01 Staff Report - Treasurer's Reports November and December
DATE: COUNCIL AGENDA REPORT January 19, 2009 MEETING DATE: 02/02/09 ITEM NO. TO: FROM: MAYOR AND TOWNCOUNCa LINDA SPEICHER, PROJECT MGR. FOR TOWN TREASURER SUBJECT: TREASURER'S REPORTS
FOR NOVEMBER AND DECEMBER 2008 RECOMMENDATION: Accept reports as attached. DISCUSSION: Attached for your review and acceptance are the Treasnrer's reports for the months of November
and December 2008. During the month of December one Fannie Mae note with a face of$1 million and a yield to maturity of4% was called and the principal and accrued interest received.
These funds were left in cash until January 2009, due to the poor market conditions for reinvestment. In January 2009 another Fannie Mae note with a face of $1,250,000 and a yield to
maturity of 3.8% was also called. In January these funds were reinvested into two FHLMC (Freddie Mac) notes. The first, with a face of $1 million, coupon of3.625% and a yield to call
of .85%, is callable in July 2009. The second, with a face of $2 million, coupon of 3.375, and a yield to call of 1.91 %, is callable in March 2009. Both are short term investments,
since it is almost certain they will be called. Both were rated AAA. Also during the month of December 2008 $6 million from the sale of land to the county was received and deposited
with LAIF. The re-investment· strategy at this point is to invest mostly in callable agency bonds with short term call features, due to the ever changing market conditions. These bonds
will typically yield more in the short term, and if not called will yield decent returns for the longer tenn. ENVIRONMENTAL ASSESSMENT: Is not a project defined under CEQA, and no further
action is required. filSCAL IMPACT: None Attachments: Treasurer's reports dated January 19,2009. JPREPARED BY: Linda L. Speicher, Project Mgr. to the Town Treasurer Reviewed by:
Manager P':ijAssistant Town Manager __Town Attorney __Clerk¥inance__Cornrnunity Development Revised: 1/29/09 10:39 am Distribution: Town Council; Town Manager; Finance Director Reformatted:
5/30/02
Distribution: Town of Los Gatos Treasurer's Report for the month ended December 31, 2008 Snbmitted January 19,2009 by Linda L. Speicherr Town Clerk Town Manager Town Council Meeting
date: February 2. 2009 Hem No:
Town of Los Gatos Summary Investment Information December 31, 2008 Wcigbted Average Portfolio Yield: 3.36% Weighted Average Maturity (days) 350 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 $79,618,978 3.36% 2.35% 0.05% 0.25% 0.92% 1.54%
3.25% Last Month $75,902,838 3.56% 2.57% 0.50% 1.52% 1.27% 2.11% 4.00% One year ago $69,181,668 4.57% 4.73% 3.39% 3.51% 3.29% 3.65% 7.25% Most recent auctions of Freddie Mac or Fannie
Mae Reference Notes: 3 yr. Pannie Mac (01/08/09) 2.01% 2 yr. Freddie Mac (01/08/09) 1.50% 2 -3 years 1 -2 years 14% Portfolio Maturity Profile 3 -5 years 9% -I year 64% Compliance: The
Town's investments are in compliance with the Town's investment policy dated May 1,2008 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 AJlocation & Treasurer's Fund Balances December 31, 2008 Fllnd 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 $75,902,837.70 6,026,512.34
