HomeMy WebLinkAbout2012-02-28; City Council; 20823; Report on City Investments as of January 31, 20128
CITY OF CARLSBAD - AGENDA BILL
AB# 20.823 REPORT ON CITY INVESTMENTS DEPT. HEAD
MTG. 2/28/12 AS OF JANUARY 31, 2012 CITY ATTY.
DEPT. TRS CITY MGR. [j^ .
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 quarteriy report is also required for
the investments of bond proceeds held separately. The City's pooled investment portfolio as of
the month ended January 31, 2012 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 607,083,932 588,981,396
Cost of Investments 613,908,477 595,583,995
Amortized Cost (1) 610,311,669 592,111,105
Market Value (2) 615,655,285 596,957,842
(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 1/31/12.
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.
The $18 million increase between the December and January reports is due to the receipt of
property taxes at $10.5 million, sales tax at $3.8 million and the closure of a LAIF account
containing $4.6 million in bond proceeds (these funds were placed in the Pooled Investment
Portfolio, temporarily, and were reinvested in eariy February; a corresponding reduction in the
Pooled Investment Portfolio will be reflected in the February report).
FOR CiTY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED • CONTINUED TO DATE SPECIFIC •
DENIED • CONTINUED TO DATE UNKNOWN •
CONTINUED • RETURNED TO STAFF •
WITHDRAWN • OTHER-SEE MINUTES •
AMENDED • COUNCIL RECEIVED THE
REPORT/PRESENTATON
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan@carisbadca.gov
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF JANUARY 31. 2012
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
General Special Revenue
$74.1 $ 54.4
Internal Service /"'"'Bte^ „ •« . ^
$31.4 jlii_lim Capital Projects
Agency/other ^ ^^^B^p $ 295.1
Enterprise $142
Total Treasurer's Investment Portfolio at Amortized Cost
January 31,2012 $610 million
Pooled Investment Interest Income
Current
Month FYTD
Prior
Month FYTD
Current Month
Income
Cash Income Fiscal
Year-to-Date * 7,545,660 6,711,025 834,635
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life
(Years)
Average Yield
To Maturity Modified Duration
November 2011 2.38 1.73% 2.272
December 2011 2.16 1.66% 2.074
January 2012 2.03 1.57% 1.951
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. Third Quarter Transactions
7. Detailed Investment Report
8. Fund Equity in Pooled Investments
9. Corporate Note and Commercial Paper Ratings
10. Percentage Weightings By Corporate Note Issuer
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JANUARY 31, 2012
BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH iNCOME, AND AVERAGE YiELD BY CLASS
Class
CD
FN
CP
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANK ACCT
AMORTIZED COST MARKET VALUE
Current Month Prior Month Current Month Prior Month
4,221,000 5,209,548 5,214,000
20,954,261
0
2,020,779
295,345,082
130,193,615
148,801,364
210
7,239,422
542,936
20,924,094
0
2,021,868
324,454,901
110,014,846
126,828,000
3,256,106
390,290
21,118,032
0
2,094,180
298,789,683
131,859,910
148,801,364
210
7,239,422
542,936
4,209,970
21,084,590
0
2,097,540
327,856,168
111,235,178
126,828,000
0
3,256,106
390,290
Cash Income
Year to Date
3,097
0
0
111,250
5,194,189
1,911.627
324,649
10
838
0
AVERAGE YIELD
Current Month Prior Month
0.99
1.58
0.00
2.44
1.79
2.50
0.38
0.00
0.02
0.02
1.07
1.58
0.00
2.44
1.84
2.65
0.39
0.00
0.05
0.05
TOTALS $610,311,669 $592,111,105 $615,655,285 $596,957,842 7,545,660 1.57% 1.66%
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 Ovemight Cash acccount
Bank Account - General Fund Cash account
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CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JANUARY 31,2012
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 Year
WITHIN 6 MONTHS 7 MONTHS TO 1 YEAR
0
4,561,674
0
0
32,975,615
24,280,471
148,801,364
210
7,239,422
542,936
$218,401,692 (1)
35.6%
0
1,793,820
0
0
43,225,844
8,283,579
0
0
0
0
1 TO 5 YEARS
5,214,000
13,862,925
0
2,062,109
222,066,310
98,998,199
0
0
0
0_
$342,203,542
55.7%
TOTAL % TOTAL
5,214,000
20,218,418
0
2,062,109
298,267,768
131,562,249
148,801,364
210
7,239,422
542,936
$613,908,477
100.0%
$53,303,242 (1)
8.7%
$271,704,935 (1)
44.3%
POLICY: (1) Not less than $129,000,000 to mature within one year. (2/3rds of current year operating budget of $193,817,000.00)
(2) Policy states that not more than 30% of portfolio is to be invested in corporate notes.
0.8%
3.3%
0.0%
0.3%
48.6%
21.4% (2)
24.2%
0.0%
