HomeMy WebLinkAbout2012-11-06; City Council; 21037; Report on City Investments September 30, 2012CITY OF CARLSBAD - AGENDA BILL
AB# 21.037 REPORT ON CITY INVESTMENTS DEPT. HEACr
MTG. 11/6/12 AS OF SEPTEMBER 30, 2012 CITY ATTY. y^^^
CITY MGR. ^/t-DEPT. TRS
CITY ATTY. y^^^
CITY MGR. ^/t-
RECOMMENDED ACTION:
Accept and file report.
ITEM EXPLANATION:
The City's Investment Policy requires the City Treasurer to report to the City Council on a monthly
basis the status of the City's pooled investment portfolio. A quarterly report is also required for
the investments of bond proceeds held separately. The City's pooled investment portfolio as of
the month ended September 30, 2012 is summarized below.
Pooled Investment Portfolio (Casii and Securities)
Current Month Prior Montli
Par Value 602,622,543 601,752,428
Cost of Investments 610,035,884 609,452,002
Amortized Cost (1) 607,005,404 606,264,055
Market Value (2) 611,955,906 611,368,838
(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 09/30/12.
The equity portion of the various funds in the total portfolio is summarized in the graph below.
Fund balances are restricted for various purposes. See Exhibit 8 for a more detailed breakdown.
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
General
$'
Internal Service .
$34
Agency/Trust $10
Enterprise $148
Special Revenue
Capital Projects $302
Total Treasurer's Investment Portfolio at Amortized Cost
September 30,2012 $607 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WITHDRAWN • OTHER-SEE MINUTES •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 •
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF SEPTEMBER 30. 2012
Pooled Investment Interest Income
Current
Month FYTD
Prior
Month FYTD
Current Month
Income
Cash Income Fiscal
Year-to-Date * 2,706,984 1,932,180 774,804
"The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life
(Years)
Average Yield
To Maturity Modified Duration
July 2012 2.17 1.32% 2.105
August 2012 2.24 1.30% 2.175
September 2012 2.22 1.27% 2.149
All pooled investments have been made in accordance with the City's Investment Policy adopted
January 2, 1985 and last revised August 28, 2012. 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 17,531,563 17,707,241
Cost 17,531,563 17,707,241
EXHIBITS FOR POOLED INVESTMENTS:
1. Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield
2. Investment Portfolio Breakdown Of Maturities
3. Yield Comparison Graph
4. Market Yield Curve
5. Cumulative Cash Income Graph
6. First Quarter Transactions
7. Detailed Investment Report
8. Fund Equity in Pooled Investments
9. Corporate Note and Commercial Paper Ratings
10. Percentage Weightings By Corporate Note Issuer
EXHIBIT FOR INVESTMENTS OF BOND PROCEEDS HELD SEPARATELY:
11. Detailed Investment Report - Quarterly Report
EXHIBIT FOR SUMMARY OF OUTSTANDING HOUSING LOANS:
12. Detail Of Outstanding Housing Loans - Quarterly Report
3
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF SEPTEMBER 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 10,425,714 9,929,817 10,467,148 9,962,325 25,670 0.77 0.78
FN 16,137,172 16,119,215 16,209,868 16,204,279 0 1.20 1.20
CP 0 0 0 0 0 0.00 0.00
TR 2,012,246 2,013,300 2,055,940 2,060,230 15,625 2.44 2.44
FA 261,576,143 273,826,553 264,050,837 276,510.300 1,521,042 1.46 1.48
CN 169,600,585 168,670,743 171,918,569 170,927,275 1,029,138 1.78 1.78
LAIF 143,768,000 132,015,851 143,768,000 132,015,851 115,350 0.36 0.37
CUSTODY 8,686 16,170 8,686 16,170 2 0.00 0.00
SWEEP 2,736,573 3,213,857 2,736,573 3,213,857 156 0.02 0.02
BANKACCT 740,284 458,551 740,284 458,551 0 0.02 0.02
TOTALS $607,005,404 $606,264,055 $611,955,906 $611,368,838 2,706,984 1.27% 1.30%
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 SEPTEMBER 30, 2012
BREAKDOWN OF MATURITIES BY CLASSIFICA TION 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
18,471,020
9,314,052
143,768,000
8,686
2,736,573
740,284
$176,832,434 (1)
29.0%
7 MONTHS TO 1 YE AR
992,000
1,882,080
0
2,062,109
17,673,955
12,395,927
0
0
0
0_
$35,006,072 (1)
5.7%
$211,838,506 (1)
34.7%
1 TO 5 YEARS
9,433,182
11,980,845
0
0
227,405,537
149,377,815
0
0
0
0_
$398,197,378
65.3%
TOTAL % TOTAL
10,425,182
15,656,745
0
2,062,109
263,550,511
171,087,794
143,768,000
8,686
2,736,573
740,284
$610,035,884
100.0%
POLICY: (1) Not less than $133,000,000 to mature within one year. (2/3rds of current year operating budget of $199,430,000.00)
(2) Policy states that not more than 30% of portfolio is to be invested in corporate notes.
