HomeMy WebLinkAbout2012-07-10; City Council; 20964; Report on City Investments as of May 31, 201211
CITY OF CARLSBAD - AGENDA BILL
AB# 20.964 REPORT ON CITY INVESTMENTS DEPT. HEAD o-
MTG. 7/10/12 AS OF MAY 31, 2012 CITY ATTY. Cs^^
DEPT. TRS CITY MGR. Uj^
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 May 31, 2012 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 620,693,982 607,469,853
Cost of Investments 628,852,346 615,673,079
Amortized Cost(1) 625,096,375 612,026,774
Market Value (2) 629,190,082 616,521,498
(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 5/31/12.
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 $13 million increase between the April and May reports is due to the receipt of property tax
totaling $8; Sales tax in lieu of $3.3; and Motor Vehicle in lieu of $3.8 million during May.
COUNCIL ACTION:
FOR CITY CLERKS USE ONLY.
APPROVED
DENIED
CONTINUED
WITHDRAWN
AMENDED
•
•
•
•
CONTINUED TO DATE SPECIFIC •
CONTINUED TO DATE UNKNOWN •
RETURNED TO STAFF •
OTHER - SEE MINUTES •
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan(5)carisbadca.gov
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF MAY 31. 2012
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
General Special Revenue
$86 $ 53
Internal Service /'H^^ ^ ... .« . • ^
$32 slk Capital Projects
Agency/Other ^^j^B $ 294
Enterprise $144
Total Treasurer's Investment Portfolio at Amortized Cost
May 31, 2012 $625 million
Pooled Investment Interest Income
Current
Month FYTD
Prior
Month FYTD
Current Month
income
Cash Income Fiscal
Year-to-Date * 11,409,585 10,664,375 745,210
"The cash income received is adjusted for any accrued interest purchased.
1 Pooled investment Performance/Measurement
Average Life
(Years)
Average Yield
To Maturity Modified Duration
March 2012 2.19 1.58% 2.107
April 2012 2.12 1.50% 2.033
May 2012 2.13 1.43% 2.050
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. Fourth 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
J9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF MAY 31, 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 7,944,601 6,705,401 7.974,279 6,737,587 25.802 0.85 0.98
FN 16,064,145 21,041,844 16,157,385 21,143,185 0 1.20 1.58
CP 0 0 0 0 0 0.00 0.00
TR 2,016,530 2,017.619 2,074.180 2,078,980 142,500 2.44 2.44
FA 295,631,188 291.279,235 298,384,734 294,179,835 7,459.227 1.66 1.76
CN 161,593,928 155.017,822 162,753,522 156,417.059 3.335,268 1.97 2.02
LAIF 137,969,563 132,806.075 137,969,563 132.806,075 445,724 0.37 0.37
CUSTODY -12.805 0 12,805 17 0.00 0.00
SWEEP 2,620,244 2.711.597 2,620,244 2,711,597 1.047 0.02 0.02
BANK ACCT 1.256.175 434.376 1.256,175 434.376 0 0.02 0.02
TOTALS $625,096,375 $612,026,774 $629,190,082 $616,521,498 11,409.585 1.43% 1.50%
CD - Certificate of Deposit
FN - Federal Discount Notes
CP - Corporate Paper
TR - US Treasury
FA - Federal Agency
CN - Corporate Notes
LAIF - Local Agency Investment Fund
Custody - Investment Cash account
SWEEP - General Fund Overnight Cash acccount
Bank Account - General Fund Cash account
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CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF MAY 31, 2012
BREAKDO WN OF MA TURITIES BY CLASSIFICA TION AND LENGTH OF TIME
CLASS
CD
FN
CP
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANK ACCT
TOTALS
% TOTALS
Total wdthin One Year
WITHIN 6 MONTHS
0
1,793,820
0
0
62,450,060
13,423,475
137,969,563
0
2,620,244
1,256,175
$219,513,336 (1)
34.9%
7 MONTHS TO 1 YEAR
0
0
0
0
11,970,424
14,443,800
0
0
0
0
$26,414,224 (1)
4.2%
$245,927,560 (1)
39.1%
1 TO 5 YEARS
7,944,526
13,862,925
0
2,062,109
224,038,496
135,016,730
0
0
0
0
$382,924,786
60.9%
TOTAL % TOTAL
7,944,526
15,656,745
0
2,062,109
298,458,980
162,884,005
137,969,563
0
2,620,244
1,256,175
$628,852,346
100.0%
1.3%
2.5%
0.0%
0.3%
47.5%
25.9% (2)
21.9%
0.0%
0.4%
0.2%
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.
