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HomeMy WebLinkAbout2009-06-09; City Council; 19847; Report on City Investments as of April 30, 2009CITY OF CARLSBAD - AGENDA BILL AB# 19,847 MTG. 06/09/09 DEPT. TRS REPORT ON CITY INVESTMENTS AS OF APRIL 30, 2009 DEPT. HEXp — " CITY ATTY. /&%, CITY MGR. (u^- RECOMMENDED ACTION: Accept and file report. ITEM EXPLANATION: The City's Investment Policy requires the City Treasurer to report to the City Council on a monthly basis the status of the City's pooled investment portfolio. A quarterly report is also required for the investments of bond proceeds held separately. The City's pooled investment portfolio as of the month ended April 30, 2009 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1) Market Value (2) Current Month 556,987,334 562,364,162 559,833,81 1 566,284,466 Prior Month 544,739,287 549,688,438 547,359,700 552,433,733 (1) The cost of investments adjusted for amortized premiums and discounts. (2) The amount at which the investments could be sold. Source of market values is Union Bank of California's custodial report as of 4/30/09. 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 $12.7 million increase between March '09 and April '09 cost of investments is a result of the receipt of $12 million in property taxes along with $2.6 million in franchise fees received during the month. FOR CITY CLERKS USE ONLY. COUNCIL ACTION: APPROVED D DENIED D CONTINUED D WITHDRAWN D AMENDED D CONTINUED TO DATE SPECIFIC D CONTINUED TO DATE UNKNOWN D RETURNED TO STAFF D OTHER - SEE MINUTES D Council received tbe report. DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 nsull@ci.carlsbad.ca.us PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF APRIL 30. 2009 FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) General Special Revenue Other $1.4 Internal Service $25.6 ' $17.0 Enterprise $126.6 Total Treasurer's Investment Portfolio at Amortized Cost April 30, 2009 $559.8 million Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 20,933,682 Prior Month FYTD 18,812,155 Current Month Income 2,121,527 The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement February 2009 March 2009 April 2009 Average Life (Years) 1.56 1.54 1.47 Average Yield To Maturity 3.57% 3.52% 3.33% Modified Duration 1.445 1.425 1.370 All pooled investments have been made in accordance with the City's Investment Policy adopted January 2, 1985 and last revised April 21, 2009. All investments were initially made in accordance with the City's Investment Policy. Events subsequent to the purchase might have resulted in some investments not being in compliance with the current policy. These events are typically a change in the City's Investment Policy, a change in the credit rating subsequent to a purchase, or a temporary reduction in total portfolio assets. See Exhibit 8 for details. The pooled investment portfolio has the ability to meet the City's cash flow demands for the next six (6) months. EXHIBITS FOR POOLED INVESTMENTS: 1. Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield 2. Investment Portfolio Breakdown Of Maturities 3. Yield Comparison Graph 4. Market Yield Curve 5. Cumulative Cash Income Graph 6. Fourth Quarter Transactions 7. Detailed Investment Report 8. Fund Equity in Pooled Investments 9. Corporate Note and Commercial Paper Ratings 10. Percentage Weightings By Corporate Note Issuer CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF APRIL 30, 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 TOTALS Current Month 33,000 12,208,901 0 7,115,710 305,391,211 101,722,695 126,675,655 4,454,657 1,355,928 876,053 $559,833,81 1 Prior Month 33,000 12,180,038 0 2,057,158 316,908,951 93,487,307 120,856,376 - 1,101,344 735,526 $547,359,699 CD - Certificate of Deposit FN - Federal Discount Notes Current Month 33,000 12,222,250 0 7,165,440 312,619,948 100,881,535 126,675,655 4,454,657 1 ,355,928 876,053 $566,284,466 TR - US Treasury FA - Federal Agency Prior Month 33,000 12,242,230 0 2,141,640 324,309,687 91,013,929 120,856,376 0 1,101,344 735,526 $552,433,732 Cash Income Year to Date 496 0 0 21,429 15,245,597 3,938,289 1,718,803 1,759 7,309 0 $20,933,682 Current Month 0.90 2.82 0.00 1.06 3.76 4.59 1.61 0.24 0.10 0.10 3.33% LAIF - Local Agency Investment Fund Custody - Investment Cash account Prior Month 0.90 2.82 0.00 2.44 3.83 4.74 1.92 0.32 0.10 0.10 3.52% m Xre CP - Corporate Paper CN - Corporate Notes SWEEP - General Fund Overnight Cash acccount Bank Account - General Fund Cash account CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF APRIL 30,2009 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 0 2,914,250 0 0 65,277,864 14,086,093 126,675,655 4,454,657 1,355,928 876,053 $215,640,501 (1) 38.4% 33,000 0 0 1,991,806 34,132,979 5,097,515 0 0 0 0 $41,255,299 (1) 7.3% $256,895,801 (1) 1 TO 5 YEARS 0 9,201,104 0 5,131,601 208,159,419 82,976,237 0 0 0 0 $305,468,361 54.3% TOTAL 33,000 12,115,354 0 7,123,408 307,570,262 102,159,845 126,675,655 4,454,657 1,355,928 876,053 $562,364,162 100.0% % TOTAL 0.0% 2.2% 0.0% 1.3% 54.7% 18.2% (2) 22.5% 0.8% 0.2% 0.2% 100.0% 45.7% POLICY: (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. xrei—i COI—i —I ro .75 .00 YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1996 - APRIL 2009 MARKET YIELD CURVE 6/30/07, 6/30/08,4/30/09 Market Rates O.O i 4c-O 3 C.0 2 C.0 2 1 ** '1 .0 •11 O c.0 0 ^ ^ — ^^^^^^^^^^^^^•^^^^^^*^^B ^^^*M ^ — • ^* "* -1* ^*" ^^ -^ — * "^ ^~~~~ *^> •— "* "^^ ^^^^^"* ^-* ^^ -^--*^' ^^^^^~*r ^-~~~~~*n i 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 -^-04/30/2009 .13 .90 2.01 3.12 Xn:i—i DO Cumulative Cash Income FY08-09 Cumulative Millions $(April 09 ) Monthly Interest Income Millions $ Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Em Interest Income --»--Budget Actual mx CO City of Carlsbad TRANSACTIONS FOR PERIOD: 04/01/09 TO 04/30/2009 4th QUARTER 2008-2009 Trans Date BUYS APRIL 03/30/2009 04/16/2009 04/15/2009 04/16/2009 04/20/2009 04/16/2009 04/20/2009 04/15/2009 04/23/2009 04/29/2009 Investment Date 04/02/2009 04/17/2009 04/21/2009 04/21/2009 04/21/2009 04/22/2009 04/23/2009 04/27/2009 04/28/2009 04/30/2009 TOTAL FOURTH QUARTER Type CN FA CN CN TR FA CN FA CN TR Security ROYAL BANK OF CANADA FHLB TOYOTA FIN BERKSHIRE HATHAWAY US TREASURY FHLB BERKSHIRE HATHAWAY FHLMC CITIGROUP US TREASURY Call Date N/A N/A N/A N/A N/A N/A N/A 04/27/2010 N/A N/A 2008-2009 Par Value 1 ,000,000.00 1 ,000,000.00 2,000,000.00 1 ,000,000.00 3,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 20,000,000.00 Coupon 5.650% 5.250% 5.375% 4.000% 2.625% 1.125% 4.000% 1 .750% 2.875% 0.000% Amount Cost 1,066,260.00 1 ,049,288.56 2,078,000.00 1 ,022,563.95 3,069,492.19 3,000,000.00 2,039,340.00 3,000,000.00 2,060,840.00 1,991,806.11 20,377,590.81 Return Rate 2.659% 0.930% 3.372% 3.200% 0.529% 1.125% 3.300% 1 .750% 1 .680% 0.437% 1 .74% Interest 63,690 1 1 ,086 142,375 96,769 17,911 50,625 198,882 118,125 89,458 8,193 797,117 .00 .44 .00 .38 .66 .00 .22 .00 .61 .89 .20 Investment Return 