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HomeMy WebLinkAbout2011-08-23; City Council; 20660; REPORT CITY INVESTMENTS JULY 31 201112 CITY OF CARLSBAD - AGENDA BILL AB# 20,660 MTG. 8/23/11 DEPT. TRS REPORT ON CITY INVESTMENTS AS OF JULY 31, 2011 DEPT. HEAD Q^ CITY ATTY. c/g** CITY MGR. UA — ' 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 July 31, 2011 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1) Market Value (2) Current Month 577,067,127 583,295,147 579,410,585 586,018,423 Prior Month 594,701,344 601,442,882 597,318,684 603,351,426 (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 7/31/11. 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 $18 million decrease between the June and July 2011 reports is due mainly to the prepayment of CalPERS retirement for the fiscal year 2011-2012 totaling $14.4 million. FOR CITY CLERKS USE QNJ.Y. COUNCIL ACTION: APPROVED DENIED CONTINUED D WITHDRAWN D AMENDED HI CONTINUED TO DATE SPECIFIC D CONTINUED TO DATE UNKNOWN D RETURNED TO STAFF D OTHER-SEE MINUTES D DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancy.SuHivan@carlsbadca.gov PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF JULY 31, 2011 FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) General Special Revenue $65 $ 54Internal Service /^B^. .$31 £vHSk Capital Projects Agency $2 $294 Enterprise $133 Total Treasurer's Investment Portfolio at Amortized Cost July 31, 2011 $579 million Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 1,078,371 Prior Month FYTD 0 Current Month Income 1,078,371 The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement May 201 1 June 2011 July 2011 Average Life (Years) 1.85 1.88 1.95 Average Yield To Maturity 1.99% 1 .97% 1.92% Modified Duration 1.774 1.791 1.865 All pooled investments have been made in accordance with the City's Investment Policy adopted January 2, 1985 and last revised June 21, 2011. 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 JULY 31, 2011 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 TOTALS Current Month Prior Month 0 18,678,608 16 0 18,034,295 19 353,512,173 362 82,016,383 81 103,748,472 112 489 2,746,398 5 673,768 $579,410,585 $597 CD - Certificate of Deposit 0 ,228,258 0 ,039,395 ,072,931 ,040,756 ,820,528 40,000 ,534,834 541,982 ,318,684 MARKET VALUE Current Month 0 18,890,380 0 18,138,610 357,904,257 83,916,050 103,748,472 489 2,746,398 673,768 $586,018,423 TR - US Treasury Prior Month 0 16,426,908 0 19,154,140 365,949,720 82,883,314 112,820,528 40,000 5,534,834 541,982 $603,351,426 AVERAGE YIELD Cash Income Year to Date 0 0 0 5,000 817,686 \ 133,225 122,307 2 151 0 1,078,371 LAIF - Local Agency Current Month 0.00 1.49 0.00 0.92 2.12 3.36 0.38 0.01 0.05 0.05 1.92% Investment Fund Prior Month 0.00 1.72 0.00 0.90 2.20 3.40 0.48 0.01 0.05 0.05 1.97% W Xa CP - Corporate Paper CN - Corporate Notes SWEEP - General Fund Overnight Cash acccount Bank Account - General Fund Cash account W CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JULY 31, 2011 BREAKDOWN OF MA TURITIES BY CLASSIFICA TIONAND LENGTH OF TIME CLASS CD FN CP TR FA CN LAIF CUSTODY SWEEP BANK ACCT TOTALS % TOTALS Total within One POLICY: WITHIN 6 MONTHS 7 0 1,889,240 0 16,072,928 37,873,009 12,474,699 103,748,472 489 2,746,398 673,768 $175,479,002 (1) 30.1% Year (1) Not less than $125,500,000 (2) Policy states that not more MONTHS TO 1 YEAR 0 4,561,674 0 0 32,975,615 27,383,648 0 0 0 0 $64,920,937 (1) 11.1% $240,399,939 (1) 41.2% 1 TO 5 YEARS 0 11,557,329 0 2,062,109 285,743,751 43,532,019 0 0 0 0 $342,895,208 58.8% to mature within one year. (2/3rds of current year operating than 30% of portfolio is to be invested in corporate notes. TOTAL 0 18,008,243 0 18,135,037 356,592,375 83,390,366 103,748,472 489 2,746,398 673,768 $583,295,147 100.0% budget of $188,300,000.00) % TOTAL 0.0% 3.1% 0.0% 3.1% 61.1% 14.3% (2) 17.8% 0.0% 0.5% 0.1% 100.0% M Xa w NJ YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1998-JULY 2011 wxaHto H1-3 U) MARKET YIELD CURVE 6/30/10,6/30/11,7/31/11 Market Rates 3Mth 2Yr 5Yr 3Mth 2Yr 5Yr 10 Yr —06/30/2010 -*- 