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HomeMy WebLinkAbout2014-02-25; City Council; 21513; Report on City Investments as of January 31, 2014CITY OF CARLSBAD - AGENDA BILL AB# MTG. DEPT. 21,513 2/25/14 TRS REPORT ON CITY INVESTMENTS AS OF JANUARY 31, 2014 DEPT. HEAD CITY ATTY. 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 January 31, 2014 is summarized below. Pooled Investment Portfolio (Cash and Securities) Current Month Prior Month Par Value 644,214,312 629,529,629 Cost of Investments 649,960,548 635,486,756 Amortized Cost (1) 646,633,118 632,230,466 Market Value (2) 647,526,088 630,954,308 (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 1/30/14. 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. The increase between the December 2013 and January 2014 reports of approximately $16 million is due to the receipt of property taxes totaling $10.7 million, sales tax in lieu in the amount of $3.8 million and vehicle in lieu receipts of $3.9 million. FOR CITY CLERKS USE ONLY. COUNCIL ACTION: APPROVED )^ CONTINUED TO DATE SPECIFIC • DENIED • CONTINUED TO DATE UNKNOWN • CONTINUED • RETURNED TO STAFF • WITHDRAWN • OTHER ~ SEE MINUTES • AMENDED • DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 Nancv.Sullivan@carlsbadca.gov PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF JANUARY 31. 2014 FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) Special Revenue General $39 $45 Internal Service $37 Agency/Trust $17 Enterprise $153 Capital Projects $294 Total Treasurer's Investment Portfolio at Amortized Cost January 31,2014 $646 million Pooled Investment Interest Income Current Month FYTD Prior Month FYTD Current Month Income Cash Income Fiscal Year-to-Date * 5,034,638 4,219,412 815,226 "The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement Average Life (Years) Average Yield To Maturity Modified Duration November 2013 2.24 1.026% 2.177 December 2013 2.24 1.038% 2.169 January 2014 2.26 1.057% 2.199 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 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. Third Quarter Transactions 7. Detailed Investment Report 8. Fund Equity in Pooled Investments 9. Corporate Note and Commercial Paper Ratings 10. Percentage Weightings By Corporate Note Issuer CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JANUARY 31, 2014 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS Class AMORTIZED COST Current Month Prior Month MARKET VALUE Current Month Prior Month Cash Income Year to Date AVERAGE YIELD Current Month Prior Month CD 15,559,968 15,559,549 15,562,653 15,540,227 85,646 0.91 0.91 FN 8,183,796 8,174,916 8,223,913 8,220,545 0 0.99 0.99 TR 1,975,958 1,975,374 1,969,380 1,957,960 20,625 0.85 0.85 FA 329,993,995 309,523,829 329,435,845 307,265,380 2,222,382 1.16 1.12 CN 169,875,090 173,462,169 171,289,985 174,435,567 2,450,121 1.46 1.46 LAIF 117,677,829 119,359,000 117,677,829 119,359,000 255,468 0.25 0.26 CUSTODY 108,425 352,171 108,425 352,171 6 0.00 0.00 SWEEP 2,524,980 