2005 12 14 IABP '^
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(760) 777-7000
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AGENDA
INVESTMENT ADVISORY BOARD
Study Session Room
78-495 Calle Tampico- La Quinta, CA 92253
December 14, 2005 - 5,30 3:00 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 November 9, 2005 for the Investment
Advisory Board.
V BUSINESS SESSION
A. Transmittal of Treasury Report for October, 2005
VI CORRESPONDENCE AND WRITTEN MATERIAL
A. Month End Cash Report — November, 2005
B. Pooled Money Investment Board Report — September, 2005
VII BOARD MEMBER ITEMS
Vlll ADJOURNMENT
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INVESTMENT ADVISORY BOARD Business Session: A
Meeting Date: December 14, 2005
ITEM TITLE:
Transmittal of Treasury Report
for October 31, 2005
BACKGROUND:
Attached please find the Treasury Report October 31, 2005.
RECOMMENDATION:
Review, Receive and File the Treasury Report for October 31, 2005.
a
John M. Falconer, Finance Director
MEMORANDUM
TO: La Quinta City Council
FROM: John M. Falconer, Finance Director/Treasurer
SUBJECT: Treasurer's Report for October 31, 2005
DATE: November 30, 2005
Attached is the Treasurer's Report for the month ending October 31, 2005. 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)
$ 122,841
$ 3,297,382
(1)
$3,420,223
$3,297,382
LAW
34,558,208
4,951,112
(500,000)
39,009,320
4,451,112
US Treasuries (2)
107,219,691
9,000,000
(2)
(9,000,000)
(20,560)
107,199,131
(20,560)
US Gov't Sponsored Enterprises (2)
28,550,804
(2)
(20,658)
28,530,146
(20,658)
Commercial Paper (2)
-
0
0
Corporate Notes
Mutual Funds
-
8,182,129
1
495,623
0
7,686,506
0
495,623
Total
$ 178,633,673
1 $ 17,248,494
$ 9,995,623
$ 41,218
$ 185,845,326
$ 7,211,653
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, 1 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.
J
1, // Z00-j
John M. Falconer Date
Finance Director/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.
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11
INVESTMENT ADVISORY BOARD
Meeting Date: December 14, 2005
TITLE:
Month End Cash Report November 2005 and
Other selected Financial Data
BACKGROUND:
Correspondence & Written
Material Item A
This cash report is not a complete Treasury Report (exclude petty cash, deferred
compensation and fiscal agent balances), but would report in a timely fashion
selected cash balances.
RECOMMENDATION:
Information item only.
John M. Falconer, Finance Director
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7
Bureau of the Public Debt : Recent Treasury Bill Auction Results Page I of
Recent Treasury Bill Auction Results
Price
Issue Maturity
Discount
Investment
Per
CUSIP
Term
Date Date
Rate %
Rate %
$100
7-DAY
12-08-2005 12-15-2005
4.080
4.140
99.920667
912795WE7
28-DAY
12-08-2005 01-05-2006
3.750
3.813
99.708333
912795WHO
91-DAY
12-08-2005 03-09-2006
3.930
4.025
99.006583
912795WS6
182-DAY
12-08-2005 06-08-2006
4.185
4.335
97.884250
912795XF3
13-DAY
12-02-2005 12-15-2005
3.960
4.021
99.857000
912795WE7
14-DAY
12-01-2005 12-15-2005
3.980
4.042
99.845222
912795WE7
28-DAY
12-01-2005 12-29-2005
3.920
3.987
99.695111
912795WG2
91-DAY
12-01-2005 03-02-2006
3.900
3.994
99.014167
912795WR8
182-DAY
12-01-2005 06-01-2006
4.155
4.303
97.899417
912795XE6
27-DAY
11-25-2005 12-22-2005
3.875
3.940
99.709375
912795WF4
90-DAY
11-25-2005 02-23-2006
3.940
4.034
99.015000
912795WQO
181-DAY
11-25-2005 05-25-2006
4.155
4.303
97.910958
912795XD8
28-DAY
11-17-2005 12-15-2005
3.930
3.997
99.694333
912795WE7
91-DAY
11-17-2005 02-16-2006
3.910
4.004
99.011639
912795WP2
182-DAY
11-17-2005 05-18-2006
4.195
4.345
97.879194
912795XCO
28-DAY
11-10-2005 12-08-2005
3.820
3.885
99.702889
912795WD9
91-DAY
11-10-2005 02-09-2006
3.870
3.963
99.021750
912795WN7
182-DAY
11-10-2005 05-11-2006
4.155
4.303
97.899417
912795XB2
1-DAY
11-09-2005 11-10-2005
3.850
3.904
99.989306
912795VZ1
28-DAY
11-03-2005 12-01-2005
3.725
3.788
99.710278
912795WC1
91-DAY
11-03-2005 02-02-2006
3.890
3.983
99.016694
912795WM9
182-DAY
11-03-2005 05-04-2006
4.125
4.271
97.914583
912795XA4
29-DAY
10-27-2005 11-25-2005
3.635
3.696
99.707181
912795WB3
91-DAY
10-27-2005 01-26-2006
3.850
3.942
99.026806
912795WL1
182-DAY
10-27-2005 04-27-2006
4.065
4.208
97.944917
912795WZO
28-DAY
10-20-2005 11-17-2005
3.520
3.579
99.726222
912795WA5
91-DAY
10-20-2005 01-19-2006
3.785
3.875
99.043236
912795WK3
182-DAY
10-20-2005 04-20-2006
4.015
4.155
97.970194
912795WY3
28-DAY
10-13-2005 11-10-2005
3.460
3.518
99.730889
912795VZ1
91-DAY
10-13-2005 01-12-2006
3.630
3.714
99.082417
912795WJ6
182-DAY
10-13-2005 04-13-2006
3.950
4.086
98.003056
912795WX5
11-DAY
10-06-2005 10-17-2005
3.500
3.552
99.893056
912795TQ4
28-DAY
10-06-2005 11-03-2005
3.295
3.349
99.743722
912795VY4
91-DAY
10-06-2005 01-05-2006
3.525
3.606
99.108958
912795WHO
182-DAY
10-06-2005 04-06-2006
3.870
4.002
98.043500
912795WW7
28-DAY
09-29-2005 10-27-2005
3.150
3.202
99.755000
912795VX6
91-DAY
09-29-2005 12-29-2005
3.440
3.518
99.130444
912795WG2
182-DAY
09-29-2005 03-30-2006
3.745
3.870
98.106694
912795WV9
3
http://wwws.publicdebt.treas.gov/AI/OFBills
12/7/200
Bureau of the Public Debt : Recent Treasury Bill Auction Results Page 2 of
28-DAY 09-22-2005 10-20-2005 3.210 3.263 99.750333 912795VW8
91-DAY 09-22-2005 12-22-2005 3.495 3.575 99.116542 912795WF4
Effective with the 11 /2/98 auction, all bills are auctioned using the single -priced method.
Return to Auction_ Information Pale
Privacy & Security Notices I Terms & Conditions I Accessibility I Data Quality
Last Updated December 7, 2005 7:19:27 PM EST
4
http://wwws.publiedebt.treas.gov/AI/OFBills 12/7/200
Phil Angelides, State Treasurer
Inside the State Treasurer's Office
Local Agency Investment Fund (LAIF)
PMIA Performance Report
Date
- Dally, ,
`' Yield,. ;
Quarter to
Date Yield
Average
Maturity '
in days)'.
11/22/2005
3.69
3.52
179
11/23/2005
3.69
3.52
178
11 /24/2005
3.69
3.52
178
11/25/2005
3.69
3.53
178
11/26/2005
3.69
3.53
178
11/27/2005
3.69
3.53
178
11/28/2005
3.70
3.54
178
11/29/2005
3.71
3.54
175
11/30/2005
3.73
3.55
204
12/1/2005
3.73
3.55
212
12/2/2005
3.73
3.55
213
12/3/2005
3.73
3.56
213
12/4/2005
3.73
3.56
213
12/5/2005
3.73
3.56
211
Corporate Bo
2.00%
Commercial Paper
12.06%
Time Dep
14.46`
LAIF Performance Report
Quarter Ending 9/30105
Apportionment Rate: 3.18%
Earnings Ratio: .00008712246785713
Fair Value Factor: .99708304
PMIA Average Monthly Effective Yields
November 2005 3.636%
October 2005 3.458%
September 2005 3.324%
Pooled Money Investment Account
Portfolio Composition
$52.0 Billion
10/31 /05
Reverses Treasuries
Loans-0.38% 8 28°/
CDs/BNs
22.98%
Agencies
25.41 %
5
FRB: H.15--Selected Interest Rates, Web -Only Daily Update --December 7, 2005
Page l of
Federal Reserve Statistical release
1.15
Selected Interest Rates (Daily)
skil, I , (mfeni
Release Date: December 7, 2005
Wceklv release dates and announcements I Historical data I About
Daily update Other.formats: Screen reader I ASCII
The weekly release .is posted on Monday. Daily updates of the weekly release are posted
through Friday on this site. If Monday is a holiday, the weekly release will be posted
after the holiday and the daily update will not be posted on that Tuesday.
FEDERAL RESERVE STATISTICAL RELEASE
H.15 DAILY UPDATE: WEB RELEASE ONLY
:;ELECTED INTEREST RATES
For use at 4:15 p.m. Eastern Time
Yields in percent per annum December 7, 2005
2005 2005
Instruments
Dec
Dec
5
6
Federal funds (effective) 1 2 3
4.02
3.97
Commercial Paper 3 4 5
Nonfinancial
1-month
n.a.
4.14
2-month
n.a.
n.a.
3-month
n.a.
n.a.
Financial
1-month
4.24
4.22
2-month
4.27
4.28
3-month
4.31
4.35
CDs (secondary market) 3 6
1-month
4.29
4.30
3-month
4.41
4.42
6-month
4.61
4.61
Eurodollar deposits (London) 3 7
1-month
4.30
4.31
3-month
4.42
4.43
6-month
4.61
4.65
Bank prime loan 2 3 8
7.00
7.00
Discount window primary credit 2 9
5.00
5.00
U.S. government securities
Treasury bills (secondary market) 3 4
4-week
3.95
3.77
3-month
3.95
3.95
6-month
4.20
4.18
Treasury constant maturities
Nominal 10
1-month
4.01
3.84
3-month
4.04
4.04
6-month
4.35
4.33
6
http://www.federalreserve.gov/Releases/H 15/update/ 12/7/20C
FRB: H.15--Selected Interest Rates, Web -Only Daily Update --December 7, 2005
Page 2 of
1-year
4.39
4.36
2-year
4.47
4.42
3-year
4.48
4.41
5-year
4.50
4.42
7-year
4.53
4.44
10-year
4.57
4.49
20-year 11
4.85
4.79
Inflation indexed 1.2
5-year
2.09
2.06
7-year
2.13
2.09
10-year
2.17
2.12
20-year
2.22
2.18
Inflation -indexed long-term average 13
2.18
2.14
r;l crest rate swaps 14
1-year
4.87
4.84
2-year
4.91
4.88
3-year
4.94
4.91
4-year
4.97
4.94
5-year
5.00
4.97
7-year
5.05
5.01
10-year
5.11
5.08
30-year
5.30
5.27
COrporate bonds
Moody's seasoned
Aaa 15
5.48
5.41
Baa
6.43
6.37
ate & local bonds 16
';"'Inventional mortgages 17
n.a. Not available.
1,'ootnotes
1. The daily effective federal funds rate is a weighted average of rates on brokered tr
2. Weekly figures are averages of 7 calendar days ending on Wednesday of the current we
figures include each calendar day in the month.
3. Annualized using a 360-day year or bank interest.
4. On a discount basis.
5. Interest rates interpolated from data on certain commercial paper trades settled by
Depository Trust Company. The trades represent sales of commercial paper by dealers or
issuers to investors (that is, the offer side). The 1-, 2-, and 3-month rates are equiv
30-, 60-, and 90-day dates reported on the Board's Commercial Paper Web page
(www.federalreserve.gov/releases/cp/).
G. An average of dealer bid rates on nationally traded certificates of deposit.
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.S.-cha
commercial banks. Prime is one of several base rates used by banks to price short-term
Loans.
1i. The rate charged for discounts made and advances extended under the Federal Reserve'
credit discount window program, which became effective January 9, 2003. This rate repla
7
http://www.federalreserve.gov/Releases/H 15/update/ 12/7/200
FRB: H.15--Selected Interest Rates, Web -Only Daily Update --December 7, 2005 Page 3 of
adjustment credit, which was discontinued after January 8, 2003. For further informatio
www.federaireserve.gov/boarcidocs/press/bcreg/2002/200210312/default.htm. The rate repor
for the Federal Reserve Bank of New York. Historical series for the rate on adjustment
we11 as the rate on primary credit are available at www.federalreserve.gov/releases/hl5
10. Yields on actively traded non -inflation -indexed issues adjusted to constant maturit
U..,. Treasury.
11. A factor for adjusting the daily nominal 20-year constant maturity in order to esti
30-year nominal rate can be found at
www.treas.gov/offices/domestic-finance/debt-management/interest-rate/Itcoinpositeindex.h
12. Yields on Treasury inflation protected securities (TIPS) adjusted to constant matur
:'ource: U.S. Treasury. Additional information on both nominal and inflation -indexed yie
round at www.treas.gov/offices/domestic-finance/debt-management/interest-rate/index.htm
13. Based on the unweighted average bid yields for all TIPS with remaining terms to mat
more than 10 years.
