1998 07 08 IABCjl?ity" 0
4 04� Qum&
78-495 CALLE TAMPICO — LA QUINTA, CALIFORNIA 92253 - (760) 777-7000
FAX (760) 777-7101
AGENDA TDD (760) 777-1227
INVESTMENT ADVISORY BOARD
Study Session Room
78-495 Calle Tampico- La Quinta, CA 92253
July 8, 1998 - 5:30 P.M.
I CALL TO ORDER
a. Pledge of Allegiance
b. Roll Call
C. Introduction of New Board Members
II APPOINTMENT OF OFFICERS
A. Appointment of Investment Advisory Board Chairperson
B. Appointment of Investment Advisory Board Vice -Chairperson
II CONFIRMATION OF AGENDA
III PUBLIC COMMENT - (This is the time set aside for public comment on any matter not scheduled on the agenda.)
IV CONSENT CALENDAR
A. Approval of Minutes of Meeting on June 10, 1998 for the Investment
Advisory Board.
V BUSINESS SESSION
A. Transmittal of Treasury Report for May 31, 1998
B. Meeting & Time Schedule for Fiscal Year 1998/99
VI CORRESPONDENCE AND WRITTEN MATERIAL
A. Month End Cash Report - June.. 1998
B. Distribution of Investment !policies for Fiscal Year 1998/99
C. Pooled Money Investment Board Reports - April 1998
VII BOARD MEMBER ITEMS
VIII ADJOURNMENT
spa �
MAILING ADDRESS — P.O. BOX 1504 — LA QUINTA, CALIFORNIA 92253 �`
INVESTMENT ADVISORY BOARD Business Session: A
Meeting Date: July 8, 1998
ITEM TITLE:
Transmittal of Treasury Report
for May 31, 1998
BACKGROUND:
Attached please find the Treasury Report for May 31, 1998.
RECOMMENDATION:
Review, Receive and File the Treasury Report of May 31, 1998.
ohn M. Falcon6r, Finance Director
TO:
FROM:
SUBJECT:
DATE:
T a 4hf4� Qur�rw
MEMORANDUM
La Quinta City Council
John Falconer, Finance Director/Treasurer
Treasurer's Report for May 31, 1998
June 25, 1998
Attached is the Treasurer's Report for the month ending May 31, 1998. This report is submitted to the City
Council each month after a reconciliation of accounts is accomplished by the Finance Department.
Cash and Investments:
Decrease of $1,233,034. due to the net effect of expenditures in excess of revenues.
State Pool:
Increase of $2,900,000. due to the net effect of transfers to and from the cash and
investment accounts.
U.S. Treasury Bills, Notes, Securities and Commercial Paper:
Increase of $7,015,461. due to the purchase of a T-Note, Commercial Paper and
monthly adjustment of the amortized value of the investments.
Mutual Funds:
Decrease of $2,809,819. due to the net effect of the purchase of 1 T-Note, debt service
payments and interest earned.
Total increase in cash balances $5,872,608.
I certify that this report accurately reflects all pooled investments and is in compliance with the California
Government Code; and is in conformity with the City Investment policy.
As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated
revenues are available to meet the pools expenditure requirements for the next six months. The City of La
Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and Bank of New York Monthly
Custodian Report to determine the fair market value of investments at month end.
ohn M. Falconer
'inance Director/Treasurer
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CITY OF LA QUINTA
CITY
CITY
RDA RDA FA
BALANCE SHEET 05131/98
FIXED
LONG TERM
FIXED LONG TERM FINANCING LONG TERM
GRAND
CITY
ASSETS
DEBT RDA
ASSETS DEBT AUTHORITY DEBT
TOTAL
,ASSETS:
POOLED CASH
(3,022,839.99)
11,531,183.88
(14,012.22)
8,494,331.67
LQRP INVESTMENT IN POOLED CASH
470,000.00
470.000.00
INVESTMENT T-BILL/NOTES & OTHER
21,983,552.84
21,983,552.84
LQRP CASH
40,723.13
40.723.13
BOND REDEFGPTION CASH
187,547.92
1,154.68
188,702.60
BOND RESERVE CASH
536,143.39
536,143.39
BOND PROJECT CASH '
8,114,637.81
599,361.74
8,713,999.55
BOND ESCROW CASH
2,698.49
2,698.49
PETTY CASH
1,000.00
- - ~
1,000.00
CASH & INVESTMENT TOTAL
--
18,961,712.85
20,882,934.62
586,504.20
' 40,431,151.67
INVESTMENT IN LAND HELD FOR RESALE
86,319.85
86,319.85
ACCOUNTS RECEIVABLE
53,339.12
81.257.68
8,505,000.00
8,639,596.80
PREMIUM/DISCOUNT ON INVESTMENT
(26,928.66)
(88,668.27)
80.69
(115,516.24)
LQRP-ACCOUNTS RECEIVABLE
18,216.98
18,216.98
INTEREST RECEIVABLE
2,383.33
2,383.33
LOAN/NOTES RECEIVABLE
2,560,5W.03
2,560,500.03
DUE FROM OTHER AGENCIES
-
DUE FROM OTHER GOVERNMENTS
DUE FROM OTHER FUNDS
551,038.04
551,038.04
DUE FROM RDA
6,890,277.20
6,890,277.20
INTEREST ADVANCE -DUE FROM RDA
1,952,297.90
1,952,297.90
NSF CHECKS RECEIVABLE
6,158.71
6,158.71
ACCRUED REVENUE
43,874.22
43,874.22
TRAVEL ADVANCES
752.00
752.00
EMPLOYEE ADVANCES
PREPAID EXPENSES
760.00
_ _ _ - _
760.00
RECEIVABLE TOTAL
8,879,039.60
3,166,218.68
8,505,080.69
20,550,338.97
WORKER COMPENSATION DEPOSIT
37.637.00
37,637.00
RENT DEPOSITS
UTILITY DEPOSITS
75.00
75.00
MISC. DEPOSITS
2,100.00
_
2.100.00
DEPOSITS TOTAL
39,812.00
39,812.00
GENERAL FIXED ASSETS
693,426.00
14,947,094.00
11,438,745.05
27,079,265.05
ACCUMULATED DEPRECIATION
(114,161.96)
(114.161.96)
AMOUNT AVAILABLE TO RETIRE LIT DEBT
2,340,653.00
2,340,653.00
AMOUNT TO BE PROVIDED FOR LIT DEBT
1,078,964.00
_ 97,581,676.76 8,505,000.00
107,165,640.76
TOTAL OTHER ASSETS
579.264.04
14,947,094.00
1,078,964.00
11,438,745.05 99,922,329.76 8,505,000.00
136,471,396.85
TOTAL ASSETS
28 459.828.49
14,947,094.00
1,078,964.00 24135 47315
11 438 745.05 99 922 329.76 9.091 584;8.9 8,505,000.00
197,579 019.34
LIABILITY
ACCOUNTS PAYABLE (62,192.19)
DUE TO OTHER AGENCIES 441,077.92
DUE TO OTHER FUNDS 551,038.04
INTEREST ADVANCE -DUE TO CITY
ACCRUED EXPENSES
(62,192.19)
441.077.92
551,038.04
PAYROLL LIABILITIES
153,501.36
153,501.36
STRONG MOTION INSTRUMENTS
2,228.90
2,228.90
FRINGE TOED LIZARD FEES
1,395.76
1,395.76
SUSPENSE
29,914.23
29,914.23
DUE TO THE CITY OF LA QUINTA
_
T
---
PAYABLES TOTAL---628,118.17
488,845.85
1,116,964.02
ENGINEERING TRUST DEPOSITS
88,330.02
88,330.02
SO. COAST AIR QUALITY DEPOSITS
ARTS IN PUBLIC PLACES DEPOSITS
252,635.20
252.635.20
LQRP DEPOSITS
12.771.00
12,771.00
DEVELOPER DEPOSITS
674,061.25
674,061.25
MISC. DEPOSITS
130,013.56
130,013.56
AGENCY FUND DEPOSITS
1,398,425.07
1,398,425.07
TOTAL DEPOSITS
2,543,465.10
12,771.00
2,556,236.10
DEFERRED REVENUE
-
8,505,000.00
8,505,000.00
OTHER LIABILITIES TOTAL
8,505,000.00
8,505,000.00
COMPENSATED ABSENCES PAYABLE
350,653.00
350,653.00
DUE TO THE CITY OF LA QUINTA
728.311.00 8,910,076.89
9,638,387.89
DUE TO COUNTY OF RIVERSIDE
11,547,127.87
11,547,127.87
DUE TO C.V. UNIFIED SCHOOL DIST.
