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03 Staff Report - Treasurer's Report December 2006 and January 2007MEETING DATE: 03/19/07 .~pW N OF ITEM NO. ' COUNCIL AGENDA REPORT !ps 6 AZpS DATE: March 14, 2007 TO: MAYOR AND TOWN COUNCIL FROM: LINDA SPEICHER, TOWN TREASURER SUBJECT: TREASURER'S REPORTS FOR DECEMBER 2006 AND JANUARY 2007 RECOMMENDATION: Accept reports as attached. DISCUSSION: Attached for your review and acceptance are the Treasurer's reports for the months of December, 2006 and January 2007. Prime remained steady during the period, with no foreseeable raises by the Federal Reserve on the horizon. Interest rates continued to rise slightly for the overall portfolio, as investments matured and were reinvested into higher earning investments. ENVIRONMENTAL ASSESSMENT: Is not a project defined under CEQA, and no further action is required. FISCAL IMPACT: None Attachments: Treasurer's reports dated March 14, 2007 PREPARED BY: Linda L. Speicher, Town Treasurer Reviewed by: own Manager C° ssistant Town Manager Town Attorney ClerkFinance Community Development Revised: 3/14/07 6:44 pm Distribution: Town Council; Town Manager; Finance Director Reformatted: 5/30/02 i i. Meeting date: March 19, 2006 Item No: Town of Los Gatos Treasurer's Report for the month ended December 31, 2006 Submitted March 14, 2006 by Linda L. Speicher Distribution: Town Clerk Town Manager Town Council Town of Los Gatos Summary Investment Information December 31, 2006 Weighted Average Portfolio Yield: 4.50% Weighted Average Maturity (days) 397 This Month Last Month One year ago Portfolio Balance $65,101869 $62,014,452 $58,256,368 Benchmarks/ References: Town's Average Yield 4.50% LAIF Yield for month 5.11% 3 mo. Treasury 5.00% 6 mo. Treasury 5.09% 2 yr. Treasury 4.77% 5 yr. Treasury (most recent) 4.70% Prime rate 8.25% Most recent auctions of Freddie Mac or Fannie Mae Reference Notes: 3 yr. Fannie Mae (12/19/06) 4.73% 2 yr. Freddie Mac (01/16/07) 5.01% 4.39% 3.35% 5.13% 3.81% 5.04% 4.00% 5.13% 4.35% 4.69% 4.40% 4.51% 4.44% 8.25% 7.25% Portfolio Maturity Profile 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 L 3 - 5 years I 1 °lo Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances December 31, 2006 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 $62,014,452.03 $66,482,899.82 5,723,199.97 18,702,103.68 (2,633,782.65) (20,081,134.15) $65,103,869.35 $65,103,869.35 S392,560.41 39,106,092.47 23,367,390.59 62,866,043.47 2.237,825.88 $65,103,86935 Portfolio Investment Allocation Union MM 0.6% Treasurer's Fund Balances $68.000.000 T. $66.000.000 $64.000.000 $62,000.000 $60.000.000 $58.000.000 $56,000.0001 $54,000.000 $52.000.000 - - - - o c ~ o 0 0 0 0 L v T cG f1 ? v o page 2 Town of Los Gatos Non-Treasury Restricted Fund Balances December 31, 2006 Previous Balance Deposits Non-Treasury Funds Downtown Parking District 12/20/02 $248,826.75 Certificates of Participation Reserve Fund (Lot 4) 258,184.79 Cert. of Participation Lease Payment Fund (Lot 4) 87,132.14 18,753.99 Cert. of Participation 2002 Series A Const. Fund 