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01 Staff Report - Treasurer's Reports November & December 2005~pW N 0 : COUNCIL AGENDA REPORT ~~S GAtps DATE: January 26, 2006 TO: MAYOR AND TOWN COUNCIL MEETING DATE: 02/06/06 ITEM NO. FROM: LINDA LUBECK, TOWN TREASURER JP~- SUBJECT: TREASURER'S REPORTS FOR NOVEMBER & DECEMBER, 2005 RECOMMENDATION: Accept reports as attached. DISCUSSION: Attached for your review and acceptance are the Treasurer's reports for November and December, 2005. Prime increased to 7.25% on December 13, 2005 and is expected to remain there for a while yet. Treasurer's funds increased during the months due in part to the receipt of property tax funds. Interest rates continued to rise slightly, as did the Town's overall performance. During November the last of the assets held at SEI were transferred to Union Bank. ENVIRONMENTAL ASSESSMENT: Is not a project defined under CEQA, and no further action is required. FISCAL IMPACT: None Attachments: Treasurer's reports dated January 19 and 25, 2006. PREPARED BY: Linda L. Lubeck, Town Treasurer Reviewed bG~~I'own Manager _V:j Assistant Town Manager jl -Town Attorney ClerkFinance Community Development Revised: 1/26/06 8:32 am Distribution: Town Council; Town Manager; Finance Director Reformatted: 5/30/02 Meeting date: February 6, 2006 Item No: Town of Los Gatos Treasurer's Report for the month ended December 31, 2005 Submitted January 25, 2006 by Linda L. Lubeck Distribution: Town Clerk Town Manager Town Council Town of Los Gatos Summary Investment Information December 31, 2005 Weighted Average Portfolio Yield: 3.35% Weighted Average Maturity (days) 320 This Month Last Month One year ago Portfolio Balance $58,256,368 $56,376,728 $50,575,753 Benchmarks/ References: Town's Average Yield 3.35% 3.27% 2.49% LAIF Yield for month 3.81% 3.64% 2.00% 3 mo. Treasury 4.00% 3.99% 2.27% 6 mo. Treasury 4.35% 4.30% 2.63% 2 yr. Treasury 4.40% 4.37% 3.12% 5 yr. Treasury.(most recent) 4.44% 4.27% . 3.55% Prime. rate 7.25% 7.00% 5.25% Most recent auctions of Freddie Mac or Fannie Mae Reference Notes: 3 yr. Freddie Mac (11/18/05) 4.64% 2 yr. Fannie Mae (12/23/05) 4.73% 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 2 Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances December 31, 2005 Fund Balances - Beginning of Month/Period Receipts Disbursements Fund Balances - End of Month/Period Portfolio Allocation: Union MM US Govt Agencies Local Agency Investment Fund Subtotal - Investments Reconciled Demand Deposit Balances Total Treasurer's Fund Month YTD $56,376,727.85 $57,531,241.44 5,198,252.59 19,520,291.51 (3,318,612.10) (18.795.164.61) $58,256,368.34 $58,256,368.34 4,172,252.82 34,078,679.63 14,539,368.40 52,790,300.85 5,466,067.49 $58,256,368.34 Local Agency Investment Fund 27.5% Portfolio Investment Allocation Union MM 7.9% V Govt Agencies 64.6% Treasurer's Fund Balances $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 " $49,000,000 - $48,000,000 $47,000,000 0 0 0 0 0 0 ca a r V1 Vl V? 