addendum to contract documents · over $100,000,000 4 (.04%) basis points annually based on the...
TRANSCRIPT
THE SCHOOL DISTRICT OF LEE COUNTY
DEPARTMENT OF PROCUREMENT SERVICES Carolyn M. Noble, Procurement Agent
2855 COLONIAL BLVD. FORT MYERS, FLORIDA 33966-1012 PHONE (239) 337-8124 FAX (239) 337-8200 [email protected]
ADDENDUM TO CONTRACT DOCUMENTS ADDENDUM NO.: 1 PROJECT NAME: RFP No. R167283CN – Investment Advisory Services DATE OF ISSUE: October 6, 2016 The following information shall be included in the bid documents and is hereby made part of the project bid documentation the form of clarification, addition or revision to the contract specifications. Q1: On page 11, item 1 you define the three categories that are to be invested. Could you provide an
average size of each for the three categories? We understand that in total they range between $100 and $150 million, but it would be helpful to know the average size of each.
A1: a. Approximately $15 million b. Approximately $35 million depending on whether we issue a TAN.
c. Approximately $100 million
Q2: Who is the District’s current and/or past investment advisor? A2: Davidson Fixed Income Management, Inc.
Q3: Who is currently managing the investment pool and at what fee schedule? A3: See answers 2 and 11.
Q4: What services have been provided to the District? A4: The same scope of services described in the RFP have been provided by the current vendor. Q5: Please provide current investment holdings and performance reports? A5: See Addendum 1, Exhibit 1, Account Summary Presentation (Quarterly Investment Report), June
30, 2016 and Addendum 1, Exhibit 2, Account Monthly Report (Investment Details), August 31, 2016.
Q6: Please provide a copy of the June 30, 2016 Quarterly Performance Report. A6: See answer 5.
Q7: Please provide a copy of the most current month’s portfolio holdings. A7: See answer 5.
Q8: How much money is currently invested in the 1‐3 year pool? A8: See answer 5.
Q9: Please clarify the following:
a. Attachment A. There are two #5’s. The first #5, asks for a fee schedule for proposed products in our Form ADV. The fee for managing the School District’s separately managed account will be answered in #1. What is the purpose of the first #5 question?
A9: The purpose of this question is to ensure we have asked for, and your proposal has listed, all fees
related to services we have requested in the RFP. The second question five refers to fees associated with any other services you may be proposing. We want to ensure the proposals list any and all fees that could be charged.
Q10: Are the audited financials submitted kept private or are they available to the public? A10: Audited Financials are not subject to public inspection in accordance with Chapter 119.071, F.S. Q11: What fees are you currently paying for investment advisory services? A11: The original RFP for Investment Advisory Services was awarded in 2013. At that time the award
fee structure was as follows, based on the District’s estimated funds of up to $400 million for investing in 2013:
Monthly Average Assets Fee $0 to $50,000,000 6 (.06%) basis points annually $50,000,001 to $100,000,000 5 (.05%) basis points annually Over $100,000,000 4 (.04%) basis points annually Based on the District’s anticipated investment portfolio of $400 million, the annual fee would be: First $50 million @ .06% $30,000 Next $50 million @ 0.05% $25,000 Next $300 million @ 0.04% $120,000 Total Annual Fee $175,000 Average Annual Fee .043%
Q12: Is the District looking for a consultant to make recommendations on the proper investment
products it should utilize or an investment advisor to manage a portfolio of assets on a non‐discretionary basis?
A12: The District is seeking a registered investment advisor to manage our portfolio of assets where the
securities are held in trust in the District’s name.
Q13: On page 13 under item 10 Proposal Submittals the RFP states that the “Attachments shall be completed in a usable Word or Excel format”. However the RFP documents, including attachments, were provided in PDF. If needed in Word or Excel, could the District provide the attachments in that format for completion?
A13: Attachment A is to be completed in Excel format and is provided on the website in Excel Format.
Should any other documents be required in the format in which they were produced, they will be available on the website.
Q14: Will the School required “most favored nation’s” treatment for the fee proposal? A14: The specifications do not require such. Although, proposers are encouraged to offer their fee that
is most favorable to the District. Change: On page 32, Attachment A, Proposal Response Form, there is a typo. The chart is numbered from three to five, please renumber; three, four, five. There are no other changes at this time. Please acknowledge this addendum via Attachment D, Addenda Acknowledgement Form.
Thank you for your interest in the School District of Lee County.
