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HomeMy WebLinkAbout2010-03-23; City Council; 20157; Report on City Investments As of February 28, 2010CITY OF CARLSBAD - AGENDA BILL AB# MTG. DEPT. 20,157 3/23/10 TRS REPORT ON CITY INVESTMENTS AS OF FEBRUARY 28, 2010 DEPT. HEAD <fffl/ CITY ATTY. 7 dgfe^ CITYMGR. (^—^ 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 February 28, 2010 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1) Market Value (2) Current Month 547,608,552 555,586,190 552,426,247 561,564,666 Prior Month 554,051,392 562,075,158 558,843,148 568,062,185 (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 2/28/10. 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 Revenue $47 Capital Projects $278 General Internal Service $ Agency $[4 Enterprise $124 "• Total Treasurer's Investment Portfolio at Amortized Cost February 28, 2(11(1 $552.4 million FOR CITY CLERKS l/SE 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 COUNCIL ACTION: APPROVED D DENIED D CONTINUED D WITHDRAWN D AMENDED D CONTINUED TO DATE SPECIFIC CONTINUED TO DATE UNKNOWN RETURNED TO STAFF OTHER -SEE MINUTESCouncil received the report. D D D D DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancy.Sullivan@carlsbadca.gov PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF FEBRUARY 28, 2010 Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 12,914,913 Prior Month FYTD 11,030,374 Current Month Income 1,884,539 The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement December 2009 January 2010 February 2010 Average Life (Years) 1.61 1.55 1.50 Average Yield To Maturity 2.51% 2.44% 2.41% Modified Duration 1.528 1.481 1.432 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. Third 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 FEBRUARY 28, 2010 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 9,463,627 0 111,471,940 286,047,300 103,020,908 36,955,015 3,000,000 1,861,263 573,193 Prior Month Current Month 33,000 10,443,604 0 112,527,556 293,106,631 100,900,045 34,818,447 5,000,450 1,403,789 609,626 33,000 9,668,950 0 111,662,620 291,269,624 106,541,001 36,955,015 3,000,000 1,861,263 573,193 Prior Month 33,000 10,639,730 0 112,722,760 298,263,797 104,570,586 34,818,447 5,000,450 1,403,789 609,626 Cash Income Year to Date Current Month Prior Month 202 0 0 606,465 7,763,711 3,951,038 592,143 94 1,260 0 0.90 2.72 0.00 0.48 2.79 4.21 0.56 0.05 0.10 0.10 0.90 2.50 0.00 0.47 2.84 4.25 0.56 0.05 0.10 0.10 TOTALS $552,426,247 $558,843,148 $561,564,666 $568,062,185 $12,914,913 2.41%2.44% 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 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF FEBRUARY 28, 2010 BREAKDOWN OF MA TURITIES B Y CLASSIFICA TION 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 0 0 42,597,534 47,862,969 16,075,380 36,955,015 3,000,000 1,861,263 573,193 $148,958,355 (1) 26.8% Year 7 MONTHS TO 1 YEAR 0 0 0 40,243,939 27,388,177 8,961,240 0 0 0 0 $76,593,357 (1) 13.8% $225,551,712 (1) 1 TO 5 YEARS 0 9,201,104 0 29,208,631 212,880,488 78,744,255 0 0 0 0 $330,034,478 59.4% TOTAL 33,000 9,201,104 0 112,050,104 288,131,635 103,780,875 36,955,015 3,000,000 1,861,263 573,193 $555,586,190 100.0% % TOTAL 0.0% 1.7% 0.0% 20.2% 51.9% 18.7% (2) 6.7% 0.5% 0.3% 0.1% 100.0% 40.6% 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:ni—i CD YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1996 - FEBRUARY 2010 —EX-LA f CO MARKET YIELD CURVE 6/30/08, 6/30/09, 2/28/10 Market Rates 3Mth 2Yr 5Yr 3Mth 2Yr 5Yr 10 Yr —06/30/2008 -*• 06/30/2009 ^02/28/2010 1.73 .18 .12 2.62 1.11 .81 3.33 2.56 2.30 3.97 3.53 3.61 10 Yr