The URL can be used to link to this page

Home My WebLink AboutFS 2015-10-06 Item 2C - Report - 2015 Second Quarter Investment ReportCity of Tukwila Jim Haggerton, Mayor INFORMATIONAL MEMORANDUM TO: Mayor Haggerton Finance and Safety Committee FROM: Peggy McCarthy, Finance Director BY: Vicky Carlsen, Deputy Finance Director DATE: September 30, 2015 SUBJECT: Second Quarter 2015 Cash & Investment Report ISSUE The second quarter Investment Report is included with this memorandum and is discussed below. BACKGROUND City funds are invested to earn a reasonable return while preserving principal and allowing sufficient liquidity to meet the City's operating needs. To achieve these objectives investments are diversified by type, by financial institution, and by maturities in compliance with the City Investment Policy. DISCUSSION Portfolio Components At June 30, 2015, the portfolio totaled $52.5 million comprised of $9.4 million in cash and cash equivalents and $13.1 in longer term investments. The portfolio balance increased by $8.7 million from March 31, 2015 balance of $43.8 million. Property taxes are received in the 2nd and 4th quarters. Additionally, bond proceeds of $5.8 million were received in April for the Arterial Street fund. In April, the City purchased a Federal Home Loan Bank agency investment in the amount of $1 million. It was purchased on April 16, 2015, will mature on March 16, 2018, and has a 1.30% yield to maturity. The City also purchased a Federal Home Loan Mortgage Corp agency investment in May for $1 million with a 1.25% yield to maturity. This investment will mature in May 2018. The investments mentioned above increase the percentage of the City's longer -term investments and increases portfolio yield because of the higher interest rate on the agency. Since they are longer -term investments, one was placed in the contingency fund where the likelihood of accessing the available cash in the next few years is remote. The other agency was placed in the Arterial Street fund. The purchase of agencies increases the diversity of the portfolio. Portfolio Performance The portfolio weighted average yield on June 30, 2015, was .44 %. Considering the portfolio's weighted average maturity was 1.0 years, and the yield on the cash & cash equivalent accounts was .12 %, the portfolio yield of 0.44% is still relatively favorable. The yield has been sustained by the 3.19% average yield on the municipal bond investments, the .40% yield on the certificate of deposits, the .97% yield on the agencies, and the .45% earnings credit on the US Bank depository account. .• INFORMATIONAL MEMO Page 2 Investment income through the second quarter 2015 for cash equivalents and certificates of deposits is $151,241 plus $70,882 of accrued municipal bond and agencies interest for a total of $222,123 against a prorated budget of $93,544 Not included in the portfolio is interest earned from the operating and capital loans to the MPD. The operating loan is being repaid on a monthly basis and will be paid in full by May 2023. Interest earned on the loan through June 2015 is $9,187. The capital loan is being repaid semi - annually and will be paid in full by December 2022. Interest accrued June 2015 is $8,127. Attached to the investment report are amortization schedules for both loans to the MPD. Policy Compliance and Liquidity Analysis As of the end of the 2nd