1.2%
0.1%
100.0%
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YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1998 - JANUARY 2012
-^EX-LAIF
I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I M I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I M I I I I I I I I I I I I I M I I I I I I I I I I I I I I I I M I M td X
MARKET YIELD CURVE
6/30/10,6/30/11,1/31/12
Market Rates
3 Mth 2 Yr 5 Yr 10 Yr
3 Mth 2Yr 5 Yr 10 Yr
*06/30/2010 .17 .60 1.77 2.93
06/30/2011 .01 .46 1.76 3.16
o 01/31/2012 .05 .22 .70 1.80
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Cumulative Cash Income
Cumulative
Millions $
14
12
10
8
6
4
2
1.238
FYll-12
(January 2012) Monthly Interest Income
Millions $
1.078 0 893 l-^^^ 0-835
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Interest Income --^-Budget -ii^Actual
8
6
5
2
1
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City of Carlsbad
TRANSACTIONS FOR PERIOD:
01/01/12 TO 01/31/12 3RD QUARTER 2011-2012
Trans Investment Call Par Amount Return Investment
Date Date Type Securitv Date Value CouDon (Cost) Rate Interest Return
BUYS
JANUARY
01/06/2012 01/11/2012 CD SALLIE MAE BANK N/A 248,000.00 1.350% 248.000.00 1.350% 9,869.73 257.869.73
01/06/2012 01/11/2012 CD BARCLAYS BANK DELAWARE N/A 248,000.00 1.250% 248.000.00 1.250% 9,308.49 257.308.49
01/11/2012 01/17/2012 CN NEW YORK UFE N/A 5,000,000.00 1.300% 5,021.951.16 1.150% 172,146.06 5.194.097.22
01/18/2012 01/23/2012 CD LOA BANK CORPORATION N/A 248.000.00 0.850% 248.000.00 0.850% 7,375.11 255.375.11
01/19/2012 01/23/2012 FA FHLB N/A 5,000,000.00 0.520% 5,000.000.00 0.520% 78,000.00 5.078.000.00
01/18/2012 01/25/2012 CD NATIONAL REPUBLIC BANK N/A 249,000.00 1.000% 249,000.00 1.000% 9,966.87 258.966.87
01/20/2012 01/25/2012 CN MET LIFE GLOBAL N/A 5,000,000.00 3.125% 5,189.924.57 2.120% 428.999.04 5.618.923.61
01/24/2012 01/25/2012 FA FNMA 12/14/2012 5,000,000.00 1.650% 5,030.800.00 1.519% 372.304.17 5.403,104.17
01/18/2012 01/30/2012 FA FNMA 01/30/2013 5,000,000.00 1.300% 5,000.000.00 1.300% 325,000.00 5.325.000.00
01/25/2012 01/31/2012 CN BERKSHIRER HATHAWAY N/A 5,000,000.00 1.900% 5,047.739.83 1.700% 427,260.17 5.475.000.00
01/26/2012 01/31/2012 CN HSBC BANK USA N/A 5,000,000.00 2.5% FLOAT 5,000.000.00 1.748% 425,000.00 5,425.000.00
TOTAL THIRD QUARTER 2011-2012 35,993.000.00 36.283.415.56 1.432% 2.265.229.64 38.548.645.20
MATURITIES
JANUARY
06/29/2009 FA FFCB N/A 4,000,000.00 2.000% 4,036,800.00 1.630% 167,200.00 4,204,000.00
TOTAL THIRD QUARTER 2011-2012 4,000,000.00 4,036,800.00 1.630% 167.200.00 4,204,000.00
CALLS
JANUARY
03/29/2011 FA FFCB 01/05/2012 2,000,000.00 2.100% 2,000,000.00 2.100% 158,200.00 2,158,200.00
07/27/2011 FA FNMA 01/05/2012 2,000,000.00 2.000% 1,999,800.00 2.002% 197,755.56 2,197.555.56
07/11/2011 FA FNMA 01/11/2012 2,000,000.00 1.75% STEP 2.000.000.00 2.138% 215.000.00 2,215,000.00
08/18/2011 FA FFCB 01/11/2012 2,000,000.00 1.370% 2.000.000.00 1.370% 116.450.00 2.116.450.00
07/18/2011 FA FNMA 01/18/2012 2,000,000.00 2.100% 1,991.000.00 2.196% 219,000.00 2,210.000.00
08/25/2011 FA FFCB 01/20/2012 3,000,000.00 1.370% 3,000,000.00 1.370% 185,625.00 3,185.625.00
08/25/2011 FA FFCB 01/25/2012 3,000.000.00 0.750% 3.000,000.00 0.750% 67,500.00 3,067.500.00
08/25/2011 FA FFCB 01/25/2012 5,000,000.00 0.850% 5.000.000.00 0.850% 138,125.00 5,138,125.00
10/26/2011 FA FHLMC 01/26/2012 5.000,000.00 1.600% 5.000.000.00 1.600% 400.000.00 5,400.000.00
07/27/2011 FA FNMA 01/27/2012 2,000,000.00 1.700% 2.000.000.00 1.700% 136,000.00 2,136.000.00
07/27/2011 FA FNMA 01/27/2012 2,000.000.00 1.550% 2,000.000.00 1.550% 124,000.00 2,124,000.00
08/04/2011 FA FNMA 01/27/2012 4,000,000.00 2.375% 4,031.120.00 2.209% 442,032.78 4,473,152.78
08/17/2011 FA FHLMC 01/27/2012 3,000,000.00 2.115% 3.011.250.00 2.115% 315,833.33 3,327,083.33
09/16/2011 FA FHLB 01/30/2012 3,000,000.00 1.510% 2,998,500.00 1.520% 228,000.00 3,226,500.00
TOTAL THIRD QUARTER 2011-2012 40,000,000.00 40,031,670.00 1.612% 2,943,521.67 42,975,191.67
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INVESTMENT REPORT
AS OF JANUARY 31,2012
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
05/21/2007 FA FFCB 4.875% DUE 4/12/12 NON-CALL 2,000.000.00 1,987,880.00 5.015% 489,057.50 2,476,937.50 1,788
07/25/2007 FA TVA 6.790% DUE 5/23/12 NON-CALL 2,000.000.00 2.130,980.00 5.235% 524,632.22 2,655,612.22 1.764
10/19/2009 FA TVA 6.790% DUE 5/23/12 NON-CALL 3,000.000.00 3,399,498.48 1.534% 128,989.85 3,528,488.33 947
