HomeMy WebLinkAbout2012-08-28; City Council; 20987; Report on City Investments June 30, 201211
CITY OF CARLSBAD - AGENDA BILL
AB# 20.987 REPORT ON CITY INVESTMENTS DEPT. HEAD ^
MTG. 8/28/12 ASOF JUNE 30, 2012 CITYATTY.
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 June 30, 2012 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 620,564,676 620,693,982
Cost of Investments 628,587,917 628,852,346
Amortized Cost (1) 625,255,175 625,096,375
Market Value (2) 629,098,686 629,190,082
(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 06/30/12.
The equity portion ofthe various funds in the total portfolio is summarized in the graph below.
Fund balances are restricted for various purposes. See Exhibit 8 for a more detailed breakdown.
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
General
$80
Internal Service
$33
Agency/Other
Enterprise $145
Special Revenue
$52
Capital Projects
$298
Total Treasurer's Investment Portfolio at Amortized Cost
June 30,2012 $625 million
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WITHDRAWN • OTHER-SEE MINUTES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 NancvSullivan@carlsbaaca.gov
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF JUNE 30. 2012
Pooled Investment Interest Income
Current
Month FYTD
Prior
Month FYTD
Current Month
Income
Cash Income Fiscal
Year-to-Date * 12,365,589 11,409,585 956,004
'The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life
(Years)
Average Yield
To Maturity Modified Duration
April 2012 2.12 1.50% 2.033
May 2012 2.13 1.43% 2.050
June 2012 2.21 1.36% 2.128
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.
Investment Portfolio for Bond Proceeds
Current Quarter Prior Quarter
Par Value 17,707,241 17,705,458
Cost 17,707,241 17,705,458
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
EXHIBIT FOR INVESTMENTS OF BOND PROCEEDS HELD SEPARATELY:
11. Detailed Investment Report - Quarteriy Report
EXHIBIT FOR SUMMARY OF OUTSTANDING HOUSING LOANS:
12. Detail Of Outstanding Housing Loans - Quarterly Report
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JUNE 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 8,689,693 7,944,601 8,720,001 7,974,279 70.456 0.84 0.85
FN 16,082,103 16,064,145 16,155,347 16,157.385 0 1.20 1.20
CP 0 0 0 0 0 0.00 0.00
TR 2,015,477 2,016,530 2,068,400 2,074,180 142.500 2.44 2.44
FA 295,919,697 295,631,188 298,435,170 298,384,734 8.088,394 1.53 1.66
CN 162,476,530 161,593,928 163,648,092 162,753,522 3.617,399 1.92 1.97
LAIF 136,673,563 137,969,563 136,673,563 137,969,563 445.724 0.36 0.37
CUSTODY 108,268 -108,268 0 17 0.00 0.00
SWEEP 2,890,207 2,620,244 2,890,207 2,620,244 1,100 0.02 0.02
BANK ACCT 399,638 1,256,175 399,638 1.256,175 0 0.02 0.02
TOTALS $625,255,175 $625,096,375 $629,098,686 $629,190,082 12,365.589 1.36% 1.43%
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 JUNE 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
1,793,820
0
0
50,326,055
9,162,219
136,673,563
108,268
2,890,207
399,638
$201,353,769 (1)
32.0%
7 MONTHS TO 1 YEAR
0
0
0
0
16,447,942
14,443,800
0
0
0
0_
$30,891,741 (1)
4.9%
$232,245,510 (1)
37.0%
1 TO 5 YEARS
8,689,526
13,862,925
0
2,062,109
231,711,117
140,016,730
0
0
0
0_
$396,342,407
63.1%
TOTAL
8,689,526
15,656,745
0
2,062,109
298,485,113
163,622,749
136,673,563
108,268
2,890,207
399,638
$628,587,917
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
1.4%
2.5%
0.0%
0.3%
47.5%
26.0% (2)
21.7%
0.0%
0.5%
0.1%
100.0%
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YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1998-JUNE 2012
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MARKET YIELD CURVE
6/30/10,6/30/11,6/30/12
Market Rates
10 Yr
3 Mth 2 Yr 5 Yr 10 Yr
-^06/30/2010 .17 .60 1.77 2.93
06/30/2011 .01 .46 1.76 3.16
-«..06/30/2012 .07 .25 0.62 1.45
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4^
Cumulative Cash Income
FYll-12
Cumulative
Millions $ (June 2012)
Monthly Interest Income
Millions $
14
12
10
8
4
2
1.238^
f1.078 ^1.143 1-145 0.835 0.97 0.83 ""f^^ 0.745 0.96
