HomeMy WebLinkAbout2012-05-22; City Council; 20906; Report on City Investments April 30, 20128
CITY OF CARLSBAD - AGENDA BILL
AB# 20.906 REPORT ON CITY INVESTMENTS DEPT. HEAD
MTG. 5/22/12 AS OF APRIL 30. 2012 CITY ATTY.
DEPT. TRS CITY MGR.
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 April 30, 2012 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 607,469,853 598,343,545
Cost of Investments 615,673,079 605,416,793
Amortized Cost (1) 612,026,774 601,904,487
Market Value (2) 616,521,498 606,044,656
(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 4/30/12.
The equity portion of the various funds in the total portfolio is summarized in the graph on the next
page. Fund balances are restricted for various purposes. See Exhibit 8 for a more detailed
breakdown.
The $10 million increase between the March and April reports is due mainly to the receipt of
property tax totaling $11.4 million during April.
COUNCIL ACTION:
FOR C/7Y CLERKS USE ONLY.
APPROVED O CONTINUED TO DATE SPECIFIC • _
DENIED • CONTINUED TO DATE UNKNOWN •
CONTINUED • RETURNED TO STAFF •
WITHDRAWN • OTHER - SEE MINUTES K»
AMENDED • Council received the report.
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan@carlsbadca.gov
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF APRIL 30. 2012
FUND EQUITY IN POOLED INVESTMENTS
(DoUar Amounts in Millions)
General Special Revenue
$79 $ 52
Internal Service /"Hfek •* i w • * $32 ibik. Capital Projects
Agency/Other ^^''^M $ 293
Enterprise $144
Total Treasurer's Investment Portfolio at Amortized Cost
April 30,2012 $612 million
Pooled Investment Interest Income
Current
Month FYTD
Prior
Month FYTD
Current Month
Income
Cash Income Fiscal
Year-to-Date * 10,664,375 9,347,197 1,317,178
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life
(Years)
Average Yield
To Maturity Modified Duration
February 2012 2.26 1.60% 2.171
March 2012 2.19 1.58% 2.107
April 2012 2.12 1.50% 2.033
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.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield
Investment Portfolio Breakdown Of Maturities
Yield Comparison Graph
Market Yield Curve
Cumulative Cash Income Graph
Fourth Quarter Transactions
Detailed Investment Report
Fund Equity in Pooled Investments
Corporate Note and Commercial Paper Ratings
Percentage Weightings By Corporate Note Issuer
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF APRIL 30, 2012
BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS
AMORTIZED COST MARKET VALUE AVERAGE YIELD
Cash Income
Class Current Month Prior Month Current Month Prior Month Year to Date Current Month Prior Month
CD 6,705.401 5.710.391 6.737.587 5,733,558 23,930 0.98 0.99
FN 21,041,844 21,012.649 21,143.185 21,105.441 0 1.58 1.58
CP 0 0 0 0 0 0.00 0.00
TR 2,017,619 2,018.672 2.078,980 2.082.030 142,500 2.44 2.44
FA 291,279.235 303,013,107 294.179.835 305,667,244 6,986,824 1.76 1.80
CN 155.017.822 146,916,122 156.417.059 148,222.838 3,064,401 2.02 2.16
LAIF 132.806.075 118.026.000 132.806.075 118.026.000 445,724 0.37 0.39
CUSTODY 12.805 111.597 12.805 111.597 16 0.00 0.00
SWEEP 2.711,597 4.583,733 2,711,597 4.583.733 981 0.02 0.02
BANK ACCT 434,376 512,215 434.376 512,215 0 0.02 0.02
TOTALS $612,026,774 $601,904,487 $616,521,498 $606,044,656 10.664,375 1.50% 1.58%
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 APRIL 30, 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
0
6,355,494
0
0
65,990,150
13,423,475
132,806,075
12,805
2,711,597
434,376
$221,733,971 (1)
36.0%
7 MONTHS TO 1 YEAR
0
0
0
0
13,423,845
4,169,290
0
0
0
0_
$17,593,135 (1)
2.9%
$239,327,106 (1)
38.9%
1 TO 5 YEARS
6,705,380
13,862,925
0
2,062,109
215,121,264
138,594,296
0
0
0
0_
$376,345,973
61.1%
TOTAL
6,705,380
20,218,418
0
2,062,109
294,535,258
156,187,061
132,806,075
12,805
2,711,597
434,376
$615,673,079
100.0%
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.