07/25/2007 FA FHLB 5.375% DUE 6/8/12 NON-CALL 1,000,000.00 1,005.040.00 5.255% 256,692.64 1,261.732.64 1.780
07/25/2007 FA FHLB 5.375% DUE 6/8/12 NON-CALL 1.000,000.00 1.005.254.43 5.250% 256,478.21 1,261,732.64 1.780
07/15/2008 FA FHLB 4.375% DUE 6/8/12 NON-CALL 3.000,000.00 3,050,958.11 3.900% 460,552.31 3,511,510.42 1.424
05/20/2010 FA FHLB 1.375% DUE 6/8/12 NON-CALL 5,000,000.00 5,036.422.30 1.015% 104,515.20 5,140,937.50 750
10/20/2009 FA FFCB 2.125% DUE 6/18/12 NON-CALL 3.000,000.00 3,049.023.21 1.496% 120,622.62 3,169,645.83 972
11/25/2009 FA FFCB 5.45% DUE 6/21/12 NON-CALL 2,000.000.00 2,210,347.28 1.280% 70,024.94 2,280,372.22 939
01/20/2010 FA FHLMC 5.125% DUE 7/15/12 NON-CALL 1,000.000.00 1,092,760.00 1.320% 34,653.19 1.127.413.19 907
08/05/2008 FA FFCB 3.950% DUE 7/23/12 NON-CALL 2,000.000.00 2.002,900.00 3.910% 310,466.67 2.313,366.67 1,448
03/24/2010 FA FHLB 1.25% DUE 7/27/12 NON-CALL 2,000,000.00 2,000,352.89 1.243% 58,188.78 2.058,541.67 856
06/04/2010 FA FHLMC 1.125% DUE 7/27/12 NON-CALL 5,000,000.00 5,004,198.09 1.085% 116,583.16 5,120,781.25 784
12/24/2009 FA FNMA 5.00% DUE 8/2/12 NON-CALL 1,037,000.00 1,127,519.73 1.567% 44,578.33 1,172.098.06 952
01/25/2010 FA FAMCA 2.1% DUE 8/10/12 NON-CALL 1,000,000.00 1,015,908.69 1.460% 37.466.31 1,053.375.00 928
01/20/2010 FA FNMA 1.75% DUE 8/10/12 NON-CALL 1,000,000.00 1,009.004.81 1.390% 35.717.41 1,044.722.22 933
03/16/2010 FA FNMA 1.75% DUE 8/10/12 NON-CALL 3,000,000.00 3,034.050.00 1.268% 91.950.00 3.126.000.00 878
01/29/2009 FA FHLB 4.625% DUE 8/15/12 NON-CALL 2,000.000.00 2,150.960.00 2.391% 176.901.11 2,327.861.11 1,294
12/24/2009 FA FHLB 4.625% DUE 8/15/12 NON-CALL 1,000.000.00 1,078,810.00 1.567% 43.367.08 1.122.177.08 965
06/04/2010 FA FHLB 2.4% DUE 8/15/12 NON-CALL 1,000.000.00 1,027,049.96 1.150% 25.683.37 1,052,733.33 803
06/04/2010 FA FHLB 1.1 % DUE 8/28/12 NON-CALL 4,000.000.00 4,000,013.10 1.100% 98,253.57 4,098,266.67 816
05/05/2008 FA FHLB 5.00% DUE 9/14/12 NON-CALL 1,175.000.00 1,238,814.19 3.640% 192,237.89 1,431.052.08 1,593
08/22/2008 FA FHLB 4.5% DUE 9/14/12 NON-CALL 1,000,000.00 1,022,730.00 3.889% 160,020.00 1,182.750.00 1,484
06/04/2010 FA FHLB 2.00% DUE 9/14/12 NON-CALL 5,000.000.00 5,091,850.00 1.180% 135.927.78 5,227,777.78 833
03/08/2010 FA FHLMC 2.125% DUE 9/21/12 NON-CALL 3,000,000.00 3,058,800.00 1.336% 102.877.08 3,161.677.08 928
10/01/2009 FA FFCB 1.80% DUE 9/24/12 NON-CALL 1,000.000.00 1.003,470.00 1.680% 50,180.00 1,053.650.00 1,089
11/25/2009 FA FFCB 1.80% DUE 9/24/12 NON-CALL 3,000,000.00 3.032.750.01 1.405% 120,099.99 3,152,850.00 1,034
05/11/2009 FA FHLMC 3.875% DUE 9/30/12 NON-CALL 1,000,000.00 1.063,510.00 1.928% 67,701.81 1.131.211.81 1,238
12/10/2007 FA FFCB 4.5% DUE 10/17/12 NON-CALL 2,000.000.00 2,034.780.00 4.100% 401,970.00 2,436,750.00 1,773
06/04/2010 FA FHLB 1.375% DUE 10/29/12 NON-CALL 3,000.000.00 3.012,394.24 1.200% 86,720.34 3,099.114.58 878
06/03/2008 FA FNMA 6.41% DUE 11/13/12 NON-CALL 1,807.000.00 1,990,388.82 3.890% 331,405.40 2,321,794.22 1,624
07/01/2010 FA FHLMC 4.125% DUE 12/21/12 NON-CALL 3,000.000.00 3,233,040.00 0.939% 72,897.50 3,305,937.50 904
01/14/2008 FA FHLB 4.25% DUE 01/14/13 CALL 10/14/08 3,000.000.00 3,000,000.00 4.250% 637,500.00 3,637,500.00 1,827
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INVESTMENT REPORT
AS OF JANUARY 31,2012
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs^
10/20/2009 FA FFCB 5.15% DUE 2/7/13 NON-CALL 1.000,000.00 1,102.490.00 1.926% 67.316.94 1,169.806.94 1.206
10/07/2010 FA FFCB 3.4% DUE 2/7/13 NON-CALL 1,065,000.00 1,133,986.44 0.600% 15.503.56 1,149,490.00 854
03/10/2008 FA FHLB 3.50% DUE 3/8/13 NON-CALL 3.000.000.00 2,963,940.00 3.765% 560.476.67 3,524,416.67 1,824
10/20/2009 FA FHLMC 4.25% DUE 5/22/13 NON-CALL 500.000.00 536.967.86 2.100% 39.296.03 576.263.89 1.310
10/20/2009 FA FHLMC 4.0% DUE 6/12/13 NON-CALL 500.000.00 532,794.50 2.120% 40,094.39 572.888.89 1,331
11/10/2008 FA FHLB 5.375% DUE 6/14/13 NON-CALL 1,000,000.00 1,065,788.37 3.800% 181,163.02 1.246.951.39 1.677
08/13/2009 FA FHLB 4.25% DUE 6/14/13 NON-CALL 2,000,000.00 2,130.988.03 2.450% 195.081.41 2.326.069.44 1,401
05/25/2010 FA FFCB 1.375% DUE 6/25/13 NON-CALL 2,000,000.00 1,993,760.00 1.479% 91.031.67 2.084.791.67 1,127
12/28/2009 FA FHLB 1.85% DUE 6/28/13 NON-CALL 2,000.000.00 1.987,226.45 2.040% 142.273.55 2.129,500.00 1,278
08/27/2008 FA FNMA 4.375% DUE 7/17/13 NON-CALL 2,000.000.00 2,035,600.00 3.970% 392.177.78 2,427,777.78 1,785
08/19/2009 FA FFCB 2.7% DUE 8/19/13 NON-CALL 1,000,000.00 1,005.669.88 2.550% 102.330.12 1.108.000.00 1.461
