The URL can be used to link to this page

2006 02 08 IABt a I 1).0. B()\ 1504 78-491) L\ O( i92253 AGENDA INVESTMENT ADVISORY BOARD Study Session Room 78-495 Calle Tampico- La Quinta, CA 92253 February 8, 2006 — 5:30 P.M. I CALL TO ORDER A. Pledge of Allegiance B. Roll Call II APPOINTMENT OF OFFICERS (760) 777-7000 FAX (760) 777-7101 A. Appointment of Investment Advisory Board Chairperson B. Appointment of Investment Advisory Board Vice -Chairperson III PUBLIC COMMENT - (This is the time set aside for public comment on any matter not scheduled on the agenda.) IV CONFIRMATION OF AGENDA V CONSENT CALENDAR A. Approval of Minutes of Meeting on January 11, 2006 for the Investment Advisory Board. VI BUSINESS SESSION A. Transmittal of Treasury Report for December, 2005 B. Consideration of Fiscal Year 2006/07 Investment Policies & Work Plan Items VII CORRESPONDENCE AND WRITTEN MATERIAL A. Month End Cash Report - January 2006 B. Pooled Money Investment Board Reports - November, 2005 C. Desert Sun Investment Advisory Board Notice VIII BOARD MEMBER ITEMS IX ADJOURNMENT INVESTMENT ADVISORY BOARD Business Session: A Meeting Date: February 8, 2006 ITFM TITI F- Transmittal of Treasury Report for December 31, 2005 BACKGROUND: Attached please find the Treasury Report for December 31, 2005. RECOMMENDATION: Review, Receive and File the Treasury Report for December 31, 2005. )John M. Falconer, Finance Director MEMORANDUM TO: La Quinta City Council FROM: John M. Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for December 31, 2005 DATE: January 31, 2006 Attached is the Treasurer's Report for the month ending December 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 Beqinning Purchased Notes Sold/Matured Other Ending Change Cash (3) $ 61,346 (1) $ (518,623) ($457,277) ($518,623) LAIF 19,559,320 3,750,000 (6,100,000) 17,209,320 (2,350,000) US Treasuries (2) 126,921,553 15,209,000 (2) (10,000,000) 69,614 132,200,167 5,278,614 US Gov't Sponsored Enterprises (2) 30,974,281 3,000,000 (2) (4,000,000) (136,724) 29,837,557 (1,136,724) 0 0 Commercial Paper (2) - 0 0 Corporate Notes Mutual Funds - 7,706,813 1 1,984,057 5,722,756 1,984,057 Total $ 185,223,313 1 $ 21,959,000 $ 22,602,680 $ 67,110 $ 184,512,523 $ 710,720 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. 3 John M. Falconer Finance Director/Treasurer 2 Z 200� dto 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. 2 E E - C C C c c C C c C C c m C m C O- (D U O Z O Z O Z O Z O Z O Z O Z O Z O Z X w n C O_ 0) > N c E n iao-o C) m o 0 CJ voi c Vi c O d a @ n o a U U U od Q m N U LL U- 12 m m ci) -0 o N C: Ua (n ca O 0 � c C cn T m m ` � m T E co E 7 X M a� a� a� m T N m N N CD N O N 0 lf7 CO Q) V) O V VV)i p) V) 7 O M N V) E L V) o in c ._• in E ,L.., >` cn C C C c 3 0 0 0 0 2 N a� N an d N a. n>> Z5 ami a° °====_ Q> t o E T N o n o E E E E 0 0 0 0 0 o .- O 0 O 0 a) O .N @ > m to N Un O 0 O 0 O m c E> 0 0 0 0 E ifl O c o O 0 0= 0 C (O m C, 0) a) CT) M c o �_ - Zl eZq (n 4 0 .-. 0 CD o c U W E M Q EA M ER V V O o 0 0 0 7 "0 Q\ a C 000j p O O C O O O O O O M txJ Z 7 .... v °0 O cD C6 N to (n O O C? UO co (D N Vi 0 0 0 0 0 ° O C)O C) CD ° o 0 0 00 0 CDO Q. a O CD O (O O C)O C) CD O 0 C) O O _ O O O O U-) O (O O r M 0 M O O Ef3 O O O O O 0 0 0 0 C 0 C 0 0 C 7 ° \ ° 0 0 0 0 0 d E '� 0 t0 0 O CD 0 0 0 0 0 0 O tO LO C) Z 7 .0 M C) CD C:) CD O 0 0 0 0 O 0 co N N O O O O O 0 C m f0 0 co O O O O O O o O 0 0 o� r o N Q C 70 LL C N O O O O O C O O O O V 00 Z (O O � M L O 0 U3, 0 0 0 0 0 W 0 0 0 0 0 0 0 0 0 0 a C:o ° o ° No o 0 0 0 0 0 0 0 m C N O C)O , o O o O C) C:) CD 0 O `- o O U- - Q O O to O (0 0 0 O O M O O Q M to rfl O O O O O N E O CD CD ° 0 0 0 0 0 0 0 0 0 Q E o 0 0 0 0 0 0 C) OM Z ll .X LO CD (O C)O O O O O O N (D - M M 00 0 0 0 0 0 Q N c 0 a) C N 0 U C O ` O O E am`) 0 _ C) t n E D m m L Z m J a),( N CO cn OU O = LL To cZLL- N Q U m m C C C to O c C C O LL In 0 m (n 'o N C 'U C d O T .O O L M O> U)(n "0 N _ O O _ C N U in C N 2 O Q U °� m O m Q � a) m m a) a� N m V) m 0 � U U v rn E 0 N N J v o) 'n 0) E L -o c E ._ c o LL m `O � m Q Z LL c�9 N 0 C C `) 3 .c N L = 3 Z to O Y Y 0) (n _0 O N C C= � O 0) m m O LL' C -0 (� �c C m m r m CO 2 E M O c -= c m E ? .0 E U) c c m o O C m 0 2E m� m E a m m a) E E `n u .o J J m a� a) Ec c o - m .a z o a) E m Eo E0 E _>c E 3 > > m o E o a~ci m co c ` E Z=ll=_ E Z � m U (� E N T Q c C (n O @ N m O j E N (0 m m O U O (9 O) Q N C C O Y U 4= I- C7 > -0 -0 -0 -0 O O O L rn O L (n 1 E 0 LL LL U- LL �� p p � W� m C 7D "6 oL U p 0- U J - 0 0 0 0 co fl- (O O CO b (NO N co m co It N rn E E N N o o 0 m Un (n N a)O)CY)� ul uJ u1 E- N N N C O � 7 C C C C C C C .x Q Q Q Un O L Q 0) C cm C LL Y c c m � T E U C VI O > Q m u) ca m o E 0 a 7 = 2 _- V G o > _ o E of E _T E _T U ° a U(nU0 Y Y` Y ZY Y Y N } } } } } } } > U N N N N N N N Z=) Z Z Z Z Z Z Z Y° o 0 0 0 0 0 0 V) m Y Y Y Y Y Y Y m m m m m m m O (D I- 1- O to O M V O U) N T m-- O O U N C M M m co M (`") V � O O� (0 O O O O O 0 0 0 C) 0 0 0 - O 01 0 0000 N N 0 N m N N N N E0000 0 0 0 00 a� m Ln Ln v m co 0000000 0000000 O O O O O O O O O O O O O O In M N I- m N - Y Y Y 6 ,C Y Y .Y Y N } } >O- } } } } } } > U N N N U) N N O N UJ ° Z Z Z Z Z Z Z Z Z (° m Y Y Y Y. Y Y Y Y Y mmmmmmmmm 2- o 0 0 a o 0 0 0 0 22 0 0 M L- V N N N N N LID M co V V m }� 'C 7 V V N V M N M (N T m O M IN (D .- O N O U) (p -�6 r- w r- du LV M O � (D C n In � O 0 (D Q) Y00 0 0 0 N 0 0 0 0 N N N N N N N m O U) U) U) Lo �. LID Lo "T m O O 00000 0 0 00 E N N Q O Q co p 0 0 0 0 0 0 0 0 0 0 p 0000000000 00000 O O 00 O p 0 0 0 00 0 00 0 0 O O O O O O O O O O O p 0 0 0 0 0 0 00 0 0 p C) O (n O V (O L1) Lo Lo 00 M N m � a > 60 - (n V _ 0 m M m M �- rn m m o D 0 o o ° M M Ln W M Q1 a1 O O M f� •- 0 0 (D O O O O M N O O Il- O (D I- t- N U) V - C (D N V (D I� (`) o) -- (D _N N IQ) m OO (QD) O) Q) ION N O O O M OVOI'-OIo-(`))� CO 0) co C) M r- 0) I` 07 Y Y 2Q Q 7 m m N r- Lo N r O m DD C V Q V V V V V In m co Z Z > > > 2 > 69 69 EH 69 QQQ (C1) ((o0)000 (D LMn O C,34) O N O) (D V I� V Ln V N O ct O (D N (N/I Z Z Z O 0 0) O a) r- N N O O (D CD N M m J Q Q N p J N c a) cZZ ?Cr) D(D (� D� M N f` t` m � U) M I V O (D O O _O Lr O Ln Oj N In O Ln co C) O O O (D CO O �N In 0o O (D V <r , N U C - - V U C Q _ Q _ 69 Ln N '- f� O (`') (D O r O M CO ID I` N N Q) O N O (D (O N N m O) r- LP M V N C) I M In � N N Q) co V O M V Q) C) - O N O t� C) O C) O N M N o) (D Il m O U') - N N M U') U) O Q) t` O m O 7 O N C) Ln O Ln C) I` '- O o) N Q) N O j"'tN nc v E� 00aivai�vv r v� Q IN Q c 0 0 0 0 0 0 0 o m OLn0000Ln O 76 Ln N V U) 0 0 C) N tt) U7 N Q N N N 0 (n L!') N C C a) N ~ a) > > mCL mp LLJ co L) o Q p p U NLLLL m m LL N LLLLLL LLLL (n N N N N N N C 0 0 0 0 0 0 0 0 0 D 6 LnooLnOLn0oo m �vMoao°�oon U (y N V V V' .- N N _ _ _N N N N O m m m m O O O O O Z Z Z Z Z > > > > Z N N N N N N N N m m m m NHHF-F-HF-F-Hh- U)U)U)U)U)(nfno(n N n T) _ c a c c D C C c C C C C C C c m m m m m m m p m m m m m m m m m w" E E E E E E E (n T- w m w 0 w W M W m� m O0-0 @ Y Y Y Y Y Y E �+ j C N Q O O O O O O o 0 o~ 3 3 3 3 3 3 3 0 (°o a� a3i a3i a3 u>' a3i a� a3i ate' Z Z Z Z Z Z Z U H o Z Z Z Z Z Z Z Z Z o vj C N 0 0 0 0 0 0 0 V! U) 0 0 0 0 0 0 0 0 0 7 > U c c c c c c c = = U @ c c c N N~ ° m m m m m m m m m mmmmmmm m (Da n a E O C O (1 N 4 2 .O - n u c a)co -0Ll E Y E E > u U) J Q v m N > C C C C 73 CO O (n m M. m fn 0 (n r O CO O O O o (D 0 (D m } M M M T m -- � m @mrnOmco C =) O 0 T (D - m Ln (O co 0 0 0 0 O O O T C � J a Ln (n m 0 0 0 N0 M N 0 m E m E V O) j) Q) m Y O O N N N M N O O C1 O O m LL a C p � 0 O C O O O O O O O O �MO O O O O -0_0 N N N N N a7' °O r N 06 O Orr'- �.QQr Q Q Q QQ Q Qa.'�.=• OvooLn N O C O .-- mn�aaa' QQaQQQ�QQOQ o 0 N Q) Q Q L 2 Q LL' cr of cr c L L r N r N r a a 4) ?> V) > N N O �C �C c o o t O O O O O O O O E- C 7 - Q' x m O O 'U co m O m m m CO m m m m U U Cl m 7 _0 CO -_ -_ o CO m C N N m N N N Vl V1 V1 to N C C C) �. C C 7 :3 fn 70000(n (n (n (nC t O 0 0 0 0 0 OD CO O r r N N M (`0 M O 2 S O O m= Q) 0 0 0 0 0 0 0 0 0 N N 69 69 O Lo N O O LO O O O O O O O O O O 0) m r 0) r r r T 7 M N O O N 7 m r r r r r r .- r r r r r r .- r '- r '- Q! o O Q � N O O O O O O LO CO O C f� N In D) (D ' ' ' ' ' ' CO . ' N r (D (D r O) LO rl- N Y7 ao O M N C U C) OO O I, Q C 7 N Cl) (O C11 r m@ O 01 0) C C ` m? N M LO > ' N N y9 1� 69 EA V) V i N CO O C C r cr)N V O N i i i N O - J C- C N @ N N O - J m N C (U C Z)69 � [-2- C C 7 4! a a a a a s a a a a a a a a a a a a Q9 69 QU O O C Cl) Q1 C (n C OD CD O M O 41 O (D r N (D 00 f_ 7 0 Q) O) m 0 0 0 C r C 00 0 N M Em > r N N a 69 in a ) o 0 0 0 LO O O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O 0 0 0 0 0 0 0 0 ( Cy (D LO I- co O m M M M M M M M M M M M M Cl) M M M Cl) Cl) M to In 0 N LO 0 (f) (A 0 N Ln U0 (1') In t!0 «O In M (O Q' C O � In Y C r r Y r r - r r r r r r - r r FD O C] Z Z O C) p C C�pp ( C��C C C ! C(pp C (C�pp C (C�pp c C�pp fCcpp C cCc�� c Ccpp cCcpp C C C U U U U U U U U U U U E E E E E @ T m a�aaaaaaaaaaaaaaaaaaa E E E E E E E E E E E E E E c cO c Vl (/1 In (n In N Ul !n !N N Ul Vl t!1 N N N N !n U1 IN V) CL N N C1 N-o v 2O. N 4. 4. 0_ LL > U 7 N U 7 U L) Q O U Q. LL a (n n- (n d CO (n LL W O_ c v a ' m .- 0_ (n Y c Q)LU'�YU�'UU.LOULU m m C E -U000 rj Y: �. 7 = N ._ 7- a' O N. aU) m Q y Q Y Q Y m m 0] x C Q .y a m Y O. Y C C (. fn LL >. N m L L L 2 @ C C m (n m C m C O] C CO S m m m D m m m @ C> a au!aa¢~ 2< m m m m Y m Y (n (n IQ CO CO mrn(nm �cnm(nC°v!apQQ�� (n Q C Q N N N� T' Q 0 Q m 01 Q m (n Q (n Q ' G ma c c c cm c� c ��Qc�ra�tnQ� Qua m 7 a)aof=��0 m¢ 7 of 0 0w min ,O c C)f0 W cLz ('Oa 0)x Q� O m m m c O U N p Q a O C C .00 T r j U pVj O 2 C Q) O p O p O M M M 0 0 (n', 0 0 N N 0 N p) LL D1 0 N pN O N O U> O O CD O U r O p r N N N a-r o N City of La Quinta Reconciliation of Actual and Surplus Funds City, Redevelopment Agency and Financing Authority December 31. 2005 Balance of Actual Funds 184,512.523 Less Petty cash Funds (1,000) Less Non -Surplus Funds (1,224,303) Balance of Surplus Funds $ 183,287,220 City Cash & Investments Bank ACCOuntS Surplus i Surplus All Funds Surplus Name -Availabilit Surplus T e Book No _ AJ— Wells Fargo -Demand No Checking NoActual % Yes 9 $ (493,009) �=7t $ (493,009) $" 1,717,312 $1,24303Petty Cash - Demand No N/A 1,000- 1,000Wells Fa go/Housing -Demand Yes Checkin 34,732321.000Total-Bank Accounts $(457,277) 2 $ (492,009) $ 1,717,312 $ 1,225,303 0.2478% 0.0189% U. S. Treasury Amortized Surplus Surplus Surplus Surplus All Funds Surplus Custodian - Availability "'q pe Value Yes Ad' Yes No Ad' — No Actual % Yes Bank of New York - Demand ry Bill 8,882,199 8,882,199 8882 199 Bank of New York - Demand Bill 9,850,173 9,850,173 9,850,173 Bank of New York - Demand Bill 4,917,296 4,917,296 4.917,296 Bank of New York - Demand Yes U.S Treasury Bill 9.859,726 9,859,726 9,859,726 Bank of New York - Demand Yes U.S Treasury Note 4,000,000 4,000,000 4,000,000 Bank of New York - Demand Yes U.S Treasury Note 4,999,367 4,999,367 1 4,999,367 Bank of New York - Demand Yes U.S Treasury Note 4,971,567 4,971,567 4,971.567 Bank of New York - Demand Yes U.S. Treasury Note 5,000,728 5,000.728 5,000,728 Bank of New York - Demand Yes U.S. Treasury Note 4,982,227 4,982,227 4 000 227 Total - U.S. Treasury 57,463,283 57,463,283 —"" --- 57,463,283 31.1433 % 31 3515 U. S. Government Sponsored Enterprises Custodian - Availability Su Ius I------ T e Surplus Yes Surplus Surplus Surplus All Funds Surplus Bank of New York -Demand Yes FHLB5 Ad 4,963,815 Yes 4,963,815 No Ad _ No Actual % Yes Bank of New York - Demand Yes FHLB-Discou TAed 2,874,182 2,874,182 Bank of New York - Demand Yes FHLB-Discou1 1,999,511 1,99g 511 Bank of New York - Demand Yes FHL Mortgag7 7,506,367 7,506,367 Bank of New York - Demand Yes FNMA,, 5,014,478 5,014,478 Bank of New York - Demand Yes FHL Mortgage 2.519,283 2,519,283 2,519,283 Bank of New York - Demand --- -- Yes FARM CREDIT 4,959,921 