04 Treasurer's Report - February & March 2004
DATE: TO: FROM: COUNCIL AGENDA REPORT April 30, 2004 LINDA LUBECK, TOWN TREASURER MEETING DATE: 05/03';04 ITEM NO. '-I SUBJECT: TREASURER'S REPORTS
FOR FEBRUARY & MARCH, 2004 RECOMMENDATION: Accept reports as attached. . DISCUSSION: Attached for your review are the Treasurer's reports for the months of February and March, 2004,
. as well as two revised pages for January, 2004. Highlights are as follows: February, 2004 (and revised January, 2004): Two investments matured during February, 2004 and were replaced
with two new investments with maturities of approximately three years. The yield ofthe new investments was significantly lower than those replaced, but still fairly good in today's climate.
The yields ofthe two new investments (#929 and #930) are 3% and 2.79%. March, 2004: A couple of smaller investments inside the 8EI. portfolio were called dur.ing March, 2004 and the
funds were not reinvested before the end of the month. Thus the 8m cash is higher than normal. The The funds will be reinvested in April. Overall, interest rates and yields held fairly
steady during the first quarter of 2004. The Federal Reserve is not expected to make any moves for the foreseeable future and thus yields possible will not be changing any time soon.
PREPARED BY: LindaL. Lubeck, Town Treasurer if." Reviewed by: Manager __Assistant Town Manager I. own Attorney __Community Development
Revised: 4/30104 11 :42 am Reformatted: 5/30102
PAGE 2 SUBJECT: TREASURER'S REPORTS FOR FEBRUARY & MARCH, 2004 ENVIRONMENTAL ASSESSMENT: Is not a project defined under CEQA,
and no further action is required. FISCAL IMPACT: None Attachments: Treasurer's reports dated April 24, 2004 Distribution: Town Council; Town Manager; Finance Director
Distribution: Town Clerk Town Manager ToWn Council Town of Los Gatos Treasurer's Report for the month ended March 31,2004 Submitted April 24, 2004 by Linda L. Lubeck Meeting date; May
3, 2004 Item No:
Town of Los Gatos Summary Investment Information March 31, 2004 ,eighted Average Portfolio Yield: 2.48% Weighted Average Maturity (days) 570 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 $49,862,617 2.48% 1.47% 0.96% 1.01% 1.52% 2.70%
4.00% Last Month $48,728,240 2.45% 1.44% 0,95% 1.02% 1,68% 3.03% 4.00% One year ago $47,472,995 3.29% . 1.98% 1.21% 1.11% 1.69% 3.03% 4.25% Most recent auctions of Freddie Mac or Fannie
Mae Reference Notes: 2 yr. Freddue Mac (02/06/04) 1.88% 3 yr. Fannie Mae (02/20/04) 2.38% 3·5 years 21% Portfolio Maturity Profile 1·2 years 17% Compliance: The Town's investments are
in compliance with the Town's investment policy dated June24, 2002 and also in compliance with the requirements of Section 53601 ofthe California State Code. Based on the information
available, the Town has sufficient funds to meet the cash demands for the next six months.
