HomeMy WebLinkAbout2008-05-20; City Council; 19454; Report on city investments as of April 30, 20088
CITY OF CARLSBAD - AGENDA BILL
AB# 19,454
MTG. 05/20/08
DEPT. TRS
REPORT ON CITY INVESTMENTS
AS OF APRIL 30, 2008
DEPT. HEAD T^^/
CITYATTY. "<g?^
CITY MGR. (JJ^ -
RECOMMENDED ACTION:
Accept and file report.
ITEM EXPLANATION:
The City's Investment Policy requires the City Treasurer to report to the City Council on a monthly
basis the status of the City's pooled investment portfolio. A quarterly report is also required for
the investments of bond proceeds held separately. The City's pooled investment portfolio as of
the month ended April 30, 2008 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Par Value
Cost of Investments
Amortized Cost (1 )
Market Value (2)
Current Month
554,375,709
557,517,023
557,447,838
564,842,978
Prior Month
540,212,742
542,937,772
543,217,477
553,723,146
(1) The cost of investments adjusted for amortized premiums and discounts.
(2) The amount at which the investments could be sold. Source of market values is Union Bank
of California's custodial report as of 4/30/08.
The $14 million increase between March and April cost of investments is due to the receipt of
$12 million in property taxes and $2 million in franchise fees payments during the month of
April.
The equity portion of the various funds in the total portfolio is summarized in the graph on the next
page. Fund balances are restricted for various purposes. See Exhibit 7 for a more detailed
breakdown.
FOR CITY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED E£
DENIED D
CONTINUED D
WITHDRAWN D
AMENDED D
CONTINUED TO DATE SPECIFIC
CONTINUED TO DATE UNKNOWN
RETURNED TO STAFF
OTHER - SEE MINUTES
Council received the report.
D
D
D
n
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 nsull@ci.carlsbad.ca.us
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF APRIL 30. 2008
$271
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
funeral Special Revenue66 ' " $61.8^ _$_40.3
Other a,, ,91.0Internal Service$31.6
A8enCy $22.9 f
Enterprise
$128.2
Total Treasurer's Investment Portfolio at Amortized Cost
April 30,2008 $557.4 million
Pooled Investment Interest Income
Cash Income Fiscal
Year-to-Date *
Current
Month FYTD
22,511,172
Prior
Month FYTD
20,037,187
Current Month
Income
2,473,985
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
February 2008
March 2008
April 2008
Average Life
(Years)
2.08
2.12
2.11
Average Yield
To Maturity
4.43%
4.32%
4.18%
Modified Duration
1.950
1.944
1.838
All pooled investments have been made in accordance with the City's Investment Policy adopted
January 2, 1985 and last revised February 13, 2007. All investments were initially made in
accordance with the City's Investment Policy. Events subsequent to the purchase might have
resulted in some investments not being in compliance with the current policy. These events are
typically a change in the City's Investment Policy, a change in the credit rating subsequent to a
purchase, or a temporary reduction in total portfolio assets. See Exhibit 8 for details.
The pooled investment portfolio has the ability to meet the City's cash flow demands for the next
six (6) months.
EXHIBITS FOR POOLED INVESTMENTS:
1. Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield
2. Investment Portfolio Breakdown Of Maturities
3. Yield Comparison Graph
4. Market Yield Curve
5. Cumulative Cash Income Graph
6. Fourth Quarter Transactions
7. Detailed Investment Report
8. Fund Equity in Pooled Investments
9. Corporate Note and Commercial Paper Ratings
10. Percentage Weightings by Corporate Note Issuer
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF APRIL 30, 2008
BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS
AVERAGE YIELD
Class
CD
FN
CP
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANK ACCT
Current Month
33,000
3,975,473
0
0
406,540,818
78,614,839
65,160,618
-
2,203,683
919,408
Prior Month
33,000
3,961,589
0
0
429,185,030
75,617,116
31,842,834
-
2,097,889
480,018
Current Month
33,000
3,988,800
0
0
413,029,102
79,508,367
65,160,618
0
2,203,683
919,408
Prior Month
33,000
3,981,200
0
0
437,991,155
77,297,050
31 ,842,834
0
2,097,889
480,018
Cash Income
Year to Date
15,574
0
0
0
18,154,217
2,674,783
1,600,339
10,154
56,105
0
Current Month
1.88
4.32
0.00
0.00
4.21
4.75
3.42
1.95
0.87
0.87
Prior Month
1.88
4.32
0.00
0.00
4.26
4.77
4.21
1.96
1.05
1.05
TOTALS $557,447,838 $543,217,477 $564,842,978 $553,723,146 $22,511,172 4.18%4.32%
CD - Certificate of Deposit
FN - Federal Discount Notes
CP - Corporate Paper
TR - US Treasury
FA - Federal Agency
CN - Corporate Notes
LAIF - Local Agency Investment Fund
Custody - Investment Cash account
SWEEP - General Fund Overnight Cash acccount
Bank Account - General Fund Cash account
mx
DO
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF APRIL 30, 2008
BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME
CLASS WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR
CD
FN
CP
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANKACCT
TOTALS
% TOTALS
Total within One Year
33,000
3,917,163
0
0
61,560,314
0
65,160,618
0
2,203,683
919,408
$133,794,185 (1)
24.0%
0
0
0
0
26,197,560
0
0
0
0
0
$26,197,560 (1)
4.7%
$159,991,745 (1)
1 TO 5 YEARS
0
0
0
0
318,803,828
78,721,451
0
0
0
0
$397,525,278
71.3%
TOTAL
33,000
3,917,163
0
0
406,561,701
78,721,451
65,160,618
0
2,203,683
919,408
$557,517,023
100.0%
% TOTAL
0.0%
0.7%
0.0%
0.0%
72.9%
14.1% (2)
11.7%
0.0%
0.4%
0.2%
100.0%
28.7%
POLICY: (1) Not less than $124,700,000 to mature within one year. (2/3rds of current year operating budget of $187,100,000.00)
(2) Policy states that not more than 30% of portfolio is to be invested in corporate notes.
