021 3.050 10,000,000.00 10,035,700.00 101.313000 10,131,300.00 95,600.00 FFCB 4.2YrNc1WKA 03/01/2023 2.200 10,000,000.00 9,660,530.00 97.818000 9,781,800.00 121,270.00 FFCB 3.8YrNc1WKA 10/05/2022 2.050 10,000,000.00 9,640,870.00 97.600000 9,760,000.00 119,130.00 FFCB 1.5Yr 06/24/2020 2.750 10,000,000.00 9,999,000.00 100.326000 10,032,600.00 33,600.00 1.879 344,010,000.00 342,206,347.50 99.055290 340,760,102.50 -1,446,245.00 3133EJP52 3133EFX44 3133EJ3L1 3133EFE86 3133EHFD0 1930: FFCB-Var-M A/360 3130AC4T8 3130AC6H2 3130A9FR7 3130A9FR7 3133EFV38 3133EJD48 3130AAE46 313378WG2 3130A0XD7 3130AFFA0 3130A9M40 313382AX1 3130A8DB6 3130AE6U9 3133EHB85 3133EJT74 3130A0XD7 3130ADPR7 3130ADR53 3133EGC94 3130AFCU9 3130A9EP2 3130ABVZ6 3130AFFB8 3130A8CK7 3130A8UH4 3130AFER4 3133EGNY7 3133EHWN9 3130AFMP9 3133EJEM7 3130A9FM8 3130AAE46 3133EF5D5 3.200 2.751 1.446 2.484 2.113 2.197 2.489 2.113 2.197 2.500 1.648 1.710 3.195 2.350 1.188 1.219 2.619 3.028 .044 2.553 1.997 2.082 2.121 .043 2.082 2.131 .043 .044 2.513 1.997 2.351 2.703 2.254 2.351 4.192 2.263 .466 .471 2.716 3.950 .446 .452 2.929 3.576 3.748 2.373 2.725 2.254 2.965 4.308 4.575 2.934 2.687 .724 .737 3.150 2.746 2.907 2.915 3.220 2.770 3.147 3.000 1.366 1.408 1.488 2.750 4.189 4.441 1.446 2.750 1.488 2.750 1.446 1.488 1.517 3.200 4.579 4.995 2.750 1.446 1.488 2.500 .617 .622 1.587 2.500 .617 .622 2.295 1.500 2.680 2.751 1.500 2.680 2.751 1.600 2.857 2.942 1.600 2.857 2.942 1.700 2.849 2.940 3.400 3.570 1.750 2.990 3.112 2.000 3.477 3.649 2.000 3.477 3.649 2.000 3.272 3.397 2.579 2.770 2.858 2.436 3.758 3.904 2.000 3.179 2.654 1.711 1.729 1.847 3.063 1.729 2.656 1.736 1.745 2.656 1.736 1.745 2.654 1.711 1.737 2.521 1.729 1.501 2.655 1.724 1.729 1.5012.521 2.622 .728 .748 2.620 .699 .718 2.621 .721 .740 1.250 .239 .241 1.420 1.302 1.323 1.110 .076 .077 1.320 1.617 1.649 1.350 1.691 1.726 1.340 1.752 1.786 1.380 1.803 1.520 1.025 1.047 1.841 1.770 1.890 1.937 1.400 .476 .479 1.710 1.133 1.159 1.550 1.573 1.611 1.400 .659 .658 1.410 .659 .658 1.760 1.778 1.822 1.511 1.200 1.219 1.667 .836 .849 2.365 2.884 3.036 4.279 2.501 2.080 2.167 2.474 2.031 2.121 3.990 2.721 3.991 4.279 4.258 2.747 2.262 2.359 3.160 4.003 3.330 3.552 4.167 2.922 2.722 3.095 4.360 4.756 3.838 3.166 3.060 3.911 2.757 1.440 1.482 2.877 1.909 1.9992.017 3.050 3.564 3.764 3133EHZN6 3133EH6X6 3130ABQV1 3130A9FU0 1900: FFCB-DISC NOTE 3133EHAJ2 3130AA5A2 3130ADG48 3130AE6U9 3130ADG48 3130A8R54 1767: FHLB-Var-M A/360 1770: FHLB-Var-Q A/360 3130AFMP9 3130ABZW9 3130AA2T4 3130AFLA3 3130A9DA6 3130AA2T4 3133EHJ95 3133EEZ60 3133EHWN9 3133EHP98 3133EGSA4 3130A9TV3 3130AA5Y0 3130A8NF6 313312MJ6 313312LX6 3133XTYY6 3130AFMP9 1760: FHLB-STEP%-Q 30/360 1765: FHLB-STEP%-S 30/360 3130A9DH1 3130AFMP9 1925: FFCB-Fxd-S 30/360 3133EGVK8 3133EGXX8 3133EJKN8 3133EJNS4 3133EGR49 3133EHRK1 3133EJCE7 3133EHUL5 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 1180 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss CUSIP Month End Portfolio Holdings Yield To Mat Modified Duration Years To Maturity FFCB 5Yr 10/10/2019 2.457 15,000,000.00 15,000,000.00 100.095000 15,014,250.00 14,250.00 FFCB 5Yr 10/10/2019 2.457 25,000,000.00 25,000,000.00 100.095000 25,023,750.00 23,750.00 FFCB 5Yr 10/10/2019 2.457 10,000,000.00 9,997,560.00 100.095000 10,009,500.00 11,940.00 FFCB 4Yr 04/01/2020 2.584 25,000,000.00 25,000,000.00 100.284000 25,071,000.00 71,000.00 FFCB 4Yr 04/13/2020 2.677 50,000,000.00 50,000,000.00 100.301000 50,150,500.00 150,500.00 FFCB 5Yr 05/25/2021 2.776 10,000,000.00 10,000,000.00 100.601000 10,060,100.00 60,100.00 FFCB 5Yr 05/25/2021 2.776 10,000,000.00 10,000,000.00 100.601000 10,060,100.00 60,100.00 FFCB 3Yr 10/11/2019 2.580 15,000,000.00 15,000,000.00 100.166000 15,024,900.00 24,900.00 FFCB 3Yr 10/24/2019 2.684 15,000,000.00 15,000,000.00 100.176000 15,026,400.00 26,400.00 FFCB 3Yr 11/14/2019 2.610 15,000,000.00 15,000,000.00 100.165000 15,024,750.00 24,750.00 FFCB 3Yr 11/14/2019 2.610 15,000,000.00 15,000,000.00 100.165000 15,024,750.00 24,750.00 FFCB 3.9Yr 01/18/2022 2.695 15,000,000.00 15,139,095.00 100.535000 15,080,250.00 -58,845.00 FFCB 5Yr 02/21/2023 2.549 15,000,000.00 15,000,000.00 99.951000 14,992,650.00 -7,350.00 FFCB 3.5Yr 10/04/2021 2.372 15,000,000.00 15,000,000.00 100.000000 15,000,000.00 0.00 FFCB 1.4Yr 05/26/2020 2.506 1,680,000.00 1,679,769.44 99.959000 1,679,311.20 -458.24 FFCB 1.4Yr 05/26/2020 2.506 1,710,000.00 1,709,765.32 99.959000 1,709,298.90 -466.42 FFCB 1.1Yr 02/21/2020 2.529 7,940,000.00 7,944,501.98 100.034000 7,942,699.60 -1,802.38 2.590 261,330,000.00 261,470,691.74 100.215899 261,894,209.70 423,517.96 FAMCA 2Yr 08/20/2019 1.440 5,000,000.00 4,999,800.00 99.314000 4,965,700.00 -34,100.00 FAMCA 2Yr 09/26/2019 1.420 10,000,000.00 10,000,000.00 99.152000 9,915,200.00 -84,800.00 FAMCA 1.4Yr 05/15/2019 1.810 10,000,000.00 10,000,000.00 99.777000 9,977,700.00 -22,300.00 FAMCA 1.5Yr 06/24/2019 1.860 20,000,000.00 20,000,000.00 99.749000 19,949,800.00 -50,200.00 FAMCA 2.08Yr 02/03/2020 1.970 15,000,000.00 15,000,000.00 99.575000 14,936,250.00 -63,750.00 FAMCA 1Yr 01/29/2019 1.900 25,000,000.00 25,000,000.00 99.981000 24,995,250.00 -4,750.00 FAMCA 1.58Yr 01/02/2020 2.530 20,000,000.00 20,000,000.00 100.184000 20,036,800.00 36,800.00 FAMCA 4.9Yr 06/30/2023 2.850 10,000,000.00 9,947,900.00 100.879000 10,087,900.00 140,000.00 FAMCA 2.91Yr 07/23/2021 2.840 10,000,000.00 9,993,300.00 100.744000 10,074,400.00 81,100.00 2.090 125,000,000.00 124,941,000.00 99.951200 124,939,000.00 -2,000.00 FAMCA 2.5 Yr 06/02/2020 2.489 25,000,000.00 25,063,500.00 100.229000 25,057,250.00 -6,250.00 FAMCA 3Yr 04/23/2021 2.556 25,000,000.00 25,000,000.00 100.082000 25,020,500.00 20,500.00 FAMCA 3Yr 05/10/2021 2.407 10,000,000.00 10,000,000.00 100.008000 10,000,800.00 800.00 2.503 60,000,000.00 60,063,500.00 100.130917 60,078,550.00 15,050.00 FAMCA 3Yr 03/19/2019 2.874 10,000,000.00 10,000,000.00 100.051000 10,005,100.00 5,100.00 FAMCA 3Yr 07/26/2019 2.648 15,000,000.00 15,000,000.00 100.171000 15,025,650.00 25,650.00 2.738 25,000,000.00 25,000,000.00 100.123000 25,030,750.00 30,750.00 TEXAS STATE 10/01/2019 1.497 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 HAWAII STATE 04/01/2019 1.380 4,990,000.00 4,990,000.00 100.000000 4,990,000.00 0.00 HAWAII STATE 04/01/2020 1.660 5,055,000.00 5,055,000.00 100.000000 5,055,000.00 0.00 RHODE ISLAND STATE 05/01/2020 1.625 2,660,000.00 2,670,719.80 100.403000 2,670,719.80 0.00 RHODE ISLAND STATE 05/01/2019 1.375 2,625,000.00 2,636,838.75 100.451000 2,636,838.75 0.00 GEORGIA STATE 07/01/2020 3.000 6,825,000.00 7,254,770.25 106.297000 7,254,770.25 0.00 GEORGIA STATE 07/01/2019 3.000 6,580,000.00 6,943,874.00 105.530000 6,943,874.00 0.00 ARKANSAS STATE 06/01/2019 2.000 13,470,000.00 13,837,192.20 102.726000 13,837,192.20 0.00 HAWAII STATE 10/01/2019 1.151 2,250,000.00 2,253,262.50 100.145000 2,253,262.50 0.00 HAWAII STATE 10/01/2020 1.370 2,250,000.00 2,254,320.00 100.192000 2,254,320.00 0.00 OREGON STATE 05/01/2019 1.450 1,830,000.00 1,829,981.70 99.999000 1,829,981.70 0.00 OREGON STATE 04/01/2019 1.440 1,750,000.00 1,749,982.50 99.999000 1,749,982.50 0.00 WASHINGTON STATE 08/01/2019 1.500 8,745,000.00 8,738,703.60 99.928000 8,738,703.60 0.00 STATE OF CALIFORNIA 04/01/2021 2.625 14,400,000.00 14,688,720.00 102.005000 14,688,720.00 0.00 ALAMEDA COUNTY G.O.08/01/2020 2.562 17,600,000.00 17,600,000.00 100.000000 17,600,000.00 0.00 RHODE ISLAND ST & PROV PLANT 04/01/2020 2.750 3,065,000.00 3,082,378.55 100.567000 3,082,378.55 0.00 RHODE ISLAND ST & PROV PLANT 04/01/2019 5.000 2,330,000.00 2,390,020.80 102.576000 2,390,020.80 0.00 RHODE ISLAND ST & PROV PLANT 04/01/2021 2.750 3,150,000.00 3,167,766.00 100.564000 3,167,766.00 0.00 STATE OF CALIFORNIA 04/01/2021 2.800 16,000,000.00 16,000,640.00 100.004000 16,000,640.00 0.00 STATE OF CALIFORNIA 04/01/2021 2.625 1,795,000.00 1,784,301.80 99.404000 1,784,301.80 0.00 STATE OF CALIFORNIA 04/01/2019 1.593 7,030,000.00 6,990,842.90 99.443000 6,990,842.90 0.00 STATE OF CALIFORNIA 04/01/2022 2.367 1,500,000.00 1,468,800.00 97.920000 1,468,800.00 0.00 CITY OF LOS ANGELES 09/01/2021 4.000 8,915,000.00 9,200,993.20 103.208000 9,200,993.20 0.00 WASHINGTON STATE 08/01/2019 2.630 10,085,000.00 10,085,000.00 100.000000 10,085,000.00 0.00 STATE OF CALIFORNIA 04/01/2022 2.367 17,695,000.00 17,256,340.95 97.521000 17,256,340.95 0.00 STATE OF CALIFORNIA 04/01/2022 2.367 25,000,000.00 24,275,250.00 97.101000 24,275,250.00 0.00 2.393 192,595,000.00 193,205,699.50 100.317090 193,205,699.50 0.00 DEXIA(GUARANTEE)01/18/2019 2.470 15,000,000.00 14,729,329.17 99.879583 14,981,937.50 252,608.33 NATL SEC CLEARING CORP 03/27/2019 2.500 40,000,000.00 39,255,555.56 99.374306 39,749,722.22 494,166.66 DEXIA (GUARANTEE)03/19/2019 2.500 25,000,000.00 24,574,652.78 99.433194 24,858,298.61 283,645.83 TOYOTA MOTOR CORP 02/26/2019 2.460 25,000,000.00 24,619,041.67 99.603333 24,900,833.33 281,791.66 NATL SEC CLEARING CORP 05/24/2019 2.450 50,000,000.00 49,084,652.78 98.891750 49,445,875.00 361,222.22 DEXIA (GUARANTEE)01/22/2019 2.320 40,000,000.00 39,626,222.22 99.851250 39,940,500.00 314,277.78 TOYOTA MOTOR CORP 03/04/2019 2.400 25,000,000.00 24,700,000.00 99.543611 24,885,902.78 185,902.78 TOYOTA MOTOR CORP 01/30/2019 2.380 13,000,000.00 12,890,850.56 99.794583 12,973,295.83 82,445.27 NATL SEC CLEARING CORP 06/24/2019 2.610 35,000,000.00 34,314,875.00 98.651500 34,528,025.00 213,150.00 APPLE 03/25/2019 2.400 25,000,000.00 24,713,333.33 99.389028 24,847,256.94 133,923.61 TOYOTA MOTOR CORP 01/03/2019 2.300 50,000,000.00 49,712,500.00 99.985833 49,992,916.67 280,416.67 NATL SEC CLEARING CORP 02/26/2019 2.420 25,000,000.00 24,793,291.67 99.603333 24,900,833.33 107,541.66 TOYOTA MOTOR CORP 01/25/2019 2.470 15,000,000.00 14,909,433.33 99.830000 14,974,500.00 65,066.67 TOYOTA MOTOR CORP 03/29/2019 2.610 25,000,000.00 24,726,312.50 99.359583 24,839,895.83 113,583.33 NATL SEC CLEARING CORP 01/16/2019 2.330 15,000,000.00 14,924,275.00 99.893750 14,984,062.50 59,787.50 APPLE 02/25/2019 2.390 50,000,000.00 49,608,305.56 99.610417 49,805,208.33 196,902.77 DEXIA (GUARANTEE)07/05/2019 2.790 50,000,000.00 49,066,125.00 98.520000 49,260,000.00 193,875.00 APPLE 01/14/2019 2.320 25,000,000.00 24,888,833.33 99.907917 24,976,979.17 88,145.84 NATL SEC CLEARING CORP 02/27/2019 2.420 25,000,000.00 24,811,777.78 99.596250 24,899,062.50 87,284.72 APPLE 01/23/2019 2.350 30,000,000.00 29,851,166.67 99.844167 29,953,250.00 102,083.33 CHEVRON 01/08/2019 2.310 64,871,000.00 64,621,246.65 99.950417 64,838,834.80 217,588.15 PROCTER & GAMBLE 01/07/2019 2.350 8,000,000.00 7,972,322.22 99.957500 7,996,600.00 24,277.78 PROCTER & GAMBLE 01/29/2019 2.420 25,000,000.00 24,884,041.67 99.801667 24,950,416.67 66,375.00 APPLE 02/27/2019 2.470 25,000,000.00 24,840,479.17 99.596250 24,899,062.50 58,583.33 CHEVRON 01/30/2019 2.390 45,000,000.00 44,808,800.00 99.794583 44,907,562.50 98,762.50 13063DAD0 93974D5L8 3133EGCE3 3133EGF67 3132X0AT8 3132X02Y6 3133EG4C6 419792JG2 76222RWT5 76222RWS7 882723A33 63763QQT7 03785EQR8 89233HN34 74271UNV8 89233HNR1 544351MM8 010878AL0 03785EPT5 3133EGYA7 3132X0U90 63763QSQ1 63763QNG8 2.440 2.342 2.498 13063DAD0 .0192.358 .022 .153 2.843 .495 89233HQV9 2.330 2.431 .078 .079 2.486 .155 .159 .062 .037 .080 .082 .038 2.438 .155 .159 .063 2.319 .021 .019 .1502.409 2.362 2.639 .235 .241 2.342 .043 .044 .510 .152 .156 2.485 .067 .068 2.428 .225 .230 2.313 .008 .008 2.400 .080 .082 2.662 .467 .479 .059 .060 2.429 .168 .173 25214PL50 .152 .156 2.496 .385 .395 2.547 .230 .236 2.543 .208 .214 2.515 .048 .049 3.080 3.252 3.290 3.077 2.252 .249 2.960 2.351 .246 2.919 1.643 1.720 3.252 2.630 2.850 2.155 3.082 .584.571 3.120 2.457 2.671 3.252 2.252 13063DAB4 13063DAD0 13063DAC2 1.216 2.253 .246 2.551 .249 2.451 1.252 2.252 2.799 2.155 2.486 2.158 1.285 2.374 2.400 2.457 .773 .775 2.457 .773 .775 .778 .775 2.584 1.325 1.252 2.776 2.374 2.400 2.677 1.275 .871 2.383 2.956 3.052 2.684 .810 .814 2.610 .865 .871 4.145 1.120 1.142 2.372 2.678 2.762 2.516 1.376 1.403 2.549 1.514 2.516 1.376 1.403 2.479 2.572 .737 1.810 .366 .370 1.442 .628 .636 1.420 .727 4.499 .475 .479 1.970 1.064 1.093 1.860 .079 2.562 2.103 1.023 1.067 .079 2.530 .984 1.005 2.964 4.193 2.312 2.407 2.299 2.359 2.317 1.402 1.422 2.432 1.906 1.949 2.648 2.874 .212 .214 2.738 .423 .426 .564 .567 1.520 1.311 1.334 1.380 .741 1.660 .751 1.110 .499 .416.414 .493 .249 1.220 .329 1.319 .247 1.718 1.753 1.541 .332 1.370 1.450 1.501 .751 .584 2.252 .575 .332 .249 1.450 2.425 1.252 1.101 2.562 1.526 1.586 2.011 2.165 1.227 .774 2.556 1.024 .247 1.497 2.864 .743 2.610 2.254 2.274 03785ENP5 89233HPS7 041042ZT2 68609BXK8 419792NE2 .329 1.441 1.900 1.495 2.580 .865 .773 3132X0C74 3132X0F97 3133EDXQ0 2.776 3.985 2.400 3132X0WK3 76222RWU2 3133EHAE3 3132X0A50 3133EJDG1 63763QPT8 3132X03B5 13063DGA0 16677KN82 74271UN71 63763QPS0 03785ENE0 3133EHKY8 3133EHKY8 3133EJJE0 63763QTQ0 68609BYC5 419792JH0 76222RUL4 93974DV39 419792NF9 3132X0ED9 25214PG98 16677KNW9 03785EPR9 25214PMS9 25214PJU8 3133EDXQ0 3133EF2Z9 3133EGCE3 3133EGZS7 3133EGF67 3133EDXQ0 3133EFT56 1950: FMAC-Fxd-S 30/360 1965: FMAC-Var-M A/360 1975: FMAC-Var-Q A/360 3132X0WY3 3132X0S77 3132X0C41 3132X04F5 3132X0EV9 2350: MUNIS-S 30/360 3020: COMMERCIAL PAPER 89233HQ49 89233HNW0 3733845L6 3733845K8 13063DAC2 76222RUM2 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 1281 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss CUSIP Month End Portfolio Holdings Yield To Mat Modified Duration Years To Maturity AMRY & AIR FORCE EXCHANGE 01/28/2019 2.470 3,500,000.00 3,485,351.53 99.808750 3,493,306.25 7,954.72 APPLE 02/11/2019 2.450 40,000,000.00 39,795,833.33 99.709583 39,883,833.33 88,000.00 PROCTER & GAMBEL 02/26/2019 2.500 12,800,000.00 12,720,888.89 99.603333 12,749,226.67 28,337.78 ARMY AR EXCHANGE 01/29/2019 2.470 26,000,000.00 25,891,182.78 99.801667 25,948,433.33 57,250.55 PROCTER & GAMBLE 02/27/2019 2.500 60,000,000.00 59,645,833.33 99.596250 59,757,750.00 111,916.67 PROCTER & GAMBLE 02/27/2019 2.500 50,000,000.00 49,704,861.11 99.596250 49,798,125.00 93,263.89 NATL SEC CLEARING CORP 06/03/2019 2.780 30,000,000.00 29,585,316.67 98.814250 29,644,275.00 58,958.33 CHEVRON 05/08/2019 2.600 15,000,000.00 14,835,333.33 99.015750 14,852,362.50 17,029.17 APPLE 06/03/2019 2.680 30,000,000.00 29,609,166.67 98.814250 29,644,275.00 35,108.33 CHEVRON 03/05/2019 2.430 15,000,000.00 14,914,950.00 99.536250 14,930,437.50 15,487.50 NATL SEC CLEARING CORP 09/06/2019 2.950 25,000,000.00 24,450,972.22 97.898889 24,474,722.22 23,750.00 PROCTER & GAMBEL 02/08/2019 2.500 55,000,000.00 54,782,291.67 99.730833 54,851,958.33 69,666.66 2.476 1,133,171,000.00 1,122,349,405.15 99.483620 1,127,319,537.14 4,970,131.99 MICROSOFT CORP 02/06/2020 1.850 6,350,000.00 6,297,739.50 99.274000 6,303,899.00 6,159.50 MICROSOFT CORP 02/06/2020 1.850 6,000,000.00 5,951,100.00 99.274000 5,956,440.00 5,340.00 MICROSOFT CORP 11/03/2020 2.000 25,000,000.00 24,649,750.00 98.886000 24,721,500.00 71,750.00 MICROSOFT CORP 02/06/2020 1.850 3,000,000.00 2,971,440.00 99.274000 2,978,220.00 6,780.00 APPLE 02/08/2019 1.550 22,840,000.00 22,684,688.00 99.891000 22,815,104.40 130,416.40 MICROSOFT CORP 02/06/2020 1.850 4,097,000.00 4,057,013.28 99.274000 4,067,255.78 10,242.50 MICROSOFT CORP 02/06/2020 1.850 8,000,000.00 7,920,160.00 99.274000 7,941,920.00 21,760.00 MICROSOFT CORP 08/08/2019 1.100 10,000,000.00 9,835,600.00 99.005000 9,900,500.00 64,900.00 MICROSOFT CORP 02/06/2020 1.850 16,000,000.00 15,832,480.00 99.274000 15,883,840.00 51,360.00 JOHNSON & JOHNSON 03/01/2021 1.650 12,000,000.00 11,663,160.00 97.448000 11,693,760.00 30,600.00 MICROSOFT CORP 02/06/2020 1.850 10,000,000.00 9,887,000.00 99.274000 9,927,400.00 40,400.00 JOHNSON & JOHNSON 03/01/2021 1.650 12,969,000.00 12,617,410.41 97.448000 12,638,031.12 20,620.71 MICROSOFT CORP 08/08/2019 1.100 14,772,000.00 14,527,818.84 99.005000 14,625,018.60 97,199.76 MICROSOFT CORP 08/08/2019 1.100 20,000,000.00 19,697,600.00 99.005000 19,801,000.00 103,400.00 MICROSOFT CORP 02/12/2020 1.850 16,880,000.00 16,654,820.80 99.149000 16,736,351.20 81,530.40 MICROSOFT CORP 08/08/2019 1.100 10,154,000.00 10,001,690.00 99.005000 10,052,967.70 51,277.70 APPLE 08/02/2019 1.100 12,500,000.00 12,339,000.00 99.006000 12,375,750.00 36,750.00 MICROSOFT CORP 08/08/2019 1.100 4,982,000.00 4,916,735.80 99.005000 4,932,429.10 15,693.30 CHEVRON CORP 05/16/2019 1.561 10,000,000.00 9,938,600.00 99.460000 9,946,000.00 7,400.00 WALMART 10/09/2019 1.750 25,000,000.00 24,752,750.00 99.298000 24,824,500.00 71,750.00 WALMART 10/09/2019 1.750 22,029,000.00 21,812,234.64 99.298000 21,874,356.42 62,121.78 APPLE 09/12/2019 1.500 12,803,000.00 12,662,038.97 99.122000 12,690,589.66 28,550.69 JOHNSON & JOHNSON 03/01/2021 1.650 10,295,000.00 9,955,059.10 97.448000 10,032,271.60 77,212.50 MICROSOFT CORP 11/03/2020 2.000 10,100,000.00 9,929,411.00 98.886000 9,987,486.00 58,075.00 1.605 305,771,000.00 301,555,300.34 98.997809 302,706,590.58 1,151,290.24 NORDEA BK 01/25/2019 2.450 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 TORONTO DOMINION 01/25/2019 2.510 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 NORDEA BK 02/08/2019 2.450 20,000,000.00 20,000,000.00 100.000000 20,000,000.00 0.00 SWEDBANK AB 02/08/2019 2.410 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 BANK OF AMERICA NA 02/11/2019 2.440 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 TORONTO DOMINION 02/13/2019 2.400 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 ROYAL BANK OF CANADA NY 06/07/2019 2.660 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 US BANK NA 06/11/2019 2.590 10,000,000.00 10,000,000.00 100.000000 10,000,000.00 0.00 ROYAL BANK OF CANADA NY 01/31/2019 2.370 20,000,000.00 20,000,000.00 100.000000 20,000,000.00 0.00 US BANK NA 01/22/2019 2.330 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 ROYAL BANK OF CANADA NY 06/21/2019 2.710 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 BANK OF AMERICA NA 05/01/2019 2.620 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 US BANK NA 05/31/2019 2.580 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 TORONTO DOMINION 01/02/2019 2.380 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 NORDEA BK 01/16/2019 2.420 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 WELLS FARGO NA 05/13/2019 2.720 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 WELLS FARGO CD 06/28/2019 2.820 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 US BANK NA 06/21/2019 2.830 40,000,000.00 40,000,000.00 100.000000 40,000,000.00 0.00 US BANK NA 01/22/2019 2.440 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 US BANK NA 01/25/2019 2.450 15,000,000.00 15,000,000.00 100.000000 15,000,000.00 0.00 TORONTO DOMINION 08/16/2019 3.000 35,000,000.00 35,000,000.00 100.000000 35,000,000.00 0.00 ROYAL BANK OF CANADA NY 06/28/2019 2.910 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 TORONTO DOMINION 05/31/2019 2.860 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 US BANK NA 03/06/2019 2.670 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 TORONTO DOMINION 03/06/2019 2.730 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 TORONTO DOMINION 03/12/2019 2.750 15,000,000.00 15,000,000.00 100.000000 15,000,000.00 0.00 ROYAL BANK OF CANADA NY 03/11/2019 2.480 15,000,000.00 14,988,904.63 99.926031 14,988,904.63 0.00 2.592 775,000,000.00 774,988,904.63 99.998568 774,988,904.63 0.00 WELLS FARGO 01/07/2019 2.609 56,000,000.00 56,009,296.00 100.016600 56,009,296.00 0.00 2.609 56,000,000.00 56,009,296.00 100.016600 56,009,296.00 0.00 2.131 