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1999 05 12 IAB=— a ,c QUA& F��� 78-495 CALLE TAMPICO — LA QUINTA, CALIFORNIA 92253 — (760) 777-7000 OF FAX (760) 777-7101 AGENDA TDD (760) 777-1227 INVESTMENT ADVISORY BOARD Study Session Room 78-495 Calle Tampico- La Quinta, CA 92253 May 12, 1999 - 5:30 P.M. I CALL TO ORDER a. Pledge of Allegiance b. Roll Call II 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 Special Meeting on March 30, 1999 for the Investment Advisory Board/City Council B. Approval of Minutes of Meeting on April 14, 1999 for the Investment Advisory Board. V BUSINESS SESSION B. Transmittal of Treasury Report for March, 1999 C. Continued Consideration of Fiscal Year 1999/00 Investment Policy VI CORRESPONDENCE AND WRITTEN MATERIAL A. Month End Cash Report - April, 1999 B. Pooled Money Investment Board Reports - February, 1999 VII BOARD MEMBER ITEMS VIII ADJOURNMENT MAILING ADDRESS - P.O. BOX 1504 - LA QUINTA, CALIFORNIA 92253 2 U S ti OF I°Nti0 INVESTMENT ADVISORY BOARD Business Session: A Meeting Date: May 12, 1999 ITEM TITLE: Transmittal of Treasury Report for March 31, 1999 BACKGROUND: Attached please find the Treasury Report for March 31, 1999. RECOMMENDATION: Review, Receive and File the Treasury Report for March 31, 1999. John `M. FalcbnOr, Finance Director TO: FROM: SUBJECT: DATE: MEMORANDUM La Quinta City Council John Falconer, Finance Director/Treasurer Treasurer's Report for March 31, 1999 May 3, 1999 Attached is the Treasurer's Report for the month ending March 31, 1999. This report is submitted to the City Council each month after a reconciliation of accounts is accomplished by the Finance Department. Cash and Investments: Increase of $1,558,561. due to the net effect of revenues in excess expenditures. State Pool: Decrease of $4,400,000. due to the net effect of transfers to and from the cash and investment accounts. U.S. Treasury Bills, Notes, Government Agency Securities and Commercial Paper: Increase of $4,103,578. due to the sale of one T-Note, the purchase of 2 T-Notes and monthly adjustment in the amortized value of the investments. Mutual Funds: Decrease of $1,620,399. due to debt service payments and interest earned. Total decrease in cash balances $358,260. I certify that this report accurately reflects all pooled investments and is in compliance with the California Government Code; and is in conformity with the City Investment policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the pools expenditure requirements for the next six months. The City of La Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and Bank of New York Monthly Custodian Report to determine the fair market value of investments at month end. Jghn M. Falconer d F nance Director/Treasurer 5--A- / I I - at O +� CX 8 d c, o, IZI c of ZI c o Zi c O Z I c 1 O IZ c o jZ c O Z c o IZ, x Lli o �q C•—� I p 8 0 ^I -OD 1 Ln aOn C i CJ c c0.' g c«V v v U U Po c O 0)w Wcn U. 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C C. c .. d 306 0 a m > N a) U C t rM o M CD> c.��� 'ELMC _ U m ai` now Lu )w000� z U w z 0 0 V R E c d E CA d C r- N LO O O CO) CM O cM 4 Ln M O N CO 1, O O N M O N O N 1` N O r, CA � coIt O O CD " N O N Ln ~ O co M O 00 CA co q'i N LO N r � O) a) co O Cli r cM Ln N V N O r Cfl CA Od' M O O O N O N M r- C'M O M co O (3 CD O M N N N LO C" Cn LO 00 CD ICD M I-- " c d d C 0 n a) 0 d E O CO Q O LL L'' Cn co U C ©■ CITY OF LA QUINTA CITY CITY RDA RDA FA BALANCE SHEET 03/31/99 FIXED LONG TERM FIXED LONG TERM FINANCING LONG TERM GRAND CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL ASSETS: POOLED CASH 6,506,114.33 6,978,087.61 (8,408.98) 13,475,792.96 LQRP INVESTMENT IN POOLED CASH 680,000.00 680,000.00 INVESTMENT T-BILL/NOTES & OTHER 22,000,000.00 22,000,000.00 LQRP CASH 22,824.94 22,824.94 BOND REDEMPTION CASH 14,663.63 217,397.50 232,061.13 BOND RESERVE CASH BOND PROJECT CASH 15,125,395.77 581,492.43 15,706,888.20 BOND ESCROW CASH PETTY CASH 1,000.00 1,000.00 CASH & INVESTMENT TOTAL 28,507,114.33 22,820,971.95 790,480.95 52,118,567.23 INVESTMENT IN LAND HELD FOR RESALE ACCOUNTS RECEIVABLE 55,381.12 PREMIUM/DISCOUNT ON INVESTMENT (130,584.25) LQRP-ACCOUNTS RECEIVABLE INTEREST RECEIVABLE 98,803.59 LOAN/NOTES RECEIVABLE 15,197.79 DUE FROM OTHER AGENCIES DUE FROM OTHER GOVERNMENTS DUE FROM OTHER FUNDS 13,025.86 DUE FROM RDA 6,890,277.20 INTEREST ADVANCE -DUE FROM RDA 879,905.23 NSF CHECKS RECEIVABLE 1,850.63 ACCRUED REVENUE TRAVEL ADVANCES 4,200.00 EMPLOYEE ADVANCES PREPAID EXPENSES 81,257.68 78,182.57 35,521.02 142,955.80 2,528,967.76 551,038.04 833.40 8,260,000.00 1,546.00 8,396,638.80 (50,855.68) 35,521.02 241,759.39 2,544,165.55 564,063.90 6,890,277.20 879,905.23 1,850.63 833.40 4,200.00 RECEIVABLE TOTAL 7,828,057.17 3,418,756.27 8,261,546.00 19,508,359.44 WORKER COMPENSATION DEPOSIT 37,637.00 37,637.00 RENT DEPOSITS UTILITY DEPOSITS 75.00 75.00 MISC. DEPOSITS 2,100.00 2,100.00 DEPOSITS TOTAL 39,812.00 39,812.00 GENERAL FIXED ASSETS 1,098,865.00 15,008,708.00 11,438,745.05 27,546,318.05 ACCUMULATED DEPRECIATION (706,260.64) (706,260.64) AMOUNT AVAILABLE TO RETIRE LIT DEBT 3,395,117.03 3,395,117.03 AMOUNT TO BE PROVIDED FOR UT DEBT 1,944,070.34 96,259,807.26 8,260,000.00 106,463,877.60 TOTAL OTHER ASSETS 392,604.36 15,008,708.00 1,944,070.34 11,438,745.05 99,654,924.29 8,260,000.00 136,699,052.04 TOTAL ASSETS 36 767 587.86 15,008,708.00 1,944,070.34 26 239 728.22 11 438 745.05 99 654 924.29 9,052,026.95 8,260,000.00 208 365 790.71 LIABILITY ACCOUNTS PAYABLE 1,115,400.86 DUE TO OTHER AGENCIES 655,996.60 DUE TO OTHER FUNDS (637.54) INTEREST ADVANCE -DUE TO CITY ACCRUED EXPENSES PAYROLL LIABILITIES (2,725.54) STRONG MOTION INSTRUMENTS 5,805.34 FRINGE TOED LIZARD FEES 30,360.00 SUSPENSE (1,200.00) DUE TO THE CITY OF LA QUINTA 22,139.53 50,804.66 551,038.04 216,893.42 1,405,238.47 655,996.60 13,663.40 564,063.90 (2,725.54) 5,805.34 30,360.00 (1,200.00) PAYABLES TOTAL 1,802,999.72 22,139.53 601,842.70 230,556.82 2,657,538.77 ENGINEERING TRUST DEPOSITS 58,224.09 58,224.09 SO. COAST AIR QUALITY DEPOSITS ARTS IN PUBLIC PLACES DEPOSITS 441,459.31 441,459.31 LQRP DEPOSITS 15,386.99 15,386.99 DEVELOPER DEPOSITS 880,522.42 880,522.42 MISC. DEPOSITS 