14. International Swaps and Derivatives Association (ISDA(R)) mid -market par swap rates
for a Fixed Rate Payer in return for receiving three month LIBOR, and are based on rate
3t 11:00 a.m. Eastern time by Garban Intercapital plc and published on Reuters Page ISD
;SDAFIX is a registered service mark of ISDA. Source: Reuters Limited.
t5. Moody's Aaa rates through December 6, 2001 are averages of Aaa utility and Aaa indu
rates. As of December 7, 2001, these rates are averages of Aaa industrial bonds only.
16. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; `Thursday
17. Contract interest rates on commitments for fixed-rate first mortgages. Source: FHLM
---------------------------------------------------------------------
Note: Weekly and monthly figures on this release, as well as annual figures available o
Board's historical H.15 web site (see below), are averages of business days unless othe
--------------------------------------------------------------------------
Current and historical H.15 data are available on the Federal Reserve Board's web site
(www.federalreserve.gov/). For information about individual copies or subscriptions, co
Publications Services at the Federal Reserve Board (phone 202-452-3244, fax 202-728-588
electronic access to current and historical data, call STAT-USA at 1-800-782-8872 or 20
Description of the Treasury Nominal and Inflation -Indexed Constant Maturity Series
Yields on Treasury nominal securities at "constant maturity" are interpolated by the U.
from the daily yield curve for non -inflation -indexed Treasury securities. This curve, w
the yield on a security to its time to maturity, is based on the closing market bid yie
actively traded Treasury securities in the over-the-counter market. These market yields
calculated from composites of quotations obtained by the Federal Reserve Bank of New Yo
constant maturity yield values are read from the yield curve at fixed maturities, curre
and 6 months and 1, 2, 3, 5, 7, 10 and 20 years. This method provides a yield for a 10-
maturity, for example, even if no outstanding security has exactly 10 years remaining t
Similarly, yields on inflation -indexed securities at "constant maturity" are interpolat
daily yield curve for Treasury inflation protected securities in the over-the-counter m
inflation -indexed constant maturity yields are read from this yield curve at fixed matu
currently 5, 7, 10, and 20 years.
8
http://www.federalreserve.gov/Releases/H 15/update/ 12/7/200
FRB: H.15--Selected Interest Rates, Web -Only Daily Update --December 7, 2005 Page 4 of
Weekly release elates and announcements I Historical data I About
Daily update Other formats: Screen reader I ASCII
Statistical releases
cases
I Icnpc I ECOnOIT)ic research and data
Accessibility I Contact
Last update: December 7, 2005
9
http://www.federalreserve.gov/Releases/H 15/update/ 12/7/200
FRB:Commercial Paper Rates and Outstandings
Page l of
Federal Reserve Release
Release I About I Outstandings I Historical discount rates I Historical_outstandin_gs I Year End
Data as of December 6, 2005
Commercial Paper Rates and Outstandings
Derived from data supplied by The Depository Trust Company
Posted December 7, 2005
iliernnnt rntPC
Term
AA
financial
AA
nonfinancial
A2/P2
nonfinancial
1-day 3.97
3.98
4.07
7-day 4.07
3 96
4. 55
15-day 4.16
4.04
=4.28
30-day 4.22
4.14
4.36
60-day 4.28
ND
=4.35
4.35
ND
-�][90-day
4.38
Trade data insufficient to support calculation of the 60-day AA nonfinancial and 90-day AA nonfinancial rate(s) for December 6, 2005 .
Yield curve
M nev markeet basis
Financial
- — — Notifat anciat
---•------- A2./P2
1 7 15 30
Days to Matur ty
60
Percent.
4..5
4.3
4.1
3.�,f
90
http://www.federalreserve.gov/Releases/CP/
10
12/7/200
FRB:Commercial Paper Rates and Outstandings
Page 2 of
n;ci-niint r51tP Cnrcnd
Basis points
12()
I
8
60
40
2
0
2M I 2(X)2 2M3 2004 ZU11D
Ilicrnnnt rate history
Percent
5
4
3
1)
[C
2(X) I 2(1)2 2(X)3 0 'AAKI
Outstandings
Weekly (Wednesday), seasonally adjusted
http://www.federalreserve.gov/Releases/CP/
11
12/7/20C
FRB:Commercial Paper Rates and Outstandings
Page 3 of
Rillirans of dollars
1510
1490
1450
1420
1390
1360
1330
1300
1270
1240
1210
1 180
11;0
----- I asa��rrci;i{ ilclt �;,aiet
-- --. — �4�rrlinruri,�1 fri�lyt ,��zrtc•i
tf
v
t�
Billions of dollars
290
dY
250
210
r
170
2001 2(X)2 2(li)3 200.�tXY)
130
90
The daily commercial paper release will usually be available before 11:OOam EST. However, the Federal Resery
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 2005 :Q3
Release I About I Outstandings I Historical discount rates I Historical outstandiny's I Year End
Home I Statistical rel_e.ases
Accessibility) Contact Us
Last update: December 7, 2005
http://www.federalreserve.gov/Releases/CP/
12
12/7/200
INVESTMENT ADVISORY BOARD
Meeting Date: December 14, 2005
TITLE:
Pooled Money Investment Board Report
for September 2005
BACKGROUND:
Correspondence
& Written Material Item B
The Pooled Money Investment Board Report for September 2005 is included in the
agenda packet.
RECOMMENDATION:
Receive & File
,John M. Falconer, Finance Director
Phil Angelides
September 2005
STATE OF CALIFORNIA
STATE TREASURER'S OFFICE
POOLED MONEY INVESTMENT BOARD REPORT
September 2005
TABLE OF CONTENTS
SUMMARY................................................................. 01
SELECTED INVESTMENT DATA .................................... 02
PORTFOLIO COMPOSITION ........................................ 03
INVESTMENT TRANSACTIONS ..................................... 04
TIMEDEPOSITS........................................................ 18
BANK DEMAND DEPOSITS .......................................... 31
POOLED MONEY INVESTMENT BOARD DESIGNATION... 32
POOLED MONEY INVESTMENT ACCOUNT
SUMMARY OF INVESTMENT DATA
A COMPARISON OF SEPTEMBER 2005 WITH SEPTEMBER 2004
(DOLLARS IN THOUSANDS)
SEPTEMBER 2005 SEPTEMBER 200CHANGE 4
Average Daily Portfolio
$ 51,811,038 $
49,406,088 $
+ 2,404,950
Accrued Earnings
$ 141,537 $
71,928 $
+69,609
Effective Yield
3.324
1.771
+1.553
Average Life -Month End (In Days)
169
182
-13
Total Security Transactions
Amount
$ 23,181,408
$
12,164,106
$
+11,017,302
Number
482
263
+219
Total Time Deposit Transactions
Amount
$ 2,105,500
$
2,885,000
$
-779,500
Number
148
176
-28
Average Workday Investment Activity
$ 1,204,138
$
716,624
$
+487,514
Prescribed Demand Account Balances
For Services
$ 341,004
$
747,740
$
-406,736
For Uncollected Funds
$ 156,921
$
206,358
$
-49,437
1
PHIL ANGELIDES
TREASURER
STATE OF CALIFORNIA
INVESTMENT DIVISION SELECTED INVESTMENT DATA
ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO
(000 OMITTED)
September 30, 2005
DIFFERENCE IN
PERCENT OF
PERCENT OF
PORTFOLIO FROM
TYPE OF SECURITY
AMOUNT
PORTFOLIO
PRIOR MONTH
Government
Bills
$
1,677,217
3.21
-2.59
Bonds
Notes
3,222,907
6.17
-1.68
Strips
Total Government
$
4,900,124
9.38
-4.27
Federal Agency Coupons
$
7,512,808
14.39
-0.08
Certificates of Deposit
10,930,113
20.93
+0.67
Bank Notes
1,350,000
2.59
+0.83
Bankers' Acceptances
0
0.00
0.00
Repurchases
0
0.00
0.00
Federal Agency Discount Notes
5,692,948
10.90
-1.63
Time Deposits
7,475,495
14.31
-0.05
GNMAs
268
0.00
0.00
Commercial Paper
8,206,669
15.71
+5.00
FHLMC/Remics
480,196
0.92
-0.06
Corporate Bonds
1,021,464
1.96
-0.17
AB 55 Loans
4,752,520
9.10
-0.83
GF Loans
0
0.00
0.00
Reversed Repurchases
(99,600)
(0.19)
-0.59
Total (All Types)
$
52,223,005
100.00
INVESTMENT ACTIVITY
Pooled Money
Other
Time Deposits
Totals
PMIA Monthly Average Effective Yield
Year to Date Yield Last Day of Month
SEPTEMBER 2005
NUMBER
AMOUNT
482
$ 23,181,408
60
756,388
148
2,105,500
690
$ 26,043,296
3.324
3.191
L:
AUGUST 2005
NUMBER AMOUNT
448 $ 21,682,046
6 144,281
150 3,549,500
604 $ 25,375,827
3.179
3.130
Pooled Money Investment Account
Portfolio Composition
$52.2 Billion
Corpor
Commercial Pape
15.71 %
Time Depc
14.31
09/30/05
Loans Reverses Treasuries
9.10% -0.190 0 9.38%
CDs/l3Ns
23.52%
:s
Agencies
25.29%
POOLED MONEYINVESTMENT ACCOUNT
d/
a/ a/ MATURITY TRANS PAR DAYS AMOUNT EFFECTIVE
DATE TYPE DESCRIPTION DATE YIELD (000) HELD EARNED YIELD
09/01/05 REDEMPTIONS
CB
CITICORP
7.125%
09/01/05
2.630
$21,927
293
$477,524.38
2.620
CB
CITICORP
7.125%
09/01/05
3.881
14,020
1,122
1,762,531.17
3.752
CD
FORTIS
3.200%
09/01/05
3.200
50,000
122
542,222.22
3.244
CD
FORTIS
3.200%
09/01/05
3.200
50,000
122
542,222.22
3.244
CD
LLOYDS
3.200%
09/01/05
3.200
50,000
122
542,222.22
3.244
CD
LLOYDS
3.200%
09/01/05
3.200
50,000
122
542,222.22
3.244
CID
GECC
09/01/05
3.550
10,000
1
986.11
3.600
CID
GECC
09/01/05
3.550
50,000
1
4,930.56
3.600
CID
GECC
09/01/05
3.550
50,000
1
4,930.56
3.600
CID
GECC
09/01/05
3.550
50,000
1
4,930.56
3.600
CID
GECC
09/01/05
3.550
50,000
1
4,930.56
3.600
CID
NCAT
09/01/05
3.580
44,000
1
4,375.56
3.630
CID
GE CO
09/01/05
3.500
50,000
7
34,027.78
3.551
CID
GE CO
09/01/05
3.500
50,000
7
34,027.78
3.551
CID
GE CO
09/01/05
3.500
50,000
7
34,027.78
3.551
CID
GE CO
09/01/05
3.500
50,000
7
34,027.78
3.551
CID
GE CO
09/01/05
3.500
50,000
7
34,027.78
3.551
CID
GE CO
09/01/05
3.500
50,000
7
34,027.78
3.551
CID
MORG STAN
09/01/05
3.510
50,000
9
43,875.00
3.562
CID
MORG STAN
09/01/05
3.510
50,000
9
43,875.00
3.562
CID
MORG STAN
09/01/05
3.510
50,000
9
43,875.00
3.562
CID
COUNTRY
09/01/05
3.520
50,000
28
136,888.89
3.579
CID
COUNTRY
09/01/05
3.520
50,000
28