X 1CI—I CO Cumulative Millions $ Cumulative Cash Income FY09-10 (February 2010) 20 18 16 14 12 10 8 4 2 1.99 1.61 1.6 1.38 1.88 1.31 1.17 Monthly Interest Income Millions $ Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun i=i Interest Income —•-- Budget Actual 8 7 6 5 4 3 2 1 0 Xre I~H DO City of Carlsbad TRANSACTIONS FOR PERIOD: 01/01/10 TO 02/28/2010 3rd QUARTER 2009-2010 Trans Investment Date BUYS JANUARY 01/13/2010 01/11/2010 01/11/2010 01/19/2010 01/19/2010 01/19/2010 01/19/2010 01/19/2010 01/20/2010 01/19/2010 FEBRUARY 02/03/2010 02/10/2010 02/11/2010 02/11/2010 02/11/2010 02/12/2010 02/22/2010 02/22/2010 02/22/2010 02/05/2010 MARCH 02/22/2010 02/22/2010 02/22/2010 03/04/2010 Date 01/26/2010 01/19/2010 01/22/2010 01/20/2010 01/20/2010 01/20/2010 01/20/2010 01/22/2010 01/25/2010 01/21/2010 02/08/2010 02/11/2010 02/12/2010 02/12/2010 02/12/2010 02/19/2010 02/23/2010 02/23/2010 02/26/2010 02/26/2010 03/10/2010 03/09/2010 03/10/2010 03/22/2010 TOTAL THIRD QUARTER MATURITIES JANUARY ro 02/01/2008 06/05/2009 07/22/2009 01/30/2008 Type FA FA FA TR TR FA FA FA FA FA CN FA TR FA FA FA FA TR FA FA FA FA FA FA 2009-2010 FA TR TR CN Security FHLB FHLMC FHLB US TREASURY US TREASURY FHLMC FNMA FNMA FAMCA FNMA GENERAL ELECTRIC FFCB US TREASURY FFCB FNMA FHLMC FFCB US TREASURY FHLMC FNMA FHLMC FNMA FHLB FNMA FHLMC US TREASURY US TREASURY BERKSHIRE HATHAV Call Date 01/26/2011 07/19/2010 02/22/2010 N/A N/A N/A 07/20/2010 N/A N/A 07/21/2010 N/A 04/26/2010 N/A N/A 10/28/2010 02/15/2011 N/A N/A 08/26/2010 08/26/2010 06/10/2010 09/09/2010 09/10/2010 09/22/2010 N/A N/A N/A Par Value 2,000,000.00 3,000,000.00 1,000,000.00 4,000,000.00 1,000,000.00 1,000,000.00 1,250,000.00 1,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 4,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 39,250,000.00 3,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 Coupon 2.125% 1 .625% 1.000% 0.000% 1.000% 5.125% 1.500% 1.750% 2.100% 3.030% 6.000% 0.950% 0.875% 3.000% 2. 125% STEP 1%STEP 3.875% 1.000% 2.125% 2.050% 2.000% 3.000% 2.100% 2.570% 3.250% 2.125% 2.125% 4.125% Amount (Cost) 2,000,000.00 3,000,000.00 1,000,400.00 3,991,946.67 1,005,625.00 1,092,760.00 1,249,375.00 1,009,004.81 1,015,908.69 1,001,875.00 2,174,860.00 4,002,000.00 2,010,100.00 1,028,536.49 1,014,759.55 1,000,000.00 1,065,180.00 3,016,170.00 1,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 39,678,501.21 3,000,000.00 3,035,156.25 2,019,531.25 2,040,548.16 Return Rate 2.125% 1.625% 0.973% 0.244% 0.630% 1.320% 1.520% 1.390% 1.460% 2.985% 2.167% 0.921% 0.301% 2.250% 3.167% 2.054% 2.000% 0.660% 2.125% 2.050% 2.000% 3.000% 2.100% 2.750% 0.527% 3.250% 0.331% 0.262% 3.050% Investment Interest 148,750.00 121,875.00 14,600.00 8,053.33 9,673.91 34,653.19 47,500.00 35,717.41 37,466.31 134,475.00 107,473.33 62,916.67 5,321.27 91,463.51 121,601.56 72,388.89 75,181.11 31,797.03 74,375.00 143,500.00 65,000.00 165,000.00 73,500.00 231,300.00 1,913,582.52 194,458.33 28,593.75 2,775.38 121,014.34 2, 3, 1, 4, 1, 1, 1, 1, 1, 1, 2, 4, 2, 1, 1, 1, 1, 3, 1, 2, 1, 1, 1, 2, 41, 3, 3, 2, 2, Return 148,750.00 121,875.00 015,000.00 000,000.00 015,298.91 127,413.19 296,875.00 044,722.22 053,375.00 136,350.00 282,333.33 064,916.67 015,421.27 120,000.00 136,361.11 072,388.89 140,361.11 047,967.03 074,375.00 143,500.00 065,000.00 165,000.00 073,500.00 231,300.00 592,083.73 194,458.33 063,750.00 022,306.63 161,562.50 mx co City of Carlsbad TRANSACTIONS FOR PERIOD: 01/01/10 TO 02/28/2010 3rd QUARTER 2009-2010 Trans Investment Date Date Type 01/31/2008 CN 04/09/2008 CN FEBRUARY 01/28/2008 FA 01/31/2008 FA 09/29/2008 FA 