HomeMy WebLinkAbout2009-03-10; City Council; 19735; Report on City investments as of January 31 2009CITY OF CARLSBAD - AGENDA BILL
AB#
MTG.
DEPT.
19,735
03/10/09
TRS
REPORT ON CITY INVESTMENTS
AS OF JANUARY 31 , 2009
DEPT. HEAD^-^^
CITY ATTY. S&&
CITYMGR. lu
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 January 31, 2009 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Par Value
Cost of Investments
Amortized Cost (1)
Market Value (2)
Current Month
553,806,974
559,257,741
557,452,274
564,742,844
Prior Month
539,735,243
544,843,479
543,21 1 ,342
550,687,945
(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 1/31/09.
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.
The $14 million increase between December '08 and January '09 cost of investments is due to
the receipt of $10 million in property taxes along with $3.9 million of vehicle in lieu and $3.3 million
of sales tax in lieu payments during the month.
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WITHDRAWN D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
Connr.il flr.r.ppfprl fhp rpporf.
an
aa
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 nsull@ci.carlsbad.ca.us
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF JANUARY 31. 2009
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
General Special Revenue
$64.5 /n S45.9
Other $.3
Internal Service$24.4Agency
$20.2
Capital Projects
S 275.4
Enterprise
$126.8
Total Treasurer's Investment Portfolio at Amortized Cost
January 31, 2009 $557.5 million
Pooled Investment Interest Income
Cash Income Fiscal
Year-to-Date *
Current
Month FYTD
14,527,138
Prior
Month FYTD
12,308,462
Current Month
Income
2,218,676
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
November 2008
December 2008
January 2009
Average Life
(Years)
1.94
1.84
1.69
Average Yield
To Maturity
4.02%
3.94%
3.76%
Modified Duration
1.774
1.701
1.568
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. Third 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 JANUARY 31, 2009
BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS
AVERAGE YIELD
Class
CD
FN
CP
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANK ACCT
Current Month
33,000
2,939,500
0
2,059,229
361 ,277,222
93,542,389
94,904,070
409
2,127,741
568,714
Prior Month Current Month
33,000
2,931,750
0
2,060,318
374,087,102
93,569,928
68,289,301
-
1,704,561
535,381
33,000
2,987,100
0
2,122,730
369,525,132
92,473,948
94,904,070
409
2,127,741
568,714
Prior Month
33,000
2,984,100
0
2,138,910
382,831,540
92,171,152
68,289,301
0
1,704,561
535,381
Cash Income
Year to Date Current Month Prior Month
369
0
0
0
10,872,097
2,401,831
1,244,307
1,702
6,833
0
1.88
3.11
0.00
2.44
3.99
4.74
2.06
0.15
0.00
0.00
1.88
3.11
0.00
2.44
4.03
4.74
2.55
0.97
0.00
0.00
TOTALS $557,452,274 $543,211,342 $564,742,844 $550,687,945 $14,527,138 3.76%3.94%
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
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JANUARY 31, 2009
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
WITHIN 6 MONTHS
33,000
0
0
0
57,682,841
0
94,904,070
409
2,127,741
568,714
$155,316,775 (1)
27.8%
Year
7 MONTHS TO 1 YEAR
0
2,914,250
0
0
38,191,792
19,183,608
0
0
0
0
$60,289,650 (1)
10.8%
$215,606,425 (1)
1 TO 5 YEARS
0
0
0
2,062,109
266,879,974
74,709,233
0
0
0
0
$343,651,316
61.5%
TOTAL
33,000
2,914,250
0
2,062,109
362,754,607
93,892,841
94,904,070
409
2,127,741
568,714
$559,257,741
100.0%
% TOTAL
0.0%
0.5%
0.0%
0.4%
64.9%
16.8% (2)
17.0%
0.0%
0.4%
0.1%
100.0%
POLICY:
38.6%
(1) Not less than $130,125,000 to mature within one year. (2/3rds of current year operating budget of $195,180,000.00)
(2) Policy states that not more than 30% of portfolio is to be invested in corporate notes.
