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04 Staff Report - Treasurer's Report February and March 2006DATE: TO: FROM: COUNCIL AGENDA REPORT May 10,2006 MAYORANDTOWNCOUNC~ LINDA LUBECK,TOWN TREASURER MEETING DATE:05/15/06 ITEM NO.Y SUBJECT:TREASURER'S REPORTS FOR FEBRUARY AND MARCH,2006 I I l I RECOMMENDATION: Accept reports as attached. DISCUSSION: Attached for your review and acceptance are the Treasurer's reports for February and March,2006. Prime increased to 7.75%on May 10,2006.Treasurer's funds remained fairly constant during this two month period.Interest rates continued to rise slightly,as did the Town's overall performance. The cash at Union Bank:is being reinvested into the market during the month of May,with the advice of MBIA. ENVIRONMENTAL ASSESSMENT: Is not a project defined under CEQA,and no further action is required. FISCAL IMPACT:None Attachments:Treasurer's reports dated May 10,2006. PREPARED BY:Linda L.Lubeck,Town Treasurer ~J- ~T-_Aown Manager Assistant Town Manager __Town Attorney Clerk~inance__Community Developplent Revised:5/11/06 8:44 am Distribution:Town Council;Town Manager;Finance Director Reformatted:5/30/02 i 1 Distribution:Town Clerk Town Manager Town Council Town of Los Gatos Treasurer's Report for the month ended March 31,2006 Submitted May 10,2006 by /2s' Linda L.Lubeck d- Meeting date:May 15,2006 Item No: I j ! I Town of Los Gatos Summary Investment Information March 31,2006 Weighted Average Portfolio Yield:3.65%Weighted Average Maturity (days)248 Portfolio Balance Benchmarks/References: Town's Average Yield LAIF Yield for month 3 mo.Treasury 6 mo.Treasury 2 yr.Treasury 5 yr.Treasury (most recent) Prime rate This Month $60,613,879 3.65% 4.14% 4.61% 4.78% 4.73% 4.79% 7.75%' Last Month $60,889,095 3.56% 4.04% 4.63% 4.75% 4.69% ,4.62% 7.50% One year ago .$52,810,947 2.60% 2.26% 2.37% 2.68% 3.25% 3.73% 5.25% Most recent'auctions of Freddie Mac or Fannie Mae Reference Notes: 3 yr.Fannie Mae (03/17/06)5.00% 2 yr.Freddie Mac (03/09/06)4.66% Portfolio Maturity Profile 1-2 years 23% 2 - 3 years 7% 3 - 5 years 2% I I; j J ! i Compliance:The Town's investments are in compliance with the To~n's investment policy dated August 9,2005 and also in compliance with the requirements of Section 53601 of the California State Code.Based on the information available,the Town has sufficient funds to meet the cash demands for the next six months. Page 1 Town of Los Gatos Portfolio Allocation &Treasurer's Fund Balances March 31,2006 Fund Balances -Beginning of Month/Period Receipts Disbursements Fund Balances -End ofMonth/Period Portfolio Allocation: UnionMM US Govt Agencies Local Agency Investment Fund Subtotal -Investments Reconciled Demand Deposit Balances Total Treasurer's Fund Month $60,889,095.37 2,527,817.87 (2,803,034.53) $60,613,878.71 7,221,390.16 31,326,490.32 18.672.180.70 57,220,061.18 3.393.817.53 $60,613,878.71 YTD $57,531,241.44 30,367,905.01 (27.285.267.74) $60,613,878.71 J I I $62,000,000 $61,000,000 $60,000,000 $59,000,000 $58,000,000 $57,000,000 $56,000,000 $55,000,000 $54,000,000 $53,000,000 $52,000,000 $51,000,000 $50,000,000 Portfolio Investment