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HomeMy WebLinkAbout2009-10-06; City Council; 19977; Report on City investments as of Aug 31 2009CITY OF CARLSBAD - AGENDA BILL AB# MTG. DEPT. 19.977 10/06/09 TRS REPORT ON CITY INVESTMENTS AS OF AUGUST 31, 2009 DEPT. HEAD iflfl/ CITYATTY. f<dj&[ CITY MGR. (x>--~ 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 August 31, 2009 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1) Market Value (2) Current Month 548,127,036 554,536,512 552,123,651 561,010,574 Prior Month 558,072,723 564,396,813 561 ,935,545 570,170,177 (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 8/31/09. 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 8 for a more detailed breakdown. The decrease of $9 million between July '09 and August '09 in the cost of investments is due to the payment of debt service on City bonds. FOR CITY CLERKS USE ONLY. COUNCIL ACTION:APPROVED DENIED CONTINUED WITHDRAWN AMENDED D D D D D CONTINUED TO DATE SPECIFIC D CONTINUED TO DATE UNKNOWN D RETURNED TO STAFF D OTHER - SEE MINUTES D GoUT-lci-l af*Pf*nt'pH t"VlP TfannTt" DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 nsull@ci.carlsbad.ca.us PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF AUGUST 31. 2009 FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) General $61.5Other $19 Internal Service $26.5 Agency Special Revenue $ 46.6 Capital Projects $ 280.2 Enterprise $122.4 Total Treasurer's Investment Portfolio at Amortized Cost August 31,21(09 S552.1 million Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 3,959,978 Prior Month FYTD 1 ,991 ,746 Current Month Income 1 ,968,232 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement June 2009 July 2009 August 2009 Average Life (Years) 1.58 1.54 1.63 Average Yield To Maturity 2.97% 2.86% 2.82% Modified Duration 1.478 1.452 1.540 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 9 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 AUGUST 31, 2009 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS AMORTIZED COST MARKET VALUE AVERAGE YIELD Class CD FN CP TR FA CN LAIF CUSTODY SWEEP BANK ACCT Current Month 33,000 15,324,159 0 92,619,760 292,528,213 113,166,563 36,208,622 45,775 914,116 1 ,283,442 Prior Month Current Month 33,000 15,293,542 0 92,689,490 285,550,103 115,721,767 49,997,188 94,526 1,329,590 1,226,339 33,000 15,424,250 0 92,689,980 298,689,158 115,722,231 36,208,622 45,775 914,116 1 ,283,442 Prior Month 33,000 15,302,060 0 92,717,800 291,597,845 117,871,828 49,997,188 94,526 1 ,329,590 1 ,226,339 Cash Income Year to Date Current Month Prior Month 50 0 0 71 ,900 2,086,552 1,371,276 429,907 11 282 0 0.90 2.32 0.00 0.35 3.33 4.23 0.99 0.15 0.10 0.10 0.90 2.32 0.00 0.35 3.43 4.38 1.05 0.19 0.10 0.10 TOTALS $552,123,651 $561,935,545 $561,010,574 $570,170,177 $3,959,978 2.82%2.86% CM CD - Certificate of Deposit FN - Federal Discount Notes CP - Corporate Paper TR - US Treasury FA - Federal Agency CN - Corporate Notes LAIF - Local Agency Investment Fund Custody - Investment Cash account SWEEP - General Fund Overnight Cash acccount Bank Account - General Fund Cash account mx DO CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF AUGUST 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 Year WITHIN 6 MONTHS 0 5,908,819 0 62,170,949 33,279,080 12,012,386 36,208,622 45,775 914,116 1,283,442 $151,823,190 (1) 27.4% 7 MONTHS TO 1 YEAR 33,000 0 0 25,526,455 47,862,969 16,075,380 0 0 0 0 $89,497,804 (1) 16.1% $241,320,994 (1) 1 TO 5 YEARS 0 9,201,104 0 5,114,141 213,369,639 85,530,635 0 0 0 0 $313,215,518 56.5% TOTAL 33,000 15,109,923 0 92,811,544 294,511,689 113,618,401 36,208,622 45,775 914,116 1,283,442 $554,536,512 100.0% % TOTAL 0.0% 2.7% 0.0% 16.7% 53.1% 20.5% (2) 6.5% 0.0% 0.2% 0.2% 100.0% 43.5% POLICY: (1) Not less than $126,950,000 to mature within one year. (2/3rds of current year operating budget of $190,416,000.00) (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes. x -C.I—I DO YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1 996 - AUGUST 2009 Xrei—i CD I—I —I CO MARKET YIELD CURVE 6/30/08, 6/30/09, 8/31/09 Market Rates 3Mth 3Mth 2Yr 5Yr 10 Yr —06/30/2008 -*- 06/30/2009 -^--08/31/2009 1.73 .18 .13 2.62 1.11 .97 3.33 2.55 