x:=cI—I
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ro
YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1996 - APRIL 2008
EX-LAIF
LAIF
°\
MARKET YIELD CURVE
6/30/06, 6/30/07, 04/30/08
Market Rates
5 • ? ——
3.5
2.5
1.5
1
0.5
3Mth 2Yr 5Yr
3Mth 2Yr 5Yr 10 Yr
-•- 06/30/2006
-A- 06/30/2007
- ^- 04/30/2008
4.98
4.86
1.38
5.15
4.84
2.25
5.09
4.89
3.01
5.14
4.99
3.73
10 Yr
X:Ei—i
CO
Cumulative
Millions $
Cumulative Cash Income
FY07-08
(July 07 - June 08)
26
24
22
20
18
16
14
12
10
8
6
4
2
2.82
2.6
Monthly Interest Income
Millions $
2.7
2.4
1.8
2.5
1.8
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
1 Interest Income • -* • Budget —n— Actual
8
7
6
- 5
4
3
- 2
1
0
X:c»—i
DO
City of Carlsbad
TRANSACTIONS FOR PERIOD:
04/01/08 TO 04/30/08 4th QUARTER 2007-2008
Trans
Date
BUYS
APRIL
04/04/2008
04/04/2008
04/01/2008
04/03/2008
04/04/2008
04/04/2008
04/04/2008
04/21/2008
04/21/2008
04/21/2008
04/21/2008
04/21/2008
04/21/2008
MAY
04/17/2008
Investment
Date
04/07/2008
04/07/2008
04/02/2008
04/04/2008
04/07/2008
04/09/2008
04/09/2008
04/22/2008
04/22/2008
04/22/2008
04/24/2008
04/28/2008
04/30/2008
05/14/2008
Maturity
Date Type
12/10/2010
10/15/2010
03/12/2010
07/23/2009
04/07/2009
10/09/2008
01/15/2010
06/30/2009
04/07/2010
05/11/2010
04/10/2013
04/28/2010
04/30/2008
05/14/2013
FA
FA
FA
FA
FA
FA
CN
FA
FA
FA
CN
FA
CN
FA
Security
FHLMC
FNMA
FHLB
FHLB
FHLB
FHLB
WELLS FARGO CO
FHLMC
FFCB
FFCB
Met Life Global Func
FNMA
PRINCIPAL LIFE
FHLB
Call
Date
12/10/2008
10/15/2008
N/A
N/A
10/07/2008
N/A
N/A
N/A
N/A
N/A
N/A
04/28/2009
N/A
05/15/2010
TOTAL FOURTH QUARTER 2007-200
Par
Value
2,000,000.00
1 ,000,000.00
1 ,000,000.00
2,000,000.00
2,000,000.00
1 ,000,000.00
1 ,000,000.00
1 ,000,000.00
2,000,000.00
1 ,000,000.00
1 ,000,000.00
3,000,000.00
1 ,000,000.00
2,000,000.00
21 ,000,000.00
Coupon
3.500%
5.000%
2.750%
3.100%
2.400%
2.200%
4.200%
4.100%
2.375%
5.320%
5.125%
3.000%
4.500%
4.000%
Amount
(Cost)
2,01 1 ,980.00
1,013,145.00
1 ,006,020.00
2,019,092.00
2,000,000.00
1 ,000,000.00
1,018,383.81
1,016,880.00
1 ,984,800.00
1,050,120.00
1 ,003,232.48
2,999,250.00
1 ,000,000.00
2,000,000.00
21,122,903.29
Return
Rate
3.27%
4.44%
2.43%
2.35%
2.40%
2.20%
3.12%
2.65%
2.78%
2.79%
5.05%
3.01%
4.50%
4.00%
3.13%
Interest
175,270.00
112,966.11
47,452.22
61 ,680.22
48,000.00
1 1 ,000.00
55,816.19
31 ,864.44
108,220.83
59,087.78
251 ,024.46
180,750.00
178,375.00
320,000.00
1 ,641 ,507.25
Investment
Return
2,187,250.00
1,126,111.11
1 ,053,472.22
2,080,772.22
2,048,000.00
1 ,01 1 ,000.00
1 ,074,200.00
1 ,048,744.44
2,093,020.83
1,109,207.78
1,254,256.94
3,180,000.00
1,178,375.00
2,320,000.00
22,764,410.54
MATURITIES
APRIL
MAY
04/21/2005
11/04/2004
01/03/2008
11/16/2004
05/19/2005
11/22/2004
04/21/2008
04/30/2008
05/15/2008
05/16/2008
05/19/2008
05/22/2008
FA
FA
FA
FA
FA
FA
FNMA
FHLB
FNMA
FNMA
FNMA
FHLMC
04/21/2006
01/30/2005
N/A
05/16/2005
05/19/2006
11/22/2005
TOTAL FOURTH QUARTER 2007-200
5,000,000.00
3,000,000.00
2,000,000.00
3,000,000.00
5,000,000.00
3,000,000.00
21 ,000,000.00
4.000%
3.565%
6.000%
3.700%
4.000%
3.560%
5,000,000.00
2,999,062.50
2,014,000.00
2,995,312.50
5,000,000.00
2,995,500.00
21 ,003,875.00
4.49%
3.58%
4.03%
3.75%
4.46%
3.65%
4.08%
675,000.00
374,074.17
30,000.00
393,187.50
668,750.00
382,500.00
2,523,51 1 .67
5,675,000.00
3,373,136.67
2,044,000.00
3,388,500.00
5,668,750.00
3,378,000.00
23,527,386.67
X:xi—t
CO
City of Carlsbad
TRANSACTIONS FOR PERIOD:
04/01/08 TO 04/30/08 4th QUARTER 2007-2008
Trans
Date
Investment
Date
Maturity
Date
CALLS and /or SALES
APRIL
11/03/2005
04/04/2006
03/17/2004
03/24/2004
07/21/2005
06/21/2005
04/15/2004
04/05/2004
11/04/2005
04/07/2006
04/13/2004
04/13/2004
07/22/2005
06/22/2005
04/28/2004
04/28/2004
07/02/2008
04/07/2010
04/13/2009
04/13/2009
10/15/2008
01/23/2009
04/28/2009
04/28/2009
Type
FA
FA
FA
FA
FA
FA
FA
FA
Se
FHLB
FHLMC
FHLMC
FHLMC
FHLB
FHLB
FHLMC
FHLMC
Security
TOTAL FOURTH QUARTER 2007-200
STQGICS
FEBRUARY 02/14/2007
JUNE 06/21/2007
FEBRUARY 02/14/2007
EQUITY Time Warner Cable 11 shares
EQUITY Time Warner Cable
EQUITY Time Warner Cable
Call
Date
01/02/2006
04/07/2008
04/13/2008
04/13/2008
04/15/2008
04/23/2008
04/28/2008
04/28/2008
Par
Value
4,000,000.00
3,000,000.00
5,000,000.00
2,000,000.00
700,000.00
6,000,000.00
5,000,000.00
5,000,000.00
30,700,000.00
Par Value is
Amount
Coupon
3.000%
5.270%
2.500%
2.500%
2.750%
3.500%
3.250%
3.250%
(Cost)
3,873
2,992
,960.
,699.
5,000,000.
2,000,000.
677
5,865
4,997
5,000
30,407
,460.
,937.
,500.
,000.
,557.
00
50
00
00
00
50
00
00
00
Return
Rate
5.01%
5.34%
3.56%
3.56%
4.46%
4.18%
.4.16%
4.01%
4.23%
Investment
Interest
525
639
900
,373.33
,700.50
,000.00
360,000.00
99
887
1,052
1,012
5,476
,603.19
,145.83
,500.00
,500.00
,822.85
Cost
4
3
5
2
6
6
6
35
Return
,399,333.33
,632,400.00
,900,000.00
,360,000.00
777,063.19
,753,083.33
,050,000.00
,012,500.00
,884,379.85
Market Value
04/10/2008
shares
shares
! shares
I shares
$0.01 per share
$0.01 per share
$0.01 per share
0.14
-
-
-
commission
--
290.51
26.41
52.82
(329.73)
(40.01)
-
APRIL 04/10/2008 SOLD Class A Common Stock
Fourteen shares of Time Warner Cable (TWC) were distributed to the City in connection with the bankruptcy of Adelphia Communications Corporation.
An additional distribution of cash will be made separately to holders of allowed claims against Adelphia Communications Corporation and Certain Affiliated Debtors.
The City Treasurer has directed one of the City's investment brokers, First Tennessee, to sell the City's shares and remit payment to the City.
