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HomeMy WebLinkAbout2010-09-28; City Council; 20367; REPORT ON CITY INVESTMENTS AS OF AUGUST 31, 2010CITY OF CARLSBAD - AGENDA BILL AB# 20,367 MTG. 9/28/2010 DEPT. TRS REPORT ON CITY INVESTMENTS AS OF AUGUST 31 ,2010 DEPT. HEAD $> CITY ATTY. -<&> CITYMGR. u,^- RECOMMENDED ACTION: Accept and file report. ITEM EXPLANATION: The City's Investment Policy requires the City Treasurer to report to the City Council on a monthly basis the status of the City's pooled investment portfolio. A quarterly report is also required for the investments of bond proceeds held separately. The City's pooled investment portfolio as of the month ended August 31, 2010 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1) Market Value (2) Current Month 552,006,161 559,675,261 556,537,657 566,022,970 Prior Month 562,177,790 570,066,796 566,934,179 576,478,288 (1) The cost of investments adjusted for amortized premiums and discounts. (2) The amount at which the investments could be sold. Source of market values is Union Bank of California's custodial report as of 8/31/10. The equity portion of the various funds in the total portfolio is summarized in the graph on the next page. Fund balances are restricted for various purposes. See Exhibit 8 for a more detailed breakdown. The $10 million decrease between July '10 and August '10 in the cost of investments is due to the purchase of property for $2.5 million as well as payment of debt service on City bonds. FOR CITY CLERKS USE ONLY. COUNCIL ACTION: APPROVED DENIED CONTINUED WITHDRAWN AMENDED D D D D CONTINUED TO DATE SPECIFIC D CONTINUED TO DATE UNKNOWN D RETURNED TO STAFF O OTHER - SEE MINUTES D DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancy.Sullivan@carlsbadca.gov PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF AUGUST 31. 2010 FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) General Special Revenue $59 ^ $49.9 Internal Service „,-,„ „ ^ ,_._,» . .Capital Projects $284 ff-i-^-a ^^^m^^^^yEnterprise Total Treasurer's Investment Portfolio at Amortized Cost August 31, 2010 S556.5 million Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 3,064,651 Prior Month FYTD 1 ,337,486 Current Month Income 1,727,165 The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement June 2010 July 2010 August 2010 Average Life (Years) 1.46 1.39 1.32 Average Yield To Maturity 2.24% 2.12% 2.02% Modified Duration 1.401 1.342 1.270 All pooled investments have been made in accordance with the City's Investment Policy adopted January 2, 1985 and last revised March 23, 2010. All investments were initially made in accordance with the City's Investment Policy. Events subsequent to the purchase might have resulted in some investments not being in compliance with the current policy. These events are typically a change in the City's Investment Policy, a change in the credit rating subsequent to a purchase, or a temporary reduction in total portfolio assets. See Exhibit 9 for details. The pooled investment portfolio has the ability to meet the City's cash flow demands for the next six (6) months. EXHIBITS FOR POOLED INVESTMENTS: 1. Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield 2. Investment Portfolio Breakdown Of Maturities 3. Yield Comparison Graph 4. Market Yield Curve 5. Cumulative Cash Income Graph 6. First Quarter Transactions 7. Detailed Investment Report 8. Fund Equity in Pooled Investments 9. Corporate Note and Commercial Paper Ratings 10. Percentage Weightings By Corporate Note Issuer CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF AUGUST 31, 2010 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS AMORTIZED COST Class CD FN CP TR FA CN LAIF CUSTODY SWEEP BANKACCT Current Month 0 11,493,942 0 77,182,076 259,292,041 83,579,437 121,119,077 64,750 2,491,507 1,314,827 MARKET Prior Month Current Month 0 11,468,836 0 86,209,056 274,465,807 91,628,691 100,361,240 64,054 2,008,832 727,664 0 11,755,730 0 77,445,320 265,029,418 86,802,341 