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Portfolio Activity <br />During the first quarter of 2014, activity in the portfolio managed by Chandler Asset Management was <br />influenced by the investment of a $5 million contribution in February. Newly purchased securities included a <br />diversified mix of Treasury, Agency and Corporate securities maturing between February 2016 and August <br />2018. Currently, the portfolio’s average maturity is 1.92 years and is about equal to that of the City’s 1-3 <br />Year Government benchmark’s maturity. <br />2 <br />3/31/2014 12/31/2013 <br />LAIF - City Pool #98-01-809 $30,844,168 $30,824,111 <br />LAIF - Successor Agency 2,852,553 2,850,716 <br />LAIF - RDA 1999 Bond Proceeds #11-01-001 0 0 <br />LAIF - RDA 2008 Bond Proceeds #11-01-038 0 0 <br />LAIF - Economic Development Agency 2 2 <br />Passbook/Checking Accounts 11,832,473 8,443,208 <br />Total LAIF and Bank Accounts $45,529,196 $42,118,038 <br />Investment Portfolio Market Value $38,714,614 $33,651,897 <br />Total Market Value $84,243,810 $75,769,935 <br />LAIF Quarterly Apportionment Rate 0.24%0.26% <br />2 year US Treasury Yield to Maturity 0.42%0.38% <br />5 year US Treasury Yield to Maturity 1.72%1.74% <br />Investment Portfolio: <br /> Average Maturity (yrs)1.92 1.72 <br /> Modified Duration 1.87 1.68 <br /> Average Book Yield 0.86%0.86% <br /> Average Yield to Maturity at Market 0.60%0.55% <br /> Average Quality S&P/Moody AA/Aa1 AA+/Aa1