INVESTMENT REPORT
AS OF APRIL 30,2008
INVESTMENT
DATE
01/03/2008
11/16/2004
05/19/2005
11/22/2004
12/03/2007
12/21/2006
06/16/2005
07/07/2005
07/28/2003
12/22/2006
12/21/2006
12/28/2006
04/20/2007
05/15/2007
12/22/2006
01/17/2008
04/09/2008
05/21/2007
05/21/2007
12/15/2004
06/27/2005
03/05/2008
04/02/2004
04/16/2004
04/14/2004
04/07/2008
04/28/2004
05/05/2004
05/05/2004
11/08/2007
02/13/2008
03/14/2007
05/15/2007
07/25/2007
08/09/2007
03/05/2008
04/22/2008
02/13/2008
, 07/25/2007
MATURITY
DATE
05/15/2008
05/16/2008
05/19/2008
05/22/2008
06/03/2008
06/06/2008
06/16/2008
07/07/2008
07/28/2008
08/15/2008
08/22/2008
08/28/2008
09/12/2008
09/12/2008
09/19/2008
10/03/2008
10/09/2008
11/03/2008
12/12/2008
12/15/2008
01/26/2009
02/04/2009
03/16/2009
03/16/2009
03/17/2009
04/07/2009
04/28/2009
05/05/2009
05/05/2009
05/12/2009
05/28/2009
06/12/2009
06/12/2009
06/12/2009
06/12/2009
06/12/2009
06/30/2009
07/09/2009
07/20/2009
TYPE
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
SECURITY
FNMA 6.00% DUE 5/15/08 NON-CALL
FNMA 3.70% DUE 5/16/08 CALL 5/16/05
FNMA 4.00% DUE 5/19/08 CALL 5/19/06
FHLMC 3.6% DUE 5/22/08 CALL 11/22/05
FHLB 4.30% DUE 6/3/08 NON-CALL
FNMA 4.08% DUE 6/6/08 CALL 6/6/07
FHLB 3.70% DUE 6/16/08 CALL 6/16/06
FNMA 4.0% DUE 7/07/08 CALL 10/07/05
FHLB 2.00% DUE 07/28/08 CALL 07/28/05
FNMA 4.5% DUE 8/15/08 NON-CALL
FHLB 3.875% DUE 8/22/08 NON-CALL
FHLB 5.125% DUE 8/28/08 CALL 6/28/07
FHLMC 4.875% DUE 9/12/08 NON-CALL
FHLMC 4.875% DUE 9/12/08 NON-CALL
FHLMC 4.48% DUE 9/19/08 NON-CALL
FHLB 4.375% DUE 10/03/08 NON-CALL
FHLB 2.2% DUE 10/09/08 NON-CALL
FNMA 4.900% DUE 11/3/08 NON-CALL
FHLB 5.00% DUE 12/12/08 NON-CALL
FFCB 4.00% DUE 12/15/08 CALL 6/15/05
FNMA 4.00% DUE 01/26/09 CALL 01/26/07
FHLB 5.00% DUE 2/4/09 NON-CALL
FNMA 3.125% DUE 03/16/09 CALL 03/16/06
FNMA 3.125% DUE 03/16/09 CALL 03/16/06
FHLMC 2.5% DUE 3/17/09 CALL 3/17/06
FHLB 2.4% DUE 4/7/09 CALL 10/07/08
FHLMC 2.750% DUE 04/28/09 CALL 04/28/06
FHLMC DUE 05/05/09 CALL 05/05/05
FHLMC 3.00% DUE 5/5/09 CALL 05/05/06
FFC 9.55% DUR 5/12/09 NON-CALL
FHLB 4.07% DUE 5/28/09 NON-CALL
FHLB 5.25% DUE 6/12/09 NON-CALL
FHLB 5.25% DUE 6/12/09 NON-CALL
FHLB 5.25% DUE 6/12/09 NON-CALL
FHLB 5.250% DUE 6/12/09 NON-CALL
FHLB 5.250% DUE 6/12/09 NON-CALL
FHLMC 4.10% DUE 6/30/09 NON-CALL
FHLMC 3.25% DUE 7/9/09 NON-CALL
FFCB 5.15% DUE 7/20/09 NON-CALL
PAR
VALUE
2,000,000.00
3,000,000.00
5,000,000.00
3,000,000.00
3,000,000.00
3,763,000.00
3,000,000.00
5,000,000.00
3,000,000.00
3,000,000.00
5,000,000.00
8,000,000.00
2,000,000.00
5,000,000.00
3,000,000.00
1,000,000.00
1,000,000.00
3,000,000.00
1,000,000.00
3,000,000.00
3,000,000.00
1,315,000.00
3,000,000.00
3,000,000.00
2,000,000.00
2,000,000.00
5,000,000.00
5,000,000.00
5,000,000.00
2,000,000.00
1,000,000.00
2,000,000.00
5,000,000.00
2,000,000.00
2,000,000.00
4,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
INVESTED
AMOUNT
2,014,000.00
2,995,312.50
5,000,000.00
2,995,500.00
3,000,000.00
3,714,081.00
3,000,000.00
5,000,000.00
2,983,125.00
2,979,330.00
4,922,457.90
8,000,000.00
1 ,996,570.00
4,983,850.00
2,977,680.00
1,008,094.00
1,000,000.00
2,990,820.00
998,850.00
3,000,000.00
2,993,100.00
1,347,059.70
2,973,270.00
2,913,835.02
1 ,980,625.00
2,000,000.00
5,000,000.00
5,000,000.00
5,000,000.00
2,155,378.00
1,019,418.00
2,022,809.38
5,030,000.00
2,006,972.34
2,015,549.68
4,150,240.00
1,016,880.00
2,020,560.00
1,001,858.80
RETURN
RATE
4.030%
3.748%
4.458%
3.646%
4.300%
5.014%
4.352%
4.500%
3.284%
4.937%
4.850%
5.125%
5.000%
5.125%
4.927%
3.209%
2.200%
5.120%
5.075%
4.000%
4.069%
2.287%
3.321%
3.770%
4.200%
2.400%
3.474%
4.262%
4.200%
4.190%
2.530%
4.705%
4.940%
5.050%
4.800%
2.230%
2.646%
2.500%
5.050%
INTEREST
30,000.00
393,187.50
668,750.00
382,500.00
64,500.00
272,817.50
393,000.00
700,000.00
496,875.00
243,045.00
400,996.96
683,333.33
139,388.33
339,118.75
256,400.00
23,017.11
11,000.00
222,330.00
79,066.66
480,000.00
436,566.67
28,028.49
491,313.33
547,102.48
415,625.00
48,000.00
875,000.00
1 ,075,000.00
1,050,000.00
133,244.22
33,152.83
212,857.29
514,687.50
190,485.99
177,825.32
116,343.33
31 ,864.44
70,801.11
100,425.92
INVESTMENT
RETURN
2,044,000.00
3,388,500.00
5,668,750.00
3,378,000.00
3,064,500.00
3,986,898.50
3,393,000.00
5,700,000.00
3,480,000.00
3,222,375.00
5,323,454.86
8,683,333.33
2,135,958.33
5,322,968.75
3,234,080.00
1,031,111.11
1,011,000.00
3,213,150.00
1,077,916.66
3,480,000.00
3,429,666.67
1,375,088.19
3,464,583.33
3,460,937.50
2,396,250.00
2,048,000.00
5,875,000.00
6,075,000.00
6,050,000.00
2,288,622.22
1 ,052,570.83
2,235,666.67
5,544,687.50
2,197,458.33
2,193,375.00
4,266,583.33
1,048,744.44
2,091,361.11
1,102,284.72
TERM
(Days)
133
1,277
1,096
1,277
183
533
1,096
1,096
1,827
602
610
609
511
486
637
260
183
532
571
1,461
1,309
336
1,809
1,795
1,798
365
1,826
1,826
1,826
551
470
821
759
688
673
464
434
512
726
m
Xrei — i
CO1— 1— 1
— 1
INVESTMENT REPORT
AS OF APRIL 30,2008
INVESTMENT
DATE
08/09/2007
04/04/2008
01/22/2008
01/04/2008
03/13/2008
03/25/2008
05/15/2007
11/01/2006
01/22/2008
08/17/2007
03/14/2007
01/22/2008
