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R-2018-5205 - 2/22/2018 RESOLUTION NO. R-2018-5205 WHEREAS, Chapter 2256, Texas Government Code, Section 2256.023 of the Public Funds Investment Act states that a written report of investments be submitted to the governing body at least quarterly; and WHEREAS, a Quarterly Investment Report for the quarter ending December 31, 2017 for the City of Round Rock has been submitted to the City Council; and WHEREAS, the City Council desires to acknowledge the receipt and acceptance of the attached Quarterly Investment Report,Now Therefore BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, That the Quarterly Investment Report, attached hereto as Exhibit "A" and incorporated herein, is hereby received and accepted. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Resolution was adopted was posted and that such meeting was open to the public as required by law at all times during which this Resolution and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended. RESOLVED this 22nd day of February, 2018. CRAIG26und RGAN ayor City of Ro , Texas ATTEST: IA"� uv�l- SARA L. WHITE, City Clerk 0112.1804;00395309 EXHIBIT „A„ ROUND �'. Crit. DAS FINANCE QUARTERLY LY I VE TMENT REPOR'. For the Quarter Ended December 31, 2017 Prepared by Valley View Consulting, L.L.C. The investment portfolio of the City of Round Rock, Texas is in compliance with the Public Funds Investment Act and the Investment Policy and Strategies. Chi Financi I fficer . Deputy Chief Financial Off Accountinq Manaqer Treasvr Accountant Valley View Consulting, LLC Dated Disclaimer:These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting,L.L.C.from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas,are not representative of total return yields and do not account for investment advisor fees. Summary Moldings by Investment Category(Security Sector) December 31,2017 YTM @ Description Cost Book Value Market Value Cash 0.54% $ 7,325,453 $ 7,325,453 Certificates of Deposit 1.43% 230,858,787 230,858,787 Local Government Investment Pool 1.18% 34,177,530 34,177,530 Money Market Accounts 1.61% 39,123,557 39,123,557 Municipal 1.31% 15,316,301 15,243,520 US Agency 1.79% 4,845,007 4,812,902 Total 1 Average 1.41% 1 $ 331,646,635 $ 331,541,749 September 30,2017 YTM @ Description Cost Book Value Market Value Cash 0.38% $ 8,982,135 $ 8,982,135 Certificates of Deposit 1.26% 211,715,905 211,715,905 Local Government Investment Pool 1.02% 28,746,017 28,746,017 Money Market Accounts 1.44% 44,205,798 44,205,798 Munici al 1.21% 20,360,196 20,312,407 Total/Average 1.23% $ 314,010,050 $ 313,962,261 Average Yield Current Fiscal Year- Quarter(1) to-Date(2) Total Portfolio 1.41% 1.41% TexPool Yield 1.18% 1.18% Rolling Three Mo.Treas.Yield 1.23% 1.23% Rolling Six Mo.Treas.Yield 1.26% 1.26% Rolling 1 Yr.Treas.Yield 1.20% 1.20% Rolling 2 Yr.Treas.Yield 1.12% 1A2% Investment Income(3) Interest Income(Approximate) $ 1,056,350 $ 1,056,350 WAM at 12/31/2017 Policy WAM Max Total Portfolio 268 days 540 days Pooled Funds 306 days 540 days (1)Average Yield calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. (2)Fiscal Year-to-Date Average Yields calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. (3)Investment Income includes coupon interest,accrued interest,and discount and premium amortization. Page 1. Valley View Consulting,L.L.C. Economic Overview 12/3112017 The Federal Open Market Committee(FOMC)increased the Fed Funds target range to 1.25%-1,50%(Effective Fed Funds are trading+/-1.41%)at the Dec FOMC meeting. Two to three additional increases are projected for 2018(although subject to economic activity). Gradual portfolio reduction continues by limiting reinvestment of maturing holdings. Third Quarter 2017 GDP measured 3,2%. December Non Farm Payroll data recorded a weaker than expected+148k. US economic data continues positive trend. Washington passed an extensive tax cut. Crude 61 trading+/-$60 on Middle Eastern turmoil. The Stock Markets once again achieved new highs. Jerome Powell will replace Fed Chair Janet Yellen, 3.00 Treasurer Yield Curve's S&P 500 3,000 -------- 2.7,50 ...... .......... ................................... ..........---.......... 2.50 ................ V ................................................................................................................................................................................ .............................................................. 2,250 ........................ ................................. ---------------------- ............................. ........................ 2.00 .............................. 2,000 - a, W 1.50 1,750 ............. ............... 1,500 ........... 1,00 1,250 ..................................................................... IWW 1,000 ............... .. ...... -4 0,50 750 500 .........-------------------------------------......................... ......................... ........................................................... 