(2,310,372.47) $79,618,977.57 $2,152,060.03 40,641,184.34 31.496,040.12 74,289,284.49 5.329.693.08 $79,618,977.57 YTD $76,714,634.03 23,799,814.97 (20.895.471.43) $79,618,977.57 Portfolio
Investment Allocation Union MM 2.9% Local Agency InvestmenL Fund 42.4% l Treasury, Agencies, & Corp. Noles 57.8% Treasurer's Fund Balances RO,OOO,OOO 78,000,000 76,000,000
74,000,000 72,000.000 70.000.000 68,000,000 -66,000,000 64.000.000 62.000,000 '! " 0 0 :'1 " i! <: '" ---pagel o
1: oz
Town of Los Gatos Non-Treasury Restricted Fund Balances December 31, 2008 Previous Balance NOll-Treasury Funds: Downtown Parking District 12120/02 Celtificates of Palticipatioll Reserve
Fund (Lot 4) Cert. or Participation Lease Payment Fund (Lot 4) Celt. of Participation 2002 Series A C6nst. Fund Cert. of Pmticipation 2002 Series A Reserve Fund Cell. Of Participation
2002 Series A Interest Fund Cert. Of Pmticipation 2002 Series A COl Fund Total Restricted Funds: $271,886.49 254,992.15 84,679.89 146,448.13 687.784.89 109.51 0.00 $1,445.901.06 20,165.17
Ending Interest Withdrawals Balance $1,008.25 $272,894.74 NlIte I 3.13 254,995.28 NlIte2 0.79 104,845.85 NlIle3 0.04 0.04 146,448.13 Nole4 56.47 56.47 687,784.89 Nole4 0.00 109.51 Note
4 0.00 0.00 0.00 Note 4 $1,068.68 $1,467,078.40 These accounts arc not part of the Treasurer's fund balances reported elsewhere in this report, as they are for separate and distinct
eutities. Note I: This account include redemption accounts set up for the repayment of interest and principal on outstanding bOlld coupons for Parking Assessment District '3', as well
as Reserve Funds set up as required by the original Bond resolution. Note 2: The reserve fUlld was a requiremellt of the original certificates of participation agreement when Lot 4 was
built. It helps to guarantee paymellt of the lease payments should the Towu not make payment. Noll' 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 dlle semi-annually. Note 4: The Ihree fllnds for the Certif1cates of Palticipation 2002 Series
A consist of eonstl1lction funds which will be expended over the next few ye<lrs. reserve funds which will guarantee the payment of lease payments, ami 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 December 31, 2008 Current Fiscal Month Year to Date $140,928.64 $1,343,551.90 658,636.92 658,636.92 (590,923.36) (715,999.95) $208,642.20 $1,286,188.87
Interest by Month July 2008 August 2008 September 2008 October 2008 November 2008 December 2008 January 2009 February 2009 Marcb 2009 April 2009 May 2009 June 2009 Page 4 225,065.95
233,228.31 212,244.77 207,308.72 199,698.92 208,642.20 1,286,188.87
Town or Los Gatos Inactive Deposits by Institution Market to Cost Position Report December 31, 2008 Deposit Amortized Maturity Days Days to D,l" Yield to Interest Interest Interest Institution
Security Date Qlli Date Elapsed Maturity Invested Maturity Eamed Receivcd Accrued FHLMC Coupon Note 07/07/05 296,403.00 01/12/09 1273 12 1285 4.313% 44,585.91 35,682.29 8,903.62 USTreasm)'
Note 07/19/06 738,281.25 02/15/09 896 46 942 5.157% 93,461.79 70,017.27 23,444.52 FHLB Coupon Note 05/12/06 1,498,035.00 03/13/09 964 72 1036 5.298% 209,612.94 183,968.75 25,644.19 USTreasur)'