1,129,950.00 1 ,060,375.00 2,220,375.00 1,119,333.33 3,087,403.85 3,050,625.00 2,238,222.22 3,118,125.00 2,150,298.61 2,000,000.00 21,174,708.01 MATURITIES APRIL MAY 04/07/2008 04/28/2004 05/05/2004 11/08/2007 06/11/2008 02/13/2008 TOTAL FOURTH QUARTER FA FA FA FA FA FA FHLB FHLMC FHLMC FFC FNMA FHLB N/A 04/28/2006 N/A N/A N/A N/A 2008-2009 2,000,000.00 5,000,000.00 5,000,000.00 2,000,000.00 1 ,005,000.00 1 ,000,000.00 16,005,000.00 3.250% STEP STEP 9.550% 4.250% 4.070% 2,000,000.00 5,000,000.00 5,000,000.00 2,155,378.00 1,018,080.08 1,019,418.00 16,192,876.08 3.25% 3.47% 4.26% 4.19% 2.82% 2.53% 3.68% 18,597 875,000 1,075,000 133,244 26,547 33,152 2,161,541 .22 .00 .00 .22 .63 .83 .90 2,018,597.22 5,875,000.00 6,075,000.00 2,288,622.22 1 ,044,627.71 1 ,052,570.83 18,354,417.98 CALLS and /or SALES APRIL 08/16/2007 04/27/2009 04/18/2009 04/21/2008 08/17/2007 04/28/2006 04/20/2006 04/28/2008 TOTAL FOURTH QUARTER FA FA FA FA FHLMC FNMA FNMA FNMA 04/03/2009 04/06/2009 04/06/2009 04/28/2009 2008-2009 3,000,000.00 2,421 ,000.00 3,000,000.00 3,000,000.00 1 1 ,421 ,000.00 5.250% 5.250% 5.250% 3.000% 2,998,500.00 2,396,790.00 2,976,375.00 2,999,250.00 11,370,915.00 5.26% 5.48% 5.43% 3.01% 4.76% 730,375 651 ,955 805,000 180,750 2,368,080 .00 .12 .00 .00 .12 3,728,875.00 3,048,745.12 3,781 ,375.00 3,180,000.00 13,738,995.12 Xn:i—i 03 CTl INVESTMENT REPORT AS OF APRIL 30, 2009 INVESTMENT DATE 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 01/31/2008 01/22/2008 01/22/2008 01/22/2008 02/01/2008 •^) 01/28/2008 01/31/2008 MATURITY DATE 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 09/1 1/2009 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 02/12/2010 02/12/2010 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 FHLMC CALL 05/05/05 FFC9.55% NON-CALL FNMA4.25% NON-CALL FHLB4.07% NON-CALL FHLB5.25% NON-CALL FHLB5.25% NON-CALL FHLB5.25% NON-CALL FHLB 5.250% NON-CALL FHLB 5.250% NON-CALL FHLMC 4.10% NON-CALL FHLMC 3.25% NON-CALL FHLB 5.375% NON-CALL FFCB5.15% NON-CALL FFCB5.150% NON-CALL FHLB 3.1% NON-CALL FHLB 4.180% NON-CALL FHLB 3.10% NON-CALL FHLMC 4.375% NON-CALL FHLMC 4.375% NON-CALL FHLMC 4.375% NON-CALL HUD 4.430% NON-CALL FHLB 5.25% NON-CALL FHLB 5.25% NON-CALL FFCB5.00% NON-CALL FHLB 4.378% NON-CALL FHLB 4.375% NON-CALL FHLB 5.25% NON-CALL FHLMC 3.5$ NON-CALL FHLB 5.0% NON-CALL FFCB5.00% NON-CALL FNMA4.0% NON-CALL FFCB 4.350% NON-CALL FFCB 4.125% NON-CALL FHLB 4.25% NON-CALL FNMA4.0% NON-CALL FHLMC 4.125% NON-CALL FHLB 5.0% NON-CALL FHLMC 3.25% CALL 7/29/08 FHLB 3.875% NON-CALL FHLB 37.375% NON-CALL INVESTED AMOUNT 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 2,038,020.00 2,124,168.80 3,114,720.00 3,000,000.00 1 ,020,550.00 2,177,668.00 RETURN RATE 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% 2.916% 2.918% 2.900% 3.250% 2.830% 2.841% INTEREST 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 50,861.67 107,313.33 112,177.87 168,196.67 194,458.33 58,456.94 122,248.67 INVESTMENT RETURN 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 2,145,333.33 2,236,346.67 3,282,916.67 3,194,458.33 1 ,079,006.94 2,299,916.67 TERM (Days) 1,826 551 338 470 821 759 688 673 464 434 512 438 726 711 475 552 273 573 504 492 809 1,008 561 731 912 598 588 687 928 597 645 610 655 652 664 666 689 728 746 743 xrei—ien INVESTMENT REPORT AS OF APRIL 30, 2009 INVESTMENT DATE 09/29/2008 01/28/2008 02/04/2008 02/13/2008 04/02/2008 10/30/2008 04/22/2008 01/28/2008 07/25/2007 04/22/2008 05/05/2008 12/21/2007 03/16/2009 02/26/2008 05/08/2008 