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Interest Income "»"Budget -ii-Actual
8
7
6
5
4
3
2
1
M
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1-3
City of Cartsbad
TRANSACTIONS FOR PERIOD:
04/01/12 TO 06/30/12 4TH QUARTER 2011-2012
Trans Investment
Date Date Typt
BUYS
APRIL
03/30/2012 04/04/2012 CN
04/02/2012 04/05/2012 CN
04/10/2012 04/13/2012 CN
04/10/2012 04/11/2012 CN
04/11/2012 04/16/2012 CD
04/11/2012 04/16/2012 CD
04/12/2012 04/17/2012 CN
04/18/2012 04/23/2012 CN
04/17/2012 04/20/2012 CD
04/25/2012 04/26/2012 FA
04/25/2012 04/26/2012 FA
04/26/2012 04/27/2012 FA
04/25/2012 04/30/2012 CD
MAY
04/27/2012 05/02/2012 CN
05/02/2012 05/03/2012 FA
05/01/2012 05/04/2012 CD
05/07/2012 05/08/2012 FA
05/01/2012 05/09/2012 CD
04/25/2012 05/10/2012 FA
05/10/2012 05/15/2012 CN
05/08/2012 05/18/2012 CD
05/18/2012 05/21/2012 FA
05/08/2012 05/22/2012 CD
05/02/2012 05/24/2012 FA
05/11/2012 05/30/2012 FA
05/16/2012 05/31/2012 CD
05/23/2012 05/24/2012 FA
05/21/2012 05/29/2012 FA
JUNE
05/30/2012 06/08/2012 CD
06/12/2012 06/20/2012 CD
06/06/2012 06/13/2012 CD
06/19/2012 06/20/2012 FA
05/31/2012 06/04/2012 FA
06/19/2012 06/20/2012 FA
06/01/2012 06/04/2012 FA
05/31/2012 06/01/2012 FA
06/05/2012 06/06/2012 FA
Securitv
MET LIFE INSTITUTIONAL
BERKSHIRE HATAWAY
PROCTER & GAMBLE
FNMA
CAPAHA BANK
BANK OF GEORGETOWN
PROCTER & GAMBLE
WAL-MART STORES
PLUS INTERNATIONAL
FNMA
FFCB
FFCB
STERLING SAVINGS BANK
TOYOTA
FNMA
HERITAGE BANK OF COMM
FNMA
GEORGIA BANK & TRUST
FNMA
WAL-MART STORES
NORTH JERSEY COMMUNIT
FNMA
STATE BANK & TRUST CO
FHLMC
FHLMC
CRESCENT BANK & TRUST
FNMA
FNMA
HUNTINGTON NATL BANK
FIRST NATL BANK OMAHA
SOVEREIGN BANK
FNMA
FNMA
FNMA
FFCB
FNMA
FNMA
Call Par Amount Return
Date Value CouDon (Cost) Rate Interest
N/A 2,000,000.00 1.48% FLOAT 2,014,740.00 0.950% 44,500.00
N/A 2,000,000.00 5.500% 2,236,460.00 0.700% 37,317.78
N/A 1,000,000.00 4.850% 1,147,830.00 0.760% 30,272.78
01/30/2013 4,000,000.00 0.75% STEP 3,998,000.00 1.528% 296,083.33
N/A 249,000.00 1.100% 249,000.00 1.100% 5,503.55
N/A 249,000.00 1.000% 249,000.00 1.000% 5,402.96
N/A 3.000,000.00 3.150% 3,242.427.56 0.720% 76,247.44
N/A 3,000,000.00 5.375% 3,568,354.19 1.400% 229,833.31
N/A 249,000.00 0.850% 249,000.00 0.850% 6,520.35
03/08/2013 4,000,000.00 1.200% 4,000,000.00 1.200% 233,600.00 04/25/2013 3,000,000.00 1.200% 2.998,200.00 1.212% 181,700.00
07/18/2012 2,400,000.00 0.950% 2,400,000.00 0.950% 90,630.00
N/A 248,000.00 0.750% 248,000.00 0.750% 4,749.36
N/A 4,000.000.00 0.5% STEP 4,000,000.00 1.000% 119.888.89
03/28/2013 1,655,000.00 1.01% STEP 1,655,000.00 1.304% 106,280.88
N/A 249,000.00 0.800% 248,004.00 0.900% 8,953.05
02/27/2014 3,000,000.00 0.550% 3,002,700.00 0.518% 43,545.83
N/A 248,000.00 0.700% 247,628.00 0.750% 5,589.51
05/10/2013 5,000,000.00 1.300% 5,000,000.00 1.300% 325,000.00
N/A 2,630,000.00 1.500% 2.696.944.02 0.750% 68,939.31
N/A 248,000.00 0.850% 247.008.00 0.950% 9,429.77
02/21/2013 4,000,000.00 1.100% 3.988,000.00 1.165% 221,000.00
N/A 249,000.00 0.800% 248,004.00 0.900% 8,974.88
05/24/2013 5,000,000.00 1.200% 4,995,000.00 1.221% 305,000.00
05/30/2014 5,000,000.00 1.200% 5,000,000.00 1.200% 300,000.00
N/A 249,000.00 0.900% 248,502.00 0.950% 9,468.06
02/28/2014 2,050,000.00 1.150% 2,050,000.00 1.150% 112,243.19
05/29/2013 5,000,000.00 0.650% 5,000,000.00 0.650% 97,500.00
N/A 248,000.00 0.750% 248,000.00 0.750% 4,652.55
N/A 249,000.00 0.700% 249,000.00 0.700% 3,486.00
N/A 248,000.00 0.650% 248,000.00 0.650% 3,224.00
N/A 5,000,000.00 2.250% 5,285,278.17 0.700% 135,034.33
06/14/2013 3,900,000.00 0.710% 3.900,000.00 0.710% 96,915.00
N/A 4,000,000.00 2.000% 4,186,600.00 0.660% 95,622.22
08/01/2012 3,000,000.00 0.770% 3,000,000.00 0.770% 84,507.50
05/17/2013 4,000,000.00 0.5% STEP 3,999,800.00 1.102% 164,422.22
05/23/2013 2,000,000.00 1.000% 1,999,000.00 1.011% 90,277.78
Investment
Return
2,059
2,273
1,178
4,294
254,
254,
3,318,
3,798,
255,
4,233
3,179
2,490
252
240.00
777.78
,102.78
,083.33
,503.55
,402.96
,675.00
,187.50
,520.35
,600.00
900.00
630.00
,749.36
4,119
1,761
256
3,046
253
5,325,
2.765,
256,
4,209,
256,
5,300.
