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2003 01 08 IABP.O. Box 1504 78-495 CALLE TAMPICO LA QUINTA, CALIFORNIA 92253 (760) 7 7 7 - 7 0 0 0 FAX (760) 777-7101 AGENDA INVESTMENT ADVISORY BOARD Study Session Room 78-495 Calle Tampico- La Quinta, CA 92253 January 8, 2003 - 5:30 P.M. Board Member Felice(Video Conference Location) Cisco Systems 170 West Tasman Dr., Bldg. 17, San Jose, California, 95134 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 1 . Approval of Minutes of Meeting on December 11, 2002 for the Investment Advisory Board. V BUSINESS SESSION A. Transmittal of Treasury Report for November 2002 VI CORRESPONDENCE AND WRITTEN MATERIAL A. Month End Cash Report and other selected Financial Data - December 2002 B. Pooled Money Investment Board Reports - October 2002 VII BOARD MEMBER ITEMS Vlll ADJOURNMENT g� INVESTMENT ADVISORY BOARD Business Session: A Meeting Date: January 8, 2003 ITFM TITLF- Transmittal of Treasury Report for November 30, 2002 BACKGROUND: Attached please find the Treasury Report November 30, 2002 RECOMMENDATION: Review, Receive and File the Treasury Report for November 30, 2002 nce Director T4'!t 4 XP Qum& MEMORANDUM TO: La Quinta City Council FROM: John M. Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for November 30, 2002 DATE: December 24, 2002 Attached is the Treasurer's Report for the month ending November 30, 2002. The report is submitted to the City Council each month after a reconciliation of accounts is accomplished by the Finance Department. The following table summarizes the changes in investment types for the month: Investment Beginning Purchased Notes Sold/Matured Other Ending Change Cash ($446,287) (1) ($400,045) ($846,332) ($400,045) LAIF $17,678,739 (1,700,000) 15,978,739 (1,700,000) US Treasuries (2) $57,959,841 3,998,569 (4,000,000) 109,160 58,067,570 107,729 US Gov't Agencies (2) $14,956,498 16,568 14,973,066 16,568 Commercial Paper (2) Mutual Funds $0 $9,671,083 1 155,429 0 9,515,654 0 155,429 Total $99,819,874 I $3,998,56( $6,255,474 $125,728 $97,688,697 $2,131,177 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 the Bank of New York Monthly Custodian Report to determine the fair market value of investments at month end. r VVLI IV I. (1) The amount reported represents the net increase (decrease) of deposits and withdrawals from the previous month. (2) The amount reported in the other column represents the amortization of premium/discount for the month on US Treasury, Commercial Paper and Agency investments. / )-3 ° O 1--- Date 060 O m m N m C d' C m C C - u Z C Z C Z C c Z O Z Z O Z p Z W c El O cn . 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N c A L N L m m j c Q d« CA w m m U y r y ID a)c m U c y ti E c z c y •C cc C F- `) x a c c N> c cn K W m O) 0) r C ' N y y p-c W y c C c� !-' N m c U W N `O (� (0 - > p,as N K m c .. w z on ar(nOo wu)w0000H z 0 V N U) OR L O LO m U) OO (c N f) V CA N a O N N to M m M N N O : M � M O N 0 N m n w C6 (O N Lq N (D n N M M 0; CO N V N M � N m Cn a) v C n a 0 A E y r O O O C c y C N N c c O O 00 Q E d o z z N () y d c a` y E c N 7 y U LL 0 c y > a L w L C 'y N y � W O 7 0 m c U U U m c Q p N O O y y A N a)O m 0. C O O � @ L y f9 y c E m E�E0 m d A U t5 U m v °a c E _E p y O ; 2 C C d U N (n > (v T> c N C U c O1 J U C C ' C co o 9 c Z c m Z C)w U S y .y u c m� c L U ; m d LL C a LL .O O LL O O CLco .O. ,p O O c O z _ O c o gmo A uu7 x m y S � u 5 B x x ®®i.®®l,l,, Imlillilirl N NNNNN J JJJJJ N » ) > Y Y E E E E E E �4 000xxx m sss�sa� Jg iizzzi� m m m m m m `2»00000...... a LL � LL �QQdddQdGddQdd � LL �QQdddQdGddQdd EuE EuE FF FF FF F"F�E EE FF FF FF EE FF 3 „ V NNd NNdU�Id Nd Vy1R j U a U� q=u'�o¢'oQOQOQoo s vp¢oprco�opo¢- CITY OF LA QUINTA CITY CITY RDA RDA FA BALANCE SHEET 11/30/02 FIXED LONG TERM FIXED LONG TERM FINANCING LONG TERM GRAND CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL ASSETS: POOLED CASH 2,120,534.00 0.00 0.00 12.317,858.76 0.00 0.00 7.771.01 0.00 14 446,163.77 LORP INVESTMENT IN POOLED CASH 0.00 0.00 670,000.00 0.00 0.00 0.00 0,00 670,000,00 INVESTMENT T-BILL/NOTES & OTHER 43.000,000.00 0.00 0.00 OAO 0.00 9.0o 0.00 0.00 43,000.000 00 AUTO MALL CASH 0.00 0.00 0.00 LQRP CASH 0.00 0.00 0.00 15.243.31 0.00 0.00 0,00 0.00 15,243.31 BOND REDEMPTION CASH 0.00 0.00 0.00 4,533-11 0.00 0.00 339.28 0.00 4.872.39 BOND RESERVE CASH 0.00 0.00 OAO 0,00 0,00 0,00 0.DO 0.00 000 BOND PROJECT CASH 0,00 0,00 0.00 39,658,938.02 0.00 0.00 527.82 0.00 39,659 465.84 BOND ESCROW CASH 0.00 0.00 0.00 0,00 0,00 0.00 0.00 0.00 0.00 PETTY CASH 1,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,000.00 CASH& INVESTMENT TOTAL 45,121,534.00 0.00 0.00 52,666,573.20 0.00 0.00 8,638,11 0,00 97,796,745.31 INVESTMENT IN LAND HELD FOR RESALE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ACCOUNTS RECEIVABLE 140.456 46 0.00 0.00 60.900.00 0.00 0.00 0.00 0.00 201,956 46 PREMIUM/DISCOUNT ON INVESTMENT (29,415.20) 0.00 0.00 (78.633.49) 0.00 0,00 0.00 0.00 (108,048.69) LORP-ACCOUNTS RECEIVABLE 0,00 0.00 0.00 51,550.94 0.00 0.00 0.00 0.00 51,550.94 INTEREST RECEIVABLE 220,844.75 0.00 0.00 0,00 0.00 0.00 0.00 0.00 220,844.75 LOAN/NOTES RECEIVABLE (59.06) 0.00 0.00 13,215,683.11 0.00 0,00 0.00 0.00 13,215,624,05 DUE FROM OTHER AGENCIES 1,164,702.00 86.040,17 1,250,742. 17 DUE FROM OTHER AGENCIES - CVAG 2,299,096.69 0.00 0.00 0.00 0.00 0.00 0.00 2,299,096.69 CVAG ALLOWANCE (2,299,096.69) (2.299,096.69) DUE FROM OTHER GOVERNMENTS 30,600.37 0,00 0.00 0.00 0.00 0,00 0.00 0,00 30,600,37 DUE FROM OTHER FUNDS 0.00 0.00 159,451.89 0.00 0.00 0.00 0.00 159.451.89 DUE FROM RDA 8,497,550.20 0.00 0.00 0.00 0,00 0.00 0.00 0.00 8,497,550,20 INTEREST ADVANCE -DUE FROM RDA 4.571,643.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,571,643.01 ADVANCES TO OTHER FUNDS 1.100,000.00 2,170,104,45 3,270,104.45 NSF CHECKS RECEIVABLE 3,513.86 0.00 0.00 0,00 0.00 0,00 0,00 0.00 3.513.86 ACCRUED REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FIXED ASSETS 0.00 308,622,199.00 308.622.199.00 ACCUMULATED DEPRECIATION 1,018,482.90 0.00 1,018,482.90 TRAVEL ADVANCES 1,300,00 0.00 0.00 0,00 0,00 0.00 0.00 0.00 1,300.00 EMPLOYEE ADVANCES 0,00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PREPAID EXPENSES 0.00 0.00 0,00 0.00 0,00 0,00 0.00 0.00 0,00 RECEIVABLE TOTAL 1Q719,619.29 308,622.199,00 0.00 15,665,097.07 0,00 0,00 0.00 0.00 341,006,915. 36 WORKER COMPENSATION DEPOSIT 148.445.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 148.445.00 RENT DEPOSITS 0.00 0.00 0.00 0.00 0,00 0.00 0.00 0.00 0.00 UTILITY DEPOSITS 75.00 0.00 0.00 0,00 0.00 0.00 0.00 0.00 75.00 MISC. DEPOSITS (951.79) 0,00 0.00 0.00 0.00 0.00 0.00 0,00 (951.79) DEPOSITS TOTAL 147.568.21 0.00 0.00 0.00 0.00 0.00 0,00 0,00 147,568.21 GENERAL FIXED ASSETS 0.00 0.00 0.00 0.00 52,094,306.00 0,00 0.00 0,00 52,094,306.00 ACCUMULATED DEPRECIATION 0.00 0,00 0,00 AMOUNT AVAILABLE TO RETIRE UT DEBT 0,00 0.00 0.00 0.00 0.010 0.00 0.00 0.00 0,00 AMOUNT TO BE PROVIDED FOR UT DEBT 0.00 0,00 1,694,231.51 0,00 0.00 160,998,172.00 0,00 7,475,000,00 170,167.403. 51 TOTAL OTHER ASSETS 0.00 0.00 1,694.231.51 0.00 52,094,306.00 160,998,172.00 0.00 7,475,000.00 222.261.709.51 TOTAL ASSETS 61,988,721.50 308,622,199.00 1.694,231.51 68,331,670.27 52,094,306.00 160,998.172,00 8,638.11 7,475,000.00 661,212.938,39 LIABILITIES: ACCOUNTS PAYABLE 390,026.51 0.00 0.00 (345,504.00) 0.00 0.00 0.00 0.00 44,522.51 DUE TO OTHER AGENCIES 133,050.31 0.00 0.00 0.00 0.00 0.00 0.00 0.00 133,050,31 DUE TO OTHER FUNDS 159,451.89 0.00 0.00 1,685,659.63 0.00 0,00 0,00 0.00 1,845.111.52 INTEREST ADVANCE -DUE TO CITY 2,170.104,45 0.00 0.00 12,483,537.00 0.00 0.00 0.00 0.00 14,653.641.45 ACCRUED EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.D0 INTEREST PAYABLE 95,538.44 95,538.44 PAYROLL LIABILITIES 96,696.53 0.00 0.00 0.00 0.00 0.00 0.00 0,00 96.696.53 STRONG MOTION INSTRUMENTS 3,816.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,816.16 FRINGE TOED LIZARD FEES 24,000.00 0.00 0.00 0,00 0.00 0,00 0,00 0.00 24,000.00 SUSPENSE (2,725.77) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (2,725,77) DUE TO THE CITY OF LA QUINTA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAYABLES TOTAL 2,974,420.08 0.00 0.00 13,919,231,07 0.00 0,00 0.00 0.00 16.893,651 . 15 ENGINEERING TRUST DEPOSITS 1,400.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.400.00 SO. COAST AIR QUALITY DEPOSITS 0,00 0.00 0.00 0.00 0.00 0,00 0.00 0.00 0.00 LORP DEPOSITS 0.00 0.00 0.00 17,001.00 0.00 0.00 0.00 0.00 17,001.D0 DEVELOPER DEPOSITS 857,904.36 0,00 0.00 25,000.00 0,00 0.00 0.00 0.00 882.904.36 MISC. DEPOSITS 439,568.66 0.00 0.00 25,000.00 0.00 0.00 0,00 0.00 464.568.66 AGENCY FUND DEPOSITS 1,068,595.66 0.00 0.00 0.00 0,00 0.00 0.00 0.00 1,068,595. 66 TOTAL DEPOSITS 2,367,468.68 0,00 0.00 67.001.00 0,00 0.00 0,00 0,00 2,434.469. 68 DEFERRED REVENUE 1,164,702.00 0,00 0.00 11.079,695.08 0,00 0.00 0,00 0.00 12,244,397.08 OTHER LIABILITIES TOTAL 1,164,702.00 0.00 0.00 11,079,695.08 0.00 0.00 0,00 0.00 12,244,397.08 COMPENSATED ABSENCES PAYABLE 0.00 0.00 422,197.92 0,00 0,00 0.00 0,00 0.00 422.197,92 DEVELOPER AGREEMENT 743,722.59 743.722.59 DUE TO THE CITY OF LA QUINTA 0.00 0.00 528.311.00 0.00 0,00 0,00 0.00 0.00 528,311.00 DUE TO COUNTY OF RIVERSIDE 0.00 0.00 0.00 0,00 0.00 2.250,000.00 0.00 0.00 2,250,000.00 DUE TO C.V. UNIFIED SCHOOL DIST. 0.00 0.00 0.00 0.00 0.00 8,063,172.00 0,00 0.00 8,063.172.00 DUE TO DESERT SANDS SCHOOL DIST. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 BONDS PAYABLE 0.00 0.00 0.00 0.00 0.00 150,685.000,00 0.00 7.475,000.00 158,160,000.00 TOTAL LONG TERM DEBT 0.00 0.00 1,694,231.51 0.00 0.00 160,998,172.00 0.00 7.475,000.00 170,167.403,51 TOTAL LIABILITIES 6,506,590.76 0.00 1,694,231.51 25,065,927.15 0.00 160.998,172.00 0.00 7,475,000.00 201,739.921.42 EQUITY -FUND BALANCE 55,482,130.74 308,622.199.00 0.00 43,265,743.12 52,094,306.00 0.00 8,638.11 0,00 459,473,016.97 TOTAL LIABILITY & EQUITY 61,988,721.50 308,622,199.00 1,694,231.51 68,331,670.27 52,094,306.00 160,998,172.00 8.638,11 7,475,000.D0 661,212,938.39 (0.00) 0.00 0.00 (0,00) 0.00 0.00 (0.00) 0.00 (0.00) CASH & INVESTMENT TOTAL 97,196,745.31 PREMIUM/DISCOUNT ON INVESTMENT 9108.048.621 TOTAL 97,688,696.62 INVESTMENT ADVISORY BOARD Correspondence & Written Material Item A Meeting Date: January 8, 2003 TITLE: Month End Cash Report - December 2002 and Other selected Financial Data 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. M. Falconer, Finance Director V- C) d NO O L N C cc as - =UN cu C a O L E w o U � U rn to o cp r r N A r N W M co O M m 04 O r r m O Op N p N r 0 0 n O O O ro O O r p 0 0 0 0 0- a t 66 N N M O O O O (6 N O I LO 0 0 0 n 0 O O (O O V M 0 0 0 0� V7 CO M I- (O a0 V Ln LO to O m 66) W) m C:)� m CD M N O N O co (D co N C CD to tb LO fD M co (`') O (6 0 N O co co O LO m a O M m t(7 M E I to (D O O t0 Lo 't O 00 N a 6) M (D (D m M co M N a O c > o0 cc oc m m 6 N� 04 � m O C CC) T r� n 000 Q LL d' V 0 0 0 O 0 O 0QN N N N 6)0m N 2' J N N N M O Wi m t0 LO t0 co M O O V7 000 d 4 O O O M _T LL U Q N to co N to co N L co O 00 M O N (? (� L ED Cl)N N N M W W O C) C) C) C)w O E O ci C? C! p0 L6 co O (D LO (D 2 N N N oc C)O c0 ac O >> Cl) o r` Uc m 0 to to C) (D Y (.j N cr0 to LO t0 N N N to M Lq (`2 C.)LL r- M (0 O It o rn o 0 Na) r m O (O (3) I- r r- U o (6 °° to r` v N O (o 2 co(n N L)N N N U a) O O O a0 N (D ¢ co N L) E C n o N a) X N ° a) � to C m a) C m Co w- > CO F C N C a) O m O w C N a) a) a3 m C L) @ m a a) d L m m E c m C L m C m m m 3 V) m N E m E E Z as 7 L a) a) 2 U— N > L)O .— T O p a)LbcuSa_ LLI Qa Q LLJ �<U)0zC) W �QQ 0 M 0 CD C O O C', O M C) M (O CY) o O M LO r, O to n M V V ao 0 (h O a r O to O r Ci N N V w O N 0 o o a (6 a 3 v N N onr r C a) 2 a C �- n O" o_ a 7 a) O U L )n (o H O a) Q) n m m w «_ L) C (a N L 7 C a) r (n Q Q r p a) C a)a n> o U O) n m a) d u U Q N a) N O C E -_ a0 i- a)L.. LL' N C O a) LL `p (o (o coN N n a) L U m N O a) C_ a N C C 3 (r O a a) 7 L ca a7 a) LL a3 O o m 5 co a ti U C n a L L m> ca L �)F= U C m E o O -O C) a) O ca 0u L N E m� �� nE a) O L 3 U L E N T a C p a a) r m" U wa Mn w w ro n3o m a) a)n cash � 0 L w vi m n m 0 a) 0 n O` U T U y ntiNLTc n a) mm L O .-. Epa) p L C a) a) O_ H d p -p E N N C a O n C o a) a) U m�a) c)aM mUa) 2 C O C O V a) a u)mH O d w (o >, U-0 U a m r> O, 7 U L a C U O a a) E )n Q Q x~ a)L w 3p a) E in n C (D N �O n- o T C N N C m a1 m a) C E O )n O r C C) a)> a m C 2 C a) C N Q U O C L N a) C C U a) n W C p C N O a) L (n ~ C al U- F w w n FRB: H. I 5--Selected Interested Rates, Web -Only Daily Update --December 27, 2002 Page I of 3 Federal Reserve Statistical Release 11,15 Selected Interest Rates (Daily) Release Date: December 27, 2002 Weekly -release dates and announcements I I-listor_ical data. I About Daily update Other formats: Screen rcLider I ASCII The weekly release is posted on Monday. Daily updates of the weekly release are posted Tuesday throug H.15 DAILY UPDATE: WEB RELEASE ONLY For immediate release SELECTED INTEREST RATES December 27, 2002 Yields in percent per annum 2002 2002 2002 2002 Dec Dec Dec Dec Instruments 23 24 25 26 Federal funds (effective) 1 2 3 1.28 1.15 1.15 1.28 Commercial paper 3 4 5 6 Nonfinancial 1-month 1.31 1.33 1.34 2-month 1.34 1.31 1.33 3-month 1.31 1.31 Financial 1-month 1.30 1.31 1.31 2-month 1.32 1.31 1.31 3-month 1.31 1.32 1.32 CDs (secondary market) 3 7 1-month 1.37 1.37 1.37 3-month 1.35 1.35 1.35 6-month 1.35 1.35 1.35 Eurodollar deposits (London) 3 8 1-month 1.35 1.36 1.35 3-month 1.34 1.34 1.34 6-month 1.34 1.34 1.34 Bank prime loan 2 3 9 4.25 4.25 4.25 4.25 Discount window borrowing 2 10 0.75 0.75 0.75 0.75 U.S. government securities Treasury bills (secondary market) 3 4 4-week 1.13 1.15 1.12 3-month 1.17 1.17 1.16 6-month 1.24 1.24 1.24 Treasury constant maturities 11 1-month 1.15 1.17 1.14 3-month 1.19 1.19 1.18 6-month 1.26 1.26 1.27 1-year 1.43 1.42 1.41 2-year 1.79 1.73 1.70 3-year 2.17 2.10 2.08 5-year 2.95 2.92 2.89 7-year 3.54 3.51 3.47 10-year 3.98 3.95 3.93 6L3 http://www.federalreserve.gov/Releases/H15/update/ 12/31 /2002 FRB: H. I 5--Selected Interested Rates, Web -Only Daily Update --December 27, 2002 Page 2 of 3 20-year 4.98 4.93 4.91 Treasury long-term average (25 years and above) 12 13 5.04 5.00 4.99 Interest rate swaps 14 1-year 1.55 1.49 1.50 2-year 2.13 2.03 2.03 3-year 2.68 2.57 2.58 4-year 3.08 2.99 3.00 5-year 3.41 3.33 3.35 7-year 3.94 3.85 3.88 10-year 4.45 4.37 4.39 30-year 5.29 5.23 5.25 Corporate bonds Moody's seasoned Aaa 15 6.18 6.16 6.15 Baa 7.42 7.39 7.38 State & local bonds 16 4.79 Conventional mortgages 17 See overleaf for footnotes * Markets closed FOOTNOTES 1. The daily effective federal funds rate is a weighted average of rates on brokered trades. 2. Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures include each calendar day in the month. 3. Annualized using a 360-day year or bank interest. 4. On a discount basis. 5. Interest rates interpolated from data on certain commercial paper trades settled by The Depository Trust Company. The trades represent sales of commercial paper by dealers or direct issuers to investors (that is, the offer side). See Board's Commercial Paper Web pages (http://www.federaireserve.gov/releases/cp) for more information. 6. The 1-, 2-, and 3-month rates are equivalent to the 30-, 60-, and 90-day dates reported on the Board's Commercial Paper Web page. 7. An average of dealer offering rates on nationally traded certificates of deposit. 8. Bid rates for Eurodollar deposits collected around 9:30 a.m. Eastern time. 9. Rate posted by a majority of top 25 (by assets in domestic offices) insured U.S.-chartered commercial banks. Prime is one of several base rates used by banks to price short-term business loans. 10. Rate for the Federal Reserve Bank of New York. 11. Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury. 12. Based on the unweighted average of the bid yields for all Treasury fixed -coupon securities with remaining terms to maturity of 25 years and over. 13. A factor for adjusting the daily long-term average in order to estimate a 30-year rate can be found at http://www.treas.gov/offices/domestic-finance/debt-management/interest-rate/lt 14. International Swaps and Derivatives Association (ISDA) mid -market par swap rates. Rates are for a Fixed Rate Payer in return for receiving three month LIBOR, and are based on rates collected at http://www.federalreserve.gov/Releases/HI 5/update/ 12/31 /2002 FRB: H.15--Selected Interested Rates, Web -Only Daily Update --December 27, 2002 Page 3 of 3 11:00 a.m. by Garban Intercapital plc and published on Reuters Page ISDAFIXI. Source: Reuters Limited. 15. Moody's Aaa rates through December 6, 2001 are averages of Aaa utility and Aaa industrial bond rates. As of December 7, 2001, these rates are averages of Aaa industrial bonds only. 16. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thursday quotations. 17. Contract interest rates on commitments for fixed-rate first mortgages. Source: FHLMC. DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES Yields on Treasury securities at "constant maturity" are interpolated by the U.S. Treasury from the daily yield curve. This curve, which relates the yield on a security to its time to maturity, is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations obtained by the Federal Reserve Bank of New York. The constant maturity yield values are read from the yield curve at fixed maturities, currently 1, 3 and 6 months and 1, 2, 3, 5, 7, 10 and 20 years. This method provides a yield for a 10-year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity. Week_%, release dates wid— anno-uncenients I llistori_cal data � ,al out Daily update Other formats: Screen reader I ASCA C Statistical releases f Iome 11 c o mic re scarcha,~d da a 1cCessibilit t:'c�ritic! t Last update: December 27, 2002 http://www.federalreserve.gov/Releases/H 15/update/ 12/31 /2002 FRB:Commercial Paper Rates and Outstandings Page 1 of 3 F'edera,l Reserve Release Commercial 'raper J1k Release I About I Outstandings I historical discount -rates I historical outstandings Year end Data as of December 30, 2002 Commercial Paper Rates and Outstandings Derived from data supplied by The Depository Trust Company Posted December 31, 2002 Discount rates AA AA A2/P2 Term financial nonfinancial nonfinancial 1-day 1.30 1.31 1.57 7-day 1.30 1.32 1.65 15-day 1.29 1.31 1.67 30-day 1.31 1.31 1.81 60-day 1.30 1.30 1.85 90-day 1.30 1.29 1.85 Yield curve Monev market basis 1 7 15 30 60 Gaye to Maturity Finandal — — — Nonfhancial ••••. A2/P2 http://www.federalreserve.gov/Releases/CP/ Percent 1.9 1.8 1.7 1.6 1.5 1A 1.3 1.2 90 12/31/2002 FRB:Commercial Paper Rates and Outstandings Page 2 of 3 Discount rate spread Thirty -day A2/P2 less AA nonfinancial commercial paper (daily) Basis points ► �' v 4 f ►� A��# 150 140 1.30 120 110 100 90 80 70 60 50 40 30 20 10 01 J U L99 01 JAN 00 01 J U L00 01 JAN01 01 J U L01 01 JAN02 01 J U L02 01 JAN03 --- A2/P2 spread, 5—dcr{ rnavinq averacp Discount rate history Thirty -day commercial paper (daily) �IL r A Percent 8 7 6 5 4 3 2 1 01JUL99 01JAN00 01JUL00 01JAN01 01JUL01 01JAN02 01JUL02 01,AN03 —._ Financial — — — Nonfinancal ••-- A2/P2 Outstandings Weekly (Wednesday), seasonally adjusted Billions of dollars Billions of dollars http://www.federalreserve.gov/Releases/CP/ 12/31/2002 FRB:Commercial Paper Rates and Outstandings Page 3 of 3 1300 120 1100 1000 90 { _ 01 JUL99 360 340 320 300 280 260 240 220 200 180 160 140 01 JANOO 01 J U LOO 01 AN01 01 J U L01 01 JAN02 01 J U L02 01 AN03 Fhandal — — — Nrcnfinanaal The daily commercial paper release will usually be available before 11:OOam EST. However, the Federal Reserve makes no guarantee regarding the timing of the daily commercial paper release. When the Federal Reserve is closed on a business day, yields for the previous business day will appear in the historical discount rates table. This policy is subject to change at any time without notice. Commercial paper_outstanding Commercial_i)a-oer outstanding, miscellaneous categories Volume Statistics 200.2:Q3 Release I About I Outst_andin