2,691,539 2,524,980 2,691,539 389 0.02 0.02 BANKACCT 733,078 1,131,919 733,078 1,131,919 0 0.02 0.02 TOTALS $646,633,118 $632,230,466 $647,526,088 $630,954,307 5,034,638 1.06% 1.04% CD - Certificate of Deposit FA - Federal Agency Custody - Investment Cash account FN - Federal Discount Notes TR - US Treasury CN - Corporate Notes LAIF - Local Agency Investment Fund SWEEP - General Fund Overnight Cash acccount Bank Account - General Fund Cash account M X H dd CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF JANUARY 31, 2014 BREAKDOWN OF MA TURITIES BY CLASSIFICA TION AND LENGTH OF TmE CLASS WITHIN 6 MONTHS CD FN TR FA CN LAIF CUSTODY SWEEP BANK ACCT _ TOTALS % TOTALS Total within One Year 995,000 5,461,604 0 9,279,440 11,945,312 117,677,829 108,425 2,524,980 733,078 $148,725,668 (1) 22.9% 7 MONTHS TO 1 YEAR 5,162,983 2,419,825 0 14,674,616 16,410,861 0 0 0 0^ $38,668,285 (1) 6.0% $187,393,954 (1) 28.8% 1 TO 5 YEARS 9,395,869 0 1,974,620 307,102,353 144,093,753 0 0 0 0_ $462,566,595 71.2% TOTAL % TOTAL 15,553,852 7,881,429 1,974,620 331,056,410 172,449,925 117,677,829 108,425 2,524,980 733,078 $649,960,548 100.0% 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% 50.9% 26.5% (2) 18.1% 0.0% 0.4% 0.1% 100.0% X H w H 6.75 6.50 6.25 4.25 4.00 3.75 YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1999 - JANUARY 2014 M X H dd H MARKET YIELD CURVE 6/30/12,6/30/13, 1/31/14 Market Rates 3Mth 2 Yr 5 Yr 3Mth 2 Yr 5 Yr 10 Yr —06/30/2012 .07 .25 0.62 1.45 06/30/2013 .03 .36 1.40 2.49 -••-01/31/2014 .02 .33 1.49 2.65 10 Yr H X H dd H H3 Cumulative Cash Income Cumulative Millions $ FY13-14 (January 2014) Monthly Interest Income Millions $ Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Interest Income --^-Budget Actual YTD X H tt) Ul TRANSACTIONS FOR PERIOD: 01/01/14 TO 01/31/14 3rd QUARTER 2013-2014 Trans Investment Call Par Amount Return Investment Date Date Type Securitv Date Value Coupon (Cost) Rate Interest Return BUYS JANUARY 01/14/2014 01/15/2014 FA FHLB 03/27/2014 1,450,000.00 0.625% STEP 1,442,025.00 1.200% 60,084.37 1,502,109.37 01/09/2014 01/30/2014 FA FHLB 04/30/2014 1,500,000.00 1.050% 1,500,000.00 1.050% 63,000.00 1,563,000.00 01/15/2014 01/23/2014 FA FFCB N/A 2,000,000.00 1.160% 1,995,000.00 1.229% 92,000.00 2,087,000.00 01/09/2013 01/30/2014 FA FHLMC 07/30/2014 2,000,000.00 1.550% 1,997,900.00 1.576% 126,100.00 2,124,000.00 01/14/2014 01/15/2014 FA FHLMC 01/30/2015 1,000,000.00 1.100% 980,870.00 1.538% 69,088.33 1,049,958.33 01/15/2014 01/16/2014 FA FFCB 01/23/2014 1,500,000.00 1.340% 1,474,500.00 1.718% 119,858.33 1.594,358.33 01/15/2014 01/16/2014 FA FHLMC 09/24/2014 2,250.000.00 1.200% 2,196,562.50 1.729% 180,037.50 2,376.600.00 01/07/2014 01/08/2014 FA FFCB 01/14/2014 1,750,000.00 1.250% 1.705,900.00 1.808% 147,641.67 1.853.541.67 01/14/2014 01/15/2014 FA FHLMC 11/20/2014 1,700,000.00 0.875% STEP 1.700.000.00 1.918% 158,802.43 1.858.802.43 01/07/2014 01/14/2014 FA FFCB 01/14/2015 3,000,000.00 1.920% 3,000,000.00 1.920% 288,000.00 3.288.000.00 