Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
07/16/2019 06B 2nd Quarter 2019 Treasury Report
ti i..asxntntj kd d g$Ag ‘9'''\411101 aY ae.. x°'naa.x,,4n BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 6.B. For Meeting of: July 16, 2019 ITEM TITLE: 2019 2nd Quarter Treasury Report SUBMITTED BY: Steve Groom, Director of Finance and Budget SUMMARY EXPLANATION: The Treasury Report for the second quarter of 2019 is attached and consists of the following: 1. Second Quarter Treasurer's Report • Cash and Investments • Longterm Debt • I nterfund Borrowings There were no monthly investment transactions in June for the Investment Committee to review. ITEM BUDGETED: NA STRATEGIC PRIORITY: Public Trust and Accountability APPROVED FOR SUBMITTAL: City Manager STAFF RECOMMENDATION: Review only. Submitted for routine transparency and accountability. BOARD/COMMITTEE RECOMMENDATION: ATTACHMENTS: Description Upload Date Type D 2 19 2nd quarter Treasury repo 7/2/2019 r Me 2 } 2 A ''� �'ra .. •Ili rY • t'A FINANCE Date: July 2, 2019 To: Mayor and City Council Cliff Moore, City Manager From: Steve Groom, Finance Director Jennifer Morris, Financial Services Officer Re: 2019 — 2nd Quarter Treasury Report Updates to the City's investment policy were approved by City Council on March 5, 2019; the policy received a Certification of Excellence from the Washington Public WPTA Treasurer's Association on April 10, 2019. GEMRCATE or'EXCELLEtt Total Cash and Investments at Quarter-end total $91.5 t t million: $12.3 million in depository banks, $22.6 million in (ITV OF vtrhta the State Pool, and $56.6 million invested. The City's Investment Portfolio The City's investment activities are governed by State regulations and the City of Yakima's Investment Policy. All investments are in full compliance with the City's Investment Policy, State Statues and City Municipal Code. Calls or Maturities. During last quarter on investment was called. • $4,000,000 FFCB (2.97% yield) intended to mature 3/10/2023 Purchases. Going forward, replacing larger pieces with increments of$1,000,000 per maturity date will begin to smooth out reinvestment risk resulting in one maturity per month. The City's Investment Portfolio increased by the following purchases: • 1516 $1 ,000,000 Apple (2.63% yield) to mature 5/3/2023 • 1517 $1 ,000,000 FHLMC (2.55% yield) to mature 4/10/23 • 1518 $1 ,000,000 FFCB (2.38% yield) to mature 4/15/2021 • 1519 $1 ,000,000 FFCB (2.41 % yield) to mature 10/18/2022 • 1520 $1 ,000,000 FFCB (2.40% yield) to mature 4/29/2020 • 1521 $1 ,000,000 BNY (2.57% yield) to mature 5/3/2021 • 1522 $1 ,000,000 FAMCA (2.35% yield) to mature 6/1/2022 • 1523 $1 ,000,000 FFCB ( 2.28% yield) to mature 5/16/2022 Execution of each investment transaction contemplated ongoing cash flows from city operations, debt obligations, liquid and maturing securities, and contingencies to meet the City's future cash flow requirements. 3 FINANCE The City's Investment Portfolio consists of three general tiers which coincide with the primary considerations of prudent investing: 1) The Safety portion of the Portfolio consists of funds invested in the Local Government Investment Pool (LGIP, or State Pool) managed by the State Treasurer, available same- day. This allows for seasonal fluctuations, primarily the April/October inflows of Property Tax and the outflows of debt service and capital projects. 2) The Liquidity portion of the Portfolio consist of demand deposit (checking) accounts at banks which are qualified public depositaries, protected above FDIC-insured balances through the actions of the Washington State Public Deposit Protection Commission (PDPC). 