0.00 250 --1................ ..................................................................................... ..............................................................I........ .................................. .. ................. .. ................. .......... ............ ....... ..... .............. ........... December 31,2016 September 30,2017 —December 31,2017 41 O� 41 '01 41 '01 �0 41 �� 5.50 US Treasu!y Historical Yields-Since 2006 US Treasug Historical Yields-Since Nov 2015 3.00 5.00 450 tw� .... ... ............................................. 2,50 4.00 3.50 ......... 2.00 ——-—------- ....................................... "'`'v.. ..._._......_..._..._._._ 3,00 2.50 .......................................................................... ........................................................ -2.00 ------------- ........................................... .......ft 1.50 . ................... ................................................ ................................... ......................... 1.00 ---------------------. ... ........ ......................................... ................... ......... 410 00 0.50 ............................................................................................................................................... 0.50 ------------------- ...............*'*"'*................*'*"**"*------- --------,maxdI ........ arla 0,00 - <2 Lab -91 e0e spq Nq NIb Nro NIb W wsl . .......... ........ ......... 0, �e vilv 40' spq ................. ........................................T.w.oAaar..T:Aote_._......... ............. 3 tot_............._.. n IwsLYauJ.N_Qtv Tan Year L Valley View Consulting,L.L.C. Page 2. Holdings by Investment Category December 31 2017 Pooled Debt Service Debt Service Reserve Capital Project&Special Total Funds Funds Funds Purpose Funds Portfolio Description Book Value %of Portfolio Book Value %of Portfolio Book Value %of Portfolio Book Value %of Portfolio Book Value %of Portfolio Cash $ 7,319,441 2% $ 6,012 0% $ 0% $ - 0% $ 7,325,453 2% Certificates of Deposit 215,743,110 65% - 0% - 0% 15,115,676 5% 230,858,787 70% Investment Pools 19,770,280 6% 8,171,279 2% 8,337 0% 6,227,634 2% 34,177,530 10% M2!1!! Market Accounts 16,042,886 5% 1,918,385 1%0 811,136 0% 20,351,149 6% 39.123,557 12% Municipal 15,316,301 5% - 0% - 0% - 0% 15,316,301 5% USA enc 4,845,007 1% - 0% - 0% - 0% 4.845,007 1% Total I Average $279,037,026 84% 095,676 3% $ 819,473 0% $ 41,694,460 13% 331,646,635 100% Portfolio Balances (Millions) $350 Order of Liquidity $300 13 Cash $250 01-ocal Govemment Investment Pool $200 El Money Market Account $150 (3 US Agency $100 DMunicipal $50 oCeruficates of Deposit $0 Pooled Funds DS Funds DSR Funds CP&SP Funds Total Portfolio 12/3112017 12/3112017 12/31/2017 1213112017 12/31/2017 Page 3. Valley View Consulting,L.L.C. Investment Holdings by Investment Category Quarterly Transactions By Investment Category December 31,2017 December 31,2017 Portfolio Not Cash Equivalent Description Book Value %of Portfolio Limitation Description Buys Sells Maturities Calls Interest Deposit]{Withdrawal} Casts $ 7,325.453 2415 10049 Cash $ — $ — $ — $ — $ — $ (1,656.681) Certificates of Deposit 230858.787 700k 75% Certificates of Deposit 53 K6 439 — 34,463,557 — 673,083 Commercial Paper 059 10%/5% Commercial Paper — — — — investment Pools 34 177 530 10% 100% Investment Pools — — 71 006 5,431 513 Money Market Accounts 39.123.557 12% 50% Money Markets Accounts — 151,038 5 082,24 1} Mun:c3 ai 15,316,301 5°10 35°,61559 Mumu al 5.000.000 — 155,753 US Agency 4,845,007 1,0 Combined US Agency 4 825 603 - — US Treasury — 0% 75% US Treasury — — Total f Average $ 331 646,635 1 100% 1 PASSED I Totals IS 55,432,042 3 — $ 39,469,557 § — $ 1,050,880 $ 1,107,410 Portfolio Balances(Millions) Order of Liquidity Portfolio Composition $400 December 31,2017 $350 aCashCe rtificates of w Deposit $300 ❑Local Government investment µ" Pool $250Cash D Money Market Account $200 US Rgency •US Treasury 1!o o $150 13 US Agency Municipal $100 E n frfuniapal w. t7Cerlficates of Deposit Money Market �.• Accounts 12131116 3131117 6130117 9130117 12131]17 32% Investment Pools 10% Page 4 Valley View Consulting,L.L.C. Portfolio Balances By Fund (Millions) $400 $350 m Capital Project&Special $300 Purpose Funds $250 n Debt Service Reserve Funds $200 0 Debt Service Funds $150 $100 OPooled Funds $50 $0 U 9130/2015 12/3112015 3/31/2016 6/3012016 9/30/2016 12/31/2016 3/31/2017 6/3012017 9/3012017 12/3112017 Page 5. Valley View Consulting, L.L.C. City of Round Rock Pooled Funds Performance 1.50 1.40 1.30 1.20 1.10 1.00 0.90 ,., 0.80 c i 0.70 a. 0.60 ;; n 0.50 r 0.40 . ... 