11/12/2008 FA FHLB 4.0% DUE 9/6/13 NON-CALL 1.000,000.00 1,007.890.00 3.818% 184.776.67 1.192,666.67 1.759
12/17/2008 FA FHLB 4.375% DUE 9/13/13 NON-CALL 2.000.000.00 2,154.940.00 2.625% 259,712.78 2,414,652.78 1,731
03/24/2010 FA FHLMC 4.125% DUE 9/27/13 NON-CALL 3,000,000.00 3,222,330.00 1.930% 211.826.25 3.434,156.25 1,283
02/23/2010 FA FFCB 3.875% DUE 10/7/13 NON-CALL 1,000,000.00 1,065,180.00 2.000% 75,181.11 1,140.361.11 1,322
10/19/2011 FA FNMA 1.125% DUE 10/8/13 NON-CALL 5.000,000.00 5,061,150.00 0.500% 49.631.25 5,110,781.25 720
04/15/2010 FA FHLB 2.00% DUE 10/15/13 NON-CALL 2,000.000.00 2,000,000.00 2.000% 140,000.00 2,140,000.00 1,279
10/19/2009 FA FFCB 5.350% DUE 10/21/13 NON-CALL 2,000.000.00 2,235,072.36 2.264% 193,522.08 2,428,594.44 1,463
01/20/2009 FA FHLB 3.125% DUE 12/13/13 NON-CALL 2,000,000.00 2,047,941.08 2.600% 258,135.31 2,306,076.39 1.788
02/12/2010 FA FFCB 3.00% DUE 2/12/14 NON-CALL 1,000,000.00 1,028,536.49 2.250% 91,463.51 1,120.000.00 1.461
08/26/2011 FA FNMA .75% DUE 2/14/14 CALL 2/14/12 QRTLY STEP 3,000,000.00 3,003.480.00 1.670% 119.520.00 3,123,000.00 903
09/17/2010 FA FNMA 1.3% DUE 3/17/14 CALL 3/17/11 2,000,000.00 2,000,000.00 1.300% 91,000.00 2,091,000.00 1,277
03/24/2010 FA FHLB 2.5% DUE 6/13/14 NON-CALL 3,000,000.00 3,016,423.52 2.363% 300,034.82 3,316,458.34 1,542
10/20/2009 FA FFCB 4.375% DUE 6/30/14 NON-CALL 3.000,000.00 3.234,480.00 2.595% 381,665.83 3,616,145.83 1,714
08/01/2011 FA FFCB 1.0% DUE 8/1/14 CALL 8/1/12 CONT 5,000,000.00 5,000,000.00 1.000% 150,000.00 5,150,000.00 1.096
03/24/2010 FA FHLB 5.5% DUE 8/13/14 NON-CALL 3,000.000.00 3,395,255.41 2.323% 328.452.92 3,723.708.33 1,603
09/08/2010 FA FNMA 1.50% DUE 9/8/14 CALL 3/8/11 2,000,000.00 2,000.000.00 1.500% 120,000.00 2,120,000.00 1,461
03/24/2010 FA FHLB 5.25% DUE 9/12/14 NON-CALL 2,000,000.00 2,231,960.00 2.490% 237,040.00 2,469.000.00 1,633
03/24/2010 FA FFCB 3.0% DUE 9/22/14 NON-CALL 2,000,000.00 2,047.400.80 2.440% 222.265.87 2,269.666.67 1,643
11/07/2011 FA FNMA .80% DUE 10/24/14 CALL 10/24/12 3,000,000.00 3,000,937.50 0.789% 70,195.83 3,071,133.33 1.082
06/29/2011 FA FHLMC 1.25% DUE 12/29/14 CALL 6/29/12 2,000,000.00 2,000,000.00 1.250% 87,500.00 2,087,500.00 1,279
01/23/2012 FA FHLB .52% DUE 1/23/15 NON-CALL 5,000,000.00 5.000,000.00 0.520% 78,000.00 5,078,000.00 1,096
02/02/2011 FA FFCB 2.0% DUE 2/2/15 CALL 2/2/12 CONT 2,000,000.00 2,000,000.00 2.000% 160,000.00 2,160,000.00 1,461
07/20/2011 FA FNMA 2.0% DUE 4/13/15 CALL 4/13/12 ONETIME 2,000,000.00 2,019.620.00 1.730% 129.602.22 2,149,222.22 1,363
INVESTMENT REPORT
AS OF JANUARY 31,2012
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
05/10/2011 FA FHLB 2.0% DUE 4/20/15 CALL ONE TIME 2,000,000.00 2,011,380.00 1.850% 146,397.78 2,157,777.78 1,441
06/04/2010 FA FNMA 2.00% DUE 4/29/15 CALL 10/29/12 STEP 2,000,000.00 2,018,771.34 2.780% 277,339.77 2,296,111.11 1,790
02/28/2011 FA FHLB 2.0% DUE 5/29/15 CALL 5/29/12 CONT 2,235,000.00 2,235,000.00 2.000% 190,099.17 2,425,099.17 1,551
06/29/2011 FA FFCB 1.6% DUE 6/29/15' CALL CONT 2,000,000.00 2,000,000.00 1.600% 128,000.00 2.128,000.00 1.461
07/27/2011 FA FFCB 1.550% DUE 7/27/15 CALL 7/2712 CONT 3.500,000.00 3,500,000.00 1.550% 217,000.00 3,717,000.00 1,461
03/30/2011 FA FHLB 2.0% DUE 7/30/15 NON-CALL 2,000,000.00 1,999,000.00 2.012% 174,333.33 2,173,333.33 1,583
04/04/2011 FA FHLB 2.0% DUE 8/28/15 NON-CALL 2.000,000.00 2,000.000.00 2.000% 176,000.00 2,176,000.00 1,607
09/14/2010 FA FHLB 1.74% DUE 9/14/15 CALL 9/14/12 2.000.000.00 2,000,000.00 1.740% 174,000.00 2,174,000.00 1,826
09/21/2010 FA FNMA 2.0% DUE 9/21/15 CALL 3/21/11 2.000.000.00 2,000,000.00 2.000% 200,000.00 2,200,000.00 1,826
10/28/2010 FA FNMA 1.50% DUE 10/28/15 CALL 14/28/11 2,000,000.00 1,999,000.00 1.510% 151.000.00 2,150,000.00 1,826
11/23/2010 FA FFCB 2.0% DUE 11/23/15 CALL 5/23/12 CONT 2,000,000.00 2,000,000.00 2.000% 200.000.00 2,200,000.00 1,826
08/10/2011 FA FNMA 2.0% DUE 11 /23/15 CALL 5/23/12 5,000,000.00 5,039,000.00 1.809% 389.611.11 5,428,611.11 1,566
04/08/2011 FA FHLB 2.7% DUE 4/18/16 QRTLY CALLS 2.000,000.00 2,000,000.00 2.700% 270.000.00 2,270,000.00 1,837
04/25/2011 FA FNMA 2.65% DUE 4/25/16 CALL 4/25/12 ONE TIME 2.000,000.00 1,999,000.00 2.661% 266.000.00 2,265,000.00 1,827
04/27/2011 FA FHLB 2.5% DUE 4/27/16 NON-CALL 2,000,000.00 2,000,000.00 2.500% 250,000.00 2.250,000.00 1,827
05/03/2011 FA FAMCA 2.55% DUE 5/2/16 CALL 2.000.000.00 2,000,000.00 2.550% 254,858.33 2,254,858.33 1,826
