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HomeMy WebLinkAbout2009-12-22; City Council; 20079; Report on City Investments as of 11/30/09CITY OF CARLSBAD - AGENDA BILL AB# 20,079 MTG. 12/22/09 | REPORT ON CITY INVESTMENTS AS OF NOVEMBER 30, 2009 DEPT. TRS DEPT. HEAD -tff/f CITY ATTY. ' rf^- CITY MGR. 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 November 30, 2009 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1) Market Value (2) Current Month 532,270,584 539,991,457 537,091,922 548,043,541 Prior Month 536,816,712 544,416,437 541,574,919 551,485,530 (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 11/30/09. 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) Special RevenueGeneral $55.3 46.3 Capital Projects $270 Other $2.2 Internal Service $27 Age"C> $12.1 Enterprise $124.2 Total Treasurer's Investment Portfolio at Amortized Cost November 30, 2009 $537.1 million FOR CITY CLERKS USE ONLY. COUNCIL ACTION: APPROVED D DENIED D CONTINUED D WITHDRAWN D AMENDED D CONTINUED TO DATE SPECIFIC CONTINUED TO DATE UNKNOWN RETURNED TO STAFF OTHER - SEE MINUTES Council accepted tbe report. D D D D DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan@carlsbadca.qov PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF NOVEMBER 30. 2009 Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 8,549,552 Prior Month FYTD 7,165,824 Current Month Income 1,383,728 The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement September 2009 October 2009 November 2009 Average Life (Years) 1.59 1.62 1.62 Average Yield To Maturity 2.73% 2.63% 2.58% Modified Duration 1.503 1.537 1 .539 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 NOVEMBER 30, 2009 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS AVERAGE YIELD Class CD FN CP TR FA CN LAIF CUSTODY SWEEP BANKACCT Current Month 33,000 12,398,785 0 108,744,432 274,835,443 106,004,758 32,739,670 205 1,905,593 430,036 Prior Month Current Month 33,000 33,000 12,376,655 0 101,727,604 282,737,784 106,058,244 35,801,670 (37,457) 2,498,318 379,101 •12,641,440 0 108,974,200 281,324,302 109,995,095 32,739,670 205 1,905,593 430,036 Cash Income Prior Month Year to Date Current Month Prior Month 33,000 126 0.90 0.90 12,558,790 0 101,844,870 288,698,260 109,708,978 35,801,670 (37,457) 2,498,318 379,101 0 0 335,733 5,167,149 2,510,314 535,414 34 781 0 2.13 0.00 0.47 3.06 4.20 0.63 0.07 0.10 0.10 2.13 0.00 0.46 3.11 4.20 0.63 0.15 0.10 0.10 TOTALS $537,091,922 $541,574,919 $548,043,541 $551,485,530 $8,549,552 2.58%2.63% 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 co CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF NOVEMBER 30, 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 44,571,593 34,167,755 6,095,293 32,739,670 205 1,905,593 430,036 $122,937,714 (1) 22.8% Year 7 MONTHS TO 1 YEAR 0 0 0 34,444,544 50,274,200 15,077,602 0 0 0 0 $99,796,346 (1) 18.5% $222,734,060 (1) 1 TO 5 YEARS 0 9,201,104 0 30,215,117 192,310,542 85,530,635 0 0 0 0 $317,257,397 58.8% TOTAL 33,000 12,195,673 0 109,231,254 276,752,497 106,703,530 32,739,670 205 1,905,593 430,036 $539,991,457 100.0% % TOTAL 0.0% 2.3% 0.0% 20.2% 51.3% 19.8% (2) 6.1% 0.0% 0.4% 0.1% 100.0% 41.3% 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. xrei—i CO ro YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1996 - NOVEMBER 2009 MARKET YIELD CURVE 6/30/08, 6/30/09, 11/30/09 Market Rates 3Mth 2Yr 5Yr 3Mth 2Yr 5Yr 10 Yr —06/30/2008 -*- 06/30/2009 ^•11/30/2009 1.73 .18 .05 2.62 1.11 .66 3.33 2.56 2.00 3.97 3.53 3.20 10 Yr Xrei—i DO Cumulative Millions $ Cumulative Cash Income FY09-10 (November 2009) 20 18 16 14 12 10 8 1.99 Monthly Interest Income Millions $ 1.61 1.6 1.38 