Town of Los Gatos Portfolio Allocation & Treasuer's Fund Balances March 31,2004 Fund Balances -Beginning ofMonthlPeriod Receipts Disbursements Fund Balances -End ofMonthlPeriod Portfolio
Allocation: SEICash US Govt Agencies Local Agency Investment Fund Subtotal-Investments Reconciled Demand Deposit Balances Total Treasurer's Fund Month $48,728,239.54 3,824,448.42 (2,690,070.61)
$49,862,617.35 826,984.56 33,164,126.99 11.057.214.83 45,048,326.38 4,814.290.97 $49,862,617.35 YTD $49,655,650.00 31,208,002.96 (31.001.035.61) $49,862,617.35 LocalAgency Investment
Fund 24.5% Portfolio Investment Allocation SEI Cash Treasurer's Fund Balances $52,000,000 $51,000,000 $50,000,000 $49,000,000 $48,000,000 $47,000,000 $46,000,000 $45,000,000 $44,000,000
19 0"1 oi0"1 o*o
Town of Los Gatos Non-Treasury Restricted Fund Balances March'31,2004 Previous Balance Non-Treaswy Funds: Downtown Parking District 12/20/02 Certificates ofParticipation Reserve Fund
(Lot 4) Cert. of Participation Lease Payment Fund (Lot 4) Cert. ofParticipation 2002 Series A Const. Fund Cert. ofParticipation 2002 Series A Reserve Fund Cert. OfParticipation 2002
Series A Interest Fund "Cert. OfParticipation 2002 Series A cor Fund Total Restricted Funds: 223,259.61 254,136.36 80,701.21 2,910,140.51 694,360.09 0.45 0.00 $4,162,598.23 41,264.49
Ending Interest Withdrawals Balance 1,249.94 224,509.55 Nole! 100.29 254,236.65 Nofel 19.53 121,985.23 NoteJ 14,451.44 17;979.23 2,906,612.72 Note 4 4.40 4.10 694,360.39 Note 4 2.44
2.36 0.53 0.00 0.00 0.00 Note 4 $15,828.04 $17,985.69 $4,201,705.07 These accounts are not part of theTreasurer'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 arequirement ofthe 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 ofl.Qt 4. It holds the fimds until payments on the certificates of participation are due semi-annually. Note 4: The three fimds for the Certificates otParticipation 2002
Series A consist ofconstruction fimds which will be expended over the next few years, reserve fimds which will guarantee the payment of lease payments, and a third fimd for the disbursement
of lease payments and initial delivery costs. . Page 3
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, 2004 Current Fiscal Month Year to Date 77,964.31 1,162,260.25 119,722.00 119,722.00 (103,299.24) (471,723.72) $94,387.07 $810,258.53 Page 4
..--._.--------_.__...._-_.-_. ---_.- • o· •.•_. _ •• _.__••". --. _.-Town ofLos Gatos Inactive Deposits by Institution Market to Cost Position Report March 31, 2004
--, )ctive Deposits by Institution Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest Dep Institution Security Date Cost Date Elapsed Maturity Invested
Maturity Earned Received Accrued 910 FHLB Coupon Note 11/02199 1,239,06250 08113104 1611 135 1746 6.46% 353,287.61 334,852.43 18,435.18 921 FHLB Coupon Note 09/10/01 2,021,440.00 08113104
933 135 1068 4.23% 218,5n.22 224,569.44 (5,992.22) 923 FNMA Coupon Note 02/25102 1,998,526.00 03/15105 765 349 1114 3.90% 163,358.48 159,305.56 4,052.92 924FHLMC Coupon Note 05/16/02
1,999,340.QO 06/15105 685 441 1126 4.13% 155,119.12 134,347.22 20,771.90 -927 FNMA Coupon Note 08126103 1,071,900.00 11114105 218 593 811 2.37% 15,171.51 10,180.80 4,990.71 928 FNMA