3) The Yield portion of the Portfolio consists of a diversified portfolio of Agencies, Treasuries and/or other authorized investments with staggered maturities of up to five years. Based on analysis of historical cash reserves and budgetary planning, this segment will not be subject to seasonal spending and continues to be safely invested long-term. Current Rates. As of June 30, 2019, the fixed income market is experiencing extreme uncertainty, evidenced by a yield curve that is inverted, meaning 1-year rates are higher than 3- and 5-year rates; the difference between the 1-year Treasury at 1.92% and the 5-year Treasury at 1.76% is a mere 16 basis points. The 30-day yield of the State Pool was at 2.463%. Economic Outlook. The Federal Reserve has raised the rate 25 basis points four times since late 2015. In 2018 the Feds have raised the rate 3 times this year. On December 19'h the Federal Reserve raised its benchmark rate from 2.00% to 2.25%, the highest it has been since October of 2008, but lowered its projections for future increases. Fed funds futures market points to a high probability of monetary policy easing, at cut of 2.25% to 2.00% or 1.75% in July. Strategy Notes. The City of Yakima's Actual % Policy % investments are not typically actively traded, LGIP 22,571,372 29% 100% meaning that no attempt to "buy low and sell Agencies 51,602,000 65% 100% high" or "time the market" is made. Corporates 5,000,000 6% 15% Investments purchased with the intent of 79,173,372 100% providing investment income are intended to be held to maturity, relying on following a prudent course of action for income rather than predicting market direction. No securities were considered, due to prevailing circumstances, to be sold prior to maturity during the last quarter. Debt Activity All debt payments were paid out as scheduled. A comprehensive city-wide debt report is attached with current balances. Interfund Borrowings and Investments Borrowing between funds is temporary in nature, reviewed periodically by staff and Council, amended as circumstances change. All debt payments continue as scheduled. 2 City of Yakima Cash and Investment Summary June 30, 2019 Current Prior Quarter Prior Year Description 6/30/2019 3/31/2019 6/30/2018 Cash Balances on Hand in Banks $ 12,346,008 $ 10,628,760 $ 12,750,859 Local Government Investment Pool (LGIP) 22,571 ,372 26,428,425 9,255,597 Investment Portfolio 56,602,000 52,602,000 53,982,000 Other Investments - - 458,437 Total Investments 79,173,372 79,030,425 63,696,034 Total Cash and Investments $ 91 ,519,380 $ 89,659,185 $ 76,446,893 Beg Balance Purchases Interest Maturities, Calls End Balance Summary of Investment Activity 3/31/2019 & Deposits Reinvested & Withdrawals 6/30/2019 Local Government Investment Pool (LGIP) $ 26,428,425 $ 11 ,000,000 $ 142,947 $ (15,000,000) $ 22,571 ,372 Investment Portfolio 52,602,000 8,000,000 - (4,000,000) 56,602,000 Other Investments - - - - - Total Investments $ 79,030,425 $ 19,000,000 $ 142,947 $ (19,000,000) $ 79,173,372 Page 1 of 7 2019 Q2 TSO spreadsheet City of Yakima Distribution of Cash and Investments as of 6J30/2019 Depository Banks, ........................... $12,346,008 131 .............................................................. .................................. .......................................................................... ........................................ ..................................................................................... ............................................ .............................................................................................. ................................................. ...................................................................................................... .................................................... .............................................................................................................. ........................................................ .................................................................................................................... ........................................................... .......................................................................................................................... .............................................................. ............................................................................................................................... ................................................................. ...................................................................................................................................... .................................