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun ciz] Interest Income -•*--Budget Actual 8 7 6 5 4 3 2 1 0 Xn:i—i COi—i—\ on City of Carlsbad TRANSACTIONS FOR PERIOD: 10/01/09 TO 10/31/09 2ND QUARTER 2009-2010 Trans Investment 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 NOVEMBER 11/05/2009 11/05/2009 11/03/2009 11/05/2009 11/05/2009 11/23/2009 11/23/2009 11/23/2009 11/23/2009 11/23/2009 11/23/2009 11/23/2009 11/24/2009 11/24/2009 11/24/2009 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 11/05/2009 11/06/2009 11/17/2009 11/17/2009 11/25/2009 11/24/2009 11/24/2009 11/24/2009 11/24/2009 11/24/2009 11/24/2009 11/24/2009 11/25/2009 11/25/2009 11/25/2009 Maturity Date 01/31/2011 08/05/2011 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 07/30/2014 06/29/2012 05/17/2013 08/17/2012 02/25/2013 09/23/2010 05/20/2010 08/26/2010 10/31/2010 11/30/2010 06/30/2011 08/31/2011 03/15/2013 06/21/2012 09/24/2012 Type TR FA FA FA TR FA FA FA TR FA FA FA FA FA FA TR TR FA FA FA FA FA TR TR TR TR TR TR TR FA FA FA Security US TREASURY FHLB FFCB FHLB US TREASURY TVA FFCB FFCB US TREASURY FFCB FFCB FHLMC FHLMC FFCB FNMA US TREASURY US TREASURY FNMA FHLMC FHLB FHLB FHLB US TREASURY DISCOUN US TREASURY DISCOUN US TREASURY DISCOUN US TREASURY US TREASURY US TREASURY US TREASURY FHLB FFCB FFCB 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 07/30/2010 06/29/2010 02/17/2010 08/17/2010 08/25/2010 N/A N/A N/A N/A N/A N/A N/A 09/15/2010 N/A N/A TOTAL SECOND QUARTER 2009-2010 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 1,100,000.00 1,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 3,000,000.00 4,000,000.00 2,000,000.00 3,000,000.00 4,000,000.00 5,000,000.00 1 ,000,000.00 2,000,000.00 3,000,000.00 72,100,000.00 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% 3.300% 2.450% 1.125%STEP 1 .750% 2.000% 0.000% 0.000% 0.000% 1 .500% 1 .250% 1.125% 1 .000% 2.350% 5.450% 1 .800% 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 1,110,340.00 1,011,600.00 2,000,000.00 2,000,000.00 999,531.25 1,996,801.67 2,998,156.25 3,994,500.00 2,023,125.00 3,029,179.69 4,037,343.75 5,031,445.31 1,009,500.00 2,210,347.28 3,032,750.01 73,644,141.62 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% 3.084% 1 .997% 3.297% 1 .750% 2.015% 0.193% 0.127% 0.183% 0.259% 0.291% 0.538% 0.641% 2.051% 1 .280% 1 .405% 0.643% Interest 20,421.20 19,261.11 50,180.00 11,000.00 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 1 1 ,005.43 161,580.83 53,256.94 235,000.00 96,250.00 65,468.75 3,198.33 1,843.75 5,500.00 4,886.05 8,935.06 34,680.71 56,814.36 68,180.56 70,024.94 120,099.99 2,305,594.25 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 1,271,920.83 1,064,856.94 2,235,000.00 2,096,250.00 1,065,000.00 2,000,000.00 3,000,000.00 4,000,000.00 2,028,011.05 3,038,114.75 4,072,024.46 5,088,259.67 1,077,680.56 2,280,372.22 3,152,850.00 75,949,735.87 X MATURITIES 5 OCTOBER X\ 11/01/2007 03/19/2007 03/05/2008 01/22/2008 10/27/2009 10/02/2009 10/23/2009 10/28/2009 CN FA FA FA GENERAL ELECTRIC FHLB FFCB FNMA N/A NA NA NA 2,000,000.00 3,000,000.00 2,000,000.00 500,000.00 5.250% 5.00% 5.00% 4.00% 2,030,120.00 3,014,820.00 2,090,620.00 508,645.00 4.450% 4.790% 2.160% 2.986% 178,713.33 365,596.67 72,713.33 26,688.33 COi — i 2,208,833.33 -" 3,380,416.67 <* 2,163,333.33 535,333.33 City of Carlsbad TRANSACTIONS FOR PERIOD: 10/01/09 TO 10/31/09 2ND QUARTER 2009-2010 Trans Investment Date Date 10/23/2008 06/18/2009 06/18/2009 06/05/2009 NOVEMBER 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 Maturity Date Type 10/01/2009 10/15/2009 10/22/2009 10/29/2009 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 FN TR TR TR FA FA FA FA FA TR TR TR TR TR Security FHLBN US TREASURY US TREASURY US TREASURY FFCB FFCB FHLB FNMA FHLMC US TREASURY US TREASURY US TREASURY US TREASURY US TREASURY Call Date NA NA NA NA N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A TOTAL SECOND QUARTER 2009-2010 Par Value 3,000,000. 