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HomeMy WebLinkAbout2011-01-11; City Council; 20429; REPORT CITY INVESTMENTS AS OF NOV 30 2010CITY OF CARLSBAD - AGENDA BILL AB# 20,429 MTG. 1/11/11 DEPT. TRS REPORT ON CITY INVESTMENTS AS OF NOVEMBER 30, 2010 DEPT. HEACK/S/^/ CITY ATTY. ^~2^> CITYMGR. lu RECOMMENDED ACTION: Accept and file report. ITEM EXPLANATION: The City's Investment Policy requires the City Treasurer to report to the City Council on a monthly basis the status of the City's pooled investment portfolio. A quarterly report is also required for the investments of bond proceeds held separately. The City's pooled investment portfolio as of the month ended November 30, 2010 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1) Market Value (2) Current Month 550,325,704 557,466,879 554,159,622 562,348,394 Prior Month 550,890,468 558,306,763 555,030,435 564,672,030 (1) The cost of investments adjusted for amortized premiums and discounts. (2) The amount at which the investments could be sold. Source of market values is Union Bank of California's custodial report as of 11/30/10. 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 $53 $48 Internal Service Agency Enterprise $29 $128 Capital Projects $285 Total Treasurer's Investment Portfolio at Amortized Cost November 30, 2010 $554 million FOR CITY CLERKS USEDNLXT COUNCIL ACTION: APPROVED >0C CONTINUED TO DATE SPECIFIC D DENIED D CONTINUED TO DATE UNKNOWN D CONTINUED D RETURNED TO STAFF D WITHDRAWN D OTHER - SEE MINUTES D AMENDED D DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan@carlsbadca.qov PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF NOVEMBER 30. 2010 Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 6,539,953 Prior Month FYTD 5,539,409 Current Month Income 1,000,544 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement September 2010 October 2010 November 2010 Average Life (Years) 1.50 1.59 1.56 Average Yield To Maturity 2.02% 2.03% 2.02% Modified Duration 1.444 1.519 1.484 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. Second Quarter Transactions 7. Detailed Investment Report 8. Fund Equity in Pooled Investments 9. Corporate Note and Commercial Paper Ratings 10. Percentage Weightings By Corporate Note Issuer CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF NOVEMBER 30, 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 TOTALS Current Month 0 13,489,900 0 48,112,213 281,635,156 85,432,649 120,606,006 2,000,389 2,236,322 646,987 $554,159,622 Prior Month 0 11,543,344 0 67,130,280 279,557,606 85,481,579 106,277,006 20,698 4,213,335 806,588 $555,030,435 CD - Certificate of Deposit FN - Federal Discount Notes Current Month 0 13,732,710 0 48,325,920 286,669,352 88,130,708 120,606,006 2,000,389 2,236,322 646,987 $562,348,394 TR - US Treasury FA - Federal Agency Prior Month 0 11,855,110 0 67,385,330 285,563,207 88,550,757 106,277,006 20,698 4,213,335 806,588 $564,672,030 Cash Income Year to Date 0 0 0 387,500 3,878,926 2,060,595 211,551 200 1,182 0 $6,539,953 LAIF - Local Agency Custody - Investment t~< Tl 7TTT* /~^ 1 