................................... ........................................................................................................................................... ...................................................................... ................................................................................................................................................ ......................................................................... .................................................................................................................................................... ........................................................................... ........................................................................................................................................................ ............................................................................. .............................................................................................................................................................. ............................................................................... ................................................................................................................................................................. ................................................................................. .................................................................................................................................................................. ................................................................................... ................................................................................................................................................................... .................................................................................... .................................................................................................................................................................... ...................................................................................... ................................................................................................................................................................... ........................................................................................ .................................................................................................................................................................. ......................................................................................... ................................................................................................................................................................ .......................................................................................... .................................................................................................................................................................. ............................................................................................ ................................................................................................................................................................. ............................................................................................ ................................................................................................................................................................. ............................................................................................... ............................................................................................................................................................... ............................................................................................... ............................................................................................................................................................... ................................................................................................. ............................................................................................................................................................. .................................................................................................. ............................................................................................................................................................ ................................................................................................... .......................................................................................................................................................... .................................................................................................... ......................................................................................................................................................... ..................................................................................................... ........................................................................................................................................................ ...................................................................................................... ..................................................................................................................................................... ....................................................................................................... ..................................................................................................................................................... ........................................................................................................ ................................................................................................................................................. ........................................................................................................ ................................................................................................................................................ ........................................................................................................ rr,rt ............................................................................................................................................... .......................................................................................................... ................................................................................................................................................ ........................................................................................................ ............................................................................................................................................ ........................................................................................................... .......................................................................................................................................... ............................................................................................................ ........................................................................................................................................ ............................................................................................................ ........................................................................................................................................ ............................................................................................................. ...................................................................................................................................... ............................................................................................................. ................................................................................................................................... ......................................................