4,959,921 4 95g 921 Total - U.S Government Securities 29,837,557 - -- 29,837,557 - -- ----- _ - -- - ---- - 29,837,557 16 1710/+ 16 2791% Local Agency Investment Fund Name - Availability -S_, llus Type_ Book LAIF - City -Demand Yes _ State Pool 13,541,583 LAIF - RDA - Demand Yes Pool 3,667,737 Total - State Pool _State __ 17,209,--- Surplus Surplus Yes Ad 13,541,583 (1,717,312) 11,24, ,271863,667, ,67,737 (1,717,312) ,Yes 549200817,209,320 1 Surplus Surplus All Funds Surplus No Adj No Actual % Yes -- 9 3269 % 8 4523 Total City Investments 104,510,160 104,510,160 1 (1,717,312)1 102,792,848 56.6412% 56.0829 Total City Cash & Investments 104,052,883 104,544,892 (1,717,312) 102 827.580 (492,009) 1,717,312 1,225,303 56.3934 % 58.1019t Fiscal Agent Investments Portfolio - City Investments I Amortized — Custodian -Availability _ Su17e e Value2002 RDA U.S. Bank-CIP Yu y Bill 10,010,9062004 Finance Authority -CIP `rry Note 29,946,0002004 Finance Authority -CIP Yury Bill 9,917,5422 004 Finance Authorit -CIP Yry Note 24,862,436 Total- U.S. Treasury 74,736,884 Portfolio - Mutual Funds Trustee - Availabilit Surplus Money Market Mutual Fund Book Value Civic Center U.S Bank - Project YE _ 1st American Civic Center U S.Bank - Debt Svc YES 1st American 176 1994 RDA U.S. Bank -Debt Svc YES 1st American 1995 RDA U.S.Bank - CIP YE 1st American 1995 RDA U.S.Bank - Special Fund YE:S 1st American 2004 Fin Auth - 1995 US Bank - Escrow YES 1st American 1998 RDA U.S.Bank - CIP YES 1st American 1998 RDA U.S.Bank - Dbt Svc YES 1st American 1998 RDA U.S.Bank - Special Fund YES 1st American 1998 RDA U.S.Bank - CIP YES 1st American 2001 RDA U.S. Bank - Dbt Svc YES 1st American 2001 RDA U.S. Bank - CIP YES 1st American 2002 RDA U.S. Bank - Dbt Svc YES 1st American 2002 RDA U.S. Bank - CIP YES 1st American 2,182,968 2003 Taxable RDA U.S. Bank - DS YES 1st American 2003 Taxable RDA U. S. Bank -COI YES 1st American 2003 Taxable RDA U. S Bank-CIP YES 1st American 2004 Fin Auth US Bank - CIP YES 1st American 3,539,612 2004 Fin Auth US Bank - COI YES 1st American Subtotal - Mutual Fund 5,722,756 Surplus724,862,436 urplus Surplus Surplus All Funds Surplus Yes Yes No Ad No Actual % Yes 10,010,906,010,906 - 29,946,000,946,000 9,917,542917,542 24,862,436 74,736,884736,884 40 5050% �40 7758% Surplus Yes Ad Surplus Yes 176 176 2,182,968 2,182,968 3,539,612 3,539,612 5,722,756 5,722,756 Total Fiscal Agent Investments F 80,459,640 F 80,459,640 80,459,640 43.6066% 1 43.8981% Grand Total 184,512,5231 185,004,532 T (1,717,312) 183,287,2201 (492,009) 1,717,312 1 1,225,303 1100.0000%1 100.00Oo% no 0 Q U C CO C iL. U U Q a) c Q E Lo E o �. > a N c o (1 O > L O E E 0 0 0 0 0 0 O O O O O O 0 0 0 0 0 0 0 O O O O O O O CO O a a T-- O 00 r- M N 0 0 0 0 0 0 0 0 0 0 0 0 0 CO O CD U') 000000 0000000 co0)N N L O O O LO O O Q O N O N O 0 L 0 0 0 0 0 0 0 O O O N LC) KT O Q N LO O {D N O cD — � ¢i Z LO O M N- m N N O - M Z LO N N co 69 69 T _T 'L O O � L � O O Q) U Q �% co co co CD a) co co Q 0)N LC) z Zc)N(0 cocflI' O a. O r CV N co LC) LO In U') LO LC) CD CD O CD CD LO UD CD0 CD O CD CD CD CD O N N N N N N a) r CD CD O N N N Q m 1� LO NU-) N N ` ca LO LO N Z N N NCN CN CN N N N ' 0 0 0 0 0 0 O M O O O O O O O I` O O O O O 0 0 O N O 0 0 0 0 00 LO 00 O O O O O O O _ CO O O O O O O O O (D _ O O O O O O O W 0 0 0 O O O O V N O CL O O O LC) O O LO = CD O CD CD CD 00 O r' 5 O N O N O LC) a)V 0 0 O N LO O 0)CD r' C Lo O m CN C CV N O r- CO r- N N ti uo i a. CN a .� C C: D C/) D LL (n O LL (Q c (� r . p 0 0 0 C� �= CO 0 0 0 O� Q- W W I Q) Q� U) 0 o o 0 0 D m L O O O O J U O W a W W � O. 06 J �Z E Z f l2 ~ C U- C/ �, Y � �(/) (n In U CQ 1 C/) U) U) Un co U LL U ~ U U) m co C i Q) c U o C -(3 � � O Q) U y ca U Q) N O O O U Q) C� L p . c O Co Z 'a E m cz U n d Z r L 0 (u L a) t O N �' '� �, a) Z cn r E w U) C C v) E c ca u L a Z > 0) L a. t a) 0) L CO N E cn (n U) U W c N _ 06 � �-�-i- � N ) N c a) 0) U) (nn I -Hi— (D 0) HI-i-H LL > a)C> a) N 0 c E Co M U U ULL C E C �UUUU C — p E W +' � d Y i i i �- f- (n lL LL LL y — N d E Y L i i C6 a) (n (� LL LL LL LL E p N d cn (II C > ��(n(nWQQQ O > M rWWUJ000Q �F- O i > c •L O O C Z U»C�JJJ�F- C ZUU' Ur �JJJJ > M CO M(D , M r- (1) V (D O Un c M V M (D N M M M (D v C 0)In M M (n Cl) 3 (V 0)LO M M V 69 Cl) .- N M I � 3 (D to M (D M M m ((D .--- CT)C c) N r (D r N (2 N M 69 U,H 69 69 maornr (nvvr M 00 rnrnro o(n rn(D(Dv rn(D 69 co M r M O uOmtntf) tT0 co Un m UP O EA M N D) �MN00 N D) D) M .� r -It M N M M MO' Cfl O O N N N M M V 69 69 N co r D) , O 0) (D a V Un D) O V-- N .--- M — D) M O (D .--- O (D Ln 4- N r M 'I M (D D) U')'- _ C Un � 00 O V M D M M M M N 00 v r v V N M p (D (n M (D r V U) 'ITm cD Q) O O M N _ Q Q M UO O M Un .- 69 N N N r Q M O O N O N r M M M UO V (_ V n U-) coM M r M M M D) M In M O r N N M V O O r N M r U-) (D N (D 00 V CDN Cn M (O (D Q) 00 O r (D O N V O M (D V vN N N r .0 ` O v l O -T M (D 0) N v V O O M N M (D (D N Un M r M M UA U/3 V3 69 (D N r M O co O_ r MU) .- CO N Un N N M V M CC) CD OD D) O c- N CP D) Q) co a Or(D CO 07 O OD VO a(D(D OM M lL 69 N N N M Un N OM O rl-vMr3NMn 0)M �r Nm0 rQ) M ID M M 69 (fl C) 69 69 69 U')Lo t- Un D) U.) Un Un r M � M r N V m (O C:)- _ _ OUn Or , ON N 7 N r M ) N (D r D) D) O C O U')M O M M N co (n "I- O) O 00 3 cq O N (D to N j c (Q Q) Q) C V M N N D) Q) C y r M m 0 C 4 �- N r M V - (s3 r O r r , (n N r N(D to 69 (n (n M r M 0 M M co V M , M N .- ONO (D (D M r UO E M 0 0 (") N �- Q) E V M V D) O a) r M c) r V r Q) 'E E M (D O r M M Un O N r D) m M p m 0 a) zT N N M r UO Q) N (D N M M 00 a) M Q1 M V V U 69 r N a) Un V U r rn U (D Q1 r N (D 0 MN M E.l3 69 Q N N M EA 0 N M N N 69 (n �rMONUON D1MUnrOM O UO M N N (n r (D V r 0 r 0) UO co M Mr a)M07 O OD O N 0) (p (h (DOM MM N N (O M Q) M NMMO .- O (D N co Ln m co- N O UO V 0) N .- (n ('V 0)00 '- sf r r M N M O(D V( D r O M M M tT LO r M M O O Cl to M M UO N M M N O D N D to r (D N M Q) M (n M O V M O V O .- T M— M 0) (D m Cl) M (D (D Cl) O N M (f) M UO v V co N �p L N (n .- r M (D r 'It r r N N m V (D M a `- Un N r O N (f1 O E Ufa UO O) D) r N N S] E N •- r .- N O Un N M O - O V M (D L E O M M N r N N r r- (D _� M (D 0 M p 0 Un O N M MN�N 00 > ONM r 0 a>)Ot—rl— p M > nNr (n r- O O .-- M M O N O N r N N Z v3 Z.-rnNN O� Z Q r rn M V N co O (V M r (G -n (0 M(D (D (D N N� V N M In O Q) 0) O (D a N O On cn M D CO (O V M r (n h M L O (O � N V rnMv(D Mo O N (D O) � (D O O r O r- V N V (D (n M U N� N (D V ��MQr) O) U V O •- Un M 6(M(TrM rUn co O N M � I,- UDjr(D OONr r .- M d M U (DNr <i M .O a 0(i369O t9 M 0M(DN M O(4 N r M O Nr NM N Q) co V 69 N V 60 (iq N O (N r M r M (D M N .-- M Q) �. (Dr O O N (D M M .--- M M M , r M M M m (O v r C) M (D M r 0 r M r N Q (D C) V r coM N M m C N � M M M m .- N M (T) V L V M N M (n E co O N (D N V O) 0) r M V— r L M V M to M E .- (D(D M V .-- (DQ) U m Q1 M N_ M N tO M co OD M CO. (O Cl) Q) 'J M Q) N t- Q7 a) .- O V .-- (D a V (A O M O N Ln 69 w r UA Q) N CO 69 r 69 Q) .-- (D (N U) EA N ({) M (_ CO CO M r , , O co C) M N N N M I- CD (D r (D M r 0 00 p CC)M � Q) r N V M M , M Q) M C,r <{ (p M D) co cn co M (n c (P 30(n rr (DM cr V M M Lf) tO 3VNLO LO OD C\j M� U> 69 69 C:)M (n CO O O r r 3M MUOM UOM 0)N r V Q (�N v (D N co in O V N O UO 3MM(D0) OM N r C M , :3 -'(D rr rM Q (n N (V M C)69 69 69 N Un 69 69 UO M 't M, , N V O UO M Ln r N O V Un c- tO (`') N co , V rt (D (DOD M"- (D N co Cl) V M UO , MM M M Ln V MC� O O) In N m (p N M (n to LO 7 V U) 00 MN M N 0( U-)00D) r D) I M M C 3Nr-Nr (D V V O O U)M co .- N (D O M O 3vV rr .-a) r M U M N 69�69 M 69 nN n N 69 M f!) '-') NtnN ff) O 69 m y n a N N a) N N N N ck3CL o n c °) 43 a -0 '0 w wl j > C Cc 3 3 C LL LL T C C c� 3 LL U5 3 C C T— LL V C C 3 N N O Q) (f) Q) N O O N N O .0 a) 06 t N O O) 0) U (/) -O E D O -O 0) m LL E O C a O O O) a C O. 0 0 (D C O- O O m L Un (O O U U N D v N ` Q) O LL .0 C C U Q) Q) 3 C -6 L O LL LL 0) Q C w U Q) � C ._ (n O 'O a .N- Z C � CO (D Q C '2 O y Z n a C N�� a C '` y _Z n a C U (n _ a — C ° LL (0 O) 3 C O U C o �� aac uoa)�a)-'a)u C 0) a) 3 °) >U- .L. 3 LL m m E o _m N m a m 00 ma O M CO C3 c:-> c 3 a) E U> Q) U 2 E a27 ( O 3 O C O- (D Y E a `O O n Q Q) C U C Q) C E O Z _E rn E O O O Q) 3 E E Z a _E N ` E N 3` E-0 LL LL UL U Q) � LL a a) � 3 a U Q O E Z O« C 3 .Z « C O (Od O E Q) 3 C O N> EO a) 3 C O U E 3 0 mn oa �oO E ow N�aa .� E .�+ ° > m(�� ucQ) ° °° oaa° ° ov `°LL co v oU OLL fN0 Asa ° °U L o c a E n c N .n Y v cu) (o>-oa a a d a � o '° a t 1- (9 o c °)Ln°) H c� ° o m oNn F c� m v)u w U Y 3a c>� a) m f N C n -- @ C7 r- 07 c > V7 d aa3� m a) o (n 03 C ° O N :9 n ° m Ea�m m N U7 (n .0 ° 3 ° Ea3m y0 (n vi .` O a N° E 3m (O 0 U) .0 7 '-' moo o Uc7c�C7 �OQUJ �Uaw �a �(nF U0-1 u.ao f- U � 00DDa-02r- F c�(n»wU2r-o i- -c 0-1):D � M N r O cc':' Cl) (.O N 00 00 Cl) tD O .-- m04 N Cn (n ao M� O) M M O N Cn Ln (D U-) � � N M Q) a0 M O M i� �� m T O C14 cm) 00 N O (� to M N � T r T Y- N M ti C\ M tD coT CO T M M N N N U-)N T T d C" Co p 00 U) 0 O O ti co CDp NWO O N CC' N C) 00 T o0 r- C) CDO O �{ W fV y N C T V (D cD D O r O ti 07 n co c' C 00 C,) ^ M N DD M ~ O LL O T T V' N E O N LO L( T ti Lr O LO N N N r nj T CD co T N cD co O ti co N O I� (D 1� O O N O 00 O N of Y` CD N N Cl) N `) O nj M N U ?. (TD (D M O T O M N M 00 N M r,r` 00 � O (O M h ti a T (O d t. M 2 o0 r' O r` r 00 O ti a) V O N M O T O LL T (p V (O CJ N a) LO N N M N T N LO O (O CO ~ O O N 6i e0- � fD O (D T (OD o0 R_ ai chore o orno�n M 00 ti ti (D ti a)) `O ClM Q c- V W In OT 't M T to Cl) r- Q) (D co Lo �)_ M C:) M m )f) a, LL � T CJ M (V (Ni M o0 T O Cn O C SOD C', N _ 00 O �t N Oi O (O ti cc:)(C)00 N r` N to '(i' N M f0 ` Cl) C) ti C) 00 lD r' 'IT r 00 T M Cl) Y` d f9 0) co B N to d 'Q LO (f) C O (O 00 I--ti N �! p N d O U 00 (V M CO T .�.. (D a) O M N N(D O o0 Co U-) V `- ( M aJ cD N (C:::)) (D N VI M n n O N O M_ N CD Nt17 N O 'Ili 00 O It O V r` a) N Cl) Cl) ql y c Q~j N O LO O m N O N D O co ON p ti 0) M O M M t0 V M L. O N V N �, � - (V C, O T 00 T T LL LL w O~ �n N 0 LnO )o - N O O C ) Q) ce) O M Cl) Q7 O U) N a0 c) N N M N LO O ch O CJ cD T O O 00 O O m 'ITN 6) 10 Ln C0 00 0 O CCn M � `p C 00 T O) N O N V cn (.,� c)C\4 o� N to - N N M co N 6) T T Ln O O N M N N d' T m COtn LO f- cn r- O T O L r• cD `Q N LO N T _ 'cf L CO O O d' 00 M C( (n '7 Cl) (D W M �0 O N M a00 CA '[f 0) to M ,a QU : M � c) ti h (D (� M N M Cl) .� T OL 00 00 CY) 00 T C-MC\jR T 00 T L C d Ul o C L ~ cn � C C c ca d O ie N N U) 0f C 0) � Lo � O x w O C U IC C C) C U O U U) J n C f0 t U) x C CO 0) U) ai Q ai C) uJ U) m (0 U L CO Cl U 0 a) O) 7 U) m C w U) (o C - N C O LL E O O U K d C C In m CA F- X j _C 06 On Z= 0) U C D c r aa)cz a O D �.� ��W c C > Ya m t U C- C O Q) d c wm aWc L o m 0 x MCO co W V)1],-0 o � Z UN Zrm+ C, C N 00 O co (C O (D 4co O ti O O (D 0LO 0 (C) O T Lo (O 00 ICC)00 M M O M O O LO Lr) L C O O (V O Oq O0 O V M 00 Q Q) Ln M N M (rD OO 0O N T O Ln _ N L6 C, j 00 O N (OD ) 0 O _ N LO N N M O rY C) CD O M N N 0 Lo CD0) M N (V 00 co O p) N O l0 (O O N O M O ti O O 00 M r• r- M N � N M Cn O 00 O O O Go LO r O Q) 0) 00 ON N N LO M 0) N C Q1 L C U co O_ L U @ o E @ O E Z Z c a C C > a �w 14 N o 0 0 o ti @ o 0 0 o O (D N o 0 0 o M o O o 0 0 0 (N o O o 0 0 0 0 (o C Cl) C 0) C) M N C U') .-- 00 N 7(D C m t` N M C,N 73 (D V (D t� C M O O (O N O 7 ti IT ,I-o0 t` C N C)M t- M 0) 7 V C:) O t� ,... (D C o0 CD C) V () C o) Ln r M M m C N M N M N (V '- C)= •- — O O N= 0 0 0 o n o 0 0 0 0 0 @ p (� tpf) (Cl)) M M N @ O V o 0 0 0 0 @ (D M V O It O o a o o N o @ m O co 0) N U7 0 0 0 0 0 @ O O (D U7 (D M LO r M 00 N N N M N _ M t- (n — ti 00 = O .-- •- U) O t` 00 co N r- .-- = N N (O O tl') co V M in 0 0 0 o h o o 0 0 0 0 0 0 0 =0 0 0 0 0)M N (D V O 0) C) Cl) O Cl) LOt ` U) U) M V == `' N M ( f` N M a0 = f- t` 0) 00 = ` U-) C)U0 N a) (n u M to O m n CO Q ` U) ( C)M O CD 0N Q CO 7 to t` 00 1Lo Q Q N N N CO ~ N Q Q O= r- N— N= N to (n co L ` L o o o o U o O a0 t` M U) L ` o 0 0 0 �. O O M \° o 0 o ` o 0 0 0 (� o .