s I Historical discount rates I Historical outstandings I Year-end Home I Statistical_ releases Accessibility) Contact Us Last update: December 31, 2002 W11 http://www.federalreserve.gov/Releases/CP/ 12/31 /2002 LAIF Performance Report Page I of 2 Phil Angelides, State Treasurer Inside the State Treasurer's Office Local Agency Investment Fund LAW Performance Report 1`eporting Date: Effective Date, Quarter Yield: Daily, Year., Life" Quarter Ending 09130102 Apportionment nuts: Erring Ratio: 12/26/02 12124/02 2.34% 2.15% 2A 99% 202 2, 6 3 ,00007199563637577 Fair Value Factor, 1.005020041 Monthly Average For November: 2,301 % http://www.treasurer.ca.gov/laif/performance.htm 12/31/2002 LAIF Performance Report Page 2 of 2 Pooled Money Investment Account Portfolio Composition $50.6 Billion 11/30/02 Corporate Loans Bonds 5.37% Treasuries 1 Z; 1;AC91 Commercie Paper 22.78% I 10.22% CD's/BN's 15.26% Adobe PDF Version of LAI F Performance. Help with -Ado -be- Acrobat PDF * Treasuries * Mortgages Drtgages 0.01% 11 Agencies 0 CD's/BN's 11 Time Deposits a Bankers Acceptances Agencies 26.06% M Commercial Paper Ei Corporate Bonds [I Loans 0 Reverses http://www.treasurer.ca.gov/laif/performance.htm 12/31/2002 - > / z _ { \ c \ 0 & »D / � - / ) cc CY / ! z I cD a) \ \ ) / \ ) ± Co E® %&# \ \g 2 k \ m N 04 / by o 000 00 )/ % »§ m )#§ / - )�� ^ " ` ®` i # G ° / 7� ) CD 0 _ \§ \§§ § coE § / r \ (/ /[ i :, \§ 2 E / ( w E2 § 4 w © ) ƒ kk \ o F- * ° - .6 t \ i ) ■ = \k § 0 022 {c a)(4 0) §� ± 5§3 /) ]00 3& 2 ��I INVESTMENT ADVISORY BOARD Meeting Date: TITLE: January 8, 2003 Pooled Money Investment Board Report for October 2002 BACKGROUND: Correspondence & Written Material Item B The Pooled Money Investment Board Report for October 2002 is included in the agenda packet. RECOMMENDATION: Receive & File Jolin M. Falconer, Finance Director Philip Angelides October 2002 STATE OF CALIFORNIA STATE TREASURER'S OFFICE POOLED MONEY INVESTMENT BOARD REPORT OCTOBER 2002 TABLE OF CONTENTS SUMMARY................................................................. 01 SELECTED INVESTMENT DATA .................................... 02 PORTFOLIO COMPOSITION ........................................ 03 INVESTMENT TRANSACTIONS ..................................... 04 TIMEDEPOSITS........................................................ 23 BANK DEMAND DEPOSITS .......................................... 36 POOLED MONEY INVESTMENT BOARD DESIGNATION... 37 POOLED MONEY INVESTMENT ACCOUNT SUMMARY OF INVESTMENT DATA A COMPARISON OF A OCTOBER 2002 WITH OCTOBER 2001 (DOLLARS IN THOUSANDS) 1. OC74EEt2: 2002 : OGC?13R 2pQ1:: GHRISIGE: Average Daily Portfolio $ 46,175,119 $ 52,290,876 $ -6,115,757 Accrued Earnings $ 97,539 $ 168,087 -70,548 Effective Yield 2.487 3.785 -1.298 1 Average Life -Month End (In Days) 186 191 -5 Total Security Transactions Amount $ 31,458,198 $ 27,612,579 +3,845,619 Number 675 586 +89 Total Time Deposit Transactions Amount $ 1,864,600 $ 2,108,800 -244,200 Number 135 120 +15 Average Workday Investment Activity $ 1,514,673 $ 1,350,972 +163,701 Prescribed Demand Account Balances For Services $ 646,989 $ 554,994 +91,995 For Uncollected Funds $ 110,013 $ 146,011 -35,998 1 PHILIP ANGELIDES TREASURER STATE OF CALIFORNIA INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) October 31, 2002 DIFFERENCE IN PERCENT OF PERCENT OF PORTFOLIO FROM TYPE OF SECURITY AMOUNT PORTFOLIO PRIOR MONTH Government Bills $ 991,399 2.05 -0.17 Bonds 0 0.00 0.00 Notes 5,910,070 12.22 -1.03 Strips 0 0.00 0.00 Total Government $ 6,901,469 14.27 -1.20 Federal Agency Coupons $ 4,721,146 9.76 -1.15 Certificates of Deposit 6,930,365 14.33 +3.43 Bank Notes 1,365,091 2.82 +0.88 Bankers' Acceptances 0 0.00 0.00 Repurchases 0 0.00 0.00 Federal Agency Discount Notes 6,444,945 13.32 +5.58 Time Deposits 5,120,290 10.58 -0.82 GNMAs 704 0.00 0.00 Commercial Paper 11,578,278 23.93 +0.53 FHLMC 6,434 0.01 0.00 Corporate Bonds 2,393,093 4.96 -0.38 Pooled Loans 2,912,598 6.02 -0.70 GF Loans 0.00 0.00 -6.40 Reversed Repurchases 0.00 0.00 -0.23 Total (All Types) $ 48,374,413 100.00 INVESTMENT ACTIVITY OCTOBER 2002 SEPTEMBER 2002 NUMBER AMOUNT NUMBER AMOUNT Pooled Money 675 $ 31,458,198 287 $ 12,967,316 Other 42 839,376 19 141,742 Time Deposits 135 1,864,600 139 1,914,500 Totals 852 $ 34,162,174 445 $ 15,023,558 PMIA Monthly Average Effective Yield 2.487 2.604 Year to Date Yield Last Day of Month 2.601 2.640 6 Commercial Paper 23.93% Tir Pooled Money Investment Account Portfolio Composition $48.3 Billion Loans Corporate 6.02% Treasuries _ _ 14.27% 10.58% C D's/B N's 17.15% 3 tgages 01% Agencies 23.08% 10/31 /02 8 Treasuries ® Mortgages El Agencies 0 CD's/BN's ® Time Deposits 0 Bankers Acceptances ■ Repo 0 Commercial Paper ® Corporate Bonds ❑ Loans Reverses 10/01/02 REDEMPTIONS CD MONTREAL 1.750% 10/01/02 1.750 $ 50,000 18 $ 43,750.00 1.774 CP NCAT 10/01/02 1.970 50,000 1 2,736.11 1.997 CP MORG STAN 10/01/02 2.000 50,000 1 2,777.78 2.027 CP MORG STAN 10/01/02 2.000 50,000 1 2,777.78 2.027 CP MORG STAN 10/01/02 2.000 50,000 1 2,777.78 2.027 CP MORG STAN 10/01/02 2.000 50,000 1 2,777.78 2.027 CP MORG STAN 10/01/02 2.000 50,000 1 2,777.78 2.027 CP MORG STAN 10/01/02 2.000 50,000 1 2,777.78 2.027 CP MORG STAN 10/01/02 1.770 50,000 11 27,041.66 1.795 CP MORG STAN 10/01/02 1.770 50,000 11 27,041.66 1.795 CP MORG STAN 10/01/02 1.770 50,000 12 29,500.00 1.795 CP MORG STAN 10/01/02 1.770 50,000 12 29,500.00 1.795 CP MORG STAN 10/01/02 1.770 50,000 12 29,500.00 1.795 CP MORG STAN 10/01/02 1.770 50,000 12 29,500.00 1.795 CP GECC 10/01/02 1.770 30,000 15 22,125.00 1.795 CP CAMPBELL 10/01/02 1.780 25,000 28 34,611.11 1.807 CP MORG STAN 10/01/02 1.730 50,000 40 96,111.11 1.757 CP MORG STAN 10/01/02 1.730 50,000 40 96,111.11 1.757 CP KODAK 10/01/02 2.050 30,000 42 71,750.00 2.083 CP CITICORP 10/01/02 1.730 50,000 46 110,527.78 1.757 CP CITICORP 10/01/02 1.730 50,000 46 110,527.78 1.757 CP GEN MILLS 10/01/02 1.900 31,000 47 76,897.22 1.931 CP GEN MILLS 10/01/02 1.900 50,000 47 124,027.78 1.931 CP SALOMON 10/01/02 1.700 20,000 53 50,055.56 1.727 CP WYETH 10/01/02 1.880 25,000 53 69,194.44 1.911 CP WYETH 10/01/02 1.880 50,000 53 138,388.89 1.911 CP SALOMON 10/01/02 1.700 50,000 53 125,138.89 1.727 CP SALOMON 10/01/02 1.700 50,000 53 125,138.89 1.727 CP SALOMON 10/01/02 1.700 50,000 53 125,138.89 1.727 CP AT & T 10/01/02 2.090 50,000 53 153,847.22 2.125 CP GMAC 10/01/02 2.000 50,000 54 150,000.00 2.033 CP GMAC 10/01/02 2.000 50,000 54 150,000.00 2.033 CP GECC 10/01/02 1.750 50,000 61 148,263.89 1.779 CP GECC 10/01/02 1.750 50,000 61 148,263.89 1.779 CP SALOMON 10/01/02 1.780 50,000 99 244,750.00 1.813 CP SALOMON 10/01/02 1.780 50,000 99 244,750.00 1.813 CP SALOMON 10/01/02 1.780 50,000 99 244,750.00 1.813 CP SALOMON 10/01/02 1.780 50,000 99 244,750.00 1.813 CP GEN MILLS 10/01/02 2.020 20,000 102 114,466.67 2.059 CP SRAC 10/01/02 2.300 50,000 126 402,500.00 2.350 DISC NOTES FNMA 10/01/02 1.750 50,000 119 289,236.11 1.784 DISC NOTES FNMA 10/01/02 1.750 50,000 119 289,236.11 1.784 DISC NOTES FNMA 10/01/02 1.750 50,000 119 289,236.11 1.784 DISC NOTES FNMA 10/01/02 1.750 50,000 119 289,236.11 1.784 DISC NOTES FNMA 10/01/02 1.750 50,000 119 289,236.11 1.784 DISC NOTES FNMA 10/01/02 1.750 50,000 119 289,236.11 1.784 FFCB 2.500% 10/01/02 2.500 25,000 365 625,000.00 2.499 FFCB 2.500% 10/01/02 2.500 50,000 365 1,250,000.00 2.499 4 10/01/02 REDEMPTIONS (continued) FFCB 2.500% 10/01/02 2.500 50,000 365 1,250,000.00 2.499 FFCB 2.500% 10/01/02 2.500 50,000 365 1,250,000.00 2.499 FFCB 2.500% 10/01/02 2.500 50,000 365 1,250,000.00 2.499 FFCB 2.500% 10/01/02 2.500 50,000 365 1,250,000.00 2.499 FFCB 2.500% 10/01/02 2.500 50,000 365 1,250,000.00 2.499 PURCHASES CD MONTREAL 1.740% 10/31/02 1.740 50,000 CD MONTREAL 1.740% 10/31/02 1.740 50,000 CD COMMERZBK 1.770% 10/31/02 1.770 50,000 CD COMMERZBK 1.770% 10/31/02 1.770 50,000 CD NOVA SCOT 1.740% 10/31/02 1.740 50,000 CD NOVA SCOT 1.740% 10/31/02 1.740 50,000 CP FMCC 01/29/02 2.120 50,000 CP FMCC 01/29/02 2.120 50,000 CP NCAT 10/02/02 1.870 30,000 CP NCAT 10/02/02 1.870 50,000 CP BEAR 10/11/02 1.780 50,000 CP GECC 10/25/02 1.750 50,000 CP GECC 10/25/02 1.750 50,000 CP GECC 10/25/02 1.750 50,000 CP GECC 10/25/02 1.750 50,000 CP SAFEWAY 11/04/02 1.860 25,000 CP SALOMON 11/04/02 1.740 50,000 CP AMER EXP 11/13/02 1.740 50,000 CP AMER EXP 11/13/02 1.740 50,000 CP GMAC 11/20/02 2.000 25,000 CP GMAC 11/20/02 2.000 50,000 CP SRAC 01/29/03 2.150 50,000 10/02/02 REDEMPTIONS CP NCAT 10/02/02 1.870 30,000 1 1,558.33 1.896 CP NCAT 10/02/02 1.870 50,000 1 2,597.22 1.896 CP GECC 10/02/02 1.760 50,000 8 19,555.56 1.785 CP TEXT FIN 10/02/02 1.880 20,000 54 56,400.00 1.911 CP UNION 10/02/02 2.000 34,167 54 102,501.00 2.033 CP SALOMON 10/02/02 1.760 50,000 72 176,000.00 1.790 CP SALOMON 10/02/02 1.760 50,000 72 176,000.00 1.790 CP SRAC 10/02/02 2.170 50,000 114 343,583.33 2.215 CP SRAC 10/02/02 2.300 50,000 127 405,694.44 2.351 PURCHASES BN WORLD 1.730% 10/29/02 BN WORLD 1.730% 10/29/02 BN WORLD 1.730% 10/29/02 5 1.750 50,000 1.750 50,000 1.750 50,000 10/02/02 PURCHASES (continued) BN WORLD CP SRAC CP GEN MILLS CP SRAC CP FMCC MTN PROCTOR MTN GECC 10/03/02 NO SALES PURCHASES CD UBS CD UBS CP AMER EXP CP GOLDMAN CP GOLDMAN CP ASCC CP COUNTRY CP COUNTRY CP BEAR CP BEAR 10/04/02 REDEMTPIONS CP GECC CP KODAK CP SALOMON CP SALOMON PURCHASES MTN GECC 10/07/02 REDEMPTIONS CP MORG STAN CP MORG STAN CP WYETH CP WYETH CP WYETH RRP TREAS NOTES TREAS NOTES 1.730% 10/29/02 1.750 50,000 11 /01 /02 2.000 50,000 01/14/03 2.010 20,000 01/14/03 2.150 50,000 02/28/03 2.120 45,000 4.000% 04/30/05 2.193 15,000 5.350% 03/30/06 3.274 20,000 1.730% 11/08/02 1.730 50,000 1.730% 11/08/02 1.730 50,000 10/25/02 1.720 50,000 10/25/02 1.730 50,000 10/25/02 1.730 50,000 10/29/02 1.760 25,000 12/27/02 1.770 25,000 12/27/02 1.770 50,000 01/02/03 1.710 50,000 01/02/03 1.710 50,000 10/04/02 1.760 50,000 10 24,444.44 1.785 10/04/02 2.050 25,000 31 44,131.94 2.082 10/04/02 1.700 41,512 58 113,696.76 1.728 10/04/02 1.700 50,000 58 136,944.44 1.728 6.500% 11 /01 /06 3.270 11,000 