................................................... .............................................................................................................................. ........................................................................................................ .............................................................................................................................. ............................................................................................................ ............................................................................................................................... .............................................................................................................. ............................................................................................................................. .............................................................................................................. ........................................................................................................................... .............................................................................................................. Local Government Investment fool 0 22 571 372 251 Investment Portfolio 0 56 602 000 621 Page 2 of 7 City of Yakima Investment Portfolio - Inventory by Agency June 30, 2019 Expected Days to Call Agency Inv# CUSIP Face Value Price Coupon Yield Settle Maturity Maturity Market Type Moodys S&P Fitch FFCB 1489 3133EGAW5 3,000,000 2,996,247 1.250 1.290 6/3/16 8/19/19 141 2,996,301 Amer Aaa AA+ AAA FICO 1485 31771KAA5 2,119,000 1,999,702 1.460 1.460 10/2/15 9/26/19 179 2,107,555 NC Aaa AA+ AA+ RFCSP 1503 76116FAA5 3,139,000 3,037,265 1.990 1.990 02/14/18 10/15/19 198 3,118,440 NC Aaa AA+ AAA RFCSP 1505 76116FAA5 2,160,000 2,099,535 2.479 2.479 08/17/18 10/15/19 198 2,145,852 NC Aaa AA+ AAA FHLB 1506 3130AA3R7 1,000,000 988,149 1.375 2.680 12/10/18 11/15/19 229 997,182 Amer Aaa AA+ AA+ FHLB 1511 3130ADMS8 1,000,000 996,400 2.150 2.545 3/11/19 2/14/20 320 999,817 Qtry Aaa AA+ AA+ FFCB 1520 3133EKJS6 1,000,000 1,000,000 2.400 2.400 4/29/19 4/29/20 395 1,003,356 NC Aaa AA+ AAA FNMA 1488 3136G3QK4 3,000,000 2,999,970 1.500 1.500 6/3/16 5/22/20 418 2,986,638 Qrty Aaa AA+ AAA FNMA 1494 3136G4GK3 2,010,000 1,995,172 1.350 1.560 12/14/16 7/28/20 485 1,999,715 Qrty Aaa AA+ AAA RFCSP 1493 76116FAE7 3,203,000 2,999,859 1.716 1.716 12/14/16 10/15/20 564 3,120,914 NC Aaa AA+ AAA RFCSP 1502 76116FAE7 2,122,000 1,999,174 2.250 2.250 02/14/18 10/15/20 564 2,067,617 NC Aaa AA+ AAA RFCSP 1495 76116FAG2 2,137,000 1,995,637 1.821 1.821 04/06/17 1/15/21 656 2,072,219 NC Aaa AA+ AAA RFCSP 1499 76116FAG2 1,000,000 945,156 1.730 1.730 10/06/17 1/15/21 656 969,686 NC Aaa AA+ AAA RFCSP 1500 76116FAG2 2,667,000 2,499,062 2.200 2.200 01/25/18 1/15/21 656 2,586,153 NC Aaa AA+ AAA FFCB 1496 3133EGRN7 2,015,000 1,994,713 1.470 1.740 4/6/17 2/17/21 689 2,003,343 1C-NC Aaa AA+ AAA FFCB 1518 3133EKGY6 1,000,000 1,000,000 2.375 2.375 4/15/19 4/15/21 746 1,010,470 NC Aaa AA+ AAA BNY 1521 06406FAB9 1,000,000 989,800 2.050 2.574 4/30/19 5/3/21 764 997,685 NC Al A AA- FNMA 1490 3136G3SJ5 2,000,000 1,995,048 1.500 1.552 6/30/16 6/30/21 822 1,990,172 Qrty Aaa AA+ AAA FNMA 1501 3136G4RD7 1,000,000 997,351 2.300 2.380 2/14/18 7/30/21 852 1,000,382 Qrty Aaa AA+ AAA FHLB 1492 3130A9Z61 2,030,000 1,994,020 1.500 1.880 12/14/16 11/9/21 954 2,012,049 Amer Aaa AA+ AA+ FNMA 1491 3136G3SW6 2,000,000 1,997,896 1.500 1.520 6/30/16 12/30/21 1,005 1,976,630 Qrty Aaa AA+ AAA USB 1515 91159HHP8 1,000,000 997,300 2.625 2.723 3/18/19 1/24/22 1,030 1,010,534 1X Al A+ AA- MSFT 1512 594918BW3 1,000,000 996,920 2.400 2.575 3/15/19 2/6/22 1,043 1,011,860 NC Aaa AAA AA+ FFCB 1498 3133EHYQ0 3,000,000 2,993,640 1.950 2.000 10/6/17 3/14/22 1,079 3,000,045 Amer Aaa AA+ AAA FFCB 1523 3133EKLR5 1,000,000 999,100 2.250 2.281 5/16/19 5/16/22 1,142 1,011,904 NC Aaa AA+ AAA FAMCA 1522 31422BFF2 1,000,000 1,000,000 2.350 2.350 5/9/19 6/1/22 1,158 1,011,480 NC Aaa AA+ AAA FHLB 1509 313383WD9 1,000,000 1,013,146 3.125 2.750 12/19/18 9/9/22 1,258 1,039,885 Amer Aaa AA+ AA+ FFCB 1519 3133EKHN9 