535,132.60 Cert. of Participation 2002 Series A Reserve Fund 783,580.23 Cert. Of Participation 2002 Series A Interest Fund 324.85 Cert. Of Participation 2002 Series A COI Fund 0.00 Total Restricted Funds: $1,913.181.36 $18,753.99 $2,194.42 $115,509.99 $1,818,619.78 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 '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. Ending Interest Withdrawals Balance $532.90 $249,359.65 Note t 1,002.84 259,187.63 Note 2 287.48 106,173.61 Note 3 1.62 115.480.82 419,653.40 Note 4 368.38 29.17 783.919.44 Note 4 1.20 326.05 0.00 0.00 0.00 Note 4 Page 3 Town of Los Gatos Statement of Interest Earned December 31, 2006 Current Fiscal Month Year to Date Interest received from Investments $61,846.81 $1,146,833.52 Add: Interest accrued at end of period (see page 5) 430,304.96 430,304.96 Less: Interest accrued at beginning of period (267,419.68) (268,699.72) Interest earned on investments $224,732.09 $1,308,438.76 Page 4 Town of Los Gatos Inact ive Deposits by Institution Nlarket to Cost Position Report December 31, 2006 Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest Dep Institution Security Date Cost Date Elapsed Maturitv Invested Maturity Earned Received Accrued 934 FNMA Coupon Note 08/18/04 51,491,000.00 01/12/07 865 12 877 3.060`70 $108,14038 $79,800.00 $2834038 940 FHLB Coupon Note 03/16/05 543,228.45 02/09/07 655 40 695 3.9301/, 38.311.00 21,402.65 16.90835 929 FNMA Coupon Note 02/09/04 2,000,000.00 05/09/07 1056 129 1185 3,000% 173.589.04 150.000.00 23,589.04 942 FHLB Coupon Note 05/16/05 999,000.00 05/16/07 594 136 730 4.043% 65,729.88 59,850.00 5,879.88 943 FNMA Coupon Note 07/01/05 749,03150 05/17/07 548 137 685 3.815% 42,902.53 38,750.00 4.152.53 930 FHLMC Coupon Note 02/24/04 2,505,250.00 08/24/07 1041 236 1277 3.156% 225,499.68 201,250.00 24,249.68 946 FHLMC Discount Note 08/15/05 1,500000.00 11/15/07 503 319 822 4.496% 91937.86 67,500A0 25 437.86 944 FNMA Coupon Note 07/01/05 984,074.54 12/15/07 548 349 897 3.807% 56,246.90 45,486.11 10,760.79 947 FHLMC Discount Note 08/15/05 999,700.03 02/15/08 503 411 914 4.513% 62,174.19 45,000.00 17,174.19 USTreasurv Note 05/12/06 1,986,562.50 03/31/08 233 456 689 5.000% 63,406.72 35,635.25 27,771.47 945 FHLB Coupon Note 07/01/05 755,975.25 04/18/08 548 474 1022 3-803% 43,163.99 40132.81 3,031.18 USTreasurv Note 06/15/06 1990312.50 05/31/08 199 517 716 5.135% 55,721.39 44,754.10 10,967.29 USTreasury Note 07/19/06 738,281.25 02/15/09 165 777 942 5.157% 17,211.16 2,517.27 14,693.89 FHLB Coupon Note 05/12/06 1.498,035.00 03/13/09 233 803 1036 5.298% 50,663.71 26,468.75 24,194.96 USTreasury Note 05/15/06 1,992,343.75 05/15109 230 866 1096 5.014% 61948.24 48,750,00 14,198.24 FHLB Coupon Note 06/15/06 1,493,400.00 06/12/09 199 894 1093 5.22690 42,550.61 38,718.75 3,831.86 FFCB Coupon Note 07/19/06 723562.50 07/17/09 165 929 1094 5-408% 17,689.02 17,689.02 USTreasury Note 11/17/06 748,066.41 11/15/09 44 1050 1094 4.734% 4,269.02 4,269.02 USTreasury Note 10/19/06 976,40625 04/15/10 73 1201 1274 4.744% 9,264.14 9,264.14 