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FY 1997 Second Quarter Investment Report
• City of Euless , Texas II • 0 S Ona Quarter Investment Report Fiscal Year 19964997 O INVESTMENT COMMITTEE MEETING June 11 , 1997 x Compliance Summary-Legislative Requirements *Second Quarter Review, FY 97 Portfolio Summary Collateral Review Interest Income Projection • FY98 Budget Request *Interest Rate Environment *Minutes Review *Appendices Appendix A- Investment Portfolio by Type of Asset Appendix B- Investment Portfolio by Fund Appendix C- Investment Purchases Appendix D- Investment Maturities Appendix E- Investment Maturities by Fund March 31 , 1997 *General Discussion or Questions W O To Investment Committee Members • From Vicki Smith UDate 6/11/97 Subject Quarterly Investment Performance Report The City of Euless Investment Policy, revised and adopted by the City Council in November 1995, requires that the City Council and City Manager receive quarterly and annual reports of investment performance. The purpose of this report is to provide a means for Council members and staff to regularly review and monitor the City's investment performance. Attached is the City's pooled funds portfolio for the second quarter of Fiscal Year 1996-97 and information for all funds for the same period. The City's investment policy provides the general framework for the investment of City funds. The policy emphasizes the City's objective of safety, liquidity, and yield , in that order. The investment policy complies with the Public Funds Investment Act effective September 1,1995 in all aspects including reporting. The second quarter report of FY 1997 is presented in a format that has been outlined in the investment policy. This report is for all funds and shows the market value at 12/3 1/96, changes in market value, the market value at 3/3 1/97, and the book value, market value, and maturity date for each investment. As required, the report indicates compliance with the adopted investment strategies, and is signed by each investment officer of the City as designated by the Investment Policy. Ext I444 Investment Strategy Compliance The strategy for all pooled funds is to assure that cash flows are matched with projected needs and assume adequate liquidity and safety. This has been accomplished by purchasing high quality securities in a laddered structure and by utilizing an investment pool (See Appendix E). The following purposes are also considered when investing; -Operating Funds may purchase high quality short- to medium-term securities with a weighted average maturity of 60 to 90 days. These funds include: 1 General Fund 21 Equipment Replacement Fund 2 Water& Sewer Fund 24 Police Drug Account-D.E.A. 12 Hotel-Motel Tax Fund 29 Drainage Utility 16 Ft. Worth DEA Task Force 34 Softball World-Operations 17 Risk Management Fund 54 Crime Control & Prevention District -Funds for Capital Improvement Projects(CIP) and Special Purposes may purchase securities which allow for flexibility and unanticipated project outlays by having a portion of their investments in highly liquid securities (See Appendix E). The stated final maturity dates of the securities should not exceed the estimated project completion date. These funds include: 8 Water& Sewer-CIP 35 Softball World-CIP 9 Developer's Escrow Fund 39 Drainage CIP 22 Golf Course-CIP 40 Water& Sewer-Impact Fees Fund 26 Streets & Drainage-CIP 50 1/2 Cent Sales Tax-Operations Fund 32 Athletic Complex-CIP -Debt Service Funds should assure adequate liquidity to cover the debt service obligation on the required payment date. These funds include: 4 Debt Service/General Obligation -Emergency, Contingency, and Debt Service Reserve funds will have the ability to generate a dependable revenue stream to the appropriate fund. The stated final maturity dates of securities should not exceed five years (See Appendix E). These funds include- 6 Water& Sewer-Emergency Fund 19 General Fund-Contingency 18 General Fund-Emergency Based on the above strategies, the investment portfolio reported herein is in compliance with the relevant provi ions of the investment policy and the Public Funds Investment Act. DianartizDirector Of Finance Ii�Smith�, Acc�ountant II 1 PORTFOLIO SUMMARY • The City's pooled investment portfolio at the end of the second quarter, March 31, 1997, is summarized by instrument and by maturity as shown below. Distribution by Instrument % of Average Prior Instrument Type $COST Portfolio Yield Quarter Agencies 24,304,324 75.30% 5.54% 5.51% Treasuries 1,449,377 4.49% 5.50% 5.50% Money Markets/Pools 6,517,320 20.19% 5.93% 5.39% Certificates of Deposit 5.000 0_02% 4.45% 4.45% $32,276,021 100.00% Compared to prior quarter's level, the average yields have remained fairly stable with the exception of the investment pools which have increased. Distribution by Maturity #of Days Cost % of Portfolio 1 -30 $7,701,525 23.86% 31 -90 $6,649,532 20.60% 91 - 180 $7,563,055 23.43% 181-365 $6,814,387 21.11% Over 365 3 547,522 10.99% Total $32,276,021 100.00% This information reflects the current structure and strategy of the City's pooled portfolio. Close to 68% of the portfolio is invested within the six month area. This strategy was followed not only to meet cashflow needs, but also because this timeframe provided the best yields for the securities available at the time of purchase. The remainder has been placed to match future cash requirements. Approximately 11% of the portfolio has been invested beyond one year in order to lock in on higher yields. We were able to comply with our investment policy by using reserve funds, escrow funds, and bond proceeds for these investments. j By Instrument By Maturity (75.3%) (20.6%) c (23.9%) Agencies ®1 -30 r9� M31 -90 Treasuries I (0.0%) 91 -180 ' M Wkts/Pool =CD's (23.4%) (11.0%) 181-365 W(20.2%) Over 365 1 V(4.5%) (21.1%) i • City of Euless Pooled Portfolio Summary for Quarter Ending March 31, 1997 Cost Book Market Principal Only Value Value Investments at December 31, 1996 $33,465,088.51 $33,591,627.88 $33,554,861.37 Investment Purchases 16,137,476.42 Investment Maturities (17,517,485.32) Investment Sales 0.00 Dividends Reinvested (Pools) 78,703.75 Investments at March 31, 1997 $32,163,783.36 $32,338,610.40 $32,276,099.fl Diana iz, Director Of Finance VAQ Vicki Smit , ccountant II Summary of Investments by Fund Market Market Increase/ Value Value Decrease 12/31/96 03/31/97 In Fund 1 $6,029,769.20 $6,279,975.32 $250,206.12 2 6,785,004.94 6,778,270.11 ($6,734.83) 4 1,318,352.72 231,789.22 ($1,086,563.50) 6 500,312.50 499,843.75 ($468.75) 8 88,756.19 89,742.97 $986.78 9 1,453,880.87 1,352,505.00 ($101,375.87) 12 135,724.84 137,223.48 $1,498.64 16 4,494.90 54,728.37 $50,233.47 17 384,497.55 638,659.84 $254,162.29 18 494,375.00 491,875.00 ($2,500.00) 19 494,375.00 491,875.00 ($2,500.00) 21 177,157.47 431,344.25 $254,186.78 22 4,211,342.60 3,588,559.82 ($622,782.78) 24 168,439.20 170,383.51 $1,944.31 26 4,072,688.04 3,750,701.80 ($321,986.24) 29 114,551.10 216,594.25 $102,043.15 32 2,417,877.57 1,582,527.73 ($835,349.84) 34 230,681.80 82,678.52 ($148,003.28) 35 422,496.41 326,057.35 ($96,439.06) 39 205,070.64 307,702.66 $102,632.02 40 819,866.76 1,314,158.33 $494,291.57 50 2,935,986.78 3,066,920.26 $130,933.48 54 89,159.28 391,983.27 $302,823.99 TOTAL: $33,554,861.36 $32,276,099.81 ($1,278,761.55) *A large portion of this decrease can be attributed to debt service payments and large capital outlays for the golf course, athletic complex and street improvements. Fund Names 1 General Fund 22 Golf Course 2 Water & Sewer Fund 24 Police Drug Account-D.E.A. 4 Debt Service/General Obligation 26 Streets & Drainage-CIP 6 Water& Sewer-Emergency Fund 29 Drainage Utility 8 Water& Sewer-CIP 32 Athletic Complex 9 Developer's Escrow Fund 34 Softball World Operations 12 Hotel-Motel Tax Fund 35 Softball World-CIP 16 Ft. Worth DEA Task Force 39 Drainage-CIP 17 Risk Management Fund 40 Water& Sewer-Impact