Carolyn M. Noble Procurement Agent
Quarterly Investment Report June 30, 2016
Glenn Scott, Senior Vice President & Portfolio Manager Nicholas Yip, Vice President & Fixed Income Analyst
THE SCHOOL DISTRICT OF LEE COUNTY
Cash Portfolio Sector Allocation (as of 6/30/2016)
THE SCHOOL DISTRICT OF LEE COUNTY
SBA$171,801,730.80
57%
FLCLASS$10,009,511.40
3%
FEITF$10,005,938.38
3%
First American MMF
$103.46 0%
Florida Community
Bank$60,449,718.22
20%
SunTrust Bank$20,427,589.71
7%
US Bank$31,195,527.23
10%
Current Month Earnings 148,841.94$ Apr 1 - June 30, 2016 Earnings 484,536.46$
Earnings Year to Date 978,089.98$ Earnings Year over Year (July 1, 2015 - June 30, 2016) 2,156,252.67$ July 1, 2014 - June 30, 2016 Earnings 2,713,323.79$ Book Value (yield) (6/30/16) 0.52%
(weighted average yield for all cash)Benchmark: Florida Prime Fund 0.60%
SunTrust Bank Balance 20,427,589.71$ USBank Balance 31,195,527.23$
Cash Investment Portfolio 252,267,002.26$ Total Cash Portfolio 303,890,119.20$
Long Term Core Portfolio Sector Allocation (as of 6/30/2016)
THE SCHOOL DISTRICT OF LEE COUNTY
Agencies$49,982,285.67
49%
Municipals$5,365,056.97
5%US Treasury
Notes$22,968,049.42
23%
Corporate Notes$18,172,781.30
18%
Fidelity Prime MMkt
$5,465,374.65 5%
Current Month Earnings 105,097.16$ Apr 1 - June 30, 2016 Earnings 323,577.86$ Earnings Year to Date 637,763.49$ Earnings Year over Year (July 1, 2015 - June 30, 2016) 1,238,723.86$ July 1, 2014 - June 30, 2016 Earnings 2,153,862.40$ Book Value Quarterly Yield, as of June 30, 2016 1.28% Portfolio Total Return, Apr 1, 2016 - June, 2016 2.48% Portfolio Total Return, Dec 31, 2015 - June 30, 2016 3.48% Benchmark ML 1-5 Yr Treasury (qtr) 3.23% (Returns are annualized gross of fees) Total Portfolio 101,953,548.01$
The District School Board of Lee CountyInvestment Details
August 31, 2016
Trade Original Market Coupon Next Call Maturity Pct
Cusip Security Description Date Par Value Cost Value Book Value Rate YTM/C DTM/C Date Date Assets
Cash and Equiv.FIDPRIME690 FIDELITY INST PRIME 690 146,721.84 146,721.84 146,721.84 0.010 0.010 0.14
US Treasury Notes912828UA6 UNITED STATES TREAS NTS 04-01-14 6,000,000.00 5,864,531.25 5,992,032.00 5,953,838.76 0.625 1.258 454 11-30-17 5.82
912828UZ1 UNITED STATES TREAS NTS 03-21-14 5,000,000.00 4,840,625.00 4,987,305.00 4,935,358.97 0.625 1.428 607 04-30-18 4.84
912828RE2 UNITED STATES TREAS NTS 03-28-14 5,000,000.00 4,990,820.30 5,067,385.00 4,995,848.37 1.500 1.543 730 08-31-18 4.92
912828WC0 UNITED STATES TREAS NTS 04-19-16 4,000,000.00 4,093,125.00 4,099,532.00 4,085,633.51 1.750 1.220 1,520 10-31-20 3.98
912828N89 UNITED STATES TREAS NTS 04-27-16 3,000,000.00 3,007,382.81 3,027,186.00 3,006,851.43 1.375 1.321 1,612 01-31-21 2.94
23,000,000.00 22,796,484.36 23,173,440.00 22,977,531.05 1.113 1.358 887 22.50
Agencies3130A2T97 FEDERAL HOME LOAN BANKS 08-06-14 3,000,000.00 2,993,250.00 3,000,411.00 2,999,762.56 0.500 0.606 28 09-28-16 2.91
3130A2T97 FEDERAL HOME LOAN BANKS 09-09-14 2,000,000.00 1,994,174.00 2,000,274.00 1,999,784.67 0.500 0.643 28 09-28-16 1.94
3135G0ZB2 FEDERAL NATL MTG ASSN 09-04-14 5,000,000.00 4,974,500.00 5,004,945.00 4,993,805.75 0.750 0.947 232 04-20-17 4.86
3134G43Y2 FEDERAL HOME LN MTG CORP 02-11-15 3,000,000.00 2,986,500.00 3,001,581.00 2,995,839.72 0.700 0.903 251 05-08-17 2.91
313379FW4 FEDERAL HOME LOAN BANKS 07-10-15 4,500,000.00 4,521,532.50 4,511,479.50 4,508,719.65 1.000 0.747 282 06-09-17 4.38
3137EADJ5 FEDERAL HOME LN MTG CORP 09-12-14 4,000,000.00 3,989,560.00 4,011,680.00 3,996,690.45 1.000 1.093 332 07-28-17 3.90
3133EDVU3 FEDERAL FARM CR BKS 02-11-16 2,000,000.00 2,011,980.00 2,006,578.00 2,007,894.10 1.125 0.750 387 09-22-17 1.95
