Finance Committee Agenda and Packet 2012 04 16

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974,224 954,280 51,366 5.4% Interfund Transfers 48,000 48,000 48,000 12,000 48,000 12,000 25.0% Total Expenditures & Other Uses 4,951,522 6,051,170 5,829,591 1,811,627 6,278,460 956,474 15.2% % of Prior Year 122.2% 96.3% 29.9% 107.7% 52.8% Revenue Over/(Under) Expend's (623,802) (1,659,300) 399,278 (1,229,616) (101,630) 191,600 Beginning Reserves 4,915,516 4,291,714 2,632,413 2,632,413 3,031,692 3,031,692 Ending Reserves 4,291,714 2,632,413 3,031,692 1,402,797 2,930,062 3,223,292 % of Change from Prior Year -38.7% 15.2% -3.4% 129.8% 2012 City of Louisville, Colorado Water Utility Fund Revenue, Expenditures, & Changes to Fund Balance March 31, 2012 54 2009 2010 2011 2011 Current YTD % of Actual Actual Actual YTD Actual Budget Actual Budget Revenue User Fees and Related Charges 1,608,615 1,648,415 1,732,379 395,607 1,798,390 421,566 23.4% Sewer Tap Fees 57,555 41,873 245,270 28,175 149,490 95,985 64.2% Interest Earnings 147,875 136,700 88,883 41,154 125,000 23,286 18.6% Miscellaneous Revenue 2,646 13,147 18,302 1,643 13,750 1,972 14.3% Interfund Transfers 180,000 -180,000 -0.0% Total Revenue & Other Sources 1,816,691 1,840,136 2,264,834 466,579 2,266,630 542,809 23.9% % of Prior Year 101.3% 123.1% 25.4% 100.1% 116.3% Expenditures General Govt 259,634 284,650 272,668 66,684 303,330 72,027 23.7% Finance 79,248 79,032 61,105 12,707 62,530 15,374 24.6% Collection 111,473 110,183 185,466 32,440 225,750 38,825 17.2% Plant Operations 738,554 779,894 758,724 122,083 859,130 164,811 19.2% Pretreatment 82,827 60,869 66,136 11,651 74,350 (1,979) -2.7% Public Works -Capital Replacement 132,331 309,214 120,697 29,527 671,800 4,866 0.7% Public Works -Capital New 459,875 44,535 44,297 -362,500 889 0.2% Interfund Transfers 386,000 671,000 16,000 4,000 16,000 4,000 25.0% Total Expenditures & Other Uses 2,249,943 2,339,377 1,525,094 279,092 2,575,390 298,813 11.6% % of Prior Year 104.0% 65.2% 11.9% 168.9% 107.1% Revenue Over/(Under) Expend's (433,252) (499,241) 739,740 187,486 (308,760) 243,996 Beginning Reserves 8,954,214 8,520,962 8,021,720 8,021,720 8,761,460 8,761,460 Ending Reserves 8,520,962 8,021,720 8,761,460 8,209,207 8,452,700 9,005,456 % of Change from Prior Year -5.9% 9.2% -3.5% 9.7% 2012 City of Louisville, Colorado Wastewater Utility Fund Revenue, Expenditures, & Changes to Fund Balance March 31, 2012 55 2009 2010 2011 2011 Current YTD % of Actual Actual Actual YTD Actual Budget Actual Budget Revenue Grant Revenue User Fees and Related Charges 428,160 471,768 517,534 126,715 515,400 126,345 24.5% Miscellaneous Revenues 23,653 14,047 12,941 6,841 15,000 371,982 2479.9% Total Revenue & Other Sources 4 51,814 485,816 530,476 133,556 5 30,400 498,327 94.0% % of Prior Year 107.5% 109.2% 27.5% 100.0% 373.1% Expenditures Stormwater Administration 83,568 95,123 150,576 36,624 174,790 56,039 32.1% Stormwater Capital -20,000 167,201 -711,500 -0.0% Total Expenditures & Other Uses 83,568 115,123 317,778 36,624 8 86,290 56,039 6.3% % of Prior Year 137.8% 276.0% 31.8% 278.9% 153.0% Revenue Over/(Under) Expend's 368,246 370,693 212,698 96,932 (355,890) 442,288 Beginning Reserves 566,577 934,823 1,305,515 1,305,515 1,518,213 1,518,213 Ending Reserves 9 34,823 1,305,515 1,518,213 1,402,448 1 ,162,323 1,960,501 % of Change from Prior Year 39.7% 16.3% -23.4% 39.8% 2012 City of Louisville, Colorado Stormwater Utility Fund Revenue, Expenditures, & Changes to Fund Balance March 31, 2012 56 2009 2010 2011 2011 Current YTD % of Actual Actual Actual YTD Actual Budget Actual