153,535.30 153,535.30 AGENCY FUND DEPOSITS 1,211,915.13 1,211,915.13 TOTAL DEPOSITS 2,745,656.25 15,386.99 2,761,043.24 DEFERRED REVENUE 14,229.79 8,260,000.00 8,274,229.79 OTHER LIABILITIES TOTAL 14,229.79 8,260,000.00 8,274,229.79 COMPENSATED ABSENCES PAYABLE 313,619.81 313,619.81 DUE TO THE CITY OF LA QUINTA 1,608,311.00 9,570,183.64 11,178,494.64 DUE TO COUNTY OF RIVERSIDE 12,601,591.90 12,601,591.90 DUE TO C.V. UNIFIED SCHOOL DIST. 10,068,148.75 10,068,148.75 DUE TO DESERT SANDS SCHOOL DIST. BONDS PAYABLE 67,415,000.00 8,260,000.00 75,675,000.00 TOTAL LONG TERM DEBT 1,921,930.81 99,654,924.29 8,260,000.00 109,836,855.10 TOTAL LIABILITY 4,562,885.76 1,944,070.34 617,229.69 99,654,924.29 8,490,556.82 8,260,000.00 123,529,666.90 EQUITY•FUND BALANCE TOTAL LIABILITY & EQUITY 32,204,702.10 15,008,708.00 25,622,498.53 11,438,745.05 561,470.13 84,836,123.81 36,767,587.86 15,008,708.00 1,944,070.34 26 239 728.22 11 438 745.05 99 654 924.29 9,052,026.95 8,260,000.00 208 365 790.71 � 2 V S CFI OF i'Nti0 INVESTMENT ADVISORY BOARD Business Session No. B Meeting Date: May 12, 1999 TITLE: Continued Consideration of Fiscal Year 1999/00 Investment Policies BACKGROUND: Pursuant to State Legislation the City investment policies must be approved on an annual basis by the City Council. This approval is done in June of each year. At the April Board Meeting staff received and reviewed comments from the Board that have been incorporated into the attached draft for Fiscal Year 1999/00 Investment Policies which have been attached to the minutes. In addition, the following comments pertaining to Board functions have been attached pursuant to direction at the April Board meeting by Board Member Moulin. RECOMMENDATION: Continued review of the Investment policies for approval by City Council in June 1999. n M. Falconer, Finance Director SUGGESTED REVISION OF CITY ORDINANCE HWESTMEN T ADVISORY BOARD FUNCTIONS Short Version 2.70.030 Board functions. A. The principal functions of the Board are: (1) review at�least annually the City's Investment Policy and recommend appropriate changes; (2) review monthly Treasury Report and note compliance with the Investment Policy and adequacy of cash and investments for anticipated obligations; (3) receive and consider other reports provided by the City Treasurer; (4) meet with the independent auditor after completion of the annual audit of the City's financial statements, and receive and consider the auditor's comments on auditing procedures, internal controls, and findings for cash and investment activities; and (5) serve as a resource for the City Treasurer on proposed investments, internal controls, use or change of financial institutions, custodians, brokers and dealers, and other matters. Long Version 2.70.030 Board functions. A. The principal functions of the Board are: (1) Review annually the City's Investment Policy and recommend appropriate changes to the City Treasurer. Meet with City Manager, City Attorney and City Treasurer to discuss the proposed Investment Policy for the next fiscal year before submission to the City Council for their consideration and adoption. Consider possible interim changes to the Investment Policy that may be necessary due to changing conditions. (2) Review the monthly Treasury Report and determine that the report indicates that cash and investment activities comply with the City's Investment Policy and that cash and investment sources appear sufficient to meet anticipated cash obligations. (3) Receive and consider other reports provided by the City Treasurer, including the monthly City Treasurer's Month End Cash Report and the State Treasurer's Pooled Money Investment Report. (4) Meet with the independent auditor after the completion of the annual audit of the City's financial statements. Receive and consider the independent auditor's comments on the auditing procedures performed and on the auditor's review of internal controls for cash and investment activities. Receive and consider the City Treasurer's response to any weaknesses or suggestions for improvement to the controls over cash and investment activities mentioned by the independent auditor. (5) Serve as a resource for the City Treasurer on proposed investments, the workplan and budget for the fiscal year, the Treasurer's Investment Plan, internal controls for cash and investment activities, the written procedures for the operation of the investment program, the use or change of financial institutions, custodians, brokers and dealers, and other matters. DJM 4/16/99 INVESTMENT ADVISORY BOARD FUNCTIONS April 1999 Investment Policy -- Review annually the City's Investment Policy and recommend appropriate changes to the City Treasurer. Meet with City Manager, City Attorney and City Treasurer to discuss the proposed Investment Policy for the next fiscal year before submission to the City Council for their consideration and adoption. Consider possible interim changes to the Investment Policy that may be necessary due to changing conditions. Treasury Report -- Review the monthly Treasury Report and determine that the report indicates that cash and investment activities comply with the City's Investment Policy and that cash and investment sources appear sufficient to meet anticipated cash obligations. Other Reports -- Receive and consider other reports provided by the City Treasurer, including the monthly City Treasurer's Month End Cash Report and the State Treasurer's Pooled Money Investment Report. Independent Auditor -- Meet with the independent auditor after the completion of the annual audit of the City's financial statements. Receive and consider the independent auditor's comments on the auditing procedures performed and on the auditor's review of internal controls for cash and investment activities. Receive and consider the City Treasurer's response to any weaknesses or suggestions for improvement to the controls over cash and investment activities mentioned by the independent auditor. Resource -- Serve as a resource for the City Treasurer on proposed investments, the workplan and budget for the fiscal year, the Treasurer's Investment Plan, internal controls for cash and