06/30/201 1 -^07/31/2011 .17 .01 .09 .60 .46 .36 1.77 1.76 1.36 2.93 3.16 2.80 10 Yr MXW H i-3 £> Cumulative Cash Income FY11-13 Cumulative /T , ~rn 1 x Monthly Interest Millions $ (July 2011) Millions 14 12 10 8 6 4 2 i n [ncome $ 0 jj. ^^-^>*^ ^^ *^ ^*^ >r^^ ^^<*^^ ^ ^1.078 ^^ ^^r f u - 7 6 5 4 3 2 1 n Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun i=iInterest Income --*--Budget Actual M X ffiHw City of Carlsbad TRANSACTIONS FOR PERIOD: 07/01/11 TO 07/31/11 1ST QUARTER 2011-2012 Trans Date BUYS JULY 06/22/201 1 07/11/2011 06/30/201 1 07/13/2011 07/19/2011 07/22/2011 06/29/2011 06/29/201 1 07/12/2011 07/11/2011 07/19/2011 07/26/2011 07/22/201 1 07/19/2011 07/29/201 1 Investment Date 07/11/2011 07/12/2011 07/18/2011 07/1 8/201 1 07/20/201 1 07/25/201 1 07/26/201 1 07/26/2011 07/26/201 1 07/27/201 1 07/27/201 1 07/27/201 1 07/27/201 1 07/28/201 1 07/29/201 1 TOTAL FIRST QUARTER MATURITIES JULY AUGUST 03/09/2007 08/01/2007 08/31/2007 05/08/2008 03/31/2009 05/11/2009 12/30/2009 04/02/2009 06/29/2009 01/20/2010 10/01/2009 03/19/2007 01/23/2009 06/22/2009 02/11/2009 11/24/2009 05/30/2008 Type FA FA FA CN FA FA FA FA FA FA FA FA FA FA FA Security FNMA FHLB FNMA GENERAL ELECTRIC FNMA FNMA FHLMC FHLMC FHLB FNMA FFCB FNMA FNMA FHLMC FHLB Call Date 01/11/2012 10/14/2011 01/18/2012 N/A 04/13/2012 N/A 10/26/2011 10/26/2011 08/26/201 1 01/27/2012 07/27/2012 01/05/2012 01/27/2012 10/28/2011 08/04/201 1 2011-2010 FA FA FA FA FA FA FA CN FA TR FA FA FA FA FN TR CN FNMA FAMCA FAMCA FAMCA FFCB FAMCA FHLMC ROYAL BANK OF CANADA FHLB US TREASURY FHLB FHLB FHLB FFCB FICO US TREASURY WELLS FARGO N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Par Value 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,500,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 3,500,000.00 2,000,000.00 2,000,000.00 2,000,000.00 5,000,000.00 35,000,000.00 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 1,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 5,000,000.00 1,000,000.00 Coupon 1.75% STEP 1.550% 2.100% 2.100% 2.000% 0.000% 2% STEP 2% STEP 2.250% 1 .700% 1 .550% 2.000% 1.550% 0.75% STEP 0.750% 3.640% 5.500% 5.500% 5.500% 3.625% 5.500% 5.250% 5.650% 1 .625% 1.000% 1.375% 5.750% 5.750% 3.875% 0.000% 1.000% 5.300% Amount (Cost) 2,000,000.00 1,997,500.00 1,991,000.00 2,037,760.00 2,019,620.00 2,419,825.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 3,500,000.00 1,999,800.00 2,000,000.00 2,000,000.00 5,000,000.00 34,965,505.00 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 1,066,260.00 2,012,680.00 1,005,625.00 1,006,100.00 3,111,810.00 1,097,950.00 3,152,520.00 1,889,240.00 5,031,445.31 1,032,919.79 Return Rate 2.138% 1.580% 2.196% 1.320% 1 .730% 1.020% 2.310% 2.310% 2.250% 1 .700% 1.550% 2.002% 1.550% 1 .266% 0.750% 1.613% 4.805% 5.175% 4.781% 3.545% 1.639% 2.050% 0.900% 2.659% 1.315% 0.630% 1.375% 4.800% 1.818% 1.490% 2.300% 0.641% 4.200% Interest 215,000.00 134,422.22 219,000.00 65,956.67 129,602.22 80,175.00 232,500.00 232,500.00 225,000.00 136,000.00 217,000.00 197,755.56 124,000.00 76,250.00 75,208.33 2,360,370.00 406,997.78 618,286.67 118,184.21 233,760.22 85,530.00 46,807.78 25,313.30 63,690.00 54,847.78 9,673.91 19,261.11 648,148.33 49,313.89 100,323.75 110,760.00 56,814.36 138,741.32 Investment Return 2,215,000.00 2,131,922.22 2,210,000.00 2,103,716.67 2,149,222.22 2,500,000.00 2,232,500.00 2,232,500.00 2,225,000.00 2,136,000.00 3,717,000.00 2,197,555.56 2,124,000.00 2,076,250.00 5,075,208.33 37,325,875.00 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 1,129,950.00 2,067,527.78 1,015,298.91 1,025,361.11 3,759,958.33 >< 1,147,263.89 « 3,252,843.75 W 2,000,000.00 |^ 5,088,259.67 1,171,661.11 City of Carlsbad TRANSACTIONS FOR PERIOD: 07/01/11 TO 07/31/11 1ST QUARTER 2011-2012 Trans Date Investment Date Type TOTAL FIRST QUARTER 2011-2010 Security CALLS JULY 03/17/2011 03/01/2011 02/16/2011 05/05/2011 03/29/201 1 10/19/2010 03/24/201 1 01/25/2011 01/26/2011 06/16/2011 06/04/2010 06/08/2010 01/28/2011 10/15/2010 FA FA FA FA FA FA FA FA FA FA FA FA FA FA FHLB FNMA FNMA FFCB FHLMC FHLMC FHLMC FNMA FHLB FNMA FNMA FNMA FHLMC FHLB TOTAL FIRST QUARTER 2011-2010 Call Date 07/01/2011 07/01/2011 07/01/2011 07/06/2011 07/13/2011 07/19/2011 07/21/2011 07/25/2011 07/26/2011 07/27/2011 07/28/201 1 07/28/201 1 07/28/201 1 07/29/2011 Par Value 31,366,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 500,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 Coupon 2.000% 1.500% 1 .200% 1.500% 2.750% 0.5% STEP 2.500% 2.600% 2.590% 1.75% STEP 3.000% 3.000% 2. 