Allocation Local Agency Investment Fund 32.6% Treasurer's Fund Balances page 2 Town of Los Gatos Non-Treasury Restricted Fund Balances March 31,2006 Previous Balance Non-Treasury Funds: Downtown Parking District 12120102 Certificates of Participation Reserve Fund (Lot 4) Cert.of Participation Lease Payment Fund (Lot 4) Cert.of Participation 2002 Series A Const.Fund Cert.of Partidpation 2002 Series A Reserve Fund Cert.Of Participation 2002 Series A Interest Fund Cert.Of Participation 2002 Series A COl Fund Total Restricted Funds: 244,029.42 258,303.20 89,737.89 1,300,640.64 752,707.42 297.00 0.00 $2,645,715.57 $Q;2Q Ending Interest Withdrawals Balance 487.79 244,517.21 Nolet 773.70 259,076.90 Note 2 268.79 90,006.68 Note 3 1.37 0.04 1,300,641.97 Note 4 208.08 20.49 752,895.01 Note 4 0.78 0.01 297.77 0.00 0.00 0.00 Nole4 $ill21!.$20.54 $2,647,435.54 I I I ~ j i These accounts are not part of the Treasurer's fund balances reported elsewhere in this report,as they are for separate and distinct entities. Note 1:This account include redemption accounts set up for the repayment of interest and principal on outstanding bond coupons for Parking Assessment District '3',as well as Reserve Funds set up as required by the original Bond resolution. Note 2:The reserve fund was a requirement of the original certificates of participation agreement when Lot 4 was built.It helps to guarantee payment of the lease payments should the Town not make payment Note 3:The lease payment fund receives the lease payments from the Town monthly for the lease of Lot 4.It holds the funds until payments on the certificates of participation are due semi-annually. Note 4:The three funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the next few years,reserve funds which will guarantee the payment of lease payments,and a third fund for the disbursement of lease payments and initial delivery costs. Page 3 I I I I 1 I l l Interest received from Investments Add:Interest accrued at end of period (see page 5) Less:Interest accrued at beginning of period Interest earned on investments Town of Los Gatos Statement of Interest Earned March 31,2006 Current Fiscal Month Year to Date 72,092.95 1,207,804.48 . 158,155.76 158,155.76 (54,071.25)(33,323.60) $176,177.46 $1,332,636.64 Page 4 Town of Los Gatos Inactive Deposits by Institution Market to Cost Position Report March 31,2006 Inactive Deposits by Institution Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest ~Institution Security Date Cost Date E[apsed Maturity Invested Maturity Earned Received Accrued 928 FNMA Coupon Note 08126103 895,320.00 04128106 948 28 976 2.83%65.752.33 51,319.30 14,433.03 933 FHLB Coupon Note 08118/04 996,420.00 05115106 590 45 635 2.46%39,625.80 27,937.50 11,688.30 920 FNMA Coupon Note.06/22/01 2,001,740.00 06115106 1743 76 [819 5.23%499,955.46 470,484.30 29,471.16 9'39 FFCB Coupon Note 03/16/05 498,560.00 12111/06 380 255 635 3.80%19,723.85 13,342.01 6,381.84 934 FNMA Coupon Note 08/18/04 1,491,000.00 01/12/07 590 287 877 3.06%73,760.49 58,800.00 14,960.49 940 FHLB Coupon Note 03/16105 543,228.45 02i09/07 380 315 695 3.93%22,226.23 13,743.65 