Coupon Note 08126103 895,320.00 -04128/06 218 758 976 2.83% 15,120.26 4,069.30 11,050.96 920 FNMA Coupon Note 06122101 2,001,740.00 06/15106 1013 806 1819 5.23% 290,565.05 260,484.30
30,080.75 929 FNMA Coupon Note 02109104 2,000,000.00 05109/07 51 1134 1185 3.00% 8,383.56 8,383.56 930 FHLMC Coupon Note 02/24/04 2,505,250.00 08124/07 36 1241 1277 2.79% 6,904.11 6,904.11
SEICash 826,984.56 4,960.78 4,582.67 378.11 SRIInvestments 17,431,554.49 Various 854 1.85% 246,264.90 266,111.60 (19,846.70) LAIF N/A 12131/03 11,057,214.83 03131104 91 0 91 1.47% 40,512.72
40,512.72 45,048,326.38 570 2.48% 1,518,225.32 1,398,503.32 119,722.00 Maturity Profile Amount Percent 0-1 year 19,424,950.96 43.12% 1-2 yean 7,627,190.36 16.93% 2-3 yean 8,423,854.37
18.70% 3-5 years 9,572,330.69 21.25% 45,048,326.38 100.00% Market to Cost Position Report M.arlcet Amortized :Market Unrealized .hstitution Security Price Cost Value-Gain (Loss)
910 FHLB Coupon Note 102.313 1,239,062.50 1,278,912.50 921 FHLB Coupon Note 101.594 2,021,440.00 2,031,880.00 10,440.00 923 FNMA Coupon Note 102.750 1,998,520.00 2,055,000.00
56,480.00 924 FHLMC Coupon Note 103.688 1,999,340.00 2,073,760.00 74,420.00 927 FNMA Coupon Note 100.156 1,071,900.00 1,081,684.80 9,784.80 928 FNMA Coupon Note 100.219 895,320.00 901,971.00
6,651.00 920 FNMA Coupon Note 107.250 2,001,740.00 2,145,000.00 143,260.00 929 FNMA Coupon Note 100.750 2,000,000.00 2,015,000.00 15,000.00 930 FHLMC Coupon Note 100.000 2,505,250.00
2,500,000.00 (5,250.00) 0.00 Subtotal-15,732,572.50 16,083,208.30 350,635.80 0 0.00 0.00 0.00 SRI 17,431,554.49 17,202,547.35 (229,007.14) SEICash 826,984.56 826,984.56 0.00 NlALAlF
NlA 11,057,214.83 11,057,214.83 0.00 Purchased Int 0.00 0.00 0.00 Totals: 45,048,326.38 45,169,955.04 121,628.66 * Source: Treasury and Agency Obligations -Union Bank of Califomia LAlF
balances per Local Agency Investment Fund monthly statement.
SEI Investments Account Market to Cost Position Report March 31, 2004 Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest Institution Security Date Cost
Date Elapsed Maturity IrtIiested Maturity Earned Received Accrued FFCB Coupon Note 06/27/03 550,000.00 09/27/04 278 180 458 1.000% 4,189.04 4,125.00 64.04 FHLB' Coupon Note 06130/03
514,715.00 III15/04 275 229 504 1.208% 4,684.61 6,328.12 (1,643.51) FHIMC Coupon Note 06/25/03 556,316.41 01115/05 280 290 570 1.130% 4,822.42 5,729.21 (906.79) FHIMC CoUpon Note 06/27/03
660,697.66 02/15/05 278 321 599 1.359% 6,838.71 15,583.97 (8,745.26) FHLB Coupon Note 06/26/03 665,362.50 04/15/05 279 380 659 1.064% 5,411.42 3,247.29 2,164.13 FHLB Coupon Note 06123/03
552,634.50 05/13/05 282 408 690 1.220% 3,231.25 1,977.75 FHLMC Coupon Note 06130/03 663,493.36 06/15/05 275 441 716 1.482% 7,408.40 12,271.87 (4,863.47) FHLB Coupon
Note 06/24/(}3 672,743.50 08/15/05 281 502 783 1.335% 6,914.24 12,512.50 (5,598.26) FHLB Coupon Note 06/24/03 683,345.00 IIIi5/05 281 594 875 1.432% 7,533.49 9,228.65 (1,695.16) FHLMC
Coupon Note 06130/03 651,562.50 01115/06 275 655 930 1.771% 8,693.90 17,062.50 (8,368.60) FFCB Coupon Note 06/25/03 666,809.00 03/15/06 280 714 994 1.523% 7,790.52 Il,736.11 (3,945.59)