121,119,077 64,750 2,491,507 1,314,827 VALUE Prior Month 0 11,728,420 0 86,466,170 280,350,214 94,771,694 100,361,240 64,054 2,008,832 727,664 AVERAGE YIELD Cash Income Year to Date Current Month Prior Month 0 0 0 153,750 1,765,570 1,069,958 74,977 2 395 0 0.00 2.58 0.00 0.59 2.43 4.20 0.52 0.05 0.10 0.10 0.00 2.58 0.00 0.56 2.49 4.22 0.53 0.05 0.10 0.10 TOTALS $556,537,657 $566,934,179 $566,022,970 $576,478,288 $3,064,651 2.02%2.12% 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 xHZI—I CO CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF AUGUST 31, 2010 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 0 0 0 40,243,939 25,388,177 8,961,240 121,119,077 64,750 2,491,507 1,314,827 $199,583,518 (1) 35.7% Year 7 MONTHS TO 1 YEAR 0 2,845,610 0 24,130,352 32,248,832 17,260,842 0 0 0 0 $76,485,635 (1) 13.7% $276,069,153 (1) 1 TO 5 YEARS 0 8,237,574 0 13,103,592 203,955,359 58,309,583 0 0 0 0 $283,606,108 50.7% TOTAL 0 11,083,184 0 77,477,883 261,592,369 84,531,665 121,119,077 64,750 2,491,507 1,314,827 $559,675,261 100.0% % TOTAL 0.0% 2.0% 0.0% 13.8% 46.7% 15.1% (2) 21.6% 0.0% 0.5% 0.2% 100.0% 49.3% POLICY: (1) Not less than $125,500,000 to mature within one year. (2/3rds of current year operating budget of $188,300,000.00) (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes.x:r I—I DO IN3 YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1998 - AUGUST 2010 MARKET YIELD CURVE 6/30/09,6/30/10,8/31/10 Market Rates 3Mth 2Yr 5Yr 3Mth 2Yr 5Yr 10 Yr -—06/30/2009 -*- 06/30/2010 -^•08/31/2010 .18 .17 .13 1.11 .60 .47 2.55 1.77 1.33 3.53 2.93 2.47 10 Yr X:ri—i DO Cumulative Cash Income FY10-11 Cumulative Millions $ 16 14 12 10 8 6;i (August 2010)Monthly Interest Income Millions $ * ^ ^^ ^^ \34 Xr^ I'dX ,_ 7/ 41 _ n Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun izziInterest Income —^-Budget Actual X31I—I DO City of Carlsbad TRANSACTIONS FOR PERIOD: 07/01/10 TO 08/31/10 1st QUARTER 2010-2011 Trans Date BUYS JULY 06/30/2010 06/30/2010 07/28/2010 AUGUST 08/04/2010 08/24/2010 Investment Date 07/01/2010 07/01/2010 07/29/2010 08/18/2010 08/25/2010 Maturity Date 12/21/2012 05/26/2015 04/28/2015 08/18/2015 08/24/2015 Type FA FA FA FA FA Security FHLMC FHLMC FFCB FNMA FHLB Call Date N/A 11/26/2010 10/28/2010 08/18/2011 08/24/2011 Par Value 3,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 Coupon 4.125% 3.000% 2.120% 1.5% STEP 1 .820% Amount (Cost) 3,233,040.00 3,027,060.00 2,001,080.00 1,999,500.00 2,006,000.00 Return Rate 0.939% 2.801% 2.108% 2.375% 1.757% Interest 72,897.50 414,190.00 200,202.22 240,500.00 175,898.89 Investment Return 3,305,937.50 3,441,250.00 2,201,282.22 2,240,000.00 2,181,898.89 SEPTEMBER 08/16/2010 08/17/2010 08/26/2010 08/26/2010 08/27/2010 08/31/2010 09/01/2010 08/31/2010 09/02/2010 09/02/2010 09/03/2010 09/01/2010 09/15/2010 09/08/2010 09/22/2010 09/24/2010 09/14/2015 09/24/2010 09/14/2010 09/28/2010 09/30/2010 09/21/2010 TOTAL FIRST QUARTER MATURITIES JULY AUGUST CVi 07/25/2007 07/15/2008 03/12/2008 02/20/2008 02/13/2008 11/01/2007 03/19/2008 02/03/2006 06/05/2009 09/16/2009 10/30/2007 02/12/2008 09/18/2007 11/24/2009 01/31/2008 03/16/2007 09/01/2015 09/15/2015 09/08/2014 09/22/2015 09/28/2015 09/14/2015 09/24/2015 03/17/2014 09/28/2015 09/30/2015 09/21/2015 2010-2011 07/06/2010 07/15/2010 07/26/2010 07/28/2010 07/30/2010 07/01/2010 07/01/2010 07/29/2010 07/31/2010 07/31/2010 08/10/2010 08/12/2010 08/23/2010 08/26/2010 08/09/2010 08/15/2010 FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA CN CN CN TR TR FA FA FA TR CN CN FHLB FHLB FNMA FHLB FNMA FHLB FNMA FNMA FHLB FNMA FNMA FNMA FFCB FHLB FNMA FHLB WAL-MART WAL-MART US BANCORP US TREASURY US TREASURY FHLB FHLB FHLMC US TREASURY WELLS FARGO WAL-MART 10/01/2010 10/15/2010 03/08/2011 10/22/2010 03/28/2011 09/14/2012 03/24/2011 03/17/2011 10/28/2010 03/30/201 1 03/21/2011 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 08/12/2008 N/A N/A N/A N/A 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 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 34,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 2,550,000.00 1,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 3,000,000.00 3,000,000.00 4,000,000.00 2,000,000.00 3,000,000.00 2.000% 1.5% STEP 1.500% 2.000% 2.000% 1 .740% 1.500% 1.300% 1.500% 2.000% 2.000% 5.125% 3.200% 4.440% 4.700% 5.000% 4.125% 4.125% 4.500% 2.750% 2.750% 4.700% 3.190% 5.125% 0.000% 4.625% 4.750% 2,000,000.00 1,997,500.