1998 11 18 IABT e 0
4hf 4 4 a"
78-495 CALLE TAMPICO - LA GUINTA, CALIFORNIA 92253 - (760) 777-7000
TDD (760) 777-1227
AGENDA
INVESTMENT ADVISORY BOARD
Study Session Room
78-495 Calle Tampico- La Quinta, CA 92253
November 18, 1998 - 5:30 P.M.
I CALL TO ORDER
a. Pledge of Allegiance
b. Roll Call
11 PUBLIC COMMENT - (This is the time set aside for public comment on any matter not scheduled on the agenda.)
III CONFIRMATION OF AGENDA
IV CONSENT CALENDAR
A. Approval of Minutes of Meeting on October 14, 1998 for the Investment
Advisory Board.
V BUSINESS SESSION
A. Transmittal of Treasury Report for September, 1998
VI CORRESPONDENCE AND WRITTEN MATERIAL
A. Month End Cash Report - October, 1998
B. Pooled Money Investment Board Reports - August, 1998
C. Year 2000 Letter and Backup Recovery Center
D. Fiscal Year 97/98 Legislative Update
VII BOARD MEMBER ITEMS
VIII ADJOURNMENT
z,.
MAILING ADDRESS — P.O. BOX 1504 — LA QUINTA, CALIFORNIA 92253
INVESTMENT ADVISORY BOARD Business Session: A
Meeting Date: November 18, 1998
ITEM TITLE:
Transmittal of Treasury Report
for September 30, 1998
BACKGROUND:
Attached please find the Treasury Report for September 30, 1998.
RECOMMENDATION:
Review, Receive and File the Treasury Report for September 30, 1998.
M L4
hn M. Falconer, Finance Director
Z
0
F
U_
tL
N
W
0
z
Q
Z H
cy CW
ar 2
U
LL LU
r� Z
F 0
U W
N
rx
O
F
Q
E
E
x
m
E
w
O
N
7
N
N
C
E
N
c
0 0
m
m
a
w
c w
o E
m
a> >
w � N
cvi N
N
O)
0
C
O_
0
v •n
0
m
a�
a
— U
'3 c
f0
N d
7 E
m0
c
U �
4 L
L 0
f- n
-a
3
O
E
7
E
m
E
a�
t
c
m
w
to
N
a
7
E
m
N
7
ft1
E
Q
N
C
O
)
0�
Z
a
o
0
Z
0 0
Z Z
C
c
ZW
o
O
7.
o
On
CCCZ>
O
O
oo7
a �
W
W
a
¢
�
�
°
O
o
C
0_
IcmC_'OOmn)
U)
>C
10
O)
>,
0)"0
CU
Cm
LO
yL
m
'O
m
N
VC
O
N
N
N
1
V
II
>,
N
OVV
IIV
O
C
VCO
>Uo_0LcC
��CC�U•i-
y
Ocu
yM 0)C
U
t(a
0
Qacc>
CL
>
0NUL
IL
0
>C
N
o
N
CLa
ON0
OL
nN 0
"). > W
0
0m
0y� =
Cop N
'V
00.LZ
oLm0
O
mLv
v
B
zo 0.
L
W
�
O C
fl. �
7 L
Cn O
C
ONO
co
co
o
0
O
O
co
0
0
U)
m
M
0
0
C(j
0
C)N
0
0
a)Q
^
Z
a\o
O
o
O
O
o
^
M
o
00
O
0
rn
0)O)
U
ao
U
o
N
o
00
O
rn
v
N
aD
N
7
Q•Eo:l3 mmx i
o
0�0
t00
0
0
n
Q
Z
0
^
0
M
0
M
\
N
y 0
C C
�0
>
O
o
°°
o
f�
O
OOCM
o
0
cLn Oo'w
o
�
O
0
M
0
EST
cli
Z
O
O
O
N o
� �
j !0
�
�
N
o
00
0
N00
0cli0
a,
Go
H
E
5
7 E
X X
_� N
Q �
o
coh
0
COO
0
n
Q
Z
0
\
O
M
o
Cl)
o
0
CD
ts
U
v
>,
2
c
L
U ;
C O
O-
C
N L0
E
�p mU
U�
moo
cw0
y
m
m
EV Z m
J
E
h M
�c>
L
o
N
>C C�l=vL y�
%jC>
y
C
'O
OOtn �LvN C
16
yUN
m
m
0
N� OS. 0 O O
>,O 7
O
p7
U
y
C
'Qy0 w m 0
m
00>
0
o
m
0
E
w
m
m 62< a w mY O
'D01- tm0 wmLUL m 0
�
dn."
lOhO
C
0
0
o
c�'C mQ 0LLLLm 01
'0
rntm
C
0
L
Z
m00 0, Z•-�c m
u) E'0 0� Y rn Y 'O cm
c
7
m
y 3 C
o
0
'o
3
ui
a
.c
ry��.o,m c m �' o L
L
m ommm m� 0.
"'
CCC
`o
N
m
_
vJ
O
U
=•NE
0"0 OM mY'C m N m
Cn H c :� CL
aci
E
.'mac
NOW
)
C
01
C
a�
�'
aai
N
O O
C .-. — O
N
�Qm'�o m �—�mU m m
fA
a)
C
7 y E
�!��,
EEC
E
y
o
>
m
U
Z,
EEO c E c€ o E N
E
16
Q
C
N
U)
CCU EZ2-ILL CS
C
i00
U OD
wO
O— Lo
>
Ec
E
0
L
ULIE
LLiL
_
LLN�LLLLL
Nx�
m
H
J
2WQ
c0Q
16
H
w w
E E
N N
c c
02
W a
C
d _
Q y
me c
N
W v E .0
c= o r
Cm W �CD V
6 E c U
UtAU°f
O
-6-6t
O O
O
t15
}rr
�
i
0
i`co`o`o`p
W
-6y
=ZZozzz
o`o
Y Y
m m
Y
Q)
WAt
m
id
m
0
opp 0
7 0 0
0
0
V
epp
7 0
o
0
}�
CMh
t0 u) Invj
V
}
"'t%t0
�O)
0
C
O co
y
tp
Q 'C
T
cc
W
Q
C�MaD-W
0)
O
. C
•C
W ONi
m�
O
001
OC
r0
O) 0) CD
q W
-E.0
0 tp
O)
�.
O)
W
�tOpp)
0 0
0
m
W 0M
Q 2
O
0[O
C
W
E
W
¢¢11
30 0
C
EO)O)O)
d ttpp
t0+) 00
N
Oa4
p M O)
C
O
Q O O
U)
000
m
M
O
�0Lo
O
Cl N
0
7
LL
U)
N
ID 0co 01
O O
O
N 'O
E
O O
w
� 2
pp
0 0 0
0
pp
0Q 0
W 01
N c c
0.3
CT
C)
04LOM�
° >}^{
$�
`'MN
WU��
0aa
LL
Q
O O
CO O
M C) C
W O)O O O) W
m0 O) �Op Qom.
to
O)O� 0N
�
CoW W
02
co
M�
-
j�.0..�
W W
y O
p
am
N
N N
CO
7lfj Opwn
O��
N dN00�
A ip
t00 O)
co
ACD )O
n
�
N W
A
O)A�
P)t°
OR
�Q
QO
M>
- n
M
>
o rn I
N'di N�
p)
NA
i>
AO�
o o"
hM
0
>
2 2
•�
M co
y
N y
JR
O
N EZZZ
n^NEC72
QC UJW
CUJd
yZZZ
QQ QQ
QQ
Cv
r M
ANtpV 00
tO0
NU
'0
Nh00
O)A
Ld
NWy
QQ QQ
Z Z
Q
Q
co 0c
Q C�C
M A
a
Y�fQQ
O
0
m
NN
`�' OOI�
N
—7O
�-���
w
O
N
N
E>ON
Q
NMN
N �O
V
O �C)
M
N
N WOO)
C O
W
>OOi
00o r�
Mp00
00
0t0
m0
�r
mco
co t�pp
c)Of
OD r,
NVNO
A44
��O)
d 4)
N
0
0
O O
W V
�CL
t0
0 0 0
0 0 )O
MM
t0 O
V
0)
Via.
t°
0 0
oOo 10
OR
W)
)
C�
—
O o
p)
t0 t0
N to
Y
C
Y
C
Y
C
C
Q Q
�'-�
^•-
LLW'�
WZZ
y
�
Y Y
C
y W W
y M CO
22
m
O O
ZZ
N
~
C
Q V
O Z L
CDm
C .�
7 Z
J 3.0)
N N
O O
.
?
h N
W W
>
O O
0-0.
2y m
paU
a
W==_
U
H
NN
N
LL
N 7
)
>
>
U
LL LL
y
O
Z Z}
y
_
' ow
N
y
7
N
O
j
ewe
=EE
�
cE�
W Q>
q
O
w W
c -EEEd
3� N
dWQQQ--
N
y
A)
L O
Ma amj
N N f4
«__EE
pa
Z
c
N
W O
c
N 7
y
Q W
LL
a
j
C 'cc
�,=EEO
a
'0
m m a°
QrnLO'c
Ea}}}E
=¢}}uj
aE
c>
W
to
m E
W N=m
LL U°
y
E m 3
>v z
p p
3 3 0
z z U
�'
F«
�_ 3
d
Z
3D
u
Z_
�QU�t4
a E
W=
Z
Ww
a) m LL
a W
O c�016
F V)
,00
O YYY
U C
7
C C
yo`Ow
Y
Y �-°
°
�MLL
Q Z
p
F
MMM
J
c
yc
c
N
LL
C
E
C
Q
LL.
03
C)
QLZZZZZ
x
W
c�
O 0o
rno
pZ� bZZ
T- M
O
�
=
O O
000
00
O
0
.i6400
O
CL
U-) 0
cn
O
>,
+
_C
> --- n
O O O O
�-
O
O
CLILL
(A O O O C
W O
+-
rn a) a) a)CU
Q
C O
v,
�(ncncn
N
U
�
..0
U
m
C
ii
cn-0
m
V
+_- U
U)
U C
m
Q
N
L
a
Earna)
O N E
C
ccoo
a
m
U' O >M
c oeS}'!—Q
C
�
Jm�
�
�UU�U-c
E
,E >,Q
O E
aZU
OLLLLLL
-
52I-
U(n0co
J
C N
p
Q
(' J
0 0 0 0 0 0 0 0
0
y
�
0o 0o 00 0o 0o co
rn rn rn rn rn rn
Q������
,00 CV MOOQ
p
Z r- N O O O O Z
m 0) m m
O O O O O O
M
M O O O O O O ti
ti
�-0000ooOLo
'Z3�OO0000
W
C
'i
CO 0 0 0 0 0 0 pOp
N
ad'NMr-N
00 0 0 ui m Ln 0 M
ON
0�
44
co
O
cn
O 0 0 0 0 0 6-0
O
0.060-13-0-0-a.a.,_
(� 0 0 0 0 ) 0
tmwowwww—
C N N N N (C tQ O
cn cn CO cn CO cn
N
U
'a
O
N
�
O
Co
m
C
a�
y. n
0Q C
E
Es
E
LL
C
O
� LL
0 E
L.L. L1. LL LL u
r' O
LO O ti CD
O O
r- O CD C
C � M mt 0 � � �
�O
co
CD
CO
'e
4a
C
O
N N C
N O
N U
B
cn
m � V
E
O
.�
CD E N
c -co cn cv
O O N m
a
a (n
NO
C C a) W
�E L
O
E
V
a,'L2NEO
O Cl) O
Q
�a.a.
°iQ2
A in
M
(0
N
m
06 �
M 41
4) E
E
(D=
C od
06
�0
�p M U
cV w
3 O 6 O
M C
V' C O
J .0 7
E a
o ._ 0
>' N N M
U 0 (n 0
N(O�m'TNCN
(0
Mco m
MrNMC
O O
P.
M
N O
CD MN N
��apLO
_ _
0P-: CA(D0
w
O
njca
� OMO(00 �
cr CA r O N Cn 0 M
U>
44
(m
Q
vvoo(o
N ac r
N
(D00NO
UN
a)
!�co-
co r
to
r
p
O� (DO
`
LL
r r
Go
cc
2
CO
_O
U r
�
O
Cn v (D
�
C
M
�
p LL �
C
C>
C
LL
C
C LL
a)M
C N C C
3 (D3
LL_ E
c 8
-
C 3 3 U L 3
3 LL LL (6 0)LL
Q
•+
a) C
E C
O
C
U
CIL-04).G 3 C
N
>LL (3
M CALL
3 C C NQ'ciS
3 LL w 3 w C 3 0 CU cn
N
E
tl
2 O N
Q "O
.Z
(D
a Q
— x T a LL d
-
E- m 15 p_M°�+'
.m.
O
>
E Z 0-
c L3L
aa- - V aa)
(ocn�r
5
U(�C�Ud—i—UWJH
N (C p 3 C =_ C m a CCs (n
N
(lS N p
C `O
N
U0J
LLLLON
F-
C
D N OD
N Ct jco
0 OLMa)(B
av
Cn
O
D co
r M r
C,
V CVa0—co
O
a
�(nLnv_ v
Q
CD
(A
Q M Cri r O
Q N r O Cn Cn
r N O Cl) r
� r 00 Ln
L
_ M
U') co
L N 4 O r (D
O
'
fA ti ap f�
f0
�t.
OCN vP-N Ma
.(D
69
mL ;rmMOLou
O M
LL
N 0) u)
LL CNt!) 00 ac r
to
co
O
O �() �t co CO CO 0 CLCf
ac '�t O r (M Cn
7
C
�
:3 "t O C(� (D N CC
CCn�DOjDOjcoNcr
N
r
7 r er- N M Cif.
ff.
N
a� CD LO '' (D M d
r M O 00 a0 C\
E
O
CO
Er`Dr�v OC\
69
N N O Ln C
h
r O M M
6o Crj M 0
EA
O
E
-0 (0 MOO r LA
co N LO
>
O
M
> M O 0)O M O
Z
Z� �'o acr
r r M m
O
p
�oOCn�� Mn
0 (D0O MCa
Lr
Lo
r-
Cr6c
co
NIT
00 O r co
OaNti��
-Oar
(0O
Hzi—O
tD �t N 0 a0
� a0
'OV
NMM
QO'D
O��
V�
tCli
�Md9 (A
co
CO -NN `-0
M N ac CA M O
3CACOMM CAr
LO
OOr�O �tN
iA LA 0 p) ao co M
'�7�
> �t O co O r
QV�(6 N�
r
3cc)
m (fl N O r O
QNTd00� 0
b9 O tD N ao
�
Cfl C!) "' C In Cl)
r ti9
N C) O Cn
�rrMap
O�
Mac (Dr
O
Cj
COM CA
O0) N
MM
O
>, r (D C') M O LC) Co
3 C(» O
r
>, r IT O CA
7 N co 0
COA ap
(D
� aN--•
a00 (D tND
M N v r
E,q Cn Or N M
M
a)
M
M
a)
a)
M 'C a)a D 3 a
w Z ma
) ? ma
C _NU to
C MCn—
cc
N
m a)E
m N .V
(�
R
m Z+E(D
> N` E C
in Z,ENM
N 3` E U
CO
C 0 N> O
c 0 > O 3
m
L?
o2SLL��U CU
o a) LL
o�LL oU
U I-U(n��d�H
f-Ucn»a2E_-
05
N N N N o o e
L m O Lx G) l a) m ' m M 7 y N N o\' 7 y °\ O
7} 0 OD 7} ao �} co M 3} v :3 N 3} �} m 0 c
fV O nGo
N N fD f0 m (p C� CG C
M _
eo
j c
LL Ti LL LL D LL 7 °° LL 7
Q Q O Q Q n Q a N Q Q N f0 fop Q a m LL
_ t I O
QQ t0 Qa N M O
O O N N
U)
EO O O O m 7 7 O N N N O
Zooo.- �Zooo� eZ���� EL00o0 o Ei°0000 0000 ' o 0
' v`' v ' ' 7 fig �Z fA �z696%69 ��6N
Z69.40 40
o h
fri u� n
ro
co
aLO Q Q Q � O m Q 6 Q � ¢ c
h
' O L O LO LO 7 7 CD 7 N 7 fD
lZ�800 �Zoo69 �zGo49�� �z°wow o o L
0000 3°000 000000 0 to
us 3 z fA 49 rA Z f9 fn fA to to us o
N Iclo
�
N N N N COD �� N NN N �v V N (V CO m a 0 m n O O
m ? NOm-t 7 e-ONM 7 OM f� M y Of f�aOO N �j00) N n p�MnN
�mt9O�O E'mMO� e-m l� V O� yri�� O 7 NC0000O ' Nmnn ' NGOD �(O YiOM
0} oim 7}moa' }Nston E rnGOM o e moui o Eimm`''o �-- E; on: M of m
co nn mo°' ' mm000 7}CO NMO m 0000 } n n v o O
7M� �NM �b09 H�OtA N N co LQ C70�0 w mm00 Cq I}aCi coGo O
fA 44 fH f9 bN9 6N9 Za fA
Q Q V O :O 4i 1f1 tD
a Q co i0 Q our ° o •v o 0
� Q Q to
N cp
m N g N c0 �p p OD
' N O N O m o 7 y O N M 7 y f O O D Cl) LO
N co 3 m n M 0 7 N V m M Go N O
�sp'n �mMo`* e m�vo� mGo c8i N �Nouoio a Nm p mco�LO' M
�} m0 7}mom }NaOn maD m m o m aio of
nn mom mm aD 7}aDM�n a }ooaro > CS } n G`ro o m co
m O m 7
f9 � M n OfA N N C6 wi � fH � (n fA N Cq L
fH fH fH
O
7Y
mY
Go
O mN O mn �n=m
.0
01
c�
Cl)
�ONO�0 ,W O 8 81pp n O to mMm
�Om ;n GOOLO Cid>^� OcIODmO>OLnt q nM Co Lf) >p(�s
i r )QMCH��C N M9 C0 9 NNmmn"-
LO
64
C'c C
O O m N 'o m 0
OZZ maQ OQ
CD C0m °°Z Z mJ C CCa�� m�co7 m
y o� LL
aT�Z NN mmm >m m N N �0��=t j mm C
U E m m m 3Z E E E E E
F F = G6aQaQQ
_ N,= U)U) O pgO
H N O� N�
) ��� 0
LL LL
N y
O O y = N N N N N N N 7 N
�zZ} 7}}}}}}}}}}}} 7m m m mm
7 }>-}>-}
1� c c y c c c c c c v c c c c c c°
ID
c v�EN mm mmm m Y3 « mmc « mm mmmmc aci
m c c m - E E c._ E E E vv P! E e c E E m c E E N E m
amm7 mmm7 c cc c m m_mmE m wwm -0 mEEEEC E
a ca 4Ei m Z N00 O G4i m000 m p N E�00m a �a00 > >=�O�Op 3 N
of m m` 10 m` N m m iL C 0 y �_ m N O LL Y LL >
C m •y a m> •L F C> 'L N- 0 0 m > m Y N > m Y Y m f0 _ c Y Y Y •y l0 C m
H m> m > aD c Qmmc. ammF >mmmmm c H
> O 7 Y d Q 0 o m a o 0 0 > m c c c> Y m m c c c C
,d as E,y o c}}cn E c}}}tn cQain c t °°°°mvi mmai 'Q mmmm
L y m m?m m �� E m 3 3 3j T V0 N c - r 6C6 j� - cU)ln mU)U)U)f/j� cx c
0 m LLU o m:o m m m o m �_ % m m �» 10�>? m
A may jOzz� a°zzZ� r.-E m V U a ocaa� 00 oGmi=»>>m a
Z m m« N o o� N o`o`o' omLLLL o �. a m oQQ p N maQQQ o 1O U
> m LL O O Y Y O 7 O a Z__ M A y 0 O LL O y 0 0 .. C 0 0 0 O
>LL yH F- YYY F- U 3mm 7�d' O 2 m 0� N
U c c U c c c g O u @~~ LO OD f- 0 X m m m
3 mm m m m
o ~ o LL aUrnm� aUrnm a �vu•,ro�v> m
> rn m rn m c
U� H
v m v
IT'n `�� ro
O O
O fA
a m m
N c m
3 C N
LL c C
7 LL O
V
Q
N
T N
m
N
LL
a LL g
LL
o m ' k
c c O E 3
y
�md a tq 0U)
J =-GO O C `O O
O o Q Z H e O C
m InNfH N
UmUo m -i 42 -j om
D
Cad >+
c
d Q
J O 0
LL
o co
L CA
U C) LL
M M00000OM CY)OTMTQOjr
co(nOOM
f`
M
O�
S
LOCO
OOV
N
00 O
CA
O
~
c�N�N
M Cnet�tCO'et
ItC)0)�•
�ccooC0MMM0
'M
co O
- .0
M
co
O
N
le COe-e-
�N N�(pCO�N
.~. .�i
co
M
N
0)
a
�+
N
M 0000
Ct �O--N
ON��MN�-
O
f•
mMG
L
OOCOCO
le COOooMN
p
C�
O
LL
M TMTCAT
NN►-U*)
M•--1-ONT
v
c
p
�t
Cl)
a
�_�
W)
� �0C0O0)CNN
coN
cm
O
-000
ONLo V
-
�Nti
CON000MT
TN,00�
NN1-a)�CA
V
N
LL
T
(7TI,-ON
�
C14
N
a
d
N N O
.-OC)
f•
- �OP,f�MCM
M
N
e•
M
fd
v�
fl.
