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HomeMy WebLinkAbout2009-11-03; City Council; 20030; Report on City investments as of Sept 30, 2009CITY OF CARLSBAD - AGENDA BILL AB# 20,030 MTG. 11/03/09 DEPT. TRS REPORT ON CITY INVESTMENTS AS OF SEPTEMBER 30, 2009 DEPT. HEAD -rff/f CITY ATTY. >P 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 September 30, 2009 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1) Market Value (2) Current Month 546,121,236 552,767,251 550,079,431 559,270,867 Prior Month 548,127,036 554,536,512 552,123,651 561,010,574 (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 9/30/09. The equity portion of the various funds in the total portfolio is summarized in the graph below. Fund balances are restricted for various purposes. See Exhibit 8 for a more detailed breakdown. FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) $61.5 Special Revenue $-16.2 Capital Projects $ 279.7 General Other $.3 Internal Service$26.8 Agency $J2 7 Enterprise$1229 Total Treasurer's Investment Portfolio at Amortized Cost September 30, 2009 $550.1 million FOR CITY CLERKS USE ONLY. COUNCIL ACTION: APPROVED ^ DENIED D CONTINUED D WITHDRAWN D CONTINUED TO DATE SPECIFIC D CONTINUED TO DATE UNKNOWN D RETURNED TO STAFF D OTHER-SEE MINUTES D AMENDED Council accepted the report. PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF SEPTEMBER 30, 2009 Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 5,565,811 Prior Month FYTD 3,959,978 Current Month Income 1,605,833 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement July 2009 August 2009 September 2009 Average Life (Years) 1.54 1.63 1.59 Average Yield To Maturity 2.86% 2.82% 2.73% Modified Duration 1.452 1.540 1.503 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. Investment Portfolio for Bond Proceeds Par Value Cost Current Quarter 22,417,213 22,417,213 Prior Quarter 23,421,465 23,421,465 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 EXHIBITS FOR POOLED INVESTMENTS: (continued) 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 EXHIBIT FOR INVESTMENTS OF BOND PROCEEDS HELD SEPARATELY: 11. Detailed Investment Report - Quarterly Report EXHIBIT FOR SUMMARY OF OUTSTANDING HOUSING LOANS: 12. Detail Of Outstanding Housing Loans - Quarterly Report CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF SEPTEMBER 30, 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 BANKACCT TOTALS Current Month Prior Month 33,000 15,353,788 15 0 98,752,932 92 284,380,730 292 108,112,825 113 40,972,622 36 472 1,444,249 1,028,814 1 $550,079,431 $552 CD - Certificate of Deposit FN - Federal Discount Notes CP - Corporate Paper 33,000 ,324,159 0 ,619,760 ,528,213 ,166,563 ,208,622 45,775 914,116 ,283,442 ,123,650 Current Month 33,000 15,498,980 0 98,842,850 290,468,314 110,981,566 40,972,622 472 1,444,249 1,028,814 $559,270,867 TR - US Treasury FA - Federal Agency CN - Corporate Notes Prior Month 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 $561,010,574 Cash Income Year to Date Current 76 0 0 115,783 3,367,363 1,652,238 429,907 27 417 0 $5,565,811 Month Prior 0.90 2.32 0.00 0.40 3.28 4.20 0.91 0.15 0.10 0.10 2.73% LAIF - Local Agency Investment Fund Custody - Investment Cash account SWEEP - General Fund Overnight Cash acccount Month 0.90 2.32 0.00 0.35 3.33 4.23 0.99 0.15 0.10 0.10 2.82% m X JC1 — 1 DO Bank Account - General Fund Cash account CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF SEPTEMBER 30,2009 BREAKDOWN OF MA TURITIES BY CLASSIFICA TIONAND LENGTH OF TIME CLASS CD FN CP TR FA CN LAIF CUSTODY SWEEP BANK ACCT TOTALS % TOTALS Total within One WITHIN 6 MONTHS 33,000 5,908,819 0 53,209,317 36,224,329 7,127,635 40,972,622 472 1, 444,249 1,028,814 $145,949,256 (1) 26.4% Year 7 MONTHS TO 1 YEAR 0 0 0 29,627,744 47,934,097 16,075,380 0 0 0 0 $93,637,221 (1) 16.9% $239,586,477 (1) 1 TO 5 YEARS 0 9,201,104 0 16,192,031 202,257,005 85,530,635 0 0 0 0 $313,180,774 56.7% TOTAL 