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,998,000.00 2,000,000.00 2,000,000.00 34,262,180.00 1,000,640.00 1,000,000.00 1,043,000.00 3,134,430.00 2,688,248.25 991,910.00 2,060,389.92 2,952,150.09 3,077,578.13 2,042,343.75 1,009,328.80 3,000,000.00 3,048,120.00 3,994,500.00 2,063,614.72 3,002,689.16 2.000% 2.022% 1 .500% 2.000% 2.000% 1 .740% 1.500% 1.300% 2.101% 2.000% 2.000% 1.877% 5.100% 3.200% 2.559% 2.786% 2.710% 4.448% 2.750% 4.900% 0.501% 0.317% 4.337% 3.190% 4.530% 0.183% 3.300% 4.720% 200,000.00 203,750.00 100,000.00 200,000.00 200,444.44 174,000.00 150,000.00 91,000.00 212,000.00 200,000.00 200,000.00 3,034,883.05 150,405.14 64,000.00 62,326.67 209,453.33 175,897.58 118,090.00 127,985.08 653,849.91 17,684.30 5,631.79 121,226.76 239,250.00 402,452.92 5,500.00 169,690.84 483,790.01 2,200,000.00 2,201,250.00 2,100,000.00 2,200,000.00 2,200,444.44 2,174,000.00 2,150,000.00 2,091,000.00 2,210,000.00 2,200,000.00 2,200,000.00 37,297,063.05 1,151,045.14 1,064,000.00 1,105,326.67 3,343,883.33 2,864,145.83 1,110,000.00 2,188,375.00 3,606,000.00 3,095,262.43 2,047,975.54 m 1,130,555.56 :n 3,239,250.00 ro 3,450,572.92 ^ 4,000,000.00 c* 2,233,305.56 3,486,479.17 City of Carlsbad TRANSACTIONS FOR PERIOD: 07/01/10 TO 08/31/10 1st QUARTER 2010-2011 Trans Date Investment Date 10/11/2007 09/28/2007 09/26/2007 05/08/2008 12/05/2008 03/11/2009 09/26/2007 11/24/2009 12/24/2009 07/22/2009 TOTAL FIRST QUARTER CALLS and / or SALES JULY 02/10/2010 12/02/2008 01/11/2010 01/19/2010 12/07/2007 01/19/2010 08/20/2009 08/11/2009 11/04/2009 07/20/2007 AUGUST 08/08/2008 11/05/2009 11/05/2009 02/05/2010 05/19/2010 02/06/2009 02/22/2010 02/11/2010 12/03/2008 01/19/2010 01/20/2010 12/10/2007 01/21/2010 08/21/2009 08/12/2009 11/05/2009 07/30/2007 08/31/2008 11/17/2009 11/25/2009 02/26/2010 05/20/2010 02/27/2009 02/26/2010 Maturity Date 08/15/2010 08/16/2010 09/10/2010 09/10/2010 09/10/2010 09/10/2010 09/13/2010 09/23/2010 09/23/2010 09/23/2010 2010-2011 10/26/2011 07/08/2013 07/19/2012 07/20/2012 07/20/2012 07/21/2014 07/23/2013 07/27/2012 07/30/2014 07/30/2012 08/13/2012 08/17/2012 02/25/2013 08/26/2013 02/26/2015 08/27/2012 08/26/2013 Type CN CN FA FA FA FA FA TR TR TR FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA Security WAL-MART NEW YORK LIFE FHLB FHLB FHLB FHLB FFCB US TREASURY US TREASURY US TREASURY FFCB FFCB FHLMC FNMA FHLB FNMA FHLMC FHLB FNMA FHLB FHLB FHLB FHLB FNMA FNMA FNMA FHLMC Call Date N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 07/06/2010 07/08/2010 07/19/2010 07/20/2010 07/20/2010 07/21/2010 07/23/2010 07/27/2010 07/30/2010 07/30/2010 08/13/2010 08/17/2010 08/25/2010 08/26/2010 08/26/2010 08/27/2010 08/26/2010 Par Value 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 2,000,000.00 5,000,000.00 2,000,000.00 38,550,000.00 4,000,000.00 2,000,000.00 3,000,000.00 1,250,000.00 1,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 1,100,000.00 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 1,000,000.00 Coupon 4.750% 4.625% 5.125% 3.000% 3.375% 1.400% 5.250% 0.000% 0.000% 2.000% 0.950% 4.625% 1.625% 1.500% 5.580% 3.030% 2.400% 2.000% 3.300% 5.520% 4.350% 1 .750% 2.000% 2.050% 2. 