01/15/2014 01/30/2014 FA FHLB 07/30/2014 2,500,000.00 0.5% STEP 2,500,000.00 2.067% 259,375.00 2.759.375.00 TOTAL THIRD QUARTER 2013-2014 20,650,000.00 20,492,757.50 1.660% 1,563,987.63 22.056.745.13 MATURITIES JANUARY 07/18/2011 CN GENERAL ELECTRIC N/A 2,000,000.00 2.10% 2,037,760.00 1.320% 65,956.67 2,103.716.67 10/28/2011 CN METLIFE GLOBAL N/A 1,475,000.00 2.00% 1,490,888.40 1.500% 49,011.60 1,539,900.00 TOTAL THIRD QUARTER 2013-2014 3,475,000.00 3,528,648.40 1.396% 114,968.27 3,643,616.68 CALLS JANUARY NONE TOTAL THIRD QUARTER 2013-2014 M X H dd H INVESTMENT REPORT AS OF JANUARY 31,2014 ESTMENT 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 01/30/2014 FA FHLB 1.05% CALL 4/30/14 QRTLY 1.500.000.00 1,500,000.00 1.050% 63,000.00 1,563,000.00 1,096 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% GALL 5/8/15 ONE TIME 5,000,000.00 4,855,000.00 1.515% 273,527.78 5,128,527.78 1,340 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 H X H dd H 1-3 INVESTMENT REPORT AS OF JANUARY 31,2014 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs) 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 01/15/2014 FA FHLB .625% CALL 3/27/14 QRTLY STEP 1,450,000.00 1,442,025.00 1.200% 60,084.37 1,502,109.37 1,259 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 01/23/2014 FA FFCB 1.160% NON-CALL 2,000,000.00 1,995,000.00 1.229% 92,000.00 2,087,000.00 1,369 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 01/30/2014 FA FHLMC 1.55% CALL 7/30/14 QRTLY 2,000,000.00 1,997,900.00 1.576% 126,100.00 2,124,000.00 1,461 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 JANUARY 31,2014 INVESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs) 01/15/2014 FA FHLMC 1.10% CALL 1/30/18 QRTLY 1,000,000.00 980,870.00 1.538% 69.088.33 1,049,958.33 1,657 01/16/2014 FA FFCB 1.34% CALL 1/23/14 CONT 1,500,000.00 1,474,500.00 1.718% 119,858.33 1,594,358.33 1,714 01/16/2014 FA FHLMC 1.20% CALL 9/24/14 ONE TIME 2,250,000.00 2,196,562.50 1.729% 180,037.50 2,376,600.00 1,712 01/08/2014 FA FFCB 1.250% CALL 1/14/14 CONT 1,750,000.00 1,705,900.00 1.808% 147,641.67 1,853,541.67 1,728 01/15/2014 FA FHLMC .875% CALL 11/20/14 ONE TIME STEP 1,700,000.00 1,700,000.00 1.918% 158,802.43 1,858,802.43 1,770 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 01/14/2014 FA FFCB 1.920% CALL 1/14/15 CONT 3,000,000.00 3,000,000.00 1.920% 288,000.00 3,288,000.00 1,826 01/30/2014 FA FHLB .50% CALL 7/30/14 ONE TIME STEP 2,500,000.00 2,500,000.00 2.067% 259,375.00 2,759,375.00 1,826 SUB-TOTAL 329,956,000.00 331,056,409.59 1.155% 17,274,329.91 348,330,739.50 - 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 338,189,000.00 338,937,838.58 17,897,296.93 356,835,135.51 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 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 Hiir 04/17/2012 CN PROCTERS 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 INVESTMENT REPORT AS OF JANUARY 31,2014 'ESTMENT PAR INVESTED RETURN INVESTMENT TERM DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs) 