5,000,000. 4,000,000. 3,000,000. 1,000,000. 2,000,000. 1,000,000. 2,000,000. 2,080,000. 2,000,000. 3,000,000. 5,000,000. 2,000,000. 4,000,000. 46,580,000. 00 00 00 00 00 00 00 00 00 00 .00 .00 .00 .00 .00 Coupon 0.00% 0.00% 0.00% 0.00% 4.350% 4.125% 4.250% 4.000% 4.125% 0.000% 0.000% 0.000% 0.000% 0.000% Amount (Cost) 2,914,250.00 4,997,190.28 3,997,480.00 2,997,810.00 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 46,799,728.25 Return Rate 3.109% 0.172% 0.183% 0.183% 2.43% 2.71% 2.81% 2.92% 2.92% 0.32% 0.23% 0.24% 0.27% 0.23% 1 .45% Interest 171,500.00 2,809.72 2,520.00 2,190.00 - 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 1,251,722.58 Investment Return 3,085,750.00 5,000,000.00 4,000,000.00 3,000,000.00 1,072,500.00 2,147,812.50 1,075,791.67 2,145,333.33 2,236,346.67 2,000,000.00 3,000,000.00 5,000,000.00 2,000,000.00 4,000,000.00 48,051,450.83 CALLS and / or SALES OCTOBER 10/05/2007 10/05/2011 FA FHLB 10/29/2007 10/15/2012 FA FHLMC 10/19/2007 10/19/2011 FA FHLB 03/05/2008 10/27/2011 FA FHLB 07/29/2009 07/29/2011 FA FHLB 11/28/2007 10/30/2012 FA FNMA 12/06/2007 10/30/2012 FA FNMA NOVEMBER 08/13/2009 08/13/2012 FA FHLMC 09/21/2009 08/17/2011 FA FHLMC 11/20/2007 05/20/2011 FA FHLB 01/28/2008 05/20/2011 FA FHLB 08/27/2009 08/27/2014 FA FHLB 08/27/2009 02/27/2013 FA FHLB 07/22/2009 05/25/2012 FA FHLB TOTAL SECOND QUARTER 2009-2010 10/05/2009 10/15/2009 10/19/2009 10/27/2009 10/29/2009 10/30/2009 10/30/2009 11/13/2009 11/17/2009 11/20/2009 11/20/2009 11/27/2009 11/27/2009 11/27/2009 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 1,000,000.00 1,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 4.900% 5.050% 5.000% 5.300% 0.500% 5.000% 5.000% 2.250% 1 .500% 4.500% 4.500% 3% STEP 2% STEP 1 .900% 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 1,000,000.00 1,001,300.00 2,016,000.00 3,078,630.00 3,000,000.00 1,999,500.00 999,250.00 4.90% 4.89% 5.00% 4.03% 1.71% 4.75% 4.65% 2.25% 1.43% 4.25% 3.65% 3.95% 2.95% 1 .93% 392,000.00 243,661.11 600,000.00 301,311.11 171,875.00 705,333.33 460,000.00 67,500.00 27,283.33 299,000.00 368,370.00 600,000.00 208,000.00 54,741.66 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 1,067,500.00 1,028,583.33 2,315,000.00 3,447,000.00 3,600,000.00 2,207,500.00 1,053,991.66 31,000,000.00 31,249,555.00 3.64% 4,499,075.54 35,748,630.54 INVESTMENT REPORT AS OF NOVEMBER 30, 2009 INVESTMENT DATE 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 06/01/2009 06/03/2009 12/23/2008 12/05/2008 02/20/2008 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 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 .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 FHLB 1.050% NON-CALL FHLB 1.050% NON-CALL FHLB 1.70% CALL 12/30/09 FHLMC 4.50% NON-CALL FHLB 2.875% NON-CALL PAR VALUE 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 2,000,000.00 2,000,000.00 1,000,000.00 3,000,000.00 3,000,000.00 INVESTED AMOUNT 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 2,008,660.00 2,007,180.00 1,000,000.00 3,119,880.00 2,993,378.76 RETURN RATE 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% 2786% 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% 0.750% 0.800% 1.700% 2.470% 2.950% INTEREST 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 11,000.00 19,276.11 74,901.88 50,625.00 20,104.72 21,906.67 23,270.00 34,000.00 154,245.00 270,402.49 INVESTMENT RETURN 