FHLB Coupon Note 08/22/06 1,507,665.00 06/11110 131 1258 1389 4.95790 26,822.68 ]7,625,00 9,197.68 FNMA Discount Note 09/29/06 1.516,485.00 04/15/11 93 1566 1659 4.874% 18,832.75 3,416,67 15,416.08 USTreasury Note 10/19/06 990,078.13 09/30111 73 1734 1807 4-721% 9.34832 9,348.32 FNMA Coupon Note 02122/05 195358.60 02/15107 677 46 723 3.363% 12,185.83 7,032.64 5,153.19 FHLMC Coupon Note 06/25/03 662,652.00 03/15107 1285 74 1359 1.94690 45,39820 94,250.00 (48,851.80) FNMA Coupon Note 06/30/03 333,59766 04/15107 1280 105 1385 2.150% 25,152.35 51,843.75 (26.691.40) FHI..MC MTN Coupon Note 06/27/03 402.556.00 05/29107 1283 149 1432 2-808%n 39,733.53 41,033.33 (1,299.80) FNMA Coupon Note 06/30/03 375,219.60 07/15/07 1280 196 1476 2.359% 31,040.63 45,244.79 (14,204.16) FHLB Coupon Note 06/24/03 672,825.60 11/15107 1286 319 1605 2.257% 53,503.50 75,973.33 (22,469.83) FNMA Coupon Note 06/24/03 299,475.00 12/24/07 1286 358 1644 2.528% 26,673.85 26,250.00 423.85 FNMA Coupon Note 06/27/03 649,785.94 01115/08 1283 380 1663 2.49210 56,91833 62,448.50 (5,530.17) FHLMC Coupon Note 09/30/04 198,630.00 02/25108 822 421 1243 3.462% 15,486.41 12,368.06 3,118.35 FHLMC Coupon Note 06/26/03 657.396.09 03/15/08 1284 440 1724 2.294% 53,050.89 57,104.83 (4,053.94) FHLB Coupon Note 06/30/03 286,162.50 04/15/08 1280 471 1751 163390 26,422.91 48,387.50 (21.964.59) FHLB Coupon Note 06/26/03 661,764.30 05/13/08 1284 499 1783 2.507% 58,361.95 116,482.11 (58,120.16) FHLMC MTN Coupon Note 06/30/03 228,298.00 06/13/08 1280 530 1810 2.894% 23,169.56 21,838.82 133074 FHLMC Coupon Note 06/24/03 500,000AO 06/18/08 1286 535 1821 2.750% 48,445.21 48,125.00 320.21 FNMA Coupon Note 09/30/04 198,597.0) 08/15108 822 593 1415 3.442% 15,394.39 12,187-50 3.206.89 FNMA Coupon Note 11/16/04 199,216.00 09/15/08 775 624 1399 3.866% 16,352.90 13,729.17 2,623.73 FNMA Coupon Note 01/19/05 248,157.50 09/15/08 711 624 1335 3.974% 19,21021 15,520.83 3.689.38 FNMA Coupon Note 11/16/04 199,552.00 11/17/08 775 687 1462 3.936% 16,677.08 15,521.53 1,155.55 FHLMC Coupon Note 07/07/05 296,403.00 01/12/09 542 743 1285 4.313% 18,983.16 12,432.29 6,550.87 FNMA Coupon Note 01/21/05 242,400.00 03/16/09 709 806 1515 3.930% 18,504.55 12,912.33 5,592.22 FHLMC Coupon Note 06/17/05 300,198.00 07/30/09 562 942 1504 4.359% 20148.29 14,692.71 5,455.58 FHLMC Coupon Note 08/01/05 298,332.00 07/30/09 517 942 1459 4.527% 19,129.69 13,088.54 6,041.15 FHLMC Coupon Note 06/14/05 298,683.00 09/01/09 565 975 1540 4.237% 19,589.55 15,021.87 4,567.68 FHLMC Coupon Note 01/21/05 14906.50 09/01/09 709 975 1684 4.180% 12,153.81 9,968.75 2.185.06 FHLMC Coupon Note 06/14/05 299,331.00 01/25/10 565 1121 1686 4.431% 20,530.95 14,619.79 5.911.16 FHLMC Coupon Note 12/28/06 1.522.350.00 07/20/11 3 1662 1665 5.375% 67255 672.55 Subtotal 39.065.086.32 Union MM 392.56041 30 30 4.80% 1,548.73 1.548.73 Purchased Interest 41.006.15 LAIF' N/A 09/30/06 23,367,390.59 12/31/06 92 O 92 5.11%, 253,578.07 253.578.07 $62,866,043.47 397 4.50% $1255,44029 $1,825.135.33 $430,304.96 Maturity Profile Amount Percent 0-1 year 