05/06/2011 CN MET LIFE GLOBAL FUNDING 2.5% NON-CALL 1,000,000.00 993,799.11 2.650% 116,131.45 1,109,930.56 1.607 10/09/2012 CN GENERAL ELECTRICT COMPANY .85% NON-CALL 5,000,000.00 5,022,225.00 0.700% 105,275.00 5,127,500.00 1.095 01/23/2013 CN GENERAL ELECTRICT COMPANY .85% NON-CALL 3,000,000.00 3,010,440.00 0.720% 58,693.33 3,069,133.33 989 10/06/2011 CN WAL-MART 1.50% NON-CALL 3,000,000.00 3,049,826.34 1.080% 132,548.66 3,182,375.00 1,480 05/15/2012 CN WAL-MART 1.50% NON-CALL 2,630.000.00 2,696,944.02 0.750% 68,939.31 2,765,883.33 1,258 02/10/2012 CN PROCTER & GAMBLE 1.80% NON-CALL 2.844,000.00 2,965,410.36 0.650% 71.270.64 3,036,681.00 1,374 12/15/2010 CN BARCLAYS BANK 3.10% NON-CALL 2.000.000.00 2,000,000.00 3.100% 310.000.00 2,310,000.00 1,826 12/15/2010 CN ROYAL BANK OF CANADA 2.625% NON-CALL 2.000.000.00 2,038,220.00 2.220% 225.009.16 2,263,229.16 1,826 04/13/2012 CN PROCTER & GAMBLE 4.85% NON-CALL 1.000,000.00 1,147,830.00 0.760% 30.272.78 1,178,102.78 1,341 10/31/2011 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 1,635,000.00 1,695,247.73 2.200% 154,062.17 1,849,309.90 1,533 12/28/2011 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 2,000,000.00 2,063,239.83 2.300% 189,017.11 2,252,256.94 1,475 01/25/2012 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 5,000,000.00 5,189,924.57 2.120% 428.999.04 5,618,923.61 1,447 03/09/2012 CN MET LIFE GLOBAL FUNDING 3.125% NON-CALL 3,000,000.00 3,169,646.15 1.600% 190.249.68 3,359,895.83 1,403 02/08/2012 CN GENERAL ELECTRIC 1.55% NON-CALL FLOATER 5,000,000.00 5,000,000.00 1.390% 227.500.00 5,227,500.00 1,461 05/06/2011 CN MASS MUTUAL GLOB 3.125% NQN-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 167.409.000.00 172,449,925.41 1.460% 10,372,324.83 182,822,250.24 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 JANUARY 31,2014 INVESTMENT DATE TYPE SECURITY 06/20/2012 CD FIRST NATL BANK OMAHA NEB .70% 08/17/2011 CD AMERICAN EXPRES CENTURION BANK 1.20% 08/17/2011 CD CIT BANK 1.10% 08/17/2011 CD DISCOVER BANK 1.15% 08/17/2011 CD ALLY BANK 1.15% 08/17/2011 CD GE MONEY BANK 1.15% 08/19/2011 CD GE CAPITAL FINANCIAL INC 1.15% 08/24/2011 CD GOLDMAN SACHS BANK 1.15% 09/21/2011 CD TRANSPORTATION ALLIANCE BANK INC .75% 09/21/2012 CD CITIZENS STATE BANK .50% 09/23/2011 CD STATE BANK OF INDIA 1.30% 09/23/2011 CD BMW BANK OF NORTH AMERICA 1.35% 10/24/2012 CD INDEPENDENCE BANK OF KENTUCKY .50% 10/24/2012 CD APPLE BANK FOR SAVINGS .50% 03/14/2013 CD SUNTRUST BANK ATLANTA .28% 04/30/2012 CD STERLING SAVINGS BANK .75% 04/20/2012 CD PLUS INTERNATIONAL .85% 11 /30/2012 CD SYNOVUS BANK .5% 06/08/2012 CD HUNTINGTON NATL BANK .75% 01/11/2012 CD SALLIE MAE BANK 1.35% 01/11/2012 CD BARCLAYS BANK DELAWARE 1.25% 10/17/2012 CD FIRST STATE BANK/MENDOA .50% 02/06/2013 CD KEYBANK NATIONAL ASSOCIATION .45% 08/24/2012 CD BLC COMMUNITY BANK .50% 08/30/2012 CD TRIUMPH BANK .50% 05/09/2012 CD GEORGIA BANK & TRUST .70% 11/29/2012 CD UNITED BANKERS BANK .50% 01/23/2012 CD LCA BANK CORPORATION .85% 07/27/2012 