125% STEP 2.625% 2.125% Amount (Cost) 1,993,580.00 987,620.00 2,034,188.23 1,994,876.00 2,032,660.00 2,000,000.00 2,041,700.00 1,996,801.67 4,990,520.83 3,052,031.25 39,090,142.82 4,002,000.00 2,053,420.00 3,000,000.00 1,249,375.00 1,037,000.00 1,001,875.00 1,991,200.00 1,988,600.00 1,110,340.00 1,770,000.00 1,999,500.00 2,000,000.00 999,531.25 2,000,000.00 2,007,000.00 2,000,000.00 1,000,000.00 Return Rate 4.870% 5.090% 4.500% 3.115% 2.420% 1 .400% 4.490% 0.193% 0.254% 0.537% 3.017% 0.921% 3.983% 1 .625% 1.520% 4.677% 2.985% 2.518% 2.200% 3.084% 5.520% 4.357% 1 .750% 2.015% 2.050% 3.192% 2.625% 2.125% Interest 276,642.22 145,734.17 268,756.21 145,457.34 86,402.50 41,922.22 269,508.33 3,198.33 9,479.17 19,444.16 3,429,610.72 62,916.67 371,823.06 121,875.00 47,500.00 220,300.00 134,475.00 197,066.67 129,733.33 161,580.83 488,520.00 348,500.00 96,250.00 65,468.75 143,500.00 308,083.33 183,750.00 74,375.00 Investment Return 2,270,222.22 1,133,354.17 2,302,944.44 2,140,333.34 2,119,062.50 2,041,922.22 2,311,208.33 2,000,000.00 5,000,000.00 3,071,475.41 42,519,753.54 4,064,916.67 2,425,243.06 3,121,875.00 1,296,875.00 1,257,300.00 1,136,350.00 2,188,266.67 2,118,333.33 1,271,920.83 2,258,520.00 2,348,000.00 2,096,250.00 1,065,000.00 2,143,500.00 2,315,083.33 2,183,750.00 1,074,375.00 SEPTEMBER 08/10/2009 02/22/2010 02/22/2010 09/04/2009 03/09/2010 03/10/2010 09/07/2012 09/09/2010 09/10/2013 FA FA FA FNMA FNMA FHLB 09/07/2010 09/09/2010 09/10/2010 2,000,000.00 1,000,000.00 1,000,000.00 2.500% 3.000% 2.100% 2,000,000.00 1,000,000.00 1,000,000.00 2.500% 3.000% 2.100% 150,416.67 150,000.00 73,500.00 2,150,416.67 1,150,000.00 1,073,500.00 TOTAL FIRST QUARTER 2010-2011 35,120,000.00 35,209,841.25 2.592% 3,529,634.31 38,739,475.56 INVESTMENT REPORT AS OF AUGUST 31, 2010 o INVESTMENT DATE 09/26/2007 05/08/2008 12/05/2008 03/11/2009 09/26/2007 06/01/2009 05/05/2008 04/22/2009 06/03/2009 06/01/2009 06/03/2009 12/05/2008 02/20/2008 05/11/2009 06/22/2009 08/31/2007 05/08/2008 09/17/2008 03/09/2007 08/01/2007 08/31/2007 05/08/2008 03/31/2009 05/11/2009 12/30/2009 06/29/2009 10/01/2009 03/19/2007 01/23/2009 06/22/2009 03/05/2007 03/15/2007 01/23/2009 10/30/2007 12/08/2009 03/15/2007 12/07/2009 12/08/2009 03/19/2007 12/30/2009 12/09/2009 06/29/2009 05/21/2007 05/17/2010 07/25/2007 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 FHLB5.125% NON-CALL FHLB3.00% NON-CALL FHLB 3.375% NON-CALL FHLB 1.4% NON-CALL FFCB5.25% NON-CALL 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 FHLMC4.50% NON-CALL FHLB 2.875% NON-CALL FHLB 1.375% NON-CALL FHLB 1.125% NON-CALL FHLB 5.275% NON-CALL FHLB 5.25% NON-CALL FHLB 5.25% NON-CALL FNMA3.64% NON-CALL FAMCA5.50% NON-CALL FAMCA5.50% NON-CALL FAMCA5.5% NON-CALL FFCB 3.625% NON-CALL FAMCA 5.50% NON-CALL FHLMC 5.25% NON-CALL FHLB 1.625% NON-CALL FHLB 1.375% NON-CALL FHLB 5.75% NON-CALL FHLB 5.75% NON-CALL FFCB 3.875% NON-CALL FHLB 5.00% NON-CALL FHLB 5.00% NON-CALL FHLB 5.00% NON-CALL FHLMC 5.50% NON-CALL FFCB 1.128% NON-CALL FHLB 4.875% NON-CALL FHLB 4.25% NON-CALL FHLB 4.25% NON-CALL FHLB 4.875% NON-CALL FNMA 1.0% NON-CALL FFCB .875% NON-CALL FFCB 2.0% NON-CALL FFCB 4.875% NON-CALL FFCB 1.14% CALL 5/17/11 TVA 6.790% NON-CALL 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 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 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 1,737,000.00 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 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 2,000,000.00 INVESTED AMOUNT 2,034,188.23 1,994,876.00 2,032,660.00 2,000,000.00 2,041,700.00 2,014,960.00 1,032,893.26 3,000,000.00 2,101,180.00 2,008,660.00 2,007,180.00 3,119,880.00 2,993,378.76 1,001,350.00 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 1,853,035.07 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 1,061,850.00 2,126,060.00 3,009,690.00 2,994,090.00 997,136.00 4,036,800.00 1,987,880.00 3,000,000.00 2,130,980.00 RETURN RATE 4.500% 3.115% 2.420% 1 .400% 4.490% 0.700% 2.980% 1.125% 0.701% 0.750% 0.800% 2.470% 2.950% 1.305% 1 .420% 4.761% 3.345% 2.720% 4.805% 5.175% 4.781% 3.545% 1.639% 2.050% 0.900% 1.315% 1 .375% 4.800% 1.818% 1 .490% 4.773% 4.730% 1 .958% 4.390% 0.850% 4.720% 1 .020% 0.956% 4.795% 1.105% 1 .020% 1.630% 5.015% 1.140% 5.235% INTEREST 268,756.21 145,457.34 86,402.50 41,922.22 269,508.33 19,276.11 74,901.88 50,625.00 20,104.72 21,906.67 23,270.00 154,245.00 270,402.49 