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HomeMy WebLinkAbout2013-12-03; City Council; 21445; Report on City Investments October 31, 2013CITY OF CARLSBAD - AGENDA BILL AB# 21.445 REPORT ON CITY INVESTMENTS DEPT. HEAD ^lUy MTG. 12/3/13 AS OF OCTOBER 31, 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 October 31, 2013 is summarized below. Pooled Investment Portfolio (Cash and Securities) Current Month Prior Month Par Value 617,888,668 621,282,590 Cost of Investments 623,907,566 627,716,165 Amortized Cost (1) 620,904,869 624,484,969 Market Value (2) 621,832,588 624,171,139 (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 10/31/13. The equity portion ofthe various funds in the total portfolio is summarized in the graph below. Fund balances are restricted for various purposes. See Exhibit 8 for a more detailed breakdown. FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) General $^9 Internal Service $38 Agency/Trust $15 Enterprise jjg^ Special Revenue $44 Capital Projects $296 Total Treasurer's Investment Portfolio at Amortized Cost October 31,2013 $621 million COUNCIL ACTION: FOR CITY CLERKS USE ONLY. APPROVED • CONTINUED TO DATE SPECIFIC • _ DENIED • CONTINUED TO DATE UNKNOWN • CONTINUED • RETURNED TO STAFF • WITHDRAWN • OTHER-SEE MINUTES vQ^ AMENDED • Council accepted the report. DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan(@carlsbadca.gov PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF OCTOBER 31. 2013 Pooled Investment Interest Income Current Month FYTD Prior Month FYTD Current Month Income Cash Income Fiscal Year-to-Date * 2,974,557 2,184,793 789,764 'The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement Average Life (Years) Average Yield To Maturity Modified Duration August 2013 2.22 1.010% 2.143 September 2013 2.26 1.015% 2.187 October 2013 2.27 1.018% 2.199 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. Second 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 OCTOBER 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 15,805,727 16,302,308 15,779,991 16,266,875 52,470 0.90 0.90 FN 12,300,441 12,289,780 12,359,724 12,356,002 0 0.83 0.83 TR 0 0 0 0 15,625 0.00 0.00 FA 298,007,433 297,591,030 297,529,099 296,140,154 1,313,540 1.10 1.10 CN 170,197,600 170,311,260 171,570,104 171,417,517 1,417,668 1.45 1.45 LAIF 121,810,143 122,872,816 121,810,143 122,872,816 175,016 0.27 0.27 CUSTODY 16,912 133,263 16,912 133,263 3 0.00 0.00 SWEEP 2,155,216 4,580,652 2,155,216 4,580,652 235 0.02 0.02 BANK ACCT 611,397 403,860 611,397 403,860 0 0.02 0.02 TOTALS $620,904,869 $624,484,970 $621,832,588 $624,171,140 2,974,557 1.02% 1.02% CD - Certificate of Deposit FN - Federal Discount Notes 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 Fimd Cash account td X H ro H H3 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF OCTOBER 31, 2013 BREAKDOWN OF MA TURITIES B Y CLASSIFICA TION AND LENGTH OF TIME CLASS WITHIN 6 MONTHS CD FN TR FA CN LAIF CUSTODY SWEEP BANK ACCT _ TOTALS % TOTALS Total within One Year 247,000 4,099,416 0 5,076,478 8,127,128 121,810,143 16,912 2,155,216 611,397 $142,143,689 (1) 22.8% 7 MONTHS