7,534,612,023.98 7,504,164,940.07 99.418868 7,490,825,981.43 -13,338,958.64 2.131 7,534,612,023.98 7,504,164,940.07 99.418868 7,490,825,981.43 -13,338,958.64 2.167 594918BV5 594918BN3 594918BG8 1.085 1.118 2.494 .593 594918BV5 594918BV5 594918BV5 478160BS2 2.646 594918BV5 2.388 2.414 2.354 63763QT31 16677KS87 594918BV5 .189 1.101 3130: CORP-Fxd-S 30/360 74271UP87 1.071 2.625 2.098 594918BN3 2.098 2.510 .104 2.281 594918BV5 594918BG8 1.101 2.277 3.016 .662 .682 1.101 1.786 1.071 1.071 2.629 .341 .107 16677KQ55 63763QW60 .155 4500: NCD-Mat A/360 03785ET38 478160BS2 65590AWG7 594918AY0 74271UPT1 .0592.330 .104 2.590 2.543 037833CB4 .171 .075 .077 .184 74271UPT1 2.500 .410 .422 .155 2.515 .077 .156 .112 .422 .159 .159 2.480 .079 2.515 2.516 2.463 .152 .115 1.101 .106 .107 2.373 1.071 1.101 2.288 .603.593 1.101 2.819 .410 .351 2.715 1.844 .175 1.071 2.480 .603 1.070 1.101 2.444 2.273 1.071 2.167 2.469 .603 .603 2.481 .593 .603 2.400 .593 .373 2.838 2.824 .757 .773 2.570 .576 .586 2.568 .592 1.023 2.912 .757 .773 3.149 2.092 2.167 .107 2.510 .067 .068 2.450 .104 .107 .432 .444 .112 .115 2.400 .118 .121 2.660 .421 .433 2.440 931142DY6 2.691 594918BN3 2.410 04249LNV4 037833CE8 74271UPS3 2.420 594918BN3 .044 .3322.620 .323 78012UHD0 .043 .354 .364 94989RZ50 2.820 .477 .490 2.720 .458 .471 2.440 .059 .060 2.830 .067 .068 3.000 .606 .625 90333VA91 2.450 03785EPB4 04249LNU6 594918BN3 166764BH2 931142DY6 037833CZ1 2.823 .684 2.570 .368 .699 478160BS2 65590AVR4 2.450 .067 .068 1.783 1.844 2.579 .996 89113XM27 87019VHX8 06052TB82 89114MDZ7 90333VYZ7 78012UHS7 2.370 .083 .085 90333VZA1 .060 78012UHZ1 2.710 .458 .471 06052TC32 90333VZC7 2.580 .403 .414 89114MHB6 2.380 .005 .005 65590AXW1 94989RY28 90333VZR4 90333VZZ6 89114MMK0 78012UJY2 2.910 .476 .490 89114MMT1 2.860 .402 .414 90333VE89 2.670 .173 .178 89114MPN1 2.730 .173 .178 89114MQH3 2.750 .189 .195 78012UGY5 2.770 .186 .192 2.598 .242 .248 4541: NCD-VAR-M A/360 94989RQ43 2.427 .019 .019 2.427 .019 .019 Grand Total 2.270 .972 1.004 Total Fund 2.270 .972 1.004 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 1382 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR The Mission Inn, Downtown Riverside. Digital Image. The Mission Inn. http://www.missioninn.com/about-en.html. 83 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR CAPITAL MARKETS COUNTY ADMINISTRATIVE CENTER 4080 LEMON STREET, 4TH FLOOR, RIVERSIDE, CA 92502-2205 WWW.COUNTYTREASURER.ORG 84 AGENDA ITEM 8 Agenda Item 8 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Michele Cisneros, Deputy Director of Finance THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Fiscal Year 2018/19 Mid-Year Budget Adjustments STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve an increase of $10.5 million in Fiscal Year 2018/19 expenditures for mid-year budget adjustments; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: Staff performed a review of expenditures for the six months ended December 31, 2018, and an estimate of expenditures for the remaining six months of the fiscal year ending June 30, 2019. As a result of the review, the following mid-year budget adjustments are proposed: Expenditure Adjustment 1 – $10.2 Million The original FY 2018/19 budget did not include budget authority for right of way and construction for the Temescal Canyon widening project, a 2009 Measure A-funded regional arterial project led by the Riverside County Transportation Department. Adequate 2009 Measure A Western County regional arterial fund balance is available to accommodate this budget adjustment to increase right of way and construction expenditures by $4.7 million and $5.5 million respectively. Expenditure Adjustment 2 – $300,000 The FY 2018/19 budget includes $3.7 million for transit operating expenditures in the 2009 Measure A Western County transit fund. Staff has recommended a $300,000 increase in the FY 2018/19 transit operating expenditures for the Riverside Transit Agency / Orange County Transportation Authority intercity Route 794 for a total transit operating budget of $4 million. Adequate 2009 Measure A Western County transit fund balance is available to accommodate this budget adjustment. 85 Agenda Item 8 Financial Information In Fiscal Year Budget: No Year: FY 2018/19 Amount: $10,500,000 Source of Funds: 2009 Measure A Western County Regional Arterial funds, 2009 Measure A Western County Transit funds Budget Adjustment: Yes GL/Project Accounting No.: 005207 81401 00000 0000 266 72 81401 $4,700,000 005207 81301 00000 0000 266 72 81301 $5,500,000 269 62 86101 $ 300,000 Fiscal Procedures Approved: Date: 02/07/2019 86 AGENDA ITEM 9 Agenda Item 9 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Theresia Trevino, Chief Financial Officer THROUGH: John Standiford, Deputy Executive Director SUBJECT: Investment Policy Revision STAFF RECOMMENDATION: This item is for the Committee to: 1) Adopt Resolution No. 19-004, “Resolution of the Riverside County Transportation Commission Regarding the Revised Investment Policy”; 2) Adopt the revised annual Investment Policy; and 3) Forward to the Commission for final action. BACKGROUND INFORMATION: At its December 2018 meeting, the Commission adopted revisions to the annual Investment Policy. Subsequently staff determined that proposed changes to permitted U.S. corporate debt investments in the prior staff report or revised Investment Policy were not correct. The prior staff report recommended the following changes: • Change in minimum credit quality for U.S. corporate debt from “Aa3/AA-/ or AA-“ to “A1/A+/or A+”; and • Change maximum percentage of holdings in U.S. corporate debt (from 25 percent to 30 percent). The revisions reflected on the Investment Policy attachment in December included the change in the maximum percentage of holdings and not the change in minimum credit quality. Following consultation with its financial advisor and the County Treasurer’s Office prior to the December 2018 Commission meeting, staff’s intent was only to change the minimum credit quality for U.S. corporate debt and not to increase the maximum percentage of holdings in U.S. corporate debt at the same time. A revised Investment Policy is attached and reflects the minimum credit quality for U.S. corporate debt of “A1/A+/ or A+” and maximum percentage of holdings in U.S. corporate debt of 25 percent. 87 Agenda Item 9 The principle underlying these proposed changes is increased flexibility for staff to enhance the return on investments without material sacrifice in safety or liquidity. Safety and liquidity are maintained by continuing to require stringent credit and rating standards and by maintaining diversification through the application of prudent limitations in the amount of any single investment type. As noted in the December 2018 staff report, the California Government Code permits investment in U.S. corporate debt securities rated at least “A3/A-/A-“. The Commission has required ratings of at least “Aa3/AA-/AA-“, and staff proposes lowering the requirement one notch to “A1/A+/A+”. Staff believes that this revised recommendation continues to adhere to the Commission’s investment objectives, in priority order, of safety, liquidity, and return on investment. Attachments: 1) Resolution No. 19-004 2) Investment Policy (draft) 88 ATTACHMENT 1 RESOLUTION NO. 19-004 RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION REGARDING THE REVISED INVESTMENT POLICY WHEREAS, the Riverside County Transportation Commission (the “Commission”) currently retains the authority to add, delete or otherwise modify the Commission’s policies and procedures. NOW, THEREFORE, the Riverside County Transportation Commission does hereby resolve as follows: Section 1. The Riverside County Transportation Commission hereby adopts the Investment Policy, as revised on March 13, 2019, and attached as Exhibit A. APPROVED AND ADOPTED this 13th day of March, 2019. _____________________________________ Chuck Washington, Chair Riverside County Transportation Commission ATTEST: _________________________________ Lisa Mobley Clerk of the Board 89 Revised December 12March 13, 20189 INVESTMENT POLICY I. Introduction The purpose of this document is to identify policies and procedures that enhance opportunities for a prudent investment program and to organize and formalize investment-related activities. II.Scope It is intended that this Policy cover all funds (except retirement funds) and investment activities under the direction of the Commission. Investment activities may be classified between operating and bond/debt portfolios. III.Delegation of Authority Pursuant to the Commission’s Administrative Code, the Board’s management responsibility for the investment program is hereby delegated for a one-year period to the Executive Director who shall monitor and review all investments for consistency with this investment policy. Subject to review, the Board may renew the delegation of authority pursuant to this section each year. The Executive Director may delegate these duties to a designee (“Chief Financial Officer”). The Commission may delegate its investment decision making and execution authority to an investment advisor. The advisor shall follow this Policy and such other written instructions as are provided. IV.Prudence All persons authorized to make investment decisions on behalf of the Commission are subject to the prudent investor standard. Investments shall be made with care, skill, prudence and diligence under circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the Commission that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the Commission. Authorized individuals acting in accordance with this Policy and written procedures and exercising due diligence shall be relieved of personal responsibility for an individual security’s credit risk or market price changes, provided deviations from expectations are reported in a timely fashion. ATTACHMENT 2 90 Revised December 12March 13, 20189 V. Objective The Commission’s primary investment objectives, in priority order, shall be: 1. Safety. Safety of principal is the foremost objective of the investment program. Investments of the Commission shall be undertaken in a manner that seeks to ensure preservation of capital in the portfolio. 2. Liquidity. The investment portfolio of the Commission will remain sufficiently liquid to enable the Commission to meet its cash flow requirements. 3. Return on Investment. The investment portfolio of the Commission shall be designed with the objective of maximizing return on its investments, but only after ensuring safety and liquidity. The Commission may from time to time sell securities that it owns in order to better reposition its portfolio assets in accordance with updated cash flow schedules, yield opportunities existing between market sectors, or simply market timing. VI. Investments California Government Code Section 53601 governs the investments permitted for purchase by the Commission. Within the investments permitted by Code, the Commission seeks to further restrict eligible investments to the investments listed in Section VI.1 below. Percentage limitations, where indicated, apply at the time of purchase. Percentage holdings with any one non-U.S. Government issuer or non-Federal Agency issuer are further restricted to a maximum of 10% (direct and indirect commitments), except as otherwise noted. Rating requirements where indicated, apply at the time of purchase. In the event a security held by the Commission is subject to a rating change that brings it below the minimum specified rating requirement, the Chief Financial Officer shall be authorized to act immediately and to notify the Board of any actions taken in regards to the security. The course of action to be followed will then be decided on a case-by-case basis, considering such factors as the reason for the rate drop, prognosis for recovery or further rate drops, and the market price of the security. 1. Eligible Investments A. U.S. Government Issues. United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the faith and credit of the United States are pledged for the payment of principal and interest. 91 Revised December 12March 13, 20189 B. Federal Agency Securities. Federal agency or United States government-sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government-sponsored enterprises. C. Supranational Obligations. Obligations issued, or unconditionally guaranteed, by the following supranational institutions: 1. International Bank for Reconstruction and Development; and 2. International Finance Corporation. Such securities must have a maximum maturity of four (4) years and ratings from at least one Nationally Recognized Statistical Rating Organization (NRSRO) as follows: at least “Aa/AA/or AA” which denotes “Aa2” by Moody’s Investors Service (Moody’s), or “AA” by S&P Global Ratings (S&P), or “AA” by Fitch Ratings (Fitch); or as otherwise approved by the Commission. Investments in supranational obligations are limited to a maximum of 20% of Commission funds with no more than 10% of funds invested in any one supranational institution. D. Municipal Bonds. Registered treasury notes or bonds of any of the other 49 United States, in addition to California, payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state or by a department, board, agency or authority of any of the other 49 United States, in addition to California. Such securities must have a maximum maturity of five (5) years and ratings from at least one NRSRO as follows: at least “A1/A+/or A+”; or as otherwise approved by the Commission. Registered general obligation treasury notes or bonds of any of the 50 United States. Such securities must have a maximum maturity of five (5) years and ratings from at least one NRSRO as follows: at least “A1/A+/or A+” or as otherwise approved by the Commission. Taxable or tax-exempt bonds, notes, warrants, or other evidences of indebtedness of any local agency within the State of California with a maximum maturity of five (5) years and ratings from at least one NRSRO as follows: at least “A1/A+/or A+” (the minimum rating shall apply to the local agency, irrespective of any credit enhancement), including bonds, notes, warrants, or other evidences of indebtedness payable solely out of the revenues from a revenue-producing 92 Revised December 12March 13, 20189 property owned, controlled, or operated by either the local agency, a department, board, agency, or authority of the local agency, or of any local agency within this state. Investments in municipal bonds are further limited to 25% of the Commission’s funds. E. Tri-Party Repurchase Agreements. Tri-party repurchase agreements are to be used solely as short-term investments not to exceed 30 days. The Commission may enter into tri-party repurchase agreements with primary government securities dealers rated “A” or better by two NRSROs. Counterparties should also have (i) a short-term credit rating of at least P-1/A-1/ or F-1; (ii) minimum assets and capital size of $25 billion in assets and $350 million in capital; (iii) five years of acceptable audited financial results; and (iv) a strong reputation among market participants. The following collateral restrictions will be observed: Only U.S. Treasury securities or Federal Agency securities, as described in V.1 A and B, will be acceptable collateral. All securities underlying tri- party repurchase agreements must be delivered to the Commission's custodian or fiscal agent bank versus payment or be handled under a properly executed tri-party repurchase agreement. The total market value of all collateral for each tri-party repurchase agreement must equal or exceed 102% of the total dollar value of the money invested by the Commission for the term of the investment. For any tri-party repurchase agreement with a term of more than one day, the value of the underlying securities must be reviewed on an on-going basis according to market conditions. Market value must be calculated each time there is a substitution of collateral. The Commission or its trustee shall have a perfected first security interest under the Uniform Commercial Code in all securities subject to tri-party repurchase agreement. The Commission shall have properly executed a PSA agreement with each counterparty with which it enters into tri-party repurchase agreements. F. U.S. Corporate Debt. Medium-term notes, defined as all corporate and depository institution securities with a maximum remaining maturity of five (5) years or less, issued by corporations organized and operating within the United States or depository institutions licensed by the United States or any state and operating within the United States. Eligible investment shall be rated at least “Aa3/AA- /or AA-A1/A+/ or A+” by at least one NRSRO. Investments in U.S. Corporate Debt are further limited to 3025% of the Commission’s funds. 93 Revised December 12March 13, 20189 G. Commercial Paper. Commercial paper rated in the highest category by one or more nationally recognized statistical rating organization (NRSRO). The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (1) or paragraph (2): (1) The entity meets the following criteria: (A) Is organized and operating in the United States as a general corporation. (B) Has total assets in excess of five hundred million dollars ($500,000,000). (C) Has debt other than commercial paper, if any, that is rated “A” or higher by at least one NRSRO. (2) The entity meets the following criteria: (A) Is organized within the United States as a special purpose corporation, trust, or limited liability company. (B) Has program-wide credit enhancements, including, but not limited to, over collateralization, letters of credit, or surety bond. (C) Has commercial paper that is rated at least “P-1/A-1/or F-1”, or the equivalent, by at least one NRSRO. Purchases of eligible commercial paper may not exceed 270 days maturity nor represent more than 10% of the outstanding paper of an issuing corporation. Investments in commercial paper are limited to a maximum of 25% of the Commission’s funds. H. Banker’s Acceptances. Banker's acceptances issued by domestic or foreign banks, which are eligible for purchase by the Federal Reserve System. Purchases of banker’s acceptances may not exceed 180 days maturity. Eligible banker’s acceptances are restricted to issuing financial institutions with short-term paper rated in the highest category by one or more nationally recognized rating service. Investments in banker’s acceptances are further limited to 40% of the Commission’s funds with no more than 30% of the Commission’s funds invested in the banker’s acceptances of any one commercial bank. I. Money Market Mutual Funds. Shares of beneficial interest issued by diversified management companies that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1, et seq.) and that invest solely in U.S. treasuries, obligations of the U.S. Treasury, and repurchase agreements relating to such treasury obligations. The Commission may invest in shares of beneficial interest issued by accompany shall have met either of the following criteria: (1) Attained the highest ranking or the highest letter and numerical rating 94 Revised December 12March 13, 20189 provided by not less than two nationally recognized rating services. (2) Retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience managing money market mutual funds with assets under management in excess of five hundred million dollars ($500,000,000). The purchase price of shares of beneficial interest purchased pursuant to this subdivision shall not include any commission that the companies may charge. Investments in Money Market Mutual Funds are further limited to 20% of the Commission’s funds. J. Riverside County Pooled Investment Fund (“RCPIF”). The Commission may invest in the Riverside County Pooled Investment Fund. As on-going due diligence, the Chief Financial Officer shall obtain the information listed below: • A description of eligible investment securities and a written statement of investment policy. • A description of the interest calculation, the frequency of interest distributions, and the treatment of gains and losses in the portfolio. • A description of how often the securities are priced, how the securities are safeguarded, and the audit arrangements. • A description of who may invest in the program, how often they may invest, and what size deposits and withdrawals are allowed. • A schedule for receiving statements and portfolio listings. • A fee schedule, and when and how fees are assessed. • The composition of the investment fund for each reporting period. K. State of California Local Agency Investment Fund (“LAIF”). The Commission may invest in LAIF. As on-going due diligence, the Chief Financial Officer shall obtain the information listed below: • A description of eligible investment securities and a written statement of investment policy. • A description of the interest calculation, the frequency of interest distributions, and the treatment of gains and losses in the portfolio. • A description of how often the securities are priced, how the securities are safeguarded, and the audit arrangements. • A description of who may invest in the program, how often they may invest, and what size deposits and withdrawals are allowed. • A schedule for receiving statements and portfolio listings. 