5,300
257
2,162
5,097,
.888.89
,280.88
,957.05
,245.83
,217.51
,000.00
,883.33
,437.77
,000.00
,978.88
,000.00
,000.00
,970.06
,243.19
500.00
252,652.55
252,486.00
251.224.00
5,420,312.50
3,996,915.00
4,282,222.22
3.084,507.50
4,164,222.22
2,089,277.78
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City of Carisbad
TRANSACTIONS FOR PERIOD:
04/01/12 TO 06/30/12 4TH QUARTER 2011-2012
Trans Investment Call Par Amount Return Investment
Date Date Type Security Date Value Coupon (Cost) Rate Interest Return
06/01/2012 06/04/2012 FA FNMA 05/17/2013 4,000,000.00 0.625% STEP 4,000,000.00 1.566% 313,819.44 4,313,819.44
05/16/2012 06/07/2012 FA FHLMC 06/07/2013 4,000,000.00 1.300% 4,000,000.00 1.300% 260.000.00 4,260,000.00
06/26/2012 06/27/2012 FA FFCB 06/21/2013 5,000,000.00 0.800% 5,002,500.00 0.786% 146.833.33 5,149,333.33
05/24/2012 06/05/2012 CN HSBC BANK USA N/A 5,000,000.00 1.925% FLOAT 5,000,000.00 1.507% 380,000.00 5,380,000.00
TOTAL FOURTH QUARTER 2011-2012 104,618,000.00 106,345,979.94 1.039% 4,762.968.60 111,108,948.54
MATURITIES
APRIL 05/21/2007 FA FFCB 2,000,000.00 4.875% 1,987,880.00 5.015% 489,057.50 2,476,937.50
04/21/2009 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 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 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
MAY 07/25/2007 FA TVA N/A 2,000,000.00 6.790% 2,130,980.00 5.235% 524,632.22 2,655,612.22
10/19/2009 FA TVA N/A 3,000,000.00 6.790% 3,399,498.48 1.534% 128,989.85 3,528,488.33
02/18/2009 FN FICO N/A 1,000,000.00 0.000% 916.713.56 2.710% 83,286.44 1,000,000.00
02/25/2009 FN FICO N/A 2,000,000.00 0.000% 1.826,280.00 2.850% 173,720.00 2,000,000.00
03/02/2009 FN FICO N/A 2,000,000.00 0.000% 1,818,680.00 3.000% 181.320.00 2,000,000.00
JUNE 07/25/2007 FA FHLB N/A 1,000,000.00 5.375% 1,005,040.00 5.255% 256,692.64 1,261,732.64
07/25/2007 FA FHLB N/A 1,000,000.00 5.375% 1,005.254.43 5.250% 256,478.21 1,261,732.64
07/15/2008 FA FHLB N/A 3,000,000.00 4.375% 3.050,958.11 3.900% 460,552.31 3,511,510.42
05/20/2010 FA FHLB N/A 5,000,000.00 1.375% 5,036,422.30 1.015% 104,515.20 5,140,937.50
10/20/2009 FA FFCB N/A 3,000.000.00 2.125% 3,049,023.21 1.496% 120,622.62 3,169,645.83
11/25/2009 FA FFCB N/A 2,000,000.00 5.450% 2,210,347.28 1.280% 70,024.94 2,280,372.22
08/31/2007 CN GENERAL ELECTRIC N/A 1,000,000.00 6.000% 1,033,437.31 5.200% 253,896.02 1,287,333.33
05/30/2008 CN GENERAL ELECTRIC N/A 1,000,000.00 6.000% 1,052,958.51 4.550% 189,541.49 1,242.500.00
02/08/2010 CN GENERAL ELECTRIC N/A 2,000,000.00 6.000% 2,174,860.00 2.167% 107,473.33 2,282.333.33
TOTAL FOURTH QUARTER 2011-2012 35,000,000.00 35,760,237.14 2.903% 3,874,829.37 39,635.066.51
CALLS
APRIL 07/20/2011 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 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 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 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 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 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 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
City of Carisbad
TRANSACTIONS FOR PERIOD:
04/01/12 TO 06/30/12 4TH QUARTER 2011-2012
Trans Investment Call Par Date Date Type Securitv Date Value
MAY 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
JUNE
2,235,000.00
06/29/2011 FA FHLMC 06/29/2012 2,000,000.00
06/29/2011 FA FFCB 06/29/2012 2,000,000.00
09/09/2011 FA FHLB 06/09/2012 5,000,000.00
09/29/2011 FA FNMA 06/28/2012 5,000,000.00
06/29/2011 FA FNMA 06/29/2012 4,000,000.00
06/29/2011 FA FHLMC 06/29/2012 2,000,000.00
Coupon
2.550%
1.350%
1.800%
2.000%
2.000%
2.000%
1.250%
1.600%
0.625% STEP
1.25% STEP
1.5% STEP
2.100%
Amount
(Cost)
2,000,000.00
4,962,500.00
5,000,000.00
5,039,000.00
2.000,000.00
2,235,000.00
2.000.000.00
2.000,000.00
4,990,000.00
5,000,000.00
4,000,000.00
2,000,000.00
Return
Rate
2.550%
1.506%
1.800%
1.809%
2.000%
2.000%
1.250%
1.600%
1.988%
1.445%
2.250%
2.100%
Interest
254,858.33
375,000.00
450.000.00
389.611.11
200,000.00
190,099.17
87,500.00
128,000.00
503.750.00
362.326.39
450,000.00
210,000.00
Investment
Return
2,254,858.33
5,337,500.00
5,450,000.00
5,428,611.11
2,200,000.00
2,425,099.17
2,087,500.00
2,128,000.00
5,493,750.00
5,362,326.39
4,450,000.00
2,210,000.00
TOTAL FOURTH QUARTER 2011-2012 64,235,000.00 64,252,750.00 1.911% 5,915,020.00 70,167.770.00
INVESTMENT REPORT
AS OF JUNE 30,2012
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
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
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
10/20/2009 FA FHLMC 4.0% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% 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% NON-CALL 5,000,000.00 5,061,150.00 0.500% 49,631.25 5,110,781.25 720
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INVESTMENT REPORT