10,690,125.00
10,690,125.00
DUE TO DESERT SANDS SCHOOL DIST.
BONDS PAYABLE
68,775,000.00
- -
_
8,505,000.00 77,280,000.00
TOTAL LONG TERM DEBT ;
1,078,964.00 99,922,329.76
8,505,000.00 109,506,293.76
TOTAL LIABILITY
3,171,583.27
1,078,964.00 501,616.85 99,922,329.76
8,505,000.00
8,505,000.00 121,684,493.88
EQUITY -FUND BALANCE
25,288,245.22 14,947,094.00
23,633,856.30 11,438,745.05
586,584.89
75,894,525.46
TOTAL LIABILITY & EQUITY 28,459 828 49 14 947 084.00 1 078 964.00 24135 47315 11 438 745 05 99 922 329.76 9 091 584.89 8 505 000.00 197 579,019.34
INVESTMENT ADVISORY BOARD MEETING BUSINESS SESSION: B
Meeting Date: July 8, 1998
ITEM TITLE
Meeting Schedule for Fiscal Year
1998/99
BACKGROUND:
Attached find a listing of meeting dates for Fiscal Year 1998/99. The City Council
meeting for September 1, 1998 has been canceled. At their June 16, 1998
meeting the City Council changed the meeting time for the Investment Advisory
Board from 5:30 pm to 7:00 pm for all meetings after July 8, 1998.
RECOMMENDATION:
Approve the meeting schedule of the Investment Advisory Board for Fiscal Year
1998/99.
John M. Falconer, Finance Director
TO: Investment Advisory Board Members
FROM: John M. Falconer, Finance Director
DATE: - July 8, 1998
RE: Schedule of Investment Advisory Board Meeting Schedule
The City Ordinance specifies that the Investment Advisory Board will meet quarterly
unless the Board believes more frequent meetings are considered necessary. In the
past, the Board has met monthly except for the Months of August and December.
Listed below are meeting dates for the Boards review.
Monthly
July 8, 1998
August 12, 1998
September 9, 1998
October 13, 1998
November 11, 1998
December 9, 1998
January 13, 1999
February 10, 1999
March 10, 1999
April 14, 1999
May 12, 1999
June 9, 1999
Quarterly
September 9, 1998
December 9, 1998
March 10, 1999
June 9, 1999
Please consider the schedules for Fiscal Year 1998/99 and give Staff direction.
INVESTMENT ADVISORY BOARD Correspondence &
Written Material A
Meeting Date: July 8, 1998
TITLE:
Month End Cash Report - June 1998
BACKGROUND:
This cash report is not a complete Treasury Report (exclude petty cash, deferred
compensation and fiscal agent balances, ) but would report in a timely fashion
selected cash balances.
RECOMMENDATION:
Information item only.
ohn M. Falcorier, Finance Director
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INVESTMENT ADVISORY BOARD MEETING Correspondence and
Written Material: B
Meeting Date: July 8, 1998
ITEM TITLE
Distribution of Investment Policies
for Fiscal Year 1998/99
BACKGROUND:
On June 16, 1998 the City Council approved the Investment Policies for Fiscal Year
1998/99 which are attached.
RECOMMENDATION:
Receive and File.
hri M. Falconer, Finance Director
INVESTMENT ADVISORY BOARD
Meeting Date:
TITLE:
July 8, 1998
Pooled Money Investment Board Report
BACKGROUND:
Correspondence & Written
Material Item C
The Pooled Money Investment Board Report for April, 1998 is included in the
agenda packet.
RECOMMENDATION:
Receive & File
ohn M. Falconer, Finance Director
STATE OF CALIFORNIA
STATE TREASURER'S OFFICE
POOLED MONEY INVESTMENT BOARD REPORT
APRIL 1998
Table of Contents
SUMMARY............................................................................................................1
SELECTED INVESTMENT DATA....................................................................2
PORTFOLIOCOMPOSITION...........................................................................3
INVESTMENT TRANSACTIONS......................................................................4
TIMEDEPOSITS................................................................................................19
DEMAND BANK DEPOSITS............................................................................23
POOLED MONEY INVESTMENT BOARD DESIGNATION .....................24
POOLED MONEY INVESTMENT ACCOUNT
SUMMARY OF INVESTMENT DATA
A COMPARISON OF APRIL 1998 WITH APRIL 1997
(Dollars in Thousands)
Apri1199$ April 1991 ' Change
Average Daily Portfolio
$29,141,554
$27,976,577
+ $1,164,977
Accrued Earnings
$135,861
$129,040
+ $6,821
Effective Yield
5.672
5.612
+ .06
Average Life --Month End (in days)
185
227
- 42
Total Security Transactions
Amount
$21,130,580
$20,206,701
+ $923,879
Number
490
470
+ 20
Total Time Deposit Transactions
Amount
$708,600
$237,190
+ $471,410
Number
43
30
+ 13
Average Workday Investment Activity
$992,690
$929,268
+ $63,422
Prescribed Demand Account Balances
For Services
$147,112
$135,537
+ $11,575
For Uncollected Funds
$256,261
$228,662
+ $27,599
—1—
MATT FONG
STATE TREASURER
STATE OF CALIFORNIA
INVESTMENT DIVISION
SELECTED INVESTMENT DATA
ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED)
Change in
April 30.)1998 Percent From
Type of Security Amount Percent Previous Month
Governments
Bills
$296119190
7.95
- .59
Bonds
0
0
0
Notes
49784,935
14.57
- 3.71
Strips
739184
.22
- .04
Total Governments
$79469,309
22.74
- 4.34
Federal Agency Coupons
29212,891
6.74
- .77
Certificates of Deposit
7,2299,699
22.03
+ 1.94
Bank Notes
11425,000
4.34
+ .73
Bankers Acceptances
280,692
.85
+ .19
Repurchases
0
0
0
Federal Agency Discount Notes
19196,606
3.64
- .58
Time Deposits
194169,390
4.31
- .19
GNMA's
2,395
.01
0
Commercial Paper
8,994,653
27.39
+ 3.91
FHLMC
23,547
.07
- .01
Corporate Bonds
19,550,658
4.73
- .68
Pooled Loans
19711,743
5.21
+ 1.03
GF Loans
0
0
- 1.53
Reversed Repurchases
-676,432
-2.06
- .30
Total, All Types
$329,8379151
100
INVESTMENT ACTIVITY
Pooled Money
Other
Time Deposits
TOTALS
PMIA Monthly Average
Effective Yield
Year to Date Yield for
Last Day of Month
April 1998
Number Amount
490 $ 21,1309580
42 1379718
43 7089600
575 $ 219976,898
5.672
5.706
March 1998
Number Amount
377 $ 16,987,472
86 1,311,915
57 652,695
520 $ 189,9529082
5.680
5.709
-2-
Commercial
Paper
27.39%
Ac
Pooled Money Investment Account
Portfolio Composition
$32.8 Billion
Corporate
Loans Reverses
° _2.06%
Bonds 5.21 /o
0
'8 ° CD's/BN's
26.37%
suries
74%
Time Deposits
4.31 %
Mortgages
0.08%
,gencies
10.38%
4/30/98
® Treasuries
® Time Deposits
■ Mortgages
® Agencies
■ C D's/B N's
® Bankers Acceptances
M Repo
M Commercial Paper
® Corporate Bonds
Loans
® Reverses
-3-
04/01/98 RRS
Treas Note
Treas Note
REDEMPTION
5.125% 06/30/98 5.255 $50,000
5.125% 06/30/98 5.255 50,000
CD
BNParis
5.730% 04/01/98
5.650
25,000
177
695,282.70
5.733
CID
Comnwealth
04/01/98
6.200
17,000
1
2,917.78
6.287
CID
GE Co.
