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HomeMy WebLinkAbout2013-05-28; City Council; 21243; Report on City Investments April 30, 20138 CITY OF CARLSBAD - AGENDA BILL 21.243 REPORT ON CITY INVESTMENTS DEPT.DIRECTOR •^"T^- 5/28/13 AS OF APRIL 30, 2013 CITY ATTY. DEPT. TRS CITY MGR. RECOMMENDED ACTION: Accept and file report. ITEM EXPLANATION: The City's Investment Policy requires the City Treasurer to report to the City Council on a monthly basis the status of the city's pooled investment portfolio. A quarterly report is also required for the investments of bond proceeds held separately. The city's pooled investment portfolio as of the month ended April 30, 2013 is summarized below. Pooled Investment Portfolio (Cash and Securities) Current Month Prior Month Par Value 621,474,977 612,710,819 Cost of Investments 629,143,606 620,480,160 Amortized Cost (1) 625,764,403 617,174,488 Market Value (2) 630,027,090 620,989,721 (1) The cost of investments adjusted for amortized premiums and discounts. (2) The amount at which the investments could be sold. Source of market values is Union Bank of California's custodial report as of 4/30/13. 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 $8 million increase between the March 2013 and April 2013 reports is due to the receipt of property taxes totaling $11 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ACTION: APPROVED • CONTINUED TO DATE SPECIFIC • DENIED • CONTINUED TO DATE UNKNOWN • CONTINUED • RETURNED TO STAFF • WITHDRAWN • OTHER-SEE MINUTES AMENDED • REPORT RECEIVED DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan@carlsbadca.gov PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF APRIL 30. 2013 FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) General Special Revenue $87 $42 Internal Service $36 Agency/Trust $11 Enterprise $153 Capital Projects $297 Total Treasurer's Investment Portfolio at Amortized Cost April 30,2013 $626 million Pooled Investment Interest Income Current Month FYTD Prior Month FYTD Current Month Income Cash Income Fiscal Year-to-Date * 8,423,565 7,495,253 928,312 "The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement Average Life (Years) Average Yield To Maturity Modified Duration February 2013 2.21 1.091% 2.146 March 2013 2.27 1.092% 2.210 April 2013 2.22 1.033% 2.167 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. 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 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF APRIL 30, 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 17,292,245 16,548,096 17,406,957 16,654,887 87,085 0.54 0.56 FN 14,231,591 14,218,341 14,292,001 14,277,810 0 0.96 0.96 CP 0 0 0 0 0 0.00 0.00 TR 2,004,802 2,005,855 2,022,700 2,027,180 62,500 2.44 2.44 FA 284,497,008 278,558,021 286,353,562 280,125,505 4,021,627 1.15 1.16 CN 166,897,780 177,021,356 169,110,894 179,081,520 3,802,331 1.52 1.62 LAIF 137,970,741 125,274,000 137,970,741 125,274,000 449,443 0.27 0.29 CUSTODY (5,825) 33,998 (5,825) 33,998 12 0.00 0.00 SWEEP 2,121,663 2,653,138 2,121,663 2,653,138 566 0.02 0.02 BANK ACCT 754,397 861,683 754,397 861,683 0 0.02 0.02 TOTALS $625,764,403 $617,174,488 $630,027,090 $620,989,721 8,423,565 1.03% 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 Overnight Cash acccount Bank Account - General Fund Cash account td X H M Hi CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF APRIL 30,2013 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 1,489,000 1,882,080 0 2,062,109 28,035,357 6,301,903 137,970,741 (5,825) 2,121,663 754,397 $180,611,426 (1) 28.7% 7 MONTHS TO 1 YEAR 247,000 4,099,416 0 0 5,076,478 8,127,128 0 0 0 0_ $17,550,021 (1) 2.8% $198,161,447 (1) 31.5% 1 TO 5 YEARS 15,553,852 7,881,429 0 0 253,182,177 154,364,701 0 0 0 0_ $430,982,158 68.5% TOTAL % TOTAL 17,289,852 13,862,925 0 2,062,109 286,294,012 168,793,732 137,970,741 (5,825) 2,121,663 754,397 $629,143,606 100.0% 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. 2.7% 2.2% 0.0% 0.3% 45.5% 26.8% (2) 21.9% 0.0% 0.3% 0.1% 100.0% X H Cd H Hi YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1999 - APRIL 2013 X H w H Hi u> MARKET YIELD CURVE 6/30/11,6/30/12,4/30/13 Market Rates 3Mth 2 Yr 5 Yr 10 Yr 3Mth 2Yr 5 Yr 10 Yr -•-06/30/2011 .01 .46 1.76 3.16 06/30/2012 .07 .25 0.62 1.45 -04/30/2013 .05 .21 0.68 1.67 M X H ro H Cumulative Cash Income Cumulative Millions $ 14 12 10 8 6 4 2 FY12-13 (April 2013) Monthly Interest Income Millions $ Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Interest Income --^-Budget -ii-Actual X H ro Ol City of Carisbad TRANSACTIONS FOR PERIOD: 04/01/13 TO 04/30/13 4th QUARTER 2012-2013 Trans Date BUYS APRIL 03/19/2013 03/21/2013 04/16/2013 04/12/2013 04/09/2013 Investment Date 04/05/2013 04/17/2013 04/18/2013 04/30/2013 04/30/2013 Type Security CD BOSTON PRIVATE BANK & TRUST FA FHLMC CD FIRST STATE BANK NE FA FHLB CD FOREST COMMERCIAL BANK TOTAL FOURTH QUARTER 2012-2013 MATURITIES APRIL 04/24/2008 CN MET LIFE GLOBAL 05/07/2008 CN MET LIFE GLOBAL 05/12/2009 CN WAL-MART 05/30/2008 CN ALL STATE LIFE Call Date 10/04/2013 04/17/2014 10/18/2013 06/30/2015 10/30/2013 N/A N/A N/A N/A TOTAL FOURTH QUARTER 2012-2013 Par Value 248,000.00 5,000,000.00 249,000.00 4,000,000.00 249,000.00 9,746,000.00 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 6.000.000.00 Coupon 0.950% 1.100% 0.950% 0.500% 0.900% 5.125% 5.125% 4.250% 5.375% Amount (Cost) 247,008.00 4,993,750.00 248,502.00 4,000,000.00 248,253.00 Return Rate 1.032% 1.126% 1.353% 0.500% 1.500% Interest 12.765.55 281,250.00 12,325.50 73,333.33 11.997.00 Investment Return 259,773.55 5,275,000.00 260,827.50 4,073,333.33 260,250.00 9,737,513.00 0.882% 391,671.38 10,129,184.38 1,003,232.48 2,019,402.04 1,047,829.91 2,023,559.81 5.050% 4.900% 2.950% 5.100% 251.024.46 485,410.46 118,982.59 504,981.86 1,254,256.94 2,504,812.50 1,166,812.50 2,528.541.67 6.094,024.24 4.656% 1.360.399.37 7.454,423.61 CALLS APRIL 04/26/2012 05/02/2012 FA CN FFCB TOYOTA 04/25/2013 3.000,000.00 1.200% 2,998.200.00 1.212% 181.700.00 3,179.900.00 04/30/2013 4,000.000.00 0.5%STEP 4.000,000.00 0.500% 119.888.89 4.119,888.89 TOTAL FOURTH QUARTER 2012-2013 7.000.000.00 6.998.200.00 0.805% 301.588.89 7,299,788.89 td X H ro H INVESTMENT REPORT AS OF APRIL 30,2013 VESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 td X H ro H H3 INVESTMENT REPORT AS OF APRIL 30,2013 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 06/27/2012 FA FFCB .80% CALL 6/21/13 CONTINUOUS 5,000,000.00 5,002,500.00 0.786% 146,833.33 5,149,333.33 1,363 03/28/2013 FA FNMA .50% CALL 3/28/14 ONE TIME 4,000,000.00 4,000,000.00 0.500% 60.000.00 4,060,000.00 1,096 10/18/2012 FA FFCB .50% CALL 1/18/13 CONTINUOUS 5.000,000.00 4.996,250.00 0.522% 91,250.00 5,087,500.00 1,278 