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02 February 22, 2016 Budget & implementationRIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE MEETING AGENDA TIME: 9:30 a.m. DATE: Monday, February 22, 2016 LOCATION: BOARD ROOM County of Riverside Administrative Center 4080 Lemon Street, First Floor, Riverside  COMMITTEE MEMBERS  Bob Magee, Chair / Natasha Johnson, City of Lake Elsinore Jan Harnik, Vice Chair / Susan Marie Weber, City of Palm Desert Lloyd White / Mike Lara, City of Beaumont Ella Zanowic / Joyce McIntire, City of Calimesa Dawn Haggerty / Jordan Ehrenkranz, City of Canyon Lake Greg Pettis / Shelley Kaplan, City of Cathedral City Steven Hernandez / To Be Appointed, City of Coachella Scott Matas / Russell Betts, City of Desert Hot Springs Linda Krupa / Paul Raver, City of Hemet Dana Reed / Douglas Hanson, City of Indian Wells Rick Gibbs / Jonathan Ingram, City of Murrieta Rusty Bailey / Andy Melendrez, City of Riverside Michael Naggar / Michael McCracken, City of Temecula John F. Tavaglione, 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 Comments are welcomed by the Committee. If you wish to provide comments to the Committee, please complete and submit a Speaker Card to the Clerk of the Board. COMM-BI-00030 Tara Byerly From: Sent: To: Cc: Subject: Importance: Tara Byerly Wednesday, February 17, 2016 3:08 PM Tara Byerly Jennifer Harmon RCTC: Budget and Implementation Committee Agenda -02.22.2016 High Good afternoon Budget and Implementation Committee Members: Attached below is the link to the Budget and Implementation Committee Agenda for the meeting scheduled @ 9:30 a.m. on Monday, February 22. http://www.rctc.org/uploads/media items/budget-and-implementation-committe-february-22-2016.original.pdf Please let me know if you have any questions. Thank you. Respectfully, <Tara S. <Byer{y Deputy Clerk of the Board Riverside County Transportation Commission 4080 Lemon Street, 3rd Floor Riverside, CA 92501 (951) 787-7141 1 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 22, 2016 BOARD ROOM County 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. PLEDGE OF ALLEGIANCE 3. ATTENDANCE / ROLL CALL 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 22, 2016 Page 2 5. APPROVAL OF MINUTES – OCTOBER 26, 2015 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 period ended December 31, 2015; and 2) Forward to the Commission for final action. 7B. QUARTERLY SALES TAX ANALYSIS Page 8 Overview This item is for the Committee to: 1) Receive and file the sales tax analysis for Quarter 3 2015 (3Q 2015); and 2) Forward to the Commission for final action. 7C. QUARTERLY INVESTMENT REPORT Page 17 Overview This item is for the Committee to: 1) Receive and file the Quarterly Investment Report for the quarter ended December 31, 2015; and 2) Forward to the Commission for final action. Budget and Implementation Committee February 22, 2016 Page 3 7D. SINGLE SIGNATURE AUTHORITY REPORT Page 79 Overview This item is for the Committee to: 1) Receive and file the Single Signature Authority report for the second quarter ended December 31, 2015; and 2) Forward to the Commission for final action. 8. FISCAL YEAR 2015/16 MID-YEAR BUDGET ADJUSTMENT Page 81 Overview This item is for the Committee to: 1) Approve an increase of $406,000 in Fiscal Year 2015/16 expenditures for mid-year budget adjustments; and 2) Forward to the Commission for final action. 9. PROPOSED POLICY GOALS AND OBJECTIVES FOR FISCAL YEAR 2016/17 BUDGET Page 83 Overview This item is for the Committee to: 1) Approve the proposed Commission Policy Goals and Objectives for the Fiscal Year 2016/17; and 2) Forward to the Commission for final action. 10. STATE TRANSPORTATION IMPROVEMENT PROGRAM REVISION Page 92 Overview This item is for the Committee to: 1) Approve reducing the Interstate 15/French Valley Parkway interchange project State Transportation Improvement Program (STIP) program funds from $47.6 million to $15,346,000 in accordance with the California Transportation Commission’s (CTC) revised 2016 STIP Fund Estimate; 2) Transfer $2,920,000 of STIP funding from the I-15/Railroad Canyon Road and Franklin Street interchange project to the I-15/French Valley Parkway interchange project or State Route 60 truck climbing/descending lane project, as determined by staff, in the event CTC does not allow new project programming; Budget and Implementation Committee February 22, 2016 Page 4 3) Authorize the Executive Director to modify the STIP revision submittal based on the ongoing nature of the CTC working with each county transportation commission to reduce STIP programming by the required amount of approximately $754 million statewide and the Commission’s objective to minimize reduction in STIP programming; and 4) Forward to the Commission for final action. 11. CALIFORNIA TRANSPORTATION COMMISSION’S APPROVAL OF THE SOUTHERN CALIFORNIA ASSOCIATION OF GOVERNMENTS METROPOLITAN PLANNING ORGANIZATION ACTIVE TRANSPORTATION PROGRAM CYCLE 2 PROGRAM OF PROJECTS FOR RIVERSIDE COUNTY Page 95 Overview This item is for the Committee to: 1) Receive and file a report on the California Transportation Commission’s (CTC) approval of the Southern California Association of Governments (SCAG) Metropolitan Planning Organization (MPO) Active Transportation Program (ATP) Cycle 2 program of projects; 2) Approve funding the city of Coachella’s ATP Cycle 2 Bicycle and Pedestrian improvements project with $2.2 million of SB 821 funds; and 3) Forward to the Commission for final action. 12. RIVERSIDE COUNTY 2017 FEDERAL TRANSPORTATION IMPROVEMENT PROGRAM FINANCIAL RESOLUTION Page 98 Overview This item is for the Committee to: 1) Approve Resolution No. 16-001, “Resolution of the Riverside County Transportation Commission Certifying Riverside County has Resources to Fund Projects in the Federal Fiscal Years 2016/17 Through 2021/22 Transportation Improvement Program and Affirming Commitment to Implement All Projects in the Program”; and 2) Forward to the Commission for final action. Budget and Implementation Committee February 22, 2016 Page 5 13. CITY OF CORONA'S SURFACE TRANSPORTATION PROGRAM REPROGRAMMING REQUEST Page 113 Overview This item is for the Committee to: 1) Approve the city of Corona’s (Corona) request to reprogram $943,000 of federal Surface Transportation Program (STP) funds from the Magnolia Avenue landscaped median project to the Magnolia Avenue bridge widening improvement project; 2) Authorize staff to include the Magnolia Avenue bridge widening improvement project in the Federal Transportation Improvement Program (FTIP), and accordingly delete the Magnolia Avenue landscaped median project from the FTIP; and 3) Forward to the Commission for final action. 14. COMMUTER RAIL GRANT RESOLUTIONS Page 118 Overview This item is for the Committee to: 1) Adopt Resolution No. 16-002, “Resolution of the Riverside County Transportation Commission Regarding Authorization for the Execution of the Certifications and Assurances and Authorized Agent Forms for the Low Carbon Transit Operation Program”; 2) Adopt Resolution No. 16-003, “Resolution of the Riverside County Transportation Commission Regarding Authorization for the Execution of the Low Carbon Transit Operations Program Project: Perris valley line Station Passenger Upgrades in the Amount of $391,049”; 3) Adopt Resolution No. 16-005, “Resolution of the Riverside County Transportation Commission Approving the Allocation of FY 15/16 Proposition 1B-6861-0002 California Transit Security Grant Program-California Transit Assistance Funds to the RCTC Commuter Rail Program and Designation of Authorized Agent”; and 4) Forward to the Commission for final action. 15. 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. Budget and Implementation Committee February 22, 2016 Page 6 16. ADJOURNMENT AND THE NEXT MEETING The next Budget and Implementation Committee meeting is scheduled to be held at 9:30 a.m., Monday, March 28, 2016, Board Chambers, First Floor, County Administrative Center, 4080 Lemon Street, Riverside. RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE ROLL CALL FEBRUARY 22, 2016 Present County of Riverside, District II County of Riverside, District 111 City of Beaumont City of Calimesa City of Canyon Lake City of Cathedral City City of Coachella City of Desert Hot Springs City of Hemet City of Indian Wells City of lake Elsinore City of Murrieta City of Palm Desert City of Riverside City of Temecula (j :; f; JA LI ;z( J1( ~ % ~ JZ( . 71' Absent ~ c:J D 0 D JK' D 0 D 0 D (j D Cl ~\\l:ul, q •»Y.<3 ~.M • RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE SIGN-IN SHEET FEBRUARY 22, 2016 NAME/ ,-AGENCY E MAIL ADDRESS ~ _-ucZ-~-/],a c-.//,? . -/?~ )~IZ /;,f< L ~JU-~r- (7~t(iq~ I «JA~ Wf4Cv-<./ k/<I (''O &~ ..z,.........,.0.....,1 c.: ~.~.A. f!:tY~ Iii ll /,:./ LJL-.. (c.J~ ElsrN~ 0At-J 1 L 1?J11v_ UA I M \)::-~ ICT , t,-1/,"fr;-c{~ f;cn 1fM ·Ff (ve¥> /rJ;1 v <:::,,.-~! _l /,L,t)/T .ff/~ ~'f"Z:,C'l '}1-cxr ~;fl~--~~ ~ fi IC K G /(£"' /?S /11 {/ rf:... /!-( e r A-/ ..... <:::;(" .oll·v-ktAN.Jl.tv-.. Ctpfw_A \r-ri y c ,-l\. ... '-- I :~-~ _Yl7L' M ., .... _..L __ ••. · . .c.c___..-:. .-< -d 7 /j (~ .. -~ 1X:: fj £1 '-~'._./ ! l Jr.1i..c.\1A, l~JJ-'\.£~ -rJ,J1 .. -. w~'\.r r)Q --v -·· - I B :. ' i AGENDA ITEM 5 MINUTES RIVERSIDE COUNTY TRANSPORTATION COMMISSION    BUDGET AND IMPLEMENTATION COMMITTEE    Monday, October 26, 2015    MINUTES    1. CALL TO ORDER    The meeting of the Budget and Implementation Committee was called to order by  Chair Bob Magee at 9:30 a.m., in the Board Room at the County of Riverside  Administrative Center, 4080 Lemon Street, First Floor, Riverside, California, 92501.    2. PLEDGE OF ALLEGIANCE    At this time, Chair Magee led the Budget and Implementation Committee in a flag  salute.    3. ROLL CALL    Members/Alternates Present Members Absent     Rusty Bailey Dawn Haggerty  Rick Gibbs John Tavaglione  Douglas Hanson Chuck Washington  Jan Harnik   Steven Hernandez*   Shelley Kaplan   Brenda Knight*   Linda Krupa   Bob Magee   Scott Matas   Michael Naggar   Ella Zanowic   *Arrived after the meeting was called to order    4. PUBLIC COMMENTS    There were no requests to speak from the public.       RCTC Budget and Implementation Committee Minutes  October 26, 2015  Page 2  5. APPROVAL OF MINUTES – SEPTEMBER 28, 2015    M/S/C (Harnik/Gibbs) to approve the minutes of September 28, 2015 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.    At this time, Commissioner Brenda Knight joined the meeting.    M/S/C (Harnik/Gibbs) to approve the following Consent Calendar item(s):    7A. SINGLE SIGNATURE AUTHORITY REPORT    1) Receive and file the Single Signature Authority report for the first quarter  ended September 30, 2015; and  2) Forward to the Commission for final action.    8. FUNDING PLAN FOR INTERSTATE 15 EXPRESS LANES PROJECT    Theresia Trevino, Chief Financial Officer, presented the funding plan for Interstate 15  Express Lanes project (I‐15 Project).    In response to Commissioner Harnik’s request for clarification, Anne Mayer replied the  majority of the corridor will have two tolled express lanes in each direction.  However,  there are sections near the 15/91 interchange where only one tolled express lane will go  through and the other tolled express lane will connect to SR‐91.      In response to Commissioner Rusty Bailey’s question regarding the use of Congestion  Mitigation and Air Quality Improvement (CMAQ) funds, Anne Mayer stated CMAQ funds  have a limited use at the local level and discussed how the Commission utilized CMAQ  funds as a major funding source for grade separations.  CMAQ and Surface  Transportation Program (STP) funds have been allocated to other projects and staff will  need to focus the federal formula dollars on the larger projects.     RCTC Budget and Implementation Committee Minutes  October 26, 2015  Page 3  In response to Chair Magee’s question regarding the Transportation Infrastructure  Finance and Innovation Act (TIFIA) program letter of interest, Theresia Trevino stated  assuming the Commission is successful with the letter of interest, it will be invited to  submit an application by mid‐2016, which will lead to financial close in summer of 2017.    M/S/C (Zanowic/Harnik) to:    1) Provide input and direct staff regarding the preliminary funding plan for  the Interstate 15 Express Lanes project;  2) Approve $60 million in federal Congestion Mitigation and Air Quality  (CMAQ) funds for costs related to the I‐15 Express Lanes project and  direct staff to program the funding in the 2015 Federal Transportation  Improvement Program (FTIP); and  3) Forward to the Commission for final action.    At this time, Commissioner Steven Hernandez joined the meeting.    9. CALIFORNIA TRANSPORTATION COMMISSION’S ACTIVE TRANSPORTATION PROGRAM  CYCLE 2 FOR FISCAL YEARS 2016/17 – 2018/19    Shirley Medina, Planning and Programming Director, presented the California  Transportation Commission’s Active Transportation Program (ATP) Cycle 2 for  FYs 2016/17 – 2018/19.    Anne Mayer explained these programs are very important to this region and the local  jurisdictions.  She explained this is a significant amount of funding being directed  towards bicycle and pedestrian facilities.  ATP Cycle 3 applications will be coming up  next spring and staff will help local jurisdictions with their application packets.    M/S/C (Matas/Harnik) to:    1) Approve the Riverside County Active Transportation Program (ATP)  projects for inclusion in the Metropolitan Planning Organization (MPO)  ATP Regional Program Cycle 2 consisting of the highest scoring projects  identified in Table 2 in the total amount of $9,204,000;  2) Approve programming ATP and/or a combination of SB 821 and federal  funds of up to $2,293,000 for one or more projects scoring 80/90 points  in order to maximize Riverside County MPO ATP funds;  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 January 2016;  4) Submit the MPO ATP regional projects to SCAG for inclusion in the  Federal Transportation Improvement Program (FTIP) programming;  RCTC Budget and Implementation Committee Minutes  October 26, 2015  Page 4  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.    10. METROLINK BUDGET ACTIONS TO SUPPORT LOCOMOTIVE PROCUREMENTS    Sheldon Peterson, Rail Manager, presented the Metrolink budget actions to support  locomotive procurements.    M/S/C (Zanowic/Hanson) to:    1) Approve Commission participation in the Metrolink lease of BNSF  Railway (BNSF) locomotives in the amount of $1,585,231;  2) Approve Commission participation in the optional procurement of 17  new Metrolink Tier IV locomotives in the amount of $2.7 million;  3) Approve Memorandum of Understanding (MOU) No. 16‐25‐014‐02,  Amendment No. 1 to MOU No. 16‐25‐014‐01, with the Southern  California Regional Rail Authority (SCRRA) for additional funding in the  amount of $1,585,231 related to the locomotives lease for a total  operating budget subsidy amount of $15,577,255 and for authorization  to use $2.7 million of Fiscal Year 2015/16 or carryover  rehabilitation/renovation funds for the procurement of the Tier IV  locomotives;  4) Authorize the Chair or Executive Director, pursuant to legal counsel  review, to execute the agreement on behalf of the Commission; and  5) Forward to the Commission for final action.    11. COMMISSIONERS / EXECUTIVE DIRECTOR REPORT    Commissioner Krupa briefed the Committee on her testimony before the Legislative  Transportation Committee in Ontario, along with Commissioner John Benoit, noting  both the democrats and republicans on the panel were like minded that action needs to  be taken in Sacramento as all the jurisdictions reporting have a dire need for increased  transportation funding to get the infrastructure back to where it should be.  She  suggested each city submit a letter to the Legislative Transportation Committee  concerning its greatest hurdles.    Anne Mayer announced the I‐215 Central project grand opening ceremony is scheduled  for October 30.       RCTC Budget and Implementation Committee Minutes  October 26, 2015  Page 5  12. ADJOURNMENT    There being no further business for consideration by the Budget and Implementation  Committee, the meeting was adjourned at 9:55 a.m.    Respectfully submitted,    Jennifer Harmon  Clerk of the Board  AGENDA ITEM 7A RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 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 period ended December 31, 2015; 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 activities. The operating statement shows the sales tax revenues for the second quarter at 29 percent of the budget. This is a result of Governmental Accounting Standards Board (GASB) Statement No. 33. GASB 33 requires sales tax revenues to be accrued for the period in which it is collected at the point of sale. The State Board of Equalization (SBOE) 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 for October 2015. On a cash basis, the Measure A and Local Transportation Fund sales tax revenues are 2.91 and 2.58 percent higher, respectively than the same period last fiscal year. State Transit Assistance Fund receipts through the second quarter have not yet been submitted by the SBOE. Staff will continue to monitor the trends in the sales tax receipts and report to the Commission any necessary adjustments. Federal, state, and local revenues are 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 local reimbursements reflect the reversal of the FY 2014/15 Agenda Item 7A 1 accrued revenues at the beginning of FY 2015/16 in excess of amounts billed through the second quarter. Staff anticipates billing these accrued revenues by the fourth quarter. Significant federal and state reimbursements to date are related to the Perris Valley Line (PVL) and Interstate 215 corridor improvement projects. During the FY 2015/16 budget process, the Commission took a conservative approach to estimate the Transportation Uniform Mitigation Fee (TUMF) revenues of $12 million passed through from the Western Riverside Council of Governments (WRCOG). At the January 13 Commission meeting, staff presented the revised FY 2015/16 revenue projections and increased the TUMF revenues to $18 million, which will be reflected in the third quarter financial statements. The Commission received TUMF receipts through October 2015. The budgeted balance of $53,800 relates to TUMF zone reimbursements from WRCOG for the 74/215 interchange project. Other revenues include property management generated from properties acquired in connection with the State Route 91 Corridor Improvement Project (91 Project) and various rail properties as well as $1.3 million from the proceeds related to the sale of excess land at the La Sierra Station. The Commission took a conservative approach in estimating investment income for FY 2015/16, as a result of flat interest rate yields on investment balances. Investment income is higher in the second quarter primarily as a result of the investment of sales tax and toll revenue bond proceeds. The expenditure and other financing sources/uses categories are in line overall with the expectations of the budget with the following exceptions. • Salaries and benefits expenditures are under budget due to unused full-time equivalents and budget authority; • Professional services expenditures are under budget due to unused budget authority for rail and station development planning, financial advisory management, property management, and various projects’ legal services. Staff anticipates using more budget authority by the fourth quarter; • Support costs are under budget due to unused budget authority for the marketing of new rail service, rail safety, 91 Project, and rideshare advertisements; rail operations and station maintenance; and motorist assistance call box upgrades. Staff anticipates using more budget authority by the fourth quarter; • Program operations are under budget due to unused budget authority for 91 Project permit activities; Freeway Service Patrol, Motorist and Commuter Assistance Program operations; and Rail Program management and operations related to the PVL. Staff anticipates using most of the budget authority by the fourth quarter; • Engineering, construction, design-build, and right of way/land expenditures relate to various capital projects. The status of significant capital projects with budget exceeding $5 million is discussed in the attached; Agenda Item 7A 2 • Operating and capital disbursements are made as claims are submitted to the Commission by transit operators; • Special studies are under budget due to unused budget authority for strategic assessment and other studies; • Local streets and roads are related to the timing of Measure A sales tax revenues as previously explained. These financial statements reflect expenditures made to the local jurisdictions related to collections through October 2015; • Regional arterial expenditures primarily represent expenditures for highways and regional arterial program administered by the 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 interest payments are made semiannually on December 1 and June 1, except for the 2009 Sales Tax Revenue Bonds (variable rate) as those interest payments are monthly; • Capital outlay expenditures are under budget due to unused budget authority for station security improvements and Commission network, hardware, and software improvements; and • The Commission entered into a loan agreement with the U.S. Department of Transportation for a $421,054,409 Transportation Infrastructure Finance and Innovation Act (TIFIA) loan to pay eligible 91 Project costs. The loan is a toll revenue bond (TIFIA bond) that is subordinate to the 2013 Toll Bonds. Proceeds of the TIFIA bond may be drawn upon after certain conditions have been met. During the second quarter, the Commission drew down $41 million for a cumulative inception to date total in TIFIA loan proceeds of $168 million. During construction of the 91 Project and for a period of up to five years following substantial completion, interest is compounded and added to the initial TIFIA loan. TIFIA debt service payments are expected to commence on December 1, 2021, which is approximately five years after substantial completion of the 91 Project, through June 1, 2051. Attachments: 1) Quarterly Project Status – December 2015 2) Quarterly Financial Statements – December 2015 Agenda Item 7A 3 RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY PROJECT STATUS 2ND QUARTER FOR SIX MONTHS ENDED 12/31/2015 FY 2015/16 BUDGET 2ND QUARTER EXPENDITURES Project Description Project Status 91 Project $ 369,290,600 $129,200,675 The Design-Build contract is on schedule with actual reported progress of 66 percent as of December 31, 2015. The Commission has acquired and delivered all 197 Caltrans Parcel Numbers to the Design-Builder. Construction has begun on 28 bridges of 32 (9 bridges are complete) and 51 walls of 93 (10 walls are complete), while 83 utility relocations of 90 are complete. The substantial completion date of January 2017 is unchanged. The under-run of the FY 2015/16 budget at second quarter can be attributed to several components: anticipated goodwill and negotiated ROW settlement costs later in the fiscal year; the Design-Build contract; the project and construction management (PCM) contract; the systems integration and installation contract; and the Caltrans Cooperative Agreement. The project will connect with Orange County Transportation Authority’s tolled express lanes at the Orange County/Riverside County line and continue 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 (HOV) lanes to accommodate two-tolled express lanes in the median in each direction. The SR-91 CIP 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. SR-91 CIP development activities began in September 2007, construction work related to roadway and structures began in July 2014, and the toll lanes are expected to open in January 2017. The total acquisition and construction cost of the SR- 91 CIP is estimated at $1.4 billion, including capitalized interest, debt service reserves, and cost of issuance. I-15 Express Lanes Project 17,319,200 3,173,253 Staff continues to advance the project report and environmental document, which is expected to be completed in FY 2015/16. Various methods of project delivery were analyzed in 2013, and ultimately staff received Commission approval in January 2014 to use the design-build method of project delivery and begin planning for the design-build phase of work. The PCM contract and the traffic and revenue study contract were both approved by the Commission in April 2015. The budget variance at the end of the second quarter is due to under runs in the PCM contract, the preliminary engineering contract, and special legal services contract. The project is currently in the preliminary engineering and environmental phase of work to add up to two-tolled express lanes in each direction from SR-60 to Cajalco Road in Corona. The project will use the design-build method of project delivery. Project development activities began in April 2008, and lanes are expected to open to traffic in 2020. The estimated project cost is $450 million. ATTACHMENT 1 4 FY 2015/16 BUDGET 2ND QUARTER EXPENDITURES Project Description Project Status I-215 Corridor Improvements/Scott Road to Nuevo Road 19,147,800 5,154,507 The notice to proceed for construction was issued in December 2012 and construction started in January 2013; construction work continues generally on schedule despite two separate traffic incidents that delayed construction of the Perris Boulevard overcrossing in July of 2013 and July of 2014. The southern two- thirds of the project opened to three lanes of traffic in each direction in November 2014 and the remainder opened to traffic in October 2015. Major changes with aesthetics will prolong the work. The budget variance at the end of the second quarter is due to slow submittal of progress payments by the contractor. The project will add one mixed flow lane in each direction. Preliminary engineering began in 2007 and was completed in 2011. Final design began in 2011 and was completed in December 2012; construction began in 2013 and is expected to be completed in 2016. The estimated project cost is $120 million. Mid County Parkway 21,192,300 3,722,214 Staff completed the work on the Environmental Impact Report (EIR)/Environmental Impact Study (EIS). Major milestones have been met and the project’s Record Of Decision was published in the Federal register in August 2015. A budget amendment was approved by the Commission in April 2014 to allocate additional funding for the completion of Phase II Final EIR/Supplemental EIS. In April 2015 the Commission approved the EIR. Staff is waiting for resolution of the legal matters on the project before starting the procurement process on the plans specifications and estimates phase of the work. A recirculated project report and environmental document is under development for a new corridor from I-215 to SR-79. The environmental phase is anticipated to be completed in FY 2014/15. Construction of this new facility will be completed over many years as funding becomes available; the project cost is estimated at $1.3 to $1.6 billion. Perris Valley Line and other rail projects 61,112,200 22,711,505 ROW acquisition activities for the station and layover facility at south Perris have been completed. Following the settlement of a lawsuit challenging elements of the California Environmental Quality Act document in July 2013, the construction contract was given full notice to proceed in October 2013 following FTA approval of the Small Starts Grant Agreement. Active construction commenced in January 2014; construction delays have occurred due to various factors. The new expected completion date is February 2016. The project is in the construction phase with the extension of commuter rail services to the city of Perris. The project commenced in December 2007 when the Commission received approval from the Federal Transit Administration (FTA) to move into project development. Expected completion date is December 2015 for an estimated project cost of $248.3 million. Other rail projects include adding a fourth main track between the Riverside Downtown station to the connector to the San Jacinto Branch Line at Highgrove. This list discusses the significant capital projects (i.e., total budgeted costs in excess of $5 million) and related status. Capital project expenditures are generally affected by lags in invoices submitted by contractors and consultants, as well as issues encountered during certain phases of the projects. The capital projects budgets tend to be based on aggressive project schedules. 5 Revenues Sales tax 266,372,400$ 78,203,866$ (188,168,534)$ 29% Federal reimbursements 46,890,300 3,738,646 (43,151,654)8% State reimbursements 55,650,500 3,234,231 (52,416,269)6% Local reimbursements 2,906,155 (51,300) (2,957,455)-2% Transportation Uniform Mitigation Fee 12,053,800 6,683,295 (5,370,505)55% Other revenues 1,847,000 2,321,932 474,932 126% Investment income 2,456,300 1,837,907 (618,393)75% Total revenues 388,176,455 95,968,577 (292,207,878)25% Expenditures Salaries and benefits 9,499,800 3,850,859 5,648,941 41% Professional and support Professional services 16,751,000 4,267,781 12,483,219 25% Support costs 7,235,200 2,145,760 5,089,440 30% Total Professional and support costs 23,986,200 6,413,541 17,572,659 27% Projects and operations Program operations - general 23,634,900 5,656,672 17,978,228 24% Engineering 20,110,900 1,394,487 18,716,413 7% Construction 154,265,000 28,449,411 125,815,589 18% Design Build 284,681,200 119,469,937 165,211,263 42% Right of way/land 105,090,355 12,863,551 92,226,804 12% Operating and capital disbursements 149,263,500 54,520,352 94,743,148 37% Special studies 1,844,000 466,914 1,377,086 25% Local streets and roads 50,679,000 15,460,530 35,218,470 31% Regional arterials 30,600,000 4,475,747 26,124,253 15% Total projects and operations 820,168,855 242,757,601 577,411,254 30% Debt service Principal 7,800,000 - 7,800,000 N/A Interest 46,119,900 22,804,143 23,315,757 49% Total debt service 53,919,900 22,804,143 31,115,757 42% Capital outlay 3,793,500 26,441 3,767,059 1% Total Expenditures 911,368,255 275,852,585 635,515,670 30% Excess revenues over (under) expenditures (523,191,800) (179,884,008) 654,232,083 34% Other financing sources/(uses) Operating transfer in 136,077,400 43,225,092 (92,852,308) 32% Operating transfer out (136,077,400) (43,225,092) 92,852,308 32% TIFIA loan proceeds 261,277,900 119,191,988 (142,085,912) 46% Total financing sources/(uses)261,277,900 119,191,988 142,085,912 46% Net change in fund balances (261,913,900) (60,692,020) 796,317,995 23% Fund balance July 1, 2015 831,809,600 803,802,444 (28,007,156) 97% Fund balance December 31, 2015 569,895,700$ 743,110,424$ 768,310,839$ 130% QUARTERLY BUDGET TO ACTUAL RIVERSIDE COUNTY TRANPORTATION COMMISSION 2ND QUARTER FOR SIX MONTHS ENDED 12/31/2015 FY 2015/16 BUDGET 2ND QUARTER ACTUAL PERCENT UTILIZATION REMAINING BALANCE ATTACHMENT 2 6 TRANSPORTATION DEVELOPMENT ACT AGENCY FUND Revenues Sales tax 1,200,000$ -$ 39,161,683$ 11,574,543$ 346,435$ 25,921,205$ -$ -$ -$ -$ -$ -$ -$ -$ 78,203,866$ Federal reimbursements - - 2,348,981 - - - - - - - - - - 1,389,665 3,738,646 State reimbursements 48,050 991,412 2,194,769 - - - - - - - - - - - 3,234,231 Local reimbursements 4,520 - (47,109) - - - - - - (8,711) - - - - (51,300) Transportation Uniform Mitigation Fee - - 5,328 - - - - 6,677,967 - - - - - - 6,683,295 Other revenues 353,228 253,825 1,714,879 - - - - - - - - - - - 2,321,932 Investment income 2,411 1,729 70,573 11,194 - 21,338 21,296 21,548 1,030 122 831,785 297,456 83,357 474,068 1,837,907 Total revenues 1,608,209 1,246,966 45,449,104 11,585,737 346,435 25,942,543 21,296 6,699,515 1,030 (8,589) 831,785 297,456 83,357 1,863,733 95,968,577 Expenditures Salaries and benefits 2,305,271 28,983 1,366,694 3,483 - - - 104,769 20,796 20,863 - - - - 3,850,859 Professional and support Professional services 430,992 140,967 3,327,343 463 - - 418 58,027 308,666 905 - - - - 4,267,781 Support costs 1,938,515 96,718 109,989 - - - - 495 43 - - - - - 2,145,760 Total Professional and support costs 2,369,507 237,685 3,437,332 463 - - 418 58,522 308,709 905 - - - - 6,413,541 Projects and operations Program operations - general 448,641 1,214,813 3,858,983 6,257 - - - 127,061 - 917 - - - - 5,656,672 Engineering - - 519,052 - - - - 875,435 - - - - - - 1,394,487 Construction - - 30,175,234 - - - - (1,725,823) - - - - - - 28,449,411 Design Build - - 119,469,937 - - - - - - - - - - - 119,469,937 Right of way/land - - 9,502,659 - - - - 3,360,892 - - - - - - 12,863,551 Operating and capital disbursements 8,675,381 - 2,832,117 3,149,002 - 39,609,250 254,602 - - - - - - - 54,520,352 Special studies 425,142 - 41,772 - - - - - - - - - - - 466,914 Local streets and roads - - 11,063,005 4,051,090 346,435 - - - - - - - - - 15,460,530 Regional arterials - - - 4,475,747 - - - - - - - - - - 4,475,747 Total projects and operations 9,549,164 1,214,813 177,462,759 11,682,096 346,435 39,609,250 254,602 2,637,565 - 917 - - - - 242,757,601 Debt service Principal - - - - - - - - - - - - - - - Interest - - - - - - - - - - - - - 22,804,143 22,804,143 Total debt service - - - - - - - - - - - - - 22,804,143 22,804,143 Capital outlay 21,550 - 4,891 - - - - - - - - - - - 26,441 Total Expenditures 14,245,492 1,481,481 182,271,676 11,686,042 346,435 39,609,250 255,020 2,800,856 329,505 22,685 - - - 22,804,143 275,852,585 Excess revenues over (under) expenditures (12,637,283) (234,515) (136,822,572) (100,305) - (13,666,707) (233,724) 3,898,659 (328,475) (31,274) 831,785 297,456 83,357 (20,940,410) (179,884,008) Other financing sources/(uses) Operating transfer in 13,929,764 571,200 19,027,923 - - - - - 189,439 - - - - 9,506,766 43,225,092 Operating transfer out - (571,200) (10,229,414) - - (13,929,764) (189,439) - - - - (17,190,732) (1,114,543) - (43,225,092) TIFIA loan proceeds - - 119,191,988 - - - - - - - - - - - 119,191,988 Total financing sources/(uses)13,929,764 - 127,990,497 - - (13,929,764) (189,439) - 189,439 - - (17,190,732) (1,114,543) 9,506,766 119,191,988 Net change in fund balances 1,292,481 (234,515) (8,832,075) (100,305) - (27,596,471) (423,163) 3,898,659 (139,036) (31,274) 831,785 (16,893,276) (1,031,186) (11,433,644) (60,692,020) Fund balance July 1, 2015 10,182,797 7,988,086 248,871,517 35,713,138 556 112,103,274 60,580,753 61,486,038 4,054,106 500,041 26,830,382 87,921,226 41,370,827 106,199,703 803,802,444 Fund balance December 31, 2015 11,475,278$ 7,753,571$ 240,039,442$ 35,612,833$ 556$ 84,506,803$ 60,157,590$ 65,384,697$ 3,915,070$ 468,767$ 27,662,167$ 71,027,950$ 40,339,641$ 94,766,059$ 743,110,424$ CAPITAL PROJECTS FUNDS GENERAL FUND FSP/ SAFE WESTERN COUNTY PALO VERDE VALLEY COACHELLA VALLEY LOCAL TRANSPORTATION FUND MEASURE A SALES TAX SPECIAL REVENUE FUNDS RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY BUDGET TO ACTUAL BY FUND 2ND QUARTER FOR SIX MONTHS ENDED 12/31/2015 SALES TAX BONDS DEBT SERVICE COMBINED TOTALCOMMERCIAL PAPER STATE TRANSIT ASSISTANCE TRANSPORTATION UNIFORM MITIGATION FEE (TUMF) TOLL REVENUE BONDS COACHELLA VALLEY RAIL 7 AGENDA ITEM 7B RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 TO: Budget and Implementation Committee FROM: Michele Cisneros, Deputy Director of Finance THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Quarterly Sales Tax Analysis STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file the sales tax analysis for Quarter 3 2015 (3Q 2015); and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: At its December 2007 meeting, the Commission awarded an agreement with MuniServices, LLC (MuniServices) for quarterly sales tax reporting services plus additional fees contingent on additional sales tax revenue generated from the transactions and use tax (sales tax) audit services. As part of the recurring contracts process, the Commission approved a five-year extension through June 30, 2018. The services performed under this agreement pertain to only the Measure A sales tax revenues. Since the commencement of these services, MuniServices submitted an audit update, which reported findings generated and submitted to the State Board of Equalization (SBOE) for review and determination of errors in sales tax reporting related to 464 businesses. Through 2Q 2015, the SBOE approved corrections for 309 of these accounts for a total sales tax revenue recovery of $5,913,096. Updated amounts for 3Q 2015 will be provided once received from MuniServices. If the SBOE concurs with the error(s) for the remaining claims, the Commission will receive additional revenues; however, the magnitude of the value of the remaining findings was not available. It is important to note that while the recoveries of additional revenues will be tangible, it will not be sufficient to alter the overall trend of sales tax revenues. Additionally, MuniServices provided the Commission with the quarterly sales tax summary report for 3Q 2015. Most of 3Q 2015 Measure A sales tax revenues were received in the fourth quarter of calendar year 2015, during October 2015 through December 2015, due to a lag in the sales tax calendar. The summary section of the 3Q 2015 report is attached and includes an overview of California’s economic outlook, local results, historical cash collections analysis by quarter, summary of the top 25 sales/use tax contributions, historical sales tax amounts, annual Agenda Item 7B 8 sales tax by business category, five-year economic trend for significant business category (auto sales-new), and final results. Taxable transactions for the top 25 tax contributors in Riverside County generated 23.5 percent of taxable sales for the benchmark year ended 3Q 2015, slightly lower than the 24.9 percent for the benchmark year ended 3Q 2014. The top 100 tax contributors generated 38.9 percent of taxable sales for the benchmark year ended 3Q 2015, compared to the 39.7 percent for the benchmark year ended 3Q 2014. In the Economic Category Analysis below, all but one category experienced new highs in the 3Q 2015 benchmark year compared to the prior eight benchmark year quarters. Business to business was below the 4Q 2014 benchmark year high point and had a slight decrease of 1.6 percent due to completion of renewable energy developments in Riverside County. Miscellaneous and construction had the largest increases of 10.6 and 6.9 percent, respectively, while food products and general retail increased 5.7 and 4.3 percent, respectively. Transportation had a slight net increase of 0.5 percent and is due to the increase of new auto sales offset by lower fuel prices. An analysis of sales tax performance by quarter through 3Q 2015 is attached and illustrates fairly consistent cycles for sales tax performance for most of the economic categories since the recent economic recession. For 8 of the top 10 segments (auto sales-new, restaurants, department stores, miscellaneous retail, building materials-wholesale, apparel stores, food markets, and building materials-retail) during the past eight benchmark year quarters, sales tax receipts reached a new high point. The 8 segments represent 61.3 percent of the total sales tax receipts. Service stations and light industry, two of the top 10 segments representing 8.7 and 5.1 percent, respectively, of the total sales tax receipts, decreased to a new low point in the past two-year period during 3Q 2015. % of Total / % Change RCTC Riverside Countywide San Bernardino Countywide State Wide S.F. Bay Area Sacramento Valley Central Valley South Coast General Retail 28.7 / 4.3 28.4 / 3.6 24.9 / 4.5 28.4 / 2.9 27.0 / 2.1 27.9 / 3.1 30.5 / 3.7 29.2 / 2.8 Food Products 17.1 / 5.7 19.4 / 5.2 14.8 / 5.5 20.2 / 5.6 21.6 / 6.8 17.0 / 5.6 16.2 / 4.2 21.2 / 5.3 Transportation 26.0 / 0.5 27.5 / 0.3 28.6 / 4.3 24.3 / -0.3 21.1 / -1.0 28.3 / 1.2 26.4 / -0.1 23.9 / -0.8 Construction 10.8 / 6.9 13.0 / 0.7 9.5 / 18.0 9.3 / 7.3 9.4 / 7.6 11.2 / 7.2 11.8 / 7.5 8.2 / 6.9 Business to Business 15.3 / -1.6 10.7 / 3.9 21.0 / 5.4 16.7 / 0.7 19.7 / 2.9 14.0 / 3.7 13.7 / -1.8 16.4 / -1.5 Miscellaneous 2.1 / 10.6 1.0 / 16.4 1.2 / 9.8 1.2 / 3.5 1.2 / 2.7 1.7 / 1.1 1.4 / 4.7 1.1 / 2.2 Total 100.0 / 3.0 100.0 / 2.7 100.0 / 6.0 100.0 / 2.7 100.0 / 3.1 100.0 / 3.5 100.0 / 2.4 100.0 / 2.0 General Retail: Apparel Stores, Department Stores, Furniture/Appliances, Drug Stores, Recreation Products, Florist/Nursery, and Misc. Retail Food Products: Restaurants, Food Markets, Liquor Stores, and Food Processing Equipment Construction: Building Materials Retail and Building Materials Wholesale Transportation: Auto Parts/Repair, Auto Sales - New, Auto Sales - Used, Service Stations, and Misc. Vehicle Sales Business to Business: Office Equip., Elec. Equip., Bus. Services, Energy Sales, Chemical Prod., Heavy Industry, Light Industry, and Leasing Miscellaneous: Health & Government, Miscellaneous Other, and Closed Account Adjustments ECONOMIC CATEGORY ANALYSIS Agenda Item 7B 9 This was due to lower fuel prices and completion of renewable energy developments in Riverside County. These top 10 segments represent 75.1 percent of the total sales tax receipts. For the other 19 segments representing 24.9 percent of the total sales tax receipts, 10 segments representing 15.0 percent of the total sales tax receipts reached new high points in the past two years during 3Q 2015. In the Economic Segment Analysis below, auto sales-new, restaurants, and department stores represent the three largest segments for Riverside County, or 32.6 percent of total sales tax receipts. This is the twelfth consecutive quarter since 3Q 2008 that departments stores and auto sales-new have been in the top three economic segments. Growth seen in previous quarters for the service stations segment has been declining continuously from the high in the last four years due to lower fuel prices, and this segment reached a new low point in 3Q 2015. Restaurants replaced service stations in the top three economic segments beginning in 4Q 2014 and resulted from continued steady growth in restaurant prices with no decline in restaurant use. During the review of the 3Q 2015 detailed report with MuniServices, information regarding sales tax comparison by city and change by economic segments (two highest gains and two highest losses) from 3Q 2015 to 3Q 2014 was provided. Staff continues to monitor monthly sales tax receipts and other available economic data to determine the need for any adjustment to the revenue projections. Staff will utilize the forecast scenarios included with the complete report and receipt trends in assessing such projections. Attachments: 1) Sales Tax Digest Summary 3Q 2015 2) Sales Tax Performance Analysis by Quarter 3) Quarterly Sales Tax Change Comparison by City for 3Q 2015 to 3Q 2014 RCTC Riverside Countywide San Bernardino Countywide State Wide S.F. Bay Area Sacramento Valley Central Valley South Coast Largest Segment Auto Sales - New Restaurants Dept. Stores Restaurants Restaurants Restaurants Dept. Stores Service Stations % of Total / % Change 11.5 / 10.8 12.3 / 8.0 10.5 / 5.4 14.2 / 7.2 15.3 / 7.7 15.4 / 6.7 13.6 / 1.7 26.3 / -6.4 2nd Largest Segment Restaurants Auto Sales - New Service Stations Auto Sales - New Auto Sales - New Auto Sales - New Auto Sales - New Restaurants % of Total / % Change 10.8 / 7.8 12.2 / 9.9 10.4 / -12.1 11.0 / 8.3 10.7 / 8.9 11.1 / 6.9 10.8 / 11.3 12.7 / 7.1 3rd Largest Segment Dept. Stores Dept. Stores Restaurants Dept. Stores Dept. Stores Dept. Stores Restaurants Food Markets % of Total / % Change 10.3 / 1.1 10.9 / -1.3 9.9 / 8.5 9.7 / 0.6 8.1 / -0.1 9.4 / 0.2 10.3 / 7.6 8.5 / 4.7 ECONOMIC SEGMENT ANALYSIS Agenda Item 7B 10 Riverside County Transportation Commission Sales Tax Digest Summary Collections through December 2015 Sales through September 2015 (2015Q3) CALIFORNIA’S ECONOMIC OUTLOOK California sales tax receipts increased by 2.4% over the same quarter from the previous year, with Northern California reporting a 1.8% increase compared to 2.8% for Southern California. Receipts for RCTC changed by 2.4% over the same period. How are prices affecting Sales Tax Revenues? The Annual Inflation Rate (CPI-U Western Region) in November edged down to 1.5% from 1.7% in November of 2014, due in part to lower gasoline prices. The overall annual inflation rate of 1.5% includes two segments that are increasingly using up more and more of California resident's disposable income and generally don't generate sales tax revenues: Housing 3.4% and Medical Care 3.4%. The Annual Inflation Rate for segments that generally do generate sales tax: Commodities less Food -(2.4)%, Nondurables -(2.0)%, Motor Fuel -(18.7)% and Food and Beverages 1.6%. (Bureau of Labor Statistics) Where are Sales Tax Revenues growing? Retail Sales grew by 7.9% during the holiday season, excluding autos and gas. (SpendingPulse) Double-digit growth in furniture sales shows that consumers have more disposable income and are willing to splurge on big ticket items. (MasterCard Advisors) LOCAL RESULTS Net Cash Receipts Analysis Local Collections $40,573,992 Less: Cost of Administration (496,230) Net 3Q2015 Receipts 40,077,762 Net 3Q2014 Receipts 39,136,144 Actual Percentage Change 2.4% Business Activity Performance Analysis Local Collections $40,573,992 Less: Payments for Prior Periods (1,810,969) Preliminary 3Q2015 Collections 38,763,022 Projected 3Q2015 Late Payments 1,330,475 Projected 3Q2015 Final Results 40,093,497 Actual 3Q2014 Results 39,036,611 Projected Percentage Change 2.7% www.MuniServices.com (800) 800-8181 Page 1 ATTACHMENT 1 11 Riverside County Trasnportation Commission HISTORICAL CASH COLLECTIONS ANALYSIS BY QUARTER TOP 25 SALES/USE TAX CONTRIBUTORS The following list identifies RCTC’s Top 25 Sales/Use Tax contributors. The list is in alphabetical order and represents sales from October 2014 to September 2015. The Top 25 Sales/Use Tax contributors generate 23.5% of RCTC’s total sales and use tax revenue. 7-ELEVEN FOOD STORES LOWE'S HOME CENTERS AMAZON.COM MACY'S DEPARTMENT STORE ARCO AM/PM MINI MARTS MCDONALD’S RESTAURANTS BEST BUY STORES RALPH’S GROCERY COMPANY CARMAX THE AUTO SUPERSTORE ROSS STORES CHEVRON SERVICE STATIONS SAM'S CLUB CIRCLE K FOOD STORES SHELL SERVICE STATIONS COSTCO WHOLESALE STATER BROS MARKETS DEPT OF MOTOR VEHICLES TARGET STORES DESERT SUNLIGHT USA SERVICE STATIONS HOME DEPOT VERIZON WIRELESS JACK IN THE BOX RESTAURANTS WAL MART STORES KOHL'S DEPARTMENT STORES (in thousands of $) $32,000 $34,000 $36,000 $38,000 $40,000 $42,000 $44,000 2Q2013 3Q2013 4Q2013 1Q2014 2Q2014 3Q2014 4Q2014 1Q2015 2Q2015 3Q2015N e t R e c e i p t s$410 $420 $430 $440 $450 $460 $470 $480 $490 $500 $510 $520 A d m i n F e e sNet Receipts SBOE Admin Fees Due www.MuniServices.com (800) 800-8181 Page 2 12 Riverside County Trasnportation Commission HISTORICAL SALES TAX AMOUNTS The following chart shows the sales tax level from sales through September 2015, the highs, and the lows for each segment over the last two years. ANNUAL SALES TAX BY BUSINESS CATEGORY (in thousands of $) 42,776 43,200 43,729 43,973 44,660 45,345 46,047 46,590 46,902 47,307 24,425 24,661 25,165 25,660 26,115 26,621 26,882 27,325 27,784 28,149 39,660 40,372 40,968 41,446 42,049 42,541 42,639 42,479 42,485 42,767 14,348 14,987 15,214 15,715 16,208 16,567 16,992 17,269 17,474 17,716 25,250 25,378 25,009 25,347 25,413 25,556 26,199 25,961 25,517 25,152 2,834 2,902 2,997 3,023 3,132 3,128 3,219 3,287 3,332 3,459 $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 2Q2013 3Q2013 4Q2013 1Q2014 2Q2014 3Q2014 4Q2014 1Q2015 2Q2015 3Q2015 General Retail Food Products Transportation Construction Business To Business Miscellaneous (in thousands of $) $0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 Auto Sales - NewRestaurantsDepartment StoresService StationsMiscellaneous RetailBldg.Matls-WhsleApparel StoresFood MarketsLight IndustryBldg.Matls-Retail3Q2015 High Low www.MuniServices.com (800) 800-8181 Page 3 13 Riverside County Trasnportation Commission FIVE-YEAR ECONOMIC TREND: Auto Sales - New FINAL RESULTS: April-June 2015 Sales Local Net Cash Collections $41,879,899 Less: Pool Amounts ($-496,230) Less: Prior Quarter Payments ($2,725,891) Add: Late Payments $1,596,960 Local Net Economic Collections after Adjustments $41,247,198 Percent Change from April-June 2014 Sales UP BY 1.4% MUNISERVICES’ ON-GOING AUDIT RESULTS This Quarter $240,209 Total to Date $6,075,613 (in thousands of $) $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 3Q20104Q20101Q20112Q20113Q20114Q20111Q20122Q20123Q20124Q20121Q20132Q20133Q20134Q20131Q20142Q20143Q20144Q20141Q20152Q20153Q2015www.MuniServices.com (800) 800-8181 Page 4 14 RCTC: Sales Tax Performance Analysis by Quarter TOTALEconomicTOTAL2015Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$40,093,171 2.7% $1,057,464 3.0% $4,792,594GENERAL RETAIL2015Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$10,744,514 3.9% $404,516 4.3% $1,961,61426.8%FOOD PRODUCTS2015Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$6,595,846 5.9% $365,745 5.7% $1,528,227% of Total: 16.5%TRANSPORTATION2015Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$11,142,987 2.6% $281,723 0.5% $226,125% of Total: 27.8%CONSTRUCTION2015Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$4,619,431 5.5% $242,701 6.9% $1,148,937% of Total: 11.5%BUSINESS TO BUSINESS2015Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$6,098,986-5.6% -$364,567 -1.6% -$403,295% of Total: 15.2%Q4 Q1 Q2 Q3TOTALCATEGORYQoQ = 15Q3 / 14Q3YoY = YE 15Q3 / YE 14Q3% of 2015Q3 Total:$0$2,000,000$4,000,000$6,000,000$8,000,000$10,000,000$12,000,000$14,000,000$16,000,000$0$5,000,000$10,000,000$15,000,000$20,000,000$25,000,000$30,000,000$35,000,000$40,000,000$45,000,000$50,000,0002010Q32010Q42011Q12011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q12013Q22013Q32013Q42014Q12014Q22014Q32014Q42015Q12015Q22015Q3ATTACHMENT 215 RIVERSIDE COUNTY: Quarterly Comparison of 2014Q3 and 2015Q3 ( July thru September Sales )General RetailFood ProductsTransportationConstructionB2BMisc.Jul - Sep 2015 (2015Q3) Jul - Sep 2014 (2014Q3)% Chg Gain Gain Decline Decline RCTC RCTC 3.9%5.9%2.6%5.5%-5.6%16.7%40,093,171 39,035,707 2.7%Auto Sales - New Restaurants Service Stations Light Industry RIVERSIDE COUNTY BANNING -4.3%1.9%0.3%46.1%-2.0%-54.5%460,740 449,603 2.5%Auto Sales - New Bldg.Matls-Whsle Service Stations Misc. Vehicle Sales BEAUMONT 4.3%9.7%4.7%-0.5%19.6%-18.4%973,718 914,956 6.4%Misc. Vehicle Sales Restaurants Service Stations Bldg.Matls-Retail BLYTHE -2.0%1.9%-5.1%-13.8%-27.3%-4.9%375,840 405,112 -7.2%Auto Sales - New Food Markets Service Stations Light Industry CORONA 4.6%1.0%0.9%7.3%-2.9%5.8%8,510,905 8,268,350 2.9%Bldg.Matls-Whsle Auto Sales - New Service Stations Food Markets LAKE ELSINORE 9.3%4.0%13.9%22.1%-11.0%-13.0%2,010,612 1,825,481 10.1%Auto Sales - New Bldg.Matls-Whsle Service Stations Light Industry HEMET 0.2%9.1%2.5%5.6%0.4%16.6%2,485,586 2,407,844 3.2%Auto Sales - New Restaurants Service Stations Office Equipment INDIO 27.3%4.6%6.7%-3.5%9.7%-21.3%2,113,318 1,956,815 8.0%Department Stores Auto Sales - New Bldg.Matls-Retail Food Markets PERRIS 19.4%2.6%-16.2%-9.1%-10.5%37.9%1,998,965 2,060,893 -3.0%Miscellaneous Other Restaurants Service Stations Auto Sales - New SAN JACINTO 5.1%44.4%-3.5%55.2%63.9%15.0%619,040 524,352 18.1%Food Markets Light Industry Service Stations Business Services RIVERSIDE 5.8%6.7%2.6%15.4%4.8%-3.1%13,518,661 12,801,591 5.6%Bldg.Matls-Whsle Auto Sales - New Business Services Misc. Vehicle Sales COACHELLA 0.8%7.0%-12.9%-14.0%2.6%-52.1%752,397 803,599 -6.4%Heavy Industry Department Stores Service Stations Bldg.Matls-Whsle PALM SPRINGS 4.6%6.3%-2.5%4.9%-11.5%-13.4%2,101,292 2,064,731 1.8%Auto Sales - New Restaurants Service Stations Energy Sales DESERT HOT SPRINGS 0.8%2.3%-4.7%-15.1%-35.6%-8.0%307,335 317,047 -3.1%Miscellaneous Retail Food Markets Service Stations Heavy Industry NORCO 0.6%6.8%6.9%6.5%20.1%23.3%1,395,386 1,309,108 6.6%Auto Sales - New Leasing Service Stations Office Equipment INDIAN WELLS 26.5%2.3%-100.0%-66.5%-7.4%31.7%108,150 104,061 3.9%Restaurants Recreation Products Bldg.Matls-Whsle Light Industry RANCHO MIRAGE -1.4%3.5%3.1%2.5%25.2%10.2%867,000 835,940 3.7%Auto Sales - New Restaurants Misc. Vehicle Sales Recreation Products PALM DESERT 1.5%-4.4%0.7%5.8%-18.7%204.0%3,094,876 3,062,544 1.1%Miscellaneous Other Furniture/Appliance Restaurants Service Stations CATHEDRAL CITY -1.7%2.9%5.1%10.7%16.3%-3.8%1,924,234 1,830,911 5.1%Auto Sales - New Heavy Industry Miscellaneous Retail Food Markets LA QUINTA 1.7%10.9%-2.8%-1.8%-12.3%16.3%1,453,497 1,427,718 1.8%Restaurants Miscellaneous Retail Department Stores Service Stations MORENO VALLEY 10.1%9.9%3.3%7.8%-28.0%-4.6%3,785,451 3,610,574 4.8%Auto Sales - New Furniture/Appliance Service Stations Heavy Industry TEMECULA 4.2%5.6%10.1%3.6%6.3%11.2%7,419,597 6,968,727 6.5%Auto Sales - New Furniture/Appliance Miscellaneous Retail Service Stations CANYON LAKE -11.8%2.7%22.2%69.8%7.7%10.7%41,217 37,772 9.1%Food Markets Service Stations Restaurants Recreation Products CALIMESA -0.1%8.0%-3.3%-29.4%29.2%-8.5%165,549 160,745 3.0%Food Processing Eqp Light Industry Service Stations Apparel Stores MURRIETA 4.4%6.2%4.1%6.1%-10.7%37.3%3,235,427 3,142,718 2.9%Auto Sales - New Restaurants Leasing Service Stations WILDOMAR -19.7%17.5%-8.9%14.1%2.1%-50.0%365,057 366,474 -0.4%Food Markets Restaurants Service Stations Miscellaneous Retail MENIFEE 8.6%8.7%4.0%68.7%-13.5%10.3%1,439,184 1,308,259 10.0%Bldg.Matls-Retail Restaurants Energy Sales Service Stations EASTVALE 4.7%3.7%-7.6%15.9%36.1%100.2%1,638,566 1,457,532 12.4%Electronic Equipment Bldg.Matls-Whsle Service Stations Business Services JURUPA VALLEY -7.9%4.1%1.0%4.9%20.3%-7.1%2,162,998 2,057,653 5.1%Leasing Miscellaneous Retail Department Stores Auto Parts/Repair RIVERSIDE COUNTY 1.8%1.0%-14.7%-42.0%-7.3%65.2%6,083,966 7,045,151 -13.6%Apparel Stores Restaurants Bldg.Matls-Whsle Service Stations Non-Confidential MuniServices ATTACHMENT 3 16 AGENDA ITEM 7C RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 TO: Budget and Implementation Committee FROM: Megan Kavand, Accountant 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, 