15% STEP 1 .450% Amount (Cost) 32,082,322.49 2,007,940.00 2,000,000.00 1,989,940.00 2,000,000.00 1,999,000.00 1,000,000.00 1,999,500.00 2,000,000.00 500,000.00 2,001,500.00 2,037,406.00 2,040,000.00 2,000,000.00 2,009,400.00 Return Rate 2.558% 1.864% 1.500% 1.390% 1.500% 2.761% 1.021% 2.505% 2.600% 2.590% 2.677% 2.522% 2.488% 2.605% 1.322% Interest 2,786,454.41 120,000.00 80,000.00 75,060.00 101,583.33 264,388.89 25,625.00 241,750.00 260,000.00 25,900.00 222,486.11 211,594.00 208,333.33 262,500.00 100,477.78 Investment Return 34,868,776.90 2,127,940.00 2,080,000.00 2,065,000.00 2,101,583.33 2,263,388.89 1,025,625.00 2,241,250.00 2,260,000.00 525,900.00 2,223,986.11 2,249,000.00 2,248,333.33 2,262,500.00 2,109,877.78 25,500,000.00 25,584,686.00 2.110% 2,199,698.44 27,784,384.44 INVESTMENT REPORT AS OF JULY 31, 2011 INVESTMENT DATE 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 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 01/25/2010 01/20/2010 03/16/2010 01/29/2009 12/24/2009 06/04/2010 06/04/2010 05/05/2008 08/22/2008 06/04/2010 03/08/2010 10/01/2009 ^ 11/25/2009 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 SECURITY FHLB 1.375% NON-CALL FHLB5.75% 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 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 FAMCA 2.1% NON-CALL FNMA 1.75% NON-CALL FNMA 1.75% NON-CALL FHLB 4.625% NON-CALL FHLB 4.625% NON-CALL FHLB 2.4% NON-CALL FHLB 1.1 % NON-CALL FHLB 5.00% NON-CALL FHLB 4.5% NON-CALL FHLB 2.00% NON-CALL FHLMC 2.125% NON-CALL FFCB 1.80% NON-CALL FFCB 1.80% NON-CALL PAR VALUE 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 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 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 INVESTED AMOUNT 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 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 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 RETURN RATE 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% 5.235% 1 .534% 5.255% 5.250% 3.900% 1.015% 1 .496% 1 .280% 1.320% 3.910% 1 .243% 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% INTEREST 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 20,364.00 167,200.00 489,057.50 524,632.22 128,989.85 256,692.64 256,478.21 460,552.31 104,515.20 120,622.62 70,024.94 34,653.19 310,466.67 58,188.78 116,583.16 44,578.33 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 INVESTMENT RETURN 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 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 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 TERM (Days) 673 1,610 934 794 1,649 1,639 959 1,416 664 1,665 708 707 1,705 693 730 932 1,788 1,764 947 1,780 1,780 1,424 750 972 939 907 1,448 856 784 952 928 933 878 1,294 965 803 816 1,593 1,484 833 928 1,089 1,034 fdXffi H WH 1-3 INVESTMENT REPORT AS OF JULY 31, 2011 INVESTMENT DATE TYPE SECURITY 05/11/2009 FA FHLMC 3.875% NON-CALL 12/10/2007 FA FFCB4.5% 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 10/20/2009 FA FHLMC 4.25% NON-CALL 03/02/2011 FA FHLMC .625% CALL 5/23/11 QRTLY 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 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 07/29/2011 FA FHLB 0.75%CALL 8/4/11 CONT 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 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 01/20/2009 FA FHLB 3.125% NON-CALL 12/20/2010 FA FFCB 1.375% CALL CONT 06/27/2011 FA FHLB .0875% CALL CONT 02/12/2010 FA FFCB 3.00% NON-CALL 09/17/2010 FA FNMA 1.3% CALL 3/17/11 04/18/2011 FA FHLMC 1.50% ONE CALL 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 06/30/2011 FA FHLMC .5% CALL QRTLY