1-2 years 2-3 years 3-5 years Market to Cost Position Report 532514 .227.10 59.6710 $9.760 .109.58 15.53`10 88779 ,391.41 13.97% $6.812 ,315.38 10.84% ,561866 .043.47 100.00% Amortized Market Unrealized * Source: Treasury and Agency Obligations - Union Bank of California Da Institution Security Cost value' (lain (Loss) LAIF balances per Local Agency Investment Fund monthly statement. Union Bank Assets 539,065,08632 $38,637361.15 (427,725.17) Union MM 392,560.41 392,560.41 0.00 Purchased Interest 41,006.15 41,006.15 0.00 LAW 23367390.59 23.367.390.59 0.00 Totals: $62,866,043.47 $62,438,318.30 ($427,725.17) page 5 s n Meeting date: March 19, 2007 Item No: Town of Los Gatos Treasurer's Report for the month ended January 31, 2007 Submitted March 14, 2007 by Linda L. Speicher Distribution: Town Clerk Town Manager Town Council ~ -_s n Town of Los Gatos Summary Investment Information January 31, 2007 Weighted Average Portfolio Yield: 4.57% Weighted Average Maturity (days) 429 This Month Last Month One year ago Portfolio Balance $69,236,890 $65,103,869 $61,146,352 Benchmarks/ References: Town's Average Yield 4.57% LAIF Yield for month 5.16% 3 mo. Treasury 5.15% 6 mo. Treasury 5.18% 2 yr. Treasury 4.93% 5 yr. Treasury (most recent) 4.86% Prime rate 8.25% Most recent auctions of Freddie Mac or Fannie Mae Reference Notes: 3 yr. Freddie Mac (02/09/07) 4.89% 2 yr. Freddie Mac (01/]6/07) 5.01% 4.50% 3.43% 5.11% 3.96% 5.00% 4.49% 5.09% 4.60% 4.77% 4.43% 4.70% 4.37% 8.25% 7.50% Portfolio Maturity Profile 2-3ye, 14% i-2 ye 15% - I year 60% 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 I 3 - 5 years 11% Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances January 31, 2007 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 565,103,869.35 $66,482,899.82 6,356,417.37 25,058,521.05 (1223,396.45) (22,304,530.60) $69,236,890.27 $69,236,890.27 $501,711.36 39,094,038.09 23.620.968.66 63,216,718.11 6,020.172.16 $69,236,890.27 Portfolio Investment Allocation Union MM 0.8% page 2 T ~ Town of Los Gatos Non-Treasury Restricted Fund Balances January 31, 2007 Previous Ending Balance Deposits Interest Withdrawals Balance Non-Treasury Funds Downtown Parking District 12/20/02 5249,359.65 $955.53 $250.315.18 Note I Certificates of Participation Reserve Fund (Lot 4) 259,187.63 1.029.61 260,217.24 Note 2 Cert, of Participation Lease Payment Fund (Lot 4) 106,173.67 18,753.99 392.64 125,320.24 Nom 3 Cert. of Participation 2002 Series A Const. Fund 419,653.40 17.77 1.26 419.669.91 Nom 4 Cert. of Participation 2002 Series A Reserve Fund 783,919.44 407.17 3253 784,294.08 Note 4 Cert. Of Participation 2002 Series A Interest Fund 326.05 1.27 0.01 327.31 Cert. Of Participation 2002 Series A COI Fund 0.00 0.00 0.00 0.00 Nom 4 Total Restricted Funds: $1,818.61938 $18,753.99 $2,803.99 $33.80 $1.840.143.96 These accounts are not part of the Treasurer fund balances reported elsewhere in this report, as they are for separate and distinct entities. Note l: 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 K Town of Los Gatos Statement of Interest