quarter, the portfolio profile is well within the range of all the investment policy parameters. There is currently a healthy mix of investments with a range of maturity dates. Current investments allow for adequate cash flow requirements. Fund Cash & Investment Balances The general fund balance shows an increase of $2.3 million from March 31. As mentioned earlier, property tax revenue is received during the 2nd and 4th quarters. The arterial street fund increased $7.3 million due to receipt of debt proceeds of $5.8 million in April and grant revenue received to reimburse grant related expenditures. Debt service funds show an increase, due to quarterly transfers in from the general fund for debt service payments. Investment Environment Short term interest rates continue to remain low. Economic activity is expanding at a moderate pace, household spending and business fixed investment has also been moderately increasing, however, net exports have been soft. The labor market continues to show improvement with solid job gains and declining unemployment. However, recent global economic and financial developments in China and other emerging markets may restrain economic activity and could put further downward pressure on inflation in the near term. At this time, it is unclear when interest rates will be increased. The portfolio will continue to be managed to take advantage of investment opportunities as they arise. RECOMMENDATION Presentation is for information only. ATTACHMENTS Cash and Investment Report Policy Compliance & Liquidity Analysis Cash and Investment Balances by Fund Treasury Rates and Yield Curves Amortization Schedule — MPD Operating Loan Amortization Schedule — MPD Capital Loan 50 CITY OF TUKWILA CASH & INVESTMENT REPORT June 30, 2015 INVESTMENTS Certificates of Deposit Bank of Washington Certificate of Deposit 4/1/2015 5/1/2016 (a) 250,000 (c) (d) Rating Sound Community Bank Purchase Maturity Term Par Book Yield to Annualized Agency / Issuer Moodys Investment Type Date Date Yrs Value Balance Maturity Return CASH & CASH EQUIVALENTS 0.50% 223 CERTIFICATES OF DEPOSIT -- TOTAL 3.37% 14,501 2017, ave 5.5 years 2.7 US Bank Depository Various (b) $11,848,459 $11,848,459 (e) 28,998 Washington State Convention Aa3 Lodging Tax Bonds 11/30/2010 7/1/2016 Federal Home Loan Mtg Corp 0.45% 4/10/2014 Washington State Treasurer LGIP Investment Pool Various (b) 13,438,497 13,438,497 (f) 0.16% 4,362 Columbia Bank Money market Various (b) 14,128,959 14,128,959 (f) 15,068 US agency 6/6/2014 8/23/2017 3.2 1,000,000 998,775 0.23% 10,008 Total Cash & Cash Equivalents US agency 3/16/2015 3/16/2018 39,415,914 39,415,914 0.12% 48,427 INVESTMENTS Certificates of Deposit Bank of Washington Certificate of Deposit 4/1/2015 5/1/2016 1.1 250,000 250,000 0.08% 499 Sound Community Bank Certificate of Deposit 3/4/2014 3/4/2017 3.0 3,000,000 3,161,242 0.85% 13,365 Northwest Bank Certificate of Deposit 12/20/2014 12/20/2015 1.0 250,000 250,000 0.50% 223 CERTIFICATES OF DEPOSIT -- TOTAL 3.37% 14,501 2017, ave 5.5 years 2.7 3,500,000 3,661,242 0.40% 14,087 Agencies Washington State Convention Aa3 Lodging Tax Bonds 11/30/2010 7/1/2016 Federal Home Loan Mtg Corp US agency 4/10/2014 5/13/2016 2.1 2,000,000 2,001,867 0.50% 10,000 ( FHLMC) UW Biomedical Center Aal Revenue Bonds FNMA US agency 6/6/2014 8/23/2017 3.2 1,000,000 998,775 1.00% 10,008 FHLB US agency 3/16/2015 