10/07/02 1.760 50,000 19 46,444.44 1.786 10/07/02 1.760 50,000 19 46,444.44 1.786 10/07/02 1.860 6,000 88 27,280.00 1.894 10/07/02 1.860 50,000 88 227,333.33 1.894 10/07/02 1.860 50,000 88 227,333.33 1.894 5.250% 05/15/04 1.550 50,000 5.250% 05/15/04 1.550 50,000 C 88 (200,100.70) -1.571 88 (200,100.70) -1.571 10/07/02 PURCHASES CID NCAT 10/08/02 1.750 45,000 CID NCAT 10/08/02 1.750 50,000 CID NCAT 10/08/02 1.750 50,000 CID NCAT 10/08/02 1.750 50,000 CID NCAT 10/08/02 1.750 50,000 10/08/02 REDEMPTIONS CID NCAT 10/08/02 1.750 45,000 1 2,187.50 1.774 CID NCAT 10/08/02 1.750 50,000 1 2,430.56 1.774 CID NCAT 10/08/02 1.750 50,000 1 2,430.56 1.774 CID NCAT 10/08/02 1.750 50,000 1 2,430.56 1.774 CID NCAT 10/08/02 1.750 50,000 1 2,430.56 1.774 CP SALOMON 10/08/02 1.760 50,000 19 46,444.44 1.786 CID SALOMON 10/08/02 1.760 50,000 19 46,444.44 1.786 CID MORG STAN 10/08/02 1.760 50,000 20 48,888.88 1.786 CID MORG STAN 10/08/02 1.760 50,000 20 48,888.88 1.786 CID ASCC 10/08/02 1.760 25,000 21 25,666.67 1.786 CP AMER EXP 10/08/02 1.700 25,000 53 62,569.44 1.727 CID AMER EXP 10/08/02 1.700 50,000 53 125,138.89 1.727 CID SRAC 10/08/02 2.030 50,000 62 174,805.56 2.065 NO PURCHASES 10/09/02 REDEMPTIONS CP NCAT 10/09/02 1.740 25,000 43 51,958.33 1.767 CID NCAT 10/09/02 1.740 50,000 43 103,916.67 1.767 CID AMER EXP 10/09/02 1.700 50,000 63 148,750.00 1.728 PURCHASES CID NCAT 10/10/02 1.730 40,000 CID NCAT 10/10/02 1.730 50,000 CID NCAT 10/10/02 1.730 50,000 PURCHASES c/ TREAS NOTES 5.250% 08/15/03 1.710 8,925 TREAS NOTES 5.250% 08/15/03 1.710 50,000 10/10/02 REDEMPTIONS CID NCAT 10/10/02 1.730 40,000 1 1,922.22 1.754 CP NCAT 10/10/02 1.730 50,000 1 2,402.78 1.754 CID NCAT 10/10/02 1.730 50,000 1 2,402.78 1.754 CID GEN MILLS 10/10/02 1.980 49,500 15 40,837.50 2.009 CID GEN MILLS 10/10/02 1.950 30,000 22 35,750.00 1.979 7 10/10/02 REDEMPTIONS (continued) CP ASCC 10/10/02 1.770 50,000 22 54,083.33 1.796 CP MORG STAN 10/10/02 1.760 50,000 22 53,777.80 1.786 CP MORG STAN 10/10/02 1.760 50,000 22 53,777.80 1.786 SALES c/ TREAS NOTES 5.250% 08/15/03 1.710 8,925 1 431.54 1.733 TREAS NOTES 5.250% 08/15/03 1.710 50,000 1 2,418.46 1.733 PURCHASES CP GEN MILLS 11/04/02 1.950 50,000 CP GEN MILLS 11/04/02 1.950 50,000 PURCHASES c/ TREAS NOTES 7.250% 08/15/04 1.730 33,385 TREAS NOTES 7.250% 08/15/04 1.730 50,000 TREAS NOTES 7.250% 08/15/04 1.730 50,000 TREAS NOTES 7.250% 08/15/04 1.730 50,000 10/11/02 REDEMPTIONS , CP BEAR 10/11/02 1.780 50,000 10 24,722.22 1.805 CP MORG STAN 10/11/02 1.770 50,000 18 44,250.00 1.796 CP MORG STAN 10/11/02 1.770 50,000 18 44,250.00 1.796 CP MORG STAN 10/11/02 1.770 50,000 18 44,250.00 1.796 CP MORG STAN 10/11/02 1.770 50,000 18 44,250.00 1.796 CP MORG STAN 10/11/02 1.770 50,000 18 44,250.00 1.796 CP SALOMON 10/11/02 1.760 50,000 23 56,222.22 1.786 CP SALOMON 10/11/02 1.760 50,000 23 56,222.22 1.786 CP SALOMON 10/11/02 1.760 50,000 23 56,222.22 1.786 CP SALOMON 10/11/02 1.760 50,000 23 56,222.22 1.786 CP ASCC 10/11/02 1.760 50,000 28 68,444.44 1.786 CP RCAPC 10/11/02 1.750 16,249 49 38,704.21 1.778 SALES c/ TREAS NOTES 7.250% 08/15/04 1.730 33,385 1 1,749.70 1.754 TREAS NOTES 7.250% 08/15/04 1.730 50,000 1 2,620.47 1.754 TREAS NOTES 7.250% 08/15/04 1.730 50,000 1 2,620.47 1.754 TREAS NOTES 7.250% 08/15/04 1.730 50,000 1 2,620.47 1.754 PURCHASES CP GMAC 11/20/02 2.030 50,000 CP GECC 01/02/03 1.700 50,000 CP SRAC 01/21/03 2.180 50,000 A 10/15/02 REDEMPTIONS (continued) CP AMER EXP 10/15/02 1.740 25,000 41 49,541.67 1.767 CP ASCC 10/15/02 1.770 25,000 41 50,395.83 1.798 CP AMER EXP 10/15/02 1.740 50,000 41 99,083.33 1.767 CP AMER EXP 10/15/02 1.740 50,000 41 99,083.33 1.767 CP DISNEY 10/15/02 1.900 25,000 42 55,416.67 1.930 CP MORG STAN 10/15/02 1.700 50,000 60 141,666.65 1.728 CP MORG STAN 10/15/02 1.700 50,000 60 141,666.65 1.728 CP MORG STAN 10/15/02 1.700 50,000 60 141,666.65 1.728 CP MORG STAN 10/15/02 1.700 50,000 60 141,666.65 1.728 CP MORG STAN 10/15/02 1.700 50,000 60 141,666.65 1.728 CP HERTZ 10/15/02 2.050 50,000 64 182,222.22 2.086 CP CAFCO 10/15/02 1.740 25,000 81 97,875.00 1.771 CP CRC 10/15/02 1.740 25,000 81 97,875.00 1.771 CP CAFCO 10/15/02 1.740 50,000 81 195,750.00 1.771 CP CRC 10/15/02 1.740 50,000 81 195,750.00 1.771 CP HERTZ 10/15/02 2.230 25,000 124 192,027.78 2.278 CP FCAR 10/15/02 1.830 50,000 127 322,791.67 1.867 CP FCAR 10/15/02 1.830 50,000 127 322,791.67 1.867 MTN ASSOC 6.375% 10/15/02 7.460 10,000 854 1,721,341.67 7.530 PURCHASES CP COUNTRY 12/27/02 1.780 50,000 CP COUNTRY 12/27/02 1.780 50,000 CP MORG STAN 01/14/03 1.750 50,000 CP MORG STAN 01/14/03 1.750 50,000 CP MORG STAN 01/14/03 1.750 50,000 CP MORG STAN 01/14/03 1.750 50,000 CP GECC 02/28/03 1.720 50,000 CP GECC 02/28/03 1.720 50,000 CP GECC 02/28/03 1.720 50,000 CP GECC 02/28/03 1.720 50,000 CP BEAR 02/28/03 1.730 50,000 CP BEAR 02/28/03 1.730 50,000 CP BEAR 02/28/03 1.730 50,000 CP BEAR 02/28/03 1.730 50,000 CP GOLDMAN 02/28/03 1.750 50,000 CP GOLDMAN 02/28/03 1.750 50,000 CP GOLDMAN 02/28/03 1.750 50,000 CP GOLDMAN 02/28/03 1.750 50,000 CP GOLDMAN 02/28/03 1.750 50,000 CP GOLDMAN 02/28/03 1.750 50,000 10/16/02 REDEMPTIONS CP SAFEWAY 10/16/02 1.900 20,000 33 34,833.33 1.929 I7 10/16/02 PURCHASES BN BANC ONE 1.710% 11/18/02 1.710 50,000 BN BANC ONE 1.710% 11/18/02 1.710 50,000 BN WORLD 1.730% 12/02/02 1.750 50,000 BN WORLD 1.730% 12/02/02 1.750 50,000 CD ABN AMRO 1.730% 11/27/02 1.720 50,000 CD ABN AMRO 1.730% 11/27/02 1.720 50,000 CD ABN AMRO 1.730% 11/27/02 1.720 50,000 CD ABN AMRO 1.730% 11/27/02 1.720 50,000 CD CR SUISSE 1.815% 02/03/03 1.730 25,000 CD CR SUISSE 1.815% 02/03/03 1.730 50,000 CD MONTREAL 1.710% 02/28/03 1.710 50,000 CD MONTREAL 1.710% 02/28/03 1.710 50,000 CD MONTREAL 1.710% 02/28/03 1.710 50,000 CD MONTREAL 1.710% 02/28/03 1.710 50,000 CD SOC GEN 1.710% 02/28/03 1.710 50,000 CD SOC GEN 1.710% 02/28/03 1.710 50,000 CD CIBC 1.720% 02/28/03 1.720 50,000 CD CIBC 1.720% 02/28/03 1.720 50,000 CD CIBC 1.720% 02/28/03 1.720 50,000 CD CIBC 1.720% 02/28/03 1.720 50,000 CD NOVA SCOT 1.730% 02/28/03 1.730 50,000 CD NOVA SCOT 1.730% 02/28/03 1.730 50,000 CD RABO 1.710% 03/03/03 1.700 50,000 CD RABO 1.710% 03/03/03 1.700 50,000 CD SVENSKA 1.730% 03/26/03 1.720 50,000 CD SVENSKA 1.730% 03/26/03 1.720 50,000 CD SVENSKA 1.730% 03/26/03 1.720 50,000 CD SVENSKA 1.730% 03/26/03 1.720 50,000 CD SVENSKA 1.730% 03/28/03 1.720 50,000 CD SVENSKA 1.730% 03/28/03 1.720 50,000 CD SVENSKA 1.730% 03/28/03 1.720 50,000 CD SVENSKA 1.730% 03/28/03 1.720 50,000 CP GE 10/25/02 1.760 50,000 CP GE 10/25/02 1.760 50,000 CP GE 10/25/02 1.760 50,000 CP GE 10/25/02 1.760 50,000 CP GE 10/25/02 1.760 50,000 CP GE 10/25/02 1.760 50,000 CP BEAR 10/25/02 1.770 50,000 CP BEAR 10/25/02 1.770 50,000 CP GECC 10/29/02 1.760 50,000 CP GECC 10/29/02 1.760 50,000 CP CAFCO 11/27/02 1.740 50,000 CP CAFCO 11/27/02 1.740 50,000 CP CAFCO 11/27/02 1.740 50,000 CP GEN MILLS 12/02/02 2.000 41,500 CP DISNEY 12/02/02 1.910 50,000 CP MORG STAN 12/02/02 1.750 50,000 10 10/16/02 PURCHASES (continued) CID MORG STAN 12/02/02 1.750 50,000 CID MORG STAN 12/02/02 1.750 50,000 CID MORG STAN 12/02/02 1.750 50,000 CID W/F 12/26/02 1.720 50,000 CID W/F 12/26/02 1.720 50,000 CID SAFEWAY 12/27/02 1.850 30,000 CP COUNTRY 12/27/02 1.800 50,000 CID COUNTRY 12/27/02 1.800 50,000 CID W/F 12/27/02 1.720 50,000 CID W/F 12/27/02 1.720 50,000 CID BARTON 01/02/03 1.730 35,000 CID BARTON 01/02/03 1.730 50,000 CID BARTON 01/02/03 1.730 50,000 CP BARTON 01/02/03 1.730 50,000 CID GOLDMAN 01/02/03 1.750 50,000 CID GOLDMAN 01/02/03 1.750 50,000 CID SALOMON 01/02/03 1.730 50,000 CID SALOMON 01/02/03 1.730 50,000 CID SALOMON 01/02/03 1.730 50,000 CP SALOMON 01/02/03 1.730 50,000 CP SALOMON 01/29/03 1.740 50,000 CID SALOMON 01/29/03 1.740 50,000 CID SALOMON 01/29/03 1.740 50,000 CID SALOMON 01/29/03 1.740 50,000 CID GOLDMAN 01/29/03 1.750 50,000 CID GOLDMAN 01/29/03 1.750 50,000 DISC NOTES FHLB 01/10/03 1.670 13,822 DISC NOTES FHLB 01/10/03 1.670 50,000 DISC NOTES FHLB 01/10/03 1.670 50,000 DISC NOTES FHLB 01/10/03 1.670 50,000 DISC NOTES FHLB 01/10/03 1.670 50,000 DISC NOTES FHLMC 01/02/03 1.670 2,386 DISC NOTES FHLMC 11/27/02 1.670 22,000 DISC NOTES FHLMC 12/27/02 1.690 50,000 DISC NOTES FHLMC 12/27/02 1.690 50,000 DISC NOTES FHLMC 12/27/02 1.690 50,000 DISC NOTES FHLMC 12/27/02 1.690 50,000 DISC NOTES FHLMC 01/02/03 1.670 50,000 DISC NOTES FHLMC 01/02/03 1.670 50,000 DISC NOTES FHLMC 01/02/03 1.670 50,000 DISC NOTES FHLMC 01/02/03 1.670 50,000 DISC NOTES FHLMC 01/02/03 1.670 50,000 DISC NOTES FHLMC 01/02/03 1.670 50,000 DISC NOTES FHLMC 01/29/03 1.630 50,000 DISC NOTES FHLMC 01/29/03 1.630 50,000 DISC NOTES FHLMC 01/29/03 1.630 50,000 DISC NOTES FHLMC 01/29/03 1.630 50,000 DISC NOTES FHLMC 02/20/03 1.630 50,000 11 10/16/02 PURCHASES (continued) DISC NOTES FHLMC 02/20/03 1.630 50,000 DISC NOTES FHLMC 03/26/03 1.630 50,000 DISC NOTES FHLMC 03/26/03 1.630 50,000 DISC NOTES FHLMC 03/26/03 1.630 50,000 DISC NOTES FHLMC 03/26/03 1.630 50,000 DISC NOTES FHLMC 03/26/03 1.630 50,000 DISC NOTES FHLMC 03/26/03 1.630 50,000 DISC NOTES FHLMC 03/28/03 1.630 50,000 DISC NOTES FHLMC 03/28/03 1.630 50,000 DISC NOTES FHLMC 03/28/03 1.630 50,000 DISC NOTES FHLMC 03/28/03 1.630 50,000 DISC NOTES FHLMC 03/28/03 1.630 50,000 DISC NOTES FHLMC 03/28/03 1.630 50,000 DISC NOTES FNMA 12/31/02 1.670 50,000 DISC NOTES FNMA 12/31/02 1.670 50,000 DISC NOTES FNMA 12/31/02 1.670 50,000 DISC NOTES FNMA 12/31/02 1.670 50,000 DISC NOTES FNMA 01/08/03 1.690 10,000 DISC NOTES FNMA 01/08/03 1.690 50,000 DISC NOTES FNMA 01/08/03 1.690 50,000 DISC NOTES FNMA 01/08/03 1.690 50,000 DISC NOTES FNMA 02/28/03 1.620 50,000 DISC NOTES FNMA 02/28/03 1.620 50,000 DISC NOTES FNMA 02/28/03 1.620 50,000 DISC NOTES FNMA 02/28/03 1.620 50,000 DISC NOTES FNMA 02/28/03 1.620 50,000 DISC NOTES FNMA 02/28/03 1.620 50,000 DISC NOTES FNMA 02/28/03 1.620 50,000 DISC NOTES FNMA 02/28/03 1.620 50,000 DISC NOTES FNMA 02/28/03 1.650 50,000 DISC NOTES FNMA 02/28/03 1.650 50,000 DISC NOTES FNMA 03/26/03 1.650 28,376 DISC NOTES FNMA 03/26/03 1.650 50,000 DISC NOTES FNMA 03/26/03 1.650 50,000 DISC NOTES