% TOTAL
1.1%
3.3%
0.0%
0.3%
47.8%
25.4% (2)
21.6%
0.0%
0.4%
0.1%
100.0%
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0.75 0.50
0.25
YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1998-APRIL 2012
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 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 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 M M I M M IIIIIII IMI H X ffl
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MARKET YIELD CURVE
6/30/10,6/30/11,4/30/12
Market Rates
10 Yr
3 Mth 2Yr SYr 10 Yr
-•-06/30/2010 .17 .60 1.77 2.93
06/30/2011 .01 .46 1.76 3.16
« 04/30/2012 .09 .26 0.81 1.91
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Cumulative Cash Income
Cumulative
Millions $
FYll-12
(April 2012)
Monthly Interest Income
Millions $
14
12
10
8
4
2
1.238 ,
11.078 -^1.143 ^i.^^ju89a 1-145 0.835 0.97 Ojsjr^
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Interest Income --^-Budget -»-Actual
8
7
6
5
4
3
2
1
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City of Carlsbad
TRANSACTIONS FOR PERIOD:
04/01/12 TO 04/30/12 04/30/12 4TH QUARTER 2011-2012
Trans
Date
BUYS
APRIL
03/30/2012
04/02/2012
04/10/2012
04/10/2012
04/11/2012
04/11/2012
04/12/2012
04/18/2012
04/17/2012
04/25/2012
04/25/2012
04/26/2012
04/25/2012
MATURITIES
APRIL
CALLS
APRIL
Investment Maturity Call Par Amount Return Investment
Date Date Tvpe Securitv Date Value Coupon (Cost) Rate interest Return
04/04/2012 04/04/2014 CN MET LIFE INSTITUTIONAL N/A 2,000,000.00 1.48% FLOAT 2,014,740.00 0.950% 44.500.00 2,059,240.00
04/05/2012 10/01/2014 CN BERKSHIRE HATAWAY N/A 2,000,000.00 5.500% 2,236,460.00 0.700% 37.317.78 2,273,777.78
04/13/2012 12/15/2015 CN PROCTER & GAMBLE N/A 1,000.000.00 4.850% 1,147,830.00 0.760% 30,272.78 1,178,102.78
04/11/2012 01/30/2017 CN FNMA 01/30/2013 4,000,000.00 0.75% STEP 3,998,000.00 1.528% 296.083.33 4,294,083.33
04/16/2012 05/20/2014 CD CAPAHA BANK N/A 249,000.00 1.100% 249,000.00 1.100% 5,503.55 254,503.55
04/16/2012 06/17/2014 CD BANK OF GEORGETOWN N/A 249,000.00 1.000% 249,000.00 1.000% 5,402.96 254,402.96
04/17/2012 09/01/2015 CN PROCTER & GAMBLE N/A 3,000,000.00 3.150% 3,242,427.56 0.720% 76,247.44 3.318.675.00
04/23/2012 04/05/2017 CN WAL-MART STORES N/A 3,000,000.00 5.375% 3.568,354.19 1.400% 229.833.31 3,798,187.50
04/20/2012 11/28/2014 CD PLUS INTERNATIONAL N/A 249,000.00 0.850% 249,000.00 0.850% 6.520.35 255,520.35
04/26/2012 03/08/2017 FA FNMA 03/08/2013 4,000,000.00 1.200% 4,000,000.00 1.200% 233.600.00 4.233.600.00
04/26/2012 04/25/2017 FA FFCB 04/25/2013 3,000,000.00 1.200% 2,998,200.00 1.212% 181.700.00 3.179,900.00
04/27/2012 04/18/2016 FA FFCB 07/18/2012 2,400,000.00 0.950% 2,400,000.00 0.950% 90,630.00 2,490,630.00
04/30/2012 11/18/2014 CD STERLING SAVINGS BANK N/A 248,000.00 0.750% 248,000.00 0.750% 4,749.36 252,749.36
QUARTER 2011-2012 25,395,000.00 26,601,011.75 0.884% 1,242,360.86 27,843.372.61
05/21/2007 04/12/2012 FA FFCB 2,000,000.00 4.875% 1,987.880.00 5.015% 489,057.50 2,476,937.50
04/21/2009 04/15/2012 CN BERKSHIRE HATAWAY N/A 1,000,000.00 4.000% 1,022,563.95 3.200% 96,769.38 1,119,333.33
04/23/2009 04/15/2012 CN BERKSHIRE HATAWAY N/A 2,000,000.00 4.000% 2,039,340.00 3.300% 198.882.22 2,238.222.22
04/30/2008 04/16/2012 CN PRINCIPAL LIFE INC N/A 1,000,000.00 4.500% 1,000,000.00 4.500% 178,375.00 1.178.375.00
QUARTER 2011-2012 6,000.000.00 6.049,783.95 4.045% 963,084.10 7,012,868.05
07/20/2011 04/13/2015 FA FNMA 04/13/2012 2,000,000.00 2.000% 2,019,620.00 1.730% 129,602.22 2.149,222.22
04/18/2011 04/18/2016 FA FHLB 04/18/2012 2.000,000.00 2.700% 2.000.000.00 2.700% 270,000.00 2,270,000.00
10/19/2011 10/19/2016 FA FHLMC 04/19/2012 5.000.000.00 0.500% 5,000,000.00 2.585% 659,375.00 5,659,375.00
