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HomeMy WebLinkAbout2009-12-01; City Council; 20051; City Invenstments as of 10/31/2009CITY OF CARLSBAD - AGENDA BILL 10 AB# 20.051 MTG. 12/01/09 DEPT. TRS REPORT ON CITY INVESTMENTS AS OF OCTOBER 31, 2009 DEPT. HEAD ffi?? CITYATTY. ' d^^ CITYMGR. l/^^ 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 October 31, 2009 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1) Market Value (2) Current Month 536,816,712 544,416,437 541,574,919 551,485,530 Prior Month 546,121,236 552,767,252 550,079,431 559,270,867 (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 10/31/09. 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. FOND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) General $57.5 Special Re* cnuc $ 46.3 Capital Projects $271.2 Other $3.2 Internal Sen'ice $26.9 ABsnCy $11.9 Enterprise $124.6 Total Treasurer's Investment Portfolio at Amortized Cost October 31, 21)09 $541.6 million FOR CITY CLERKS USE ONLY. COUNCIL ACTION: APPROVED Of DENIED D CONTINUED D WITHDRAWN D AMENDED D CONTINUED TO DATE SPECIFIC CONTINUED TO DATE UNKNOWN RETURNED TO STAFF OTHER -SEE MINUTES Council accepted the report. D D D D DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan@carlsbadca.gov PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF OCTOBER 31. 2009 Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 7,165,824 Prior Month FYTD 5,565,811 Current Month Income 1,600,013 The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement August 2009 September 2009 October 2009 Average Life (Years) 1.63 1.59 1.62 Average Yield To Maturity 2.82% 2.73% 2.63% Modified Duration 1.540 1.503 1.537 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. Second 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 OCTOBER 31, 2009 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS AVERAGE YIELD Class CD FN CP TR FA CN LAIF CUSTODY SWEEP BANKACCT Current Month 33,000 12,376,655 0 101,727,604 282,737,784 106,058,245 35,801,670 (37,457) 2,498,318 379,101 Prior Month Current Month 33,000 15,353,788 0 98,752,932 284,380,730 108,112,825 40,972,622 472 1,444,249 1,028,814 33,000 12,558,790 0 101,844,870 288,698,260 109,708,978 35,801,670 (37,457) 2,498,318 379,101 Prior 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 Cash Income Year to Date Current Month Prior Month 101 0 0 159,062 4,240,904 2,229,731 535,414 32 579 0 0.90 2.13 0.00 0.46 3.11 4.20 0.63 0.15 0.10 0.10 0.90 2.32 0.00 0.40 3.28 4.20 0.91 0.15 0.10 0.10 TOTALS $541,574,919 $550,079,431 $551,485,530 $559,270,867 $7,165,824 2.63%2.73% 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 CD CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF OCTOBER 31,2009 BREAKDOWN OF MATURITIES BY CLASSIFICATION AND 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 2,994,569 0 51,371,338 34,132,979 5,097,515 35,801,670 (37,457) 2,498,318 379,101 $132,271,033 (1) 24.3% Year 7 MONTHS TO 1 YEAR 0 0 0 24,535,742 54,560,395 16,075,380 0 0 0 0 $95,171,518 (1) 17.5% $227,442,550 (1) 1 TO 5 YEARS 0 9,201,104 0 26,195,156 196,046,993 85,530,635 0 0 0 0 $316,973,887 58.2% TOTAL 33,000 12,195,673 0 102,102,236 284,740,367 106,703,530 35,801,670 (37,457) 2,498,318 379,101 $544,416,437 100.0% % TOTAL 0.0% 2.2% 0.0% 18.8% 52.3% 19.6% (2) 6.6% 0.0% 0.5% 0.1% 100.0% 41.8% 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.xzcI—I D3 YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1996 - OCTOBER 2009 MARKET YIELD CURVE 6/30/08,6/30/09, 10/31/09 Market