'n U'1 0 0 0 0 0 0 0 e o z Q page 2 Town of Los Gatos Non-Treasury Restricted Fund Balances December 31, 2005 Previous Balance Deposits Downtown Parking District 12/20/02 242,433.68 Certificates of Participation Reserve Fund (Lot 4) 256,029.66 Cert. of Participation Lease Payment Fund (Lot 4) 85,935.82 197879.84 Cert. of Participation 2002 Series A Const. Fund 1,306,059.33 Cert. of Participation 2002 Series A Reserve Fund 752,185.27 Cert. Of Participation 2002 Series A Interest Fund 0.61 Cert. Of Participation 2002,Series A COI Fund 0.00 Ending Interest Withdrawals Balance 519.21 242,952.89 Note 1 710.34 256,740.00 Note 2 186.96 106,002.62 Note 3 2.03 17,301.08 1,288,760.28 Note4 170.31 19.68 752,335.90 Note 4 0.00 0.61 0.00 0.00 0.00 Note 4 Total Restricted Funds: $2,642,644.37 $19,879.84 $1,588.85 $17,320.76 $2,646,792.30 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 Town of Los Gatos Statement of Interest Earned December 31, 2005 Current Fiscal Month Year to Date Interest received from Investments 131,569.96 774,747.20 Add: Interest accrued at end of period (see page 5) 89,471.69 89,471.69 Less: Interest accrued at beginning of period (61,650.90) (33,323.60) Interest earned on investments $159,390.75 $830,895.29 Page 4 Town or Los Gatos Inactive Deposits by Institution Market to Cost Position Report December 31, 2005 Inactive Deposits by Institution Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest Dep_Institution Security Date Cost Date Elaosed Maturity Invested Maturity Earned Received Accrued 932 FHLB Coupon Note 08/18/04 498.300.00 02103/06 500 34 534 2.49% 16,988.87 13,593.75 3,395.12 938 FHLMC Discount Note 03/16/05 483.436.11 03/07/06 290 66 356 3.35% 12,867.35 12.867.35 928 FNMA Coupon Note 08/26/03 895.320.00 0428/06 858 118 976 2.835/c 59,510.02 51,319.30 8,190.72 933 FHLB Coupon Note 08/18/04 996,420.00 05/15/06 500 135 635 2.46% 33,581.18 27,937.50 5,643.68 920 FNMA Coupon Note 06/22/01 2,001,740.00 06/15/06 1653 166 1819 5.23% 474,140.21 470.484.30 3,655.91 939FFCB Coupon Note 03/16/05 498,560.00 12111/06 290 345 635 3.80% 15,052.41 13,342.01 1,710.40 934 FNMA Coupon Note 08/18/04 1,491,000.00 01/12/07 500 377 877 3.06% 62,508.89 37,800.00 24,708.89 940 FHLB Coupon Note 03/16/05 543,228.45 02/09/07 290 405 695 3.93% 16,962.12 6,084.65 10,877.47 929 FNMA Coupon Note 02109/04 2,000.000.00 05/09107 691 494 1185 3.00% 113,589.04 90,000.00 23,589.04 942 FFILB Coupon Note 05116105 999,000.00 05/16107 229 501 730 4.04% 25.340.31 19.950.00 5,390.31 943 FNMA Coupon Note 07/01/05 749,032.50 05/17107 183 502 685 3.82% 14.326.94 10.625.00 3.701.94 946 FHLMC Discount Note 08/15/05 1,500,000.00 08/15/07 138 592 730 4.25% 24.102.74 24,102.74 930 FHLMC Coupon Note 02/24/04 2,505,250.00 08124/07 676 601 1277 2.79% 129,643.82 120,750.00 8,893.82 944 FNMA Coupon Note 07/01/05 984,074.54 12115/07 183 714 897 3.81% 18.783.18 14,236.11 4,547.07 947 FHLMC Discount Note 08/15/05 999,700.00 02115/08 138 776 914 4.26% 16,112.81 16.112.81 945 FHLB Coupon Note 07/01/05 755,975.25 04/18108 