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CC 2016-09-27 Supplemental Information No 1 Item 9b MEMORANDUM TO: CITY COUNCIL FROM: DEBBIE MALICOAT, DIRECTOR OF ADMINISTRATIVE SERVICES SUBJECT: SUPPLEMENTAL INFORMATION AGENDA ITEM 9 b. – SEPTEMBER 27, 2016 CITY COUNCIL MEETING CONSIDERATION OF INVESTMENT DEPOSITS DATE: September 27, 2016 It has come to Staff ’s attention that the Portfolio Summary originally provided as for July 31, 2016 (Item 9.b.-Page 4) incorrectly calculates the Total Certificates of Deposit. During July, the City purchased four Certificates of Deposit fo r $248,000 each. They are listed correctly on the Portfolio Summary; however the total of $2,089,996.91 is incorrect. The correct total, as reflected in the attached document, is $3,081,996.91. The City’s total investments at the end of July were $18,576,789.34. Staff regrets the error and apologizes for the mistake. ATTACHMENT 1 City of Arroyo Grande 300 E. Branch St. Arroyo Grande, CA 93420 Phone: (805) 473-5400 CITY OF ARROYO GRANDE Portfolio Management Portfolio Summary July 31, 2016 Investments Book Value Interest Rate Interest Rate PY Date of Purchase Term Maturity Date % of Portfolio Local Agency Investment Fund 6,153,547.37$ 0.576%0.299%33.125% Certificates of Deposit Heritage Oaks Bank 100,996.91 0.500%November 21, 2014 13 mos December 21, 2015 0.544% Redding Bank of Commerce 250,000.00 1.300%March 22, 2015 36 mos March 22, 2018 1.346% Compass Bank 245,000.00 1.150%May 6, 2015 36 mos May 7, 2018 1.319% Silvergate Bank 249,000.00 1.050%June 17, 2016 36 mos June 18, 2018 1.340% Mission Community Bank 1,000,000.00 0.800%July 3, 2015 36 mos July 3, 2018 5.383% BMW Bank 245,000.00 2.000%August 30, 2013 60 mos August 30, 2018 1.319% Ally Bank 248,000.00 1.050%July 7, 2016 36 mos July 8, 2019 1.335% Capital One Bank USA 248,000.00 1.000%July 7, 2016 36 mos July 8, 2019 1.335% Discover Bank 248,000.00 1.100%July 7, 2016 36 mos July 8, 2019 1.335% JP Morgan Chase Bank 248,000.00 1.100%July 15, 2016 36 mos July 15, 2019 1.335% Total Certificates of Deposit 3,081,996.91 11.251% Agency Bonds FICO Strip Principal 2,496,606.72 0.840%*January 15, 2015 360 mos November 30, 2017 13.439% Federal National Mortgage Assn 2,423,035.90 1.060%September 17, 2014 66 mos April 30, 2018 13.043% Federal National Mortgage Assn 1,965,062.00 1.250%February 14, 2014 60 mos January 30, 2019 10.578% FICO Strip Coupon 954,201.94 1.480%*May 6, 2015 360 mos September 26, 2019 5.137% Federal Home Loan Bank 1,502,338.50 1.200%July 13, 2016 48 mos July 13, 2020 8.087% Total Agency Bonds 9,341,245.06 50.284% TOTAL INVESTMENTS 18,576,789.34$ 100.000% * Effective Interest Rate