Fees Fund 18 General Fund-Emergency 50 1/2 Cent Sales Tax-Operations Fund 19 General Fund-Contingency 54 Crime Control & Prevention District 21 Equipment Replacement Fund Cash Management Activity Average 90 Day T Bill Yield Average City Basis Point Month (Benchmark) Portfolio Yield Difference Jan 5.16% 5.52% 0.36% Feb 5.12% 5.52% 0.40°x6 Mar 5.28% 5.55°x6 0.27% During this quarter, the economy gained some strength which is reflected in the benchmark rates. This strength prompted the Fed to raise short-term interest rates by 25 basis points at their meeting on March 25th. This also allowed the City's portfolio to exceed our benchmark. This quarter marks the ninth consecutive quarter that the City's portfolio met and exceeded the benchmark! Month Invested Balance Cash Balance % Invested Jan $35,343,070.00 ($747,021.00) 103% Feb $33,515,335.00 ($286,815.00) 101% Mar $32,276,021.00 ($313.526.00) 101% Average $33,711,475.33 ($449,120.67) 102% The City's investment program pursues maximum interest income revenues while maintaining safety and liquidity using the following strategy: -immediately deposit all receipts, utilizing wire transfers,ACH, and couriers; -slow down disbursement of funds using ACH,wire transfers, etc.; -cashflow forecasting to meet estimated disbursements by each fund; -plan full investment of upcoming resources at their peak availability to maximize interest earnings and ; -to minimize cash at the bank; -purchase diversified investments and hold to maturity -keep abreast of current market environment to benefit from interest rate changes. Invested Cash $Zoo 120% — - $0 100% 80% ($200) C A N 60% O ($400) 40% 20% ($600) 0% Jan Feb Mar ($800) Jan Feb Mar COLLATERAL REVIEW The first and most important objective of public funds investments is safety of assets. Therefore, all non-government security investments must be secured by collateral. This is accomplished by monitoring daily bank balances and monthly reporting of their full coverage. Collateral levels may be adjusted to secure the varying levels of receipts throughout the fiscal year. City of Euless Collateral Analysis for Cash & C.D. Investments as of 3/39/97 Pledging Safekeeping Pledged Sec. Security Market Value Inv. Value Difference Institution Location Description Par Value (w/FDIC-Ins.) @ Mat'y(P&1) Over/(Under Bank One $0 $100,000 $21,365 $78,635 $Mkt $0 DDA $21,365 Landmark Bank Texas Indep $1,500,000 $1,589,575 $262,046 $1,327,529 Bank-Dallas FNMA due Payroll $4,715 • 11/16/00 $500,000 Operating $257,331 FNMA due 10/26/01 $1,000,000 Reproduced By: 1 'Cash & Debt Department Date: Reviewed by: ,Director of Finance Date: (0 This review is practiced on a regular basis assuring thorough coverage. Another regular practice is reviewing each individual instrument purchased. This assures compliance with the Investment policy and consideration of the underlying security. This separate but thorough practice has protected the City's portfolio against derivative products in an unstable rate environment. INTEREST INCOME FY95-96 Budget: $1,797,000 FY96-97 Budget: $958,041 FY95-96 Actual: $1,982,284 FY96-97 Y-T-D: $850,873 Percent of Budget: 110% FY96-97 Projected: $1,594,916 Proj. %of Budget: 166.48% The FY96-97 projected interest income amount is comprised of interest income received year-to-date, coupon payments and interest to be received on existing investments, interest that will accrue through the end of the fiscal year but not received until afterwards, less interest accrued for prior year. Interest continues to be earned and distributed to the various funds which are able to invest. Interest Income By Fund As of 3131197 Fund Fund FY 96 FY 96 'FY 97 FY 97 Cpns& Proj Less PY Proj 9 Name Budget Audit Budgt YET ist My Accrual Accrual Reinv Total Difference 1 iGeneral $340,000' $372,1601 $280,000 $198,747 $147,236 $87,265 $62,253 $20,000 $390,996 $110,996 2 Wtr/Sewer 262,758 277,606 250,000 145,523 173,985 47,959 26,513 6,000 346,954 96,9541 4 GO Debt 15,795 17,5521 15,000 16,218 0 0 0 3,000 19,218 4,218, 8 W&S CIP 13,751 23,4621 0 7,737 0 0 0 2,000 9,737 9,7371 9 Escrow 61,602 60,953' 25,000 53,484 33,909 14,276 31,183 0 70,486 45,486' 12 HoteVMotel 13,577 14,1181 5,000 5,036 0 0 0 600 5,636' 636 16 DEA Task 468 4721 0 311 0 0 0 0 311 311 ; 17 Risk M mt 25,110 28,103 15,0001 17,0221 5,503 0 1,853 6,000 26,671 11,6711 21 'E .Re 1. 12,2801 14,357' 10,000 7,6651 0 0 0 2,500 10,165 165 22!,Golf Course 350,000 365,5381 129,000 86,702 56,550 0 31,599 18,000 129,653 653; 24IDrug Fund 10,199 10,8321 0 3,843 0 0 0 2,400 6,243 6,243 26 1 Street CIP 187,240 216,6061 75,000 81,520 93,268 4,600 28,293 16,200 167,295 92,295 29 Draina a 8,620 11,2991 7,500 5,197 0 0 0 2,790 7,987 487 30 Cash M m 60,0001 57,429 51,541 51,541 0 0 0 0 51,541 0 32 Athletic Cm Ix 60,000 73,750 25,000 31,649 _ 48,396 2,852 10,620 1,398 94,915 69,915 34 Softball World 0 2,069 5,000 5,707 223 0 98 870 6,701 1,701 35 Softball CIP 11,028. 12,344 0 8,560 0 0 0 1,000. 9,560 9,56m 39 DUS CIP 0 1,553 0 6,1501 01 0 0 2,500 8,650 8,F 40 Impact Fee 34,907 34,9811 0 21,226 28,615 21,619 (6,248) 600 65,812 65,87 50 1/2 Cent 329,665 336,8801 65,000 71,127 25,713 0 91363 48,000 135,476 70,476 54 1 Crime Control 0 1,2341 0 4,749 0 0 0 5,000 9,749 9,7491 90 W&S Res 0 48,9861 01 21,160 0 01 0 0 21,160 21,160. Total1 $1,797,0001 $1,982,2841 $9513,0411 $850,8731 $613,3961 $178,571 $186,783 $138,8581 $1,594,9161 $636,875 Note that interest earnings is being earned by all investable City funds and great efforts are pursued for all funds to meet their budgeted level. "Fiscal Year 1997 Budget numbers are based on an average rate of return of 5.25°x6. This estimate was based on the average 90 day T-Bill rate during the budget process. This rate ranged from 5.17%to 5.28%. 817-685-1444 CIPJ City N. Euless Phone: -685-1459 201 N.Ector Dr. Fax:817-685-1459 Euless,TX 76039 Momran&m To: Diana Ortiz From: Vicki Smith Date: Friday, May 30, 1997 Subject: Budget Requests Per your request, I have reviewed the advantages of a complete portfolio compliance audit. Currently, an annual compliance audit is completed by our external auditors,Weaver and Tidwell. This audit is very brief. They do not go into a great deal of detail to provide an insight on risk exposure. By using a firm that specializes in these type of audits, they would concentrate their audit in the following areas: 1.Policy compliance and completeness-Does our policy adequately cover all aspects of the operations and does it correspond to the strategies written as well as actual strategies being used on the portfolio. L2.Portfolio Compliance to state law-Does the portfolio construction and performance conform to state law? This would focus on safety, diversification, suitability,liquidity,and yield. 3. Competitive bidding processes and documentation-Are policies and procedures in place to assure competitive bidding?Are these compiled with regularly? 4. Strategies-Do the cities strategies conform to policy and state law requirements? 5.Management authorizations-Are all required and desired management authorizations in place and fully documented? 6.Pool Participation-Does the City have full concise, and clear documentation on any and all pool participation from Council authorization to reporting verifications? Are pool earnings being accurately reported as part of the total portfolio? 7.Broker authorizations-Are all certifications and documentation in place to protect the City? 8.Management Controls-Does the City have management controls in place to adequately protect assets and employees? 9.Training-Has the City's investment officers complied with training requirements? 10.Portfolio systems controls-Are automated systems sufficient to assure compliance with policy and law? This would include a review of computations and reporting accuracy. 