1,000,000 997,450 2.330 2.406 4/18/19 10/18/22 1,297 1,015,225 NC Aaa AA+ AAA FHLMC 1510 3134GS6F7 1,000,000 1,000,000 2.720 2.720 3/27/19 3/27/23 1,457 1,004,287 lx Aaa AA+ AAA FHLMC 1517 3134GTGM9 1,000,000 1,000,000 2.550 2.550 4/10/19 4/10/23 1,471 1,004,731 lx Aaa AA+ AAA AAPL 1516 037833AK6 1,000,000 991,000 2.400 2.634 4/8/19 5/3/23 1,494 1,009,681 NC AA1 AA+ - WMT 1513 931142EK5 1,000,000 1,026,800 3.400 2.730 3/15/19 6/26/23 1,548 1,049,747 NC Aa2 AA AA FAMCA 1508 3132X06C0 1,000,000 1,010,972 3.050 2.801 12/19/18 9/19/23 1,633 1,042,691 NC Aaa AA+ AAA FHLB 1507 3130AFK87 1,000,000 1,003,225 3.100 2.933 12/28/18 12/28/23 1,733 1,013,736 Amer Aaa AA+ AA+ FHLMC 1514 3134GS6W0 1,000,000 1,000,000 2.700 2.700 3/27/19 3/27/24 1,823 1,004,225 1X Aaa AA+ AAA Subtotal 35 56,602,000 55,549,711 Avg. 2.03% 56,392,206 LGIP LGIP NA 22,571,372 22,571,372 2.505 2.505 NA NA 1 22,571,372 NC (Grand Totals $79,173,372 $78,121,083 2.14% 537 $78,963,578 Page 3 of 7 2019 Q2 TSO spreadsheet City of Yakima Investment Portfolio by Issuer at 6/30/2019 FHLB, 6,030,000, 8% FICO, 2,119,000, 3% FHLMC, 3,000,000, 4% FNMA, 10,010,000, 13!° FAMCA, 2,000,000, 3% kkkkikkkkkikkikftkkikktf*If liiiiiiiiiiiiiiiiiiitar AAPL, 1,000,000, 1°t° BNY, 1,00 , -0, 1!° MSFT, 1,000,000, 1% - 1,000,000, 1!° WMT, 1,000,000, 1% FFCB 12 016 •00 16f° LGIP, 22,571,372 , 20Y° RFCSP, 16,428,000, 21% Page 4 of 7 ti w a 01 0 0 0 0 cn 0 0 0 C 0 0 0 O 0 C C 0 C C 0 C 0 C C 0 C CJ C C 0 Dec-IS Feb-19 Apr-19 lun-19 Aug-19 Oct In Dec-19 Feb-20 N Apr-20 "'� l Jun-20 rt Aug-20 0 Oct-20 rt /-� O l 1 Dec-zD o r-h Feb-21 `C OJ Apr-21 O Jun-21 W Aug-21 r N " rt Oct-21 C. 3 Dec-21 Q) 0 Feb-22 N Apr-22 - 0 O Aug-22 r j 0 Oct-22 F' LD Dec-22 Feb-23 Apr-23 Jun-23 Aug-23 Oct-23 Dec-23 Feb-24 Apr-24 9 City of Yakima Investment Portfolio- Detail of Activity June 30, 2019 Beginning Additions and Calls and Ending Agency Inv# Face Value Purchases Maturities Face Value Farmer Mac FAMCA 1508 1,000,000 - - 1,000,000 FAMCA 1522 - 1,000,000 1,000,000 FAMCA Total 1,000,000 1,000,000 - 2,000,000 Federal Farm Credit Bureau FFCB 1489 3,000,000 - - 3,000,000 FFCB 1496 2,015,000 - - 2,015,000 FFCB 1498 3,000,000 - - 3,000,000 FFCB 1504 4,000,000 - (4,000,000) - FFCB 1518 1,000,000 1,000,000 FFCB 1519 1,000,000 1,000,000 FFCB 1520 1,000,000 1,000,000 FFCB 1523 1,000,000 1,000,000 FFCB Total 12,015,000 4,000,000 (4,000,000) 12,015,000 Federal Home Loan Bank FHLB 1492 2,030,000 - - 2,030,000 FHLB 1506 1,000,000 - - 1,000,000 FHLB 1507 1,000,000 - - 1,000,000 FHLB 1509 1,000,000 - - 1,000,000 FHLB 1511 1,000,000 - - 1,000,000 FHLB Total 6,030,000 - - 6,030,000 Resolution Funding Corporation RFCSP 1493 3,203,000 - - 3,203,000 RFCSP 1495 2,137,000 - - 2,137,000 RFCSP 1499 1,000,000 - - 1,000,000 RFCSP 1500 2,667,000 - - 2,667,000 RFCSP 1502 2,122,000 - - 2,122,000 RFCSP 1503 3,139,000 - - 3,139,000 RFCSP 1505 2,160,000 - - 2,160,000 RFCSP Total 16,428,000 - - 16,428,000 Federal Home Loan Mortgage Corporation FHLMC 1510 1,000,000 - - 1,000,000 FHLMC 1514 1,000,000 - - 1,000,000 FHLMC 1517 1,000,000 1,000,000 FHLMC Total 2,000,000 1,000,000 - 3,000,000 Federal National Management Association FNMA 1488 3,000,000 - - 3,000,000 FNMA 1490 2,000,000 - - 2,000,000 FNMA 1491 2,000,000 - - 2,000,000 FNMA 1494 2,010,000 - - 2,010,000 FNMA 1501 1,000,000 - - 1,000,000 FNMA Total 10,010,000 - - 10,010,000 Financing Corporation FICO 1485 2,119,000 - - 2,119,000 FICO Total 2,119,000 - - 2,119,000 Corporate Notes AAPL 1516 - 1,000,000 - 1,000,000 MSFT 1512 1,000,000 - - 1,000,000 WMT 1513 1,000,000 - 1,000,000 USB 1514 1,000,000 - 1,000,000 BNY 1521 - 1,000,000 1,000,000 Corporate Total 3,000,000 2,000,000 - 5,000,000 Subtotal 52,602,000 8,000,000 (4,000,000) 56,602,000 Other Investments - - - - LGIP(State Pool) LGIP 26,428,425 11,142,947 (15,000,000) 22,571,372 Other Investment Totals 26,428,425 11,142,947 (15,000,000) 22,571,372 'Grand Totals $ 79,030,425 $ 19,142,947 $ (19,000,000) $ 79,173,372 Page 6 of 7 2019 Q2 TSO spreadsheet City of Yakima Long Tenn Debt Schedule-by Project Group June 30,2019 IIDate Issued Maturity Description Note Amount of Issue Current Balance Payments General Obligation Bonds 9/7/2004 11/1/2019 