xn:i—i
CO
6.75
6.50
6.25
6.00
5.75
5.50
5.25
5.00
4.75
4.50
4.25
4.00
3.75
3.50
3.25
3.00
2.75
2.50
2.25
2.00
1.75
1.50
YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1996 - JANUARY 2009
DO
Btt!«fcfcfc&&fcfc&WS^^ ~GO
MARKET YIELD CURVE
6/30/07, 6/30/08, 1/31/09
Market Rates
%l.o
4 c T ~
mD
\
3 C.9
3 ^
2 C.O
15'I mD
1
O c
"0 ^
a , . — • — "*
^ ^ "*^ ^^^^ — ' ^ " ^ **^
^ *^ ^^ ^~-~~~~~^ ~~ ^^^f
_^^***""*^-B^-*i^'"
^--*""*
\ \ \ I
3Mth 2Yr 5Yr 10 Yr
3Mth 2Yr 5 Yr 10 Yr
—06/30/2007 4.86 4.84 4.89 4.99
-*- 06/30/2008 1.73 2.62 3.33 3.97
-^•-01/31/2009 .23 .95 1.88 2.84
Xrei—i
CO
Cumulative
Millions $
Cumulative Cash Income
FY08-09
(January 09)
Monthly Interest Income
Millions $
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
disinterest Income —^--Budget -c^Actual
X
1C
DO
City of Carlsbad
TRANSACTIONS FOR PERIOD:
01/01/09 TO 01/31/09 3rd QUARTER 2008-2009
Trans
Date
BUYS
JANUARY
01/16/2009
01/06/2009
01/22/2009
01/22/2009
01/28/2009
FEBRUARY
01/28/2009
Investment
Date
01/20/2009
01/20/2009
01/23/2009
01/23/2009
01/29/2009
02/12/2009
Maturity
Date
12/13/2013
01/20/2011
08/15/2011
09/09/201 1
08/15/2012
02/12/2014
Type
FA
FA
FA
FA
FA
FA
Security
FHLB
FHLMC
FHLB
FHLB
FHLB
FNMA
Call
Date
N/A
04/20/2009
N/A
N/A
N/A
02/12/2010
TOTAL THIRD QUARTER 2008-2009
Par
Value
2,000,000.00
3,000,000.00
1 ,000,000.00
1 ,000,000.00
2,000,000.00
2,000,000.00
1 1 ,000,000.00
Coupon
3.125%
2.000%
5.750%
5.000%
4.625%
2.0% STEP
Amount
(Cost)
2,047,941 .08
3,000,000.00
1 ,097,950.00
1 ,077,520.00
2,150,960.00
2,000,000.00
11,374,371.08
Return
Rate
2.60%
2.00%
1 .82%
1 .96%
2.39%
3.50%
2.42%
Interest
258,135.31
120,000.00
49,313.89
53,868.89
176,901.11
355,000.00
1,013,219.20
Investment
Return
2,306,076.39
3,120,000.00
1,147,263.89
1,131,388.89
2,327,861.11
2,355,000.00
12,387,590.28
MATURITIES
JANUARY 09/30/2008
06/27/2005
01/13/2009
01/26/2009
FA
FA
FHLB
FNMA
N/A
01/26/2007
TOTAL THIRD QUARTER 2008-2009
2,000,000.00
3,000,000.00
5.000,000.00
3.250%
4.000%
2,000,000.00
2,993,100.00
4,993,100.00
3.25%
4.07%
3.74%
18,597.22
436,566.67
455,163.89
2,018,597.22
3,429,666.67
5,448,263.89
CALLS and / or SALES
JANUARY
09/30/2008
09/17/2008
01/02/2008
02/12/2008
05/09/2008
03/04/2008
01/16/2008
02/01/2008
FEBRUARY
01/30/2008
10/02/2008
10/06/2008
01/07/2008
02/13/2008
05/12/2008
03/05/2008
01/28/2008
02/04/2008
02/04/2008
10/02/2009
01/06/2010
01/07/2011
02/13/2012
01/23/2012
08/19/2011
01/28/2013
01/30/2013
02/04/2010
FA
FA
FA
FA
FA
FA
FA
FA
FA
FHLB
FHLB
FHLB
FFCB
FHLB
FHLB
FHLB
FHLB
FHLB
01/02/2009
01/06/2009
01/07/2009
01/16/2009
01/23/2009
01/26/2009
01/28/2009
01/30/2009
02/04/2009
TOTAL THIRD QUARTER 2008-2009
2,000,000.00
2,000,000.00
3,000,000.00
1 ,000,000.00
1 ,000,000.00
1 ,000,000.00
3,000,000.00
4,000,000.00
1 ,000,000.00
18,000,000.00
3.625%
3.000%
4.125%
3.875%
3.520%
3.550%
4.200%
4.350%
3.200%
2,000,000.00
2,000,000.00
3,000,000.00
998,700.00
1 ,000,000.00
1 ,000,000.00
3,000,000.00
4,040,000.00
1 ,000,000.00
18,038,700.00
4.66%
3.00%
4.13%
3.91%
3.52%
3.55%
4.20%
4.13%
3.20%
3.94%
93,125.00
75,000.00
371,250.00
156,300.00
130,142.22
122,672.22
630,000.00
828,066.67
64,000.00
2,470,556.11
2,093,125.00
2,075,000.00
3,371,250.00
1,155,000.00
1,130,142.22
1,122,672.22
3,630,000.00
4,868,066.67
m
1 ,064,000.00 ><
1— H
20,509,256.11 ±j
00
INVESTMENT REPORT
AS OF JANUARY 31, 2009
INVESTMENT
DATE
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
10/27/2008
01/04/2008
03/13/2008
03/25/2008
05/15/2007
11/01/2006
01/22/2008
08/17/2007
03/14/2007
01/22/2008
02/01/2008
11/13/2007
03/19/2007
03/05/2008
01/22/2008
03/06/2008
\ 01/28/2008
J 01/31/2008
MATURITY
DATE
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
07/27/2009
07/30/2009
07/30/2009
07/30/2009
08/01/2009
08/05/2009
08/05/2009
08/17/2009
09/11/2009
09/11/2009
09/11/2009
09/30/2009
10/02/2009
10/23/2009
10/28/2009
11/06/2009
11/13/2009
11/13/2009
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 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