04/01/98
6.050
48,000
1
8,066.67
6.135
CID
Merrill
04/01/98
6.050
50,000
1
8,402.78
6.135
CID
Heller
04/01/98
6.135
50,000
1
8,402.78
6.135
CID
Conagra
04/01/98
6.150
25,000
1
4,270.83
6.236
CID
Conagra
04/01/98
6.150
50,000
1
8,541.67
6.236
CID
Hertz
04/01/98
5.820
25,000
2
8,083.33
5.902
CID
Conagra
04/01/98
5.900
30,000
2
9,833.33
5.983
CID
Conagra
04/01/98
5.770
35,000
5
28,048.61
5.854
CID
Conagra
04/01/98
5.770
50,000
5
40,069.44
5.854
CID
Amer Exp
04/01/98
5.580
50,000
5
38,750.00
5.661
CID
Amer Exp
04/01/98
5.580
50,000
5
38,750.00
5.661
CID
Amer Exp
04/01/98
5.580
50,000
5
38,750.00
5.661
CID
Amer Exp
04/01/98
5.580
50,000
5
38,750.00
5.661
CID
GMAC
04/01/98
5.580
50,000
9
69,750.00
5.665
CID
GMAC
04/01/98
5.580
50,000
9
69,750.00
5.665
CID
GMAC
04/01/98
5.580
50,000
9
69,750.00
5.665
CID
GECC
04/01/98
5.580
50,000
9
69,750.00
5.665
CID
GECC
04/01/98
5.580
50,000
9
69,750.00
5.665
CID
Salomon
04/01/98
5.550
50,000
12
92,500.00
5.637
CID
Salomon
04/01/98
5.550
50,000
12
92,500.00
5.637
CID
Salomon
04/01/98
5.550
50,000
12
92,500.00
5.637
CID
Salomon
04/01/98
5.550
50,000
12
92,500.00
5.637
CID
Conagra
04/01/98
5.650
50,000
29
227,569.44
5.754
CID
Lehman
04/01/98
5.520
50,000
36
276,000.00
5.627
CID
Lehman
04/01/98
5.520
10,000
36
55,200.00
5.627
CID
GMAC
04/01/98
5.500
50,000
36
275,000.00
5.607
CID
GMAC
04/01/98
5.500
50,000
36
275,000.00
5.607
CID
Text Fin
04/01/98
5.630
40,000
37
231,455.56
5.741
CID
Text Fin
04/01/98
5.620
23,000
40
143,622.22
5.733
CID
Salomon
04/01/98
5.500
50,000
41
313,194.40
5.611
CID
Salomon
04/01/98
5.500
50,000
41
313,194.44
5.611
CID
Bear
04/01/98
5.490
50,000
47
358,375.00
5.606
CID
Bear
04/01/98
5.490
20,000
47
143,350.00
5.606
CID
Lehman
04/01/98
5.480
50,000
63
479,500.00
5.609
CID
Lehman
04/01/98
5.770
50,000
103
825,430.56
5.948
CP
Lehman
04/01/98
5.770
50,000
103
825,430.56
5.948
PURCHASE g/
CD Stnrd Ch 5.590% 06/30/98 5.580 50,000
CD Stnrd Ch 5.590% 06/30/98 5.580 50,000
—4—
04/01/98 PURCHASE
CID
Conagra
CP
Heller
CP
GECC
CP
GECC
04/02/98 REDEMPTION
CD
BNParis
CID
Conagra
CP
Heller
CID
GECC
CID
GECC
CID
FMCC
CID
FMCC
CP
FMCC
CP
FMCC
CID
Hertz
CID
GECC
CID
GECC
CID
Heller
PURCHASE
CID
Hertz
CP
Salomon
CID
Salomon
CP
Conagra
CID
Conagra
CID
Heller
CP
Heiler
CID
Conagra
CP
Comnwealth
CID
Merrill
CID
FMCC
CID
FMCC
CP
FMCC
PURCHASE .c/
Treas
Note
Treas
Note
Treas
Note
Treas
Note
Treas
Note
Treas
Note
04/02/98
5.750
04/02/98
5.750
04/02/98
5.750
04/02/98
5.750
5.740% 04/02/98
5.650
04/02/98
5.750
04/02/98
5.750
04/02/98
5.750
04/02/98
5.750
04/02/98
5.800
04/02/98
5.800
04/02/98
5.800
04/02/98
5.800
04/02/98
5.530
04/02/98
5.550
04/02/98
5.550
04/02/98
5.780
04/08/98
5.550
04/08/98
5.550
04/08/98
5.550
04/09/98
5.600
04/09/98
5.600
04/10/98
5.750
04/10/98
5.750
04/14/98
5.600
04/14/98
5.770
04/14/98
5.550
04/14/98
5.530
04/14/98
5.530
04/14/98
5.530
5.875%
08/15/98
5.570
5.875%
08/15/98
5.570
5.875%
08/15/98
5.570
5.875%
08/15/98
5.570
5.875%
08/15/98
5.570
5.875%
08/15/98
5.570
50,000
50,000
50,000
50,000
25,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
20,000
50,000
50,000
49,000
25,000
50,000
50,000
10,000
50,000
50,000
50,000
17,355
22,000
50,000
26,000
50,000
50,000
2,808
50,000
50,000
50,000
50,000
50,000
178
699,138.44
5.732
1
7,986.11
5.830
1
7,986.11
5.830
1
7,986.11
5.830
1
7,986.11
5.830
3
24,166.67
5.883
3
24,166.67
5.883
3
24,166.67
5.883
3
24,166.67
5.883
13
39,938.89
5.618
13
100,208.33
5.638
13
100,208.33
5.638
30
236,016.67
5.888
—5-
04/03/98 REDEMPTION
CP
GECC
CP
GECC
CP
GECC
CP
Salomon
CP
Salomon
CP
GECC
CP
GECC
SALE s;/
Treas
Note
Treas
Note
Treas
Note
Treas
Note
Treas
Note
Treas
Note
PURCHASE
CP
GECC
CP
GECC
CP
Amer Exp
CP
Amer Exp
CP
Conagra
PURCHASE/
Disc Note
FHLB
Dsic Note
FHLB
Treas
Note
Treas
Note
Treas
Note
Treas
Note
Treas
Note
Treas
Note
Treas
Note
04/06/98 REDEMPTION
CP
GECC
CP
GECC
SALE r/
Disc Note
FHLB
Disc Note
FHLB
Treas
Note
Treas
Note
Treas
Note
04/03/98
5.590
50,000
7
54,347.22
5.673
04/03/98
5.590
50,000
7
54,347.22
5.673
04/03/98
5.580
40,000
11
68,200.00
5.667
04/03/98
5.590
50,000
11
85,402.78
5.677
04/03/98
5.590
50,000
11
85,402.78
5.677
04/03/98
5.550
50,000
14
107,916.67
5.639
04/03/98
5.550
50,000
14
107,916.67
5.639
5.875%
08/15/98
5.570
2,808
1
429.35
5.647
5.875%
08/15/98
5.570
50,000
1
7,650.24
5.647
5.875%
08/15/98
5.570
50,000
1
7,650.24
5.647
5.875%
08/15/98
5.570
50,000
1
7,650.24
5.647
5.875%
08/15/98
5.570
50,000
1
7,650.24
5.647
5.875%
08/15/98
5.570
50,000
1
7,650.24
5.647
04/06/98
5.520
50,000
04/06/98
5.520
50,000
04/08/98
5.450
50,000
04/08/98
5.450
50,000
04/08/98
5.540
50,000
07/22/98
5.530
1,880
07/22/98
5.530
50,000
5.000%
01 /31 /99
5.510
41,000
7.125%
09/30/99
5.510
20,000
5.875%
11/15/99
5.510
28,000
7.750%
01/31/00
5.510
45,000
6.875%
03/31 /00
5.510
12,697
5.625%
02/28/01
5.510
19,200
6.125%
12/31/01
5.510
33,000
04/06/98
5.520
50,000
3
23,000.00
5.599
04/06/98
5.520
50,000
3
23,000.00
5.599
07/22/98
5.530
1,880
3
832.73
5.606
07/22/98
5.530
50,000
3
22,208.94
5.606
5.000% 01 /31 /99
5.510
41,000
3
18,514.52
5.586
7.125% 09/30/99
5.510
20,000
3
9,199.86
5.586
5.875% 11 /15/99
5.510
28,000
3
12,942.99
5.586
EM
04/06/98 REDEMPTION
Treas
Note
7.750%
01 /31 /00
5.510
45,000 3
21,282.37
5.586
Treas
Note
6.875%
03/31 /00
5.510
12,697 3
5,854.83
5.586
Treas
Note
5.625%
02/28/01
5.510
19,200 3
8,691.57