136,888.89
3.579
CID
COUNTRY
09/01/05
3.500
50,000
29
140,972.22
3.559
CID
GE CO
09/01/05
3.440
50,000
29
138,555.56
3.497
CID
GE CO
09/01/05
3.440
50,000
29
138,555.56
3.497
CID
GE CO
09/01/05
3.440
50,000
29
138,555.56
3.497
CID
GE CO
09/01/05
3.440
50,000
29
138,555.56
3.497
CP
COUNTRY
09/01/05
3.500
16,000
30
46,666.67
3.559
CID
COUNTRY
09/01/05
3.500
50,000
30
145,833.33
3.559
CID
NISSAN
09/01/05
3.530
33,964
30
99,910.77
3.590
DISC NOTES
FHLMC
09/01/05
3.210
50,000
63
280,875.00
3.273
DISC NOTES
FHLMC
09/01/05
3.210
50,000
63
280,875.00
3.273
DISC NOTES
FHLMC
09/01/05
3.210
50,000
63
280,875.00
3.273
DISC NOTES
FHLMC
09/01/05
3.210
50,000
63
280,875.00
3.273
TREAS
BILLS
09/01/05
3.280
50,000
27
123,000.00
3.334
TREAS
BILLS
09/01/05
3.280
50,000
27
123,000.00
3.334
TREAS
BILLS
09/01/05
3.280
50,000
27
123,000.00
3.334
TREAS
BILLS
09/01/05
3.280
50,000
27
123,000.00
3.334
TREAS
BILLS
09/01/05
3.268
50,000
28
127,069.44
3.321
TREAS
BILLS
09/01/05
3.268
50,000
28
127,069.44
3.321
TREAS
BILLS
09/01/05
3.268
50,000
28
127,069.44
3.321
TREAS
BILLS
09/01/05
3.268
50,000
28
127,069.44
3.321
TREAS
BILLS
09/01/05
3.270
50,000
29
131,708.33
3.324
TREAS
BILLS
09/01/05
3.270
50,000
29
131,708.33
3.324
TREAS
BILLS
09/01/05
3.270
50,000
29
131,708.33
3.324
TREAS
BILLS
09/01/05
3.270
50,000
29
131,708.33
3.324
TREAS
BILLS
09/01/05
2.955
50,000
122
500,708.33
3.026
TREAS
BILLS
09/01/05
2.955
50,000
122
500,708.33
3.026
4
POOLED MONEY INVESTMENT
a/
DATE TYPE DES'
09/01/05 RRP
TREAS BILLS
TREAS BILLS
TREAS BILLS
09/01/05 PURCHASES
AGENCY
FHLB
BN
WORLD
BN
WORLD
CD
US BANK
CD
US BANK
CD
US BANK
CD
US BANK
CP
NCAT
CP
NCAT
CP
NCAT
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
GECC
CP
TOYOTA
CP
TOYOTA
CP
TOYOTA
09/02/05 REDEMPTIONS
d/
a/ MATURITY TRANS
PAR
DAYS
AMOUNT
EFFECTIVE
DATE
YIELD
000
HELD
EARNED
YIELD
09/29/05
3.260
50,000
9
-40,607.38
-3.305
09/29/05
3.260
50,000
9
-40,607.38
-3.305
09/29/05
3.260
50,000
9
-40,607.38
-3.305
4.250%
03/15/07
4.250
3.720%
11/28/05
3.720
3.720%
11/28/05
3.720
3.930%
02/28/06
3.930
3.930%
02/28/06
3.930
3.930%
02/28/06
3.930
3.930%
02/28/06
3.930
09/02/05
3.550
09/02/05
3.550
09/02/05
3.550
02/28/06
3.800
02/28/06
3.800
02/28/06
3.800
02/28/06
3.800
02/28/06
3.800
02/28/06
3.800
02/28/06
3.820
02/28/06
3.820
02/28/06
3.820
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
CD
DEXIA
3.265%
09/02/05
3.270
30,000
85
231,684.82
3.315
CD
DEXIA
3.265%
09/02/05
3.270
50,000
85
386,141.38
3.315
CD
TORONTO
3.175%
09/02/05
3.180
50,000
126
556,490.37
3.224
CD
TORONTO
3.175%
09/02/05
3.180
50,000
126
556,490.37
3.224
CP
NCAT
09/02/05
3.550
50,000
1
4,930.56
3.600
CP
NCAT
09/02/05
3.550
50,000
1
4,930.56
3.600
CP
NCAT
09/02/05
3.550
50,000
1
4,930.56
3.600
09/02/05 PURCHASES
CP
CP
CP
CP
CP
CP
CP
CP
09/06/05 REDEMPTION
CD
GECC
S
09/06/05
3.470
50,000
GECC
09/06/05
3.470
50,000
GECC
09/06/05
3.470
50,000
GECC
09/06/05
3.470
50,000
GECC
09/06/05
3.470
50,000
NCAT
09/06/05
3.480
50,000
NCAT
09/06/05
3.480
50,000
NCAT
09/06/05
3.480
50,000
SVENSKA
3.250% 09/06/05
3.240
50,000 97 436,511.66 3.285
5
POOLED MONEY INVESTMENTACCOUNT
d/
,
a/
of MATURITY
TRANS
PAR
DAYS
AMOUNT
EFFECTIVE
DATE
TYPE
DESCRIPTION
DATE
YIELD
O( 00)
HELD
EARNED
YIELD
09/06/05
REDEMPTIONS (continued)
CD
SVENSKA
3.250% 09/06/05
3.240
50,000
97
436,511.66
3.285
CD
SVENSKA
3.250% 09/06/05
3.240
50,000
97
436,511.66
3.285
CP
GECC
09/06/05
3.470
50,000
4
19,277.78
3.520
CP
GECC
09/06/05
3.470
50,000
4
19,277.78
3.520
CP
GECC
09/06/05
3.470
50,000
4
19,277.78
3.520
CP
GECC
09/06/05
3.470
50,000
4
19,277.78
3.520
CP
GECC
09/06/05
3.470
50,000
4
19,277.78
3.520
CP
NCAT
09/06/05
3.480
50,000
4
19,333.33
3.530
CP
NCAT
09/06/05
3.480
50,000
4
19,333.33
3.530
CP
NCAT
09/06/05
3.480
50,000
4
19,333.33
3.530
CP
MORG STAN
09/06/05
3.250
50,000
97
437,847.22
3.324
CP
MORG STAN
09/06/05
3.250
50,000
97
437,847.22
3.324
CP
MORG STAN
09/06/05
3.250
50,000
97
437,847.22
3.324
DISC NOTES
FHLMC
09/06/05
3.080
31,000
134
355,397.78
3.159
DISC NOTES
FHLMC
09/06/05
3.080
50,000
134
573,222.22
3.159
DISC NOTES
FHLMC
09/06/05
3.080
50,000
134
573,222.22
3.159
09/06/05
NO PURCHASES
09/07/05
RRS
TREAS
BILLS
10/27/05
3.250
50,000
TREAS
BILLS
10/27/05
3.250
50,000
TREAS
BILLS
10/27/05
3.250
50,000
TREAS
BILLS
10/27/05
3.250
50,000
09/07/05
REDEMPTIONS
CP
HSBC
09/07/05
3.500
50,000
14
68,055.56
3.553
CP
HSBC
09/07/05
3.500
50,000
14
68,055.56
3.553
09/07/05
RRP
TREAS
BILLS
09/29/05
3.250
50,000
14
-62,973.26
-3.295
TREAS
BILLS
09/29/05
3.250
50,000
14
-62,973.26
-3.295
09/07/05
PURCHASES
q//
CP
JP MORGAN
09/29/05
3.570
50,000
CP
JP MORGAN
09/29/05
3.570
50,000
CP
JP MORGAN
09/29/05
3.570
50,000
CP
JP MORGAN
09/29/05
3.570
50,000
09/07/05
PURCHASES
CP NISSAN 09/08/05 3.530 49,000
09/08/05 REDEMPTIONS
CP NISSAN 09/08/05 3.530 49,000 1 4,804.72 3.579
6
POOLED MONEY
INVESTMENT
ACCOU
DATE
a/
TYPE
DESCRIPTI
09/08/05
PURCHASES
CD
W/F
CD
W/F
CD
US BANK
CD
US BANK
CP
COUNTRY
CP
COUNTRY
09/09/05
RRS
TREAS
BILLS
TREAS
BILLS
TREAS
BILLS
TREAS
BILLS
TREAS
BILLS
09/09/05
REDEMPTIONS
CP
COUNTRY
CP
COUNTRY
CP
JP MORGAN
CP
JP MORGAN
CP
JP MORGAN
09/09/05
RRP
TREAS
BILLS
TREAS
BILLS
TREAS
BILLS
09/09/05 PURCHASES g/
EFFECTIVE
YIELD
3.600%
09/27/05
3.600
50,000
3.600%
09/27/05
3.600
50,000
3.627%
09/28/05
3.627
50,000
3.627%
09/28/05
3.627
50,000
09/20/05
3.570
50,000
09/20/05
3.570
50,000
10/27/05
3.250
50,000
10/27/05
3.250
50,000
10/27/05
3.250
50,000
10/27/05
3.250
50,000
10/27/05
3.250
50,000
09/09/05
3.540
50,000
15
73,750.00
3.594
09/09/05
3.540
50,000
15
73,750.00
3.594
09/09/05
3.500
50,000
29
140,972.22
3.559
09/09/05
3.500
50,000
29
140,972.22
3.559
09/09/05
3.500
50,000
29
140,972.22
3.559
12/01/05 3.250 50,000 29-129,462.85 -3.295
12/01/05 3.250 50,000 29-129,462.85 -3.295
12/01/05 3.250 50,000 29-129,462.85 -3.295
CP
JP MORGAN
09/29/05
3.580
50,000
CP
JP MORGAN
09/29/05
3.580
50,000
CP
JP MORGAN
09/29/05
3.580
50,000
CP
JP MORGAN
09/29/05
3.580
50,000
CP
JP MORGAN
09/29/05
3.580
50,000
09/09/05 PURCHASES
CD
CS/1ST BOSTON 3.655%
10/11/05
3.650
15,000
CD
CS/1ST BOSTON 3.655%
10/11/05
3.650
50,000
CP
DEERE
10/11/05
3.700
20,000
CP
NCAT
10/11/05
3.650
5,000
CP
NCAT
10/11/05
3.650
50,000
CP
SARA LEE
10/11/05
3.670
25,000
CP
TEXT FIN
10/14/05
3.700
35,000
F
POOLED MONEYINVESTMENT' ACCOUNT
dl
a/
a/ MATURITY TRANS
PAR
DAYS
AMOUNT
EFFECTIVE
DATE
TYPE ' DESCRIPTION
DATE
YIELD +
000
HELD
EARNED
YIELD
09/12/05
REDEMPTIONS
CD W/F
3.500%
09/12/05
3.500
25,000
18
43,750.00
3.549
CD W/F
3.500%
09/12/05
3.500
50,000
18
87,500.00
3.549
CD W/F
3.500%
09/12/05
3.500
50,000
18
87,500.00
3.549
MTN DUPONT
6.600%
09/12/05
1.921
26,000
909
1,324,960.00
1.844
09/12/05
PURCHASES
CID KITTY HAWK
10/12/05
3.670
43,069
CID KITTY HAWK
10/12/05
3.670
50,000
CID RANGER
10/13/05
3.670
10,000
CID RANGER
10/13/05
3.670
50,000
09/13/05
NO REDEMPTIONS
09/13/05
PURCHASES
CD RB CANADA
3.905%
02/28/06
3.900
50,000
CD RB CANADA
3.905%
02/28/06
3.900
50,000
09/14/05
NO REDEMPTIONS
09/14/05 PURCHASES
BN
B/A
3.900%
02/28/06
3.900
50,000
BN
B/A
3.900%
02/28/06
3.900
50,000
CD
CALYON
3.905%
02/28/06
3.905
50,000
CD
CALYON
3.905%
02/28/06
3.905
50,000
CD
RABO
3.900%
02/28/06
3.900
50,000
CD
RABO
3.900%
02/28/06
3.900
50,000
CD
RB CANADA
3.910%
02/28/06
3.905
50,000
CD
RB CANADA
3.910%
02/28/06
3.905
50,000
CD
RB CANADA
3.910%
02/28/06
3.905
50,000
CD
UBS
3.905%
02/28/06
3.890
50,000
CD
UBS
3.905%
02/28/06
3.890
50,000
CID
GECC
02/28/06
3.850
50,000
CID
GECC
02/28/06
3.850
50,000
09/15/05 NO REDEMPTIONS
09/15/05 PURCHASES
BN
B/A
3.900%
02/28/06
3.900
50,000
BN
B/A
3.900%
02/28/06
3.900
50,000
BN
B/A
3.900%
02/28/06
3.900
50,000
BN
B/A
3.900%
02/28/06
3.900
50,000
CD
BNP PARIBAS
3.900%
02/28/06
3.900
50,000
CD
BNP PARIBAS
3.900%
02/28/06
3.900
50,000
CD
CS/1ST BOSTON
3.910%
02/28/06
3.910
50,000
CD
CS/1 ST BOSTON
3.910%
02/28/06
3.910
50,000
CD
CS/1 ST BOSTON
3.910%
02/28/06
3.910
50,000
8
POOLED MONEY, INVESTMENTACCOUNT
d/
a/ a/ MATURITY TRANS PAR DAYS AMOUNT EFFECTIVE
DATE TYPE DESCRIPTION DATE YIELD ` 0( 00) HELD EARNED YIELD
09/15/05 PURCHASES (continued)
CD
CS/1 ST BOSTON
3.910%
02/28/06
3.910
50,000
CD
FORTIS
3.910%
02/28/06
3.910
50,000
CD
FORTIS
3.910%
02/28/06
3.910
50,000
CD
FORTIS
3.910%
02/28/06
3.910
50,000
CD
FORTIS
3.910%
02/28/06
3.910
50,000
CD
SVENSKA
3.905%
02/28/06
3.905
50,000
CD
SVENSKA
3.905%
02/28/06
3.905
50,000
CD
SVENSKA
3.905%
02/28/06
3.905
50,000
CD
SVENSKA
3.905%
02/28/06
3.905
50,000
CD
WACHOVIA
3.900%
02/28/06
3.900
50,000
CD
WACHOVIA
3.900%
02/28/06
3.900
50,000
CD
WACHOVIA
3.900%
02/28/06
3.900
50,000
CD
WACHOVIA
3.900%
02/28/06
3.900
50,000
CID
COUNTRY
09/19/05
3.710
50,000
CID
COUNTRY
09/19/05
3.710
50,000
CID
COUNTRY
09/19/05
3.710
50,000
CID
NISSAN
09/19/05
3.700
50,000
CID
GECC
02/14/06
3.850
50,000
CID
GECC
02/14/06
3.850
50,000
CP
GECC
02/14/06
3.850
50,000
CID
GECC
02/14/06
3.850
50,000
CID
GECC
02/21/06
3.850
50,000
CID
GECC
02/21/06
3.850
50,000
CID
GECC
02/21/06
3.850
50,000
CID
GECC
02/21/06
3.850
50,000
CID
GECC
02/21/06
3.850
50,000
CID
GECC
02/21/06
3.850
50,000
CID
GECC
02/21/06
3.850
50,000
CID
GECC
02/21/06
3.850
50,000
09/16/05 RRS
TREAS
BILLS
09/29/05
2.950
50,000
TREAS
BILLS
09/29/05
2.950
50,000
TREAS
BILLS
09/29/05
2.950
50,000
TREAS
BILLS
09/29/05
2.950
50,000
09/16/05 NO REDEMPTIONS
09/16/05 PURCHASES gl
CID
JP MORGAN
09/29/05
3.680
50,000
CID
JP MORGAN
09/29/05
3.680