Budget Revenue Total Charges for Services 1,748,647 61,179 Rental Income 156,372 187,791 716 180,000 971 0.5% Miscellaneous (6,996) 124,803 95,326 14 1,000 231 23.1% Interfund Transfers 370,000 655,000 -233,000 2,009 0.9% Total Revenue & Other Sources 2,111,651 997,354 283,117 730 414,000 3,211 0.8% % of Prior Year 47.2% 28.4% 0.1% 146.2% 439.9% Expenditures Golf Course Operations 1,638,499 272,220 30,937 0 20 3,506 17528.4% Golf Course Debt Service 261,617 855,500 21,201 Interfund Transfers 180,000 -180,000 -0.0% Golf Course Capital 206,495 -9,688 -233,000 2,009 0.9% Total Expenditures & Other Uses 2,106,611 1,127,720 241,826 0 413,020 5,515 1.3% % of Prior Year 53.5% 21.4% 0.0% 170.8% 2297758.3% Revenue Over/(Under) Expend's 5,041 (130,366) 41,291 730 980 (2,304) Beginning Reserves 141,396 146,437 16,071 16,071 57,362 57,362 Ending Reserves 146,437 16,071 57,362 16,801 58,342 55,058 % of Change from Prior Year -89.0% 256.9% 1.7% 227.7% 2012 City of Louisville, Colorado Golf Course Revenue, Expenditures, & Changes to Fund Balance March 31, 2012 57 2009 2010 2011 2011 Current YTD % of Actual Actual Actual YTD Actual Budget Actual Budget Revenue User Fees and Related Charges 603,613 1,036,129 1,071,807 175,579 1,105,120 183,993 16.6% Prepaid Extra Bag Tags 1,863 3,885 2,535 594 1,500 678 45.2% Recycling Revenue -20,446 53,766 11,081 38,630 9,170 23.7% Interest Earnings (5,806) 88 2,171 503 1,000 384 38.4% Total Revenue & Other Sources 5 99,670 1,060,549 1,130,279 187,757 1 ,146,250 194,225 16.9% % of Prior Year 176.9% 106.6% 17.7% 101.4% 103.4% Expenditures Administration 26,451 3,808 25,620 5,590 21.8% Bag Purchases 2,025 4,050 2,058 -3,000 708 23.6% Professional Services 588,119 1,017,745 1,067,298 171,516 1,096,500 178,601 16.3% Advertising/Marketing 1,229 -Total Expenditures & Other Uses 5 91,374 1,021,795 1,095,806 175,324 1 ,125,120 184,898 16.4% % of Prior Year 172.8% 107.2% 17.2% 102.7% 105.5% Revenue Over/(Under) Expend's 8,297 38,754 34,473 12,433 21,130 9,327 Beginning Reserves -8,297 47,050 47,050 81,524 81,524 Ending Reserves 8,297 47,050 8 1,524 59,483 1 02,654 90,850 % of Change from Prior Year 467.1% 73.3% 25.9% 52.7% City of Louisville, Colorado Solid Waste & Recycling Utility Fund Revenue, Expenditures, & Changes to Fund Balance March 31, 2012 2012 58 2009 2010 2011 2011 Current YTD % of Actual Actual Actual YTD Actual Budget Actual Budget Revenue Total Charges for Services 14,894 17,585 17,873 4,468 15,000 4,468 29.8% Total Miscellaneous 15,949 7,810 6,529 3,955 10,000 1,734 17.3% Interfund Transfer 200,000 200,000 170,000 42,500 170,000 42,500 25.0% Total Revenue & Other Sources 230,844 225,395 194,402 50,923 1 95,000 48,702 25.0% % of Prior Year 97.6% 86.2% 22.6% 100.3% 95.6% Expenditures General Government 49,779 24,217 297,413 4,522 255,970 31,353 12.2% Interfund Transfer 100,000 --150,000 -0.0% Total Expenditures & Other Uses 149,779 24,217 297,413 4,522 4 05,970 31,353 7.7% % of Prior Year 16.2% 1228.1% 18.7% 136.5% 693.3% Revenue Over/(Under) Expend's 81,065 201,177 (103,011) 46,401 (210,970) 17,349 Beginning Reserves 480,314 561,379 762,556 762,556 659,546 659,546 Ending Reserves 561,379 762,556 659,546 808,957 4 48,576 676,895 % of Change from Prior Year 35.8% -13.5% -32.0% -16.3% 2012 City of Louisville, Colorado Building Maintenance Revenue, Expenditures, & Changes to Fund Balance March 31, 2012 59 2009 2010 2011 2011 Current YTD % of Actual Actual Actual YTD Actual Budget Actual Budget Revenue Total Charges for Services 79,940 79,940 40,810 10,202 47,750 11,937 25.0% Total Miscellaneous 11,974 4,113 3,312 2,057 4,000 