HomeMy WebLinkAbout2008-08-12; City Council; 19543; Report on City InvestmentsCITY OF CARLSBAD - AGENDA BILL
AB#
MTG.
DEPT.
19,543 REPORT ON CITY INVESTMENTS
08/12/08 AS OF JUNE 30, 2008
TRS
DEPT. HEAD ^^/
CITYATTY. 'S&
CITYMGR. 4/
"•f^s
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 June 30, 2008 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Par Value
Cost of Investments
Amortized Cost (1 )
Market Value (2)
Current Month
558,610,284
562,862,745
562,393,910
566,115,072
Prior Month
565,741 ,449
569,679,185
569,485,610
573,816,652
(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 6/30/08.
The equity potion of the various funds in the total portfolio is summarized in the graph below.
Fund balances are restricted for various purposes. See Exhibit 7 for a more detailed
breakdown.
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
General Special Revenue
41
Other
Internal Serviice
Agency $25.7
.Capital Projects'A $275
Total Treasurer's Investment Portfolio at Amortized Cost
June 30, 2008 $562.4 million
FOR CITY CLERKS USE ONL Y.
COUNCIL ACTION:APPROVED
DENIED
CONTINUED
WITHDRAWN
AMENDED
n
n
n
n
n
CONTINUED TO DATE SPECIFIC D
CONTINUED TO DATE UNKNOWN D
RETURNED TO STAFF D
OTHER - SEE MINUTES D
C.oiirir"i 1 arrppfar! frig IT'E'POrt
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 nsull@ci.carlsbad.ca.us
PAGE 2 of AB REPORT ON CITY INVESTMENTS AS OF JUNE 30. 2008
Pooled Investment Interest Income
Cash Income Fiscal
Year-to-Date *
Current
Month FYTD
26,036,760
Prior
Month FYTD
24,226,125
Current Month
Income
1,810,635
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
April 2008
May 2008
June 2008
Average Life
(Years)
2.11
2.04
2.05
Average Yield
To Maturity
4.18%
4.09%
4.03%
Modified Duration
1.838
1.848
1 .858
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.
In summary, the City's investments of bond proceeds held separately as of the quarter ended June
2008 is as follows:
Investment Portfolio for Bond Proceeds
Par Value
Cost
Current Quarter
24,859,707
24,859,707
Prior Quarter
38,445,260
38,445,260
All investments of bond proceeds have been made in accordance with the City's Investment Policy
and the trust indenture for each issue. The $13 million decrease is due to the expenditure of
project funds for CFD #3 Improvement Areas #1 and #2. See Exhibit #11 for additional details.
PAGE 3 of AB REPORT ON CITY INVESTMENTS AS OF JUNE 30. 2008
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
EXHIBIT FOR INVESTMENTS OF BOND PROCEEDS HELD SEPARATELY:
11. Detailed Investment Report - Quarterly Report
EXHIBIT FOR SUMMARY OF OUTSTANDING HOUSING LOANS:
12. Detail Of Outstanding Housing Loans - Quarterly Report
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JUNE 30, 2008
BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS
Class
CD
FN
CP
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANK ACCT
AMORTIZED
Current Month
33,000
0
0
0
402,351,943
87,714,683
67,762,380
550
3,867,972
663,382
COST
Prior Month
33,000
3,989,819
0
0
405,246,302
87,742,039
70,601,618
953
1,314,596
557,282
MARKET
Current Month
33,000
0
0
0
405,752,762
88,035,026
67,762,380
550
3,867,972
663,382
VALUE
Prior Month
33,000
3,995,200
0
0
409,272,532
88,041,471
70,601,618
953
1,314,596
557,282
Cash Income
Year to Date
15,733
0
0
0
21,472,148
2,877,908
1 ,600,339
10,329
60,304
0
AVERAGE
Current Month
1.88
0.00
0.00
0.00
4.06
4.76
3.12
1.60
0.87
0.87
YIELD
Prior Month
1.88
4.32
0.00
0.00
4.12
4.76
3.22
1.86
0.88
0.88
TOTALS $562,393,910 $569,485,610 $566,115,072 $573,816,652 $26,036,760 4.03%4.09%
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 JUNE 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
-
0
0
42,831,090
0
67,762,380
550
3,867,972
663,382
$115,158,374 (1)
20.5%
0
0
0
0
44,643,217
0
0
0
0
0
$44,643,217 (1)
7.9%
$159,801,591 (1)
1 TO 5 YEARS
0
0
0
0
315,187,584
87,873,569
0
0
0
0
$403,061,154
71.6%
TOTAL
33,000
0
0
0
402,661,892
87,873,569
67,762,380
550
3,867,972
663,382
$562,862,745
100.0%
% TOTAL
0.0%
0.0%
0.0%
0.0%
71.5%
15.6% (2)
12.0%
0.0%
0.7%
0.1%
100.0%
28.4%
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.
mx
CO
YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1996 - JUNE 2008
EX-LAIF
LAIF
MARKET YIELD CURVE
6/30/06, 6/30/07, 06/30/08
Market Rates
9.9
5 ]
4 C.9
3 c.9
2 C.0
o _
15<1 .9
•1
1
O c
• • •
K ^^^
..--•-•*™ «^
-.-"'*
«A" -*"**"
«#*-.-•'
>•'
.On i i i
3Mth 2Yr 5 Yr 10 Yr
3Mth 2Yr 5 Yr 10 Yr
-•—06/30/2006 4.98 5.15 5.09 5.14
-A- 06/30/2007 4-86 4-84 4-89 4-99
- ^- 06/30/2008 l'13 2'62 3 33 3 97
X^z1—I
DO
Cumulative Cash Income
Cumulative
Millions $
26
24
22
20
18
16
14
12
10
8
6
4
2
2.82
2.6
FY07-08
(July 07 - June 08)Monthly Interest Income
Millions $
3i
2.7
2.4
1.9 1.8
*•-;*!