0.30 0.20 0.10 ; = 3 0.00 _. � _... — `� ►� ►�� ti`° ��O ►��' ��° ►�`° ►��' �o �`� .r° �`4 �o �o ,�1 ,�1 ►�� til �A 1 NA til ,�1 N1 �1 S1 O o 4 0 0 0 0 0 o a o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 g��0`0��`���o���,����,r\`�' g��'1,�\�p�'�'�r���'�'O\`l'��ti�`�'`�,,``���'O�` ����R,�O�`Z ►��`',���`' O\`Z'`O►\`L��'©1L`'��`L`�fl&` 011\0 r`�`ISP 4z\P KP KIP�'�K`L Round Rock TexPool a Rolling 1.5 yr Treasury (Policy WAM max) Rolling 9 mo Treasury (Comparable WAM) Valley View Consulting,L.L.C. Page 6. Holdings by Allocation and Portfolio (Fu d) December 31, 2017 Issuer coupon Credit Rating settle nt Face Amountj Book Value Market Market Value Matur4 Date Days to YTM @ Rate Date Shares Price Maturity Book Fund 000-Pooled Investments Nex6ank 1112912016 16,002,273 $ 16,002,273 100L0 6 16.002,273 N/A 11.62`10 Green Bank 1,32% 06,'09/2016 40,612 40.612 100.00 40,612 N/A 1 1,32% JPV.orqan Chase 0.5 4 09/3012015 7,319,441 7,319,441 100.00 7:319,441 N/A 1 0,54% TexSTAR 1,160, AAAm 09130120,15 191.743 191,743 100,00 191,743 NiA 1 IA8% TexPool 1.180"1AAAm 09=12015 19,528,247 19,528.247 100.00 19.528,247 N/A 1 1.18% �-1-U1 11 TexasDAILY 1,21% AAAm 09/3012015 50,290 50,290 100,00 50,290 NIA 1 1.21% Southside Bank 1,120% 01106,12016 7,648,299 7,648.299 100-00 7;648.299 0110812018 8 1.12% Southside Bar* 1.00% 0112512016 5,088,194 5,088:194 100,00 5,088,194 0112515)2018 25 1,00% Arlington TX ISD 0,00% Aaa/AAA/- 07121612016 500,000 499,363 99.80 499,015 02115/2018 46 1.02% Lubbock TX 4.44% Aa2/AA+/AA+ 02142017 1,0400,000 1,044,384 10033 1,043,411 0211512018 46 1.07% Union Stale Bank 1.20% 02i2312017 5,000,000 5,000,000 100.00 5,000,000 02122/2018 53 1.20% Inde2endent Bank 1.000 0212512016 13,229,000 13,229,000 100.00 13,229,000 02125/2018 56 1,00% LegacyTexas Bank 1,05% 06i2012016 5,079,411 5,079,411 100.00 5,079,411 03/20/2018 79 1.05% LegacyTexas Bank 1.00% 07/0612016 4,564,291 4,564,291 100,00 4,564,291 0410612018 96 1.00% Unit-.in State Bank 1.25% 0511112017 2,000,000 2,000,000 100,00 2,000,000 05/1012018 130 1 25510 R Barak 1.5010 05i1312016 7,671J32 7,671,132 100,00 7,671,132 0511412018 134 1,50% Texas A&M University System 1.54% Aaa/AAAJAAA 10/2812015 3,570,000 3,577,095 99.87 3,565,466 05115/2018 135 0.99% .LegacyTexas Bank 1A0% 061012016 5,083,222 5,083,222 10000 5,083,222 06/04/2018 155 1,10% LegacyTexas Bank 1,10% 0612012016 5.083,2212 5.083,222 100.00 5,083,222 06/20/2018 171 1.10% LegacyTexas Bank 1.05% 07/06/2016 4,567,528 4,567,528 100,00 4,567,528 07/0612018 187 1.05R/0 Union State Bank 1.45% 08i10/2017 5,000,000 5,000,000 100 00 5,000,000 08/09/2018 221 1.45% LeQacyTexz..s Bank 1.0200 08/2912016 10.136,965 10,136,965 100.00 10,136,965 0812912018 241 1.02% Green Bank 1,02% 09i13/2016 5,064,041 5,064,041 100.00 5,064,041 09/13/2018 256 1.02% R Bank 1.65% 10102i2017 2,000,000 2,000,000 100.00 2,000,000 10/0212018 275 1,65% Southside Bank 1,32% 04/06/2017 6,039,774 6,039,774 100.00 6,039,774 10/0512018 ?78 1,32% Wallis State Bank 1,28 m 01127/2017 4,543,219 4,543,219 100,00 4,543,219 10129/2018 102 4 1 1.28% DFW Airpon-Txable Ref 3,12% A 1/A+!A 03124/2017 5000,000 5,066,378 100.89 5,044,300 11/01/2018 305 1.50% Wallis State Bank 130% 02i16/2017 5,048774 5,048.774 100.D0 5,048,774 11115/2018 319 1.30% Southside Bank 1,15460 12/06/2016 5057,748 5057,748 100,00 5,057,748 12/06/2018 340 1.15% Lubbock National Bank 1,45% 011112017 10,4 33,488 10,133,488 100.00 10.133,488 01 112019 376 1.45% Tomball TX CO's 5.00% Aa3iAA+- 12120/2016 775,000 805,784 10175 804094 02/1512019 411 1..40% eQacL Texas Bank 146% 0211712017 9.610,987 9,610.987 10000 9.610,987 02119,'2C,19 415 1,40% Corpus Christi-Ref 1.81% Aa21AA'AA 0311412016 2,250,000 2,-261,091 99,64 2,241,990 03/0112019 425 1.37% Lubbock National Bank 1.45% 0310112017 5,567,226 5,567,226 100,00 5.567,226 03101/2019 425 1.45010 R Bank 1.74% 10/0212017 2,000:000 2,000,000 100.00 2,000,000 04102/2019 457 1.74% Lubbmk National Bank 1.50111r.z 04/05/2017 6,060,429 6060,429 100.00 6.060A29 04/05/2019 460 1.50% Inde 2endeniBank 1.65% 0510112017 5.041,676 5,041,676 100.00 5,041,676 05101/2019 486 1,65% Texas A&M Univ 1.949.0 AaafAAA/AAA 05,10112017 2,050,000 2,062,206 99,77 2,045,244 05115/2019 500 1,50% Lei-ac Texas Bank 2.05% 1212212017 4,025.999 4,025,999 100,00 4,025,999 0612112019 537 2.05% Le2acyTexas Bank 1,70% 06123/2017 5,042,768 5,042,768 100,00 5,042,768 06/2412019 540 1.70% Legsic yTexas Bank 1.70% 08/10i2017 8,045.554 8,045,554 100.00 8,045.554 08/0912019 586 130% R Bank 1.80% 0811012017 2,009,094 2,009.094 100.00 2,009,094 08/10/2019 587 1.80% LegacyTexas Sank 08/2812017 5,028,472 5,028.472 100.00 5,028472 1 08128i2019 605 130% LegacyTexas Bank 2,10% 12/21,12017 4,000,000 4,000.000 100,00 4,000,000 0912012019 628 2.10% JPMorganChase 1.64% 10102f2017 14,000,000 14,000000 100,00 14,000,000 1010212019 640 1,64% Lubbock National Bank 10102/201_7 10,027,594 10,027,594 100.00 10,D27,594 10102/2019 640 1,65% R Bank 1.83 10/02/2017 1- 2,000,000 2,000,000 100.00 2,::;00,000 10/02/2019 640, 1.83% FNMA 0-0001x -/AA-i)&-A- 10/1112017 5'000.000 4,845,007 9616 4,812,902 1010912019 647 1.79% jPMoroanChase 1,98% 11/0912017 5,000,000 5,000,000 100.00 5,000000 11/09/2019 678 1.98% Union State Bank 0.9910 12/0512016 245,000 245,000 10000 245.000 12105/2019 704 0.99% Le2acyTexas Bank 2.200f5 1 1 12/21/2017 10,000,000 