50,000
CID
JP MORGAN
09/29/05
3.680
50,000
CID
JP MORGAN
09/29/05
3.680
50,000
09/16/05 PURCHASES
CD ABN AMRO 3.910% 02/28/06 3.910 50,000
CD ABN AMRO 3.910% 02/28/06 3.910 50,000
9
POOLED MONEY INVESTMENT ACCOUNT
d/
a/ a/MATURITY TRANS PAR DAYS AMOUNT EFFECTIVE
DATE TYPE QESCRIPTION DATE YIELD 0( 00) HELD EARNED YIELD
09/16/05 PURCHASES (continued)
CD
FORTIS
CD
FORTIS
CD
NOVA SCOT
CD
NOVA SCOT
CD
RB CANADA
CD
RB CANADA
CD
SVENSKA
CD
SVENSKA
09/19/05 REDEMPTIONS
CID
COUNTRY
CID
COUNTRY
CID
COUNTRY
CID
NISSAN
DISC NOTES
FHLMC
DISC NOTES
FHLMC
DISC NOTES
FHLMC
DISC NOTES
FHLMC
09/19/05 PURCHASES
CID
GECC
CID
GECC
CID
GECC
CID
GECC
CID
GECC
CID
GECC
CID
GECC
CID
GECC
CP
GECC
CID
GECC
CID
MORG STAN
CID
MORG STAN
CID
MORG STAN
CP
MORG STAN
CID
MORG STAN
CID
MORG STAN
CID
FCAR
CID
FCAR
CID
FCAR
CID
FCAR
09/20/05 RRS
TREAS
BILLS
TREAS
BILLS
3.910%
02/28/06
3.910
3.910%
02/28/06
3.910
3.900%
02/28/06
3.900
3.900%
02/28/06
3.900
3.920%
02/28/06
3.910
3.920%
02/28/06
3.910
3.915%
02/28/06
3.915
3.915%
02/28/06
3.915
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
09/19/05
3.710
50,000
4
20,611.11
3.763
09/19/05
3.710
50,000
4
20,611.11
3.763
09/19/05
3.710
50,000
4
20,611.11
3.763
09/19/05
3.700
50,000
4
20,555.56
3.753
09/19/05
3.090
50,000
143
613,708.33
3.172
09/19/05
3.090
50,000
143
613,708.33
3.172
09/19/05
3.090
50,000
143
613,708.33
3.172
09/19/05
3.090
50,000
143
613,708.33
3.172
10/04/05
3.720
50,000
10/04/05
3.720
50,000
10/04/05
3.720
50,000
10/04/05
3.720
50,000
10/04/05
3.720
50,000
10/04/05
3.720
50,000
10/11/05
3.720
50,000
10/11/05
3.720
50,000
10/11/05
3.720
50,000
10/11/05
3.720
50,000
10/18/05
3.750
50,000
10/18/05
3.750
50,000
10/18/05
3.750
50,000
10/18/05
3.750
50,000
10/19/05
3.750
50,000
10/19/05
3.750
50,000
10/20/05
3.750
50,000
10/20/05
3.750
50,000
10/20/05
3.750
50,000
10/20/05
3.750
50,000
10/27/05 3.000 50,000
10/27/05 3.000 50,000
10
POOLED MONEY INVESTMENT ACCOUNT
A/
a/
a/ MATURITY
TRANS '
PAR
DAYS AMOUNT EFFECTIVE
DATE
TYPE
DESCRIPTION
DATE
YIELD
(0001
HELD EARNED YIELD
09/20/05
REDEMPTIONS
CID
COUNTRY
09/20/05
3.570
50,000
12 59,500.00 3.624
CID
COUNTRY
09/20/05
3.570
50,000
12 59,500.00 3.624
09/20/05
PURCHASES g/
CD
W/F
3.730%
10/06/05
3.730
50,000
CD
W/F
3.730%
10/06/05
3.730
50,000
09/20/05
PURCHASES
CD
WA MU, FA
3.960%
02/28/06
3.960
50,000
CD
WA MU, FA
3.960%
02/28/06
3.960
50,000
09/21/05
NO REDEMPTIONS
09/21/05
PURCHASES
CD
DEXIA
3.985%
02/28/06
3.975
50,000
CD
DEXIA
3.985%
02/28/06
3.975
50,000
CD
RB SCOT
3.970%
02/28/06
3.970
50,000
CD
RB SCOT
3.970%
02/28/06
3.970
50,000
CD
SOC GEN
3.980%
02/28/06
3.980
25,000
CD
SOC GEN
3.980%
02/28/06
3.980
50,000
CD
SOC GEN
3.980%
02/28/06
3.980
50,000
CID
NCAT
02/28/06
3.920
35,000
CID
NCAT
02/28/06
3.920
50,000
CID
NCAT
02/28/06
3.920
50,000
CID
NCAT
02/28/06
3.920
50,000
DISC NOTES
FHLB
02/08/06
3.800
50,000
DISC NOTES
FHLB
02/08/06
3.800
50,000
DISC NOTES
FHLB
02/08/06
3.800
50,000
DISC NOTES
FHLB
02/08/06
3.800
50,000
DISC NOTES
FHLMC
02/28/06
3.800
50,000
DISC NOTES
FHLMC
02/28/06
3.800
50,000
TREAS
BILLS
02/16/06
3.645
50,000
TREAS
BILLS
02/16/06
3.645
50,000
TREAS
BILLS
02/16/06
3.645
50,000
TREAS
BILLS
02/16/06
3.645
50,000
TREAS
BILLS
02/16/06
3.650
50,000
TREAS
BILLS
02/16/06
3.650
50,000
TREAS
BILLS
02/16/06
3.650
50,000
TREAS
BILLS
02/16/06
3.650
50,000
09/22/05
NO REDEMPTIONS
09/22/05
PURCHASES
BN
B/A
3.950%
02/06/06
3.950
50,000
BN
B/A
3.950%
02/06/06
3.950
50,000
11
POOLED MON
DATE
a/
TYPE
DESCRIPTI
09/22/05
PURCHASES (continued)
BN
B/A
BN
B/A
CD
RB CANADA
CD
RB CANADA
CD
TORONTO
CD
TORONTO
CD
CALYON
CD
CALYON
CID
GECC
CID
GECC
CID
GECC
CID
GECC
CID
TOYOTA
CID
TOYOTA
09/23/05
SALES
TREAS
NOTES
TREAS
NOTES
TREAS
NOTES
TREAS
NOTES
09/23/05
NO REDEMPTIONS
09/23/05
NO PURCHASES
09/26/05
SALES
TREAS
BILLS
TREAS
BILLS
TREAS
BILLS
TREAS
BILLS
TREAS
BILLS
TREAS
BILLS
TREAS
BILLS
TREAS
BILLS
09/26/05
NO REDEMPTIONS
09/26/05
PURCHASES
FR
SBA
09/27/05
REDEMPTIONS
CD
W/F
CD
W/F
CD
S-E BANK
CD
S-E BANK
d/
a/ MATURITY TRANS
PAR
DAYS
AMOUNT EFFECTIVE
DATE
YIELD
000
HELD
EARNED YIELD
3.950%
02/06/06
3.950
50,000
3.950%
02/06/06
3.950
50,000
3.955%
02/01/06
3.940
50,000
3.955%
02/01/06
3.940
50,000
3.950%
02/01/06
3.940
50,000
3.950%
02/01/06
3.940
50,000
3.960%
02/06/06
3.960
50,000
3.960%
02/06/06
3.960
50,000
02/01/06
3.870
25,000
02/01/06
3.870
50,000
02/01/06
3.870
50,000
02/01/06
3.870
50,000
02/01/06
3.860
50,000
02/01/06
3.860
50,000
1.625%
09/30/05
3.032
50,000
147
601,722.59 3.006
1.625%
09/30/05
3.032
50,000
147
601,722.59 3.006
1.625%
09/30/05
3.032
50,000
147
601,722.59 3.006
1.625%
09/30/05
3.032
50,000
147
601,722.59 3.006
02/16/06
3.610
50,000
5
32,263.89
4.782
02/16/06
3.610
50,000
5
32,263.89
4.782
02/16/06
3.610
50,000
5
32,263.89
4.782
02/16/06
3.610
50,000
5
32,263.89
4.782
02/16/06
3.610
50,000
5
33,291.69
4.935
02/16/06
3.610
50,000
5
33,291.69
4.935
02/16/06
3.610
50,000
5
33,291.69
4.935
02/16/06
3.610
50,000
5
33,291.69
4.935
3.550% 09/25/30 3.550 9,421
3.600%
09/27/05
3.600
50,000
19
95,000.00
3.650
3.600%
09/27/05
3.600
50,000
19
95,000.00
3.650
3.235%
09/27/05
3.230
50,000
155
695,361.99
3.275
3.235%
09/27/05
3.230
50,000
155
695,361.99
3.275
12
POOLED MONEY INVESTMENT ACCOUNT
d/
a1 a/MATURITY TRANS PAR DAYS AMOUNT EFFECTIVE
BATE TYPE DESCRIPTION DATE YIELD j00 HELD EARNED YIELD
09127/05 PURCHASES
CP
GECC
09/28/05
3.770
50,000
CP
GECC
09/28/05
3.770
50,000
CP
GECC
09/28/05
3.770
50,000
CP
GECC
09/28/05
3.770
50,000
CP
JP MORGAN
09/28/05
3.780
50,000
CP
JP MORGAN
09/28/05
3.780
50,000
CP
MORG STAN
10/04/05
3.800
50,000
CP
MORG STAN
10/05/05
3.800
32,900
CP
MORG STAN
10/05/05
3.800
50,000
CP
MORG STAN
10/05/05
3.800
50,000
CP
MORG STAN
10/06/05
3.800
10,000
CP
MORG STAN
10/06/05
3.800
50,000
CP
MORG STAN
10/06/05
3.800
50,000
CP
MORG STAN
10/07/05
3.800
10,000
CP
MORG STAN
10/07/05
3.800
50,000
CP
MORG STAN
10/07/05
3.800
50,000
09/28/05 REDEMPTIONS
BN
WORLD
3.240%
09/28/05
3.240
50,000
118
531,000.00
3.285
BN
WORLD
3.240%
09/28/05
3.240
50,000
118
531,000.00
3.285
BN
WORLD
3.240%
09/28/05
3.240
50,000
118
531,000.00
3.285
CD
US BANK
3.627%
09/28/05
3.627
50,000
20
100,750.00
3.677
CD
US BANK
3.627%
09/28/05
3.627
50,000
20
100,750.00
3.677
CD
DEXIA
3.340%
09/28/05
3.335
50,000
105
486,361.19
3.381
CD
DEXIA
3.340%
09/28/05
3.335
50,000
105
486,361.19
3.381
CD
ABN AMRO
3.280%
09/28/05
3.280
50,000
127
578,555.56
3.326
CD
ABN AMRO
3.280%
09/28/05
3.280
50,000
127
578,555.56
3.326
CD
RB SCOT
3.220%
09/28/05
3.220
25,000
159
355,541.67
3.265
CD
RB SCOT
3.220%
09/28/05
3.220
50,000
159
711,083.33
3.265
CD
RB SCOT
3.220%
09/28/05
3.220
50,000
159
711,083.33
3.265
CD
RB SCOT
3.220%
09/28/05
3.220
50,000
159
711,083.33
3.265
CD
LLOYDS
3.215%
09/28/05
3.205
50,000
160
712,253.43
3.250
CD
LLOYDS
3.215%
09/28/05
3.205
50,000
160
712,253.43
3.250
CD
LLOYDS
3.210%
09/28/05
3.200
50,000
161
715,587.11
3.244
CD
LLOYDS
3.210%
09/28/05
3.200
50,000
161
715,587.11
3.244
CD
ABN AMRO
3.200%
09/28/05
3.200
50,000
162
720,000.00
3.244
CD
ABN AMRO
3.200%
09/28/05
3.200
50,000
162
720,000.00
3.244
CD
STNRD CH
3.200%
09/28/05
3.200
50,000
162
720,000.00
3.244
CD
STNRD CH
3.200%
09/28/05
3.200
50,000
162
720,000.00
3.244
CD
STNRD CH
3.200%
09/28/05
3.200
50,000
162
720,000.00
3.244
CD
SVENSKA
3.193%
09/28/05
3.190
50,000
162
717,757.96
3.234
CD
SVENSKA
3.193%
09/28/05
3.190
50,000
162
717,757.96
3.234
CD
SVENSKA
3.193%
09/28/05
3.190
50,000
162
717,757.96
3.234
CD
SVENSKA
3.193%
09/28/05
3.190
50,000
162
717,757.96
3.234
CD
UBS
3.200%
09/28/05
3.200
50,000
162
720,000.00
3.244
CD
UBS
3.200%
09/28/05
3.200
50,000
162
720,000.00
3.244
CP
GECC
09/28/05
3.770
50,000
1
5,236.11
3.823
CP
GECC
09/28/05
3.770
50,000
1
5,236.11
3.823
CP
GECC
09/28/05
3.770
50,000
1
5,236.11
3.823
13
POOLED MONEY INVESTMENTACCOUNT
d/
_
a/
a/' MATURITY TRANS
_
PAR
DAYS
AMOUNT
EFFECTIVE
DATE TYPE
DESCRIPTION
DATE
YIELD
(000)
HELD
EARNED
YIELD
09/28/05 REDEMPTIONS (continued)
CP
GECC
09/28/05
3.770
50,000
1
5,236.11
3.823
CP
JP MORGAN
09/28/05
3.780
50,000
1
5,250.00
3.833
CP
JP MORGAN
09/28/05
3.780
50,000
1
5,250.00
3.833
DISC NOTES
FHLMC
09/28/05
3.160
50,000
128
561,777.78
3.240
DISC NOTES
FHLMC
09/28/05
3.160
50,000
128
561,777.78
3.240
09/28/05 PURCHASES
FR
SBA
3.550% 09/25/30
3.550
9,719
09/29/05 SALES
TREAS
BILLS
12/01/05
3.230
50,000
85
376,180.56
3.274
TREAS
BILLS
12/01/05
3.230
50,000
85
376,180.56
3.274
TREAS
BILLS
12/01/05
3.230
50,000
85
376,180.56
3.274
TREAS
BILLS
12/01/05
3.230
50,000
85
376,180.56
3.274
TREAS
BILLS
12/01/05
3.230
50,000
85
376,180.56
3.274
TREAS
BILLS
12/01/05
3.230
50,000
85
376,180.56
3.274
09/29/05 REDEMPTIONS
CD
TORONTO
3.230%
09/29/05
3.230
50,000
153
686,375.00
3.275
CD
TORONTO
3.230%
09/29/05
3.230
50,000
153
686,375.00
3.275
CD
FORTIS
3.240%
09/29/05
3.240
50,000
154
693,000.00
3.285
CD
FORTIS
3.240%
09/29/05
3.240
50,000
154
693,000.00
3.285
CD
MONTREAL
3.208%
09/29/05
3.208
50,000
160
712,777.78
3.252
CD
MONTREAL
3.208%
09/29/05
3.208
50,000
160
712,777.78
3.252
CP
JP MORGAN
09/29/05
3.680
50,000
13
66,444.44
3.736
CP
JP MORGAN
09/29/05
3.680
50,000
13
66,444.44
3.736
CP
JP MORGAN
09/29/05
3.680
50,000
13
66,444.44
3.736
CP
JP MORGAN
09/29/05
3.680
50,000
13
66,444.44
3.736
CP
JP MORGAN
09/29/05
3.580
50,000
20
99,444.44
3.637
CP
JP MORGAN
09/29/05
3.580
50,000
20
99,444.44
3.637
CP
JP MORGAN
09/29/05
3.580
50,000
20
99,444.44