11.Management Review-Have provisions been made for adequate management review of policies and reports to fully inform management and identify risk. This Audit would be performed by certified cash managers with extensive knowledge in the areas of governmental cash management and legislative requirements. I hope this information will give you a little more insight as to the need of this request. Please let me know if you need any additional information. .b Economic Environment and Interest Rate Outlook During this quarter, the economic data revealed a growing economy, with low unemployment and no signs of inflation. Despite the lack of inflationary concerns, the Fed decided to raise short-term interest rates by 25 basis points. Many economists feel that the Fed will raise short-term rates by another 25 basis points during the next quarter. However, policymakers need to wait long enough to see the effects of the most recent rate hikes. If the economy continues to show signs of strength, the Fed will probably tighten another 25 basis points in July. Only time will tell! MINUTES INVESTMENT COMMITTEE MEETING 02/18/97 Attendance: Joe Hennig, Assistant City Manager Diana Ortiz, Director of Finance Vicki Smith, Accountant II Vicki presented the First Quarter Investment Report. The Committee reviewed the report. Diana Ortiz moved to accept the report as presented, Joe Hennig seconds Joe Hennig motioned to adjourn the meeting and Diana Ortiz seconded. Meeting was adjourned. • APPENDIX • f f City of Euless Investment Portfolio As of March 31,1997 BANC BancOne Capital FSW First Southwest ' Investment Type FCI First Commercial LOGIC Investment Pool FNMA Fed.Nell Mort.Asso. FHLB Fed.Home Loan Bank RAUSCHER Rauscher Pierce MMSBW Masterson Moreland TRILL Treasury Big FFCB Fed.Farm Credit Bank FHLMC Fed.Home Loan Mort.Corp. PRUD Prudential Securities LM Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note FGIC Fin1 Guaranty Ins Co. MERRILL Merrill Lynch Inv. Cusip Purchase Term Maturity Days Price Par Principal Interest Interest Yield To Book Market Market Seger Unamorkzed Coupon Type Number Date in da s Die Accrue P4r$100 Value Invested 0 ma Accrued Maturity Value Prig Value Inst. coup. PrkMayM Pren-Disg R"tg U.S.GOVERNMENT AGENCIES Agency Discount Notes FNMA 313589ED1 11/12/96 149 04/10197 139 97.8561 510,000.00 499,065.88 10,934.12 10,200.28 5.37% 509,266.17 99.8489 509,229.33 Pruprog FNMA 313589EE9 10/01/96 192 04/11/97 181 97.1627 700,000.00 680,138.67 19,861.33 18,723.44 5.54% 698,862.11 99.8323 698,825.75 Merrill FNMA 313589FJ7 11112196 178 05/0997 139 97.4388 510,000.00 496,937.77 13,062.23 10,200.28 5.39% 507,138.05 99.3998 506,939.15 Pruprog FNMA 313589FM0 11/1496 179 05/1297 137 97.4244 510,000.00 496,864.38 13,135.62 10,053.52 5.39% 506,917.90 99.3537 506,703.70 Pruprog FNMA 313589FX6 112096 183 052297 131 97.3821 510,000.00 496,648.62 13,351.38 9,557.54 5.36% 506,206.17 99.1998 505,918.87 Pruprog FNMA 313589GD9 112296 187 0528197 129 97.3353 1,000,000.00 973,352.50 26,647.50 18,382.50 5.34% 991,735.00 99.1074 991,074.44 Merrill FMAC 313397GF2 022097 99 05/30/97 39 98.5838 735,000.00 724,590.56 10,409.44 4,100.69 5.30% 728,691.25 99.0767 728,213.50 Pruprog FNMA 313589GUl 12/1096 184 06/1297 111 97.3576 800,000.00 778,860.44 21,139.56 12,752.67 5.38% 791,613.11 98.8807 791,045.33 Prudential FNMA 313589GU1 03/1797 87 06/1297 14 98.7313 710,000.00 700,991.88 9,008.13 1,449.58 5.39% 702,441,46 98.88067 702,052.73 Pruprog FNMA 313589GZ0 12/1996 180 06/1797 102 97.3900 1,000,000.00 973,900.00 26,100.00 14,790.00 5.43% 988,690.00 98.8040 988,040.00 Prudential FNMA 313589HH9 122396 184 0625/97 98 97.3320 1,035,000.00 1,007,386.20 27,613.80 14,707.35 5.44% 1,022,093.55 98.6798 1,021,336.39 Pruprog FNMA 313589HZ9 10/01/96 283 07/1197 181 95.7393 500,000.00 478,696.39 21,303.61 13,625.28 5.68% 492,321.67 98.4332 492,165.83 Prudential FNMA 313589,1194 012397 182 072497 67 97.3458 510,000.00 496,463.75 13,536.25 4,983.13 5.47% 501,446.87 98.2367 501,007.00 Pruprog FNMA 313589KAG 01/31197 186 0817597 59 97.2875 500,000.00 486,437.50 13,562.50 4,302.08 5.47% 490,739.58 98.0491 490,245.69 Merrill FHLB 313385KK1 03/1497 153 08/1497 17 97.7475 1,000,000.00 977,475.00 22,525.00 2,502.78 5.50% 979,977.76 97.9109 979,108.89 Merrill FHLB 3133851-G9 0310397 185 09/04197 28 97.2969 530,000.00 515,673.81 14,326.19 2,168.29 5.48% 517,842.09 97.57522 517,148.68 Pruprog FNMA 313589LQ4 03/0397 193 09/1297 28 97.1747 500,000.00 485,873.47 14,126.53 2,049.44 5.49% 487,922.92 97.45167 487,258.33 Merrill FHLB 313385MJ2 02/0397 239 09/3097 56 96.5212 685,000.00 661,170.37 23,829.63 5,583.51 5.47% 666,753.88 97.1686 665,604.80 Merrill FHLB 313385MQ6 01/10197 269 10/0697 80 96.0248 300,000.00 288,074.33 11,925.67 3,546.67 5.57% 291,621.00 97.0600 291,180.00 Merrill FNMA 313589MZ3 01/1097 278 1011597 80 95.8918 500,000.00 479,458.89 20,541.11 5,911.11 5.57% 485,370.00 96.9200 484,600.00 Prudential TOTAL: 13,045,000.00 12,698,060.41 346,939.59 169,590.14 5.47% 12,867,650.56 12,857,698.43 Agency Coupon Notes FHLB 313394HSO 092496 180 092497 6 99.9050 1,000,000.00 999,050.00 30,000.00 1,000.00 6.10% 999,568.20 100.1250 1,001,250.00 Merrill 950.00 (431.80) 6.00% FHLB 313394HP6 112296 180 09/30/97 1 100.4200 1,000,000.00 1,004,200.00 29,900.00 166.11 5.46% 1,002,520.00 100.1250 1,001,250.00 Merrill 4,200.00 2,520.00 5.98% FNMA 31364CND6 0IM397 180 10/1797 163 99.9300 1,000,000.00 999,300.00 27,750.00 25,129.17 5.63% 999,533.34 100.0000 1,000,000.00 Merrill 700.00 (466.66) 5.55% FHLB 313394525 03/1897 232 11/05197 145 100.0000 500,000.00 500,000.00 28,825.00 18,015.63 5.64% 500,000.00 99.78125 498,906.25 FSW 0.00 5.77% FFCB 31331HJM0 03/1897 259 12/0297 118 99.7969 1,000,000.00 997,968.75 54,000.00 24,602.32 5.68% 998,19444 99.75 997,500.00 1st Comm 2,031.25 (1,805.56) 5.40% FHLB 3133951`67 01/08/97 360 01/08/98 82 100.0000 500,000.00 500,000.00 28,850.00 6,571.39 5.77% 500,000.00 99.6563 498,281.25 Prudential 5.77% FNMA 31364CVE6 01/1697 180 01/1698 74 99.8658 500,000.00 499,329.02 14,000.00 5,755.56 5.74% 499,496,78 99.7500 498,750.00 Merrill 670.98 (503.22) 5.60% FMAC 3134AGTT9 1219396 180 012798 63 99.5625 505,000.00 502,790.63 13,142.63 4,599.92 5.60% 503,470.45 99.4375 502,159.38 Pruprog 2,209.37 (1,529.55) 5.21% FHLB 313393CX6 022096 180 0220/98 40 100.0000 2,000,000.00 2,000,000.00 52,500.00 11,666.67 5.25% 2,000,000.00 99.3750 1,987,500.00 Banc One O.00 5.25% FHLB 313389GE2 02)0797 428 04/1598 165 99.9338 500,000.00 499,669.10 42,750.00 16,480.72 5.75% 499,716.38 99.3750 496,875.00 FSW 330.90 (283.62) 5.70% FNMA 31364AZL9 12/0195 180 062598 95 99.1719 1,000,000.00 991,718.75 27,050.00 14,276.39 5.76% 996,140.06 99.0938 990,937.50 Rauscher 8,281.25 (3,859.94) 5.41% FHLB 313392U34 01/1996 180 01/1999 71 100.0000 1,000,000.00 1,000,000.00 28,925.00 11,409.31 5.79% 1,000,000.00 98.9375 989,375.00 Prudential 0.00 5.79% FHLB 313393DC1 022096 180 022099 40 100.0000 1,000,000.00 1,000,000.00 27,700.00 6,155.56 5.54% 1,000,000.00 98.3750 983,750.00 Prudential 0.00 5.54% TOTAL: 11,505,000 00 11,494,026.25 405,392.63 145,828.72 11,498,639.65 11,446,534.38 15,173.75 4,200.00 (6,360.35) U.S.TREASURY NOTES TNOTE 912827g30 07/3192 180 07/31197 60 99.9570 1,450,000.00 1,449,376.50 39,875.00 13,291.67 5.50% 1,450,000.00 99.9688 1,449,546.88 Shearson 623.50 0.00 5.50% CERTIFICATES OF DEPOSITS CD 042396 365 042397 337 100.0000 5,000.00 5,000.00 222.50 205.43 4.45% 5,000.00 100.0000 5,000.00 Lndrnrk 0.00 4.45% INVESTMENT POOLS �) l LOGIC N/A N/A N/A N/A N/A 100.0000 4,261,477.60 4,261,477.60 N/A N/A 6.38% 4,261,477.60 100.0000 4,261,477.60 LOGIC FGIC N/A N/A N/A N/A N/A 100.0000 2,255,842.59 2,255,842.59 N/A N/A 5.47% 2,255,842.59 100.0000 2,255,842.59 FGIC TOTAL: 6,517,320.19 6,517,320.19 6,517,320.19 6,517,320.19 n TOTAL PORTFOLIO 32,522,320.19 32,163,783.35 792,429.71 328,915.96 32,338,610.40 32,276,099.87 15,797.25 4,200.00 (6,360.35) 1 . City of Euless Investment Portfolio As of December 31,1996 BANC BancOne Capital Investment Type FSW First Sou west FCI First Commercial LOGIC InveslmeM Pool