10,000,000 100,00 10,000,000 12120/2019 719 2.20% Sub Total I Average 1,43% 1 279,060,718 1 279,037,026 99.951 278,932,139 3061..1,40% Page 7. Valley View Consulting,L.L.G. Holdings by Allocation and Portfolio (Fu d) December 31, 2017 Coupon Settlement Face Amount/ Market rc M @ issuer nq Settlement Days 7Y.5t YT Crodit Rati Book Value Market Value Maturity Date Maturity Rate �Date Shares Book Fund 170-Interest&Sinking GO Bonds TexasDAILY 1.21% AAAm 04!310.12016, 1.775,398 1.775,398 100.00 1,7753-08 NIA 1 1.21% NexBank 1.629'„ 0212712017 1,918,385 1,918,385 100,00 1,918,385 N/A 1 1.62% TexPool 1 18% AAAm 091130,12015 49,682 49,682 100.00 49,682 NA 1 1,18% Sub Total I Average 1.42% 3,743,466 3,743,466 100.00 3,743,466 1 1.42% Fund 210-Interest&Sinking Debt Service ffy'lorUan Chase 0.54% 09130;2015 6,012 -- 6,012 10-0.06-1-- 6012 1 N Sub Total/Average 0,54% 6,012 6,012 100.00 6,012 1 1 0.54% Fund 460-Bond Fund TexP= AAArn -1--06130/201 5 1 1,707,221 1,707.221 10000 1 707,221 NA 1 1.18% NexBank 11129/2016 17,329,392 17.329„392 100-00 17329,392 N/A 1 1 62% Sub Total/Average 1.58ae 19,036,613 19,036,613 100.00 19,036,613 1 1.58% Fund 461-CO Bond Fund TexPaol 1 16% AAAM 10/31i'2015 1,052,009 1,052.009 1 100 00 1 1052,0091 NA I i I 1.18% Sub Total/Average 1.113$8a 1,052,009 1 1,052,009 100.00 1 1,052,00!1-. Fund 462-2017 Bond Fund TexPool 1.18% AAAm 05130/2017 2,153,643 2,153,643 100.00 2,153,643 N/A 1 1.18% Ls ac Sank 1.40% 0612312017 3,021,119 3,021,119 100.00 3,021,119 0312312018 82 1.40% Le ac= Bank 1.50% 06123,12017 3,526,405 3,526.405 10 0.C,0 3,526,405 06i2212018 173 1.50% LegacyTexas Bank 1.55% 06/2312017 3,023,389 3,023,389 100,00 3.023,389 09/24/2018 267 1.55% Le2acyTexas Bank 1,60% 06123/2017 2,016,096 2,016,098 100.00 2,016.098 1212412018 3-58 1.60% Legagy.Texas Bank 1.65% 06/23/21311 1.008,301 1,008,301 100.00 1,008301 1 0312212019 1 4461 1,659ra LegacyTexas Bank 1. 6-6--1-23/2017 1,008,554 1,0081554 1 100,00 1,008,554 06,241'20191 � 1.709% Sub Total/Average 1.48% ........... 15,757,509 15,757,509 1 100.00 15,757,509 1 2151 1.48% Fund 591-Reserves Fund Green Bank 1.3299% 06/09/2016 1 611,136 811,136 100.00 811,136 NA 1 1,32% TexPool 1,18". A.AAm 0913012015 8,337 8,337 100.00 8,337 NA 1 1.18% Sub Total I Avera2e 1.32 80 819,4731 819,473 100.00 819,4731 1 1,32% Fund 602-Interest&Sinking Revenue Bonds TexPool 1.18%," AAAm 09i30i2015 6 346 1-22j- 6,346,199 1 100.00 6,346,199 N/A I 1 1.18% Sub Total/Average '1.18°I® 6,346,199 1 6,346,199 1 100.00 1 6,346,1991 1 11 1.18% Fund 863-Drainage Utility Revenue Bond TexPool 1.18% AAAm '10/31120,15 1,344,761 1,314,761 100.00 1,314,761 NIA 1 1.16% Nex8ank 1.62% 07/3012017 3021,757 3,021.757 100,00 3,021.757 N/A 1 1.62% Southside Bank 1.05% 01/11,12017 1,511,811 1,511,811 100.00 1,511,811 0111112018 11 1.05% Sub Total/Average 1.37% 5,848,329 5,848,329 100.00 5,848,329 4 1,37% Total i AveraUe 1.42% 1 331,670,327 $ 331,646,635 99.96 $ 331.541,749 2" 1.41% Valley View Consulting,L.L,C. Page 8. Book Value Comparison December 31, 2017 Issuer Coupon Settlement Maturity Date Beginning Book Total Buys/ Total Sells/ Ending Book Change In Book Rate Data Value Increases Decreases Value Value Fund 000-Pooled Investments JPWruan.Chase NIA 09/30/2015 N/A s 8.977,079 $ 468,771 $ 2,126,409 $ 7,319,441 $ (1,657,638) TexPool N/A 09130/2015 N/A 9,308,842 1161459,225 6,239,820 19,528,247 10,219,405 exSTAR NIA 09130/2015 N/A 191213 530 - 191,743 530 TexasDAILY N/A 09130/2015 N/A 5,048,586 1,704 5,000,000 50,290 (4,998,296) Nex-Sank N/A 11/29/2016 N/A 18.9W,459 60,815 3,000,000 16,002,273 (2,939,185) Green Bank NIA 0610912016 N/A 2,038,344 2,268 2,000,000 40,612 (1,997.732) TX Pub Fin Auth-Txbi 0.94% 02/0812017 10101/2017 5,000,005 - 5,000,000 - j5'000'005� Southside Bank 0.97% 12/08/2015 1010112017 5,088,907 - 5,088,907 5,088,907 Inde2endent Bank 0.9510 03/3012016 1010212017 10,119,512 - 10,119,512 (10,119,512) Southside Bank 1.00% 12/08/2015 11/01/2017 5,088,333 - 5,088,333 (5,088,333) LeaaaTexas Bank 0.92% 0812912016 11129/2017 5,050,137 3,819 5,053,956 (5,050,137) Southside Bank 1,03% 12M812015 1210112017 5,091,003 - 5,091'003 (5,091,003) Southside Bank 1.12°'; 01=06/2016 0110812018 7,626,769 21,530 - 7.648,299 21,530 Southside Bank 1.00% 01 25/2016 01/25/2018 5,075,401 12.793 - 5,088.194 12,793 Arun ton TX ISD 0.00% 07"26;2016 02115/2018 498,090 - - 499,363 1,273 LUbbock TX 4,440a 0211412017 0211512018 1,053,152 - 1,044.384 (8,768) Union State Bank 1.20% 02!212017 0212212018 5,000,000 - - 5.000.000 - Inde Bank 1.00% 02;;2512016 0212512018 13,195,740 33,260 - 13,229,000 33,260 LegacyTexas Bank 1.0511i:� 0612012016 03/20/2018 5,066,138 13,274 - 5,079.411 13,274 LegacyTexas Bank 1.00P07:06;2016 04/06/2018 4,552,931 11,361 - 4,564,291 11.361 Union State Bank 1.25% 05 11:2017 05/1012018 2,000,000 - - 2,000,000 - R Bank 1.500,1, 051 3f2016 0511412018 7,642,184 28,948 - 7,671,132 28,948 Texas A&M University System 1.54°i 101"28(2015 05/15/2018 3,561,9219 - - 3,577,095 (4.835) Le Bank 110% 06103/2016 06/0412018 