STEP 07/28/2011 FA FHLMC .75% CALL QRTLY STEP 03/24/2010 FA FHLB 5.5% NON-CALL 02/25/2011 FA FHLMC 2.0% CALL 8/25/11 ONE TIME ^ 05/25/2011 FA FHLB 1.50% CALL 8/25/11 PAR VALUE 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 3,000,000.00 500,000.00 2,000,000.00 500,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 5,000,000.00 1,000,000.00 2,000,000.00 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 2,000,000.00 1,150,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 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 INVESTED AMOUNT 1,063,510.00 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 2,963,940.00 536,967.86 1,983,520.00 532,794.50 1,065,788.37 2,130,988.03 1,993,760.00 1,987,226.45 2,035,600.00 5,000,000.00 1,005,669.88 2,006,760.00 1,007,890.00 2,154,940.00 3,222,330.00 1,065,180.00 2,000,000.00 2,235,072.36 2,000,000.00 2,000,000.00 2,047,941.08 1,150,000.00 1,999,500.00 1,028,536.49 2,000,000.00 2,000,000.00 1,998,000.00 1,014,759.55 3,016,423.52 3,234,480.00 2,000,000.00 2,000,000.00 3,395,255.41 2,000,000.00 2,000,000.00 RETURN RATE 1 .928% 4.100% 1 .200% 3.890% 1 .673% 0.939% 4.250% 1.926% 0.600% 3.765% 2.100% 1 .000% 2.120% 3.800% 2.450% 1.479% 2.040% 3.970% 0.750% 2.550% 1.125% 3.818% 2.625% 1.930% 2.000% 2.000% 2.264% 0.840% 0.875% 2.600% 1 .375% 0.885% 2.250% 1.300% 1.500% 1.030% 3.167% 2.363% 2.595% 1.500% 0.750% 2.323% 2.000% 1.500% INTEREST 67,701.81 401,970.00 86,720.34 331,405.40 50,500.00 72,897.50 637,500.00 67,316.94 15,503.56 560,476.67 39,296.03 44,292.50 40,094.39 181,163.02 195,081.41 91,031.67 142,273.55 392,177.78 75,208.33 102,330.12 62,128.89 184,776.67 259,712.78 211,826.25 75,181.11 140,000.00 193,522.08 50,400.00 52,500.00 258,135.31 47,437.50 44,250.00 91,463.51 91,000.00 104,666.67 70,388.89 121,601.56 300,034.82 381,665.83 93,125.00 76,250.00 328,45292 140,000.00 97,500.00 INVESTMENT RETURN 1,131,211.81 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 3,524,416.67 576,263.89 2,027,812.50 572,888.89 1,246,951.39 2,326,069.44 2,084,791.67 2,129,500.00 2,427,777.78 5,075,208.33 1,108,000.00 2,068,888.89 1,192,666.67 2,414,652.78 3,434,156.25 1,140,361.11 2,140,000.00 2,428,594.44 2,050,400.00 2,052,500.00 2,306,076.39 1,197,437.50 2,043,750.00 1,120,000.00 2,091,000.00 2,104,666.67 2,068,388.89 1,136,361.11 3,316,458.34 3,616,145.83 2,093,125.00 2,076,250.00 3,723,708.33 2,140,000.00 2,097,500.00 TERM (Days) 1,238 1,773 878 1,624 1,096 904 1,827 1,206 854 1,824 1,310 813 1,331 1,677 1,401 1,127 1,278 1,785 734 1,461 1,006 1,759 1,731 1,283 1,322 1,279 1,463 1,096 1,096 1,788 1,096 914 1,461 1,277 1,092 1,248 1,536 1,542 1,714 1,096 1,096 1,603 1,277 1,188 INVESTMENT REPORT AS OF JULY 31, 2011 INVESTMENT DATE TYPE SECURITY 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 10/06/2010 FA FHLB 1.4% CALL 10/06/11 CONT 10/21/2010 FA FHLB 1.35% CALL 1/21/11 QRTLY 04/27/2011 FA FHLMC 2.0% QRTLY CALLS 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 02/18/2011 FA FNMA 2.0% CALL 8/18/11 ONETIME 12/01/2010 FA FFCB 1.60% CALL CONT 06/15/2011 FA FHLB 1.00% CALL QRTLY STEP 06/15/2011 FA FFCB 1.37% CALL CONT 04/26/2011 FA FNMA 2.0% ONE CALL 06/29/2011 FA FHLMC 1.25% CALL 6/29/12 03/30/2011 FA FHLB 1.75% ONE CALL 12/30/11 03/29/2011 FA FFCB 2.1% CALL 1/5/12 CONT 02/02/2011 FA FFCB 2.0% CALL 2/2/12 CONT 05/05/2011 FA FFCB 1.8% CALL 8/5/11 03/23/2011 FA FNMA 2.2% CALL 9/23/11 ONE TIME 07/20/2011 FA FNMA 2.0% CALL 4/13/12 ONE TIME 05/10/2011 FA FHLB 2.0% CALL ONE TIME 06/04/2010 FA FNMA 2.00% CALL 10/29/12 STEP 02/28/2011 FA FHLB 2.0% CALL 5/29/12 CONT 12/03/2010 FA FFCB 1.85% CALL CONT 06/10/2011 FA FFCB 1.69% CALL CONT 06/29/2011 FA FFCB 1.6% CALL CONT 01/25/2011 FA FFCB 1.50% CALL 2/2/11 CONT 07/27/2011 FA FNMA 1.70% CALL 1/27/12 07/27/2011 FA FFCB 1.550% CALL 7/2712 CONT 07/27/2011 FA FNMA 1.55% CALL 1/27/12 03/30/2011 FA FHLB 2.0% NON-CALL 08/18/2010 FA FNMA 1.50% CALL 8/18/11 08/25/2010 FA FHLB 1.82% CALL 8/24/11 QRTLY 03/29/2011 FA FHLB 1.82% CALL 8/24/11 QRTLY 04/04/2011 FA FHLB 2.0% NON-CALL 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 