3/16/2018 3.0 1,000,000 1,000,000 1.27% 12,700 FHLB US agency 4/9/2015 4/9/2018 3.0 1,000,000 1,000,000 1.30% M 13,000 FHLMC US agency 5/29/2015 5/25/2018 3.0 1,000,000 1,000,000 1.25% M 12,500 TOTAL AGENCIES 2.7 6,000,000 6,000,642 0.97% 58,208 Taxable Municipal Bonds City of Marysville, sinking 2014 Al LTGO Refunding 11/23/2010 12/1/2017 5.5 415,000 430,309 3.37% 14,501 2017, ave 5.5 years Washington State Convention Aa3 Lodging Tax Bonds 11/30/2010 7/1/2016 5.6 500,000 502,176 3.60% 18,078 Center Facility UW Biomedical Center Aal Revenue Bonds 12/14/2010 7/1/2017 6.6 500,000 502,655 4.05% 20,358 UW Biomedical Center Aal Revenue Bonds 12/14/2010 7/1/2019 8.6 500,000 503,302 4.70% 23,655 Douglas County, ESD, sinking Aal UTGO 12/23/2010 12/1/2020 8.9 1,135,000 1,147,313 4.55% 52,203 2018 -2020, ave 9 yrs Port of Anacortes Al LTGO 12/17/2010 9/1/2020 9.7 340,000 332,226 5.00% 16,611 TOTAL MUNICIPAL BONDS 7.7 3,390,000 3,417,982 3.19% 109,055 Total Investments 4.0 12,890,000 13,079,866 1.39% 181,350 TOTAL CASH, CASH EQUIVALENTS & INVESTMENTS 1.0 $ 52,305,914 $ 52,495,780 1 0.44% $ 229,777 Current Portfolio Yield (a) On calleable bonds, term is calculated to final maturity even though call date may occur first; term of liquid investments is one day; on sinking fund bonds, average maturity is used to calculate term. (b) No fixed maturity, funds are available within one day. Percent of Cash & Investment Portfolio (c) Yield to Maturity represents average rate for the year for various investment vehicles. Cash (d) Annualized Return represents actual earnings for the fiscal year for bonds. Agen( (e) Represents earning credit from US Bank. City earns interest up to the amount of fees. 125 (f) Represents rate in effect for period ending this report. (g) CD that matured in March 2014 had a higher interest rate than the current CD; which increases the the annualized return above the current CD rates. (h) Annualized Return represents actual earnings through current reporting period Money Market 29% LGIP 28% 7`0 51 CITY OF TUKWILA Policy Compliance & Liquidity Analysis CASH & INVESTMENT REPORT June 30, 2015 Liauiditv Reauirements and Funds Available for Investing: Funds immediately available $ 39,415,914 Restrictions & designations: Operating liquidity (a) 14,000,000 Liquidity threshold 14,000,000 Funds available for longer term investing 25,415,914 (a) Represents largest one month decline in portfolio balance over the most recent 36 month period doubled; or the equivalent of a 100% cushion. As of Report Date Portfolio Available Available Available in Financial Institution Diversification Portfolio Within 1 Year Within 5 5 - 10 Years Liquidity Analysis & Maturity Diversification Amount 22.6% Years Yes Funds immediately available $ 39,415,914 $ 39,415,914 $ 39,415,914 Yes Fixed Maturity Investments, maturing in: 14,128,959 26.9% 50.0% Yes 0 -90 days after Report Date - 6.0% 50.0% Yes 91 -180 days after Report Date 250,000 18.9% 50.0% Yes Investments maturing in 1 year or less 2,501,867 2,501,867 2,501,867 Investments maturing in 1 -3 years 8,595,156 8,595,156 Policy Investments maturing in 3 -5 years 503,302 % of Total 503,302 Met? Investments maturing in 5 -7 years 1,479,540 22.6% insured by PDPC 1,479,540 Investments maturing in 7 -10 years - 25.6% 75.0% - Investments maturing in more than 1 year 10,577,998 26.9% insured by PDPC Yes and less than 10 years. 