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2004 09 16 IAB• tt 0 AdML P.O. Box 15-04 78-495 CALLE TAMPICO (760) 777-7000 LA QUINTA, CALIFORNIA 92253 FAX (760) 777-7101 AGENDA INVESTMENT ADVISORY BOARD Study Session Room - Special Meeting 78-495 Calls Tampico- La Quinta, CA 92263 September 16, 2004 - 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 Approval of Minutes of Meeting on July 14, 2004 for the Investment Advisory Board. V BUSINESS SESSION A. Transmittal of Treasury Report for June and July, 2004 B. Update on Fiscal Year 2004/05 Investment Advisory Board workplan VI CORRESPONDENCE AND WRITTEN MATERIAL A. Month End Cash Report - August 2004 B. Pooled Money Investment Board Reports - May and June 2004 C. Joint Meeting with Investment Advisory Board Work Plan D. New LAIF Conference Dates V11 BOARD MEMBER ITEMS VIII ADJOURNMENT INVESTMENT ADVISORY BOARD Business Session: A Meeting Date: September 16, 2004 ITEM TITLE: Transmittal of Treasury Report for June and July 2004 BACKGROUND: Attached please find the Treasury Report for June and July 2004. RECOMMENDATION: Review, Receive and File the Treasury Report for June and July 2004. -4 M 4-0-x� John M. Falconer, Finance Director MEMORANDUM TO: La Quinta City Council FROM: John M. Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for June 30, 2004 DATE: August 10, 2004 Attached is the Treasurer's Report for the month ending June 30, 2004. 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 I Sold/Matured Other Ending Change Cash (3) $ 372,199 $ 394,414 (1) $766,613 $394,414 LAW 29,249,469 3,800,000 (12,300,000) 20,749,469 (8,500,000) US Treasuries (2) 80,039,567 104,000,000 (51,086,000) (699,716) 132,253,851 52,214,284 US Gov't Agencies (2) 30,028,640 (2,500,000) (16,789) 27,511,851 (2,516,789) Commercial Paper (2) - 0 0 Mutual Funds 2,394,290 3,716,892(1).6,111,182 3,716,892 Total $142,084,165 $111,911,306 $65,886,000 $716,505 $187,392,966 1 $45,308,801 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. 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ASSETS:, POOLED CASH (22.7311,034.31) 0.00 0.00 43,581,831.38 0.00 0.00 5,005.88 0.00 20,848.802.95 LORD NVVESTbENT IN POOLED CASH 0.00 0.00 0.00 612.000.00 0.00 0.00 0.00 0.00 612,000.00 INVESTMENT T-BILLINOTES i OTHER 70.370,000.00 0.00 0.00 90.000,000.00 0.00 0.00 0.00 0.00 180,370.000.00 AUTO MALL CASH 0.00 0.00 0.00 0.00 0.00 0.00 0.00 .0.o,0 0.00 LQRP CASH 0.00 0.00 0.00 54.278.79 0.00 0.00 0.00 0.00 54,278.79 BOND REDEMPTION CASH 0.00 0.00 0.00 320.43 0.00 0.00 5.83 0.00 326.26 BOND RESERVE CASH 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 BOND PROJECT CASH 0.00 0.00 0.00 6,056.857.02 0.00 0.00 55.000.00 0.00 6.110,857.02 BOND ESCROW CASH 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PETTY CASH 1000 00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,000.00 CASH i INVESTMENT TOTAL 47.632.965.69 0.00 0.00 140,304,287.62 0.00 0.00 601011.71 0.00 187,997.265.02 NVESTMENT 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 706.363.55 0.00 0.00 60.900.00 0.00 0.00 0.00 0.00 767,283.55 PREMILWAIDISCOUNT ON INVESTMENT 39,009.89 0.00 0.00 (636.368.65) 0.00 0.00 0.00 0.00 (804,296.76) LOW -ACCOUNTS RECEIVABLE 0.00 0.00 0.00 80,212.59 0.00 0.00 0.00 0.00 80,212.59 INTEREST RECEIVABLE 252,314.95 0.00 0.00 165,134.57 0.00 0.00 40.73 0.00 418,4W.25 LOAN N40TES RECEIVABLE 9,841.11 0.00 0.00 12,741,627.47 0.00 0.00 90,000,000.00 0.00 102,751,368.W DUE FROM OTHER AGENCIES 5.248,016.40 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.248,01SAO DUE FROM OTHER AGENCIES-CVAG 879,096.69 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8nAm.89 CVAG ALLOWANCE (879.096.69) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (879.096.69) DUE FROM OTHER GOVERNMENTS 728,263.2e 0.00 0.00 530,819.81 0.00 0.00 0.00 0.00 1,2s9.103.07 DUE FROM OTHER FUNDS 2.783,283.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,763.=18 ADVANCES TO OTHER FUNDS - PRINCIPAL 21,397,550.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 21.397.550.21 ADVANCES TO OTHER RANDS - INTEREST 7,273,533.52 0.00 . 0.00 5,338.157.94 0.00 0.00 Coo 0.00 12,609,691.50 ADVANCES TO OTHER FUNDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 NSF CHECKS RECEIVABLE 2,778.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.778.50 ACCRUED REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FIXED ASSETS 0.00 300.249,652.80 0.00 0.00 0.00 0.00 0.00 0.00 W6,249,652.60 ACCUMULATED DEPRECIATION 929,209.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 929,209.62 TRAVEL ADVANCES 400.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 400.00 EMPLOYEE ADVANCES 13,015.70 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13,015.70 PREPAID EXPENSES 296,748.24 0.00 0.00 0.00 0.00 0.00. 0.00 0.00 296.748.24 RECEIVABLE TOTAL 30.673.408.19 306,249.6W.60 0.00 18,279,383.77 0.00 0.00 90.000,040.73 0.00 454,202,485.29 0.00 0.00 0.00 WORKER COMPENSATION DEPOSIT 240.955.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 240.955.00 RENT DEPOSITS 4,830.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.830.00 UTILITY DEPOSITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 MISC. DEPOSIT'S 1073.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,073.21 DEPOSITS TOTAL 246,858.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 246,858.21 GENERAL FIXED ASSETS 0.00 0.00 0.00 0.00 52,006,306.00 0.00 0.00 0.00 52.066,306.00 ACCUMULATED DEPRECIATION 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 AMOUNT AVAILABLE TO RETIRE LIT DEBT 0.00 .0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 AMOUNT TO BE PROVIDED FOR LIT DEBT 0.00 0.00 11970, MSS " 0.00 0.00 247.549.965.00 0.00 94,814,343.00 344.334,860.85 TOTAL OTHER ASSETS 0.00 0.00 1970 552.85 0.00 52,006,306.00 247,549,965.00 0.00 94.814,343.00 396.401.166.85 TOTAL ASSETS 67.553 232.09 306,249,652.00 1.970.552.85 150.583 671.39 5200..306.00 247 549.965.00 90.060.052.44 94.814.343.00 1.038.847.775.37 LIABILITIES: ACCOUNTS PAYABLE 5,317,378.91 0.00 0.00 72,676.90 0.00 0.00 0.00 0.00 5.390,055.71 DUE TO OTHER AGENCIES 56,909.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00 56.909.86 DUE TO OTHER RINDS 36.WL64 0.00 0.00 2,746.630.54 0.00 o o0 0.00 0.00 2,783,283.18 ADVANCES FROM OTHER FUNDS - PRINCIPAL 6,335,157.98 0.00 0.00 21,307,550.21 0.00 0.00 0.00 0.00 26,733,706.10 ADVANCES FROM OTHER FUNDS - NTEREST 0.00 0.00 0.00 7,273,633.52 0.00 0.00 0.00 0.00 74"3.533.52 INTEREST PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 RE I ENTION PAYABLE 726,298.63 0.00 0.00 0.00 % 0.00 0.00 0.00 0.00 721I.M.63 PAYROLL LIABILITIES 379,383.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 379AM19 STRONG MOTION INSTRUMENTS (ISM) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (18.52) FRINGE TOED LIZARD FEES 106,428.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 106,428.00 SUSPENSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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 PAYABLE$TOTAL 11,950,190.00 0.00 0.00 31AN.391.07 0.00 0.00 0.00 0.00 43,449,581.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ENGINEERING TRUST DEPOSITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 SO. COAST AIR QUALITY DEPOSITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 LOW DEPOSITS 0.00 0.00 0.00 18,664.00 0.00 0.00 0.00 0.00 18.664.00 DEVELOPER DEPOSITS 1,516.501.07 0.00 0.00 2.835.00 0.00 0.00 0.00 0.00 1,519,420.07 LOC. DEPOSITS 562.147.27 0.00 0.00 25,000.00 0.00 0.00 0.00 0.00 587,147.27 AGENCY FUND DEPOSITS 1909102:27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,989,102.27 TOTAL DEPOSITS 4,067.840.61 .0.00 0.00 46.499.00 0.00 0.00 0.00 0.00 4.114,339.61 DEFERRED REVENUE 3 787177.88 0.00 0.00 10,618,101.84 0.00 0.00 90 000 000.00 0.00 104,3.72 85 279 L OTHER LIABILITIES TOTAL 3,767,177.88 0.00 0.00 10,618,101.84 0.00 0.00 gol000low.00 0.00 104,385,279.72 COMPENSATED ABSENCES PAYABLE 0.00 0.00 531,W3.26 0.00 0.00 0.00 . 0.00 0.00 531,553.26 DEVELOPER AGREEMENT 0.00 0.00 1,010.688.59 0.00 0.00 0.00 0.00 0.00 1,010.688.59 DUE TO THE COY OF LA QUINTA 0.00 0.00 428.311.00 0.00 0.00 0.00 0.00 0.00 428.311.00 DUE TO COUNTY OF RIVERSIDE 0.00 0.00 0.00 0.00 0.00 2,050.000.00 0.00 0.00 2.050,000.00 DUE TO C.V. UNIFIED SCHOOL DIST. 0.00 0.00 0.00 0.00 0.00 6,867,336.00 0.00 0.00 6,667.330.00 DUE TO DESERT SANDS SCHOOL DIST. 0.00 0.00 0.00 0.00 0.00 0.00. 0.00 0.00 0.00 LOANS PAYABLE '0.00 0.00 0.00 0.00 0.00 90.000,000.00 0.00 0.00 90,000.000.00 BONDS PAYABLE 0.00 0.00 0.00 0.00 0.00 148.832,629.00 0.06 94,814,343.00 243,646,972.00 TOTAL LONG TERM DEBT 0.00 0.00 1.970,552.85 0.00 O.W 247.549.965.00 0.00 94,814,343.00 344,334,000.85 TOTAL LIABILITIES 19,7"A9.18 0.00 1.970,552.85 42.154,M.91 0.00 247.549.965.00 90,000,000.00 94,814,343.00 496,284,061.94 EQINTY-FIND BALANCE 87.759,022.91 306,249,652.60 0.00 116.428.679.48 52,056.306.00 0.00 80.052.44 0.00 542.563,713.43 TOTAL LIABILITY Ni EQUITY 87.553 232.09 306 249.65Z.80 1.970.55Z.85 158.583.67139 52A66.306.00 247.M%965:00 90.000.062." 94,814,343.00 1.038.847.775.37 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 CASH NL INVESTMENT TOTAL 187,997,265.02 ON INVESTMENT (604,298.76) TOTAL 187,392,966.26 MEMORANDUM TO: La Quinta City Council FROM: John M. Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for July 31, 2004 DATE: September 13, 2004 Attached is the Treasurer's Report for the month ending July 31, 2004. 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 (3) $ 766,613 $ (3,758,158) (1) ($2,991,545) ($3,758,158) LAW 20,749,469 2,103,794 (1,300,000) 21,553,263 803,794 US Treasuries (2) 132,253,851 126,761 132,380,612 126,761 US Gov't Agencies (2) 27,511,851 2,461,000 (2,500,000) (76,553) 27,396,298 (115,553) Commercial Paper (2) - 0 0 Corporate Notes - 0 0 Mutual Funds 6,111,182 1 37,298 6,073,884 37,298 Total $ 187,392,966 $ 806,636 1 $ 3,837,298 $ 50,208 $ 184,412,512 $ 2,980,454 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. 711-312-00� ohn M;Falconer 0""6 Date Financeor/Treasurer Footnote (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) The cash account may reflect a negative balance. This negative balance will be offset with transfers from other investments before warrants are presented for payment by the payee at the bank. 7 .x E 0 N m E m 0 Ac E E o E E c m m � E � w 8 E N U E 4 m X Z Z Z Z Z Z Z Z 111 .^ H SSL S, pp a E �E A d aL a ao $ � � w H 5 Ns U U o0 Q g LL LL N N a a CM I ` ` �. 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N O U.?LQ'" ) st p.O y p) y a _N pp C m _C0 ppC4 ' 'p _ ccop; O _ ccUop C m O O o y y y y o o o= , %C O O= 0 0 0= �, 0 0 0= , 0 0 0= + m C m y y V) m m 'E 'P y y to m m CC C to y tom m to y (am m C�� ' y to m C C CC E y E'-- E mC mmm W W W� EW m m m W W W2 EEEy� mmm W W W� m EEEyL m m m W W W� catuM W W W� m c o =N m �7g'�2 m coo 7878'9 2 a; '9'9 ��2 a; N'i'1 .r N N N N N N N N N m m N N N C O m N N N C y cp 2uO C y m lc N DM � =2 T LL aQda3 G m d¢d05-'� c C U ddN'g C C C ddd` n C ' dC¢dcm nQ'� `U= XQ _ � C E N � C � C Q A _ � tp LL � O C c0 v W 79 L N C C X Li Q Cl) H t C C +N+ E N V 0 C L C E c m U Z '0 j m C g= ■ p o 0 v� v� C ,c .m m O H N ■ a W W >b N CCy +� LL L IM Q Q .J = ` O ■ O 'mot•+ ■ ,OM o \ \ \o \ \° \° \ \ c N c � 2 O O 0o O O O c0 O N O O 00 O c0 O It O O N O O N V- .- V-:;uWJed o 0 0 0 0 CITY OF LA QUINTA CITY FIXED CITY LONG TERM RDA FIXED RDA LONG TERM FINANCING FA LONG TERM GRAND BALANCE SHEET 07/31104 CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL ASSETS: r POOLED CASH (23,754,982.08) 0.00 0.00 41,642,393.41 0.00 0.00 5,046.61 0.00 17,892,457.94 LORD INVESTMENT IN POOLED CASH 0.00 0.00 0.00 612,000.00 0.00 0.00 0.00 0.00 612,000.00 INVESTMENT T-BILLNOTES A OTHER 70,331,000.00 0.00 0.00 90,000,000.00 0.00 0.00 0.00 0.00 160,331,000.00 AUTO MALL CASH 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 LORP CASH 0.00 0.00 0.00 56,260.30 0.00 0.00 0.00 0.00 56,260.30 BOND REDEMPTION CASH 0.00 0.00 0.00 320.52 0.00 0.00 5.83 0.00 0.00 0.00 326.35 0.00 BOND RESERVE CASH BOND PROJECT CASH 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,068,553.46 0.00 0.00 0.00 0.00 5,004.81 0.00 6,073,558.27 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 46,577,017.92 0.00 0.00 138,379,527.69 0.00 0.00 10,057.25 0.00 184,966,602.86 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 435,071.55 0.00 0.00 60,900.00 0.00 0.00 0.00 0.00 496,971.55 PREMIUMIDISCOUNT ON INVESTMENT (39,108.03) , 0.00 0.00 (514,982.65) 0.00 0.00 0.00 0.00 (554,090.68) LORP-ACCOUNTS RECEIVABLE 0.00 0.00 0.00 80,820.59 0.00 0.00 0.00 0.00 80,820.59 INTEREST RECEIVABLE (7,034.03) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (7,034.03) LOAN/NOTES RECEIVABLE 10.00 0.00 0.00 12,741,527.47 0.00 0.00 90,000,000.00 0.00 102,741,527.47 DUE FROM OTHER AGENCIES 4,527,423.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,527,423.17 DUE FROM OTHER AGENCIES-CVAG 879,096.69 0.00 0.00 0.00 0.00 0.00 0.00 0.00 879,096.69 CVAG ALLOWANCE (879,096.69) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (879.096.69) DUE FROM OTHER GOVERNMENTS 40,306.50 0.00 0.00 530,819.81 0.00 0.00 0.00 0.00 571,126.31 DUE FROM OTHER FUNDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ADVANCES TO OTHER FUNDS - PRINCIPAL 21,397,650.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 21,397,550.21 ADVANCES TO OTHER FUNDS - INTEREST 7,385,710.42 0.00 0.00 5,336,157.98 0.00 0.00 0.00 0.00 12,721,868.40 ADVANCES TO OTHER FUNDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 NSF CHECKS RECEIVABLE 1,629.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,629.00 ACCRUED REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FIXED ASSETS 2,576,738.80 388,021,434.00 0.00 0.00 69,288,415.00 0.00 0.00 0.00 459,886,587.80 ACCUMULATED DEPRECIATION (1,460.883.00) (59,391,538.00) 0.00 0.00 (240,000.00) 0.00 0.00 0.00 (61,092,421.00) TRAVEL ADVANCES 1,250.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,250.00 EMPLOYEE ADVANCES 13.015.70 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13,015.70 PREPAID EXPENSES 680,506.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00 680,506.18 RECEIVABLE TOTAL 35,552,176.47 328,629,896.00 0.00 18,236,243.20 69,048,415.00 0.00 90,000,000.00 0.00 541,465,730.67 0.00 0.00 0.00 WORKER COMPENSATION DEPOSIT 240,955.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 240,955.00 RENT DEPOSITS 4,830.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,830.00 UTILITY DEPOSITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 MISC. DEPOSITS 1,073.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,073.21 DEPOSITS TOTAL 246,858.21 0.00 0,00 0.00 0.00 0.00 0.00 0.00 246,858.21 GENERAL FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ACCUMULATED DEPRECIATION 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 AMOUNT AVAILABLE TO RETIRE L/T DEBT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 AMOUNT TO BE PROVIDED FOR LIT DEBT 0.00 0.00 1,970,552.85 0.00 0.00 247,549,965.00 0.00 94,814,343.00 344,334,860.85 TOTAL OTHER ASSETS 0.00 0.00 1,970,552.85 0.00 0.00 247,549,965.00 0.00 94,814,343.00 344,334,860.85 TOTAL ASSETS 82,376,052.60 328 629 896 00 1,970,552.85 156 614 770.89 69 048 415.00 247 549 965.00 90,010,057.25 94,814,343.00 1,071,014,052.59 LIABILITIES: ACCOUNTS PAYABLE 553,065.41 0.00 0.00 19,560.37 0.00 0.00 0.00 0.00 572,625.78 DUE TO OTHER AGENCIES 57,080.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00 57,080.86 DUE TO OTHER FUNDS 26,272.69 0.00 0.00 0.00 0.00 0.00 0.00 0.00 26,272.69 ADVANCES FROM OTHER FUNDS - PRINCIPAL 5,336,157.98 0.00 0.00 21,397,550.21 0.00 0.00 0.00 0.00 26,733,708.19 ADVANCES FROM OTHER FUNDS - INTEREST 0.00 0.00 0.00 7,385,711.52. 0.00 0.00 0.00 0.00 7,385,711.52 INTEREST PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 RETENTION PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAYROLL LIABILITIES 176,640.98 0.00 0.00 0.00 0.00 0.00 0.00 0.00 176,640.98 STRONG MOTION INSTRUMENTS 3,594.97 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,594.97 FRINGE TOED LIZARD FEES 106,428.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 106,428.00 SUSPENSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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 6,259,240.89 0.00 0.00 28,802,822.10 0.00 0.00 0.00 0.00 35,062,062.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ENGINEERING TRUST DEPOSITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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 18,664.00 0.00 0.00 0.00 0.00 18,664.00 DEVELOPER DEPOSITS 1,384,809.10 0.00 0.00 2,835.00 0.00 0.00 0.00 0.00 1,387,644.10 MISC. DEPOSITS 562,747.27 0.00 0.00 25,000.00 0.00 0.00 0.00 0.00 587,747.27 AGENCY FUND DEPOSITS 1,986,496.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,986,496.85 TOTAL DEPOSITS 3,934,053.22 0.00 0.00 46,499.00 0.00 0.00 0.00 0.00 3.980,552.22 DEFERRED REVENUE 3,767,177.88 0.00 0.00 10 618 101.84 0.00 0.00 90,000,000.00 0.00 104,385,279.72 OTHER LIABILITIES TOTAL 3,767,177.88 0.00 0.00 10,618,101.84 0.00 0.00 90.000,000.00 0.00 104,385,279.72 COMPENSATED ABSENCES PAYABLE 0.00 0.00 531,553.26 0.00 0.00 0.00 0.00 0.00 531,553.26 DEVELOPER AGREEMENT 0.00 0.00 1,010,688.59 0.00 0.00 0.00 0.00 0.00 1,010,688.59 DUE TO THE CITY OF LA QUINTA 0.00 0.00 428,311.00 0.00 0.00 0.00 0.00 0.00 428,311.00 DUE TO COUNTY OF RIVERSIDE 0.00 0.00 0.00 0.00 0,00 2,050,000.00 0.00 0.00 2,050,000.00 DUE TO C.V. UNIFIED SCHOOL DIST. 0.00 0.00 0.00 0.00 0.00 6,667,336.00 0.00 0.00 6,667,336.00 DUE TO DESERT SANDS SCHOOL DIST. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 LOANS PAYABLE 0.00 0.00 0.00 0.00 0.00 90,000,000.00 0.00 0.00 90,000,000.00 BONDS PAYABLE 0.00 0.00 0.00 0.00 0.00 148,832,629.00 0.00 94,814,343.00 243,646,972.00 TOTAL LONG TERM DEBT 0.00 0.00 1.970,552.85 0.00 0.00 247,549,965.00 0.00 94,814,343.00 344,334,860.85 TOTAL LIABILITIES EQUITY -FUND BALANCE TOTAL LIABILITY & EQUITY CASH & INVESTMENT TOTAL PREMIUM/DISCOUNT ON INVESTMENT TOTAL 13,960,471.99 0.00 1,970,552.85 39,467,422.94 0.00 247,549,965.00 90,000,000.00 94,814,343.00 487,762,755.78 68,415,580.61 328,629,896.00 0.00 117,147,347.95 69,048,415.00 0.00 10,057.25 0.00 583,251,296.81 82,376,052.60 328,629,896.00 1 970 552.85 156 614 770.89 69 048 415.00 247 549 965.00 90,010,057.25 94,814,343.00 1,071,014,052.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 184,966,602.86 (554,090.68) 184,412,512.18 INVESTMENT ADVISORY BOARD Correspondence & Written Material Item A Meeting Date: September 16, 2004 TITLE: Month End Cash Report - August 2004 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 w O C 8 N CO N M M N O O O m M� MINCD�^N ON O�O ppm0NNMC�7 FO- m00 c OD p O OD LO N o1'01l 1- N N N N N 1l- CA N OO 1% it T- Cf) CM LA ti � M M M 00 COD t0 t- N0)MM00 NW Nt-ACE CDe) M >� co 1- to N O Ci O C? 