5,069,307 13,915 - 5,083,222 13;915 LegacyTexas Bank 1.10 0611;2012016 06120/2018 5.069,307 13:915 - 5,083,222 13,915 LegacyTexas Bank 1 0.5% 07=0612016 0710612018 4,555,592 11.936 - 4,567,528 11,936 Union Slate Bank 1 45°;. OBAO/2017 08/0912018 5.000,000 - - 5,000,000 - Leg.acyTexas Bank 1,024E 08129112016 08129/2018 10,111,230 25.735 - 10,136,965 25,735 Green Bank 1.02°',, 09112016 09113/2018 5,051,195 12,845 - 5:064,041 12,845 R Bank 1.65°c 1010212017 10/02f2018 - 2;000,000 - 2,000,000 2,000,000 Southside Bank 1.32% 04106/2017 10/05/2018 6.019.746 20,028 - 6,039,774 20,028 Wallis State Bank 1.28% 01/2712017 16/29/2018 4,528,609 14,611 - 4,543,219 14,611 DFVV Attr2orl-Txable Ref 3.12% 03/2412017 11/01/2018 5.086.400 - - 5.066,378 (20.022) Wallis State Bank 1.30% 021/1612017 1111512018 5,032,285 16,489 - 5.048,774 16,489 Southside bank 1,15% 1210612016 1210612016 5,043,269 14,460 - 5,057,748 14,460 Lubbock National Bank 1.45% 01,111/2017 01111/2019 10,096,943 36,545 10,133,488 36,545 Tomball TX CO's 5.00% 12120/201:61—()2/15/2019 812.675 - - 805.784 (6,891) LeqacyTexas Hank 1.40% 0211712017 0209/2019 9,577,519 33,468 - 9,610,987 33,468 Cor us Christi-Ref 1.81% 03114112016 03/0112019 2.263,492 - - 2,261.091 (2,401) Lubbock National Bank 1.45% 03.101/2017 03101/2019 5,546,928 20,298 - 5,567,226 20,298 R Bank 1.74% 10102/2017 0410212019 - 2,000:000 - 2,000,000 2,000,000 Lubbock National Bank 1.50% 0410512017 04/0512019 -6,037,821 22,608 - 6,060,429 22,608 Independent Bank 1.65,1110 05101,12017 0510112019 5.020,795 20,881 5,041,676 20.881 Texas AW Univ 1.94% 05,10112017 05/1512019 2,064,452 - 2,062,206 (2,246' Le,acyTexas Bank 2.05% 1212212017 06121/2019 - 4.025,999 4,025,999 4,025,999 LegacyTexas Bank 1.70% 0612312017 06,12412019 5,021,455 21,313 1 5,042,768 21,313 LegacXTexas Bank 1.70% 0811 0/2017 0810912019 8,011.551 34,004 8.045,554 34.004 1 1 1 -------------�:------ R Bank 1,80% 08110120107 08110/2019 2.000,000 9,094 - 2,009,094 9,094 LegacyTexas Bank 1.70% 081,2812017 08128/2019 5,007,219 21,252 - 5.028,472 21,252 LegacyTexas Bank 2,10% 12%21!2017 09120,12019 - 4,000,000 - 4,000,000 4,000,000 JPNIorganChase 1.64% 1010212017 10/0212019 - 14,1100,000 - 14;000.000 14,000,000 Ldbbock National Bank 1.65% 1010212017 10/0212019 - 10,027,594 - 10,027,594 10,027,594 R Bank 1.83% 1010212017 10102,12019 - 2,000,000 - 2,000W0 2,000,000 FNN1.A 0,00% '•0/1112017 10/0912019 - 4,825,603 - 4,845,007 4,845,007 jPMarganChase 1,98% 1110912017 1110912019 - 5,000,000 5,000,000 5,000,000 Union Stale Bank 0.99% I210512016 12,10512019 245,000 - 245000 - Page 9. Valley View Consulting,L.L.C. Book Value Comparison December 31, 2017 Issuer Coupon Settlement Maturity Date Beginning Book Total Buys/ Total Sells/ Ending Book Change In Book Rate Date Value Increases Decreases Value Value LegacyTexas Bank 2,20% 12,121,2017 1212012019 -- 10Z0(:0,000 - 10,000,000 10,000,000 Sub Total/Average Fund 000-Pooled Investments 257.508,566 75,360,892 53,807,941 279,037,026] 21,528,460 Fund 170-Interest&Sinking GO Bonds TexPwl NIA 0913012015 N1A 42.769 7,663 750 49,682 6,913 TexasDAILY N/A 0413012016 NIA 26519 1,172,580 - 1.775.398 1,772,880 NexBank NIA 02f2712017 NfA 2,144,375 7,290 233,280 1,918,385 (225,990) Sub TotallAverage Fund 170-Interest&Sinkin2 GO Bonds 2,189,663 1,787,832 234,030 3,743,466 1,553,802 Fund 210-Interest&Sinking Debt Service jPMorgan Chase N.,A 0-913012015 NIA, 5,055 957 6,0 957 Sub Total/Average Fund 210-Interest&Sinkinu Debt Service 5,055 6,012 957 Fund 460-Bond Fund TexPool N.A 09130/201 4,229.8331 9,030 2531,642 1,707,221 (2,522,612) Ne.x8ank NA 1112912016 N1A 117,263,533 65,859 17,329.392 65,859 Sub Total/Average Fund 460-Bond Fund 21,40-4'165 71,8901 2531 642 1 19,036,613 (2,456,752) Fund 461-CO Bond Fund TexPoal NA 1-0131105 INA 1 1 151.552 480 1 103,063 1 1,052,009 (99,583) Sub Total/Average Fund 461-CO Bond Fund ............ 3,4' 103,062.861 1,052,0013.tOt (99,583) 1,151,592.19 79,591 Fund 462-207 Bond Fund TexPorif NfA 051301°2017 NA 55,911,696 1'.621 3,769,674 2,153,643 (3,758,053) LegacyTexas Bank 1,30% 0612312017 1212212017 4,013,121 8.724 4,021,845 - (4..13,121) LegacyTexas Bank 1.40%, 0612312017 03,12312018 3,010,599 10,520 - 3,021,119 10,520 LeoacyTexas Bank 1,50% 06,1212017 06122/2018 3,513,250 13,155 3,526,405 13,155 LegacyTexas Bank 1'5511� 06/23621317/ 09/24/2018 3,011,736 1;653 3,023,389 11,653 LegacyTexas Bank 1,60% 06123/20,17 1212462018 2.,008,0377 8,021 F 2,016,098 8,021 LegacyTexas Bank 1.616%c 06123/2 22,12019 1,004,165 4,137 1,008,301 4.137 LegacyTexas Bank 1.70% 0612312017 061241201 1,004,291 4,263 1,008,554 4,263 Sub Total/AveraSe Fund 462-2017 Bond Fund 23,476.934 72,093 1 7.791,519 15.757.509 _(7,719,425 Fund 591-Reserves Fund iexPoof N 1A 0913012015 N!,A 8.31# 23 1 8,.337 23 Green Bank NIA 05!0912016 N/A 807,816 3,320 811,136 3,320 Sub Total/Average Fund 591-Reserves Fund 816.130 fEE� 3,343 - 819,473 3,343 Fund 602-Interest&Sinking Revenue Bonds T expool N.;A 0913W2015 Aa A 1,459,687 5,708,5277 822,015 6,346,199 9 