02/01/2008
11/13/2007
03/19/2007
03/05/2008
01/22/2008
03/06/2008
01/28/2008
01/31/2008
01/22/2008
01/22/2008
01/22/2008
02/01/2008
02/04/2008
02/04/2008
01/28/2008
01/31/2008
01/28/2008
02/04/2008
02/13/2008
04/02/2008
04/22/2008
01/28/2008
04/28/2008
07/25/2007
04/22/2008
12/21/2007
02/26/2008
10/09/2007
MATURITY
DATE
07/20/2009
07/23/2009
07/27/2009
07/30/2009
07/30/2009
07/30/2009
08/01/2009
08/05/2009
08/05/2009
08/17/2009
09/11/2009
09/11/2009
09/11/2009
09/30/2009
10/02/2009
10/23/2009
10/28/2009
11/06/2009
11/13/2009
11/13/2009
11/16/2009
11/18/2009
12/11/2009
01/29/2010
02/04/2010
02/04/2010
02/12/2010
02/12/2010
03/08/2010
03/12/2010
03/12/2010
03/12/2010
04/07/2010
04/28/2010
04/28/2010
05/03/2010
05/11/2010
05/28/2010
06/11/2010
06/22/2010
TYPE
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
SECURITY
FFCB 5.150% DUE 7/20/09 NON-CALL
FHLB 3.1 % DUE 7/23/09 NON-CALL
FHLB 4.180% DUE 7/27/09 NON-CALL
FHLMC 4.375% DUE 7/30/09 NON-CALL
FHLMC 4.375% DUE 7/30/09 NON-CALL
FHLMC 4.375% DUE 7/30/09 NON-CALL
HUD 4.430% DUE 8/1/09 NON-CALL
FHLB 5.25% DUE 8/05/09 NON-CALL
FHLB 5.25% DUE 8/5/09 NON-CALL
FFCB 5.00% DUE 8/17/09 NON-CALL
FHLB 4.378% DUE 9/11/09 NON-CALL
FHLB 4.375% DUE 9/11/09 NON-CALL
FHLB 5.25% DUE 9/11/09 NON-CALL
FHLMC 3.5$ DUE 9/30/09 NON-CALL
FHLB 5.0% DUE 10/2/09 NON-CALL
FFCB 5.00% DUE 10/23/09 NON-CALL
FNMA 4.0% DUE 10/28/09 NON-CALL
FFCB 4.350% DUE 11/06/09 NON-CALL
FFCB 4.125% DUE 11/13/09 NON-CALL
FHLB 4.25% DUE 11/13/09 NON-CALL
FNMA 4.0% DUE 11/16/09 NON-CALL
FHLMC 4.125% DUE 11/18/09 NON-CALL
FHLB 5.0% DUE 12/11/09 NON-CALL
FHLMC 3.25% DUE 1/29/10 CALL 7/29/08
FHLB 3.00% DUE 2/04/10 CALL 11/4/08
FHLB 3.20% DUE 2/4/10 CALL 8/4/08
FHLB 3.875% DUE 2/12/10 NON-CALL
FHLB 37.375% DUE 2/12/10 NON-CALL
FNMA 4.40% DUE 03/08/10 NON-CALL
FHLB 2.375% DUE 3/12/10 NON-CALL
FHLB 2.375% DUE 3/12/10 NON-CALL
FHLB 2.750% DUE 3/12/10 NON-CALL
FFCB 2.375% DUE 4/7/10 NON-CALL
FHLMC 4.02% DUE 4/28/10 NON-CALL
FNMA 3.0% DUE 4/28/10 CALL 4/28/09
FFCB 4.780% DUE 5/03/10 NON-CALL
FFCB 5.320% DUE 5/11/10 NON-CALL
FNMA 3.625% DUE 5/28/10 NON-CALL
FHLB 4.25% DUE 6/11/10 NON-CALL
FHLB 4.5% DUE 6/22/10 NON-CALL
PAR
VALUE
2,000,000.00
2,000,000.00
500,000.00
1,270,000.00
1,000,000.00
2,000,000.00
1 ,000,000.00
5,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
3,000,000.00
1,000,000.00
1 ,000,000.00
3,000,000.00
2,000,000.00
500,000.00
1 ,000,000.00
2,000,000.00
1,000,000.00
2,000,000.00
2,080,000.00
3,000,000.00
3,000,000.00
650,000.00
1 ,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
1 ,000,000.00
2,000,000.00
1,500,000.00
3,000,000.00
2,000,000.00
1 ,000,000.00
2,000,000.00
1,000,000.00
3,000,000.00
INVESTED
AMOUNT
2,012,808.76
2,019,092.00
508,810.00
1 ,286,826.23
1 ,027,740.00
2,052,000.00
990,198.00
5,048,115.85
2,070,366.00
3,000,000.00
1 ,984,643.55
3,070,602.00
1,041,519.37
990,283.25
3,014,820.00
2,090,620.00
508,645.00
1,031,080.00
2,049,060.00
1 ,024,930.00
2,038,020.00
2,124,168.80
3,114,720.00
3,000,000.00
650,000.00
1,000,000.00
1 ,020,550.00
2,177,668.00
2,064,240.00
1 ,989,880.00
1,994,095.84
1,006,020.00
1,984,800.00
1 ,537,935.00
2,999,250.00
1 ,981 ,720.00
1,050,120.00
1,996,499.26
1,030,795.00
2,991,510.00
RETURN
RATE
4.800%
2.350%
2.981%
3.500%
2.320%
2.400%
4.900%
4.870%
2.891%
5.000%
4.705%
2.890%
2.600%
4.040%
4.790%
2.160%
2.986%
2.434%
2.711%
2.805%
2.916%
2.918%
2.900%
3.250%
3.000%
3.200%
2.830%
2.841%
2.821%
2.622%
2.520%
2.430%
2.776%
2.850%
3.013%
5.135%
2.790%
3.700%
2.849%
4.610%
INTEREST
187,755.13
61 ,680.22
22,830.28
70,530.37
32,659.31
65,881 .94
107,754.22
676,675.82
90,925.67
300,000.00
233,377.28
144,137.58
43,073.96
75,536.19
365,596.67
72,713.33
26,688.33
41 ,420.00
98,752.50
50,861.67
107,313.33
112,177.87
168,196.67
194,458.33
39,000.00
64,000.00
58,456.94
122,248.67
121,537.78
110,133.89
104,730.55
47,452.22
108,220.83
97,740.00
180,750.00
283,304.44
59,087.78
180,118.80
66,482.78
373,365.00
INVESTMENT
RETURN
2,200,563.89
2,080,772.22
531,640.28
1 ,357,356.60
1 ,060,399.31
2,117,881.94
1,097,952.22
5,724,791.67
2,161,291.67
3,300,000.00
2,218,020.83
3,214,739.58
1,084,593.33
1,065,819.44
3,380,416.67
2,163,333.33
535,333.33
1 ,072,500.00
2,147,812.50
1,075,791.67
2,145,333.33
2,236,346.67
3,282,916.67
3,194,458.33
689,000.00
1,064,000.00
1,079,006.94
2,299,916.67
2,185,777.78
2,100,013.89
2,098,826.39
1 ,053,472.22
2,093,020.83
1 ,635,675.00
3,180,000.00
2,265,024.44
1,109,207.78
2,176,618.06
1,097,277.78
3,364,875.00
TERM
(Davsl
711
475
552
573
504
492
809
1,008
561
731
912
598
588
687
928
597
645
610
655
652
664
666
689
728
731
731
746
743
770
767
758
709
715
821
730
1,013
749
889
836
987
INVESTMENT REPORT
AS OF APRIL 30, 2008
INVESTMENT
DATE
06/30/2006
07/25/2007
03/12/2008
02/20/2008
02/13/2008
10/30/2007
02/12/2008
09/18/2007
09/26/2007
09/26/2007
10/30/2007
04/07/2008
11/04/2005
11/14/2005
11/17/2005
04/07/2008
12/15/2005
01/07/2008
02/09/2006
02/24/2006
03/29/2006
04/28/2006
05/03/2006
05/17/2006
06/09/2006
11/01/2006
02/20/2008
03/24/2006
04/20/2006
04/28/2006