CD FLUSHING SAVINGS BANK.75% 09/15/2011 CD BANK OF THE WEST 1.4% 10/17/2012 CD COMENITY CAP BANK SALT LAKE CITY .50% 11/07/2012 CD EAGLE BANK .60% 12/02/2011 CD MIDLAND STATES BANK 1.25% 01/25/2012 CD NATIONAL REPUBLIC BANK 1.0% 02/10/2012 CD CARDINAL BANK MCLEAN VA .90% 02/06/2013 CD ORIENTAL BANK & TRUST .90% CALL 8/6/13 08/24/2012 CD FIRST BUSINESS BANK .60% 10/22/2012 CD NATIONAL BANK OF COMMERCE .50% 05/04/2012 CD HERITAGE BANK OF COMMERCE .80% 05/18/2012 CD NORTH JERSEY COMMUNITY .85% 05/22/2012 CD STATE BANK & TRUST CO MACON, GA .80% 05/31/2012 CD CRESCENT BANK & TRUST .90% 08/15/2012 CD EVERBANK.90% 02/28/2012 CD MERCANTILE BANK OF MICHIGAN 1.15% 12/24/2012 CD DELTA NATL BANK & TRUST .90% PAR INVESTED RETURN INVESTMENT TERM VALUE AMOUNT RATE INTEREST RETURN (Davs) 249,000.00 249,000.00 0.700% 3,486.00 252,486.00 730 248,000.00 248,000.00 1.200% 8,887.23 256,887.23 1,090 248,000.00 248,000.00 1.100% 8,198.94 256.198.94 1,097 248,000.00 248,000.00 1.150% 8,571.62 256.571.62 1,097 248,000.00 248,000.00 1.150% 8,579.43 256.579.43 1,097 248,000.00 248,000.00 1.150% 8,563.81 256.563.81 1,098 248,000.00 248,000.00 1.150% 8,563.81 256.563.81 1,096 248,000.00 248,000.00 1.150% 8,571.62 256.571.62 1,097 249,000.00 249,000.00 0.750% 5,612.71 254.612.71 1,097 249,000.00 248,751.00 0.550% 2,742.46 251.493.46 731 248,000.00 248,000.00 1.300% 9,680.83 257,680.83 1,096 248,000.00 248,000.00 1.350% 10,053.17 258,053.17 1,096 249,000.00 248,751.00 0.500% 2,739.00 251,490.00 730 248,000.00 248,000.00 0.500% 2,480.00 250,480.00 730 200,000.00 198,780.00 0.640% 2,152.35 200,932.35 608 248,000.00 248,000.00 0.750% 4,749.36 252,749.36 932 249,000.00 249,000.00 0.850% 5,520.35 254,520.35 952 248,000.00 248,000.00 0.500% 2,473.11 250,473.11 728 248,000.00 248,000.00 0.750% 4,652.55 252,652.55 913 248,000.00 248,000.00 1.350% 9,869.73 257,869.73 1,076 248,000.00 248,000.00 1.250% 9,308.49 257,308.49 1,096 249,000.00 248,701.20 0.550% 3,636.09 252,337.29 825 248,000.00 248,000.00 0.450% 2,263.00 250,263.00 740 249,000.00 248,690.24 0.550% 3,427.40 252,117.64 914 249,000.00 249,000.00 0.500% 3,107.41 252,107.41 911 248,000.00 247,628.00 0.750% 5,589.51 253,217.51 1,097 249,000.00 248,676.30 0.550% 3,436.20 252,112.50 911 248,000.00 248,000.00 0.850% 7,375.11 255,375.11 1,277 248,000.00 247,628.00 0.800% 5,951.97 253,579.97 1,095 249,000.00 249,000.00 1.400% 13,943.96 262.943.96 1,460 249,000.00 248,601.60 0.550% 4,233.74 252,835.34 1,094 249,000.00 249,000.00 0.600% 4,490.30 253,490.30 1,097 249,000.00 249,000.00 1.250% 12,450.00 261,450.00 1,461 249,000.00 249,000.00 1.000% 9,966.87 258,966.87 1,461 249,000.00 249,000.00 0.900% 8,970.06 257,970.06 1,461 249,000.00 249,000.00 0.900% 6,735.45 255,735.45 1,097 248,000.00 247,578.40 0.600% 5,635.72 253,214.12 1,279 249,000.00 248,551.80 0.550% 4,791.87 253,343.67 1,274 249,000.00 248,004.00 0.900% 8,953.05 256,957.05 1,459 248,000.00 247,008.00 0.950% 9,429.77 256,437.77 1,461 249,000.00 248,004.00 0.900% 8,974.88 256,978.88 