4,886,512' -------------- Sub Total/Average Fund 602-Interest&Sinking Revenue-Bond-s-] 1,459,687 5.708,527 1 822,015 6.1.346-19 4,886,512 Fund 863-Drainage Utility Revenue Bond TexPoai NIA 1 0/3 11201 5 NA 1,390,966 4.317 80,523 1,314,7610 (76,205) NexBank NIA 07113012017 NiA 3,010.271 11,486 3,021,757 11,486 Southside Bank 1 05% 01:11•'2017 01 1112018 1,507,820 3.991 - 1,511.811 3,991 Sub TotaliAverage Fund 863-Drainage Utili!j Revenue Bond 51909,058 19,794 80,523 5,848,329 60729 Total I Average 5 314,010,050 $ 83:031,808 65,370,732 $ 331,646.635 $ 17,636,585 Valley View Consulting,L.L.C. Page 10. Market Value Comparison December 31, 2017 Issuer Coupon SettlementBeginningDate Beginning Market Total Buys/ Total Sells/ Ending Market Change in Market Rate Date Maturity Value Increases Decreases Value Value Fund 000-Pooled Investments JPMorqan Chase WA 09/30/2015 NIA 3 8,977,079 $ 468,771 1$ 2,126.409 $ 7.319,441 TexPool NIA 09M0/201 5 NIA 9,308,842 16,459,225 6,239,820 19,528.247 TexSTAR NA 09J30/2015 N/A 191,213 530 - 191,743_ TexasDAILY N/A 0913012015 NIA 5,048.586 1,704 5,000,000 50.290 NexB,ank NA 112912016 4 I NIA 18,941,459 60,815 3,000,000 16.002,273 Green Bank WA 0610912016 NIA 2,038.344 2,268 2.000.000 40,612 T X Pub Fin Auth-Txbl 0.94% 0210812017 10/0112017 5,000,000 - 5,000.000 - Southside Bank 0,97% 1210812015 10101/2017 5,088,907 - 5.088,907 - - Independent Bank 0.95% 0313012016 10102/2017 10,119,512 - 10,119,512 - -- Southside Southside Bank 1.00% 12/0812015 11/01/2017 5,088,333 - 5.088,333 - - LeqaciTexas Bank 0.92% 08129/2016 1112912017 5,050,137 3,819 5,053.956 - - Southside Bank 1,03% 1210812015 12/0112017 5,091,003 - 5.091,003 - - Southside Bank 112% 0V0612016 01105/2018 7,626,769 21,530 - 7,648,299 Southside Banff; 1,00% 0112512016 01125/2018 5,075,401 12,793 - 5,088,194 - Arlington TX ISD 0.00% 07/21612016 02115/2018 496,860 - - 499,015 2.155 Lubbock TX 4.44% 0211412017 02(15120 18 1.051,305 - 1,043,411 (7.894) Union Slate Bank 1,20% 0,712312017 0212212018 5.000,000 - 5,000,000 independent Bank 1.00% 02125i2016 02!2512018 13,195,740 33,260 13,229,000 - Le gagyTexas Bank 1.05% 06,120/2016 03/20/2018 5,066,138 13,274 - 5,079,411 LegaqyTexas Bank 1,00% 07106/2016 04/06/2016 4,552.931 11,361 - 4,564.291 Union State Bank 1.25% 05:11112017 05110,12018 2,000:000 - - 2.000,000 R Bank 1.50% 05/13/2016 05114/2018 7,642,184 28,948 - 7,671,132 Texas A&N1 Univers;ty System 1.54OI '1015 05/1512018 3.569,500 3,565,466 (U34) �U 10!28!4 - - Le ac Bank 1.10% 06,1013,12016 06104,12016 5,069,307 13r915 - 5,083,222 LegacyTexas Bank 1.10% 06112012016 06/20/2018 5.069,307 13,915 - 5,083,222 LegacyTexas Bank 07/06,12016 07/0612018 4.555,592 11,936 - 4,567,528 Union State Bank 1,45% 0811012017 08109/2016 5.000,000 - - 5,000,000 Le ac` Bank 1.02% 0812912016 08129/2018 10,111,230 25,735 10,136,965 Green Bank 1.029 09,11312016 09/1312018 5,051.195 12,845 5,064,041 R Bank 1.65/ 10/0212017 10/0212018 - 2,000.000 2,000.000 Southside Bank 1.32% 0410612017 10,105/2018 6,019,746 20.028 6039,774 'Watfis State Batik 1,28% 0112712017 10/2912018 4,528,609 14,611 4543,219 DFW Auort-Txable Ref 112% 03/24,12017 11/01/2018 5,073,300 5,044,300 129.000 Wallis State Bank 1.30% 0211612017 1111512018 5,032,285 16489 5,048,774 Southside Bank 1.15% 1210612016 1210612018 5,043,289 14460 5.057,748 Lubbock National Bank 1.45% 0 1 il 1/2017 01111/2019 10,096.943 36545 10,133,488 Tornball TX CO's 5,00% 1212012016 02/1512019 815,796 - 804,094 f 11,703) Le ac Texas Bank 1.40% 02/1712017 0211912019 9,577,519 33.468 9,610,987 - Cor Its Corpus Chnsti-Ref 1.81% 03/1412016 03101/2019 2,247,323 2,241,990 (5,333) Lubbock National Bank 1,45% 03,10112017 0310112019 5,546,928 20,298 5,567,226 R Bank 1.74% 10102/2017 04,702!2019 - 2.000.000 2.000,000 Lubbock Nat oval Bank 1.50% 04,105/2017 04f0512019 6,037,821 22:608 6,060429 Independent Bank 1.65% 0510112017 0510112019 5,020,795 20,881 5,041 676 Texas A&M Univ 1,94% 05,101/2017 05/1512019 2,058,323 - 2,045,244_ (13,079) LeUacyTexas Bank 2,05% 1212212017 0612112019 - 4,025,999 4,025,999 Le ac Texas Bank -1.70% 06123/2017 0612412019 5,021,455 21,313 5042.768 LegaeTexas Bank 1.70% 0811012017 081091201 9 6,011,551 34,004 8,045,554 R Bank 1.80% 0811012017 08110/2019 2,000,000 9,094 2,009,094 Le.ac Bank 1,705 08/2812017 08,128/2019 5,007,219 21,252 5.028,472 LeoacyTexas Bank 2,10% 1212112017 O9i2012019 - 4,000000 4,000,000 jPMorganChase 1.64% 10/02/2017 10102/2019 - - 14,000,000 14,000,000 Lubbock National Bank 1.65% 10"0212017 1010212019 - 10,027,594 10,027,594 R Bank 1.83% 10102j2017 1010212019 - 2,000.000 - 2,000,000 FNFAA 0.00% 10/11/2017 i0109i2019 I - 4.825,603 - 4,812,902 j-12,701) JPNIorganChase 1,980% 1110912017 11109,12019 - 5,000,000 - 5.000,000 Union State Bank .0.99% , 12105,2016 12105i2019 245,000 - - 245,000 Page 11. Valley View Consulting,L.L.C. Market Value Comparison December 31, 2017 Issuer Coupon Settlement Maturity Date Beginning Market Total Buys/ Total Sells/ Ending Market Change In Market Rate Date Value Increases Decreases Value Value Legac`Texas Bank 2.20% 12/2112017 1212012019 - 10.000:000 - 10,000,000 Sub TotallAverage Fund 000-Pooled Investments 257,460,776 75,360,892 53,807,941 278,932,139 (81,588) Fund 170-Interest&Sinking GO Bonds TexPoof NiA 09;,'30i2015 WA 42,769 7,663 750 49,682 TexasDAILY N/A 04,13012016 WA 2,519 1,772,880 - 1,775,398 NexBank - WA 02,127/2017 NIA 2,144,375 7,290 233,280 1,918,385 Sub TotallAverage Fund 170-Interest&Sinkinj GO Bonds 2,189,663 1,787 81" 234,030 3,7d1-A6;- Fund 210-Interest&Sinking Debt Service JPMorgan Chase 7 091-3012015-1 NIA 1 5,055 957 1 - 6,012 1 Sub Total/Average Fund 210-Interest&Sinking Debt Service 5,055 957_1 6,012 1 Fund 460-Bond Fund TexPocl N.