HomeMy WebLinkAbout2013-04-30; City Council; 21199; Report on City Investments March 31, 2013CITY OF CARLSBAD - AGENDA BILL
AB# 21.199 REPORT ON CITY INVESTMENTS DEPT. HEAD ^
MTG. 4/30/13 AS OF MARCH 31,2013 CITY ATTY.
DEPT. TRS CITY MGR. TtL.
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 March 31, 2013 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 612,710,819 622,939,247
Cost of Investments 620,480,160 630,061,082
Amortized Cost (1) 617,174,488 626,909,350
Market Value (2) 620,989,721 630,812,954
(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 3/31/13.
The equity portion of the various funds in the total portfolio is summarized in the graph on the next
page. Fund balances are restricted for various purposes. See Exhibit 8 for a more detailed
breakdown.
The $9 million decrease between the February and March 2013 reports is due mainly to the
payment of $7.4 million from the housing trust fund for an affordable housing loan and $2.9 million
repayment to San Diego County for the Redevelopment Agency dissolution balance pfer AB1484
and AB1X26.
FOR CITY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED CONTINUED TO DATE SPECIFIC •
DENIED CONTINUED TO DATE UNKNOWN •
CONTINUED • RETURNED TO STAFF •
WITHDFIAWN • OTHER - SEE MINUTES •
AMENDED •
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.$ullivan@carlsbadca.gov
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF MARCH 31. 2013
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
General Special Revenue
$77 $ 42
Internal Service $36
Agency/Trust $io
Enterprise $151
Capital Projects
$301
Total Treasurer's Investment Portfolio at Amortized Cost
March 31,2013 $617 million
Pooled Investment Interest Income
Current
Month FYTD
Prior
Month FYTD
Current Month
Income
Cash Income Fiscal
Year-to-Date * 7,495,253 6,791,726 703,527
'The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life
(Years)
Average Yield
To Maturity Modified Duration
January 2013 2.25 1.170% 2.190
February 2013 2.21 1.091% 2.146
March 2013 2.27 1.092% 2.210
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 March 28, 2013 payment of $2.9 million to San Diego County did cause the portfolio to hit a
duration of 2.21. Our policy states that the maximum duration allowed is 2.2. This variance will
self-correct in April.
The pooled investment portfolio has the ability to meet the City's cash flow demands for the next
six (6) months.
PAGE 3 OF AB REPORT ON CITY INVESTMENTS AS OF MARCH 31. 2013
Investment Portfolio for Bond Proceeds
Current Quarter Prior Quarter
Par Value 11,561,774 17,500,304
Cost 11,561,774 17,500,304
EXHIBITS FOR POOLED INVESTMENTS:
1. Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield
2. Investment Portfolio Breakdown Of Maturities
3. Yield Comparison Graph
4. Market Yield Curve
5. Cumulative Cash Income Graph
6. Third Quarter Transactions
7. Detailed Investment Report
8. Fund Equity in Pooled Investments
9. Corporate Note and Commercial Paper Ratings
10. Percentage Weightings By Corporate Note Issuer
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
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF MARCH 31,2013
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 16,548,096 15,892,348 16,654,887 16,004,467 76,425 0.56 0.58