95 Revised December 12March 13, 20189 • A fee schedule, and when and how fees are assessed. • The composition of the investment fund for each reporting period. L. Certificates of Deposit. Negotiable Certificates of Deposit (NCD’s): NCDs are money market instruments issued by a bank. They specify that a sum of money has been deposited, payable with interest to the bearer of the certificates on a certain date. NCDs are issued by nationally or state chartered bank or state or federal savings and loan association. All purchases must be from institutions rated the highest letter and number rating (e.g., P-1/A-1/or F-1) as provided for by at least one NRSRO, as designated by the U.S. Securities and Exchange Commission. The maturity of NCDs shall not exceed one (1) year to maturity, and purchases of NCDs shall not exceed 30% of the Commission’s investment portfolio. NCDs shall be evaluated in terms of the credit worthiness of the issuing institution, as these deposits are uninsured and uncollateralized promissory notes. FDIC-insured Certificates of Deposit: The principal amount of the investment must be federally insured through the Federal Deposit Insurance Corporation (FDIC). No more than the prevailing FDIC insured coverage amount may be invested with any one deposit. Certificates of Deposit placed through the Certificate of Deposit Account Registry Service (CDARS) shall be considered fully insured, assuming that the total amount invested with any participating bank is limited to the prevailing FDIC insured coverage amount. Interest on the principal must be paid to the Commission at least annually. The placement of Certificates of Deposit with local banks that qualify in accordance with Government Code section 53601(h) is encouraged. The Commission, at its discretion, may invest a portion of its funds in certificates of deposit at a commercial bank, savings bank, savings and loan association, or credit union using a private sector entity to assist in the placement of such certificates, provided that it complies with Government Code Section 53601.8. Such investments may not exceed in total 20% of the Commission’s funds invested pursuant to Government Code Sections 53601.8, 53635.8 and 53601, and shall have a maximum maturity of one (1) year from the date of the deposit. Collateralized Certificates of Deposit: For investments exceeding $100,000, there will be a waiver of collateral for the first $100,000 deposited and protected by FDIC insurance. The remainder of the deposit shall be fully collateralized by U.S. Treasury and Federal Agency securities having maturities less than five years. The District must receive written confirmation that these securities have been pledged in repayment of the time deposit. The securities pledged as 96 Revised December 12March 13, 20189 collateral must have a current market value greater than the dollar amount of the deposit in keeping with the ratio requirements specified in Section 53652 of the Government Code. Additionally, a statement of the collateral shall be provided to the Commission on a monthly basis. Such investments may not exceed in total 15% of the Commission’s funds invested pursuant to Government Code Sections 53601.8, 53635.8 and 53601, and shall have a maximum maturity of one (1) year from the date of the deposit. M. Time Deposits. Federal Deposit Insurance Corporation insured money market savings accounts or time deposits which are deposited through depository institutions which are participants of the Money Market Insured Deposit Account Service (“MMIDAS”). N. Mortgage and Asset-backed Securities. Any mortgage pass- through security, collateralized mortgage obligation, mortgage- backed or other pay-through bond, equipment lease-backed certificate, consumer receivable-backed bond of a maximum maturity of five (5) years. Securities eligible for investment under this subdivision shall be issued by an issuer and rated at least “A3/A-/or A-” for the issuer’s debt as provided by at least one NRSRO and rated in the rating category of “AAA” or its equivalent (excluding U.S. Government/Agency-backed structured products which will be permitted with their prevailing ratings even if those ratings are below the rating category of “AAA”) by at least one NRSRO. Purchase of these securities may not exceed 10% of the Commission’s operating investment portfolio. 2. Eligible Investments for Bond Proceeds Bond proceeds shall be invested in securities permitted by the applicable bond documents. If the bond documents are silent as to permitted investments, bond proceeds will be invested in securities permitted by this Policy. With respect to maximum maturities, the Policy authorizes investing bond reserve fund proceeds beyond the five (5) years if prudent in the opinion of the Chief Financial Officer. 3. Ineligible Investments As provided in California Government Code Section 53601.6, the Commission shall not invest any funds in inverse floaters, range notes, 97 Revised December 12March 13, 20189 mortgage derived interest-only strips or in any security that could result in zero interest accrual if held to maturity. The purchase of any security not listed in Section VI.1 above, but permitted by the California Government Code, is prohibited unless the Board approves the investment either specifically or as a part of an investment program approved by the Board. VII. Maximum Maturities Maturities of investments will be selected to provide necessary liquidity, minimize interest rate risk, and maximize earnings. Current and expected yield curve analysis will be monitored and the portfolio will be invested accordingly. Because of inherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds. Where this Policy does not specify a maximum remaining maturity at the time of the investment, no investment shall be made in any security, other than a security underlying a repurchase or reverse repurchase agreement authorized by this section, that at the time of the investment has a term remaining to maturity in excess of five (5) years. VIII. Performance Standards The Chief Financial Officer shall continually monitor and evaluate the portfolio’s performance. IX. Reporting The Chief Financial Officer shall prepare and provide to the Board and the Executive Director, within 60 days following the end of the quarter, a portfolio report, which includes the following information: • Type of investment • Name of issuer • Date of maturity • Date of purchase • Par value • Original purchase cost • Call date (if applicable) • Current market value of securities • Unrealized market value gain/loss • Coupon rate, if applicable • Yield to maturity • Credit quality, as determined by one or more NRSROs, of each investment 98 Revised December 12March 13, 20189 • Average duration of portfolio • Listing of all investment transactions during the quarter • A statement that the portfolio complies with the investment policy, or the manner in which the portfolio is not in compliance • A statement denoting the ability of the Commission to meet its liquidity requirements for the next six months, or provide an explanation as to why sufficient money shall, or may not be, available. X. Investment Procedures The Chief Financial Officer, as the Board’s designee, is responsible for ensuring compliance with the Commission’s investment policies and establishing written procedures and internal controls for the operation of the investment program. No person may engage in investment transactions except as provided under the terms of this Policy and the written procedures established by the Chief Financial Officer. The written procedures should address: delegation of authority to subordinate staff members, control of collusion, separation of transaction authority from accounting and record keeping, written confirmations of transactions, reconciliation of custody statements, and wire transfer procedures and agreements. An independent analysis by an external auditor shall be conducted annually to review internal control, account activity, and compliance with policies and procedures. XI. Authorized Broker Dealers and Financial Institutions The Chief Financial Officer shall maintain a list of authorized broker/dealers and financial institutions which are approved for investment purposes. It shall be the Commission’s policy to purchase securities only from those authorized institutions and firms. Separate lists shall be maintained for broker/dealers and financial institutions approved for repurchase agreements and those approved for the purchase of other securities. If an investment advisor is used, they may use their own list of approved broker/dealers and financial institutions for investment purposes. To be eligible, a firm must meet the following minimum criteria: (i) an institution licensed by the state as a broker-dealer, or from a member of a federally regulated securities exchange, from a national or state-chartered bank, from a federal or state association or from a brokerage firm designated as a primary government dealer by the Federal Reserve bank; and (ii) all broker/dealer firms and individuals must be properly registered with the NASD and/or SEC to transact business in the relevant geographic locations and product sectors. In addition, counterparties for Repurchase Agreements shall be limited to primary government securities dealers rated “A” or better by two NRSROs. Counterparties shall also have (i) a short-term credit rating of at least P-1/A-1/or F-1; (ii) minimum assets and capital size of $25 billion in assets and $350 million in capital; (iii) five years of acceptable audited financial results; and (iv) a strong reputation among market participants. 99 Revised December 12March 13, 20189 The Chief Financial Officer shall select broker/dealers and other financial institutions on the basis of the firm’s expertise and credit worthiness. The Commission shall annually send a copy of the current investment policy to all dealers approved to do business with the Commission. Each broker/dealer or financial institution that has been authorized by the Commission shall be required to submit and annually update a Broker/Dealer Questionnaire which includes the firm’s most recent financial statements. The Chief Financial Officer shall maintain a file for each firm approved for investment purposes, which includes the most recent Broker/Dealer Questionnaire. XII. Safekeeping and Custody To protect the Commission’s assets, all securities owned by the Commission shall be held in safekeeping in the Commission’s name by a third party bank trust department, acting as agent for the Commission under the terms of a custody agreement executed by the bank and the Commission. All securities will be received and delivered using standard delivery versus payment (DVP) procedures; the Commission's safekeeping agent will only release payment for a security after the security has been properly delivered. Physical delivery securities shall be avoided whenever possible, as book entry securities are much easier to transfer and account for since actual delivery of a document never takes place. In addition, delivered securities must be properly safeguarded against loss or destruction. The potential for fraud and loss increases with physically delivered securities. XIII. Ethics and Conflicts of Interest The Commission adopts the following policy concerning conflicts of interest: 1. Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program or which could impair their ability to make impartial investment decisions. 2. Officers and employees involved in the investment process shall disclose any material financial interest in any financial institution that conducts business with the Commission, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the Commission’s portfolio. 3. Officers shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the Commission. 100 Revised December 12March 13, 20189 XIV. Investment Policy Review The Chief Financial Officer shall annually render to the Board a statement of investment policy, which the Board must consider at a public meeting. Any changes to the policy shall also be considered by the Board at a public meeting. 101 AGENDA ITEM 10 Agenda Item 10 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Theresia Trevino, Chief Financial Officer THROUGH: John Standiford, Deputy Executive Director SUBJECT: Proposed Policy Goals and Objectives for Fiscal Year 2019/20 Budget STAFF RECOMMENDATION: This item is for the Committee to: 1) Review and approve the proposed Commission Policy Goals and Objectives for the Fiscal Year 2019/20 Budget; 2) Review and approve the Fiscal Accountability Policies for the FY 2019/20 Budget; and 3) Forward to the Commission for final action. BACKGROUND INFORMATION: The initial step in the budget process is to develop policy goals and objectives for the next fiscal year that are consistent with the Commission’s overall strategic direction. Most importantly, the adoption of the Commission Policy Goals and Objectives and Fiscal Accountability Policies for the annual fiscal year budget provides an opportunity to match the Commission’s spending priorities in a manner that implements the promises made to the citizens of the county of Riverside in the Measure A Expenditure Plan and fulfills other Commission responsibilities. The Commission is driven by four core objectives for the people of Riverside County and the transportation system upon, which they rely: • Quality of life; • Operational excellence; • Connecting the economy; and • Responsible partner. Additionally, the fiscal accountability policies that promote fiduciary responsibility and organizational excellence are summarized in six categories: • Financial planning; • Revenues; • Expenditures/expenses; • Debt management; 102 Agenda Item 10 • Cash management; and • Accounting and financial reporting. The Commission Policy Goals and Objectives will be linked to the individual department goals and objectives included in the FY 2019/20 Budget, and the Fiscal Accountability Policies will guide the development and monitoring of the FY 2019/20 Budget. Attachment: Proposed Commission Policy Goals and Objectives and Fiscal Accountability Policies for FY 2019/20 103 Policy Goals and Objectives As approved at its March 13, 2019 meeting, the Commission is driven by four core goals and underlying objectives for the people of Riverside County and the transportation system upon which they rely: QUALITY OF LIFE RCTC is focused on improving life for the people of Riverside County and empowering them to live life at their pace. Choice RCTC empowers the residents of Riverside County to choose how to get safely to where they are going. Environmental Stewardship RCTC protects and preserves the County’s environment for our residents. Mobility RCTC provides access, equity, and choice in transportation; RCTC is a mobility partner. Access RCTC projects are the connection to employment, schools, community institutions, parks, medical facilities and shopping in the community. Goods Movement RCTC facilitates the funding and delivery of projects that mitigate the impact of increased goods movement flow through Riverside County. OPERATIONAL EXCELLENCE RCTC is a responsible and conservative steward of taxpayer dollars. State of Good Repair RCTC invests in road safety and maintenance in its residents’ neighborhoods. Promises Fulfilled Projects are completed on-time, on-budget; RCTC delivers on its promises as a steward of Riverside County residents’ investment. Innovation Program and project delivery innovations drive results, savings, and greater economic opportunities for Riverside County residents. Information RCTC operations are transparent; customers get fast, timely, quality service. CONNECTING THE ECONOMY RCTC is a driver of economic growth in Riverside County. Workforce Mobility RCTC improves the economy by creating a robust workforce to workplace system; RCTC helps move the economy of Riverside County. Population Growth Since 1976, RCTC has been responsible for connecting our County’s economy as the County’s population has quadrupled from 550,000 to 2.4 million today. Economic Impact RCTC has invested almost $4 billion in the County’s economy thanks to Measure A and future toll revenues, which has a multiplier impact in terms of jobs and economic opportunity throughout Riverside County. ATTACHMENT 1 104 RESPONSIBLE PARTNER RCTC partners with local, regional, and state governments to deliver road and transit projects. Streets and Roads RCTC invests in local priorities for maintaining streets and roads and fixing potholes. Transit RCTC is a partner with transit operators to provide residents mobility choices, flexibility, intercity and intercounty connectivity, and access. Active Transportation Facilities RCTC is a partner with agencies within the County to promote active transportation alternatives, including the building of regional trails and bicycle and pedestrian facilities in accordance with local general master and active transportation plans. Grants RCTC is a steward of state and federal grants to improve our communities. Local Measure A Value RCTC invests Measure A dollars into projects and programs that benefit local communities throughout the County. Staff used these core goals and objectives to prepare this budget and develop the following short- term objectives to guide further the development of the FY 2019/20 budget. Capital Project Development and Delivery • Continue design and construction of the Interstate (I) 15 Express Lanes and development of the 71/91 interchange improvements, State Route(SR) 60 truck lanes and Mid County Parkway projects included in the Western Riverside County Delivery Plan. • Maintain and enhance communication and collaboration with Caltrans to improve the Commission’s ability to deliver critical projects. • Aggressively pursue commencement of development of the I-15 Express Lanes—Southern Extension project. • Enhance corridor mobility and traveler choice with the construction of the I-15 Express Lanes and 91 corridor operations project and development of the next generation of express lanes projects. • Collaborate with local jurisdictions to implement the Transportation Uniform Mitigation Fee (TUMF) regional arterial program projects and facilitate the delivery of eligible arterial improvements in western Riverside County (Western County). • Continue active engagement in state and federal efforts to streamline and modernize the California Environmental Quality Act (CEQA) and the National Environmental Policy Act (NEPA) to improve the Commission’s ability to deliver critical projects. Toll Operations • Efficiently operate express lanes and achieve high customer satisfaction through reduction in congestion, mobility improvements, and management of demand. Regional Programs • Maintain an active involvement in state and federal legislative matters to ensure that the Commission receives proper consideration for transportation projects and funding. • Continue the development of a county-wide transportation plan and the first ten-year update of the 2009 Measure A Expenditure Plan, as required by the ordinance. • Subsidize reliable and cost-effective Metrolink commuter rail service to and from Riverside County; Southern California Regional Rail Authority (SCRRA) is the operator of Metrolink. • Provide leadership in the planning and development of the Coachella Valley-San Gorgonio Pass corridor rail service. • Support innovative programs that provide transit assistance in hard to serve rural areas or for riders with special transit needs. • Promote cost controls and operating efficiency for transit operators. 