investment activities, the written procedures for the operation of the investment program, the use or change of financial institutions, custodians, brokers and dealers, and other matters. DJM 4/16/99 � T Off' �iQ' � OZ l F yF 411�II��.IC OF TNti INVESTMENT ADVISORY BOARD Correspondence & Written Material Item A Meeting Date: May 12, 1999 TITLE: Month End Cash Report - April 1999 BACKGROUND: This cash report is not a complete Treasury Report (exclude petty cash, deferred compensation and fiscal agent balances, ) but would report in a timely fashion selected cash balances. RECOMMENDATION: Information item only. John M. Falconer, Finance Director a) O C O O LL N a) i O Q O co � C N (o 0U� J W 0 4-- O (M O ` U m Q ti ti 00 N N _ 03 Oj oo O N O M O 0 0 r M O O O O N O ti ti O N N N o N O «• O , C) 0 0 0 0. C) O � p 0 M O O 0)�- p O C) O W N N C) O 00 (o M M M O M O CC) LO N O N O T- N CO (D N N c} L M tf) 00 Ln M ` M M M m M (0 ('M (O M O O N f� to ti a)Ci 0') 0) O O N � T- 0) E r--� ti o) v OOONO�U) ti a) c~D U) > C I� ti ti (M � ONO O (fl N N N N N O O O O O Q W N N N N N CC) Q 0) O O 0)r.-00 N ~ � c O M O M M It �t � � � LO CY) a) � IT 'I C 06 OD 00 O M LO o Co W �0 0 O O O O (M O O N j N N N N O M Q M O O LL 'F C) C)cn �t : — O O o o 0 0 _ LO L � � 2) ,t LO O O ll� O IT O �T (oGi LL o 3 N 00 — (n (D ti O O O O O O LL O a) O O O N LO 0) 04 0) v O N 0) N `-' Cr) N r- N I co 7 (�19T Cl) L M_ (DY O O O L M � ti -0 ti U (D N O O N 0D (O L a)00 N Q 4- 07 Iq M C C N ccw*(D gyp U W �' U cn C m (n c (ca O m0 (r) (Ca N c to m m cm m �. N C 0)2 O a) F- L cc cn m 0 LL •0 (D Z, _0 a) tE U CL � m� � cm C m > c m co E cc cn U' U .0 —_ N (D a L "a C "O '0 d 0 "O :_� C C• O 0 (0 O 0 > L > N 4) om N ((S 0(Aa� W Q a Q 0 W -�U- << =a An L � ~�Q N C mO C 0) -0NOf _A -CU D.` Q E C m O N 0) C 0 L ` N O (o LO Q Q- 0) _0 a)0) -� U) > NN(D >-00— ~ OC "O cn.c Q _c 0) coo m 0) (o -0 N N �• L LL =3 0) +r EC>_ 02'0 C U cn cnEUrn • co O O O > (DCDIt- CL.rLP (D a0 U �w 0 0 E 2 f0 0 0 If N 00 0 0 cn w w U U) (D cu 0 c OQ'-0 m oa) r (DQ- 0a) a) Q � < � 4- Q% L N NL Q0 (D ♦/ L Cl) cc ~N (0�cn0 L� -CE �N > C >+U (v� (o cn a) •— rn Q E O OOQC N O— 0--Fa CU OCU C L C a)— E +. O Qom+ N i� co U- L C r- u) E o U-- co c E CU C L 0 N c L Cl) > ( 0(D coNO ENO 3E�o NO -0 >, V � r L L(p _ON r E O (D O C C 0� ` y L `� +-'00 cOnU� L N cam O C RS O -0 cn �C: cn � m QLL O - w co CL N N 0) a) Q 'U co=O"" 0cn E ENO 0 0 (o .r- C L C-) a) cn=�E ccVON Cx ON E O rnn` cuOL �' -0 N a) v aa)) C "J p'OU�, Q a) coc -0 0 O C) ` ,0 QovL- N��� QC XC 0Co �Ea) mL0E C U >+' X 3� U0 �� cn �-0 �� cn " O co EQ `' ON M(D O•-N _ 2 C:cca ++ �c U 0) aEo N �. QN C O O co (O 00 00C U- F- - F- 0 U) n � oz U S A _ %po OF TN�� INVESTMENT ADVISORY BOARD Meeting Date: TITLE: May 12, 1999 Pooled Money Investment Board Report for February 1999 BACKGROUND: Correspondence & Written Material Item B The Pooled Money Investment Board Report for February, 1999 is included in the agenda packet. RECOMMENDATION: Receive & File John] M. Falcoher, /Finance Director STATE OF CALIFORNIA STATE TREASURER'S OFFICE POOLED MONEY Hi' EVESTMENT BOARD REPORT FEBRUARY 1999 Table of Contents SUMMARY............N..........................N...N........................N....»....».N.N...NN.NN.»»1 SELECTED INVESTMENT DATA ...... ........................... ................N»...».........2 PORTFOLIOCOMPOSITION.................................................... ..»...»....N....N.3 INVESTMENT TRANSACTIONS .N........N................ N......... ......N...... ....»N..NN4 TIMEDEPOSITS..............................................................................................16 DEMANDBANK DEPOSITS ....................... ............ »................ ............. N.....N21 POOLED MONEY INVESTMENT BOARD DESIGNATION ......NN..»..N...22 POOLED MONEY INVESTAffM ACCOUNT SUMMARY OF INVESTMENT DATA A COMPARISON OF FEBRUARY 1999 WITH FEBRUARY 1998 (Dollars in Thonsands) 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 $35,739,579 $31,140,429 + $4,599,150 $142,842 $136,647 + $6,195 5.210 5.720 - .51F 198 207 - 9 $15,332,185 $28,614,910 - $1392823,725 339 633 - 2% $1,329,200 $806,200 + $523,000 67 47 + 20 $9253,632 $1,634,506 - $708,874 $222,813 $230,513 - $7,700 " $163,009 $160,258 + $2,751 510 PHILIP ANGELIDES STATE TREASURER STATE OF CALIFORNIA INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) Change in February 28,1999 Percent From Tvne of Security Amount Percent Previous Month Governments Bills $392191,653 9A2 + .0.1 Bonds 0 0 0 Notes 4,3769989 12.81 - .17 Strips 0 0 0 Total Governments $79596,642 22.23 - .16 Federal Agency Coupons $394039187 9.% + 1.56 Certificates of Deposit 496549150 13.62 - 1.19 Bank Notes 192199090 3.56 - 138 Bankers Acceptances 779146 .22 + .01 Repurchases 0 0 0 Federal Agency Discount Notes 4,324,916 12.66 + 3.78 Time Deposits 290079640 5.88 + A3 GNMA's 19895 .01 0 Commercial Paper 799789740 2335 - 339_ FHLMC 18,342 .05 0 Corporate Bonds 198109357 530 + .88 Pooled Loans 290869134 6.10 + 33 GF Loans 0 0 0 Reversed Repurchases -19006,437 -2.94 + .87 Total, All Types $3491709802 100 INVESTMENT ACTIVITY February 19" January 19" Number Amount Number _Amount Pooled Money 339 S 1593329185 328 $ 14,6569462 Other 12 $ 419468 5 $ 59122 Time Deposits 67 $ 1,329,200 88 $ 1,3589290 TOTALS 418 $ 16,7029853 421 $ 169019,874 PMIA Monthly Average Effective Yield 5.210 5.265 Year to Date Yield for Last Day of Month 5A74 5513 —2— r Commercial Paper 23.35% Banke Acceptar 0.22° Pooled Money Investment Account 02/28/99 Portfolio Composition $34.2 Billion Loans Reverses Corporate 6.10 % 2.94% CD's/BN's .17.18% suries 23% Time Deposits 5.88% Mortgages 0.06% M 6 C Treasuries © Time Deposits ■ Mortgages M Agencies ■ CD's/BN's ■ Bank Acceptances ■ Repurchases M Commercial Paper ® Corporate Bonds 13 Loans M Reverses -3- 02/01199 REDEMPTION CID Heller MTN GMAC PURCHASE Disc Note FHLB Disc Note FHLB Disc Note FNMA Disc Note FNMA Disc Note FNMA 02/02199. SALE Treas Bill Treas Bill REDEMPTION FFCB FFCB FFCB PURCHASE Disc Note FHLB Disc Note FHLB 02/03/99 RRS Treas Note Treas Note REDEMPTION CID FMCC CID FMCC CID Amer Exp CID Amer Exp CID Amer Exp CID Amer Exp CID Lehman CID Lehman CID Lehman PURCHASE g/ Disc Note FHLB Disc Note FHLB 02/01/99 4.930 $50,000 7 5.625% 02/01/99 6.010 16,000 783 01/27/00 4.580 19,000 01 /27/00 4.580 50,000 01 /25/00 4.570 35,000 01 /25100 4.570 50,000 01/25/00 4.570 50,000 47,930.56 5.003 2,050,860.00 6.021 04/29/99 4.385 50,000 274 2,038,736.11 5.725 04/29/99 4.385 50,000 274 2,038,736.11 5.725 5.300% 02/02/99 5.450 . 