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C O N N C .+ 8 yco 0 Vl Nm C a LL P INVESTMENT ADVISORY BOARD Business Session: B Meeting Date: September 16, 2004 ITEM TITLE: Fiscal Year 2004/05 Work Plan BACKGROUND: This item was discussed at the July Board Meeting and forwarded to the August 17• 2004 City Council meeting for consideration. Attached is the staff report and an excerpt from the City Council minutes on this item for the Boards review. The work plan has been continued by the City Council until after the September 28, 2004 meeting. RECOMMENDATION: None at this time pending the outcome of the joint meeting. n M . Falconer, Finance Director FRB: H.15 Release --Selected Interest Rates --August 30, 2004 Page 1 of 3 Federal Reserve statistical Release H.15 Selected Interest Rates Release Date: August 30, 2004 Release dates I Daily update I :Historical data I About Current release Other formats: Screen _reader I ASCII I PDF__t 7 KB) FEDERAL RESERVE STATISTICAL RELEASE H.15 (519) SELECTED INTEREST RATES Yields in percent per annum Instruments Federal funds (effective) 1 2 3 Commercial paper 3 4 5 Nonfinancial 1-month 2-month 3-month Financial 1-month 2-month 3-month CDs (secondary market) 3 6 1-month 3-month 6-month Eurodollar deposits (London) 3 7 1-month 3-month 6-month Bank prime loan 2 3 8 Discount window primary credit 2 9 U.S. government securities Treasury bills (secondary market) 3 4 4-week 3-month 6-month Treasury constant maturities Nominal 10 1-month 3-month 6-month 1-year 2-year 2004 2004 2004 2004 2004 Aug Aug Aug Aug Aug 23 24 .25 26 27 1.51 1.51 1.55 1.55 1.52 1.49 1.50 1.52 1.50 1.51 1.55 1.56 1.55 1.56 1.57 n.a. 1.65 1.65 n.a. 1.93 1.50 1.50 1.52 1.53 1.54 1.59 1.60 1.62 1.62 1.63 1.64 1.67 1.68 1.69 1.70 1.56 1.57 1.56 1.58 1.59 1.70 1.71 1.73 1.77 1.76 1.91 1.93 1.93 1.96 1.95 1.52 1.53 1.54 1.56 1.57 1.67 1.69 1.70 1.72 1.73 1.87 1.91 1.91 1.92 1.91 4.50 4.50 4.50 4.50 4.50 2.50 2.50 2.50 2.50 2.50 1.29 1.37 1.35 1.37 1.40 1.52 1.52 1.52 1.52 1.53 1.76 1.76 1.75 1.75 1.76 1.33 1.39 1.38 1.40 1.43 1.54 1.54 1.54 1.55 1.56 1.80 1.80 1.79 1.79 1.80 2.03 2.03 2.03 2.02 2.03 2.50 2.50 2.51 2.48 2.48 http://www.federalreserve.gov/Releases/Hl 5/20040830/ .2i 9/8/2004 FRB: H.15 Release --Selected Interest Rates --August 30, 2004 Page 2 of 3 3-year 5-year 7-year 10-year 20-year 11 Inflation -indexed 12 5-year 7-year 10-year 20-year Inflation -indexed long-term average 13 Interest rate swaps 14 1-year 2-year 3-year 4-year 5-year 7-year 10-year 30-year Corporate bonds Moody's seasoned Aaa 15 Baa State & local bonds 16 Conventional mortgages 17 See overleaf for footnotes n.a.-- not available 2.87 2.87 2.88 2.85 2.85 3.46 3.46 3.46 3.42 3.43 3.90 3.91 3.89 3.85 3.86 4.28 4.28 4.26 4.22 4.23 5.08 5.08 5.06 5.03 5.02 1.13 1.16 1.17 1.14 1.14 1.51 1.52 1.54 1.51 1.51 1.86 1.87 1.88 1.86 1.86 2.23 2.24 2.25 2.23 2.22 2.25 2.27 2.26 2.25 2.24 2.30 2.32 2.28 2.31 2.30 2.87 2.90 2.83 2.85 2.84 3.30 3.33 3.25 3.27 3.25 3.63 3.66 3.59 3.60 3.58 3.91 3.94 3.87 3.88 3.86 4.33 4.35 4.28 4.29 4.26 4.74 4.76 4.70 4.69 4.67 5.43 5.44 5.39 5.38 5.36 5.65 5.65 5.63 5.60 5.60 6.47 6.46 6.44 6.41 6.41 4.66 5.82 FOOTNOTES 1. The daily effective federal funds rate is a weighted average of rates on broke 2. Weekly figures are averages of 7 calendar days ending on Wednesday of the curr 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 settl Trust Company. The trades represent sales of commercial paper by dealers or d investors (that is, the offer side). The 1-, 2-, and 3-month rates are equiva 90-day dates reported on the Board's Commercial Paper Web page (www.federalres 6. An average of dealer offering rates on nationally traded certificates of depos 7. Bid rates for Eurodollar deposits collected around 9:30 a.m. Eastern time. 8. Rate posted by a majority of top 25 (by assets in domestic offices) insured U. banks. Prime is one of several base rates used by banks to price short-term b 3 http://www.federalreserve.gov/Releases/Hl 5/20040830/ 9/8/2004 FRB: H.15 Release --Selected Interest Rates --August 30, 2004 Page 3 of 3 9. The rate charged for discounts made and advances extended under the Federal Re discount window program, which became effective January 9, 2003. This rate rep adjustment credit, which was discontinued after January 8, 2003. For further www.federalreserve.gov/boarddocs/press/bcreg/2002/200210312/default.htm. The rate reported is that for the Federal Reserve Bank of New York. Historica adjustment credit is available at www.federalreserve.gov/releases/hl5/data.htm 10. Yields on actively traded non -inflation -index issues adjusted to constant matu Treasury. 11. A factor for adjusting the daily nominal 20-year constant maturity in order to be found at www.treas.gov/offices/domestic-finance/debt-management/interest-ra 12. Yields on Treasury inflation protected securities (TIPS) adjusted to constant Treasury. Additional information on both nominal and inflation -indexed yields www.treas.gov/offices/domestic-finance/debt-management/interest-rate/index.htm 13. Based on the unweighted average bid yields for all Inflation Protected Securit to maturity of more than 10 years. 14. International Swaps and Derivatives Association (ISDA(R)) mid -market par swap Rate Payer in return for receiving three month LIBOR, and are based on rates c Garban Intercapital plc and published on Reuters Page ISDAFIX(R)l. ISDAFIX is ISDA. Source: Reuters Limited. 15. Moody's Aaa rates through December 6, 2001 are averages of Aaa utility and Aaa 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; Thu 17. Contract interest rates on commitments for fixed-rate first mortgages. Source Note: Weekly and monthly figures on this release, as well as annual figures availab H.15 web site (see below), are averages of business days unless otherwise not Current and historical H.15 data are available on the Federal Reserve Board' (www.federalreserve.gov/). For information about individual copies or subsc Publications Services at the Federal Reserve Board (phone 202-452-3244, fax For paid electronic access to current and historical data, call STAT-USA at 202-482-1986. DESCRIPTION OF THE TREASURY NOMINAL AND INFLATION -INDEXED CONSTANT MATURITY SERIES Yields on Treasury nominal securities at "constant maturity" are interpolated by th the daily yield curve for non -inflation -indexed Treasury securities. This curve, wh yield on a security to its time to maturity, is based on the closing market bid yie Treasury securities in the over-the-counter market. These market yields are calcula of quotations obtained by the Federal Reserve Bank of New York. The constant maturi read from the yield curve at fixed maturities, currently 1, 3 and 6 months and 1, 2 years. This method provides a yield for a 10-year maturity, for example, even if no has exactly 10 years remaining to maturity. Similarly, yields on inflation -indexed "constant maturity" are interpolated from the daily yield curve for Treasury inflat in the over-the-counter market. The inflation -indexed constant maturity yields are curve at fixed maturities, currently 5, 7, and 10 years. Release. dates. I Daily...._ update I Historical._ data I About Current release Other formats: Screen reader I ASCII I PDF ,17 KB;) Statistical _releases Horne ( Economic research and data Accessibility I Contact Us. Last update: August 30, 2004 l�- 1 http://www.federalreserve.gov/Releases/Hl 5/20040830/ 9/8/2004 FRB:Commercial Paper Rates and Outstandings Pagel of 3 Federal Reserve Release Commercial Paper ,Lip vo Release I About Outstandings I Historical discount rates I Historical outstandings Data as of September 7, 2004 Commercial Paper Rates and Outstandings Derived from data supplied by The Depository Trust Company Trade data insufficient to support calculation of the 90-day AA nonfinancial rate(s) for September 7, 2004. Posted September 8, 2004 Discount rates AA AA A2iP2 Term financial nonfinancial nonfinancial 1-day 11 1.51 11 1.51 1.58 7-day 1.50 1.48 1.60 115-day 1.55 1.52 1.61 30.day 1.62 1.59 1.77 160-day 1.69 1.64 1.83 190-day 11 1.76 1 ND —]1 1.88 Yield curve Money market basis Finial — — — Nonfinancial .-.-.-__ A2/P2 ............ x�. ram` any IY�Y�l�.1! �M- Percent 1.6 1.5 1.4 1 7 15 30 60 90 Days to Matunty http://www.federalreserve.gov/Releases/CP/ 9/8/2004 FRB:Commercial Paper Rates and Outstandings Page 2 of 3 Discount rate spread Basis points l2Q 100 80 60 40 20 0 2 i1 2002 2003 20 Discount rate history Thirty -day commercial paper (daily) Financial -- --,., Nonfinancial •SYNY.f:.- A Percent 2001 2002 2003 2004 Outstandings Weekly (Wednesday), seasonally adjusted http://www.federalreserve.gov/Releases/CP/ 9/8/2004 FRB:Commercial Paper Rates and Outstandings Page 3 of 3 Billions of doll 1260 1.240 1220 1.20+0 1180 1160 114A 2001 Billions of dollars 4VV 2002 2003 2004 DI 10 M fl 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 paper outstanding, miscellaneous categories Volume Statistics 2004 :Q2 Release I About Outstandings I Historical discount rates I Historical outstandings Home I Statistical releases AccessibilitvI Contact Us Last update: September 8, 2004 http://www.federalreserve.gov/Releases/CP/ 7 9/8/2004 Phil Angelides, State Treasurer Inside the State Treasurer's Office Local Agency Investment Fund (LAIF) PMIA Performance Report LAIF Performance Report Quarter Ending 06/30/04 Apportionment Rate: 1.44% Earnings Ratio: .00003932639849006 Fair Value Factor: .998384177 PMIA Average Monthly Effective Yields June 2004 1.469% July 2004 1.604% August 1.672% Pooled Money Investment Account Portfolio Composition $51.7 Billion 07/31 /04 Loans Treasuries Corporate 9.21 % 13.31 % Commercial Paper 13.40% Time Deposil 11.350) CD's/BN's 18.64% rtgages 1.72% Agencies 30.56% ■ Treasuries 0 Mortgages ®Agencies ■ CD's/BN's 0 Time Deposits ® Bankers Acceptances ■ Repo ■ Commercial Paper 0 Corporate Bonds 0 Loans ■ Reverses (f Recent Treasury Bill Auction Results Y Page 1 of 2 Recent Treasury Bill Auction Results TreasuryDR rect Term Issue Maturity Discount Investment Price Per CUSIP Date Date Rate % Rate % $100 Burvotf Of tile PuUKDeb 28-DAY 09-09-2004 10-07-2004 1.540 1.566 99.880 912795RFO i7 91-DAY 09-09-2004 12-09-2004 1.635 1.663 99.587 912795RQ6 182-DAY 09-09-2004 03-10-2005 1.860 1.903. 99.060 912795SD4 Savings Bonds 7-DAY 09-08-2004 09-15-2004 1.480 1.513 99.971 912795TC5 TreasuryDrect 12-DAY 09-03-2004 09-15-2004 1.460 1.491 99.951 912795TC5 Accounts and 28-DAY 09-02-2004 09-30-2004 1.425 1.449 99.889 912795RE3 Information 91-DAY 09-02-2004 12-02-2004 1.580 1.607 99.601 912795RP8 Sav_..ings Bonds 182-DAY 09-02-2004 03-03-2005 1.775 1.815 99.103 912795SC6 Tools 14-DAY 09-01-2004 09-15-2004 1.480 1.513 99.942 912795TC5 TreasWBjIls, 28-DAY 08-26-2004 09-23-2004 1.360 1.383 99.894 912795RD5 Notes 92-DAY 08-26-2004 11-26-2004 1.515 1.541 99.613 912795RN3 and Bonds 182-DAY 08-26-2004 02-24-2005 1.750 1.791 99.115 912795SB8 Auction 28-DAY 08-19-2004 09-16-2004 1.360 1.383 99.894 912795RC7 Information 91-DAY 08-19-2004 11-18-2004 1.470 1.498 99.628 912795RM5 Electronic Services 182-DAY 08-19-2004 02-17-2005 1.725 1.764 99.128 912795SAO 28-DAY 08-12-2004 09-09-2004 1.400 1.422 99.891 912795RB9 The c._Debt ._Publ 92-DAY 08-12-2004 11-12-2004 1.470 1.497 99.624 912795RL7 1.82-DAY 08-12-2004 02-10-2005 1.665 1.703 99.158 912795RZ6 SLGS 28-DAY 08-05-2004 09-02-2004 1.335 1.357 99.896 912795RA1 91-DAY 08-05-2004 11-04-2004 1.465 1.490 99.630 912795RK9 Government Securities 182-DAY 08-05-2004 02-03-2005 1.735 1.774 99.123 912795RY9 ......................................... Market Regulation 28-DAY 07-29-2004 08-26-2004 1.325 1.344 99.897 912795QZ7 91-DAY 07-29-2004 10-28-2004 1.425 1.449 99.640 912795RJ2 Re................................. Site Map 28-DAY. 07-22-2004 08-19-2004 1.170 1.187 99.909 912795QYO Search ................................. 91-DAY 07-22-2004 10-21-2004 1.330 1.352 99.664 912795RH6 Forms 182-DAY 07-22-2004 01-20-2005 1.650 1.687 99.166 912795RW3 FAQs 28-DAY 07-15-2004 08-12-2004 1.155 1.174 99.910 912795QX2 Contact Us 91-DAY 07-15-2004 10-14-2004 1.315 1.336 99.668 912795RG8 Mailing._Lists 182-DAY 07-15-2004 01-13-2005 1.630 1.666 99.176 912795RV5 About Us 7-DAY 07-08-2004 07-15-2004 1.160 1.200 99.977 912795QT1 Law and Guidance 28-DAY 07-08-2004 08-05-2004 1.140 1.161 99.911 912795QW4 FOIA 91-DAY 07-08-2004 10-07-2004 1.320 1.344 99.666 912795RFO Pri_vacX_and_Legal 182-DAY 07-08-2004 01-06-2005 1.630 1.666 99.176 912795RU7 Notices. 13-DAY 07-02-2004 07-15-2004 1.150 1.180 99.958 912795QT1 28-DAY 07-01-2004 07-29-2004 1.155 1.174 99.910 912795QV6 91-DAY 07-01-2004 09-30-2004 1.355 1.381 99.657 912795RE3 h http://wwws.publicdebt.treas.gov/AI/0FBills 9/8/2004 Recent Treasury Bill Auction Results Page 2 of 2 182-DAY 07-01-2004 12-30-2004 1.725 1.764 99.128 912795RTO 28-DAY 06-24-2004 07-22-2004 1.050 1.070 99.918 912795QU8 91-DAY 06-24-2004 09-23-2004 1.315 1.336 99.668 912795RD5 Effective with the 11/2/98 auction, all bills are auctioned using the single -priced method. Return to Auction Information Page Updated September 8, 2004 12:52: 07 PM EDT l4) http://wwws.publicdebt.treas.gov/AI/OFBills 9/8/2004 m c � Q O J 30 O N w LL m O L 4) M « N >+ cc :3 -5 UUm---j N c O m N 7 O 31 d Q x C a N o 2 ` C L w y w' C N O N m CL N _ L a O ., .+ m O C 7 CO C w N m > > n N 3 Ny c U m m 7 m m o Z C m V o F- > to Q Z .-. cc0_co�ti or-Cf) co co qt oGowC14N� �C-4 (')N� Nti OvI MT on �� v _R 'c T � N m O1 m L C ' , W)P-It 00 0000' NW, N 4 m E O H 904N 4 M) O N M M T O 0) N N 16 O W N V N f� mq tM tM T T a O D Q C m E .2- :3 wGo v_ � a w E 7 G T T T m V 3 0 O m tp N C VNNNti + ' T � M N 00 00 W) O to O to N 9 1n 04 p CIACON N CM " m r 0) N tp 0 O QN V c m 7 l0 O MM T T C N tLQ� O U y m N c m ° z �tf)NN a co I tom00C~f MvClO� 11-0 VV o)co0d CD 00 etNopIATMNOMtD ' I-_v0 ' -000I.Nlpr-TNW 0M00 00Lq N�N1l0 d_�M LO � M .. to co co 1:vr NN�NM0_Nc co Oi00C6 tD m �? O��AQif�1-LoMLo �mT Mw r w ��wN�T.�� z,`-'M —CO —C'4 U') � �O 0 Lo O 7 N M tM 0) m 00 c L C L 3 O E O 2 .- 0 m Oco � v M N � Z m 'A t0 Z w m N 7 4) i0 J }} Z N fn Q~ mx c m ., a LU U OJ UO� lm c�i c rn� 2 U} w g0 ga:0 m mO x mW w�a0 w LL}Y0.Q x a a N Wo m0.�> LU L)� cn U. C'm m N LJ 0N CO LuQDp .6LL0 zUQm CDw— Z=mUO= x m t aaO '3 0 QO wZLU co wUW aUz amWroto m n D(5 D w w z vmzommnaw—Z a O my > aC O m m._ CL m m CD Z w2co0>Q 0 LaL ��i LULU H;Owc OZ5505 wiWO? Qcnu Q of-cn(5� wn.2r)Ua loz z3ai5 00 0)I.ma0a-LU INVESTMENT ADVISORY BOARD Meeting Date: September 16, 2004 TITLE: Pooled Money Investment Board Report for May and June 2004. BACKGROUND: Correspondence & Written Material Item B The Pooled Money Investment Board Report for May and June 2004 is included in the agenda packet. RECOMMENDATION: Receive & File John M. Falconer, Finance Director Philip Angelides May 2004 STATE OF CALIFORNIA STATE TREASURER'S OFFICE POOLED MONEY INVESTMENT BOARD REPORT May 2004 TABLE OF CONTENTS SUMMARY................................................................. 01 SELECTED INVESTMENT DATA.. .................................. 02 PORTFOLIO COMPOSITION ........................................ 03 INVESTMENT TRANSACTIONS ..................................... 04 TIME DEPOSITS........................................................ 18 BANK DEMAND DEPOSITS .......................................... 30 POOLED MONEY INVESTMENT BOARD DESIGNATION... 31 POOLED MONEY INVESTMENT ACCOUNT SUMMARY OF INVESTMENT DATA A COMPARISON OF MAY 2004 WITH MAY 2003 (DOLLARS IN THOUSANDS) MAY 2004 MAY 2003 CHANGE' Average Daily Portfolio $ 64,255,880 $ 59,998,342 $ +4,257,538 Accrued Earnings $ 77,617 $ 90,163-12,546 Effective Yield 1.426 1.769 -0.343 1 Average Life -Month End (In Days) 165 138 +17 1 Total Security Transactions Amount $ 26,690,200 $ 21,669,501 $ +3,920,699 Number 538 468 +70 Total Time Deposit Transactions Amount $ 1,740,400 $ 1,914,400 $ -174,000 Number 83 89 -6 Average Workday Investment Activity $ 1,366,530 $ 1,123,043 $ +243,487 Prescribed Demand Account Balances For Services $ 1,283,165 $ 863,394 $ +419,761 For Uncollected Funds $ 252,318 $ 191,217 +61,101 1 PHILIP ANGELIDES TREASURER STATE OF CALIFORNIA INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) TYPE OF SECURITY Government Bills Bonds Notes Strips Total Government Federal Agency Coupons Certificates of Deposit Bank Notes Bankers' Acceptances Repurchases Federal Agency Discount Notes Time Deposits GNMAs Commercial Paper FHLMC Corporate Bonds Pooled Loans GF Loans Reversed Repurchases Total (All Types) INVESTMENT ACTIVITY Pooled Money Other Time Deposits Totals PMIA Monthly Average Effective Yield Year to Date Yield Last Day of Month May 31, 2004 DIFFERENCE N PERCENT OF PERCENT OF PORTFOLIO FROM AMOUNT PORTFOLIO PRIOR MONTH $ 3,182,187 0 5,119,252 0 $ 8,301,439 $ 4,662,324 12,235,109 1,324,977 0 0 14,693,403 5,632,295 478 11,050,031 3,319 1,949,909 5,128,018 0 0 $ 64,981,302 MAY 2004 NUMBER AMOUNT 638 $ 25,590,200 36 604,724 83 1,740,400 657 $ 27,935,324 1.426 1.538 2 4.90 +1.46 0.00 0.00 7.88 -2.22 0.00 0.00 12.78 -0.76 7.17 +0.26 18.83 -0.51 2.04 +0.10 0.00 0 0.00 0 22.61 +3.44 8.67 -0.55 0.00 0 17.00 -1.30 0.01 0 3.00 +0.09 7.89 -0.77 0.00 0.00 0.00 0.00 100.00 APRIL 2004 NUMBER AMOUNT 406 $ 19,603,000 22 548,403 147 3,619,000 675 $ 23,770,403 1.445 1.552 Commercial Paper 17.00% Tim( Depo: 8.671 Pooled Money Investment Account Portfolio Composition $64.9 Billion 05/31 /04 Loans Corporate 7.89% Treasuries 12.78% CD's/BN's 20.87% 3 tgages .01 % Agencies 29.78% Treasuries Mortgages Agencies N CD's/BN's 0 Time Deposits E3 Bankers Acceptances Repo Commercial Paper Corporate Bonds 13Loans N Reverses 05/93/04 REDEMPTIONS CD MONTREAL 1.080% 05/03/04 1.080 50,000 132 198,000.00 1.980 CD MONTREAL 1.080% 05/03/04 1.080 50,000 132 198,000.00 1.980 CP BEAR 05/03/04 1.050 50,000 3 4,375.00 1.065 CP BEAR 05/03/04 1.050 50,000 3 4,375.00 1.065 CP PREFCO 05/03/04 1.030 25,000 28 20,027.78 1.045 CP PREFCO 05/03/04 1.030 50,000 28 40,055.56 1.045 CP B/A 05/03/04 1.030 7,197 60 12,354.85 1.046 CP B/A 05/03/04 1.030 50,000 60 85,833.33 1.046 CP SAFEWAY 05/03/04 1.070 50,000 60 89,166.67 1.087 CP JP MORGAN 05/03/04 1.020 50,000 63 89,250.00 1.036 CP JP MORGAN 05/03/04 1.020 50,000 63 89,250.00 1.036 CP JP MORGAN 05/03/04 1.020 50,000 67 94,916.67 1.039 CP JP MORGAN 05/03/04 1.020 50,000 67 94,916.67 1.039 CP JP MORGAN 05/03/04 1.020 50,000 67 94,916.67 1.039 CP JP MORGAN 05/03/04 1.020 50,000 67 94,916.67 1.039 CP JP MORGAN 05/03/04 1.020 50,000 67 94,916.67 1.039 CP JP MORGAN 05/03/04 1.020 50,000 67 94,916.67 1.039 CP GMAC 05/03/04 1.330 30,000 116 128,566.67 1.358 CP GECC 05/03/04 1.090 50,000 139 210,430.56 