T~" Current Month 0.00 2.58 0.00 0.74 2.26 4.16 0.47 0.04 0.10 0.10 2.02% Investment Fund Cash account Prior Month 0.00 2.58 0.00 0.63 2.30 4.16 0.49 0.05 0.10 0.10 2.03% m Xn: H- 1 COCP - Corporate Paper CN - Corporate Notes SWEEP - General Fund Overnight Cash acccount Bank Account - General Fund Cash account CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF NOVEMBER 30, 2010 BREAKDOWN OF MA TURITIES B Y CLASSIFICA TIONAND 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 18,067,952 7,114,609 24,122,901 120,606,006 2,000,389 • 2,236,322 646,987 $175,751,536 (1) 31.5% Year 7 MONTHS TO 1 YEAR 0 1,889,240 0 28,152,889 52,724,797 9,052,549 0 0 0 0 $91,819,474 (1) 16.5% $267,571,009 (1) 1 TO 5 YEARS 0 8,237,574 0 2,062,109 226,239,972 53,356,215 0 0 0 0 $289,895,870 52.0% TOTAL 0 11,083,184 0 48,282,950 286,079,378 86,531,665 120,606,006 2,000,389 2,236,322 646,987 $557,466,879 100.0% % TOTAL 0.0% 2.0% 0.0% 8.7% 51.3% 15.5% (2) 21.6% 0.4% 0.4% 0.1% 100.0% POLICY: 48.0% (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 CD YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1998 -NOVEMBER 2010 00 °\ MARKET YIELD CURVE 6/30/09,6/30/10, 11/30/10 Market Rates 3Mth 2Yr 5Yr 3Mth 2Yr 5Yr 10 Yr —-06/30/2009 -*- 06/30/2010 -^-11/30/2010 .18 .17 .16 1.11 .60 .45 2.55 1.77 1.47 3.53 2.93 2.80 10 Yr mx DO Cumulative Millions $ Cumulative Cash Income FY10-11 (November 2010) 16 14 12 10 8 6 4 2 1.73 1.34 Monthly Interest Income Millions $ 1.35 1.12 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 8 3 2 1 Income —*—Budget Actual City of Carlsbad TRANSACTIONS FOR PERIOD: 10/01/10 TO 10/31/10 2nd QUARTER 2010-2011 Trans Date BUYS OCTOBER 09/29/2010 09/29/2010 10/06/2010 10/06/2010 10/01/2010 09/29/2010 10/14/2010 09/29/2010 10/06/2010 10/18/2010 10/19/2010 10/19/2010 10/06/2010 10/21/2010 10/26/2010 NOVEMBER 11/16/2010 11/23/2010 11/23/2010 10/15/2010 10/26/2010 10/26/2010 11/18/2010 11/19/2010 11/16/2010 Investment Date 10/04/2010 10/06/2010 10/07/2010 10/07/2010 10/15/2010 10/15/2010 10/15/2010 10/19/2010 10/21/2010 10/25/2010 10/27/2010 10/28/2010 10/29/2010 10/29/2010 10/28/2010 11/17/2010 11/24/2010 11/24/2010 11/05/2010 11/10/2010 11/16/2010 11/19/2010 11/22/2010 11/23/2010 Maturity Date 10/04/2012 10/06/2014 03/24/2014 02/07/2013 10/15/2015 10/15/2015 07/29/2014 04/19/2013 10/21/2014 10/25/2013 10/27/2015 10/28/2015 10/29/2014 10/29/2015 10/28/2013 08/19/2013 04/25/2014 07/05/2014 11/05/2015 11/10/2015 11/16/2015 10/07/2015 04/04/2014 11/23/2015 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 Security FFCB FHLB FHLMC FFCB FNMA FNMA FHLB FHLMC FHLB FFCB FNMA FNMA FHLMC FNMA FFCB FNMA FNMA FNMA FNMA FNMA FNMA FHLB FHLB FFCB Call Date 01/04/2011 01/06/2011 03/24/2011 N/A 04/15/2011 04/15/2011 07/29/201 1 04/19/2011 01/21/2011 1 0/25/201 1 10/27/2011 04/28/201 1 04/29/201 1 04/29/201 1 01/28/2011 08/19/2011 10/25/2011 N/A 05/05/201 1 05/10/2011 05/16/2011 01/07/2011 01/04/2011 05/23/2012 TOTAL SECOND QUARTER 2010-2011 MATURITIES OCTOBER 06/01/2009 05/05/2008 04/22/2009 06/03/2009 09/02/2009 11/24/2009 10/14/2010 10/22/2010 10/22/2010 