AS OF JUNE 30,2012
INVESTMENT
DATE
04/15/2010
10/19/2009
01/20/2009
02/12/2010
09/17/2010
03/24/2010
10/20/2009
08/01/2011
03/24/2010
09/08/2010
03/24/2010
03/24/2010
11/07/2011
01/23/2012
05/08/2012
06/04/2010
02/23/2012
05/29/2012
07/27/2011
03/30/2011
04/04/2011
09/14/2010
09/21/2010
10/28/2010
06/04/2012
06/20/2012
06/04/2012
03/01/2012
06/01/2012
02/22/2012
02/24/2012
06/20/2012
06/27/2012
04/27/2012
04/27/2011
08/15/2011
08/22/2011
08/29/2011
10/06/2011
10/11/2011
10/12/2011
TYPE
PAR INVESTED RETURN INVESTMENT TERM TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
FA FHLB 2.00% NON-CALL 2,000,000.00 2,000,000.00 2.000% 140.000.00 2,140,000.00 1,279
FA FFCB 5.350% NON-CALL 2,000,000.00 2,235,072.36 2.264% 193.522.08 2,428,594.44 1,463
FA FHLB 3.125% NON-CALL 2,000,000.00 2,047,941.08 2.600% 258,135.31 2,306,076.39 1,788
FA FFCB 3.00% NON-CALL 1,000,000.00 1,028.536.49 2.250% 91,463.51 1,120,000.00 1,461
FA FNMA 1.3% CALL 3/17/11 2,000,000.00 2,000,000.00 1.300% 91,000.00 2,091,000.00 1,277
FA FHLB 2.5% NON-CALL 3,000,000.00 3,016,423.52 2.363% 300,034.82 3,316,458.34 1,542
FA FFCB 4.375% NON-CALL 3,000,000.00 3,234,480.00 2.595% 381,665.83 3,616,145.83 1,714
FA FFCB 1.0% CALL 8/1/12 CONT 5,000,000.00 5,000,000.00 1.000% 150,000.00 5,150.000.00 1,096
FA FHLB 5.5% NON-CALL 3,000,000.00 3,395,255.41 2.323% 328,452.92 3,723,708.33 1,603
FA FNMA 1.50% CALL 3/8/11 2,000,000.00 2,000,000.00 1.500% 120,000.00 2,120,000.00 1.461
FA FHLB 5.25% NON-CALL 2,000,000.00 2,231,960.00 2.490% 237,040.00 2,469,000.00 1,633
FA FFCB 3.0% NON-CALL 2,000,000.00 2,047,400.80 2.440% 222,265.87 2.269.666.67 1,643
FA FNMA .80% CALL 10/24/12 3,000,000.00 3,000,937.50 0.789% 70,195.83 3,071,133.33 1,082
FA FHLB .52% NON-CALL 5,000,000.00 5,000,000.00 0.520% 78,000.00 5,078,000.00 1,096
FA FNMA .55% CALL 2/27/14 ONE TIME 3,000,000.00 3,002,700.00 0.518% 43,545.83 3,046,245.83 1,025
FA FNMA 2.00% CALL 10/29/12 STEP 2,000,000.00 2,018,771.34 2.780% 277,339.77 2,296,111.11 1,790
FA FHLB .55% NON-CALL 5,000,000.00 5,000,000.00 0.550% 88,763.89 5,088,763.89 1,177
FA FNMA .65% CALL 5/29/13 ONE TIME 5,000,000.00 5,000,000.00 0.650% 97,500.00 5,097,500.00 1,095
FA FFCB 1.550% CALL 7/2712 CONT 3,500,000.00 3,500,000.00 1.550% 217,000.00 3,717,000.00 1,461
FA FHLB 2.0% NON-CALL 2,000.000.00 1,999,000.00 2.012% 174,333.33 2,173,333.33 1,583
FA FHLB 2.0% NON-CALL 2.000.000.00 2,000,000.00 2.000% 176,000.00 2,176,000.00 1,607
FA FHLB 1.74% CALL 9/14/12 2.000.000.00 2,000,000.00 1.740% 174,000.00 2,174,000.00 1,826
FA FNMA 2.0% CALL 3/21/11 2,000,000.00 2,000,000.00 2.000% 200,000.00 2,200,000.00 1,826
FA FNMA 1.50% CALL 4/28/11 2,000,000.00 1,999,000.00 1.510% 151,000.00 2,150,000.00 1,826
FA FNMA .71% CALL 6/4/13 QRTLY 3,900,000.00 3,900,000.00 0.710% 96,915.00 3,996,915.00 1,278
FA FNMA 2.00% NON-CALL 4,000,000.00 4,186,600.00 0.660% 95,622.22 4,282,222.22 1,288
FA FFCB .77% CALL 8/1/12 CONT 3,000,000.00 3,000,000.00 0.770% 84,507.50 3,084,507.50 1,337
FA FNMA .50% QRTLY CALL STEP 3,000,000.00 2,999,700.00 1.317% 156,841.67 3,156,541.67 1,439
FA FNMA .50% CALL 5/17/13 QRTLY STEP 4,000,000.00 3,999,800.00 1.102% 164,422.22 4,164,222.22 1,356
FA FFCB .85% CALL 2/22/13 5,000,000.00 5,000,000.00 0.850% 170,000.00 5.170,000.00 1,461
FA FHLMC .85% ONE CALL 2/24/14 3,000,000.00 2,995,500.00 0.890% 106,500.00 3,102,000.00 1,461
FA FNMA 2.25% NON-CALL 5,000,000.00 5,285,278.17 0.700% 135,034.33 5,420,312.50 1,364
FA FFCB .80% CALL 6/21/13 CONTINOUS 5,000,000.00 5,002,500.00 0.786% 146,833.33 5,149,333.33 1,363
FA FFCB .95% CALL 7/18/12 2,400,000.00 2,400,000.00 0.950% 90,630.00 2,490,630.00 1,452
FA FHLB 2.5% NON-CALL 2,000,000.00 2,000.000.00 2.500% 250,000.00 2,250,000.00 1,827
FA FFCB 1.75% CALL 8/15/12 CONT 2,000,000.00 2.000,000.00 1.750% 175,000.00 2,175,000.00 1,827
FA FFCB 1.5% CALL 8/22/12 CONT 2,000,000.00 2,000,000.00 1.500% 150,000.00 2,150,000.00 1,827
FA FHLB 1.0% 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
FA FFCB 1.30% NON-CALL 5,000,000.00 5,000,000.00 1.300% 325,000.00 5,325,000.00 1,827
FA FFCB 1.370% CALL 10/11/12 CONT 5,000,000.00 5,000,000.00 1.370% 342,500.00 5,342,500.00 1,827
FA FNMA 1.25% CALL 4/12/12 QRTLY 4,000,000.00 3.990,400.00 1.250% 259,600.00 4,250,000.00 1,827
INVESTMENT REPORT
AS OF JUNE 30,2012
INVESTMENT
DATE
10/24/2011
10/26/2011
11/23/2011
06/06/2012
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
06/04/2012
05/24/2012
05/30/2012
06/07/2012
03/02/2009
03/09/2010
10/04/2011
01/18/2011
11/24/2010
03/09/2011
07/25/2011
11/10/2008
11/12/2008
TYPE
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FA
FN
FN
FN
FN
FN
FN
FN
TR
TR
SECURITY
FNMA 1.70% CALL 10/24/12 QRTLY
FNMA 1.125% CALL 10/26/12 QRTLY STEP
FNMA 1.25% STEP QRTLY CALLS