5.586
Treas
Note
6.125%
12/31/01
5.510
33,000 3
15,347.19
5.586
PURCHASE
CP
GECC
04/07/98
5.530
50,000
CP
GECC
04/07/98
5.530
50,000
CP
GECC
04/07/98
5.530
50,000
CP
GECC
04/07/98
5.530
50,000
CP
Amer Exp
04/09/98
5.520
10,000
CP
Amer Exp
04/09/98
5.520
50,000
CP
Amer EXp
04/09/98
5.520
50,000
CP
Amer Exp
04/09/98
5.520
50,000
CP
Enron
04/14/98
5.600
11,000
CP
Conagra
04/14/98
5.540
539
CP
Conagra
04/14/98
5.540
50,000
CP
Salomon
04/14/98
5.520
50,000
CP
Salomon
04/14/98
5.520
50,000
04/07/98 REDEMPTION
CP
GECC
04/07/98
5.530
50,000
1
7,680.56
5.607
CP
GECC
04/07/98
5.530
50,000
1
7,680.56
5.607
CP
GECC
04/07/98
5.530
50,000
1
7,680.56
5.607
CP
GECC
04/07/98
5.530
50,000
1
7,680.56
5.607
CP
Salomon
04/07/98
5.560
50,000
14
108,111.11
5.649
CP
Salomon
04/07/98
5.560
50,000
14
108,111.11
5.649
PURCHASE
CD
Soc Gen
5.910%
09/04/98
5.580
26,000
CD
WestDeut
5.560%
09/28/98
5.560
50,000
CD
WestDeut
5.560%
09/28/98
5.560
50,000
CD
Cr Agric
5.560%
09/28/98
5.560
50,000
CD
Cr Agric
5.560%
09/28/98
5.560
50,000
CD
U/B Calif
5.560%
09/28/98
5.560
50,000
CD
U/B Calif
5.560%
09/28/98
5.560
50,000
CP
GECC
04/08/98
5.450
50,000
CP
GECC
04/08/98
5.450
50,000
CP
GECC
04/08/98
5.450
50,000
CP
GECC
04/08/98
5.450
50,000
—7—
04/08/98 REDEMPTION
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
Amer Exp
CP
Amer Exp
CP
Conagra
CP
Hertz
CP
Salomon
CP
Salomon
CP
Country
PURCHASE
CP GECC
04/09/98 REDEMPTION
CD
Montreal
CD
Montreal
CP
GECC
CP
Amer Exp
CP
Amer Exp
CP
Amer Exp
CP
Amer Exp
CP
Conagra
CP
Conagra
PURCHASE
CP
FMCC
CP
FMCC
CP
GMAC
CP
GMAC
CP
GMAC
CP
GECC
CP
GECC
04/10/98 REDEMPTION
CP
FMCC
CP
FMCC
CP
Heller
CP
Heller
NO PURCHASES
04/08/98
5.450
50,000
1
7,569.44
5.526
04/08/98
5.450
50,000
1
7,569.44
5.526
04/08/98
5.450
50,000
1
7,569.44
5.526
04/08/98
5.450
50,000
1
7,569.44
5.526
04/08/98
5.450
50,000
5
37,847.22
5.529
04/08/98
5.450
50,000
5
37,847.22
5.529
04/08/98
5.540
50,000
5
38,472.22
5.621
04/08/98
5.550
25,000
6
23,125.00
5.632
04/08/98
5.550
50,000
6
46,250.00
5.632
04/08/98
5.550
50,000
6
46,250.00
5.632
04/08/98
5.600
50,000
16
124,444.44
5.691
04/09/98 5.560 45,000
5.570% 04/09/98
5.570
50,000
14
108,305.56
5.647
5.570% 04/09/98
5.570
50,000
14
108,305.56
5.647
04/09/98
5.560
45,000
1
6,950.00
5.638
04/09/98
5.520
10,000
3
4,600.00
5.599
04/09/98
5.520
50,000
3
23,000.00
5.599
04/09/98
5.520
50,000
3
23,000.00
5.599
04/09/98
5.520
50,000
3
23,000.00
5.599
04/09/98
5.600
10,000
7
10,888.89
5.683
04/09/98
5.600
50,000
7
54,444.44
5.683
04/10/98
5.510
50,000
04/10/98
5.510
50,000
04/13/98
5.500
50,000
04/13/98
5.500
50,000
04/13/98
5.500
50,000
04/13/98
5.500
50,000
04/13/98
5.500
50,000
04/10/98
5.510
50,000
1
7,652.78
5.587
04/10/98
5.510
50,000
1
7,652.78
5.587
04/10/98
5.750
50,000
8
63,888.89
5.837
04/10/98
5.750
50,000
8
63,888.89
5.837
—8—
04/13/98 REDEMPTION
CP
GMAC
CP
GMAC
CP
GMAC
CP
GECC
CP
GECC
PURCHASE
CP
GMAC
CP
GMAC
CP
Conagra
CP
Unocal
CP
Conagra
CP
Conagra
CP
Salomon
CP
Salomon
PURCHASE.d
Treas
Strips
Treas
Strips
Treas
Strips
04/14/98 REDEMPTION
CP
Enron
CP
Conagra
CP
Conagra
CP
Salomon
CP
Salomon
CP
Country
CP
FMCC
CP
FMCC
CP
FMCC
CP
Conagra
CP
Comnwealth
CP
Merrill
CP
GMAC
CP
GMAC
SALE sJ
Treas
Strips
Treas
Strips
Treas
Strips
04/13/98
5.500
50,000
4
30,555.56
5.579
04/13/98
5.500
50,000
4
30,555.56
5.579
04/13/98
5.500
50,000
4
30,555.56
5.579
04/13/98
5.500
50,000
4
30,555.56
5.579
04/13/98
5.500
50,000
4
30,555.56
5.579
04/14/98
5.540
50,000
04/14/98
5.540
5,000
04/27/98
5.620
47,500
06/08/98
5.670
11,900
05/27/98
5.610
50,000
05/27/98
5.610
15,000
07/01 /98
5.480
50,000
07/01 /98
5.480
8,000
05/15/99 5.540 14,900
08/15/99 5.540 50,000
08/15/00 5.540 47,341
04/14/98
5.600
11,000
8
13,688.89
5.684
04/14/98
5.540
539
8
663.57
5.623
04/14/98
5.540
50,000
8
61,555.56
5.623
04/14/98
5.520
50,000
8
61,333.33
5.603
04/14/98
5.520
50,000
8
61,333.33
5.603
04/14/98
5.600
40,000
19
118,222.22
5.694
04/14/98
5.530
26,000
12
47,926.67
5.617
04/14/98
5.530
50,000
12
92,166.67
5.617
04/14/98
5.530
50,000
12
92,166.67
5.617
04/14/98
5.600
17,355
12
32,396.00
5.688
04/14/98
5.770
22,000
12
42,313.33
5.861
04/14/98
5.550
50,000
12
92,500.00
5.637
04/14/98
5.540
50,000
1
7,694.44
5.617
04/14/98
5.540
5,000
1
769.44
5.617
05/15/99
5.540
14,900
1
2,114.59
5.616
08/15/99
5.540
50,000
1
7,001.79
5.616
08/15/00
5.540
47,341
1
6,272.51
5.616
04/14/98 PURCHASE
CP
FMCC
04/16/98
5.560
50,000
CP
FMCC
04/16/98
5.560
50,000
CP
FMCC
04/16/98
5.560
50,000
CP
FMCC
04/16/98
5.560
50,000
CP
FMCC
04/16/98
5.560
50,000
CP
FMCC
04/16/98
5.560
50,000
CP
Conagra
04/16/98
5.630
42,443
CD
Montreal
5.570%
08/27/98
5.570
50,000
CD
Montreal
5.570%
08/27/98
5.570
50,000
CD
Cr Agric
5.580%
08/27/98
5.580
50,000
CD
Cr Agric
5.580%
08/27/98
5.580
10,000
CD
U/B Calif
5.590%
09/25/98
5.590
50,000
04/15/98 REDEMPTION
FNMA
6.020%
04/15/98
6.119
50,000 365
PURCHASE
FHLB
5.540%
04/07/99
5.650
25,000
CP
GECC
04/16/98
5.750
50,000
CP
GECC
04/16/98
5.750
50,000
CP
GECC
04/16/98
5.750
50,000
CP
GECC
04/16/98
5.750
50,000
CP
GECC
04/16/98
5.750
50,000
CP
GECC
04/16/98
5.750
50,000
CP
GECC
09/28/98
5.430
50,000
CP
GECC
09/28/98
5.430
50,000
CD
Montreal
5.570%
09/30/98
5.570
50,000
CD
Mellon
5.500%
09/28/98
5.500
50,000
CD
Mellon
5.500%
09/28/98
5.500
50,000
CP
Lehman
08/20/98
5.500
50,000
CP
Lehman
08/20/98
5.500
50,000
CD
U/B Calif
5.590%
09/28/98 .