8,482.58 929 FNMA Coupon Note 02109104 2,000,000.00 05/09107 781 404 1185 3.00%128,383.56 120,000.00 8.383.56 942 FHLB Coupon Note 05116105 999,000.00 05/[6107 319 411 730 4.04%35,299.38 19,950.00 15,349.38 943 FNMA Coupon Note 07/01105 749,032.50 051J7107 273 412 685 3.82%21,372.98 10,625.00 10,747.98 946 FHLMC Discount Note 08115105 1.500,000.00 J 1115107 228 594 822 4.50%42,[26.90 33,750.00 8,376.90 930 FHLMC Coupon Note 02124104 2,505,250.00 08124107 766 511 1277 3.16%165,929.64 .161,000.00 4,929.64 944 FNMA Coupon Note 07/01/05 984.074.54 12/15/07 273.624 897 3.81%28,020.81 14,236.ll 13,784.70 947 FHLMC Discount Note 08/15105 999,700.00 02115/08 228 686 914 4.51%28,182.34 22,500.00 5,682.34 945 FHLB Coupon Note 07/01/05 755,975.25 04/18/08 273 749 1022 3.80%21,503.23 9,195.31 12,307.92 FHLMC Coupon Note 06125/03 664,117.19 04/15106 1010 15 1025 1.576%28,962.06 35,592.01 (6,629.95) FNMA Coupon Note 06127103 504,090.00 04128/06 1008 28 1036 2.315%32,227.51 30,661.46 1,566.05 FMAC Z Coupon 07129105 193,927.92 05/10/06 245 40 285 4.0.10%5,219.85 5,219.85 FHLB Coupon Note 06124103 658,677.50 05115106 1011 45 1056 1.625%29,647.25 33,034.90 (3,387.65) .FHLMC Coupon Note 06127103 500,930.00 06102106 1008 63 1071 2.076%28,719.18 26,128.47 2,590.71 FHLMC Coupon Note 06/30103 387,296.88 07115/06 1005 106 1111 1.872%19,962.87 48,927.08 (28,964.21) FNMA Coupon Note 06110/04 297,213.00 08/11106 659 133 792 3.177%17,048.16 13,772.92 3,275.24 FHLB Coupon Note 06/30103 400,000.00 09129/06 1005 182 [187 2.200%24,230.14 20,200.00 4,030.14 FHLMC Coupon Note 02122/05 197,629.00 10/15/06 402 198 600 3.507%7,633.43 3,559.72 4,073.71 FHLB Coupon Note 06/24/03 688,076.80 11115/06 1011 229 1240 1.825%34,782.28 63,140.00 (28,357.72) FFCB Coupon Note 06125/03 660,954.00 12/19106 1010 263 1273 1.844%33,725.68 72,637.50 (38,911.82) FHLB Coupon Note 06130103 400,000.00 12129106 1005 273 1278 2.225%24,505.48 22,250.00 2,255.48 FNMA Coupon Note 02122105 195.358.6.0 02115/07 402 321 723 3.363%7,235.90 4.657.64 2,578.26 FHLMC Coupon Note 06125/03 662,652.00 03115/07 1010 349 1359 1.946%35,682.63 79.625.00 (43,942.37) FNMA Coupon Note 06130103 333,597.66 04115107 1005.380 1385 2.150%19,748.52 36.093.75 (16,345.23) FHLMCMlN Coupon Note 06127103 402,556.00 05129107 1008 424 1432 2.808%31,216.99 29.033.33 2,183.66 FNMA Coupon Note 06130/03 375,219.60 07115107 1005 471 1476 2.359%24,371.75 37,807.29 (13,435.54) FHLB Coupon Note 06124/03 672,825.60 11/15/07 1011 594 [605 2.257%42,062.24 53,573.33 (1I.5[1.09) FNMA Coupon Note 06/24/03 299,475.00 12/24/07 lOll 633 1644 2.528%20,969.88 18,750.00 2,219.88 FNMA Coupon Note 06/27/03 649,785.94 01115/08 1008 655 1663 2.492%44,718.38 52,211.00 (7,492.62) FHLMC Coupon Note 09/30104 198,630.00 02125108 547 696 1243 3.462%10,305.44 9,118.06 1,187.38 FHLMC Coupon Note 06126/03 657,396.09 03/15/08 1009 715 1724 2.294%41,688.75 48,236.08 (6,547.33) FHLB Coupon Note 06/30103 286,162.50 04/15108 1005 746 1751 2.633%20,746.11 33.687.50 (12.941.39) FHLB Coupon Note 06126103 661,764.30 05113/08 1009 774 1783 2.507%45,862.31 82,025.61 (36,163.30) FHLMCMlN Coupon Note 06130103 228,298.00 