04/17/2009 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 03/11/2009 09/26/2007 05/05/2008 04/22/2009 11/20/2008 12/23/2008 12/05/2008 01/20/2009 02/20/2008 11/20/2007 01/28/2008 * 08/31/2007 MATURITY DATE 02/12/2010 03/08/2010 03/12/2010 03/12/2010 03/12/2010 03/12/2010 04/07/2010 04/28/2010 05/03/2010 05/11/2010 05/14/2010 05/28/2010 06/16/2010 06/11/2010 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 09/10/2010 09/13/2010 10/22/2010 10/22/2010 11/19/2010 12/30/2010 12/16/2010 01/20/2011 03/11/2011 05/20/201 1 05/20/201 1 06/10/2011 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 FHLMC3.125% NON-CALL FNMA4.40% NON-CALL FHLB 2.375% NON-CALL FHLB 2.375% NON-CALL FHLB 2.750% NON-CALL FHLB 2.750% NON-CALL FFCB 2.375% NON-CALL FHLMC4.02% NON-CALL FFCB 4.780% NON-CALL FFCB 5.320% NON-CALL FHLB 7.625% NON-CALL FNMA 3.625% NON-CALL FHLB 1.250% NON-CALL FHLB 4.25% NON-CALL FHLB 3.00% NON-CALL FHLB 5.25% NON-CALL FHLMC3.50% NON-CALL FHLB 4.5% NON-CALL FNMA 5.125% NON-CALL FFCB 3.200% NON-CALL FHLB 4.44% NON-CALL FNMA 4.70% NON-CALL FHLB 5.00% NON-CALL FHLB 4.7% NON-CALL FHLB 3.190% CALL 8/12/08 FHLMC 5.125% NON-CALL FHLB 5.125% NON-CALL FHLB 3.00% NON-CALL FHLB 3.375% NON-CALL FHLB 1.4% NON-CALL FFCB 5.25% NON-CALL FHLB 4.375% NON-CALL FHLB 1.125% NON-CALL FFCB 2.875% CALL 5/19/09 FHLB 1.70% CALL 12/30/09 FHLMC 4.50% NON-CALL FHLMC 2.0% CALL 4/20/09 FHLB 2.875% NON-CALL FHLB 4.5% CALL 11/20/09 FHLB 4.5% CALL 11/20/09 FHLB 5.275% NON-CALL INVESTED AMOUNT 2,997,750.00 2,064,240.00 1,989,880.00 1 ,994,095.84 1 ,006,020.00 2,978,060.95 1 ,984,800.00 1 ,537,935.00 1 ,981 ,720.00 1,050,120.00 3,273,695.78 1,996,499.26 1 ,000,000.00 1,030,795.00 999,862.00 1,049,288.56 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 2,000,000.00 2,041,700.00 1 ,032,893.26 3,000,000.00 2,000,000.00 1 ,000,000.00 3,119,880.00 3,000,000.00 2,993,378.76 2,016,000.00 3,078,630.00 1 ,020,930.00 RETURN RATE 3.180% 2.821% 2.622% 2.520% 2.430% 3.300% 2.776% 2.850% 5.135% 2.790% 2.950% 3.700% 1.250% 2.849% 3.005% 0.930% 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% 1 .400% 4.490% 2.980% 1.125% 2.875% 1 .700% 2.470% 2.000% 2.950% 4.252% 3.651% 4.761% INTEREST 130,635.42 121,537.78 110,133.89 104,730.55 47,452.22 134,689.05 108,220.83 97,740.00 283,304.44 59,087.78 189,522.97 180,118.80 15,625.00 66,482.78 62,888.00 11,086.44 185,028.33 373,365.00 150,405.14 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 41,922.22 269,508.33 74,901.88 50,625.00 114,840.28 34,000.00 154,245.00 120,000.00 270,402.49 299,000.00 368,370.00 181,976.25 INVESTMENT RETURN 3,128,385.42 2,185,777.78 2,100,013.89 2,098,826.39 1 ,053,472.22 3,112,750.00 2,093,020.83 1 ,635,675.00 2,265,024.44 1,109,207.78 3,463,218.75 2,176,618.06 1,015,625.00 1 ,097,277.78 1,062,750.00 1,060,375.00 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 2,041 ,922.22 2,31 1 ,208.33 1,107,795.14 3,050,625.00 2,114,840.28 1,034,000.00 3,274,125.00 3,120,000.00 3,263,781.25 2,315,000.00 3,447,000.00 1 ,202,906.25 TERM (Days) 501 770 767 758 709 498 715 821 1,013 749 739 889 457 836 764 420 680 987 1,077 730 866 889 898 1,015 912 1,070 1,080 855 644 548 1,083 900 548 729 737 741 730 1,115 1,277 1,208 1,379 INVESTMENT REPORT AS OF APRIL 30,2009 INVESTMENT DATE 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 03/31/2009 04/27/2009 03/19/2007 01/23/2009 08/26/2008 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 03/26/2007 03/26/2007 04/20/2007 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 