5.590
50,000
CD
U/B Calif
5.590%
09/28/98
5.590
50,000
CP
Comnwealth
06/01/98
5.700
18,000
CP
Conagra
04/16/98
5.800
19,370
CP
GMAC
08/06/98
5.460
22,835
CD
BNParis
5.560%
09/30/98
5.560
50,000
CD
BNParis
5.560%
09/30/98
5.560
50,000
PURCHASE r/
FFCB
5.670%
04/14/00
5.750
24,575
FHLB
5.625%
03/19/01
5.750
10,000
FNMA
6.670%
08/27/02
5.750
31,500
47,500.00 6.120
—10-
04/16/98 REDEMPTION
CP
GECC
04/16/98
5.750
50,000
1
7,986.11
5.830
CP
GECC
04/16/98
5.750
50,000
1
7,986.11
5.830
CP
GECC
04/16/98
5.750
50,000
1
7,986.11
5.830
CP
GECC
04/16/98
5.750
50,000
1
7,986.11
5.830
CP
GECC
04/16/98
5.750
50,000
1
7,986.11-
5.830
CP
GECC
04/16/98
5.750
50,000
1
7,986.11
5.830
CP
FMCC
04/16/98
5.560
50,000
2
15,444.44
5.638
CP
FMCC
04/16/98
5.560
50,000
2
15,444.44
5.638
CP
FMCC
04/16/98
5.560
50,000
2
15,444.44
5.638
CP
FMCC
04/16/98
5.560
50,000
2
15,444.44
5.638
CP
FMCC
04/16/98
5.560
50,000
2
15,444.44
5.638
CP
FMCC
04/16/98
5.560
50,000
2
15,444.44
5.638
CP
Conagra
04/16/98
5.800
19,370
1
3,120.72
5.881
CP
Conagra
04/16/98
5.630
42,443
2
13,275.23
5.709
SALE S!
FFCB
5.670%
04/14/00
5.750
24,575 1 3,912.61 5.829
FHLB
5.625%
03/19/01
5.750
10,000 1 1,598.82 5.829
FNMA
6.670%
08/27/02
5.750
31,500 1 4,870.51 5.829
PURCHASE
CP
GECC
09/01/98
5.460
50,000
CP
GECC
09/01/98
5.460
50,000
CP
GECC
09/01/98
5.460
50,000
CP
GECC
09/01/98
5.460
50,000
CP
GMAC
10/01/98
5.440
50,000
CP
GMAC
10/01 /98
5.440
50,000
CP
GMAC
10/01 /98
5.440
50,000
CP
GMAC
09/28/98
5.440
50,000
CP
GMAC
09/28/98
5.440
50,000
CP
Hertz
09/01/98
5.480
25,000
CP
GECC
09/02/98
5.460
50,000
CP
GECC
09/02/98
5.460
20,000
CP
Merrill
09/01/98
5.460
50,000
CP
Conagra
05/27/98
5.620
50,000
CP
Conagra
05/27/98
5.620
25,000
CP
Country
05/11 /98
5.540
5,000
CP
Country
05/11/98
5.540
50,000
CD
Cr Agric
5.560%
09/28/98
5.560
50,000
CD
Cr Agric
5.560%
09/28/98
5.560
50,000
CD
Deutsche
5.560%
09/28/98
5.560
50,000
CD
Deutsche
5.560%
09/28/98
5.560
50,000
CD
BNParis
5.570%
09/28/98
5.570
50,000
CD
BNParis
5.570%
09/28/98
5.570
50,000
04/17/98 NO REDEMPTIONS
—11-
04/17/98 PURCHASE
CID
GMAC
08/27/98
5.460
50,000
CID
GMAC
08/27/98
5.460
50,000
CID
GMAC
08/28/98
5.460
50,000
CID
GMAC
08/28/98
5.460
50,000
BN
NationsBk
5.560%
08/27/98
5.560
50,000
BN
NationsBk
5.560%
08/27/98
5.560
50,000
BN
NationsBk
5.560%
08/27/98
5.560
50,000
BN
NationsBk
5.560%
08/27/98
5.560
50,000
CID
Bkrs Trst
08/27/98
5.460
50,000
CID
Bkrs Trst
08/27/98
5.460
50,000
CID
Bkrs Trst
08/27/98
5.460
50,000
04/20/98 NO REDEMPTIONS
PURCHASE
CD
U/B Calif
CD
U/B Calif
CID
Assoc
CID
Assoc
CID
Unocal
CID
GECC
CID
GECC
CID
Hertz
CID
Salomon
CID
Salomon
CID
Morg Stan
CID
Morg Stan
CID
FMCC
CID
FMCC
CID
FMCC
CID
FMCC
CID
GMAC
CID
GMAC
04/21/98 REDEMPTION
CID
Assoc
CID
Assoc
PURCHASE
BA
U/B Calif
BA
U/B Calif
BN
NB Detroit
BN
NB Detroit
BN
NB Detroit
BN
NB Detroit
5.560% 07/29/98
5.560% 07/29/98
04/21 /98
04/21 /98
05/07/98
07/01 /98
07/01 /98
07/10/98
07/10/98
07/10/98
07/21 /98
07/21 /98
07/27/98
07/27/98
07/29/98
07/29/98
09/28/98
09/28/98
04/21 /98
04/21 /98
05/11 /98
05/15/98
5.520%
08/27/98
5.520%
08/27/98
5.520%
08/28/98
5.520%
08/28/98
—12-
5.560
5.560
5.490
5.490
5.670
5.480
5.480
5.510
5.490
5.490
5.490
5.490
5.480
5.480
5.480
5.480
5.430
5.430
50,000
50,000
15,000
50,000
10,000
50,000
50,000
25,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
5.490
15,000 1 2,287.50 5.567
5.490
50,000 1 7,625.00 5.567
5.520
25,000
5.520
15,000
5.520
50,000
5.520
50,000
5.520
50,000
5.520
50,000
04/21/98 PURCHASE
CD
Svenska
5.557%
07/20/98
5.540
20,000
CD
Svenska
5.557%
07/20/98
.5.540
50,000
CD
Bkrs Trst
5.580%
09/25/98
5.570
50,000
CD
Bkrs Trst
5.580%
09/25/98
5.570
50,000
CP
FMCC
07/08/98
5.490
50,000
CP
FMCC
07/08/98
5.490
50,000
CP
FMCC
07/14/98
5.490
50,000
CP
FMCC
07/14/98
5.490
50,000
CP
Bkrs Trst
09/25/98
5.510
50,000
CP
Bkrs Trst
09/25/98
5.510
50,000
CP
Lehman
09/28/98
5.530
50,000
CP
Lehman
09/28/98
5.530
50,000
Treas
Bill
04/01 /99
5.100
50,000
Treas
Bill
04101 /99
5.100
50,000
Treas
Bill
04/01 /99
5.100
50,000
Treas
Bill
04/01/99
5.100
50,000
04/22/98 NO REDEMPTIONS
PURCHASE
BA
U/B Calif
05/20/98
5.520
54,000
CD
Svenska
5.560% 07/20/98
5.570
50,000
CD
U/B Calif
5.650% 10/28/98
5.650
50,000
CD
U/B Calif
5.650% 10/28/98
5.650
50,000
CP
GECC
04/28/98
5.480
50,000
CP
GECC
04/28/98
5.480
50,000
CP
GECC
04/28/98
5.480
50,000
CP
GECC
04/28/98
5.480
50,000
CP
Salomon
04/28/98
5.500
50,000
CP
Salomon
04/28/98
5.500
50,000
CP
Conagra
05/04/98
5.600
13,356
CP
Text Fin
05/27/98
5.650
14,000
CP
Conagra
05/29/98
5.630
15,000
CP
SRAC
08/03/98
5.480
50,000
04/23/98 NO REDEMPTIONS
PURCHASE
CD
World
5.540% 04/28/98
5.470
50,000
CP
Salomon
05/27/98
5.510
50,000
CP
Salomon
05/27/98
5.510
50,000
CP
GMAC
06/01/98
5.490
50,000
CP
GMAC
06/01/98
5.490
50,000
CP
GMAC
06/01/98
5.490
50,000
CP
FMCC
07/27/98
5.480
50,000
CP
FMCC
07/27/98
5.480
50,000
—13—
04/23/98 PURCHASE
CP FMCC
07/29/98
5.480
50,000
CP FMCC
07/29/98
5.480
50,000
PURCHASE r/
Disc Note FHLMC
07/01/98
5.410
50,000
FNMA
06/11/98
5.410
50,000
FHLB
5.700% 03/17/99
5.410
40,000
FHLB
5.510% 04/01/99
5.410
27,000
FHLB
5.750% 04/27/99
5.410
12,130
04/24/98 SALE .QI
Disc Note FHLMC
07/01/98
5.410
50,000
1
7,290.73
5.485
Disc Note FNMA
06/11/98
5.410
50,000
1
7,312.52
5.485
FHLB
5.700% 03/17/99
5.410
40,000
1
5,920.94
5.485
FHLB
5.510% 04/01/99
5.410
27,000
1
3,986.57
5.485
FHLB
5.750% 04/27/99
5.410
12,130
1
1,787.85
5.485
PURCHASE
MTN
TransAm
7.610% 03/16/99
5.760
12,000
CP
Assoc
04/27/98
5.380
15,000
CP
Assoc
04/27/98
5.380
15,000
CP
Assoc
04/27/98
5.380
15,000
CP
Assoc
04/27/98