Rates 3Mth 2Yr 5Yr 10 Yr 3Mth 2Yr 5Yr 10 Yr —-06/30/2008 -*- 06/30/2009 <*«•- 1073 172009 1.73 .18 .05 2.62 1.11 .89 3.33 2.56 2.31 3.97 3.53 3.38 Xn:i—i CO Cumulative Cash Income FY09-10 Cumulative fr^ u onnn \Millions $ (October 2009 ) 20 18 16 14 12 10 8 6 4 2- n Monthly Interest Income Millions $ o >*-"~" ^^ ^^ ^^ ^^^ 1.99 ^^^ 1 Q7^J^| . % f ^^^ A ft A A /»^>^^ 1.61 1.6 f^ u [- 7 6 5 3 2 1 _ n Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Interest Income -•••• Budget Actual Xn:i—i CO City of Carlsbad TRANSACTIONS FOR PERIOD: 10/01/09 TO 10/31/09 2ND QUARTER 2009-2010 Trans Date BUYS OCTOBER 09/30/2009 09/30/2009 09/30/2009 09/30/2009 10/16/2009 10/16/2009 10/16/2009 10/16/2009 10/16/2009 10/19/2009 10/19/2009 10/19/2009 10/19/2009 10/19/2009 10/19/2009 10/27/2009 10/27/2009 Investment Date 10/01/2009 10/01/2009 10/01/2009 10/13/2009 10/19/2009 10/19/2009 10/19/2009 10/19/2009 10/19/2009 10/20/2009 10/20/2009 10/20/2009 10/20/2009 10/20/2009 10/27/2009 10/28/2009 10/28/2009 Maturity Date 01/31/2011 08/05/201 1 09/24/2012 10/13/2010 01/31/2011 05/23/2012 07/19/2012 10/21/2013 02/28/201 1 06/18/2012 02/07/2013 05/22/2013 06/12/2013 06/30/2014 07/27/2012 05/31/2011 06/30/201 1 Type TR FA FA FA TR FA FA FA TR FA FA FA FA FA FA TR TR Security US TREASURY FHLB FFCB FHLB US TREASURY TVA FFCB FFCB US TREASURY FFCB FFCB FHLMC FHLMC FFCB FNMA US TREASURY US TREASURY Call Date N/A N/A N/A 04/13/10 N/A N/A 10/19/2010 N/A N/A N/A N/A N/A N/A N/A 10/27/2010 N/A N/A TOTAL SECOND QUARTER 2009-2010 MATURITIES OCTOBER 11/01/2007 03/19/2007 03/05/2008 01/22/2008 10/23/2008 06/18/2009 06/18/2009 06/05/2009 10/27/2009 10/02/2009 10/23/2009 10/28/2009 10/01/2009 10/15/2009 10/22/2009 10/29/2009 CN FA FA FA FN TR TR TR GENERAL ELECTRIC FHLB FFCB FNMA FHLBN US TREASURY US TREASURY US TREASURY N/A NA NA NA NA NA NA NA Par Value 3,000,000.00 1 ,000,000.00 1 ,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 1 ,000,000.00 500,000.00 500,000.00 3,000,000.00 1,000,000.00 3,000,000.00 3,000,000.00 36,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 500,000.00 3,000,000.00 5,000,000.00 4,000,000.00 3,000,000.00 Coupon 0.875% 1.375% 1 .800% .35% STEP 0.875% 6.790% 1 .550% 5.350% 0.875% 2.125% 5.150% 4.250% 4.000% 4.375% 1.700% 0.875% 1.125% 5.250% 5.00% 5.00% 4.00% 0.00% 0.00% 0.00% 0.00% Amount (Cost) 3,014,531.25 1,006,100.00 1,003,470.00 2,000,000.00 3,012,656.25 3,399,498.48 2,995,200.00 2,235,072.36 3,011,718.75 3,049,023.21 1,102,490.00 536,967.86 532,794.50 3,234,480.00 998,800.00 3,008,320.31 3,018,398.44 37,159,521.41 2,030,120.00 3,014,820.00 2,090,620.00 508,645.00 2,914,250.00 4,997,190.28 3,997,480.00 2,997,810.00 Return Rate 0.509% 1 .040% 1.680% 0.550% 0.544% 1.534% 1.610% 2.264% 0.587% 1.496% 1 .926% 2.100% 2.120% 2.595% 1 .745% 0.699% 0.755% 1.274% 4.450% 4.790% 2.160% 2.986% 3.109% 0.172% 0.183% 0.183% Interest 20,421.20 19,261.11 50,180.00 1 1 ,000.00 21,012.23 128,989.85 132,675.00 193,522.08 24,103.07 120,622.62 67,316.94 39,296.03 40,094.39 381,665.83 47,950.00 10,758.20 11,005.43 1,319,873.98 178,713.33 365,596.67 72,713.33 26,688.33 171,500.00 2,809.72 2,520.00 2,190.00 Investment Return 3,034,952.45 1,025,361.11 1 ,053,650.00 2,011,000.00 3,033,668.48 3,528,488.33 3,127,875.00 2,428,594.44 3,035,821.82 3,169,645.83 1,169,806.94 576,263.89 572,888.89 3,616,145.83 1,046,750.00 3,019,078.51 3,029,403.87 38,479,395.39 2,208,833.33 3,380,416.67 2,163,333.33 535,333.33 3,085,750.00 5,000,000.00 4,000,000.00 3,000,000.00 NOVEMBER V> 03/06/2008 01/28/2008 