HomeMy WebLinkAbout2010-11-23; City Council; 20399; REPORT ON CITY INVESTMENTS AS OF SEPT 30 2010CITY OF CARLSBAD - AGENDA BILL
AB# 20,399
MTG. 11/23/2010
DEPT. TRS
REPORT ON CITY INVESTMENTS
AS OF SEPTEMBER 30, 2010
DEPT. HEAD( /SP,
CITYATTY. (@S
CITY MGR. LO
RECOMMENDED ACTION:
Accept and file report.
ITEM EXPLANATION:
The City's Investment Policy requires the City Treasurer to report to the City Council on a monthly
basis the status of the City's pooled investment portfolio. A quarterly report is also required for
the investments of bond proceeds held separately. The City's pooled investment portfolio as of
the month ended September 30, 2010 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Par Value
Cost of Investments
Amortized Cost (1)
Market Value (2)
Current Month
552,868,184
560,355,106
557,146,637
566,703,262
Prior Month
552,006,161
559,675,261
556,537,657
566,022,970
(1) The cost of investments adjusted for amortized premiums and discounts.
(2) The amount at which the investments could be sold. Source of market values is Union Bank
of California's custodial report as of 9/30/10.
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)
General Special Revenue
$58 „ $49.3
Internal Service $29
Agency $n
Enterprise $124.8
Capital Projects
$284
Total Treasurer's Investment Portfolio at Amortized Cost
September 30,2010 $557.1 million
FOR CITY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED ^ -
DENIED D
CONTINUED D
WITHDRAWN D
AMENDED D
CONTINUED TO DATE SPECIFIC
CONTINUED TO DATE UNKNOWN
RETURNED TO STAFF
OTHER -SEE MINUTES
D
D
D
D
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan@carlsbadca.gov
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF SEPTEMBER 30. 2010
Pooled Investment Interest Income
Cash Income Fiscal
Year-to-Date *
Current
Month FYTD
4,416,924
Prior
Month FYTD
3,064,651
Current Month
Income
1,352,272
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
July 2010
August 2010
September 2010
Average Life
(Years)
1.39
1.32
1.50
Average Yield
To Maturity
2.12%
2.02%
2.02%
Modified Duration
1.342
1.270
1.444
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.
Investment Portfolio for Bond Proceeds
Par Value
Cost
Current Quarter
17,639,296
17,639,296
Prior Quarter
21,541,369
21,541,369
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
EXHIBIT FOR INVESTMENTS OF BOND PROCEEDS HELD SEPARATELY:
11. Detailed Investment Report - Quarterly Report
EXHIBIT FOR SUMMARY OF OUTSTANDING HOUSING LOANS:
12. Detail Of Outstanding Housing Loans - Quarterly Report
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF SEPTEMBER 30, 2010
BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS
AMORTIZED COST MARKET VALUE AVERAGE YIELD
Class
CD
FN
CP
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANKACCT
Current Month
0
11,518,238
0
67,155,240
273,090,467
85,530,508
117,713,213
194
1,796,717
342,060
Prior Month 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
0
11,836,780
0
67,409,990
278,925,361
88,678,947
117,713,213
194
1,796,717
342,060
Prior Month
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
Cash Income
Year to Date Current Month Prior Month
0
0
0
231,875
2,834,749
1,274,720
74,977
9
593
0
0.00
2.58
0.00
0.63
2.33
4.16
0.52
0.05
0.10
0.10
0.00
2.58
0.00
0.59
2.43
4.20
0.52
0.05
0.10
0.10
TOTALS $557,146,637 $556,537,657 $566,703,262 $566,022,970 $4,416,924 2.02%2.02%
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
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CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF SEPTEMBER 30, 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
956,370
0
34,215,211
18,278,132
11,935,830
117,713,213
194
1,796,717
342,060
$185,237,726 (1)
33.1%
Year
7 MONTHS TO 1 YEAR
0
1,889,240
0
23,135,897
38,500,826
16,302,880
0
0
0
0
$79,828,842 (1)
14.3%
$265,066,569 (1)
1 TO 5 YEARS
0
8,237,574
0
10,087,422