2015; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: For the past few years and as a result of a low interest rate environment, the Commission’s quarterly investment reports have reflected investments primarily concentrated in the Riverside County Pooled Investment Fund (RCPIF). Other investments included the state Local Agency Investment Fund and mutual funds. In connection with the issuance of sales tax revenue bonds and toll revenue bonds and the execution of Transportation Infrastructure Finance and Innovation Act (TIFIA) loan for the State Route 91 Corridor Improvement Project (SR-91 CIP), the Commission anticipated the need 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. Accordingly, at its May 2013 meeting, the Commission awarded two investment management services agreements to Logan Circle Partners, L.P. (Logan) for SR-91 CIP funds and to Payden & Rygel Investment Management (Payden & Rygel) for Commission operating funds. Logan invested the SR-91 CIP debt proceeds during the first quarter of FY 2013/14 in the Short-Term Actively Managed Program (STAMP). Payden & Rygel was authorized to make specific investments for the Commission’s operating funds beginning with the third quarter of FY 2014/15. In June 2015 the Commission funded its FY 2014/15 SR-91 CIP equity contribution of approximately $35 million; the funds were invested by Logan in a separate STAMP account. Agenda Item 7C 17 The quarterly investment report for the second quarter of FY 2015/16 as required by state law and Commission policy reflects the increased investment activities resulting from the SR-91 CIP and available operating cash. The quarterly investment report includes the following information: • Investment Portfolio Report; • STAMP Portfolio by Investment Category; • STAMP Portfolio by Account; • STAMP Portfolio Transaction Report by Account; • STAMP Portfolio Summary of investments by credit rating, industry group, asset class, security type and market sector; • STAMP Portfolio Toll Revenue Project Senior Lien Fund Summary of investments by credit rating, industry group, asset class, security type and market sector; • STAMP Portfolio Toll Revenue Project Sales Tax Revenue Fund Summary of investments by credit rating, industry group, asset class, security type and market sector; • 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; • STAMP Portfolio Toll Revenue Project Capitalized Interest Fund Summary of investments by credit rating, industry group, asset class, security type and market sector; • STAMP Portfolio Sales Tax Revenue Capitalized Interest Fund Summary of investment by credit rating, industry group, asset class, security type and market sector; • STAMP Portfolio Sales Tax Equity 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 2015 Review; • Payden & Rygel Operating Portfolio by Investment Category; • Payden & Rygel Operating Portfolio Transaction Report; • Payden & Rygel Operating Portfolio Fourth Quarter 2015 Review; and • County of Riverside Investment Report for the Quarter Ended December 31, 2015. The Commission’s investments were in full compliance with the Commission’s investment policy adopted on September 10, 2014, and investments securities permitted under the Indenture for the Commission’s Sales Tax Revenue Bonds and the Master Indenture 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) STAMP Portfolio by Investment Category 3) STAMP Portfolio by Account 4) STAMP Portfolio Transaction Report by Account 5) STAMP Portfolio Summary of Investments 6) STAMP Portfolio Toll Revenue Project Senior Lien Fund Summary of Investments 7) STAMP Portfolio Toll Revenue Project Sales Tax Revenue Fund Summary of Investments Agenda Item 7C 18 8) STAMP Portfolio Toll Revenue Series A & Series B Reserve Fund Summary of Investments 9) STAMP Portfolio Toll Revenue Project Capitalized Interest Fund Summary of Investments 10) STAMP Portfolio Sales Tax Revenue Capitalized Interest Fund Summary of Investments 11) STAMP Portfolio Sales Tax Equity Fund Summary of Investments 12) Payden & Rygel Operating Portfolio by Investment Category 13) Payden & Rygel Operating Portfolio Transaction Report 14) Logan Circle Partners, L.P. Short Duration Quarterly Review 15) Payden & Rygel Operating Portfolio Quarterly Review 16) County of Riverside Investment Report Agenda Item 7C 19 Riverside County Transportation CommissionInvestment Portfolio ReportPeriod Ended: December 31, 2015FAIR VALUERATINGMOODYS/FITCH/S&PCOUPON RATEPAR VALUEPURCHASE DATEMATURITY DATEYIELD TO MATURITYPURCHASE COSTMARKET VALUEUNREALIZED GAIN (LOSS)OPERATING FUNDSCity National Bank Deposits21,459,311 A3/BBB+N/AN/ACounty Treasurer's Pooled Investment Fund343,223,746 Aaa-bf/AAA/V1N/A0.51%Local Agency Investment Fund (LAIF)3,641,624 Not RatedN/AN/A Subtotal Operating Funds368,324,681 FUNDS HELD IN TRUSTCounty Treasurer's Pooled Investment Fund: Local Transportation Fund84,561,489 Aaa-bf/AAA/V1N/A0.51% Subtotal Funds Held in Trust84,561,489 COMMISSION MANAGED PORTFOLIOUS Bank Payden & Rygel Operating50,075,536 First American Government Obligation Fund5,930,910 Aaa-mf/-/AAAmN/AN/A Subtotal Commission Managed Portfolio56,006,446 STAMP PORTFOLIO for 91 CIP Toll Revenue Project Senior Lien Fund40,352,845 Toll Revenue Project Sales Tax Revenue Fund33,048,930 Series A & Series B Reserve Fund18,702,414 Toll Revenue Project Capitalized Interest Fund14,981,212 Sales Tax Revenue Capitalized Interest Fund47,998,049 Sales Tax Revenue Equity Fund32,776,402 Subtotal STAMP Portfolio187,859,852 TOTAL All Cash and Investments696,752,468$ See attached report for detailsSee attached report for detailsSee attached report for detailsSee attached report for detailsSee attached report for detailsSee attached report for detailsSee attached report for details2.69%10.53%9.04%4.70%8.04%12.14%52.86%$‐$50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 $300,000,000 $350,000,000 $400,000,000 STAMP Portfolio for 91 CIP ReserveSTAMP Portfolio for 91 CIP Project FundSTAMP Portfolio for 91 CIP Capitalized InterestSTAMP Portfolio for 91 CIP EquityCommission Managed Portfolio Trust FundsOperating FundsNature of Investments0.85% Mutual Funds64.48% County Pool/Cash0.52% LAIF34.06% Fixed Income0.08% Money Market Funds0.01% CashATTACHMENT 120 Source Account Account IdentifierSecurity Type CategoryIssuerFinal Maturity Trade Date Current Face Value Original CostNext Call DateBase Market ValueBase Net Total Unrealized Gain/Loss Coupon YieldSummarized Credit Rating256350023 LC-Sr Lien Reserve Fund-13135G0D75 Agency Federal National Mortgage Association 06/22/2020 05/06/2015 600,000.00 593,490.00 --- 592,530.00 (1,754.62) 1.500 1.791 AAA256350005 LC-Project Fund-Toll 23133EECD0 Agency Federal Farm Credit Banks Consolidated Systemwide B06/20/2017 06/15/2015500,000.00 500,308.15--- 498,815.00 (1,409.72) 0.432 0.600AAA256350023 LC-Sr Lien Reserve Fund-13137EADR7 AgencyFederal Home Loan Mortgage Corp05/01/2020 05/15/2015475,000.00 471,527.75--- 467,670.75 (4,278.93) 1.375 1.746AAA256350023 LC-Sr Lien Reserve Fund-13137EACA5 AgencyFederal Home Loan Mortgage Corp03/27/2019 07/05/2013800,000.00 875,900.00--- 856,528.00 12,527.47 3.750 1.506AAA256350023 LC-Sr Lien Reserve Fund-13137EADB2 AgencyFederal Home Loan Mortgage Corp01/13/2022 07/05/2013550,000.00 529,303.50--- 557,639.50 22,813.11 2.375 2.128AAA205091001 LC-2013 A Capitalized Interest 31392HWL3 Agency CMO Federal National Mortgage Association02/25/2018 07/12/201328,969.3230,580.74--- 29,766.27141.27 5.000 1.328AAA256350023 LC-Sr Lien Reserve Fund-13137AEV77 Agency CMO Federal Home Loan Mortgage Corp05/25/2018 07/03/2013251,000.00 258,314.30--- 256,456.74 2,092.39 2.699 1.787AAA256350023 LC-Sr Lien Reserve Fund-13137AJMF8 Agency CMO Federal Home Loan Mortgage Corp10/25/2021 08/05/201530,000.0031,038.28--- 30,964.50(6.07) 2.968 2.393AAA205091001 LC-2013 A Capitalized Interest 31392F6C6 Agency CMO Federal National Mortgage Association12/25/2017 07/09/2013185,298.69 196,561.37--- 189,864.45206.02 5.000 1.206AAA256350023 LC-Sr Lien Reserve Fund-138377JZ89 Agency CMO The Government National Mortgage Association Guara10/20/2039 07/05/2013141,561.99 145,891.80--- 146,287.33738.38 3.500 1.718AAA205091001 LC-2013 A Capitalized Interest 31393EXC8 Agency CMO Federal National Mortgage Association09/25/2018 07/24/2013258,783.46 273,582.64--- 267,595.04 2,021.09 4.500 1.113AAA256350022 LC-Sr Lien Ob Fund-1 Interest31393EXC8 Agency CMO Federal National Mortgage Association09/25/2018 07/24/201328,753.7230,398.07--- 29,732.78224.56 4.500 1.113AAA256350023 LC-Sr Lien Reserve Fund-131392JJ83 Agency CMO Federal National Mortgage Association03/25/2018 07/08/201321,713.6322,907.88--- 22,328.13140.51 5.000 1.181AAA256350023 LC-Sr Lien Reserve Fund-138376GB33 Agency CMO The Government National Mortgage Association Guara10/16/2044 01/23/2015345,123.42 354,257.21--- 350,217.44 (3,523.21) 3.500 1.839AAA256350005 LC-Project Fund-Toll 23137A2AZ4 Agency CMO Federal Home Loan Mortgage Corp05/25/2020 07/01/2015400,384.07 412,458.15--- 408,279.65 (1,788.74) 2.757 1.719AAA256350023 LC-Sr Lien Reserve Fund-13137AUPE3 Agency CMO Federal Home Loan Mortgage Corp06/25/2022 07/03/2013235,000.00 220,358.40--- 233,691.05 9,746.07 2.396 2.620AAA205091001 LC-2013 A Capitalized Interest 31392BVM5 Agency CMO Federal National Mortgage Association02/25/2017 07/11/201329,535.8831,178.81--- 29,889.13(30.91) 5.500 0.931AAA256350005 LC-Project Fund-Toll 238378BR35 Agency CMO Government National Mortgage Association11/16/2042 07/10/2015342,928.44 335,212.55--- 333,199.56 (1,908.49) 1.3332.278AAA256350023 LC-Sr Lien Reserve Fund-138378CRT6 Agency CMO The Government National Mortgage Association Guara10/20/2040 05/22/2014114,543.82 110,606.38--- 112,877.21 2,110.65 2.000 2.358AAA256350023 LC-Sr Lien Reserve Fund-13137A7E22 Agency CMO Federal Home Loan Mortgage Corp04/15/2028 07/08/2013190,692.05 197,425.86--- 195,951.34 2,933.25 3.500 1.124AAA256350023 LC-Sr Lien Reserve Fund-13137B03W2 Agency CMO Federal Home Loan Mortgage Corp08/25/2017 07/31/201342,624.9742,591.66--- 42,650.1164.95 1.426 1.773AAA256350023 LC-Sr Lien Reserve Fund-138376T5Z1 Agency CMO The Government National Mortgage Association Guara01/16/2039 01/26/2015155,883.33 162,859.11--- 160,725.07 (1,698.99) 3.000 2.039AAA256350023 LC-Sr Lien Reserve Fund-138377RSZ9 Agency CMO The Government National Mortgage Association Guara06/16/2039 01/21/201562,205.1665,925.58--- 64,921.03 (1,128.56) 4.500 1.740AAA256350005 LC-Project Fund-Toll 23136A8G38 Agency CMO Federal National Mortgage Association08/25/2017 07/02/2015140,236.89 140,866.86--- 140,203.23(481.52) 1.246 1.476AAA256350005 LC-Project Fund-Toll 23137A85H7 Agency CMO Federal Home Loan Mortgage Corp12/15/2039 07/13/2015160,526.50 167,348.88--- 166,669.85(621.29) 3.500 2.033AAA256350005 LC-Project Fund-Toll 23137A1LC5 Agency CMO Federal Home Loan Mortgage Corp08/15/2020 08/31/2015100,510.60 102,112.49--- 101,632.30(348.87) 2.000 1.214AAA256350022 LC-Sr Lien Ob Fund-1 Interest3136A4M89 Agency CMO Federal National Mortgage Association01/25/2019 07/05/2013171,001.14 172,089.94--- 172,439.26927.31 1.934 1.451AAA256350023 LC-Sr Lien Reserve Fund-138378BX20 Agency CMO Government National Mortgage Association06/16/2051 03/17/201570,336.5868,772.10--- 67,770.00(909.77) 1.240 2.547AAA256350023 LC-Sr Lien Reserve Fund-138378B7E3 Agency CMO Government National Mortgage Association05/16/2046 05/22/2015228,481.27 219,609.77--- 220,066.30412.21 1.744 2.532AAA256350005 LC-Project Fund-Toll 23133XY2H7 Agency CMO Federal Home Loan Banks Office of Finance04/20/2017 07/13/2015283,619.56 291,330.47--- 289,033.86(767.06) 2.900 1.630AAA205091001 LC-2013 A Capitalized Interest 3136ACGF2 Agency CMO Federal National Mortgage Association02/25/2016 07/15/2013209,161.48 209,684.38--- 209,002.52(57.20) 1.083 1.298AAA256350023 LC-Sr Lien Reserve Fund-138377RVK8 Agency CMO The Government National Mortgage Association Guara04/20/2039---180,377.62 185,464.83--- 185,938.66 1,139.71 3.000 1.820AAASTAMP Portfolio by Investment Category for quarter ended December 31, 2015256350023 LC Sr Lien Reserve Fund 138377RVK8Agency CMOThe Government National Mortgage Association Guara04/20/2039180,377.62185,464.83185,938.661,139.713.0001.820AAA256350023 LC-Sr Lien Reserve Fund-13136A7MJ8 Agency CMO Federal National Mortgage Association 12/25/2019 08/20/2013 131,280.84 129,332.14 --- 131,643.18 1,417.30 1.520 1.423AAA256350023 LC-Sr Lien Reserve Fund-13137ASNH3 Agency CMO Federal Home Loan Mortgage Corp 09/25/2021 07/03/2013 377,444.17 368,848.47 --- 371,397.51 (59.48) 1.459 2.014 AAA256350023 LC-Sr Lien Reserve Fund-13136A72D3 Agency CMO Federal National Mortgage Association 04/25/2022 07/03/2013 395,000.00 375,250.00 --- 396,019.10 15,861.43 2.482 2.439 AAA256350022 LC-Sr Lien Ob Fund-1 Interest3137ASNH3 Agency CMO Federal Home Loan Mortgage Corp 09/25/2021 08/15/2013 377,444.17 367,536.26 --- 371,397.51 955.99 1.459 2.014 AAA205091001 LC-2013 A Capitalized Interest 31392FPP6 Agency CMO Federal National Mortgage Association 11/25/2017 07/15/2013 116,480.82 123,360.47 --- 119,171.53 88.17 5.000 1.153 AAA205091001 LC-2013 A Capitalized Interest 3136A8G38 Agency CMO Federal National Mortgage Association 08/25/2017 07/08/2013 2,050,129.73 2,019,858.28 --- 2,049,637.70 13,918.12 1.246 1.476 AAA256350022 LC-Sr Lien Ob Fund-1 Interest3136A8G38 Agency CMO Federal National Mortgage Association 08/25/2017 07/08/2013 621,049.07 611,878.89 --- 620,900.02 4,216.24 1.246 1.476AAA256350023 LC-Sr Lien Reserve Fund-138379C2M7 Agency CMO The Government National Mortgage Association Guara09/20/2041 07/11/201447,706.3949,885.81--- 49,411.42(685.87) 1.733 1.825AAA256350005 LC-Project Fund-Toll 231394GH22 Agency CMO Federal Home Loan Mortgage Corp07/15/2018 07/20/2015122,998.01 127,495.13--- 126,689.18428.42 4.500 1.161AAA256350005 LC-Project Fund-Toll 23137ANLP8 Agency CMO Federal Home Loan Mortgage Corp11/25/2016---167,461.22 168,831.19--- 167,749.25(464.47) 1.655 1.578AAA256350005 LC-Project Fund-Toll 238377LN38 Agency CMO The Government National Mortgage Association Guara11/16/2038 06/16/20150.010.01---0.01(0.00) 3.500 1.233AAA256350023 LC-Sr Lien Reserve Fund-138378B7F0 Agency CMO Government National Mortgage Association12/16/2042---450,000.00 427,324.22--- 423,927.00 (3,767.13) 2.273 3.418AAA256350023 LC-Sr Lien Reserve Fund-13137AQT24 Agency CMO Federal Home Loan Mortgage Corp01/25/2019 10/21/2013170,000.00 171,195.31--- 171,433.10834.74 2.130 1.899AAA256350023 LC-Sr Lien Reserve Fund-138376WA62 Agency CMO The Government National Mortgage Association Guara10/20/2039 01/21/2015140,922.27 147,952.73--- 148,353.10 (1,769.24) 4.000 1.842AAA256350023 LC-Sr Lien Reserve Fund-138378TAF7 Agency CMO The Government National Mortgage Association Guara07/20/2041 07/05/2013227,907.93 227,942.29--- 231,985.20 4,178.86 2.500 2.471AAA256350022 LC-Sr Lien Ob Fund-1 Interest31393V2T7 Agency CMO Federal Home Loan Mortgage Corp06/15/2018 07/08/2013146,838.05 155,304.18--- 151,228.50648.91 4.500 1.096AAA205091001 LC-2013 A Capitalized Interest 31393V2T7 Agency CMO Federal Home Loan Mortgage Corp06/15/2018 07/08/2013483,456.41 511,330.69--- 497,911.76 2,136.49 4.500 1.096AAA256350005 LC-Project Fund-Toll 23137AH6B9 Agency CMO Federal Home Loan Mortgage Corp10/25/2020 08/28/2015165,400.40 169,018.53--- 167,381.90 (1,297.86) 2.257 1.767AAA256350023 LC-Sr Lien Reserve Fund-138377DPX8 Agency CMO The Government National Mortgage Association Guara11/20/2036 12/31/201323,123.4324,240.82--- 23,250.6181.36 2.500 0.958AAA256350023 LC-Sr Lien Reserve Fund-131395EZP5 Agency CMO Federal Home Loan Mortgage Corp08/15/2019 07/09/201385,625.9390,589.56--- 88,429.32194.48 4.500 1.411AAA256350023 LC-Sr Lien Reserve Fund-131394DVM9 Agency CMO Federal National Mortgage Association02/25/2034 06/19/2014154,765.65 163,640.49--- 161,578.43(163.45) 5.000 1.277AAA256350023 LC-Sr Lien Reserve Fund-138378KXW4 Agency MBS The Government National Mortgage Association Guara02/16/2037 12/11/2014195,836.75 194,888.16--- 193,402.50 (1,517.35) 1.705 2.118AAA256350005 LC-Project Fund-Toll 236225FGM5 Agency MBS Ginnie Mae II08/20/2041 08/06/2015114,800.83 118,818.87--- 118,821.1657.43 1.875 1.162AAA256350023 LC-Sr Lien Reserve Fund-131413XVG5 Agency MBS Federal National Mortgage Association06/01/2019 08/04/2014200,000.00 218,500.00--- 208,616.00 (4,622.84) 4.506 2.708AAA256350023 LC-Sr Lien Reserve Fund-138379KDN5 Agency MBS Government National Mortgage Association09/16/2055 08/05/2015192,950.55 188,021.26--- 188,323.59192.82 2.098 2.904AAA256350023 LC-Sr Lien Reserve Fund-13136A4M48 Agency MBS Federal National Mortgage Association01/25/2022 07/05/2013354,257.97 355,254.32--- 356,546.48 1,817.15 2.098 1.871AAA256350005 LC-Project Fund-Toll 238378NNA7 Agency MBS The Government National Mortgage Association Guara05/16/2038 06/26/2015585,217.12 589,217.63--- 586,598.23 (2,513.20) 2.250 2.066AAA256350023 LC-Sr Lien Reserve Fund-131381PEB0 Agency MBS Federal National Mortgage Association11/01/2020 09/26/2014264,630.94 278,648.11--- 277,013.02 2,028.02 3.370 2.188AAA256350023 LC-Sr Lien Reserve Fund-13137A7JU5 Agency MBS Federal Home Loan Mortgage Corp11/25/2017 07/03/2013325,000.00 351,203.13--- 337,450.75 1,834.66 3.882 1.918AAA256350023 LC-Sr Lien Reserve Fund-138378KRS0 Agency MBS The Government National Mortgage Association Guara07/16/2043 05/08/2015450,000.00 434,460.94--- 434,178.00(571.62) 2.389 3.031AAA256350005 LC-Project Fund-Toll 23136AEYG6 Agency MBS Federal National Mortgage Association06/25/2018 07/02/2015223,116.14 225,905.10--- 223,236.62 (2,214.28) 1.825 1.989AAA256350023 LC-Sr Lien Reserve Fund-138378KWU9 Agency MBS The Government National Mortgage Association Guara11/16/2041 05/22/201570,395.8968,630.50--- 67,870.79(794.67) 1.400 2.546AAA256350005 LC-Project Fund-Toll 236225FLU1 Agency MBS Ginnie Mae II02/20/2042 08/06/2015243,793.28 252,097.49--- 250,273.31 (1,701.39) 1.750 1.127AAA256350023 LC-Sr Lien Reserve Fund-13138EJ6V5 Agency MBS Federal National Mortgage Association09/01/2026 11/18/2013116,425.46 123,611.10--- 123,508.79723.23 4.000 1.947AAA256350023 LC-Sr Lien Reserve Fund-138378XP62 Agency MBS The Government National Mortgage Association Guara05/16/2055 05/14/2015462,353.98 468,061.16--- 461,054.76 (6,897.90) 2.500 2.646AAA256350005 LC-Project Fund-Toll 236225FLA5 Agency MBS Ginnie Mae II01/20/2042 08/06/2015143,592.55 148,663.16--- 147,560.01 (1,027.93) 1.750 1.126AAA256350005 LC-Project Fund-Toll 23138EKUP8 Agency MBS Federal National Mortgage Association03/01/2025 09/21/2015255,805.74 269,575.29--- 266,994.68 (2,302.98) 5.000 1.796AAA256350023 LC-Sr Lien Reserve Fund-131404WTT3 Agency MBS Federal National Mortgage Association05/01/2019 12/31/201370,690.9078,802.15--- 73,582.16 (2,044.69) 4.500 1.295AAA256350023 LC-Sr Lien Reserve Fund-131417YKF3 Agency MBS Federal National Mortgage Association01/01/2030 07/10/2013139,131.33 146,783.55--- 150,266.01 3,469.73 4.500 2.185AAAPage 2 of 34ATTACHMENT 221 Source Account Account IdentifierSecurity Type Category IssuerFinal Maturity Trade Date Current Face Value Original CostNext Call DateBase Market ValueBase Net Total Unrealized Gain/Loss Coupon YieldSummarized Credit RatingSTAMP Portfolio by Investment Category for quarter ended December 31, 2015256350023 LC-Sr Lien Reserve Fund-131385XBG1 Agency MBS Federal National Mortgage Association 03/01/2018 09/13/2013 12,538.22 13,353.20 --- 12,832.74 (60.61) 6.000 1.783 AAA256350023 LC-Sr Lien Reserve Fund-131416YXJ2 Agency MBS Federal National Mortgage Association 08/01/2026 07/03/2013 59,929.50 62,748.06 --- 62,937.96 728.31 3.500 1.845 AAA256350022 LC-Sr Lien Ob Fund-1 Interest31402RBG3 Agency MBS Federal National Mortgage Association 09/01/2019 --- 54,644.70 58,614.52 --- 56,469.29 (397.90) 6.000 1.859 AAA205091001 LC-2013 A Capitalized Interest 31402RBG3 Agency MBS Federal National Mortgage Association 09/01/2019 --- 186,877.00 200,433.88 --- 193,116.82 (1,353.47) 6.000 1.859 AAA256350005 LC-Project Fund-Toll 23138L1TX7 Agency MBS Federal National Mortgage Association 11/01/2017 06/18/2015 309,901.30 311,305.54 --- 311,416.71 492.26 1.660 1.825 AAA256350022 LC-Sr Lien Ob Fund-1 Interest31385JLF3 Agency MBS Federal National Mortgage Association 08/01/2017 09/18/2013 104,867.00 111,945.52 --- 107,348.15 (680.30) 6.000 1.757AAA256350023 LC-Sr Lien Reserve Fund-138378KSL4 Agency MBS The Government National Mortgage Association Guara12/16/2046---425,000.00 415,829.11--- 411,247.00 (4,686.60) 2.791 3.322AAA256350023 LC-Sr Lien Reserve Fund-13137B6ZL8 Agency MBS Federal Home Loan Mortgage Corp12/25/2019 01/07/201445,542.0146,452.34--- 45,951.44(152.46) 2.075 1.742AAA256350005 LC-Project Fund-Toll 236225EUY6 Agency MBS Ginnie Mae II09/20/2039 09/17/2015129,024.28 132,693.42--- 136,908.95 4,259.57 1.875 1.125AAA256350023 LC-Sr Lien Reserve Fund-131418AFW3 Agency MBS Federal National Mortgage Association06/01/2022 07/10/2013207,165.03 213,962.63--- 213,736.30 1,310.44 3.000 1.602AAA256350023 LC-Sr Lien Reserve Fund-13138L33G8 Agency MBS Federal National Mortgage Association06/01/2020 11/12/2015100,000.0099,875.00--- 99,572.00(302.93) 2.010 2.070AAA205091001 LC-2013 A Capitalized Interest 31410GSQ7 Agency MBS Federal National Mortgage Association12/01/2017 07/05/201392,490.6199,311.79--- 94,749.23(944.92) 6.000 2.076AAA256350023 LC-Sr Lien Reserve Fund-138378B6A2 Agency MBS Government National Mortgage Association11/16/2052 01/22/2015135,942.30 131,656.92--- 131,843.64300.43 1.826 2.893AAA205091001 LC-2013 A Capitalized Interest 31294LPZ0 Agency MBS Federal Home Loan Mortgage Corp12/01/2016 07/05/201375,301.9879,608.31--- 76,236.48(312.13) 6.000 1.890AAA205091001 LC-2013 A Capitalized Interest 36200AFG9 Agency MBS Government National Mortgage Association11/15/2017 07/09/201330,744.8932,762.52--- 31,412.36(375.98) 5.500 2.367AAA205091001 LC-2013 A Capitalized Interest 3128MBTH0 Agency MBS Federal Home Loan Mortgage Corp03/01/2019 07/26/201386,466.5691,654.55--- 89,426.31(109.88) 5.000 1.571AAA205091001 LC-2013 A Capitalized Interest 36290WH47 Agency MBS Government National Mortgage Association09/15/2018 07/18/2013738,975.10 785,161.05--- 759,223.02 (7,555.38) 4.500 1.750AAA205091001 LC-2013 A Capitalized Interest 3128H4NR6 Agency MBS Federal Home Loan Mortgage Corp05/01/2018 07/16/201364,332.0368,151.74--- 66,534.12134.04 5.000 1.101AAA205091001 LC-2013 A Capitalized Interest 31402QT68 Agency MBS Federal National Mortgage Association10/01/2019 07/11/2013195,844.40 211,573.15--- 203,909.27 (1,830.81) 6.000 1.921AAA205091001 LC-2013 A Capitalized Interest 3128PGLY7 Agency MBS Federal Home Loan Mortgage Corp05/01/2017 07/17/2013122,178.40 128,745.49--- 126,360.57 1,637.05 5.000 -0.799AAA205091001 LC-2013 A Capitalized Interest 3128GNR59 Agency MBS Federal Home Loan Mortgage Corp10/01/2016 07/05/201363,728.1467,512.01--- 64,483.32(342.85) 6.000 2.045AAA256350023 LC-Sr Lien Reserve Fund-13128MMAK9 Agency MBS Federal Home Loan Mortgage Corp09/01/2019 07/08/2013126,706.61 134,704.97--- 133,117.97 1,073.39 5.000 1.300AAA205091001 LC-2013 A Capitalized Interest 31401MWC1 Agency MBS Federal National Mortgage Association06/01/2018 07/12/2013572,000.38 609,895.41--- 591,105.19466.35 4.500 1.065AAA205091001 LC-2013 A Capitalized Interest 3128PHVS7 Agency MBS Federal Home Loan Mortgage Corp11/01/2019 07/16/201357,567.0660,661.29--- 59,537.58283.81 5.000 0.639AAA205091001 LC-2013 A Capitalized Interest 3132FEAK7 Agency MBS Federal Home Loan Mortgage Corp12/01/2017 07/03/2013110,784.67 117,397.13--- 114,576.83326.43 5.000 0.456AAA256350023 LC-Sr Lien Reserve Fund-13136AEYG6 Agency MBS Federal National Mortgage Association06/25/2018 11/20/2013143,131.11 144,260.51--- 143,208.40(503.32) 1.825 1.989AAA256350005 LC-Project Fund-Toll 2161571FK5 Asset Backed Chase Issuance Trust08/16/2021 12/10/2015150,000.00 148,359.38--- 147,729.00(650.14) 1.580 2.021AAA256350005 LC-Project Fund-Toll 258768WAD1 Asset Backed Mercedes-Benz Auto Receivables Trust 2013-1 11/15/2019 06/16/2015350,000.00 351,066.41--- 349,695.50 (1,112.89) 1.130 1.374AAA256350005 LC-Project Fund-Toll 258769AAD8 Asset Backed Mercedes-Benz Auto Lease Trust 2015-B07/16/2018 10/21/2015255,000.00 254,990.34--- 253,816.80 (1,174.00) 1.340 1.588AAA256350005 LC-Project Fund-Toll 290290KAD7 Asset Backed USAA Auto Owner Trust 2014-105/15/2019 06/12/2015445,000.00 443,991.80--- 443,242.25 (1,089.58) 0.940 1.409AAA256350001 LC-Project Fund-2 Senior Lien65474VAG6 Asset Backed Nissan Master Owner Trust Receivables02/15/2018 11/10/2015 1,600,000.00 1,599,750.00--- 1,600,000.00236.01 0.631 0.850AAA256350004 LC-PF-2 Sales Tax Revenue Bond65474VAG6 Asset BackedNissan Master Owner Trust Receivables02/15/2018 11/10/2015 1,400,000.00 1,399,781.25--- 1,400,000.00206.51 0.631 0.850AAA256350004 LC PF 2 Sales Tax Revenue Bond65474VAG6Asset BackedNissan Master Owner Trust Receivables02/15/201811/10/20151,400,000.001,399,781.251,400,000.00206.510.6310.850AAA256350005 LC-Project Fund-Toll 258772PAC2 Asset Backed Mercedes-Benz Auto Receivables Trust 2015-1 06/15/2018 08/04/2015 390,000.00 390,045.70 --- 389,703.60 (1,470.95) 0.601 0.950 AAA256350005 LC-Project Fund-Toll 2161571GQ1 Asset Backed Chase Issuance Trust 11/15/2019 10/28/2015 120,000.00 120,510.94 --- 119,656.80 (813.16) 1.380 1.538 AAA256350005 LC-Project Fund-Toll 260689LAC9 Asset Backed MMAF EQUIP FIN LLC 2013-A 12/11/2017 08/05/2015 113,879.65 113,933.04 --- 113,771.47 (198.42) 1.030 1.124 AAA256350001 LC-Project Fund-2 Senior Lien55314MAD8 Asset Backed MMAF Equipment Finance LLC 2011-A 07/15/2017 11/04/2015 128,874.27 129,176.32 --- 129,177.12 27.21 2.100 1.259 AAA256350005 LC-Project Fund-Toll 255315GAC2 Asset Backed MMAF EQUIP FIN LLC 2015-A 10/16/2019 07/30/2015 247,000.00 246,286.02 --- 245,142.56 (1,298.35) 1.390 1.728 AAA256350001 LC-Project Fund-2 Senior Lien161571GM0 Asset Backed Chase Issuance Trust 04/16/2018 11/04/2015 130,000.00 129,903.52 --- 129,942.80 6.93 0.451 0.890 AAA256350005 LC-Project Fund-Toll 202582JGS3 Asset Backed American Express Credit Account Master Trust 01/15/2020 07/13/2015 500,000.00 500,859.38 --- 498,985.00 (1,669.73) 1.260 1.402 AAA256350005 LC-Project Fund-Toll 262888YAA0 CMONCUA Guaranteed Notes Trust 2011-R101/08/2020 07/14/2015222,928.10 224,007.91--- 223,817.58(79.31) 0.642 0.910AAA256350001 LC-Project Fund-2 Senior Lien25737LAK6 CPDominion Gas Holdings, LLC01/19/2016 12/02/2015 2,000,000.00 1,998,459.44--- 1,999,660.00250.00 0.000 0.340AAA256350001 LC-Project Fund-2 Senior Lien23337SAB0 CPDTE Gas Company01/11/2016 12/14/2015 2,000,000.00 1,999,066.66--- 1,999,840.00173.34 0.000 0.288AAA256350005 LC-Project Fund-Toll 243357LA51 CPHitachi Capital America Corp.01/05/2016 12/22/2015475,000.00 474,794.96--- 474,995.2553.83 0.000 0.090AA256350001 LC-Project Fund-2 Senior Lien65475LAU6 CPNissan Motor Acceptance Corporation01/28/2016 12/21/2015 2,000,000.00 1,998,417.22--- 1,999,460.00615.00 0.000 0.360AA256350022 LC-Sr Lien Ob Fund-1 Interest02581RAM5 CPAmerican Express Credit Corporation01/21/2016 12/07/2015725,000.00 724,546.88--- 724,862.2563.64 0.000 0.342AAA256350001 LC-Project Fund-2 Senior Lien02581RAM5 CPAmerican Express Credit Corporation01/21/2016 12/07/2015 2,000,000.00 1,998,750.00--- 1,999,620.00175.56 0.000 0.342AAA256350004 LC-PF-2 Sales Tax Revenue Bond 02581RAM5 CPAmerican Express Credit Corporation01/21/2016 12/07/2015950,000.00 949,406.25--- 949,819.5083.39 0.000 0.342AAA256350001 LC-Project Fund-2 Senior Lien05333TA52 CPAutoZone, Inc.01/05/2016 11/18/2015 1,000,000.00 999,333.33--- 999,990.0045.56 0.000 0.090AA256350004 LC-PF-2 Sales Tax Revenue Bond 05333TA52 CPAutoZone, Inc.01/05/2016 11/18/2015 1,600,000.00 1,598,933.33--- 1,599,984.0072.89 0.000 0.090AA256350004 LC-PF-2 Sales Tax Revenue Bond 65475LAU6 CPNissan Motor Acceptance Corporation01/28/2016 12/21/2015700,000.00 699,446.03--- 699,811.00215.25 0.000 0.360AA256350001 LC-Project Fund-2 Senior Lien92780JAL5 CPVirginia Electric and Power Company01/20/2016 11/09/2015 2,000,000.00 1,998,146.12--- 1,999,640.00136.11 0.000 0.341AAA256350004 LC-PF-2 Sales Tax Revenue Bond 88513AAE2 CPThomson Reuters Corporation01/14/2016 11/10/2015 1,800,000.00 1,798,204.50--- 1,799,802.00172.50 0.000 0.305AA256350001 LC-Project Fund-2 Senior Lien88513AAE2 CPThomson Reuters Corporation01/14/2016 11/09/2015 2,000,000.00 1,997,833.34--- 1,999,780.00213.33 0.000 0.305AA256350004 LC-PF-2 Sales Tax Revenue Bond 42824EA88 CPHewlett Packard Enterprise Company01/08/2016 11/18/2015 1,800,000.00 1,798,481.00--- 1,799,910.00127.00 0.000 0.257AA256350001 LC-Project Fund-2 Senior Lien42824EA88 CPHewlett Packard Enterprise Company01/08/2016 11/18/2015 2,000,000.00 1,998,312.22--- 1,999,900.00141.11 0.000 0.257AA256350004 LC-PF-2 Sales Tax Revenue Bond 27886LB87 CPEcolab Inc.02/08/2016 11/10/2015 1,500,000.00 1,498,056.66--- 1,499,280.00119.17 0.000 0.455AA256350001 LC-Project Fund-2 Senior Lien27886LB87 CPEcolab Inc.02/08/2016 11/10/2015 2,000,000.00 1,997,408.88--- 1,999,040.00158.89 0.000 0.455AA256350001 LC-Project Fund-2 Senior Lien58507AAB9 CPMedtronic Global Holdings S.C.A.01/11/2016 12/08/2015 2,000,000.00 1,999,028.34--- 1,999,840.00134.44 0.000 0.288AA256350004 LC-PF-2 Sales Tax Revenue Bond 58507AAB9 CPMedtronic Global Holdings S.C.A.01/11/2016 12/08/2015 1,500,000.00 1,499,271.26--- 1,499,880.00100.83 0.000 0.288AA256350001 LC-Project Fund-2 Senior Lien85572AAD8 CPStarwood Hotels & Resorts Worldwide, Inc.01/13/2016 11/10/2015 2,000,000.00 1,998,622.22--- 1,999,800.0066.67 0.000 0.300AA256350004 LC-PF-2 Sales Tax Revenue Bond 85572AAD8 CPStarwood Hotels & Resorts Worldwide, Inc.01/13/2016 11/10/2015 1,800,000.00 1,798,760.00--- 1,799,820.0060.00 0.000 0.300AA256350004 LC-PF-2 Sales Tax Revenue Bond 07588LA81 CPBecton, Dickinson and Company01/08/2016 11/10/2015 1,250,000.00 1,249,010.41--- 1,249,937.5059.03 0.000 0.257AA256350001 LC-Project Fund-2 Senior Lien91302CAC1 CPUnited Technologies Corporation01/12/2016 12/09/2015 1,300,000.00 1,299,140.56--- 1,299,883.00161.05 0.000 0.295AA256350022 LC-Sr Lien Ob Fund-1 Interest78355AAS3 CPRyder System, Inc.01/26/2016 12/28/2015125,000.00 124,939.58--- 124,968.7520.84 0.000 0.360AA256350004 LC-PF-2 Sales Tax Revenue Bond 00287BA74 CPAbbVie Inc.01/07/2016 12/16/2015650,000.00 649,761.66--- 649,980.5045.50 0.0000.180AA256350001 LC-Project Fund-2 Senior Lien00287BA74 CPAbbVie Inc.01/07/2016 12/16/2015 1,800,000.00 1,799,339.99--- 1,799,946.00126.00 0.000 0.180AA256350004 LC-PF-2 Sales Tax Revenue Bond 05634BA65 CPBacardi U.S.A., Inc.01/06/2016 11/18/2015 1,800,000.00 1,798,750.49--- 1,799,964.0091.50 0.000 0.144AA256350001 LC-Project Fund-2 Senior Lien05634BA65 CPBacardi U.S.A., Inc.01/06/2016 11/18/2015 2,000,000.00 1,998,611.66--- 1,999,960.00101.67 0.000 0.144AA256350001 LC-Project Fund-2 Senior Lien25156KA87 CPDeutsche Telekom AG01/08/2016 11/10/2015 2,000,000.00 1,998,353.34--- 1,999,900.00102.22 0.000 0.257AA256350004 LC-PF-2 Sales Tax Revenue Bond 91058TAK2 CPUnited Healthcare Corporation01/19/2016 12/17/2015 1,600,000.00 1,599,032.90--- 1,599,728.00271.99 0.000 0.340AA256350001 LC-Project Fund-2 Senior Lien91058TAK2 CPUnited Healthcare Corporation01/19/2016 12/17/2015 2,000,000.00 1,998,791.12--- 1,999,660.00340.00 0.000 0.340AAPage 3 of 3422 Source Account Account IdentifierSecurity Type Category IssuerFinal Maturity Trade Date Current Face Value Original CostNext Call DateBase Market ValueBase Net Total Unrealized Gain/Loss Coupon YieldSummarized Credit RatingSTAMP Portfolio by Investment Category for quarter ended December 31, 2015256350001 LC-Project Fund-2 Senior Lien28103AAF1 CP Edison International 01/15/2016 12/09/2015 2,000,000.00 1,998,787.22 --- 1,999,740.00 198.89 0.000 0.335 AA256350004 LC-PF-2 Sales Tax Revenue Bond 28103AAF1 CP Edison International 01/15/2016 12/14/2015 1,600,000.00 1,599,035.55 --- 1,599,792.00 227.56 0.000 0.335 AA256350004 LC-PF-2 Sales Tax Revenue Bond 25737LAM2 CP Dominion Gas Holdings, LLC 01/21/2016 11/30/2015 1,800,000.00 1,798,572.01 --- 1,799,658.00 218.00 0.000 0.342 AAA256350004 LC-PF-2 Sales Tax Revenue Bond 61979JA72 CP Motiva Enterprises LLC 01/07/2016 11/16/2015 1,800,000.00 1,798,725.01 --- 1,799,946.00 96.00 0.000 0.180 AAA256350001 LC-Project Fund-2 Senior Lien61979JA72 CP Motiva Enterprises LLC 01/07/2016 11/16/2015 2,000,000.00 1,998,555.56 --- 1,999,940.00 106.67 0.000 0.180 AAA256350001 LC-Project Fund-2 Senior Lien41282JAB7 CP Harley-Davidson Financial Services, Inc. 01/11/2016 12/03/2015 2,000,000.00 1,998,988.88 --- 1,999,840.00 128.89 0.000 0.288 AA256350004 LC-PF-2 Sales Tax Revenue Bond 41282JAB7 CP Harley-Davidson Financial Services, Inc. 01/11/2016 12/03/2015 1,600,000.00 1,599,191.10 --- 1,599,872.00 103.11 0.000 0.288 AA256350001 LC-Project Fund-2 Senior Lien63946DAC0 CP NBCUniversal Enterprise, Inc. 01/12/2016 12/17/2015 2,000,000.00 1,998,988.88 --- 1,999,820.00 247.78 0.000 0.295 AA205091001 LC-2013 A Capitalized Interest 037833AJ9 Corporate Apple Inc. 05/03/2018 06/17/2015 3,000,000.00 2,960,430.00 --- 2,975,640.00 8,052.27 1.000 1.354 AA256350005 LC-Project Fund-Toll 200138CAA6 Corporate AIG GLOBAL FDG SR SECD MEDIUMTERM NTS 12/15/2017 06/22/2015 300,000.00 300,696.00 --- 298,491.00 (2,061.53) 1.650 1.913 A256350022 LC-Sr Lien Ob Fund-1 Interest38144LAB6 Corporate The Goldman Sachs Group, Inc. 09/01/2017 07/03/2013 300,000.00 322,515.00 --- 321,282.00 11,761.08 6.250 1.903 A256350005 LC-Project Fund-Toll 2553794AA6 Corporate MUFG Americas Holdings Corporation 02/09/2018 06/11/2015 300,000.00 298,716.00 01/09/2018 297,378.00 (1,597.57) 1.6252.051 A256350005 LC-Project Fund-Toll 289153UAE1 Corporate Total Capital Canada Ltd. 01/15/2018 06/10/2015 300,000.00 300,000.00 --- 298,146.00 (1,854.00) 1.450 1.760 AA256350005 LC-Project Fund-Toll 2718172AA7 Corporate Philip Morris International Inc. 05/16/2018 06/23/2015 250,000.00 277,717.50 --- 272,757.50 (115.59) 5.650 1.721 A256350005 LC-Project Fund-Toll 2822582AZ5 Corporate Shell International Finance B.V. 11/15/2016 06/12/2015 300,000.00 300,429.00 --- 299,235.00 (1,030.52) 0.900 1.194 AA256350022 LC-Sr Lien Ob Fund-1 Interest38143USC6 Corporate The Goldman Sachs Group, Inc. 02/07/2016 07/03/2013 600,000.00 627,936.00 --- 601,524.00 414.11 3.625 1.067 A256350005 LC-Project Fund-Toll 2166754AK7 Corporate CHEVRON PHILLIPS CHEM CO LLC / CHEVRON 05/01/2018 06/11/2015 300,000.00 299,631.00 --- 296,259.00 (3,441.16) 1.700 2.251 A256350022 LC-Sr Lien Ob Fund-1 Interest05565QCC0 Corporate BP Capital Markets P.L.C. 11/06/2017 07/03/2013 300,000.00 292,194.00 --- 298,239.00 1,651.64 1.375 1.699 A256350005 LC-Project Fund-Toll 226442CAD6 Corporate Duke Energy Carolinas, LLC 04/15/2018 06/11/2015 116,000.00 127,422.52 --- 124,328.80 (938.06) 5.100 1.879 AA256350022 LC-Sr Lien Ob Fund-1 Interest166764AE0 Corporate Chevron Corporation 06/24/2018 06/17/2015 300,000.00 301,848.00 05/24/2018 298,467.00 (3,053.69) 1.718 1.930 AA256350005 LC-Project Fund-Toll 2828807CM7 Corporate Simon Property Group, L.P. 02/01/2018 11/03/2015 140,000.00 139,552.00 11/01/2017 138,853.40 (729.17) 1.500 1.903 A256350005 LC-Project Fund-Toll 2084664CD1 Corporate Berkshire Hathaway Finance Corporation 01/12/2018 08/11/2015 300,000.00 300,162.00 --- 299,316.00 (820.29) 0.621 0.743AA256350022 LC-Sr Lien Ob Fund-1 Interest891145TN4 Corporate The Toronto-Dominion Bank 03/13/2017 05/21/2015 1,000,000.00 1,010,240.00 --- 1,001,610.00 (5,245.25) 1.500 1.364 AAA205091001 LC-2013 A Capitalized Interest 084664BE0 Corporate Berkshire Hathaway Finance Corporation 05/15/2018 06/17/2015 800,000.00 890,632.00 --- 868,328.00 (6,108.86) 5.400 1.710 AA256350022 LC-Sr Lien Ob Fund-1 Interest48121CYK6 Corporate JPMorgan Chase Bank, National Association 10/01/2017 07/03/2013 300,000.00 341,424.00 --- 320,748.00 3,080.25 6.000 1.958 A256350005 LC-Project Fund-Toll 2446438RR6 Corporate The Huntington National Bank 11/06/2018 11/03/2015 250,000.00 249,705.00 10/06/2018 249,310.00 (410.07) 2.200 2.300 A256350005 LC-Project Fund-Toll 274153WCE7 Corporate Pricoa Global Funding I 08/18/2017 06/10/2015 300,000.00 299,511.00 --- 297,981.00 (1,652.33) 1.350 1.770 AA256350022 LC-Sr Lien Ob Fund-1 Interest89236TAY1 Corporate Toyota Motor Credit Corporation 10/24/2018 06/17/2015 500,000.00 505,870.00 --- 502,830.00 (2,136.82) 2.000 1.792 AA205091001 LC-2013 A Capitalized Interest 89236TAY1 Corporate Toyota Motor Credit Corporation 10/24/2018 06/17/2015 2,000,000.00 2,023,480.00 --- 2,011,320.00 (8,547.29) 2.000 1.792 AA256350005 LC-Project Fund-Toll 259562VAT4 Corporate Berkshire Hathaway Energy Company 04/01/2018 10/15/2015 150,000.00 165,180.00 --- 162,049.50 (1,914.89) 5.750 2.076 A256350005 LC-Project Fund-Toll 2928668AF9 Corporate Volkswagen Group of America Finance, LLC 11/20/2017 06/11/2015 300,000.00 300,525.00 --- 291,282.00 (9,128.03) 1.600 3.199 A256350005 LC-Project Fund-Toll 206050TLY6 CorporateBank of America, National Association03/26/2018 06/10/2015300,000.00 298,968.00--- 297,744.00(1,425.42)1.650 1.995A256350005 LC Project Fund Toll 206050TLY6CorporateBank of America, National Association03/26/201806/10/2015300,000.00298,968.00297,744.00(1,425.42)1.6501.995A256350004 LC-PF-2 Sales Tax Revenue Bond 91324PCJ9 CorporateUnitedHealth Group Incorporated01/17/2017 08/03/2015395,000.00 395,302.97--- 395,264.6546.28 0.765 0.714A256350001 LC-Project Fund-2 Senior Lien91324PCJ9 CorporateUnitedHealth Group Incorporated01/17/2017 08/03/2015290,000.00 290,222.43--- 290,194.3033.98 0.765 0.714A256350005 LC-Project Fund-Toll 2233851BF0 CorporateDaimler Finance North America LLC08/01/2017 06/12/2015300,000.00 299,250.00--- 297,288.00 (2,151.04) 1.375 1.957A256350005 LC-Project Fund-Toll 241283LAB1 CorporateHarley-Davidson Financial Services, Inc.03/15/2017 06/22/2015250,000.00 256,430.00--- 253,330.00 (1,176.74) 2.700 1.579A256350005 LC-Project Fund-Toll 269353RET1 CorporatePNC BANK NA11/05/2018 10/29/2015250,000.00 249,962.50 10/05/2018 249,360.00(604.51) 1.800 1.893A205091001 LC-2013 A Capitalized Interest 89114QAE8 CorporateThe Toronto-Dominion Bank10/19/2016 07/08/2013750,000.00 776,452.50--- 757,867.50 1,317.95 2.375 1.054AA205091001 LC-2013 A Capitalized Interest 459200GX3 CorporateInternational Business Machines Corporation07/22/2016 07/10/2013465,000.00 477,936.30--- 467,780.70364.76 1.950 0.874AA256350005 LC-Project Fund-Toll 217401QAC5 CorporateCitizens Bank, National Association12/03/2018 11/30/2015250,000.00 249,675.00--- 249,705.0021.66 2.300 2.342A256350022 LC-Sr Lien Ob Fund-1 Interest02580ECC5 CorporateAmerican Express Bank, FSB.09/13/2017 07/08/2013250,000.00 287,890.00--- 267,785.00 1,953.99 6.000 1.733A256350005 LC-Project Fund-Toll 291159HHD5 CorporateU.S. Bancorp05/15/2017 06/11/2015300,000.00 303,276.00 04/15/2017 300,906.00 (1,405.21) 1.650 1.413AA256350005 LC-Project Fund-Toll 246623EKD0 CorporateJPMorgan Chase & Co.03/01/2018---480,000.00 479,194.80 01/30/2018 477,672.00 (1,669.63) 1.700 1.929A256350005 LC-Project Fund-Toll 289837LAA3 CorporateThe Trustees of Princeton University03/01/2019---620,000.00 690,247.32--- 679,141.80 (1,577.07) 4.950 1.835AAA256350005 LC-Project Fund-Toll 240428HPQ9 CorporateHSBC USA Inc.03/05/2018 08/17/2015145,000.00 144,315.60--- 144,190.90(221.73) 1.700 1.963AA256350022 LC-Sr Lien Ob Fund-1 Interest233851AT1 CorporateDaimler Finance North America LLC01/11/2016 07/08/2013500,000.00 497,995.00--- 500,020.0042.10 1.250 1.099A205091001 LC-2013 A Capitalized Interest 78008K5V1 CorporateRoyal Bank of Canada04/19/2016 07/08/2013 2,000,000.00 2,099,900.00--- 2,012,320.00 1,458.82 2.875 0.812AA256350005 LC-Project Fund-Toll 238141GRC0 CorporateThe Goldman Sachs Group, Inc.01/22/2018 06/10/201580,000.0081,027.20--- 80,691.20(125.21) 2.375 1.944A205091001 LC-2013 A Capitalized Interest 44328MAL8 CorporateHSBC Bank PLC05/24/2016--- 3,625,000.00 3,799,301.25--- 3,655,812.50 6,349.43 3.100 0.949AA205091001 LC-2013 A Capitalized Interest 30231GAL6 CorporateExxon Mobil Corporation03/06/2018 06/10/2015580,000.00 579,344.60--- 579,077.80(398.92) 1.305 1.379AAA256350022 LC-Sr Lien Ob Fund-1 Interest30231GAL6 CorporateExxon Mobil Corporation03/06/2018 06/10/2015420,000.00 419,525.40--- 419,332.20(288.88) 1.305 1.379AAA256350022 LC-Sr Lien Ob Fund-1 Interest94974BGF1 CorporateWells Fargo & Company01/30/2020 06/03/2015 1,000,000.00 991,540.00--- 991,240.00 (1,293.75) 2.150 2.376AA256350005 LC-Project Fund-Toll 249327M2H6 CorporateKeyBank National Association06/01/2018 11/06/2015250,000.00 248,740.00--- 248,250.00(557.64) 1.700 1.998A256350005 LC-Project Fund-Toll 2002799AM6 CorporateAbbey National Treasury Services PLC03/13/2017 06/11/2015300,000.00 300,810.00--- 298,761.00 (1,798.81) 1.375 1.724A256350005 LC-Project Fund-Toll 290261XHH8 CorporateUBS AG03/26/2018 06/22/2015250,000.00 249,357.50--- 249,582.50104.05 1.800 1.876A256350005 LC-Project Fund-Toll 2037833AM2 CorporateApple Inc.05/05/2017 06/10/2015300,000.00 300,957.00--- 300,177.00(505.55) 1.050 1.006AA205091001 LC-2013 A Capitalized Interest 89153VAC3 CorporateTotal Capital International06/28/2017 07/08/2013160,000.00 157,765.60--- 160,409.60 1,268.67 1.550 1.376AA256350005 LC-Project Fund-Toll 2532457BK3 CorporateEli Lilly and Company03/01/2018 06/10/2015300,000.00 298,908.00--- 299,262.00135.93 1.250 1.365AA256350022 LC-Sr Lien Ob Fund-1 Interest46625HJL5 CorporateJPMorgan Chase & Co.05/15/2018 06/03/2015500,000.00 497,550.00--- 496,290.00 (1,723.70) 1.625 1.946A205091001 LC-2013 A Capitalized Interest 90327QCW7 CorporateUSAA Capital Corporation12/13/2016 07/11/2013 4,000,000.00 4,145,440.00--- 4,047,320.00 6,245.27 2.250 0.999AA256350022 LC-Sr Lien Ob Fund-1 Interest63307EAB3 CorporateNational Bank of Canada10/19/2016 05/21/2015900,000.00 918,414.00--- 907,947.00 (2,609.84) 2.200 1.088AAA256350005 LC-Project Fund-Toll 238147MAA3 CorporateThe Goldman Sachs Group, Inc.07/19/2018 12/02/2015100,000.00 102,578.00--- 101,955.00(558.41) 2.900 2.108A256350005 LC-Project Fund-Toll 246849LSL6 CorporateJackson National Life Global Funding10/15/2018 10/07/2015150,000.00 149,922.00--- 148,942.50(984.91) 1.875 2.136AA256350005 LC-Project Fund-Toll 2209111ET6 CorporateConsolidated Edison Company of New York, Inc. 04/01/2018 06/22/2015220,000.00 245,828.00--- 237,883.80 (3,189.68) 5.850 2.129A256350005 LC-Project Fund-Toll 230231GAL6 CorporateExxon Mobil Corporation03/06/2018 06/11/2015300,000.00 299,583.00--- 299,523.00(143.43) 1.305 1.379AAA256350005 LC-Project Fund-Toll 2063679ZT4 CorporateBank of Montreal01/30/2017 06/12/2015300,000.00 304,620.00--- 302,367.00(719.26) 1.950 1.214AAA256350005 LC-Project Fund-Toll 20258M0DZ9 CorporateAmerican Express Credit Corporation11/05/2018 10/29/2015150,000.00 149,986.50 10/05/2018 149,604.00(383.19) 1.875 1.971A256350005 LC-Project Fund-Toll 259217GAY5 CorporateMetropolitan Life Global Funding I01/10/2018 06/12/2015300,000.00 299,646.00--- 298,425.00 (1,295.10) 1.500 1.765AA256350005 LC-Project Fund-Toll 280851QDA9 CorporateThe Charles Schwab Corporation09/01/2017 10/27/201565,000.0071,075.55--- 69,982.25(529.38) 6.375 1.690A256350022 LC-Sr Lien Ob Fund-1 Interest78011DAC8 CorporateRoyal Bank of Canada09/19/2017 05/21/2015 1,000,000.00 1,001,090.00--- 995,270.00 (5,544.13) 1.200 1.480AAA205091001 LC-2013 A Capitalized Interest 822582AC6 CorporateShell International Finance B.V.03/22/2017 07/08/2013400,000.00 449,936.00--- 418,964.00 2,108.42 5.200 1.285AAPage 4 of 3423 Source Account Account IdentifierSecurity Type Category IssuerFinal Maturity Trade Date Current Face Value Original CostNext Call DateBase Market ValueBase Net Total Unrealized Gain/Loss Coupon YieldSummarized Credit RatingSTAMP Portfolio by Investment Category for quarter ended December 31, 2015256350005 LC-Project Fund-Toll 2842434CN0 Corporate Southern California Gas Company 06/15/2018 06/15/2015 250,000.00 249,992.50 --- 249,102.50 (891.22) 1.550 1.700 AA256350005 LC-Project Fund-Toll 291324PCF7 Corporate UnitedHealth Group Incorporated 12/15/2017 06/11/2015 300,000.00 300,543.00 --- 299,118.00 (1,308.30) 1.400 1.553 A256350005 LC-Project Fund-Toll 259217GAZ2 Corporate Metropolitan Life Global Funding I 06/22/2018 11/10/2015 150,000.00 150,199.50 --- 149,995.50 (195.41) 1.875 1.876 AA256350023 LC-Sr Lien Reserve Fund-1 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2015 --- 0.00 108,223.49 --- 108,223.49 0.00 0.000 0.000 NA256350022 LC-Sr Lien Ob Fund-1 Interest 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2015 --- 0.00 25,491.30 --- 25,491.30 0.00 0.000 0.000 NA205091001 LC-2013 A Capitalized Interest 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2015 12/28/2015 0.00 83,344.15 --- 83,344.15 0.00 0.000 0.000 NA256350001 LC-Project Fund-2 Senior Lien 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2015 --- 0.00 108,271.57 --- 108,271.57 0.00 0.000 0.000 NA256350004 LC-PF-2 Sales Tax Revenue Bond 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2015 12/18/2015 0.00 116,480.61 --- 116,480.61 0.00 0.000 0.000 NA256350005 LC-Project Fund-Toll 2 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2015 --- 0.00 88,697.68 --- 88,697.68 0.00 0.000 0.000 NA205091001 LC-2013 A Capitalized Interest 184126YS3 Muni Clayton County Water Authority 05/01/2017 07/11/2013 770,000.00 755,939.80 --- 772,579.50 7,628.69 1.300 1.046 AA205091001 LC-2013 A Capitalized Interest 64966H4E7 Muni New York, City of 10/01/2017 07/12/2013 1,170,000.00 1,238,222.70 --- 1,207,826.10 8,870.30 3.140 1.265 AA256350005 LC-Project Fund-Toll 265819WAC7 Muni North Carolina Eastern Municipal Power Agency 07/01/2018 --- 160,000.00 160,404.60 --- 160,556.80 195.71 2.003 1.860 A256350005 LC-Project Fund-Toll 2544587B98 Muni Municipal Improvement Corporation of Los Angeles 11/01/2018 11/04/2015 160,000.00 160,000.00 --- 161,545.60 1,545.60 2.3441.991 A256350005 LC-Project Fund-Toll 2180848HP1 Muni Clark, County of 07/01/2017 07/06/2015 120,000.00 126,764.40 --- 124,546.80 (600.85) 4.300 1.730 AA256350005 LC-Project Fund-Toll 2937308AZ7 Muni WBRP 3.2 WASHINGTON BIOMED RES 03/01/2018 09/25/2015 95,000.00 95,000.00 --- 94,468.00 (532.00) 1.485 1.749 AA256350022 LC-Sr Lien Ob Fund-1 Interest235219JS2 Muni Dallas, City of 02/15/2017 07/10/2013 650,000.00 650,000.00 --- 654,407.00 4,407.00 1.589 0.980 AA205091001 LC-2013 A Capitalized Interest 235219JS2 Muni Dallas, City of 02/15/2017 07/10/2013 2,135,000.00 2,135,000.00 --- 2,149,475.30 14,475.30 1.589 0.980 AA256350005 LC-Project Fund-Toll 249130TRY4 Muni Kentucky Housing Corporation 01/01/2017 06/17/2015 275,000.00 274,634.25 --- 273,957.75 (801.87) 0.937 1.320 AAA256350005 LC-Project Fund-Toll 213063A5D2 Muni California, State of 04/01/2016 06/29/2015 315,000.00 327,521.25 --- 319,419.45 186.49 5.950 0.329 AA256350005 LC-Project Fund-Toll 291476PPG7 Muni University of Oklahoma 07/01/2020 11/17/2015 80,000.00 79,544.00 --- 79,522.40 (31.65) 2.349 2.490 AA256350023 LC-Sr Lien Reserve Fund-1912828B58 US Gov Treasury, United States Department of 01/31/2021 --- 1,490,000.00 1,522,404.30 --- 1,512,007.30 (8,603.94) 2.125 1.819 AAA256350005 LC-Project Fund-Toll 2912828TG5 US Gov Treasury, United States Department of 07/31/2017 --- 1,250,000.00 1,243,451.18 --- 1,240,525.00 (3,345.47) 0.500 0.983 AAA205091001 LC-2013 A Capitalized Interest 912828M23 US Gov Treasury, United States Department of 10/31/2017 12/28/2015 800,000.00798,262.41 --- 799,272.00 1,002.13 0.428 0.484 AAA205091001 LC-2013 A Capitalized Interest 912828SY7 US Gov Treasury, United States Department of 05/31/2017 07/05/2013 3,900,000.00 3,828,550.78 --- 3,882,801.00 9,055.09 0.625 0.939 AAA205091001 LC-2013 A Capitalized Interest 912828UB4 US Gov Treasury, United States Department of 11/30/2019 06/17/2015 2,500,000.00 2,433,398.44 --- 2,443,450.00 2,241.37 1.000 1.598 AAA256350005 LC-Project Fund-Toll 2912828UZ1 US Gov Treasury, United States Department of 04/30/2018 --- 1,950,000.00 1,925,332.03 --- 1,924,942.50 (4,991.45) 0.625 1.185 AAA256350005 LC-Project Fund-Toll 2912828KQ2 US Gov Treasury, United States Department of 05/15/2019 --- 1,510,000.00 1,601,937.89 --- 1,592,989.60 (2,633.81) 3.125 1.450 AAA256350023 LC-Sr Lien Reserve Fund-1912828UF5 US Gov Treasury, United States Department of 12/31/2019 --- 1,250,000.00 1,231,787.31 --- 1,226,275.00 (6,813.62) 1.125 1.617 AAA256350005 LC-Project Fund-Toll 2912828KD1 US Gov Treasury, United States Department of 02/15/2019 --- 1,810,000.00 1,900,709.76 --- 1,886,001.90 (10,892.95) 2.750 1.372 AAA256350023 LC-Sr Lien Reserve Fund-1912828VV9 US Gov Treasury, United States Department of 08/31/2020 12/15/2015 85,000.00 86,580.47 --- 86,371.05 (197.15) 2.125 1.763 AAA256350022 LC-Sr Lien Ob Fund-1 Interest912828RX0 US Gov Treasury, United States Department of 12/31/2016 09/13/2013 950,000.00 945,212.89 --- 950,598.50 2,066.75 0.875 0.812 AAA256350005 LC-Project Fund-Toll 2912828UA6 US GovTreasury, United States Department of11/30/2017--- 1,465,000.00 1,461,189.26--- 1,452,869.80(8,995.04)0.625 1.063AAA256350005 LC Project Fund Toll 2912828UA6US GovTreasury, United States Department of11/30/20171,465,000.001,461,189.261,452,869.80(8,995.04)0.6251.063AAA256350005 LC-Project Fund-Toll 2912828M23 US Gov Treasury, United States Department of 10/31/2017 12/29/2015 425,000.00 424,196.39 --- 424,613.25 414.57 0.428 0.484 AAA205091001 LC-2013 A Capitalized Interest 912828J84 US Gov Treasury, United States Department of 03/31/2020 06/03/2015 4,300,000.00 4,243,023.44 --- 4,247,067.00 (2,528.28) 1.375 1.676 AAA256350022 LC-Sr Lien Ob Fund-1 Interest912828J84 US Gov Treasury, United States Department of 03/31/2020 --- 950,000.00 936,470.70 --- 938,305.50 333.05 1.375 1.676 AAA256350023 LC-Sr Lien Reserve Fund-1912828VB3 US Gov Treasury, United States Department of 05/15/2023 07/05/2013 2,000,000.00 1,858,906.25 --- 1,948,520.00 57,307.24 1.750 2.129 AAA256350023 LC-Sr Lien Reserve Fund-1912828KQ2 US Gov Treasury, United States Department of 05/15/2019 07/05/2013 500,000.00 539,902.34 --- 527,480.00 4,021.15 3.125 1.450 AAA256350005 LC-Project Fund-Toll 2912828UR9 US Gov Treasury, United States Department of 02/28/2018 10/02/2015 1,545,000.00 1,546,711.92 --- 1,531,836.60 (14,705.14) 0.7501.149 AAA256350022 LC-Sr Lien Ob Fund-1 Interest912828UA6 US Gov Treasury, United States Department of 11/30/2017 07/05/2013 1,250,000.00 1,214,648.44 --- 1,239,650.00 5,272.64 0.625 1.063 AAA205091001 LC-2013 A Capitalized Interest 912828UA6 US Gov Treasury, United States Department of 11/30/2017 07/05/2013 1,750,000.00 1,700,507.81 --- 1,735,510.00 7,381.70 0.625 1.063 AAA256350005 LC-Project Fund-Toll 2912828VV9 US Gov Treasury, United States Department of 08/31/2020 --- 1,110,000.00 1,136,562.31 --- 1,127,904.30 (7,877.98) 2.125 1.763 AAA256350022 LC-Sr Lien Ob Fund-1 Interest912828K41 US Gov Treasury, United States Department of 04/30/2017 07/30/2015 200,000.00 200,001.77 --- 199,824.00 (177.34) 0.334 0.404 AAA205091001 LC-2013 A Capitalized Interest 912828RU6 US Gov Treasury, United States Department of 11/30/2016 07/05/2013 3,500,000.00 3,496,855.47 --- 3,502,065.00 2,917.72 0.875 0.810 AAA256350023 LC-Sr Lien Reserve Fund-1912828RC6 US Gov Treasury, United States Department of 08/15/2021 11/10/2015 1,900,000.00 1,919,742.19 --- 1,922,496.00 3,183.20 2.125 1.902 AAA256350005 LC-Project Fund-Toll 2912828VK3 US Gov Treasury, United States Department of 06/30/2018 --- 1,525,000.00 1,543,510.95 --- 1,531,008.50 (10,184.24) 1.375 1.215 AAA205091001 LC-2013 A Capitalized Interest 912828UZ1 US Gov Treasury, United States Department of 04/30/2018 06/03/2015 3,400,000.00 3,360,421.88 --- 3,356,310.00 (11,862.60) 0.625 1.185 AAA256350022 LC-Sr Lien Ob Fund-1 Interest912828UZ1 US Gov Treasury, United States Department of 04/30/2018 07/14/2015 700,000.00 693,656.25 --- 691,005.00 (3,694.53) 0.625 1.185 AAA256350005 LC-Project Fund-Toll 2912828RX0 US Gov Treasury, United States Department of 12/31/2016 11/23/2015 1,000,000.00 1,002,187.50 --- 1,000,630.00 (1,353.95) 0.875 0.812 AAA256350023 LC-Sr Lien Reserve Fund-1912828TJ9 US Gov Treasury, United States Department of 08/15/2022 07/05/2013 495,000.00 461,355.47 --- 482,139.90 12,335.79 1.625 2.046 AAA256350004 LC-PF-2 Sales Tax Revenue Bond 64468EAY6 VRDN Labor, New Hampshire Department of 11/01/2020 11/04/2013 4,190,000.00 4,190,000.00 02/02/2016 4,190,000.00 0.00 0.330 0.330 AA256350004 LC-PF-2 Sales Tax Revenue Bond 64468EAZ3 VRDN Labor, New Hampshire Department of 11/01/2020 07/03/2013 3,200,000.00 3,200,000.00 02/02/2016 3,200,000.00 0.00 0.330 0.330 AA186,807,652.80 188,382,234.54 187,859,852.75 50,707.21Page 5 of 3424 Source Account Account IdentifierSecurity Type Category IssuerFinal Maturity Trade DateCurrent Face Value Original CostNext Call Date Base Market ValueBase Net Total Unrealized Gain/Loss Coupon YieldSummarized Credit Rating205091001 LC-2013 A Capitalized Interest 31392HWL3 Agency CMO Federal National Mortgage Association02/25/2018 07/12/2013 28,969.3230,580.74---29,766.27141.27 5.000 1.328AAA205091001 LC-2013 A Capitalized Interest 31392F6C6 Agency CMO Federal National Mortgage Association12/25/2017 07/09/2013 185,298.69 196,561.37---189,864.45206.02 5.000 1.206AAA205091001 LC-2013 A Capitalized Interest 31393EXC8 Agency CMO Federal National Mortgage Association09/25/2018 07/24/2013 258,783.46 273,582.64---267,595.042,021.09 4.500 1.113AAA205091001 LC-2013 A Capitalized Interest 31392BVM5 Agency CMO Federal National Mortgage Association02/25/2017 07/11/2013 29,535.8831,178.81---29,889.13(30.91) 5.500 0.931AAA205091001 LC-2013 A Capitalized Interest 3136ACGF2 Agency CMO Federal National Mortgage Association02/25/2016 07/15/2013 209,161.48 209,684.38---209,002.52(57.20) 1.083 1.298AAA205091001 LC-2013 A Capitalized Interest 31392FPP6 Agency CMO Federal National Mortgage Association11/25/2017 07/15/2013 116,480.82 123,360.47---119,171.5388.17 5.000 1.153AAA205091001 LC-2013 A Capitalized Interest 3136A8G38 Agency CMO Federal National Mortgage Association08/25/2017 07/08/2013 2,050,129.73 2,019,858.28--- 2,049,637.7013,918.12 1.246 1.476AAA205091001 LC-2013 A Capitalized Interest 31393V2T7 Agency CMO Federal Home Loan Mortgage Corp06/15/2018 07/08/2013 483,456.41 511,330.69---497,911.762,136.49 4.500 1.096AAA205091001 LC-2013 A Capitalized Interest 31402RBG3 Agency MBS Federal National Mortgage Association09/01/2019--- 186,877.00 200,433.88---193,116.82(1,353.47) 6.000 1.859AAA205091001 LC-2013 A Capitalized Interest 31410GSQ7 Agency MBS Federal National Mortgage Association12/01/2017 07/05/2013 92,490.6199,311.79---94,749.23(944.92) 