HomeMy WebLinkAbout2008-09-09; City Council; 19552; Report On City Investments as of July 31, 2008x«*/
AB#
MTG.
DEPT.
^^ CITY OF CARLSBAD - AGENDA BILL
19,552
09/09/08
TRS
REPORT ON CITY INVESTMENTS
AS OF JULY 31 , 2008
DEPT. HEAD ;
CITY ATTY.
CITY MGR.
,/. // 4
Ww/
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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 July 31, 2008 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Par Value
Cost of Investments
Amortized Cost (1 )
Market Value (2)
Current Month
554,007,732
558,328,026
557,687,310
561,044,118
Prior Month
558,610,284
562,862,745
562,393,910
566,115,072
(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 7/31/08.
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.
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
Special Revenue
45.4
ipital Projects
$ 270.4
General
Other $3 2
Internal Service$23.4
Agency $26.2
Enterprise ^
$126.7
Total Treasurer's Investment Portfolio at Amortized Cost
July 31,2008 $557.7 million
FOR CITY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED D
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WITHDRAWN D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.
Dn
D
D
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 nsull@ci.carlsbad.ca.us
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF JULY 31. 2008
Pooled Investment Interest Income
Cash Income Fiscal
Year-to-Date *
Current
Month FYTD
1,995,192
Prior
Month FYTD
0
Current Month
Income
1,995,192
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
May 2008
June 2008
July 2008
Average Life
(Years)
2.04
2.05
2.04
Average Yield
To Maturity
4.09%
4.03%
4.00%
Modified Duration
1.848
1.858
1.847
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. First 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 JULY 31, 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
398,275,252
90,687,327
65,286,924
-
2,167,683
1,237,125
COST
Prior Month
33,000
0
0
0
402,351,943
87,714,683
67,762,380
550
3,867,972
663,382
MARKET VALUE
Current Month
33,000
0
0
0
401,436,792
90,882,594
65,286,924
0
2,167,683
1,237,125
Prior Month
33,000
0
0
0
405,752,762
88,035,026
67,762,380
550
3,867,972
663,382
Cash Income
Year to Date
52
0
0
0
1,341,721
198,096
453,107
224
1,993
0
AVERAGE YIELD
Current Month Prior Month
1.88
0.00
0.00
0.00
4.06
4.77
2.79
1.91
0.81
0.81
1.88
0.00
0.00
0.00
4.06
4.76
3.12
1.60
0.87
0.87
TOTALS $557,687,310 $562,393,910 $561,044,118 $566,115,072 $1,995,192 4.00%4.03%
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
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CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JULY 31,2008
BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME
CLASS
CD
FN
CP
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANKACCT
TOTALS
% TOTALS
Total within One Year
POLICY: I
WITHIN 6 MONTHS
33,000
-
0
0
37,841,065
0
65,286,924
0
2,167,683
1,237,125
$106,565,797 (1)
19.1%
^1) Not less than $130,125,01
7 MONTHS TO 1 YEAR
0
0
0
0
56,682,841
0
0
0
0
0
$56,682,841 (1)
10.2%
$163,248,638 (1)
29.2%
30 to mature within one year. (2/3rds ol
1 TO 5 YEARS
0
0
0
0
304,205,819
90,873,569
0
0
0
0
$395,079,388
70.8%
f current year operating budget i
TOTAL
33,000
0
0
0
398,729,725
90,873,569
65,286,924
0
2,167,683
1,237,125
$558,328,026
100.0%
of$195,180,000.00)
% TOTAL
0.0%
0.0%
0.0%
0.0%
71.4%
16.3% (2)
11.7%
0.0%
0.4%
0.2%
100.0%
m
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DO
(2) Policy states that not more than 30% of portfolio is to be invested in corporate notes.
YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1996 - JULY 2008
EX-LAIF
LAIF
CO
MARKET YIELD CURVE
6/30/07, 6/30/08, 07/31/08
Market Rates
9.U
5|
4 C _.O
3 C _.0
2 t\ -.0
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3Mth 2Yr 5 Yr 10 Yr
3Mth 2Yr 5 Yr 10 Yr
-•-06/30/2007 4.86 4.84 4.89 4.99
-A- 06/30/2008 173 262 333 397
- ^~ 07/31/2008 X 66 2 51 3 24 3 95
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Cumulative
Millions $
Cumulative Cash Income
FY08-09
(July 07)
Monthly Interest Income
Millions $
^H-
22
20
18
16
14
12
10
8
6
4
2 C
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5
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- 1
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Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Interest Income - -* - Budget -D— Actual
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en
City of Carlsbad
TRANSACTIONS FOR PERIOD:
07/01/08 TO 07/31/08
Trans Investment Maturity
Date Date Date
BUYS
JULY
07/11/2008 07/15/2008 06/08/2012
07/09/2008 07/15/2008 07/15/2010
07/07/2008 07/17/2008 07/15/2012
TOTAL FIRST QUARTER 2008-2009
MATURITIES
JULY
07/07/2005 07/07/2008
07/28/2003 07/28/2008
TOTAL FIRST QUARTER 2008-2009
CALLS and/or SALES
JULY NONE
1ST QUARTER 2008-2009
Type Security
FA
FA
CN
FHLB
FFCB
PROTECTIVE LIFE
Call
Date
N/A
N/A
N/A
Par
Value
3,000,000.00
1 ,000,000.00
3,000,000.00
7,000,000.00
Coupon
4.375%
3.200%
5.050%
Amount
(Cost)
3,050,958.11
1 ,000,000.00
3,000,000.00
7,050,958.11
Return
Rate
3.90%
3.20%
5.05%
4.290%
Interest
460,552.31
64,000.00
605,158.33
1,129,710.64
Investment
Return
3,511,510.42
1 ,064,000.00
3,605,158.33
8,180,668.75
FA
FA
FNMA
FHLB
10/05/2005 5,000,000.00 4% STEP 5,000,000.00 4.50%
07/28/2005 3,000,000.00 2% STEP 2,983,125.00 3.28%
700,000.00 5,700,000.00
496,875.00 3,480,000.00
8,000,000.00 7,983,125.00 4.046% 1,196,875.00 9,180.000.00
TOTAL FIRST QUARTER 2008-2009 #DIV/0!
00
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INVESTMENT REPORT
AS OF JULY 31, 2008
INVESTMENT
DATE
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
1 1/08/2007
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
03/25/2008
.- 05/15/2007
V 11/01/2006
01/22/2008
MATURITY
DATE
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
08/05/2009
08/05/2009
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 4.5% 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
FHLB 5.25% DUE 8/05/09 NON-CALL
FHLB 5.25% DUE 8/5/09 NON-CALL
PAR
VALUE
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
5,000,000.00
2,000,000.00
INVESTED
AMOUNT
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
5,048,115.85
2,070,366.00
RETURN
RATE
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%
4.870%
2.891%
INTEREST
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
70,801.11
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
676,675.82
90,925.67
INVESTMENT
RETURN
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
5,724,791 .67
2,161,291.67
TERM
(Days)
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
475
552
573
504
492
809
1,008
561
m
Xnri — i
03» — I
—1
"-1
INVESTMENT REPORT
AS OF JULY 31,2008
INVESTMENT
DATE
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
07/15/2008
- 03/12/2008
> 02/20/2008
02/13/2008
MATURITY
DATE
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
07/15/2010
07/26/2010
07/28/2010
07/30/2010
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 5.00% 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
FFCB 3.200% DUE 7/15/10 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
PAR
VALUE
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
1,000,000.00
3,000,000.00
2,550,000.00
INVESTED
AMOUNT
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
1,000,000.00
1,043,000.00
3,134,430.00
2,688,248.25
RETURN
RATE
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%
3.200%
2.559%
2.786%
2.710%
INTEREST
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
64,000.00
62,326.67
209,453.33
175,897.58
INVESTMENT
RETURN
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 ,064,000.00
1,105,326.67
3,343,883.33
2,864,145.83
TERM
(Days)
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
730
866
889
898
INVESTMENT REPORT
AS OF JULY 31,2008
INVESTMENT
DATE
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
11/01/2006
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
05/29/2008
MATURITY
DATE
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
02/24/201 1