09/30/2010 FA FFCB 1.99% CALL 9/30/11 07/12/2011 FA FHLB 1.55% CALL 10/14/11QRTLY 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 PAR VALUE 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 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 2,235,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 3,500,000.00 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 INVESTED AMOUNT 2,000,000.00 2,231,960.00 2,047,400.80 3,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,015,640.00 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 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,019,620.00 2,011,380.00 2,018,771.34 2,235,000.00 1,998,000.00 2,000,000.00 2,000,000.00 1,952,000.00 2,000,000.00 3,500,000.00 2,000,000.00 1,999,000.00 1,999,500.00 2,006,000.00 1,976,000.00 2,000,000.00 1,999,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,999,000.00 1,997,500.00 2,000,000.00 2,600,000.00 RETURN RATE 1.500% 2.490% 2.440% 3.163% 1 .400% 1.350% 2.000% 2.950% 1 .553% 2.000% 1 .600% 1 .634% 1.370% 2.000% 1.250% 1.750% 2.100% 2.000% 1 .800% 2.200% 1.730% 1.850% 2.780% 2.000% 1 .873% 1 .690% 1 .600% 2.063% 1 .700% 1.550% 1.550% 2.012% 2.375% 1.757% 2.107% 2.000% 1.861% 1 .740% 1 .875% 2.000% 2.001% 1.550% 2.034% 2.034% INTEREST 120,000.00 237,040.00 222,265.87 479,833.33 112,000.00 108,000.00 140,000.00 270,026.67 62,500.00 150,000.00 128,000.00 115,000.00 95,900.00 146,666.67 87,500.00 131,250.00 158,200.00 160,000.00 135,000.00 176,000.00 129,602.22 146,397.78 277,339.77 190,099.17 168,500.00 135,106.11 128,000.00 182,666.67 136,000.00 217,000.00 124,000.00 174,333.33 240,500.00 175,898.89 184,261.11 176,000.00 185,897.22 174,000.00 187,500.00 200,000.00 200,000.00 134,422.22 205,000.00 266,500.00 INVESTMENT RETURN 2,120,000.00 2,469,000.00 2,269,666.67 3,479,833.33 2,112,000.00 2,108,000.00 2,140,000.00 2,285,666.67 1,062,500.00 2,150,000.00 2,128,000.00 2,115,000.00 2,095,900.00 2,146,666.67 2,087,500.00 2,131,250.00 2,158,200.00 2,160,000.00 2,135,000.00 2,176,000.00 2,149,222.22 2,157,777.78 2,296,111.11 2,425,099.17 2,166,500.00 2,135,106.11 2,128,000.00 2,134,666.67 2,136,000.00 3,717,000.00 2,124,000.00 2,173,333.33 2,240,000.00 2,181,898.89 2,160,261.11 2,176,000.00 2,184,897.22 2,174,000.00 2,187,500.00 2,200,000.00 2,199,000.00 2,131,922.22 2,205,000.00 2,866,500.00 TERM (Days) 1,461 1,633 1,643 1,825 1,461 1,461 1,279 1,650 1,461 1,369 1,461 1,279 1,279 1,340 1,279 1,371 1,378 1,461 1,372 1 ,461 1,363 1,441 1,790 1,551 1,643 1,460 1,461 1,638 1,461 1,461 1,461 1,583 1,826 1,825 1,609 1,607 1,825 1,826 1,826 1,826 1,826 1,555 1,826 1,826 INVESTMENT REPORT AS OF JULY 31,2011 INVESTMENT DATE TYPE SECURITY 10/27/2010 FA FNMA 1.55% CALL 10/27/11 10/28/2010 FA FNMA 1.50% CALL 4/28/11 06/08/2011 FA FNMA 1.00% CALL QRTLY STEP 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 05/19/2011 FA FNMA 1.0% CALL QRTLY 11/16/2010 FA FNMA 1.7% CALL 5/16/11 QRTLY 05/17/2011 FA FHLB 1.55% CALL QRTLY 12/01/2010 FA FHLB 1.0% CALL QRTLY STEP 04/13/2011 FA FHLB 1.0% CALL QRTLY STEP 11/23/2010 FA FFCB 2.0% CALL 5/23/12 CONT 06/06/2011 FA FFCB 1.98% CALL CONT 12/28/2010 FA FHLMC 2.05% ONE CALL 12/28/11 12/30/2010 FA FAMCA2.57% CALL SEMI-ANNUAL 05/12/2011 FA FHLB 2.0% CALL CONT 06/01/2011 FA FHLB 2.0% CALL CONT 01/26/2011 FA FHLB 2.590% CALL CONT 02/16/2011 FA FNMA 2.0% CALL 8/16/11 QRTLY STEP 02/18/2011 FA FNMA 2.0% CALL 8/18/11 QRTLY STEP 02/25/2011 FA FNMA 2.85% CALL 8/25/11 QRTLY 03/09/2011 FA FHLMC 2.5% CALL 9/09/11 QRTLY STEP 03/25/2011 FA FHLMC 2.0% CALL 9/15/11 QRTLY STEP 04/08/2011 FA FHLB 2.7% QRTLY CALLS 04/25/2011 FA FNMA 2.65% CALL 4/25/12 ONE TIME 04/27/2011 FA FHLB 2.5% NON-CALL 05/03/2011 FA FAMCA 2.55% CALL 05/26/2011 FA FHLB 2.0% CALL STEP 06/23/2011 FA FHLB 2.010% CALL QRTLY STEP 06/29/2011 FA FHLMC 2.10% CALL 06/29/2011 FA FNMA 1.50% CALL STEP 06/30/2011 FA FNMA 1.20% CALL STEP 06/30/2011 FA FHLB 2.2% CALL 07/27/2011 FA FNMA 2.0% CALL ONE TIME 07/11/2011 FA FNMA 1.75% CALL QRTLY STEP 07/18/2011 FA FNMA 2.10% CALL QRTLY 07/26/2011 FA FHLMC 2.0% CALL QRTLY STEP 07/26/2011 FA FHLMC 2.0% CALL