5.380
15,000
CP
Conagra
05/04/98
5.620
25,000
CP
FMCC
05/05/98
5.500
50,000
CP
FMCC
05/05/98
5.500
50,000
CP
FMCC
05/05/98
5.500
50,000
CP
FMCC
05/05/98
5.500
50,000
CP
Morg Stan
07/10/98
5.500
38,000
CP
Morg Stan
07/10/98
5.500
50,000
CP
Morg Stan
07/10/98
5.500
50,000
CP
Morg Stan
07/10/98
5.500
50,000
CP
Lehman
09/28/98
5.540
11,800
CP
Lehman
09/28/98
5.540
50,000
04/27/98 REDEMPTION
CP
Assoc
CP
Assoc
CP
Assoc
CP
Assoc
CP
Conagra
MTN
TransAm
04/27/98
5.380
15,000
3
6,725.00
5.457
04/27/98
5.380
50,000
3
22,416.67
5.457
04/27/98
5.380
50,000
3
22,416.67
5.457
04/27/98
5.380
50,000
3
22,416.67
5.457
04/27/98
5.620
47,500
14
103,813.89
5.710
6.960% 04/27/98
6.418
50,000
675
597,350.00
6.418
—14—
04/27/98 PURCHASE
CP
GECC
04/28/98
5.530
50,000
CP
GECC
04/28/98
5.530
50,000
CP
GECC
04/28/98
5.530
50,000
CP
GECC
04/28/98
5.530
50,000
CP
Household
05/04/98
5.550
50,000
CP
Household
05/04/98
5.550
50,000
CP
GE Co.
05/06/98
5.540
30,000
CP
GE Co.
05/06/98
5.540
50,000
CP
Conagra
05/20/98
5.650
22,500
CP
Enron
06/01/98
5.590
20,000
CP
Household
06/01 /98
5.530
50,000
CP
Household
06/01 /98
5.530
50,000
CP
Text Fin
06/10/98
5.670
23,500
04/28/98 REDEMPTION
BN
B/A
5.510%
04/28/98
5.510
50,000
68
420,388.89
5.586
BN
B/A
5.510%
04/28/98
5.510
50,000
68
420,388.89
5.586
CD
Wachovia
5.500%
04/28/98
5.500
50,000
64
488,888.89
5.576
CD
Wachovia
5.500%
04/28/98
5.500
50,000
64
488,888.89
5.576
CD
World
5.540%
04/28/98
5.470
50,000
5
38,085.72
5.560
CD
Bayer Lnds
5.505%
04/28/98
5.500
50,000
64
488,893.19
5.576
CD
Bayer Lnds
5.505%
04/28/98
5.500
25,000
64
244,446.60
5.576
CD
Bayer Lnds
5.520%
04/28/98
5.510
50,000
64
489,786.40
5.586
CD
Nova Scotia
5.500%
04/28/98
5.500
50,000
67
511,805.56
5.576
CD
Stnrd Ch
5.520%
04/28/98
5.510
50,000
67
512,745.56
5.586
CP
GECC
04/28/98
5.530
50,000
1
7,680.56
5.607
CP
GECC
04/28/98
5.530
50,000
1
7,680.56
5.607
CP
GECC
04/28/98
5.530
50,000
1
7,680.56
5.607
CP
GECC
04/28/98
5.530
50,000
1
7,680.56
5.607
CP
GECC
04/28/98
5.480
50,000
6
45,666.67
5.561
CP
GECC
04/28/98
5.480
50,000
6
45,666.67
5.561
CP
GECC
04/28/98
5.480
50,000
6
45,666.67
5.561
CP
GECC
04/28/98
5.480
50,000
6
45,666.67
5.561
CP
Salomon
04/28/98
5.500
50,000
6
45,833.33
5.581
CP
Salomon
04/28/98
5.500
50,000
6
45,833.33
5.581
CP
Merrill
04/28/98
5.470
37,000
67
376,670.28
5.603
CP
Merrill
04/28/98
5.470
50,000
67
509,013.89
5.603
CP
Bear
04/28/98
5.470
50,000
67
509,013.89
5.603
CP
Bear
04/28/98
5.470
50,000
67
509,013.89
5.603
CP
Bear
04/28/98
5.400
50,000
105
787,500.00
5.562
PURCHASE
CP
Conagra
05/12/98
5.640
20,000
CP
Comnwealth
06/08/98
5.720
10,000
CP
Hertz
08/20/98
5.540
45,000
—15—
04/29/98 NO REDEMPTIONS
PURCHASE
FHLMC
5.550%
04/29/99
5.700
17,000
FHLMC
5.550%
04/29/99
5.702
50,000
FHLMC
5.550%
04/29/99
5.702
50,000
MTN
FMCC
5.953%
03/21/01
5.687
9,500
BN
B/A
5.550%
06/01/98
5.550
50,000
BN
B/A
5.550%
06/01/98
5.550
50,000
CD
BN Paris
5.680%
10/28/98
5.670
50,000
CD
U/B Calif
5.710%
10/28/98
5.710
50,000
CP
Hertz
07/08/98
5.540
20,000
CP
Bear
07/13/98
5.540
50,000
CP
Bear
07/13/98
5.540
50,000
CP
Bear
07/14/98
5.540
50,000
CP
Bear
07/14/98
5.540
50,000
CP
GECC
09/28/98
5.510
30,000
CP
GECC
09/28/98
5.510
50,000
04/30/98 SALE g/
CD
Svenska
5.565%
04/30/98
5.555
50,000
52
401,200.20
5.632
CD
WestDeut
5.560%
04/30/98
5.555
50,000
52
401,197.32
5.632
REDEMPTION
Treas
Note
5.875%
04/30/98
6.015
50,000
706
5,812,330.16
6.025
Treas
Note
5.875%
04/30/98
6.007
50,000
702
5,772,588.32
6.017
Treas
Note
5.875%
04/30/98
6.005
50,000
730
5,996,000.00
6.005
Treas
Note
5.875%
04/30/96
6.005
50,000
730
5,996,000.00
6.005
PURCHASE
CD
CIBC
5.530%
06/01/98
5.530
50,000
CD
CIBC
5.530%
06/01/98
5.530
50,000
CD
Rabo
5.520%
06/01/98
5.520
50,000
CD
Rabo
5.520%
06/01/98
5.520
50,000
CD
Rabo
5.550%
08/27/98
5.550
50,000
CD
Rabo
5.550%
08/27/98
5.550
50,000
CP
GECC
05/01/98
5.530
50,000
CP
GECC
05/01/98
5.530
50,000
CP
GECC
05/01/98
5.530
50,000
CP
GECC
05/01/98
5.530
50,000
CP
Country
05/01/98
5.560
50,000
CP
Country
05/06/98
5.570
43,000
CP
Country
05/06/98
5.570
50,000
CP
Salomon
05/06/98
5.530
50,000
CP
Merrill
05/07/98
5.530
37,000
CP
Merrill
05/07/98
5.530
50,000
CP
Heller
05/27/98
5.750
50,000
—16—
04/30/98 PURCHASE
CID
Bear
08/05/98
5.540
50,000
CID
GMAC
08/27/98
5.500
50,000
CID
GMAC
08/27/98
5.500
50,000
CID
GMAC
08/27/98
5.500
50,000
CID
GMAC
08/27/98
5.500
50,000
CID
Bear
09/10/98
5.540
50,000
CID
Bear
09/10/98
5.540
50,000
CID
GECC
09/28/98
5.500
50,000
CID
GECC
09/28/98
5.500
50,000
RRP
Treas
Bill
03/04/99
5.355
50,000 52 (366,445.62) -5.429
Treas
Bill
03/04/99
5.355
50,000 52 (366,445.62) -5.429
—17—
a/ The abbreviations indicate the type of security purchased or sold;
i.e., (U.S.) Bills, Bonds, Notes, Debentures, Discount Notes,
and Participation Certificates: Federal National Mortgage Association
(FNMA), Farmers Home Administration Notes (FHA), Student Loan
Marketing Association (SLMA), Small Business Association (SBA),
Negotiable Certificates of Deposit (CD), Negotiable Certificates of
Deposit Floating Rate (CD FR), Export Import Notes (EXIM),
Bankers Acceptances (BA), Commercial Paper (CP), Government
National Mortgage Association (GNMA), Federal Home Loan Bank
Notes (FB LB), Federal Land Bank Bonds (FLB), Federal Home Loan
Mortgage Corporation Obligation (FHLMC PC) & (FHLMC GMC),
Federal Farm Credit Bank Bonds (FFCB), Federal Farm Credit Discount
Notes (FFC), Corporate Securities (CB), U.S. Ship Financing Bonds
(TITLE MIS), International Bank of Redevelopment (IBRD), Tennessee
Valley Authority (TVA) Medium Term Notes (MTN).