10/22/2010 10/31/2010 10/31/2010 FA FA FA FA TR TR FHLB FHLB FHLB FHLB US TREASURY US TREASURY N/A N/A N/A N/A N/A N/A Par Value 1,000,000.00 2,000,000.00 2,000,000.00 1,065,000.00 2,000,000.00 2,600,000.00 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 2,155,000.00 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 44,820,000.00 2,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 5,000,000.00 2,000,000.00 Coupon 0.600% 1 .400% 0.75% STEP 3.400% 1 .5% STEP 1.5% STEP 1 .450% 0.5% STEP 1.350% 0.840% 1.550% 1 .500% 1.1 25% STEP 1 .25% STEP 0.875% 1 .250% 1 .000% 0.000% 1.25% STEP 1.375% STEP 1 .700% 2.050% 1.375% 2.000% 1 .250% 4.375% 1.125% 4.375% 1.50.0% 1.500% Amount (Cost) 1,000,000.00 2,000,000.00 2,000,000.00 1,133,986.44 2,000,000.00 2,600,000.00 2,009,400.00 1,000,000.00 2,000,000.00 2,000,000.00 1,998,000.00 1,999,000.00 1,000,000.00 2,155,000.00 2,000,000.00 2,006,760.00 1,998,000.00 1,922,260.00 2,000,000.00 1,998,740.00 1,997,000.00 1,999,600.00 1,998,500.00 2,000,000.00 44,816,246.44 2,014,960.00 1,032,893.26 3,000,000.00 2,101,180.00 5,062,500.00 2,023,125.00 Return Rate 0.600% 1.400% 1.536% 0.600% 2.034% 2.034% 1.322% 1.021% 1.350% 0.840% 1.579% 1.510% 1.553% 1 .932% 0.875% 1.125% 1 .030% 1.100% 1 .789% 1.728% 1.731% 2.054% 1.398% 2.000% 1 .473% 0.700% 2.980% 1.125% 0.701% 0.41 9% 0.259% Interest 12,000.00 112,000.00 106,958.33 15,503.56 205,000.00 266,500.00 100,477.78 25,625.00 108,000.00 50,400.00 157,000.00 151,000.00 62,500.00 210,112.50 52,500.00 62,128.89 70,388.89 155,480.00 180,000.00 173,760.00 173,000.00 200,616.67 94,083.33 200,000.00 2,945,034.95 19,276.11 74,901.88 50,625.00 20,104.72 24,524.46 4,886.05 Investment Return 1,012,000.00 2,112,000.00 2,106,958.33 1,149,490.00 2,205,000.00 2,866,500.00 2,109,877.78 1,025,625.00 2,108,000.00 2,050,400.00 2,155,000.00 2,150,000.00 1,062,500.00 2,365,112.50 2,052,500.00 2,068,888.89 2,068,388.89 2,077,740.00 2,180,000.00 2,172,500.00 2,170,000.00 2,200,216.67 2,092,583.33 2,200,000.00 47,761,281.39 2,034,236.11 1,107,795.14 ™ 3,050,625.00 S 2,121,284.72 S 5,087,024.46 "" 2,028,011.05 w City of Carlsbad TRANSACTIONS FOR PERIOD: 10/01/10 TO 10/31/10 2nd QUARTER 2010-2011 Trans Date NOVEMBER Investment Date 06/01/2009 06/03/2009 01/20/2010 09/02/2009 11/24/2009 Maturity Date 11/15/2010 11/15/2010 11/18/2010 11/30/2010 11/30/2010 Type FA FA TR TR TR Security FHLB FHLB US TREASURY US TREASURY US TREASURY Call Date N/A N/A N/A N/A N/A TOTAL SECOND QUARTER 2010-2011 CALLS and / or SALES OCTOBER 09/24/2010 10/16/2009 08/26/2010 10/19/2009 07/28/2010 12/04/2009 09/02/2010 NOVEMBER 08/16/2010 08/17/2010 09/24/2010 11/07/2008 06/30/2010 09/27/2010 10/19/2009 09/22/2010 10/27/2009 07/29/2010 12/07/2009 09/28/2010 09/01/2010 09/15/2010 09/27/2010 11/26/2008 07/01/2010 03/14/2014 07/19/2012 09/22/2015 07/27/2012 04/28/2015 10/29/2012 09/28/2015 09/01/2015 09/15/2015 03/14/2014 11/26/2013 05/26/2015 FA FA FA FA FA FA FA FA FA FA FA FA FHLB FFCB FHLB FNMA FFCB FNMA FHLB FHLB FHLB FHLB FHLB FHLMC 10/14/2010 10/19/2010 10/22/2010 10/27/2010 10/28/2010 10/29/2010 