1.113 CP GECC 05/03/04 1.090 50,000 139 210,430.56 1.113 CP GECC 05/03/04 1.080 50,000 140 210,000.00 1.103 CP GECC 05/03/04 1.080 50,000 140 210,000.00 1.103 CP GECC 05/03/04 1.080 50,000 140 210,000.00 1.103 CP GECC 05/03/04 1.080 50,000 140 210,000.00 1.103 MTN GECC 7.250% 05/03/04 3.840 18,800 864 1,789,822.67 3.747 05/03/04 PURCHASES CB B/A 7.125% 09/15/06 2.830 21,000 CP HOUSEHOLD 05/04/04 1.030 50,000 CP HOUSEHOLD 05/04/04 1.030 50,000 CP HOUSEHOLD 05/04/04 1.030 50,000 CP HOUSEHOLD 05/04/04 1.030 30,000 06/04/04 REDEMPTIONS CP HOUSEHOLD 05/04/04 1.030 30,000 1 858.33 1.044 CP HOUSEHOLD 05/04/04 1.030 50,000 1 1,430.56 1.044 CP HOUSEHOLD 05/04/04 1.030 50,000 1 1,430.56 1.044 CP HOUSEHOLD 05/04/04 1.030 50,000 1 1,430.56 1.044 CP CITICORP 05/04/04 1.030 50,000 4 5,722.22 1.044 CP CITICORP 05/04/04 1.030 50,000 4 5,722.22 1.044 CP HOUSEHOLD 05/04/04 1.040 50,000 4 5,777.78 1.055 CP HOUSEHOLD 05/04/04 1.040 50,000 4 5,777.78 1.055 06/04/04 PURCHASES CB JP MORGAN 5.250% 05/30/07 3.370 10,000 n 05/05/04 REDEMPTIONS CP GMAC 05/05/04 1.250 50,000 56 97,222.22 1.270 CP GMAC 05/05/04 1.250 50,000 56 97,222.22 1.270 CP JP MORGAN 05/05/04 1.020 50,000 65 92,083.33 1.036 CP JP MORGAN 05/05/04 1.020 50,000 65 92,083.33 1.036 CP JP MORGAN 05/05/04 1.020 50,000 65 92,083.33 1.036 CP JP MORGAN 05/05/04 1.020 50,000 65 92,083.33 1.036 CP BEAR 05/05/04 1.050 50,000 120 175,000.00 1.071 CP BEAR 05/05/04 1.050 50,000 120 175,000.00 1.071 05/06/04 PURCHASES ,_ CB B/A 6.200% 02/15/06 2.530 13,480 06/06/04 NO REDEMPTIONS 06/06/04 PURCHASES CB GMAC 6.750% 01/15/06 3.090 11,000 06/07/04 NO REDEMPTIONS 05/07/04 NO PURCHASES 05/10/04 REDEMPTIONS BN WORLD 1.010% 05/10/04 1.030 50,000 25 35,763.39 1.044 BN WORLD 1.010% 05/10/04 1.030 50,000 25 35,763.39 1.044 CD SOC GEN 1.050% 05/10/04 1.050 50,000 124 180,833.33 1.067 CD SOC GEN 1.050% 05/10/04 1.050 50,000 124 180,833.33 1.067 CD SOC GEN 1.050% 05/10/04 1.050 50,000 124 180,833.33 1.067 CD SOC GEN 1.050% 05/10/04 1.050 50,000 124 180,833.33 1.067 CP GECC 05/10/04 1.020 50,000 25 35,416.67 1.035 CP GECC 05/10/04 1.020 50,000 25 35,416.67 1.035 CP GECC 05/10/04 1.020 50,000 25 35,416.67 1.035 CP GECC 05/10/04 1.020 50,000 25 35,416.67 1.035 CP GECC 05/10/04 1.020 50,000 25 35,416.67 1.035 CP GECC 05/10/04 1.020 50,000 25 35,416.67 1.035 CP GECC 05/10/04 1.020 50,000 25 35,416.67 1.035 CP CITI GLOBAL 05/10/04 1.020 50,000 33 46,750.00 1.035 CP CITI GLOBAL 05/10/04 1.020 50,000 33 46,750.00 1.035 CP FCAR 05/10/04 1.020 50,000 60 85,000.00 1.036 CP CITICORP 05/10/04 1.040 40,000 73 84,355.56 1.060 CP GMAC 05/10/04 1.340 40,000 125 186,111.11 1.369 CP GECC 05/10/04 1.090 50,000 138 208,916.67 1.113 CP GECC 05/10/04 1.090 50,000 138 208,916.67 1.113 CP GECC 05/10/04 1.090 50,000 138 208,916.67 1.113 CP GECC 05/10/04 1.100 50,000 139 212,361.11 1.123 CP GECC 05/10/04 1.100 50,000 139 212,361.11 1.123 DISC NOTES FHLMC 05/10/04 1.040 18,367 124 65,794.68 1.061 DISC NOTES FHLMC 05/10/04 1.040 50,000 124 179,111.11 1.061 5 06/10/04 PURCHASES CB W/F 5.900% 05/21/06 2.670 10,950 CID JP MORGAN 08/09/04 1.140 50,000 CID JP MORGAN 08/09/04 1.140 50,000 CID JP MORGAN 08/10/04 1.140 50,000 CID JP MORGAN 08/10/04 1.140 50,000 CID NCAT 09/01/04 1.200 35,000 CID CITI GLOBAL 09/02/04 1.120 50,000 CID CITI GLOBAL 09/02/04 1.120 50,000 CID CITI GLOBAL 09/01/04 1.120 50,000 CID CITI GLOBAL 09/01/04 1.120 50,000 CID CITI GLOBAL 09/01/04 1.120 50,000 DISC NOTES FNMA 10/20/04 1.305 5,000 DISC NOTES FNMA 10/20/04 1.305 50,000 DISC NOTES FNMA 10/20/04 1.305 50,000 DISC NOTES FNMA 11/24/04 1.370 50,000 DISC NOTES FNMA 11/24/04 1.370 50,000 06/11/04 REDEMPTIONS CD BK SCOT 1.070% 05/11/04 1.060 50,000 124 CID GOLDMAN 05/11/04 1.030 50,000 40 CID GOLDMAN 05/11/04 1.030 50,000 40 05/11/04 PURCHASES BN WORLD 1.050% 07/01 /04 1.070 50,000 BN WORLD 1.050% 07/01/04 1.070 50,000 BN WORLD 1.050% 07/02/04 1.070 50,000 BN WORLD 1.050% 07/02/04 1.070 50,000 BN B/A 1.130% 08/20/04 1.130 50,000 BN B/A 1.130% 08/20/04 1.130 50,000 BN B/A 1.130% 08/20/04 1.130 50,000 CB BANK ONE 6.500% 02/01/06 2.510 20,000 CD MONTREAL 1.310% 10/08/04 1.310 50,000 CD MONTREAL 1.310% 10/08/04 1.310 50,000 CD MONTREAL 1.310% 10/08/04 1.310 50,000 CD SOC GEN 1.310% 10/08/04 1.310 50,000 CD SOC GEN 1.310% 10/08/04 1.310 50,000 CD SOC GEN 1.310% 10/08/04 1.310 50,000 CD NOVA SCOT 1.310% 10/08/04 1.310 50,000 CD NOVA SCOT 1.310% 10/08/04 1.310 50,000 CD NOVA SCOT 1.310% 10/08/04 1.310 50,000 CD HSBC 1.430% 11/24/04 1.430 50,000 CD HSBC 1.430% 11/24/04 1.430 50,000 CD HSBC 1.430% 11/24/04 1.430 50,000 CD HSBC 1.430% 11/24/04 1.430 50,000 CD FORTIS 1.430% 11/24/04 1.430 50,000 CD FORTIS 1.430% 11/24/04 1.430 50,000 CD HSBC 1.450% 11/30/04 1.445 50,000 CD HSBC 1.450% 11/30/04 1.445 50,000 6 182,561.82 1.078 57,222.22 1.045 57,222.22 1.045 05/11/04 PURCHASES (continued) CD HSBC 1.450% 11/30/04 1.445 50,000 CD HSBC 1.450% 11/30/04 1.445 50,000 CD ABN AMRO 1.730% 02/25/05 1.720 50,000 CD ABN AMRO 1.730% 02/25/05 ' 1.720 50,000 CD ABN AMRO 1.730% 02/25/05 1.720 50,000 CD BARCLAYS 1.700% 02/25/05 1.700 50,000 CD BARCLAYS 1.700% 02/25/05 1.700 50,000 CD US BANK 1.720% 02/28/05 1.720 50,000 CD US BANK 1.720% 02/28/05 1.720 50,000 CD WASHINGTON 1.780% 02/28/05 1.780 50,000 CD WASHINGTON 1.780% 02/28/05 1.780 50,000 CD WASHINGTON 1.780% 02/28/05 1.780 50,000 CD WASHINGTON 1.780% 02/28/05 1.780 50,000 CP SAFEWAY 06/01/04 1.060 50,000 CP GMAC 07/01/04 1.280 50,000 CP GMAC 07/01/04 1.280 50,000 CP GMAC 07/01/04 1.280 50,000 CP GMAC 07/01/04 1.280 50,000 CP CITICORP 07/12/04 1.080 50,000 CP CITICORP 07/12/04 1.080 50,000 CP CITICORP 07/20/04 1.080 50,000 CP CITICORP 07/20/04 1.080 50,000 CP GECC 08/02/04 1.150 50,000 CP GECC 08/02/04 1.150 50,000 CP GECC 08/09/04 1.150 50,000 CP GECC 08/09/04 1.150 50,000 CP CITI GLOBAL 08/10/04 1.125 50,000 CP BARTON 08/20/04 1.140 20,000 CP B/A 10/01/04 1.340 50,000 CP B/A 10/01/04 1.340 50,000 CP B/A 10/01/04 1.340 50,000 CP B/A 10/01/04 1.340 50,000 CP B/A 10/01/04 1.340 50,000 CP B/A 10/01/04 1.340 50,000 CP B/A 10/01/04 1.340 50,000 CID B/A 10/01/04 1.340 50,000 CP B/A 10/01/04 1.340 50,000 CP B/A 10/01/04 1.340 50,000 CP GECC 10/08/04 1.330 50,000 CP GECC 10/08/04 1.330 50,000 CP GECC 10/08/04 1.330 50,000 CP GECC 10/08/04 1.330 50,000 CP GECC 10/13/04 1.330 50,000 CP GECC 10/13/04 1.330 50,000 CP GECC 10/18/04 1.330 50,000 CP GECC 10/18/04 1.330 50,000 CP GECC 10/20/04 1.330 50,000 CP GECC 10/20/04 1.330 50,000 CP GECC 10/20/04 1.330 50,000 CP GECC 10/20/04 1.330 50,000 7 05/11/04 PURCHASES (continued) DISC NOTE FHLB 11/05/04 1.385 35,000 DISC NOTE FHLB 11/05/04 1.385 50,000 DISC NOTE FHLMC 11/09/04 1.390 33,334 DISC NOTE FHLMC 11/09/04 1.390 50,000 DISC NOTE FHLMC 11/24/04 1.380 50,000 DISC NOTE FHLMC 11/24/04 1.380 50,000 DISC NOTE FHLMC 11/24/04 1.380 50,000 DISC NOTE FHLMC 11/24/04 1.380 50,000 DISC NOTE FHLMC 02/08/05 1.640 50,000 DISC NOTE FHLMC 02/08/05 1.640 50,000 DISC NOTE FNMA 02/28/05 1.620 50,000 DISC NOTE FNMA 02/28/05 1.620 50,000 DISC NOTE FNMA 02/28/05 1.620 50,000 DISC NOTE FNMA 02/28/05 1.620 50,000 MTN JP MORGAN 5.350% 03/01 /07 3.380 32,164 MTN JP MORGAN 5.250% 05/30/07 3.430 15,000 TREAS BILL 11/04/04 1.170 50,000 TREAS BILL 11/04/04 1.170 50,000 TREAS BILL 11/04/04 1.170 50,000 TREAS BILL 11/04/04 1.170 50,000 TREAS BILL 11/04/04 1.170 50,000 TREAS BILL 11/04/04 1.170 50,000 TREAS BILL 11/04/04 1.173 50,000 TREAS BILL 11/04/04 1.173 50,000 TREAS BILL 11/04/04 1.173 50,000 TREAS BILL 11/04/04 1.173 50,000 TREAS NOTE 2.250% 04/30/06 2.350 50,000 TREAS NOTE 2.250%. 04/30/06 2.350 50,000 TREAS NOTE 2.250% 04/30/06 2.370 50,000 TREAS NOTE 2.250% 04/30/06 2.370 50,000 TREAS NOTE 2.250% 04/30/06 2.370 50,000 TREAS NOTE 2.250% 04/30/06 2.370 50,000 TREAS NOTE 2.250% 04/30/06 2.370 50,000 TREAS NOTE 2.250% 04/30/06 2.370 50,000 TREAS NOTE 2.250% 04/30/06 2.376 50,000 TREAS NOTE 2.250% 04/30/06 2.376 50,000 TREAS NOTE 2.250% 04/30/06 2.376 50,000 TREAS NOTE 2.250% 04/30/06 2.376 50,000 TREAS NOTE 2.250% 04/30/06 2.374 50,000 TREAS NOTE 2.250% 04/30/06 2.374 50,000 TREAS NOTE 2.250% 04/30/06 2.374 50,000 TREAS NOTE 2.250% 04/30/06 2.374 50,000 TREAS NOTE 2.250% 04/30/06 2.608 50,000 TREAS NOTE 2.250% 04/30/06 2.608 50,000 TREAS NOTE 2.250% 04/30/06 2.610 50,000 TREAS NOTE 2.250% 04/30/06 2.610 50,000 FHLB 2.250% 05/15/06 2.817 50,000 FHLB 2.250% 05/15/06 2.817 50,000 FHLB 1.875% 06/15/06 2.670 50,000 FHLB 1.875% 06/15/06 2.670 50,000 8 06/11/04 PURCHASES (continued) FHLB 2.375% 08/15/06 2.750 50,000 FHLB 2.375% 08/15/06 2.750 50,000 FHLB 3.500% 08/15/06 2.770 50,000 FHLB 3.500% 08/15/06 2.770 50,000 FHLB 2.875% 09/15/06 3.130 50,000 FHLB 2.875% 09/15/06 3.130 50,000 06/12/04 NO REDEMPTIONS 05/12/04 PURCHASES BN BANC ONE 1.710% 02/28/05 1.710 50,000 BN BANC ONE 1.710% 02/28/05 1.710 50,000 CD SVENSKA 1.460% 11/30/04 1.460 50,000 CD SVENSKA 1.460% 11/30/04 1.460 50,000 CID COUNTRY 05/26/04 1.050 3,000 CID COUNTRY 05/26/04 1.050 50,000 CID W/F 06/30/04 1.020 50,000 CID W/F 06/30/04 1.020 50,000 CID GECC 07/12/04 1.070 25,000 CID GECC 07/12/04 1.070 50,000 CID CITI GLOBAL 08/02/04 1.100 50,000 . CID CITI GLOBAL 08/02/04 1.100 50,000 CID COCA COLA 08/02/04 1.100 50,000 DISC NOTE FNMA 08/04/04 1.110 50,000 DISC NOTE FNMA 08/04/04 1.110 50,000 DISC NOTE FNMA 08/04/04 1.110 50,000 DISC NOTE FNMA 08/04/04 1.110 50,000 DISC NOTE FNMA 10/20/04 1.295 45,000 DISC NOTE FNMA 10/20/04 1.295 50,000 DISC NOTE FHLMC 10/20/04 1.260 50,000 DISC NOTE FHLMC 10/20/04 1.260 50,000 DISC NOTE FNMA 11/03/04 1.390 50,000 DISC NOTE FNMA 11/03/04 1.390 50,000 DISC NOTE FHLMC 12/29/04 1.440 50,000 DISC NOTE FHLMC 12/29/04 1.440 50,000 DISC NOTE FHLMC 02/28/05 1.600 50,000 DISC NOTE FHLMC 02/28/05 1.600 50,000 DISC NOTE FHLMC 02/28/05 1.600 50,000 DISC NOTE FHLMC 02/28/05 1.600 50,000 MTN COUNTRY 5.500% 02/01/07 3.701 25,000 06/13/04 NO REDEMPTIONS 05/13/04 PURCHASES CD CIBC 1.720% 02/28/05 1.720 50,000 CD CIBC 1.720% 02/28/05 1.720 50,000 CID COUNTRYWIDE 05/26/04 1.040 50,000 CID COUNTRYWIDE 05/26/04 1.040 50,000 9 06/13/04 PURCHASES (continued) CID HOUSEHOLD 05/26/04 1.000 50,000 CID HOUSEHOLD 05/26/04 1.000 50,000 06/14/04 NO REDEMPTIONS 06/14/04 NO PURCHASES 05/15/04 REDEMPTIONS TREAS NOTES 7.250% 05/15/04 3.134 50,000 814 3,686,615.16 3.134 TREAS NOTES 7.250% 05/15/04 3.134 50,000 814 3,686,615.16 3.134 TREAS NOTES 7.250% 05/15/04 3.134 50,000 814 3,686,615.16 3.134 TREAS NOTES 7.250% 05/15/04 3.134 50,000 814 3,686,615.16 3.134 TREAS NOTES 7.250% 05/15/04 3.116 50,000 815 3,671,238.34 3.116 TREAS NOTES 7.250% 05/15/04 3.116 50,000 815 3,671,238.34 3.116 TREAS NOTES 7.250% 05/15/04 3.135 50,000 815 3,692,722.72 3.135 TREAS NOTES 7.250% 05/15/04 3.135 50,000 815 3,692,722.72 3.135 TREAS NOTES 7.250% 05/15/04 3.270 50,000 821 3,873,899.34 3.270 TREAS NOTES 7.250% 05/15/04 3.270 50,000 821 3,873,899.34 3.270 TREAS NOTES 5.250% 05/15/04 3.188 50,000 842 3,781,465.81 3.187 TREAS NOTES 5.250% 05/15/04 3.215 50,000 842 3,812,715.81 3.215 TREAS NOTES 5.250% 05/15/04 3.267 50,000 842 3,871,309.56 3.267 •TREAS NOTES 5.250% 05/15/04 3.267 50,000 842 3,871,309.56 3.267 TREAS NOTES 5.250% 05/15/04 3.270 50,000 842 3,875,215.81 3.270 TREAS NOTES 5.250% 05/15/04 3.270 50,000 842 3,875,215.81 3.270 TREAS NOTES 5.250% 05/15/04 3.205 50,000 844 3,811,593.58 3.205 TREAS NOTES 5.250% 05/15/04 3.205 50,000 844 3,811,593.58 3.205 TREAS NOTES 5.250% 05/15/04 3.205 50,000 844 3,811,593.60 3.205 TREAS NOTES 5.250% 05/15/04 3.205 50,000 844 3,811,593.60 3.205 06/17/04 REDEMPTIONS DISC NOTES FHLMC 05/17/04 1.070 50,000 147 218,458.33 1.093 DISC NOTES FHLMC 05/17/04 1.070 24,947 147 108,997.60 1.093 DISC NOTES FNMA 05/17/04 1.065 20,000 151 89,341.66 1.088 DISC NOTES FNMA 05/17/04 1.065 50,000 151 223,354.16 1.088 DISC NOTES FNMA 05/17/04 1.065 50,000 151 223,354.16 1.088 DISC NOTES FNMA 05/17/04 1.060 50,000 154 226,722.22 1.083 DISC NOTES FNMA 05/17/04 1.060 50,000 154 226,722.22 1.083 05/17/04 PURCHASES CD HSBC 1.140% 08/20/04 1.140 50,000 CD HSBC 1.140% 08/20/04 1.140 50,000 CD STNRD CH 1.430% 11/24/04 1.430 50,000 CD ANZ 1.420% 11/24/04 1.430 50,000 CD ANZ 1.420% 11/24/04 1.430 50,000 CID COUNTRY 05/18/04 1.070 46,195 CID GECC 05/18/04 1.060 50,000 CID GECC 05/18/04 1.060 50,000 10 06/17/04 PURCHASES (continued) CID GECC 05/18/04 1.060 50,000 CID GECC 05/18/04 1.060 50,000 CID GECC 05/18/04 1.060 50,000 CID GECC 05/18/04 1.060 50,000 CID GECC 05/18/04 1.060 .50,000 CID GECC 05/18/04 1.060 50,000 CID AMER EXP 05/18/04 1.040 50,000 CID AMER EXP .05/18/04 1.040 50,000 CID AMER EXP 05/18/04 1.040 50,000 CID AMER EXP 05/18/04 1.040 50,000 DISC NOTES FHLMC 08/10/04 1.120 50,000 DISC NOTES FHLMC 08/10/04 1.120 50,000 DISC NOTES FNMA 08/11/04 1.120 50,000 DISC NOTES FNMA 08/11/04 1.120 50,000 DISC NOTES FNMA 11/03/04 1.370 50,000 DISC NOTES FNMA 11/03/04 1.370 50,000 DISC NOTES FHLB 11/12/04 1.370 50,000 DISC NOTES FHLB 11/12/04 1.370 50,000 DISC NOTES FHLB 11/12/04 1.370 50,000 DISC NOTES FHLB 11/12/04 1.370 50,000 DISC NOTES FNMA 12/01/04 1.430 50,000 DISC NOTES FNMA 12/01/04 1.430 50,000 DISC NOTES FNMA 12/01/04 1.430 50,000 DISC NOTES FHLMC 12/06/04 1.400 50,000 DISC NOTES FHLMC 12/06/04 1.400 50,000 DISC NOTES FHLMC 12/08/04 1.400 50,000 DISC NOTES FHLMC 12/08/04 1.400 50,000 06/18/04 REDEMPTIONS CID AMER EXP 05/18/04 1.040 50,000 1 1,444.44 1.054 CID AMER EXP 05/18/04 1.040 50,000 1 1,444.44 1.054 CID AMER EXP 05/18/04 1.040 50,000 1 1,444.44 1.054 CID AMER EXP 05/18/04 1.040 50,000 1 1,444.44 1.054 CID COUNTRY 05/18/04 1.070 46,195 1 1,373.02 1.085 CID GECC 05/18/04 1.060 50,000 1 1,472.22 1.075 CID GECC 05/18/04 1.060 50,000 1 1,472.22 1.075 CID GECC 05/18/04 1.060 50,000 1 1,472.22 1.075 CID GECC 05/18/04 1.060 50,000 1 1,472.22 1.075 CID GECC 05/18/04 1.060 50,000 1 1,472.22 1.075 CID GECC 05/18/04 1.060 50,000 1 1,472.22 1.075 CID GECC 05/18/04 1.060 50,000 1 1,472.22 1.075 CID GECC 05/18/04 1.060 50,000 1 1,472.22 1.075 05/18/04 PURCHASES CID COUNTRY 05/19/04 1.030 50,000 CID COUNTRY 05/19/04 1.030 50,000 CID COUNTRY 05/19/04 1.030 50,000 CID COUNTRY 05/19/04 1.030 50,000 11 05/18/04 PURCHASES (continued) CID GECC CID GECC CID GECC DISC NOTES FNMA DISC NOTES FNMA DISC NOTES FNMA DISC NOTES FNMA DISC NOTES FNMA DISC NOTES FNMA DISC NOTES FNMA DISC NOTES FNMA 05/19/04 REDEMPTIONS CID COUNTRY CID COUNTRY CID COUNTRY CID COUNTRY CID GECC CID GECC CID GECC 06/19/04 NO PURCHASES 06/20/04 REDEMPTIONS DISC NOTES FHLMC DISC NOTES FHLMC DISC NOTES FHLMC 06/20/04 PURCHASES CD RB CANADA CD RB CANADA CID JP MORGAN CID JP MORGAN CID JP MORGAN CID JP MORGAN CID JP MORGAN CID JP MORGAN DISC NOTES FNMA DISC NOTES FNMA 05/21/04 NO REDEMPTIONS 06/21/04 PURCHASES CID GECC CID GECC CID W/F 05/19/04 1.030 50,000 05/19/04 1.030 50,000 05/19/04 1.030 50,000 11/03/04 1.400 50,000 11/03/04 1.400 50,000 11/03/04 1.400 50,000 11/03/04 1.400 50,000 11/03/04 1.400 50,000 11/03/04 1.400 24,993 02/28/05 1.610 50,000 02/28/05 1.610 50,000 05/19/04 1.030 50,000 1 1,430.56 1.044 05/19/04 1.030 50,000 1 1,430.56 1.044 05/19/04 1.030 50,000 1 1,430.56 1.044 05/19/04 1.030 50,000 1 1,430.56 1.044 05/19/04 1.030 50,000 1 1,430.56 1.044 05/19/04 1.030 50,000 1 1,430.56 1.044 05/19/04 1.030 50,000 1 1,430.56 1.044 05/20/04 1.065 05/20/04 1.065 05/20/04 1.065 1.720% 02/28/05 1.715 1.720% 02/28/05 1.715 07/20/04 1.100 07/26/04 1.100 07/26/04 1.100 08/20/04 1.200 08/20/04 1.200 08/20/04 1.200 02/28/05 1.650 02/28/05 1.650 06/10/04 1.030 06/10/04 1.030 06/10/04 1.030 12 45,000 150 199,687.50 50,000 150 221,875.00 50,000 150 221,875.00 50,000 50,000 50,000 50,000 50,000 25,000 50,000 50,000 50,000 50,000 25,000 50,000 25,000 1.088 1.088 1.088 06/21/04 PURCHASES (continued) CP W/F 06/10/04 1.030 50,000 DISC NOTES FNMA 10/27/04 1.300 50,000 MTN JP MORGAN 5.625% 08/15/06 3.105 10,700 05/24/04 NO REDEMPTIONS 05/24/04 PURCHASES CID GECC 05/25/04 1.000 50,000 CID GECC 05/25/04 1.000 50,000 CID GECC 05/25/04 1.000 50,000 CID GECC 05/25/04 1.000 50,000 CID GECC 05/25/04 1.000 50,000 CID GECC 05/25/04 1.000 50,000 DISC NOTES FNMA 10/13/04 1.320 25,000 DISC NOTES FNMA 10/13/04 1.320 50,000 DISC NOTES FNMA 10/13/04 1.320 50,000 DISC NOTES FNMA 10/13/04 1.320 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 TREAS BILL 11/18/04 1.350 50,000 06/26/04 REDEMPTIONS CID GECC 05/25/04 1.000 50,000 1 1,,388.89 1.014 CID GECC 05/25/04 1.000 50,000 1 1,388.89 1.014 CID GECC 05/25/04 1.000 50,000 1 1,388.89 1.014 CID GECC 05/25/04 1.000 50,000 1 1,388.89 1.014 CID GECC 05/25/04 1.000 50,000 1 1,388.89 1.014 CID GECC 05/25/04 1.000 50,000 1 1,388.89 1.014 05/26/04 PURCHASES CD RABO CD RABO CID CITI GLOBAL CID CITI GLOBAL CID NCAT CID NCAT CID NCAT DISC NOTES FNMA 1.300% 10/01/04 1.295 50,000 1.300% 10/01 /04 1.295 50,000 08/27/04 1.220 40,000 08/27/04 1.220 50,000 10/01 /04 1.280 10,000 10/01 /04 1.280 50,000 10/01/04 1.280 50,000 02/28/05 1.650 50,000 13 06/26/04 PURCHASES (continued) DISC NOTES FNMA 02/28/05 1.650 50,000 DISC NOTES FNMA 02/28/05 1.650 50,000 DISC NOTES FNMA 02/28/05 1.650 50,000 DISC NOTES FNMA 02/28/05 1.650 50,000 DISC NOTES FNMA 02/28/05 1.650 50,000 DISC NOTES FNMA 02/28/05 1.650 50,000 DISC NOTES FNMA 02/28/05 1.650 50,000 06/26/04 REDEMPTIONS CD US BANK 1.100% 05/26/04 1.100 50,000 163 249,027.78 1.118 CD US BANK 1.100% 05/26/04 1.100 50,000 163 249,027.78 1.118 CD US BANK 1.100% 05/26/04 1.100 50,000 163 249,027.78 1.118 CD US BANK 1.100% 05/26/04 1.100 50,000 163 249,027.78 1.118 CD RABO 1.085% 05/26/04 1.080 50,000 163 244,505.50 1.098 CD RABO 1.085% 05/26/04 1.080 50,000 163 244,505.50 1.098 CD RABO 1.085% 05/26/04 1.080 50,000 163 244,505:50 1.098 CD RABO 1.085% 05/26/04 1.080 50,000 163 244,505.50 1.098 CP COUNTRY 05/26/04 1.040 50,000 13 18,777.78 1.055 CP COUNTRY 05/26/04 1.040 50,000 13 18,777.78 1.055 CP HOUSEHOLD 05/26/04 1.000 50,000 13 18,055.56 1.014 CP HOUSEHOLD 05/26/04 1.000 50,000 13 18,055.56 1.014 CP COUNTRY 05/26/04 1.050 3,000 14 1,225.00 1.065 CP COUNTRY 05/26/04 1.050 50,000 14 20,416.67 1.065 CP CITICORP 05/26/04 1.050 50,000 86 125,416.67 1.067 CP CITICORP 05/26/04 1.050 50,000 86 125,416.67 1.067 CP CITICORP 05/26/04 1.050 50,000 86 125,416.67 1.067 CP CITICORP 05/26/04 1.050 50,000 86 125,416.67 1.067 CP GECC 05/26/04 1.030 50,000 86 123,027.78 1.047 CP GECC 05/26/04 1.030 50,000 86 123,027.78 1.047 CP GOLDMAN 05/26/04 1.060 41,000 139 167,803.89 1.082 CP GOLDMAN 05/26/04 1.060 50,000 139 204,638.89 1.082 CP GECC 05/26/04 1.100 50,000 155 236,805.56 1.124 CP GECC 05/26/04 1.100 50,000 155 236,805.56 1.124 CP GOLDMAN 05/26/04 1.140 45,000 184 262,200.00 1.166 DISC NOTES FNMA 05/26/04 1.000 25,000 89 61,805.56 1.019 DISC NOTES FNMA 05/26/04 1.000 50,000 89 123,611.11 1.019 DISC NOTES FNMA 05/26/04 1.000 50,000 89 123,611.11 1.019 05/26/04 PURCHASES MTN GMAC 5.250% 05/16/05 2.545 16,000 06/27/04 REDEMPTIONS DISC NOTES FNMA 05/27/04 1.140 