TO 1 YEAR 4,221,502 7,881,429 0 15,925,520 13,735,742 0 0 0 0_ $41,764,193 (1) 6.7% $183,907,882 (1) 29.5% 1 TO 5 YEARS 11,332,350 0 0 278,043,486 150,623,848 0 0 0 0_ $439,999,683 70.5% TOTAL % TOTAL 15,800,852 11,980,845 0 299,045,483 172,486,718 121,810,143 16,912 2,155,216 611,397 $623,907,566 100.0% POLICY: (1) Not less than $ 140,781,000 to mature within one year. (2/3rds of current year operating budget of $211,172,000.00) (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes. 2.5% 1.9% 0.0% 47.9% 27.7% (2) 19.5% 0.0% 0.4% 0.1% 100.0% td X ffi H ro YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1999 - OCTOBER 2013 ^EX-LAIF -^LAIF I I I I I M I I I M I I I I M I I I M I I I I I I I I I M I I M I I I I I I M I I I I I I I I I I I I I I I I I I I I I I I I I I I M I I I I I I I I I I M I M I I M I I I M I I I I I I I M I I I I I M M I I I I I I I I I I I I I I I I I I ^ td MARKET YIELD CURVE 6/30/12,6/30/13, 10/31/13 Market Rates 3 Mth 2 Yr 5 Yr 10 Yr 3 Mth 2 Yr 5 Yr 10 Yr —06/30/2012 .07 .25 0.62 1.45 06/30/2013 .03 .36 1.40 2.49 -10/31/2013 .04 .31 1.33 2.55 td X ffi H ro H H3 Cumulative Millions $ Cumulative Cash Income FY13-14 (October 2013) Montlily Interest Income Millions $ 10 8 6 5 2 1 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Interest Income --^-Budget Actual YTD 8 7 6 5 4 3 2 1 0 td X ffi H ro H Ul TRANSACTIONS FOR PERIOD: 10/01/13 TO 10/31/13 2nd QUARTER 2013-2014 Trans Investment Date Date BUYS OCTOBER 10/09/2013 10/10/2013 10/09/2013 10/17/2013 10/15/2013 10/17/2013 10/29/2013 10/30/2013 10/29/2013 10/30/2013 Type FA FHLMC FA FFCB FA FHLB FA FNMA FA FNMA Security Call Date 06/20/2014 10/17/2014 01/17/2014 01/26/2014 12/28/2013 Par Value Coupon Amount (Cost) 3,000,000.00 1.000% 2,973,000.00 TOTAL SECOND QUARTER 2013-2014 2,000,000.00 2,000,000.00 1,500,000.00 2,000,000.00 lO.SOO.OOO.OOT 0.830% 1.450% 0.850% 0.750% 1,999,000.00 1,996,500.00 1,499,625.00 1,978,600.00 Return Rate 1.250% 0.847% 1.495% 1.383% 1.049% Interest 137,833.33 50,800.00 119,500.00 78,045.83 76,316.67 Investment Return 3,110,833.33 2,049,800.00 2,116,000.00 1,577,670.83 2,054,916.67 10,446,725.00 1.201% 462,495.83 10,909,220.83 MATURITIES OCTOBER 02/23/2010 10/19/2011 04/15/2010 10/19/2009 NOVEMBER FA FA FA FA FFCB FNMA FHLB FFCB 10/04/2011 FN TENNESSEE VALLEY AUTHORIT TOTAL SECOND QUARTER 2013-2014 N/A N/A N/A N/A N/A 1,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 3.875% 1.125% 2.000% 5.350% 1,065,180.00 5,061,150.00 2,000,000.00 2,235,072.36 2.000% 0.500% 2.000% 2.264% 4,143,000.00 0.000% 4,099,415.64 0.510% 75,181.11 49,631.25 140,000.00 193,522.08 1,140,361.11 5,110,781.25 2,140,000.00 2,428,594.44 87,168.72 4,186,584.36 14,143,000.00 14,460,818.00 1.093% 545,503.16 15,006,321.16 CALLS OCTOBER NONE TOTAL SECOND QUARTER 2013-2014 00 td X ffi H ro H INVESTMENT REPORT AS OF OCTOBER 31,2013 ESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs) 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 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 09/10/2013 FA FNMA .50% CALL 11/27/13 ONE TIME 3,000,000.00 2,991,765.00 0.625% 41,443.33 3,033,208.33 