01/31/2008 01/22/2008 01/22/2008 05/11/2009 06/05/2009 06/18/2009 06/01/2009 06/18/2009 11/06/2009 11/13/2009 11/13/2009 11/16/2009 11/18/2009 11/19/2009 11/19/2009 11/19/2009 11/27/2009 11/27/2009 FA FA FA FA FA TR TR TR TR TR FFCB FFCB FHLB FNMA FHLMC US TREASURY US TREASURY US TREASURY US TREASURY US TREASURY N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 1 ,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,080,000.00 2,000,000.00 3,000,000.00 5,000,000.00 2,000,000.00 4,000,000.00 4.350% 4.125% 4.250% 4.000% 4.125% 0.000% 0.000% 0.000% 0.000% 0.000% 1,031,080.00 2,049,060.00 1 ,024,930.00 2,038,020.00 2,124,168.80 1 ,996,693.33 2,996,799.17 4,994,866.67 1,997,315.00 3,995,860.00 2.43% 2.71% 2.81% 2.92% 2.92% 0.32% 0.23% 0.24% 0.27% 0.23% 41 ,420.00 98,752.50 50,861.67 107,313.33 112,177.87 3,306.67 3,200.83 5,133.33 2,685.00 4,140.00 1 ,072,500.00 2,147,812.50 1,075,791.67 2,145,333.33m 2,236,346.67^ 2,000,000.00'-'3,ooo,ooo.ooS S.OOO.OOO.OO""1 2,000,000.00°^ 4,000,000.00 City of Carlsbad TRANSACTIONS FOR PERIOD: 10/01/09 TO 10/31/09 Trans Investment Maturity Date Date Date TOTAL SECOND QUARTER 2009-2010 CALLS and / or SALES OCTOBER Type 2ND QUARTER 2009-2010 10/05/2007 10/29/2007 10/19/2007 03/05/2008 07/29/2009 11/28/2007 12/06/2007 10/05/2011 10/15/2012 10/19/2011 10/27/2011 07/29/201 1 10/30/2012 10/30/2012 FA FA FA FA FA FA FA FHLB FHLMC FHLB FHLB FHLB FNMA FNMA TOTAL SECOND QUARTER 2009-2010 Call Date 10/05/2009 10/15/2009 10/19/2009 10/27/2009 10/29/2009 10/30/2009 10/30/2009 Par Value 46,580,000.00 2,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 5,000,000.00 3,000,000.00 2,000,000.00 Coupon 4.900% 5.050% 5.000% 5.300% 0.500% 5.000% 5.000% 18,000,000.00 Amount (Cost) 46,799,728.25 2,000,000.00 1,006,875.00 3,000,000.00 2,085,000.00 5,000,000.00 3,033,000.00 2,030,000.00 Return Rate 1 .45% 4.90% 4.89% 5.00% 4.03% 1.71% 4.75% 4.65% Interest 1,251,722.58 392,000.00 243,661.11 600,000.00 301,311.11 171,875.00 705,333.33 460,000.00 Investment Return 48,051,450.83 2,392,000.00 1,250,536.11 3,600,000.00 2,386,311.11 5,171,875.00 3,738,333.33 2,490,000.00 18,154,875.00 3.88%2,874,180.55 21,029,055.55 INVESTMENT REPORT AS OF OCTOBER 31, 2009 INVESTMENT DATE 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 10/13/2009 06/01/2009 05/05/2008 04/22/2009 " 06/03/2009 TYPI 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 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 FNMA3.625% 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 .35% CALL 4/13/10 FHLB 1.25% NON-CALL FHLB 4.375% NON-CALL FHLB 1.125% NON-CALL FHLB 4.375% NON-CALL PAR VALUE 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 2,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 INVESTED AMOUNT 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 2,000,000.00 2,014,960.00 1,032,893.26 3,000,000.00 2,101,180.00 RETURN RATE 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% 0.550% 0.700% 2.980% 1.125% 0.701% INTEREST 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 1 1 ,000.00 19,276.11 74,901.88 50,625.00 20,104.72 INVESTMENT RETURN 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 2,011,000.00 2,034,236.11 1,107,795.14 3,050,625.00 2,121,284.72 TERM (Days) 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 1,083 365 500 900 548 506 xini—i DO INVESTMENT REPORT AS OF OCTOBER 31, 2009 INVESTMENT DATE TYPE SECURITY 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 FHLMC4.50% 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 