FHLB 3.10% DUE 7/27/09 NON-CALL
FHLMC 4.375% DUE 7/30/09 NON-CALL
FHLMC 4.375% DUE 7/30/09 NON-CALL
FHLMC 4.375% DUE 7/30/09 NON-CALL
HUD 4.430% DUE 8/1/09 NON-CALL
FHLB 5.25% DUE 8/05/09 NON-CALL
FHLB 5.25% DUE 8/5/09 NON-CALL
FFCB 5.00% DUE 8/17/09 NON-CALL
FHLB 4.378% DUE 9/11/09 NON-CALL
FHLB 4.375% DUE 9/11/09 NON-CALL
FHLB 5.25% DUE 9/11/09 NON-CALL
FHLMC 3.5$ DUE 9/30/09 NON-CALL
FHLB 5.0% DUE 10/2/09 NON-CALL
FFCB 5.00% DUE 10/23/09 NON-CALL
FNMA 4.0% DUE 10/28/09 NON-CALL
FFCB 4.350% DUE 11/06/09 NON-CALL
FFCB 4.125% DUE 11/13/09 NON-CALL
FHLB 4.25% DUE 11/13/09 NON-CALL
PAR
VALUE
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 ,000,000.00
1 ,270,000.00
1 ,000,000.00
2,000,000.00
1 ,000,000.00
5,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
3,000,000.00
1 ,000,000.00
1 ,000,000.00
3,000,000.00
2,000,000.00
500,000.00
1 ,000,000.00
2,000,000.00
1 ,000,000.00
INVESTED
AMOUNT
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
1,000,000.00
1 ,286,826.23
1 ,027,740.00
2,052,000.00
990,198.00
5,048,115.85
2,070,366.00
3,000,000.00
1,984,643.55
3,070,602.00
1,041,519.37
990,283.25
3,014,820.00
2,090,620.00
508,645.00
1 ,031 ,080.00
2,049,060.00
1 ,024,930.00
RETURN
RATE
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%
3.100%
3.500%
2.320%
2.400%
4.900%
4.870%
2.891%
5.000%
4.705%
2.890%
2.600%
4.040%
4.790%
2.160%
2.986%
2.434%
2.711%
2.805%
INTEREST
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
23,250.00
70,530.37
32,659.31
65,881 .94
107,754.22
676,675.82
90,925.67
300,000.00
233,377.28
144,137.58
43,073.96
75,536.19
365,596.67
72,713.33
26,688.33
41,420.00
98,752.50
50,861 .67
INVESTMENT
RETURN
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
1,023,250.00
1 ,357,356.60
1 ,060,399.31
2,117,881.94
1 ,097,952.22
5,724,791 .67
2,161,291.67
3,300,000.00
2,218,020.83
3,214,739.58
1 ,084,593.33
1,065,819.44
3,380,416.67
2,163,333.33
535,333.33
1 ,072,500.00
2,147,812.50
1,075,791.67
TERM
(Days)
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
273
573
504
492
809
1,008
561
731
912
598
588
687 £
928 ;Ei
597 2
645 —•
610 "^
655
652
INVESTMENT REPORT
AS OF JANUARY 31, 2009
INVESTMENT
DATE
01/22/2008
01/22/2008
01/22/2008
02/01/2008
02/04/2008
01/28/2008
01/31/2008
09/29/2008
01/28/2008
09/17/2008
02/04/2008
02/13/2008
04/02/2008
10/30/2008
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
08/05/2008
10/09/2007
07/25/2007
07/15/2008
03/12/2008
02/20/2008
02/13/2008
10/30/2007
02/12/2008
09/18/2007
09/26/2007
05/08/2008
12/05/2008
09/26/2007
05/05/2008
11/20/2008
12/09/2008
' 12/23/2008
MATURITY
DATE
11/16/2009
11/18/2009
12/11/2009
01/29/2010
02/04/2010
02/12/2010
02/12/2010
02/12/2010
03/08/2010
03/10/2010
03/12/2010
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
06/16/2010
06/22/2010
07/06/2010
07/15/2010
07/26/2010
07/28/2010
07/30/2010
08/10/2010
08/12/2010
08/23/2010
09/10/2010
09/10/2010
09/10/2010
09/13/2010
10/22/2010
11/19/2010
12/09/2010
12/30/2010
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
FA
SECURITY
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 3.20% 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
FHLMC 3.125% DUE 2/12/10 NON- CALL
FNMA 4.40% DUE 03/08/10 NON-CALL
FHLMC 3.00% DUE 3/10/10 CALL 12/10/08
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
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
FHLMC 3.50% DUE 6/16/10 NON-CALL
FHLB 4.5% DUE 6/22/10 NON-CALL
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
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
FHLB 3.375% DUE 9/10/10 NON-CALL
FFCB 5.25% DUE 9/13/10 NON-CALL
FHLB 4.375% DUE 10/22/10 NON-CALL
FFCB 2.875% DUE 11/19/10 CALL 5/19/09
FNMA 3.00% DUE 12/9/10 CALL 3/9/09
FHLB 1.70% DUE 12/30/10 CALL 12/30/09
PAR
VALUE
2,000,000.00
2,080,000.00
3,000,000.00
3,000,000.00
1 ,000,000.00
1 ,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
1 ,000,000.00
3,000,000.00
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
3,000,000.00
1 ,000,000.00