-A 1 09130,201-15-1 WA 1 4,229.833 9,030 2,531,642 1,707,221, NexBank NIA 1 V29,12(316 NiA 17,263,533 65,859 17,329,392 Sub Tota)]Averaga Fund 460-Bond Fund 21,493,365 74,890 2,531,6421 19,036,613 Fund 461-CO Bond Fund TexPool N:�A 10,13112015 N A 1,1151,592 3,480 101063 1,052,009 Sub TotaliAvorage Fund 461-CO Bond Fund 1,151,592 3,480 103,063 1,052,009 Fund 462-2017 Bond Fund TexPcd NIA 05130/2017 WA 5,911,696 11,621 3.769,674 2,153,643 LegacyTexas Bank 1,30% 0612312017 12122,12017 4,013,121 8,724 4,021,845 - LegacyTexas Bank 1.40% 06,2312017 0312312018 3,010,599 10.520 - 3,021,119 - Le gacyTexas Bank 1.50% 06123;'2017 0612212018 3,513,250 13,1553,526,405 Legacy Bank 1.55% 06123x`2017� 0912412018 3,011 736 11-653 -- 3,023,389 LegacyTexas Bank 1.60° 06123/2017 1212412018 2;008.077 8,027 2,016,098 Le2agTexas Bank 1.65% 06/2112017 0312212019 1:#304.165 4,137 1.008,301 LegacyTexas Bank 1.70% 06i212017 06Tf-4-712-01-&--T 1,004,291 4,263 1,008,554 Sub TotallAveraue Fund 462-2017 Bond Fund r 23,476,934 1 72,093 7,791,519 15.757 Fund 591-Reserves Fund TaxPoof NA------ 23 - 8,337 Green Bank NIA 06,1 16 N:A 807,81E] 3,320 811.136 Sub Total/Averaue Fund 591-Reserves Fund $16,130 3,343 - 819.473 Fund 602-Interest&Sinking Revenue Bonds TexPool 1,459,687 5708,527 822.015 6,346,199 Sub Total/Average Fund 602-Interest&SinkinU Revenue Bonds 1,459,667 5.708,527 822,0151 6,346,199 Fund$63-Drainage Utility Revenue Bond TexPa-ol NiA 10131/2015 1v;A 1,390.966 4.317 80,523 1,314,761 NexBank N/A 07130,,'2017 N,'A 3,010,271 11.486 3,021,757 Southside Bank 1,05% 01.11'2017 0111112018 1,507820 3,991 - 1,511,811 Sub Total/Average Fund 863-Drainage UtifiV.Revenue Bond 5,909,058 19,794 80,523 5,848,329 Total I Average 313,962,261 1$ 83,031,808 65,370,732 5 331,541,749,5 81,588 Page 12, Valley View Consulting,L.L.C. Holdings by Allocation and Portfolio Fund September 30, 2017 Issuer Coupon Credit Rating Settlement Face Amount] Book Value Market Market Value Maturity Date Days to YTM @ Rate Date Shares Price Maturity Book Fund 000-Pooled Investments NexBank 1,46% 11/29,,'2018 S 18,941,459 $ 18,941,459 10(Y01) $ 18,941,459 N/A 1 1.46% Green Gank 120% 06/0912016 2,038344 2,038,344 100.00 2.038344 NIA 1 1.20% JPNIcroan Chase 0.38% 0913012015 8,977,079 8,977,079 100.01) 8,977,079 NIA 1 138% TexSTAR 1.04% AAAm 09130"2015 191,213 191,213 100.00 191,213 NIA 1 1.04% TexPool 1.02% AAArn 09/3012015 9,308,842 9,308.842 100.00 9.308.842 N/A 1 1,02`;'0 TexasDAILY 1,03% AAAm 09/3012015 5048,586 5,048,586 100,00 5;048,586 N/A 1 1.03% TX Pub Fin Auth-Txbl 0.94% Aaa/AAAJ- 0210812017 5,000,000 5,000,005 100,00 5,000,000 1010112017 1 0.90% Souffiside Bank 0.97% 12/0812015 5,088,907 5,088,907 10000 5,088,907 10101/2017 1 0,97% Indeeendent Bank 0.95% 03/3012016 10,119,512 10 119,512 100,00 10,119.512 10/02/2017 2 0,95% Southside Bank I.00% 12/0812015 5,088,333 5,088,333 10000 5088,333 1110112017 32 1.00% LegacyTexas Bank 0.92% 08/2912016 5,050,137 5,050,137 100,00 5,050137 11129/2017 60 0.92% Souffiside Bank 1,03% 1210612015 5,091,003 5,091,003 10000 5,091.003 12/01/2017 62 1.03% Southside Bank 1.1206 0110612016 7,626769 7,626.769 100,00 7,626,769 0110812018 100 112% Soultiside Bank 1.00% 011/25/2016 5,075,401 5,075,401 100.00 5,075.401 01125/2018 117 1.00% Arlinaton TX ISD 0.00% Aaa1AAA,- 07/26/2016 500,000 498,090 99.37 496,860 02115/2018 138 1.02% Lubbock TX 4.44% Aa21AA+IAA+ 02114,12017 1,040,000 1,053,152 10109 1,051,305 02150318 138 1.07°' Union State Bark 1.20% 02123/2017 5,000,000 5,000,000 100,00 5,000,000 02122/2018 145 1.20% Inde 1pendentBark 1 00% 02Q512016 13.195:740 13,195,740 100.00 13,195,740 -02125/2018 148 1,00% LeoacyTexas Bank 1.05% 06120/2016 5,066,135 5,066,138 100.00 5,066,138 03120/2018 171 1.05°:b LagacyTaxas Bank 100% 0710612016 4,5152,931 4,552,931 100.00 4,552,931 04/0612018 188 1.00% Union State Bank 1.25% 05111/2017 2,000.000 2,000,000 100.00 2,000,000 05/1012018 222 1.25% R Bank 1 50:?6 05/13/2016 1 7,642,184 7,642,184 100,00 7,642.184 05/1412018 226 1.50% Texas A&M,University System 1,54% Aaa1AAA'AAA 10/2812015 3.570,000 3,581,929 99,99 3.569,500 0511512018 227 0,99% LegacyTexas Bank 1,10% 06/03/2016 5,069.307 5.069,307 100,00 5,069,307 06/04/2016 247 1,10% LegacyTexas Bank 1.10% 06120/2016 5.069.307 5,069.307 100.00 5,069307 0612012018 2611.1006 Lac Texas Bank 1.05% 