33,000 15,109,923 0 99,029,092 286,415,430 108,733,650 40,972,622 472 1,444,249 1,028,814 $552,767,251 100.0% % TOTAL 0.0% 2.7% 0.0% 17.9% 51.8% 19.7% (2) 7.4% 0.0% 0.3% 0.2% 100.0% 43.3% 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:Ei—i DO YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1996 - SEPTEMBER 2009 MARKET YIELD CURVE 6/30/08, 6/30/09, 9/30/09 Market Rates 3Mth 2Yr 5Yr 3Mth 2Yr 5Yr 10 Yr —06/30/2008 -*- 06/30/2009 -^•09/30/2009 1.73 .18 .11 2.62 1.11 .95 3.33 2.56 2.31 3.97 3.53 3.31 10 Yr X:ri—i CO Cumulative Millions $ Cumulative Cash Income F Y09-10 (September 2009) 20 18 16 14 12 10 8 6 1.99 L :LS 2,^ Monthly Interest Income Millions $ .61 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun c~3Interest Income --•--Budget Actual 8 7 6 5 4 3 2 1 0 Xn:i—i DO i—i —I cn City of Carlsbad TRANSACTIONS FOR PERIOD: 07/01/09 TO 09/30/2009 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 SEPTEMBER 09/01/2009 09/01/2009 08/10/2009 09/15/2009 09/15/2009 09/18/2009 09/23/2009 09/15/2009 09/23/2009 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 09/02/2009 09/02/2009 09/04/2009 09/16/2009 09/16/2009 09/21/2009 09/24/2009 09/28/2009 09/24/2009 TOTAL FIRST QUARTER MATURITIES JULY 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 Type TR TR TR TR TR FA FA FA FA FA CN FA CN FA FA FA FA FA TR TR FA TR TR FA TR FA FA 2009-2010 FA FA FA FA FA 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 US TREASURY US TREASURY FNMA US TREASURY US TREASURY FHLMC US TREASURY FHLB FNMA FHLMC FHLB FFCB FFCB FHLB FHLB FHLB FHLMC FHLMC 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 N/A N/A 09/07/2010 N/A N/A 01/17/2009 N/A 12/28/2009 09/23/201 1 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 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 5,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 4,000,000.00 3,000,000.00 3,000,000.00 67,250,000.00 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 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% 1.500% 1.250% 2.500% 2.750% 2.875% 1.500% 1.125% 1%STEP 2% STEP 3.250% 5.375% 5.150% 5.150% 3.100% 4.180% 3.100% 4.375% 4.375% 4.375% 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 5,062,500.00 5,048,828.13 2,000,000.00 2,042,343.75 2,040,781.25 1,001,300.00 4,018,593.75 3,000,000.00 3,000,000.00 67,979,791.04 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 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% 0.42% 0.46% 2.50% 0.32% 0.28% 1 .43% 0.86% 2.36% 3.16% 1.53% 2.50% 2.45% 5.05% 4.80% 2.35% 2.98% 3.10% 3.50% 2.32% 2.40% 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 24,524.46 28,869.96 150,416.67 5,631.79 4,531.25 27,283.33 60,889.95 213,750.00 479,833.33 3,333,496.92 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 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 5,087,024.46 5,077,698.09 2,150,416.67 2,047,975.54 2,045,312.50 1,028,583.33 4,079,483.70 3,213,750.00 3,479,833.33 71,313,287.96 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 X IEi—i 00I—I—I CTl City of Carlsbad TRANSACTIONS FOR PERIOD: 07/01/09 TO 09/30/2009 1ST QUARTER 2009-2010 Trans Date AUGUST SEPTEMBER Investment Date 05/1 5/2007 11/01/2006 01/22/2008 08/17/2007 04/24/2007 05/23/2007 03/14/2007 01/22/2008 02/01/2008 11/13/2007 06/05/2009 06/18/2009 06/18/2009 11/03/2006 TOTAL FIRST QUARTER CALLS and / or SALES JULY AUGUST SEPTEMBER 01/20/2009 08/07/2008 08/26/2008 11/12/2008 09/10/2007 05/12/2009 03/26/2009 11/19/2008 Type FA FA FA FA CN CN FA FA FA FA TR TR TR CN 2009-2010 FA FA FA FA FA FA FA FA Security HUD FHLB FHLB FFCB BANKOFAMERIC/ WAL-MART FHLB FHLB FHLB FHLMC US TREASURY US TREASURY US TREASURY MERRILL LYNCH FHLMC FNMA FNMA FNMA FNMA FFCB FHLMC FHLMC Call Date N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 07/20/2009 07/07/2009 08/26/2009 09/18/2009 09/10/2009 09/25/2009 09/26/2009 09/25/2009 1 5 2 3 2 5 2 3 1 1 3 4 5 5 57 3 2 1 2 1 3 3 1 Par Value ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,770,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 ,000,000.00 Coupon 4.430% 5.250% 2.891% 5.000% 4.625% 6.875% 4.378% 4.375% 5.250% 3.500% 0.000% 0.000% 0.000% 4.125% 2.000% 4.000% 4.000% 4.050% 5.200% 2.875% 2.500% 5.500% 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 1,984,643.55 3,070,602.00 1,041,519.37 990,283.25 2,998,873.33 3,998,584.44 4,998,040.97 4,884,751.43 58,279,923.84 3,000,000.00 1,996,500.00 999,500.00 1,987,600.00 1,000,000.00 3,000,000.00 3,000,000.00 1,022,910.00 Return Rate 4.90% 4.87% 2.89% 5.00% 5.00% 5.06% 4.71% 2.89% 2.60% 4.04% 0.13% 0.14% 0.16% 5.00% 3.195% 2.00% 4.06% 4.02% 4.19% 5.20% 2.87% 4.21% 4.96% Interest 107,754.22 676,675.82 90,925.67 300,000.00 226,519.50 573,720.49 233,377.28 144,137.58 43,073.96 75,536.19 1,126.67 1,415.56 1,959.03 703,633.99 3,906,142.20 120,000.00 236,833.33 120,500.00 405,250.00 260,000.00 343,562.50 615,000.00 243,840.00 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 2,218,020.83 3,214,739.58 1,084,593.33 1,065,819.44 3,000,000.00 4,000,000.00 5,000,000.00 5,588,385.42 62,186,066.04 3,120,000.00 2,233,333.33 1,120,000.00 2,392,850.00 1,260,000.00 3,343,562.50 3,615,000.00 1,266,750.00 TOTAL FIRST QUARTER 2009-2010 16,000,000.00 16,006,510.00 3.622% 2,344,985.83 18,351,495.83 INVESTMENT REPORT AS OF SEPTEMBER 30, 2009 INVESTMENT DATE 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 10/30/2007 02/12/2008 09/18/2007 09/26/2007 05/08/2008 12/05/2008 03/11/2009 09/26/2007 06/01/2009 i. 05/05/2008 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 FA FA FA FA FA FA SECURITY FHLB5.0% NON-CALL FFCB5.00% NON-CALL FNMA4.0% NON-CALL FFCB 4.350% NON-CALL FFCB4.125% NON-CALL FHLB4.25% NON-CALL FNMA4.0% NON-CALL FHLMC 4.125% NON-CALL FHLB5.0% 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 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 1.25% NON-CALL FHLB 4.375% NON-CALL PAR VALUE 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 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 INVESTED AMOUNT 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 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 RETURN RATE 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% 4.337% 3.190% 4.530% 4.500% 3.115% 2.420% 1.400% 4.490% 0.700% 2.980% INTEREST 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 62,326.67 209,453.33 175,897.58 121,226.76 239,250.00 402,452.92 268,756.21 145,457.34 86,402.50 41,922.22 269,508.33 19,276.11 74,901.88 INVESTMENT RETURN 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 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 2,311,208.33 2,034,236.11 1,107,795.14 TERM (Days) 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 1,015 912 1,070 1,080 855 644 548 1,083 500 900 xn: H-1 DO INVESTMENT REPORT AS OF SEPTEMBER 30,2009 INVESTMENT DATE TYPE SECURITY 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 09/21/2009 FA FHLMC 1.5% 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 01/23/2009 FA FHLB 5.00% NON-CALL 10/30/2007 FA FHLMC 5.50% NON-CALL 03/15/2007 FA FHLB 4.875% NON-CALL 10/05/2007 FA FHLB 4.9% CALL 10/05/09 10/19/2007 FA FHLB 5.00% CALL 10/19/09 03/05/2008 FA FHLB 5.30% CALL 10/27/09 03/19/2007 FA FHLB 4.875% NON-CALL 06/29/2009 FA FFCB 2.0% NON-CALL 03/26/2007 FA FHLMC 5.0% CALL 3/26/10 03/26/2007 FA FHLMC 5.0% CALL 3/26/10 04/20/2007 FA FHLMC 5.0% CALL 3/26/10 05/21/2007 FA FFCB 4.875% NON-CALL 08/17/2009 FA FHLMC 2.0% CALL 5/17/10 07/25/2007 FA TVA 6.790% NON-CALL 07/22/2009 FA FHLB 1.90% QRTLY CALL PAR VALUE 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 1 ,000,000.00 3,000,000.00 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 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 INVESTED AMOUNT 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 1,001,300.00 3,152,520.00 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 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 