10/28/2010 11/01/2010 11/15/2010 11/16/2010 11/26/2010 11/26/2010 Par Value 2,000,000.00 2,000,000.00 4,000,000.00 5,000,000.00 3,000,000.00 31,000,000.00 1,263,157.89 3,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 736,842.11 2,000,000.00 3,000,000.00 Coupon 1.050% 1.050% 0.000% 1 .250% 1 .250% 1.300% 1.550% 2.000% 1 .700% 2.120% 1.875% 1.500% 2.000% 1.500% 1.300% 3.5% STEP 3.000% Amount (Cost) 2,008,660.00 2,007,180.00 3,991,946.67 5,048,828.13 3,029,179.69 31,320,452.75 1,263,157.89 2,995,200.00 2,000,000.00 998,800.00 2,001,080.00 1,003,900.00 1,998,000.00 2,000,000.00 1,997,500.00 736,842.11 2,000,000.00 3,027,060.00 Return Rate 0.750% 0.800% 0.244% 0.461% 0.291% 0.615% 1.300% 1.610% 2.000% 1 .745% 2.108% 1 .736% 2.101% 2.000% 2.022% 1.300% 4.361% 2.801% Interest 21,906.67 23,270.00 8,053.33 28,869.96 8,935.06 285,353.24 57,473.68 132,675.00 200,000.00 47,950.00 200,202.22 50,370.83 212,000.00 200,000.00 203,750.00 1,649.71 440,000.00 414,190.00 Investment Return 2,030,566.67 2,030,450.00 4,000,000.00 5,077,698.09 3,038,114.75 31,605,805.99 1,320,631.57 3,127,875.00 2,200,000.00 1,046,750.00 2,201,282.22 1,054,270.83 2,210,000.00 2,200,000.00 2,201,250.00 738,491.82 2,440,000.00 3,441,250.00 TOTAL SECOND QUARTER 2010-2011 22,000,000.00 22,021,540.00 2.205% 2,160,261.44 24,181,801.44 INVESTMENT REPORT AS OF NOVEMBER 30, 2010 INVESTMENT DATE 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 10/20/2009 11/25/2009 01/20/2010 08/05/2008 03/24/2010 06/04/2010 12/24/2009 TYPE FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA SECURITY 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 FFCB 2.125% NON-CALL FFCB 5.45% NON-CALL FHLMC 5.125% NON-CALL FFCB 3.950% NON-CALL FHLB 1.25% NON-CALL FHLMC 1.125% NON-CALL FNMA 5.00% NON-CALL PAR VALUE 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 3,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 5,000,000.00 1,037,000.00 INVESTED AMOUNT 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 3,049,023.21 2,210,347.28 1,092,760.00 2,002,900.00 2,000,352.89 5,004,198.09 1,127,519.73 RETURN RATE 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% 5255% 5.250% 3.900% 1.015% 1.496% 1.280% 1 .320% 3.910% 1.243% 1.085% 1.567% INTEREST 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 68,400.00 524,632.22 128,989.85 256,692.64 256,478.21 460,552.31 104,515.20 120,622.62 70,024.94 34,653.19 310,466.67 58,188.78 116,583.16 44,578.33 INVESTMENT RETURN 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 3,169,645.83 2,280,372.22 1,127,413.19 2,313,366.67 2,058,541.67 5,120,781.25 1,172,098.06 TERM (Days) 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 1,424 750 972 939 907 1,448 856 784 952 x IEi—iDO INVESTMENT REPORT AS OF NOVEMBER 30, 2010 INVESTMENT DATE TYPE SECURITY 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 10/04/2010 FA FFCB .60% CALL 1/4/11 CONTINOUS 12/10/2007 FA FFCB 4.5% NON-CALL 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 10/07/2010 FA FFCB 3.4% NON-CALL 03/10/2008 FA FHLB 3.50% NON-CALL 08/26/2009 FA FHLMC 2.5% CALL 4/8/11 ' 10/19/2010 