1 ,000,000.00
1 ,000,000.00
3,000,000.00
2,550,000.00
1 ,000,000.00
3,000,000.00
3,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
1 ,000,000.00
2,000,000.00
1 ,000,000.00
1 ,000,000.00
INVESTED
AMOUNT
2,038,020.00
2,124,168.80
3,114,720.00
3,000,000.00
1 ,000,000.00
1 ,020,550.00
2,177,668.00
2,997,750.00
2,064,240.00
2,000,000.00
1 ,989,880.00
1 ,994,095.84
1 ,006,020.00
2,978,060.95
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
3,010,680.00
2,991,510.00
1 ,000,640.00
1 ,000,000.00
1 ,043,000.00
3,134,430.00
2,688,248.25
1,009,328.80
3,000,000.00
3,048,120.00
2,034,188.23
1 ,994,876.00
2,032,660.00
2,041 ,700.00
1,032,893.26
2,000,000.00
1 ,000,000.00
1,000,000.00
RETURN
RATE
2.916%
2.918%
2.900%
3.250%
3.200%
2.830%
2.841%
3.180%
2.821%
3.000%
2.622%
2.520%
2.430%
3.300%
2.776%
2.850%
3.013%
5.135%
2.790%
2.950%
3.700%
2.849%
3.005%
3.300%
4.610%
5.100%
3.200%
2.559%
2.786%
2.710%
4.337%
3.190%
4.530%
4.500%
3.115%
2.420%
4.490%
2.980%
2.875%
3.000%
1 .700%
INTEREST
107,313.33
112,177.87
168,196.67
194,458.33
64,000.00
58,456.94
122,248.67
130,635.42
121,537.78
88,833.33
110,133.89
104,730.55
47,452.22
134,689.05
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
185,028.33
373,365.00
150,405.14
64,000.00
62,326.67
209,453.33
175,897.58
121,226.76
239,250.00
402,452.92
268,756.21
145,457.34
86,402.50
269,508.33
74,901.88
114,840.28
60,000.00
34,000.00
INVESTMENT
RETURN
2,145,333.33
2,236,346.67
3,282,916.67
3,194,458.33
1,064,000.00
1,079,006.94
2,299,916.67
3,128,385.42
2,185,777.78
2,088,833.33
2,100,013.89
2,098,826.39
1,053,472.22
3,112,750.00
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
3,195,708.33
3,364,875.00
1,151,045.14
1 ,064,000.00
1,105,326.67
3,343,883.33
2,864,145.83
1,130,555.56
3,239,250.00
3,450,572.92
2,302,944.44
2,140,333.34
2,119,062.50
2,311,208.33
1,107,795.14
2,114,840.28
1 ,060,000.00
1 ,034,000.00
TERM
(Days)
664
666
689
728
731
746
743
501
770
539
767
758
709
498
715
821
730
1,013
749
739
889
836
764
680
987
1,077
730
866
889
898
1,015
912
1,070
1,080
855
644
1,083
900
729
730
737
INVESTMENT REPORT
AS OF JANUARY 31, 2009
ESTMENT
DATE
12/05/2008
01/20/2009
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
08/06/2008
08/31/2007
05/08/2008
09/17/2008
03/15/2007
06/30/2006
08/07/2008
03/09/2007
08/01/2007
08/31/2007
05/08/2008
03/19/2007
01/23/2009
08/26/2008
12/03/2008
05/29/2008
03/05/2007
03/15/2007
01/23/2009
10/30/2007
03/15/2007
10/05/2007
10/19/2007
03/05/2008
03/19/2007
MATURITY
DATE
12/16/2010
01/20/2011
02/09/2011
02/24/2011
02/24/2011
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
04/06/201 1
05/20/201 1
05/20/201 1
06/02/201 1
06/10/2011
06/10/2011
06/10/2011
06/15/2011
06/30/201 1
07/07/201 1
07/14/2011
07/15/2011
07/15/2011
07/15/2011
08/15/2011
08/15/2011
08/26/201 1
08/26/201 1
08/29/201 1
09/09/201 1
09/09/201 1
09/09/201 1
09/15/2011
10/05/2011
10/05/2011
10/19/2011
10/27/2011
11/18/2011
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
FA
SECURITY
FHLMC 4.50% DUE 12/16/10
FHLMC 2.0% DUE 1/20/11 CALL 4/20/09
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
FHLMC 3.125% DUE 6/2/11 CALL 12/02/08
FHLB 5.275% DUE 6/10/11 NON-CALL
FHLB 5.25% 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 4.00% DUE 07/07/11 CALL 07/07/09
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 5.75% DUE 8/15/11 NON-CALL
FNMA 4.0% DUE 8/26/11 CALL 8/26/09
FHLMC 3.50% DUE 8/26/11 CALL 2/26/09
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
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 5.00% 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
PAR
VALUE
3,000,000.00
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
3,000,000.00
1 ,000,000.00
1 ,000,000.00
2,000,000.00
5,000,000.00
2,000,000.00
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
525,000.00
1 ,000,000.00
2,000,000.00
3,000,000.00
1 ,000,000.00
3,000,000.00
3,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
3,000,000.00
INVESTED
AMOUNT