06/29/2011 FA FHLMC 2.10% DUE 6/29/16 CALL 2.000.000.00 2,000,000.00 2.100% 210,000.00 2,210,000.00 1,827
06/29/2011 FA FNMA 1.50% DUE 6/29/16 CALL STEP 4,000,000.00 4,000,000.00 2.250% 450,000.00 4,450,000.00 1,827
08/15/2011 FA FFCB 1.75% DUE 8/15/16 CALL 8/15/12 CONT 2.000,000.00 2.000,000.00 1.750% 175,000.00 2,175.000.00 1,827
08/22/2011 FA FFCB 1.5% DUE 8/22/16 CALL 8/22/12 CONT 2,000.000.00 2,000,000.00 1.500% 150.000.00 2,150,000.00 1,827
08/24/2011 FA FHLB 1.55% DUE 8/24/16 CALL 2/24/12 CONT 4,000,000.00 4,000,000.00 1.550% 310.000.00 4,310,000.00 1,827
08/29/2011 FA FHLB 1.0% DUE 8/24/16 CALL 8/24/12 QRTLY STEP 3,000.000.00 3.000,000.00 1.735% 262.083.33 3,262,083.33 1,822
09/09/2011 FA FHLB .625% DUE 9/9/16 CALL 3/9/12 QRTLY STEP 5.000.000.00 4.990,000.00 1.988% 503,750.00 5,493,750.00 1,827
09/15/2011 FA FNMA 2.0% DUE 9/15/16 CALL 3/15/12 5.000.000.00 5.034,900.00 1.853% 465.100.00 5,500,000.00 1,827
09/16/2011 FA FNMA 1.45% DUE 9/16/16 CALL 3/16/12 QRTLY 5.000.000.00 5,000,000.00 1.450% 362.500.00 5,362,500.00 1.735
09/20/2011 FA FHLMC 1.0% DUE 9/20/16 CALL 12/20/11 QRTLY 3.000.000.00 2,998,500.00 1.839% 279.000.00 3,277.500.00 1,827
09/28/2011 FA FHLMC 1.35% DUE 9/28/16 CALL 3/28/12 QRTLY STE 5,000.000.00 5,000,000.00 1.505% 377.500.00 5,377.500.00 1,827
09/29/2011 FA FNMA 1.25% DUE 9/28/16 CALL 3/28/12 STEP 5.000.000.00 5.000,000.00 1.445% 362.326.39 5.362.326.39 1.826
10/03/2011 FA FFCB 1.48% DUE 10/3/16 CALL 4/3/12 CONT 5,000,000.00 5,000,000.00 1.480% 370.000.00 5,370.000.00 1,827
10/06/2011 FA FFCB 1.30% DUE 10/06/16 NON-CALL 5,000,000.00 5.000,000.00 1.300% 325,000.00 5,325,000.00 1,827
10/11/2011 FA FFCB 1.370% DUE 10/11/16 CALL 10/11/12 CONT 5.000.000.00 5,000,000.00 1.370% 342,500.00 5,342.500.00 1,827
10/12/2011 FA FNMA 1.25% DUE 10/12/16 CALL 4/12/12 QRTLY 4.000,000.00 3.990,400.00 1.250% 259,600.00 4,250,000.00 1,827
10/19/2011 FA FHLMC .50% DUE 10/19/16 CALL 4/19/12 QRTLY STE 5.000.000.00 5.000.000.00 1.125% 659,375.00 5,659,375.00 1,827
10/24/2011 FA FNMA 1.70% DUE 10/24/16 CALL 10/24/12 QRTLY 5.000,000.00 5,000,000.00 1.700% 425,000.00 5,425.000.00 1,827
\ 10/26/2011 FA FNMA 1.125% DUE 10/26/16 CALL 10/26/12 QRTLY S" 5,000,000.00 5,000,000.00 1.810% 462,500.00 5,462,500.00 1,827
INVESTMENT REPORT
AS OF JANUARY 31,2012
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
10/27/2011 FA FHLB .50% DUE 10/27/16 CALL 4/27/12 QRTLY STEP 5,000,000.00 4,996,250.00 1.870% 472,500.00 5,468.750.00 1,827
11/16/2011 FA FNMA 1.80% DUE 11/16/16 QRTLY CALLS 5,000,000.00 5,000,000.00 1.800% 450,000.00 5,450,000.00 1,827
11/16/2011 FA FNMA 1.35% DUE 11/16/16 QRTLY CALLS 5,000,000.00 4,962,500.00 1.506% 375,000.00 5.337,500.00 1,827
11/23/2011 FA FNMA 1.25% DUE 11/23/16 STEP QRTLY CALLS 5,000,000.00 5,000,000.00 1.688% 425,000.00 5.425.000.00 1,827
01/25/2012 FA FNMA 1.65% DUE 12/14/16 QRTLY CALLS 5,000,000.00 5,030,800.00 1.519% 372,304.17 5,403.104.17 1,785
01/30/2012 FA FNMA 1.30% DUE 1/30/17 QRTLY CALL 1/30/13 5,000.000.00 5,000,000.00 1.300% 325,000.00 5.325.000.00 1,827
SUB-TOTAL 293,819,000.00 298,267,768.37 1.789% 24,246.862.23 322,514,630.60 -
02/18/2009 FN FICO STRIP 0.00% DUE 5/11/12 NON-CALL 1,000,000.00 916,713.56 2.710% 83,286.44 1,000.000.00 1,178
02/25/2009 FN FICO STRIP 0.00% DUE 5/11/12 NON-CALL 2,000,000.00 1,826,280.00 2.850% 173,720.00 2,000,000.00 1,171
03/02/2009 FN FICO 0.0% DUE 5/11/12 NON-CALL 2,000.000.00 1,818,680.00 3.000% 181,320.00 2,000.000.00 1,166
03/02/2009 FN FICO 0.0% DUE 10/06/12 NON-CALL 2,000.000.00 1,793,820.00 3.050% 206,180.00 2.000.000.00 1.314
03/09/2010 FN FICO 0.0% DUE 6/27/13 NON-CALL 2.000.000.00 1,882,080.00 1.850% 117,920.00 2,000.000.00 1,206
10/04/2011 FN TENNESSEE VALLEY AUTHORITY 0.00% DUE 11/1/1 4,143.000.00 4,099,415.64 0.510% 87,168.72 4.186,584.36 759
01/18/2011 FN FICO 0.00% DUE 5/30/14 NON-CALL 1,076.000.00 1,027,655.32 1.370% 96,689.36 1.124.344.68 1,228
11/24/2010 FN FNMA 0% DUE 7/5/14 NON-CALL 2,000,000.00 1,922,260.00 1.100% 155,480.00 2.077,740.00 1,319
03/09/2011 FN FNMA .00% DUE 7/5/14 NON-CALL 2,657.000.00 2,511,688.67 1.700% 290,622.66 2.802,311.33 1,214
07/25/2011 FN FNMA 00% DUE 10/08/14 NON-CALL 2,500,000.00 2.419,825.00 1.020% 80,175.00 2.500,000.00 1,171
SUB-TOTAL 21,376,000.00 20,218,418.19 1.582% 1,472,562.18 21,690,980.37 1,173
Federal Investments Totai 315,195,000.00 318,486,186.56 25,719,424.41 344,205,610.97 1,173
11/10/2008 TR US TREASURY 3.125% DUE 9/30/13 1,000,000.00 1,031,328.00 2.430% 118,792.86 1.150,120.86 1,755
11/12/2008 TR US TREASURY 4.0% DUE 9/6/13 1,000.000.00 1,030,781.25 2.452% 121,777.13 1,152,558.38 1,783