50,000 365 2,722,000.00 5.451 5.300% 02/02/99 5.450 50,000 ' '. ^ 365 2,722,000.00 5.451 5.300% 02/02/99 5.450 50,000 365 2,722,000.00 5.451 01/28/00 4.580 50,000 01 /28/00 4.580 50,000 4.625% 11 /30/00 4.300 50,000 4.625% 11 /30/00 4.300 50,000 02/03/99 4.830 50,000 6 40,250.00 4.901 02/03/99 4.830 50,000 6 40,250.00 4.901 02/03/99 4.830 50,000 6 40,250.00 4.901 02/03/99 4.830 50,000 6 40,250.00 4.901 02/03/99 4.830 50,000 6 40,250.00 4.901 02/03/99 4.830 50,000 6 40,250.00 4.901 02/03/99 4.950 50,000 6 41,250.00 5.022 02/03/99 4.950 50,000 6 41,250.00 5.022 02/03/99 4.950 50,000 6 41,250.00 5.022 03/03/99 4.660 50,000 03/03/99 4.660 50,000 —4— 02/04/99 SALE y/ CD BNParis 5.420% 02/04/99 5.410 50,000 44 i 330,615.12 5.485 CD BNParis 5.420% 02/04/99 5.410 50,000 44 330,615.12 5.485 CP FMCC 02/04/99 5.231-- 50,000 64 464,977.78 5.353 CP FMCC 02/04/99 5.231 50,000 64 464,977.78 5.353 CP FMCC 02/04/99 5.231 50,000 64 464,977.78 5.353 CP FMCC 02/04/99 5.231 50,000 64 464,977.78 5.353 REDEMPTION CD BNParis 5.660% 02/04/99 5.630 25,000 181 708,088.50 5.710 Treas Bill 02/04/99 5.155 50,000 344 50,000.00 5.497 Treas Bill 02/04/99 5.090 50,000 345 50,000.00 5.425 Trees Bill 02/04/99 5.040 50,000 346 50,000.00 5.370 Treas Bill 02/04/99 5.040 50,000 346 50,000.00 5.370 Treas Bill 02/04/99 5.090 50,000 345 50,000.00 5.425 Treas Bill 02/04/99 5.090 50,000 345 50,000.00 5.425 RRP Treas Bill 02/04/99 4.425 50,000 64 (390,265.33) -4 486 PURCHASE BN NationsBk 4.970% 02/04/00 5.000 50,000 BN NationsBk 4.970% 02/04/00 5.000 50,000 FNMA 4.800% 02/04/00 4.880 50,000 FNMA 4.800% 02/04/00 4.880 50,000 MTN (FR) Citicorp 5.309% 09/16/02 4.969 25,000 CD U/B Calif 4.900% 08/03/99 4.900 50,000 CD U/B Calif 4.900% 08/03/99 4.900 50,000 CD UBS 4.900% 08/03/99 4.895 50,000 CD UBS 4.900% 08/03/99 4.895 50,000 CP GECC 02/05/99 4.620 30,000 CP GECC 02/05/99 4.620 50,000 Treas Bill 02/03/00 4.410 50,000 Treas Bill 02/03/00 4.410 50,000 02/05/99 RRS Treas Bill 01/06/00 4.360 50,000 Treas Bill 01/06/00 4.360 50,000 SALE y/ Disc Note FHLB 02/05/99 4.790 20,000 24 63,866.67 4.872 Disc Note FHLB 02/05/99 4.790 50,000 24 159,666.66 4.872 —5- 02/05/99 REDEMPTION CID GECC 02/05/99 4.620 30,000 1 3,850.00 4.684 CP GECC 02/05/99 4.602 50,000 1 6,416.67 4.684 CID Country 02/05/99 4.890 10,199 8 11,082.91 4.963 CID Enron 02/05/99 4.900 35,000 9 42,875.00 4.974 CID Conagra 02/05199 4.920 18,484 16 40,418.35 4.999 CID Conagra 02/05/99 5.920 22,388 65 239,302.84 6.067 CID Country 02/05/99 5.300 35,000 65 334,930.56 5.425 RRP Treas Bill 01 /06/00 4.500 20,000 24 (57,401.52) -4.562 Treas Bill 01 /06/00 4.500 50,000 24 (143,503.80) -4.562 PURCHASE y/ Disc Note FNMA 03/04/99 4.680 50,000 Disc Note FNMA 03/04/99 4.680 50,000 PURCHASE MTN IBM 5.180% 02/05/01 5.180 50,000 CID Assoc 02/08/99 4.700 10,000 _ CID Bear 02/08/99 4.750 50,000 CID Bear 02/08/99 4.750 50,000 CID Bear 02/08/99 4.750 50,000 02/08/99 RRS Treas Bill 04/29/99 4.430 50,000 Treas Bill 04/29/99 4.430 50,000 Treas Bill 04/29/99 4.430 50,000 Treas Bill 04/29/99 4.4.30 50,000 REDEMPTION CID Bear 02/08/99 4.750 50,000 3 _. 19,791.67 4.817 CID Bear 02/08/99 4.750 50,000 3 19,791.67 4.817 CID Bear 02/08/99 4.750 50,000 3 19,791.67 ,< 4.817 CID Assoc 02/08/99 4.700 10,000 3 3,916.67 4.767 CID Heller 02/08/99 5.000 50,000 12 83,333.33 5.077 CID W/F 02/08/99 4.820 50,000 19 127,194.44 4.899 CID W/F 02/08/99 4.820 50,000 19 127,194.44 4.899 CID Household 02/08/99 4.830 15,000 19 38,237.50 4.909 CID Household 02/08/99 4.830 50,000 19 127,458.33 4.909 CID Conagra 02/08/99 4.940 18,500 19 48,233.61 5.021 CID Conagra 02/08/99 4.940 50,000 19 130,361.11 5.021 CID SRAC 02/08/99 4.980 50,000 115 795,416.67 5.130 CID Amer Exp 02/08/99 5.250 50,000 140 1,020,833.33 5.433 CID Amer Exp 02/08/99 5.250 50,000 140 1,020,833.33 5.433 —6— 02108M REDEMPTION CP Amer Exp 02/08/99 5.250 50,000 140 i 1,020,833.33 5.433 PURCHASE y/ Disc Note FHLMC 04/29/99 4.680 50,000 Disc Note FHLMC 04/29/99 4.680 50,000 Disc Note FHLMC 04/29/99 4.680 50,000 Disc Note FHLMC 04/29/99 4.680 50,000 PURCHASE CD UBS 5.650% 07/26/99 4.920 38,500 CD BV Hypo 4.920% 08/09/99 4.915 50,000 CP Enron 02/17/99 4.900 50,000 CP Lehman 02/17/99 4.900 50,000 CP Lehman 02/17/99 4.900 50,000 CP Lehman 02/17/99 4.900 50,000 CP Heller 04/01 /99 4.930 50,000 CP Heller 04/02/99 4.930 50,000 CP GMAC 04/05/99 4.810 15,000, CP GMAC 04/05/99 4.810 50,000 02/09/99 REDEMPTION CP Assoc 02/09/99 5.000 50,000 116 805,555.56 5.152 CP Assoc 02/09/99 5.000 50,000 116 805,555.56 5.152 CP Assoc 02/09/99 5.000 50,000 116 805,555.56 5.152 CP Assoc 02/09/99 5.000 50,000 116 806.555.66 5.152 CD Montreal 5.300°% 02/09/99 5.300 50,000 92 677,22222 5.373 PURCHASE MTN (FR) B/A 5.133% 02/11 /02 5.133 50,000 CP Conagra 04/01 /99 5.000 19,060 CP Household 04/01 /99 4.810 30,000 CP Household 04/01 /99 4.810 50,000 CP W/F 04/08/99 4.820 10,000 CP W/F 04/08/09 4.820 50,000 02/10/99 RRS Treas Bill 01/06/00 4.000 20,000 Treas Bill 01/06/00 4.000 50,000 —7— 02/10/99 REDEMPTION BN Fst Chic 5.310% 02/10/99 5.310 50,000 148 50,000.00 5.383 BN Fst Chic 5.310% 02/10/99 5.310 50,000 148 50,000.00 5.383 CD Montreal 5.300% 02/10/99 5.300 50,000 93 684,583.33 5.373 CP GMAC 02/10/99 4.840 50,000 12 80,666.67 4.915 CP GMAC 02/10/99 4.840 50,000 12 80,666.67 4.915 CP SRAC 02/10/99- 4.900 50,000 14 95,277.78 4.977 CP Household 02/10/99 4.830 50,000 21 140,87.9910 CP Hertz 02/10/99 4.950 50,000 111 763,125•00 596 CP GMAC 02/10/99 4.950 50,000 117 804,375.00 5.100 CP GMAC 02/10/99 4.950 50,000 117 804,375.00 - . 