6.000 2.076AAA205091001 LC-2013 A Capitalized Interest 31294LPZ0 Agency MBS Federal Home Loan Mortgage Corp12/01/2016 07/05/2013 75,301.9879,608.31---76,236.48(312.13) 6.000 1.890AAA205091001 LC-2013 A Capitalized Interest 36200AFG9 Agency MBS Government National Mortgage Association11/15/2017 07/09/2013 30,744.8932,762.52---31,412.36(375.98) 5.500 2.367AAA205091001 LC-2013 A Capitalized Interest 3128MBTH0 Agency MBS Federal Home Loan Mortgage Corp03/01/2019 07/26/2013 86,466.5691,654.55---89,426.31(109.88) 5.000 1.571AAA205091001 LC-2013 A Capitalized Interest 36290WH47 Agency MBS Government National Mortgage Association09/15/2018 07/18/2013 738,975.10 785,161.05---759,223.02(7,555.38) 4.500 1.750AAA205091001 LC-2013 A Capitalized Interest 3128H4NR6 Agency MBS Federal Home Loan Mortgage Corp05/01/2018 07/16/2013 64,332.0368,151.74---66,534.12134.04 5.000 1.101AAA205091001 LC-2013 A Capitalized Interest 31402QT68 Agency MBS Federal National Mortgage Association10/01/2019 07/11/2013 195,844.40 211,573.15---203,909.27(1,830.81) 6.000 1.921AAA205091001 LC-2013 A Capitalized Interest 3128PGLY7 Agency MBS Federal Home Loan Mortgage Corp05/01/2017 07/17/2013 122,178.40 128,745.49---126,360.571,637.05 5.000 -0.799AAA205091001 LC-2013 A Capitalized Interest 3128GNR59 Agency MBS Federal Home Loan Mortgage Corp10/01/2016 07/05/2013 63,728.1467,512.01---64,483.32(342.85) 6.000 2.045AAA205091001 LC-2013 A Capitalized Interest 31401MWC1 Agency MBS Federal National Mortgage Association06/01/2018 07/12/2013 572,000.38 609,895.41---591,105.19466.35 4.500 1.065AAA205091001 LC-2013 A Capitalized Interest 3128PHVS7 Agency MBS Federal Home Loan Mortgage Corp11/01/2019 07/16/2013 57,567.0660,661.29---59,537.58283.81 5.000 0.639AAA205091001 LC-2013 A Capitalized Interest 3132FEAK7 Agency MBS Federal Home Loan Mortgage Corp12/01/2017 07/03/2013 110,784.67 117,397.13---114,576.83326.43 5.000 0.456AAA205091001 LC-2013 A Capitalized Interest 037833AJ9 CorporateApple Inc.05/03/2018 06/17/2015 3,000,000.00 2,960,430.00--- 2,975,640.008,052.27 1.000 1.354AA205091001 LC-2013 A Capitalized Interest 084664BE0 CorporateBerkshire Hathaway Finance Corporation05/15/2018 06/17/2015 800,000.00 890,632.00---868,328.00(6,108.86) 5.400 1.710AA205091001 LC-2013 A Capitalized Interest 89236TAY1 CorporateToyota Motor Credit Corporation10/24/2018 06/17/2015 2,000,000.002,023,480.00--- 2,011,320.00(8,547.29) 2.000 1.792AA205091001 LC-2013 A Capitalized Interest 89114QAE8 CorporateThe Toronto-Dominion Bank10/19/2016 07/08/2013 750,000.00 776,452.50---757,867.501,317.95 2.375 1.054AA205091001 LC-2013 A Capitalized Interest 459200GX3 CorporateInternational Business Machines Corporation07/22/2016 07/10/2013465,000.00 477,936.30---467,780.70364.76 1.950 0.874AA205091001 LC-2013 A Capitalized Interest 78008K5V1 CorporateRoyal Bank of Canada04/19/2016 07/08/2013 2,000,000.00 2,099,900.00--- 2,012,320.001,458.82 2.875 0.812AA205091001 LC-2013 A Capitalized Interest 44328MAL8 CorporateHSBC Bank PLC05/24/2016--- 3,625,000.00 3,799,301.25--- 3,655,812.506,349.43 3.100 0.949AA205091001 LC-2013 A Capitalized Interest 30231GAL6 CorporateExxon Mobil Corporation03/06/2018 06/10/2015 580,000.00 579,344.60---579,077.80(398.92) 1.305 1.379AAA205091001 LC-2013 A Capitalized Interest 89153VAC3 CorporateTotal Capital International06/28/2017 07/08/2013 160,000.00 157,765.60---160,409.601,268.67 1.550 1.376AA205091001 LC-2013 A Capitalized Interest 90327QCW7 CorporateUSAA Capital Corporation12/13/2016 07/11/2013 4,000,000.00 4,145,440.00--- 4,047,320.006,245.27 2.250 0.999AA205091001 LC-2013 A Capitalized Interest 822582AC6 CorporateShell International Finance B.V.03/22/2017 07/08/2013 400,000.00 449,936.00---418,964.002,108.42 5.200 1.285AA205091001 LC-2013 A Capitalized Interest 9AMMF05B2 MM FundU.S. Bank Money Market Account Fund12/31/2015 12/28/20150.0083,344.15---83,344.150.00 0.000 0.000NA205091001 LC-2013 A Capitalized Interest 184126YS3 MuniClayton County Water Authority05/01/2017 07/11/2013 770,000.00 755,939.80---772,579.507,628.69 1.300 1.046AA205091001 LC-2013 A Capitalized Interest64966H4E7MuniNew York, City of10/01/201707/12/20131,170,000.001,238,222.70--- 1,207,826.108,870.303.1401.265AASTAMP Portfolio by Account for quarter ended December 31, 2015205091001 LC-2013 A Capitalized Interest64966H4E7MuniNew York, City of10/01/201707/12/20131,170,000.001,238,222.70---1,207,826.108,870.303.1401.265AA205091001 LC-2013 A Capitalized Interest 235219JS2 MuniDallas, City of02/15/2017 07/10/2013 2,135,000.00 2,135,000.00--- 2,149,475.3014,475.30 1.589 0.980AA205091001 LC-2013 A Capitalized Interest 912828M23 US GovTreasury, United States Department of10/31/2017 12/28/2015 800,000.00 798,262.41---799,272.001,002.13 0.428 0.484AAA205091001 LC-2013 A Capitalized Interest 912828SY7 US GovTreasury, United States Department of05/31/2017 07/05/2013 3,900,000.00 3,828,550.78--- 3,882,801.009,055.09 0.625 0.939AAA205091001 LC-2013 A Capitalized Interest 912828UB4 US GovTreasury, United States Department of11/30/2019 06/17/2015 2,500,000.00 2,433,398.44--- 2,443,450.002,241.37 1.000 1.598AAA205091001 LC-2013 A Capitalized Interest 912828J84 US GovTreasury, United States Department of03/31/2020 06/03/2015 4,300,000.00 4,243,023.44--- 4,247,067.00(2,528.28) 1.375 1.676AAA205091001 LC-2013 A Capitalized Interest 912828UA6 US GovTreasury, United States Department of11/30/2017 07/05/2013 1,750,000.00 1,700,507.81--- 1,735,510.007,381.70 0.625 1.063AAA205091001 LC-2013 A Capitalized Interest 912828RU6 US GovTreasury, United States Department of11/30/2016 07/05/2013 3,500,000.00 3,496,855.47--- 3,502,065.002,917.72 0.875 0.810AAA205091001 LC-2013 A Capitalized Interest 912828UZ1 US GovTreasury, United States Department of04/30/2018 06/03/2015 3,400,000.00 3,360,421.88--- 3,356,310.00(11,862.60) 0.625 1.185AAA47,998,049.64256350001 LC-Project Fund-2 Senior Lien65474VAG6 Asset Backed Nissan Master Owner Trust Receivables02/15/2018 11/10/2015 1,600,000.00 1,599,750.00--- 1,600,000.00236.01 0.631 0.850AAA256350001 LC-Project Fund-2 Senior Lien55314MAD8 Asset Backed MMAF Equipment Finance LLC 2011-A07/15/2017 11/04/2015 128,874.27 129,176.32---129,177.1227.21 2.100 1.259AAA256350001 LC-Project Fund-2 Senior Lien161571GM0 Asset Backed Chase Issuance Trust04/16/2018 11/04/2015 130,000.00 129,903.52---129,942.806.93 0.451 0.890AAA256350001 LC-Project Fund-2 Senior Lien91324PCJ9 CorporateUnitedHealth Group Incorporated01/17/2017 08/03/2015 290,000.00 290,222.43---290,194.3033.98 0.765 0.714A256350001 LC-Project Fund-2 Senior Lien25737LAK6 CPDominion Gas Holdings, LLC01/19/2016 12/02/2015 2,000,000.00 1,998,459.44--- 1,999,660.00250.00 0.000 0.340AAA256350001 LC-Project Fund-2 Senior Lien23337SAB0 CPDTE Gas Company01/11/2016 12/14/2015 2,000,000.00 1,999,066.66--- 1,999,840.00173.34 0.000 0.288AAA256350001 LC-Project Fund-2 Senior Lien65475LAU6 CPNissan Motor Acceptance Corporation01/28/2016 12/21/2015 2,000,000.00 1,998,417.22--- 1,999,460.00615.00 0.000 0.360AA256350001 LC-Project Fund-2 Senior Lien02581RAM5 CPAmerican Express Credit Corporation01/21/2016 12/07/2015 2,000,000.00 1,998,750.00--- 1,999,620.00175.56 0.000 0.342AAA256350001 LC-Project Fund-2 Senior Lien05333TA52 CPAutoZone, Inc.01/05/2016 11/18/2015 1,000,000.00 999,333.33---999,990.0045.56 0.000 0.090AA256350001 LC-Project Fund-2 Senior Lien92780JAL5 CPVirginia Electric and Power Company01/20/2016 11/09/2015 2,000,000.00 1,998,146.12--- 1,999,640.00136.11 0.000 0.341AAA256350001 LC-Project Fund-2 Senior Lien88513AAE2 CPThomson Reuters Corporation01/14/2016 11/09/2015 2,000,000.00 1,997,833.34--- 1,999,780.00213.33 0.000 0.305AA256350001 LC-Project Fund-2 Senior Lien42824EA88 CPHewlett Packard Enterprise Company01/08/2016 11/18/2015 2,000,000.00 1,998,312.22--- 1,999,900.00141.11 0.000 0.257AA256350001 LC-Project Fund-2 Senior Lien27886LB87 CPEcolab Inc.02/08/2016 11/10/2015 2,000,000.00 1,997,408.88--- 1,999,040.00158.89 0.000 0.455AA256350001 LC-Project Fund-2 Senior Lien58507AAB9 CPMedtronic Global Holdings S.C.A.01/11/2016 12/08/2015 2,000,000.00 1,999,028.34--- 1,999,840.00134.44 0.000 0.288AA256350001 LC-Project Fund-2 Senior Lien85572AAD8 CPStarwood Hotels & Resorts Worldwide, Inc.01/13/2016 11/10/2015 2,000,000.00 1,998,622.22--- 1,999,800.0066.67 0.000 0.300AA256350001 LC-Project Fund-2 Senior Lien91302CAC1 CPUnited Technologies Corporation01/12/2016 12/09/2015 1,300,000.00 1,299,140.56--- 1,299,883.00161.05 0.000 0.295AA256350001 LC-Project Fund-2 Senior Lien00287BA74 CPAbbVie Inc.01/07/2016 12/16/2015 1,800,000.00 1,799,339.99--- 1,799,946.00126.00 0.000 0.180AA256350001 LC-Project Fund-2 Senior Lien05634BA65 CPBacardi U.S.A., Inc.01/06/2016 11/18/2015 2,000,000.00 1,998,611.66--- 1,999,960.00101.67 0.000 0.144AA256350001 LC-Project Fund-2 Senior Lien25156KA87 CPDeutsche Telekom AG01/08/2016 11/10/2015 2,000,000.00 1,998,353.34--- 1,999,900.00102.22 0.000 0.257AA256350001 LC-Project Fund-2 Senior Lien91058TAK2 CPUnited Healthcare Corporation01/19/2016 12/17/2015 2,000,000.00 1,998,791.12--- 1,999,660.00340.00 0.000 0.340AA256350001 LC-Project Fund-2 Senior Lien28103AAF1 CPEdison International01/15/2016 12/09/2015 2,000,000.00 1,998,787.22--- 1,999,740.00198.89 0.000 0.335AA256350001 LC-Project Fund-2 Senior Lien61979JA72 CPMotiva Enterprises LLC01/07/2016 11/16/2015 2,000,000.00 1,998,555.56--- 1,999,940.00106.67 0.000 0.180AAA256350001 LC-Project Fund-2 Senior Lien41282JAB7 CPHarley-Davidson Financial Services, Inc.01/11/2016 12/03/2015 2,000,000.00 1,998,988.88--- 1,999,840.00128.89 0.000 0.288AA256350001 LC-Project Fund-2 Senior Lien63946DAC0 CPNBCUniversal Enterprise, Inc.01/12/2016 12/17/2015 2,000,000.00 1,998,988.88--- 1,999,820.00247.78 0.000 0.295AA256350001 LC-Project Fund-2 Senior Lien9AMMF05B2 MM FundU.S. Bank Money Market Account Fund12/31/2015---0.00 108,271.57---108,271.570.00 0.000 0.000NA40,352,844.79256350004 LC-PF-2 Sales Tax Revenue Bond 65474VAG6 Asset Backed Nissan Master Owner Trust Receivables02/15/2018 11/10/2015 1,400,000.00 1,399,781.25--- 1,400,000.00206.51 0.631 0.850AAA256350004 LC-PF-2 Sales Tax Revenue Bond 91324PCJ9 CorporateUnitedHealth Group Incorporated01/17/2017 08/03/2015 395,000.00 395,302.97---395,264.6546.28 0.765 0.714A256350004 LC-PF-2 Sales Tax Revenue Bond 02581RAM5 CPAmerican Express Credit Corporation01/21/2016 12/07/2015 950,000.00 949,406.25---949,819.5083.39 0.000 0.342AAA256350004 LC-PF-2 Sales Tax Revenue Bond 05333TA52 CPAutoZone, Inc.01/05/2016 11/18/2015 1,600,000.00 1,598,933.33--- 1,599,984.0072.89 0.000 0.090AA256350004 LC-PF-2 Sales Tax Revenue Bond 65475LAU6 CPNissan Motor Acceptance Corporation01/28/2016 12/21/2015 700,000.00 699,446.03---699,811.00215.25 0.000 0.360AA256350004 LC-PF-2 Sales Tax Revenue Bond 88513AAE2 CPThomson Reuters Corporation01/14/2016 11/10/2015 1,800,000.00 1,798,204.50--- 1,799,802.00172.50 0.000 0.305AA256350004 LC-PF-2 Sales Tax Revenue Bond 42824EA88 CPHewlett Packard Enterprise Company01/08/2016 11/18/2015 1,800,000.00 1,798,481.00--- 1,799,910.00127.00 0.000 0.257AA256350004 LC-PF-2 Sales Tax Revenue Bond 27886LB87 CPEcolab Inc.02/08/2016 11/10/2015 1,500,000.00 1,498,056.66--- 1,499,280.00119.17 0.000 0.455AAPage 6 of 34ATTACHMENT 325 Source Account Account IdentifierSecurity Type Category IssuerFinal Maturity Trade DateCurrent Face Value Original CostNext Call Date Base Market ValueBase Net Total Unrealized Gain/Loss Coupon YieldSummarized Credit RatingSTAMP Portfolio by Account for quarter ended December 31, 2015256350004 LC-PF-2 Sales Tax Revenue Bond 58507AAB9 CPMedtronic Global Holdings S.C.A.01/11/2016 12/08/2015 1,500,000.00 1,499,271.26--- 1,499,880.00100.83 0.000 0.288AA256350004 LC-PF-2 Sales Tax Revenue Bond 85572AAD8 CPStarwood Hotels & Resorts Worldwide, Inc.01/13/2016 11/10/2015 1,800,000.00 1,798,760.00--- 1,799,820.0060.00 0.000 0.300AA256350004 LC-PF-2 Sales Tax Revenue Bond 07588LA81 CPBecton, Dickinson and Company01/08/2016 11/10/2015 1,250,000.00 1,249,010.41--- 1,249,937.5059.03 0.000 0.257AA256350004 LC-PF-2 Sales Tax Revenue Bond 00287BA74 CPAbbVie Inc.01/07/2016 12/16/2015 650,000.00 649,761.66---649,980.5045.50 0.000 0.180AA256350004 LC-PF-2 Sales Tax Revenue Bond 05634BA65 CPBacardi U.S.A., Inc.01/06/2016 11/18/2015 1,800,000.00 1,798,750.49--- 1,799,964.0091.50 0.000 0.144AA256350004 LC-PF-2 Sales Tax Revenue Bond 91058TAK2 CPUnited Healthcare Corporation01/19/2016 12/17/2015 1,600,000.00 1,599,032.90--- 1,599,728.00271.99 0.000 0.340AA256350004 LC-PF-2 Sales Tax Revenue Bond 28103AAF1 CPEdison International01/15/2016 12/14/2015 1,600,000.00 1,599,035.55--- 1,599,792.00227.56 0.000 0.335AA256350004 LC-PF-2 Sales Tax Revenue Bond 25737LAM2 CPDominion Gas Holdings, LLC01/21/2016 11/30/2015 1,800,000.00 1,798,572.01--- 1,799,658.00218.00 0.000 0.342AAA256350004 LC-PF-2 Sales Tax Revenue Bond 61979JA72 CPMotiva Enterprises LLC01/07/2016 11/16/2015 1,800,000.00 1,798,725.01--- 1,799,946.0096.00 0.000 0.180AAA256350004 LC-PF-2 Sales Tax Revenue Bond 41282JAB7 CPHarley-Davidson Financial Services, Inc.01/11/2016 12/03/2015 1,600,000.00 1,599,191.10--- 1,599,872.00103.11 0.000 0.288AA256350004 LC-PF-2 Sales Tax Revenue Bond 9AMMF05B2 MM FundU.S. Bank Money Market Account Fund12/31/2015 12/18/20150.00 116,480.61---116,480.610.00 0.000 0.000NA256350004 LC-PF-2 Sales Tax Revenue Bond 64468EAY6 VRDNLabor, New Hampshire Department of11/01/2020 11/04/2013 4,190,000.00 4,190,000.00 02/02/2016 4,190,000.000.00 0.330 0.330AA256350004 LC-PF-2 Sales Tax Revenue Bond 64468EAZ3 VRDNLabor, New Hampshire Department of11/01/2020 07/03/2013 3,200,000.00 3,200,000.00 02/02/2016 3,200,000.000.00 0.330 0.330AA33,048,929.76256350005 LC-Project Fund-Toll 23133EECD0 AgencyFederal Farm Credit Banks Consolidated Systemwide Bonds06/20/2017 06/15/2015 500,000.00 500,308.15---498,815.00(1,409.72) 0.432 0.600AAA256350005 LC-Project Fund-Toll 23137A2AZ4 Agency CMO Federal Home Loan Mortgage Corp05/25/2020 07/01/2015 400,384.07 412,458.15---408,279.65(1,788.74) 2.757 1.719AAA256350005 LC-Project Fund-Toll 238378BR35 Agency CMO Government National Mortgage Association11/16/2042 07/10/2015 342,928.44335,212.55---333,199.56(1,908.49) 1.333 2.278AAA256350005 LC-Project Fund-Toll 23136A8G38 Agency CMO Federal National Mortgage Association08/25/2017 07/02/2015 140,236.89 140,866.86---140,203.23(481.52) 1.246 1.476AAA256350005 LC-Project Fund-Toll 23137A85H7 Agency CMO Federal Home Loan Mortgage Corp12/15/2039 07/13/2015 160,526.50 167,348.88---166,669.85(621.29) 3.500 2.033AAA256350005 LC-Project Fund-Toll 23137A1LC5 Agency CMO Federal Home Loan Mortgage Corp08/15/2020 08/31/2015 100,510.60 102,112.49---101,632.30(348.87) 2.000 1.214AAA256350005 LC-Project Fund-Toll 23133XY2H7 Agency CMO Federal Home Loan Banks Office of Finance04/20/2017 07/13/2015 283,619.56 291,330.47---289,033.86(767.06) 2.900 1.630AAA256350005 LC-Project Fund-Toll 231394GH22 Agency CMO Federal Home Loan Mortgage Corp07/15/2018 07/20/2015 122,998.01 127,495.13---126,689.18428.42 4.500 1.161AAA256350005 LC-Project Fund-Toll 23137ANLP8 Agency CMO Federal Home Loan Mortgage Corp11/25/2016--- 167,461.22 168,831.19---167,749.25(464.47) 1.655 1.578AAA256350005 LC-Project Fund-Toll 238377LN38 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T11/16/2038 06/16/20150.010.01---0.01(0.00) 3.500 1.233AAA256350005 LC-Project Fund-Toll 23137AH6B9 Agency CMO Federal Home Loan Mortgage Corp10/25/2020 08/28/2015 165,400.40 169,018.53---167,381.90(1,297.86) 2.257 1.767AAA256350005 LC-Project Fund-Toll 236225FGM5 Agency MBS Ginnie Mae II08/20/2041 08/06/2015 114,800.83 118,818.87---118,821.1657.43 1.875 1.162AAA256350005 LC-Project Fund-Toll 238378NNA7 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-T05/16/2038 06/26/2015 585,217.12 589,217.63---586,598.23(2,513.20) 2.250 2.066AAA256350005 LC-Project Fund-Toll 23136AEYG6 Agency MBS Federal National Mortgage Association06/25/2018 07/02/2015 223,116.14 225,905.10---223,236.62(2,214.28) 1.825 1.989AAA256350005 LC-Project Fund-Toll 236225FLU1 Agency MBS Ginnie Mae II02/20/2042 08/06/2015 243,793.28 252,097.49---250,273.31(1,701.39) 1.750 1.127AAA256350005 LC-Project Fund-Toll 236225FLA5 Agency MBS Ginnie Mae II01/20/2042 08/06/2015 143,592.55 148,663.16---147,560.01(1,027.93) 1.750 1.126AAA256350005 LC-Project Fund-Toll 23138EKUP8 Agency MBS Federal National Mortgage Association03/01/2025 09/21/2015 255,805.74 269,575.29---266,994.68(2,302.98) 5.000 1.796AAA256350005 LC-Project Fund-Toll 23138L1TX7 Agency MBS Federal National Mortgage Association11/01/2017 06/18/2015 309,901.30 311,305.54---311,416.71492.26 1.660 1.825AAA256350005 LC-Project Fund-Toll 236225EUY6 Agency MBS Ginnie Mae II09/20/2039 09/17/2015 129,024.28 132,693.42---136,908.954,259.57 1.875 1.125AAA256350005 LC-Project Fund-Toll 2161571FK5 Asset Backed Chase Issuance Trust08/16/2021 12/10/2015 150,000.00 148,359.38---147,729.00(650.14) 1.580 2.021AAA256350005 LC-Project Fund-Toll 258768WAD1 Asset BackedMercedes-Benz Auto Receivables Trust 2013-111/15/201906/16/2015350,000.00351,066.41---349,695.50(1,112.89)1.1301.374AAA256350005 LC-Project Fund-Toll 258768WAD1Asset BackedMercedes-Benz Auto Receivables Trust 2013-111/15/201906/16/2015350,000.00351,066.41---349,695.50(1,112.89)1.1301.374AAA256350005 LC-Project Fund-Toll 258769AAD8 Asset Backed Mercedes-Benz Auto Lease Trust 2015-B07/16/2018 10/21/2015 255,000.00 254,990.34---253,816.80(1,174.00) 1.340 1.588AAA256350005 LC-Project Fund-Toll 290290KAD7 Asset Backed USAA Auto Owner Trust 2014-105/15/2019 06/12/2015 445,000.00 443,991.80---443,242.25(1,089.58) 0.940 1.409AAA256350005 LC-Project Fund-Toll 258772PAC2 Asset Backed Mercedes-Benz Auto Receivables Trust 2015-106/15/2018 08/04/2015 390,000.00 390,045.70---389,703.60(1,470.95) 0.601 0.950AAA256350005 LC-Project Fund-Toll 2161571GQ1 Asset Backed Chase Issuance Trust11/15/2019 10/28/2015 120,000.00 120,510.94---119,656.80(813.16) 1.380 1.538AAA256350005 LC-Project Fund-Toll 260689LAC9 Asset Backed MMAF EQUIP FIN LLC 2013-A12/11/2017 08/05/2015 113,879.65 113,933.04---113,771.47(198.42) 1.030 1.124AAA256350005 LC-Project Fund-Toll 255315GAC2 Asset Backed MMAF EQUIP FIN LLC 2015-A10/16/2019 07/30/2015 247,000.00 246,286.02---245,142.56(1,298.35) 1.390 1.728AAA256350005 LC-Project Fund-Toll 202582JGS3 Asset Backed American Express Credit Account Master Trust01/15/2020 07/13/2015 500,000.00 500,859.38---498,985.00(1,669.73) 1.260 1.402AAA256350005 LC-Project Fund-Toll 262888YAA0 CMONCUA Guaranteed Notes Trust 2011-R101/08/2020 07/14/2015 222,928.10 224,007.91---223,817.58(79.31) 0.642 0.910AAA256350005 LC-Project Fund-Toll 200138CAA6 CorporateAIG GLOBAL FDG SR SECD MEDIUMTERM NTS BOOK ENTRY 144A12/15/2017 06/22/2015 300,000.00 300,696.00---298,491.00(2,061.53) 1.650 1.913A256350005 LC-Project Fund-Toll 2553794AA6 CorporateMUFG Americas Holdings Corporation02/09/2018 06/11/2015 300,000.00 298,716.00 01/09/2018297,378.00(1,597.57) 1.625 2.051A256350005 LC-Project Fund-Toll 289153UAE1 CorporateTotal Capital Canada Ltd.01/15/2018 06/10/2015 300,000.00 300,000.00---298,146.00(1,854.00) 1.450 1.760AA256350005 LC-Project Fund-Toll 2718172AA7 CorporatePhilip Morris International Inc.05/16/2018 06/23/2015 250,000.00 277,717.50---272,757.50(115.59) 5.650 1.721A256350005 LC-Project Fund-Toll 2822582AZ5 CorporateShell International Finance B.V.11/15/2016 06/12/2015 300,000.00 300,429.00---299,235.00(1,030.52) 0.900 1.194AA256350005 LC-Project Fund-Toll 2166754AK7 CorporateCHEVRON PHILLIPS CHEM CO LLC / CHEVRON PHILLIPS CHEM CO05/01/2018 06/11/2015 300,000.00 299,631.00---296,259.00(3,441.16) 1.700 2.251A256350005 LC-Project Fund-Toll 226442CAD6 CorporateDuke Energy Carolinas, LLC04/15/2018 06/11/2015 116,000.00 127,422.52---124,328.80(938.06) 5.100 1.879AA256350005 LC-Project Fund-Toll 2828807CM7 CorporateSimon Property Group, L.P.02/01/2018 11/03/2015 140,000.00 139,552.00 11/01/2017138,853.40(729.17) 1.500 1.903A256350005 LC-Project Fund-Toll 2084664CD1 CorporateBerkshire Hathaway Finance Corporation01/12/2018 08/11/2015 300,000.00 300,162.00---299,316.00(820.29) 0.621 0.743AA256350005 LC-Project Fund-Toll 2446438RR6 CorporateThe Huntington National Bank11/06/2018 11/03/2015 250,000.00 249,705.00 10/06/2018249,310.00(410.07) 2.200 2.300A256350005 LC-Project Fund-Toll 274153WCE7 CorporatePricoa Global Funding I08/18/2017 06/10/2015 300,000.00 299,511.00---297,981.00(1,652.33) 1.350 1.770AA256350005 LC-Project Fund-Toll 259562VAT4 CorporateBerkshire Hathaway Energy Company04/01/2018 10/15/2015 150,000.00 165,180.00---162,049.50(1,914.89) 5.750 2.076A256350005 LC-Project Fund-Toll 2928668AF9 CorporateVolkswagen Group of America Finance, LLC11/20/2017 06/11/2015 300,000.00 300,525.00---291,282.00(9,128.03) 1.600 3.199A256350005 LC-Project Fund-Toll 206050TLY6 CorporateBank of America, National Association03/26/2018 06/10/2015 300,000.00 298,968.00---297,744.00(1,425.42) 1.650 1.995A256350005 LC-Project Fund-Toll 2233851BF0 CorporateDaimler Finance North America LLC08/01/2017 06/12/2015 300,000.00 299,250.00---297,288.00(2,151.04) 1.375 1.957A256350005 LC-Project Fund-Toll 241283LAB1 CorporateHarley-Davidson Financial Services, Inc.03/15/2017 06/22/2015 250,000.00 256,430.00---253,330.00(1,176.74) 2.700 1.579A256350005 LC-Project Fund-Toll 269353RET1 CorporatePNC BANK NA11/05/2018 10/29/2015 250,000.00 249,962.50 10/05/2018249,360.00(604.51) 1.800 1.893A256350005 LC-Project Fund-Toll 217401QAC5 CorporateCitizens Bank, National Association12/03/2018 11/30/2015 250,000.00 249,675.00---249,705.0021.66 2.300 2.342A256350005 LC-Project Fund-Toll 291159HHD5 CorporateU.S. Bancorp05/15/2017 06/11/2015 300,000.00 303,276.00 04/15/2017300,906.00(1,405.21) 1.650 1.413AA256350005 LC-Project Fund-Toll 246623EKD0 CorporateJPMorgan Chase & Co.03/01/2018--- 480,000.00 479,194.80 01/30/2018477,672.00(1,669.63) 1.700 1.929A256350005 LC-Project Fund-Toll 289837LAA3 CorporateThe Trustees of Princeton University03/01/2019--- 620,000.00 690,247.32---679,141.80(1,577.07) 4.950 1.835AAA256350005 LC-Project Fund-Toll 240428HPQ9 CorporateHSBC USA Inc.03/05/2018 08/17/2015 145,000.00 144,315.60---144,190.90(221.73) 1.700 1.963AA256350005 LC-Project Fund-Toll 238141GRC0 CorporateThe Goldman Sachs Group, Inc.01/22/2018 06/10/2015 80,000.0081,027.20---80,691.20(125.21) 2.375 1.944A256350005 LC-Project Fund-Toll 249327M2H6 CorporateKeyBank National Association06/01/2018 11/06/2015 250,000.00 248,740.00---248,250.00(557.64) 1.700 1.998A256350005 LC-Project Fund-Toll 2002799AM6 CorporateAbbey National Treasury Services PLC03/13/2017 06/11/2015 300,000.00 300,810.00---298,761.00(1,798.81) 1.375 1.724A256350005 LC-Project Fund-Toll 290261XHH8 CorporateUBS AG03/26/2018 06/22/2015 250,000.00 249,357.50---249,582.50104.05 1.800 1.876A256350005 LC-Project Fund-Toll 2037833AM2 CorporateApple Inc.05/05/2017 06/10/2015 300,000.00 300,957.00---300,177.00(505.55)1.050 1.006AA256350005 LC-Project Fund-Toll 2532457BK3 CorporateEli Lilly and Company03/01/2018 06/10/2015 300,000.00 298,908.00---299,262.00135.93 1.250 1.365AA256350005 LC-Project Fund-Toll 238147MAA3 CorporateThe Goldman Sachs Group, Inc.07/19/2018 12/02/2015 100,000.00 102,578.00---101,955.00(558.41) 2.900 2.108A256350005 LC-Project Fund-Toll 246849LSL6 CorporateJackson National Life Global Funding10/15/2018 10/07/2015 150,000.00 149,922.00---148,942.50(984.91) 1.875 2.136AA256350005 LC-Project Fund-Toll 2209111ET6 CorporateConsolidated Edison Company of New York, Inc.04/01/2018 06/22/2015 220,000.00 245,828.00---237,883.80(3,189.68) 5.850 2.129A256350005 LC-Project Fund-Toll 230231GAL6 CorporateExxon Mobil Corporation03/06/2018 06/11/2015 300,000.00 299,583.00---299,523.00(143.43) 1.305 1.379AAA256350005 LC-Project Fund-Toll 2063679ZT4 CorporateBank of Montreal01/30/2017 06/12/2015 300,000.00 304,620.00---302,367.00(719.26) 1.950 1.214AAA256350005 LC-Project Fund-Toll 20258M0DZ9 CorporateAmerican Express Credit Corporation11/05/2018 10/29/2015 150,000.00 149,986.50 10/05/2018149,604.00(383.19) 1.875 1.971A256350005 LC-Project Fund-Toll 259217GAY5 CorporateMetropolitan Life Global Funding I01/10/2018 06/12/2015 300,000.00 299,646.00---298,425.00(1,295.10) 1.500 1.765AAPage 7 of 3426 Source Account Account IdentifierSecurity Type Category IssuerFinal Maturity Trade DateCurrent Face Value Original CostNext Call Date Base Market ValueBase Net Total Unrealized Gain/Loss Coupon YieldSummarized Credit RatingSTAMP Portfolio by Account for quarter ended December 31, 2015256350005 LC-Project Fund-Toll 280851QDA9 CorporateThe Charles Schwab Corporation09/01/2017 10/27/2015 65,000.0071,075.55---69,982.25(529.38) 6.375 1.690A256350005 LC-Project Fund-Toll 2842434CN0 CorporateSouthern California Gas Company06/15/2018 06/15/2015 250,000.00 249,992.50---249,102.50(891.22) 1.550 1.700AA256350005 LC-Project Fund-Toll 291324PCF7 CorporateUnitedHealth Group Incorporated12/15/2017 06/11/2015 300,000.00 300,543.00---299,118.00(1,308.30) 1.400 1.553A256350005 LC-Project Fund-Toll 259217GAZ2 CorporateMetropolitan Life Global Funding I06/22/2018 11/10/2015 150,000.00 150,199.50---149,995.50(195.41) 1.875 1.876AA256350005 LC-Project Fund-Toll 243357LA51 CPHitachi Capital America Corp.01/05/2016 12/22/2015 475,000.00 474,794.96---474,995.2553.83 0.000 0.090AA256350005 LC-Project Fund-Toll 29AMMF05B2 MM FundU.S. Bank Money Market Account Fund12/31/2015---0.0088,697.68---88,697.680.00 0.000 0.000NA256350005 LC-Project Fund-Toll 265819WAC7 MuniNorth Carolina Eastern Municipal Power Agency07/01/2018--- 160,000.00 160,404.60---160,556.80195.71 2.003 1.860A256350005 LC-Project Fund-Toll 2544587B98 MuniMunicipal Improvement Corporation of Los Angeles11/01/2018 11/04/2015 160,000.00 160,000.00---161,545.601,545.60 2.344 1.991A256350005 LC-Project Fund-Toll 2180848HP1 MuniClark, County of07/01/2017 07/06/2015 120,000.00 126,764.40---124,546.80(600.85) 4.300 1.730AA256350005 LC-Project Fund-Toll 2937308AZ7 MuniWBRP 3.2 WASHINGTON BIOMED RES03/01/2018 09/25/2015 95,000.0095,000.00---94,468.00(532.00) 1.485 1.749AA256350005 LC-Project Fund-Toll 249130TRY4 MuniKentucky Housing Corporation01/01/2017 06/17/2015 275,000.00 274,634.25---273,957.75(801.87) 0.937 1.320AAA256350005 LC-Project Fund-Toll 213063A5D2 MuniCalifornia, State of04/01/2016 06/29/2015 315,000.00 327,521.25---319,419.45186.49 5.950 0.329AA256350005 LC-Project Fund-Toll 291476PPG7 MuniUniversity of Oklahoma07/01/2020 11/17/2015 80,000.0079,544.00---79,522.40(31.65) 2.349 2.490AA256350005 LC-Project Fund-Toll 2912828TG5 US GovTreasury, United States Department of07/31/2017--- 1,250,000.00 1,243,451.18--- 1,240,525.00(3,345.47) 0.500 0.983AAA256350005 LC-Project Fund-Toll 2912828UZ1 US GovTreasury, United States Department of04/30/2018--- 1,950,000.00 1,925,332.03--- 1,924,942.50(4,991.45) 0.625 1.185AAA256350005 LC-Project Fund-Toll 2912828KQ2 US GovTreasury, United States Department of05/15/2019--- 1,510,000.00 1,601,937.89--- 1,592,989.60(2,633.81) 3.125 1.450AAA256350005 LC-Project Fund-Toll 2912828KD1 US GovTreasury, United States Department of02/15/2019--- 1,810,000.00 1,900,709.76--- 1,886,001.90(10,892.95) 2.750 1.372AAA256350005 LC-Project Fund-Toll 2912828UA6 US GovTreasury, United States Department of11/30/2017--- 1,465,000.00 1,461,189.26--- 1,452,869.80(8,995.04) 0.625 1.063AAA256350005 LC-Project Fund-Toll 2912828M23 US GovTreasury, United States Department of10/31/2017 12/29/2015 425,000.00 424,196.39---424,613.25414.57 0.428 0.484AAA256350005 LC-Project Fund-Toll 2912828UR9 US GovTreasury, United States Department of02/28/2018 10/02/2015 1,545,000.00 1,546,711.92--- 1,531,836.60(14,705.14) 0.750 1.149AAA256350005 LC-Project Fund-Toll 2912828VV9 US GovTreasury, United States Department of08/31/2020--- 1,110,000.00 1,136,562.31--- 1,127,904.30(7,877.98) 2.125 1.763AAA256350005 LC-Project Fund-Toll 2912828VK3 US GovTreasury, United States Department of06/30/2018--- 1,525,000.00 1,543,510.95--- 1,531,008.50(10,184.24) 1.375 1.215AAA256350005 LC-Project Fund-Toll 2912828RX0 US GovTreasury, United States Department of12/31/2016 11/23/2015 1,000,000.00 1,002,187.50--- 1,000,630.00(1,353.95) 0.875 0.812AAA32,776,402.36256350022 LC-Sr Lien Ob Fund-1 Interest31393EXC8 Agency CMO Federal National Mortgage Association09/25/2018 07/24/2013 28,753.7230,398.07---29,732.78224.56 4.500 1.113AAA256350022 LC-Sr Lien Ob Fund-1 Interest3136A4M89 Agency CMO Federal National Mortgage Association01/25/2019 07/05/2013 171,001.14 172,089.94---172,439.26927.31 1.934 1.451AAA256350022 LC-Sr Lien Ob Fund-1 Interest3137ASNH3 Agency CMO Federal Home Loan Mortgage Corp09/25/2021 08/15/2013 377,444.17 367,536.26---371,397.51955.99 1.459 2.014AAA256350022 LC-Sr Lien Ob Fund-1 Interest3136A8G38 Agency CMO Federal National Mortgage Association08/25/2017 07/08/2013 621,049.07 611,878.89---620,900.024,216.24 1.246 1.476AAA256350022 LC-Sr Lien Ob Fund-1 Interest31393V2T7 Agency CMO Federal Home Loan Mortgage Corp06/15/2018 07/08/2013 146,838.05 155,304.18---151,228.50648.91 4.500 1.096AAA256350022 LC-Sr Lien Ob Fund-1 Interest31402RBG3 Agency MBS Federal National Mortgage Association09/01/2019--- 54,644.7058,614.52---56,469.29(397.90) 6.000 1.859AAA256350022 LC-Sr Lien Ob Fund-1 Interest31385JLF3 Agency MBS Federal National Mortgage Association08/01/2017 09/18/2013 104,867.00 111,945.52---107,348.15(680.30) 6.000 1.757AAA256350022 LC-Sr Lien Ob Fund-1 Interest38144LAB6 CorporateThe Goldman Sachs Group, Inc.09/01/2017 07/03/2013 300,000.00 322,515.00---321,282.0011,761.08 6.250 1.903A256350022 LC-Sr Lien Ob Fund-1 Interest38143USC6 CorporateThe Goldman Sachs Group, Inc.02/07/2016 07/03/2013 600,000.00 627,936.00---601,524.00414.11 3.625 1.067A256350022 LC-Sr Lien Ob Fund-1 Interest05565QCC0 CorporateBP Capital Markets P.L.C.11/06/2017 07/03/2013 300,000.00 292,194.00---298,239.001,651.64 1.375 1.699A256350022 LC-Sr Lien Ob Fund-1 Interest166764AE0CorporateChevron Corporation06/24/201806/17/2015300,000.00301,848.0005/24/2018298,467.00(3,053.69)1.7181.930AA256350022 LC-Sr Lien Ob Fund-1 Interest166764AE0CorporateChevron Corporation06/24/201806/17/2015300,000.00301,848.0005/24/2018298,467.00(3,053.69)1.7181.930AA256350022 LC-Sr Lien Ob Fund-1 Interest891145TN4 CorporateThe Toronto-Dominion Bank03/13/2017 05/21/2015 1,000,000.00 1,010,240.00--- 1,001,610.00(5,245.25) 1.500 1.364AAA256350022 LC-Sr Lien Ob Fund-1 Interest48121CYK6 CorporateJPMorgan Chase Bank, National Association10/01/2017 07/03/2013 300,000.00 341,424.00---320,748.003,080.25 6.000 1.958A256350022 LC-Sr Lien Ob Fund-1 Interest89236TAY1 CorporateToyota Motor Credit Corporation10/24/2018 06/17/2015 500,000.00 505,870.00---502,830.00(2,136.82) 2.000 1.792AA256350022 LC-Sr Lien Ob Fund-1 Interest02580ECC5 CorporateAmerican Express Bank, FSB.09/13/2017 07/08/2013 250,000.00 287,890.00---267,785.001,953.99 6.000 1.733A256350022 LC-Sr Lien Ob Fund-1 Interest233851AT1 CorporateDaimler Finance North America LLC01/11/2016 07/08/2013 500,000.00 497,995.00---500,020.0042.10 1.250 1.099A256350022 LC-Sr Lien Ob Fund-1 Interest30231GAL6 CorporateExxon Mobil Corporation03/06/2018 06/10/2015 420,000.00 419,525.40---419,332.20(288.88) 1.305 1.379AAA256350022 LC-Sr Lien Ob Fund-1 Interest94974BGF1 CorporateWells Fargo & Company01/30/2020 06/03/2015 1,000,000.00 991,540.00---991,240.00(1,293.75) 2.150 2.376AA256350022 LC-Sr Lien Ob Fund-1 Interest46625HJL5 CorporateJPMorgan Chase & Co.05/15/2018 06/03/2015 500,000.00 497,550.00---496,290.00(1,723.70) 1.625 1.946A256350022 LC-Sr Lien Ob Fund-1 Interest63307EAB3 CorporateNational Bank of Canada10/19/2016 05/21/2015 900,000.00 918,414.00---907,947.00(2,609.84) 2.200 1.088AAA256350022 LC-Sr Lien Ob Fund-1 Interest78011DAC8 CorporateRoyal Bank of Canada09/19/2017 05/21/2015 1,000,000.00 1,001,090.00---995,270.00(5,544.13) 1.200 1.480AAA256350022 LC-Sr Lien Ob Fund-1 Interest02581RAM5 CPAmerican Express Credit Corporation01/21/2016 12/07/2015 725,000.00 724,546.88---724,862.2563.64 0.000 0.342AAA256350022 LC-Sr Lien Ob Fund-1 Interest78355AAS3 CPRyder System, Inc.01/26/2016 12/28/2015 125,000.00 124,939.58---124,968.7520.84 0.000 0.360AA256350022 LC-Sr Lien Ob Fund-1 Interest9AMMF05B2 MM FundU.S. Bank Money Market Account Fund12/31/2015---0.0025,491.30---25,491.300.00 0.000 0.000NA256350022 LC-Sr Lien Ob Fund-1 Interest235219JS2 MuniDallas, City of02/15/2017 07/10/2013 650,000.00 650,000.00---654,407.004,407.00 1.589 0.980AA256350022 LC-Sr Lien Ob Fund-1 Interest912828RX0 US GovTreasury, United States Department of12/31/2016 09/13/2013 950,000.00945,212.89---950,598.502,066.75 0.875 0.812AAA256350022 LC-Sr Lien Ob Fund-1 Interest912828J84 US GovTreasury, United States Department of03/31/2020--- 950,000.00 936,470.70---938,305.50333.05 1.375 1.676AAA256350022 LC-Sr Lien Ob Fund-1 Interest912828UA6 US GovTreasury, United States Department of11/30/2017 07/05/2013 1,250,000.00 1,214,648.44--- 1,239,650.005,272.64 0.625 1.063AAA256350022 LC-Sr Lien Ob Fund-1 Interest912828K41 US GovTreasury, United States Department of04/30/2017 07/30/2015 200,000.00200,001.77---199,824.00(177.34) 0.334 0.404AAA256350022 LC-Sr Lien Ob Fund-1 Interest912828UZ1 US GovTreasury, United States Department of04/30/2018 07/14/2015 700,000.00693,656.25---691,005.00(3,694.53) 0.625 1.185AAA14,981,212.02256350023 LC-Sr Lien Reserve Fund-13135G0D75 AgencyFederal National Mortgage Association06/22/2020 05/06/2015 600,000.00 593,490.00---592,530.00(1,754.62) 1.500 1.791AAA256350023 LC-Sr Lien Reserve Fund-13137EADR7 AgencyFederal Home Loan Mortgage Corp05/01/2020 05/15/2015 475,000.00 471,527.75---467,670.75(4,278.93) 1.375 1.746AAA256350023 LC-Sr Lien Reserve Fund-13137EACA5 AgencyFederal Home Loan Mortgage Corp03/27/2019 07/05/2013 800,000.00 875,900.00---856,528.0012,527.47 3.750 1.506AAA256350023 LC-Sr Lien Reserve Fund-13137EADB2 AgencyFederal Home Loan Mortgage Corp01/13/2022 07/05/2013 550,000.00 529,303.50---557,639.5022,813.11 2.375 2.128AAA256350023 LC-Sr Lien Reserve Fund-13137AEV77 Agency CMO Federal Home Loan Mortgage Corp05/25/2018 07/03/2013 251,000.00 258,314.30---256,456.742,092.39 2.699 1.787AAA256350023 LC-Sr Lien Reserve Fund-13137AJMF8 Agency CMO Federal Home Loan Mortgage Corp10/25/2021 08/05/2015 30,000.0031,038.28---30,964.50(6.07) 2.968 2.393AAA256350023 LC-Sr Lien Reserve Fund-138377JZ89 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T10/20/2039 07/05/2013 141,561.99 145,891.80---146,287.33738.38 3.500 1.718AAA256350023 LC-Sr Lien Reserve Fund-131392JJ83 Agency CMO Federal National Mortgage Association03/25/2018 07/08/2013 21,713.6322,907.88---22,328.13140.51 5.000 1.181AAA256350023 LC-Sr Lien Reserve Fund-138376GB33 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T10/16/2044 01/23/2015 345,123.42 354,257.21---350,217.44(3,523.21) 3.500 1.839AAA256350023 LC-Sr Lien Reserve Fund-13137AUPE3 Agency CMO Federal Home Loan Mortgage Corp06/25/2022 07/03/2013 235,000.00 220,358.40---233,691.059,746.07 2.396 2.620AAA256350023 LC-Sr Lien Reserve Fund-138378CRT6 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T10/20/2040 05/22/2014 114,543.82 110,606.38---112,877.212,110.65 2.000 2.358AAA256350023 LC-Sr Lien Reserve Fund-13137A7E22 Agency CMO Federal Home Loan Mortgage Corp04/15/2028 07/08/2013 190,692.05 197,425.86---195,951.342,933.25 3.500 1.124AAA256350023 LC-Sr Lien Reserve Fund-13137B03W2 Agency CMO Federal Home Loan Mortgage Corp08/25/2017 07/31/2013 42,624.9742,591.66---42,650.1164.95 1.426 1.773AAA256350023 LC-Sr Lien Reserve Fund-138376T5Z1 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T01/16/2039 01/26/2015 155,883.33 162,859.11---160,725.07(1,698.99) 3.000 2.039AAA256350023 LC-Sr Lien Reserve Fund-138377RSZ9 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T06/16/2039 01/21/2015 62,205.1665,925.58---64,921.03(1,128.56) 4.500 1.740AAA256350023 LC-Sr Lien Reserve Fund-138378BX20 Agency CMO Government National Mortgage Association06/16/2051 03/17/2015 70,336.5868,772.10---67,770.00(909.77) 1.240 2.547AAA256350023 LC-Sr Lien Reserve Fund-138378B7E3 Agency CMO Government National Mortgage Association05/16/2046 05/22/2015 228,481.27 219,609.77---220,066.30412.21 1.744 2.532AAA256350023 LC-Sr Lien Reserve Fund-138377RVK8 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T04/20/2039--- 180,377.62 185,464.83---185,938.661,139.71 3.000 1.820AAA256350023 LC-Sr Lien Reserve Fund-13136A7MJ8 Agency CMO Federal National Mortgage Association12/25/2019 08/20/2013 131,280.84129,332.14---131,643.181,417.30 1.520 1.423AAA256350023 LC-Sr Lien Reserve Fund-13137ASNH3 Agency CMO Federal Home Loan Mortgage Corp09/25/2021 07/03/2013 377,444.17 368,848.47---371,397.51(59.48) 1.459 2.014AAA256350023 LC-Sr Lien Reserve Fund-13136A72D3 Agency CMO Federal National Mortgage Association04/25/2022 07/03/2013 395,000.00375,250.00---396,019.1015,861.43 2.482 2.439AAA256350023 LC-Sr Lien Reserve Fund-138379C2M7 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T09/20/2041 07/11/2014 47,706.3949,885.81---49,411.42(685.87) 1.733 1.825AAA256350023 LC-Sr Lien Reserve Fund-138378B7F0 Agency CMO Government National Mortgage Association12/16/2042--- 450,000.00 427,324.22---423,927.00(3,767.13) 2.273 3.418AAAPage 8 of 3427 Source Account Account IdentifierSecurity Type Category IssuerFinal Maturity Trade DateCurrent Face Value Original CostNext Call Date Base Market ValueBase Net Total Unrealized Gain/Loss Coupon YieldSummarized Credit RatingSTAMP Portfolio by Account for quarter ended December 31, 2015256350023 LC-Sr Lien Reserve Fund-13137AQT24 Agency CMO Federal Home Loan Mortgage Corp01/25/2019 10/21/2013 170,000.00 171,195.31---171,433.10834.74 2.130 1.899AAA256350023 LC-Sr Lien Reserve Fund-138376WA62 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T10/20/2039 01/21/2015 140,922.27 147,952.73---148,353.10(1,769.24) 4.000 1.842AAA256350023 LC-Sr Lien Reserve Fund-138378TAF7 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T07/20/2041 07/05/2013 227,907.93 227,942.29---231,985.204,178.86 2.500 2.471AAA256350023 LC-Sr Lien Reserve Fund-138377DPX8 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T11/20/2036 12/31/2013 23,123.4324,240.82---23,250.6181.36 2.500 0.958AAA256350023 LC-Sr Lien Reserve Fund-131395EZP5 Agency CMO Federal Home Loan Mortgage Corp08/15/2019 07/09/2013 85,625.9390,589.56---88,429.32194.48 4.500 1.411AAA256350023 LC-Sr Lien Reserve Fund-131394DVM9 Agency CMO Federal National Mortgage Association02/25/2034 06/19/2014 154,765.65163,640.49---161,578.43(163.45) 5.000 1.277AAA256350023 LC-Sr Lien Reserve Fund-138378KXW4 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-T02/16/2037 12/11/2014 195,836.75 194,888.16---193,402.50(1,517.35) 1.705 2.118AAA256350023 LC-Sr Lien Reserve Fund-131413XVG5 Agency MBS Federal National Mortgage Association06/01/2019 08/04/2014 200,000.00218,500.00---208,616.00(4,622.84) 4.506 2.708AAA256350023 LC-Sr Lien Reserve Fund-138379KDN5 Agency MBS Government National Mortgage Association09/16/2055 08/05/2015 192,950.55 188,021.26---188,323.59192.82 2.098 2.904AAA256350023 LC-Sr Lien Reserve Fund-13136A4M48 Agency MBS Federal National Mortgage Association01/25/2022 07/05/2013 354,257.97355,254.32---356,546.481,817.15 2.098 1.871AAA256350023 LC-Sr Lien Reserve Fund-131381PEB0 Agency MBS Federal National Mortgage Association11/01/2020 09/26/2014 264,630.94278,648.11---277,013.022,028.02 3.370 2.188AAA256350023 LC-Sr Lien Reserve Fund-13137A7JU5 Agency MBS Federal Home Loan Mortgage Corp11/25/2017 07/03/2013 325,000.00 351,203.13---337,450.751,834.66 3.882 1.918AAA256350023 LC-Sr Lien Reserve Fund-138378KRS0 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-T07/16/2043 05/08/2015 450,000.00 434,460.94---434,178.00(571.62) 2.389 3.031AAA256350023 LC-Sr Lien Reserve Fund-138378KWU9 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-T11/16/2041 05/22/2015 70,395.8968,630.50---67,870.79(794.67) 1.400 2.546AAA256350023 LC-Sr Lien Reserve Fund-13138EJ6V5 Agency MBS Federal National Mortgage Association09/01/2026 11/18/2013 116,425.46123,611.10---123,508.79723.23 4.000 1.947AAA256350023 LC-Sr Lien Reserve Fund-138378XP62 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-T05/16/2055 05/14/2015 462,353.98 468,061.16---461,054.76(6,897.90) 2.500 2.646AAA256350023 LC-Sr Lien Reserve Fund-131404WTT3 Agency MBS Federal National Mortgage Association05/01/2019 12/31/2013 70,690.9078,802.15---73,582.16(2,044.69) 4.500 1.295AAA256350023 LC-Sr Lien Reserve Fund-131417YKF3 Agency MBS Federal National Mortgage Association01/01/2030 07/10/2013 139,131.33146,783.55---150,266.013,469.73 4.500 2.185AAA256350023 LC-Sr Lien Reserve Fund-131385XBG1 Agency MBS Federal National Mortgage Association03/01/2018 09/13/2013 12,538.2213,353.20---12,832.74(60.61) 6.000 1.783AAA256350023 LC-Sr Lien Reserve Fund-131416YXJ2 Agency MBS Federal National Mortgage Association08/01/2026 07/03/2013 59,929.5062,748.06---62,937.96728.31 3.500 1.845AAA256350023 LC-Sr Lien Reserve Fund-138378KSL4 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-T12/16/2046--- 425,000.00 415,829.11---411,247.00(4,686.60) 2.791 3.322AAA256350023 LC-Sr Lien Reserve Fund-13137B6ZL8 Agency MBS Federal Home Loan Mortgage Corp12/25/2019 01/07/2014 45,542.0146,452.34---45,951.44(152.46) 2.075 1.742AAA256350023 LC-Sr Lien Reserve Fund-131418AFW3 Agency MBS Federal National Mortgage Association06/01/2022 07/10/2013 207,165.03213,962.63---213,736.301,310.44 3.000 1.602AAA256350023 LC-Sr Lien Reserve Fund-13138L33G8 Agency MBS Federal National Mortgage Association06/01/2020 11/12/2015 100,000.0099,875.00---99,572.00(302.93) 2.010 2.070AAA256350023 LC-Sr Lien Reserve Fund-138378B6A2 Agency MBS Government National Mortgage Association11/16/2052 01/22/2015 135,942.30 131,656.92---131,843.64300.43 1.826 2.893AAA256350023 LC-Sr Lien Reserve Fund-13128MMAK9 Agency MBS Federal Home Loan Mortgage Corp09/01/2019 07/08/2013 126,706.61 134,704.97---133,117.971,073.39 5.000 1.300AAA256350023 LC-Sr Lien Reserve Fund-13136AEYG6 Agency MBS Federal National Mortgage Association06/25/2018 11/20/2013 143,131.11144,260.51---143,208.40(503.32) 1.825 1.989AAA256350023 LC-Sr Lien Reserve Fund-19AMMF05B2 MM FundU.S. Bank Money Market Account Fund12/31/2015---0.00 108,223.49---108,223.490.00 0.000 0.000NA256350023 LC-Sr Lien Reserve Fund-1912828B58 US GovTreasury, United States Department of01/31/2021--- 1,490,000.00 1,522,404.30--- 1,512,007.30(8,603.94) 2.125 1.819AAA256350023 LC-Sr Lien Reserve Fund-1912828UF5 US GovTreasury, United States Department of12/31/2019--- 1,250,000.00 1,231,787.31--- 1,226,275.00(6,813.62) 1.125 1.617AAA256350023 LC-Sr Lien Reserve Fund-1912828VV9 US GovTreasury, United States Department of08/31/2020 12/15/2015 85,000.0086,580.47---86,371.05(197.15) 2.125 1.763AAA256350023 LC-Sr Lien Reserve Fund-1912828VB3 US GovTreasury, United States Department of05/15/2023 07/05/2013 2,000,000.00 1,858,906.25--- 1,948,520.0057,307.24 1.750 2.129AAA256350023 LC-Sr Lien Reserve Fund-1912828KQ2 US GovTreasury, United States Department of05/15/2019 07/05/2013 500,000.00 539,902.34---527,480.004,021.15 3.125 1.450AAA256350023 LC-Sr Lien Reserve Fund-1912828RC6 US GovTreasury, United States Department of08/15/2021 11/10/2015 1,900,000.00 1,919,742.19--- 1,922,496.003,183.20 2.125 1.902AAA256350023 LC-Sr Lien Reserve Fund-1912828TJ9US GovTreasury, United States Department of08/15/202207/05/2013495,000.00461,355.47---482,139.9012,335.791.6252.046AAA256350023 LC-Sr Lien Reserve Fund-1912828TJ9US GovTreasury, United States Department of08/15/202207/05/2013495,000.00461,355.47---482,139.9012,335.791.6252.046AAA18,702,414.17Page 9 of 3428 Source Account Account Identifier DescriptionBeginning Base Market Value Base Purchases Base SalesBase Maturities and Redemptions Base PaydownsNet Total Realized Gain/LossBase Amortization/AccretionBase Change In Net Unrealized Gain/LossEnding Base Market ValueEnding Accrued Income Balance205091001 LC-2013 A Capitalized Interest 9AMMF05B2 U.S. Bank Money Market Accoun658,401.61 14,893,801.93 (15,468,859.39) - - - - - 83,344.15 - 205091001 LC-2013 A Capitalized Interest 31392HWL3 FN-033D-BC35,471.85 - - - (5,440.97) (162.08) (243.92) 141.38 29,766.27 120.71 205091001 LC-2013 A Capitalized Interest 31392F6C6 FN-0277C-CB231,192.67 - - - (39,507.23) (1,242.98) (1,769.00) 1,190.99 189,864.45 772.08 205091001 LC-2013 A Capitalized Interest 31393EXC8 FN-0388E-TH312,758.60 - - - (42,778.17) (1,452.75) (2,293.21) 1,360.56 267,595.04 970.44 205091001 LC-2013 A Capitalized Interest 912828UB4 UNITED STATES TREASURY2,475,075.00 - - - - - 3,652.14 (35,277.14) 2,443,450.00 2,185.79 205091001 LC-2013 A Capitalized Interest 166764AE0 CHEVRON CORP2,217,072.00 - (2,210,494.00) - - (1,143.44) (659.06) (4,775.49) - - 205091001 LC-2013 A Capitalized Interest 89236TAY1 TOYOTA MOTOR CREDIT CO2,020,960.00 - - - - - (1,731.77) (7,908.23) 2,011,320.00 7,444.44 205091001 LC-2013 A Capitalized Interest CCYUSD Payable(510,916.81) - - - - - - - - - 205091001 LC-2013 A Capitalized Interest 89114QAE8 TORONTO DOMINION BANK762,412.50 - - - - - (2,052.83) (2,492.17) 757,867.50 3,562.50 205091001 LC-2013 A Capitalized Interest 912828UA6 UNITED STATES TREASURY1,746,815.00 - - - - - 2,833.80 (14,138.80) 1,735,510.00 956.28 205091001 LC-2013 A Capitalized Interest 31402RBG3 FN 735439212,616.02 - - - (38,540.88) (1,621.36) (499.22) (100.37) 171,854.19 831.51 205091001 LC-2013 A Capitalized Interest 31402RBG3 FN 7354399,911.99 - - - (1,796.75) (73.25) (22.65) (7.64) 8,011.71 38.76 205091001 LC-2013 A Capitalized Interest 31402RBG3 FN 73543916,393.88 - - - (2,971.72) (113.28) (35.40) (22.57) 13,250.91 64.11 205091001 LC-2013 A Capitalized Interest 44328MAL8 HSBC BANK PLC1,014,750.00 - - - - - (4,509.57) (1,740.43) 1,008,500.00 3,186.11 205091001 LC-2013 A Capitalized Interest 44328MAL8 HSBC BANK PLC2,663,718.75 - - - - - (10,957.71) (5,448.54) 2,647,312.50 8,363.54 205091001 LC-2013 A Capitalized Interest 30231GAL6 EXXON MOBIL CORP581,368.80 - - - - - 59.78 (2,350.78) 579,077.80 2,417.88 205091001 LC-2013 A Capitalized Interest 3136ACGF2 FN-13M3-AQ2674,239.14 - - - (464,579.09) 147.67 (121.40) (683.80) 209,002.52 188.82 205091001 LC-2013 A Capitalized Interest31392FPP6 FN-0274C-PE144,936.16 - - - (24,618.84) (752.25) (1,132.10) 738.55 119,171.53 485.34 205091001 LC-2013 A Capitalized Interest 3136A8G38 FN-12M13A-A22,373,062.30 - - - (311,337.75) 2,441.18 2,234.88 (16,762.91) 2,049,637.70 2,128.72 205091001 LC-2013 A Capitalized Interest 31410GSQ7 FN 888927116,800.85 - - - (20,266.77) (688.32) (104.48) (992.05) 94,749.23 462.45 205091001 LC-2013 A Capitalized Interest 313384PU7 FED HOME LN DISCOUNT NT- 3,849,927.27 - (3,850,000.00) - - 72.73 - - - 205091001 LC-2013 A Capitalized Interest 313384PU7 FED HOME LN DISCOUNT NT649,935.00 - - (650,000.00) - - 190.42 (125.42) - - 205091001 LC-2013 A Capitalized Interest 3128MBTH0 FH G13052103,631.02 - - - (13,207.40) (480.62) (178.46) (338.23) 89,426.31 360.28 205091001 LC-2013 A Capitalized Interest 36290WH47 GN 619551871,166.60 - - - (103,268.84) (4,127.79) (2,652.52) (1,894.43) 759,223.02 2,771.16 205091001 LC-2013 A Capitalized Interest 3128H4NR6 FH E9670081,104.02 - - - (13,675.11) (450.45) (138.74) (305.60) 66,534.12 268.05 205091001 LC-2013 A Capitalized Interest 3128PGLY7 FH J04843173,940.98 - - - (45,120.81) (986.53) (317.79) (1,155.29) 126,360.57 509.08 205091001 LC-2013 A Capitalized Interest 912828UZ1 UNITED STATES TREASURY3,382,558.00 - - - - - 3,398.55 (29,646.55) 3,356,310.00 3,619.51 205091001 LC-2013 A Capitalized Interest 822582AC6 SHELL INTERNATIONAL FINA423,240.00 - - - - - (3,448.66) (827.34) 418,964.00 5,720.00 205091001 LC-2013 A Capitalized Interest 184126YS3 CLAYTON CNTY & CLAYTON774,881.80 - - - - - 941.85 (3,244.15) 772,579.50 1,668.33 205091001 LC-2013 A Capitalized Interest 64966H4E7 NEW YORK N Y1,205,708.40 - - - - - (4,102.33) 6,220.03 1,207,826.10 9,184.50 205091001 LC-2013 A Capitalized Interest 037833AJ9 APPLE INC2,985,990.00 - - - - - 3,430.03 (13,780.03) 2,975,640.00 4,833.33 205091001 LC-2013 A Capitalized Interest 912828M23 UNITED STATES TREASURY- 798,262.41 - - - - 7.46 1,002.13 799,272.00 492.61 STAMP Portfolio Transaction Report by AccountQuarter ended December 31, 2015p,,,205091001 LC-2013 A Capitalized Interest 912828SY7 UNITED STATES TREASURY3,902,886.00 - - - - - 4,627.90 (24,712.90) 3,882,801.00 2,131.15 205091001 LC-2013 A Capitalized Interest 407288YD5 HAMILTON SWR-B-REF2,081,040.00 - - (2,080,000.00) - - - (1,040.00) - - 205091001 LC-2013 A Capitalized Interest 084664BE0 BERKSHIRE HATHAWAY FIN881,400.00 - - - - - (7,755.12) (5,316.88) 868,328.00 5,520.00 205091001 LC-2013 A Capitalized Interest 31392BVM5 FN-023C-PG46,764.67 - - - (16,409.58) (304.89) (234.18) 73.11 29,889.13 135.37 205091001 LC-2013 A Capitalized Interest 912828J84 UNITED STATES TREASURY3,009,060.00 - - - - - 2,001.26 (47,991.26) 2,963,070.00 10,481.56 205091001 LC-2013 A Capitalized Interest 912828J84 UNITED STATES TREASURY1,303,926.00 - - - - - 879.32 (20,808.32) 1,283,997.00 4,542.01 205091001 LC-2013 A Capitalized Interest 459200GX3 INTERNATIONAL BUSINESS M470,342.85 - - - - - (1,079.32) (1,482.83) 467,780.70 4,004.81 205091001 LC-2013 A Capitalized Interest 313384PQ6 FED HOME LN DISCOUNT NT- 999,952.78 - (1,000,000.00) - - 47.22 - - - 205091001 LC-2013 A Capitalized Interest 78008K5V1 ROYAL BANK OF CANADA2,025,600.00 - - - - - (9,157.94) (4,122.06) 2,012,320.00 11,500.00 205091001 LC-2013 A Capitalized Interest 3136A4M89 FN-12M3B-2A1583,969.36 - (567,533.61) - (10,802.29) 3,451.05 (108.59) (8,975.93) - - 205091001 LC-2013 A Capitalized Interest 3130A3BD5 FEDERAL HOME LOAN BANK600,360.00 - (600,000.00) - - - (368.43) 8.43 - - 205091001 LC-2013 A Capitalized Interest 89153VAC3 TOTAL CAPITAL INTERNATIO161,171.20 - - - - - 142.32 (903.92) 160,409.60 20.67 205091001 LC-2013 A Capitalized Interest 90327QCW7 USAA CAPITAL CORP4,068,760.00 - - - - - (10,819.13) (10,620.87) 4,047,320.00 22,750.00 205091001 LC-2013 A Capitalized Interest 31294LPZ0 FH E02240108,953.71 - - - (31,774.67) (582.42) (332.04) (28.10) 76,236.48 376.51 205091001 LC-2013 A Capitalized Interest 912828RU6 UNITED STATES TREASURY3,517,710.00 - - - - - 233.62 (15,878.62) 3,502,065.00 2,677.60 205091001 LC-2013 A Capitalized Interest 36200AFG9 GN 59516743,021.10 - - - (11,052.39) (396.11) (131.19) (29.04) 31,412.36 140.91 205091001 LC-2013 A Capitalized Interest 235219JS2 DALLAS TEX2,162,093.15 - - - - - - (12,617.85) 2,149,475.30 12,816.17 205091001 LC-2013 A Capitalized Interest 31393V2T7 FH-2627E-GY586,581.92 - - - (83,969.23) (2,885.50) (4,865.59) 3,050.16 497,911.76 1,812.96 205091001 LC-2013 A Capitalized Interest 31359MZC0 FANNIE MAE500,780.00 - - (500,000.00) - - (830.00) 50.00 - - 205091001 LC-2013 A Capitalized Interest 31402QT68 FN 735073241,496.38 - - - (35,144.30) (1,800.99) (507.06) (134.77) 203,909.27 979.22 205091001 LC-2013 A Capitalized Interest 3128GNR59 FH E8590887,821.01 - - - (22,669.04) (473.35) (392.69) 197.38 64,483.32 318.64 205091001 LC-2013 A Capitalized Interest 31401MWC1 FN 712643700,828.22 - - - (104,181.03) (3,552.64) (1,531.96) (457.40) 591,105.19 2,145.00 205091001 LC-2013 A Capitalized Interest 742718DV8 PROCTER & GAMBLE CO1,250,726.00 - (1,247,316.00) - - 3,484.35 (755.10) (6,139.25) - - 205091001 LC-2013 A Capitalized Interest 3128PHVS7 FH J0602574,344.59 - - - (13,938.75) (426.03) (128.64) (313.60) 59,537.58 239.86 205091001 LC-2013 A Capitalized Interest 3132FEAK7 FH Z50010136,180.02 - - - (20,195.43) (680.99) (438.21) (288.56) 114,576.83 461.60 205091001 LC-2013 A Capitalized Interest3137ANLP8 FH-K501-A23,079,885.98 -(2,956,611.14) -(117,633.93) 8,205.33(1,018.10) (12,828.14) -- 60,034,898.28 20,541,944.39 (23,050,814.14) (8,080,000.00) (1,594,880.96) (6,668.41) (52,670.80) (304,675.53) 47,998,049.64 146,660.37 256350001 LC-Project Fund-2 Senior Lien 9AMMF05B2 U.S. Bank Money Market Accoun96,989.48 55,864,275.85 (55,852,993.76) - - - - - 108,271.57 - 256350001 LC-Project Fund-2 Senior Lien25737LAK6 Dominion Gas Holdings, LLC- 1,998,459.44 - - - - 950.56 250.00 1,999,660.00 - 256350001 LC-Project Fund-2 Senior Lien27886MX65 Ecolab Inc.1,999,960.00 - - (2,000,000.00) - - 116.67 (76.67) - - 256350001 LC-Project Fund-2 Senior Lien23337SAB0 DTE Gas Company- 1,999,066.66 - - - - 600.00 173.34 1,999,840.00 - 256350001 LC-Project Fund-2 Senior Lien84364UX93 Southern Power Company1,999,920.00 - - (2,000,000.00) - - 200.00 (120.00) - - 256350001 LC-Project Fund-2 Senior Lien13638XXE5 Canadian Natural Resources Limi1,999,880.00 - - (2,000,000.00) - - 375.55 (255.55) - - 256350001 LC-Project Fund-2 Senior Lien57163UZH2 Marriott International, Inc.- 1,999,071.12 - (2,000,000.00) - - 928.88 - - - 256350001 LC-Project Fund-2 Senior Lien05634FXE4 Bacardi-Martini B.V.1,999,880.00 - - (2,000,000.00) - - 332.22 (212.22) - - 256350001 LC-Project Fund-2 Senior Lien65475LAU6 Nissan Motor Acceptance Corpora- 1,998,417.22 - - - - 427.78 615.00 1,999,460.00 - 256350001 LC-Project Fund-2 Senior Lien05333TA52 AutoZone, Inc.