RETURN RATE 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% 1.430% 1.490% 4.773% 4.730% 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% INTEREST 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 27,283.33 100,323.75 432,911.11 640,148.00 53,868.89 522,075.00 647,473.00 392,000.00 600,000.00 301,311.11 672,403.75 167,200.00 500,000.00 750,000.00 246,979.17 489,057.50 (1,786,500.00) 524,632.22 54,741 .66 INVESTMENT RETURN 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 1,028,583.33 3,252,843.75 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 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 TERM (Days) 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 1,610 934 695 794 1,649 1,639 959 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 INVESTMENT REPORT AS OF SEPTEMBER 30, 2009 INVESTMENT DATE 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 09/04/2009 03/12/2009 05/05/2008 08/22/2008 09/28/2009 05/11/2009 10/29/2007 12/10/2007 10/22/2007 11/28/2007 12/06/2007 06/03/2008 05/19/2009 12/21/2007 12/21/2007 01/23/2008 01/14/2008 05/19/2009 08/27/2009 03/10/2008 08/26/2009 05/14/2008 11/10/2008 08/13/2009 12/03/2008 08/27/2008 08/21/2009 08/19/2009 11/12/2008 12/17/2008 11/26/2008 01/20/2009 02/12/2009 FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA 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 5.375% NON-CALL FHLB 5.375% NON-CALL FHLB 4.375% NON-CALL FHLB 1.50% CALL Quarterly FHLB 5.58% CALL 7/20/10 FFCB 3.950% NON-CALL FHLB 2.0% CALL 7/27/10 FHLB 5.52% CALL 7/30/10 FHLB 2.0% CALL 2/10/10 FHLB 4.35% CALL 8/13/10 FHLMC 2.25% CALLI 11/13/09 FHLB 4.625% NON-CALL FNMA 2.625% CALL 8/27/10 FNMA 2.50% CALL 9/7/10 FHLMC 2.0% CALL 3/12/10 FHLB 5.00% NON-CALL FHLB 4.5% NON-CALL FHLB 1.0% CALL Qrtly FHLMC 3.875% NON-CALL FHLMC 5.05% CALL 10/15/09 FFCB 4.5% NON-CALL FHLB 5.00% CALL 4/22/10 FNMA 5.00% CALL 10/30/09 FNMA 5.00% CALL 10/30/09 FNMA 6.41% NON-CALL FNMA 2.2% CALL 5/19/10 FHLMC 4.375% CALL 12/21/09 FHLMC 4.375% CALL 12/21/09 FHLB 4.7% 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 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 FHLB 3.5% CALL 11/26/10 FHLB 3.125% NON-CALL FNMA 2.00% CALL 2/12/10 PAR VALUE 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 2,000,000.00 2,000,000.00 1,175,000.00 1,000,000.00 3,000,000.00 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 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 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 2,000,000.00 2,000,000.00 INVESTED AMOUNT 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 2,000,000.00 2,000,000.00 1,238,814.19 1,022,730.00 3,000,000.00 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 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 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 2,000,000.00 2,047,941.08 2,000,000.00 RETURN RATE 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% 2.500% 2.710% 3.640% 3.889% 2.357% 1.928% 4.892% 4.100% 5.000% 4.746% 4.653% 3.890% 2.200% 4.675% 4.675% 4.061% 4.250% 2.320% 2.945% 3.765% 2.384% 4.000% 3.800% 2.450% 3.983% 3.970% 2.518% 2.550% 3.818% 2.625% 4.361% 2.600% 3.500% INTEREST 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 67,500.00 176,901.11 183,750.00 150,416.67 190,000.00 192,237.89 160,020.00 213,750.00 67,701.81 243,661.11 401,970.00 500,000.00 705,333.33 460,000.00 331,405.40 154,000.00 1,168,750.00 935,000.00 409,022.22 637,500.00 87,000.00 208,000.00 560,476.67 172,833.33 320,000.00 181,163.02 195,081.41 371,823.06 392,177.78 197,066.67 102,330.12 184,776.67 259,712.78 440,000.00 258,135.31 355,000.00 INVESTMENT RETURN 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 2,150,416.67 2,190,000.00 1,431,052.08 1,182,750.00 3,213,750.00 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 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 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 2,440,000.00 