25,653.47 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 25,313.30 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 20,552.78 38,509.44 672,403.75 62,826.67 20,364.00 167,200.00 489,057.50 68,400.00 524,632.22 INVESTMENT RETURN 2,302,944.44 2,140,333.34 2,119,062.50 2,041,922.22 2,311,208.33 2,034,236.11 1,107,795.14 3,050,625.00 2,121,284.72 2,030,566.67 2,030,450.00 3,274,125.00 3,263,781.25 1,027,003.47 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 1,878,348.37 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 1,082,402.78 2,164,569.44 3,682,093.75 3,056,916.67 1,017,500.00 4,204,000.00 2,476,937.50 3,068,400.00 2,655,612.22 TERM (Days) 1,080 855 644 548 1,083 500 900 548 506 532 530 741 1,115 717 711 1,379 1,128 996 1,588 1,444 1,414 1,163 836 795 565 758 673 1,610 934 794 1,649 1,639 959 1,416 664 1,665 708 707 1,705 693 730 932 1,788 731 1,764 mx oo INVESTMENT REPORT AS OF AUGUST 31, 2010 INVESTMENT DATE TYPE SECURITY 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 05/20/2010 FA FHLB 1.375% NON-CALL 10/20/2009 FA FFCB 2.125% NON-CALL 11/25/2009 FA FFCB 5.45% NON-CALL 01/20/2010 FA FHLMC 5.125% NON-CALL 10/19/2009 FA FFCB 1.55% CALL 10/19/10 08/05/2008 FA FFCB 3.950% NON-CALL 03/24/2010 FA FHLB 1.25% NON-CALL 10/27/2009 FA FNMA 1.70% CALL 10/27/10 06/04/2010 FA FHLMC 1.125% NON-CALL 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 03/16/2010 FA FNMA 1.75% NON-CALL 01/29/2009 FA FHLB 4.625% NON-CALL 12/24/2009 FA FHLB 4.625% NON-CALL 06/04/2010 FA FHLB 2.4% NON-CALL 06/04/2010 FA FHLB 1.1 % NON-CALL 09/04/2009 FA FNMA 2.50% CALL 9/7/10 05/05/2008 FA FHLB 5.00% NON-CALL 08/22/2008 FA FHLB 4.5% NON-CALL 06/04/2010 FA FHLB 2.00% NON-CALL 03/08/2010 FA FHLMC 2.125% 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 12/07/2009 FA FNMA 1.875% CALL 10/29/10 06/04/2010 FA FHLB 1.375% NON-CALL 06/03/2008 FA FNMA 6.41% NON-CALL 12/14/2009 FA FHLB 1.0% CALL 12/14/11 STEP 07/01/2010 FA FHLMC 4.125% NON-CALL 01/14/2008 FA FHLB 4.25% CALL 10/14/08 10/20/2009 FA FFCB 5.15% NON-CALL 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 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 PAR VALUE 3,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 5,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 5,000,000.00 1,037,000.00 1,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 4,000,000.00 2,000,000.00 1,175,000.00 1,000,000.00 5,000,000.00 3,000,000.00 1,000,000.00 3,000,000.00 3,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 3,000,000.00 1,807,000.00 1,000,000.00 3,000,000.00 3,000,000.00 1,000,000.00 3,000,000.00 1,000,000.00 2,000,000.00 500,000.00 500,000.00 1,000,000.00 2,000,000.00 1,000,000.00 INVESTED AMOUNT 3,399,498.48 1,005,040.00 1,005,254.43 3,050,958.11 5,036,422.30 3,049,023.21 2,210,347.28 1,092,760.00 2,995,200.00 2,002,900.00 2,000,352.89 998,800.00 5,004,198.09 1,127,519.73 1,015,908.69 1,009,004.81 3,034,050.00 2,150,960.00 1,078,810.00 1,027,049.96 4,000,013.10 2,000,000.00 1,238,814.19 1,022,730.00 5,091,850.00 3,058,800.00 1,003,470.00 3,032,750.01 3,014,100.00 1,063,510.00 2,034,780.00 1,003,900.00 3,012,394.24 1,990,388.82 999,500.00 3,233,040.00 3,000,000.00 1,102,490.00 2,963,940.00 1,009,500.00 2,008,000.00 536,967.86 532,794.50 1,065,788.37 2,130,988.03 1,000,000.00 RETURN RATE 1.534% 5.255% 5.250% 3.900% 1.015% 1.496% 1 .280% 1 .320% 1.610% 3.910% 1 .243% 1 .745% 1 .085% 1.567% 1 .460% 1 .390% 1.268% 2.391% 1.567% 1.150% 1.100% 2.500% 3.640% 3.889% 1.180% 1.336% 1.680% 1.405% 1.824% 1 .928% 4.100% 1.736% 1 .200% 3.890% 1 .673% 0.939% 4.250% 1 .926% 3.765% 2.051% 2.384% 2.100% 2.120% 3.800% 2.450% 2.125% INTEREST 128,989.85 256,692.64 256,478.21 460,552.31 104,515.20 120,622.62 70,024.94 34,653.19 132,675.00 310,466.67 58,188.78 47,950.00 116,583.16 44,578.33 37,466.31 35,717.41 91,950.00 176,901.11 43,367.08 25,683.37 98,253.57 150,416.67 192,237.89 160,020.00 135,927.78 102,877.08 50,180.00 120,099.99 151,566.67 67,701.81 401,970.00 50,370.83 86,720.34 331,405.40 