3,661,242 7.0% insured by PDPC Yes TOTALS $ 52,495,780 $ 41,917,782 $51,016,240 $ 1,479,540 Municipal Bonds 3,417,982 80% 97% 4% Total 52,495,780 Liauiditv Reauirements and Funds Available for Investing: Funds immediately available $ 39,415,914 Restrictions & designations: Operating liquidity (a) 14,000,000 Liquidity threshold 14,000,000 Funds available for longer term investing 25,415,914 (a) Represents largest one month decline in portfolio balance over the most recent 36 month period doubled; or the equivalent of a 100% cushion. Portfolio POLICY Policy Financial Institution Diversification Amount % of Total MAXIMUM Met? US Bank $ 11,848,459 22.6% 50.0% Yes Washington State Treasurer 13,438,497 25.6% 75.0% Yes Columbia Bank 14,128,959 26.9% 50.0% Yes Sound Community Bank 3,161,242 6.0% 50.0% Yes Other financial institutions 9,918,624 18.9% 50.0% Yes Total $ 52,495,780 100.0% Portfolio POLICY Policy Investment Mix Amount % of Total MAXIMUM Met? Depository 11,848,459 22.6% insured by PDPC Yes State Investment Pool 13,438,497 25.6% 75.0% Yes Money market 14,128,959 26.9% insured by PDPC Yes Certificate of Deposit 3,661,242 7.0% insured by PDPC Yes US Agency 6,000,642 11.4% 75.0% Yes Municipal Bonds 3,417,982 6.5% no limit specified in policy Yes Total 52,495,780 100.0% Weighted Average Maturites: Years Performance Analysis Certificates of deposit 2.7 Current portfolio yield 0.44% Benchmarks: Municipal bonds 7.7 6 month treasury 0.27% Total Investments 4.0 2 year treasury 0.74% Total Portfolio 1.0 Local Govt Invst Pool (f) 0.16% POLICY MAXIMUM 3.5 Policy Met? Yes Note: Cash and cash equivalents are available within one day and are factored into the Total Portfolio weighted average maturity. 52 CITY OF TUKWILA Cash &Unvestmnemt Balances By Fund and Fund Group CASH & INVESTMENT REPORT June 30, 2015 Funds not included in the Grand Total are the fiduciary funds and market value adjustment. However, these balances Nn,4uu.onr are included m the investment Balances Balances Balances Balances Balances Fund Group 6/30/15 6/30/14 6/30n3 6/30/12 e30/11 General uoo GENERAL 8211831 General Total 8,211,831 6,545,525 944,197 3,277,604 3,181,257 _'Special Revenue 101 HorsmworsL TAX 378.109 433.781 440.090 453.083 695.e76 105 oomnmaswov 5.777.260 1.365.235 1.0*5.854 919.276 670.123 107 FIRE EQUIP. CUM. RESERVE 875,506 588,392 4.595.453 10.269.119 109 SEIZURE 48952 1,457,930 1 4 Special Revenue Total -DRUG 6,204,321 8,438,734 3,535,603 7,425,741 13,091,825 OoLuServioo 000 DEBT SERVICE e08.61* ' 206 L.|.GUxnAwTEE 669.147 e68.997 ' 207 LIMITED TAX Go. BONDS 1000 - 13.246 cun LIMITED TAX Go. BONDS 2noo ' rn 70 ooe LIMITED TAX a». BONDS 2ono 1 1 3.012.901 3,302,738 (1.592) 210 LIMITED TAX o.o. REFUNDING eouo 1e5 1e5 (on) 000 (1.852) 211 LIMITED TAX o.u. REFUNDING uono 315.*1e 416 (84) 5.105 (18.148) 212 Lrao SCORE BONDS u 1.453 126 ror (146) 213 cTan SCORE a/o AMER BONDS - oos 616 (1.392) 214 Lruuuo1n Series x 192.676 5.e10 (614) ar or 215 LrGOou10 Series a ' 4.612 4.611 17 216 VALLEY uom Refunding bonds :m10 115.194 74 1* 14 81* 217 LIMITED TAX oO BONDS REFUNDING 203,039 214 (xyN ' mm LID #33 120,971 42,591 Debt Service Total 1,825,256 719,850 3,017,595 3,314,751 (89947) Capital Project 103 STREET 1.022.252 1.365.235 1.045.854 919.276 670.123 104 ARTERIAL STREET 7,338,446 875,506 588,392 4,595,453 10.269.119 301 LAwoAuo esom PARK osvLpmmr 1,565,47* 1.159,087 1,088.513 1,665,327 4.787.800 uuc FACILITY REPLACEMENT 1.432.223 1.967.648 2.103.024 2.01e.0e9 2.051.032 303 GENERAL sOVenwMNTIMPROVEMENTS 453.915 404.809 804.988 584.287 1,310.709 304 FIRE IMPACT FEeS sones2 438,317 359,809 316591 165 Capital Project Total 12,333,271 6,210,602 5,990,581 10,100,032 19,254,115 401 wxrsR 5,007,023 5.698.