Comprehensive Annual Financial Report - City of Santa Monica

CITY OF SANTA MONICA, CALIFORNIA
Notes to Basic Financial Statements, Continued
For the fiscal year ended June 30, 2008
Investment type
Amount
12 Months
or Less
Remaining maturity (in months)
13 to 24 25 to 60
Months Months
More than
60 Months
Held by City:
Federal agency securities $ 432,777,487 74,665,476 128,050,965 230,061,046 —
Corporate medium term notes 96,531,504 22,108,825 14,069,349 60,353,330 —
State investment pool 39,912,581 39,912,581 — — —
Money market funds 45,602,942 45,602,942 — — —
Held by others:
Treasury notes/ bonds 1,193,880 — 342,214 — 851,666
Federal agency securities 5,815,833 5,665,325 150,508
Corporate medium term notes 1,345,192 83,978 — 1,026,028 235,186
Municipal Bonds 147,681 — — — 147,681
Common stock 4,110,026 4,110,026 — — —
Money market funds 17,444,862 17,444,862 — — —
Total $ 644,881,988 209,594,015 142,462,528 291,590,912 1,234,533
Investments with Fair Values Highly Sensitive to Interest Rate Fluctuations
The City’s investments as of June 30, 2008 (including investments held by bond trustees) do not include
any investments that are highly sensitive to interest rate fluctuations to a greater degree than already
indicated in the information provided above.
Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder
of the investment. This is measured by the assignment of a rating by a nationally recognized statistical
rating organization. Presented below is the minimum rating required by (where applicable) the
California Government Code, the City’s investment policy, or debt agreements, and the actual rating as
of year end for each investment type.
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