2.5
1 .8
f
1 .7 1-8
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Interest Income • -* • Budget -n— Actual
8
7
6
5
4
3
- 2
1
0
X
I—I
O3i—i
—I
cn
City of Carlsbad
TRANSACTIONS FOR PERIOD:
06/01/08 TO 06/30/08 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
05/02/2008
05/02/2008
05/02/2008
05/02/2008
05/02/2008
05/02/2008
05/07/2008
05/07/2008
05/07/2008
05/07/2008
05/07/2008
05/07/2008
05/09/2008
04/17/2008
05/12/2008
05/28/2008
05/29/2008
05/29/2008
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
05/05/2008
05/05/2008
05/05/2008
05/05/2008
05/07/2008
05/07/2008
05/08/2008
05/08/2008
05/08/2008
05/08/2008
05/08/2008
05/09/2008
05/12/2008
05/14/2008
05/29/2008
05/30/2008
05/30/2008
05/30/2008
Maturity
Date
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
07/17/2009
05/14/2010
10/22/2010
09/14/2012
09/15/2011
04/10/2013
06/11/2010
09/10/2010
06/10/2011
07/15/2011
05/06/2013
05/09/2013
01/23/2012
05/14/2013
08/29/201 1
04/30/2013
06/15/2012
08/26/201 1
Type
FA
FA
FA
FA
FA
FA
CN
FA
FA
FA
CN
FA
CN
FA
FA
FA
FA
CN
CN
FA
FA
FA
FA
FA
CN
FA
FA
FA
CN
CN
CN
Security
FHLMC
FNMA
FHLB
FHLB
FHLB
FHLB
WELLS FARGO CO
FHLMC
FFCB
FFCB
Met Life Global Fund
FNMA
PRINCIPAL LIFE
FHLB
FHLB
FHLB
FHLB
GENWORTH GLOB
MET LIFE GLOB
FHLB
FHLB
FHLB
FAMCA
FNMA
NEW YORK LIFE
FHLB
FHLB
FHLMC
ALL STATE LIFE
GENERAL ELECTRK
WELLS FARGO
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
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
11/06/2008
N/A
01/23/2009
05/15/2010
05/29/2009
N/A
N/A
N/A
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
3,000,000.00
3,000,000.00
1 ,000,000.00
1,175,000.00
2,000,000.00
2,000,000.00
1 ,000,000.00
2,000,000.00
1 ,000,000.00
2,000,000.00
2,000,000.00
1 ,000,000.00
1 ,000,000.00
2,000,000.00
1 ,000,000.00
2,000,000.00
1 ,000,000.00
1 ,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%
5.375%
7.625%
4.375%
5.000%
5.375%
5.125%
3.000%
3.000%
5.250%
5.500%
4.350%
4.650%
3.520%
4.000%
3.530%
5.375%
6.000%
5.300%
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
3,103,028.04
3,273,695.78
1 ,032,893.26
1,238,814.19
2,016,628.76
2,019,402.04
999,862.00
1 ,994,876.00
1 ,055,434.00
2,116,712.00
2,002,800.00
1 ,006,649.66
1,000,000.00
2,000,000.00
1 ,000,000.00
2,023,559.81
1 ,052,958.51
1,032,919.79
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%
2.45%
2.95%
2.98%
3.64%
5.10%
4.90%
3.01%
3.12%
3.35%
3.55%
4.32%
4.50%
3.52%
4.00%
3.53%
5.10%
4.55%
4.20%
Interest
175,270.00
112,966.11
47,452.22
61 ,680.22
48,000.00
11,000.00
55,816.19
31 ,864.44
108,220.83
59,087.78
251 ,024.46
180,750.00
178,375.00
90,471 .96
189,522.97
74,901.88
192,237.89
344,093.46
485,410.46
62,888.00
145,457.34
106,732.67
233,760.22
431,716.67
225,850.34
130,142.22
320,000.00
114,725.00
504,981 .86
189,541.49
138,741.32
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
3,193,500.00
3,463,218.75
1,107,795.14
1,431,052.08
2,360,722.22
2,504,812.50
1 ,062,750.00
2,140,333.34
1,162,166.67
2,350,472.22
2,434,516.67
1 ,232,500.00
1,130,142.22
2,320,000.00 m
1,114,725.00^
2,528,541.6700
1, 242,500.00 3
1,171,661.11°*
City of Carlsbad
TRANSACTIONS FOR PERIOD:
06/01/08 TO 06/30/08
Trans
Date
JUNE
05/19/2008
05/28/2008
06/02/2008
06/10/2008
06/10/2008
06/10/2008
Investment
Date
06/02/2008
06/10/2008
06/03/2008
06/11/2008
06/23/2008
06/25/2008
Maturity
Date
12/02/2011
06/10/2013
11/13/2012
05/15/2009
06/23/2010
06/25/2010
Type
FA
FA
FA
FA
FA
FA
S<
FHLMC
FHLMC
FNMA
FNMA
FHLMC
FNMA
TOTAL FOURTH QUARTER 2007-2008
MATURITIES
APRIL
MAY
JUNE
04/21/2005
11/04/2004
01/03/2008
11/16/2004
05/19/2005
11/22/2004
12/27/2007
12/03/2007
12/21/2008
06/16/2008
04/21/2008
04/30/2008
05/15/2008
05/16/2008
05/19/2008
05/22/2008
06/23/2008
06/03/2008
06/06/2008
06/16/2008
FA
FA
FA
FA
FA
FA
FN
FA
FA
FA
FNMA
FHLB
FNMA
FNMA
FNMA
FHLMC
FMCDN
FHLB
FNMA
FHLB
TOTAL FOURTH QUARTER 2007-2008
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
FA
FA
FA
FA
FA
FA
FA
FA
FHLB
FHLMC
FHLMC
FHLMC
FHLB
FHLB
FHLMC
FHLMC
4th QUARTER 2007-2008
Security
Call
Date
12/02/2008
06/10/2009
N/A
N/A
09/23/2008
09/25/2008
04/21/2006
01/30/2005
N/A
05/16/2005
05/19/2006
11/22/2005
N/A
N/A
06/06/2007
06/16/2006
04/02/2008
04/07/2008
04/13/2008
04/13/2008
04/15/2008
04/23/2008
04/28/2008
04/28/2008
Par
Value
2,000,000.00
3,000,000.00
1 ,807,000.00
1 ,005,000.00
2,000,000.00
3,000,000.00
60,987,000.00
5,000,000.00
3,000,000.00
2,000,000.00
3,000,000.00
5,000,000.00
3,000,000.00
4,000,000.00
3,000,000.00
3,763,000.00
3,000,000.00
34,763,000.00
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
Coupon
4.000%
4.00%STEP
6.410%
4.250%
3.600%
4.000%
4.000%
3.565%
6.000%
3.700%
4.000%
3.560%
.