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YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1998-MAY2012
-^EX-LAIF
-^L AIF
X
H
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MARKET YIELD CURVE
6/30/10,6/30/11,5/31/12
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
-<8- 05/31/2012 .07 .26 0.66 1.56
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Cumulative
Millions $
Cumulative Cash Income
FYll-12
(May 2012)
Monthly Interest Income
Millions $
14
12
10
8
4
2
1.238^
11.078 ^1.143 ^i.^^jL89a 1-145 0.835 0.97 0.83 ""f^l^ 0.745
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
cn: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 05/31/12
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
MAY
04/27/2012
05/02/2012
05/01/2012
05/07/2012
05/01/2012
04/25/2012
05/10/2012
05/08/2012
05/18/2012
05/08/2012
05/02/2012
05/11/2012
05/16/2012
05/23/2012
05/21/2012
4TH QUARTER 2011-2012
Investment Call Par Amount
Date Type Securitv Date Value Coupon (Cost)
04/04/2012 CN MET LIFE INSTITUTIONAL N/A 2.000.000.00 1.48% FLOAT 2.014,740.00
04/05/2012 CN BERKSHIRE HATAWAY N/A 2.000.000.00 5.500% 2.236.460.00
04/13/2012 CN PROCTER & GAMBLE N/A 1.000.000.00 4.850% 1.147,830.00
04/11/2012 ON FNMA 01/30/2013 4,000,000.00 0.75% STEP 3.998,000.00
04/16/2012 CD CAPAHABANK N/A 249.000.00 1.100% 249.000.00
04/16/2012 CD BANK OF GEORGETOWN N/A 249,000.00 1.000% 249.000.00
04/17/2012 CN PROCTER & GAMBLE N/A 3.000.000.00 3.150% 3.242.427.56
04/23/2012 CN WAL-MART STORES N/A 3.000.000.00 5.375% 3.568.354.19
04/20/2012 CD PLUS INTERNATIONAL N/A 249.000.00 0.850% 249.000.00
04/26/2012 FA FNMA 03/08/2013 4,000.000.00 1.200% 4.000,000.00
04/26/2012 FA FFCB 04/25/2013 3.000.000.00 1.200% 2.998.200.00
04/27/2012 FA FFCB 07/18/2012 2.400.000.00 0.950% 2.400.000.00
04/30/2012 CD STERLING SAVINGS BANK N/A 248,000.00 0.750% 248.000.00
05/02/2012 CN TOYOTA N/A 4.000.000.00 0.5% STEP 4,000.000.00
05/03/2012 FA FNMA 03/28/2013 1,655.000.00 1.01% STEP 1.655.000.00
05/04/2012 CD HERITAGE BANK OF COMMERC N/A 249.000.00 0.800% 248,004.00
05/08/2012 FA FNMA 02/27/2014 3.000.000.00 0.550% 3.002,700.00
05/09/2012 CD GEORGIA BANK & TRUST N/A 248.000.00 0.700% 247.628.00
05/10/2012 FA FNMA 05/10/2013 5.000.000.00 1.300% 5,000.000.00
05/15/2012 CN WAL-MART STORES N/A 2.630.000.00 1.500% 2.696.944.02
05/18/2012 CD NORTH JERSEY COMMUNITY N/A 248.000.00 0.850% 247.008.00
05/21/2012 FA FNMA 02/21/2013 4,000.000.00 1.100% 3.988,000.00
05/22/2012 CD STATE BANK & TRUST CO N/A 249.000.00 0.800% 248,004.00
05/24/2012 FA FHLMC 05/24/2013 5.000.000.00 1.200% 4.995.000.00
5/301/12 FA FHLMC 05/30/2014 5.000.000.00 1.200% 5.000,000.00
05/31/2012 CD CRESCENT BANK & TRUST N/A 249.000.00 0.900% 248,502.00
05/24/2012 FA FNMA 02/28/2014 2,050.000.00 1.150% 2.050.000.00
05/29/2012 FA FNMA 05/29/2013 5.000,000.00 0.650% 5,000,000.00
63.973.000.00
Return
Rate
0.950%
0.700%
0.760%
1.528%
1.100%
1.000%
0.720%
1.400%
0.850%
1.200%
1.212%
0.950%
0.750%
1.000%
1.304%
0.900%
0.518%
0.750%
1.300%
0.750%
0.950%
1.165%
0.900%
1.221%
1.200%
0.950%
1.150%
0.650%
Interest
44.500.00
37,317.78
30,272.78
296,083.33
5.503.55
5,402.96
76,247.44
229,833.31
6,520.35
233,600.00
181.700.00
90,630.00
4.749.36
119.888.89
106.280.88
8.953.05
43.545.83
5.589.51
325,000.00
68.939.31
9,429.77
221,000.00
8.974.88
305,000.00
300,000.00
9,468.06
112.243.19
97.500.00
Investment
Return
2.059.240.00
2.273.777.78
1,178.102.78
4.294.083.33
254.503.55
254.402.96
3.318,675.00
3,798,187.50
255.520.35
4.233.600.00
3.179,900.00
2,490,630.00
252.749.36