218,670,587
58,292,955
0
0
0
0
$295,288,537
52.7%
TOTAL
0
11,083,184
0
67,438,529
275,449,545
86,531,665
117,713,213
194
1,796,717
342,060
$560,355,106
100.0%
% TOTAL
0.0%
2.0%
0.0%
12.0%
49.2%
15.4% (2)
21.0%
0.0%
0.3%
0.1%
100.0%
POLICY:
47.3%
(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:ri—i
DO
YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1998 - SEPTEMBER 2010
MARKET YIELD CURVE
6/30/09, 6/30/10, 9/30/10
Market Rates
3Mth 2Yr 5Yr
3Mth 2Yr 5Yr 10 Yr
-—06/30/2009
-*- 06/30/2010
-^•09/30/2010
.18
.17
.15
1.11
.60
.42
2.55
1.77
1.26
3.53
2.93
2.51
10 Yr
Xn:i—i
CD
Cumulative Cash Income
FY10-11
Cumulative Monthly Interest IncomeMillions $ (September 2010) Millions $
16
14
12
10
8
6
4
2
n
0
^^^
— •
^^^
1.73 ^"^
1 34 ,_^^ + „_'•°* jr 1.35
x^s
U
41
_ n
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
czulnterest Income --^-Budget Actual
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City of Carlsbad
TRANSACTIONS FOR PERIOD:
07/01/10 TO 09/30/2010 1st QUARTER 2010-2011
Trans
Date
BUYS
JULY
06/30/2010
06/30/2010
07/28/2010
AUGUST
08/04/2010
08/24/2010
SEPTEMBER
08/16/2010
08/17/2010
08/26/2010
09/09/2010
08/26/2010
08/27/2010
08/31/2010
09/07/2010
09/01/2010
08/31/2010
09/02/2010
09/02/2010
09/03/2010
09/09/2010
09/15/2010
09/10/2001
09/17/2010
09/30/2010
09/24/2010
TOTAL FIRST
MATURITIES
JULY
AUGUST
Investment
Date
07/01/2010
07/01/2010
07/29/2010
08/18/2010
08/25/2010
09/01/2010
09/15/2010
09/08/2010
09/10/2010
09/22/2010
09/24/2010
09/14/2015
09/14/2010
09/24/2010
09/14/2010
09/28/2010
09/30/2010
09/21/2010
09/30/2010
09/23/2010
09/30/2010
09/20/2010
09/30/2010
09/27/2010
Type
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
CN
FA
FA
FA
FA
FA
Security
FHLMC
FHLMC
FFCB
FNMA
FHLB
FHLB
FHLB
FNMA
FNMA
FHLB
FNMA
FHLB
FFCB
FNMA
FNMA
FHLB
FNMA
FNMA
ROYAL BANK OF CANADA
FHLB
FNMA
FNMA
FFCB
FHLB
Call
Date
N/A
11/26/2010
10/28/2010
08/18/2011
08/24/2011
10/01/2010
10/15/2010
03/08/2011
09/09/201 1
10/22/2010
03/28/201 1
09/14/2012
03/14/2011
03/24/201 1
03/17/2011
10/28/2010
03/30/2011
03/21/2011
03/30/2011
03/23/2011
03/30/2011
01/14/2011
09/30/201 1
10/14/2010
QUARTER 201 0-2011
07/25/2007
07/15/2008
03/12/2008
02/20/2008
02/13/2008
1 1/01/2007
03/19/2008
02/03/2006
06/05/2009
09/16/2009
10/30/2007
02/12/2008
09/18/2007
11/24/2009
FA
FA
FA
FA
FA
CN
CN
CN
TR
TR
FA
FA
FA
TR
FNMA
FFCB
FHLB
FNMA
FHLB
WAL-MART
WAL-MART
US BANCORP
US TREASURY
US TREASURY
FHLB
FHLB
FHLMC
US TREASURY
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
Par
Value
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
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
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
50,000,000.00
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
Coupon
4.125%
3.000%
2.120%
1.5% STEP
1.820%
2.000%
1.5% STEP
1.500%
1.850%
2.000%
2.000%
1 .740%
1 .875%
1.5% STEP
1.300%
1.5% STEP
2.000%
2.000%
1.75%STEP
1.125%
1.600%
2.350%
1 .990%
1.300%
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%
Amount
(Cost)
3,233,040.00
3,027,060.00
2,001,080.00
1,999,500.00
2,006,000.00
2,000,000.00
1,997,500.00
2,000,000.00
1,999,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
1,998,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
1,999,000.00
2,009,120.00
1,999,000.00
2,000,000.00
50,268,300.00
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
Return
Rate
0.939%
2.801%
2.108%
2.375%
1.757%
2.000%
2.022%
1.500%
1.861%
2.000%
2.000%
1.740%
1 .875%
2.030%
1.300%
2.101%
2.000%
2.000%
2.255%
1.125%
1.613%
2.240%
2.001%
1 .300%
1 .869%
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%
Interest
72,897.50
414,190.00
200,202.22
240,500.00
175,898.89
200,000.00
203,750.00
120,000.00
185,897.22
200,000.00
200,444.44
174,000.00
187,500.00
205,000.00
91,000.00
212,000.00
200,000.00
200,000.00
227,000.00
67,500.00
161,000.00
217,263.33
200,000.00
90,061.11
4,446,104.71