QRTLY STEP 07/26/2011 FA FHLB 2.250% CALL MONTHLY PAR VALUE 2,000,000.00 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 2,000,00000 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 2,410,000.00 1,500,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 900,000.00 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 4,000,000.00 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 INVESTED AMOUNT 1,998,000.00 1,999,000.00 1,995,000.00 2,155,000.00 2,000,000.00 1,998,740.00 1,993,000.00 1,997,000.00 1,976,000.00 1,000,000.00 1,957,500.00 2,000,000.00 2,000,000.00 2,000,000.00 1,999,000.00 1,996,000.00 2,408,795.00 1,500,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 900,000.00 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 4,000,000.00 2,000,000.00 3,000,000.00 1,999,800.00 2,000,000.00 1,991,000.00 2,000,000.00 2,000,000.00 2,000,000.00 RETURN RATE 1 .579% 1.510% 1 .000% 1 .932% 1.789% 1 .728% 2.147% 1.731% 1 .829% 2.746% 2.421% 2.000% 1 .979% 2.050% 2.581% 2.045% 2.011% 1.826% 2.718% 2.700% 2.850% 3.000% 2.790% 2.700% 2.661% 2.500% 2.550% 2.000% 2.010% 2.100% 2.250% 2.545% 2.200% 2.002% 2.138% 2.196% 2.310% 2.310% 2.250% INTEREST 157,000.00 151,000.00 189,027.78 210,112.50 180,000.00 173,760.00 193,944.44 173,000.00 163,586.11 139,666.67 222,000.00 200,000.00 176,880.00 205,000.00 258,000.00 192,111.11 225,335.00 174,825.00 275,000.00 270,000.00 285,000.00 302,500.00 125,500.00 270,000.00 266,000.00 250,000.00 254,858.33 233,750.00 226,850.00 210,000.00 450,000.00 258,000.00 330,000.00 197,755.56 215,000.00 219,000.00 232,500.00 232,500.00 225,000.00 INVESTMENT RETURN 2,155,000.00 2,150,000.00 2,184,027.78 2,365,112.50 2,180,000.00 2,172,500.00 2,186,944.44 2,170,000.00 2,139,586.11 1,139,666.67 2,179,500.00 2,200,000.00 2,176,880.00 2,205,000.00 2,257,000.00 2,188,111.11 2,634,130.00 1,674,825.00 2,275,000.00 2,270,000.00 2,285,000.00 2,302,500.00 1,025,500.00 2,270,000.00 2,265,000.00 2,250,000.00 2,254,858.33 2,233,750.00 2,226,850.00 2,210,000.00 4,450,000.00 2,258,000.00 3,330,000.00 2,197,555.56 2,215,000.00 2,210,000.00 2,232,500.00 2,232,500.00 2,225,000.00 TERM (Days) 1,826 1,826 1,603 1,826 1,826 1,826 1,635 1,826 1,646 1,814 1,681 1,826 1,632 1,826 1,826 1,719 1,699 1,826 1,826 1,826 1,826 1,827 1,817 1,837 1,827 1,827 1,826 1,827 1,827 1,827 1,827 1,827 1,827 1,805 1,827 1,827 1,827 1,827 1,827 SUB-TOTAL 351,534,000.00 356,592,374.52 2.122% 31,748,279.40 388,340,653.92 02/11/2009 FN FICO STRIP 0.00% NON-CALL 2,000,000.00 1,889,240.00 2.300%110,760.00 2,000,000.00 908 INVESTMENT REPORT AS OF JULY 31, 2011 INVESTMENT DATE 02/18/2009 02/25/2009 03/02/2009 03/02/2009 03/09/2010 01/18/2011 11/24/2010 03/09/2011 07/25/2011 11/24/2009 02/23/2010 03/24/2010 11/10/2008 11/12/2008 05/30/2008 05/30/2008 05/12/2009 05/29/2007 08/14/2009 04/28/2009 08/17/2009 03/20/2007 10/11/2007 11/15/2007 05/12/2009 05/05/2009 04/21/2009 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 TYPE FN FN FN FN FN FA FN FN FN TR TR TR TR TR CN CN CN CN CN CN 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 0.0% NON-CALL FICO 0.0% NON-CALL FICO 0.0% NON-CALL FICO 0.00% NON-CALL FNMAO% NON-CALL FNMA .00% NON-CALL FNMA 00% NON-CALL SUB-TOTAL Federal Investments Total US TREASURY 1.00% US TREASURY 1.00% US TREASURY 1.00% US TREASURY 3.1 25% US TREASURY 4.0% SUB-TOTAL WELLS FARGO CO 5.30% NON-CALL GENWORTH GLOBAL 5.375% NON-CALL MET LIFE GLOBAL FUNDING 5.125% NON-CALL GENERAL ELECTRIC 5.50% CALL 11/15/08 SUNTRUST BANK 3.0% NON-CALL CITIGROUP 2.875% NON-CALL TOYOTA 5.25% NON-CALL GENERAL ELECTRIC 5.875% NON-CALL GENERAL ELETRIC 5.875% NON-CALL GENERAL ELETRIC 5.875% NON-CALL CHEVRON 3.450% NON-CALL BARCLAYS BANK 2.7% NON-CALL BERKSHIRHATWY4.00% 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 PAR VALUE 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,076,000.00 2,000,000.00 2,657,000.00 2,500,000.00 19,233,000.00 370,767,000.00 5,000,000.00 3,000,000.00 8,000,000.00 1,000,000.00 1,000,000.00 18,000,000.00 1 ,000,000.00 2,000,000.00 1,000,000.00 1,850,000.00 2,000,000.00 2,000,000.00 2,250,000.00 