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 01/11/2013 FA FHLMC .75% CALL 4/5/13 QRTLY 4,000,000.00 4,002,320.00 0.730% 109,680.00 4,112,000.00 1,363 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 12/05/2012 FA FFCB .65% CALL 1/24/13 CONTINUOUS 2,266,000.00 2,265,433.50 0.657% 57,805.03 2,323,238.53 1,419 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 11/27/2012 FA FHLB .55% BULLET 5,000,000.00 5,000,000.00 0.550% 112,291.67 5,112,291.67 1,491 12/27/2012 FA FFCB .60% BULLET 3,000,000.00 3,000,000.00 0.600% 90,000.00 3,090,000.00 1,461 04/30/2013 FA FHLB .50% ONE CALL 6/30/15 4,000,000.00 4,000,000.00 0.500% 73,333.33 4,073.333.33 1,340 01/03/2013 FA FHLMC .60% BULLET 3,000,000.00 2,998,500.00 0.613% 73,500.00 3,072,000.00 1,461 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 03/13/2012 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 05/10/2012 FA FNMA 1.30% CALL 5/10/13 QRTLY 5,000,000.00 5.000,000.00 1.300% 325,000.00 5,326,000.00 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 01/17/2013 FA FHLMC 1.0% CALL 2/14/13 QRTLY 3,200,000.00 3,200.000.00 1.000% 146,400.00 3.346,400.00 1,670 12/11/2012 FA FNMA .70% CALL8/22/13 QRTLY STEP 2,800,000.00 2,803,889.20 0.700% 132,976.36 2,936,865.56 1,715 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 12/19/2012 FA FHLB 1.0% CALL 5/9/13 MONTHLY 3,000,000.00 2,999,400.00 1.000% 147,266.67 3,146,666.67 1,786 10/18/2012 FA FFCB .87% CALL 10/18/13 CONT 5,000,000.00 4,998,500.00 0.876% 219,000.00 5,217,500.00 1,826 10/18/2012 FA FNMA 0.70% CALL 10/18/13 QRTLY STEP 5,000,000.00 5,000,000.00 1.100% 275,000.00 5,275,000.00 1,826 11/27/2012 FA FNMA 0.90% CALL 11/27/13 QRTLY 4,000,000.00 4,000,000.00 1.100% 1,275,000.00 5,275,000.00 1,826 02/19/2013 FA FFCB .87% CALL 11/27/13 CONT 2,000,000.00 1,985,000.00 1.030% 98,036.67 2.083,036.67 1,742 03/06/2013 FA FNMA 1.0% CALL 3/6/15 ONE TIME 3,050,000.00 3,050,000.00 1.000% 144.875.00 3,194,875.00 1,736 12/03/2012 FA FHLB 2.625% NON-CALL 3,000,000.00 3,270.090.00 0.790% 124,753.75 3,394,843.75 1,831 12/28/2012 FA FHLB .95% CALL 6/28/13 MONTHLY 5,000,000.00 5,000,000.00 0.950% 237.500.00 5,237,500.00 1,826 01/22/2013 FA FHLMC .95% CALL 1/22/15 QRTLY 3,350,000.00 3,341,826.00 1.000% 167,299.00 3,509,125.00 1,826 01/25/2013 FA FAMCA .93% NON-CALL 5,000,000.00 5,004.870.00 0.910% 227,500.83 5,232,370.83 1,825 01/30/2013 FA FHLB 1.00% CALL 7/30/13 QRTLY 5,000,000.00 5,000.000.00 1.000% 250,000.00 5,250,000.00 1,826 01/30/2013 FA FHLB 1.00% CALL 7/30/13 QRTLY 5,000,000.00 5,000,000.00 1.000% 237,500.00 5,237,500.00 1,826 02/01/2013 FA FAMCA 1.05% NON-CALL 5.000,000.00 5,000,000.00 1.000% 262,354.17 5,262,354.17 1,824 02/05/2013 FA FHLB 1.00% CALL 8/5/13 CONT 5,000.000.00 4,987,500.00 1.050% 262,500.00 5,250,000.00 1,826 03/12/2013 FA FFCB 1.03% CALL 3/12/14 CONT 5.000.000.00 4,991,500.00 1.065% 266,000.00 5,257,500.00 1,826 ^ 04/17/2013 PN FA FHLMC 1.10% CALL 4/17/14 QRTLY 5.000.000.00 4,993,750.00 1.126% 281,250.00 5,275,000.00 1,826 v) SUB-TOTAL 283,566,000.00 286,294,011.62 1.146% 15,368,232.47 301,662,244.09 _ INVESTMENT REPORT AS OF APRIL 30,2013 ESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 297,942,000.00 300,156,936.25 16,196,288.21 316,353,224.46 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 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 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 10/09/2012 