HomeMy WebLinkAbout2013-08-27; City Council; 21342; Report on City Investments June 30, 201316
CITY OF CARLSBAD - AGENDA BILL
AB# 21.342 REPORT ON CITY INVESTMENTS DEPT. HEAD ~W7 MTG. 8/27/13 AS OF JUNE 30, 2013 CITYATTY. ^
DEPT. TRS CITY MGR.
RECOMMENDED ACTION:
Accept and file report.
ITEM EXPLANATION:
The City's Investment Policy requires the City Treasurer to report to the City Council on a monthly
basis the status of the city's pooled investment portfolio. A quarterly report is also required for the
investments of bond proceeds held separately. The city's pooled investment portfolio as of the
month ended June 30, 2013 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 634,684,425 632,707,535
Cost of Investments 641,918,632 640,145,930
Amortized Cost (1) 638,531,426 636,821,751
Market Value (2) 636,806,973 638,674,607
(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 Califomia's custodial report as of 6/30/13.
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)
Special Revenue General $94 $43
Internal Service $35
Agency/Trust $19
Enterprise $155
Capital Projects
$292
Total Treasurer's Investment Portfolio at Amortized Cost
June 30,2013 $638 million
FOR CITY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED
DENIED
CONTINUED
WITHDRAWN
AMENDED
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•
•
•
•
CONTINUED TO DATE SPECIFIC •
CONTINUED TO DATE UNKNOWN •
RETURNED TO STAFF •
OTHER - SEE MINUTES X.
COUNCIL RECEIVED THE REPORT.
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan@carlsbadca.qov
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF JUNE 30. 2013
Pooled Investment Interest Income
Current
Month FYTD
Prior
Month FYTD
Current Month
Income
Cash Income Fiscal
Year-to-Date * 9,567,780 8,954,500 613,280
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life
(Years)
Average Yield
To Maturity Modified Duration
April 2013 2.22 1.033% 2.154
May 2013 2.14 0.991% 2.073
June 2013 2.21 0.988% 2.136
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 11,545,425 11,561,774
Cost 11,545,425 11,561,774
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
EXHIBITS FOR POOLED INVESTMENTS:
6. Fourth Quarter Transactions
7. Detailed Investment Report
8. Fund Equity in Pooled Investments
9. Corporate Note and Commercial Paper Ratings
10. Percentage Weightings By Corporate Note Issuer
EXHIBIT FOR INVESTMENTS OF BOND PROCEEDS HELD SEPARATELY:
11. Detailed Investment Report - Quarterly Report
EXHIBIT FOR SUMMARY OF OUTSTANDING HOUSING LOANS:
12. Detail Of Outstanding Housing Loans - Quarterly Report
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JUNE 30, 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 17,293,068 17,292,663 17,280,613 17,404,931 109,321 0.89 0.88
FN 12,258,142 14,245,283 12,305,267 14,296,355 0 0.83 0.96
CP 0 0 0 0 0 0.00 0.00
TR 2,002,660 2,003,713 2,012,540 2,017,300 62,500 2.44 2.44
FA 283,145,161 273,707,797 280,810,523 273,924,276 4,573,573 1.11 1.12
CN 167,681,971 167,798,760 168,247,605 169,258,211 4,372,257 1.48 1.48
LAIF 149,428,466 156,741,466 149,428,466 156,741,466 449,443 0.25 0.25
CUSTODY 440 857 440 857 17 0.00 0.00
SWEEP 6,073,905 4,471,257 6,073,905 4,471,257 669 0.02 0.02
BANK ACCT 647,614 559,955 647,614 559,955 0 0.02 0.02
TOTALS $638,531,426 $636,821,751 $636,806,973 $638,674,607 9,567,780 0.99% 0.99%
CD - Certificate of Deposit TR - US Treasury LAIF - Local Agency Investment Fund
FN - Federal Discount Notes
CP - Corporate Paper
FA - Federal Agency
CN - Corporate Notes
Custody - Investment Cash account
SWEEP - General Fund Ovemight Cash acccount
Bank Account - General Fund Cash account
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CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JUNE 30,2013
BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME
CLASS WITHIN 6 MONTHS
CD
FN
CP
TR
FA
CN
LAIF
CUSTODY
SWEEP
BANK ACCT _
TOTALS
% TOTALS
Total within One Year
1,736,000
4,099,416
0
2,062,109
21,835,773
2,121,418
149,428,466
440
6,073,905
647,614
$188,005,141 (1)
29.3%
7 MONTHS TO 1 YEAR
995,000
1,027,655
0
0
9,279,440
15,473,961
0
0
0
0_
$26,776,056 (1)
4.2%
$214,781,196 (1)
33.5%
1 TO 5 YEARS
14,558,852
6,853,774
0
0
253,687,597
152,037,213
0
0
0
0_
$427,137,436
66.5%
TOTAL % TOTAL
17,289,852
11,980,845
0
2,062,109
284,802,810
169,632,592
149,428,466
440
6,073,905
647,614
$641,918,632
100.0%
2.7%
1.9%
0.0%
0.3%
44.4%
26.4% (2)
23.3%
0.0%
1.0%
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.