- 999,333.33 - - - - 611.11 45.56 999,990.00 - 256350001 LC-Project Fund-2 Senior Lien161571FR0 CHAIT 2012-A8 A8105,000.00 - - - (105,000.00) - - - - - 256350001 LC-Project Fund-2 Senior Lien92780JAL5 Virginia Electric and Power Comp- 1,998,146.12 - - - - 1,357.77 136.11 1,999,640.00 - 256350001 LC-Project Fund-2 Senior Lien43357MXM7 Hitachi Capital America Corp.1,999,820.00 - - (2,000,000.00) - - 566.66 (386.66) - - Page 10 of 34ATTACHMENT 429 Source Account Account Identifier DescriptionBeginning Base Market Value Base Purchases Base SalesBase Maturities and Redemptions Base PaydownsNet Total Realized Gain/LossBase Amortization/AccretionBase Change In Net Unrealized Gain/LossEnding Base Market ValueEnding Accrued Income BalanceSTAMP Portfolio Transaction Report by AccountQuarter ended December 31, 2015256350001 LC-Project Fund-2 Senior Lien92939BYQ5 WPP PLC - 1,999,275.00 - (2,000,000.00) - - 725.00 - - - 256350001 LC-Project Fund-2 Senior Lien98412FYL0 Xerox Corporation - 1,999,324.44 - (2,000,000.00) - - 675.56 - - - 256350001 LC-Project Fund-2 Senior Lien6362P3ZN7 National Grid USA - 1,999,331.12 - (2,000,000.00) - - 668.88 - - - 256350001 LC-Project Fund-2 Senior Lien74432KX52 Prudential Financial, Inc. 1,999,960.00 - - (2,000,000.00) - - 91.11 (51.11) - - 256350001 LC-Project Fund-2 Senior Lien42824EA88 Hewlett Packard Enterprise Comp- 1,998,312.22 - - - - 1,446.67 141.11 1,999,900.00 - 256350001 LC-Project Fund-2 Senior Lien65474VAG6 NMOTR-13A-A - 1,599,750.00 - - - - 13.99 236.01 1,600,000.00 476.38 256350001 LC-Project Fund-2 Senior Lien15103HZJ8 Celgene Corporation - 1,999,386.66 - (2,000,000.00) - - 613.34 - - - 256350001 LC-Project Fund-2 Senior Lien13638XY46 Canadian Natural Resources Limi- 1,999,535.56 - (2,000,000.00) - - 464.44 - - - 256350001 LC-Project Fund-2 Senior Lien63946EZA5 Comcast Corporation - 1,999,377.78 - (2,000,000.00) - - 622.22 - - - 256350001 LC-Project Fund-2 Senior Lien20279WYC9 Commonwealth Edison Company - 1,999,275.00 - (2,000,000.00) - - 725.00 - - - 256350001 LC-Project Fund-2 Senior Lien29380DZ94 Enterprise Products Operating LL- 1,999,168.88 - (2,000,000.00) - - 831.12 - - - 256350001 LC-Project Fund-2 Senior Lien00287BA74 AbbVie Inc. - 1,799,339.99 - - - - 480.01 126.00 1,799,946.00 - 256350001 LC-Project Fund-2 Senior Lien6116M3YC5 Monsanto Company 2,099,496.00 - - (2,100,000.00) - - 1,445.50 (941.50) - - 256350001 LC-Project Fund-2 Senior Lien05634BA65 Bacardi U.S.A., Inc. - 1,998,611.66 - - - - 1,246.67 101.67 1,999,960.00 - 256350001 LC-Project Fund-2 Senior Lien3133XDDQ1 FHLB 5.065 10/20/15 MATd 176,103.17 - - - (175,578.20) 0.01 (414.68) (110.30) - - 256350001 LC-Project Fund-2 Senior Lien07787QXN1 The Bell Telephone Company of C1,899,810.00 - - (1,900,000.00) - - 465.50 (275.50) - - 256350001 LC-Project Fund-2 Senior Lien25156KA87 Deutsche Telekom AG - 1,998,353.34 - - - - 1,444.44 102.22 1,999,900.00 - 256350001 LC-Project Fund-2 Senior Lien29250BYG0 Encana Corporation - 1,999,090.00 - (2,000,000.00) - - 910.00 - - - 256350001 LC-Project Fund-2 Senior Lien91058TAK2 United Healthcare Corporation - 1,998,791.12 - - - - 528.89 340.00 1,999,660.00 - 256350001 LC-Project Fund-2 Senior Lien25737MXS2 Dominion Gas Holdings, LLC 1,999,760.00 - - (2,000,000.00) - - 611.12 (371.12) - - 256350001 LC-Project Fund-2 Senior Lien1104A3Z38 BAE SYSTEMS HOLDINGS IN- 1,999,275.00 - (2,000,000.00) - - 725.00 - - - 256350001 LC-Project Fund-2 Senior Lien8426E3X93 Southern Company Funding Corp 1,099,956.00 - - (1,100,000.00) - - 107.55 (63.55) - - 256350001 LC-Project Fund-2 Senior Lien83701MXF1 South Carolina Fuel Company, In1,999,860.00 - - (2,000,000.00) - - 326.67 (186.67) - - 256350001 LC-Project Fund-2 Senior Lien28103AAF1 Edison International - 1,998,787.22 - - - - 753.89 198.89 1,999,740.00 - 256350001 LC-Project Fund-2 Senior Lien61979JA72 Motiva Enterprises LLC - 1,998,555.56 - - - - 1,277.77 106.67 1,999,940.00 - 256350001 LC-Project Fund-2 Senior Lien74432KZ76 Prudential Financial, Inc. - 1,998,650.00 - (2,000,000.00) - - 1,350.00 - - - 256350001 LC-Project Fund-2 Senior Lien6821A3Y90 Omnicom Capital Inc. - 1,998,986.66 - (2,000,000.00) - - 1,013.34 - - - 256350001 LC-Project Fund-2 Senior Lien6821A3Y90 Omnicom Capital Inc. - 1,999,112.22 - (2,000,000.00) - - 887.78 - - - 256350001 LC-Project Fund-2 Senior Lien65475MY53 Nissan Motor Acceptance Corpora1,999,600.00 - - (2,000,000.00) - - 875.00 (475.00) - - 256350001 LC-Project Fund-2 Senior Lien89231NAC7 TAOT 2012-B A3 3,671.39 - - - (3,671.39) (0.00) (0.04) 0.04 - - 256350001 LC-Project Fund-2 Senior Lien89231NAC7 TAOT 2012-B A3 16,688.14 - - - (16,688.14) (0.00) (0.53) 0.53 - - 256350001 LC-Project Fund-2 Senior Lien02581RAM5 American Express Credit Corpora- 1,998,750.00 - - - - 694.44 175.56 1,999,620.00 - jpp256350001 LC-Project Fund-2 Senior Lien25737MZ76 Dominion Gas Holdings, LLC - 1,299,378.17 - (1,300,000.00) - - 621.83 - - - 256350001 LC-Project Fund-2 Senior Lien1248C3XG4 CBS Corporation 1,899,867.00 - - (1,900,000.00) - - 348.34 (215.34) - - 256350001 LC-Project Fund-2 Senior Lien1248C3YC2 CBS Corporation - 1,799,159.51 - (1,800,000.00) - - 840.49 - - - 256350001 LC-Project Fund-2 Senior Lien07787QZF6 The Bell Telephone Company of C- 1,998,590.00 (249,922.36) (1,750,000.00) - 7.22 1,325.14 - - - 256350001 LC-Project Fund-2 Senior Lien61979KY99 Motiva Enterprises LLC - 1,999,610.00 - (2,000,000.00) - - 390.00 - - - 256350001 LC-Project Fund-2 Senior Lien91324PCJ9 UNITEDHEALTH GROUP INC 289,994.20 - - - - - (38.61) 238.71 290,194.30 456.11 256350001 LC-Project Fund-2 Senior Lien61979KXD1 Motiva Enterprises LLC1,999,880.00 - - (2,000,000.00) - - 300.00 (180.00) - - 256350001 LC-Project Fund-2 Senior Lien88513AAE2 Thomson Reuters Corporation- 1,997,833.34 - - - - 1,733.33 213.33 1,999,780.00 - 256350001 LC-Project Fund-2 Senior Lien27886LB87 Ecolab Inc.- 1,997,408.88 - - - - 1,472.23 158.89 1,999,040.00 - 256350001 LC-Project Fund-2 Senior Lien58507AAB9 Medtronic Global Holdings S.C.A- 1,999,028.34 - - - - 677.22 134.44 1,999,840.00 - 256350001 LC-Project Fund-2 Senior Lien85572AAD8 Starwood Hotels & Resorts World- 1,998,622.22 - - - - 1,111.11 66.67 1,999,800.00 - 256350001 LC-Project Fund-2 Senior Lien91302CAC1 United Technologies Corporation - 1,299,140.56 - - - - 581.39 161.05 1,299,883.00 - 256350001 LC-Project Fund-2 Senior Lien05634CYJ9 Bacardi U.S.A., Inc. - 1,999,131.12 - (2,000,000.00) - - 868.88 - - - 256350001 LC-Project Fund-2 Senior Lien88513BY46 Thomson Reuters Corporation 1,999,600.00 - - (2,000,000.00) - - 1,133.34 (733.34) - - 256350001 LC-Project Fund-2 Senior Lien07588MYQ3 Becton, Dickinson and Company - 1,998,800.00 - (2,000,000.00) - - 1,200.00 - - - 256350001 LC-Project Fund-2 Senior Lien28103BY22 Edison International 1,349,743.50 - - (1,350,000.00) - - 504.00 (247.50) - - 256350001 LC-Project Fund-2 Senior Lien55314MAD8 MMAFEF-11A-A4 - 175,852.17 - - (46,566.72) (125.60) (9.94) 27.21 129,177.12 120.28 256350001 LC-Project Fund-2 Senior Lien15103HYC4 Celgene Corporation - 1,999,333.34 - (2,000,000.00) - - 666.66 - - - 256350001 LC-Project Fund-2 Senior Lien161571GM0 CHAIT 2014-A4 A4- 129,903.52 - - - - 32.35 6.93 129,942.80 126.89 256350001 LC-Project Fund-2 Senior Lien44890NZ78 Hyundai Capital America- 1,998,594.44 - (2,000,000.00) - - 1,405.56 - - - 256350001 LC-Project Fund-2 Senior Lien77434MX18 Rockwell Collins, Inc.2,000,000.00 - - (2,000,000.00) - - - - - - 256350001 LC-Project Fund-2 Senior Lien92939BXN3 WPP PLC1,999,800.00 - - (2,000,000.00) - - 606.67 (406.67) - - 256350001 LC-Project Fund-2 Senior Lien26244JXK0 Duke Energy Corporation1,999,840.00 - - (2,000,000.00) - - 440.00 (280.00) - - 256350001 LC-Project Fund-2 Senior Lien43357MZ94 Hitachi Capital America Corp.- 1,999,055.56 - (2,000,000.00) - - 944.44 - - - 256350001 LC-Project Fund-2 Senior Lien2574P1XK3 Dominion Resources, Inc.1,999,840.00 - - (2,000,000.00) - - 500.00 (340.00) - - 256350001 LC-Project Fund-2 Senior Lien91302DYG4 United Technologies Corporation- 1,999,377.78 - (2,000,000.00) - - 622.22 - - - 256350001 LC-Project Fund-2 Senior Lien41282JAB7 Harley-Davidson Financial Servic- 1,998,988.88 - - - - 722.23 128.89 1,999,840.00 - 256350001 LC-Project Fund-2 Senior Lien63946DAC0 NBCUniversal Enterprise, Inc. - 1,998,988.88 - - - - 583.34 247.78 1,999,820.00 - 256350001 LC-Project Fund-2 Senior Lien44890NX13 Hyundai Capital America2,000,000.00 - - (2,000,000.00) - - - - - - 41,034,918.88 142,922,605.88 (56,102,916.12) (87,200,000.00) (347,504.45) (118.37) 47,655.06 (1,796.09) 40,352,844.79 1,179.67 256350004 LC-PF-2 Sales Tax Revenue Bond 9AMMF05B2 U.S. Bank Money Market Accoun85,658.14 35,955,839.13 (35,925,016.66) - - - - - 116,480.61 - 256350004 LC-PF-2 Sales Tax Revenue Bond 84364UX93 Southern Power Company 2,499,900.00 - - (2,500,000.00) - - 250.00 (150.00) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 05333UXK1 AutoZone, Inc. 2,499,800.00 - - (2,500,000.00) - - 500.00 (300.00) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 13638XXE5 Canadian Natural Resources Limi2,749,835.00 - - (2,750,000.00) - - 546.18 (381.18) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 05333TA52 AutoZone, Inc. - 1,598,933.33 - - - - 977.78 72.89 1,599,984.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 13638XYK0 Canadian Natural Resources Limi- 1,999,373.34 - (2,000,000.00) - - 626.66 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 65475LAU6 Nissan Motor Acceptance Corpora- 699,446.03 - - - - 149.72 215.25 699,811.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 43357MXM7 Hitachi Capital America Corp. 2,299,793.00 - - (2,300,000.00) - - 651.66 (444.66) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 27743KY20 Eastman Chemical Company 1,499,715.00 - - (1,500,000.00) - - 600.00 (315.00) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 98412FYL0 Xerox Corporation - 2,199,256.88 - (2,200,000.00) - - 743.12 - - - Page 11 of 3430 Source Account Account Identifier DescriptionBeginning Base Market Value Base Purchases Base SalesBase Maturities and Redemptions Base PaydownsNet Total Realized Gain/LossBase Amortization/AccretionBase Change In Net Unrealized Gain/LossEnding Base Market ValueEnding Accrued Income BalanceSTAMP Portfolio Transaction Report by AccountQuarter ended December 31, 2015256350004 LC-PF-2 Sales Tax Revenue Bond 6362P3ZN7 National Grid USA- 549,816.06 - (550,000.00) - - 183.94 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond CCYUSD Cash(0.01) - - - - - - - (0.01) - 256350004 LC-PF-2 Sales Tax Revenue Bond 20279WX89 Commonwealth Edison Company 2,699,919.00 - - (2,700,000.00) - - 252.00 (171.00) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 42824EA88 Hewlett Packard Enterprise Comp- 1,798,481.00 - - - - 1,302.00 127.00 1,799,910.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 65474VAG6 NMOTR-13A-A - 1,399,781.25 - - - - 12.24 206.51 1,400,000.00 416.83 256350004 LC-PF-2 Sales Tax Revenue Bond 15103HZJ8 Celgene Corporation - 1,799,447.99 - (1,800,000.00) - - 552.01 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 20279WYC9 Commonwealth Edison Company - 1,999,275.00 - (2,000,000.00) - - 725.00 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 29380DZ94 Enterprise Products Operating LL- 1,499,450.00 - (1,500,000.00) - - 550.00 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 00287BA74 AbbVie Inc. - 649,761.66 - - - - 173.34 45.50 649,980.50 - 256350004 LC-PF-2 Sales Tax Revenue Bond 6116M3YC5 Monsanto Company 2,599,376.00 - - (2,600,000.00) - - 1,789.67 (1,165.67) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 64468EAZ3 NEW HAMPSHIRE ST BUSINE3,200,000.00 - - - - - - - 3,200,000.00 675.56 256350004 LC-PF-2 Sales Tax Revenue Bond 05634BA65 Bacardi U.S.A., Inc. - 1,798,750.49 - - - - 1,122.01 91.50 1,799,964.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 29250BYG0 Encana Corporation - 2,198,999.00 - (2,200,000.00) - - 1,001.00 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 91058TAK2 United Healthcare Corporation - 1,599,032.90 - - - - 423.11 271.99 1,599,728.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 25737MXS2 Dominion Gas Holdings, LLC 1,999,760.00 - - (2,000,000.00) - - 611.12 (371.12) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 83701MXF1 South Carolina Fuel Company, In2,299,839.00 - - (2,300,000.00) - - 375.67 (214.67) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 28103AAF1 Edison International - 1,599,035.55 - - - - 528.89 227.56 1,599,792.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 61979JA72 Motiva Enterprises LLC - 1,798,725.01 - - - - 1,124.99 96.00 1,799,946.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 26244JYC7 Duke Energy Corporation - 1,699,438.52 - (1,700,000.00) - - 561.48 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 407288YD5 HAMILTON SWR-B-REF 6,648,322.50 - - (6,645,000.00) - - - (3,322.50) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 65475MY53 Nissan Motor Acceptance Corpora2,299,540.00 - - (2,300,000.00) - - 1,006.25 (546.25) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 1248C3YH1 CBS Corporation - 2,199,291.12 - (2,200,000.00) - - 708.88 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 89231NAC7 TAOT 2012-B A3 18,106.63 - - - (18,106.62) (0.01) (0.58) 0.58 - - 256350004 LC-PF-2 Sales Tax Revenue Bond 02581RAM5 American Express Credit Corpora- 949,406.25 - - - - 329.86 83.39 949,819.50 - 256350004 LC-PF-2 Sales Tax Revenue Bond 07787QZF6 The Bell Telephone Company of C- 2,198,449.00 - (2,200,000.00) - - 1,551.00 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 61979KY99 Motiva Enterprises LLC - 1,399,727.00 - (1,400,000.00) - - 273.00 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 91324PCJ9 UNITEDHEALTH GROUP INC 394,992.10 - - - - - (52.59) 325.14 395,264.65 621.26 256350004 LC-PF-2 Sales Tax Revenue Bond 88513AAE2 Thomson Reuters Corporation - 1,798,204.50 - - - - 1,425.00 172.50 1,799,802.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 27886LB87 Ecolab Inc. - 1,498,056.66 - - - - 1,104.17 119.17 1,499,280.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 58507AAB9 Medtronic Global Holdings S.C.A- 1,499,271.26 - - - - 507.91 100.83 1,499,880.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 85572AAD8 Starwood Hotels & Resorts World- 1,798,760.00 - - - - 1,000.00 60.00 1,799,820.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond 07588LA81 Becton, Dickinson and Company - 1,249,010.41 - - - - 868.06 59.03 1,249,937.50 - py256350004 LC-PF-2 Sales Tax Revenue Bond 64468EAY6 NEW HAMPSHIRE ST BUSINE4,190,000.00 - - - - - - - 4,190,000.00 884.56 256350004 LC-PF-2 Sales Tax Revenue Bond 88513BY46 Thomson Reuters Corporation 1,999,600.00 - - (2,000,000.00) - - 1,133.34 (733.34) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 05634CYJ9 Bacardi U.S.A., Inc. - 2,199,044.23 - (2,200,000.00) - - 955.77 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 57163UX50 Marriott International, Inc. 2,699,946.00 - - (2,700,000.00) - - 150.00 (96.00) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 28103BY22 Edison International 2,299,563.00 - - (2,300,000.00) - - 858.66 (421.66) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 44890NZ78 Hyundai Capital America - 1,998,594.44 - (2,000,000.00) - - 1,405.56 - - - 256350004 LC-PF-2 Sales Tax Revenue Bond 92939BXN3 WPP PLC 2,499,750.00 - - (2,500,000.00) - - 758.33 (508.33) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 2574P1XK3 Dominion Resources, Inc. 2,699,784.00 - - (2,700,000.00) - - 675.00 (459.00) - - 256350004 LC-PF-2 Sales Tax Revenue Bond 25737LAM2 Dominion Gas Holdings, LLC - 1,798,572.01 - - - - 867.99 218.00 1,799,658.00 - 256350004 LC-PF-2 Sales Tax Revenue Bond41282JAB7 Harley-Davidson Financial Servic- 1,599,191.10 - - - - 577.79 103.11 1,599,872.00 - 50,183,199.37 85,028,421.12 (35,925,016.66) (66,245,000.00) (18,106.62) (0.01) 32,436.98 (7,004.42) 33,048,929.75 2,598.20 256350005 LC-Project Fund-Toll 2 9AMMF05B2 U.S. Bank Money Market Accoun191,858.42 7,436,695.42 (7,539,856.16) - - - - - 88,697.68 - 256350005 LC-Project Fund-Toll 236962G7H1 GENERAL ELECTRIC CAPITA115,116.15 - (115,050.60) - - (93.40) (9.60) 37.45 - - 256350005 LC-Project Fund-Toll 217305EFE0 CCCIT-13A6-A6 331,610.40 - (331,263.28) - - 40.11 (126.75) (260.47) - - 256350005 LC-Project Fund-Toll 2161571FK5 CHAIT 2012-A4 A4 - 148,359.38 - - - - 19.76 (650.14) 147,729.00 105.33 256350005 LC-Project Fund-Toll 200138CAA6 AIG GLOBAL FUNDING 300,657.00 - - - - - (69.55) (2,096.45) 298,491.00 220.00 256350005 LC-Project Fund-Toll 2912828TG5 UNITED STATES TREASURY - 695,105.47 - - - - 122.35 (533.82) 694,694.00 1,464.67 256350005 LC-Project Fund-Toll 2912828TG5 UNITED STATES TREASURY 673,751.25 - (124,648.44) - - (9.33) 228.19 (3,490.67) 545,831.00 1,150.82 256350005 LC-Project Fund-Toll 236225FGM5 G2 082903 125,999.75 - - - (6,267.80) (217.82) (39.63) (653.34) 118,821.16 179.38 256350005 LC-Project Fund-Toll 289153UAE1 TOTAL CAPITAL CANADA LT300,534.00 - - - - - - (2,388.00) 298,146.00 2,005.83 256350005 LC-Project Fund-Toll 2718172AA7 PHILIP MORRIS INTERNATIO276,110.00 - - - - - (2,369.74) (982.77) 272,757.50 1,765.63 256350005 LC-Project Fund-Toll 222546QAM9 CREDIT SUISSE AG (NEW YO249,152.50 - (249,122.50) - - (278.26) 36.93 211.33 - - 256350005 LC-Project Fund-Toll 226442CAD6 DUKE ENERGY CAROLINAS L126,318.20 - - - - - (1,000.41) (988.99) 124,328.80 1,248.93 256350005 LC-Project Fund-Toll 2912828KQ2 UNITED STATES TREASURY - 222,476.95 - - - - (404.46) (530.89) 221,541.60 847.36 256350005 LC-Project Fund-Toll 2912828KQ2 UNITED STATES TREASURY - 741,398.44 - - - - (809.41) (2,117.03) 738,472.00 2,824.52 256350005 LC-Project Fund-Toll 2912828KQ2 UNITED STATES TREASURY 642,594.00 - - - - - (2,394.26) (7,223.74) 632,976.00 2,421.02 256350005 LC-Project Fund-Toll 243357LA51 Hitachi Capital America Corp. - 474,794.96 - - - - 146.46 53.83 474,995.25 - 256350005 LC-Project Fund-Toll 238378NNA7 GN-13194-AB 595,874.52 - - - (4,477.41) (27.89) 185.71 (4,956.69) 586,598.23 1,097.28 256350005 LC-Project Fund-Toll 2828807CM7 SIMON PROPERTY GROUP LP- 139,552.00 - - - - 30.57 (729.17) 138,853.40 875.00 256350005 LC-Project Fund-Toll 2912828KD1 UNITED STATES TREASURY - 421,437.50 - - - - (1,011.66) (3,629.84) 416,796.00 4,154.89 256350005 LC-Project Fund-Toll 2912828KD1 UNITED STATES TREASURY - 840,750.00 - - - - (1,888.69) (5,269.31) 833,592.00 8,309.78 256350005 LC-Project Fund-Toll 2912828KD1 UNITED STATES TREASURY - 324,858.20 - - - - (641.35) (1,199.95) 323,016.90 3,220.04 256350005 LC-Project Fund-Toll 2912828KD1 UNITED STATES TREASURY - 313,664.06 - - - - (273.21) (793.85) 312,597.00 3,116.17 256350005 LC-Project Fund-Toll 2084664CD1 BERKSHIRE HATHAWAY FIN298,782.00 - - - - - (16.90) 550.90 299,316.00 413.73 256350005 LC-Project Fund-Toll 23130A3TW4 FEDERAL HOME LOAN BANK- 275,440.00 - (275,000.00) - - (440.00) - - - 256350005 LC-Project Fund-Toll 247787RAD2 JDOT-12B-A4 324,092.13 - - - (324,143.99) (31.84) (8.30) 92.00 - - 256350005 LC-Project Fund-Toll 247787RAD2 JDOT-12B-A4 343,734.08 - - - (343,789.09) (27.71) (7.23) 89.94 - - 256350005 LC-Project Fund-Toll 258769AAD8 MBALT-15B-A3 - 254,990.34 - - - - 0.46 (1,174.00) 253,816.80 151.87 256350005 LC-Project Fund-Toll 274153WCE7 PRICOA GLOBAL FUNDING I 299,151.00 - - - - - 55.49 (1,225.49) 297,981.00 1,496.25 256350005 LC-Project Fund-Toll 247787UAC7 JDOT-15-A2B 424,532.50 - (422,958.84) - (1,395.83) (689.51) (9.50) 521.18 - - Page 12 of 3431 Source Account Account Identifier DescriptionBeginning Base Market Value Base Purchases Base SalesBase Maturities and Redemptions Base PaydownsNet Total Realized Gain/LossBase Amortization/AccretionBase Change In Net Unrealized Gain/LossEnding Base Market ValueEnding Accrued Income BalanceSTAMP Portfolio Transaction Report by AccountQuarter ended December 31, 2015256350005 LC-Project Fund-Toll 292976WBH8 WACHOVIA CORP218,850.00 - (217,670.00) - - (333.99) (1,046.72) 200.71 - - 256350005 LC-Project Fund-Toll 259562VAT4 MIDAMERICAN ENERGY HOL- 165,180.00 - - - - (1,215.61) (1,914.89) 162,049.50 2,156.25 256350005 LC-Project Fund-Toll 290290KAD7 USAOT-141-A4 445,747.60 - - - - - 166.87 (2,672.22) 443,242.25 185.91 256350005 LC-Project Fund-Toll 23130A6G92 FEDERAL HOME LOAN BANK350,000.00 - (349,940.50) - - (59.50) - - - - 256350005 LC-Project Fund-Toll 238378BR35 GN-12142-AB 338,701.89 - - - (2,403.83) 52.26 (286.47) (2,864.28) 333,199.56 380.94 256350005 LC-Project Fund-Toll 2928668AF9 VOLKSWAGEN GROUP OF AM287,835.00 - - - - - (53.52) 3,500.52 291,282.00 546.67 256350005 LC-Project Fund-Toll 236225FLU1 G2 083038 262,587.43 - - - (9,806.56) (330.93) (80.19) (2,096.43) 250,273.31 355.53 256350005 LC-Project Fund-Toll 2912828M23 UNITED STATES TREASURY - 424,196.39 - - - - 2.29 414.57 424,613.25 261.70 256350005 LC-Project Fund-Toll 2073928S46 BEAR STEARNS COMPANIES 159,676.80 - (159,792.00) - - (57.73) 13.77 159.16 - - 256350005 LC-Project Fund-Toll 23138EKUP8 FN AL3289 301,952.88 - - - (33,890.10) (1,837.21) (663.19) 1,432.31 266,994.68 1,065.86 256350005 LC-Project Fund-Toll 2161571GR9 CHAIT 2014-A8 A8 339,796.00 - (339,840.63) - - (159.37) - 204.00 - - 256350005 LC-Project Fund-Toll 294974BEZ9 WELLS FARGO & CO305,979.00 - (304,842.00) - - (33.17) (866.67) (237.15) - - 256350005 LC-Project Fund-Toll 2912828UR9 UNITED STATES TREASURY - 565,595.90 - - - - (59.22) (5,350.48) 560,186.20 1,431.90 256350005 LC-Project Fund-Toll 2912828UR9 UNITED STATES TREASURY- 565,662.11 - - - - (65.84) (5,410.07) 560,186.20 1,431.90 256350005 LC-Project Fund-Toll 2912828UR9 UNITED STATES TREASURY- 565,617.97 (150,064.45) - - (97.57) (47.16) (3,944.59) 411,464.20 1,051.75 256350005 LC-Project Fund-Toll 2172967GQ8 CITIGROUP INC80,093.60 - (80,115.20) - - 39.91 (17.80) (0.51) - - 256350005 LC-Project Fund-Toll 240428HPQ9 HSBC USA INC144,602.70 - - - - - 66.77 (478.57) 144,190.90 794.28 256350005 LC-Project Fund-Toll 23137A85H7 FH-3820F-GJ182,329.80 - - - (13,011.85) (557.54) (163.03) (1,927.53) 166,669.85 468.20 256350005 LC-Project Fund-Toll 238141GRC0 GOLDMAN SACHS GROUP IN81,044.80 - - - - - (97.00) (256.60) 80,691.20 839.17 256350005 LC-Project Fund-Toll 207330NAG0 BRANCH BANKING AND TRU300,240.00 - (300,342.00) - - 242.43 (9.74) (130.69) - - 256350005 LC-Project Fund-Toll 23137A1LC5 FH-3710F-AB 114,320.22 - - - (11,862.19) (183.53) (113.11) (529.09) 101,632.30 167.52 256350005 LC-Project Fund-Toll 271112KYH8 The Peoples Gas Light and Coke C- 399,982.89 - (400,000.00) - - 17.11 - - - 256350005 LC-Project Fund-Toll 24197915E4 HAWAII ST 300,435.00 - (300,219.00) - - 22.81 (54.64) (184.17) - - 256350005 LC-Project Fund-Toll 2161571GQ1 CHAIT 2014-A7 A7 - 120,510.94 - - - - (40.98) (813.16) 119,656.80 73.60 256350005 LC-Project Fund-Toll 255279HAH3 MANUFACTURERS AND TRA249,762.50 - (249,227.50) - - 248.36 58.61 (841.97) - - 256350005 LC-Project Fund-Toll 238141GEG5 GOLDMAN SACHS GROUP IN49,988.50 - (50,025.50) - - 31.65 1.45 3.90 - - 256350005 LC-Project Fund-Toll 2002799AM6 ABBEY NATIONAL TREASUR299,988.00 - - - - - (117.23) (1,109.77) 298,761.00 1,237.50 256350005 LC-Project Fund-Toll 23137ANLP8 FH-K501-A2 75,241.51 - - - (3,008.80) (17.78) (112.96) (209.43) 71,892.54 98.98 256350005 LC-Project Fund-Toll 23137ANLP8 FH-K501-A2 100,322.02 - - - (4,011.73) (24.28) (153.70) (275.59) 95,856.72 131.98 256350005 LC-Project Fund-Toll 255315GAC2 MMAFEF-15A-A3 246,812.28 - - - - - 75.15 (1,744.87) 245,142.56 143.05 256350005 LC-Project Fund-Toll 238377LN38 GN-10130A-LG 245,077.68 - (226,222.69) - (18,908.08) (1,184.39) (205.95) 1,443.44 0.01 - 256350005 LC-Project Fund-Toll 246849LSL6 JACKSON NATIONAL LIFE GL- 149,922.00 - - - - 5.41 (984.91) 148,942.50 593.75 j()256350005 LC-Project Fund-Toll 238141GVK7 GOLDMAN SACHS GROUP IN191,626.40 - (191,818.30) - - 88.42 (132.46) 235.94 - - 256350005 LC-Project Fund-Toll 2912828UB4 UNITED STATES TREASURY 346,510.50 - (348,099.61) - - 2,938.05 12.44 (1,361.39) - - 256350005 LC-Project Fund-Toll 202582JGS3 AXCMT-142-A 501,890.00 - - - - - (112.03) (2,792.97) 498,985.00 280.00 256350005 LC-Project Fund-Toll 259217GAY5 METLIFE GLOBAL FUNDING 299,517.00 - - - - - 33.91 (1,125.91) 298,425.00 2,137.50 256350005 LC-Project Fund-Toll 23137AH6B9 FH-K015-A1 179,043.65 - - - (9,674.30) (202.14) (267.74) (1,517.56) 167,381.90 311.09 256350005 LC-Project Fund-Toll 2912828RX0 UNITED STATES TREASURY - 1,002,187.50 - - - - (203.55) (1,353.95) 1,000,630.00 24.04 256350005 LC-Project Fund-Toll 2842434CN0 SOUTHERN CALIFORNIA GAS249,677.50 - - - - - 0.58 (575.58) 249,102.50 172.22 256350005 LC-Project Fund-Toll 291476PPG7 UNIVERSITY OKLA REVS - 79,544.00 - - - - 10.05 (31.65) 79,522.40 360.18 256350005 LC-Project Fund-Toll 206538CYH8 The Bank of Tokyo-Mitsubishi UF- 499,986.39 - (500,000.00) - - 13.61 - - - 256350005 LC-Project Fund-Toll 258768WAD1 MBART-131-A4 350,791.00 - - - - - (22.96) (1,072.54) 349,695.50 175.78 256350005 LC-Project Fund-Toll 2553794AA6 MUFG AMERICAS HOLDINGS299,235.00 - - - - - 119.06 (1,976.06) 297,378.00 1,922.92 256350005 LC-Project Fund-Toll 2161571FH2 CHAIT 2012-A2 A2 194,805.00 - (194,870.51) - - (99.76) 3.78 161.49 - - 256350005 LC-Project Fund-Toll 2161571FH2 CHAIT 2012-A2 A2 174,825.00 - (174,883.79) - - (36.16) 10.17 84.78 - - 256350005 LC-Project Fund-Toll 261746BDC7 MORGAN STANLEY 249,507.50 - (249,772.50) - - 70.70 30.94 163.36 - - 256350005 LC-Project Fund-Toll 2822582AZ5 SHELL INTERNATIONAL FINA300,669.00 - - - - - (76.29) (1,357.71) 299,235.00 345.00 256350005 LC-Project Fund-Toll 2912828UZ1 UNITED STATES TREASURY 298,461.00 - - - - - 269.27 (2,585.27) 296,145.00 319.37 256350005 LC-Project Fund-Toll 2912828UZ1 UNITED STATES TREASURY 1,641,535.50 - - - - - 1,872.54 (14,610.54) 1,628,797.50 1,756.52 256350005 LC-Project Fund-Toll 2166754AK7 CHEVRON PHILLIPS CHEMIC299,322.00 - - - - - 31.93 (3,094.93) 296,259.00 850.00 256350005 LC-Project Fund-Toll 202582JGY0 AXCMT-145-A 174,644.75 - (174,453.13) - - (480.18) 3.36 285.19 - - 256350005 LC-Project Fund-Toll 202582JGY0 AXCMT-145-A 359,269.20 - (358,875.00) - - (1,125.00) - 730.80 - - 256350005 LC-Project Fund-Toll 238377UN20 GNR 2011-62 PA 154,202.43 - (134,380.45) - (19,104.22) (1,215.63) (109.70) 607.56 - - 256350005 LC-Project Fund-Toll 2912828UA6 UNITED STATES TREASURY - 799,281.25 - - - - 78.14 (5,983.39) 793,376.00 437.16 256350005 LC-Project Fund-Toll 2912828UA6 UNITED STATES TREASURY 249,545.00 - (79,881.25) - - 214.25 92.84 (1,378.44) 168,592.40 92.90 256350005 LC-Project Fund-Toll 2912828UA6 UNITED STATES TREASURY 119,781.60 - - - - - 61.15 (836.35) 119,006.40 65.57 256350005 LC-Project Fund-Toll 2912828UA6 UNITED STATES TREASURY 374,317.50 - - - - - 180.34 (2,602.84) 371,895.00 204.92 256350005 LC-Project Fund-Toll 2912828UA6 UNITED STATES TREASURY119,781.60 - (119,821.88) - - 600.62 20.99 (581.33) - - 256350005 LC-Project Fund-Toll 23137A2AZ4 FH-K009-A1423,935.73 - - - (11,403.92) (299.86) (1,271.55) (2,680.76) 408,279.65 919.88 256350005 LC-Project Fund-Toll 23136AEYG6 FN-13M9-AQ2230,302.35 - - - (3,423.40) (38.52) (265.35) (3,338.45) 223,236.62 339.29 256350005 LC-Project Fund-Toll 265819WAC7 NORTH CAROLINA EASTN M35,415.80 - - - - - (35.42) (258.58) 35,121.80 294.05 256350005 LC-Project Fund-Toll 265819WAC7 NORTH CAROLINA EASTN M126,485.00 - - - - - - (1,050.00) 125,435.00 1,050.18 256350005 LC-Project Fund-Toll 2446438RR6 HUNTINGTON NATIONAL BA- 249,705.00 - - - - 15.07 (410.07) 249,310.00 840.28 256350005 LC-Project Fund-Toll 2544587B98 LOS ANGELES CALIF MUN IM- 160,000.00 - - - - - 1,545.60 161,545.60 437.55 256350005 LC-Project Fund-Toll 206050TLY6 BANK OF AMERICA NA 299,763.00 - - - - - 92.14 (2,111.14) 297,744.00 1,306.25 256350005 LC-Project Fund-Toll 2233851BF0 DAIMLER FINANCE NORTH A296,160.00 - - - - - 87.28 1,040.72 297,288.00 1,718.75 256350005 LC-Project Fund-Toll 2180848HP1 CLARK CNTY NEV 126,045.60 - - - - - (845.12) (653.68) 124,546.80 2,580.00 256350005 LC-Project Fund-Toll 241283LAB1 HARLEY-DAVIDSON FINANC254,882.50 - - - - - (939.66) (612.84) 253,330.00 1,987.50 256350005 LC-Project Fund-Toll 269353RET1 PNC BANK NA - 249,962.50 - - - - 2.01 (604.51) 249,360.00 725.00 256350005 LC-Project Fund-Toll 23133EECD0 FEDERAL FARM CREDIT BAN900,153.00 - (399,736.00) - - (464.91) (48.30) (1,088.80) 498,815.00 72.02 256350005 LC-Project Fund-Toll 236225FLA5 G2 083020 155,504.05 - - - (6,296.65) (220.51) (48.97) (1,377.91) 147,560.01 209.41 256350005 LC-Project Fund-Toll 217401QAC5 CITIZENS BANK NA - 249,675.00 - - - - 8.34 21.66 249,705.00 447.22 256350005 LC-Project Fund-Toll 291159HHD5 US BANCORP302,685.00 - - - - - (447.87) (1,331.13) 300,906.00 632.50 Page 13 of 3432 Source Account Account Identifier DescriptionBeginning Base Market Value Base Purchases Base SalesBase Maturities and Redemptions Base PaydownsNet Total Realized Gain/LossBase Amortization/AccretionBase Change In Net Unrealized Gain/LossEnding Base Market ValueEnding Accrued Income BalanceSTAMP Portfolio Transaction Report by AccountQuarter ended December 31, 2015256350005 LC-Project Fund-Toll 246623EKD0 JPMORGAN CHASE & CO - 179,884.80 - - - - 8.16 (765.96) 179,127.00 1,020.00 256350005 LC-Project Fund-Toll 246623EKD0 JPMORGAN CHASE & CO 299,319.00 - - - - - 63.06 (837.06) 298,545.00 1,700.00 256350005 LC-Project Fund-Toll 264952WCB7 NEW YORK LIFE GLOBAL FU- 169,756.90 (169,019.10) - - (744.35) 6.55 - - - 256350005 LC-Project Fund-Toll 289837LAA3 PRINCETON UNIVERSITY 193,877.25 - - - - - (1,287.36) (896.64) 191,693.25 2,887.50 256350005 LC-Project Fund-Toll 289837LAA3 PRINCETON UNIVERSITY 493,002.15 - - - - - (3,422.67) (2,130.93) 487,448.55 7,342.50 256350005 LC-Project Fund-Toll 23136A8G38 FN-12M13A-A2 162,326.74 - - - (21,296.72) (79.34) (100.08) (647.36) 140,203.23 145.61 256350005 LC-Project Fund-Toll 2912828VV9 UNITED STATES TREASURY - 162,918.75 - - - - (71.79) (266.16) 162,580.80 1,148.90 256350005 LC-Project Fund-Toll 2912828VV9 UNITED STATES TREASURY - 642,651.37 - - - - (570.46) (6,999.66) 635,081.25 4,487.89 256350005 LC-Project Fund-Toll 2912828VV9 UNITED STATES TREASURY - 330,992.19 - - - - (137.78) (612.16) 330,242.25 2,333.71 256350005 LC-Project Fund-Toll 220030NAP6 COMCAST CORP 320,505.00 - (319,049.00) - - 256.86 (1,989.79) 276.93 - - 256350005 LC-Project Fund-Toll 258772PAC2 MBART-151-A2B389,606.10 - - - - - 1,130.36 (1,032.86) 389,703.60 110.59 256350005 LC-Project Fund-Toll 2912828J84 UNITED STATES TREASURY1,203,624.00 - (1,209,656.25) - - 22,023.34 29.16 (16,020.25) - - 256350005 LC-Project Fund-Toll 2912828J84 UNITED STATES TREASURY601,812.00 - (604,828.13) - - 13,152.54 19.60 (10,156.01) - - 256350005 LC-Project Fund-Toll 269349LAP3 PNC BANK NA300,462.00 - (300,504.00) - - 354.29 (14.34) (297.95) - - 256350005 LC-Project Fund-Toll 23138L1TX7 FN AM1465315,624.47 - - - (1,712.70) (6.40) (192.21) (2,296.46) 311,416.71 428.70 256350005 LC-Project Fund-Toll 297689RAE4 WI MFH VAR-TXB-SER B350,000.00 - (350,000.00) - - - - - - - 256350005 LC-Project Fund-Toll 23133XY2H7 FEDERAL HOME LOAN BANK309,144.76 - - - (17,902.72) (420.32) (1,026.28) (761.59) 289,033.86 251.32 256350005 LC-Project Fund-Toll 259217GBE8 METROPOLITAN LIFE GLOBA299,952.00 - (300,418.50) - - (107.19) (39.58) 613.27 - - 256350005 LC-Project Fund-Toll 23137AHXC7 FH-3952A-MK 88,750.64 - - - (88,611.51) (124.29) (85.02) 70.18 - - 256350005 LC-Project Fund-Toll 249327M2H6 KEYBANK NA - 248,740.00 - - - - 67.64 (557.64) 248,250.00 354.17 256350005 LC-Project Fund-Toll 236225EUY6 G2 082398 145,061.72 - - - (7,663.93) (216.85) (39.34) (232.66) 136,908.95 201.60 256350005 LC-Project Fund-Toll 260689LAC9 MMAFEF-13A-A3 166,059.19 - - - (52,119.77) (21.01) 39.60 (186.54) 113,771.47 71.68 256350005 LC-Project Fund-Toll 290261XHH8 UBS AG (STAMFORD BRANCH249,872.50 - - - - - 57.78 (347.78) 249,582.50 1,187.50 256350005 LC-Project Fund-Toll 2037833AM2 APPLE INC 301,155.00 - - - - - (126.95) (851.05) 300,177.00 481.25 256350005 LC-Project Fund-Toll 231394GH22 FH-2649G-KA 150,558.66 - - - (22,356.95) (769.11) (1,120.67) 377.25 126,689.18 461.24 256350005 LC-Project Fund-Toll 2937308AZ7 WBRP 3.2 WASHINGTON BIO 95,171.00 - - - - - - (703.00) 94,468.00 329.18 256350005 LC-Project Fund-Toll 2532457BK3 ELI LILLY AND CO 299,823.00 - - - - - 100.41 (661.41) 299,262.00 1,250.00 256350005 LC-Project Fund-Toll 238147MAA3 GOLDMAN SACHS GROUP IN- 102,578.00 - - - - (64.59) (558.41) 101,955.00 1,305.00 256350005 LC-Project Fund-Toll 2209111ET6 CONSOLIDATED EDISON COM242,968.00 - - - - - (2,316.77) (2,767.43) 237,883.80 3,217.50 256350005 LC-Project Fund-Toll 2912828K41 UNITED STATES TREASURY 599,580.00 - (599,676.22) - - (338.06) (0.12) 434.40 - - 256350005 LC-Project Fund-Toll 230231GAL6 EXXON MOBIL CORP300,708.00 - - - - - 38.10 (1,223.10) 299,523.00 1,250.63 256350005 LC-Project Fund-Toll 2063679ZT4 BANK OF MONTREAL 304,122.00 - - - - - (710.31) (1,044.69) 302,367.00 2,453.75 j()()256350005 LC-Project Fund-Toll 20258M0DZ9 AMERICAN EXPRESS CREDIT- 149,986.50 - - - - 0.69 (383.19) 149,604.00 437.50 256350005 LC-Project Fund-Toll 221686CAD2 RABOBANK NEDERLAND 308,322.00 - (307,050.00) - - (247.34) (1,180.25) 155.60 - - 256350005 LC-Project Fund-Toll 205522RCR7 BACCT-142-A 124,927.50 - (124,887.70) - - (39.71) 1.98 (2.07) - - 256350005 LC-Project Fund-Toll 2912828VK3 UNITED STATES TREASURY - 132,061.72 - - - - (178.03) (1,371.49) 130,512.20 4.91 256350005 LC-Project Fund-Toll 2912828VK3 UNITED STATES TREASURY - 132,071.88 - - - - (178.92) (1,380.76) 130,512.20 4.91 256350005 LC-Project Fund-Toll 2912828VK3 UNITED STATES TREASURY 182,428.20 - - - - - (183.48) (1,535.52) 180,709.20 6.80 256350005 LC-Project Fund-Toll 2912828VK3 UNITED STATES TREASURY - 132,092.19 - - - - (180.69) (1,399.30) 130,512.20 4.91 256350005 LC-Project Fund-Toll 2912828VK3 UNITED STATES TREASURY 304,047.00 - - - - - (269.20) (2,595.80) 301,182.00 11.33 256350005 LC-Project Fund-Toll 2912828VK3 UNITED STATES TREASURY228,035.25 - (172,423.83) - - 810.52 (91.70) (1,113.54) 55,216.70 2.08 256350005 LC-Project Fund-Toll 2912828VK3 UNITED STATES TREASURY304,047.00 - - - - - (267.23) (2,597.77) 301,182.00 11.33 256350005 LC-Project Fund-Toll 2912828VK3 UNITED STATES TREASURY304,047.00 - - - - - (267.23) (2,597.77) 301,182.00 11.33 256350005 LC-Project Fund-Toll 280851QDA9 CHARLES SCHWAB CORPOR- 71,075.55 - - - - (563.92) (529.38) 69,982.25 1,381.25 256350005 LC-Project Fund-Toll 262888YAA0 NCUAGN-11R1-NTS 235,321.27 - - - (11,275.93) (51.03) (61.54) (115.19) 223,817.58 95.44 256350005 LC-Project Fund-Toll 2064159CQ7 BANK OF NOVA SCOTIA301,587.00 - (301,512.00) - - 223.00 (199.74) (98.26) - - 256350005 LC-Project Fund-Toll 249130TRY4 KENTUCKY HSG CORP HSG R274,612.25 - - - - - 59.63 (714.13) 273,957.75 1,288.38 256350005 LC-Project Fund-Toll 20258M0DN6 AMERICAN EXPRESS CREDIT198,890.00 - (199,004.00) - - (58.26) 58.51 113.75 - - 256350005 LC-Project Fund-Toll 291324PCF7 UNITEDHEALTH GROUP INC 299,691.00 - - - - - (53.99) (519.01) 299,118.00 186.67 256350005 LC-Project Fund-Toll 213063A5D2 CALIFORNIA ST ECONOMIC R323,659.35 - - - - - (4,279.47) 39.57 319,419.45 4,685.63 256350005 LC-Project Fund-Toll 259217GAZ2 METROPOLITAN LIFE GLOBA- 150,199.50 - - - - (8.59) (195.41) 149,995.50 70.31 32,954,243.27 21,141,541.91 (18,895,822.44) (1,175,000.00) (1,049,819.98) 27,751.46 (37,133.92) (189,357.95) 32,776,402.36 116,122.96 256350022 LC-Sr Lien Ob Fund-1 Interest 9AMMF05B2 U.S. Bank Money Market Accoun113,895.31 5,930,612.87 (6,019,016.88) - - - - - 25,491.30 - 256350022 LC-Sr Lien Ob Fund-1 Interest29250BYP0 Encana Corporation - 949,811.32 - (950,000.00) - - 188.68 - - - 256350022 LC-Sr Lien Ob Fund-1 Interest38144LAB6 GOLDMAN SACHS GROUP IN326,022.00 - - - - - (1,391.33) (3,348.67) 321,282.00 6,250.00 256350022 LC-Sr Lien Ob Fund-1 Interest38143USC6 GOLDMAN SACHS GROUP IN605,748.00 - - - - - (2,759.73) (1,464.27) 601,524.00 8,700.00 256350022 LC-Sr Lien Ob Fund-1 Interest31393EXC8 FN-0388E-TH 34,750.96 - - - (4,753.13) (161.42) (254.80) 151.17 29,732.78 107.83 256350022 LC-Sr Lien Ob Fund-1 Interest05565QCC0 BP CAPITAL MARKETS PLC 299,550.00 - - - - - 455.94 (1,766.94) 298,239.00 630.21 256350022 LC-Sr Lien Ob Fund-1 Interest166764AE0 CHEVRON CORP 302,328.00 - - - - - (156.11) (3,704.89) 298,467.00 100.22 256350022 LC-Sr Lien Ob Fund-1 Interest44890NX70 Hyundai Capital America399,988.00 - - (400,000.00) - - 30.67 (18.67) - - 256350022 LC-Sr Lien Ob Fund-1 Interest912828RX0 UNITED STATES TREASURY 954,759.50 - - - - - 365.30 (4,526.30) 950,598.50 22.84 256350022 LC-Sr Lien Ob Fund-1 Interest89236TAY1 TOYOTA MOTOR CREDIT CO505,240.00 - - - - - (432.94) (1,977.06) 502,830.00 1,861.11 256350022 LC-Sr Lien Ob Fund-1 Interest27743KY20 Eastman Chemical Company 499,905.00 - - (500,000.00) - - 200.00 (105.00) - - 256350022 LC-Sr Lien Ob Fund-1 Interest92939BYQ5 WPP PLC - 749,746.88 - (750,000.00) - - 253.12 - - - 256350022 LC-Sr Lien Ob Fund-1 Interest3137B03W2 FH-K502-A2 554,174.50 - (552,019.53) - - (669.07) (346.84) (1,139.06) - - 256350022 LC-Sr Lien Ob Fund-1 Interest43357MYJ3 Hitachi Capital America Corp. - 224,918.44 - (225,000.00) - - 81.56 - - - 256350022 LC-Sr Lien Ob Fund-1 Interest912828UA6 UNITED STATES TREASURY 1,247,725.00 - - - - - 2,024.14 (10,099.14) 1,239,650.00 683.06 256350022 LC-Sr Lien Ob Fund-1 Interest31402RBG3 FN 735439 5,044.27 - - - (914.37) (34.86) (10.89) (6.94) 4,077.21 19.73 256350022 LC-Sr Lien Ob Fund-1 Interest31402RBG3 FN 735439 64,818.88 - - - (11,749.71) (494.30) (152.19) (30.60) 52,392.09 253.50 256350022 LC-Sr Lien Ob Fund-1 Interest78355AAS3 Ryder System, Inc.- 124,939.58 - - - - 8.33 20.84 124,968.75 - 256350022 LC-Sr Lien Ob Fund-1 Interest30231GAL6 EXXON MOBIL CORP420,991.20 - - - - - 43.29 (1,702.29) 419,332.20 1,750.88 256350022 LC-Sr Lien Ob Fund-1 Interest912828K41 UNITED STATES TREASURY199,860.00 - - - - - (0.25) (35.75) 199,824.00 90.66 Page 14 of 3433 Source Account Account Identifier DescriptionBeginning Base Market Value Base Purchases Base SalesBase Maturities and Redemptions Base PaydownsNet Total Realized Gain/LossBase Amortization/AccretionBase Change In Net Unrealized Gain/LossEnding Base Market ValueEnding Accrued Income BalanceSTAMP Portfolio Transaction Report by AccountQuarter ended December 31, 2015256350022 LC-Sr Lien Ob Fund-1 Interest31385JLF3 FN 545826 135,115.24 - - - (26,334.50) (880.89) (563.02) 11.32 107,348.15 524.34 256350022 LC-Sr Lien Ob Fund-1 Interest94974BGF1 WELLS FARGO & CO997,550.00 - - - - - 434.53 (6,744.53) 991,240.00 9,018.06 256350022 LC-Sr Lien Ob Fund-1 Interest3136A8G38 FN-12M13A-A2 718,875.55 - - - (94,314.05) 739.52 677.02 (5,078.01) 620,900.02 644.86 256350022 LC-Sr Lien Ob Fund-1 Interest92939BXU7 WPP PLC 699,909.00 - - (700,000.00) - - 236.25 (145.25) - - 256350022 LC-Sr Lien Ob Fund-1 Interest46625HJL5 JPMORGAN CHASE & CO 496,905.00 - - - - - 206.71 (821.71) 496,290.00 1,038.19 256350022 LC-Sr Lien Ob Fund-1 Interest63307EAB3 NATIONAL BANK OF CANAD912,393.00 - - - - - (3,313.33) (1,132.67) 907,947.00 3,960.00 256350022 LC-Sr Lien Ob Fund-1 Interest912828UZ1 UNITED STATES TREASURY 696,409.00 - - - - - 566.83 (5,970.83) 691,005.00 745.19 256350022 LC-Sr Lien Ob Fund-1 Interest13638XYR5 Canadian Natural Resources Limi- 549,827.82 - (550,000.00) - - 172.18 - - - 256350022 LC-Sr Lien Ob Fund-1 Interest02581RAM5 American Express Credit Corpora- 724,546.88 - - - - 251.73 63.64 724,862.25 - 256350022 LC-Sr Lien Ob Fund-1 Interest891145TN4 TORONTO DOMINION BANK 1,006,670.00 - - - - - (1,438.20) (3,621.80) 1,001,610.00 4,500.00 256350022 LC-Sr Lien Ob Fund-1 Interest48121CYK6 JPMORGAN CHASE BANK NA324,183.00 - - - - - (2,485.26) (949.74) 320,748.00 4,500.00 256350022 LC-Sr Lien Ob Fund-1 Interest407288YD5 HAMILTON SWR-B-REF 630,315.00 - - (630,000.00) - - - (315.00) - - 256350022 LC-Sr Lien Ob Fund-1 Interest912828J84 UNITED STATES TREASURY 551,661.00 - - - - - 416.45 (8,847.95) 543,229.50 1,921.62 256350022 LC-Sr Lien Ob Fund-1 Interest912828J84 UNITED STATES TREASURY 401,208.00 - - - - - 270.56 (6,402.56) 395,076.00 1,397.54 256350022 LC-Sr Lien Ob Fund-1 Interest02580ECC5 AMERICAN EXPRESS BANK L271,012.50 - - - - - (2,311.89) (915.61) 267,785.00 4,500.00 256350022 LC-Sr Lien Ob Fund-1 Interest36162WAC1 GEETT-131-A3 163,468.00 - - - (163,500.70) 22.21 15.80 (5.32) - - 256350022 LC-Sr Lien Ob Fund-1 Interest233851AT1 DAIMLER FINANCE NORTH A500,570.00 - - - - - 203.33 (753.33) 500,020.00 2,951.39 256350022 LC-Sr Lien Ob Fund-1 Interest3136A4M89 FN-12M3B-2A1 179,389.28 - - - (5,045.02) (16.23) (58.77) (1,830.00) 172,439.26 275.60 256350022 LC-Sr Lien Ob Fund-1 Interest3137ASNH3 FH-K019-A1 390,262.48 - - - (12,401.18) 236.37 298.87 (6,999.03) 371,397.51 458.91 256350022 LC-Sr Lien Ob Fund-1 Interest07588MYQ3 Becton, Dickinson and Company - 499,700.00 - (500,000.00) - - 300.00 - - - 256350022 LC-Sr Lien Ob Fund-1 Interest3130A3BD5 FEDERAL HOME LOAN BANK200,120.00 - - (200,000.00) - - (122.81) 2.81 - - 256350022 LC-Sr Lien Ob Fund-1 Interest235219JS2 DALLAS TEX 658,248.50 - - - - - - (3,841.50) 654,407.00 3,901.88 256350022 LC-Sr Lien Ob Fund-1 Interest31393V2T7 FH-2627E-GY 178,159.90 - - - (25,503.59) (876.41) (1,477.80) 926.41 151,228.50 550.64 256350022 LC-Sr Lien Ob Fund-1 Interest78011DAC8 ROYAL BANK OF CANADA 1,000,090.00 - - - - - (118.83) (4,701.17) 995,270.00 3,400.00 256350022 LC-Sr Lien Ob Fund-1 Interest3137ANLP8 FH-K501-A2932,994.78 - (895,650.93) - (35,635.03) 2,485.65 (308.42) (3,886.05) - - 18,580,309.85 9,754,103.79 (7,466,687.34) (5,405,000.00) (380,151.28) 350.58 (10,002.10) (91,711.47) 14,981,212.02 64,758.23 256350023 LC-Sr Lien Reserve Fund-1 9AMMF05B2 U.S. Bank Money Market Accoun97,855.40 490,396.45 (480,028.36) - - - - - 108,223.49 - 256350023 LC-Sr Lien Reserve Fund-1912828B58 UNITED STATES TREASURY 515,975.00 - - - - - (529.84) (8,060.16) 507,385.00 4,446.33 256350023 LC-Sr Lien Reserve Fund-1912828B58 UNITED STATES TREASURY - 117,246.09 - - - - (58.47) (489.07) 116,698.55 1,022.66 256350023 LC-Sr Lien Reserve Fund-1912828B58 UNITED STATES TREASURY - 148,692.97 - - - - (114.57) (1,436.75) 147,141.65 1,289.44 256350023 LC-Sr Lien Reserve Fund-1912828B58 UNITED STATES TREASURY - 743,887.11 - - - - (307.70) (2,797.31) 740,782.10 6,491.64 ,()(, ),,256350023 LC-Sr Lien Reserve Fund-13137AJMF8 FH-K016-A2 31,556.40 - - - - - (43.36) (548.54) 30,964.50 74.19 256350023 LC-Sr Lien Reserve Fund-13135G0D75 FEDERAL NATIONAL MORTG600,000.00 - - - - - 307.88 (7,777.88) 592,530.00 225.00 256350023 LC-Sr Lien Reserve Fund-138376GB33 GN-116-BA 359,163.00 - - - (4,876.58) (93.90) 1,613.07 (5,588.15) 350,217.44 1,006.61 256350023 LC-Sr Lien Reserve Fund-13137A7JU5 FH-K701-A2 341,828.50 - - - - - (1,608.85) (2,768.90) 337,450.75 1,051.38 256350023 LC-Sr Lien Reserve Fund-1912828VV9 UNITED STATES TREASURY - 86,580.47 - - - - (12.27) (197.15) 86,371.05 610.35 256350023 LC-Sr Lien Reserve Fund-138378KRS0 GN-1378-AG 440,181.00 - - - - - (536.00) (5,467.00) 434,178.00 895.72 256350023 LC-Sr Lien Reserve Fund-138378KWU9 GN-1396-A 69,761.33 - - - (501.92) 11.50 (99.77) (1,300.35) 67,870.79 82.13 256350023 LC-Sr Lien Reserve Fund-13138EJ6V5 FN AL2683 131,771.51 - - - (7,343.17) (412.38) (209.94) (297.22) 123,508.79 388.08 256350023 LC-Sr Lien Reserve Fund-13137B03W2 FH-K502-A2 45,341.55 - - - (2,375.03) 2.13 (1.81) (316.72) 42,650.11 50.65 256350023 LC-Sr Lien Reserve Fund-1912828VB3 UNITED STATES TREASURY3,470,180.00 - (1,464,375.00) - - 47,213.32 4,636.91 (109,135.23) 1,948,520.00 4,519.23 256350023 LC-Sr Lien Reserve Fund-13137EADB2 FREDDIE MAC566,450.50 - - - - - 572.66 (9,383.66) 557,639.50 6,095.83 256350023 LC-Sr Lien Reserve Fund-138378B7E3 GN-1333-AC227,266.81 - - - (2,539.64) 94.26 (326.95) (4,428.17) 220,066.30 332.06 256350023 LC-Sr Lien Reserve Fund-138377RVK8 GN-10166F-GP122,411.27 - - - (5,581.47) (97.89) 76.40 (596.65) 116,211.67 281.84 256350023 LC-Sr Lien Reserve Fund-138377RVK8 GN-10166F-GP73,446.76 - - - (3,348.89) (116.80) (56.41) (197.67) 69,727.00 169.10 256350023 LC-Sr Lien Reserve Fund-13136A7MJ8 FN-12M8-AQ2138,634.33 - - - (6,057.03) 52.39 122.43 (1,108.95) 131,643.18 166.34 256350023 LC-Sr Lien Reserve Fund-138378KSL4 GN-1374-AL195,942.00 - - - - - (140.43) (2,273.57) 193,528.00 465.10 256350023 LC-Sr Lien Reserve Fund-138378KSL4 GN-1374-AL220,434.75 - - - - - (71.37) (2,644.38) 217,719.00 523.23 256350023 LC-Sr Lien Reserve Fund-1912828VK3 UNITED STATES TREASURY1,596,246.75 - (1,584,351.56) - - 13,289.14 167.13 (25,351.47) - - 256350023 LC-Sr Lien Reserve Fund-13136A72D3 FN-12M9-A2401,754.50 - - - - - 515.85 (6,251.25) 396,019.10 816.99 256350023 LC-Sr Lien Reserve Fund-138378B6A2 GN-1312A-AB134,722.53 - - - (1,279.03) 36.47 (485.86) (1,150.47) 131,843.64 206.86 256350023 LC-Sr Lien Reserve Fund-13137AQT24 FH-K708-A2173,665.20 - - - - - (71.95) (2,160.15) 171,433.10 301.75 256350023 LC-Sr Lien Reserve Fund-138376WA62 GN-1015C-PD165,221.31 - - - (15,139.77) (754.48) 2,135.36 (3,109.32) 148,353.10 469.74 256350023 LC-Sr Lien Reserve Fund-1912828RC6 UNITED STATES TREASURY- 1,919,742.19 - - - - (429.39) 3,183.20 1,922,496.00 15,250.34 256350023 LC-Sr Lien Reserve Fund-13128MMAK9 FH G18009150,881.99 - - - (16,165.94) (695.99) (233.42) (668.66) 133,117.97 527.94 256350023 LC-Sr Lien Reserve Fund-138377DPX8 GN-10101E-NC30,776.39 - - - (7,397.19) (147.02) (449.94) 468.38 23,250.61 48.17 256350023 LC-Sr Lien Reserve Fund-131395EZP5 FH-2835G-MD100,813.89 - - - (11,684.79) (457.48) (835.92) 593.63 88,429.32 321.10 256350023 LC-Sr Lien Reserve Fund-13136AEYG6 FN-13M9-AQ2147,741.13 - - - (2,196.13) (9.70) (76.64) (2,250.26) 143,208.40 217.65 256350023 LC-Sr Lien Reserve Fund-131394DVM9 FN-0543D-PB177,733.22 - - - (14,212.81) (572.00) 582.94 (1,952.93) 161,578.43 644.86 256350023 LC-Sr Lien Reserve Fund-13137AEV77 FH-K703-A2259,667.03 - - - - - (406.65) (2,803.64) 256,456.74 564.54 256350023 LC-Sr Lien Reserve Fund-138378KXW4 GN-13105-A196,576.49 - - - (1,842.80) 6.96 (167.38) (1,170.78) 193,402.50 278.25 256350023 LC-Sr Lien Reserve Fund-138377JZ89 GN-10117A-GK160,885.54 - - - (12,797.24) (342.58) 171.47 (1,629.87) 146,287.33 412.89 256350023 LC-Sr Lien Reserve Fund-131413XVG5 FN 958815214,210.00 - - - - - (956.79) (4,637.21) 208,616.00 776.03 256350023 LC-Sr Lien Reserve Fund-138379KDN5GN-1529-AD194,164.69 - - - (3,197.19) 79.76 46.46 (2,770.13) 188,323.59 337.31 256350023 LC-Sr Lien Reserve Fund-13136A4M48 FN-12M3A-1A1374,773.02 - - - (11,935.15) (16.89) (44.33) (6,230.17) 356,546.48 619.36 256350023 LC-Sr Lien Reserve Fund-1912828UF5 UNITED STATES TREASURY173,992.00 - - - - - 119.49 (2,432.99) 171,678.50 5.41 256350023 LC-Sr Lien Reserve Fund-1912828UF5 UNITED STATES TREASURY94,452.80 - - - - - 121.06 (1,376.96) 93,196.90 2.94 256350023 LC-Sr Lien Reserve Fund-1912828UF5 UNITED STATES TREASURY228,675.20 - - - - - 101.13 (3,141.73) 225,634.60 7.11 256350023 LC-Sr Lien Reserve Fund-1912828UF5 UNITED STATES TREASURY- 738,398.44 - - - - 337.02 (2,970.46) 735,765.00 23.18 256350023 LC-Sr Lien Reserve Fund-131392JJ83 FN-0317D-HC26,400.00 - - - (3,884.39) (113.17) (186.43) 112.12 22,328.13 90.47 256350023 LC-Sr Lien Reserve Fund-131381PEB0 FN 466430283,650.70 - - - (369.06) (15.77) (1,335.49) (4,917.35) 277,013.02 767.94 256350023 LC-Sr Lien Reserve Fund-13137AUPE3 FH-K021-A2238,146.65 - - - - - 375.27 (4,830.87) 233,691.05 469.22 Page 15 of 3434 Source Account Account Identifier DescriptionBeginning Base Market Value Base Purchases Base SalesBase Maturities and Redemptions Base PaydownsNet Total Realized Gain/LossBase Amortization/AccretionBase Change In Net Unrealized Gain/LossEnding Base Market ValueEnding Accrued Income BalanceSTAMP Portfolio Transaction Report by AccountQuarter ended December 31, 2015256350023 LC-Sr Lien Reserve Fund-138378CRT6 GN-1213E-EG 120,555.13 - - - (6,565.99) 211.78 (67.50) (1,256.21) 112,877.21 190.91 256350023 LC-Sr Lien Reserve Fund-138378XP62 GN-14166-PL 479,137.63 - - - (5,489.92) (66.65) (39.39) (12,486.91) 461,054.76 963.24 256350023 LC-Sr Lien Reserve Fund-13137A7E22 FH-3804A-DA 217,039.59 - - - (19,107.36) (411.65) (1,883.66) 314.41 195,951.34 556.19 256350023 LC-Sr Lien Reserve Fund-138376T5Z1 GN-104A-PD 169,675.10 - - - (7,458.98) (312.51) (50.17) (1,128.37) 160,725.07 389.71 256350023 LC-Sr Lien Reserve Fund-138377RSZ9 GN-10162D-PQ 73,643.46 - - - (7,869.41) (473.81) 60.74 (439.94) 64,921.03 233.27 256350023 LC-Sr Lien Reserve Fund-13137EADR7 FREDDIE MAC 474,567.75 - - - - - 171.40 (7,068.40) 467,670.75 1,088.54 256350023 LC-Sr Lien Reserve Fund-13137EACA5 FREDDIE MAC 870,816.00 - - - - - (3,327.35) (10,960.65) 856,528.00 7,833.33 256350023 LC-Sr Lien Reserve Fund-1912828KQ2 UNITED STATES TREASURY 535,495.00 - - - - - (1,697.23) (6,317.77) 527,480.00 2,017.51 256350023 LC-Sr Lien Reserve Fund-131404WTT3 FN 78096280,618.84 - - - (7,015.51) (515.57) (417.20) 911.60 73,582.16 265.09 256350023 LC-Sr Lien Reserve Fund-138378BX20 GN-12132-AB69,616.68 - - - (535.96) 10.97 (201.86) (1,119.83) 67,770.00 72.70 256350023 LC-Sr Lien Reserve Fund-131417YKF3 FN MA0293160,630.37 - - - (8,231.93) (459.09) (118.35) (1,555.00) 150,266.01 521.74 256350023 LC-Sr Lien Reserve Fund-131385XBG1 FN 55543916,344.83 - - - (3,335.79) (104.76) (63.39) (8.15) 12,832.74 62.69 256350023 LC-Sr Lien Reserve Fund-131416YXJ2 FN AB338066,396.86 - - - (2,675.38) (107.41) (138.99) (537.12) 62,937.96 174.79 256350023 LC-Sr Lien Reserve Fund-1912833KR0 UNITED STATES TREASURY371,393.00 - (369,614.60) - - 3,527.85 626.27 (5,932.52) - - 256350023 LC-Sr Lien Reserve Fund-13137ASNH3 FH-K019-A1390,262.48 - - - (12,401.18) 202.00 251.82 (6,917.61) 371,397.51 458.91 256350023 LC-Sr Lien Reserve Fund-13137B6ZL8 FH-K714-A148,856.09 - - - (2,477.57) (32.13) (42.81) (352.14) 45,951.44 78.75 256350023 LC-Sr Lien Reserve Fund-131418AFW3 FN MA1080233,588.26 - - - (16,103.76) (404.92) (6.35) (3,336.93) 213,736.30 517.91 256350023 LC-Sr Lien Reserve Fund-138379C2M7 GN-1496E-WA51,820.59 - - - (2,068.45) (97.62) 141.90 (385.00) 49,411.42 68.89 256350023 LC-Sr Lien Reserve Fund-13138L33G8 FN AM3498- 99,875.00 - - - - (0.07) (302.93) 99,572.00 173.08 256350023 LC-Sr Lien Reserve Fund-138378B7F0 GN-1333-B191,218.00 - - - - - (214.43) (2,591.57) 188,412.00 378.83 256350023 LC-Sr Lien Reserve Fund-138378B7F0 GN-1333-B239,022.50 - - - - - (444.43) (3,063.07) 235,515.00 473.54 256350023 LC-Sr Lien Reserve Fund-138378TAF7 GN-1371A-GA244,141.46 - - - (9,417.55) 3.95 (7.60) (2,735.06) 231,985.20 474.81 256350023 LC-Sr Lien Reserve Fund-1912828TJ9 UNITED STATES TREASURY490,812.30 - - - - - 873.51 (9,545.91) 482,139.90 3,038.26 256350023 LC-Sr Lien Reserve Fund-13130A6G92 FEDERAL HOME LOAN BANK100,000.00 - (99,996.00) - - (8.18) (0.60) 4.78 - - 18,869,003.09 4,344,818.72 (3,998,365.52) - (245,479.96) 57,902.08 (4,391.15) (321,073.09) 18,702,414.17 73,379.67 221,656,572.75 283,733,435.81 (145,439,622.22) (168,105,000.00) (3,635,943.25) 79,217.32 (24,105.93) (915,618.56) 187,859,852.74 404,699.10 Page 16 of 3435 STAMP Portfolio Summary of Investments for quarter ended December 31, 2015Credit RatingIndustry GroupAsset ClassSecurity TypeMarket Sector*Negative cash reflects securities in transit at month endATTACHMENT 536 STAMP PortfolioToll Revenue Project Senior Lien Fund Summary of Investments for quarter ended December 31, 2015Credit RatingIndustry GroupAsset ClassSecurity TypeMarket SectorATTACHMENT 637 STAMP PortfolioToll Revenue Project Sales Tax Revenue Fund Summary of Investments for quarter ended December 31, 2015Credit RatingIndustry GroupAsset ClassSecurity TypeMarket SectorATTACHMENT 738 STAMP PortfolioSeries A & Series B Reserve Fund Summary of Investments for quarter ended December 31, 2015Credit RatingIndustry GroupAsset ClassSecurity TypeMarket SectorATTACHMENT 839 STAMP PortfolioToll Revenue Project Capitalized Interest Fund Summary of Investments for quarter ended December 31, 2015Credit RatingIndustry GroupAsset ClassSecurity TypeMarket SectorATTACHMENT 940 STAMP PortfolioSales Tax Revenue Capitalized Interest Fund Summary of Investments for quarter ended December 31, 2015Credit RatingIndustry GroupAsset ClassSecurity TypeMarket SectorATTACHMENT 1041 STAMP PortfolioSales Tax Equity Fund Summary of Investments for quarter ended December 31, 2015Credit RatingIndustry GroupAsset ClassSecurity TypeMarket Sector*Negative cash reflects securities in transit at month endATTACHMENT 1142 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMMCUSIPSecurity Type Category Issuer Final Maturity Trade DateNext Call Date Original CostBase Market ValueUnrealized Gain/LossAccrued Income Coupon YieldCredit Rating037833AG5 CreditAPPLE INC 0.56232% 5/03/1805/03/2018 05/03/2013250,544.85 249,477.50 (1,067.35) 230.40 0.580 0.564 AA+037833AH3 CreditAPPLE INC 0.450% 5/03/1605/03/2016 05/03/2013500,062.61 499,825.00 (237.61) 362.50 0.450 0.450 AA+037833BB5 CreditAPPLE INC 0.900% 5/12/1705/12/2017 05/13/2015119,917.20 119,629.20 (288.00) 144.00 0.900 0.903 AA+06406HCK3 CreditBANK OF NY MTN 0.772% 3/06/1803/06/2018 03/06/2013751,015.44 749,745.00 (1,270.44) 418.17 0.890 0.772 A084664CD1 CreditBERKSHIRE HATHAWAY 0.6275% 1/12/18 01/12/2018 01/15/2015250,470.75 249,430.00 (1,040.75) 332.79 0.620 0.629 AA084670BH0 CreditBERKSHIRE HATHAWAY 1.550% 2/09/18 02/09/2018 02/11/2013503,168.99 500,815.00 (2,353.99) 3,056.94 1.550 1.547 AA13063BN73 Taxable Muni CALIFORNIA ST VAR 1.050% 2/01/16 02/01/2016 03/27/2013500,282.28 500,195.00 (87.28) 2,187.50 1.050 1.050 AA-13063CFD7 Taxable Muni CALIFORNIA ST 1.250% 11/01/1611/01/2016 11/05/2013351,450.46 351,421.00 (29.46) 729.17 1.250 1.245 AA-161571GS7 Asset-Backed CHASE ISSUANCE TRU 0.67218% 2/18/20 02/18/2020 03/13/2015750,099.35 748,582.50 (1,516.85) 177.00 0.650 0.673 AAA166764AK6 CreditCHEVRON CORP 0.45355% 11/15/17 11/15/2017 11/18/2014250,107.83 248,832.50 (1,275.33) 141.73 0.530 0.456 AA166764AV2 CreditCHEVRON CORP 1.365% 3/02/1803/02/2018 03/03/2015499,970.00 496,000.00 (3,970.00) 2,256.04 1.370 1.376 AA17275RAU6 CreditCISCO SYSTEMS INC 1.650% 6/15/18 06/15/2018 06/17/2015399,932.00 401,672.00 1,740.00 293.33 1.650 1.643 AA-17305EFN0 Asset-Backed CITIBANK CREDIT CARD 1.020% 2/22/19 02/22/2019 03/05/2014698,523.44 698,320.00 (203.44) 2,558.50 1.020 1.022 AAA191216BR0 CreditCOCA COLA CO THE 0.875% 10/27/17 10/27/2017 10/27/201555,975.36 55,791.12 (184.24) 87.11 0.880 0.878 AA19416QDU1 CreditCOLGATE PALM MTN 2.625% 5/01/17 05/01/2017 05/04/2011516,441.89 515,120.20 (1,321.69) 2,209.38 2.630 2.573 AA-20772JZR6 Tax-Exempt CONNECTICUT ST SER 3.000% 3/15/17 03/15/2017 03/25/2015462,841.57 462,154.50 (687.07) 3,975.00 3.000 2.921 AA263901AE0 CreditDUKE ENERGY INDIAN 0.68448% 7/11/16 07/11/2016 07/11/2013750,407.27 750,000.00 (407.27) 1,054.76 0.670 0.684 A30231GAL6 CreditEXXON MOBIL 1.305% 3/06/1803/06/2018 03/06/2015460,000.00 459,268.60 (731.40) 1,917.63 0.670 1.307 AAA3130A5EP0 Agencies F H L B 0.625% 5/30/1705/30/2017 05/15/2015999,170.00 995,320.00 (3,850.00) 538.19 1.310 0.628 AA+3130A62S5 Agencies F H L B 0.750% 8/28/1708/28/2017 07/24/20151,027,692.80 1,024,839.70 (2,853.10) 2,639.38 0.630 0.754 AA+3130A6LZ8 Agencies F H L B DEB 0.625% 10/26/1710/26/2017 10/09/2015748,372.50 743,287.50 (5,085.00) 846.35 0.750 0.631 AA+3133EEWS5 Agencies F F C B DEB 0.283% 1/02/1801/02/2018 04/02/2015699,961.01 698,334.00 (1,627.01) 165.08 0.630 0.284 AA+3134G72P5 Agencies F H L M C 1.200% 10/29/1810/29/2018 10/29/2015 01/29/2016 500,000.00 496,350.00 (3,650.00) 1,033.33 0.280 1.209 AA+3135G0E58 Agencies F N M A DEB 1.125% 10/19/1810/19/2018 09/01/2015529,141.40 526,618.60 (2,522.80) 1,192.50 1.200 1.132 AA+Payden & Rygel Operating Portfolio by Investment Category for Quarter ended December 31, 20153135G0E58AgenciesF N M A DEB 1.125% 10/19/1810/19/201809/01/2015529,141.40 526,618.60 (2,522.80) 1,192.50 1.2001.132AA+3136AMTM1 Mortgage-Backed F N M A GTD REMIC 0.3845% 9/25/18 09/25/2018 03/01/2015465,881.36 465,488.19 (393.17) 36.63 1.130 0.423 N/A3137BLVY1 Mortgage-Backed F H L M C MLTCL MTG 1.639% 10/25/19 10/25/2019 11/01/2015193,232.32 192,660.47 (571.85) 264.59 0.400 1.648 N/A3137EADV8 Agencies F H L M C 0.750% 7/14/1707/14/2017 05/29/2015799,376.00 795,656.00 (3,720.00) 3,533.33 1.640 0.754 