FNMA 03/26/03 1.650 50,000 10/17/02 NO SALES PURCHASES BN WORLD 1.750% 11/12/02 1.760 50,000 BN WORLD 1.750% 11/12/02 1.760 50,000 BN WORLD 1.750% 11/12/02 1.760 50,000 BN WORLD 1.750% 11/12/02 1.760 50,000 CD W/F 1.750% 11/20/02 1.740 15,000 CD W/F 1.750% 11/20/02 1.740 50,000 CD BARCLAYS 1.760% 12/02/02 1.750 50,000 CD BARCLAYS 1.760% 12/02/02 1.750 50,000 12 10/17/02 PURCHASES (continued) CD US BANK 1.720% 01/31/03 1.720 50,000 CD US BANK 1.720% 01/31/03 1.720 50,000 CD US BANK 1.720% 02/28/03 1.720 50,000 CD US BANK 1.720% 02/28/03 1.720 50,000 CD CR AGRIC 1.730% 02/28/03 1.730 50,000 CD CR AGRIC 1.730% 02/28/03 1.730 50,000 CD CR AGRIC 1.730% 02/28/03 1.730 50,000 CD CR AGRIC 1.730% 02/28/03 1.730 50,000 CD R/B CANADA 1.740% 02/28/03 1.730 50,000 CD ABN AMRO 1.720% 02/28/03 1.710 50,000 CD ABN AMRO 1.720% 02/28/03 1.710 50,000 CD ABN AMRO 1.720% 02/28/03 1.710 50,000 CD ABN AMRO 1.720% 02/28/03 1.710 50,000 CD ANZ 1.745% 02/28/03 1.740 50,000 CD ANZ 1.745% 02/28/03 1.740 50,000 CD ANZ 1.745% 02/28/03 1.740 50,000 CD ANZ 1.745% 02/28/03 1.740 50,000 CP NCAT 10/25/02 1.760 50,000 CP NCAT 10/25/02 1.760 50,000 CP NCAT 10/25/02 1.760 50,000 CP NCAT 10/25/02 1.760 50,000 CP W/F 10/25/02 1.750 50,000 CP ASCC 11/04/02 1.770 43,000 CP ASCC 11/04/02 1.770 50,000 CP SALOMON 11/04/02 1.750 50,000 CP SALOMON 11/04/02 1.750 50,000 CP SALOMON 11/04/02 1.750 50,000 CP WYETH 11/20/02 1.970 50,000 CP CITICORP 11/25/02 1.760 50,000 CP CITICORP 11/25/02 1.760 50,000 CP GECC 12/02/02 1.760 50,000 CP GECC 12/02/02 1.760 50,000 CP GECC 12/02/02 1.760 50,000 CP GECC 12/02/02 1.760 50,000 CP MORG STAN 12/02/02 1.760 50,000 CP MORG STAN 12/02/02 1.760 50,000 CP MORG STAN 12/02/02 1.760 50,000 CP MORG STAN 12/02/02 1.760 50,000 DISC NOTES FHLMC 12/26/02 1.690 50,000 DISC NOTES FHLMC 12/26/02 1.690 50,000 DISC NOTES FHLMC 12/26/02 1.690 50,000 DISC NOTES FHLMC 01/09/03 1.680 44,506 DISC NOTES FHLMC 01/09/03 1.680 50,000 DISC NOTES FHLMC 01/09/03 1.680 50,000 DISC NOTES FHLMC 02/28/03 1.660 50,000 DISC NOTES FHLMC 02/28/03 1.660 50,000 DISC NOTES FNMA 02/26/03 1.680 38,329 DISC NOTES FNMA 02/26/03 1.680 50,000 13 10/17/02 PURCHASES (continued) DISC NOTES FNMA 02/28/03 1.660 50,000 DISC NOTES FNMA 02/28/03 1.660 50,000 DISC NOTES FNMA 02/28/03 1.670 50,000 DISC NOTES FNMA 02/28/03 1.670 50,000 DISC NOTES FNMA 03/21/03 1.660 50,000 MTN B/A 7.875% 05/16/05 2.725 14,372 MTN GMAC 7.500% 07/15/05 6.477 10,000 PURCHASES c/ TREAS NOTES 3.375% 04/30/04 1.750 46,635 TREAS NOTES 3.375% 04/30/04 1.750 50,000 TREAS NOTES 3.375% 04/30/04 1.750 50,000 TREAS NOTES 3.375% 04/30/04 1.750 50,000 10/18/02 SALES c/ TREAS NOTES 3.375% 04/30/04 1.750 46,635 1 2,305.87 1.774 TREAS NOTES 3.375% 04/30/04 1.750 50,000 1 2,472.12 1.774 TREAS NOTES 3.375% 04/30/04 1.750 50,000 1 2,472.12 1.774 TREAS NOTES 3.375% 04/30/04 1.750 50,000 1 2,472.12 1.774 PURCHASES CP CAFCO 10/21/02 1.700 50,000 CP CAFCO 10/21/02 1.700 50,000 CP NCAT 10/21/02 1.720 50,000 CP NCAT 10/21/02 1.720 50,000 CP NCAT 10/21/02 1.720 50,000 10/21/02 REDEMPTIONS CD MONTREAL 1.890% 10/21/02 1.890 40,000 151 317,100.00 1.916 CD CR AGRIC 1.890% 10/21/02 1.890 50,000 151 396,375.00 1.916 CD CR AGRIC 1.890% 10/21/02 1.890 50,000 151 396,375.00 1.916 CP CAFCO 10/21/02 1.700 50,000 3 7,083.33 1.723 CP CAFCO 10/21/02 1.700 50,000 3 7,083.33 1.723 CP NCAT 10/21/02 1.720 50,000 3 7,166.67 1.744 CP NCAT 10/21/02 1.720 50,000 3 7,166.67 1.744 CP NCAT 10/21/02 1.720 50,000 3 7,166.67 1.744 CP SAFEWAY 10/21/02 1.880 50,000 26 67,888.89 1.908 CP GMAC 10/21/02 2.000 50,000 33 91,666.67 2.031 CP GMAC 10/21/02 2.000 50,000 33 91,666.67 2.031 CP TEXT FIN 10/21/02 1.890 25,000 38 49,875.00 1.920 CP MORG STAN 10/21/02 1.760 50,000 38 92,888.88 1.787 CP CITICORP 10/21/02 1.730 50,000 63 151,375.00 1.759 CP CITICORP 10/21/02 1.730 50,000 63 151,375.00 1.759 14 10/21/02 REDEMPTIONS (continued) CP CITICORP CP CITICORP CP CITICORP CP FCAR CP FCAR CP GECC CP GECC CP GECC CP GECC CP GECC PURCHASES CP NCAT CP NCAT CP NCAT CP NCAT CP NCAT CP TEXT FIN CP SAFEWAY CP GMAC CP GMAC CP COUNTRY CP COUNTRY CP COUNTRY DISC NOTES FNMA DISC NOTES FNMA PURCHASES c/ TREAS NOTES TREAS NOTES TREAS NOTES 10/22/02 REDEMPTIONS 10/21/02 1.700 25,000 70 82,638.89 1.729 10/21/02 1.700 50,000 70 165,277.78 1.729 10/21/02 1.700 50,000 70 165,277.78 1.729 10/21/02 1.920 43,000 151 346,293.33 1.962 10/21/02 1.920 50,000 151 402,666.67 1.962 10/21/02 1.900 50,000 151 398,472.22 1.941 10/21/02 1.900 50,000 151 398,472.22 1.941 10/21/02 1.900 40,000 152 320,888.89 1.941 10/21/02 1.900 50,000 152 401,111.11 1.941 10/21/02 1.900 50,000 152 401,111.11 1.941 10/22/02 1.760 50,000 10/22/02 1.760 50,000 10/22/02 1.760 50,000 10/22/02 1.760 50,000 10/22/02 1.760 50,000 10/25/02 1.900 16,414 10/29/02 1.870 50,000 11/25/02 2.050 20,000 11/25/02 2.050 50,000 12/27/02 1.790 50,000 12/27/02 1.790 50,000 12/27/02 1.790 50,000 11 /27/02 1.680 50,000 11/27/02 1.680 50,000 6.500% 10/15/06 1.740 3,245 6.500% 10/15/06 1.740 50,000 6.500% 10/15/06 1.740 50,000 CP NCAT 10/22/02 1.760 50,000 1 2,444.44 1.784 CP NCAT 10/22/02 1.760 50,000 1 2,444.44 1.784 CP NCAT 10/22/02 1.760 50,000 1 2,444.44 1.784 CP NCAT 10/22/02 1.760 50,000 1 2,444.44 1.784 CP NCAT 10/22/02 1.760 50,000 1 2,444.44 1.784 SALES c/ TREAS NOTES 6.500% 10/15/06 1.740 3,245 1 174.48 1.764 TREAS NOTES 6.500% 10/15/06 1.740 50,000 1 2,691.92 1.764 TREAS NOTES 6.500% 10/15/06 1.740 50,000 1 2,691.92 1.764 15 10/22/02 PURCHASES CP NCAT 10/23/02 1.730 25,000 CP NCAT 10/23/02 1.730 50,000 CP NCAT 10/23/02 1.730 50,000 CP COUNTRY 10/23/02 1.770 50,000 CP SALOMON 10/24/02 1.730 50,000 CP SALOMON 10/25/02 1.730 50,000 CP SALOMON 10/25/02 1.730 50,000 CP AMER EXP 12/02/02 1.750 50,000 CP AMER EXP 12/02/02 1.750 50,000 CP GECC 12/09/02 1.770 50,000 CP GECC 12/09/02 1.770 50,000 CP GECC 12/09/02 1.770 50,000 CP GECC 12/09/02 1.770 50,000 CP GECC 12/10/02 1.770 50,000 CP GECC 12/10/02 1.770 50,000 CP GECC 12/10/02 1.770 50,000 CP GECC 12/10/02 1.770 50,000 CP CAMPBELL 01/27/03 1.820 25,000 DISC NOTES FNMA 03/26/02 1.700 50,000 10/23/02 REDEMPTIONS CP NCAT 10/23/02 1.730 25,000 1 1,201.39 1.754 CP NCAT 10/23/02 1.730 50,000 1 2,402.78 1.754 CP NCAT 10/23/02 1.730 50,000 1 2,402.78 1.754 CP COUNTRY 10/23/02 1.770 50,000 1 2,458.33 1.794 CP CRC 10/23/02 1.730 25,000 62 74,486.11 1.759 CP CRC 10/23/02 1.730 50,000 62 148,972.22 1.759 CP GECC 10/23/02 1.900 50,000 153 403,750.00 1.942 CP GECC 10/23/02 1.900 50,000 153 403,750.00 1.942 PURCHASES CD WACHOVIA 1.750% 03/03/03 1.750 50,000 CD WACHOVIA 1.750% 03/03/03 1.750 50,000 CD WACHOVIA 1.750% 03/03/03 1.750 50,000 CD WACHOVIA 1.750% 03/03/03 1.750 50,000 CP GECC 10/24/02 1.710 50,000 CP GECC 10/24/02 1.710 50,000 CP GECC 10/24/02 1.710 50,000 CP GECC 10/24/02 1.710 50,000 CP AT&T 11/25/02 2.140 25,000 CP MORG STAN 12/02/02 1.770 50,000 CP MORG STAN 12/02/02 1.770 50,000 CP FCAR 12/09/02 1.760 50,000 CP DEERE 01/29/03 2.030 25,000 CP DEERE 01/29/03 2.030 50,000 16 10/24/02 REDEMPTIONS CID GECC 10/24/02 1.710 50,000 1 2,375.00 1.733 CID GECC 10/24/02 1.710 50,000 1 2,375.00 1.733 CID GECC 10/24/02 1.710 50,000 1 2,375.00 1.733 CID GECC 10/24/02 1.710 50,000 1 2,375.00 1.733 CID SALOMON 10/24/02 1.730 50,000 2 4,805.55 1.754 PURCHASES CP NCAT 10/25/02 1.740 50,000 CID NCAT 10/25/02 1.740 50,000 CP CRC 01/21/03 1.780 35,000 CID CRC 01/21/03 1.780 50,000 CID CRC 01/21/03 1.780 50,000 CID CRC 01/21/03 1.780 50,000 CID HERTZ 01/29/03 2.270 50,000 CID MERRILL 02/03/03 1.750 43,135 CID MERRILL 02/03/03 1.750 50,000 10/25/02 REDEMPTIONS CD NOVA SCOT 1.730% 10/25/02 1.730 50,000 30 72,083.33 1.754 CD NOVA SCOT 1.730% 10/25/02 1.730 50,000 30 72,083.33 1.754 CD UBS 1.740% 10/25/02 1.730 50,000 30 72,083.93 1.754 CD UBS 1.740% 10/25/02 1.730 50,000 30 72,083.93 1.754 CD UBS 1.740% 10/25/02 1.730 50,000 30 72,083.93 1.754 CID NCAT 10/25/02 1.740 50,000 1 2,416.67 1.764 CP NCAT 10/25/02 1.740 50,000 1 2,416.67 1.764 CID SALOMON 10/25/02 1.730 50,000 3 7,208.34 1.754 CP SALOMON 10/25/02 1.730 50,000 3 7,208.34 1.754 CID TEXT FIN 10/25/02 1.900 16,414 4 3,465.18 1.926 CID W/F 10/25/02 1.750 50,000 8 19,444.44 1.774 CID NCAT 10/25/02 1.760 50,000 8 19,555.56 1.785 CID NCAT 10/25/02 1.760 50,000 8 19,555.56 1.785 CID NCAT 10/25/02 1.760 50,000 8 19,555.56 1.785 CID NCAT 10/25/02 1.760 50,000 8 19,555.56 1.785 CID GE 10/25/02 1.760 50,000 9 22,000.00 1.785 CID GE 10/25/02 1.760 50,000 9 22,000.00 1.785 CP GE 10/25/02 1.760 50,000 9 22,000.00 1.785 CP GE 10/25/02 1.760 50,000 9 22,000.00 1.785 CID GE 10/25/02 1.760 50,000 9 22,000.00 1.785 CID GE 10/25/02 1.760 50,000 9 22,000.00 1.785 CID BEAR 10/25/02 1.770 50,000 9 22,125.00 1.795 CID BEAR 10/25/02 1.770 50,000 9 22,125.00 1.795 CP AMER EXP 10/25/02 1.720 50,000 22 52,555.56 1.745 CID GOLDMAN 10/25/02 1.730 50,000 22 52,861.11 1.755 CID GOLDMAN 10/25/02 1.730 50,000 22 52,861.11 1.755 CP GECC 10/25/02 1.750 50,000 24 58,333.33 1.776 CID GECC 10/25/02 1.750 50,000 24 58,333.33 1.776 17 10/25/02 REDEMPTIONS (continued) CP GECC 10/25/02 1.750 50,000 24 58,333.33 1.776 CP GECC 10/25/02 1.750 50,000 24 58,333.33 1.776 CP FMCC 10/25/02 2.000 50,000 30 83,333.33 2.031 CP CITICORP 10/25/02 1.740 50,000 31 74,916.67 1.766 CP CITICORP 10/25/02 1.740 50,000 31 74,916.67 1.766 DISC NOTES FNMA 10/25/02 1.680 50,000 31 72,333.33 1.705 DISC NOTES FNMA 10/25/02 1.680 50,000 31 72,333.33 1.705 DISC NOTES FNMA 10/25/02 1.680 50,000 31 72,333.33 1.705 PURCHASES CP NCAT 03/26/03 1.760 25,000 CP NCAT 03/26/03 1.760 50,000 CP NCAT 03/26/03 1.760 50,000 CP BEAR 03/26/03 1.770 25,000 CP BEAR 03/26/03 1.770 50,000 10/28/02 REDEMPTIONS CD HSBC 1.920% 10/28/02 1.920 20,000 153 163,200.00 1.946 CD HSBC 1.920% 10/28/02 1.920 50,000 153 408,000.00 1.946 CP SRAC 10/28/02 2.300 50,000 150 479,166.67 2.354 CP GECC 10/28/02 1.900 50,000 158 416,944.44 1.942 CP GECC 10/28/02 1.900 50,000 158 416,944.44 1.942 DISC NOTES FHLMC 10/28/02 1.790 50,000 146 362,972.22 1.828 DISC NOTES FHLMC 10/28/02 1.790 50,000 146 362,972.22 1.828 PURCHASES CP MORG STAN 12/09/02 1.750 50,000 CP MORG STAN 12/09/02 1.750 50,000 CP