4.119.888.89
1.761.280.88
256,957.05
3.046.245.83
253,217.51
5,325,000.00
2.765,883.33
256.437.77
4,209.000.00
256.978.88
5.300.000.00
5.300.000.00
257.970.06
2,162.243.19
5.097.500.00
TOTAL THIRD QUARTER 2011-2012 65.227.801.77 1.060% 2,984.174.23 68.211.976.00
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City of Carlsbad
TRANSACTIONS FOR PERIOD:
04/01/12 TO 05/31/12 4TH QUARTER 2011-2012
Trans Investment Call
Date Date Type Securitv Date
MATURITIES
APRIL 05/21/2007 FA FFCB
N/A 04/21/2009 CN BERKSHIRE HATAWAY N/A
04/23/2009 CN BERKSHIRE HATAWAY N/A
04/30/2008 CN PRINCIPAL LIFE INC N/A
MAY 07/25/2007 FA TVA N/A
10/19/2009 FA TVA N/A
02/18/2009 FN FICO N/A
02/25/2009 FN FICO N/A
03/02/2009 FN FICO N/A
TOTAL THIRD QUARTER 2011-2012
CALLS
APRIL
MAY
Par
Value
2,000,000.00
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
16,000,000.00"
07/20/2011 FA FNMA 04/13/2012 2,000,000.00
04/18/2011 FA FHLB 04/18/2012 2,000,000.00
10/19/2011 FA FHLMC 04/19/2012 5,000,000.00
05/10/2011 FA FHLB 04/20/2012 2,000,000.00
10/03/2011 FA FFCB 04/24/2012 5,000,000.00
04/25/2011 FA FNMA 04/25/2012 2,000,000.00
10/27/2011 FA FHLB 04/27/2012 5,000,000.00
05/03/2011 FA FAMCA 05/02/2012 2,000,000.00
11/16/2011 FA FNMA 05/16/2012 5,000,000.00
11/16/2011 FA FNMA 05/16/2012 5,000,000.00
08/10/2011 FA FNMA 05/23/2012 5,000,000.00
11/23/2010 FA FFCB 05/23/2012 2,000,000.00
02/28/2011 FA FHLB 05/29/2012 2,235.000.00
Coupon
4.875%
4.000%
4.000%
4.500%
6.790%
6.790%
0.000%
0.000%
0.000%
2.000%
2.700%
0.500%
2.000%
1.480%
2.650%
0.5% STEP
2.550%
1.350%
1.800%
2.000%
2.000%
2.000%
Amount
(Cost)
1,987.880.00
1.022.563.95
2.039,340.00
1,000.000.00
2,130.980.00
3,399,498.48
916,713.56
1,826,280.00
Return
Rate
5.015%
3.200%
3.300%
4.500%
5.235%
1.534%
2.710%
2.850%
Interest
489,057.50
96,769.38
198,882.22
178,375.00
524,632.22
128,989.85
83,286.44
173,720.00
Investment
Return
2.476.937.50
1.119.333.33
2.238.222.22
1.178.375.00
2.655,612.22
3.528.488.33
1,000.000.00
2.000.000.00
TOTAL THIRD QUARTER 2011-2012 44,235.000.00
1.818.680.00 3.000% 181.320.00 2.000.000.00
16.141.935.99 3.345% 2.055.032.61 18.196.968.60
2,019,620.00 1.730% 129.602.22 2.149.222.22
2,000,000.00 2.700% 270.000.00 2.270.000.00
5.000.000.00 2.585% 659,375.00 5.659.375.00
2,011,380.00 1.850% 146.397.78 2.157,777.78
5,000,000.00 1.480% 370.000.00 5,370,000.00
1.999.000.00 2.661% 266.000.00 2,265.000.00
4.996.250.00 1.870% 472,500.00 5,468,750.00
2.000,000.00 2.550% 254.858.33 2.254.858.33
4,962.500.00 1.506% 375.000.00 5.337,500.00
5.000,000.00 1.800% 450.000.00 5,450.000.00
5.039.000.00 1.809% 389,611.11 5,428,611.11
2.000,000.00 2.000% 200,000.00 2,200,000.00
2.235.000.00 2.000% 190,099.17 2,425,099.17
44.262.750.00 1.960% 4.173.443.61 48,436.193.61
INVESTMENT REPORT
AS OF MAY 31,2012
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
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
10/07/2010 FA FFCB 3.4% 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% NON-CALL 3,000,000.00 2.963.940.00 3.765% 560.476.67 3.524.416.67 1.824
O 10/20/2009 FA FHLMC 4.25% NON-CALL 500,000.00 536.967.86 2.100% 39,296.03 576.263.89 1.310
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INVESTMENT REPORT
AS OF MAY 31,2012
INVESTMENT
DATE TYPE
10/20/2009 FA
11/10/2008 FA
08/13/2009 FA
05/25/2010 FA
12/28/2009 FA
08/27/2008 FA
08/19/2009 FA
11/12/2008 FA
12/17/2008 FA
03/24/2010 FA
02/23/2010 FA
10/19/2011 FA
04/15/2010 FA
10/19/2009 FA
01/20/2009 FA
02/12/2010 FA
09/17/2010 FA
03/24/2010 FA
10/20/2009 FA
08/01/2011 FA
03/24/2010 FA
09/08/2010 FA