FAMCA 5.5% 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 10/01/2009 FA FHLB 1.375% NON-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 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 10/19/2009 FA TVA 6.790% NON-CALL 07/22/2009 FA FHLB 1.90% QRTLY CALL 07/25/2007 FA FHLB 5.375% NON-CALL 07/25/2007 FA FHLB 5.375% NON-CALL 07/15/2008 FA FHLB 4.375% NON-CALL 10/20/2009 FA FFCB 2.125% NON-CALL PAR VALUE 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 1,000,000.00 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 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 3,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 3,000,000.00 INVESTED AMOUNT 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 1,006,100.00 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 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 3,399,498.48 999,250.00 1,005,040.00 1 ,005,254.43 3,050,958.11 3,049,023.21 RETURN RATE 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 .375% 4.800% 1.818% 1 .430% 1 .490% 4.773% 4.730% 1.958% 4.390% 4.720% 4.795% 1.630% 5.000% 5.000% 5.006% 5.015% 2.047% 5.235% 1.534% 1 .927% 5.255% 5.250% 3.900% 1.496% INTEREST 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 19,261.11 648,148.33 49,313.89 27,283.33 100,323.75 432,911.11 640,148.00 53,868.89 522,075.00 647,473.00 672,403.75 167,200.00 500,000.00 750,000.00 246,979.17 489,057.50 (1,786,500.00) 524,632.22 128,989.85 54,741.66 256,692.64 256,478.21 460,552.31 120,622.62 INVESTMENT RETURN 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 1,025,361.11 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 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 3,528,488.33 1,053,991.66 1,261,732.64 1,261,732.64 3,511,510.42 3,169,645.83 TERM (Days) 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 1,163 836 795 821 758 673 1,610 934 695 794 1,649 1,639 959 1,416 1,665 1,705 932 1,827 1,827 1,802 1,788 1,004 1,764 947 1,038 1,780 1,780 1,424 972 INVESTMENT REPORT AS OF OCTOBER 31, 2009 INVESTMENT DATE TYPE SECURITY 06/22/2009 FA FHLB 1.50% CALL Quarterly 10/19/2009 FA FFCB 1.55% CALL 10/19/10 12/10/2007 FA FHLB 5.58% CALL 7/20/10 08/05/2008 FA FFCB 3.950% NON-CALL 08/12/2009 FA FHLB 2.0% CALL 7/27/10 10/27/2009 FA FNMA 1.70% CALL 10/27/10 07/30/2007 FA FHLB 5.52% CALL 7/30/10 07/21/2009 FA FHLB 2.0% CALL 2/10/10 08/13/2008 FA FHLB 4.35% CALL 8/13/10 08/13/2009 FA FHLMC 2.25% CALLI 11/13/09 01/29/2009 FA FHLB 4.625% NON-CALL 02/27/2009 FA FNMA 2.625% CALL 8/27/10 09/04/2009 FA FNMA 2.50% CALL 9/7/10 03/12/2009 FA FHLMC 2.0% CALL 3/12/10 05/05/2008 FA FHLB 5.00% NON-CALL 08/22/2008 FA FHLB 4.5% NON-CALL 10/01/2009 FA FFCB 1.80% NON-CALL 09/28/2009 FA FHLB 1.0% CALL Qrtly 05/11/2009 FA FHLMC 3.875% NON-CALL 12/10/2007 FA FFCB 4.5% NON-CALL 10/22/2007 FA FHLB 5.00% CALL 4/22/10 06/03/2008 FA FNMA 6.41% NON-CALL 05/19/2009 FA FNMA 2.2% CALL 5/19/10 12/21/2007 FA FHLMC 4.375% CALL 12/21/09 12/21/2007 FA FHLMC 4.375% CALL 12/21/09 01/23/2008 FA FHLB 4.7% CALL 1/7/10 01/14/2008 FA FHLB 4.25% CALL 10/14/08 10/20/2009 FA FFCB 5.15% NON-CALL 05/19/2009 FA FNMA 2.32% CALL 2/19/10 08/27/2009 FA FHLB 2.0% CALL 11/27/09 STEP 03/10/2008 FA FHLB 3.50% NON-CALL 08/26/2009 FA FHLMC 2.5% CALL 4/8/11 05/14/2008 FA FHLB 4.00% CALL 5/15/10 10/20/2009 FA FHLMC 4.25% NON-CALL 10/20/2009 FA FHLMC 4.0% NON-CALL 11/10/2008 FA FHLB 5.375% NON-CALL 08/13/2009 FA FHLB 4.25% NON-CALL 12/03/2008 FA FFCB 4.625% CALL 7/8/10 08/27/2008 FA FNMA 4.375% NON-CALL 08/21/2009 FA FHLMC 