�co
O0)CMO)
pNo00�Me-
ao
fA
00O0d'
I�M�O
MOti
V- NNr-
O
O
Do
M e- 1 000V-
O
LL
Cl)
T
O� T co
CO
C-
T
'eF
Cy
w
Y')
CA
O M
00
M
N
ti
mCO>
d04C
vO0)0M
qOCOI,M
C) U) 00000
MOTp1,N
M
N
CD
O N 0 0
M O M
00 00
ON1
O
CA
N
LL
T N
N
.r
M
N
d
+r
N
N
0) O
c0 O CO
O O N
� O M CC)
O T t- N O
CO)
^
N
LO
O
l
N.
M
v�
N O� Vt
O CO•"ONON
M
M
00
Os
`TC
O O
COOMM
00000��
N
G
N
LL
le
TT00C7>
�•-(O�
N
N
T
N
v
a
y0
c
0000I-0
MU.)1`
f�
ti
N
Go
fD
m�W
0 O
T 0 0
O 0
OOMOC")
C� Cp 0
O r M
MCf)�00%--
N
ccO
0
t0
N
o
�OOrr
CM�NO
T
O
Go
O
C-CO
Go
et
LL
e-
N
T
T
CY)
M
0 O
M
00CMOCo
0 0
�f) c0 M It
OCOCDTOM
O 0
t0
— O
T N
O tD
Oa
7
OC) P-
TC6
CD c0 1� CO
�0)CO�stN
N
f` O
O
M
0co�
QOCM
a)N
CONd 00000
OI-�CDr�
O
CA I
O tf)
O
Re
O O
CO CO N
ti
O
e- .- M
T
N
c
d
2
3
y
d
O
�
L
H
N
c
d
�+
C
d co
v
E x
+y C
r
a)
�
d
m
C U
N�
m
C
y
J
K
C L
m
m
X
= N
(U
c� =�
N m
V
V
U N
C
c -
U .O U a
H
N
3 N
c
•Clf
_
� . , X U N
N LL .O U
7 � cL (D
o Z
Q. c
d
V
m
c
5
cm>d
NH
c
_.
v a� uXi° mLj
d
�
ai
c
Q'���m
m�a>i�;ccn
CL
c 5
U
m
a�cn0l
wu)WOU
Z
U W
Z
O �
a
m �
� m
O U
a
E
O O
U
N •C
c c
tm
f� U
c m
Q U
N
O O
W to a-
N 0 7
U c=
M m
c U
CD Z N
c N
co U
U a
C c
o > o.
m
2 Of
07
CITY OF LA QUINTA
BALANCE SHEET 09/30/98
CITY
ASSETS:
POOLED CASH
1,991,759.25
LQRP INVESTMENT IN POOLED CASH
INVESTMENT T-BILL/NOTES & OTHER
18,000,000.00
LQRP CASH
BOND REDEMPTION CASH
BOND RESERVE CASH
BOND PROJECT CASH
BOND ESCROW CASH
PETTY CASH
1,000.00
CASH & INVESTMENT TOTAL
19,992,759.25
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
PREMIUM/DISCOUNT ON INVESTMENT
LQRP-ACCOUNTS RECEIVABLE
INTEREST RECEIVABLE
LOAN/NOTES RECEIVABLE
DUE FROM OTHER AGENCIES
DUE FROM OTHER GOVERNMENTS
DUE FROM OTHER FUNDS
DUE FROM RDA
INTEREST ADVANCE -DUE FROM RDA
NSF CHECKS RECEIVABLE
ACCRUED REVENUE
TRAVELADVANCES
EMPLOYEE ADVANCES
PREPAID EXPENSES
RECEIVABLE TOTAL
57,406.02
(134,579.38)
(9,765.62)
14,499.19
(72,996.28)
6,890,277.20
2,242,550.40
1,484.94
5,360.00
3,491.00
CITY CITY RDA
RDA FA
FIXED LONG TERM FIXED
LONG TERM FINANCING LONG TERM
GRAND
ASSETS DEBT RDA ASSETS
DEBT AUTHORITY DEBT
TOTAL
6,963,918.98
(375.08)
8,955,303.15
530,000.00
530,000.00
79,591.50
18,000,000.00
2,728.60
467,175.00
79,591.50
469,903.60
16,076,700.87
601,722.44
16,678,423.31
23,652,939.95
1,000.00
1,068,522.36 44,714,221.56
(0.15)
(0.15)
81,257.68
8,505,000.00 8,643,663.70
(33,240.02)
(5,962.14) (173,781.54)
25,832.07
. 07
142,955.80
,
133190.18,
2,528,967.76
2,543,46666.95
551,038.04 478,041.76
6,890,277.20
2,242,550.40
34,625.54 1,484.94
34,625.54
5,360.00
3,331,436.87
8,499,037.86 20,828,202.20
WORKER COMPENSATION DEPOSIT
37,637.00
RENT DEPOSITS
37,637.00
UTILITY DEPOSITS
75.00
MISC. DEPOSITS
2,100.00
75.00
DEPOSITS TOTAL
39,812.00
2,100.00
39,812.00
GENERAL FIXED ASSETS
1,098,865.00 15,008,708.00
11,438,745.05
ACCUMULATED DEPRECIATION
(526,870.96)
27,546,318.05
AMOUNT AVAILABLE TO RETIRE LIT DEBT
(546,318.05
96
AMOUNT TO BE PROVIDED FOR L!T DEBT
3,395,117.03
3(526,870.03
TOTAL OTHER ASSETS
__
571,994.04 15,008,708.00
1,844,941.22 97,804,428.68
1,844,941.22 11,438,745.05 101,199,545.71
8,505,000.00 108,154,369.90
8,505,000.00 138,568,934.02
TOTAL ASSETS
29,602,292.76 15 008 708.00
1,844,941.22 26 984 376.67 11 438 745.05 101 199 545.71
9,567,560.22 8,505,000.00 204 151 169.63
LIABILITY
ACCOUNTS PAYABLE
99,129.10
22,139.53
DUE TO OTHER AGENCIES
56,201.04
121,268.63
DUE TO OTHER FUNDS
7,100.12
435,835.04
56,201.04
INTEREST ADVANCE -DUE TO CITY
35,106.60 478,041.76
ACCRUED EXPENSES
PAYROLL LIABILITIES
604.06
STRONG MOTION INSTRUMENTS
7,127.32
604.06
FRINGE TOED LIZARD FEES
17,430.00
7,127.32
SUSPENSE
17,430.00
DUE TO THE CITY OF LA QUINTA
PAYABLES TOTAL
187,591.64
22,139.53 435,835.04
35,106.60 680,672.81
ENGINEERING TRUST DEPOSITS
58,224.09
SO. COAST AIR QUALITY DEPOSITS
58,224.09
ARTS IN PUBLIC PLACES DEPOSITS
319,078.42
LQRP DEPOSITS
15,157.00
319,078.42
DEVELOPER DEPOSITS
614,713.03
15,157.00
MISC. DEPOSITS
215,019.16
614,713.03
AGENCY FUND DEPOSITS
821,086.07
215,019.16
TOTAL DEPOSITS
2,028,120.77
15,157.00
__ _ 821,086,072,043,277.77
DEFERRED REVENUE
14,229.79
OTHER LIABILITIES TOTAL
14,229.79
8,505,000.00 8,519,229.79
8,505,000.00 8,519,229.79
COMPENSATED ABSENCES PAYABLE
313,619.81
DUE TO THE CITY OF LA QUINTA
1,509,181.88
9,132,828.81
31331381
19 ,6.81
DUE TO COUNTY OF RIVERSIDE
10,642,010.69
DUE TO C.V. UNIFIED SCHOOL DIST.
12,601,591.90
12,601,591.90
DUE TO DESERT SANDS SCHOOL DIST.
12,601,591.90
12,601,591.90
BONDS PAYABLE
TOTAL LONG TERM DEBT
1,822,801.69
68,775,000.00
8,505,000.00 77,280,000.00
101,199,545.71
8,505,000.00 111,527,347.40
TOTAL LIABILITY
2,229,942.20
1,844,941.22 450,992.04
101,199,545.71
8,540,106.60 8,505,000.00 122,770,527.77
EQUITY -FUND BALANCE
TOTAL LIABILITY & EQUITY
27,372,350.56 15,008,708.00 26,533,384.63 11,438,745.05 1,027,453.62 81,380,641.86
29 602 292.76 15 008 708.00 1,844,941.22 26 984 376.67 11 438 745.05 101 199 545.71 9,567,560.22 8,505,000.00 204 151 169.63
INVESTMENT ADVISORY BOARD
Meeting Date: November 18, 1998
TITLE:
Month End Cash Report - October 1998
BACKGROUND:
Correspondence &
Written Material A
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.
�hn M. Falconer, Finance Director
a)
0
C
0
0
LL
m
m
C)
0
C1
m
L N
C CU (�
0 U
M c cM
0 yL,
C 0
.-�. O U
U2O
O p
Op
M O
O
N
f�ONCAOfQM
N
LOC:)
Mtn
O
� ��ttf)(A
FCNO
p00
NONCO�t��000O
(0 00
Cj
c rj p p d0_
�
c)
p c)
D
00
cc�
Cli
N
N
�iCM��p
��
N
N
N
CO
N
C
M
M
O0)~
M
to
M
LO
00
to
C)
C)
14'IA-06
0Na)
o
OpE
O
a)
00
>
c)
Cj
Cj
Cfl d� �t
O(AOf-
CA
0)
�C+rj
CO
CM LO I� ti
TO-,
00
Cfl
pp
O
LO
O
LO
(A
LO
QU-
04
c"i
p
c)
LO
CO o
cn
00
N
O CO
�
LU-)
oo
00
00
cC-4
U�
M
�
O)
o
0
0
po
>, LL
0
d
M
(6
0Cv5
U�M
rn C
ce) LO
M
N00
�L6
LO
d
p
r-
.-
N
O
L
L6
LO
C)
(LC .CM
O
p
M
M
c)
No
LL Co ?
0
C)
to
ti
1-
CA ` -
O
If)
U)
LO
IV LO
00
00
00
V r-
V)
L
M c0
CY) CO
d
O
�t
O
O
LL
� M
O
O
CA
3
CY?
ti
j
N (D
00
00
00
00
0
a'
ti O (D O
V 00c00000
.--
rn
T7
LL
T-
0Nc)0ML(0 rItOO
c
0
rn
d
CN
>OU-
>
cCOOCO -�
M ��
N
N
04
N
c
�
00 U
O
N
rn
N
U
cu0
ao U
L
_o
a) N 0
L
a)
CO
Q
M
C O L O
:u I a)
O
0)
U
c
CO)
L
U
N
Cl)
C
M
cu
4-
c
= pp
0
U) C (a
0) a c L
;� oo
a
m
�p
U N
c a�
`+
C CO
W
CMS -0
W Qcc
cC L 'a
� _N
L4L
y.0
E O �. 0
to
U
QM
��4d
W
va
�-� �N C)'a
; L
Qa
Q
w Q��-�¢cn0Q
=a
V) (1)
° a
C L .-. O
O
E :3
o V
c`a
c W
a)
>E0
�
C
O
a •-
0
C 0
U
�
L
i - Qi
�'
L ��+
N C
:Q
a)
O C6
a) O
O cu W
E
a)
� a) W
+. Q. L L
U) 04-
4- �
00
�'
C .a a)
U>%C
>
O Q
�0 O
>
Q�
c
a) _ c0
a CL.Q
N
NCL�
:3M
O
NC-lC
0a)�-
a- a)
0
La)O
I" �.Q
cu� a >-
'a a)) .0.
.0
F- U
�% 0 'C3
a)
a) E p) ca
a�ai'E
C
t�
a)
Q
>
!=
0.EC
X
O C
C O O
O.(Dc0.
��
N
C
C O Q-
) L)
O
� -a
LL
� � a)
—
M C L=
C
N C
'a
0 a) =
O
NrCU
L�a)0
UQ
>,2
cu
C
E0E
LSO
LOOP_
I >, a)
CON
O -C
c
U
�(n
" ai
IS
:c O c6
3:3Mca
a) F-
�s
C
M L
�
.
�NC��
Em
a
Q��
QV-0=.G
���Ma)
Lou
ww
O
L
�LQ
w0-0
O
Cl) E
N m
�' CO)OCUC~��
O
aNi-C
.0X
�'°�
O
o
CL'-
(u
w3:
v30Ur
E-
_0
D4)
:3
a a)
O-t a- a) r..,
Q0 a)LL
cuc
L
`-'
C
0a�0
c0
EL
D)XU)
cu W"O
�'wWw0
0(
�a)'c
O �
c�a cu a)
��La)a
�a)O
aN
0W
cEc
C)a)
Q C
a) a)
Q-L
4) w
~
Q- W a)
LEQM
a-
U
xa)
Nca:3
CL-
o ar om`��
W--4
ocaa
�E
o°.S
O =
,O N N�
c- C:
W
U0
U-0
_00
-0 C
CL
C-02aC
Q-
OO
HO
LL v a)
-L Ca L
C
L- Ci M
Cn .�
:3 -a
012
INVESTMENT ADVISORY BOARD
Meeting Date: November 18, 1998
TITLE:
Pooled Money Investment Board Report
for August 1998
BACKGROUND:
Correspondence & Written
Material Item B
The Pooled Money Investment Board Report for August, 1998 is included in the
agenda packet.
RECOMMENDATION:
Receive & File
hn M. Falconer, Finance Director
STATE OF CALIFORNIA
STATE TREASURER'S OFFICE
POOLED MONEY INVESTMENT BOARD REPORT
AUGUST 1998
Table of Contents
SUMMARY............................................................................................................1
SELECTED INVESTMENT DATA....................................................................2
PORTFOLIO COMPOSITION...........................................................................3
INVESTMENT TRANSACTIONS......................................................................4
TIMEDEPOSITS................................................................................................20
DEMAND BANK DEPOSITS............................................................................25
POOLED MONEY INVESTMENT BOARD DESIGNATION .....................26
INDEPENDENT AUDITORS' REPORT............................................27
POOLED MONEY DIVESTMENT ACCOUNT
SUMMARY OF INVESTMENT DATA
A COMPARISON OF AUGUST 1998 WITH AUGUST .1997
(Dollars in Thousands)
Average Daily Portfolio
Accrued Earnings
Effective Yield
Average Life --Month End (in days)
Total Security Transactions
Amount
Number
Total Time Deposit Transactions
Amount
Number
Average Workday Investment Activity
Prescribed Demand Account Balances
For Services
For Uncollected Funds
��gg August i997
$31,350,849
$150,496
5.652
201
$25,113,159
550
$1,023,200
53
$1,244,589
$132,551
$151,320
$27,688,353
$133,804
5.690
218
.$57,672,668
1,244
$581,700
37
$2,774,017
$170,159
$149,733
- $32,559,509
- 694
+ $441,500
+16
- $1,529,428
- $37,608
+ $1,587
—1—
Pooled Money Investment Account
Portfolio Composition
$30.5 Billion
Loans Reverses
r^rnnratA 6.56% -1.06
0
Commerc
Paper
21.65°A
Repurd
1.12
CD's/BN's
24.66%
isuries
,67%
Time Deposits
5.79%
Mortgages
0.08%
icies
58%
8/31 /98
C Treasuries
® Time Deposits
■ Mortgages
® Agencies
e CD's/BN's
■ Bank Acceptances
® Repurchases
IS Commercial Paper
® Corporate Bonds
0 Loans
M Reverses
-3-
MATT FONG
STATE TREASURER
STATE OF CALIFORNIA
INVESTMENT DIVISION
SELECTED INVESTMENT DATA
ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED)
Change in
August 31,1998 Percent From
Type of Security Amount Percent Previous Month
Governments
Bills
$2,2919093
•7.52
-
1.11
Bonds
0
0
0
Notes
54239904
17.15
_
Strips
0
0
.38
0
Total Governments
$7,5149,997
24.67
-
1 A9
Federal Agency Coupons
$2,4659453
8.10
+
1.24
Certificates of Deposit
6,303,688
20.70
+
4.60
Bank Notes
1,206,000
3.96
34
Bankers Acceptances
0
0
Repurchases
3409000
1.12
+
.03
1.12
Federal Agency Discount Notes
7549401
2.48
+
39
Time Deposits
1,763,390
5.79
+
GNMA's
2429
.01
.51
0
Commercial Paper
6,594,685
21.65
5.75
FELMC
21,387
,07
0
Corporate Bonds
1,811,321
5.95
+
36
Pooled Loans
1,9999517
6.56
+
GF Loans
0
0
.14
Reversed Repurchases
-321 671
-1.06
+
0
.75
Total, All Types
$309455,397
100
INVESTMENT ACTIVITY
August 1998 July 1998
Number Amount Number Amount
Pooled Money 550 $ 25,113,159 571 $ 25,645,099
Other 9 $ 37,539 7 $ 1679,954
Time Deposits 53 $ 1,023,200 54 $ 813,000
TO 612 $ 26,1739,898 632 $ 26,626,053
PMIA Monthly Average
Effective Yield 5.652 5.652
Year to Date Yield for
Last Day of Month 5.652 5.652
—2—
08/04198 REDEMPTION
7,805.56
5.698
CID
GECC
08/04/98
5.620
5.620
50,000
50,000 �
1
1
7,805.56
5.698
CID
GECC
GECC
08/04/98
08/04/98
5.620
50,000
�
7,g05:56
7,g05.56
5.698
5.698
CID
CID
GECC
08/04/98
5.620
5.620
50,000
50,000
7,805.56
5.698
CID
GECC
GECC
08/04/98
08104/98
5.620
50,000
�
7,gp5.56
39,305.56
5.698
5.743
CID
CID
FMCC
08/04/98
5.660
5.660
50,000
50,000
b
39,305.56
5.743
CID
FMCC
08/04/98
08/04/98
5.660
50,000
5
39,305.56
39,305.56
5.743
5.743
CID
CID
FMCC
FMCC
08/04/98
5.660
50,000
50,000
5
8
62,222.22
5.684
CID
SRAC
08/04/98
08/04/98
5.600
5.550
25,000
14
53,958.33
5.639
5.609
CID
Country
Amer Exp
5.520
30,000
15
15
69,000.00
115,000.00
5.520
CID
Amer Exp
08/04/98
08/04/98
5.520
50,000
CID
PURCHASE
CD
Svenska
5.5900%
12/02/98
12/02/98
5.570
5.570
50,000
50,000
CD
Svenska
5.590 /0
5.620%
01/27/99
5.610
50,000
CD
Rabo
Rabo
5.620°0%
01/27/99
56500
50,000
CD
CD
UB Calif
5.650 /0
01/27/99
.
