HomeMy WebLinkAbout2014-01-28; City Council; 21494; Report on City Investments December 31, 2013CITY OF CARLSBAD - AGENDA BILL
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AB# 21.494 REPORT ON CITY INVESTMENTS DEPT. HEAD (2i
MTG. 1/28/14 AS OF DECEMBER 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 December 31, 2013 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 629,529,629 614,064,329
Cost of Investments 635,486,756 620,081,041
Amortized Cost (1) 632,230,466 616,905,154
Market Value (2) 630,954,308 618,042,471
(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 12/31/13.
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)
General ^-^9
Internal Service $38
Agency/Trust $14
Enterprise jj^j
Special Revenue
$45
Capital Projects
$295
Total Treasurer's Investment Portfolio at Amortized Cost
December 31,2013 S632 million
FOR CITY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED K CONTINUED TO DATE SPECIFIC •
DENIED CONTINUED TO DATE UNKNOWN •
CONTINUED • RETURNED TO STAFF •
WITHDRAWN • OTHER-SEE MINUTES •
AMENDED •
DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan@carlsbadca.gov
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF DECEMBER 31. 2013
Pooled Investment Interest Income
Current
Month FYTD
Prior
Month FYTD
Current Month
Income
Cash Income Fiscal
Year-to-Date * 4,219,412 3,341,133 878,279
*The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life
(Years)
Average Yield
To Maturity Modified Duration
October 2013 2.27 1.018% 2.199
November 2013 2.24 1.026% 2.177
December 2013 2.24 1.038% 2.169
All pooled investments have been made in accordance with the City's Investment Policy adopted
January 2, 1985 and last revised November 19, 2013. 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 fiow demands for the next
six (6) months.
Investment Portfolio for Bond Proceeds
Current Quarter Prior Quarter
Par Value 11,573,647 11,572,890
Cost 11,573,647 11,572,890
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
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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
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CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF DECEMBER 31, 2013
BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVEFiAGE 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 15,559,549 15,806,131 15,540,227 15,781,616 76,230 0.91 0.90
FN 8,174,916 8,166,035 8,220,545 8,217,638 0 0.99 0.83
TR 1,975,374 1,974,790 1,957,960 1,974,540 15,625 0.85 0.00
FA 309,523,829 298,051,929 307,265,380 297,758,207 1,913,709 1.12 1.10
CN 173,462,169 170,083,940 174,435,567 171,488,142 2,038,484 1.46 1.45
LAIF 119,359,000 119,278,000 119,359,000 119,278,000 175,016 0.26 0.27
CUSTODY 352,171 36,809 352,171 36,809 5 0.00 0.00
SWEEP 2,691,539 2,857,080 2,691,539 2,857,080 343 0.02 0.02
BANK ACCT 1,131,919 650,440 1,131,919 650,440 0 0.02 0.02
TOTALS $632,230,466 $616,905,154 $630,954,308 $618,042,471 4,219,412 1.038% 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 Fund Cash account td X ffi
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CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF DECEMBER 31,2013
BREAKDOWN OF MA TURITIES BY 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
995,000
1,027,655
0
9,279,440
15,473,961
119,359,000
352,171
2,691,539
1,131,919
$150,310,685 (1)
23.7%
7 MONTHS TO 1 YEAR
4,666,282
6,853,774
0
9,674,616
6,388,910
0
0
0
0_
$27,583,581 (I)
4.3%
$177,894,266 (1)
28.0%
1 TO 5 YEARS
9,892,570
0
1,974,620
291,609,596
154,115,704
0
0
0
0_
$457,592,489
72.0%
TOTAL % TOTAL
15,553,852
7,881,429
1,974,620
310,563,652
175,978,574
119,359,000
352,171
2,691,539
1,131,919
$635,486,756
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.