5,956,000.00 3,000,000.00 2,000,000.00 3,000,000.00 1,575,000.00 1,000,000.00 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 INVESTED AMOUNT 916,713.56 1,826,280.00 1,818,680.00 1,793,820.00 1,882,080.00 1,027,655.32 1,922,260.00 2,511,688.67 2,419,825.00 18,008,242.55 374,600,617.07 5,031,445.31 3,016,170.00 8,025,312.50 1,031,328.00 1,030,781.25 18,135,037.06 1,032,919.79 2,016,628.76 1,020,480.00 1,850,000.00 2,066,260.00 2,060,840.00 2,427,570.00 6,187,688.40 3,089,347.40 2,089,414.35 3,103,177.11 1,590,861.34 1,022,563.95 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 RETURN RATE 2.710% 2.850% 3.000% 3.050% 1 .850% 1.370% 1.100% 1 .700% 1 .020% 1.490% 0.641% 0.660% 0.801% 2.430% 2.452% 0.920% 4.200% 5.100% 4.250% 5.500% 1 .500% 1 .680% 1 .800% 4.970% 5.100% 4.700% 2.180% 2.330% 3.200% 3.300% 4.500% 5.200% 4.550% 2.167% 5.050% 4.750% 4.830% 4.500% 4.240% INTEREST 83,286.44 173,720.00 181,320.00 206,180.00 117,920.00 96,689.36 155,480.00 290,622.66 80,175.00 1,496,153.46 33,244,432.86 56,814.36 31,797.03 102,864.30 118,792.86 121,777.13 432,045.68 138,741.32 344,093.46 107,217.92 453,918.06 69,073.33 89,458.61 99,695.62 1,483,867.09 676,360.93 409,960.65 187,485.39 104,626.16 96,769.38 198,882.22 178,375.00 253,896.02 189,541.49 107,473.33 605,158.33 237,753.83 484,836.30 449,799.83 205,539.76 INVESTMENT RETURN 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,124,344.68 2,077,740.00 2,802,311.33 2,500,000.00 19,504,396.01 407,845,049.93 5,088,259.67 3,047,967.03 8,128,176.80 1,150,120.86 1,152,558.38 18,567,082.74 1,171,661.11 2,360,722.22 1,127,697.92 2,303,918.06 2,135,333.33 2,150,298.61 2,527,265.62 7,671,555.49 3,765,708.33 2,499,375.00 3,290,662.50 1,695,487.50 1,119,333.33 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 TERM (Days) 1,178 1,171 1,166 1,314 1,206 1,228 1,319 1,214 1,171 1,188 1,188 645 584 586 1,755 1,783 1,071 1,183 1,203 911 1,631 824 955 857 1,793 1,588 1,553 1 ,026 1,035 1,090 1,088 1,447 1,750 1,477 858 1,459 1,811 1,815 1,792 1,728 INVESTMENT REPORT AS OF JULY 31, 2011 INVESTMENT DATE 03/18/2011 12/28/2010 04/24/2008 05/07/2008 05/12/2009 05/30/2008 05/09/2008 02/11/2011 12/23/2008 05/12/2009 07/18/2011 05/27/2011 05/29/2009 05/20/2010 02/09/2011 05/06/2011 09/30/2010 12/15/2010 12/15/2010 05/06/2011 05/16/2011 06/17/2011 TYPE 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 0 O SECURITY MET LIFE OF CONNECTICUT 5.01% NON-CALL ROYAL BANK OF CANADA 2.25% NON-CALL MET LIFE GLOBAL FUNDING 5.125% NON-CALL MET LIFE GLOBAL FUNDING 5.125% NON-CALL WAL-MART 4.250% NON-CALL ALLSTATE LIFE 5.375% NON-CALL NEW YORK LIFE 4.650% NON-CALL NEW YORK LIFE 4.650% NON-CALL BERKSHIRHATWY4.60% NON-CALL 3 M 4.375% NON-CALL GENERAL ELECTRIC 2.10% NON-CALL WAL-MART 3.20% NON-CALL WAL-MART 3.20% NON-CALL MICROSOFT 2.95% NON-CALL MET LIFE GLOBAL FUNDING 2.5% NON-CALL MET LIFE GLOBAL FUNDING 2.5% NON-CALL ROYAL BANK OF CANADA 1.75% CALL STEP BARCLAYS BANK 3.10% NON-CALL ROYAL BANK OF CANADA 2.625% NON-CALL MASS MUTUAL GLOB 3.125% NON-CALL GENERAL ELECTRIC 2.95% NON-CALL GENERAL ELECTRIC 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 CORPORATION L A I F PUBLIC FINANCING CORPORATION L A I F CITY OF CARLSBAD -CALL ;ALL N-CALL N-CALL CALL 3ALL iTEP •CALL SUB-TOTAL OUNT "VTION )N SUB-TOTAL PAR VALUE 2,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,500,000.00 1,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 81,131,000.00 673,236.00 2,746,398.00 531.67 488.89 25,978,000.00 21,494,000.00 24,674,838.98 31,601,633.00 107,169,126.54 INVESTED AMOUNT 2,121,360.00 2,047,930.00 1,003,232.48 2,019,402.04 1,047,829.91 2,023,559.81 1 ,006,649.66 2,150,000.00 1,023,835.68 2,121,417.76 2,037,760.00 2,645,275.00 1,003,190.00 2,072,820.00 978,478.42 993,799.11 2,000,000.00 2,000,000.00 2,038,220.00 1,024,175.57 2,000,912.32 2,009,952.38 83,390,365.95 673,236.00 2,746,398.00 531.67 488.89 25,978,000.00 21,494,000.00 24,674,838.98 31,601,633.00 107,169,126.54 RETURN RATE 1.561% 1.150% 5.050% 4.900% 2.950% 5.100% 4.500% 1 .250% 4.000% 2.850% 1.320% 1.200% 3.130% 2.005% 3.000% 2.650% 