Note 05/15/06 1,992,343.75 05/15/09 961 135 1096 5.014% 263,014.16 243,750.00 19,264.16 FI-ILB Coupon NOle 06/15/06 1.493.400.00 06/12/09 930 163 1093 5.226% 198,854.60 196.218.75 2,635.85
FFCB Coupon Note 07/19/06 723.562,50 07/17/09 896 198 1094 5.408% 96,056.75 61,703.12 34.353.63 FHLMC Coupon Note 06/17/05 300,198.00 07/30/09 1293 211 1504 4.359% 46,355.40 40,942.71
5,412.69 FHLMC Coupon Note 08/01/05 298.332.00 07/30/09 1248 211 1459 4.527% 46,177,67 39,338.54 6,839.13 USTreasury Note 06102/08 1,537,617.20 07/31/09 212 212 424 2.426% 21,666.16
11,244.85 10,421.31 FpCB Coupon Note 04/02/08 2,010,820.00 08/04/09 273 216 489 2.286% 34,381.06 18,300.00 16,081,06 USTreasury Note 03125/08 1,024,062.50 09/15/09 281 258 539 1.709%
13,473.55 15,957.88 (2,484.33) USTreasury Note 11/17/06 748,066.41 11/15/09 775 319 1094 4,734% 75,192.97 69,183.36 6,009.61 US'I'wasury NOle 06/02/08 1,514,941.41 12131/09 212 365 577
2.602% 22,895.29 28,125.00 (5,229.71) FHLMC Coupon Note 06/14/05 299,331.00 01125/10 1296 390 1686 4.431% 47,094.00 40,869.79 6,224.21 ML Corp Corporate Note 04/10/07 976,150.00 02/08/10
631 404 1035 5.165% 87,161.24 56,430.56 30,730.68 USTreasury Notc 06124/08 739,921.88 02128/10 190 424 614 2.819% 10,857.80 2,771.74 8,086.06 USTreasury Note 10/19/06 976,406.25 04/15/10
804 470 1274 4.7'14% 102,032.47 79,560.44 22,472.03 FI-ILB Coupon Note 08/22/06 1,507,665.00 06/11110 862 527 1389 4.957% 176,497.34 175.125.00 1,372.34 H-ILB Coupon Note 01112/07 1.487,205.00
08/10110 719 587 1306 4.960% 145,307.67 111,233.33 34,074.34 FFCB(2) Coupon Note 09/15/08 1,500.000.00 091l 5/1 0 107 623 730 3.300% 14,510.96 14,510.96 USTreasury Note 05/31/07 737,226.56
10115/10 580 653 1233 4.801% 56,242.91 43,806.35 12,436.56 FFCB COUPOIl Note 12/07/07 2,032,140.00 11108/10 390 677 1067 3.715% 80,664.82 79,072.22 1,592.60 FFCE Coupon Note 01118/07
756,922.50 011l8/11 713 748 1461 3.175% 46,945.27 13,125.00 33,820.27 pFeB Coupon Note 11128/07 2,062,000.00 02/18/11 399 779 1178 3.840% 86,556.55 70,416.67 16,139.88 FNMA Discount
Note 09/29/06 1,516,485.00 04/15/11 824 835 1659 4.874% 166,862.21 157,166.67 9,695,54 F1ILMC(3) Coupon NOle 12/28106 1,522,350.00 07/20/11 734 931 1665 5.375% 164,549,35 134,645.83
29,903.52 USTreasury Note 10/19/06 990,078.13 09/30/11 804 1003 1807 4.721% 102,959.55 87,651.10 15,308.45 FFCB Coupon Note 12/12107 2,025,080.00 11/21/11 385 1055 1440 4.000% 85,441.73
81,683.33 3,758.40 FFCI3 Coupon Note 02122/07 986,080.00 12108/11 678 1072 1750 4.959% 90,832.88 82,993.06 7,839.82 FIILH Coupon Note 05/09/07 1,509,255.00 03/09112 602 1164 1766 4,743%
118,064.51 100,000.00 18,064.51 n-llE Coupon Note 11129/07 2,038,360.00 08/15/12 398 1323 1721 4.170% 92,684,51 65,777.78 26,906,73 GE Corporak Note 01/16108 1,542,165.00 10/19/12 350
1388 1738 4.587% 67,832.02 59,718.75 8,113.27 FNivlA(I) Coupon Note 02121108 1,260,300.00 01/02/13 314 1463 1777 4.562% 49,461.35 21,605.90 27,855.45 Subtotal 40,641,184.34 UnionMM 2.152.060.03
30 30 2.13% 3.767.58 3,767.58 Pmchascd Interest LAIF N/.'\ 09/30/08 31,496.040.12 12/31108 92 0 92 2.35% 174.667.99 174,667.99 $74,289,284.49 350 3.36% $3,136,722.96 $2,478,086.04 $658,636.92