02/27/2009 11/12/2008 MATURITY DATE 06/10/2011 06/10/2011 06/15/2011 06/30/2011 07/07/2011 07/14/2011 07/15/2011 07/15/2011 07/15/2011 07/15/2011 07/27/2011 08/15/2011 08/15/2011 08/26/2011 08/29/2011 09/09/2011 09/09/2011 09/09/2011 09/15/2011 10/05/2011 10/05/2011 10/19/2011 10/27/2011 11/18/2011 03/26/2012 03/26/2012 03/26/2012 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 08/27/2012 09/06/2013 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 FHLB5.25% NON-CALL FHLB5.25% NON-CALL FHLMC5.03% CALL 6/15/09 FHLB 5.650% CALL 6/30/09 FNMA 4.00% CALL 07/07/09 FNMA3.64% NON-CALL FAMCA5.50% NON-CALL FAMCA5.50% NON-CALL FAMCA5.5% NON-CALL FFCB 3.625% NON-CALL FHLMC1.75% CALL 4/27/10 FHLB 5.75% NON-CALL FHLB 5.75% NON-CALL FNMA 4.0% CALL 8/26/09 FHLMC 3.53% CALL 5/29/09 FHLB 5.00% NON-CALL FHLB 5.00% NON-CALL FHLB 5.00% NON-CALL FHLMC 5.50% NON-CALL FHLB 4.875% NON-CALL FHLB 4.9% CALL 10/05/09 FHLB 5.00% CALL 10/19/09 FHLB 5.30% CALL 10/27/09 FHLB 4.875% NON-CALL FHLMC 5.0% CALL 3/26/10 FHLMC 5.0% CALL 3/26/10 FHLMC 5.0% CALL 3/26/10 FFCB 4.875% NON-CALL TVA 6.790% NON-CALL FHLMC 5.4% CALL 6/4/09 FHLB 5.375% NON-CALL FHLB 5.375% NON-CALL FHLB 4.375% NON-CALL FHLB 5.750% CALL 6/26/09 FHLB 5.58% CALL 7/20/10 FFCB 3.950% NON-CALL FHLB 5.52% CALL 7/30/10 FHLB 4.35% CALL 8/13/10 FHLB 4.625% NON-CALL FNMA 2.625% CALL 8/27/10 FHLB 4.0% NON-CALL INVESTED AMOUNT 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 1 ,044,420.00 3,000,000.00 3,111,810.00 1 ,097,950.00 999,500.00 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 2,000,000.00 3,000,000.00 999,687.50 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 2,000,000.00 1 ,007,890.00 RETURN RATE 3.345% 2.720% 5.030% 5.650% 4.063% 4.805% 5.175% 4.781% 3.545% 1 .639% 1 .750% 4.800% 1.818% 4.018% 3.530% 4.773% 4.730% 1 .958% 4.390% 4.720% 4.900% 5.000% 4.033% 4.795% 5.000% 5.000% 5.006% 5.015% 5.235% 4.884% 5.255% 5.250% 3.900% 4.760% 4.677% 3.910% 5.520% 4.357% 2.391% 2.625% 3.818% INTEREST 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 85,530.00 118,125.00 648,148.33 49,313.89 120,500.00 114,725.00 432,911.11 640,148.00 53,868.89 522,075.00 647,473.00 392,000.00 600,000.00 301,311.11 672,403.75 500,000.00 750,000.00 246,979.17 489,057.50 524,632.22 174,670.00 256,692.64 256,478.21 460,552.31 415,625.56 220,300.00 310,466.67 488,520.00 348,500.00 176,901.11 183,750.00 184,776.67 INVESTMENT RETURN 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 1,129,950.00 3,118,125.00 3,759,958.33 1,147,263.89 1,120,000.00 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 2,500,000.00 3,750,000.00 1,246,666.67 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 2,183,750.00 1,192,666.67 TERM (Days) 1,128 996 1,553 1,826 1,064 1,588 1,444 1,414 1,163 836 821 1,610 934 1,095 1,187 1,649 1,639 959 1,416 1,665 1,461 1,461 1,331 1,705 1,827 1,827 1,802 1,788 1,764 1,293 1,780 1,780 1,424 1,561 1,684 1,448 1,827 1,461 1,294 1,277 1,759 INVESTMENT REPORT AS OF APRIL 30,2009 INVESTMENT DATE 09/10/2007 03/12/2009 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 03/10/2008 05/14/2008 06/10/2008 11/10/2008 12/03/2008 08/27/2008 12/17/2008 11/12/2008 11/19/2008 11/26/2008 01/20/2009 02/12/2009 03/26/2009 10/23/2008 03/12/2009 02/11/2009 02/18/2009 02/25/2009 03/02/2009 03/02/2009 MATURITY DATE 09/10/2012 09/12/2012 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 03/08/2013 05/14/2013 06/10/2013 06/14/2013 07/08/2013 07/17/2013 09/13/2013 09/18/2013 09/25/2013 11/26/2013 12/13/2013 