SUB-TOTAL 2,000.000.00 2,062,109.25 2.441% 240,569.99 2,302,679.24 1,769
03/20/2007 CN GENERAL ELECTRIC 5.875% DUE 2/15/12 NON-CALL 5,956.000.00 6,187,688.40 4.970% 1.483.867.09 7,671,555.49 1,793
10/11/2007 CN GENERAL ELETRIC 5.875% DUE 2/15/12 NON-CALL 3,000.000.00 3,089,347.40 5.100% 676.360.93 3,765,708.33 1,588
11/15/2007 CN GENERAL ELETRIC 5.875% DUE 2/15/12 NON-CALL 2,000.000.00 2,089,414.35 4.700% 409.960.65 2,499,375.00 1,553
05/05/2009 CN BARCLAYS BANK 2.70% DUE 3/5/12 NON-CALL 1,575.000.00 1,590,861.34 2.330% 104.626.16 1,695,487.50 1,035
04/21/2009 CN BERKSHIRHATWY 4.00% DUE 4/15/12 NON-CALL 1,000,000.00 1,022,563.95 3.200% 96,769.38 1,119,333.33 1,090
04/23/2009 CN BERKSHIRHATWY 4.00% DUE 4/15/12 NON-CALL 2,000,000.00 2,039,340.00 3.300% 198,882.22 2,238,222.22 1,088
INVESTMENT REPORT
AS OF JANUARY 31,2012
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
04/30/2008 CN PRINCIPAL LIFE INC 4.5% DUE 4/16/12 NON-CALL 1,000,000.00 1,000.000.00 4.500% 178,375.00 1,178,375.00 1,447
08/31/2007 CN GENERAL ELECTRIC 6.00% DUE 6/15/12 NON-CALL 1,000,000.00 1.033,437.31 5.200% 253,896.02 1,287.333.33 1,750
05/30/2008 CN GENERAL ELECTRIC 6.00% DUE 6/15/12 NON-CALL 1,000,000.00 1.052.958.51 4.550% 189,541.49 1,242.500.00 1,477
02/08/2010 CN GENERAL ELECTRIC 6.00% DUE 6/15/12 NON-CALL 2,000,000.00 2.174,860.00 2.167% 107,473.33 2,282,333.33 858
07/17/2008 CN PROTECTIVE LIFE 5.050% DUE 7/15/12 NON-CALL 3,000,000.00 3,000.000.00 5.050% 605,158.33 3,605.158.33 1,459
08/31/2007 CN JOHNSON & JOHNSON 5.15% DUE 8/15/12 NON-CAL 1,000,000.00 1.017,457.28 4.750% 237,753.83 1.255,211.11 1.811
10/31/2007 CN GENERAL ELECTRIC 5.250% DUE 10/19/12 NON-CAL 2,000,000.00 2.036,663.70 4.830% 484.836.30 2,521,500.00 1.815
11/23/2007 CN GENERAL ELECTRIC 5.250% DUE 10/19/12 NON-CAL 2,000.000.00 2,065,283.50 4.500% 449.799.83 2,515,083.33 1.792
01/30/2008 CN WELLS FARGO 5.250% DUE 10/23/12 NON-CALL 1,000,000.00 1.042,814.41 4.240% 205.539.76 1,248,354.17 1.728
03/18/2011 CN MET LIFE OF CONNECTICUT 5.01% DUE 1/3/13 NON 2,000,000.00 2.121.360.00 1.561% 58.165.00 2,179.525.00 657
12/28/2010 CN ROYAL BANK OF CANADA 2.25% DUE 3/15/13 NON 2.000,000.00 2.047,930.00 1.150% 51,695.00 2,099.625.00 808
04/24/2008 CN MET LIFE GLOBAL FUNDING 5.125% DUE 4/10/13 NC 1,000,000.00 1,003.232.48 5.050% 251,024.46 1,254,256.94 1,812
05/07/2008 CN MET LIFE GLOBAL FUNDING 5.125% DUE 4/10/13 NC 2,000,000.00 2,019,402.04 4.900% 485.410.46 2,504,812.50 1,799
05/12/2009 CN WAL-MART 4.25% DUE 4/15/13 NON-CALL 1,000,000.00 1.047.829.91 2.950% 118.982.59 1,166,812.50 1,434
05/30/2008 CN ALLSTATE LIFE 5.375% DUE 4/30/13 NON-CALL 2.000,000.00 2,023,559.81 5.100% 504,981.86 2,528,541.67 1.796
05/09/2008 CN NEW YORK LIFE 4.650% DUE 5/9/13 NON-CALL 1,000.000.00 1,006,649.66 4.500% 225,850.34 1,232,500.00 1.826
02/11/2011 CN NEW YORK LIFE 4.650% DUE 5/9/13 NON-CALL 2.000.000.00 2,150,000.00 1.250% 23,766.67 2,173,766.67 818
12/23/2008 CN BERKSHIRHATWY 4.60% DUE 5/15/13 NON-CALL 1,000.000.00 1,023,835.68 4.000% 177.542.10 1,201.377.78 1.604
05/12/2009 CN 3M 4.375% DUE 8/15/13 NON-CALL 2,000,000.00 2,121.417.76 2.850% 251.186.41 2,372,604.17 1,556
07/18/2011 CN GENERAL ELECTRIC 2.10% DUE 1/7/14 NON-CALL 2,000,000.00 2.037.760.00 1.320% 65,956.67 2,103,716.67 904
10/28/2011 CN METLIFE GLOBAL 2.00% DUE 1/10/14 NON-CALL 1,475,000.00 1.490,888.40 1.500% 49,011.60 1.539,900.00 1,078
12/27/2011 CN MASS MUTUAL GLOB 2.875% DUE 4/21/14 NON-CALI 2.500,000.00 2,583,739.37 1.400% 82,771.05 2,666,510.42 846
05/27/2011 CN WAL-MART 3.20% DUE 5/15/14 NON-CALL 2.500.000.00 2,645,275.00 1.200% 92,058.33 2,737,333.33 1,084
05/29/2009 CN WAL-MART 3.20% DUE 5/15/14 NON-CALL 1.000.000.00 1,003.190.00 3.130% 155,565.56 1,158,755.56 1.812
05/20/2010 CN MICROSOFT 2.95% DUE 6/1/14 NON-CALL 2,000,000.00 2,072.820.00 2.005% 164,982.78 2,237,802.78 1.473
10/07/2011 CN METLIFE GLOBAL 5.125% DUE 6/10/14 NON-CALL 1,500,000.00 1.625,547.72 1.900% 80.092.90 1.705.640.62 977
12/23/2011 CN GENERAL ELECTRIC .696% DUE 9/15/14 FLOATING 2,000,000.00 1,914.520.00 2.250% 123.464.31 2,037,984.31 997
10/05/2011 CN PROVEDENCE HEALTH 5.05%DUE 10/01/14 CALL <g 2,000,000.00 2.237.929.50 1.000% 63.948.28 2,301,877.78 1.092
01/17/2012 CN NEW YORK LIFE 1.30% DUE 1/12/15 NON-CALL 5,000,000.00 5,021,951.16 1.150% 172,146.06 5,194,097.22 1.091
09/16/2011 CN BERKSHIRE HATHAWAY 3.20% DUE 2/11/15 NON-C 3,000,000.00 3,175,710.00 1.430% 150,956.67 3,326,666.67 1.244