- to M 00 00 L o 0 0 0 \ i o 0 0 0 0 (f) O O (D Ui (D L\ o o \° o ` o 0 0 0) N to � a0 @ (D N M @ — (D V 00 = (D (o f` @ to Ui M O ,... O '- @ O ti t` — .- 0) N C) @ N to O) .- M 00 N .- = N N @ 00 CO t- N — m LO <t to V Ui N N N N N '- L o!? L o 0 0 °� O (O N L" 0 L o 0 0 o O D LQ O 00 � (o co M O � ,n o 0 0 0 o m m V O to � m U] t� � O L o 0 o--0 o (D O U') (o M t` � N u) m W U) m L o 0 0 o O o N = (D 00 (D )` � M O O (o .-- �- LLL = N N op co N N N N (y .mod. = O = r' = O '- � N — N (D to (D -It (D p O o 0 0 o O) V O tf) N (D O o 0 0 o O co 00 O t- O (V O o 0 0 0 (� o = O N U) M O O o 0 0 0 o n Co t-- M�� N O o 0 0 0 0 (D M V M N� C Cl) O O O= co C @ O CD C O N '- LO N M N N N C,4 C U) M M O= (O C= 00 M c- = @ N O .-- = N C co UJ Q) N O N= �- = M (D U) M to M p 0 0 0 o a 0 o 0 00 pN 0 0 0 \ 0 0 0 0 ° U Q) M CO U) to M o 0 0 0 o U o 0 0 0 (� to N \ o\ \° o p o 0 0 0 O o M O O t� (D .- \ o\\ \° p o 0 0 0 o @ M O V to d' (o M ao V N o U o 0 o M o O UJ t- 00 V to V m M !� M a0 t� (o Q) - N O- O0 Q (D Lo 7 0) .- U N O co M 00 V (D to (o U) (D m m mM = N N N N — N N — N r- M > o 0 0 0 (°\D 0 > o 0 C o o O M M h 0 > o 0 0 C (°\V p V' 00 W M 00 > 0 0 0 o p o A N O N m O O > o 0 ( 0 Cl)> p (1") O 0) O N M 0 0 0 0 0 p (D N O N V UO p O M LO U) M (,.) r U) to .-- 0) p Z t` V t- CO= O P- Z (D V M O D) ((.) Z M O O N= M Z O t� d' O U) U7 z(0 N(D Cl)D Z (D Cl) M M V (.7 = N N — C) �- r- N r- N N M r- N '-- M (D O U) M M 0 0 0 0 co 0 o 0 0 0 (N C) O r �O Cl) U O 00 (0 �, M lD 'U M O N K U O 00 (I) Q) Q V O O LC) N V U V O t- o t-- m 0 O N (f) O N t- U (o O m M N Q V N M M N to Q M to M t� (LD co M co Cl) M (6 N '- O _= N= N== N �t N CO N M (D (D U) M M f- OD CD to 0 0 0 o ti m f— 00 to @ t- O (0 0) O "'' o 0 0 0 t0 O (D •- O N (o 'IT N O W "'' (D (D O N O (D r (O 0 M O co C) M 0) M N O M V N V M= @ M N M N N to M M M M M M N= N C co M M V (D (D (o cD tD a a o 0 0 o Q) N o 0 o 0 o 7 N N N o 0 0 0 0 7 (n lf7 tf) (D O N o 0 0 0 o C to t- � V! O N o 0 0 0 0 C O O= O O o o -q o N o C M= V7 N (D = CD M .0 �_ M O t` a0 f` (n to t� (D > D (D V' M O r- (MD 7 V N O (D to p a1 N O M to to C V M M N to (D CD (D (D (D > Q N CO N CO (� '- O .- = Q Q p .-- '- Q N N= N Q V co M M V Q to p 0 0 0 o 0 o a ° Cl) 0 0 0 o p o 0 0 0 Cl) O a0 V M o 0 0 0 \ O o 0 0 0 (D N M 00 Co N o 0 0 0 O o 0 0 0� N o M O u7 Cl) t` - 0 0 o 0 0 0 0 0 o m O co 00 O o 0 O o 0 0 o O o r t` co N V M LO t` v (,0 (D r- co to n CO O t� U-) (D t� N (D (D (D tf) 'C Q) _ O O= O C O O t- -C) N= N .- N t� d' LO V (D --) V M� Cl) V M = -) cD cD cD U) M N Cl) N M .-- Or- U N C C O O E E C C N o E E C C O o E E C C N O E E N C C O N E E a C C O N E E a a� N U O U N N > O N > > > (3) C C C WE L C °C L C (n L C N C U) L C0 0) 0)c C) U Q N c N v . �N - a) O QUC '0 > 6 Up (p C p U C O C—(Un > O p@ O U _ aiLQIt O a-Q aQ an—s LLQll� o N D-U-a_iLQ_� o n 0 0 0— j 0 0 0 j O O O j m O O O j co m O O O m > @ O O O m > U) @ C O U7 O (n (n (n m (V C) C) C) 2, � C C C V) (n V) m @ C) C) 01 Z. 'C C C C w U) U) V) @ m C) C) "C C C C C U) N U) C) Q) 'D C C C U) (n U) O) Q) Q1 L C C C T E E E �' '= U) U) 0) 0) Q) C C E E E N_ m E N ` C m' E E E �' E E E E E E o W W W W W W = W W W W W W @ W W W 2 ,2 W W W io d C M Q) Q) 0) L Q) N (9 0) N a)L 4) N N N C 0) (9 N 0) O L 41 N N N U N (9 Q) Q) Q) L 0) N N N U �p (D Q) N L N N N N m (D N N N L G d) - 0 J (d U E O N N C p @@@ O@� @@@ O 7 7 7 @ 7 O 7 O O C o 7 O 7 2 2 LL C C C Q) _O @ N O 7>> (L, C C C x > Q C C C U C C C > Q C C C X> Q QQQ(nQJ C C C j Q QQQ(nQJ C C C N QQQ(nQa x QQQ(nQa U=0 QQQ(nQJ QQQ(nQJ 10 0 Q 0 7�f :D Cf) crj LE M Mu INVESTMENT ADVISORY BOARD Business Session: B Meeting Date: February 8, 2006 TITLE: Consideration of Fiscal Year 2006/07 Investment Policies Investment & Work Plan Items BACKGROUND: Each year at this, time the Investment Advisory Board begins the process of reviewing the investment policy that will be put into place in the next fiscal year beginning July 1st At the June meeting, the City Council Manager, City Attorney and Staff will meet with the Board to discuss the changes, if any. The policy will then be forwarded to the City Council for their consideration. Typically, the Investment Advisory Board Chairman, or designee attends the City Council meeting and is available in the event the City Council has any questions regarding policies. In addition, at the July Investment Advisory Board meeting the following work plan items were discussed and subsequently approved by the City Council in August 2006. • Meeting with City Council to discuss using a Portfolio Manager, which acceptable, would require Ordinance change and a request for proposal for such services; • Continue to monitor developments regarding Government Sponsored Enterprises (GSE's) LAIF, Corporate Note and Commercial Paper and • Discussion of Cash Utilization RECOMMENDATION: Continued review of the Investment policies for approval by City Council in June 2006 ,pnd discussion of work plan items. ohn M. Falconef, Finance Director PLEASE BRING YOUR CURRENT COPY OF THE INVESTMENT POLICY INVESTMENT ADVISORY BOARD Meeting Date: February 8, 2006 TITLE: Month End Cash, Report - January 2006 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. Items to note are as follows: • LA I F rate over 4 % • 6 month T-Bill rate greater than 30 year Note RECOMMENDATION: Information item only. John M. Falconer, Finance Director O 0 c 0 O LL a) () U) r O Q Na) LL (6LC) C_ m O U N d -o Co C J Cl) W o CU O C U 2 co O M c+r') _ 00 r r M CD LO m N IT (D (D @ I� O O C) p O U) O r V p 00 O N 00 M co (D 00 0 0 0 0 0 O N Lo M'T � co 0 0 0 0 c) r N 1-- O (0 6 , O u7 O 0O to M O (V V O O C) C) 0 0 1� O 6) '- p LO N v (D O t` V L � (D O M co M N N� N N Y O >- (n C O O M C) O Cl)M CD O ) (D N IT CD � V (( Cl) O O O O O O nj 00 m M (D g 0 0 0 0 0 V 1` O (o z O N to M O O O O O ('7 M oc — m co � N (D -NCCU') — N O to O tf) CDCD (D O (O CO Q U- V V O O 00 O cli N_ O (7 N O (7 LO M M _ (D O U-) _ O O cli (D LO Cl) 00 �g� 0 C N tO N to N tri Cl)CD `n 0) O V 0) O @ N u- a) O (D V C) (D cct Cl O C)O Occ) O a) r r o 0 CD N V N C (Y) O C) (D CAD (D N LL En 7 N O = (r7 O V O N V to N V L-6 LO C' N O ap Cl N M p O M r- . 0 0 r c0 L6 I N Y LL.0 O Ci I• O co (D C) M C) O rr- C) O N I coa) — L O (D (D C)M 0 to O CO O CD r r v 00 p O Or cn 76 to (6 O U U a3 CO r � p I� Y p (D � O i U � C O m r 22 (9C- CD 0) M V a1f O ((p� U co N 8 a) 0 rn cn _@ _ (6 C m co0 >, (D O C U CO O @ (6 (6 N co ` O L L c6 m Q (L6 N :n 'a p H L— C m L 0)c6 co 0) E m E E Z na (n .T C o 'p 3 m 'D � a .� T 0) Q > U U 'C T C a) oco0 a) co o 0 o co>U e o W Q aQ 0 m o m a) a W -5aUn0z0�LLQ2-)Q o a) r Q7 Q) O 7 N O a) O O X a) a) > M ` C U o N C 3 ((DD o (n cyi N V tLO 'IT n. C M 00 N C) U C L F— N >, � o o � N Cl) (D ( N 6 O O O U 00 a) N (n O 0 a j O Q @ C (n E T o En a) N > tin c O O a) -Cp a) r a) N N w r o O �L. 0 a) (N O LO Z) a) a) ..T1 0 CD `N Op_'C M O O L C6 Q L U F— m 0) U L C fl C �O Co O a .0 n E a) LL CD (D .L L U (0 63 (n U Q L 'C > L t? 6) T U (D (n a) U N L 0 � E oa , o 0 co 0 0 a) Ln ,n C a) Q- E a m > � c (6 O o (D cl E c6 (an O O N c6 O 2 (� N .0 C cn Q cc O OL () U (n CL co -0 CD iii a) O (c) co a: o O o a) Q O_ ch 5 0 a) a) O a) c6 a) .U) v O !Z a) U) N 6) f a) C a N 7 U C N co C D O U c6 a) LC () tT (6 C a) tZ N L 63 O C6 E X a) 6) O E a) O J N a) � C tZ a) U L O � 0 -0 a) U O U O C O o C C 0 L O L 0 � C rn N Q) c6 0) L �6 C U � (6 C (n � C a) a`)) E L � T.0 O <6 C m O "6 7 (0 U E c o •� c w a) c (n � -0 E U C O Q) 0- (U C m U E L 0 a) a> C L a) w c O -0 3 t6 0 c co 2 Phil Angelides, State Treasurer Inside the State Treasurer's Office Local Agency Investment Fund (LAIF) PMIA Performance Report ©ake Mx l Yield rr t fiat Yield Average ; X� .�"(. �j� ►:we din da s� 1 /17/2006 3.95 3.93 187 1/18/2006 3.95 3.93 187 1 /19/2006 3.96 3.93 186 1 /20/2006 3.98 3.93 188 1 /21 /2006 3.98 3.93 188 1/22/2006 3.98 3.94 188 1 /23/2006 3.98 3.94 183 1 /24/2006 3.98 3.94 182 1 /25/2006 3.99 3.94 178 1 /26/2006 3.99 3.94 177 1 /27/2006 3.99 3.95 185 1/28/2006 3.99 3.95 185 1/29/2006 3.99 3.95 185 1 /30/2006 4.01 3.95 178 LAIF Performance Report Quarter ending 12/31/2005 Apportionment Rate: 3.63% Earnings Ratio: .00009940144551024 Fair Value Factor: .997562079 PMIA Average Monthly Effective Yields December 2005 3.808% November 2005 3.636% October 2005 3.458% Pooled Money Investment Account Portfolio Composition $57.7 Billion 12/31 /05 Corporate Bon( 1.63% Commercial Paper 15.72% Time Depi 13.24° Treasuries Loans 6.61% Mortgages CDs/BNs 22.77% Agencies 25.74% 3 Bureau of the Public Debt : Recent Treasury Bill Auction Results Page 1 of Recent Treasury Bill Auction Results Price Term Issue Maturity Discount Investment Per CUSIP Date Date Rate % Rate % $100 28-DAY 02-02-2006 03-02-2006 4.290 4.364 99.666333 912795WR8 91-DAY 02-02-2006 05-04-2006 4.375 4.485 98.894097 912795XA4 182-DAY 02-02-2006 08-03-2006 4.435 4.600 97.757861 912795XP1 28-DAY 01-26-2006 02-23-2006 4.145 4.216 99.677611 912795 WQO 91-DAY 01-26-2006 04-27-2006 4.290 4.397 98.915583 912795WZO 182-DAY 01-26-2006 07-27-2006 4.340 4.499 97.805889 912795XN6 28-DAY 01-19-2006 02-16-2006 3.950 4.017 99.692778 912795 WP2 91-DAY 01-19-2006 04-20-2006 4.270 4.377 98.920639 912795 WY3 1182-DAY 01-19-2006 07-20-2006 4.315 4.472 97.818528 912795XM8 28-DAY 01-12-2006 02-09-2006 4.070 4.140 99.683444 912795 WN7 91-DAY 01-12-2006 04-13-2006 4.150 4.252 98.950972 912795 WX5 1.82-DAY 01-12-2006 07-13-2006 4.250 4.404 97.851389 912795XLO 28-DAY 01-05-2006 02-02-2006 3.965 4.033 99.691611 912795WM9 91-DAY 01-05-2006 04-06-2006 4.070 4.169 98.971194 912795 WW7 182-DAY 01-05-2006 07-06-2006 4.265 4.420 97.843806 912795XK2 14-DAY 01-03-2006 01-17-2006 4.100 4.164 99.840556 912795TR2 28-DAY 12-29-2005 01-26-2006 3.470 3.528 99.730111 912795 WL 1 '91-DAY 12-29-2005 03-30-2006 3.905 3.999 99.012903 912795WV9 182-DAY 12-29-2005 06-29-2006 4.200 4.351 97.876667 912795XJ5 28-DAY 12-22-2005 01-19-2006 3.495 3.553 99.728167 912795 WK3 91-DAY 12-22-2005 03-23-2006 3.895 3.988 99.015431 912795 WU 1 182-DAY 12-22-2005 06-22-2006 4.220 4.372 97.866556 912795XH9 28-DAY 12-15-2005 01-12-2006 3.570 3.630 99.722333 912795WJ6 91-DAY 12-15-2005 03-16-2006 3.820 3.911 99.034389 912795 WT4 182-DAY 12-15-2005 06-15-2006 4.180 4.330 97.886778 912795XG1 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 912795 WG2 91-DAY 12-01-2005 03-02-2006 3.900 3.994 99.014167 912795 WR8 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 912795 WF4 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 912795 WE7 4 http://wwws.publicdebt.treas.gov/AI/OFBills 2/l/2006 Bureau of the Public :Debt : Recent Treasury Bill Auction Results Page 2 of 91-DAY 11-17-2005 02-16-2006 3.910 4.004 99.011639 912795 WP2 182-DAY 11-17-2005 05-18-2006 4.195 4.345 97.879194 912795XCO Effective with the 11 /2/98 auction, all bills are auctioned using the single -priced method. Return to Auction Information Page Privacy_& Security Notices I Terms_& Conditions I Accessibility I Dat_a__Quality Last Updated February 1, 2006 7:57:00 PM EST http://wwws.publicdebt.treas.gov/AI/OFBills 2/1 /2006 FRB:Commercial Paper Rates and Outstandings Page 1 of Federal Reserve Release Commercial Paper Release I About I Outstandings I H_ istorical_discount__r_ates I Historical outstanding_s Data as of January 31, 2006 Commercial Paper Rates and Outstandings Derived from data supplied by The Depository Trust Company Posted February 1, 2006 Discount rates AA AA A2/P2 Term financial nonfinancial nonfinancial 1-day 4.45 L 4.46 4.54 7-day 4.49 E 4.52 4.57 15-day 4.47 E 4.50 4.58 30-day 4.51 E 4.45 4.64 60-day 4.51 E ND 4.64 90-day 4.53 E ND ND Trade data insufficient to support calculation of the 60-day AA nonfinancial, 90-day AA nonfinancial and 90-day A2/P2 nonfinancial rate(s) for January 31, 2006 . Yield curve Money market hasis ...... A2/P2 1 7 15 30 Days to Maturity 60 Pereew .