05/10/2011 04/20/2015 FA FHLB 04/20/2012 2,000,000.00 2.000% 2,011,380.00 1.850% 146,397.78 2,157,777.78
10/03/2011 10/03/2016 FA FFCB 04/24/2012 5,000.000.00 1.480% 5,000,000.00 1.480% 370,000.00 5,370,000.00
04/25/2011 04/25/2016 FA FNMA 04/25/2012 2,000,000.00 2.650% 1,999,000.00 2.661% 266,000.00 2,265,000.00
10/27/2011 10/27/2016 FA FHLB 04/27/2012 5,000,000.00 0.5% STEP 4,996,250.00 1.870% 472,500.00 5,468,750.00
QUARTER 2011-2012 23,000,000.00 23,026,250.00 1.662% 2,313,875.00 25,340,125.00
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INVESTMENT REPORT
AS OF APRIL 30, 2012
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
07/25/2007 FA TVA 6.790% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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 % 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% CALL 10/14/08 3,000,000.00 3.000.000.00 4.250% 637,500.00 3,637,500.00 1,827
10/20/2009 FA FFCB 5.15% NON-CALL 1,000,000.00 1,102,490.00 1.926% 67,316.94 1,169.806.94 1,206
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INVESTMENT REPORT
AS OF APRIL 30,2012
INVESTMENT
DATE TYPE SECURITY
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
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
08/19/2009 FA FFCB 2.7% NON-CALL
11/12/2008 FA FHLB 4.0% NON-CALL
12/17/2008 FA FHLB 4.375% NON-CALL
03/24/2010 FA FHLMC 4.125% NON-CALL
02/23/2010 FA FFCB 3.875% NON-CALL
10/19/2011 FA FNMA 1.125% NON-CALL
04/15/2010 FA FHLB 2.00% NON-CALL
10/19/2009 FA FFCB 5.350% NON-CALL
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
03/24/2010 FA FHLB 2.5% NON-CALL
10/20/2009 FA FFCB 4.375% NON-CALL
08/01/2011 FA FFCB 1.0% CALL 8/1/12 CONT
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
11 /07/2011 FA FNMA .80% CALL 10/24/12
06/29/2011 FA FHLMC 1.25% CALL 6/29/12
01/23/2012 FA FHLB .52% NON-CALL
06/04/2010 FA FNMA 2.00% CALL 10/29/12 STEP
02/23/2012 FA FHLB .55% NON-CALL
02/28/2011 FA FHLB 2.0% CALL 5/29/12 CONT
06/29/2011 FA FFCB 1.6% CALL CONT
07/27/2011 FA FFCB 1.550% CALL 7/2712 CONT
PAR
VALUE
1,065,000.00
3,000.000.00
500,000.00
500,000.00
1,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
1.000.000.00
1,000,000.00
2,000,000.00
3,000.000.00
1,000,000.00
5.000.000.00
2,000,000.00
2,000,000.00
2,000,000.00
1,000,000.00
2,000,000.00
3,000,000.00
3,000,000.00
5,000,000.00
3,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
2,000,000.00
5,000,000.00
2,000,000.00
5,000,000.00
2,235,000.00
2,000,000.00
3,500.000.00
INVESTED
AMOUNT
1,133.986.44
2.963.940.00
536.967.86
532.794.50
1.065.788.37
2,130,988.03
1,993.760.00
1,987,226.45
2,035,600.00
1,005,669.88
1.007,890.00
2,154,940.00
3,222,330.00
1,065,180.00
5,061,150.00
2,000,000.00
2,235,072.36
2,047,941.08
1,028.536.49
2.000,000.00
3,016,423.52
3,234,480.00
5,000,000.00
3,395,255.41
2,000,000.00
2,231,960.00
2,047,400.80
3,000,937.50
2,000,000.00
5,000,000.00
2,018,771.34
5,000,000.00
2,235,000.00
2,000,000.00
3,500,000.00
RETURN
RATE
0.600%
3.765%
2.100%
2.120%
3.800%
2.450%
1.479%
2.040%
3.970%
2.550%
3.818%
2.625%
1.930%
2.000%
0.500%
2.000%
2.264%
2.600%
2.250%
1.300%
2.363%
2.595%
1.000%
2.323%
1.500%
2.490%
2.440%
0.789%
1.250%
0.520%
2.780%
0.550%
2.000%
1.600%
1.550%
INTEREST
15,503.56
560,476.67
39,296.03
40.094.39
181,163.02
195,081.41
91.031.67
142,273.55
392.177.78
102.330.12
184,776.67
259,712.78
211,826.25
75,181.11
49,631.25
140,000.00
193.522.08
258,135.31
91.463.51
91.000.00
300,034.82
381,665.83
150,000.00
328.452.92
120,000.00
237,040.00
222,265.87
70,195.83
87,500.00
78,000.00
277,339.77
88,763.89
190,099.17
128,000.00
217,000.00
INVESTMENT
RETURN
1,149,490.00
3,524,416.67
576,263.89
572,888.89