105 • Maintain effective partnerships among commuters, employers, and government to increase the efficiency of our transportation system by encouraging and promoting motorized and non-motorized transportation alternatives. • Provide a motorist aid system that ensures safety and convenience to freeway motorists. Management Services • Maintain close communication with Commissioners and educate policy makers on all issues of importance to the Commission. • Develop and execute a communications and public engagement strategy for the purposes of education, information, and customer service. • Maintain administrative program delivery costs below the policy threshold of 4% of Measure A revenues; the FY 2019/20 Management Services budget is X.XX% of Measure A revenues. • Maintain administrative salaries and benefits at less than 1% of Measure A revenues; the FY 2019/20 administrative salaries and benefits is 0.XX% of Measure A revenues. • Maintain prudent cash reserves to provide some level of insulation for unplanned expenditures. • Maintain current strong bond ratings with rating agencies. • Establish and maintain revenues and reserves generated from toll operations to be available for debt service in accordance with toll supported debt agreements; maintenance, repair, rehabilitation, administration and operations; and capital projects within the corridor. Linking Commission Policy Goals and Departmental Goals and Objectives The following matrix (Table 1) illustrates the linkage of the Commission’s core policy goals described in this section to the individual departmental goals and objectives included in Section 5. Table 1 – Relationship between Commission and Departmental Goals Department Quality of Life Operational Excellence Connecting the Economy Responsible Partner Management Services Executive Management X X X X Administration X External Affairs X X X Finance X Regional Programs Planning and Programming X X X X Rail Maintenance and Operations X X X X Public and Specialized Transit X X X X Commuter Assistance X X X X Motorist Assistance X X X Capital Project Development and Delivery X X X X Toll Operations X X X X 106 Fiscal Accountability Policies As the steward of local, state, and federal resources, RCTC maintains financial policies that promote fiduciary responsibility and organizational excellence. Financial Planning Balanced Budget RCTC adopts an annual budget in which operating and capital expenditures and other financing uses are equal to or less than identified revenues and other financing sources as well as available fund balances. Administration Allocations from local and state sources and toll operations fund administrative costs, including salaries and benefits. o Administrative salaries and benefits cannot exceed 1% of Measure A sales tax revenues. o Administrative costs will not exceed 4% of Measure A sales tax revenues (inclusive of the 1% salary limitation). Retirement Benefits RCTC contributes 100% of the annual requirement related to its proportionate share of the net pension liability and to the postretirement health care benefits. Capital Projects Multi-year capital projects are consistent with the strategic plan and budgeted by fiscal year, based on best available estimates. Reserves RCTC establishes and maintains reserves in accordance with Measure A and TDA policies as well as debt agreements. Revenues Sales Tax RCTC prepares annual and mid-year revised revenue projections to ensure use of current and relevant data; staff may adjust amounts during the budget process to reflect the most current economic trends. Tolls RCTC-adopted policies establish congestion pricing in order to optimize throughput on toll facilities while generating revenue to meet all financial commitments related to: o Debt issued to construct or repair any portion of the toll facility, payment of debt service, and satisfaction of other covenants and obligations related to indebtedness of the toll facility, including applicable reserves; o Development, maintenance, repair, rehabilitation, improvement, reconstruction, administration, and operation of the toll facilities, including toll collection and enforcement and applicable reserves; and o Projects within the corridor that generated the revenue. Funding Sources RCTC uses local funding sources to maximize federal and state funding of projects. Sale of Properties RCTC returns proceeds from the disposition of excess properties to the programs that provided the funding sources for the property acquisition. ATTACHMENT 2 107 Expenditures/Expenses Priorities RCTC reviews established priorities for planning and programming of capital projects annually. Accountability RCTC compares actual expenditures/expenses to the budget on at least a quarterly basis and appropriately notes, explains, and justifies significant deviations. Procurement RCTC ensures competitive, transparent, objective, and fair procurement selection processes in accordance with policies adopted on June 13, 2018. Capital and Intangible Assets On a government-wide basis, RCTC records capital and intangible assets at historical costs, estimated historical costs if purchased or constructed, or estimated fair value at date of donation. RCTC maintains such assets in a state of good repair and safeguards them from misuse and misappropriation. o RCTC generally does not capitalize infrastructure, which title will be vested with Caltrans or other governmental agency. o RCTC depreciates capital and amortizes intangible assets over the estimated useful life or service concession term. Debt Management Debt Limitation Outstanding sales tax revenue debt cannot exceed $975 million, in accordance with Measure K approved by a majority of the voters in November 2010; RCTC can issue toll-supported debt for specific highway projects based on amounts authorized by the Commission. Management RCTC maintains and updates the Debt Management Policy, as adopted on September 14, 2016, and Interest Rate Swap Policy, as adopted July 12, 2006, for matters related to sales tax revenue and toll-supported indebtedness. Coverage RCTC maintains debt coverage ratios of 2.0x on all senior sales tax revenue debt and 1.3x on all toll-supported debt. Issuance RCTC issues debt for major capital projects including engineering, right of way, construction, and design-build; RCTC will not finance operating requirements except for initial toll operations. Costs of issuance, including the standard underwriter’s discount, do not exceed 2% unless specifically authorized. Maturity All sales tax revenue debt matures prior to the termination of 2009 Measure A on June 30, 2039; all toll-supported debt matures prior to the expiration of toll facility agreements. Cash Management Management RCTC invests funds in order of priority (safety, liquidity, and yield) in accordance with the Investment Policy, adopted on December 12, 2018, or debt agreements. Receipts Where possible, RCTC encourages receipt of funds by wire transfer to its accounts. Payments RCTC makes cash disbursements to local jurisdictions and vendors/consultants in a timely manner. Operating Balances RCTC maintains amounts in the bank operating account at the amount necessary to meet monthly expenditures/expenses. 108 Accounting and Financial Reporting Accounting System RCTC maintains an ERP system that integrates project and toll operations accounting needs and improves accounting efficiency. Reporting RCTC issues a Comprehensive Annual Financial Report (CAFR); separate financial reports for the LTF, STA, Proposition 1B Rehabilitation and Security Project Accounts, SB 1 State of Good Repair (SGR) Program, Low Carbon Transit Operations Program (LCTOP), and toll operations; and the State Controller’s Transportation Planning Agency Financial Transactions Report and Government Compensation in California Report. Audits An independent accounting firm conducts an annual audit of the Commission’s accounting books and records; RCTC obtains audits of Measure A and TDA funding recipients for compliance and other matters in a timely manner. 109 COMMISSION GOALS AND FISCAL POLICIES FY 2019/20 Budget Theresia Trevino, Chief Financial Officer 1 Commission Goals and Fiscal Policies Budget Development FY 2019/20 BUDGET 2 Commission Goals and Policies •Workshop •Core goals and objectives •Guiding fiscal policies Department Goals and Objectives •Specific to department or program •Correlate to core goals and objectives Budget Development and Adoption •Public hearings open in May •Adopt budget by June 15th Commission Goals and Fiscal Policies Commission Goals and Objectives FY 2019/20 BUDGET 3 Quality of Life •Choice •Environmental Stewardship •Mobility •Access •Goods Movement Operational Excellence •State of Good Repair •Promises Fulfilled •Innovation •Information Connecting the Economy •Workforce Mobility •Population Growth •Economic Impact Responsible Partner •Streets and Roads •Transit •Active Transportation •Grants •Local Measure A Value Commission Goals and Fiscal Policies Guiding Fiscal Policies FY 2019/20 BUDGET 4 Financial planning Revenues Expenditures/expenses Debt management Cash management Accounting and reporting Commission Goals and Fiscal Policies Next Steps FY 2019/20 BUDGET 5 Final Budget June 12 –Commission closes public hearing and adopts budget Draft Proposed Budget April 22 –B&I reviews Executive Summary May 8 –Commission opens public hearing and reviews Executive Summary Development of Budget Departmental budgets, including linkage to Commission goals and objectives Compilation and review of budgets consistent with fiscal policies AGENDA ITEM 11 Agenda Item 11 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Jillian Guizado, Legislative Affairs Manager THROUGH: Aaron Hake, External Affairs Director SUBJECT: State and Federal Legislative Update STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file an update on state and federal legislation; 2) Adopt RCTC’s Federal Reauthorization Principles; 3) Adopt the following bill position: a) AB 252 (Daly, Frazier); and 4) Forward to the Commission for final action. DISCUSSION: State Update With the 2019-2020 legislative session underway, the State Legislature has begun hearing proposed legislation and will continue to do so through August. Staff is following all relevant bill introductions and over the coming months will bring recommended bill positions for the Commission to consider adopting. At present, staff is tracking more than 50 bills. AB 252 (Daly, Frazier) – Staff Recommendation: Support In early 2017, Assemblymember Jim Frazier authored a bill that Governor Brown ultimately signed, AB 28, to reauthorize National Environmental Policy Act (NEPA) Assignment, as authorized by memoranda of understanding with the Federal Highway Administration. At the time, there was a sunset date of January 1, 2017, which AB 28 extended to January 1, 2020. In advance of yet another impending sunset date on this valuable federally authorized program, the Self-Help Counties Coalition, of which the Commission is a member, is sponsoring AB 252 to remove the sunset date. The Commission has benefitted first-hand from NEPA Assignment, most recently on the State Route 79 Realignment project. To that end, the Commission’s recently adopted 2019 State and Federal Legislative Platform includes a principle under “Project Delivery Streamlining” to “support removing the statutory sunset on the NEPA Assignment program California participates 110 Agenda Item 11 in with the Federal Highway Administration which continues to benefit Commission projects.” Staff is recommending the Commission take a support position on AB 252. Federal Update As of the writing of this agenda item, the federal government had not passed an appropriations bill to keep the government open and funded beyond February 15, 2019. A timelier federal update will be provided orally to the Committee. RCTC’s Federal Reauthorization Principles In 2015, Congress passed the Fixing America’s Surface Transportation (FAST) Act; a five-year federal transportation authorization bill. When the FAST Act was passed, it included historic funding levels for surface transportation programs and even created a new discretionary grant program, the Nationally Significant Freight and Highway Projects program, currently known as INFRA. The FAST Act authorizes transportation spending by the federal government through Federal Fiscal Year 2020. While the FAST Act’s expiration is 18 months away, House and Senate committees have already begun holding hearings to lay the framework for what the next transportation reauthorization bill looks like. As such, staff has developed and is recommending for adoption, six federal reauthorization principles (Attachment 1) which will be used by staff and legislative advocates in Washington, D.C. to lobby for federal policies and investments that may offer the most benefit to the Commission. The six federal reauthorization principles being recommended and impetus behind them are as follows: 1. Recognize the importance of federal transportation funding to ensure continued delivery of important transportation projects. 2. Facilitate project selection and funding control at local level to get projects delivered as quickly and efficiently as possible. 3. Streamline the environmental process and reduce the project delivery timeline to deliver projects to the public faster. 4. Improve project programming and planning processes to reduce the administrative burden on local and regional transportation agencies. 5. Provide additional funding to mitigate freight impacts in recognition of the severe congestion and air quality impacts caused by large volumes of freight moving through Riverside County. 6. Continue TIFIA and support tolling on public highways to avail counties like Riverside of innovative methods for funding and delivering transportation improvements. Attachment: RCTC’s Federal Reauthorization Principles 111 RCTC’s Federal Reauthorization Principles 1 1) Recognize importance of federal transportation funding a. Ensure the Highway Trust Fund stays funded to maintain and improve the country’s transportation assets. b. The self-help county model works because significant local investment leverages federal dollars to accomplish more. Partner with federal investment to finish the job locals have started. c. Recognition of self-help counties stepping up and taking risks to deliver transportation improvements. 2) Facilitate project selection and funding control at local level a. Increase sub-allocation of Surface Transportation Block Grant funding to regional governments. b. Continue to provide regional governments with direct project selection authority for sub-allocated funds. c. Explicitly allow MPOs to distribute TAP funding by formula. d. Regional and local governments should be an eligible recipient of Federal Railroad Administration (FRA) grant funds. 3) Streamline environmental process, reduce project delivery timeline a. NEPA reciprocity: ensure California is one of the two states allowed to participate in the pilot and repeal the sunset provision limiting the timeframe of the pilot program. b. NEPA clean-up and streamlining: i. Establish strict deadlines for bringing NEPA lawsuits challenging the analysis or procedure of environmental review documents; ii. Establish regulations limiting judicial remedies to avoid costly (time and money) project delays over minor administrative revisions to environmental documents; and iii. Cap the volume of materials that can be included in a NEPA document to realign with the original directive for an EIS to be 150 to 300 pages. 4) Improve project programming and planning processes a. Revise the Federal Transportation Improvement Plan (FTIP) requirement to be fiscally constrained in four years to five years to be consistent with the State Transportation Improvement Plan (STIP) and allow more flexibility in obligating funds. b. FTIP amendments process: i. Allow Air Quality Exempt Project Categories in the TIP to be amended without US DOT approval; and ii. Allow originally-approved projects in the TIP to be amended to account for cost increases due to construction materials and other market forces if the cost increases do not exceed 30% or $10 million. c. Streamline federal project requirements in order to improve the ability of local governments to obligate and expend federal funds in an expeditious manner. 112 RCTC’s Federal Reauthorization Principles 2 5) Provide additional funding to mitigate freight impacts a. Continue to fund the National Highway Freight Program. b. Ensure eligibility of freight mitigation projects under the National Highway Freight Program to address the impact of freight movements on local government transportation systems and public health and safety. c. Ensure roadway infrastructure freight mitigation projects are weighed the same as other freight projects in any discretionary grant program. d. Freight policies and discretionary grant programs should recognize the impact of goods movement from the Ports of Los Angeles and Long Beach and the U.S.-Mexico border on the entirety of southern California. e. Provide federal dollars for investing in shared-use rail corridors that benefit passenger rail. 6) Continue TIFIA and support tolling on public highways a. Continue adequate funding of the TIFIA program. b. Allow habitat conservation plans or plans for advanced mitigation to be considered stand-alone projects eligible for TIFIA loan assistance. c. Maintain mode neutrality for the TIFIA program. d. Continue to utilize a rolling application process for TIFIA assistance. e. Ensure implementation of Congressional intent related to TIFIA assistance to equal up to 49% of project costs. f. Continue Build America Bureau and FHWA efforts to address permitting issues with other regulatory agencies. 