FN 14,218,341 14,204,649 14,277,810 14,271,359 0 0.96 0.96
CP 0 0 0 0 0 0.00 0.00
TR 2,005,855 2,006,944 2,027,180 2,032,140 46,875 2.44 2.44
FA 278,558,021 271,226,321 280,125,505 272,922,975 3,725,692 1.16 1.21
CN 177,021,356 174,474,840 179,081,520 176,477,765 3,293,901 1.62 1.62
LAIF 125,274,000 146,576,689 125,274,000 146,576,689 351,841 0.29 0.29
CUSTODY 33,998 76,031 33,998 76,031 10 0.00 0.00
SWEEP 2,653,138 1,722,571 2,653,138 1,722,571 509 0.02 0.02
BANKACCT 861,683 728,957 861,683 728,957 0 0.02 0.02
TOTALS $617,174,488 $626,909,350 $620,989,721 $630,812,954 7,495,253 1.09% 1.09%
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 MARCH 31,2013
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
992,000
1,882,080
0
2,062,109
17,673,955
12,395,927
125,274,000
33,998
2,653,138
861,683
$163,828,891 (1)
26.4%
7 MONTHS TO 1 YEAR
744,000
4,099,416
0
0
15,437,880
3,528,648
0
0
0
0_
$23,809,944 (1)
3.8%
$187,638,835 (1)
30.2%
1 TQ 5 YEARS
14,810,089
7,881,429
0
0
247,186,627
162,963,180
0
0
0
0_
$432,841,325
69.8%
TOTAL % TOTAL
16,546,089
13,862,925
0
2,062,109
280,298,462
178,887,756
125,274,000
33,998
2,653,138
861,683
$620,480,160
100.0%
2.7%
2.2%
0.0%
0.3%
45.2%
28.8% (2)
20.2%
0.0%
0.4%
0.1%
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. X
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YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1998 - MARCH 2013
-^EX-LAIF
^LAIF
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MARKET YIELD CURVE
6/30/11,6/30/12, 3/31/13
Market Rates
3 Mth 2 Yr 5 Yr 10 Yr
3 Mth 2 Yr 5 Yr 10 Yr
-•-06/30/2011 .01 .46 1.76 3.16
06/30/2012 .07 .25 0.62 1.45
-03/31/2013 .07 .24 0.77 1.85
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Cumulative
Millions $
Cumulative Cash Income
FY12-13
(March 2013)
14
12
10
8
Monthly Interest Income
Millions $
0.84 0.83 0.62 0.7
0.55
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
1=1 Interest Income --^-Budget Actual
8
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5
4
3
2
1
0
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City of Carlsbad
TRANSACTIONS FOR PERIOD:
01/01/13 TO 03/31/13 3RD QUARTER 2012-2013
Trans Investment Call Par Amount Return Investment
Date
SI IVC
Date Type Security Date Value Coupon (Cost) Rate Interest Return
DU TO
JANUARY
12/18/2012 01/03/2013 FA FHLMC N/A 3,000,000.00 0.600% 2,998,500.00 0.613% 73,500.00 3,072,000.00
01/10/2013 01/11/2013 FA FHLMC 04/05/2013 4,000,000.00 0.750% 4,002,320.00 0.730% 109,680.00 4,112,000.00
01/03/2013 01/16/2013 CD BANK OF HOLLAND 07/16/2013 249,000.00 1.000% 248,751.00 1.200% 12.699.00 261,450.00
01/03/2013 01/16/2013 CD BANK OF N. MICHIGAN 07/16/2013 249,000.00 1.000% 248,751.00 1.200% 12,699.00 261,450.00
01/16/2013 01/17/2013 FA FHLMC 02/14/2013 3,200,000.00 1.000% 3,200,000.00 1.000% 146,400.00 3,346.400.00
01/15/2013 01/18/2013 CD STEARNS BANK 01/18/2014 249,000.00 0.900% 248,253.00 0.900% 11,952.00 260,205.00
01/08/2013 01/22/2013 FA FHLMC 01/22/2015 3,350,000.00 0.950% 3,341,826.00 1.000% 167.299.00 3,509,125.00
01/17/2013 01/23/2013 CN GENERAL ELECTRIC CO N/A 3,000,000.00 0.850% 3,010,440.00 0.720% 58,693.33 3,069,133.33