2,306,076.39 2,355,000.00 TERM (Days) 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 1,099 1,280 1,593 1,484 1,096 1,238 1,813 1,773 1,827 1,798 1,790 1,624 1,280 1,827 1,827 1,811 1,827 1,372 1,280 1,824 1,321 1,826 1,677 1,401 1,678 1,785 1,432 1,461 1,759 1,731 1,826 1,788 1,826 INVESTMENT REPORT AS OF SEPTEMBER 30, 2009 INVESTMENT DATE 05/14/2009 08/27/2009 09/24/2009 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 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 09/16/2009 06/05/2009 09/16/2009 07/22/2009 TYPE FA FA FA FN FN FN FN FN FN FN FN FN 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 FNMA 2.0% CALL 8/14/09 FHLB 3.0% CALL 11/27/09 STEP FNMA 2.0% CALL 9/23/1 1 STEP SUB-TOTAL 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 SUB-TOTAL Federal Investments Total US TREASURY 00% US TREASURY 00% US TREASURY 00% US TREASURY 00% US TREASURY 00% US TREASURY 00% US TREASURY 00% US TREASURY 00% US TREASURY 00% US TREASURY 00% 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 2.8750% US TREASURY 2.750% US TREASURY 2.750% US TREASURY 2.00% PAR VALUE 2,000,000.00 3,000,000.00 3,000,000.00 282,011,000.00 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 16,000,000.00 298,011,000.00 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 2,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 INVESTED AMOUNT 2,000,000.00 3,000,000.00 3,000,000.00 286,415,430.36 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 15,109,923.00 301,525,353.36 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 2,040,781.25 3,077,578.13 2,042,343.75 3,052,031.25 RETURN RATE 2.000% 3.951% 3.163% 3.277% 3.109% 0.274% 0.386% 2.200% 2.300% 2.710% 2.850% 3.000% 3.050% 2.320% 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% 0.282% 0.501% 0.317% 0.537% INTEREST 320,000.00 600,000.00 479,833.33 30,673,767.43 171,500.00 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 31,649,594.43 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 4,531.25 17,684.30 5,631.79 19,444.16 INVESTMENT RETURN 2,320,000.00 3,600,000.00 3,479,833.33 317,089,197.79 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 16,085,750.00 333,174,947.79 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 2,045,312.50 3,095,262.43 2,047,975.54 3,071,475.41 TERM (Days) 1,826 1,826 1,825 1,169 343 184 253 744 908 1,178 1,171 1,166 1,314 807 1,976 119 126 146 192 167 154 179 162 220 182 182 240 193 255 293 221 299 343 314 282 344 405 390 287 421 318 435 INVESTMENT REPORT AS OF SEPTEMBER 30,2009 °\ INVESTMENT DATE 09/02/2009 09/24/2009 09/02/2009 11/10/2008 11/12/2008 03/02/2009 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 05/12/2009 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 TYPE TR 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 CN CN CN CN SECURITY US TREASURY 1.50% US TREASURY 1.1250% US TREASURY 1.25% US TREASURY 3.125% US TREASURY 3.125% SUB-TOTAL WELLS FARGO BANK 9218910637 SUB-TOTAL GENERAL ELECTRIC 5.250% NON-CALL BERKSHIRHATWY 4.125% NON-CALL BERKSHIRHATWY 4.125% 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 MET LIFE GLOBAL FUNDING 5.125% NON-CAU GENERAL ELECTRIC 5.50% CALL 1 1/15/08 SUNTRUST BANK 3.0% NON-CALL CITIGROUP 2.875% NON-CALL TOYOTA 5.25% NON-CALL GENERAL ELECTRIC 5.875% NON-CALL GENERAL ELETRIC 5.875% NON-CALL GENERAL ELETRIC 5.875% NON-CALL CHEVRON 3.450% NON-CALL BARCLAYS BANK 2.7% NON-CALL BERKSHIRHATWY 4.00% NON-CALL BERKSHIRHATWY 4.00% NON-CALL PAR VALUE 5,000,000.00 4,000,000.00 5,000,000.00 1,000,000.00 1,000,000.00 98,000,000.00 33,000.00 33,000.00 2,000,000.00 2,000,000.00 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 INVESTED AMOUNT 5,062,500.00 4,018,593.75 5,048,828.13 1,031,328.00 1,030,781.25 99,029,091.70 33,000.00 33,000.00 2,030,120.00 2,040,548.16 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 RETURN RATE 0.419% 0.859% 0.461% 2.430% 2.452% 0.402% 0.900% 0.900% 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% 