3.637
CP
JP MORGAN
09/29/05
3.580
50,000
20
99,444.44
3.637
CP
JP MORGAN
09/29/05
3.580
50,000
20
99,444.44
3.637
CP
JP MORGAN
09/29/05
3.570
50,000
22
109,083.33
3.627
CP
JP MORGAN
09/29/05
3.570
50,000
22
109,083.33
3.627
CP
JP MORGAN
09/29/05
3.570
50,000
22
109,083.33
3.627
CP
JP MORGAN
09/29/05
3.570
50,000
22
109,083.33
3.627
TREAS
BILLS
09/29/05
3.053
50,000
92
390,041.67
3.119
TREAS
BILLS
09/29/05
3.053
50,000
92
390,041.67
3.119
TREAS
BILLS
09/29/05
3.053
50,000
92
390,041.67
3.119
TREAS
BILLS
09/29/05
3.053
50,000
92
390,041.67
3.119
TREAS
BILLS
09/29/05
3.055
50,000
92
390,361.11
3.122
TREAS
BILLS
09/29/05
3.055
50,000
92
390,361.11
3.122
09/29/05 RRP
TREAS BILLS 09/29/05 2.950 50,000 13-53,183.99 -2.991
14
POOLED MONEY, INVESTMENT ACCOUNT
d/ ;
a/ a/MATURITY TRANS PAR DAYS AMOUNT EFFECTIVE
DATE TYPE DESCRIPTION DATE YIELD (000) HELD '' EARNED YIELD
09/29/05 RRP (continued)
TREAS
BILLS
09/29/05
2.950
50,000
13
-53,183.99
-2.991
TREAS
BILLS
09/29/05
2.950
50,000
13
-53,183.99
-2.991
TREAS
BILLS
09/29/05
2.950
50,000
13
-53,183.99
-2.991
TREAS
BILLS
10/27/05
3.250
50,000
20
-89,871.53
-3.295
TREAS
BILLS
10/27/05
3.250
50,000
20
-89,871.53
-3.295
TREAS
BILLS
10/27/05
3.250
50,000
20
-89,871.53
-3.295
TREAS
BILLS
10/27/05
3.250
50,000
20
-89,871.53
-3.295
TREAS
BILLS
10/27/05
3.250
50,000
20
-89,871.53
-3.295
TREAS
BILLS
10/27/05
3.250
50,000
22
-98,809.03
-3.295
TREAS
BILLS
10/27/05
3.250
50,000
22
-98,809.03
-3.295
TREAS
BILLS
10/27/05
3.250
50,000
22
-98,809.03
-3.295
TREAS
BILLS
10/27/05
3.250
50,000
22
-98,809.03
-3.295
09/29/05 PURCHASES
AGENCY
FHLMC
4.250% 02/28/07
4.330
50,000
CID
COUNTRY
09/30/05
3.820
50,000
CID
COUNTRY
09/30/05
3.820
50,000
CID
COUNTRY
09/30/05
3.820
50,000
CID
COUNTRY
09/30/05
3.820
50,000
CID
COUNTRY
09/30/05
3.820
50,000
CID
COUNTRY
09/30/05
3.820
50,000
CID
BEAR
10/03/05
3.820
50,000
CID
BEAR
10/03/05
3.820
50,000
CID
BEAR
10/03/05
3.820
50,000
CID
BEAR
10/03/05
3.820
50,000
CID
CITIGROUP
10/07/05
3.830
50,000
CID
CITIGROUP
10/07/05
3.830
50,000
09/30/05 REDEMPTIONS
CD
ANZ
3.250%
09/30/05
3.240
50,000
151
679,528.12
3.285
CD
ANZ
3.250%
09/30/05
3.240
50,000
151
679,528.12
3.285
CD
ANZ
3.250%
09/30/05
3.240
50,000
151
679,528.12
3.285
CD
ANZ
3.250%
09/30/05
3.240
50,000
151
679,528.12
3.285
CD
MONTREAL
3.205%
09/30/05
3.205
50,000
162
721,125.00
3.250
CD
MONTREAL
3.205%
09/30/05
3.205
50,000
162
721,125.00
3.250
CID
COUNTRY
09/30/05
3.820
50,000
1
5,305.56
3.873
CID
COUNTRY
09/30/05
3.820
50,000
1
5,305.56
3.873
CID
COUNTRY
09/30/05
3.820
50,000
1
5,305.56
3.873
CID
COUNTRY
09/30/05
3.820
50,000
1
5,305.56
3.873
CID
COUNTRY
09/30/05
3.820
50,000
1
5,305.56
3.873
CID
COUNTRY
09/30/05
3.820
50,000
1
5,305.56
3.873
DISC NOTES
FHLB
09/30/05
3.160
50,000
121
531,055.56
3.238
DISC NOTES
FHLB
09/30/05
3.160
50,000
121
531,055.56
3.238
DISC NOTES
FHLMC
09/30/05
3.100
50,000
154
663,055.56
3.185
DISC NOTES
FHLMC
09/30/05
3.100
50,000
154
663,055.56
3.185
DISC NOTES
FHLMC
09/30/05
3.100
50,000
154
663,055.56
3.185
DISC NOTES
FHLMC
09/30/05
3.100
50,000
154
663,055.56
3.185
DISC NOTES
FHLMC
09/30/05
3.100
50,000
154
663,055.55
3.185
15
POOLED MONEY INVESTMENT ACCOUNT
d/
a/ a/ MATURITY TRANS PAR — DAYS AMOUNT EFFECTIVE
DATE TYPE DESCRIPTION DATE YIEL(0001 HELD EARNED YIELD
09/30/05 REDEMPTIONS (continued)
DISC NOTES
FHLMC
09/30/05
3.100
50,000
154
663,055.55
3.185
TREAS
NOTES
1.625%
09/30/05
3.102
50,000
85
360,570.36
3.102
TREAS
NOTES
1.625%
09/30/05
3.102
50,000
85
360,570.36
3.102
TREAS
NOTES
1.625%
09/30/05
3.102
50,000
85
360,570.36
3.102
TREAS
NOTES
1.625%
09/30/05
3.102
50,000
85
360,570.36
3.102
TREAS
NOTES
1.625%
09/30/05
3.010
50,000
151
618,414.87
3.010
TREAS
NOTES
1.625%
09/30/05
3.010
50,000
151
618,414.87
3.010
TREAS
NOTES
1.625%
09/30/05
3.010
50,000
151
618,414.87
3.010
TREAS
NOTES
1.625%
09/30/05
3.010
50,000
151
618,414.87
3.010
TREAS
NOTES
1.625%
09/30/05
3.063
50,000
164
682,430.41
3.063
TREAS
NOTES
1.625%
09/30/05
3.063
50,000
164
682,430.41
3.063
TREAS
NOTES
1.625%
09/30/05
3.046
50,000
165
682,697.23
3.046
TREAS
NOTES
1.625%
09/30/05
3.046
50,000
165
682,697.23
3.046
09/30/05 PURCHASES
CP
MORG STAN
10/03/05
3.910
50,000
CP
MORG STAN
10/04/05
3.900
19,000
CP
MORG STAN
10/04/05
3.900
50,000
CP
MORG STAN
10/04/05
3.900
50,000
CP
MORG STAN
10/04/05
3.900
50,000
CP
MORG STAN
10/05/05
3.870
50,000
CP
MORG STAN
10/05/05
3.870
50,000
CP
MORG STAN
10/05/05
3.870
50,000
CP
MORG STAN
10/05/05
3.870
50,000
CP
MORG STAN
10/06/05
3.850
50,000
CP
MORG STAN
10/06/05
3.850
50,000
CP
MORG STAN
10/06/05
3.850
50,000
CP
MORG STAN
10/06/05
3.850
50,000
CP
BEAR
10/07/05
3.850
35,000
CP
BEAR
10/07/05
3.850
50,000
CP
BEAR
10/07/05
3.850
50,000
CP
BEAR
10/07/05
3.850
50,000
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 FIR), 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
NAME
ALAMO
Diablo Valley Bank
ALHAMBRA
Omni Bank, NA
Omni Bank, NA
Omni Bank, NA
Omni Bank, NA
Omni Bank, NA
The Bank of East Asia (USA), NA
The Bank of East Asia (USA), NA
The Bank of East Asia (USA), NA
ARROYO GRANDE_
Mid State Bank and Trust
Mid State Bank and Trust
Mid State Bank and Trust
Mid State Bank and Trust
Mid State Bank and Trust
Mid State Bank and Trust
BREA
Pacific Western National Bank
CALABASAS
First Bank of Beverly Hills, FSB
First Bank of Beverly Hills, FSB
First Bank of Beverly Hills, FSB
First Bank of Beverly Hills, FSB
CAMARILLO
First California Bank
First California Bank
First California Bank
First California Bank
TIME DEPOSITS
DEPOSIT PAR MATURITY
DATE YIELD AMOUNT ($) DATE
04/08/05 3.170 4,500,000.00 10/07/05
07/08/05
3.260
4,000,000.00
10/07/05
08/12/05
3.590
2,000,000.00
11/10/05
08/19/05
3.610
4,000,000.00
11/18/05
09/01 /05
3.620
4,000,000.00
12/01 /05
09/09/05
3.520
6,000,000.00
12/09/05
07/14/05
3.260
3,095,000.00
10/13/05
08/11/05
3.860
3,000,000.00
02/09/06
08/17/05
3.890
6,000,000.00
02/16/06
04/13/05
3.170
5,000,000.00
10/12/05
05/18/05
3.160
5,000,000.00
11/16/05
06/10/05
3.170
5,000,000.00
12/09/05
07/14/05
3.510
5,000,000.00
01/12/06
08/10/05
3.860
5,000,000.00
02/08/06
09/08/05
3.700
5,000,000.00
03/09/06
08/03/05 3.780 4,000,000.00 02/01/06
05/05/05
3.220
10,000,000.00
11/03/05
06/01/05
3.180
10,000,000.00
11/30/05
06/15/05
3.210
10,000,000.00
12/14/05
09/01/05
3.840
10,000,000.00
03/02/06
08/17/05
3.580
2,000,000.00
11/16/05
06/22/05
3.230
6,000,000.00
11/16/05
06/03/05
3.160
6,000,000.00
12/02/05
07/27/05
3.720
6,000,000.00
01/25/06
18
NAME
CAMERON PARK
Western Sierra National Bank
Western Sierra National Bank
CARLSBAD
Southwest Community Bank
CHATSWORTH
Premier America Credit Union
Premier America Credit Union
Premier America Credit Union
CHICO
Tri Counties Bank
CITY OF INDUSTRY
EverTrust Bank
EverTrust Bank
EverTrust Bank
CONCORD
Cal State 9 Credit Union
DUBLIN
Operating Engineers Local # 3 FCU
Operating Engineers Local # 3 FCU
Operating Engineers Local # 3 FCU
EL CENTRO
Rabobank
Rabobank
Rabobank
Rabobank
Rabobank
TIME DEPOSITS
DEPOSIT
PAR
MATURITY
DATE YIELD
AMOUNT ($)
DATE
04/06/05 3.130
8,000,000.00
10/05/05
07/13/05 3.480
7,000,000.00
01/11/06
08/31 /05 3.620
07/07/05 3.240
08/05/05 3.560
09/09/05 3.530
5, 000, 000.00 11 /30/05
20, 000, 000.00 10/06/05
20,000,000.00 11 /04/05
20, 000,000.00 12/09/05
09/15/05
3.530
20,000,000.00
12/15/05
07/28/05
3.480
6,000,000.00
10/27/05
08/03/05
3.480
5,000,000.00
11/02/05
06/10/05
3.170
6,000,000.00
12/09/05
08/24/05 3.880 10,000,000.00 02/23/06
04/06/05 3.160 5,000,000.00 10/05/05
06/10/05 3.150 10,000,000.00 12/09/05
08/11/05 3.840 5,000,000.00 02/09/06
07/15/05
3.270
47,500,000.00
10/14/05
07/22/05
3.370
32,500,000.00
10/21/05
08/05/05
3.550
25,000,000.00
11/04/05
09/01/05
3.620
25,000,000.00
12/01/05
07/08/05
3.490
20,000,000.00
01/06/06
19
TIME DEPOSITS
DEPOSIT PAR MATURITY
NAME DATE YIELD AMOUNT ($) DATE
ELSEGUNDO
First Coastal Bank, NA
04/21/05
3.180
2,000,000.00
10/20/05
First Coastal Bank, NA
08/05/05
3.560
3,000,000.00
11/04/05
First Coastal Bank, NA
05/19/05
3.230
2,000,000.00
11/17/05
First Coastal Bank, NA
09/16/05
3.520
5,000,000.00
12/16/05
First Coastal Bank, NA
09/01/05
3.860
2,000,000.00
03/02/06
Xerox Federal Credit Union
05/18/05
3.240
20,000,000.00
11/18/05
Xerox Federal Credit Union
06/02/05
3.190
20,000,000.00
12/02/05
Xerox Federal Credit Union
09/14/05
3.810
7,000,000.00
03/15/06
FAIRFIELD
WestAmerica Bank
07/07/05
3.230
60,000,000.00
10/06/05
WestAmerica Bank
07/15/05
3.270
65,000,000.00
10/14/05
WestAmerica Bank
07/28/05
3.480
5,000,000.00
10/19/05
WestAmerica Bank
07/20/05
3.310
10,000,000.00
10/19/05
WestAmerica Bank
07/22/05
3.370
25,000,000.00
10/21/05
WestAmerica Bank
08/10/05
3.600
5,000,000.00
11/09/05
WestAmerica Bank
08/17/05
3.580
75,000,000.00
11/16/05
FRESNO
United Security Bank 04/20/05 3.170 40,000,000.00 10/19/05
FULLERTON
Fullerton Community Bank, FSB
05/18/05
3.170
9,000,000.00
11/16/05
Fullerton Community Bank, FSB
05/17/05
3.190
10,000,000.00
11/16/05
Fullerton Community Bank, FSB
07/22/05
3.630
8,000,000.00
01/20/06
Fullerton Community Bank, FSB
08/05/05
3.800
5,000,000.00
02/03/06
GOLETA
Pacific Capital Bank, NA
06/08/05
3.170
85,000,000.00
12/07/05
Pacific Capital Bank, NA
09/02/05
3.700
4,500,000.00
02/08/06
Pacific Capital Bank, NA
09/23/05
3.680
5,000,000.00
02/08/06
Pacific Capital Bank, NA
08/10/05
3.840
6,000,000.00
02/08/06
Pacific Capital Bank, NA
09/14/05
3.670
7,000,000.00