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 INVESTMENT REPORT AS OF APRIL 30,2013 ESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 163.384,000.00 168.793,731.89 1.522% 10,468,249.27 179,261,981.16 1,473 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 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 INVESTMENT REPORT AS OF APRIL 30,2013 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 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 02/06/2013 CD ORIENTAL BANK & TRUST .90% CALL 8/6/13 249,000.00 249,000.00 0.900% 6,735.45 255.735.45 1,097 08/24/2012 CD FIRST BUSINESS BANK .60% 248,000.00 247,578.40 0.600% 5,635.72 253.214.12 1,279 10/22/2012 CD NATIONAL BANK OF COMMERCE .50% 249,000.00 248,551.80 0.550% 4,791.87 253.343.67 1,274 INVESTMENT REPORT AS OF APRIL 30,2013 INVESTMENT PAR INVESTED RETURN DATE TYPE SECURITY VALUE AMOUNT RATE 05/04/2012 CD HERITAGE BANK OF COMMERCE .80% 249,000.00 248,004.00 0.900% 05/18/2012 CD NORTH JERSEY COMMUNITY .85% 248,000.00 247,008.00 0.950% 05/22/2012 CD STATE BANK & TRUST CO MACON, GA .80% 249,000.00 248,004.00 0.900% 05/31/2012 CD CRESCENT BANK & TRUST .90% 249,000.00 248,502.00 0.950% 08/15/2012 CD EVERBANK .90% 248,000.00 247,008.00 0.900% 02/28/2012 CD MERCANTILE BANK OF MICHIGAN 1.15% 248,000.00 247,380.00 1.150% 12/24/2012 CD DELTA NATL BANK & TRUST .90% 249,000.00 248,377.50 0.952% 12/24/2012 CD PACIFIC CONTL BANK .90% 249,000.00 248,452.20 0.946% 12/11/2012 CD BANCO POPULAR DE PR HATO 1.1% 248.000.00 248,000.00 1.100% 12/17/2012 CD FIRST AMERICAN BANK 1.0% 249,000.00 248,253.00 1.000% 12/14/2012 CD FIRST BANK OF PUERTO RICO 1.25% 249,000.00 249,000.00 1.250% 12/14/2012 CD BANKERS BANK KANSAS 1.0% 249,000.00 248,502.00 1.000% 01/16/2013 CD THE BANK OF HOLLAND 1.00% 249,000.00 248,751.00 1.000% 01/16/2013 CD BANK OF NORTHERN MICHIGAN 1.00% 249,000.00 248,751.00 1.000% 01/18/2013 CD STEARNS BANK .90% 249,000.00 248,253.00 1.000% 01/23/2013 CD FIRST FARMERS BANK & TRUST 1.0% 249,000.00 248,626.50 1.000% 03/04/2013 CD GATEWAY BANK OF SW FLORIDA .95% 209,000.00 208,373.00 1.070% 01/30/2013 CD FARMERS & MERCHANTS BANK .90% 249,000.00 248,253.00 0.900% 03/28/2013 CD WASHINGTON FEDERAL SAVINGS 1.0% CALL 249,000.00 248,253.00 1.000% 04/05/2013 CD BOSTON PRIVATE BANK & TRUST .95% CALL 248,000.00 247.008.00 1.032% 04/18/2013 CD FIRST STATE BANK NE .95% CALL 249,000.00 248,502.00 0.991% 04/30/2013 CD FOREST COMMERCIAL BANK .90% CALL 249,000.00 248.253.00 0.960% SUB-TOTAL 17,308.000.00 17,289,851.74 0.538% 0 WELLS FARGO BANK 753,941.00 753,941.00 0.020% 0 CORPORATE CASH MANAGEMENT ACCOUNT 2,121,663.13 2.121,663.13 0.020% O LIBRARY ACCOUNT 456.06 456.06 0.000% 0 UNION TRUST (5,824.84) (5.824.84) 0.000% 0 LAIF WATER DISTRICT 31,322,275.18 31,322,275.18 0.270% O LAIF PUBLIC IMPROVEMENT CORPORATION 31,076,466.00 31,076,466.00 0.270% 0 LAIF PUBLIC FINANCING CORPORATION 37,075,000.00 37,075,000.00 0.270% O LAIF CITY OF CARLSBAD 38,497,000.00 38,497,000.00 0.270% SUB-TOTAL 140,840,976.53 140,840,976.53 0.265% GRAND TOTAL 621,474,976.53 629,143,605.66 1.033% INTEREST 8,953.05 9,429.77 8,974.88 9,468.06 9,926.11 14,895.62 11,624.88 11,556.33 13,595.16 13,128.78 15,562.50 12,948.00 12.699.00 12,699.00 11,952.00 12,823.50 10,367.28 11,952.00 13,197.00 12,765.55 12.325.50 11,952.00 0.41 1.16 (0.00) 234.92 233.07 278.06 288.73 INVESTMENT RETURN 256,957.05 