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3.00 2.75 2.50 2.25 2.00
1.50 1.25
0.75 0.50 0.25 0.00
YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1999-JUNE 2013
I I N I I I I M I I M I I I I I I M I M I M I M I I I I M I I I I I I I I I I I I I I I I M I I I I I I M I I I I M I I I I M I M I I M 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 M I I I I I I I I I I I M M
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MARKET YIELD CURVE
6/30/11,6/30/12,6/30/13
Market Rates
3 Mth 2 Yr 5Yr 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
-••-06/30/2013 .03 .36 1.40 2.49
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Cumulative Cash Income
FY12-13
Cumulative
Millions $
14
12
10
8
(June 2013) Monthly Interest Income
Millions $
1.25 0.84 0.83 0.62 0.7 0.93
0.55 0.53
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
o<3
Interest Income —•--Budget -»-Actual
8
7
6
5
4
3
2
1
0
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City of Carisbad
TRANSACTIONS FOR PERIOD:
04/01/13 TO 06/30/13 4th QUARTER 2012-2013
Trans Investment Call Par Amount Return Investment
Date Date Type Securitv Date Value Coupon (Cost) Rate Interest Return
BUYS
APRIL
03/19/2013 04/05/2013 CD BOSTON PRIVATE BANK 10/04/2013 248,000.00 0.950% 247.008.00 1.032% 12,765.55 259,773.55
03/21/2013 04/17/2013 FA FHLMC 04/17/2014 5,000,000.00 1.100% 4.993,750.00 1.126% 281.250.00 5,275,000.00
04/16/2013 04/18/2013 CD FIRST STATE BANK NE 10/18/2013 249,000.00 0.950% 248.502.00 1.353% 12.325.50 260,827.50
04/12/2013 04/30/2013 FA FHLB 06/30/2015 4,000,000.00 0.500% 4.000.000.00 0.500% 73.333.33 4.073,333.33
04/09/2013
MAV
04/30/2013 CD FOREST COMMERCIAL BAN! 10/30/2013 249,000.00 0.900% 248.253.00 1.500% 11,997.00 260,250.00
MAY
05/06/2013 05/07/2013 FA FHLB 09/20/2013 3,000,000.00 1.050% 3,000,000.00 1.050% 153.387.50 3,153,387.50
05/07/2013 05/07/2013 FA FHLB 03/20/2015 3,000.000.00 1.000% 3,000,000.00 1.000% 146.083.33 3,146.083.33
05/08/2013 05/08/2013 FA FHLB 02/20/2014 1,000,000.00 1.100% 1,000,774.00 1.080% 51.842.67 1,052.616.67
05/02/2013 05/28/2013 FA FNMA 05/28/2014 5,000,000.00 0.500% 4,997,500.00 0.514% 90,000.00 5.087.500.00
05/09/2013 05/28/2013 FA FHLMC 05/28/2015 5,000,000.00 0.750% 5.000.000.00 0.750% 168,750.00 5,168,750.00
05/09/2013 05/15/2013 CN BERSHIRE HATHAWAY N/A 5,000,000.00 1.300% 5.019.345.05 1.220% 305,654.95 5,325,000.00
05/22/2013 05/23/2013 FA FHLMC 04/30/2014 3,000,000.00 1.050% 3.000.000.00 1.050% 155,487.50 3,155,487.50
05/29/2013 05/30/2013 FA FHLB 07/04/2013 3,000,000.00 1.050% 2,964,750.00 1.293% 193,100.00 3.157,850.00
JUNE
05/22/2013 06/12/2013 FA FHLMC 09/12/2013 3,000,000.00 1.200% 2,999.100.00 1.206% 180.900.00 3,180,000.00
05/22/2013 06/20/2013 FA FHLB 04/30/2014 5,000,000.00 1% STEP 5.000.000.00 1.232% 343.750.00 5,343.750.00
06/11/2013 06/13/2013 FA FNMA 12/13/2013 5,000,000.00 0.8%STEF 4.930.000.00 1.407% 351,250.00 5,281,250.00
06/11/2013 06/20/2013 FA FHLMC 12/20/2013 4,000,000.00 0.570% 3,984,400.00 0.702% 84,000.00 4,068,400.00
06/18/2013 06/20/2013 FA FNMA 12/20/2013 4,000,000.00 1.250% 3,977,200.00 1.360% 272,800.00 4,250,000.00
05/29/2013 06/26/2013 FA FHLMC 09/26/2013 5,000,000.00 1.400% 4,997,500.00 1.410% 352,500.00 5,350,000.00
TOTAL FOURTH QUARTER 2012-2013 63,746.000.00 63.608.082.05 1.057% 3.241,177.33 66,849,259.38
MATURITIES
APRIL
04/24/2008 CN MET UFE GLOBAL N/A 1,000.000.00 5.125% 1.003,232.48 5.050% 251.024.46 1,254,256.94