AA+3137EADX4 Agencies F H L M C 1.000% 12/15/1712/15/2017 12/11/2015819,155.40 817,810.60 (1,344.80) 455.56 0.750 1.003 AA+31680GAB2 Asset-Backed FIFTH THIRD AUTO TRU 1.020% 5/15/18 05/15/2018 11/05/2015159,995.63 159,616.00 (379.63) 72.53 1.000 1.022 N/A31846V203 CashFIRST AMER GOVT OBLIG FUND CL Y94,115.47 94,115.47 - 2.68 1.020 0.00636159LCN4 Asset-Backed GE DEALER FLOORPLA 0.8521% 10/20/19 10/20/2019 10/21/2014750,429.05 748,642.50 (1,786.55) 213.03 0.850 0.854 N/A36962G2G8 CreditGEN ELEC CAP CRP MTN 5.400% 2/15/17 02/15/2017 02/13/2007109,113.28 108,725.76 (387.52) 2,121.60 5.400 5.165 AA+36962G3H5 CreditGEN ELEC CAP CRP MTN 5.625% 9/15/17 09/15/2017 09/24/2007536,931.93 533,135.00 (3,796.93) 8,281.25 5.630 5.275 AA+459200HZ7 CreditIBM CORP 1.125% 2/06/1802/06/2018 02/06/2015258,804.00 258,258.00 (546.00) 1,178.13 1.130 1.133 AA-47787UAB9 Asset-Backed JOHN DEERE OWNER 0.870% 2/15/18 02/15/2018 03/11/2015453,910.22 453,340.26 (569.96) 175.52 0.870 0.871 N/A47787VAC5 Asset-Backed JOHN DEERE OWNER 0.920% 4/16/18 04/16/2018 04/09/2014709,126.47 707,802.48 (1,323.99) 290.03 0.920 0.922 N/A48125LRD6 CreditJP MORGAN CHASE MTN 0.736% 6/14/17 06/14/2017 06/19/2015750,000.00 747,037.50 (2,962.50) 276.00 0.900 0.739 A+54473ERP1 Taxable Muni LOS ANGELES CNTY CA 1.507% 12/01/17 12/01/2017 09/02/201525,000.00 24,945.75 (54.25) 31.40 1.510 1.510 AA54473ERQ9 Taxable Muni LOS ANGELES CNTY CA 2.036% 12/01/18 12/01/2018 09/02/201550,000.00 50,085.00 85.00 84.83 2.040 2.033 AA58933YAH8 CreditMERCK CO INC 0.6162% 5/18/1805/18/2018 05/20/2013752,100.01 750,562.50 (1,537.51) 564.85 0.720 0.616 AA594918BF0 CreditMICROSOFT CORP 1.300% 11/03/18 11/03/2018 11/03/2015249,750.00 249,555.00 (195.00) 523.61 1.300 1.302 AAA6055806F1 Taxable Muni MISSISSIPPI ST SER D 3.381% 11/01/18 11/01/2018 11/10/2010105,247.27 105,443.00 195.73 563.50 3.380 3.206 AA650119AD2 Taxable Muni NEW YORK UNIVERSITY 0.898% 7/01/17 07/01/2017 04/16/2015200,000.00 198,962.00 (1,038.00) 1,272.17 0.900 0.903 AA-650119AE0 Taxable Muni NEW YORK UNIVERSITY 1.315% 7/01/18 07/01/2018 04/16/2015120,000.00 119,191.20 (808.80) 1,117.75 1.320 1.324 AA-702282ND2 Taxable Muni PASADENA CA UNIF 1.861% 11/01/18 11/01/2018 03/20/2014251,693.09 251,882.50 189.41 775.42 1.860 1.847 A+717081DD2 CreditPFIZER INC 0.900% 1/15/1701/15/2017 06/03/2013500,810.59 499,020.00 (1,790.59) 2,075.00 0.900 0.902 AA717081DP5 CreditPFIZER INC 0.46539% 5/15/1705/15/2017 05/15/2014250,011.87 249,455.00 (556.87) 151.90 0.510 0.466 AA89113EX84 Money Markets TORONTO DOMINION C D 0.740% 5/17/16 05/17/2016 12/18/2015499,999.97 500,145.00 145.03 143.89 0.740 0.74089237CAD3 Asset-Backed TOYOTA AUTO RECEIV 1.270% 5/15/19 05/15/2019 06/17/2015499,972.95 497,845.00 (2,127.95) 282.22 1.270 1.275 AAA90331HMD2 CreditUS BANK NA MTN 0.5519% 1/30/17 01/30/2017 01/30/2014 12/30/2016 250,109.90 249,887.50 (222.40) 241.46 0.550 0.552 AA-90331HMQ3 CreditUS BANK NA MTN 1.350% 1/26/1801/26/2018 01/27/2015 12/26/2017 500,685.37 498,290.00 (2,395.37) 2,906.25 1.350 1.355 AA-912828D98 Treasuries U S TREASURY NT 1.000% 9/15/1709/15/2017 09/15/20142,484,291.40 2,478,536.80 (5,754.60) 7,358.24 1.000 1.001 N/A912828G20 Treasuries U S TREASURY NT 0.875% 11/15/1711/15/2017 11/15/20141,626,116.02 1,624,327.60 (1,788.42) 1,841.59 0.880 0.878 N/A912828G46 Treasuries U S TREASURY NT 0.500% 11/30/1611/30/2016 12/01/20141,298,476.56 1,296,542.00 (1,934.56) 568.31 0.500 0.501 N/A912828H37 Treasuries U S TREASURY NT 0.875% 1/15/1801/15/2018 01/15/20152,005,797.27 2,005,872.05 74.78 8,144.87 0.880 0.879 N/AATTACHMENT 1243 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMMCUSIPSecurity Type Category Issuer Final Maturity Trade DateNext Call Date Original CostBase Market ValueUnrealized Gain/LossAccrued Income Coupon YieldCredit RatingPayden & Rygel Operating Portfolio by Investment Category for Quarter ended December 31, 2015912828H78 Treasuries U S TREASURY NT 0.500% 1/31/1701/31/2017 02/02/20152,146,934.56 2,142,109.50 (6,546.75) 4,498.64 0.500 0.502 N/A912828H94 Treasuries U S TREASURY NT 1.000% 2/15/1802/15/2018 02/17/20153,271,567.41 3,249,828.80 (21,738.61) 12,313.59 1.000 1.003 N/A912828K25 Treasuries U S TREASURY NT 0.750% 4/15/1804/15/2018 04/15/20151,241,556.92 1,237,887.50 (3,669.42) 1,997.95 0.750 0.757 N/A912828L40 Treasuries U S TREASURY NT 1.000% 9/15/1809/15/2018 09/15/2015913,396.06 903,529.90 (9,866.16) 2,700.00 1.000 1.007 N/A912828M72 Treasuries U S TREASURY NT 0.875% 11/30/1711/30/2017 11/30/2015957,606.31 957,225.60 (380.71) 734.43 0.880 0.878 N/A912828N55 Treasuries U S TREASURY NT 1.000% 12/31/1712/31/2017 12/31/20151,313,546.44 1,313,356.25 (190.19) 36.13 1.000 1.001 N/A912828SS0 Treasuries U S TREASURY NT 0.875% 4/30/1704/30/2017 04/30/20122,282,874.67 2,276,020.89 (6,853.78) 3,393.61 0.880 0.875 N/A912828TS9 Treasuries U S TREASURY NT 0.625% 9/30/1709/30/2017 10/01/20122,499,174.23 2,481,731.91 (17,442.32) 3,968.70 0.630 0.629 N/A912828UA6 Treasuries U S TREASURY NT 0.625% 11/30/1711/30/2017 11/30/20122,023,823.43 2,023,108.80 (714.63) 1,114.75 0.630 0.630 N/A912828WT3 Treasuries U S TREASURY NT 0.875% 7/15/1707/15/2017 07/15/20141,002,560.17 998,320.00 (4,240.17) 4,042.12 0.880 0.876 N/A91412GWU5 Taxable Muni UNIV CALIFORNIA CA 1.418% 5/15/18 05/15/2018 03/25/2015250,000.00 250,212.50 212.50 452.97 1.420 1.417 AA91412GWV3 Taxable Muni UNIV OF CA 2.003% 5/15/1905/15/2019 03/25/2015250,000.00 250,595.00 595.00 639.85 2.000 1.998 AA92867VAB6 Asset-Backed VOLKSWAGEN AUTO 0.870% 6/20/17 06/20/2017 03/05/2015184,565.70 184,392.83 (172.86) 49.11 0.870 0.872 N/A931142DE0 CreditWAL MART STORES INC 0.600% 4/11/16 04/11/2016 04/11/2013319,155.45 318,987.24 (168.21) 425.33 0.600 0.600 AA94974BFK1 CreditWELLS FARGO MTN 0.9241% 4/23/18 04/23/2018 04/23/2013502,118.58 499,695.00 (2,423.58) 898.43 0.950 0.925 A94974BFW5 CreditWELLS FARGO COM MTN 1.150% 6/02/17 06/02/2017 06/03/2014500,330.41 498,115.00 (2,215.41) 463.19 1.150 1.154 A977100AU0 Taxable Muni WISCONSIN ST 5.050% 5/01/1805/01/2018 04/01/2008217,112.09 216,554.00 (558.09) 1,683.33 5.050 4.664 AA50,222,004.83 50,075,535.77 (148,190.74) 113,507.05 44 Account Number: 001050990415Name: RIVERSIDE COUNTY TRANS COMMTransaction Date Trade DateSettlement Date CUSIP DescriptionUnits Price Commissions SEC FeesMiscellaneous Fees Net Cash AmountFederal Tax Cost AmountShort Term Gain/Loss AmountLong Term Gain/Loss Amount10/01/201531846V203INTEREST EARNED ON FIRST AMER GOVT OBLIG FUND CL Y UNIT ON 0.0000 SHARES DUE 9/30/2015 INTEREST FROM 9/1/15 TO 9/30/15- - - - - 0.53 - - - 10/02/20153133EEWS5INTEREST EARNED ON F F C B DEB 0.23855% 1/02/18 $1 PV ON 700000.0000 SHARES DUE 10/2/2015- - - - - 139.15 - - - 10/02/2015 10/02/2015 10/02/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(222,992.71) 1.00 - - - 222,992.71 (222,992.71) - - 10/02/201510/02/2015 977100AU0PAID ACCRUED INTEREST ON PURCHASE OF WISCONSIN ST 5.050% 5/01/18- - - - - (4,236.39) - - - 10/02/2015 09/29/2015 10/02/2015 977100AU0PURCHASED PAR VALUE OF WISCONSIN ST 5.050% 5/01/18 /PERSHING LLC/200,000 PAR VALUE AT 109.448 %200,000.00 1.09 - - - (218,896.00) 218,896.00 - - 10/05/2015 10/05/2015 10/05/2015 3134G3N55 FULL CALL PAR VALUE OF F H L M C M T N 1.100% 10/05/17 /CALLS/ (500,000.00) 1.00 - - - 500,000.00 (499,980.99) 19.01 - 10/05/20153134G3N55ACCREDITED DISCOUNT ON F H L M C M T N 1.100% 10/05/17 CURRENT YEAR MARKET DISCOUNT- - - - - - 30.99 - - 10/05/20153134G3N55INTEREST EARNED ON F H L M C M T N 1.100% 10/05/17 $1 PV ON 500000.0000 SHARES DUE 10/5/2015- - - - - 2,750.00 - - - 10/05/2015 10/05/2015 10/05/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y502,750.00 1.00 - - - (502,750.00) 502,750.00 - - 10/06/2015 10/06/2015 10/06/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(784,685.16) 1.00 - - - 784,685.16 (784,685.16) - - 10/06/201510/06/2015 912828L40PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 1.000% 9/15/18- - - - - (450.00) - - - 10/06/2015 10/02/2015 10/06/2015 912828L40PURCHASED PAR VALUE OF U S TREASURY NT 1.000% 9/15/18 /NOMURA SECURITIES/FIX INCOME/780,000 PAR VALUE AT 100.54296923 %780,000.00 1.01 - - - (784,235.16) 784,235.16 - - 10/09/2015 10/08/2015 10/09/2015 3130A6LZ8PURCHASED PAR VALUE OF F H L B DEB 0.625% 10/26/17 /CITIGROUP GLOBAL MARKETS INC./750,000 PAR VALUE AT 99.783 % 750,000.00 1.00 - - - (748,372.50) 748,372.50 - - 10/09/2015 10/09/2015 10/09/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y1,792.96 1.00 - - - (1,792.96) 1,792.96 - - 10/09/201510/09/2015 459200HZ7RECEIVED ACCRUED INTEREST ON SALE OF IBM CORP 1.125% 2/06/18- - - - - 196.88 - - - 10/09/2015 10/06/2015 10/09/2015 459200HZ7SOLD PAR VALUE OF IBM CORP 1.125% 2/06/18 /WELLS FARGO SECURITIES, LLC/XOTC 100,000 PAR VALUE AT 99.945 %(100,000.00) 1.00 - - - 99,945.00 (99,540.00) 405.00 - RECEIVED ACCRUED INTEREST ON SALE OF IBM CORP 1 125%Payden & Rygel Operating Portfolio Transaction ReportQuarter ended December 31, 201510/09/201510/09/2015 459200HZ7RECEIVED ACCRUED INTEREST ON SALE OF IBM CORP 1.125% 2/06/18- - - - - 275.63 - - - 10/09/2015 10/06/2015 10/09/2015 459200HZ7SOLD PAR VALUE OF IBM CORP 1.125% 2/06/18 /WELLS FARGO SECURITIES, LLC/XOTC 140,000 PAR VALUE AT 99.945 %(140,000.00) 1.00 - - - 139,923.00 (139,356.00) 567.00 - 10/09/201510/09/2015 912828D64RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.500% 8/31/16- - - - - 401.79 - - - 10/09/2015 10/08/2015 10/09/2015 912828D64SOLD PAR VALUE OF U S TREASURY NT 0.500% 8/31/16 /DEUTSCHE BANK SECURITIES, INC./750,000 PAR VALUE AT 100.155915 %(750,000.00) 1.00 - - - 751,169.36 (750,457.86) 711.50 - 10/09/2015912828D64AMORTIZED PREMIUM ON U S TREASURY NT 0.500% 8/31/16 CURRENT YEAR AMORTIZATION- - - - - - (225.97) - - 10/09/201510/09/2015 912828H94PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 1.000% 2/15/18- - - - - (358.70) - - - 10/09/2015 10/07/2015 10/09/2015 912828H94PURCHASED PAR VALUE OF U S TREASURY NT 1.000% 2/15/18 /NOMURA SECURITIES/FIX INCOME/240,000 PAR VALUE AT 100.578125 % 240,000.00 1.01 - - - (241,387.50) 241,387.50 - - 10/13/2015084664CD1AMORTIZED PREMIUM ON BERKSHIRE HATHAWAY 0.59902% 1/12/18 CURRENT YEAR AMORTIZATION- - - - - - (57.40) - - 10/13/2015084664CD1INTEREST EARNED ON BERKSHIRE HATHAWAY 0.59902% 1/12/18 $1 PV ON 250000.0000 SHARES DUE 10/13/2015- - - - - 374.39 - - - 10/13/2015 10/13/2015 10/13/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y1,331.39 1.00 - - - (1,331.39) 1,331.39 - - 10/13/2015931142DE0AMORTIZED PREMIUM ON WAL MART STORES INC 0.600% 4/11/16 CURRENT YEAR AMORTIZATION- - - - - - (279.54) - - 10/13/2015931142DE0INTEREST EARNED ON WAL MART STORES INC 0.600% 4/11/16 $1 PV ON 319000.0000 SHARES DUE 10/11/2015- - - - - 957.00 - - - 10/15/2015161571GS7AMORTIZED PREMIUM ON CHASE ISSUANCE TRU 0.52655% 2/18/20 CURRENT YEAR AMORTIZATION- - - - - - (27.63) - - 10/15/2015161571GS7INTEREST EARNED ON CHASE ISSUANCE TRU 0.52655% 2/18/20 $1 PV ON 329.0900 SHARES DUE 10/15/2015 $0.00044/PV ON 750,000.00 PV DUE 10/15/15- - - - - 329.09 - - - 10/15/2015 10/15/2015 10/15/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y5,545.76 1.00 - - - (5,545.76) 5,545.76 - - 10/15/2015 10/15/2015 10/15/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y52,344.60 1.00 - - - (52,344.60) 52,344.60 - - 10/15/201547787UAB9INTEREST EARNED ON JOHN DEERE OWNER 0.870% 2/15/18 $1 PV ON 490000.0000 SHARES DUE 10/15/2015- - - - - 355.25 - - - 10/15/2015 10/15/2015 10/15/2015 47787VAC5 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 0.920% 4/16/18(51,079.35) 2.68 - - - 51,079.35 (51,065.38) 13.97 - 10/15/201547787VAC5INTEREST EARNED ON JOHN DEERE OWNER 0.920% 4/16/18 $1 PV ON 575.0000 SHARES DUE 10/15/2015 $0.00077/PV ON 750,000.00 PV DUE 10/15/15- - - - - 575.00 - - - 10/15/201589231TAD2INTEREST EARNED ON TOYOTA AUTO 1.440% 6/17/19 $1 PV ON 300000.0000 SHARES DUE 10/15/2015- - - - - 335.00 - - - Page 26 of 34ATTAHCMENT 1345 Account Number: 001050990415Name: RIVERSIDE COUNTY TRANS COMMTransaction Date Trade DateSettlement Date CUSIP DescriptionUnits Price Commissions SEC FeesMiscellaneous Fees Net Cash AmountFederal Tax Cost AmountShort Term Gain/Loss AmountLong Term Gain/Loss AmountPayden & Rygel Operating Portfolio Transaction ReportQuarter ended December 31, 201510/15/201589237CAD3INTEREST EARNED ON TOYOTA AUTO RECEIV 1.270% 5/15/19 $1 PV ON 529.1700 SHARES DUE 10/15/2015 $0.00106/PV ON 500,000.00 PV DUE 10/15/15- - - - - 529.17 - - - 10/15/2015912828K25INTEREST EARNED ON U S TREASURY NT 0.750% 4/15/18 $1 PV ON 1250000.0000 SHARES DUE 10/15/2015- - - - - 4,687.50 - - - 10/19/20153135G0E58INTEREST EARNED ON F N M A DEB 1.125% 10/19/18 $1 PV ON 530000.0000 SHARES DUE 10/19/2015- - - - - 795.00 - - - 10/19/2015 10/19/2015 10/19/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y795.00 1.00 - - - (795.00) 795.00 - - 10/20/2015263901AE0AMORTIZED PREMIUM ON DUKE ENERGY INDIAN 0.63285% 7/11/16 CURRENT YEAR AMORTIZATION- - - - - - (191.71) - - 10/20/2015263901AE0INTEREST EARNED ON DUKE ENERGY INDIAN 0.63285% 7/11/16 $1 PV ON 750000.0000 SHARES DUE 10/11/2015- - - - - 1,219.00 - - - 10/20/2015 10/20/2015 10/20/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y14,571.58 1.00 - - - (14,571.58) 14,571.58 - - 10/20/2015 10/20/2015 10/20/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y402.38 1.00 - - - (402.38) 402.38 - - 10/20/201536159LCN4INTEREST EARNED ON GE DEALER FLOORPLA 0.6438% 10/20/19 $1 PV ON 402.3800 SHARES DUE 10/20/2015 $0.00054/PV ON 750,000.00 PV DUE 10/20/15- - - - - 402.38 - - - 10/20/201536159LCN4AMORTIZED PREMIUM ON GE DEALER FLOORPLA 0.6438% 10/20/19 CURRENT YEAR AMORTIZATION- - - - - - (15.91) - - 10/20/2015 10/20/2015 10/20/2015 92867VAB6 PAID DOWN PAR VALUE OF VOLKSWAGEN AUTO 0.870% 6/20/17(13,187.84) 165.89 - - - 13,187.84 (13,174.86) 12.98 - 10/20/201592867VAB6INTEREST EARNED ON VOLKSWAGEN AUTO 0.870% 6/20/17 $1 PV ON 164.7400 SHARES DUE 10/20/2015 $0.00073/PV ON 227,219.35 PV DUE 10/20/15- - - - - 164.74 - - - 10/23/2015 10/23/2015 10/23/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y1,640.62 1.00 - - - (1,640.62) 1,640.62 - - 10/23/201510/23/2015 912828D98RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.000% 9/15/17- - - - - 2,589.01 - - - 10/23/2015 10/21/2015 10/23/2015 912828D98SOLD PAR VALUE OF U S TREASURY NT 1.000% 9/15/17 /J.P. MORGAN SECURITIES LLC/2,480,000 PAR VALUE AT 100.727724 %(2,480,000.00) 1.01 - - - 2,498,047.56 (2,484,774.68) 13,272.88 - 10/23/2015912828D98AMORTIZED PREMIUM ON U S TREASURY NT 1.000% 9/15/17 CURRENT YEAR AMORTIZATION(530 88)10/23/2015912828D98CURRENT YEAR AMORTIZATION- - - - - - (530.88) - - 10/23/201510/23/2015 912828TS9PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.625% 9/30/17- - - - - (981.51) - - - 10/23/2015 10/21/2015 10/23/2015 912828TS9PURCHASED PAR VALUE OF U S TREASURY NT 0.625% 9/30/17 /J.P. MORGAN SECURITIES LLC/2,499,000 PAR VALUE AT 100.00781232 % 2,499,000.00 1.00 - - - (2,499,195.23) 2,499,195.23 - - 10/23/201594974BFK1AMORTIZED PREMIUM ON WELLS FARGO MTN 0.9241% 4/23/18 CURRENT YEAR AMORTIZATION- - - - - - (226.80) - - 10/23/201594974BFK1INTEREST EARNED ON WELLS FARGO MTN 0.9241% 4/23/18 $1 PV ON 500000.0000 SHARES DUE 10/23/2015- - - - - 1,180.79 - - - 10/26/20153130A6LZ8INTEREST EARNED ON F H L B DEB 0.625% 10/26/17 $1 PV ON 750000.0000 SHARES DUE 10/26/2015- - - - - 221.35 - - - 10/26/2015 10/25/2015 10/26/2015 3136AMTM1 PAID DOWN PAR VALUE OF F N M A GTD REMIC 0.3845% 9/25/18(473.72) 43,507.26 - - - 473.72 (473.60) 0.12 - 10/26/20153136AMTM1INTEREST EARNED ON F N M A GTD REMIC 0.3845% 9/25/18 $1 PV ON 161.4800 SHARES DUE 10/25/2015 $0.00035/PV ON 467,376.14 PV DUE 10/25/15- - - - - 161.48 - - - 10/26/2015 10/26/2015 10/26/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y501,048.69 1.00 - - - (501,048.69) 501,048.69 - - 10/26/2015 10/26/2015 10/26/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y856.55 1.00 - - - (856.55) 856.55 - - 10/26/201510/26/2015 912828D64RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.500% 8/31/16- - - - - 384.62 - - - 10/26/2015 10/23/2015 10/26/2015 912828D64SOLD PAR VALUE OF U S TREASURY NT 0.500% 8/31/16 /MLPFS INC/FIXED INCOME/XOTC 500,000 PAR VALUE AT 100.132813 %(500,000.00) 1.00 - - - 500,664.07 (500,289.23) 374.84 - 10/26/2015912828D64AMORTIZED PREMIUM ON U S TREASURY NT 0.500% 8/31/16 CURRENT YEAR AMORTIZATION- - - - - - (74.28) - - 10/27/2015TRUST FEES COLLECTED CHARGED FOR PERIOD 09/01/2015 THRU 09/30/2015 COLLECTED BY DISBURSEMENT- - - - - (523.33) - - - 10/27/2015 10/22/2015 10/27/2015 191216BR0PURCHASED PAR VALUE OF COCA COLA CO THE 0.875% 10/27/17 /WELLS FARGO SECURITIES, LLC/56,000 PAR VALUE AT 99.956 %56,000.00 1.00 - - - (55,975.36) 55,975.36 - - 10/27/2015 10/27/2015 10/27/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(56,498.69) 1.00 - - - 56,498.69 (56,498.69) - - 10/29/2015 10/16/2015 10/29/2015 3134G72P5PURCHASED PAR VALUE OF F H L M C 1.200% 10/29/18 /NOMURA SECURITIES/FIX INCOME/500,000 PAR VALUE AT 100 %500,000.00 1.00 - - - (500,000.00) 500,000.00 - - 10/29/2015 10/29/2015 10/29/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(500,000.00) 1.00 - - - 500,000.00 (500,000.00) - - 10/30/2015 10/30/2015 10/30/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y336.57 1.00 - - - (336.57) 336.57 - - 10/30/201590331HMD2AMORTIZED PREMIUM ON US BANK NA MTN 0.527% 1/30/17 CURRENT YEAR AMORTIZATION- - - - - - (27.16) - - 10/30/201590331HMD2INTEREST EARNED ON US BANK NA MTN 0.527% 1/30/17 $1 PV ON 250000.0000 SHARES DUE 10/30/2015- - - - - 336.57 - - - 11/02/201513063CFD7AMORTIZED PREMIUM ON CALIFORNIA ST 1.250% 11/01/16 CURRENT YEAR AMORTIZATION- - - - - - (865.22) - - Page 27 of 3446 Account Number: 001050990415Name: RIVERSIDE COUNTY TRANS COMMTransaction Date Trade DateSettlement Date CUSIP DescriptionUnits Price Commissions SEC FeesMiscellaneous Fees Net Cash AmountFederal Tax Cost AmountShort Term Gain/Loss AmountLong Term Gain/Loss AmountPayden & Rygel Operating Portfolio Transaction ReportQuarter ended December 31, 201511/02/201513063CFD7INTEREST EARNED ON CALIFORNIA ST 1.250% 11/01/16 $1 PV ON 350000.0000 SHARES DUE 11/1/2015- - - - - 2,187.50 - - - 11/02/201519416QDU1AMORTIZED PREMIUM ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR AMORTIZATION- - - - - - (4,248.87) - - 11/02/201519416QDU1ACCREDITED DISCOUNT ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR ACQ. PREMIUM OID- - - - - - (199.03) - - 11/02/201519416QDU1ACCREDITED DISCOUNT ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR OID- - - - - - 199.03 - - 11/02/201519416QDU1INTEREST EARNED ON COLGATE PALM MTN 2.625% 5/01/17 $1 PV ON 505000.0000 SHARES DUE 11/1/2015- - - - - 6,628.13 - - - 11/02/20153133EEWS5INTEREST EARNED ON F F C B DEB 0.233% 1/02/18 $1 PV ON 700000.0000 SHARES DUE 11/2/2015- - - - - 140.45 - - - 11/02/2015 11/02/2015 11/02/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y603,097.67 1.00 - - - (603,097.67) 603,097.67 - - 11/02/201531846V203INTEREST EARNED ON FIRST AMER GOVT OBLIG FUND CL Y UNIT ON 0.0000 SHARES DUE 10/31/2015 INTEREST FROM 10/1/15 TO 10/31/15- - - - - 1.37 - - - 11/02/2015 11/02/2015 11/02/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(142,857.41) 1.00 - - - 142,857.41 (142,857.41) - - 11/02/20156055806F1AMORTIZED PREMIUM ON MISSISSIPPI ST SER D 3.381% 11/01/18 CURRENT YEAR AMORTIZATION- - - - - - (901.02) - - 11/02/20156055806F1INTEREST EARNED ON MISSISSIPPI ST SER D 3.381% 11/01/18 $1 PV ON 100000.0000 SHARES DUE 11/1/2015- - - - - 1,690.50 - - - 11/02/2015702282NA8INTEREST EARNED ON PASADENA CA UNIF SCH 0.541% 11/01/15 $1 PV ON 425000.0000 SHARES DUE 11/1/2015- - - - - 1,149.63 - - - 11/02/2015 11/01/2015 11/01/2015 702282NA8MATURED PAR VALUE OF PASADENA CA UNIF SCH 0.541% 11/01/15 425,000 PAR VALUE AT 100 %(425,000.00) 1.00 - - - 425,000.00 (425,000.00) - - 11/02/2015702282NA8AMORTIZED PREMIUM ON PASADENA CA UNIF SCH 0.541% 11/01/15 CURRENT YEAR AMORTIZATION- - - - - - (339.99) - - 11/02/2015702282ND2AMORTIZED PREMIUM ON PASADENA CA UNIF 1.861% 11/01/18 CURRENT YEAR AMORTIZATION- - - - - - (147.51) - - 11/02/2015702282ND2INTEREST EARNED ON PASADENA CA UNIF 1.861% 11/01/18 $1 PV ON 250000 0000 SHARES DUE 11/1/20152 326 2511/02/2015702282ND2250000.0000 SHARES DUE 11/1/2015- - - - - 2,326.25 - - - 11/02/201511/02/2015 912828D64RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.500% 8/31/16- - - - - 787.50 - - - 11/02/2015 10/30/2015 11/02/2015 912828D64SOLD PAR VALUE OF U S TREASURY NT 0.500% 8/31/16 /BMO CAPITAL MARKETS CORP./910,000 PAR VALUE AT 100.070313 %(910,000.00) 1.00 - - - 910,639.85 (910,514.41) 125.44 - 11/02/2015912828D64AMORTIZED PREMIUM ON U S TREASURY NT 0.500% 8/31/16 CURRENT YEAR AMORTIZATION- - - - - - (23.97) - - 11/02/2015912828F88INTEREST EARNED ON U S TREASURY NT 0.375% 10/31/16 $1 PV ON 5000000.0000 SHARES DUE 10/31/2015- - - - - 9,375.00 - - - 11/02/201511/02/2015 912828SS0PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.875% 4/30/17- - - - - (43.61) - - - 11/02/2015 10/30/2015 11/02/2015 912828SS0PURCHASED PAR VALUE OF U S TREASURY NT 0.875% 4/30/17 /BMO CAPITAL MARKETS CORP/BONDS/907,000 PAR VALUE AT 100.40625028 % 907,000.00 1.00 - - - (910,684.69) 910,684.69 - - 11/02/2015912828SS0AMORTIZED PREMIUM ON U S TREASURY NT 0.875% 4/30/17 CURRENT YEAR AMORTIZATION- - - - - - (815.40) - - 11/02/2015912828SS0INTEREST EARNED ON U S TREASURY NT 0.875% 4/30/17 $1 PV ON 1370000.0000 SHARES DUE 10/31/2015- - - - - 5,993.75 - - - 11/02/2015977100AU0AMORTIZED PREMIUM ON WISCONSIN ST 5.050% 5/01/18 CURRENT YEAR AMORTIZATION- - - - - - (577.58) - - 11/02/2015977100AU0INTEREST EARNED ON WISCONSIN ST 5.050% 5/01/18 $1 PV ON 200000.0000 SHARES DUE 11/1/2015- - - - - 5,050.00 - - - 11/03/2015037833AH3AMORTIZED PREMIUM ON APPLE INC 0.450% 5/03/16 CURRENT YEAR AMORTIZATION- - - - - - (92.12) - - 11/03/2015037833AH3INTEREST EARNED ON APPLE INC 0.450% 5/03/16 $1 PV ON 500000.0000 SHARES DUE 11/3/2015- - - - - 1,125.00 - - - 11/03/2015 11/03/2015 11/03/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(248,272.18) 1.00 - - - 248,272.18 (248,272.18) - - 11/03/2015 10/29/2015 11/03/2015 594918BF0PURCHASED PAR VALUE OF MICROSOFT CORP 1.300% 11/03/18 /J.P. MORGAN SECURITIES LLC/250,000 PAR VALUE AT 99.9 %250,000.00 1.00 - - - (249,750.00) 249,750.00 - - 11/05/2015037833AG5AMORTIZED PREMIUM ON APPLE INC 0.56232% 5/03/18 CURRENT YEAR AMORTIZATION- - - - - - (55.94) - - 11/05/2015037833AG5INTEREST EARNED ON APPLE INC 0.56232% 5/03/18 $1 PV ON 250000.0000 SHARES DUE 11/1/2015- - - - - 351.45 - - - 11/05/2015 10/28/2015 11/05/2015 31680GAB2PURCHASED PAR VALUE OF FIFTH THIRD AUTO TRU 1.020% 5/15/18 /CREDIT SUISSE SECURITIES (USA)/160,000 PAR VALUE AT 99.99727 % 160,000.00 1.00 - - - (159,995.63) 159,995.63 - - 11/05/2015 11/05/2015 11/05/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(159,995.63) 1.00 - - - 159,995.63 (159,995.63) - - 11/12/2015 11/12/2015 11/12/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(51,079.35) 1.00 - - - 51,079.35 (51,079.35) - - 11/12/2015 10/15/2015 10/15/2015 47787VAC5PAID DOWN-RV PAR VALUE OF JOHN DEERE OWNER 0.920% 4/16/18 RATE CHANGE PER DTC51,079.35 2.68 - - - (51,079.35) 51,065.38 (13.97) - ,(, ),()Page 28 of 3447 Account Number: 001050990415Name: RIVERSIDE COUNTY TRANS COMMTransaction Date Trade DateSettlement Date CUSIP DescriptionUnits Price Commissions SEC FeesMiscellaneous Fees Net Cash AmountFederal Tax Cost AmountShort Term Gain/Loss AmountLong Term Gain/Loss AmountPayden & Rygel Operating Portfolio Transaction ReportQuarter ended December 31, 201511/12/201547787VAC5INTEREST EARNED ON JOHN DEERE OWNER 0.920% 4/16/18 $1 PV ON 575.0000 SHARES DUE 10/15/2015 RATE CHANGE PER DTC- - - - - (575.00) - - - 11/12/201547787VAC5INTEREST EARNED ON JOHN DEERE OWNER 0.920% 4/16/18 $1 PV ON 750000.0000 SHARES DUE 10/15/2015- - - - - 575.00 - - - 11/13/2015037833BB5INTEREST EARNED ON APPLE INC 0.900% 5/12/17 $1 PV ON 120000.0000 SHARES DUE 11/13/2015- - - - - 540.00 - - - 11/13/201522533M2F7INTEREST EARNED ON CREDIT AGRICOLE C D 0.310% 11/13/15 $1 PV ON 500000.0000 SHARES DUE 11/13/2015 11/13/15 INTEREST ON MATURITY- - - - - 378.89 - - - 11/13/2015 11/13/2015 11/13/2015 22533M2F7MATURED PAR VALUE OF CREDIT AGRICOLE C D 0.310% 11/13/15 500,000 PAR VALUE AT 100 %(500,000.00) 1.00 - - - 500,000.00 (500,000.00) - - 11/13/2015 11/12/2015 11/13/2015 22533M7M7PURCHASED PAR VALUE OF CREDIT AGRICOLE C D 0.150% 12/17/15 /J.P. MORGAN SECURITIES LLC/500,000 PAR VALUE AT 100 %500,000.00 1.00 - - - (500,000.00) 500,000.00 - - 11/13/2015 11/13/2015 11/13/2015 23290QR54MATURED PAR VALUE OF DNB BANK ASA NY C D 0.260% 11/13/15 500,000 PAR VALUE AT 100 %(500,000.00) 1.00 - - - 500,000.00 (500,000.00) - - 11/13/201523290QR54INTEREST EARNED ON DNB BANK ASA NY C D 0.260% 11/13/15 $1 PV ON 500000.0000 SHARES DUE 11/13/2015 11/13/15 INTEREST ON MATURITY- - - - - 332.22 - - - 11/13/2015 11/12/2015 11/13/2015 23340QBE2PURCHASED PAR VALUE OF DNB BANK ASA NY C D 0.120% 12/17/15 /J.P. MORGAN SECURITIES LLC/500,000 PAR VALUE AT 100 %500,000.00 1.00 - - - (500,000.00) 500,000.00 - - 11/13/2015 11/13/2015 11/13/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(999,288.89) 1.00 - - - 999,288.89 (999,288.89) - - 11/13/2015 11/13/2015 11/13/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y1,000,540.00 1.00 - - - (1,000,540.00) 1,000,540.00 - - 11/16/2015161571GS7AMORTIZED PREMIUM ON CHASE ISSUANCE TRU 0.55013% 2/18/20 CURRENT YEAR AMORTIZATION- - - - - - (24.22) - - 11/16/2015161571GS7INTEREST EARNED ON CHASE ISSUANCE TRU 0.55013% 2/18/20 $1 PV ON 343.8300 SHARES DUE 11/15/2015 $0.00046/PV ON 750,000.00 PV DUE 11/15/15- - - - - 343.83 - - - 11/16/201531680GAB2INTEREST EARNED ON FIFTH THIRD AUTO TRU 1.020% 5/15/18 $1 PV ON 160000.0000 SHARES DUE 11/15/2015- - - - - 45.33 - - - 11/16/201511/16/201511/16/201531846V203PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y316 197 60100(316 197 60)316 197 6011/16/201511/16/201511/16/201531846V203PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y316,197.60 1.00 - - - (316,197.60) 316,197.60 - - 11/16/2015 11/16/2015 11/16/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y3,792.89 1.00 - - - (3,792.89) 3,792.89 - - 11/16/2015 11/15/2015 11/16/2015 47787UAB9 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 0.870% 2/15/18(1,609.31) - - - - 1,609.31 (1,609.21) 0.10 - 11/16/201547787UAB9INTEREST EARNED ON JOHN DEERE OWNER 0.870% 2/15/18 $1 PV ON 355.2500 SHARES DUE 11/15/2015 $0.00073/PV ON 490,000.00 PV DUE 11/15/15- - - - - 355.25 - - - 11/16/201547787VAC5INTEREST EARNED ON JOHN DEERE OWNER 0.920% 4/16/18 $1 PV ON 575.0000 SHARES DUE 11/15/2015 $0.00077/PV ON 750,000.00 PV DUE 11/15/15- - - - - 575.00 - - - 11/16/2015717081DP5AMORTIZED PREMIUM ON PFIZER INC 0.46539% 5/15/17 CURRENT YEAR AMORTIZATION- - - - - - (2.08) - - 11/16/2015717081DP5INTEREST EARNED ON PFIZER INC 0.46539% 5/15/17 $1 PV ON 250000.0000 SHARES DUE 11/15/2015- - - - - 297.33 - - - 11/16/201511/16/2015 89231TAD2RECEIVED ACCRUED INTEREST ON SALE OF TOYOTA AUTO 1.440% 6/17/19- - - - - 11.17 - - - 11/16/2015 11/10/2015 11/16/2015 89231TAD2SOLD PAR VALUE OF TOYOTA AUTO 1.440% 6/17/19 /NOMURA SECURITIES INTL., FIXED/300,000 PAR VALUE AT 99.84375 %(300,000.00) 1.00 - - - 299,531.25 (299,956.20) (424.95) - 11/16/201589231TAD2INTEREST EARNED ON TOYOTA AUTO 1.440% 6/17/19 $1 PV ON 300000.0000 SHARES DUE 11/15/2015- - - - - 335.00 - - - 11/16/201589237CAD3INTEREST EARNED ON TOYOTA AUTO RECEIV 1.270% 5/15/19 $1 PV ON 500000.0000 SHARES DUE 11/15/2015- - - - - 529.17 - - - 11/16/2015912828G20INTEREST EARNED ON U S TREASURY NT 0.875% 11/15/17 $1 PV ON 2490000.0000 SHARES DUE 11/15/2015- - - - - 10,893.75 - - - 11/16/201591412GWU5INTEREST EARNED ON UNIV CALIFORNIA CA 1.418% 5/15/18 $1 PV ON 250000.0000 SHARES DUE 11/15/2015- - - - - 2,264.86 - - - 11/16/201591412GWV3INTEREST EARNED ON UNIV OF CA 2.003% 5/15/19 $1 PV ON 250000.0000 SHARES DUE 11/15/2015- - - - - 3,199.24 - - - 11/17/2015166764AK6AMORTIZED PREMIUM ON CHEVRON CORP 0.45355% 11/15/17 CURRENT YEAR AMORTIZATION- - - - - - (14.20) - - 11/17/2015166764AK6INTEREST EARNED ON CHEVRON CORP 0.45355% 11/15/17 $1 PV ON 250000.0000 SHARES DUE 11/17/2015- - - - - 309.97 - - - 11/17/201511/17/2015 3137BLVY1PAID ACCRUED INTEREST ON PURCHASE OF F H L M C MLTCL MTG 1.639% 10/25/19- - - - - (152.97) - - - 11/17/2015 11/10/2015 11/17/2015 3137BLVY1PURCHASED PAR VALUE OF F H L M C MLTCL MTG 1.639% 10/25/19 /BARCLAYS CAPITAL INC. FIXED IN/210,000 PAR VALUE AT 99.7492 % 210,000.00 1.00 - - - (209,473.32) 209,473.32 - - 11/17/2015 11/17/2015 11/17/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(209,626.29) 1.00 - - - 209,626.29 (209,626.29) - - 11/17/2015 11/17/2015 11/17/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y309.97 1.00 - - - (309.97) 309.97 - - 11/18/2015 11/18/2015 11/18/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y249,812.05 1.00 - - - (249,812.05) 249,812.05 - - 11/18/2015 11/18/2015 11/18/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(255,675.79) 1.00 - - - 255,675.79 (255,675.79) - - (, ),(, )Page 29 of 3448 Account Number: 001050990415Name: RIVERSIDE COUNTY TRANS COMMTransaction Date Trade DateSettlement Date CUSIP DescriptionUnits Price Commissions SEC FeesMiscellaneous Fees Net Cash AmountFederal Tax Cost AmountShort Term Gain/Loss AmountLong Term Gain/Loss AmountPayden & Rygel Operating Portfolio Transaction ReportQuarter ended December 31, 201511/18/201558933YAH8AMORTIZED PREMIUM ON MERCK CO INC 0.6162% 5/18/18 CURRENT YEAR AMORTIZATION- - - - - - (218.82) - - 11/18/201558933YAH8INTEREST EARNED ON MERCK CO INC 0.6162% 5/18/18 $1 PV ON 750000.0000 SHARES DUE 11/18/2015- - - - - 1,311.86 - - - 11/18/201511/18/2015 912828F88RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.375% 10/31/16- - - - - 370.88 - - - 11/18/2015 11/17/2015 11/18/2015 912828F88SOLD PAR VALUE OF U S TREASURY NT 0.375% 10/31/16 /BARCLAYS CAPITAL INC. FIXED IN/2,000,000 PAR VALUE AT 99.804688 %(2,000,000.00) 1.00 - - - 1,996,093.76 (1,996,562.50) (468.74) - 11/18/201511/18/2015 912828G46PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.500% 11/30/16- - - - - (4,672.13) - - - 11/18/2015 11/17/2015 11/18/2015 912828G46PURCHASED PAR VALUE OF U S TREASURY NT 0.500% 11/30/16 /CITIGROUP GLOBAL MARKETS INC./2,000,000 PAR VALUE AT 99.8828125 %2,000,000.00 1.00 - - - (1,997,656.25) 1,997,656.25 - - 11/19/2015 11/19/2015 11/19/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(128,422.62) 1.00 - - - 128,422.62 (128,422.62) - - 11/19/201511/19/2015 912828L40PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 1.000% 9/15/18- - - - - (232.14) - - - 11/19/2015 11/16/2015 11/19/2015 912828L40PURCHASED PAR VALUE OF U S TREASURY NT 1.000% 9/15/18 /CITIGROUP GLOBAL MARKETS INC./130,000 PAR VALUE AT 99.61718462 %130,000.00 1.00 - - - (129,502.34) 129,502.34 - - 11/20/2015 11/20/2015 11/20/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y16,727.24 1.00 - - - (16,727.24) 16,727.24 - - 11/20/2015 11/20/2015 11/20/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y416.08 1.00 - - - (416.08) 416.08 - - 11/20/201536159LCN4AMORTIZED PREMIUM ON GE DEALER FLOORPLA 0.66573% 10/20/19 CURRENT YEAR AMORTIZATION- - - - - - (16.00) - - 11/20/201536159LCN4INTEREST EARNED ON GE DEALER FLOORPLA 0.66573% 10/20/19 $1 PV ON 750000.0000 SHARES DUE 11/20/2015- - - - - 416.08 - - - 11/20/2015 11/20/2015 11/20/2015 92867VAB6 PAID DOWN PAR VALUE OF VOLKSWAGEN AUTO 0.870% 6/20/17(16,572.07) - - - - 16,572.07 (16,555.76) 16.31 - 11/20/201592867VAB6INTEREST EARNED ON VOLKSWAGEN AUTO 0.870% 6/20/17 $1 PV ON 155.1700 SHARES DUE 11/20/2015 $0.00073/PV ON 214,031.51 PV DUE 11/20/15155 1711/20/201592867VAB611/20/15- - - - - 155.17 - - - 11/24/2015TRUST FEES COLLECTED CHARGED FOR PERIOD 10/01/2015 THRU 10/31/2015 COLLECTED BY DISBURSEMENT- - - - - (522.80) - - - 11/24/2015 11/24/2015 11/24/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(522.80) 1.00 - - - 522.80 (522.80) - - 11/25/2015 11/25/2015 11/25/2015 3136AMTM1 PAID DOWN PAR VALUE OF F N M A GTD REMIC 0.3845% 9/25/18(423.39) 0.00 - - - 423.39 (423.28) 0.11 - 11/25/20153136AMTM1INTEREST EARNED ON F N M A GTD REMIC 0.3845% 9/25/18 $1 PV ON 169.9900 SHARES DUE 11/25/2015 $0.00036/PV ON 466,902.42 PV DUE 11/25/15- - - - - 169.99 - - - 11/25/2015 11/25/2015 11/25/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y593.38 1.00 - - - (593.38) 593.38 - - 11/30/20153130A5EP0INTEREST EARNED ON F H L B 0.625% 5/30/17 $1 PV ON 1000000.0000 SHARES DUE 11/30/2015- - - - - 3,125.00 - - - 11/30/2015 11/30/2015 11/30/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y8,125.00 1.00 - - - (8,125.00) 8,125.00 - - 11/30/2015912828G46INTEREST EARNED ON U S TREASURY NT 0.500% 11/30/16 $1 PV ON 2000000.0000 SHARES DUE 11/30/2015- - - - - 5,000.00 - - - 12/01/201531846V203INTEREST EARNED ON FIRST AMER GOVT OBLIG FUND CL Y UNIT ON 0.0000 SHARES DUE 11/30/2015 INTEREST FROM 11/1/15 TO 11/30/15- - - - - 0.99 - - - 12/01/2015 12/01/2015 12/01/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y344.81 1.00 - - - (344.81) 344.81 - - 12/01/201554473ERP1INTEREST EARNED ON LOS ANGELES CNTY CA 1.507% 12/01/17 $1 PV ON 25000.0000 SHARES DUE 12/1/2015- - - - - 93.14 - - - 12/01/201554473ERQ9INTEREST EARNED ON LOS ANGELES CNTY CA 2.036% 12/01/18 $1 PV ON 50000.0000 SHARES DUE 12/1/2015- - - - - 251.67 - - - 12/02/20153133EEWS5INTEREST EARNED ON F F C B DEB 0.233% 1/02/18 $1 PV ON 700000.0000 SHARES DUE 12/2/2015- - - - - 135.92 - - - 12/02/2015 12/02/2015 12/02/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y3,011.91 1.00 - - - (3,011.91) 3,011.91 - - 12/02/201594974BFW5AMORTIZED PREMIUM ON WELLS FARGO COM MTN 1.150% 6/02/17 CURRENT YEAR AMORTIZATION- - - - - - (115.43) - - 12/02/201594974BFW5INTEREST EARNED ON WELLS FARGO COM MTN 1.150% 6/02/17 $1 PV ON 500000.0000 SHARES DUE 12/2/2015- - - - - 2,875.00 - - - 12/07/201506406HCK3AMORTIZED PREMIUM ON BANK OF NY MTN 0.772% 3/06/18 CURRENT YEAR AMORTIZATION- - - - - - (113.78) - - 12/07/201506406HCK3INTEREST EARNED ON BANK OF NY MTN 0.772% 3/06/18 $1 PV ON 750000.0000 SHARES DUE 12/6/2015- - - - - 1,447.50 - - - 12/07/2015 12/07/2015 12/07/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y1,447.50 1.00 - - - (1,447.50) 1,447.50 - - 12/11/2015 12/10/2015 12/11/2015 3137EADX4PURCHASED PAR VALUE OF F H L M C 1.000% 12/15/17 /NOMURA SECURITIES/FIX INCOME/820,000 PAR VALUE AT 99.897 %820,000.00 1.00 - - - (819,155.40) 819,155.40 - - 12/11/2015 12/11/2015 12/11/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y39,800.31 1.00 - - - (39,800.31) 39,800.31 - - 12/11/201512/11/2015 912828G20RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.875% 11/15/17- - - - - 537.50 - - - Page 30 of 3449 Account Number: 001050990415Name: RIVERSIDE COUNTY TRANS COMMTransaction Date Trade DateSettlement Date CUSIP DescriptionUnits Price Commissions SEC FeesMiscellaneous Fees Net Cash AmountFederal Tax Cost AmountShort Term Gain/Loss AmountLong Term Gain/Loss AmountPayden & Rygel Operating Portfolio Transaction ReportQuarter ended December 31, 201512/11/2015 12/10/2015 12/11/2015 912828G20SOLD PAR VALUE OF U S TREASURY NT 0.875% 11/15/17 /BARCLAYS CAPITAL INC. FIXED IN/860,000 PAR VALUE AT 99.81607093 % (860,000.00) 1.00 - - - 858,418.21 (857,950.78) 467.43 - 12/14/2015 12/14/2015 12/14/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y1,395.33 1.00 - - - (1,395.33) 1,395.33 - - 12/14/201548125LRD6INTEREST EARNED ON JP MORGAN CHASE MTN 0.736% 6/14/17 $1 PV ON 750000.0000 SHARES DUE 12/14/2015- - - - - 1,395.33 - - - 12/15/2015161571GS7AMORTIZED PREMIUM ON CHASE ISSUANCE TRU 0.49977% 2/18/20 CURRENT YEAR AMORTIZATION- - - - - - (19.87) - - 12/15/2015161571GS7INTEREST EARNED ON CHASE ISSUANCE TRU 0.49977% 2/18/20 $1 PV ON 312.3500 SHARES DUE 12/15/2015 $0.00042/PV ON 750,000.00 PV DUE 12/15/15- - - - - 312.35 - - - 12/15/201517275RAU6INTEREST EARNED ON CISCO SYSTEMS INC 1.650% 6/15/18 $1 PV ON 400000.0000 SHARES DUE 12/15/2015- - - - - 3,263.33 - - - 12/15/201531680GAB2INTEREST EARNED ON FIFTH THIRD AUTO TRU 1.020% 5/15/18 $1 PV ON 136.0000 SHARES DUE 12/15/2015 $0.00085/PV ON 160,000.00 PV DUE 12/15/15- - - - - 136.00 - - - 12/15/2015 12/15/2015 12/15/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y4,240.85 1.00 - - - (4,240.85) 4,240.85 - - 12/15/2015 12/15/2015 12/15/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y76,059.88 1.00 - - - (76,059.88) 76,059.88 - - 12/15/201547787UAB9INTEREST EARNED ON JOHN DEERE OWNER 0.870% 2/15/18 $1 PV ON 354.0800 SHARES DUE 12/15/2015 $0.00073/PV ON 488,390.69 PV DUE 12/15/15- - - - - 354.08 - - - 12/15/2015 12/15/2015 12/15/2015 47787UAB9 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 0.870% 2/15/18(34,451.23) 0.25 - - - 34,451.23 (34,449.01) 2.22 - 12/15/201547787VAC5INTEREST EARNED ON JOHN DEERE OWNER 0.920% 4/16/18 $1 PV ON 575.0000 SHARES DUE 12/15/2015 $0.00077/PV ON 750,000.00 PV DUE 12/15/15- - - - - 575.00 - - - 12/15/2015 12/15/2015 12/15/2015 47787VAC5 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 0.920% 4/16/18(40,679.57) 0.98 - - - 40,679.57 (40,668.45) 11.12 - 12/15/201589237CAD3INTEREST EARNED ON TOYOTA AUTO RECEIV 1.270% 5/15/19 $1 PV ON 529.1700 SHARES DUE 12/15/2015 $0.00106/PV ON 500,000.00 PV DUE 12/15/15- - - - - 529.17 - - - MATURED PAR VALUE OF CREDIT AGRICOLE C D 0 150% 12/17/1512/17/2015 12/17/2015 12/17/2015 22533M7M7MATURED PAR VALUE OF CREDIT AGRICOLE C D 0.150% 12/17/15 500,000 PAR VALUE AT 100 %(500,000.00) 1.00 - - - 500,000.00 (500,000.00) - - 12/17/201522533M7M7INTEREST EARNED ON CREDIT AGRICOLE C D 0.150% 12/17/15 $1 PV ON 500000.0000 SHARES DUE 12/17/2015 12/17/15 INTEREST ON MATURITY- - - - - 70.83 - - - 12/17/201523340QBE2INTEREST EARNED ON DNB BANK ASA NY C D 0.120% 12/17/15 $1 PV ON 500000.0000 SHARES DUE 12/17/2015 12/17/15 INTEREST ON MATURITY- - - - - 56.67 - - - 12/17/2015 12/17/2015 12/17/2015 23340QBE2MATURED PAR VALUE OF DNB BANK ASA NY C D 0.120% 12/17/15 500,000 PAR VALUE AT 100 %(500,000.00) 1.00 - - - 500,000.00 (500,000.00) - - 12/17/2015 12/17/2015 12/17/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y127.50 1.00 - - - (127.50) 127.50 - - 12/17/2015 12/17/2015 12/17/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y1,910,176.95 1.00 - - - (1,910,176.95) 1,910,176.95 - - 12/17/201512/17/2015 912828D64RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.500% 8/31/16- - - - - 1,350.00 - - - 12/17/2015 12/16/2015 12/17/2015 912828D64SOLD PAR VALUE OF U S TREASURY NT 0.500% 8/31/16 /J.P. MORGAN SECURITIES LLC/910,000 PAR VALUE AT 99.87109341 %(910,000.00) 1.00 - - - 908,826.95 (910,437.50) (1,610.55) - 12/17/2015912828D64AMORTIZED PREMIUM ON U S TREASURY NT 0.500% 8/31/16 CURRENT YEAR AMORTIZATION- - - - - - (76.91) - - 12/18/2015 12/18/2015 12/18/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y397,878.68 1.00 - - - (397,878.68) 397,878.68 - - 12/18/2015 12/18/2015 12/18/2015 89113EX84PURCHASED PAR VALUE OF TORONTO DOMINION C D 0.740% 5/17/16 /MLPFS INC/FIXED INCOME/500,000 PAR VALUE AT 99.999994 %500,000.00 1.00 - - - (499,999.97) 499,999.97 - - 12/18/201512/18/2015 912828F88RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.375% 10/31/16- - - - - 445.05 - - - 12/18/2015 12/17/2015 12/18/2015 912828F88SOLD PAR VALUE OF U S TREASURY NT 0.375% 10/31/16 /BMO CAPITAL MARKETS CORP./900,000 PAR VALUE AT 99.714844 %(900,000.00) 1.00 - - - 897,433.60 (898,453.13) (1,019.53) - 12/21/2015 12/21/2015 12/21/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(2,471,070.14) 1.00 - - - 2,471,070.14 (2,471,070.14) - - 12/21/2015 12/21/2015 12/21/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y424.15 1.00 - - - (424.15) 424.15 - - 12/21/201536159LCN4AMORTIZED PREMIUM ON GE DEALER FLOORPLA 0.67864% 10/20/19 CURRENT YEAR AMORTIZATION- - - - - - (15.09) - - 12/21/201536159LCN4INTEREST EARNED ON GE DEALER FLOORPLA 0.67864% 10/20/19 $1 PV ON 750000.0000 SHARES DUE 12/20/2015- - - - - 424.15 - - - 12/21/201512/21/2015 912828F88RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.375% 10/31/16- - - - - 262.71 - - - 12/21/2015 12/17/2015 12/21/2015 912828F88SOLD PAR VALUE OF U S TREASURY NT 0.375% 10/31/16 /CITIGROUP GLOBAL MARKETS INC./XOTC 500,000 PAR VALUE AT 99.691071 %(500,000.00) 1.00 - - - 498,455.36 (499,140.62) (685.26) - 12/21/201512/21/2015 912828M72PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.875% 11/30/17- - - - - (251.02) - - - Page 31 of 3450 Account Number: 001050990415Name: RIVERSIDE COUNTY TRANS COMMTransaction Date Trade DateSettlement Date CUSIP DescriptionUnits Price Commissions SEC FeesMiscellaneous Fees Net Cash AmountFederal Tax Cost AmountShort Term Gain/Loss AmountLong Term Gain/Loss AmountPayden & Rygel Operating Portfolio Transaction ReportQuarter ended December 31, 201512/21/2015 12/17/2015 12/21/2015 912828M72PURCHASED PAR VALUE OF U S TREASURY NT 0.875% 11/30/17 /BARCLAYS CAPITAL INC. FIXED IN/500,000 PAR VALUE AT 99.762054 % 500,000.00 1.00 - - - (498,810.27) 498,810.27 - - 12/21/201512/21/2015 912828M72PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.875% 11/30/17- - - - - (230.94) - - - 12/21/2015 12/16/2015 12/21/2015 912828M72PURCHASED PAR VALUE OF U S TREASURY NT 0.875% 11/30/17 /CITIGROUP GLOBAL MARKETS INC./460,000 PAR VALUE AT 99.73826957 %460,000.00 1.00 - - - (458,796.04) 458,796.04 - - 12/21/201512/21/2015 912828UA6PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.625% 11/30/17- - - - - (731.56) - - - 12/21/2015 12/16/2015 12/21/2015 912828UA6PURCHASED PAR VALUE OF U S TREASURY NT 0.625% 11/30/17 /BMO CAPITAL MARKETS CORP/BONDS/2,040,000 PAR VALUE AT 99.20703088 % 2,040,000.00 0.99 - - - (2,023,823.43) 2,023,823.43 - - 12/21/2015 12/20/2015 12/21/2015 92867VAB6 PAID DOWN PAR VALUE OF VOLKSWAGEN AUTO 0.870% 6/20/17(12,711.89) - - - - 12,711.89 (12,699.38) 12.51 - 12/21/201592867VAB6INTEREST EARNED ON VOLKSWAGEN AUTO 0.870% 6/20/17 $1 PV ON 143.1600 SHARES DUE 12/20/2015 $0.00073/PV ON 197,459.44 PV DUE 12/20/15- - - - - 143.16 - - - 12/24/2015TRUST FEES COLLECTED CHARGED FOR PERIOD 11/01/2015 THRU 11/30/2015 COLLECTED BY DISBURSEMENT- - - - - (522.23) - - - 12/24/2015 12/24/2015 12/24/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(522.23) 1.00 - - - 522.23 (522.23) - - 12/28/2015 12/25/2015 12/28/2015 3136AMTM1 PAID DOWN PAR VALUE OF F N M A GTD REMIC 0.3845% 9/25/18(478.24) - - - - 478.24 (478.12) 0.12 - 12/28/20153136AMTM1INTEREST EARNED ON F N M A GTD REMIC 0.3845% 9/25/18 $1 PV ON 157.1500 SHARES DUE 12/25/2015 $0.00034/PV ON 466,479.03 PV DUE 12/25/15- - - - - 157.15 - - - 12/28/20153137BLVY1INTEREST EARNED ON F H L M C MLTCL MTG 1.639% 10/25/19 $1 PV ON 411.6100 SHARES DUE 12/25/2015 $0.00196/PV ON 210,000.00 PV DUE 12/25/15- - - - - 411.61 - - - 12/28/2015 12/25/2015 12/28/2015 3137BLVY1 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.639% 10/25/19(16,281.83) 15.35 - - - 16,281.83 (16,241.00) 40.83 - 12/28/2015 12/28/2015 12/28/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y16,281.83 1.00 - - - (16,281.83) 16,281.83 - - 12/28/201512/28/201512/28/201531846V203PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y1 047 00100(1 047 00)1 047 0012/28/201512/28/201512/28/201531846V203PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y1,047.00 1.00 - - - (1,047.00) 1,047.00 - - 12/29/2015 12/29/2015 12/29/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y981,521.16 1.00 - - - (981,521.16) 981,521.16 - - 12/29/201512/29/2015 912828F88RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.375% 10/31/16- - - - - 790.18 - - - 12/29/2015 12/24/2015 12/29/2015 912828F88SOLD PAR VALUE OF U S TREASURY NT 0.375% 10/31/16 /JPMORGAN CHASE BANK/RBS SECURI/1,300,000 PAR VALUE AT 99.73046846 %(1,300,000.00) 1.00 - - - 1,296,496.09 (1,297,765.63) (1,269.54) - 12/29/201512/29/2015 912828H37PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.875% 1/15/18- - - - - (5,221.59) - - - 12/29/2015 12/24/2015 12/29/2015 912828H37PURCHASED PAR VALUE OF U S TREASURY NT 0.875% 1/15/18 /UBS SECURITIES LLC/1,315,000 PAR VALUE AT 99.57031255 %1,315,000.00 1.00 - - - (1,309,349.61) 1,309,349.61 - - 12/29/201512/29/2015 912828H78RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.500% 1/31/17- - - - - 2,051.63 - - - 12/29/2015 12/28/2015 12/29/2015 912828H78SOLD PAR VALUE OF U S TREASURY NT 0.500% 1/31/17 /BARCLAYS CAPITAL INC. FIXED IN/1,000,000 PAR VALUE AT 99.675446 %(1,000,000.00) 1.00 - - - 996,754.46 (998,333.98) (1,579.52) - 12/30/2015 12/30/2015 12/30/2015 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y298,768.09 1.00 - - - (298,768.09) 298,768.09 - - 12/30/201512/28/2015 12/30/2015 912828F88SOLD PAR VALUE OF U S TREASURY NT 0.375% 10/31/16 /CITIGROUP GLOBAL MARKETS INC./XOTC 300,000 PAR VALUE AT 99.718415 %(300,000.00) 1.00 - - - 299,155.25 (299,484.37) (329.12) - 12/30/201512/30/2015 912828F88RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.375% 10/31/16- - - - - 185.44 - - - 12/30/201512/30/2015 912828G46RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.500% 11/30/16- - - - - 286.89 - - - 12/30/2015 12/29/2015 12/30/2015 912828G46SOLD PAR VALUE OF U S TREASURY NT 0.500% 11/30/16 /CITIGROUP GLOBAL MARKETS INC./XOTC 700,000 PAR VALUE AT 99.769196 %(700,000.00) 1.00 - - - 698,384.37 (699,179.69) (795.32) - 12/30/201512/30/2015 912828H37PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.875% 1/15/18- - - - - (2,796.20) - - - 12/30/2015 12/29/2015 12/30/2015 912828H37PURCHASED PAR VALUE OF U S TREASURY NT 0.875% 1/15/18 /J.P. MORGAN SECURITIES LLC/700,000 PAR VALUE AT 99.49252286 %700,000.00 0.99 - - - (696,447.66) 696,447.66 - - 12/31/2015037833AG5AMORTIZED PREMIUM ON APPLE INC 0.56232% 5/03/18 CURRENT YEAR AMORTIZATION- - - - - - (38.42) - - 12/31/2015037833AH3AMORTIZED PREMIUM ON APPLE INC 0.450% 5/03/16 CURRENT YEAR AMORTIZATION- - - - - - (30.20) - - 12/31/201506406HCK3AMORTIZED PREMIUM ON BANK OF NY MTN 0.772% 3/06/18 CURRENT YEAR AMORTIZATION- - - - - - (33.30) - - 12/31/2015084664CD1AMORTIZED PREMIUM ON BERKSHIRE HATHAWAY 0.59902% 1/12/18 CURRENT YEAR AMORTIZATION- - - - - - (49.84) - - Page 32 of 3451 Account Number: 001050990415Name: RIVERSIDE COUNTY TRANS COMMTransaction Date Trade DateSettlement Date CUSIP DescriptionUnits Price Commissions SEC FeesMiscellaneous Fees Net Cash AmountFederal Tax Cost AmountShort Term Gain/Loss AmountLong Term Gain/Loss AmountPayden & Rygel Operating Portfolio Transaction ReportQuarter ended December 31, 201512/31/2015084670BH0AMORTIZED PREMIUM ON BERKSHIRE HATHAWAY 1.550% 2/09/18 CURRENT YEAR AMORTIZATION- - - - - - (585.66) - - 12/31/201513063BN73AMORTIZED PREMIUM ON CALIFORNIA ST VAR 1.050% 2/01/16 CURRENT YEAR AMORTIZATION- - - - - - (1,412.58) - - 12/31/201513063CFD7AMORTIZED PREMIUM ON CALIFORNIA ST 1.250% 11/01/16 CURRENT YEAR AMORTIZATION- - - - - - (289.75) - - 12/31/2015161571GS7AMORTIZED PREMIUM ON CHASE ISSUANCE TRU 0.49977% 2/18/20 CURRENT YEAR AMORTIZATION- - - - - - (11.26) - - 12/31/2015166764AK6AMORTIZED PREMIUM ON CHEVRON CORP 0.45355% 11/15/17 CURRENT YEAR AMORTIZATION- - - - - - (6.37) - - 12/31/201519416QDU1AMORTIZED PREMIUM ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR AMORTIZATION- - - - - - (1,424.27) - - 12/31/201519416QDU1ACCREDITED DISCOUNT ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR ACQ. PREMIUM OID- - - - - - (65.98) - - 12/31/201519416QDU1ACCREDITED DISCOUNT ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR OID- - - - - - 65.98 - - 12/31/201520772JZR6AMORTIZED PREMIUM ON CONNECTICUT ST SER 3.000% 3/15/17 CURRENT YEAR AMORTIZATION- - - - - - (3,124.34) - - 12/31/2015263901AE0AMORTIZED PREMIUM ON DUKE ENERGY INDIAN 0.63285% 7/11/16 CURRENT YEAR AMORTIZATION- - - - - - (170.88) - - 12/31/2015 12/31/2015 12/31/2015 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y(1,313,546.44) 1.00 - - - 1,313,546.44 (1,313,546.44) - - 12/31/201536159LCN4AMORTIZED PREMIUM ON GE DEALER FLOORPLA 0.67864% 10/20/19 CURRENT YEAR AMORTIZATION- - - - - - (6.03) - - 12/31/201536962G2G8AMORTIZED PREMIUM ON GEN ELEC CAP CRP MTN 5.400% 2/15/17 CURRENT YEAR AMORTIZATION- - - - - - (1,710.22) - - 12/31/201536962G3H5AMORTIZED PREMIUM ON GEN ELEC CAP CRP MTN 5.625% 9/15/17 CURRENT YEAR AMORTIZATION- - - - - - (6,309.03) - - 12/31/201558933YAH8AMORTIZED PREMIUM ON MERCK CO INC 0.6162% 5/18/18 CURRENT YEAR AMORTIZATION- - - - - - (103.17) - - AMORTIZED PREMIUM ON MISSISSIPPI ST SER D 3 381% 11/01/1812/31/20156055806F1AMORTIZED PREMIUM ON MISSISSIPPI ST SER D 3.381% 11/01/18 CURRENT YEAR AMORTIZATION- - - - - - (303.04) - - 12/31/2015702282ND2AMORTIZED PREMIUM ON PASADENA CA UNIF 1.861% 11/01/18 CURRENT YEAR AMORTIZATION- - - - - - (99.40) - - 12/31/2015717081DD2AMORTIZED PREMIUM ON PFIZER INC 0.900% 1/15/17 CURRENT YEAR AMORTIZATION- - - - - - (357.47) - - 12/31/2015717081DP5AMORTIZED PREMIUM ON PFIZER INC 0.46539% 5/15/17 CURRENT YEAR AMORTIZATION- - - - - - (0.78) - - 12/31/201590331HMD2AMORTIZED PREMIUM ON US BANK NA MTN 0.5519% 1/30/17 CURRENT YEAR AMORTIZATION- - - - - - (18.34) - - 12/31/201590331HMQ3AMORTIZED PREMIUM ON US BANK NA MTN 1.350% 1/26/18 CURRENT YEAR AMORTIZATION- - - - - - (173.08) - - 12/31/2015912828D98AMORTIZED PREMIUM ON U S TREASURY NT 1.000% 9/15/17 CURRENT YEAR AMORTIZATION- - - - - - (483.28) - - 12/31/2015912828H94AMORTIZED PREMIUM ON U S TREASURY NT 1.000% 2/15/18 CURRENT YEAR AMORTIZATION- - - - - - (1,957.01) - - 12/31/2015912828L40AMORTIZED PREMIUM ON U S TREASURY NT 1.000% 9/15/18 CURRENT YEAR AMORTIZATION- - - - - - (341.44) - - 12/31/2015 12/28/2015 12/31/2015 912828N55PURCHASED PAR VALUE OF U S TREASURY NT 1.000% 12/31/17 /BMO CAPITAL MARKETS CORP/BONDS/1,315,000 PAR VALUE AT 99.88946312 % 1,315,000.00 1.00 - - - (1,313,546.44) 1,313,546.44 - - 12/31/2015912828SS0AMORTIZED PREMIUM ON U S TREASURY NT 0.875% 4/30/17 CURRENT YEAR AMORTIZATION- - - - - - (739.56) - - 12/31/2015912828TS9AMORTIZED PREMIUM ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR AMORTIZATION- - - - - - (21.00) - - 12/31/2015912828TS9ACCREDITED DISCOUNT ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR ACQ. PREMIUM OID- - - - - - (103.91) - - 12/31/2015912828TS9ACCREDITED DISCOUNT ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR OID- - - - - - 103.91 - - 12/31/2015912828WT3AMORTIZED PREMIUM ON U S TREASURY NT 0.875% 7/15/17 CURRENT YEAR AMORTIZATION- - - - - - (764.25) - - 12/31/2015931142DE0AMORTIZED PREMIUM ON WAL MART STORES INC 0.600% 4/11/16 CURRENT YEAR AMORTIZATION- - - - - - (124.99) - - 12/31/201594974BFK1AMORTIZED PREMIUM ON WELLS FARGO MTN 0.9241% 4/23/18 CURRENT YEAR AMORTIZATION- - - - - - (173.07) - - 12/31/201594974BFW5AMORTIZED PREMIUM ON WELLS FARGO COM MTN 1.150% 6/02/17 CURRENT YEAR AMORTIZATION- - - - - - (19.72) - - 12/31/2015977100AU0AMORTIZED PREMIUM ON WISCONSIN ST 5.050% 5/01/18 CURRENT YEAR AMORTIZATION- - - - - - (1,206.33) - - (, )Page 33 of 3452 Account Number: 001050990415Name: RIVERSIDE COUNTY TRANS COMMTransaction Date Trade DateSettlement Date CUSIP DescriptionUnits Price Commissions SEC FeesMiscellaneous Fees Net Cash AmountFederal Tax Cost AmountShort Term Gain/Loss AmountLong Term Gain/Loss AmountPayden & Rygel Operating Portfolio Transaction ReportQuarter ended December 31, 2015Total- - - - 59,201.77 7,856.99 - Page 34 of 3453 QUARTERLY PORTFOLIO REVIEWQUARTERLY PORTFOLIO REVIEW PAYDEN.COM LOS ANGELES | BOSTON | LONDON | PARIS 4th Quarter 2015 ATTACHMENT 15 54 January 2016 Dear Client, As investment managers, we evaluate future trends in the economy and translate them into investment decisions for your portfolios. Over the past several years, low-interest rates and concerns about when interest rates might rise dominated discussions. Well, no longer as the Federal Reserve Board raised its overnight interest rate in December. However, deeper questions remain: how fast and how far will interest rates rise and what will be the impact on the global economy? First, we think the Federal Reserve Board will move slowly and gradually. Remember, the much-anticipated rate hike was just ¼ of 1%. The US economy is not in perfect condition and inflation is still low, so there is no urgency for the Fed to move quickly. The broad consensus view is that short-term interest rates will end 2016 around 1%. Second, other global economies face a range of economic and political challenges and global central banks seem in no rush to raise interest rates. As a result, we think low-interest rates will continue to be a dominant global theme in 2016. However, we believe there are reasons for optimism for our longer-term prospects. For example, the United States is a leader in innovation and things are changing quickly with breakthroughs like driverless cars, delivery drones, 3D printers and 4D movies. Ultimately, innovation will provide the seeds of future economic growth and employment, though the journey may be a difficult one for workers who will need to retool their skill sets for the 21st-century economy. The most important message we can give our clients is that we are thinking about how these factors impact financial markets. Since the global economy is so interconnected, financial markets have also converged. Investors used to look only to bonds as their income source. Today, investors look to a variety of tools including stocks, and currencies as well as bonds, to find income opportunities. We expect this trend to continue in the years ahead. We thank you for continuing to place your trust in us. Most important, we wish health and happiness for you and your families in the New Year. Best wishes, Joan A. Payden President & CEO LETTER FROM THE CEO 55 Riverside County Transportation Commission 2812 ABJ AOC Portfolio Review and Market Update - 4th Quarter 2015 PORTFOLIO CHARACTERISTICS (As of 12/31/2015) $50.2 millionPortfolio Market Value AA+Weighted Average Credit Quality 1.4 yearsWeighted Average Duration 1.1%Weighted Average Yield to Maturity DURATION DISTRIBUTION 0% 10% 20% 30% 40% 50% 0 - 1 1 - 2 2 - 3 3+ Years SECTOR ALLOCATION 0% 10% 20% 30% 40% 50%TreasuriesCreditAgenciesAsset-BackedLocal AuthorityTaxable MunicipalBondsMortgage-BackedPORTFOLIO RETURNS - Periods Ending 12/31/2015 4th Quarter 2015 Since Inception (3/1/15) RCTC Operating Portfolio -0.25% 0.37% 0.37% Bank of America Merrill Lynch 1-3 Treasury -0.44% 0.25% 0.25% Periods over one year annualized Payden & Rygel • 333 South Grand Avenue • Los Angeles, California 90071 • (213) 625-1900 • www.payden.com56 Portfolio Review and Market Update - 4th Quarter 2015 MARKET THEMES The Federal Reserve increased the overnight lending rate for the first time since 2006. Their decision to move rates higher by 0.25% in December was based on strength in the labor market and improvement in household spending, business investment, and housing market conditions. The yield curve flattened with shorter-maturity bond yields increasing more than longer-maturity bond yields. Credit markets were able to absorb higher rates and robust new issuance with spreads tightening modestly. However, persistent commodity weakness and increased geo-political tensions limited credit performance. STRATEGY The portfolio holds a diversified mix of credit sectors for income generation and was positioned in anticipation of rising short-term interest rates, including our expectation of a hike in the Federal Funds rate before year-end. After the mid-December rate hike, we began to extend the portfolio duration. We will continue to move maturities out the yield curve to capture the higher yields now available. n Corporate bonds remain attractive, and we anticipate maintaining our exposure through the purchase of bonds in the new issue market. Within the corporate sector, we kept our floating-rate exposure to help mitigate interest rate risk. n We maintain our allocation to high-quality asset-backed and mortgage-backed securities (ABS/MBS) with short duration profiles for their yield and diversification benefits. n INTEREST RATES Treasury returns fell as short-maturity bonds rose 38 basis points on average during the quarter, with most of the move happening during November on the heels of strong employment data. n The portfolio’s duration position was a positive contributor to performance.n The longer-maturity corporate positions contributed positively as price appreciation from the modest spread tightening and the higher income outweighed the negative price return from rising yields. n SECTORS Credit spreads tightened led by financial and auto companies as the Federal Reserve displayed confidence in the economy by raising rates. The portfolio’s overweight to credit and our security selection added to performance. n ABS and MBS spreads were mixed while the performance impact was positive due to the higher yields over Treasuries. n Payden & Rygel • 333 South Grand Avenue • Los Angeles, California 90071 • (213) 625-1900 • www.payden.com57 So Much for that Peak Oil Theory MARKET PERSPECTIVE $61.2 $48.0 $21.8 $25.2 $22.1 $21.7 $21.9 $16.3 $17.0 $16.5 $13.4 $42.4 $61.1 $29.3 $59.0 $105.6 $37.9 $0 $20 $40 $60 $80 $100 $120 1860-18701870-18801880-18901890-19001900-19101910-19201920-19301930-19401940-19501950-19601960-19701970-19801980-19901990-20002000-20102010-2014PresentLong Term Average = $36.4 US Dollars Per Barrel*The price of a barrel of oil tumbled to an 11 year low of $34 in December, and oil’s plunge impacted global markets in 2015. First we will look at the reasons behind the price decline and then we will address the market impact. Both lower demand and excess supply drove the decline in oil. Lower demand was driven by lackluster global economic growth with the sum of goods and services rising just over 2% in 2015. A key reason for the slowdown in global growth was China. Economic output rose less than 7% in China (after years of growth rates closer to 10%) as the country attempted to realign its economy away from manufacturing and toward domestic consumption. From a supply perspective, the US and other oil producers continued to generate large quantities of oil and inventories of unsold production remained large. All things considered, and with the benefit of hindsight, lower oil prices make sense. Sources: BP Statistical Review of Energy, Bloomberg, Payden Calculations * Decade averages: Inflation adjusted in 2014 dollars History of the Price of Oil on Global Markets But an important question remains: what is a “normal” price for oil? Many investors seem to think low oil prices are somehow abnormal. We have a different point of view. One of our favorite charts of 2015 (above) puts the dramatic oil price decline in proper perspective. Stripping out inflation, the real price of a barrel of oil simply returned to its long-term average since 1860 of $36.40. Did the early part of this decade constitute an anomaly? We think so. Oil’s price decline goes a long way to explaining lackluster 2015 returns in both stocks and bonds. The S&P 500 index return was a modest 1.4% for the year, dragged down by the energy sector which has fallen more than 20%. Globally, equity markets of countries that import energy fared far better than those that export energy. For example, Japan’s Nikkei did better than the MSCI Latin America index. 