Matllrit)' Profile Amount Percent 0-1 year $47,824,163.17 64.38% 1-2 years $10,256,045.69 13.81% 2-3 years $9,858,995.63 13.27% 3-5 years $6,350,080.00 8.55% $74,289,284.49 100.00% Market
10 Cost Report Amortized Market Unrealized * Source: Treasury and Agency Obligations -Union Bank of Ca1iromia Institution COSt Vallle* Gain Gain (Loss) LAIF balances
per Local Agency Investment [<und monthly statement. Union Bank Asscts $40,641,184.34-$42.151,418.00 1,510,233.66 UniouMM 2,152,060,03 2,152,060.03 0.00 Purchased Interest 0.00 0.00
0.00 LAIF 31,496,040.12 31,496,040.12 0.00 . Totals' $74,289,284.49 $75,799,518.15 $1,510,233,66 ( I) (:allablc once on 1/2/09 (2) Callable oncc on 9115/09 (3) Callable once 011 7/20/09
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Nov-O! Aug-O! Mny-Ol _ _ M M M M M NNW • • a a g g b g b b b g b g g o 0 a a 000 0 0 0 000 p p p p p p p p p p p p p § § § § § § § § § § § § §
Noy-99 Pcb-DO May-DO Aug-DO Nay-DO Aug-Oil
Distribution: Town of Los Gatos Treasurer's Report for the month ended November 30, 2008 Snbmitted January 19, 20y09 by Liuda L. Speicber Town Clerk Town Manager Town Council Meeting
date: February 2, 2009 Item No:
Town of Los Gatos Summary Inyestment Information November 30, 2008 Weighted Average Portfolio Yield: 3.56% Weighted Average Maturity (days) 423 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 $75,902,838 3.56% 2.57% 0.50% 1.52% 1.27% 2.1
1% 4.00% Last Month $69,737,823 3.64% 2.77% 1.18% 1.57% 2.12% 3.13% 5.00% Onevear ago $65,620,942 4.66% 4.96% 3.25% 3.45% 3.16% 3.42% 7.50% i\1ost recent auctions of Freddie Mac or Fannie
Mae Reference Notes: 3 yr. Fannie Mae (I 1/19/08) 2.95% 2 yr. Freddie Mac (10/10/08) 2.88% Portfolio lVlaturity Profile 3 -5 years 11% 2 -3 years ]4% 1-2 years 17% 0-1 year 58% Compliance:
The Town's investments are in compliance with the Town's investment policy dated May 1, 2008 and also in compliance with the requirements of Section 53601 of the California State Code.
Based 011 the information available, the Town has sufficient funds to meet the cash demands demands for the next six months. Page I
Town of Los Gatos Portfolio Allocation & Treasurer's Fund Balances November 30, 2008 Fund Balances -Beginning of MonthlPeriod 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 $69,737,823.27 8,829,484.31
(2,664,469.88) $75,902,837.70 $1,002,865.92 41,649,744.34 25,496,040.12 68,148,650.38 7,754,187.32 $75,902,837.70 YTD $76,714,634.03 17,773,302.63 (18,585.098.96) $75,902,837.70 Portfolio
Investment Allocation Union MM 1.5% Local Agency Invcstmcnl Fund 37.4% TrCHsurer's Fund Balances Treasury, Agencies, & Corp. Notes 57.8% $78.000.000 -,-----$76,000,O{)() $7'1,000,000
$72,000,000 $70,000,000 $68,000,000 $66,000,000 sBa w w w w w w w w w w a a a a a a a a a .b ;;. ] '" i; , & , 0 -< :>0 -< w 0 Z page 2
Town of Los Gatos Non-Treasury Restricted Fund Balances November 30, 2008 Previous Balance Non-'rrcasury Funds: Downtowll Parking District 12120/02 Certificates of Paliicipation Reserve
Fund (LOl4) CCH. of P.aIiicipation Lease Paymelll [<und (Lot 4) Cerl. of Participation 2002 Series A Canst. Fund Cell. ofParlicipation 2002 Series A Reserve Fund Celi. Of Paliicipation