4.300%
4.080%
3.700%
3.000%
5.270%
2.500%
2.500%
2.750%
3.500%
3.250%
3.250%
Amount
(Cost)
2,000,000.00
2,998,500.00
1 ,990,388.82
1,018,080.08
1 ,988,000.00
3,000,000.00
62,088,106.03
5,000,000.00
2,999,062.50
2,014,000.00
2,995,312.50
5,000,000.00
2,995,500.00
3,917,162.78
3,000,000.00
3,714,081.00
3,000,000.00
34,635,118.78
3,873,960.00
2,992,699.50
5,000,000.00
2,000,000.00
677,460.00
5,865,937.50
4,997,500.00
5,000,000.00
Return
Rate
4.00%
4.72%
3.90%
2.82%
3.92%
4.00%
3.60%
4.49%
3.58%
4.03%
3.75%
4.46%
3.65%
4.32%
4.30%
5.01%
4.35%
4.25%
5.01%
5.34%
3.56%
3.56%
4.46%
4.18%
4.16%
4.01%
Interest
280,000.00
714,000.00
331 ,405.40
26,547.63
156,000.00
240,000.00
7,050,636.03
675,000.00
374,074.17
30,000.00
393,187.50
668,750.00
382,500.00
82,837.22
64,500.00
272,817.50
393,000.00
3,336,666.39
525,373.33
639,700.50
900,000.00
360,000.00
99,603.19
887,145.83
1 ,052,500.00
1,012,500.00
Investment
Return
2,280,000.00
3,712,500.00
2,321 ,794.22
1,044,627.71
2,144,000.00
3,240,000.00
69,138,742.06
5,675,000.00
3,373,136.67
2,044,000.00
3,388,500.00
5,668,750.00
3,378,000.00
4,000,000.00
3,064,500.00
3,986,898.50
3,393,000.00
37,971,785.17
4,399,333.33
3,632,400.00
5,900,000.00
2,360,000.00
777,063.19
6,753,083.33
6,050,000.00
6,012,500.00
City of Carlsbad
TRANSACTIONS FOR PERIOD:
06/01/08 TO 06/30/08 4th QUARTER 2007-2008
Trans
Date
MAY
04/22/2004
08/02/2007
08/16/2007
JUNE
11/19/2004
06/07/2009
Investment Maturity
Date Date
05/05/2004 05/05/2009
08/03/2007 05/23/2012
08/17/2007 05/29/2012
12/15/2004 12/15/2008
06/30/2006 06/30/2010
Type
FA
FA
FA
Security
FHLMC
FHLMC
FNMA
FA FFCB
FA FHLMC
)08
EQUITY Time Warner Cable
EQUITY Time Warner Cable
EQUITY Time Warner Cable
Class A Common Stock
Call
Date
05/05/2008
05/23/2008
05/29/2008
06/15/2008
06/30/2008
11 shares
1 shares
2 shares
1 4 shares
Par
Value Coupon
5,000,000.00 3.500%
2,000,000.00 5.650%
2,000,000.00 5.470%
3,000,000.00 4.000%
3,000,000.00 5.520%
45,700,000.00
Par Value is
$0.01 per share
$0.01 per share
$0.01 per share
0.14
-
Amount
(Cost)
5,000,000.00
1 ,996,000.00
1,998,000.00
3,000,000.00
3,000,000.00
45,401 ,557.00
Cost
-
Return
Rate
4.26%
5.70%
5.49%
4.00%
5.52%
4.42%
Interest
1 ,075,000.00
547,027.78
525,296.67
480,000.00
662,400.00
8,766,547.30
commission
Investment
Return
6,075,000.00
2,543,027.78
2,523,296.67
3,480,000.00
3,662,400.00
54,168,104.30
Market Value
04/10/2008
290.51
26.41
52.82
(329.73)
(40.01)
-
TOTAL FOURTH QUARTER 2007-2008
STOCKS
FEBRUARY 02/14/2007
JUNE 06/21/2007
FEBRUARY 02/14/2007
APRIL 04/10/2008 SOLD
Fourteen shares of Time Warner Cable (TWO) 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 JUNE 30,2008
INVESTMENT
DATE
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
06/27/2005
03/05/2008
04/02/2004
04/16/2004
04/14/2004
04/07/2008
04/28/2004
05/05/2004
11/08/2007
06/11/2008
02/13/2008
03/14/2007
05/15/2007
07/25/2007
08/09/2007
03/05/2008
04/22/2008
02/13/2008
05/05/2008
07/25/2007
08/09/2007
04/04/2008
01/22/2008
01/04/2008
03/13/2008
1 03/25/2008
05/15/2007
MATURITY
DATE
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
01/26/2009
02/04/2009
03/16/2009
03/16/2009
03/17/2009
04/07/2009
04/28/2009
05/05/2009
05/12/2009
05/15/2009
05/28/2009
06/12/2009
06/12/2009
06/12/2009
06/12/2009
06/12/2009
06/30/2009
07/09/2009
07/17/2009
07/20/2009
07/20/2009
07/23/2009
07/27/2009
07/30/2009
07/30/2009
07/30/2009
08/01/2009
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 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
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
FFC 9.55% DUR 5/12/09 NON-CALL
FNMA 4.25% DUE 5/15/09 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
FHLB 5.375% DUE 7/17/09 NON-CALL
FFCB 5.15% DUE 7/20/09 NON-CALL
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
PAR
VALUE
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
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
2,000,000.00
1,005,000.00
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
3,000,000.00
1,000,000.00
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
INVESTED
AMOUNT
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
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
2,155,378.00
1,018,080.08
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
3,103,028.04
1,001,858.80
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
RETURN
RATE
4.500%
3.284%
4.937%
4.850%
5.125%
5.000%
5.125%
4.927%
3.209%
2.200%
5.120%
5.075%
4.069%
2.287%
3.321%
3.770%
4.200%
2.400%
3.474%
4.262%
4.190%
2.817%
2.530%
4.705%
4.940%
5.050%
4.800%
2.230%
2.646%
2.500%
2.450%
5.050%
4.800%
2.350%