808 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 09/24/2013 FA FNMA 1.35% CALL 3/24/14 QRTLY 3,000,000.00 2,994,000.00 1.409% 147.750.00 3.141.750.00 1,277 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 09/12/2013 FA FFCB .95% NON-CALL 1,000,000.00 995.570.00 1.100% 33.009.17 1,028,579.17 1,099 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 10/17/2013 FA FFCB .83% CALL 10/17/14 Cont 2.000.000.00 1.999.000.00 0.840% 50.800.00 2,049,800.00 1,096 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 07/18/2013 FA FNMA 1.0% CALL 2/28/14 QRTLY 1,000.000.00 1,000.000.00 1.000% 33.611.11 1,033,611.11 1,229 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 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 td X ffi H ro H INVESTMENT REPORT AS OF OCTOBER 31,2013 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 09/06/2013 FA FHLMC .70% CALL 5/8/15 ONE TIME 5,000,000.00 4,855,000.00 1.515% 273.527.78 5,128,527.78 1,340 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 10/10/2013 FA FHLMC 1.0% CALL 6/20/14 QRTLY 3,000,000.00 2,973,000.00 1.250% 137.833.33 3,110,833.33 1,349 10/30/2013 FA FNMA .075% CALL 12/28/13 QRTLY 2.000,000.00 1,978,600.00 1.049% 76,316.67 2,054,916.67 1.337 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 10/30/2013 FA FNMA .85% CALL 01/26/14 QRTLY STEP 1,500,000.00 1,499,625.00 1.383% 78,045.83 1,577,670.83 1.365 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 09/18/2013 FA FFCB 1.70% CALL 9/18/14 CONT 3,000,000.00 3,000,000.00 1.700% 204,000.00 3,204,000.00 1.461 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 10/17/2013 FA FHLB 1.45% CALL 1/17/14 CONT 2,000.000.00 1,996,500.00 1.495% 119,500.00 2,116,000.00 1.461 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 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 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 07/09/2013 FA FHLMC 1.50% CALL 10/09/13 QRTLY 1,600,000.00 1,599,520.00 1.506% 120,480.00 1,720,000.00 1,826 07/10/2013 FA FNMA 1.70% CALL 7/14/14 QRTLY 4,000,000.00 4,000,000.00 1.700% 340,000.00 4,340,000.00 1,826 07/17/2013 FA FHLB 1.75% CALL 10/17/13 QRTLY 4,150,000.00 4,147,925.00 1.760% 365,200.00 4,513,125.00 1,826 ^ 07/30/2013 FA FHLB 1.850% CALL 7/30/15 CONT 3,000,000.00 3,000,000.00 1.850% 277,500.00 3,277,500.00 1,826 INVESTMENT REPORT AS OF OCTOBER 31,2013 ESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) SUB-TOTAL 297,716,000.00 299,045,483.17 1.095% 14,758,252.86 313,803,736.03 - 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 12,376,000.00 11,980,844.63 0.825% 710,135.74 12,690,980.37 1,138 Federal Investments Total 310,092,000.00 311,026,327.80 15,468,388.60 326,494,716.40 1,138 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 REPORT AS OF OCTOBER 31,2013 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) 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 09/13/2013 CN TOYOTA .80% NON-CALL 3,000,000.00 2,981,640.00 1.032% 82,626.67 3,064,266.67 977 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 09/10/2013 CN CHEVRON CORP .889% NON CALL 2,000,000.00 1,993,903.80 1.000% 55,682.64 