FNMA Fed.NaYI Mort.Assc. FHLB Fed.Home Loan Bank RAUSCHER Rauscher Pierce MMS&W Masterson Moreland TBILL Treasury Bill FFCB Fed.Farm Credit Bank FHLMC Fed.Home Loan Mort.Corp. PRUD Prudential Securities LM Landmark Banc REPO Repurchase Agreement TNOTE Treasury Note FGIC Fin']Guaranty Ins Co. MERRILL Merrill Lynch Inv. Cusip Purchase Tenn Maturity Days Price Par Principal Interest Interest Yield To Book Market Market Seller Unamorized Coupon Tvce Numbe Date In fto Date Accrued Per 1 Value Inve d Acc -r�i3rY -�a9 MaJ>Lf_I1Y Value PpGe Value Inst, C-QwnT Premium 1em/Disc Rete U.S.GOVERNMENT AGENCIES Agency Discount Notes FHLB 313385AW6 0920/96 123 0121/97 102 98.1618 505,000.00 495,717.26 9,282.74 7,697.88 5.57% 503,415.14 99.6821 503,394.52 Pruprog FMAC 313397BG5 12/19/96 43 01/3157 12 99.3622 500,000.00 496,810.83 3,189.17 890.00 5.46% 497,700.83 99.5307 497,653.42 Prudential FNMA 313589bl6 10/0156 126 02/0457 91 98.1450 300,000.00 294,435.00 5,565.00 4,019.17 5.49% 298,454.17 99.4769 298,430.83 Prudential FMAC 313397EWO 12/3156 45 02/1457 0 99.3313 800,000.00 794,650.00 5,350.00 0.00 5.48% 794,65000 99.3275 794,620.00 1st Comm FMAC 313397CG4 112256 94 022457 39 98.6448 1,000,000.00 986,448.33 13,551.67 5,622.50 5.35% 992,070.83 99.1781 991,780.56 Merrill FNMA 313589CL5 09/2756 154 022857 95 97.7499 500,000.00 488,749.44 11,250.56 6,940.28 5.47% 495,689.72 99.1183 495,591.39 Prudential FHLB 313385CP9 10/0956 145 03/0357 83 97.8935 515,000.00 504,151.38 10,848.62 6,209.90 5.42% 510,361.28 99.0752 510,237.11 Pruprog FNMA 313589DD2 102256 146 03/1757 70 97.8871 1,040,000.00 1,018,025.38 21,974.62 10,535.78 5.40% 1,028,561.16 98.8663 1,028,209,86 Pruprog FNMA 313589DEO 092056 179 03/1897 102 97.3051 1,000,000.00 973,050.56 26,949.44 15,356.67 5.65% 988,407.22 98.8514 988,514.17 FSW FNMA 313589DH3 12/1956 92 032157 12 98.6507 1,000,000.00 986,506.67 13,493.33 1,760.00 5.43% 988,266.67 98.8067 988,066.67 Merrill FHLB 313385DN3 11/1456 132 032657 47 98.0970 510,000.00 500,294.70 9,705.30 3,455.68 5.36% 503,750.38 98.7321 503,533.62 Pruprog FNMA 313589EDI 11/1296 149 D4/1097 49 97.8561 510,000.00 499,065.88 10,934.12 3,595.78 5.37% 502,661.67 98,5250 502,477.50 Pruprog FNMA 313589EE9 10/0156 192 04/1197 91 97.1627 700,000.00 680,138.67 19,861.33 9,413.44 5.54% 689,552.11 98.5103 689,571.75 Merrill FNMA 313589FJ7 11/12/96 178 05/0997 49 97.4388 510,000.00 496,937.77 13,062.23 3,595.78 5.39% 500,533.55 98.1188 500,405.63 Pruprog FNMA 313589FMO 11/1496 179 05/1297 47 97.4244 510,000.00 496,864.38 13,135.62 3,449.02 5.39% 500,313.40 98.0750 500,182.50 Pruprog FNMA 313589FX6 112096 183 052297 41 97.3821 510,000.00 496,648.62 13,351.38 2,991.29 5.36% 499,639.92 97.9292 499,438.75 Pruprog FNMA 313589GD9 112296 187 0528/97 39 97.3353 1,000,000.00 973,352.50 26,647.50 5,557.50 5.34% 978,910.00 97.8417 978,416.67 Merrill FNMA 313589GU1 12/1096 184 06/1257 21 97.3576 800,000.00 778,860.44 21,139.56 2,412.67 5.38% 781,273.11 97.6320 781,055.78 Prudential FNMA 313589GZO 1211996 180 06/1757 12 97.3900 1,000,000.00 973,900.00 26,100.00 1,740.00 5.43% 975,640.00 97.5593 975,593.33 Prudential FNMA 313589HH9 122396 184 062557 8 97.3320 1,035,000.00 1,007,386.20 27,613.80 1,200.60 5.44% 1,008,586.80 97.4431 1,008,536.20 Pruprog FNMA 313589HZ9 10110156 283 07/1157 91 95.7393 500,000.00 478,696.39 21,303.61 6,850.28 5.68% 485,546.67 97.2107 486,053.33 Prudential TOTAL: 14,745,000.00 14,420,690.41 324,309.59 103,294.21 14,523,984.62 14,521,763.59 Agency Coupon Notes FHLB 313392UEO 01/1096 360 01/1097 350 100.0000 50Q000.00 500,000.00 27,150.00 26,395.83 5.22% 500,000.00 99.9688 499,843.75 Banc One 0.00 5.43% FFCB 31331HBU0 1220/95 180 02103/97 147 98.8810 335,000.00 331,251.35 7,621.25 6,224.02 5.590A 334,732.24 99.4919 34297.83 Pruprog 3,748.65 (267.76) 4.55% FFCB 31331HBUO 122095 180 02/0397 147 98.8810 665,000.00 657,558.65 15,128.75 12,355.15 5.59% 664,468.48 99.4919 661,621.06 Pruprog 7,441.35 (531.52) 4.55% FHLMC 313400a78 112855 180 02/1057 140 99.0075 725,000.00 717,804.52 17,327.50 13,476.94 5.64% 724,486.04 99.3873 720,557.76 Pnprog 7,195.48 (513.96) 4.78% FHLB 313393MCI 032056 360 03/1497 286 99.7031 1,000,000.00 997,031.25 52,750.00 41,906.94 5.59% 999,505.22 99.8750 998,750.00 FSW 2,968.75 (494.78) 5.28% FHLB 313394HSO 092496 180 092497 96 99.9050 1,000,000.00 999,050.00 30,000.00 16,000.00 6.10% 999,309.12 100.3125 1,003,125.00 Merrill 950.00 (690.88) 6.00% FHLB 313394HP6 112296 180 09/3097 90 100.4200 1,000,000.00 1,004,200.00 29,900.00 14,950.00 5.46% 1,003,360.00 100.4688 1,004,687.50 Merril 4,200.00 3,360.00 5.98% FHLB 313394M47 10/1096 360 10/1097 80 100.0000 1,000,000.00 1,000,000.00 61,000.00 13,555.56 6.10% 1,000,000.00 100.0313 1,000,312.50 Prudential 0.00 6.10% FMAC 3134AOTT9 12/03/96 180 012758 153 99.5625 505,000.00 502,790.63 13,142.63 11,171.23 5.60% 502,960.59 99.4688 502,317.19 Pruprog 2,209.37 (2,039.41) 5.21% FHLB 313393CX6 022056 180 022098 130 100.0000 2,000,000.00 2,000,000.00 52,500.00 37,916.67 5.25% 2,000,000.00 99.4375 1,988,750.00 Banc One 0.00 5.25% FNMA 31364AZL9 1210155 180 062598 30 99.1719 1,000,000.00 991,718.75 27,050.00 4,508.33 5.76% 995,205.13 99.3438 993,437.50 Rauscher 8,281.25 (4,794.87) 5.41% FHLB 3133921.134 01/1956 180 01/1959 161 100.0000 1,000,000.00 1,000,000.00 28,925.00 25,871.81 5.79% 1,000,000.00 99.3125 993,125.00 Prudental 0.00 5.79% FHLB 313393DCI 0220/96 180 0220/99 130 100.0000 1,000,000.00 1,000,000.00 27,700.00 20,005.56 5.54% 1,000,000.00 98.8750 988,750.00 Prudential 0.00 5.54% TOTAL: 11,730,000.00 11,701,405.15 390,195.13 244,338.04 11,724,026.82 11688,575.09 32,794.85 4,200.00 (5,973.18) U.S.TREASURY NOTES TNOTE 912827930 07!3192 180 07/3157 150 99.9570 1,450,000.00 1,449,376.50 39,875.00 33,229.17 5.50% 1,450,000.00 100.0625 1,450,906.25 Shearson 623.50 0.00 5.50% CERTIFICATES OF DEPOSITS CD 0423196 365 042397 252 100.0000 5,000.00 5,000.00 222.50 153.62 4.45% 5,000.00 100.0000 5,000.00 Lndmrk 0.00 4.45% INVESTMENT POOLS LOGIC N/A WA WA N/A N/A 100.0000 3,810,447.40 3,810,447.40 N/A N/A 6.15% 3,810,447.40 100.0000 3,810,447.40 LOGIC FGIC N/A WA WA N/A N/A 100.0000 2,078,169.04 2,078,169.04 N/A N/A 4.64% 2,078,169.04 100.0000 2,078,169.04 FGIC TOTAL: 5,888,616.44 5,888,616.44 5,888,616.44 5,888,616.44 TOTAL PORTFOLIO 33,818,616.44 33,465,088.50 754,602.21 381,015.03 33,591,627.88 33,554,861.37 33,418.35 4,200.00 (5,973.18) City of Euless Imestmert by Fird As of March 31,1997 Investment Type Wsetution LOGIC Wmstment Pool FNMA Fed,Nall Mort.Asso. FHLB Fed.Home Loan Bane RAUSCHER Rauscher Pierce BANC BancOne Capital MMS&W Masterson Moreland TBILL Treasury BII FFCB Fed.Farm Credit Bark FHLMC Fed.Home Loan Mort.Corp. PRUD Pnderdal Sec sties FSW First Southwest LM Landmark Bank REPO Reperchase Agreemen TNOTE Treasury Note FGIC Fin1 Guarany Ins Co. FCI First Commercial MERRILL Merrill Lynch Cost Accrued Im. Cusp Purchase Term Maturity Price Par Book Value Interest Total Prin.