Loading...
05 - February 2017TOTAL VALUE OF YOUR ACCOUNTS (as of 2/28/17) Includes Accrued Interest $16,139,645.92 CLIENT STATEMENT For the Period February 1-28, 2017 660 - 110000 - 095 -1 - 0 STATEMENT PACKAGE FOR: CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Morgan Stanley Smith Barney LLC. Member SIPC. Access Your Account s Online: www.morganstanley.com/online Your Financial Advisor Team BAGWELL/BRIDGES/TAYLOR 407-849-4700 Your Branch 201 E. PINE ST 11TH FL ORLANDO, FL 32801 Telephone:407-849-4700 ; Alt. Phone:800-869-0007 ; Fax:407-849-4797 Client Service Center (24 Hours a Day; 7 Days a Week): 800-869-3326 00 0 1 0 2 6 0 2 A B 0 . 4 0 0 0 2 T R 0 0 0 0 5 M S A D D 2 5 1 0 0 0 0 0 0 #B W N J G W M CI T Y O F A T L A N T I C B E A C H C/ O R U S S E L L C A F F E Y 80 0 S E M I N O L E R O A D AT L A N T I C B C H F L 3 2 2 3 3 - 5 4 4 4 00 1 0 2 6 M S A D D 2 5 1 Standard Disclosures CLIENT STATEMENT For the Period February 1-28, 2017 Page 2 of 20 The following Disclosures are applicable to the enclosed statement(s). Expanded Disclosures are attached to your most recent June and December statement (or your first Statement if you have not received a statement for those months). The Expanded Disclosures are also available by selecting Account Documents when you log on to www.morganstanley.com/online or, call 800-869-3326. Questions? Questions regarding your account may be directed to your Financial Advisor or the Branch Manager of the office where you maintain your account, using the contact information on the statement cover page, or the Client Service Center at (800) 869-3326. Errors and Inquiries Be sure to review your statement promptly, and immediately address any concerns regarding entries that you do not understand or believe were made in error by contacting the Branch Manager of the office where you maintain your account. Oral communications regarding any inaccuracy or discrepancy in this statement should be re-confirmed in writing to further protect your rights, including rights under the Securities Investor Protection Act (SIPA). Your statement will be deemed correct unless we receive a written inquiry of a suspected error. See your account documentation for special rules regarding your rights and responsibilities with respect to erroneous electronic fund transfers, including a description of the transfers covered. For concerns or complaints, contact our Client Relations Department at (866) 227-2256. Senior Investor Helpline For concerns or complaints, Senior Investors may contact our Firm by calling (800) 280-4534. Availability of Free Credit Balances and Financial Statements Under the customer protection rules of the SEC [17 CFR §240.15c3-3], we may use funds comprising free credit balances carried for customer accounts here, provided that these funds are payable to customers on demand (i.e., are free of a lien or right of set-off in our favor or on behalf of some third party to whom you have given control). A financial statement of this organization is available for your personal inspection at its offices, or a copy will be mailed to you upon your written request. Listed Options Information with respect to commissions and other charges related to the execution of options transactions has been included in confirmations of such transactions previously furnished to you and such information will be made available to you promptly at your request. Promptly advise us of any material change in your investment objectives or financial situation. Important Information if you are a Margin Customer (not available for certain retirement accounts) If you have margin privileges, you may borrow money from us in exchange for pledging assets in your accounts as collateral for any outstanding margin loan. The amount you may borrow is based on the value of the eligible securities in your margin accounts. If a security has eligible shares, the number of shares pledged as collateral will be indicated below the position. Margin Interest Charges We calculate interest charges on margin loans as follows: (1) multiply the applicable margin interest rate by the daily close of business net settled debit balance, and (2) divide by 360 (days). Margin interest accrues daily throughout the month and is added to your debit balance at month-end. The month-end interest charge is the sum of the daily accrued interest calculations for the month. We add the accrued interest to your debit balance and start a new calculation each time the applicable interest rate changes and at the close of every statement month. For interest rate information, log into your Morgan Stanley account at morganstanley.com/online. Select your account with a Margin agreement and click Interest Rates for more information. Information regarding Special Memorandum Account If you have a Margin Account, this is a combined statement of your Margin Account and Special Memorandum Account maintained for you under Section 220.5 of Regulation T issued by the Board of Governors of the Federal Reserve System. The permanent record of the Special Memorandum Account as required by Regulation T is available for your inspection at your request. Important Information About Auction Rate Securities For certain Auction Rate Securities there is no or limited liquidity. Therefore, the price(s) for these Auction Rate Securities are indicated by N/A (not available). There can be no assurance that a successful auction will occur or that a secondary market exists or will develop for a particular security. Structured Investments Risks and Considerations Structured Investments (Structured Products) are complex products and may be subject to special risks. Investors should consider the concentration risk of owning the related security and their total exposure to any underlying asset. Structured Investments, which may appear in various statement product categories and are identified on the Position Description Details line as “Asset Class: Struct Inv,” may not perform in a manner consistent with the statement product category where they appear and therefore may not satisfy portfolio asset allocation needs for that category. For information on the risks and conflicts of interest related to Structured Investments generally, log in to Morgan Stanley Online and go to www.morganstanley.com/structuredproductsrisksandconflicts. Security Measures This statement features several embedded security elements to safeguard its authenticity. One is a unique security mark-a blue rectangle printed in heat-sensitive ink on the back of every page. When exposed to warmth, the blue rectangle will disappear, and then reappear. SIPC Protection We are a member of Securities Investor Protection Corporation (SIPC), which protects securities of its customers up to $500,000 (including $250,000 for claims for cash). An explanatory brochure is available upon request or at