2.981%
3.500%
2.320%
2.400%
4.900%
INTEREST
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
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
133,244.22
26,547.63
33,152.83
212,857.29
514,687.50
190,485.99
177,825.32
116,343.33
31 ,864.44
70,801 .1 1
90,471 .96
100,425.92
187,755.13
61 ,680.22
22,830.28
70,530.37
32,659.31
65,881 .94
107,754.22
INVESTMENT
RETURN
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
3,429,666.67
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
2,288,622.22
1,044,627.71
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
3,193,500.00
1,102,284.72
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
TERM
(Days)
1,096
1,827
602
610
609
511
486
637
260
183
532
571
1,309
336
1,809
1,795
1,798
365
1,826
1,826
551
338
470
821
759
688
673
464
434
512
438
726
711 mX475 3C
552 co|— |
573 -H
504 --J
492
809
INVESTMENT REPORT
AS OF JUNE 30,2008
INVESTMENT
DATE
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
05/05/2008
12/21/2007
02/26/2008
05/08/2008
10/09/2007
06/23/2008
06/25/2008
07/25/2007
~ 03/12/2008
^ 02/20/2008
MATURITY
DATE
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
05/14/2010
05/28/2010
06/11/2010
06/11/2010
06/22/2010
06/23/2010
06/25/2010
07/06/2010
07/26/2010
07/28/2010
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
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
FHLB 7.625% DUE 5/14/10 NON-CALL
FNMA 3.625% DUE 5/28/10 NON-CALL
FHLB 4.25% DUE 6/11/10 NON-CALL
FHLB 3.00% DUE 6/11/10 NON-CALL
FHLB 4.5% DUE 6/22/10 NON-CALL
FHLMC 3.60% DUE 6/23/10 CALL 9/23/08
FNMA 4.0% DUE 6/25/10 CALL 9/25/08
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
PAR
VALUE
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
3,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
3,000,000.00
2,000,000.00
3,000,000.00
1,000,000.00
1,000,000.00
3,000,000.00
INVESTED
AMOUNT
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
3,273,695.78
1 ,996,499.26
1,030,795.00
999,862.00
2,991,510.00
1,988,000.00
3,000,000.00
1,000,640.00
1 ,043,000.00
3,134,430.00
RETURN
RATE
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%
2.950%
3.700%
2.849%
3.005%
4.610%
3.915%
4.000%
5.100%
2.559%
2.786%
INTEREST
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
189,522.97
180,118.80
66,482.78
62,888.00
373,365.00
156,000.00
240,000.00
150,405.14
62,326.67
209,453.33
INVESTMENT
RETURN
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
3,463,218.75
2,176,618.06
1,097,277.78
1,062,750.00
3,364,875.00
2,144,000.00
3,240,000.00
1,151,045.14
1,105,326.67
3,343,883.33
TERM
(Days)
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
739
889
836
764
987
730
730
1,077
866
889
INVESTMENT REPORT
AS OF JUNE 30, 2008
INVESTMENT
DATE
02/13/2008
10/30/2007
02/12/2008
09/18/2007
09/26/2007
05/08/2008
09/26/2007
10/30/2007
04/07/2008
05/05/2008
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
1 1/01/2006
02/20/2008
03/24/2006
04/20/2006
04/28/2006
11/20/2007
01/28/2008
08/31/2007
05/08/2008
03/15/2007
06/30/2006
03/09/2007
08/01/2007
08/31/2007
05/08/2008
03/19/2007
03/05/2008
MATURITY
DATE
07/30/2010
08/10/2010
08/12/2010
08/23/2010
09/10/2010
09/10/2010
09/13/2010
10/01/2010
10/15/2010
10/22/2010
11/04/2010
11/04/2010
11/17/2010
12/10/2010
12/15/2010
01/07/2011
02/09/201 1
02/24/2011
02/24/201 1
02/24/201 1
02/24/201 1
02/24/201 1
02/24/201 1
02/24/201 1
03/11/2011
03/24/201 1
04/06/201 1
04/06/2011
05/20/201 1
05/20/201 1
06/10/2011
06/10/2011
06/15/2011
06/30/201 1
07/14/2011
07/15/2011
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
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
FHLB 3.00% DUE 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
FHLB 4.375% DUE 10/22/10 NON-CALL
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
FHLB 5.25% 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
FAMCA 5.5% 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
2,550,000.00
1,000,000.00
3,000,000.00
3,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
1 ,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
1 ,000,000.00
5,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
629,000.00
2,000,000.00
3,000,000.00
1,000,000.00
INVESTED
AMOUNT
2,688,248.25
1 ,009,328.80
3,000,000.00
3,048,120.00
2,034,188.23
1,994,876.00
2,041 ,700.00
3,010,560.00
1,013,145.00
1 ,032,893.26
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
1 ,055,434.00
5,000,000.00
2,000,000.00
1 ,909,480.00
3,034,380.00
644,775.32
2,116,712.00
3,111,810.00
1 ,000,000.00
RETURN
RATE
2.710%
4.337%
3.190%
4.530%
4.500%
3.115%
4.490%
4.868%
4.443%
2.980%