02/08/06
Pacific Capital Bank, NA
08/12/05
3.830
72,000,000.00
02/10/06
Pacific Capital Bank, NA
09/08/05
3.660
30,000,000.00
03/09/06
Pacific Capital Bank, NA
09/30/05
3.910
78,000,000.00
03/30/06
20
TIME DEPOSITS
DEPOSIT
PAR
MATURITY
NAME
DATE
YIELD
AMOUNT ($)
DATE
GRANADA HILLS
First State Bank of California
06/02/05
3.180
7,000,000.00
12/01/05
First State Bank of California
06/17/05
3.260
2,000,000.00
12/16/05
First State Bank of California
07/20/05
3.560
3,000,000.00
01/19/06
HAWTHORNE
Western Federal Credit Union
07/22/05
3.380
30,000,000.00
10/21/05
IRVINE
CommerceWest Bank, NA
08/18/05
3.630
500,000.00
11/17/05
CommerceWest Bank, NA
09/30/05
3.540
5,000,000.00
01/06/06
Commercial Capital Bank
07/08/05
3.260
60,000,000.00
10/07/05
Commercial Capital Bank
07/15/05
3.270
105,000,000.00
10/14/05
Commercial Capital Bank
08/17/05
3.570
25,000,000.00
11/16/05
Commercial Capital Bank
08/17/05
3.570
90,000,000.00
11/16/05
Commercial Capital Bank
06/22/05
3.290
11,000,000.00
12/15/05
Commercial Capital Bank
06/16/05
3.240
39,000,000.00
12/15/05
Commercial Capital Bank
09/30/05
3.530
10,000,000.00
01/06/06
LA JOLLA
Silvergate Bank
06/10/05
3.190
5,000,000.00
12/09/05
LIVERMORE
Valley Community Bank
09/16/05
3.780
6,000,000.00
03/17/06
LODI
Farmers & Merchants Bk Cen CA
07/14/05
3.260
35,000,000.00
10/13/05
Farmers & Merchants Bk Cen CA
07/07/05
3.440
25,000,000.00
01/05/06
LOS ANGELES
1 st Century Bank, NA
09/28/05
3.550
10,000,000.00
01/05/06
Broadway Federal Bank, FSB
07/08/05
3.500
2,500,000.00
01/06/06
Broadway Federal Bank, FSB
09/09/05
3.720
3,000,000.00
03/10/06
Cathay Bank
04/07/05
3.180
38,000,000.00
10/06/05
Cathay Bank
04/21/05
3.170
25,000,000.00
10/20/05
Cathay Bank
05/11/05
3.240
25,000,000.00
11/09/05
Cathay Bank
08/17/05
3.570
25,000,000.00
11/16/05
Cathay Bank
05/19/05
3.220
15,000,000.00
11/17/05
21
TIME DEPOSITS
DEPOSIT PAR MATURITY
NAME DATE YIELD AMOUNT ($) DATE
LOS ANGELES (continued
Cathay Bank
06/01/05
3.180
17,000,000.00
11/30/05
Cathay Bank
08/31/05
3.600
25,000,000.00
11/30/05
Cathay Bank
06/09/05
3.160
55,000,000.00
12/08/05
Cathay Bank
09/15/05
3.530
25,000,000.00
12/15/05
Cedars Bank
09/28/05
3.480
10,000,000.00
01/05/06
Cedars Bank
07/13/05
3.500
5,000,000.00
01/11/06
Cedars Bank
08/03/05
3.750
10,000,000.00
02/01/06
Center Bank
06/22/05
3.300
25,000,000.00
12/21/05
Center Bank
07/21/05
3.580
15,000,000.00
01/19/06
Center Bank
09/14/05
3.790
20,000,000.00
03/15/06
Center Bank
09/21/05
3.850
20,000,000.00
03/22/06
CHB America Bank
04/14/05
3.190
4,300,000.00
10/13/05
Citibank (West), FSB
04/07/05
3.180
150,000,000.00
10/06/05
Citibank (West), FSB
07/14/05
3.260
100,000,000.00
10/13/05
Citibank (West), FSB
07/20/05
3.310
100,000,000.00
10/19/05
Citibank (West), FSB
04/27/05
3.200
50,000,000.00
10/26/05
Eastern International Bank
05/04/05
3.220
900,000.00
11/02/05
Eastern International Bank
06/09/05
3.160
1,000,000.00
12/08/05
Far East National Bank
08/03/05
3.520
25,000,000.00
11/02/05
Far East National Bank
08/10/05
3.620
25,000,000.00
11/09/05
Hanmi Bank
07/14/05
3.240
10,000,000.00
10/13/05
Hanmi Bank
08/04/05
3.540
25,000,000.00
11/03/05
Hanmi Bank
06/02/05
3.180
25,000,000.00
12/01/05
Hanmi Bank
06/15/05
3.210
25,000,000.00
12/14/05
Hanmi Bank
07/14/05
3.490
25,000,000.00
01/12/06
Hanmi Bank
07/29/05
3.730
10,000,000.00
01/27/06
Hanmi Bank
08/04/05
3.750
40,000,000.00
02/02/06
Hanmi Bank
09/01/05
3.820
20,000,000.00
03/02/06
Hanmi Bank
09/14/05
3.770
20,000,000.00
03/15/06
Manufacturer's Bank
06/22/05
3.300
25,000,000.00
12/21/05
Manufacturer's Bank
08/18/05
3.850
25,000,000.00
02/16/06
Mellon First Business Bank, NA
07/15/05
3.270
25,000,000.00
10/14/05
Mellon First Business Bank, NA
07/15/05
3.270
50,000,000.00
10/14/05
Mellon First Business Bank, NA
09/15/05
3.530
50,000,000.00
12/15/05
Mirae Bank
04/15/05
3.200
4,000,000.00
10/14/05
Mirae Bank
08/05/05
3.780
3,000,000.00
02/03/06
Mirae Bank
08/24/05
3.880
2,500,000.00
02/23/06
Mirae Bank
09/22/05
3.860
2,500,000.00
03/23/06
Nara Bank, NA
07/14/05
3.280
5,000,000.00
10/20/05
Nara Bank, NA
04/21/05
3.170
25,000,000.00
10/20/05
Nara Bank, NA
05/12/05
3.250
5,000,000.00
11/10/05
Nara Bank, NA
05/19/05
3.220
10,000,000.00
11/17/05
Nara Bank, NA
06/10/05
3.170
10,000,000.00
12/09/05
22
TIME DEPOSITS
DEPOSIT PAR MATURITY
NAME DATE YIELD AMOUNT ($) DATE
LOS ANGELES (continued
Nara Bank, NA
08/03/05
3.780
20,000,000.00
02/01/06
One United Bank
06/08/05
3.170
10,000,000.00
12/07/05
One United Bank
07/14/05
3.530
5,000,000.00
01/12/06
One United Bank
07/14/05
3.530
5,000,000.00
01/12/06
One United Bank
09/22/05
3.890
5,000,000.00
03/23/06
Preferred Bank
08/05/05
3.530
4,000,000.00
11/04/05
Preferred Bank
09/15/05
3.510
20,000,000.00
12/15/05
Preferred Bank
09/16/05
3.480
31,000,000.00
12/15/05
Saehan Bank
08/19/05
3.870
16,000,000.00
02/17/05
State Bank of India (California)
07/07/05
3.250
3,000,000.00
10/06/05
State Bank of India (California)
04/28/05
3.240
3,000,000.00
10/27/05
State Bank of India (California)
08/18/05
3.870
2,000,000.00
02/16/06
Wilshire State Bank
07/15/05
3.250
19,000,000.00
10/14/05
Wilshire State Bank
08/11/05
3.590
8,000,000.00
11/10/05
Wilshire State Bank
06/01/05
3.180
22,000,000.00
11/30/05
Wilshire State Bank
08/31/05
3.600
36,000,000.00
11/30/05
Wilshire State Bank
06/17/05
3.260
3,000,000.00
12/16/05
Wilshire State Bank
09/16/05
3.480
23,000,000.00
12/16/05
MERCED
County Bank
07/15/05
3.270
10,000,000.00
10/14/05
County Bank
09/02/05
3.600
5,000,000.00
12/02/05
County Bank
09/08/05
3.550
10,000,000.00
12/08/05
NATIONAL CITY
Neighborhood National Bank 07/22/05 3.640 2,000,000.00 01/20/06
Neighborhood National Bank 08/03/05 3.790 2,000,000.00 02/01/06
NEWPORT BEACH
Independence Bank
09/23/05
3.510
1,000,000.00
01/05/06
Independence Bank
09/23/05
3.510
1,500,000.00
01/05/06
Orange County Business Bank, NA
07/14/05
3.240
4,000,000.00
10/13/05
Orange County Business Bank, NA
07/28/05
3.480
4,000,000.00
10/27/05
Orange County Business Bank, NA
08/17/05
3.550
4,000,000.00
11/16/05
Orange County Business Bank, NA
09/23/05
3.440
4,000,000.00
12/21/05
Orange County Business Bank, NA
09/28/05
3.500
8,000,000.00
01/05/06
23
NAME
NORTH HIGHLANDS
SAFE Credit Union
SAFE Credit Union
OAKDALE
Oak Valley Community Bank
Oak Valley Community Bank
OAKLAND
TIME DEPOSITS
DEPOSIT
DATE YIELD
07/15/05 3.280
08/12/05 3.600
07/15/05 3.270
09/15/05 3.530
PAR MATURITY
AMOUNT ($) DATE
5,000,000.00 10/14/05
20,000,000.00 11 /10/05
2,500,000.00 10/14/05
3, 500, 000.00 12/ 15/05
Metropolitian Bank
06/02/05
3.180
1,500,000.00
12/01/05
Metropolitian Bank
07/22/05
3.630
1,000,000.00
01/20/06
Metropolitian Bank
07/28/05
3.720
1,500,000.00
01/26/06
Metropolitian Bank
08/25/05
3.850
1,000,000.00
02/23/06
Metropolitian Bank
08/25/05
3.850
1,000,000.00
02/23/06
Metropolitian Bank
09/21/05
3.850
2,000,000.00
03/22/06
ONTARIO
Citizens Business Bank
05/06/05
3.220
30,000,000.00
11/04/05
Citizens Business Bank
09/21/05
3.590
30,000,000.00
12/16/05
Citizens Business Bank
09/30/05
3.530
25,000,000.00
01/06/06
Citizens Business Bank
08/18/05
3.850
30,000,000.00
02/16/06
Citizens Business Bank
09/02/05
3.790
25,000,000.00
03/03/06
PALO ALTO
Greater Bay Bank, NA
04/20/05
3.160
50,000,000.00
10/19/05
Greater Bay Bank, NA
05/12/05
3.250
25,000,000.00
11/10/05
Greater Bay Bank, NA
05/18/05
3.160
33,500,000.00
11/16/05
Greater Bay Bank, NA
05/25/05
3.210
25,000,000.00
11/23/05
Greater Bay Bank, NA
06/01/05
3.180
30,000,000.00
11/30/05
Greater Bay Bank, NA
06/02/05
3.180
25,000,000.00
12/01/05
Greater Bay Bank, NA
06/08/05
3.170
24,000,000.00
12/07/05
Greater Bay Bank, NA
06/09/05
3.160
22,000,000.00
12/08/05
Greater Bay Bank, NA
06/14/05
3.170
30,000,000.00
12/14/05
Greater Bay Bank, NA
07/13/05
3.500
15,000,000.00
01/11/06
Greater Bay Bank, NA
07/13/05
3.500
25,000,000.00
01/11/06
Greater Bay Bank, NA
08/31/05
3.880
25,000,000.00
03/01/06
Greater Bay Bank, NA
09/08/05
3.700
20,000,000.00
03/09/06
Greater Bay Bank, NA
09/08/05
3.700
25,500,000.00
03/09/06
24
TIME DEPOSITS
DEPOSIT
PAR
MATURITY
NAME
DATE
YIELD
AMOUNT ($)
DATE
PALOS VERDES ESTATES
Malaga Bank, FSB
04/07/05
3.180
5,000,000.00
10/06/05
Malaga Bank, FSB
05/11/05
3.240
7,000,000.00
11/09/05
Malaga Bank, FSB
06/15/05
3.210
9,000,000.00
12/14/05
Malaga Bank, FSB
08/05/05
3.800
2,000,000.00
02/03/06
Malaga Bank, FSB
08/19/05
3.870
10,000,000.00
02/17/06
Malaga Bank, FSB
09/02/05
3.790
4,000,000.00
03/03/06
PASADENA
Community Bank
04/07/05
3.180
10,000,000.00
10/06/05
Community Bank
04/13/05
3.170
15,000,000.00
10/12/05
Community Bank
05/05/05
3.220
15,000,000.00
11/03/05
Community Bank
06/15/05
3.210
10,000,000.00
12/14/05
Community Bank
07/08/05
3.500
10,000,000.00
01/06/06
Community Bank
08/03/05
3.790
25,000,000.00
02/01/06
Community Bank
09/14/05
3.800
10,000,000.00
03/15/06
Wescom Credit Union
04/28/05
3.250
25,000,000.00
10/27/05
Wescom Credit Union
08/18/05
3.640
35,000,000.00
11/17/05
Wescom Credit Union
06/22/05
3.320
50,000,000.00
12/21/05
Wescom Credit Union
07/13/05
3.520
25,000,000.00
01/11/06
Wescom Credit Union
07/13/05
3.520
40,000,000.00
01/11/06
Wescom Credit Union
09/16/05
3.800
15,000,000.00
03/17/06
PLACERVILLE
El Dorado Savings Bank
04/29/05
3.390
5,000,000.00
04/28/06
POMONA
PFF Bank and Trust
05/05/05
3.220
20,000,000.00
11/03/05
PFF Bank and Trust
06/08/05
3.170
20,000,000.00
12/07/05