06/13108 1005 805 1810 2.894%18,191.72 15,513.82 2,677.90 FHLMC Coupon Note 06124103 500.000.00 06/18108 1011 810 1821 2.750%38,085.62 34,375.00 3,710.62 FNMA Coupon Note 09/30/04 198,597.00 08115/08 547 868 1415 3.442%10.244.20 8,937.50 1,306.70 FNMA Coupon Note 1lI16/04 199,216.00 09115/08 500 899 1399 3.866%10,550.26 9,979.17 571.09 FNMA Coupon Note 01119/05 248,157.50 09/15/08 436 899 1335 3.974%11,780.10 10,833.33 946.77 FNMA Coupon Note 1lI16/04 199,552.00 11/17/08 500 962 1462 3.936%10,759.41 7,771.53 2,987.88 FHLMC Coupon Note 07107/05'296,403.00 01112/09 267 1018 1285 4.313%9,351.48 6,619.79 .2,731.69 FNMA Coupon Note 01121/05 242,400.00 03/16/09 434 1081 1515 3.930%1l,327.19 9,006.08 2.321.11 FHLMC Coupon Note 061J7105 300,198.00 07130/09 287 1217 1504 4.359%10,289.25 8,130.21 2,159.04 FHLMC Coupon Note 08101105 298,332.00 07130109 242 1217 1459 4.527%8,954.32 6,526.04 2,,428.28 FHLMC Coupon Note 06/14105 298,683.00 09101109 290 1250 1540 4.237%10,054.82 8,834.37 1,220.45 FHLMC·Coupon Note 01121105 149,686.50 09101109 434 1250 1684 4.180%7.439.71 6.875.00 564.71 FHLMC Coupon Note 06114105 299,331.00 01125/10 290 1396 1686 4.431%10,538.01 8,057.29 2,480.72 Subtotal 31,326.490.32 .UnionMM 7,221,390.16 30 30 4.26%25;284.76 25,284.76 LAIF N/A 12131105 18,672,180.70 03131/06 90 0 90 4.14%165.234.10 165,234.10 57,220.061,18 248 3.65%2,181,220.72 2,023,064.96 158,155.76 Maturity Profile Amount Percent 0-1 year 38,730,762.20 67.69% 1-2 years 13,326,542.93 23.29% 2-3 years 3,816,525.55 6.67% 3-5 years 1.346.230.50 2.35% 57,220,061.18 ~% J Market to Cost Position Report Market Amonized Market Unrealized ~Institution Security Price Cost Value-Gain (Loss) ~ 'JI Union Bank Assets 31,326,490.32 30,417,980.50 (908.509.82)I J UnionMM .7,22/.390.16 7,221,390.16 0.00 ,LAIF 18,672,180.70 18,672,180.70 0.00 -Soulee:Treasury and Agency Obligations -Union Bank of CaliforniaITotals:57,220.061.18 56,311,551.36 pS"e ,fI08,509.82)LAIF balances per Local Agency Investment Fund monthly statement 1 I l I ~ j 1 Distribution:Town Clerk Town Manager Town Council Town of Los Gatos Treasurer's Report for the month ended February 28,2006 Submitted May 10,2006 by ~ Linda L.Lubeck U Meeting date:May 15,2006 Item No: Town of Los Gatos Summary Investment Information February 28,2006 Weighted Average Portfolio Yield:3.56%Weighted Average Maturity (days)275 Portfolio Balance Benchmarks/References: Town's Average Yield LAIF Yield for month 3 mo.Treasury 6 mo.Treasury 2 yr.Treasury ~yr.Treasury (most recent) Prime rate This Month $60,889,095 ·3.56% 4.04% 4.63% 4.75% 4.69% 4.62% 7.50% Last Month $61,146,352 3.43% 3.96% 4.49% 4.60% 4.43% 4.37% 7.50% One year ago $53,046,566 2.66% 2.37% 2.77% 3.01% 3.50% 3.62% 5.50% Most recent auctions of Freddie Mac·or Fannie Mae Reference Notes: 3 yr.Freddie Mac (02/13/06)4.88% 2 yr.Freddie Mac (01/13/06)4.63% 2 -3 years 7% Portfolio Maturity Profile 3 -5 years 3% 1- 2 years 23% I J I I Compliance:The Town's investments are in compliance with the Town's investment policy dated August 9,2005 and also in compliance with the requirements of Section 53601 of the California State Code.Based