2.39 3.97 3.53 3.40 X:Ef—i DO Cumulative Cash Income FY09-10 Cumulative Millions $ 20 18 16 14 12 10 8 6 4 2 ' n (July 09 ) Monthly Interest Income Millions $ o _ > ^ +^ s *^ sr ^^ *r ^ *~ 1 '^r"i .99 "^ *r~ ^^^ 1.9 * ^r V u - 7 6 5 3 1 - n Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun czzi Interest Income --•--Budget Actual mx CO City of Carlsbad TRANSACTIONS FOR PERIOD: 07/01/09 TO 08/31/09 1ST QUARTER 2009-2010 Trans Date BUYS JULY 07/21/2009 07/21/2009 07/21/2009 07/21/2009 07/21/2009 07/13/2009 AUGUST 07/21/2009 07/27/2009 07/21/2009 08/12/2009 08/12/2009 08/10/2009 08/12/2009 08/12/2009 08/20/2009 08/12/2009 08/03/2009 08/25/2009 Investment Date 07/22/2009 07/22/2009 07/22/2009 07/22/2009 07/22/2009 07/29/2009 08/10/2009 08/12/2009 08/13/2009 08/13/2009 08/14/2009 08/17/2009 08/14/2009 08/19/2009 08/21/2009 08/27/2009 08/27/2009 08/26/2009 Maturity Date 01/31/2010 02/28/2010 04/30/2010 09/30/2010 05/25/2012 07/29/201 1 08/10/2012 07/27/2012 08/13/2012 06/14/2013 11/16/2011 05/17/2012 12/22/2011 08/19/2013 07/23/2013 08/27/2014 02/27/2013 04/08/2013 Type TR TR TR TR TR FA FA FA FA FA CN FA CN FA FA FA FA FA Security US TREASURY US TREASURY US TREASURY US TREASURY US TREASURY FHLB FHLB FHLB FHLMC FHLB SUNTRUST BANK FHLMC TOYOTA FFCB FHLMC FHLB FHLB FHLMC Call Date N/A N/A N/A N/A N/A 10/29/2009 02/10/2010 07/27/2010 11/13/2009 N/A N/A 05/17/2010 N/A N/A 07/23/2010 11/27/2009 11/27/2009 04/08/201 1 Par Value 2,000,000.00 1 ,000,000.00 5,000,000.00 3,000,000.00 1 ,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,250,000.00 1,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 Coupon 2.125% 2.000% 2.125% 2.000% 1 .900% .5% STEP 2.000% 2.000% 2.250% 4.250% 3.000% 2.000% 5.250% 2.700% 2.400% 3% STEP 2% STEP 2.500% Amount (Cost) 2,019,531.25 1,010,312.50 5,069,531.25 3,052,031 .25 999,250.00 5,000,000.00 1 ,999,500.00 1 ,988,600.00 1,000,000.00 2,130,988.03 2,066,260.00 1 ,997,500.00 2,427,570.00 1,005,669.88 1,991,200.00 3,000,000.00 1,999,500.00 2,008,000.00 Return Rate 0.26% 0.30% 0.33% 0.54% 1 .93% 1.71% 2.01% 2.20% 2.25% 2.45% 1 .50% 2.05% 1 .80% 2.55% 2.52% 3.95% 2.95% 2.38% Interest 2,775.38 1,861.41 12,754.76 19,444.16 54,741 .66 171,875.00 120,500.00 129,733.33 67,500.00 195,081.41 69,073.33 112,500.00 99,695.62 102,330.12 197,066.67 600,000.00 208,000.00 172,833.33 Investment Return 2,022,306.63 1,012,173.91 5,082,286.01 3,071,475.41 1,053,991.66 5,171,875.00 2,120,000.00 2,118,333.33 1 ,067,500.00 2,326,069.44 2,135,333.33 2,110,000.00 2,527,265.62 1,108,000.00 2,188,266.67 3,600,000.00 2,207,500.00 2,180,833.33 SEPTEMBER 08/10/2009 09/04/2009 09/07/2012 FA FNMA 09/07/2010 2,000,000.00 2.500%2,000,000.00 2.50%150,416.67 2,150,416.67 TOTAL FIRST QUARTER 2009-2010 42,250,000.00 42,765,444.16 1.803% 2,488,182.85 45,253,627.01 MATURITIES JULY o<3 02/13/2009 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 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 FA FA FA FA FA FA FA FA FA FA FHLMC FHLB FFCB FFCB FHLB FHLB FHLB FHLMC FHLMC FHLMC N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 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 3.250% 5.375% 5.150% 5.150% 3.100% 4.180% 3.100% 4.375% 4.375% 4.375% 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 2.50% 2.45% 5.05% 4.80% 2.35% 2.98% 3.10% 3.50% 2.32% 2.40% 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 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 City of Carlsbad TRANSACTIONS FOR PERIOD: 07/01/09 TO 08/31/09 AUGUST 08/26/2008 08/26/2011 SEPTEMBER 09/10/2007 09/10/2012 TOTAL FIRST QUARTER 2009-2010 FA FA 1ST QUARTER 2009-2010 Trans Date AUGUST Investment Date 05/15/2007 11/01/2006 01/22/2008 08/17/2007 04/24/2007 05/23/2007 TOTAL FIRST QUARTER Maturity Date 08/01/2009 08/05/2009 08/05/2009 08/17/2009 08/03/2009 08/10/2009 2009-2010 Type FA FA FA FA CN CN Se HUD FHLB FHLB FFCB BANKC WAL-M/ CALLS and /or SALES JULY 01/20/2009 08/07/2008 01/20/2011 07/07/201 1 FA FA FHLMC FNMA FNMA FNMA Call Date N/A N/A N/A N/A N/A N/A 07/20/2009 07/07/2009 08/26/2009 09/10/2009 Par Value 1 ,000,000.00 5,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 5,000,000.00 33,770,000.00 3,000,000.00 2,000,000.00 1 ,000,000.00 1 ,000,000.00 7,000,000.00 