01/17/2013 01/23/2013 CN PROCTER & GAMBLE 08/15/2016 1,000,000.00 1.450% 1,025,260.00 0.730% 26,376.11 1,051,636.11
01/10/2013 01/23/2013 CD 1ST FARMERS BANK 01/24/2014 249,000.00 1.000% 248,626.50 1.031% 12,823.50 261,450.00
01/24/2013 01/25/2013 FA FAMCA N/A 5,000,000.00 0.930% 5,004,870.00 0.910% 227.500.83 5,232,370.83
01/15/2013 01/30/2013 CD FARMERS & MERCHANT 01/30/2014 249,000.00 0.900% 248,253.00 1.200% 11.952.00 260,205.00
01/03/2013 01/30/2013 FA FHLB 07/30/2013 5,000,000.00 1.000% 5,000,000.00 1.000% 250,000.00 5,250,000.00
01/08/2013 01/30/2013 FA FHLB 07/30/2013 5,000,000.00 1.000% 5,000,000.00 1.000% 250,000.00 5,250,000.00
FEBRUARY
01/24/2013 02/01/2013 FA FFCB N/A 5,000,000.00 0.400% 4,998,750.00 0.484% 61,250.00 5,060,000.00
01/28/2013 02/01/2013 FA FAMGA N/A 5,000,000.00 1.050% 5,000,000.00 1.050% 262,354.17 5,262,354.17
01/31/2013 02/05/2013 FA FHLB 08/05/2013 5,000,000.00 1.000% 4,987,500.00 1.050% 262,500.00 5,250,000.00
01/28/2013 02/06/2013 CD ORIENTAL BANK & TRUST 08/06/2013 249,000.00 0.900% 249,000.00 1.050% 6.735.45 255,735.45
01/30/2013 02/06/2013 CD KEYBANK NATIONAL N/A 248,000.00 0.450% 248,000.00 0.450% 2.263.00 250.263.00
02/14/2013 02/19/2013 FA FFCB 11/27/2013 2,000,000.00 0.870% 1,985,000.00 1.030% 98,036.67 2,083.036.67
MARCH
02/27/2013 03/04/2013 CD GATEWAY BANK OF SW 07/28/2013 209,000.00 0.950% 208.373.00 1.070% 10,367.28 218,740.28
02/21/2013 03/06/2013 FA FNMA 03/06/2015 3,050,000.00 1.000% 3,050,000.00 1.000% 144,875.00 3,194,875.00
03/05/2013 03/06/2013 FA FNMA 05/22/2013 5,000,000.00 0.625% 5,001,350.00 1.140% 91.184.72 5,092,534.72
03/05/2013 03/08/2013 CN WAL-MART N/A 3,000,000.00 5.800% 3,669,120.00 1.140% 189,763.33 3,858,883.33
03/07/2013 03/12/2013 FA FFCB 03/12/2014 5.000,000.00 1.030% 4,991,500.00 1.065% 266.000.00 5,257,500.00
03/11/2013 03/14/2013 CD SUNTRUST BANKATLANT N/A 200,000.00 0.280% 198,780.00 0.649% 2.152.35 200,932.35
03/11/2013 03/28/2013 FA FNMA 03/28/2014 4,000,000.00 0.500% 4.000.000.00 0.500% 60.000.00 4,060,000.00
03/21/2013 03/26/201 a CN COCA-COLA N/A 1,000,000.00 1.150% 1,000.000.00 1.150% 57.627.78 1,057,627.78
03/27/2013 03/28/2013 FA FHLB 08/19/2013 4,000,000.00 0.500% 4,000,000.00 0.500% 57.833.33 4,057,833.33
03/22/2013 03/28/2013 CD WASHINGTON FEDERAL 09/28/2013 249,000.00 1.000% 248,253.00 1.062% 13,197.00 261,450.00
TOTAL THIRD QUARTER 2012-2013 77,000,000.00 77,661,476.50 0.89% 2,957,714.85 80,619,191.35
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City of Carlsbad
TRANSACTIONS FOR PERIOD:
01/01/13 TO 03/31/13 3RD QUARTER 2012-2013
Trans Investment Call Par Amount Return Investment
Date Date Type Security Date Value Coupon (Cost) Rate Interest Return
MATURITIES
JANUARY
01/14/2008 FA FHLB N/A 3,000,000.00 4.250% 3,000,000.00 4.250% 637,500.00 3,637,500.00
03/18/2011 CN ME LIFE OF CONNECTICU N/A 2,000,000.00 5.010% 2,121.360.00 1.561% 58,165.00 2,179,525.00
FEBRUARY
10/20/2009 FA FFCB N/A 1,000,000.00 5.150% 1,102,490.00 1.926% 67,316.94 1,169,806.94
10/07/2010 FA FFCB N/A 1,065,000.00 3.400% 1,133,986.44 0.600% 15,503.56 1,149,490.00
MARCH
03/10/2008 FA FHLB N/A 3.000,000.00 3.500% 2,963,940.00 3.765% 560,476.67 3,524,416.67