5.100 CP Assoc 02/10/99 5.200 35,000 142 717,888.89 5.382 CP Assoc 02/10/99 5.200 50,000 142 1,025,555.56 5.382 PURCHASE 9/ Disc Note FNMA 03/15/99 4.730 20,000 Disc Note FNMA 03/15/99 4.730 50,000 r PURCHASE MTN Assoc 5.250% 03/30/00 5.113 27,000 CP Hertz 03/29/99 4.810 50,000 CP W/F 03/29/99 4.800 50,000 CP W/F 03/29/99 4.800 50,000 CP W/F 03/31 /99 4.800 5,000 CP W/F 03/31 /99 4.800 50,000 02/11/99 SALE 9/ ' Disc Note FHLMC 02/11/99 4.690 50,000 21 136,791.67 4.768 Disc Note FHLMC 02/11/99 4.690 50,000 21 136,791.67 4.768 REDEMPTION CP GMAC 02/11/99 4.950 50,000 118 811,250.00 5.101 CP GMAC 02/11/99 4.950 50,000 118 811,250.00 5.101 CP Amer Exp 02/11/99 5.250 50,000 146 1,064,583.33 5.438 CP Amer Exp 02/11/99 5.250 50,000 146 1,064,583.33 5.438 RRP . Treas Note 4.625% 11/30/00 4.330 50,000 21 (126,923.12) -4.390 Treas Note 4.625% 11/30/00 4.330 50,000 21 (126,923.12) -4.390 —8— 02/11/99 PURCHASE CP Conagra CP GECC CP GECC CP GMAC CP GMAC 02/13/99 REDEMPTION MTN 'Chase 02/16199 SALE Treas Bill Treas Bill PURCHASE FHLMC FHLMC 02/17/99 SALE Treas Bill Treas Bill CP Lehman CP Lehman CP Lehman CP Enron CP GMAC CP GMAC CP Hertz CP GECC CP GECC CP GECC PURCHASE FHLB FHLB 02/18/99 RRS Treas Bill Treas Bill 04/01 /99 4.980 25,000 04/01/99 4.830 25,000 04/01 /99 4.830 50,000 04/08/99 4.820 50,000 04/08/99 4.820 50,000 8.650% 02/13/99 6.000 9,475 486 771,101.82 6.000 04/29/99 4.415 50,000 270 2,014,250.00 5.727 04/29/99 4.415 50,000 270 441,500.00 5.727 5.000% 02/15/01 5.056 50,000 5.000% 02/15/01 5.056 50,000 04/29/99 4.420 50,000 289 435,861.00 5.661 04/29/99 4.420 50,000 279 435,861.00 5.722 02/17/99 4.900 50,000 9 61,250.00 4.974 02/17/99 4.900 50,000 9 61,250.00 .4.974 02/17/99 4.900 50,000 9 61,250.00 4.974 02/17/99 4.900 50,000 9 61,250.00 4.974 02/17/99 4.840 50,000 19 127,722.22 .4.919 02/17/99 4.840 50,000 19 127,722.22 4.919- 02/17/99 5.050 50,000 119 834,652.78 5.207 02/17/99 5.130 25,000 146 520,125.00 5.311 02/17/99 5.220 50,000 153 1,109,250.00 5.412 02/17/99 5.220 50,000 153 1,109,250.00 5.412 4.950% 02/17/00 5.000 50,000 4.950% 02/17/00 5.000 50,000 02/03/00 4.125 50,000 02/03/00 4.125 50,000 —9— 02/18/99 PURCHASE g/ Disc Note FHLB Disc Note FHLB 02/19/99 REDEMPTION FNMA FNMA PURCHASE CP Heller CP GMAC CP GMAC CP SRAC CP Bear CP FMCC CP FMCC CP FMCC CP GECC CP GECC 02/22/99 NO REDEMPTION PURCHASE CP Lehman CP Lehman CP Lehman CP GMAC CP GMAC CP Conagra 02/23199 SALE Treas Bill Treas Bill PURCHASE Disc Note FNMA Disc Note FNMA 03/04/99 4.700 44,450 03/04/99 4.700 50,000 5.360% 02/19/99 5.460 25,000 365 5.360% 02/19/99 5.455 50,000 365 03/25/99 4.950 50,000 03/31/99 4.810 50,000 03/31/99 4.810 50,000 03/31/99 4.800 50,000 04/05/99 4.831 40,000 04/08/99 4.830 40,000 04/08/99 4.830 50,000 04/08/99 4.830 50,000 05/26/99 4.820 50,000 05/26/99 4.820 50,000 03/01 /99 4.850 15,000 03/01/99 4.850 50,000 03/01 /99 4.850 50,000 03/03/99 4.830 50,000 03/03/99 4.830 50,000 03/08/99 4.920 36,533 04/29/99 4.485 17,000 295 04/29/99 4.485 35,000 285 02/17/00 4.730 4,000 02/17/00 4.730 50,000 1,364,025.00 5.461 2,725,650.00 5.456 733,585.41 5.627 1,470,704.85 5.665 —10- 02/24/99 NO REDEMPTIONS PURCHASE MTN IBM 5.125% 02/12/01 5.380 6,750 MTN IBM 5.080°% 04/03/00 5.130 50,000 Disc Note FNMA 02/17/00 4.740 50,000 Disc Note FNMA 02/17/00 4.740 50,000 CP Hertz 04/01 /99 4.850 50,000 CP Household 04/01 /99 4.820 50,000 CP Household 04/01 /99 4.820 50,000 CP Household 04/02/99 4.820 40,000 Disc Note FHLB 02/18/00 . 4.740 50,000 Disc Note FHLB 02/18/00 4.740 50,000 CP Lehman 03/08/99 4.900 50,000 FNMA 4.990% 02/22/00 5.090 50,000 FNMA 4.900°% 02/22/00 5.090 50,000 FNMA 4.990°% 02/22/00 5.090 50,000 FNMA 4.990°% 02/22/00 5.090. 6,200 02/25/99 REDEMPTION CD BkBoston 5.310°% 02/25/99 5.160 50,000 147 1,055,045.06 PURCHASE FHLB 5.035°% 02/25/00 5.050 50,000 CD Montreal 06/30/99 4.920 50,000 CD Montreal 06/30/99 4.920 50,000 CP GECC 02/26/99 4.830 50,000 CP GECC 02/26/99 4.830 50,000 CP GECC 02/26/99 4.830 50,000 CP GECC 02/26/99 4.830 50,000 CP GMAC 02/26/99 4.830 50,000 CP GMAC 02/26/99 4.830 50,000 CP GMAC 02/26/99 4.830 50,000 CP GMAC 02/26/99 4.830 50,000 CP SRAC 03/08/99 4.880 50,000 CP Lehman 03/08/99 4.900 50,000 CP Assoc 03/31 /99 4.830 50,000 CP Salomon 04/01 /99 4.860 50,000 CP Salomon 04/01/99 4.860 50,000 CP Salomon 04/01 /99 4.860 50,000 CP Salomon 04/01 /99 4.860 50,000 CP GMAC 06/28/99 4.860 50,000 CP GMAC 06/28/99 4.860 50,000 FHLB 4.950% 02/17/00 5.150 27,880 Treas Bill 02/03/00 4.620 40,000 Treas Bill 02/03/00 4.620 50,000 Treas Bill 02/03/00 4.615 50,000 Treas Bill 02/03/00 . 4.615 50,000 5236 —11— 02125M PURCHASE Treas Bill 02/03/00 4.620 50,000 Treas Bill 02/03/00 4.620 50,000 02/26M RRS Treas Bill 02/03/00 4.300 50,000 Treas Bill 02/03/00 4.300 50,000 Treas Bill 02/03/00 4.300 9,000 Treas Bill 02/03/00 4.300 50,000 REDEMPTION BN NationsBk 5.110% 02/26/99 5.110 50,000 148 1,050,388.89 5.180 BN NationsBk 5.110% 02/26/99 5.110 50,000 148 1,050,388.89 5.180 BN NationsBk 5.330% 02/26/99 5.330 50,000 163 1,206,652.78 5.404 BN NationsBk 5.330% 02/26/99 5.330 50,000 163 1,206,652.78 5.404 BN NationsBk 5.330% 02/26/99 5.330 50,000 163 1,206,652.78 ,:5.404 BN NationsBk 5.330% 02/26/99 5.330 50,000 163 1,206,652.78 5.404 BN Fst Chic 5.550% 02/26/99 5.550 50,000 186 1,433,750.00 A5.627 BN Fst Chic 5.550% 02/26/99 5.550 50,000 186 1,433,750.00 5.627 BN B/A 5.550% 02/26/99 5.550 50,000 186 1,433,750.00 5.627 BN B/A 5.550% 02/26/99 5.550 50,000 186 1,433,750.00 5.627 BN B/A 5.580% 02/26/99 5.580 50,000 190 1,472,500.00. 5.627 BN B/A 5.580% 02/26/99 5.580 50,000 190 1,472,500.00 5.657 CD WestDeut 4.850% 02/26/99 4.840 50,000 42 282,336.31 4.907 CD Deutsche 5.620% 02/26/99 4.900 23,000 44 144,726.45 5216 CD CommerzBk 4.900% 02/26/99 4.890 30,000 51 207,827.92 4.957 CD CommerzBk 4.900% 02/26/99 4.890 50,000 51 346,379.87 4.957 CD WestDeut 4.930% 02/26/99 4.930 50,000 51 349,208.33 4.998 CD Montreal 5.180% 02/26/99 5.180 50,000 116 834,555.56 5251 CD Montreal 5.180% 02/26/99 5.180 50,000 116 834,555.56 5251 CD Stnrd Ch 5.380% 02/26/99 5.370 20,000 157 468,403.30 5.444 CD Stnrd Ch 5.350% 02/26/99 5.340 50,000 162 1,201,552.80 5.414 CD Stnrd Ch 5.350% 02/26/99 5.340 50,000 162 1,201,552.80 5.414 CD Stnrd Ch 5.360% 02/26/99 5.350 50,000 163 1,211,234.09 5.424 CD Stnrd Ch 5.360% 02/26/99 5.360 50,000 163 1,211,234.09 5.424 CD Bayer Lndsd 5.340% 02/26/99 5.330 50,000 164 1,214,109.55 5.404 CD Bayer Lndsd 5.340% 02/26/99 5.330 50,000 164 1,214,109.55 5.404 CD CommerzBk 5.570% 02/26/99 5.570 50,000 