58 US 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 US 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 US Government Fund EQUITY World Equity Fund FIXED INCOME Absolute Return 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 Bond Fund Global Short Bond Fund Sterling Corporate Bond Fund – Investment Grade US Core Bond Fund USD Low Duration Credit Fund LIQUIDITY FUNDS Euro Liquidity Fund Sterling Reserve Fund US Dollar Liquidity Fund For more information about Payden & Rygel, contact us at a location listed below. 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 PARIS Representative Office 54, 56 Avenue Hoche 75008 Paris, France + 33-607-604-441 PAYDEN.COM LOS ANGELES |BOSTON |LONDON |PARIS OVER 30 YEARS OF INSPIRING CONFIDENCE WITH AN UNWAVERING COMMITMENT TO OUR CLIENTS’ NEEDS. 59 COUNTY OF RIVERSIDE TREASURER’S POOLED INVESTMENT FUND IS CURRENTLY RATED: Aaa-bf BY MOODY’S INVESTOR’S SERVICE AND AAA/V1 BY FITCH RATINGS The Treasurer's Pooled Investment Fund is comprised of the County, Schools, Special Districts, and other Discretionary Depositors. County of Riverside Treasurer’s Pooled Investment Fund Capital Markets Team Don Kent Treasurer-Tax Collector Jon Christensen Asst. Treasurer-Tax Collector Giovane Pizano Investment Manager Isela Licea Asst. Investment Manager 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 achieve a return on the funds under his or her control. Investment Objectives 2015December Month End Market Value ($)* Month End Book Value ($) Paper Gain or Loss ($) Paper Gain or Loss (%) Book Yield (%) Yrs to Maturity Modified Duration December 7,023,488,956.44 7,028,915,490.64 (5,426,534.20) (0.08) 0.55 1.03 1.00 November 5,931,356,029.51 5,933,521,428.90 (2,165,399.39) (0.04) 0.50 1.03 1.01 October 5,880,386,136.39 5,878,933,080.22 1,453,056.17 0.02 0.46 0.98 0.95 September 5,735,299,236.42 5,731,768,505.08 3,530,731.34 0.06 0.43 0.93 0.90 August 5,919,900,024.76 5,919,457,634.55 442,390.21 0.01 0.50 1.17 1.14 July 6,376,089,738.27 6,374,589,823.83 1,499,914.44 0.02 0.44 1.05 1.02 “Icebergs Ahead, Captain” As we bid farewell to 2015 and begin to look forward to the New Year, several thoughts come to mind. First and foremost is that our hearts, thoughts and prayers go out to the victims, families and colleagues of the horrific terrorist attack that occurred in San Bernardino on Decem- ber 2nd. This heinous act in our own backyard was met with an overwhelming response of law en- forcement and first responders, and we should all be thankful for their service. For most of the year, FED Chair Yellen had been telegraphing to the financial world that fall would be the time to pull the pin on the “rate grenade” of ZIRP, or, zero interest rate policy. Well guess what? She did it, and on December 16th the FED embarked on the first in over 9 years of what they claimed will be a series of rate hikes. The FOMC voted 10-0 to raise the target range for the FED Funds rate by .25% to 0.25%-0.50%, stating “considerable improvement” in the unemployment numbers. They also expect that inflation will move back towards their 2% goal, that policy will contin- ue to be accommodative, future action will be data dependent, and, that the pace of rate increases is likely to be gradual. Moreover, the FED can move faster or slower depending on the economic data, although the focus will be on the labor market and inflation. The initial market reaction to a higher Fed Funds rate will be increased market volatility and potentially higher short term rates in the near term, but eventually market rates could moderate as the pace of rate hikes will likely slow or cease. The divergence between interest rate policy in the U.S. and the rest of the world, which is cutting rates and heading towards recession, will continue to contribute to a stronger U.S. dollar, which ultimately is bad for U.S. exports. This will continue to put a dent in the stock market as Wall Street analysts realign price targets to the new reality, especially with the higher exposed multina- tionals. We are already seeing cracks develop in world trade indices such as the BDI (Baltic Dry Index) which tracks global trade shipments of ma- jor raw material by sea; it is at its lowest point ever since its inception in 1985. Other concerns facing us in the coming year are the oil patch and commodities in general; the carnage continues with no signs of abatement anytime soon based on a big slowdown in China. Continued job losses and corporate failures, as well as pressure in the high yield paper market and the lending institutions that finance the drill- ers will be disruptive to our economy, none of which should be a surprise to anyone watching the weekly Baker Hughes rig counts. All of the aforementioned promises to create stock market volatility and swings in inter- est rates; if the trajectory doesn’t change in the near term the FED just may be one & done, at least for awhile. We are battening down the hatch- es and preparing for rough weather. We’ll contin- ue to stand watch and navigate clear of the ice- bergs as 2016 gets off to a bumpy start. Don Kent Treasurer—Tax Collector ATTACHMENT 16 60 Value Change Nymex Crude 37.04$ (4.61)$ Gold (USD/OZ)1,061.42$ (3.35)$ Value Change Dow Jones (DJIA)17,425.03$ (294.89)$ S&P 500 Index 2,043.94$ (36.47)$ NASDAQ (NDX)5,007.41$ (101.25)$ Fed Move 01/27/2016 03/16/2016 Decrease to 0.00%6.0%3.4% Increase to 0.25%94.0%55.3% Increase to 0.50%0.0%41.4% Increase to 0.75%0.0%0.0% Increase to 1%0.0%0.0% Current Fed Funds Rate: 0-0.25% Probability for FOMC Dates: Current Market Data Economic Indicators  Stock Indices Commodities  Fed Funds Target Rate COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR US Treasury Curve (M/M) FOMC Meeting Schedule Release %Risk Assessment 27-Jan 0-.25%_ 16-Mar 0-.25%_ Release Date Indicator Consensus Actual 12/04/2015 200,000 211,000 12/04/2015 5.0%5.0% 12/23/2015 -0.6%0.0% 12/22/2015 1.9%2.0% 12/29/2015 93.5 96.5 12/03/2015 1.4%1.5% 12/15/2015 0.0%0.0% 12/15/2015 0.2%0.2%CPI Ex Food and Energy - M/M change: CPI Ex Food and Energy excludes food and energy. Consumer Price Index - M/M change: The Consumer Price Index is a measure of the average price level of a fixed basket of goods and services purchased by consumers. Non-Farm Payrolls M/M change: Counts the number of paid employees working part-time or full-time in the nation's business and government establishments. Employment Situation: Measures the number of unemployed as a percentage of the labor Durable Goods Orders - M/M change: Reflects the new orders placed with domestic manufacturers for immediate and future delivery of factory hard goods. Real Gross Domestic Product - Q/Q change: The broadest measure of aggregate economic activity and encompasses every sector of the economy.  GDP is the country's most comprehensive economic scorecard. Consumer Confidence: Measures consumer attitudes on present economic conditions and expectations of future conditions. Factory Orders M/M change: Represents the dollar level of new orders for both durable and nondurable goods. 61 Fund Symbol 7 Day Yield Fidelity Prime Institutional MMF FIPXX 0.32% Federated Prime Obligations Fund POIXX 0.24% Wells Fargo Advantage Heritage WFJXX 0.31% JP Morgan CJPXX 0.21% Fidelity Gov Fund FRGXX 0.16% 0.43%0.44%0.48%0.46%0.40%0.42%0.44% 0.44% 0.50%0.43%0.46%0.50%0.55% 0.06% 0.06% 0.07%0.08%0.09%0.08%0.09%0.10% 0.11% 0.12% 0.12% 0.14% 0.25% 0.00% 0.50% 1.00% Dec-14 Feb-15 Apr-15 Jun-15 Aug -15 Oct-15 Dec-15 Pool Yield TIMMI The Pooled Investment Fund cash flow requirements are based upon a 12 month historical cash flow model. Based upon projected cash receipts and maturing investments, there are sufficient funds to meet future cash flow disbursements over the next 12 months. The Treasurer’s Institutional Money Market Index (TIMMI) is compiled and reported by the Riverside County Treasurer’s Capital Markets division. It is a composite index derived from four AAA rated prime institutional money market funds. Similar to the Treasurer’s Office, prime money market funds invest in a diversified portfolio of U.S. dollar denominated money market instruments including U.S. Treasuries, government agencies, commercial paper, certificates of deposits, repurchase agreements, etc. TIMMI is currently comprised of the five multi billion dollar funds listed below. TIMMI COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 3 Cash Flows Month Monthly Receipts Monthly Disbursements Difference Required Matured Investments Balance Actual Investments Maturing Available to Invest > 1 Year 01/2016 473.20 01/2016 901.94 1,593.66 (691.72) 218.52 - 1,550.05 02/2016 875.00 1,000.00 (125.00) 125.00 - 552.19 03/2016 1,100.00 970.00 130.00 130.00 70.00 04/2016 1,611.36 970.00 641.36 771.36 35.00 05/2016 712.44 1,350.00 (637.56) 133.80 644.73 06/2016 1,150.00 1,550.00 (400.00) 266.20 - 549.00 07/2016 1,100.00 1,050.00 50.00 50.00 476.30 08/2016 720.00 950.00 (230.00) 180.00 - 373.00 09/2016 850.00 1,050.00 (200.00) 200.00 - 365.26 10/2016 1,040.00 1,175.00 (135.00) 135.00 - 300.00 11/2016 1,200.00 960.00 240.00 240.00 171.34 12/2016 2,110.00 1,030.00 1,080.00 1,320.00 52.37 TOTALS 13,370.74 13,648.66 (277.92) 1,124.72 3,118.36 5,139.24 5,904.19 16.00% 73.12% 84.00% * All values reported in millions ($). 62 Asset Allocation COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 4 620,000.00 100.00% 0.24% .003 .003 250,000.00 100.00% 0.09% .003 .003 335.00 100.00% 0.98% 4.460 4.460 50,000.00 99.95% 0.37% .633 .633 840,000.00 99.81% 0.71% 1.450 1.450 350,000.00 99.99% 0.36% .540 .540 901,006.00 99.79% 1.24% 1.033 3.088 447,217.00 99.99% 0.39% .570 .570 245,984.00 99.84% 0.96% 1.162 2.189 535,824.00 100.05% 0.43% .512 .512 430,289.72 99.89% 0.67% .794 1.250 444,500.00 99.98% 0.35% .556 .556 821,516.00 99.82% 0.39% .837 .853 115,000.00 100.07% 0.50% .589 .589 133,850.00 99.97% 0.55% .507 .862 158,834.00 100.05% 0.22% .105 .105 171,465.00 100.00% 0.65% 1.076 1.076 465,000.00 100.05% 0.29% .117 .117 7,034,820.72 99.92% 0.55% .690 1.026 464,570.65 464,785.27 172,437.61 114,521.83 114,599.25 FARMER MAC 158,722.77 FMAC DISC NOTES 443,132.02 443,059.21 133,848.00 133,803.04 820,169.85821,637.84 FFCB DISC NOTES 335.00 534,453.32 445,771.86 COMM PAPER 158,797.00 MUNI BONDS 348,948.43 MUNI ZER0 CPNS FHLB BONDS FFCB BONDS .003 Assets (000's) Scheduled Par FHLMC BONDS 839,687.73 838,074.06 Scheduled Market 899,185.59 348,897.15 MMKT 430,262.26 Mat (Yr)Mkt/ Sch Book 445,746.05 YieldScheduled Book WAL (Yr) .003100.00% 0.55% LOCAL AGCY OBLIG US TREAS BONDS 620,000.00 620,000.00 250,000.00 FNMA BONDS 245,920.31 245,538.19 250,000.00 335.00 CALTRUST FND Totals (000's): 54,000.00 54,000.00 54,000.00 172,437.61 FNMA DISC NOTES 901,093.67 FHLMC DISC NOTES DDA/PASSBK US TREAS BILLS 49,862.24 49,838.75 7,028,915.49 7,023,488.96 FHLB DISC NOTES 534,163.28 429,769.61 63 Maturity Distribution COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 5 Scheduled Par (000's) 0-1 Mos 1-3 Mos 3-12 Mos 1-2 Yr 2-3 Yr >3 Yr Totals (000's) MMKT 620,000.00 - - - - - 620,000.00 CALTRUST FND 54,000.00 - - - - - 54,000.00 DDA/PASSBK 250,000.00 - - - - - 250,000.00 LOCAL AGCY OBLIG - - - - - 335.00 335.00 US TREAS BILLS - - 50,000.00 - - - 50,000.00 US TREAS BONDS - - 335,000.00 235,000.00 145,000.00 125,000.00 840,000.00 FHLMC DISC NOTES 60,000.00 25,000.00 265,000.00 - - - 350,000.00 FHLMC BONDS 5,000.00 - 129,991.00 135,000.00 122,550.00 508,465.00 901,0 06.00 FNMA DISC NOTES 51,000.00 - 396,217.00 - - - 447,217.00 FNMA BONDS - 10,000.00 109,604.00 - 65,000.00 61,380.00 245,984.00 FHLB DISC NOTES 29,600.00 11,941.00 494,283.00 - - - 535,824.00 FHLB BONDS 65,000.00 16,500.00 190,070.00 20,000.00 118,719.72 20,000.00 430,289.72 FFCB DISC NOTES 50,000.00 - 394,500.00 - - - 444,500.00 FFCB BONDS 140,070.00 80,250.00 331,296.00 169,900.00 50,000.00 50,000.00 821,516.00 FMAC DISC NOTES - 25,000.00 90,000.00 - - - 115,000.00 FARMER MAC 30,000.00 20,000.00 40,000.00 33,850.00 - 10,000.00 13 3,850.00 MUNI ZER0 CPNS 25,384.00 133,450.00 - - - - 158,834.00 MUNI BONDS - 30,050.00 91,030.00 20,385.00 25,000.00 5,000.00 17 1,465.00 COMM PAPER 170,000.00 225,000.00 70,000.00 - - - 465,000.00 Totals (000's):1,550,054.00 577,191.00 2,986,991.00 614,135.00 526,269.72 780,180.00 7,034,820.72 %22.03% 8.20% 42.46% 8.73% 7.48% 11.09% Cumulative %22.03% 30.24% 72.70% 81.43% 88.91% 100.00% 64 Credit Quality Book Market 5,790,771.72 5,784,916.13 5,779,164.89 99.90% 5,000.00 4,998.50 5,001.90 100.07% 50,000.00 49,958.33 49,985.22 100.05% 385,904.00 385,625.93 385,776.80 100.04% 303,960.00 304,711.76 304,822.86 100.04% NR 499,185.00 498,704.83 498,737.29 100.01%0.31% 7,034,820.72 7,028,915.49 7,023,488.96 0.25% 0.47% Aa1 99.92%Totals (000's): Aa3 0.55% MKT/Book Aa Aa2 1.01% 0.60% 0.25% Yield Aaa Moody (000's)Par MOODY’S S & P S&P (000's) AAA 736,550.00 736,535.00 AA+5,059,221.72 5,053,379.63 AA 483,904.00 484,502.04 AA-255,960.00 255,793.99 NR 499,185.00 498,704.83 Totals (000's): 7,034,820.72 7,028,915.49 5,047,616.59 100.04% 0.64% 0.29%100.00% 0.32% 99.89% 484,679.79 Par Book Market MKT/Book Yield 736,550.20 498,737.29 255,905.09 100.04% 7,023,488.96 99.92% 0.55% 0.36% 0.31%100.01% COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 65 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss CALTRUST HERITAGE 01/01/2016 .266 190,000,000.00 190,000,000.00 100.000000 190,000,000.00 0.00 FIDELITY PRIME 01/01/2016 .251 155,000,000.00 155,000,000.00 100.000000 155,000,000.00 0.00 FEDERATED PRIME 01/01/2016 .222 170,000,000.00 170,000,000.00 100.000000 170,000,000.00 0.00 JP MORGAN PRIME 01/01/2016 .182 105,000,000.00 105,000,000.00 100.000000 105,000,000.00 0.00 .236 620,000,000.00 620,000,000.00 100.000000 620,000,000.00 0.00 CALTRUST SHT TERM 01/01/2016 .552 54,000,000.00 54,000,000.00 100.000000 54,000,000.00 0.00 .552 54,000,000.00 54,000,000.00 100.000000 54,000,000.00 0.00 UB MANAGED RATE 01/01/2016 .093 250,000,000.00 250,000,000.00 100.000000 250,000,000.00 0.00 .093 250,000,000.00 250,000,000.00 100.000000 250,000,000.00 0.00 US DIST COURTHOUSE 06/15/2020 .975 335,000.00 335,000.00 100.000000 335,000.00 0.00 .975 335,000.00 335,000.00 100.000000 335,000.00 0.00 U.S. TREASURY BILL 09/15/2016 .373 25,000,000.00 24,923,068.75 99.637000 24,909,250.00 -13,818.75 U.S. TREASURY BILL 07/21/2016 .365 25,000,000.00 24,939,166.67 99.718000 24,929,500.00 -9,666.67 .369 50,000,000.00 49,862,235.42 99.677500 49,838,750.00 -23,485.42 U.S. TREASURY BOND 06/30/2017 .750 5,000,000.00 4,971,875.00 99.688000 4,984,400.00 12,525.00 U.S. TREASURY BOND 05/15/2016 .250 25,000,000.00 24,971,679.69 99.930000 24,982,500.00 10,820.31 U.S. TREASURY BOND 05/15/2017 .875 25,000,000.00 25,077,148.44 99.938000 24,984,500.00 -92,648.44 U.S. TREASURY BOND 05/15/2016 .250 25,000,000.00 24,967,773.44 99.930000 24,982,500.00 14,726.56 U.S. TREASURY BOND 05/15/2016 .250 25,000,000.00 24,967,773.44 99.930000 24,982,500.00 14,726.56 U.S. TREASURY BOND 05/15/2016 .250 25,000,000.00 24,971,679.69 99.930000 24,982,500.00 10,820.31 U.S. TREASURY BOND 01/31/2017 .875 25,000,000.00 25,129,882.81 100.008000 25,002,000.00 -127,882.81 U.S. TREASURY BOND 05/15/2016 .250 25,000,000.00 24,984,375.00 99.930000 24,982,500.00 -1,875.00 U.S. TREASURY BOND 05/15/2016 .250 25,000,000.00 24,941,406.25 99.930000 24,982,500.00 41,093.75 U.S. TREASURY BOND 05/15/2016 .250 50,000,000.00 49,947,265.63 99.930000 49,965,000.00 17,734.37 U.S. TREASURY BOND 06/15/2016 .500 25,000,000.00 25,049,804.69 99.992000 24,998,000.00 -51,804.69 U.S. TREASURY BOND 05/15/2016 .250 25,000,000.00 24,994,140.63 99.930000 24,982,500.00 -11,640.63 U.S. TREASURY BOND 06/30/2016 .500 15,000,000.00 15,026,671.80 99.977000 14,996,550.00 -30,121.80 U.S. TREASURY BOND 05/15/2016 .250 25,000,000.00 24,992,187.50 99.930000 24,982,500.00 -9,687.50 U.S. TREASURY BOND 06/15/2016 .500 25,000,000.00 25,034,179.69 99.992000 24,998,000.00 -36,179.69 U.S. TREASURY BOND 08/15/2016 .625 20,000,000.00 20,050,320.00 99.977000 19,995,400.00 -54,920.00 U.S. TREASURY BOND 02/15/2017 .625 20,000,000.00 20,008,593.75 99.746000 19,949,200.00 -59,393.75 U.S. TREASURY BOND 01/15/2017 .750 25,000,000.00 25,095,703.13 99.910000 24,977,500.00 -118,203.13 U.S. TREASURY BOND 10/15/2018 .875 15,000,000.00 14,934,375.00 98.898000 14,834,700.00 -99,675.00 U.S. TREASURY BOND 09/30/2017 .625 10,000,000.00 9,981,250.00 99.309000 9,930,900.00 -50,350.00 U.S. TREASURY BOND 02/15/2018 1.000 10,000,000.00 10,017,968.75 99.688000 9,968,800.00 -49,168.75 U.S. TREASURY BOND 01/15/2018 .875 15,000,000.00 14,996,484.38 99.547000 14,932,050.00 -64,434.38 U.S. TREASURY BOND 05/15/2018 1.000 15,000,000.00 14,981,835.94 99.504000 14,925,600.00 -56,235.94 U.S. TREASURY BOND 05/15/2018 1.000 15,000,000.00 14,980,078.13 99.504000 14,925,600.00 -54,478.13 U.S. TREASURY BOND 01/31/2018 .875 25,000,000.00 24,936,523.44 99.500000 24,875,000.00 -61,523.44 U.S. TREASURY BOND 01/15/2017 .750 25,000,000.00 25,027,343.75 99.910000 24,977,500.00 -49,843.75 U.S. TREASURY BOND 11/30/2017 .625 25,000,000.00 24,854,492.19 99.172000 24,793,000.00 -61,492.19 U.S. TREASURY BOND 05/31/2018 1.000 25,000,000.00 24,945,312.50 99.488000 24,872,000.00 -73,312.50 U.S. TREASURY BOND 02/15/2017 .625 25,000,000.00 24,978,515.63 99.746000 24,936,500.00 -42,015.63 U.S TREASURY BOND 01/15/2018 .875 25,000,000.00 24,943,359.38 99.547000 24,886,750.00 -56,609.38 U.S. TREASURY BOND 11/30/2017 .875 25,000,000.00 24,974,609.38 99.898438 24,974,609.38 0.00 U.S. TREASURY BOND 07/31/2019 1.625 25,000,000.00 25,192,382.81 100.348000 25,087,000.00 -105,382.81 U.S. TREASURY BOND 02/15/2017 .625 25,000,000.00 24,964,843.75 99.746000 24,936,500.00 -28,343.75 U.S. TREASURY BOND 05/31/2019 1.125 25,000,000.00 24,804,687.50 98.883000 24,720,750.00 -83,937.50 U.S. TREASURY BOND 05/31/2019 1.500 25,000,000.00 25,110,351.56 100.094000 25,023,500.00 -86,851.56 U.S. TREASURY BOND 10/31/2019 1.500 25,000,000.00 25,028,320.31 99.688000 24,922,000.00 -106,320.31 U.S. TREASURY BOND 04/30/2019 1.250 25,000,000.00 24,852,539.06 99.363000 24,840,750.00 -11,789.06 .702 840,000,000.00 839,687,734.04 99.770721 838,074,059.38 -1,613,674.66 FHLMC DISC NOTE 02/08/2016 .220 25,000,000.00 24,954,472.22 99.976000 24,994,000.00 39,527.78 FHLMC DISC NOTE 01/20/2016 .170 25,000,000.00 24,968,597.22 99.993000 24,998,250.00 29,652.78 FHLMC DISC NOTE 01/20/2016 .170 25,000,000.00 24,968,597.22 99.993000 24,998,250.00 29,652.78 FHLMC DISC NOTE 01/20/2016 .160 10,000,000.00 9,988,222.22 99.993000 9,999,300.00 11,077.78 FHLMC DISC NOTE 06/29/2016 .335 15,000,000.00 14,954,914.58 99.769000 14,965,350.00 10,435.42 FHLMC DISC NOTE 08/31/2016 .390 25,000,000.00 24,901,416.67 99.607000 24,901,750.00 333.33 FHLMC DISC NOTE 07/22/2016 .275 25,000,000.00 24,943,472.22 99.678000 24,919,500.00 -23,972.22 FHLMC DISC NOTE 10/26/2016 .400 25,000,000.00 24,901,390.00 99.486000 24,871,500.00 -29,890.00 FHLMC DISC NOTE 10/25/2016 .400 25,000,000.00 24,901,666.67 99.488000 24,872,000.00 -29,666.67 FHLMC DISC NOTE 10/31/2016 .400 25,000,000.00 24,900,000.00 99.477000 24,869,250.00 -30,750.00 FHLMC DISC NOTE 09/06/2016 .420 25,000,000.00 24,916,291.67 99.580000 24,895,000.00 -21,291.67 FHLMC DISC NOTE 09/13/2016 .410 25,000,000.00 24,916,576.39 99.568000 24,892,000.00 -24,576.39 FHLMC DISC NOTE 09/26/2016 .410 25,000,000.00 24,912,875.00 99.546000 24,886,500.00 -26,375.00 FHLMC DISC NOTE 10/19/2016 .575 25,000,000.00 24,873,420.14 99.498000 24,874,500.00 1,079.86 FHLMC DISC NOTE 05/20/2016 .510 25,000,000.00 24,946,520.83 99.840000 24,960,000.00 13,479.17 .358 350,000,000.00 348,948,433.05 99.684900 348,897,150.00 -51,283.05 FHLMC 4Yr 11/01/2016 .625 10,000,000.00 9,991,200.00 99.866000 9,986,600.00 -4,600.00 FHLMC 3YrNc1YrE 01/15/2016 .450 5,000,000.00 5,000,000.00 100.008000 5,000,400.00 400.00 FHLMC 4Yr 11/01/2016 .625 4,625,000.00 4,629,301.25 99.866000 4,618,802.50 -10,498.75 FHLMC 1Yr 05/13/2016 .500 25,000,000.00 25,055,500.00 100.009000 25,002,250.00 -53,250.00 FHLMC 2YrNc1YrE 12/30/2016 .750 25,000,000.00 25,000,000.00 100.266000 25,066,500.00 66,500.00 FHLMC 1Yr 05/13/2016 .500 12,500,000.00 12,516,625.00 100.009000 12,501,125.00 -15,500.00 FHLMC 1Yr 05/27/2016 .400 9,500,000.00 9,502,185.00 99.967000 9,496,865.00 -5,320.00 FHLMC 1Yr 05/13/2016 .500 25,000,000.00 25,031,500.00 100.009000 25,002,250.00 -29,250.00 FHLMC 1Yr 05/13/2016 .500 6,059,000.00 6,069,239.71 100.009000 6,059,545.31 -9,694.40 FHLMC 5YrNc3MoB 05/11/2020 1.500 10,000,000.00 10,000,000.00 100.071000 10,007,100.00 7,100.00 FHLMC 1Yr 05/13/2016 .500 27,307,000.00 27,352,602.69 100.009000 27,309,457.63 -43,145.06 FHLMC 5YrNc3MoB 05/21/2020 1.500 5,000,000.00 5,000,000.00 100.105000 5,005,250.00 5,250.00 FHLMC 5YrNc3MoB 05/27/2020 1.500 5,000,000.00 5,000,000.00 100.108000 5,005,400.00 5,400.00 FHLMC 5YrNc3MoB 05/28/2020 1.625 5,000,000.00 5,000,000.00 100.149000 5,007,450.00 7,450.00 FHLMC 5YrNc3MoB 05/26/2020 1.500 15,000,000.00 15,000,000.00 100.114000 15,017,100.00 17,100.00 FHLMC 5YrNc3MoB 05/27/2020 1.500 5,000,000.00 5,000,000.00 100.108000 5,005,400.00 5,400.00 FHLMC 1Yr 05/13/2016 .500 10,000,000.00 10,017,300.00 100.009000 10,000,900.00 -16,400.00 FHLMC 3YrNc3MoB 05/21/2018 1.200 7,550,000.00 7,534,900.00 99.638000 7,522,669.00 -12,231.00 FHLMC 3YrNc1.5YrE 06/22/2018 1.200 15,000,000.00 14,986,800.00 99.635000 14,945,250.00 -41,550.00 FHLMC 3YrNc6MoE 06/22/2018 1.250 25,000,000.00 24,993,750.00 99.733000 24,933,250.00 -60,500.00 FHLMC 1.5Yr 01/27/2017 .500 25,000,000.00 24,973,250.00 99.598000 24,899,500.00 -73,750.00 FHLMC 3.5YrNc6MoE 02/25/2019 1.450 20,000,000.00 20,000,000.00 100.047000 20,009,400.00 9,400.00 313396SV6 313396SA2 912828VG2 912828VR8 912828H37 912828XA3 912828XA3 912828UJ7 912828SX9 Month End Portfolio Holdings 912828WW6 912828B74 1.409 3.449 Fund: 1 POOL FUND 1.113 1.088 2.379 912828WL0 Yield To Maturity Modified Duration Years To MaturityCUSIP .742 .570 1.065 1.077 3134G7RU7 1.450 3.053 3.156 1.230 2.430 2.477 3134G66M0 1.259 2.429 2.477 .330 .366 .367 3134G6WU3 1.268 2.344 2.389 1.500 4.239 4.405 3134G6YZ0 1.500 4.242 4.408 1.500 4.242 4.408 3134G6YX5 1.625 4.232 4.411 .345 .366 .367 3134G6XJ7 1.500 4.226 4.392 .345 .366 .367 3134G6VG5 1.500 4.198 4.364 .380 .404 .405 3137EADQ9 .385 .366 .367 3134G5RF4 .750 .994 1.000 3137EADQ9 .380 .366 .367 .600 .829 .838 3137EADQ9 .350 .366 .367 3134G3S50 .647 .829 .838 3134G33R9 .450 .041 .041 3134G3S50 .359 .537 .539 .578 .798 .803 .511 .384 .386 .411 .701 .704 313396H48 .411 .736 .740 .402 .832 .836 313396E82 .421 .682 .685 313396M75 .402 .818 .822 313396L92 .402 .815 .819 313396M26 .392 .665 .668 .276 .557 .559 .160 .055 .055 313396YT4 .336 .494 .496 313396SA2 .107 .107 .170 .055 .055 .170 .055 .055 .220 .714 1.421 1.449 1.470 3.704 3.836 912828ST8 1.431 3.245 3.332 1.354 3.336 3.416 1.370 3.317 3.416 1.129 912828H37 .982 2.007 2.044 912828M72 .926 1.895 1.918 3.584 2.416 912828B74 .695 1.114 1.129 .655 1.030 1.044 .915 1.899 1.918 1.053 2.335 2.373 .990 2.051 2.088 .886 2.008 2.044 1.049 2.335 2.373 .920 2.088 2.129 912828TS9 912828H94 1.025 2.742 2.792 .723 1.734 1.751 912828B74 .596 1.114 1.129 .433 1.031 1.044 912828L81 .364 .456 .458 .381 .619 .625 912828WQ9 .345 .497 .499 912828VC1 .281 .372 .373 .321 .456 .458 912828VC1 .273 .372 .373 .418 .372 .373 912828VC1 .329 .372 .373 .641 1.073 1.088 912828VC1 .292 .372 .373 .335 .372 .373 912828VC1 .324 .372 .373 .752 1.361 1.373 912828VC1 .335 .372 .373 .932 1.487 1.499 .324 .372 .373 .370 .630 .633 .374 .706 .710 US TREAS BILLS .366 .554 .556912796GW3 912796HE2 .975 2.280 4.460 .975 2.280 4.460 .093 .003 .003 .093 .003 .003 .552 .003 .003 .552 .003 .003 .003 .222 .003 .003 .236 .003 .003 WFJXX .266 .003 .003 .182 .003 .003 .251 .003 MMKT FIPXX POIXX CALTRUST FND CJPXX DDA/PASSBK 912828VC1 912828F62 US TREAS BONDS 912828A91 LOCAL AGCY OBLIG 912828VC1 912828VG2 313396ZS5 313396F73 3134G5WA9 3134G6ZF3 3137EADQ9 912828A91 912828WH9 912828VC1 912828SC5 313396SA2 313396E25 3137EADQ9 3137EADQ9 3134G6YZ0 3134G7AE1 3137EADU0 CLTR CASH LAO 912828TB6 313396L35 313396XB4 FHLMC BONDS FHLMC DISC NOTES 912828UA6 912828VE7 COUNTY OF RIVERISIDE TREASURER-TAX COLLECTOR 766 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss Month End Portfolio Holdings Yield To Maturity Modified Duration Years To MaturityCUSIP FHLMC 3.5YrNc6MoE 02/26/2019 1.450 10,000,000.00 10,000,000.00 100.066000 10,006,600.00 6,600.00 FHLMC 1.5Yr 01/27/2017 .500 15,000,000.00 14,980,119.90 99.598000 14,939,700.00 -40,419.90 FHLMC 5YrNc3MoB 09/14/2020 1.900 10,000,000.00 10,000,000.00 100.253000 10,025,300.00 25,300.00 FHLMC 5YrNc3MoB 09/14/2020 1.850 8,750,000.00 8,750,000.00 100.241000 8,771,087.50 21,087.50 FHLMC 5YrNc3MoB 09/14/2020 1.900 8,000,000.00 8,000,000.00 100.253000 8,020,240.00 20,240.00 FHLMC 5YrNc3MoB 09/24/2020 1.650 15,000,000.00 15,000,000.00 100.119000 15,017,850.00 17,850.00 FHLMC 5YrNc3MoB 09/30/2020 1.750 10,000,000.00 10,000,000.00 100.144000 10,014,400.00 14,400.00 FHLMC 5YrNc3MoB 10/29/2020 1.850 15,000,000.00 15,000,000.00 100.048000 15,007,200.00 7,200.00 FHLMC 5YrNc3MoB 10/29/2020 1.750 20,000,000.00 20,000,000.00 100.044000 20,008,800.00 8,800.00 FHLMC 5YrNc3MoB 10/29/2020 1.550 10,000,000.00 10,000,000.00 100.032000 10,003,200.00 3,200.00 FHLMC 5YrNc3MoB 10/29/2020 1.500 10,000,000.00 10,000,000.00 100.032000 10,003,200.00 3,200.00 FHLMC 2YrNc6MoB 10/27/2017 .750 10,000,000.00 10,000,000.00 99.462000 9,946,200.00 -53,800.00 FHLMC 5YrNc3MoB 10/29/2020 1.600 10,000,000.00 10,000,000.00 98.237000 9,823,700.00 -176,300.00 FHLMC 5YrNc3MoB 10/14/2020 1.800 10,000,000.00 10,000,000.00 100.018000 10,001,800.00 1,800.00 FHLMC 5YrNc3MoB 10/15/2020 1.750 9,000,000.00 9,000,000.00 100.015000 9,001,350.00 1,350.00 FHLMC 3YrNc3MoB 10/29/2018 1.250 25,000,000.00 25,000,000.00 99.436000 24,859,000.00 -141,000.00 FHLMC 5YrNc3MoB 10/29/2020 1.600 15,000,000.00 15,000,000.00 98.237000 14,735,550.00 -264,450.00 FHLMC 1.25Yr 01/27/2017 .500 25,000,000.00 25,015,000.00 99.598000 24,899,500.00 -115,500.00 FHLMC 3YrNc6MoB 10/29/2018 1.050 5,000,000.00 5,000,000.00 98.941000 4,947,050.00 -52,950.00 FHLMC 3YrNc6MoB 10/29/2018 1.050 10,000,000.00 10,000,000.00 98.941000 9,894,100.00 -105,900.00 FHLMC 2YrNc6MoE 11/16/2017 .750 15,000,000.00 15,000,000.00 99.322000 14,898,300.00 -101,700.00 FHLMC 5YrNc6MoB 10/29/2020 1.125 15,000,000.00 15,000,000.00 98.841000 14,826,150.00 -173,850.00 FHLMC 5YrNc3MoB 11/25/2020 1.600 14,160,000.00 14,160,000.00 100.000000 14,160,000.00 0.00 FHLMC 5YrNc3MoB 11/24/2020 1.700 10,000,000.00 10,000,000.00 100.000000 10,000,000.00 0.00 FHLMC 5YrNc3MoB 12/02/2020 1.750 10,000,000.00 10,000,000.00 100.012000 10,001,200.00 1,200.00 FHLMC 3YrNc3MoB 11/26/2018 1.400 5,000,000.00 5,000,000.00 99.773000 4,988,650.00 -11,350.00 FHLMC 3YrNc3MoB 11/26/2018 1.400 5,000,000.00 5,000,000.00 99.773000 4,988,650.00 -11,350.00 FHLMC 5YrNc3MoB 12/02/2020 1.750 7,165,000.00 7,165,000.00 100.012000 7,165,859.80 859.80 FHLMC 4YrNc3MoB 05/24/2019 1.250 15,000,000.00 15,000,000.00 99.965000 14,994,750.00 -5,250.00 FHLMC 5YrNc3MoB 12/09/2020 1.875 15,000,000.00 15,000,000.00 99.009000 14,851,350.00 -148,650.00 FHLMC 5YrNc3MoB 11/23/2020 1.500 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 FHLMC 5YrNc3MoB 11/25/2020 1.500 5,000,000.00 5,000,000.00 99.565000 4,978,250.00 -21,750.00 FHLMC 4YrNc3MoB 05/24/2019 1.250 15,000,000.00 15,000,000.00 99.752000 14,962,800.00 -37,200.00 FHLMC 5YrNc3MoB 12/30/2020 1.875 9,240,000.00 9,240,000.00 100.042000 9,243,880.80 3,880.80 FHLMC 5YrNc3MoB 12/30/2020 1.875 11,500,000.00 11,500,000.00 100.042000 11,504,830.00 4,830.00 FHLMC 5YrNc3MoB 12/30/2020 1.900 15,000,000.00 15,000,000.00 99.635000 14,945,250.00 -54,750.00 FHLMC 5YrNc3MoB 12/30/2020 1.900 15,000,000.00 15,000,000.00 99.635000 14,945,250.00 -54,750.00 FHLMC 3.5YrNc1YrE 06/17/2019 1.500 25,000,000.00 25,000,000.00 99.777000 24,944,250.00 -55,750.00 FHLMC 2.5YrNc6MoE 06/22/2018 1.250 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 FHLMC 3.5YrNc6MoE 06/28/2019 1.550 25,000,000.00 25,000,000.00 99.886000 24,971,500.00 -28,500.00 FHLMC 5YrNc3MoB 12/29/2020 1.500 10,000,000.00 10,000,000.00 99.883000 9,988,300.00 -11,700.00 FHLMC 2Yr 12/15/2017 1.000 20,000,000.00 19,979,400.00 99.733000 19,946,600.00 -32,800.00 FHLMC 5YrNc3MoB 12/30/2020 1.900 10,650,000.00 10,650,000.00 99.635000 10,611,127.50 -38,872.50 FHLMC 3.25YrNc6MoE 03/29/2019 1.410 15,000,000.00 15,000,000.00 99.825000 14,973,750.00 -26,250.00 FHLMC 3YrNc3MoB 06/28/2019 1.400 20,000,000.00 20,000,000.00 99.992000 19,998,400.00 -1,600.00 FHLMC 4YrNC6MoB 12/30/2019 1.500 15,000,000.00 15,000,000.00 99.788000 14,968,200.00 -31,800.00 1.250 901,006,000.00 901,093,673.55 99.797958 899,185,590.04 -1,908,083.51 FNMA DISC NOTE 01/19/2016 .175 25,000,000.00 24,969,496.53 99.994000 24,998,500.00 29,003.47 FNMA DISC NOTE 01/19/2016 .145 26,000,000.00 25,975,285.56 99.994000 25,998,440.00 23,154.44 FNMA DISC NOTE 06/13/2016 .340 25,000,000.00 24,926,333.33 99.790000 24,947,500.00 21,166.67 FNMA DISC NOTE 06/13/2016 .370 15,000,000.00 14,952,670.83 99.790000 14,968,500.00 15,829.17 FNMA DISC NOTE 06/13/2016 .370 25,000,000.00 24,921,118.06 99.790000 24,947,500.00 26,381.94 FNMA DISC NOTE 08/15/2016 .400 25,000,000.00 24,905,000.00 99.633000 24,908,250.00 3,250.00 FNMA DISC NOTE 08/15/2016 .400 25,000,000.00 24,907,500.00 99.633000 24,908,250.00 750.00 FNMA DISC NOTE 08/17/2016 .270 25,000,000.00 24,940,937.50 99.630000 24,907,500.00 -33,437.50 FNMA DISC NOTE 07/18/2016 .250 25,000,000.00 24,950,520.83 99.684000 24,921,000.00 -29,520.83 FNMA DISC NOTE 09/23/2016 .300 25,000,000.00 24,927,083.33 99.551000 24,887,750.00 -39,333.33 FNMA DISC NOTE 08/18/2016 .280 25,000,000.00 24,939,916.67 99.628000 24,907,000.00 -32,916.67 FNMA DISC NOTE 07/18/2016 .265 15,500,000.00 15,469,307.85 99.684000 15,451,020.00 -18,287.85 FNMA DISC NOTE 07/22/2016 .250 25,000,000.00 24,953,645.83 99.678000 24,919,500.00 -34,145.83 FNMA DISC NOTE 05/25/2016 .460 25,000,000.00 24,944,736.11 99.834000 24,958,500.00 13,763.89 FNMA DISC NOTE 10/11/2016 .660 25,000,000.00 24,862,500.00 99.512000 24,878,000.00 15,500.00 FNMA DISC NOTE 10/12/2016 .640 25,000,000.00 24,871,555.56 99.510000 24,877,500.00 5,944.44 FNMA DISC NOTE 11/14/2016 .650 25,000,000.00 24,855,104.17 99.448000 24,862,000.00 6,895.83 FNMA DISC NOTE 11/23/2016 .630 15,500,000.00 15,410,758.75 99.432000 15,411,960.00 1,201.25 FNMA DISC NOTE 10/26/2016 .610 25,217,000.00 25,088,386.30 99.486000 25,087,384.62 -1,001.68 .391 447,217,000.00 445,771,857.21 99.671089 445,746,054.62 -25,802.59 FNMA 5Yr 02/04/2016 .364 10,000,000.00 9,990,000.00 99.997000 9,999,700.00 9,700.00 FNMA 5YrNc1YrB 02/28/2018 1.000 10,000,000.00 10,000,000.00 100.038000 10,003,800.00 3,800.00 FNMA 5YrNc1YrB 02/28/2018 1.000 5,000,000.00 4,998,500.00 100.038000 5,001,900.00 3,400.00 FNMA 3.5YrNc6MoB 12/27/2016 .680 12,000,000.00 12,006,600.00 100.016000 12,001,920.00 -4,680.00 FNMA 3.5YrNc1YrB 11/28/2016 .500 10,000,000.00 9,996,000.00 100.008000 10,000,800.00 4,800.00 FNMA 3.5YrNc1YrB 11/28/2016 .500 752,000.00 739,216.00 100.008000 752,060.16 12,844.16 FNMA 5YrNc6MoB 06/12/2018 1.000 10,000,000.00 9,911,500.00 100.101000 10,010,100.00 98,600.00 FNMA 5YrNc6MoB 02/20/2020 1.500 9,975,000.00 9,975,000.00 100.085000 9,983,478.75 8,478.75 FNMA 1Yr 07/05/2016 .375 25,000,000.00 24,991,750.00 99.879000 24,969,750.00 -22,000.00 FNMA 1.25Yr 09/06/2016 .520 20,255,000.00 20,265,390.82 99.682000 20,190,589.10 -74,801.72 FNMA 1.25Yr 08/26/2016 .625 25,000,000.00 25,044,750.00 100.005000 25,001,250.00 -43,500.00 FNMA 10.5Mo 07/05/2016 .375 16,597,000.00 16,597,000.00 99.879000 16,576,917.63 -20,082.37 FNMA 5YrNc6MoB 10/15/2020 1.500 10,550,000.00 10,550,000.00 100.018000 10,551,899.00 1,899.00 FNMA 5YrNc6MoB 10/29/2020 1.500 10,000,000.00 10,000,000.00 98.529000 9,852,900.00 -147,100.00 FNMA 5YrNc6MoB 10/29/2020 1.500 15,855,000.00 15,855,000.00 98.980000 15,693,279.00 -161,721.00 FNMA 3YrNc1YrE 11/28/2018 1.200 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 FNMA 3YrNc1YrE 11/28/2018 1.200 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 FNMA 3YrNc1YrE 11/28/2018 1.200 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 FNMA 3YrNc6MoE 11/27/2018 1.250 15,000,000.00 15,000,000.00 99.655000 14,948,250.00 -51,750.00 FNMA 5YrNc6MoB 12/10/2020 1.800 15,000,000.00 15,000,000.00 100.000000 15,000,000.00 0.00 FNMA 3YrNc5MoE 11/23/2018 1.450 10,000,000.00 9,999,600.00 99.996000 9,999,600.00 0.00 .942 245,984,000.00 245,920,306.82 99.818766 245,538,193.64 -382,113.18 FHLB DISC NOTE 01/29/2016 .200 24,000,000.00 23,964,133.33 99.988333 23,997,200.00 33,066.67 FHLB DISC NOTE 06/02/2016 .300 25,000,000.00 24,923,958.33 99.813000 24,953,250.00 29,291.67 FHLB DISC NOTE 06/03/2016 .310 25,000,000.00 24,921,423.61 99.811778 24,952,944.44 31,520.83 FHLB DISC NOTE 02/03/2016 .200 6,941,000.00 6,931,591.09 99.986250 6,940,045.61 8,454.52 FHLB DISC NOTE 02/10/2016 .200 5,000,000.00 4,994,027.78 99.983333 4,999,166.67 5,138.89 FHLB DISC NOTE 08/05/2016 .400 25,000,000.00 24,898,611.11 99.716694 24,929,173.61 30,562.50 FHLB DISC NOTE 07/15/2016 .380 10,000,000.00 9,963,794.44 99.744111 9,974,411.11 10,616.67 FHLB DISC NOTE 09/06/2016 .450 25,000,000.00 24,886,562.50 99.571167 24,892,791.67 6,229.17 3134G7ZQ7 3134G7U33 3134G7TJ0 3134G86H7 3137EADU0 3134G7ZB0 3134G7S77 3134G74J7 3134G8AN9 313588ZN8 313384E88 3134G8DD8 313384SK6 3136G2TY3 3136G2QT7 3136G2N94 3136G2PM3 3135G0XP3 3136FP6X0 3134G7V73 .381 .537 .540 .452 .681 .685 .200 .112 .112 .402 .594 .597 .422 .311 .423 .425 .200 .093 .093 313384XR5 313384SQ3 .079 .079 313384XQ7 .301 .420 1.451 2.821 2.899 .956 2.117 2.187 1.200 2.847 2.912 1.250 .200 2.842 2.910 1.800 4.703 4.948 1.200 2.847 2.912 1.200 2.847 2.912 1.500 4.629 4.833 1.500 4.629 4.833 .375 .509 .512 1.500 4.590 4.795 .479 .678 .685 3135G0YE7 .477 .650 .655 3133EESQ4 3136G2DW4 1.500 3.975 4.142 .405 .509 .5123135G0XP3 3136G1LT4 1.009 .903 .912 1.302 2.412 2.4493136G1MU0 3136G14F3 .665 .984 .992 .512 .905 .9123136G1LT4 3136G1DA4 1.000 2.123 2.164 1.006 2.123 2.1643136G1DA4 .756 .096 .096 313588M28 .613 .816 .822 .392 .567 .570 313588P58 .654 .868 .874 313588Q65 .634 .892 .899 313588K38 .664 .775 .781 .643 .778 .784 .250 .557 .559 .461 .398 .400 .281 .631 .633 .266 .546 .548 .250 .546 .548 .301 .729 .732 313588C29 .401 .622 .625 313588C45 .271 .628 .630 .371 .450 .452 313588C29 .402 .622 .625 .341 .450 .452 313588YB5 .371 .450 .452 .175 .052 .052 313588RZ0 .145 .052 .052 313588RZ0 1.238 2.974 3.087 1.400 3.396 3.493 1.500 3.868 4.000 1.900 4.748 5.003 3134G8EL9 1.410 3.150 3.244 1.500 4.794 5.000 3137EADX4 1.051 1.935 1.959 1.250 2.429 2.477 1.900 3134G8EA3 1.550 3.405 3.493 3134G8AN9 3134G8DK2 1.900 4.748 5.003 4.748 5.003 1.500 3.359 3.463 1.875 4.752 5.003 1.875 4.752 5.003 1.500 4.701 4.907 1.250 3.312 3.397 3134G85L9 1.500 4.695 4.901 3134G86L8 3134G84E6 1.250 3.312 3.397 1.875 4.691 4.945 3134G85H8 1.400 2.832 2.907 1.750 4.688 4.9263134G84R7 1.750 4.688 4.926 1.400 2.832 2.907 1.600 4.688 4.907 1.700 4.672 4.904 .750 1.857 1.8793134G73L3 1.125 4.677 4.833 1.050 2.790 2.830 3134G72T7 1.050 2.790 2.830 3134G72T7 1.600 4.616 4.8333134G7V73 .453 1.066 1.077 1.750 4.558 4.795 3134G7Z20 1.250 2.764 2.830 1.600 4.616 4.833 1.800 4.549 4.792 1.500 4.629 4.833 3134G7V24 .750 1.804 1.825 1.750 4.597 4.833 1.550 4.622 4.833 1.750 4.520 4.753 3134G7B67 1.850 4.584 4.833 3134G7YH8 1.900 4.454 4.710 1.650 4.513 4.737 3134G7TJ0 1.900 4.454 4.710 3134G7ST9 1.850 4.460 4.710 1.450 3.056 3.159 3137EADU0 .592 1.065 1.077 3134G86U8 3134G87C7 313588ZN8 313588XG5 313588G90 313588C52 313588ZS7 3134G7N23 3134G7U90 3134G7RV5 3134G7XT3 3136G2V61 3135G0H30 3134G82M0 3134G84R7 3134G85H8 3134G8E62 3134G8AN9 3134G87C7 313588K46 3136G2SX6 313384SX8 FHLB DISC NOTES 313384A82 313384ZK8 3134G8EX3 3134G8FH7 FNMA DISC NOTES 3136G2SX6 3136G2SX6 FNMA BONDS 313588YB5 313588YB5 COUNTY OF RIVERISIDE TREASURER-TAX COLLECTOR 867 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss Month End Portfolio Holdings Yield To Maturity Modified Duration Years To MaturityCUSIP FHLB DISC NOTE 07/06/2016 .390 25,000,000.00 24,918,750.00 99.755861 24,938,965.28 20,215.28 FHLB DISC NOTE 08/15/2016 .290 25,000,000.00 24,938,375.00 99.703639 24,925,909.72 -12,465.28 FHLB DISC NOTE 07/01/2016 .340 25,000,000.00 24,943,097.22 99.762389 24,940,597.22 -2,500.00 FHLB DISC NOTE 07/15/2016 .340 25,000,000.00 24,939,791.67 99.744111 24,936,027.78 -3,763.89 FHLB DISC NOTE 07/05/2016 .340 25,000,000.00 24,942,625.00 99.757167 24,939,291.67 -3,333.33 FHLB DISC NOTE 07/06/2016 .340 25,000,000.00 24,942,388.89 99.755861 24,938,965.28 -3,423.61 FHLB DISC NOTE 09/13/2016 .480 25,000,000.00 24,898,000.00 99.559111 24,889,777.78 -8,222.22 FHLB DISC NOTE 10/21/2016 .558 24,783,000.00 24,658,923.91 99.495000 24,657,845.85 -1,078.06 FHLB DISC NOTE 06/20/2016 .500 25,000,000.00 24,930,902.78 99.791000 24,947,750.00 16,847.22 FHLB DISC NOTE 06/21/2016 .560 25,000,000.00 24,923,388.89 99.789778 24,947,444.44 24,055.55 FHLB DISC NOTE 06/24/2016 .560 25,000,000.00 24,922,222.22 99.786111 24,946,527.78 24,305.56 FHLB DISC NOTE 06/20/2016 .540 25,000,000.00 24,926,500.00 99.791000 24,947,750.00 21,250.00 FHLB DISC NOTE 10/03/2016 .620 25,000,000.00 24,870,833.33 99.526000 24,881,500.00 10,666.67 FHLB DISC NOTE 05/20/2016 .550 25,000,000.00 24,938,506.94 99.863889 24,965,972.22 27,465.28 FHLB DISC NOTE 01/20/2016 .265 5,600,000.00 5,598,598.44 99.992083 5,599,556.67 958.23 FHLB DISC NOTE 11/28/2016 .700 9,500,000.00 9,438,118.06 99.423000 9,445,185.00 7,066.94 FHLB DISC NOTE 05/24/2016 .520 18,000,000.00 17,961,780.00 99.860000 17,974,800.00 13,020.00 FHLB DISC NOTE 05/20/2016 .490 7,000,000.00 6,986,375.28 99.863889 6,990,472.22 4,096.94 .426 535,824,000.00 534,163,279.82 99.744192 534,453,322.02 290,042.20 FHLB 5YrNC3MoB 05/23/2018 .750 10,000,000.00 10,000,000.00 99.208000 9,920,800.00 -79,200.00 FHLB 5YrNc6MoB 05/25/2018 .800 10,000,000.00 10,000,000.00 99.859000 9,985,900.00 -14,100.00 FHLB 5YrNc1YrB 06/12/2018 1.000 10,000,000.00 10,000,000.00 99.811000 9,981,100.00 -18,900.00 FHLB 5YrNc1YrB 06/12/2018 1.000 10,000,000.00 10,000,000.00 99.811000 9,981,100.00 -18,900.00 FHLB 5YrNc3MoB 06/19/2018 1.000 5,000,000.00 5,000,000.00 100.005000 5,000,250.00 250.00 FHLB 5YrNc3MoB 06/19/2018 1.000 5,000,000.00 5,000,000.00 100.005000 5,000,250.00 250.00 FHLB 5YrNc3MoB 06/19/2018 1.000 5,000,000.00 5,000,000.00 100.005000 5,000,250.00 250.00 FHLB 5YrNc3MoB 06/19/2018 1.000 10,000,000.00 10,000,000.00 100.005000 10,000,500.00 500.00 FHLB 5YrNc3MoB 06/20/2018 1.250 3,719,720.08 3,719,720.08 99.523000 3,701,977.02 -17,743.06 FHLB 1Yr 01/29/2016 .250 15,000,000.00 15,000,000.00 100.007000 15,001,050.00 1,050.00 FHLB 1Yr 01/29/2016 .250 25,000,000.00 25,000,000.00 100.007000 25,001,750.00 1,750.00 FHLB 1Yr 01/26/2016 .300 25,000,000.00 25,000,000.00 100.010000 25,002,500.00 2,500.00 FHLB 1Yr 02/29/2016 .350 6,500,000.00 6,500,000.00 100.008000 6,500,520.00 520.00 FHLB 10Mo 02/24/2016 .230 10,000,000.00 9,998,700.00 99.998000 9,999,800.00 1,100.00 FHLB 1.25Yr 06/24/2016 .375 25,000,000.00 25,002,650.00 99.875000 24,968,750.00 -33,900.00 FHLB 1Yr 05/04/2016 .300 15,000,000.00 14,996,250.00 99.947000 14,992,050.00 -4,200.00 FHLB 1YrNc7MoE 06/17/2016 .400 15,000,000.00 15,000,000.00 99.907000 14,986,050.00 -13,950.00 FHLB 1Yr 06/17/2016 .350 25,000,000.00 25,000,000.00 99.913000 24,978,250.00 -21,750.00 FHLB 1Yr 06/17/2016 .350 25,000,000.00 25,000,000.00 99.913000 24,978,250.00 -21,750.00 FHLB 1Yr 06/30/2016 .320 25,000,000.00 24,985,250.00 99.897000 24,974,250.00 -11,000.00 FHLB 2YrNc1YrE 07/06/2017 .910 10,000,000.00 10,000,000.00 99.709000 9,970,900.00 -29,100.00 FHLB 1Yr 07/28/2016 .375 9,700,000.00 9,697,963.00 99.891000 9,689,427.00 -8,536.00 FHLB 2.5YrNc1YrE 02/26/2018 1.100 15,000,000.00 15,000,000.00 99.479000 14,921,850.00 -78,150.00 FHLB 3.25YrNc1YrE 11/26/2018 1.300 10,000,000.00 9,996,800.00 100.180000 10,018,000.00 21,200.00 FHLB 1YrNc7MoE 09/09/2016 .510 10,000,000.00 10,004,300.00 99.960000 9,996,000.00 -8,300.00 FHLB 1YrNc3MoB 11/25/2016 .550 25,000,000.00 25,000,000.00 99.865000 24,966,250.00 -33,750.00 FHLB 2Yr 12/01/2017 1.020 10,000,000.00 10,000,000.00 100.000000 10,000,000.00 0.00 FHLB 1Yr 12/14/2016 .750 15,370,000.00 15,360,624.30 99.969000 15,365,235.30 4,611.00 FHLB 3YrNc1YrE 12/28/2018 1.360 15,000,000.00 15,000,000.00 99.704000 14,955,600.00 -44,400.00 FHLB 3YrNc6MoB 12/28/2018 1.500 10,000,000.00 10,000,000.00 99.869000 9,986,900.00 -13,100.00 FHLB 5YrNc6MoB 03/30/2020 1.550 10,000,000.00 10,000,000.00 99.902000 9,990,200.00 -9,800.00 FHLB 4YrNc6MoB 12/30/2019 1.750 10,000,000.00 10,000,000.00 99.539000 9,953,900.00 -46,100.00 .660 430,289,720.08 430,262,257.38 99.879125 429,769,609.32 -492,648.06 FFCB DISC NOTE 01/22/2016 .200 25,000,000.00 24,965,555.56 99.992000 24,998,000.00 32,444.44 FFCB DISC NOTE 01/22/2016 .200 25,000,000.00 24,965,694.44 99.992000 24,998,000.00 32,305.56 FFCB DISC NOTE 06/08/2016 .360 6,086,000.00 6,067,315.98 99.796000 6,073,584.56 6,268.58 FFCB DISC NOTE 07/25/2016 .410 15,000,000.00 14,940,208.50 99.673000 14,950,950.00 10,741.50 FFCB DISC NOTE 07/25/2016 .410 25,000,000.00 24,900,631.94 99.673000 24,918,250.00 17,618.06 FFCB DISC NOTE 06/06/2016 .370 15,000,000.00 14,954,675.00 99.799000 14,969,850.00 15,175.00 FFCB DISC NOTE 06/07/2016 .380 23,914,000.00 23,839,786.89 99.798000 23,865,693.72 25,906.83 FFCB DISC NOTE 09/01/2016 .440 25,000,000.00 24,888,472.22 99.588000 24,897,000.00 8,527.78 FFCB DISC NOTE 09/01/2016 .440 25,000,000.00 24,889,083.33 99.588000 24,897,000.00 7,916.67 FFCB DISC NOTE 09/13/2016 .360 50,000,000.00 49,832,000.00 99.568000 49,784,000.00 -48,000.00 FFCB DISC NOTE 08/29/2016 .330 25,000,000.00 24,926,895.83 99.610000 24,902,500.00 -24,395.83 FFCB DISC NOTE 09/12/2016 .340 25,000,000.00 24,921,375.00 99.569000 24,892,250.00 -29,125.00 FFCB DISC NOTE 07/27/2016 .310 25,000,000.00 24,939,506.94 99.670000 24,917,500.00 -22,006.94 FFCB DISC NOTE 07/27/2016 .310 25,000,000.00 24,939,506.94 99.670000 24,917,500.00 -22,006.94 FFCB DISC NOTE 07/29/2016 .310 25,000,000.00 24,939,291.67 99.666000 24,916,500.00 -22,791.67 FFCB DISC NOTE 09/07/2016 .340 25,000,000.00 24,923,972.22 99.578000 24,894,500.00 -29,472.22 FFCB DISC NOTE 07/06/2016 .300 9,500,000.00 9,479,654.17 99.704000 9,471,880.00 -7,774.17 FFCB DISC NOTE 10/13/2016 .460 25,000,000.00 24,890,430.56 99.509000 24,877,250.00 -13,180.56 FFCB DISC NOTE 07/28/2016 .390 25,000,000.00 24,927,958.33 99.668000 24,917,000.00 -10,958.33 .351 444,500,000.00 443,132,015.52 99.675862 443,059,208.28 -72,807.24 FFCB 5Yr 04/20/2016 .472 10,000,000.00 9,995,000.00 100.005000 10,000,500.00 5,500.00 FFCB 2Yr 03/03/2016 .375 10,000,000.00 10,001,000.00 100.034000 10,003,400.00 2,400.00 FFCB 5Yr 10/10/2019 .363 15,000,000.00 15,000,000.00 99.350000 14,902,500.00 -97,500.00 FFCB 5Yr 10/10/2019 .363 25,000,000.00 25,000,000.00 99.350000 24,837,500.00 -162,500.00 FFCB 1.25Yr 01/11/2016 .270 25,000,000.00 25,016,250.00 100.003000 25,000,750.00 -15,500.00 FFCB 5Yr 10/10/2019 .363 10,000,000.00 9,997,560.00 99.350000 9,935,000.00 -62,560.00 FFCB 1.25Yr 01/29/2016 .230 10,000,000.00 9,997,500.00 100.011000 10,001,100.00 3,600.00 FFCB 1.25Yr 01/29/2016 .230 15,000,000.00 14,996,250.00 100.011000 15,001,650.00 5,400.00 FFCB 1.25Yr 01/29/2016 .230 25,000,000.00 25,000,000.00 100.011000 25,002,750.00 2,750.00 FFCB 1Yr 01/04/2016 .220 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 FFCB 1Yr 01/22/2016 .230 15,070,000.00 15,070,000.00 100.011000 15,071,657.70 1,657.70 FFCB 1Yr 01/21/2016 .240 25,000,000.00 25,000,000.00 100.007000 25,001,750.00 1,750.00 FFCB 1.25Yr 05/06/2016 .350 25,000,000.00 25,000,000.00 99.988000 24,997,000.00 -3,000.00 FFCB 1Yr 02/09/2016 .250 10,000,000.00 10,000,000.00 100.008000 10,000,800.00 800.00 FFCB 1Yr 02/02/2016 .250 5,250,000.00 5,248,766.25 100.009000 5,250,472.50 1,706.25 FFCB 3YrNcYr1C 05/13/2016 .375 10,000,000.00 10,000,000.00 99.991000 9,999,100.00 -900.00 FFCB 1Yr 05/13/2016 .400 12,296,000.00 12,303,807.96 99.973000 12,292,680.08 -11,127.88 FFCB 1.25Yr 05/06/2016 .350 25,000,000.00 25,000,000.00 99.988000 24,997,000.00 -3,000.00 FFCB 1Yr 02/17/2016 .320 15,000,000.00 15,001,500.00 100.021000 15,003,150.00 1,650.00 FFCB 1Yr 02/26/2016 .280 15,000,000.00 15,000,000.00 99.996000 14,999,400.00 -600.00 FFCB 1Yr 02/26/2016 .280 10,000,000.00 9,998,600.00 99.996000 9,999,600.00 1,000.00 FFCB 1Yr 03/04/2016 .280 15,000,000.00 15,000,000.00 100.006000 15,000,900.00 900.00 FFCB 1.25Yr 06/27/2016 .500 25,000,000.00 25,000,000.00 99.972000 24,993,000.00 -7,000.00 FFCB 1.25Yr 05/06/2016 .350 25,000,000.00 25,003,750.00 99.988000 24,997,000.00 -6,750.00 FFCB 1.25Yr 05/06/2016 .350 25,000,000.00 25,005,750.00 99.988000 24,997,000.00 -8,750.00 3133EDZX3 313312E97 3133EDXQ0 3133EDN40 3133EDXQ0 3130A5FQ7 3130A5GD5 3130A5FQ7 3130A56D6 3130A3WE0 313384F79 313384J34 313312D80 3133EDXQ0 313312ZA1 313312F70 313312ZZ6 313312XV7 313312F62 313384YJ2 313384YK9 313312SC5 313384R35 313384ZA0 313312SC5 3130A6XB8 3133836N6 3133836N6 .336 .347 .348 3133EEMS6 .329 .347 .348 .280 .175 .175 3133EEVB3 .500 .489 .490 .280 .156 .156 3133EERB8 .294 .156 .156 .350 .347 .348 3133EEPT1 .310 .131 .132 .375 .366 .367 .350 .366 .367 .250 .109 .110 3133EEMG2 .274 .090 .090 .240 .057 .058 .350 .347 .348 .220 .011 .011 .230 .060 .060 .250 .079 .079 .230 .079 .079 .370 3.757 3133EDZX3 3.778 .250 .079 .079 .363 3.758 3.778 .218 .030 .030 .370 .172 .173 .363 3.758 3.778 .622 .302 .304 .391 .573 .575 .352 .554 .556 .301 .513 .515 .462 .782 .786 .311 .570 .573 .341 .685 .688 .311 .576 .578 .331 .660 .663 .341 .699 .701 .311 .570 .573 313312E30 .442 .668 .671 .361 .701 .704 313312E30 .381 .434 .436 .442 .668 .671 313312ZV5 .412 .564 .567 .371 .431 .433313312XU9 313312XW5 .361 .436 .438 .412 .564 .567313312ZV5 .200 .060 .060 .200 .060 .060 .665 1.227 1.250 1.550 4.080 4.249 3130A6VT1 1.750 3.847 4.000 1.360 2.922 2.995 3130A6WU7 1.500 2.915 2.995 1.020 1.892 1.921 3130A6VS3 .811 .947 .956 .469 .686 .693 3130A6R74 .550 .896 .904 1.100 2.114 2.159 3130A67G6 1.310 2.836 2.907 .910 1.494 1.515 3130A64L8 .396 .573 .575 .350 .462 .463 .375 .497 .499 .400 .462 .463 .350 .462 .463 .366 .481 .482 .325 .342 .342 .350 .164 .164 .246 .150 .151 .250 .079 .079 3130A3P81 .300 .071 .071 1.250 2.423 2.471 313383CP4 .250 .079 .079 1.000 2.433 2.468 313383CP4 1.000 2.433 2.468 1.000 2.433 2.468 1.000 2.433 2.468 1.000 2.415 2.449 1.000 2.415 2.449 .750 2.367 2.395 .800 2.372 2.400 .428 .509 .512 .521 .395 .397 .491 .384 .386 .265 .055 .055 .705 .905 .912 313384YN3 .623 .754 .759 .551 .384 .386 .562 .479 .482 .542 .468 .471 .501 .469 .471 .562 .471 .474 .482 .700 .704 .561 .803 .808 .341 .510 .512313384YZ6 .341 .513 .515313384ZA0 .341 .499 .501 313384ZK8 .341 .538 .540 313384YV5 .391 .513 .515 313384C23 .291 .622 .625 313384L56 313384YJ2 3133833J8 313384XF1 313384XB0 313312ZX1 313384XB0 313384SA8 313312ZX1 313312K58 3133833M1 313383CP4 313383CP4 313383EP2 3130A3P81 3130A3W42 3130A5FW4 3130A5M30 313312ZY9 3133EEEC0 3133EDZ47 3133ECP99 3133EERB8 3133EESJ0 3133EEMS6 FHLB BONDS 3133834R9 3130A5AE9 FFCB DISC NOTES 3130A66H5 3130A6BD8 3130A6V95 3130A6W94 FFCB BONDS 3133EEMS6 3133EENK2 3133EDSR4 3133EEMS6 3133EDZX3 3133EEKU3 3133EDG63 31331KHV5 COUNTY OF RIVERISIDE TREASURER-TAX COLLECTOR 968 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss Month End Portfolio Holdings Yield To Maturity Modified Duration Years To MaturityCUSIP FFCB 1.25Yr 09/16/2016 .450 10,000,000.00 10,000,000.00 99.755000 9,975,500.00 -24,500.00 FFCB NOTES 06/24/2016 .350 25,000,000.00 24,996,250.00 99.932000 24,983,000.00 -13,250.00 FFCB 2Yr 04/21/2017 .600 10,000,000.00 10,000,000.00 99.491000 9,949,100.00 -50,900.00 FFCB 1.25Yr 06/24/2016 .350 12,000,000.00 11,996,400.00 99.932000 11,991,840.00 -4,560.00 FFCB 1.25Yr 06/24/2016 .350 25,000,000.00 24,995,500.00 99.932000 24,983,000.00 -12,500.00 FFCB 2Yr 05/08/2017 .650 15,000,000.00 14,991,000.00 99.613000 14,941,950.00 -49,050.00 FFCB 1Yr 05/26/2016 .300 15,000,000.00 15,000,000.00 99.912000 14,986,800.00 -13,200.00 FFCB 1Yr 06/20/2016 .450 7,000,000.00 7,003,780.00 99.989000 6,999,230.00 -4,550.00 FFCB 1.5Yr 01/13/2017 .500 10,000,000.00 10,000,000.00 99.918000 9,991,800.00 -8,200.00 FFCB 1Yr 08/11/2016 .400 25,000,000.00 25,000,000.00 99.841000 24,960,250.00 -39,750.00 FFCB 1Yr 08/11/2016 .400 15,000,000.00 15,000,000.00 99.841000 14,976,150.00 -23,850.00 FFCB 1Yr 08/11/2016 .400 15,000,000.00 15,000,000.00 99.841000 14,976,150.00 -23,850.00 FFCB 1Yr 08/11/2016 .400 10,000,000.00 10,000,000.00 99.841000 9,984,100.00 -15,900.00 FFCB 1.5Yr 02/06/2017 .590 10,000,000.00 10,000,000.00 99.669000 9,966,900.00 -33,100.00 FFCB 1.5Yr 02/06/2017 .590 10,000,000.00 10,000,000.00 99.669000 9,966,900.00 -33,100.00 FFCB 1.5Yr 02/06/2017 .590 15,000,000.00 14,989,950.00 99.669000 14,950,350.00 -39,600.00 FFCB 3YrNc3MoA 10/15/2018 1.110 5,000,000.00 5,000,000.00 98.777000 4,938,850.00 -61,150.00 FFCB 2Yr 09/25/2017 .900 25,250,000.00 25,371,578.75 99.769000 25,191,672.50 -179,906.25 FFCB 2Yr 05/22/2017 .625 15,650,000.00 15,669,343.40 99.489000 15,570,028.50 -99,314.90 FFCB 1.25Yr 01/13/2017 .430 24,000,000.00 23,994,480.00 99.688000 23,925,120.00 -69,360.00 FFCB 1.5 Yr 04/21/2017 .500 25,000,000.00 24,987,765.25 99.347000 24,836,750.00 -151,015.25 FFCB 1Yr 11/28/2016 .450 15,000,000.00 15,000,000.00 99.760000 14,964,000.00 -36,000.00 FFCB 1.5Yr 03/27/2017 .520 10,000,000.00 10,000,000.00 99.562000 9,956,200.00 -43,800.00 FFCB 2Yr 02/09/2018 .367 15,000,000.00 15,000,000.00 99.825000 14,973,750.00 -26,250.00 FFCB 2Yr 02/09/2018 .367 20,000,000.00 20,000,000.00 99.825000 19,965,000.00 -35,000.00 FFCB 3Yr 11/23/2018 .540 10,000,000.00 10,006,056.38 99.798000 9,979,800.00 -26,256.38 .399 821,516,000.00 821,637,837.99 99.836138 820,169,851.28 -1,467,986.71 FAMCA DISC NOTE 02/18/2016 .320 25,000,000.00 24,919,111.11 99.969000 24,992,250.00 73,138.89 FAMCA DISC NOTE 08/25/2016 .345 40,000,000.00 39,882,316.67 99.616000 39,846,400.00 -35,916.67 FAMCA DISC NOTE 10/17/2016 .720 10,000,000.00 9,937,400.00 99.502000 9,950,200.00 12,800.00 FAMCA DISC NOTE 10/03/2016 .700 15,000,000.00 14,918,625.00 99.526000 14,928,900.00 10,275.00 FAMCA DISC NOTE 10/03/2016 .700 25,000,000.00 24,864,375.00 99.526000 24,881,500.00 17,125.00 .496 115,000,000.00 114,521,827.78 99.651522 114,599,250.00 77,422.22 FAMCA 3Yr 01/28/2016 .425 5,000,000.00 5,000,000.00 100.024000 5,001,200.00 1,200.00 FAMCA 1.5Yr 01/25/2016 .365 25,000,000.00 24,998,000.00 100.019000 25,004,750.00 6,750.00 FAMCA 3Yr 09/05/2017 1.120 8,850,000.00 8,850,000.00 100.114000 8,860,089.00 10,089.00 FAMCA 1Yr 05/24/2016 .400 15,000,000.00 15,000,000.00 100.003000 15,000,450.00 450.00 FAMCA 1Yr 02/25/2016 .350 20,000,000.00 20,000,000.00 100.031000 20,006,200.00 6,200.00 FAMCA 1Yr 07/07/2016 .410 25,000,000.00 25,000,000.00 99.871000 24,967,750.00 -32,250.00 FAMCA 5YrNc3MoB 10/05/2020 1.700 10,000,000.00 10,000,000.00 100.001000 10,000,100.00 100.00 FAMCA 1Yr 02/23/2017 .500 25,000,000.00 25,000,000.00 99.850000 24,962,500.00 -37,500.00 .552 133,850,000.00 133,848,000.00 99.964915 133,803,039.00 -44,961.00 UC REGENTS 01/08/2016 .180 25,384,000.00 25,372,069.52 99.996500 25,383,111.56 11,042.04 UC REGENTS 02/04/2016 .260 25,000,000.00 24,978,514.00 99.975445 24,993,861.14 15,347.14 UC REGENTS 02/11/2016 .210 50,000,000.00 49,965,583.33 99.976083 49,988,041.67 22,458.34 UC REGENTS 02/19/2016 .260 36,000,000.00 35,969,060.00 99.964611 35,987,260.00 18,200.00 UC REGENTS 02/17/2016 .180 22,450,000.00 22,437,540.25 99.976500 22,444,724.25 7,184.00 .220 158,834,000.00 158,722,767.10 99.976704 158,796,998.62 74,231.52 LOUISIANA STATE 05/15/2016 .540 12,070,000.00 12,070,000.00 100.000000 12,070,000.00 0.00 STATE OF GEORGIA 02/01/2016 .300 30,050,000.00 30,050,000.00 100.000000 30,050,000.00 0.00 CONNECTICUT ST 08/01/2018 2.250 25,000,000.00 25,613,250.00 102.453000 25,613,250.00 0.00 CONNECTICUT ST 08/01/2016 2.000 23,000,000.00 23,304,520.00 101.324000 23,304,520.00 0.00 WASHINGTON STATE 08/01/2017 .830 12,885,000.00 12,885,000.00 100.000000 12,885,000.00 0.00 TEXAS ST 10/01/2019 1.497 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 TEXAS ST 10/01/2017 .723 7,500,000.00 7,500,000.00 100.000000 7,500,000.00 0.00 CALIFORNIA STATE 11/01/2016 .500 55,960,000.00 56,014,840.80 100.098000 56,014,840.80 0.00 .988 171,465,000.00 172,437,610.80 100.567236 172,437,610.80 0.00 CHEVRON CORP 01/29/2016 .250 50,000,000.00 49,958,333.33 99.970444 49,985,222.22 26,888.89 TOYOTA MOTOR CORP 01/29/2016 .310 50,000,000.00 49,948,333.33 99.970444 49,985,222.22 36,888.89 TOYOTA MOTOR CORP 02/04/2016 .310 30,000,000.00 29,969,000.00 99.964111 29,989,233.33 20,233.33 NESTLE 02/03/2016 .180 25,000,000.00 24,985,125.00 99.965167 24,991,291.67 6,166.67 NESTLE 02/09/2016 .240 30,000,000.00 29,975,200.00 99.958833 29,987,650.00 12,450.00 NESTLE 02/10/2016 .240 50,000,000.00 49,958,666.67 99.957778 49,978,888.89 20,222.22 NESTLE 02/10/2016 .240 40,000,000.00 39,966,933.33 99.957778 39,983,111.11 16,177.78 NESTLE 02/25/2016 .270 50,000,000.00 49,952,375.00 99.941944 49,970,972.22 18,597.22 TOYOTA MOTOR CORP 01/14/2016 .240 50,000,000.00 49,971,333.33 99.986278 49,993,138.89 21,805.56 TOYOTA MOTOR CORP 03/30/2016 .410 45,000,000.00 44,937,987.50 99.896167 44,953,275.00 15,287.50 TOYOTA MOTOR CORP 04/08/2016 .570 25,000,000.00 24,952,500.00 99.877500 24,969,375.00 16,875.00 WAL-MART 01/11/2016 .330 20,000,000.00 19,994,866.67 99.989444 19,997,888.89 3,022.22 .291 465,000,000.00 464,570,654.16 99.953821 464,785,269.44 214,615.28 .559 7,034,820,720.08 7,028,915,490.64 99.838919 7,023,488,956.44 -5,426,534.20 .559 7,034,820,720.08 7,028,915,490.64 99.838919 7,023,488,956.44 -5,426,534.20 3133EE6A3 3133EFHH3 .449 1.029 1.038 1.090 1.104 .635 1.089 1.104 .533 1.298 1.307 .650 1.714 1.737 .547 1.383 1.392 1.110 2.733 2.792 3133EE6A3 3133EE4G2 .400 .609 .614 3133EE6A3 .590 1.090 1.104 .590 3133EE4G2 .400 .609 .614 3133EE4G2 .400 .609 .614 .500 1.027 1.038 .400 .609 .614 .300 .402 .403 .396 .470 .471 .366 .481 .482 3133EEJ43 .680 1.343 1.353 .600 1.297 1.307 3133EEC40 .376 .481 .482 .450 .706 .712 .363 .481 .482 3133EFKR7 3133EFLN5 3133EEZB9 .450 .905 .912 3133EFLM7 .520 1.232 1.238 3133EFNK9 .367 2.099 2.112 3133EFNK9 .367 2.099 2.112 3133EFQJ9 .519 2.879 2.899 .393 .846 .852 31315KTF7 .321 .134 .134 FMAC DISC NOTES 31315KD49 .346 .649 .652 .725 .791 .797 .704 .753 .759 31315KJ35 .704 .753 .759 3133EEC40 3133EEZR4 3133EE3Y4 3133EE4G2 3133EEN48 3133EFJK4 3133EFEM5 3133EEC40 3133EEN89 3133EDNS7 31315KK90 31315KJ35 FARMER MAC .498 .585 .589 31315PYY9 .425 .076 .077 31315PJ75 .370 .068 .068 31315P2K4 1.120 1.652 1.682 31315PT33 .400 .396 .397 31315PT90 .350 .153 .153 3132X0AY7 .410 .515 .518 3132X0CB5 1.700 4.537 4.767 3132X0CY5 .500 1.138 1.151 .553 .840 .862 MUNI ZER0 CPNS 91411SA83 .180 .022 .022 91411SB41 .260 .096 .096 91411SBB5 .210 .115 .115 91411SBK5 .260 .137 .137 91411SBH2 .180 .131 .132 .220 .104 .105 MUNI BONDS 546415L73 .540 .371 .373 3733842H8 .300 .087 .088 20772JL34 1.398 2.488 2.586 20772JK92 .600 .577 .586 93974DSZ2 .830 1.655 1.586 882723A33 1.497 3.624 3.753 882723ZZ5 .723 1.734 1.753 13063CXT2 .401 .830 .838 .646 1.062 1.081 COMM PAPER 16677JAV8 .250 .079 .079 89233GAV8 .310 .079 .079 89233GB47 .310 .096 .096 64105GB37 .180 .093 .093 64105GB94 .240 .109 .110 64105GBA1 .240 .112 .112 64105GBA1 .240 .112 .112 64105GBR4 .270 .153 .153 89233GAE6 .240 .038 .038 89233GCW4 .411 .245 .247 89233GD86 .571 .270 .271 93114EAB3 .330 .030 .030 .291 .117 .117 Grand Total .551 1.001 1.025 Total Fund .551 1.001 1.025 COUNTY OF RIVERISIDE TREASURER-TAX COLLECTOR 1069 1 Mutual Funds maturity may be interpreted as weighted average maturity not exceeding 60 days. 2 Or must have an investment advisor with not less than 5 years experience and with assets under management of $500,000,000. THIS COMPLETES THE REPORT REQUIREMENTS OF CALIFORNIA GOVERNMENT C0DE 53646 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 3 YEARS 15% AA-/Aa3/AA-4.71% U.S. TREASURIES 5 YEARS NO LIMIT NA 5 YEARS 100%NA 12.66% LOCAL AGENCY OBLIGATIONS (LAO) 5 YEARS NO LIMIT NA 3 YEARS 2.5% INVESTMENT GRADE 0.00% FEDERAL AGENCIES 5 YEARS NO LIMIT AAA 5 YEARS 100%NA 62.87% COMMERCIAL PAPER (CP)270 DAYS 40% A1/P1 270 DAYS 40%A1/P1/F1 6.61% CERTIFICATE & TIME DEPOSITS (NCD & TCD) 5 YEARS 30% NA 1 YEAR 25% Combined A1/P1/F1 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 0.00% CALTRUST SHORT TERM FUND NA NA NA DAILY LIQUIDITY 1.0% NA 0.77% MONEY MARKET MUTUAL FUNDS (MMF) 60 DAYS (1)20% AAA/Aaa (2) DAILY LIQUIDITY 20% AAA by 2 Of 3 RATINGS AGC. 8.82% 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 3.56% GOVERNMENT CODE COUNTY INVESTMENT POLICY The Treasurer’s Pooled Investment Fund was in FULL COMPLIANCE with the Treasurer’s Statement of Investment Policy. The County’s Investment Policy is more restrictive than the Califor- nia Government Code. This policy is reviewed annually by the County’s Investment Oversight Committee and approved by the County Board of Supervisors. Full Compliance COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 13 70 Logan Circle Partners, L.P.  25 Deforest Avenue Summit, NJ 07901  908-376-0550 SHORT DURATION FIXED INCOME Fourth Quarter 2015 Client Review Riverside County Transportation Commission ATTACHMENT 14 71 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. MARKET REVIEW Outlook and Current Themes 1 GDP – Weaker fourth quarter GDP expected as drag from net exports and inventory drawdown over the quarter assures another year of tepid growth. Expect 2016 to follow recent 2-2.5% range. Personal consumption expenditures to key growth; healthcare spending continues to be a significant contributor. State and local government expenditures and investment continue to be positive factors while declining levels of confidence and capacity utilization hamper business fixed investment. Consumer – Real median household income growth has remained little changed over the last five years. Lower gas prices supporting consumer spending, helping to offset higher healthcare costs. Increase in the personal savings rate reflects growing consumer uncertainty, as demonstrated by consumer confidence measures having fallen below recent highs. Continued student and auto loan debt growth bodes ill for future discretionary spending. Business – Persistent sluggish global growth and weaker energy and commodity prices increasingly pressure revenues and earnings across many industrial sub-sectors. Further pressure on credit metrics may stem from rising wages compressing operating margins and continued share buybacks weakening balance sheets for affected issuers. While Financials continue to build capital and improve balance sheets, the narrowing focus of business models reduces stability of earnings profile going forward. Employment – Recent pace of monthly job gains expected to moderate. Decline in headline unemployment rate overstates health of the labor market due to the historically low participation rate. Difference between U6 (highlighting the underemployed) and the headline unemployment rate indicates a labor market that has not yet returned to full health. Average hourly earnings growth in certain service sectors outpaces that in most goods producing and government sectors. Housing – Annual home price appreciation will remain in the low single digit range as declining affordability, especially for first time home buyers, and moderate income growth limits price increases. Demographics– driven propensity to rent still in place while higher rents impact discretionary spending. Mortgage credit availability increasing as bank and non-bank lenders continue to relax underwriting standards and offer more non-conforming financing options. Inflation – Core PCE continues to run below the Federal Reserve’s long-term 2% target. As the influence of lower energy prices ebbs, the recent pickup in wages could lead to a temporary inflationary uptick. Elevated U.S. dollar and China’s ongoing devaluation of the yuan should help mitigate the effects of an improved U.S. labor market. International – China’s slowing economic growth and currency devaluations continue to impact world markets. Emerging and commodity-based economies expected to remain under pressure. Interest rates in many developed countries will remain low given ongoing central bank stimulus. Destabilization in the Middle East, political tensions in Europe and major shifts in global capital flows heighten risks to financial markets. Monetary and Fiscal Policy – Federal Reserve’s efforts to normalize policy continue but moderate pace of growth, strength of the dollar, and lack of significant inflationary pressures prevent Fed from realizing “dot plot” targets. Market expectations of a less aggressive tightening pace may be called into question in the first quarter should financial market stability provide sufficient cover for the Fed to deemphasize the importance of its dependence on economic data. 72 PORTFOLIO REVIEW – Construction Funds Corporate 10% Municipal 13% Agency 1% RMBS 2% CMBS 2% ABS 4% Treasury 7% CP 61% As of September 30, 2015 Actual Portfolio Yield to Maturity 0.57% Duration 0.49 Years Average Quality (Moody’s) Aa2 Portfolio Performance1 4Q 2015 YTD Since Inception (Annualized) Total Construction Fund (Gross of Fees) 0.12% 0.46% 0.44% Total Construction Fund (Net of Fees) 0.10% 0.37% 0.36% Citigroup 3-Month Treasury Bill 0.01% 0.03% 0.03% Past 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 Construction Fund is the Citigroup 3–Month Treasury Bill, which tracks the return of one three-month Treasury bill until maturity. 2 As of December 31, 2015 Actual Portfolio Yield to Maturity 0.79% Duration 0.63 Years Average Quality (Moody’s) Aa1 Corporate 10% Municipal 8% Agency 1% RMBS 2% CMBS 2% ABS 5% Treasury 13% CP 59% Asset Allocation Portfolio Characteristics 73 PORTFOLIO REVIEW – Equity Contribution Past 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 Construction Fund is the Bank of America Merrill Lynch 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 $250 million and a maturity range from one to three years, reflecting total return. Corporate 32% Municipal 4% Agency 2% RMBS 6% CMBS 7% ABS 8% Treasury 42% CP 1% As of September 30, 2015 Actual Portfolio Yield to Maturity 1.04% Duration 1.67 Years Average Quality (Moody’s) Aa2 Portfolio Performance1 4Q 2015 Since Inception (7/1/2015) Equity Contribution Fund (Gross of Fees) -0.19% 0.20% Equity Contribution Fund (Net of Fees) -0.21% 0.15% BofA ML U.S. Treasury Index 1-3 Year -0.44% -0.13% Asset Allocation Portfolio Characteristics 3 As of December 31, 2015 Actual Portfolio Yield to Maturity 1.44% Duration 1.95 Years Average Quality (Moody’s) Aa1 Corporate 36% Municipal 5% Agency 4% RMBS 8% CMBS 7% ABS 15% Treasury 25% 74 As of September 30, 2015 Actual Portfolio Yield to Maturity 0.94% Duration 1.74 Years Average Quality (Moody’s) Aa1 PORTFOLIO REVIEW – Capitalized Interest Funds Portfolio Performance1 4Q 2015 YTD Since Inception (Annualized) Total Capitalized Interest Fund (Gross of Fees) -0.22% 0.82% 1.09% Total Capitalized Interest Fund (Net of Fees) -0.25% 0.72% 0.99% BofA ML U.S. Treasury Index 1-3 Year -0.44% 0.54% 0.61% Corporate 38% Municipal 10% Agency 2% RMBS 6% CMBS 12% ABS 0% Treasury 30% CP 3% Past 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 Capitalized Interest Fund is the Bank of America Merrill Lynch 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 $250 million and a maturity range from one to three years, reflecting total return. Asset Allocation Portfolio Characteristics 4 As of December 31, 2015 Actual Portfolio Yield to Maturity 1.23% Duration 1.70 Years Average Quality (Moody’s) Aa1 Corporate 42% Municipal 8% RMBS 6% CMBS 5% Treasury 38% CP 1% 75 PORTFOLIO REVIEW – Debt Reserve Fund As of September 30, 2015 Actual Portfolio Yield to Maturity 1.64% Duration 4.25 Years Average Quality (Moody’s) Aaa Portfolio Performance1 4Q 2015 YTD Since Inception (Annualized) Total Debt Service Fund (Gross of Fees) -0.85% 1.73% 2.47% Total Debt Service Fund (Net of Fees) -0.87% 1.63% 2.37% BofA ML U.S. Treasury Index 3-7 Year -1.08% 1.73% 1.91% Past 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 Capitalized Interest Fund is the Bank of America Merrill Lynch 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 $25 million and a maturity range from three to seven years, inclusive, reflecting total return. Agency 14% RMBS 14% CMBS 32% Treasury 40% CP 1% Asset Allocation Portfolio Characteristics 5 As of December 31, 2015 Actual Portfolio Yield to Maturity 2.03% Duration 4.24 Years Average Quality (Moody’s) Aaa Agency 13% RMBS 13% CMBS 32% Treasury 41% CP 1% 76 PORTFOLIO REVIEW Portfolio Market Value Portfolio Market Value (7/3/2013) Net Outflows Market Value (12/31/2015) Change in Market Value Construction (Sales Tax) $332,687,595 $301,793,465 $33,049,710 +$2,155,580 Construction (Toll Revenue) $122,120,571 $82,245,507 $40,350,715 +$475,651 Total Construction Funds $454,808,167 $384,038,972 $73,400,425 +$2,631,231 Portfolio Market Value (7/3/2013) Net Outflows Market Value (9/30/2015) Change in Market Value Capitalized Interest (Sales Tax) $103,683,353 $57,965,793 $48,140,584 +$2,423,024 Capitalized Interest (Toll Revenue) $31,416,498 $17,166,960 $15,044,899 +$795,361 Total Capitalized Interest Funds $135,099,851 $75,132,753 $63,185,483 +$3,218,385 Portfolio Market Value (7/3/2013) Net Outflows Market Value (9/30/2015) Change in Market Value Debt Service Reserve Fund $17,667,869 $0 $18,775,770 +$1,107,901 Portfolio Market Value (6/10/2015) Net Outflows Market Value (12/31/2015) Change in Market Value Equity Contribution $32,793,399 $0 $32,893,884 +$100,485 6 77 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 Fortress Investment Group LLC company, is referred to herein as “Logan Circle”. 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 and is presented for use only as a one-on-one presentation. No reliance, no update and use of information. You may not rely on this Presentation as the basis upon which to make an investment decision. To the extent that you rely on this Presentation in connection with any investment decision, you do so at your own risk. This Presentation is being provided in summary fashion and does not purport to be complete. The information in the Presentation is provided to you as of the dates indicated and Logan Circle does not intend to update the information after its distribution, even in the event that the information becomes materially inaccurate. Certain information contained in this Presentation, includes performance and characteristics of Logan Circle’s strategies and any represented benchmarks, which may derive from calculations or figures that have been provided by independent third parties, or have been prepared internally and have not been audited or verified. Use of different methods for preparing, calculating or presenting information may lead to different results for the information presented, compared to publicly quoted information, and such differences may be material. Knowledge and experience. You acknowledge that you are knowledgeable and experienced with respect to the financial, tax and business aspects of this Presentation and that you will conduct your own independent financial, business, regulatory, accounting, legal and tax investigations with respect to the accuracy, completeness and suitability of this Presentation should you choose to use or rely on this Presentation, at your own risk, for any purpose. Risk of loss. An investment in the strategy will be highly speculative and there can be no assurance that the strategy’s investment objectives will be achieved. Investors must be prepared to bear the risk of a total loss of their investment. Distribution of this Presentation. Logan Circle expressly prohibits any reproduction, in hard-copy, electronic or any other form, or any redistribution to any third party of this Presentation without the prior written consent of Logan Circle. This Presentation is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use is contrary to local law or regulation. No tax, legal or accounting advice. This Presentation is not intended to provide, and should not be relied upon for (and you shall not construe it as) accounting, legal, regulatory, financial or tax advice or investment recommendations. Any statements of U.S. federal tax consequences contained in this Presentation were not intended to be used and cannot be used to avoid penalties under the U.S. Internal Revenue Code or to promote, market or recommend to another party any tax-related matters addressed herein. 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. 7 78 AGENDA ITEM 7D RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 TO: Budget and Implementation Committee FROM: 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, 2015; 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 September 2015. 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 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, 2015, under the single signature authority granted to the Executive Director. The unused capacity of single signature authority for services at December 31, 2015 is $638,910. Attachment: Single Signature Authority Report as of December 31, 2015 Agenda item 7D 79 CONSULTANT DESCRIPTION OF SERVICES ORIGINAL CONTRACT AMOUNT PAID AMOUNT REMAINING CONTRACT AMOUNT AMOUNT AVAILABLE July 1, 2015 $1,000,000.00 The Alberts Firm Client Trust Settlement Agreement 35,000.00 0.00 35,000.00 TSC2 Group Integrated Communications Strategies 150,000.00 31,000.00 119,000.00 Connected Consulting Enhanced Public Communications Support to 91 Project Team 150,000.00 9,778.00 140,222.00 Lamar Billboard Advertisement - Operation Lifesaver 19,340.00 0.00 19,340.00 Screenvision Direct Movie Theater Advertisement for Rail Safety 6,750.00 2,250.00 6,750.00 AMOUNT USED 361,090.00 361,090.00 $638,910.00 None N/A -$ -$ -$ Matt Wallace Theresia Trevino Prepared by Reviewed by AMOUNT USED SINGLE SIGNATURE AUTHORITY AS OF DECEMBER 31, 2015 Note: Shaded area represents new contracts listed in the second quarter. AMOUNT REMAINING through December 31, 2015 Agreements that fall under Public Utilities Code 130323 (C) 80 AGENDA ITEM 8 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 TO: Budget and Implementation Committee FROM: Michele Cisneros, Deputy Director of Finance THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Fiscal Year 2015/16 Mid-Year Budget Adjustment STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve an increase of $406,000 in Fiscal Year 2015/16 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, 2015, and an estimate of expenditures for the remaining six months of the fiscal year ending June 30, 2016. As a result of the review, the following mid-year budget adjustments are proposed: Expenditure Adjustment 1 – $195,000 The original FY 2015/16 budget did not include sufficient budget authority for SunLine Transit Agency operating needs as the FY 2015/16 Short Range Transit Plan was finalized after the adoption of the FY 2015/16 budget. Adequate 2009 Measure A Coachella Valley specialized transit fund balance is available to accommodate this budget adjustment to increase operating expenditures by $195,000. Expenditure Adjustment 2 – $180,000 The original FY 2015/16 budget did not include consideration for additional Measure A funding needed for non-profit specialized transportation agencies given that specialized transit operator agreements were finalized after the adoption of the FY 2015/16 budget. Adequate 2009 Measure A Western Riverside County specialized transit fund balance is available to accommodate this budget adjustment to increase operating expenditures by $180,000. Agenda Item 8 81 Expenditure Adjustment 3 – $31,000 The original FY 2015/16 budget did not anticipate work being performed for the triennial performance audit to be ahead of the proposed schedule. The estimated value of the work performed ahead of schedule has been determined at $31,000 and adequate Local Transportation Fund fund balance is available to accommodate this expenditure budget adjustment. Financial Information In Fiscal Year Budget: No Year: FY 2015/16 Amount: $406,000 Source of Funds: 2009 Measure A Coachella Valley Specialized Transportation Funds, 2009 Measure A Western County Specialized Transportation Funds, Local Transportation Funds Budget Adjustment: Yes GL/Project Accounting No.: 258 26 86101 $195,000 260 26 86101 $180,000 106 62 65401 $ 31,000 Fiscal Procedures Approved: Date: 02/10/2016 Agenda Item 8 82 AGENDA ITEM 9 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 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 2016/17 Budget STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve the proposed Commission Policy Goals and Objectives for the Fiscal Year 2016/17; and 2) 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 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 both Measure A Expenditure Plans and fulfills other Commission responsibilities. The Commission’s seven long- term policy goals are: • Promote mobility; • Mitigate and address the impact of goods movement; • Encourage economic development; • Ensure improved system efficiencies; • Foster environmental stewardship; • Support transportation choices through intermodalism and accessibility; and • Prioritize public and agency communications. The Commission’s Financial and Administrative Policies are also included in the Commission Policy Goals and Objectives for the FY 2016/17 Budget. Attachment: Proposed Commission Policy Goals and Objectives for FY 2016/17 Budget Agenda Item 9 83 Commission Policy Goals and Objectives The Commission’s vision related to the future of the County’s transportation system is stated in five guiding principles: • Together, we are implementing an efficient transportation system for the good of all in the County. • We are the people we serve. Economic prosperity and quality of life is enhanced with proper transportation. The public trust is vital to our mission. • We operate in a dynamic environment. We will remain flexible in order to respond to change and opportunity. We will focus on projects and allocate funds that support the quality of life in the County. We collaborate in partnerships to maximize our ability to get people where they want to go and when they want to get there. • Our priority is to serve the public need. We will invest in a transportation system that moves community members, visitors, and goods. This system will support our economy and our future prosperity and is vital to attract and retain quality jobs to our region. • We are dedicated to environmental stewardship. We will use existing regional and countywide plans, such as the Riverside County Integrated Plan, as a framework for our decisions. We know that goods moving to, within, and through the County are vital to our economy; however we desire and will work toward a future where there is a balance between goods movement and our quality of life. In addition to financial and administration policies, the Commission has seven long-term policy goals that support the Commission’s vision for transportation in the County: promote mobility, mitigate and address the impact of goods movement, encourage economic development, ensure improved system efficiencies, foster environmental stewardship, support transportation choices through intermodalism and accessibility, and prioritize public and agency communications. For each of these policy goals, the objectives and initiatives that were considered in the framework of the work plan for the FY 2016/17 budget are identified below. While the County’s economic outlook is positive, the Commission remains cautious about revenue availability to support the funding and development of critical transportation projects and programs. The need for better transportation remains a top public priority as demonstrated in the Commission’s vision statements, and the Commission is poised to address this challenge via the seven policy goals. In moving forward with an aggressive program of projects and services, the Commission may face fluctuating Measure A, TUMF, and TDA revenues and uncertainty regarding the availability of federal and state transportation revenues. Due to the long-term nature of many of the Commission’s programs, many of the policy goals’ objectives and initiatives are ongoing from year to year. Promote Mobility The Commission, in cooperation with local, state, and federal agencies, will strive to create a transportation system that promotes efficient mobility both within the County and region and accommodates and supports multiple travel choices. • Continue to aggressively pursue completion of the environmental, design, and construction processes on key components of the Western Riverside County Delivery Plan. • Commence the first ten-year update of the 2009 Measure A Expenditure Plan, as required by the ordinance, and initiate the development of a county-wide transportation plan. • Enhance corridor mobility and traveler choice with the continued development of tolled express lanes on SR-91 and I-15. • Continue to provide leadership in the planning and development of the Coachella Valley/San Gorgonio Pass corridor rail service through the Alternatives Analysis Report and continue to seek out grant opportunities with federal and state agencies for project funding. Work closely with partners in the Coachella Valley, including CVAG and SunLine Transit Agency (SunLine) to ensure the implementation of Measure A funding priorities. • Complete projects and programs included in the 1989 Measure A ordinance and determine use(s) for any unexpended revenues. 84 • Complete environmental permitting and develop an implementation plan for the Mid County Parkway project, including commencement of the design phase of the first project segment. • Complete the preliminary engineering and environmental clearance for the SR-79 realignment project. • Continue to collaborate with state and federal agencies and local partners to develop and fund projects programmed in the STIP, Federal Transportation Improvement Program (FTIP), Proposition 1B bond programs, ATP, Cap and Trade Programs, and Measure A program as well as other high priority regional projects. • Maximize obtaining all available transportation funds and strategically program funds to meet funding and allocation deadlines and to prevent the lapse and loss of funds. • Leverage the effective application and use of Measure A Western County regional arterial funds with local, state and federal funds to deliver eligible regional arterial projects. • Work closely with local jurisdictions to implement TUMF Regional Arterial Program projects and facilitate the delivery of eligible arterial improvements in Western County. • Actively participate in the SR-91 Advisory Committee to facilitate near and long-term improvements to SR-91, enhance intercounty public transit options, and foster mobility improvements between the two counties. • Advocate streamlining efforts at the state and federal levels that will reduce costs, time, and delays currently associated with project delivery including, but not limited to, timely project reviews and approvals. • Continue active engagement in state and federal efforts to streamline and reform CEQA and NEPA to improve the ability to deliver critical projects that enhance mobility within the County and the region. • Continue to coordinate and provide public access to commuter information via the 511 system and focus commuter assistance and 511 outreach efforts under the IE Commuter brand. • Continue cooperation with the FTA regarding the Small Starts process to support the new Perris Valley Line commuter rail service. • Continue to work with the public transit operators to control costs and increase system efficiencies in order to accommodate and adjust to fluctuating revenues from local, state and federal sources. • Continue to develop transit service to further promote seamless intracity, intercity and regional transit connectivity for County residents. • Consider future rail expansion opportunities including the potential for extension of the Perris Valley Line to the Hemet/San Jacinto and Temecula areas. • Consider future opportunities to implement tolling. • Work with transit operators, cities, and the County to review funding opportunities for Cap and Trade funding. Mitigate and Address the Impact of Goods Movement The Commission will work with federal, state, and local governments to facilitate the movement of goods and services to, within, and through the County, recognizing the vital role goods movement mobility plays in the economic health of the County, the State, and the nation. • Seek funding and local agency concurrence to implement the Commission’s approved, high-priority railroad grade separation list to mitigate the impact of increased goods movement demands on the transportation system. Work with federal and state agencies regarding the nomination and implementation of projects for FAST Act funding. • Encourage Congress to aggressively fund projects to develop the nation’s multimodal national goods movement network. • Remain committed to a regional approach regarding goods movement issues in order to maximize funding from state and federal sources to goods movement needs in southern California. • Continue working with the Ports and regional transportation commissions to develop a funding mechanism for needed projects and mitigation on a regional basis. • Continue to provide input to the National Freight Advisory Committee regarding the establishment of a national freight network and California State Freight Advisory Committee regarding regional freight priorities. 85 Encourage Economic Development Transportation decisions will consider the economic benefits derived from any improvement, and, where feasible and practical, will pursue transportation alternatives that enhance or complement economic development. • Commit to seek opportunities related to transportation projects that will create jobs and improve the economic base in the County. • Support local agencies in the design and construction of interchanges that are in proximity to operating and planned regional economic centers and developments. • Support local projects, consistent with countywide transportation goals and Commission commitments, which enhance business development, local employment, educational institutions, and area tourism. Ensure Improved System Efficiencies The Commission will select projects and allocate funds in a manner that will improve safety, reduce congested traffic corridors, and provide travel choices. • Advocate the development and use of advanced technologies for transportation applications that are affordable and practical. • In partnership with SANBAG, continue to explore alternatives to IE511 for improved deployment of real- time traffic information, real-time bus and rail transit trip planning information, and rideshare information available to commuters for the purpose of trip planning and reducing congestion on a regional scale. • Assure the effectiveness of transit planning through coordination with the County’s eight transit operators, Citizens’ Advisory Committee, and annual SRTP process with a goal toward promoting program productivity, efficiency, and effectiveness. • Provide innovative commuter rideshare programs to reduce single occupant vehicle trips. • Collaborate with local jurisdictions, Caltrans, and the CHP to continue efficient delivery of a comprehensive motorist aid system which includes a 511 traveler information service, a call box program, and a FSP program, including temporary services in freeway construction zones. • Leverage resources to incorporate park and ride facilities and additional connecting bus service at Metrolink stations that may have available capacity. • Continue working with Caltrans to monitor traffic conditions for the purpose of focusing transportation funds on congested corridors and system deficiencies. • Collaborate with Caltrans and regional agencies in developing resources for preservation and maintenance of the highways and regional arterials. • Support the implementation of active transportation facilities that support transportation alternatives and enhance the transportation system. • Continue to deliver the “Annual State of Public Transit Report” to the Commission in order to assess accomplishments and potential improvements. Foster Environmental Stewardship The Commission will achieve its mobility goals while promoting environmental stewardship and protecting the area’s natural resources and quality of life. • Continue working with the Western Riverside County Regional Conservation Authority (RCA), Caltrans, and state/federal resource agencies to implement the MSHCP. • Collaborate with the Southern California Association of Governments (SCAG), South Coast Air Quality Management District (SCAQMD), sub-regional agencies, and local jurisdictions to implement the current RTP and sustainable communities’ strategy that meets regional air quality goals, conformity guidelines, and SB375 California’s Sustainable Communities and Climate Protection Act (SB375) green house gas (GHG) reduction targets for the SCAG region. 86 • Support a variety of outreach channels and educational programs that promote the benefits of ridesharing, public and specialized transit, rail, and availability of commuter resources for the purposes of reducing vehicle trips, vehicle miles traveled, and emissions. • Facilitate private/public use of clean fuels technology. • Continue to develop sustainable and green commuter rail stations and provide upgrades and rehabilitation projects to reduce the environmental impact of the existing stations. Support Transportation Choices through Intermodalism and Accessibility County residents will be served, where economically feasible, through the development of transportation alternatives and travel options that consider the needs of a wide range of citizens. • Work with transit providers and local social service agencies to provide specialized transit service to meet a broad spectrum of socio-economic transit needs of seniors, veterans, persons with disabilities, and low income residents. • Leverage commuter and motorist assistance outreach channels in order to increase the awareness and use of alternative commuting modes. • Implement the Commission’s commuter rail SRTPs and SCRRA’s plan for Metrolink commuter rail services. • Implement an update to and continue to pursue the goals and objectives as outlined in the Coordinated Public Transit-Human Services Transportation Plan (Coordinated Plan) for the County related to a unified, comprehensive but flexible strategy for transportation service delivery to address transportation gaps between current services and needs of elderly individuals, persons with disabilities, and individuals of limited income. • Enhance security, surveillance, and emergency response capabilities of County transit facilities and roadway infrastructure through proactive planning, interagency coordination, and investment. • Collaborate with public transit operators to ensure connecting bus service to new Perris Valley Line stations. Prioritize Public and Agency Communications The Commission will provide timely, informative, and accurate reporting to encourage informed public and agency participation in the Commission’s decision-making processes. • Promote a close working relationship with news and civic entities to increase interest and understanding of transportation and related issues. • Enhance the provision of public information through various forms of communication (e.g., website, social media, annual report, monthly newsletter, television, Speakers Bureau, print media, radio, etc.). • Maintain an ongoing effort of informing the County’s Congressional and State Legislative delegations regarding transportation issues. • Develop an effective long-range legislative strategy regarding state and federal funding and policy. • Protect and enhance flexibility in the Commission’s use of state and federal transportation revenue in addressing regional priorities and needs. • Explore local options for sustainable funding in addressing long-term transportation and quality-of-life needs for the County. • Seek legislative flexibility for innovation in financing, construction, and maintenance of regional transportation projects. • Pursue policy objectives contained in the Commission’s comprehensive adopted legislative platforms. • Maintain ongoing efforts to educate commuters, businesses, and the public regarding the Commission’s toll planning efforts and specific project development efforts underway. • Keep the public informed about construction-related impacts from projects. • Develop and execute a long-term communications and customer engagement strategy for the purposes of public education and customer service. • Develop and implement express lane marketing and promotion campaigns for the Commission’s toll 87 facilities to increase customer accounts and lane usage. Financial and Administration Policies Financial Planning Policies • Administrative costs, including salaries and benefits, shall be funded by allocations from Measure A, LTF, FSP, SAFE, and TUMF funds. • The Commission shall budget no more than one percent (1%) of Measure A sales tax revenues for administrative salaries and benefits. • Administrative program delivery costs will be budgeted at whatever is reasonable and necessary, but not to exceed four percent (4%) of Measure A sales tax revenues (inclusive of the one-percent salary limitation). The Commission shall budget 100 percent of the annual required contribution related to the postretirement health care benefits. • The Commission shall utilize unexpended 1989 Measure A funds only for projects and programs included in the 1989 Measure A. Sales tax revenues from the 2009 Measure A shall be expended only for projects and programs included in the 2009 Measure A. • Amounts will be budgeted by fiscal year for multi-year projects, based on best available estimates, with the understanding that, to the extent actuals vary from those estimates and the project is ongoing, adjustments will be made on a continual basis. • The fiscal capital budget should be consistent with the strategic plan and deviations appropriately noted, explained, and justified. • A balanced budget shall be adopted annually with operating and capital expenditures and other financing uses equal to or less than identified revenues and other financing sources as well as available fund balances. Revenue Policies • Sales tax revenue projections will be revised semi-annually to ensure use of current and relevant data. Staff may adjust annual amounts during the budget preparation process to reflect the most current economic trends. • A strategic application of local funding sources will be used to maximize federal and state funding of projects. • Fiduciary responsibility regarding Western County TUMF revenues shall be exercised, and revenues will be allocated pursuant to Commission direction and the approved 2009 Measure A. • Adopted toll revenue policies will establish congestion pricing in order to maximize throughput on toll facilities. Such pricing will be adjusted periodically by pre-defined formulas. • Revenues generated from the operation of toll facilities will be available for expenses 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 from which the revenue was generated. • Proceeds from the disposition, in accordance with federal, state and local regulations, of excess properties owned by the Commission will be returned to the programs which provided the funding sources for the property acquisition. Debt Management Policies 88 • The Debt Management Policy, as revised on April 10, 2013, and the Interest Rate Swap Policy, as adopted July 12, 2006, shall be updated as necessary for matters related to sales tax revenue and toll-supported indebtedness. • Outstanding sales tax revenue bonds shall not exceed $975 million, in accordance with Measure K approved by a majority of the voters in November 2010. • Toll revenue supported debt may be issued for specific highway projects and may comprise toll revenue bonds and federal loans. • The Commission will maintain 2.0x debt ratio coverage on all senior sales tax revenue debt and 1.3x debt ratio coverage on all toll revenue debt. • Debt issuance will be for major capital projects including engineering, right of way, and construction. Operating requirements, if any, must be paid from current ongoing revenues and may not be financed except for initial toll operations. • Costs of issuance, including the standard underwriter’s discount, will not exceed two percent (2%). • The Commission may enter into interest rate swaps to better manage assets and liabilities and take advantage of market conditions to lower overall costs and reduce interest rate risk. • While it is the intent of the Commission to establish a cash debt reserve for long term bond issuance, as necessary, surety bonds can be obtained when beneficial to the Commission. • All sales tax revenue debt must mature prior to the termination of 2009 Measure A on June 30, 2039. • All toll revenue supported debt must mature prior to the expiration of toll facility agreements. Expenditure/Expense Accountability Policies • Established priorities for planning and programming of capital projects will be reviewed annually with the Commission. • Actual expenditures/expenses will be compared to the budget on at least a quarterly basis, and significant deviations will be appropriately noted, explained, and justified. • Operations and maintenance agreements for toll operations will be implemented, and related costs will be compared to toll financing assumptions. Reserve Policies • The Commission will maintain program reserves in accordance with Measure A and TDA policies and guidelines. • The Commission will establish and maintain a transit operator’s reserve of ten percent (10%) for the Coachella Valley and Palo Verde Valley. Additionally, a ten percent (10%) reserve will be established and maintained for each of the Western County transit operators (public bus and commuter rail). • The Commission will establish and maintain reserves for toll operations, capital improvements, and debt service in accordance with toll supported debt agreements. Cash Management and Investment Policies • Where possible, the Commission will encourage receipt of funds by wire transfer to its accounts. • Balances in the bank operating account will be maintained at the amount necessary to meet monthly expenditures. • Construction and operating funds will be invested per the Commission’s established Investment Policy, as revised on September 10, 2014, emphasizing in order of priority: 1) safety, 2) liquidity, and 3) yield. • Cash disbursements to local jurisdictions and vendors/consultants will be completed in an expeditious and timely manner. 89 Procurement Policies • The Commission will conduct enhanced outreach to businesses and contractors located in the County regarding opportunities to provide the Commission with competitive and qualified goods and/or services. • The Commission will continuously evaluate its procurement program and policies to ensure competitive, transparent, objective, and fair selection processes. • The Commission will continue to expand and improve vendor access to contracting opportunities. Auditing, Accounting, and Financial Reporting Policies • The Commission will maintain its ERP system in order to integrate project and toll operations accounting needs and improve accounting efficiency. • The Commission will issue a Comprehensive Annual Financial Report (CAFR); separate financial reports for the LTF, STA, Proposition 1B Rehabilitation and Security Project Accounts, and toll operations; and State Controller’s Transportation Planning Agency Financial Transactions Report as well as Government Compensation in California Report. • An audit is to be conducted annually on the Commission’s accounting books and records. As long as the Commission has outstanding bonds and federal loans, an independent accounting firm must conduct the audit. • The Commission is responsible for ensuring that audits of Measure A and TDA funding recipients are completed and reviewed for compliance and other matters in a timely manner. Human Resources Management Policies • While accommodating the assumption of toll operation responsibilities, Commission staffing levels will be consistent with the intent of its enabling legislation, which envisioned a small, but effective staff. • Contract staff and consultants will be used to augment staff efforts as much as necessary to support programs or workloads, which do not appear to be of a permanent nature. Information Technology Management Policy • Significant effort will be made to maintain efficient and cost-effective technology infrastructure by continuously upgrading network equipment and software to ensure quality performance, productivity, and connectivity among staff, other agencies, toll operator, and the public. Network security will continue to be a top priority to maintain the integrity of the Commission’s network and information. 90 Linking Commission Policy Goals and Departmental Goals and Objectives The following matrix (Table 19) illustrates the linkage of the Commission’s overall policy goals described in this section to the individual departmental goals and objectives included in Section 6. Table 19 – Relationship Between Commission and Departmental Goals Department Mobility Goods Movement System Efficiencies Environmental Stewardship Economic Development Intermodalism & Accessibility Communications Financial & Administration Management Services Executive Management X X X X X X X X Administration X X Legislative Affairs & Communications X X X X X Finance X Regional Programs Planning and Programming X X X X X X X X Rail Maintenance and Operations X X X X X Public and Specialized Transit X X X X X Commuter Assistance X X X X X X Motorist Assistance X X X X X X Capital Project Development & Delivery X X X X X X X X 91 Budget Policy Goals and Objectives Fiscal Year 2016/17 Budget Development Commission Policy Goals •Workshop •Guiding policies •Goals and Objectives Department Goals and Objectives •Specific to department or program •Correlate to guiding policies Budget Development and Adoption •Public hearings open in May •Adopt budget by June 15th Commission Policy Goals and Objectives Goals and ObjectivesMobility Goods Movement Economic Development System Efficiencies Environmental Stewardship Intermodalism and Accessibility Communications Major Changes Promote Mobility •Update 10-year 2009 Measure A Expenditure Plan •Initiate development of county-wide transportation plan •Develop plan for commencement of design phase of Mid County Parkway •Consider future opportunities to implement tolling •Seek opportunities for Cap and Trade funding Communications •Develop communications and customer engagement strategy for public education and customer service •Develop and implement toll express lane marketing and promotion campaigns Revenue Policies •Toll revenues generated from operations will be available for: •debt issued for construction and repair of toll facility; •debt service; •maintenance, repair, rehabilitation, and operations of toll facilities; and •projects within corridor Next Steps Final Budget May 23 –B&I continues public hearing and reviews proposed budget June 8 –Commission closes public hearing and adopts budget Draft Proposed Budget April 25 –B&I reviews Executive Summary May 11 –Commission opens public hearing and reviews Executive Summary Development of Budget Departmental budgets, including linkage to Commission policy goals Compilation and review of budgets AGENDA ITEM 10 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 TO: Budget and Implementation Committee FROM: Shirley Medina, Planning and Programming Director THROUGH: John Standiford, Deputy Executive Director SUBJECT: State Transportation Improvement Program Revision STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve reducing the Interstate 15/French Valley Parkway interchange project State Transportation Improvement Program (STIP) program funds from $47.6 million to $15,346,000 in accordance with the California Transportation Commission’s (CTC) revised 2016 STIP Fund Estimate; 2) Transfer $2,920,000 of STIP funding from the I-15/Railroad Canyon Road and Franklin Street interchange project to the I-15/French Valley Parkway interchange project or State Route 60 truck climbing/descending lane project, as determined by staff, in the event CTC does not allow new project programming; 3) Authorize the Executive Director to modify the STIP revision submittal based on the ongoing nature of the CTC working with each county transportation commission to reduce STIP programming by the required amount of approximately $754 million statewide and the Commission’s objective to minimize reduction in STIP programming; and 4) Forward to the Commission for final action. BACKGROUND INFORMATION: At its September and October 2015 meetings, the Commission approved submitting the 2016 STIP for Riverside County to the CTC. Due to decreased funding levels, no new programming capacity was available for project programming. The CTC also directed the regions to delay current projects in the STIP as funding availability in the earlier years of the 2016 STIP cycle were lower than previously anticipated. STIP revenues have been steadily declining with the increase in alternative fuel vehicles and overall fuel efficiency. This is beneficial to meeting air quality goals and targets; however, it is detrimental to funding transportation improvements and maintenance of the system. At its January 20-21, 2016 meeting, the CTC adjusted the 2016 Fund Estimate to reflect the most recent budget projections resulting in a $754 million funding reduction to the current total STIP program of $2 billion. The CTC provided each region with its fair share target of this reduction Agenda Item 10 92 and requested each region to reduce its STIP by the respective target. Further, the CTC indicated some regions will need to reduce more than their fair share since some regions have no projects in the STIP. Riverside County’s reduction target is approximately $32 million. CTC requested the regions submit their revised STIPs by February 26, 2016. Staff is recommending the $32 million target come from the I-15/French Valley Parkway interchange project, reducing the STIP funds from $47.6 million to $15,346,000. The interchange project is proposed for programming in FY 2019/20, and it is hoped that policy and/or legislative actions that would help stabilize future STIP programming cycles, such as the 2018 STIP, will occur and replenish the STIP funds by FY 2019/20. The I-15/French Valley Parkway interchange project will be a high priority for any future STIP funds. Commission staff encourages the city of Temecula and Caltrans to continue work on the I-15/French Valley Parkway interchange project so it can remain competitive for future funding opportunities, such as the federal Surface Transportation Program (STP), 2009 Measure A Western County Regional Arterials, and/or Transportation Uniform Mitigation Fee Regional Arterials, in the event the STIP continues to be underfunded. Staff is not recommending replacement funding at this time. The table below summarizes the revised 2016 STIP program of projects including the reduction in STIP funding for I-15/French Valley Parkway interchange project from $46.7 million to $15,346,000. 