3,119,880.00
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
2,989,500.00
1 ,020,930.00
1 ,055,434.00
2,132,207.14
5,000,000.00
2,000,000.00
1 ,996,500.00
1 ,909,480.00
3,034,380.00
644,775.32
2,116,712.00
3,111,810.00
1 ,097,950.00
999,500.00
525,000.00
1,000,000.00
2,018,200.00
3,032,352.00
1 ,077,520.00
3,117,300.00
3,018,777.00
2,000,000.00
3,000,000.00
2,085,000.00
3,009,690.00
RETURN
RATE
2.470%
2.000%
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%
4.223%
4.761%
3.345%
2.720%
5.030%
5.650%
4.063%
4.805%
5.175%
4.781%
3.545%
4.800%
1.818%
4.018%
3.500%
3.530%
4.773%
4.730%
1 .958%
4.390%
4.720%
4.900%
5.000%
4.033%
4.795%
INTEREST
154,245.00
120,000.00
1 ,250,000.00
854,900.00
781,187.50
1 ,31 1 ,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
359,458.33
181,976.25
106,732.67
154,501.19
1 ,068,875.00
565,000.00
236,833.33
406,997.78
618,286.67
118,184.21
233,760.22
648,148.33
49,313.89
120,500.00
50,173.96
114,725.00
432,911.11
640,148.00
53,868.89
522,075.00
647,473.00
392,000.00
600,000.00
301,311.11
672,403.75
INVESTMENT
RETURN
3,274,125.00
3,120,000.00
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
3,348,958.33
1 ,202,906.25
1,162,166.67
2,286,708.33
6,068,875.00
2,565,000.00
2,233,333.33
2,316,477.78
3,652,666.67
762,959.53
2,350,472.22
3,759,958.33
1,147,263.89
1,120,000.00
575,173.96
1,114,725.00
2,451,111.11
3,672,500.00
1,131,388.89
3,639,375.00
3,666,250.00
2,392,000.00
3,600,000.00
2,386,311.11
3,682,093.75
TERM
(Days)
741
730
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
1,030
1,379
1,128
996
1,553
1,826
1,064
1,588
1,444
1,414
1,163
1,610
934
1,095
996
1,187
1,649
1,639
959
1,416
1,665
1,461
1,461
1,331
1,705
INVESTMENT REPORT
AS OF JANUARY 31, 2009
INVESTMENT
DATE
06/02/2008
03/26/2007
03/26/2007
04/20/2007
08/17/2007
05/21/2007
07/25/2007
11/19/2008
07/25/2007
07/25/2007
07/15/2008
03/18/2008
12/10/2007
08/05/2008
07/30/2007
08/13/2008
01/29/2009
11/12/2008
09/10/2007
05/05/2008
08/22/2008
10/29/2007
12/10/2007
10/22/2007
11/28/2007
12/06/2007
06/03/2008
12/21/2007
12/21/2007
01/23/2008
01/14/2008
02/20/2008
03/10/2008
03/18/2008
05/14/2008
06/10/2008
11/10/2008
12/03/2008
08/27/2008
_ 12/17/2008
N 11/12/2008
MATURITY
DATE
12/02/2011
03/26/2012
03/26/2012
03/26/2012
04/03/2012
04/12/2012
05/23/2012
06/04/2012
06/08/2012
06/08/2012
06/08/2012
06/26/2012
07/20/2012
07/23/2012
07/30/2012
08/13/2012
08/15/2012
09/06/2013
09/10/2012
09/14/2012
09/14/2012
10/15/2012
10/17/2012
10/22/2012
10/30/2012
10/30/2012
11/13/2012
12/21/2012
12/21/2012
01/07/2013
01/14/2013
02/20/2013
03/08/2013
03/18/2013
05/14/2013
06/10/2013
06/14/2013
07/08/2013
07/17/2013
09/13/2013
09/18/2013
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
FA
SECURITY
FHLMC 4.0% DUE 12/02/11 CALL 12/02/08
FHLMC 5.0% DUE 3/26/12 CALL 3/26/10
FHLMC 5.0% DUE 3/26/12 CALL 3/26/10
FHLMC 5.0% DUE 3/26/12 CALL 3/26/10
FHLMC 5.25% DUE 4/3/12 CALL
FFCB 4.875% DUE 4/12/12 NON-CALL
TVA 6.790% DUE 5/23/12 NON-CALL
FHLMC 5.4% DUE 6/4/12 CALL 6/4/09
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
FHLB 5.58% DUE 7/20/12 CALL 7/20/10
FFCB 3.950% DUE 7/23/12 NON-CALL
FHLB 5.52% DUE 7/30/12 CALL 7/30/10
FHLB 4.35% DUE 8/13/12 CALL 8/13/10
FHLB 4.625% DUE 8/15/12 NON-CALL
FHLB 4.0% DUE 9/6/13 NON-CALL
FNMA 5.20% DUE 9/10/12 CALL 9/13/09
FHLB 5.00% DUE 9/14/12 NON-CALL
FHLB 4.5% DUE 9/14/12 NON-CALL
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
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
FHLMC 4.375% DUE 12/21/12 CALL 12/21/09
FHLMC 4.375% DUE 12/21/12 CALL 12/21/09
FHLB 4.7% DUE 1/7/13 CALL 1/7/10
FHLB 4.25% DUE 01/14/13 CALL 10/14/08
FHLB 4.00% DUE 2/20/13 CALL 2/20/09
FHLB 3.50% DUE 3/8/13 NON-CALL
FHLMC 4.00% DUE 3/18/13 CALL 9/18/08
FHLB 4.00% DUE 5/14/13 CALL 5/15/10
FHLMC 4.0% DUE 6/10/13 CALL 6/10/09
FHLB 5.375% DUE 6/14/13 NON-CALL
FFCB 4.625% DUE 7/8/13 CALL 7/8/10
FNMA 4.375% DUE 7/17/13 NON-CALL
FHLB 4.375% DUE 9/13/13 NON-CALL
FNMA 4.05% DUE 9/18/13 CALL 9/18/09
PAR