2.4%
1.2%
0.3%
48.9%
27.7% (2)
18.8%
0.1%
0.4%
0.2%
100.0%
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YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1999 - DECEMBER 2013
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MARKET YIELD CURVE
6/30/12, 6/30/13, 12/31/13
Market Rates
3 Mth 2 Yr 5 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
12/31/2013 .07 .38 1.74 3.03
10 Yr
td
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4::^
Cumulative
Millions $
Cumulative Cash Income
FY13-14
(December 2013)
10
8
6
5
4
1
Monthly Interest Income
Millions $
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
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TRANSACTIONS FOR PERIOD:
10/01/13 TO 12/31/13 2nd QUARTER 2013-2014
Trans Investment Call Par Amount Return Investment
Date Date Type Securltv Date Value Coupon (Cost) Rate Interest Return
BUYS
OCTOBER
10/09/2013 10/10/2013 FA FHLMC 06/20/2014 3,000,000.00 1.000% 2,973,000.00 1.250% 137,833.33 3.110,833.33
10/09/2013 10/17/2013 FA FFCB 10/17/2014 2,000,000.00 0.830% 1,999.000.00 0.847% 50.800.00 2,049,800.00
10/15/2013 10/17/2013 FA FHLB 01/17/2014 2,000.000.00 1.450% 1.996.500.00 1.495% 119,500.00 2.116.000.00
10/29/2013 10/30/2013 FA FNMA 01/26/2014 1,500,000.00 0.85% STEF 1.499.625.00 1.383% 78,045.83 1,577,670.83
10/29/2013 10/30/2013 FA FNMA 12/28/2013 2,000,000.00 0.750% 1,978.600.00 1.049% 76,316.67 2,054,916.67
NOVEMBER
11/27/2013 05/22/2017 FA FNMA 05/22/2014 1,590,000.00 1.000% 1.590.000.00 1.000% 55,429.17 1,645,429.17
11/27/2013 03/27/2017 FA FNMA 06/27/2014 4,500,000.00 0.875% 4.498.875.00 0.883% 132,375.00 4,631.250.00
11/20/2013 08/09/2017 FA FFCB 11/26/2013 2.000,000.00 0.700% 1,975,000.00 1.043% 77.072.22 2,052,072.22
11/22/2013 07/31/2017 FA US TREASURY N/A 2,000,000.00 0.500% 1,974.619.96 0.850% 62.282.21 2.036,902.17
DECEMBER
12/19/2013 12/24/2013 CN COCA COLA CO N/A 3.500,000.00 1.650% 3.491,856.17 1.700% 288.391.75 3.780.247.92
12/19/2013 12/24/2013 FA FHLB 03/24/2014 2,500,000.00 1%STEP 2,497,500.00 2.115% 268.125.00 2,765,625.00
12/19/2013 12/24/2013 FA FFCB 03/24/2014 2,000.000.00 0.350% 1,999,000.00 0.375% 15.000.00 2,014,000.00
12/19/2013 12/26/2013 FA FFCB 12/26/2014 3.000,000.00 1.870% 3.000.000.00 1.870% 280.500.00 3,280.500.00
12/10/2013 12/27/2013 FA FHLMC 06/27/2014 3.000.000.00 1.250% 3.000,000.00 1.839% 277.500.00 3.277.500.00
12/12/2013 12/27/2013 FA FHLMC 06/17/2014 3,000,000.00 0.5% STEP 3,000,000.00 2.400% 292.500.00 3,292,500.00
TOTAL SECOND QUARTER 2013-2014 37,590,000.00 37,473,576.13 1.391% 2,211,671.18 39,685,247.31
MATURITIES
OCTOBER
02/23/2010 FA FFCB N/A 1,000,000.00 3.875% 1.065,180.00 2.000% 75,181.11 1.140,361.11
10/19/2011 FA FNMA N/A 5,000,000.00 1.125% 5,061,150.00 0.500% 49,631.25 5.110.781.25
04/15/2010 FA FHLB N/A 2,000,000.00 2.000% 2,000,000.00 2.000% 140,000.00 2,140,000.00
10/19/2009 FA FFCB N/A 2,000.000.00 5.350% 2,235,072.36 2.264% 193,522.08 2,428,594.44
NOVEMBER
10/04/2011 FN TENNESSEE VALLEY AUTHC N/A 4,143,000.00 0.000% 4,099,415.64 0.510% 87,168.72 4,186,584.36
DECEMBER
01/20/2009 FA FHLB N/A 2.000.000.00 3.125% 2,047,941.08 2.600% 258.135.31 2,306,076.39
10/08/2011 CD MEDALLION BANK N/A 249.000.00 0.750% 249,000.00 0.750% 3.740.11 252,740.11
TOTAL SECOND QUARTER 2013-2014 16,392,000.00 16,757,759.08 1.272% 807,378.58 17,565,137.66
CALLS
OCTOBER NONE
NOVEMBER 03/21/2016
11/27/2018
DECEMBER NONE
FA
FA
FFCB
FNMA
11/14/2013
11/27/2013
TOTAL SECOND QUARTER 2013-2014
5,000,000.00
3,000,000.00
8,000,000.00
0.800% 5,002,500.00 0.786% 146,833.33 5,149,333.33
0.500% 2,991,765.00 0.625% 41,443.33 3,033,208.33
7,994,265.00 0.726% 188,276.66 8,182,541.66