02/24/2011
02/24/201 1
02/24/201 1
02/24/2011
02/24/201 1
02/24/2011
03/11/2011
03/24/201 1
04/06/201 1
04/06/201 1
05/20/201 1
05/20/201 1
06/10/2011
06/10/2011
06/15/2011
06/30/2011
07/14/2011
07/15/2011
07/15/2011
07/15/2011
08/15/2011
08/19/2011
08/29/201 1
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 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
FHLMC 3.53% DUE 8/29/11 CALL 5/29/09
PAR
VALUE
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
1 ,000,000.00
INVESTED
AMOUNT
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
1,000,000.00
RETURN
RATE
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%
3.530%
INTEREST
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
114,725.00
INVESTMENT
RETURN
1,130,555.56
3,239,250.00
3,450,572.92
2,302,944.44
2,140,333.34
2,311,208.33
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
1,114,725.00
TERM
(Days)
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
1,187
INVESTMENT REPORT
AS OF JULY 31,2008
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
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
07/15/2008
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
5 12/21/2007
01/23/2008
MATURITY
DATE
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
06/08/2012
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
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 4.375% 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
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
3,000,000.00
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
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
3,050,958.11
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
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%
3.900%
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
432,91 1 .1 1
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
460,552.31
415,625.56
545,625.00
220,300.00
488,520.00
260,000.00
192,237.89
252,635.42
243,661 .1 1
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
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
3,511,510.42
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
(Pays)
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
1,424
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 JULY 31,2008
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
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% DUE 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
03/02/2008 03/02/2009 CD WELLS FARGO BANK 9218910637
04/24/2007 08/03/2009 CN BANK OF AMERICA 4.625% DUE 8/3/09 NON-CALL
05/23/2007 08/10/2009 CN WAL-MART 6.875% DUE 8/10/09 NON-CALL
11/03/2006 09/10/2009 CN MERRILL LYNCH 4.125% DUE 9/10/09 NON-CALL
11/01/2007 10/27/2009 CN GENERAL ELECTRIC 5.250% DUE 10/27/09 NON-CALL
01/30/2008 01/15/2010 CN BERKSHIRHATWY 4.125% DUE 1/15/10 NON-CALL
01/31/2008 01/15/2010 CN BERKSHIRHATWY 4.125% DUE 1/15/10 NON-CALL
04/09/2008 01/15/2010 CN WELLS FARGO CO 4.2% DUE 1/15/10 NON-CALL
03/19/2008 06/15/2010 CN GOLDMAN SACHS 4.50% DUE 6/15/10 NON-CALL
11/01/2007 07/01/2010 CN WAL-MART 4.125% DUE 7/01/10 NON-CALL
03/19/2008 07/01/2010 CN WAL-MART 4.125% DUE 7/01/10 NON-CALL
02/03/2006 07/29/2010 CN US BANCORP 4.50% DUE 7/29/10 NON-CALL
01/31/2008 08/09/2010 CN WELLS FARGO 4.625% DUE 08/09/10 NON-CALL
03/16/2007 08/15/2010 CN WAL-MART 4.75% DUE 8/15/10 NON-CALL
10/11/2007 08/15/2010 CN WAL-MART 4.75% DUE 8/15/10 NON-CALL
09/28/2007 08/16/2010 CN NEW YORK LIFE 4.625% DUE 8/16/10 NON-CALL
02/17/2006 02/14/2011 CN CITIGROUP5.125% DUE2/14/11 NON-CALL
03/30/2006 02/14/2011 CN CITIGROUP 5.125% DUE 2/14/11 NON-CALL
06/20/2006 02/14/2011 CN CITIGROUP 5.125% DUE 2/14/11 NON-CALL
04/19/2006 03/01/2011 CN HOME DEPOT 5.20% DUE 3/1/11 NON-CALL
06/12/2006 04/28/2011 CN GENERAL ELECTRIC 5.50% DUE 4/28/11 NON-CALL
SUB-TOTAL
SUB-TOTAL
tments Total
SUB-TOTAL
ALL
LL
IN-CALL
IALL
;ALL
LL
VLL
LL
\LL
•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
392,492,000.00
2,985,000.00
2,985,000.00
395,477,000.00
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
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
395,739,411.69
2,990,313.30
2,990,313.30
398,729,724.99
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%
4.220%
4.235%
0.032%
4.055%
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
60,634,103.68
375,116.66
375,116.66
61,009,220.34
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
456,373,515.37
3,365,429.96
3,365,429.96
459,738,945