+ Yidd To Coupon Inerest Seiler Market %of Twe Nunber �aC@ ILn4QY;<l Datg P .le>44 WWI: (R10-4(1ye1a[Y ICS_MMBi'Y MO_Mity Bei PLTg1§std_ I.r1gt D5i g!!S ftnum FsN YiM Fund 1 LOGIC N/A 100.0000 39,188.71 39,188.71 39,188.71 6.38% LOGIC 1 39,188.71 0.12% 0.00 FNMA 313589GD9 1122/96 187 0528/97 97.3353 500,000.00 486,676.25 13,323.75 500,000.00 5.34% Memll 1 495,537.22 1.51% 2.82 FNMA 313589GZ0 12/19196 180 06/17/97 97.3900 1,000,000.00 973,900.00 26,100.00 1,000,000.00 5.43% Pruderaal 1 988,040.00 3.02% 5.43 FHLB 313385KK1 03/14/97 153 08/14/97 97.7475 500,000.00 488,737.50 11,262.50 500,000.00 5.50% Me II 1 489,554.44 1.51% 2.32 FHLB 313394hs0 0924/96 360 0924/97 99.9050 500,000.00 499,525.00 30,000.00 530,000.00 6.10% 6.00% Memll 1 500,625.00 1.55% 5.57 FHLB 313385MO6 01/10/97 269 10/06/97 96.0248 300,000.00 288,074.33 11,925.67 300,000.00 5.57% Memll 1 291,180.00 0.89% 2.40 FNMA 313589MZ3 0171097 278 10/15/97 95.8918 500,000.00 479,458.89 20,541.11 500,000.00 5.57% Pruderti at 1 484,600,00 1.49% 4.13 FNMA 31364CND6 0110397 287 10/17/97 99.9300 1,000,000.00 999,300.00 55,500.00 1,055,500.00 5.63% 5.55% 11,716.67 Memll 700.00 1 1,000,000.00 3.13% 8.99 FFCB 31331 HJMO 03/1897 259 12/0297 99.7969 1,000,000.00 997,968.75 54,000.00 1,054,000.00 5.68% 5.40% 15,900.00 1st Comm 2.031.25 1 997,500.00 3.14% 8.14 FHLB 313393CX6 02/2096 720 022098 100.0000 1,000,000.00 1,000,000.00 105,000.00 1,105,000.00 5.25% 5.25% Banc One 1 993,750.00 3.10% 22.31 FHLB 313393DCI 022096 1080 022099 100.0000 0.00 0.00 0.00 0.00 5.54% 5.54% Prudential 1 0.00 0.05% 0.52 Subtotal 6,339,188.71 6,252,829.42 327,653.03 6,583,688.71 5.64% 27,616.67 2,731.25 0.00 subtotal 6,279,975.37 19.51% 62.62 Fund 2 LOGIC WA 100.0000 33,066.58 33,066.58 33,066.58 6.38% LOGIC 2 33,066.58 0.10% 0.00 FNMA 313589GO9 112296 187 052897 97.3353 500,000.00 486,676.25 13,323.75 500,000.00 5.34% Memll 2 495,537.22 1.51% 2.82 FNMA 313589GU1 12/1096 184 06/12/97 97.3576 800,000.00 778,860.44 21,139.56 800,000.00 5.38% Prudertial 2 791,045.33 2.41% 4.44 FNMA 313589KA0 01/31/97 186 08/0597 97.2875 500,000.00 486,437.50 13,562.50 500,000.00 5.47% Memll 2 490.245.69 1.51% 2.80 FHLB 313385KK1 03/14/97 153 08/1497 97.7475 500,000.00 488,737.50 11,262.50 500,000.00 5.50% Memll 2 489,554.44 1.51% 2.32 FNMA 313589LO4 03/03/97 193 09/12197 97.1747 500,000.00 485,873.47 14,126.53 500,000.00 5.49% Memll 2 487,258.33 1.51% 2.91 FHLB 313394hs0 0924196 360 0924)97 99.9050 500,000.00 499,525.00 30,000.00 530,000.00 6.10% 6.00% Merrill 2 500,625.00 1.55% 5.57 FHLB 313394HP6 112296 312 09/3097 100.4200 1,000.000.00 1,004,200.00 59,800.00 1,059,800.00 5.46% 5.98% 8,637.78 Memll 4,20000 2 1,001,250.00 3.14% 9.79 FHLB 313394525 03/18/97 232 119597 100.0000 500,000.00 500,000.00 28,825.00 528,825.00 5.64% 5.77% 10,649.24 FSW 2 498,906.25 1.58% 3.67 FHLB 313395F67 01108/97 360 01/0898 100.0000 500,000.00 500,000.00 28,850.00 528,850.00 5.77% 5.77% Prtdertial 2 498,281.25 1.55% 5.58 FNMA 31364CVE6 01/16/97 360 01/1698 99.8658 500,000.00 499,329.02 28,000.00 528,000.00 5.74% 5.60% Merrill 670.98 2 498,750.00 1.55% 5.57 FHLB 313393CX6 022096 720 0220/98 100.0000 1,000,000.00 1,000,000.00 105,000.00 1,105,000.00 5.25% 5.25% Banc One 2 993,750.00 1109h 22.31 Subtotal 6,833,066.58 6,762,705.77 353,889.83 7,113,541.58 5.63% 19,287.02 670.98 4,200.00 subtotal 6,778,270.11 21.01% 67.77 Fund 4 LOGIC N/A 100.0000 231,789.22 231,789.22 231,789.22 6.38% LOGIC 4 231,789.22 0.72% 0.00 Subtotal 231,789.22 231,789.22 0.00 231,789.22 6.38% 0.00 0.00 0.00 subtotal 231,789.22 0.72% 0.00 Fund 6 TNOTE 841 07/31/92 1800 07/31/97 99.9570 500,000.00 499,785.00 137,500.00 637,500.00 5.50% 5.50% Shearson 6 499,843.75 1.55% 27.88 Fund 8 LOGIC NIA 100.0000 84,779.15 84,779.15 84,779.15 6.38% LOGIC a 84,779.15 0.26% 0.00 FGIC N/A 100.0000 4,963.81 4,963.81 4,963.81 5.47% FGIC 8 4,963.81 0.02% 0 00 Subtotal 89,742.97 89,742.97 0.00 89,742.97 5.93% 0.00 0.00 0.00 subtotal 89,742.97 0.28% 0.00 Fund 9 LOGIC N/A 100.0000 8,250.06 8,250.06 8,250.06 6.38% LOGIC 9 8,250.06 0.03% 000 FGIC N/A 100.0000 103,395.57 103,395.57 103,395.57 5.47% FGIC 9 103,395.57 0.32% 0 00 TNOTE 912827g30 07/3192 1800 07/3197 99.9570 250,000.00 249,892.50 68,750.00 318,750.00 5.50% 5.50% Shears- 9 249,921.88 0.77% 1394 FNMA 31364AZL9 12/0195 924 0625/98 99.1719 1,000,000.00 991,718.75 162,300.00 1,162,300.00 5.76% 5.41% 23,443.33 Rauscher 8,281.25 9 990,937.50 3.17% 29.30 Sbtotal 1,361,645.63 1,353,256.88 231,050.00 1,592,695.63 5.78% 23,443.33 8,281.25 0.00 subtotal 1,352,505.00 4.29% 43.24 P Fund 12 LOGIC N/A 100.0000 137,223.48 137,223.48 137,223.48 6.38% LOGIC 12 137,223.48 0.43% 0.00 Fund 16 LOGIC N/A 100.0000 54,728.37 54,726.37 54,728.37 6.38% LOGIC 16 54,728.37 0.17% 0.00 Fund 17 / LOGIC N/A 100.0000 438,722.34 438,722.34 438,722.34 6.38% LOGIC 17 438.722.34 1.36% 0.00 TNOTE 841 07/31/92 1800 07/3197 99.9570 200,000.00 199,914.00 5500000 255,000.00 5.50% 5.50% Shearson 17 199,937.50 0.62% 11.15 Subtotal 638,722.34 638,636.34 55,000.00 693,722.34 5.94% 0.00 0.00 0 00 subtotal 638,659.84 1.98% 11.15 F� Fund 18 FHLB 313393DC1 0220/96 1080 0220/99 100.0000 500,000.00 500,000.00 83,100.00 583,100.00 5.54% 5.54% Prudential 18 491,875.00 155% 16.73 Fund 19 FHLB 313393DC1 022096 1080 022099 100.0000 500,00000 500.000.00 83,100.00 583,100.00 5.54% 554% Prudential 19 491,875.00 1.55% 18.73 Fund 21 / LOGIC N/A 100.0000 279,481.27 279,481.27 279,481.27 6.38% LOGIC 21 279,481.27 0.87% 0.00 74�1. FGIC WA 100.0000 151,862.98 151,862.98 151,862.98 5.47% FGIC 21 151,862.98 0.47% 0.00 Subtotal 431,344.25 431,344.25 0.00 431,344.25 5.93% 0.00 0.00 0.00 Subtotal 431,344.25 1.34% 0.00 G- V City of Euless Investment by Fuld As of March 31,1997 investment Type Institution LOGIC Investnheri Pod FNMA Fed.Nall Mat.Asso. FHLB Fed.Home Loan Baric RAUSCHER Rauscher Pierce BANC BancOne Capital MMSBW Masterson Moreland TBILL Treasury Bib FFCB Fed.Farm Crest Bank FHLMC Fed,Hone Loan Mort.Corp. PRUD Pndertlai Securities FSW First So lhwest LM Landmark Baric REPO Repurchase Agreement TNOTE Treasury Note FGIC Finl Guaranty Ins Co. FCI First Commercial MERRILL Merrill Lynch Cost Accrued M. Cusip Purchase Term Maturity Price Par Book Vak/e Interest Total Prin.- Yield To Coupon Interest Seder Market %of Twit P314 (in days DJt4 Per 144 value (Nn.Only 9D me Int.pMetY maw E@Le Purchase kl$L Discount Premiu0 F" V11192 Potat g WAM Fund 22 LOGIC WA 100.0000 635,421.40 635,421.40 635,421.40 6.38% LOGIC 22 635,421.40 1.97% 0.00 FNMA 313589ED1 11/12196 149 04/10/97 97.8561 510,000.00 499,065.88 10,934.12 510,000.00 5.37% Prwog 22 509,229.33 1.55% 2.30 FNMA 313589FJ7 11/1296 178 05/0997 97.4388 510,000.00 496,937.77 13,062.23 510,000.00 5.39% Pr grog 22 506,939.15 1.54% 2.74 FNMA 313589FM0 11/14/96 179 05/12/97 97.4244 510,000.00 496,864.38 13,135.62 510,000.00 5.39% Pnprog 22 506,703.70 1.54% 2.76 FMAC 313397GF2 0220/97 99 05/30/97 98.5838 735,000.00 724,590.56 10,409.44 735,000.00 5.30% Pnprog 22 728.213.50 2.24% 2.22 FNMA 313589GUl 03/17/97 87 06/1297 98.7313 710,000.00 700,991.88 9,008.13 710,000.00 5.39% Pn4xog 22 702,052.73 2.17% 1.89 Sbtotal 3,610,421.40 3,553,871.87 56,549.53 3,610,421.40 5.54% 0.00 0.00 0.00 3.588,559.82 11.01% 11.91 Fund 23 LOGIC WA 100.0000 0.00 0.00 0.00 6.38% LOGIC 23 0.00 0.00% 0.00 Fund 24 LOGIC WA 100.0000 108,346.17 108,346.17 108,346.17 6.38% LOGIC 24 108,346.17 0.34% 0.00 FGIC N/A 100.0000 62,037.34 62,037.34 62,037.34 5.47% FGIC 24 62,037.34 0.190A 0.00 Subtotal 170,383.51 170,383.51 0.00 170,383.51 5.93% 0.00 0.00 0.00 subtotal 170,383.51 0.53% 0.00 Fund 26 LOGIC WA 100.0000 543,445.56 543,445.56 0.00 543,445.56 6.38% LOGIC 26 543,445.56 1.68% 0.00 FNMA 313589/9/99 1223196 184 062597 97.3320 1,035.000.00 1,007,386.20 27,613.80 1,035,000.00 5.44% Pruprog 26 1,021,336.39 3.12% 5.74 FNMA 313589JN4 012397 182 07!14)97 97.3458 510,000.00 496,463.75 13,536.25 510,000.00 5.47% Pnprog 26 501,007.00 1.54% 2.80 FHLB 313385LG9 03103/97 185 09/0497 97.2969 530,000.00 515,673.81 14,326.19 530,000.00 5.48% Pr grog 26 517,148.68 1.60% 2.96 FHLB 313385MJ2 02/0397 239 09/30/97 96.5212 685,000.00 661,170.37 23,829.63 685,000.00 5.47% Pn.prog 26 665.604.80 2.05% 4.90 FMAC 3134AOTT9 12/0396 420 012798 99.5625 505,000.00 502,790.63 39,427.88 544,427.88 5.60% 5.21% 9,199.84 Pnprog 2,209.37 26 502,159.38 1.59% 6.66 Subtotal 3,808,445.56 3,726,930.31 118,733.75 3,847,873.44 5.64% 9,199.84 2,209.37 0.00 subtotal 3,750,701.80 11.58% 23.06 Fund 29 LOGIC N/A 100.0000 216,594.25 216,594.25 216,594.25 6.38% LOGIC 29 216,594.25 0.67% 0.00 Fund 32 LOGIC WA 100.0000 144,192.40 144,192.40 144,192.40 6.38% LOGIC 32 144,192.40 0.45% 0.00 FNMA 313569EE9 1010196 192 04/11/97 97.1627 700,000.00 680,138.67 19,861.33 700,000.00 5.54% Merrill 32 698,825.75 2.11% 4.05 FNMA 313589HZ9 1010196 283 07/11/97 95.7393 500,000.00 478,696.39 21,303.61 500,000.00 5.68% Prudential 32 492,165.63 1.48% 4.20 FHLB 313392U34 01/19/96 1080 01/1999 100.0000 250,000.00 250,000.00 43,387.50 293,387.50 5.79% 5.79".5 Prudential 32 