05/07/2008 CN MET LIFE GLOBAL N/A 2,000,000.00 5.125% 2.019.402.04 4.900% 485.410.46 2,504,812.50
05/12/2009 CN WAL-MART N/A 1,000,000.00 4.250% 1,047,829.91 2.950% 118.982.59 1.166.812.50
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05/30/2008 CN ALL STATE LIFE N/A 2,000.000.00 5.375% 2,023,559.81 5.100% 504.981.86 2.528.541.67
MAY
10/20/2009 FA FHLMC N/A 500.000.00 4.250% 536,967.86 2.100% 39.296.03 576.263.89
05/09/2008 CN NEW YORK LIFE N/A 1.000,000.00 4.650% 1,006,649.66 4.500% 225.850.34 1,232.500.00
02/11/2011 CN NEW YORK LIFE N/A 2,000,000.00 4.650% 2.150.000.00 1.250% 58.733.33 2,208,733.33
12/23/2008 CN BERKSHIRE HATHWAY N/A 1,000,000.00 4.600% 1.023.835.68 4.000% 177.542.10 1,201,377.78
JUNE
10/20/2009 FA FHLMC N/A 500,000.00 4.000% 532.794.50 2.120% 40,094.39 572,888.89
11/10/2008 FA FHLB N/A 1.000.000.00 5.375% 1.065.788.37 3.800% 181,163.02 1,246,951.39
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City of Carisbad
TRANSACTIONS FOR PERIOD:
04/01/13 TO 06/30/13 4th QUARTER 2012-2013
Trans Investment Call Par Amount Return Investment
Date Date Tvpe Securitv Date Value Coupon (Cost) Rate Interest Return
JUNE MATURITIES CONTINUED
08/13/2009 FA FHLB N/A 2.000,000.00 4.250% 2,130,988.00 2.450% 195,081.44 2,326,069.44
05/25/2010 FA FFCB N/A 2,000,000.00 1.375% 1,993.760.00 1.479% 91,031.67 2,084,791.67
12/28/2009 FA FHLB N/A 2,000,000.00 1.850% 1.987.226.45 2.040% 142,273.55 2,129,500.00
03/09/2010 FN FICO N/A 2,000,000.00 0.000% 1.882,080.00 1.850% 117,920.00 2,000,000.00
TOTAL FOURTH QUARTER 2012-2013 20,000,000.00 20,404,114.76 3.024% 2,629,385.24 23,033,500.00
CALLS
APRIL
04/26/2012 FA FFCB 04/25/2013 3,000,000.00 1.200% 2,998,200.00 1.212% 181,700.00 3,179,900.00
05/02/2012 CN TOYOTA 04/30/2013 4,000,000.00 0.5%STEP 4,000,000.00 0.500% 119,888.89 4,119,888.89
MAY
05/10/2012 FA FNMA 05/10/2013 5,000,000.00 1.300% 5,000.000.00 1.300% 325,000.00 5,325,000.00
01/17/2013 FA FHLMC 05/14/2013 3,200.000.00 1.000% 3,200.000.00 1.000% 146.400.00 3.346.400.00
06/04/2012 FA FNMA 05/17/2013 4,000,000.00 0.625% 4,000,000.00 1.566% 313.819.44 4.313,819.44
06/01/2012 FA FNMA 05/17/2013 4,000,000.00 0.500% 4,000.000.00 1.102% 164.222.22 4,164,222.22
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
06/06/2012 FA FNMA 05/23/2013 2,000,000.00 1.000% 1,999,000.00 1.011% 90.277.78 2,089,277.78
05/24/2012 FA FHLMC 05/24/2013 5.000.000.00 1.200% 4,995,000.00 1.221% 305,000.00 5,300,000.00
05/29/2012 FA FNMA 05/29/2013 5,000.000.00 0.650% 5.000.000.00 0.650% 97.500.00 5,097,500.00
05/24/2012 FA FHLMC 05/24/2013 5.000.000.00 1.200% 5,000.000.00 1.221% 300,000.00 5,300,000.00
JUNE
06/04/2012 FA FNMA 06/04/2013 3.900,000.00 0.710% 3,900,000.00 0.710% 96.915.00 3.996.915.00
07/05/2012 FA FHLMC 06/07/2013 1,000,000.00 1.150% 999.750.00 1.155% 56,855.56 1,056,605.56
06/07/2012 FA FHLMC 06/07/2013 4.000.000.00 1.300% 4,000,000.00 1.300% 260,000.00 4,260,000.00
TOTAL FOURTH QUARTER 2012-2013 54,100,000.00 54.093,300.00 1.078% 2,548,763.61 56,642,063.61
INVESTMENT REPORT
AS OF JUNE 30,2013
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
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
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
06/20/2012 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
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
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 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
06/20/2013 FA FHLMC .57% CALL 12/20/13 QRTLY 4,000,000.00 3,984,400.00 0.702% 84,000.00 4,068,400.00 1,096