FNMA 1.0% CALL 5/23/13 QRTLY
FNMA 1.65% QRTLY CALLS
FNMA 1.30% QRTLY CALL 1/30/13
FNMA .75% ANNUAL CALL STEP
FNMA .75% QRTLY CALL 2/6/13 STEP
FNMA 1.10% QRTLY CALL
FNMA 1.10% QRTLY CALL
FNMA 1.150% ONE CALL 2/28/14
FNMA 1.375% QRTLY CALL
FNMA 1.2% QRTLY CALL
FNMA 1.150% ONE CALL 3/13/14
FNMA 1.01% STEP CALL 3/28/13 ANNUAL
FFCB 1.20% CALL 4/25/13 CONTINUOUS
FNMA 1.30% CALL 5/10/13 QRTLY
FNMA .625% CALL 5/17/13 ANNUAL STEP
FHLMC 1.2% CALL 5/24/13 QRTLY
FHLMC 1.2% CALL 5/30/14 QRTLY
FHLMC 1.30% CALL 6/7/13 QRTLY
FICO 0.0% NON-CALL
FICO 0.0% NON-CALL
TENNESSEE VALLEY AUTHORITY 0.00% NON-CALL
FICO 0.00% NON-CALL
FNMAO% NON-CALL
FNMA .00% NON-CALL
FNMA 00% NON-CALL
SUB-TOTAL 16,376,000.00
Federal Investments Total 310,915,000.00
US TREASURY 3.125%
US TREASURY 4.0%
SUB-TOTAL
1,000,000.00
1,000,000.00
2,000,000.00
15,656,744.63
314,141,857.36
1,031,328.00
1,030,781.25
2,062,109.25
1.203%
2.430%
2.452%
2.441%
1,034,235.74
20,396,788.09
118,792.86
121,777.13
240,569.99
16,690,980.37
334,538,645.45
1,150,120.86
1,152,558.38
2,302,679.24
PAR INVESTED RETURN INVESTMENT TERM
VALUE AMOUNT RATE INTEREST RETURN (Davs)
5,000,000.00 5,000,000.00 1.700% 425,000.00 5,425,000.00 1,827
5,000,000.00 5,000,000.00 1.810% 462,500.00 5,462,500.00 1,827
5,000,000.00 5,000,000.00 1.688% 425,000.00 5,425,000.00 1,827
2,000.000.00 1,999,000.00 1.011% 90,277.78 2,089,277.78 1,631
5,000,000.00 5,030,800.00 1.519% 372,304.17 5,403,104.17 1,785
5,000,000.00 5,000,000.00 1.300% 325,000.00 5,325,000.00 1,827
4,000,000.00 3,998,000.00 1.528% 296,083.33 4,294.083.33 1,755
5,000,000.00 5,000,000.00 1.682% 425,000.00 5.425.000.00 1,827
5,000,000.00 4,985,000.00 1.162% 290.000.00 5.275.000.00 1,827
4,000,000.00 3,988,000.00 1.165% 221.000.00 4.209.000.00 1,737
2,050,000.00 2,050,000.00 1.150% 112,243.19 2,162,243.19 1,741
5,000,000.00 5,000,000.00 1.375% 343,750.00 5,343.750.00 1,826
4,000,000.00 4,000,000.00 1.200% 233,600.00 4,233,600.00 1,777
3,950,000.00 3,942,100.00 1.191% 235,025.00 4,177,125.00 1,826
1,655,000.00 1,655,000.00 1.304% 106,280.88 1,761,280.88 1,790
3,000,000.00 2,998,200.00 1.200% 181,700.00 3.179.900.00 1,825
5,000,000.00 5,000,000.00 1.300% 325,000.00 5,325.000.00 1,826
4,000,000.00 4,000,000.00 1.566% 313,819.44 4.313,819.44 1,808
5.000,000.00 4,995,000.00 1.221% 305.000.00 5,300,000.00 1,826
5,000,000.00 5,000,000.00 1.200% 300,000.00 5,300,000.00 1,826
4,000,000.00 4,000,000.00 1.300% 260,000.00 4,260,000.00 1,826
94,539,000.00 298,485,112.73 1.530% 19,362,552.35 317,847,665.08 -
2,000,000.00 1,793,820.00 3.050% 206,180.00 2,000,000.00 1,314
2,000,000.00 1,882,080.00 1.850% 117,920.00 2,000,000.00 1,206
4,143,000.00 4,099,415.64 0.510% 87,168.72 4,186,584.36 759
1,076,000.00 1,027,655.32 1.370% 96,689.36 1,124,344.68 1,228
2,000,000.00 1,922,260.00 1.100% 155,480.00 2,077.740.00 1,319
2,657,000.00 2,511,688.67 1.700% 290,622.66 2.802.311.33 1,214
2,500,000.00 2,419,825.00 1.020% 80,175.00 2.500,000.00 1,171
1,173
1,173
1,755
1,783
1,769
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
INVESTMENT
DATE TYPE
08/31/2007 CN
10/31/2007 CN
11/23/2007 CN
01/30/2008 CN
03/18/2011 CN
12/28/2010 CN
04/24/2008 CN
05/07/2008 CN
05/12/2009 CN
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
INVESTMENT REPORT
AS OF JUNE 30,2012
SECURITY
JOHNSON & JOHNSON 5.15% NON-CALL
GENERAL ELECTRIC 5.250% NON-CALL
GENERAL ELECTRIC 5.250% NON-CALL
WELLS FARGO 5.250% NON-CALL
MET LIFE OF CONNECTICUT 5.01% NON-CALL
ROYAL BANK OF CANADA 2.25% NON-CALL
MET LIFE GLOBAL FUNDING 5.125% NON-CALL
MET LIFE GLOBAL FUNDING 5.125% NON-CALL
WAL-MART 4.250% NON-CALL
ALLSTATE LIFE 5.375% NON-CALL
NEW YORK LIFE 4.650% NON-CALL
NEW YORK LIFE 4.650% NON-CALL
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
PAR INVESTED RETURN INVESTMENT TERM
VALUE AMOUNT RATE INTEREST RETURN (Davs)
1,000,000.00 1,017,457.28 4.750% 237,753.83 1,255,211.11 1,811
2,000,000.00 2,036,663.70 4.830% 484,836.30 2,521,500.00 1,815
2,000,000.00 2,065,283.50 4.500% 449,799.83 2,515.083.33 1,792
1,000,000.00 1,042,814.41 4.240% 205,539.76 1,248,354.17 1,728
2,000.000.00 2,121,360.00 1.561% 58,165.00 2,179,525.00 657
2,000,000.00 2,047,930.00 1.150% 51,695.00 2,099,625.00 808
1,000,000.00 1,003,232.48 5.050% 251,024.46 1,254,256.94 1,812
2,000,000.00 2,019.402.04 4.900% 485,410.46 2,504,812.50 1,799
1,000,000.00 1,047,829.91 2.950% 118,982.59 1.166.812.50 1,434
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% 58,733.33 2,208,733.33 818
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% 154,062.17 1,849,309.90 1,533
INVESTMENT REPORT
AS OF JUNE 30,2012
INVESTMENT PAR
DATE TYPE SECURITY VALUE
12/28/2011 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 2,000,000.00
01/25/2012 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 5,000,000.00