Coupon 4.430% 5.250% 2.891% 5.000% 4.625% 6.875% 2.000% 4.000% 4.000% 5.200% Amount (Cost) 990,198.00 5,048,115.85 2,070,366.00 3,000,000.00 1,983,918.00 5,187,303.82 34,312,625.50 3,000,000.00 1 ,996,500.00 999,500.00 1 ,000,000.00 6,996,000.00 Return Rate 4.90% 4.87% 2.89% 5.00% 5.00% 5.06% 3.938% 2.00% 4.06% 4.02% 5.20% 3.334% Interest 107,754.22 676,675.82 90,925.67 300,000.00 226,519.50 573,720.49 2,701 ,881 .94 120,000.00 236,833.33 120,500.00 260,000.00 737,333.33 Investment Return 1,097,952.22 5,724,791 .67 2,161,291.67 3,300,000.00 2,210,437.50 5,761,024.31 37,014,507.44 3,120,000.00 2,233,333.33 1,120,000.00 1 ,260,000.00 7,733,333.33 INVESTMENT REPORT AS OF AUGUST 31, 2009 INVESTMENT DATE 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 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 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 FHLB 4.378% NON-CALL FHLB 4.375% NON-CALL FHLB 5.25% NON-CALL FHLMC3.5$ NON-CALL FHLB 5.0% NON-CALL FFCB5.00% NON-CALL FNMA4.0% NON-CALL FFCB 4.350% NON-CALL FFCB4.125% 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 FHLMC 3.125% 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 FHLMC 4.02% 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 FHLMC 3.50% 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 PAR VALUE 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 1,000,000.00 2,000,000.00 3,000,000.00 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 2,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 1 ,000,000.00 1 ,000,000.00 1,000,000.00 1,000,000.00 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 INVESTED AMOUNT 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 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 RETURN RATE 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% 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% INTEREST 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 58,456.94 122,248.67 130,635.42 121,537.78 110,133.89 104,730.55 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 INVESTMENT RETURN 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 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 TERM (Days) 912 598 588 687 928 597 645 610 655 652 664 666 689 728 746 743 501 770 767 758 709 498 715 821 1,013 749 739 889 457 836 764 420 680 987 1,077 730 866 889 898 x IEi—ico INVESTMENT REPORT AS OF AUGUST 31, 2009 INVESTMENT DATE TYPE SECURITY 10/30/2007 FA FHLB4.7% NON-CALL 02/12/2008 FA FHLB3.190% CALL 8/12/08 09/18/2007 FA FHLMC5.125% NON-CALL 09/26/2007 FA FHLB5.125% NON-CALL 05/08/2008 FA FHLB3.00% NON-CALL 12/05/2008 FA FHLB 3.375% NON-CALL 03/11/2009 FA FHLB 1.4% NON-CALL 09/26/2007 FA FFCB5.25% NON-CALL 06/01/2009 FA FHLB 1.25% NON-CALL 05/05/2008 FA FHLB 4.375% NON-CALL 04/22/2009 FA FHLB 1.125% NON-CALL 06/03/2009 FA FHLB 4.375% NON-CALL 06/01/2009 FA FHLB 1.050% NON-CALL 06/03/2009 FA FHLB 1.050% NON-CALL 12/23/2008 FA FHLB 1.70% CALL 12/30/09 12/05/2008 FA FHLMC 4.50% NON-CALL 06/03/2009 FA FNMA 2.050% CALL 4/1/10 05/11/2009 FA FHLB 1.375% NON-CALL 02/20/2008 FA FHLB 2.875% NON-CALL 05/12/2009 FA FNMA 1.45% CALL 11/20/2007 FA FHLB 4.5% CALL 11/20/09 01/28/2008 FA FHLB 4.5% CALL 11/20/09 06/22/2009 FA FHLB 1.125% NON-CALL 08/31/2007 FA FHLB 5.275% NON-CALL 05/08/2008 FA FHLB 5.25% NON-CALL 09/17/2008 FA FHLB 5.25% NON-CALL 03/09/2007 FA FNMA 3.64% NON-CALL 08/01/2007 FA FAMCA5.50% NON-CALL 08/31/2007 FA FAMCA5.50% NON-CALL 05/08/2008 FA FAMCA5.5% NON-CALL 03/31/2009 FA FFCB 3.625% NON-CALL 05/11/2009 FA FAMCA 5.50% NON-CALL 04/27/2009 FA FHLMC 1.75% CALL 4/27/10 06/29/2009 FA FHLB 1.625% NON-CALL 07/29/2009 FA FHLB .500% QRTLY CALL 03/19/2007 FA FHLB 5.75% NON-CALL 01/23/2009 FA FHLB 5.75% NON-CALL 06/22/2009 FA FFCB 3.875% NON-CALL 03/05/2007 FA FHLB 5.00% NON-CALL "- 03/15/2007 FA FHLB 5.00% NON-CALL 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 2,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 3,000,000.00 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 ,000,000.00 3,000,000.00 1 ,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 3,000,000.00 629,000.00 2,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 5,000,000.00 3,000,000.00 1 ,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 