3135G0RT2 FEDERAL NATL MTG ASSN 09-24-14 3,500,000.00 3,455,025.00 3,503,829.00 3,481,867.68 0.875 1.282 475 12-20-17 3.40
3137EADN6 FEDERAL HOME LN MTG CORP 02-18-15 5,000,000.00 4,944,800.00 4,994,720.00 4,973,945.41 0.750 1.138 497 01-12-18 4.85
3135G0G72 FEDERAL NATL MTG ASSN / FNMA 11-10-15 3,000,000.00 2,981,370.00 3,011,673.00 2,986,198.61 1.125 1.331 834 12-14-18 2.92
3135G0J53 FEDERAL NATL MTG ASSN 04-14-16 3,000,000.00 3,001,500.00 3,001,914.00 3,001,301.91 1.000 0.982 907 02-26-19 2.91
3137EADG1 FEDERAL HOME LN MTG CORP 02-11-15 5,000,000.00 5,047,050.00 5,106,150.00 5,030,092.72 1.750 1.523 1,003 05-30-19 4.96
3137EAEB1 FEDERAL HOME LN MTG CORP 07-19-16 3,000,000.00 2,992,740.00 2,985,168.00 2,993,018.72 0.875 0.957 1,053 07-19-19 2.90
3135G0A78 FNMA AGENCY 05-27-15 7,000,000.00 7,015,890.00 7,124,586.00 7,011,581.39 1.625 1.574 1,237 01-21-20 6.92
313383HU8 FEDERAL HOME LOAN BANKS 08-12-16 2,500,000.00 2,563,200.00 2,551,832.50 2,562,475.76 1.750 1.074 1,381 06-12-20 2.48
55,500,000.00 55,473,071.50 55,816,821.00 55,542,979.11 1.074 1.102 635 54.20
Municipals88213AEE1 TEXAS A&M UNIVERSITY 03-23-16 1,000,000.00 1,000,000.00 1,008,990.00 1,000,000.00 1.445 1.445 988 05-15-19 0.98
45462TED0 INDIANA BD BK REV REF-TAXABLE 08-21-15 1,355,000.00 1,355,000.00 1,376,219.30 1,355,000.00 2.050 2.050 1,049 07-15-19 1.34
57582RAP1 MASSACHUSETTS ST 03-01-16 950,000.00 964,981.50 968,154.50 962,991.38 1.850 1.405 1,156 11-01-19 0.94
605581GL5 MISSISSIPPI ST 11-18-15 1,000,000.00 1,000,000.00 1,018,800.00 1,000,000.00 1.852 1.852 1,156 11-01-19 0.99
917542QT2 UTAH ST TAXABLE - B - BUILD AMER BDS 06-17-15 1,000,000.00 1,058,200.00 1,073,560.00 1,044,401.85 3.289 2.064 1,401 07-01-20 1.04
5,305,000.00 5,378,181.50 5,445,723.80 5,362,393.24 2.110 1.789 1,146 5.29
Corporate Notes48126EAA5 JPMORGAN CHASE & CO 05-16-14 2,000,000.00 2,034,360.00 2,015,764.00 2,010,140.74 2.000 1.454 349 08-15-17 1.96
94974BFG0 WFC / WELLS FARGO & CO 04-17-14 2,000,000.00 1,988,460.00 2,007,828.00 1,995,747.27 1.500 1.660 501 01-16-18 1.95
94974BFG0 WFC / WELLS FARGO & CO 09-09-14 1,000,000.00 995,040.00 1,003,914.00 997,957.80 1.500 1.653 501 01-16-18 0.97
36962G3U6 GE / GEN ELECTRIC CAPITAL 04-22-14 2,000,000.00 2,286,200.00 2,150,006.00 2,118,796.01 5.625 1.907 609 05-01-18 2.09
36962G3U6 GE / GEN ELECTRIC CAPITAL 09-26-14 1,000,000.00 1,128,730.00 1,075,003.00 1,059,923.50 5.625 1.892 609 05-01-18 1.04
1
The District School Board of Lee CountyInvestment Details
August 31, 2016
Trade Original Market Coupon Next Call Maturity Pct
Cusip Security Description Date Par Value Cost Value Book Value Rate YTM/C DTM/C Date Date Assets
037833AJ9 AAPL / APPLE INC 06-19-14 3,000,000.00 2,931,780.00 2,999,499.00 2,970,417.61 1.000 1.610 611 05-03-18 2.91
855244AF6 SBUX / STARBUCKS CORP 08-05-14 3,000,000.00 3,018,390.00 3,053,784.00 3,009,446.25 2.000 1.849 794 11-05-18 12-05-18 2.97
437076BE1 HD/HOME DEPOT INC 06-09-14 1,500,000.00 1,494,255.00 1,533,448.50 1,496,800.73 2.000 2.081 988 05-15-19 06-15-19 1.49
437076BE1 HD/HOME DEPOT INC 06-18-14 1,000,000.00 994,820.00 1,022,299.00 997,097.64 2.000 2.110 988 05-15-19 06-15-19 0.99
740189AL9 PCP / PRECISION CASTPARTS CORP 06-02-15 1,500,000.00 1,499,850.00 1,539,268.50 1,499,886.64 2.250 2.252 1,354 05-15-20 06-15-20 1.49
18,000,000.00 18,371,885.00 18,400,814.00 18,156,214.19 2.411 1.812 709 17.87
TOTAL PORTFOLIO 101,805,000.00 102,166,344.20 102,983,520.64 102,185,839.42 1.375 1.322 731 100.00
2
The District School Board of Lee CountyTRANSACTION SUMMARY - SETTLED TRADES
From 08-01-16 To 08-31-16
Security Current Maturity Tran Trade Settle Trade
Symbol Security Rate Date Code Date Date Quantity Amount