GECC 12/26/02 1.750 25,000 CP DISNEY 01/21/03 1.970 50,000 CP KODAK 01/21/03 2.150 50,000 CP TEXT FIN 01/27/03 2.000 25,000 CP SRAC 03/03/03 2.300 50,000 CP HOUSEHOLD 03/28/03 2.170 50,000 CP HOUSEHOLD 03/28/03 2.170 50,000 10/29/02 REDEMPTIONS BN WORLD 1.730% 10/29/02 1.750 50,000 27 65,624.00 1.774 BN WORLD 1.730% 10/29/02 1.750 50,000 27 65,624.00 1.774 BN WORLD 1.730% 10/29/02 1.750 50,000 27 65,624.00 1.774 BN WORLD 1.730% 10/29/02 1.750 50,000 27 65,624.00 1.774 CD TORONTO 1.740% 10/29/02 1.740 50,000 95 229,583.33 1.764 CD TORONTO 1.740% 10/29/02 1.740 50,000 95 229,583.33 1.764 CD SOC GEN 1.840% 10/29/02 1.830 50,000 145 368,556.41 1.855 18 10/29/02 REDEMPTIONS (continued) CD SOC GEN 1.840% 10/29/02 1.830 50,000 145 368,556.41 1.855 CD SOC GEN 1.840% 10/29/02 1.830 50,000 145 368,556.41 1.855 CD UBS 1.870% 10/29/02 1.865 30,000 145 225,358.67 1.890 CD UBS 1.870% 10/29/02 1.865 50,000 145 375,597.78 1.890 CD UBS 1.870% 10/29/02 1.865 50,000 145 375,597.78 1.890 CD US BANK 1.900% 10/29/02 1.900 40,000 152 320,888.89 1.926 CD US BANK 1.900% 10/29/02 1.900 50,000 152 401,111.11 1.926 CD US BANK 1.900% 10/29/02 1.900 50,000 152 401,111.11 1.926 CD HYPO 1.920% 10/29/02 1.910 50,000 154 408,545.12 1.936 CD HYPO 1.920% 10/29/02 1.910 50,000 154 408,545.12 1.936 CD HSBC 1.920% 10/29/02 1.920 50,000 154 410,666.67 1.946 CD HSBC 1.920% 10/29/02 1.920 50,000 154 410,666.67 1.946 CD U/B CALIF 2.100% 10/29/02 2.100 50,000 197 574,583.33 2.129 CD U/B CALIF 2.100% 10/29/02 2.100 50,000 197 574,583.33 2.129 CP SAFEWAY 10/29/02 1.870 50,000 8 20,777.78 1.896 CID GECC 10/29/02 1.760 50,000 13 31,777.78 1.785 CID GECC 10/29/02 1.760 50,000 13 31,777.78 1.785 CID ASCC 10/29/02 1.760 25,000 26 31,777.78 1.786 CID SRAC 10/29/02 2.010 20,000 41 45,783.33 2.042 CID FMCC 10/29/02 2.040 50,000 67 189,833.33 2.076 CID FMCC 10/29/02 2.200 50,000 151 461,388.89 2.251 CID FMCC 10/29/02 2.200 50,000 151 461,388.89 2.251 CID GMAC 10/29/02 2.180 50,000 151 457,194.44 2.230 CID GMAC 10/29/02 2.180 50,000 151 457,194.44 2.230 CP GECC 10/29/02 1.900 50,000 159 419,583.33 1.942 CP GECC 10/29/02 1.900 50,000 159 419,583.33 1.942 DISC NOTES FNMA 10/29/02 1.790 50,000 147 365,458.33 1.828 PURCHASES SBA FR 2.050% 11/25/27 2.050 16,196 10/30/02 REDEMPTIONS MTN FR W/F 6.821 % 10/30/02 6.821 50,000 723 3,593,739.59 3.628 PURCHASES BN BANC ONE 1.570% 02/28/03 1.570 50,000 BN BANC ONE 1.570% 02/28/03 1.570 50,000 CD SOC GEN 1.540% 02/03/03 1.540 50,000 CD SOC GEN 1.540% 02/03/03 1.540 50,000 CD SOC GEN 1.540% 02/03/03 1.540 50,000 CD SOC GEN 1.540% 02/03/03 1.540 50,000 CD CHASE 1.620% 02/03/03 1.620 50,000 CD CHASE 1.620% 02/03/03 1.620 50,000 CD CHASE 1.620% 02/03/03 1.620 50,000 CD CHASE 1.620% 02/03/03 1.620 50,000 19 10/30/02 PURCHASES (continued) CD WACHOVIA 1.570% 02/10/03 1.570 50,000 CD WACHOVIA 1.570% 02/10/03 1.570 50,000 CD WACHOVIA 1.570% 02/10/03 1.570 50,000 CD WACHOVIA 1.570% 02/10/03 1.570 50,000 CD MONTREAL 1.590% 02/10/03 1.590 50,000 CD MONTREAL 1.590% 02/10/03 1.590 50,000 CP SAFEWAY 11/01/02 1.870 50,000 CP TEXT FIN 11/12/02 1.930 25,000 CP WYETH 01/27/03 2.120 50,000 CP JP MORGAN 01/29/03 1.630 50,000 CP JP MORGAN 01/29/03 1.630 50,000 CP JP MORGAN 02/03/03 1.620 50,000 CP JP MORGAN 02/03/03 1.620 50,000 CP GECC 02/10/03 1.610 20,000 CP GECC 02/10/03 1.610 50,000 CP GECC 02/10/03 1.610 50,000 CP GECC 03/03/03 1.610 50,000 CP GECC 03/03/03 1.610 50,000 DISC NOTES FNMA 01/29/03 1.550 4,700 DISC NOTES FNMA 01/29/03 1.550 50,000 DISC NOTES FNMA 01/29/03 1.550 50,000 DISC NOTES FNMA 01/29/03 1.550 50,000 REMIC FNMA 6.500% 05/25/32 6.050 50,000 REMIC FNMA 6.500% 05/25/32 6.050 50,000 REMIC FNMA 6.500% 05/25/32 6.050 50,000 REMIC FNMA 6.500% 05/25/32 6.050 50,000 10/31/02 REDEMPTIONS CD MONTREAL 1.740% 10/31/02 1.740 50,000 30 72,500.00 1.764 CD MONTREAL 1.740% 10/31/02 1.740 50,000 30 72,500.00 1.764 CD NOVA SCOT 1.740% 10/31/02 1.740 50,000 30 72,500.00 1.764 CD NOVA SCOT 1.740% 10/31/02 1.740 50,000 30 72,500.00 1.764 CD COMMERZBK 1.770% 10/31/02 1.770 50,000 30 73,750.00 1.794 CD COMMERZBK 1.770% 10/31/02 1.770 50,000 30 73,750.00 1.794 DISC NOTES FNMA 10/31/02 1.800 50,000 149 372,500.00 1.838 DISC NOTES FNMA 10/31/02 1.800 50,000 149 372,500.00 1.838 PURCHASES CP TEXT FIN 11/01/02 1.970 20,000 CP GECC 11/01/02 1.880 50,000 CP GECC 11/01/02 1.880 50,000 CP GECC 11/01/02 1.880 50,000 CP GECC 11/01/02 1.880 50,000 CP HOUSEHOLD 11/08/02 1.950 30,000 CP FMCC 02/28/03 2.230 50,000 CP FMCC 02/28/03 2.230 50,000 20 10/31/02 PURCHASES (continued) CP FMCC 02/28/03 2.230 50,000 21 a/ The abbreviations indicate the type of security purchased or sold; i.e., (U.S.) Bills, Bonds, Notes, Debentures, Discount Notes and Participation Certificates: Federal National Mortgage Association (FNMA), Farmers Home Administration Notes (FHA), Student Loan Marketing Association (SLMA), Small Business Association (SBA), Negotiable Certificates of Deposit (CD), Negotiable Certificates of Deposit Floating Rate (CD FR), Export Import Notes (EXIM), Bankers Acceptances (BA), Commercial Paper (CP), Government National Mortgage Association (GNMA), Federal Home Loan Bank Notes (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), US Ship Financing Bonds (TITLE XI'S), International Bank of Redevelopment (IBRD), Tennessee Valley Authority (TVA), Medium Term Notes (MTN), Real Estate Mortgage Investment Conduit (REMIC). b/ Purchase or sold yield based on 360 day calculation for discount obligations and Repurchase Agreements. c/ Repurchase Agreement. d/ Par amount of securities purchased, sold or redeemed. e/ Securities were purchased and sold as of the same date. f/ Repurchase Agreement against Reverse Repurchase Agreement. R/ Outright purchase against Reverse Repurchase Agreement. h/ Security "SWAP" transactions. i� Buy back agreement. RRS Reverse Repurchase Agreement. RRP Termination of Reverse Repurchase Agreement. 22 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE ALHAMBRA Bank of East Asia (USA) 08/13/02 1.610 3,000,000.00 02/13/03 Grand National Bank 05/17/02 1.960 6,000,000.00 11/13/02 Grand National Bank 07/12/02 1.770 3,095,000.00 01/14/03 Omni Bank 05/20/02 1.950 2,000,000.00 11/20/02 Omni Bank 08/27/02 1.720 3,000,000.00 02/25/03 Omni Bank 09/05/02 1.710 3,000,000.00 03/07/03 Omni Bank 10/21/02 1.730 2,000,000.00 04/23/03 ARROYO GRANDE Mid -State Bank 05/17/02 1.960 5,000,000.00 11/13/02 Mid -State Bank 06/14/02 1.870 5,000,000.00 12/11/02 Mid -State Bank 07/16/02 1.750 5,000,000.00 01/16/03 Mid -State Bank 08/13/02 1.610 5,000,000.00 02/13/03 Mid -State Bank 09/11/02 1.700 5,000,000.00 03/12/03 Mid -State Bank 10/16/02 1.580 5,000,000.00 04/14/03 BEVERLY HILLS City National Bank 06/03/02 1.930 10,000,000.00 12/09/02 City National Bank 06/03/02 1.930 25,000,000.00 12/09/02 City National Bank 09/09/02 1.640 10,000,000.00 03/10/03 City National Bank 10/17/02 1.620 25,000,000.00 04/15/03 BREA Jackson Federal Bank 07/22/02 1.780 10,000,000.00 01/22/03 Jackson Federal Bank 08/12/02 1.620 10,000,000.00 02/11/03 CALABASAS First Bank of Beverly Hills FSB 08/07/02 1.650 10,000,000.00 02/06/03 First Bank of Beverly Hills FSB 08/28/02 1.740 10,000,000.00 03/03/03 First Bank of Beverly Hills FSB 09/18/02 1.750 10,000,000.00 03/19/03 CAMARILLO First California Bank 10/29/02 1.670 4,000,000.00 01/30/03 First California Bank 09/25/02 1.650 3,000,000.00 03/24/03 CAMERONPARK Western Sierra National Bank 07/16/02 1.770 7,000,000.00 01/16/03 23 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE CAMERON PARK (continued) Western Sierra National Bank 08/15/02 1.650 6,000,000.00 02/14/03 CHICO North State National Bank 07/26/02 1.680 5,000,000.00 01/24/03 North State National Bank 08/16/02 1.630 1,500,000.00 02/14/03 North State National Bank 09/11/02 1.710 1,000,000.00 03/12/03 Tri Counties Bank 09/10/02 1.700 10,000,000.00 12/09/02 Tri Counties Bank 09/17/02 1.700 10,000,000.00 12/16/02 CHULA VISTA North Island Federal Credit Union 07/17/02 1.780 20,000,000.00 12/17/02 North Island Federal Credit Union 10/01/02 1.690 5,000,000.00 12/23/02 CITY OF INDUSTRY EverTrust Bank 06/11/02 1.890 6,000,000.00 12/10/02 EverTrust Bank 07/29/02 1.710 6,000,000.00 01/27/03 CONCORD CA State 9 Credit Union 08/20/02 1.670 10,000,000.00 11/18/02 DUBLIN Operating Engineers FCU 06/12/02 1.900 10,000,000.00 12/11/02 Operating Engineers FCU 08/13/02 1.610 5,000,000.00 02/13/03 Operating Engineers FCU 10/10/02 1.580 5,000,000.00 04/08/03 EL CENTRO Valley Independent Bank 05/15/02 1.920 7,500,000.00 11/20/02 Valley Independent Bank 05/28/02 1.950 25,000,000.00 11/20/02 Valley Independent Bank 10/28/02 1.710 20,000,000.00 04/28/03 ELSEGUNDO Hawthorne Savings FSB 10/01/02 1.660 30,000,000.00 01/06/03 Hawthorne Savings FSB 07/09/02 1.770 30,000,000.00 01/09/03 Xerox Federal Credit Union 08/16/02 1.640 20,000,000.00 11/15/02 Xerox Federal Credit Union 09/06/02 1.640 7,000,000.00 03/06/03 24 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE FRESNO United Security Bank 05/10/02 1.930 10,000,000.00 11/14/02 United Security Bank 05/14/02 1.930 10,000,000.00 11/14/02 United Security Bank 08/05/02 1.700 15,000,000.00 02/05/03 United Security Bank 10/11/02 1.580 5,000,000.00 04/09/03 FULLERTON Fullerton Community Bank 05/17/02 1.960 9,000,000.00 11/13/02 Fullerton Community Bank 07/26/02 1.710 8,000,000.00 01/23/03 GLENDALE Verdugo Banking Company 07/02/02 1.850 5,000,000.00 01/07/03 Verdugo Banking Company 10/01/02 1.630 5,000,000.00 04/02/03 GOLETA Pacific Capital Bank 06/03/02 1.920 30,000,000.00 12/09/02 Pacific Capital Bank 06/14/02 1.870 30,000,000.00 12/11/02 Pacific Capital Bank 07/25/02 1.740 45,000,000.00 01/23/03 Pacific Capital Bank 08/15/02 1.630 16,000,000.00 02/14/03 Pacific Capital Bank 09/09/02 1.630 10,000,000.00 03/14/03 Pacific Capital Bank 09/17/02 1.710 15,000,000.00 03/14/03 Pacific Capital Bank 10/01/02 1.610 10,000,000.00 04/02/03 Pacific Capital Bank 10/11/02 1.560 10,000,000.00 04/02/03 Pacific Capital Bank 10/29/02 1.710 10,000,000.00 04/29/03 GRANADA HILLS First State Bank of California 09/18/02 1.730 