11/20/2007
01/28/2008
08/31/2007
03/15/2007
06/30/2006
03/09/2007
08/01/2007
08/31/2007
03/19/2007
03/05/2008
MATURITY
DATE
06/30/2010
07/06/2010
07/26/2010
07/28/2010
07/30/2010
08/10/2010
08/12/2010
08/23/2010
09/10/2010
09/13/2010
10/01/2010
10/15/2010
11/04/2010
11/04/2010
11/17/2010
12/10/2010
12/15/2010
01/07/2011
02/09/2011
02/24/2011
02/24/2011
02/24/2011
02/24/201 1
02/24/201 1
02/24/2011
02/24/2011
03/11/2011
03/24/201 1
04/06/2011
04/06/201 1
05/20/201 1
05/20/201 1
06/10/2011
06/15/2011
06/30/201 1
07/14/2011
07/15/2011
07/15/2011
08/15/2011
08/19/2011
TYPE
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
SECURITY
FHLMC 5.520% DUE 6/30/10 CALL 6/30/08
FNMA 5.125% DUE 7/6/10 NON-CALL
FHLB 4.44% DUE 7/26/10 NON-CALL
FNMA 4.70% DUE 7/28/10 NON-CALL
FHLB 5.00% DUE 7/30/10 NON-CALL
FHLB 4.7% DUE 8/10/10 NON-CALL
FHLB 3.190% DUE 8/12/10 CALL 8/12/08
FHLMC 5.125% DUE 8/23/10 NON-CALL
FHLB 5.125% DUR 9/10/10 NON-CALL
FFCB 5.25% DUE 9/13/10 NON-CALL
FHLMC 5.00% DUE 10/01/10 CALL 10/01/08
FNMA 5.00% DUE 10/15/10 CALL 10/15/08
FHLMC 4.8% DUE 11/04/10 CALL 11/04/08
FHLMC 4.8% DUE 11/04/10 CALL 11/04/08
FHLB 5.03% DUE 11/17/10 CALL 11/17/08
FHLMC 3.5% DUE 12/10/10 CALL 12/10/08
FHLMC 5.035% DUE 12/15/10 CALL 12/15/08
FHLB 4.125% DUE 1/7/11 CALL 1/7/09
FHLB 5.00% DUE 2/9/11 CALL 2/09/09
FHLB 5.15% DUE 2/24/11 CALL 2/24/09
FHLMC 5.25% DUE 2/24/11 CALL 2/24/09
FHLMC 5.25% DUE 2/24/11 CALL 2/24/09
FHLMC 5.25% DUE 2/24/11 CALL 2/24/09
FNMA 5.16% DUE 2/24/11 CALL 24/09
FHLMC 5.25% DUE 2/24/11 CALL 2/24/09
FHLMC 5.25% DUE 2/24/11 CALL 2/24/09
FHLB 2.875% DUE 3/11/11 NON-CALL
FHLB 5.25% DUE 3/24/11 CALL 3/24/09
FNMA 5.25% DUE 4/6/11 CALL 4/06/09
FNMA 5.25% DUE 4/6/11 CALL 4/06/09
FHLB 4.5% DUE 5/20/11 CALL 11/20/09
FHLB 4.5% DUE 5/20/11 CALL 11/20/09
FHLB 5.275% DUE 6/10/11 NON-CALL
FHLMC 5.03% DUE 6/15/11 CALL 6/15/09
FHLB 5.650% DUE 6/30/11 CALL 6/30/09
FNMA 3.64% DUE 7/14/11 NON-CALL
FAMCA 5.50% DUE 7/15/11 NON-CALL
FAMCA 5.50% DUE 7/15/11 NON-CALL
FHLB 5.75% DUE 8/15/11 NON-CALL
FHLB 3.55% DUE 8/19/11 NON-CALL
PAR
VALUE
3,000,000.00
1 ,000,000.00
1 ,000,000.00
3,000,000.00
2,550,000.00
1,000,000.00
3,000,000.00
3,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
1,000,000.00
5,000,000.00
5,000,000.00
5,000,000.00
2,000,000.00
5,000,000.00
3,000,000.00
5,000,000.00
3,320,000.00
3,000,000.00
5,000,000.00
3,000,000.00
3,000,000.00
3,000,000.00
5,000,000.00
3,000,000.00
3,000,000.00
3,000,000.00
2,421,000.00
2,000,000.00
3,000,000.00
1,000,000.00
5,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
629,000.00
3,000,000.00
1 ,000,000.00
INVESTED
AMOUNT
3,000,000.00
1,000,640.00
1,043,000.00
3,134,430.00
2,688,248.25
1 ,009,328.80
3,000,000.00
3,048,120.00
2,034,188.23
2,041 ,700.00
3,010,560.00
1,013,145.00
4,970,500.00
4,945,500.00
5,000,000.00
2,011,980.00
5,000,000.00
3,000,000.00
5,000,000.00
3,320,000.00
2,991,000.00
4,954,450.00
2,971 ,860.00
2,958,763.29
2,967,775.85
5,015,000.00
2,993,378.76
3,000,000.00
2,976,375.00
2,396,790.00
2,016,000.00
3,078,630.00
1 ,020,930.00
5,000,000.00
2,000,000.00
1,909,480.00
3,034,380.00
644,775.32
3,111,810.00
1 ,000,000.00
RETURN
RATE
5.520%
5.100%
2.559%
2.786%
2.710%
4.337%
3.190%
4.530%
4.500%
4.490%
4.868%
4.443%
4.935%
5.050%
5.030%
3.265%
5.035%
4.125%
5.000%
5.150%
5.319%
5.466%
5.473%
5.489%
5.510%
5.169%
2.950%
5.250%
5.433%
4.483%
4.252%
3.651%
4.761%
5.030%
5.650%
4.805%
5.175%
4.781%
4.800%
3.550%
INTEREST
662,400.00
150,405.14
62,326.67
209,453.33
175,897.58
121,226.76
239,250.00
402,452.92
268,756.21
269,508.33
427,356.67
112,966.11
1,229,500.00
1,247,833.33
1 ,257,500.00
175,270.00
1,258,750.00
371,250.00
1,250,000.00
854,900.00
781,187.50
1,311,383.33
785,452.50
779,546.71
773,786.65
1,117,395.83
270,402.49
787,500.00
805,000.00
651,955.12
299,000.00
368,370.00
181,976.25
1 ,068,875.00
565,000.00
406,997.78
618,286.67
118,184.21
648,148.33
122,672.22
INVESTMENT
RETURN
3,662,400.00
1,151,045.14
1,105,326.67
3,343,883.33
2,864,145.83
1,130,555.56
3,239,250.00
3,450,572.92
2,302,944.44
2,311,208.33
3,437,916.67
1,126,111.11
6,200,000.00
6,193,333.33
6,257,500.00
2,187,250.00
6,258,750.00
3,371,250.00
6,250,000.00
4,174,900.00
3,772,187.50
6,265,833.33
3,757,312.50
3,738,310.00
3,741,562.50
6,132,395.83
3,263,781 .25
3,787,500.00
3,781,375.00
3,048,745.12
2,315,000.00
3,447,000.00
1,202,906.25
6,068,875.00
2,565,000.00
2,316,477.78
3,652,666.67
762,959.53
3,759,958.33
1,122,672.22
TERM
(Days)
1,461
1,077
866
889
898
1,015
912
1,070
1,080
1,083
1,067
921
1,826
1,816
1,826
977
1,826
1,096
1,826
1,826
1,793
1,763
1,758
1,744
1,721
1,576
1,115
1,826
1,812
1,804
1,277
1,208
1,379
1,553
1,826
1,588
1,444
1,414
1,610
1,262
INVESTMENT REPORT
AS OF APRIL 30,2008
INVESTMENT
DATE
03/05/2007
03/15/2007
10/30/2007
03/15/2007
10/05/2007
12/13/2007
10/19/2007
03/05/2008
03/19/2007
02/13/2008
08/07/2007
03/26/2007
03/26/2007
04/20/2007
08/17/2007
05/21/2007
07/25/2007
08/03/2007
08/17/2007
07/25/2007
07/25/2007
03/18/2008
08/07/2007
12/10/2007
07/30/2007
09/10/2007
10/29/2007
10/29/2007
12/10/2007