183 839 1022 3.80% 14,414.25 9,195.31 5,218.94 FHLMC ZCoupon 03123/05 97,284.59 01/03/06 283 3 286 3.558% 2,683.76 2,683.76 FHLMC Coupon Note 06/30/03 651,562.50 01/15/06 915 15 930 1.771% 28,926.97 64,312.50 (35,385.53) FNMA Z Coupon 08/22/05 88,597.70 01/17/06 131 17 148 3.903% 1.241.08 1,241.08 FFCB ZCoupon 08/22/05 23.598.08 01/26/06 131 26 '157 3.960% 335.39 335.39 FHLMC Coupon Note 08/24/04 198,460.00 02115/06 494 46 540 2.402% 6.451.79 3,656.25 2,795.54 FNMA ZCoupon 08/22105 44,104.87 02/24/06 131 55 186 3.983% 630.49 630.49 FFCB Coupon Note 06/25/03 666,809.00 03/15106 920 74 994 1.523% 25,597.43 36,111.11 (10,513.68) FHLMC Coupon Note 06125/03 664,117.19 04115106 920 105 1025 1.576% 26,381.28 35,592.01 (9,210.73) FNMA Coupon Note 06/27/03 504.09D.00 04/28/06 918 118 1036 2.315% 29,350.05 30.661.46 (1,311.41) FMAC Z Coupon 07/29/05 193,927.92 05/10/06 155 130 285 4.010% 3.302.35 3,302.35 FHLB Coupon Note 06/24/03 658,677.50 05115/06 921 135 1056 1.6251/. 27,008.03 33,034.90 (6,026.87) FHLMC Coupon Note 06/27/03 500,930.00 06/02/06 918 153 1071 2.076% 26,154.97 26.128.47 26.50 FHLMC Coupon Note 06/30103 387,296.88 07115/06 915 196 1111 1.872% 18,175.15 39,302.08 (21.126.93) FNMA Coupon Note 06/10/04 297,213.00 08/11/06 569 223 792 3.177% 14,719.89 9,647.92 5,071.97 FHLB Coupon Note 06/30/03 400,000.00 - 09/29106 915 272 1187 2.200% 22,060.27 20.200.00 1,860.27 FHLMC Coupon Note 02/22/05 197,629.00 10/15/06 312 288 600 3.507% 5,924.45 3.559.72 2,364.73 FHLB Coupon Note 06124/03 688,076.80 11/15/06 921 319 1240 1.825% 31,685.94 63,140.00 (31,454.06) FFCB Coupon Note 06/25103 660,954.00 12119/06 920 353 1273 1.844% 30,720.42 72,637.50 (41,917.08) FHLB Coupon Note 06130/03 400,000.00 12/29/06 915 363 1278 2.225% 22,310.96 22,250.00 60.96 FNMA Coupon Note 02122/05 195,358.60 02/15/07 312 411 723 3.363% 5,615.92 2.282.64 3.333.28 FHLMC Coupon Note 06/25/03 662,652.00 03/15/07 920 439 1359 1.946% 32,502.99 65.000.00 (32,497.01) FNMA Coupon Note 06/30/03 333,597.66 04/15/07 915 470 1385 2.150% 17,980.00 36,093.75 (18,113.75) FHLMC MTN . Coupon Note 06/27/03 402,556.00 05/29/07 918 514 1432 2.808% 28,429.76 29,033.33 (603.57) FNMA Coupon Note 06/30/03 375,219.60 07/15/07 915 561 1476 2.359% 22,189.20 30369.79 (8,180.59) FHLB Coupon Note 06/24/03 672,825.60 11/15/07 921 684 1605 2.257% 38.317.82 53,573.33 (15,255.51) FNMA Coupon Note 06/24/03 299,475.00 12/24/07 921 723 1644 2.528% 19,103.12 18,750.00 353.12 FNMA Coupon Note 06/27/03 649,785.94 01/15/08 918 745 1663 2.492% 40,725.66 41,973.50 . (1,247.84) FHLMC Coupon Note 09130/04 198,630.00 02/25/08 457 786 1243 3.462% 8.609.84 5.868.06 2,741.78 FHLMC Coupon Note 06/26/03 657,396.09 03115/08 919 805 1724 2.294% 37.970.23 39,367.33 (1,397.10) FIILB Coupon Note 06/30/03 286,162.50 04/15/08 915 836 1751 2.633% 18,888.25 33,687.50 (14,799.25) FHLB Coupon Note 06/26/03 661,764.30 05113/08 919 864 1783 2.507% 41,771.52 82,025.61 (40,254.09) FHLMC MTN Coupon Note 06/30/03 228,298.00 06/13/08 915 895 1810 2.894% 16,562.61 15,513.82 