50,000 212 335,666.67 1.167 DISC NOTES FNMA 05/27/04 1.140 50,000 212 335,666.67 1.167 DISC NOTES FNMA 05/27/04 1.140 50,000 212 335,666.67 1.167 DISC NOTES FNMA 05/27/04 1.140 50,000 212 335,666.67 1.167 14 05/27/04 NO PURCHASES 06/28/04 REDEMPTIONS BN WORLD 0.990% 05/28/04 1.010 50,000 64 89,774.59 1.024 BN WORLD 0.990% 05/28/04 1.010 50,000 64 89,774.59 1.024 BN WORLD 0.990% 05/28/04 1.010 50,000 64 89,774.59 1.024 BN WORLD 0.990% 05/28/04 1.010 50,000 64 89,774.59 1.024 CD BARCLAYS 1.015% 05/28/04 1.015 50,000 91 128,284.72 1.032 CD BARCLAYS 1.015% 05/28/04 1.015 50,000 91 128,284.72 1.032 CD BARCLAYS 1.015% 05/28/04 1.015 50,000 91 128,284.72 1.032 CD TORONTO 1.040% 05/28/04 1.040 50,000 92 132,888.89 1.057 CD TORONTO 1.040% 05/28/04 1.040 50,000 92 132,888.89 1.057 CD CS/FST BOSTON 1.040% 05/28/04 1.040 50,000 92 132,888.89 1..057 CD CS/FST BOSTON 1.040% 05/28/04 1.040 50,000 92 132,888.89 1.057 CD CS/FST BOSTON 1.040% 05/28/04 1.040 50,000 92 132,888.89 1.057 CD CS/FST BOSTON 1.040% 05/28/04 1.040 50,000 92 132,888.89 1.057 CD W/F 1.020% 05/28/04 1.020 50,000 98 138,833.33 1.037 CD W/F 1.020% 05/28/04 1.020 50,000 98 138,833.33 1.037 CD SOC GEN 1.030% 05/28/04 1.030 50,000 98 140,194.44 1.047 CD W/F 1.020% 05/28/04 1.020 50,000 123 174,250.00 1.037 CD W/F 1.020% 05/28/04 1.020 50,000 123 174,250.00 1.037 CD UBS 1.095% 05/28/04 1.095 50,000 157 238,770.83 1.113 CD UBS 1.095% 05/28/04 1.095 50,000 157 238,770.83 1.113 CD UBS 1.095% 05/28/04 1.095 50,000 157 238,770.83 1.113 CD UBS 1.095% 05/28/04 1.095 50,000 157 238,770.83 1.113 CP GMAC 05/28/04 1.230 50,000 57 97,375.00 1.249 CP GECC 05/28/04 1.020 50,000 64 90,666.67 1.036 CP GECC 05/28/04 1.020 50,000 64 90,666.67 1.036 CP GECC 05/28/04 1.020 50,000 64 90,666.67 1.036 CP GECC 05/28/04 1.020 50,000 64 90,666.67 1.036 CP GECC 05/28/04 1.030 50,000 88 125,888.89 1.047 CP GECC 05/28/04 1.030 50,000 88 125,888.89 1.047 CP NCAT 05/28/04 1.020 40,000 91 103,133.33 1.040 CP HOUSEHOLD 05/28/04 1.040 10,000 120 34,666.67 1.061 CP HOUSEHOLD 05/28/04 1.040 50,000 120 173,333.33 1.061 CP HOUSEHOLD 05/28/04 1.040 50,000 120 173,333.33 1.061 CP CITI GLOBAL 05/28/04 1.040 50,000 134 193,555.55 1.061 CP CITI GLOBAL 05/28/04 1.040 50,000 134 193,555.55 1.061 CP GOLDMAN 05/28/04 1.080 29,300 143 125,697.00 1.103 CP GOLDMAN 05/28/04 1.080 50,000 143 214,500.00 1.103 CP GECC 05/28/04 1.110 50,000 169 260,541.67 1.134 CP GECC 05/28/04 1.110 50,000 169 260,541.67 1.134 CP GECC 05/28/04 1.110 50,000 169 260,541.67 1.134 CP GECC 05/28/04 1.110 50,000 169 260,541.67 1.134 DISC NOTES FNMA 05/28/04 0.980 50,000 57 77,583.33 0.995 DISC NOTES FNMA 05/28/04 0.980 50,000 345 469,583.33 1.006 05/28/04 PURCHASES CP GECC 06/08/04 1.010 50,000 CP GECC 06/08/04 1.010 50,000 15 06/28/04 PURCHASES (continued) CID GECC 06/08/04 1.010 50,000 CID GECC 06/08/04 1.010 50,000 CID GECC 06/08/04 1.010 50,000 CID GECC 06/08/04 1.010 50,000 CID GECC 06/09/04 1.010 50,000 CID GECC 06/09/04 1.010 50,000 CID GECC 06/10/04 1.010 50,000 CID GECC 06/10/04 1.010 50,000 CID GMAC 07/06/04 1.270 50,000 CID CITI GLOBAL 10/01/04 1.250 50,000 CID CITI GLOBAL 10/01/04 1.250 50,000 DISC NOTES FHLB 09/07/04 1.170 50,000 DISC NOTES FHLB 09/07/04 1.170 50,000 DISC NOTES FHLMC 10/12/04 1.295 25,000 DISC NOTES FHLMC 10/18/04 1.315 48,000 DISC NOTES FHLMC 10/18/04 1.315 50,000 DISC NOTES FHLMC 11/02/04 1.380 20,000 DISC NOTES FNMA 11/17/04 1.410 9,499 DISC NOTES FNMA 11/17/04 1.410 50,000 DISC NOTES FNMA 11/17/04 1.410 50,000 06/31/04 REDEMPTIONS TREAS NOTES 3.250% 05/31/04 0.949 50,000 348 459,144.47 0.949 TREAS NOTES 3.250% 05/31/04 0.949 50,000 348 459,144.47 0.949 TREAS NOTES 3.250% 05/31/04 0.949 50,000 348 459,144.47 0.949 TREAS NOTES 3.250% 05/31/04 0.949 50,000 348 459,144.47 0.949 TREAS NOTES 3.250% 05/31/04 0.949 50,000 348 459,144.47 0.949 TREAS NOTES 3.250% 05/31/04 0.949 50,000 348 459,144.47 0.949 TREAS NOTES 3.250% 05/31/04 0.953 50,000 348 461,097.59 0.953 TREAS NOTES 3.250% 05/31/04 0.953 50,000 348 461,097.59 0.953 TREAS NOTES 3.250% 05/31/04 2.823 50,000 707 2,745,005.12 2.823 TREAS NOTES 3.250% 05/31/04 2.823 50,000 707 2,745,005.12 2.823 TREAS NOTES 3.250% 05/31/04 2.823 50,000 707 2,745,005.12 2.823 TREAS NOTES 3.250% 05/31/04 2.823 50,000 707 2,745,005.12 2.823 TREAS NOTES 3.250% 05/31/04 2.823 50,000 707 2,745,005.12 2.823 TREAS NOTES 3.250% 05/31/04 2.823 50,000 707 2,745,005.12 2.823 TREAS NOTES 3.250% 05/31/04 2.823 50,000 707 2,745,005.12 2.823 TREAS NOTES 3.250% 05/31/04 2.823 50,000 707 2,745,005.12 2.823 TREAS NOTES 3.250% 05/31/04 2.841 50,000 707 2,762,583.25 2.841 TREAS NOTES 3.250% 05/31/04 2.841 50,000 707 2,762,583.25 2.841 TREAS NOTES 3.250% 05/31/04 2.841 50,000 707 2,762,583.24 2.841 TREAS NOTES 3.250% 05/31/04 2.841 50,000 707 2,762,583.24 2.841 16 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. g/ Outright purchase against Reverse Repurchase Agreement. h/ Security "SWAP" transactions. 1 Buy back agreement. RRS Reverse Repurchase Agreement. RRP Termination of Reverse Repurchase Agreement. 17 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($j DATE ALHAMBRA Bank of East Asia (USA) 01/14/04 1.020 3,095,000.00 07/14/04 Bank of East Asia (USA) 02/11/04 1.060 3,000,000.00 08/11/04 Bank of East Asia (USA) 05/19/04 1.050 6,000,000.00 08/18/04 Omni Bank 03/03/04 1.000 6,000,000.00 06/02/04 Omni Bank 05/14/04 1.090 2,000,000.00 08/13/04 Omni Bank 05/20/04 1.110 4,000,000.00 08/20/04 Omni Bank 05/27/04 1.110 2,000,000.00 08/25/04 Omni Bank 03/17/04 1.050 2,000,000.00 09/15/04 Omni Bank 04/02/04 1.050 2,000,000.00 10/01/04 Omni Bank 05/27/04 1.450 2,000,000.00 11/23/04 ARROYO GRANDE Mid -State Bank 12/12/03 1.060 5,000,000.00 06/11/04 Mid -State Bank 01/15/04 1.010 5,000,000.00 07/15/04 Mid -State Bank 02/11/04 1.050 5,000,000.00 08/11/04 Mid -State Bank 03/12/04 1.040 5,000,000.00 09/09/04 Mid -State Bank 04/14/04 1.090 5,000,000.00 10/13/04 Mid -State Bank 05/19/04 1.380 5,000,000.00 11/17/04 BREA Jackson Federal Bank 05/19/04 1.040 10,000,000.00 08/18/04 Pacific Western National Bank 02/04/04 1.030 4,000,000.00 08/04/04 CALABASAS First Bank of Beverly Hills FSB 12/17/03 1.040 10,000,000.00 06/16/04 First Bank of Beverly Hills FSB 03/04/04 1.070 10,000,000.00 09/02/04 First Bank of Beverly Hills FSB 05/06/04 1.230 10,000,000.00 11/04/04 CAMARI LLO First California Bank 12/05/03 1.090 2,000,000.00 06/04/04 First California Bank 01/28/04 1.030 2,000,000.00 07/28/04 First California Bank 01/28/04 1.030 4,000,000.00 07/28/04 First California Bank 03/24/04 1.060 6,000,000.00 09/22/04 CAMERON PARK Western Sierra National Bank 01/14/04 0.990 7,000,000.00 07/14/04 Western Sierra National Bank 02/11/04 1.030 6,000,000.00 08/11/04 18 NAME CHATSWORTH Premier America Credit Union CHICO Tri Counties Bank CHULA VISTA North Island Federal Credit Union CITY OF INDUSTRY EverTrust Bank EverTrust Bank CONCORD Bank of the West Bank of the West Bank of the West Bank of the West DUBLIN Operating Engineers FCU Operating Engineers FCU Operating Engineers FCU EL CENTRO Valley Independent Bank Valley Independent Bank Valley Independent Bank EL SEGUNDO First Coastal Bank NA First Coastal Bank NA Hawthorne Savings FSB Hawthorne Savings FSB Hawthorne Savings FSB Hawthorne Savings FSB TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 05/12/04 03/18/04 04/09/04 12/11/03 01 /29/04 03/18/04 04/08/04 04/29/04 '05/21 /04 12/12/03 02/11 /04 04/07/04 1.360 10, 000,000.00 11 /10/04 1.010 20,000,000.00 06/18/04 0.980 5,000,000.00 10/08/04 1.070 6,000,000.00 06/10/04 1.030 6,000,000.00 07/29/04 1.010 82,000,000.00 0.980 134,000,000.00 1.030 176,500,000.00 1.080 242,000,000.00 06/18/04 07/09/04 07/30/04 08/20/04 1.040 10,000,000.00 06/11/04 1.030 5,000,000.00 08/11/04 0.970 5,000,000.00 10/06/04 04/08/04 1.010 20,000,000.00 07/01/04 04/16/04 1.030 20,000,000.00 07/16/04 04/23/04 1.070 32,500,000.00 07/23/04 01/22/04 1.020 2,000,000.00 07/21/04 03/03/04 1.060 2,000,000.00 09/01/04 04/08/04 0.980 60,000,000.00 07/01/04 01/07/04 1.080 50,000,000.00 07/07/04 04/14/04 0.970 35,000,000.00 07/14/04 02/05/04 1.060 15,000,000.00 08/05/04 it!] NAME EL SEGUNDO (continued Hawthorne Savings FSB Xerox Federal Credit Union Xerox Federal Credit Union Xerox Federal Credit Union FAIRFIELD Westamerica Bank Westamerica Bank Westamerica Bank FRESNO United Security Bank FULLERTON Fullerton Community Bank Fullerton Community Bank GOLETA Pacific Capital Bank Pacific Capital Bank Pacific Capital Bank GRANADA HILLS First State Bank of California First State Bank of California HAWTHORNE Western Federal Credit Union IRVINE Commercial Capital Bank Commercial Capital Bank Commercial Capital Bank Commercial Capital Bank Commercial Capital Bank TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 05/20/04 1.110 25,000,000.00 08/18/04 03/04/04 1.080 20,000,000.00 09/02/04 03/10/04 1.040 7,000,000.00 09/09/04 05/20/04 1.400 20,000,000.00 11/17/04 04/09/04 0.980 60,000,000.00 07/09/04 04/15/04 0.990 30,000,000.00 07/15/04 04/14/04 0.990 35,000,000.00 07/15/04 04/21/04 1.150 40,000,000.00 10/20/04 01/23/04 1.020 8,000,000.00 07/23/04 05/19/04 1.390 9,000,000.00 11/17/04 12/10/03 1.030 85,000,000.00 06/09/04 02/13/04 1.050 61,000,000.00 08/13/04 04/01/04 1.050 78,000,000.00 10/01/04 03/19/04 1.030 2,000,000.00 09/17/04 04/22/04 1.170 3, 000, 000.00 10/21 /04 04/22/04 1.070 30,000,000.00 07/23/04 12/17/03 1.020 10,000,000.00 06/16/04 01/08/04 1.060 10,000,000.00 07/08/04 07/29/04 1.010 10,000,000.00 07/29/04 04/29/04 1.010 20,000,000.00 07/30/04 05/20/04 1.090 20,000,000.00 08/18/04 20 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE IRVINE (continued) Commercial Capital Bank 02/19/04 1.010 15,000,000.00 08/19/04 Commercial Capital Bank 02/26/04 1.060 14,000,000.00 08/26/04 Commercial Capital Bank 04/15/04 1.090 10,000,000.00 10/14/04 LA JOLLA Silvergate Bank 03/12/04 1.060 5,000,000.00 09/10/04 LAKEPORT Lake Community Bank 01/14/04 0.990 2,000,000.00 07/14/04 LODI Bank of Lodi 06/17/04 1.020 5,000,000.00 06/17/04 Bank of Lodi 03/24/04 1.080 5,000,000.00 09/22/04 Farmers & Merchant Bk Cen CA 04/08/04 1.080 10,000,000.00 10/07/04 LOS ANGELES Broadway Federal Bank 01/09/04 1.070 2,500,000.00 07/09/04 Broadway Federal Bank 03/12/04 1.050 3,000,000.00 69/10/04 Cathay Bank 02/18/04 1.030 15,000,000.00 08/18/04 Cathay Bank 03/03/04 1.050 17,000,000.00 09/01/04 Cathay Bank 03/10/04 1.030 30,000,000.00 09/09/04 Cathay Bank 04/08/04 1.100 38,000,000.00 10/07/04 Cathay Bank 05/12/04 1.370 25,000,000.00 11/10/04 Cedars Bank 01/07/04 1.080 5,000,000.00 07/07/04 Cedars Bank 02/20/04 1.040 2,000,000.00 08/20/04 Cedars Bank 03/12/04 1.050 4,500,000.00 09/10/04 Center Bank 12/23/03 1.000 5,000,000.00 06/23/04 Center Bank 01/22/04 1.010 5,000,000.00 07/21/04 Center Bank 03/17/04 1.050 40,000,000.00 09/15/04 Center Bank 04/08/04 1.080 10,000,000.00 10/07/04 CHB America Bank 03/03/04 0.980 2,000,000.00 06/02/04 CHB America Bank 01/15/04 0.990 1,000,000.00 07/15/04 CHB America Bank 04/14/04 1.090 3,300,000.00 07/15/04 CHB America Bank 05/21/04 1.080 4,000,000.00 08/20/04 CHB America Bank 03/05/04 1.030 2,000,000.00 09/01/04 CHB America Bank 03/31/04 1.050 3,000,000.00 09/29/04 Eastern International Bank 12/11/03 1.050 1,000,000.00 06/10/04 Eastern International Bank 05/05/04 1.210 900,000.00 11/03/04 21 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE LOS ANGELES (continued) Hanmi Bank 03/05/04 1.020 25,000,000.00 06/03/04 Hanmi Bank 03/17/04 1.010 25,000,000.00 06/17/04 Hanmi Bank 04/16/04 1.010 25,000,000.00 07/16/04 Hanmi Bank 05/05/05 1.020 25,000,000.00 08/05/04 Mellon First Business Bank 03/18/04 1.010 50,000,000.00 06/18/04 Mellon First Business Bank 04/09/04 0.980 50,000,000.00 07/09/04 Mirae Bank 04/16/04 1.160 4,000,000.00 10/15/04 Nara Bank, NA 03/12/04 1.010 10,000,000.00 06/11/04 Nara Bank, NA 04/23/04 1.020 5,000,000.00 07/22/04 Nara Bank, NA 04/23/04 1.020 10,000,000.00 07/22/04 Nara Bank, NA 04/22/04 1.020 10,000,000.00 07/22/04 Nara Bank, NA 02/04/04 1.050 10,000,000.00 08/04/04 Nara Bank, NA 05/13/04 1.100 5,000,000.00 08/12/04 Nara Bank, NA 05/19/04 1.040 5,000,000.00 08/18/04 Nara Bank, NA 04/08/04 1.080 5,000,000.00 10/07/04 Pacific Union Bank 12/15/03 1.040 20,000,000.00 06/16/04 Pacific Union Bank 01/08/04 1.080 10,000,000.00 07/08/04 Pacific Union Bank 04/29/04 1.030 10,000,000.00 07/30/04 Pacific Union Bank 03/04/04 1.070 20,000,000.00 09/02/04 Preferred Bank 05/07/04 1.040 4,000,000.00 08/06/04 Preferred Bank 03/19/04 1.060 31,000,000.00 09/17/04 Sae Han Bank 05/21/04 1.080 2,000,000.00 08/20/04 State Bank of India (California) 01/07/04 1.090 3,000,000.00 07/07/04 State Bank of India (California) 05/20/04 1.440 2,000,000.00 11/18/04 Wilshire State Bank 12/15/03 1.040 1,000,000.00 06/17/04 Wilshire State Bank 12/17/03 1.040 2,000,000.00 06/17/04 Wilshire State Bank 12/15/03 1.040 4,000,000.00 06/17/04 Wilshire State Bank 12/17/03 1.040 5,000,000.00 06/17/04 Wilshire State Bank 02/05/04 1.060 8,000,000.00 07/30/04 Wilshire State Bank 05/13/04 1.100 8,000,000.00 08/12/04 Wilshire State Bank 02/25/04 1.060 7,000,000.00 08/25/04 Wlshire State Bank 03/05/04 1.070 3,000,000.00 09/03/04 Wilshire State Bank 05/28/04 1.110 12,000,000.00 09/03/04 Wilshire State Bank 03/19/04 1.050 8,000,000.00 09/17/04 Wilshire State Bank 04/09/04 1.080 7,000,000.00 10/08/04 MERCED County Bank 12/03/03 1.100 5,000,000.00 06/02/04 County Bank 04/16/04 1.010 10,000,000.00 07/16/04 County Bank 03/10/04 1.040 10,000,000.00 09/09/04 22 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE MONTEREY PARK Trust Bank FSB 12/19/03 1.050 2,000,000.00 07/01/04 Trust Bank FSB 01/07/04 1.080 3,000,000.00 07/07/04 Trust Bank FSB 04/01 /04 1.050 3,000,000.00 10/01 /04 NORTH HIGHLANDS Safe Credit Union 04/16/04 1.000 5,000,000.00 07/16/04 Safe Credit Union 05/14/04 1.090 20,000,000.00 08/13/04 OAKDALE Oak Valley Community Bank 04/16/04 1.000 2,500,000.00 07/16/04 Oak Valley Community Bank 03/18/04 1.060 3,500,000.00 09/16/04 OAKLAND Metropolitian Bank 12/04/03 1.100 1,000,000.00 06/03/04 Metropolitian Bank 01/23/04 1.010 1,000,000.00 07/23/04 metropolitian Bank 04/28/04 1.010 500,000.00 07/29/04 Metropolitian Bank 04/28/04 1.010 1,000,000.00 07/29/04 Metropolitian Bank 02/26/04 1.060 1,000,000.00 08/26/04 Metropolitian Bank 03/24/04 1.050 2,000,000.00 09/22/04 ONTARIO Citizens Business Bank 12/05/03 1.080 25,000,000.00 06/04/04 Citizens Business Bank 02/06/04 1.060 30,000,000.00 08/06/04 Citizens Business Bank 03/24/04 1.050 30,000,000.00 09/22/04 Citizens Business Bank 04/02/04 1.050 25,000,000.00 10/01/04 Citizens Business Bank 05/20/04 1.420 30,000,000.00 11/18/04 PALO ALTO Bank of Petaluma 02/19/04 1.040 3,500,000.00 08/19/04 Bank of Petaluma 03/11/04 1.050 12,000,000.00 09/09/04 Bank of Santa Clara 02/19/04 1.040 20,000,000.00 08/19/04 Coast Commercial Bank 01/14/04 1.030 5,000,000.00 07/14/04 Coast Commercial Bank 02/19/04 1.050 20,000,000.00 08/19/04 Cupertino National Bank 01/14/04 1.020 10,000,000.00 07/14/04 Cupertino National Bank 03/11/04 1.050 10,000,000.00 09/09/04 Mid -Peninsula Bank 05/21/04 1.080 49,000,000.00 08/20/04 Mid -Peninsula Bank 04/28/04 1.010 95,000,000.00 07/29/04 23 NAME PALO ALTO (continued Mid -Peninsula Bank Mid -Peninsula Bank Mt. Diablo National Bank Peninsula Bank of Commerce PALOS VERDES ESTATES Malaga Bank Malaga Bank Malaga Bank Malaga Bank Malaga Bank PASADENA Community Bank Community Bank Community Bank Community Bank Community Bank Community Bank Wescom Credit Union Wescom Credit Union Wescom Credit Union PASO ROBLES Hacienda Bank PLACERVILLE El Dorado Savings Bank El Dorado Savings Bank PLEASANTON Valley Community Bank POMONA PFF Bank and Trust PFF Bank and Trust TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 02/19/04 1.030 5,000,000.00 08/19/04 03/11/04 1.040 10,000,000.00 09/09/04 03/11/04 1.050 10,000,000.00 09/09/04 02/19/04 1.030 15,000,000.00 08/19/04 12/17/03 1.020 4,000,000.00 06/16/04 12/17/03 1.020 5,000,000.00 06/16/04 02/20/04 1.020 10,000,000.00 08/20/04 03/05/04 1.050 4,000,000.00 09/03/04 05/13/04 1.370 7,000,000.00 11/10/04 12/17/03 1.040 10,000,000.00 06/16/04 01/09/04 1.070 10,000,000.00 07/09/04 03/17/04 1.050 10,000,000.00 09/15/04 04/08/04 1.080 10, 000, 000.00 10/07/04 04/ 14/04 1.090 15, 000, 000.00 10/ 13/04 05/06/04 1.230 15,000,000.00 11 /04/04 04/28/04 1.030 25,000,000.00 07/29/04 05/19/04 1.060 10,000,000.00 08/18/04 03/24/04 1.070 25,000,000.00 09/22/04 03/10/04 06/10/03 04/30/04 03/19/04 12/10/03 02/27/04 24 1.010 1,000,000.00 06/09/04 1.100 20,000,000.00 06/04/04 1.560 5,000,000.00 04/29/05 1.070 6,000,000.00 09/17/04 1.050 20,000,000.00 06/09/04 1.070 8,000,000.00 08/27/04 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE PORTERVILLE Bank of the Sierra 04/22/04 1.170 10,000,000.00 10/21/04 RANCHO SANTA FE La Jolla Bank, FSB 03/04/04 1.000 10,000,000.00 06/03/04 La Jolla Bank, FSB 02/04/04 1.030 25,000,000.00 08/04/04 La Jolla Bank, FSB 02/13/04 1.030 15,000,000.00 08/13/04 La Jolla Bank, FSB 05/20/04 1.090 25,000,000.00 08/18/04 La Jolla Bank, FSB 03/05/04 1.050 10,000,000.00 09/02/04 REDDING North Valley Bank 12/12/03 1.040 3,000,000.00 06/11/04 REDWOOD CITY Provident Central Credit Union 10/28/04 1.210 20,000,000.00 10/28/04 ROCKLIN Five Star Bank 01/28/04 1.000 2,000,000.00 07/28/04 Five Star Bank 03/31/04 1.030 2,000,000.00 09/29/04 RICHMOND Mechanics Bank 06/12/03 1.090 10,000,000.00 06/09/04 Mechanics Bank 07/09/03 1.110 10,000,000.00 07/08/04 Mechanics Bank 08/08/03 1.370 10,000,000.00 08/04/04 Mechanics Bank 09/12/03 1.290 10,000,000.00 09/10/04 Mechanics Bank 10/15/03 1.260 10,000,000.00 10/15/04 Mechanics Bank 10/31/03 1.300 10,000,000.00 10/29/04 Mechanics Bank 11/07/03 1.380 10,000,000.00 11/05/04 Mechanics Bank 03/03/04 1.260 10,000,000.00 03/03/05 Mechanics Bank 04/01/04 1.260 10,000,000.00 04/01/05 Mechanics Bank 04/21/04 1.450 10,000,000.00 04/21/05 RIVERSIDE Provident Savings Bank 03/25/04 1.050 25,000,000.00 09/23/04 SACRAMENTO American River Bank 12/19/03 1.030 1,000,000.00 06/18/04 25 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE SACRAMENTO (continued American River Bank 01/09/04 1.050 1,000,000.00 07/09/04 American River Bank 01/29/04 1.010 1,500,000.00 07/29/04 American River Bank 02/27/04 1.050 2,000,000.00 08/27/04 American River Bank 03/19/04 1.030 1,250,000.00 09/17/04 American River Bank 03/25/04 1.030 2,000,000.00 09/23/04 American River Bank 04/07/04 0.970 1,500,000.00 10/06/04 Bank of Sacramento 12/19/03 1.050 2,000,000.00 06/18/04 Bank of Sacramento 02/11 /04 1.060 1,500,000.00 08/11 /04 Bank of Sacramento 03/03/04 1.060 2,000,000.00 09/01/04 Merchants National Bank 01/22/04 1.010 2,000,000.00 07/21/04 Merchants National Bank 04/14/04 1.090 2,000,000.00 10/13/04 River City Bank 04/30/04 1.030 3,000,000.00 07/30/04 