1,032 25.8% Total Revenue & Other Sources 91,914 84,052 44,122 12,259 51,750 12,969 25.1% % of Prior Year 91.4% 52.5% 14.6% 117.3% 105.8% Expenditures General Government 150,396 13,456 54,384 5,369 7,540 25 Interfund Transfers -150,000 -0.3% Total Expenditures & Other Uses 1 50,396 13,456 54,384 5,369 157,540 25 0.0% % of Prior Year 8.9% 404.2% 39.9% 289.7% 0.5% Revenue Over/(Under) Expend's (58,482) 70,596 (10,262) 6,890 (105,790) 12,944 Beginning Reserves 394,894 336,412 407,009 407,009 396,746 396,746 Ending Reserves 3 36,412 407,009 396,746 413,898 290,956 409,690 % of Change from Prior Year 21.0% -2.5% -26.7% -1.0% 2012 City of Louisville, Colorado Technology Revenue, Expenditures, & Changes to Fund Balance March 31, 2012 60 2009 2010 2011 2011 Current YTD % of Actual Actual Actual YTD Actual Budget Actual Budget Revenue Total Charges for Services 100,000 100,000 100,000 25,000 225,620 56,405 25.0% Total Miscellaneous 64,104 23,871 38,422 6,817 15,000 2,976 19.8% Total Revenue & Other Sources 164,104 123,871 1 38,423 31,817 240,620 59,381 24.7% % of Prior Year 75.5% 111.7% 25.7% 173.8% 186.6% Expenditures General Government 229,112 114,879 359,667 13,089 296,460 73 0.0% Total Expenditures & Other Uses 229,112 114,879 3 59,667 13,089 296,460 73 0.0% % of Prior Year 50.1% 313.1% 11.4% 82.4% 0.6% Revenue Over/(Under) Expend's (65,008) 8,992 (221,245) 18,729 (55,840) 59,308 Beginning Reserves 1,413,774 1,348,766 1,357,758 1,357,758 1,136,514 1,136,514 Ending Reserves 1,348,766 1,357,758 1 ,136,514 1,376,487 1,080,674 1,195,822 % of Change from Prior Year 0.7% -16.3% -4.9% -13.1% 2012 City of Louisville, Colorado Fleet Replacement Fund Revenue, Expenditures, & Changes to Fund Balance March 31, 2012 61 2009 2010 2011 2011 Current YTD % of Actual Actual Actual YTD Actual Budget Actual Budget Revenue Property Tax 643,037 669,925 673,395 191,905 658,200 198,829 30.2% Interest Earnings 22,208 13,827 10,184 4,302 10,000 2,574 25.7% Total Revenue & Other Sources 665,245 683,753 683,579 196,207 668,200 201,403 30.1% % of Prior Year 102.8% 100.0% 28.7% 97.8% 102.6% Expenditures General Government Debt 520,228 522,603 523,783 250 524,050 250 0.0% Professional Services 563 748 72 650 65 10.0% Total Expenditures & Other Uses 520,228 523,166 524,530 3 22 524,700 315 0.1% % of Prior Year 100.6% 100.3% 0.1% 100.0% 97.9% Revenue Over/(Under) Expend's 145,017 160,587 159,049 195,886 143,500 201,088 Beginning Fund Balance 478,404 623,421 784,008 784,008 943,057 943,057 Ending Fund Balance 623,421 784,008 943,057 979,893 1,086,557 1,144,144 % of Change from Prior Year 25.8% 20.3% 15.2% 16.8% 2012 City of Louisville, Colorado Library Debt Fund Revenue, Expenditures, & Changes to Fund Balance March 31, 2012 62 COUNCIL COMMUNICATION TO: MAYOR AND CITY COUNCIL FROM: MALCOLM FLEMING CITY MANAGER DATE: APRIL 16, 2012 SUBJECT: CASH & INVESTMENTS AT MARCH 31, 2012 ORIGINATING DEPARTMENT: FINANCE SUMMARY: Attached is the March 31, 2012 report from Davidson Fixed Income Management, the City’s Investment Advisor. As of March 31, total cash and investments amounted to $38.7 million, an increase of $1.5 million from February 29. The average rate of return on all cash and investments was approximately 0.70% during March 2012. The following chart summarizes the distribution of all cash and investments for December 2011 through March 2012. SUBJECT AGENDA ITEM CASH & INVESTMENTS AT MARCH 31, 2012 63 City of Louisville Reports for the period: 03/01/2012 – 03/31/2012 City of Louisville 749 Main Street Louisville, CO 80516 We urge you to compare the information contained in this periodic statement with the account statement(s) that you receive directly from the custodian that holds your account(s). Please notify us immediately if you identify any discrepancies or have any questions. 