10/22/2007
12/14/2007
11/28/2007
12/06/2007
12/14/2007
12/21/2007
12/21/2007
01/23/2008
01/14/2008
01/28/2008
02/04/2008
MATURITY
PATE
09/09/201 1
09/09/201 1
09/15/2011
10/05/2011
10/05/2011
10/06/2011
10/19/2011
10/27/2011
11/18/2011
02/13/2012
03/02/2012
03/26/2012
03/26/2012
03/26/2012
04/03/2012
04/12/2012
05/23/2012
05/23/2012
05/29/2012
06/08/2012
06/08/2012
06/26/2012
06/29/2012
07/20/2012
07/30/2012
09/10/2012
10/01/2012
10/15/2012
10/17/2012
10/22/2012
10/22/2012
10/30/2012
10/30/2012
11/14/2012
12/21/2012
12/21/2012
01/07/2013
01/14/2013
01/28/2013
01/30/2013
TYPE
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
SECURITY
FHLB 5.00% DUE 9/9/11 NON-CALL
FHLB 5.00% DUE 9/9/11 NON-CALL
FHLMC 5.50% DUE 9/15/11 NON-CALL
FHLB 4.875% DUE 10/05/11 NON-CALL
FHLB 4.9% DUE 10/05/11 CALL 10/05/09
FHLB 5.25% CUE 10/06/11 CALL 10/06/08
FHLB 5.00% DUE 10/19/11 CALL 10/19/09
FHLB 5.30% DUE 10/27/11 CALL 10/27/09
FHLB 4.875% DUE 11/18/11 NON-CALL
FFCB 3.875% DUE 2/13/12 CALL 5/13/08
FNMA 5.375% DUE 3/02/12 CALL 9/2/08
FHLMC 5.0% DUE 3/26/12 CALL 3/26/10
FHLMC 5.0% DUE 3/26/12 CALL 3/26/10
FHLMC 5.0% DUE 3/26/12 CALL 3/26/10
FHLMC 5.25% DUE 4/3/12 CALL
FFCB 4.875% DUE 4/12/12 NON-CALL
TVA 6.790% DUE 5/23/12 NON-CALL
FHLMC 5.65% DUE 5/23/12 CALL 5/23/08
FNMA 5.47% DUE 5/29/12 CALL
FHLB 5.375% DUE 6/8/12 NON-CALL
FHLB 5.375% DUE 6/8/12 NON-CALL
FHLB 5.750% DUE 6/26/12 CALL 6/26/09
FNMA 5.625% DUE 6/29/12 CALL 12/29/08
FHLB 5.58% DUE 7/20/12 CALL 7/20/10
FHLB 5.52% DUE 7/30/12 CALL 7/30/10
FNMA 5.20% DUE 9/10/12 CALL 9/13/09
FHLMC 5.25% DUE 10/01/12 CALL 10/01/08
FHLMC 5.05% DUE 10/15/12 CALL 10/15/09
FFCB 4.5% DUE 10/17/12 NON-CALL
FHLB 5.00% DUE 10/22/12 CALL 4/22/10
FHLB 5.25% DUE 10/22/12 CALL 10/22/08
FNMA 5.00% DUE 10/30/12 CALL 10/30/09
FNMA 5.00% DUE 10/30/12 CALL 10/30/09
FHLB 5.025% DUE 11/14/12 CALL 11/14/08
FHLMC 4.375% DUE 12/21/12 CALL 12/21/09
FHLMC 4.375% DUE 12/21/12 CALL 12/21/09
FHLB 4.7% DUE 1/7/13 CALL 1/7/10
FHLB 4.25% DUE 01/14/13 CALL 10/14/08
FHLB 4.20% DUE 01/28/13 CALL 01/28/09
FHLB 4.35% DUE 1/30/13 CALL 1/30/09
PAR
VALUE
2,000,000.00
3,000,000.00
3,000,000.00
3,000,000.00
2,000,000.00
1,000,000.00
3,000,000.00
2,000,000.00
3,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
1,000,000.00
3,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
1 ,000,000.00
1,770,000.00
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
2,000,000.00
5,000,000.00
4,000,000.00
2,000,000.00
3,000,000.00
3,000,000.00
4,000,000.00
INVESTED
AMOUNT
2,018,200.00
3,032,352.00
3,117,300.00
3,018,777.00
2,000,000.00
1 ,009,692.00
3,000,000.00
2,085,000.00
3,009,690.00
998,700.00
1,994,000.00
2,000,000.00
3,000,000.00
999,687.50
2,998,500.00
1 ,987,880.00
2,130,980.00
1,996,000.00
1,998,000.00
1,005,040.00
1 ,005,254.43
2,075,680.00
2,005,000.00
1,037,000.00
1,770,000.00
1 ,000,000.00
1,005,781.25
1,006,875.00
2,034,780.00
2,000,000.00
2,008,162.00
3,033,000.00
2,030,000.00
2,006,200.00
5,000,000.00
4,000,000.00
2,056,800.00
3,000,000.00
3,000,000.00
4,040,000.00
RETURN
RATE
4.773%
4.730%
4.390%
4.720%
4.900%
4.966%
5.000%
4.033%
4.795%
3.910%
5.449%
5.000%
5.000%
5.006%
5.261%
5.015%
5.235%
5.696%
5.490%
5.255%
5.250%
4.760%
5.564%
4.677%
5.520%
5.200%
5.115%
4.892%
4.100%
5.000%
5.152%
4.746%
4.653%
4.952%
4.675%
4.675%
4.061%
4.250%
4.200%
4.126%
INTEREST
432,911.11
640,148.00
522,075.00
647,473.00
392,000.00
190,537.17
600,000.00
301,311.11
672,403.75
156,300.00
497,215.28
500,000.00
750,000.00
246,979.17
730,375.00
489,057.50
524,632.22
547,027.78
525,296.67
256,692.64
256,478.21
415,625.56
545,625.00
220,300.00
488,520.00
260,000.00
252,635.42
243,661.11
401,970.00
500,000.00
501,671.33
705,333.33
460,000.00
487,925.00
1,168,750.00
935,000.00
409,022.22
637,500.00
630,000.00
828,066.67
INVESTMENT
RETURN
2,451,111.11
3,672,500.00
3,639,375.00
3,666,250.00
2,392,000.00
1,200,229.17
3,600,000.00
2,386,311.11
3,682,093.75
1,155,000.00
2,491,215.28
2,500,000.00
3,750,000.00
1,246,666.67
3,728,875.00
2,476,937.50
2,655,612.22
2,543,027.78
2,523,296.67
1,261,732.64
1 ,261 ,732.64
2,491 ,305.56
2,550,625.00
1,257,300.00
2,258,520.00
1,260,000.00
1,258,416.67
1,250,536.11
2,436,750.00
2,500,000.00
2,509,833.33
3,738,333.33
2,490,000.00
2,494,125.00
6,168,750.00
4,935,000.00
2,465,822.22
3,637,500.00
3,630,000.00
4,868,066.67
TERM
(Days)
1,649
1,639
1,416
1,665
1,461
1,393
1,461
1,331
1,705
1,461
1,669
1,827
1,827
1,802
1,691
1,788
1,764
1,755
1,747
1,780
1,780
1,561
1,788
1,684
1,827
1,827
1,799
1,813
1,773
1,827
1,774
1,798
1,790
1,797
1,827
1,827
1,811
1,827
1,827
1,822
INVESTMENT REPORT
AS OF APRIL 30,2008
ESTMENT
DATE
02/20/2008
03/10/2008
03/18/2008
08/24/2005
12/27/2007
03/02/2008
04/24/2007
05/23/2007
11/03/2006
11/01/2007
01/30/2008
01/31/2008
04/09/2008
03/19/2008
11/01/2007
03/19/2008
02/03/2006
01/31/2008
03/16/2007
10/11/2007
09/28/2007
02/17/2006
03/30/2006
06/20/2006
04/19/2006
06/12/2006
04/16/2007
05/21/2007
05/29/2007
MATURITY
DATE
02/20/2013
03/08/2013
03/18/2013
08/11/2008
06/23/2008
03/02/2009
08/03/2009
08/10/2009