000
50,000
CD
UB Calif
5.650%
01/27/99
08/05/98
0
5.54p
40,000
CID
GECC
GECC
08/05/98
5.540
50,000
CID
GECC
08/05/98
5.540
50,000
CID
CID
GECC
08/05/98
08/05/98
5.540
5.540
50,000
50,000
CID
CID
GECC
Amer Exp
08/07/98
5.530
50,000
Cp
Amer Exp
08/07/98
08/07/98
5.530
5.530
50,000
50,000
CID
Amer Exp
Amer Exp
08/07/98
5.530
50,000
CID
CID
Amer Exp
08/07/98
5.530
5.530
50,000
50,000
Cp
Amer Exp
08/07/98
08/07/98
5.530
50,000
CID
Amer Exp
Amer Exp
08/07/98
5.530
50,000
CID
CID
Merrill
08/10/98
08/10/98
5.510
5.510
50,000
13,000 '
CID
Merrill
Merrill
08/10/98
5.510
50,000
CID
Cp
Lehman
01 /27/99
01/27/99
5.520
5.200
50,000
50,000
CID
Lehman
08105/98 REDEMPTION
CIDGECC
08/05/98 5.540
40,000
1
1
6,155.56 5.617
7,694.44 5.617
CID
GECC
08/05/98 5.540
08/05/98 5.540
50,000
50,000
1
7,694 44 5.617
CID
GECC
GECC
08/05/98 5.540
50,000
1
7,694.44 5.617
7,694.44 5.617
CID
CID
GECC
08/05/98 5.540
50,000
1
—5—
08/03/98 REDEMPTION
BA
U/B Calif
08/03/98
5.530
$10,900
60
100,461.67
5.658
CD
Stnrd Ch
5.600% 08/03/98
5.570
50,000
94
727,250.61
5.647
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
Amer Exp
08/03/98
5.650
50,000
4
31,388.89
5.732
CP
Amer Exp
08/03/98
5.650
50,000
4
31,388.89
5.732
CP
Amer Exp
08/03/98
5.650
50,000
4
31,388.89
5.732
CP
Amer Exp
08/03/98
5.650
50,000
4
31,388.89
5.732
CP
Salomon
08/03/98
5.600
35,000
7
38,111.11
5.683
CP
Salomon
08/03/98
5.600
50,000
7
54,444.44
5.683
CP
Country
08/03/98
5.620
10,418
7
11,384.56
5.704
CP
Country
08/03/98
5.620
50,000
7
54,638.89
5.704
CP
Hertz
08/03/98
5.620
30,000
7
32,783.33
5.704
CP
FMCC
08/03/98
5.530
50,000
13
99,847.22
5.618
CP
FMCC
08/03/98
5.530
50,000
13
99,847.22
5.618
CP
FMCC
08/03/98
5.530
50,000
13
99,847.22
5.618
CP
FMCC
08/03/98
5.530
50,000
13
99,847.22
5.618
CP
Bear
08/03/98
5.520
50,000
14
107,333.35
5.608
CP
CP
Bear
08/03/98
5.520
50,000
14
107,333.35
5.608
CP
Merrill
08/03/98
5.530
50,000
25
192,013.89
5.628
CP
Merrill
08/03/98
5.530
13,000
25
49,923.61
5.628
CP
Country
08/03/98
5.555
36,250
25
139,713.54
5.648
CP
Country
Conagra
08/03/98
5.570
33,000
47
239,974.17
5.688
CP
Hertz
08/03/98
5.630
29,000
47
213,158.06
5.750
CP
FMCC
08/03/98
5.560
20,000
14
43,244.44
5.649
CP
Heller
08/03/98
5.520
50,000
14
107,333.33
5.608
CP
HeUeer
08/03/98
5.750
50,000
48
383,333.33
5.874
CP
SRAC
08/03/98
5.750
50,000
48
383,333.33
5.874
MTN
Chrysler
08/03/98
6.600% 08/03/98
5.480
6.500
50,000
13,800
103
756
783,944.44
5.644
1,859,044.00
6.500
PURCHASE
CP
GECC
08/04/98
5.620
50,000
CP
GECC
08/04/98
5.620
50,000
CP
GECC
08/04/98
5.620
50,000
CP
GECC
08/04/98
5.620
50,000
CP
GECC
08/04/98
5.620
50,000
CP
GECC
08/04/98
5.620
50,000
CP
Hertz
08/05/98
5.600
50,000
CP
Country
08/27/98
5.580
50,000
CP
Country
08/27/98
5.580
50,000
CP
Conagra
08/27/98
5.670
25,000
CP
Conagra
08/27/98
5.670
50,000
CP
Heller
08/27/98
5.670
50,000
CP
Heller
08/27/98
5.670
50,000
—4—
08/07198 PURCHASE
CP
GECC
08/10/98
08/10/98
5.470
5.470
50,000
50,000
CP
GECC
08/10/98
5.470
50,000
CP
GECC
08/10/98
5.470
50,000
CP
GECC
08/10/98
5.470
50,000
CP
Assoc
08/10/98
5.470
50,000
CP
Assoc
08/10/98
5.470
50,000
CP
Assoc
08/10/98
5.470
50,000
CP
Assoc
08/13/98
5.510
50,000
CP
CD
Herd
Westdeut
°
5.630 /0
01/27/99
5.630
50,000
50,000
CD
BkBoston
5.610%
5.610°�
0127/99
.610
5.610
10,000
CD
BkBoston
Nova Scot
5.590ok
0 1 27/99
50,000
50,000
CD
CD
Nova Scot
5.590 /0
0
09/08/98
5.590
5.560
15,000
CD
WestPac Bk
CommerLBk
5.580%
5.590%
12/29/98
5.580
30,000
CD
BN Paris
5.660%
02/04/99
5.630
25,000
CD
08/10198 REDEMPTION
3
22,791.67
5.548
CP
GECC
08/10/98
5.470
5.470
50,000
50,000
22,791.67
5.548
C p
GECC
08/10/98
08/10/98
5.470
50,000
3
22,791.67
22,791.67
5•�
5•�
CP
CP
GECC
GECC
08/10/98
5.470
50,000
50,000
3
3
22,791.67
5.54808/10/98
CP
Assoc
08/10/98
5.470
5.470
50,000
3
22,791.67
��791.67
5.548
5.548
CP
Assoc
Assoc
08/10/98
5.470
50,000
3
3
22,791.67
5.548
CP
CP
Assoc
08/10/98
5.470
5.510
50,000
50,000
6
45,916.67
5.591
CP
Amer Exp
Exp
08/10/98
08/10/98
5.510
50,000
6
45,916.67
45,916.67
5.591
5.591
CP
Amer
Amer Exp
08/10/98
5.510
50,000
6
45,916.67
5.591
CP
CP
Amer Exp
08/10/98
5.510
5570
50,000
50,000
14
108,305.56
5.659
CP
Assoc
08/10/98
08/10/98
.
5.570
50,000
14
108,305.56
108,305.56
5.659
5.659
CP
CP
Assoc
Assoc
08/10/98
5570
.
50,000
50,000
14
20
153,888.89
5.634
CP
Bear
08/10/98 5.540
08/10/98 5.540
50,000
20
153,888.89
5.634
CP
Bear
PURCHASE
CP
GE Co.
08/11/98
08/11/98
5.550
5.550
50,000
50,000
CP
GE Co.
08/11/98
5.550
50,000
CP
GE Co.
08/11/98
5.550
50•000
CP
GE Co.
08/11/98
5.540
50,000
CP
Assoc
08/11/98
5.540
50,000
CP
Assoc
08/11/98
5.540
50,000
CP
Assoc
08/11/98
5.540
50,000
CP
Assoc
08/11 /98
5.540
50,000
CP
Assoc
—7—
08/05/98 REDEMPTION
CP Hertz
CP Comnwealth
08/05/98
08/05/98
5.600
5.770
50,000 2
15,555.56
5.679
CP Hertz
08/05/98
5.540
14,000 50
25,000 27
112,194.44
5.897
CP Bear
08/05/98
5.540
50,000 97
103,875.00
746,361.11
5.640
5.702
PURCHASE
CP GECC
08/06/98
5.490
50,000
CP GECC
08/06/98
5.490
50,000
CP GECC
08/06/98
5.490
50,000
CP GECC
08/06/98
5.490
50,000
CP GECC
08/06/98
5.490
50,000
CP GECC
08/06/98
5.490
50,000
08/06/98 REDEMPTION
CP
CP
GECC
GECC
08/06/98
5A90
50,000
1
7,625.00
5.567
CP
GECC
08/06/98
08/06/98
5.490
5.490
50,000
50,000
1
7,625.00
5.567
CP
GECC
08/06/98
5.490
50,000-
1
1
7,625.00
5.567
CP
CP
GECC
GECC
08/06/98 -
5.490
50,000
1
7,625:00
7,625.00
5.567
5.567
CP
GMAC
08/06/98
.08/06/98
5.490
5.460
50,000
22,835
1
7,625-00
5.567
113
391,353.84
5.632
PURCHASE
CP
CP
Assoc
08/07/98
5.530
50,000
CP
Assoc
08/07/98
5.530
35,000
CP
GECC
GECC
08/07/98
5.530
50,000
08/07/98
5.530
50,000
08/07/98 REDEMPTION
CP
CP
Assoc
Assoc
08/07/98
08/07/98
5.530
50,000
1
768056
5.607
CP
GECC
08/07/98
5.530
5.530
35,000
50,000
1
1
5,376.39
5.607
CP
GECC
08/07/98
5.530
50,000
1
7,.
,6808056 56
5.607
CP
CP
Amer Exp
Amer Exp
08/07/98
5.530
50,000
3
3,041.67 ,
23,041.67
5.609
5.609
CP
Amer Exp
08/07/98
08/07/98
5.530
5.530
50,000
50,000
3
23,041.67
5.609
CP
CP
Amer Exp
Amer Exp
08/07/98
5.540
25,000
3
17
23,041.67
65,402.78
5.609
5.631
CP
Amer Exp
08/07/98
08/07/98
5.540
5.530
50,000
50,000
17
130,805.56
5.631
CP
Conagra
08/07/98
5.770
q.4,445
3
8
23,041.67
5.609
CP
Conagra
08/07/98
5.770
50,000
56,988.37
5.857
CP
Enron
08/07/98
5.680
50,000
11
64,111.11
5.857
CP
Baxter
08/07/98
5.625
10,000
45
86,777.78
5.768
CP
CP
Comnwealth
Salomon
08/07/98
5.820
20,000
49
70,312.50
5.743
08/07/98
5.540
50,000
52
400,111.11
5.662
M.-M
08/12/98 REDEMPTION
1
7,611.11
5.556
CP GECC
08/12/98
5.480
5.480
50,000
50,000 1
7,611.11
5.556
CP GECC
08/12/98
08/12/98
5.480
50,000 1
7,611.11
2,677,972.22
5.556
5.351
CP GECC
FNMA
5.350% 08/12/98
5.350
10,000 1828
PURCHASE
CP
GMAC
08/13/98
08/13/98
5.560
5.560
50,000
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08113/98 REDEMPTION
CP
GMAC
08/13/98
CP
GMAC
08/13/98
Cp
GMAC
08/13/98
Cp
GMAC
08/13/98
CP
GMAC
08/13/98
CP
GMAC
08/13/98
Cp
GMAC
08/13/98
CP
GMAC
08/13/98
CP
Country
08/13/98
CP
Hertz
08/13/98
PURCHASE rJ
Disc Note
FHLB
09/04/98
09/09/98
Disc Note.
FHLB
11 /16/98
Disc Note
FNMA
6.000% 06/30/99
Treas
Note
Note
7.125% 09/30/99
Treas
Treas
Note
7.875% 11 /15/99
PURCHASE
CP
GECC
08/14/98
CP
GECC
08/14/98
CP
GECC
08/14/98
CP
GECC
08/14/98
CP
GECC
08/14/98
CP
GECC
08/14/98
CP
Text Fin
08/14/98
CP
Conagra
08/17/98
5.560
50,000
1
7 ,722.22
7,722.22
5.638
5.638
5.560
50,000
1
1
7,722.22
5.638
5.560
50,000
1
7,722.22
5.638
5.560
50,000
1
7,722.22
5.638
5.560
50,000
1
7,722.22
5.638
5.560
50,000
50,000
1
7,722.22
5.638
5.560
5.560
50,000
1
7,722.22
5.638
5.550
32,000
3
14,800.00
45,916.67
5.629
5.591
5.510
50,000
6
5.580
50,000
5.580
25,000
5.580
27,800
5.550
31,096
5.550
20,000
5.550
28,000
5.560
50,000
5.560
50,000
5.560
50,000
5.560
50,000
5.560
50,000
5.560
50,000
5.650
15,000
5.570
32,800
—9—
08/10/98 PURCHASE
CP
Assoc
08/11/98
5.540
50,000
CP
Country
08/13/98
5.550
32,000
CP
SRAC
08/19/98
5.530
50,000
CP
Hertz
08/19/98
5.540
50,000
CP
Conagra
09/30/98
5.670
48,684
CP
Unocal
11/06/98
5.720
20,000
08/11/98 REDEMPTION
CP
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CP
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CP
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CP
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CP
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CP
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CP
GE Co.
08/11/98
5.550
50,000
1
7,708.33
5.627
CP
GE Co.
08/11/98
5.550
50,000
1
7,708.33
5.627
CID
Assoc
08/11/98
5.570
50,000
15
116,041.67
5.660
PURCHASE r/
Disc Note
FHLB
09/04/98
5.480
26,840
Disc Note
FHLB
09/04/98
5.480
50,000
PURCHASE
CD
World
5.530% 08/31/98
5.550
50,000
CP
GECC
08/12/98
5.480
50,000
CP
GECC
08/12/98
5.480
50,000
CP
GECC
08/12/98
5.480
50,000
CP
GECC
08/12/98
5.480
50,000
CP
GECC
08/12/98
5.480
50,000
CP
GECC
08/12/98
5.480
50,000
CP
FMCC
08/19/98
5.480
1,000
CP
FMCC
08/19/98
5.480
50,000
CP
FMCC
08/19/98
5.480
50,000
CP
Unocal
10/23/98
5.680
24,000
08/12/98 SALE r/
Disc Note FHLB
Disc Note FHLB
09/04/98
5.480
26,840
1
3,987.31
5.556
09/04/98
5.480
50,000
1
7,429.36
5.556
REDEMPTION
CP GECC
CP GECC
08/12/98
5.480
50,000
1
7,611.11
5.556
CP GECC
08/12/98
08/12/98
5.480
5.480
50,000
50,000
1
7,611.11
5.556
1
7,611.11
5.556
—8—
08/14198 PURCHASE
CID GECC
08/17/98 5.560
09/01/98 5.680
50,000
30,000
Cp Conagra
Household
09/01/98 5.530
35,000
Cp
Cp Household
09/01/98 5.530
09/01/98 5.530
50,000
50,000
Cp Household
09/01/98 5.530
50,000
Cp Household
06/18/99 5.220
50,000
Disc Note FNMA
06/18/99 5.220
50,000
Disc Note FNMA
08117/98 REDEMPTION
3
23,166.67
5.639
CP GECC
8/17/98 5.560 0
5.560
50,000
50,000
3
23,166.67
5.639
Cp GECC
08/17/98
08/17/98 5.560
23,166.67
23,166.67
5.639
5.639
CIDGECC
Cp GECC
08/17/98 5•560
50'000
50,000
3
3
23,166.67
5.639
CID GECC
08/17/98 5.560
08/17/98 5.560
50,000
3
23,166.67
20,299.56
5.639
5.650
Cp GECC
08/17/98 5.570
32,800
4
Cp Conagra
PURCHASE
Cp Household
08/18/98 5.780
08/18/98 5.780
50,000
50,000
Cp Household
08/18/98 5.800
50,000
CID ASSOC
-
08/18/98 5.800
50,000
CID Assoc
08/18/98 5.800
50,000
CID Assoc
08/18/98 5.800
50,000
Cp Assoc
GECC
08/18/98 5.820
50,000
Cp
GECC
08/18/98 5.820
50,000
Cp
Cp GECC
08/18/98 5.820
5.820
50,050,000.
50,000
Cp GECC
08/18/98
PURCHASE r/
Disc Note FHLB
09/04/98 5.840
09/04/98 5.840
1,230
50,000
Disc Note FHLB
08/18/98 REDEMPTION
Cp Household
08/18/98 5.780
50,000
1
8,027.78
8,027 78
5.861
5.861
Cp Household
08/18/98 5.780
5.800
50,000
50,000
�
8,055.56
5.881
CID Assoc
08/18/98
08/18/98 5.800
50,000
1
g,055.56
5.881
5.881
CID Assoc
CID Assoc
08/18/98 5.800
50,000
1
1
8,055.56
8,083.33
5.901
CID GECC
08/18/98 5.820
08/18/98 5.820
50,000
50,000
1
8,083.33
5.901
Cp GECC
CID GECC
08/18/98 5.820
50,000
1
1
8,083.33
8,083.33
5.901
5.901
CID GECC
08/18/98 5.820
50,000
—11—
08/14/98 RRS
Treas
Bill
Treas
Bill
Treas
Note
Treas
Note
Treas
Note
SALE 9/
co)
Morg Stan
CP
Morg Stan
REDEMPTION
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
Text Fin
SALE r/
Disc Note
FHLB
Disc Note
FHLB
Disc Note
FHLB
Treas
Note
Treas
Note
Treas
Note
RRP
Treas
Bill
Treas
Bill
PURCHASE
9/
CD
Hypo
CD
Hypo
CD
Hypo
CP
Morg Stan
CP
Morg Stan
PURCHASE
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
GECC
05/27/99
5.260
50,000
05/27/99
5.260
50,000
4.750% 09/30/98
5.165
50,000
4.750% 09/30/98
5.165
50,000
4.750% 09/30/98
5.165
50,000
08/14/98
5.510
50,000
30
229,583.35
5.612
08/14/98
5.510
50,000
30
229,583.35
-5.612
08/14/98
5.560
50,000
1
7,722.22
5.638
08/14/98
5.560
50,000
1
7,722.22
5.638
08/14/98
5.560
50,000
1
7,722.22
5.638
08/14/98
5.560
50,000
1
7,722.22
5.638
08/14/98
5.560
50,000
1
7,722.22
5.638
08/14/98
5.560
50,000
1
7,722.22
5.638
08/14/98
5.650
15,000
1
2,354.17
5.729
09/04/98
5.580
50,000
1
7,564.93
5.657
09/09/98
5.580
25,000
1
3,777.66
5.657
11 /16/98
5.580
27,800
1
4,157.41
5.657
6.000%
06/30/99
5.550
31,096
1
4,749.87
5.627
7.125%'
09/30/99
5.550
20,000
1
3,153.17
5.627
7.875%
11 /15/99
5.550
28,000
1
4,430.29
5.627
02/04/99
5.260
50,000
30
(212,591.67)
-5.333
02/04/99
5.260
50,000
30
(212,591.67)
-5.333
5.530%
09/30/98
5.520
50,000
5.530%
09/30/98
5.520
50,000
5.530%
09/30/98
5.520
50,000
09/14/98
5.510
50,000
09/14/98
5.510
50,000
08/17/98
5.560
50,000
08/17/98
5.560
50,000
08/17/98
5.560
50,000
08/17/98
5.560
50,000
08/17/98
5.560
50,000
—10—
08/20/98 PURCHASE 9/
CD
Hong Kong
CD
Hong Kong
PURCHASE
BN
B/A
BN
B/A
CD
BkBoston
CD
BkBoston
CID
Household
CID
Household
CID
Household
CID
Hertz
CID
GECC
CID
GECC
CID
GECC
CID
GECC
CID
Amer Exp
CID
Amer Exp
CID
Amer Exp
CID
Heller
08/21/98 REDEMPTION
CID
Household
CID
Household
CID
Household
PURCHASE
BN
Fst Chic
BN
Fst Chic
CD
World
CID
Amer Exp
CID
Amer Exp
CID
Amer Exp
CID
Amer Exp
CID
Household
CID
Household
CID
Enron
CID
Enron
CID
Amer Exp
CID
Amer Exp
08/24/98 REDEMPTION
MTN GMAC
5.555% 09/30/98 5.540
5.555% 09/03/98 5.540
5.580%
02/26/99
5.580
5.580%
02/26/99
5.580
5.600%
02/26/99
5.600
5.600%
02/26/99
5.600
08/21 /98
5.520
08/21/98
5.520
08/21 /98
5.520
08/27/98
5.530
08/27/98
5.500
08/27/98
5.500
08/27/98
5.500
08/27/98
5.500
09/01 /98
5.530
09/01 /98
5.530
09/01 /98
5.530
09/10/98
5.660
08/21 /98 5.520
08/21 /98 5.520
08/21 /98 5.520
5.560% 01 /27/99
5.560% 01 /27/99
5.550% 08/31 /98
09/02/98
09/02/98
09/02/98
09/02/98
09/04/98
09/04/98
10/02/98
10/20/98
08/31 /98
08/31 /98
5.560
5.560
5.500
5.520
5.520
5.520
5.520
5.510
5.510
5.660
5.660
5.500
5.500
7.250% 08/24/98 7.548
22,000
50,000
50,000
50,000
40,000
50,000
40,000
50,000
50,000
25,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
25,000
40,000
50,000
50,000
50,000
50,000
42,000
50,000
50,000
50,000
50,000
50,000
50,000
9,129
50,000
50,000
50,000
1
1
1
15,000 1435
6,133.33
5.597
7,666.67
5.597
7,666.67
5.597
4,422,379.17 7.680
—13-
08/18/98 SALE r/
Disc Note FHLB
Disc Note FHLB
PURCHASE
CD
CD
CD
CD
CID
CID
CID
CID
CID
CID
CID
CID
CID
CID
CID
FNMA
FNMA
World
World
World
World
Assoc
Assoc
Country
GECC
GECC
GECC
GECC
GECC
GECC
Heller
Heller
08/19/98 REDEMPTION
CID
Assoc
CID
Assoc
CID
FMCC
CID
FMCC
CID
FMCC
CID
SRAC
CID
Hertz
NO PURCHASES
08/20/98 RRS
Treas
Note
Treas
Note
REDEMPTION
CID
Bear
CID
Bear
CID
Hertz
CID
Text Fin
CID
Hertz
CID
Lehman
CID
Lehman
09/04/98 5.840
09/04/98 5.840
5.470%
08/16/99
5.559
5.470%
08/16/99
5.559
5.530%
08/31/98
5.550
5.530%
08/31/98
5.550
5.530%
08/31/98
5.550
5.530%
08/31/98
5.550
08/19/98
5.550
08/19/98
5.550
08/27/98
5.550
09/01 /98
5.510
09/01 /98
5.510
09/01 /98
5.510
09/01/98
5.510
09/01 /98
5.510
09/01 /98
5.510
09/04/98
5.670
09/04/98
5.670
1,230
50,000
39,525
50,000
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
25,000
50,000
1 193.69 5.921
1 7,917.42 5.921
08/19/98
5.550
25,000
1
3,854.17
5.627
08/19/98
5.550
50,000
1
7,708.33
5.627
08/19/98
5.480
1,000
8
1,217.78
5.562
08/19/98
5.480
50,000
8
60,888.89
5.562
08/19/98
5.480
50,000
8
60,888.89
5.562
08/19/98
5.530
50,000
9
69,125.00
5.614
08/19/98
5.540
50,000
9
69,250.00
5.624
4.750% 09/30/98
5.100
22,000
4.750% 09/30/98
5.100
50,000
08/20/98
5.530
50,000
38
291,861.11
5.639
08/20/98
5.530
50,000
38
291,861.11
5.639
08/20/98
5.540
26,000
65
260,072.22
5.673
08/20/98
5.700
48,000
73
554,800.00
5.846
08/20/98
5.540
45,000
114
7,898,450.00
5.717
08/20/98
5.500
50,000
127
970,138.89
5.686
08/20/98
5.500
50,000
127
970,138.89
5.686
—12—
08/26198 PURCHASE
FHLB
5.500%
08/13/01
5.499
50,000
FNMA
5.490%
08/18/00
5.499
50,000
FNMA
5.490%
08/18/00
5.499.