River City Bank 05/27/04 1.120 2,000,000.00 08/25/04 River City Bank 04/07/04 1.000 2,000,000.00 10/06/04 U.S. Bank 01/08/04 1.090 100,000,000.00 07/08/04 U.S. Bank 02/04/04 1.050 25,000,000.00 08/04/04 U.S. Bank 02/11/04 1.050 50,000,000.00 08/11/04 U.S. Bank 02/20/04 1.040 50,000,000.00 08/20/04 Union Bank of California 03/18/04 1.020 150,000,000.00 06/18/04 Union Bank of California 04/16/04 1.000 175,000,000.00 07/16/04 Union Bank of California 05/05/04 1.010 150,000,000.00 08/05/04 SAN DIEGO First Future Credit Union 12/03/03 1.090 15,000,000.00 06/02/04 First Future Credit Union 12/17/03 1.040 3,000,000.00 06/16/04 First Future Credit Union 12/17/03 1.040 5,000,000.00 06/16/04 First Future Credit Union 02/27/04 1.070 5,000,000.00 08/27/04 First United Bank 02/13/04 1.060 1,000,000.00 08/13/04 First United Bank 04/15/04 1.120 2,000,000.00 10/14/04 Mission Federal Credit Union 01/15/04 1.020 10,000,000.00 07/15/04 Mission Federal Credit Union 03/03/04 1.060 10,000,000.00 09/01/04 Neighborhood National Bank 02/20/04 1.020 2,000,000.00 08/20/04 SAN FRANCISCO America California Bank 01/08/04 1.090 4,000,000.00 07/08/04 America California Bank 03/05/04 1.080 2,000,000.00 09/03/04 Citibank (West) FSB 01/08/04 1.108 150,000,000.00 07/08/04 Citibank (West) FSB 01/15/04 1.050 100,000,000.00 07/15/04 Citibank (West) FSB 01/22/04 1.050 100,000,000.00 07/21/04 Citibank (West) FSB 01/28/04 1.050 25,000,000.00 07/28/04 26 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE SAN FRANCISCO (continued) Oceanic Bank 09/12/03 1.260 4,000,000.00 09/10/04 Trans Pacific National Bank 12/23/03 1.010 1,000,000.00 06/23/04 Trans Pacific National Bank 02/05/04 1.070 1,000,000.00 08/05/04 Trans Pacific National Bank 03/25/04 1.060 1,000,000.00 09/23/04 United Commercial Bank 12/05/03 1.090 25,000,000.00 06/04/04 United Commercial Bank 12/12/03 1.070 25,000,000.00 06/11/04 United Commercial Bank 04/09/04 0.990 55,000,000.00 07/09/04 United Commercial Bank 01/14/04 1.020 50,000,000.00 07/14/04 United Commercial Bank 01/28/04 1.030 40,000,000.00 07/28/04 United Commercial Bank 05/27/04 1.120 20,000,000.00 08/25/04 United Commercial Bank 03/03/04 1.060 50,000,000.00 09/01/04 United Commercial Bank 03/19/04 1.060 65,000,000.00 09/17/04 United Commercial Bank 04/08/04 1.090 40,000,000.00 10/07/04 SANJOSE Comerica Bank of California 04/08/04 1.000 25,000,000.00 07/01/04 Heritage Bank of Commerce 02/11/04 1.060 2,000,000.00 08/11/04 Heritage Bank of Commerce 02/11 /04 1.060 2,000,000.00 08/11 /04 Meriwest Credit Union 01/22/04 1.040 5,000,000.00 07/21/04 Meriwest Credit Union 03/17/04 1.080 5,000,000.00 09/15/04 Meriwest Credit Union 04/14/04 1.100 10,000,000.00 10/13/04 Santa Clara Co. Fed. C.U. 02/06/04 1.080 10,000,000.00 08/06/04 Santa Clara Co. Fed. C.U. 05/07/04 1.000 5,000,000.00 11/05/04 SAN LUIS OBISPO First Bank Of San Luis Obispo 12/05/03 1.090 4,500,000.00 06/04/04 First Bank Of San Luis Obispo 02/11 /04 1.060 6,000,000.00 08/11 /04 First Bank Of San Luis Obispo 03/17/04 1.060 7,000,000.00 09/15/04 First Bank Of San Luis Obispo 03/26/04 1.050 5,000,000.00 09/24/04 Mission Community Bank 12/11/03 1.080 1,000,000.00 06/10/04 Mission Community Bank 03/04/04 1.080 1,000,000.00 09/02/04 Mission Community Bank 04/07/04 0.990 2,500,000.00 10/06/04 Mission Community Bank 04/28/04 1.220 2,500,000.00 10/27/04 San Luis Trust Bank 04/21/04 1.110 1,700,000.00 10/20/04 SAN MARINO East West Federal Bank 01/09/04 1.070 42,000,000.00 07/09/04 East West Federal Bank 02/06/04 1.060 35,000,000.00 08/06/04 East West Federal Bank 05/20/04 1.110 38,000,000.00 08/18/04 27 NAME SAN MARINO (continued East West Federal Bank SANTA ROSA National Bank of the Redwoods National Bank of the Redwoods National Bank of the Redwoods North Coast Bank SONORA Central California Bank STOCKTON Pacific State Bank Pacific State Bank Union Safe Deposit Bank Union Safe Deposit Bank Union Safe Deposit Bank Union Safe Deposit Bank Union Safe Deposit Bank Union Safe Deposit Bank Washington Mutual Bank Washington Mutual Bank Washington Mutual Bank TORRANCE China Trust Bank (USA) China Trust Bank (USA) China Trust Bank (USA) China Trust Bank (USA) 1��7T�1 Service 1st Bank TUSTIN Sunwest Bank Sunwest Bank TIME J,E_POSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 03/12/04 1.050 35,000,000.00 09/10/04 01/22/04 1.010 10,000,000.00 07/21/04 02/11/04 1.050 5,000,000.00 08/11/04 04/29/04 1.210 5,000,000.00 10/28/04 12/16/03 1.040 1,250,000.00 06/17/04 03/26/04 1.040 5,000,000.00 09/24/04 01/08/04 1.090 1,000,000.00 07/08/04 04/07/04 0.990 1,000,000.00 10/06/04 03/05/04 1.020 15,000,000.00 06/03/04 03/11/04 1.010 10,000,000.00 06/10/04 04/16/04 1.010 10,000,000.00 07/16/04 04/23/04 1.050 15,000,000.00 07/23/04 05/06/04 1.070 15,000,000.00 08/05/04 05/14/04 1.100 15,000,000.00 08/13/04 12/17/03 1.040 45,000,000.00 06/16/04 01 /22/04 1.010 75, 000, 000.00 07/21 /04 02/20/04 1.040 60,000,000.00 08/20/04 03/12/04 1.020 35,000,000.00 06/11/04 04/16/04 1.010 40,000,000.00 07/16/04 04/23/04 1.050 30,000,000.00 07/23/04 05/14/04 1.100 20,000,000.00 08/13/04 03/17/04 1.030 4,000,000.00 06/17/04 03/10/04 0.970 1,000,000.00 06/09/04 04/16/04 0.980 6,000,000.00 07/16/04 28 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE TUSTIN (continued) Sunwest Bank 05/12/04 1.080 7,800,000.00 08/12/04 VACAVILLE Travis Credit Union 12/04/03 1.090 40,000,000.00 06/02/04 WHITTIER Quaker City Bank 12/05/03 1.080 25,000,000.00 06/04/04 Quaker City Bank 01/14/04 1.010 24,000,000.00 07/14/04 Quaker City Bank 03/31/04 1.050 16,000,000.00 09/29/04 TOTAL TIME DEPOSITS MAY 2004 5,632,295,000.00 29 BANK DEMAND DEPOSITS May 2004 ($ in thousands) DAILY BALANCES DAY OF BALANCES WARRANTS MONTH PER BANKS OUTSTANDING 1 $ 2,204,311 $ 4,045,762 2 2,204,311 4,045,762 3 2,609,987 3,307,147 4 875,632 2,749,904 5 1,220,689 2,279,088 6 1,232,520 2,355,740 7 1,468,775 2,294,189 8 1,468,775 2,294,189 9 1,468,775 2,294,189 10 1,197,639 2,261,514 11 2,662,718 2,153,836 12 1,314,494 2,064,860 13 1,364,834 2,106,329 14 1,371,044 2,561,838 15 1,371,044 2,561,838 16 1,371,044 2,565,331 17 1,686,143 2,544,829 18 1,730,024 2,590,089 19 1,369,418 2,814,240 20 1,441,143 2,732,752 21 1,656,160 2,634,631 22 1,656,150 2,634,631 23 1,656,150 2,634,631 24 1,533,119 2,412,835 25 1,430,001 2,492,955 26 1,081,998 2,416,137 27 1,406,317 2,912,302 28 1,786,340 2,959,216 29 1,786,340 2,969,216 30 1,786,340 2,969,216 31 1,786,340 2,959,216 AVERAGE DOLLAR DAYS $ 1,587,050 al The prescribed bank balance for May was $1,535,473. This consisted of $1,283,155 in compensating balances for services, balances for uncollected funds of $254,111 and a deduction of $1,793 for May delayed deposit credit 30 DESIGNATION BY POOLED MONEY INVESTMENT BOARD OF TREASURY POOLED MONEY INVESTMENTS AND DEPOSITS No. 1659 In accordance with sections 16480 through 16480.8 of the Government Code, the Pooled Money Investment Board, at its meeting on May 19, 2004, 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 $1,283,155,000 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 an&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: ( 1) 05/17/04 (2) 05/24/04 (3) 05/31 /04 (4) 06/07/04 (5) 06/14/04 To 05/21 /04 $ 05/28/04 $ 06/04/04 $ 06/11/04 $ Transactions 281,420,000 (550,400,000) (345,108,000) Time Deposits in Various Financial Institutions In Securities (sections 16503a (section 16430)* and 16602)* $ 8,205,035,000 $ 5,616,295,000 $ 7,654,635,000 $ 5,616,295,000 $ 7,309,527,000 $ 5,616,295,000 5,421,628,000 $ 12,731,155,000 $ Estimated Total $ 13,821,330,000 $ 13,270,930,000 $ 12,925,822,000 5,616,295,000 $ 18,347,450,000 06/18/04 $ (8,880,800,000) $ 3,850,355,000 $ 5,616,295,000 $ 9,466,650,000 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 $1,283,155,000. Dated: May 19, 2004 * Government Code POOLED MONEY INVESTMENT BOARD: Signatures on file at STO and SCO Chairperson Member Member Philip Angelides June2004 STATE OF CALIFORNIA STATE TREASURER'S OFFICE POOLED MONEY INVESTMENT BOARD REPORT June 2004 TABLE OF CONTENTS SUMMARY................................................................. 01 SELECTED INVESTMENT DATA .................................... 02 PORTFOLIO COMPOSITION ........................................ 03 INVESTMENT TRANSACTIONS .................................... 04 TIME DEPOSITS........................................................ 21 BANK DEMAND DEPOSITS .......................................... 33 POOLED MONEY INVESTMENT BOARp DESIGNATION... 34 POOLED MONEY INVESTMENT ACCOUNT SUMMARY OF INVESTMENT DATA A COMPARISON OF JUNE 2004 WITH JUNE 2003 (DOLLARS IN THOUSANDS) JUNE 2004 JUNE 2003 CHANGE Average Daily Portfolio $ 61,616,790 $ 59,031,809 $ +2,484,981 Accrued Earnings $ 74,059 $ 82,327 -8,268 Effective Yield 1.469 1.697 -0.228 Average Life -Month End (In Days) 196 212 -16 Total Security Transactions Amount $ 30,086,127 $ 49,976,064 $ -19,890,927 Number 642 1,058 -416 Total Time Deposit Transactions Amount $ 1,992,000 $ 2,061,500 $ -69,600 Number 117 95 +22 Average Workday Investment Activity $ 1,468,051 $ 2,477,979 $ -1,0.19,928 Prescribed Demand Account Balances For Services $ 1,294,416 $ 1,018,619 $ +275,896 For Uncollected Funds $ 203,313 $ 171,470 +31,843 1 PHILIP ANGELIDES TREASURER STATE OF CALIFORNIA INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) TYPE OF SECURITY Government Bills Bonds Notes Strips Total Government Federal Agency Coupons Certificates of Deposit Bank Notes Bankers' Acceptances Repurchases Federal Agency Discount Notes Time Deposits GNMAs Commercial Paper FHLMC/Remics Corporate Bonds Pooled Loans GF Loans Reversed Repurchases Total (All Types) INVESTMENT ACTIVITY Pooled Money Other Time Deposits Totals PMIA Monthly Average Effective Yield Year to Date Yield Last Day of Month June 30, 2004 DIFFERENCE IN PERCENT OF PERCENT OF PORTFOLIO FROM AMOUNT PORTFOLIO PRIOR MONTH $ 2,485,515 0 6,218,873 0 $ 7,704,388 $ 4,263,751 9,290,086 1,224,975 0 0 11,186,900 5,796,795 453 11,127,357 392,653 1,633,228 4,980,113 0 0 $ 57,600,699 JUNE 2004 NUMBER AMOUNT 642 $ 30,085,127 66 617,111 117 1,992,000 826 $ 32,694,238 1.469 1.532 2 4.31 -0.59 0.00 0.00 9.06 +1.18 0.00 0.00 13.37 +0.59 7.40 +0.23 16.13 -2.70 2.13 +0.09 0.00 0 0.00 0 19.42 -3.19 10.06 +1.39 0.00 0 19.32 +2.32 0.68 +0.67 2.84 -0.16 8.65 +0.76 0.00 0.00 0.00 0.00 100.00 MAY 2004 NUMBER AMOUNT 538 $ 25,590,200 36 604,724 83 1,740,400 657 $ 27,935,324 1.426 1.638 Commercial Paper 19.32% DE 11 Pooled Money Investment Account Portfolio Composition $57.6 Billion 06/30/04 Loans Corporate 8.65% Treasuries p V 1 '170/ CD's/BN's 18.26% 3 tgages .68% Agencies 26.82% ■ Treasuries 0 Mortgages Agencies N CD's/BN's 0 Time Deposits Bankers Acceptances Repo Commercial Paper Corporate Bonds El Loans N Reverses 06/01/04 REDEMPTIONS CID SAFEWAY 06/01/04 1.060 50,000 21 30,916.66 1.075 CID COUNTRY 06/01/04 1.060 30,000 50 44,166.67 1.076 CID B/A 06/01/04 1.050 50,000 140 204,166.67 1.072 CID B/A 06/01/04 1.080 50,000 146 219,000.00 1.103 CID B/A 06/01/04 1.080 50,000 146 219,000.00 1.103 CID B/A 06/01/04 1.110 50,000 166 255,916.67 1.134 CP B/A 06/01/04 1.110 50,000 166 255,916.67 1.134 DISC NOTE FHLMC 06/01/04 1.060 50,000 146 214,944.44 1.082 DISC NOTE FHLMC 06/01/04 1.055 50,000 146 213,930.56 1.077 DISC NOTE FNMA 06/01/04 1.055 50,000 147 215,395.83 1.077 DISC NOTE FNMA 06/01/04 1.055 50,000 147 215,395.83 1.077 06/01/04 PURCHASES CD RB CANADA 1.330% 10/01/04 1.325 50,000 CD RB CANADA 1.330% 10/01/04 1.325 50,000 CD RB CANADA 1.720% 02/28/05 1.715 50,000 CD RB CANADA 1.720% 02/28/05 1.715 50,000 CID B/A 09/01/04 1.240 50,000 CID B/A 09/01/04 1.240 50,000 CID B/A 09/01/04 1.240 50,000 CID B/A 09/01/04 1.240 50,000 CID B/A 09/01/04 1.240 50,000 CID NCAT 10/20/04 1.390 10,000 CID NCAT 10/20/04 1.390 50,000 DISC NOTE FHLMC 10/20/04 1.330 40,000 DISC NOTE FHLMC 10/20/04 1.330 50,000 DISC NOTE FHLMC 11/30/04 1.470 50,000 DISC NOTE FHLMC 11/30/04 1.470 50,000 DISC NOTE FNMA 02/28/05 1.640 50,000 DISC NOTE FNMA 02/28/05 1.640 50,000 DISC NOTE FNMA 02/28/05 1.640 50,000 DISC NOTE FNMA 02/28/05 1.640 50,000 06/02/04 REDEMPTIONS CID FCAR 06/02/04 1.110 50,000 169 260,541.67 1.134 CID FCAR 06/02/04 1.110 50,000 169 260,541.67 1.134 CID FCAR 06/02/04 1.110 50,000 169 260,541.67 1.134 MTN FR FMCC 5.720% 06/02/04 6.101 30,000 1652 5,373,152.83 3.979 06/02/04 PURCHASES BN WORLD 1.030% 07/06/04 1.050 50,000 BN WORLD 1.030% 07/06/04 1.050 50,000 CID CITI GLOBAL 07/15/04 1.100 50,000 CID CITI GLOBAL 07/15/04 1.100 50,000 06/03/04 NO REDEMPTIONS 4 06/03/04 PURCHASES CD W/F 1.080% 07/06/04 1.080 50,000 CD W/F 1.080% 07/06/04 1.080 50,000 CID GMAC 07/06/04 1.260 20,000 DISC NOTE FNMA 10/01/04 1.290 30,000 DISC NOTE FHLMC 02/28/05 1.720 50,000 DISC NOTE FHLMC 02/28/05 1.720 50,000 06/04/04 NO REDEMPTIONS 06/04/04 PURCHASES CID FCAR 07/06/04 1.090 50,000 CID FCAR 07/06/04 1.090 50,000 06/07/04 NO REDEMPTIONS 06/07/04 PURCHASES CID GECC 06/08/04 1.000 30,000 CID GECC 06/08/04 1.000 50,000 MTN GMAC 6.125% 09/15/06 4.070 20,000 06/08/04 REDEMPTIONS CID GECC 06/08/04 1.000 30,000 1 833.33 1.014 CID GECC 06/08/04 1.000 50,000 - 1 1,388.89 1.014 CID GECC 06/08/04 1.010 50,000 11 15,430.56 1.024 CID GECC 06/08/04 1.010 50,000 11 15,430.56 1.024 CID GECC 06/08/04 1.010 50,000 11 15,430.56 1.024 CID GECC 06/08/04 1.010 50,000 11 15,430.56 1.024 CID GECC 06/08/04 1.010 50,000 11 15,430.56 1.024 CID GECC 06/08/04 1.010 50,000 11 15,430.56 1.024 CID B/A 06/08/04 1.080 50,000 153 229,500.00 1.103 CP B/A 06/08/04 1.080 50,000 153 229,500.00 1.103 06/08/04 NO PURCHASES 06/09/04 REDEMPTIONS BN BANC ONE 1.130% 06/09/04 1.130 50,000 202 317,027.78 1.149 BN BANC ONE 1.130% 06/09/04 1.130 50,000 202 317,027.78 1.149 CID GECC 06/09/04 1.010 50,000 12 16,833.33 1.024 CID GECC 06/09/04 1.010 50,000 12 16,833.33 1.024 CID SAFEWAY 06/09/04 1.070 50,000 90 133,750.00 1.088 CID GECC 06/09/04 1.120 25,000 173 134,555.56 1.145 CID GECC 06/09/04 1.120 50,000 173 269,111.11 1.145 DISC NOTE FNMA 06/09/04 1.095 45,000 177 242,268.75 1.119 DISC NOTE FNMA 06/09/04 1.095 50,000 177 269,187.50 1.119 DISC NOTE FHLMC 06/09/04 1.180 50,000 209 342,527.78 1.208 DISC NOTE FHLMC 06/09/04 1.180 50,000 209 342,527.78 1.208 5 06/09/04 PURCHASES CD W/F 1.130% 07/15/04 1.130 40,000 CD W/F 1.130% 07/15/04 1.130 50,000 CD W/F 1.130% 07/15/04 1.130 50,000 CP PREFCO 07/09/04 1.100 12,858 CP PREFCO 07/09/04 1.100 50,000 TREAS NOTE 2.500% 05/31/06 2.700 50,000 06/10/04 REDEMPTIONS CP GECC 06/10/04 1.010 50,000 13 18,236.11 1.024 CP GECC 06/10/04 1.010 50,000 13 18,236.11 1.024 CP W/F 06/10/04 1.030 25,000 20 14,305.56 1.045 CP W/F 06/10/04 1.030 50,000 20 28,611.11 1.045 CP GECC 06/10/04 1.030 25,000 20 14,305.56 1.045 CP GECC 06/10/04 1.030 50,000 20 28,611.11 1.045 TREAS BILL 06/10/04 0.945 50,000 176 231,000.00 0.965 0.965 TREAS BILL 06/10/04 0.945 50,000 176 231,000.00 06/10/04 NO PURCHASES 06/11/04 REDEMPTIONS DISC NOTE FNMA 06/11/04 0.930 50,000 50,000 359 359 463,708.33 463,708.33 0.954 0.954 DISC NOTE FNMA 06/11/04 06/11/04 0.930 0.930 50,000 359 463,708.33 0.954 DISC NOTE FNMA DISC NOTE FNMA 06/11/04 0.930 50,000 359 463,708.33 0.954 06/11/04 NO PURCHASES 06/14/04 REDEMPTIONS DISC NOTE FNMA 06/14/04 1.160 50,000 50,000 234 234 377,000.00 377,000.00 1.188 1.188 DISC NOTE FNMA 06/14/04 1.160 06/14/04 PURCHASES CID HOUSEHOLD 07/06/04 1.100 50,000 CP HOUSEHOLD 07/06/04 1.100 50,000 CP BARTON 07/07/04 1.120 25,000 CP BARTON 07/07/04 1.120 50,000 CP PREFCO 07/12/04 1.170 25,000 CP PREFCO 07/12/04 1.170 50,000 TREAS NOTE 2.500% 05/31 /06 2.780 60,000 06/16/04 REDEMPTIONS MTN B/A 6.625% 06/15/04 0.974 33,700 356 338,157.66 0.961 MTN COUNTRY 6.850% 06/15/04 1.155 34,092 361 692 405,028.09 867,338.79 1.141 2.787 MTN B/A 6.625% 6.625% 06/15/04 06/15/04 2.850 2.945 15,400 18,500 700 1,088,393.41 2.880 MTN B/A 6 06/16/04 REDEMPTIONS (continued) MTN COUNTRY 6.850% 06/15/04 4.126 19,864 763 1,768,265.69 4.052 MTN B/A 6.625% 06/15/04 3.750 15,000 775 1,236,197.92 3.679 MTN B/A 6.625% 06/15/04 4.080 10,000 795 917,137.50 4.012 MTN B/A 6.625% 06/15/04 3.810 10,000 861 934,936.11 3.739 MTN B/A 6.625% 06/15/04 3.810 20,000 861 1,869,872.22 3.739 MTN B/A 6.625% 06/15/04 4.110 11,350 907 1,200,044.96 4.030 MTN US BANK 6.500% 06/15/04 4.025 25,000 974 2,785,323.30 3.942 MTN B/A 6.625% 06/15/04 5.120 25,000 1085 3,894,362.58 5.048 06/16/04 PURCHASES CD CS/FST BOSTON 1.110% 07/06/04 1.100 50,000 CD CS/FST BOSTON 1.110% 07/06/04 1.100 50,000 CD CS/FST BOSTON 1.110% 07/06/04 1.100 50,000 CD W/F 1.190% 07/21/04 1.190 50,000 CD W/F 1.190% 07/21/04 1.190 50,000 CD S-E BANK 1.220% 07/21/04 1.220 50,000 CD S-E BANK 1.220% 07/21/04 1.220 50,000 CID SARA LEE 07/01/04 1.100 44,000 CID BARTON 07/06/04 1.130 5,412 CID BARTON 07/06/04 1.130 50,000 CID BARTON 07/06/04 1.130 50,000 CID BARTON 07/07/04 1.130 50,000 CID COCA COLA 07/13/04 1.120 25,000 CID GECC 07/19/04 1.190 50,000 CID GECC 07/19/04 1.190 50,000 CID GECC 07/20/04 1.190 50,000 CID GECC 07/20/04 1.190 50,000 CID BARTON 07/21/04 1.200 50,000 CID BARTON 07/21/04 1.200 91,620 CID GECC 07/27/04 1.900 20,000 CID GECC 07/27/04 1.190 50,000, DISC NOTE FHLB 07/07/04 1.100 40,470 DISC NOTE FHLB 07/09/04 1.100 30,000 DISC NOTE FHLB 07/09/04 1.100 50,000 DISC NOTE FHLB 07/09/04 1.100 50,000 DISC NOTE FHLB 07/09/04 1.100 50,000 DISC NOTE FHLMC 07/13/04 1.140 20,000 DISC NOTE FHLMC 07/13/04 1.140 50,000 DISC NOTE FHLMC 07/13/04 1.140 50,000 MTN GMAC 6.125% 09/15/06 4.236 10,000 06/16/04 REDEMPTIONS BN BANC ONE 1.170% 06/16/04 1.170 50,000 224 364,000.00 1.190 BN BANC ONE 1.170% 06/16/04 1.170 50,000 224 364,000.00 1.190 CD DEXIA 1.030% 06/16/04 1.025 50,000 83 118,161.08 1.039 CD DEXIA 1.030% 06/16/04 1.025 50,000 83 118,161.08 1.039 CD FORTIS 1.030% 06/16/04 1.030 50,000 83 118,736.11 1.044 CD FORTIS 1.030% 06/16/04 1.030 50,000 83 118,736.11 1.044 7 06/16/04 REDEMPTIONS (continued) CD CS/FST BOSTON 1.035% 06/16/04 1.035 50,000 83 119,312.50 1.049 CD CS/FST BOSTON 1.035% 06/16/04 1.035 50,000 83 119,312.50 1.049 CD UBS 1.020% 06/16/04 1.020 50,000 83 117,583.33 1.034 CD UBS 1.020% 06/16/04 1.020 50,000 83 117,583.33 1.034 CD CS/FST BOSTON 1.035% 06/16/04 1.030 50,000 92 131,612.79 1.044 CD CS/FST BOSTON 1:035% 06/16/04 1.030 50,000 92 131,612.79 1.044 CD DEXIA 1.025% 06/16/04 1.025 50,000 93 132,395.83 1.039 CD DEXIA 1.025% 06/16/04 1.025 50,000 93 132,395.83 1.039 CD CS/FST BOSTON 1.040% 06/16/04 1.040 25,000 98 70,777.78 1.054 CD CS/FST BOSTON 1.040% 06/16/04 1.040 50,000 98 141,555.56 1.054 CD CS/FST BOSTON 1.040% 06/16/04 1.040 50,000 98 141,555.56 1.054 CD WASHINGTON 1.070% 06/16/04 1.070 50,000 98 145,638.89 1.085 CD WASHINGTON 1.070% 06/16/04 1.070 50,000 98 145,638.89 1.085 CD DEXIA 1.025% 06/16/04 1.020 50,000 98 138,835.22 1.034 CD DEXIA 1.025% 06/16104 1.020 50,000 98 138,835.22 1.034 CD US BANK 1.020% 06/16/04 1.020 50,000 98 138,833.33 1.034 CD US BANK 1.020% 06/16/04 1.020 50,000 98 138,833.33 1.034 CD US BANK 1.020% 06/16/04 1.020 50,000 98 138,833.33 1.034 CD US BANK 1.020% 06/16/04 1.020 50,000 98 138,833.33 1.034 CD S-E BANK 1.040% 06/16/04 1.040 50,000 99 143,000.00 1.054 CD S-E BANK 1.040% 06/16/04 1.040 50,000 99 143,000.00 1.054 CD CS/FST BOSTON 1.040% 06/16/04 1.040 50,000 99 143,000.00 1.054 CD TORONTO 1.045% 06/16/04 1.040 50,000 104 150,224.38 1.054 CD TORONTO 1.045% 06/16/04 1.040 50,000 104 150,224.38 1.054 CD TORONTO 1.045% 06/16/04 1.040 50,000 104 150,224.38 1.054 CD TORONTO 1.045% 06/16/04 1.040 50,000 104 150,224.38 1.054 CD WASHINGTON 1.090% 06/16/04 1.090 50,000 155 234,652.78 1.108 CD WASHINGTON 1.090% 06/16/04 1.090 50,000 155 234,652.78 1.108 CD BNPARIS 1.085% 06/16/04 1.080 50,000 161 241,505.38 1.098 CD BNPARIS 1.085% 06/16/04 1.080 50,000 161 241,505.38 1.098 CD RB SCOT 1.140% 06/16/04 1.140 50,000 191 302,416.67 1.159 CD RB SCOT 1.140% 06/16/04 1.140 50,000 191 302,416.67 1.159 CD NOVA SCOT 1.110% 06/16/04 1.110 50,000 191 294,458.33 1.128 CD NOVA SCOT 1.110% . 