FHLMC Coupon Note 06/25/03 664,117.19 04/15/06 280 . 745 1025 1.576% 8,029.09 4,717.01 3,312.08 FNMA Coupon Note 06/27/03 . 504,090.00 04/28/06 278 758 1036 2.315% 8,888.14 4,411.46
4,476.68 FHLB Coupon Note 06/24/03 658,677.50 05/15/06 281 775 1056 1.625% 8,240.24 5.499.90 2,830.34 FHLMC Coupon Note 06/27/03 500,930.00 06/02/06 278 793 1071 2.076% 7,920.57 4,628.47
3,292' -FHLMC Coupon Note 06130/03 387,296.88 07/15/06 275 836 1111 1.872% 5,462.48 10,427.08 (4,964 FHLB Coupon Note 06130/03 400,000.00 09/29/06 275 912 1187 2.200% 6,630.14 4,040.00
2,590.h FHLB Coupon Note 06/24/03 688,076.80 III15/06 281 959 1240 1.825% 9,667.48 10,340.00 (672.52) FFCB Coupon Note 06/25/03 660,954.00 12/19/06 280 993 1273 1.844% 9,349.69 14,137.50
(4,787.81) 4,787.81) FHLB Coupon Note 06/30/03 400,000.00 12/29/06 275 1003 1278 2.225% 6,705.48 4,450.00 2,255.48 FHLMC Coupon Note 06/25/03 662,652.00 03/15/07 280 1079 1359 1.946%
9,892.21 21;125.00 (11,232.79) FNMA Coupon Note 06130/03 333,597.66 04/15/07 275 1110 i385 2.150% 5,403.83 4,593.75 810.08 FHLMC MTN Coupon Note 06/27/03 402,556.00 OS/29/07 278 1154
1432 2.808% 8,609.45 5,033.33 3,576.12 FNMA Coupon Note 06130/03 375,219.60 07/15/07 275 1201 1476 2.359% 6,668.89 8,057.29 (1,388.40) FHLB Coupon Note 06/24/03 672,825.60 11115/07 281
1324 1605 2.257% 11,690.89 8,773.33 2,917.56 FNMA Coupon Note .06/24/03 299,475.00 12/24/07 281 1363 1644 2.528% 5,828.42 3,750.00 2,078.42 -FNMA Coupon Note 06/27/03 649,785.94 01115/08
278 1385 1663 2.492% 12,333.04 11,261.00 1,072.04 FHLMC Coupon Note 06/26/03 657,396.09 03/15/08 279 1445 1724 2.294% 1l,527.41 12,761.08 (1,233.67) FHLB Coupon Note 06130/03 286,162.50
04/15/08 275 1476 1751 2.633% 5,676.80 4,287.50 1,389.:10 FHLB Coupon Note 06/26/03 661,764.30 05/13/08 279 1504 1783 2.507% 12,681.45 13,112.61 (431.16) FHLMCMTN Coupon Note 06130/03
228,298.00 06/13/08 275 1535 1810 2.894% 4,977.83 2,863.82 2,114.01 FHLMC Coupon Note 06/24/03 500,000.00 06/18/08 281 1540 1821 2.750% 10,585.62 6,875.00 3,710.62 17,431,554.49 . 854
1.852% 246,264.90 266,11 1.60 (19,846.70) Cash 826,984.56 -4,960.78 4,582.67 378.11 251,225.68 270,694.27 (19,468.59) 18,258,539.05
Distribution: Town Clerk To.wn Manager Town Council Town of Los Gatos Treasurer's Report for the month ended February 29, 2004 Submitted April 24, 2004 by Linda L. Lubeck Meeting date:
May 3, 20M Item No:
Town of Los Gatos Summary Investment Information FebnIary 29,2004 .. eighted Average Portfolio Yield: 2.45% Weighted Average Maturity (days) 595 Portfolio Balance Benchmarksl References:
Town's Average Yield LAIF Yield for month 3 mo. Treasury 6 mo. Treasury 2 yf. Treasury 5 yr. Treasury (most recent) Prime rate This Month $48,728,240 2.45% 1.44% 0.95% 1.02% 1.68% 3.03%
4.00% Last Month $48,855,006 2.48% 1.53% 0.91% 0.98% 1.93% 3.26% 4.00% One year ago $47,158,467 3.27% 1.95% 1.20% 1.20% 1.58% 3.03% 4.25% Most recent auctions of Freddie Mac or Fannie
Mae Reference Notes: 2 yr. Freddue Mac (02/06104) 1.88% 3 yr. Fannie Mae (OZI20104) 2.38% 3 -5 years 23% Portfolio Maturity Profile 1 -2 years 20% 0-1 year 38% Compliance: The Town's
investments are in compliance with the Town's investment policy dated June 24, 2002 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.