12/28/2010 CN ROYAL BANK OF CANADA N/A 2,000,000.00 2.250% 2,047,930.00 1.150% 51,695.00 2,099,625.00
TOTAL THIRD QUARTER 2012-2013 12.065.000.00 12,369,706.44 2.62% 1,390,657.17 13,760,363.61
CALLS
JANUARY
04/11/2012 FA FNMA 01/30/2013 4,000,000.00 0.750% 3,998,000.00 1.528% 296,083.33 4,294,083.33
01/30/2012 FA FNMA 01/30/2013 5,000,000.00 1.300% 5,000,000.00 1.300% 325,000.00 5,325,000.00
FEBRUARY
03/01/2012 FA FNMA 02/08/2013 3,000,000.00 0.5%STEP 2,999,700.00 1.317% 156,841.67 3,156,541.67
02/06/2012 FA FNMA 02/06/2013 5,000,000.00 0.75% STEP 5,000,000.00 1.682% 425,000.00 5,425,000.00
05/21/2012 FA FNMA 02/21/2013 4,000,000.00 1.100% 3,988,000.00 1.165% 221,000.00 4,209,000.00
02/21/2012 FA FNMA 02/21/2013 5.000,000.00 1.100% 4,985,000.00 1.162% 290,000.00 5,275,000.00
02/22/2012 FA FFCB 02/22/2013 5,000,000.00 0.850% 5,000.000.00 0.850% 170,000.00 5,170,000.00
MARCH
04/26/2012 FA FNMA 03/08/2013 4,000,000.00 1.200% 4,000,000.00 1.200% 233,600.00 4,233,600.00
03/08/2013 FA FNMA 03/08/2013 5,000.000.00 1.375% 5,000,000.00 1.375% 343,750.00 5,343,750.00
05/03/2012 FA FNMA 03/28/2013 1.655,000.00 1.010% 1.655,000.00 1.304% 106,280.88 1,761,280.88
TOTAL THIRD QUARTER 2012-2013 41,655,000.00 41,625,700.00 1.29% 2,567,555.88 44,193,255.88
INVESTMENT REPORT
AS OF MARCH 31,2013
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
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
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
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
02/01/2013 FA FFCB .4% NON-CALL 5,000,000.00 4,998,750.00 0.484% 61,250.00 5,060,000.00 1,095
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
03/28/2013 FA FHLB .500% CALL 8/19/13 CONT 4,000,000.00 4,000,000.00 0.500% 57,833.33 4,057,833.33 1,058
03/06/2013 FA FNMA .625% CALL 5/22/13 QRTLY 5,000,000.00 5,001,350.00 1.140% 91,184.72 5,092,534.72 1,083
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
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INVESTMENT REPORT
AS OF MARCH 31,2013
INVESTMENT
DATE
06/27/2012
03/28/2013
10/18/2012
04/27/2011
01/11/2013
10/06/2011
12/05/2012
06/06/2012
11/27/2012
12/27/2012
01/03/2013
05/24/2012
03/13/2012
04/26/2012
05/10/2012
06/04/2012
05/24/2012
05/30/2012
06/07/2012
07/05/2012
08/16/2012
07/12/2012
08/14/2012
01/17/2013
12/11/2012
09/27/2012
12/19/2012
10/18/2012
10/18/2012
11/27/2012
02/19/2013
03/06/2013
12/03/2012
12/28/2012
01/22/2013
01/25/2013
01/30/2013
01/30/2013
02/01/2013
02/05/2013
03/12/2013
TYPE SECURITY
FA FFCB .80% CALL 6/21/13 CONTINUOUS
FA FNMA .50% CALL 3/28/14 ONE TIME
FA FFCB .50% CALL 1/18/13 CONTINUOUS
FA FHLB 2.5% NON-CALL
FA FHLMC .75% CALL 4/5/13 QRTLY
FA FFCB 1.30% NON-CALL
FA FFCB .65% CALL 1/24/13 CONTINUOUS
FA FNMA 1.0% CALL 5/23/13 QRTLY
FA FHLB .55% BULLET
FA FFCB .60% BULLET
FA FHLMC .60% BULLET
FA FNMA 1.150% ONE CALL 2/28/14
FA FNMA 1.150% ONE CALL 3/13/14
FA FFCB 1.20% CALL 4/25/13 CONTINUOUS
FA FNMA 1.30% CALL 5/10/13 QRTLY
FA FNMA .625% CALL 5/17/13 ANNUAL STEP
FA FHLMC 1.2% CALL 5/24/13 QRTLY
FA FH LMC 1.2% CALL 5/30/14 QRTLY
FA FHLMC 1.30% CALL 6/7/13 QRTLY
FA FHLMC 1.150% CALL 6/7/13 QRTLY
FA FHLB .875% NON-CALL
FA FNMA 1.1 % CALL 7/11/14 QRTLY
FA FNMA 1.0% CALL 8/14/13 QRTLY
FA FH LMC 1.0% CALL 2/14/13 QRTLY
