HomeMy WebLinkAbout2014-03-25; City Council; 21542; Report on City Investments as of February 28, 2014CITY OF CARLSBAD - AGENDA BILL
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AB# 21.542 REPORT ON CITY INVESTMENTS DEPT. HEAD
MTG. 3/25/14 AS OF FEBRUARY 28, 2014 CITY ATTY. my 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 February 28, 2014 is summarized below.
Pooled Investment Portfolio (Cash and Securities)
Current Month Prior Month
Par Value 643,272,758 644,214,312
Cost of Investments 648,995,757 649,960,548
Amortized Cost (1) 645,572,341 646,633,118
Market Value (2) 646,725,510 647,526,088
(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 2/28/14.
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.
FUND EQUITY IN POOLED INVESTMENTS
(Dollar Amounts in Millions)
$88 Special Revenue General $ 45
Internal Service $37
Agency/Trust $15
Enterprise $154
Capital Projects
$294
Total Treasurer's Investment Portfolio at Amortized Cost
February 28,2014 $643 million
FOR CITY CLERKS USE ONL Y.
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WITHDRAWN • OTHER-SEE MINUTES •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(S).carlsbadca.gov
PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF FEBRUARY 28. 2014
Pooled Investment Interest Income
Current
Month FYTD
Prior
Month FYTD
Current Month
Income
Cash Income Fiscal
Year-to-Date * 5,581,577 5,034,638 546,939
'The cash income received is adjusted for any accrued interest purchased.
Pooled Investment Performance/Measurement
Average Life
(Years)
Average Yield
To Maturity Modified Duration
December 2013 2.24 1.038% 2.169
January 2014 2.26 1.057% 2.199
February 2014 2.22 1.061% 2.151
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.
iXHIBITS FOR POOLED INVESTMENTS:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield
Investment Portfolio Breakdown Of Maturities
Yield Comparison Graph
Market Yield Curve
Cumulative Cash Income Graph
Third Quarter Transactions
Detailed Investment Report
Fund Equity in Pooled Investments
Corporate Note and Commercial Paper Ratings
Percentage Weightings By Corporate Note Issuer
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF FEBRUARY 28, 2014
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 15,560,345 15,559,968 15,561,661 15,562,653 105,008 0.91 0.91
FN 8,191,818 8,183,796 8,225,188 8,223,913 0 0.99 0.99
TR 1,976,485 1,975,958 1,972,960 1,969,380 20,625 0.85 0.85
FA 325,427,489 329,993,995 324,993,549 329,435,845 2,452,967 1.18 1.16
CN 169,763,446 169,875,090 171,319,395 171,289,985 2,747,062 1.46 1.46
LAIF 120,882,903 117,677,829 120,882,903 117,677,829 255,468 0.24 0.25
CUSTODY 3,104 108,425 3.104 108,425 9 0.00 0.00
SWEEP 3,362,573 2,524,980 3,362,573 2,524,980 438 0.02 0.02
BANKACCT 404,178 733,078 404,178 733,078 0 0.02 0.02
TOTALS $645,572,341 $646,633,118 $646,725,510 $647,526,087 5,581,577 1.06% 1.06%
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
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CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF FEBRUARY 28, 2014
BREAKDOWN OF MATURITIES 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
2,731,000
5,461,604
0
11,646,159
11,945,312
120,882,903
3,104
3,362,573
404,178
$156,436,833 (1)
24.1%
7 MONTHS TO 1 YEAR
4,172,673
2,419,825
0
11,279,361
23,090,876
0
0
0
0_
$40,962,735 (1)
6.3%
$197,399,568 (1)
30.4%
1 TO 5 YEARS
8,650,178
0
1,974,620
303,557,653
137,413,738
0
0
0
0_
$451,596,189
69.6%
TOTAL % TOTAL
15,553,852
7,881,429
1,974,620
326,483,173
172,449,925
120,882,903
3,104
3,362,573
404,178
$648,995,757
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%
50.3%
26.6% (2)
18.6%
0.0%
0.5%
0.1%
100.0%
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6.75 6.50 6.25 6.00 5.75 5.50 5.25 5.00 4.75 4.50 4.25 4.00 3.75 3.50 3.25 3.00 2.75 2.50 2.25 2.00 1.75 1.50 1.25 1.00 0.75 0.50 0.25 0.00
YIELD COMPARISON
PORTFOLIO EX-LAIF VS. LAIF
JULY 1999 - FEBRUARY 2014
I I M I I I I I M I I I I I I I I I I M I I I I I I I I I I I I I M I I I I I I I I I I I I I M M I I I I I I I I I I I M N I 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 I I M I I I M I I I I I I I I I I I I I I I I M X ffi