64 • City of Louisville: Kevin Watson, Finance Director • Davidson Fixed Income Management: Scott Prickett, Account Manager • Investment Objectives: -Safety of Principal: The primary objective is to protect against any loss of principal. -Liquidity: Investments will be managed to ensure that funds are available to meet obligations as necessary. -Yield: Investments will be managed to optimize returns within the appropriate safety and liquidity constraints. City of Louisville Account Review – March 2012 Louisville3 Colotrust2 1 Yr Treas4 2 Yr AG5 BV Return (Yield)1 0.86% 0.19% 0.14% 0.68% 1. BV Rate of Return (Income) = Earned Interest +/-Realized Gain/Loss +/-Amortization. 2. Reflects Colotrust Plus average daily yield for the quarter. 3. Reflects Rate of Return (yield), net of management fees. 4. 1 Yr Treasury data obtained from Bloomberg. 5. The 2 Yr Agency Benchmark is a custom benchmark created to reflect purchasing a 2 Yr Agency security every month on the same day as the 2 Yr Treasury Auction and using Bloomberg pricing. Past performance of the City of Louisville portfolio does not guarantee future results. Performance Information (01/01/2012 – 03/31/2012) Managed Assets: Par Value: $ 28,880,338 Book Value: $ 28,970,360 Market Value: $ 29,080,789 Weighted Avg YTM: 0.89% Weighted Avg Maturity/Call: 1.7 Years Other Assets: Cash Accounts: $ 485,481 0.050% Local Government Investment Pools: $ 7,074,695 0.136% Certificates of Deposit $ 2,166,463 0.000% Total Assets: $ 38,807,428 Portfolio Characteristics 03/31/2012 65 City of Louisville Total Portfolio Holdings Diversification – March 2012 66 City of Louisville Portfolio Management March 31, 2012 Davidson Fixed Income Mgmt Portfolio Summary % of Portfolio Book Investments Value Market Value Par Value Days to Term Maturity YTM/C 360 Equiv. YTM/C 365 Equiv. Managed Pool Accounts 580,337.80 580,337.80 580,337.80 2.00 1 1 0.197 0.200 Commercial Paper Disc. -Amortizing 1,000,000.00 997,777.78 997,777.78 3.44 269 250 0.322 0.326 Federal Agency Coupon Securities 26,300,000.00 26,505,212.30 26,394,163.64 91.11 1,002 626 0.939 0.952 Treasury Coupon Securities 1,000,000.00 997,460.94 998,081.01 3.45 579 547 0.250 0.254 28,970,360.23 100.00% Investments 28,880,337.80 29,080,788.82 942 597 0.879 0.891 Cash and Accrued Interest Total Cash and Investments 28,975,173.57 Subtotal 4,813.34 4,813.34 28,880,337.80 29,085,602.16 4,813.34 4,813.34 942 597 0.879 0.891 Accrued Interest at Purchase Current Year March 31 20,233.11 Total Earnings Month Ending __________________________ ________________________ ____________________ Kevin Watson, Finance Director Portfolio LSVL Data Updated: FUNDSNAP: 04/09/2012 10:27 AP Reporting period 03/01/2012-03/31/2012 Run Date: 04/09/2012 -10:27 No fiscal year history available PM (PRF_PM1) SymRept 6.42 Report Ver. 5.00 67 YTM/C 365 Page 2 Par Value Book Value Maturity Date Stated Market Value Rate March 31, 2012 Portfolio Details -Investments Issuer Portfolio Management City of Louisville Days to CUSIP Investment # S&P Maturity Purchase Date Managed Pool Accounts SYSLS0002 LS0002 CSAFE 580,337.80 580,337.80 580,337.80 0.200 AAAM 0.200 1 Subtotal and Average 580,337.80 580,337.80 580,337.80 0.200 1 Commercial Paper Disc. -Amortizing 36959HM79 LSVL0310 GEN ELEC CAP CRP 03/13/2012 1,000,000.00 997,777.78 997,777.78 0.320 A-1+ 0.326 250 12/07/2012 Subtotal and Average 1,000,000.00 