*14 5.306.16e o.ye*./*o 4.846.612 *ox aowen 5,386.807 3�31,464 1.917.966 1.219,446 1.605,340 411 FOSTER GOLF COURSE 785,170 371.314 218.e7e (143,232) (243.075 412 SURFACE WATER 1399569 3,066,715 3,433,716 3,126,965 3,333,516 Enterprise Total 12,596 ' 113 12,586,398 10,899,416 8,215,773 9,555,929 502 |maunxmCs *.418.574 5.491.187 6,559,638 6,502,805 5,953,383 INSURANCE-LEOFF1 856,012 _ 910,664 1,839,349 1,888,703 1,706,648 Internal Service Total *,902.081 10,884,755 12,797,632 12,043,850 11,253,154 Grand Total 51.072.873 45,344,377,751 56,327,333 Funds not included in the Grand Total are the fiduciary funds and market value adjustment. However, these balances Nn,4uu.onr are included m the investment CITY OF TUKWILA Treasury Rates and Yield Curves CASH & INVESTMENT REPORT June 30, 2015 Ratac at . h ina An gni c; 3mo 6mo 1 Yr 2Yr 3Yr 5Yr 10Yr 30Yr 0.06% 0.27% 0.39% 0.74% 1.05% 1.53% 2.20% 2.97% Source: US Department of the Treasury 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% om Rate % Change Change 0.02% 33% 0.20% 74% 0.28% 72% 0.27% 36% 0.17% 16% -0.09% -6% -0.33% -15% -0.37% -12% Rates at June 30, 2014 3mo 6mo 1Yr 2Yr 3Yr 5Yr 10Yr 30Yr Comparison of Treasury Rates 0.04% 0.07% 0.11% 0.47% 0.88% 1.62% 2.53% 3.34% MPD Operating Loan - through end of 2015 only Period Accumulated Interest (Date) Beg Bal Funding Payments Interest End Bal Interest Principal Pmt Pmt 10/1/2011 $ - $ 191,294 $ $ 319 $ 191,613 $ 319 11/1/2011 191,612.82 - 319.35 191,932.18 638.18 12/1/2011 191,932.18 - 319.89 192,252.07 958.07 1/1/2012 192,252.07 - - 320.42 192,572.49 1,278.49 2/1/2012 192,572.49 - - 320.95 192,893.44 1,599.44 3/1/2012 192,893.44 - - 321.49 193,214.93 1,920.93 4/1/2012 193,214.93 225,000.00 697.02 418,911.95 2,617.95 5/1/2012 418,911.95 - 698.19 419,610.14 3,316.14 6/1/2012 419,610.14 699.35 420,309.49 4,015.49 7/1/2012 420,309.49 700.52 421,010.01 4,716.01 8/1/2012 421,010.01 701.68 421,711.69 5,417.69 9/1/2012 421,711.69 - - 702.85 422,414.54 6,120.54 10/1/2012 422,414.54 433,706.00 - 1,426.87 857,547.41 7,547.41 11/1/2012 857,547.41 - 1,429.25 858,976.66 8,976.66 12/1/2012 858,976.66 - 1,431.63 860,408.28 10,408.28 1/1/2013 860,408.28 250,000.00 1,850.68 1,112,258.96 12,258.96 2/1/2013 1,112,258.96 - 1,853.76 1,114,112.73 14,112.73 C 3/1/2013 1,114,112.73 1,856.85 1,115,969.58 15, 969.58 4/1/2013 1,115,969.58 - 1,859.95 1,117,829.53 17,829.53 Prior 5/1/2013 1,117,829.53 - 19,692.58 1,863.05 1,100,000.00 19,692.58 19,692.58 r 6/1/2013 1,100,000.00 - 10,121.48 1,833.33 1,091,711.85 21,525.91 8,288.15 1,833.33 7/1/2013 1,091,711.85 - 10,121.48 1,819.52 1,083,409.89 23,345.43 8,301.96 1,819.52 8/1/2013 1,083,409.89 - 10,121.48 1,805.68 1,075,094.10 25,151.12 8,315.80 1,805.68 9/1/2013 1,075,094.10 - 10,121.48 1,791.82 1,066,764.44 26,942.94 8,329.66 1,791.82 10/1 /2013 1,066,764.44 - 10,121.48 1,777.94 1,058,420.90 28,720.88 8,343.54 1,777.94 11/1/2013 1,058,420.90 - 10,121.48 1,764.03 1,050,063.46 30,484.92 8,357.45 1,764.03 12/1/2013 1,050,063.46 - 10,121.48 1,750.11 1,041,692.08 32,235.02 