50,500.00 72,897.50 637,500.00 67,316.94 560,476.67 68,180.56 172,833.33 39,296.03 40,094.39 181,163.02 195,081.41 74,375.00 INVESTMENT RETURN 3,528,488.33 1,261,732.64 1,261,732.64 3,511,510.42 5,140,937.50 3,169,645.83 2,280,372.22 1,127,413.19 3,127,875.00 2,313,366.67 2,058,541.67 1,046,750.00 5,120,781.25 1,172,098.06 1,053,375.00 1,044,722.22 3,126,000.00 2,327,861.11 1,122,177.08 1,052,733.33 4,098,266.67 2,150,416.67 1,431,052.08 1,182,750.00 5,227,777.78 3,161,677.08 1,053,650.00 3,152,850.00 3,165,666.67 1,131,211.81 2,436,750.00 1 ,054,270.83 3,099,114.58 2,321,794.22 1,050,000.00 3,305,937.50 3,637,500.00 1,169,806.94 3,524,416.67 1,077,680.56 2,180,833.33 576,263.89 572,888.89 1,246,951.39 2,326,069.44 1,074,375.00 TERM (Days) 947 1,780 1,780 1,424 750 972 939 907 1,004 1,448 856 1,004 784 952 928 933 878 1,294 965 803 816 1,099 1,593 1,484 833 928 1,089 1,034 1,009 1,238 1,773 1,057 878 1,624 1,096 904 1,827 1,206 1,824 1,206 1,321 1,310 1,331 1,677 1,401 1,278 INVESTMENT REPORT AS OF AUGUST 31, 2010 INVESTMENT DATE 05/25/2010 12/28/2009 08/27/2008 01/26/2010 02/19/2010 08/19/2009 11/12/2008 03/10/2010 12/17/2008 03/24/2010 02/23/2010 04/15/2010 10/19/2009 11/26/2008 01/20/2009 02/12/2010 02/12/2010 03/24/2010 10/20/2009 06/04/2010 06/08/2010 03/24/2010 03/24/2010 03/22/2010 03/24/2010 09/24/2009 06/04/2010 04/22/2010 03/09/2010 03/12/2010 07/29/2010 06/04/2010 07/01/2010 08/18/2010 08/25/2010 03/12/2009 02/11/2009 02/18/2009 02/25/2009 03/02/2009 03/02/2009 03/09/2010 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 FN FN FN FN FN FN FN SECURITY FFCB 1.375% NON-CALL FHLB 1.85% NON-CALL FNMA 4.375% NON-CALL FHLB 2.125% CALL 1/26/11 FHLMC 1.0% CALL 2/15/11 FFCB 2.7% NON-CALL FHLB 4.0% NON-CALL FHLB 2.1% CALL FHLB 4.375% NON-CALL FHLMC 4.125% NON-CALL FFCB 3.875% NON-CALL FHLB 2.00% NON-CALL FFCB 5.350% NON-CALL FHLB 3.5% CALL 11/26/10 FHLB 3.125% NON-CALL FFCB 3.00% NON-CALL FNMA2.125% CALL 10/28/11 FHLB 2.5% NON-CALL FFCB 4.375% NON-CALL FNMA 3.00% CALL 7/28/11 FNMA 3.00% CALL 7/28/11 FHLB 5.5% NON-CALL FHLB 5.25% NON-CALL FNMA 2.570% CALL FFCB 3.0% NON-CALL FNMA 2.0% CALL 9/23/11 STEP FNMA 3.125% CALL 9/29/10 FHLB 2.0% CALL 10/28/11 STEP FNMA 3.0% CALL FHLMC 1.0% STEP CALL 3/23/11 FFCB 2.12% CALL 10/28/10 CONTINUOS FNMA 2.00% CALL 10/29/12 STEP FHLMC 3.0% CALL 11/26/10 FNMA 1.50% CALL 8/18/11 FHLB 1.82% CALL 8/24/11 QRTLY FICO STRIP 0.00% NON-CALL FICO STRIP 0.00% NON-CALL FICO STRIP 0.00% NON-CALL FICO STRIP 0.00% NON-CALL FICO 0.0% NON-CALL FICO 0.0% NON-CALL FICO 0.0% NON-CALL PAR VALUE 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 3,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 4,000,000.00 IUOS 2,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 SUB-TOTAL 255,385,000.00 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 INVESTED AMOUNT 1,993,760.00 1,987,226.45 2,035,600.00 2,000,000.00 1,000,000.00 1,005,669.88 1,007,890.00 1,000,000.00 2,154,940.00 3,222,330.00 1,065,180.00 2,000,000.00 2,235,072.36 2,000,000.00 2,047,941.08 1,028,536.49 1,014,759.55 3,016,423.52 3,234,480.00 2,037,406.00 2,040,000.00 3,395,255.41 2,231,960.00 2,000,000.00 2,047,400.80 3,000,000.00 2,017,420.00 2,015,640.00 1,000,000.00 4,000,000.00 2,001,080.00 2,018,771.34 3,027,060.00 1,999,500.00 2,006,000.00 261,592,368.86 956,370.00 1,889,240.00 916,713.56 1,826,280.00 1,818,680.00 1,793,820.00 1,882,080.00 RETURN RATE 1 .479% 2.040% 3.970% 2.125% 2.054% 2.550% 3.818% 2.100% 2.625% 1 .930% 2.000% 2.000% 2.264% 4.361% 2.600% 2.250% 3.167% 2.363% 2.595% 2.522% 2.488% 2.323% 2.490% 2.570% 2.440% 3.163% 2.908% 2.950% 3.000% 3.400% 2.108% 2.780% 2.801% 2.375% 1.757% 2.434% 2.200% 2.300% 2.710% 2.850% 3.000% 3.050% 1.850% INTEREST 91,031.67 142,273.55 392,177.78 148,750.00 72,388.89 102,330.12 184,776.67 73,500.00 259,712.78 211,826.25 75,181.11 140,000.00 193,522.08 440,000.00 258,135.31 91,463.51 121,601.56 300,034.82 381,665.83 211,594.00 208,333.33 328,452.92 237,040.00 231,300.00 222,265.87 479,833.33 