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 2,030,566.67 2,030,450.00 1,034,000.00 3,274,125.00 3,263,781.25 TERM (Days) 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 1,083 365 500 900 548 506 532 530 737 741 1,115 xn:i—i CO INVESTMENT REPORT AS OF NOVEMBER 30, 2009 INVESTMENT DATE TYPE SECURITY 06/03/2009 FA FNMA 2.050% CALL 4/1/10 05/11/2009 FA FHLB 1.375% NON-CALL 05/12/2009 FA FNMA 1.45% CALL 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 FAMCA 5.50% NON-CALL 08/31/2007 FA FAMCA 5.50% 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 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 WA 6.790% NON-CALL 10/19/2009 FA TVA 6.790% NON-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 11/25/2009 FA FFCB 5.45% NON-CALL 06/22/2009 FA FHLB 1.50% CALL Quarterly 11/06/2009 FA FHLMC 2.45% CALL 6/29/10 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 PAR VALUE 2,000,000.00 1,000,000.00 1,000,000.00 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 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 3,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 1,000,000.00 3,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1,770,000.00 INVESTED AMOUNT 2,024,200.00 1,001,350.00 1,000,000.00 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 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 1,005,040.00 1,005,254.43 3,050,958.11 3,049,023.21 2,210,347.28 3,000,000.00 1,011,600.00 2,995,200.00 1,037,000.00 2,002,900.00 1,988,600.00 998,800.00 1,770,000.00 RETURN RATE 1.377% 1.305% 1 .450% 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 .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% 5.255% 5.250% 3.900% 1.496% 1 .280% 2.239% 1.997% 1.610% 4.677% 3.910% 2.200% 1.745% 5.520% INTEREST 50,738.89 25,653.47 (891,000.00) 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 49,313.89 100,323.75 432,911.11 640,148.00 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) 524,632.22 128,989.85 256,692.64 256,478.21 460,552.31 120,622.62 70,024.94 202,500.00 53,256.94 132,675.00 220,300.00 310,466.67 129,733.33 47,950.00 488,520.00 INVESTMENT RETURN 2,074,938.89 1,027,003.47 109,000.00 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 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 1,261,732.64 1,261,732.64 3,511,510.42 3,169,645.83 2,280,372.22 3,202,500.00 1,064,856.94 3,127,875.00 1,257,300.00 2,313,366.67 2,118,333.33 1,046,750.00 2,258,520.00 TERM (Days) 667 717 730 711 1,379 1,128 996 1,588 1,444 1,414 1,163 836 795 821 758 673 1,610 934 794 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 1,780 1,780 1,424 972 939 1,096 966 1,004 1,684 1,448 1,080 1,004 1,827 INVESTMENT REPORT AS OF NOVEMBER 30, 2009 INVESTMENT DATE 07/21/2009 08/13/2008 01/29/2009 11/17/2009 02/27/2009 09/04/2009 03/12/2009 05/05/2008 08/22/2008 10/01/2009 11/25/2009 09/28/2009 05/11/2009 12/10/2007 10/22/2007 06/03/2008 05/19/2009 12/21/2007 12/21/2007 01/23/2008 01/14/2008 10/20/2009 11/25/2009 05/19/2009 03/10/2008 11/25/2009 08/26/2009 05/14/2008 11/17/2009 10/20/2009 10/20/2009 11/10/2008 08/13/2009 12/03/2008 08/27/2008 08/21/2009 08/19/2009 11/12/2008 12/17/2008 10/19/2009 1 1/26/2008 01/20/2009 02/12/2009 05/14/2009 10/20/2009 ^ 11/05/2009 TYPE FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA SECURITY FHLB 2.0% CALL 2/10/10 FHLB4.35% CALL 8/13/10 FHLB 4.625% NON-CALL FHLB 1.75% CALL 8/17/10 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 FFCB 1.80% NON-CALL FFCB 1.80% NON-CALL FHLB 1.0% CALL Qrtly FHLMC 3.875% NON-CALL FFCB 4.5% NON-CALL FHLB 5.00% CALL 4/22/10 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 FFCB 5.15% NON-CALL FHLB 2.0% CALL 