1,462 249,000.00 248,502.00 0.950% 9,468.06 257,970.06 1,461 248,000.00 247,008.00 0.900% 9,926.11 256,934.11 1,461 248,000.00 247,380.00 1.150% 14,895.62 262,275.62 1,827 249,000.00 248,377.50 0.952% 11,624.88 260,002.38 1,792 INVESTMENT REPORT AS OF JANUARY 31,2014 INVESTMENT PAR INVESTED RETURN DATE TYPE SECURITY VALUE AMOUNT RATE 12/24/2012 CD PACIFIC CONTL BANK .90% 249,000.00 248,452.20 0.946% 12/11/2012 CD BANCO POPULAR DE PR HATO 1.1% 248.000.00 248,000.00 1.100% 12/17/2012 CD FIRST AMERICAN BANK 1.0% 249.000.00 248,253.00 1.000% 12/14/2012 CD FIRST BANK OF PUERTO RICO 1.25% 249,000.00 249,000.00 1.250% 12/14/2012 CD BANKERS BANK KANSAS 1.0% 249,000.00 248,502.00 1.000% 01/16/2013 CD THE BANK OF HOLLAND 1.00% 249,000.00 248,751.00 1.000% 01/16/2013 CD BANK OF NORTHERN MICHIGAN 1.00% 249,000.00 248,751.00 1.000% 01/18/2013 CD STEARNS BANK .90% 249.000.00 248,253.00 1.000% 01/23/2013 CD FIRST FARMERS BANK & TRUST 1.0% 249.000.00 248,626.50 1.000% 03/04/2013 CD GATEWAY BANK OF SW FLORIDA .95% 209.000.00 208,373.00 1.070% 01/30/2013 CD FARMERS & MERCHANTS BANK .90% 249,000.00 248,253.00 0.900% 03/28/2013 CD WASHINGTON FEDERAL SAVINGS 1.0% CALL 249,000.00 248,253.00 1.000% 04/05/2013 CD BOSTON PRIVATE BANK & TRUST .95% CALL 248,000.00 247,008.00 1.032% 04/18/2013 CD FIRST STATE BANK NE .95% CALL 249,000.00 248,502.00 0.991% 04/30/2013 CD FOREST COMMERCIAL BANK .90% CALL 249,000.00 248,253.00 0.960% SUB-TOTAL 15,572,000.00 15,553,851.74 0.909% 0 WELLS FARGO BANK 732,557.00 732,557.00 0.020% O CORPORATE CASH MANAGEMENT ACCOUNT 2,524,980.28 2,524,980.28 0.020% 0 LIBRARY ACCOUNT 520.94 520.94 0.000% 0 UNION TRUST 108,424.85 108,424.85 0.000% 0 LAIF WATER DISTRICT 23,777,926.05 23,777,926.05 0.250% 0 LAIF PUBLIC IMPROVEMENT CORPORATION 29,478,114.92 29,478,114.92 0.250% O LAIF PUBLIC FINANCING CORPORATION 28,993,788.31 28,993,788.31 0.250% 0 LAIF CITY OF CARLSBAD 35,428,000.00 35,428,000.00 0.250% SUB-TOTAL 121,044,312.35 121,044,312.35 0.244% GRAND TOTAL 644,214,312.35 649,960,548.04 1.057% INTEREST 11,556.33 13,595.16 13,128.78 15,562.50 12,948.00 12.699.00 12.699.00 11,952.00 12.823.50 10.367.28 11.952.00 13.197.00 12,765.55 12,325.50 11,952.00 INVESTMENT RETURN 260,008.53 261,595.16 261,381.78 264,562.50 261,450.00 261,450.00 261,450.00 260,205.00 261,450.00 218,740.28 260,205.00 261,450.00 259,773.55 260,827.50 260,205.00 518,387.71 16,072,239.45 0 40 732,557 40 1 38 2,524,981 66 520 94 0 00 108,424 85 165 12 23,778,091 17 204 71 29,478,319 63 201 35 28,993,989 66 246 03 35,428,246 03 818 99 121,045,131 34 ,110 67 678,811,658 71 TERM (Days) 1,793 1,820 1,816 1,826 1,826 1,826 1,826 1,826 1,826 1,792 1,826 1,826 1,825 1,826 1,826 1,272 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled investments AS OF JANUARY 31,2014 Cash Balance by Fund: General 89,487,772 Special Revenue 45,624,456 Debt Service 0 Capital Projects: General Capital Construction 44,372,337 Traffic Impact Fees 20,845,014 Public Facilities Fees 36,115,075 Park Development 4,417,511 