2,049,586.44 1,018 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 05/15/2013 CN BERKSHIRE HATAWAY 1.30% MAKE WHOLE CALL 5,000,000.00 5,019,345.05 1.220% 305,654.95 5,325,000.00 1,826 SUB-TOTAL 167,384,000.00 172,486,717.64 1.454% 10,198,901.35 182,685,618.99 1,462 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 0 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 INVESTMENT REPORT AS OF OCTOBER 31,2013 INVESTMENT DATE 08/19/2011 08/24/2011 09/21/2011 09/21/2012 09/23/2011 09/23/2011 10/24/2012 10/24/2012 03/14/2013 04/30/2012 04/20/2012 11/30/2012 06/08/2012 01/11/2012 01/11/2012 10/17/2012 02/06/2013 08/24/2012 08/30/2012 05/09/2012 11/29/2012 01/23/2012 07/27/2012 09/15/2011 10/17/2012 11/07/2012 12/02/2011 01/25/2012 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 PAR INVESTED RETURN INVESTMENT TERM TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days) CD GE CAPITAL FINANCIAL INC 1.15% 248,000.00 248,000.00 1.150% 8,563.81 256,563.81 1,096 CD GOLDMAN SACHS BANK 1.15% 248,000.00 248,000.00 1.150% 8,571.62 256,571.62 1,097 CD TRANSPORTATION ALLIANCE BANK INC .75% 249,000.00 249,000.00 0.750% 5,612.71 254,612.71 1,097 CD CITIZENS STATE BANK .50% 249,000.00 248,751.00 0.550% 2,742.46 251,493.46 731 CD STATE BANK OF INDIA 1.30% 248,000.00 248,000.00 1.300% 9,680.83 257,680.83 1,096 CD BMW BANK OF NORTH AMERICA 1.35% 248,000.00 248,000.00 1.350% 10,053.17 258,053.17 1,096 CD INDEPENDENCE BANK OF KENTUCKY .50% 249,000.00 248,751.00 0.500% 2,739.00 251,490.00 730 CD APPLE BANK FOR SAVINGS .50% 248,000.00 248,000.00 0.500% 2,480.00 250,480.00 730 CD SUNTRUST BANK ATLANTA .28% 200,000.00 198,780.00 0.640% 2,152.35 200,932.35 608 CD STERLING SAVINGS BANK .75% 248,000.00 248,000.00 0.750% 4,749.36 252.749.36 932 CD PLUS INTERNATIONAL .85% 249,000.00 249,000.00 0.850% 5,520.35 254.520.35 952 CD SYNOVUS BANK .5% 248,000.00 248,000.00 0.500% 2,473.11 250.473.11 728 CD HUNTINGTON NATL BANK .75% 248,000.00 248,000.00 0.750% 4,652.55 252.652.55 913 CD SALLIE MAE BANK 1.35% 248,000.00 248,000.00 1.350% 9,869.73 257.869.73 1,076 CD BARCLAYS BANK DELAWARE 1.25% 248,000.00 248,000.00 1.250% 9,308.49 257,308.49 1,096 CD FIRST STATE BANK/MENDOA .50% 249,000.00 248,701.20 0.550% 3,636.09 252,337.29 825 CD KEYBANK NATIONAL ASSOCIATION .45% 248,000.00 248,000.00 0.450% 2,263.00 250,263.00 740 CD BLC COMMUNITY BANK .50% 249,000.00 248,690.24 0.550% 3,427.40 252,117.64 914 CD TRIUMPH BANK .50% 249,000.00 249,000.00 0.500% 3,107.41 252,107.41 911 CD GEORGIA BANK & TRUST .70% 248,000.00 247,628.00 0.750% 5,589.51 253,217.51 1,097 CD UNITED BANKERS BANK .50% 249,000.00 248,676.30 0.550% 3,436.20 252,112.50 911 CD LCA BANK CORPORATION .85% 248,000.00 248,000.00 0.850% 7,375.11 255,375.11 1,277 CD FLUSHING SAVINGS BANK.75% 248,000.00 247,628.00 0.800% 5,951.97 253,579.97 1,095 CD BANK OF THE WEST 1.4% 249,000.00 249,000.00 1.400% 13,943.96 262,943.96 1,460 CD COMEN ITY CAP BANK SALT LAKE CITY .50% 249,000.00 248,601.60 0.550% 4,233.74 252,835.34 1,094 CD EAGLE BANK .60% 249,000.00 249,000.00 0.600% 4,490.30 253,490.30 1,097 CD MIDLAND STATES BANK 1.25% 249,000.00 249,000.00 1.250% 