VALUE
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
1 ,000,000.00
3,000,000.00
2,000,000.00
1 ,000,000.00
2,000,000.00
1 ,770,000.00
2,000,000.00
2,000,000.00
1,000,000.00
1 ,000,000.00
1,175,000.00
1 ,000,000.00
1 ,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
1 ,807,000.00
5,000,000.00
4,000,000.00
2,000,000.00
3,000,000.00
4,000,000.00
3,000,000.00
1 ,000,000.00
2,000,000.00
3,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
INVESTED
AMOUNT
2,000,000.00
2,000,000.00
3,000,000.00
999,687.50
2,998,500.00
1 ,987,880.00
2,130,980.00
1,016,580.00
1 ,005,040.00
1 ,005,254.43
3,050,958.11
2,075,680.00
1 ,037,000.00
2,002,900.00
1,770,000.00
1 ,999,500.00
2,150,960.00
1,007,890.00
1 ,000,000.00
1,238,814.19
1 ,022,730.00
1 ,006,875.00
2,034,780.00
2,000,000.00
3,033,000.00
2,030,000.00
1 ,990,388.82
5,000,000.00
4,000,000.00
2,056,800.00
3,000,000.00
4,000,000.00
2,963,940.00
999,000.00
2,000,000.00
2,998,500.00
1,065,788.37
2,053,420.00
2,035,600.00
2,154,940.00
1 ,987,600.00
RETURN
RATE
4.000%
5.000%
5.000%
5.006%
5.261%
5.015%
5.235%
4.884%
5.255%
5.250%
3.900%
4.760%
4.677%
3.910%
5.520%
4.357%
2.391 %
3.818%
5.200%
3.640%
3.889%
4.892%
4.100%
5.000%
4.746%
4.653%
3.890%
4.675%
4.675%
4.061%
4.250%
4.000%
3.765%
4.022%
4.000%
4.717%
3.800%
3.983%
3.970%
2.625%
4.192%
INTEREST
280,000.00
500,000.00
750,000.00
246,979.17
730,375.00
489,057.50
524,632.22
174,670.00
256,692.64
256,478.21
460,552.31
415,625.56
220,300.00
310,466.67
488,520.00
348,500.00
176,901.11
184,776.67
260,000.00
192,237.89
160,020.00
243,661.11
401 ,970.00
500,000.00
705,333.33
460,000.00
331 ,405.40
1,168,750.00
935,000.00
409,022.22
637,500.00
800,000.00
560,476.67
201,000.00
320,000.00
714,000.00
181,163.02
371 ,823.06
392,177.78
259,712.78
405,250.00
INVESTMENT
RETURN
2,280,000.00
2,500,000.00
3,750,000.00
1 ,246,666.67
3,728,875.00
2,476,937.50
2,655,612.22
1,191,250.00
1 ,261 ,732.64
1 ,261 ,732.64
3,511,510.42
2,491 ,305.56
1 ,257,300.00
2,313,366.67
2,258,520.00
2,348,000.00
2,327,861.11
1,192,666.67
1 ,260,000.00
1 ,431 ,052.08
1,182,750.00
1,250,536.11
2,436,750.00
2,500,000.00
3,738,333.33
2,490,000.00
2,321,794.22
6,168,750.00
4,935,000.00
2,465,822.22
3,637,500.00
4,800,000.00
3,524,416.67
1 ,200,000.00
2,320,000.00
3,712,500.00
1 ,246,951 .39
2,425,243.06
2,427,777.78
2,414,652.78
2,392,850.00
TERM
(Days)
1,278
1,827
1,827
1,802
1,691
1,788
1,764
1,293
1,780
1,780
1,424
1,561
1,684
1,448
1,827
1,461
1,294
1,759
1,827
1,593
1,484
1,813
1,773
1,827
1,798
1,790
1,624
1,827
1,827
1,811
1,827
1,827
1,824
1,826
1,826
1,826
1,677
1,678
1,785
1,731
1,771
INVESTMENT REPORT
AS OF JANUARY 31, 2009
INVESTMENT
DATE
11/19/2008
11/26/2008
01/20/2009
10/23/2008
11/10/2008
11/12/2008
03/02/2008
04/24/2007
05/23/2007
11/03/2006
11/01/2007
01/30/2008
01/31/2008
04/09/2008
12/15/2008
03/19/2008
11/01/2007
03/19/2008
02/03/2006
01/31/2008
03/16/2007
10/11/2007
09/28/2007
02/17/2006
03/30/2006
06/20/2006
04/19/2006
06/12/2006
04/16/2007
i 05/21/2007
MATURITY
DATE
09/25/2013
11/26/2013
12/13/2013
10/01/2009
08/31/2013
09/30/2013
03/02/2009
08/03/2009
08/10/2009
09/10/2009
10/27/2009
01/15/2010
01/15/2010
01/15/2010
05/18/2010
06/15/2010
07/01/2010
07/01/2010
07/29/2010
08/09/2010
08/15/2010
08/15/2010
08/16/2010
02/14/2011
02/14/2011
02/14/2011
03/01/2011
04/28/201 1
04/28/201 1
05/18/2011
TYPE
FA
FA
FA
FN
TR
TR
CD
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
SECURITY
FHLMC 50.5% DUE 9/25/13 CALL 9/25/09
FHLB3.5% DUE 11/25/1 3 CALL 11/26/10
FHLB 3.125% DUE 12/13/13 NON-CALL
SUB-TOTAL
FHLBN 0% DUE 10/01/09 NON-CALL
SUB-TOTAL
Federal Investments Total
US TREASURY
US TREASURY
SUB-TOTAL
WELLS FARGO BANK 9218910637
SUB-TOTAL
BANK OF AMERICA 4.625% DUE 8/3/09 NON-CALL
WAL-MART 6.875% DUE 8/10/09 NON-CALL
MERRILL LYNCH 4.125% DUE 9/10/09 NON-CALL
GENERAL ELECTRIC 5.250% DUE 10/27/09 NON-CA1
BERKSHIRHATWY 4.125% DUE 1/15/10 NON-CALL
BERKSHIRHATWY 4.125% DUE 1/15/10 NON-CALL
WELLS FARGO CO 4.2% DUE 1/15/10 NON-CALL