�.-.... 1 4.8 4,6 4,4 90 http://www.federalreserve.gov/Releases/CP/ 2/1&06 FRB:Commercial Paper Rates and Outstandings Page 2 of Discount rate spread Basis points 1 Z" k ) 100 80 60 40 20 0 2001 2(*2 2 M 3 2004 2M5 Discount rate history Thirty -day coax mewial paper (diiily) AZ,/P2 2M 1 2002 2003 2004 2M5 Outstandings Weekly (Wednesday), seasonally adjusted Permit http://www.federalreserve.gov/Releases/CP/ 2/1&06 FRB:Commercial Paper Rates and Outstandings Page 3 of Billion,; ot'r ollars 1570 1540 1510 1480 1450 1420 1390 1360 13310 1300 1270 1240 1210 1180 1150 2i11)1 2{jt)2 FITIZI, cEd 4lcl 2(:1t) 3 2tX14 Billions of dollars 290 2 50 ?�c:1 170 130 2(X) 3 The daily commercial paper release will usually be available before 11:00am 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 2005 :Q4 Release I About I Out -standings I Historical disc__ount rates ( Historical_outstandings Home I Statistical releases Accessibility) Contact Us Last update: February 1, 2006 http://www.federalreserve.gov/Releases/CP/ 2/1 &06 FRB: H.15--Selected Interest Rates, Web -Only Daily Update --February 1, 2006 Page 1 of Federal Reserve Statistical Release H. 15 Selected Interest Rates (Daily) `�!'ip In Content Release Date: February 1, 2006 Weekly release dates and announcements I Historical data I About Daily update Other jbrmats: Screen reader ASCII The weekly release is posted on Monday. Daily updates of the weekly release are posted 'I through Friday on this site. If Monday is a holiday, the weekly release will be posted c 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 SELECTED INTEREST RATES For use at 4:15 p.m. Eastern Time Yields in percen-i per annum February 1, 2006 2006 2006 Instruments Jan Jan 30 31 Federal funds (effective) 1 2 3 4.48 4.47 Commercial Paper 3 4 5 Nonfinancial 1-month 4.49 4.45 2-month n.a. n.a. 3-month n.a. n.a. Financial 1-month 4.47 4.51 2-month 4.51 4.51 3-month 4.55 4.53 CDs (secondary market) 3 6 1-month 4.54 4.54 3-month 4.64 4.64 6-month 4.77 4.76 Eurodollar deposits (London) 3 7 1-month 4.56 4.56 3-month 4.67 4.67 6-month 4.80 4.80 Bank prime loan 2 3 8 7.25 7.50 Discount window primary credit 2 9 5.25 5.50 U.S. government: securities Treasury bills (secondary market) 3 4 4-week 4.08 4.30 3-month 4.38 4.37 6-month 4.45 4.43 Treasury constant maturities Nominal 1.0 1-month 4.18 4.37 3-month 6-month 4.48 4. 62 4.47 4.59 y Vev, fe,_t e_ �0 2/1 &06 http://www.federalreserve.gov/Releases/H 15/update/ FRB: H.15--Selected Interest Rates, Web -Only Daily Update --February 1, 2006 Page 2 of 1-year 4.59 4.58 2-year 4.52 4.54 3-year 4.47 4.49 5-year 4.46 4.47 7-year 4.49 4.49 10-year 4.54 4.53 20-year 11 4.77 4.74 Inflation indexed 12 5-year 1.92 1.89 7-year 1.99 1.95 10-year 2.03 2.00 20-year 2.07 2.02 Inflation -indexed long-term average 13 2.03 1.98 interest rate swaps 14 1-year 4.94 4.93 2-year 4.93 4.91 3-year 4.93 4.91 4-year 4.94 4.93 5-year 4.97 4.95 7-year 5.01 4.99 10-year 5.06 5.04 30-year 5.19 5.17 Corporate bonds Moody's seasoned Aaa 15 5.41 5.39 Baa 6.33 6.31 :Mate & local bonds 16 Conventional mortgages 17 n.a. Not available. Footnotes 1. The daily e=ffective federal funds rate is a weighted average. of rates on brokered tra 2. Weekly figures are averages of 7 calendar days ending on Wednesday of the current wee figures include each calendar day in the month. 3. Annualized using a 360-day year or bank interest. 4. On a discount basis. S. Interest rates interpolated from data on certain commercial paper trades settled by T Depository Trust Company. The trades represent sales of commercial paper by dealers or d issuers to investors (that is, the offer side). The 1-, 2-, and 3-month rates are equiva 30-, 60-, and 90-day dates reported on the Board's Commercial Paper Web page (,www.federalre:3erve.gov/releases/cp/). 6. 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.-char commercial banks. Prime is one of several base rates used by banks to price short-term b loans. 9. The rate charged for discounts made and advances extended under the Federal Reserve's credit discount window program, which became effective January 9, 2003. This rate replac 10 http://www.federalreserve.gov/Releases/HI 5/update/ 2/1 /2006 FRB: H.15--Selected Interest Rates, Web -Only Daily Update --February 1, 2006 Page 3 of adjustment credit, which was discontinued after January 8, 2003. For further information www.federalreserve.gov/boarddocs/press/bcreg/2002/200210312/default.htm. The rate report for the Federal Reserve Bank of New York. Historical series for the rate on adjustment c well 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 maturiti U.S. Treasury. 11. A factor for adjusting the daily nominal 20-year constant maturity in order to estin 30-year nominal rate can be found at www.treas.gov/offices/domestic-finance/debt-management/interest-rate/Itcompositeindex.ht 12. Yields on 'Treasury inflation protected securities (TIPS) adjusted to constant maturi Source: U.S. Treasury. Additional information on both nominal and inflation -indexed yiel found at www.treas.gov/offices/domestic-finance/debt-management/interest-rate/index.html 13. Based on the unweighted average bid yields for all TIPS with remaining terms to matt: 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 rateE at 11:00 a.m. Eastern time by Garban Intercapital plc and published on Reuters Page ISDT ISDAFIX is a registered service mark of ISDA. Source: Reuters Limited. 15. Moody's Aaa rates through December 6, 2001 are averages of Aaa utility and Aaa induE 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: FHLMC Note: Weekly and monthly figures on this release, as well as annual figures available on Board's historical H.15 web site (see below), are averages of business days unless other 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, con Publications Services at the Federal Reserve Board (phone 202-452-3244, fax 202-728-5886 electronic access to current and historical data, call STAT-USA at 1-800-782-8872 or 202 Description of the Treasury Nominal and Inflation -Indexed Constant Maturity Series Yields on Treasury nominal securities at "constant maturity" are interpolated by the U.S from the daily yield curve for non -inflation -indexed Treasury securities. This curve, wh the yield on a security to its time to maturity, is based on the closing market bid yiel 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 Yor constant maturity yield values are read from the yield curve at fixed maturities, Curren and 6 months and 1, 2, 3, 5, 7, 10 and 20 years. This method provides a yield for a 10-y maturity, for example, even if no outstanding security has exactly 10 years remaining to Similarly, yields on inflation -indexed securities at "constant maturity" are interpolate daily yield curve for Treasury inflation protected securities in the over-the-counter ma inflation -indexed constant maturity yields are read from this yield curve at fixed matur currently 5, 7, 10, and 20 years. http://www.federalreserve.gov/Releases/H 15/update/ 2/?/2006 FRB: H.15--Selected Interest Rates, Web -Only Daily Update --February 1, 2006 Page 4 of Weekly release dates and announcements ( Historical data I About Daily update Other f )rmats: Screen reader I ASCII Statistical releases Home I Ccononuc rescarch and data Acecssihility ( Contact Us Last update: February 1, 2006 http://www.federalreserve.gov/Releases/H 15/update/ 2/12 006 O O m O m N C 3 7 U C7 d Q J O l (U E O tco (7) QJ C)U M 0 OD 0) v tH Y E E O U N M C _ N a) C N E > m a N N 49 N N 0 w V) C 16 N E Q c E a) j N o E a C a cn c C L O O 0) Q. > C1 a) L ((pp N U N �o 69 Q > � (D N x O O {- h C) r c) m O j V) T d C Q Cl Z O d i a` a U U O (n = N Of 1 V) C14 (f) N M Wh CDM CD r- U Oi r O) (n CO CD CV O M O V 0) 00 U C O @ 0 CD M O 00 O V O - N to O M (D V U) N T N (U CD C) Co O) � (D d S O O N M O O C)M (D to N ClLO co (D m O V Q7 r O (O (D V O OD O Cl) r- O I.- (D r- O M O F- 00 N M C) M (D O (DO O -0 Cl M OD NU') Uf) N Cl) I- Co O) U co t0 N N (D 7 C) Q � C (U m E U N U .O Q Q CO O) (D 1 r- O) O N CO O e- O C)M (D O V O I- w - N O tl) O CD O CD (D V O N N co O Co ^ 0) O W) N m O 0 N coO M M O COO CD O O N M t` O M m 7 V N N (D Q .- M CD N m U a) 6 z O M M O V O Cl) O O N O M O C) V (D I- CO N O N h CO CD D) M V O r- O O O (M M O V N M O M CD - .-- N M CO O V - N M O O V V .- (D V N (n 1- 00 O O N c O C M O O T (D (D OO � Or- Oct V V O M O M (o N m N CD O m M 00 V N LO N O V 0) Cl) Cl) O N '- C)(D w Cl) CL O CC) v v V M O 0 N M .- N N N O N O m C ? O C E m M C C C (D( m 0) (n i X Co a - N _C Q r �... D U a t N U(� R (DU rn lL E �C a) C 7 m 0 a) x> coC- N O U D °� O a Z y K C d c a) F- d C a> a) cn W a) 7 Q C N N N m N N a) .� M 'O Cl L> orom..m d L xma). m a)0 m aF-cnO w0wOU of z t C O E N Q. . o ar. 0 M � M Z z Z c0 �- W W J }} Z C cn<F- a) ? w w w UJ 0)U 2 U OJ �, w w Q�w�wo aQ� (n N ~UY� U)ui Ye < N J Q O z O 5 co O Z Y wzwC�cAZ�wUXaU w� Q�U�ZpJ�c) w w z F- N N dZ��Q—jM M0>F-Q O a� ww—O?»OOC7w-'XO? z w 0 ocDUUlLmmom WKEO< u- F- 13 INVESTMENT ADVISORY BOARD Correspondence & Written Material Item B Meeting Date: February 8, 2006 TITLE: Pooled Money Investment Board Report for November 2005 BACKGROUND: The Pooled Money Investment Board Report for November 2005 is included in the agenda packet. RECOMMENDATION: Receive & File hn M. Falconer, Finance Director Phil Angelides November 2005 STATE OF CALIFORNIA STATE TREASURER'S OFFICE POOLED MONEY INVESTMENT BOARD REPORT November 2005 TABLE OF CONTENTS SUMMARY................................................................. 01 SELECTED INVESTMENT DATA .................................... 02 PORTFOLIO COMPOSITION ........................................ 03 INVESTMENT TRANSACTIONS ..................................... 04 TIMEDEPOSITS........................................................ 18 BANK DEMAND DEPOSITS .......................................... 30 POOLED MONEY INVESTMENT BOARD DESIGNATION... 