50,000
FHLB
5.655%
07/10/01
5.494
18,000
08/27198 SALE
Treas Note 4.750%
REDEMPTION
BN
Fst Chic
5.530%
BN
Fst Chic
5.530%
BN
NBDetroit
5.520%
BN
NBDetroit
5.520%
BN
NationsBk
5.560%
BN
NationsBk
5.560%
BN
NationsBk
5.560%
BN
NationsBk
5.560%
CD
Rabo
5.550%
CD
Rabo
5.550%
CD
Montreal
5.570%
CD
Montreal
5.570%
CD
Cr Agric
5.580%
CD
Cr Agric
5.580%
Cp
FMCC
Cp
FMCC
Cp
FMCC
CP
FMCC
CP
Hertz
CP
GECC
Cp
GECC
Cp
GECC
Cp
GECC
CP
Country
Cp
Country
Cp
Country
Cp
Conagra
Cp
Conagra
Cp
Heller
Cp
Heller
Cp
GMAC
CP
GMAC
Cp
GMAC
Cp
GMAC
Cp
Amer Exp
Cp
Amer Exp
Cp
Amer Exp
Cp
Salomon
10/31 /98
5.337
50,000
1760
10,739,639.94
4.469
08/27/98
5.530
50,000
71
545,391.44
545,391.44
5.606
5.606
08/27/98
5.530
50,000
50,000
71
128
981,333.33
5.596
08/27/98
08/27/98
5.520
5.520
50,000
128
333.33
5.5969,333.33 5.637
08/27/98
5.560
50,000
32
1,01
1,019,333.33
5.637
08/27/98
5.560
50,000
50,000
132
132
1,019,333.33
5.637
08/27/98
08/27/98
5.560
5.560
50,000
132
� 9
1,019,333.33
5.637
08/27/98
5.550
50,000
917,291.67
917,291.67
5.627
5.627
08/27/98
5.550
5.570
50,000
50,000
119
135
1'044'375.00
08/27/98
08/27/98
5.570
50,000
35
375.00
5.647
47
5.657
08/27/98
5.580
50,000
135
135
1,046,250.00
1,046,250.00
5.657
08/27/98
5.580
50,000
3
23,000.00
5.599
08/27/98
5.520
50,000
50,000
3
23,000.00
5.599
08/27/98
08/27/98
5.520
5.520
50,000
3
23,000.00
5.599
08/27/98
5.520
50,000
3
23,000.00
26,881.94
5.599
5.612
08/27/98
5.530
25,000
7
7
53,472.22
5.582
08/27/98
08/27/98
5.500
5.500
50,000
50,000
7
53,472.22
5.582
08/27/98
5.500
50,000
7
53,472.22'
53,472.22
5.582
5.582
08/27/98
5.500
50,000
50,000
7
9
69,375.00
5.634
08/27/98
08/27/98
5.550
5.580
50,000
24
186,000.00
5.678
08/27/98
5.580
50,000
24
186,000.00
94,500.00
5.678
5.770
08/27/98
5.670
25,000
50,000
24
24
189,000.00
5.77008/27/98
08/27/98
5.670
5.670
50,000
24
189,000.00
5.770
08/27/98
5.670
50,000
24
189,000.00
207,750.00
5.770
5.640
08/27/98
08/27/98
5.540
5.540
50,000
50,000
27
27
207,750.00
5.640
08/27/98
5.540
50,000
27
207,750.00
207,750.00
5.640
5.640
08/27/98
08/27/98
5.540
5.540
50,000
35,000
27
27
145,425.00
5.640
08/27/98
5.540
50,000
27
207,750.00
5.640
5.640
08/27/98
08/27/98
5.540
5.550
50,000
50,000
27
27
208,750.00
125.00
5.650
—15—
08/24/98 PURCHASE
BN
B/A
5.550%
02/26/99
5.550
50,000
BN
B/A
5.550%
02/26/99
5.550
50,000
BN
Fst Chic
5.550%
02/26/99
5.550
50,000
BN
Fst Chic
5.550%
02/26/99
5.550
50,000
CD
Bayer Lnds
5.580%
09/30/98
5.540
34,000
CD
Bayer Lnds
5.580%
09/30/98
5.540
50,000
CD
CommerzBk
5.570%
02/26/99
5.570
50,000
CD
CommerzBk
5.570%
02/26/99
5.570
50,000
CID
FMCC
08/27/98
5.520
50,000
CID
FMCC
08/27/98
5.520
50,000
CID
FMCC
08/27/98
5.520
50,000
CID
FMCC
08/27/98
5.520
50,000
CID
Morg Stan
10/13/98
5.510
50,000
CID
Morg Stan
10/13/98
5.510
50,000
CID
Morg Stan
10/13/98
5.510
50,000
CID
Assoc
10/27/98
5.500
17,000
CID
Assoc
10/27/98
5.500
50,000
08/25/98 SALE
Treas
Treas
Bill
Bill
12/10/98
4.970
50,000
250
1,832,298.63
5.640
Treas
Bill
12/10/98
4.970
50,000
250
1,832,298.63
5.640
Treas
Bill
12/10/98
4.970
50,000
250
1,832,298.63
5.640
Treas
Note
4.750%
12/10/98
10/31/98
4.970
5.320
50,000
50.,000
250
1758
1,832,298.63
5.640
Treas
Note
4.750%
10/31/98
5.320
50,000
1758
10,739,639.94
10,739,639.94
4.454
4.454
PURCHASE
CD
Hong Kong
5.580%
10/27/98
5.580
50,000
CD
Hong Kong
5.580%
10/27/98
5.580
50,000
FNMA
5.480%
07/09/99
' 5.514
50,000
CD
CIBC
5.540%
09/30/98
5.540
15,000
CD
CIBC
5.540%
09/30/98
5.540
50,000
CD
Toronto
5.520%
08/27/99
5.580
50,000
CD
Toronto
5.520%
08/27/99
5.580
50,000
CD
Rabo
5.530%
08/27/99
5.580
50,000
CD
Rabo
5.530%
08/27/99
5.580
50,000
CD
Bkrs Trst
5.550%
08/27/99
5.600
50,000
CD
Bkrs Trst
5.550%
08/27/99
5.600
50,000
08/26/98 SALE
Treas
Treas
Bill
Bill
10/07/99
4.915
50,000
216
1,493,263.89
5.453
Treas
Bill
10/07/99
4.915
50,000
210
1,493,263.89
5.453
Treas
Bill
10/07/99
4.915
50,000
210
1,493,263.89
5.453
_
Treas
Bill
12/10/98
4.975
50,000
251
1,838,465.30
5.636
Treas
Note
4.750%
12/10/98
10/31/98
4.975
5.329
50,000
50,000
251
1,838,465.30
5.636
1759
11,354,595.11
4.703
—14—
08/28198 PURCHASE
CP
GECC
08/31/98
5.530
50,000
CP
GECC
08/31/98
5.530
50,000
CP
GECC
08/31/98
5.530
50,000
CP
GECC
08/31/98
5.530
50,000
PURCHASESJ
Treas
Note
5.635%
11 /30/99
5.530
5.530
50,000
47,000
Treas
Note
5.625%
5.625%
11 /30/99
05/15/01
5.520
50,000
Treas
Note
Note
5.625%
05/15/01
5.520
50,000
Treas
Treas
Note
5.625%
05/15/01
5.520
48,250
29,650
Treas
Note
5.625%
05/15/01
5.520
08/31/98 REDEMPTION
CP
GECC
08/31 /98
5.530
50,000
3
3
23,041.67
23,041.67
5.609
5.609
CID
GECC
08/31/98
08/31 /98
5.530.
5.530
50,000
50,000
3
23,041.67 '
5.609
CP
GECC
08/31/98
5.530
50,000
3
23,041.67
5.609
CP
GECC
08/31/98
5.530
50,000
3
23,041.67
5.609
CP
GECC
08/31/98
5.530
50,000
3
23,041.67
5.609
CP
GECC
08/31 /98
5.540
50,000
3
23,083.33
5.619
CP
Helier
08/31/98
5.500
50,000
3
22,916.67
5.578
CP
Assoc
08/31 /98
5.500
50,000
3
22,916.67
5.578
CP
Assoc
08/31/98
5.500
50,000
3
22,916.67
5.578
CP
Assoc
08/31 /98
5.500
50,000
3
22,916.67
5.578
CP
CD
Assoc
World
5.500%
08/31 /98
5.500
42,000
10
100,207.72
5.627
CD
World
5.530%
08/31/98
08/31/98
5.50
5.550
50,000
13
100,207.72
5.627
CD
World
World
5.530%
5.530%
08/31/98
5
50,000
13
100,207.72
5.627
CD
CD
World
5.530%
08/31/98
50,000
13
100,207.72
154,164.96
5.627
5.627
CD
World
5.530%
08/31/98
08/31/98
5.550
5.500
0,000
50,000
20
10
76,388.89
5.584
CP
CP
Amer Exp
Amer Exp
08/31/98
5.500
50,000
10
1806
76,388.89
11,751,597.03
5.584
4.753
Treas
Note
4.750%
4.750%
08/31/98
08/31/98
4.753
4.753
50,000
50,000
1816
11,718,142.27
4.731
Treas
Note
SALE SJ
Treas
Note
5.625%
11 /30/99
5.530
50,000
3
23,013.09
21,632.44
5.606
5.606
Treas
Note
5.625%
11/30/99
05/15/01
5:520
5
50,000
3
23,271.40
5.596
Treas
Note
5.625%
5.625%
05/15/01
5.5200
50,000
3
23,271.40
5.596
Treas
Treas
Note
Note
5.625%
05/15/01
5.5
48,250
3
22,457.20
13,800.00
5.596
5.596
Treas
Note
5.625%
05/15/01
5.520
29,650
3
—17—
08/27/98 REDEMPTION
CP
Conagra
CP
GMAC
CP
GMAC
CP
GMAC
CP
GMAC
CP
Unocal
CP
GMAC
CP
GMAC
CP
GMAC
CP
GMAC
CP
GMAC
CP
GMAC
CP
Bkrs Trst
CP
Bkrs Trst
CP
Bkrs Trst
PURCHASE
SBA (FR)
CB (FR)
GMAC
PURCHASE
rd
Treas
Note
08/28/98 REDEMPTION
BN
NBDetroit
BN
NBDetroit
CP
Country
CP
Country
CP
Text Fin
CP
Hertz
CP
GMAC
CP
GMAC
SALE
Treas
Note
PURCHASE
CP
Assoc
CP
Assoc
CP
Assoc
CP
Assoc
CP
Heller
CP
GECC
CP
GECC
08/27/98
5.650
35,000
27
148,312.50
5.752
08/27/98
5.530
40,000
69
423,966.67
5.666
08/27/98
5.530
50,000
69
529,958.33
5.666
08/27/98
5.530
50,000
69
529,958.33
5.666
08/27/98
5.530
50,000
69
529,958.33
5.666
08/27/98
5.650
18,000
84
237,300.00
5.805
08/27/98
5.500
50,000
119
909,027.78
5.679
08/27/98
5.500
50,000
119
909,027.78
5.679
08/27/98
5.500
50,000
119
909,027.78
5.679
08/27/98
5.500
50,000
119
909,027.78
5.679
08/27/98
5.460
50,000
132
1,001,000.00
5.648
08/27/98
5.460
50,000
132
1,001,000.00
5.648
08/27/98
5.460
50,000
132
1,001,000.00
5.648
08/27/98
5.460
50,000
132
1,001,000.00
5.648
08/27/98
5.460
50,000
132
1,001,000.00
5.648
5.875% 08/25/23
5.875
13,262
. 5.813% 04/29/02
5.687
35,000
5.625% 11 /30/99
5.580
50,000
5.520% 08/28/98
5.520
50,000
129
989,000.00
5.596
5.520% 08/28/98
5.520
50,000
129
989,000.00
5.596
08/28/98
5.560
50,000
42
324,333.33
5.674
08/28/98
5.560
43,000
42
278,926.67
5.674
08/28/98
5.700
26,060
66
272,327.00
5.840
08/28/98
5.530
25,000
101
387,868.06
5.695
08/28/98
5.460
50,000
133
10,087,583.33
5.649
08/28/98
5.460
50,000
133
1,008,583.33
5.649
5.625% 11 /30/99 5.580
08/31/98
08/31/98
08/31/98
08/31/98
08/31/98
08/31/98
08/31/98
5.500
5.500
5.500
5.550
5.540
5.530
5.530
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
1 7,730.93 5.657
—16-
DES BANK DEPOSITS
(000 omitted)
DAILY BALANCES
A_
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
AVERAGE DOLLAR DAYS
WARRANTS
PER BANKS OUTSTANDING
$556,395
$2,6769748
4129051
296769748
635,501
195319301
635,501
19,5299,341
6359501
19,6259,060
3169261
194629124
1389735
19219,082
3069713
19219,082
310,641
192199082
266,552
190799,946
266,552
1,044,897
266,552
1,1069262
260,280
1,189,785
260,892
1,067,572
230,271
1,067,572
391,258
1,075,352
2649727
890,488
2649727
894,580
2649727
980,237
427,329
1,472,956
110,482
1 ,493,043
3099209
194939043
130,993
1,493,043
222,268
1,340,859
222,268
1,176,059
222,268
1,014,419
97,229
1,1259228
201,009
1,3809107
129,084
1,380,107
103,972
1,380,107
1619419
1,323,565
a/
$291,012
This consisted
The prescribed bank balance for August was $28398729000.00. This
000. consisted
a/ P $15793
of $126,485,000.00 in compensating balances
000.00 for July delayed deposit
uncollected funds and a deduction of $6,0 ,
credit.
-25-
NAME
VIC_"ORVI t F
Citizens Business Bank
Citizens Business Bank
TIME_DEPOSIT
DEPOSIT eeT;:
02/11/98
YIELD
5.300
P.AB.AMOUNT M
10,000,000.00
MATURITY DATE
09/23/98
Citizens Business Bank
02/11/98
03/11/98
5.320
5,000,000.00 �
10/06/98
Citizens Business Bank
06/09/98
5.270
5.390
10,000,000.00
10/08/98
Citizens Business Bank
07/09/98
5.330
10,000,000.00
12/16/98
Citizens Business 'Bank
08/06/98
5.290
10,000,000.00
02/08/99
WALNUT CR F:K
5,000,000.00
03/09/99
Bank of the West
Bank of the West
04/01/98
5.200
14,000,000.00
10/01/98
Bank of the West
04/23/98
05/15/98
5.260
25,000,000.00
10/20/98
5.450
10,000,000.00
05/13/99
TOTAL TIME DEPOSITS AS OF AUGUST 31,1998
$1,763,390,000.00
—24—
oM STATF�
GO' 0 AUDITOR
CALIFORNIA
STATE
s
•G���° or sT�'� roo�ti
MARIANNE R EVASii M
KURT R. SJOBERG CHIEF DEPUTY STATE AUDITOR
STATE AUDITOR
Independent Auditors' Report
THE GOVERNOR AND THE LEGISLATURE OF THE
STATE OF CALIFORNIA
audited the general purpose financial statements of the State of California n general
We have and
and for the year ended )une 30, 1997, as listed in the table of contents.na ementg Our
Y responsibility of the States g
purpose financial statements are the resPo � general purpose financial statements
responsibility is to express an opinion on these
our audit. We did not audit the financial statements of the pension also funds,
based ono funds. We a
which reflect total assets constituting 86 percentOffundsuwh fiduciary
�� total assets and
audit the financial statements of certain did not
enterprise �vel of the enterprise funds.
revenues, constituting 89 percent and 90 percent, respect Y�
In addition, we did not audit the University of California funds. Finally, we did not
tassets
the financial statements of certain component unit authorities, which reflof the component
and revenues, constituting 97 percent and 93 percent, respectively,
unit author
ities. The financial statements of the pension trust funds, certain ienterprise
f
funds, the University of California funds, and certain component unit authorities
Shed es of and
to above were audited by other auditors whose reports have been
' n insofar as it relates to the amounts included for these funds and entities is
our opinion,
based solely upon the reports of the other auditors.
We conducted our audit in accordance with government auditing standards issued lards.
Comptroller General of the United States and generally accepted uditing obtain reasonable
P rform the and
Those standards require that we plan and pe
whether the general purpose financial statements are free of material
assurance aboutsupporting the
misstatement. An audit includes examining, on a test basis, teev d nts a A�Pa dig also
amounts and disclosures in the general purpose financial statements.
in the accounting principles used and significant estimates made statement
includes assessing e financial sta
management, as well as evaluating the overall
lre enalofhrP° her auditors provide a
presentation. We believe that our audit and Po
rts reasonable basis for our opinion.
auditors, I the general
In our opinion, based upon our audit and the reports of ot�ent fairly,in all material
purpose financial statements as listed in the tableCalifornia of as ts of June 30, 1997, and the
respects, the financial position of the State o rietary funds and component unit
results of its operations and the cash floconformitysofitprunting
authorities for the year then ended, in with generally accepted acco
principles.
BUREAU OF STATE AUDITS
660 ]Street, Suite 300, Sacramento, Califomia 95814 Telephone: (916) 445-0255 Fax: (916) 32?-0019
—27—
Notes tD the Ftmuxi l S&denents
NOTE 3. DEPOSITS AND IN CSTIHMMM
State statutes, bond resolutions, and t policy resolutions
allow the primary g t to have investments in United States
government securities. eestl I tes of deposit, bankers' acceptances.
commercial paper. corporate bonds, bank notes. mortgage loans
and notes, other debt securities, repurchase agreements, reverse
repurchase agreemmts. equity securities, real estate, mutual fiords,
and other investments.
As of June 30, the State. including 4isere1 11W presented component
units. had inv F a tmmts in securities lending agreements. real estate.
investment contracts, mutual fiords. and other inventme 1 totaling
$48.4 billion. These investments are not subject to classification. All
remaining investments reported as of June 30. are in
three categories of credit risk:
1. Insured or registered, or securities held by the State or its
agent in the State's name.
2. Uninsured and unregistered. with securities held by the
counterparty's trust department or by an agent in the StaWs
name.
3. Uninsured and unregistered. with securities held by the
countcspariy or by its trust department or by an agent but
not in the State's name.
The types of reported at year end are representative of
the types of ats made during the year. Furthermore, the
credit risk associated with the investments reported at year end is
representative of the credit risk associated with investments made
during the year.
37
—28—
State of Cagomia
38
The State Treasurer's Office administers a pooled irnr Wment
program for the primary government and for certain
se authorities! � and
authorities. As of June 30, the special 3�g6 of the State Treaswcer's
pooled were approodmately enables the State
office pooled investment portfolio. This program
Treasurees Office to combine available cash from aIl funds and to
current needs. Enterprise funds• trust and
invest cash agency funds, and a building authority in the capital projects funds
also make separate imestmmAs.
As of June 30, the average remaining life of the securities in the
account by the State
pooled money . Treasurers Office was appraginuLtely 232 days.
The State Treasurer's Office also has agreements with certain banks
to maintain cash on deposit that does not earn inter income-
Ifor
ncome earned on these deposits compensates the banks
service and uncleared checks that are deposited in the pooled
investment program's accounts -
All demand and time deposits. totaling appraadmatelY $664 minion.
which were held by financial inWtutions as of June 30. were
insured by federal depository y insurance or by collateral held by the
StateTreasurer's , office or � an agenotof the State rnta ent Code requires
officer the State demand
d� � time deposits to be deposited
conat�eral pledged
with the state Treasurer.