2.255% 3.100% 2.220% 3.125% 2.940% 2.840% 3.357% 0.050% 0.050% 0.000% 0.010% 0.380% 0.380% 0.380% 0.380% 0.369% INTEREST 58,165.00 51,695.00 251,024.46 485,410.46 118,982.59 504,981.86 225,850.34 23,766.67 177,542.10 251,186.41 65,956.67 92,058.33 155,565.56 164,982.78 137,493.80 116,131.45 227,000.00 310,000.00 225,009.16 130,164.71 292,940.46 278,819.84 11,517,251.68 0.92 3.76 - 0.00 274.21 226.88 260.46 333.57 1,099.81 INVESTMENT RETURN 2,179,525.00 2,099,625.00 1 ,254,256.94 2,504,812.50 1,166,812.50 2,528,541.67 1,232,500.00 2,173,766.67 1,201,377.78 2,372,604.17 2,103,716.67 2,737,333.33 1,158,755.56 2,237,802.78 1,115,972.22 1,109,930.56 2,227,000.00 2,310,000.00 2,263,229.16 1,154,340.28 2,293,852.78 2,288,772.22 94,907,617.63 673,236.92 2,746,401.76 531.67 488.89 25,978,274.21 21,494,226.88 24,675,099.44 31,601,966.57 107,170,226.35 TERM (Days) 657 808 1,812 1,799 1,434 1,796 1,826 818 1,604 1,556 904 1,084 1,812 1,473 1,693 1,607 1,826 1,826 1,826 1,805 1,820 1,788 1,432 1 1 1 1 1 1 1 1 GRAND TOTAL 577,067,126.54 583,295,146.62 1.919% 45,194,830.03 628,489,976.65 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF JULY 31, 2011 Cash Balance by Fund: General 64,952,178 Special Revenue 54,262,366 Debt Service 0 Capital Projects: General Capital Construction 60,855,485 Traffic Impact Fees 18,218,295 Public Facilities Fees 46,084,875 Park Development 2,667,423 Transnet Taxes 6,947,603 Drainage Fees 5,671,899 Special Districts 75,397,275 Infrastructure Replacement 68,960,650 Redevelopment 6,504,955 Other Capital Construction 3,589,742 Total 294,898,201 Enterprise: Carlsbad Municipal Water District 74,213,025 Sewer Fund 48,632,090 Solid Waste 7,182,375 Storm Water 2,703,478 Golf Course 315,490 Total 133,046,459 Internal Service 31,948,371 Agency Funds 1,866,525 Misc. Special Funds 0 Total General Ledger Balance ** 580,974,099 Reconciling Adjustments (1) (1,563,514) Total Treasurer's Investment Portfolio at Amortized Cost 579,410,585 (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 8/5/11 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of July 31, 2011 CORPORATE NOTE AND COMMERCIAL PAPER RATINGS Corporate Note Investments Meeting the Current Investment Policy: (Ratings must be AA or better by both Moody's and S&P) Moodv's S&P BARCLAYS BANK AA3 AA- BERKSHIRE HATHAWAY AA2 AA+ CHEVRON AA1 AA CITIGROUP AAA AAA GENERAL ELECTRIC AA2 AA+ JOHNSON& JOHNSON AAA AAA MASS MUTUAL GLOBAL AA2 AA+ MET LIFE GLOBAL AA3 AA- MET LIFE OF CONNECTICUT AA3 AA- MICROSOFT AAA AAA NEW YORK LIFE AAA AAA ROYAL BANK OF CANADA AA1 AA SUNTRUST BANK AAA AAA 3M AA1 AA TOYOTA AA2 AA- WAL-MART AA2 AA Commercial Paper Investments Meeting the Current Investment Policy: (Ratings must be A1/P1 or better by both Moody's and S&P) (Ratings of other debt must be AA or better by Moody's and S&P) NONE Investments with Subsequent Changes in Credit Rating * Latest Carrying Market Moodv's S&P Maturity Date Value Value ALL STATE LIFE A1 A+ 04/30/2013 2,008,372 2,154,140 GENWORTH GLOBAL A2 A 09/15/2011 2,000,606 2,001,140 PRINCIPAL LIFE AA3 A 04/16/2012 1,000,000 1,009,160 PROTECTIVE LIFE A2 AA- 07/15/2012 3,000,000 3,056,070 WELLS FARGO A1 AA- 10/23/2012 2,011,818 2,056,230 * 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 JULY 31, 2011 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 JOHNSONS JOHNSON MASS MUTUAL MET LIFE GLOBAL FUND MET LIFE OF CONNECTICUT 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 3,590,861.34 4,085,739.63 3,103,177.11 2,060,840.00 27,628,277.87 2,016,628.76 1,017,457.28 1,024,175.57 6,015,392.05 2,121,360.00 2,072,820.00 3,156,649.66 1,000,000.00 3,000,000.00 6,086,150.00 2,066,260.00 2,121,417.76 2,427,570.00 4,696,294.91 2,075,734.20 ENCY ISSUER Investment Cost 5,014,908.69 11,154,468.88 75,968,036.57 138,361,126.07 46,745,220.45 91,826,377.92 5,530,478.48 18,135,037.06 Percent of Portfolio* 0.35% 0.62% 0.70% 0.53% 0.35% 4.74% 0.35% 0.17% 0.18% 1.03% 0.36% 0.36% 0.54% 0.17% 0.51% 1.04% 0.35% 0.36% 0.42% 0.81% 0.36% Percent of Portfolio** 0.86% 1.91% 13.02% 23.72% 8.01% 15.74% 0.95% 3.11% $583,295,146.62