06/01/2009 FN 06/05/2009 TR 05/11/2009 TR 07/22/2009 TR Security BERKSHIRE HATHAV WELL FARGO CO FHLB FHLB FHLMC FHLBN US TREASURY US TREASURY US TREASURY TOTAL THIRD QUARTER 2009-2010 CALLS and / or SALES JANUARY 01/23/2008 FA FHLB FEBRUARY 08/10/2009 FA FHLB 02/12/2009 FA FNMA 05/14/2009 FA FNMA 11/17/2009 FA FHLB 05/19/2009 FA FNMA 01/22/2010 FA FHLB TOTAL THIRD QUARTER 2009-2010 Call Date N/A N/A N/A N/A N/A N/A N/A N/A N/A 01/14/2010 02/10/2010 02/12/2010 08/14/2014 02/17/2010 02/19/2013 02/22/2010 Par Value 2,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 3,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 26,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 Coupon 4.125% 4.200% 3.875% 7.375% 3.125% 0.000% 6.500% 2.000% 2.000% 4.700% 2.000% 2% STEP 2% STEP 1.1 25% STEP 2.320% 1.000% Amount (Cost) 2,038,582.81 1,018,383.81 1,020,550.00 2,177,668.00 2,997,750.00 997,329.44 3,128,320.31 2,025,000.00 1,010,312.50 26,509,132.53 2,056,800.00 1,999,500.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1,000,400.00 Return Rate 3.100% 3.120% 2.830% 2.841% 3.180% 0.386% 0.342% 0.411% 0.303% 1.019% 4.061% 2.009% 3.500% 2.000% 3.297% 2.320% 0.973% Interest 122,750.52 55,816.19 58,456.94 122,248.67 130,635.42 2,670.56 7,425.55 7,173.91 1,861.41 855,880.97 409,022.22 121,500.00 355,000.00 320,000.00 235,000.00 87,000.00 14,600.00 Investment Return 2,161,333.33 1,074,200.00 1,079,006.94 2,299,916.67 3,128,385.42 1,000,000.00 3,135,745.86 2,032,173.91 1,012,173.91 27,365,013.50 2,465,822.22 2,121,000.00 2,355,000.00 2,320,000.00 2,235,000.00 1,087,000.00 1,015,000.00 12,000,000.00 12,056,700.00 2.758% 1,542,122.22 13,598,822.22 INVESTMENT REPORT AS OF FEBRUARY 28, 2010 INVESTMENT DATE 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 12/05/2008 02/20/2008 06/03/2009 05/11/2009 05/12/2009 06/22/2009 08/31/2007 05/08/2008 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 FNMA4.40% NON-CALL FHLB 2.375% NON-CALL FHLB 2.375% NON-CALL FHLB 2.750% NON-CALL FHLB 2.750% NON-CALL FFCB 2.375% NON-CALL FHLMC4.02% NON-CALL FFCB 4.780% NON-CALL FFCB 5.320% NON-CALL FHLB 7.625% NON-CALL FNMA 3.625% NON-CALL FHLB 1.250% NON-CALL FHLB 4.25% NON-CALL FHLB 3.00% NON-CALL FHLB 5.25% NON-CALL 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 FHLMC 4.50% NON-CALL FHLB 2.875% NON-CALL FNMA 2.050% CALL 4/1/10 FHLB 1.375% NON-CALL FNMA 1.45% CALL FHLB 1.125% NON-CALL FHLB 5.275% NON-CALL FHLB 5.25% NON-CALL PAR VALUE 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 3,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 INVESTED AMOUNT 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 3,119,880.00 2,993,378.76 2,024,200.00 1,001,350.00 1,000,000.00 1,988,700.00 1,020,930.00 1,055,434.00 RETURN RATE 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% 4500% 3.115% 2420% 1 .400% 4.490% 0.550% 0.700% 2.980% 1.125% 0.701% 0.750% 0.800% 2.470% 2.950% 1.377% 1.305% 1 .450% 1 .420% 4.761% 3.345% INTEREST 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 1 1 ,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 23,270.00 154,245.00 270,402.49 50,738.89 25,653.47 29,000.00 55,112.50 181,976.25 106,732.67 INVESTMENT RETURN 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 3,364,87500 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 3,274,125.00 3,263,781.25 2,074,938.89 1,027,003.47 1,029,000.00 2,043,812.50 1,202,906.25 1,162,166.67 TERM (Days) 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 1,083 365 500 900 548 506 532 530 741 1,115 667 717 730 711 1,379 1,128 mx INVESTMENT REPORT AS OF FEBRUARY 28, 2010 INVESTMENT DATE TYPE SECURITY 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 12/30/2009 FA FHLMC 5.25% 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 12/08/2009 FA FFCB 1.128% NON-CALL 03/15/2007 FA FHLB 4.875% NON-CALL 02/11/2010 FA FFCB .950% CALL 4/26/10 12/07/2009 FA FHLB 4.25% NON-CALL 12/08/2009 FA FHLB 4.25% NON-CALL 03/19/2007 FA FHLB 4.875% NON-CALL 12/30/2009 FA FNMA 1.0% NON-CALL 12/09/2009 FA FFCB .