on the information available,the Town has sufficient funds to meet the cash demands for the next six months. Page 1 Town of Los Gatos Portfolio Allocation &Treasurer's Fund Balances February 28,2006 Fund Balances -Beginning of Month/Period Receipts Disbursements Fund Balances -End of Month/Period Portfolio Allocation: UnionMM US Govt Agencies Local Agency Investment Fund Subtotal -Investments Reconciled Demand Deposit Balances Total Treasurer's Fund Month $61,146,351.87 3,176,456.32 (3,433,712.82) $60,889,095.37 6,000,452.10 32,476,735.43 18.672.180.70 57,149,368.23 3.739.727.14 $60,889,095.37 YTD $57,531,241.44 27,840,087.14 (24.482.233.21) $60,889,095.37 Portfolio Investment Allocation Local Agency Investment Fund 32.7% Treasurer's Fund Balances $62,000,000 $61,000,000 $60,000.000 $59.000.000 $58.000,000 $57,000,000 $56,000.000 $55,000,000 $54,000,000 $53,000,000 $52,000,000 $51,000,000 $50,000,000 ~ .D &: page 2 ~>o Z 1 ! l j Town of Los Gatos Non-Treasury Restricted Fund Balances February 28,2006 Previous Ending Balance Deposits Interest Withdrawals Balance Non-Treasury Funds: Downtown Parking District 12120/02 243,490.56 538.86 244,029.42 Nolet Certificates of Participation Reserve Fund (Lot 4)257,509.70 793.50 258,303.20 Nole2 Cert.of Participation Lease Payment Fund (Lot 4)126,145.82 329.57 36,737.50 89,737.89 Nole3 Cert.of Participation 2002 Series A Const.Fund 1,288,761.70 11,878.98 0.04 1,300,640.64 Nole4 Cert.of Participation 2002 Series A Reserve Fund 752,516.81 213.28 22.67 752;707.42 Nole4 Cert.Of Participation 2002 Series A Interest Fund 227,728.75 331.54 227,763.29 297.00 Cert.Of Participation 2002 Series A COl Fund 0.00 0.00 0.00 0.00 Nole4 Total Restricted Funds:$2,896,153.34 $Q;2Q $14,085.73 $264,523.50 $2,645,715.57 These accounts are not part of the Treasurer's fund balances reported elsewhere in this report,as they are for separate and distinct entities. Note 1:This account include redemption accounts set up for the repayment of interest and principal on outstanding bond coupons for Parking Assessment District '3',as well as Reserve Funds set up as required by the original Bond resolution. Note 2:The reserve fund was a requirement of the original certificates of participation agreement when Lot 4 was built.It helps to guarantee payment of the lease payments should the Town not make payment. Note 3:The lease payment fund receives the lease payments from the Town monthly for the lease of Lot 4.It holds the funds until payments on the certificates of participation are due semi-annually. Note 4:The three funds for the Certificates of Participation 2002 Series A consist of construction funds which will be expended over the next few years,reserve funds which will guarantee the payment of lease payments,and a third fund for the disbursement of lease payments and initial delivery costs. Page 3 l ~ 1 Interest received from Investments Add:Interest accrued at end of period (see page 5) Less:Interest accrued at beginning of period Interest earned on investments Town of Los Gatos Statement of Interest Earned February 28,2006 Current Fiscal Month Year to Date 172,216.19 