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INVESTMENT REPORT
AS OF DECEMBER 31,2013
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
12/24/2015 FA FFCB .350% CALL 3/24/14 CONT 2,000,000.00 1,999,000.00 0.375% 15,000.00 2,014,000.00 -
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
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
11/27/2013 FA FNMA . 875% CALL 6/27/14 QRTYLY 4,500,000.00 4,498,875.00 0.883% 132,375.00 4,631,250.00 1,216
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
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INVESTMENT REPORT
AS OF DECEMBER 31,2013
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
11/27/2013 FA FNMA 1.00% CALL 5/22/14 QRTLY 1,590,000.00 1,590,000.00 1.000% 55,429.17 1,645,429.17 1,272
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
11/20/2013 FA FFCB .700% CALL 11/26/13 QRTLY 2,000,000.00 1,975,000.00 1.043% 77,072.22 2,052,072.22 1,358
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
12/27/2013 FA FHLMC .50% CALL 6/27/14 QRTLY STEP 3,000,000.00 3,000,000.00 2.400% 292,500.00 3,292,500.00 1,461
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 FH LB 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
INVESTMENT REPORT
AS OF DECEMBER 31,2013
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
12/24/2013 FA FHLB 1.00% CALL 3/24/14 QRTLY STEP 2,500,000.00 2,497,500.00 2.115% 268,125.00 2,765,625.00 1,826
12/26/2013 FA FFCB 1.870% CALL 12/26/14 CONT 3,000,000.00 3,000,000.00 1.870% 280,500.00 3,280,500.00 1,826
12/27/2013 FA FHLMC 1.250% CALL 6/27/14 QRTLY STEP 3,000,000.00 3,000,000.00 1.839% 277,500.00 3,277,500.00 1,826
SUB-TOTAL 309,306,000.00 310,563,652.09 1.121% 15,710,342.28 326,273,994.37 -
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 8,233,000.00 7,881,428.99 0.989% 622,967.02 8,504,396.01 1,233
Federal Investments Total 317,539,000.00 318,445,081.08 16,333,309.30 334,778,390.38 1,233
11/22/2013 TR US TREASURY .50% 2,000,000.00 1,974,619.96 0.850% 62,282.21 2,036,902.17 1,347
SUB-TOTAL 2,000,000.00 1,974,619.96 0.850% 62,282.21 2,036,902.17 1,347
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
10/28/2011 CN METLIFE GLOBAL 2.00% NON-CALL 1,475,000.00 1,490,888.40 1.500% 49,011.60 1,539,900.00 805
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
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
INVESTMENT REPORT
AS OF DECEMBER 31,2013
^ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
09/13/2013 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
12/24/2013 CN COCA COLA CA 1.650% MAKE-WHOLE CALL 3,500,000.00 3,491,856.17 1.700% 288,391.75 3,780.247.92 1,782
SUB-TOTAL 170,884,000.00 175,978,573.81 1.459% 10,487,293.10 186,465,866.91 1,475
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
INVESTMENT REPORT
AS OF DECEMBER 31,2013
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
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
INVESTMENT REPORT
AS OF DECEMBER 31,2013
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
08/15/2012 CD EVERBANK .90% 248.000.00 247,008.00 0.900% 9,926.11 256,934.11 1,461
02/28/2012 CD MERCANTILE BANK OF MICHIGAN 1.15% 248.000.00 247,380.00 1.150% 14,895.62 262,275.62 1,827
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% 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 15,572,000.00 15,553,851.74 0.909% 518,387.71 16,072,239.45 1,272
0 WELLS FARGO BANK 1,131,311.00 1,131,311.00 0.020% 0.62 1.131,311.62
0 CORPORATE CASH MANAGEMENT ACCOUNT 2,691,539.01 2,691,539.01 0.020% 1.47 2,691.540.48 1
0 UBRARY ACCOUNT 608.06 608.06 0.000% -608.06 1
0 UNION TRUST 352,170.98 352,170.98 0.000% 0.00 352.170.98 1