 g. Encourage integration of TIFIA requirements into other approval processes. h. Streamline the Letter of Interest process in order to provide greater schedule certainty for TIFIA loan applicants. i. Continue to authorize the Value Pricing Pilot Program. 113 AGENDA ITEM 12 Agenda Item 12 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Shirley Medina, Planning and Programming Director THROUGH: John Standiford, Deputy Executive Director SUBJECT: Active Transportation Program Cycle 4 – Riverside County Project Recommendations for Metropolitan Planning Organization Regional Program STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve the Riverside County Active Transportation Program (ATP) projects for inclusion in the Metropolitan Planning Organization (MPO) ATP Regional Program Cycle 4 consisting of the highest scoring implementation projects in the total amount of $10,612,000; 2) Authorize staff to adjust the amounts to projects in either the ATP or Sustainable Communities Program to maximize available funds in Riverside County; 3) Submit the recommended projects to the Southern California Association of Governments (SCAG) for inclusion in the MPO ATP Regional Program and subsequent submittal to the California Transportation Commission (CTC) for final approval in June 2019; 4) Submit the MPO ATP regional projects to SCAG for inclusion in the Federal Transportation Improvement Program (FTIP) programming; 5) Direct staff to coordinate with the MPO ATP Regional Program project sponsors regarding timely funding allocations, obligations, and project delivery; and 6) Forward to the Commission for final action. BACKGROUND INFORMATION: Senate Bill 99 created the ATP focusing state and federal funds toward projects that improve public health and reduce greenhouse gases. The CTC is responsible for administering the program including the development of guidelines, which involves local agency and public input. Project categories for these funds mainly include pedestrian and bicycle facilities or programs that enhance or encourage walking and bicycling. ATP Cycle 4 began with the release of a call for projects on May 16, 2018. The call for projects included three categories of funding: Funding Category Amount Statewide Competitive (50%) $ 232,173,000 Small Urban and Rural Competitive (10%) 46,434,600 Large MPO Competitive (40%) 185,738,400 114 Agenda Item 12 Total Available ATP Funds – Cycle 4 $ 464,346,000 Applications were due to the CTC and Caltrans by July 31, 2018. The CTC received a total of 554 project applications requesting over $2.2 billion in ATP funds over four fiscal years (FY 2019/20 through FY 2022/23). Scoring of applications was managed by the CTC and involved the participation of various agencies including, but not limited to, regional transportation planning agencies, MPOs, Caltrans, councils of governments, county public health departments, and advocacy and interest groups such as Safe Routes to Schools (SRTS), California Bicycle Coalition, and Rails to Trails. In total, Riverside County agencies submitted 34 projects requesting approximately $138 million of ATP funding in this cycle of funding. The ATP process allows applicants two rounds of opportunity to be awarded – statewide and MPO level. As part of the sequential project selection, projects are first evaluated statewide and those that are not ranked high enough for statewide funding are automatically provided a second opportunity for funding through the Large MPO share. Applications were scored based on the following criteria established by the CTC: • Benefits to Disadvantaged Communities (DAC) • Need • Safety • Public Participation & Planning • Scope and Plan Consistency • Implementation & Plan Development • Context Sensitive & Innovation • Transformative Projects • Evaluation and Sustainability • Cost Effective • Leveraging • Conservation Corps • Past Performance CTC/Caltrans Statewide Competitive Funding Recommendations On January 30, 2019, the CTC approved its project recommendations for the statewide competitive component, which included the following six projects from Riverside County: CTC/CALTRANS ATP PROJECT FUNDING FOR RIVERSIDE COUNTY – STATEWIDE COMPETITION Agency Project ATP Request *DAC CTC Score Desert Hot Springs Hacienda Ave SRTS (sidewalk, bike, ADA, lights) $1,322,000 X 95 Riverside County Thermal & Oasis; multimodal trails, pedestrian 6,844,000 X 93 115 Agenda Item 12 Temecula Santa Gertrudis Creek Trail Ph II 1,502,000 X 91 Eastvale North/South Bike Gap Closure 4.7 mi 6,471,000 X 90 Jurupa Valley Sunnyslope SRTS: 9k sidewalk, crosswalk, ramp 2,855,000 X 90 Moreno Valley Juan Bautista: 4 mile multi use trail 8,403,000 X 89 Riverside County Statewide Total $27,397,000 MPO Regional Program Recommendations The SCAG MPO ATP share is $92.5 million for the six-county region and includes approximately $88 million for implementation projects and $4.6 million for planning and non-infrastructure activities. The $88 million for implementation projects is distributed by county based on population. For non-infrastructure projects, 5 percent is available from ATP and other state fund sources for $4.6 million and is also distributed by population. County Infrastructure Funding Amount Non- Infrastructure Funding Amount Imperial $ 841,000 $ 44,000 Los Angeles 47,503,000 2,500,000 Orange 14,770,000 777,000 Riverside 10,937,000 576,000 San Bernardino 9,920,000 522,000 Ventura 3,973,000 209,000 Total $ 87,944,000 $ 4,628,000 ATP guidelines require that large MPOs, such as SCAG, work with the county transportation commissions to develop their regional program recommendations. For ATP Cycle 4, SCAG revised its MPO ATP guidelines to allow each county transportation commission to increase the point distribution from 10 to up to 20 points to be added to the CTC score for projects based on local criteria. Commission staff reviewed the revised point distribution with the Technical Advisory Committee and recommended the below distribution, which was approved at its November 2018 Commission meeting: 20 Point Distribution (Infrastructure Projects) –  10 points for projects identified within the Western Riverside Council of Government’s Subregional ATP; Coachella Valley Association of Governments (CVAG)Non-Motorized Plan; or an adopted local active transportation plan, bike or pedestrian master plan, or SRTS Plan;  4 points for projects requesting construction-only funding; and  6 points for projects requesting construction funding in the first two programming years of the ATP Cycle 4 call for projects. 116 Agenda Item 12 Adding 20 points to Riverside County project scores for the projects not recommended for the statewide competitive program results in the next highest scored projects that can be funded from Riverside County’s share of MPO funding: RIVERSIDE COUNTY MPO IMPLEMENTATION PROJECT RECOMMENDATIONS Agency Project ATP Request Cumulative Total CTC Score/ RCTC Score Palm Desert San Pablo; sidewalk, bike lanes, class 4, roundabouts $ 3,222,000 $ 3,222,000 86/106 Riverside County El Toro SRTS Sidewalk, 5k sidewalk, curb ramps, crosswalk 2,311,000 5,533,000 77/87 Lake Elsinore Murrieta Creek Multi Use Trail – 1 mile 5,079,000 10,612,000 76/86 Total Available $ 10,937,000 *Balance 325,000 *Staff will work with agencies and SCAG to fully utilize the balance of $325,000. Two other high scoring projects were considered for MPO funding, which include 1) Desert Hot Springs’ CV Link Extension – 13 mile pathway at $22.284 million (RCTC Score: 98); and 2) CVAG Coachella Valley Arts & Music Line – 10 mile pathway at $24.989 million (RCTC Score: 92). Unfortunately, these two projects required a considerably higher amount of funding than the $7.7 million that was available after funding the City of Palm Desert project. Staff contacted the City of Desert Hot Springs and CVAG to inquire if they had sufficient funding to cover the shortfall and each replied that it did not. Also, projects cannot be segmented or downsized as this would affect the evaluation scores. Therefore, staff selected the following two highest scoring projects reflected in the above table. Staff will continue to work with the City of Desert Hot Springs and CVAG to review ways to improve the competitiveness of these transformative projects for the next ATP cycle. SCAG Sustainability Communities Program (SCP) As part of the MPO ATP share, SCAG sets aside 5% for planning and non-infrastructure activities, which is capped at a maximum of $500,000 per project. SCAG’s draft recommendations include the following projects: • Riverside County Department of Public Health – SRTS Program, City of Desert Hot Springs, $500,000 (County ATP fund request is $610,000) • City of Cathedral City – Cathedral City Active Transportation Plan, $250,000 117 Agenda Item 12 Lastly, SCAG’s draft recommendations for SCP is to fund the city of Riverside’s Pedestrian Target Hardening Plan for $250,000 through another SCAG planning program. As of the writing of this report, SCAG’s recommendations have not been approved. Staff will work with SCAG on finalizing the recommendations for ATP and SCP funds including the possibility of utilizing the balance from the MPO Infrastructure pot. SCAG will approve the ATP MPO project recommendations for the region at its April 2019 Board meeting and forward its recommendations to the CTC for final approval at the CTC June 2019 meeting. Next Steps Upon approval of the above recommendations for MPO ATP funding, staff will submit the projects to SCAG for inclusion in the MPO ATP Regional Program Cycle 4. Subsequently, SCAG will submit the MPO Regional Program projects to the CTC for final approval at the June 2019 CTC meeting. Staff will work closely with project sponsors in preparing allocation funding requests and requests for obligating federal funds. Projects will also be required to be included in the FTIP. Staff will continue to participate in CTC/Caltrans working groups to further develop and improve the ATP guidelines and process, and participate in future evaluations of ATP project applications. Financial Impact ATP funds are administered through the CTC, Caltrans, and the Federal Highway Administration. The Commission is not a recipient of these MPO ATP funds; therefore, there is no fiscal impact to the Commission’s budget. Attachment: ATP Scores for All Riverside County Applications 118 State Scores Agency Project Total Project Cost ATP Request 19/20 20/21 21/22 22/23 PAED PSE ROW CON CON NI 95 Desert Hot Springs Hacienda Ave SRTS (sidewalk, bike, ADA, lights)1,498 1,322 1,322 1,322 93 Riverside Co Thermal & Oasis; multi modal trails, ped 6,944 6,844 850 5,994 300 500 5,944 91 Temecula Santa Gertrudis Creek Trail Phase II; UC, light, signs 2,085 1,502 1,502 1,462 90 Eastvale North/South Bike Gap Closure 4.7 mile 8,091 6,471 871 5,600 114 457 5,600 90 Jurupa Valley Sunnyslope SRTS: 9K sidewalk, crosswalk, ramp, RRFB 3,173 2,855 389 2,466 1 388 2,466 89 Moreno Valley Juan Bautista: 4 mile multi use trail 8,653 8,403 1,010 7,393 350 600 7,393 TOTAL 30,444 27,397 WRCOG/ CVAG Plan? 10pts CON Only? 4pts CON 19/20 or 20/21? 6pts MPO Scores State Scores Agency Project Total Project Cost ATP Request 19/20 20/21 21/22 22/23 PAED PSE ROW CON CON NI 10 4 6 106 86 Palm Desert San Pablo; sidewalk, bike lanes, class 4, roundabouts 4,053 3,222 3,222 3,222 10 87 77 Riverside Co El Toro SRTS Sidewalk; 5K sidewalk, curb ramps, crosswalk 2,311 2,311 50 410 1,851 50 330 80 1,763 88 10 86 76 Lake Elsinore Murrieta Creek Multi-Use Trail - 1 mile 5,079 5,079 365 350 460 3,904 365 350 460 3,904 TOTAL 11,443 10,612 Riverside Share 10,937 Remaining 325 10 4 98 84 Desert Hot Springs CV Link Extension - 13 mile pathway 23,904 22,284 22,284 22,284 10 4 92 78 CVAG Coachella Valley Arts & Music Line -10 mile pathway 31,629 24,989 24,989 24,989 10 85 75 Hemet 12K multi-use path, bike lane, walkway 6,937 5,514 653 4,861 222 431 4,861 10 85 75 Jurupa Valley Mira Loma SRTS: 16K sidewalk, crosswalk, ramp, RRFB, solar beacons 2,583 2,324 324 2,000 1 323 2,000 10 85 75 Lake Elsinore Machado Street Sidewalk - ped & bike facility 1,441 1,441 210 120 1,111 10 200 120 1,111 10 84 74 Jurupa Valley Granite Hill SRTS: 14K sidewalk, crosswalk, ramps 3,577 3,211 411 2,800 1 410 2,800 10 82 72 Indio Clinton & Miles SRTS: crosswalk, speed signs, bike lanes, curb 5,837 5,837 175 525 5,137 175 525 5,137 10 80 70 Riverside Co Theda SRTS Sidewalk; 2K sidewalk, curb/gutter, ADA, beacons 1,726 1,726 30 495 1,201 30 210 285 1,111 10 4 6 79 59 Wildomar Bundy Canyon; 2.2 mile class I 5,072 4,007 4,007 10 4 6 73 53 Riverside HAWK Signals, traffic signals 1,461 1,242 1,242 1,242 10 67.5 57.5 Riverside Co Dillon Road Bike Lane; Class II, rumble strips, signs 3,387 3,387 100 430 2,857 100 350 80 2,832 10 66 56 Riverside Co Lakeview SRTS Sidewalk; 2K sidewalk, curb/gutter, ADA 1,498 1,498 25 250 1,223 25 200 50 1,148 10 65 55 Riverside Co El Nido SRTS Sidewalk; 3K sidewalk, curb/gutter, crosswalk 1,641 1,641 30 322 1,289 30 250 72 1,289 10 63 53 Riverside Co Hemet SRTS Sidwalk; 3K sidewalk, ada, crosswalk 1,907 1,907 25 565 1,317 25 225 340 1,157 160 10 4 62 48 Riverside Ramona Neighborhood & Magnolia ped improv 2,392 1,894 1,894 1,894 10 60 50 Lake Elsinore 1.2 miles safety improvement, multi use path, retaining wall 3,979 3,979 85 270 415 3,209 85 270 415 3,209 10 4 6 54 34 Palm Springs Sidewalk Gap Closure, sidewalk, ramps 3,178 2,861 2,861 2,861 10 53 43 Lake Elsinore 1.7 miles safety improvement, bike lane, retaining wall 6,479 6,479 160 350 445 5,524 160 350 445 5,524 10 27 17 Murrieta Whitewood Rd; sidewalk 955 850 110 740 20 90 740 10 9 -1 Beaumont Rehab Cherry Avenue Channel Walkway, ped bridge, lighting 785 785 100 685 10 90 685 TOTAL 110,368 97,856 STATEWIDE COMPONENT ATP CYCLE 4 RCTC 20 PT MPO COMPONENT 119 State Scores Agency Project Total Project Cost ATP Request 19/20 20/21 Cathedral City*Cathedral City Active Transportation Plan (ATP)250 87 Riv Co Heatlh SRTS Desert Hot Springs 610 610 610 87 Riverside*Pedestrian Target Hardening Plan 250 220 220 86 Riv Co Heatlh SRTS Corona 580 580 580 84.5 Perris Cape - Cyclist and Ped Edu programs 594 559 559 76 Riv Co Heatlh SRTS Moreno Valley 640 640 640 TOTAL 2,674 2,609 NUMBER OF APPLICATIONS SUBMITTED 34 *Project not submitted through ATP Cycle 4 *Project awarded with other SCAG source SCAG SUSTAINABLE COMMUNITIES PROGRAM 120 California Transportation Commission’s 2019 Active Transportation Program -Cycle 4 Large Metropolitan Planning Organization (MPO) Regional Program Project Recommendations Shirley Medina Planning and Programming Director ATP Program Overview •Administered by the California Transportation Commission (CTC) •Funds bicycle and pedestrian facilities and programs to enhance or encourage walking and biking •Competitive: –Statewide and Small/Rural Programs –Large MPO level 25% of ATP Dollars Must Fund Projects In Disadvantaged Communities Distribution of Funds –Cycle 4 554 total applications = $2.2 B 34 from Riverside Co = $136M$464 M FYs 19/20 –22/23 $278.6 M (60%) State/Rural SCAG = $92.572 M $185.7 M (40%) MPO $10.937 M (12%) Riverside County $87.943 M (95%) Implementation $4.629 M (5%) Planning/Non- Infrastructure SCAG 2019 Sustainability Planning Grants (SPG) Program Note: Percentages are rounded, amounts are actual ATP Cycle 4 Statewide = $278.6 M CTC Approved Statewide/Rural Programs –Jan 2019 Projects Scoring 89 and above CTC Awarded 6 Riverside County Projects: -Desert Hot Springs Hacienda Ave SRTS, ped, bike $1.322 m -County of Riverside Thermal & Oasis; multimodal trails, ped $6.844m -Temecula Santa Gertrudis Creek Trail Ph II $1.502m -Eastvale North/South Bike Gap Closure 4.7 mi $6.471m -Jurupa Valley Sunnyslope SRTS, 9k sidewalk, crosswalk $2.855m -Moreno Valley Juan Bautista, 4 mi multiuse trail $8.403m $27.397m ATP Cycle 4 MPO SCAG $92.572 M Riverside County Share = $10.937 M SCAG MPO Guidelines Allows additional 20 points RCTC Approved 20 point distribution Total Points Category 10 points Projects/Programs Consistent With Regional/Local Plans 6 points Projects Requesting Construction Funding in the First Two Programming Years of Cycle 4 (Fy’s 19/20 & 20/21) 4 points Projects Requesting Construction-Only funding 20 points Total Riverside County MPO Share Project Recommendations for ATP Cycle 4 ATP MPO -$10.937 M Available: Agency Project ATP $MPO Score Palm Desert San Pablo, sidewalk, bike lns $3.222 m 106 County of Riverside El Toro SRTS, sidewalk, curb ramps $2.311 m 87 Lake Elsinore Murrieta Creek, multiuse trail $5.079 m 86 County of Riverside SRTS, Corona (non-infrastructure)$ .325 m 86 $10.937 m Projects unable to be funded due to funding constraint: Desert Hot Springs CV Link Extension –13 mi pathway $22.284 m 98 CVAG CV Arts & Music –10 mi pathway $24.989 m 92 SCAG SCP Draft Recommendations for Planning/Non-Infrastructure -$4.6 M Available -*County of Riverside SRTS, Desert Hot Springs $500k (requested $610k) -Cathedral City Active Transportation Plan $250k -**Riverside Pedestrian Target Hardening Plan $250k *County Public Health will fund $110k shortfall **Funded from another SCAG funding program Staff Recommendation - Approve projects for ATP Cycle 4 MPO Funding: -Palm Desert San Pablo sidewalk, bike lanes $3.222m -County of Riv El Toto SRTS Sidewalk, curb, etc.$2.311m -Lake Elsinore Murrieta Creek Multi-Use Trail $5.079m -County of Riv SRTS, Corona $0.325m Total:$10.937m Submit ATP MPO recommendations to SCAG for approval by Regional Council Submit projects to SCAG for FTIP inclusion Forward to Commission for final action Questions ? AGENDA ITEM 13 Agenda Item 13 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Josefina Clemente, Transit Manager THROUGH: Lorelle Moe-Luna, Multimodal Services Director SUBJECT: Local Transportation Fund Advance Loan to Riverside Transit Agency STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve a loan to advance Local Transportation Funds (LTF) in the amount of $22 million to Riverside Transit Agency (RTA) under the condition the loan is repaid to the Commission within 14 days of receipt of Federal Transit Administration (FTA) Section 5307 funds; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: The 2019 federal government shutdown that lasted 35 days has impacted numerous federal agencies and associated services including the FTA and grantees such as SunLine Transit Agency (SunLine) and RTA. The Commission recently approved a loan to advance LTF funds to SunLine on January 31, 2019. RTA is also requesting a loan to advance LTF funds to cover its annual operating expenses and capital improvements due to its inability to access FTA funds programmed for Fiscal Year 2018/19 costs. Since the federal government reopened on January 25, 2019, and another federal government shutdown was averted on February 15, RTA has had access to previously awarded federal funds in order to request reimbursements. However, limited federal reimbursements have been received to date. Furthermore, RTA’s FY 2018/19 Section 5307 grant is pending the release of the Federal Register and is yet to be awarded. The approval of its FY 2018/19 Section 5307 grant could take several months to award. For these reasons and an anticipated backlog in federal reimbursement requests, RTA is requesting a loan in the maximum amount of $22 million from the Western County Apportioned and Unallocated LTF Reserve Fund due to the agency’s inability to access FTA funds programmed to cover its Fiscal Year 2018/19 operating and capital expenses. 