06/16/04 1.110 50,000 191 294,458.33 1.128 CD WASHINGTON 1.210% 06/16/04 1.210 50,000 197 331,069.44 1.230 CD WASHINGTON 1.210% 06/16/04 1.210 50,000 197 331,069.44 1.230 CD SVENSKA 1.150% 06/16/04 1.140 50,000 209 330,935.75 1.159 CD SVENSKA 1.150% 06/16/04 1.140 50,000 209 330,935.75 1.159 CD STNRD CH 1.180% 06/16/04 1.180 50,000 216 354,000.00 1.200 CD CR AGRIC 1.180% 06/16/04 1.180 50,000 223 365,472.22 1.200 CD NOVA SCOT 1.170% 06/16/04 1.170 50,000 223 362,375.00 1.190 CD NOVA SCOT 1.170% 06/16/04 1.170 50,000 223 362,375.00 1.190 CD NOVA SCOT 1.170% 06/16/04 1.170 50,000 223 362,375.00 1.190 CD CIBC 0.930% 06/16/04 0.930 50,000 363 468,875.00 0.945 CD CIBC 0.930% 06/16/04 0.930 50,000 363 468,875.00 0.945 CP GMAC 06/16/04 1.260 25,000 63 55,125.00 1.280 CP TEXT FIN 06/16/04 1.070 25,000 63 46,812.50 1.087 CP JP MORGAN 06/16/04 1.030 50,000 63 90,125.00 1.046 CP JP MORGAN 06/16/04 1.030 50,000 63 90,125.00 1.046 CP FCAR 06/16/04 1.050 36,737 72 77,147.70 1.067 8 06/16/04 REDEMPTIONS (continued) CID GMAC 06/16/04 1.230 50,000 82 140,083.33 1.251 CID GMAC 06/16/04 1.230 50,000 82 140,083.33 1.251 CID GMAC 06/16/04 1.230 50,000 82 140,083.33 1.251 CID GMAC 06/16/04 1.230 50,000 82 140,083.33 1.251 CID B/A 06/16/04 1.030 50,000 83 118,736.11 1.047 CID B/A 06/16/04 1.030 50,000 83 118,736.11 1.047 CID B/A 06/16/04 1.030 50,000 83 118,736.11 1.047 CID B/A 06/16/04 1.030 50,000 83 118,736.11 1.047 CID FCAR 06/16/04 1.030 50,000 83 118,736.11 1.047 CID FCAR 06/16/04 1.030 50,000 83 118,736.11 1.047 CID FCAR 06/16/04 1.030 50,000 83 118,736.11 1.047 CID GECC 06/16/04 1.030 50,000 83 118,736.11 1.047 CID GECC 06/16/04 1.030 50,000 83 118,736.11 1.047 CP GECC 06/16/04 1.030 50,000 83 118,736.11 1.047 CID GECC 06/16/04 1.030 50,000 83 118,736.11 1.047 CID B/A 06/16/04 1.030 50,000 84 120,166.67 1.047 CID B/A 06/16/04 1.030 50,000 84 120,166.67 1.047 CID CITI GLOBAL 06/16/04 1.030 50,000 85 121,597.22 1.047 CID CITI GLOBAL 06/16/04 1.030 50,000 85 121,597.22 1.047 CID FCAR 06/16/04 1.030 50,000 90 128,750.00 1.047 CID SRAC 06/16/04 1.060 50,000 99 145,750.00 1.078 CP GECC 06/16/04 1.040 20,000 104 60,089.89 1.058 CID CITI GLOBAL 06/16/04 1.040 50,000 104 150,222.22 1.058 CID CITI GLOBAL 06/16/04 1.040 50,000 104 150,222.22 1.058 CID CITI GLOBAL 06/16/04 1.040 50,000 104 150,222.22 1.058 CID CITI GLOBAL 06/16/04 1.040 50,000 104 150,222.22 1.058 CID GECC 06/16/04 1.040 50,000 104 150,222.22 1.058 CID GECC 06/16/04 1.040 50,000 124 179,111.11 1.061 CID GECC 06/16/04 1.040 50,000 124 179,111.11 1.061 CID FCAR 06/16/04 1.060 6,000 156 27,560.00 1.083 CID FCAR 06/16/04 1.060 50,000 156 229,666.67 1.083 CID B/A 06/16/04 1.080 50,000 161 241,500.00 1.103 CID B/A 06/16/04 1.080 50,000 161 241,500.00 1.103 CID FCAR 06/16/04 1.090 30,000 162 147,150.00 1.114 CID GECC 06/16/04 1.110 50,000 175 269,791.67 1.135 CID GECC 06/16/04 1.110 50,000 175 269,791.67 1.135 CID GECC 06/16/04 1.110 50,000 175 269,791.67 1.135 DISC NOTE FNMA 06/16/04 1.000 40,300 83 92,913.89 1.016 DISC NOTE FNMA 06/16/04 1.000 50,000 83 115,277.78 1.016 DISC NOTE FNMA 06/16/04 1.000 50,000 83 115,277.78 1.016 DISC NOTE FNMA 06/16/04 1.000 50,000 83 115,277.78 1.016 DISC NOTE FNMA 06/16/04 1.000 50,000 83 115,277.78 1.016 DISC NOTE FNMA 06/16/04 1.000 50,000 83 115,277.78 1.016 DISC NOTE FNMA 06/16/04 1.000 50,000 83 115,277.78 1.016 DISC NOTE FNMA 06/16/04 0.995 50,000 84 116,083.33 1.011 DISC NOTE FNMA 06/16/04 0.995 50,000 84 116,083.33 1.011 DISC NOTE FNMA 06/16/04 0.995 50,000 84 116,083.33 1.011 DISC NOTE FNMA 06/16/04 0.995 50,000 84 116,083.33 1.011 DISC NOTE FNMA 06/16/04 0.990 50,000 111 152,625.00 1.010 DISC NOTE FNMA 06/16/04 0.990 50,000 111 152,625.00 1.010 9 06/16/04 REDEMPTIONS (continued) DISC NOTE FNMA 06/16/04 0.990 50,000 111 152,625.00 1.010 DISC NOTE FNMA 06/16/04 0.990 50,000 111 152,625.00 1.010 DISC NOTE FNMA 06/16/04 0.990 50,000 111 152,625.00 1.010 DISC NOTE FNMA 06/16/04 0.990 50,000 111 152,625.00 1.010 DISC NOTE FNMA 06/16/04 0.990 50,000 111 152,625.00 1.010 DISC NOTE FNMA 06/16/04 0.990 50,000 111 152,625.00 1.010 DISC NOTE FHLMC 06/16/04 1.000 50,000 111 154,166.67 1.020 DISC NOTE FHLMC 06/16/04 1.030 50,000 138 197,416.65 1.051 DISC NOTE FHLMC 06/16/04 1.030 50,000 138 197,416.65 1.051 DISC NOTE FNMA 06/16/04 1.030 50,000 138 197,416.65 1.051 DISC NOTE FNMA 06/16/04 1.030 50,000 138 197,416.65 1.051 DISC NOTE FNMA 06/16/04 1.030 50,000 138 197,416.65 1.051 DISC NOTE FNMA 06/16/04 1.030 50,000 138 197,416.65 1.051 DISC NOTE FNMA 06/16/04 1.030 50,000 138 197,416.65 1.051 DISC NOTE FNMA 06/16/04 1.030 50,000 138 197,416.65 1.051 DISC NOTE FHLMC 06/16/04 1.010 10,000 142 39,838.89 1.031 DISC NOTE FHLMC 06/16/04 1.010 43,500 142 173,299.17 1.031 DISC NOTE FHLMC 06/16/04 1.010 50,000 142 199,194.44 1.031 DISC NOTE FHLMC 06/16/04 1.010 50,000 142 199,194.44 1.031 DISC NOTE FHLMC 06/16/04 1.010 50,000 142 199,194.44 1.031 DISC NOTE FNMA 06/16/04 1.100 12,000 176 64,533.33 1.124 DISC NOTE FNMA 06/16/04 1.100 50,000 176 268,888.89 1.124 DISC NOTE FNMA 06/16/04 1.100 50,000 176 268,888.89 1.124 DISC NOTE FNMA 06/16/04 1.095 50,000 180 273,750.00 1.119 DISC NOTE FNMA 06/16/04 1.100 50,000 181 276,527.78 1.125 DISC NOTE FNMA 06/16/04 1.100 50,000 181 276,527.78 1.125 DISC NOTE FNMA 06/16/04 1.100 50,000 181 276,527.78 1.125 DISC NOTE FNMA 06/16/04 1.100 50,000 181 276,527.78 1.125 DISC NOTE FNMA 06/16/04 1.100 50,000 181 276,527.78 1.125 DISC NOTE FNMA 06/16/04 1.090 50,000 181 274,013.89 1.114 DISC NOTE FNMA 06/16/04 1.090 50,000 181 274,013.89 1.114 DISC NOTE FHLMC 06/16/04 1.090 50,000 181 274,013.89 1.114 DISC NOTE FNMA 06/16/04 1.090 50,000 181 274,013.89 1.114 DISC NOTE FNMA 06/16/04 1.170 50,000 216 351,000.00 1.198 DISC NOTE FNMA 06/16/04 1.170 50,000 216 351,000.00 1.198 DISC NOTE FNMA 06/16/04 1.170 50,000 216 351,000.00 1.198 DISC NOTE FNMA 06/16/04 1.170 50,000 216 351,000.00 1.198 DISC NOTE FHLMC 06/16/04 1.165 45,000 226 329,112.50 1.193 DISC NOTE FHLMC 06/16/04 1.165 50,000 226 365,680.56 1.193 DISC NOTE FHLMC 06/16/04 1.165 50,000 226 365,680.56 1.193 DISC NOTE FHLMC 06/16/04 1.165 50,000 226 365,680.56 1.193 DISC NOTE FHLMC 06/16/04 1.165 50,000 226 365,680.56 1.193 DISC NOTE FHLMC 06/16/04 1.150 10,499 231 77,473.87 1.178 DISC NOTE FHLMC 06/16/04 1.150 50,000 231 368,958.33 1.178 DISC NOTE FHLMC 06/16/04 1.150 50,000 231 368,958.33 1.178 DISC NOTE FHLMC 06/16/04 1.150 50,000 231 368,958.33 1.178 DISC NOTE FNMA 06/16/04 1.170 50,000 232 377,000.00 1.199 DISC NOTE FNMA 06/16/04 1.170 50,000 232 377,000.00 1.199 DISC NOTE FNMA 06/16/04 1.170 50,000 232 377,000.00 1.199 DISC NOTE FNMA 06/16/04 1.170 50,000 232 377,000.00 1.199 10 06/16/04 REDEMPTIONS (continued) DISC NOTE FNMA 06/16/04 1.150 50,000 237 378,541.67 1.178 DISC NOTE FNMA 06/16/04 1.150 50,000 237 378,541.67 1.178 DISC NOTE FNMA 06/16/04 1.150 50,000 237 378,541.67 1.178 DISC NOTE FNMA 06/16/04 1.150 50,000 237 378,541.67 1.178 DISC NOTE FNMA 06/16/04 1.150 50,000 237 378,541.67 1.178 DISC NOTE FNMA 06/16/04 1.180 45,000 238 351,050.00 1.209 DISC NOTE FHLMC 06/16/04 1.040 50,000 355 512,777.78 1.068 DISC NOTE FHLMC 06/16/04 1.040 50,000 355 512,777.78 1.068 DISC NOTE FHLMC 06/16/04 1.040 50,000 355 512,777.78 1.068 DISC NOTE FHLMC 06/16/04 1.040 50,000 355 512,777.78 1.068 DISC NOTE FNMA 06/16/04 1.040 50,000 355 512,777.78 1.068 DISC NOTE FNMA 06/16/04 1.040 50,000 355 512,777.78 1.068 DISC NOTE FNMA 06/16/04 1.040 50,000 355 512,777.78 1.068 DISC NOTE FNMA 06/16/04 1.040 50,000 355 512,777.78 1.068 DISC NOTE FNMA 06/16/04 1.040 50,000 355 512,777.78 1.068 DISC NOTE FNMA 06/16/04 1.040 50,000 355 512,777.78 1.068 DISC NOTE FHLMC 06/16/04 0.910 50,000 357 451,208.33 0.934 DISC NOTE FHLMC 06/16/04 0.910 50,000 357 451,208.33 0.934 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FHLMC 06/16/04 0.905 50,000 358 449,986.11 0.928 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 DISC NOTE FNMA 06/16/04 0.900 50,000 358 447,500.00 0.923 06/16104 PURCHASES CD US BANK 1.950% 02/28/05 1.950 50,000 CD US BANK 1.950% 02/28/05 1.950 50,000 CID SRAC 07/06/04 1.260 50,000 CID GMAC 07/06/04 1.210 50,000 CID GMAC 07/06/04 1.210 50,000 CP GMAC 07/06/04 1.210 50,000 CID CITI GLOBAL 07/06/04 1.100 50,000 CID CITI GLOBAL 07/06/04 1.100 50,000 CID CITI GLOBAL 07/06/04 1.100 50,000 CID CITI GLOBAL 07/06/04 1.100 50,000 CID JP MORGAN 08/27/04 1.280 50,000 CID JP MORGAN 08/27/04 1.280 50,000 CID JP MORGAN 08/27/04 1.280 50,000 CID JP MORGAN 08/27/04 1.280 50,000 CID TOYOTA 11/02/04 1.590 50,000 11 06/16/04 PURCHAbbb (coniinuuul CID TOYOTA 11/02/04 1.590 50,000 DISC NOTE FHLMC 07/28/04 1.140 50,000 DISC NOTE FHLMC 07/28/04 02/28/05 1.140 1.890 50,000 50,000 DISC NOTE FNMA 02/28/05 1.890 50,000 DISC NOTE DISC NOTE FNMA FHLMC 02/28/05 1.860 50,000 DISC NOTE FHLMC 02/28/05 1.860 1.860 50,000 50,000 DISC NOTE FHLMC 02/28/05 02/28/05 1.860 50,000 DISC NOTE FHLMC 06/17/04 REDEMPTIONS MTN GMAC 6.850% 3.245 182 1 ,950.00 238,875.00 3.223 0.965 TREAS BILL 06/17/04 06/17/04 06/17/04 0.9 0.945 50,000 50,000 182 238,875.00 0.965 TREAS BILL 06/17/04 0.945 50,000 182 238,875.00 0.965 TREAS BILL 06/17/04 0.945 50,000 182 238,875.00 0.965 TREAS BILL 06/17/04 0.945 50,000 182 238,875.00 0.965 TREAS BILL 06/17/04 0.945 50,000 182 238,875.00 0.965 TREAS BILL 06/17/04 0.945 50,000 182 238,875.00 0.965 TREAS BILL 06/17/04 0.945 50,000 182 238,875.00 0.965 TREAS BILL 06/17/04 0.945 50,000 182 238,875.00 0.965 TREAS BILL 06/17/04 0.945 50,000 � 82 238,875-00 0.965 TREAS BILL 06/17/04 0.945 50,000 238,875.00 0.965 TREAS BILL 06/17/04 0.945 50,000 182 238,875.00 0.965 TREAS BILL 06/17/04 PURCHASES CD WASHINGTON 2.020% 02/28/05 2.020 50,000 CD WASHINGTON 2.020% 02/28/05 2.020 50,000 CD US BANK 1.990% 02/28/05 1.990 50,000 CD US BANK 1.990% 02/281 1.990 50,000 CID BARTON 07/06/� 1.60 34,929 CI' BARTON 07/06/04 1.160 50,000 CI' TOYOTA 07/21/04 1.200 50,000 CI' TOYOTA 07/21 /04 1.200 50,000 CID BEAR 07/27/04 1.180 50,000 CI' BEAR 07/27/04 1.180 50,000 DISC NOTE FNMA .11/17/04 1.640 15,000 50,000 DISC NOTE FNMA 11/17/04 11/17/04 1.640 1.640 50,000 DISC NOTE FNMA 11/17/04 1.610 50,000 DISC NOTE DISC NOTE FNMA FNMA 11/17/04 1.610 50,000 DISC NOTE FHLMC 02/28/05 02/28/05 1.900 1.900 50,000 50,000 DISC NOTE FHLMC 06/18/04 NO REDEMPTIONS 12 06/18/04 PURCHASES CD CIBC 1.960% 02/28/05 1.960 50,000 CD CIBC 1.960% 02/28/05 1.960 50,000 CID TOYOTA 11/01/04 1.530 50,000 CID TOYOTA 11/01/04 1.530 50,000 CID TOYOTA 11/02/04 1.530 50,000 DISC NOTE FHLMC 11/01/04 1.550 50,000 DISC NOTE FHLMC 11/01/04 1.550 50,000 DISC NOTE FHLMC 11/01/04 1.550 50,000 DISC NOTE FHLMC 11/01/04 1.550 50,000 DISC NOTE FHLMC 11/30/04 1.625 50,000 DISC NOTE FHLMC 11/30/04 1.625 50,000 06/21/04 NO REDEMPTIONS - 06/21/04 PURCHASES CD CS/FST BOSTON 1.765% 12/29/04 1.750 50,000 CD CS/FST BOSTON 1.765% 12/29/04 1.750 50,000 CD BNPARIS 1.770% 12/29/04 1.765 50,000 CD TORONTO 1.955% 02/28/05 1.950 50,000 CD TORONTO 1.955% 02/28/05 1.950 50,000 CD FORTIS 1.970% 02/28/05 1.970 50,000 CD FORTIS 1.970% 02/28/05 1.970 50,000 CD CALYON 1.965% 02/28/05 1.965 50,000 CD WASHINGTON 1.990% 02/28/05 1.990 50,000 DISC NOTE FNMA 02/28/05 1.880 50,000 DISC NOTE FNMA 02/28/05 1.880 50,000 DISC NOTE FHLMC 02/28/05 1.880 50,000 06/22/04 REDEMPTIONS CD RB SCOT 1.050% 06/22/04 1.050 50,000 152 221,666.67 1.067 CD RB SCOT 1.050% 06/22/04 1.050 50,000 152 221,666.67 1.067 CD BNPARIS 1.170% 06/22/04 1.165 50,000 222 359,219.33 1.184 CD BNPARIS 1.170% 06/22/04 1.165 50,000 222 359,219.33 1.184 CD BNPARIS 1.170% 06/22/04 1.165 50,000 222 359,219.33 1.184 CD BNPARIS 1.170% 06/22/04 1.165 50,000 222 359,219.33 1.189 CD UBS 1.180% 06/22/04 1.175 50,000 230 375,359.13 1.195 CD UBS 1.180% 06/22/04 1.175 50,000 230 375,359.13 1.195 CD STNRD CH 1.170% 06/22/04 1.170 50,000 230 373,750.00 1.190 CD WASHINGTON 1.230% 06/22/04 1.230 50,000 232 396,333.33 1.250 CD WASHINGTON 1.230% 06/22/04 1.230 50,000 232 396,333.33 1.250 CD FORTIS 1.170% 06/22/04 1.170 50,000 237 385,125.00 1.190 CD FORTIS 1.170% 06/22/04 1.170 50,000 237 385,125.00 1.190 CD SVENSKA 1.190% 06/22/04 1.190 50,000 238 393,361.11 1.210 CD SVENSKA 1.190% 06/22/04 1.190 50,000 238 393,361.11 1.210 DISC NOTE FNMA 06/22/04 1.180 50,000 222 363,833.33 1.208 DISC NOTE FNMA 06/22/04 1.180 50,000 222 363,833.33 1.208 DISC NOTE FNMA 06/22/04 1.180 50,000 222 363,833.33 1.208 DISC NOTE FNMA 06/22/04 1.180 50,000 222 363,833.33 1.208 13 06/22/04 REDEMPTIONS (continued) DISC NOTE FNMA 06/22/04 1.200 50,000 225 375,000.00 1.229 DISC NOTE FNMA 06/22/04 1.170 50,000 229 372,125.00 1.198 DISC NOTE FNMA 06/22/04 1.170 50,000 229 372,125.00 1.198 DISC NOTE FNMA 06/22/04 1.160 50,000 230 370,555.56 1.188 DISC NOTE FNMA 06/22/04 1.160 50,000 230 370,555.56 1.188 DISC NOTE FNMA 06/22/04 1.150 50,000 235 375,347.22 1.178 DISC NOTE FNMA 06/22/04 1.150 50,000 235 375, 347.22 1.178 DISC NOTE FNMA 06/22/04 1.150 50,000 235 375,347.22 1.178 DISC NOTE FNMA 06/22/04 1.150 50,000 235 375,347.22 1.178 DISC NOTE FHLMC 06/22/04 1.185 15,000 238 117,512.50 1.214 DISC NOTE FHLMC 06/22/04 1.185 50,000 238 391,708.33 1.214 06/22/04 PURCHASES CID LEHMAN 06/23/04 0.990 50,000 CID LEHMAN 06/23/04 0.990 50,000 MTN GMAC 6.125% 09/15/06 4.230 49,212 06/23/04 REDEMPTIONS CD BNPARIS 1.050% 06/23/04 1.050 45,000 155 203,437.50 1.068 CID LEHMAN 06/23/04 0.990 50,000 1 1,375.00 1.004 CID LEHMAN 06/23/04 0.990 50,000 1 1,375.00 1.004 DISC NOTE FNMA 06/23/04 1.000 50,000 90 125,000.00 1.016 DISC NOTE FNMA 06/23/04 1.000 50,000 90 125,000.00 1.016 DISC NOTE FNMA 06/23/04 1.000 50,000 90 125,000.00 1.016 DISC NOTE FNMA 06/23/04 1.000 50,000 90 125,000.00 1.016 DISC NOTE FNMA 06/23/04 1.180 50,000 223 365,472.22 1.208 DISC NOTE FNMA 06/23/04 1.180 50,000 223 365,472.22 1.208 DISC NOTE FNMA 06/23/04 1.180 50,000 223 365,472.22 1.208 DISC NOTE FNMA 06/23/04 1.180 50,000 223 365,472.22 1.208 DISC NOTE FNMA 06/23/04 1.180 50,000 223 365,472.22 1.208 DISC NOTE FNMA 06/23/04 1.180 50,000 223 365,472.22 1.208 DISC NOTE FNMA 06/23/04 1.180 50,000 239 391,694.44 1.209 DISC NOTE FNMA 06/23/04 1.180 50,000 239 391,694.44 1.209 DISC NOTE FNMA 06/23/04 1.160 50,000 240 386,666.67 1.189 DISC NOTE FNMA 06/23/04 1.160 50,000 240 386,666.67 1.189 DISC NOTE FNMA 06/23/04 1.160 50,000 240 386,666.67 1.189 DISC NOTE FNMA 06/23/04 1.160 50,000 240 386,666.67 1.189 DISC NOTE FNMA 06/23/04 1.160 50,000 240 386,666.67 1.189 DISC NOTE FNMA 06/23/04 1.160 50,000 240 386,666.67 1.189 06/23/04 PURCHASES DISC NOTE FHLMC DISC NOTE FHLMC 06/24/04 NO REDEMPTIONS 02/28/05 1.890 50,000 02/28/05 1.890 50,000 14 06/24/04 PURCHASES SBA 1.300% 04/25/29 1.300 15,026 CD BNPARIS 1.920% 02/28/05 1.920 50,000 CD BNPARIS 1.920% 02/28/05 1.920 50,000 CD BNPARIS 1.920% 02/28/05 1.920 50,000 CD BNPARIS 1.920% 02/28/05 1.920 50,000 CD UBS 1.915% 02/28/05 1.910 50,000 CD UBS 1.915% 02/28/05 1.910 50,000 CD RB SCOT 1.920% 02/28/05 1.920 50,000 CD RB SCOT 1.920% 02/28/05 1.920 50,000 CD RABO 1.903% 02/28/05 1.940 50,000 CD RABO 1.903% 02/28/05 1.940 50,000 CP NCAT 06/25/04 1.000 40,000 CP NCAT 06/25/04 1.000 50,000 CP NCAT 06/25/04 1.000 50,000 CP NCAT 06/25/04 1.000 50,000 DISC NOTE FHLMC 08/31/04 1.270 50,000 DISC NOTE FHLMC 11/01/04 1.550 50,000 DISC NOTE FHLMC 11/01/04 1.550 50,000 DISC NOTE FNMA 11/10/04 1.565 50,000 DISC NOTE FNMA 11/10/04 1.565 50,000 DISC NOTE FNMA 11/22/04 1.600 50,000 DISC NOTE FNMA 11/24/04 1.600 50,000 DISC NOTE FNMA 11/24/04 1.600 50,000 DISC NOTE FNMA 11/24/04 1.600 50,000 DISC NOTE FNMA 11/24/04 1.600 50,000 DISC NOTE FNMA 02/28/05 1.860 50,000 DISC NOTE FNMA 02/28/05 1.860 50,000 06/24/04 PURCHASES c/ DISC NOTE FHLB 06/30/04 1.020 45,000 DISC NOTE FHLB 06/30/04 1.020 50,000 DISC NOTE FNMA 09/01/04 1.020 10,050 DISC NOTE FNMA 12/17/04 1.020 50,000 DISC NOTE FNMA 12/17/04 1.020 50,000 06/26/04 REDEMPTIONS CD US BANK 1.030% 06/25/04 1.030 10,000 92 26,322.22 1.044 CD W/F 1.010% 06/25/04 1.010 50,000 92 129,055.56 1.024 CD W/F 1.010% 06/25/04 ' 1.010 50,000 92 129,055.56 1.024 CD W/F 1.010% 06/25/04 1.010 50,000 92 129,055.56 1.024 CD W/F 1.010% 06/25/04 1.010 50,000 92 129,055.56 1.024 CD US BANK 1.030% 06/25/04 1.030 50,000 92 131,611.11 1.044 CD US BANK 1.030% 06/25/04 1.030 50,000 92 131,611.11 1.044 CD SOC GEN 1.075% 06/25/04 1.070 50,000 148 219,948.94 1.088 CD SOC GEN 1.075% 06/25/04 1.070 50,000 148 219,948.94 1.088 CD RB SCOT 1.050% 06/25/04 1.050 50,000 154 224,583.33 1.067 CD BNPARIS 1.050% 06/25/04 1.050 50,000 162 236,250.00 1.067 CD BNPARIS 1.050% 06/25/04 1.050 50,000 162 236,250.00 1.067 15 06/25/04 REDEMPTIONS (continued) CD WASHINGTON CD WASHINGTON CID NCAT CID NCAT CID NCAT CID NCAT CID FCAR 06/25/04 SALES c/ DISC NOTE FNMA DISC NOTE FHLB DISC NOTE FHLB DISC NOTE FNMA DISC NOTE FNMA 06/25/04 NO PURCHASES 06/28/04 REDEMPTIONS DISC NOTE FNMA MTN JP MORGAN MTN FR JP MORGAN 06/28/04 PURCHASES CID MORG STAN CID MORG STAN CID NCAT DISC NOTE FHLB DISC NOTE FHLB DISC NOTE FHLB DISC NOTE FNMA DISC NOTE FNMA DISC NOTE FNMA DISC NOTE FNMA - DISC NOTE FNMA DISC NOTE FNMA DISC NOTE FNMA 06/29/04 NO REDEMPTIONS 06/29/04 PURCHASES CID COUNTRY CID COUNTRY CP CITICORP CID CITICORP CID CITI GLOBAL CID CITI GLOBAL t 1.080% 06/25/04 1.080 50,000 162 243,000.00 1.098 1.080% 06/25/04 1.080 50,000 162 243,000.00 1.098 06/25/04 1.000 40,000 1 1,111.11 1.014 06/25/04 1.000 50,000 1 1,388.89 1.014 06/25/04 1.000 50,000 1 1,388.89 1.014 06/25/04 1.000 50,000 1 1,388.89 1.014 06/25/04 1.070 43,000 148 189,152.22 1.093 09/01 /04 1.020 10,050 1 278.23 1.034 06/30/04 1.020 45,000 1 1,248.62 1.034 06/30/04 1.020 50,000 1 1,387.34 1.034 12/17/04 1.020 50,000 1 1,376.24 1.034 12/17/04 1.020 50,000 1 1,376.24 1.034 06/28/04 1.130 3.430% 06/28/04 3.430 3.850% 06/28/04 