Buy313383HU8 FEDERAL HOME LOAN BANKS 1.750 06-12-2020 by 08-12-16 08-15-16 2,500,000.00 2,563,200.00
Total 2,563,200.00
InterestFIDPRIME690 FIDELITY INST PRIME 690 0.010 in 08-01-16 08-01-16 124.86
FIDPRIME690 FIDELITY INST PRIME 690 0.010 in 08-01-16 08-01-16 1,367.34
48126EAA5 JPMORGAN CHASE & CO 2.000 08-15-2017 in 08-15-16 08-15-16 20,000.00
3135G0J53 FEDERAL NATL MTG ASSN 1.000 02-26-2019 in 08-26-16 08-26-16 15,000.00
912828RE2 UNITED STATES TREAS NTS 1.500 08-31-2018 in 08-31-16 08-31-16 37,500.00
Total 73,992.20
Accrued Interest (Purchased Fixed-Income)313383HU8 FEDERAL HOME LOAN BANKS 1.750 06-12-2020 pa 08-12-16 08-15-16 7,656.25
Total 7,656.25
3
Davidson Fixed Income Management, Inc.REALIZED GAINS AND LOSSES - SETTLED TRADES
The District School Board of Lee CountyFrom 08-01-2016 Through 08-31-2016
Gain or Loss
Open Close Cost Amort. or
Date Date Quantity Symbol Security Basis Accretion Proceeds Short Term Long Term
TOTAL GAINS 0.00 0.00
TOTAL LOSSES 0.00 0.00
0.00 0.00 0.00 0.00 0.00
TOTAL REALIZED GAIN/LOSS 0.00
4
Davidson Fixed Income Management, Inc.EARNED INCOME REPORT
The District School Board of Lee CountyFrom 07-31-16 To 08-31-16
Beginning Ending
Security Accrued Purchased Sold Interest Accrued Earned Amortization/ Earned
Symbol Description Interest Interest Interest Received Interest Interest Accretion Income
AGENCY BONDS (USD)3130A2T97 FEDERAL HOME LOAN BANKS 8,541.67 0.00 0.00 0.00 10,625.00 2,083.33 504.75 2,588.08
0.500% Due 09-28-16
3135G0ZB2 FEDERAL NATL MTG ASSN 10,520.83 0.00 0.00 0.00 13,645.83 3,125.00 823.22 3,948.22
0.750% Due 04-20-17
3134G43Y2 FEDERAL HOME LN MTG CORP 4,841.67 0.00 0.00 0.00 6,591.67 1,750.00 510.64 2,260.64
0.700% Due 05-08-17
313379FW4 FEDERAL HOME LOAN BANKS 6,500.00 0.00 0.00 0.00 10,250.00 3,750.00 -958.54 2,791.46
1.000% Due 06-09-17
3137EADJ5 FEDERAL HOME LN MTG CORP 333.33 0.00 0.00 0.00 3,666.67 3,333.33 308.29 3,641.62
1.000% Due 07-28-17
3133EDVU3 FEDERAL FARM CR BKS 8,062.50 0.00 0.00 0.00 9,937.50 1,875.00 -630.16 1,244.84
1.125% Due 09-22-17
3135G0RT2 FEDERAL NATL MTG ASSN 3,487.85 0.00 0.00 0.00 6,039.93 2,552.08 1,176.98 3,729.06
0.875% Due 12-20-17
3137EADN6 FEDERAL HOME LN MTG CORP 1,979.17 0.00 0.00 0.00 5,104.17 3,125.00 1,613.41 4,738.41
0.750% Due 01-12-18
3135G0G72 FEDERAL NATL MTG ASSN /
FNMA
4,406.25 0.00 0.00 0.00 7,218.75 2,812.50 510.88 3,323.38
1.125% Due 12-14-18
3135G0J53 FEDERAL NATL MTG ASSN 12,916.67 0.00 0.00 -15,000.00 416.67 2,500.00 -44.50 2,455.50
1.000% Due 02-26-19
3137EADG1 FEDERAL HOME LN MTG CORP 14,583.33 0.00 0.00 0.00 21,875.00 7,291.67 -927.12 6,364.55
1.750% Due 05-30-19
3137EAEB1 FEDERAL HOME LN MTG CORP 802.08 0.00 0.00 0.00 2,989.58 2,187.50 205.72 2,393.22
0.875% Due 07-19-19
3135G0A78 FNMA AGENCY 3,159.72 0.00 0.00 0.00 12,638.89 9,479.17 -290.36 9,188.80
1.625% Due 01-21-20
313383HU8 FEDERAL HOME LOAN BANKS 0.00 7,656.25 0.00 0.00 9,600.69 1,944.44 -724.24 1,220.20
1.750% Due 06-12-20
80,135.07 7,656.25 0.00 -15,000.00 120,600.35 47,809.03 2,078.95 49,887.98
US TREASURY NOTES (USD)912828UA6 UNITED STATES TREAS NTS 6,250.00 0.00 0.00 0.00 9,426.23 3,176.23 3,142.49 6,318.72
0.625% Due 11-30-17
912828UZ1 UNITED STATES TREAS NTS 7,812.50 0.00 0.00 0.00 10,444.97 2,632.47 3,299.72 5,932.20
0.625% Due 04-30-18
912828RE2 UNITED STATES TREAS NTS 31,182.07 0.00 0.00 -37,500.00 0.00 6,317.93 176.52 6,494.46
1.500% Due 08-31-18
5
Davidson Fixed Income Management, Inc.EARNED INCOME REPORT
The District School Board of Lee CountyFrom 07-31-16 To 08-31-16
Beginning Ending
Security Accrued Purchased Sold Interest Accrued Earned Amortization/ Earned
Symbol Description Interest Interest Interest Received Interest Interest Accretion Income