186 1,438,916.67 5.647 CD CommerzBk 5.570% 02/26/99 5.570 50,000 186 1,438,916.67 5.647 CD BkBoston 5.600% 02/26/99 5.600 40,000 190 1,182,222.22 5.677 CD BkBoston 5.600% 02/26/99 5.600 50,000 190 1,477,777.78 5.677 CD B/A 5.630% 02/26/99 5.670 50,000 365 2,873,272.72 5.748 CD B/A 5.630% 02/26/99 5.670 50,000 365 2,873,272.72 5.748 CID GECC 02/26/99 4.830 50,000 1 6,708.33 4.897 CID GECC 02/26/99 4.830 50,000 1 6,708.33 4.897 CID GECC 02/26/99 4.830 50,000 1 6,708.33 4.897 CID GECC 02/26/99 4.830 50,000 1 6,708.33 4.897 CID GECC 02/26/99 4.830 50,000 1 6,708.33 4.897 -12- 02126199 REDEMPTION CP GECC 02/26/99 4.830 50,000 1 6,708.33 4.897 CID GECC 02/26/99 4.830 50,000 1 6,708.33 4.897 CID GECC 02/26/99 4.830 50,000 1 6,708.33 4.897 CID Household 02/26/99 4.830 50,000 29 194,541.67 4.916 CID Household 02/26/99 4.830 50,000 29 194,541.67 4.916 CID Heller 02/26/99 4.960 50,000 42 289,333.33 5.058 CID Conagra 02/26/99 4.980 50,000 44 304,333.33 5.080 CID Amer Exp 02/26/99 4.820 50,000 49 328,027.7.8 4.919 CID Amer Exp 02/26/99 4.820 50,000 49 328,027.78 4.919 CID FMCC 02/26/99 4.800 50,000 50 333,333.33 4.899 CID FMCC 02/26/99 4.800 50,000 50 333,333.33 4.899 CID FMCC 02/26/99 4.810 50,000 51 340,708.33 4.910 CID FMCC 02/26/99 4.810 50,000 51 340,708.33 4.910 CID Amer Exp 02/26/99 4.800 45,000 57 342,000.00 4.903 CID Amer Exp 02/26/99 4.800 50,000 57 380,000.00 4.903 CID Amer Exp 02/26/99 4.800 50,000 57 380,000.00 4.903 CID Amer Exp 02/26/99 4.800 50,000 57 380,000.00 4.903 CID Assoc 02/26/99 4.930 25,000 58 198,569.44 5.038 CID GMAC 02/26/99 5.000 50,000 71 493,055.56 5.119 CID GMAC 02/26/99 5.000 50,000 71 493,055.56 5.119 CID GMAC 02/26/99 5.000 50,000 71 493,055.56 5.119 CID GMAC 02/26/99 5.000 50,000 71 493,055.56 6.119 CID SRAC 02/26/99 5.090 50,000 72 509,000.00 5.213 CID Assoc 02/26/99 5.050 50,000 73 512,013.89 5.173 CID Assoc 02/26/99 5.050 50,000 73 512,013.89 5.173 CID Heller 02/26/99 5.400 50,000 80 600,000.00 5.541 CID Salomon 02/26/99 5.200 50,000 108 780,000.00 5.355 CID Salomon 02/26/99 5.200 50,000 108 780,000.00 5.355 CID Merrill 02/26/99 4.920 37,000 128 647,253.33 5.077 CID Merrill 02/26/99 4.920 50,000 128 874,666.67 5.077 CID Amer Exp 02/26/99 5.190 20,000 162 467,100.00 5.387 CID Amer Exp 02/26/99 5.190 50,000 162 1,167,750.00 5.387 CID Amer Exp 02/26/99 5.190 50,000 164 1,182,166.67 5.389 CID GECC 02/26/99 5.140 50,000 164 1,170,777.78 5.3M CID GECC 02/26/99 5.140 50,000 164 1,170,777.78 5.336 CID GECC 02/26/99 5.140 50,000 164 1,170,777.78 5.336 CP GECC 02/26/99 5.140 50,000 164 1,170,777.78 5.336 Disc Note FHLMC 02/26/99 4.900 25,000 150 510,416.67 5.071 PURCHASE 9/ Disc Note FHLMC 03/12/99 4.740 50,000 Disc Note FHLMC 03/12/99 4.740 50,000 Disc Note FHLMC 03/12/99 4.760 7,000 Disc Note FHLMC 03/12/99 4.760 50,000 PURCHASE SBA (FR) 5.125% 08/25/24 5.125 10,051 —13— 02/28/99 REDEMPTION Treas Note Treas Note Treas Note Treas Note Treas Note Treas Note Treas Note Treas Note Treas Note Treas Note Tmas Note 5.875% 02/28/99 6.001 5.875% 02/28/99 6.001 5.875% 02/28/99 6.064 5.875% 02/28/99 6.064 5.500% 02/28/99 5.535 5.500% 02/28/99 5.450 5.500% 02/28/99 5.520 5.500% 02/28/99' 5.520 5.500% 02/28/99' 5.400 5.500% 02/28/99 5.400 5.500% 02/28/99 5.400 50,000 730 5,992,187.50 6.006 50,000 730 5,992,187.50 6.006 50,000 730 6,050,78125 6.072 50,000 730 6,050,78125 6.077. 50,000 1826 13,825,255.00 5.535 50,000 1826 13,545,000.00 5.405 50,000 1826 13,793,000.00 5.520 50,000 1826 13,793,000.00 5.520 50,000 1826 13,533,500.00 5.400 50,000 1826 13,533,500.00 5.400 50,000 1826 13,533,500.00 5.400 —14- a/ The abbreviations indicate the type of security purchased or sold; i.e., (U.S.) Bills, Bonds, Notes, DebenUmm, Discount Notes, and Participation Certificates: Federal National Mortgage Association (FNMA), Farmers Home Administration Notes (FSA), Student Loan Marketing Association (SLMA), Small Business Association (SBA) Negotiable Certificates of Deposit (CD), Negotiable Certificates of Deposit Floating Rate (CD FR)6 Export Import Notes ( XUA Bankers Acceptances (BA), Commercial Paper (CP)6 Government National Mortgage Association (GNMA)� Federal Home Loan Bank Notes MMB), Federal Land Bank Bonds (FLB), Federal Home Loan Mortgage Corporation Obligation (FSLMC PC) & (FHLMC GMC, Federal Farm Credit Bank Bonds R), Federal Farm Credit Discount Notes (FFC), Corporate Securities (CB), U.S. Ship Financing Bonds TITLE M9S), International Bank of Redevelopment (IBRD), Tennessee Valley Authority (TVA) Medium Term Notes �. Purchase or sale yield based on 360 day calculation for discount obligations and Repurchase Agreements. g/ Repurchase Agreement. !d/ Par amount of securites purchased, sold, or redeemed. e/ Securities were purchased and sold as of the same daze. f/ Repurchase Agreement against Reverse Repurchase Agreement. g/ Outright purchase against Reverse Repurchase Agreement. h/ Security "SWAP" transactions. Y Buy back agreement. RRS Reverse Repurchase Agreement. RRP Termination of Reverse Repurchase Agreement. —15— ALHAMBRA East West Bank East West Bank East West Bank East West Bank B V R YHI 1S City National Bank City National Bank City National Bank City National Bank CHICO North State National Bank North State National Bank North State National Bank North State National Bank Tri Counties Bank Tri Counties Bank Tri Counties Bank North State National Bank Tri Counties Bank G ENDAI E Glendale Federal Bank INGLEWOOD Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank 12/31/98 - 4.590 8,000,000.00 04/01/99 01/06/99 4.490 35,000,000.00 04/07/99 01/14/99 4.430 27,000,000.00 04/15/99 02/11/99 4.530 38,000,000.00 05113199 09/16/98 4.930. 20,000,000.00 03115199 11/02/98 4.360 25,000,000.00 05✓04/99 01 /27/99 4.480 _ 10,000,000.00 07/27/99 02/18/99 4.560 20,000,000.00 05/19/99 08/24/98 5.190 1,000,000.00 MUM 10/06/98 4.380 1,000,000.00 04/05199 12/01/98 4.530 1,000,000.00 03/02/99 12/09/98 4.450. 500,000.00 03/09/99 12/10/98 4.460 10,000,000.00 03/11/99. 12/17/98 4.540 10,000,000.00 03118199 12/21 /98 4.520 10,000,000.00 03/23199 01/05/99 4.550 1,000,000.00 04/06/99 01 /14/99 4.440 10,000,000.00 04/15199 10/07/98 4.360 5,000,000.00 04/06199 09/09/98 5.040 25,000,000.00 03109/99 09/09/98 5.040 25,000,000.00 03109/99. 