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
Investment
Return
3,305,937.50
3,441,250.00
2,201,282.22
2,240,000.00
2,181,898.89
2,200,000.00
2,201,250.00
2,120,000.00
2,184,897.22
2,200,000.00
2,200,444.44
2,174,000.00
2,187,500.00
2,205,000.00
2,091,000.00
2,210,000.00
2,200,000.00
2,200,000.00
2,227,000.00
2,067,500.00
2,160,000.00
2,226,383.33
2,199,000.00
2,090,061.11
54,714,404.71
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
1,130,555.56
3,239,250.00
3,450,572.92
4,000,000.00
m
X~i~i — i
CO1 — 1
— 1
01
City of Carlsbad
TRANSACTIONS FOR PERIOD:
07/01/10 TO 09/30/2010 1st QUARTER 2010-2011
Trans
Date
SEPTEMBER
TOTAL FIRST
Investment
Date
01/31/2008
03/16/2007
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
Type
CN
CN
CN
CN
FA
FA
FA
FA
FA
TR
TR
TR
Securil
WELLS FARGO
WAL-MART
WAL-MART
NEW YORK LIFE
FHLB
FHLB
FHLB
FHLB
FFCB
US TREASURY
US TREASURY
US TREASURY
QUARTER 201 0-2011
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
SEPTEMBER
08/10/2009
02/22/2010
02/22/2010
11/24/2009
03/04/2010
12/23/2009
06/03/2010
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
09/04/2009
03/09/2010
03/10/2010
11/25/2009
03/22/2010
12/24/2009
06/04/2010
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FFCB
FFCB
FHLMC
FNMA
FHLB
FNMA
FHLMC
FHLB
FNMA
FHLB
FHLB
FHLB
FHLB
FNMA
FNMA
FNMA
FHLMC
FNMA
FNMA
FHLB
FHLB
FNMA
FHLMC
FNMA
TOTAL FIRST QUARTER 2010-2011
Call
Date
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
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
09/07/2010
09/09/2010
09/10/2010
09/15/2010
09/22/2010
09/28/2010
09/29/2010
Par
Value
2,000,000.00
3,000,000.00
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
2,000,000.00
5,000,000.00
3,000,000.00
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
2,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
Coupon
4.625%
4.750%
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%
2.500%
3.000%
2.100%
2.350%
2.570%
2.000%
3.125%
Amount
(Cost)
2,063,614.72
3,002,689.16
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
2,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
3,014,100.00
2,017,420.00
Return
Rate
3.300%
4.720%
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%
2.500%
3.000%
2.100%
2.051%
2.570%
1.824%
2.908%
Interest
169,690.84
483,790.01
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
150,416.67
150,000.00
73,500.00
77,680.56
231,300.00
151,566.67
252,545.28
Investment
Return
2,233,305.56
3,486,479.17
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
2,150,416.67
1,150,000.00
1,073,500.00
1 ,077,680.56
2,231,300.00
3,165,666.67
2,269,965.28
43,120,000.00 43,241,361.25 2.540% 4,242,726.82 47,484,088.07
INVESTMENT REPORT
AS OF SEPTEMBER 30, 2010
INVESTMENT
DATE
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
10/19/2009
07/25/2007
07/25/2007
07/15/2008
05/20/2010
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
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
SECURITY
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
TVA 6.790% NON-CALL
FHLB 5.375% NON-CALL
FHLB 5.375% NON-CALL
FHLB 4.375% NON-CALL
FHLB 1.375% NON-CALL
PAR
VALUE
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
3,000,000.00
1,000,000.00
1,000,000.00
3,000,000.00
5,000,000.00
INVESTED
AMOUNT
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
3,399,498.48
1,005,040.00
1,005,254.43
3,050,958.11
5,036,422.30
RETURN
RATE
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%
1 .534%
5.255%
5.250%
3.900%
1.015%
INTEREST
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
128,989.85
256,692.64
256,478.21
460,552.31
104,515.20
INVESTMENT
RETURN
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
3,528,488.33
1,261,732.64
1,261,732.64
3,511,510.42
5,140,937.50
TERM
(Days)
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
947
1,780
1,780
1,424
750
xrei—i
DO
INVESTMENT REPORT