O LAI F WATER DISTRICT 28,692,000.00 28,692,000.00 0.260% 207.22 28.692.207.22 1
0 LAIF PUBLIC IMPROVEMENT CORPORATION 30,958,000.00 30,958,000.00 0.260% 223.59 30,958.223.59 1
0 LAIF PUBLIC FINANCING CORPORATION 28,975,000.00 28,975.000.00 0.260% 209.26 28.975.209.26 1
0 LAIF CITY OF CARLSBAD 30,734,000.00 30,734,000.00 0.260% 221.97 30,734,221.97
SUB-TOTAL 123,534,629.05 123,534,629.05 0.252% 864.13 123,535,493.18
GRAND TOTAL 629,529,629.05 635,486,755.64 1.038% 27,402,136.45 662,888,892.09
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF DECEMBER 31, 2013
EXHIBIT 8
Cash Balance by Fund:
General
Special Revenue
Debt Service
Capital Projects:
General Capital Construction
Traffic Impact Fees
Public Facilities Fees
Park Development
Transnet Taxes
Drainage Fees
Special Districts
Infrastructure Replacement
Redevelopment (see Trust Funds)
Other Capital Construction
Enterprise:
Carlsbad Municipal Water District
Sewer Fund
Solid Waste
Storm Water
Golf Course
Total
Total
Internal Service
Agency Funds
Trust Funds
Total General Ledger Balance **
Reconciling Adjustments (1)
Total Treasurer's Investment Portfolio at Amortized Cost
45,073,816
20,895,449
37,112,873
4,373,810
8,519,423
5,897,066
89,565,842
84,019,621
0
(210,996)
99,176,445
51,734,488
7,246,305
3,645,907
24,726
78,702,687
44,998,600
0
295,246,903
161,827,871
37,692,681
14,353,221
141,662
632,963,625
(733,159)
632,230,466
(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 1/10/14
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As of DECEMBER 31, 2013
CORPORATE NOTE AND COMMERCIAL PAPER RATINGS
Corporate Note Investments Meeting the Current Investment Policy:
(Ratings must be AA or better by two of the three: Moody's S&P or Fitch)
Moody's S&P Fltch
BERKSHIRE HATHAWAY AA2 AA+ A+
CHEVRON AA1 AA NR
COCA COLA AAS AA-A+
GENERAL ELECTRIC COMPANY AAS 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 LIFE AAA AA+ AAA
PROCTER & GAMBLE AAS AA-NR
PROVIDENCE HEALTH AA2 AA AA
ROYAL BANK OF CANADA AAS AA-AA
SHELL INTERNATIONAL AA1 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 *
Moody's S&P Fitch
Latest
Maturity Date
Carrying
Value
Market
Value
BARCLAYS BANK A2 A NR 12/15/2015 2,000,000 2,028,260
GENERAL ELECTRIC A1 AA+ NR 05/09/2016 19,397,279 19,693,208
MERCK Al AA A+ 06/S0/2015 5,199,722 5,25S,S00
* 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.
/7
EXHIBIT 10
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF DECEMBER 31, 2013
WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS
PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER
Investment Cost Percent of Portfolio*
BARCU\YS BANK 2,000,000.00 0.31%
BERKSHIRE HATHAWAY 23,416,919.14 3.68%
CHEVRON 1,993,903.80 0.31%
COCA COLA CO 7,624,962.52 1.20%
GENERAL ELECTRIC CAP 19,390,658.05 3.05%
GENERAL ELECTRIC COMPANY 8,032,665.00 1.26%
GOOGLE 1,050,940.00 0.17%
HSBC BANK USA 10,000,000.00 1.57%
IBM CORP 8,581,305.00 1.35%
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 3.02%
MICROSOFT 2,072,820.00 0.33%
NEW YORK LIFE 8,691,145.24 1.37%
PROTER & GAMBLE 13,392,464.17 2.11%
PROVIDENCE HEALTH 2,237,929.50 0.35%
ROYAL BANK OF CANADA 2,038,220.00 0.32%
SHELL INTERNATIONAL FIN 5,384,350.00 0.85%
TOYOTA 8,005,285.00 1.26%
WAL-MART 16,632,709.55 2.62%
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 2.36%
FICO 1,027,655.32 0.16%
FEDERAL FARM CREDIT BANK 51,514,420.79 8.11%
FEDERAL HOME LOAN BANK 94.507,077.92 14.87%
FEDERAL HOME LOAN MORTGAGE CORP 58,740,416.00 9.24%
FEDERAL NATIONAL MORTGAGE ASSOC 97,639,141.04 15.36%
TVA -0.00%
U.S.TREASURY 1,974,619.96 0.31%
Total Portfolio $635,486,755.64
* No more than 5% may be Invested with a single corporate issuer.