2002 A Interest Fund Celi. Of Participation 2002 Series A COl Fund Total Restricted Funds: $270.848.61 254.968.48 64,511.01 239,448.09 687,784.03 109.51 0.00 $1.517,669.73
20,165.17 $20,165.17 Ending Interest Withdrawals Balance $1,037.88 $271.886.49 Nolet 23.67 254,992.15 Noll' 2 3.71 84,679.89 Note] 0.08 93,000.04 146,448.13 Note <I 87.98 87.12 687,784.89
Note <I 0.00 lO9.51 Noll''' 0.00 0.00 0.00 Noll''' $1,153.32 $93,087.16 $1,445,901.06 These accounts arc not part of the Treasurer's fund balances reported elsewhere in this repOti,
as they are for separate and distinct entities. Nole 1: This account include redemption accounts set up for the repayment of interest and principal on outstanding bond COUpOliS 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 requiremem of the original certificates of pal1icipatioll
agreement when Lot 4 was built. It helps 10 guarantec 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 thecel1ificales of participation arc due semi-annually. Note 4: The three funds for the Celtificates of
Palticipation 2002 Series A consist of construction funds which will be expended over the next few years. reserve funds which will gmlrantee the payment of lease payments, and a third
fund for the disbursement of lease paymcllls and inilial 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, 2008 Current Fiscal l\!lonth Year to Date $154,367.53 $1,202,623.26 590,923.36 590,923.36 (545,591.97) (715,999.95) $199,698.92 $1,077,546.67
Interest by Month July 2008 Augusl2008 September 2008 October 2008 November 2008 December 2008 January 2009 February 2009 March 2009 April 2009 May 2009 June 2009 Page 4 225,065.95 233,228.31
212,244.77 207,308.72 199,698.92 1,077,546.67
Town of Los Gatos Inactive Deposits by Inslitution Market to Cost Position Report November 30, 2008 Deposit AmOltized Maturity Days Days to Days Yield to Interest Interest Interest Institution
Security Date Cost Date Elapsed Maturity Invested Maturity Earned Received Accrued FHLMC Coupon Note 07/07/05 296,403.00 01112/09 1242 43 1285 4.313% 43,500.15 35.682.29 7,817.86 USTreasury
Note 07119/06 738,281.25 02/15/09 865 77 942 5.157% 90,228.18 70,017.27 20,210.91 FHLB Coupon Note 05/12/06 1.498,035.00 031l3/09 933 103 1036 5.298"/" 202.872.27 183.968.75 18.903.52
USTrcasury Note 05fl5106 1.992.343.75 05/15/09 930 166 1096 5.014% 254,529.83 243,750.00 10.779.83 FHLB Coupon Note 06fl5106 1.493.400.00 06/12/09 899 194 1093 5.226% 192.226.11 156,843.75
35.382.36 FFCI3 Coupon Nole 07fl9/06 723,562.50 07117/09 865 229 1094 5.408% 92,733.36 61,703.12 31,030.24 FHLMC Coupon Note 06fl7/05 300.198.00 07/30/09 1262 242 1504 4.359% 45,244.02
40.942.71 4,301.31 FHLMC Coupon Note 08/01/05 298,332.00 07/30/09 1217 242 1459 4.527% 45,030.63 39,338.54 5,692.09 USTreasury Note 06102f08 1,537,617.20 07/31/09 181 243 424 2.426%
18,498.00 11,244.85 7,253.15 FFCB Coupon Note 04/02f08 2,010,820.00 08/04/09 242 247 489 2.286% 30,476.98 18,300.00 12,176.98 USTreasury Note 03/25/08 1,024,062.50 09/15/09 250 289 539
1.709% 11,987.14 15,957.88 (3,970.74) USTreasury NOLC 11/17/06 748,066.41 11/15/09 744 350 1094 4.734% 72,185.25 69,183.36 3,001.89 USTreasmy Nole 06/02/08 1,514,941.41 12131/09 181