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MARKET YIELD CURVE
6/30/12, 6/30/13, 2/28/14
Market Rates
3Mth 2 Yr 5Yr 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
-02/28/2014 .05 .70 1.50 2.65
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Cumulative Cash Income
Cumulative
Millions $
10
9
8
7
6
5
2
1
FY13-14
(February 2014)
Monthly Interest Income
Millions $
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
i~iInterest Income --^-Budget Actual YTD
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TRANSACTIONS FOR PERIOD:
01/01/14 TO 02/28/14 2nd 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
FEBRUARY
02/13/2014 02/26/2014 FA FHLB 02/26/2015 2,500,000.00 0.5% STEP 2,500,000.00 1.826% 262,500.00 2,762,500.00
02/24/2014 02/25/2014 FA FHLB 05/21/2014 2,500,000.00 0.5% STEP 2,500,000.00 1.597% 140,486.11 2,640,486.11
02/20/2014 02/28/2014 FA FHLB 05/28/2014 2,500,000.00 1.05% STEP 2,500,000.00 2.125% 270,000.00 2,770,000.00
MARCH
02/27/2014 03/19/2014 FA FHLMC 03/19/2015 2,500,000.00 1%STEP 2,500,000.00 1.848% 245,375.00 2,745,375.00
TOTAL THIRD QUARTER 2013-2014 30,650,000.00 30,492,757.50 1.722% 2,482,348.74 32,975,106.24
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
FEBRUARY
02/12/2010 FA FFCB N/A 1,000,000.00 3.00% 1,028,536.49 2.250% 91,463.51 1,120,000.00
MARCH
03/24/2010 FA FHLB N/A 3,000,000.00 2.50% 3,016,423.52 2.363% 300,034.82 3,316,458.34
TOTAL THIRD QUARTER 2013-2014 7,475,000.00 7,573,608.41 1.897% 506,466.60 8,080,075.03
CALLS
JANUARY NONE
FEBRUARY
10/17/2013 FA FHLB 02/14/2014 2,000,000.00 1.45% 1,996,500.00 1.495% 119,500.00 2,116,000.00
05/08/2012 FA FNMA 02/27/2014 3,000,000.00 0.55% 3,002,700.00 0.518% 43.545.83 3,046,245.83
02/24/2012 FA FHLMC 02/24/2014 3,000,000.00 0.85% 2,995,500.00 0.890% 106,500.00 3,102,000.00
07/18/2013 FA FNMA 02/28/2014 1,000,000.00 1.00% 1,000,000.00 1.000% 33,611.11 1,033,611.11
05/24/2012 FA FNMA 02/28/2014 2,050,000.00 1.15% 2,050,000.00 1.150% 112,243.19 2,162,243.19
TOTAL THIRD QUARTER 2013-2014 11,050,000.00 11,044,700.00 0.956% 415,400.13 11,460,100.13
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INVESTMENT REPORT
AS OF FEBRUARY 28,2014
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
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
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
12/24/2013 FA FFCB .350% CALL 3/24/14 CONT 2,000,000.00 1,999,000.00 0.375% 15,000.00 2,014,000.00 730
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
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
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
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
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
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
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INVESTMENT REPORT
AS OF FEBRUARY 28,2014
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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
02/25/2014 FA FHLB .50% CALL 5/21/14 QRTLY STEP 2,500,000.00 2,500.000.00 1.597% 140,486.11 2.640.486.11 1.273
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
10/18/2012 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
01/15/2014 FA FHLMC1.10% 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
INVESTMENT REPORT
AS OF FEBRUARY 28,2014
INVESTMENT
DATE TYPE SECURITY
12/24/2013 FA FH LB 1.00% CALL 3/24/14 QRTLY STEP
12/26/2013 FA FFCB 1.870% CALL 12/26/14 CONT
12/27/2013 FA FHLMC 1.250% CALL 6/27/14 QRTLY STEP
01/14/2014 FA FFCB 1.920% CALL 1/14/15 CONT
01/30/2014 FA FHLB .50% CALL 7/30/14 ONE TIME STEP
02/26/2014 FA FHLB .50% CALL 2/26/15 ONE TIME STEP
02/28/2014 FA FHLB 1.05% CALL 5/28/14 QRTLY STEP
PAR
VALUE
2.500.000.00
3.000.000.00
3.000.000.00
3,000,000.00
2.500.000.00
2.500.000.00
2.500,000.00
INVESTED
AMOUNT
2,497,500.00
3,000.000.00
3.000,000.00
3,000,000.00
2,500.000.00
2,500,000.00
2.500,000.00
RETURN
RATE
2.115%
1.870%
1.839%
1.920%
2.067%
2.083%
2.125%
INTEREST
268,125.00
280,500.00