31 POOLED MONEY INVESTMENT ACCOUNT SUMMARY OF INVESTMENT DATA A COMPARISON OF NOVEMBER 2005 WITH NOVEMBER 2004 (DOLLARS IN THOUSANDS) NOVEMBER 2005 NOVEMBER 2004 CHANGE` Average Daily Portfolio $ 52,999,227 $ 51,761,375 $ +1,237,852 Accrued Earnings $ 158,379 $ 85,202 $ +73,177 Effective Yield 3.636 2.003 +1.633 Average Life -Month End (In Days) 204 191 +13 Total Security Transactions Amount $ 23,634,276 $ 20,164,724 $ +3,469,552 Number 499 424 +75 Total Time Deposit. Transactions Amount $ 3,478,300 $ 2,205,400 $ +1,272,900 Number 143 94 +49 Average Workday Investment Activity $ 1,426,978 $ 1,177,375 $ +249,603 Prescribed Demand Account Balances For Services $ 304,790 $ 635,442 $ -330,652 For Uncollected Funds $ 169,895 $ 190,413 $ -20,518 1 PHIL ANGELIDES TREASURER STATE OF CALIFORNIA INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) November 30, 2005 DIFFERENCE IN PERCENT OF PERCENT OF PORTFOLIO FROM TYPE OF SECURITY AMOUNT PORTFOLIO PRIOR MONTH Government Bills $ 1,084,383 1.98 -0.10 Bonds 0 0.00 0.00 Notes 2,423,232 4.42 -1.78 Strips 0 0.00 0.00 Total Government $ 3,507,615 6.40 -1.88 Federal Agency Coupons $ 8,630,674 15.74 +0.22 Certificates of Deposit 11,230,123 20.49 +0.10 Bank Notes 1,249,994 2.28 -0.31 Bankers' Acceptances 0 0.00 0.00 Repurchases 0 0.00 0.00 Federal Agency Discount Notes 5,728,659 10.45 +0.56 Time Deposits 7,578,995 13.82 -0.64 GNMAs 262 0.00 0.00 Commercial Paper 7,789,203 14.21 +2.15 FHLMC/Remics 782,344 1.43 +0.55 Corporate Bonds 965,953 1.76 -0.24 AB 55 Loans 7,354,096 13.42 +2.55 GF Loans 0 0.00 -3.44 Reversed Repurchases 0 0.00 -0.38 Total (All Types) $ 54,817,918 100.00 INVESTMENT ACTIVITY Pooled Money Other Time Deposits Totals PMIA Monthly Average Effective Yield Year to Date Yield Last Day of Month NOVEMBER 2005 NUMBER AMOUNT 499 $ 23,634,276 52 1,014,743 143 3,478,300 694 $ 28,127,319 3.636 3.330 E OCTOBER 2005 NUMBER AMOUNT 546 $ 26,231,481 80 652,591 155 4,264,190 781 $ 31,148,262 3.458 3.255 Pooled Money Investment Account Portfolio Composition $54.8 Billion Corporate B+ 1.76%, Commercial Paper 14.21 % Time Del 13.82 11 /30/05 Treasuries Loans 6.40% Mortgages w n Anni 3 CDs/BNs 22.77% Agencies 26.19% 11/01/05 REDEMPTIONS BN WORLD 3.770% 11/01/05 3.770 $50,000 28 $146,611.11 3.822 BN WORLD 3.770% 11/01/05 3.770 50,000 28 146,611.11 3.822 BN WORLD 3.770% 11/01/05 3.770 50,000 28 146,611.11 3.822 BN WORLD 3.770% 11/01/05 3.770 50,000 28 146,611.11 3.822 CD ABN AMRO 3.365% 11/01/05 3.365 50,000 148 691,694.44 3.412 CD SVENSKA 3.375% 11/01/05 3.370 50,000 148 692,736.27 3.417 CD SVENSKA 3.375% 11/01/05 3.370 50,000 148 692,736.27 3.417 CD SOC GEN 3.380% 11/01/05 3.380 50,000 148 694,777.78 3.427 CD SOC GEN 3.380% 11/01/05 3.380 50,000 148 694,777.78 3.427 CP COUNTRY 11/01/05 4.050 45,000 1 5,062.50 4.107 CP COUNTRY 11/01/05 4.050 50,000 1 5,625.00 4.107 CP COUNTRY 11/01/05 4.050 50,000 1 5,625.00 4.107 CP NCAT 11/01/05 4.020 50,000 1 5,583.33 4.076 CP NCAT 11/01/05 4.020 50,000 1 5,583.33 4.076 CP GECC 11/01/05 4.020 50,000 1 5,583.33 4.076 CP GECC 11/01/05 4.020 50,000 1 5,583.33 4.076 CP GECC 11/01/05 4.020 50,000 1 5,583.33 4.076 CP COUNTRY 11/01/05 3.840 26,000 25 69,333.34 3.904 CP COUNTRY 11/01/05 3.840 50,000 25 133,333.35 3.904 CP GECC 11/01/05 3.400 50,000 141 665,833.33 3.494 CP GECC 11/01/05 3.400 50,000 141 665,833.33 3.494 CP GECC 11/01/05 3.400 50,000 141 665,833.33 3.494 DISC NOTES FHLMC 11/01/05 3.300 50,000 144 660,000.00 3.391 DISC NOTES FHLMC 11/01/05 3.300 50,000 144 660,000.00 3.391 DISC NOTES FHLMC 11/01/05 3.300 50,000 144 660,000.00 3.391 DISC NOTES FHLMC 11/01/05 3.300 50,000 144 660,000.00 3.391 DISC NOTES FHLMC 11/01/05 3.310 22,974 145 306,288.09 3.401 DISC NOTES FHLMC 11/01/05 3.310 50,000 145 666,597.22 3.401 DISC NOTES FHLMC 11/01/05 3.310 50,000 145 666,597.22 3.401 DISC NOTES FHLMC 11/01/05 3.260 50,000 147 665,583.33 3.350 DISC NOTES FHLMC 11/01/05 3.260 50,000 147 665,583.33 3.350 DISC NOTES FHLMC 11/01/05 3.260 50,000 147 665,583.33 3.350 DISC NOTES FHLMC 11/01/05 3.260 50,000 147 665,583.33 3.350 DISC NOTES FHLMC 11/01/05 3.260 50,000 147 665,583.33 3.350 DISC NOTES FHLMC 11/01/05 3.260 50,000 147 665,583.33 3.350 DISC NOTES FHLMC 11/01/05 3.290 50,000 147 671,708.33 3.381 DISC NOTES FHLMC 11/01/05 3.290 50,000 147 671,708.33 3.381 DISC NOTES FHLMC 11/01/05 3.290 50,000 147 671,708.33 3.381 DISC NOTES FHLMC 11/01/05 3.290 50,000 147 671,708.33 3.381 MTN GECC 6.800% 11/01/05 2.268 19,650 918 1,192,100.00 2.179 MTN GECC 6.800% 11/01/05 2.882 15,000 1049 1,320,033.33 2.773 MTN GECC 6.800% 11/01/05 3.014 18,750 1058 1,737,660.42 2.904 MTN GECC 6.800% 11/01/05 3.163 10,000 1131 1,040,494.93 3.043 MTN GECC 6.800% 11/01/05 3.171 10,000 1148 1,059,833.33 3.050 MTN GECC 6.800% 11/01/05 4.885 20,000 1299 3,597,177.78 4.773 11/01/05 PURCHASES AGENCY FHLB 4.500% 05/11/07 4.544 50,000 CP GECC 11/02/05 4.010 25,000 4 11/01/05 PURCHASES (continued) CP GECC 11/02/05 4.010 50,000 CP GECC 11/02/05 4.010 50,000 CP GECC 11/02/05 4.010 50,000 CP GECC 11/02/05 4.010 50,000 CP GECC 11/02/05 4.010 50,000 CP COUNTRY 11/02/05 4.050 50,000 CP COUNTRY 11/02/05 4.050 50,000 CP COUNTRY 11/02/05 4.050 50,000 CP COUNTRY 11/02/05 4.050 50,000 CP COUNTRY 11/02/05 4.050 50,000 CP COUNTRY 11/02/05 4.050 50,000 11/02/05 REDEMPTIONS CP GECC 11/02/05 4.010 25,000 1 2,784.72 4.066 CP GECC 11/02/05 4.010 50,000 1 5,569.44 4.066 CP GECC 11/02/05 4.010 50,000 1 5,569.44 4.066 CP GECC 11/02/05 4.010 50,000 1 5,569.44 4.066 CP GECC 11/02/05 4.010 50,000 1 5,569.44 4.066 CP GECC 11/02/05 4.010 50,000 1 5,569.44 4.066 CP COUNTRY 11/02/05 4.050 50,000 1 5,625.00 4.107 CP COUNTRY 11/02/05 4.050 50,000 1 5,625.00 4.107 CP COUNTRY 11/02/05 4.050 50,000 1 5,625.00 4.107 CP COUNTRY 11/02/05 4.050 50,000 1 5,625.00 4.107 CP COUNTRY 11/02/05 4.050 50,000 1 5,625.00 4.107 CP COUNTRY 11/02/05 4.050 50,000 1 5,625.00 4.107 11/02/05 PURCHASES CD ABN AMRO 4.245% 03/01/06 4.245 50,000 CD ABN AMRO 4.245% 03/01/06 4.245 50,000 CD ABN AMRO 4.245% 03/01/06 4.245 50,000 CD RB CANADA 4.250% 03/01/06 4.240 50,000 CD RB CANADA 4.250% 03/01/06 4.240 50,000 CD RB SCOT 4.275% 03/01/06 4.275 50,000 CD RB SCOT 4.275% 03/01/06 4.275 50,000 CD RB SCOT 4.275% 03/01/06 4.275 50,000 CD RB SCOT 4.275% 03/01/06 4.275 50,000 CP NCAT 11/03/05 3.980 50,000 CP NCAT 11/03/05 3.980 50,000 CP NCAT 11/03/05 3.980 50,000 CP NCAT 11/03/05 3.980 50,000 11/03/05 REDEMPTIONS CP NCAT 11/03/05 3.980 50,000 1 5,527.78 4.036 CP NCAT 11/03/05 3.980 50,000 1 5,527.78 4.036 CP NCAT 11/03/05 3.980 50,000 1 5,527.78 4.036 CP NCAT 11/03/05 3.980 50,000 1 5,527.78 4.036 CP MORG STAN 11/03/05 3.800 50,000 29 153,055.56 3.865 5 11/03/05 REDEMPTIONS (continued) CP MORG STAN 11/03/05 3.800 50,000 29 153,055.56 3.865 CP MORG STAN 11/03/05 3.800 50,000 29 153,055.56 3.865 CP MORG STAN 11/03/05 3.800 50,000 29 153,055.56 3.865 11/03/05 RRP TREAS BILLS 12/01/05 3.300 50,000 29 -132,185.63 -3.346 TREAS BILLS 12/01/05 3.300 50,000 29 -132,185.63 -3.346 TREAS BILLS 12/01/05 3.300 50,000 29 -132,185.63 -3.346 TREAS BILLS 12/01/05 3.300 50,000 29 -132,185.63 -3.346 11/03/05 PURCHASES CP NCAT 11/04/05 3.980 50,000 CP NCAT 11/04/05 3.980 50,000 CP NCAT 11/04/05 3.980 50,000 CP NCAT 11/04/05 3.980 50,000 11/04/05 REDEMPTIONS CP NCAT 11/04/05 3.980 50,000 1 5,527.78 4.036 CP NCAT 11/04/05 3.980 50,000 1 5,527.78 4.036 CP NCAT 11/04/05 3.980 50,000 1 5,527.78 4.036 CP NCAT 11/04/05 3.980 50,000 1 5,527.78 4.036 11/04/05 PURCHASES CP NCAT 11/07/05 3.970 25,000 CID NCAT 11/07/05 3.970 50,000 CP NCAT 11/07/05 3.970 50,000 CP NCAT 11/07/05 3.970 50,000 CP NCAT 11/07/05 3.970 50,000 11/07/05 REDEMPTIONS CP NCAT 11/07/05 3.970 25,000 3 8,270.83 4.026 CP NCAT 11/07/05 3.970 50,000 3 16,541.67 4.026 CP NCAT 11/07/05 3.970 50,000 3 16,541.67 4.026 CP NCAT 11/07/05 3.970 50,000 3 16,541.67 4.026 CP NCAT 11/07/05 3.970 50,000 3 16,541.67 4.026 11/07/05 PURCHASES BN WORLD 4.230% 02/16/06 4.240 50,000 BN WORLD 4.230% 02/16/06 4.240 50,000 BN WORLD 4.230% 02/16/06 4.240 50,000 BN WORLD 4.230% 02/16/06 4.240 50,000 CP NCAT 11/08/05 4.000 15,000 CP NCAT 11/08/05 4.000 50,000 CP NCAT 11/08/05 4.000 50,000 6 11/07/05 PURCHASES (continued) CP NCAT 11/08/05 4.000 50,000 CID COUNTRY 11/08/05 4.000 50,000 CID COUNTRY 11/08/05 4.000 50,000 CID FCAR 04/26/06 4.350 35,000 11/08/05 REDEMPTIONS CID NCAT 11/08/05 4.000 15,000 1 1,666.67 4.056 CID NCAT 11/08/05 4.000 50,000 1 5,555.56 4.056 CID NCAT 11/08/05 4.000 50,000 1 5,555.56 4.056 CID NCAT 11/08/05 4.000 50,000 1 5,555.56 4.056 CID COUNTRY 11/08/05 4.000 50,000 1 5,555.56 4.056 CID COUNTRY 11/08/05 4.000 50,000 1 5,555.56 4.056 DISC NOTES FHLMC 11/08/05 3.300 50,000 152 696,666.67 3.393 DISC NOTES FHLMC 11/08/05 3.300 50,000 152 696,666.67 3.393 11/08/05 NO PURCHASES 11/09/05 NO REDEMPTIONS 11/09/05 PURCHASES CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID COUNTRY 12/12/05 4.050 50,000 CID SARA LEE 12/12/05 4.100 50,000 11/10/05 NO REDEMPTIONS 11/10/05 PURCHASES AGENCY FHLB 2.625% 10/16/06 4.650 25,000 AGENCY FHLB 3.875% 12/20/06 4.640 50,000 AGENCY FHLB 3.875% 12/20/06 4.640 50,000 AGENCY FHLMC 2.750% 10/15/06 4.636 43,000 AGENCY FHLMC 2.750% 10/15/06 4.636 50,000 AGENCY FHLMC 2.750% 10/15/06 4.650 50,000 AGENCY FHLMC 3.750% 11/15/06 4.650 7,000 AGENCY FHLMC 3.750% 11/15/06 4.650 50,000 AGENCY FHLMC 2.875% 12/15/06 4.651 16,000 AGENCY FHLMC 2.875% 12/15/06 4.643 50,000 AGENCY FHLMC 2.875% 12/15/06 4.643 50,000 AGENCY FHLMC 2.875% 12/15/06 4.651 50,000 AGENCY FHLMC 3.800% 12/27/06 4.650 30,000 AGENCY FHLMC 3.800% 12/27/06 4.650 50,000 AGENCY FHLMC 3.800% 12/27/06 4.650 50,000 AGENCY FHLMC 3.800% 12/27/06 4.650 50,000 CD SOC GEN 4.000% 11/28/05 4.000 10,000 CD SOC GEN 4.000% 11/28/05 4.000 50,000 7 11/10/05 PURCHASES (continued) CD SOC GEN 4.0000/. 11/28/05 4.000 50,000 CD ANZ 4.380% 04/10/06 4.380 50,000 CD ANZ 4.380% 04/10/06 4.380 50,000 CD FORTIS 4.390% 04/10/06 4.390 50,000 CD UBS 4.380% 04/10/06 4.380 50,000 CD UBS 4.380% 04/10/06 4.380 50,000 CD VVACHOVIA 4.380% 04/26/06 4.380 50,000 CD VVACHOVIA 4.380% 04/26/06 4.380 50,000 CD SVENSKA 4.405% 04/26/06 4.400 50,000 CD S;VENSKA 4.405% 04/26/06 4.400 50,000 CD ANZ 4.410% 04/26/06 4.400 50,000 CD ANZ 4.410% 04/26/06 4.400 50,000 CD RB CANADA 4.410% 04/26/06 4.405 50,000 CD RB SCOT 4.410% 04/26/06 4.410 50,000 CD RB SCOT 4.410% 04/26/06 4.410 50,000 CD CS/1ST BOSTON 4.415% 04/26/06 4.410 50,000 CD UBS 4.415% 04/26/06 4.415 50,000 CD UBS 4.415% 04/26/06 4.415 50,000 CID GECC 11/21/05 3.990 50,000 CID GECC 11/21/05 3.990 50,000 CID GECC 11/21/05 3.990 50,000 CID GECC 11/21/05 3.990 50,000 CP GECC 11/21/05 3.990 50,000 CP GECC 11/21/05 3.990 50,000 CP NCAT 11/28/05 3.980 15,000 CP NCAT 11/28/05 3.980 50,000 CP NCAT 11/28/05 3.980 50,000 CP NCAT 11/28/05 3.980 50,000 CP NCAT 11/28/05 3.980 50,000 CP W/F 11/28/05 3.990 50,000 CP W/F 11/28/05 3.990 50,000 CP W/F 11/28/05 3.990 50,000 CP W/F 11/28/05 3.990 50,000 CP COUNTRY 11/28/05 4.040 50,000 CP COUNTRY 11/28/05 4.040 50,000 CP COUNTRY 11/28/05 4.040 50,000 CP COUNTRY 11/28/05 4.040 50,000 DISC NOTES FHLMC 06/30/06 4.320 50,000 DISC NOTES FHLMC 06/30/06 4.320 50,000 DISC NOTES FHLMC 06/30/06 4.320 50,000 DISC NOTES FHLMC 06/30/06 4.320 50,000 DISC NOTES FHLMC 06/30/06 4.320 50,000 DISC NOTES FHLMC 06/30/06 4.320 50,000 DISC NOTES FHLMC 06/30/06 4.320 50,000 MTN DEERE 5.125% 10/19/06 4.755 20,000 11/14/05 REDEMPTIONS BN B/A 3.480% 11/14/05 3.480 50,000 150 725,000.00 3.528 BN B/A 3.480% 11/14/05 3.480 50,000 150 725,000.00 3.528 8 11/14/05 REDEMPTIONS (continued) BN B/A CD W/F CD W/F CD 1N/F DISC NOTES FHLMC DISC NOTES FHLMC 11/14/05 NO PURCHASES 11/15/05 REDEMPTIONS 3.480% 11/14/05 3.480 50,000 150 725,000.00 3.528 3.840% 11/14/05 3.840 50,000 41 218,666.67 3.893 3.840% 11/14/05 3.840 50,000 41 218,666.67 3.893 3.840% 11/14/05 3.840 50,000 41 218,666.67 3.893 11/14/05 3.340 50,000 154 714,388.89 3.435 11/14/05 3.340 50,000 154 714,388.89 3.435 AGENCY FHLB 3.625% 11/15/05 1.490 50,000 881 1,849,604.17 1.463 AGENCY FHLB 3.625% 11/15/05 1.490 50,000 881 1,849,604.17 1.463 AGENCY FHLB 3.625% 11/15/05 2.651 25,000 1064 1,960,769.44 2.627 AGENCY FHLB 3.625% 11/15/05 2.655 50,000 1064 3,927,388.89 2.631 TREAS NOTES 5.750% 11/15/05 2.315 50,000 1065 3,566,298.34 2.314 TREAS NOTES 5.750% 11/15/05 2.315 50,000 1065 3,566,298.34 2.314 TREAS NOTES 5.750% 11/15/05 2.294 50,000 1105 3,673,828.12 2.293 TREAS NOTES 5.750% 11/15/05 2.294 50,000 1105 3,673,828.12 2.293 11/15/05 PURCHASES CD INIF 4.020% 12/08/05 4.020 50,000 CD INIF 4.020% 12/08/05 4.020 50,000 CD INIF 4.020% 12/08/05 4.020 50,000 CD WIF 4.020% 12/08/05 4.020 50,000 CD VV/F 4.020% 12/08/05 4.020 50,000 CP NCAT 11/16/05 4.060 5,000 CP NCAT 11/16/05 4.060 50,000 CP GECC 11/16/05 4.070 50,000 CP GECC 11/16/05 4.070 50,000 CP GECC 11/16/05 4.070 50,000 CP SARA LEE 12/02/05 4.060 31,000 CP DISNEY 12/05/05 4.090 39,100 CP COUNTRY 12/08/05 4.060 5,000 CP COUNTRY 12/08/05 4.060 50,000 CP COUNTRY 12/08/05 4.060 50,000 CP COUNTRY 12/08/05 4.060 50,000 CP COUNTRY 12/08/05 4.060 50,000 CP DISNEY 12/09/05 4.080 25,000 11/15/05 PURCHASES c/ DISC NOTES FHLB DISC NOTES FHLB DISC NOTES FHLB DISC NOTES FHLMC 12/09/05 4.080 30,000 12/09/05 4.080 50,000 12/09/05 4.080 50,000 12/06/05 4.080 23,480 9 11/16/05 REDEMPTIONS CID NCAT 11/16/05 4.060 5,000 1 563.89 4.117 CP NCAT 11/16/05 4.060 50,000 1 5,638.89 4.117 CID GECC 11/16/05 4.070 50,000 1 5,652.78 4.127 CP GECC 11/16/05 4.070 50,000 1 5,652.78 4.127 CP GECC 11/16/05 4.070 50,000 1 5,652.78 4.127 CID FCAR 11/16/05 3.830 50,000 43 228,736.11 3.901 CID FCAR 11/16/05 3.830 50,000 43 228,736.11 3.901 CID NCAT 11/16/05 