As of June 30, the State Treasure's Office had amour on deposit
with fiscal agents totaling uppradmately $10 a�On-
se deposits
are related to P� g t investment activities and to
principal and interest payments due to bondholders. deposits coUateml
insurance or by
are insured the S federal �ce in the State's name.
eld by
as agent of
is of pension trust funds are reported at fair value.
The plan Raid. an agency
is of the Deferred Cora investments are
find. are at market value. All other
reported at cost or amortized cost. For these investments, no loss is
worded when market values decline below cost. as such declines
are considered temporary.
es and mortgage -backed assets
rate not
As of June 30, floating en
comprised less than 596 of the pooled investmts. For the floating
the State
rate notes in the portfolio, the interest rem by
Treasurees Office pooled in program will rise or fall as the
undadying index rate rises or falls. The structure of the floating rate
notes to the State Treasurer's Office pooled investment prom
partift is such that it hedges the portfolio against the risk of
interest rates. The mortgage -backed securities are called
is a
real estate mortgage irnrestment conduits (RE1ViI )M s
security backed by a pool of mortgages. The RE � mtates
portfolio have a fixed principal payment schedule.
—29—
Notes to the finuvtcia! Statements
The California wvtrnr-ent wade allows the State Treasurer's Office
to enter into reverse rqmrchase dents. as part of its pooled
im'estment PmgrRm. A reverse repurchase agreement is a sale of
securities with a simultaneous agreement to repurchase them in the
future at the same price plus a contract rate of interest. The market
value of the securities underlying reverse repurchase agreements
normally exceeds the cash received. providing the dealers a margin
against a decline in market value of the securities. If the dealers
default on their obligations to resell these securities to the State
Treasurer's Office or provide securities or cash of equal value, the
State Treasurer's Office pooled investment program will suffer an
economic loss equal to the difference between the market value plus
the accrued interest of the underlying securities and the agreement
obligation, including accrued interest During the year ended June
30. the State Treasurer's Office entered into 28 reverse repurchase
agreements by temporarily g
�g is with a value
Of appraarimately $4.4 billion. The maturities of investments made
with the proceeds from reverse -repurchaseagreements were
matched to the maturities of the agreements. As of June 30. the
State Treasurer's Office did not have any reverse repurchase
agreements outstanding.
State statutes and agency policies permit CaIPERS and SMS to
lend its securities to broker -dealers and other entities with a
simultaneous agreement to return the collateral for the same
securities in the future, Third party securities lending agents have
been contracted to lend domestic and international equity and debt
securities. All securities loans can be terminated on demand by the
lender or the borrower. Collateral in the form of cash or other
securities is required at 102% and 105% of the fair value of
domestic and ' tanational aecuities loaned. respectively. As of
June 30. 1997. there was no credit risk of exposure to borrowers
because the amount of collateral held exceeded the amounts owed
to the borrowers. The cash received as collateral is invested in
accordance with Inv estzaent guidelines. The weighted -average
maturity of all investments of the cash collateral was less than 90
days as -of June 30. Collateral securities received are not permitted
to be pledged or sold unless the borrower defaults. The contracts
with the security lending agents require them to indemnify Ca1PERS
and STRS if the borrowers fail to return the securities (or if the
collateral is not sufficient to replace the securities lent) or if the
borrower fails to pay for income distributions by the securities'
issuers while the securities are on loan.
In accordance with statutes authorizing CalpEM investments,
HERS. through its outside investment managers, holds
investments in futures and options and enters into forward foreign
cumency exchange contracts. Futures and options of approximately
$92 million are held for investment purposes as 'of June 30. 1997.
Gains and losses on futures and options are determined based upon
quoted market values and recorded in the statement of changes in
net assets. Forward foreign currency exchange contracts are used
primarily to hedge against changes in exchange rates related to
M7
—30—
State
40
f securities. As of June 30. 1997. CalPERS had aPP icy
foreign on net exposure to loss from forward reign
$91 mint to the $26.9 billion international debt
exchangebwmsaeums
olics. CalPERS could be �o� to risk if the
and equity portf of the
countcrpard� to the contracts are ale to se � �� this risk
contracts. CaIPERS went managers
rtycredit evaluations and approvals.
through co � �d exposure monitoring Pr'oeedures.
count�erpartYwill be able to satisfy
CaIPERS anticipates that the counterPard
their obligations under the contracts•
is the carrying value and market value of the
Table 2 present were reported by the primary government as of
investments
June 30.
Table 2
Schedule of Iavestmeats - Pdn&WY
June 30,1997
(Amounts in Owusands)
�9on► q Meriost
3 Vatues Value
Pooled InvestinarM *
U.S. GoMennrlerrt secUcities.»»......... .»»»»»-»»»»•
Deposits.»»....»»....».»..».........»......»
Bankers' aocept�u�ces.»».»..»»»»»-»»»»»»»-••••»
commercialPaper»»» ...............»...........»...»»»»»..».
Cprporatebonds»»....»..»».»»»».....»»»»»»-»»»»»»•
9a* notes..»»..»....».»..»..»...»»»..».......»»..»»..».».
Other.... »»»»»»••»--
Tob1 Pooled h-vM111— ell
Sgimalely hwested Funds Subject
to Cateeorindon
U.S. GoamnWnt SOMM"--
ConlfnCW paper.....»..«»........
Corporalsbonds »...»»..»..».
Debt securities -
Equitysewttlies..».».»....»»»................»..............»...
Secxui> ter ng cogeterat»».......»»
Otherinyestrrients..--- ....»».»......'."
Total Sspa "ft Mvested Funds Subject
S 8.745,859 S
— $ — S 8.76,832.5W40 S
6,01,40
6.832.540
'— _ 8OM5
8""ne
870.395
—_ 6,UZM
6.785,495
6,"Z756
—
1 em"0
1,567,125
1.WIM
— 949.074
NO"
949.074
— _ MAN
29.495
28.495
— 25,7
— 80,009
25,T79.t140
25.T80,009
—
.
8,991= 134,512
- 9,126,439
— 2,3M
9,341,905
,124
2.334,124 —
6,303,615 764
— 6.0C379
..- 13,244,530
GXM7881
13,244,530
13,244.530 —
— 14.131,637
14.131.637
14,131,637 —
110,530.849
110.530 W
125,122.03 —'
_ 25,1�O3B
25,122.038
25.122.038 —
4,418.027
4.416.028
418,027
4,_
T47 135,ZT6
— 1135,212A23
165,426,892
To 1>s5,076,
Separately Wasted Funds Not Subject
to Categorization
8,384,488
8,384,488
Heal estame...»».»»»..»»»»-»»»»»»•»»--»»•-~~
2,722.170
2.722.170
Vere" capital and pnva% equity
Z.045,877
2.045.877
Investrnent
1,758016
1.760.248
Mutual Wrlds»......»»�•»•
Waal lents held by broker -deal n Under SOME"24=.M
.
24,3TLM
loans with cash moral—
1 -IMGMO
1.M3 70
Other......»»..»..».....»..........
Total Separately Invested Funds Nat Subject 4O683AM 40,684.816
tD n rizadon,
210,8,7� S 135,2T6 251,6T5,486 S 251,891,548
Tote) S
• Approodrnatehl 3% of the pooled wriewnwo an Nrresrmerrls at spscid pwpw
aWhoWAss Mich are dsOVAIV pied 00 Mono* uraL
For special purpose authorities' separ I* kaasad funds. No Table 4.
—31—
INVESTMENT ADVISORY BOARD
Meeting Date: November 18, 1998
TITLE:
Year 2000 Letter and Backup
Recovery Center
BACKGROUND:
Correspondence & Written
Material Item C
At the September 1998 meeting staff advised that a copy of the vendor letter
regarding the status of their Year 2000 compliance would be presented.
RECOMMENDATION:
Receive & File
JW M. Falcdned, Finance Director
MEMORANDUM
TO: John Falconer, Finance Director
FROM: JU19 rrrera, Accounting Manager
DATE: November 4, 1998
RE: Year 2000 (Y2K) Letter and Backup Recovery Center
This memo is in response to your questions regarding the Y2K Letter to Vendors that
do business with the City and the Backup Recovery Center.
Y21K Assessment Letter to Vendors
The Y2K issue continues to include diverse opinions on the functional and economic
implications to government agency information systems when the clock strikes 12:01
a.m. on January 1, 2001.
There are an equal number of individuals that believe that the Y2K problem will mean
disaster, as there are people that think that the Y2K issue will come and go with little, if
any, interruption in service delivery and/or cost impact caused upon organizations.
With regard to the Y2K issue, the City of La Quinta, like other responsible government
agencies, continues to move forward with the analysis of the Y2K question. The
attached letter was provided by the City's computer consultant to assist the City in
obtaining information about the Y2K risk from vendors that provide goods and services
to the City. This letter will be mailed out to vendors within the next two weeks.
Backup Recovery Center
The Finance Department religiously performs daily backups of all computer files stored
on the City's Novell network file servers. The backup system is also checked daily to
verify that the system's backup program saves the files to the tapes. There are four
weeks of backup tapes for each of the two network file servers. These are rotated on a
02
weekly basis, with the current week tapes stored in a fire -proof safe inside the City's
vault. Each week, these tapes are rotated and used to replace the oldest week of the
three weeks of tapes that are stored at the Senior Center. The tapes kept at the Senior
Center are also kept in a separate fire -proof safe and in a locked room.
At this time, we are working on moving the Civic Center file server that was replaced
earlier this year over to the Senior Center. This server would be used to perform the
weekly "backup restore" function and ensure the integrity of the nightly backup system.
The expanded concept of a Backup Recovery Center is a longer -term program that our
computer consultant has been discussing with us. The consultant suggested that the
City could look at using a fiber optic conduit that could be installed between the Civic
Center and the Senior Center, and run a fiber optic cable to connect the Senior Center
file server with the Civic Center network file servers. A software application would then
ben installed on the Senior Center file server to allow constant "mirroring" of all files
that reside on the Civic Center file servers. If a disaster occurred at the Civic Center,
the data would theoretically remain available from the Senior Center and could also be
accessed by any users, depending on the degree of damage to computer hardware.
The data could also be accessed locally, through the computer directly connected to
the Senior Center file server.
There are other possibilities for a Backup Recovery Center that would allow better and
quicker access to computer files. These will be explored and.recommended to you as
part of the 1999-00 fiscal year budget. For this year, we will continue to work diligently
to backup, test and restore computer files on a regular basis. We will also continue to
work on disaster recovery procedures as part of our Computer Network Operations
Manual that we have been developing with our computer consultant.
2
03
T a 0 0
4ht of xpa"
78-495 CALLE TAMPICO — LA QUINTA, CALIFORNIA 92253 — (760) 777-7000
FAX (760) 777-7101
TDD (760) 777-1227
November 13, 1998
Dear Vendor,
The City of La Quinta is greatly concerned with the Year 2000 problem. The City of La Quinta is
taking all steps to insure there is no disruption in the City's operations, as it is related to this
problem. The City of La Quinta is also concerned with the steps your organization is taking in
regards to the Year 2000 problem. We want assurance that your organization has analyzed the
Year 2000 problem and its possible impact on the reliability and continuity of the services that you
provide to the City of La Quinta. The purpose of this survey is to gather that information.
Has your organization identified any Year 2000 problems related not only to computers and
software, but any other embedded microchips in systems used to control plant & machinery?
Has your organization appointed a Year 2000 coordinator?
If yes, provide name & phone number
Yes or No
Has your organization performed a Year 2000 audit of systems and software, performed either in-
house or by an outside consultant organization? Yes or No
Has your organization performed actual testing of systems to insure Year 2000 compliance as well
as February 29th compliance? Yes or No
Does your organization have a plan of replacing non -compliant systems and software by as
identified by the Year 2000 audit? Yes or No
Has your organization contacted other organizations for which you depend on for delivery of
services to your organization, to ensure they are taking steps to identify and correct Year 2000
problems, so they do not affect your organization? Yes or No
Please send this survey, along with any other information related to the work your organization is
doing with regard to the Year 2000 problem to: Juan Herrera, Accounting Manager, City of La
Quinta, P.O. Box 1504, La Quinta, CA 92253-1504.
Thank you,
John Falconer
Finance Director
MAILING ADDRESS - P.O. BOX 1504 - LA QUINTA, CALIFORNIA 92253 ��
INVESTMENT ADVISORY BOARD
Meeting Date: November 18, 1998
TITLE:
Fiscal Year 97/98 Legislative Update
BACKGROUND:
Correspondence & Written
Material Item D
Annually the Investment Advisory Board is presented a legislative update on
investment legislation the State of California has passed.
RECOMMENDATION:
Receive & File
ohn M. Falconer, Finance Director
INVESTMENTS
55. Local Agencies: Deposit of Funds. AB 1874 Honda). Chapter 81. Statutes of 1998.
Existing law prescribes the types of investments in which a local agency may generally
invest its funds for deposit. Those investment instruments include negotiable certificates
of deposit issued by a nationally or state -chartered bank, savings association, federal
association, state or federal credit union, or state -licensed branch of a foreign bank.
However, existing law prohibits use of those negotiable certificates of deposit of a credit
union if a member of the legislative body of the local agency or an employee of
designated offices of the local agency also serves on the board of directors or certain
committees of the credit union.
This bill instead makes that prohibition applicable if a member of the legislative body of
the local agency or any person with investment decision -making authority of those local
agency offices also serves on the board of directors or the specified committees of the
credit union.
56. Local Agencies: Deposits of Funds. AB 1898 (Honda). Chapter 82, Statutes of 1998.
Existing law permits the treasurer or chief fiscal officer of a local agency to submit to the
legislative body, chief executive officer, and auditor of the local agency, in lieu of a
quarterly report, the most recent statement or statements from certain institutions in
which local agency funds have been invested.
This bill additionally permits the use of these statements with respect to local agency
investments in National Credit Union Share Insurance Fund -insured accounts in a credit
union and in accounts insured or guaranteed by the California Credit Union Guaranty
Corporation or similarly insured or guaranteed.
57. Local Agency Investments. SB 1793 Greene), Chapter 588. Statutes of 1998. This bill
provides that specified percentage limitations on local government investment portfolios
are applicable only at the date of purchase, and that, in the event that the market value of
a specified collateral falls below the required amount, the entity that put up the collateral
will have until the end of the next business day to increase the amount of the collateral
before the local agency is required to report that it is out of compliance.
58. Insurance Agents and Brokers, Allowable Investments, Local Bonds. AB 333
(Figueroa). Chapter 163. Statutes of 1998. This bill will make the following changes: 1)
authorize fiduciary funds held by an insurance agent, broker or solicitor, surplus line
broker, or bail agent, as premium or bail, to be maintained in designated types of state
and local bonds and highly rated short-term notes as an additional option to U.S.°
Government bonds and treasury notes; 2) specify that fiduciary funds placed in state and
local government obligations must be maintained in obligations issued by the State of
California and its political subdivisions, including general obligations bonds, revenue
bonds, and short term notes that mature in less than one year; 3) require that these
government obligations receive a rating of at least Aal, MIG-1, V1VIIG-1 or Prime-1 by
Moody's Investor Service, Inc., or AA, SP-1 or A-1 by Standard and Poor's Corporation
in order to qualify for deposit of these fiduciary funds; and 4) stipulate that the insurance
agency or broker is responsible for the principal of fiduciary funds he or she maintains,
whether U.S. Government or state and local bonds, and is obligated for any loss in value
to the principal.
•
STATE OF CALIFORNIA
STATE TREASURER'S OFFICE
POOLED MONEY INVESTMENT BOARD REPORT
AUGUST 1998
Table of Contents
SUMLLVIARY.................... ................ ..........................................•.............................1
SELECTEDINVESTMENT DATA....................................................................2
PORTFOLIOCOMPOSITION...........................................................................3
INVESTMENTTRANSACTIONS......................................................................4
TIMEDEPOSITS................................................................................................20
DEMANDBANK DEPOSITS............................................................................25
POOLED MONEY INVESTMENT BOARD DESIGNATION .....................26
INDEPENDENT AUDITORS' REPORT............................................27
POOLED MONEY INVESTMENT ACCOUNT
SUMMARY OF INVESTMENT DATA
A COMPARISON OF AUGUST 1998 WITH AUGUST .1997
(Dollars in Thousands)
Total Time Deposit Transactions
Amount $1,023,200 $581,700 + $441,500
Number 53 37 + 16
Average Workday Investment Activity $1,244,589 $2,774,017 - $1,529,428
Prescribed Demand Account Balances
For Services $132,551 $170,159 - $37,608
For Uncollected Funds $151,320 $149,733 + $1,587
—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
August 31,1998 Percent From
Tyne of Security Amount Percent Previous Month
Governments
Bills
$29291,093
7.52
-
1.11
Bonds
0
0
0
Notes
5,2239904
17.15
-
.38
Strips
0
0
0
Total Governments
$7,514,997
24.67
-
1.49
Federal Agency Coupons
$2,465,453
8.10
+
1.24
Certificates of Deposit
693039688
20.70
+
4.60
Bank Notes
1,206,000
3.96
-
34
Bankers Acceptances
0
0
-
.03
Repurchases
34%000
1.12
+
1.12
Federal Agency Discount Notes
754,401
2.48
+
.39
Time Deposits
197639390
5.79
+
.51
GNMA's
21,229
.01
0
Commercial Paper
6,594,685
21.65
-
5.75
FHLMC
21,387
.07
0
Corporate Bonds
1,8119,321
5.95
+
.36
Pooled Loans
19999,517
6.56
+
.14
GF Loans .
0
0
0
Reversed Repurchases
-3219671
-1.06
+
.75
Total, All Types
$309455,397
100
INVESTMENT ACTIVITY
Pooled Money
Other
Time Deposits
TOTALS.
PMIA Monthly Average
Effective Yield
Year to Date Yield for
Last Day of Month
August 1998
July 1998
Number
Amount
Number
Amount
550
$ 2591139159
571
$ 259,645,099
9
$ 37,539
7
$ 167,954
53
$ 19023,200
54
$ 8137000
612
$ 269173,898
632
$ 269626,053
5.652 5.652
5.652 5.652
—2—
Commeri
Papei
21.650)
Repurcf'
1.121
Pooled Money Investment Account
Portfolio Composition
$30.5 Billion
Loans Reverses
Corporate 6.56% -1'06%
CD's/BN's
24.66%
asuries
-.67%
Time Deposits
5.79%
Mortgages
0.08%
icies
18%
8/31 /98
C Treasuries
® Time Deposits
■ Mortgages
® Agencies
■ CD's/BN's
® Bank Acceptances
® Repurchases
• Commercial Paper
® Corporate Bonds
O Loans
* Reverses
-3-
08/03/98 REDEMPTION
BA
U/B Calif
08/03/98
5.530
$10,900
60
100,461.67
5.658
CD
Stnrd Ch
5.600% 08/03/98
5.570
50,000
94
727,250.61
5.647
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
GECC
08/03/98
5.660
50,000
3
23,583.33
5.741
CP
Amer Exp
08/03/98
5.650
50,000
4
31,388.89
5.732
CP
Amer Exp
08/03/98
5.650
50,000
4
31,388.89
5.732
CP
Amer Exp
08/03/98
5.650
50,000
4
31,388.89
5.732
CP
Amer Exp
08/03/98
5.650
50,000
4
31,388.89
5.732
CP
Salomon
08/03/98
5.600
35,000
7
38,111.11
5.683
CP
Salomon
08/03/98
5.600
50,000
7
54,444.44
5.683
CP
Country
08/03/98
5.620
10,418
7
11,384.56 "
5.704
CP
Country
08/03/98
5.620
50,000
7
54,638.89
5.704
CP
Hertz
08/03/98
5.620
30,000
7
32,783.33
5.704
CP
FMCC
08/03/98
5.530
50,000
13
99,847.22
5.618
CP
FMCC.