1,246,951.39
2,326.069.44
2.084.791.67
2.129,500.00
2,427.777.78
1,108,000.00
1,192,666.67
2,414,652.78
3,434,156.25
1,140,361.11
5,110,781.25
2.140.000.00
2,428,594.44
2,306,076.39
1,120.000.00
2,091,000.00
3,316,458.34
3,616,145.83
5,150,000.00
3,723,708.33
2,120,000.00
2,469.000.00
2,269,666.67
3,071,133.33
2,087,500.00
5.078,000.00
2,296,111.11
5,088.763.89
2.425.099.17
2,128,000.00
3,717,000.00
TERM
(Davs)
854
1,824
1,310
1,331
1,677
1,401
1,127
1,278
1,785
1,461
1,759
1,731
1,283
1,322
720
1,279
1,463
1,788
1,461
1,277
1,542
1,714
1,096
1,603
1,461
1,633
1,643
1,082
1,279
1,096
1,790
1,177
1,551
1,461
1,461
INVESTMENT REPORT
AS OF APRIL 30,2012
INVESTMENT
DATE TYPE SECURITY
03/30/2011 FA FHLB 2.0% NON-CALL
04/04/2011 FA FHLB 2.0% NON-CALL
09/14/2010 FA FHLB 1.74% CALL 9/14/12
09/21/2010 FA FNMA 2.0% CALL 3/21/11
10/28/2010 FA FNMA 1.50% CALL 4/28/11
11/23/2010 FA FFCB 2.0% CALL 5/23/12 CONT
08/10/2011 FA FNMA 2.0% CALL 5/23/12
03/01 /2012 FA FNMA .50% QRTLY CALL STEP
02/22/2012 FA FFCB .85% CALL 2/22/13
02/24/2012 FA FHLMC .85% ONE CALL 2/24/14
04/27/2012 FA FFCB .95% CALL 7/18/12
04/27/2011 FA FHLB 2.5% NON-CALL
05/03/2011 FA FAMCA 2.55% CALL
06/29/2011 FA FHLMC 2.10% CALL
06/29/2011 FA FNMA 1.50% CALL STEP
08/15/2011 FA FFCB 1.75% CALL 8/15/12 CONT
08/22/2011 FA FFCB 1.5% CALL 8/22/12 CONT
08/29/2011 FA FHLB 1.0% CALL 8/24/12 QRTLY STEP
09/09/2011 FA FHLB .625% CALL 3/9/12 QRTLY STEP
09/29/2011 FA FNMA 1.25% CALL 3/28/12 STEP
10/06/2011 FA FFCB 1.30% NON-CALL
10/11/2011 FA FFCB 1.370% CALL 10/11/12 CONT
10/12/2011 FA FNMA 1.25% CALL 4/12/12 QRTLY
10/24/2011 FA FN MA 1.70% CALL 10/24/12 QRTLY
10/26/2011 FA FNMA 1.125% CALL 10/26/12 QRTLY STEP
11/16/2011 FA FNMA 1.80% QRTLY CALLS
11/16/2011 FA FNMA 1.35% QRTLY CALLS
11/23/2011 FA FNMA 1.25% STEP QRTLY CALLS
01/25/2012 FA FNMA 1.65% QRTLY CALLS
01/30/2012 FA FNMA 1.30% QRTLY CALL 1/30/13
04/11/2012 FA FNMA .75% ANNUAL CALL STEP
02/06/2012 FA FNMA .75% QRTLY CALL 2/6/13 STEP
02/21/2012 FA FNMA 1.10% QRTLY CALL
03/08/2012 FA FNMA 1.375% QRTLY CALL
04/26/2012 FA FNMA 1.2% QRTLY CALL
PAR
VALUE
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
5,000,000.00
3.000,000.00
5,000,000.00
3.000.000.00
2,400,000.00
2,000,000.00
2,000,000.00
2,000,000.00
4,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
5,000,000.00
5.000,000.00
5,000,000.00
5,000.000.00
4.000.000.00
5,000.000.00
5.000.000.00
5,000,000.00
5,000,000.00
5,000.000.00
5,000,000.00
5,000,000.00
4,000,000.00
5,000,000.00
5,000,000.00
5,000.000.00
4.000.000.00
INVESTED
AMOUNT
1.999.000.00
2,000,000.00
2,000,000.00
2,000,000.00
1,999,000.00
2,000,000.00
5,039,000.00
2,999,700.00
5,000,000.00
2,995,500.00
2,400,000.00
2.000,000.00
2,000,000.00
2,000,000.00
4,000,000.00
2,000.000.00
2,000,000.00
3,000,000.00
4,990,000.00
5,000,000.00
5,000,000.00
5,000,000.00
3,990,400.00
5,000.000.00
5,000,000.00
5,000,000.00
4.962,500.00
5,000,000.00
5,030,800.00
5,000,000.00
3,998.000.00
5,000,000.00
4,985,000.00
5,000,000.00
4,000,000.00
RETURN
RATE
2.012%
2.000%
1.740%
2.000%
1.510%
2.000%
1.809%
1.317%
0.850%
0.890%
0.950%
2.500%
2.550%
2.100%
2.250%
1.750%
1.500%
1.735%
1.988%
1.445%
1.300%
1.370%
1.250%
1.700%
1.810%
1.800%
1.506%
1.688%
1.519%
1.300%
1.528%
1.682%
1.162%
1.375%
1.200%
INTEREST
174,333.33
176,000.00
174,000.00
200,000.00
151,000.00
200.000.00
389,611.11
156,841.67
170,000.00
106,500.00
90,630.00
250,000.00
254,858.33
210,000.00
450,000.00
175,000.00
150,000.00
262,083.33
503,750.00
362,326.39
325,000.00
342,500.00
259.600.00
425,000.00
462,500.00
450,000.00
375,000.00
425,000.00
372,304.17
325.000.00
296.083.33
425,000.00
290,000.00
343,750.00
233,600.00
INVESTMENT
RETURN
2,173.333.33
2,176.000.00
2,174.000.00