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
05/28/2013 FA FNMA .50% CALL 5/28/14 QRTYLY 5,000,000.00 4,997,500.00 0.514% 90,000.00 5,087,500.00 1,280
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INVESTMENT REPORT
AS OF JUNE 30,2013
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
05/30/2012 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
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
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% 180,000.00 4,180,000.00 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
05/28/2013 FA FHLMC .75% CALL 5/28/15 ONE TIME 5,000,000.00 5,000,000.00 0.750% 168,750.00 5,168,750.00 1,645
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
05/08/2013 FA FHLB 1.10% CALL 2/20/14 CONT 1,000,000.00 1,000.774.00 1.080% 51,842.67 1,052,616.67 1,749
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
05/07/2013 FA FHLB 1.00 CALL 3/20/15 CONT 3,000,000.00 3,000,000.00 1.000% 146,083.33 3,146.083.33 1,778
05/07/2013 FA FHLB 1.05 CALL 9/20/13 CONT 3.000,000.00 3,000,000.00 1.050% 153,387.50 3,153,387.50 1,778
04/17/2013 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
05/23/2013 FA FHLMC 1.050% CALL 4/30/14 QRTLY 3,000,000.00 3,000,000.00 1.050% 155,487.50 3,155,487.50 1,803
05/30/2013 FA FHLB 1.050% CALL 7/4/13 CONT 3,000,000.00 2,964,750.00 1.050% 193,100.00 3,157,850.00 1,831
06/12/2013 FA FHLMC 1.20% CALL 9/12/13 QRTLY 3,000,000.00 2,999,100.00 1.206% 180,900.00 3,180,000.00 1,826
06/13/2013 FA FNMA 0.80% CALL 12/13/13 QRTLY STEP 5,000,000.00 4,930,000.00 1.407% 351,250.00 5.281,250.00 1,826
06/20/2013 FA FHLB 1.0% CALL 9/20/13 QRTLY STEP 5,000,000.00 5,000,000.00 1.232% 309,375.00 5,309,375.00 1.826
06/20/2013 FA FNMA 1.25% CALL 12/20/13 QRTLY 4,000,000.00 3,977,200.00 1.360% 272,800.00 4.250,000.00 1.826
06/26/2013 FA FHLMC 1.40% CALL 9/26/13 5,000,000.00 4,997,500.00 1.410% 352,500.00 5,350,000.00 1,826
SUB-TOTAL 282,466,000.00 284,802,810.41 1.106% 14,146,393.68 298,949,204.09 -
Six 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
INVESTMENT REPORT
AS OF JUNE 30,2013
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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 FNMA0% 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 12,376,000.00 11,980,844.63 0.825% 710,135.74 12,690,980.37 1,138
Federal Investments Total 294,842,000.00 296,783,655.04 14,856,529.42 311,640,184.46 1,138
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
05/12/2009 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
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
INVESTMENT
DATE
10/31/2011
12/28/2011
01/25/2012
03/09/2012
02/08/2012
05/06/2011
05/16/2011
06/17/2011
09/12/2011
12/04/2012
09/04/2012
10/27/2011
10/11/2011
01/23/2013
10/02/2012
09/22/2011
11/10/2011
01/31/2012
01/31/2012
03/05/2012
08/06/2012
02/16/2012
04/18/2012
06/05/2012
03/08/2013
03/26/2013
05/15/2013
INVESTMENT REPORT
AS OF JUNE 30,2013
PAR
TYPE SECURITY VALUE
CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 1,635,000.00
CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 2,000,000.00
CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 5,000,000.00
CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 3,000,000.00
CN GENERAL ELECTRIC 1.55% NON-CALL FLOATER 5,000,000.00
CN MASS MUTUAL GLOB 3.125% NON-CALL 1,000,000.00
CN GENERAL ELECTRIC 2.95% NON-CALL 2,000,000.00
CN GENERAL ELECTRIC 2.95% NON-CALL 2,000,000.00
CN GENERAL ELECTRIC 2.95% NON-CALL 1.400,000.00