09/16/98 4.990 11,000,000.00 03/16/99 10/01/98 4.710 18,000,000.00 04/01/99 11 /04/98 4.530 15,000,000.00 MUM 11 /06/98 4.530 20,000,000.00 04/15/99 12/09/98 4.560 25,000,000.00 04/26/99 01 /06/99 4.610 25,000,000.00 05/13199 12/30/98 4.700 18,000,000.00 05112/99 01/20/99 4.510 25,000,000.00 06/09/99 01/04/99 4-760 25,000,000.00 06/28/99 02/03/99 4.550 25,000,000.00 05125199 02/09/99 4.570 20,000,000.00 06/14/99 02/23/99 4.690 25,000,000.00 08/23/99 —16- Preferred Bank 12/16/98 4.520 9,000,000.00 03117/99 Preferred Bank 12/23/98 4.500 9,000,000.00 03124/99 Preferred Bank 12/29/98 4.600 3,000,000.00 03/30199 Community Bank 12/15/98 4.570 10,000,000.00 06/14/99 Community Bank 12/22/98 4.540 5,000,000.00 06rtM Preferred Bank 01 /14/99 4.420 3,000,000.00 04/15199 - General Bank 01 /12/99 4.480 15,000,000.00 04/16199 General Bank 01 /07/99 4.510 15,000,000.00 04/30/99 Community Bank 01/11/99 4.530 20,000,000.00 07/13/'99 Preferred Bank 02/19/99 4.550 4,000,000.00 0=0199 Preferred Bank 02/23199 4.600 2,000,000.00 - 05/25/99 General Bank 02/18/99 4.550 10,000,000.00 06/27/99 General Bank 02/17199 4.500 28,000,000.00 , . 06/02/99 Community Bank 02/08/99 4.570 15,000,000.00 MI 1/99 , General Bank 02/08/99 4.580 25,000,000.00 M13199 POMONA Pomona First Federal S & L 09/10/98 5.300 10,000,000.00 03/09l'99 Pomona First Federal S & L PETALUMA 11 /24/98 4.800 8,000,000.00 05125/99 Bank of Petaluma SACRAMENTO 02/09/99 4.600 11000,000.00 M10199 , 5 Union Bank of California 12/28/98 4.600 100,000,000.00 03/30/99 Sanwa Bank of California 01/27/99 4.480 5,000,000.00 07/27M River City Bank 01/20/99 4.500 5,000,000.00 07/30/99 Union Bank of California 01/27M 4.480 50,000,000.00 04/29/99 River City Bank 01 /13/99 4.550 5,000,000.00 07/13/99 Sanwa Bank of California 01/05/99 4.430 10,000,000.00 07/15/99 Union Bank of California 02/02/99 4.510 100,000,000.00 05/04M Union Bank of California 02117M 4.540 50,000,000.00 05/18/99 Sanwa Bank of California 02/03M 4.590 7,000,000.00 M03/99 Sanwa Bank of California 02/17/99 4.590 50,000,000.00 M16M River City Bank 02/17/99 4.600 5,000,000.00 08/18/99 Sanwa Bank of Califomia 02/19/99 4.650 10,000,000.00 08/23/99 Bank of Salinas 01/22/99 4.360 890001000.00 -17- San Diego First Bank 11/05/98 .. 4.530 1,000,000.00 05/06/99 San Diego First Bank 12/01/98 4.520 1,500,000.00 06101/99 San Diego First Bank SAN FRANCISCO 12/22198 4.610 1,500,000.00 06122/99 Oceanic Bank 03/05/98 5.430 2,000,000.00 03/05/99 Bank of Canton California 06/09/98 5.410 5,000,000.00 03/05/99 Bank of the West W08/98 5.440 ' 25,000,000.00 06108199 Bank of the West 07/13198 5.350 25,000,000.00 07/13199 Transpacific National Bank 09/16/98 5.100 800,000.00 03115/99 Bank of Canton Califomia 12/01/98 4.620 5,000,000.00 06/0im Bank of Canton Califomia 12/15198 4.500 5,000,000.00 03/16199 United Commensal Bank 12/22/98 4.590 20,000,000.00 - 03%2M California Federal Bank 12/29/98 4.750 3,000,000.00 03131/99 Bank of Canton California 12/04/98 4.500 5,000,000.00 06/02/99 Bank of the West 01 /04/99 4.590 14,000,000.00 United Commercial Bank 01/06/99 4.560 20,000,000.00 04/07/99 California Federal Bank 01/14/99 4.500 100,000,000.00 ,., 04/15/99 Bank of the West 01/20/99 4.480 25,000,000.00 04/22199 Bank of the West 01 /28/99 4.490 51,500,000.00 04/29/99 Bank of Canton California 01/21/99 4.470 5,000,000.00 07/21/'99 '. r Cupertino National Bank 01 /22/99 4.490 20,000,000.00 07/2M Mid -Peninsula Bank 01/27/99 4.490 15,000,000.00 ' 07/27/99 Bank of Canton California 02/05/99 4.510 5,000,000.00 05/06/99 United Commercial Bank 02/09/99 4.550 20,000,000.00 05111/99 Bank of Canton California 02/11/99 4.520 5,000,000.00 05/13/99 Bank of the West 02/18/99 4.560 30,000,000.00 05/19/99 Bank of the West 02/23/99 4.610 25,000,000.00 05126199 Bank of the West 02/24/99 4.610 27,000,000.00 05/26/99 Bank of the West 02/25/99 4.610 35,000,000.00 05126199 SAN LEANDRO Bay Bank of Commece 01/06/99 4.500 5,000,000.00 04/07/99 Bay Bank of Commece SAN LUIS OBISPO 02/03/99 4.590 10,000,000.00 08/03/99 F First Bank of San Luis Obispo 01 /05/99 4.560 1,000,000.00 04/06/99 First Bank of San Luis Obispo 01/27/99 4.440 1,000,000.00 04/2M First Bank of San Luis Obispo 02/02/99 4.530 3,600,000.00 05/04/99 First Bank of San Luis Obispo 02/10/99 4.560 2,000,000.00 05/12/99 First Bank of San Luis Obispo 02/23/99 4.620 2,500,000.00 05124/99 -18- NAME SAN RAFAEL Westamerice Bank Westamerica Bank Westamerica Bank Westamerica Bank Westamerica Bank Boreal Bank and Trust Grand National Bank Grand National Bank Grand National Bank Grand National Bank Grand National Bank Santa Barbara Bank $ Trust Santa Barbara Bank & Trust Santa Barbara Bank & Trust Santa Barbara Bank & Trust Santa Barbara Bank & Trust Santa Barbara Bank & Trust SANTA CRUZ Coast Commercial Bank SHASTA North Valley Bank STANISLAW Oak Valley Community Bank Oak Valley Community Bank Oak Valley Community Bank 01 /13/99 4.500 25,000,000.00 04/14M 01,20/99 4.440 25,000,000.00 04/21/99 01/21/99 4.440 25,000,000.00 04/22199 01/27/99 4.430 25,000,000.00 04r28199 02/09/99 4.540 50,000,000.00 05/11/99 10/01/98 5.080 95,000.00 04/01/99 - 09/08/98 5.010 1,500,000.00 03109/99 10/15198 4.180 1.,000,000.00 10/15/99 12/08/98 4.510 1,500,000.00 03109199 01 /14/99 4.430 2,000,000.00 04/15/99 01/04/99 4.610 95,000.00 07/07/99 12/01/98 4.540 5,000,000.00. 03/02J99 12/15/98 4.520 5,000,000.00 03/16/99 01 /05/99 4.530 5,000,000.00 04/07/99 01 /07/99 4.500 10,000,000.00 04/07/99 01 /14/99 4.440 5,000,000.00 04/15199 02/09/99 4.550 5,000,000.00 05/11/99 12/16/98 4.520 15,000,000.00 03/17/99 09/22/98 4.750 09/24/98 4.840 02/04/99 4.560 02/08/99 4.600 3,000,000.00 03/23/99 1,000,000.00 03124/99 500,000.00 05/06/99 500,000.00 08/10/99 —19— TIME DEPOSIT R AMOUNT lSlUAninrrynATw NAME DEPOSIT DATE YIELD PA F;RANCE . TO China Trust Bank (USA) 12/30/98 4.620 China Trust Bank (USA) 12/30/98 4.620 South Bay Bank 12/15/98 4.640 China Trust Bank (USA) 12/09/98 4.460 China Trust Bank (USA) 12/15/98 4.540 China Trust Bank (USA) 01/27/99 4.440 South Bay Bank 01 /20/99 4.550 TUSTIN Sunwest Bank 01 /06/99 4.550 Sunwest Bank 01/11/99 4.450 Sunwest Bank 01/19/99 4.480 VICTORVILLE Citizens Business Bank 08/06/98 5.2N Citizens Business Bank 09/23/98 4.810 Citizens Business Bank 10/08/98 4.360 Citizens Business Bank 12/16/98 4.570 Citizens Business Bank 01 /05199 4.640 Citizens Business Bank 02/08/99 4.580 WALNUT CREEK Bank of the West 05/15/98 5.450 Saratoga National Bank 09/28/98 4.660 Bank of the West 09/28/98 4.600 Saratoga National Bank 12/21/98 4.610 TOTAL TIME DEPOSITS AS OF FEBRUARY 2891999 5,000,000.00, 03131/99 5,000,000.00 03/31199 2,000,000.00 06115M9 10,000,000.00 03/10M9 10,000,000.00 03/16M9 15,000,000.00 04/28/99 1,000,000.00 07/21/99 3,300,000.00 04107/99 3,500,000.00 04/13/99 1,000,000.00 04/21199 r 5,000,000.00 10,000,000.00 03d23M 10,000,000.00 04107/99 10,000,000.00 M16199 5,000,000.00 . 