2.200.000.00
2,150,000.00
2,200,000.00
5,428,611.11
3.156,541.67
5,170,000.00
3,102,000.00
2,490,630.00
2,250,000.00
2,254,858.33
2,210.000.00
4.450.000.00
2.175.000.00
2.150.000.00
3.262,083.33
5,493,750.00
5,362,326.39
5,325,000.00
5,342,500.00
4,250,000.00
5,425.000.00
5,462,500.00
5,450,000.00
5,337,500.00
5,425,000.00
5,403,104.17
5,325,000.00
4,294,083.33
5,425,000.00
5,275,000.00
5,343,750.00
4,233,600.00
TERM
(Days)
1,583
1,607
1,826
1,826
1,826
1,826
1,566
1,439
1,461
1,461
1,452
1,827
1,826
1,827
1,827
1,827
1.827
1,822
1.827
1.826
1.827
1.827
1.827
1.827
1.827
1.827
1.827
1,827
1,785
1,827
1,755
1.827
1.827
1,826
1,777
INVESTMENT REPORT
AS OF APRIL 30,2012
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
03/13/2012 FA FN MA 1.150% ON E CALL 3/13/14 3,950.000.00 3,942,100.00 1.191% 235,025.00 4,177,125.00 1,826
04/26/2012 FA FFCB 1.20% 4/25/13 CALL CONTINUOUS 3,000,000.00 2,998,200.00 1.200% 181.700.00 3,179,900.00 1,825
SUB-TOTAL 290.169.000.00 294,535,258.37 1.757% 21.988.203.62 316,523,461.99 -
02/18/2009 FN FICO STRIP 0.00% 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% 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% 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% 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% 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% NON-CALL 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% 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 FNMAO% 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% 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% 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 Total 311,545,000.00 314,753,676.56 23,460,765.80 338,214,442.36 1,173
11/10/2008 TR US TREASURY 3.125% 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% 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
08/31/2007 CN GENERAL ELECTRIC 6.00% 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% 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% 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% 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% NON-CALL 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% NON-CALL 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% NON-CALL 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% 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% NON-CALL 2,000,000.00 2,121,360.00 1.561% 58,165.00 2,179.525.00 657
INVESTMENT
DATE
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
10/28/2011
04/04/2012
12/27/2011
05/27/2011
05/29/2009
05/20/2010
10/07/2011
12/23/2011
10/05/2011
04/05/2012
01/17/2012
02/01/2012
09/16/2011
02/17/2012
10/04/2011
04/17/2012
02/09/2011
05/06/2011
10/06/2011
02/10/2012
12/15/2010
12/15/2010
04/13/2012
10/31/2011
TYPE
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
INVESTMENT REPORT
AS OF APRIL 30,2012
PAR INVESTED RETURN INVESTMENT TERM
SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
ROYAL BANK OF CANADA 2.25% NON-CALL 2,000,000.00 2,047,930.00 1.150% 51.695.00 2.099.625.00 808
MET LIFE GLOBAL FUNDING 5.125% NON-CALL 1.000,000.00 1,003,232.48 5.050% 251,024.46 1,254.256.94 1,812
MET LIFE GLOBAL FUNDING 5.125% NON-CALL 2,000,000.00 2,019,402.04 4.900% 485,410.46 2,504,812.50 1,799
WAL-MART 4.250% NON-CALL 1.000,000.00 1.047,829.91 2.950% 118,982.59 1,166,812.50 1,434
ALLSTATE LIFE 5.375% NON-CALL 2,000,000.00 2,023,559.81 5.100% 504,981.86 2.528,541.67 1,796
NEW YORK LIFE 4.650% NON-CALL 1.000.000.00 1.006,649.66 4500% 225,850.34 1,232,500.00 1,826
NEW YORK LIFE 4.650% NON-CALL 2,000,000.00 2,150,000.00 1.250% 23,766.67 2,173,766.67 818
BERKSHIRE HATHWWY 460% NON-CALL 1,000,000.00 1,023,835.68 4000% 177,542.10 1,201,377.78 1,604