02/12/2014 03/26/2014 10/01/2009 03/26/201 1 08/08/201 1 05/11/2012 05/11/2012 05/11/2012 10/06/2012 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 FN FN FN FN FN FN FN SECURITY FNMA5.20% CALL 9/13/09 FHLMC2.0% CALL 3/12/10 FHLB5.00% NON-CALL FHLB4.5% NON-CALL FHLMC5.05% CALL 10/15/09 FFCB4.5% NON-CALL FHLB5.00% CALL 4/22/10 FNMA 5.00% CALL 10/30/09 FNMA5.00% CALL 10/30/09 FNMA 6.41% NON-CALL FHLMC 4.375% CALL 12/21/09 FHLMC 4.375% CALL 12/21/09 FHLB4.7% CALL 1/7/10 FHLB 4.25% CALL 10/14/08 FHLB3.50% NON-CALL FHLB 4.00% CALL 5/15/10 FHLMC 4.0% CALL 6/10/09 FHLB 5.375% NON-CALL FFCB 4.625% CALL 7/8/10 FNMA 4.375% NON-CALL FHLB 4.375% NON-CALL FNMA 4.05% CALL 9/18/09 FHLMC 50.5% CALL 9/25/09 FHLB 3.5% CALL 11/26/10 FHLB 3.125% NON-CALL FNMA 2.00% CALL 2/12/10 FHLMC 2.50% CALL 6/26/09 STEP FHLBN 0% NON-CALL FICOO.0% NON-CALL FICO STRIP 0.00% NON-CALL FICO STRIP 0.00% NON-CALL FICO STRIP 0.00% NON-CALL FICOO.0% NON-CALL FICOO.0% NON-CALL INVESTED AMOUNT 1 ,000,000.00 2,000,000.00 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 2,963,940.00 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 1,022,910.00 2,000,000.00 2,047,941 .08 2,000,000.00 3,000,000.00 SUB-TOTAL 307,570,261 .78 2,914,250.00 956,370.00 1,889,240.00 916,713.56 1,826,280.00 1,818,680.00 1 ,793,820.00 SUB-TOTAL 12,115,353.56 RETURN RATE 5.200% 2.710% 3.640% 3.889% 4.892% 4.100% 5.000% 4.746% 4.653% 3.890% 4.675% 4.675% 4.061% 4.250% 3.765% 4.000% 4.717% 3.800% 3.983% 3.970% 2.625% 4.192% 5.500% 4.361% 2.600% 3.500% 4.208% 3.757% 3.109% 2.200% 2.300% 2.710% 2.850% 3.000% 3.050% 2.817% INTEREST 260,000.00 190,000.00 192,237.89 160,020.00 243,661.11 401 ,970.00 500,000.00 705,333.33 460,000.00 331 ,405.40 1,168,750.00 935,000.00 409,022.22 637,500.00 560,476.67 320,000.00 714,000.00 181,163.02 371 ,823.06 392,177.78 259,712.78 405,250.00 243,840.00 440,000.00 258,135.31 355,000.00 615,000.00 39,122,813.78 171,500.00 43,630.00 110,760.00 83,286.44 173,720.00 181,320.00 206,180.00 970,396.44 INVESTMENT RETURN 1 ,260,000.00 2,190,000.00 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 3,524,416.67 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 1,266,750.00 2,440,000.00 2,306,076.39 2,355,000.00 3,615,000.00 346,693,075.56 3,085,750.00 1 ,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 13,085,750.00 TERM (Days) 1,827 1,280 1,593 1,484 1,813 1,773 1,827 1,798 1,790 1,624 1,827 1,827 1,811 1,827 1,824 1,826 1,826 1,677 1,678 1,785 1,731 1,771 1,771 1,826 1,788 1,826 1,826 1,123 343 744 908 1,178 1,171 1,166 1,314 975 Federal Investments Total 319,685,615.34 40,093,210.22 359,778,825.56 2,098 INVESTMENT REPORT AS OF APRIL 30, 2009 INVESTMENT MATURITY DATE 04/30/2009 04/21/2009 11/10/2008 11/12/2008 03/02/2009 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 04/21/2009 05/21/2007 04/02/2009 05/30/2008 05/30/2008 05/29/2007 04/28/2009 03/20/2007 10/11/2007 11/15/2007 DATE 04/08/2010 05/31/2010 08/31/2013 09/30/2013 03/02/2010 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 04/28/2011 05/09/2011 05/18/2011 07/20/2011 08/26/201 1 09/15/2011 11/15/2011 12/09/2011 02/15/2012 02/15/2012 02/15/2012 TYPE TR TR 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 CN CN CN CN CN CN CN CN CN SECURITY US TREASURY US TREASURY US TREASURY US TREASURY SUB-TOTAL WELLS FARGO BANK 9218910637 SUB-TOTAL BANK OF AMERICA 4.625% NON-CALL WAL-MART 6.875% NON-CALL MERRILL LYNCH 4.125% NON-CALL GENERAL ELECTRIC 5.250% NON-CALL BERKSHIRHATWY4.125% NON-CALL BERKSHIRHATWY4.125% NON-CALL