1,048.79 FHLMC Coupon Note 06124/03 500,000.00 06/18/08 921 900 1821 2.750% 34,695.21 34,375.00 320.21 FNMA Coupon Note 09/30/04 198,597.00 08/15/08 457 958 1415 3.442% 8,558.68 5,687.50 2,871.18 FNMA Coupon Note 11/16/04 199,216.00 09/15/08 410 989 1399 3.866% 8,651.21 6,229.17 2,422.04 FNMA - Coupon Note 01/19/05 248,157.50 09115108 346 989 1335 3.974% 9,348.43 6,145.83 3,202.60 FNMA Coupon Note 11/16/04 199,552.00 11/17/08 410 1052 1462 3.936% 8,822.71 7,771.53 1,051.18 FHLMC Coupon Note 07/07/05 296,403.00 01112/09 177 1108 1285 4.313% 6,199.30 807.29 5,392.01 FNMA Coupon Note 01/21/05 242,400.00 03/16/09 344 1171 1515 3.930% 8,978.23 5.099.83 3,878.40 FHLMC Coupon Note . 06/17/05 300,198.00 07/30/09 197 1307 1504 4.359% 7,062.66 1,567.71 5,494.95 FHLMC Coupon Note 08/01/05 298,332.00 07/30/09 152 1307 1459 4.527% 5,624.20 5,624.20 FHLMC Coupon Note 06/14/05 298,683.00 09/01/09 200 1340 1540 4.237% 6,934.36 2,646.87 4,287.49 FHLMC Coupon Note 01/21/05 149,686.50 09/01/09 344 1340 1684 4.180% 5,896.91 3,781.25. 2,115.66 FHLMC Coupon Note 06/14/05 299.331.00 01/25110 200 1486 1686 4.431% 7,267.59 1,494.79 5,772.80 Subtotal 34,078,643.17 Union MM 4,172,252.82 30 30 3.81% 13.065.44 13,065.44 Purchased Interest 36.46 LAIF N/A 09/30105 14,539,368.40 12/31/05 92 0 92 3.81% 132,812.30 132,812.30 52,790,300.85 320 3.35% 1.964.168.97 1,874,697.28 89,471.69 Maturity Profile Amount Percent 0-1 year.. 31,408,762.82 59.50% 1-2 years 13,713,269.95 25.98% 2-3 years 5,783,234.58 10.96% 3-5 years - 1.885.033.50 3.57% 52,790,300.85 100.00% Market to Cost Position Report Market Amortized Market Unrealized Den Institution Security Price Cost Value* Gain (Loss) Union Bank Assets 34,078,643.17 33,151,530.25 (927,112.92) Union MM 4,172,252.82 4,172,252.82 0.00 Purchased Interest 36.46 36.46 0.D0 LAIF 14.539.368.40 14,539,368.40 0.00 *Source: Treasury and Agency Obligations -Union Bank of California Totals: 52,790,300.85 51,863,187.93 (927,112.92) LAIF balances per Local Agency Investment Fund monthly statemen page Meeting date: February 6, 2006 Item No: Town of Los Gatos Treasurer's Report for the month ended November 30, 2005 Submitted January 19, 2006 by Linda L. Lubeck Distribution: Town Clerk Town Manager Town Council Town of Los Gatos Summary Investment Information November 30, 2005 Weighted Average Portfolio Yield: 3.27% Weighted Average Maturity (days) 374 This Month Last Month One year ago Portfolio Balance $56,376,728 $56,194,085 $47,910,984 Benchmarks/ References: Town's Average Yield 3.27% 3.17% 2.46% LAIF Yield for month 3.64% 3.46% 1.89% 3 mo. Treasury 3.99% 3.98% 2.24% 6 mo. Treasury 4.3001o 4.27% 2.46% 2 yr. Treasury 4.37% 4.37% 2.95% 5 yr. Treasury (most recent) 4.27% 4.27% 3.55% Prime rate 7.00% 6.75% 5.00% Most recent auctions of Freddie Mac or Fannie Mae Reference Notes: 3 yr. Fannie Mae (10/14/05) 4.56% 2 yr. Freddie Mac (10/19/05) 4.48% 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 2 Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances -November 30, 2005 