TOYOTA 3.834% DUE 5/18/10 NON-CALL
GOLDMAN SACHS 4.50% DUE 6/15/10 NON-CALL
WAL-MART 4.125% DUE 7/01/10 NON-CALL
WAL-MART 4. 125% DUE 7/01/10 NON-CALL
US BANCORP 4.50% DUE 7/29/10 NON-CALL
WELLS FARGO 4.625% DUE 08/09/10 NON-CALL
WAL-MART 4.75% DUE 8/15/10 NON-CALL
WAL-MART 4.75% DUE 8/15/10 NON-CALL
NEW YORK LIFE 4.625% DUE 8/16/10 NON-CALL
CITIGROUP 5.125% DUE 2/14/11 NON-CALL
CITIGROUP 5.125% DUE 2/14/1 1 NON-CALL
CITIGROUP 5.125% DUE 2/14/11 NON-CALL
HOME DEPOT 5.20% DUE 3/1/1 1 NON-CALL
GENERAL ELECTRIC 5.50% DUE 4/28/1 1 NON-CALL
GENERAL ELECTRIC 5.50% DUE 4/28/11 NON-CALL
TOYOTA 5.450% DUE 5/18/1 1 NON-CALL
PAR
VALUE
1 ,000,000.00
2,000,000.00
2,000,000.00
358,367,000.00
3,000,000.00
3,000,000.00
361,367,000.00
1 ,000,000.00
1 ,000,000.00
2,000,000.00
33,000.00
33,000.00
2,000,000.00
5,000,000.00
5,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
1 ,000,000.00
2,000,040.00
1 ,000,000.00
1 ,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
1 ,000,000.00
5,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
3,000,000.00
3,000,000.00
4,000,000.00
INVESTED
AMOUNT
1,022,910.00
2,000,000.00
2,047,941 .08
362,754,607.08
2,914,250.00
2,914,250.00
365,668,857.08
1,031,328.00
1 ,030,781 .25
2,062,109.25
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
1,995,435.91
1 ,025,648.53
991,910.00
2,060,389.92
2,952,150.09
2,063,614.72
3,002,689.16
1,993,580.00
987,620.00
5,000,000.00
1,991,793.10
1 ,969,446.60
2,974,590.00
3,006,145.34
3,048,646.38
4,054,280.00
RETURN
RATE
5.500%
4.361%
2.600%
3.987%
3.109%
3.109%
2.430%
2.452%
2.441%
1.880%
1.880%
5.000%
5.060%
5.000%
4.450%
3.050%
3.100%
3.120%
4.000%
3.300%
4.448%
2.750%
4.900%
3.300%
4.720%
4.870%
5.090%
5.125%
5.220%
5.500%
5.400%
5.450%
5.050%
5.070%
INTEREST
243,840.00
440,000.00
258,135.31
52,573,917.68
171,500.00
171,500.00
52,745,417.68
118,792.86
121,777.13
240,569.99
620.00
620.00
226,519.50
573,720.49
703,633.99
178,713.33
121,014.34
122,750.52
55,816.19
75,492.97
75,101.47
118,090.00
127,985.08
653,849.91
169,690.84
483,790.01
276,642.22
145,734.17
1,279,114.58
507,609.68
507,178.40
784,610.00
798,687.99
616,853.62
815,903.33
INVESTMENT
RETURN
1,266,750.00
2,440,000.00
2,306,076.39
415,328,524.76
3,085,750.00
3,085,750.00
418,414,274.76
1,150,120.86
1,152,558.38
2,302,679.24
33,620.00
33,620.00
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
2,070,928.88
1,100,750.00
1,110,000.00
2,188,375.00
3,606,000.00
2,233,305.56
3,486,479.17
2,270,222.22
1,133,354.17
6,279,114.58
2,499,402.78
2,476,625.00
3,759,200.00
3,804,833.33
3,665,500.00
4,870,183.33
TERM
(Days)
1,771
1,826
1,788
1,183
343
343
1,526
1,755
1,783
1,769
365
365
832
810
1,042
726
716
715
646
519
818
973
834
1,637
921
1,248
1,039
1,053
1,823
1,782
1,700
1,777
1,781
1,473
1,458
INVESTMENT REPORT
AS OF JANUARY 31, 2009
INVESTMENT
DATE
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
12/23/2008
MATURITY
DATE
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
05/15/2013
TYPE
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
O
O
O
O
O
O
O
SECURITY
WELLS FARGO CO 5.30% DUE 8/26/11 NON-CALL
GENWORTH GLOBAL 5.375% DUE 9/15/11 NON-CAL
GENERAL ELECTRIC 5.50% DUE 11/15/11 CALL 11/1
GENERAL ELECTRIC 5.875% DUE 2/15/12 NON-CAL1
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-CAl
GENERAL ELECTRIC 5.250% DUE 10/19/12 NON-CAl
GENERAL ELECTRIC 5.250% DUE 10/19/12 NON-CAl
WELLS FARGO 5.250% DUE 10/23/12 NON-CALL
MET LIFE GLOBAL FUNDING 5.125% DUE 4/10/13 NC
MET LIFE GLOBAL FUNDING 5.125% DUE 4/10/13 NC
ALLSTATE LIFE 5.375% DUE 4/30/13 NON-CALL
NEW YORK LIFE 4.650% DUE 5/9/13 NON-CALL
BERKSHIRHATWY 4.60% DUE 5/15/13 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
NON-CALL
/11 NON-CAL
11 CALL 11/1
12NON-CAL1
2 NON-CALL
2 NON-CALL
NON-CALL
2 NON-CALL
2 NON-CALL
NON-CALL
i/1 2 NON-CAl
J/1 2 NON-CAl
}/1 2 NON-CAl
ON-CALL
JE 4/1 0/13 NC
JE 4/1 0/13 NC
)N-CALL
IN-CALL
JON-CALL
SUB-TOTAL
COUNT
RATION
ION
SUB-TOTAL
PAR
VALUE
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