252,545.28 270,026.67 150,000.00 680,000.00 200,202.22 277,339.77 414,190.00 240,500.00 175,898.89 23,857,917.13 43,630.00 110,760.00 83,286.44 173,720.00 181,320.00 206,180.00 117,920.00 INVESTMENT RETURN 2,084,791.67 2,129,500.00 2,427,777.78 2,148,750.00 1 ,072,388.89 1,108,000.00 1,192,666.67 1,073,500.00 2,414,652.78 3,434,156.25 1,140,361.11 2,140,000.00 2,428,594.44 2,440,000.00 2,306,076.39 1,120,000.00 1,136,361.11 3,316,458.34 3,616,145.83 2,249,000.00 2,248,333.33 3,723,708.33 2,469,000.00 2,231,300.00 2,269,666.67 3,479,833.33 2,269,965.28 2,285,666.67 1,150,000.00 4,680,000.00 2,201,282.22 2,296,111.11 3,441,250.00 2,240,000.00 2,181,898.89 285,450,285.99 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 TERM (Days) 1,127 1,278 1,785 1,277 1,273 1,461 1,759 1,280 1,731 1,283 1,322 1,279 1,463 1,826 1,788 1,461 1,536 1,542 1,714 1,515 1,511 1,603 1,633 1,645 1,643 1,825 1,578 1,650 1,826 1,837 1,734 1,790 1,790 1,826 1,825 1,226 744 908 1,178 1,171 1,166 1,314 1,206 INVESTMENT REPORT AS OF AUGUST 31, 2010 INVESTMENT DATE 11/24/2009 12/24/2009 07/22/2009 09/02/2009 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 03/24/2010 11/10/2008 11/12/2008 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 TYPE TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR TR CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN SECURITY SUB-TOTAL Federal Investments Total US TREASURY 00% US TREASURY 00% US TREASURY 2.00% US TREASURY 1.50% 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 1.00% US TREASURY 3.125% US TREASURY 3.125% SUB-TOTAL 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 FUNDING5.125% 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 PAR VALUE 12,000,000.00 267,385,000.00 2,000,000.00 5,000,000.00 3,000,000.00 5,000,000.00 2,000,000.00 4,000,000.00 5,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 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 8,000,000.00 1,000,000.00 1,000,000.00 77,000,000.00 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 INVESTED AMOUNT 11,083,183.56 272,675,552.42 1,996,801.67 4,990,520.83 3,052,031.25 5,062,500.00 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 8,025,312.50 1,031,328.00 1,030,781.25 77,477,882.80 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 RETURN RATE 2.576% 0.193% 0.254% 0.537% 0.419% 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% 0.801% 2.430% 2.452% 0.589% 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% INTEREST 916,816.44 24,774,733.57 3,198.33 9,479.17 19,444.16 24,524.46 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 31,797.03 102,864.30 118,792.86 121,777.13 820,181.16 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 INVESTMENT RETURN 12,000,000.00 297,450,285.99 2,000,000.00 5,000,000.00 3,071,475.41 5,087,024.46 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 8,128,176.80 1,150,120.86 1,152,558.38 78,298,063.96 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 TERM (Days) 1,098 2,324 303 273 435 424 341 302 454 371 322 487 469 497 456 580 644 610 583 557 645 584 586 1,755 1,783 585 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 INVESTMENT REPORT AS OF AUGUST 31, 2010 INVESTMENT DATE 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 05/29/2009 05/20/2010 TYPE CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN 0 O O O O O O O SECURITY 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 WAL-MART 3.20% NON-CALL MICROSOFT 2.95% 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 DALL ,LL 1L ML CALL CALL CALL ALL sl-CALL I-CALL I-CALL i% NON-CALi i% NON-CALi L _L J.L SUB-TOTAL T ACCOUNT iRPORATION 5RATION SUB-TOTAL PAR VALUE 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 1,000,000.00 2,000,000.00 82,631,000.00 1,314,418.00 2,491,507.37 408.70 64,750.00 35,806,864.09 26,769,997.07 27,281,215.94 31,261,000.00 124,990,161.17 INVESTED AMOUNT 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 1,003,190.00 2,072,820.00 84,531,664.57 1,314,418.00 2,491,507.37 