4.250% 5.500% 1.500% 1.680% 1.800% 4.970% 5.100% 4.700% 2.180% 2.330% 3.200% 3.300% INTEREST 24,524.46 60,889.95 28,869.96 118,792.86 121,777.13 579,474.01 620.00 620.00 178,713.33 121,014.34 122,750.52 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 INVESTMENT RETURN 5,087,024.46 4,079,483.70 5,077,698.09 1,150,120.86 1,152,558.38 99,608,565.71 33,620.00 33,620.00 2,208,833.33 2,161,562.50 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 TERM (Days) 424 644 454 1,755 1,783 373 365 365 726 716 715 646 519 818 973 834 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 1,203 911 1,631 824 955 857 1,793 1,588 1,553 1,026 1,035 1,090 1,088 INVESTMENT REPORT AS OF SEPTEMBER 30, 2009 INVESTMENT DATE 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 05/12/2009 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 CN CN CN CN CN CN O O O O O O O O SECURITY 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 MET LIFE GLOBAL FUNDING 5 WAL-MART 4.250% NON-CALL ALLSTATE LIFE 5.375% NON-CALL NEW YORK LIFE 4.650% NON-CALL BERKSHIRHATWY 4.60% 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 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 Ml CALL CALL ALL sl-CALL I-CALL I-CALL i% NON-CAL i% NON-CAL L _L iLL ALL SUB-TOTAL T ACCOUNT iRPORATION )RATION SUB-TOTAL PAR VALUE 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 1,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 5,000,000.00 1,000,000.00 106,631,080.00 1,028,066.00 1 ,444,248.63 748.42 471.73 13,031,000.00 3,481,621.67 9,006,000.00 15,454,000.00 43,446,156.45 INVESTED AMOUNT 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 1,047,829.91 2,023,559.81 1 ,006,649.66 1 ,023,835.68 2,121,417.76 5,246,650.00 1,003,190.00 108,733,649.59 1 ,028,066.00 1 ,444,248.63 748.42 471.73 13,031,000.00 3,481,621.67 9,006,000.00 15,454,000.00 43,446,156.45 RETURN RATE 4.500% 5.200% 4.550% 5.050% 4.750% 4.830% 4.500% 4.240% 5.050% 4.900% 2.950% 5.100% 4.500% 4.000% 2.850% 3.420% 3.130% 4.200% 0.100% 0.100% 0.000% 0.150% 0.910% 0.910% 0.910% 0.910% 0.864% INTEREST 178,375.00 253,896.02 189,541.49 605,158.33 237,753.83 484,836.30 449,799.83 205,539.76 251,024.46 485,410.46 118,982.59 504,981.86 225,850.34 177,542.10 251,186.41 800,488.89 155,565.56 18,116,176.64 2.82 3.96 - 0.00 329.39 88.01 227.65 390.64 1 ,042.47 INVESTMENT RETURN 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 1,166,812.50 2,528,541.67 1,232,500.00 1,201,377.78 2,372,604.17 6,047,138.89 1,158,755.56 126,849,826.23 1 ,028,068.82 1 ,444,252.59 748.42 471.73 13,031,329.39 3,481,709.68 9,006,227.65 15,454,390.64 43,447,198.92 TERM (Days) 1,447 1,750 1,477 1,459 1,811 1,815 1,792 1,728 1,812 1,799 1,434 1,796 1,826 1,604 1,556 1,664 1,812 1,331 1 1 1 1 1 1 1 1 GRAND TOTAL 546,121,236.45 552,767,251.10 2.728% 18,949,162.76 603,114,158.65 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF SEPTEMBER 30, 2009 Cash Balance by Fund: General 61,456,265 Special Revenue 46,157,654 Debt Service 5,500,758 Capital Projects: General Capital Construction 64,944,697 Traffic Impact Fees 17,456,102 Public Facilities Fees 43,039,993 Park Development 2,336,657 Transnet Taxes 6,142,375 Drainage Fees 8,305,657 Special Districts 83,123,583 Infrastructure Replacement 53,463,466 Other Capital Construction 929,745 Total 279,742,275 Enterprise: Carlsbad Municipal Water District 63,338,185 Sewer Fund 50,683,058 Solid Waste 7,011,577 Storm Water 1,653,278 Golf Course 255,243 Total 122,941,342 Internal Service 26,786,938 Agency Funds 12,667,703 Redevelopment Funds (1) 0 Misc. Special Funds 0 Total General Ledger Balance ** 555,252,935 Reconciling Adjustments (2) (5,173,504) Total Treasurer's Investment Portfolio at Amortized Cost 550,079,431 (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 10/0709 >7 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of September 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 