3.830 50,000 43 228,736.11 3.901 CID FCAR 11/16/05 3.420 50,000 155 736,250.00 3.519 CID FCAR 11/16/05 3.420 50,000 155 736,250.00 3.519 CID FCAR 11/16/05 3.420 50,000 155 736,250.00 3.519 CID FCAR 11/16/05 3.420 50,000 155 736,250.00 3.519 CID GECC 11/16/05 3.350 50,000 160 744,444.44 3.448 CID GECC 11/16/05 3.350 50,000 160 744,444.44 3.448 CID GECC 11/16/05 3.350 50,000 160 744,444.44 3.448 CID GECC 11/16/05 3.350 50,000 160 744,444.44 3.448 DISC NOTES FHLMC 11/16/05 3.280 50,000 162 738,000.00 3.375 DISC NOTES FHLMC 11/16/05 3.280 50,000 162 738,000.00 3.375 11/16/05 REDEMPTIONS c/ DISC NOTES FHLB 12/09/05 4.080 30,000 1 3,323.05 4.137 DISC NOTES FHLB 12/09/05 4.080 50,000 1 5,538.26 4.137 DISC NOTES FHLB 12/09/05 4.080 50,000 1 5,538.26 4.137 DISC NOTES FHLMC 12/06/05 4.080 23,480 1 2,600.43 4.137 11/16/05 PURCHASES CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 11/17/05 NO REDEMPTIONS 11/17/05 PURCHASES CD NOVA SCOT 4.340% 03/20/06 4.340 25,000 CD NOVA SCOT 4.340% 03/20/06 4.340 50,000 CD NOVA SCOT 4.340% 03/20/06 4.340 50,000 CID VW/F 12/02/05 4.000 50,000 CID WIF 12/02/05 4.000 50,000 CID WIF 12/02/05 4.000 50,000 CID WIF 12/02/05 4.000 50,000 CID GECC 12/05/05 4.000 50,000 CID GECC 12/05/05 4.000 50,000 CID GECC 12/05/05 4.000 50,000 CID GECC 12/05/05 4.000 50,000 CID GECC 12/05/05 4.000 50,000 CID GECC 12/05/05 4.000 50,000 10 11/17/05 PURCHASES (continued) CID NCAT 02/06/06 4.230 50,000 CID NCAT 02/06/06 4.230 50,000 CID NCAT 02/16/06 4.230 25,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 DISC NOTES FHLMC 04/03/06 4.210 50,000 11/18/05 REDEMPTIONS BN B/A 3.480% 11/18/05 3.480 50,000 154 744,333.33 3.528 BN B/A 3.480% 11/18/05 3.480 50,000 154 744,333.33 3.528 BN B/A 3.480% 11/18/05 3.480 50,000 154 744,333.33 3.528 DISC NOTES FHLMC 11/18/05 3.360 50,000 156 728,000.00 3.457 DISC NOTES FHLMC 11/18/05 3.360 50,000 156 728,000.00 3.457 DISC NOTES FHLMC 11/18/05 3.280 50,000 164 747,111.11 3.376 DISC NOTES FHLMC 11/18/05 3.280 50,000 164 747,111.11 3.376 11/18/05 PURCHASES CID GECC 11/21/05 3.970 50,000 CID GECC 11/21/05 3.970 50,000 CID GECC 11/21/05 3.970 50,000 CID GECC 11/21/05 3.970 50,000 CID GECC 11/21/05 3.970 50,000 CID GECC 11/21/05 3.970 50,000 CID GECC 11/21/05 3.970 50,000 CID GECC 11/21/05 3.970 50,000 CP GECC 11/21/05 3.970 50,000 CP 'dV/F 11/28/05 3.990 50,000 CP 'iN/F 11/28/05 3.990 50,000 CP 'NIF 11/30/05 3.990 50,000 CP 'W/F 11/30/05 3.990 50,000 DISC NOTES FHLMC 03/27/06 4.210 50,000 DISC NOTES FHLMC 03/27/06 4.210 50,000 DISC NOTES FHLMC 03/27/06 4.210 50,000 DISC NOTES FHLMC 03/27/06 4.210 50,000 DISC NOTES FHLMC 03/28/06 4.210 50,000 DISC NOTES FHLMC 03/28/06 4.210 50,000 DISC NOTES FHLMC 03/30/06 4.210 50,000 DISC NOTES FHLMC 03/30/06 4.210 50,000 DISC NOTES FHLMC 03/30/06 4.210 50,000 11 11/18/05 PURCHASES (continued) DISC NOTES FHLMC 03/30/06 4.210 50,000 11/21/05 REDEMPTIONS CP GECC 11/21/05 3.970 50,000 3 16,541.67 4.026 CP GECC 11/21/05 3.970 50,000 3 16,541.67 4.026 CP GECC 11/21/05 3.970 50,000 3 16,541.67 4.026 CP GECC 11/21/05 3.970 50,000 3 16,541.67 4.026 CP GECC 11/21/05 3.970 50,000 3 16,541.67 4.026 CP GECC 11/21/05 3.970 50,000 3 16,541.67 4.026 CP GECC 11/21/05 3.970 50,000 3 16,541.67 4.026 CP GECC 11/21/05 3.970 50,000 3 16,541.67 4.026 CP GECC 11/21/05 3.970 50,000 3 16,541.67 4.026 CP GECC 11/21/05 3.990 50,000 11 60,958.33 4.050 CP GECC 11/21/05 3.990 50,000 11 60,958.33 4.050 CP GECC 11/21/05 3.990 50,000 11 60,958.33 4.050 CP GECC 11/21/05 3.990 50,000 11 60,958.33 4.050 CP GECC 11/21/05 3.990 50,000 11 60,958.33 4.050 CP GECC 11/21/05 3.990 50,000 11 60,958.33 4.050 DISC NOTES FHLMC 11/21/05 3.375 50,000 157 735,937.50 3.473 DISC NOTES FHLMC 11/21/05 3.375 50,000 157 735,937.50 3.473 11/21/05 PURCHASES CD HSBC 4.320% 03/27/06 4.320 50,000 CD HSBC 4.320% 03/27/06 4.320 50,000 CD L_LOYDS 4.435% 04/26/06 4.425 50,000 CD LLOYDS 4.435% 04/26/06 4.425 50,000 CP COUNTRY 11/28/05 4.050 50,000 CP COUNTRY 11/28/05 4.050 50,000 CP COUNTRY 11/28/05 4.050 50,000 CP COUNTRY 11/28/05 4.050 50,000 CP COUNTRY 11/28/05 4.050 50,000 CP COUNTRY 11/28/05 4.050 50,000 CP BEAR 03/01/06 4.280 50,000 CP BEAR 03/01/06 4.280 50,000 CP BEAR 03/02/06 4.280 50,000 CP BEAR 03/02/06 4.280 50,000 CP BEAR 03/03/06 4.280 50,000 CP BEAR 03/03/06 4.280 50,000 DISC NOTES FHLMC 04/03/06 4.230 50,000 DISC NOTES FHLMC 04/03/06 4.230 50,000 DISC NOTES FHLMC 04/03/06 4.230 50,000 DISC NOTES (FHLMC 04/03/06 4.230 50,000 DISC NOTES FHLMC 04/03/06 4.230 50,000 DISC NOTES FHLMC 04/03/06 4.230 50,000 DISC NOTES FHLMC 04/03/06 4.230 50,000 DISC NOTES FHLMC 04/03/06 4.230 50,000 12 11/22/05 NO REDEMPTIONS 11/22/05 PURCHASES CD MONTREAL 4.430% 04/26/06 4.430 50,000 CD MONTREAL 4.430% 04/26/06 4.430 50,000 CD UBS 4.435% 04/26/06 4.430 50,000 CD UBS 4.435% 04/26/06 4.430 50,000 CD UBS 4.435% 04/26/06 4.430 50,000 CID CITIGROUP 12/01/05 4.000 50,000 CID CITIGROUP 12/01/05 4.000 50,000 CID CITIGROUP 12/06/05 4.000 50,000 CID CITIGROUP 12/06/05 4.000 50,000 CID CITIGROUP 12/09/05 4.000 50,000 CID CITIGROUP 12/09/05 4.000 50,000 DISC NOTES FHLMC 04/04/06 4.230 25,000 DISC NOTES FHLMC 04/04/06 4.230 50,000 DISC NOTES FHLMC 04/04/06 4.230 50,000 DISC NOTES FHLMC 04/04/06 4.230 50,000 11/23/05 NO REDEMPTIONS 11/23/05 NO PURCHASES 11/28/05 REDEMPTIONS BN WORLD 3.720% 11/28/05 3.720 50,000 88 454,666.67 3.772 BN WORLD 3.720% 11/28/05 3.720 50,000 88 454,666.67 3.772 CD SOC GEN 4.000% 11/28/05 4.000 10,000 18 20,000.00 4.056 CD SOC GEN 4.000% 11/28/05 4.000 50,000 18 100,000.00 4.056 CD SOC GEN 4.000% 11/28/05 4.000 50,000 18 100,000.00 4.056 CD NOVA SCOT 3.500% 11/28/05 3.500 50,000 158 768,055.56 3.549 CD NOVA SCOT 3.500% 11/28/05 3.500 50,000 158 768,055.56 3.549 CD DEXIA 3.510% 11/28/05 3.500 50,000 158 768,088.75 3.549 CD DEXIA 3.510% 11/28/05 3.500 50,000 158 768,088.75 3.549 CD CALYON 3.515% 11/28/05 3.500 50,000 158 768,105.35 3.549 CD CALYON 3.515% 11/28/05 3.500 50,000 158 768,105.35 3.549 CD SOC GEN 3.510% 11/28/05 3.510 50,000 158 770,250.00 3.559 CD SOC GEN 3.510% 11/28/05 3.510 50,000 158 770,250.00 3.559 CD CIBC 3.460% 11/28/05 3.460 50,000 166 797,722.22 3.508 CD CIBC 3.460% 11/28/05 3.460 50,000 166 797,722.22 3.508 CD CIBC 3.460% 11/28/05 3.460 50,000 166 797,722.22 3.508 CD CIBC 3.460% 11/28/05 3.460 50,000 166 797,722.22 3.508 CD LLOYDS 3.460% 11/28/05 3.450 50,000 171 819,413.29 3.498 CD DEXIA 3.410% 11/28/05 3.405 50,000 174 822,894.56 3.452 CD DEXIA 3.410% 11/28/05 3.405 50,000 174 822,894.56 3.452 CD DEXIA 3.410% 11/28/05 3.405 50,000 174 822,894.56 3.452 CD US BANK 3.440% 11/28/05 3.440 50,000 174 831,333.33 3.488 CD US BANK 3.440% 11/28/05 3.440 50,000 174 831,333.33 3.488 CID COUNTRY 11/28/05 4.050 50,000 7 39,375.00 4.109 CID COUNTRY 11/28/05 4.050 50,000 7 39,375.00 4.109 CID COUNTRY 11/28/05 4.050 50,000 7 39,375.00 4.109 13 11/28/05 REDEMPTIONS (continued) CP COUNTRY 11/28/05 4.050 50,000 7 39,375.00 4.109 CID COUNTRY 11/28/05 4.050 50,000 7 39,375.00 4.109 CID COUNTRY 11/28/05 4.050 50,000 7 39,375.00 4.109 CID VW/F 11/28/05 3.990 50,000 10 55,416.67 4.050 CID W/F 11/28/05 3.990 50,000 10 55,416.67 4.050 CID NCAT 11/28/05 3.980 15,000 18 29,850.00 4.043 CID NCAT 11/28/05 3.980 50,000 18 99,500.00 4.043 CID NCAT 11/28/05 3.980 50,000 18 99,500.00 4.043 CID NCAT 11/28/05 3.980 50,000 18 99,500.00 4.043 CID NCAT 11/28/05 3.980 50,000 18 99,500.00 4.043 CID W/F 11/28/05 3.990 50,000 18 99,750.00 4.053 CID W/F 11/28/05 3.990 50,000 18 99,750.00 4.053 CID W/F 11/28/05 3.990 50,000 18 99,750.00 4.053 CID W/F 11/28/05 3.990 50,000 18 99,750.00 4.053 CID COUNTRY 11/28/05 4.040 50,000 18 101,000.00 4.104 CID COUNTRY 11/28/05 4.040 50,000 18 101,000.00 4.104 CP COUNTRY 11/28/05 4.040 50,000 18 101,000.00 4.104 CID COUNTRY 11/28/05 4.040 50,000 18 101,000.00 4.104 DISC NOTES FHLB 11/28/05 3.350 50,000 166 772,361.11 3.450 DISC NOTES FHLB 11/28/05 3.350 50,000 166 772,361.11 3.450 DISC NOTES FHLB 11/28/05 3.350 50,000 166 772,361.11 3.450 DISC NOTES FHLB 11/28/05 3.350 50,000 166 772,361.11 3.450 DISC NOTES FHLB 11/28/05 3.350 50,000 166 772,361.11 3.450 DISC NOTES FHLB 11/28/05 3.350 50,000 166 772,361.11 3.450 11/28/05 PURCHASES BN B/A 4.380% 03/27/06 4.380 50,000 BN B/A 4.380% 03/27/06 4.380 50,000 BN B/A 4.380% 03/27/06 4.380 50,000 BN B/A 4.380% 03/28/06 4.380 50,000 BN B/A 4.380% 03/28/06 4.380 50,000 BN B/A 4.380% 03/28/06 4.380 50,000 CP COUNTRY 02/01/06 4.260 50,000 CID COUNTRY 02/01/06 4.260 50,000 CID NCAT 03/02/06 4.290 50,000 CID NCAT 03/02/06 4.290 50,000 CID NCAT 03/02/06 4.290 50,000 CID NCAT 03/02/06 4.290 50,000 CID CITIGROUP 03/03/06 4.290 50,000 CID CITIGROUP 03/03/06 4.290 50,000 CID CITIGROUP 03/03/06 4.290 50,000 CP CITIGROUP 03/03/06 4.290 50,000 11/29/05 NO REDEMPTIONS 11/29/05 PURCHASES CID GECC 11/30/05 3.980 50,000 CID GECC 11/30/05 3.980 50,000 14 11/29/05 PURCHASES (continued) CP GECC 11/30/05 3.980 50,000 CID GECC 11/30/05 3.980 50,000 CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID GECC 12/01/05 4.000 50,000 CID COUNTRY 12/06/05 4.050 50,000 CID COUNTRY 12/06/05 4.050 50,000 CID CRC 02/16/06 4.270 30,000 DISC NOTES FHLMC 04/03/06 4.230 50,000 DISC NOTES FHLMC 04/03/06 4.230 50,000 DISC NOTES FHLMC 04/04/06 4.230 50,000 DISC NOTES FHLMC 04/04/06 4.230 50,000 DISC NOTES FHLMC 04/10/06 4.250 50,000 DISC NOTES FHLMC 04/10/06 4.250 50,000 FR SBA 4.050% 10/25/30 4.050 11,096 FR SBA 4.050% 02/25/31 4.050 12,112 11/30/05 REDEMPTIONS CD S-E BANK 3.485% 11/30/05 3.470 50,000 169 814,542.54 3.518 CD S-E BANK 3.485% 11/30/05 3.470 50,000 169 814,542.54 3.518 CD S-E BANK 3.485% 11/30/05 3.470 50,000 169 814,542.54 3.518 CD S-E BANK 3.485% 11/30/05 3.470 50,000 169 814,542.54 3.518 CID GECC 11/30/05 3.980 50,000 1 5,527.78 4.036 CID GECC 11/30/05 3.980 50,000 1 5,527.78 4.036 CID GECC 11/30/05 3.980 50,000 1 5,527.78 4.036 CID GECC 11/30/05 3.980 50,000 1 5,527.78 4.036 CID W/F 11/30/05 3.990 50,000 12 66,500.00 4.051 CID W/F 11/30/05 3.990 50,000 12 66,500.00 4.051 CID GECC 11/30/05 3.410 50,000 168 795,666.67 3.513 CID GECC 11/30/05 3.410 50,000 168 795,666.67 3.513 CID GECC 11/30/05 3.410 50,000 168 795,666.67 3.513 TREAS NOTES 1.875% 11/30/05 3.277 50,000 146 651,319.16 3.277 TREAS NOTES 1.875% 11/30/05 3.277 50,000 146 651,319.16 3.277 TREAS NOTES 1.875% 11/30/05 3.277 50,000 146 651,319.16 3.277 TREAS NOTES 1.875% 11/30/05 3.277 50,000 146 651,319.16 3.277 TREAS NOTES 1.875% 11/30/05 3.287 50,000 146 653,272.28 3.287 TREAS NOTES 1.875% 11/30/05 3.287 50,000 146 653,272.28 3.287 TREAS NOTES 1.875% 11/30/05 3.287 50,000 146 653,272.28 3.287 TREAS NOTES 1.875% 11/30/05 3.287 50,000 146 653,272.28 3.287 TREAS NOTES 1.875% 11/30/05 3.212 50,000 160 698,898.57 3.212 TREAS NOTES 1.875% 11/30/05 3.212 50,000 160 698,898.57 3.212 TREAS NOTES 1.875% 11/30/05 3.212 50,000 160 698,898.57 3.212 TREAS NOTES 1.875% 11/30/05 3.212 50,000 160 698,898.57 3.212 15 11/30/05 PURCHASES REMIC FNMA 5.243% 09/25/35 4.723 33,159 REMIC FNMA 5.243% 09/25/35 4.723 50,000 REMIC FNMA 5.243% 09/25/35 4.723 50,000 REMIC FNMA 5.243% 09/25/35 4.723 50,000 REMIC FNMA 5.243% 09/25/35 4.723 50,000 REMIC FNMA 5.243% 09/25/35 4.723 50,000 REMIC FNMA 5.243% 09/25/35 4.723 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 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. V Buy back agreement. RRS Reverse Repurchase Agreement. RRP Termination of Reverse Repurchase Agreement. 