www.sipc.org. Losses due to market fluctuation are not protected by SIPC and assets not held with us may not be covered by SIPC protection. To obtain information about SIPC, including an explanatory SIPC brochure, contact SIPC at 1-202-371-8300 or visit www.sipc.org. Transaction Dates and Conditions Upon written request, we will furnish the date and time of a transaction and the name of the other party to a transaction. We and/or our affiliates may accept benefits that constitute payment for order flow. Details regarding these benefits and the source and amount of any other remuneration received or to be received by us in connection with any transaction will be furnished upon written request. Equity Research Ratings Definitions and Global Investment Manager Analysis Status Some equity securities may have research ratings from Morgan Stanley & Co. LLC or Morningstar, Inc. Research ratings are the research providers’ opinions and not representations or guarantees of performance. For more information about each research provider's rating system, see the Research Ratings on your most recent June or December statement (or your first statement if you have not received a statement for those months), go to www.morganstanley.com/online or refer to the research provider’s research report. Research reports contain more complete information concerning the analyst's views and you should read the entire research report and not infer its contents from the rating alone. If your account contains an advisory component or is an advisory account, a GIMA status will apply. Credit Ratings from Moody's Investors Service and Standard & Poor's The credit rating from Moody's Investors Service and Standard & Poor's may be shown for certain securities. All credit ratings represent the opinions of the provider and are not representations or guarantees of performance. Your Financial Advisor will be pleased to provide you with further information or assistance in interpreting these credit ratings. Revised 01/2017 CONSOLIDATED SUMMARY PERSONAL ACCOUNTS RETIREMENT ACCOUNTS EDUCATION ACCOUNTS TRUST ACCOUNTS BUSINESS ACCOUNTS Consulting and Evaluation Services Active Assets Account 660-110000-095 CHANGE IN VALUE OF YOUR ACCOUNTS (includes accrued interest) This Period (2/1/17-2/28/17) This Year (1/1/17-2/28/17) TOTAL BEGINNING VALUE $16,108,323.86 $16,100,433.59 Credits 1,839.01 1,839.01 Debits —(5,244.62) Security Transfers —— Net Credits/Debits/Transfers $1,839.01 $(3,405.61) Change in Value 29,483.05 42,617.94 TOTAL ENDING VALUE $16,139,645.92 $16,139,645.92 Net Credits / Debits include investment advisory fees as applicable. See Activity section for details. MARKET VALUE OVER TIME The below chart displays the most recent thirteen months of Market Value. CLIENT STATEMENT For the Period February 1-28, 2017 Account Summary CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB 0 10 20 30 40 50 ($ ) M i l l i o n s This chart does not reflect corrections to Market Value made subsequent to the dates depicted. It may exclude transactions in Annuities or positions where we are not the custodian, which could delay the reporting of Market Value. 2016 2017 Page 3 of 20 ASSET ALLOCATION (includes accrued interest) Cash FI & Pref (10) 0 10 20 30 40 ($ ) M i l l i o n s Market Value Percentage Cash $(37,971.90)(0.24) Fixed Income & Preferreds 16,177,617.82 100.24 TOTAL VALUE $16,139,645.92 100.00% FDIC rules apply and Bank Deposits are eligible for FDIC insurance but are not covered by SIPC. Cash and securities (including MMFs) are eligible for SIPC coverage. See Expanded Disclosures. Values may include assets externally held, which are provided to you as a courtesy, and may not be covered by SIPC. For additional information, refer to the corresponding section of this statement. This asset allocation represents holdings on a trade date basis, and projected settled Cash/ BDP and MMF balances. These classifications do not constitute a recommendation and may differ from the classification of instruments for regulatory or tax purposes. 00 1 0 2 6 M S A D D 2 5 1 Account Summary CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 4 of 20 BALANCE SHEET (^ includes accrued interest) Last Period (as of 1/31/17) This Period (as of 2/28/17) Cash, BDP, MMFs $16,113,568.48 $293,877.00 Corporate Fixed Income^—1,964,529.71 Government Securities^—14,213,088.11 Net Unsettled Purchases/Sales —(331,848.90) Total Assets $16,113,568.48 $16,139,645.92 Cash, BDP, MMFs (Debit)(5,244.62)— Total Liabilities (outstanding balance)$(5,244.62)— TOTAL VALUE $16,108,323.86 $16,139,645.92 CASH FLOW This Period (2/1/17-2/28/17) This Year (1/1/17-2/28/17) OPENING CASH, BDP, MMFs $16,108,323.86 $4,239,844.93 Purchases (17,775,738.44)(17,775,738.44) Dividend Reinvestments —(22,669.13) Sales and Redemptions 1,585,849.85 13,459,396.96 Net Unsettled Purch/Sales 331,848.90 331,848.90 Income and Distributions 41,753.82 64,599.39 Total Investment Related Activity $(15,816,285.87)$(3,942,562.32) Other Credits 1,839.01 1,839.01 Other Debits —(5,244.62) Total Cash Related Activity $1,839.01 $(3,405.61) Total Card/Check Activity —— CLOSING CASH, BDP, MMFs $293,877.00 $293,877.00 INCOME AND DISTRIBUTION SUMMARY This Period (2/1/17-2/28/17) This Year (1/1/17-2/28/17) Other Dividends $17,776.02 $22,405.60 Interest 23,977.80 24,011.77 Total Taxable Income And Distributions $41,753.82 $46,417.37 Total Tax-Exempt Income —— TOTAL INCOME AND DISTRIBUTIONS $41,753.82 $46,417.37 Taxable and tax exempt income classifications are based on the characteristics of the underlying securities and not the taxable status of the account. GAIN/(LOSS) SUMMARY Realized This Period (2/1/17-2/28/17) Realized This Year (1/1/17-2/28/17) Unrealized Inception to Date (as of 2/28/17) Short-Term Gain $600.28 $2,934.82 $2,519.48 Short-Term (Loss)(535.91)(1,442.56)(3,501.29) Total Short-Term $64.37 $1,492.26 $(981.81) Long-Term Gain —10,957.26 — Long-Term (Loss)—(94,258.69)— Total Long-Term —$(83,301.43)— TOTAL GAIN/(LOSS)$64.37 $(81,809.17)$(981.81) The Gain/(Loss) Summary, which may change due to basis adjustments, is provided for informational purposes and should not be used for tax preparation. Refer to Gain/(Loss) in the Expanded Disclosures. Account Summary CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 5 of 20 ADDITIONAL ACCOUNT INFORMATION Category This Period (2/1/17-2/28/17) This Year (1/1/17-2/28/17)Category This Period (2/1/17-2/28/17) This Year (1/1/17-2/28/17) Accrued Interest Paid $37,765.32 $37,765.32 Accrued Interest Received 2,074.84 2,074.84 U.S. Treasury Coupon Interest 23,000.00 23,000.00 00 1 0 2 6 M S A D D 2 5 1 Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 Investment Objectives †: Capital Appreciation,Income Investment Advisory Account Manager:GALLIARD CAPITAL MANAGEMENT, INC. CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 6 of 20 † Inform us if your