Earned January 31, 2007 Current Fiscal Month Year to Date Interest received from Investments $351,011.00 $1,497,844.52 Add: Interest accrued at end of period (see page 5) 325,190.24 325,190.24 Less: Interest accrued at beginning of period (430,304.96) (268,699.72) Interest earned on investments $245,896.28 $1,554,335.04 Page 4 i 2 14 Town of Los Gatos Inactive Deposits by Institution Market to Cost Position Report January 31, 2007 Deposit Amortized Maturity Days Days to Days Yield to Interest Interest Interest Dep Institution Securitv Date Cost Date Elapsed Maturity Invested Maturity Earned Received Accrued 940FHLB Coupon Note 03/16/05 543,228.45 02/09/07 686 9 695 3.930% 40,12419 21,402.65 18,721.54 929 FNMA Coupon Note 02/09/04 2,000,000.00 05/09/07 1087 98 1185 3.000% 178,684.93 150,000.00 28.684.93 942FHLB Coupon Note 05/16/05 999,000.00 05/16/07 625 105 730 4.043;'0 69,160.22 59,850.00 9.310.22 943 FNMA Coupon Note 07/01/05 749,032.50 05/17/07 579 106 685 3.815% 45.329.50 38,750.00 6,579.50 930 FHLMC Coupon Note 02/24/04 2,505,250.00 08/24/07 1072 205 1277 3.156% 232.214.85 201,250.00 30.964.85 946 FHI.,MC Discount Note 08/15/05 1,500,000.00 11/15/07 534 288 822 4.496%r, 98,665.64 67.500.00 31.165.64 944 FNMA Coupon Note 07/01/05 984,074.54 12/15/07 579 318 897 3.807% 59,428.75 45,486.11 13.94164 947 FHLMC Discount Note 08/15/05 999,700.00 02/15/08 534 380 914 4.513% 66,006.00 45.000.00 21.006.00 USTreasury Note 05/12/06 1,986,562.50 03/31/08 264 425 689 5.000% 71,842.81 35,635.25 36,20256 945 FHLB Coupon Note 07/01/05 755,975.25 04/18/08 579 443 1022 3.803% 45,605.75 40.132.81 5.47294 USTreasury Note 06/15/06 1,990,312.50 05/31/08 230 486 716 5.135% 64,401.60 44,754.10 19.647.50 USTreasury Note 07/19/06 738,281.25 02/15/09 196 746 942 5.157% 20,444.77 1517.27 17.92750 FHLB Coupon Note 05/12/06 1.498.035.00 03/13/09 264 772 1036 5.298% 57,40437 26.468.75 30.935.62 USTreasury Note 05/15/06 1,992,343.75 05/15/09 261 835 1096 5.014% 71.432.56 48.750.00 2168256 FHLB Coupon Note 06/15/06 1,493,400.00 06/12/09 230 863 1093 5.226% 49,179.09 38,718.75 10,460.34 FFCB Coupon Note 07/19/06 723,562.50 07/17/09 196 898 1094 5.408% 21,012.41 15,296.87 5.715.54 USTreasury Note 11/17/06 748,066.41 11/15/09 75 1019 1094 4.734% 7,276.74 2276.74 USTreasury Note 10/19/06 976,406.25 04115110 104 1170 1274 4.744% 13,198.23 13.19823 FHLB Coupon Note 08/22106 1,507,665.00 06/11/10 162 1227 1389 4.957% 33,170.03 17,625.00 15,545.03 FHLB Coupon Note 01/12/07 1,487,205.00 08/10/10 19 1287 1306 4.960% 3,839.84 3,839.84 FNMA Discount Note 09/29/06 1,516,485.00 04/15/11 124 1535 1659 4.874% 25,110.33 3.416.67 21,693.66 USTreasury Note 10/19/06 990978.13 09/30/11 104 1703 1807 4.721% 13,318.15 13.318.15 FNMA Coupon Note 02/22/05 195,358.60 02/15/07 708 15 723 3.363% 12,743.82 7.032.64 5.71L 18 FHLMC Coupon Note 06/25/03 662,652.00 03/15/07 1316 43 1359 1.946% 46,493.41 94,250.00 (42756.59) FNMA Coupon Note 06/30/03 333,597.66 04/15/07 1311 74 1385 2.150% 25,761.51 51,843.75 (26,082.24) FHLMC MTN Coupon Note 06/27/03 401556.00 