b/ Purchase or sale yield based on 360 day calculation for discount
obligations and Repurchase Agreements.
c/ Repurchase Agreement.
d/ Par amount of securites purchased, sold, or redeemed.
e/ Securities were purchased and sold as of the same date.
f/ Repurchase Agreement against Reverse Repurchase Agreement.
g/ Outright purchase against Reverse Repurchase Agreement.
h/ Security "SWAP" transactions.
i/ Buy back agreement.
RRS Reverse Repurchase Agreement.
RRP Termination of Reverse Repurchase Agreement.
—18—
NAME
ALHAMBRA
East West Bank
TIME DEPOSIT
DEPOSIT DATE
02/10/98
YIELD PAR
5.200
AMOUNT (1) MATURITY
35,000,000.00
DATE
05/12/98
East West Bank
03/19/98
5.130
12,000,000.00
06/18/98
East West Bank
04/09/98
5.090
35,000,000.00
07/09/98
East West Bank
04/17/98
5.130
15,000,000.00
07/17/98
BEVERLY HILLS
City National Bank
11/04/97
5.390
10,000,000.00
05/05/98
City National Bank
01/27/98
5.270
10,000,000.00
07/29/98
City National Bank
02/18/98
5.270
20,000,000.00
02/18/99
City National Bank
03/19/98
5.220
20,000,000.00
09/16/98
CHICO
North State National Bank
02/25/98
5.320
1,000,000.00
08/24/98
Tri Counties Bank
03/16/98
5.110
10,000,000.00
06/16/98
Tri Counties Bank
03/16/98
5.250
10,000,000.00
09/15/98
North State National Bank
03/11/98
5.260
500,000.00
09/09/98
Tri Counties Bank
04/22/98
5.100
10,000,000.00
07/23/98
North State National Bank
04/07/98
5.220
2,000,000.00
10/06/98
TO Counties Bank
04/16/98
5.230
10,000,000.00
10/15/98
FRESNO
Kings River State Bank
01 /15/98
5.190
1,000,000.00
07/15/98
G ENDA E
Glendale Federal Bank
03/31/98
5.280
3,000,000.00
06/29/98
Glendale Federal Bank
04/09/98
5.220
5,000,000.00
10/07/98
Glendale Federal Bank
04/17/98
5.320
100,000,000.00
10/15/98
INGLEWOOD
Imperial Bank
01 /29/98
5.290
5,000,000.00
05/06/98
Imperial Bank
02/03/98
5.290
10,000,000.00
05/06/98
Imperial Bank
02/05/98
5.290
20,000,000.00
05/08/98
Imperial Bank
02/11/98
5.310
20,000,000.00
08/11/98
Imperial Bank
03/11/98
5.290
25,000,000.00
09/09/98
Imperial Bank
03/19/98
5.250
11,000,000.00
09/16/98
Imperial Bank
03/31/98
5.250
36,000,000.00
10/01/98
Imperial Bank
04/21/98
5.070
25,000,000.00
07/21/98
—19—
NAME
LOS ANGELES
Community Bank
Community Bank
Preferred Bank
Preferred Bank
Preferred Bank
Preferred Bank
General Bank
Community Bank
Preferred Bank
Preferred Bank
Preferred Bank
General Bank
General Bank
General Bank
General Bank
Preferred Bank
Delta National Bank
Delta National Bank
POMONA
Pomona First Fed Bk & Trst
PETALUMA
Bank of Petaluma
SACRAMENTO
Sanwa Bank of California
Sanwa Bank of California
Union Bank of California
Union Bank of California
River City Bank
Sanwa Bank of California
River City Bank
Sanwa Bank of California
Union Bank of California
Union Bank of California
River City Bank
12/19/97
5.430
10,000,000.00
06/17/98
12/23/97
5.510
5,000,000.00
06/22/98
02/18/98
5.210
4,000,000.00
05/19/98
02/24/98
5.250
2,000,000.00
05/26/98
01 /05/98
5.190
3,000,000.00
07/15/98
01 /12/98
5.210
20,000,000.00
07/15/98
12/01 /97
5.480
28,000,000.00
11 /06/98
02/09/98
5.270
15,000,000.00
08/11 /98
03/19/98
5.110
4,000,000.00
06/18/98
03/24/98
5.210
9,000,000.00
06/23/98
03/17/98
5.110
5,000,000.00
06/28/98
03/06/98
5.200
15,000,000.00
06/18/98
03/30/98
5.240
10,000,000.00
07/08/98
03/31 /98
5.220
15,000,000.00
10/01 /98
04/13/98
5.090
25,000,000.00
07/14/98
04/01 /98
5.240
3,000,000.00
09/28/98
01 /22/98 5.240 2,000,000.00 07/22/98
04/24/98 5.090 1,000,000.00 07/23/98
11 /25/97 5.550 8,000,000.00 05/27/98
02/11 /98 5.280 1,000,000.00 08/11 /98
11 /05/97
5.390
7,000,000.00
05/06/98
01 /27/98
5.270
5,000,000.00
07/29/98
02/04/98
5.250
100,000,000.00
05/06/98
02/17/98
5.220
50,000,000.00
05/18/98
02/19/98
5.260
5,000,000.00
07/20/98
02/18/98
5.250
50,000,000.00
08/17/98
02/19/98
5.270
5,000,000.00
08/18/98
02/25/98
5.350
10,000,000.00
08/24/98
03/31/98
5.260
100,000,000.00
06/29/98
04/30/98
5.060
50,000,000.00
07/30/98
04/13/98
5.250
5,000,000.00
10/14/98
-20-
NAME
SAN DIEGO
San Diego First Bank
TIME DEPOSIT
DEPOSIT DATE
12/03/97
YIELD PAR
5.450
AMOUNT ($) MATURITY
-
1,500,000.00
DATE
06/02/98
San Diego First Bank
12/22/97
5.450
1,500,000.00
06/23/98
San Diego First Bank
03/19/98
5.160
14,000,000.00
06/17/98
SAN FRANCISCO
Bank of Canton California
12/04/97
5.420
5,000,000.00
06/04/98
Bank of Canton California
12/09/97
5.440
5,000,000.00
06/09/98
Bank of Canton California
12/01/97
5.500
5,000,000.00
12/01/98
Bank of Canton California
12/15/97
5.450
5,000,000.00
12/15/98
Bank of Canton California
01 /21 /98
5.230
5,000,000.00
01 /21 /99
Bank of Canton California
02/04/98
5.260
5,000,000.00
08/04/98
Bank of Canton California
02/11 /98
5.300
5,000,000.00
02/11 /99
Transpacific National Bank
03/17/98
5.450
800,000.00
09/16/98
Oceanic Bank
03/05/98
5.430
2,000,000.00
03/05/99
SAN LEANDRO
Bay Bank of Commerce
04/10/98
5.080
2,000,000.00
07/09/98
Bay Bank of Commerce
04/08/98
5.230
2,000,000.00
10/07/98
SAN LUIS OBISPO
First Bank of San Luis Obispo
02/11 /98
5.200
2,000,000.00
05/13/98
First Bank of San Luis Obispo
02/24/98
5.270
2,500,000.00
05/27/98
First Bank of San Luis Obispo
02/04/98
5.280
3,600,000.00
08/04/98
First Bank of San Luis Obispo
03/12/98
5.110
1,000,000.00
06/11/98
First Bank of San Luis Obispo
04/08/98
5.130
1,000,000.00
07/08/98
SAN RAFAEL
West America Bank
04/17/98
5.040
25,000,000.00
07/16/98
West America Bank
04/24/98
5.090
25,000,000.00
07/23/98
West America Bank
04/30/98
5.090
25,000,000.00
07/30/98
SAN MATEO
Borel Bank and Trust
03/16/98
5.180
95,000.00
06/30/98
SANTA ANA
Grand National Bank
12/31 /97
5.480
95,000.00
06/30/98
Grand National Bank
03/10/98
5.180
1,500,000.00
06/08/98
Grand National Bank
03/11 /98
5.250
1,500,000.00
09/08/98
—21—
11 � � •6 MI-1
SANTA CRUZ
Coast Commercial Bank 03/20/98
SHASTA
North Valley Bank 03/24/98
Oak Valley Community Bank
03/27/98
Oak Valley Community Bank
03/30/98
TORRANCE
China Trust Bank (USA)
03/11 /98
South Bay Bank
03/17/98
China Trust Bank (USA)
03/31 /98
China Trust Bank (USA)
04/30/98
TUSTIN
Sunwest Bank
03/31 /98
Sunwest Bank
04/21/98