997,777.78 997,777.78 0.326 250 Federal Agency Coupon Securities 31331GNQ8 LS0080 FFCB 02/25/2009 1,000,000.00 1,001,264.00 1,000,060.58 2.250 AA+ 2.152 23 04/24/2012 31398AP71 LS0155 FNMA 04/19/2010 1,500,000.00 1,503,663.00 1,500,017.07 1.250 AA+ 1.245 82 06/22/2012 3134G1VG6 LS0225 FHLMC 03/31/2011 1,000,000.00 1,002,509.00 999,699.33 0.625 AA+ 0.677 212 10/30/2012 31331YGE4 LS0085 FFCB 01/15/2008 1,000,000.00 1,027,316.00 1,004,236.96 4.250 AA+ 3.560 247 12/04/2012 31398AE24 LS0205 FNMA 01/21/2011 1,000,000.00 1,013,147.00 1,008,407.55 1.750 AA+ 0.797 327 02/22/2013 31359MSL8 LS0115 FNMA 01/22/2009 1,000,000.00 1,051,962.00 1,023,689.54 4.375 AA+ 2.432 472 07/17/2013 3134G2SQ6 LSVL0255 FHLMC (StrNt -Callable 1x) 07/26/2011 1,300,000.00 1,299,968.80 1,300,000.00 0.400 AA+ 0.400 116 07/26/2013 31398AX31 LS0220 FNMA 02/24/2011 1,000,000.00 1,012,434.00 1,002,283.37 1.250 AA+ 1.083 506 08/20/2013 31398A3A8 LS0190 FNMA 09/03/2010 1,500,000.00 1,512,807.00 1,499,822.22 1.050 AA+ 1.058 520 09/03/2013 313373ME9 LSVL0235 FHLB (Callable -NC1yr 1X) 04/25/2011 1,000,000.00 1,000,517.00 1,000,000.00 1.000 AA+ 1.000 572 10/25/2013 3134G3BF6 LSVL0320 FHLMC 03/19/2012 1,500,000.00 1,505,727.00 1,504,950.49 0.625 AA+ 0.433 631 12/23/2013 313378H87 LSVL0300 FHLB (Callable -NC1yr 1X) 02/29/2012 1,500,000.00 1,499,886.00 1,499,856.68 0.400 AA+ 0.405 698 02/28/2014 313378QE4 LSVL0315 FHLB (Callable -Cont.) 03/28/2012 1,500,000.00 1,502,700.00 1,500,000.00 0.500 AA+ 0.500 726 03/28/2014 31331KKQ2 LSVL0240 FFCB 05/12/2011 1,000,000.00 1,009,603.00 1,000,000.00 1.150 AA+ 1.150 771 05/12/2014 3136FRPJ6 LSVL0265 FNMA (StrNt -Callable 1x) 08/04/2011 1,000,000.00 1,000,753.00 1,000,000.00 0.576 AA+ 0.352 66 06/06/2014 3137EACV9 LSVL0280 FHLMC 02/28/2012 1,500,000.00 1,519,395.00 1,519,882.36 1.000 AA+ 0.445 878 08/27/2014 31398A3G5 LSVL0325 FNMA 03/28/2012 1,000,000.00 1,019,849.00 1,023,888.28 1.500 AA+ 0.512 890 09/08/2014 3136FPWZ6 LSVL0260 FNMA 07/14/2011 1,000,000.00 1,019,006.00 1,006,542.58 1.300 AA+ 1.046 960 11/17/2014 3135G0FY4 LSVL0285 FNMA 02/27/2012 1,000,000.00 1,004,335.00 1,005,982.04 0.750 AA+ 0.528 992 12/19/2014 3134G3PD6 LSVL0290 FHLMC (Callable-NC2yr1X) 02/28/2012 1,500,000.00 1,498,345.50 1,497,091.75 0.550 AA+ 0.617 1,062 02/27/2015 3134G3SD3 LSVL0305 FHLMC (Callable-NC2yr1X) 03/28/2012 1,500,000.00 1,498,293.00 1,499,251.79 0.750 AA+ 0.765 1,275 09/28/2015 3133EAJA7 LSVL0330 FFCB (Callable -Cont.) 03/30/2012 1,000,000.00 1,001,732.00 998,501.05 0.970 AA+ 1.009 1,450 03/21/2016 Subtotal and Average 26,300,000.00 26,505,212.30 26,394,163.64 0.952 626 Treasury Coupon Securities 912828RK8 LSVL0295 US T-NOTE 02/29/2012 1,000,000.00 997,460.94 998,081.01 0.125 AA+ 0.254 547 09/30/2013 Subtotal and Average 1,000,000.00 997,460.94 998,081.01 0.254 547 Portfolio LSVL Data Updated: FUNDSNAP: 04/09/2012 10:27 AP Run Date: 04/09/2012 -10:27 PM (PRF_PM2) SymRept 6.42 68 YTM/C 365 Page 3 Par Value Book Value Maturity Date Stated Market Value Rate March 31, 2012 Portfolio Details -Investments Issuer Portfolio Management City of Louisville Days to CUSIP Investment # S&P Maturity Purchase Date Total and Average 28,880,337.80 29,080,788.82 28,970,360.23 0.891 597 Portfolio LSVL Data Updated: FUNDSNAP: 04/09/2012 10:27 AP Run Date: 04/09/2012 -10:27 PM (PRF_PM2) SymRept 6.42 69 Davidson Fixed Income Mgmt City of Louisville Purchases Report Sorted by Fund -Fund March 1, 2012 -March 31, 2012 Original Par Value Ending Book Value Sec. Fund Type Maturity/365 Accrued Interest YTM/YTC CUSIP Investment # Issuer Payment Periods at Purchase Call Date Purchase Date Principal