Month Fund Balances - Beginning of Month/Period $56,194,084.88 Receipts 2,751,272.22 Disbursements (2,568,629.25) Fund Balances - End of Month/Period $56,376,727.85 Portfolio Allocation: SEI MM/Union MM 3,744,306.64 US Govt Agencies 34,375,703.83 Local Agency Investment Fund 14,539.368.40 Subtotal - Investments 52,659,378.87 Reconciled Demand Deposit Balances 3,717,348.98 Total Treasurer's Fund $56,376,727.85 YTD $57,531,241.44 14,322,038.92 (15.476,552.51) $56,376,727.85 Local Agency Investment Fund . 27.6% Portfolio Investment Allocation SEI MM/Union MM 7.1% US Govt Agencies 65.3% Treasurer's Fund Balances $58,000,000 $57,000,000 $56,000,000 - $55,000,000 $54,000,000 i $53,000,000 $52,000,000 $51,000,000 $50,000,000 $49,000,000 $48,000,000 $47,000,000 ~l $46,000,000. - - 0 0 0 0 0 o v r v 5 z o F „mow 0 0 0 0 0 0 0 0 Q > C .0 C > Q C Q V) o z page 2 Town of Los Gatos Non-Treasury Restricted Fund Balances November 30, 2005 Previous Ending Balance Deposits Interest Withdrawals Balance Non-Treasury Funds Downtown Parking District 12/20/02 Certificates of Participation Reserve Fund (Lot 4) Cert. of Participation Lease Payment Fund (Lot 4) Cert. of Participation 2002 Series A Const. Fund Cert. of Participation 2002 Series A Reserve Fund Cert. Of Participation 2002 Series A Interest Fund Cert. Of Participation 2002 Series A COI Fund Total Restricted Funds: 241,898.35 535.33 242,433.68 Note1 255,357.52 672.14 256,029.66 Note 2 65,922.46 19,879.84 133.52 85,935.82 Note3 1,291,619.12 14,440.31 0.10 1,306,059.33 Note4 737.839.57 14,363.72 18.02 752,185.27 Note4 0.61 0.00 0.61 0.00 0.00 0.00 0.00 Note 4 $2,592,637.63 $19,879.84 $30,145.02 $18.12 $2,642,644.37 These accounts are not part of the Treasurers 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 T, 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 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 November 30, 2005 Current Month 103,350.66 61,650.90 (32,769.91) $132,231.65 Page 4 Fiscal Year to Date 643,177.24 61,650.90 (33,323.60) $671,504.54 Town of Los Gatos Inactive Deposits by Institution Market to Cost Position Report November 30, 2005 Inactive Deposits by Institution Deft Institution Security 932 FHLB Coupon Note 938 FHLMC Discount Note 928 FNMA Coupon Note 933 FHLB Coupon Note 920 FNMA Coupon Note 939 FFCB Coupon Note 934 FNMA Coupon Note 940 FHLB Coupon Note 929 FNMA - Coupon Note 942 FHLB Coupon Note 943 FNMA Coupon Note 946 FHLMC Discount Note 930 FHLMC Coupon Note 944 FNMA Coupon Note 947 FHLMC Discount Note 945 FHLB Coupon Note FHLMC 2 Coupon FHLMC ZCoupon FHLMC Z Coupon FHLMC Coupon Note FNMA Z Coupon FFCB Z Coupon FHLMC Coupon Note FNMA Z Coupon FFCB Coupon Note FHLMC Coupon Note FNMA Coupon Note FMAC Z Coupon FHLB Coupon Note FHLMC Coupon Note FHLMC Coupon Note FNMA Coupon Note FHLB Coupon Note FHLMC Coupon Note FHLB Coupon Note FFCB Coupon Note FHLB Coupon Note FNMA Coupon Note FHLMC Coupon Note FNMA Coupon Note FHLMC MTN Coupon Note FNMA Coupon Note FHLB _ Coupon Note FNMA Coupon Note FNMA