AS OF SEPTEMBER 30, 2010
INVESTMENT
DATE TYPE SECURITY
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
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
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
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
05/25/2010 FA FFCB 1.375% NON-CALL
12/28/2009 FA FHLB 1.85% NON-CALL
08/27/2008 FA FNMA 4.375% NON-CALL
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
11/12/2008 FA FHLB 4.0% NON-CALL
12/17/2008 FA FHLB 4.375% NON-CALL
PAR
VALUE
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
1,175,000.00
1 ,000,000.00
5,000,000.00
3,000,000.00
1,000,000.00
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
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
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
INVESTED
AMOUNT
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
1,238,814.19
1,022,730.00
5,091,850.00
3,058,800.00
1,003,470.00
3,032,750.01
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
2,008,000.00
536,967.86
532,794.50
1,065,788.37
2,130,988.03
1,000,000.00
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
2,154,940.00
RETURN
RATE
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%
3.640%
3.889%
1.180%
1 .336%
1 .680%
1 .405%
1 .928%
4.100%
1 .736%
1.200%
3.890%
1.673%
0.939%
4.250%
1.926%
3.765%
2.384%
2.100%
2.120%
3.800%
2.450%
2.125%
1.479%
2.040%
3.970%
2.125%
2.054%
2.550%
3.818%
2.625%
INTEREST
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
192,237.89
160,020.00
135,927.78
102,877.08
50,180.00
120,099.99
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
172,833.33
39,296.03
40,094.39
181,163.02
195,081.41
74,375.00
91,031.67
142,273.55
392,177.78
148,750.00
72,388.89
102,330.12
184,776.67
259,712.78
INVESTMENT
RETURN
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
1,431,052.08
1,182,750.00
5,227,777.78
3,161,677.08
1,053,650.00
3,152,850.00
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
2,180,833.33
576,263.89
572,888.89
1,246,951.39
2,326,069.44
1 ,074,375.00
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
2,414,652.78
TERM
(Days)
972
939
907
1,004
1,448
856
1,004
784
952
928
933
878
1,294
965
803
816
1,593
1,484
833
928
1,089
1,034
1,238
1,773
1,057
878
1,624
1,096
904
1,827
1,206
1,824
1,321
1,310
1,331
1,677
1,401
1,278
1,127
1,278
1,785
1,277
1,273
1,461
1,759
1,731
INVESTMENT REPORT
AS OF SEPTEMBER 30, 2010
INVESTMENT
DATE TYPE SECURITY
03/24/2010 FA FHLMC 4.125% NON-CALL
02/23/2010 FA FFCB 3.875% NON-CALL
04/15/2010 FA FHLB 2.00% NON-CALL
10/19/2009 FA FFCB 5.350% NON-CALL
11/26/2008 FA FHLB 3.5% CALL 11/26/10
01/20/2009 FA FHLB 3.125% NON-CALL
02/12/2010 FA FFCB 3.00% NON-CALL
09/27/2010 FA FHLB 1.3% CALL 10/14/10 CONTINUOUS
09/17/2010 FA FNMA 1.3% CALL 3/17/11
02/12/2010 FA FNMA 2.125% CALL 10/28/11
03/24/2010 FA FHLB 2.5% NON-CALL
10/20/2009 FA FFCB 4.375% NON-CALL
06/04/2010 FA FNMA 3.00% CALL 7/28/11
06/08/2010 FA FNMA 3.00% CALL 7/28/11
03/24/2010 FA FHLB 5.5% NON-CALL
09/08/2010 FA FNMA 1.50% CALL 3/8/11
03/24/2010 FA FHLB 5.25% NON-CALL
03/24/2010 FA FFCB 3.0% NON-CALL
09/24/2009 FA FNMA 2.0% CALL 9/23/11 STEP
09/30/2010 FA FNMA 1.6% CALL 3/30/11
04/22/2010 FA FHLB 2.0% CALL 10/28/11 STEP
03/12/2010 FA FHLMC 1.0% STEP CALL 3/23/11
07/29/2010 FA FFCB 2.12% CALL 10/28/10 CONTINUOS
06/04/2010 FA FNMA 2.00% CALL 10/29/12 STEP
07/01/2010 FA FHLMC 3.0% CALL 11/26/10
09/20/2010 FA FNMA 2.35% CALL 1/14/11
08/18/2010 FA FNMA 1.50% CALL 8/18/11
08/25/2010 FA FHLB 1.82% CALL 8/24/11 QRTLY
09/01/2010 FA FHLB 2.0% CALL 10/01/10
09/10/2010 FA FNMA 1.85% CALL 9/9/11
09/14/2010 FA FHLB 1.74% CALL 9/14/12
09/14/2010 FA FFCB 1.875% CALL 3/14/11
09/15/2010 FA FHLB 1.5% CALL 10/15/10
09/21/2010 FA FNMA 2.0% CALL 3/21/11
09/22/2010 FA FHLB 2.0% CALL 10/22/10
09/23/2010 FA FHLB 1.125% CALL 3/23/11
09/24/2010 FA FNMA 1.5% CALL 3/24/11 STEP
09/24/2010 FA FNMA 2.0% CALL 3/28/11