2016 STIP-RTIP Proposed Program of Projects 2016 STIP Period (FYs 2016/17-2020/21) 2014 STIP Period (FYs 2014/15-2018/19) Agency Project 14/15 15/16 16/17 17/18 18/19 19/20 20/21 Temecula I-15/French Valley Interchange $15,346,000 Caltrans/ RCTC SR-60 Truck Lanes $550,000 $31,555,000 Caltrans *B Cyn Wildlife Crossing $980,000 CVAG CV Link $2,000,000 RCTC **I-15/Railroad Canyon Interchange $2,920,000 RCTC ***I-215 SB Connector $10,000 $8,965,000 RCTC PPM $663,000 $668,000 $668,000 * Remove project. Pre-construction funds allocated in prior years. No construction funds are programmed. ** New STIP project, funds proposed for right of way phase (October 2015 Commission action). *** Remove project from STIP (October 2015 Commission action). Delay beyond 2016 STIP cycle. Agenda Item 10 93 The city of Lake Elsinore’s project is proposed as a new project in the 2016 STIP. CTC staff may not accept new project programming in the 2016 STIP given the direction to delay projects and that no new programming capacity is available. However, with the removal of the I-215 SB connectors project, staff maintains that current funding levels are not being increased by the addition of the I-15/Railroad Canyon Road and Franklin Street interchange project. It must be acknowledged, however, that the CTC may not allow the programming of any new projects in the 2016 STIP. If this is the case, the $2,920,000 proposed for I-15/Railroad Canyon Road and Franklin Street interchange project will be reprogrammed to either the I-15/French Valley Parkway interchange project or SR-60 truck climbing lanes project. The lack of STIP funding impacts future projects that currently need funding. Without a reliable and stable fund source at the state level, projects will rely heavily on federal and local fund sources, which cannot support the demand of several local interchange and regional arterial projects currently in the pipeline. Staff will be required to reflect the final adopted 2016 STIP funding recommendations in the Federal Transportation Improvement Program. Since the Commission is not a lead agency for the effected projects, there is no fiscal impact to the Commission’s budget. Agenda Item 10 94 AGENDA ITEM 11 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 TO: Budget and Implementation Committee FROM: Shirley Medina, Planning and Programming Director THROUGH: John Standiford, Deputy Executive Director SUBJECT: California Transportation Commission’s Approval of the Southern California Association of Governments Metropolitan Planning Organization Active Transportation Program Cycle 2 Program of Projects for Riverside County STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file a report on the California Transportation Commission’s (CTC) approval of the Southern California Association of Governments (SCAG) Metropolitan Planning Organization (MPO) Active Transportation Program (ATP) Cycle 2 program of projects; 2) Approve funding the city of Coachella’s ATP Cycle 2 Bicycle and Pedestrian improvements project with $2.2 million of SB 821 funds; and 3) Forward to the Commission for final action. BACKGROUND INFORMATION: At its November 12, 2015 meeting, the Commission approved projects for funding and inclusion in the SCAG MPO fund for ATP Cycle 2. These recommendations were based on the CTC’s evaluation of projects and projects with the highest scores (80 through 83 points) were recommended for funding. The total ATP requested funding for these projects was over $11 million, exceeding the Riverside County ATP share of $9,204,000. There were three projects that scored 80 points and were recommended to be funded with ATP and/or a combination of SB 821 and federal funds in order to fully fund these projects. The ATP consists of state and federal sources, and SCAG was responsible for determining the fund source for each ATP project in the region. SCAG recommended state funds for those projects that were slightly above $1 million or below. Therefore, all of the Riverside County projects, with the exception of the city of Coachella’s project, were designated for state funds. SCAG then forwarded the MPO regional ATP projects and funding source recommendations to the CTC for final approval at its January 20-21, 2016 meeting. The following are the SCAG MPO ATP Cycle 2 Riverside County projects: Agenda Item 11 95 Agency Project ATP Request CTC Score Wildomar Grand Avenue Multi-Use Trail Improvement $1,223,000 83 Moreno Valley Segment of Juan Bautista De Anza Multi-Use Trail 1,431,000 83 Jurupa Valley Jurupa Valley High School Safe Routes to School 1,252,000 82 Riverside Citywide Bicycle and Pedestrian Improvements 1,042,000 82 Banning Bicycle and Safe Routes to School Improvements 1,082,000 82 San Jacinto San Jacinto Valley Connect 646,000 81 Riverside Co Camino Aventura Sidewalk Safety Improvements 902,000 81 Riverside Co Mecca Sidewalk & Roadway Safety Improvements 851,000 80 *Riverside Co Thousand Palms Sidewalk Safety Improvements 775,000 80 Riverside County ATP Share $9,204,000 *ATP fund request was reduced from $868,000 to $775,000 to meet the County share target of $9,204,000. Riverside County Transportation Department will realize savings due to receipt of State only funding for all three County ATP projects and therefore concurs with this reduction. The city of Coachella’s ATP Cycle 2 Bicycle and Pedestrian improvements project, in the amount of $2.2 million, was one of the three projects that scored 80 points. Consistent with the Commission’s November 2015 meeting recommendation, staff is recommending Coachella’s project to be funded with available SB 821 funds. Staff will program the above projects in the Federal Transportation Improvement Program as required by state and federal programming regulations. Financial Impact ATP funds are administered through the CTC, Caltrans, and 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 regarding the MPO ATP funds. The Commission administers the SB 821 program, and sufficient carryover funds remaining from the last call for projects are available for the city of Coachella’s project and will be included in the FY 2017/18 budget. The next SB 821 program call for projects will be held in April 2017. Financial Information In Fiscal Year Budget: N/A Year: FY 2017/18 Amount: $2,200,000 Source of Funds: Local Transportation Fund SB821 program funds Budget Adjustment: N/A GL/Project Accounting No.: 601 62 86106 Fiscal Procedures Approved: Date: 02/11/2016 Attachment: Commission SB 821 Bicycle and Pedestrian Facilities Program FY 2015/16 Recommended Funding Agenda Item 11 96 Total SB 821 Funds Recommended Cummulative Bike Ped Coachella Disadvantaged Agency Project Description Project Cost Requested Allocation Funds Allocated Project Project Valley Project Community Beaumont 8th Street Bike Lane and Sidewalk Improvement 320,000$ 204,000$ 204,000$ 204,000$ x x x Desert Hot Springs Cabot Yerxa School Sidewalk 145,000$ 145,000$ 145,000$ 349,000$ x x x Eastvale Pedestrian Safety Improvements 277,000$ 138,500$ 138,500$ 487,500$ x Hemet Pedestrian Pathway Connectivity Project 125,000$ 62,500$ 62,500$ 550,000$ x x Indian Wells Washington Street Sidewalk 40,000$ 20,000$ 20,000$ 570,000$ x x Indio Highway 111 Pedestrian Improvements: Madison to Rubidoux 434,800$ 217,400$ 217,400$ 787,400$ x x x Jurupa Valley Citywide Bicycle and Pedestrian Master Plan 107,100$ 53,550$ 53,550$ 840,950$ x x x Lake Elsinore Elsinore Middle School Area Missing Link Sidewalk 595,000$ 297,500$ 297,500$ 1,138,450$ x x Lake Elsinore Rosetta Canyon Bicycle Lanes 100,000$ 50,000$ 50,000$ 1,188,450$ x x Moreno Valley Citywide Pedestrian and Bicycle Facility Enhancements 525,000$ 315,000$ 315,000$ 1,503,450$ x x x Palm Springs Indian Canyon Drive Sidewalk: South of San Rafael Drive 152,045$ 66,235$ 66,235$ 1,569,685$ x x Palm Springs Indian Canyon Drive Sidewalk: South of Racquet Club Road 168,935$ 65,715$ 65,715$ 1,635,400$ x x Perris*Perris Boulevard Pedestrian Improvements 100,000$ 68,731$ 68,731$ 1,704,131$ x x Riverside Campbell and Babb Avenue Sidewalks 428,220$ 214,110$ 214,110$ 1,918,241$ x x Riverside Pedestrian and Bicycle Crossing Improvements 156,125$ 121,505$ 121,505$ 2,039,745$ x x x Riverside County Alessandro Boulevard Bike Lane Project 217,000$ 108,500$ 108,500$ 2,148,245$ x x Riverside County Grand Avenue Sidewalk Safety Improvement: n/o Lakeland Village School 270,000$ 135,000$ 135,000$ 2,283,245$ x x Riverside County Polk Street Sidewalk Improvement 280,000$ 140,000$ 140,000$ 2,423,245$ x x x Riverside County Ramon Road Sidewalk Safety Improvement 163,000$ 81,500$ 81,500$ 2,504,745$ x x x San Jacinto Lyon Avenue Pedestrian Path 80,000$ 40,000$ 40,000$ 2,544,745$ x x Wildomar Grand Avenue Bike Lane: Phase I 949,500$ 109,000$ 109,000$ 2,653,745$ x Wildomar Grand Avenue Bike Lane: Phase II 1,019,100$ 117,000$ 117,000$ 2,770,745$ x Coachella Active Transportation Improvements Phase II 2,731,000$ 2,200,000$ 2,200,000$ 4,970,745$ x x x x Totals 9,383,825$ 4,970,745$ 4,970,745$ 9 of 23 19 of 23 8 of 23 17 of 23 RIVERSIDE COUNTY TRANSPORTATION COMMISSION SB 821 BICYCLE AND PEDESTRIAN FACILITIES PROGRAM FY 2015/16 RECOMMENDED FUNDING 97 AGENDA ITEM 12 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 TO: Budget and Implementation Committee FROM: Eric DeHate, Management Analyst THROUGH: Shirley Medina, Planning and Programming Director SUBJECT: Riverside County 2017 Federal Transportation Improvement Program Financial Resolution STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve Resolution No. 16-001, “Resolution of the Riverside County Transportation Commission Certifying Riverside County has Resources to Fund Projects in the Federal Fiscal Years 2016/17 Through 2021/22 Transportation Improvement Program and Affirming Commitment to Implement All Projects in the Program”; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: Just like the previous federal transportation bill, Moving Ahead for Progress in the 21st Century (MAP-21), Fixing America Surface Transportation Act (FAST) requires Southern California Association of Governments (SCAG) to adopt a Federal Transportation Improvement Program (FTIP) for the metropolitan planning area and for this document be included in the Federal Statewide Transportation Improvement Program (FSTIP) before receiving federal funds for transportation projects. The FSTIP is the short-range program that implements the long-range Regional Transportation Plan/Sustainable Communities Strategy (RTP/SCS) to accomplish improvements in mobility and air quality. The FSTIP implements projects identified in the first six years (FFY 2016/17 – 2021/22) of the long-range 2016 RTP/SCS. The 2016 RTP/SCS adoption is anticipated in June 2016. Anticipated approval of the 2017 FTIP is December 2016. Federal regulations require SCAG to determine the FTIP: 1) conforms to the adopted air plans in the region; 2) implements transportation control measures (TCMs) timely; 3) is financially constrained; 4) includes interagency consultation; and, 5) is consistent with the RTP/SCS. The attached resolution must be included in the 2017 FTIP update to certify the Riverside County portion of the FTIP is financially constrained and to affirm the commitment to implement the projects. Financial constraint and project commitment is defined as follows: Agenda Item 12 98 1. Financial Constraint: The Commission must certify the Riverside County Transportation Improvement Program is financially constrained (projects are not programmed in excess of fund levels) and the funding may be reasonably expected to carry out the program. 2. Project Commitment: The Commission must affirm its highest priorities for funding are the projects in the 2017 FTIP. The affirmation is specifically targeted to enforceable TCMs. TCMs are strategies/projects employed to reduce emissions from on-road mobile sources. Over the past three months, staff reviewed projects submitted by Caltrans, local agencies, and transit operators (sponsor agencies) in Riverside County. The review exercise resulted in concurrence by the sponsor agencies and staff to include federally funded, state funded, and locally funded projects that are regionally significant, including freeways, state highways, principal arterials and major arterials, routes that provide access to major activity centers, goods movement routes, intermodal facilities, and fixed transit routes. Projects that have completed construction were identified and removed from the 2017 FTIP, while other projects were added, deleted, or modified at the request of project sponsors. All project programming was reviewed to ensure each project clearly identified funding sources and schedule and was accomplished with the concurrence of each project sponsor. The end result is that Riverside County is submitting a list of 266 active projects totaling $5.7 billion that are consistent with the 2016 RTP/SCS, conform to the adopted air quality plans in the region, are financially constrained, and affirm project commitment and implementation of TCMs. There are 29 TCM projects in the 2017 FTIP with completion dates ranging from 2016 to 2022, at an estimated cost of $2,143,000,000 (37.6 percent of the total 2017 FTIP cost). The 2017 FTIP Update is scheduled for approval by the SCAG Regional Council by September 2016. SCAG subsequently will pursue the necessary state and federal approvals for the 2017 FTIP. These approvals are anticipated to occur by early December 2016. This item does not have a financial impact, as separate actions have been or will be taken to fund specific projects. Attachments: 1) Resolution No. 16-001 2) 2017 FTIP Funding Summary – FFY 2016/17 – FFY 2021/22 3) TCM Project Categories Agenda Item 12 99 RESOLUTION NO. 16-001 RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION CERTIFYING RIVERSIDE COUNTY HAS RESOURCES TO FUND PROJECTS IN THE FEDERAL FISCAL YEARS 2016/17 THROUGH 2021/22 TRANSPORTATION IMPROVEMENT PROGRAM AND AFFIRMING COMMITMENT TO IMPLEMENT ALL PROJECTS IN THE PROGRAM WHEREAS, Riverside County is located within the metropolitan planning boundaries of the Southern California Association of Governments (SCAG); and WHEREAS, the Fixing America Surface Transportation Act (FAST) requires SCAG to adopt a regional transportation improvement program for the metropolitan area; and WHEREAS, the FAST Act also requires that the regional transportation improvement program include a financial plan that demonstrates how the transportation improvement program can be implemented; and WHEREAS, the Riverside County Transportation Commission (RCTC) is the agency responsible for short-range capital and service planning and programming for the Riverside County area within SCAG; and WHEREAS, as the responsible agency for short-range transportation planning, the RCTC is responsible for developing the Riverside County Transportation Improvement Program (TIP), including all projects utilizing federal and state highway and transit funds; and WHEREAS, the RCTC must determine, on an annual basis, the total amount of funds that could be available for transportation projects within its boundaries; and WHEREAS, the RCTC has adopted the FFY 2016/17 through FFY 2021/22 Riverside County TIP with funding for FFY 2016/17 and FFY 2017/18 available and committed, and reasonably committed for FFY 2018/19 through FFY 2021/2022. NOW, THEREFORE, BE IT RESOLVED by the RCTC that it affirms its continuing commitment to the projects in the FFY 2016/17 through FFY 2021/22 Riverside County TIP; and BE IT FURTHER RESOLVED, that the FFY 2016/17 through FFY 2021/22 Riverside County TIP Financial Plan identifies the resources that are available and committed in the first two years and reasonably available to carry out the program in the last four years, and certifies that: 1.Projects in the FFY 2016/17 through FFY 2021/22 Riverside County TIP are consistent with the Draft 2016 State Transportation Improvement Program (STIP) scheduled to be approved by the California Transportation Commission in May 2016; and ATTACHMENT 1 100 2. All of the projects in the Riverside County TIP have complete funding identified in the Program based on reasonably available funding; and 3. Riverside County has the funding capacity in its county Surface Transportation Program (STP) and Congestion Mitigation and Air Quality Program (CMAQ) allocation to fund all of the projects in the FFY 2016/17 through FFY 2021/22 Riverside County TIP; and 4. The local match for projects funded with federal STP and CMAQ program funds is identified in the TIP; and 5. All the Federal Transit Administration funded projects are programmed within FAST Act Guaranteed Funding Levels. APPROVED AND ADOPTED this 9th day of March, 2016. __________________________________________ Scott Matas, Chair Riverside County Transportation Commission ATTEST: _____________________________________ Jennifer Harmon, Clerk of the Board Riverside County Transportation Commission 101 Fund Summary (options) 2017 FTIP (FY 2016/2017 - FY 2021/2022) Local Highway, State Highway, Transit Pending Cost in Thousands RiversideCounty Prior 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 Total Local ADCONST LOCAL - ADVANCED CONSTRUCTION AGENCY AGENCY 1,143,050 437,389 294,567 203,567 142,746 33,494 4,834 1,116,597 BONDL BONDS - LOCAL 276,220 316,500 910,000 215,835 151,300 1,593,635 CITY CITY FUNDS 218,502 93,047 203,332 76,845 201,853 162,981 45,551 783,609 CMAQ-AC CMAQ-ADVANCE CONSTRUCTION 12,643 17,929 24,428 55,000 CO COUNTY 81,268 60,760 47,429 40,700 148,889 DEV FEE DEVELOPER FEES 17,605 22,956 16,607 39,541 25,000 49,000 34,000 187,104 ERVTUMF EASTERN RIV TUMF 3,335 250 3,635 394 7,454 19,953 9,600 41,286 FARE FARE REVENUE 38,696 23,012 23,012 LOC-AC LOCAL ADVANCE CONSTRUCTION 55,000 -12,643 -17,929 -24,428 LTF LOCAL TRANS FUNDS 144,556 78,283 78,283 PVT PRIVATE FUNDS 5,350 10,500 2,000 12,500 TDA4 TDA ARTICLE #4 5,555 WRVTUMF WESTERN RIV TUMF 163,858 23,408 52,231 28,900 46,400 150,939 XRIV RIV CO SALES TAX 362,330 45,710 44,689 43,000 137,940 59,960 331,299 SubTotal Local 2,460,325 1,156,315 1,572,490 659,282 712,693 327,388 93,985 4,522,153 State AB2766 STATE AB2766 864 ATP ACTIVE TRANSPORTATION PROGRAM 14,177 7,754 7,754 ATP-MPO ACTIVE TRANSPORTATION PROGRAM - MPO 5,488 3,664 711 4,375 CAPTRAD CAP AND TRADE PROGRAM 156 CMIA CORRIDOR MOBILITY PROGRAM 38,779 GRV-NH NATIONAL HIGHWAY SYSTEM (GARVEE) 291,109 GRV-STP SURFACE TRANS PROG - GARVEE 240,000 LBSRA LOCAL BRIDGE SEISMIC RETROFIT ACCOUNT 6 278 57 242 4,221 4,798 NH-HM NATIONAL HWY SYSTEM - HM 9,553 NH-IIP NATIONAL HWY SYSTEM - IIP 19,905 NH-RIP NATIONAL HWY SYSTEM - RIP 43,787 PTMISEA PUBLIC TRANS MODERINAZATION IMP AND SERV. ENHANCEMENT ACCT. 56,620 SHOPPAC SHOPP - ADVANCE CONSTRUCTION 222,632 85,515 425,115 510,630 SHPACMIN SHOPP ADVANCE CONSTRUCTION (AC) - CT MINOR 990 10 1,000 SLP STATE LOCAL PARTNER 44,173 S-PARK STATE PARK FUNDS 446 STA STATE TRANSIT ASSIST 31,063 4,245 126 4,371 STA-PUC STATE PUC 25,000 15,000 15,000 Print Date: 2/11/2016 12:07:01 PM Page: 1 of 4 ATTACHMENT 2 102 Fund Summary (options) 2017 FTIP (FY 2016/2017 - FY 2021/2022) Local Highway, State Highway, Transit Pending Cost in Thousands RiversideCounty Prior 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 Total State ST-CASH STATE CASH 1,600 1,600 1,600 1,600 1,600 1,600 9,600 STCASHCT STATE CASH - CT MINOR PROGRAM 248 STCASHHM STATE CASH – HM 4,003 STCASHI STATE CASH - IIP 3,932 STCASHR STATE CASH - RIP 14,665 STIPACRP STIP ADVANCE CON-RIP 90,790 3,470 31,555 2,000 47,600 84,625 STPE-I STP ENHANCE-IIP TEA 1,832 STP-GR STP-GRANDFATHER RIP 69,610 STP-RIP SURFACE TRANS PROG - RIP 54,198 TCIF TRADE CORRIDOR PROGRAM 111,364 TCRF TRAFFIC CONGESTION RELIEF 35,274 TSSSDR TRANSIT SYSTEM SAFETY,SECURITY AND DISASTER RESPONSE ACCOUNT 373 SubTotal State 1,430,047 106,248 459,259 3,783 49,442 21,811 1,610 642,153 Federal Transit 5307 FTA 5307 UZA FORMULAR 67,587 3,350 3,350 5307H HEMET URBANIZED AREA 8,552 8,552 5307IC INDIO-CATHEDRAL CITY URBANIZED AREA 16,021 5307LA LOS ANGELES/LONG BEACH/SANTA ANA URBANIZED AREA 156 156 5307MT MURRIETA-TEMECULA-MENIFEE URBANIZED AREA 5,370 9,816 9,816 5307-OP FTA 5307-OPERATING 925 5307RS RIVERSIDE/SAN BERNARDINO URBANIZED AREA 25,335 18,867 714 19,581 5307-TR FTA 5307 (FHWA TRANSFER FUNDS)65,578 5308 CLEAN FUEL FORMULA 7,318 5309a FTA 5309(a) GUIDEWY 13,149 5309b FTA 5309(b) NEW RAIL 75,000 5309c FTA 5309(c) BUS 14,359 25 25 5310 FTA 5310 ELD AND DISABI 1,496 5310IC INDIO-CATHEDRAL CITY URBANIZED AREA - EM 861 5310MT MURRIETA-TEMECULA-MENIFEE URBANIZED AREA - EM 504 5310RS RIVERSIDE-SAN BERNARDINO URBANIZED AREA - EM 1,389 5311 5311 - NONURBANIZED AREA FORMULA PROGRAM 2,997 1,030 1,030 Print Date: 2/11/2016 12:07:01 PM Page: 2 of 4103 Fund Summary (options) 2017 FTIP (FY 2016/2017 - FY 2021/2022) Local Highway, State Highway, Transit Pending Cost in Thousands RiversideCounty Prior 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 Total Federal Transit 5312 NATIONAL RESEARCH AND TECHNOLOGY 9,804 5316 FTA 5316 JOB ACCESS PROGRAM 3,086 587 587 5317 FTA 5317 NEW FREEDOM PROGRAM 2,042 308 308 5337RS RIVERSIDE-SAN BERNARDINO URBANIZED AREA 11,632 5339H HEMET URBANIZED AREA - BFG 338 338 5339IC INDIO-CATHEDRAL CITY URBANIZED AREA - BFG 914 5339LA LOS ANGELES -LONG BEACH-ANAHEIM URBANIZED AREA - BFG 8 8 5339MT MURRIETA-TEMECULA-MENIFEE URBANIZED AREA - BFG 977 977 5339RS RIVERSIDE-SAN BERNARDINO URBANIZED AREA - BFG 195 2,239 2,239 AR-5307 ARRA - FTA 5307 8,036 SubTotal Federal Transit 333,598 46,253 714 46,967 Federal Highway 1112 RECREATIONAL TRAILS 339 25 25 2006EAR FFY 2006 APPROPRIATIONS EARMARKS 4,229 2009EAR FFY 2009 Appropriations Earmarks 1,330 2010EAR FFY 2010 APPROPRIATIONS EARMARKS 674 CMAQ CMAQ 104,062 29,952 24,143 14,976 69,071 DEMOSTL DEMO-SAFETEA-LU 22,455 2,374 671 769 3,814 DEMOT21 DEMO - TEA 21 7,918 HBRR-L BRIDGE - LOCAL 37,699 25,508 27,407 4,858 2,617 356,857 22,322 439,569 IM INTERSTATE MAINTENANC 238 238 PLH PUBLIC LAND HWYS 631 PNRS PROJECTS OF NATIONAL AND REGIONAL SIGNIFICANCE 18,700 SCE129 SECTION 129 - SURFACE TRANSPORTATION PRIORITIES 1,391 1,470 1,470 SEC125 Section 125 - Surface Transportation Priorities 570 855 855 STP SURFACE TRANS PROG 3,414 750 750 STP4818 SURFACE TRANS PROG - HR4818 1,554 STPL STP LOCAL 139,994 25,385 4,275 1,361 31,021 STP-RL RAILWAY-HIGHWAY CROSSINGS 11,270 SubTotal Federal Highway 356,230 86,557 56,496 19,834 3,386 358,218 22,322 546,813 Print Date: 2/11/2016 12:07:01 PM Page: 3 of 4104 Fund Summary (options) 2017 FTIP (FY 2016/2017 - FY 2021/2022) Local Highway, State Highway, Transit Pending Cost in Thousands RiversideCounty Prior 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 Total Innovative Finance TIFIA TRANSPORTATION INFRASTRUCTURE FINANCE & INNOVATION ACT 421,054 SubTotal Innovative Finance 421,054 County Total Riverside 5,001,254 1,395,373 2,088,245 683,613 765,521 707,417 117,917 5,758,086 Print Date: 2/11/2016 12:07:01 PM Page: 4 of 4105 TABLE III -3.1RIVERSIDE COUNTY TCMS SUBJECT TO TIMELY IMPLEMENTATION LEAD AGENCY PROJECT ID PROJECT DESCRIPTION ORIGINAL COMPLETION DATE 2017 FTIP COMPLETION DATE 2016 RTP/SCS COMPLETION DATE 2016 RTP/SCS PROJECT STATUS CITY OF EASTVALE RIV151201 IN WESTERN RIVERSIDE COUNTY IN THE CITY OF EASTVALE - TRAFFIC SYCHRONIZATION OF SIX TRAFFIC SIGNALIZED INTERSECTIONS ALONG HAMNER AVENUE FROM SCHLEISMAN ROAD TO EASTVALE GATEWAY 12/31/2015 12/31/2015 12/31/2015 Project completed 12/31/15. MORENO VALLEY RIV071240 IN THE CITY OF MORENO VALLEY - EAST BOUND CACTUS AVE WIDENING BETWEEN VETERANS WAY & HEACOCK: WIDENING OF EAST BOUND CACTUS AVE FROM 2 TO 3 LANES, INCLUDING TRAFFIC SIGNAL MODIFICATIONS WITHIN THE PROJECT REACH, CHANNELIZATION, AND SIGNAL INTERCONNECT SYSTEM (6 SIGNALS). 6/1/2013 2/28/2015 11/30/2015 Project completed 2/28/15. MORENO VALLEY RIV080902 AT SR-60/REDLANDS BLVD - WIDEN OC FROM 2 TO 6 THRU LANES; WIDEN WB EXIT & ENTRY RAMPS FROM 1 LANE TO 2 LANES AT EXIT/ENTRY, 3 LANES AT ARTERIAL AND HOV AT ENTRY; WIDEN EB EXIT & ENTRY RAMPS FROM 1 LANE TO 2 LANES AT EXIT/ENTRY AND HOV AT ENTRY; ADD AUX LANES 1000' EACH DIRECTION WEST OF IC AND 1700' EACH DIRECTION EAST OF IC. 1/1/2020 12/31/2023 2020 Schedule delay associated with a late start of the PA&ED. MORENO VALLEY RIV151202 IN WESTERN RIVERSIDE COUNTY IN THE CITY OF MORENO VALLEY - DESIGN AND CONSTRUCTION OF ITS, INCLUDING AN ETHERNET FIBER-OPTIC BACKBONE SYSTEM, CCTV CAMERAS AT 26 KEY INTERSECTIONS, AND NEW TRAFFIC SIGNAL CONTROLLERS AT EXISTING 43 SIGNALIZED INTERSECTIONS (CMAQ PM 2.5 BENEFITS .21 KG/DAY) 12/31/2016 12/31/2016 12/31/2016 Project is on track for completion by 12/31/2016. The project is currently completing the Environmental phase (NEPA). PERRIS RIV140850 IN WESTERN RIVERSIDE CO. IN THE CITY OF PERRIS – MURRIETA RD PED IMPROVEMENTS: INSTALL 1.0 MILE OF SIDEWALK GAPS, CURB & GUTTER ON W-SIDE OF MURRIETA RD W/ CLASS II BIKE LANES IN BOTH DIRECTIONS B/W SAN JACINTO AVE & 1000’ NORTH OF NUEVO RD; 10’ WIDE BRIDGE OVER METZ FLOOD CONTROL CHANNEL; TRAFFIC SIGNAL AT MURRIETA & NUEVO RDS; NEW SIDEWALK ON DALE ST B/W WILSON & MURRIETA RD. TC TO MATCH ATP 12/31/2020 12/31/2020 12/31/2020 Project is under construction – project will be completed ahead of the anticipated schedule of 2020. February 2016 1 ATTACHMENT 3 106 TABLE III -3.1RIVERSIDE COUNTY TCMS SUBJECT TO TIMELY IMPLEMENTATION LEAD AGENCY PROJECT ID PROJECT DESCRIPTION ORIGINAL COMPLETION DATE 2017 FTIP COMPLETION DATE 2016 RTP/SCS COMPLETION DATE 2016 RTP/SCS PROJECT STATUS RIVERSIDE COUNTY RIV140838 IN WESTERN RIVERSIDE CO. FOR THE COUNTY OF RIVERSIDE IN MEAD VALLEY-CLARK ST S/W & INTERSECTION SAFETY IMPROVEMENTS: ON EASTSIDE OF CLARK ST B/W RIDER ST AND CAJALCO RD, CONSTRUCT APPROX. 2,000 L.F. OF CONCRETE SIDEWALK, CURB & GUTTER, PAVEMENT IMPROVEMENTS, NEW CURB RAMPS MEETING LATEST ADA REQS, DRIVEWAY APPROACHES, SIGNS, MARKINGS, & OTHER INCIDENTAL ITEMS TO IMPROVE PEDESTRIAN SAFETY. 12/31/2021 12/31/2021 12/31/2021 Project is on track for completion by 12/31/2021. The project is currently in Environmental with ATP funds for PA&ED allocated at the 3/26/2015 CTC meeting. RIVERSIDE COUNTY RIV151210 IN WESTERN RIVERSIDE COUNTY FOR THE COUNTY OF RIVERSIDE - CONSTRUCTION OF A 7.2 MILE MULTI-MODAL URBAN TRAIL ALONG THE SALT CREEK FLOOD CONTROL CHANNEL BETWEEN THE COMMUNITIES OF HEMET, MENIFEE AND CANYON LAKE. THE MULTI-MODAL TRAIL WILL INCLUDE A 16 FT WIDE CLASS I BIKEWAY AND 12 FT WIDE DECOMPOSED GRANITE PEDESTRIAL TRAIL 12/31/2018 12/31/2018 12/31/2018 Project is on track for completion by 12/31/2018.The project is currently in PA&ED. RIVERSIDE COUNTY TRANS COMMISSION (RCTC) RIV151104 FREEWAY SERVICE PATROL - CONTINUING IMPLEMENTATION OF FREEWAY SERVICE PATROL ON SR91 (ORANGE CO LINE TO 60/91/215), SR60 (MILLIKEN TO MAIN), SR60/I-215 IC TO THEODORE, I-215 (RIVERSIDE COUNTY LINE TO SR-74/4TH ST), I-15 (HIDDEN VALLEY PKWY TO SR60), AND ON I-15 (MAGNOLIA AVE TO INDIAN TRUCK TR). NEW PROJECT IN THE 2017 FTIP 12/31/2022 2020 New project in the 2017 FTIP. FSP funded by RCTC Measure A and State Cash. FSV is an on-going program in Riverside County to assist stranded motorist, improve safety, and reduce congestion. RIVERSIDE COUNTY TRANS COMMISSION (RCTC) RIV071250 ON SR-91/I-15: SR91 - CONST 1 MF LN (SR71-I15)/1 AUX LN VAR LOCS(SR241-PIERCE) (OC PM 14.43- 18.91), CD SYSTEM (2/3/4 LNS MAIN-I15), 1 TOLL EXPR LN (TEL) & CONVERT HOV TO TEL EA DIR (OC-I15); I15- CONST TEL MED DIR CONNCT NB15 TO WB91 AND EB91 TO SB15, 1 TEL EA DIR SR91 DIR CONNCT-ONTARIO IC (I15 PM 37.56-42.94). 7/31/2017 9/4/2017 9/4/2017 As of 2/9/16, Design /Build Contract is 60% Complete. Project completion on track in 2017. RIVERSIDE COUNTY TRANS COMMISSION (RCTC) RIV111207 IN WESTERN RIVERSIDE COUNTY - CONTINUE THE IMPLEMENTATION OF PARK-N-RIDE FACILITIES THROUGH PROPERTY LEASES (VARIOUS LOCATIONS THROUGHOUT THE WESTERN COUNTY). 12/30/2018 12/30/2022 12/30/2022 On-going RCTC program as part of the Commission’s commuter assistance activities for Western Riverside County. Funding has been extended to continue P-N-R until 2022. February 2016 2 107 TABLE III -3.1RIVERSIDE COUNTY TCMS SUBJECT TO TIMELY IMPLEMENTATION LEAD AGENCY PROJECT ID PROJECT DESCRIPTION ORIGINAL COMPLETION DATE 2017 FTIP COMPLETION DATE 2016 RTP/SCS COMPLETION DATE 2016 RTP/SCS PROJECT STATUS RIVERSIDE COUNTY TRANS COMMISSION (RCTC) RIV520109 RECONSTRUCT & UPGRADE SAN JACINTO BRANCH LINE FOR RAIL PASSENGER SERVICE (RIVERSIDE TO PERRIS) (PERRIS VALLEY LINE) (FY 07 5307) (UZA: RIV-SAN). 2012 12/31/2015 12/31/2015 Project is complete – waiting for Metrolink to start service in early Spring 2016. RIVERSIDE COUNTY TRANS COMMISSION (RCTC) RIV520111 REGIONAL RIDESHARE - CONTINUING PROGRAM 2009 6/30/2018 6/30/2018 On-going RCTC program as part of the Commission’s commuter assistance activities for Western Riverside County. RIVERSIDE COUNTY TRANS COMMISSION (RCTC) RIV071267 I-15 IN RIVERSIDE COUNTY: CONSTRUCT 4 TOLL EXPR LNS (TEL) (2 TE EA DIR) FROM SR60 (PM 51.4) TO HIDDEN VALLEY PKWY (PM 42.9) AND CONS 2 TE LNS (1 TE EA DIR) FROM HIDDEN VALLEY PKWY (PM 42.9) TO CAJALCO RD (PM 36.8). ADVANCE SIGNAGE WILL BE INSTALLED A THE SOUTH END BETWEEN PM 34.7 TO PM 36.8 (CAJALCO RD) AND AT THE NORTH END BETWEEN PM 51.4 (SR60) TO PM 1.3 IN SAN BERNARDINO COUNTY. 12/31/2020 12/31/2020 12/31/2020 NEPA clearance (MND/FONSI) anticipated approval in early Spring 2016. Subsequent to NEPA approval, RCTC will proceed with Design Build Procurement; start of construction in Spring 2017 and completion in Fall 2020. ON SCHEDULE. RIVERSIDE COUNTY TRANS COMMISSION (RCTC) RIV110914 IN RIVERSIDE AND SAN BERNARDINO COUNTY – FOR RIVERSIDE – SAN BERNARDINO COUNTY INDIAN HEALTH, INC.: PURCHASE OF FIVE MINI- VANS FOR SERVICE EXPANSION NEW TCM PROJECT IN THE 2017 FTIP 12/31/2014 2040 Project Complete – all vehicles delivered and currently utilized. RTP ID REG0702 is a lump sum listing for transit operations with a horizon year of 2040. RIVERSIDE TRANSIT AGENCY RIV090609 IN WESTERN RIVERSIDE COUNTY FOR RTA: INSTALL ADVANCE TRAVELER INFORMATION SYSTEMS (ATIS) ON VARIOUS FIXED ROUTE VEHICLES AND INSTALLATION OF ELECTRONIC MESSAGE SIGNS AT APPROX. 60 BUS STOPS (FY ‘S 05, 07, 08, 09, AND 10 – 5309). 2011 12/30/2015 12/30/2015 COMPLETED. RIVERSIDE TRANSIT AGENCY RIV151211 IN WESTERN RIVERSIDE COUNTY FOR RTA: RAPIDLINK SERVICE ALONG THE RTE 1 SERVICE AREA DURING WEEKDAY PEAK COMMUTE PERIODS ALONG UNIVERSITY AND MAGNOLIA AVES (RIVERSIDE/CORONA CORRIDOR) BETWEEN UCR AND CORONA. THIS INCLUDES PURCHASE OF 14 NEW BUSES (40 FT) AND OPERATING ASSISTANCE FOR THE FIRST THREE TO FIVE YEARS OF SERVICE. (CMAQ - $9,212K) (BENEFITS FOR PM 2.5 = .239 KG/DAY; PM 10 = .258 KG/DAY) 12/31/2020 12/31/2020 12/31/2020 Project is on schedule. RTA will begin procuring revenue service vehicles for the implementation of Rapid Link 1 - Service scheduled to start in July 1, 2016. February 2016 3 108 TABLE III -3.1RIVERSIDE COUNTY TCMS SUBJECT TO TIMELY IMPLEMENTATION LEAD AGENCY PROJECT ID PROJECT DESCRIPTION ORIGINAL COMPLETION DATE 2017 FTIP COMPLETION DATE 2016 RTP/SCS COMPLETION DATE 2016 RTP/SCS PROJECT STATUS RIVERSIDE TRANSIT AGENCY RIV140827 IN WESTERN RIVERSIDE COUNTY FOR RTA: PURCHASE OF TEN EXPANSION PARATRANSIT BUSES TO MEET SERVICE DEMAND. NEW TCM PROJECT IN THE 2017 FTIP 12/31/2020 2035 Project on track for completion in 2020. RTP ID is 3120029 with completion date of 2035. RIVERSIDE, CITY OF RIV140841 IN WESTERN RIVERSIDE COUNTY FOR CITY OF RIVERSIDE-IOWA AVE & MLK BLVD BIKE IMPROVEMENTS: CONSTRUCT 0.8 MI 10 FT WIDE TWO DIR MULTI-USE PATH ON N.SIDE OF MLK BLVD B/W CANYON CREST DR & CHICAGO AVE & WIDENING IOWA AVE B/W MLK BLVD & EVERTON PL INCLUDES GRADING, ASPHALT PAVING, SIGNS, & RESTRIPING & INSTALL 6 FT CLASS II BIKE LNS FOR 0.8 MI WITH 2 FT BUFFERS 12/31/2020 12/31/2020 12/31/2020 Project is on track for completion by 12/31/2020.The project is currently in PA&ED. RIVERSIDE, CITY OF RIV140843 IN WESTERN RIVERSIDE COUNTY IN THE CITY OF RIVERSIDE-WELLS/ARLANZA SIDEWALK IMPROVEMENTS: INSTALL ADA RAMPS, DRIVEWAY APPROACHES & 32,730 SQ FT OF SIDEWALK ON ONE SIDE OF FIVE STREETS (CHALLEN AVE, IVANHOE AVE, KENT AVE, RUTLAND AVE, BABB AVE) SURROUNDING WELLS MIDDLE SCHOOL AND ARLANZA ELEMENTARY SCHOOL. TC USED TO MATCH ATP FUNDS 12/31/2020 12/31/2020 12/31/2020 Project is on track for completion by 12/31/2020.The project is currently in PA&ED. RIVERSIDE, CITY OF RIV140844 IN WESTERN RIVERSIDE CO. IN THE CITY OF RIVERSIDE - NORTE VISTA SIDEWALK IMPROVEMENTS: INSTALL ADA RAMPS, DRIVEWAY APPROACHES & 94,200 SQ.FT. OF SIDEWALK ON ONE SIDE OF FOUR STREETS (GAYLORD ST, JONES AVE, CHADBOURNE AVE, BUSHNELL AVE) NEAR NORTE VISTA HIGH SCHOOL, ROSEMARY KENNEDY ELEMENTARY SCHOOL, AND TWINHILL ELEMENTARY SCHOOL. TC USED TO MATCH ATP 12/31/2020 12/31/2020 12/31/2020 Project is on track for completion by 12/31/2020.The project is currently in PA&ED. February 2016 4 109 TABLE III -3.1RIVERSIDE COUNTY TCMS SUBJECT TO TIMELY IMPLEMENTATION LEAD AGENCY PROJECT ID PROJECT DESCRIPTION ORIGINAL COMPLETION DATE 2017 FTIP COMPLETION DATE 2016 RTP/SCS COMPLETION DATE 2016 RTP/SCS PROJECT STATUS RIVERSIDE, CITY OF RIV140852 IN WESTERN RIVERSIDE CO. IN THE CITY OF RIVERSIDE – DOWNTOWN & ADJOINING AREAS BICYCLE AND PED IMPROVEMENTS: 17 MILES OF BIKE LANES, 2,500 FT. OF CONNECTING SIDEWALKS, BIKE STATION AT METROLINK, CONNECTIVITY MAP KIOSKS, TWO NEW HAWK SIGNALS, BIKE STAGING AREA, BIKE SHARE TERMINAL, BIKE CORRALS, BIKE BLVD, PEDESTRIAN SIGNALS, WALKING PATH, ALL-WAY STOP CROSSWALK & NEW SIDEWALK. 12/31/2020 12/31/2020 12/31/2020 Project is on track for completion by 12/31/2020.The project is currently in PA&ED. RIVERSIDE, CITY OF RIV151205 IN WESTERN RIVERSIDE COUNTY IN THE CITY OF RIVERSIDE - INSTALL FIBER-OPTIC SIGNAL INTERCONNECT IMPROVEMENTS ON MARKET ST/MAGNOLIA AVE FROM FIRST ST TO BUCHANAN ST AND INSTALL MISSING CONDUITS ON MAGNOLIA AVE FROM LA SIERRA AVE TO PIERCE ST UPDATING 49 SIGNALIZED INTERSECTIONS 12/31/2016 12/31/2016 12/31/2016 Project is on track for completion by 12/31/2016. RIVERSIDE, CITY OF RIV151209 IN WESTERN RIVERSIDE COUNTY IN THE CITY OF RIVERSIDE - INSTALL UP TO FOUR BICYCLE STATIONS AND PROVIDE FORTY BICYCLES, TEN AT EACH STATION, TO IMPLEMENT A BIKE SHARE PROGRAM IN THE VICINITY OF DOWNTOWN RIVERSIDE, RIVERSIDE METROLINK STATION AND UNIVERSITY OF CALIFORNIA IN RIVERSIDE. 12/31/2015 12/31/2016 12/31/2016 Project experienced delays with the logistics for bike share locations. NEPA will be secured late February 2016. Request for federal CMAQ funds will follow in Spring 2016. RIVERSIDE, CITY OF RIV151215 IN WESTERN RIVERSIDE COUNTY IN THE CITY OF RIVERSIDE - CONSTRUCTION OF SIDEWALK ON ONE SIDE OF BRUCE STREET FROM ADAIR AVE TO LAKE AVE. IMPROVEMENTS INCLUDE A TOTAL OF 2,100 LF OF NEW SIDEWALK 12/31/2015 12/31/2016 12/31/2016 Minor project delays associated with biological and cultural studies required by Caltrans Environmental. The City of Riverside is committed to delivering the project by Dec 31, 2016. February 2016 5 110 TABLE III -3.1RIVERSIDE COUNTY TCMS SUBJECT TO TIMELY IMPLEMENTATION LEAD AGENCY PROJECT ID PROJECT DESCRIPTION ORIGINAL COMPLETION DATE 2017 FTIP COMPLETION DATE 2016 RTP/SCS COMPLETION DATE 2016 RTP/SCS PROJECT STATUS SAN JACINTO RIV140856 IN WESTERN RIVERSIDE CO. IN THE CITY OF SAN JACINTO – SAFE & ACTIVE SAN JACINTO SRTS: INFRASTRUCTURE INCLUDES 33,275 SQ. FT. OF NEW SIDEWALK, 5,215 SQ. FT. OF EXISTING SIDEWALK UPGRADES, 52,800 SQ. FT. OF BIKE TRAILS WITHIN WALKING DISTANCE TO SCHOOLS; NON-INFRASTRUCTURE INCLUDES PED/BIKE SAFETY EDUCAITON, SRTS WORKSHOPS, DEVELOPMENT OF SRTS PLANS FOR EACH SCHOOL, AND OUTREACH. 12/31/2020 12/31/2020 12/31/2020 Project is on track for completion by 12/31/2020.The project is currently in design. TEMECULA RIV62029 IN SOUTHWEST RIVERSIDE COUNTY IN TEMECULA ON TEMECULA PKWY (FORMERLY SR79) AT LA PAZ ST: ACQUIRE LAND, DESIGN AND CONSTRUCT PARK-AND-RIDE LOT - 157 SPACES. OTHER IMPROVEMENTS INCLUDE THE CONSTRUCTION OF 10 BICYCLE LOCKERS, PASSENGER LOAD/UNLOAD ZONE AND ADA ACCESSIBLE PARKING. 2004/2007 12/31/2016 12/31/2016 Federal funds obligated for construction; project completion anticipated by Dec. 2016. WILDOMAR RIV151213 IN WESTERN RIVERSIDE COUNTY IN THE CITY OF WILDOMAR - WIDENING OF GRAND AVE (CLINTON KEITH RD TO DAVID BROWN MIDDLE SCHOOL) TO INCLUDE A CLASS II BIKE LANE AND MINIMAL WORK TO INCORPORATE CLASS II/III BIKE LANES ON CLINTON KEITH RD FROM GRAND AVE TO GEORGE AVE. IMPROVEMENTS INCLUDE A TOTAL OF 7,300 LF OF NEW BIKE LANES 12/31/2015 12/31/2016 12/31/2016 Minor delay experienced due to the fact that a more competitive bid can be achieved by combining RIV151213 and RIV151214. Project currently clearing NEPA. WILDOMAR RIV151214 IN WESTERN RIVERSIDE COUNTY IN THE CITY OF WILDOMAR – WIDENING OF GRAND AVE (CORYDON RD TO DAVID BROWN MIDDLE SCHOOL) TO INCLUDE A CLASS II BIKE LANES. IMPROVEMENTS INCLUDE A TOTAL OF 12,000 LF OF NEW BIKE LANES 12/31/2016 12/31/2016 12/31/2016 Project has been combined with RIV151213. Project currently clearing NEPA RTA RIV160201 IN WESTERN RIVERSIDE CO FOR RTA - NEW EXPRESS BUS SERVICE: ROUTE 200 AND 205 CREATED TO SUPPORT INCREASED COMMUTER TRANSIT, UTILIZING THE NEW SR91 EXPRESS LANES FROM NO. RIVERSIDE CO TO ORANGE CO. BOTH ROUTES WILL PROVIDE PEAK HR EXP SVC TO MAJOR TRANSFER HUBS AND MULTI-MODAL STATIONS INCLUDING P-N-R, EMPLOYMENT 12/31/2021 12/31/2021 12/31/2040 TCM Substitute Project for RIV041030 and RIV050553 (above). Start of service of new Express Routes 200 and 205 is 2017; operating funding is provided by RCTC for five years (2016/17 – 2020/21). February 2016 6 111 TABLE III -3.1RIVERSIDE COUNTY TCMS SUBJECT TO TIMELY IMPLEMENTATION LEAD AGENCY PROJECT ID PROJECT DESCRIPTION ORIGINAL COMPLETION DATE 2017 FTIP COMPLETION DATE 2016 RTP/SCS COMPLETION DATE 2016 RTP/SCS PROJECT STATUS CENTERS, & RETAIL DESTINATIONS IN RIV & ORANGE COUNTY. February 2016 7 112 AGENDA ITEM 13 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 TO: Budget and Implementation Committee FROM: Technical Advisory Committee Grace Alvarez, Planning and Programming Manager THROUGH: Shirley Medina, Planning and Programming Director SUBJECT: City of Corona's Surface Transportation Program Reprogramming Request TECHNICAL ADVISORY COMMITTEE AND STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve the city of Corona’s (Corona) request to reprogram $943,000 of federal Surface Transportation Program (STP) funds from the Magnolia Avenue landscaped median project to the Magnolia Avenue bridge widening improvement project; 2) Authorize staff to include the Magnolia Avenue bridge widening improvement project in the Federal Transportation Improvement Program (FTIP), and accordingly delete the Magnolia Avenue landscaped median project from the FTIP; and 3) Forward to the Commission for final action. BACKGROUND INFORMATION: In 2005, the Commission held a call for projects for Transportation Enhancement (TE) funds under the former State Transportation Improvement Program TE program. The city of Corona’s Magnolia Avenue landscaped median project was approved for TE funds in the amount of $943,000. The project experienced delays mainly due to the changes made to the TE program under the then recently approved federal transportation bill, MAP-21, which was essentially eliminated. Subsequently, the Commission approved replacing unobligated TE funds with STP funds. In late summer 2015, Corona staff met with Caltrans Local Assistance and it was determined that certain project components were deemed ineligible, such as decorative landscaping. As a result, the city met with Commission staff and proposed reprogramming the STP funds to the Magnolia Avenue bridge widening improvement project at the Temescal Channel, closing a gap between E. Sixth Street and Interstate 15. The proposed improvements also include the construction of missing sidewalks, bike lanes, and ADA compliant ramps. The city of Corona is proposing to fund engineering and a portion of the right of way with the STP funds; the city Corona is responsible for the required local match and remaining project cost. Agenda Item 13 113 The estimated cost and schedule is summarized as follows: Phase Cost Schedule Engineering $ 500,000 Summer 2016 – Fall 2018 Right of Way $ 700,000 Summer 2017 – Fall 2018 Construction $2,000,000 Summer 2019 – Fall 2020 Total $3,200,000 The Technical Advisory Committee approved Corona’s reprogramming request on January 25, based on circumstances that were above and beyond the agency’s control (e.g. elimination of the TE program and project eligibility issues regarding landscaping, which was an eligible project component under the original TE program). It is also important to note Corona recently completed the hardscape median on Magnolia Avenue between I-15 and El Camino Avenue and the majority of the landscaped median along Magnolia Avenue corridor has been improved by private developers. The city of Corona’s request is consistent with past reprogramming requests from other local agencies in that the city has made every effort to implement the original project and are requesting to reprogram funds to another qualified project that can obligate the funds in a timely manner. The STP funds do not pass through the Commission; therefore, there is no direct financial impact. Attachments: 1) City of Corona Request Dated October 19, 2015 2) Project Location Map Agenda Item 13 114 (951) 736-2266 (951) 279-3627 (FAX) Nelson.Nelson@ci.corona.ca.us October 19, 2015 Shirley Medina PUBLIC WORKS DEPARTMENT 400 SOUTH VICENTIA AVENUE, P.O. BOX 940, CORONA, CALIFORNIA 92879-0940 CITY HALL -ON LINE ALL THE TIME (http://www.discovercorona.com) Planning & Programming Director Riverside County Transportation Commission 4080 Lemon Street, 3rd Floor Riverside, CA 92501 Subject: Magnolia Avenue Improvement Project -RPSTPLE-5104(040) Dear Ms. Medina: The scope of work for the above referenced project is within Magnolia Avenue, between Interstate 15 and East Sixth Street, providing raised medians, decorative landscaping, irrigation, pedestrian scale trees, and decorative hardscape. The landscape and irrigation costs for this project were initially funded with a Traffic Enhancement Grant (TE) in the amount of $943,000. As City staff worked with Caltrans Local Assistance on the environmental clearance and obligation of the funds, progress on the project was stalled. At the time that the City was ready to prepare the project for advertising, Caltrans HQ Local Assistance Area Engineer informed staff that the funding source for the project had been changed from TE to Surface Transportation Program (STP), which does not allow landscape and irrigation as qualifying work. As a result, City staff met with RCTC's programming staff to discuss the change in funding and its impact on the proposed project. It was determined that the scope of work and description for the proposed project would have to be revised in order to qualify for STP funding. Therefore, the City is updating the scope of work for this project to incorporate the widening of Magnolia Avenue between Interstate 15 and East Sixth Street, including the widening of the existing two lane bridge over the Temescal Channel. Currently, Magnolia Avenue has three lanes in each direction between Interstate 15 and El Camino Avenue; after which the street narrows to two lanes from El Camino Avenue to approximately one thousand feet east of All American Way. The revised scope of work also includes the construction of missing sidewalk, bike lane, and ADA compliant ramps for the safety of pedestrians that are currently walking on the edge of the road adjacent to vehicles crossing the channel. To accurately reflect the revised scope of work, the ATTACHMENT 1 115 Shirley Medina, RCTC Page 2 description of the project has been changed from "Magnolia Avenue Landscaped Median Project" to "Magnolia Avenue Improvement Project." The City of Corona is requesting support and acceptance of these modifications, and the allocation of STP funds for preliminary engineering (PE), which includes location and environmental studies, NEPA approval, final design (Plans, Specifications and Estimate [PS&E]), and right-of-way acquisition. If you have any questions or would like to discuss this request further, please contact me at (951) 817-5765 or the Project Manager, Linda Bazmi at (951) 739-4960. Sincerely, Nelson D. Nelson, P.E. Public Works Director 116 ATTACHMENT 2117 AGENDA ITEM 14 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: February 22, 2016 TO: Budget and Implementation Committee FROM: Sheldon Peterson, Rail Manager Brenda Ramirez, Management Analyst THROUGH: Robert Yates, Multimodal Services Director SUBJECT: Commuter Rail Grant Resolutions STAFF RECOMMENDATION: This item is for the Committee to: 1)Adopt Resolution No. 16-002, “Resolution of the Riverside County Transportation Commission Regarding Authorization for the Execution of the Certifications and Assurances and Authorized Agent Forms for the Low Carbon Transit Operation Program”; 2)Adopt Resolution No. 16-003, “Resolution of the Riverside County Transportation Commission Regarding Authorization for the Execution of the Low Carbon Transit Operations Program Project: Perris valley line Station Passenger Upgrades in the Amount of $391,049”; 3)Adopt Resolution No. 16-005, “Resolution of the Riverside County Transportation Commission Approving the Allocation of FY 15/16 Proposition 1B-6861-0002 California Transit Security Grant Program-California Transit Assistance Funds to the RCTC Commuter Rail Program and Designation of Authorized Agent”; and 4)Forward to the Commission for final action. BACKGROUND INFORMATION: The Commission’s Commuter Rail Program applies for various federal and state funds that are necessary to fund rail projects within Riverside County. There is also the need for grants to meet the Commission’s annual funding responsibility related to passenger amenities and security surveillance upgrades. Grant funding opportunities are available through the California Department of Transportation Low Carbon Transit Operations Program (LCTOP) and the California Governor’s Office of Emergency Services California Transit Security Grant Program- California Transit Assistance Funds (CTSGP-CTAF). •Funding in the amount of $391,049 in LCTOP funds is available for Perris Valley Line station passenger upgrades to support active transportation by adding covered benches, bike covers/lockers, and energy efficient lighting; and Agenda Item 14 118 • Funding in the amount of $355,763 in CTSGP-CTAF funds will be used to upgrade the video surveillance systems at the Commission’s existing commuter rail stations. The Commission is a leading example of effective station security in the Metrolink network, which is plagued with ticket machine vandalism and thefts across some of the other counties. Both grant funding agencies require resolutions from the Commission authorizing an individual to act on behalf of the Commission regarding the submittal or filing of the state grant funding requests in order to obtain the capital funds for rail projects. Staff recommends approval of Resolution Nos. 16-002 and 16-003 related to the LCTOP grant and Resolution No. 16-005 related to the CTSGP-CTAF grant in order to successfully complete the grant submittal process for each grant, including the authorization for the Executive Director to act on behalf of the Commission. Funding received from these two grants will be included in the FY 2016/17 budget and will be reflected in Commission’s Commuter Rail Short Range Transit Plan. Financial Information In Fiscal Year Budget: N/A Year: FY 2016/17 Amount: $ 746,812 Source of Funds: LCTOP and Proposition 1B CTSCP-CTAF Budget Adjustment: N/A GL/Project Accounting No.: 004011 415 41510 0000 265 33 41501 $391,049 004012 415 41507 0000 265 33 41501 $355,763 Fiscal Procedures Approved: Date: 02/16/2016 Attachments: 1) Resolution No. 16-002 2) Resolution No. 16-003 3) Resolution No. 16-005 Agenda Item 14 119 RESOLUTION NO. 16-002 RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION REGARDING AUTHORIZATION FOR THE EXECUTION OF THE CERTIFICATIONS AND ASSURANCES AND AUTHORIZED AGENT FORMS FOR THE LOW CARBON TRANSIT OPERATIONS PROGRAM WHEREAS, the Riverside County Transportation Commission is an eligible project sponsor and may receive state funding from the Low Carbon Transit Operations Program (LCTOP) for transit projects; and WHEREAS, the statutes related to state-funded transit projects require a local or regional implementing agency to abide by various regulations; and WHEREAS, Senate Bill 862 (2014) named the California Department of Transportation (Department) as the administrative agency for the LCTOP; and WHEREAS, the Department has developed guidelines for the purpose of administering and distributing LCTOP funds to eligible project sponsors (local agencies); and WHEREAS, the Riverside County Transportation Commission wishes to delegate authorization to execute these documents and any amendments thereto to Anne Mayer, Executive Director. NOW, THEREFORE, BE IT RESOLVED by the Governing Body of Commission of the Riverside County Transportation Commission that the fund recipient agrees to comply with all conditions and requirements set forth in the Certification and Assurances and the Authorized Agent documents and applicable statutes, regulations and guidelines for all LCTOP funded transit projects. NOW THEREFORE, BE IT FURTHER RESOLVED that Anne Mayer, Executive Director, be authorized to execute all required documents of the LCTOP program and any Amendments thereto with the California Department of Transportation. APPROVED AND ADOPTED this 9th day of March 2016. __________________________________ Scott Matas, Chair Riverside County Transportation Commission ATTEST: ________________________________ Jennifer Harmon, Clerk of the Board Riverside County Transportation Commission ATTACHMENT 1 120 RESOLUTION NO. 16-003 RESOLUTION OF THE RIVERSIDE COUNTY TRANPORTATION COMMISSION REGARDING AUTHORIZATION FOR THE EXECUTION OF THE LOW CARBON TRANSIT OPERATIONS PROGRAM PROJECT: PERRIS VALLEY LINE STATION PASSENGER UPGRADES IN THE AMOUNT OF $391,049 WHEREAS, the Riverside County Transportation Commission is an eligible project sponsor and may receive state funding from the Low Carbon Transit Operations Program (LCTOP) now or sometime in the future for transit projects; and WHEREAS, the statutes related to state-funded transit projects require a local or regional implementing agency to abide by various regulations; and WHEREAS, Senate Bill 862 (2014) named the California Department of Transportation (Department) as the administrative agency for the LCTOP; and WHEREAS, the Department has developed guidelines for the purpose of administering and distributing LCTOP funds to eligible project sponsors (local agencies); and WHEREAS, the Riverside County Transportation Commission wishes to implement the LCTOP project listed above, NOW, THEREFORE, BE IT RESOLVED by the Governing Body of the Riverside County Transportation Commission that the fund recipient agrees to comply with all conditions and requirements set forth in the applicable statutes, regulations and guidelines for all LCTOP funded transit projects. NOW, THEREFORE, BE IT RESOLVED by the Governing Body of the Riverside County Transportation Commission that it hereby authorizes the submittal of the following project nomination and allocation request to the Department in FY 2015-16 LCTOP funds: Project Name: PVL Station Passenger Upgrades Amount of LCTOP funds requested: $391,049 Short description of project: Upgrade Perris Valley Line Stations to support active transportation and encourage ridership. The project will include covered benches, bike covers/lockers and energy efficient lighting. APPROVED AND ADOPTED this 9th day of March 2016. ________________________________ Scott Matas, Chair Riverside County Transportation Commission ATTEST: _______________________________ Jennifer Harmon, Clerk of the Board Riverside County Transportation Commission ATTACHMENT 2 121 RESOLUTION NO. 16-005 RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION APPROVING THE ALLOCATION OF FY 15-16 PROPOSITION 1B-6861-0002 CALIFORNIA TRANSIT SECURITY GRANT PROGRAM-CALIFORNIA TRANSIT ASSISTANCE FUNDS TO THE RCTC COMMUTER RAIL PROGRAM AND DESIGNATION OF AUTHORIZED AGENT WHEREAS, the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006 authorizes the issuance of general obligation bonds for specified purposes, including, but not limited to, funding made available for capital projects that provide increased protection against security and safety threats, and for capital expenditures to increase the capacity of transit operators to develop disaster response transportation systems; and WHEREAS, the California Governor’s Office of Emergency Services (Cal OES) administers such funds deposited in the Transit System Safety, Security, and Disaster Response Account under the California Transit Security Grant Program (CTSGP); and WHEREAS, the Riverside County Transportation Commission is eligible to receive CTSGP funds; and WHEREAS, the Riverside County Transportation Commission will apply for FY 2015-16 CTSGP funds in an amount up to $355,763 for the Video Surveillance System Upgrade project at current rail stations which supports the purpose of the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006; and WHEREAS, the Riverside County Transportation Commission recognizes that it is responsible for compliance with all Cal OES CTSGP grant assurances and state and federal laws, including, but not limited to, laws governing the use of bond funds; and WHEREAS, Cal OES requires the Riverside County Transportation Commission to complete and submit a Governing Body Resolution for the purposes of identifying agent(s) authorized to act on behalf of the Riverside County Transportation Commission to execute actions necessary to obtain CTSGP funds from Cal OES and ensure continued compliance with Cal OES CTSGP assurances and state and federal laws. THEREFORE, IT IS HEREBY RESOLVED BY THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION that Anne Mayer, Executive Director, and/or her designee, is hereby authorized to execute for and on behalf of the Riverside County Transportation Commission, a public entity established under the laws of the State of California, any actions necessary for the purpose of obtaining financial assistance provided by the California Governor’s Office of Emergency Services under the CTSGP. ATTACHMENT 3 122 APPROVED AND ADOPTED this 9th day of March 2016. __________________________________ Scott Matas, Chair Riverside County Transportation Commission ATTEST: ________________________________ Jennifer Harmon, Clerk of the Board Riverside County Transportation Commission 123