FA FNMA .70% CALL8/22/13 QRTLY STEP
FA FNMA 0.70% CALL 9/27/13 QRTLY STEP
FA FHLB 1.0% CALL 5/9/13 MONTHLY
FA FFCB .87% CALL 10/18/13 CONT
FA FNMA 0.70% CALL 10/18/13 QRTLY STEP
FA FNMA 0.90% CALL 11 /27/13 QRTLY
FA FFCB .87% CALL 11/27/13 CONT
FA FNMA 1.0% CALL 3/6/15 ONE TIME
FA FHLB 2.625% NON-CALL
FA FHLB .95% CALL 6/28/13 MONTHLY
FA FHLMC .95% CALL 1 /22/15 QRTLY
FA FAMCA .93% NON-CALL
FA FHLB 1.00% CALL 7/30/13 QRTLY
FA FHLB 1.00% CALL 7/30/13 QRTLY
FA FAMCA 1.05% NON-CALL
FA FHLB 1.00% CALL 8/5/13 CONT
FA FFCB 1.03% CALL 3/12/14 CONT
PAR
VALUE
5,000,000.00
4,000,000.00
5.000,000.00
2,000,000.00
4,000,000.00
5.000,000.00
2,266,000.00
2,000,000.00
5,000,000.00
3,000,000.00
3,000,000.00
2,050.000.00
3.950,000.00
3,000,000.00
5,000,000.00
4,000,000.00
5,000,000.00
5,000,000.00
4,000,000.00
1,000,000.00
4,000,000.00
4,000,000.00
5,000,000.00
3,200,000.00
2,800,000.00
5,000,000.00
3,000,000.00
5,000,000.00
5,000,000.00
4,000,000.00
2,000,000.00
3,050,000.00
3,000,000.00
5,000,000.00
3,350,000.00
5,000,000.00
5,000,000.00
5,000,000.00
5,000.000.00
5,000,000.00
5,000,000.00
INVESTED
AMOUNT
5,002,500.00
4,000,000.00
4,996.250.00
2,000,000.00
4,002,320.00
5,000,000.00
2,265,433.50
1,999,000.00
5,000,000.00
3,000,000.00
2,998.500.00
2,050,000.00
3,942,100.00
2,998,200.00
5,000.000.00
4.000,000.00
4,995.000.00
5.000.000.00
4,000,000.00
999,750.00
4,000,000.00
4,000,000.00
5,000,000.00
3,200,000.00
2,803,889.20
5,000,000.00
2,999.400.00
4.998,500.00
5,000,000.00
4,000,000.00
1,985,000.00
3,050,000.00
3,270,090.00
5,000,000.00
3,341.826.00
5.004,870.00
5,000,000.00
5,000,000.00
5,000,000.00
4,987,500.00
4,991,500.00
RETURN
RATE
0.786%
0.500%
0.522%
2.500%
0.730%
1.300%
0.657%
1.011%
0.550%
0.600%
0.613%
1.150%
1.191%
1.200%
1.300%
1.566%
1.221%
1.200%
1.300%
1.155%
0.875%
1.100%
1.000%
1.000%
0.700%
1.165%
1.000%
0.876%
1.100%
1.100%
1.030%
1.000%
0.790%
0.950%
1.000%
0.910%
1.000%
1.000%
1.000%
1.050%
1.065%
INTEREST
146,833.33
60,000.00
91,250.00
250,000.00
109,680.00
325,000.00
57,805.03
90,277.78
112,291.67
90,000.00
73,500.00
112,243.19
235,025.00
181,700.00
325,000.00
313,819.44
305,000.00
300,000.00
260,000.00
56,855.56
169,166.67
219,877.78
250,000.00
146,400.00
132,976.36
293,750.00
147,266.67
219,000.00
275,000.00
1,275,000.00
98.036.67
144,875.00
124,753.75
237,500.00
167,299.00
227,500.83
250,000.00
237,500.00
262,354.17
262,500.00
266,000.00
INVESTMENT
RETURN
5,149,333.33
4,060,000.00
5,087,500.00
2,250,000.00
4,112,000.00
5,325,000.00
2,323,238.53
2,089,277.78
5,112,291.67
3,090,000.00
3,072,000.00
2,162,243.19
4,177,125.00
3,179,900.00
5,325,000.00
4,313,819.44
5,300,000.00
5,300,000.00
4,260,000.00
1,056,605.56
4,169,166.67
4,219,877.78
5,250,000.00
3,346,400.00
2,936,865.56
5,293,750.00
3,146,666.67
5,217,500.00
5,275,000.00
5,275,000.00
2,083,036.67
3,194,875.00
3,394,843.75
5,237,500.00
3,509,125.00
5,232,370.83
5,250,000.00
5,237,500.00
5,262,354.17
5,250,000.00
5,257,500.00
TERM
(Davs)
1,363
1,096
1,278
1,827
1,363
1,827
1.419
1,631
1,491
1,461
1,461
1.741
1,826
1,825
1,826
1,808
1,826
1,826
1,826
1,798
1,765
1,825
1,826
1,670
1,715
1,826
1,786
1,826
1,826
1,826
1,742
1,736
1,831
1,826
1,826
1,825
1,826
1,826
1,824
1,826
1,826