1,000,000.00
92,806,040.00
568,714.00
2,127,740.53
409.36
23,697,520.32
16,574,315.72
23,549,376.02
31 ,082,858.05
97,600,934.00
INVESTED
AMOUNT
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
1,023,835.68
93,892,840.86
568,714.00
2,127,740.53
409.36
23,697,520.32
16,574,315.72
23,549,376.02
31 ,082,858.05
97,600,934.00
RETURN
RATE
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%
4.000%
4.744%
0.099%
0.099%
0.150%
2.060%
2.060%
2.060%
2.060%
2.006%
INTEREST
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
177,542.10
17,175,153.92
1.54
5.77
0.00
1 ,356.02
948.42
1 ,347.55
1 ,778.63
5,437.94
INVESTMENT
RETURN
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
1,201,377.78
1 1 1 ,067,994.78
568,715.54
2,127,746.30
409.36
23,698,876.34
16,575,264.14
23,550,723.57
31 ,084,636.68
97,606,371.94
TERM
(Days)
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
1,604
1,366
1
1
1
1
1
1
1
GRAND TOTAL 553,806,974.00 559,257,741.19 3.758% 17,616,903.53 627,122,261.48
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF JANUARY 31, 2009
Cash Balance by Fund:
General 64,510,199
Special Revenue 45,886,202
Debt Service 4,297,161
Capital Projects:
General Capital Construction 65,679,623
Traffic Impact Fees 14,078,410
Public Facilities Fees 41,595,109
Park Development 2,731,674
Transnet Taxes 5,542,120
Drainage Fees 8,426,845
Special Districts 85,728,587
Infrastructure Replacement 46,540,835
Other Capital Construction 5,052,377
Total 275,375,582
Enterprise:
Carlsbad Municipal Water District 62,812,825
Sewer Fund 55,658,933
Solid Waste 6,686,824
Storm Water 1,530,637
Golf Course 162,593
Total 126,851,812
Internal Service 24,404,841
Agency Funds 20,192,243
Redevelopment Funds (1) 0
Misc. Special Funds 0
Total General Ledger Balance ** 561,518,041
Reconciling Adjustments (2) (4,065,767)
Total Treasurer's Investment Portfolio at Amortized Cost 557,452,274
(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 02/09/09
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JANUARY 31, 2009
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 AA3 AA
BANK OF AMERICA AAA AA
BERKSHIRE HATHAWAY AAA AAA
CITIGROUP AA3 AA-
GENERAL ELECTRIC AAA AAA
GOLDMAN SACHS AA3 AA-
JOHNSON& JOHNSON AAA AAA
MET LIFE GLOBAL AA2 AA
NEW YORK LIFE AAA AAA
PRINCIPAL LIFE AA2 AA
TOYOTA AA1 AA-
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 *
GENWORTH GLOBAL
HOME DEPOT
MERRILL LYNCH
PROTECTIVE LIVE
* 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.
Moodv's
A1
BAA1
A1
A1
S&P
AA-
BBB+
A
AA
Latest
Maturity Date
09/1 5/201 1
03/01/2011
09/10/2009
07/15/2012
Purchased
05/07/2008
06/12/2006
11/03/2006
07/17/2008
Carrying
Value
2,012,995
2,989,122
4,975,424
3,000,000
Market
Value
1,615,160
3,014,160
4,947,150
2,680,950
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JANUARY 31, 2009
WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS
EXHIBIT 10
PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER
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
PROTECTIVE LIFE
TOYOTA
US BANKCORP
WAL-MART
WELLS FARGO
PERCENTAGE WEIGHTINGS BY FEDERAL
FAMCA
FEDERAL FARM CREDIT BANK
FEDERAL HOME LOAN BANK DISCOUNT NOTE
FEDERAL HOME LOAN BANK
FEDERAL HOME LOAN MORTGAGE CORP
FEDERAL NATIONAL MORTGAGE ASSOC
HOUSING URBAN DEVELOPMENT (HUD)
TVA
U.S.TREASURY
Total Portfolio
Investment Cost
2,023,559.81
1,983,918.00
5,102,966.65
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
6,049,715.91
2,952,150.09
13,235,872.90
5,157,732.73
AGENCY ISSUER
Investment Cost
5,795,867.32
31,478,125.56
2,914,250.00
172,611,143.10
97,787,386.63
51,960,906.47
990,198.00
2,130,980.00
2,062,109.25
Percent of Portfolio*
0.36%
0.35%
0.91%
1 .60%
4.92%
0.36%
0.18%
0.53%
0.18%
0.87%
0.54%
0.36%
0.18%
0.54%
1.08%
0.53%
2.37%
0.92%
Percent of Portfolio"
1.04%
5.63%
0.52%
30.86%
17.49%
9.29%
0.18%
0.38%
0.37%
$559,258,632.19
* No more than 5% may be invested with a single corporate issuer.
"There are no percentage limits on federal agency issuers.17