PFD Convention Center II Refunded 1996 issue $ 4,175,000 $ 335,000 $ - 5/8/2009 5/1/2026 PFD Convention Center III Partial refunding of 2002 issue 4,910,000 2,770,000 340,000 8/28/2009 12/1/2018 PFD Capitol Theatre Tax exempt portion 2,055,000 - - 8/28/2009 12/1/2032 PFD Capitol Theatre Build America Bonds(Taxable) 4,980,000 4,980,000 - 6/19/2003 12/1/2023 Sundome Expansion Deferred Interest-Maturity$25M 1,430,528 317,934 - 8/28/2008 12/1/2021 Fire Apparatus Ladder Truck 760,000 205,000 - 5/8/2009 5/1/2022 Fire Station Remodel Facility 815,000 205,000 665,000 8/28/2008 12/1/2019 Infrastructure Projects Ped crossing,street,infrastructure 2,190,000 - - 5/8/2009 5/1/2022 Downtown Futures Renovate downtown improvements 1,490,000 375,000 115,000 6/20/2013 6/20/2028 Street Project Demonstration(Refunded) Various City street improvements 3,500,000 3,206,304 145,367 6/9/2014 6/1/2024 Street Resurfacing Project Streets improvements 13,140,000 7,345,000 1,295,000 6/17/2014 12/1/2034 Comm Center Move City portion of County GO Bonds 1,716,500 1,395,000 70,000 12/22/2015 12/1/2035 Soccer Complex City portion of SOZO Sports Complex 5,000,000 - - 9/24/2018 12/1/2035 Soccer Complex(Refunded) City portion of SOZO Sports Complex 4,440,127 4,348,996 91,131 9/24/2018 7/1/2035 2018 Aquatic Center YMCA City portion of Aquatic Center 8,009,873 7,996,271 13,602 Subtotal General Obligation Bonds $ 58,612,028 $ 33,479,506 $ R135,100 Certificate of Participation-State of Washington 8/22/2013 6/1/2019 Police Vehicles 74 Take-home vehicles $ 4,173,190 $ (0) $ 769,792 8/22/2013 6/1/2019 Fire Air Packs 90 Air Packs 459,602 (0) 84,779 6/1/2011 12/1/2020 Fire Apparatus Two trucks purchased 576,847 131,948 - 3/19/2013 7/1/2023 Fire Apparatus One truck 310,414 142196 31,323 9/28/2017 6/1/2027 Energy Project LED Street Lighting 921,863 784,893 79,041 9/28/2017 6/1/2027 Fire Aerial&Pump App Fire Aerial 1,268,053 1,079,856 108,745 Subtotal Certificates of Participation $ 7,709,970 $ 2,138,893 $ 1,073,679 Revenue Bonds 5/31/2012 11/1/2023 Wastewater Refunded 2003$10,155,000 issue $ 9,400,000 $ 5,185,000 $ - 6/5/2008 11/1/2027 Wastewater Wastewater system 5,440,000 3,070,000 - 6/5/2008 11/1/2018 Water Refunded 1998 issue 1,883,951 220,000 - 9/4/2004 9/1/2034 Irrigation Irrigation System 5,215,000 3,530,000 - Subtotal Revenue Bonds $ 21,938,951 $ 12,005,000 $ - Intergovernmental Loans 8/14/2009 7/1/2028 PC-08-951-052 2009 Railroad Grade Separation $ 3,000,000 $ 1,485,902 $ 1665,100 5/6/2010 6/1/2034 41000030-0 2010 Railroad Grade Separation 1,149,841 1,019,991 26,951 9/30/2015 6/1/2023 '15 Yak Co SIED-21st Ave/Airport 2015 Yakima Co SIED Loan-21st Ave/Airport 307,000 218,849 51,493 6/1/2016 6/1/2027 '16 Yak Co SIED-SOZO 2016 Yakima Co SIED Loan-SOZO 900,000 757,405 84,107 11/21/2017 6/1/2024 '17 Yak Co SIED-YV Brewing Project 2017 Yakima Co SIED Loan-YV Brewing Project 61,580 61,580 - 7/19/2018 6/1/2029 '18 Yak Co SIED-River Rd. 2018 Yakima Co SIED-River Rd Improvements/Aquatics Center 500,000 500,000 - 6/1/2001 7/1/2021 PW-01-691-071 2001 Fruitavale Neighborhood Sewer 1,466,250 155,250 77,625 9/1/2003 7/1/2023 PW-03-691-027 2003 Naches WTP Improvements 2,694,500 538,900 134,725 6/27/2005 10/1/2025 SRF-04-65104-037 2005 Naches River WTP Filter Rehab 966,772 329,509 - 12/30/2005 7/1/2025 PW-05-691-064 2005 River Road Sewer 2,307,000 745,475 124,246 4/30/2007 7/1/2027 PW-07-962-019 2007 Ultra Violet Disinfection 2,300,000 971,111 121,389 4/15/2009 7/1/2028 PC-08-951-051 2009 New Water Well 2,257,200 1,090,339 121,149 10/10/2011 3/31/2033 41100008 2011 Energy Efficiency 503,558 400,623 - 8/1/2011 7/1/2034 41200019 2012 Industrial Waste Anaerobic 590,350 499,590 - 6/1/2012 6/1/2032 PC-12-951-065 2012 Wastewater Treatment Plan 5,000,000 3,228,950 269,079 10/11/2012 6/1/2037 PC-13-961-059 2012 Industrial Sewer Extensions 2,000,000 1,464,115 81,340 8/5/2013 7/1/2032 PC-13-961-074 2013 Automated Reading System 5,000,000 3,421,053 263,158 12/12/2013 10/1/2034 DM-11-952-038 2013 Design WTP Lagoons 3,514,800 2,811,840 - Subtotal Intergovernmental Loans $ 34,518,851 $ 19,700,482 $ 1,520,362 (Grand Total $ 122,779,800 $ 67,323,881 $ 4,729,141 Page 7 of 7 2019 Q2 TSO spreadsheet