09/28/2010 FA FHLB 1.5% CALL 10/28/10 STEP
09/30/2010 FA FNMA 2.0% CALL 3/30/11
09/30/2010 FA FFCB 1.99% CALL 9/30/11
PAR
VALUE
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
2,000,000.00
2,000,000.00
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
4,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
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
2,000,000.00
2,000,000.00
INVESTED
AMOUNT
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
2,000,000.00
2,000,000.00
1,014,759.55
3,016,423.52
3,234,480.00
2,037,406.00
2,040,000.00
3,395,255.41
2,000,000.00
2,231,960.00
2,047,400.80
3,000,000.00
1,999,000.00
2,015,640.00
4,000,000.00
2,001,080.00
2,018,771.34
3,027,060.00
2,009,120.00
1,999,500.00
2,006,000.00
2,000,000.00
1,999,000.00
2,000,000.00
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
1,998,000.00
2,000,000.00
1 ,999,000.00
RETURN
RATE
1.930%
2.000%
2.000%
2.264%
4.361%
2.600%
2.250%
1 .300%
1.300%
3.167%
2.363%
2.595%
2.522%
2.488%
2.323%
1 .500%
2.490%
2.440%
3.163%
1.613%
2.950%
3.400%
2.108%
2.780%
2.801%
2.240%
2.375%
1.757%
2.000%
1.861%
1 .740%
1.875%
2.022%
2.000%
2.000%
1.125%
2.030%
2.000%
2.101%
2.000%
2.001%
INTEREST
211,826.25
75,181.11
140,000.00
193,522.08
440,000.00
258,135.31
91,463.51
90,061.11
91,000.00
121,601.56
300,034.82
381,665.83
211,594.00
208,333.33
328,452.92
120,000.00
237,040.00
222,265.87
479,833.33
161,000.00
270,026.67
680,000.00
200,202.22
277,339.77
414,190.00
217,263.33
240,500.00
175,898.89
200,000.00
185,897.22
174,000.00
187,500.00
203,750.00
200,000.00
200,000.00
67,500.00
205,000.00
200,444.44
212,000.00
200,000.00
200,000.00
INVESTMENT
RETURN
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
2,090,061.11
2,091,000.00
1,136,361.11
3,316,458.34
3,616,145.83
2,249,000.00
2,248,333.33
3,723,708.33
2,120,000.00
2,469,000.00
2,269,666.67
3,479,833.33
2,160,000.00
2,285,666.67
4,680,000.00
2,201,282.22
2,296,111.11
3,441,250.00
2,226,383.33
2,240,000.00
2,181,898.89
2,200,000.00
2,184,897.22
2,174,000.00
2,187,500.00
2,201,250.00
2,200,000.00
2,200,000.00
2,067,500.00
2,205,000.00
2,200,444.44
2,210,000.00
2,200,000.00
2,199,000.00
TERM
(Days)
1,283
1,322
1,279
1,463
1,826
1,788
1,461
1,264
1,277
1,536
1,542
1,714
1,515
1,511
1,603
1,461
1,633
1,643
1,825
1,461
1,650
1,837
1,734
1,790
1,790
1,758
1,826
1,825
1,826
1,825
1,826
1,826
1,826
1,826
1,826
1,096
1,826
1,830
1,826
1,826
1,826
SUB-TOTAL 269,385,000.00 275,449,544.63 2.328% 25,083,777.45 300,533,322.08 1,294
03/12/2009 FN FICO STRIP 0.00% NON-CALL 1,000,000.00 956,370.00 2.200%43,630.00 1,000,000.00 744
INVESTMENT REPORT
AS OF SEPTEMBER 30,2010
INVESTMENT
DATE
02/11/2009
02/18/2009
02/25/2009
03/02/2009
03/02/2009
03/09/2010
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
TYPE
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
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
SECURITY
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
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
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 FUNDING 5.125% NON-CAL
GENERAL ELECTRIC 5.50% CALL 11/15/08
SUNTRUST BANK 3.0% NON-CALL
CITIGROUP 2.875% NON-CALL
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
12,000,000.00
181, 385,000.00
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
67,000,000.00
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
INVESTED
AMOUNT
1,889,240.00
916,713.56
1,826,280.00
1,818,680.00
1,793,820.00
1,882,080.00
11,083,183.56
286,532,728.19
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
67,438,529.05
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
RETURN
RATE
2.300%
2.710%
2.850%
3.000%
3.050%
1.850%
2.576%
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%
0.628%
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%
INTEREST
110,760.00
83,286.44
173,720.00
181,320.00
206,180.00
117,920.00