08/03/98
5.530
50,000
13
99,847.22
5.618
CP
FMCC
08/03/98
5.530
50,000
13
99,847.22
5.618
CP
FMCC
08/03/98
5.530
50,000
13
99,847.22
5.618
CP
Bear
08/03/98
5.520
50,000
14
107,333.35
5.608
CP
Bear
08/03/98
5.520
50,000
14
107,333.35
5.608
CP
Merrill
08/03/98
5.530
50,000
25
192,013.89
5.628
CP
Merrill
08/03/98
5.530
13,000
25
49,923.61
5.628
CP
Country
08/03/98
5.555
36,250
25
139,713.54
5.648
CP
Country
08/03/98
5.570
33,000
47
239,974.17
5.688
CP
Conagra
08/03/98
5.630
29,000
47
213,158.06
5.750
CP
Hertz
08/03/98
5.560
20,000
14
43,244.44
5.649
CP
FMCC
08/03/98
5.520
50,000
14
107,333.33
5.608
CP
Heller
08/03/98
5.750
50,000
48
383,333.33
5.874
CP
Helleer
08/03/98
5.750
50,000
48
383,333.33
5.874
CP
SRAC
08/03/98
5.480
50,000
103
783,944.44
5.644
MTN
Chrysler
6.600% 08/03/98
6.500
13,800
756
1,859,044.00
6.500
PURCHASE
CP
GECC
08/04/98
5.620
50,000
CP
GECC
08/04/98
5.620
50,000
CP
GECC
08/04/98
5.620
50,000
CP
GECC
08/04/98
5.620
50,000
CP
GECC
08/04/98
5.620
50,000
CP
GECC
08/04/98
5.620
50,000
CP
Hertz
08/05/98
5.600
50,000
CP
Country
08/27/98
5.580
50,000
CP
Country
08/27/98
5.580
50,000
CP
Conagra
08/27/98
5.670
25,000
CP
Conagra
08/27/98
5.670
50,000
CP
Heller
08/27/98
5.670
50,000
CP
Heller
08/27/98
5.670
50,000
—4—
08/04/98 REDEMPTION
CID
GECC
08/04/98
5.620
50,000
1
7,805.56
5.698
CID
GECC
08/04/98
5.620
50,000
1
7,805.56
5.698
CID
GECC
08/04/98
5.620
50,000
1
7,805.56
5.698
CID
GECC
08/04/98
5.620
50,000
1
7,805.56
5.698
CID
GECC
08/04/98
5.620
50,000
1
7,805.56
5.698
CID
GECC
08/04/98
5.620
50,000
1
7,805.56
5.698
CID
FMCC
08/04/98
5.660
50,000
5
39,305.56
5.743
CID
FMCC
08/04/98
5.660
50,000
5
39,305.56
5.743
CID
FMCC
08/04/98
5.660
50,000
5
39,305.56
5.743
CID
FMCC
08/04/98
5.660
50,000
5
39,305.56
5.743
CID
SRAC
08/04/98
5.600
50,000
8
62,222.22
5.684
CID
Country
08/04/98
5.550
25,000
14
53,958.33
5.639
CID
Amer Exp
08/04/98
5.520
30,000
15
69,000.00
5.609
CID
Amer Exp
08/04/98
5.520
50,000
15
115,000.00
5.520
PURCHASE
CD
Svenska
5.590%
12/02/98
5.570
50,000
CD
Svenska
5.590%
12/02/98
5.570
50,000
CD
Rabo
5.620%
01/27/99
5.610
50,000
CD
Rabo
5.620%
01/27/99
5.610
50,000
CD
UB Calif
5.650%
01/27/99
5.650
50,000
CD
U/B Calif
5.650%
01/27/99
5.650
50,000
CID
GECC
08/05/98
5.540
40,000
CID
GECC
08/05/98
5.540
50,000
CID
GECC
08/05/98
5.540
50,000
CID
GECC
08/05/98
5.540
50,000
CID
GECC
08/05/98
5.540
50,000
CID
Amer Exp
08/07/98
5.530
50,000
CID
Amer Exp
08/07/98
5.530
50,000
CID
Amer Exp
08/07/98
5.530
50,000
CID
Amer Exp
08/07/98
5.530
50,000
CID
Amer Exp
08/07/98
5.530
50,000
CID
Amer Exp
08/07/98
5.530
50,000
CID
Amer Exp
08/07/98
5.530
50,000
CID
Amer Exp
08/07/98
5.530
50,000
CID
Merrill
08/10/98
5.510
50,000
CID
Merrill
08/10/98
5.510
13,000 '
CID
Merrill
08/10/98
5.510
50,000
CID
Lehman
01/27/99
5.520
50,000
CID
Lehman
01/27/99
5.200
50,000
08/05/98 REDEMPTION
CID
GECC
08/05/98
5.540
40,000
1
6,155.56
5.617
CID
GECC
08/05/98
5.540
50,000
1
7,694.44
5.617
CID
GECC
08/05/98
5.540
50,000
1
7,694.44
5.617
CP
GECC
08/05/98
5.540
50,000
1
7,694.44
5.617
CID
GECC
08/05/98
5.540
50,000
1
7,694.44
5.617
—5—
08/05/98 REDEMPTION
CID
Hertz
08/05/98
5.600
50,000
2
15,555.56
5.679
CID
Comnwealth
08/05/98
5.770
14,000
50
112,194.44
5.897
CID
Hertz
08/05/98
5.540
25,000
27
103,875.00
5.640
CID
Bear
08/05/98
5.540
50,000
97
746,361.11
5.702
PURCHASE
CID
GECC
08/06/98
5.490
50,000
CID
GECC
08/06/98
5.490
50,000
CID
GECC
08/06/98
5.490
50,000
CP
GECC
08/06/98
5.490
50,000
CID
GECC
08/06/98
5.490
50,000
CID
GECC
08/06/98
5.490
50,000
08/06/98 REDEMPTION
CID
GECC
08/06/98
5:490
50,000
1
7,625.00
5.567
CID
GECC
08/06/98
5.490
50,000
1
7,625.00
5.567
CID
GECC
08/06/98
5.490
50,000
1
7,625.00
5.567
CID
GECC
08/06/98
5.490
50,000-
1
7,625.00
5.567
CID
GECC
08/06/98
5.490
50,000
1
7,625.00
5.567
CID
GECC
08/06/98
5.490
50,000
1
7,625.00
5.567
CID
GMAC
.08/06/98
5.460
22,835
113
391,353.84
5.632
PURCHASE
CID
Assoc
08/07/98
5.530
50,000
CID
Assoc
08/07/98
5.530
35,000
CID
GECC
08/07/98
5.530
50,000
CID
GECC
08/07/98
5.530
50,000
08/07/98 REDEMPTION
CID
Assoc
08/07/98
5.530
50,000
1
7,680.56
5.607
CID
Assoc
08/07/98
5.530
35,000
1
5,376.39
5.607
CID
GECC
08/07/98
5.530
50,000
1
7,680.56
5.607
CID
GECC
08/07/98
5.530
50,000
1
7,680.56.
5.607
CID
Amer Exp
08/07/98
5.530
50,000
3
23,041.67
5.609
CID
Amer Exp
08/07/98
5.530
50,000
3
23,041.67
5.609
CID
Amer Exp
08/07/98
5.530
50,000
3
23,041.67
5.609
CID
Amer Exp
08/07/98
5.540
25,000
17
65,402.78
5.631
CID
Amer Exp
08/07/98
5.540
50,000
17
130,805.56
5.631
CID
Amer Exp
08/07/98
5.530
50,000
3
23,041.67
5.609
CID
Conagra
08/07/98
5.770
44,445
8
56,988.37
5.857
CID
Conagra
08/07/98
5.770
50,000
8
64,111.11
5.857
CID
Enron
08/07/98
5.680
50,000
11
86,777.78
5.768
CID
Baxter
08/07/98
5.625
10,000
45
70,312.50
5.743
CID
Comnwealth
08/07/98
5.820
20,000
49
158,433.33
5.947
CID
Salomon
08/07/98
5.540
50,000
52
400,111.11
5.662
Q:Z
08/07/98 PURCHASE
CP
GECC
08/10/98
5.470
50,000
CP
GECC
08/10/98
5.470
50,000
CP
GECC
08/10/98
5.470
50,000
CP
GECC
08/10/98
5.470
50,000
CP
Assoc
08/10/98
5.470
50,000
CP
Assoc
08/10/98
5.470
50,000
CP
Assoc
08/10/98
5.470
50,000
CP
Assoc
08/10/98
5.470
50,000
CP
Hertz
08/13/98
5.510
50,000
CD
Westdeut
5.630%
01/27/99
5.630
50,000
CD
BkBoston
5.610%
01/27/99
5.610
50,000
CD
BkBoston
5.610%
01/27/99
5.610
10,000
CD
Nova Scot
5.590%
01/27/99
5.590
50,000
CD
Nova Scot
5.590%
01/27/99
5.590
50,000
CD
WestPac Bk
5.580%
09/08/98
5.560
15,000
CD
CommerzBk
5.590%
12/29/98
5.580
30,000
CD
BN Paris
5.660%
02/04/99
5.630
25,000
08/10/98 REDEMPTION
CP
GECC
08/10/98
5.470
50,000
3
22,791.67
5.548
CP
GECC
08/10/98
5.470
50,000
3
22,791.67
5.548
CP
GECC
08/10/98
5.470
50,000
3
22,791.67
5.548
CP
GECC
08/10/98
5.470
50,000
3
22,791.67
5.548
CP
Assoc
08/10/98
5.470
50,000
3
22,791.67
5.548
CP
Assoc
08/10/98
5.470
50,000
3
22,791.67
5.548
CP
Assoc
08/10/98
5.470
50,000
3
22,791.67
5.548
CP
Assoc
08/10/98
5.470
50,000
3
22,791.67
5.548
CP
Amer Exp
08/10/98
5.510
50,000
6
45,916.67
5.591
CP
Amer Exp
08/10/98
5.510
50,000
6
45,916.67
5.591
CP
Amer Exp
08/10/98
5.510
50,000
6
45,916.67
5.591
CP
Amer Exp
08/10/98
5.510
50,000
6
45,916.67
5.591
CP
Assoc
08/10/98
5.570
50,000
14
108,305.56
5.659
CP
Assoc
08/10/98
5.570
50,000
14
108,305.56
5.659
CP
Assoc
08/10/98
5.570
50,000
14
108,305.56
5.659
CP
Bear
08/10/98
5.540
50,000
20
153,888.89
5.634
CP
Bear
08/10/98
5.540
50,000
20
153,888.89
5.634
PURCHASE
CP
GE Co.
08/11/98
5.550
50,000
CP
GE Co.
08/11/98
5.550
50,000
CP
GE Co.
08/11/98
5.550
50,000
CP
GE Co.
08/11/98
5.550
50,000
CP
Assoc
08/11/98
5.540
50,000
CP
Assoc
08/11/98
5.540
50,000
CP
Assoc
08/11/98
5.540
50,000
CP
Assoc
08/11/98
5.540
50,000
CP
Assoc
08/11/98
5.540
50,000
—7—
08/10/98 PURCHASE
CID
Assoc
08/11/98
5.540
50,000
CID
Country
08/13/98
5.550
32,000
CID
SRAC
08/19/98
5.530
50,000
CID
Hertz
08/19/98
5.540
50,000
CID
Conagra
09/30/98
5.670
48,684
CID
Unocal
11 /06/98
5.720
20,000
08/11/98 REDEMPTION
CID
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CID
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CID
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CID
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CID
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CID
Assoc
08/11/98
5.540
50,000
1
7,694.44
5.617
CID
GE Co.
08/11/98
5.550
50,000
1
7,708.33
5.627
CID
GE Co.
08/11/98
5.550
50,000
1
7,708.33
5.627
CID
Assoc
08/11/98
5.570
50,000
15
116,041.67
5.660
PURCHASE
r/
Disc Note
FHLB
09/04/98
5.480
26,840
Disc Note
FHLB
09/04/98
5.480
50,000
PURCHASE
CD
World
5.530% 08/31 /98
5.550
50,000
CID
GECC
08/12/98
5.480
50,000
CID
GECC
08/12/98
5.480
50,000
CID
GECC
08/12/98
5.480
50,000
CID
GECC
08/12/98
5.480
50,000
CID
GECC
08/12/98
5.480
50,000
CID
GECC
08/12/98
5.480
50,000
CID
FMCC
08/19/98
5.480
1,000
CID
FMCC
08/19/98
5.480
50,000
CID
FMCC
08/19/98
5.480
50,000
CID
Unocal
10/23/98
5.680
24,000
08/12/98 SALE -c/
Disc Note
FHLB
09/04/98
5.480
26,840
1
3,987.31
5.556
Disc Note
FHLB
09/04/98
5.480
50,000
1
7,429.36
5.556
REDEMPTION
CID
GECC
08/12/98
5.480
50,000
1
7,611.11
5.556
CID
GECC
08/12/98
5.480
50,000
1
7,611.11
5.556
CID
GECC
08/12/98
5.480
50,000
1
7,611.11
5.556
—8—
08/12/98 REDEMPTION
CP
GECC
08/12/98
5.480
50,000 1
7,611.11
5.556
CP
GECC
08/12/98
5.480
50,000 1
7,611.11
5.556
CP
GECC
08/12/98
5.480
50,000 1
7,611.11
5.556
FNMA
5.350% 08/12/98
5.350
10,000 1828
2,677,972.22
5.351
PURCHASE
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
CP
GMAC
08/13/98
5.560
50,000
08/13/98 REDEMPTION
CP
GMAC
08/13/98
5.560
50,000
1
7,722.22
5.638
CP
GMAC
08/13/98
5.560
50,000
1
7,722.22
5.638
CP
GMAC
08/13/98
5.560
50,000
1
7,722.22
5.638
CP
GMAC
08/13/98
5.560
50,000
1
7,722.22
5.638
CP
GMAC
08/13/98
5.560
50,000
1
7,722.22
5.638
CP
GMAC
08/13/98
5.560
50,000
1
7,722.22
5.638
CP
GMAC
08/13/98
5.560
50,000
1
7,722.22
5.638
CP
GMAC
08/13/98
5.560
50,000
1
7,722.22
5.638
CP
Country
08/13/98
5.550
32,000
3
14,800.00
5.629
CP
Hertz
08/13/98
5.510
50,000
6
45,916.67
5.591
PURCHASE
rJ
Disc Note
FHLB
09/04/98
5.580
50,000
Disc Note
FHLB
09/09/98
5.580
25,000
Disc Note
FNMA
11/16/98
5.580
27,800
Treas
Note
6.000% 06/30/99
5.550
31,096
Treas
Note
7.125% 09/30/99
5.550
20,000
Treas
Note
7.875% 11 /15/99
5.550
28,000
PURCHASE
CP
GECC
08/14/98
5.560
50,000
CP
GECC
08/14/98
5.560
50,000
CP
GECC
08/14/98
5.560
50,000
CP
GECC
08/14/98
5.560
50,000
CP
GECC
08/14/98
5.560
50,000
CP
GECC
08/14/98
5.560
50,000
CP
Text Fin
08/14/98
. 5.650
15,000
CP
Conagra
08/17/98
5.570
32,800
Mm
08/14/98 RRS
Treas
Bill
05/27/99
5.260
50,000
Treas
Bill
05/27/99
5.260
50,000
Treas
Note
4.750%
09/30/98
5.165
50,000
Treas
Note
4.750%
09/30/98
5.165
50,000
Treas
Note
4.750%
09/30/98
5.165
50,000
SALE g/
CP
Morg Stan
08/14/98
5.510
50,000
30
229,583.35
5.612
CP
Morg Stan
08/14/98
5.510
50,000
30
229,583.35
5.612
REDEMPTION
CP
GECC
08/14/98
5.560
50,000
1
7,722.22
5.638
CP
GECC
08/14/98
5.560
50,000
1
7,722.22
5.638
CP
GECC
08/14/98
5.560
50,000
1
7,722.22
5.638
CP
GECC
08/14/98
5.560
50,000
1
7,722.22
5.638
CP
GECC
08/14/98
5.560
50,000
1
7,722.22
5.638
CP
GECC
08/14/98
5.560
50,000
1
7,722.22
5.638
CP
Text Fin
08/14/98
5.650
15,000
1
2,354.17
5.729
SALE s l
Disc Note
FHLB
09/04/98
5.580
50,000
1
7,564.93
5.657
Disc Note
FHLB
09/09/98
5.580
25,000
1
3,777.66
5.657
Disc Note
FHLB
11/16/98
5.580
27,800
1
4,157.41
5.657
Treas
Note
6.000%
06/30/99
5.550
31,096
1
4,749.87
5.627
Treas
Note
7.125%
09/30/99
5.550
20,000
1
3,153.17
5.627
Treas
Note
7.875%
11 /15/99
5.550
28,000
1
4,430.29
5.627
RRP
Treas
Bill
02/04/99
5.260
50,000
30
(212,591.67)
-5.333
Treas
Bill
02/04/99
5.260
50,000
30
(212,591.67)
-5.333
PURCHASE S/
CD
Hypo
5.530%
09/30/98
5.520
50,000
CD
Hypo
5.530%
09/30/98
5.520
50,000
CD
Hypo
5.530%
09/30/98
5.520
50,000
CP
Morg Stan
09/14/98
5.510
50,000
CP
Morg Stan
09/14/98
5.510
50,000
PURCHASE
CP
GECC
08/17/98
5.560
50,000
CP
GECC
08/17/98
5.560
50,000
CP
GECC
08/17/98
5.560
50,000
CP
GECC
08/17/98
5.560
50,000
CP
GECC
08/17/98
5.560
50,000
—10—
08114/98 PURCHASE
CP
GECC
CP
Conagra
CP
Household
CP
Household
CP
Household
CP
Household
Disc Note
FNMA
Disc Note
FNMA
08/17/98 REDEMPTION
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
Conagra
PURCHASE
CP
Household
CP
Household
CP
Assoc
CP
Assoc
CP
Assoc
CP
Assoc
CP
GECC
CP
GECC
CP
GECC
CP
GECC
PURCHASE
!r/
Disc Note
FHLB
Disc Note
t
FHLB
08/18/98 REDEMPTION
CP
Household
CP
Household
CP
Assoc
CP
Assoc
CP
Assoc
CP
GECC
CP
GECC
CP
GECC
CP
GECC
08/17/98
5.560
50,000
09/01 /98
5.680
30,000
09/01 /98
5.530
35,000
09/01 /98
5.530
50,000
09/01 /98
5.530
50,000
09/01 /98
5.530
50,000
06/18/99
5.220
50,000
06/18/99
5.220
50,000
08/17/98
5.560
50,000
3
23,166.67
5.639
08/17/98
5.560
50,000
3
23,166.67
5.639
08/17/98
5.560
50,000
3
23,166.67
5.639
08/17/98
5.560
50,000
3
23,166.67
5.639
08/17/98
5.560
50,000
3
23,166.67
5.639
08/17/98
5.560
50,000
3
23,166.67
5.639
08/17/98
5.570
32,800
4
20,299.56
5.650
08/18/98
5.780
50,000
08/18/98
5.780
50,000
08/18/98
5.800
50,000
08/18/98
5.800
50,000
08/18/98
5.800
50,000
08/18/98
5.800
50,000
08/18/98
5.820
50,000
08/18/98
5.820
50,000
08/18/98
5.820
50,000
08/18/98
5.820
50,000
09/04/98 5.840 1,230
09/04/98 5.840 50,000
08/18/98
5.780
50,000
1
8,027.78
5.861
08/18/98
5.780
50,000
1
8,027.78
5.861
08/18/98
5.800
50,000
1
8,055.56
5.881
08/18/98
5.800
50,000
1
8,055.56
5.881
08/18/98
5.800
50,000
1
8,055.56
5.881
08/18/98
5.820
50,000
1
8,083.33
5.901
08/18/98
5.820
50,000
1
8,083.33
5.901
08/18/98
5.820
50,000
1
8,083.33
5.901
08/18/98
5.820
50,000
1
8,083.33
5.901
—11—
08/18/98 SALE rI
Disc Note FHLB
Disc Note FHLB
PURCHASE
FNMA
FNMA
CD
World
CD
World
CD
World
CD
World
CP
Assoc
CP
Assoc
CID
Country
CID
GECC
CID
GECC
CID
GECC
CID
GECC
CID
GECC
CID
GECC
CP
Heller
CID
Heller
08/19/98 REDEMPTION
CID
Assoc
CID
Assoc
CP
FMCC
CID
FMCC
CID
FMCC
CID
SRAC
CID
Hertz
NO PURCHASES
08/20/98 RRS
Treas
Note
Treas
Note
REDEMPTION
CID
Bear
CID
Bear
CP
Hertz
CP
Text Fin
CID
Hertz
CP
Lehman
CID
Lehman
09/04/98 5.840 1,230 1 193.69 5.921
09/04/98 5.840 50,000 1 7,917.42 5.921
5.470%
08/16/99
5.559
39,525
5.470%
08/16/99
5.559
50,000
5.530%
08/31 /98
5.550
50,000
5.530%
08/31 /98
5.550
50,000
5.530%
08/31 /98
5.550
50,000
5.530%
08/31/98
5.550
50,000
08/19/98
5.550
25,000
08/19/98
5.550
50,000
08/27/98
5.550
50,000
09/01/98
5.510
50,000
09/01/98
5.510
50,000
09/01/98