Transnet Taxes 5,835,493 Drainage Fees 5,905,513 Special Districts 89,818,017 Infrastructure Replacement 84,018,695 Redevelopment (see Trust Funds) 0 Other Capital Construction 2,678,851 Total 294,006,507 Enterprise: Carlsbad Municipal Water District 99,954,471 Sewer Fund 52,058,113 Solid Waste 7,325,656 Storm Water 3,920,481 Golf Course 24,746 Total 163,283,467 Internal Service 36,823,698 Agency Funds 16,364,663 Trust Funds 423,331 Total General Ledger Balance'''' 646,013,893 Reconciling Adjustments (1) 619,226 Total Treasurer's Investment Portfolio at Amortized Cost 646,633,118 (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 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 aiso be a component of the adjustment. ** Figures based on best estimate at the time report run on 2/06/14 75' EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of JANUARY 31, 2014 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) Moodv's S&P Fitch BERKSHIRE HATHAWAY AA2 AA+ A+ CHEVRON AA1 AA NR COCA COLA AA3 AA-A+ GENERAL ELECTRIC COMPANY AA3 AA+ NR GOOGLE INC AA2 AA NR HSBC BANK USA Al AA-AA- IBM CORP AA3 AA-A+ JOHNSON & JOHNSON AAA AAA AAA MASS MUTUAL GLOBAL AA2 AA+ AA+ MET LIFE GLOBAL AA3 AA-AA- MICROSOFT AAA AAA AA+ NEW YORK LIFE AAA AA+ AAA PROCTER & GAMBLE AA3 AA-NR PROVIDENCE HEALTH AA2 AA AA ROYAL BANK OF CANADA AA3 AA-AA SHELL INTERNATIONAL AA1 AA AA TOYOTA AA3 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 * Moodv's S&P Fitch BARCLAYS BANK A2 A NR GENERAL ELECTRIC Al AA+ NR MERCK Al AA A+ Latest Carrying Market Maturitv Date Value Value 12/15/2015 2,000,000 2,030,420 05/09/2016 17,398,958 17,688,890 06/30/2015 5,188,606 5,247,200 * 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 JANUARY 31, 2014 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 3.60% CHEVRON 1,993,903.80 0.31% COCA COLA CO 7,624,962.52 1.17% GENERAL ELECTRIC CAP 17,352,898.05 2.67% GENERAL ELECTRIC COMPANY 8,032,665.00 1.24% GOOGLE 1,050,940.00 0.16% HSBC BANK USA 10,000,000.00 1.54% IBM CORP 8,581,305.00 1.32% JOHNSONS JOHNSON 2,104,120.00 0.32% MASS MUTUAL 3,607,914.95 0.56% MERCK & CO 5,498,750.00 0.85% MET LIFE GLOBAL FUND 17,730,623.53 2.73% MICROSOFT 2,072,820.00 0.32% NEW YORK LIFE 8,691,145.24 1.34% PROTER & GAMBLE 13,392,464.17 2.06% PROVIDENCE HEALTH 2,237,929.50 0.34% ROYAL BANK OF CANADA 2,038,220.00 0.31% SHELL INTERNATIONAL FIN 5,384,350.00 0.83% TOYOTA 8,005,285.00 1.23% WAL-MART 16,632,709.55 2.56% WESTPAC BANKING CORP 5.000,000.00 0.77% PERCENTAGE WEIGHTINGS BY FEDERAL AGENCY ISSUER Investment Cost Percent of Portfolio** FAMCA 15,016,370.00 2.31% FICO 1,027,655.32 0.16% FEDERAL FARM CREDIT BANK 59,689,820.79 9.18% FEDERAL HOME LOAN BANK 99,949,102.92 15.38% FEDERAL HOME LOAN MORTGAGE CORP 65,615,748.50 10.10% FEDERAL NATIONAL MORTGAGE ASSOC 97,639,141.04 15.02% TVA -0.00% U.S.TREASURY 1,974,619.96 0.30% Total Portfolio $649,960,548.04 No more than 5% may be invested with a single corporate issuer. *There are no percentage limits on federal agency issuers. 17