Town of Los Gatos Portfolio Allocation & Treasuer's Fund Balances February 29,2004 Fund Balances -Beginning ofMonth/Period Receipts Disbursements Fund Balances -End ofMonth/Period Portfolio
Allocation: SEICash US Govt Agencies Local Agency Investment Fund Subtotal-Investments Reconciled Demand Deposit Balances Total Treasurer's Fund Month 6,438,930.28
(6,565,696.54) $48,728,239.54 249,277.60 33,704,325.49 11.057214.83 45,010,817.92 3,717,421.62 $48,728,239.54 YTD $49,655,650.00 27,383,554.54 (28.310,965.00) $48,728,239.54 Local Agency
Investment Fund 24.6% Portfolio Investment Allocation SEr Cash 0.6% Fund.Balances $52,000,000 $51,000,000 $50,000,000 $49,000,000 $48,000,000
$47,000,000 $46,000,000 $45,000,000 $44,000,000 Mo Mo MotMo Mo
Town or Los Gatos Non-Treasury Restricted Fund Balances February 29, 2004 Previous Balance Non-Treaswy Funds: Downtown Parking District 12120/02 Certificates of Participation Reserve
Fund (Lot 4) . Cert. of Participation Lease Payment Fund (Lot 4) Cert. of Participation 2002 Series A Const. Fund Cert. ofParticipation 2002 Series A Reserve Fund Cert. OfParticipation
2002 Series A Interest Fund Cert. OfParticipation 2002 Series A COl Fund Total Restricted Funds: 221,931.41 295,840.30 84,761.59 2,910,140.51 694,360.04 233,228.75 0.00 $4,440,262.60
41,812.87 Ending Interest Withdrawals Balance 1,328.20 223,259.61 Note! 108.93 41,812.87 254,136.36 Note 2 24.25 45,897.50 80,701.21 Note 3 2,910,140.51 Note 4 4.43 4.3'8 694,360.09
Note 4 26.42 233,254.72 0.45 0.00 0.00 0.00 Note 4 $320,969.47 $4,162,598.23 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 ofparticipation
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 o,fLot 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 ofconstruction 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
Town of Los Gatos Statement of Interest Earned February 29,2004 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 Current Fiscal Mm1th Year to Date 177,247.25 1,084,295.94 103,299.24 103,299.24 (286,554.64) (471,723.72) ($6,008.15) * $715,871.46 * During
the preparation ofthe February, 2004 Treasurer's report, an error in recording the interest on two bonds, that dates back to June, 2003 was discovered. The net effect of the error was
that $95,000 of interest was over recorded iIi fisca12003 through the year end accrued interest entry. This is an entry the Treasurer prepares, not Finance. The correction of the error
requires the reduction of interest recorded during fiscal 2004 by the same amount. Thus page 4 of the February, 2004 report reflects 'negative' interest earnings for the month. The revised
January, 2004 report pages correct a similar, much smaller, error from January, 2004 and are submitted so that your records are correct and complete. Page 4
910 FHLB Coupon Note 102.313 1,239,062.50 1,278>912.50 39,850.00 921 FHLB Coupon Note 101.594 2,021,440.00 2,031,880.00 10,440.00 923 FNMA Coupon Note 102.750 1;998,520.00 2,055,000.00
56,480.06 924 FHLMC Coupon Note 103.688 1,999,340.00 2,073,760.00 74,420.00 927 FNMA Coupon Note 100.156 1,071,900.00 1,081,684.80 9,784.80 928 FNMA Coupon Note 100.219 895,320.00 901,971.00
6,651.00 920 FNMA Coupon Note 107.250 2,001,740.00 2,145,000.00 143,260.00 929 FNMA Coupon Note 100.750 2,000;000.00 . 2,015,000.00 15,000.00 930 FHLMC Coupon Note 100.000 2,505,250.00
2,500,000.00 (5,250.00) 0.00 Subtotal 15,732,572.50 16,083,208.30 350,635.80 0 0.00 0.00 0.00 SEI 17,971,319.37 17,711,490.15 (259,82922) SEICash 249,277.60 249,277.60 0.00 N/ALAIF N/A
11,057,214.83 11,057,214.83 0.00 Purchased Int. 433.62 433.62 0.00 Totals: 45,010,817.92 45,101,624.50 90,806.58 * Source: Treasury and Agency Obligations -Union Bank of Califomia LAIF
balances per Local Agency Investment Fund monthly statement.