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%
3.345%
5.030%
5.650%
4.805%
5.175%
4.781%
3.545%
4.800%
3.550%
INTEREST
175,897.58
121,226.76
239,250.00
402,452.92
268,756.21
145,457.34
269,508.33
427,356.67
112,966.11
74,901.88
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
106,732.67
1,068,875.00
565,000.00
406,997.78
618,286.67
118,184.21
233,760.22
648,148.33
122,672.22
INVESTMENT
RETURN
2,864,145.83
1,130,555.56
3,239,250.00
3,450,572.92
2,302,944.44
2,140,333.34
2,31 1 ,208.33
3,437,916.67
1,126,111.11
1,107,795.14
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
1,162,166.67
6,068,875.00
2,565,000.00
2,316,477.78
3,652,666.67
762,959.53
2,350,472.22
3,759,958.33
1,122,672.22
TERM
(Days)
898
1,015
912
1,070
1,080
855
1,083
1,067
921
900
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
1,128
1,553
1,826
1,588
1,444
1,414
1,163
1,610
1,262
INVESTMENT REPORT
AS OF JUNE 30,2008
INVESTMENT
PATE
05/29/2008
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
06/02/2008
05/12/2008
02/13/2008
08/07/2007
03/26/2007
03/26/2007
04/20/2007
08/17/2007
05/21/2007
07/25/2007
07/25/2007
07/25/2007
03/18/2008
08/07/2007
12/10/2007
07/30/2007
09/10/2007
05/05/2008
10/29/2007
10/29/2007
12/10/2007
10/22/2007
12/14/2007
11/28/2007
12/06/2007
06/03/2008
12/14/2007
12/21/2007
12/21/2007
01/23/2008
MATURITY
DATE
08/29/2011
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
12/02/2011
01/23/2012
02/13/2012
03/02/2012
03/26/2012
03/26/2012
03/26/2012
04/03/2012
04/12/2012
05/23/2012
06/08/2012
06/08/2012
06/26/2012
06/29/2012
07/20/2012
07/30/2012
09/10/2012
09/14/2012
10/01/2012
10/15/2012
10/17/2012
10/22/2012
10/22/2012
10/30/2012
10/30/2012
11/13/2012
11/14/2012
12/21/2012
12/21/2012
01/07/2013
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
FHLMC 3.53% DUE 8/29/11 CALL 5/29/09
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
FHLMC 4.0% DUE 12/02/11 CALL 12/02/08
FHLB 3.52% DUE 1/23/12 CALL 1/23/09
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
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
FHLB 5.00% DUE 9/14/12 NON-CALL
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
FNMA 6.41% DUE 11/13/12 NON-CALL
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
PAR
VALUE
1 ,000,000.00
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
2,000,000.00
1 ,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
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
1,175,000.00
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
1 ,807,000.00
2,000,000.00
5,000,000.00
4,000,000.00
2,000,000.00
INVESTED
AMOUNT
1,000,000.00
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
2,000,000.00
1,000,000.00
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
1,005,040.00
1,005,254.43
2,075,680.00
2,005,000.00
1 ,037,000.00
1,770,000.00
1 ,000,000.00
1,238,814.19
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
1,990,388.82
2,006,200.00
5,000,000.00
4,000,000.00
2,056,800.00
RETURN
RATE
3.530%
4.773%
4.730%
4.390%
4.720%
4.900%
4.966%
5.000%
4.033%
4.795%
4.000%
3.521%
3.910%
5.449%
5.000%
5.000%
5.006%
5.261%
5.015%
5.235%
5.255%
5.250%
4.760%
5.564%
4.677%
5.520%
5.200%
3.640%
5.115%
4.892%
4.100%
5.000%
5.152%
4.746%
4.653%
3.890%
4.952%
4.675%
4.675%
4.061%
INTEREST
114,725.00
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
280,000.00
130,142.22
156,300.00
497,215.28
500,000.00
750,000.00
246,979.17
730,375.00
489,057.50
524,632.22
256,692.64
256,478.21
415,625.56
545,625.00
220,300.00
488,520.00
260,000.00
192,237.89
252,635.42
243,661.11
401,970.00
500,000.00
501,671.33
705,333.33
460,000.00
331,405.40
487,925.00
1,168,750.00
935,000.00
409,022.22
INVESTMENT
RETURN
1,114,725.00
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
2,280,000.00
1,130,142.22
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
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
1,431,052.08
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
2,321,794.22
2,494,125.00
6,168,750.00
4,935,000.00
2,465,822.22
TERM
(Days)
1,187
1,649
1,639
1,416
1,665
1,461
1,393
1,461
1,331
1,705
1,278
1,351
1,461
1,669
1,827
1,827
1,802
1,691
1,788
1,764
1,780
1,780
1,561
1,788
1,684
1,827
1,827
1,593
1,799
1,813
1,773
1,827
1,774
1,798
1,790
1,624
1,797
1,827
1,827
1,811
INVESTMENT REPORT
AS OF JUNE 30, 2008
INVESTMENT
DATE
01/14/2008
01/28/2008
02/04/2008
02/20/2008
03/10/2008
03/18/2008
05/08/2008
05/14/2008
06/10/2008
08/24/2005
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
MATURITY
DATE TYPE SECURITY
01/14/2013 FA FHLB 4.25% DUE 01/14/13 CALL 10/14/08
01/28/2013 FA FHLB 4.20% DUE 01/28/13 CALL 01/28/09