investment objectives, as defined in the Expanded Disclosures, change. HOLDINGS This section reflects positions purchased/sold on a trade date basis. "Market Value" and "Unrealized Gain/(Loss)" may not reflect the value that could be obtained in the market. Fixed Income securities are sorted by maturity or pre-refunding date, and alphabetically within date. Estimated Annual Income a) is calculated on a pre-tax basis, b) does not include any reduction for applicable non-US withholding taxes, c) may include return of principal or capital gains which could overstate such estimates, and d) for securities that have a defined maturity date within the next 12 months, is reflected only through maturity date. Actual income or yield may be lower or higher than the estimates. Current yield reflects the income generated by an investment, and does not reflect changes in its price. Structured Investments, identified on the Position Description Details line as "Asset Class: Struct Inv," may appear in various statement product categories. When displayed, the accrued interest, annual income and current yield for those with a contingent income feature (e.g., Range Accrual Notes or Contingent Income Notes) are estimates and assume specified accrual conditions are met during the relevant period and payment in full of all contingent interest. For Floating Rate Securities, the accrued interest, annual income and current yield are estimates based on the current floating coupon rate and may not reflect historic rates within the accrual period. CASH, BANK DEPOSIT PROGRAM AND MONEY MARKET FUNDS Cash, Bank Deposit Program, and Money Market Funds are generally displayed on a settlement date basis. You have the right to instruct us to liquidate your bank deposit balance(s) or shares of any money market fund balance(s) at any time and have the proceeds of such liquidation remitted to you. Estimated Annual Income, Accrued Interest, and APY% will only be displayed for fully settled positions. Description Market Value 7-Day Current Yield %Est Ann Income APY % CASH $112,102.55 MORGAN STANLEY PRIVATE BANK NA #181,774.00 —18.00 0.010 MORGAN STANLEY BANK N.A. #0.45 ——0.010 BANK DEPOSITS $181,774.45 $18.00 Percentage of Holdings Market Value Est Ann Income CASH, BDP, AND MMFs $293,877.00 $18.00 NET UNSETTLED PURCHASES/SALES $(331,848.90) CASH, BDP, AND MMFs (PROJECTED SETTLED BALANCE)(0.24)%$(37,971.90) # Bank Deposits are held at Morgan Stanley Bank, N.A. and/or Morgan Stanley Private Bank, National Association, affiliates of Morgan Stanley Smith Barney LLC and each a national bank and FDIC member. The “Projected Settled Balance” includes accrued interest on deposits and reflects the impact of unsettled purchases/sales. Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 7 of 20 CORPORATE FIXED INCOME CORPORATE BONDS Security Description Trade Date Face Value Orig Unit Cost Adj Unit Cost Unit Price Orig Total Cost Adj Total Cost Market Value Unrealized Gain/(Loss) Est Ann Income Accrued Interest Current Yield % SOUTHERN CALIF GAS CO Coupon Rate 5.450%; Matures 04/15/2018; CUSIP 842434CD2 2/7/17 30,000.000 $104.372 $104.168 $104.097 $31,311.60 $31,250.41 $31,229.10 $(21.31)ST $1,635.00 $604.04 5.23 Int. Semi-Annually Apr/Oct 15; Yield to Maturity 1.772%; Moody AA2 S&P A+; Issued 10/17/03; Asset Class: FI & Pref BANK OF AMERICA NA Coupon Rate 5.650%; Matures 05/01/2018; CUSIP 06051GDX4 2/24/17 30,000.000 104.534 104.534 104.379 31,360.20 31,360.20 31,313.70 (46.50)ST 1,695.00 550.87 5.41 Int. Semi-Annually May/Nov 01; Yield to Maturity 1.862%; Moody BAA1 S&P BBB+; Issued 05/02/08; Asset Class: FI & Pref TRAVELERS COS INC Coupon Rate 5.800%; Matures 05/15/2018; CUSIP 89417EAE9 2/6/17 30,000.000 105.317 105.085 104.946 31,595.10 31,525.58 31,483.80 (41.78)ST 1,740.00 497.83 5.52 Int. Semi-Annually May/Nov 15; Yield to Maturity 1.665%; Moody A2 S&P A; Issued 05/13/08; Asset Class: FI & Pref UNITED DOMINION REALTY TRUST, INC. Coupon Rate 4.250%; Matures 06/01/2018; CUSIP 91019PCS9 2/24/17 25,000.000 103.185 103.185 102.937 25,796.25 25,796.25 25,734.25 (62.00)ST 1,063.00 256.77 4.13 Int. Semi-Annually Jun/Dec 01; Yield to Maturity 1.875%; Moody BAA1 S&P BBB+; Issued 05/23/11; Asset Class: FI & Pref CARDINAL HEALTH INC Coupon Rate 1.950%; Matures 06/15/2018; CUSIP 14149YBC1 2/13/17 30,000.000 100.324 100.315 100.382 30,097.20 30,094.58 30,114.60 20.02 ST 585.00 118.62 1.94 Int. Semi-Annually Jun/Dec 15; Yield to Maturity 1.650%; Moody BAA2 S&P A-; Issued 06/23/15; Asset Class: FI & Pref MARSH & MCLENNAN COS INC Coupon Rate 2.550%; Matures 10/15/2018; CUSIP 571748AT9 2/1/17 30,000.000 101.097 101.056 101.291 30,329.10 30,316.81 30,387.30 70.49 ST 765.00 282.62 2.51 Int. Semi-Annually Apr/Oct 15; Callable $100.00 on 09/15/18; Yield to Call 1.701%; Moody BAA1 S&P A-; Issued 09/27/13; Asset Class: FI & Pref BOSTON PROPERTIES LP Coupon Rate 3.700%; Matures 11/15/2018; CUSIP 10112RAT1 2/7/17 25,000.000 102.908 102.822 102.887 25,727.00 25,705.53 25,721.75 16.22 ST 925.00 264.65 3.59 Int. Semi-Annually May/Nov 15; Callable $100.00 on 08/15/18; Yield to Call 1.695%; Moody BAA2 S&P A-; Issued 11/10/11; Asset Class: FI & Pref KEYCORP Coupon Rate 2.300%; Matures 12/13/2018; CUSIP 49326EEE9 2/27/17 30,000.000 100.658 100.658 100.550 30,197.40 30,197.40 30,165.00 (32.40)ST 690.00 143.74 2.28 Int. Semi-Annually Jun/Dec 13; Callable $100.00 on 11/13/18; Yield to Call 1.970%; Moody BAA1 S&P BBB+; Issued 11/13/13; Asset Class: FI & Pref BANK OF AMERICA CORP Coupon Rate 2.600%; Matures 01/15/2019; CUSIP 06051GEX3 2/24/17 35,000.000 101.371 101.371 101.271 35,479.85 35,479.85 35,444.85 (35.00)ST 910.00 108.69 2.56 Int. Semi-Annually Jan/Jul 15; Yield to Maturity 1.908%; Moody BAA1 S&P BBB+; Issued 10/22/13; Asset Class: FI & Pref GOLDMAN SACHS GROUP INC Coupon Rate 2.625%; Matures 01/31/2019; CUSIP 38145XAA1 2/1/17 30,000.000 101.102 101.067 101.256 30,330.60 30,320.11 30,376.80 56.69 ST 788.00 61.25 2.59 Int. Semi-Annually Jan/Jul 31; Yield to Maturity 1.957%; Moody A3 S&P BBB+; Issued 01/31/14; Asset Class: FI & Pref MORGAN STANLEY Coupon Rate 2.450%; Matures 02/01/2019; CUSIP 61746BDX1 2/3/17 30,000.000 100.834 100.810 100.922 30,250.20 30,242.94 30,276.60 33.66 ST 735.00 55.12 2.42 Int. Semi-Annually Feb/Aug 01; Yield to Maturity 1.959%; Moody A3 S&P BBB+; Issued 01/27/16; Asset Class: FI & Pref 00 1 0 2 6 M S A D D 2 5 1 Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 8 of 20 Security Description Trade Date Face Value Orig Unit Cost Adj Unit Cost Unit Price Orig Total Cost Adj Total Cost Market Value Unrealized Gain/(Loss) Est Ann Income Accrued Interest Current Yield % SIMON PROPERTY GROUP LP Coupon Rate 2.200%; Matures 02/01/2019; CUSIP 828807CQ8 2/3/17 25,000.000 100.879 100.853 100.810 25,219.75 25,213.36 25,202.50 (10.86)ST 550.00 41.25 2.18 Int. Semi-Annually Feb/Aug 01; Callable $100.00 on 11/01/18; Yield to Call 1.707%; Moody