CN JOHNSON & JOHNSON 2.15% NON-CALL 2,000,000.00
CN GOOGLE 2.125% NON-CALL 1,000,000.00
CN PROCTER & GAMBLE 1.45% NON-CALL 5,000,000.00
CN BERKSHIRE HATHAWAY 2.20% NON-CALL 5,000,000.00
CN PROCTER & GAMBLE 1.45% NON-CALL 1,000,000.00
CN COCA COLA CA 1.8% NON-CALL 3,000,000.00
CN TOYOTA 2.0% NON-CALL 5,000,000.00
CN NEW YORK LIFE 2.45% NON-CALL 3,550,000.00
CN BERSHIRE HATHAWAY 1.90% NON-CALL 5,000,000.00
CN HSBC BANK USA 2.5% FLOATING RATE 5,000,000.00
CN BERSHIRE HATHAWAY 1.90% NON-CALL 2,850.000.00
CN IBM CORP 1.250% NON-CALL 5,000,000.00
CN WESTPAC BANKING CORP 2.3% NON-CALL 5,000,000.00
CN WAL-MART STORES 5.375% NON-CALL 3,000,000.00
CN HSBC BANK USA 1.925% FLOATER 5,000,000.00
CN WAL-MART 5.8% 3,000,000.00
CN COCA COLA CA 1.150% MAKE-WHOLE CALL 1,000,000.00
CN BERKSHIRE HATAWAY 1.30% MAKE WHOLE CALL 5,000,000.00
INVESTED
AMOUNT
1,695,247.73
2,063,239.83
5,189,924.57
3,169,646.15
5,000,000.00
1,024,175.57
2,000,912.32
2,009,952.38
1,427,513.33
2,104,120.00
1,050,940.00
5,011,536.25
5,022,855.25
1,025,260.00
3,133,106.35
5,023,645.00
3,669,194.08
5,047,739.83
5,000,000.00
2,914,809.00
5,077.000.00
5,000,000.00
3,568,354.19
5,000,000.00
3,669.120.00
1,000,000.00
5,019,345.05
RETURN
RATE
2.200%
2.300%
2.120%
1.600%
1.390%
3.125%.
2.940%)
2.840%
2.500%
0.621%
2.125%)
1.400%
2.100%
0.730%
0.650%
1.900%
1.700%
1.700%
1.748%
1.418%.
0.900%
2.300%
1.400%
1.507%
1.140%
1.150%
1.220%)
INTEREST
154,062.17
189,017.11
428,999.04
190,249.68
227,500.00
130,164.71
292,940.46
278,819.84
164,875.84
44,110.56
6,197.92
336,463.75
510,033.64
26,376.11
78,243.65
474,410.56
287,655.64
427,260.17
425,000.00
200,676.42
204,250.00
574,680.56
229,833.31
380,000.00
189,763.33
57,627.78
305,654.95
INVESTMENT
RETURN
1,849,309.90
2,252,256.94
5,618,923.61
3,359,895.83
5,227,500.00
1,154,340.28
2,293,852.78
2,288,772.22
1,592,389.17
2,148,230.56
1,057,137.92
5,348,000.00
5,532,888.89
1,051,636.11
3,211,350.00
5,498,055.56
3,956,849.72
5,475,000.00
5,425,000.00
3,115,485.42
5,281,250.00
5,574,680.56
3,798,187.50
5,380,000.00
3,858,883.33
1,057,627.78
5,325,000.00
SUB-TOTAL 164,384,000.00 169,632,591.60 1.484% 10,311,778.45 179,944,370.05
TERM
(Davs)
1,533
1,475
1,447
1,403
1,461
1,805
1,820
1,788
1,701
1,258
1,353
1,754
1,770
1,300
1,430
1,820
1,708
1,827
1,827
1,793
1,645
1,826
1,813
1,826
1,805
1,832
1,826
1,480
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
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
INVESTMENT REPORT
AS OF JUNE 30,2013
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
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
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
\S 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
INVESTMENT REPORT
AS OF JUNE 30,2013
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
12/24/2012 CD DELTA NATL BANK & TRUST .90% 249,000.00 248,377.50 0.952% 11,624.88 260,002.38 1,792
12/24/2012 CD PACIFIC CONTL BANK .90% 249,000.00 248,452.20 0.946% 11,556.33 260,008.53 1,793
12/11/2012 CD BANCO POPULAR DE PR HATO 1.1% 248,000.00 248,000.00 1.100%o 13,595.16 261,595.16 1,820
12/17/2012 CD FIRST AMERICAN BANK 1.0% 249,000.00 248,253.00 1.000% 13,128.78 261,381.78 1,816
12/14/2012 CD FIRST BANK OF PUERTO RICO 1.25% 249,000.00 249,000.00 1.250% 15,562.50 264,562.50 1,826
12/14/2012 CD BANKERS BANK KANSAS 1.0% 249,000.00 248,502.00 1.000% 12,948.00 261,450.00 1,826
01/16/2013 CD THE BANK OF HOLLAND 1.00% 249,000.00 248,751.00 1.000% 12,699.00 261,450.00 1,826