3 M 4.375% NON-CALL 2,000,000.00 2,121,417.76 2.850% 251,186.41 2,372,60417 1.556
GENERAL ELECTRIC 2.10% NON-CALL 2.000.000.00 2.037.760.00 1.320% 65.956.67 2.103.716.67 904
METLIFE GLOBAL 2.00% NON-CALL 1.475.000.00 1,490,888.40 1.500% 49,011.60 1,539,900.00 1,078
METLIFE GLOBAL 1.481% NON-CALL FLOATING 2,000.000.00 2,014.740.00 0.950% 39.986.00 2,054.726.00 730
MASS MUTUAL GLOB 2.875% NON-CALL 2,500,000.00 2,583,739.37 1.400% 82,771.05 2,666,510.42 846
WAL-MART 3.20% NON-CALL 2,500,000.00 2,645,275.00 1.200% 92.058.33 2.737.333.33 1.084
WAL-MART 3.20% NON-CALL 1.000.000.00 1.003,190.00 3.130% 155,565.56 1,158.755.56 1.812
MICROSOFT 2.95% NON-CALL 2.000,000.00 2,072,820.00 2.005% 164,982.78 2,237,802.78 1,473
METLIFE GLOBAL 5.125% NON-CALL 1,500,000.00 1,625.547.72 1.900% 80.092.90 1,705.640.62 977
GENERAL ELECTRIC CAPITAL .696% FLOATING 2,000,000.00 1.914.520.00 2.250% 123.46431 2.037.984.31 997
PROVEDENCE HEALTH 5.05% CALL @ MAKEWHOLE 2,000,000.00 2,237,929.50 1.000% 63,948.28 2,301.877.78 1.092
BERKSHIRE HATHAWAY 5.50% NON-CALL 2.000.000.00 2.236,460.00 0.700% 37,317.78 2,273,777.78 909
NEW YORK LIFE 1.30% NON-CALL 5,000,000.00 5,021,951.16 1.150% 172,146.06 5,194,097.22 1,091
GENERAL ELECTRIC 1.375% FLOATER 5,000,000.00 5,000,000.00 1.375% 206.059.03 5.206.059.03 1.094
BERKSHIRE HATHAWAY 3.20% NON-CALL 3.000.000.00 3.175,710.00 1.430% 150,956.67 3,326,666.67 1,244
SHELL INTERNATIONAL FIN 3.1% NON-CALL 5,000,000.00 5,384.350.00 0.780% 137.052.78 5.521.402.78 1,227
MERCK & CO 4.0% NON-CALL 5,000,000.00 5,498,750.00 1.260% 249,027.78 5,747,777.78 1,365
PROCTERS GAMBLE 3.150% NON-CALL 3,000,000.00 3,242,427.56 0.720% 76,247.44 3,318.675.00 1,232
MET LIFE GLOBAL FUNDING 2.5% NON-CALL 1,000,000.00 978,478.42 3.000% 137,493.80 1,115,972.22 1,693
MET LIFE GLOBAL FUNDING 2.5% NON-CALL 1,000,000.00 993,799.11 2.650% 116.131.45 1,109,930.56 1,607
WAL-MART 1.50% NON-CALL 3.000.000.00 3,049,826.34 1.080% 132,548.66 3,182.375.00 1,480
PROCTERS. GAMBLE 1.80% NON-CALL 2,844,000.00 2,965,410.36 0.650% 71.270.64 3.036,681.00 1,374
BARCLAYS BANK 3.10% NON-CALL 2,000.000.00 2,000,000.00 3.100% 310,000.00 2,310,000.00 1,826
ROYAL BANK OF CANADA 2.625% NON-CALL 2,000,000.00 2,038,220.00 2.220% 225.009.16 2,263,229.16 1,826
PROCTER & GAMBLE 4.85% NON-CALL 1.000.000.00 1.147,830.00 0.760% 30,272.78 1,178,102.78 1,341
MET LIFE GLOBAL FUNDING 3.125% NON-CALL 1,635,000.00 1,695,247.73 2.200% 15,611.98 1,710,859.71 1,533
INVESTMENT
DATE
12/28/2011
01/25/2012
03/09/2012
02/08/2012
05/06/2011
05/16/2011
06/17/2011
09/12/2011
10/27/2011
10/11/2011
09/22/2011
11/10/2011
01/31/2012
01/31/2012
03/05/2012
02/16/2012
04/18/2012
TYPE
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
INVESTMENT REPORT
AS OF APRIL 30,2012
PAR INVESTED RETURN INVESTMENT TERM
SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
MET UFE GLOBAL FUNDING 3.125% NON-CALL 2,000,000.00 2,063,239.83 2.300% 189,017.11 2,252,256.94 1,475
MET LIFE GLOBAL FUNDING 3.125% NON-CALL 5,000,000.00 5,189,924.57 2.120% 428,999.04 5,618,923.61 1.447
MET LIFE GLOBAL FUNDING 3.125% NON-CALL 3.000.000.00 3,169.646.15 1.600% 190,249.68 3,359,895.83 1,403
GENERAL ELECTRIC 1.55% NON-CALL FLOATER 5,000,000.00 5,000,000.00 1.390% 227,500.00 5,227.500.00 1.461
MASS MUTUAL GLOB 3.125% NON-CALL 1,000,000.00 1,024,175.57 3.125% 130,164.71 1,154340.28 1,805
GENERAL ELECTRIC 2.95% NON-CALL 2,000,000.00 2,000.912.32 2.940% 292.940.46 2.293.852.78 1.820
GENERAL ELECTRIC 2.95% NON-CALL 2.000.000.00 2.009.952.38 2.840% 278.819.84 2.288.772.22 1.788
GENERAL ELECTRIC 2.95% NON-CALL 1,400.000.00 1.427.513.33 2.500% 164.875.84 1.592.389.17 1.701
PROCTERS GAMBLE 1.45% NON-CALL 5.000,000.00 5,011,536.25 1.400% 336,463.75 5.348,000.00 1,754