1.7%
2.6%
0.0%
0.3%
43.2%
28.1% (2)
23.6%
0.0%
0.5%
0.1%
100.0%
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YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1998 - SEPTEMBER 2012
-^EX-LAIF
^LAIF
IIII 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 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I M I I I I I I I I I I I I I I I M
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MARKET YIELD CURVE
6/30/11,6/30/12, 9/31/12
Market Rates
3Mth 2 Yr 5 Yr 10 Yr
SMth 2 Yr 5 Yr 10 Yr
-^06/30/2011 .01 .46 1.76 3.16
06/30/2012 .07 .25 0.62 1.45
-^-09/30/2012 .09 .23 0.63 1.64
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Cumulative Cash Income
Cumulative
Millions $
14
12
10
8
6
4
2
FY12-13
(September 2012)
Monthly Interest Income
Millions $
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Interest Income --^-Budget -^Actual
8
5
4
2
1
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City of Carlsbad
TRANSACTIONS FOR PERIOD:
07/01/12 TO 09/30/12 1ST QUARTER 2012-2013
Trans Investment Call Par Amount Return
Date Date Type Securitv Date Value Coupon (Cost) Rate Interest
BUYS
JULY
07/02/2012 07/05/2012 FA FHLMC 06/07/2013 1,000,000.00 1.150% 999,750.00 1.155% 56,855.56
07/02/2012 07/09/2012 CN CHEVRON N/A 1,750,000.00 3.950% 1,850,257.50 0.460% 13,798.75
07/11/2012 07/12/2012 FA FNMA 07/11/2014 4,000,000.00 1.100% 4,000,000.00 1.100% 219,877.78
06/27/2012 07/27/2012 CD FLUSHING SAVINGS BANH N/A 248,000.00 0.750% 247,628.00 0.800% 5,951.97
AUGUST
08/01/2012 08/06/2012 CN IBM N/A 5,000,000.00 1.250% 5,077,000.00 0.900% 204,250.00
08/07/2012 08/08/2012 FA FAMCA N/A 5,000,000.00 0.550% 5,011,500.00 0.470% 68,250.00
08/08/2012 08/13/2012 CN IBM N/A 3,500,000.00 0.550% 3,504,305.00 0.500% 43,445.69
07/26/2012 08/14/2012 FA FNMA 08/14/2013 5,000,000.00 1.000% 5,000,000.00 1.000% 250,000.00
08/01/2012 08/15/2012 CD EVERBANK N/A 248,000.00 0.900% 247,008.00 1.000% 9,926.11
08/14/2012 08/16/2012 FA FHLB N/A 4,000,000.00 0.875% 4,000,000.00 0.875% 169,166.67
08/10/2012 08/24/2012 CD FIRST BUSINESS BANK N/A 248,000.00 0.600% 247,578.40 0.600% 5.635.72
08/16/2012 08/24/2012 CD BLC COMMUNITY BANK N/A 249,000.00 0.550% 248,690.24 0.600% 3,739.06
08/09/2012 08/27/2012 FA FNMA 08/27/2013 5,000,000.00 0.520% 5,000,000.00 0.520% 78,000.00
08/22/2012 08/30/2012 CD TRIUMPH BANK N/A 249,000.00 0.500% 249,000.00 0.500% 3,107.41
SEPTEMBER
08/29/2012 09/04/2012 CN GOOGLE N/A 1,000,000.00 2.125% 1,050,940.00 0.730% 27,862.08
09/18/2012 09/21/2012 CD CITIZENS STATE BANK N/A 249,000.00 0.500% 248,751.00 0.550% 2,742.46
09/20/2012 09/26/2012 CD BEAQL BANK USA N/A 247,000.00 0.500% 247,000.00 0.500% 1,136.85
09/20/2012 09/27/2012 FA FNMA 09/27/2013 5,000,000.00 0.7% STEP 5,000,000.00 1.165% 293,750.00
Investment
Return
1,056,605.56
1,864,056.25
4,219,877.78
253,579.97
5,281
5,079
3,547
5,250
256
4,169
253
252
5,078
252
,250.00
,750.00
,750.69
,000.00
,934.11
,166.67
,214.12
,429.30
,000.00
,107.41
1,078,802.08
251,493.46
248,136.85
5,293,750.00
TOTAL FIRST QUARTER 2012-2013 41,988,000.00 42,229,408.14 0.803% 1,457,496.11 43,686,904.25
MATURITIES
JULY
AUGUST
01/20/2010 FA FHLMC N/A 1,000,000.00 5.125% 1,092,760.00 1.320% 34.653.19 1.127.413.19
08/08/2008 FA FFCB N/A 2,000,000.00 3.950% 2,002,900.00 3.910% 310.466.67 2.313.366.67
03/24/2010 FA FHLB N/A 2,000,000.00 1.250% 2,000,352.89 1.243% 58.188.78 2.058.541.67
06/04/2000 FA FHLMC N/A 5,000.000.00 1.125% 5,004,198.09 1.085% 116.583.16 5.120,781.25
07/17/2008 CN PROTECTIVE LIFE N/A 3,000,000.00 5.050% 3,000,000.00 5.050% 605.158.33 3,605,158.33
12/24/2009 FA FNMA N/A 1.037.000.00 5.000% 1,127.519.73 1.567% 44,578.33 1,172,098.06
01/25/2010 FA FAMCA N/A 1,000,000.00 2.100% 1,015,908.69 1.460% 37,466.31 1,053,375.00
01/20/2010 FA FNMA N/A 1,000,000.00 1.750% 1,009,004.81 1.390% 35.717.41 1.044.722.22
03/16/2010 FA FNMA N/A 3,000,000.00 1.750% 3.034,050.00 1.268% 91.950.00 3.126.000.00
01/29/2009 FA FHLB N/A 2,000,000.00 4.625% 2.150.960.00 2.391% 176.901.11 2.327.861.11
12/24/2009 FA FHLB N/A 1,000,000.00 4.625% 1.078.810.00 1.567% 43.367.08 1.122.177.08
06/04/2010 FA FHLB N/A 1,000,000.00 2.400% 1.027.049.96 1.150% 25.683.37 1.052.733.33
06/04/2010 FA FHLB N/A 4,000.000.00 1.100% 4.000.013.10 1.100% 98.253.57 4.098.266.67
08/31/2007 CN JOHNSON & JOHNSON N/A 1,000,000.00 5.150% 1.017.457.28 4.750% 237.753.83 1.255.211.11