01/30/2013 FA FHLB 4.35% DUE 1/30/13 CALL 1/30/09
02/20/2013 FA FHLB 4.00% DUE 2/20/13 CALL 2/20/09
03/08/2013 FA FHLB 3.50% DUE 3/8/13 NON-CALL
03/18/2013 FA FHLMC 4.00% DUE 3/18/13 CALL 9/18/08
05/06/2013 FA FNMA 4.35$% DUE 5/06/13 CALL 11/06/08
05/14/2013 FA FHLB 4.00% DU E 5/14/13 CALL 5/15/10
06/10/2013 FA FHLMC 4.0% DUE 6/10/13 CALL 6/10/09
Poinsettia District Investment
08/11/2008 FA FFCB 4.3% DUE 08/11/08 NON-CALL
03/02/2009 CD WELLS FARGO BANK 9218910637
08/03/2009 CN BANK OF AMERICA 4.625% DUE 8/3/09 NON-CALL
08/10/2009 CN WAL-MART 6.875% DUE 8/10/09 NON-CALL
09/10/2009 CN MERRILL LYNCH 4.125% DUE 9/10/09 NON-CALL
10/27/2009 CN GENERAL ELECTRIC 5.250% DUE 10/27/09 NON-CALL
01/15/2010 CN BERKSHIRHATWY 4.125% DUE 1/15/10 NON-CALL
01/15/2010 CN BERKSHIRHATWY 4.125% DUE 1/15/10 NON-CALL
01/15/2010 CN WELLS FARGO CO 4.2% DUE 1/15/10 NON-CALL
06/15/2010 CN GOLDMAN SACHS 4.50% DUE 6/15/10 NON-CALL
07/01/2010 CN WAL-MART 4.125% DUE 7/01/10 NON-CALL
07/01/2010 CN WAL-MART 4.125% DUE 7/01/10 NON-CALL
07/29/2010 CN US BANCORP 4.50% DUE 7/29/10 NON-CALL
08/09/2010 CN WELLS FARGO 4.625% DUE 08/09/10 NON-CALL
08/15/2010 CN WAL-MART 4.75% DUE 8/15/10 NON-CALL
08/15/2010 CN WAL-MART 4.75% DUE 8/15/10 NON-CALL
08/16/2010 CN NEW YORK LIFE 4.625% DUE 8/16/10 NON-CALL
02/14/2011 CN CITIGROUP 5.125% DUE 2/14/11 NON-CALL
02/14/2011 CN CITIGROUP 5.125% DUE 2/14/11 NON-CALL
02/14/2011 CN CITIGROUP 5.125% DUE 2/14/11 NON-CALL
03/01/2011 CN HOME DEPOT 5.20% DUE 3/1/11 NON-CALL
04/28/2011 CN GENERAL ELECTRIC 5.50% DUE 4/28/11 NON-CALL
PAR
VALUE
3,000,000.00
3,000,000.00
4,000,000.00
4,000,000.00
3,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
SUB-TOTAL 396,492,000.00
2,985,000.00
SUB-TOTAL 2,985,000.00
tments Total 399,477,000.00
33,000.00
SUB-TOTAL 33,000.00
ALL 2,000,000.00
5,000,000.00
LL 5,000,000.00
N-CALL 2,000,000.00
ALL 2,000,000.00
ALL 2,000,000.00
LL 1 ,000,000.00
,LL 1,000,000.00
1,000,000.00
2,000,000.00
3,000,000.00
-L 2,000,000.00
3,000,000.00
2,000,000.00
LL 1,000,000.00
5,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
CALL 3,000,000.00
INVESTED
AMOUNT
3,000,000.00
3,000,000.00
4,040,000.00
4,000,000.00
2,963,940.00
999,000.00
2,002,800.00
2,000,000.00
2,998,500.00
399,671,578.58
2,990,313.30
2,990,313.30
402,661,891.88
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
RETURN
RATE
4.250%
4.200%
4.126%
4.000%
3.765%
4.022%
4.318%
4.000%
4.717%
4.221%
4.235%
0.031%
4.058%
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%
INTEREST
637,500.00
630,000.00
828,066.67
800,000.00
560,476.67
201,000.00
431,716.67
320,000.00
714,000.00
61 ,306,426.37
375,116.66
375,116.66
61,681,543.03
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
INVESTMENT
RETURN
3,637,500.00
3,630,000.00
4,868,066.67
4,800,000.00
3,524,416.67
1,200,000.00
2,434,516.67
2,320,000.00
3,712,500.00
460,978,004.95
3,365,429.96
3,365,429.96
464,343,435
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
TERM
(Days)
1,827
1,827
1,822
1,827
1,824
1,826
1,824
1,826
1,826
1,191
1,083
1,083
2,274
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
INVESTMENT REPORT
AS OF JUNE 30,2008
INVESTMENT
DATE
04/16/2007
05/21/2007
05/30/2008
05/30/2008
05/29/2007
03/20/2007
10/11/2007
11/15/2007
04/30/2008
08/31/2007
05/30/2008
08/31/2007
10/31/2007
11/23/2007
01/30/2008
04/24/2008
05/07/2008
05/30/2008
05/09/2008
MATURITY
DATE
04/28/2011
05/18/2011
08/26/201 1
09/15/2011
11/15/2011
02/15/2012
02/15/2012
02/15/2012
04/16/2012
06/15/2012
06/15/2012
08/15/2012
10/19/2012
10/19/2012
10/23/2012
04/10/2013
. 04/10/2013
04/30/2013
05/09/2013
TYPE
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
O
O
0
O
O
O
O
SECURITY
GENERAL ELECTRIC 5.50% DUE 4/28/11 NON-CALL
TOYOTA 5.450% DUE 5/18/11 NON-CALL
WELLS FARGO CO 5.30% DUE 8/26/11 NON-CALL
GENWORTH GLOBAL 5.375% DUE 9/15/11 NON-CALL
GENERAL ELECTRIC 5.50% DUE 11/15/11 CALL 11/15/08
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
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
MET LIFE GLOBAL FUNDING 5.125% DUE 4/10/13 NON-CAL
ALL STATE LIFE 5.375% DUE 4/30/13 NON-CALL
NEW YORK LIFE 4.650% DUE 5/9/13 NON-CALL
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
•CALL
\LL
N-CALL
111/15/08
J-CALL
CALL
CALL
ALL
•CALL
•CALL
IN-CALL
1N-CALL
IN-CALL
LL
I/13NON-CAL
I/13NON-CAL
_L
L
SUB-TOTAL
r
M
SUB-TOTAL
PAR
VALUE
3,000,000.00
4,000,000.00
1,000,000.00
2,000,000.00
1 ,850,000.00
5,956,000.00
3,000,000.00
2,000,000.00
1 ,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
2,000,000.00
2,000,000.00
1,000,000.00
86,806,000.00
663,382.00
3,867,971 .73
550.00