10/04/2011 CN MERCK & CO 4.0% DUE 6/30/15 NON-CALL 5,000,000.00 5,498,750.00 1.260% 249,027.78 5,747,777.78 1.365
02/09/2011 CN MET LIFE GLOBAL FUNDING 2.5% DUE 9/29/15 NON 1,000,000.00 978.478.42 3.000% 137,493.80 1,115,972.22 1.693
05/06/2011 CN MET LIFE GLOBAL FUNDING 2.5% DUE 9/29/15 NON 1,000,000.00 993,799.11 2.650% 116,131.45 1,109,930.56 1.607
10/06/2011 CN WAL-MART 1.50% DUE 10/25/15 NON-CALL 3,000,000.00 3.049,826.34 1.080% 132,548.66 3,182,375.00 1,480
INVESTMENT REPORT
AS OF JANUARY 31,2012
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
12/15/2010 CN BARCLAYS BANK 3.10% DUE 12/15/15 NON-CALL 2,000.000.00 2,000,000.00 3.100% 310,000.00 2.310.000.00 1,826
12/15/2010 CN ROYAL BANK OF CANADA 2.625% DUE 12/15/15 N( 2,000,000.00 2,038,220.00 2.220% 225,009.16 2,263,229.16 1,826
10/31/2011 CN MET LIFE GLOBAL FUNDING 3.125% DUE 1/11/16 N( 1,635,000.00 1,695,247.73 2.200% 15,611.98 1,710.859.71 1,533
12/28/2011 CN MET LIFE GLOBAL FUNDING 3.125% DUE 1/11/16 N( 2,000,000.00 2,063,239.83 2.300% 189,017.11 2,252,256.94 1,475
01/25/2012 CN MET LIFE GLOBAL FUNDING 3.125% DUE 1/11/16 N( 5.000,000.00 5,189,924.57 2.120% 428,999.04 5,618,923.61 1,447
05/06/2011 CN MASS MUTUAL GLOBAL DUE 4/14/16 3.125% NON-C 1,000,000.00 1,024,175.57 3.125% 130,164.71 1,154,340.28 1,805
05/16/2011 CN GENERAL ELECTRIC 2.95% DUE 5/9/16 NON-CALL 2,000,000.00 2,000,912.32 2.940% 292,940.46 2,293,852.78 1,820
06/17/2011 CN GENERAL ELECTRIC 2.95% DUE 5/9/16 NON-CALL 2,000.000.00 2,009,952.38 2.840% 278,819.84 2,288,772.22 1,788
09/12/2011 CN GENERAL ELECTRIC 2.95% DUE 5/9/16 NON-CALL 1,400,000.00 1.427.513.33 2.500% 164,875.84 1,592,389.17 1,701
10/27/2011 CN PROCTER & GAMBLE 1.45% DUE 8/15/16 NON-CALL 5,000,000.00 5,011,536.25 1.400% 336,463.75 5,348,000.00 1,754
10/11/2011 CN BERKSHIRE HATHAWAY 2.20% DUE 8/15/16 NON-C/ 5,000,000.00 5,022,855.25 2.100% 510.033.64 5,532,888.89 1,770
09/22/2011 CN TOYOTA 2.0% DUE 9/15/16 NON-CALL 5,000,000.00 5,023,645.00 1.900% 474,410.56 5,498,055.56 1,820
11/10/2011 CN NEW YORK LIFE 2.45% DUE 7/14/16 NON-CALL 3,550,000.00 3,669,194.08 1.700% 287,655.64 3,956.849.72 1,708
01/31/2012 CN BERSHIRE HATHAWAY 1.90% DUE 1/31/17 NON-CA 5.000,000.00 5.047,739.83 1.700% 427.260.17 5,475,000.00 1,827
01/31/2012 CN HSBC BANK USE 2.5% DUE 1/31/17 FLOATING RATE 5.000,000.00 5,000,000.00 1.748% 425.000.00 5,425,000.00 1,827
SUB-TOTAL 128,091.000.00 131,562,248.65 2.499% 14.163.863.01 145,726,111.66 1.527
09/16/2011 CD SAFRA NATIONAL BANK .80% DUE 9/16/13 248,000.00 248,000.00 0.800% 3,973.43 251,973.43 731
09/16/2011 CD MERRICK BANK .70% DUE 9/16/13 249.000.00 249,000.00 0.700% 3,490.83 252.490.83 731
09/30/2011 CD COMPASS BANK 1.0% DUE 9/30/13 248,000.00 248,000.00 1.000% 4,966.80 252.966.80 731
10/07/2011 CD DORAL ANK 1.0% DUE 10/7/13 248.000.00 248,000.00 1.000% 4,966.80 252.966.80 731
10/18/2011 CD MEDALLION BANK .75% DUE 10/18/13 249,000.00 249,000.00 0.750% 3.740.11 252,740.11 731
08/17/2011 CD AMERICAN EXPRES CENTURION BANK 1.20% 248,000.00 248,000.00 1.200% 8,887.23 256.887.23 1.090
08/17/2011 CD CIT BANK 1.10% DUE 8/18/14 248,000.00 248,000.00 1.100% 8,198.94 256,198.94 1,097
08/17/2011 CD DISCOVER BANK 1.15% DUE 8/18/14 248.000.00 248,000.00 1.150% 8,571.62 256,571.62 1.097
08/17/2011 CD ALLY BANK 1.15% DUE 8/18/14 248.000.00 248,000.00 1.150% 8,579.43 256.579.43 1,097
08/17/2011 CD GE MONEY BANK 1.15% DUE 8/19/14 248.000.00 248,000.00 1.150% 8,563.81 256.563.81 1,098
08/19/2011 CD GE CAPITAL FINANCIAL INC 1.15% DUE 8/19/14 248,000.00 248,000.00 1.150% 8,563.81 256.563.81 1,096
08/24/2011 CD GOLDMAN SACHS BANK 1.15% DUE 8/25/14 248.000.00 248,000.00 1.150% 8,571.62 256.571.62 1,097
09/21/2011 CD TRANSPORTATION ALLIANCE BANK INC .75% DUE < 249.000.00 249,000.00 0.750% 5,612.71 254.612.71 1,097
09/23/2011 CD STATE BANK OF INDIA 1.30% DUE 9/23/14 248,000.00 248,000.00 1.300% 9,680.83 257,680.83 1,096
09/23/2011 CD BMW BANK OF NORTH AMERICA 1.35% DUE 9/23/14 248,000.00 248,000.00 1.350% 10,053.17 258,053.17 1,096
01/11/2012 CD SALLIE MAE BANK 1.35% DUE 12/22/14 248,000.00 248,000.00 1.350% 9,869.73 257,869.73 1,076
INVESTMENT REPORT
AS OF JANUARY 31,2012
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
01/11/2012 CD BARCLAYS BANK DELAWARE 1.25% DUE 1/11/15 248.000.00 248,000.00 1.250% 9,308.49 257,308.49 1,096
01/23/2012 CD LCA BANK CORPORATION .85% DUE 7/23/15 248.000.00 248,000.00 0.850% 7,375.11 255.375.11 1,277
09/15/2011 CD BANK OF THE WEST 1.4% DUE 9/14/15 249.000.00 249,000.00 1.400% 13,943.96 262.943.96 1,460