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City of Carlsbad
TRANSACTIONS FOR PERIOD:
07/01/12 TO 09/30/12 1ST QUARTER 2012-2013
Trans Investment Call Par Amount Return Investment
Date Date Tvpe Securitv Date Value Coupon (Cost) Rate Interest Return
SEPTEMBER
05/05/2008 FA FHLB N/A 1.175.000.00 5.000% 1,238,814.19 3.640% 192,237.89 1,431,052.08
08/22/2008 FA FHLB N/A 1.000.000.00 4.500% 1,022,730.00 3.889% 160.020.00 1,182,750.00
06/04/2010 FA FHLB N/A 5.000.000.00 2.000% 5,091,850.00 1.180% 135.927.78 5,227,777.78
03/08/2010 FA FHLMC N/A 3.000.000.00 2.125% 3.058,800.00 1.336% 102.877.08 3,161,677.08
10/01/2009 FA FFCB N/A 1.000.000.00 1.800% 1.003.470.00 1.680% 50.180.00 1,053,650.00
11/25/2009 FA FFCB N/A 3,000.000.00 1.800% 3.032.750.01 1.405% 120,099.99 3,152,850.00
05/11/2009 FA FHLMC N/A 1,000,000.00 3.875% 1.063.510.00 1.928% 67,701.81 1,131,211.81
TOTAL FIRST QUARTER 2012-2013 43,212,000.00 44.072.908.75 1.921% 2,745,765.69 46,818,674.44
CALLS
JULY
09/23/2011 10/12/2011 FA FNMA 07/12/2012 4,000,000.00 1.250% 3.990,400.00 1.300% 259,600.00 4.250.000.00
07/19/2011 07/24/2011 FA FFCB 07/27/2012 3,500,000.00 1.550% 3,500.000.00 1.550% 217,000.00 3,717,000.00
04/26/2012 04/27/2012 FA FFCB 07/30/2012 2,400,000.00 0.950% 2,400,000.00 0.950% 90,630.00 2,490,630.00
AUGUST
07/29/2011 08/01/2011 FA FFCB 08/01/2012 5,000,000.00 1.000% 5,000,000.00 1.000% 150,000.00 5,150,000.00
08/09/2011 08/15/2011 FA FFCB 08/15/2012 2,000,000.00 1.750% 2,000,000.00 1.750% 175,000.00 2,175.000.00
08/12/2011 08/22/2011 FA FFCB 08/22/2012 2.000,000.00 1.500% 2,000.000.00 1.500% 150,000.00 2.150.000.00
08/24/2011 08/26/2011 FA FNMA 08/24/2012 3.000.000.00 1%STEP 3.000.000.00 1.735% 262,083.33 3.262.083.33
SEPTEMBER
09/14/2010 09/14/2012 FA FHLB 09/14/2012 2.000,000.00 1.740% 2,000.000.00 1.740% 174.000.00 2.174,000.00
TOTAL FIRST QUARTER 2012-2013 23,900.000.00 23,890,400.00 1.385% 1,478.313.33 25,368,713.33
INVESTMENT REPORT
AS OF SEPTEMBER 30,2012
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
04/15/2010 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
10/19/2009 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
01/20/2009 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
02/12/2010 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
09/17/2010 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
03/24/2010 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
10/20/2009 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
03/24/2010 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
09/08/2010 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
03/24/2010 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
03/24/2010 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
11/07/2011 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
01/23/2012 FA FHLB .52% NON-CALL 5,000,000.00 5,000,000.00 0.520% 78,000.00 5,078,000.00 1,096
05/08/2012 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
06/04/2010 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
02/23/2012 FA FHLB .55% NON-CALL 5,000,000.00 5,000,000.00 0.550% 88,763.89 5,088,763.89 1,177
05/29/2012 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
08/08/2012 FA FAMCA .55% NON-CALL 5,000,000.00 5,011,500.00 0.470% 68,250.00 5,079,750.00 1,058
03/30/2011 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
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INVESTMENT REPORT
AS OF SEPTEMBER 30,2012
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
08/27/2012 FA FNMA .52% CALL 8/27/13 5,000,000.00 5,000,000.00 0.520% 78,000.00 5,078,000.00 1,095
04/04/2011 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
09/21/2010 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
10/28/2010 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
06/04/2012 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
06/20/2012 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
06/04/2012 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
03/01/2012 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
06/01/2012 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
02/22/2012 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
02/24/2012 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
06/20/2012 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