05/29/07 1314 118 1432 2.808% 40,693.58 41,033.33 (339.75) FNMA Coupon Note 06/30/03 375,219.60 07/15/07 1311 165 1476 2.359% 31,792.40 52,682.29 (20.889.89) FHLB Coupon Note 06/24/03 672,825.60 11/15/07 1317 288 1605 2.257% 54,793.24 75,973.33 (21,180.09) FNMA Coupon Note 06/24/03 299,475.00 12/24/07 1317 327 1644 2.5287 22316.85 26,250.00 1.066.85 FNMA Coupon Note 06/27/03 649,785.94 01/15/08 1314 349 1663 2.492% 58,293.60 72,686.00 (14392.40) FHLMC Coupon Note 09/30/04 198,630.00 02/25/08 853 390 1243 3.4627 16,070.45 12,368.06 3,702.39 FHLMC Coupon Note 06/26/03 657,396.09 03/15/08 1315 409 1724 2.294% 54331.72 57,104.83 (1773.11) FHLB Coupon Note 06/30/03 286,162.50 04/15/08 1311 4,40 1751 2.6337 27.062.84 48,387.50 (21,324.66) FHLB Coupon Note 06/26/03 661,764.30 05/13/08 1315 468 1783 2.507% 59,771.00 116,482.11 (56,711.11) FHLMC MTN Coupon Note 06/30/03 228,298.00 06/13/08 1311 499 1810 2.894% 23,730.70 21,838.82 1.891.88 FHLMC Coupon Note 06/24/03 500,000.00 06/18/08 1317 504 1821 2.7507 49,613.01 48.125.00 1.488.01 FNMA Coupon Note 09/30/04 198.597.00 08/15/08 853 562 1415 3.442% 15.974.96 12,187.50 3,787.46 FNMA Coupon Note 11/16/04 199,216.00 09/15/08 806 593 1399 3.8667 17.00202 13,729.17 3,277.85 FNMA Coupon Note 01/19/05 248.157.50 09/15/08 742 593 1335 3.9747 20,047.78 15,520.83 4526.95 FNMA Coupon Note 11/16/04 199,552.00 11/17/08 806 656 1462 3.9367 17,344.16 15,521.53 L822.63 FHLMC Coupon Note 07/07/05 296,403.00 01/12/09 573 712 1285 4.3137 20.068.91 18,244.79 1.824.12 FNMA Coupon Note 01/21/05 241400.00 03/16/09 740 775 1515 3.9307 19.313.64 12,912.33 6.401.31 FHLMC Coupon Note 06/17/05 300.198.00 07/30/09 593 911 1504 4.3591/, 21,259.67 21.255.21 4.46 FHLMC Coupon Note 08/01/05 29833200 07/30/09 548 911 1459 4.5277 20,276.74 19,651.04 625.70 FHLMC Coupon Note 06/14/05 298,683.00 09/01/09 596 944 1540 4.237% 20.664.38 15,021.87 5.64151 FHLMC Coupon Note 01/21/05 149.686.50 09/01/09 740 944 1684 4.180% 11685.21 9,968.75 2.71646 FHLMC Coupon Note 06/14/05 299,331.00 01/25/10 596 1090 1686 4.431% 21.657.43 21,182.29 475.14 FHLMC Coupon Note 12/28/06 1522350.00 07/20/11 34 1631 1665 5.375% 7,622.18 5,270.83 2,351.35 Subtotal 39.061.291.32 Union MM 501.711.36 30 30 4.81% 1.983.48 1,98148 Purchased Inter est 32,746.77 LAIF N/A 12/31/06 23,620,968.66 03/31/07 31 59 90 5.16% 103,043.81 103.043.81 $63,216,718.11 429 4.57% $2.134268.27 51 809 078 03 $325.190.24 Maturity Profile 0-1 year 1-2 year, 2-3 years 3-5 years Amount Percent $37,027,482.68 58577 $9,406,726.64 14.887 58,782,319.41 13.897 58.000.18938 12.667 $63,216,718.11 100.00% Market to Cost Position Report Amortized Market Unrealized * Source: Treasury and Agency Obligations - Union Bank of California Dep Institution Securitv Cost Values Gain (Loss) LAIF balances per Local Agency Investment Fund monthly statement. Union Bank Assets $39.061,291.32 $38,577,709.25 (483,582.07) Union MM 501311.36 501.71136 0.00 Purchased Interest 32,746.77 31746.77 0.00 LAIF 23.620 968.66 23.620.968.66 000 Totals: $63,216,718.11 $62,733,136.04 ($483,582.07) page 5