PFF Bank and Trust
07/21/05
3.580
20,000,000.00
01/19/06
PFF Bank and Trust
08/26/05
3.850
20,000,000.00
02/24/06
PFF Bank and Trust
09/02/05
3.790
20,000,000.00
03/03/06
PORTERVILLE
Bank of the Sierra
RANCHO SANTA FE
La Jolla Bank, FSB
La Jolla Bank, FSB
04/21 /05 3.170
08/03/05 3.500
05/05/05 3.200
25
10,000,000.00 10/20/05
25,000,000.00 11 /02/05
20,000,000.00 11/03/05
TIME DEPOSITS
DEPOSIT PAR MATURITY
NAME DATE YIELD AMOUNT ($) DATE
RANCHO SANTA FE (continued
La Jolla Bank, FSB
08/12/05
3.590
15,000,000.00
11/10/05
La Jolla Bank, FSB
08/17/05
3.570
25,000,000.00
11/16/05
La Jolla Bank, FSB
09/01/05
3.620
10,000,000.00
12/01/05
La Jolla Bank, FSB
09/01/05
3.620
25,000,000.00
12/01/05
La Jolla Bank, FSB
09/15/05
3.530
10,000,000.00
12/15/05
La Jolla Bank, FSB
09/22/05
3.660
5,000,000.00
12/16/05
La Jolla Bank, FSB
09/01/05
3.840
10,000,000.00
03/02/06
REDWOOD CITY
Provident Central Credit Union
04/28/05
3.230
20,000,000.00
10/27/05
Provident Central Credit Union
06/02/05
3.180
20,000,000.00
12/01/05
RICHMOND
The
Mechanics
Bank
10/15/04
2.250
10,000,000.00
10/14/05
The
Mechanics
Bank
04/21/05
3.180
10,000,000.00
10/20/05
The
Mechanics
Bank
10/29/04
2.320
10,000,000.00
10/28/05
The
Mechanics
Bank
11/05/04
2.380
10,000,000.00
11/04/05
The
Mechanics
Bank
06/09/05
3.170
10,000,000.00
12/08/05
The
Mechanics
Bank
07/08/05
3.500
10,000,000.00
01/06/06
The
Mechanics
Bank
07/27/05
3.720
20,000,000.00
01/25/06
The
Mechanics
Bank
08/04/05
3.780
10,000,000.00
02/02/06
The
Mechanics
Bank
03/03/05
3.250
10,000,000.00
03/03/06
The
Mechanics
Bank
09/14/05
3.770
10,000,000.00
03/15/06
The
Mechanics
Bank
04/01/05
3.490
10,000,000.00
04/05/06
RIVERSIDE
Provident Savings Bank
04/07/05
3.180
25,000,000.00
10/06/05
Provident Savings Bank
08/03/05
3.780
25,000,000.00
02/01/06
Provident Savings Bank
08/18/05
3.850
25,000,000.00
02/16/06
Provident Savings Bank
09/22/05
3.880
25,000,000.00
03/23/06
ROCKLIN
Five Star Bank
07/27/05
3.400
2,000,000.00
10/26/05
Five Star Bank
09/28/05
3.500
12,000,000.00
01/05/06
Five Star Bank
08/12/05
3.830
3,000,000.00
02/10/06
Five Star Bank
09/15/05
3.740
3,000,000.00
03/16/06
W
TIME DEPOSITS
DEPOSIT
PAR
MATURITY
NAME
DATE
YIELD
AMOUNT ($)
DATE
SACRAMENTO
American River Bank
04/06/05
3.150
1,500,000.00
10/05/05
American River Bank
06/16/05
3.240
1,250,000.00
12/15/05
American River Bank
07/08/05
3.490
1,000,000.00
01/06/06
American River Bank
07/28/05
3.720
1,500,000.00
01/26/06
American River Bank
08/26/05
3.850
2,000,000.00
02/24/06
American River Bank
09/08/05
3.700
1,000,000.00
03/09/06
American River Bank
09/15/05
3.780
1,250,000.00
03/16/06
American River Bank
09/22/05
3.880
2,000,000.00
03/23/06
Bank of Sacramento
05/11/05
3.240
1,500,000.00
11/09/05
Bank of Sacramento
06/01/05
3.180
2,000,000.00
11/30/05
Merchants National Bank of Sacramento
04/13/05
3.170
2,000,000.00
10/12/05
Merchants National Bank of Sacramento
06/22/05
3.300
2,000,000.00
12/21/05
Merchants National Bank of Sacramento
07/21/05
3.580
2,000,000.00
01/19/06
River City Bank
04/06/05
3.160
2,000,000.00
10/05/05
River City Bank
05/26/05
3.240
2,000,000.00
11/23/05
River City Bank
07/29/05
3.750
3,000,000.00
01/27/06
The Golden One Credit Union
08/26/05
3.620
25,000,000.00
11/30/05
U.S. Bank, NA
05/04/05
3.250
75,000,000.00
11/02/05
U.S. Bank, NA
08/19/05
3.610
100,000,000.00
11/18/05
U.S. Bank, NA
05/27/05
3.200
25,000,000.00
11/23/05
U.S. Bank, NA
07/07/05
3.440
100,000,000.00
01/05/06
U.S. Bank, NA
08/11/05
3.860
100,000,000.00
02/09/06
Union Bank of California, NA
06/16/05
3.240
150,000,000.00
12/15/05
Union Bank of California, NA
07/15/05
3.530
175,000,000.00
01/13/06
Union Bank of California, NA
08/04/05
3.770
150,000,000.00
02/02/06
SAN DIEGO
First Future Credit Union
05/27/05
3.200
15,000,000.00
11/23/05
First Future Credit Union
09/02/05
3.790
5,000,000.00
03/03/06
First Future Credit Union
09/02/05
3.790
15,000,000.00
03/03/06
First Future Credit Union
09/14/05
3.790
8,000,000.00
03/15/06
First United Bank
04/14/05
3.210
2,000,000.00
10/13/05
First United Bank
08/12/05
3.850
1,000,000.00
02/10/06
Mission Federal Credit Union
07/14/05
3.270
10,000,000.00
10/13/05
Mission Federal Credit Union
08/31/05
3.890
10,000,000.00
03/01/06
SAN FRANCISCO
America California Bank
07/07/05
3.420
6,000,000.00
01/05/06
America California Bank
09/02/05
3.770
2,000,000.00
03/03/06
Oceanic Bank
09/13/05
3.800
4,000,000.00
09/13/06
Trans Pacific National Bank
04/13/05
3.180
1,000,000.00
10/12/05
27
TIME DEPOSITS
DEPOSIT PAR MATURITY
NAME DATE YIELD AMOUNT ($) DATE
SAN FRANCISCO (continued
Trans Pacific National Bank
08/31/05
3.630
1,000,000.00
11/30/05
Trans Pacific National Bank
09/21/05
3.600
1,000,000.00
12/16/05
Trans Pacific National Bank
08/04/05
3.780
1,000,000.00
02/02/06
Trans Pacific National Bank
09/22/05
3.860
1,000,000.00
03/23/06
United Commercial Bank
07/14/05
3.260
90,000,000.00
10/13/05
United Commercial Bank
07/27/05
3.440
40,000,000.00
10/26/05
United Commercial Bank
08/24/05
3.580
20,000,000.00
11/23/05
United Commercial Bank
06/01/05
3.180
50,000,000.00
11/30/05
United Commercial Bank
06/03/05
3.150
25,000,000.00
12/02/05
United Commercial Bank
06/10/05
3.170
25,000,000.00
12/09/05
United Commercial Bank
06/17/05
3.260
65,000,000.00
12/16/05
United Commercial Bank
07/14/05
3.510
55,000,000.00
01/12/06
SAN JOSE
Comerica Bank
04/08/05
3.150
50,000,000.00
10/07/05
Comerica Bank
04/27/05
3.190
25,000,000.00
10/26/05
Comerica Bank
08/12/05
3.870
25,000,000.00
02/10/06
Meriwest Credit Union
04/13/05
3.180
10,000,000.00
10/12/05
Meriwest Credit Union
07/21/05
3.600
5,000,000.00
01/19/06
Meriwest Credit Union
09/14/05
3.800
5,000,000.00
03/15/06
Santa Clara Co. Federal Credit Union
05/06/05
3.240
5,000,000.00
11/04/05
Santa Clara Co. Federal Credit Union
08/05/05
3.820
7,500,000.00
02/03/06
Santa Clara Co. Federal Credit Union
08/19/05
3.890
5,000,000,00
02/17/06
SAN LUIS OBISPO
First Bank Of San Luis Obispo
07/07/05
3.210
2,000,000.00
10/06/05
Mission Community Bank
04/06/05
3.130
2,500,000.00
10/05/05
Mission Community Bank
04/27/05
3.170
2,500,000.00
10/26/05
Mission Community Bank
06/09/05
3.140
1,000,000.00
12/08/05
Mission Community Bank
09/01/05
3.840
1,000,000.00
03/02/06
San Luis Trust Bank
04/20/05
3.120
1,700,000.00
10/19/05
SAN MARINO
East West Bank
04/13/05
3.170
42,000,000.00
10/12/05
East West Bank
05/06/05
3.220
35,000,000.00
11/04/05
East West Bank
05/11/05
3.240
25,000,000.00
11/09/05
East West Bank
08/18/05
3.620
38,000,000.00
11/17/05
East West Bank
08/24/05
3.580
25,000,000.00
11/23/05
East West Bank
09/09/05
3.520
85,000,000.00
12/09/05
East West Bank
06/15/05
3.210
25,000,000.00
12/14/05
28
TIME DEPOSITS
DEPOSIT
PAR
MATURITY
NAME
DATE
YIELD
AMOUNT ($)
DATE
SAN MARINO (continued)
East West Bank
09/15/05
3.530
25,000,000.00
12/15/05
East West Bank
07/08/05
3.490
50,000,000.00
01/06/06
SANTA ROSA
Summit State Bank
09/21/05
3.590
6,000,000.00
12/16/05
Summit State Bank
06/20/05
3.260
6,000,000.00
12/21/05
Summit State Bank
07/29/05
3.750
4,000,000.00
01/27/06
SONORA
Central California Bank
09/23/05
3.830
5,000,000.00
03/24/06
STOCKTON
Pacific State Bank
04/06/05
3.130
1,000,000.00
10/05/05
Pacific State Bank
07/07/05
3.420
1,000,000.00
01/05/06
Washington Mutual Bank, FA
06/15/05
3.220
45,000,000.00
12/14/05
Washington Mutual Bank, FA
07/21/05
3.590
75,000,000.00
01/19/06
Washington Mutual Bank, FA
08/19/05
3.880
60,000,000.00
02/17/06
TORRANCE
China Trust Bank (USA)
07/15/05
3.280
40,000,000.00
10/14/05
China Trust Bank (USA)
07/22/05
3.380
30,000,000.00
10/21/05
China Trust Bank (USA)
08/12/05
3.600
20,000,000.00
11/10/05
China Trust Bank (USA)
09/09/05
3.530
35,000,000.00
12/09/05
TRACY
Service 1 st Bank
06/16/05
3.240
2,000,000.00
12/15/05
VACAVILLE
Travis Credit Union
06/01/05
3.160
40,000,000.00
11/30/05
WALNUT CREEK
Bank of the West
07/15/05
3.270
134,000,000.00
10/14/05
Bank of the West
07/29/05
3.470
176,500,000.00
10/28/05
Bank of the West
08/19/05
3.610
242,000,000.00
11/18/05
Bank of the West
09/15/05
3.530
82,000,000.00
12/15/05
29
TIME DEPOSITS
DEPOSIT
PAR
MATURITY
NAME
DATE
YIELD
AMOUNT ($)
DATE
WHITTIER
Banco Popular
04/14/05
3.220
24,000,000.00
10/13/05
Banco Popular
07/29/05
3.490
16,000,000.00
10/28/05
Banco Popular
08/17/05
3.590
25,000,000.00
11/16/05
TOTAL TIME DEPOSITS SEPTEMBER
2005
7,475,495,000.00
BANK DEMAND DEPOSITS
September 2005
($ in thousands)
DAILY BALANCES
DAY OF
BALANCES
WARRANTS
MONTH
PER BANKS
OUTSTANDING
1
$ 326,850
$ 6,255,982
2
156,502
6,238,561
3
156,502
6,238,561
4
156,502
6,238,561
5
156,502
6,238,561
6
407,689
5,709,310
7
296,254
5,530,186
8
762,436
5,811,901
9
514,347
5,856,424
10
514,347
5,856,424
11
514,347
5,856,424
12
765,719
5,717,282
13
642,169
5,700,111
14
578,644
5,742,158
15
728,544
6,120,616
16
977,256
6,675,314
17
977,256
6,675,314
18
977,256
6,675,314
19
561,399
6,566,498
20
592,339
6,029,395
21
430,641
6,130,124
22
166,427
6,421,079
23
68,549
6,343,342
24
68,549
6,343,342
25
68,549
6,343,342
26
1,261,825
5,947,121
27
211,206
5,720,552
28
325,417
5,704,575
29
501,708
5,794,215
30
1,111,317
7,017,128
al
AVERAGE DOLLAR DAYS
$ 499,235 -
a/ The prescribed bank balance for September was $497,925. This consisted of
$341,004 in compensating balances for services, balances for uncollected
funds of $158,754 and a deduction of $1,833 for September delayed
deposit credit.