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 07/25/2007 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 11/06/2009 FA FHLMC 2.45% CALL 6/29/10 12/29/2009 FA FHLMC 1.45% CALL 3/29/10 01/20/2010 FA FHLMC 5.125% NON-CALL 10/19/2009 FA FFCB 1.55% CALL 10/19/10 01/19/2010 FA FHLMC 1.625% CALL 7/19/10 12/10/2007 FA FHLB 5.58% CALL 7/20/10 - 01/20/2010 FA FNMA 1.5% CALL 7/20/10 PAR VALUE 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 1,737,000.00 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 1,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 1,000,000.00 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 1,000,000.00 3,000,000.00 1,000,000.00 3,000,000.00 3,000,000.00 1,000,000.00 1,250,000.00 INVESTED AMOUNT 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 1,853,035.07 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 3,014,854.10 3,018,777.00 4,002,000.00 1,061,850.00 2,126,060.00 3,009,690.00 2,994,090.00 997,136.00 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 1,011,600.00 2,997,750.00 1,092,760.00 2,995,200.00 3,000,000.00 1,037,000.00 1,249,375.00 RETURN RATE 2.720% 4.805% 5.175% 4.781% 3.545% 1 .639% 2.050% 0.900% 1 .750% 1.315% 1 .375% 4.800% 1.818% 1 .490% 4.773% 4.730% 1 .958% 4.390% 0.850% 4.720% 0.921% 1 .020% 0.956% 4.795% 1.105% 1.020% 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% 1 .997% 1.481% 1.320% 1.610% 1.625% 4.677% 1.520% INTEREST 154,501.19 406,997.78 618,286.67 118,184.21 233,760.22 85,530.00 46,807.78 25,313.30 118,125.00 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 46,552.13 647,473.00 62,916.67 20,552.78 38,509.44 672,403.75 62,826.67 20,364.00 167,200.00 500,000.00 750,000.00 246,979.17 489,057.50 112,500.00 524,632.22 128,989.85 256,692.64 256,478.21 460,552.31 120,622.62 70,024.94 53,256.94 111,000.00 34,653.19 132,675.00 121,875.00 220,300.00 47,500.00 INVESTMENT RETURN 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 1 ,878,348.37 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 3,061,406.23 3,666,250.00 4,064,916.67 1,082,402.78 2,164,569.44 3,682,093.75 3,056,916.67 1,017,500.00 4,204,000.00 2,500,000.00 3,750,000.00 1,246,666.67 2,476,937.50 2,110,000.00 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 1,064,856.94 3,108,750.00 1,127,413.19 3,127,875.00 3,121,875.00 1,257,300.00 1,296,875.00 TERM (Days) 996 1,588 1,444 1,414 1,163 836 795 565 821 758 673 1,610 934 794 1,649 1,639 959 1,416 664 1,665 622 708 707 1,705 693 730 932 1,827 1,827 1,802 1,788 1,004 1,764 947 1,780 1,780 1,424 972 939 966 913 907 1,004 912 1,684 912 INVESTMENT REPORT AS OF FEBRUARY 28, 2010 INVESTMENT DATE TYPE SECURITY 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 12/24/2009 FA FNMA 5.00% NON-CALL 01/25/2010 FA FAMCA 2.1% NON-CALL 01/20/2010 FA FNMA 1.75% NON-CALL 08/13/2008 FA FHLB 4.35% CALL 8/13/10 01/29/2009 FA FHLB 4.625% NON-CALL 12/24/2009 FA FHLB 4.625% NON-CALL 11/17/2009 FA FHLB 1.75% CALL 8/17/10 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 11/25/2009 FA FFCB 1.80% NON-CALL 12/24/2009 FA FHLMC 2.0% CALL 9/28/10 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 12/07/2009 FA FNMA 1.875% CALL 10/29/10 06/03/2008 FA