SEI Investments Account Market to Cost Position Report February 29, 2004 Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest lliIt Institution Security Date
Cost Date Elapsed Invested Maturity Eamed Received Accrued FHLB Coupon Note 06/26/03 339,946.88 07/16/04 248 138 386 1.444% 3,335.32 1,656.93 1,678.39 FFCB Coupon Note 06/27/03 550,000.00
09/27/04 247 211 458 1.000% 3,721.92 1,375.00 2,346.92 FHLB Coupon Note 06130/03 514,715.00 ll/15/04 244 260 504 1.208% 4,156.53 6,328.12 (2,171.59) FHLMC Coupon Note 06/25/03 556,316.41
01/15/05 249 321 570 1.130% 4,288.51 5,729.21 (1,440.70) FHLMC Coupon Note 06/27/03 660,697.66 02115/05 247 352 599 1.359% 6,076.12 15,583.97 (9,507.85) FHLB Coupon Note 06/26/03 665,362.50
04/15/05 248 411 659 1.064% 4,810.15 3,247.29 1,562.86 FHLB Coupon Note 06/23/03 552,634.50 05/13/05 251 439 690 1.220% 4,636.38 3,231.25 1,405.13 FHLMC Coupon Note 06130/03 663,493.36
06/15/05 244 472 716 . 1.482% 6,573.2] 12,271.87 (5,698.60) FHLB Coupon Note 06/24/03 672,743.50 08/15/05 250 533 783 1.335% 6,151.46 12,512.50 (6,361.04) FHLB Coupon Note 06/24/03 683,345.00
ll/15/05 250 625 875 1.432% 6,702.40 9,228.65 (2,526.25) FHLMC Coupon Note 06130/03 651,562.50 01/15/06 244 686 930 1.771% 7,713.86 17,062.50 (9,348.64) FFCB Coupon Note 06/25/03 666,809.00
03/15/06 249 745 994 1.523%. 6,928.00 3,611.11 3,316.89 FHLMCMfN Coupon Note 10/03/03 199,818.00 03/17/03 149 -349 -200 2.302% 1,877.73 1,877.73 FHLMC Coupon Note 06/25/03 664,117.19
04/15/06 249 776 1025 1.576% 7,140.15 4,717.01 2,423.14 FNMA Coupon Note 06/27/03 504,090.00 04/28/06 247 789 1036 2.315% 7,897.02 4,411.46 3,485.56 FHLB Coupon Note 06/24/03 658,677.50
05/15/06 250 806 1056 1.625% 7,331.17 5,409.90 1,921.27 FHLMC Coupon Note 06/27/03 500,930.00 . 06/02106 247 824 1071 2.076% 7,037.34 4,628.47 2,408. p-FHLMC Coupon Note 06130/03 387,296.88
07/15/06 244 867 1111 1.872% 4,846.71 10,427.08 (5,58C FHLB Coupon Note 06130/03 400,000.00 09/29/06 244 943 1187 2.200% 5,882.74 4,040.00 1,842... FHLB Coupon Note 06/24/03 688,076;80
11/15/06 250 990 .1240 1.825% 8,600.96 10,340.00 (1,739.04) FFCB Coupon Note 06/25/03 660,954.00 12119/06 249 1024 1273 1.844% 8,314.55 14,137.50 (5,822.95) FHLB Coupon Note 06130/03
400,000.00 12129/06 . 244 1034 1278 2.225% 5,949.59 4,450.00 1,499.59 FHLMC Coupon Note 06/25/03 662,652.00 03/15/07 249 lilO 1359 1.946% 8,797.00 6,500.00 2,297.00 FNMA Coupon Note
06130/03 333,597.66 04/15/07 244 1141 1385 2.150% 4,794.67 4,593.75 200.92 FHLMC MTN Coupon Note 06/27/03 402,556.00 OS/29/07 247 1185 1432 2.808% 7,649.40 5,033.33 2,616.07 FNMA Coupon