0710612016 4,555,592 4,555:592 100.00 4,555592 0710612016 279 1 1.05% Union State Bank 1.45% 08110/2017 5000,000 5,000.000 100,00 5.000,000 08/09/2018 313 1.45% LegacyTexas Bank 1.02% 08,12912016 10.111,230 1'0,111.230 10000 10,111,230 0812912018 333 1.02% Green Bank 1,02% 09/13i2016 5,051,195 5,051,195 100,00 5.051,195 09113/2018 348 1.02% Southside Bank 1.32% 04/06112017 6,019,746 6.019746 100 00 6,019,746 10/05/2018 370 11.32% Wallis State Bank 1.28% 072712017 4,528,609 4,528,609 100.00 4,528i609 -1012912018 394 1.28% DFW Airport-Txable Ref 3.12°a A 1/A+fA 0312412017 5'000.000 5,086,400 101,47 5,073,300 1110112018 397 1.50% Wallis Slate Bank 1,30`".: 02/1662017 5,032,285 5,032,285 100.00 5,032,285 11115,12018 411 1.3o% Southside Bank 1.15% 12/0612016 5043,289 5.043,269 '100.00 5,043,289 12106/2018 432 1,15% I-Libback National Bank 1 45$,, 01/1112017 10.096.943 10,096,943 100.00 10096,943 0111112019 468 1.45% Tomball TX C07*s 500% Aa3,,AA+- 12120/2016 775,000 812:675 10526 815796 0211512019 503 1.40% Le2acyTexas Bank 1.40% 02117/2017 9,577,519 9,577,519 100.00 9.577,519 02119/2019 507 1.40% Corpus Chnsti-Ref 1,81% Aa2AAIAA 0311412016 2,250,000 2,263,492 99,88 2,247,323 0310112019 517 1,37% Lubbock National Bank 1.45/6 03/01/2017 5,546,928 5,546,928 100.00 5,546,928 03/0112019 517 1,45% Lubbock National Bank 1.50% 04/0512017 6,037,821 6,037,821 10000 6,037.821 04/05/2019 552 1.50% Independent Bank 1.65% 05/01/2017 5,020,795 5,020,795 100.00 5,020.795 05i01/2019 578 1.65% Texas AW Univ 1,94% AaaiAAAiAAA 0510112017 2,050.000 2,064,452 100.41 2,058.323 05115,2019 592 1.50% LegacyTexas Bank 1.70% 0612312017 5,021,455 5,021,455 100.00 5,021,455 06/24/2019 632 1,70% LegacyTexas Bank 1.70% 08/1012017 6.011,551 8,011,551 10000 8.011 551 08109/2019 678 1,70% R Bank 1.80% 08/1012017 2.000,000 2,000,000 100.00 2,000.000 08'10/2019 679 1.80% Le2acyTexas Bank 1.70063 f 1 08/28/2017 5,007,219 5,007,219 100.00 5,007,219 08i28/2019 6971 1.70% Union State Bank 0.99% 2/05/2016 245,000 1 245.000 100.00 245,000 1210512019 7961 0.99% Sub Total I Average 1.28% 257,333,370 j 257,508,566 100.05 57,460,776f 2551 1.21% 1 Valley View Consulting,LLC, Page 13. Holdings by Allocation and Portfolio (Fu d) September 307 2017 Coupon Credit Rating Settlement Face Amountl Market Market Value Maturity Date Days to YTM @ Issuer g Book Value I Rate Date Shares Price Maturity I Book Fund 170-Interest&Sinking GO Bonds TexasDAILY 1.03% AAAm 041,3012(il 2 519 2,519 100.00 2,519 NIA 1 1,03%a Nex33ank 1.46% 02/27/2017 2.144,375 2,144.375 100,00 2,144,375 N/A 1 1.46% TexPool 1.02% AAAm .0913012015 42,769 42:769 100.00 42769 NA 1 1.0200 Sub Total I Average 1.45% 2,189,663 2,189,663 10{!.6!0 2,189,663 1 1.45% Fund 210-Interest&Sinking Debt Service JPMorUan Chase 0.3830 ...........+9i30/2015 X55 5.055 100.00 5.055 1 NIA 1 038-,-, Sub Total I Average 0 5,055 - 5'055 1 100.00 5,055 11 0.38% Fund 460-Bond Fund NexBank 1 460/,: -112912016 17.20:;.53:217,263,533 100.00 17263,533 1 NA 1 1,46% TexPooi 1.02% AAAm 09/3012015 4,229.833 4,229,833 100,00 4,229,833 1 1.02% Sub Total/Average 1.37% 21,493,365 21,493,365 100.00 21,493,3651.37% Fund 461-CO Bond Fund TexPooi 1,020-, AAAm I0131,2015 1,151.592 -1.15�1,592j- I?0.00 1 1,151,5921 NA Sub Total I Average 1,02% 1,151,5921 1,151,592 1 .11 1.02% Fund 462-2017 Bond Fund TexRof 1.02% AAArta 0520"2017 5,911,696 5,911.696 100.00 5,911,696 NA 1 1.02% LegacyTeas Bank 1'3031-1 110112312017 4.013,121 4,013,121 100.00 4,013,121 12122/2017 83 1.30% LegacyTexas Bank 1.409':: 06/23/2017 3,010,599 3,010,599 100,00 3,010,599 03/2312018 174 1.40% LegacyTexas Sank 1.503,, 0612312017 3,513,250 3,513,250 100-00 3,513,250 06122/2018 265 1.50% Le.ac Bank 1,5 5 06/23i2017 3,011,736 3,011 t736 100,00 3,011�736 0912412018 '55% - 359 1, LegacyTexas Bank 1,60`X3 06f23/2017 2,008,077 2,008,077 100,00 1 2,008,077 12124!2018 450 1.60% LegacyTexas Bank 1.65% 06123/2017 1,004,165 1,004,165 100.00 1:004 03122/2019 538 1.65% LegacyTexas Sank 1.70% 06/2312017 1 004,291 1,004,291 100,00 1,004:291 0612412019 632 1,70% Sub Total I Average 1.36% 23,476,934 23,476,934 100.001 23,476.934 211 1.36% Fund 591-Reserves Fund Green Bank 1 06-/09�120�16 80 7,816 -807A81 6 100.00 807,816 N A 1 1,20% TexPool 0913012015 8314 8:314 lonoj- 8.314 NA 1 1 02% Sub Total I Average I1.20a1a .- 1 816,130 -816,130 ._100.00 818,130 1 1,20% Fund 602-Interest&Sinking Revenue Bonds TexPool 1.020,1-,,-T AAArn 09/3012015 1,459,6877 1 1,459,687 100.011 1,459,687 NIA 1 1.02% Sub Total I Avara2e 1,459,6 100.00'.] 1,1459.687 1 1.02% Fund 863-Drainage Utility Revenue Bond NexBank 1.46," 07/3012017 3,010,271 3,010,271 1-0-0.00 3,010,271 NA 1 1.46% � TaxPool 1.02% AAAm 10/3112015 1,390,966 1,390,966 100,00 1,390,966 NIA 1 1.02% Southside Bank 1.050 3 01 11!2017 1 507 820 1.507 820 10000 1,507,820 0111112018 103 1,05% - Sub Total I AveraVe 1.25% 5,909,05:8 51909.058 100.00 5,909,058 27 1.25% Total/Average 1.29% $ 313,834,854 $ 314,010,050 100.04 $ 313,962,261 226 1.23% Page 14. Valley View Consulting,L.L.C.