3.850 08/02/04 1.300 08/02/04 1.300 11 /01 /04 1.590 08/27/04 1.325 08/27/04 1.325 08/27/04 1.325 11 /10/04 1.580 11 /10/04 1.580 11 /10/04 1.580 11 /24/04 1.610 11 /24/04 1.610 11 /24/04 1.610 11 /24/04 1.610 07/06/04 1.300 07/06/04 1.300 07/06/04 1.270 07/06/04 1.270 07/07/04 1.300 07/07/04 1.300 16 50,000 203 318,597.22 50,000 731 3,430,000.00 50,000 1098 2,877,320.93 50,000 50,000 45,000 15,000 50,000 50,000 40,000 50,000 50,000 50,000 50,000 50,000 50,000 25,000 50,000 50,000 50,000 50,000 50,000 1.156 3.425 1.918 06/29/04 PURCHASES (continued) CID CITI GLOBAL 07/07/04 1.300 50,000 CP CITI GLOBAL .07/07/04 1.300 50,000 CID GECC 07/20/04 1.240 50,000 CID GECC 07/20/04 1.240 50,000 CID GECC 07/21/04 1.240 50,000 CID GECC 07/21/04 1.240 50,000 CID PREFCO 07/27/04 1.300 12,244 CID PREFCO 07/27/04 1.300 50,000 DISC NOTE FHLMC 07/13/04 1.240 50,000 DISC NOTE FHLMC 07/13/04 1.240 50,000 DISC NOTE FHLMC 10/01/04 1.500 38,162 DISC NOTE FHLMC 10/01/04 1.500 50,000 DISC NOTE FHLMC 11/01/04 1.590 50,000 DISC NOTE FHLMC 11/01/04 1.590 50,000 DISC NOTE FHLMC 02/28/05 1.940 25,000 DISC NOTE FHLMC 02/28/05 1.940 50,000 DISC NOTE FHLMC 02/28/05 1.940 50,000 DISC NOTE FHLMC 02/28/05 1.940 50,000 06/30/04 REDEMPTIONS CD MONTREAL 1.035% 06/30/04 1.035 50,000 76 109,250.00 1.049 CD MONTREAL 1.035% 06/30/04 1.035 50,000 76 109,250.00 1.049 CD MONTREAL 1.035% 06/30/04 1.035 50,000 76 109,250.00 1.049 CD MONTREAL 1.035% 06/30/04 1.035 50,000 76 109250.00 1.049 CD WASHINGTON 1.060% 06/30/04 1.070 50,000 99 147:120.97 1.085 CD WASHINGTON 1.060% 06/30/04 1.070 50,000 99 147,120.97 1.085 CD WASHINGTON 1.050% 06/30/04 1.050 50,000 125 182,291.67 1.067 CD WASHINGTON 1.050% 06/30/04 1.050 50,000 125 182,291.67 1.067 CD WASHINGTON 1.050% 06/30/04 1.050 50,000 125 182,291.67 1.067 CD WASHINGTON 1.050% 06/30/04 1.050 50,000 125 182,291.67 1.067 CD FORTIS 1.030% 06/30/04 1.030 50,000 125 178,819.44 1.047 CD FORTIS 1.030% 06/30/04 1.030 50,000 125 178,819.44 1.047 CD TORONTO 1.050% 06/30/04 1.045 50,000 127 184,329.62 1.062 CD TORONTO 1.050% 06/30/04 1.045 50,000 127 184,329.62 1.062 CD FORTIS 1.040% 06/30/04 1.035 50,000 128 184,003.26 1.052 CD FORTIS 1.040% 06/30/04 1.035 50,000 128 184,003.26 1.052 CD DEXIA 1.035% 06/30/04 1.030 50,000 128 183,114.35 1.047 CD DEXIA 1.035% 06/30/04 1.030 50,000 128 183,114.35 1.047 CD TORONTO 1.050% 06/30/04 1.045 50,000 156 226,421.55 1.062 CD TORONTO 1.050% 06/30/04 1.045 50,000 156 226,421.55 1.062 CD SOC GEN 1.050% 06/30/04 1.050 50,000 160 233,333.33 1.067 CD SOC GEN 1.050% 06/30/04 1.050 50,000 160 233,333.33 1.067 CD BK SCOT 1.060% 06/30/04 1.060 25,000 170 125,138.89 1.078 CD UBS 1.090% 06/30/04 1.080 30,000 174 156,607.53 1.098 CD BK SCOT 1.105% 06/30/04 1.105 50,000 175 267,367.58 1.118 CD BK SCOT 1.105% 06/30/04 .1.105 50,000 175 267,367.58 1.118 CD BNPARIS 1.115% 06/30/04 1.110 50,000 194 299,091.35 1.128 CD BNPARIS 1.115% 06/30/04 1.110 50,000 194 299,091.35 1.128 CD UBS 1.200% 06/30/04 1.190 50,000 210 347,103.44 1.210 17 06/30/04 REDEMPTIONS (continued) CP W/F 06/30/04 1.020 50,000 49 69,416.67 1.036 CP W/F 06/30/04 1.020 50,000 49 69,416.67 1.036 CP W/F 06/30/04 1.020 50,000 75 106,250.00 1.036 CP W/F 06/30/04 1.020 50,000 75. 106,250.00 1.036 CP W/F 06/30/04 1.020 50,000 75 106,250.00 1.036 DISC NOTE FNMA 06/30/04 1.005 50,000 76 106,083.33 1.021 DISC NOTE FNMA 06/30/04 1.005 50,000 76 106,083.33 1.021 DISC NOTE FNMA 06/30/04 1.030 50,000 152 217,444.44 1.052 DISC NOTE FNMA 06/30/04 1.030 50,000 152 217,444.44 1.052 DISC NOTE FNMA 06/30/04 1.080 50,000 196 294,000.00 1.104 DISC NOTE FNMA 06/30/04 1.080 50,000 196 294,000.00 1.104 DISC NOTE FNMA 06/30/04 1.110 50,000 202 311,416.67 1.136 DISC NOTE FNMA 06/30/04 1.110 50,000 202 311,416.67 1.136 DISC NOTE FNMA 06/30/04 1.130 50,000 205 321,736.11 1.156 DISC NOTE FNMA 06/30/04 1.130 50,000 205 321,736.11 1.156 DISC NOTE FNMA 06/30/04 1.130 50,000 205 321,736.11 1.156 DISC NOTE FNMA 06/30/04 1.130 50,000 205 321,736.11 1.156 DISC NOTE FNMA 06/30/04 1.130 50,000 205 321,736.11 1.156 DISC NOTE FNMA 06/30/04 1.130 50,000 205 321,736.11 1.156 DISC NOTE FNMA 06/30/04 1.190 50,000 210 347,083.33 1.218 DISC NOTE FNMA 06/30/04 1.190 50,000 210 347,083.33 1.218 DISC NOTE FNMA 06/30/04 1.190 50,000 210 347,083.33 1.218 DISC NOTE FNMA 06/30/04 1.190 50,000 210 347,083.33 1.218 DISC NOTE FHLMC 06/30/04 1.160 50,000 238 383,444.44 1.188 DISC NOTE FNMA 06/30/04 1.180 50,000 246 403,166.67 1.209 DISC NOTE FNMA 06/30/04 1.180 50,000 246 403,166.67 1.209 06/30/04 PURCHASES CD CALYON 2.000% 02/28/05 2.000 50,000 CD CALYON 2.000% 02/28/05 2.000 50,000 CD WASHINGTON 2.020% 02/28/05 2.020 50,000 CD WASHINGTON 2.020% 02/28/05 2.020 50,000 CP SARA LEE 07/01/04 1.470 45,120 CP SAFEWAY 07/01/04 1.550 50,000 CP MERRILL 07/01/04 1.430 50,000 CP MERRILL 07/01/04 1.430 50,000 CP MERRILL 07/01/04 1.430 50,000 CP MERRILL 07/01/04 1.430 50,000 CP GOLDMAN 07/02/04 1.300 5,000 CP GOLDMAN 07/02/04 1.300 50,000 DISC NOTE FHLMC 11/02/04 1.610 25,000 DISC NOTE FHLMC 11/02/04 1.610 50,000 DISC NOTE FNMA 11/22/04 1.630 50,000 DISC NOTE FNMA 11/22/04 1.630 50,000 DISC NOTE FNMA 11/24/04 1.630 25,000 DISC NOTE FNMA 11/24/04 1.630 50,000 DISC NOTE FNMA 11/24/04 1.630 50,000 DISC NOTE FNMA 12/01/04 1.670 25,000 DISC NOTE FNMA 12/01/04 1.670 25,000 18 06/30/04 PURCHASES (continued) DISC NOTE FNMA 12/01/04 1.680 50,000 DISC NOTE FNMA 12/01/04 1.680 50,000 DISC NOTE FNMA 12/01/04 1.670 50,000 DISC NOTE FNMA 12/01/04 1.670 50,000 DISC NOTE FHLMC 02/28/05 1.940 50,000 DISC NOTE FHLMC 02/28/05 1.940 50,000 DISC NOTE FHLMC 02/28/05 1.940 50,000 DISC NOTE FHLMC 02/28/05 1.940 50,000 DISC NOTE FHLMC 02/28/05 1.940 50,000 DISC NOTE FHLMC 02/28/05 1.940 50,000 19 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. cl/ Outright purchase against Reverse Repurchase Agreement. h/ Security "SWAP" transactions. V Buy back agreement. RRS Reverse Repurchase Agreement. RRP Termination of Reverse Repurchase Agreement. 20 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE ALHAMBRA Bank of East Asia (USA) 01/14/04 1.020 3,095,000.00 07/14/04 Bank of East Asia (USA) 02/11/04 1.060 3,000,000.00 08/11/04 Bank of East Asia (USA) 05/19/04 1.050 6,000,000.00 08/18/04 Omni Bank 05/14/04 1.090 2,000,000.00 08/13/04 Omni Bank 05/20/04 1.110 4,000,000.00 08/20/04 Omni Bank 05/27/04 1.110 2,000,000.00 08/25/04 Omni Bank 06/02/04 1.110 6,000,000.00 09/03/04 Omni Bank 03/17/04 1.050 2,000,000.00 09/15/04 Omni Bank 04/02/04. 1.050 2,000,000.00 10/01/04 Omni Bank 05/27/04 1.450 2,000,000.00 11/23/04 ARROYO GRANDE Mid -State Bank 01/15/04 1.010 5,000,000.00 07/15/04 Mid -State Bank 02/11/04 1.050 5,000,000.00 08/11/04 Mid -State Bank 03/12/04 1.040 5,000,000.00 09/09/04 Mid -State Bank 04/14/04 1.090 5,000,000.00 10/13/04 Mid -State Bank 05/19/04 1.380 5,000,000.00 11/17/04 Mid -State Bank 06/11/04 1.670 5,000,000.00 12/10/04 BREA Jackson Federal Bank 05/19/04 1.040 10,000,000.00 08/18/04 Pacific Western National Bank 02/04/04 1.030 4,000,000.00 08/04/04 CALABASAS First Bank of Beverly Hills FSB 03/04/04 1.070 10,000,000.00 09/02/04 First Bank of Beverly Hills FSB 05/06/04 1.230 10,000,000.00 11/04/04 First Bank of Beverly Hills FSB 06/16/04 1.770 10,000,000.00 12/15/04 CAMARILLO First California Bank 01/28/04 1.030 2,000,000.00 07/28/04 First California Bank 01/28/04 1.030 4,000,000.00 07/28/04 First California Bank 03/24/04 1.060 6,000,000.00 09/22/04 First California Bank 06/09/04 1.570 2,000,000.00 12/03/04 First California Bank 06/04/04 1.500 2,000,000.00 12/03/04 21 MYTA4 CAMERON PARK Western Sierra National Bank Western Sierra National Bank CHATSWORTH Premier America Credit Union Premier America Credit Union CHICO Tri Counties Bank CHULA VISTA North Island Federal Credit Union CITY OF INDUSTRY EverTrust Bank EverTrust Bank CONCORD Bank of the West Bank of the West Bank of the West Bank of the West DUBLIN Operating Engineers FCU Operating Engineers FCU Operating Engineers FCU EL CENTRO Valley Independent Bank Valley Independent Bank Valley Independent Bank TIME_DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT 1DATE 01/14/04 0.990 7,000,000.00 07/14/04 02/11/04 1.030. 6,000,000.00 08/11/04 06/23/04 1.320 10,000,000.00 09/22/04 05/12/04 1.360 10,000,000.00 11 /10/04 06/18/04 1.370 20,000,000.00 09/16/04 04/09/04 0.980 5,000,000.00 10/08/04 01/29/04 1.030 6,000,000.00 07/29/04 06/10/04 1.320 6,000,000.00 09/10/04 04/08/04 0.980 134,000,000.00 07/09/04 04/29/04 1.030 176,500,000.00 07/30/04 05/21/04 1.080 242,000,000.00 08/20/04 06/18/04 1.370 82,000,000.00 09/16/04 02/11/04 1.030 5,000,000.00 08/11/04 04/07/04 0.970 5,000,000.00 10/06/04 06/11 /04 1.650 10, 000,000.00 12/10/04 04/08/04 1.010 20,000,000.00 07/01/04 04/16/04 1.030 20,000,000.00 07/16/04 04/23/04 1.070 32,500,000.00 07/23/04 22 NAME EL SEGUNDO First Coastal Bank NA First Coastal Bank NA Hawthorne Savings FSB Hawthorne Savings FSB Hawthorne Savings FSB Hawthorne Savings FSB Hawthorne Savings FSB Xerox Federal Credit Union Xerox Federal Credit Union Xerox Federal Credit Union FAIRFIELD Westamerica Bank Westamerica Bank Westamerica Bank FRESNO United Security Bank FULLERTON Fullerton Community Bank Fullerton Community Bank GOLETA Pacific Capital Bank Pacific Capital Bank Pacific Capital Bank GRANADA HILLS First State Bank of California First State Bank of California HAWTHORNE Western Federal Credit Union TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 01/22/04 1.020 2,000,000.00 03/03/04 1.060 2,000,000.00 04/08/04 0.980 60,000,000.00 01 /07/04 1.080 50, 000, 000.00 04/14/04 0.970 35,000,000.00 02/05/04 1.060 15, 000, 000.00 05/20/04 1.110 25,000,000.00 03/04/04 1.080 20,000,000.00 03/10/04 1.040 7,000,000.00 05/20/04 1.400 20,000,000.00 04/09/04 0.980 60,000,000.00 04/15/04 0.990 30,000,000.00 04/14/04 0.990 35,000,000.00 04/21 /04 01 /23/04 05/19/04 02/13/04 04/01 /04 06/09/04 03/19/04 04/22/04 04/22/04 23 1.150 40,000,000.00 1.020 8,000,000.00 1.390 9,000,000.00 1.050 61, 000,000.00 1.050 78,000,000.00 1.560 85,000,000.00 1.030 2,000,000.00 1.170 3,000,000.00 07/21 /04 09/01 /04 07/01 /04 07/07/04 07/14/04 08/05/04 08/18/04 09/02/04 09/09/04 11 /17/04 07/09/04 07/15/04 07/15/04 10/20/04 07/23/04 11 /17/04 08/13/04 10/01 /04 12/08/04 09/17/04 10/21 /04 1.070 30,000,000.00 07/23/04 TIME .DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE IRVINE Commercial Capital Bank 01/08/04 1.060 10,000,000.00 07/08/04 Commercial Capital Bank 01/29/04 1.010 10,000,000.00 07/29/04 Commercial Capital Bank 04/29/04 1.010 20,000,000.00 07/30/04 Commercial Capital Bank 05/20/04 1.090 20,000,000.00 08/18/04 Commercial Capital Bank 02/19/04 1.010 15,000,000.00 08/19/04 Commercial Capital Bank 02/26/04 1.060 14,000,000.00 08/26/04 Commercial Capital Bank 06/16/04 1.360 10,000,000.00 09/15/04 Commercial Capital Bank 04/15/04 1.090 10,000,000.00 10/14/04 LA JOLLA Silvergate Bank 03/12/04 1.060 5,000,000.00 09/10/04 LAKEPORT Lake Community Bank 01/14/04 0.990 2,000,000.00 07/14/04 er Bank of Lodi 03/24/04 1.080 5,000,000.00 09/22/04 Bank of Lodi 06/17/04 1.760 5,000,000.00 12/16/04 Farmers & Merchant Bk Cen CA 06/23/04 1.320 25,000,000.00 09/22/04 Farmers & Merchant Bk Cen CA 04/08/04 1.080 10,000,000.00 10/07/04 Farmers & Merchant Bk Cen CA 06/23/04 1.720 25,000,000.00 12/22/04 LOS ANGELES Broadway Federal Bank 01/09/04 1.070 2,500,000.00 07/09/04 Broadway Federal Bank 03/12/04 1.050 3,000,000.00 09/10/04 Cathay Bank 02/18/04 1.030 15,000,000.00 08/18/04 Cathay Bank 03/03/04 1.050 17,000,000.00 09/01/04 Cathay Bank 03/10/04 1.030 30,000,000.00 09/09/04 Cathay Bank 04/08/04 1.100 38,000,000.00 10/07/04 Cathay Bank 05/12/04 1.370 25,000,000.00 11/10/04 Cedars Bank 01/07/04 1.080 5,000,000.00 07/07/04 Cedars Bank 02/20/04 1.040 2,000,000.00 08/20/04 Cedars Bank 03/12/04 1.050 4,500,000.00 09/10/04 Cedars Bank 06/23/04 1.320 5,000,000.00 09/22/04 Center Bank 01/22/04 1.010 5,000,000.00 07/21/04 Center Bank 03/17/04 1.050 40,000,000.00 09/15/04 Center Bank 04/08/04 1.080 10,000,000.00 10/07/04 Center Bank 06/23/04 1.720 5,000,000.00 12/22/04 24 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE LOS ANGELES (continued) CHB America Bank 01/15/04 0.990 1,000,000.00 07/15/04 CHB America Bank 04/14/04 1.090 3,300,000.00 07/15/04 CHB America Bank 05/21/04 1.080 4,000,000.00 08/20/04 CHB America Bank 06/02/04 1.110 2,000,000.00 09/01/04 CHB America Bank 03/05/04 1.030 2,000,000.00 09/01/04 CHB America Bank 03/31/04 1.050 3,000,000.00 09/29/04 Eastern International Bank 05/05/04 1.210 900,000.00 11/03/04 Eastern International Bank 06/10/04 1.600 1,000,000.00 12/09/04 Hamni Bank 06/16/04 1.780 20,000,000.00 09/15/04 Hanmi Bank 04/16/04 1.010 25,000,000.00 07/16/04 Hanmi Bank 05/05/05 1.020 25,000,000.00 08/05/04 Hanmi Bank 06/03/04 1.140 25,000,000.00 09/02/04 Hanmi Bank 06/17/04 1.390 25,000,000.00 09/15/04 Mellon First Business Bank 04/09/04 0.980 50,000,000.00 07/09/04 Mellon First Business Bank 06/18/04 1.370 50,000,000.00 09/16/04 Mirae Bank 04/16/04 1.160 4,000,000.00 10/15/04 Nara Bank, NA 04/23/04 1.020 5,000,000.00 07/22/04 Nara Bank, NA 04/23/04 1.020 10,000,000.00 07/22/04 Nara Bank, NA 04/22/04 1.020 10,000,000.00 07/22/04 Nara Bank, NA 02/04/04 1.050 10,000,000.00 08/04/04 Nara Bank, NA 05/13/04 1.100 5,000,000.00 08/12/04 Nara Bank, NA 05/19/04 1.040 5,000,000.00 08/18/04 Nara Bank, NA 06/11/04 1.320 10,000,000.00 09/10/04 Nara Bank, NA 04/08/04 1.080 5,000,000.00 10/07/04 One United Bank 06/09/04 1.290 10,000,000.00 09/08/04 Pacific Union Bank 01/08/04 1.080 10,000,000.00 07/08/04 Pacific Union Bank 04/29/04 1.030 10,000,000.00 07/30/04 Pacific Union Bank 03/04/04 1.070 20,000,000.00 09/02/04 Preferred Bank 05/07/04 1.040 4,000,000.00 08/06/04 Preferred Bank 03/19/04 1.060 31,000,000.00 , 09/17/04 Sae Han Bank 05/21/04 1.080 2,000,000.00 08/20/04 State Bank of India (California) 01/07/04 1.090 3,000,000.00 07/07/04 State Bank of India (California) 05/20/04 1.440 2,000,000.00 11/18/04 Wilshire State Bank 02/05/04 1.060 8,000,000.00 07/30/04 Wilshire State Bank 05/13/04 1.100 8,000,000.00 08/12/04 Wilshire State Bank 02/25/04 1.060 7,000,000.00 08/25/04 Wilshire State Bank 03/05/04 1.070 3,000,000.00 09/03/04 Wilshire State Bank 05/28/04 1.110 12,000,000.00 09/03/04 Wilshire State Bank 03/19/04 1.050 8,000,000.00 09/17/04 Wilshire State Bank 04/09/04 1.080 7,000,000.00 10/08/04 Wilshire State Bank 06/17/04 1.480 12,000,000.00 10/08/04 25 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE County Bank 04/16/04 11010 10,000,000.00. 07/16/04 County Bank 06/02/04 1.120 5,000,000.00 09/03/04 County Bank 03/10/04 1.040 10,000,000.00 09/09/04 MONTEREY PARK Trust Bank FSB 12/19/03 1.050 2,000,000.00 07/01/04 Trust Bank FSB 01/07/04 1.080 3,000,000.00 07/07/04 Trust Bank FSB 04/01/04 1.050 3,000,000.00 10/01/04 NEWPORT BEACH Orange County Business Bank 06/23/04 1.320 4,000,000.00 09/22/04 NORTH HIGHLANDS Safe Credit Union 04/16/04 1.000 5,000,000.00 07/16/04 Safe Credit Union 05/14/04 1.090 20,000,000.00 08/13/04 OAKDALE Oak Valley Community Bank 04/16/04 1.000 2,500,000.00 07/16/04 Oak Valley Community Bank 03/18/04 1.060 3,500,000.00 09/16/04 OAKLAND Metropolitian Bank 01/23/04 1.010 1,000,000.00 07/23/04 Metropolitian Bank 04/28/04 1.010 500,000.00 07/29/04 Metropolitian Bank 04/28/04 1.010 1,000,000.00 07/29/04 Metropolitian Bank 02/26/04 1.060 1,000,000.00 08/26/04 Metropolitian Bank 03/24/04 1.050 2,000,000.00 09/22/04 Metropolitian Bank 06/03/04 1.450 500,000.00 12/02/04 Metropolitian Bank 06/03/04 1.450 1,000,000.00 12/02/04 ONTARIO Citizens Business Bank 02/06/04 1.060 30,000,000.00 08/06/04 Citizens Business Bank 06/04/04 1.220 25,000,000.00 09/03/04 Citizens Business Bank 03/24/04 1.050 30,000,000.00 09/22/04 Citizens Business Bank 04/02/04 1.050 25,000,000.00 10/01/04 Citizens Business Bank 05/20/04 1.420 30,000,000.00 11/18/04 26 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($j DATE PALO ALTO Bank of Petaluma 02/19/04 1.040 3,500,000.00 08/19/04 Bank of Petaluma 03/11/04 1.050 12,000,000.00 09/09/04 Bank of Santa Clara 02/19/04 1.040 20,000,000.00 08/19/04 Coast Commercial Bank 01/14/04 1.030 5,000,000.00 07/14/04 Coast Commercial Bank 02/19/04 1.050 20,000,000.00 08/19/04 Cupertino National Bank 01/14/04 1.020 10,000,000.00 07/14/04 Cupertino National Bank 03/11/04 1.050 10,000,000.00 09/09/04 Mid -Peninsula Bank 04/28/04 1.010 95,000,000.00 07/29/04 Mid -Peninsula Bank 02/19/04 1.030 5,000,000.00 08/19/04 Mid -Peninsula Bank 05/21/04 1.080 49,000,000.00 08/20/04 Mid -Peninsula Bank 03/11/04 1.040 10,000,000.00 09/09/04 Mt. Diablo National Bank 03/11/04 1.050 10,000,000.00 09/09/04 Peninsula Bank of Commerce 02/19/04 1.030 15,000,000.00 08/19/04 PALOS VERDES ESTATES Malaga Bank 02/20/04 1.020 10,000,000.00 08/20/04 Malaga Bank 03/05/04 1.050 4,000,000.00 09/03/04 Malaga Bank 05/13/04 1.370 7,000,000.00 11/10/04 Malaga Bank 06/16/04 1.750 9,000,000.00 12/15/04 PASADENA Community Bank 01/09/04 1.070 10,000,000.00 07/09/04 Community Bank 03/17/04 1.050 10,000,000.00 09/15/04 Community Bank 04/08/04 1.080 10,000,000.00 10/07/04 Community Bank 04/14/04 1.090 15,000,000.00 10/13/04 Community Bank 05/06/04 1.230 15,000,000.00 11/04/04 Community Bank 06/16/04 1.770 10,000,000.00 12/15/04 Wescom Credit Union 04/28/04 1.030 25,000,000.00 07/29/04 Wescom Credit Union 05/19/04 1.060 10,000,000.00 08/18/04 Wescom Credit Union 03/24/04 1.070 25,000,000.00 09/22/04 PLACERVILLE El Dorado Savings Bank 04/30/04 1.560 5,000,000.00 04/29/05 El Dorado Savings Bank 06/04/04 1.920 20,000,000.00 06/03/05 PLEASANTON Valley Community Bank 03/19/04 1.070 6,000,000.00 09/17/04 27 NAME POMONA PFF Bank and Trust PFF Bank and Trust PORTERVILLE Bank of the Sierra RANCHO SANTA FE La Jolla Bank, FSB La Jolla Bank, FSB La Jolla Bank, FSB La Jolla Bank, FSB La Jolla Bank, FSB La Jolla Bank, FSB - La Jolla Bank, FSB REDDING North Valley Bank REDWOOD CITY Provident Central Credit Union Provident Central Credit Union ROCKLIN Five Star Bank Five Star Bank RICHMOND Mechanics Bank Mechanics Bank Mechanics Bank Mechanics Bank Mechanics Bank Mechanics Bank Mechanics Bank Mechanics Bank TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 02/27/04 1.070 8,000,000.00 08/27/04 06/09/04 1.560 20,000,000.00 12/08/04 04/22/04 02/04/04 02/13/04 05/20/04 06/03/04 03/05/04 06/24/04 06/17/04 06/11 /04 04/29/04 06/03/04 01 /28/04 03/31 /04 07/09/03 08/08/03 09/12/03 10/15/03 10/31 /03 11 /07/03 03/03/04 04/01 /04 28 1.170 10,000,000.00 10/21 /04 1.030 25,000,000.00 08/04/04 1.030 15,000,000.00 08/13/04 1.090 25,000,000.00 08/18/04 1.110 10,000,000.00 09/02/04 1.050 10,000,000.00 09/02/04 1.350 5,000,000.00 09/23/04 1.720 10, 000, 000.00 12/16/04 1.670 3,000,000.00 12/10/04 1.210 20,000,000.00 10/28/04 1.430 20,000,000.00 12/02/04 1.000 2,000,000.00 07/28/04 