BERKSHIRE HATHAWAY 2.20% NON-CALL 5.000.000.00 5,022,855.25 2.100% 510.033.64 5,532.888.89 1.770
TOYOTA 2.0% NON-CALL 5,000,000.00 5,023,645.00 1.900% 474,410.56 5,498,055.56 1,820
NEW YORK LIFE 2.45% NON-CALL 3,550,000.00 3,669,194.08 1.700% 287,655.64 3,956,849.72 1,708
BERSHIRE HATHAWAY 1.90% NON-CALL 5,000,000.00 5,047,739.83 1.700% 427.260.17 5.475.000.00 1,827
HSBC BANK USA 2.5% FLOATING RATE 5,000,000.00 5,000,000.00 1.748% 425,000.00 5,425,000.00 1,827
BERSHIRE HATHAWAY 1.90% NON-CALL 2,850,000.00 2,914,809.00 1.418% 200,676.42 3,115,485.42 1.793
WESTPAC BANKING CORP 2.3% NON-CALL 5,000,000.00 5,000,000.00 2.300% 574,680.56 5,574,680.56 1,826
WAL-MART STORES 5.375% NON-CALL 3,000,000.00 3,568,354.19 1.400% 229,833.31 3,798,187.50 1,813
SUB-TOTAL 151,254,000.00 156,187,060.47 2.024% 13,036,168.00 169,223,228.47 1,512
09/16/2011 CD SAFRA NATIONAL BANK .80% 248,000.00 248,000.00 0,800% 3.973.43 251.973.43 731
09/16/2011 CD MERRICK BANK .70% 249,000.00 249,000.00 0.700% 3.490.83 252.490.83 731
09/30/2011 CD COMPASS BANK 1.0% 248,000.00 248,000.00 1.000% 4,966.80 252,966.80 731
10/07/2011 CD DORAL BANK 1.0% 248,000.00 248,000.00 1.000% 4,966.80 252,966.80 731
10/18/2011 CD MEDALLION BANK .75% 249,000.00 249,000.00 0.750% 3,740.11 252,740.11 731
04/16/2012 CD CAPAHA BANK 1.1% 249,000.00 249,000.00 1.100% 5,503.55 254,503.55 764
04/16/2012 CD BANK OF GEORGETOWN 1.0% 249,000.00 249.000.00 1.000% 5,402.96 254,402.96 792
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% 248,000.00 248,000.00 1.100% 8,198.94 256,198.94 1,097
08/17/2011 CD DISCOVER BANK 1.15% 248,000.00 248.000.00 1.150% 8,571.62 256,571.62 1,097
08/17/2011 CD ALLY BANK 1.15% 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% 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% 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% 248,000.00 248,000.00 1.150% 8.571.62 256,571.62 1,097
INVESTMENT REPORT
AS OF APRIL 30,2012
INVESTMENT
DATE TYPE SECURITY
09/21/2011 CD TRANSPORTATION ALLIANCE BANK INC .75%
09/23/2011 CD STATE BANK OF INDIA 1.30%
09/23/2011 CD BMW BANK OF NORTH AMERICA 1.35%
04/30/2012 CD STERLING SAVINGS BANK .75%
04/20/2012 CD PLUS INTERNATIONAL .85%
01/11/2012 CD SALLIE MAE BANK 1.35%
01/11/2012 CD BARCLAYS BANK DELAWARE 1.25%
01/23/2012 CD LCA BANK CORPORATION .85%
09/15/2011 CD BANK OF THE WEST 1.4%
12/02/2011 CD MIDLAND STATES BANK 1.25%
01/25/2012 CD NATIONAL REPUBLIC BANK 1.0%
02/10/2012 CD CARDINAL BANK MCLEAN VA .90%
02/28/2012 CD MERCANTILE BANK OF MICHIGAN .15%
PAR
VALUE
249,000.00
248,000.00
248,000.00
248,000.00
249,000.00
248,000.00
248,000.00
248,000.00
249,000.00
249,000.00
249,000.00
249,000.00
248,000.00
INVESTED
AMOUNT
249,000.00
248,000.00
248,000.00
248,000.00
249,000.00
248,000.00
248,000.00
248,000.00
249,000.00
249,000.00
249,000.00
249,000.00
247,380.00
RETURN
RATE
0.750%
1.300%
1.350%
0.750%
0.850%
1.350%
1.250%
0.850%
1.400%
1.250%
1.000%
0.900%
1.150%
INTEREST
5,612.71
9.680.83
10.053.17
4,749.36
5,520.35
9,869.73
9,308.49
7,375.11
13,943.96
12,450.00
9,966.87
8.970.06
14895.62
INVESTMENT
RETURN
254.612.71
257,680.83
258,053.17
252,749.36
254,520.35
257.869.73
257.308.49
255.375.11
262,943.96
261,450.00
258,966.87
257,970.06
262,275.62
SUB-TOTAL 6,706,000.00 6.705.380.00 0.981% 214,377.20 6,919,757.20
o WELLS FARGO BANK 433,695.00 433.695.00 0.020% 0.24 433,695.24
0 CORPORATE CASH MANAGEMENT ACCOUNT 2,711,596.83 2.711,596.83 0.020% 1.49 2,711,598.32
o LIBRARY ACCOUNT 681.30 681.30 0.000% -681.30
o UNION TRUST 12,804.90 12,804.90 0.000% 0.00 12,804.90
0 LAIF WATER DISTRICT 37,357,512.24 37,357,512.24 0.370% 383.95 37,357.896.19