A2 S&P A; Issued 01/21/14; Asset Class: FI & Pref UNION ELECTRIC CO Coupon Rate 6.700%; Matures 02/01/2019; CUSIP 906548CG5 2/24/17 35,000.000 109.170 109.144 109.034 38,209.50 38,200.37 38,161.90 (38.47)ST 2,345.00 175.87 6.14 Int. Semi-Annually Feb/Aug 01; Yield to Maturity 1.898%; Moody A2 S&P A; Issued 06/19/08; Asset Class: FI & Pref PROLOGIS LP Coupon Rate 2.750%; Matures 02/15/2019; CUSIP 74340XAV3 2/2/17 30,000.000 101.628 101.580 101.490 30,488.40 30,473.85 30,447.00 (26.85)ST 825.00 29.79 2.70 Int. Semi-Annually Feb/Aug 15; Callable $100.00 on 01/15/19; Yield to Call 1.939%; Moody A3 S&P A-; Issued 08/15/13; Asset Class: FI & Pref ROCK-TENN COMPANY Coupon Rate 4.450%; Matures 03/01/2019; CUSIP 772739AJ7 2/9/17 31,000.000 104.440 104.351 104.603 32,376.40 32,348.87 32,426.93 78.06 ST 1,380.00 678.25 4.25 Int. Semi-Annually Mar/Sep 01; Yield to Maturity 2.097%; Moody BAA2 S&P BBB (-); Issued 03/01/13; Asset Class: FI & Pref MIDAMERICAN ENERGY CO Coupon Rate 2.400%; Matures 03/15/2019; CUSIP 595620AJ4 2/1/17 25,000.000 101.072 101.040 101.235 25,268.00 25,260.00 25,308.75 48.75 ST 600.00 271.66 2.37 Int. Semi-Annually Mar/Sep 15; Callable $100.00 on 02/15/19; Yield to Call 1.757%; Moody AA2 S&P A+; Issued 09/19/13; Asset Class: FI & Pref SUNTRUST BANKS INC Coupon Rate 2.500%; Matures 05/01/2019; CUSIP 867914BG7 2/24/17 40,000.000 101.163 101.163 101.070 40,465.20 40,465.20 40,428.00 (37.20)ST 1,000.00 325.00 2.47 Int. Semi-Annually May/Nov 01; Callable $100.00 on 04/01/19; Yield to Call 1.975%; Moody BAA1 S&P BBB+; Issued 05/01/14; Asset Class: FI & Pref PUBLIC SERVICE COLORADO Coupon Rate 5.125%; Matures 06/01/2019; CUSIP 744448CC3 2/1/17 41,000.000 107.210 107.015 107.075 43,956.10 43,876.11 43,900.75 24.64 ST 2,101.00 507.80 4.78 Int. Semi-Annually Jun/Dec 01; Yield to Maturity 1.908%; Moody A1 S&P A; Issued 06/04/09; Asset Class: FI & Pref NORFOLK SOUTHERN CORP Coupon Rate 5.900%; Matures 06/15/2019; CUSIP 655844BC1 2/1/17 41,000.000 108.734 108.502 108.810 44,580.94 44,485.81 44,612.10 126.29 ST 2,419.00 490.51 5.42 Int. Semi-Annually Jun/Dec 15; Yield to Maturity 1.958%; Moody BAA1 S&P BBB+; Issued 06/01/09; Asset Class: FI & Pref AMERICAN EXPRESS CREDIT Coupon Rate 2.250%; Matures 08/15/2019; CUSIP 0258M0DP1 2/27/17 35,000.000 100.928 100.928 100.853 35,324.80 35,324.80 35,298.55 (26.25)ST 788.00 28.43 2.23 Int. Semi-Annually Feb/Aug 15; Yield to Maturity 1.894%; Moody A2 S&P A-; Issued 08/15/14; Asset Class: FI & Pref BOSTON PROPERTIES INC Coupon Rate 5.875%; Matures 10/15/2019; CUSIP 10112RAQ7 2/3/17 30,000.000 108.859 108.672 108.930 32,657.70 32,601.52 32,679.00 77.48 ST 1,763.00 651.14 5.39 Int. Semi-Annually Apr/Oct 15; Callable $100.00 on 07/15/19; Yield to Call 2.013%; Moody BAA2 S&P A-; Issued 10/09/09; Asset Class: FI & Pref MORGAN STANLEY Coupon Rate 2.650%; Matures 01/27/2020; CUSIP 61747YDW2 2/6/17 34,000.000 101.003 100.985 101.136 34,341.02 34,334.81 34,386.24 51.43 ST 901.00 77.58 2.62 Int. Semi-Annually Jan/Jul 27; Yield to Maturity 2.245%; Moody A3 S&P BBB+; Issued 01/27/15; Asset Class: FI & Pref APPLE INC Coupon Rate 1.900%; Matures 02/07/2020; CUSIP 037833CK4 2/2/17 60,000.000 99.951 99.951 100.220 59,970.60 59,970.60 60,132.00 161.40 ST 1,140.00 60.16 1.89 Int. Semi-Annually Feb/Aug 07; Yield to Maturity 1.823%; First Coupon 08/07/17; Moody AA1 S&P AA+; Issued 02/09/17; Asset Class: FI & Pref Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 9 of 20 Security Description Trade Date Face Value Orig Unit Cost Adj Unit Cost Unit Price Orig Total Cost Adj Total Cost Market Value Unrealized Gain/(Loss) Est Ann Income Accrued Interest Current Yield % PNC FUNDING CORP Coupon Rate 5.125%; Matures 02/08/2020; CUSIP 693476BJ1 2/24/17 30,000.000 108.679 108.679 108.101 32,603.70 32,603.70 32,430.30 (173.40)ST 1,538.00 85.41 4.74 Int. Semi-Annually Feb/Aug 08; Yield to Maturity 2.265%; Moody A3 S&P A-; Issued 02/08/10; Asset Class: FI & Pref AMERICAN HONDA FINANCE Coupon Rate 2.000%; Matures 02/14/2020; CUSIP 02665WBM2 2/13/17 55,000.000 99.858 99.858 100.193 54,921.90 54,921.90 55,106.15 184.25 ST 1,100.00 36.66 1.99 Int. Semi-Annually Feb/Aug 14; Yield to Maturity 1.933%; First Coupon 08/14/17; Moody A1 S&P A+; Issued 02/16/17; Asset Class: FI & Pref NOVARTIS CAPITAL CORP Coupon Rate 1.800%; Matures 02/14/2020; CUSIP 66989HAL2 2/14/17 50,000.000 99.609 99.609 99.935 49,804.50 49,804.50 49,967.50 163.00 ST 900.00 27.50 1.80 Int. Semi-Annually Feb/Aug 14; Yield to Maturity 1.823%; First Coupon 08/14/17; Moody AA3 S&P AA-; Issued 02/17/17; Asset Class: FI & Pref PACCAR FINANCIAL CORP Coupon Rate 1.950%; Matures 02/27/2020; CUSIP 69371RN69 2/22/17 50,000.000 99.820 99.820 100.105 49,910.00 49,910.00 50,052.50 142.50 ST 975.00 2.70 1.94 Int. Semi-Annually Feb/Aug 27; Yield to Maturity 1.914%; First Coupon 08/27/17; Moody A1E S&P A+; Issued 02/27/17; Asset Class: FI & Pref ROCKWELL AUTOMATION INC Coupon Rate 2.050%; Matures 03/01/2020; CUSIP 773903AF6 2/3/17 33,000.000 99.813 99.813 99.762 32,938.29 32,938.29 32,921.46 (16.83)ST 676.00 332.61 2.05 Int. Semi-Annually Mar/Sep 01; Callable $100.00 on 02/01/20; Yield to Maturity 2.132%; Moody A3 S&P A; Issued 02/17/15; Asset Class: FI & Pref AMERICAN EXPRESS CREDIT Coupon Rate 2.200%; Matures 03/03/2020; CUSIP 0258M0EE5 2/28/17 20,000.000 99.896 99.896 99.896 19,979.20 19,979.20 19,979.20 0.00 ST 440.00 2.20 Int. Semi-Annually Mar/Sep 03; Yield to Maturity 2.236%; First Coupon 09/03/17; Moody A2E; Issued 03/03/17; Asset Class: FI & Pref GOLDMAN SACHS GROUP INC Coupon Rate 5.375%; Matures 03/15/2020; CUSIP 38141EA58 2/1/17 30,000.000 108.466 108.298 108.543 32,539.80 32,489.30 32,562.90 73.60 ST 1,613.00 730.10 4.95 Int. Semi-Annually Mar/Sep 15; Yield to Maturity 2.448%; Moody A3 S&P BBB+; Issued 03/08/10; Asset Class: FI & Pref JP MORGAN CHASE Coupon Rate 4.950%; Matures 03/25/2020; CUSIP 46625HHQ6 2/23/17 30,000.000 108.274 108.267 108.241 32,482.20 32,480.02 32,472.30 (7.72)ST 1,485.00 631.12 4.57 Int. Semi-Annually Mar/Sep 25; Yield to Maturity 2.165%; Moody A3 S&P A-; Issued 03/25/10; Asset Class: FI & Pref CONSUMERS ENERGY CO Coupon Rate 5.650%; Matures 04/15/2020; CUSIP 210518CL8 2/1/17 53,000.000 109.873 109.682 110.390 58,232.69 58,131.33 58,506.70 375.37 ST 2,995.00 1,106.30 5.11 Int. Semi-Annually Apr/Oct 15; Yield to Maturity 2.197%; Moody A1 S&P A; Issued 03/24/05; Asset Class: FI & Pref ERP OPERATING-LP Coupon Rate 4.750%; Matures 07/15/2020; CUSIP 26884AAY9 2/1/17 30,000.000 107.259 107.129 107.195 32,177.70 32,138.77 32,158.50 19.73 ST 1,425.00 288.95 4.43 Int. Semi-Annually Jun/Dec 15; Callable $100.00 on 04/15/20; Yield to Call 2.352%; Moody BAA1 S&P A-; Issued 07/15/10; Asset Class: FI & Pref COMMONWEALTH EDISON COMPANY Coupon Rate 4.000%; Matures 08/01/2020; CUSIP 202795HV5 2/16/17 50,000.000 105.233 105.204 105.322 52,616.50 52,602.23 52,661.00 58.77 ST 2,000.00 150.00 3.79 