WELLS FARGO CO 4.2% NON-CALL TOYOTA 3.834% NON-CALL GOLDMAN SACHS 4.50% NON-CALL WAL-MART 4.125% NON-CALL WAL-MART 4.125% NON-CALL US BANCORP 4.50% NON-CALL WELLS FARGO 4.625% NON-CALL WAL-MART 4.75% NON-CALL WAL-MART 4.75% NON-CALL NEW YORK LIFE 4.625% NON-CALL CITIGROUP 5.125% NON-CALL CITIGROUP 5.125% NON-CALL CITIGROUP 5.125% NON-CALL HOME DEPOT 5.20% NON-CALL GENERAL ELECTRIC 5.50% NON-CALL GENERAL ELECTRIC 5.50% NON-CALL TOYOTA FIN 5.375% NON-CALL TOYOTA 5.450% NON-CALL ROYAL BANK OF CANADA 5.65% NON-CALL WELLS FARGO CO 5.30% NON-CALL GENWORTH GLOBAL 5.375% NON-CALL GENERAL ELECTRIC 5.50% CALL 11/15/08 CITIGROUP 2.875% NON-CALL GENERAL ELECTRIC 5.875% NON-CALL GENERAL ELETRIC 5.875% NON-CALL GENERAL ELETRIC 5.875% NON-CALL INVESTED AMOUNT 1,991,806.11 3,069,492.19 1 ,031 ,328.00 1,030,781.25 7,123,407.55 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 2,078,000.00 4,054,280.00 1,066,260.00 1,032,919.79 2,016,628.76 1 ,850,000.00 2,060,840.00 6,187,688.40 3,089,347.40 2,089,414.35 RETURN RATE 0.437% 0.529% 2.430% 2.452% 1.057% 0.900% 0.900% 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% 3.372% 5.070% 2.659% 4.200% 5.100% 5.500% 1.680% 4.970% 5.100% 4.700% INTEREST 8,193.89 17,911.66 118,792.86 121,777.13 266,675.54 620.00 620.00 226,519.50 573,720.49 703,633.99 178,713.33 121,014.34 122,750.52 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 1,279,114.58 507,609.68 507,178.40 784,610.00 798,687.99 616,853.62 142,375.00 815,903.33 63,690.00 138,741.32 344,093.46 453,918.06 89,458.61 1 ,483,867.09 676,360.93 409,960.65 INVESTMENT RETURN 2,000,000.00 3,087,403.85 1,150,120.86 1,152,558.38 7,390,083.09 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 2,220,375.00 4,870,183.33 1,129,950.00 1,171,661.11 2,360,722.22 2,303,918.06 2,150,298.61 7,671 ,555.49 3,765,708.33 2,499,375.00 TERM (Days) 343 405 1,755 1,783 1,072 365 365 832 810 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 1,473 748 1,458 839 1,183 1,203 1,631 955 1,793 1,588 1,553 INVESTMENT REPORT AS OF APRIL 30, 2009 INVESTMENT DATE 04/21/2009 04/23/2009 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 04/15/2012 04/15/2012 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 O O O O O O O 0 SECURITY BERKSHIRHATWY4.00% NON-CALL BERKSHIRHATWY4.00% NON-CALL PRINCIPAL LIFE INC 4.5% NON-CALL GENERAL ELECTRIC 6.00% NON-CALL GENERAL ELECTRIC 6.00% NON-CALL PROTECTIVE LIFE 5.050% NON-CALL JOHNSON & JOHNSON 5.15% NON-CALL GENERAL ELECTRIC 5.250% NON-CALL GENERAL ELECTRIC 5.250% NON-CALL WELLS FARGO 5.250% NON-CALL MET LIFE GLOBAL FUNDING 5.125C MET LIFE GLOBAL FUNDING 5.125C ALLSTATE LIFE 5.375% NON-CALL NEW YORK LIFE 4.650% NON-CALL BERKSHIRHATWY4.60% NON-CALL WELLS FARGO BANK CORPORATE CASH MANAGEMENT ACCOUNT LIBRARY ACCOUNT UNION TRUST L A I F WATER DISTRICT L A I F PUBLIC IMPROVEMENT L A I F PUBLIC FINANCING CORPORATION L A I F CITY OF CARLSBAD INVESTED AMOUNT LL 1,022,563.95 LL 2,039,340.00 ML CALL CALL 1 1 1 ,000,000.00 ,033,437.31 ,052,958.51 ALL 3,000,000.00 <J-CALL -CALL -CALL % NON-CALI % NON-CALI 1,017,457.28 2,036,663.70 2,065,283.50 1 1 ,042,814.41 ,003,232.48 2,019,402.04 L 2,023,559.81 _L LL SUB-TOTAL T ACCOUNT 1 1 102 1 ,006,649.66 ,023,835.68 ,159,844.81 875,230.00 ,355,928.05 823.42 4,454,657.43 31,712,000.00 RPORATION 32,676,185.06 )RATION 31,467,398.85 30,820,071.10 SUB-TOTAL 133,362,293.91 RETURN RATE 3.200% 3.300% 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% 4.589% 0.100% 0.100% 0.000% 0.240% 1.610% 1.610% 1.610% 1.610% 