Purchased Rate at Purchase City of Louisville 36959HM79 LSVL0310 100 ACP GECC 1,000,000.00 03/13/2012 12/07 -At Maturity 997,608.89 0.320 12/07/2012 0.326 997,777.78 3134G3BF6 LSVL0320 100 FAC FHLMC 1,500,000.00 03/19/2012 06/23 -12/23 1,505,046.00 2,239.58 0.625 12/23/2013 0.433 1,504,950.49 313378QE4 LSVL0315 100 FAC FHLBCC 1,500,000.00 03/28/2012 09/28 -03/28 1,500,000.00 0.500 03/28/2014 0.500 1,500,000.00 3134G3SD3 LSVL0305 100 FAC FHLMC2 1,500,000.00 03/28/2012 09/28 -03/28 1,499,250.00 0.750 09/28/2015 0.765 1,499,251.79 31398A3G5 LSVL0325 100 FAC FNMA 1,000,000.00 03/28/2012 09/08 -03/08 1,023,970.00 833.33 1.500 09/08/2014 0.512 1,023,888.28 3133EAJA7 LSVL0330 100 FAC FFCBCC 1,000,000.00 03/30/2012 09/21 -03/21 998,500.00 242.50 0.970 03/21/2016 1.009 998,501.05 Subtotal 7,500,000.00 7,524,374.89 3,315.41 7,524,369.39 Total Purchases 7,500,000.00 7,524,374.89 3,315.41 7,524,369.39 Portfolio LSVL Data Updated: FUNDSNAP: 04/09/2012 10:27 AP Run Date: 04/09/2012 -10:27 No fiscal year history available PU (PRF_PU) SymRept 6.42 Report Ver. 5.00 70 City of Louisville Davidson Fixed Income Mgmt Sorted By Maturity/Sale/Call Date Sales/Calls/Maturities: March 1, 2012 -March 31, 2012 Realized Gains and Losses Investment # Current Rate Maturity Date Par Value Book Value Maturity/Sale Proceeds Realized Gain/Loss Sale Date Total Earnings Yield 365 Inv. Type Purchase Date Term Days Held Net Earnings Total Total Issuer LSVL0275 1,000,000.00 1,500.00 0.300 03/07/2012 ACP 09/09/2011 03/07/2012 1,000,000.00 1,000,000.00 0.00 1,500.00 0.304 180 180 GEN ELEC CAP CRP LS0075 1,000,000.00 147,690.00 5.000 03/09/2012 FAC 01/15/2008 03/09/2012 1,000,000.00 1,000,000.00 0.00 147,690.00 3.558 1,515 1,515 FHLB Total Realized Gains/Losses 2,000,000.00 2,000,000.00 0.00 149,190.00 149,190.00 1.931 Portfolio LSVL Data Updated: FUNDSNAP: 04/09/2012 10:27 AP Run Date: 04/09/2012 -10:27 No fiscal year history available CG (PRF_CGR1) SymRept 6.42 Report Ver. 5.00 71 City of Louisville Received Interest Davidson Fixed Income Mgmt Sorted by Date Received Received March 1, 2012 -March 31, 2012 Security Type Current Rate Par Value Date Due Date Received Amount Due Amount Received Variance Interest Date Received CUSIP Investment # March 2012 31398A3A8 LS0190 FAC 1,500,000.00 1.050 03/03/2012 03/03/2012 7,875.00 7,875.00 -3136FRPJ6 LSVL0265 FAC 1,000,000.00 0.576 03/06/2012 03/06/2012 1,570.83 1,570.83 -3133XJUT3 LS0075 FAC 0.00 5.000 03/09/2012 03/09/2012 25,000.00 25,000.00 -912828RK8 LSVL0295 TRC 1,000,000.00 0.125 03/31/2012 03/31/2012 625.00 625.00 -Subtotal 35,070.83 35,070.83 Total 35,070.83 35,070.83 Total Cash Overpayment 0.00 Total Cash Shortfall 0.00 Portfolio LSVL Data Updated: FUNDSNAP: 04/09/2012 10:27 AP Run Date: 04/09/2012 -10:27 RI (PRF_RI) SymRept 6.42 Report Ver. 5.00 72 Security Type Current Rate Par Value Page 2 Date Received Amount Received Interest Date Received Received March 1, 2012 -March 31, 2012 Received Interest City of Louisville CUSIP Investment # Cash Accounts March 2012 SYSLS0002 LS0002 LA1 580,337.80 0.180 03/01/2012 1,395.45 Subtotal 1,395.45 Total 1,395.45 Portfolio LSVL Data Updated: FUNDSNAP: 04/09/2012 10:27 AP Run Date: 04/09/2012 -10:27 RI (PRF_RI) SymRept 6.42 Report Ver. 5.00 73 City of Louisville Accrued Interest Davidson Fixed Income Mgmt Sorted by Fund -Fund March 1, 2012 -March 31, 2012 Maturity Date Security Type Current Rate Par Value * Beginning Accrued Interest * Ending Accrued Interest Adjusted Acc'd Int. at Purchase CUSIP Investment # During Period Interest Earned Interest Received City of Louisville SYSLS0002 LS0002 