408.70 64,750.00 35,806,864.09 26,769,997.07 27,281,215.94 31,261,000.00 124,990,161.17 RETURN RATE 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% 3.130% 2.005% 4.202% 0.100% 0.100% 0.000% 0.050% 0.520% 0.520% 0.520% 0.520% 0.507% INTEREST 409,960.65 187,485.39 104,626.16 96,769.38 198,882.22 178,375.00 253,896.02 189,541.49 107,473.33 605,158.33 237,753.83 484,836.30 449,799.83 205,539.76 251,024.46 485,410.46 118,982.59 504,981.86 225,850.34 177,542.10 251,186.41 155,565.56 164,982.78 15,024,073.19 3.60 6.83 - 0.09 517.21 386.68 394.06 451.55 1,760.01 INVESTMENT RETURN 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 1,158,755.56 2,237,802.78 99,555,737.76 1,314,421.60 2,491,514.20 408.70 64,750.09 35,807,381.30 26,770,383.75 27,281,610.00 31,261,451.55 124,991,921.18 TERM (Days) 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 1,812 1,473 1,448 1 1 1 1 1 1 1 1 GRAND TOTAL 552,006,161.17 559,675,260.96 2.018% 40,620,747.93 600,296,008.89 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF AUGUST 31, 2010 Cash Balance by Fund: General 59,604,370 Special Revenue 49,924,220 Debt Service 0 Capital Projects: General Capital Construction 67,604,573 Traffic Impact Fees 16,838,603 Public Facilities Fees 44,428,519 Park Development 2,406,349 Transnet Taxes 3,294,694 Drainage Fees 6,360,348 Special Districts 72,174,589 Infrastructure Replacement 61,222,515 Redevelopment 4,701,160 Other Capital Construction 5,442,244 Total 284,473,595 Enterprise: Carlsbad Municipal Water District 66,768,192 Sewer Fund 47,631,342 Solid Waste 7,082,484 Storm Water 1,930,691 Golf Course 214,714 Total 123,627,422 Internal Service 28,828,419 Agency Funds 12,625,565 Misc. Special Funds 0 Total General Ledger Balance ** 559,083,591 Reconciling Adjustments (1) (2,545,934) Total Treasurer's Investment Portfolio at Amortized Cost 556,537,657 (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 9/08/10 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of August 31, 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 AAA AA2 AA1 AA2 AAA AA3 AAA AAA AAA AAA AA2 AA1 AA2 AAA AA- AA AA+ AAA AA- AAA AAA AA- AAA AA- AA AA BARCLAYS BANK BERKSHIRE HATHAWAY CHEVRON GENERAL ELECTRIC JOHNSONS JOHNSON MET LIFE GLOBAL MICROSOFT NEW YORK LIFE ROYAL BANK OF CANADA SUNTRUST BANK 3M TOYOTA 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 HOME DEPOT PRINCIPAL LIFE PROTECTIVE LIFE WELLS FARGO Moody's A1 A3 A2 BAA1 AA3 A2 S&P AA- A A BBB+ A+ AA- Purchased 05/30/2008 06/20/2006 05/07/2008 06/12/2006 04/30/2008 07/17/2008 Carrying Value 2,012,765 8,996,262 2,005,148 2,997,389 1,000,000 3,000,000 Market Value 2,207,880 9,176,670 2,047,300 3,062,160 1,020,580 3,138,870 A1 AA- 01/30/2008 2,029,431 2,121,690 * 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. EXHIBIT 10 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF AUGUST 31, 2010 WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER ALL STATE LIFE BARCLAYS BANK BERKSHIRE HATHAWAY CHEVRON CITIGROUP GENERAL ELECTRIC CAP GENWORTH GLOBAL HOME DEPOT JOHNSONS, JOHNSON MET LIFE GLOBAL FUND MICROSOFT NEW YORK LIFE PRINCIPAL LIFE PROTECTIVE LIFE ROYAL BANK OF CANADA SUNTRUST BANK 3M TOYOTA WAL-MART WELLS FARGO PERCENTAGE WEIGHTINGS BY FEDERAL 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 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 2,974,590.00 1,017,457.28 4,043,114.52 2,072,820.00 1,006,649.66 1,000,000.00 3,000,000.00 1,066,260.00 2,066,260.00 2,121,417.76 8,559,850.00 2,051,019.91 2,075,734.23 AGENCY ISSUER Investment Cost 7,884,746.01 11,083,183.55 51,317,450.13 121,745,228.47 38,883,775.52 36,230,690.25 5,530,478.48 77,477,882.80 Percent of Portfolii 0.36% 0.28% 0.73% 0.55% 1.97% 4.94% 0.36% 0.53% 0.18% 0.72% 0.37% 0.18% 0.18% 0.54% 0.19% 0.37% 0.38% 1.53% 0.37% 0.37% Percent of Portfolio** 1.41% 1.98% 9.17% 21.75% 6.95% 6.47% 0.99% 13.84% $559,675,260.96 * No more than 5% may be invested with a single corporate issuer. "There are no percentage limits on federal agency issuers.17