2.4% CALL 7/23/10 08/19/2009 FA FFCB 2.7% NON-CALL 11/12/2008 FA FHLB 4.0% NON-CALL 12/17/2008 FA FHLB 4.375% NON-CALL 10/19/2009 FA FFCB 5.350% NON-CALL 11/26/2008 FA FHLB 3.5% CALL 11/26/10 01/20/2009 FA FHLB 3.125% NON-CALL PAR VALUE 3,000,000.00 3,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 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 1,000,000.00 3,000,000.00 1 ,000,000.00 2,000,000.00 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 1 ,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 500,000.00 500,000.00 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 3,000,000.00 2,995,200.00 1,037,000.00 2,002,900.00 1 ,988,600.00 998,800.00 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 1,003,470.00 3,000,000.00 1,063,510.00 2,034,780.00 2,000,000.00 1,990,388.82 2,000,000.00 5,000,000.00 4,000,000.00 2,056,800.00 3,000,000.00 1,102,490.00 1 ,000,000.00 1,999,500.00 2,963,940.00 2,008,000.00 2,000,000.00 536,967.86 532,794.50 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 2,235,072.36 2,000,000.00 2,047,941.08 RETURN RATE 2.239% 1.610% 4.677% 3.910% 2.200% 1.745% 5.520% 2.090% 4.357% 2.250% 2.391% 2.625% 2.500% 2.710% 3.640% 3.889% 1.680% 2.357% 1 .928% 4.100% 5.000% 3.890% 2.200% 4.675% 4.675% 4.061% 4.250% 1 .926% 2.320% 2.945% 3.765% 2.384% 4.000% 2.100% 2.120% 3.800% 2.450% 3.983% 3.970% 2.518% 2.550% 3.818% 2.625% 2.264% 4.361% 2.600% INTEREST 202,500.00 132,675.00 220,300.00 310,466.67 129,733.33 47,950.00 488,520.00 120,500.00 348,500.00 67,500.00 176,901.11 183,750.00 150,416.67 190,000.00 192,237.89 160,020.00 50,180.00 213,750.00 67,701.81 401,970.00 500,000.00 331,405.40 154,000.00 1,168,750.00 935,000.00 409,022.22 637,500.00 67,316.94 87,000.00 208,000.00 560,476.67 172,833.33 320,000.00 39,296.03 40,094.39 181,163.02 195,081.41 371,823.06 392,177.78 197,066.67 102,330.12 184,776.67 259,712.78 193,522.08 440,000.00 258,135.31 INVESTMENT RETURN 3,202,500.00 3,127,875.00 1,257,300.00 2,313,366.67 2,118,333.33 1,046,750.00 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 1,053,650.00 3,213,750.00 1,131,211.81 2,436,750.00 2,500,000.00 2,321,794.22 2,154,000.00 6,168,750.00 4,935,000.00 2,465,822.22 3,637,500.00 1,169,806.94 1,087,000.00 2,207,500.00 3,524,416.67 2,180,833.33 2,320,000.00 576,263.89 572,888.89 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 2,428,594.44 2,440,000.00 2,306,076.39 TERM (Days) 1,096 1,004 1,684 1,448 1,080 1,004 1,827 1,116 1,461 1,096 1,294 1,277 1,099 1,280 1,593 1,484 1,089 1,096 1,238 1,773 1,827 1,624 1,280 1,827 1,827 1,811 1,827 1,206 1,372 1,280 1,824 1,321 1,826 1,310 1,331 1,677 1,401 1,678 1,785 1,432 1,461 1,759 1,731 1,463 1,826 1,788 INVESTMENT REPORT AS OF OCTOBER 31,2009 INVESTMENT DATE 02/12/2009 05/14/2009 10/20/2009 08/27/2009 09/24/2009 06/01/2009 06/01/2009 03/12/2009 02/11/2009 02/18/2009 02/25/2009 03/02/2009 03/02/2009 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 \ 09/02/2009 TYPI FA FA FA FA FA 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 SECURITY FNMA2.00% CALL 2/12/10 FNMA 2.0% CALL 8/14/09 FFCB 4.375% NON-CALL FHLB 3.0% CALL 1 1/27/09 STEP FNMA 2.0% CALL 9/23/1 1 STEP SUB-TOTAL 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 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% US TREASURY 1 .50% PAR VALUE 2,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 279,511,000.00 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 13,000,000.00 292,511,000.00 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 