03/24/2010 FA
03/24/2010 FA
11/07/2011 FA
06/29/2011 FA
01/23/2012 FA
05/08/2012 FA
06/04/2010 FA
02/23/2012 FA
05/29/2012 FA
06/29/2011 FA
07/27/2011 FA
03/30/2011 FA
04/04/2011 FA
SECURITY
FHLMC 4.0% NON-CALL
FHLB 5.375% NON-CALL
FHLB 4.25% NON-CALL
FFCB 1.375% NON-CALL
FHLB 1.85% NON-CALL
FNMA 4.375% NON-GALL
FFCB 2.7% NON-CALL
FHLB 4.0% NON-CALL
FHLB 4.375% NON-CALL
FHLMC 4.125% NON-CALL
FFCB 3.875% NON-CALL
FNMA 1.125% NON-CALL
FHLB 2.00% NON-CALL
FFCB 5.350% NON-CALL
FHLB 3.125% NON-CALL
FFCB 3.00% NON-CALL
FNMA 1.3% CALL 3/17/11
FHLB 2.5% NON-CALL
FFCB 4.375% NON-CALL
FFCB 1.0% CALL 8/1/12 CONT
FHLB 5.5% NON-CALL
FNMA 1.50% CALL 3/8/11
FHLB 5.25% NON-CALL
FFCB 3.0% NON-CALL
FNMA .80% CALL 10/24/12
FHLMC 1.25% CALL 6/29/12
FHLB .52% NON-CALL
FNMA .55% CALL 2/27/14 ONE TIME
FNMA 2.00% CALL 10/29/12 STEP
FHLB .55% NON-CALL
FNMA .65% CALL 5/29/13 ONE TIME
FFCB 1.6% CALL CONT
FFCB 1.550% CALL 7/2712 CONT
FHLB 2.0% NON-CALL
FHLB 2.0% NON-CALL
PAR INVESTED RETURN INVESTMENT TERM
VALUE AMOUNT RATE INTEREST RETURN (Davs)
500.000.00 532,794.50 2.120% 40,094.39 572.888.89 1.331
1,000.000.00 1,065,788.37 3.800% 181.163.02 1.246.951.39 1,677
2.000,000.00 2,130.988.03 2.450% 195.081.41 2.326,069.44 1,401
2,000,000.00 1.993.760.00 1.479% 91.031.67 2,084,791.67 1,127
2,000.000.00 1.987.226.45 2.040% 142,273.55 2,129,500.00 1,278
2.000.000.00 2,035.600.00 3.970% 392.177.78 2,427,777.78 1.785
1.000,000.00 1.005.669.88 2.550% 102.330.12 1,108,000.00 1.461
1,000,000.00 1.007.890.00 3.818% 184.776.67 1,192,666.67 1.759
2,000,000.00 2.154,940.00 2.625% 259,712.78 2,414,652.78 1.731
3,000,000.00 3,222,330.00 1.930% 211,826.25 3,434,156.25 1.283
1.000.000.00 1,065,180.00 2.000% 75,181.11 1,140,361.11 1,322
5.000.000.00 5,061,150.00 0.500% 49.631.25 5,110,781.25 720
2.000.000.00 2,000.000.00 2.000% 140.000.00 2,140,000.00 1,279
2.000.000.00 2,235,072.36 2.264% 193.522.08 2,428,594.44 1.463
2.000.000.00 2,047.941.08 2.600% 258.135.31 2,306,076.39 1.788
1,000.000.00 1,028,536.49 2.250% 91.463.51 1,120,000.00 1.461
2,000,000.00 2,000,000.00 1.300% 91.000.00 2,091,000.00 1.277
3,000,000.00 3.016,423.52 2.363% 300.034.82 3,316,458.34 1.542
3,000,000.00 3,234,480.00 2.595% 381.665.83 3,616,145.83 1.714
5,000,000.00 5.000,000.00 1.000% 150.000.00 5,150,000.00 1.096
3,000,000.00 3.395.255.41 2.323% 328,452.92 3,723,708.33 1.603
2,000,000.00 2.000.000.00 1.500% 120.000.00 2,120,000.00 1.461
2,000,000.00 2.231.960.00 2.490% 237,040.00 2,469.000.00 1.633
2,000,000.00 2.047.400.80 2.440% 222.265.87 2,269,666.67 1.643
3,000,000.00 3.000.937.50 0.789% 70.195.83 3,071,133.33 1.082
2,000,000.00 2.000.000.00 1.250% 87,500.00 2,087,500.00 1.279
5,000,000.00 5.000,000.00 0.520% 78.000.00 5,078,000.00 1.096
3,000.000.00 3,002,700.00 0.518% 43.545.83 3.046.245.83 1.025
2.000.000.00 2,018,771.34 2.780% 277.339.77 2.296.111.11 1,790
5,000.000.00 5.000.000.00 0.550% 88.763.89 5.088.763.89 1.177
5.000.000.00 5.000.000.00 0.650% 97,500.00 5.097.500.00 1,095
2.000.000.00 2.000.000.00 1.600% 128.000.00 2.128.000.00 1,461
3,500.000.00 3.500.000.00 1.550% 217.000.00 3,717.000.00 1,461
2,000,000.00 1,999,000.00 2.012% 174.333.33 2.173,333.33 1.583
2,000.000.00 2,000,000.00 2.000% 176.000.00 2.176.000.00 1,607
INVESTMENT REPORT
AS OF MAY 31,2012
INVESTMENT
DATE
09/14/2010
09/21/2010
10/28/2010
03/01/2012
02/22/2012
02/24/2012
04/27/2012
04/27/2011
06/29/2011
06/29/2011
08/15/2011
08/22/2011
08/29/2011
09/09/2011
09/29/2011
10/06/2011
10/11/2011
10/12/2011
10/24/2011
10/26/2011
11/23/2011
01/25/2012
01/30/2012
04/11/2012