09/10/2009
10/27/2009
01/15/2010
01/15/2010
01/15/2010
06/15/2010
07/01/2010
07/01/2010
07/29/2010
08/09/2010
08/15/2010
08/15/2010
08/16/2010
02/14/2011
02/14/2011
02/14/2011
03/01/2011
04/28/201 1
04/28/2011
05/18/2011
11/15/2011
TYPE
FA
FA
FA
FA
FN
CD
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
SECURITY
FHLB 4.00% DUE 2/20/1 3 CALL 2/20/09
FHLB 3.50% DUE 3/8/13 NON-CALL
FHLMC 4.00% DUE 3/18/13 CALL 9/18/08
SUB-TOTAL
Poinsettia District Investment
FFCB 4.3% DUE 08/1 1/08 NON-CALL
SUB-TOTAL
Federal Investments Total
FMCDN DUE 6/23/08 NON-CALL
SUB-TOTAL
WELLS FARGO BANK 9218910637
SUB-TOTAL
BANK OF AMERICA 4.625% DUE 8/3/09 NON-CALL
WAL-MART 6.875% DUE 8/10/09 NON-CALL
MERRILL LYNCH 4.125% DUE 9/10/09 NON-CALL
GENERAL ELECTRIC 5.250% DUE 10/27/09 NON-CALL
BERKSHIRHATWY4.125% DUE 1/15/10 NON-CALL
BERKSHIRHATWY4.125% DUE 1/15/10 NON-CALL
WELLS FARGO CO 4.2% DUE 1/15/10 NON-CALL
GOLDMAN SACHS 4.50% DUE 6/15/10 NON-CALL
WAL-MART 4.125% DUE 7/01/10 NON-CALL
WAL-MART 4.125% DUE 7/01/10 NON-CALL
US BANCORP 4.50% DUE 7/29/10 NON-CALL
WELLS FARGO 4.625% DUE 08/09/10 NON-CALL
WAL-MART 4.75% DUE 8/15/10 NON-CALL
WAL-MART 4.75% DUE 8/15/10 NON-CALL
NEW YORK LIFE 4.625% DUE 8/16/10 NON-CALL
CITIGROUP 5.125% DUE 2/14/11 NON-CALL
CITIGROUP 5.125% DUE 2/14/11 NON-CALL
CITIGROUP 5.125% DUE 2/14/11 NON-CALL
HOME DEPOT 5.20% DUE 3/1/1 1 NON-CALL
GENERAL ELECTRIC 5.50% DUE 4/28/11 NON-CALL
GENERAL ELECTRIC 5.50% DUE 4/28/11 NON-CALL
TOYOTA 5.450% DUE 5/18/1 1 NON-CALL
GENERAL ELECTRIC 5.50% DUE 11/15/11 CALL 11/15/08
PAR
VALUE
4,000,000.00
3,000,000.00
1 ,000,000.00
401 ,268,000.00
2,985,000.00
2,985,000.00
404,253,000.00
4,000,000.00
4,000,000.00
33,000.00
33,000.00
2,000,000.00
5,000,000.00
5,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
1 ,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
1 ,000,000.00
5,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
3,000,000.00
3,000,000.00
4,000,000.00
1,850,000.00
INVESTED
AMOUNT
4,000,000.00
2,963,940.00
999,000.00
403,571,387.91
2,990,313.30
2,990,313.30
406,561,701.21
3,917,162.78
3,917,162.78
33,000.00
33,000.00
1,983,918.00
5,187,303.82
4,884,751.43
2,030,120.00
2,040,548.16
2,038,582.81
1,018,383.81
1 ,025,648.53
991,910.00
2,060,389.92
2,952,150.09
2,063,614.72
3,002,689.16
1,993,580.00
987,620.00
5,000,000.00
1,991,793.10
1 ,969,446.60
2,974,590.00
3,006,145.34
3,048,646.38
4,054,280.00
1,850,000.00
RETURN
RATE
4.000%
3.765%
4.022%
4.298%
4.235%
0.031%
4.212%
4.324%
4.324%
1.880%
1.880%
5.000%
5.060%
5.000%
4.450%
3.050%
3.100%
3.120%
3.300%
4.448%
2.750%
4.900%
3.300%
4.720%
4.870%
5.090%
5.125%
5.220%
5.500%
5.400%
5.450%
5.050%
5.070%
5.500%
INTEREST
800,000.00
560,476.67
201,000.00
62,935,395.97
375,116.66
375,116.66
63,310,512.63
82,837.22
82,837.22
13,081.60
13,081.60
226,519.50
573,720.49
703,633.99
178,713.33
121,014.34
122,750.52
55,816.19
75,101.47
118,090.00
127,985.08
653,849.91
169,690.84
483,790.01
276,642.22
145,734.17
1,279,114.58
507,609.68
507,178.40
784,610.00
798,687.99
616,853.62
815,903.33
453,918.06
INVESTMENT
RETURN
4,800,000.00
3,524,416.67
1 ,200,000.00
466,506,783.88
3,365,429.96
3,365,429.96
469,872,214
4,000,000.00
4,000,000.00
503,847.08
503,847.08
2,210,437.50
5,761,024.31
5,588,385.42
2,208,833.33
2,161,562.50
2,161,333.33
1 ,074,200.00
1,100,750.00
1,110,000.00
2,188,375.00
3,606,000.00
2,233,305.56
3,486,479.17
2,270,222.22
1,133,354.17
6,279,114.58
2,499,402.78
2,476,625.00
3,759,200.00
3,804,833.33
3,665,500.00
4,870,183.33
2,303,918.06
TERM
(Days)
1,827
1,824
1,826
1,195
1,083
1,083
2,278
179
179
365
365
832
810
1,042
726
716
715
646
818
973
834
1,637
921
1 ,248
1,039
1,053
1,823
1,782
1,700
1,777
1,781
1,473
1,458
1,631
INVESTMENT REPORT
AS OF APRIL 30, 2008
INVESTMENT
DATE
03/20/2007
10/11/2007
11/15/2007
04/30/2008
08/31/2007
08/31/2007
10/31/2007
11/23/2007
01/30/2008
04/24/2008
MATURITY
DATE
02/15/2012
02/15/2012
02/15/2012
04/16/2012
06/15/2012
08/15/2012
10/19/2012
10/19/2012
10/23/2012
04/10/2013
TYPE
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
O
O
O
O
O
O
O
SECURITY
GENERAL ELECTRIC 5.875% DUE 2/15/12 NON-CALL
GENERAL ELETRIC 5.875% DUE 2/15/12 NON-CALL
GENERAL ELETRIC 5.875% DUE 2/15/12 NON-CALL
PRINCIPAL LIFE INC 4.5% DUE 4/16/12 NON-CALL
GENERAL ELECTRIC 6.00% DUE 6/15/12 NON-CALL
JOHNSON & JOHNSON 5.15% DUE 8/15/12 NON-CALL
GENERAL ELECTRIC 5.250% DUE 10/19/12 NON-CALL
GENERAL ELECTRIC 5.250% DUE 10/19/12 NON-CALL
WELLS FARGO 5.250% DUE 10/23/12 NON-CALL
MET LIFE GLOBAL FUNDING 5.125% DUE 4/10/13 NON-CAL
WELLS FARGO BANK
CORPORATE CASH MANAGEMENT ACCOUNT
UNION TRUST
L A I F WATER DISTRICT
L A I F PUBLIC IMPROVEMENT CORPORATION
L A I F PUBLIC FINANCING CORPORATION
L A I F CITY OF CARLSBAD
I-CALL
DALL
DALL
M.L
CALL
N-CALL
N-CALL
N-CALL
.L
'13NON-CAL
SUB-TOTAL
J
SUB-TOTAL
PAR
VALUE
5,956,000.00
3,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
77,806,000.00
919,408.00
2,203,682.92
-
18,989,000.00
8,349,380.09
13,569,734.13
24,252,503.66
68,283,708.80
INVESTED
AMOUNT
6,187,688.40
3,089,347.40
2,089,414.35
1 ,000,000.00