o LAIF PUBLIC IMPROVEMENT CORPORATION 31,926,505.97 31,926,505.97 0.370% 328.13 31.926,834.10
o LAIF PUBLIC FINANCING CORPORATION 24,119,199.08 24,119,199.08 0.370% 247.89 24,119,446.97
0 LAIF CITY OF CARLSBAD 39,402,857.50 39,402,857.50 0.370% 404.97 39,403,262.47
SUB-TOTAL 135,964,852.82 135,964.852.82 0.362% 1,366.67 135,966,219.49
GRAND TOTAL 607,469,852.82 615.673.079.10 1.505% 36,953,247.66 652,626,326.76
TERM
(Days)
1,097
1,096
1.096
932
952
1.076
1.096
1.277
1,460
1.461
1,461
1,461
1.827
1.096
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF APRIL 30, 2012
Cash Balance by Fund:
General 79,255,293
Special Revenue 52,802,291
Debt Service 0
Capital Projects:
General Capital Construction 52,439,033
Trafficlmpact Fees 19,453,678
Public Facilities Fees 48,585.034
Park Development 3,803,287
Transnet Taxes 6.790,300
Drainage Fees 5,637,860
Special Districts 78,388,951
Infrastructure Replacement 69,114,193
Redevelopment 6,572,483
Other Capital Construction 2,733,256
Total 293,518,074
Enterprise:
Carlsbad Municipal Water District 81,840,879
Sewer Fund 51,951,158
Solid Waste 7,263.492
Storm Water 2,916,506
Golf Course 184,611
Total 144,156,646
Internal Service 31,874,062
Agency Funds 12,786,805
Misc. Special Funds 0
Total General Ledger Balance ** 614,393,171
Reconciling Adjustments (1) (2,366,397)
Total Treasurer's Investment Portfolio at Amortized Cost 612,026,774
(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 4/7/12
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of April 30, 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+
HSBC BANK USA AAS AA-
JOHNSON & JOHNSON AAA AAA
MASS MUTUAL GLOBAL AA2 AA+
MERCK AA3 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 AAI AA-
3M AA2 AA-
SHELL INTERNATIONAL AAI AA
TOYOTA AA2 AA-
WAL-MART AA2 AA
WESTPAC BANKING CORP 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 *
Moodv's
ALL STATE LIFE Al
BARCLAYS BANK AAS
GENERAL ELECTRIC Al
PROTECTIVE LIFE A2
Latest Carrying Market
S&P Maturitv Date Value Value
A+
A+
04/S0/201S
12/15/2015
AA+ 05/09/2016
AA- 07/15/2012
WELLS FARGO A2 A+ 10/23/2012
2,004,779 2,094,740
2,000.000 1.945.720
27,405,267 27,565,710
3,000,000 2,993,640
1,004,324 1,020,740
* 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.
/7
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF APRIL 30, 2012
WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS
EXHIBIT 10
PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER
Investment Cost Percent of Portfolio*
ALL STATE LIFE 2,023,559.81 0.33%
BARCLAYS BANK 2.000,000.00 0.32%
BERKSHIRE HATHAWAY 19,421,409.77 3.15%
GENERAL ELECTRIC CAP 27,753,861.07 4.51%
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 0.89%
MET LIFE GLOBAL FUND 22.244,146.45 3.61%
MET LIFE OF CONNECTICUT 2,121,360.00 0.34%
MICROSOFT 2,072,820.00 0.34%
NEW YORK LIFE 11,847,794.90 1.92%
PROTECTIVE LIFE 3,000,000.00 0.49%
PROTER & GAMBLE 12,367,204.17 2.01%
PROVIDENCE HEALTH 2,237,929.50 0.36%
ROYAL BANK OF CANADA 4,086,150.00 0.66%
3M 2,121,417.76 0.34%
SHELL INTERNATIONAL FIN 5,384,350.00 0.87%
TOYOTA 5,023,645.00 0.82%
WAL-MART 11,314,475.44 1.84%
WELLS FARGO 1,042,814.41 0.17%
WESTPAC BANKING CORP 5,000,000.00 0.81%
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
Investment Cost Percent of Portfoli
FAMCA 3,015,908.69 0.49%
FICO 9,265,228.88 1.50%
FEDERAL FARM CREDIT BANK 65,078,046.47 10.57%
FEDERAL HOME LOAN BANK 85,947,002.08 13.96%
FEDERAL HOME LOAN MORTGAGE CORP 24,739.900.45 4.02%
FEDERAL NATIONAL MORTGAGE ASSOC 117,077,695.86 19.02%
TVA 9,629,894.12 1.56%
U.S.TREASURY 2,062,109.25 0.33%
Total Portfolio
* No more than 5% may be invested with a single corporate issuer.
"There are no percentage limits on federal agency issuers.
$615,673,079.10