8/25/10 FNMA 2.32% CALL 2/19/10 FHLB 3.50% NON-CALL FHLB 2.35% CALL 9/15/10 FHLMC 2.5% CALL 4/8/11 FHLB 4.00% CALL 5/15/10 FHLB 1.125% CALL 2/17/10 QRTLY FHLMC 4.25% NON-CALL FHLMC 4.0% NON-CALL 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 FFCB 5.350% NON-CALL FHLB 3.5% CALL 11/26/10 FHLB 3.125% NON-CALL FNMA 2.00% CALL 2/12/10 FNMA 2.0% CALL 8/14/09 FFCB 4.375% NON-CALL FNMA 3.3% CALL 7/30/10 PAR VALUE 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 1,175,000.00 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 1,807,000.00 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 1,000,000.00 3,000,000.00 1,000,000.00 2,000,000.00 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 2,000,000.00 2,000,000.00 3,000,000.00 1,100,000.00 INVESTED AMOUNT 1,999,500.00 1,999,500.00 2,150,960.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,238,814.19 1,022,730.00 1,003,470.00 3,032,750.01 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 1,102,490.00 999,531.25 1,000,000.00 2,963,940.00 1,009,500.00 2,008,000.00 2,000,000.00 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 2,000,000.00 2,000,000.00 3,234,480.00 1,110,340.00 RETURN RATE 2.090% 4.357% 2.391% 1.750% 2.625% 2.500% 2.710% 3.640% 3.889% 1 .680% 1.405% 2.357% 1.928% 4.100% 5.000% 3.890% 2.200% 4.675% 4.675% 4.061% 4.250% 1 .926% 2.015% 2.320% 3.765% 2.051% 2.384% 4.000% 3.297% 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% 3.500% 2.000% 2.595% 3.084% INTEREST 120,500.00 348,500.00 176,901.11 96,250.00 183,750.00 150,416.67 190,000.00 192,237.89 160,020.00 50,180.00 120,099.99 213,750.00 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 65,468.75 87,000.00 560,476.67 68,180.56 172,833.33 320,000.00 235,000.00 39,296.03 40,094.39 181,163.02 195,081.41 371,823.06 392,177.78 197,066.67 102,330.12 184,776.67 259,712.78 193,522.08 440,000.00 258,135.31 355,000.00 320,000.00 381,665.83 161,580.83 INVESTMENT RETURN 2,120,000.00 2,348,000.00 2,327,861.11 2,096,250.00 2,183,750.00 2,150,416.67 2,190,000.00 1,431,052.08 1,182,750.00 1,053,650.00 3,152,850.00 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 1,065,000.00 1,087,000.00 3,524,416.67 1,077,680.56 2,180,833.33 2,320,000.00 2,235,000.00 576,263.89 572,888.89 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 2,355,000.00 2,320,000.00 3,616,145.83 1,271,920.83 TERM (Days) 1,116 1,461 1,294 1,004 1,277 1,099 1,280 1,593 1,484 1,089 1,034 1,096 1,238 1,773 1,827 1,624 1,280 1,827 1,827 1,811 1,827 1,206 1,188 1,372 1,824 1,206 1,321 1,826 1,277 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 1,826 1,826 1,714 1,728 INVESTMENT REPORT AS OF NOVEMBER 30, 2009 INVESTMENT DATE 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 06/18/2009 06/18/2009 06/05/2009 07/22/2009 06/05/2009 05/1 1/2009 07/22/2009 06/05/2009 04/30/2009 06/05/2009 07/22/2009 11/24/2009 06/05/2009 04/21/2009 06/05/2009 09/16/2009 06/05/2009 09/16/2009 11/24/2009 11/24/2009 07/22/2009 09/02/2009 11/24/2009 09/02/2009 11/24/2009 10/01/2009 10/19/2009 10/19/2009 TYPE 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 TR TR TR TR SECURITY 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 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 00% 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 00% US TREASURY 00% US TREASURY 2.00% US TREASURY 1 .50% US TREASURY 1.50% US TREASURY 1 .25% US TREASURY 1.25% US TREASURY 0.875% US TREASURY 0.875% US TREASURY 0.875% PAR VALUE 3,000,000.00 271,531,000.00 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 13,000,000.00 284,531,000.00 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 2,000,000.00 3,000,000.00 2,000,000.00 4,000,000.00 2,000,000.00 3,000,000.00 5,000,000.00 2,000,000.00 5,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 INVESTED AMOUNT 3,000,000.00 276,752,496.51 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 12,195,673.00 288,948,169.51 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 2,998,156.25 3,114,140.63 3,069,492.19 3,076,875.00 2,040,781.25 3,077,578.13 2,042,343.75 3,994,500.00 1,996,801.67 3,052,031.25 5,062,500.00. 