Int. Semi-Annually Feb/Aug 01; Callable $100.00 on 05/01/20; Yield to Call 2.253%; Moody A2 S&P A-; Issued 08/02/10; Asset Class: FI & Pref GILEAD SCIENCES INC Coupon Rate 2.550%; Matures 09/01/2020; CUSIP 375558BB8 2/28/17 40,000.000 100.885 100.885 101.021 40,354.00 40,354.00 40,408.40 54.40 ST 1,020.00 501.50 2.52 Int. Semi-Annually Mar/Sep 01; Yield to Maturity 2.246%; Moody A3 S&P A; Issued 09/14/15; Asset Class: FI & Pref 00 1 0 2 6 M S A D D 2 5 1 Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 10 of 20 Security Description Trade Date Face Value Orig Unit Cost Adj Unit Cost Unit Price Orig Total Cost Adj Total Cost Market Value Unrealized Gain/(Loss) Est Ann Income Accrued Interest Current Yield % AVALONBAY COMMUNITIES IN Coupon Rate 3.625%; Matures 10/01/2020; CUSIP 05348EAS8 2/8/17 30,000.000 104.286 104.236 103.824 31,285.80 31,270.65 31,147.20 (123.45)ST 1,088.00 444.06 3.49 Int. Semi-Annually Apr/Oct 01; Callable $100.00 on 07/01/20; Yield to Call 2.426%; Moody A3 S&P A-; Issued 09/20/13; Asset Class: FI & Pref KENTUCKY UTILITIES COMPANY Coupon Rate 3.250%; Matures 11/01/2020; CUSIP 491674BE6 2/17/17 55,000.000 103.537 103.522 103.463 56,945.35 56,936.87 56,904.65 (32.22)ST 1,788.00 580.93 3.14 Int. Semi-Annually May/Nov 01; Callable $100.00 on 08/01/20; Yield to Call 2.195%; Moody A1 S&P A; Issued 05/01/11; Asset Class: FI & Pref EMERSON ELECTRIC CO. Coupon Rate 4.250%; Matures 11/15/2020; CUSIP 291011BC7 2/28/17 50,000.000 107.159 107.159 107.020 53,579.50 53,579.50 53,510.00 (69.50)ST 2,125.00 607.98 3.97 Int. Semi-Annually May/Nov 15; Yield to Maturity 2.268%; Moody A2 S&P A; Issued 11/16/09; Asset Class: FI & Pref LOCKHEED MARTIN CORP Coupon Rate 2.500%; Matures 11/23/2020; CUSIP 539830BF5 2/3/17 15,000.000 100.930 100.916 101.011 15,139.50 15,137.43 15,151.65 14.22 ST 375.00 98.95 2.47 Int. Semi-Annually May/Nov 23; Callable $100.00 on 10/23/20; Yield to Call 2.210%; Moody BAA1 S&P BBB+; Issued 11/23/15; Asset Class: FI & Pref UNION PACIFIC CORP Coupon Rate 4.000%; Matures 02/01/2021; CUSIP 907818DG0 2/1/17 30,000.000 106.011 105.919 106.185 31,803.30 31,775.59 31,855.50 79.91 ST 1,200.00 90.00 3.76 Int. Semi-Annually Feb/Aug 01; Callable $100.00 on 11/01/20; Yield to Call 2.237%; Moody A3 S&P A; Issued 08/02/10; Asset Class: FI & Pref ENTERGY ARKANSAS, INC. Coupon Rate 3.750%; Matures 02/15/2021; CUSIP 29364DAQ3 2/1/17 30,000.000 104.961 104.886 105.005 31,488.30 31,465.67 31,501.50 35.83 ST 1,125.00 40.62 3.57 Int. Semi-Annually Feb/Aug 15; Callable $100.00 on 11/15/20; Yield to Call 2.335%; Moody A2 S&P A; Issued 11/12/10; Asset Class: FI & Pref KIMCO REALTY CORP Coupon Rate 3.200%; Matures 05/01/2021; CUSIP 49446RAL3 2/17/17 30,000.000 102.012 102.004 101.730 30,603.60 30,601.32 30,519.00 (82.32)ST 960.00 312.00 3.14 Int. Semi-Annually May/Nov 01; Callable $100.00 on 03/01/21; Yield to Call 2.741%; Moody BAA1 S&P BBB+; Issued 04/24/14; Asset Class: FI & Pref EQUIFAX INC Coupon Rate 2.300%; Matures 06/01/2021; CUSIP 294429AK1 2/28/17 35,000.000 98.712 98.712 98.641 34,549.20 34,549.20 34,524.35 (24.85)ST 805.00 194.54 2.33 Int. Semi-Annually Jun/Dec 01; Callable $100.00 on 05/01/21; Yield to Maturity 2.639%; Moody BAA1 S&P BBB+; Issued 05/12/16; Asset Class: FI & Pref JPMORGAN CHASE & CO Coupon Rate 2.400%; Matures 06/07/2021; CUSIP 46625HRT9 2/23/17 30,000.000 99.563 99.563 99.552 29,868.90 29,868.90 29,865.60 (3.30)ST 720.00 162.00 2.41 Int. Semi-Annually Jun/Dec 07; Callable $100.00 on 05/07/21; Yield to Maturity 2.511%; Moody A3 S&P A-; Issued 06/07/16; Asset Class: FI & Pref FISERV, INC. Coupon Rate 4.750%; Matures 06/15/2021; CUSIP 337738AL2 2/2/17 30,000.000 108.051 107.944 107.911 32,415.30 32,383.19 32,373.30 (9.89)ST 1,425.00 288.95 4.40 Int. Semi-Annually Jun/Dec 15; Yield to Maturity 2.783%; Moody BAA2 S&P BBB; Issued 06/14/11; Asset Class: FI & Pref SIMON PROPERTY GROUP LP Coupon Rate 2.500%; Matures 07/15/2021; CUSIP 828807CX3 2/2/17 30,000.000 100.068 100.067 100.239 30,020.40 30,020.13 30,071.70 51.57 ST 750.00 89.58 2.49 Int. Semi-Annually Jan/Jul 15; Callable $100.00 on 04/15/21; Yield to Call 2.438%; Moody A2 S&P A; Issued 01/13/16; Asset Class: FI & Pref GOLDMAN SACHS GROUP INC Coupon Rate 5.250%; Matures 07/27/2021; CUSIP 38141GGQ1 2/1/17 30,000.000 109.622 109.492 110.028 32,886.60 32,847.74 33,008.40 160.66 ST 1,575.00 135.62 4.77 Int. Semi-Annually Jan/Jul 27; Yield to Maturity 2.817%; Moody A3 S&P BBB+; Issued 07/27/11; Asset Class: FI & Pref Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 11 of 20 Security Description Trade Date Face Value Orig Unit Cost Adj Unit Cost Unit Price Orig Total Cost Adj Total Cost Market Value Unrealized Gain/(Loss) Est Ann Income Accrued Interest Current Yield % BURLINGTN NORTH SANTA FE Coupon Rate 3.450%; Matures 09/15/2021; CUSIP 12189LAF8 2/15/17 60,000.000 103.853 103.835 104.223 62,311.80 62,301.12 62,533.80 232.68 ST 2,070.00 937.25 3.31 Int. Semi-Annually Mar/Sep 15; Callable $100.00 on 06/15/21; Yield to Call 2.409%; Moody A3 S&P A; Issued 08/22/11; Asset Class: FI & Pref LOCKHEED MARTIN CORP Coupon Rate 3.350%; Matures 09/15/2021; CUSIP 539830AY5 2/2/17 35,000.000 103.339 103.297 103.558 36,168.65 36,153.94 36,245.30 91.36 ST 1,173.00 530.88 3.23 Int. Semi-Annually Mar/Sep 15; Yield to Maturity 2.517%; Moody BAA1 S&P BBB+; Issued 09/09/11; Asset Class: FI & Pref JOHNSON & JOHNSON Coupon Rate 2.250%; Matures 03/03/2022; CUSIP 478160CD4 2/28/17 50,000.000 99.728 99.728 99.761 49,864.00 49,864.00 49,880.50 16.50 ST 1,125.00 2.25 Int. Semi-Annually Mar/Sep 03; Yield to Maturity 2.301%; First Coupon 09/03/17; Issued 03/03/17; Asset Class: FI & Pref SAFINA LTD Coupon Rate 2.000%; Matures 12/30/2023; CUSIP 78657AAB5 1/31/17 200,000.000 99.000 99.000 98.895 126,014.55 126,014.55 125,880.89 (133.66)ST 2,546.00 410.14 2.02 Interest Paid Quarterly Sep 30; Yield to Maturity 2.175%; Factor .63643710; Issued 06/25/12; Current Face 127,287.420; Asset Class: FI & Pref Percentage of Holdings Face Value Orig Total Cost Adj Total Cost Market Value Unrealized Gain/(Loss) Est Ann Income Accrued Interest Current Yield % CORPORATE FIXED INCOME 1,963,000.000 $1,948,838.14 $1,947,968.00 $1,949,431.72 $1,463.72 ST $64,360.00 $15,097.99 3.30% TOTAL CORPORATE FIXED INCOME (includes accrued interest) 12.17%$1,964,529.71 Watchlist and CreditWatch Indicators: (*) = developing/uncertain (+) = On Watchlist/CreditWatch Upgrade (-) = On Watchlist/CreditWatch Downgrade GOVERNMENT SECURITIES TREASURY SECURITIES Security Description Trade Date Face Value Orig Unit Cost Adj Unit Cost Unit Price Orig Total Cost Adj Total Cost Market Value Unrealized Gain/(Loss) Est Ann Income Accrued Interest Current Yield % UNITED STATES TREASURY NOTE Coupon Rate 1.000%; Matures 02/15/2018; CUSIP 912828H94 1/31/17 4,165,000.000 $100.129 $100.094 $100.063 $4,170,382.90 $4,168,897.61 $4,167,623.95 $(1,273.66)ST $41,650.00 $1,495.71 0.99 Int. Semi-Annually