INVESTED AMOUNT 1 ,009,328.80 3,000,000.00 3,048,120.00 2,034,188.23 1 ,994,876.00 2,032,660.00 2,000,000.00 2,041,700.00 2,014,960.00 1,032,893.26 3,000,000.00 2,101,180.00 2,008,660.00 2,007,180.00 1 ,000,000.00 3,119,880.00 2,024,200.00 1 ,001 ,350.00 2,993,378.76 1 ,000,000.00 2,016,000.00 3,078,630.00 1 ,988,700.00 1,020,930.00 1,055,434.00 2,132,207.14 1,909,480.00 3,034,380.00 644,775.32 2,116,712.00 1 ,044,420.00 1 ,072,970.00 3,000,000.00 2,012,680.00 5,000,000.00 3,111,810.00 1,097,950.00 3,152,520.00 2,018,200.00 3,032,352.00 RETURN RATE 4.337% 3.190% 4.530% 4.500% 3.115% 2.420% 1.400% 4.490% 0.700% 2.980% 1.125% 0.701% 0.750% 0.800% 1 .700% 2.470% 1 .377% 1 .305% 2.950% 1 .450% 4.252% 3.651% 1.420% 4.761% 3.345% 2.720% 4.805% 5.175% 4.781% 3.545% 1.639% 2.050% 1.750% 1.315% 1.710% 4.800% 1.818% 1 .490% 4.773% 4.730% INVESTMENT INTEREST 121,226.76 239,250.00 402,452.92 268,756.21 145,457.34 86,402.50 41 ,922.22 269,508.33 19,276.11 74,901 .88 50,625.00 20,104.72 21 ,906.67 23,270.00 34,000.00 154,245.00 50,738.89 25,653.47 270,402.49 (891 ,000.00) 299,000.00 368,370.00 55,112.50 181,976.25 106,732.67 154,501.19 406,997.78 618,286.67 - 118,184.21 233,760.22 85,530.00 46,807.78 118,125.00 54,847.78 171,875.00 648,148.33 49,313.89 100,323.75 432,911.11 640,148.00 RETURN 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 2,034,236.11 1,107,795.14 3,050,625.00 2,121,284.72 2,030,566.67 2,030,450.00 1,034,000.00 3,274,125.00 2,074,938.89 1 ,027,003.47 3,263,781 .25 109,000.00 2,315,000.00 3,447,000.00 2,043,812.50 1,202,906.25 1,162,166.67 2,286,708.33 2,316,477.78 3,652,666.67 762,959.53 2,350,472.22 1,129,950.00 1,119,777.78 3,118,125.00 2,067,527.78 5,171,875.00 3,759,958.33 1,147,263.89 3,252,843.75 2,451,111.11 3,672,500.00 TERM (Days) 1,015 912 1,070 1,080 855 644 548 1,083 500 900 548 506 532 530 737 741 667 717 1,115 730 1,277 1,208 711 1,379 1,128 996 1,588 1,444 1,414 1,163 836 795 821 758 730 1,610 934 794 1,649 1,639 INVESTMENT REPORT AS OF AUGUST 31,2009 INVESTMENT DATE 01/23/2009 10/30/2007 03/15/2007 10/05/2007 10/19/2007 03/05/2008 03/19/2007 06/29/2009 03/26/2007 03/26/2007 04/20/2007 05/21/2007 08/17/2009 07/25/2007 07/22/2009 07/25/2007 07/25/2007 07/15/2008 06/22/2009 12/10/2007 08/05/2008 08/12/2009 07/30/2007 07/21/2009 08/13/2008 08/13/2009 01/29/2009 02/27/2009 09/10/2007 03/12/2009 05/05/2008 08/22/2008 05/11/2009 10/29/2007 12/10/2007 10/22/2007 11/28/2007 12/06/2007 06/03/2008 05/19/2009 TYPE SECURITY FA FHLB5.00% NON-CALL FA FHLMC5.50% NON-CALL FA FHLB 4.875% NON-CALL FA FHLB 4.9% CALL 10/05/09 FA FHLB 5.00% CALL 10/19/09 FA FHLB 5.30% CALL 10/27/09 FA FHLB 4.875% NON-CALL FA FFCB 2.0% NON-CALL FA FHLMC5.0% CALL 3/26/10 FA FHLMC 5.0% CALL 3/26/10 FA FHLMC 5.0% CALL 3/26/10 FA FFCB 4.875% NON-CALL FA FHLMC 2.0% CALL 5/17/10 FA TVA 6.790% NON-CALL FA FHLB 1.90% QRTLY CALL FA FHLB 5.375% NON-CALL FA FHLB 5.375% NON-CALL FA FHLB 4.375% NON-CALL FA FHLB 1.50% CALL Quarterly FA FHLB 5.58% CALL 7/20/10 FA FFCB 3.950% NON-CALL FA FHLB 2.0% CALL 7/27/10 FA FHLB 5.52% CALL 7/30/10 FA FHLB 2.0% CALL 2/10/10 FA FHLB 4.35% CALL 8/13/10 FA FHLMC 2.25% CALL111/13/09 FA FHLB 4.625% NON-CALL FA FNMA 2.625% CALL 8/27/10 FA FNMA 5.20% CALL 9/13/09 FA FHLMC 2.0% CALL 3/12/10 FA FHLB 5.00% NON-CALL FA FHLB 4.5% NON-CALL FA FHLMC 3.875% NON-CALL FA FHLMC 5.05% CALL 10/15/09 FA FFCB 4.5% NON-CALL FA FHLB 5.00% CALL 4/22/10 FA FNMA 5.00% CALL 10/30/09 FA FNMA 5.00% CALL 10/30/09 FA FNMA 6.41% NON-CALL FA FNMA 2.2% CALL 5/19/10 PAR VALUE 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 4,000,000.00 2,000,000.00 3,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 1 ,000,000.00 1 ,000,000.00 3,000,000.00 3,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 1 ,770,000.00 2,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 1,175,000.00 1,000,000.00 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 2,000,000.00 INVESTED AMOUNT 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 4,036,800.00 2,000,000.00 3,000,000.00 999,687.50 1,987,880.00 1 ,997,500.00 2,130,980.00 999,250.00 1 ,005,040.00 1 ,005,254.43 3,050,958.11 3,000,000.00 1,037,000.00 2,002,900.00 1,988,600.00 1 ,770,000.00 1 ,999,500.00 