17 I k•uJAI� 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 CAMERON PARK Western Sierra National Bank Western Sierra National Bank TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 10/07/05 3.670 4,500,000.00 01/06/06 09/01/05 3.620 4,000,000.00 12/01/05 09/09/05 3.520 6,000,000.00 12/09/05 10/07/05 3.660 4,000,000.00 01/06/06 11/10/05 4.010 2,000,000.00 02/09/06 11/18/05 4.040 4,000,000.00 02/17/06 10/13/05 3.720 3,095,000.00 01/12/06 08/11 /05 3.860 3,000,000.00 02/09/06 08/17/05 3.890 6,000,000.00 02/16/06 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 10/12/05 4.040 5,000,000.00 04/12/06 11/16/05 4.380 5,000,000.00 05/17/06 08/03/05 3.780 4,000,000.00 02/01 /06 06/15/05 3.210 10,000,000.00 12/14/05 09/01/05 3.840 10,000,000.00 03/02/06 11/03/05 4.310 10,000,000.00 05/04/06 11/30/05 4.340 10,000,000.00 06/01/06 06/03/05 3.160 6,000,000.00 12/02/05 07/27/05 3.720 6,000,000.00 01/25/06 11/16/05 4.050 6,000,000.00 02/15/06 07/13/05 3.480 7,000,000.00 01/11/06 10/05/05 3.930 8,000,000.00 04/05/06 18 NAME 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 EL SEGUNDO First Coastal Bank, NA First Coastal Bank, NA First Coastal Bank, NA First Coastal Bank, NA First Coastal Bank, NA TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 11/30/05 4.000 5,000,000.00 03/01/06 09/09/05 3.530 20,000,000.00 12/09/05 10/06/05 3.730 20,000,000.00 01/05/06 11/04/05 3.990 20,000,000.00 02/03/06 09/15/05 3.530 20,000,000.00 12/15/05 06/10/05 3.170 6,000,000.00 12/09/05 10/27/05 3.960 6,000,000.00 01/26/06 11/02/05 3.950 5,000,000.00 02/01/06 08/24/05 3.880 10,000,000.00 02/23/06 06/10/05 3.150 10,000,000.00 12/09/05 08/11 /05 3.840 5,000,000.00 02/09/06 10/05/05 3.930 5,000,000.00 04/05/06 09/01 /05 3.620 25,000,000.00 12/01 /05 07/08/05 3.490 20,000,000.00 01/06/06 10/14/05 3.800 47,500,000.00 01/13/06 10/21/05 3.880 32,500,000.00 01/20/06 11/04/05 3.980 25,000,000.00 02/03/06 09/16/05 3.520 5,000,000.00 12/16/05 10/20/05 3.910 2,000,000.00 01/19/06 11/04/05 3.990 3,000,000.00 02/03/06 11/17/05 4.050 2,000,000.00 02/16/06 09/01/05 3.860 2,000,000.00 03/02/06 19 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE EL SEGUNDO (continued) 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 Xerox Federal Credit Union 10/17/05 4.170 10,000,000.00 04/19/06 Xerox Federal Credit Union 11/18/05 4.390 20,000,000.00 05/19/06 FAIRFIELD WestAmerica Bank 10/06/05 3.720 60,000,000.00 01/05/06 WestAmerica Bank 10/14/05 3.800 65,000,000.00 01/13/06 WestAmerica Bank 10/19/05 3.850 15,000,000.00 01/19/06 WestAmerica Bank 10/21/05 3.850 25,000,000.00 01/19/06 WestAmerica Bank 10/28/05 3.950 25,000,000.00 01/27/06 WestAmerica Bank 11/09/05 3.990 5,000,000.00 02/08/06 WestAmerica Bank 11/16/05 4.040 75,000,000.00 02/15/06 FRESNO United Security Bank 10/19/05 4.170 40,000,000.00 04/19/06 FULLERTON 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 Fullerton Community Bank, FSB 11/16/05 4.380 19,000,000.00 05/17/06 GOLETA Pacific Capital Bank, NA 06/08/05 3.170 85,000,000.00 12/07/05 Pacific Capital Bank, NA 10/06/05 3.830 2,000,000.00 02/08/06 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 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 20 NAME HAWTHORNE Western Federal Credit Union IRVINE CommerceWest Bank, NA CommerceWest Bank, NA Commercial Capital Bank Commercial Capital Bank Commercial Capital Bank Commercial Capital Bank Commercial Capital Bank Commercial Capital Bank LA JOLLA Silvergate Bank LIVERMORE Valley Community Bank LODI Farmers & Merchants Bk Cen CA LOS ANGELES 1 st Century Bank, NA Broadway Federal Bank, FSB Broadway Federal Bank, FSB Cathay Bank Cathay Bank Cathay Bank Cathay Bank Cathay Bank Cathay Bank Cathay Bank Cathay Bank Cedars Bank Cedars Bank Cedars Bank Center Bank Center Bank TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 10/21/05 3.890 30,000,000.00 01/20/06 09/30/05 3.540 5,000,000.00 01/06/06 11/17/05 4.360 500,000.00 05/18/06 06/22/05 3.290 11,000,000.00 12/15/05 06/16/05 3.240 39,000,000.00 12/15/05 09/30/05 3.530 10,000,000.00 01/06/06 10/07/05 3.660 60,000,000.00 01/06/06 10/14/05 3.790 105,000,000.00 01/13/06 11/16/05 4.020 115,000,000.00 02/15/06 06/10/05 3.190 5,000,000.00 12/09/05 09/16/05 3.780 6,000,000.00 03/17/06 07/07/05 3.440 25,000,000.00 01/05/06 09/28/05 3.550 10,000,000.00 01/05/06 07/08/05 3.500 2,500,000.00 01/06/06 09/09/05 3.720 3,000,000.00 03/10/06 06/09/05 3.160 55,000,000.00 12/08/05 09/15/05 3.530 25,000,000.00 12/15/05 10/06/05 4.060 38,000,000.00 04/06/06 10/20/05 4.200 25,000,000.00 04/20/06 11/09/05 4.310 25,000,000.00 05/10/06 11/17/05 4.380 15,000,000.00 05/17/06 11/16/05 4.380 25,000,000.00 05/17/06 11/30/05 4.340 42,000,000.00 06/01/06 09/28/05 3.480 10,000,000.00 01/05/06 07/13/05 3.500 5,000,000.00 01 /11 /06 08/03/05 3.750 10,000,000.00 02/01/06 06/22/05 3.300 25,000,000.00 12/21/05 07/21 /05 3.580 15,000,000.00 01 /19/06 21 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE LOS ANGELES (continued) 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 10/13/05 4.030 4,300,000.00 04/13/06 Citibank (West), FSB 10/06/05 3.730 150,000,000.00 01/05/06 Citibank (West), FSB 10/13/05 4.060 100,000,000.00 04/13/06 Citibank (West), FSB 10/19/05 4.190 100,000,000.00 04/19/06 Citibank (West), FSB 10/26/05 4.240 50,000,000.00 04/26/06 Commonwealth Business Bank 10/07/05 3.690 5,000,000.00 01/06/06 Eastern International Bank 06/09/05 3.160 1,000,000.00 12/08/05 Eastern International Bank 11/02/05 4.260 900,000.00 05/03/06 Far East National Bank 11/02/05 3.990 25,000,000.00 02/01/06 Far East National Bank 11/09/05 4.010 25,000,000.00 02/08/06 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 10/13/05 3.700 10,000,000.00 01/12/06 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 11/03/05 4.000 25,000,000.00 02/02/06 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 10/21/05 3.880 25,000,000.00 01/20/06 Manufacturer's Bank 08/18/05 3.850 25,000,000.00 02/16/06 Mellon First Business Bank, NA 09/15/05 3.530 50,000,000.00 12/15/05 Mellon First Business Bank, NA 10/14/05 3.800 75,000,000.00 01/13/06 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 Mirae Bank 10/14/05 4.080 4,000,000.00 04/14/06 Mirae Bank 11/23/05 4.310 3,000,000.00 05/24/06 Nara Bank, NA 06/10/05 3.170 10,000,000.00 12/09/05 Nara Bank, NA 10/20/05 3.900 25,000,000.00 01/19/06 Nara Bank, NA 08/03/05 3.780 20,000,000.00 02/01/06 Nara Bank, NA, 11/10/05 4.010 5,000,000.00 02/09/06 Nara Bank, NA, 11/17/05 4.040 10,000,000.00 02/16/06 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; 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 Preferred Bank; 11/04/05 3.960 4,000,000.00 02/03/06 22 NAME LOS ANGELES (continued Saehan Bank State Bank of India (California) State Bank of India (California) State Bank of India (California) Wilshire State Bank Wilshire State Bank Wilshire State Bank Wilshire State Bank Wilshire State Bank MERCED County Bank County Bank County Bank NATIONAL CITY Neighborhood National Bank Neighborhood National Bank NEWPORT BEACH Independence Bank Independence Bank Orange County Business Bank, NA Orange County Business Bank, NA Orange County Business Bank, NA Orange County Business Bank, NA Orange Counbi Business Bank, NA NORTH HIGHLANDS SAFE Credit Union SAFE Credit Union OAKDALE Oak Valley Community Bank Oak Valley Community Bank TIME DEPOSITS DEPOSIT PAR MATURITY DATE YIELD AMOUNT ($) DATE 08/19/05 3.870 16,000,000.00 02/17/05 10/27/05 3.990 3,000,000.00 01/26/06 08/18/05 3.870 2,000,000.00 02/16/06 10/06/05 4.070 3,000,000.00 04/06/06 06/17/05 3.260 3,000,000.00 12/16/05 09/16/05 3.480 23,000,000.00 12/16/05 10/14/05 3.780 19,000,000.00 01/13/06 11/10/05 3.990 8,000,000.00 02/09/06 11 /30/05 3.980 58, 000,000.00 03/01 /06 09/02/05 3.600 5,000,000.00 12/02/05 09/08/05 3.550 10,000,000.00 12/08/05 10/14/05 3.800 10,000,000.00 01/13/06 07/22/05 3.640 2,000,000.00 01 /20/06 08/03/05 3.790 2,000,000.00 02/01 /06 09/23/05 3.510 1,000,000.00 01 /05/06 09/23/05 3.510 1,500,000.00 01 /05/06 09/23/05 3.440 4,000,000.00 12/21 /05 09/28/05 3.500 8,000,000.00 01/05/06 10/13/05 3.680 4,000,000.00 01/12/06 10/27/05 3.940 4,000,000.00 01/26/06 11/16/05 4.000 4,000,000.00 02/15/06 10/14/05 3.810 5,000,000.00 01/13/06 11/10/05 4.020 20,000,000.00 02/09/06 09/15/05 3.530 10/14/05 3.800 23 3,500,000.00 12/15/05 2,500,000.00 01/13/06 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE OAKLAND 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 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 11/04/05 3.980 30,000,000.00 02/03/06 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 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 Greater Bay Bank, NA 10/19/05 4.180 50,000,000.00 04/19/06 Greater Bay Bank, NA 11/10/05 4.340 25,000,000.00 05/11/06 Greater Bay Bank, NA 11/10/05 4.340 25,000,000.00 05/11/06 Greater Bay Bank, NA 11/16/05 4.380 33,500,000.00 05/17/06 Greater Bay Bank, NA 11/23/05 4.330 25,000,000.00 05/24/06 Greater Bay Bank, NA 11/30/05 4.340 30,000,000.00 06/01/06 PALOS VERDES ESTATES 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 Malaga Bank, FSB 10/06/05 4.060 5,000,000.00 04/06/06 Malaga Bank, FSB 11/09/05 4.310 7,000,000.00 05/10/06 24 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE PASADENA Community Bank 06/15/05 3.210 10,000,000.00 12/14/05 Community Bank 07/08/05 3.500 10,000,000.00 01/06/06 Community Bank 10/12/05 3.700 15,000,000.00 01/11/06 Community Bank 08/03/05 3.790 25,000,000.00 02/01/06 Community Bank 11/03/05 4.030 15,000,000.00 02/02/06 Community Bank 09/14/05 3.800 10,000,000.00 03/15/06 Community Bank 10/06/05 4.070 10,000,000.00 04/06/06 Wescom Credit Union 06/22/05 3.320 50,000,000.00 12/21 /05 Wescom Credit Union 10/03/05 3.560 25,000,000.00 01/05/06 Wescom Credit Union 07/13/05 3.520 25,000,000.00 01/11/06 Wescom Credit Union 07/13/05 3.520 40,000,000.00 01/11/06 Wescom Credit Union 10/27/05 4.000 25,000,000.00 01/26/06 Wescom Credit Union 11/17/05 4.060 35,000,000.00 02/16/06 Wescom Credit Union 09/16/05 3.800 15,000,000.00 03/17/06 PLACERVILLE El Dorado Savings Bank 04/29/05 3.390 5,000,000.00 04/28/06 POMONA PFF Bank and Trust 06/08/05 3.170 20,000,000.00 12/07/05 PFF Bank and Trust 07/21/05 3.580 20,000,000.00 01/19/06 PFF Bank and Trust 08/26/05 3.850 20,000,000.00 02/24/06 PFF Bank and Trust 09/02/05 3.790 20,000,000.00 03/03/06 PFF Bank and Trust 11/03/05 4.310 20,000,000.00 05/04/06 PORTERVILLE Bank of the Sierra 10/20/05 3.900 10,000,000.00 01/19/06 RANCHO SANTA FE La Jolla Bank, FSB 09/01 /05 3.620 10,000,000.00 12/01 /05 La Jolla Bank, FSB 09/01/05 3.620 25,000,000.00 12/01/05 La Jolla Bank, FSB 09/15/05 3.530 10,000,000.00 12/15/05 La Jolla Bank, FSB 09/22/05 3.660 5,000,000.00 12/16/05 La Jolla Bank, FSB 11/03/05 3.970 20,000,000.00 02/01/06 La Jolla Bank, FSB 11/02/05 3.970 25,000,000.00 02/01/06 La Jolla Bank, FSB 11/10/05 4.010 15,000,000.00 02/09/06 La Jolla Bank, FSB 11/16/05 4.040 25,000,000.00 02/15/06 La Jolla Bank, FSB 09/01 /05 3.840 10,000,000.00 03/02/06 25 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE REDWOOD CITY Provident Central Credit Union 06/02/05 3.180 20,000,000.00 12/01/05 Provident Central Credit Union 10/27/05 4.250 20,000,000.00 04/27/06 RICHMOND 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 The Mechanics Bank 10/14/05 4.110 10,000,000.00 04/14/06 The Mechanics Bank 10/20/05 4.210 10,000,000.00 04/20/06 The Mechanics Bank 10/28/05 4.270 10,000,000.00 04/28/06 The Mechanics Bank 11/04/05 4.300 10,000,000.00 05/05/06 RIVERSIDE Provident Savings Bank 10/06/05 3.720 25,000,000.00 01/05/06 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 09/28/05 3.500 12,000,000.00 01/05/06 Five Star Bank 10/26/05 3.900 2,000,000.00 01/25/06 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 SACRAMENTO 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 American River Bank 10/05/05 3.950 1,500,000.00 04/05/06 Bank of Sacramento 11/09/05 3.990 1,500,000.00 02/08/06 Bank of Sacramento 11/30/05 4.000 2,000,000.00 03/01/06 26 TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE SACRAMENTO (continued 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 Merchants National Bank of Sacramento 10/12/05 4.040 2,000,000.00 04/12/06 River City Bank 07/29/05 3.750 3,000,000.00 01/27/06 River City Bank 