LA1 580,337.80 0.200 1,395.45 0.00 739.20 1,395.45 739.20 31331GNQ8 LS0080 FAC 1,000,000.00 04/24/2012 2.250 7,937.50 0.00 1,875.00 0.00 9,812.50 31331YGE4 LS0085 FAC 1,000,000.00 12/04/2012 4.250 10,270.83 0.00 3,541.67 0.00 13,812.50 31331KKQ2 LSVL0240 FAC 1,000,000.00 05/12/2014 1.150 3,481.94 0.00 958.34 0.00 4,440.28 3133EAJA7 LSVL0330 FAC 1,000,000.00 03/21/2016 0.970 0.00 0.00 26.94 0.00 26.94 3133XJUT3 LS0075 FAC 0.00 03/09/2012 5.000 23,888.89 0.00 1,111.11 25,000.00 0.00 313373ME9 LSVL0235 FAC 1,000,000.00 10/25/2013 1.000 3,500.00 0.00 833.33 0.00 4,333.33 313378H87 LSVL0300 FAC 1,500,000.00 02/28/2014 0.400 33.33 0.00 500.00 0.00 533.33 313378QE4 LSVL0315 FAC 1,500,000.00 03/28/2014 0.500 0.00 0.00 62.50 0.00 62.50 3134G1VG6 LS0225 FAC 1,000,000.00 10/30/2012 0.625 2,100.69 0.00 520.84 0.00 2,621.53 3137EACV9 LSVL0280 FAC 1,500,000.00 08/27/2014 1.000 125.00 0.00 1,250.00 0.00 1,375.00 3134G3BF6 LSVL0320 FAC 1,500,000.00 12/23/2013 0.625 0.00 0.00 312.50 0.00 312.50 3134G3PD6 LSVL0290 FAC 1,500,000.00 02/27/2015 0.550 68.75 0.00 687.50 0.00 756.25 3134G3SD3 LSVL0305 FAC 1,500,000.00 09/28/2015 0.750 0.00 0.00 93.75 0.00 93.75 3134G2SQ6 LSVL0255 FAC 1,300,000.00 07/26/2013 0.400 505.56 0.00 433.33 0.00 938.89 31359MSL8 LS0115 FAC 1,000,000.00 07/17/2013 4.375 5,347.22 0.00 3,645.84 0.00 8,993.06 31398AP71 LS0155 FAC 1,500,000.00 06/22/2012 1.250 3,593.75 0.00 1,562.50 0.00 5,156.25 31398A3A8 LS0190 FAC 1,500,000.00 09/03/2013 1.050 7,787.50 0.00 1,312.50 7,875.00 1,225.00 31398AE24 LS0205 FAC 1,000,000.00 02/22/2013 1.750 437.50 0.00 1,458.33 0.00 1,895.83 31398AX31 LS0220 FAC 1,000,000.00 08/20/2013 1.250 381.94 0.00 1,041.67 0.00 1,423.61 3136FPWZ6 LSVL0260 FAC 1,000,000.00 11/17/2014 1.300 3,755.56 0.00 1,083.33 0.00 4,838.89 3135G0FY4 LSVL0285 FAC 1,000,000.00 12/19/2014 0.750 83.33 0.00 625.00 0.00 708.33 31398A3G5 LSVL0325 FAC 1,000,000.00 09/08/2014 1.500 0.00 0.00 125.00 0.00 125.00 3136FRPJ6 LSVL0265 FAC 1,000,000.00 06/06/2014 0.576 1,483.56 0.00 487.09 1,570.83 399.82 912828RK8 LSVL0295 TRC 1,000,000.00 09/30/2013 0.125 3.41 0.00 105.88 105.87 3.42 Subtotal 27,880,337.80 76,181.71 0.00 24,393.15 35,947.15 64,627.71 Total 27,880,337.80 76,181.71 0.00 24,393.15 35,947.15 64,627.71 Portfolio LSVL Data Updated: FUNDSNAP: 04/09/2012 10:27 AP Run Date: 04/09/2012 -10:27 AI (PRF_AI) SymRept 6.42 Report Ver. 5.00 * Beginning Accrued may not include investments that redemed in the previous month that had outstanding accrued interest. 74 City of Louisville Interest Earnings Davidson Fixed Income Mgmt Sorted by Fund -Fund March 1, 2012 -March 31, 2012 Yield on Average Book Value Maturity Date Current Rate Ending Par Value Average Fund Issuer Book Value Beginning Book Value Adjusted Interest Earnings Accretion Amortization/Earnings Annualized Adjusted Interest CUSIP Investment # Yield Interest Earned Fund: City of Louisville 3133XJUT3 LS0075 100 FHLB 1,000,000.00 1,000,320.27 258,100.68 03/09/2012 5.000 3.608 1,111.11 -320.27 790.84 31331GNQ8 LS0080 100 FFCB 1,000,000.00 1,000,139.60 1,000,097.54 04/24/2012 2.250 2.114 1,875.00 -79.02 1,795.98 31331YGE4 LS0085 100 FFCB 1,000,000.00 1,004,760.04 1,004,481.63 12/04/2012 4.250 3.538 3,541.67 -523.08 3,018.59 31359MSL8 LS0115 100 FNMA 1,000,000.00 1,025,214.61 1,024,402.88 07/17/2013 4.375 2.438 3,645.84 -1,525.07 2,120.77 31398AP71 LS0155 100 FNMA 1,500,000.00 1,500,023.39 1,500,020.03 06/22/2012 1.250 1.222 1,562.50 -6.32 1,556.18 SYSLS0002 LS0002 100 CSAFE 580,337.80 5,073,413.62 4,951,285.37 0.200 0.176 739.20 0.00 739.20 31398A3A8 LS0190 100 FNMA 1,500,000.00 1,499,811.81 1,499,817.35 