5,000,000.00 INVESTED AMOUNT 2,000,000.00 2,000,000.00 3,234,480.00 3,000,000.00 3,000,000.00 284,740,366.77 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 12,195,673.00 296,936,039.77 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 5,062,500.00 RETURN RATE 3.500% 2.000% 2.595% 3.951% 3.163% 3.112% 0.274% 0.386% 2.200% 2.300% 2.710% 2.850% 3.000% 3.050% 2.132% 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% 0.419% INTEREST 355,000.00 320,000.00 381,665.83 600,000.00 479,833.33 28,567,162.40 2,760.00 2,670.56 43,630.00 110,760.00 83,286.44 173,720.00 181,320.00 206,180.00 804,327.00 29,371,489.40 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 24,524.46 INVESTMENT RETURN 2,355,000.00 2,320,000.00 3,616,145.83 3,600,000.00 3,479,833.33 313,307,529.17 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 13,000,000.00 326,307,529.17 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 5,087,024.46 TERM (Days) 1,826 1,826 1,714 1,826 1,825 1,156 184 253 744 908 1,178 1,171 1,166 1,314 865 2,021 192 167 154 179 162 220 182 182 240 193 255 293 221 299 343 314 282 344 405 390 287 421 318 435 424 INVESTMENT REPORT AS OF OCTOBER 31, 2009 INVESTMENT DATE 10/01/2009 10/19/2009 10/19/2009 10/28/2009 09/24/2009 10/28/2009 09/02/2009 11/10/2008 11/12/2008 03/02/2009 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 N 05/12/2009 TYPE TR TR TR TR 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 SECURITY US TREASURY 0.875% US TREASURY 0.875% US TREASURY 0.875% US TREASURY 0.875% US TREASURY 1.1250% US TREASURY 1.1250% US TREASURY 1.25% US TREASURY 3.125% US TREASURY 3.125% SUB-TOTAL WELLS FARGO BANK 9218910637 SUB-TOTAL 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-CAtL 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-CAL GENERAL ELECTRIC 5.50% CALL 11/15/08 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 PAR VALUE 3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 4,000,000.00 3,000,000.00 5,000,000.00 1,000,000.00 1,000,000.00 101,000,000.00 33,000.00 33,000.00 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 INVESTED AMOUNT 3,014,531.25 3,012,656.25 3,011,718.75 3,008,320.31 4,018,593.75 3,018,398.44 5,048,828.13 1,031,328.00 1,030,781.25 102,102,236.42 33,000.00 33,000.00 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 RETURN RATE 0.509% 0.544% 0.587% 0.699% 0.859% 0.755% 0.461% 2.430% 2.452% 0.460% 0.900% 0.900% 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% INTEREST 20,421.20 21,012.23 24,103.07 33,421.49 60,889.95 38,096.13 28,869.96 118,792.86 121,777.13 709,008.41 620.00 620.00 121,014.34 122,750.52 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 INVESTMENT RETURN 3,034,952.45 3,033,668.48 3,035,821.82 3,041,741.80 4,079,483.70 3,056,494.57 5,077,698.09 1,150,120.86 1,152,558.38 102,811,244.83 33,620.00 33,620.00 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 TERM (Days) 487 469 497 580 644 610 454 1,755 1,783 417 365 365 716 715 646 519 818 973 834 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 INVESTMENT REPORT AS OF OCTOBER 31, 2009 INVESTMENT DATE 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 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 TYPI CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN O O O O O O O O SECURITY BARCLAYS BANK 2.7% NON-CALL BERKSHIRHATWY 4.00% 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 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 LL LL kLL :ALL :ALL ML I-CALL -CALL -CALL % NON-CAL % NON-CAL 1 LL \LL