FNMA 6.41% NON-CALL 05/19/2009 FA FNMA 2.2% CALL 5/19/10 12/14/2009 FA FHLB 1.0% CALL 12/14/11 STEP 01/14/2008 FA FHLB 4.25% CALL 10/14/08 10/20/2009 FA FFCB 5.15% NON-CALL 11/25/2009 FA FHLB 2.0% CALL 8/25/10 03/10/2008 FA FHLB 3.50% NON-CALL 11/25/2009 FA FHLB 2.35% CALL 9/15/10 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 12/24/2009 FA FNMA 2.125% CALL 12/24/10 12/28/2009 FA FHLB 1.85% 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 01/26/2010 FA FHLB 2.125% CALL 1/26/11 02/19/2010 FA FHLMC 1.0% CALL 2/15/11 08/19/2009 FA FFCB 2.7% NON-CALL 02/26/2010 FA FNMA 2.05% CALL 8/26/10 PAR VALUE 2,000,000.00 2,000,000.00 1,000,000.00 1,770,000.00 1,037,000.00 1,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 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 1,000,000.00 1,807,000.00 2,000,000.00 1,000,000.00 3,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 500,000.00 500,000.00 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 INVESTED AMOUNT 2,002,900.00 1,988,600.00 998,800.00 1,770,000.00 1,127,519.73 1,015,908.69 1,009,004.81 1,999,500.00 2,150,960.00 1,078,810.00 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 3,014,100.00 1,063,510.00 2,034,780.00 2,000,000.00 1,003,900.00 1,990,388.82 2,000,000.00 999,500.00 3,000,000.00 1,102,490.00 999,531.25 2,963,940.00 1,009,500.00 2,008,000.00 2,000,000.00 536,967.86 532,794.50 1,065,788.37 2,130,988.03 1,000,000.00 1,987,226.45 2,053,420.00 2,035,600.00 1,991,200.00 2,000,000.00 1,000,000.00 1,005,669.88 2,000,000.00 RETURN RATE 3.910% 2.200% 1.745% 5.520% 1.567% 1 .460% 1 .390% 4.357% 2.391% 1.567% 1 .750% 2.625% 2.500% 2.710% 3.640% 3.889% 1 .680% 1 .405% 1.824% 1.928% 4.100% 5.000% 1 .736% 3.890% 2.200% 1 .673% 4.250% 1 .926% 2.015% 3.765% 2.051% 2.384% 4.000% 2.100% 2.120% 3.800% 2.450% 2.125% 2.040% 3.983% 3.970% 2.518% 2.125% 2.054% 2.550% 2.050% INTEREST 310,466.67 129,733.33 47,950.00 488,520.00 44,578.33 37,466.31 35,717.41 348,500.00 176,901.11 43,367.08 96,250.00 183,750.00 150,416.67 190,000.00 192,237.89 160,020.00 50,180.00 120,099.99 151,566.67 67,701.81 401,970.00 500,000.00 50,370.83 331,405.40 154,000.00 50,500.00 637,500.00 67,316.94 65,468.75 560,476.67 68,180.56 172,833.33 320,000.00 39,296.03 40,094.39 181,163.02 195,081.41 74,375.00 142,273.55 371,823.06 392,177.78 197,066.67 148,750.00 72,388.89 102,330.12 143,500.00 INVESTMENT RETURN 2,313,366.67 2,118,333.33 1,046,750.00 2,258,520.00 1,172,098.06 1,053,375.00 1,044,722.22 2,348,000.00 2,327,861.11 1,122,177.08 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 3,165,666.67 1,131,211.81 2,436,750.00 2,500,000.00 1,054,270.83 2,321,794.22 2,154,000.00 1,050,000.00 3,637,500.00 1,169,806.94 1,065,000.00 3,524,416.67 1,077,680.56 2,180,833.33 2,320,000.00 576,263.89 572,888.89 1,246,951.39 2,326,069.44 1,074,375.00 2,129,500.00 2,425,243.06 2,427,777.78 2,188,266.67 2,148,750.00 1,072,388.89 1,108,000.00 2,143,500.00 TERM (Days) 1,448 1,080 1,004 1,827 952 928 933 1,461 1,294 965 1,004 1,277 1,099 1,280 1,593 1,484 1,089 1,034 1,009 1,238 1,773 1,827 1,057 1,624 1,280 1,096 1,827 1,206 1,188 1,824 1,206 1,321 1,826 1,310 1,331 1,677 1,401 1,278 1,278 1,678 1,785 1,432 1,277 1,273 1,461 1,277 INVESTMENT REPORT AS OF FEBRUARY 28, 2010 INVESTMENT DATE 02/26/2010 11/12/2008 12/17/2008 02/23/2010 10/19/2009 11/26/2008 01/20/2009 02/12/2010 02/12/2010 10/20/2009 01/21/2010 11/05/2009 09/24/2009 02/24/2010 12/30/2009 03/12/2009 02/11/2009 02/18/2009 02/25/2009 03/02/2009 03/02/2009 06/05/2009 04/30/2009 06/05/2009 07/22/2009 11/24/2009 06/05/2009 04/21/2009 12/24/2009 06/05/2009 09/16/2009 06/05/2009 09/16/2009 11/24/2009 11/24/2009 12/24/2009 07/22/2009 09/02/2009 TYPE FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FN FN FN FN FN FN TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR SECURITY FHLMC2.125% CALL 8/26/10 FHLB4.0% NON-CALL FHLB 4.375% NON-CALL FFCB 3.875% NON-CALL FFCB 5.350% NON-CALL FHLB 3.5% CALL 11/26/10 FHLB 3. 