01/16/2013 CD BANK OF NORTHERN MICHIGAN 1.00% 249,000.00 248,751.00 1.000% 12,699.00 261,450.00 1,826
01/18/2013 CD STEARNS BANK .90% 249,000.00 248,253.00 1.000% 11,952.00 260,205.00 1,826
01/23/2013 CD FIRST FARMERS BANK & TRUST 1.0% 249,000.00 248,626.50 1.000%. 12,823.50 261,450.00 1,826
03/04/2013 CD GATEWAY BANK OF SW FLORIDA .95% 209,000.00 208,373.00 1.070% 10,367.28 218,740.28 1,792
01/30/2013 CD FARMERS & MERCHANTS BANK .90% 249,000.00 248,253.00 0.900%, 11,952.00 260,205.00 1,826
03/28/2013 CD WASHINGTON FEDERAL SAVINGS 1.0% CALL 249,000.00 248,253.00 1.000% 13,197.00 261,450.00 1,826
04/05/2013 CD BOSTON PRIVATE BANK & TRUST .95% CALL 248,000.00 247,008.00 1.032%) 12,765.55 259,773.55 1,825
04/18/2013 CD FIRST STATE BANK NE .95% CALL 249,000.00 248,502.00 0.991%) 12,325.50 260,827.50 1,826
04/30/2013 CD FOREST COMMERCIAL BANK .90% CALL 249,000.00 248,253.00 0.960%, 11,952.00 260,205.00 1,826
SUB-TOTAL 17,308,000.00 17,289,851.74 0.893%) 541,897.53 17,831,749.27 1,207
0 WELLS FARGO BANK 647,355.00 647,355.00 0.020% 0.35 647,355.35
0 CORPORATE CASH MANAGEMENT ACCOUNT 6,073,904.50 6,073,904.50 0.020%o 3.33 6,073,907.83 1
0 LIBRARY ACCOUNT 258.85 258.85 0.000% -258.85 1
0 UNION TRUST 440.21 440.21 0.000%o -440.21 1
O LAIF WATER DISTRICT 40,733,000.00 40,733,000.00 0.250% 282.87 40,733,282.87 1
O LAIF PUBLIC IMPROVEMENT CORPORATION 36,623,466.00 36,623,466.00 0.250% 254.33 36,623,720.33 1
0 LAIF PUBLIC FINANCING CORPORATION 37,885,000.00 37,885,000.00 0.250% 263.09 37,885,263.09 1
0 LAIF CITY OF CARLSBAD 34,187,000.00 34,187,000.00 0.250%) 237.41 34,187,237.41
SUB-TOTAL 156,150,424.56 156,150,424.56 0.240%) 1,041.38 156,151,465.94
GRAND TOTAL 634,684,424.56 641,918,632.19 0.988% 25,951,816.77 667,870,448.96
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF JUNE 30, 2013
Cash Balance by Fund:
General 93,673,257
Special Revenue 42,552,041
Debt Service 0
Capital Projects:
General Capital Construction 47,013,733
Traffic Impact Fees 20,993,983
Public Facilities Fees 41,501,999
Park Development 4,265,991
Transnet Taxes 5,047,908
Drainage Fees 5,842,558
Special Districts 87,503,921
Infrastructure Replacement 76,650,753
Redevelopment (see Trust Funds) 0
Other Capital Construction 2,592,058
Total 291,412,906
Enterprise:
Carlsbad Municipal Water District 92,530,938
Sewer Fund 52,100,236
Solid Waste 7,223,005
Stormwater 3,173,100
Golf Course 8,562
Total 155,035,841
Internal Service 35,172,248
Agency Funds 17,068,351
Trust Funds 1,040,033
Total General Ledger Balance ** 636,954,677
Reconciling Adjustments (1) 2,576,749
Total Treasurer's Investment Portfolio at Amortized Cost 638,531,426
(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 07/17/13
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As Of JUNE 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)
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+
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 *
BARCLAYS BANK
GENERAL ELECTRIC
HSBC BANK USA
MERCK
Moodv's S&P
Latest
Maturitv Date
Carrying
Value
Market
Value
A2 A+ 12/15/2015 2,000,000 2,037,300
Al AA+ 05/09/2016 19,393,317 19,713,978
A1 AA-06/05/2017 10,000.000 9,742,500
A1 AA 06/30/2015 5,266,420 5,325,550
* The City's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions
to the policy. All of these investments are paying interest at the required times. The principal of all investments are
considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events
indicate they should be sold.