FA FHLMC .50% CALL 4/19/11 STEP 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 11/17/2010 FA FNMA 1.25% CALL 8/19/11 ONETIME 11/12/2008 FA FHLB 4.0% NON-CALL 12/17/2008 FA FHLB 4.375% NON-CALL 09/23/2010 FA FHLB 1.125% CALL 3/23/11 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 10/25/2010 FA FFCB .84% CALL 10/25/11 CONT 10/28/2010 FA FFCB .875% CALL 01/28/11 CONT PAR VALUE 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 1,000,000.00 2,000,000.00 3,000,000.00 1,807,000.00 1,000,000.00 3,000,000.00 3,000,000.00 1,000,000.00 1 ,065,000.00 3,000,000.00 2,000,000.00 1,000,000.00 500,000.00 500,000.00 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 2,000,000.00 1,000,000.00 2,000,000.00 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 INVESTED AMOUNT 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 1,000,000.00 2,034,780.00 3,012,394.24 1,990,388.82 999,500.00 3,233,040.00 3,000,000.00 1,102,490.00 1,133,986.44 2,963,940.00 2,008,000.00 1,000,000.00 536,967.86 532,794.50 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 2,006,760.00 1,007,890.00 2,154,940.00 2,000,000.00 3,222,330.00 1,065,180.00 . 2,000,000.00 2,235,072.36 2,000,000.00 2,000,000.00 RETURN RATE 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% 0.600% 4.100% 1 .200% 3.890% 1.673% 0.939% 4.250% 1 .926% 0.600% 3.765% 2.384% 1.021% 2.100% 2.120% 3.800% 2.450% 2.125% 1 .479% 2.040% 3.970% 2.125% 2.054% 2.550% 1.125% 3.818% 2.625% 1.125% 1 .930% 2.000% 2.000% 2.264% 0.840% 0.875% INTEREST 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 12,000.00 401,970.00 86,720.34 331,405.40 50,500.00 72,897.50 637,500.00 67,316.94 15,503.56 560,476.67 172,833.33 25,625.00 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 62,128.89 184,776.67 259,712.78 67,500.00 211,826.25 75,181.11 . 140,000.00 193,522.08 50,400.00 52,500.00 INVESTMENT RETURN 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 1,012,000.00 2,436,750.00 3,099,114.58 2,321,794.22 1,050,000.00 3,305,937.50 3,637,500.00 1,169,806.94 1,149,490.00 3,524,416.67 2,180,833.33 1,025,625.00 576,263.89 572,888.89 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 2,068,888.89 1,192,666.67 2,414,652.78 2,067,500.00 3,434,156.25 1,140,361.11 2,140,000.00 2,428,594.44 2,050,400.00 2,052,500.00 TERM (Days) 928 933 878 1,294 965 803 816 1,593 1,484 833 928 1,089 1,034 1,238 731 1,773 878 1,624 1,096 904 1,827 1,206 854 1,824 1,321 913 1,310 1,331 1,677 1,401 1,278 1,127 1,278 1,785 1,277 1,273 1,461 1,006 1,759 1,731 1,096 1,283 1,322 1,279 1,463 1,096 1,096 INVESTMENT REPORT AS OF NOVEMBER 30, 2010 INVESTMENT DATE TYPE SECURITY 01/20/2009 FA FHLB 3.125% NON-CALL 02/12/2010 FA FFCB 3.00% NON-CALL 09/17/2010 FA FNMA 1.3% CALL 3/17/11 10/07/2010 FA FHLMC .75% CALL 3/24/11 STEP 11/22/2010 FA FHLB 1.375% CALL 1/4/11 CONT 11/24/2010 FA FNMA 1.0% CALL 10/25/11 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 11/24/2010 FA FNMA 0% NON-CALL 06/04/2010 FA FNMA 3.00% CALL 7/28/11 06/08/2010 FA FNMA 3.00% CALL 7/28/11 10/15/2010 FA FHLB 1.45% CALL 7/29/11 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 