912828WC0 UNITED STATES TREAS NTS 17,500.00 0.00 0.00 0.00 23,396.74 5,896.74 -1,746.14 4,150.60
1.750% Due 10-31-20
912828N89 UNITED STATES TREAS NTS 0.00 0.00 0.00 0.00 3,474.86 3,474.86 -131.78 3,343.08
1.375% Due 01-31-21
62,744.57 0.00 0.00 -37,500.00 46,742.81 21,498.24 4,740.82 26,239.06
CORPORATE BONDS (USD)48126EAA5 JPMORGAN CHASE & CO 18,444.44 0.00 0.00 -20,000.00 1,777.78 3,333.33 -902.40 2,430.93
2.000% Due 08-15-17
94974BFG0 WFC / WELLS FARGO & CO 1,875.00 0.00 0.00 0.00 5,625.00 3,750.00 388.31 4,138.31
1.500% Due 01-16-18
36962G3U6 GE / GEN ELECTRIC CAPITAL 42,187.50 0.00 0.00 0.00 56,250.00 14,062.50 -9,091.19 4,971.31
5.625% Due 05-01-18
037833AJ9 AAPL / APPLE INC 7,333.33 0.00 0.00 0.00 9,833.33 2,500.00 1,500.96 4,000.96
1.000% Due 05-03-18
855244AF6 SBUX / STARBUCKS CORP 9,333.33 0.00 0.00 0.00 14,333.33 5,000.00 -367.94 4,632.06
2.000% Due 12-05-18
437076BE1 HD/HOME DEPOT INC 6,388.89 0.00 0.00 0.00 10,555.56 4,166.67 185.80 4,352.46
2.000% Due 06-15-19
740189AL9 PCP / PRECISION CASTPARTS
CORP
4,312.50 0.00 0.00 0.00 7,125.00 2,812.50 2.54 2,815.04
2.250% Due 06-15-20
89,875.00 0.00 0.00 -20,000.00 105,500.00 35,625.00 -8,283.93 27,341.07
MUNICIPAL BONDS (USD)88213AEE1 TEXAS A&M UNIVERSITY 3,050.56 0.00 0.00 0.00 4,254.72 1,204.17 0.00 1,204.17
1.445% Due 05-15-19
45462TED0 INDIANA BD BK REV
REF-TAXABLE
1,234.56 0.00 0.00 0.00 3,549.35 2,314.79 0.00 2,314.79
2.050% Due 07-15-19
57582RAP1 MASSACHUSETTS ST 4,393.75 0.00 0.00 0.00 5,858.33 1,464.58 -348.55 1,116.03
1.850% Due 11-01-19
605581GL5 MISSISSIPPI ST 4,630.00 0.00 0.00 0.00 6,173.33 1,543.33 0.00 1,543.33
1.852% Due 11-01-19
917542QT2 UTAH ST TAXABLE - B - BUILD
AMER BDS
2,740.83 0.00 0.00 0.00 5,481.67 2,740.83 -983.32 1,757.52
3.289% Due 07-01-20
16,049.69 0.00 0.00 0.00 25,317.40 9,267.71 -1,331.87 7,935.84
6
Davidson Fixed Income Management, Inc.EARNED INCOME REPORT
The District School Board of Lee CountyFrom 07-31-16 To 08-31-16
Beginning Ending
Security Accrued Purchased Sold Interest Accrued Earned Amortization/ Earned
Symbol Description Interest Interest Interest Received Interest Interest Accretion Income
CASH AND EQUIVALENTS (USD)FIDPRIME690 FIDELITY INST PRIME 690 0.00 0.00 0.00 -1,492.20 0.00 1,492.20 0.00 1,492.20
0.00 0.00 0.00 -1,492.20 0.00 1,492.20 0.00 1,492.20
TOTAL PORTFOLIO 248,804.33 7,656.25 0.00 -73,992.20 298,160.56 115,692.18 -2,796.03 112,896.14
7
The District School Board of Lee CountyInterest Earnings
From 07-31-16 To 08-31-16
Yield on Average Book Value
Adjusted Interest Earnings
Beginning Average Maturity Current Annualized Interest Amortization/ Adjusted Interest
CUSIP Description Book Value Book Value Date Rate Yield Earned Accretion Amount Earning
037833AJ9 AAPL / APPLE INC 1.000% Due 05-03-18 2,968,916.65 2,986,574.64 05-03-18 1.000 1.53 2,500.00 1,500.96 4,000.96
3133EDVU3 FEDERAL FARM CR BKS 1.125% Due 09-22-17 2,008,524.26 2,005,586.36 09-22-17 1.125 0.71 1,875.00 -630.16 1,244.84
3134G43Y2 FEDERAL HOME LN MTG CORP 0.700% Due 05-08-17 2,995,329.08 2,998,576.43 05-08-17 0.700 0.86 1,750.00 510.64 2,260.64
3137EADG1 FEDERAL HOME LN MTG CORP 1.750% Due 05-30-19 5,031,019.84 5,019,790.22 05-30-19 1.750 1.45 7,291.67 -927.12 6,364.55
3137EADJ5 FEDERAL HOME LN MTG CORP 1.000% Due 07-28-17 3,996,382.16 3,998,860.80 07-28-17 1.000 1.04 3,333.33 308.29 3,641.62
3137EADN6 FEDERAL HOME LN MTG CORP 0.750% Due 01-12-18 4,972,332.01 4,986,988.99 01-12-18 0.750 1.08 3,125.00 1,613.41 4,738.41
3137EAEB1 FEDERAL HOME LN MTG CORP 0.875% Due 07-19-19 2,992,813.00 2,993,101.79 07-19-19 0.875 0.91 2,187.50 205.72 2,393.22
3130A2T97 FEDERAL HOME LOAN BANKS 0.500% Due 09-28-16 4,999,042.48 4,999,967.02 09-28-16 0.500 0.59 2,083.33 504.75 2,588.08