Note 06130/03 375,219.60 07/15/07 244 1232 1476 2.359% 5,917.12 8,057.29 (2,140.17) FHLB Coupon Note 06/24/03 672,825.60 ll/15/07 250 1355 1605 2.257% 10,401.15 8,773.33 1,627.82 FNMA
Coupon Note 06/24/03 299,475.00 12124/07 250 1394 1644 2.528% 5,185.43 3,750.00 1,435.43 FNMA Coupon Note 06/27/03 649,785.94 01/lS/08 247 1416 1663 2.492% 10,957.78 11,261.00 (303.22)
FHLMC Coupon Note 06/26/03 657,396.09 03/15/08 248 1476 1724 2.294% 10,246.59 3,892.33 6,354.26 FHLB Coupon Note 06130/03 286,162.50 04/15/08 244 1507 1751 2.633% 5,036.87 4,287.50 749.37
FHLB Coupon Note 06/26/03 661,764.30 05/13/08 248 1535 1783 2.507% 11,272.40 13,112.61 (1,840.21) FHLMCMfN Coupon Note 06130/03 228,298.00 06/13/08 244 1566 1810 2.894% 4,416.70 2,863.82
1,552.88 FHLMC Coupon Note 06/24/03 500,000.00 06/18/08 250' 1571 1.821 2.750% 9,417.81 6,875.00 2,542.81 17,971,319.37 861 1.823% 224,064.78 233,399.78 (9,335.00) Cash 249,277.60 4,582.67
4,411.46 171.21 Purchased Interest 433.62 228,647.45 237,811.24 (9;163.79) 18,221,030.59
._--._--_._-.__ ..__.--_.------_._-_.----_.---------"."--------.-----"._---._._-_.----"-_._---. _.-------.-._-----_.---Town of Los Gatos
. Statement of Interest Earned January 31, 20«)4 i· ! Interest received from Investments Add: Interest accrued at end of period (see page 5) Less: Interest accrued at begiIUling of period
Interest earned on investrilents Current· Fiscal Mm1th , Year to Date 94,692.99 907,048.69 286,554.64 286,554.64 (290,924.61) (471,723.72) . $90,323.02 $721,879.61 Page 4
919 FHLMC Coupon Note 908 FHLB Coupon Note 910 FHLB Coupon Note 921 FHLB Coupon Note 923 FNMA Coupon Note 924 FHLMC Coupon Note 927 FNMA Coupon Note 928 FNMA Coupon Note 920 . FNMA Coupon
Note o -GovemmentHighrnarkFds Subtotal Scp. Inv. Purch. Int. SEI SEICash N/ALAIF N/A Purchased Int. Totals: 100.125 100.250 102.688 101.844 102.844 103.719 100.031 100.313 106.906 100.000
1,006,380.00 1,502,265.00 1,239,062.50 2,021,440.00 1,998,520.00 1,999,340.00 1,071,900.00 895,320.00 2,001,740.00 2,019,253.06 15,755,220.56 727.20 17,971,319.37 235,045.27 11,057,214.83
433.62 45,019,960.85 1,001,250.00 1,503,750.00 1,283,600.00 2,036,880.00 2,056,880.00 . 2,074,380.00 1,080,334.80 902,817.00 2,138,120.00 2,019,253.06 16,097,264.86 727.20 17,633,461.75
235,045.27 11,057,214.83 433.62 45,024,147.53 (5,130.00) 1,485.00 44,537.50 15,440.00' 58,360.00 75,040.00 8,434.80 7,497.00 136,380.00 0.00 342,044.30 0.00 (337,857.62) 0.00 0.00 0:00
4,186.68 * Source: Treasury and Agency Obligations -Union Bank of California LAlF balances per Local Agency Investment Fund monthly statement.