Sunwest Bank
04/09/98
VACAVILLE
Continental Pacific Bank
03/04/98
VICTORVILLE
Citizens Business Bank
12/10/97
Citizens Business Bank
01 /09/98
Citizens Business Bank
01/22/98
Citizens Business Bank
02/11/98
Citizens Business Bank
02/11/98
Citizens Business Bank
03/11/98
WALNUT CREEK
Bank of the West
01 /30/98
Bank of the West
02/19/98
Bank of the West
02/18/98
Bank of the West
02/27/98
Bank of the West
04/01/98
Bank of the West
04/23/98
TOTAL TIME DEPOSITS AS OF APRIL 30,1998
5.190 15,000,000.00 06/19/98
5.280 3,000,000.00 09/22/98
5.250 500,000.00 06/25/98
5.280 500,000.00 06/29/98
5.180
10,000,000.00
06/09/98
5.180
2,000,000.00
06/16/98
5.280
5,000,000.00
06/29/98
5.100
15,000,000.00
07/30/98
5.220 500,000.00 10/01 /98
5.080 1,000,000.00 07/20/98
5.220 2,800,000.00 10/07/98
5.270 1,000,000.00 06/02/98
5.590
10,000,000.00
06/09/98
5.370
10,000,000.00
07/09/98
5.230
5,000,000.00
08/06/98
5.300
10,000,000.00
09/23/98
5.320
5,000,000.00
10/06/98
5.270
10, 000, 000.00
10/08/98
5.270
26,500,000.00
07/31 /98
5.250
18,000,000.00
08/19/98
5.250
19,000,000.00
08/19/98
5.310
27,000,000.00
08/26/98
5.200
14,000,000.00
10/01 /98
5.260
25,000,000.00
10/20/98
$1,416,390,000.00
—22—
h
DEMAND BANK DEPOSITS
(000 omitted)
DAILY BALANCES
WARRANTS
APRIL
PER BANKS
OUTSTANDING
1.
$6279594
196789856
2.
4329674
197619771
3.
441,428
195379794
4.
4419428
195379794
5.
4419428
115379794
6.
4039815
192399524
7.
4139706
191479,506
8.
2799727
190859582
9.
4139111
196829592
10.
5499405
196409,520
11.
5499405
196409520
12.
5499405
196409520
13.
2849675
192189030
14.
5109021
190539235
15.
2969496
195549968
16.
4949138
194749935
17.
5989793
194459551
18.
5989793
194459551
19.
5989793
194459551
20.
1 J 059048
191549633
21.
8589665
190869,629
22.
5509,581
8619,868
23.
6369909
190949407
24.
6839074
9759603
25.
6839074
9759603
26.
6839074
9759603
27.
2609317
7979,147
28.
3279,895
7179,184
29.
2399166
5939571
30.
4659915
7199937
al
AVERAGE DOLLAR DAYS $5139952
a/ The prescribed bank balance for April was $403,373.00. This consisted of
$132,837.00 in compensating balances for services, $270,536.00 uncollected
funds and a deduction of $14,275.00 for March delayed deposit credit.
*M
DESIGNATION BY POOLED MONEY INVESTMENT BOARD
OF TREASURY POOLED MONEY INVESTMENTS AND DEPOSITS
No. 1586
In accordance with sections 16480 through 16480.8 of the Government Code, the Pooled Money Investment Board, at its
meeting on April 15, 1998, has determined and designated the amount of money available for deposit and investment
under said sections. In accordance with sections 16480.1 and 16480.2 of the Government Code, it is the intent that the
money available for deposit or investment be deposited in bank accounts and savings and loan associations or invested in
securities in such a manner so as to realize the maximum return consistent with safe and prudent treasury management,
and the Board does hereby designate the amount of money available for deposit in bank accounts, savings and loan associ-
ations, and for investment in securities and the type of such deposits and investments as follows:
1. In accordance with law, for deposit in demand
bank accounts as Compensating Balance for Services $187,138,000
The active noninterest-bearing bank accounts designation constitutes a calendar -month average balance. For purposes
of computing the compensating balances, the Treasurer shall exclude from the daily balances any amounts contained therein
as a result of nondelivery of securities purchased for "cash" for the Pooled Money Investment Account and shall adjust for
any deposits not credited by the bank as of the date of deposit. The balances in such accounts may fall below the above
amount provided that the balances computed by dividing the sum of daily balances of that calendar month by the number
of days in the calendar month reasonably approximates that amount. The balances may exceed this amount during heavy
collection periods or in anticipation of large impending warrant presentations to the Treasury, but the balances are to be
maintained in such a manner as to realize the maximum return consistent with safe and prudent treasury management.
2. In accordance with law, for investment in securities authorized by section 16430, Government Code, or in term interest -
bearing deposits in banks and savings and loan associations as follows:
From
(1) 04/13/98
(2) 04/20/98
(3) 04/27/98
(4) 05/04/98
(5) 05/11 /98
(6) 05/18/98
(7) 05/25/98
(8) 06/01/98
(9) 06/08/98
(10) .06/15/98
To Transactions
04/17/98
04/24/98
05/01 /98
05/08/98
05/15/98
05/22/98
05/29/98
06/05/98
06/12/98
06/19/98
2,025,300,000
2,676,300,000
547,800,000
161,600,000
587,500,000
876,000,000
(738,600,000)
(484,400,000)
84,400,000
2,428,800,000
Time Deposits in
various Financial
Institutions
In Securities
(sections 16503a
(section 16430)*
and 16602)*
$ 26,055,910,000
$
1,326,390,000
$ 28,732,210,000
$
1,326,390,000
$ 29,280,010,000
$
1,326,390,000
$ 29,441,610,000
$
1,326,390,000
$ 30,029,110,000
$
1,326,390,000
$ 30,905,110,000
$
1,326,390,000
$ 30,166,510,000
$
1,326,390,000
$ 29,682,110,000
$
1,326,390,000
$ 29,766,510,000
$
1,326,390,000
$ 32,195,310,000
$
1,326,390,000
Estimated
Total
$ 27,382,300,000
$ 30,058,600,000
$ 30,606,400,000
$ 30,768,000,000
$ 31,355,500,000
$ 32,231,500,000
$ 31,492,900,000
$ 31,008,500,000
$ 31,092,900,000
$ 33,521,700,000
From any of the amounts specifically designated above, not more than 30 percent in the aggregate may be invested in
prime commercial paper under section 16430(e), Government Code.
Additional amounts available in treasury trust account and in the Treasury from time to time, in excess of the
amounts and for the same types of investments as specifically designated above.
Provided, that the availability of the amounts shown under paragraph 2 is subject to reduction in the amount by
which the bank accounts under paragraph 1 would otherwise be reduced below the calendar month average balance
of $187,138,000.
Dated: April 15, 1998
*Government Code
Member
-24-