09/03/2013 1.050 1.039 1,312.50 10.41 1,322.91 31398AE24 LS0205 100 FNMA 1,000,000.00 1,009,193.30 1,008,775.08 02/22/2013 1.750 0.785 1,458.33 -785.75 672.58 31398AX31 LS0220 100 FNMA 1,000,000.00 1,002,420.65 1,002,347.58 08/20/2013 1.250 1.062 1,041.67 -137.28 904.39 3134G1VG6 LS0225 100 FHLMC 1,000,000.00 999,656.18 999,679.10 10/30/2012 0.625 0.664 520.84 43.15 563.99 313373ME9 LSVL0235 100 FHLBC1 1,000,000.00 1,000,000.00 1,000,000.00 10/25/2013 1.000 0.981 833.33 0.00 833.33 31331KKQ2 LSVL0240 100 FFCB 1,000,000.00 1,000,000.00 1,000,000.00 05/12/2014 1.150 1.128 958.34 0.00 958.34 3134G2SQ6 LSVL0255 100 FHLMCS 1,300,000.00 1,300,000.00 1,300,000.00 07/26/2013 0.400 0.392 433.33 0.00 433.33 3136FPWZ6 LSVL0260 100 FNMA 1,000,000.00 1,006,750.06 1,006,639.63 11/17/2014 1.300 1.024 1,083.33 -207.48 875.85 3136FRPJ6 LSVL0265 100 FNMAS1 1,000,000.00 1,000,000.00 1,000,000.00 06/06/2014 0.576 0.574 487.09 0.00 487.09 36959HC70 LSVL0275 100 GECC 1,000,000.00 999,950.00 193,544.35 03/07/2012 0.300 0.304 0.00 50.00 50.00 3137EACV9 LSVL0280 100 FHLMC 1,500,000.00 1,520,571.12 1,520,204.52 08/27/2014 1.000 0.435 1,250.00 -688.76 561.24 3135G0FY4 LSVL0285 100 FNMA 1,000,000.00 1,006,165.53 1,006,067.87 12/19/2014 0.750 0.517 625.00 -183.49 441.51 3134G3PD6 LSVL0290 100 FHLMC2 1,500,000.00 1,497,008.34 1,497,052.74 02/27/2015 0.550 0.606 687.50 83.41 770.91 912828RK8 LSVL0295 100 USTR 1,000,000.00 997,972.26 998,028.39 09/30/2013 0.125 0.253 105.88 108.75 214.63 313378H87 LSVL0300 100 FHLBC1 1,500,000.00 1,499,850.42 1,499,853.75 02/28/2014 0.400 0.397 500.00 6.26 506.26 3134G3SD3 LSVL0305 100 FHLMC2 1,500,000.00 0.00 193,451.79 09/28/2015 0.750 0.581 93.75 1.79 95.54 36959HM79 LSVL0310 100 GECC 1,000,000.00 0.00 611,492.19 12/07/2012 0.320 0.325 0.00 168.89 168.89 313378QE4 LSVL0315 100 FHLBCC 1,500,000.00 0.00 193,548.39 03/28/2014 0.500 0.380 62.50 0.00 62.50 3134G3BF6 LSVL0320 100 FHLMC 1,500,000.00 0.00 631,125.22 12/23/2013 0.625 0.405 312.50 -95.51 216.99 31398A3G5 LSVL0325 100 FNMA 1,000,000.00 0.00 132,117.25 09/08/2014 1.500 0.386 125.00 -81.72 43.28 3133EAJA7 LSVL0330 100 FFCBCC 1,000,000.00 0.00 64,419.42 03/21/2016 0.970 0.512 26.94 1.05 27.99 Subtotal 30,880,337.80 27,943,221.20 28,096,552.72 0.848 24,393.15 -4,160.04 20,233.11 Total 30,880,337.80 27,943,221.20 28,096,552.72 0.848 24,393.15 -4,160.04 20,233.11 Portfolio LSVL Data Updated: FUNDSNAP: 04/09/2012 10:27 AP Run Date: 04/09/2012 -10:27 No fiscal year history available IE (PRF_IE) SymRept 6.42 Report Ver. 5.00 75 Page 5 March 31, 2012 Interest Earnings Summary March 31 Month Ending Fiscal Year To Date Portfolio Management City of Louisville CD/Coupon/Discount Investments: Interest Collected 34,551.70 Plus Accrued Interest at End of Period Less Accrued Interest at Beginning of Period 63,888.51 ( 74,786.26) 101,682.95 63,888.51 ( 91,772.81) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period Adjusted by Premiums and Discounts Adjusted by Capital Gains or Losses Earnings during Periods 23,653.95 -4,160.04 0.00 73,798.65 -13,184.22 572.50 19,493.91 61,186.93 Pass Through Securities: Interest Collected 0.00 Plus Accrued Interest at End of Period Less Accrued Interest at Beginning of Period 0.00 ( 0.00) 0.00 0.00 ( 0.00) Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00) Interest Earned during Period Adjusted by Premiums and Discounts Adjusted by Capital Gains or Losses Earnings during Periods 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Cash/Checking Accounts: Interest Collected 1,395.45 Plus Accrued Interest at End of Period Less Accrued Interest at Beginning