SUB-TOTAL 277,566,000.00 280,298,461.62 1.157% 15,195,349.14 295,493,810.76
INVESTMENT REPORT
AS OF MARCH 31,2013
rESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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 14,376,000.00 13,862,924.63 0.964% 828,055.74 14,690,980.37 1,150
Federal Investments Total 291,942,000.00 294,161,386.25 16,023,404.88 310,184,791.13 1,150
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
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
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
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
INVESTMENT REPORT
AS OF MARCH 31,2013
'ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
10/09/2012 CN GENERAL ELECTRICT COMPANY .85% NON-CALL 5,000,000.00 5,022,225.00 0.700% 105,275.00 5,127,500.00 1,095
01/23/2013 CN GENERAL ELECTRICT COMPANY .85% NON-CALL 3,000,000.00 3,010,440.00 0.720% 58,693.33 3,069,133.33 989
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
12/04/2012 CN JOHNSON & JOHNSON 2.15% NON-CALL 2,000,000.00 2,104,120.00 0.621% 44,110.56 2,148,230.56 1,258
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
01/23/2013 CN PROCTER & GAMBLE 1.45% NON-CALL 1,000,000.00 1.025,260.00 0.730% 26,376.11 1,051,636.11 1,300
10/02/2012 CN COCA COLA CA 1.8% NON-CALL 3.000.000.00 3,133,106.35 0.650% 78,243.65 3,211.350.00 1,430
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
03/08/2013 CN WAL-MART 5.8% 3,000,000.00 3,669,120.00 1.140% 189,763.33 3,858,883.33 1,805
03/26/2013 CN COCA COLA CA 1.150% MAKE-WHOLE CALL 1,000,000.00 1,000,000.00 1.150% 57,627.78 1,057,627.78 1,832
SUB-TOTAL 173,384,000.00 178,887,756.13 1.617% 11,948,537.53 190,836,293.66 1,466
09/20/2012 CD BEAL BANK USA .50% 247,000.00 247,000.00 0.500% 1,136.85 248,136.85 342
09/16/2011 CD SAFRA NATIONAL BANK .80% 248,000.00 248,000.00 0.800% 3,973.43 251.973.43 731
INVESTMENT REPORT
AS OF MARCH 31,2013
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
12/19/2012 CD MIZUHO CORPORATE BANK .50% 247,000.00 247,000.00 0.500% 1,235.00 248,235.00 365
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
10/24/2012 CD INDEPENDENCE BANK OF KENTUCKY .50% 249,000.00 248,751.00 0.500% 2,739.00 251,490.00 730
10/24/2012 CD APPLE BANK FOR SAVINGS .50% 248,000.00 248,000.00 0.500% 2,480.00 250,480.00 730
03/14/2013 CD SUNTRUST BANK ATLANTA .28% 200,000.00 198,780.00 0.640% 2,152.35 200,932.35 608
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
11/30/2012 CD SYNOVUS BANK .5% 248,000.00 248,000.00 0.500% 2,473.11 250.473.11 728
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
10/17/2012 CD FIRST STATE BANK/MENDOA .50% 249,000.00 248,701.20 0.550% 3,636.09 252,337.29 825
02/06/2013 CD KEYBANK NATIONAL ASSOCIATION .45% 248,000.00 248,000.00 0.450% 2,263.00 250,263.00 740
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
11/29/2012 CD UNITED BANKERS BANK .50% 249,000.00 248,676.30 0.550% 3.436.20 252,112.50 911
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
10/17/2012 CD COMENITY CAP BANK SALT LAKE CITY .50% 249,000.00 248,601.60 0.550% 4,233.74 252,835.34 1,094
11/07/2012 CD EAGLE BANK .60% 249,000.00 249,000.00 0.600% 4,490.30 253,490.30 1,097
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