5.510
50,000
09/01/98
5.510
50,000
09/01/98
5.510
50,000
09/01/98
5.510
50,000
09/04/98
5.670
25,000
09/04/98
5.670
50,000
08/19/98
5.550
25,000
1
3,854.17
5.627
08/19/98
5.550
50,000
1
7,708.33
5.627
08/19/98
5.480
1,000
8
1,217.78
5.562
08/19/98
5.480
50,000
8
60,888.89
5.562
08/19/98
5.480
50,000
8
60,888.89
5.562
08/19/98
5.530
50,000
9
69,125.00
5.614
08/19/98
5.540
50,000
9
69,250.00
5.624
4.750% 09/30/98 5.100 22,000
4.750% 09/30/98 5.100 50,000
08/20/98
5.530
50,000
38
291,861.11
5.639
08/20/98
5.530
50,000
38
291,861.11
5.639
08/20/98
5.540
26,000
65
260,072.22
5.673
08/20/98
5.700
48,000
73
554,800.00
5.846
08/20/98
5.540
45,000
114
7,898,450.00
5.717
08/20/98
5.500
50,000
127
970,138.89
5.686
08/20/98
5.500
50,000
127
9701138.89
5.686
—12—
08/20/98 PURCHASE g/
CD
Hong Kong
CD
Hong Kong
PURCHASE
BN
B/A
BN
B/A
CD
BkBoston
CD
BkBoston
CP
Household
CP
Household
CP
Household
CP
Hertz
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
Amer Exp
CP
Amer Exp
CP
Amer Exp
CP
Heller
08/21/98 REDEMPTION
CP
Household
CP
Household
CP
Household
PURCHASE
BN
Fst Chic
BN
Fst Chic
CD
World
CP
Amer Exp
CP
Amer Exp
CP
Amer Exp
CP
Amer Exp
CP
Household
CP
Household
CP
Enron
CP
Enron
CP
Amer Exp
CP
Amer Exp
08/24/98 REDEMPTION
MTN GMAC
5.555% 09/30/98 5.540
5.555% 09/03/98 5.540
5.580%
02/26/99
5.580
5.580%
02/26/99
5.580
5.600%
02/26/99
5.600
5.600%
02/26/99
5.600
08/21 /98
5.520
08/21 /98
5.520
08/21 /98
5.520
08/27/98
5.530
08/27/98
5.500
08/27/98
5.500
08/27/98
5.500
08/27/98
5.500
09/01 /98
5.530
09/01 /98
5.530
09/01 /98
5.530
09/10/98
5.660
08/21 /98 5.520
08/21 /98 5.520
08/21 /98 5.520
5.560% 01 /27/99
.5.560
5.560% 01 /27/99
5.560
5.550% 08/31 /98
5.500
09/02/98
5.520
09/02/98
5.520
09/02/98
5.520
09/02/98
5.520
09/04/98
5.510
09/04/98
5.510
10/02/98
5.660
10/20/98
5.660
08/31 /98
5.500
08/31 /98
5.500
7.250% 08/24/98 7.548
22,000
50,000
50,000
50,000
40,000
50,000
40,000
50,000
50,000
25,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
25,000
40,000
50,000
50,000
50,000
50,000
42,000
50,000
50,000
50,000
50,000
50,000
50,000
9,129
50,000
50,000
50,000
1 6,133.33 5.597
1 7,666.67 5.597
1 7,666.67 5.597
15,000 1435 4,422,379.17 7.680
—13-
08/24/98 PURCHASE
BN
B/A
5.550%
02/26/99
5.550
50,000
BN
B/A
5.550%
02/26/99
5.550
50,000
BN
Fst Chic
5.550%
02/26/99
5.550
50,000
BN
Fst Chic
5.550%
02/26/99
5.550
50,000
CD
Bayer Lnds
5.580%
09/30/98
5.540
34,000
CD
Bayer Lnds
5.580%
09/30/98
5.540
50,000
CD
CommerzBk
5.570%
02/26/99
5.570
50,000
CD
CommerzBk
5.570%
02/26/99
5.570
50,000
CP
FMCC
08/27/98
5.520
50,000
CP
FMCC
08/27/98
5.520
50,000
CP
FMCC
08/27/98
5.520
50,000
CP
FMCC
08/27/98
5.520
50,000
CP
Morg Stan
10/13/98
5.510
50,000
CP
Morg Stan
10/13/98
5.510
50,000
CP
Morg Stan
10/13/98
5.510
50,000
CP
Assoc
10/27/98
5.500
17,000
CP
Assoc
10/27/98
5.500
50,000
08/25/98 SALE
Treas
Bill
12/10/98
4.970
50,000
250
1,832,298.63
5.640
Treas
Bill
12/10/98
4.970
50,000
250
1,832,298.63
5.640
Treas
Bill
12/10/98
4.970
50,000
250
1,832,298.63
5.640
Treas
Bill
12/10/98
4.970
50,000
250
1,832,298.63
5.640
Treas
Note
4.750%
10/31 /98
5.320
50,000
1758
10,739,639.94
4.454
Treas
Note
4.750%
10/31 /98
5.320
50,000
1758
10,739,639.94
4.454
PURCHASE
CD
Hong Kong
5.580%
10/27/98
5.580
50,000
CD
Hong Kong
5.580%
10/27/98
5.580
50,000
FNMA
5.480%
07/09/99
5.514
50,000
CD
CIBC
5.540%
09/30/98
5.540
15,000
CD
CIBC
5.540%
09/30/98
5.540
50,000
CD
Toronto
5.520%
08/27/99
5.580
50,000
CD
Toronto
5.520%
08/27/99
5.580
50,000
CD
Rabo
5.530%
08/27/99
5.580
50,000
CD
Rabo
5.530%
08/27/99
5.580
50,000
CD
Bkrs Trst
5.550%
08/27/99
5.600
50,000
CD
Bkrs Trst
5.550%
08/27/99
5.600
.50,000
08/26/98 SALE
Treas
Bill
10/07/99
. 4.915
50,000
210
1,493,263.89
5.453
Treas
Bill
10/07/99
4.915
50,000
210
1,493,263.89
5.453
Treas
Bill
10/07/99
4.915
50,000
210
1,493,263.89
5.453
Treas
Bill
12/10/98
4.975
50,000
251
1,838,465.30
5.636
Treas
Bill
12/10/98
4.975
50,000
251
1,838,465.30
5.636
Treas
Note
4.750%
10/31/98
5.329
50,000
1759
11,354,595.11
4.703
—14—
08/26/98 PURCHASE
FHLB
5.500%
08/13/01
5.499
50,000
FNMA
5.490%
08/18/00
5.499
50,000
FNMA
5.490%
08/18/00
5.499
50,000
FHLB
5.655%
07/10/01
5.494
18,000
08/27/98 SALE
Treas Note 4.750% 10/31/98 5.337 50,000 1760 10,739,639.94 4.469
REDEMPTION
BN
Fst Chic
5.530%
08/27/98
5.530
50,000
71
545,391.44
5.606
BN
Fst Chic
5.530%
08/27/98
5.530
50,000
71
545,391.44
5.606
BN
NBDetroit
5.520%
08/27/98
5.520
50,000
128
981,333.33
5.596
BN
NBDetroit
5.520%
08/27/98
5.520
50,000
128
981,333.33
5.596
BN
NationsBk
5.560%
08/27/98
5.560
50,000
132
1,019,333.33
5.637
BN
NationsBk
5.560%
08/27/98
5.560
50,000
132
1,019,333.33
5.637
BN
NationsBk
5.560%
08/27/98
5.560
50,000
132
1,019,333.33
5.637
BN
NationsBk
5.560%
08/27/98
5.560
50,000
132
1,019,333.33
5.637
CD
Rabo
5.550%
08/27/98
5.550
50,000
119
917,291.67
5.627
CD
Rabo
5.550%
08/27/98
5.550
50,000
119
917,291.67
5.627
CD
Montreal
5.570%
08/27/98
5.570
50,000
135
1,044,375.00
5.647
CD
Montreal
5.570%
08/27/98
5.570
50,000
135
1,044,375.00
5.647
CD
Cr Agric
5.580%
08/27/98
5.580
50,000
135
1,046,250.00
5.657
CD
Cr Agric
5.580%
08/27/98
5.580
50,000
135
1,046,250.00
5.657
CP
FMCC
08/27/98
5.520
50,000
3
23,000.00
5.599
CP
FMCC
08/27/98
5.520
50,000
3
23,000.00
5.599
CP
FMCC
08/27/98
5.520
50,000
3
23,000.00
5.599
CP
FMCC
08/27/98
5.520
50,000
3
23,000.00
5.599
CP
Hertz
08/27/98
5.530
25,000
7
26,881.94
5.612
CP
GECC
08/27/98
5.500
50,000
7
53,472.22
5.582
CP
GECC
08/27/98
5.500
50,000
7
53,472.22
5.582
CP
GECC
08/27/98
5.500
50,000
7
53,472.22
5.582
CP
GECC
08/27/98
5.500
50,000
7
53,472.22
5.582
CP
Country
08/27/98
5.550
50,000
9
69,375.00
5.634
CP
Country
08/27/98
5.580
50,000
24
186,000.00
5.678
CP
Country
08/27/98
5.580
50,000
24
186,000.00
5.678
CP
Conagra
08/27/98
5.670
25,000
24
94,500.00
5.770
CP
Conagra
08/27/98
5.670
50,000
24
189,000.00
5.770
CP
Heller
08/27/98
5.670
50,000
24
189,000.00
5.770
CP
Heller
08/27/98
5.670
50,000
24
189,000.00
5.770
CP
GMAC
08/27/98
5.540
50,000
27
207,750.00
5.640
CP
GMAC
08/27/98
5.540
50,000
27
207,750.00
5.640
CP
GMAC
08/27/98
5.540
50,000
27
207,750.00
5.640
CP
GMAC
08/27/98
5.540
50,000
27
207,750.00
5.640
CP
Amer Exp
08/27/98
5.540
35,000
27
145,425.00
5.640
CP
Amer Exp
08/27/98
5.540
50,000
27
207,750.00
5.640
CP
Amer Exp
08/27/98
5.540
50,000
27
207,750.00
5.640
CP
Salomon
08/27/98
5.550
50,000
27
208,125.00
5.650
—15—
08/27/98 REDEMPTION
CID
Conagra
CID
GMAC
CID
GMAC
CID
GMAC
CID
GMAC
CID
Unocal
CID
GMAC
CID
GMAC
CID
GMAC
CID
GMAC
CID
GMAC
CID
GMAC
CID
Bkrs Trst
CID
Bkrs Trst
CID
Bkrs Trst
PURCHASE
SBA (FR)
CB (FR)
GMAC
PURCHASE sL
Treas
Note
08/28/98 REDEMPTION
BN
NBDetroit
BN
NBDetroit
CID
Country
CID
Country
CP
Text Fin
CID
Hertz
CID
GMAC
CID
GMAC
SALE !rj
Treas
Note
PURCHASE
CID
Assoc
CID
Assoc
CID
Assoc
CID
Assoc
CID
Heller
CID
GECC
CID
GECC
08/27/98
5.650
35,000
27
148,312.50
5.752
08/27/98
5.530
40,000
69
423,966.67
5.666
08/27/98
5.530
50,000
69
529,958.33
5.666
08/27/98
5.530
50,000
69
529,958.33
5.666
08/27/98
5.530
50,000
69
529,958.33
5.666
08/27/98
5.650
18,000
84
237,300.00
5.805
08/27/98
5.500
50,000
119
909,027.78
5.679
08/27/98
5.500
50,000
119
909,027.78
5.679
08/27/98
5.500
50,000
119
909,027.78
5.679
08/27/98
5.500
50,000
119
909,027.78
5.679
08/27/98
5.460
50,000
132
1,001,000.00
5.648
08/27/98
5.460
50,000
132
1,001,000.00
5.648
08/27/98
5.460
50,000
132
1,001,000.00
5.648
08/27/98
5.460
50,000
132
1,001,000.00
5.648
08/27/98
5.460
50,000
132
1,001,000.00
5.648
5.875% 08/25/23 5.875 13,262
5.813% 04/29/02 5.687 35,000
5.625% 11/30/99 5.580 50,000
5.520% 08/28/98
5.520
50,000
129
989,000.00
5.596
5.520% 08/28/98
5.520
50,000
129
989,000.00
5.596
08/28/98
5.560
50,000
42
324,333.33
5.674
08/28/98
5.560
43,000
42
278,926.67
5.674
08/28/98
5.700
26,060
66
272,327.00
5.840
08/28/98
5.530
25,000
101
387,868.06
5.695
08/28/98
5.460
50,000
133
10,087,583.33
5.649
08/28/98
5.460
50,000
133
1,008,583.33
5.649
5.625% 11 /30199
5.580
50,000
1
7,730.93
5.657
08/31 /98
5.500
50,000
08/31 /98
5.500
50,000
08/31 /98
5.500
50,000
08/31 /98
5.550
50,000
08/31 /98
5.540
50,000
08/31 /98
5.530
50,000
08/31 /98
5.530
50,000
—16—
DEMAND BANK DEPOSITS
(000 omitted)
DAILY BALANCES
AUGUST
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
AVERAGE DOLLAR DAYS
WARRANTS
PER BANKS OUTSTANDING
$5569395
$296769748
4129051
296769748
6359501
19531,301
6359501
19529,341
6359501
1,6259060
316461
194629124
1389735
192191,082
3069713
192199082
3109641
19219,082
2669552
19,079,946
2669552
190449897
2669552
191069,262
2609280
1,1899785
2609892
190679572
2309271
190679,572
3919258
1,0751,352
2649727
890,488
2649727
8949580
2649727
980437
427,329
1947299.56
1109482
194939043
3099209
194939043
130,993
1,4939043
2229268
193409859
2229268
1,1769059
222,268
1,0149419
979229
111259228
2019009
19380,107
1299084
1,3809107
1039972
1,3809107
1619419
13,3239565
al
$2919012
a/ The prescribed bank balance for August was $283,872,000.00. This consisted
of $126,485,000.00 in compensating balances for services, $157,386,000.00
uncollected funds and a deduction of $6,066,000.00 for July delayed deposit
credit.
-25-
DESIGNATION BY POOLED MONEY INVESTMENT BOARD
OF TREASURY POOLED MONEY INVESTMENTS AND DEPOSITS
No. 1590
In accordance with sections 16480 through 16480.8 of the Government Code, the Pooled Money Investment Board, at its
meeting on August 19,1998, 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 $ 137,641,000
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:
Time Deposits in
various Financial
Institutions
From
— To _
Transactions
In
In Securities
16430)*
(sections 16503a
and 16602)*
Estimated
Total
( 1)
08/17/98
08/21/98
$
602,700,000
$
28,847,310,000
$ 1,738,390,000
$
30,585,700,000
(2)
08/24/98
08/28/98
$
275,900,000
$
29,123,210,000
$ 1,738,390,000
$
30,861,600,000
(3)
08/31/98
09/04/98
$
(940,300,000)
$
28,182,910,000
$ 1,738,390,000
$
29,921,300,000
(4)
09/07/98
09/11/98
$
(97,500,000)
$
28,085,410,000
$ 1,738,390,000
$
29,823,800,000
(5)
09/14/98
09/18/98
$
3,183,900,000
$
31,269,310,000
$ 1,738,390,000
$
33,007,700,000
(6)
09/21/98
09/25/98
$
1,119,300,000
$
32,388,610,000
$ 1,738,390,000
$
34,127,000,000
(7)
09/28/98
10/02/98
$
(557,100,000)
$
31,831,510,000
$ 1,738,390,000
$
33,569,900,000
(8)
10/05/98
10/09/98
$
(282,500,000)
$
31,549,010,000
$ 1,738,390,000
$
33,287,400,000
(9)
10/12/98
10/16/98
$
590,600,000
$
32,139,610,000
$ 1,738,390,000
$
33,878,000,000
(10)
10/19/98
10/23/98
$
186,100,000
$
32,325,710,000
$ 1,738,390,000
$
34,064,100,000
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 $ 137,641,000.
Dated: August 19,1998
"Government Code
--
-26-
08/28/98 PURCHASE
CP GECC
08/31/98
5.530
50,000
CP GECC
08/31/98
5.530
50,000
CP GECC
08/31/98
5.530
50,000
CP GECC
08/31/98
5.530
50,000
PURCHASE sd
Treas
Note
5.635%
11 /30/99
11 /30/99
5.530
5.530
50,000
47,000
Treas
Note
Note
5.625%
5.625%
05/15/01
5.520
50,000
Treas
Treas
Note
5.625%
05/15/01
5.520
50,000
Treas
Note
5.625%
05�
Treas
Note
5.625%
0515/01
5.520
29,650
08131/98 REDEMPTION
CP
GECC
08/31/98
5.530
50,000
3
3
23,041.67
23,041.67
5.609
5.609
CP
GECC
08/31/98
08/31/98
5.53Q
5.530
50,000
50,000
3
23,041.67
5.609
CP
GECC
08/31/98
5.530
50,000
3
23,041.67
5.609
CP
GECC
08/31/98
5.530
50,000
3
23,041.67
5.609
CP
GECC
08/31 /98
5.530
50,000
3
23,041.67
5.609
CP
GECC
08/31/98
5.540
50,000
3
23,083.33
5.619
CP
Heller
08/31 /98
5.500
50,000
3
22,916.67
5.578
CP
Assoc
08/31/98
5.500
50,000
3
22,916.67
5.578
CP
Assoc
08/31 /98
5.500
50,000
3
22,916.67
5.578
CP
Assoc
08131 /98
5.500
50,000
3
22,916.67
5.578
CP
CD
Assoc
World
5.500%
08/31 /98
5.500
42,000
10
100,207.7 2
5.627
CD
World
5.530%
08/31/98
08/31/98
5.550
5.550
50,000
50,000
13
13
100,207.72
5.627
CD
World
World
5.530%
5.530%
08/31/98
5.550
50,000
13
100,207.72
5.627
CD
CD
World
5.530%
08/31/98
5.550
50,000
13
100,207.72
154,164.96
5.627
5.627
CD
World
5.530%
08/31/98
08/31/98
5.550
5.500
50,000
50,000
20
10
CP
Amer Exp
08/31 /98
5.500
50,000
10
76,388.89
5.584
CP
Amer Exp
4.750%
08/31/98
4.753
50,000
1806
11, 751,597.03
4.753
Treas
Note
Note
4.750%
08/31/98
4.753
50,000
1816
11,718,142.27
4.731
Treas
SALE .cl
Treas
Note
5.625%
11 /30/99
5.530
50,000
3
3
23,013.09
21,632.44 .
5.606
5.6
Treas
Note
5.625%
11 /30/99
05/15/01
5.530
5.520
47,000
50,000
3
23,271.40
5.60606
Treas
Note
5.625%
5.625%
05/15/01
5.520
50,0000
3
23, 271.40
5.596
Treas
Treas
Note
Note
5.625%
05/15/01
5.520
48,
3
22,457.20
13, 57
5.596
5.596
Treas
Note
5.625%
05/15/01
5.520
29,650
.0
—17—
08/31/98 PURCHASE
CP
Conagra
09/01/98
5.920
23,064
CP
Conagra
09/01/98
5.920
38,600
CP
GECC
09/01/98
5.870
50,000
CP
GECC
09/01/98
5.870
50,000
CP
GECC
09/01/98
5.870
50,000
CP
GECC
09/01/98
5.870
50,000
CP
GECC
09/01/98
5.870
50,000
CP
GECC
09/01/98
5.870
50,000
PURCHASE r/
Treas
Note
6.000%
08/15/99
5.850
150,000
Treas
Note
5.875%
08/31/99
5.850
50,000
Treas
Note
5.750%
09/03/99
5.850
50,000
Treas
Note
6.000%
10/15/99
5.850
37,625
Treas
Note
7.750%
11 /30/99
5.850
50,000
Treas
Note
5.875%
02/15/00
5.850
50,000
Treas
Note
6.750%
04/30/00
5.850
50,000
—18—
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 (EXMD,
Bankers Acceptances (BA), Commercial Paper (CP), Government
National Mortgage Association (GNMA), Federal Home Loan Bank
Notes (FHLB), 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.