02/06/2012
02/21/2012
05/21/2012
05/24/2012
03/08/2012
04/26/2012
03/13/2012
05/03/2012
04/26/2012
05/10/2012
05/24/2012
TYPE SECURITY
FA FHLB 1.74% CALL 9/14/12
FA FNMA 2.0% CALL 3/21/11
FA FNMA 1.50% CALL 4/28/11
FA FNMA .50% QRTLY CALL STEP
FA FFCB .85% CALL 2/22/13
FA FHLMC .85% ONE CALL 2/24/14
FA FFCB .95% CALL 7/18/12
FA FHLB 2.5% NON-CALL
FA FHLMC 2.10% CALL
FA FN MA 1.50% CALL STEP
FA FFCB 1.75% CALL 8/15/12 CONT
FA FFCB 1.5% CALL 8/22/12 CONT
FA FHLB 1.0% CALL 8/24/12 QRTLY STEP
FA FHLB .625% CALL 3/9/12 QRTLY STEP
FA FNMA 1.25% CALL 3/28/12 STEP
FA FFCB 1.30% NON-CALL
FA FFCB 1.370% CALL 10/11 /12 CONT
FA FNMA 1.25% CALL 4/12/12 QRTLY
FA FNMA 1.70% CALL 10/24/12 QRTLY
FA FNMA 1.125% CALL 10/26/12 QRTLY STEP
FA FNMA 1.25% STEP QRTLY CALLS
FA FNMA 1.65% QRTLY CALLS
FA FNMA 1.30% QRTLY CALL 1/30/13
FA FNMA .75% ANNUAL CALL STEP
FA FNMA .75% QRTLY CALL 2/6/13 STEP
FA FNMA 1.10% QRTLY CALL
FA FNMA 1.10% QRTLY CALL
FA FNMA 1.150% ONE CALL 2/28/14
FA FNMA 1.375% QRTLY CALL
FA FNMA 1.2% QRTLY CALL
FA FNMA 1.150% ONE CALL 3/13/14
FA FNMA 1.01 % STEP CALL 3/28/13 ANNUAL
FA FFCB 1.20% CALL 4/25/13 CONTINUOUS
FA FNMA 1.30% CALL 5/10/13 QRTLY
FA FHLMC 1.2% CALL 5/24/13 QRTLY
PAR
VALUE
2,000,000.00
2,000,000.00
2.000.000.00
3.000.000.00
5,000.000.00
3.000.000.00
2,400.000.00
2.000.000.00
2.000.000.00
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
4,000,000.00
5,000,000.00
5,000.000.00
4.000.000.00
2.050,000.00
5.000.000.00
4.000.000.00
3.950.000.00
1.655.000.00
3.000.000.00
5.000.000.00
5.000.000.00
INVESTED
AMOUNT
2.000,000.00
2,000.000.00
1,999.000.00
2.999.700.00
5,000,000.00
2,995,500.00
2,400,000.00
2,000,000.00
2,000,000.00
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
5,030.800.00
5.000.000.00
3,998.000.00
5.000,000.00
4,985,000.00
3,988,000.00
2,050.000.00
5.000.000.00
4.000.000.00
3.942.100.00
1,655,000.00
2,998,200.00
5,000,000.00
4.995,000.00
RETURN
RATE
1.740%
2.000%
1.510%
1.317%
0.850%
0.890%
0.950%
2.500%
2.100%
2.250%
1.750%
1.500%
1.735%
1.988%
1.445%
1.300%
1.370%
1.250%
1.700%
1.810%
1.688%
1.519%
1.300%
1.528%
1.682%
1.162%
1.165%
1.150%
1.375%
1.200%
1.191%
1.304%
1.200%
1.300%
1.221%
INTEREST
174,000.00
200,000.00
151,000.00
156,841.67
170,000.00
106,500.00
90,630.00
250,000.00
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
425.000.00
372,304.17
325.000.00
296.083.33
425.000.00
290.000.00
221.000.00
112,243.19
343,750.00
233,600.00
235,025.00
106.280.88
181,700.00
325,000.00
305,000.00
INVESTMENT
RETURN
2.174.000.00
2.200.000.00
2.150.000.00
3.156.541.67
5.170,000.00
3.102.000.00
2,490,630.00
2,250.000.00
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
5,425.000.00
5.403.104.17
5.325.000.00
4.294.083.33
5.425.000.00
5.275.000.00
4.209.000.00
2.162,243.19
5.343.750.00
4,233,600.00
4,177,125.00
1,761.280.88
3.179.900.00
5.325.000.00
5,300,000.00
TERM
(Pavs)
1.826
1.826
1,826
1,439
1,461
1,461
1,452
1,827
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
1.785
1.827
1.755
1,827
1.827
1.737
1.741
1.826
1.777
1.826
1.790
1.825
1.826
1.826
INVESTMENT REPORT
AS OF MAY 31, 2012
INVESTMENT
DATE TYPE SECURITY
05/30/2012 FA FHLMC 1.2% CALL 5/30/14 QRTLY
PAR
VALUE
5.000.000.00
INVESTED
AMOUNT
5.000.000.00
RETURN
RATE
1.200%
INTEREST
300.000.00
INVESTMENT TERM
RETURN (Davs)
5.300.000.00 1.826
SUB-TOTAL 294.639.000.00 298.458.979.89 1.657% 20.985.582.84 319,444.562.73
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 16.376.000.00 15,656,744.63 1.203% 1.034.235.74 16,690.980.37 1,173