**There are no percentage limits on federal agency issuers.
City of Carlsbad
Bond Proceeds Investment Report
December 31, 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 $ 927,810 $
Fiscal Agent:
927,810
BNY Mellon
Invesco
Re-Assessment District 97-01 (Alga Road & College Blvd)
Imprvmnt Fund - Aiga Invesco Prime-Cash Money Market N/A N/A $ 278,344 $
Fiscal Agent: US Bank
278,344 Invesco
Assessment District 95-01 (Carlsbad Ranch)
Reserve Fund Repub Natl Bank Repo Agreement: HSBC (GIC) 5.83% N/A $ 913,384 $
Fiscal Agent: BNY Mellon
913,384 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 $
2,162,764
6,010
Fiscal Agent:
2,162,764
6,010
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 $
953,990 $
1,835,187
777,965
Fiscal Agent:
953,990
Fiscal Agent:
1,835,187
777,965
BNY Mellon
GIC
BNY Mellon
Invesco
BNY Mellon
Communities Facilities District #3 Improvement Area 2
Reserve Fund BNY Dreyfus Money Market
Other BNY Dreyfus Money Market
various
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) vanous N/A $ 1,270,961 $
Fiscal Agent:
1,270,961
BNY Mellon
BNY Mellon
11,573,647 $ 11,573,647
tfl X ffi
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City of Carisbad
Summary of Outstanding Housing Loans
As of December 31, 2013
Borrower Development Purpose
First date
issued
# of loans
issued
Loans issued by City
to developers/
homeowners
Loans issued by
Developer to
homeowners
U of loans
outstanding
City loan
repaid to City
Developer
loan repaid to
City
Loan amount
due to City
(recorded as
AR)
Developer loan
amount due to City
(not on City's
books) Type of Loan
Payment deferred 15 years. No interest is due
City-wide (CHAP) Sale 06/28/99 133 $1,680.000 $ 29 ($1,576,038) $ $103,962.50 $ -103,963 unless home is sold before 16th year City-wide (CHAP)
Payment deferred 30 years. No interest is due
Calavera Hills Sale 10/15/99 5 75.000 150,000 1 (60,000) (120,000) 15,000 30,000 45,000 unless home is sold before 31th year
Payment deferred 30 years. No interest is due
Cherry Tree Walk Sale 06/28/99 42 453,600 452,600 14 (313,200) (283,250) 140,400 169,350 309,750 unless home is sold before 31th year Cherry Tree Walk
Payment deferred 30 years. No interest is due
Serrano Sale 05/25/01 90 1,350,000 4,050,000 32 (960,133) (2,610,000) 389,867 1,440,000 1,829,867 unless home is sold before 31th year
Rancho Carlsbad Sale 05/20/99 22 752,533 -10 (438,337) -314,196 -314,196 Principal is due when home is sold
Solamar Sale 09/26/88 9 147,726 -1 (135,065) -12,661 -12,661 Pnncipal is due when home is sold
Homeless shelter Shelter 09/19/97 1 200,000 -1 --200,000 -200,000 Principal is due wtien property is sold
Principal and 3% interest each year for 30 years
Laurel Tree Rentals 12/24/98 2 1,134,000 2 (1,114,839) -19.161 -19,161 when surplus cash is available (1,114,839)
Principal and 3% interest each year for 55 years
Rancho Carrillo Rentals 03/05/01 1 1,157,584 -1 (13,000) -1,144,585 -1,144,585 wtien surplus cash is available Rancho Carrillo Principal and 3% interest each year for 55 years
Vista Las Flores Rentals 02/27/01 1 363,948 -1 --363,948 -363,948 when surplus cash is available
Principal and 3% interest each year for 55 years
Poinsettia Station Rentals 10/21/99 1 920,000 -1 (144,784) -775,216 -775,216 when surplus cash is available
Principal and 3% interest each year for 15 years
Villa Loma Rentals 11/04/94 2 2,212,000 -0 (2,212,000) ----when surplus cash is available
Principal and 3% interest each year for 55 years