1,135,711.53 54,071.25 54,071.25 (54,876.29)(33,323.60) $171,411.15 $1,156,459.18 Page 4 Town of Los Gatos Inactive Deposits by Institution Market to Cost Position Report February 28,2006 Inactive Deposits by Institution Deposit Amortized Maturity Days Days to Days Yieid to Interest Interest Interest ~Institution Security Date 'Cost Date Elapsed Maturity Invested Maturity Earned Received Accrued 938 FHLMC Discount Note 03/16/05 483,436.Il 03/07/06 349 7.356 3.35%15,485.19 15,485.1 9 928 FNMA Coupon Note 08126103 895,320.00 04/28/06 917 59 976 2.83%63,602.20 51,319.30 12,282.90 933 FHLB Coupon Note 08118104 996,420.00 05115/06 559 76 635 2.46%37,543.76 27,937.50 9,606.26 920 FNMA Coupon Note 06122101 2,001,740.00 06115/06 1712 107 1819 5.23%491,063.54 470,484.30 20,579.24 939 FFCB Coupon Note 03/16105 498,560.00 12111106 349 286 635 3.80%18,114.80 13,342.01 4,772.79 934FNMA Coupon Note 08/18104 1,491,000.00 01112107 559 318 877 3.06%69,884.94 58,800.00 Il,084.94 940 FHLB Coupon Note 03116105 543,228.45 02109/07 349 346 695 3.93%20,413.04 13,743.65 6,669.39 929 FNMA Coupon Note 02109/04 2,000.000.00 05/09/07 750'435 1185 3.00%123,287.67'120,000.00 3,287.67 942 FHLB Coupon Note'05/16105 999,000.00 05/16107 288 442 730 4.04%31,869.03 19,950.00 Il,919.03 943 FNMA Coupon Note 07/01/05 749,032.50 05/17/07 242 443 685 3.82%18,946.01 10,625.00 8,321.01 946 FHLMC Discount Note 08/15/05 1,500,000.00 11/15107 197 625 822 4.50%36,399.12 33,750.00 2,649.12 930 FHLMC Coupon Note 02124/04 2,505,250.00 08/24/07 735 542 1277 3.16%159,214.47 161,000.00 (1,785.53) 944 FNMA Coupon Note 07/01105 984,074.54 12/15/07 242 655 897 3.81%24,838.96 14,236.11 10,602.85 947 FHLMC Discount Note 08115/05 999,700.00 02115/08 197 .717 914 4.51%24,350.53 22,500.00 1,850.53 945 FHLB Coupon Note 07/01105 755,975.25 04/18/08 242 780 1022 3.80%19,061.47 9,195.31 9,866.16 FFCB Coupon NOle 06125103 666,809.00 03/15/06 979 15 994 1.523%27,239.00 36,111.11 (8,872.11) FHLMC Coupon Note 06125/03 664,117.19 04115/06 979 46 1025 1.576%28,073.13 35,592.01 (7,518,88) FNMA Coupon Note 06127/03 504,090.00 04128106 977 59 1036 '2.315%31,236.39 30,661.46 574.93 FMAC ZCoupon 07129/05 193,927.92 05110/06 214 71 285 4.010%4,559.38 4,559.38 FHLB Coupon Note 06124103 658,677.50 05/15/06 980 76 1056 1.625%28,738.19 33,034.90 (4,296.71) FHLMC Coupon Note 06127/03 500,930.00 06/02106 977 94 1071 2.076%27,835.95 26,128.47 1,707.48 FHLMC Coupon Note 06130/03 387,296.88 07/15/06 974 137 Ilil 1.872%19,347.10 48,927.08 (29,579.98) FNMA Coupon Note 06110/04 297,213.00 08/11106 628 164 792 3.177%16,246.20 13,772.92 2,473.28 FHLB Coupon NOle 06130/03 400,000.00 09129/06 974 213 ]]87 2.200%23,482.74 20,200.00 3,282.74 FHLMC Coupon Note 02122105 197,629.00 10/15/06 371 229 600 3.507%7,044.78 3,559.72 3,485.06 FHLB Coupon Note 06124/03 688,076.80 11115/06 980 260 .1240 1.825%33,715.76 63,140.00 (29,424.24) FFCB Coupon Note 06125/03 660,954.00 12119/06 979 294 1273 1.844%32,690.53 72,637.50 (39,946.97) FHLB Coupon Note 06/30/03 400,000.00 12129/06 974 304 1278 2.225%23,749.59 22,250.00 1,499.59 FNMA Coupon Note 02122105 195,358.60 02115/07 371 352 723 