277.500.00
288.000.00
259.375.00
262,500.00
270,000.00
INVESTMENT
RETURN
2,765,625.00
3.280.500.00
3.277.500.00
3.288.000.00
2.759,375.00
2,762,500.00
2,770,000.00
TERM
(Davs)
1.826
1.826
1.826
1.826
1,826
1,826
1,826
SUB-TOTAL 325,406,000.00 326,483,173.10 1.176% 17,440,452.38 343,923,625.48
01/18/2011
11/24/2010
03/09/2011
07/25/2011
11/22/2013
FN FICO 0.00% NON-CALL
FN FNMAO% NON-CALL
FN FNMA .00% NON-CALL
FN FNMA 00% NON-CALL
TR US TREASURY .50%
1,076,000.00
2,000,000.00
2,657,000.00
2,500,000.00
SUB-TOTAL 8,233,000.00
Federal Investments Total 333,639,000.00
SUB-TOTAL
2,000,000.00
2,000,000.00
1,027,655.32
1,922,260.00
2,511,688.67
2,419,825.00
7,881,428.99
334,364,602.09
1,974,619.96
1,974,619.96
1.370%
1.100%
1.700%
1.020%
0.850%
0.850%
96,689.36
155,480.00
290,622.66
80,175.00
1,124,344.68
2,077,740.00
2,802,311.33
2,500,000.00
0.989% 622,967.02 8,504,396.01
18,063,419.40 352,428,021.49
62,282.21
62,282.21
2,036,902.17
2,036,902.17
1,228
1,319
1,214
1,171
1,233
1,233
1,347
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
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 ON 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
DATE
10/06/2011
05/15/2012
02/10/2012
12/15/2010
12/15/2010
04/13/2012
10/31/2011
12/28/2011
01/25/2012
03/09/2012
02/08/2012
05/06/2011
05/16/2011
06/17/2011
09/12/2011
12/04/2012
09/13/2013
09/04/2012
09/10/2013
10/27/2011
10/11/2011
01/23/2013
10/02/2012
09/22/2011
11/10/2011
01/31/2012
01/31/2012
03/05/2012
08/06/2012
02/16/2012
04/18/2012
06/05/2012
03/08/2013
03/26/2013
05/15/2013
12/24/2013
TYPE
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
CN
INVESTMENT REPORT
AS OF FEBRUARY 28,2014
PAR INVESTED RETURN INVESTMENT TERM
SECURITY VALUE AMOUNT RATE INTEREST RETURN (Days)
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
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
PROCTERS GAMBLE 1.80% NON-CALL 2.844.000.00 2.965.410.36 0.650% 71,270.64 3,036,681.00 1,374
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
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
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
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
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
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
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
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
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
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
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
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
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
TOYOTA .80% NON-CALL 3,000,000.00 2.981.640.00 1.032% 82.626.67 3.064,266.67 977
GOOGLE 2.125% NON-CALL 1,000.000.00 1,050,940.00 2.125% 6,197.92 1,057,137.92 1,353
CHEVRON CORP .889% NON CALL 2,000,000.00 1,993,903.80 1.000% 55,682.64 2.049,586.44 1,018
PROCTERS GAMBLE 1.45% NON-CALL 5,000,000.00 5,011.536.25 1.400% 336.463.75 5.348.000.00 1.754
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
PROCTERS GAMBLE 1.45% NON-CALL 1,000,000.00 1.025.260.00 0.730% 26.376.11 1,051,636.11 1,300
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
TOYOTA 2.0% NON-CALL 5.000.000.00 5,023,645.00 1.900% 474,410.56 5,498,055.56 1,820
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
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
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
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
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
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
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
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
WAL-MART 5.8% 3,000,000.00 3.669,120.00 1.140% 189,763.33 3,858,883.33 1,805
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
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
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
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
INVESTMENT REPORT
AS OF FEBRUARY 28,2014
ESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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 S 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 S 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 S 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 S TRUST .90% 249.000.00 248.502.00 0.950% 9.468.06 257,970.06 1,461
08/15/2012 CD EVERBANK .90% 248,000.00 247,008.00 0.900% 9.926.11 256,934.11 1,461
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 S 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
INVESTMENT REPORT
AS OF FEBRUARY 28,2014
INVESTMENT PAR INVESTED RETURN INVESTMENT TERM
DATE TYPE SECURITY VALUE AMOUNT RATE INTEREST RETURN (Davs)
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 S 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 S 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 S 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 403,757.00 403.757.00 0.020% 0.22 403.757.22
0 CORPORATE CASH MANAGEMENT ACCOUNT 3,362,572.68 3.362.572.68 0.020% 1.84 3.362,574.52 1
0 LIBRARY ACCOUNT 421.41 421.41 0.000% -421.41 1
0 UNION TRUST 3.103.69 3.103.69 0.000% -3,103.69 1
0 LAIF WATER DISTRICT 28.728.000.00 28,728.000.00 0.240% 191.52 28,728,191.52 1
O LAIF PUBLIC IMPROVEMENT CORPORATION 29.478,114.92 29.478.114.92 0.240% 196.52 29,478.311.44 1
0 LAIF PUBLIC FINANCING CORPORATION 28,993,788.31 28.993.788.31 0.240% 193.29 28,993,981.60 1
0 LAIF CITY OF CARLSBAD 33,683,000.00 33.683.000.00 0.240% 224.55 33,683,224.55
SUB-TOTAL 124.652.758.01 124.652.758.01 0.233% 807.95 124,653,565.96
GRAND TOTAL 643,272,758.01 648.995.757.21 1.061% 29.017,222.10 678.012.979.31
EXHIBIT 8
CITY OF CARLSBAD
Fund Equity in Pooled Investments
AS OF FEBRUARY 28, 2014
Cash Balance by Fund:
General 87,689,579
Special Revenue 45,485,451
Debt Service 0
Capital Projects:
General Capital Construction 43,697,024
Traffic Impact Fees 20,882,214
Public Facilities Fees 36,005,050
Park Development 4,501,650
Transnet Taxes 5,804,959
Drainage Fees 5,929,529
Special Districts 90,470,358
Infrastructure Replacement 83,961,794
Redevelopment (see Trust Funds) 0
Other Capital Construction 2,615,180
Total 293,867,758
Enterprise:
Carlsbad Municipal Water District 100,820,621
Sewer Fund 52,336,690
Solid Waste 7,286,252
Storm Water 3,805,802
Golf Course 29,061
Total 164,278,426
Intemal Service 36,792,095
Agency Funds 15,147,305
Trust Funds 199,669
Total General Ledger Balance ** 643,460,284
Reconciling Adjustments (1) 2,112,057
Total Treasurer's Investment Portfolio at Amortized Cost 645,572,341
(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 3/07/14
/6-
EXHIBIT 9
CITY OF CARLSBAD INVESTMENT PORTFOLIO
As Of FEBRUARY 28, 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 AAI AA NR
COCA COLA AA3 AA-A+
GENERAL ELECTRIC COMPANY AA3 AA+ NR
GOOGLE INC AA2 AA NR
HSBC BANK USA A1 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 UFE AAA AA+ AAA
PROCTER & GAMBLE AA3 AA-NR
PROVIDENCE HEALTH AA2 AA AA
ROYAL BANK OF CANADA AA3 AA-AA
SHELL INTERNATIONAL AAI 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 *
Latest Carrying Market
Moodv's S&P Fitch Maturitv Date Value Value
BARCLAYS BANK A2 A NR 12/15/2015 2,000,000 2,029,240
GENERAL ELECTRIC A1 AA+ NR 05/09/2016 17,400,893 17,728,454
MERCK A1 AA A+ 06/30/2015 5,177,490 5,232,850
* 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.
1^
EXHIBIT 10
CITY OF CARLSBAD INVESTMENT PORTFOLIO
AS OF FEBUARY28, 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 3.61%
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%
JOHNSON S JOHNSON 2,104,120.00 0.32%
MASS MUTUAL 3.607.914.95 0.56%
MERCK S 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 S 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 58,661,284.30 9.04%
FEDERAL HOME LOAN BANK 105,452,602.92 16.25%
FEDERAL HOME LOAN MORTGAGE CORP 62.620,248.50 9.65%
FEDERAL NATIONAL MORTGAGE ASSOC 91.586.441.04 14.11%
U.S.TREASURY 1,974,619.96 0.30%
Total Portfolio $648,995,757.21
No more than 5% may be invested with a single corporate issuer.
*There are no percentage limits on federal agency issuers.