256,437.77 256,978.88 257,970.06 256,934.11 262,275.62 260.002.38 260,008.53 261,595.16 261,381.78 264,562.50 261,450.00 261,450.00 261,450.00 260,205.00 261.450.00 218,740.28 260,205.00 261,450.00 259.773.55 260.827.50 260.205.00 541,897.53 17,831,749.27 753,941.41 2.121.664.29 456.06 (5,824.84) 31,322,510.10 31,076,699.07 37,075,278.06 38,497.288.73 TERM (Days) 1,459 1,461 1,462 1,461 1,461 1,827 1.792 1,793 1,820 1,816 1,826 1,826 1,826 1,826 1,826 1,826 1,792 1,826 1,826 1,825 1,826 1,826 1,207 1.036.36 140,842,012.89 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF APRIL 30, 2013 Cash Balance by Fund: General 86,853,867 Special Revenue 42,546,092 Debt Service 0 Capital Projects: General Capital Construction 48,715,095 Traffic Impact Fees 20,676,032 Public Facilities Fees 43,686,429 Park Development 4,029,411 Transnet Taxes 7,714,730 Drainage Fees 5,822,096 Special Districts 87,166,464 Infrastructure Replacement 76,552,943 Redevelopment (see Trust Funds) 0 Other Capital Construction 2,623,396 Total 296,986,595 Enterprise: Carlsbad Municipal Water District 90,365,425 Sewer Fund 52,420,467 Solid Waste 7,283,658 Storm Water 3,426,069 Golf Course 20,392 Total 153,516,011 Internal Service 36,303,582 Agency Funds 11,574,864 Trust Funds 375,754 Total General Ledger Balance ** 628,156,764 Reconciling Adjustments (1) (2,392,360) Total Treasurer's Investment Portfolio at Amortized Cost 625,764,403 (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 05/07/13 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of April 30, 2013 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+ 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 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 BARCLAYS BANK A2 A+ GENERAL ELECTRIC Al AA+ HSBC BANK USA Al AA- Latest Carrying Maturity Date Value 12/15/2015 05/09/2016 06/05/2017 2,000,000 19,391,997 10,000,000 Market Value 2,044,940 19,769,376 9,763,500 * 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 April 30, 2013 WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER Investment Cost Percent of Portfolio* BARCLAYS BANK 2,000,000.00 0.32% BERKSHIRE HATHAWAY 19,421,409.77 3.09% COCA COLA CO 4,133,106.35 0.66% GENERAL ELECTRIC CAP 19,390,658.05 3.08% GENERAL ELECTRIC COMPANY 8,032,665.00 1.28% GOOGLE 1,050,940.00 0.17% HSBC BANK USA 10,000,000.00 1.59% IBM CORP 8,581,305.00 1.36% JOHNSON & JOHNSON 2,104,120.00 0.33% MASS MUTUAL 3,607,914.95 0.57% MERCK & CO 5,498,750.00 0.87% MET LIFE GLOBAL FUND 19,221,511.93 3.06% MICROSOFT 2,072,820.00 0.33% NEW YORK LIFE 11,847,794.90 1.88% PROTER & GAMBLE 13,392,464.17 2.13% PROVIDENCE HEALTH 2,237,929.50 0.36% ROYAL BANK OF CANADA 2,038,220.00 0.32% 3M 2,121,417.76 0.34% SHELL INTERNATIONAL FIN 5,384,350.00 0.86% TOYOTA 5,023,645.00 0.80% WAL-MART 16,632,709.55 2.64% WESTPAC BANKING CORP 5,000,000.00 0.79% PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER Investment Cost Percent of Portfolio** FAMCA 15,016,370.00 2.39% FICO 2,909,735.32 0.46% FEDERAL FARM CREDIT BANK 49,848,033.03 7.92% FEDERAL HOME LOAN BANK 80,294,402.86 12.76% FEDERAL HOME LOAN MORTGAGE CORP 40,818,738.36 6.49% FEDERAL NATIONAL MORTGAGE ASSOC 107,170,241.03 17.03% TVA 4,099,415.64 0.65% U.S.TREASURY 2,062,109.25 0.33% Total Portfolio $629,143,605.66 * 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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