03/09/2012 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 3,000,000.00
02/08/2012 CN GENERAL ELECTRIC 1.55% NON-CALL FLOATER 5,000.000.00
05/06/2011 CN MASS MUTUAL GLOB 3.125% NON-CALL 1,000,000.00
05/16/2011 CN GENERAL ELECTRIC 2.95% NON-CALL 2,000.000.00
06/17/2011 CN GENERAL ELECTRIC 2.95% NON-CALL 2,000,000.00
09/12/2011 CN GENERAL ELECTRIC 2.95% NON-CALL 1,400,000.00
10/27/2011 CN PROCTERS GAMBLE 1.45% NON-CALL 5,000,000.00
10/11/2011 CN BERKSHIRE HATHAWAY 2.20% NON-CALL 5,000,000.00
09/22/2011 CN TOYOTA 2.0% NON-CALL 5,000,000.00
11/10/2011 CN NEW YORK LIFE 2.45% NON-CALL 3,55o!oOO.OO
01/31/2012 CN BERSHIRE HATHAWAY 1.90% NON-CALL 5,000,000.00
01/31/2012 CN HSBC BANK USA 2.5% FLOATING RATE 5,000,000.00
03/05/2012 CN BERSHIRE HATHAWAY 1.90% NON-CALL 2,850,000.00
02/16/2012 CN WESTPAC BANKING CORP 2.3% NON-CALL 5,000,000.00
04/18/2012 CN WAL-MART STORES 5.375% NON-CALL 3,000,000.00
06/05/2012 CN HSBC BANK USA 1.925% FLOATER 5,000,000.00
INVESTED
AMOUNT
2,063,239.83
5,189,924.57
3,169,646.15
5,000,000.00
1,024,175.57
2,000,912.32
2,009,952.38
1,427,513.33
5,011,536.25
5,022,855.25
5,023,645.00
3,669,194.08
5,047,739.83
5,000,000.00
2,914,809.00
5,000,000.00
3,568,354.19
5,000,000.00
RETURN
RATE
2.300%
2.120%
1.600%
. 1.390%
3.125%
2.940%
2.840%
2.500%
1.400%
2.100%
1.900%
1.700%
1.700%
1.748%
1.418%
2.300%
1.400%
1.507%
INTEREST
189,017.11
428,999.04
190,249.68
227,500.00
130,164.71
292,940.46
278,819.84
164,875.84
336,463.75
510,033.64
474,410.56
287,655.64
427,260.17
425,000.00
200,676.42
574,680.56
229,833.31
380,000.00
INVESTMENT
RETURN
2,252,256.94
5,618,923.61
3.359,895.83
5,227,500.00
1,154,340.28
2,293,852.78
2,288,772.22
1,592,389.17
5,348.000.00
5,532,888.89
5,498,055.56
3,956,849.72
5,475,000.00
5,425,000.00
3,115,485.42
5,574,680.56
3,798,187.50
5,380,000.00
TERM
mays)
1,475
1,447
1,403
1,461
1,805
1,820
1,788
1,701
1,754
1,770
1,820
1,708
1,827
1,827
1,793
1,826
1,813
1,826
SUB-TOTAL 158,884,000.00 163,622,748.67 1.924% 13,227,502.21 176,850,250.88 1,502
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
06/13/2012 CD SOVEREIGN BANK .65% 248,000.00 248,000.00 0.650% 3,224.00 251,224.00 730
04/16/2012 CD BANK OF GEORGETOWN 1.0% 249,000.00 249,000.00 1.000% 5,402.96 254,402.96 792
06/20/2012 CD FIRST NATL BANK OMAHA NEB .70% 249,000.00 249,000.00 0.700% 3,486.00 252,486.00 730 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 09/23/2011 CD BMW BANK OF NORTH AMERICA 1.35% 248,000.00 248,000.00 1.350% 10,053.17 258,053.17 1.096
04/30/2012 CD STERLING SAVINGS BANK .75% 248,000.00 248,000.00 0.750% 4,749.36 252,749.36 932
INVESTMENT REPORT
AS OF JUNE 30,2012
INVESTMENT
DATE TYPE SECURITY
04/20/2012 CD PLUS INTERNATIONAL .85%
06/08/2012 CD HUNTINGTON NATL BANK .75%
01/11/2012 CD SALLIE MAE BANK 1.35%
01/11/2012 CD BARCLAYS BANK DELAWARE 1.25%
05/09/2012 CD GEORGIA BANK & TRUST .70%
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%
05/04/2012 CD HERITAGE BANK OF COMMERCE .80%
05/18/2012 CD NORTH JERSEY COMMUNITY .85%
05/22/2012 CD STATE BANK & TRUST CO MACON, GA .80%
05/31/2012 CD CRESCENT BANKS TRUST .90%
02/28/2012 CD MERCANTILE BANK OF MICHIGAN .15%
PAR
VALUE
249,000.00
248,000.00
248,000.00
248,000.00
248,000.00
248,000.00
249,000.00
249,000.00
249,000.00
249,000.00
249,000.00
248,000.00
249,000.00
249,000.00
248,000.00
INVESTED
AMOUNT
249,000.00
248,000.00
248,000.00
248,000.00
247,628.00
248,000.00
249,000.00
249,000.00
249.000.00
249,000.00
248,004.00
247.008.00
248.004.00
248.502.00
247,380.00
RETURN
RATE
0.850%
0.750%
1.350%
1.250%
0.750%
0.850%
1.400%
1.250%
1.000%
0.900%
0.900%
0.950%
0.900%
0.950%
1.150%
INTEREST
5,520.35
4,652.55
9,869.73
9,308.49
5,589.51
7,375.11
13,943.96
12,450.00
9,966.87
8,970.06
8,953.05
9,429.77
8,974.88
9,468.06
14,895.62
INVESTMENT
RETURN
254,520.35
252,652.55
257,869.73
257,308.49
253,217.51
255,375.11
262,943.96
261,450.00
258,966.87
257,970.06
256,957.05
256,437.77
256,978.88
257,970.06
262,275.62
TERM
(Davs)
952
913
1,076
1,096
1,097
1,277
1.460
1.461
1,461
1,461
1,459
1,461
1,462
1,461
• 1,827
SUB-TOTAL 8,694,000.00 8,689,526.00 0.839% 268,155.02 8,957,681.02 1,111
0 WELLS FARGO BANK 399,162.00 399,162.00 0.020% 0.22 399,162.22 1
0 CORPORATE CASH MANAGEMENT ACCOUNT 2,890,207.33 2,890,207.33 0.020% 1.58 2,890,208.91 1
o LIBRARY ACCOUNT 475.51 475.51 0.000% -475.51 1
o UNION TRUST 108,268.36 108,268.36 0.000% 0.00 108,268.36 1
0 LAI F WATER DISTRICT 34,607,000.00 34,607.000.00 0.360% 346.07 34,607,346.07 1
0 LAIF PUBLIC IMPROVEMENT CORPORATION 26,567,505.97 26.567,505.97 0.360% 265.68 26,567,771.65 1
o LAIF PUBLIC FINANCING CORPORATION 31,495,199.08 31,495,199.08 0.360% 314.95 31,495,514.03 1
0 LAIF CITY OF CARLSBAD 44,003,857.50 44,003,857.50 0.360% 440.04 44,004.297.54 1