06/27/2012 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
04/27/2011 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
10/06/2011 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
10/11/2011 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
10/24/2011 FA FNMA 1.70% CALL 10/24/12 QRTLY 5,000,000.00 5,000,000.00 1.700% 425,000.00 5,425,000.00 1,827
10/26/2011 FA FNMA 1.125% CALL 10/26/12 QRTLY STEP 5,000,000.00 5,000,000.00 1.810% 462,500.00 5,462,500.00 1,827
11/23/2011 FA FNMA 1.25% STEP QRTLY CALLS 5,000,000.00 5,000,000.00 1.688% 425,000.00 5,425,000.00 1,827
06/06/2012 FA FNMA 1.0% CALL 5/23/13 QRTLY 2,000,000.00 1,999,000.00 1.011% 90,277.78 2,089,277.78 1,631
01/25/2012 FA FNMA 1.65% QRTLY CALLS 5,000,000.00 5,030,800.00 1.519% 372,304.17 5,403,104.17 1,785
01/30/2012 FA FNMA 1.30% QRTLY CALL 1/30/13 5,000,000.00 5,000,000.00 1.300% 325,000.00 5,325,000.00 1,827
04/11/2012 FA FNMA .75% ANNUAL CALL STEP 4,000,000.00 3,998,000.00 1.528% 296,083.33 4,294,083.33 1,755
02/06/2012 FA FNMA .75% QRTLY CALL 2/6/13 STEP 5,000,000.00 5,000,000.00 1.682% 425,000.00 5,425,000.00 1,827
02/21/2012 FA FNMA 1.10% QRTLY CALL 5,000,000.00 4,985,000.00 1.162% 290,000.00 5,275,000.00 1,827
05/21/2012 FA FNMA 1.10% QRTLY CALL 4,000,000.00 3,988,000.00 1.165% 221,000.00 4,209,000.00 1,737
05/24/2012 FA FNMA 1.150% ONE CALL 2/28/14 2,050,000.00 2,050,000.00 1.150% 112,243.19 2,162,243.19 1,741
03/08/2012 FA FNMA 1.375% QRTLY CALL 5,000,000.00 5,000,000.00 1.375% 343,750.00 5,343,750.00 1,826
04/26/2012 FA FNMA 1.2% QRTLY CALL 4,000,000.00 4,000,000.00 1.200% 233,600.00 4,233,600.00 1,777
03/13/2012 FA FNMA 1.150% ONE CALL 3/13/14 3,950,000.00 3,942,100.00 1.191% 235,025.00 4,177,125.00 1,826
05/03/2012 FA FNMA 1.01% STEP CALL 3/28/13 ANNUAL 1,655,000.00 1,655,000.00 1.304% 106,280.88 1,761,280.88 1,790
04/26/2012 FA FFCB 1.20% CALL 4/25/13 CONTINUOUS 3,000,000.00 2,998,200.00 1.200% 181,700.00 3,179,900.00 1,825
05/10/2012 FA FNMA 1.30% CALL 5/10/13 QRTLY 5,000,000.00 5,000,000.00 1.300% 325,000.00 5,325,000.00 1,826
06/04/2012 FA FNMA .625% CALL 5/17/13 ANNUAL STEP 4,000,000.00 4,000,000.00 1.566% 313,819.44 4,313,819.44 1,808
05/24/2012 FA FHLMC 1.2% CALL 5/24/13 QRTLY 5,000,000.00 4,995,000.00 1.221% 305,000.00 5,300,000.00 1,826
05/30/2012 FA FHLMC 1.2% CALL 5/30/14 QRTLY 5,000,000.00 5,000,000.00 1.200% 300,000.00 5,300,000.00 1,826
06/07/2012 FA FHLMC 1.30% CALL 6/7/13 QRTLY 4,000,000.00 4,000,000.00 1.300% 260,000.00 4,260,000.00 1,826
07/05/2012 FA FHLMC 1.150% CALL 6/7/13 QRTLY 1,000,000.00 999,750.00 1.155% 56,855.56 1,056,605.56 1,798
08/16/2012 FA FHLB .875% NON-CALL 4,000,000.00 4,000,000.00 0.875% 169,166.67 4,169,166.67 1,765
07/12/2012 FA FNMA 1.1% CALL 7/11/14 QRTLY 4,000,000.00 4,000,000.00 1.100% 219,877.78 4,219,877.78 1,825
08/14/2012 FA FNMA 1.0% CALL 8/14/13 QRTLY 5,000,000.00 5,000,000.00 1.000% 250,000.00 5,250,000.00 1,826
09/27/2012 FA FNMA 0.70% CALL 9/27/13 QRTLY STEP 5,000,000.00 5,000,000.00 1.165% 293,750.00 5,293,750.00 1,826
INVESTMENT REPORT
AS OF SEPTEMBER 30,2012
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
SUB-TOTAL 260,427,000.00 263,550,511.26 1.457% 17,117,285.50 280,667,796.76 -
03/02/2009 FN FICOO.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 FICOO.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 276,803,000.00 279,207,255.89 18,151,521.24 297,358,777.13 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
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
05/30/2008 CN 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
05/09/2008 CN NEW YORK LIFE 4.650% NON-CALL 1,000,000.00 1,006,649.66 4.500% 225,850.34 1,232,500.00 1,826
02/11/2011 CN NEW YORK LIFE 4.650% NON-CALL 2,000,000.00 2,150,000.00 1.250% 58,733.33 2,208,733.33 818
12/23/2008 CN BERKSHIRE HATHWWY 4.60% NON-CALL 1,000,000.00 1,023,835.68 4.000% 177,542.10 1,201,377.78 1,604
05/12/2009 CN 3 M 4.375% NON-CALL 2,000,000.00 2,121,417.76 2.850% 251,186.41 2,372,604.17 1,556
07/18/2011 CN GENERAL ELECTRIC 2.10% NON-CALL 2,000,000.00 2,037,760.00 1.320% 65,956.67 2,103,716.67 904
07/09/2012 CN CHEVRON 3.9% NON-CALL 1,750,000.00 1,850,257.50 0.460% 13,798.75 1,864,056.25 602
04/04/2012 CN 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
12/27/2011 CN 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