916,816.44
26,000,593.89
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
788,059.50
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
INVESTMENT
RETURN
2,000,000.00
1 ,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
12,000,000.00
312,533,322.08
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
68,226,588.55
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
TERM
(Days)
908
1,178
1,171
1,166
1,314
1,206
1,098
2,392
424
341
302
454
371
322
487
469
497
456
580
644
610
583
557
645
584
586
1,755
1,783
623
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
INVESTMENT REPORT
AS OF SEPTEMBER 30, 2010
INVESTMENT
DATE
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
05/29/2009
05/20/2010
09/30/2010
TYPE
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
O
O
O
O
0
O
O
O
SECURITY
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
BERKSHIRHATWY4.00% 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
ROYAL BANK OF CANADA 1.75% CALL STEP
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
-CALL
;ALL
;ALL
LL
LL
kLL
:ALL
:ALL
:ALL
ML
I-CALL
-CALL
-CALL
% NON-CAL
% NON-CAL
1
LL
:ALL STEP
SUB-TOTAL
r ACCOUNT
RPORATION
iRATION
SUB-TOTAL
PAR
VALUE
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
1,000,000.00
2,000,000.00
2,000,000.00
84,631,000.00
341,726.00
1,796,716.94
333.63
194.44
28,363,000.00
26,769,997.07
32,421,215.94
30,159,000.00
119,852,184.02
INVESTED
AMOUNT
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
1,003,190.00
2,072,820.00
2,000,000.00
86,531,664.57
341,726.00
1,796,716.94
333.63
194.44
28,363,000.00
26;769,997.07
32,421,215.94
30,159,000.00
119,852,184.02
RETURN
RATE
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%
3.130%
2.005%
2.255%
4.157%
0.100%
0.100%
0.000%
0.050%
0.520%
0.520%
0.520%
0.520%
0.513%
INTEREST
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
155,565.56
164,982.78
227,000.00
15,251,073.19
0.94
4.92
-
0.00
409.69
386.68
468.31
435.63
1,706.16
INVESTMENT
RETURN
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
1,158,755.56
2,237,802.78
2,227,000.00
101,782,737.76
341,726.94
1,796,721.86
333.63
194.44
28,363,409.69
26,770,383.75
32,421,684.25
30,159,435.63
119,853,890.18
TERM
(Days)
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
1,812
1,473
1,826
1,457
1
1
1
1
1
1
1
1
GRAND TOTAL 552,868,184.02 560,355,105.83 2.023% 42,041,432.74 602,396,538.57
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF SEPTEMBER 30, 2010
Cash Balance by Fund:
General 58,001,566
Special Revenue 49,272,848
Debt Service 0
Capital Projects:
General Capital Construction 67,017,616
Traffic Impact Fees 16,859,285
Public Facilities Fees 44,180,632
Park Development 2,409,985
Transnet Taxes 3,375,253
Drainage Fees 6,326,997
Special Districts 72,725,715
Infrastructure Replacement 61,222,917
Redevelopment 4,631,773
Other Capital Construction 5,408,604
Total 284,158,777
Enterprise:
Carlsbad Municipal Water District 67,860,438
Sewer Fund 47,863,446
Solid Waste 7,031,702
Storm Water 1,831,119
Golf Course 216,987
Total 124,803,692
Internal Service 29,072,376
Agency Funds 12,101,347
Misc. Special Funds 0
Total General Ledger Balance ** 557,410,606
Reconciling Adjustments (1) (263,968)
Total Treasurer's Investment Portfolio at Amortized Cost 557,146,637
(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 10/08/10
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of September 30, 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
JOHNSON & 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
Moodv'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
2,012,366
11,024,622
2,004,735
2,997,824
1,000,000
3,000,000
Market
Value
2,210,220
11,202,990
2,073,060
3,056,310
1,019,630
3,135,480
WELLS FARGO A1 AA- 01/30/2008 2,027,830 2,125,550
* 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 SEPTEMBER 30, 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