SUB-TOTAL 140,071,675.75 140,071,675.75 0.352% 1,368.54 140.073,044.29
GRAND TOTAL 620,564,675.75 628,587,917.03 1.355% 34,134,383.85 662,722,300.88
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF JUNE 30, 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:
Carlsbad Municipal Water District
Sewer Fund
Solid Waste
Storm Water
Golf Course
Internal Service
Agency Funds
Misc. Special Funds
Total General Ledger Balance **
Reconciling Adjustments (1)
Total Treasurer's Investment Portfolio at Amortized Cost
Total
Total
53,789,129
19,747,099
49,099,438
3,909,225
6,914,600
5,545,487
79,784,964
68,977,428
7,528,152
2,720,893
82,602,931
52,324,293
7,187,635
2,864,138
116,193
80,625,034
51,880,649
0
298,016,416
145,095,190
33,716,820
17,577,001
0
626,911,109
(1,655,934)
625,266,176
(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 7/11/12
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of June 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)
Moody'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 AA3 AA-
MET LIFE OF CONNECTICUT AA3 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 AA3 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
Maturitv Date
Carrying
Value
Market
Value
ALL STATE LIFE Al A+ 04/30/2013 2,003,980 2,080,820
BARCLAYS BANK AA3 A+ 12/15/2015 2,000,000 1,940,460
GENERAL ELECTRIC Al AA+ 05/09/2016 23,391,601 23,513,602
PROTECTIVE LIFE A2 AA-07/15/2012 3,000,000 2,998,890
WELLS FARGO A2 A+ 10/23/2012 1,002,816 1,014,370
* 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 JUNE 30, 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 23,492,605.25 3.74%
HSBC BANK USA 10,000,000.00 1.59%
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 BAN K 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 1.44%
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 1,016,908.69 0.16%
FICO 4,703,555.32 0.75%
FEDERAL FARM CREDIT BANK 63,821,175.98 10.15%
FEDERAL HOME LOAN BANK 68,624,327.24 10.92%
FEDERAL HOME LOAN MORTGAGE CORP 34,734,900.45 5.53%
FEDERAL NATIONAL MORTGAGE ASSOC 137,142,574.01 21.82%
TVA 4,099,415.64 0.65%
U.S.TREASURY 2,062,109.25 0.33%
Total Portfolio $628,587,917.03
* No more than 5% may be invested with a single corporate issuer.
**There are no percentage limits on federal agency issuers. (^0
City of Carlsbad
Bond Proceeds investment Report
June 30, 2012
Fund Type Investments
Stated Int.
Rate
Maturity
Date Par Value Cost Source
Assessment District 03-01 (College/Cannon) Fiscal Agent: BNY Mellon
Project Fund Invesco Prime-Cash Money Market N/A N/A $ 927,125 $ 927,125 Invesco
Reserve Fund BNY Dreyfus Money Market various N/A $ 1,200,421 $ 1,200,421 BNY Mellon
Re-Assessment District 97-01 (Alga Road & College Blvd) Fiscal Agent: US Bank
Imprvmnt Fund - Alga Invesco Prime-Cash Money Market N/A N/A $ 278,139 $ 278,139 Invesco
Assessment District 95-01 (Carlsbad Ranch) Fiscal Agent: BNY Mellon
Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC) 5.83% N/A $ 1,033,569 $ 1,033,569 HSBC Bank of New York
Assessment District 96-01 (Rancho Carrillo) Fiscal Agent: BNY Mellon
Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC) 6.03% 09/02/28 $ 1,292,770 $ 1.292,770 HSBC Bank of New York
Assessment District 02-01 (Poinsettia Lane) Fiscal Agent: BNY Mellon
Improvement Fund Invesco Prime-Cash Money Market N/A N/A $ 4,448,443 $ 4,448,443 Invesco
Reserve Fund BNY Dreyfus Money Market various N/A $ 2,498,393 $ 2,498,393 BNY Mellon
EFJPA Fiscal Agent: BNY Mellon
Reserve Fund AIG Investment Agreement (GIC) 5.36% 08/01/14 $ 953,706 $ 953,706 GIC
Communities Facilities District #3 Improvement Area 1 Fiscal Agent: BNY Mellon
Project Fund Invesco Prime-Cash Money Market N/A N/A $ 1,838,831 $ 1,838,831 Invesco
Reserve Fund BNY Dreyfus Money Market various 09/01/36 $ 777,965 $ 777,965 BNY Mellon
Other BNY Dreyfus Money Market various N/A $ -$ -BNY Mellon
Communities Facilities District #3 Improvement Area 2 Fiscal Agent: BNY Mellon
Reserve Fund BNY Dreyfus Money Market various 09/01/38 $ 1,068,180 $ 1,068,180 BNY Mellon
Other BNY Dreyfus Money Market various N/A $ 86,282 $ 86,282 BNY Mellon
CPFA Golf Course Bonds Fiscal Agent: BNY Mellon
Reserve Fund BNY Mellon (GIC) various N/A $ 1,303,417 $ 1,303,417 BNY Mellon
$ 17,707.241 $ 17,707,241
tfl X ffl H dd H
H:\Long Term DebtVQuarterly Investment Reports\Qtr Inv Rpt.xlsx
City of Carisbad
Summary of Outstanding Housing Loans
As of June 30, 2012
Updated on: 07/18/2012
Borrower Developn)ent Purpose
First date
issued
# of loans
issued
Loans issued by City
to developers/
homeowners
Loans issued by
Developer to
homeowners
# of loans
outstanding
Developer
City loan repaid loan repaid to
to City City
Loan amount
due to City
(recorded as
AR)
Developer loan
amount due to
City (not on City's
books) Type of Loan