EXHIBIT 10
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF JUNE 30, 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 0.31%
BERKSHIRE HATHAWAY 23,416,919.14 3.65%
COCA COLA CO 4,133,106.35 0.64%
GENERAL ELECTRIC CAP 19,390,658.05 3.02%
GENERAL ELECTRIC COMPANY 8,032,665.00 1.25%
GOOGLE 1,050,940.00 0.16%
HSBC BANK USA 10,000,000.00 1.56%
IBM CORP 8,581,305.00 1.34%
JOHNSON & JOHNSON 2,104,120.00 0.33%
MASS MUTUAL 3,607,914.95 0.56%
MERCK & CO 5,498,750.00 0.86%
MET LIFE GLOBAL FUND 19,221,511.93 2.99%
MICROSOFT 2,072,820.00 0.32%
NEW YORK LIFE 8,691,145.24 1.35%
PROTER & GAMBLE 13,392,464.17 2.09%
PROVIDENCE HEALTH 2,237,929.50 0.35%
ROYAL BANK OF CANADA 2,038,220.00 0.32%
3M 2,121,417.76 0.33%
SHELL INTERNATIONAL FIN 5,384,350.00 0.84%
TOYOTA 5,023,645.00 0.78%
WAL-MART 16,632,709.55 2.59%
WESTPAC BANKING CORP 5,000,000.00 0.78%
PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER
Investment Cost Percent of Portfolio**
FAMCA 15,016,370.00 2.34%
FICO 1,027,655.32 0.16%
FEDERAL FARM CREDIT BANK 47,854,273.03 7.45%
FEDERAL HOME LOAN BANK 90,075,924.01 14.03%
FEDERAL HOME LOAN MORTGAGE CORP 46,535,226.00 7.25%
FEDERAL NATIONAL MORTGAGE ASSOC 92,174,791.03 14.36%
TVA 4,099,415.64 0.64%
U.S.TREASURY 2,062,109.25 0.32%
Total Portfolio $641,918,632.19
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
June 30, 2013
Fund Type Investments
Stated Int.
Rate
Maturity
Date Par Value Cost Source
Assessment District 03-01 (College/Cannon)
Project Fund Invesco Prime-Cash Money Market N/A N/A $ 927,642 $
Fiscal Agent:
927,642
BNY Mellon
Invesco
Re-Assessment District 97-01 (Alga Road & College Blvd)
Imprvmnt Fund - Alga Invesco Prime-Cash Money Market N/A N/A $ 278.294 $
Fiscal Agent: US Bank
278.294 Invesco
Assessment District 95-01 (Carlsbad Ranch)
Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC) 5.83% N/A $ 887.653 $
Fiscal Agent: BNY Mellon
887,653 HSBC Bank of New York
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: BNY Mellon
1,292,770 HSBC Bank of New York
ReAssessment District 2012-1 (College/Cannon & Poinsettia Lane)
Reserve Fund BNY Goldman Sachs FS Money Market
Other BNY Goldman Sachs FS Money Market
vanous
various
N/A $
N/A $
2,162.012 $
6.002 $
Fiscal Agent:
2.162.012
6,002
BNY Mellon
BNY Mellon
BNY Mellon
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
5.36% 08/01/14 $
N/A
various
N/A $
09/01/36 $
953,706 $
1,834,855 $
777,965 $
Fiscal Agent: BNY Mellon
953.706 GIC
Fiscal Agent:
1.834,855
777,965
BNY Mellon
Invesco
BNY Mellon
Communities Facilities District #3 Improvement Area 2
Reserve Fund BNY Dreyfus Money Market
Other BNY Dreyfus Money Market
vanous
various
09/01/38 $
N/A $
1,068.180 $
86,282 $
Fiscal Agent:
1,068,180
86,282
BNY Mellon
BNY Mellon
BNY Mellon
CPFA Golf Course Bonds
Reserve Fund BNY Mellon (GIC)
H:\Long Term Debt\Quarterly Investment Reports\Qtr Inv Rpt.xisx
various N/A $ 1,270,064 $
Fiscal Agent: BNY Mellon
1,270,064 BNY Mellon
$ 11,545,425 $ 11,545,425
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City of Carlsbad
Summary of Outstanding Housing Loans
As of June 30,2013
Updated on: 07/23/2013
Borrower Development Purpose
Loan amount
Loans issued by City to Loam issued by due to City Developer loan
First date # of loans developers/ Developer to # of loans City loan repaid to Developer loan (recorded as amount due to City
issued issued homeowners homeowners outstanding City repaid to City AR) (not on City's books)
Individual homebuyers
Individual homebuyers
Individual homebuyers
Individual homebuyers
Individual homebuyers
Individual homebuyers
Catholic Charities
Citv-wide (CHAP Sale
Calavera Hills Sale
Cherry Tree Wal: Sale
Serrano Sale
Rancho Carlsba< Sale
Solamar Sale
Homeless shelte Shelter
CB Laurel Tree Apartments Laurel Tree Rentals
USA Properties
Pacific Vista Las Flores
Poinsettia Housing Assoc
Bridge Housing Corp
Dove Family Housing
CIC Calavera LP
Individuat homebuyers
Individual homebuyers
El Camino Family Housing Cassia Heights Rentals
Individual homebuyers Laguna Point Sale