JOHNSON & 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 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
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
3,066,260.00
2,066,260.00
2,121,417.76
8,559,850.00
2,051,019.91
2,075,734.20
ENCY ISSUER
Investment Cost
7,884,746.01
11,083,183.55
53,274,750.13
125,669,504.24
35,869,675.52
47,220,390.25
5,530,478.48
67,438,529.05
Percent of Portfolii
0.36%
0.28%
0.73%
0.55%
1.97%
4.93%
0.36%
0.53%
0.18%
0.72%
0.37%
0.18%
0.18%
0.54%
0.55%
0.37%
0.38%
1.53%
0.37%
0.37%
Percent of Portfolio**
1.41%
1.98%
9.51%
22.43%
6.40%
8.43%
0.99%
12.03%
$560,355,105.83
City of Carlsbad
Bond Proceeds Investment Report
September 30, 2010
Fund Type
Assessment District 03-01
Project Fund
Redemption Fund
Investments
(College/Cannon)
LAIF
LAIF
Re-Assessment District 97-01 (Alga Road & College Blvd)
Imprvmnt Fund - Alga AIM STIT Treasury
Assessment District 95-01
Reserve Fund
Assessment District 96-01
Reserve Fund
Assessment District 02-01
Improvement Fund
Redemption Fund
EFJPA
Reserve Fund
(Carlsbad Ranch)
Repub Natl Bank Repo Agreement (HSBC)
(Rancho Carrillo)
Repub Natl Bank Repo Agreement (HSBC)
(Poinsettia Lane)
AIM
LAIF
AIG Investment Agreement
Communities Facilities District #3 Improvement Area 1
Project Fund AIM STIT Treasury
Reserve Fund BNY Hamilton Money Market
Other BNY Hamilton Money Market
Communities Facilities District #3 Improvement Area 2
Project Fund LAIF
Reserve Fund BNY Hamilton Money Market
Other LAIF/BNY
CPFA Golf Course Bonds
Reserve Fund
Other
BNY Hamilton Money Market
BNY Hamilton Money Market
Stated Int.
Rate
0.52%
0.52%
N/A
5.83%
6.03%
N/A
0.52%
5.36%
N/A
various
various
0.52%
various
various
various
various
Maturity
Date
N/A
N/A
N/A
N/A
09/02/28
N/A
N/A
08/01/14
N/A
09/01/36
N/A
N/A
09/01/38
N/A
N/A
N/A
Par Value
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
920,440
1,192,295
277,857
948,208
1 ,292,770
4,443,926
2,481,480
953,706
1,926,928
771,252
24,493
12,847
1,068,213
86,556
1,238,325
17,639,296
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Cost
Fiscal Agent:
920,440
1,192,295
Fiscal Agent:
277,857
Fiscal Agent:
948,208
Fiscal Agent:
1,292,770
Fiscal Agent:
4,443,926
2,481,480
Fiscal Agent:
953,706
Fiscal Agent:
1,926,928
771,252
24,493
Fiscal Agent:
12,847
1,068,213
86,556
Fiscal Agent:
1,238,325
17,639,296
Source
BNY Western Trust
LAIF
LAIF
US Bank
AIM Instit. Fund Services
BNY Western Trust
HSBC Bank of New York
BNY Western Trust
HSBC Bank of New York
BNY Western Trust
AIM Instit. Fund Services
LAIF
BNY Western Trust
GIG
BNY Western Trust
AIM Instit. Fund Services
BNY Western Trust
BNY Western Trust
BNY Western Trust
LAIF
BNY Western Trust
LAIF/BNY
BNY Western Trust
BNY Western Trust
BNY Western Trust
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H:\Long Term Debt\Quarterly Investment Reports\Qtr Inv Rpt.xlsx
City of Carlsbad
Summary of Outstanding Housing Loans
As of September 30, 2010
Loans issued by
# of City to Loans issued by
First date loans developers/ Developer to # of loans
Loan amount Developer loan
City loan Developer due to City amount due to
repaid to loan repaid (recorded as City (not on
Borrower Development
Individual homebuye City-wide (CHAP)
Individual homebuye Calavera Hills
Individual homebuve Cherry Tree Walk
Individual homebuye Serrano
Individual homebuye Rancho Carlsbad
Individual homebuye Solamar
Catholic Charities Homeless shelter
CB Laurel Tree Apai Laurel Tree
CB Housing Partner Rancho Carrillo
Pacific Vista Las Flo Vista Las Flores
Poinsettia Housing / Poinsettia Station
Bridge Housing Con Villa Loma
Dove Family Housin La Costa Paloma
CIC Calavera LP Mariposa Apts
Mulberry at
Individual homebuye Bressi Ranch
Individual homebuye Village by the Sea
El Camino Family HI Cassia Heights
Individual homebuye Laguna Point
Individual homebuye The Bluffs
Roosevelt St.