2,000,000.00 03/19/03 First State Bank of California 10/21/02 1.730 3,000,000.00 04/23/03 HUNTINGTON BEACH First Bank and Trust 08/26/02 1.680 2,000,000.00 02/24/03 First Bank and Trust 09/09/02 1.650 12,000,000.00 03/11/03 IRVINE Commercial Capital Bank 06/19/02 1.880 10,000,000.00 12/16/02 Commercial Capital Bank 07/01/02 1.810 6,000,000.00 01/08/03 Commercial Capital Bank 08/26/02 1.670 14,000,000.00 02/21/03 25 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE LA JOLLA Silvergate Bank 08/02/02 1.760 5,000,000.00 01/31/03 Silvergate Bank 09/11/02 1.730 5,000,000.00 03/12/03 LAKEPORT Lake Community Bank 06/26/02 1.900 2,000,000.00 01/15/03 LODI Farmers & Merchant Bk Cen CA 07/10/02 1.790 10,000,000.00 01/10/03 LOS ANGELES Broadway Federal Bank 07/08/02 1.800 2,500,000.00 01/09/03 Broadway Federal Bank 09/09/02 1.660 3,000,000.00 03/11/03 California Center Bank 10/01/02 1.660 10,000,000.00 01/06/03 California Chohung Bank 07/17/02 1.750 1,000,000.00 01/16/03 California Chohung Bank 08/19/02 1.660 4,000,000.00 02/19/03 California Chohung Bank 09/06/02 1.630 5,000,000.00 03/07/03 California Chohung Bank 10/02/02 1.540 3,000,000.00 04/01/03 California Chohung Bank 10/16/02 1.580 800,000.00 04/14/03 California Chohung Bank 10/02/02 1.540 2,500,000.00 04/14/03 Cathay Bank 06/06/02 1.950 30,000,000.00 12/10/02 Cathay Bank 09/25/02 1.660 19,000,000.00 03/24/03 Cathay Bank 10/09/02 1.590 19,000,000.00 04/07/03 Cedars Bank 08/19/02 1.690 2,000,000.00 02/19/03 Cedars Bank 09/06/02 1.650 4,500,000.00 03/05/03 Cedars Bank 10/04/02 1.560 5,000,000.00 04/03/03 Cedars Bank 10/24/02 1.750 4,000,000.00 04/22/03 Eastern International Bank 05/07/02 1.890 900,000.00 11/07/02 Eastern International Bank 06/10/02 1.910 1,000,000.00 12/10/02 Hanmi Bank 08/29/02 1.700 25,000,000.00 12/02/02 Hanmi Bank 07/18/02 1.760 25,000,000.00 01/17/03 Hanmi Bank 10/31/02 1.610 20,000,000.00 01/31/03 Hanmi Bank 09/19/02 1.710 25,000,000.00 03/18/03 Manufacturers Bank 07/31/02 1.760 10,000,000.00 01/27/03 Manufacturers Bank 09/20/02 1.700 20,000,000.00 03/10/03 Manufacturers Bank 09/09/02 1.650 30,000,000.00 03/10/03 Marathon National Bank 07/12/02 1.790 2,000,000.00 01/14/03 Marathon National Bank 08/05/02 1.700 2,000,000.00 02/05/03 Mellon First Business Bank 10/29/02 1.650 25,000,000.00 12/17/02 Mellon First Business Bank 09/18/02 1.730 25,000,000.00 12/17/02 26 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE LOS ANGELES (continued) Mellon First Business Bank 10/29/02 1.660 25,000,000.00 01/10/03 Mellon First Business Bank 07/10/02 1.780 25,000,000.00 01/10/03 Nara Bank, NA 06/17/02 1.870 5,000,000.00 12/16/02 Nara Bank, NA 08/08/02 1.640 10,000,000.00 02/07/03 Nara Bank, NA 10/11/02 1.560 5,000,000.00 04/23/03 Nara Bank, NA 10/21/02 1.710 15,000,000.00 04/23/03 Pacific Union Bank 07/02/02 1.830 10,000,000.00 01/07/03 Pacific Union Bank 09/04/02 1.650 20,000,000.00 03/06/03 Preferred Bank 07/16/02 1.780 6,000,000.00 01/16/03 Preferred Bank 08/08/02 1.670 4,000,000.00 02/07/03 Preferred Bank 08/29/02 1.750 7,000,000.00 02/26/03 Preferred Bank 09/10/02 1.730 9,000,000.00 03/05/03 Preferred Bank 09/18/02 1.740 9,000,000.00 03/21/03 Sae Han Bank 07/15/02 1.750 6,000,000.00 01/15/03 Western Federal Credit Union 10/21/02 1.710 30,000,000.00 04/23/03 Wilshire State Bank 05/06/02 1.940 4,000,000.00 11/06/02 Wilshire State Bank 06/17/02 1.870 2,000,000.00 12/17/02 Wilshire State Bank 06/18/02 1.890 8,000,000.00 12/17/02 Wilshire State Bank 08/06/02 1.680 4,000,000.00 02/05/03 Wilshire State Bank 08/26/02 1.680 4,000,000.00 02/24/03 Wilshire State Bank 10/11/02 1.590 3,000,000.00 04/09/03 Wilshire State Bank 05/14/02 2.420 2,000,000.00 05/13/03 Wilshire State Bank 07/12/02 2.060 4,000,000.00 07/10/03 MANTECA Delta National Bank 07/10/02 1.810 1,000,000.00 01/10/03 MERCED County Bank 06/06/02 1.930 10,000,000.00 12/10/02 County Bank 07/16/02 1.770 5,000,000.00 01/16/03 County Bank 08/26/02 1.680 5,000,000.00 02/24/03 County Bank 10/16/02 1.600 5,000,000.00 04/14/03 MODESTO Valley First Credit Union 10/04/02 1.560 4,000,000.00 04/10/03 MONTEREY PARK Trust Bank FSB 07/01/02 1.800 3,000,000.00 01/02/03 27 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE MONTEREY PARK (continued) Trust Bank FSB 10/01/02 1.640 3,000,000.00 04/01/03 NORTH HIGHLANDS Safe Credit Union 07/15/02 1.750 5,000,000.00 01/15/03 Safe Credit Union 08/15/02 1.630 20,000,000.00 02/14/03 OAKDALE Oak Valley Community Bank 09/10/02 1.680 1,500,000.00 12/09/02 Oak Valley Community Bank 07/12/02 1.770 2,500,000.00 01/14/03 Oak Valley Community Bank 03/22/02 2.640 2,000,000.00 03/20/03 OAKLAND Metropolitian Bank 05/28/02 1.940 1,000,000.00 11/25/02 Metropolitian Bank 09/25/02 1.650 1,000,000.00 03/24/03 Metropolitian Bank 10/28/02 1.700 1,000,000.00 04/28/03 People's Community Partnership FCU 08/21/02 1.680 95,000.00 11/20/02 ONTARIO Citizens Business Bank 05/07/02 1.910 10,000,000.00 11/07/02 Citizens Business Bank 08/22/02 1.690 30,000,000.00 11/20/02 Citizens Business Bank 09/05/02 1.660 25,000,000.00 12/06/02 Citizens Business Bank 09/25/02 1.640 30,000,000.00 03/24/03 Citizens Business Bank 10/04/02 1.550 25,000,000.00 04/03/03 PALO ALTO Bank of Petaluma 08/23/02 1.670 3,500,000.00 02/19/03 Bank of Petaluma 09/11/02 1.720 12,000,000.00 03/10/03 Bank of Santa Clara 08/23/02 1.670 20,000,000.00 02/19/03 Bay Area Bank 07/15/02 1.750 5,000,000.00 01/15/03 Bay Area Bank 10/28/02 1.720 5,000,000.00 04/28/03 Bay Bank of Commerce 10/28/02 1.710 5,000,000.00 04/28/03 Coast Commercial Bank 07/15/02 1.770 5,000,000.00 01/15/03 Coast Commercial Bank 08/23/02 1.680 20,000,000.00 02/19/03 Cupertino National Bank 07/15/02 1.780 10,000,000.00 01/15/03 Cupertino National Bank 07/30/02 1.730 35,000,000.00 01/28/03 Cupertino National Bank 08/23/02 1.680 20,000,000.00 02/19/03 Cupertino National Bank 09/11/02 1.730 10,000,000.00 03/10/03 28 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE PALO ALTO (continued) Golden Gate Bank 08/23/02 1.680 9,000,000.00 02/19/03 Mid -Peninsula Bank 08/23/02 1.680 5,000,000.00 02/19/03 Mid -Peninsula Bank 09/11/02 1.730 10,000,000.00 03/10/03 Mid -Peninsula Bank 10/28/02 1.720 35,000,000.00 04/28/03 Mt. Diablo National Bank 09/11/02 1.730 10,000,000.00 03/10/03 Peninsula Bank of Commerce 08/23/02 1.680 15,000,000.00 02/19/03 PALOS VERDES ESTATES Malaga Bank 06/25/02 1.840 4,000,000.00 12/23/02 Malaga Bank 08/22/02 1.710 2,000,000.00 02/20/03 Malaga Bank 09/12/02 1.710 2,000,000.00 03/13/03 Malaga Bank 10/30/02 1.580 4,000,000.00 05/13/03 Malaga Bank 10/24/02 1.720 4,000,000.00 05/13/03 PASADENA Community Bank 08/09/02 1.610 15,000,000.00 11/08/02 Community Bank 06/21/02 1.810 20,000,000.00 12/19/02 Community Bank 07/11/02 1.780 20,000,000.00 01/10/03 Community Bank 10/23/02 1.720 5,000,000.00 04/15/03 Community Bank 10/15/02 1.570 10,000,000.00 04/15/03 Wescom Credit Union 05/13/02 1.940 10,000,000.00 11/13/02 PLACERVILLE El Dorado Savings Bank 02/08/02 2.250 5,000,000.00 02/07/03 El Dorado Savings Bank 03/07/02 2.390 5,000,000.00 03/07/03 El Dorado Savings Bank 03/22/02 2.640 5,000,000.00 03/20/03 El Dorado Savings Bank 04/12/02 2.640 10,000,000.00 04/10/03 El Dorado Savings Bank 05/02/02 2.390 5,000,000.00 04/30/03 El Dorado Savings Bank 06/10/02 2.360 20,000,000.00 06/10/03 PLEASANTON Valley Community Bank 09/12/02 1.750 5,000,000.00 03/13/03 POMONA PFF Bank and Trust 06/03/02 2.000 20,000,000.00 12/09/02 PFF Bank and Trust 08/30/02 1.720 8,000,000.00 02/27/03 29 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE PORTERVILLE Bank of the Sierra 10/21/02 1.730 10,000,000.00 04/23/03 RANCHO SANTA FE La Jolla Bank, FSB 05/28/02 1.920 10,000,000.00 11/19/02 La Jolla Bank, FSB 05/23/02 1.960 15,000,000.00 11/19/02 La Jolla Bank, FSB 08/06/02 1.670 25,000,000.00 02/05/03 La Jolla Bank, FSB 09/04/02 1.660 10,000,000.00 03/06/03 REDDING North Valley Bank 06/12/02 1.920 3,000,000.00 12/11/02 REDWOOD CITY Provident Central Credit Union 10/29/02 1.710 20,000,000.00 04/29/03 ROCKLIN Five Star Bank 10/01/02 1.610 2,000,000.00 04/01/03 RICHMOND Mechanics Bank 05/07/02 1.890 10,000,000.00 11/07/02 Mechanics Bank 03/07/02 2.390 10,000,000.00 03/07/03 Mechanics Bank 04/05/02 2.710 10,000,000.00 04/01/03 Mechanics Bank 04/25/02 2.440 10,000,000.00 04/23/03 Mechanics Bank 06/12/02 2.340 10,000,000.00 06/12/03 Mechanics Bank 07/11/02 2.110 10,000,000.00 07/09/03 Mechanics Bank 08/13/02 1.710 10,000,000.00 08/08/03 Mechanics Bank 09/12/02 1.800 10,000,000.00 09/12/03 Mechanics Bank 10/15/02 1.580 10,000,000.00 10/15/03 RIVERSIDE Provident Savings Bank 09/27/02 1.630 25,000,000.00 03/27/03 SACRAMENTO American River Bank 06/26/02 1.820 1,000,000.00 12/23/02 American River Bank 07/10/02 1.780 1,000,000.00 01/10/03 American River Bank 01/14/02 2.200 1,500,000.00 01/14/03 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE SACRAMENTO (continued) American River Bank 08/29/02 1.720 2,000,000.00 02/26/03 American River Bank 09/25/02 1.680 2,000,000.00 03/27/03 American River Bank 10/11/02 1.560 1,500,000.00 04/09/03 Bank of Sacramento 05/28/02 1.970 2,000,000.00 11/25/02 Bank of Sacramento 08/12/02 1.610 1,500,000.00 02/11/03 Bank of Sacramento 09/20/02 1.720 2,000,000.00 03/19/03 Golden One Credit Union 05/23/02 1.950 10,000,000.00 11/19/02 Golden One Credit Union 06/07/02 2.010 10,000,000.00 01/09/03 Merchants National Bank 07/23/02 1.750 2,000,000.00 01/22/03 Merchants National Bank 10/17/02 1.660 2,000,000.00 04/15/03 River City Bank 07/01/02 1.790 2,000,000.00 01/08/03 River City Bank 07/29/02 1.740 3,000,000.00 01/27/03 River City Bank 08/27/02 1.720 2,000,000.00 02/25/03 River City Bank 10/01/02 1.630 4,000,000.00 04/02/03 U.S. Bank 05/06/02 1.940 50,000,000.00 11/06/02 U.S. Bank 07/03/02 1.810 100,000,000.00 01/08/03 U.S. Bank 08/02/02 1.750 25,000,000.00 01/31/03 U.S. Bank 08/23/02 1.670 25,000,000.00 02/19/03 Union Bank of California 05/08/02 1.890 150,000,000.00 11/05/02 Union Bank of California 06/18/02 1.820 100,000,000.00 12/16/02 Union Bank of California 10/17/02 1.640 150,000,000.00 01/17/03 SALINAS