247,343.75 0.77% 8.37 Subtotal 1,594,192.40 1,553,027.45 84,552.44 1,637,579.90 5.85% 0.00 0.00 0.00 subtotal 1,582.527.73 4.81% 16.61 Fund 34 LOGIC N/A 100.0000 36,320.29 36,320.29 0.00 36,320.29 6.38% LOGIC 34 36,320.29 0.11% 0.00 FGIC WA 100.0000 41,358.23 41,358.23 0.00 41,358.23 5.47% FGIC 34 41,358.23 0.13% 0.00 CD 042396 365 042397 100.0000 5,000.00 5,000.00 222.50 5,222.50 4.45% 4.45% Lndrtrk 34 5,000.00 0.02% 0.06 Subtotal 82.678.52 82,678.52 222.50 82,901.02 5.43% 0.00 0.00 0.00 subtotal 82,678.52 0.26% 0.06 Fund 35 LOGIC N/A 100.0000 326,057.35 326,057.35 0.00 326,057.35 6.38% LOGIC 35 326,057.35 1.01% 0.00 Fund 39 LOGIC N/A 100.0000 307,702.66 307,702.66 307,702.66 6.38% LOGIC 39 307,702.66 0.95% 0.00 Fund 40 LOGIC N/A 100.0000 25,267.71 25,267.71 25,267.71 6.38% LOGIC 40 25,267.71 0.08% 0.00 TNOTE 912827g30 07/3192 1800 07/31/97 99.9570 50,000.00 49,978.50 13,750.00 63,750.00 5.50% 5.50% Shearson 40 49,984.38 0.15% 2.75 FHLB 313389GE2 02/07/97 428 04/1598 99.9338 500,000.00 499,669.10 42,750.00 542,750.00 5.75% 5.70% FSW 40 496,875.00 1.58% 6.74 FHLB 01/1996 1080 01/19/99 100.0000 750,000.00 750,000.00 130,162.50 880,162.50 5.79% 5.79% Prudertial 40 742,031.25 2.32% 25.10 Subtotal 1,325,267.71 1,324,915.31 186,662.50 1,511,930.21 5.85% 0.00 0.00 0.00 subtotal 1,314,158.33 4.13% 34.59 Fund 50 LOGIC WA 100.0000 218,917.35 218,917.35 218,917.35 6.38% LOGIC 50 218,917.35 0.68% 0.00 FGIC WA 100.0000 1,892,224.67 1,892,224.67 1,892,224.67 5.47% FGIC 50 1,892,224.67 5.86% 0.00 FNMA 313589FX6 112096 183 0512297 97.3821 510,000.00 496,648.62 13,351.38 510,000.00 5.36% Prprog 50 505,918.87 1.54% 2.82 TNOTE 912827g30 07/31/92 1800 07/31/97 99.9570 450,000.00 449,806.50 123,750.00 573,750.00 5.50% 5.50% Shearson 50 449,859.38 1.39% 25.10 Subtotal 3,071,142.02 3,057,597.14 137,101.38 3,194,892.02 5.68% 0.00 0.00 0.00 subtotal 3,066,920.26 9.47% 27.91 Fund 54 LOGIC N/A 100.0000 391,983.27 391,983.27 391,983.27 6.38% LOGIC 54 391,983.27 1.21% 0.00 TOTAL 32,170,457.21 32,011,920.17 1,855,114.96 33,878,632.59 79,546.96 13,892.85 4,200.00 TOTAL 32,276,099.87 100.00% 360.28 f ( r City of EUess - Investment by Fu)d As of December 31,1996 Investment Type Ire86ban , LOGIC Investment Pod FNMA Fed.Nall Mort.Asso. FHLB Fed.Home Loan Barye RAUSCHER Reisdler Pierce BANC BancOne Capital MMS&W Masterson Moreland TBILL Treasury Bill FFCB Fed.Ferro Credt Banl( FHLMC Fed.Home Loan Mort.Corp. PRUD Pnxlerbal Sewifies FSW First SoWlwest LM Landmark Bank REPO Repurchase Ageemert TNOTE Treasuy Note FGIC Finl Guararty Ins Co. FCI First Commercial MERRILL Memll Lynch Cost Accrued trw. Cutip Rrchese Term MahAty Pn ce Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Market %of Tyo NLmbl Date Ln days) t2@t4 E4€11.44 VQ1s3F (Pn�r.OrW @roily Irt.@Maty Meknty Rig Righ ss9 Irgt. Di scM Prerqum E" VOLN 2ffif414 WA'AM Fund 1 LOGIC N/A 100.0000 85,250.59 85,250.59 85,250.59 6.15% LOGIC 1 85,250.59 0.25% 0.00 FHLB 313392UE0 01/10196 360 01!1097 100.0000 500,000.00 500,000.00 27,150.00 527,150.00 5.220% 5.43% Banc Ore 1 499,843.75 1.49% 5.36 FMAC 313397CG4 112296 94 022497 98.6448 500,000.00 493,224.17 6,775.63 500,000.00 5.35% Memll 1 495,890.28 1.47% 1.38 FHLB 313393MC1 032096 359 03/1497 99.7031 500,000.00 498,515.63 26,375.00 526,375.00 5.59% 5.28% FSW 1 499,375.00 1.54% 5.54 FNMA 313589DE0 092096 179 03/18197 97.3051 1,000,000.00 973,050.56 26,949.44 1,000,000.00 5.65% FSW 1 988,514.17 2.90% 5.18 FNMA 313589GD9 112296 187 0526197 97.3353 500,000.00 486,676.25 13,323.75 500,000.00 5.34% Merril 1 489,208.33 1.45% 2.71 FNMA 313589GZ0 12/1996 180 06/1797 97.3900 1,000,000.00 973,900.00 26,100.00 1,000.000.00 5.43% PrWerb al 1 975,593.33 2.90% 5.22 FHLB 313394hs0 0942496 360 092497 99.9050 500,000.00 499,525.00 30,000.00 530,000.00 6.10% 6.00% Merrill 1 501,562,50 1.49% 5.35 FHLB 313394M47 10/1096 360 10/1097 100.0000 500,000.00 500,000.00 30,500.00 530,500.00 6.10% 6.10% Praderti al 1 500,156.25 1.49% 5.36 FHLB 313393CX6 022096 720 022098 100.0000 1,000,000.00 1,000,000.00 105,000.00 1,105.000.00 5.25% 5.25% Banc One 1 994,375.00 2.98% 21.43 FHLB 313393DC1 022096 1080 022099 100.0000 0.00 0.00 0.00 0.00 5.54% 5.54% Pnulerk al 1 0.00 0.05% 0.50 Sbtdel 6,085,250.59 6,010,142.19 292,174.03 6,304,275.59 5.61% 0.00 0.00 0.00 nbtotal 6,029,769.20 17.99% 58.03 Fund 2 LOGIC NIA 100.0000 31,416.16 31,416.16 31,416.16 6.15% LOGIC 2 31,416.16 0.09% 0.00 FMAC 313397BG5 12/1996 43 01/3197 99.3622 500,000.00 496,810.83 3,189.17 500,000.00 5.46% Prudential 2 497,653.42 1.48% 0.64 FMAC 313397CG4 112296 94 022497 98.6448 500,000.00 493,224.17 6,775.83 500,000.00 5.35% Memll 2 495.890.28 1.47% 1.38 FNMA 31358945 092796 154 022897 97.7499 500,000.00 488,749.44 11,250.56 500,000.00 5.47% Pniderti&1 2 495,591.39 1.45% 2.24 FHLB 313393MC1 032096 359 03/1497 99.7031 500,000.00 498,515.63 26,375.00 526,375.00 5.590% 5.28% FSW 2 499.375.00 1.54% 5.54 FNMA 313589DH3 1211996 92 032197 98.6507 500,000.00 493,253.33 6,746.67 500,000.00 5.43% Memll 2 494,033.33 1.47% 1.35 FNMA 313589GD9 112296 187 052897 97.3353 500.000.00 486,676.25 13,323.75 500,000.00 5.34% Merrill 2 489,208.33 1.45% 2.71 FNMA 313589GUl 1211096 184 06/12.97 97.3576 800,000.00 778,860.44 21,139.56 800,000.00 5.38% Pruderti al 2 781,055.78 2.32% 4.27 FHLB 313394hs0 09/2496 360 092497 99.9050 500,000.00 499,525.00 30,000.00 530,000.00 6.100% 6.00% Mems 2 501,562.50 1.49% 5.35 FHLB 313394HP6 112296 312 09/5097 100.4200 1,000,000.00 1,004,200.00 59,800.00 1,059,800.00 5.46% 5.98% 8.637.78 Memu 4,200.00 2 1,004.687.50 3.01% 9.41 FHLB 313394M47 1071096 360 10/1097 100.0100 500,000.00 500,000.00 30,500.00 530,500.00 6.10% 6.10% Prudential 2 500,156.25 1.49% 5.36 FHLB 313393CX6 022096 720 022098 100.0000 1,000,000.00 1,000,000.00 105,000.00 1,105,000.00 5.25% 5 25% Banc One 2 994,375.00 2.98% 21.43 Sbtdal 6,831,416.16 6,771,231.26 314,100.53 7,083,091.16 5.59% 8,637.78 0.00 4,200.00 seblotd 6,785,004.94 20.24% 59.67 Fund 4 LOGIC N/A 100.0000 29.699.38 29,699.38 29,699.38 6.15% LOGIC 4 29,699.38 0.09% 0.00 FMAC 313397EW0 12/3196 45 02/1497 99.3313 800,000.00 794,650.00 5,350.00 800,000.00 5.48% 1st Comm 4 794,620.00 2.37% 1.06 FNMA 313589DH3 12/1996 92 032197 98.6507 500,000.00 493,253.33 6,746.67 500,000.00 5.43% Memll 4 494,033.33 1.47% 1.35 Sbtotal 1,329,699.38 1,317,602.72 12,096.67 1,329,699.38 5.68% 000 0.00 0.00 Sbtotal 1,318,352.72 3.92% 2.41 Fund 6 TNOTE 841 07/3192 1800 07/5197 99.9570 500,000.00 499,785.00 137,500.00 637,500.00 5.50% 5.50% Shearson 6 500,312.50 1.49% 26.79 Fund 8 LOGIC N/A 100.0000 83,853.26 83,853.26 83,853.26 6.15% LOGIC 8 83,853.26 0.25% 0.00 FGIC N/A 100.0000 4,902.92 4,902.92 4,902.92 4.64% FGIC 8 4,902.92 0.01% 0.00 Sbtotal 88,756.19 88,756.19 0.00 68,756.19 5.39% 0.00 000 0.00 subtotal 88,756.19 0.26% 0.00 Fund 9 LOGIC N/A 100.0000 108,159.96 108,159.96 108,159.96 6.15% LOGIC 9 108,159.96 0.32'% 0.00 FGIC N/A 100.0000 102,127.16 102,127.16 102,127.16 4.64% FGIC 9 102,127.16 0,30% 0.01 TNOTE 912827930 07/.1192 1800 07/3197 99.9570 250.000.00 249,892.50 68,750.00 318,750.00 5.500% 5.50% Shearson 9 250,156.25 0.74% 13.39 FNMA 31364AZL9 12/0195 924 062598 99.1719 1,000,000.00 991,718.75 162,300.00 1,162,300.00 5.76% 5.41% 23,443.33 Rauscher 8,281.25 9 993,437.50 3.05% 28.15 Subtotal 1,460,287 12 1.451,898.37 231,050.00 1,691,337.12 5.51% 23,443.33 8,281.25 0.00 sbtotal 1,453,880.87 4.42% 41.54 Fund 12 LOGIC N/A 100.0000 135,724.84 135,724.84 135,724.84 6.15% LOGIC 12 135,724.84 0.40% 0.00 Fund 16 LOGIC N/A 100.0000 4,494.90 4,494.90 4,494.90 6.15% LOGIC 16 4,494.90 0.01% 0.00 Fund 17 LOGIC N/A 100.0000 184,372.55 184,372.55 184,372.55 6.15% LOGIC 17 184,372.55 0.55% 0.00 TNOTE 841 07/3192 1800 07/3197 99.9570 200,000.00 199,914.00 55,00000 255,000.00 5.50% 5.50% Shearson 17 200,125.00 0.60% 10.71 Subtotal 384,372.55 384,286.55 55,000.00 439,372.55 5.83% 0.00 0 00 0.00 subtotal 384,497.55 1.14% 10.71 Fund 18 FHLB 313393DC1 022096 1080 022099 100.0000 500,000.00 500,000.00 83,100.00 583,100.00 