Individual homebuyers The Bluffs Sale
Koosevelt
Individual homebuyers Gardens Sale
Rancho Carrillo Rentals
Vista Las Flores Rentals
Poinsettia Statior Rentals
Villa Loma Rentals
La Costa Paloms Rentals
Mariposa Apts Rentals
Mulberry at
Bressi Ranch Sale
Village by the
Sea Sale
CIC La Costa
uown Payment & Closing cost
Hunter's Point Rentals
06/28/99
10/15/99
06/28/99
05/25/01
05/20/99
09/26/88
09/19/97
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
08/19/08
06/25/09
133
5
42
90
22
9
1
2
1
100
11
1
3
$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
246,050
150,000
452,600
4,050,000
19,660,200
4,087,200
29
1
0
1
1
100
7
($1,540,022) $
(60,000)
(313,200) (283,250)
$139,977.52 $
(120,000) 15,000
(945,133) (2,610,000)
(438,337)
(135,065)
(1,003,320)
(13,000)
(144,784)
(2,212,000)
(1,486,204)
140,400
404,867
314,196
12,661
200,000
130,680
1,144,585
363,948
775,216
583,796
1,060,000
1,840,000
220,000
1,454,276
210,000
200,000
1,583,423
1,932,000
246,050
Payment deferred 15 years. No interest is due
139,978 unless home is sold t>efore 16th year
Payment deferred 30 years. No interest is due
30,000 45,000 unless home is sold before 31th year
Payment deferred 30 years. No Interest is due
169,350 309,750 unless home is sold before 31th year
Haynient deterred 3U years. No interest is due
1,440,000 1,844,867 unless home is sold before 31th year
314,196 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
130,680 years when surplus cash is available
Principal and 3% interest each year for 55
1,144,585 years when surplus cash is available
Principal and 3% interest each year for 55
363,948 years when surplus cash is available
Principal and 3% interest each year for 55
775,216 years when 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
583,796 years v/hen surplus cash is available
Principal and 3% interest each year for 55
1,060,000 years wtien surplus cash is available
Payment deferred 30 years. No interest is due
19,660,200 21,500,200 unless home is sold before 311h year
Payment deferred 30 years. No interest is due
4,087,2(H) 4,307,200 unless home is sold t>efore 31th year
Principal and 3% interest each year for 55
1,454,276 years when surplus cash is available
Payment deferred 45 years. No interest is due
210,(X)0 unless home is soid before 46th year
Payment deferred 30 years. No interest is due
200,000 unless home is sold before 31th year
Keter to Agenda am 1 b,M>9 / Kesolution 2006-
1,583,423 131 & AB 19,183 / R2007-255
1,932,000 Refer to AB18,251 / Resolution 2005-264
Keter to Agenda bill 19,416 / Kesolution 2008-
246,050 121
CIC Glen Ridge, LP
lavarvia senior Apartments,
LP
North County Solutions for
Change
Catholic Charities
Individual homeowners
Hospice of North Coast
Glen Ridge
Properly
Acquisition
Rentals
Rentals
Rentals
Homeless shelte Shelter Minor
N/A
N/A
Carol-Harding
Harding Street Neighbors, LP Duplex
10/05/09
12/14/11
06/28/12
03/01/10
05/20/10 Home
Property
Acquisition 02/27/13
Property
Acquisition 03/14/13
1,014,000
780,000
493,810
28,593
1,065,000
7,408,000
1,014,000
(2,083)
493,810
26,510
1,065,000
7,408,000
1,014,000 Refer to Agenda Bill 397 / Resolution 435
Refer to Agenda Bill 418 / Resolution 475
Refer to Agenda Bill 20,936/Resolution 2012-
780,000 136
Refer to AB19,768/R2009-068;
493,810 AB20,530/R2011-081; AB20,764/R2011-288
26,510 Refer to AB19,415 / Resolution 2008-121
1,065,000 Refer to AB21,116/Resolution 2013-027
7,408,000 Refer to AB21,028/Resolution 2012-235
30,922,928 $ (8,293,147) $ (3,013,250) $22,629,780 $ 25,386,750 $ 49,145,146
During the 4th Qtr of FY2012-13, $14,376 in CHAP loans payments were received; a $33,967 pay-off related to the Rancho Carisbad development was received; a $2,083 Minor Home Repair payment was received and $2,917 was forgiven; a $15,0(X) pay-off related to the Serrano
development was received; issued $32,100 in Down Payment & Closing Cost Assistance loans, transferred the $3.75 million Tavarua loan to the Successor Agency per the state Department of Finance.
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