2,023,125.00 5,048,828.13 3,029,179.69 3,014,531.25 3,012,656.25 3,011,718.75 RETURN RATE 3.163% 3.059% 0.274% 0.386% 2.200% 2.300% 2.710% 2.850% 3.000% 3.050% 2.132% 0.340% 0.274% 0.294% 0.331% 0.262% 0.342% 0.411% 0.303% 0.369% 0.437% 0.382% 0.325% 0.127% 0.452% 0.529% 0.469% 0.282% 0.501% 0.317% 0.183% 0.193% 0.537% 0.419% 0.259% 0.461% 0.291% 0.509% 0.544% 0.587% INTEREST 479,833.33 27,401,604.05 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 28,205,931.05 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 1,843.75 13,155.57 17,911.66 15,331.49 4,531.25 17,684.30 5,631.79 5,500.00 3,198.33 19,444.16 24,524.46 4,886.05 28,869.96 8,935.06 20,421.20 21,012.23 24,103.07 INVESTMENT RETURN 3,479,833.33 304,154,100.56 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 13,000,000.00 317,154,100.56 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 3,000,000.00 3,127,296.20 3,087,403.85 3,092,206.49 2,045,312.50 3,095,262.43 2,047,975.54 4,000,000.00 2,000,000.00 3,071,475.41 5,087,024.46 2,028,011.05 5,077,698.09 3,038,114.75 3,034,952.45 3,033,668.48 3,035,821.82 TERM (Days) 1,825 1,173 184 253 744 908 1,178 1,171 1,166 1,314 865 2,038 220 182 182 240 193 255 293 221 299 343 314 282 177 344 405 390 287 421 318 275 303 435 424 341 454 371 487 469 497 INVESTMENT REPORT AS OF NOVEMBER 30, 2009 INVESTMENT DATE 10/28/2009 09/24/2009 10/28/2009 11/24/2009 11/24/2009 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 05/12/2009 05/05/2009 04/21/2009 TYPE 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 CN CN SECURITY US TREASURY 0.875% US TREASURY 1.1250% US TREASURY 1.1250% US TREASURY 1.1250% US TREASURY 1.00% 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-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-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 BARCLAYS BANK 2.7% NON-CALL BERKSHIRHATWY 4.00% NON-CALL PAR VALUE 3,000,000.00 4,000,000.00 3,000,000.00 4,000,000.00 5,000,000.00 1,000,000.00 1,000,000.00 108,000,000.00 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 1,575,000.00 1,000,000.00 INVESTED AMOUNT 3,008,320.31 4,018,593.75 3,018,398.44 4,037,343.75 5,031,445.31 1,031,328.00 1,030,781.25 109,231,253.92 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 1,590,861.34 1,022,563.95 RETURN RATE 0.699% 0.859% 0.755% 0.538% 0.641% 2.430% 2.452% 0.469% 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% 2.330% 3.200% INTEREST 33,421.49 60,889.95 38,096.13 34,680.71 56,814.36 118,792.86 121,777.13 806,400.84 620.00 620.00 121,014.34 122,750.52 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 1,483,867.09 676,360.93 409,960.65 187,485.39 104,626.16 96,769.38 INVESTMENT RETURN 3,041,741.80 4,079,483.70 3,056,494.57 4,072,024.46 5,088,259.67 1,150,120.86 1,152,558.38 110,037,654.76 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 1,695,487.50 1,119,333.33 TERM (Days) 580 644 610 583 645 1,755 1,783 445 365 365 716 715 646 519 818 973 834 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 1,035 1,090 INVESTMENT REPORT AS OF NOVEMBER 30, 2009 INVESTMENT DATE 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 TYPE CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN O O O 0 O 0 O O SECURITY BERKSHIRHATWY 4.00% 