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
1,186
1,083
1,083
2,269
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 JULY 31, 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
07/17/2008
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
04/28/201 1
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
07/15/2012
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
CN
O
0
O
O
O
O
0
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
PROTECTIVE LIFE 5.050% DUE 7/15/12 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
L 11/1 5/08
J-CALL
CALL
CALL
ALL
•CALL
•CALL
:ALL
IN-CALL
IN-CALL
(N-CALL
LL
1/13 NON-CAL
I/13NON-CAL
_L
L
SUB-TOTAL
r
\l
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
3,000,000.00
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
89,806,000.00
1,237,125.00
2,167,682.90
'
16,492,137.74
8,411,589.16
15,600,197.31
24,783,000.00
68,691,732.11
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
3,000,000.00
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
90,873,569.27
1,237,125.00
2,167,682.90
-
16,492,137.74
8,411,589.16
15,600,197.31
24,783,000.00
68,691,732.11
RETURN
RATE
5.050%
5.070%
4.200%
5.100%
5.500%
4.970%
5.100%
4.700%
4.500%
5.200%
4.550%
5.050%
4.750%
4.830%
4.500%
4.240%
5.050%
4.900%
5.100%
4.500%
4.769%
0.812%
0.812%
1.910%
2.790%
2.790%
2.790%
2.790%
2.692%
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
605,158.33
237,753.83
484,836.30
449,799.83
205,539.76
251,024.46
485,410.46
504,981.86
225,850.34
16,922,118.85
27.54
48.25
-
1,278.14
651 .90
1 ,209.02
1,920.68
5,135.52
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
3,605,158.33
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
107,795,688.12
1,237,152.54
2,167,731.15
-
16,493,415.88
8,412,241.06
15,601,406.33
24,784,920.68
68,696,867.63
TERM
(Days)
1,473
1,458
1,183
1,203
1,631
1,793
1,588
1,553
1,447
1,750
1,477
1,459
1,811
1,815
1,792
1,728
1,812
1,799
1,796
1,826
1,382
1
1
1
1
1
1
1
GRAND TOTAL 554,007,732.11 558,328,026.37 4.003% 77,949,556.31 636,735,348.16
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF JULY 31, 2008
Cash Balance by Fund:
General 62,372,815
Special Revenue 45,380,523
Debt Service 3,614,445
Capital Projects:
General Capital Construction 66,042,233
Traffic Impact Fees 13,371,231
Public Facilities Fees 41,584,209
Park Development 6,485,145
Transnet Taxes 8,070,689
Drainage Fees 9,182,819
Special Districts 84,120,362
Infrastructure Replacement 37,991,444
Other Capital Construction 3,569,366
Total 270,417,500
Enterprise:
Carlsbad Municipal Water District 59,997,144
Sewer Fund 57,994,916
Solid Waste 6,885,700
Storm Water 1,146,866
Golf Course 680,676
Total 126,705,302
Internal Service 23,394,123
Agency Funds 26,239,533
Redevelopment Funds (1) 0
Misc. Special Funds 0
Total General Ledger Balance ** 558,124,240
Reconciling Adjustments (2) (436,930)
Total Treasurer's Investment Portfolio at Amortized Cost 557,687,310
(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 8/06/08
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JULY 31, 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
PROTECTIVE LIVE AA3 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 2,986,512 2,973,270
MERRILL LYNCH A1 A 09/10/2009 11/03/2006 4,955,225 4,927,300
* 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.
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JULY 31, 2008
WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS
EXHIBIT 10
PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER
Investment Cost Percent of Portfolio*
2,023,559.81ALL 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
PROTECTIVE LIFE
TOYOTA
US BANKCORP
WAL-MART
WELLS FARGO
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
3,000,000.00
4,054,280.00
2,952,150.09
13,235,872.90
5,157,732.73
0.36%
0.36%
0.73%
1.61%
4.92%
0.36%
0.18%
0.53%
0.18%
0.87%
0.54%
0.36%
0.18%
0.54%
0.73%
0.53%
2.37%
0.92%
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
Investment Cost Percent of Portfolio**
FAMCA
FEDERAL FARM CREDIT BANK
FEDERAL HOME LOAN BANK
FEDERAL HOME LOAN MORTGAGE CORI
FEDERAL NATIONAL MORTGAGE ASSOC
HOUSING URBAN DEVELOPMENT (HUD)
TVA
Total Portfolio
5,795,867.32
29,410,818.86
186,486,451.46
110,995,507.88
62,919,901.41
990,198.00
2,130,980.00
1.04%
5.27%
33.40%
19.88%
11.27%
0.18%
0.38%
$558,328,026.37
* No more than 5% may be invested with a single corporate issuer.
"There are no percentage limits on federal agency issuers.