Federal Investments Total 311,015,000.00 314,115,724.52 22,019,818.58 336,135,543.10 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 ON 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 GN 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
12/28/2010 CN 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
04/24/2008 CN 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
05/07/2008 CN 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
05/12/2009 CN 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
INVESTMENT
DATE TYPE
05/30/2008 CN
05/09/2008 CN
02/11/2011 CN
12/23/2008 CN
05/12/2009 CN
07/18/2011 CN
10/28/2011 CN
04/04/2012 CN
12/27/2011 CN
05/27/2011 . CN
05/29/2009 CN
05/20/2010 CN
10/07/2011 CN
12/23/2011 CN
10/05/2011 CN
04/05/2012 CN
01/17/2012 CN
02/01/2012 CN
09/16/2011 CN
05/02/2012 CN
02/17/2012 CN
10/04/2011 CN
04/17/2012 CN
02/09/2011 CN
05/06/2011 CN
10/06/2011 CN
05/15/2012 CN
02/10/2012 CN
12/15/2010 CN
12/15/2010 CN
04/13/2012 CN
10/31/2011 CN
12/28/2011 CN
01/25/2012 CN
INVESTMENT REPORT
AS OF MAY 31,2012
SECURITY
ALLSTATE LIFE 5.375% NON-CALL
NEW YORK LIFE 4.650% NON-CALL
NEW YORK LIFE 4.650% NON-CALL
BERKSHIRE HATHWWY 4.60% NON-CALL
3 M 4.375% NON-CALL
GENERAL ELECTRIC 2.10% NON-CALL
METLIFE GLOBAL 2.00% NON-CALL
METLIFE GLOBAL 1.481% NON-CALL FLOATING
MASS MUTUAL GLOB 2.875% NON-CALL
WAL-MART 3.20% NON-CALL
WAL-MART 3.20% NON-CALL
MICROSOFT 2.95% NON-CALL
METLIFE GLOBAL 5.125% NON-CALL
GENERAL ELECTRIC CAPITAL .696% FLOATING
PROVEDENCE HEALTH 5.05% CALL @ MAKEWHOLE
BERKSHIRE HATHAWAY 5.50% NON-CALL
NEW YORK LIFE 1.30% NON-CALL
GENERAL ELECTRIC 1.375% FLOATER
BERKSHIRE HATHAWAY 3.20% NON-CALL
TOYOTA .50% STEP CALL 4/3/013 QRTLY
SHELL INTERNATIONAL FIN 3.1% NON-CALL
MERCK & CO 4.0% NON-CALL
PROCTER & GAMBLE 3.150% NON-CALL
MET LIFE GLOBAL FUNDING 2.5% NON-CALL
MET LIFE GLOBAL FUNDING 2.5% NON-CALL
WAL-MART 1.50% NON-CALL
WAL-MART 1.50% NON-CALL
PROCTER & GAMBLE 1.80% NON-CALL
BARCLAYS BANK 3.10% NON-CALL
ROYAL BANK OF CANADA 2.625% NON-CALL
PROCTER & GAMBLE 4.85% NON-CALL
MET LIFE GLOBAL FUNDING 3.125% NON-CALL
MET LIFE GLOBAL FUNDING 3.125% NON-CALL
MET LIFE GLOBAL FUNDING 3.125% NON-CALL
PAR INVESTED RETURN INVESTMENT TERM
VALUE AMOUNT RATE INTEREST RETURN (Davs)
2,000,000.00 2.023.559.81 5.100% 504.981.86 2.528.541.67 1.796
1,000,000.00 1.006.649.66 4.500% 225.850.34 1.232.500.00 1.826
2.000.000.00 2.150.000.00 1.250% 23.766.67 2.173.766.67 818
1.000.000.00 1.023.835.68 4.000% 177.542.10 1.201.377.78 1.604
2.000.000.00 2,121,417.76 2.850% 251.186.41 2.372.604.17 1.556
2.000.000.00 2.037.760.00 1.320% 65.956.67 2.103.716.67 904
1.475.000.00 1.490.888.40 1.500% 49.011.60 1.539.900.00 1.078
2.000.000.00 2.014.740.00 0.950% 39.986.00 2.054.726.00 730
2.500.000.00 2.583.739.37 1.400% 82.771.05 2.666.510.42 846
2.500.000.00 2.645,275.00 1.200% 92.058.33 2.737.333.33 1.084
1.000.000.00 1,003,190.00 3.130% 155.565.56 1.158.755.56 1.812
2.000.000.00 2.072,820.00 2.005% 164.982.78 2.237.802.78 1.473
1.500,000.00 1,625,547.72 1.900% 80.092.90 1.705.640.62 977
2,000,000.00 1,914.520.00 2.250% 123.464.31 2.037.984.31 997
2,000,000.00 2,237,929.50 1.000% 63.948.28 2.301.877.78 1.092
2,000,000.00 2,236.460.00 0.700% 37,317.78 2.273.777.78 909
5.000.000.00 5.021.951.16 1.150% 172,146.06 5,194.097.22 1.091
5.000.000.00 5.000.000.00 1.375% 206,059.03 5.206.059.03 1,094
3.000.000.00 3.175.710.00 1.430% 150,956.67 3,326.666.67 1,244
4.000.000.00 4.000.000.00 1.000% 119,888.89 4.119.888.89 1.093
5.000,000.00 5.384.350.00 0.780% 137,052.78 5.521.402.78 1.227
5.000.000.00 5.498.750.00 1.260% 249,027.78 5.747.777.78 1.365