12/02/2011 CD MIDLAND STATES BANK 1.25% DUE 12/02/15 249.000.00 249,000.00 1.250% 12,450.00 261,450.00 1,461
01/25/2012 CD NATIONAL REPUBLIC BANK 1.0% DUE 1/25/16 249.000.00 249,000.00 1.000% 9,966.87 258,966.87 1,461
SUB-TOTAL 5,214.000.00 5,214,000.00 0.986% 169,335.30 5,383,335.30 1,090
0 WELLS FARGO BANK 541.948.00 541,948.00 0.200% 2.97 541,950.97
0 CORPORATE CASH MANAGEMENT ACCOUNT 7,239,422.33 7,239,422.33 0.200% 39.67 7,239,462.00 1
0 LIBRARY ACCOUNT 987.69 987.69 0.000% -987.69 1
O UNION TRUST 210.24 210.24 0.000% -210.24 1
O LAIF WATER DISTRICT 41,533,213.78 41,533,213.78 0.380% 438.41 41.533,652.19 1
O LAIF PUBLIC IMPROVEMENT CORPORATION 17,816,421.22 17,816,421.22 0.380% 188.06 17,816,609.28 1
0 LAIF PUBLIC FINANCING CORPORATION 48,978.000.00 48.978,000.00 0.380% 516.99 48,978,516.99 1
0 LAIF CITY OF CARLSBAD 40.473.729.21 40,473,729.21 0.380% 427.22 40,474,156.43 1
SUB-TOTAL 156.583,932.47 156,583,932.47 0.371% 1.613.32 156,585,545.79
GRAND TOTAL 607,083,932.47 613,908,476.93 1.568% 40,294,806.03 654,203,282.96
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF JANUARY 31, 2012
EXHIBIT 8
Cash Balance by Fund:
General
Special Revenue
Debt Service
Capital Projects:
General Capital Construction
Traffic Impact Fees
Public Facilities Fees
Park Development
Transnet Taxes
Drainage Fees
Special Districts
Infrastructure Replacement
Redevelopment
Other Capital Construction
Enterprise:
Carisbad Municipal Water District
Sewer Fund
Solid Waste
Storm Water
Golf Course
Total
Total
Internal Service
Agency Funds
Misc. Special Funds
Total General Ledger Balance
Reconciling Adjustments (1)
Total Treasurer's Investment Portfolio at Amortized Cost
54,594,236
18,925,472
47,729,571
3,716,595
7,011,126
5,701,731
78,401,354
69,157,869
7,142,715
2,697,854
80,666,348
51,477,350
7,258,243
2,787,537
355,831
74,117,094
54,417,149
0
295,078,522
142,545,309
31,356,936
14,521,659
0
612,036,670
(1,725,001)
610,311,669
(1) The Reconciling Adjustments consist of differences between the General Ledger which is prepared
on an accrual basis and the Treasurer's report which js 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 2/07+A21/12
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of January 31, 2012
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
BERKSHIRE HATHAWAY AA2 AA+
GENERAL ELECTRIC AA2 AA+
HSBC BANK USA AAS AA-
JOHNSON & JOHNSON AAA AAA
MASS MUTUAL GLOBAL AA2 AA+
MERCK AAS AA
MET LIFE GLOBAL AAS AA-
MET LIFE OF CONNECTICUT AAS AA-
MICROSOFT AAA AAA
NEW YORK LIFE AAA AA+
PROCTER & GAMBLE AAS AA-
PROVIDENCE HEALTH AA2 AA
ROYAL BANK OF CANADA AA1 AA-
3M AA2 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 Maturitv Date Value Value
ALL STATE LIFE A1 A+ 04/S0/201S 2,005,976 2,112,820
BARCLAYS BANK AAS A+ 12/15/2015 3,575,529 3,496.358
PRINCIPAL LIFE AAS A+ 04/16/2012 1,000,000 1,001,340
PROTECTIVE LIFE A2 AA- 07/15/2012 3,000,000 S,018,570
WELLS FARGO A2 A+ 10/23/2012 1,006,587 1,032,620
* 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 ail 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 JANUARY 31, 2012
WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS
PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER
Investment Cost Percent of Portfolio*
ALL STATE LIFE 2,023,559.81 0.33%
BARCLAYS BANK 3,590,861.34 0.58%
BERKSHIRE HATHAWAY 17,332,044.71 2.82%
GENERAL ELECTRIC CAP 29,120,311.22 4.74%
HSBC BANK USA 5,000,000.00 0.81%
JOHNSON & JOHNSON 1,017,457.28 0.17%
MASS MUTUAL 3,607,914.95 0.59%
MERCK & CO 5,498,750.00 0.90%
MET LIFE GLOBAL FUND 17,059,760.30 2.78%
MET LIFE OF CONNECTICUT 2,121,360.00 0.35%
MICROSOFT 2,072,820.00 0.34%
NEW YORK LIFE 11,847,794.90 1.93%
PRINCIPAL LIFE 1,000,000.00 0.16%
PROTECTIVE LIFE 3,000,000.00 0.49%
PROTER & GAMBLE 5,011,536.25 0.82%
PROVIDENCE HEALTH 2,237,929.50 0.36%
ROYAL BANK OF CANADA 4,086,150.00 0.67%
3M 2,121,417.76 0.35%
TOYOTA 5,023,645.00 0.82%
WAL-MART 7,746,121.25 1.26%
WELLS FARGO 1,042,814.41 0.17%
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
Investment Cost Percent of Portfoli<
FAMCA 3,015,908.69 0.49%
FICO 9,265,228.88 1.51%
FEDERAL FARM CREDIT BANK 63,667,726.47 10.37%
FEDERAL HOME LOAN BANK 93,954,632.08 15.30%
FEDERAL HOME LOAN MORTGAGE CORP 34,742,900.45 5.66%
FEDERAL NATIONAL MORTGAGE ASSOC 104,209,895.86 16.97%
TVA 9,629,894.12 1.57%
U.S.TREASURY 2,062,109.25 0.34%
Total Portfolio
* No more than 5% may be invested with a single corporate issuer.
**There are no percentage limits on federal agency issuers.
$613,908,476.93
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