18,305,000.00
8,349,380.09
18,485,000.00
22,623,000.00
72,294,283.82
INVESTED
AMOUNT
3,048,646.38
4,054,280.00
1,032,919.79
2,016,628.76
1 ,850,000.00
6,187,688.40
3,089,347.40
2,089,414.35
1,000,000.00
1,033,437.31
1,052,958.51
1,017,457.28
2,036,663.70
2,065,283.50
1,042,814.41
1 ,003,232.48
2,019,402.04
2,023,559.81
1,006,649.66
87,873,569.27
663,382.00
3,867,971 .73
550.00
18,305,000.00
8,349,380.09
18,485,000.00
22,623,000.00
72,294,283.82
RETURN
RATE
5.050%
5.070%
4.200%
5.100%
5.500%
4.970%
5.100%
' 4.700%
4.500%
5.200%
4.550%
4.750%
4.830%
4.500%
4.240%
5.050%
4.900%
5.100%
4.500%
4.759%
0.875%
0.875%
1 .600%
3.120%
3.120%
3.120%
3.120%
2.979%
INTEREST
616,853.62
815,903.33
138,741.32
344,093.46
453,918.06
1 ,483,867.09
676,360.93
409,960.65
178,375.00
253,896.02
189,541.49
237,753.83
484,836.30
449,799.83
205,539.76
251,024.46
485,410.46
504,981 .86
225,850.34
16,316,960.52
15.90
92.71
0.02
1 ,586.43
723.61
1,602.03
1,960.66
5,981 .38
INVESTMENT
RETURN
3,665,500.00
4,870,183.33
1,171,661.11
2,360,722.22
2,303,918.06
7,671 ,555.49
3,765,708.33
2,499,375.00
1,178,375.00
1,287,333.33
1 ,242,500.00
1,255,211.11
2,521,500.00
2,515,083.33
1,248,354.17
1 ,254,256.94
2,504,812.50
2,528,541.67
1,232,500.00
104,190,529.79
663,397.90
3,868,064.44
550.02
18,306,586.43
8,350,103.70
18,486,602.03
22,624,960.66
72,300,265.20
TERM
(Days)
1,473
1,458
1,183
1,203
1,631
1,793
1,588
1,553
1,447
1,750
1,477
1,811
1,815
1,792
1,728
1,812
1,799
1,796
1,826
1,380
1
1
1
1
1
1
1
GRAND TOTAL 558,610,283.82 562,862,744.97 4.029% 78,017,566.53 641,338,076.98
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF JUNE 30, 2008
Cash Balance by Fund:
General 69,230,421
Special Revenue 41,430,902
Debt Service 3,616,349
Capital Projects:
General Capital Construction 65,040,188
Traffic Impact Fees 13,353,646
Public Facilities Fees 41,925,910
Park Development 7,345,145
Transnet Taxes 8,026,628
Drainage Fees 9,926,288
Special Districts 88,021,541
Infrastructure Replacement 38,013,910
Other Capital Construction 3,675,081
Total 275,328,338
Enterprise:
Carlsbad Municipal Water District 60,406,567
Sewer Fund 58,863,226
Solid Waste 6,770,765
Storm Water 894,389
Golf Course 754,486
Total 127,689,433
Internal Service 23,731,507
Agency Funds . 25,712,393
Redevelopment Funds (1) 0
Misc. Special Funds 0
Total General Ledger Balance ** 566,739,341
Reconciling Adjustments (2) (4,345,431)
Total Treasurer's Investment Portfolio at Amortized Cost 562,393,910
(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 7/22/08
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JUNE 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 S&P
ALL STATE LIFE AA2 AA
BANK OF AMERICA AAA AA+
BERKSHIRE HATHAWAY AAA AAA
CITIGROUP AA3 AA-
GENERAL ELECTRIC AAA AAA
GENWORTH GLOBAL AA3 AA-
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 2,986,077 2,975,340
MERRILL LYNCH A1 A 09/10/2009 11/03/2006 4,951,858 4,940,300
* 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.
n
EXHIBIT 10
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JUNE 30, 2008
WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS
PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER
Investment Cost Percent of Portfolio*
ALL STATE LIFE
BANK OF AMERICA
BERKSHIRE HATHAWAY
CITIGROUP
GENERAL ELECTRIC CAP
GENWORTH GLOBAL
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
2,023,559.81
1,983,918.00
4,079,130.97
8,961 ,239.70
27,489,704.89
2,016,628.76
1,025,648.53
2,974,590.00
1,017,457.28
4,884,751.43
3,022,634.52
1 ,994,269.66
1,000,000.00
4,054,280.00
2,952,150.09
13,235,872.90
5,157,732.73
AGENCY ISSUER
0.36%
0.35%
0.72%
1 .59%
4.88%
0.36%
0.18%
0.53%
0.18%
0.87%
0.54%
0.35%
0.18%
0.72%
0.52%
2.35%
0.92%
Investment Cost Percent of Portfolio**
FAMCA
FEDERAL FARM CREDIT BANK
FEDERAL HOME LOAN BANK
FEDERAL HOME LOAN MORTGAGE CORP
FEDERAL NATIONAL MORTGAGE ASSOC
HOUSING URBAN DEVELOPMENT (HUD)
TVA
Total Portfolio
5,795,867.32
28,410,818.86
186,418,618.35
110,995,507.88
67,919,901.41
990,198.00
2,130,980.00
1 .03%
5.05%
33.12%
19.72%
12.07%
0.18%
0.38%
$562,862,744.97
* No more than 5% may be invested with a single corporate issuer.
"There are no percentage limits on federal agency issuers.
City of Carlsbad
Bond Proceeds Investment Report
June 30, 2008
Fund Type
Hosp Grove Refunding - 1997
Reserve Account
Investments
Repub Natl Bank Repo Agreement
Assessment District 03-01 (College/Cannon)
Project Fund LAIF
Redemption Fund LAIF
Re-Assessment District 97-01
Imprvmnt Fund - Alga
Reserve Fund
(Alga Road & College Blvd)
AIM STIT Treasury
Trinity Plus Investment Agreement
Stated Int.