125% NON-CALL FFCB 3.00% NON-CALL FNMA 2.125% CALL 10/28/1 1 FFCB 4.375% NON-CALL FNMA 3.03% CALL 7/21/10 FNMA 3.3% CALL 7/30/10 FNMA 2.0% CALL 9/23/1 1 STEP FHLMC 3.125% QUARTERLY CALL FNMA 2.3% QRTLY CALL STEP SUB-TOTAL 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 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 0.0% US TREASURY 2.8750% US TREASURY 2.8750% US TREASURY 2.750% US TREASURY 2.750% US TREASURY 00% US TREASURY 00% US TREASURY 00% US TREASURY 2.00% US TREASURY 1.50% PAR VALUE 1,000,00000 1,000,000.00 2,000,00000 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 1,000,000.00 1,100,000.00 3,000,000.00 2,000,000.00 2,000,000.00 282,555,000.00 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 10,000,000.00 292,555,000.00 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 6,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 4,000,000.00 2,000,000.00 5,000,000.00 3,000,000.00 5,000,000.00 INVESTED AMOUNT 1,000,000.00 1,007,890.00 2,154,940.00 1,065,180.00 2,235,072.36 2,000,000.00 2,047,941.08 1 ,028,536.49 1,014,759.55 3,234,480.00 1,001,875.00 1,110,340.00 3,000,000.00 2,010,896.00 2,000,000.00 288,131,635.40 956,370.00 1,889,240.00 916,713.56 1,826,280.00 1,818,680.00 1,793,820.00 9,201,103.56 297,332,738.96 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 5,995,298.33 3,076,875.00 2,040,781.25 3,077,578.13 2,042,343.75 3,994,500.00 1,996,801.67 4,990,520.83 3,052,031.25 5,062,500.00 RETURN RATE 2.125% 3.818% 2.625% 2.000% 2.264% 4.361% 2.600% 2.250% 3.167% 2.595% 2.985% 3.084% 3.163% 3.000% 3.150% 2.791% 2.200% 2.300% 2.710% 2.850% 3.000% 3.050% 2.724% 0.369% 0.437% 0.382% 0.325% 0.127% 0.452% 0.529% 0.157% 0.469% 0.282% 0.501% 0.317% 0.183% 0.193% 0.254% 0.537% 0.419% INTEREST 74,375.00 184,776.67 259,712.78 75,181.11 193,522.08 440,000.00 258,135.31 91,463.51 121,601.56 381,665.83 134,475.00 161,580.83 479,833.33 284,937.33 315,000.00 28,150,036.56 43,630.00 110,760.00 83,286.44 173,720.00 181,320.00 206,180.00 798,896.44 28,948,933.00 9,165.60 8,193.89 10,114.63 12,754.76 1,843.75 13,155.57 17,911.66 4,701.67 15,331.49 4,531.25 17,684.30 5,631.79 5,500.00 3,198.33 9,479.17 19,444.16 24,524.46 INVESTMENT RETURN 1,074,375.00 1,192,666.67 2,414,652.78 1,140,361.11 2,428,594.44 2,440,000.00 2,306,076.39 1,120,000.00 1,136,361.11 3,616,145.83 1,136,350.00 1,271,920.83 3,479,833.33 2,295,833.33 2,315,000.00 316,281,671.96 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 10,000,000.00 326,281,671.96 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 6,000,000.00 3,092,206.49 2,045,312.50 3,095,262.43 2,047,975.54 4,000,000.00 2,000,000.00 5,000,000.00 3,071,475.41 5,087,024.46 TERM (Days) 1,277 1,759 1,731 1,322 1,463 1,826 1,788 1,461 1,536 1,714 1,642 1,728 1,825 1,728 1,826 1,152 744 908 1,178 1,171 1,166 1,314 1,080 2,232 299 343 314 282 177 344 405 182 390 287 421 318 275 303 187 435 424 INVESTMENT REPORT AS OF FEBRUARY 28, 2010 INVESTMENT DATE 11/24/2009 01/20/2010 09/02/2009 11/24/2009 02/12/2010 10/01/2009 10/19/2009 10/19/2009 12/30/2009 10/28/2009 09/24/2009 10/28/2009 11/24/2009 01/20/2010 11/24/2009 02/23/2010 11/10/2008 11/12/2008 03/02/2009 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 TYPE TR TR TR TR TR TR TR TR TR 