1 ,999,500.00 1,000,000.00 2,150,960.00 2,000,000.00 1,000,000.00 2,000,000.00 1,238,814.19 1 ,022,730.00 1,063,510.00 1,006,875.00 2,034,780.00 2,000,000.00 3,033,000.00 2,030,000.00 1 ,990,388.82 2,000,000.00 RETURN RATE 1.958% 4.390% 4.720% 4.900% 5.000% 4.033% 4.795% 1.630% 5.000% 5.000% 5.006% 5.015% 2.047% 5.235% 1 .927% 5.255% 5.250% 3.900% 2.239% 4.677% 3.910% 2.200% 5.520% 2.090% 4.357% 2.250% 2.391% 2.625% 5.200% 2.710% 3.640% 3.889% 1 .928% 4.892% 4.100% 5.000% 4.746% 4.653% 3.890% 2.200% INTEREST 53,868.89 522,075.00 647,473.00 392,000.00 600,000.00 301,311.11 672,403.75 167,200.00 500,000.00 750,000.00 246,979.17 489,057.50 (1,786,500.00) 524,632.22 54,741.66 256,692.64 256,478.21 460,552.31 202,500.00 220,300.00 310,466.67 129,733.33 488,520.00 120,500.00 348,500.00 67,500.00 176,901.11 183,750.00 260,000.00 190,000.00 192,237.89 160,020.00 67,701 .81 243,661.11 401,970.00 500,000.00 705,333.33 460,000.00 331 ,405.40 154,000.00 INVESTMENT RETURN 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 4,204,000.00 2,500,000.00 3,750,000.00 1,246,666.67 2,476,937.50 211,000.00 2,655,612.22 1,053,991.66 1,261,732.64 1,261,732.64 3,511,510.42 3,202,500.00 1,257,300.00 2,313,366.67 2,118,333.33 2,258,520.00 2,120,000.00 2,348,000.00 1 ,067,500.00 2,327,861.11 2,183,750.00 1,260,000.00 2,190,000.00 1,431,052.08 1,182,750.00 1,131,211.81 1,250,536.11 2,436,750.00 2,500,000.00 3,738,333.33 2,490,000.00 2,321 ,794.22 2,154,000.00 TERM (Days) 959 1,416 1,665 1,461 1,461 1,331 1,705 932 1,827 1,827 1,802 1,788 1,004 1,764 1,038 1,780 1,780 1,424 1,096 1,684 1,448 1,080 1,827 1,116 1,461 1,096 1,294 1,277 1,827 1,280 1,593 1,484 1,238 1,813 1,773 1,827 1,798 1,790 1,624 1,280 INVESTMENT REPORT AS OF AUGUST 31,2009 INVESTMENT DATE 12/21/2007 12/21/2007 01/23/2008 01/14/2008 05/19/2009 08/27/2009 03/10/2008 08/26/2009 05/12/2009 05/14/2008 11/10/2008 08/13/2009 12/03/2008 08/27/2008 08/21/2009 08/19/2009 11/12/2008 12/17/2008 11/12/2008 11/19/2008 11/26/2008 01/20/2009 02/12/2009 03/26/2009 05/14/2009 08/27/2009 10/23/2008 06/01/2009 06/01/2009 03/12/2009 02/11/2009 02/18/2009 02/25/2009 03/02/2009 03/02/2009 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 FN FN FN FN FN FN FN FN FN SECURITY 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 FNMA 2.32% CALL 2/19/10 FHLB 2.0% CALL 11/27/09 STEP FHLB 3.50% NON-CALL FHLMC 2.5% CALL 4/8/11 FFCB 2.875% CALL 8/6/09 FHLB 4.00% CALL 5/15/10 FHLB 5.375% NON-CALL FHLB 4.25% NON-CALL FFCB 4.625% CALL 7/8/10 FNMA 4.375% NON-CALL FHLMC 2.4% CALL 7/23/10 FFCB 2.7% NON-CALL FHLB 4.0% 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 FNMA 2.0% CALL 8/14/09 FHLB 3.0% CALL 11/27/09 STEP FHLBN 0% NON-CALL FHLBN 0% NON-CALL 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 PAR VALUE 5,000,000.00 4,000,000.00 2,000,000.00 3,000,000.00 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 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 SUB-TOTAL 290,011,000.00 3,000,000.00 2,000,000.00 1,000,000.00 1 ,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 SUB-TOTAL 16,000,000.00 INVESTED AMOUNT 5,000,000.00 4,000,000.00 2,056,800.00 3,000,000.00 1 ,000,000.00 1 ,999,500.00 2,963,940.00 2,008,000.00 3,000,000.00 2,000,000.00 1,065,788.37 2,130,988.03 2,053,420.00 2,035,600.00 1,991,200.00 1 ,005,669.88 1 ,007,890.00 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 2,000,000.00 3,000,000.00 294,511,688.53 2,914,250.00 1,997,240.00 997,329.44 956,370.00 1,889,240.00 916,713.56 1 ,826,280.00 1,818,680.00 1 ,793,820.00 15,109,923.00 RETURN RATE 4.675% 4.675% 4.061% 4.250% 2.320% 2.945% 3.765% 2.384% 2.874% 4.000% 3.800% 2.450% 3.983% 3.970% 2.518% 2.550% 3.818% 2.625% 4.192% 5.500% 4.361% 2.600% 3.500% 4.208% 2.000% 3.951% 3.331% 3.109% 0.274% 0.386% 2.200% 2.300% 2.710% 2.850% 3.000% 3.050% 2.320% INTEREST 1,168,750.00 935,000.00 409,022.22 637,500.00 87,000.00 208,000.00 560,476.67 172,833.33 343,562.50 320,000.00 181,163.02 195,081.41 371 ,823.06 392,177.78 197,066.67 102,330.12 184,776.67 259,712.78 405,250.00 243,840.00 440,000.00 258,135.31 355,000.00 615,000.00 320,000.00 600,000.00 32,166,261.61 171,500.00 2,760.00 2,670.56 43,630.00 110,760.00 83,286.44 173,720.00 181,320.00 206,180.00 