10/05/05 3.930 2,000,000.00 04/05/06 River City Bank 11/23/05 4.310 2,000,000.00 05/24/06 The Golden One Credit Union 11/30/05 4.000 25,000,000.00 03/01/06 U.S. Bank, NA 07/07/05 3.440 100,000,000.00 01/05/06 U.S. Bank, NA 11/02/05 3.970 75,000,000.00 02/01/06 U.S. Bank, NA 08/11/05 3.860 100,000,000.00 02/09/06 U.S. Bank, NA 11/18/05 4.040 100,000,000.00 02/17/06 U.S. Bank, NA 11/23/05 4.060 25,000,000.00 02/23/06 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 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 Future Credit Union 11/23/05 4.330 15,000,000.00 05/24/06 First United Bank 08/12/05 3.850 1,000,000.00 02/10/06 First United Bank 10/13/05 4.030 2,000,000.00 04/13/06 Mission Federal Credit Union 08/31/05 3.890 10,000,000.00 03/01/06 Mission Federal Credit Union 10/13/05 4.080 10,000,000.00 04/13/06 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 09/21/05 3.600 1,000,000.00 12/16/05 Trans Pacific National Bank 10/12/05 3.700 1,000,000.00 01/11/06 Trans Pacific National Bank 08/04/05 3.780 1,000,000.00 02/02/06 Trans Pacific National Bank 11/30/05 4.010 1,000,000.00 03/01/06 Trans Pacific National Bank 09/22/05 3.860 1,000,000.00 03/23/06 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 United Commercial Bank 10/13/05 3.720 90,000,000.00 01/12/06 United Commercial Bank 10/26/05 3.940 40,000,000.00 01/25/06 27 NAME SAN FRANCISCO (continued) United Commercial Bank United Commercial Bank SAN JOSE TIME DEPOSITS DEPOSIT DATE YIELD 11 /23/05 4.060 11 /30/05 4.000 PAR MATURITY AMOUNT ($) DATE 20,000,000.00 02/23/06 50,000,000.00 03/01 /06 Comerica Bank 08/12/05 3.870 25,000,000.00 02/10/06 Comerica Bank 10/07/05 4.040 50,000,000.00 04/07/06 Comerica Bank 10/26/05 4.230 25,000,000.00 04/26/06 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 Meriwest Credit Union 10/12/05 4.050 10,000,000.00 04/12/06 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 Santa Clara Co. Federal Credit Union 11/04/05 4.300 2,500,000.00 05/05/06 SAN LUIS OBISPO 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 Mission Comrunity Bank 10/05/05 3.950 2,500,000.00 04/05/06 Mission Community Bank 10/26/05 4.240 2,500,000.00 04/26/06 San Luis Trust Bank 10/19/05 4.140' 1,700,000.00 04/19/06 SAN MARINO 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 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 East West Bank 10/12/05 3.690 42,000,000.00 01/11/06 East West Bank 11/04/05 3.980 35,000,000.00 02/03/06 East West Bank 11/09/05 3.990 25,000,000.00 02/08/06 East West Bank 11/10/05 3.990 25,000,000.00 02/08/06 East West Bank 11/17/05 4.040 38,000,000.00 02/16/06 East West Bank 11/23/05 4.330 25,000,000.00 05/24/06 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 r: TIME DEPOSITS DEPOSIT PAR MATURITY NAME DATE YIELD AMOUNT ($) DATE SONORA Central California Bank 09/23/05 3.830 5,000,000.00 03/24/06 STOC KTON Pacific State Bank 07/07/05 3.420 1,000,000.00 01/05/06 Pacific State Bank 10/05/05 3.930 1,000,000.00 04/05/06 Pacific State Bank 11/10/05 4.320 5,000,000.00 05/11/06 Washington Mutual Bank, FA 06/15/05 3.220 45,000,000.00 12/14/05 Washington Mutual Bank, FA 07/21/05 3.590 75,000,000.00 01/19/06 Washington Mutual Bank, FA 08/19/05 3.880 60,000,000.00 02/17/06 TORRANCE Chinatrust Bank (USA) 09/09/05 3.530 35,000,000.00 12/09/05 Chinatrust Bank (USA) 10/14/05 3.810 40,000,000.00 01/13/06 Chinatrust Bank (USA) 10/21/05 3.890 30,000,000.00 01/20/06 Chinatrust Bank (USA) 11/10/05 4.020 20,000,000.00 02/09/06 TRACY Service 1st Bank 06/16/05 3.240 2,000,000.00 12/15/05 VACAVILLE Travis Credit Union 11/30/05 4.340 40,000,000.00 06/01/06 WALNUT CREEK Bank of the West 09/15/05 3.530 82,000,000.00 12/15/05 Bank of the West 10/14/05 3.800 134,000,000.00 01/13/06 Bank of the West 10/28/05 3.950 176,500,000.00 01/27/06 Bank of the West 11/18/05 4.040 242,000,000.00 02/17/06 WHITTIER Banco Popular 10/13/05 3.740 24,000,000.00 01/12/06 Banco Popular 10/28/05 3.970 16,000,000.00 01/27/06 Banco Popular 11/16/05 4.060 25,000,000.00 02/15/06 TOTAL TIME DEPOSITS NOVEMBER 2005 7,578,995,000.00 29 BANK DEMAND DEPOSITS November 2005 ($ in thousands) DAILY BALANCES DAY OF BALANCES WARRANTS MONTH PER BANKS OUTSTANDING 1 $ 585,863 $ 2,512,383 2 484,023 2,265,179 3 541,630 2,486,124 4 693,799 2,716,191 5 693,799 2,716,191 6 693,799 2,716,191 7 491,839 2,600,095 8 536,396 2,448,109 9 533,036 2,361,889 10 238,593 2,232,581 11 238,593 2,232,581 12 238,593 2,232,581 13 238,593 2,232,581 14 844,739 2,074,805 15 451,805 2,076,831 16 597,635 2,023,572 17 485,298 2,355,459 18 661,905 2,300,931 19 661,905 2,300,931 20 661,905 2,300,931 2:1 678,359 1,971,836 22 221,084 2,388,264 23 139,636 2,713,413 24 139,636 2,713,413 25 963,266 2,713,413 26 963,266 2,713,413 27 963,266 2,713,413 28 749,619 2,790,226 29 358,447 3,027,537 30 869,597 2,814,212 a/ AVERAGE DOLLAR DAYS $ 553,997 - al The prescribed bank balance for November was $474,685. This consisted of $304,790 in compensating balances for services, balances for uncollected funds of $174,087and a deduction of $4,192 for November delayed deposit credit. 30 DESIGNATION BY POOLED MONEY INVESTMENT BOARD OF TREASURY POOLED MONEY INVESTMENTS AND DEPOSITS No. 1677 in accordance with sections 16480 through 16480.8 of the Government Code, the Pooled Money Investment Board, at its meeting on November 16, 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 assocl- 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 $ 304,790,000 The active noninterest-bearing bank accounts designation constitutes a calendar month average balance. For purposes of computing the compensating balances, the Treasurer shall exclude from the daily balances any amounts contained therein as a result of nondelivery of securities purchased for "cash" for the Pooled Money Investment Account and shall adjust for any deposits not credited by the bank as of the date of deposit. The balances in such accounts may fall below the above amount provided that the balances computed by dividing the sum of daily balances of that calendar month by the number of days in the calendar month reasonably approximates that amount. The balances may exceed this amount during heavy collection periods or in anticipation of large impending warrant presentations to the Treasury, but the balances are to be maintained in such a manner as to realize the maximum return consistent with safe and prudent treasury management. 2. In accordance with law, for investment in securities authorized by section 16430, Government Code, or in term interest - bearing deposits in banks and savings and loan associations as follows: Time Deposits in Various Financial Institutions In Securities (sections 16503a Estimated From To Transactions (section 16430)* and 16602)* Total ( 1) 11/14/05 _ 11/18/05 $ 341,300,000 $ 46,604,705,000 $ 7,575,995,000 $ 54,180,700,000 (2) 11/21/05 '11/25/05 $ 858,700,000 $ 47,463,405,000 $ 7,575,995,000 $ 55,039,400,000 (3) 11/28/05 '12/02/05 $ (2,115,100,000) $ 45,348,305,000 $ 7,575,995,000 $ 52,924,300,000 (4) 12/05/05 '12/09/05 $ 615,100,000 $ 45,963,405,000 $ 7,575,995,000 $ 53,539,400,000 (5) 12/12/05 12/16105 $ 2,690,400,000 $ 48,653,805,000 $ 7,575,995,000 $ 56,229,800,000 (6) 12/19/05 '12/23/05 $ 2,037,100,000 $ 50,690,905,000 $ 7,575,995,000 $ 58,266,900,000 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 $ 304,790,000. Dated: November 16, 2005 * 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: February 8, 2006 TITLE: Desert Sun Investment Advisory Board Notice BACKGROUND: At the last scheduled Board Meeting, Board Member Moulin asked to bring back the Desert Sun Investment Advisory Board Notice for review. Attached please find the notice that was published in the Desert Sun as well as the Municipal Code Chapter 2.70 Investment Advisory Board. RECOMMENDATION: Information itemi only. 6John M. Falconer, Finance Director FEB-02-2006 THU 11:24 AM THE DESERT SUN DD OFC FAX NO. 7602002904 P. 01 THE CITY OF. . LA G�UINTA IS LOOKING FOR AN INVESTMENT ADVISORY BOARD MEMBER The City of La Quinta is seeking interested citizens to -fill a vacancy on its Investment Advisory Board. ff you are a resident Of the City of La Quinta and would like to serve your community, the position involves the following Investment advisory Boars! - The Investment Advisory Board is a five -member Board that reviews account statern en is and verifications to ensure accurate reporting as they relate to an investment activity. The Board makes recommendations concerning investment policy and procedures, investment contracts, and investment consultants. Selected candidates will have a background in the - investment field and/or related experience. La Quinta residency is a requirement' for board members. Interests members of the public may contact -the Office of the City Clerks at V60) 777-7103 for an official application and other information. The deadline for submitting applications is Tuesday, December 27, 2005 at 5:00 PM. The City Council is expected to consider applications and make. their selection at their reg 'far - meeting to be held on January 3, 2006. Chapter 2.70 INVESTMENT ADVISORY BOARD Page 1 of La Quinta Municipal Code ^ Up << Previous >> Next Main - Collapse ? Search # Print Title 2 ADMINISTRATION AND -PERSONNEL Chapter 2.70 INVESTMENT ADVISORY BOARD 2.70.010 General rules regarding appointment and terms. A. Except as set out below, see Chapter 2.06 for general provisions. B. The investment advisory board (the board) is a standing board composed of five members from the public that are appointed by city council. C. Background in the investment field and/or related experience is preferred. Background information will be requested and potential candidates must agree to a background check and verification. D. On an annual basis, in conjunction with the Political Reform Act disclosure statutes, or at any time if a change in circumstances warrants, each board member will provide the city council with a disclosure statement which identifies any matters that have a bearing on the appropriateness of that members service on the board. Such matters may include, but art not limited to, changes in employment, changes in residence or changes in clients. (Ord. 383 § 1, 2003: Ord. 287 § 1 (part) 1996; Ord. 268 § 1, 1995; Ord. 222 (part), 1993) 2.70.020 Board meetings. The board usually will meet monthly, but this schedule may be extended to quarterly meetings upon the concurrence of the board and the city council. The specific meeting dates will be determined by the board members and meetings may be called for on an as needed basis. (Ord. 336 § 1 (part), 2000: Ord. 287 § 1 (part), 1996; Ord. 222 (part), 1993) 2.70.030 Board functions. A. The principal functions of the board are: (1) review at least annually the city's investment policy and recommend appropriate changes; (2) review monthly treasury report and note compliance with the investment policy and adequacy of cash and investments for anticipated obligations; (3) receive and consider other reports provided by the city treasurer; (4) meet with the independent auditor after completion of the annual audit of the city's financial statements, and receive and consider the auditor's comments on auditing procedures, internal controls, and findings for cash and investment activities, and (5) serve as a resource for the city treasurer on matters such as proposed investments, internal controls, use of change of financial institutions, custodians, brokers and dealers. B. The board will report to the city council after each meeting either in person or through correspondence at a regular city council meeting. (Ord. 336 § 1 (part), 2000: Ord. 287 § 1 (part), 1996; Ord. 269 § 1, 1995: Ord. 222 (part), 1993) http://www.gcode.us/codes/laquinta/view.php?topic=2-2_70&showAll=1 2/2/2006