3,000.000.00 3.242.427.56 0.720% 76.247.44 3.318,675.00 1.232
1.000.000.00 978,478.42 3.000% 137.493.80 1,115,972.22 1.693
1.000.000.00 993.799.11 2.650% 116.131.45 1,109.930.56 1,607
3.000,000.00 3,049,826.34 1.080% 132,548.66 3.182.375.00 1,480
2,630.000.00 2,696,944.02 0.750% 68.939.31 2,765.883.33 1.258
2.844,000.00 2,965,410.36 0.650% 71,270.64 3.036.681.00 1.374
2,000.000.00 2,000.000.00 3.100% 310.000.00 2.310,000.00 1.826
2,000,000.00 2,038.220.00 2.220% 225.009.16 2,263,229.16 1.826
1,000,000.00 1,147.830.00 0.760% 30.272.78 1,178,102.78 1.341
1.635.000.00 1,695,247.73 2.200% 15.611.98 1,710.859.71 1.533
2,000.000.00 2,063.239.83 2.300% 189,017.11 2.252.256.94 1.475
5.000.000.00 5.189.924.57 2.120% 428.999.04 5.618,923.61 1,447
INVESTMENT
DATE
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
INVESTMENT REPORT
AS OF MAY 31,2012
PAR INVESTED RETURN INVESTMENT TERM
SECURHY VALUE AMOUNT RATE INTEREST RETURN {Days)
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 1.154.340.28 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
PROCTER & 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 157.884.000.00 162,884,004.49 1.965% 13,224,996.20 176,109,000.69 1.494
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
09/21/2011 CD TRANSPORTATION ALLIANCE BANK INC .75% 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% 248,000.00 248,000.00 1.300% 9,680.83 257.680.83 1,096
INVESTMENT REPORT
AS OF MAY 31,2012
INVESTMENT
DATE
09/23/2011
04/30/2012
04/20/2012
01/11/2012
01/11/2012
05/09/2012
01/23/2012
09/15/2011
12/02/2011
01/25/2012
02/10/2012
05/04/2012
05/18/2012
05/22/2012
05/31/2012
02/28/2012
TYPE
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
O
O
O
O
O
O
O
O
SECURITY
BMW BANK OF NORTH AMERICA 1.35%
STERLING SAVINGS BANK .75%
PLUS INTERNATIONAL .85%
SALLIE MAE BANK 1.35%
BARCLAYS BANK DELAWARE 1.25%
GEORGIA BANK & TRUST .70%
LCA BANK CORPORATION .85%
BANK OF THE WEST 1.4%
MIDLAND STATES BANK 1.25%
NATIONAL REPUBLIC BANK 1.0%
CARDINAL BANK MCLEAN VA .90%
HERITAGE BANK OF COMMERCE .80%
NORTH JERSEY COMMUNITY .85%
STATE BANK & TRUST CO MACON. GA .80%
CRESCENT BANK & TRUST .90%
MERCANTILE BANK OF MICHIGAN .15%
WELLS FARGO BANK
CORPORATE CASH MANAGEMENT ACCOUNT
LIBRARY ACCOUNT
UNION TRUST
LAIF WATER DISTRICT
LAIF PUBLIC IMPROVEMENT CORPORATION
LAIF PUBLIC FINANCING CORPORATION
LAIF CITY OF CARLSBAD
SUB-TOTAL
PAR INVESTED RETURN INVESTMENT TERM
VALUE AMOUNT RATE INTEREST RETURN (Days)
248.000.00 248.000.00 1.350% 10,053.17 258,053.17 1.096
248.000.00 248.000.00 0.750% 4,749.36 252.749.36 932
249.000.00 249.000.00 0.850% 5.520.35 254.520.35 952
248.000.00 248,000.00 1.350% 9.869.73 257.869.73 1.076
248.000.00 248,000.00 1.250% 9.308.49 257.308.49 1.096
248.000.00 247.628.00 0.750% 5.589.51 253.217.51 1.097
248.000.00 248.000.00 0.850% 7.375.11 255.375.11 1.277
249.000.00 249.000.00 1.400% 13,943.96 262.943.96 1.460
249.000.00 249.000.00 1.250% 12,450.00 261.450.00 1.461
249.000.00 249.000.00 1.000% 9,966.87 258,966.87 1.461
249.000.00 249.000.00 0.900% 8,970.06 257,970.06 1.461
249.000.00 248.004.00 0.900% 8.953.05 256,957.05 1.459
248.000.00 247,008.00 0.950% 9.429.77 256,437.77 1.461
249.000.00 248,004.00 0.900% 8.974.88 256,978.88 1.462
249.000.00 248.502.00 0.950% 9.468.06 257,970.06 1,461
248.000.00 247,380.00 1.150% 14.895.62 262,275.62 1,827
7.949.000.00 7,944,526.00 0.852% 256.792.47 8,201,318.47 1,140
1.255.592.00 1,255.592.00 0.020% 0.69 1.255,592.69
2.620.244.41 2.620.244.41 0.020% 1.44 2,620,245.85
582.73 582.73 0.000% -582.73