12,450.00 261,450.00 1,461 CD NATIONAL REPUBLIC BANK 1.0% 249,000.00 249,000.00 1.000% 9,966.87 258,966.87 1,461 CD CARDINAL BANK MCLEAN VA .90% 249,000.00 249,000.00 0.900% 8,970.06 257,970.06 1,461 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 CD FIRST BUSINESS BANK .60% 248,000.00 247,578.40 0.600% 5,635.72 253,214.12 1,279 CD NATIONAL BANK OF COMMERCE .50% 249,000.00 248,551.80 0.550% 4,791.87 253,343.67 1,274 CD HERITAGE BANK OF COMMERCE .80% 249,000.00 248,004.00 0.900% 8,953.05 256,957.05 1,459 CD NORTH JERSEY COMMUNITY .85% 248,000.00 247,008.00 0.950% 9,429.77 256,437.77 1,461 CD STATE BANK & TRUST CO MACON, GA .80% 249,000.00 248,004.00 0.900% 8,974.88 256,978.88 1,462 CD CRESCENT BANK & TRUST .90% 249,000.00 248,502.00 0.950% 9,468.06 257,970.06 1,461 CD EVERBANK .90% 248,000.00 247,008.00 0.900% 9,926.11 256,934.11 1,461 CD MERCANTILE BANK OF MICHIGAN 1.15% 248,000.00 247,380.00 1.150% 14,895.62 262,275.62 1,827 CD DELTA NATL BANK & TRUST .90% 249,000.00 248,377.50 0.952% 11,624.88 260,002.38 1,792 CD PACIFIC CONTL BANK .90% 249,000.00 248,452.20 0.946% 11,556.33 260,008.53 1,793 CD BANCO POPULAR DE PR HATO 1.1% 248,000.00 248,000.00 1.100% 13,595.16 261,595.16 1,820 CD FIRST AMERICAN BANK 1.0% 249,000.00 248,253.00 1.000% 13,128.78 261,381.78 1,816 INVESTMENT REPORT AS OF OCTOBER 31,2013 INVESTMENT PAR INVESTED RETURN DATE TYPE SECURITY VALUE AMOUNT RATE 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 15,819,000.00 15,800,851.74 0.903% O WELLS FARGO BANK 610,592.00 610,592.00 0.020% O CORPORATE CASH MANAGEMENT ACCOUNT 2,155,216.47 2,155,216.47 0.020% O LIBRARY ACCOUNT 804.83 804.83 0.000% O UNION TRUST 16,912.46 16,912.46 0.000% 0 LAIF WATER DISTRICT 30,877,194.46 30,877,194.46 0.270% O LAIF PUBLIC IMPROVEMENT CORPORATION 30,958,000.00 30,958,000.00 0.270% 0 LAIF PUBLIC FINANCING CORPORATION 29,475,948.18 29,475,948.18 0.270% 0 LAIF CITY OF CARLSBAD 30,499,000.00 30,499,000.00 0.270% SUB-TOTAL 124,593,668.40 124,593,668.40 0.264% GRAND TOTAL 617,888,668.40 623,907,565.58 1.018% INTEREST 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 INVESTMENT RETURN 264,562.50 261,450.00 261,450.00 261,450.00 260,205.00 261,450.00 218,740.28 260,205.00 261,450.00 259,773.55 260,827.50 260,205.00 519,622.71 16,320,474.45 0 33 610,592 33 1 18 2,155,217 65 804 83 0 00 16,912 46 231 58 30,877,426 04 232 19 30,958,232 19 221 07 29,476,169 25 228 74 30,499,228 74 915 09 124,594,583 49 827 75 650,095,393 33 TERM (Days) 1,826 1,826 1,826 1,826 1,826 1,826 1,792 1,826 1,826 1,825 1,826 1,826 1,258 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF OCTOBER 31,2013 Cash Balance by Fund: General 68,344,308 Special Revenue 43,577,694 Debt Service 0 Capital Projects: General Capital Construction 45,891,004 Traffic Impact Fees 20,900,936 Public Facilities Fees 37,830,212 Park Development 4,321,193 Transnet Taxes 5,798,431 Drainage Fees 5,906,511 Special Districts 88,164,224 Infrastructure Replacement 83,911,431 Redevelopment (see Trust Funds) 0 Other Capital Construction 2,596,270 Total 295,320,211 Enterprise: Carlsbad Municipal Water District 95,940,063 Sewer