—19—
MANE
ALHAMBRA
East West Bank
TIME DEPOSIT
DEPOSIT DATE
06/18/98
YIELD
.5.240
PAR AMOUNT (S) MATURITY
12,000,000.00
DATE
09/16/98
East West Bank
07/09/98
5.110
35,000,000.00
10/07/98
East West Bank
07/17/98
5.090
15,000,000.00
10/15/98
East West Bank
BEVERLY HILLS
08/11 /98
5.090
38,000,000.00
11 /12/98
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
City National Bank
05/05/98
5.290
10,000,000.00
11/02/98
City National Bank
05/15/98
5.380
15,000,000.00
11 /02/98
City National Bank
CHICO
07/29/98
5.230
10,000,000.00
01 /27/99
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
North State National Bank
04/07/98
5.220
2,000,000.00
10/06/98
Tri Counties Bank
04/16/98
5.230
10,000,000.00
10/15/98
Tri Counties Bank
06/16/98
5.140
10,000,000.00
09/10/98
Tri Counties Bank
07/24/98
5.100
10,000,000.00
10/29/98
North State National Bank
FRESNO
08/24/98
5.190
1,000,000.00
08/24/99
Kings River State Bank
07/15/98
5.070
1,000,000.00
10/13/98
United Security Bank
07/17/98
5.150
5,000,000.00
10/15/98
United Security Bank
Gi ENDA E
08/11/98
5.100
20,000,000.00
11/10/98
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
Glendale Federal Bank
INGLEWOOD
06/29/98
5.030
3,000,000.00
09/28/98
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
07/08/98
5.110
25,000,000.00
10/07/98
Imperial Bank
07/21/98
5.210
25,000,000.00
10/19/98
Imperial Bank
07/08/98
5.230
25,000,000.00
01/04/99
Imperial Bank
08/05/98
5.110
15,000,000.00
11/04/98
Imperial Bank
08/06/98
5.130
25,000,000.00
11/05/98
Imperial Bank
08/07/98
5.160
20,000,000.00
11/06/98
Imperial Bank
08/06/98
5.260
25,000,000.00
02/03/99
-20-
�NC�I EwOOD
Imperial Bank
08/11 /98
5.230
20,000,000.00
02/09/99
12/01 /97
5.480
28,000,000.00
11 /06198
General Bank
03/31 /98
5.220
15,000,000.00
10/01 9
General Bank
04/01 /98
5.240
3,000,000.00
09/28/98
Preferred Bank
Pomona First Federal S & L
06/11/98
5.450
10,000,000.00
9,000,000.00
09/10/98
09/17/98
Preferred Bank
06/18/98
06/23/98
5.120
5.200
9,000,000.00
09/23/98
Preferred Bank
06/18/98
5.130
15,000,000.00
09/24/98
General Bank
06/17/98
5.300
10,000,000.00
12/15/98
Community Bank
06/22/98
5.350
5,000,000.00
12/22/98
Community Bank
07/15/98
5.080
3,000,000.00
10/15/98
Preferred Bank
07/14/98
5.090
25,000,000.00
10/20/98
General Bank
07/08/98
5.130
10,000,000.00
10/21/98
General Bank
07/15/98
5.230
20,000,000.00
01/11/99
Community Bank
08/12/98
5.080
4,000,000.00
11 /20/98
Preferred Bank
08/25/98
5.080
2,000,000.00
11 /24/98
Preferred Bank
08/11 /98
5.200
15,000,000.00
02/08/99
Community Bank
PO_
Pomona First Federal Bank
05/27/98
5.550
8,000,000.00
11 /24/98
PETALU MA
Bank of Petaluma
08/11 /98
5.160
1,000,000.00
02/09/99
S GRAME IQ
River City Bank
04/13/98
5.250
5.340
5,000,000.00
7,000,000.00
10/14/98
11/03/98
Sanwa Bank of California
05/06/98
06/29/98
5.010
100,000,000.00
09/28/98
Union. Bank of California
07/30/98
5.080
50,000,000.00
10/29/98
Union Bank of California
07/20/98
5.270
5,000,000.00
01/20/99
River City Bank
Sanwa Bank of California
07/29/98
5.230
5,000,000.00
100,000,000.00
01/27/99
11/03/98
Union Bank of California
08/05/98
08/18/98
5.100
5.030
50,000,000.00
11/17/98
Union Bank of California
08/18l98
5.140
5,000,000.00
02/17/99
River City Bank
Sanwa Bank of California
08/17/98
5.170
50,000,000.00
10,000,000.00
02/1 /99
02/22/99
Sanwa Bank of California
08/24/98
5.110
—21—
San Diego First Bank
05/08/98
5.330
1,000,000.00
11 /05/98
San Diego First Bank
06/02/98
5.330
1,500,000.00
12/02/98
San Diego First Bank
SAN FRANCIS O
06/23/98
5.350
1,500,000.00
12/22/98
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
51000,000.00
01/21/99
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
Bank of Canton California
06/04/98
5.320
5,000,000.00
12/04/98
Bank of Canton California
06/09/98
5.410
5,000,000.00
03/05/99
Bank of the West
Bank of the West
06/08/98
5.440
25,000,000.00
06/08/99
Bank of the West
07/31/98
07/31/98
5.220
5.230
25,000,000.00
01/28/99
Bank of the West
07/13/98
5.350
26,500,000.00
25,000,000.00
01/28/99
07/13/99
Bank of the West
Bank of the West
08/19/98
5.040
37,000,000.00
11/18/98
Bank of Canton. California
08/25/98
08/04/98
5.500
5.220
25,000,000.00
11/24/98
Bank of the West
SAN_LEANDRO
08/26/98
5.110
5,000,000.00
27,000,000.00
02/04/99
02/24/99
Bay Bank of Commerce
04/08/98
5.230
2,000,000.00
10/07/98
Bay Bank of Commerce
Bay Bank of Commerce
06/17/98
5.130
14,000,000.00
09/15/98
SA"UIS OBISPO
07/09/98
5.120
2,000,000.00
10/07/98
First Bank of San Luis Obispo
First Bank of San Luis Obispo
06/11/98
07/08/98
5.170
1,000,000.00
09/10/98
First Bank of San Luis Obispo
08/12/98
5.140
5.040
1,000,000.00
10/06/98
First Bank of San Luis Obispo
08/04/98
5.290
2,000,000.00
11/12/98
First Bank of San Luis Obispo
08/25/98
5.010
3,600,000.00
2,500,000.00
11/20/98
SAN RAFAEL
11/24/98
West America Bank
West America Bank
07/16/98
5.150
25,000,000.00
10/14/98
West America Bank
07/24/98
07/30/98
5.090
25,000,000.00
10/22/98
West America Bank
08/10/98
5.090
5.030
25,000,000.00
10/29/98
SANMATEO
50,0009-000.00
11/09/98
Boreal Bank and Trust
06/30/98
5.180
95,000.00
10/01/98
-22-
NAME
SANTA ANA
Grand National Bank
TIME
DEPOSIT DATE
03/11/98
DEPOSIT
YIELD
5.250
PAR AMOUNT ($1 MATURITY
1,500,000.00
DATE
09/08/98
Grand National Bank
06/08/98
5.110
1,500,000.00
09/08/98
Grand National Bank
SANTA BARBARA
06/30/98
5.300
95,000.00
01/04/99
Santa Barbara Bank & Trust
06/15/98
5.150
5,000,000.00
09/15/98
Santa Barbara Bank & Trust
07/06/98
5.100
5,000,000.00
10/06/98
Santa Barbara Bank & Trust
07/10/98
5.090
10,000,000.00
10/08/98
Santa Barbara Bank & Trust
SANTA CRUZ
08/11 /98
5.040
5,000,000.00
11 /10/98
Coast Commercial Bank
06/19/98
5.230
15,000,000.00
09/17/98
SHASTA
North Valley Bank
STANISLAUS
03/24/98
5.280
3,000,000.00
09/22/98
Oak Valley Community Bank
06/25/98
5.100
500,000.00
09/24/98
Oak Valley Community Bank
06/29/98
5.100
500,000.00
09/24/98
Oak Valley Community Bank
08/07/98
5.110
500,000.00
11/06/98
Oak Valley Community Bank
TORRANCE
08/10/98
5.240
500,000.00
02/08/99
China Trust Bank (USA)
06/09/98
5.120
10,000,000.00
09/09/98
South Bay Bank
06/16/98
5.190
2,000,000.00
09/15/98
China Trust Bank (USA)
06/15/98
5.113
10,000,000.00
09/15/98
China Trust Bank (USA)
06/29/98
5.070
5,000,000.00
10/01/98
China Trust Bank (USA)
07/30/98
5.100
15,000,000.00
10/28/98
South Bay Bank
TUSTIN
07/20/98
5.310
1,000,000.00
01 /20/99
Sunwest Bank
03/31/98
5.220
500,000.00
10/01/98
Sunwest Bank
04/09/98
5.220
2,800,000.00
10/07/98
Sunwest Bank
07/20/98
5.260
1,000,000.00
01 /19/99
—23—
NAME
VICTORVILLE
Citizens Business Bank
Citizens Business Bank
Citizens Business Bank
Citizens Business Bank
Citizens Business Bank
Citizens Business Bank
Bank of the West
Bank of the West
Bank of the West
02/11 /98
02/11 /98
03/11 /98
06/09/98
07/09/98
08/06/98
04/01 /98
04/23/98
05/15/98
TOTAL TIME DEPOSITS AS OF AUGUST 31,1998
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
5.390
10,000,000.00
12/16/98
5.330
10,000,000.00
02/08/99
5.290
5,000,000.00
03/09/99
5.200
14,000,000.00
10/01 /98
5.260
25,000,000.00
10/20/98
5.450
10,000,000.00
05/13/99
$1,763,390,000.00
—24—
STAr,
G
g
CALIFORNIA
STATE
dG���U OF StA'�E rJO`�
KURT R. SJOBERG
STATE AUDITOR
UDITOR
MARLANNE P. EVASHENK
CHIEF DEPUTY STATE AUDITOR
Independent Auditors' Report
THE GOVERNOR AND THE LEGISLATURE OF THE
STATE OF CALIFORNIA
We have audited the general purpose financial statements of the State of California as of
and for the year ended June 30, 1997, as listed in the table of contents. These general
purpose financial statements are the responsibility of the States management. Our
responsibility is to express an opinion on these general purpose financial statements
based on our audit. We did not audit the financial statements of the pension trust funds,
which reflect total assets constituting 86 percent of the fiduciary funds. We also did not
audit the financial statements of certain enterprise funds, which reflect total assets n� d
revenues, constituting 89 percent and 90 percent, respectively, of the enterprise
s.
In addition, we did not audit the University of California funds. Finally, we did not audit
the financial statements of certain component unit authorities, which reflect total assets
and revenues, constituting 97 percent and 93 percent, respectively, of the component
unit authorities. The financial statements of the pension trust funds, certain enterprise
funds, the University of California funds, and certain component unit authorities referred
to above were audited by other auditors whose reports have been furnished to us, and
our opinion, insofar as it relates to the amounts included for these funds and entities is
based solely upon the reports of the other auditors.
We conducted our audit in accordance with government auditing standards issued by the
Comptroller General of the United States and generally accepted auditing standards.
Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the general purpose financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supportinga the
amounts and disclosures in the general purpose financial statements. A
includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall general purpose financial statement
presentation. We believe that our audit and the reports of the other auditors provide a
reasonable basis for our opinion.
In our opinion, based upon our audit and the reports of other auditors, the general
purpose financial statements as listed in the table of contents present fairly, in all material
respects, the financial position of the State of California as of June 30, 1997, and the
results of its operations and the cash flows of its proprietary funds and component unit
authorities for the year then ended, in conformity with generally accepted accounting
principles.
BUREAU OF STATE AUDITS
660 J Street, Suite 300, Sacramento, California 95814 Telephone: (916) 445-0255 Fax: (916) 327-0019
—27—
Notes to the Fftwidat S
NOTE 3. DEPOSITS AND
State statutes, bond resolutions, and investment policy resolutions
allow the primacy government to have investments in United States
government securities, certificates of deposit, bankers' acceptances.
commercial paper, corporate bonds, bank notes, mortgage loans
and notes, other debt securities, repurchase agreements, reverse
repurchase agreements. equity securities, real estate. mutual funds,
and other investments.
As of June 30, the State. including discretely presented component
units. had investments in securities lending agreements, real estate,
investment contracts, mutual funds, and other investments totaling
$48.4 billion. These I vestments are not subject to classi$cation. All
n�naining investments reported as of June 30. are categorized in
three categories of credit risk:
1. insured or registered, or securities held by the State or its
agent in the State's name.
2. Uninsured and iuu-egistered, with securities held by the
counterparty's trust department or by an agent in the State's
name.
3. Uninsured and unregistered. with securities held by the
counterparty or by its trust department or by an agent but
not in the State's name.
The types of investments reported at year end are representative of
the types of investments made during the year. Furthermore. the
credit risk associated with the investments reported at year end is
representative of the credit risk associated with investments made
during the year.
—28—
state of Ca -;forma.
The State Treasumes Office a im.inisters a pooled investment
program for the primary government and for certain special purpose
authorities. As of June 30, the special purpose authorities' cash and
pooled I I --1-ments wereappr odmately 3% of the State Treasurer's
Office pooled investment portfolio. This program enables the State
Treasurer's Office to combine available cash from all funds and to
invest cash that exceeds current needs. Enterprise funds. trust and
agency funds. and a building authority in the capital projects funds
also make separate investments.
As of June 30, the average T e irm lining life of the securities in the
pooled money . investment - account by the State
Treasurer's Officewas approximately 232 days.
The State Treasurer's Office also has agreements with certain banks
to maintain cash on deposit that does not earn interest income•
Income earned on these deposits compensates the banks for
services and uncleared checks that are deposited in the pooled
investment program's accounts.
All demand and time deposits. totaling approx<mately $664 million,
which were held by financial institutions as of June 30, were
Insured by federal depository insurance or by collateral held by the
State Treasurer's Office or by an agent of the State Treasurers
Office in the State's name. The California Government Code requires
collateral pledged for demand and time deposits to be deposited
with the State Treasurer.
As of June 30, the State Treasurer's Office had amounts on deposit
with fiscal agents totaling approxdmately $10 million. These deposits
are related to primary government invest<amt activities and to
principal and interest payments due to bondholders. These deposits
are insured by federal depository insurance or by collateral held by
an agent of the State Treasurers Office in the states name.
The investments of pension trust funds are reported at fair value.
investments of the Deferred Compensation Plan Fund, an agency
fund, are reported at market value. All other investments are
at cost or amortized cost For these investments, no loss is
recorded when market values decline below .cost, as such declines
are considered temporary.
As of June 30, floating rate notes and mortgage -backed assets
comprised less than 596 of the pool Invesiments. For the floating
r�� by the State
rate notes in the portfolio, the Interest
Treasurer's Office pooled investment program will rise or fall as the
underlying index rate rises or falls. The structure of the estment��g�m
rate
notes in the State Treasurer's Offi P� against the risk of
portfolio is such that it hedges the portfolio
inmwaing interest rates. The mortgage -backed securities wed
real estate mortgage investment conduits MEMI )
security backed by a pool of mortgages. The REWUCs in the State's
portfolio have a fixed principal pay.-nent schedule.
—29—
The California wivmrriuent C„de allows the State Treasurer's Office
to enter into reverse repurchase agreements, as part of its pooled
investment program. A reverse repurchase agreement is a sale of
securities with a simultaneous agreement to repurchase them in the
future at the same price plus a contract rate of interest The market
value of the securities underlying reverse repurchase agreements
normally exceeds the cash received, providing the dealers a margin
against a decline in market value of the securities. If the dealers
default on their obligations to resell these securities to the State
Treasurer's Office or provide securities or cash of equal value, the
State Treasurees Office pooled investment program will suffer an
economic loss equal to the difference between the market value plus
the accrued interest of the underlying securities and the agreement
obligation, including accrued interest During the year ended June
30, the State Treasurer's Office entered into 28 reverse repurchase
agreements by temporarily selling investments with a carrying value
Of approximately $4.4 billion. The maturities of investments made
with the proceeds from reverse repurchase agreements were
matched to the maturities of the agreements. As of June 30. the
State Treasurer's Office did not have any reverse repurchase
agreements outstanding.
State statutes -and agency policies permit Ca1PERS and SIRS to
lend its securities to broker -dealers and other entities with a
simultaneous agreement to return the collateral for the same
securities in the future. Third party securities lending agents have
been contracted to lend domestic and international equity and debt
securities. All securities loans can be terminated on demand by the
lender or the borrower. Collateral in the form of cash or other
securities is required at 102% and 105% of the fair value of
domestic and international securities loaned, respecttvely. As of
June 30. 1997, there was no credit risk of exposure to borrowers
because the amount of collateral held exceeded the amounts owed
to the borrowers. The cash received as collateral is invested in
accordance with investment guidelines. The weighted -average
maturity of all investments of the cash collateral was less than 90
days as -of June 30. Collateral securities received are not permitted
to be pledged or sold unless the borrower defaults. The contracts
with the security lending agents require them to indemnify Ca1PERS
and STRS if the borrowers fail to return the securities (or if the
collateral is not sufficient to replace the securities lent) or if the
borrower fails to pay for income distributions by the securities'
issuers while the securities are on loan.
In accordance with statutes authorizing Ca1PERS investments,
Ca1PERS, through its outside investment managers, holds
investments in futures and options and enters into forward foreign
currency exchange contracts. Futures and options of approximately
$92 million are held for investment purposes as 'of June 30, 1997.
Gains and losses on futures and options are determined based upon
quoted market values and recorded in the statement of changes in
net assets. Forward foreign currency exchange contracts are used
primarily to hedge against changes in exchange rates related to
39
—30—
State of CaUfomfa
foreign securities• As of June 30, 1997, CalPERS had approximately
$91 million net exposure to loss from forward foreign currency
exchange transactions related to the $26.9 billion international debt
and equity portfolios. CalPERS could be exposed to risk if the
counterparties to the contracts are unable to meet the terms of the
contracts. CalPERS investment managers seek to control this risk
through counterparty credit evaluations and approvals,
counterparly credit limits, and exposure monitoring procedures.
Ca1PERS antitpates that the counterparties will be able to satisfy
their obligations under the contracts.
Table 2 presents the carrying value and market value of the
investments that were reported by the primary government as of
June 30.
Table 2
Schedule of Investments - Primary Government
June 30,1997
(Amounts in thousands)
Pooled Investments '
U.S. Govemment
Deposits..»........... ............ .......... N N.... ...»N»N.»NN.
Commercial paper .... .......... ........ ... .......
»...NNNNN.
CorporatebY..YYNNNN...N.N..NN.N.NNNNNNN.NNNNMNN.
Bank.N.NNN.. N.NNNNN»..N...NNN..N.....NNNNNN.N.
Other..N....NN.N.»»...NN»....»NNN..N..N.»..N..NNNN.NN...
Total Pooled Investinen
Separately Invested Funds subject
to Categorization
US. Gouemrnent semirities.»N..NN.N..N».»»».NNNNN
Commercial . .....
Corporate bonds..NN..N...NN......
N.»NNN.......»..N»»N...
Mortgage loans..NN....N..N...N.......N»..NN.........NNN.N..
Debt securities - STRS..... N.......... »N............. NN..»N.
Equity
Securities lending collateral ......... ...... »»..... NNN......
Other invesbrterrts.NNNNNN.NNN»»»NN.»»..NNN.N»»...
Category
Carrying Market
Value Value
t 8.745.859 S
— $ — $ 8,745,859 S
8,745,635
6,832,540
— — 6AW.- 40
6,831,485
870.395
— — 870,395
871,718
6,782,756
— — 6,782,756
6.785.493
1.569.890
— — 109.8m
1,567,125
949,074
— — 949,074
948.889
29.495
29,40
29.40
25.T 0,009
— — 25.780.009
25,779,840
8,991,927 134,512
2,334,124 —
6.303,615 764
13,244,590
14,131,637
110,530,849
25,122,038
4,418,027
- 9,126,439
9.341,905
— 2,334,124
2.334,124
— 6,304,379
6,303,781
— 13,244,530
13,244,530
— 14.131,637
14,131,637
— 110.530,849
110,530,849
— 25.122,038
25,122.038
— 4,418,027
4,418,028
Total Separately Invested Funds Subject
To Categorization--- 185,076,747 135,276 — 185,212,023 185,426,892
Separately Invested Funds Not Subject
to Categorization
Real estate .NN».»NN»NN».......N»NNN.»....NN»».N..NNNNN.N»N»N 8,384,488 8,384,488
Venture capital and private equity ftatds.N»»»».N»N»N»N.NN»»».....NN....».....N....»»»N. 2,722,170 2.722,170
InvesMant contrects...N.N.:...N. »» »»..NN.N.».NN.....NN .N»N.........NN»..»N NNNNN. 2,045,877 2,045.877
MuWW iunds...NNN..NNN.NNNMNNN.NNNNNNN.NNMNNMN..NNNNN....NN.NNNM-NN....NN.NMN.N.NM.MNNNNMNN 1,758,886 1,760,248
Investments hell by broker -dealers under securities
bans with cash collateralN.NNNNN.»..NNN .»..»NNNNN.N24,378.763 24,378,763
Other..»»..»..»NN»...»»NNNN»..»»»...........NN....»».N....NN........»N.N.N.N....N N....N..»»NNNN.N»......N 1,393,270 1,393,270
Total Separately Invested Funds Not Subject
to Categorizatio 40,60AM 40,684,816
Total Investments-S 210,856,756 S 135,276 S — $ 251,675,486 S 251,891,548
40 Approftatey 3% of the pooled investments are kweatrnw is of special purpose authorites which are dim a ely presented component unRL
For special purpose authorities' separately unrested funds. no Table 4.
-31-