121 Agenda Item 13 DISCUSSION: RTA, along with all other public operators in Riverside County, must file a Short Range Transit Plan (SRTP) with the Commission as part of the Commission’s annual budget preparation process and in accordance with the state’s Transportation Development Act (TDA). The Commission typically approves the SRTPs in June and programs and allocates funds in July of each year. Part of the funding plan for RTA, as described in its annual SRTP, includes the programming of federal Section 5307 funds, which are used to augment LTF and passenger fares as an operating cash component. RTA forwarded a request to the Commission on February 6, 2019, for a loan to advance LTF as the agency anticipates that it will not have adequate funds on hand to continue funding operations at the level approved in the SRTP. RTA uses Section 5307 formula and other federal revenues to fund a significant portion of its annual operating expenses and capital improvements. The FY 2018/19 SRTP and federal program of projects included in the FY 2018/19 funding allocation for RTA assumed $29.8 million of federal Section 5307 funds for operating and capital, which accounts for approximately 24 percent of RTA’s total operating and capital budget. Other federal funding of $2.5 million was also programmed. The FTA is now accepting payment requests for previously awarded funds and limited amounts of reimbursements have been received. However, the FY 2018/19 grant approval has not been obtained due to the lack of a federal appropriation. As a result of the delays in receipt of federal funds, RTA projects it will not have sufficient cash flow beginning mid-April 2019 through August 2019. The current balance in the Western County’s Apportioned and Unallocated LTF reserve fund (including 10 percent reserve) is approximately $53.1 million. Upon Commission approval and release of the $22 million loan, Western County’s LTF reserve fund will be reduced to approximately $31.1 million. Per the TDA regulations, LTF funds are required to be deposited and maintained in the County treasury, and the County Auditor disburses funds only upon submittal of payment instructions by Commission staff. The Commission is responsible for approving funding allocations for operating and capital needs identified in the annual SRTP request from each transit operator. Therefore, although short-term loans are rare, they have been approved in the past by the Commission with the contingency that the transit operator reimburse the appropriate reserve fund to ensure that expenditures do not exceed the Commission-approved allocations for the respective year. Staff recommends approval of this loan to advance LTF with the contingency that RTA will reimburse the Commission’s Western County Apportioned and Unallocated LTF Reserve Fund within 14 days of receiving the federal Section 5307 funds from the FTA after securing approval of the grant. A budget adjustment is not required, as this is a loan that is expected to be repaid upon receipt of the federal funds. 122 Agenda Item 13 Financial Information In Fiscal Year Budget: N/A Year: FY 2018/19 Amount: $22,000,000 Source of Funds: Western County Apportioned and Unallocated LTF Reserve Fund Budget Adjustment: N/A GL/Project Accounting No.: 601 12301 (loans receivable) Fiscal Procedures Approved: Date: 02/25/2019 Attachment: Riverside Transit Agency Staff Report, Dated February 6, 2019 123 RIVERSIDE TRANSIT AGENCY 1825 Third Street Riverside, CA 92507 February 6, 2019 TO: BOARD BUDGET AND FINANCE COMMITTEE THRU: Larry Rubio, Chief Executive Officer FROM: Craig Fajnor, Chief Financial Officer SUBJECT: Authorization to Request Funding Advance From Allocated Unclaimed Western County Bus Local Transportation Fund (LTF) Reserves Held by the Riverside County Transportation Commission (RCTC) Summary: The Agency utilizes federal funding for portions of both its operating expenses and capital expenditures. Primarily, the Agency uses Federal Transit Administration (FTA) Section 5307 (5307) formula revenues to fund a significant portion of its annual operating expenses and capital improvements. The Agency also utilizes other FTA section funds such as 5310 and 5311 funds for operating expenses and 5339 for capital improvements. Federal funds are available for reimbursement - or draw down - after award of a Federal grant and actual expenditure of eligible costs. On December 4, 2015, President Obama signed the Fixing America’s Surface Transportation (FAST) Act into law. The FAST Act authorized $305 billion over federal fiscal years 2016 through 2020 for highway, highway and motor vehicle safety, public transportation, motor carrier safety, hazardous materials safety, rail, and research, technology, and statistics programs. However, full-year FY19 funding has not yet been authorized by Congress. Continuing resolutions passed to date have not triggered authorization of a percentage of FY19 federal funds which, in turn, has also not triggered publication of any authorized funds in the Federal Register. The FTA recognizes requests for federal funds under the various sections only after the publication of the Federal Register. Recently, the vast majority of the federal government was shut down for over a month due to an impasse between the President and Congress over funding priorities. The FTA is one of the federal agencies that was negatively impacted by the shutdown. In turn, so were FTA grantees such as RTA. While the federal government and FTA were recently re- opened, they are currently only open until February 15, 2019. Whether or not they remain open beyond that point is still to be determined. 124 Staff prepared its initial application for FY19 5307 grant funding in September 2018. The initial application only included identified prior- year funds to be used only for operating expenses. However, the grant was not awarded prior to the partial federal government shutdown. Had it been, approximately $12.5 million (70%) of the Agency’s FY19 programmed 5307 operating funding would have been available. The remaining programmed 5307 funding of $17.3 million, covering both operating expenses and capital projects, requires congressional and presidential approval and subsequent publication in the Federal Register before a formal grant application (or amendment) can be made. Historically, it can take from 3 to 6 months from initial submission of a grant application to actual grant award. Once the grant is awarded, it is available for drawdown (reimbursement) against eligible expenses. Again, until our programmed 5307 funding in the Board-approved FY19 Short-Range Transit Plan (SRTP) and Budget are awarded in a grant, we are unable to drawdown these funds. Further, during the shutdown, we did not have access to any previously- awarded federal grants’ funds. We now have access to previously- awarded federal funds until February 15th and are seeking reimbursement as necessary. What happens after February 15th is to be determined. As of this report, seven months of FY19 5307 eligible operating expenses have been incurred without reimbursement. Additional eligible expenses will continue to be incurred through the remaining five months of the fiscal year. Without availability of and access to the programmed funding, staff’s current cash flow forecast for both operating and capital revenue receipts and expense disbursements indicates a shortage beginning in late-April and growing to $22,000,000 by the end of August. The yet-to-be created and approved FY20 Budget could be impacted as well. Covering this cash shortfall requires an advance of funds from RCTC. The advanced funding is anticipated to be provided from allocated unclaimed Western County Bus LTF reserves held at the RCTC and, thus, would require RCTC approval. Staff has communicated this issue to RCTC staff. RCTC staff has agreed to present this request to the Commission for consideration after RTA Board approval. As stated previously, staff has submitted its initial FY19 5307 grant request. With the federal government now open until at least February 15th, staff is hopeful federal funding will be approved, a Federal Register with funding levels will be published, and the FTA will move rapidly to award our 5307 grant. When awarded, these grant funds will be accessible for draw down. Thus, there is potential the Agency would not consume any or all of the advanced funds. If so, staff will discontinue pursuing this action and/or will remit back to RCTC all advanced funds. 125 In addition, with the federal government currently open, staff has access to existing awarded federal funding until February 15th. If the federal government closes again, access to previously awarded grants will cease. If inaccessible funds become accessible for draw down before the Agency consumes any or all of the advanced funds, staff will discontinue pursuing this action and/or will remit back to RCTC all advanced funds. Fiscal Impact: If no cash sources beyond the current forecast are made available prior to having access to our programmed FY19 5307 funds and those in previously-approved grants, the Agency projects to have a cash flow shortage of $22,000,000 starting in mid-April 2019 and going through August 2019. Staff will continue to monitor the Agency’s cash flow status and mitigate the issue to the greatest extent possible. Recommendation: Approve and recommend this item to the full Board of Directors as follows: • Authorize staff to seek an advance of funds from RCTC in the amount of $22,000,000 to cover the projected deficit from mid-April 2019 through August 2019 in the event the Agency’s FY19 5307 programmed federal funding is not awarded and available for drawdown, as well as not having access to previously-awarded federal funding. • Direct staff to discontinue pursuing this request in the event the aforementioned federal funding becomes available. • Direct staff to remit all advanced funds to RCTC within 10 days after all of the aforementioned federal funds are made accessible to the Agency. 126 AGENDA ITEM 14 Agenda Item 14 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Brian Cunanan, Commuter and Motorist Assistance Manager THROUGH: Aaron Hake, External Affairs Director SUBJECT: Call Box Program Upgrade/Reduction Plan and Agreements STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve the implementation of the 2019 Call Box Upgrade and Reduction Plan (CB Plan); 2) Approve Agreement No. 19-45-059-00 with San Bernardino County Transportation Authority (SBCTA) to provide for the reimbursement of call answering center (CAC) services related to the operation of call box CAC services associated with the call boxes and future 511 motorist assistance services in an amount not to exceed $180,000; 3) Approve Agreement No. 13-45-102-05, Amendment No. 5 to Agreement No. 13-45-102-00, with CASE Systems, Inc. (CASE) to provide call box removal and upgrade services consistent with the CB Plan and for the continued provision of call box maintenance services through June 30, 2020 for an additional amount of $275,000, and a total amount not to exceed $1,765,440; 4) Approve the sunset of the Call Box Program at the end of Fiscal Year 2023/24 or in conjunction with the next system network upgrade, whichever comes first; 5) Authorize the Executive Director pursuant to legal counsel review, to execute the agreements on behalf of the Commission; and 6) Forward to the Commission for final action. BACKGROUND INFORMATION: In 1986, the Commission established itself as the Riverside County Service Authority for Freeway Emergencies (RC SAFE) after the enactment of SB 1199 in 1985. The purpose of the formation of SAFEs in California was to provide call box services and, with excess funds, provide additional motorist aid services. Acting in its capacity as the RC SAFE, the Commission currently operates a Motorist Assistance program within Riverside County’s freeway and highway system that is comprised of three components: 1) call boxes, 2) freeway service patrol (FSP), and 3) 511 traveler information services. Funding for RC SAFE is derived from a one dollar per vehicle registration fee on vehicles registered in Riverside County. The call box program offers motorists traveling on most major highways in Riverside County access to a motorist assistance call box. Once the call box is activated, calls are routed to a CAC. Depending on the situation, call center agents will forward the calls to the California Highway 127 Agenda Item 14 Patrol (CHP), assist the motorist with requesting FSP, or call the motorists’ roadside assistance provider or a friend/family member. The Commission’s call box program consists of cellular call boxes, all equipped with a Tele Type device (TTY), located along most major highways (typically in pairs, one on each side of the highway) in Riverside County, depending on the availability of a cellular signal, proximity to urban areas, and other motorist assistance services. Each call box unit is comprised of the following components that collectively stand at approximately 14-feet high and operate much like a cell phone with enhanced reception: • Breakaway pole; • Protective call box case which, contains the hardware, chipset and tilt sensor, and battery; when opened the case exposes a handset and a TTY keyboard for the hearing impaired; • Blue reflective sign with unique call box numbers; • Small solar panel to recharge the internal battery; and • External antenna. There are several standard call box installation configurations, known as Site Types, which are determined by the site locations characteristics (guard rails, soundwall, k-rail, slopes, etc.). The picture to the right, is an example of a Call Box Site Type A – installed at-grade, in soil. There are two other call box Site Types (B – installed in a cut-slope and C – installed on an in-fill slope) that have been recommended for removal or relocation by statewide guidelines. In total, the Commission currently operates and maintains 233 call boxes in Riverside County (see attachment); 214 are along various highways and 19 are located at the Commission’s Commuter Rail stations. The current footprint and quantity of call boxes reflects previous actions by the Commission, resulting in reductions due to changes in call box guidelines, technology, and declining usage. The last major reduction took place in 2016 when the Commission faced declining call box usage and incremental costs needed to upgrade the call box system to 3G, as major cell providers were discontinuing support for new 2G devices and/or in the process of shutting down their 2G networks entirely. At the time, an evaluation was performed that considered call box spacing and usage factors to determine how best to optimize the call box system. This evaluation resulted in Commission approval to remove 325 call boxes from the system. This reduced the system by almost 60 percent and led to significant cost savings along with a more efficient operation of the call box program. Call box call volumes have continued to steadily decline. Call Box Usage/ Call Types Call boxes were initially installed in Riverside County in the early 1990s for the purposes of providing motorist aid, improving safety, and incident detection. During this decade the program 128 Agenda Item 14 peaked in number with 1,082 call boxes and recorded its highest call volume in FY 1995/96 with more than 88,288 calls; an average of 82 calls per call box per year. Comparatively, in FY 2017/2018, there were 1,864 calls across a total of 238 call boxes – an average of less than eight calls per call box per year. Since the late 1990s, demand for call box services has trended, and continues to trend, downward – a pattern consistent across other call box programs throughout the state. The call box system received calls of different types. Of the total 1,864 calls received in FY 2017/18, 1,675 calls were made from highway call boxes. As shown in Table 1, 631 of those calls were incidental calls only. The more relevant metric with respect to call boxes serving their purpose is how many calls were made for emergency- related or non-emergency requests for assistance (auto club, private towing, FSP, etc.). In total (Table 1), there were 1,044 emergency-related calls or non-emergency requests for assistance in FY 2017/18. This translates to an average of only 4.5 calls per year per call box (or 0.4 calls per call box per month). Call Box Operations and Costs The costliest elements of a call box operation are a) the maintenance of the call box equipment and b) the CAC services. For maintenance, the Commission contracts with CASE, a call box system maintenance services firm, who is responsible for performing corrective maintenance, preventive maintenance, knockdown and vandalism repairs, temporary removals and reinstallations, and permanent removals. At the Commission’s discretion, it can request special projects work be conducted. 