10/06/2010 FA FHLB 1.4% CALL 10/06/11 CONT 10/21/2010 FA FHLB 1.35% CALL 1/21/11 QRTLY 04/22/2010 FA FHLB 2.0% CALL 10/28/11 STEP 10/29/2010 FA FHLMC 1.125% CALL 4/29/11 QRTLY STEP 03/12/2010 FA FHLMC 1.0% STEP CALL 3/23/11 06/04/2010 FA FNMA 2.00% CALL 10/29/12 STEP 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 09/10/2010 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 09/21/2010 FA FNMA 2.0% CALL 3/21/11 09/24/2010 FA FNMA 1.5% CALL 3/24/11 STEP 09/24/2010 FA FNMA 2.0% CALL 3/28/11 09/30/2010 FA FNMA 2.0% CALL 3/30/11 09/30/2010 FA FFCB 1.99% CALL 9/30/11 11/19/2010 FA FHLB 2.05% CALL 1/7/11 CONT 10/15/2010 FA FNMA 1.50% CALL 4/15/11 QRTLY STEP 10/15/2010 FA FNMA 1.50% CALL 4/15/11 QRTLY STEP 10/27/2010 FA FNMA 1.55% CALL 10/27/11 10/28/2010 FA FNMA 1.50% CALL 4/28/11 10/29/2010 FA FNMA 1.25% CALL 4/29/11 QRTLY STEP 11/05/2010 FA FNMA 1.25% CALL 5/5/11 QRTLY STEP 11/10/2010 FA FNMA 1.375% CALL 5/10/11 QRTLY 11/16/2010 FA FNMA 1.7% CALL 5/16/11 QRTLY 11/23/2010 FA FFCB 2.0% CALL 5/23/12 CONT 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 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 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 2,000,000.00 2,000,000.00 1,000,000.00 4,000,000.00 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 2,600,000.00 2,000,000.00 2,000,000.00 2,155,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 INVESTED AMOUNT 2,047,941.08 1,028,536.49 2,000,000.00 2,000,00000 1,998,500.00 1,998,000.00 1,014,759.55 3,016,423.52 3,234,480.00 1,922,260.00 2,037,406.00 2,040,000.00 2,009,400.00 3,395,25541 2,000,000.00 2,231,960.00 2,047,400.80 3,000,000.00 1,999,000.00 2,000,000.00 2,000,000.00 2,015,640.00 1,000,000.00 4,000,000.00 2,018,771.34 2,009,120.00 1,999,500.00 2,006,000.00 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 1,999,000.00 1,999,600.00 2,000,000.00 2,600,000.00 1,998,000.00 1,999,000.00 2,155,000.00 2,000,000.00 1,998,740.00 1,997,000.00 2,000,000.00 RETURN RATE 2.600% 2.250% 1.300% 1 .536% 1.398% 1 .030% 3.167% 2.363% 2.595% 1.100% 2.522% 2.488% 1 .322% 2.323% 1 .500% 2.490% 2.440% 3.163% 1.613% 1 .400% 1 .350% 2.950% 1 .553% 3.400% 2.780% 2.240% 2.375% 1 .757% 1.861% 1.740% 1 .875% 2.000% 2.030% 2.000% 2.000% 2.001% 2.054% 2.034% 2.034% 1 .579% 1.510% 1.932% 1 .789% 1 .728% 1.731% 2.000% INTEREST 258,135.31 91,463.51 91,000.00 106,958.33 94,083.33 70,388.89 121,601.56 300,034.82 381,665.83 155,480.00 211,594.00 208,333.33 100,477.78 328,452.92 120,000.00 237,040.00 222,265.87 479,833.33 161,000.00 112,000.00 108,000.00 270,026.67 62,500.00 680,000.00 277,339.77 217,263.33 240,500.00 175,898.89 185,897.22 174,000.00 187,500.00 200,000.00 205,000.00 200,444.44 200,000.00 200,000.00 200,616.67 205,000.00 266,500.00 157,000.00 151,000.00 210,112.50 180,000.00 173,760.00 173,000.00 200,000.00 INVESTMENT RETURN 2,306,076.39 1,120,000.00 2,091,000.00 2,106,958.33 2,092,583.33 2,068,388.89 1,136,361.11 3,316,458.34 3,616,145.83 2,077,740.00 2,249,000.00 2,248,333.33 2,109,877.78 3,723,708.33 2,120,000.00 2,469,000.00 2,269,666.67 3,479,833.33 