SUB-TOTAL r ACCOUNT RPORATION 'RATION SUB-TOTAL PAR VALUE 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 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 1,000,000.00 104,631,080.00 378,368.00 2,498,317.97 733.42 (37,457.38) 11,085,000.00 3,501,038.82 4,941,060.45 16,274,570.40 38,641,631.68 INVESTED AMOUNT 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 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 1,003,190.00 106,703,529.59 378,368.00 2,498,317.97 733.42 (37,457.38) 1 1 ,085,000.00 3,501,038.82 4,941,060.45 16,274,570.40 38,641,631.68 RETURN RATE 2.330% 3.200% 3.300% 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% 4.195% 0.100% 0.100% 0.000% 0.150% 0.630% 0.630% 0.630% 0.630% 0.591% INTEREST 104,626.16 96,769.38 198,882.22 178,375.00 253,896.02 189,541.49 605,158.33 237,753.83 484,836.30 449,799.83 205,539.76 251 ,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 17,937,463.31 1.04 6.84 - (0.16) 193.99 61.27 86.47 284.80 634.25 INVESTMENT RETURN 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 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 1,158,755.56 124,640,992.90 378,369.04 2,498,324.81 733.42 (37,457.54) 11,085,193.99 3,501,100.09 4,941,146.92 16,274,855.20 38,642,265.93 TERM (Days) 1,035 1,090 1,088 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 1,343 1 1 1 1 1 1 1 1 GRAND TOTAL 536,816,711.68 544,416,437.46 2.626% 18,899,575.61 592,435,652.83 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF OCTOBER 31, 2009 Cash Balance by Fund: General 57,533,024 Special Revenue 46,272,377 Debt Service 5,509,570 Capital Projects: General Capital Construction 65,241,969 Traffic Impact Fees 17,421,676 Public Facilities Fees 43,299,130 Park Development 2,332,052 Transnet Taxes 6,193,549 Drainage Fees 8,277,108 Special Districts 74,026,164 Infrastructure Replacement 53,514,671 Other Capital Construction 856,794 Total 271,163,112 Enterprise: Carlsbad Municipal Water District 64,434,155 Sewer Fund 50,801,928 Solid Waste 7,040,176 Storm Water 2,044,281 Golf Course 256,457 Total 124,576,997 Internal Service 26,908,626 Agency Funds 11,918,455 Redevelopment Funds (1) 0 Misc. Special Funds 0 Total General Ledger Balance ** 543,882,163 Reconciling Adjustments (2) (2,307,243) Total Treasurer's Investment Portfolio at Amortized Cost 541,574,919 (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 11/0609 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of October 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 AAA AA2 AA1 AA3 AA2 AAA AAA AA AA+ AAA AA- AAA AA- AA- AAA 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 SUNTRUST BANK 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. Moodv'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 2,016,758 11,038,391 2,009,278 1,007,128 2,993,038 1,000,000 3,000,000 5,067,059 Market Value 2,147,320 11,378,960 2,050,340 1,022,110 3,133,950 1,025,690 2,930,700 5,199,420 17 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF OCTOBER 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 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 25,459,584.89 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 42,076,605.45 2,994,569.44 143,985,353.78 52,086,793.66 34,192,298.08 5,530,478.48 102,102,236.42 Percent of Portfolii 0.37% 0.29% 1.50% 0.57% 2.02% 4.68% 0.37% 0.19% 0.55% 0.19% 0.74% 0.37% 0.18% 0.96% 0.55% 0.20% 0.38% 0.39% 1 .76% 0.54% 1 .86% 0.95% Percent of Portfolio** 1.26% 1 .69% 7.73% 0.55% 26.45% 9.57% 6.28% 1 .02% 18.75% $544,416,437.46