313379FW4 FEDERAL HOME LOAN BANKS 1.000% Due 06-09-17 4,509,678.20 4,503,896.24 06-09-17 1.000 0.71 3,750.00 -958.54 2,791.46
313383HU8 FEDERAL HOME LOAN BANKS 1.750% Due 06-12-20 0.00 1,361,291.72 06-12-20 1.750 1.02 1,944.44 -724.24 1,220.20
3135G0J53 FEDERAL NATL MTG ASSN 1.000% Due 02-26-19 3,001,346.41 3,001,166.54 02-26-19 1.000 0.93 2,500.00 -44.50 2,455.50
3135G0RT2 FEDERAL NATL MTG ASSN 0.875% Due 12-20-17 3,480,690.71 3,492,246.90 12-20-17 0.875 1.22 2,552.08 1,176.98 3,729.06
3135G0ZB2 FEDERAL NATL MTG ASSN 0.750% Due 04-20-17 4,992,982.53 4,998,309.66 04-20-17 0.750 0.90 3,125.00 823.22 3,948.22
3135G0G72 FEDERAL NATL MTG ASSN / FNMA 1.125% Due
12-14-18
2,985,687.73 2,989,427.43 12-14-18 1.125 1.27 2,812.50 510.88 3,323.38
FIDPRIME690 FIDELITY INST PRIME 690 2,643,585.89 1,293,873.45 0.010 1.32 1,492.20 0.00 1,492.20
3135G0A78 FNMA AGENCY 1.625% Due 01-21-20 7,011,871.76 7,008,638.45 01-21-20 1.625 1.50 9,479.17 -290.36 9,188.80
36962G3U6 GE / GEN ELECTRIC CAPITAL 5.625% Due 05-01-18 3,187,810.70 3,077,657.42 05-01-18 5.625 1.84 14,062.50 -9,091.19 4,971.31
437076BE1 HD/HOME DEPOT INC 2.000% Due 06-15-19 2,493,712.57 2,496,505.84 06-15-19 2.000 1.99 4,166.67 185.80 4,352.46
45462TED0 INDIANA BD BK REV REF-TAXABLE 2.050% Due
07-15-19
1,355,000.00 1,355,000.00 07-15-19 2.050 1.95 2,314.79 0.00 2,314.79
48126EAA5 JPMORGAN CHASE & CO 2.000% Due 08-15-17 2,011,043.14 2,003,248.53 08-15-17 2.000 1.38 3,333.33 -902.40 2,430.93
57582RAP1 MASSACHUSETTS ST 1.850% Due 11-01-19 963,339.93 961,551.28 11-01-19 1.850 1.32 1,464.58 -348.55 1,116.03
605581GL5 MISSISSIPPI ST 1.852% Due 11-01-19 1,000,000.00 1,000,000.00 11-01-19 1.852 1.76 1,543.33 0.00 1,543.33
740189AL9 PCP / PRECISION CASTPARTS CORP 2.250% Due
06-15-20
1,499,884.10 1,499,912.55 06-15-20 2.250 2.14 2,812.50 2.54 2,815.04
855244AF6 SBUX / STARBUCKS CORP 2.000% Due 12-05-18 3,009,814.19 3,005,121.26 12-05-18 2.000 1.76 5,000.00 -367.94 4,632.06
88213AEE1 TEXAS A&M UNIVERSITY 1.445% Due 05-15-19 1,000,000.00 1,000,000.00 05-15-19 1.445 1.37 1,204.17 0.00 1,204.17
912828N89 UNITED STATES TREAS NTS 1.375% Due 01-31-21 3,006,983.21 3,006,473.52 01-31-21 1.375 1.27 3,474.86 -131.78 3,343.08
912828RE2 UNITED STATES TREAS NTS 1.500% Due 08-31-18 4,995,671.85 4,998,046.30 08-31-18 1.500 1.48 6,317.93 176.52 6,494.46
912828UA6 UNITED STATES TREAS NTS 0.625% Due 11-30-17 5,950,696.27 5,983,246.31 11-30-17 0.625 1.20 3,176.23 3,142.49 6,318.72
912828UZ1 UNITED STATES TREAS NTS 0.625% Due 04-30-18 4,932,059.25 4,972,533.63 04-30-18 0.625 1.36 2,632.47 3,299.72 5,932.20
912828WC0 UNITED STATES TREAS NTS 1.750% Due 10-31-20 4,087,379.65 4,080,256.31 10-31-20 1.750 1.16 5,896.74 -1,746.14 4,150.60
917542QT2 UTAH ST TAXABLE - B - BUILD AMER BDS 3.289%
Due 07-01-20
1,045,385.17 1,034,563.88 07-01-20 3.289 1.94 2,740.83 -983.32 1,757.52
94974BFG0 WFC / WELLS FARGO & CO 1.500% Due 01-16-18 2,993,316.76 2,997,542.14 01-16-18 1.500 1.57 3,750.00 388.31 4,138.31
TOTAL 102,122,299.50 102,109,955.60 1.26 115,692.18 -2,796.03 112,896.14
8
The District School Board of Lee CountyGASB 31
GROSS OF FEESFrom 07-31-16 to 08-31-16
Yield on time weighted return value
Beginning Time Weighted Ending
Invested Investment Invested Maturity Current Total
CUSIP Description Value Value Value Date Rate Return
037833AJ9 AAPL / APPLE INC 1.000% Due 05-03-18 3,012,655.33 3,012,655.33 3,009,332.33 05-03-18 1.000 -0.11
3133EDVU3 FEDERAL FARM CR BKS 1.125% Due 09-22-17 2,017,886.50 2,017,886.50 2,016,515.50 09-22-17 1.125 -0.07
3134G43Y2 FEDERAL HOME LN MTG CORP 0.700% Due 05-08-17 3,005,996.67 3,005,996.67 3,008,172.67 05-08-17 0.700 0.07
3137EADG1 FEDERAL HOME LN MTG CORP 1.750% Due 05-30-19 5,139,373.33 5,139,373.33 5,128,025.00 05-30-19 1.750 -0.22