_ -0.000% --
34.607.000.00 34.607.000.00 0.370% 355.68 34,607.355.68
33,176.505.97 33,176.505.97 0.370% 340.98 33.176.846.95
33,619,199.08 33.619.199.08 0.370% 345.53 33.619.544.61
36,566,857.50 36,566,857.50 0.370% 375.83 36,567,233.33
141,845,981.69 141,845,981.69 0.360% 1.420.14 141.847,401.83
620,693.981.69 628,852,345.95 1.425% 35,743,597.38 664.595.943.33
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF MAY 31, 2012
Cash Balance by Fund:
General 85,916,767
Special Revenue 53,299,819
Debt Service ^
Capital Projects:
General Capital Construction 52,301,804
Traffic Impact Fees 19,586,812
Public Facilities Fees 48,842,364
Park Development 3,813,363
Transnet Taxes 6,646,663
Drainage Fees 5,622,720
Special Districts 79,148,490
Infrastructure Replacement 69,106,297
Redevelopment 6,366,168
Other Capital Construction 2,739,837
Total 294,174,518
Enterprise:
Carlsbad Municipal Water District 81,662,254
Sewer Fund 51,567,082
Solid Waste 7,237,510
Storm Water 2,800,289
Golf Course 162,973
Total 143,430,108
Internal Service 32,014,307
Agency Funds 16,429,085
Misc. Special Funds ^
Total General Ledger Balance ** 625,264,604
Reconciling Adjustments (1) (168,229)
Total Treasurer's Investment Portfolio at Amortized Cost 625,096,375
(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 6/7/12
17
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of May 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)
Moody's S&P
BERKSHIRE HATHAWAY AA2 AA+
HSBC BANK USA AA3 AA-
JOHNSON & JOHNSON AAA AAA
MASS MUTUAL GLOBAL AA2 AA+
MERCK AA3 AA
MET LIFE GLOBAL AA3 AA-
MET LIFE OF CONNECTICUT AA3 AA-
MICROSOFT AAA AAA
NEW YORK LIFE AAA AA+
PROCTER & GAMBLE AA3 AA-
PROVIDENCE HEALTH AA2
ROYAL BANK OF CANADA AA1 AA-
3M AA2 AA-
SHELL INTERNATIONAL AA1 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
Moody's S&P
Latest
Maturity Date
Carrying
Value
Marltet
Value
ALL STATE LIFE Al A+ 04/30/2013 2,004,379 2,086,180
BARCLAYS BANK AA3 A+ 12/15/2015 2,000,000 1,946,160
GENERAL ELECTRIC Al AA+ 05/09/2016 27,396,336 27,370,364
PROTECTIVE LIFE A2 AA-07/15/2012 3,000,000 2,995,860
WELLS FARGO A2 A+ 10/23/2012 1,003,570 1,017,530
* 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 MAY 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 0.32%
BARCLAYS BANK 2,000,000.00 0.32%
BERKSHIRE HATHAWAY 19,421.409.77 3.09%
GENERAL ELECTRIC CAP 27,753.861.07 4.41%
HSBC BANK USA 5.000.000.00 0.80%
JOHNSON & JOHNSON 1,017.457.28 0.16%
MASS MUTUAL 3.607.914.95 0.57%
MERCK & CO 5,498,750.00 0.87%
MET LIFE GLOBAL FUND 22.244,146.45 3.54%
MET LIFE OF CONNECTICUT 2,121,360.00 0.34%
MICROSOFT 2,072,820.00 0.33%
NEW YORK LIFE 11,847,794.90 1.88%
PROTECTIVE LIFE 3,000,000.00 0.48%
PROTER & GAMBLE 12,367,204.17 1.97%
PROVIDENCE HEALTH 2.237,929.50 0.36%
ROYAL BANK OF CANADA 4,086,150.00 0.65%
3M 2,121,417.76 0.34%
SHELL INTERNATIONAL FIN 5,384.350.00 0.86%
TOYOTA 9,023.645.00 1.43%
WAL-MART 14,011,419.46 2.23%
WELLS FARGO 1,042,814.41 0.17%
WESTPAC BANKING CORP 5,000,000.00 0.80%
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
Investment Cost Percent of Portfolio**
FAMCA 1,015,908.69 0.16%
FICO 4.703,555.32 0.75%
FEDERAL FARM CREDIT BANK 63,078,046.47 10.03%
FEDERAL HOME LOAN BANK 83,712,002.08 13.31%
FEDERAL HOME LOAN MORTGAGE CORP 34,734,900.45 5.52%
FEDERAL NATIONAL MORTGAGE ASSOC 122,771,895.86 19.52%
TVA 4,099,415.64 0.65%
U.S.TREASURY 2,062,109.25 0.33%
Total Portfolio $628,852,345.95
No more than 5% may be invested with a single corporate issuer.
'There are no percentage limits on federal agency issuers.