0 20,000 40,000 60,000 80,000 100,000 FY91FY92FY93FY94FY95FY96FY97FY98FY99FY00FY01FY02FY03FY04FY05FY06FY07FY08FY09FY10FY11FY12FY13FY14FY15FY16FY17FY18Total CallsFigure 1: Call Box Usage Table 1: FY 2017/18 Call Types Emergency Calls 257 Non-Emergency Requests for Aid Calls 787 Subtotal 1,044 Non-Aid Related Incidental Calls Call Box Check 263 Duplicate Calls 241 Incidental Calls 127 Subtotal 631 Subtotal-Highway Call Box Calls 1,675 Commuter Rail Station Call Box Calls 189 TOTAL Call Box Calls 1,864 129 Agenda Item 14 Corrective maintenance includes all repairs to the call box associated with electronics, transceivers, power supply (battery and solar panel), and the interface with the cellular system or anything that affects the proper function of the call box. Preventive maintenance is to be done at least two times per year on each box to ensure call boxes are clean and operational. Knockdown and vandalism repairs occur on an as-needed basis. Similarly, temporary removals and reinstallations are conducted on an as-needed basis at staff’s request. This type of work is typically only done when the call box will interfere with construction work being done or when construction work will cause the call box to be temporarily inoperable. Permanent removals are only done at the request of staff with the approval of the Commission, CHP, and Caltrans. In addition to call box maintenance, CASE is also responsible for administrative tasks, such as attending meetings, conducting field surveys, issuing correspondence, obtaining encroachment permits, maintaining inventory and supplies, and managing an electronic maintenance system. Based on an agreement that expires in June 2019, the current FY 2018/19 rate for call box maintenance services provided by CASE is $37.03 per active call box per month. Therefore, annual maintenance services for the current network of 233 call boxes costs $103,536 (or $8,628 per month). A private CAC is responsible for answering call box voice and TTY calls 24 hours each day, 365 days per year. The contractor, currently Professional Communications Network (PCN), determines the call box user location and arranges assistance as appropriate and available. CHP-designated high priority calls and FSP-related calls are forwarded to the proper CHP dispatch centers to complete/handle. The CAC is also responsible for call answering software and equipment, Remote Messaging Systems to support call center activity, reporting, and transfer and/or display the status of all calls remotely in real time. The current FY 2018/19 per call rate for CAC services provided by PCN is $5.68 per call. Therefore, for 1,864 calls (FY 2017/18 volume) the annual CAC costs equate to approximately $9,600. Call Answering Center Services Joint Procurement CAC services are provided through a SBCTA contract with PCN that was procured on a competitive basis. The Commission’s agreement with SBCTA for these services is set to expire on March 31, 2019. Consistent with years passed, the Commission, in conjunction with SBCTA and Orange County Transportation Authority (OCTA), serving as the SAFE for Orange County, conducted a joint procurement, in an effort to obtain a lower cost per call and to share call center start up and operational costs. A Request for Proposals for CAC services was released in November 2018 seeking a firm knowledgeable and experienced in providing CAC software and services for motorist assistance programs. SBCTA was the lead on releasing this joint RFP on behalf of the three agencies, who all operate call box programs within their geographical areas and require updated call answering software and services. The scope of work for this contract also incorporates software and services for OCTA’s mobile call box program that motorists can utilize to receive motorist assistance by calling 511 when on a freeway or highway within Orange County. The Commission and SBCTA do not currently operate a mobile call box program, but are working with the CHP to provide this 130 Agenda Item 14 service; therefore, the scope of work for call answering services also incorporates future programs for the Commission and SBCTA. OCTA, RCTC, and SBCTA staff participated on the evaluation committee and based on the evaluation of the written proposals, the firms’ qualifications, the proposed rates, and the information obtained from the interviews and site visits, the evaluation committee recommended the selection of AAMCOM, LLC as the top-ranked firm to perform the scope of work for call box CAC services as outlined in the RFP. Execution of a cooperative agreement is necessary to finalize this joint procurement. The SBCTA Board of Directors is anticipated to take action on March 6 to approve the agreement for five years with five one-year options to extend. The final step in the joint procurement is for the Commission to enter into a cooperative agreement with SBCTA for the reimbursement of SBCTA costs associated with call box and mobile call box answering center services in Riverside County. SBCTA’s Cooperative Agreement is attached. DISCUSSION: The call box system was developed before the proliferation of mobile phones as a means to request motorist assistance. The demand for call boxes continues to decline, and call boxes are nearing obsolescence much like the pay phones and phone booths due to mobile phone ownership trending upward, the widespread coverage of cellular service with increasing number of cell sites, and the availability of other motorist aid services such as FSP or in-vehicle systems to request emergency assistance. Thus, Commission staff continuously evaluates the call box system, resulting in reductions to the system at regular intervals after obtaining Commission approval. The most recent reduction was implemented in 2016 in concert with a Verizon Wireless (Verizon) network upgrade from 2G to 3G. At the time, the cost to upgrade a single call box unit was $900 per box. The approved reduction from 681 call boxes down to 233 call boxes, saved more than $403,000 in upgrade costs and a minimum of $189,000 in annual maintenance service costs. In 2018, Verizon announced that the 3G network would become obsolete after December 31, 2019. Therefore, in order to continue operations, remaining call boxes will need to be upgraded from 3G to 4G. Due to 5G not fully being developed and the unavailability of a 5G cellular call box radio, 4G is the only option at this time. CASE has provided volume-based pricing for 4G call box upgrades at $822 per unit, plus installation costs and taxes estimated at $128 per unit, for an approximate total upgrade cost of $950 per unit. Without a reduction, the total estimated cost to upgrade the existing network of 233 call boxes to 4G is $221,400. Given declining usage in concert with the cost to upgrade and maintain the current number of boxes, staff embarked on an analysis to consider how the program can be modernized while also being made more cost efficient. As a result of the evaluation process, staff recommends the following removal and upgrade actions. Since time is of the essence due to the imminent network upgrade to 4G, staff further 131 Agenda Item 14 recommends extending the CASE agreement through June 30, 2020 and funding maintenance costs during the extension period. Call Box Reduction Considerations Changes in technology (as described above) and the motorist landscape since the last call box reductions provide another checkpoint to recalibrate and optimize the call box program. Outlined below are the analysis points which staff considered for a reduction strategy: • Network technology upgrade needed. There is a need to update the current call box hardware, which currently operates on network technology that will become obsolete. Verizon, the current cellular service provider for the Commission’s call box program, is transitioning from its 3G cellular network to 4G/LTE effective December 31, 2019. Therefore, if not upgraded, all Commission call boxes will become inoperable after this date. • Call box usage continues to decline. Demand for this service has declined substantially over the years and continues to do so. • Cell phone ownership is over 90 percent. There is a strong correlation with the decline in call box usage and the growth of mobile phone ownership, which continues to increase in the United States. Additionally, as these devices have become ubiquitous, so has the demand for and development of cell coverage throughout the highway system. Generally, there is cellular coverage across most parts of the county, with some carriers having a stronger coverage footprint than others. Mobile phones now often provide motorists with a convenient and safe alternative to seek assistance should a breakdown occur. • More motorist aid alternatives. While the proliferation of cell phones over the years has had the greater impact to the declining usage of call boxes, other technologies (in-vehicle communication systems such as On Star) and services have also enhanced the quality and quantity of options available for motorists in need. These services also have advanced incident management and response times. FSP is also now routinely deployed within the most congested highway segments. Nearly 129 centerline miles are patrolled by FSP in Riverside County during peak periods. Additionally, Transportation Management Centers, operated by Caltrans and the CHP, monitor cameras and traffic feeds on a 24/7 basis. • Ongoing urban development continues to provide motorists with additional options along the highways. Even without the use of mobile phones, call boxes are no longer the only means of seeking assistance for motorists in need. 132 Agenda Item 14 2019 Call Box Upgrade and Reduction Plan Commission staff understands and appreciates the “lifeline service” nature of the call box program. Within that understanding, various criteria were used to evaluate the existing call box system and develop a CB Plan. The criteria included the following factors: • Call box site types, • Availability of alternatives (cell coverage and FSP), • System usage/call volumes, and • Urban development/proximity to other motorist aid alternatives. Call Box Removal Recommendation: 1) Remove call boxes in the urban areas of Riverside County where other services exist and/or where FSP service is provided (50 call boxes): o 6 call boxes on SR-60 o 6 call boxes on I-215 o 8 call boxes on I-10 o 4 call boxes on SR-91 o 2 call boxes on SR-71 o 24 call boxes on I-15 2) Remove low use call boxes– call box groups averaging 1.5 or fewer calls in FY 2017/18 (16 call boxes): o 3 call boxes on SR-78 (avg. 1.4 calls) o 2 call boxes on SR-79 (avg. 1.5 calls) o 8 call boxes on SR-86 (avg. 1.4 calls) o 2 call boxes on SR-95 (avg. 0 calls) o 1 call box on SR-371 (avg. 0 calls) 3) Remove B and C Site Type call boxes which are no longer compliant with Caltrans standards (17 call boxes): o 1 call box on SR-111 o 14 call boxes on I-10 o 1 call box on SR-243 o 1 call box on SR-79 Call Box Upgrade Recommendation: 1) Upgrade 122 remaining highway and 19 commuter rail station call boxes not identified for removal above (141 total call boxes), and 2) Relocate and upgrade nine B & C site type call boxes in critical areas (7 sites on I-10, 2 sites on SR-243) Cost Impact of Reduction: One-time removal cost of 83 call boxes at $400 per unit = $33,200 Annual savings on CASE maintenance costs = minimum of $38,400 per year Estimated savings on maintenance over five years = $191,800 133 Agenda Item 14 RECOMMENDATION Staff recommends the Commission approve the CB Plan outlined above. This plan reduces the system from the existing 233 call boxes to 150 call boxes, representing a 36 percent reduction. Accordingly, staff recommends approval of Amendment No. 5 to Agreement No. 13-45-102-00 with CASE to extend the term to June 30, 2020 through the reduction/upgrade process and to provide continued call box maintenance in the amount of $100,600, and complete upgrades, relocations, and removals consistent with the CB Plan in the amount of $174,400 for an additional amount of $275,000. Upon Commission approval and execution of the amendment with CASE and CHP and Caltrans review and approval of the CB Plan, a notice to proceed for the decommissioning and permanent removal of identified call boxes and upgrades of remaining call boxes will be issued to CASE. Further, staff recommends approval of the Agreement No. 19-45-059-00 (19-1002101) with SBCTA, in an amount not to exceed $180,000 over a ten year term, for call box call answering services provided by AAMCOM, LLC for current traditional call box calls and for mobile/511 call box calls when that program is launched in the future. Lastly, staff recommends approval of a sunset date for the traditional call box program which is increasingly becoming obsolete. Acknowledging that current trends will continue and in the interest of fiscal responsibility, staff recommends approval of sunsetting the call box program by the next required technology upgrade or by the end of FY 2023/24, whichever comes first. In the meantime, staff will continue to pursue new and innovative alternatives to traditional call boxes. Cost Impact of Upgrades: One-time upgrade cost of 141 call boxes at $950 per unit = $133,950 One-time relocation/reinstallation cost of 9 call boxes at $800 per unit= $7,200 Ongoing Maintenance Costs of Remaining Call Boxes Estimated maintenance costs for 150 call boxes = $69,350 Estimated maintenance costs over five years = $346,600 134 Agenda Item 14 Financial Information In Fiscal Year Budget: Yes N/A Year: FY 2018/19 FY 2019/20+ Amount: $20,500 $434,500 Source of Funds: SAFE Budget Adjustment: No N/A GL/Project Accounting No.: 002174 73301 00000 0000 202 45 73301 $248,000 (Highway CB Plan costs) 2440XX 73301 00000 0000 103 24 73301 $27,000 (Rail CB Plan costs) 002174 81016 00000 0000 202 45 81002 $180,000 (CAC operating costs) Fiscal Procedures Approved: Date: Attachments: 1) Riverside County Map reflecting 2019 Call Box Upgrade and Reduction Plan 2) Agreement No. 19-45-059-00 with San Bernardino County Transportation Authority 3) Agreement No. 13-45-102-05 with CASE Systems, Inc. 135 Map ‐2019 Call Box Program Upgrade and Reduction Plan136 Agreement No. 19-1002101 Page 1 of 9 COOPERATIVE AGREEMENT NO. 19-1002101 BY AND BETWEEN SAN BERNARDINO COUNTY TRANSPORTATION AUTHORITY, ORANGE COUNTY TRANSPORTATION AUTHORITY AND RIVERSIDE COUNTY TRANSPORTATION COMMISSION FOR THE PROVISION OF MOTORIST ASSISTANCE CALL ANSWERING CENTER SOFTWARE CUSTOMIZATION AND SERVICES This Cooperative Agreement (“Agreement”) is made and entered into by and between the San Bernardino County Transportation Authority (“SBCTA”), whose address is 1170 W. 3rd Street, 2nd Floor, San Bernardino, California 92410-1715, Orange County Transportation Authority, ("OCTA"), located at 500 South Main Street, Orange, California 92688 and Riverside County Transportation Commission (“RCTC”), located at 4080 Lemon St, Riverside, California 92501. SBCTA, OCTA and RCTC are each a “Party” and collectively the “Parties”. RECITALS: 1.WHEREAS, The Parties operate Motorist Aid programs, which may include Call Box, Mobile Call Box/511 and Freeway Service Patrol programs; and 2.WHEREAS, SBCTA has engaged two Call Answering Centers (“CONTRACTORS”) to render services for the provision of Motorist Aid Call Answering Center Services for Orange County, Riverside County, and San Bernardino County ("Services"); and 3.WHEREAS, the Services engaged by SBCTA as set forth in Exhibit "A", SBCTA Contract No. C12005 (00-1000553), executed on November 2, 2011(the "2011 Agreement ") are effective through June 30, 2019; and 4.WHEREAS, the Services engaged by SBCTA as set forth in Exhibit "B", SBCTA Contract No. 18-1001961, executed on March 6, 2019 (the "Primary Agreement") is effective through June 30, 2024, with five optional term years; and 5.WHEREAS, this Agreement defines the specific terms and conditions between the Parties only as they may relate to the subject matter and no other purpose; NOW THEREFORE, the Parties enter into this Agreement in order to allocate the costs of paying the CONTRACTORS for the Services under the 2011 Agreement and Primary Agreement. ARTICLE 1. AGREEMENT TERM The Agreement shall commence upon execution by the Parties, and shall continue in full force and effect through June 30, 2029, concurrent with the Primary Agreement, unless otherwise terminated or extended as provided in this Agreement, except that all indemnity and defense obligations shall survive termination of this Agreement. Should one or all of the option term(s) of the Primary Agreement not be exercised, this Agreement shall terminate. ATTACHMENT 2 137 Agreement No. 19-1002101 Page 2 of 9 ARTICLE 2. 2011 AGREEMENT AND PRIMARY AGREEMENT The terms of the 2011 Agreement and Primary Agreement, including without limitation the definitions provided, are incorporated by reference as though fully set forth in this Agreement. The Parties shall use their best efforts to perform and uphold the obligations of this Agreement, the 2011 Agreement, and the Primary Agreement, including, without limitation, the prosecution to conclusion or settlement of any remedy provided by law for any breach by CONTRACTORS. ARTICLE 3. COMPENSATION OCTA and RCTC shall compensate SBCTA quarterly for CONTRACTORS’ performance of the Services pursuant to the 2011 Agreement and Primary Agreement. Compensation to SBCTA will be based on the actual costs of Services rendered for OCTA and RCTC as set forth in Attachment “B” of the 2011 Agreement and Exhibit "B" of the Primary Agreement. 3.1 Notwithstanding any provisions of this Agreement to the contrary, OCTA and SBCTA mutually agree that the total Agreement Not-To-Exceed Amount is Eight Hundred Fifty Thousand Dollars ($850,000), which shall include all amounts payable to the CONTRACTORS as set forth in the 2011 Agreement (from April 1, 2019 through June 30, 2019) and Primary Agreement. 3.2 Notwithstanding any provisions of this Agreement to the contrary, RCTC and SBCTA mutually agree that the total Agreement Not-To-Exceed Amount is One Hundred Eighty Thousand Dollars ($180,000), which shall include all amounts payable to CONTRACTORS as set forth in the 2011 Agreement (from April 1, 2019 through June 30, 2019) and Primary Agreement. ARTICLE 4. CHANGES 4.1 Any changes to this Agreement,, including but not limited to Compensation to SBCTA, must be written and executed by SBCTA and OCTA and/or RCTC, as appropriate. 4.2 The Services, 2011 Agreement and Primary Agreement shall be subject to changes by additions, deletions, or revisions made by agreement of SBCTA and OCTA and/or RCTC, as appropriate. SBCTA will be responsible for advising CONTRACTORS of any such change(s) by written notification describing the change(s). This notification will not be binding on SBCTA and OCTA and/or RCTC, as appropriate, until SBCTA has approved an amendment to the 2011 Agreement and/or Primary Agreement, as appropriate, in accordance with SBCTA’s Contracting and Procurement Policy, No. 11100. 4.3 Promptly after such written notification of change is given to CONTRACTOR(S) by SBCTA, SBCTA and CONTRACTOR(S) will attempt to negotiate a mutually agreeable adjustment to compensation, time of performance, or other change(s) agreed to by SBCTA and OCTA and/or RCTC, and amend the 2011 Agreement and/or Primary Agreement, as appropriate, accordingly. SBCTA shall provide notification to OCTA and/or RCTC, as appropriate, when such change(s) is agreed to by SBCTA and CONTRACTOR(S). ARTICLE 5. TERMINATION 5.1 RCTC and OCTA may terminate this Agreement, in whole or in part, by giving at least thirty (30) calendar days written notice to SBCTA specifying the date of termination (the “Notice of Termination”). SBCTA may terminate this Agreement, in whole or in part, by giving at least thirty (30) calendar days written notice to RCTC and OCTA specifying the date of termination. 138 Agreement No. 19-1002101 Page 3 of 9 In the event that OCTA terminates this Agreement, the termination shall only be effective as to the Services provided within the geographic area encompassed by OCTA. In the event that RCTC terminates this Agreement, the termination shall only be effective as to the Services provided within the geographic area encompassed by RCTC. SBCTA shall notify CONTRACTOR(S) of such termination. This Agreement shall terminate on the effective date of either Party’s Notice of Termination. Termination under this Article 5 may be for convenience or because of the failure of the other Party to perform its duties and obligations under this Agreement, including, but not limited to, the failure of SBCTA to obtain timely and full performance of the Services. In the event OCTA terminates this Agreement, SBCTA shall, in accordance with the 2011 Agreement and/or Primary Agreement, terminate the obligations and rights of the CONTRACTOR(S) under the 2011 Agreement and/or Primary Agreement as to the geographical area encompassed within OCTA’s jurisdiction and shall, if requested by OCTA, assign any and all rights to performance of the Services under the 2011 Agreement and/or Primary Agreement to OCTA. In the event RCTC terminates this Agreement, SBCTA shall, in accordance with the 2011 Agreement and/or Primary Agreement, terminate the obligations and rights of the CONTRACTOR(S) under the 2011 Agreement and/or Primary Agreement as to the geographical area encompassed within RCTC’s jurisdiction and shall, if requested by RCTC, assign any and all rights to performance of the Services under the 2011 Agreement and/or Primary Agreement to RCTC. In the event this Agreement is terminated by SBCTA and upon written request of OCTA and/or RCTC, SBCTA shall, in accordance with the 2011 Agreement and/or Primary Agreement, assign the relevant rights and obligations of the 2011 Agreement and/or Primary Agreement to OCTA and/or RCTC. Should OCTA and/or RCTC terminate the Agreement for any reason, OCTA and/or RCTC shall bear all reasonable costs associated with transitioning the performance of Services to another location. 