396 577 2.602% 19,547.39 3,750.00 15,797.39 FHLMC Coupon Note 06114/05 299,331.00 01125110 1265 421 1686 4.431% 45,967.52 40,869.79 5,097.73 MLCorp Corporate Note 04/10/07 976,150.00
02108/10 600 435 1035 5.165% 82,879.15 56,430.56 26,448.59 US'rrcasury Note 06/24/08 739,921.88 02/28/10 159 455 614 2.819% 9,086.26 2,771.74 6,314.52 USTreasury Note 10/19/06 976,406.25
04115/10 773 501 1274 4.744% 98,098.39 79,560.44 18,537.95 FI-ILB Coupon Note 08122/06 1,507,665.00 06/11/10 831 558 1389 4.957% 170,149.99 135,750.00 34,399.99 FIILB Coupon Note 01/12/07
1,487,205.00 08/10/10 688 filS 1306 4.960% 139,042.67 111,233.33 27,809.3'1 FFCB(l) Coupon Note 09/15/08 1.500.000.00 09115/10 76 654 730 3.300% 10.306.85 10,306.85 USTreasury Note 05131/07
737.226.56 10115/10 549 684 1233 4.801% 53.236.83 43,806.35 9,430.48 FFCI3 Coupon Note 12107107 2.032,140.00 11/08110 359 708 1067 3.715% 74.253.00 79.072.22 (4,819.22) FHLMC(3) Coupon
Note 04124/08 1.008.560.00 12124110 220 754 974 4.007% 2'1.358.52 7.129.17 17,229.35 ITCB Coupon Note 01118/07 756.922.50 01/18/11 682 779 1461 3.175% 44,904.17 13,125.00 31,779.17 FFCB
Coupon Note 11128/07 2,062,000.00 02118111 368 810 1178 3.840% 79,831.60 70,416.67 9,414.93 FNMA Note 09129/06 1,516,485.00 04/15/11 793 866 1659 4.874% 160,584.63
157,166.67 3,417.96 FHLMC(4) Coupon Note 12/28/06 1,522,350.00 07120111 703 962 1665 5.375% 157,599.72 134,645.83 22,953.89 USTreasllry Noll' 10119/06 990.078.13 09130111 773 1034 1807
4.721% 98,989.72 87,651. JO 11,338.62 frCB CO\lpon Nole 12112/07 2,025,080.00 11121/11 354 1086 1440 4.000% 78.562.01 81,683.33 (3,121.32) FFCB Coupon Note 02/22/07 986,080.00 12/08/11
647 1103 1750 4.959% 86,679.75 59,868.06 26,811.69 FHLB Conpon Note 05/09/07 1.509,255.00 03/09/12 571 1195 1766 4.743% 111,984.78 100,000.00 11,984.78 Frl!.B Coupon Note 11/29/07 2,038.360.00
08/15/12 367 1354 1721 4.170% 85,465.36 65,777.78 19,687.58 GE Corporate Note 01/16/08 1.542.165.00 I O/l 9/1 2 319 1419 1738 4.587% 61,824.04 59,718.75 2.105.29 FNMA(I) Coupon Note
02121108 1,260,300.00 01/02/1 3 283 1494 1777 4.562% 44,578.23 21.605.90 22.972.33 SublOlal 41.649.744.3'1 Uniolll..,lM 1.002.865.92 30 30 2.13% 1.755.70 1.755.70
LAIF N/A 09/30108 25,496.040. 12 12/31/08 61 31 92 2.57% 110,690.37 110.690.37 $68,148,650.38 423 3.56% $2,949,888.57 $2,358,965.21 $590,923.36 J\'Iatmity Profile
Amount Percent 0-1 year $39,160,027.65 57.46% 1-2 years $11,770,987.10 17.27% 2-3 years $9,881,475.63 14.50% 3-5 years $7.336.160.00 10.76% $68,148,650.38 100.00% Market to Cost })osition
Report AmOltized Market Unrealized * Source: Treasury and Agency Obligations -Union Bank of California 11IstitllLiOJ! Value* Gain LAW balances per Local Agency
Investment Fund monthly statement. Union Hank $41.649.744.34 $42.608.053.00 958.308.fi6 Union MM 1.002,865.92 1.002.865.92 0.00 Purchased Interesl 0.00 0.00 0.00 LAIF 25.496,040.12
25.4%.040.12 0.00 Totals: $68,148,650.38 $69,106,959.04 $958,308,66 (I) Callable once on 1/2/09 (2) Callable once on 9/15/09 (3) Callable once on 12/24/08 ('I) Callable once on 7/20109
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