La Costa Paloma Rentals 07/15/03 1 2,070,000 -1 (1,676,577) -393,423 -393,423 when surplus cash is available La Costa Paloma
Principal and 3% interest each year for 55 years
Mariposa Apts Rentals 09/15/04 1 1,060,000 -1 --1,060.000 -1,060,000 when surplus cash is available
Mulberry at Payment deferred 30 years. No interest is due
Bressi Ranch Sale 04/29/05 100 1,840,000 19,660.200 100 --1,840,000 19,660,200 21,500,200 unless home is sold before 31th year
Payment deferred 30 years. No interest is due
Village by the Sea Sale 10/28/05 11 220,000 4,087,200 7 --220,000 4,087,200 4,307,200 unless home is sold before 31th year Village by the Sea
Principal and 3% interest each year for 55 years
Cassia Heights Rentals 03/07/06 1 1,454,276 -1 --1,454,276 -1,454,276 when surplus cash is available
Payment deterred 45 years. No interest is due
Laguna Point Sale 07/06/06 3 210,000 2 (70,000) 140,000 -140,000 unless home is sold t>efore 46th year Laguna Point
Payment deferred 30 years. No interest is due
The Bluffs Sale 06/14/07 8 200,000 8 -200,000 -200,000 unless home is sold before 31th year
Refer to Agenda Bill 18,569 / Resolution 2006-131
Roosevelt Gardens Sale 08/30/07 11 1,583,423 11 1,583,423 -1,583,423 &AB 19,183/R2007-255
Hunter's Point Rentals 08/19/08 1 1,932,000 -1 --1,932,000 -1,932,000 Refer to AB18.251 / Resolution 2005-264
Various Assistance 06/25/09 22 255,518 22 --255,518 -255,518 Refer to Agenda Bill 19,415 / Resolution 2008-121
Glen Ridge Rentals 10/05/09 1 1,014,000 -1 1,014,000 -1,014,000 Refer to Agenda Bill 397 / Resolution 435
Tavarua Rentals 12/14/11 1 1 ---Refer to Agenda Bill 418 / Resolution 475
Property
Acquisition Rentals 06/28/12 1 780,000 -1 -780,000 -780,000 Refer to Agenda Bill 20,936/Resolution 2012-136 Acquisition
Refer to AB19,768/R2009-068; AB20.530/R2011-
Homeless shelter Shelter 03/01/10 3 507,585 -3 -507,585 -507,585 081; AB20,764/R2011-288
Minor Home
N/A Repair 05/20/10 7 28,593 -6 (2,083) -26,510 -26,510 Refer to AB19,415 / Resolution 2008-121
Property
1,065,000 N/A Acquisition 02/27/13 1 1,065,000 -1 --1,065,000 -1,065,000 Refer to AB21,116/Resolution 2013-027
Carol-Harding Property
Duplex Acquisition 03/14/13 1 7,408,000 -1 -7,408,000 -7,408,000 Refer to AB21,028/Resolufion 2012-235
Laguna Point Sale 04/17/13 1 108,150 -1 -108,150 -108,150 TBD Laguna Point
Payment deferred 30 years. No interest is due
Rose Bay Sale 08/23/13 1 229,775 1 -229,775 -229.775 unless home is sold before 31th year ^
(1,599,095) (1,599,095) X
485 $ 30,813,616 $ 28,400,000 263 $ (8,716,053) $ (3,013,250) $ 22,097,563 $ 25.386,750 $ 49,083,409 MH
H
Individual homebuyers
Individual homebuyers
Individual homebuyers
Individual homebuyers
Individual homebuyers
Individual homebuyers
Catholic Charities
Pacific Vista Las Flores
Poinsettia Housing Assoc
Bridge Housing Corp
Dove Family Housing
CIC Calavera LP
Individual homebuyers
Individual homebuyers
El Camino Family Housing
Individual homebuyers
Individual homebuyers
Individual homebuyers
CIC La Costa
Down Payment & Closing
Cost Assistance
CIC Glen Ridge, LP
Tavarua Senior /Apartments,
LP
North County Solutions for
Change
Catholic Charities
Individual homeowners
Hospice of North Coast
Harding Street Neighbors,
LP
Tracy Templeton
Thomas & Judy Kim
Allowances
Znd Qtr: received a $190,372 principal payment related to the La Costa Paloma development; received $16,372 in CHAP loans payments. ro
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