3.363%6,677.91 4,657.64 2,020.27 FHLMC Coupon Note 06125/03 662,652.00 03115/07 979 380 1359 1.946%34,587.42 65,000.00 (30,412.58) FNMA Coupon Note 06/30/03 333,597.66 04/15/07 974 411 1385 2.150%19,139.37 36,093.75 (16,954.38) FHLMCMTN Coupon Note 06127/03 402,556.00 OS/29/07 977 455 1432 2.808%30,256.95 29,033.33 1,223.62 FNMA Coupon Note 06130/03 375,219.60 07115/07 974 502 1476 2.359%23,619.98 37,807.29 (14,187.31) FHLB Coupon Note 06124/03 672,825.60 11115/07 980 625 1605 2.257%40,772.49 53,573.33 (12,800.84) FNMA Coupon Note 06124/03 299,475.00 12124/07 980 664 1644 2.528%20,326.89 18,750.00 1,576.89 FNMA Coupon Note 06127/03 649,785.94 01115/08 977 686 1663 2.492%43,343.Il 52,211.00 (8,867.89) FHLMC Coupon Note 09/30/04 198,630.00 02125/08 516 727 1243 3.462%9,721.40 9,118.06 603.34 FHLMC Coupon Note 06126/03 657,396.09 03/15/08 978 746 1724 2.294%40,407.92 39,367.33 1,040.59 FHLB Coupon Note 06130/03 286,162.50 04J1'5/08 974 777 1751 2.633%20,106.18 33,687.50 (13,581.32) FHLB Coupon Note .06126103 661,764.30 05/13/08 978 805 1783 2.507%44,453.26 82,025.61 (37,572.35) FHLMCMTN Coupon Note 06130/03 228,298.00 06/13/08 974 836 1810 2.894%17,630.59 15,513.82 2,116.77 FHLMC Coupon Note 06124/03 500,000.00 06/18/08 980 841 1821 2.750%36,917.81 34,375.00 2,542.81 FNMA Coupon Note 09/30104 198,597.00 08/15/08 516 899 1415 3.442%9,663.63 8,937.50 726.13 FNMA Coupon Note 11116/04 199,216.00 09/15/08 469 930 1399 3.866%9,896.14 6,229.17 3,666.97 FNMA Coupon Note 01119/05 248,157.50 09115/08 405 930 1335 3.974%10,942.52 6,145.83 4,796.69 FNMA Coupon Note 11116104 199,552.00 11117/08 469 993 1462 3.936%10,092.32 7,771.53 2,320.79 FHLMC Coupon Nole 07/07/05 296,403.00 01112109 236 1049 1285 4.313%8,265.73 6,619.79 1,645.94 FNMA Coupon Note 01121105 242,400.00 03/16/09 403 1112 1515 3.930%10,518.10 5,099.83 5,418.27 FHLMC Coupon Note 06117105 300,198.00 07/30/09 256 1248 1504 4.359%9,177.87 8,130.21 1,047.66 FHLMC Coupon Note 08101105 298,332.00 07130/09 2Il 1248 1459 4.527%7,807.28 6,526.04 1,281.24 FHLMC Coupon Note 06114105 298,683.00 09/01109 259 1281 1540 4.237%8,979.99 2,646.87 6,333.12 FHLMC Coupon Note 01121/05 149,686.50 09/01109 403 1281 1684 4.180%6,908.30 3,781.25 3,127.05 FHLMC Coupon Note 06114105 299,331.00 01125110 259 1427 1686 4.431%9,411.53 8,057.29 1,354.24 Subtotal 32,476,735.43 UnionMM 6,000,452.10 30 30 4.08%20,122.06 20,122.06 LAIF N/A 12/31/05 18,672,180.70 03/31/06 59 31 90 4.04%100,348.34 100,348.34 57,149,368,23 275 3.56%2.068,128.57 2,014,057.32 54,071.25 I Maturity Profile Amount Percent 0-1 year 37,997,417.25 66.49%!1-2 years 13,331,798.84 23.33% 1 2-3 years 4,231,521.64 7.40% 3-5 years 1.588.630.50 2.78%I 57,149,368.23 ~% i Market 10 Cost Position Report Market Amortized Market Unrealized .Qoo..Institution Security Price Cost Value*Gain (Loss) !Union Bank Assets 32,476,735.43 31,593,476.30 (883,259.13)J UnionMM 6,000.452.10 6,000,452.1 0 0.00, LAIF 18,672,180.70 18,672,180.70 0.00 •Source:Treasury and Agency Obligations -Union Bank of California 1 Tolals:57,149,368,23 56,266,109.10 page ~83.259,13)LAIF balances per Local Agency Investment Fund monthly stalement 1 I !