Community Bank of Central Cal 10/08/02 1.62 20,000,000.00 12/30/02 SAN BERNARDINO Business Bank of California 07/12/02 1.800 8,000,000.00 01/14/03 Business Bank of California 09/16/02 1.730 12,000,000.00 03/18/03 SAN DIEGO First Future Credit Union 05/29/02 1.930 5,000,000.00 11/25/02 First Future Credit Union 06/21/02 1.810 3,000,000.00 12/18/02 First Future Credit Union 08/30/02 1.710 5,000,000.00 02/27/03 First United Bank 07/18/02 1.760 2,000,000.00 01/17/03 First United Bank 02/15/02 2.300 1,000,000.00 02/14/03 Neighborhood National Bank 08/22/02 1.730 2,000,000.00 02/21/03 31 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE SAN FRANCISCO America California Bank 10/30/02 1.650 2,000,000.00 01/08/03 America California Bank 09/27/02 1.710 2,000,000.00 01/08/03 Bank of Canton California 05/22/02 1.930 25,000,000.00 12/03/02 Bank of Canton California 06/11/02 1.970 20,000,000.00 01/15/03 Bank of Canton California 03/08/02 2.390 20,000,000.00 03/07/03 Bank of Canton California 10/10/02 1.580 40,000,000.00 04/08/03 Bank of Canton California 08/30/02 1.920 20,000,000.00 08/28/03 Bank of the West 08/20/02 1.650 100,000,000.00 11/18/02 Bank of the West 08/21/02 1.650 142,000,000.00 11/18/02 Bank of the West 07/01/02 1.750 134,000,000.00 12/30/02 Bank of the West 07/23/02 1.760 76,500,000.00 01/22/03 Bank of the West 09/20/02 1.690 82,000,000.00 03/19/03 California Federal Bank 09/05/02 1.650 50,000,000.00 11/21/02 California Federal Bank 08/22/02 1.700 50,000,000.00 11/21/02 California Federal Bank 07/03/02 1.780 50,000,000.00 12/30/02 California Federal Bank 10/16/02 1.590 100,000,000.00 04/14/03 Oceanic Bank 09/12/02 1.800 4,000,000.00 09/12/03 Trans Pacific National Bank 08/05/02 1.700 1,000,000.00 02/05/03 Trans Pacific National Bank 09/19/02 1.730 1,000,000.00 03/25/03 United Commercial Bank 07/02/02 1.800 25,000,000.00 12/30/02 United Commercial Bank 07/10/02 1.800 30,000,000.00 01/10/03 United Commercial Bank 07/31/02 1.760 40,000,000.00 01/27/03 United Commercial Bank 08/30/02 1.750 30,000,000.00 02/28/03 United Commercial Bank 09/10/02 1.710 30,000,000.00 03/21/03 United Commercial Bank 09/10/02 1.710 35,000,000.00 03/21/03 SANJOSE Comerica Bank of California 08/07/02 1.680 183,000,000.00 11/05/02 Comerica Bank of California 09/05/02 1.690 63,000,000.00 12/04/02 Comerica Bank of California 10/15/02 1.640 71,000,000.00 01/13/03 Heritage Bank of Commerce 08/15/02 1.640 2,000,000.00 02/14/03 Meriwest Credit Union 05/07/02 1.920 5,000,000.00 11/07/02 Meriwest Credit Union 06/18/02 1.900 5,000,000.00 12/17/02 Meriwest Credit Union 08/28/02 1.730 5,000,000.00 02/25/03 Meriwest Credit Union 10/18/02 1.710 5,000,000.00 04/16/03 San Jose National Bank 07/30/02 1.730 20,000,000.00 01/28/03 San Jose National Bank 08/14/02 1.660 20,000,000.00 02/19/03 Santa Clara Co. Fed. C.U. 08/06/02 1.700 5,000,000.00 11/05/02 Santa Clara Co. Fed. C.U. 08/06/02 1.680 10,000,000.00 02/05/03 32 NAME SAN LUIS OBISPO First Bank Of San Luis Obispo First Bank Of San Luis Obispo First Bank Of San Luis Obispo Mission Community Bank Mission Community Bank Mission Community Bank San Luis Trust Bank San Luis Trust Bank SAN MARINO East West Federal Bank East West Federal Bank East West Federal Bank East West Federal Bank SAN RAFAEL Westamerica Bank Westamerica Bank Westamerica Bank Westamerica Bank R0, him:�sli��[�1� EBTEL Federal Credit Union EBTEL Federal Credit Union EBTEL Federal Credit Union SANTA CLARITA Valencia Bank & Trust SANTA MARIA Hacienda Bank SANTA ROSA National Bank of the Redwoods TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 08/12/02 1.690 6,000,000.00 11/12/02 09/10/02 1.750 7,000,000.00 03/11/03 09/24/02 1.690 5,000,000.00 03/26/03 06/11 /02 1.920 1, 000, 000.00 12/ 10/02 09/05/02 1.650 1,000,000.00 03/04/03 10/10/02 1.600 2,500,000.00 04/08/03 07/11/02 1.800 1,350,000.00 01/10/03 10/23/02 1.740 1,000,000.00 01 /21 /03 07/09/02 1.780 42,000,000.00 01/09/03 02/07/02 2.260 35,000,000.00 02/07/03 09/10/02 1.700 35,000,000.00 03/11/03 05/15/03 2.370 38,000,000.00 05/15/03 10/18/02 1.670 15,000,000.00 01/16/03 10/18/02 1.670 10,000,000.00 01/16/03 07/30/02 1.700 10,000,000.00 01/28/03 04/09/02 2.570 35,000,000.00 04/10/03 07/01 /02 1.770 1, 000, 000.00 12/30/02 07/12/02 1.780 2,000,000.00 12/30/02 07/18/02 1.790 750,000.00 01/17/03 09/19/02 1.740 4,000,000.00 12/18/02 09/09/02 1.670 1,000,000.00 03/10/03 10/24/02 1.710 10,000,000.00 01/22/03 33 NAME STOCKTON TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE Pacific State Bank 07/02/02 1.860 1,000,000.00 01/07/03 Pacific State Bank 10/11/02 1.590 1,000,000.00 04/09/03 Union Safe Deposit Bank 05/07/02 1.930 10,000,000.00 11/07/02 Union Safe Deposit Bank 06/12/02 1.940 10,000,000.00 12/11/02 Union Safe Deposit Bank 07/25/02 1.780 15,000,000.00 01/23/03 Union Safe Deposit Bank 08/15/02 1.670 15,000,000.00 02/14/03 Union Safe Deposit Bank 09/04/02 1.680 15,000,000.00 03/06/03 Union Safe Deposit Bank 10/10/02 1.610 10,000,000.00 04/15/03 Washington Mutual Bank 06/17/02 1.870 45,000,000.00 12/16/02 Washington Mutual Bank 07/26/02 1.700 15,000,000.00 01/22/03 Washington Mutual Bank 07/23/02 1.740 60,000,000.00 01/22/03 Washington Mutual Bank 08/19/02 1.660 60,000,000.00 02/19/03 TORRANCE China Trust Bank (USA) 08/16/02 1.650 20,000,000.00 11/15/02 China Trust Bank (USA) 09/12/02 1.730 35,000,000.00 12/11/02 China Trust Bank (USA) 07/19/02 1.790 30,000,000.00 01/22/03 South Bay Bank 09/16/02 1.760 4,000,000.00 12/18/02 South Bay Bank 10/01/02 1.710 4,000,000.00 01/06/03 South Bay Bank 10/22/02 1.740 7,000,000.00 01/21/03 TRACY Service 1st Bank 09/24/02 1.680 2,000,000.00 03/20/03 Service 1st Bank 09/17/02 1.750 2,000,000.00 03/20/03 TUSTIN First Fidelity Investment & Loan 08/08/02 1.670 15,000,000.00 11/06/02 First Fidelity Investment & Loan 10/17/02 1.660 10,000,000.00 11/15/02 First Fidelity Investment & Loan 09/10/02 1.720 15,000,000.00 11/15/02 Sunwest Bank 08/12/02 1.640 7,800,000.00 11/08/02 Sunwest Bank 09/10/02 1.700 1,000,000.00 12/09/02 Sunwest Bank 10/15/02 1.610 6,000,000.00 01/13/03 VACAVILLE Travis Credit Union 08/28/02 34 1.730 40,000,000.00 02/25/03 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE WATSONVILLE Monterey Bay Bank 06/17/02 1.890 3,000,000.00 12/16/02 Monterey Bay Bank 07//10/02 1.800 8,000,000.00 01/14/03 Monterey Bay Bank 09/06/02 1.650 6,000,000.00 03/04/03 Monterey Bay Bank 09/19/02 1.730 8,000,000.00 03/25/03 Monterey Bay Bank 10/10/02 1.600 3,000,000.00 04/10/03 WHITTIER Quaker City Bank 05/24/02 1.930 25,000,000.00 12/03/02 Quaker City Bank 07/12/02 1.770 24,000,000.00 01/14/03 Quaker City Bank 10/04/02 1.610 16,000,000.00 04/02/03 TOTAL TIME DEPOSITS OCTOBER 2002 35 5,120,290,000.00 BANK DEMAND DEPOSITS OCTOBER 2002 ($ in thousands) DAILY BALANCES DAY OF BALANCES WARRANTS MONTH PER BANKS OUTSTANDING 1 $ 1,156,561 $ 4,370,766 2 653,828 3,902,869 3 359,751 3,775,456 4 485,978 4,045,580 5 485,978 4,045,580 6 485,978 4,045,580 7 169,251 3,753,779 8 539,829 3,547,676 9 481,631 3,671,163 10 460,584 3,778,361 11 708,172 4,050, 666 12 708,172 4,050,666 13 708,172 4,050,666 14 708,172 4,050,666 15 528,969 3,745,251 16 3,468,896 3,593,797 17 561,455 3,630,231 18 651,215 4,179,730 19 651,215 4,179,730 20 651,215 4,179,730 21 617,860 3,536,669 22 952,305 3,346,022 23 702,875 3,380,115 24 916,309 3,533,189 25 875,107 3,912,312 26 875,107 3,912,312 27 875,107 3,912,312 28 893,288 3,725,298 29 592,779 3,916,918 30 840,726 4,191,235 31 1,006,790 4,318,255 AVERAGE DOLLAR DAYS $ 766,880 a/ a� The prescribed bank balance for October was $757,002. This consisted of $646,989 in compensating balances for services, balances for uncollected funds of $117,339 and a deduction of $7,326 for October delayed deposit credit. 36 DESIGNATION BY POOLED MONEY INVESTMENT BOARD OF TREASURY POOLED MONEY INVESTMENTS AND DEPOSITS No. 1640 In accordance with sections 16480 through 16480.8 of the Government Code, the Pooled Money Investment Board, at its meeting on October 16, 2002, 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- actions, 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 $ 646,990,000 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 In Securities (sections 16503a Estimated From To Transactions (section 16430)' and 16602)' Total ( 1) 10/14/2002 10/18/2002 $ 8,334,700,000 $ 41,821,410,000 $ 5,129,290,000 $ 46,950,700,000 (2) 10/21/2002 10/25/2002 $ 251,500,000 $ 42,072,910,000 $ 5,129,290,000 $ 47,202,200,000 (3) 10/28/2002 11/1/2002 $ (420,500,000) $ 41,652,410,000 $ 5,129,290,000 $ 46,781,700,000 (4) 11/4/2002 11/8/2002 $ 3,947,000,000 $ 45,599,410,000 $ 5,129,290,000 $ 50,728,700,000 (5) 11/11/2002 11/15/2002 $ 7,452,800,000 $ 53,052,210,000 $ 5,129,290,000 $ 58,181,500,000 (6) 11/18/2002 11/22/2002 $ 160,000,000 $ 53,212,210,000 $ 5,129,290,000 $ 58,341,500,000 (7) 11/25/2002 11/29/2002 $ (5,493,600,000) $ 47,718,610,000 $ 5,129,290,000 $ 52,847,900,000 (8) 12/2/2002 12/6/2002 $ 1,113,100,000 $ 48,831,710,000 $ 5,129,290,000 $ 53,961,000,000 (9) 12/9/2002 12/13/2002 $ 114,200,000 $ 48,945,910,000 $ 5,129,290,000 $ 54,075,200,000 (10) 12/16/2002 12/20/2002 $ 2,690,200,000 $ 51,636,110,000 $ 5,129,290,000 $ 56,765,400,000 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 $ 646,990,000. POOLED MONEY INVESTMENT BOARD: Signature on file at STO & SCO Chairperson Member Dated: October 16, 2002 Government Code Member BOARD MEMBER ITEMS LEE M. OSBORNE, CPA 43-671 MESSINA CRT. LA QUINTA, CA. 92253 December 20, 2002 John Falconer Finance Director City of La Quinta P O Box 1504 La Quinta, Ca. 92253-1504 Re: Investment Advisory Board Dear John, Please except this as my resignation from the IAB. As I have recently been appointed to the La Quinta City Council I will no longer be able to serve the city in the capacity of a board member of the IAB as well as the City Council. I have enjoyed my service in the Investment Advisory Board immensely. It has been an honor to serve on the board with yourself and the many board members that I have been privaliged to work with. Sincerely, M.