05/27/2011 CN 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
^ 05/29/2009 CN 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
05/20/2010 CN MICROSOFT 2.95% NON-CALL 2,000,000.00 2,072,820.00 2.005% 164,982.78 2,237,802.78 1,473
10/07/2011 CN METLIFE GLOBAL 5.125% NON-CALL 1,500,000.00 1,625,547.72 1.900% 80,092.90 1,705,640.62 977
INVESTMENT REPORT
AS OF SEPTEMBER 30,2012
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
12/23/2011 CN GENERAL ELECTRIC CAPITAL .696% FLOATING 2,000,000.00 1,914,520.00 2.250% 123,464.31 2,037,984.31 997
10/05/2011 CN PROVEDENCE HEALTH 5.05% CALL @ MAKEWHOLE 2,000,000.00 2,237,929.50 1.000% 63,948.28 2,301,877.78 1,092
04/05/2012 CN BERKSHIRE HATHAWAY 5.50% NON-CALL 2,000,000.00 2,236,460.00 0.700% 37,317.78 2,273,777.78 909
10/28/2011 CN 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
01/17/2012 CN 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
02/01/2012 CN GENERAL ELECTRIC 1.375% FLOATER 5,000,000.00 5,000,000.00 1.375% 206,059.03 5,206,059.03 1,094
08/13/2012 CN IBM CORP .55% NON-CALL 3,500,000.00 3,504,305.00 0.500% 43,445.69 3,547,750.69 907
09/16/2011 CN 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
05/02/2012 CN TOYOTA .50% STEP CALL 4/3/013 QRTLY 4,000,000.00 4,000,000.00 1.000% 119,888.89 4,119,888.89 1,093
02/17/2012 CN 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
10/04/2011 CN 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
04/17/2012 CN PROCTER & GAMBLE 3.150% NON-CALL 3,000,000.00 3,242,427.56 0.720% 76,247.44 3,318,675.00 1,232
02/09/2011 CN 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
05/06/2011 CN 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
10/06/2011 CN 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
05/15/2012 CN WAL-MART 1.50% NON-CALL 2,630,000.00 2,696,944.02 0.750% 68,939.31 2,765,883.33 1,258
02/10/2012 CN PROCTER & GAMBLE 1.80% NON-CALL 2,844,000.00 2,965,410.36 0.650% 71,270.64 3,036,681.00 1,374
12/15/2010 CN 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
12/15/2010 CN 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
04/13/2012 CN 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
10/31/2011 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 1,635,000.00 1,695,247.73 2.200% 154,062.17 1,849,309.90 1,533
12/28/2011 CN MET LIFE 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
01/25/2012 CN 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
03/09/2012 CN 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
02/08/2012 CN 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
05/06/2011 CN 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
05/16/2011 CN 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
06/17/2011 CN 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
09/12/2011 CN 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
09/04/2012 CN GOOGLE 2.125% NON-CALL 1,000,000.00 1,050,940.00 2.125% 6,197.92 1,057,137.92 1,353
10/27/2011 CN 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
10/11/2011 CN 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
09/22/2011 CN TOYOTA 2.0% NON-CALL 5,000,000.00 5,023,645.00 1.900% 474,410.56 5,498,055.56 1,820
11/10/2011 CN NEW YORK LIFE 2.45% NON-CALL 3,550,000.00 3,669,194.08 1.700% 287,655.64 3,956,849.72 1,708
01/31/2012 CN BERSHIRE HATHAWAY 1.90% NON-CALL 5,000,000.00 5,047,739.83 1.700% 427,260.17 5,475,000.00 1,827
01/31/2012 CN HSBC BANK USA 2.5% FLOATING RATE 5,000,000.00 5,000,000.00 1.748% 425,000.00 5,425,000.00 1,827
03/05/2012 CN 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
08/06/2012 CN IBM CORP 1.250% NON-CALL 5,000,000.00 5,077,000.00 0.900% 204,250.00 5,281,250.00 1,645
02/16/2012 CN 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
04/18/2012 CN 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
06/05/2012 CN HSBC BANK USA 1.925% FLOATER 5,000,000.00 5,000,000.00 1.507% 380,000.00 5,380,000.00 1,826
INVESTMENT REPORT
AS OF SEPTEMBER 30,2012
/ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
SUB-TOTAL 166,134,000.00 171,087,793.89 1.778% 12,652,282.41 183,740,076.30 1,479
09/20/2012 CD BEAL BANK USA .50% 247,000.00 247,000.00 0.500% 1,136.85 248,136.85
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
09/21/2012 CD CITIZENS STATE BANK .50% 249,000.00 248,751.00 0.550% 2,742.46 251,493.46 731
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