Feb/Aug 15; Yield to Maturity .934%; Moody AAA; Issued 02/15/15; Asset Class: FI & Pref UNITED STATES TREASURY NOTE Coupon Rate 1.125%; Matures 01/31/2019; CUSIP 912828V56 1/31/17 7,825,000.000 99.856 99.856 99.844 7,813,716.35 7,813,716.35 7,812,793.00 (923.35)ST 88,031.00 6,809.04 1.12 Int. Semi-Annually Jan/Jul 31; Yield to Maturity 1.207%; Moody AAA; Issued 01/31/17; Asset Class: FI & Pref UNITED STATES TREASURY NOTE Coupon Rate 1.375%; Matures 01/15/2020; CUSIP 912828V31 1/31/17 1,900,000.000 99.782 99.782 99.773 1,895,850.40 1,895,850.21 1,895,687.00 (163.21)ST 26,125.00 3,175.41 1.37 Int. Semi-Annually Jan/Jul 15; Yield to Maturity 1.456%; Moody AAA; Issued 01/15/17; Asset Class: FI & Pref 00 1 0 2 6 M S A D D 2 5 1 Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 12 of 20 Security Description Trade Date Face Value Orig Unit Cost Adj Unit Cost Unit Price Orig Total Cost Adj Total Cost Market Value Unrealized Gain/(Loss) Est Ann Income Accrued Interest Current Yield % UNITED STATES TREASURY NOTE-INFLATION INDEXED Coupon Rate 0.125%; Matures 04/15/2021; CUSIP 912828Q60 1/31/17 315,000.000 101.306 101.306 101.395 325,439.45 325,439.45 325,354.14 (85.31)ST 401.00 149.86 0.12 Int. Semi-Annually Apr/Oct 15; Factor 1.01866000; Moody AAA; Issued 04/15/16; Current Face 320,877.900; Asset Class: FI & Pref Percentage of Holdings Face Value Orig Total Cost Adj Total Cost Market Value Unrealized Gain/(Loss) Est Ann Income Accrued Interest Current Yield % GOVERNMENT SECURITIES 14,205,000.000 $14,205,389.10 $14,203,903.62 $14,201,458.09 $(2,445.53)ST $156,207.00 $11,630.02 1.10% TOTAL GOVERNMENT SECURITIES (includes accrued interest) 88.06%$14,213,088.11 Percentage of Holdings Total Cost Market Value Unrealized Gain/(Loss) Est Ann Income Accrued Interest Current Yield % TOTAL MARKET VALUE $16,151,871.62 $16,112,917.91 $(981.81)ST $220,585.00 $26,728.01 1.37% TOTAL VALUE (includes accrued interest)100.00%$16,139,645.92 Unrealized Gain/(Loss) totals only reflect positions that have both cost basis and market value information available. Cash, MMF, Deposits and positions stating 'Please Provide' or 'Pending Corporate Actions' are not included. ALLOCATION OF ASSETS (^includes accrued interest) Cash Equities Fixed Income & Preferred Securities Alternatives Annuities & Insurance Structured Investments Other Cash, BDP, MMFs $(37,971.90)—————— Corporate Fixed Income^——$1,964,529.71 ———— Government Securities^——14,213,088.11 ———— TOTAL ALLOCATION OF ASSETS^$(37,971.90)—$16,177,617.82 ———— Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 13 of 20 ACTIVITY INVESTMENT RELATED ACTIVITY PURCHASES, DIVIDEND REINVESTMENTS, SALES AND REDEMPTIONS Activity Date Settlement Date Activity Type Description Comments Quantity Price Credits/(Debits) 2/1 2/1 Bought US TSY NOTE 1125 19JA31 ACTED AS AGENT ACCRUED INTEREST 243.18 a/o 01/31/17 7,825,000.000 $99.8558 $(7,813,959.53) 2/1 2/1 Bought US TSY NOTE 1375 20JA15 ACTED AS AGENT ACCRUED INTEREST 1,840.30 a/o 01/31/17 2,850,000.000 99.7816 (2,845,615.90) 2/1 2/1 Bought US TSY NOTE TIIN 0125 21AP15 ACTED AS AGENT ACCRUED INTEREST 120.07 a/o 01/31/17 315,000.000 103.3141 (331,531.30) 2/1 2/2 Sold US TSY NOTE 1375 20JA15 ACTED AS AGENT ACCRUED INTEREST 102.56 150,000.000 99.6286 149,545.46 2/1 2/3 Bought SAFINA LTD 2000 23DE30 ACTED AS AGENT ACCRUED INTEREST 233.36 a/o 01/31/17 200,000.000 99.0000 (126,247.91) 2/1 2/6 Bought CONSUMERS ENERGY 5650 20AP15 ACTED AS AGENT ACCRUED INTEREST 923.30 53,000.000 109.8730 (59,155.99) 2/1 2/6 Bought NORFOLK SOUTHERN 5900 19JN15 ACTED AS AGENT ACCRUED INTEREST 342.69 41,000.000 108.7340 (44,923.63) 2/1 2/6 Bought GOLDMAN SACHS 5375 20MH15 ACTED AS AGENT ACCRUED INTEREST 631.56 30,000.000 108.4660 (33,171.36) 2/1 2/6 Bought GOLDMAN SACHS 5250 21JL27 ACTED AS AGENT ACCRUED INTEREST 39.38 30,000.000 109.6220 (32,925.98) 2/1 2/6 Bought ERP OPERATING-LP 4750 *20JL15 ACTED AS AGENT ACCRUED INTEREST 201.87 30,000.000 107.2590 (32,379.57) 2/1 2/6 Bought ENTERGY ARKANSAS 3750 *21FB15 ACTED AS AGENT ACCRUED INTEREST 534.38 30,000.000 104.9610 (32,022.68) 2/1 2/6 Bought MARSH & MCLENNAN 2550 *18OC15 ACTED AS AGENT ACCRUED INTEREST 235.88 30,000.000 101.0970 (30,564.98) 2/1 2/6 Bought GOLDMAN SACHS INC 2625 19JA31 ACTED AS AGENT ACCRUED INTEREST 13.12 30,000.000 101.1020 (30,343.72) 2/1 2/6 Bought MIDAMERICAN 2400 *19MH15 ACTED AS AGENT ACCRUED INTEREST 235.00 25,000.000 101.0720 (25,503.00) 2/2 2/1 Bought - Cancelled US TSY NOTE TIIN 0125 21AP15 ACTED AS AGENT ACCRUED INTEREST 120.07 315,000.000 331,531.30 2/2 2/1 Bought US TSY NOTE TIIN 0125 21AP15 ACTED AS AGENT ACCRUED INTEREST 120.07 a/o 01/31/17 315,000.000 101.4535 (325,562.71) 00 1 0 2 6 M S A D D 2 5 1 Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 14 of 20 PURCHASES, DIVIDEND REINVESTMENTS, SALES AND REDEMPTIONS (CONTINUED) Activity Date Settlement Date Activity Type Description Comments Quantity Price Credits/(Debits) 2/3 2/3 Sold US TSY NOTE 1000 18FB15 ACTED AS AGENT ACCRUED INTEREST 934.78 a/o 02/02/17 200,000.000 100.1247 201,184.18 2/3 2/6 Sold US TSY NOTE 1375 20JA15 ACTED AS AGENT ACCRUED INTEREST 125.35 150,000.000 99.8239 149,861.20 2/3 2/6 Sold US TSY NOTE 1375 20JA15 ACTED AS AGENT ACCRUED INTEREST 125.35 150,000.000 99.7301 149,720.50 2/3 2/6 Bought PUBLIC SERVC COLO 5125 19JN01 ACTED AS AGENT ACCRUED INTEREST 379.39 a/o 02/01/17 41,000.000 107.2100 (44,335.49) 2/3 2/6 Bought UNION PACIFIC COR 4000 *21FBRG ACTED AS AGENT ACCRUED INTEREST 16.67 a/o 02/01/17 30,000.000 106.0110 (31,819.97) 2/3 2/7 Bought LOCKHEED MARTIN 3350 21SP15 ACTED AS AGENT ACCRUED INTEREST 462.49 a/o 02/02/17 35,000.000 103.3390 (36,631.14) 2/3 2/7 Bought FISERV, INC. 4750 21JN15 ACTED AS AGENT ACCRUED INTEREST 205.83 a/o 02/02/17 30,000.000 108.0510 (32,621.13) 2/3 2/7 Bought PROLOGIS LP 2750 *19FB15 ACTED AS AGENT ACCRUED INTEREST 394.17 a/o 02/02/17 30,000.000 101.6280 (30,882.57) 2/3 2/7 Bought SIMON PROPERTY GR 2500 *21JL15 ACTED AS AGENT ACCRUED INTEREST 45.83 a/o 02/02/17 30,000.000 100.0680 (30,066.23) 2/3 2/8 Bought ROCKWELL AUTOMATI 2050 *20MH01 ACTED AS AGENT ACCRUED INTEREST 295.03 33,000.000 99.8130 (33,233.32) 2/3 2/8 Bought BOSTON PROPERTIES 5875 *19OC15 ACTED AS AGENT ACCRUED INTEREST 553.23 30,000.000 108.8590 (33,210.93) 2/3 2/8 Bought MORGAN STANLEY 2450 19FB01 ACTED AS AGENT ACCRUED INTEREST 14.29 30,000.000 100.8340 (30,264.49) 2/3 2/8 Bought SIMON PPTY GRP LP 2200 *19FB01 ACTED AS AGENT ACCRUED INTEREST 10.69 25,000.000 100.8790 (25,230.44) 2/3 2/8 Bought LOCKHEED MARTIN C 2500 *20NV23 ACTED AS AGENT ACCRUED INTEREST 78.12 15,000.000 100.9300 (15,217.62) 2/3 2/9 Bought APPLE INC 1900 20FB07 ACTED AS AGENT a/o 02/02/17 60,000.000 99.9510 (59,970.60) 2/6 2/9 Bought MORGAN STANLEY 2650 20JA27 ACTED AS AGENT ACCRUED INTEREST 30.03 34,000.000 101.0030 (34,371.05) 2/6 2/9 Bought TRAVELERS COS IN 5800 18MY15 ACTED AS AGENT ACCRUED INTEREST 406.00 30,000.000 