T 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
INVESTMENT REPORT
AS OF MARCH 31,2013
INVESTMENT
DATE
02/10/2012
02/06/2013
08/24/2012
10/22/2012
05/04/2012
05/18/2012
05/22/2012
05/31/2012
08/15/2012
02/28/2012
12/24/2012
12/24/2012
12/11/2012
12/17/2012
12/14/2012
12/14/2012
01/16/2013
01/16/2013
01/18/2013
01/23/2013
03/04/2013
01/30/2013
03/28/2013
TYPE
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
CD
O
O
O
O
O
O
O
O
SECURITY
CARDINAL BANK MCLEAN VA .90%
ORIENTAL BANK & TRUST .90% CALL 8/6/13
FIRST BUSINESS BANK .60%
NATIONAL BANK OF COMMERCE .50%
HERITAGE BANK OF COMMERCE .80%
NORTH JERSEY COMMUNITY .85%
STATE BANK & TRUST CO MACON, GA .80%
CRESCENT BANK & TRUST .90%
EVERBANK .90%
MERCANTILE BANK OF MICHIGAN 1.15%
DELTA NATL BANK & TRUST .90%
PACIFIC CONTL BANK .90%
BANCO POPULAR DE PR HATO 1.1%
FIRST AMERICAN BANK 1.0%
FIRST BANK OF PUERTO RICO 1.25%
BANKERS BANK KANSAS 1.0%
THE BANK OF HOLLAND 1.00%
BANK OF NORTHERN MICHIGAN 1.00%
STEARNS BANK .90%
FIRST FARMERS BANK & TRUST 1.0%
GATEWAY BANK OF SW FLORIDA .95%
FARMERS & MERCHANTS BANK .90%
WASHINGTON FEDERAL SAVINGS 1.0% CALL
WELLS FARGO BANK
CORPORATE CASH MANAGEMENT ACCOUNT
LIBRARY ACCOUNT
UNION TRUST
LAIF WATER DISTRICT
LAIF PUBLIC IMPROVEMENT CORPORATION
LAIF PUBLIC FINANCING CORPORATION
LAIF CITY OF CARLSBAD
PAR INVESTED RETURN INVESTMENT TERM
VALUE AMOUNT RATE INTEREST RETURN (Davs)
249,000.00 249,000.00 0.900% 8,970.06 257,970.06 1,461
249,000.00 249,000.00 0.900% 6,735.45 255,735.45 1,097
248,000.00 247,578.40 0.600% 5,635.72 253,214.12 1,279
249,000.00 248,551.80 0.550% 4,791.87 253,343.67 1,274
249,000.00 248,004.00 0.900% 8,953.05 256,957.05 1,459
248,000.00 247,008.00 0.950% 9,429.77 256,437.77 1,461
249,000.00 248,004.00 0.900% 8,974.88 256,978.88 1,462
249,000.00 248,502.00 0.950% 9,468.06 257,970.06 1,461
248,000.00 247,008.00 0.900% 9,926.11 256,934.11 1,461
248,000.00 247,380.00 1.150% 14,895.62 262,275.62 1,827
249,000.00 248,377.50 0.952% 11,624.88 260,002.38 1,792
249,000.00 248,452.20 0.946% 11,556.33 260,008.53 1,793
248,000.00 248,000.00 1.100% 13,595.16 261,595.16 1,820
249,000.00 248,253.00 1.000% 13,128.78 261,381.78 1,816
249,000.00 249,000.00 1.250% 15,562.50 264,562.50 1,826
249,000.00 248,502.00 1.000% 12,948.00 261,450.00 1,826
249,000.00 248,751.00 1.000% 12,699.00 261,450.00 1,826
249,000.00 248,751.00 1.000% 12,699.00 261,450.00 1,826
249,000.00 248,253.00 1.000% 11,952.00 260,205.00 1.826
249,000.00 248,626.50 1.000% 12,823.50 261,450.00 1,826
209,000.00 208,373.00 1.070% 10,367.28 218,740.28 1,792
249,000.00 248,253.00 0.900% 11,952.00 260,205.00 1,826
249,000.00 248,253.00 1.000% 13,197.00 261.450.00 1,826
16.562,000.00 16,546,088.74 0.562% 504,854.48 17.050,943.22 1,180
861,123.00 861,123.00 0.020% 0.47 861,123.47
2,653,138.31 2,653,138.31 0.020% 1.45 2,653,139.76 1
559.87 559.87 0.000% -559.87 1
33,998.02 33,998.02 0.000% 0.00 33,998.02 1
31,299,000.00 31,299,000.00 0.290% 252.13 31,299,252.13 1
31,052,000.00 31,052,000.00 0.290% 250.14 31,052,250.14 1
30,477,000.00 30,477,000.00 0.290% 245.51 30,477,245.51 1
32,446,000.00 32,446,000.00 0.290% 261.37 32,446,261.37
28,822,819.20 128,822,819.20 0.283% 1,011.08 128,823,830.28