2,160,000.00 2,112,000.00 2,108,000.00 2,285,666.67 1,062,500.00 4,680,000.00 2,296,111.11 2,226,383.33 2,240,000.00 2,181,898.89 2,184,897.22 2,174,000.00 2,187,500.00 2,200,000.00 2,205,000.00 2,200,444.44 2,200,000.00 2,199,000.00 2,200,216.67 2,205,000.00 2,866,500.00 2,155,000.00 2,150,000.00 2,365,112.50 2,180,000.00 2,172,500.00 2,170,000.00 2,200,000.00 TERM (Days) 1,788 1,461 1,277 1,264 1,229 1,248 1,536 1,542 1,714 1,319 1,515 1,511 1,383 1,603 1,461 1,633 1,643 1,825 1,461 1,461 1,461 1,650 1,461 1,837 1,790 1,758 1,826 1,825 1,825 1,826 1,826 1,826 1,826 1,830 1,826 1,826 1,783 1,826 1,826 1,826 1,826 1,826 1,826 1,826 1,826 1,826 INVESTMENT REPORT AS OF NOVEMBER 30, 2010 INVESTMENT DATE 03/12/2009 02/11/2009 02/18/2009 02/25/2009 03/02/2009 03/02/2009 03/09/2010 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 TYPE FN FN FN FN FN FN FN 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 SECURITY 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 SUB-TOTAL SUB-TOTAL Federal Investments Total 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 FUNDING 5.125% NON-CAL GENERAL ELECTRIC 5.50% CALL 11/15/08 SUNTRUST BANK 3.0% NON-CALL CITIGROUP 2.875% NON-CALL TOYOTA 5.25% NON-CALL GENERAL ELECTRIC 5.875% NON-CALL PAR VALUE 280,205,000.00 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 12,000,000.00 292,205,000.00 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 48,000,000.00 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 INVESTED AMOUNT 286,079,377.81 956,370.00 1,889,240.00 916,713.56 1,826,280.00 1,818,680.00 1,793,820.00 1,882,080.00 11,083,183.56 297,162,561.37 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 48,282,949.56 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 RETURN RATE 2.259% 2.200% 2.300% 2.710% 2.850% 3.000% 3.050% 1 .850% 2.576% 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% 0.736% 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% INTEREST 25,627,528.86 43,630.00 110,760.00 83,286.44 173,720.00 181,320.00 206,180.00 117,920.00 916,816.44 26,544,345.30 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 31,797.03 102,864.30 118,792.86 121,777.13 712,790.64 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 INVESTMENT RETURN 311,706,906.67 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 12,000,000.00 323,706,906.67 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 48,995,740.20 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 TERM (Days) 1,331 744 908 1,178 1,171 1,166 1,314 1,206 1,098 2,429 322 487 469 497 456 580 644 610 583 557 645 584 586 1,755 1,783 704 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 INVESTMENT REPORT AS OF NOVEMBER 30, 2010 INVESTMENT DATE 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 O O O O O O O O SECURITY GENERAL ELETRIC 5.875% NON-CALL GENERAL ELETRIC 5.875% NON-CALL CHEVRON 3.450% NON-CALL BARCLAYS BANK 2.7% NON-CALL BERKSHIRHATWY4.00% 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 3M 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 :ALL :ALL LL LL \LL CALL CALL CALL ALL J-CALL I-CALL I-CALL .