5.2 Upon receipt of the written Notice of Termination, the terminating Party shall be entitled to receive certain Products from SBCTA, as defined in the 2011 Agreement and/or Primary Agreement. 5.3 Effect of Termination for Convenience or Cause - If the termination is for the convenience or cause of OCTA and/or RCTC, OCTA and/or RCTC, as appropriate, shall compensate SBCTA for Services rendered by CONTRACTOR(S) for the benefit of the terminating Party through the effective date of termination as provided in the Notice of Termination and in accordance with Article 5 of this Agreement. Such compensation shall be pro-rated, as applicable to the terminating Party, up through the termination effective date. In the event SBCTA is the terminating Party, SBCTA shall compensate the CONTRACTOR(S) for Services provided through the effective date of termination as provided in the Notice of Termination, in accordance with the 2011 Agreement and/or Primary Agreement. 5.4 Cumulative Remedies - The rights and remedies of the Parties in this Section are in addition to any other rights and remedies provided by law or under this agreement. 139 Agreement No. 19-1002101 Page 4 of 9 ARTICLE 6. CALL ANSWERING CENTER MEETINGS 6.1 The Parties' representatives shall participate in call answering center meetings with the CONTRACTORS as further described in the 2011 Agreement and Primary Agreement. ARTICLE 7. PERFORMANCE DELAYS 7.1 Excusable Delays. Should any Party be delayed or prevented from the timely performance of any act required by this Agreement by reason of acts of God or of the public enemy, acts or omissions of another Party or other governmental agencies, fires, floods, epidemics, quarantine restrictions, strikes, freight embargoes or unusually severe weather, performance of such act shall be excused for the period of such delay 7.2 Written Notice - If a Party believes it is entitled to an extension of time due to conditions set forth in Article 44 of the Primary Agreement, it shall provide written notice to the other Party within seven (7) working days from the time the Party knows, or reasonably should have known, that performance of the act will be delayed due to such conditions.. 7.3 Mutual Agreement - Performance of any obligation under this Agreement may be delayed upon mutual agreement of the Parties. ARTICLE 8. INDEPENDENT CONTRACTOR The Services under the 2011 Agreement and Primary Agreement shall be performed by one or both CONTRACTORS, or under their supervision. CONTRACTORS will determine the means, methods and details of performing the Services subject to the requirements of the 2011 Agreement and Primary Agreement. SBCTA has retained CONTRACTORS on an independent contractor basis and not as employees, agents or representatives of SBCTA, OCTA or RCTC. The Parties acknowledge that: (1) CONTRACTORS retain the right to perform similar or different services for others during the term of the 2011 Agreement and Primary Agreement; (2) Any additional personnel performing the Services under the 2011 Agreement and Primary Agreement on behalf of CONTRACTORS shall at all times be under CONTRACTORS exclusive direction and control; (3) CONTRACTORS shall pay all wages, salaries and other amounts due such personnel in connection with their performance of Services and as required by law; and (4) CONTRACTORS shall be responsible for all reports and obligations respecting such personnel, including but not limited to, social security taxes, income tax withholdings, unemployment insurance, disability insurance, and workers’ compensation insurance. ARTICLE 9. INDEMNITY The Parties each agree to indemnify, defend (with legal counsel reasonably approved by the indemnified Party) and hold harmless the other Parties and their officers, employees, agents and volunteers (“Indemnitees”), from any and all claims, suits, demands, liabilities, losses, damages, injuries or actions of every name, kind and description brought for or on account of injury to persons or property, including wrongful death, in any manner arising out of or incident to anything done or omitted to be done by the indemnifying Party under or in connection with any work, authority or jurisdiction delegated to the indemnifying Party under this AGREEMENT. ARTICLE 10. ATTORNEYS’ FEES If any legal action is instituted to enforce or declare any Party's rights under the Agreement, each Party, including the prevailing Party, must bear its own costs and attorneys’ fees. This Article shall not apply to those costs and attorney's fees directly arising from any third party legal action against a Party that is 140 Agreement No. 19-1002101 Page 5 of 9 payable under the Indemnity provision of the Agreement. ARTICLE 11. GOVERNING LAW AND VENUE This Agreement shall be subject to the law and jurisdiction of the State of California. The Parties agree that the venue for any action or claim brought by any Party to this Agreement will be the Superior Court of California, San Bernardino County. Each Party hereby waives any law or rule of court which would allow them to request or demand a change of venue. If any action or claim concerning this Agreement is brought by any third party, the Parties agree to use their best efforts to obtain a change of venue to the Superior Court of California, San Bernardino County. ARTICLE 12. PRECEDENCE 12.1 The Agreement consists of these Agreement Articles, and Exhibit A - “2011 Agreement” and Exhibit B - “Primary Agreement”, all of which are incorporated into this Agreement by this reference. 12.2 The following order of precedence shall apply: first, the Agreement Articlesand second, Exhibit A and Exhibit B;. 12.3 In the event of an express conflict between the documents listed in this Article, or between any other documents which are a part of the Agreement, OCTA and RCTC shall notify SBCTA in writing within three (3) business days of its discovery of the conflict and shall comply with SBCTA's resolution of the conflict. ARTICLE 13. COMMUNICATIONS AND NOTICES Notices sent by mail shall be by United States Mail, postage paid, certified mail (return receipt requested). Any and all notices permitted or required to be given hereunder shall be deemed duly given and received: (a) upon actual delivery, if delivery is personally made or if made by fax or email during regular business hours; (b) the first business day following delivery by fax or email when not made during regular business hours; (c) upon actual delivery if made by personal service or overnight delivery; or (d) on the fourth business day after deposit of such notice into the United States Mail. Each such notice shall be sent to the respective Party at the address indicated below or to any other address as the respective Parties may designate from time to time by a notice given in accordance with this Article. OCTA and RCTC shall notify SBCTA of any contact information changes within ten (10) business days of the change. To: OCTA To: RCTC To: SBCTA 550 S. Main Street P.O. Box 14184 (Mailing Address) 4080 Lemon St. P.O. Box 12008 Riverside, CA 92502-2208 1170 W. 3rd Street, 2nd Floor Orange, CA 92863-1584 San Bernardino, CA 92410- 1715 Attn: Patrick Sampson Attn: Brian Cunanan Attn: Nicole Soto Email: psampson@octa.net Email: bcunanan@rctc.org Email: nsoto@gosbcta.com Phone: (714) 560-5425 Phone: (951) 787-7943 Phone: (909) 884-8276 2nd Contact: Sue Ding 2nd Contact: Michelle McCamish Copy: Procurement Email: sding@octa.net Email: mmccamish@rctc.org Email: procurement@gosbcta.com 141 Agreement No. 19-1002101 Page 6 of 9 Phone: (714) 560-5631 Phone: (951) 778-1094 Phone: (909) 884-8276 ARTICLE 14. AMENDMENTS This Agreement may only be changed by a written amendment duly executed by the Parties. Work authorized under an amendment shall not commence until the amendment has been duly executed. ARTICLE 15. ENTIRE DOCUMENT This Agreement constitutes the sole and only agreement of the Parties relating to its subject matter and supersedes any prior understandings, written or oral, between the Parties. ARTICLE 16. INVALIDITY; SEVERABILITY If any portion of this Agreement is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. ARTICLE 17. NO WAIVER Failure of the Parties hereto to insist on any one occasion upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such term, covenant or condition, nor shall any waiver or relinquishment of any rights or power hereunder at any one time or more times be deemed a waiver or relinquishment of such other right or power at any other time or times. ARTICLE 18. EFFECTIVE DATE This Agreement shall be made effective upon execution by both Parties. -------------------------SIGNATURES ARE ON THE FOLLOWING PAGE------------------------- 142 Agreement No. 19-1002101 Page 7 of 9 IN WITNESS WHEREOF, the Parties hereto have executed this Agreement below. ORANGE COUNTY TRANSPORATION AUTHORITY SAN BERNARDINO COUNTY TRANSPORTATIONAUTHORITY By: By: Darrell E. Johnson Chief Executive Officer Darcy McNaboe President, Board of Directors Date: Date: RIVERSIDE COUNTY TRANSPORATION COMMISSION By: APPROVED AS TO FORM Anne Mayer Executive Officer Date: By: Julianna K. Tillquist Assistant General Counsel Date: CONCURRENCE By: Jeffery Hill Procurement Manager Date: 143 Agreement No. 19-1002101 Page 8 of 9 EXHIBIT "A” 2011 Agreement 144 Agreement No. 19-1002101 Page 9 of 9 EXHIBIT "B” Primary Agreement 145 1 Agreement No. 13-45-102-05 RIVERSIDE COUNTY SERVICE AUTHORITY FOR FREEWAY EMERGENCIES AMENDMENT NO. 5 TO AGREEMENT FOR CALL BOX SERVICES WITH CASE SYSTEMS, INC. 1.PARTIES AND DATE This Amendment No. 5 to the Agreement for Call Box Services is made and entered into as of __________________, 2019, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION ("RCTC") acting as the RIVERSIDE COUNTY SERVICE AUTHORITY FOR FREEWAY EMERGENCIES (“RC SAFE") and CASE SYSTEMS, INC. ("Contractor), a California corporation. 2. RECITALS 2.1 RC SAFE and Contractor have entered into an agreement dated June 24, 2013 for the purpose of providing call box installation, repair, maintenance, and removal services ("Master Agreement"). 2.2. RC SAFE and Contractor have entered into an amendment dated June 29, 2016 for the purpose of extending the term of the Master Agreement, providing additional compensation for the continued provision of call box services, and including additional language pertaining to registration with the Department of Industrial Relations (“Amendment No. 1”). 2.2. RC SAFE and Contractor have entered into an amendment dated November 3, 2016, for the purpose of providing additional compensation for the call box upgrade, removal services, and other call box services, including but not limited to, the reduction of the RC SAFE motorist aid call box system (“Amendment No. 2”). 2.3 RC SAFE and Contractor have entered into an amendment dated July 1, 2017, for the purpose of extending the term of the Master Agreement (“Amendment No. 3”). 2.4 RC SAFE and Contractor have entered into an amendment dated June 30, 2018, for the purpose of providing additional compensation for call box maintenance services and extending the term of the Master Agreement (“Amendment No. 4”). 2.4 The parties now desire to amend the Master Agreement in order to provide additional compensation for the call box upgrade, removal services, and other call box services, including but not limited to, the reduction of the RC SAFE motorist aid call box system and to extend the term of the Master Agreement. ATTAHMENT 3 146 2 3.. TERMS 3.1 The term of the Master Agreement shall be extended for an additional term of twelve months, ending on June 30, 2020, unless earlier terminated as provided in the Master Agreement. 3.2 The maximum compensation to be provided under this Amendment No. 5 for Services provided through the extended term shall not exceed Two Hundred Seventy-Five Thousand Dollars and Zero Cents ($275,000). 3.3 Except as amended by the Amendment, all provisions of the Master Agreement, as amended by Amendment Nos. 1, 2, 3, and 4, including without limitation the indemnity and insurance provisions, shall remain in full force and effect and shall govern the actions of the parties under this Amendment No. 5. 3.4 This Amendment No. 5 shall be governed by the laws of the State of California. Venue shall be in Riverside County. 3.5 This Amendment No. 5 may be signed in counterparts, each of which shall constitute an original. [SIGNATURES ON FOLLOWING PAGE] 147 3 SIGNATURE PAGE TO AMENDMENT NO. 5 TO AGREEMENT FOR CALL BOX SERVICES WITH CASE SYSTEMS, INC. Agreement No. 13-45-102-05 IN WITNESS WHEREOF, the parties hereto have entered into this Amendment No. 4 as of the date first herein above written. RIVERSIDE COUNTY CASE SYSTEMS, INC., TRANSPORTATION COMMISSION a California corporation ACTING AS THE RIVERSIDE COUNTY SERVICE AUTHORITY FOR FREEWAY EMERGENCIES By:_____________________________ By:__________________________ Anne Mayer, Executive Director Signature __________________________ Name __________________________ Title APPROVED AS TO FORM ATTEST By:______________________ By:________________________ Best Best & Krieger LLP Counsel to the Riverside County Transportation Commission Its: _______________________ * A corporation requires the signatures of two corporate officers. One signature shall be that of the chairman of board, the president or any vice president and the second signature (on the attest line) shall be that of the secretary, any assistant secretary, the chief financial officer or any assistant treasurer of such corporation. If the foregoing persons are not the intended signators, evidence of signature authority shall be provided to the Commission. 148 CALL BOX PROGRAM OPTIMIZATION Budget and Implementation Committee February 25, 2019 Brian Cunanan, Commuter and Motorist Assistance Manager External Affairs Department 1 Call Box Program Cellular Network Obsolescence 2 •Current Verizon 3G Network will become obsolete on January 2020 •Cellular modem chipset to be upgraded –$822 per call box Call Box Program Current Deployment = 233 3 –$221,400 One-time upgrade (~$822 per call box) –$104,000 Annual maintenance (~$457 per call box) call boxes Call Box Program Current Deployment = 233 4 –$221,400 One-time upgrade (~$822 per call box) –$104,000 Annual maintenance (~$457 per call box) call boxes $741,400 = the projected spend for the call box program over the next five years at current inventory levels FY20/ FY21/ FY22/ FY23/ FY24 Call Box Program Declining Demand/Use 5 Average 4.5 calls per call box per year 23,683 20,729 15,532 9,595 7,543 6,574 5,934 5,251 5,043 5,337 4,685 3,882 3,667 2,650 1,864 1,064 1,045 975 742 660 617 613 611 608 580 570 548 545 241 238 0 200 400 600 800 1,000 1,200 0 5,000 10,000 15,000 20,000 25,000 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 Calls Call Boxes Call Box Program Other Considerations 6 •Caltrans has recommended removal of all Site Type B and C call boxes •Proliferation of cell phone ownership •Continuous development across the county •Growing cellular network coverage •Roadside assistance alternatives ~95% of American adults own a cellphone -Pew Research Center 7 Western Riverside County Call Box Program 8Western Riverside County Source: https://www.whistleout.com/CellPhones/Guides/Coverage 9 Eastern Riverside County 10Source: https://www.whistleout.com/CellPhones/Guides/CoverageEastern Riverside County Call Box Program Call Box Upgrade & Reduction Plan 11 Removals •Urban areas/ Freeway Service Patrol •Low use call boxes •Remove all B and C Site Type call boxes, except Upgrades •Remaining call boxes (150 call boxes), including **B & C call box units in critical areas (7 sites on I-10 and 2 sites on SR-243) 12 Call Box Upgrade & Reduction Plan Map Call Box Program Projected Schedule 13 Board approval of reduction plan. Submit the board approved reduction plan to the CHP and Caltrans for review and approval. Upon CHP and Caltran’s approval, a NTP will be issued to CASE for the decommission and permanent removal of the identified call boxes and upgrades for remaining units. CASE performs call box upgrades and assessments CASE performs call box removals Staff provides call box project update to Commission CHP and Caltrans two month review period. Mar 2019 Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2020 Call Box Program By the numbers 14 Call Box Optimization Recommendation Summary •Reduce from 233 to 150 call boxes (36% reduction) •~$79,000 in savings one-time for upgrades •~$38,000 in savings annually for maintenance •Sunset call box program in five years $741,400 = the projected spend for the call box program over the next five years at current inventory levels $484,800 = the projected spend for the call box program over the next five years with approval of reduction/upgrade plan. $256,600 in savings Call Box Program Staff Recommendation: 15 •Approve the implementation of Call Box Upgrade and Reduction Plan; •Approve Agreement ($180,000) with SBCTA (and OCTA)for shared call answering center services for call box operations and future 511 motorist assistance services •Approve Amendment ($275,000) with CASE Systems, Inc.to provide call box removal and upgrade services, and for the continued provision of maintenance services through June 30, 2020; •Approve sunsetting the Call Box Program at the end of Fiscal Year 2023/24 or in conjunction with the next system network upgrade, whichever comes first; •Authorize the Executive Director pursuant to legal counsel review, to execute the agreements on behalf of the Commission; and Forward to the Commission for final action. QUESTIONS 16 AGENDA ITEM 15 Agenda Item 15 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 25, 2019 TO: Budget and Implementation Committee FROM: Lisa Mobley, Clerk of the Board THROUGH: John Standiford, Deputy Executive Director SUBJECT: Election of Officers for the Budget and Implementation Committee STAFF RECOMMENDATION: This item is for the Budget and Implementation Committee to conduct an election of officers for 2019 – Chair and Vice Chair. BACKGROUND INFORMATION: The election of officers for the full Commission and its Committees are held on an annual basis. Commissioners Rusty Bailey (Chair) and Linda Krupa (Vice Chair) were elected as the Budget and Implementation Committee’s officers in February 2018. Once the election for 2019 is conducted, the new Chair and Vice Chair will immediately assume the positions. Past Chairs of the Budget and Implementation Committee are as follows: 2018 – Rusty Bailey, City of Riverside 2017 – Jan Harnik, City of Palm Desert 2016 – Bob Magee, City of Lake Elsinore 2015 – Bob Magee, City of Lake Elsinore 2014 – Douglas Hanson, City Indian Wells 2013 – Ella Zanowic, City of Calimesa 2012 – Rick Gibbs, City of Murrieta 2011 – Scott Matas, City of Desert Hot Springs 2010 – Greg Pettis, City of Cathedral City 2009 – Mary Craton, City of Canyon Lake 2008 – Steve Adams, City of Riverside 2007 – Rick Gibbs, City of Murrieta 149