04/20/2012 CD PLUS INTERNATIONAL .85% 249,000.00 249,000.00 0.850% 5,520.35 254,520.35 952
06/08/2012 CD HUNTINGTON NATL BANK .75% 248,000.00 248,000.00 0.750% 4,652.55 252,652.55 913
01/11/2012 CD SALLIE MAE BANK 1.35% 248,000.00 248,000.00 1.350% 9,869.73 257,869.73 1,076
01/11/2012 CD BARCLAYS BANK DELAWARE 1.25% 248,000.00 248,000.00 1.250% 9,308.49 257,308.49 1,096
08/24/2012 CD BLC COMMUNITY BANK .50% 249,000.00 248,690.24 0.550% 3,427.40 252,117.64 914
08/30/2012 CD TRIUMPH BANK .50% 249,000.00 249,000.00 0.500% 3,107.41 252,107.41 911 05/09/2012 CD GEORGIA BANK & TRUST .70% 248,000.00 247,628.00 0.750% 5,589.51 253,217.51 1,097
01/23/2012 CD LCA BANK CORPORATION .85% 248,000.00 248,000.00 0.850% 7,375.11 255,375.11 1,277
07/27/2012 CD FLUSHING SAVINGS BANK.75% 248,000.00 247,628.00 0.800% 5,951.97 253,579.97 1,095 09/15/2011 CD BANK OF THE WEST 1.4% 249,000.00 249,000.00 1.400% 13,943.96 262,943.96 1,460
12/02/2011 CD MIDLAND STATES BANK 1.25% 249,000.00 249,000.00 1.250% 12,450.00 261,450.00 1,461 01/25/2012 CD NATIONAL REPUBLIC BANK 1.0% 249,000.00 249,000.00 1.000% 9,966.87 258,966.87 1,461 02/10/2012 CD CARDINAL BANK MCLEAN VA .90% 249,000.00 249,000.00 0.900% 8,970.06 257,970.06 1,461
08/24/2012 CD FIRST BUSINESS BANK .60% 248,000.00 247,578.40 0.600% 5,635.72 253,214.12 1,279
05/04/2012 CD HERITAGE BANK OF COMMERCE .80% 249,000.00 248,004.00 0.900% 8,953.05 256,957.05 1,459
05/18/2012 CD NORTH JERSEY COMMUNITY .85% 248,000.00 247,008.00 0.950% 9,429.77 256,437.77 1,461
INVESTMENT REPORT
AS OF SEPTEMBER 30,2012
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
05/22/2012 CD STATE BANK & TRUST CO MACON, GA .80% 249,000.00 248,004.00 0.900% 8,974.88 256,978.88 1,462
05/31/2012 CD CRESCENT BANK & TRUST .90% 249,000.00 248,502.00 0.950% 9,468.06 257,970.06 1,461
08/15/2012 CD EVERBANK .90% 248,000.00 247,008.00 0.900% 9,926.11 256,934.11 1,461
02/28/2012 CD MERCANTILE BANK OF MICHIGAN 1.15% 248,000.00 247,380.00 1.150% 14,895.62 262,275.62 1,827
SUB-TOTAL 10,432,000.00 10,425,181.64 0.768% 300,082.94 10,725,264.58 1,095
0 WELLS FARGO BANK 739,133.00 739,133.00 0.020% 0.41 739,133.41
0 CORPORATE CASH MANAGEMENT ACCOUNT 2,736,572.51 2,736,572.51 0.020% 1.50 2,736,574.01 1
0 LIBRARY ACCOUNT 1,151.38 1,151.38 0.000% -1,151.38 1
0 UNION TRUST 8,686.25 8,686.25 0.000% 0.00 8,686.25 1
0 LAI F WATER DISTRICT 35,188,000.00 35,188,000.00 0.370% 361.65 35,188,361.65 1
0 LAIF PUBLIC IMPROVEMENT CORPORATION 33,000,000.00 33,000,000.00 0.370% 339.17 33,000,339.17 1
0 LAIF PUBLIC FINANCING CORPORATION 32,248,000.00 32,248,000.00 0.370% 331.44 32,248,331.44 1
0 LAIF CITY OF CARLSBAD 43,332,000.00 43,332,000.00 0.370% 445.36 43,332,445.36
SUB-TOTAL 147,253,543.14 147,253,543.14 0.362% 1,479.52 147,255,022.66
GRAND TOTAL 602,622,543.14 610,035,883.81 1.268% 31,345,936.10 641,381,819.91
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF SEPTEMBER 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 (see Trust Funds)
other Capital Construction
Enterprise:
Carlsbad Municipal Water District
Sewer Fund
Solid Waste
Storm Water
Golf Course
Total
Total
Internal Service
Agency Funds
Trust Funds
Total General Ledger Balance
Reconciling Adjustments (1)
Total Treasurer's Investment Portfolio at Amortized Cost
53,711,291
19,807,345
49,663,579
3,921,276
9,389,610
5,543,833
80,912,414
76,489,364
0
2,516,595
86,130,316
51,899,224
7,194,782
3,009,875
176,951
65,475,204
48,015,024
0
301,955,308
148,411,148
34,292,092
2,997,833
7,465,436
608,612,045
(1,606,641)
607,005,404
(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 10/09/12
17
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of September 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+
CHEVRON AA1 AA
GOOGLE INC AA2 AA-
IBM CORP AA3 AA-
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 AA
ROYAL BANK OF CANADA AA3 AA-
3M AA2 AA-
SHELL INTERNATIONAL AA1 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 *
Moodv's S&P
Latest
Maturitv Date
Carrying
Value
Market
Value
ALL STATE LIFE Al A+ 04/30/2013 2,002.782 2,058,060
BARCLAYS BANK A2 A+ 12/15/2015 2,000,000 1,960,600
GENERAL ELECTRIC Al AA+ 05/09/2016 23,388,409 23,599,574
HSBC BANK USA A1 AA-06/05/2017 10,000,000 9,886,500
WELLS FARGO A2 A+ 10/23/2012 1,000,553 1,002,870
* 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.