Individual homebuyers City-wide (CHAP) Sale 06/28/99 133 $1,680,000 $ 34 ($1,483,394) $ $196,606.14 $ 196,606
Payment deferred IS years. No interest is due
unless home is sokj tiefore 16th year
Individual homebuyers Calavera Hills Sale 10/15/99 5 75,000 150,000 1 (60,000) (120,000) 15,000 30,000 45,000
Payment deferred 30 years. No interest is due
unless home is sold before 31th year
Individual homebuyers Chen7 Tree Walk Sale 06/28/99 42 453,600 452,600 14 (313,200) (283,250) 140,400 169,350 309,750
Payment deferred 30 years. No interest is due
unless home is sokl before 31th year
Individual homebuyers Serrano Sale 05/25/01 90 1,350,000 4,050,000 33 (900,133) (2,610,000) 449,867 1,440,000 1,889,867
Payment deferred 30 years. No interest is due
unless home is sokl before 31th year
Individual homebuyers Rancho Carlsbad Sale 05/20/99 22 752,533 -10 (404,370) -348,163 -348,163 Principal is due when home is sokt
Individual homebuyers Solamar Sale 09/26/88 9 147,726 -1 (135,065) -12,661 -12.661 Principal is due when home is sokl
Catholic Charities Homeless shelter Shelter 09/19/97 1 200,000 -1 --200,000 -200,000 Principal is due when property is sokj
CB Laurel Tree Apartments Laurel Tree Rentals 12/24/98 2 1,134,000 -2 (728,396) -405,604 -405,604
Principal and 3% interest each year for 30 years
when surplus cash is available
CB Housing Partnership Rancho Canillo Rentals 03/05/01 1 1,157,584 -1 --1,157,584 -1,157,584
Principal and 3% interest each year for 55 years
when surplus cash is available
Pacific Vista Las Flores Vista Las Flores Rentals 02/27/01 1 363,948 -1 --363,948 -363,948
Principal and 3% interest each year for 55 years
when surplus cash is available
Poinsettia Housing Assoc Poinsettia Station Rentals 10/21/99 1 920,000 -1 (83,177) -836,823 -836,823
Principal and 3% interest each year for 55 years
when surplus cash is available
Bridge Housing Corp Villa Loma Rentals 11/04/94 2 2,212,000 -0 (2,212,000) ---Principal and 3% interest each year for 15 years
when surplus cash is available
Dove Family Housing La Costa Paloma Rentals 07/15/03 1 2,070,000 -1 (1,341,360) -728,640 -728,640
Principal and 3% interest each year for 55 years
when surplus cash is available
CIC Calavera LP Mariposa Apts Rentals 09/15/04 1 1,060,000 -1 --1,060,000 -1,060,000
Principal and 3% interest each year for 55 years
when surplus cash is available
Individual homebuyers
Mult>erry at
Bressi Ranch Sale 04/29/05 100 1,840,000 19,660,200 100 --1,840,000 19,660,200 21,500,200
Payment deferred 30 years. No interest is due
unless home is sokl before 31th year
Individual homebuyers Village by the Sea Sale 10/28/05 11 220,000 4,087,200 7 --220,000 4,087,200 4,307.200
Payment deferred 30 years. No interest is due
unless home is sold before 31th year
El Camino Family Housing Cassia Heights Rentals 03/07/06 1 1.454,276 -1 --1,454,276 -1,454,276
Principal and 3% interest each year for 55 years
when surplus cash is available
Individual homebuyers Laguna Point Sale 07/06/06 3 210.000 3 -210,000 -210,000
Payment deferred 45 years. No interest is due
unless home is sokl twfore 46th year
Individual homebuyers The Bluffs Sale 06/14/07 8 200,000 8 200,000 -200,000
Payment deferred 30 years. No interest is due
unless home is sold before 31th year
Individual homebuyers Roosevelt Gardens Sale 08/30/07 11 797.539 11 797,539 -797,539
Refer to Agenda Bill 18,569 / Resolution 2006-
131 & AB 19,183 / R2007-255
CIC La Costa Hunter's Point Rentals 08/19/08 1 1.932,000 -1 --1,932,000 -1,932,000 Refer to ABI 8,251 / Resolution 2005-264
Down Payment & Closing
Cost Assistance Various Assistance 06/25/09 13 166,450 13 --166,450 -166,450
Refer to Agenda Bill 19,415 / Resolution 2008-
121
CIC Glen Ridge. LP Glen Ridge Rentals 10/05/09 1 1,014,000 -1 1,014,000 -1,014,000 Refer to Agenda Bill 397 / Resolution 435
Tavarua Senior Apartments,
LP Tavarua Rentals 12/14/11 1 3,223,238 -1 3,223,238 3,223,238 Refer to Agenda Bill 418 / Resolution 475
North County Solutions for
Change Property Acguisition Rentals 06/28/12 1 780,000 -1 -780.000 -780.000 Refer to Agenda Bill 20,936/Resolution 2012-136
462 $ 25,413,894 $ 28,400,000 248 $ (7,661,094) $(3,013,250) $ 17,752,800 $ 25,386,750 $ 43,139,550
During the 4th quarter of FY2011-12, approximately $14,216 in CHAP loan payments were received; issued a $11,750 DPCCA loan; transfen-ed the remaining Village Low-Mod toan balances to the Successor Housing Agency (Fund 133) due to the dissolution of the RDA issued
$764,178 in loans related to the Tavanja development; issued a $780,000 loan to North County Solutions for Change; received a $121,172 principal payment related to the La Costa Paloma development; received a $61,339 principal payment related to the Poinsettia Station
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