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 JOHNSON & 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 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 AA3 A2 A1 S&P AA- A A A BBB+ A+ AA- AA Purchased 05/30/2008 06/20/2006 05/07/2008 03/19/2008 06/12/2006 04/30/2008 07/17/2008 01/30/2008 Carrying Value 2,017,157 11,039,643 2,009,691 1,008,083 2,992,603 1,000,000 3,000,000 5,071,629 Market Value 2,128,800 11,238,460 1,989,960 1,025,720 3,116,550 1,025,930 2,925,840 5,196,500 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF SEPTEMBER 30, 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 MET LIFE GLOBAL FUND NEW YORK LIFE PRINCIPAL LIFE PROCTER & 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 4,043,114.52 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 ENCY ISSUER Investment Cost 6,868,837.32 9,201,103.56 30,547,489.88 5,908,819.44 156,079,073.78 52,023,906.30 38,765,143.08 2,130,980.00 99,029,091.70 Percent of Portfolh 0.37% 0.29% 1.48% 0.56% 1.99% 4.97% 0.36% 0.19% 0.54% 0.18% 0.73% 0.36% 0.18% 0.95% 0.54% 0.19% 0.37% 0.38% 1.73% 0.53% 1.83% 0.93% Percent of Portfolio" 1.24% 1 .66% 5.53% 1 .07% 28.24% 9.41% 7.01% 0.39% 17.92% $552,767,251.10 City of Carlsbad Bond Proceeds Investment Report September 30, 2009 Fund Type Assessment District 03-01 Project Fund Redemption Fund Investments (College/Cannon) LAIF LAIF Stated Int. Rate 0.90% 0.90% Maturity Date N/A N/A $ $ Par Value 949,212 1,184,524 $ $ Re-Assessment District 97-01 (Alga Road & College Blvd) Imprvmnt Fund - Alga Assessment District 95-01 Reserve Fund Assessment District 96-01 Reserve Fund Assessment District 02-01 Improvement Fund Redemption Fund EFJPA Reserve Fund AIM STIT Treasury (Carlsbad Ranch) Repub Natl Bank Repo Agreement (HSBC) (Rancho Carrillo) Repub Natl Bank Repo Agreement (HSBC) (Poinsettia Lane) AIM LAIF AIG Investment Agreement N/A 5.83% 6.03% N/A 0.90% 5.36% N/A N/A 09/02/28 N/A N/A 08/01/14 $ $ $ $ $ $ 277,674 895,254 1,292,770 4,600,901 2,465,306 953,706 $ $ $ $ $ $ Communities Facilities District #3 Improvement Area 1 Project Fund Reserve Fund Other AIM STIT Treasury BNY Hamilton Money Market BNY Hamilton Money Market N/A various various N/A 09/01/36 N/A $ $ $ 2,700,577 771 ,242 24,492 $ $ $ Communities Facilities District #3 Improvement Area 2 Project Fund Reserve Fund Other CPFA Golf Course Bonds Reserve Fund Other LAIF BNY Hamilton Money Market LAIF/BNY BNY Hamilton Money Market BNY Hamilton Money Market 0.90% various various various various N/A 09/01/38 N/A N/A N/A $ $ $ $ $ $ 66,569 1,068,189 3,928,472 1 ,238,325 22,417,213 $ $ $ $ $ $ Cost Fiscal Agent: 949,212 1,184,524 Fiscal Agent: 277,674 Fiscal Agent: 895,254 Fiscal Agent: 1,292,770 Fiscal Agent: 4,600,901 2,465,306 Fiscal Agent: 953,706 Fiscal Agent: 2,700,577 771,242 24,492 Fiscal Agent: 66,569 1,068,189 3,928,472 Fiscal Agent: 1,238,325 22,417,213 Source BNY Western Trust LAIF LAIF US Bank AIM Instit. Fund Services BNY Western Trust HSBC Bank of New York BNY Western Trust HSBC Bank of New York BNY Western Trust AIM Instit. Fund Services LAIF BNY Western Trust GIC BNY Western Trust AIM Instit. Fund Services BNY Western Trust BNY Western Trust BNY Western Trust LAIF BNY Western Trust LAIF/BNY BNY Western Trust m BNY Western Trust 2< BNY Western Trust £ i — i—i i— > H:\Long Term Debt\Quarterly Investment Reports\Qtr Inv Rpt.xlsx City of Carlsbad Summary of Outstanding Housing Loans As of September 30, 2009 Updated on: 10/08/09 Loan amount Developer loan Loans issued by Loans Issued by Developer due to City amount due to City First date * of loans City to developers/ Developer to fof loans City loan repaid loan repaid to (recorded as (not on City's Borrower Development Purpose issued Issued homeowners homeowners outstanding to City City AR) books)Type of Loan Individual homebuyers City-wide (CHAP) Sale Individual homebuyers Calavera Hills Sale Individual homebuyers Cherry Tree Walk Sale Individual homebuyers