1^
EXHIBIT 10
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF SEPTEMBER 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 0.33%
BARCLAYS BANK 2,000,000.00 0.33%
BERKSHIRE HATHAWAY 19,421,409.77 3.18%
CHEVRON 1,850,257.50 0.30%
GENERAL ELECTRIC CAP 23,492,605.25 3.85%
GOOGLE 1,050,940.00 0.17%
HSBC BANK USA 10,000,000.00 1.64%
IBM CORP 8,581,305.00 1.41%
MASS MUTUAL 3,607,914.95 0.59%
MERCK & CO 5,498,750.00 0.90%
MET LIFE GLOBAL FUND 22,244,146.45 3.65%
MET LIFE OF CONNECTICUT 2,121,360.00 0.35%
MICROSOFT 2,072,820.00 0.34%
NEW YORK LIFE 11,847,794.90 1.94%
PROTER & GAMBLE 12,367,204.17 2.03%
PROVIDENCE HEALTH 2,237,929.50 0.37%
ROYAL BANK OF CANADA 4,086,150.00 0.67%
3M 2,121,417.76 0.35%
SHELL INTERNATIONAL FIN 5,384,350.00 0.88%
TOYOTA 9,023,645.00 1.48%
WAL-MART 14,011,419.46 2.30%
WELLS FARGO 1,042,814.41 0.17%
WESTPAC BANKING CORP 5,000,000.00 0.82%
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
Investment Cost Percent of Portfolio**
FAMCA 5,011,500.00 0.82%
FICO 4,703,555.32 0.77%
FEDERAL FARM CREDIT BANK 42,882,055.97 7.03%
FEDERAL HOME LOAN BANK 50,013,747.10 8.20%
FEDERAL HOME LOAN MORTGAGE CORP 25,515,382.35 4.18%
FEDERAL NATIONAL MORTGAGE ASSOC 146,981,599.50 24.09%
TVA 4,099,415.64 0.67%
U.S.TREASURY 2,062,109.25 0.34%
Total Portfolio $610,035,883.81
No more than 5% may be invested with a single corporate issuer.
*There are no percentage limits on federal agency issuers. If
City of Carlsbad
Bond Proceeds Investment Report
September 30, 2012
Fund Type Investments
Stated Int. Maturity
Rate Date Par Value Cost Source
Assessment District 03-01 (College/Cannon)
Project Fund Invesco Prime-Cash Money Market
Reserve Fund BNY Dreyfus Money Market
Re-Assessment District 97-01 (Alga Road & College Blvd)
Imprvmnt Fund - Alga Invesco Prime-Cash Money Market
N/A
various
N/A
N/A
N/A
Assessment District 95-01 (Carlsbad Ranch)
Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC) 5.83%
N/A $
N/A $
Assessment District 02-01 (Poinsettia Lane)
Improvement Fund Invesco Prime-Cash Money Market
Reserve Fund BNY Dreyfus Money Market
EFJPA
Reserve Fund AIG Investment Agreement (GIC)
Communities Facilities District #3 Improvement Area 1
Project Fund Invesco Prime-Cash Money Market
Reserve Fund BNY Dreyfus Money Market
Other BNY Dreyfus Money Market
Communities Facilities District #3 Improvement Area 2
Reserve Fund BNY Dreyfus Money Market
Other BNY Dreyfus Money Market
CPFA Golf Course Bonds
Reserve Fund BNY Mellon (GIC)
N/A
various
5.36%
N/A
various
various
various
various
vanous
N/A
N/A
08/01/14 $
N/A
09/01/c
N/A
09/01/3
N/A
N/A
927,172 $
1,200,421 $
278,153 $
862,510 $
Fiscal Agent:
927,172
1,200,421
BNY Mellon
Invesco
BNY Mellon
Assessment District 96-01 (Rancho Carrillo)
Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC) 6.03% 09/02/28 $ 1,292,770 $
Fiscal Agent: US Bank
278,153 Invesco
Fiscal Agent: BNY Mellon
862,510 HSBC Bank of New York
Fiscal Agent: BNY Mellon
1,292,770 HSBC Bank of New York
Fiscal Agent: BNY Mellon
$ 4,448,669 $ 4,448,669 Invesco
$ 2,498,393 $ 2,498,393 BNY Mellon
Fiscal Agent: BNY Mellon
$ 953,706 $ 953,706 GIC
Fiscal Agent: BNY Mellon
$ 1,833,925 $ 1,833,925 Invesco
$ 777,965 $ 777,965 BNY Mellon
$ -$ -BNY Mellon
Fiscal Agent: BNY Mellon
$ 1,068,180 $ 1,068,180 BNY Mellon
$ 86,282 $ 86,282 BNY Mellon
Fiscal Agent: BNY Mellon
$ 1,303,417 $ 1,303,417 BNY Mellon
$ 17,531,563 $ 17,531,563
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H:\Long Tenn DebtVQuarterly Investment Reports\Qtr Inv Rpt.xisx
City of Cartsbad
Summary of Outstanding Housing Loans
As of Septemt>er 30, 2012
Updated on: 10/04/2012
Borrower Development
Loan amount Developer loan Loans issued by City to Loans issued by due to City amount due to City
First date # ot loans developers/ Developer to # of loans City loan repaid to Developer loan (recorded as
homeowners liomeowners outstanding City repaid to City AR) Purpose issued issued (not on City's
Individual homebuyers City-wide (CHAP)
Individual homebuyers Calavera Hills
Individual homebuyers Cherry Tree Walk
Individual homebuyers Serrano
Individual homebuyers Rancho Carlsbad
Individual homebuyers Solamar
Catholic Charities Homeless shelter
CB Laurel Tree Apartm^ Laurel Tree
CB Housing Partnershii Rancho Camllo
Pacific Vista Las Flores Vista Las Flores