1.539% INVESTMENT TERM INTEREST 96,769.38 198,882.22 178,375.00 253,896.02 189,541.49 605,158.33 237,753.83 484,836.30 449,799.83 205,539.76 251 ,024.46 485,410.46 504,981 .86 225,850.34 177,542.10 17,766,329.13 2.40 3.71 - 29.70 1,418.23 1 ,461 .35 1 ,407.29 1 ,378.34 5,701 .03 RETURN (Days) 1,119,333.33 2,238,222.22 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 1,201,377.78 119,926,173.94 875,232.40 1,355,931.76 823.42 4,454,687.13 31,713,418.23 32,677,646.41 31,468,806.14 30,821,449.44 133,367,994.94 ,090 ,088 ,447 ,750 ,477 ,459 ,811 ,815 ,792 ,728 ,812 ,799 ,796 ,826 ,604 ,321 1 1 1 1 1 1 1 1 GRAND TOTAL 562,364,161.61 3.327% 18,291,175.34 620,496,697.53 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF APRIL 30, 2009 Cash Balance by Fund: General 68,003,911 Special Revenue 45,813,137 Debt Service 4,907,259 Capital Projects: General Capital Construction 65,596,123 Traffic Impact Fees 14,282,999 Public Facilities Fees 42,175,307 Park Development 2,348,616 Transnet Taxes 5,463,767 Drainage Fees 8,241,836 Special Districts 85,614,252 Infrastructure Replacement 46,504,393 Other Capital Construction 5,213,017 Total 275,440,309 Enterprise: Carlsbad Municipal Water District 62,454,220 Sewer Fund 54,576,145 Solid Waste 7,063,893 Storm Water 1,675,804 Golf Course 803,874 Total 126,573,935 Internal Service 25,614,793 Agency Funds 16,977,975 Redevelopment Funds (1) 0 Misc. Special Funds 0 Total General Ledger Balance ** 563,331,318 Reconciling Adjustments (2) (3,497,507) Total Treasurer's Investment Portfolio at Amortized Cost 559,833,811 (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 05/11/09 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of April 30, 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 AA2 AAA AAA AA2 AAA AA2 AA1 AA2 AA2 AA3 AAA AAA AAA AA- AAA AA- AA+ AA AA AA BERKSHIRE HATHAWAY GENERAL ELECTRIC JOHNSON & JOHNSON MET LIFE GLOBAL NEW YORK LIFE PRINCIPAL LIFE TOYOTA US BANCORP WAL-MART WELLS FARGO 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 * ALL STATE LIFE BANK OF AMERICA CITIGROUP GENWORTH GLOBAL GOLDMAN SACHS 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 AA2 A3 A1 A1 BAA1 A1 A2 S&P AA- A+ A A A BBB+ A AA- Purchased 05/30/2008 04/24/2007 06/20/2006 05/07/2008 03/19/2008 06/12/2006 11/03/2006 07/17/2008 Carrying Value 2,019,154 1,998,193 1 1 ,045,902 2,011,756 1,012,856 2,990,428 4,985,524 3,000,000 Market Value 1 ,968,960 1 ,987,680 10,487,520 1,514,540 1,009,070 3,056,790 5,000,700 2,796,960 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF APRIL 30, 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 ROYAL BANK OF CANADA TOYOTA US BANKCORP WAL-MART WELLS FARGO PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER FAMCA FICO 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 * No more than 5% may be invested with a single corporate issuer. "There are no percentage limits on federal agency issuers. Investment Cost 2,023,559.81 1,983,918.00 8,164,870.82 11,022,079.70 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 1,066,260.00 8,127,715.91 2,952,150.09 13,235,872.90 5,157,732.51 CY ISSUER Investment Cost 5,795,867.32 9,201,103.56 32,522,545.56 2,914,250.00 159,993,371.96 73,394,675.78 32,742,623.16 990,198.00 2,130,980.00 7,123,407.55 Percent of Portfolio' 0.36% 0.35% 1.45% 1.96% 4.89% 0.36% 0.18% 0.53% 0.18% 0.87% 0.54% 0.35% 0.18% 0.53% 0.19% 1.45% 0.52% 2.35% 0.92% Percent of Portfolio" 1.03% 1.64% 5.78% 0.52% 28.45% 13.05% 5.82% 0.18% 0.38% 1.27% $562,364,161.61 17