8,371.37 1,750.11 1/1/2014 1,041,692.08 - 10,121.48 1,736.15 1,033,306.76 33,971.18 8,385.33 1,736.15 2/1/2014 1,033,306.76 - 10,121.48 1,722.18 1,024,907.45 35,693.35 8,399.30 1,722.18 3/1/2014 1,024,907.45 10,121.48 1,708.18 1,016,494.15 37,401.53 8,413.30 1,708.18 j 4/1/2014 1,016,494.15 10,121.48 1,694.16 1,008,066.83 39,095.69 8,427.32 1,694.16 5/1/2014 1,008,066.83 10,121.48 1,680.11 999,625.46 40,775.80 8,441.37 1,680.11 6/1/2014 999,625.46 10,121.48 1,666.04 991,170.02 42,441.84 8,455.44 1,666.04 7/1/2014 991,170.02 - 10,121.48 1,651.95 982,700.49 44,093.79 8,469.53 1,651.95 8/1/2014 982,700.49 10,121.48 1,637.83 974,216.85 45,731.63 8,483.65 1,637.83 i 9/1/2014 974,216.85 10,121.48 1,623.69 965,719.06 47,355.32 8,497.79 1,623.69 10/1/2014 965,719.06 10,121.48 1,609.53 957,207.11 48,964.85 8,511.95 1,609.53 11/1/2014 957,207.11 10,121.48 1,595.35 948,680.98 50,560.20 8,526.13 1,595.35 12/1/2014 948,680.98 10,121.48 1,581.13 940,140.63 52,141.33 8,540.34 1,581.14 1/1/2015 940,140.63 10,121.48 1,566.90 931,586.06 53,708.24 8,554.58 1,566.90 2/1/2015 931,586.06 10,121.48 1,552.64 923,017.22 55,260.88 8,568.84 1,552.64 3/1/2015 923,017.22 - 10,121.48 1,538.36 914,434.10 56,799.24 8,583.12 1,538.36 4/1/2015 914,434.10 10,121.48 1,524.06 905,836.68 58,323.30 8,597.42 1,524.06 5/1/2015 905,836.68 10,121.48 1,509.73 897,224.93 59,833.03 8,611.75 1,509.73 Current 6/1/2015 897,224.93 10,121.48 1,495.37 888,598.82 61,328.40 8,626.11 1,495.37 7/1/2015 888,598.82 10,121.48 1,481.00 879,958.34 62,809.40 8,640.48 1,481.00 8/1/2015 879,958.34 - 10,121.48 1,466.60 871,303.46 64,276.00 8,654.88 1,466.60 9/1/2015 871,303.46 - 10,121.48 1,452.17 862,634.15 65,728.17 8,669.31 1,452.17 10/1/2015 862,634.15 - 10,121.48 1,437.72 853,950.39 67,165.89 8,683.76 1,437.72 11/1/2015 853,950.39 - 10,121.48 1,423.25 845,252.16 68,589.14 8,698.23 1,423.25 12/1/2015 845,252.16 - 10,121.48 1,408.75 836,539.44 69,997.90 8,712.73 1,408.75 55 Capital Loan to MPD Repayment Schedule MPD Capital Loan PAYMENT BEGINNING PRINCIPAL INTEREST INTEREST DUE DATE BALANCE PAYMENT RATE PAYMENT ENDING 2/1/2013 Amount loaned to the MPD 1,000,000.00 6/1/2013 1,000,000.00 (50,731.67) 0.02 (5,833.33) 949,268.33 12/1/2013 949,268.33 (48,258.90) 0.02 (8,306.10) 901,009.43 - Prior 6/1/2014 901,009.43 (48,681.17) 0.02 (7,883.83) 852,328.26 12/1/2014 (49,107_.13) (7,457.87) 803,221.13 6/1/2015 _ _852,32_8.26_ 803,221.13 _ _ _ _ —(49-,-5-36-8-2) _ _ _0.02_ 0.02 _ _ _ (7,028.18) _ 753,684.31 _ _ Current 12/1/2015 753,684.31 (49,970.26) 0.02 (6,594.74) 703,714.05 6/1/2016 703,714.05 (46,537.07) 0.03 (10,027.93) 657,176.98 12/1/2016 657,176.98 (47,200.23) 0.03 (9,364.77) 609,976.75 6/1/2017 609,976.75 (47,872.83) 0.03 (8,692.17) 562,103.92 12/1/2017 562,103.92 (48,555.02) 0.03 (8,009.98) 513,548.90 6/1/2018 513,548.90 (49,246.93) 0.03 (7,318.07) 464,301.97 12/1/2018 464,301.97 (49,948.70) 0.03 (6,616.30) 414,353.27 6/1/2019 414,353.27 (48,277.93) 0.04 (8,287.07) 366,075.34 12/1/2019 366,075.34 (49,243.49) 0.04 (7,321.51) 316,831.85 6/1/2020 316,831.85 (50,228.36) 0.04 (6,336.64) 266,603.49 12/1/2020 266,603.49 (51,232.93) 0.04 (5,332.07) 215,370.56 6/1/2021 215,370.56 (52,257.59) 0.04 (4,307.41) 163,112.97 12/1/2021 163,112.97 (53,302.74) 0.04 (3,262.26) 109,810.23 6/1/2022 109,810.23 (54,368.80.) 0.04 (2,196.20) 55,441.43 12/1/2022 55,441.43 (55,441.43) 0.04 (1,108.83) 0.00 (131,285.26) 56