Fund 51,522,052 Solid Waste 7,235,459 Stormwater 3,914,167 Golf Course 133,711 Total 158,745,451 Internal Service 37,749,268 Agency Funds 14,235,499 Trust Funds 164,826 Total General Ledger Balance ** 618,137,257 Reconciling Adjustments (1) 2,767,612 Total Treasurer's Investment Portfolio at Amortized Cost 620,904,869 (1) The Reconciling Adjustments consist of differences between tlie General Ledger whicli 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 checl<s 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 11/07/13 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As Of OCTOBER 31,2013 CORPORATE NOTE AND COMMERCIAL PAPER RATINGS Corporate Note Investnfients Meeting the Current Investment Policy: (Ratings must be AA or better by two of the three: Moody's S&P or Fitch) Moodv's S&P Fltch BERKSHIRE HATHAWAY AA2 AA+ A+ CHEVRON AA1 AA NR COCA COLA AAS AA-A+ GENERAL ELECTRIC COMPANY AA3 AA+ NR GOOGLE INC AA2 AA NR HSBC BANK USA A1 AA-AA- IBM CORP AAS AA-A+ JOHNSON & JOHNSON AAA AAA AAA MASS MUTUAL GLOBAL AA2 AA+ AA+ MET LIFE GLOBAL AAS AA-AA- MICROSOFT AAA AAA AA+ NEW YORK UFE AAA AA+ AAA PROCTER & GAMBLE AAS AA-NR PROVIDENCE HEALTH AA2 AA AA ROYAL BANK OF CANADA AAS AA-AA SHELL INTERNATIONAL AAI AA AA TOYOTA AAS AA-A WAL-MART AA2 AA AA WESTPAC BANKING CORP AA2 AA-AA- Commercial Paper Investments Meeting the Current Investment Policy: (Ratings must be A1/P1 or better by two of the three: Moody's, S&P or Fitch) (Ratings of other debt must be AA or better by two of the three: Moody's, S&P or Fitch) NONE Investments with Subsequent Changes in Credit Rating * Latest Carrying Marl^et Moodv's S&P Fitch Maturitv Date Value Value BARCLAYS BANK A2 A NR 12/15/2015 2,000,000 2,034,120 GENERAL ELECTRIC Al AA+ NR 05/09/2016 19,395,958 19,713,426 MERCK Al AA A+ 06/30/2015 5,221,955 5,286,200 * 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 OCTOBER 31,2013 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 23,416,919.14 3.75% CHEVRON 1,993,903.80 0.32% COCA COLA CO 4,133,106.35 0.66% GENERAL ELECTRIC CAP 19,390,658.05 3.11% GENERAL ELECTRIC COMPANY 8,032,665.00 1.29% GOOGLE 1,050,940.00 0.17% HSBC BANK USA 10,000,000.00 1.60% 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 0.88% MET LIFE GLOBAL FUND 19,221,511.93 3.08% MICROSOFT 2,072,820.00 0.33% NEW YORK LIFE 8,691,145.24 1.39% PROTER & GAMBLE 13,392,464.17 2.15% PROVIDENCE HEALTH 2,237,929.50 0.36% ROYAL BANK OF CANADA 2,038,220.00 0.33% SHELL INTERNATIONAL FIN 5,384,350.00 0.86% TOYOTA 8,005,285.00 1.28% WAL-MART 16,632,709.55 2.67% WESTPAC BANKING CORP 5,000,000.00 0.80% PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER Investment Cost Percent of Portfolio** FAMCA 15,016,370.00 2.41% FICO 1,027,655.32 0.16% FEDERAL FARM CREDIT BANK 49,542,920.79 7.94% FEDERAL HOME LOAN BANK 92,061,019.00 14.76% FEDERAL HOME LOAN MORTGAGE CORP 54,736,916.00 8.77% FEDERAL NATIONAL MORTGAGE ASSOC 94,542,031.04 15.15% TVA 4,099,415.64 0.66% U.S.TREASURY -0.00% Total Portfolio $623,907,565.58 No more than 5% may be invested with a single corporate issuer. *There are no percentage limits on federal agency issuers. /7