Rate
5.67%
3.11%
3.11%
N/A
6.40%
Maturity
Date
08/01/08
N/A
N/A
N/A
09/02/11
Par Value
$ 659,500 $
$ 921 ,646 $
$ 212,918 $
$ 274,365 $
$ 892,500 $
Cost
Fiscal Agent:
659,500
Fiscal Agent:
921,646
212,918
Fiscal Agent:
274,365
892,500
Source
BNY Western Trust
GIG
BNY Western Trust
LAIF
LAIF
US Bank
AIM Instil. Fund Services
JP Morgan/Chase Bank
Assessment District 95-01 (Carlsbad Ranch)
Reserve Fund Repub Natl Bank Repo Agreement (HSBC)
Assessment District 96-01 (Rancho Carrillo)
Reserve Fund Repub Natl Bank Repo Agreement (HSBC)
Assessment District 02-01 (Poinsettia Lane)
Improvement Fund AIM
EFJPA
Reserve Fund AIG Investment Agreement
Communities Facilities District #3 Improvement Area 1
Project Fund AIM STIT Treasury
Reserve Fund BNY Hamilton Money Market
Other BNY Hamilton Money Market
Communities Facilities District #3 Improvement Area 2
Project Fund LAIF
Reserve Fund BNY Hamilton Money Market
Other LAIF/BNY
CPFA Golf Course Bonds
Capitalized Interest Fund
Reserve Fund
Other
BNY Hamilton Money Market
BNY Hamilton Money Market
BNY Hamilton Money Market
Fiscal Agent: BNY Western Trust
5.83% N/A $ 821,445 $ 821,445 HSBC Bank of New York
Fiscal Agent: BNY Western Trust
6.03% 09/02/28 $ 1,292,770 $ 1,292,770 HSBC Bank of New York
Fiscal Agent: BNY Western Trust
BNY Western Trust
GIG
BNY Western Trust
AIM Instil. Fund Services
BNY Western Trusl
BNY Western Trusl
BNY Western Trust
LAIF
BNY Weslern Trusl
LAIF/BNY
BNY Western Trust
BNY Weslern Trust
BNY Western Trust
BNY Weslern Trusl
N/A
5.36%
N/A
2.15%
various
3.11%
2.15%
various
2.13%
2.13%
2.13%
N/A
08/01/14
N/A
09/01/36
N/A
N/A
09/01/38
N/A
N/A
N/A
N/A
$
$
$
$
$
$
$
$
$
$
$
6,073,907
953,706
4,310,552
785,331
24,256
541,280
1 ,076,033
4,658,008
118,883
1,238,345
4,262
24,859,707
$
$
$
$
$
$
$
$
$
$
$
$
6,073,907
Fiscal Agent:
953,706
Fiscal Agent:
4,310,552
785,331
24,256
Fiscal Agent:
541,280
1,076,033
4,658,008
Fiscal Agent:
118,883
1,238,345
4,262
24,859,707
X:Ei—i
oo
H:\Long Term Debt\Quarterly Investment Reports\Qtr Inv Rpt.xls
City of Carlsbad
Summary of Outstanding Housing Loans
As of June 30, 2008
Borrower
Individual homebuyers
Individual homebuyers
Individual homebuyers
Individual homebuyers
Individual homebuyers
Individual homebuyers
Catholic Charities
CB Laurel Tree Apartments
CB Housing Partnership
Pacific Vista Las Flores
Poinsettia Housing Assoc
Bridge Housing Corp
Dove Family Housing
CIC Calavera LP
Individual homebuyers
Individual homebuyers
El Camino Family Housing
Individual homebuyers
Individual homebuyers
Habitat for Humanity
Development
City-wide (CHAP)
Calavera Hills
Cherry Tree Walk
Serrano
Rancho Carlsbad
Solamar
Homeless shelter
Laurel Tree
Rancho Carrillo
Vista Las Flores
Poinsettia Station
Villa Loma
La Costa Paloma
Mariposa Apts
Mulberry at
Bressi Ranch
Village by the Sea
Cassia Heights
Laguna Point
The Bluffs
Roosevelt St.
Condos
Purpose
Sale
Sale
Sale
Sale
Sale
Sale
Shelter
Rentals
Rentals
Rentals
Rentals
Rentals
Rentals
Rentals
Sale
Sale
Rentals
Sale
Sale
Sale
First date
issued
06/28/99
10/15/99
06/28/99
05/25/01
05/20/99
09/26/88
09/19/97
12/24/98
03/05/01
02/27/01
10/21/99
11/04/94
07/15/03
09/15/04
04/29/05
10/28/05
03/07/06
07/06/06
06/14/07
08/30/07
Loans issued by amount due Developer loan Interest
# of City to Loans Issued City loan Developer to City amount due to revenue
loans developers/ by Developer to # of loans repaid to loan repaid (recorded City (not on received
issued homeowners homeowners outstanding City to City asAR) City's books) FY 07/08 Type of Loan
133
5
42
90
22
9
1
2
1
1
1
2
1
1
100
11
1
3
8
1
$1,680,000 $
75,000
453,600
1,350,000
752,533
147,726
200,000
1,134,000
1,157,584
363,948
920,000
2,212,000
2,070,000
1,060,000
1 ,840,000
220,000
1 ,454,276
210,000
200,000
503,932
38 ($1,162,448) $ - $517,551.52 $
150,000 1 (60,000) (120,000) 15,000
452,600 14 (280,792) (283,250) 172,808
4,050,000 34 (825,167) (2,520,000) 489,934
15 (256,410) - 496,123
1 (135,065) - 12,661
1 - - 200,000
2 (352,122) - 781,878
1 - - 1,157,584
1 - - 363,948
1 - - 920,000
2 (1,282,860) - 929,140
1 (452,388) (100,096) 1,517,516
1 - - 1,060,000
19,660,200 100 - - 1,840,000
4,087,200 7 - - 220,000
1 - - 1,454,276
3 - 210,000
8 200,000
1 503,932
Payment deferred 1 5 years. No interest is
517,552 $ - due unless home is sold before 16th year
Payment deferred 30 years. No interest is
30,000 45,000 - due unless home is sold before 31th year
Payment deferred 30 years. No interest is
169,350 342,158 127,550 due unless home is sold before 31th year
Payment deferred 30 years. No interest is
1,530,000 2,019,934 82,697 due unless home is sold before 31th year
496,123 - Principal is due when home is sold
12,661 - Principal is due when home is sold
200,000 - Principal is due when property is sold
Principal and 3% interest each year for 30
781 ,878 - years when surplus cash is available
Principal and 3% interest each year for 55
1,157,584 - years when surplus cash is available
Principal and 3% interest each year for 55
363,948 - years when surplus cash is available
Principal and 3% interest each year for 55
920,000 - years when surplus cash is available
Principal and 3% interest each year for 15
929,140 - years when surplus cash is available
Principal and 3% interest each year for 55
1,517,516 110,628 years when surplus cash is available
Principal and 3% interest each year for 55
years when surplus cash is available
Payment deferred 30 years. No interest is
1 9,660,200 - due unless home is sold before 31 th year
Payment deferred 30 years. No interest is
4,087,200 - due unless home is sold before 31th year
Principal and 3% interest each year for 55
years when surplus cash is available
Payment deferred 45 years. No interest is
due unless home is sold before 46th year
Payment deferred 30 years. No interest is
due unless home is sold before 31th year
Refer to Agenda Bill 18,569; Resolution
2006-131
435 $ 18,004,600 $ 28,400,000 233 $(4,807,252) $(3,023,346) $13,062,352 $ 25,476,750 $9,303,494 $320,875
Multiple CHAP loan payments, one pay-off, and two pre-development loans/re-imbursements to Habat for Humanity regarding the Roosevelt Street condos increased the outstanding loan balance in the Housing Fund by $186,644 during the r\3
fourth quarter of FY2007-08. Also, a $ 171,629 Villa Loma principal payment was received in the Village Low-Mod Fund. The outstanding combined loan receivable balance is now $13,062,352..
fe