105.3170 (32,001.10) 2/7 2/1 Bought - Cancelled US TSY NOTE 1000 18FB15 ACTED AS AGENT ACCRUED INTEREST 22,173.91 4,800,000.000 4,828,375.51 Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 15 of 20 PURCHASES, DIVIDEND REINVESTMENTS, SALES AND REDEMPTIONS (CONTINUED) Activity Date Settlement Date Activity Type Description Comments Quantity Price Credits/(Debits) 2/7 2/1 Bought US TSY NOTE 1000 18FB15 ACTED AS AGENT ACCRUED INTEREST 44,347.82 a/o 01/31/17 9,600,000.000 100.1292 (9,656,751.02) 2/8 2/9 Sold US TSY NOTE 1375 20JA15 ACTED AS AGENT ACCRUED INTEREST 142.44 150,000.000 99.9489 150,065.79 2/8 2/9 Bought SOUTHERN CALIF 5450 18AP15 ACTED AS AGENT ACCRUED INTEREST 517.75 a/o 02/07/17 30,000.000 104.3720 (31,829.35) 2/8 2/10 Bought BOSTON PROP LP 3700 *18NV15 ACTED AS AGENT ACCRUED INTEREST 218.40 a/o 02/07/17 25,000.000 102.9080 (25,945.40) 2/8 2/13 Bought AVALONBAY COMM 3625 *20OC01 ACTED AS AGENT ACCRUED INTEREST 398.75 30,000.000 104.2860 (31,684.55) 2/9 2/1 Bought - Cancelled US TSY NOTE 1000 18FB15 ACTED AS AGENT ACCRUED INTEREST 22,173.91 4,800,000.000 4,828,375.51 2/9 2/1 Bought - Cancelled US TSY NOTE TIIN 0125 21AP15 ACTED AS AGENT ACCRUED INTEREST 120.07 315,000.000 325,562.71 2/9 2/1 Bought - Adjusted US TSY NOTE 1000 18FB15 ACTED AS AGENT ACCRUED INTEREST 22,173.91 4,800,000.000 (4,828,377.49) 2/9 2/1 Bought - Adjusted US TSY NOTE TIIN 0125 21AP15 ACTED AS AGENT ACCRUED INTEREST 120.07 315,000.000 (325,559.52) 2/9 2/14 Bought ROCK-TENN COMPANY 4450 19MH01 ACTED AS AGENT ACCRUED INTEREST 624.61 31,000.000 104.4400 (33,001.01) 2/14 2/16 Bought CARDINAL HEALTH 1950 18JN15 ACTED AS AGENT ACCRUED INTEREST 99.13 a/o 02/13/17 30,000.000 100.3240 (30,196.33) 2/14 2/17 Bought NOVARTIS CAPITAL 1800 20FB14 ACTED AS AGENT 50,000.000 99.6090 (49,804.50) 2/15 2/16 Sold US TSY NOTE 1000 18FB15 ACTED AS AGENT ACCRUED INTEREST 4.42 160,000.000 100.0778 160,128.90 2/15 2/16 Bought AMERICAN HONDA FI 2000 20FB14 ACTED AS AGENT a/o 02/13/17 55,000.000 99.8580 (54,921.90) 2/15 2/21 Bought BURLINGTN NORTH 3450 *21SP15 ACTED AS AGENT ACCRUED INTEREST 897.00 60,000.000 103.8530 (63,208.80) 2/17 2/23 Bought KENTUCKY UTILS CO 3250 *20NV01 ACTED AS AGENT ACCRUED INTEREST 556.11 55,000.000 103.5370 (57,501.46) 2/21 2/22 Sold US TSY NOTE 1375 20JA15 ACTED AS AGENT ACCRUED INTEREST 252.59 175,000.000 99.7340 174,787.09 2/21 2/22 Bought COMMONWEALTH EDIS 4000 *20AU01 ACTED AS AGENT ACCRUED INTEREST 116.67 a/o 02/16/17 50,000.000 105.2330 (52,733.17) 2/21 2/23 Bought KIMCO REALTY CORP 3200 *21MY01 ACTED AS AGENT ACCRUED INTEREST 298.67 a/o 02/17/17 30,000.000 102.0120 (30,902.27) 00 1 0 2 6 M S A D D 2 5 1 Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 16 of 20 PURCHASES, DIVIDEND REINVESTMENTS, SALES AND REDEMPTIONS (CONTINUED) Activity Date Settlement Date Activity Type Description Comments Quantity Price Credits/(Debits) 2/22 2/27 Bought PACCAR FINANCIAL 1950 20FB27 ACTED AS AGENT 50,000.000 99.8200 (49,910.00) 2/23 2/28 Bought JP MORGAN CHASE 4950 20MH25 ACTED AS AGENT ACCRUED INTEREST 631.13 30,000.000 108.2740 (33,113.33) 2/24 2/27 Sold US TSY NOTE 1375 20JA15 ACTED AS AGENT ACCRUED INTEREST 285.83 175,000.000 99.9450 175,189.58 2/24 2/27 Bought UNION ELECTRIC CO 6700 19FB01 ACTED AS AGENT ACCRUED INTEREST 169.36 35,000.000 109.1700 (38,378.86) 2/24 2/28 Bought JPMORGAN CHASE 2400 *21JN07 ACTED AS AGENT ACCRUED INTEREST 162.00 a/o 02/23/17 30,000.000 99.5630 (30,030.90) 2/24 3/1 Bought SUNTRUST BANKS 2500 *19MY01 ACTED AS AGENT ACCRUED INTEREST 333.33 40,000.000 101.1630 (40,798.53) 2/24 3/1 Bought PNC FUNDING COP 5125 20FB08 ACTED AS AGENT ACCRUED INTEREST 98.23 30,000.000 108.6790 (32,701.93) 2/24 3/1 Bought BANK OF AMERICA 5650 18MY01 ACTED AS AGENT ACCRUED INTEREST 565.00 30,000.000 104.5340 (31,925.20) 2/27 2/28 Sold US TSY NOTE 1000 18FB15 ACTED AS AGENT ACCRUED INTEREST 62.85 175,000.000 100.1051 175,246.78 2/27 3/1 Bought BANK OF AMERICA 2600 19JA15 ACTED AS AGENT ACCRUED INTEREST 116.28 a/o 02/24/17 35,000.000 101.3710 (35,596.13) 2/27 3/1 Bought UNITED DOMINION R 4250 18JN01 ACTED AS AGENT ACCRUED INTEREST 265.63 a/o 02/24/17 25,000.000 103.1850 (26,061.88) 2/27 3/2 Bought AMERICAN EXPRESS 2250 19AU15 ACTED AS AGENT ACCRUED INTEREST 37.19 35,000.000 100.9280 (35,361.99) 2/27 3/2 Bought KEYCORP 2300 *18DE13 ACTED AS AGENT ACCRUED INTEREST 151.42 30,000.000 100.6580 (30,348.82) 2/28 3/1 Sold US TSY NOTE 1000 18FB15 ACTED AS AGENT ACCRUED INTEREST 38.67 100,000.000 100.0817 100,120.37 2/28 3/3 Bought EMERSON ELECTRIC 4250 20NV15 ACTED AS AGENT ACCRUED INTEREST 637.50 50,000.000 107.1590 (54,217.00) 2/28 3/3 Bought JOHNSON & JONHSON 2250 22MH03 ACTED AS AGENT 50,000.000 99.7280 (49,864.00) 2/28 3/3 Bought GILEAD SCIENCES I 2550 20SP01 ACTED AS AGENT ACCRUED INTEREST 5.67 40,000.000 100.8850 (40,359.67) 2/28 3/3 Bought EQUIFAX INC 2300 *21JN01 ACTED AS AGENT ACCRUED INTEREST 205.72 35,000.000 98.7120 (34,754.92) 2/28 3/3 Bought AMERICAN EXPRESS 2200 20MH03 ACTED AS AGENT 20,000.000 99.8960 (19,979.20) TOTAL PURCHASES, DIVIDEND REINVESTMENTS, SALES AND REDEMPTIONS $(16,189,888.59) TOTAL PURCHASES $(17,775,738.44) TOTAL SALES AND REDEMPTIONS $1,585,849.85 Purchase and Sale transactions above may have received an average price execution. Details regarding the actual prices are available upon request. Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 17 of 20 UNSETTLED PURCHASES/SALES ACTIVITY Activity Date Settlement Date Activity Type Description Comments Quantity Price Pending Credits/(Debits) 2/24 3/1 Bought BANK OF AMERICA 2600 19JA15 UNSETTLED PURCHASE 35,000.000 $101.3710 $(35,596.13) 2/24 3/1 Bought BANK OF AMERICA 5650 18MY01 UNSETTLED PURCHASE 30,000.000 104.5340 (31,925.20) 2/24 3/1 Bought PNC FUNDING COP 5125 20FB08 UNSETTLED PURCHASE 30,000.000 108.6790 (32,701.93) 2/24 3/1 Bought SUNTRUST BANKS 2500 *19MY01 UNSETTLED PURCHASE 40,000.000 101.1630 (40,798.53) 2/24 3/1 Bought UNITED DOMINION R 4250 18JN01 UNSETTLED PURCHASE 25,000.000 103.1850 (26,061.88) 2/27 3/2 Bought AMERICAN EXPRESS 2250 19AU15 UNSETTLED PURCHASE 35,000.000 100.9280 (35,361.99) 2/27 3/2 Bought KEYCORP 2300 *18DE13 UNSETTLED PURCHASE 30,000.000 100.6580 (30,348.82) 2/28 3/1 Sold US TSY NOTE 1000 18FB15 UNSETTLED SALE 100,000.000 100.0817 100,120.37 2/28 3/3 Bought AMERICAN EXPRESS 2200 20MH03 UNSETTLED PURCHASE 20,000.000 99.8960 (19,979.20) 2/28 3/3 Bought EMERSON ELECTRIC 4250 20NV15 UNSETTLED PURCHASE 50,000.000 107.1590 (54,217.00) 2/28 3/3 Bought EQUIFAX INC 2300 *21JN01 UNSETTLED PURCHASE 35,000.000 98.7120 (34,754.92) 2/28 3/3 Bought GILEAD SCIENCES I 2550 20SP01 UNSETTLED PURCHASE 40,000.000 100.8850 (40,359.67) 2/28 3/3 Bought JOHNSON & JONHSON 2250 22MH03 UNSETTLED PURCHASE 50,000.000 99.7280 (49,864.00) NET UNSETTLED PURCHASES/SALES $(331,848.90) This section displays transactions that have not settled during this statement period. The Holdings section includes positions