3137EADJ5 FEDERAL HOME LN MTG CORP 1.000% Due 07-28-17 4,014,721.33 4,014,721.33 4,015,346.67 07-28-17 1.000 0.02
3137EADN6 FEDERAL HOME LN MTG CORP 0.750% Due 01-12-18 5,003,829.17 5,003,829.17 4,999,824.17 01-12-18 0.750 -0.08
3137EAEB1 FEDERAL HOME LN MTG CORP 0.875% Due 07-19-19 2,997,379.08 2,997,379.08 2,988,157.58 07-19-19 0.875 -0.31
3130A2T97 FEDERAL HOME LOAN BANKS 0.500% Due 09-28-16 5,009,191.67 5,009,191.67 5,011,310.00 09-28-16 0.500 0.04
313379FW4 FEDERAL HOME LOAN BANKS 1.000% Due 06-09-17 4,519,482.50 4,519,482.50 4,521,729.50 06-09-17 1.000 0.05
313383HU8 FEDERAL HOME LOAN BANKS 1.750% Due 06-12-20 0.00 1,657,876.01 2,561,433.19 06-12-20 1.750 -0.37
3135G0J53 FEDERAL NATL MTG ASSN 1.000% Due 02-26-19 3,024,115.67 3,021,212.44 3,002,330.67 02-26-19 1.000 -0.22
3135G0RT2 FEDERAL NATL MTG ASSN 0.875% Due 12-20-17 3,511,425.85 3,511,425.85 3,509,868.93 12-20-17 0.875 -0.04
3135G0ZB2 FEDERAL NATL MTG ASSN 0.750% Due 04-20-17 5,016,660.83 5,016,660.83 5,018,590.83 04-20-17 0.750 0.04
3135G0G72 FEDERAL NATL MTG ASSN / FNMA 1.125% Due
12-14-18
3,025,433.25 3,025,433.25 3,018,891.75 12-14-18 1.125 -0.22
FIDPRIME690 FIDELITY INST PRIME 690 2,643,585.89 1,000,790.53 146,721.84 0.010 0.06
3135G0A78 FNMA AGENCY 1.625% Due 01-21-20 7,161,996.72 7,161,996.72 7,137,224.89 01-21-20 1.625 -0.35
36962G3U6 GE / GEN ELECTRIC CAPITAL 5.625% Due 05-01-18 3,287,593.50 3,287,593.50 3,281,259.00 05-01-18 5.625 -0.19
437076BE1 HD/HOME DEPOT INC 2.000% Due 06-15-19 2,576,603.89 2,576,603.89 2,566,303.06 06-15-19 2.000 -0.40
45462TED0 INDIANA BD BK REV REF-TAXABLE 2.050% Due
07-15-19
1,383,646.21 1,383,646.21 1,379,768.65 07-15-19 2.050 -0.28
48126EAA5 JPMORGAN CHASE & CO 2.000% Due 08-15-17 2,035,188.44 2,024,220.70 2,017,541.78 08-15-17 2.000 0.12
57582RAP1 MASSACHUSETTS ST 1.850% Due 11-01-19 977,345.75 977,345.75 974,012.83 11-01-19 1.850 -0.34
605581GL5 MISSISSIPPI ST 1.852% Due 11-01-19 1,028,460.00 1,028,460.00 1,024,973.33 11-01-19 1.852 -0.34
740189AL9 PCP / PRECISION CASTPARTS CORP 2.250% Due
06-15-20
1,553,361.00 1,553,361.00 1,546,393.50 06-15-20 2.250 -0.45
855244AF6 SBUX / STARBUCKS CORP 2.000% Due 12-05-18 3,072,594.33 3,072,594.33 3,068,117.33 12-05-18 2.000 -0.15
88213AEE1 TEXAS A&M UNIVERSITY 1.445% Due 05-15-19 1,016,200.56 1,016,200.56 1,013,244.72 05-15-19 1.445 -0.29
912828N89 UNITED STATES TREAS NTS 1.375% Due 01-31-21 3,048,516.00 3,048,516.00 3,030,660.86 01-31-21 1.375 -0.59
912828RE2 UNITED STATES TREAS NTS 1.500% Due 08-31-18 5,115,752.07 5,114,542.39 5,067,385.00 08-31-18 1.500 -0.21
912828UA6 UNITED STATES TREAS NTS 0.625% Due 11-30-17 6,005,548.00 6,005,548.00 6,001,458.23 11-30-17 0.625 -0.07
912828UZ1 UNITED STATES TREAS NTS 0.625% Due 04-30-18 5,004,297.50 5,004,297.50 4,997,749.97 04-30-18 0.625 -0.13
912828WC0 UNITED STATES TREAS NTS 1.750% Due 10-31-20 4,146,092.00 4,146,092.00 4,122,928.74 10-31-20 1.750 -0.56
917542QT2 UTAH ST TAXABLE - B - BUILD AMER BDS 3.289%
Due 07-01-20
1,082,400.83 1,082,400.83 1,079,041.67 07-01-20 3.289 -0.31
94974BFG0 WFC / WELLS FARGO & CO 1.500% Due 01-16-18 3,017,064.00 3,017,064.00 3,017,367.00 01-16-18 1.500 0.01
TOTAL 103,454,397.87 103,454,397.87 103,281,681.20 -0.17
9
The District School Board of Lee CountyGASB 40
August 31, 2016
% of Maturity Duration
Security ID Description Par Value Book Value Market Value S&P Moody Portfolio YTM Date to Worst
3130A2T97 FEDERAL HOME LOAN BANKS 0.500% Due 09-28-16 5,000,000.00 4,999,547.23 5,000,685.00 AA+ Aaa 4.86 0.62 09-28-16 0.08
313379FW4 FEDERAL HOME LOAN BANKS 1.000% Due 06-09-17 4,500,000.00 4,508,719.65 4,511,479.50 AA+ Aaa 4.38 0.75 06-09-17 0.77