07/07/99 10,000,000.00 08/10/99 10,000,000.00 05/13/99 5,000,000.00 04/01 /99 20,000,000.00 04/01/99 1,750,000.00 06/2m $2,007v6409000.00 tr 15q�fm (000 omitted) DAILY BALANCES FEBRUARY PER BANI�.4 WARRANTS OUTSTANDING 1. $345,176 . is UM79455 ; . 2. 7661,693- _ 2,6089708 3. 5649424 19667,095 4. 280,509 195029607 5. 4419354 1,596,552 6. 441,354 195969552 7. 4419354 195969552 8. 2509887 194469939 9. 218,136 193919,406 10. 210,925 193409144 11. 1029700 1r5479304 12. 2059425 1,5479304, . 13. 2059,425 19547,304 14. 205,425 195479304 15. 2059425 19547,304 16. 2179896 1,211,152 .17. 2839,144 1,1219655 18. 3459717 1,0139310 19. 4049,075 116589502 20. 4049,075 19658,502 21. 4049075 19658,502 22. 1899553 1,619,250 23. 3639893 195339,628 24. 295496 19,428,012 25. 1779,191 1,509,678 26. 2949,117 19,834,535 27. 2949117 19834,535 28. 2949117 19,838,991 a/ AVERAGE DOLLAR DAYS $3169,163 a/ The prescribed bank balance for February was $3859,823,000.00. This consisted of $207,608,000.00 in compensating balances for services, $170,612,000.00 uncollected funds and a deduction of $7,603,000.00 for January delayed deposit credit. —21— DESIGNATION BY POOLED MONEY INVESTMENT BOARD OF TREASURY POOLED MONEY INVESTMENTS AND DEPOSITS No.1596 In accordance with sections 16480through 16480.8 of the Government Code, the Pooled Money Investrnent Board, at its meeting on February 17,1999, has determined and designated the amount of money available for deposit and investment under said sections. In accordance with sections 16480.1 and 164802 of the Government Code, it is the intent that the money available for deposit or imrestrnent 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 pnxkmt treasury management, and the Board does hereby designate the amount of money available for deposit in bank accounts, savings and ban assod- ations, and for investmwd 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 $ 189,020,000 The active nonir fterest-bearing bank accounts designation constitutes a calendar month average balance. For purposes of computing the compensating balances, the Treasurer shah exclude from the daily balances any amounts contained therein as a result of nondelivery of securities purchased for'bash' for the Pooled Money Investment Account and shall adjust for any deposits not credited by the bank as of the dabs of deposit. The balances in such accounts may td 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 approocimates that -amount. The balances may ex cesd this amount during heavy collection periods or in antic ostion of large impending wwraat 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 pnrdent treasury rrwnagerrnent 2. In a000rdwm with law, for investment in securities authorized by section 16430, Government Code, or in tern interest - bearing deposits in banks and savings and ban associations as follows: From (1) 02J15199 (2) 0V22i99 (3) 03/01/99 (4) 03108/99 (5) 03/15/99 (6) 03J22/99 (7) 03/29M (8) 04/05/99 (9) 04/12/99 (10) 04/19199 To 02i19f99 $ o2r2M. $ 03105/99 $ 03/12/99 $ 0311WN $ Transactions (109,100,000) (951,000,000) (855,500,000) 508,400,000 Time Deposits in various Financial In Securities (sections 16503a Estimated .(section 16430r. and 166Mr Total $ 32,654,260,000 $ 2,014,640,000 $ 34.668.900.000 S 31,70.3,260,000 S 2,014,640,000 S ` 33.717,900,000 S 30,847,760,000 $ 2,014,640,000 $ 32,862,400,000 $ 31,356,160,000. $ 2,014,640,000 $ 33,370,800.000 1,229,200,000 $ 32,585,360,000 $ 2,014,640,000 $ 134,600,000.000 03r26/99 $ 1,383,700,000 $ 33,969,060,000 $ 2,014,640,000 ' $ 35,983,700,000 04/02/99 $ (2,239,100,000) $ 31,729,960,000 $ 2,014,640,000 $ 33,744,800,000 04/)9199 $ (165,800,000) $ 31,564,160,000 $ 2,014,640,000 $ 33,578,800,000 04/16/99 $ 1,774,300,000 $ 33,338,460,000 $ 2,014,640,000 $ 35,353,100,000 04/23/99 $ 3,089,000,000 $ 36,427,460,000 $ 2,014,640,000 $ 38,442,100,000 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 $ 189,020,000. Dated: February 17,1999 `Government Code m —22— T4t!t 4 0 4 Q" COUNCIL/RDA MEETING DATE: ITEM TITLE: Consideration of Approval of Investment Advisory Board 1999/2000 Work Plan RECOMMENDATION: July 6, 1999 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Approve the Investment Advisory Board 1999/2000 Work ,Plan. FISCAL IMPLICATIONS: Fiscal implications consist of Board Member meeting expenses, budgeted at $4,200, and staff support time. CHARTER CITY IMPLICATIONS: None BACKGROUND AND OVERVIEW: The Investment Advisory Board proposed a 1999/2000 Work Plan (Attachment No. 1) at their June 16, 1999 meeting consisting of the following: • Request for Proposal for Banking Services; • Review of Internal Controls; • Review of Board Functions as related to the City Ordinance; and • Other reoccurring items such as the monthly Treasurers report, LAIF reports and monthly Cash reports. FINDINGS & ALTERNATIVES: The alternatives available to the City Council include: 1. Approve the Investment Advisory Board 1999/2000 Work Plan; or 2. Do not approve the Investment Advisory Board 1999/2000 Work Plan; or 3. Provide staff with alternative direction. ATTACHMENT 0' ATTACHMENT NO. 1 City of La Quinta Investment Advisory Board Fiscal Year 1999/2000 Work Plan • Request for Proposal for Banking Services; • Review of Internal Controls; • Review of Board Functions as related to the City Ordinance; and • Other reoccurring items such as the monthly Treasurers report, LAIF reports and monthly Cash reports. 04