975,827.00 INVESTMENT RETURN 6,168,750.00 4,935,000.00 2,465,822.22 3,637,500.00 1,087,000.00 2,207,500.00 3,524,416.67 2,180,833.33 3,343,562.50 2,320,000.00 1,246,951.39 2,326,069.44 2,425,243.06 2,427,777.78 2,188,266.67 1,108,000.00 1,192,666.67 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 2,320,000.00 3,600,000.00 326,677,950.14 3,085,750.00 2,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 16,085,750.00 TERM (Days) 1,827 1,827 1,811 1,827 1,372 1,280 1,824 1,321 1,455 1,826 1,677 1,401 1,678 1,785 1,432 1,461 1,759 1,731 1,771 1,771 1,826 1,788 1,826 1,826 1,826 1,826 1,175 343 184 253 744 908 1,178 1,171 1,166 1,314 807 INVESTMENT REPORT AS OF AUGUST 31,2009 INVESTMENT DATE 06/05/2009 06/18/2009 06/18/2009 06/18/2009 06/18/2009 06/05/2009 05/11/2009 06/05/2009 06/18/2009 06/01/2009 06/18/2009 05/11/2009 06/18/2009 06/18/2009 06/05/2009 07/22/2009 06/05/2009 05/11/2009 07/22/2009 06/05/2009 04/30/2009 06/05/2009 07/22/2009 06/05/2009 04/21/2009 06/05/2009 06/05/2009 07/22/2009 11/10/2008 11/12/2008 TYPE TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR SECURITY Federal Investments Total US TREASURY 00% US TREASURY00% US TREASURY00% US TREASURY 00% US TREASURY 00% US TREASURY 00% US TREASURY00% US TREASURY00% US TREASURY00% US TREASURY 00% US TREASURY 00% US TREASURY 00% US TREASURY00% US TREASURY 00% US TREASURY 2.125% US TREASURY 2.125% US TREASURY 6.50% US TREASURY 2.0% US TREASURY 2.0% US TREASURY 1.750% US TREASURY 00% US TREASURY 4.0% US TREASURY 2.125% US TREASURY 4.50% US TREASURY 2.625% US TREASURY 2.8750% US TREASURY 2.750% US TREASURY 2.00% US TREASURY 3.125% US TREASURY 3.125% SUB-TOTAL 03/02/2009 CD WELLS FARGO BANK 9218910637 SUB-TOTAL 11/03/2006 CN MERRILL LYNCH 4.125% NON-CALL 11/01/2007 CN GENERAL ELECTRIC 5.250% NON-CALL 01/30/2008 CN BERKSHIRHATWY4.125% NON-CALL PAR VALUE 306,011,000.00 3,000,000.00 4,000,000.00 5,000,000.00 5,000,000.00 4,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 5,000,000.00 2,000,000.00 4,000,000.00 2,000,000.00 4,000,000.00 5,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 1 ,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 5,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 1,000,000.00 1,000,000.00 92,000,000.00 33,000.00 33,000.00 5,000,000.00 2,000,000.00 2,000,000.00 INVESTED AMOUNT 309,621,611.53 2,998,873.33 3,998,584.44 4,998,040.97 4,997,190.28 3,997,480.00 2,997,810.00 1,996,693.33 2,996,799.17 4,994,866.67 1,997,315.00 3,995,860.00 1 ,995,905.56 3,994,540.00 4,992,669.44 3,035,156.25 2,019,531.25 3,128,320.31 2,025,000.00 1,010,312.50 3,033,867.19 1,991,806.11 3,093,164.06 5,069,531.25 3,114,140.63 3,069,492.19 3,076,875.00 3,077,578.13 3,052,031 .25 1,031,328.00 1,030,781.25 92,811,543.56 33,000.00 33,000.00 4,884,751.43 2,030,120.00 2,040,548.16 RETURN RATE 0.132% 0.142% 0.157% 0.172% 0.183% 0.183% 0.315% 0.233% 0.244% 0.274% 0.233% 0.340% 0.274% 0.294% 0.331% 0.262% 0.342% 0.411% 0.303% 0.369% 0.437% 0.382% 0.325% 0.452% 0.529% 0.469% 0.501% 0.537% 2.430% 2.452% 0.349% 0.900% 0.900% 5.000% 4.450% 3.050% INTEREST 33,142,088.61 1,126.67 1,415.56 1,959.03 2,809.72 2,520.00 2,190.00 3,306.67 3,200.83 5,133.33 2,685.00 4,140.00 4,094.44 5,460.00 7,330.56 28,593.75 2,775.38 7,425.55 7,173.91 1,861.41 9,165.60 8,193.89 10,114.63 12,754.76 13,155.57 17,911.66 15,331.49 17,684.30 19,444.16 118,792.86 121,777.13 459,527.86 620.00 620.00 703,633.99 178,713.33 121,014.34 INVESTMENT RETURN 342,763,700.14 3,000,000.00 4,000,000.00 5,000,000.00 5,000,000.00 4,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 5,000,000.00 2,000,000.00 4,000,000.00 2,000,000.00 4,000,000.00 5,000,000.00 3,063,750.00 2,022,306.63 3,135,745.86 2,032,173.91 1,012,173.91 3,043,032.79 2,000,000.00 3,103,278.69 5,082,286.01 3,127,296.20 3,087,403.85 3,092,206.49 3,095,262.43 3,071,475.41 1,150,120.86 1,152,558.38 93,271 ,071 .42 33,620.00 33,620.00 5,588,385.42 2,208,833.33 2,161,562.50 TERM (Days) 1,982 104 91 91 119 126 146 192 167 154 179 162 220 182 182 240 193 255 293 221 299 343 314 282 344 405 390 421 435 1,755 1,783 336 365 365 1,042 726 716 INVESTMENT REPORT AS OF AUGUST 31, 2009 INVESTMENT DATE 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 05/12/2009 