% NON-CAL i% NON-CAL _L 1L CALL STEP SUB-TOTAL T ACCOUNT RPORATION )RATION SUB-TOTAL PAR VALUE 3,000,000.00 2,000,000.00 3,000,000.00 1,575,000.00 1,000,000.00 2,000,00000 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 84,631,000.00 646,806.00 2,236,321.61 181.42 2,000,389.20 26,415,000.00 29,618,489.92 25,800,000.00 38,772,515.65 125,489,703.80 INVESTED AMOUNT 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 ,664.57 646,806.00 2,236,321.61 181.42 2,000,389.20 26,415,000.00 29,618,489.92 25,800,000.00 38,772,515.65 125,489,703.80 RETURN RATE 5.100% 4.700% 2.180% 2.330% 3.200% 3.300% 4.500% 5200% 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% 0.040% 0.470% 0.470% 0.470% 0.470% 0.455% INTEREST 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 1.77 6.13 - 2.22 34486 386.69 336.83 506.20 1,584.70 INVESTMENT RETURN 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 2,227,000.00 101,782,737.76 646,807.77 2,236,327.74 181 42 2,000,391.42 26,415,344.86 29,618,876.61 25,800,336.83 38,773,021.85 125,491,288.50 TERM (Days) 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 550,325,703.80 557,466,879.30 2.022% 42,509,793.83 599,976,673.13 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF NOVEMBER 30, 2010 Cash Balance by Fund: General 53,005,992 Special Revenue 48,998,302 Debt Service 0 Capital Projects: General Capital Construction 66,023,688 Traffic Impact Fees 17,257,326 Public Facilities Fees 44,172,011 Park Development 2,448,393 Transnet Taxes 6,467,250 Drainage Fees 5,720,377 Special Districts 72,905,247 Infrastructure Replacement 61,161,841 Redevelopment 4,895,457 Other Capital Construction 4,702,579 Total 285,754,169 Enterprise: Carlsbad Municipal Water District 71,124,338 Sewer Fund 47,595,173 Solid Waste 7,088,272 Storm Water 2,067,178 Golf Course 218,146 Total 128,093,109 Internal Service 29,701,626 Agency Funds 11,751,379 Misc. Special Funds 0 Total General Ledger Balance ** 557,304,577 Reconciling Adjustments (1) (3,144,955) Total Treasurer's Investment Portfolio at Amortized Cost 554,159,622 (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 12/09/10 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of November 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 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 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 2,011,567 11,022,119 2,003,909 2,998,695 1,000,000 3,000,000 Market Value 2,191,460 11,127,860 2,060,160 3,034,740 1,016,450 3,121,470 A1 AA- 01/30/2008 2,024,628 2,109,820 * 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 NOVEMBER 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 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 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 56,412,456.57 111,516,630.98 36,842,615.52 67,892,450.25 5,530,478.48 48,282,949.56 Percent of Portfolio* 0.36% 0.29% 0.73% 0.56% 1.98% 4.96% 0.36% 0.53% 0.18% 0.73% 0.37% 0.18% 0.18% 0.54% 0.55% 0.37% 0.38% 1.54% 0.37% 0.37% Percent of Portfolio** 1.41% 1.99% 10.12% 20.00% 6.61% 12.18% 0.99% 8.66% $557,466,879.30