Habitat for Humanitv Condos
CIC La Costa Hunter's Point
Closing Cost
Assistance Various
CIC Gien Ridge, LP Glen Ridge
Purpose
Sale
Sale
Sale
Sale
Sale
Sale
Shelter
Rentals
Rentals
Rentals
Rentals
Rentals
Rentals
Rentals
Sale
Sale
Rentals
Sale
Sale
Sale
Rentals
Assistance
Rentals
issued
06/28/99
10/15/99
06/28/99
05/25/01
05/20/99
09/26/88
09/19/97
12/24/98
03/05/01
02/27/01
10/21/99
11/04/94
07/15/03
09/15/04
04/29/05
10/28/05
03/07/06
07/06/06
06/14/07
08/30/07
08/19/08
06/25/09
10/05/09
issued
133
5
42
90
22
9
1
2
1
1
1
2
1
1
100
11
1
3
8
1
1
4
1
441
homeowners
$1,680,000 $
75,000
453,600
1,350,000
752,533
147,726
200,000
1,134,000
1,157,584
363,948
920,000
2,212,000
2,070,000
1 ,060,000
1 ,840,000
220,000
1,454,276
210,000
200,000
797,539
1,932,000
47,500
1,014,000
$ 21,291,706 $
homeowners outstanding
38
150,000 1
452,600 14
4,050,000 34
15
1
1
2
1
1
1
2
1
1
19,660,200 100
4,087,200 7
1
3
8
1
1
1
1
28,400,000 236
City to City AR) City's books)
($1,339,377) $ - $340,623.09 $
(60,000) (120,000) 15,000 30,000
(302,400) (283,250) 151,200 169,350
(840,133) (2,520,000) 509,867 1,530,000
(256,410) - 496,123
(135,065) - 12,661
200,000
(408,778) - 725,222
1,157,584
363,948
920,000
(1,725,986) - 486,014
(1,022,966) - 1,047,034
1,060,000
1,840,000 19,660,200
220,000 4,087,200
1,454,276
210,000
200,000
797,539
1,932,000
47,500
1,014,000
$(6,091,115) $(2,923,250) $ 15,200,591 $ 25,476,750 $
340,623
45,000
320,550
2,039,867
496,123
12,661
200,000
725,222
1,157,584
363,948
920,000
486,014
1,047,034
1,060,000
21,500,200
4,307,200
1 ,454,276
210,000
200,000
797,539
1 ,932,000
47,500
1,014,000
40,677,341
Type of Loan
Payment deferred 1 5 years. No interest is
due unless home is sold before 16th year
Payment deferred 30 years. No interest is
due unless home is sold before 31th year
Payment deferred 30 years. No interest is
due unless home is sold before 31th year
Payment deferred 30 years. No interest is
due unless home is sold before 31th year
Principal is due when home is sold
Principal is due when home is sold
Principal is due when property is sold
Principal and 3% interest each year for 30
years when surplus cash is available
Principal and 3% interest each year for 55
years when surplus cash is available
Principal and 3% interest each year for 55
years when surplus cash is available
Principal and 3% interest each year for 55
years when surplus cash is available
Principal and 3% interest each year for 1 5
years when surplus cash is available
Principal and 3% interest each year for 55
years when surplus cash is available
Principal and 3% interest each year for 55
years when surplus cash is available
Payment deferred 30 years. No interest is
due unless home is sold before 31th year
Payment deferred 30 years. No interest is
due unless home is sold before 31th year
Principal and 3% interest each year for 55
years when surplus cash is available
Payment deferred 45 years. No interest is
due unless home is sold before 46th year
Payment deferred 30 years. No interest is
due unless home is sold before 31th year
Refer to Agenda Bill 18,569 / Resolution 2006-
131 & AB 19.183/R2007-255
Refer to AB18.251 / Resolution 2005-264
Refer to Agenda Bill 19,415 / Resolution 2008-
121
Refer to Agenda Bill 397 / Resolution 435
During the IstQtrof FY2010-11, approximatley $23,112 in CHAP loan payments was received.
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