Coupon Note FHLMC Coupon Note FHLMC Coupon Note FHLB Coupon Note FHLB Coupon Note FHLMC MTN Coupon Note FHLMC Coupon Note FNMA Coupon Note FNMA Coupon Note FNMA Coupon Note FNMA Coupon Note FHLMC Coupon Note FNMA Coupon Note FHLMC Coupon Note FHLMC Coupon Note FHLMC Coupon Note FHLMC Coupon Note FHLMC Coupon Note Subtotal Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest Dote Cost Date Elapsed Maturity Invested Maturity Eamed Received Accrued 08118/04 498,300.00 02/03/06 469 65 534 2.49% 15,935.56 13,593.75 2,341.81 03116/05 483.436.11 03107106 259 97 356 3.35% 11,491.87 t 1,491.87 08/26/03 895,320.00 04128/06 ,827 149 .976 2.83% 57,359.89 51,319.30 6,040.59 08118/04 996,420.00 05115/06 469 166 635 2.46% 31,499.15 27,937.50 3,561.65 06/22/01 2,001,740.00 06115/06 1622 197 1819 5.231/. 465,248.28 417,984.30 47,263.98 03/16/05 498,560.00 12111/06 259 376 635 3.80% 13,443.36 4,279.51 9,163.85 08/18/04 1,491,000.00 01112/07 469 408 877 3.06% 58,633.34 37,800.00 20,833.34 03/16/05 543,228.45 02109/07 259 436 695 3.931A 15,148.93 6,084.65 9,064.28 02/09/04 2,000,000.00 05109/07 660 525 1185 3.001/. 108,493.15 90,000.00 18,493.15 05/16/05 999,000.00 05116/07 198 532 730 4.04% 21,909.96 19,950.00 1,959.96 011/01/05 749.032.50 05117/07 152 533 685 3.821k 11,899.97 10,625.00 1,274.97 08115/05 1,500,000.00 68115/07 107 623 730 4.25% 18,688.36 18,688.36 02124/04 2,505250.00 08124/07 645 632 1277 2.79% 123,698.62 120,750.00 2,948.62 07/01/05 984,074.54 12115/07 152 745 897 3.81% 15,601.33 15,601.33 08/15/05 999,700.00 02115/08 107 807 914 4.26% 12,493.26 12,49326 07/01/05 755,975.25 04118/08 152 870 1022 3.80% 11,972.49 9,195.31 1777.18 08105105 98.681.94 12113105 117 13 130 3.750% 1,186.21 1,186.21 07/14/05 196,953.37 12/15/05 139 15 154 3.666% 2,749.65 2,749.65 03/23105 97284.59 01103/06 252 34 286 3.558% 2,389.78 2,389.78 06130/03 651,562.50 01/15/06 884 46 930 1.771% 27.946.93 64,312.50 (36,365.57) 08/22/05 88.597.70 01/17/06 100 48 148 3.903% 947.39 947.39 08/22/05 23.598.08 01126/06 100 57 157 3.960% 256.02 256.02 08/24104 198.460.00 02115/06 463 77 540 2.402% 6.046.92 3,656.25 2,390.67 08/22/05 44.104.87 02/24/06 100 86 186 3.983% 481.29 481.29 06/25/03 666,809.00 03115/06 889 105 994 1.523% 24,734.91 36,111.11 (117376.20) 06/25103 664.117.19 04115/06 889 136 1025 1.576% 25,492.35 35,592.01 (10,099.66) 06/27/03 504,090.00 04/28/06 887 149 1036 2.315% 28,358.93 30,661.46 (2,302.53) 07/29/05 193,927.92 05/10/06 124 161 285 4.010% 2,641.88 2.641.88 06/24/03 658,677.50 05115106 890 166 1056 1.625% 26,098.97 33.034.90 (6,935.93) 06/27103 500,930.00 06/02/06 887 184 1071 2.076% 25,271.74 20,753.47 4.51327 06/30/03 387,196.88 07/15/06 884 227 1111 1.872% 17,559.38 39,302.08 (21,742.70) 06/10/04 297.213.00 08/11/06 538 254 792 3.177% 13,917.92 9.647.92 4.270.00 06/30/03 400,OOQ.00 09/29/06 884 303 1187 2.200% 21,312.88 16,160.00 5.152.88 02/22/05 197,629.00 10/15/06 281 319 600 3.507% 5335.80 3,559.72 1,776.08 06124/03 688,076.80 11/15/06 890 350 1240 1.825% 30,619.42 63,140.00 (32.520.58) 06/25/03 660.954.00 12/19/06 889 384 1273 1.844% 29.68537 58,012.50 (28.327.23) 06/30/03 400,000.00 12/29/06 884 394 1278 2225% 21555.07 17,800.00 3,755.07 02/22105 195,358.60 02115/07 281 442 723 3.363% 5,057.93 2,282.64 2,77529 06/25/03 662.652.00 03/15/07 889 470 1359 1.946% 31,407.78 65,000.00 (33,592.22) 06/30/03 333.597.66 04/15/07 884 501 1385 2.150% 17,370.84 36,093.75 (18,722.91) 06/27/03 401556.00 05/29/07 887 545 1432 2.808% 27,469.72 29,033.33 (1,563.61) 06/30/03 375,219.60 07/15/07 884 592 1476 2.359% 21,437.44 30,369.79 (8,932.35) 06/24103 672.825.60 11/15/07 890 715 1605 2.257% 37,028.08 53,573.33 (16,545.25) 06/24/03 299475.00 12/24/07 890 754 1644 2.5287. 18,460.13 15,000.00 3.460.13 06/27/03 649,785.94 01/15108 887 776 1663 2.4927o 39.350.40 41,973.50 (21623.10) 09/30/04 198,630.00 02/25/08 426 817 1243 3.462% 8,025.81 5,868.06 2.157.75 06/26/03 657396.09 03115/08 888 836 1724 2.294% 36,689.40 39,367.33 (2.677.93) 06/30/03 286,162.50 04/15/08 884 867 1751 2.633% 18,248.32 33,687.50 (15,439.19) 06/26/03 661,764.30 05/13/08 888 895 1783 2.507% 40,362.47 82,025.61 (41,663.14) 06/30/03 228.298.00 06113/08 884 926 1810 2.894% 16.001.48 12,351.32 3.650.16 06/24/03 500.000.00 06/18/08 890 931 1821 2.750% 33,527.40 27,500.00 6,027.40 09/30/04 198,597.00 08/15/08 426 989 1415 3.442% 7,978.11 5,687.50 2290.61 11/16/04 199,216.00 09/15108 379 1020 1399 3.866% 7,997.10 6,229.17 1.767.93 01/19/05 248,157.50 09/15108 315 1020 1335 3.9749. 81510.85 6,145.83 2.365.02 11/16/04 199,552.00 11/17/08 379 1083 1462 3.936% 8,155.63 7,771.53 384.10 07/07/05 296.403.00 01/12/09 146 1139 1285 4.313% 5,113.54 807.29 4.306.25 01/21105 242,400.00 03/16/09 313 1202 1515 3.930% 8,169.15 5,099.83 3.069.32 06/17/05 300,198.00 07/30/09 166 1338 1504 4.359% 5,95127 1,567.71 4.383.56 08/01/05 298332.00 07130/09 121 1338 1459 4.527% 4,477.16 4.477.16 06114/05 298,683.00 09/01/09 169 1371 1540 4.237% 5,859.53 2,646.87 3.212.66 01/21/05 149,686.50 09/01/09 - 313 1371 1684 4.180% 5,365.50 3,781.25 1,584.25 06/14/05 299.331.00 01125/10 169 1517 1686 4.431% 6,141.12 1,494.79 4,646.33 34,374.278.48 Union MM 3,715,089.19 Purchased Interest 1,425.35 SEI MM 29,217.45 LAIF N/A 09/30/05 14,539.368.40 12/31/05 61 31 92 3.64% . 86,009.68 86,009.68 52,659,378.87 374 , 3.27% 1,818,272.07 1,756,621.17 61.650.90 Maturity Profile 0-1 year 1-2 years 2-3 years 3-5 years Market to Cost Position Report Amount Percent 29,718,326.84 56.44% 13,989,234.41 26.57% 7,066,784.12 13.42% 1.885.033.50 3.58% 52,659.378.87 100.00% Market Amortized Market Unrealized Der) Institution Security Price Cost Value- Gain (Loss) Union Bank Assets 34,374,278.48 33,437,965.85 (936,312.63) UnionMM 3,715,089.19 3,715,089.19 0.00 Purchased Interest 1,425.35 1,425.35 0.00 , SEI MM 29,217.45 29,217.45 0.00 LAIF 14,539,368.40 14.539,368.40 0.00 * Source: Treasury and Agency Obligations - Union Bank of California Totals: 52,659,378.87 51,723,06624 (9 36,312.63) LAIF balances per Local Agency Investment Fund monthly statement. page 5