05/29/2007 08/14/2009 04/28/2009 08/17/2009 03/20/2007 10/11/2007 11/15/2007 05/12/2009 05/05/2009 04/21/2009 04/23/2009 04/30/2008 08/31/2007 05/30/2008 07/17/2008 08/31/2007 10/31/2007 TYPE SECURITY CN BERKSHIRHATWY4.125% NON-CALL CN WELLS FARGO CO 4.2% NON-CALL CN TOYOTA 3.834% NON-CALL CN GOLDMAN SACHS 4.50% NON-CALL CN WAL-MART 4.125% NON-CALL CN WAL-MART 4.125% NON-CALL CN US BANCORP 4.50% NON-CALL CN WELLS FARGO 4.625% NON-CALL CN WAL-MART 4.75% NON-CALL CN WAL-MART 4.75% NON-CALL CN NEW YORK LIFE 4.625% NON-CALL CN CITIGROUP 5.125% NON-CALL CN CITIGROUP 5.125% NON-CALL CN CITIGROUP 5.125% NON-CALL CN HOME DEPOT 5.20% NON-CALL CN GENERAL ELECTRIC 5.50% NON-CALL CN GENERAL ELECTRIC 5.50% NON-CALL CN TOYOTA FIN 5.375% NON-CALL CN TOYOTA 5.450% NON-CALL CN ROYAL BANK OF CANADA 5.65% NON-CALL CN WELLS FARGO CO 5.30% NON-CALL CN GENWORTH GLOBAL 5.375% NON-CALL CN MET LIFE GLOBAL FUNDING 5.125% NON-CALI CN GENERAL ELECTRIC 5.50% CALL 11/15/08 CN SUNTRUST BANK 3.0% NON-CALL CN CITIGROUP 2.875% NON-CALL CN TOYOTA 5.25% NON-CALL CN GENERAL ELECTRIC 5.875% NON-CALL CN GENERAL ELETRIC 5.875% NON-CALL CN GENERAL ELETRIC 5.875% NON-CALL CN CHEVRON 3.450% NON-CALL CN BARCLAYS BANK 2.7% NON-CALL CN BERKSHIRHATWY4.00% NON-CALL CN BERKSHIRHATWY4.00% NON-CALL CN PRINCIPAL LIFE INC 4.5% NON-CALL CN GENERAL ELECTRIC 6.00% NON-CALL CN GENERAL ELECTRIC 6.00% NON-CALL CN PROTECTIVE LIFE 5.050% NON-CALL CN JOHNSON & JOHNSON 5.15% NON-CALL CN GENERAL ELECTRIC 5.250% NON-CALL PAR VALUE 2,000,000.00 1 ,000,000.00 1 ,000,080.00 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 2,000,000.00 4,000,000.00 1 ,000,000.00 1 ,000,000.00 2,000,000.00 1 ,000,000.00 1 ,850,000.00 2,000,000.00 2,000,000.00 2,250,000.00 5,956,000.00 3,000,000.00 2,000,000.00 3,000,000.00 1,575,000.00 1,000,000.00 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 INVESTED AMOUNT 2,038,582.81 1,018,383.81 997,777.82 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 ,020,480.00 1 ,850,000.00 2,066,260.00 2,060,840.00 2,427,570.00 6,187,688.40 3,089,347.40 2,089,414.35 3,103,177.11 1 ,590,861 .34 1 ,022,563.95 2,039,340.00 1 ,000,000.00 1 ,033,437.31 1 ,052,958.51 3,000,000.00 1,017,457.28 2,036,663.70 RETURN RATE 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% 4.250% 5.500% 1 .500% 1 .680% 1 .800% 4.970% 5.100% 4.700% 2.180% 2.330% 3.200% 3.300% 4.500% 5.200% 4.550% 5.050% 4.750% 4.830% INTEREST 122,750.52 55,816.19 34,892.59 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 63,690.00 138,741.32 344,093.46 107,217.92 453,918.06 69,073.33 89,458.61 99,695.62 1,483,867.09 676,360.93 409,960.65 187,485.39 104,626.16 96,769.38 198,882.22 178,375.00 253,896.02 189,541.49 605,158.33 237,753.83 484,836.30 INVESTMENT RETURN 2,161,333.33 1 ,074,200.00 1 ,032,670.41 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 1,127,697.92 2,303,918.06 2,135,333.33 2,150,298.61 2,527,265.62 7,671 ,555.49 3,765,708.33 2,499,375.00 3,290,662.50 1 ,695,487.50 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 TERM (Days) 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 1,203 911 1,631 824 955 857 1,793 1,588 1,553 1,026 1,035 1,090 1,088 1,447 1,750 1,477 1,459 1,811 1,815 INVESTMENT REPORT AS OF AUGUST 31,2009 INVESTMENT DATE 11/23/2007 01/30/2008 04/24/2008 05/07/2008 05/12/2009 05/30/2008 05/09/2008 12/23/2008 05/12/2009 06/26/2009 05/29/2009 TYPE CN CN CN CN CN CN CN CN CN CN CN O O O O O 0 O O SECURITY GENERAL ELECTRIC 5.250% NON-CALL WELLS FARGO 5.250% NON-CALL MET LIFE GLOBAL FUNDING 5 MET LIFE GLOBAL FUNDING 5 WAL-MART 4.250% NON-CALL ALLSTATE LIFE 5.375% NON-CALL NEW YORK LIFE 4.650% NON-CALL BERKSHIRHATWY4.60% NON-CALL 3 M 4.375% NON-CALL PROTER & GAMBLE 4.60% NON-CALL WAL-MART 3.20% NON-CALL WELLS FARGO BANK CORPORATE CASH MANAGEI 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 I-CALL l% NON-CALI i% NON-CALI L _L ,LL ALL SUB-TOTAL T ACCOUNT RPORATION JRATION SUB-TOTAL PAR VALUE 2,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 5,000,000.00 1 ,000,000.00 111,631,080.00 1,282,679.00 914,116.46 763.42 45,775.00 6,852,000.00 11,470,621.67 9,626,000.00 8,260,000.00 38,451,955.55 INVESTED AMOUNT 2,065,283.50 1,042,814.41 1,003,232.48 2,019,402.04 1 ,047,829.91 2,023,559.81 