1.030 2,000,000.00 09/29/04 1.110 10,000,000.00 07/08/04 1.370 10,000,000.00 08/04/04 1.290 10,000,000.00 09/10/04 1.260 10,000,000.00 10/15/04 1.300 10, 000, 000.00 10/29/04 1.380 10, 000,000.00 11 /05/04 1.260 10,000,000.00 03/03/05 1.260 10,000,000.00 04/01/05 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($j DATE RICHMOND (continued) Mechanics Bank 04/21/64 1.450 10,000,000.00 04/21/05 Mechanics Bank 06/09/04 1.960 10,000,000.00 06/09/05 RIVERSIDE Provident Savings Bank 03/25/04 1.050 25,000,000.00 09/23/04 SACRAMENTO American River Bank 01/09/04 1.050 1,000,000.00 07/09/04 American River Bank 01/29/04 1.010 1,500,000.00 07/29/04 American River Bank 02/27404 1.050 2,000,000.00 08/27/04 American River Bank 03/19/04 1.030 1,250,000.00 09/17/04 American River Bank 03/25/04 1.030 2,000,000.00 09/23/04 American River Bank 04/07/04 0.970 1,500,000.00 10/06/04 American River Bank 06/18/04 1.720 1,000,000.00 12/16/04 American River Bank 06/17/04 1.720 1,250,000.00 12/16/04 Bank of Sacramento 02/11 /04 1.060 1,500,000.00 08/11 /04 Bank of Sacramento 03/03/04 1.060 2,000,000.00 09/01/04 Bank of Sacramento 06/18/04 1.740 2,000,000.00 12/17/04 Merchants National Bank 01/22/04 1.010 2,000,000.00 07/21/04 Merchants National Bank 04/14/04 1.090 2,000,000.00 10/13/04 River City Bank 04/30/04 1.030 3,000,000.00 07/30/04 River City Bank 05/27/04 1.120 2,000,000.00 08/25/04 River City Bank 04/07/04 1.000 2,000,000.00 10/06/04 U.S. Bank 01/08/04 1.090 100,000,000.00 07/08/04 U.S. Bank 02/04/04 1.050 25,000,000.00 08/04/04 U.S. Bank 02/11/04 1.050 50,000,000.00 08/11/04 U.S. Bank 02/20/04 1.040 50,000,000.00 08/20/04 Union Bank of California 04/16/04 1.000 175,000,000.00 07/16/04 Union Bank of California 05/05/04 1.010 150,000,000.00 08/05/04 Union Bank of California 06/18/04 1.370 150,000,000.00 09/16/04 SAN DIEGO First Future Credit Union 02/27/04 1.070 5,000,000.00 08/27/04 First Future Credit Union 06/02/04 1.410 15,000,000.00 09/03/04 First Future Credit Union 06/16/04 1.380 8,000,000.00 09/15/04 First United Bank 02/13/04 1.060 1,000,000.00 08/13/04 First United Bank 04/15/04 1.120 2,000,000.00 10/14/04 Mission Federal Credit Union 01/15/04 1.020 10,000,000.00 07/15/04 Mission Federal Credit Union 03/03/04 1.060 10,000,000.00 09/01/04 29 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE SAN DIEGO (continued) Neighborhood National Bank 02/20/04 1.020 2,000,000.00 08/20/04 SAN FRANCISCO America California Bank 01/08/04 1.090 4,000,000.00 07/08/04 America California Bank 03/05/04 1.080 2,000,000.00 09/03/04 Citibank (West) FSB 01/08/04 1.108 150,000,000.00 07/08/04 Citibank (West) FSB 01/15/04 1.050 100,000,000.00 07/15/04 Citibank (West) FSB 01/22/04 1.050 100,000,000.00 07/21/04 Citibank (West) FSB 01/28/04 1.050 25,000,000.00 07/28/04 Oceanic Bank 09/12/03 1.260 4,000,000.00 09/10/04 Trans Pacific National Bank 02/05/04 1.070 1,000,000.00 08/05/04 Trans Pacific National Bank 03/25/04 1.060 1,000,000.00 09/23/04 Trans Pacific National Bank 06/23/04 1.730 1,000,000.00 12/22/04 United Commercial Bank 04/09/04 0.990 55,000,000.00 07/09/04 United Commercial Bank 01/14/04 1.020 50,000,000.00 07/14/04 United Commercial Bank 01/28/04 1.030 40,000,000.00 07/28/04 United Commercial Bank 05/27/04 1.120 20,000,000.00 08/25/04 United Commercial Bank 03/03/04 1.060 50,000,000.00 09/01/04 United Commercial Bank 06/04/04 1.230 25,000,000.00 09/03/04 United Commercial Bank 06/11/04 1.330 25,000,000.00 09/10/04 United Commercial Bank 03/19/04 1.060 65,000,000.00 09/17/04 United Commercial Bank 04/08/04 1.090 40,000,000.00 10/07/04 SAN JOSE Comerica Bank of California 04/08/04 1.000 25,000,000.00 07/01/04 Heritage Bank of Commerce 02/11/04 1.060 2,000,000.00 08/11/04 Heritage Bank of Commerce 02/11/04 1.060 2,000,000.00 08/11/04 Meriwest Credit Union 01/22/04 1.040 5,000,000.00 07/21/04 Meriwest Credit Union 03/17/04 1.080 5,000,000.00 09/15/04 Meriwest Credit Union 04/14/04 1.100 10,000,000.00 10/13/04 Santa Clara Co. Fed. C.U. 02/06/04 1.080 10,000,000.00 08/06/04 Santa Clara Co. Fed. C.U. 05/07/04 1.000 5,000,000.00 11/05/04 SAN LUIS OBISPO First Bank Of San Luis Obispo 02/11/04 1.060 6,000,000.00 08/11/04 First Bank Of San Luis Obispo 03/17/04 1.060 7,000,000.00 09/15/04 First Bank Of San Luis Obispo 03/26/04 1.050 5,000,000.00 09/24/04 First Bank Of San Luis Obispo 06/04/04 1.500 4,500,000.00 12/03/04 Mission Community Bank 03/04/04 1.080 1,000,000.00 09/02/04 30 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE SAN LUIS OBISPO (continued Mission Community Bank 04/07/04 0.990 2,500,000.00 10/06/04 Mission Community Bank 04/28/04 1.220 2,500,000.00 10/27/04 Mission Community Bank 06/10/04 1.600 1,000,000.00 12/09/04 San Luis Trust Bank 04/21 /04 1.110 1,700,000.00 10/20/04 SAN MARINO East West Federal Bank 01/09/04 1.070 42,000,000.00 07/09/04 East West Federal Bank 02/06/04 1.060 35,000,000.00 08/06/04 East West Federal Bank 05/20/04 1.110 38,000,000.00 08/18/04 East West Federal Bank 03/12/04 1.050 35,000,000.00 09/10/04 East West Federal Bank 06/10/04 1.320 50,000,000.00 09/10/04 SANTA ROSA National Bank of the Redwoods 01/22/04 1.010 10,000,000.00 07/21/04 National Bank of the Redwoods 02/11/04 1.050 5,000,000.00 08/11/04 National Bank of the Redwoods 04/29/04 1.210 5,000,000.00 10/28/04 SANTA MARIA Hacienda Bank 06/09/04 1.270 1,000,000.00 09/08/04 SONORA Central California Bank 03/26/04 1.040 5,000,000.00 09/24/04 STOCKTON Pacific State Bank 01/08/04 1.090 1,000,000.00 07/08/04 Pacific State Bank 04/07/04 0.990 1,000,000.00 10/06/04 Union Safe Deposit Bank 04/16/04 1.010 10,000,000.00 07/16/04 Union Safe Deposit Bank 04/23/04 1.050 15,000,000.00 07/23/04 Union Safe Deposit Bank 05/06/04 1.070 15,000,000.00 08/05/04 Union Safe Deposit Bank 05/14/04 1.100 15,000,000.00 08/13/04 Union Safe Deposit Bank 06/03/04 1.140 15,000,000.00 09/02/04 Union Safe Deposit Bank 06/10/04 1.330 10,000,000.00 09/10/04 Washington Mutual Bank 01/22/04 1.010 75,000,000.00 07/21/04 Washington Mutual Bank 02/20/04 1.040 60,000,000.00 08/20/04 Washington Mutual Bank 06/16/04 1.780 45,000,000.00 12/15/04 31 NAME TORRANCE China Trust Bank (USA) China Trust Bank (USA) China Trust Bank (USA) China Trust Bank (USA) TRACY Service 1 st Bank TUSTIN Sunwest Bank Sunwest Bank Sunwest Bank VACAVILLE Travis Credit Union WHITTIER Quaker City Bank Quaker City Bank Quaker City Bank TOTAL TIME DEPOSITS JUNE 2004 TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 04/16/04 1.010 40,000,000.00 04/23/04 1.050 30,000,000.00 05/14/04 1.100 20,000,000.00 06/11/04 1.330 35,000,000.00 07/16/04 07/23/04 08/13/04 09/10/04 06/17/04 1.750 2,000,000.00 12/16/04 04/16/04 0.980 6,000,000.00 07/16/04 05/12/04 1.080 7,800,000.00 08/12/04 06/09/04 1.240 1,000,000.00 09/08/04 06/02/04 1.410 40,000,000.00 12/01/04 01/14/04, 1.010 24,000,000.00 07/14/04 03/31/04 1.050 16,000,000.00 09/29/04 06/04/04 1.490 25,000,000.00 12/03/04 32 5,796,795,000.00 BANK DEMAND DEPOSITS June 2004 ($ in thousands) DAILY BALANCES DAY OF BALANCES WARRANTS MONTH PER BANKS OUTSTANDING 1 $ 1,682,564 $ 3,298,155 2 1,069,852 2,646,661 3 1,691,820 2,728,729 4 1,321,066 3,038,099 5 1,321,066 3,038,099 6 1,321,066 3,038,099 7 1,283,106 2,872,696 8 1,049,448 2,462,660 9 1,232,822 2,255,395 10 1,358,855 2,167,626 11 1,371,445 2,887,553 12 1,371,445 2,887,553 13 1,371,445 2,887,553 14 1,422,280 2,757,482 15 1,986,842 2,659,917 16 1,496,590 2,215,600 17 1,929,725 2,776,445 18 1,967,887 2,565,188 19 1,967,887 2,565,188 20 1,967,887 2,565,188 21 1,203,313 2,259,457 22 1,029,209 2,158,126 23 1,176,358 2,192,856 24 1,236,610 2,471,016 25 1,059,126 2,906,987 26 1,059,126 2,906,987 27 1,059,126 2,906,987 28 1,047,375 2,649,523 29 1,006,389 2,566,191 30 1,256,652 3,198,940 a AVERAGE DOLLAR DAYS $ 1,373,943 a/ The prescribed bank balance for June was $1,497,728. This consisted of $1,294,415 in compensating balances for services, balances for uncollected funds of $201,792 and an adjustment (+) of $1,521 for June delayed deposit credit 33 DESIGNATION BY POOLED MONEY INVESTMENT BOARD OF TREASURY POOLED MONEY INVESTMENTS AND DEPOSITS In accordance with sections 16480 through 16480.8 of the Government Code, the Pooled Money Investment Board, at its meeting on June 16, 2004, 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 No. 1660 $1,294,415,000 The active noninterest-bearing bank accounts designation constitutes a calendar month average balance. For purposes of computing the compensating balances, the Treasurer shall exclude from the daily balances any amounts contained therein as a result of nondelivery of securities purchased for "cash" for the Pooled Money Investment Account and shall adjust for any deposits not credited by the bank as of the date of deposit. The balances in such accounts may fall below the above amount provided that the balances computed by dividing the sum of daily balances of that calendar month by the number of days in the calendar month reasonably approximates that amount. The balances may exceed this amount during heavy collection periods or in anticipation of large impending warrant presentations to the Treasury, but the balances are to be maintained in such a manner as to realize the maximum return consistent with safe and prudent treasury management. 2. In accordance with law, for investment in securities authorized by section 16430, Government Code, or in term interest - bearing deposits in banks and savings and loan associations as follows: From To- ( 1) 06/14/04 (2) 06/21/04 (3) 06/28/04 (4) 07/05/04 (5) 07/12/04 (6) 07/19/04 (7) 07/26/04 (8) 08/02/04 (9) 08/09/04 (10 08/16/04 06/18/04 06/25/04 07/02/04 07/09/04 07/16/04 07/23/04 07/30/04 08/06/04 08/13/04 08/20/04 Time Deposits in Various Financial Institutions In Securities (sections 16503a Transactions (section 16430)* and 16602)* $ (6,301,600,000) $ 53,434,105,000 $ 5,612,295,000 $ (459,400,000) $ 52,974,705,000 $ 5,612,295,000 $ (2,352,000,000) $ 50,622,705,000 $ 5,612,295,000 $ (673,700,000) $ 49,949,005,000 $ 5,612,295,000 $ 718,000,000 $ 50,667,005,000 $ 5,612,295,000 $ (295,200,000) $ 50,371,805,000 $ 5,612,295,000 $ (838,400,000) $ 49,533,405,000 $ 5,612,295,000 $ (111,400,000) $ 49,422,005,000 $ 5,612,295,000 $ 397,000,000 $ 49,819,005,000 $ 5,612,295,000 $ 553,100,000 $ 50,372,105,000 $ 5,612,295,000 Estimated Total $ 59,046,400,000 $ 58,587,000,000 $ 56,235,000,000 $ 55,561,300,000 $ 56,279,300,000 $ 55,984,100,000 $ 55,145,700,000 $ 55,034,300,000 $ 55,431,300,000 $ 55,984,400,000 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 $ 1,294,415,000. Dated: June 16, 2004 * Government Code POOLED MONEY INVESTMENT BOARD: Signatures on file at STO and SCO Chairperson Member Member INVESTMENT ADVISORY BOARD Correspondence & Written Material Item C Meeting Date: September 16, 2004 ITEM TITLE: Joint meeting with Investment Advisory Board on September 28, 2004 BACKGROUND: The City Council has set forth September 28, 2004 to meet with the Commision and Boards. The meeting with the Investment Advisory Board has been set for 8:30 PM in the Study Session Room RECOMMENDATION: John M. Falconer, Finance Director Department Report: �.U.,� l�� !4 f1ii12R1 �••� ti • G�`� of T9 TO: FROM: DATE: The Honorable Mayor and Members of the City Council June S. Greek, City Clerk �Q August 17, 2004 SUBJECT: Meeting Schedule for Joint City Council/Commission Meeting The City Council has directed joint meetings to be scheduled, semi-annually with the Planning Commission, and annually with the other City Commissions. Past practice has been to schedule the joint sessions with all of the Commissions on a Tuesday in September. The Planning Commission will have their regular meeting on September 28, 2004. The schedule, utilized in previous years, called for meeting with the Planning Commission and Architectural and Landscape Review Committee in the Study Session Room beginning at 5:00 p.m. prior to the Planning Commission's regularly scheduled meeting. The remainder of the joint meetings was then scheduled in 30 minute increments as follows: 6:45 p.m. Community Services Commission 7:15 p.m. Cultural Arts Commission 7:45 p.m. 15-minute break 8:00 p.m. Historic Preservation Commission 8:30 p.m. Investment Advisory Board If this timetable is Council's. preference again this year, staff will make those arrangements on whichever date the City Council selects.. INVESTMENT ADVISORY BOARD Correspondence & Written Material Item D Meeting Date: September 16, 2004 ITEM TITLE: New LAIF Conference Dates BACKGROUND: The LAIF conference date has been changes to October 27-28, 2004 in Sacramento. If a Board Member is available to attend the conference, please contact staff who will make'the necessary travel and registration arraignments. RECOMMENDATION: Select up to two Board members to attend the conference. John M . Falconer, Finance Director Note aa�e c�`arge The annual Local Agency Investment Fund Conference will be held on Wednesday, October 27 at the Sacramento Convention Center in Sacramento. A post -conference tour of Investments/LAIF is scheduled the following day, Thursday, October 28 at the State Treasurer's Office. It is anticipated the conference registration form will be posted on this website and mailed to participating Local Agency Investment Fund agencies two months prior to the event. Please check back as more information becomes available in coming weeks. BOARD MEMBER ITEMS f G r` COUNCIL/RDA MEETING DATE: August 17, 2004 ITEM TITLE: Consideration of Investment Advisory Board 2004/2005 Work Plan RECOMMENDATION: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Approve the Investment Advisory Board 2004/2005 Work Plan. FISCAL IMPLICATIONS: Fiscal implications consist 'of Board Members meeting expenses, budgeted at $4, 500, and staff support time. CHARTER CITY IMPLICATIONS: None. BACKGROUND AND OVERVIEW: The Investment Advisory Board's 2004/2005 Work. Plan at their July 14, 2004 meeting consisted of the following: • Meeting with the City Council to discuss using a Portfolio Manager, which if acceptable, would require an Ordinance change; • Consider alternative investments based upon the increase in the size of the portfolio; • Continue to monitor developments regarding Government Sponsored Enterprises (GSE's), LAIF, Corporate Notes and Commercial Paper; and • Discuss extending the maturity limit from. the two year maximum on the portfolio — currently $5 million in Treasury instruments may exceed the two year limit and. may be invested up to five years. FINDINGS AND ALTERNATIVES: The alternatives available to the City Council include: 1. Approve the Investment Advisory Board 2004/2005 Work Plan; or 2. Do not approve the Investment Advisory Board 2004/2005 Work Plan; or 3. Provide staff with alternative direction. Respectfully submitted, 6Jo4hnM. Falconer, Finance Director Approved for submission by: Y Thomas P. Genovese, City Manager City Council Minutes 6 August 17, 2004 3. CONSIDERATION OF INVESTMENT ADVISORY BOARD 2004/2005 WORK PLAN. Finance Director Falconer presented the staff report. In response to Mayor Adolph, City Clerk Greek confirmed there is an item under Department Reports to consider a meeting date for a joint meeting with the City Commissions. In response to Council Member Osborne, Mr. Falconer stated the State allows investments up to five years. However, the City's Investment Policy only allows investments up to two years, except for $5 million of Treasury Bills, which can be invested between two and five years. He confirmed the City has $95 million invested with bond proceeds at this time. In response to Council Member. Sniff, Mr. Falconer stated he currently manages the City's investment portfolio, and doesn't believe there is any indication he is unable to handle it. Council Member Sniff indicated he is hesitant in approving an extension of the maturity limit because there could be significant changes over a five-year period. He suggested dealing with the Work Plan after a joint meeting with the Board. In response to Council . Member Henderson, Mr. Falconer explained the Investment Policy was adopted in June, and the proposed Work Plan is for items during Fiscal Year 2005/2006. He stated last - year the' Council authorized the Board to discuss using a Portfolio Manager for educational purposes, and several presentations were made to them. The Board desires to move forward in that direction but wants feedback from the Council before spending too much time on it. He feels the second item is a result of the large increase in the City's portfolio. Council Member Henderson stated she agrees dealing with this after the joint meeting. Council Member Perkins stated he doesn't have a problem going ahead with this and changing it after the joint meeting if needed Mayor Adolph stated he agrees with waiting. He asked the purpose in requesting a new portfolio manager and how much it will cost? . . City Council Minutes 7 August 17, 2004 Mr. Falconer stated he believes a majority of the Board feels a professionally - managed portfolio will raise the City's investment income, and allow hourly monitoring. The fee would be based on the amount invested with the portfolio manager. Council Member Osborne noted the flexibility authorized a few years ago to extend up to five years for Treasury Bills has not been utilized because of the current interest rate environment. He understood the idea behind using a portfolio manager is to see what is available to enhance the City's returns and still maintain security. Given the current environment, it may or may not be worth the cost but he feels the Council should consider the options that are available. He doesn't have a problem approving the Work Plan and discussing it further in September. MOTION — It was moved by Council Members Sniff/Henderson to continue the Investment Advisory Board 2004/2005 Work Plan until after the joint meeting with the Investment Advisory Board in September. Motion carried unanimously. MINUTE ORDER NO. 2004-107 . 4 ION OF A REQUEST BY LA QUINTA COUNTRY CLUB TO INCLUDE THE COST OF OLEANDER REMOVAL IN THE EVIOUSLY-APPROVED REIMBURSEMENT AGREEMENT FOR PARKWAY LA TO ALONG EISENHOWER DRIVE AND AVENUE 50. Mayor Akolph noted staff has requested this item be continued. MOTION — It as moved by Council Members Sniff/Henderson to continue consideration o the request' by La Quinta Country Club regarding reimbursement for leander removal to the next City Council meeting. Motion carried unanim sly. MINUTE ORDER NO. 2004-108. 5. SECOND READING OF ORDINANCE NO. 408 ORDINANCE NO. 408 AN ORDINANCE OF THE CITY COUNCIL F THE CITY OF LA QUINTA, CALIFORNIA, REZONING CERTAIN PROPER FROM NEIGHBORHOOD COMMERCIAL TO A MEDIUM HIGH DENSITY R ENTIAL DESIGNATION — — OR L.L.C.)