5.54% 5.54% Prudential 18 494,375.00 1.49% 16.07 Fund 19 FHLB 313393DC1 022096 1080 022099 100.0000 500,000.00 500,000.00 83,100.00 583,100.00 5.54% 5.54% Prudential 19 494,375.00 1.49% 16.07 Fund 21 LOGIC N/A 100.0000 177,157.47 177,157.47 177,157.47 6.15% LOGIC 21 177,157.47 0.53% 0.00 City of Elless Investment by Ftrd As of December 31,1996 investment Type InshbAw LOGIC Investment Pod FNMA Fed.Natl Mart.Asso. FHLB Fed.Home Loan Bark RAUSCHER Rauscher Recce BANC BancOne Capital MMS&W Masterson Moreland TBILL Treasry&11 FFCB Fed.Farm Credit Banc FHLMC Fed.Home Loan Mort.Cap. PRUD Prudential Seoxties FSW First SoLthwest LM Landmark Bank REPO Reperchase Agreement TNOTE Treasry Note FGIC AM Guaranty Ins Co. FCI First Commeroal MERRILL Merrill lynch Cost Accaved Inv, Cusip Purchase Term Mattnty Pnce Par Book Value Interest Total Prin.i Yield To Coupon Interest Seller Market of Typo Numb [Date Lindavs) Date Per$900 Value (Prin.Ory/ IP-meVy In_0 Mgt Y MIM Rate Rrchas IrsLt, p.scari Prerni Fwd VJaLie Portfoll WAM Fund 22 LOGIC N/A 100.0000 626,211.52 626,211.52 626,211.52 6.15% LOGIC 22 626,211.52 1.86% 000 FFCB 31331HBU0 1220/95 405 02/03/97 98.8810 335.000.00 331.251.35 22,863.75 357,863.75 5.59% 4.55% 5,800.62 Pnuprog 3,748.65 22 333,297,83 100% 406 FHLMC 313400A78 1128/95 434 02/10/97 99.0075 725.000.00 717,804.52 51,982.50 776,982.50 5.64% 4.78% 10,396.50 Pnprog 7,195.48 22 720,557.76 2.17% 9.41 FNMA 313589DD2 1022/96 146 03/17/97 97.8871 1,040,000.00 1,018,025 38 21,974.62 1,040,000.00 5.40% Pnprog 22 1,028,209.87 3.03% 4.42 FNMA 313589ED1 11/1256 149 04/10/97 97.8561 510,000.00 499,065.88 10,934.12 510,000.00 5.37% Pnprog 22 502,477.50 1.49% 2.21 FNMA 313589FJ7 11/1256 178 05/0957 97.4388 510,000.00 496,937.77 13,062.23 510,000.00 5.39% Pruprog 22 500,405.63 1.48% 2.63 FNMA 313589FM0 11/1456 179 05/1257 97.4244 510,000.00 496,864.38 13,135.62 510,000.00 5.39% Pruprog 22 500,182.50 1.48% 2.65 Subtotal 4,256,211.52 4,186.160.80 133,952.84 4,331,057.77 5.56% 16,197.12 10.944.13 0.00 subtotal 4,211,342.60 12.51% 2539 Fund 23 LOGIC N/A 100.0000 0.00 0.00 0.00 6,15% LOGIC 23 0.00 0.00% 0.00 Fund 24 LOGIC N/A 100.0000 107,162.90 107,162.90 107,162.90 6.15% LOGIC 24 107,162.90 0.32% 0.00 FGIC NIA 100.0000 61,276.30 61.276.30 61,276.30 4.64% FGIC 24 61,276.30 0.18% 0.00 Sbtotal 168,43920 168,439.20 0.00 168,439.20 5.39% 0.00 0.00 0.00 sbtotal 168,439.20 0.50% 000 Fund 26 LOGIC N/A 100.0000 886,581.96 886,581.96 0.00 886,581.96 6.15% LOGIC 26 886,581.96 2.64% 000 FHLB 313385aw6 092056 123 01/2157 98.1618 505,000.00 495,717.26 9,282.74 505,000.00 5.35% Pn.prog 26 503,39452 1.48% 1.81 FFCB 31331HBU0 122055 405 02/0357 98.8810 665,000.00 657,558.65 45,386.25 710,386.25 5.59% 4.55% 11,514.66 PrLprog 7,441.35 26 661,621.06 1.99% 8.07 FHLB 313385CP9 10/0956 145 03/0357 97.8935 515.000.00 504,151.38 10,848.62 515,000.00 5.42% Pnprog 26 510,237.11 1.50% 2.18 FNMA 313589HH9 1223/96 184 062557 97.3320 1.035,000 00 1,007,386.20 27,613.80 1,035,000.00 5.44% Pnprog 26 1,008,536.20 3.00% 5.52 FMAC 3134AOTT9 12/0356 420 012758 99.5625 505,000.00 502790.63 39,42288 544,427.88 5.60% 5.21% 9,199.84 Prtprog 2,209.37 26 502,317.19 1.52% 640 Subtotal 4,111 581 96 4,054.186.08 132,559.29 4,196,396.09 5.59% 20.714.50 9,650.72 0.00 subtotal 4,072,688.04 12.13% 2397 Fund 29 LOGIC N/A 100.0000 114,551.10 114.551.10 114,551.10 6.15% LOGIC 29 114,551.10 0.34% 0.00 Fund 32 LOGIC N/A 100.0000 192,006.77 192,006.77 192,006.77 6.15% LOGIC 32 192,006.77 0.57% 0.00 FNMA 31358946 10/01/96 126 02/0457 98.1450 300,000.00 294,435.00 5,565.00 300,000.00 5.49% Prudential 32 298,430.83 0.88% 1.10 FHLB 313385ON3 11/1456 132 03/2657 98.0970 510,000.00 500.294.70 9,705.30 510,000.00 5.36% Pn 4xog 32 503,533.62 1.49% 1.97 FNMA 313589EE9 10/0156 192 04/1157 97.1627 700,000.00 680,138.67 19,861.33 700,000.00 5.54% Merrill 32 689,571.75 2.02% 389 FNMA 313589HZ9 10/0156 283 07/1157 95.7393 500.000.00 478.696.39 21,303.61 500,000.00 5.68% Prudertial 32 486,053.33 1.42% 4.03 FHLB 313392U34 0111956 1080 01/1959 100.0000 250,000.00 250,000.00 43,387.50 293,387.50 5.79% 5.79% Pnderti al 32 248,281.25 0.74% 8.04 SIblotel 2,452,006.77 2,395 571 53 99,822.74 2,495,394.27 5.67% 0.00 0.00 0.00 scblOtw 2,417,877.57 7.13% 19.02 Fund 34 LOGIC N/A 100.0000 184,830.94 184,830.94 0.00 184,830.94 6.15% LOGIC 34 184,830.94 0.55% 0.00 FGIC N/A 100.0000 40,850.86 40,850.86 0.00 40,850.86 4.64% FGIC 34 40,850.86 0.12% 0.00 CD 042356 365 042357 100.0000 5,000.00 5.000.00 222.50 5,222.50 4,45% 445% Lndrtrk 34 5,000.00 (r01% 0.05 SLbtotel 230,681.80 230,681 80 222.50 230,904.30 5.08% 0.00 0.00 0.00 sblotal 230,681.80 0.69% 0.05 Fund 35 LOGIC N/A 100.0000 422,496.41 422,496.41 0.00 422,496.41 6.15% LOGIC 35 422,496.41 1.26% 0.00 Fund 39 LOGIC N/A 100.0000 205,070.64 205,070.64 205,070.64 6.15% LOGIC 39 205,070.64 0.61% 0.00 Fund 40 LOGIC N/A 100.0000 24,991.76 24,991.76 24,991.76 6.15% LOGIC 40 24,991.76 0.07% 0.00 TNOTE 912827930 07/3152 1800 07/3157 99.9570 50,000.00 49,978.50 13,750.00 63,750.00 5.50% 5.500% Shearson 40 50,031.25 0.15% 2.65 FHLB 01/1956 1080 01/1959 100.0000 750,000.00 750,000.00 130,162.50 880,162.50 5.79% 5.79% Pndenial 40 744,843.75 2.23% 24.11 Subtotal 824,991.76 824,970.26 143,912.50 968,904.26 5.81% 0.00 0.00 000 scbtotal 819,866.76 2.45% 26.75 Fund 50 LOGIC N/A 100.0000 117,254.98 117,254.98 117,254.98 6.15% LOGIC 50 117,254.98 0.35% 000 FGIC N/A 100.0000 1,869,011.80 1,869,011.80 1,869,011.80 4.64% FGIC 50 1,869,011.80 5.56% 000 FNMA 313589FX6 112056 183 052257 97.3821 510,000.00 496,648.62 13,351.38 510,000.00 5.36% Pruprog 50 499,438.75 1.48% 271 TNOTE 912827830 07/3152 1800 07/3157 99.9570 450,000.00 449,806.50 123,750.00 573,750.00 5.50% 5.50% Shearson 50 450,281.25 1.34% 24.11 Sbtotal 2,946,26678 2,932,721.90 137,101.38 3,070,016.78 541% 0.00 0.00 0.00 sbtotal 2,935,986.78 8.73% 26.81 Fund 54 LOGIC WA 100.0000 89,159.28 89,159.28 89,159.28 6.15% LOGIC 54 89,159.28 0.27% 0.00 TOTAL 33,818,616.44 33,465,088.50 1,855,692.46 35,349,999.32 68,992.73 28,876.10 4,200.00 TOTAL 33,554,861.37 100.00% 353.30 r f City of EUess ScheZe of Prcheses For Jaruery 1997 Irhvestmert Type InstiILA on LOGIC Investmert Pod FNMA Fed,Nall Mort.Asso. FHLB Fed.Home Loan Bank RAUSCHER Rauscher Pace BANC BancCne Capital MMS&W Masterson Moreland TRILL Treasuy Bill FFCB Fed.Farm Credit Bark FHLMC Fed.Home Loan Mort.Corp. PRUD Prudertal Seanees FSW First SoLthwesl LM Landmark Bark REPO Repuchase Agreemert TNOTE Treasuy Note FGIC Fint Gi-rarty Ins Co. A&B Ahart&Bryan MERRILL Meml Lynch Cost Aco%ed Total P+I Inv. Cusp Rrchase Tam Matuiy Price Par Book Value Irterest Total Yield To Coupon Iriaest Seller Maty Net of Total Cost Tw? ALLun-ttff Dktg Ln dayJ Date Per$100 Velyg (Plin.Orly) @ma4y _P_rIL'11 3 94"M Rale P1Jrr1has9d Inst Dlsegyt Prer" I" Prem [§c.