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 M_L CALL CALL ALL J-CALL I-CALL I-CALL ;% NON-CAL i% NON-CAL .L ,LL ALL SUB-TOTAL T ACCOUNT RPORATION )RATION SUB-TOTAL PAR VALUE 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 1,000,000.00 104,631,080.00 429,318.00 1,905,592.82 718.42 204.84 6,885,000.00 3,501,038.82 9,145,060.45 13,208,570.40 35,075,503.75 INVESTED AMOUNT 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 1,003,190.00 106,703,529.59 429,318.00 1,905,592.82 718.42 204.84 6,885,000.00 3,501,038.82 9,145,060.45 13,208,570.40 35,075,503.75 RETURN RATE 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% 0.070% 0.630% 0.630% 0.630% 0.630% 0.595% INTEREST 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 1.18 5.22 - 0.00 120.49 61.27 160.04 231.15 579.34 INVESTMENT RETURN 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 1,158,755.56 124,640,992.90 429,319.18 1,905,598.04 718.42 204.84 6,885,120.49 3,501,100.09 9,145,220.49 13,208,801.55 35,076,083.09 TERM (Days) 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 532,270,583.75 539,991,456.77 2.578% 18,996,913.13 586,942,451.31 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF NOVEMBER 30, 2009 Cash Balance by Fund: General 55,291,672 Special Revenue 46,262,000 Debt Service 5,743,550 Capital Projects: General Capital Construction 65,345,409 Traffic Impact Fees 17,395,066 Public Facilities Fees 43,386,900 Park Development 2,336,572 Transnet Taxes 6,054,725 Drainage Fees 8,106,332 Special Districts 73,252,860 Infrastructure Replacement 53,567,814 Other Capital Construction 565,917 Total 270,011,596 Enterprise: Carlsbad Municipal Water District 65,176,854 Sewer Fund 49,788,307 Solid Waste 7,030,272 Storm Water 1,957,908 Golf Course 258,876 Total 124,212,217 Internal Service 26,995,340 Agency Funds 12,144,996 Redevelopment Funds (1) 0 Misc. Special Funds 0 Total General Ledger Balance ** 540,661,370 Reconciling Adjustments (2) (3,569,448) Total Treasurer's Investment Portfolio at Amortized Cost 537,091,922 (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 12/0809 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of November 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 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 AAA AAA AA2 AAA AA1 AA AA2 AA+ AAA AAA AA2 AA- AAA AAA AA3 AA- AAA AA- AAA AAA AA2 AA- AA1 AA AA3 AA AA2 AA Commercial Paper Investments Meeting the Current Investment Policy: (Ratings must be A1/P1 or better by both Moody's and S&P) (Ratings of other debt must be AA or better by Moody's and S&P) NONE Investments with Subsequent Changes in Credit Rating * Carrying Moodv's S&P Purchased Value ALL STATE LIFE CITIGROUP GENWORTH GLOBAL GOLDMAN SACHS HOME DEPOT PRINCIPAL LIFE PROTECTIVE LIFE WELLS FARGO A1 AA- 05/30/2008 2,016,359 A3 A 06/20/2006 11,037,140 A2 A 05/07/2008 2,008,865 A1 A 03/19/2008 1,007,128 BAA1 BBB+ 06/12/2006 2,993,473 AA3 A+ 04/30/2008 1,000,000 A2 AA- 07/17/2008 3,000,000 A1 AA 01/30/2008 5,062,489 Market Value 2,155,800 11,356,880 2,056,460 1,020,070 3,129,540 1,032,570 2,957,190 5,202,440 * 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. 17 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF NOVEMBER 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.STREASURY 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 44,239,562.74 2,994,569.44 137,876,075.03 48,972,924.86 33,264,618.08 5,530,478.48 109,231,253.92 Percent of Portfolio 0.37% 0.29% 1.51% 0.57% 2.04% 4.71% 0.37% 0.19% 0.55% 0.19% 0.75% 0.37% 0.19% 0.97% 0.56% 0.20% 0.38% 0.39% 1.77% 0.55% 1.87% 0.96% Percent of Portfolio** 1 .27% 1 .70% 8.19% 0.55% 25.53% 9.07% 6.16% 1 .02% 20.23% $539,991,456.77