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 SECURITY US TREASURY 1.50% US TREASURY 0.0% US TREASURY 1.25% US TREASURY 1.25% US TREASURY .875% US TREASURY 0.875% 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 1.1250% US TREASURY 1.00% US TREASURY 1.00% US TREASURY 1.00% US TREASURY 3.125% US TREASURY 3.125% SUB-TOTAL WELLS FARGO BANK 9218910637 SUB-TOTAL 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 PAR VALUE 2,000,000.00 4,000,000.00 5,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 4,000,000.00 3,000,000.00 4,000,000.00 3,000,000.00 4,000,000.00 1,000,000.00 5,000,000.00 3,000,000.00 1,000,000.00 1,000,000.00 111,000,000.00 33,000.00 33,000.00 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 INVESTED AMOUNT 2,023,125.00 3,991,946.67 5,048,828.13 3,029,179.69 2,010,100.00 3,014,531.25 3,012,656.25 3,011,718.75 4,010,625.00 3,008,320.31 4,018,593.75 3,018,398.44 4,037,343.75 1,005,625.00 5,031,445.31 3,016,170.00 1,031,328.00 1,030,781.25 112,050,104.44 33,000.00 33,000.00 997,777.82 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 RETURN RATE 0.259% 0.244% 0.461% 0.291% 0.301% 0.509% 0.544% 0.587% 0.661% 0.699% 0.859% 0.755% 0.538% 0.630% 0.641% 0.660% 2.430% 2.452% 0.476% 0.900% 0.900% 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% INTEREST 4,886.05 8,053.33 28,869.96 8,935.06 5,321.27 20,421.20 21,012.23 24,103.07 33,125.00 33,421.49 60,889.95 38,096.13 34,680.71 9,673.91 56,814.36 31,797.03 118,792.86 121,777.13 843,837.22 620.00 620.00 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 INVESTMENT RETURN 2,028,011.05 4,000,000.00 5,077,698.09 3,038,114.75 2,015,421.27 3,034,952.45 3,033,668.48 3,035,821.82 4,043,750.00 3,041,741.80 4,079,483.70 3,056,494.57 4,072,024.46 1,015,298.91 5,088,259.67 3,047,967.03 1,150,120.86 1,152,558.38 112,893,941.66 33,620.00 33,620.00 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 TERM (Days) 341 302 454 371 322 487 469 497 456 580 644 610 583 557 645 584 1,755 1,783 481 365 365 519 818 973 834 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 INVESTMENT REPORT AS OF FEBRUARY 28, 2010 INVESTMENT DATE 04/28/2009 08/17/2009 03/20/2007 10/11/2007 11/15/2007 05/12/2009 05/05/2009 04/21/2009 04/23/2009 04/30/2008 08/31/2007 05/30/2008 02/08/2010 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 CN CN CN CN CN CN CN CN CN O O O O O O O 0 SECURITY 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 PRINCIPAL LIFE INC 4.5% NON-CALL GENERAL ELECTRIC 6.00% 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 I-CALL :ALL 3ALL .LL 1L \LL CALL CALL CALL ALL vl-CALL I-CALL I-CALL i% NON-CAL .% NON-CAL L _L ,LL ALL SUB-TOTAL T ACCOUNT 'RPORATION )RATION SUB-TOTAL PAR VALUE 2,000,000.00 2,250,000.00 5,956,000.00 3,000,000.00 2,000,000.00 3,000,000.00 1,575,000.00 1,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 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 1,000,000.00 101,631,080.00 572,545.00 1,861,263.43 648.42 3,000,000.00 11,795,000.00 6,852,926.30 6,213,088.61 12,094,000.00 42,389,471.76 INVESTED AMOUNT 2,060,840.00 2,427,570.00 6,187,688.40 3,089,347.40 2,089,414.35 3,103,177.11 1,590,861.34 1,022,563.95 2,039,340.00 1,000,000.00 1,033,437.31 1,052,958.51 2,174,860.00 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 1,003,190.00 103,780,874.81 572,545.00 1,861,263.43 648.42 3,000,000.00 11,795,000.00 6,852,926.30 6,213,088.61 12,094,000.00 42,389,471.76 RETURN RATE 1.680% 1.800% 4.970% 5.100% 4.700% 2.180% 2.330% 3.200% 3.300% 4.500% 5.200% 4.550% 2.167% 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% 4.207% 0.100% 0.100% 