Poinsettia Housing AsS' Poinsettia Station
Bridge Housing Corp Villa Loma
Dove Family Housing La Costa Paloma
CIC Calavera LP Mariposa Apts
Mulberry at
Individual homebuyers Bressi Ranch
Sale
Sale
Sale
Sale
Sale
Sale
Shelter
06/28/99
10/15/99
06/28/99
05/25/01
05/20/99
09/26/88
09/19/97
Rentals
Rentals
Rentals
Rentals
Rentals
Rentals
Rentals
Sale
Sale
Rentals
Sale
Sale
Individual homebuyers Village by the Sea
El Camino Family Hous Cassia Heights
Individual homebuyers Laguna Point
Individual homebuyers The Bluffs
Individual homebuyers Roosevelt Gardens Sale
CIC La Costa Hunter's Point
Various
CIC Glen Ridge, LP Glen Ridge
Tavarua
Down Payment &
Closing Cost
Tavarua Senior
Apartments, LP
12/24/98
03/05/01
02/27/01
10/21/99
11/04/94
07/15/03
09/15/04
04/29/05
10/28/05
03/07/06
07/06/06
06/14/07
08/30/07
Rentals 08/19/08
Assistance 06/25/09
Rentals 10/05/09
Rentals 12/14/11
North County
Solutions for Change Propertv Acquisition Rentals 06/28/12
133
5
42
90
22
9
1
2
1
1
1
2
1
1
100
11
1
-atholic Charities Homeless shelter Shelter 03/01/10
$1,680,000 $
75,000
453,600
1,350,000
752,533
147,726
200,000
1,134,000
1,157,584
363,948
920,000
2,212,000
2,070,000
1,060,000
1,840,000
220,000
1,454,276
210,000
200,000
1,583,423
1,932,000
187,750
1,014,000
3.750,000
780,000
491,523
150,000
452,600
4,050,000
29
1
14
33
10
1
1
2
1
1
1
0
1
1
19,660,200 100
4,087,200 7
1
3
8
11
1
14
1
1
1
3
($1,496,658)
(60,000)
(313,200)
(900,133)
(404,370)
(135,065)
(728,396)
(83,177)
(2,212,000)
(1,486,204)
$ - $183,341.85
(120,000) 15,000
(283,250) 140,400
(2,610,000) 449,867
348,163
12,661
200,000
405,604
1,157,584
363,948
836,823
583,796
1,060,000
1,840,000
220,000
1,454,276
210,000
200,000
1,583,423
1,932,000
187,750
1,014,000
3,750,000
780,000
491,523
30,000
169,350
1,440,000
19,660,200
4,087,200
Hayment deterred 15 years. No interest is due unless
183,342 home is sold before 16th year
Payment deferred 30 years. No interest is due unless
45,000 home is sold before 31th year
Payment deferred 30 years. No interest is due unless
309,750 home is sold before 31th year
Payment defen-ed 30 years. No Interest Is due unless
1,889,867 home is sold before 31th year
348,163 Principal is due when home is sold
12,661 Principal is due when home is sold
200,000 Principal is due when property is sold
Principal and 3% interest each year for 30 years when
405,604 surplus cash is available
Principal and 3% interest each year for 55 years when
1,157,584 surplus cash is available
Principal and 3% interest each year for 55 years when
363,948 surplus cash is available
Principal and 3% interest each year for 55 years when
836,823 surplus cash is available
Principal and 3% interest each year for 15 years when
surplus cash is available
Principal and 3% interest each year for 55 years when
583,796 surplus cash is available
Knncipai ana interest eacn year tor oo years wnen
1,060,000 surplus cash is available
Payment defen-ed 30 years. No interest is due unless
21,500,200 home is sold before 31th year
Payment defen-ed 30 years. No interest is due unless
4,307,200 home is sold before 31th year
Principal and 3% interest each year for 55 years when
1,454,276 surplus cash is available
Payment deferred 45 years. No interest is due unless
210,000 home is sold before 46th year
Payment deferred 30 years. No interest is due unless
200,000 home is sold before 31th year
Refer to Agenda Bill 18,569 / Resolution 2006-131 & AB
1,583,423 19,183/R2007-255
1,932,000 Refer to AB18,251 / Resolution 2005-264
187,750 Refer to Agenda Bill 19,415 / Resolution 2008-121
1,014,000 Refer to Agenda Bill 397 / Resolution 435
3,750,000 Refer to Agenda Bill 418 / Resolution 475
780,000 Refer to Agenda Bill 20,936/Resolution 2012-136
Refer to AB19,768/R2009-068; AB20,530/R2011-081;
491,523 AB20,764/R2011-288
During the 1st Qtr of FY2012-13, $13,265 in CHAP loan payments were received
and issiiBft SSa R1fl in r.nRf5 Inans tn P.athnlir rharitinc:
« 27,239,364 $ 28,400,000 247 $ (7,819,203) $(3,013,250) $19,420,161 $ 25,386,750 $ 44,806,911 ~ ^
received a $144,844 principal payment related to the La Costa Paloma development; issued $526,762 in loans forthe Tavama development; issued $21,300 in Down Payment & Closing Costa Assistance loans;
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