Serrano Sale Individual homebuyers Rancho Carlsbad Sale Individual homebuyers Solamar Sale Catholic Charities Homeless shelter Shelter CB Laurel Tree Apartments Laurel Tree Rentals CB Housing Partnership Rancho Carrillo Rentals Pacific Vista Las Flores Vista Las Flores Rentals Poinsettia Housing Assoc Poinsettia Station Rentals Bridge Housing Corp Villa Loma Rentals Dove Family Housing CIC Calavera LP Individual homebuyers Individual homebuyers La Costa Patoms Rentals Mariposa Apts Rentals Mulberry at Bressi Ranch Sale Village by the Sea Sale El Camino Family Housing Cassia Heights Rentals Individual homebuyers Laguna Point Sale Individual homebuyers The Bluffs Roosevelt St. Habitat for Humanity Condos CIC La Costa Hunter's Point Sale Sale Rentals 06/28/99 10/15/99 06/28/99 05/25/01 05/20/99 09/26/88 09/19/97 12/24/98 03/05/01 02/27/01 10/21/99 11/04/94 07/15/03 09/15/04 04/29/05 10/28/05 03/07/06 07/06/06 06/14/07 08/30/07 08/19/08 Down Payment & Closing Cost Assistance Various Assistance 06/25/09 133 5 42 90 22 9 1 2 1 1 1 2 1 1 100 11 1 3 8 1 1 1 $1,680,000 $ - 38 75,000 150,000 1 453,600 452,600 14 1,350,000 4,050.000 34 752.533 - 15 147,726 - 1 200,000 - 1 1,134.000 - 2 1,157,584 - 1 363,948 - 1 920,000 - 1 2,212.000 - 2 2,070,000 - 1 1.060,000 - 1 1,840,000 19,660,200 100 220.000 4,087,200 7 1,454.276 - 1 210,000 3 200,000 8 797.539 1 1,932,000 - 1 13.000 1 (1,259,595.63) (60,000) (302,400) (840,133) (256.410) (135,065) (357,839) $ - $420,404.37 (120,000) 15,000 (283,250) 151,200 (2,520,000) (1,481,610) (746,061) 509,867 496,123 12,661 200,000 776,161 1,157,584 363,948 920,000 730,390 1,323,939 1,060,000 1.840,000 220,000 1,454,276 210,000 200.000 797,539 1,932,000 13,000 420,404 30,000 45,000 169,350 320,550 1,530,000 2,039,867 496,123 12.661 200,000 776,161 1,157,584 363,948 920,000 730,390 1,323,939 1,060,000 19,660,200 21,500,200 4,087,200 4.307,200 1,454,276 210,000 200,000 797,539 Payment deferred 15 years. No interest is due unless home is sold before 16th year Payment deferred 30 years. No interest is due unless home is sold before 31th year Payment deferred 30 years. No interest is due unless home is sold before 31th year Payment deferred 30 years. No interest is due unless home is sold before 31th year Principal is due when home is sold Principal is due when home is sold Principal is due when property is sold Principal and 3% interest each year for 30 years when surplus cash is available Principal and 3% interest each year for 55 years when surplus cash is available Principal and 3% interest each year for 55 years when surplus cash is available Principal and 3% interest each year for 55 years when surplus cash is available Principal and 3% interest each year for 15 years when surplus cash is available Principal and 3% interest each year for 55 years when surplus cash is available pnncipai ana j1* interest eacn year tor as years when surplus cash is available Payment deferred 30 years. No interest is due unless home is sold before 31th year Payment deferred 30 years. No interest is due unless home is sold before 31th year Principal and 3% interest each year for 55 years when surplus cash is available Payment deferred 45 years. No interest is due unless home is sold before 46th year Payment deferred 30 years. No interest is due unless home is sold before 31th year Refer to Agenda Bill 18,569 / Resolution 2006-131 & AB 19.183/R2007-255 1,932,000 Refer to Council Resolutions 05-264 & 06-160 13,000 Refer to Agenda Bill 19,415 / Resolution 2008-121 437 20,243,206 $ 28.400,000 235 $ (5,439,114) $(2,923,250) $14,804,092 $ 25,476,750 $40,280.842 CO During the 1st Qtr of FY2009-10, approximately $16,522 was received in CHAP loan payments, loan balance is now $14,804,093. Also, a $50,000 principal payment was received for the La Costa Paloma development. A $5,717 principal payment was received for the Laurel Tree development. The total outstanding_j t—' INi