1 ,033,437.31
1,017,457.28
2,036,663.70
2,065,283.50
1,042,814.41
1 ,003,232.48
78,721,450.70
919,408.00
2,203,682.92
-
18,989,000.00
8,349,380.09
13,569,734.13
24,252,503.66
68,283,708.80
RETURN
RATE
4.970%
5.100%
4.700%
4.500%
5.200%
4.750%
4.830%
4.500%
4.240%
5.050%
4.752%
0.875%
0.875%
1.950%
3.420%
3.420%
3.420%
3.420%
3.304%
INTEREST
1,483,867.09
676,360.93
409,960.65
178,375.00
253,896.02
237,753.83
484,836.30
449,799.83
205,539.76
251,024.46
14,428,341.59
22.04
52.82
-
1 ,803.96
793.19
1,289.12
2,303.99
6,265.12
INVESTMENT
RETURN
7,671,555.49
3,765,708.33
2,499,375.00
1,178,375.00
1,287,333.33
1,255,211.11
2,521,500.00
2,515,083.33
1,248,354.17
1,254,256.94
93,149,792.29
919,430.04
2,203,735.74
-
18,990,803.96
8,350,173.28
13,571,023.25
24,254,807.65
68,289,973.92
TERM
(Days)
1,793
1,588
1,553
1,447
1,750
1,811
1,815
1,792
1,728
1,812
1,349
1
1
1
1
1
1
1
GRAND TOTAL 554,375,708.80 557,517,023.49 4.177% 77,841,038.16 635,815,827.13
°l
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF APRIL 30, 2008
Cash Balance by Fund:
General 61,804,101
Special Revenue 40,257,800
Debt Service 3,350,556
Capital Projects:
General Capital Construction 57,766,707
Traffic Impact Fees 13,001,109
Public Facilities Fees 49,289,657
Park Development 7,501,581
Transnet Taxes 6,391,821
Drainage Fees 9,857,078
Special Districts 87,172,399
Infrastructure Replacement 37,838,229
Other Capital Construction 2,257,432
Total 271,076,013
Enterprise:
Carlsbad Municipal Water District 60,638,861
Sewer Fund 58,742,230
Solid Waste 6,892,270
Storm Water 1,000,072
Golf Course 920,516
Total 128,193,949
Internal Service 31,608,923
Agency Funds 22,867,123
Redevelopment Funds (1) 0
Misc. Special Funds 0
Total General Ledger Balance ** 559,158,464
Reconciling Adjustments (2) (1,710,625)
Total Treasurer's Investment Portfolio at Amortized Cost 557,447,838
(1) Redevelopment Fund Balances are interspersed throughout all funds.
(2) The Reconciling Adjustments consist of differences between the General Ledger which is prepared
on an accrual basis and the Treasurer's report which is prepared on the cash basis. Accrued Interest,
amortized premium or discounts and outstanding checks and deposits in transit are not included in the
Treasurer's summary. Differences between the time journal entries are posted and the time this
report is produced may also be a component of the adjustment.
** Figures based on best estimate at the time report run on 5/07/08
it*
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF APRIL 30, 2008
CORPORATE NOTE AND COMMERCIAL PAPER RATINGS
Corporate Note Investments Meeting the Current Investment Policy:
(Ratings must be AA or better by both Moody's and S&P)
Moodv's
BANK OF AMERICA AAA AA+
BERKSHIRE HATHAWAY AAA AAA
CITIGROUP AA3 AA-
GENERAL ELECTRIC AAA AAA
GOLDMAN SACHS AA3 AA-
JOHNSON & JOHNSON AAA AAA
MET LIFE GLOBAL AA2 AA
NEW YORK LIFE AAA AAA
PRINCIPAL LIFE AA2 AA
TOYOTA AAA AAA
US BANCORP AA2 AA
WAL-MART AA2 AA
WELLS FARGO AA1 AA+
Commercial Paper Investments Meeting the Current Investment Policy:
(Ratings must be A1/P1 or better by both Moody's and S&P)
(Ratings of other debt must be AA or better by Moody's and S&P)
NONE
Investments with Subsequent Changes in Credit Rating *
Latest Carrying Market
Moodv's S&P Maturity Date Purchased Value Value
HOME DEPOT BAA1 BBB+ 03/01/2011 06/12/2006 2,985,207 2,983,740
MERRILL LYNCH A1 A+ 09/10/2009 11/03/2006 4,945,125 4,882,150
* The City's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions
to the policy. All of these investments are paying interest at the required times. The principal of all investments are
considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events
indicate they should be sold.
17
EXHIBIT 10
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF APRIL 30, 2008
WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS
PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER
Investment Cost Percent of Portfolio*
BANK OF AMERICA
BERKSHIRE HATHAWAY
CITIGROUP
GENERAL ELECTRIC CAP
GOLDMAN SACHS
HOME DEPOT
JOHNSON & JOHNSON
MERRILL LYNCH
MET LIFE GLOBAL FUND
NEW YORK LIFE
PRINCIPAL LIFE
TOYOTA
US BANKCORP
WAL-MART
WELLS FARGO
PERCENTAGE WEIGHTINGS BY FEDERAL
1,983,918.00
4,079,130.97
8,961 ,239.70
26,436,746.38
1 ,025,648.53
2,974,590.00
1,017,457.28
4,884,751 .43
1 ,003,232.48
987,620.00
1 ,000,000.00
4,054,280.00
2,952,150.09
13,235,872.90
4,124,812.94
AGENCY ISSUER
0.36%
0.73%
1.61%
4.74%
0.18%
0.53%
0.18%
0.88%
0.18%
0.18%
0.18%
0.73%
0.53%
2.37%
0.74%
Investment Cost Percent of Portfolio**
FAMCA
FHLMC DISCOUNT NOTE
FEDERAL FARM CREDIT BANK
FEDERAL HOME LOAN BANK
FEDERAL HOME LOAN MORTGAGE CORP
FEDERAL NATIONAL MORTGAGE ASSOC
HOUSING URBAN DEVELOPMENT (HUD)
TVA
Total Portfolio
3,679,155.32
3,917,162.78
31,410,818.86
176,720,015.08
116,000,507.88
75,630,026.01
990,198.00
2,130,980.00
0.66%
0.70%
5.63%
31.70%
20.81%
13.57%
0.18%
0.38%
$557,517,023.49
* No more than 5% may be invested with a single corporate issuer.
"There are no percentage limits on federal agency issuers.