0.000% 0.050% 0.560% 0.560% 0.560% 0.560% 0.497% INTEREST 89,458.61 99,695.62 1,483,867.09 676,360.93 409,960.65 187,485.39 104,626.16 96,769.38 198,882.22 178,375.00 253,896.02 189,541.49 107,473.33 605,158.33 237,753.83 484,836.30 449,799.83 205,539.76 251,024.46 485,410.46 118,982.59 504,981.86 225,850.34 177,542.10 251,186.41 800,488.89 155,565.56 17,745,355.59 1.57 5.10 - 4.17 183.48 106.60 96.65 188.13 585.69 INVESTMENT RETURN 2,150,298.61 2,527,265.62 7,671,555.49 3,765,708.33 2,499,375.00 3,290,662.50 1,695,487.50 1,119,333.33 2,238,222.22 1,178,375.00 1,287,333.33 1,242,500.00 2,282,333.33 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 1,158,755.56 121,526,230.40 572,546.57 1,861,268.53 648.42 3,000,004.17 11,795,183.48 6,853,032.90 6,213,185.26 12,094,188.13 42,390,057.45 TERM (Days) 955 857 1,793 1,588 1,553 1,026 1,035 1,090 1,088 1,447 1,750 1,477 858 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 1,372 1 1 1 1 1 1 1 1 GRAND TOTAL 547,608,551.76 555,586,189.97 2.412% 47,539,331.50 603,125,521.47 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF FEBRUARY 28, 2010 EXHIBIT 8 Cash Balance by Fund: General Special Revenue Debt Service Capital Projects: General Capital Construction Traffic Impact Fees Public Facilities Fees Park Development Transnet Taxes Drainage Fees Special Districts Infrastructure Replacement Redevelopment Other Capital Construction Enterprise: Carlsbad Municipal Water District Sewer Fund Solid Waste Storm Water Golf Course Internal Service Agency Funds Misc. Special Funds Total General Ledger Balance ** Reconciling Adjustments (1) Total Treasurer's Investment Portfolio at Amortized Cost Total Total 68,470,675 16,129,374 44,018,351 2,341,493 6,100,213 7,971,313 73,778,988 53,716,129 2,480,017 3,088,844 67,260,011 48,760,547 7,029,925 2,028,298 (283,581) 63,341,290 47,338,848 0 278,095,397 124,795,201 27,608,444 14,190,936 0 555,370,116 (2,943,870) 552,426,247 (1) 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 3/08/10 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of February 28, 2010 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) Moody's S&P BARCLAYS BANK BERKSHIRE HATHAWAY CHEVRON GENERAL ELECTRIC JOHNSONS JOHNSON MET LIFE GLOBAL NEW YORK LIFE PROCTER & GAMBLE ROYAL BANK OF CANADA SUNTRUST BANK 3M TOYOTA WAL-MART AAA AA2 AA1 AA2 AAA AA2 AAA AA3 AAA AAA AA2 AA1 AA2 AAA AAA AA AA+ AAA AA- AAA AA- AA- AAA AA- AA 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 US BANCORP WELLS FARGO A1 A3 A2 A1 BAA1 AA3 A2 AA3 A1 AA- 05/30/2008 2,015,161 A 06/20/2006 11,033,384 A- 05/07/2008 2,007,626 A 03/19/2008 1,003,309 BBB+ 06/12/2006 2,994,779 A+ 04/30/2008 1,000,000 AA- 07/17/2008 3,000,000 A+ 02/03/2006 2,995,618 AA- 01/30/2008 4,050,108 Market Value 2,178,900 11,344,550 2,083,920 1,010,880 3,117,660 1,027,640 2,957,280 3,055,260 4,167,940 * 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 FEBRUARY 28, 2010 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 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 4,085,739.63 3,103,177.11 11,022,079.70 27,634,444.89 2,016,628.76 1,025,648.53 2,974,590.00 1,017,457.28 4,043,11452 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 4,139,348.92 ENCY ISSUER Investment Cost 7,884,746.01 9,201,103.56 54,347,269.33 127,760,283.48 49,943,715.93 42,665,142.17 5,530,478.48 112,050,104.44 Percent of Portfolit 0.36% 0.29% 0.74% 0.56% 1 .98% 4.97% 0.36% 0.18% 0.54% 0.18% 0.73% 0.36% 0.18% 0.94% 0.54% 0.19% 0.37% 0.38% 1.72% 0.53% 1.82% 0.75% Percent of Portfolio** 1 .42% 1 .66% 9.78% 23.00% 8.99% 7.68% 1.00% 20.17% $555,586,189.97