purchased and omits positions sold or sold short as of the trade-date. The unit/share price for unsettled fixed income new issues in the Holdings section may be approximate in advance of active market pricing or pricing from third party pricing services. TAXABLE INCOME AND DISTRIBUTIONS Activity Date Activity Type Description Comments Credits/(Debits) 2/1 Dividend GUGGENHEIM LIMITED DURATION A DIV PAYMENT $8,268.26 2/1 Dividend VOYA SHORT TERM BOND A DIV PAYMENT 5,022.32 2/1 Dividend INVESCO FLOATING RATE A DIV PAYMENT 2,924.50 2/1 Dividend MSILF GOVT SEC PART DIV PAYMENT 323.93 2/15 Interest Income US TSY NOTE 1000 18FB15 CUSIP: 912828H94 23,000.00 2/15 Interest Income ENTERGY ARKANSAS 3750 *21FB15 CUSIP: 29364DAQ3 562.50 2/15 Interest Income PROLOGIS LP 2750 *19FB15 CUSIP: 74340XAV3 412.50 2/23 Dividend DELAWARE LTD-TERM DIVERS INC A DIV PAYMENT 1,237.01 2/28 Interest Income MORGAN STANLEY PRIVATE BANK NA (Period 02/01-02/28) 2.35 2/28 Interest Income MORGAN STANLEY BANK N.A. (Period 02/01-02/28) 0.45 TOTAL TAXABLE INCOME AND DISTRIBUTIONS $41,753.82 TOTAL OTHER DIVIDENDS $17,776.02 TOTAL INTEREST $23,977.80 00 1 0 2 6 M S A D D 2 5 1 Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 18 of 20 CASH RELATED ACTIVITY OTHER CREDITS AND DEBITS Activity Date Activity Type Description Comments Credits/(Debits) 2/17 Refund GUGGENHEIM LIMITED DUR $712.68 2/17 Refund DELAWARE LTD-TERM DIVE 302.80 2/21 Refund VOYA SHORT TERM BOND A 692.83 2/21 Refund INVESCO FLOATING RATE 130.70 TOTAL OTHER CREDITS AND DEBITS $1,839.01 TOTAL OTHER CREDITS $1,839.01 MONEY MARKET FUND (MMF) AND BANK DEPOSIT PROGRAM ACTIVITY Activity Date Activity Type Description Credits/(Debits) 2/1 Automatic Investment MSILF GOVT SEC PART $323.93 2/1 Automatic Redemption BANK DEPOSIT PROGRAM (33.97) 2/1 Automatic Redemption MSILF GOVT SEC PART (5,210.65) 2/2 Automatic Redemption BANK DEPOSIT PROGRAM (1,694,619.37) 2/2 Automatic Redemption MSILF GOVT SEC PART (14,108,647.79) 2/3 Automatic Investment BANK DEPOSIT PROGRAM 29,266.14 2/6 Automatic Investment BANK DEPOSIT PROGRAM 103,619.51 2/7 Automatic Redemption BANK DEPOSIT PROGRAM (130,201.07) 2/8 Automatic Redemption BANK DEPOSIT PROGRAM (137,156.80) 2/9 Automatic Redemption BANK DEPOSIT PROGRAM (8,106.31) 2/10 Automatic Redemption BANK DEPOSIT PROGRAM (25,944.19) 2/13 Automatic Redemption BANK DEPOSIT PROGRAM (31,684.55) 2/14 Automatic Redemption BANK DEPOSIT PROGRAM (33,001.01) 2/15 Automatic Investment BANK DEPOSIT PROGRAM 23,975.00 2/17 Automatic Investment BANK DEPOSIT PROGRAM 25,206.17 2/21 Automatic Redemption BANK DEPOSIT PROGRAM (62,193.32) 2/22 Automatic Investment BANK DEPOSIT PROGRAM 823.53 2/23 Automatic Investment BANK DEPOSIT PROGRAM 33,650.19 2/24 Automatic Investment BANK DEPOSIT PROGRAM 1,237.01 2/28 Automatic Investment BANK DEPOSIT PROGRAM 86,900.72 2/28 Automatic Investment BANK DEPOSIT PROGRAM 2.35 2/28 Automatic Investment BANK DEPOSIT PROGRAM 0.45 NET ACTIVITY FOR PERIOD $(15,931,794.03) Account Detail CLIENT STATEMENT For the Period February 1-28, 2017 Consulting and Evaluation Services Active Assets Account 660-110000-095 CITY OF ATLANTIC BEACH C/O RUSSELL CAFFEY Page 19 of 20 REALIZED GAIN/(LOSS) DETAIL SHORT-TERM GAIN/(LOSS) Security Description Date Acquired Date Sold Quantity Sales Proceeds Orig / Adj Total Cost Realized Gain/(Loss)Comments US TSY NOTE 1 3/8 1-15-20 01/31/17 02/01/17 150,000.000 $149,442.90 $149,672.45 $(229.55) 01/31/17 02/03/17 150,000.000 149,595.15 149,672.45 (77.30) 01/31/17 02/03/17 150,000.000 149,735.85 149,672.45 63.40 01/31/17 02/08/17 150,000.000 149,923.35 149,672.45 250.90 01/31/17 02/21/17 175,000.000 174,534.50 174,617.77 (83.27) 01/31/17 02/24/17 175,000.000 174,903.75 174,617.77 285.98 US TSY NOTE 1.000 2-15-18 01/31/17 02/02/17 200,000.000 200,249.40 200,257.29 (7.89) 01/31/17 02/15/17 160,000.000 160,124.48 160,198.51 (74.03) 01/31/17 02/27/17 175,000.000 175,183.93 175,209.94 (26.01) 01/31/17 02/28/17 100,000.000 100,081.70 100,119.56 (37.86) Short-Term This Period $1,583,775.01 $1,583,710.64 $64.37 Short-Term Year to Date $1,853,354.66 $1,851,862.40 $1,492.26 Net Realized Gain/(Loss) This Period $1,583,775.01 $1,583,710.64 $64.37 Net Realized Gain/(Loss) Year to Date $13,457,322.12 $13,539,131.29 $(81,809.17) Treasury regulations require that we report on Form 1099-B a) adjusted cost basis on the sale of covered securities acquired on or after 1/1/11 (or the applicable date for the type of security), b) the gain or loss as either long-term or short-term, and c) basis adjustments on covered securities due to wash sales, certain corporate actions and transfers by gift or inheritance. This section may not reflect all the basis adjustments required when filing your tax return. Refer to the Expanded Disclosures. MESSAGES Introducing Market Value Over Time Chart Morgan Stanley Online has added a Historical Value graph on the Home Page, which displays your account’s month-end Total Value, Net Invested Capital and Investment Earnings. Under Portfolio Reports, this graph is customizable by custom date range and will update month-end values for any adjustments made to the account. Therefore, starting with the January 2017 month-end statement, we replaced the current Change in Value Over Time graph with a Market Value Over Time bar chart, which displays the month-end Total Value for a rolling thirteen months. Looking To Increase Your Retirement Savings? There's still time before the April 18, 2017, deadline to make a contribution to an IRA for 2016 subject to IRS eligibility requirements (including any applicable age or income restrictions). Open a Traditional IRA with contributions that may be tax-deductible on your 2016 tax return, a Traditional IRA with non-deductible contributions or a Roth IRA with non-deductible contributions and the advantage of tax-free withdrawals (if certain conditions are met). The maximum contribution is the lesser of (a) your taxable compensation for 2016, or (b) $5,500 (or $6,500 if you are age 50 or older). These limits apply to all your IRAs combined. Please call your Financial Advisor or Private Wealth Advisor for more information about your retirement savings strategy. Important Information About Advisory Accounts Please notify your Financial Advisor if there have been any changes in your financial situation or investment objectives, or if you wish to impose any reasonable restrictions on the management of your Investment Advisory accounts, or to reasonably modify existing restrictions. For a copy of the applicable ADV Brochure for Morgan Stanley Smith Barney LLC, or for any investment adviser with whom we contract to manage your investment advisory account, please visit www.morganstanley.com/ADV, or contact your Financial Advisor. These ADV Brochures contain important information about advisory programs. 00 1 0 2 6 M S A D D 2 5 1 This page intentionally left blank Page 20 of 20