31
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 September 21, 2005, 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. 1675
$ 341,004,000
The active non interest -bearing bank accounts designation constitutes a calendar month average balance. For purposes of
computing the compensating balances, the Treasurer shall exclude from the daily balances any amounts contained therein as
a result of nondelivery of securities purchased for "cash" for the Pooled Money Investment Account and shall adjust for any
deposits not credited by the bank as of the date of deposit. The balances in such accounts may fall below the above amount
provided that the balances computed by dividing the sum of daily balances of that calendar month by the number of days in
the calendar month reasonably approximates that amount. The balances may exceed this amount during heavy collection
periods or in anticipation of large impending warrant presentations to the Treasury, but the balances are to be maintained in
such a manner as to realize the maximum return consistent with safe and prudent treasury management.
2.
In accordance with law, for investment in securities authorized by section 16430, Government Code, or in term interest -
bearing deposits in banks and savings and loan associations as follows:
Time Deposits in
Various Financial
Institutions
In Securities
(sections 16503a
Estimated
From To Transactions
(section 16430)*
and 16602)*
Total
( 1)
09/19/05 09/23/05 $ 1,630,500,000
$ 47,402,605,000
$
7,470,995,000
$
54,873,600,000
(2)
09/26/05 09/30/05 $ 147,700,000
$ 47,550,305,000
$
7,470,995,000
$
55,021,300,000
(3)
10/03/05 10/07/05 $ (2,567,700,000)
$ 44,982,605,000
$
7,470,995,000
$
52,453,600,000
(4)
10/10/05 10/14/05 $ (30,800,000)
$ 44,951,805,000
$
7,470,995,000
$
52,422,800,000
(5)
10/17/05 10/21/05 $ 724,900,000
$ 45,676,705,000
$
7,470,995,000
$
53,147,700,000
From any of the amounts specifically designated above, not more than 30 percent in the aggregate may be invested
in prime commercial paper under section 16430(e), Government Code.
Additional amounts available in treasury trust account and in the Treasury from time to time, in excess of the
amounts and for the same types of investments as specifically designated above.
Provided, that the availability of the amounts shown under paragraph 2 is subject to reduction in the amount by
which the bank accounts under paragraph 1 would otherwise be reduced below the calendar month average balance
of $ 341,004,000.
Dated: September 21, 2005
* Government Code
POOLED MONEY INVESTMENT BOARD:
Chairperson
Member
Member
BOARD MEMBER ITEMS
City Council Joint Meeting
October 25, 2005
Chairman Lewis convened the Investment Advisory Board at 7: 25 PM and called the
roll:
INVESTMENT ADVISORY BOARD ROLL CALL:
PRESENT: Commissioners Deniel, Olander, and Chairman Lewis
ABSENT: Commissioner Moulin
1. DISCUSSION REGARDING A PORTFOLIO MANAGER
Finance Director John Falconer stated the Board would like to discuss the issue
of a portfolio manager. He noted the Council's approval is needed to move
forward with it, and it may require some changes to the City Code.
Mayor Adolph inquired as to what the portfolio manager would do. Mr.
Falconer explained the portfolio manager would have a greater investment
capability than the Finance Director currently has. The portfolio manager would
have to abide by State Code and would be limited in certain areas but would
also be able to invest in areas that the Finance Director cannot.
In response to Council Member Sniff, Chairman Lewis stated the portfolio
manager would be limited by State Code, which doesn't allow real high
investment returns but does allow higher investment returns than the City
currently has. He believes a portion of the City's portfolio should be placed
with a portfolio manager. Mr. Falconer indicated the Board has discussed an
amount of $10 million. He noted the total portfolio is $180 million but
approximately $90 million is in bond proceeds. Chairman Lewis indicated a
portfolio manager will not consider an amount less than $10 million.
Council Member Sniff asked if the City has lost anything with the Finance
Director handling the investments. He also inquired .about the benefit of having
a portfolio manager and what it would cost. Mr. Falconer indicated, "No," but
explained the portfolio manager would have the ability to make greater
investment returns. The benefit depends on the interest rate environment, and
the portfolio manager fee is based on dollars invested.
In response to Mayor Adolph, Commissioner Deniel indicated there are firms
that provide portfolio manager services.
Council Member Henderson asked if the Finance Director is comfortable moving
in this direction, to which he responded that it has a lot to do with the interest
environment. He noted the current six month Treasury Bill rate is at 4% and the
five-year Treasury Note rate is at 4.40%.
City Council Joint Meeting
October 25, 2005
Council Member Sniff stated he believes the current inflation rate is 4.1 %, and
Chairman Lewis indicated it's less.
Council Member Osborne inquired about the current rate of return on the City's
investments. Mr. Falconer indicated, as of September 30, it was 3.2% and the
six month Treasury Bill was about 3.8%, which is 60 base points difference.
Council Member Osborne commented on the period of time the City's portfolio
has performed so far below the T-Bill. He believes the City can raise it's rate of
return for an additional $500,000 a year without a substantial increase in risk.
He noted the City is losing income that it could be making because of the
current strategy. He isn't sure $10 million would be enough to place with a
portfolio manager.
Commissioner Deniel stated she believes Mr. Falconer has done a great job but
is not a professional money manager, and the Board believes the City needs
professional help with its investments. She believes it would be better to go
under the umbrella of a large firm instead of hiring an in-house portfolio
manager. As for the amount, she noted the City could start with $10 million
and adjust the amount as its performance is watched.
Chairman Lewis stated a portfolio manager would manage the City's portfolio
with the same safeguards currently in place.
Commissioner Olander noted a portfolio manager will bring risks because they
will have to be aggressive to out perform the existing investments. He believes
a minimum of 50 basis points will be necessary for a good portfolio manager.
He agrees the City is moving in the direction of needing a money manager but
believes there is a need to move cautiously. He is a little skeptical about
bringing in a money manager at this time.
Mayor Adolph commented on the Wymer situation and the importance of
making sure it doesn't happen again. He indicated he is very conservative but
will trust Mr. Falconer's opinion on whether or not the City needs to do this.
Council Member Osborne stated he agrees Mr. Falconer is doing a great job but
the City is looking at $180 million plus today versus $30 million 10 years ago.
He likes the idea of having a portfolio manager, and noted the City would still be
able to maintain its conservative portfolio but have a portfolio manager that has
more time and tools to manage it. An increase of one point, less any fee, would
mean an increase of $400,000 to $500,000 in revenue without an increase in
risk.
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City Council Joint Meeting
October 25, 2005
Council Member Henderson stated she believes it's a philosophical choice, and
going with a portfolio manager is something she is not comfortable with at this
time. She prefers the Reserve Account being secure, and noted that is why the
investment policy is so tight. She views this as a "crack." The City may get to
the point of having a portfolio manager someday but she doesn't believe it's
there yet.
In response to Council Member Sniff, Commission Deniel stated a portfolio
manager would spend more time on this because that is his job. Chairman
Lewis noted the portfolio manager would be a team of people at a firm that
deals with institutional companies, and not just one person. He referenced RNC
Capital as being a group who manages investments for the City of Santa
Monica. Commissioner Deniel indicated there are no firms in the Valley that
deal with institutional money.
Council Member Sniff asked if the firms ever lose money, and Chairman Lewis
noted the City has unrealized losses but has not incurred a realized or actual
loss.
Council Member Osborne asked if a portfolio manager would be limited to the
City's investment policy. Chairman Lewis stated the portfolio manager wouldn't
be allowed to go to the full State Code. Mr. Falconer noted an example is that
the portfolio manager would be allowed to invest in callable agencies, but the .
Treasurer would not be allowed. The City's investment policy does not allow it
but the State Code does.
Commissioner Olander noted a portfolio manager will not accept the job if his
hands are tied. He must have room to justify his existence.
In response to Council Member Sniff, Chairman Lewis stated the portfolio
manager fee can range between 10-100 basis points, which is one tenth of 1 %
to 1 % of the money being managed. Chairman Lewis confirmed the portfolio
manager is paid whether they do good or not but they make more money if the
portfolio grows, and they don't like losses.
Council Member Henderson stated she realizes the portfolio manager will do the
best they can but tomorrow could be the day it fails, and she doesn't want to
be there when it does.
Council Member Osborne stated the monies will be in Treasury notes and
government secured investments as they are now but the portfolio manager will
have the tools to actively manage the City's portfolio.
10
City Council Joint Meeting
-- October 25, 2005
Commissioner Deniel stated the portfolio manager would still be required to buy
government paper but can buy and sell when he believes it's best. Currently,
Mr. Falconer has to hold investments until they mature.
In response to Council Member Sniff, Mr. Falconer stated he has the authority
to hold investments from two to five years but with the current interest rate
environment, the spread is narrow between six months and five years. He
noted if the five year is 4.40% and the six months is 4%, the 40 basis points
would be taken up with the portfolio manager's fee. He believes it will take a
lot for the money manager to earn the extra income to exceed what he currently
does. He believes there are advantages to having a portfolio manager but now
may not be the most opportune time.
Chairman Lewis noted Mr. Falconer is limited on the investments he can look at.
City Attorney Kathy Jenson noted the Request for Proposal (RFP) lists four
things the portfolio manager could do that the Finance Director cannot do. She
noted an amendment to the City Code would need to be done if an RFP for a
portfolio manager is done. There is an Attorney General opinion that authorizes
a money manager but there are a lot of checks and balances involved. There is
legal authority for doing this but the City needs a system in place because one
of the conditions to doing it is that the Council or the Finance Director has to
remain responsible for the investments. She indicated an ordinance can be
drafted if the Council wishes. Council Member Sniff asked who is responsible
now, to which she responded, "the Finance Director."
Mayor Adolph indicated he doesn't have a problem with drafting an ordinance
when the timing is right.
Council Member Sniff agreed there is no reason to do it now.
Commissioner Deniel stated there is a lead time of about six months to do the
RFP process.
Council Member Henderson suggested looking at it with the Work Plan in July.
Council Member Osborne noted the City is going to continue losing revenue.
It was moved by Commissioners Olander/Deniel to adjourn the Investment
Advisory Board at 8:20 p.m. Motion carried unanimously.
11
City Council Joint Meeting
October 25, 2005
There being no further business, it was moved and seconded by Council Members
Sniff/Osborne to adjourn the City Council meeting at 8:20 p.m. Motion carried
unanimously.
Respectfully submitted by,
"tn ?
Phyllis anIey
Deputy City Clerk and
Be J yer, Executive Secretary
City of La Quinta
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