1 ,006,649.66 1,023,835.68 2,121,417.76 5,246,650.00 1,003,190.00 113,618,401.02 1,282,679.00 914,116.46 763.42 45,775.00 6,852,000.00 1 1 ,470,621 .67 9,626,000.00 8,260,000.00 38,451,955.55 RETURN RATE 4.500% 4.240% 5.050% 4.900% 2.950% 5.100% 4.500% 4.000% 2.850% 3.420% 3.130% 4.234% 0.100% 0.100% 0.000% 0.150% 0.990% 0.990% 0.990% 0.990% 0.938% INTEREST 449,799.83 205,539.76 251,024.46 485,410.46 118,982.59 504,981.86 225,850.34 177,542.10 251,186.41 800,488.89 155,565.56 18,819,810.63 3.51 2.50 - 0.19 188.43 315.44 264.72 227.15 1 ,001 .95 INVESTMENT RETURN 2,515,083.33 1,248,354.17 1,254,256.94 2,504,812.50 1,166,812.50 2,528,541.67 1 ,232,500.00 1,201,377.78 2,372,604.17 6,047,138.89 1,158,755.56 132,438,211.65 1,282,682.51 914,118.96 763.42 45,775.19 6,852,188.43 11,470,937.11 9,626,264.72 8,260,227.15 38,452,957.50 TERM (Davs) 1,792 1,728 1,812 1,799 1,434 1,796 1,826 1,604 1,556 1,664 1,812 1,326 1 1 1 1 1 1 1 1 GRAND TOTAL 548,127,035.55 554,536,511.66 2.823% 19,532,810.08 606,959,560.71 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF AUGUST 31, 2009 Cash Balance by Fund: General 61,456,265 Special Revenue 46,613,491 Debt Service 5,489,363 Capital Projects: General Capital Construction 64,877,679 Traffic Impact Fees 17,485,609 Public Facilities Fees 42,949,305 Park Development 2,331,554 Transnet Taxes 6,342,622 Drainage Fees 8,315,886 Special Districts 83,474,204 Infrastructure Replacement 53,385,650 Other Capital Construction 1,011,483 Total 280,173,991 Enterprise: Carlsbad Municipal Water District 62,857,867 Sewer Fund 50,543,121 Solid Waste 7,005,518 Storm Water 1,768,985 Golf Course 253,817 Total 122,429,307 Internal Service 26,457,331 Agency Funds 13,013,281 Redevelopment Funds (1) 0 Misc. Special Funds 0 Total General Ledger Balance ** 555,633,029 Reconciling Adjustments (2) (3,509,378) Total Treasurer's Investment Portfolio at Amortized Cost 552,123,651 (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 09/0409 n EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of August 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 AAA AA2 AA1 AA2 AAA AA2 AAA AA3 AAA AA2 AA1 AA3 AA2 AAA AAA AA AA+ AAA AA- AAA AA- AA- AA- AA AA AA BARCLAYS BANK BERKSHIRE HATHAWAY CHEVRON GENERAL ELECTRIC JOHNSONS JOHNSON MET LIFE GLOBAL NEW YORK LIFE PROCTER & GAMBLE ROYAL BANK OF CANADA 3M TOYOTA US BANCORP WAL-MART 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 CITIGROUP GENWORTH GLOBAL GOLDMAN SACHS HOME DEPOT MERRILL LYNCH PRINCIPAL LIFE PROTECTIVE LIFE WELLS FARGO * 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. loodv's A1 A3 A2 A1 BAA1 A2 AA3 A2 A1 S&P AA- A A A BBB+ A A+ AA- AA Purchased 05/30/2008 06/20/2006 05/07/2008 03/19/2008 06/12/2006 11/03/2006 04/30/2008 07/17/2008 01/30/2008 Carrying Value 2,017,557 1 1 ,040,895 2,010,104 1 ,009,037 2,992,168 4,998,990 1 ,000,000 3,000,000 5,076,199 Market Value 2,113,460 11,165,970 1 ,924,420 1,026,310 3,127,830 5,001,100 1 ,024,850 2,917,770 5,198,950 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF AUGUST 31, 2009 WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS EXHIBIT 10 PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER ALL STATE LIFE BARCLAYS BANK BERKSHIRE HATHAWAY CHEVRON CITIGROUP GENERAL ELECTRIC CAP GENWORTH GLOBAL GOLDMAN SACHS HOME DEPOT JOHNSON & JOHNSON MERRILL LYNCH MET LIFE GLOBAL FUND NEW YORK LIFE PRINCIPAL LIFE PROCTERS GAMBLE PROTECTIVE LIFE ROYAL BANK OF CANADA SUNTRUST BANK 3M 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 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 ,590,861 .34 8,164,870.82 3,103,177.11 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 4,043,114.52 1,994,269.66 1,000,000.00 5,246,650.00 3,000,000.00 1 ,066,260.00 2,066,260.00 2,121,417.76 9,557,627.82 2,952,150.09 10,099,588.99 5,157,732.51 •NCY ISSUER Investment Cost 6,868,837.32 9,201,103.56 33,547,489.88 5,908,819.44 159,175,838.70 56,035,799.55 36,752,743.08 2,130,980.00 92,811,543.56 Percent of Portfolk 0.36% 0.29% 1 .47% 0.56% 1.99% 4.96% 0.36% 0.18% 0.54% 0.18% 0.88% 0.73% 0.36% 0.18% 0.95% 0.54% 0.19% 0.37% 0.38% 1.72% 0.53% 1.82% 0.93% Percent of Portfolio** 1 .24% 1.66% 6.05% 1 .07% 28.70% 10.10% 6.63% 0.38% 16.74% $554,536,511.66