313383HU8 FEDERAL HOME LOAN BANKS 1.750% Due 06-12-20 2,500,000.00 2,562,475.76 2,551,832.50 AA+ Aaa 2.48 1.07 06-12-20 3.64
3133EDVU3 FEDERAL FARM CR BKS 1.125% Due 09-22-17 2,000,000.00 2,007,894.10 2,006,578.00 AA+ Aaa 1.95 0.75 09-22-17 1.05
3134G43Y2 FEDERAL HOME LN MTG CORP 0.700% Due 05-08-17 3,000,000.00 2,995,839.72 3,001,581.00 AA+ Aaa 2.91 0.90 05-08-17 0.69
3135G0A78 FNMA AGENCY 1.625% Due 01-21-20 7,000,000.00 7,011,581.39 7,124,586.00 AA+ Aaa 6.92 1.57 01-21-20 3.29
3135G0G72 FEDERAL NATL MTG ASSN / FNMA 1.125% Due
12-14-18
3,000,000.00 2,986,198.61 3,011,673.00 AA+ 2.92 1.33 12-14-18 2.25
3135G0J53 FEDERAL NATL MTG ASSN 1.000% Due 02-26-19 3,000,000.00 3,001,301.91 3,001,914.00 AA+ Aaa 2.91 0.98 02-26-19 2.45
3135G0RT2 FEDERAL NATL MTG ASSN 0.875% Due 12-20-17 3,500,000.00 3,481,867.68 3,503,829.00 AA+ Aaa 3.40 1.28 12-20-17 1.29
3135G0ZB2 FEDERAL NATL MTG ASSN 0.750% Due 04-20-17 5,000,000.00 4,993,805.75 5,004,945.00 AA+ Aaa 4.86 0.95 04-20-17 0.64
3137EADG1 FEDERAL HOME LN MTG CORP 1.750% Due 05-30-19 5,000,000.00 5,030,092.72 5,106,150.00 AA+ Aaa 4.96 1.52 05-30-19 2.67
3137EADJ5 FEDERAL HOME LN MTG CORP 1.000% Due 07-28-17 4,000,000.00 3,996,690.45 4,011,680.00 AA+ Aaa 3.90 1.09 07-28-17 0.91
3137EADN6 FEDERAL HOME LN MTG CORP 0.750% Due 01-12-18 5,000,000.00 4,973,945.41 4,994,720.00 AA+ Aaa 4.85 1.14 01-12-18 1.36
3137EAEB1 FEDERAL HOME LN MTG CORP 0.875% Due 07-19-19 3,000,000.00 2,993,018.72 2,985,168.00 AA+ AAA 2.90 0.96 07-19-19 2.84
FIDPRIME690 FIDELITY INST PRIME 690 146,721.84 146,721.84 146,721.84 0.14 0.01
037833AJ9 AAPL / APPLE INC 1.000% Due 05-03-18 3,000,000.00 2,970,417.61 2,999,499.00 AA+ Aa1 2.91 1.61 05-03-18 1.65
36962G3U6 GE / GEN ELECTRIC CAPITAL 5.625% Due 05-01-18 3,000,000.00 3,178,719.51 3,225,009.00 AA+ A1 3.13 1.90 05-01-18 1.58
437076BE1 HD/HOME DEPOT INC 2.000% Due 06-15-19 2,500,000.00 2,493,898.37 2,555,747.50 A A2 2.48 2.09 06-15-19 2.62
48126EAA5 JPMORGAN CHASE & CO 2.000% Due 08-15-17 2,000,000.00 2,010,140.74 2,015,764.00 A A3 1.96 1.45 08-15-17 0.95
740189AL9 PCP / PRECISION CASTPARTS CORP 2.250% Due
06-15-20
1,500,000.00 1,499,886.64 1,539,268.50 A- A2 1.49 2.25 06-15-20 3.54
855244AF6 SBUX / STARBUCKS CORP 2.000% Due 12-05-18 3,000,000.00 3,009,446.25 3,053,784.00 A- A2 2.97 1.85 12-05-18 2.12
94974BFG0 WFC / WELLS FARGO & CO 1.500% Due 01-16-18 3,000,000.00 2,993,705.07 3,011,742.00 A+ A2 2.92 1.66 01-16-18 1.36
912828N89 UNITED STATES TREAS NTS 1.375% Due 01-31-21 3,000,000.00 3,006,851.43 3,027,186.00 AA+ Aaa 2.94 1.32 01-31-21 4.27
912828RE2 UNITED STATES TREAS NTS 1.500% Due 08-31-18 5,000,000.00 4,995,848.37 5,067,385.00 AA+ Aaa 4.92 1.54 08-31-18 1.97
912828UA6 UNITED STATES TREAS NTS 0.625% Due 11-30-17 6,000,000.00 5,953,838.76 5,992,032.00 AA+ Aaa 5.82 1.26 11-30-17 1.24
912828UZ1 UNITED STATES TREAS NTS 0.625% Due 04-30-18 5,000,000.00 4,935,358.97 4,987,305.00 AA+ Aaa 4.84 1.43 04-30-18 1.65
912828WC0 UNITED STATES TREAS NTS 1.750% Due 10-31-20 4,000,000.00 4,085,633.51 4,099,532.00 AA+ Aaa 3.98 1.22 10-31-20 3.99
45462TED0 INDIANA BD BK REV REF-TAXABLE 2.050% Due
07-15-19
1,355,000.00 1,355,000.00 1,376,219.30 AA+ 1.34 2.05 07-15-19 2.78
57582RAP1 MASSACHUSETTS ST 1.850% Due 11-01-19 950,000.00 962,991.38 968,154.50 AA+ Aa1 0.94 1.41 11-01-19 3.06
605581GL5 MISSISSIPPI ST 1.852% Due 11-01-19 1,000,000.00 1,000,000.00 1,018,800.00 AA Aa2 0.99 1.85 11-01-19 3.06
88213AEE1 TEXAS A&M UNIVERSITY 1.445% Due 05-15-19 1,000,000.00 1,000,000.00 1,008,990.00 AAA Aaa 0.98 1.45 05-15-19 2.64
917542QT2 UTAH ST TAXABLE - B - BUILD AMER BDS 3.289%
Due 07-01-20
1,000,000.00 1,044,401.85 1,073,560.00 AAA Aaa 1.04 2.06 07-01-20 3.60
TOTAL 101,951,721.84 102,185,839.42 102,983,520.64 100.00 1.32 1.96
10