GRAND TOTAL 612,710,819.20 620,480,159.57 1.092% 28,718,377.96 649.198,537.53
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF MARCH 31,2013
Cash Balance by Fund:
General 77,089,897
Special Revenue 41,845,460
Debt Service 0
Capital Projects:
General Capital Construction 50,612,829
Traffic Impact Fees 20,644,965
Public Facilities Fees 46,179,614
Park Development 4,020,467
Transnet Taxes 7,822,568
Drainage Fees 5,833,064
Special Districts 86,385,008
Infrastructure Replacement 76,518,779
Redevelopment (see Trust Funds) 0
Other Capital Construction 2,629,620
Total 300,646,914
Enterprise:
Carlsbad Municipal Water District 89,279,204
Sewer Fund 51,797,992
Solid Waste 7,223,058
Storm Water 3,040,654
Golf Course 18,230
Total 151,359,138
Internal Service 35,788,311
Agency Funds 9,307,129
Trust Funds 389,759
Total General Ledger Balance ** 616,426,608
Reconciling Adjustments (1) 747,881
Total Treasurer's Investment Portfolio at Amortized Cost 617,174,488
(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 04/10/13
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of March 31, 2013
CORPORA TE NOTE AND COMMERCIAL PAPER RA TINGS
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+
COCA COLA AA3 AA-
GENERAL ELECTRIC COMPANY AA3 AA+
GOOGLE INC AA2 AA-
IBM CORP AA3 AA-
JOHNSON & JOHNSON AAA AAA
MASS MUTUAL GLOBAL AA2 AA+
MERCK AA3 AA
MET LIFE GLOBAL 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 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 *
Moodv's S&P
Latest
Maturity Date
Carrying
Value
Market
Value
A1 A+ 04/30/2013 2,000,386 2,008,040
A2 A+ 12/15/2015 2,000,000 2,044,460
Al AA+ 05/09/2016 19,391,336 19,774,406
A1 AA-06/05/2017 10,000,000 9,755,000
ALL STATE LIFE
BARCLAYS BANK
GENERAL ELECTRIC
HSBC BANK USA
* 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 MARCH 31,2013
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 0.32%
BERKSHIRE HATHAWAY 19,421,409.77 3.13%
COCA COLA CO 4,133,106.35 0.67%
GENERAL ELECTRIC CAP 19,390,658.05 3.13%
GENERAL ELECTRIC COMPANY 8,032,665.00 1.29%
GOOGLE 1,050,940.00 0.17%
HSBC BANK USA 10,000,000.00 1.61%
IBM CORP 8,581,305.00 1.38%
JOHNSON & JOHNSON 2,104,120.00 0.34%
MASS MUTUAL 3,607,914.95 0.58%
MERCK & CO 5,498,750.00 0.89%
MET LIFE GLOBAL FUND 22,244,146.45 3.58%
MICROSOFT 2,072,820.00 0.33%
NEW YORK LIFE 11,847,794.90 1.91%
PROTER & GAMBLE 13,392,464.17 2.16%
PROVIDENCE HEALTH 2,237,929.50 0.36%
ROYAL BANK OF CANADA 2,038,220.00 0.33%
3M 2,121,417.76 0.34%
SHELL INTERNATIONAL FIN 5,384,350.00 0.87%
TOYOTA 9,023,645.00 1.45%
WAL-MART 17,680,539.46 2.85%
WESTPAC BANKING CORP 5,000,000.00 0.81%
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
Investment Cost Percent of Portfolio**
FAMCA 15,016,370.00 2.42%
FICO 2,909,735.32 0,47%
FEDERAL FARM CREDIT BANK 52,846,233.03 8.52%
FEDERAL HOME LOAN BANK 76,294,402.86 12,30%
FEDERAL HOME LOAN MORTGAGE CORP 35,824,988.36 5.77%
FEDERAL NATIONAL MORTGAGE ASSOC 107,170,241.03 17.27%
TVA 4,099,415.64 0.66%
U.S.TREASURY 2,062,109.25 0.33%
Total Portfolio $620,480,159,57
No more than 5% may be invested with a single corporate issuer,
*There are no percentage limits on federal agency issuers.
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