$11tP5a gf Lmystmffi LOGIC N/A 01/0257 N/A 100.0000 350,000.00 350,000.00 0.00 350,000.00 6.120.6 LOGIC 1 350,000.00 350,000.00 FNMA 31364CND6 01/0357 287 10/1757 99.9300 1,000,000 00 999.300.00 55.500.00 1,055,500.00 5.63% 5.55% 11,716.67 Merril 700.00 1 1,043,78333 1,011,016.67 LOGIC N/A 01/0757 N/A 100.0000 350.000.00 350,000.00 000 350,000.00 5.19% LOGIC 1 350,000.00 350.000.00 FHLB 313395F67 01/0857 N/A OM858 100.0000 500,000.00 500,00000 28,850.00 528,850.00 5.77% 5.77% Ptdertial 2 528,850.00 500,000.00 LOGIC N/A 01/1057 N/A 100.0000 1,250,000.00 1,250,000.00 000 1,250,000.00 5.15% LOGIC various 1,250,000.00 1,250,000.00 FHLB 313385MO6 01/1057 269 10/0657 96.0248 300,000.00 288,074.33 11,925.67 300,000.00 5.57% Merril 1 300000.00 288,074.33 FNMA 313589MZ3 01/1057 278 10/1557 95.8918 500,000.00 479,458.89 20,541.11 500,000.00 5.57% Prud"al 1 500,000.00 479,458.89 FNMA 31364CVE6 01/1657 360 01/1658 99.8658 500,000.00 499,329.02 28,000.00 528,000.00 5.741/b 5.60% Merril 670.98 2 528,000.00 499,32902 LOGIC N/A 012157 N/A 100.0000 350,000.00 350,000.00 0.00 350,000.00 5.13% LOGIC 26 350,000.00 350,00000 FNMA 313589JN4 012357 182 072457 97.3458 510,000.00 496,463.75 13,536.25 510,000.00 5.47% PrWog 26 510,000.00 496,463.75 LOGIC N/A 012857 N/A 100.0000 250,000.00 250,000.00 0.00 250,00000 5.24% LOGIC 17 250,000.00 250,000.00 LOGIC N/A 0113057 N/A 100.0000 250,000.00 250,000.00 0.00 250,000.00 5.371/6 LOGIC 4 250,000.00 250,000.00 FGIC N/A 01/3157 N/A 100.0000 150,000.00 150,000.00 0.00 150,000.00 5.28% FGIC 21 150,000.00 150,000.00 FNMA 313589KA0 01/3757 186 08/0557 97.2875 500,000.00 486,437.50 13,562.50 500000.00 5.47% Merril 2 500,000.00 486,437.50 TOTALS: 6,760,000.00 6,699,063 49 171,915.53 6,872,350.00 5.48% 11,716.67 1,370.98 0.00 6,860,633.33 6,710,780.16 City of 6/ess Schedule of P rchases For Febnary 1997 Investment Type ktstitchon LOGIC Investment Pod FNMA Fed.Nat?Mort.Asso. FHLB Fed.Home Loan Banc RAUSCHER Rauscher Pierce BANC BancOne Capital MMS&W Masterson Moreland TRILL Treastry Big FFCB Fed.Farm Credit Bank FHLMC Fed.Home Loan Mat.Corp. PRUD Pndatial Secuiees FSW First S%&west LM Landmark Bank REPO Repurchase Agreement TNOTE Treasuy Note FGIC Ad Guaranty Ins Co. A&B Apert&Bryan MERRILL Memll lyrxh Cost Accrued Total P+I IM. Cusip Rrchase Term Matuity Rice Per Book Value Interest Tdel Yield To Coupon interest Seger Maty Net of Total Cost IYP2 NIS a dw) Rats Per$100 ML-4 (Prin.Only 9D maty in+Int Mabji Rev Rrchased Inst. DdsrgunI Premun EWA Prem,9sc&In!Fes. of InvestmerY FHLB 313385M.12 02(03/97 239 09!30/97 96.5212 685,000.00 661,170.37 23,829.63 685,000.00 5.47% Fnprog 26 685,000.00 661,170.37 LOGIC WA 02)16/97 N/A 100.0000 400,000.00 400,000.00 0.00 400,000.00 5.16% LOGIC 4 400,000.00 400,000.00 FHLB 313389GE2 02(07/97 428 04/15/96 99.9338 500,000.00 499,669.10 42,750.00 542,750.00 5.75% 5.70% 8,866.67 FSW 330.90 40 533.883.33 508,535.77 LOGIC N/A 0211097 N/A 100.0000 725,000.00 725,000.00 0.00 725,000.00 5.14% LOGIC 22 725,000.00 725,000.00 FMAC 313397GF2 022097 99 05!3097 98.5838 735,000.00 724,590.56 10,409.44 735,000.00 5.30% Prwog 22 735,000.00 724,590.56 LOGIC N/A 02/2497 N/A 100.0000 350,000.00 350,000.00 0.00 350,000.00 5.10% LOGIC 1 350,D00.00 350,000.00 LOGIC N/A 022897 N/A 100.0000 400,000.00 400,000.00 0.00 400,000.00 5.34% LOGIC 2 400,000.00 400,000.00 TOTALS: 3,795,000.00 3,760,430.03 76,989.07 3,837,750.00 5.32% 8,866.67 330.90 0.00 3,828,883.33 3,769,296.70 D ., City of Euless , Schedle of Purchases For March 1997 Investment Type Institution LOGIC Investment Pod FNMA Fed.Nat?Mart.Asso. FHLB Fed.Home Loan Behr RAUSCHER Rauscher Pace &ANC BercOro Cepitd MMS&W Masterson Moreland TBILL Treasury Bill FFCB Fed.Farts Credit Bank FHLMC Fed.Home Loan Mort.Corp. PRUO Pr dentid Securities FSW First Southwest LM Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note FGIC Fin'!Guaranty Iris Co. A&B Ahert&Bryan MERRILL Mehl Lynch Cost Accrued Total P+I Ina. Cudp Purchase Term Maturity Rice Per Book Value Interest Total Yield To Coupon Interest Seger Maty Net of Total Cost L= ys30Dg Daft: m9eysl Q"t Eff- 4 Y" (Prin.Oriel ill maty gjd+jnt Map+ity Rok Purchased i3llL. Discount ggmj5e@ E" Rem.Disc&It Rr of Investment FHLB 313385LG9 039397 185 09/04197 97.2969 530,000.00 515,673.81 14,326.19 530,000.00 5.48% Prwop 26 530,000.00 515,673.81 FNMA 3135891-04 03/0397 193 09/12/97 97.1747 500,000.00 485,873.47 14,126.53 500,000.00 5.49% Merril 2 500,000.00 485,873.47 FHLB 313385KK1 03/1497 153 08/14197 97.7475 1,000,000.00 977,475.00 22,525.00 1,000,000.00 5.50% Ment 1,2 1,000,000.00 977,475.00 FNMA 3113589GU1 03/1797 87 06/12/97 98.7313 710,000.00 700,991.88 9,008.13 710,000.00 5.39% Pnyroy 22 710,000.00 700,991.88 FHLB 313394525 03/1897 232 11/0597 100.0000 500,000.00 500,000.00 28,825.00 528,825.00 5.64% 5.77% 10,649.24 FSW 2 518,175.76 510,649.24 FFCB 31331HJM0 03/1897 259 12/02/97 99.7969 1,000,000.00 997,968.75 54,000.00 1,054,000.00 5.68% 5.40% 15.900.00 1st Comm 2,031.25 1 1,038,100.00 1,013,868.75 LOGIC N/A 0312197 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 5.20% Logic Various 1,000,000.00 1,000,000.00 LOGIC WA 032697 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.42% Logic Various 500,000.00 500,000.00 TOTALS: 5,740,000.00 5,677,982.90 142,810.85 5,822,825.00 5.48% 26,549.24 2,031.25 0.00 5,796,275.76 5,704,532.14 ��u� City of Euless Schedule of Metu flies For Jaruary 1997 hwestmert Type "tL6on LOGIC Irwestmart Pod FNMA Fed.Nall Mat.Asso. FHLB Fed.Home Loan Bark RAUSCHER Rauscher Pierce BANC BancQx Capital MMS&W Masterson Moreland TBILL Treasury Bil FFCB Fed.Farm Credit Bark FHLMC Fed.Home Loan Mat.Carp. PRUD Prudential Securities FSW First Scutluwest LM Landmark Bark REPO Repurchase Agreemart TNOTE Treasury Note FGIC flni Guararty Ins Co. A&B Mart&Bryan MERRILL Merrill Lynch Term to Cost Accrued Tdel P+I Iron. Cusip Purdiase Maty/Cal Mety/Cal Price Par Book Value Irterest Total Prin.* Yield To Coupon Irterest Seller Maty or cal Net of Total Cost TZ& 1 Qele in days QN1 Per 51 W Value a (Prin.Orin) CD matY/Cal Irt.@ Met Y MINIM Rete Purchased d he ascouS( Premi to F" Rem&Irl Pur. of hyestmat LOGIC WA 01/03197 100.0000 600,000.00 600,000.00 0.00 600,000.00 5.41% LOGIC 1 600,000.00 600,000.00 LOGIC N/A 01/08197 100.0000 400,000.00 400,000.00 0.00 400,000.00 5.13% LOGIC various 400,000.00 400,000.00 FHLB 313392UEO 01/10096 360 01/10/97 100.0000 500,100.00 500,ODD.00 27,150.00 527,150.00 5.22% 5.43% Barc One 1 527,150.00 500,000.00 FHLB 313394M47 10/10/96 360 10/1097 100.0000 1,000,000.00 1,000,000.00 61,000.00 1,061,000.00 6.10% 6.10% Pruud"al 1,2 1,061,000.00 1,000,000.00 Ttis security was celled 1/1097. Irterest at the cal was 15,250. LOGIC N/A 01/1497 100.11000 700,000.00 700,000.00 0.00 700,000.00 5.14% LOGIC 2,17 700,000.00 700,000.00 LOGIC WA 01/1697 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.349% LOGIC 21,26 500,000.DO 500,000.00 FHLB 313385AW6 092096 123 012197 98.1618 505,000.00 495,717.26 9,282.74 505,000.00 5.57% Pruprog 26 505,000.00 495,717.26 LOGIC N/A 0123197 100.0000 300,000.00 300,000.00 0.00 300,000.00 5.21% LOGIC 26 300,000.00 300,000.00 FHLB 313397BG5 12/1996 43 01/3197 99.3622 500,000.00 496,810.83 3,189.17 500,000.00 5.46% Pndertlel 2 500.000.00 496,810.83 TOTAL: 5,005,000.00 4,992,528.09 100,621.91 5,093,150.00 5.40% 0.00 0.00 0.00 5,093,150.00 4,992,528.09 �v cv c f � � City of Euess SchedUe of Madrities For February 1997 Irriesin Type Instiltbon LOGIC Irwestment Pod FNMA Fed.Nall Mort.Asso. FHLB Fed.Home Loan Bark RAUSCHER Raischer Rerce BANC BamCne Capital MMS&W Masterson Mordand TBI LL TreasuryBiti FFCB Fed.Farm Crecit Baric FHLMC Fed.Home Loan Mort.Corp. PRUD Prudential Seculties FSW First Sarthwest LM Landmark Bark REPO Reprchase Agreement TNOTE Treasuy Note FGIC Fhtl Guaranty Ins Co. A&B Ahart&Bryan MERRILL Memo Lyrdi Term to Cost Acai ed Total P+I Iron. Cusip Rrdiase Maty/Call Maty/Cdl Rice Per Book Value Interest Total Pnn.* Yield To Capon Interest Saler Maty or call Net of Total Cost Typg Nunber Date Qn-ysl Deg Pgr$100 Velue (Rrin.Orly) 12may_ — III, a[ McMN Rafe Plrchesed QIsc01lY PL�m15�n Pr— $.Ir><R�.. 4I Irr.�estmirt FFCB 31331HBUO 1220/95 405 02103/97 98.8810 335.000.00 331,251.35 22,863.75 357,863.75 5.59% 4.55% 5,800.62 Prtprog 3,748.65 22 352,063.13 337,051.97 FFCB 31331HBUO 122095 405 02/03197 98.8810 665,000.00 657,558.65 45,386.25 710,386.25 5.59% 455% 11,514.66 Pruprog 7,441.35 26 698.871.59 669,073.31 FNMA 313589131-6 1010196 126 0210497 98.1450 300,000.00 294.435.00 5,565.00 300,000.00 5.49% PrLprog 32 300,000.00 294,435.00 LOGIC N/A 0210797 100.0000 250,000.00 250,000.00 0.00 250,000.00 5.18% LOGIC 17 250,000.00 250,000.00 FMAC 31340OA78 112895 434 02/1097 99.0075 725,000.00 717,804.52 51,982.50 776,982.50 5.64% 478% 10,396.50 Prcprog 7,195.48 22 766,586.00 728,201.02 LOGIC N/A 02/1497 100.0000 750,000.00 750,000.00 0.00 750,000.00 5.17% LOGIC 4.29 750000.00 750,000.00 FMAC 313397EWO 1213196 45 02/1497 99.3313 800,000.00 794,650.00 5,350.00 800,000.00 5.48% 1st Comm 4 WOW 00 794,650.00 LOGIC N/A 022097 100.0000 325,00000 325,000.00 0.00 325,00000 5.35% LOGIC 22 325000.00 325,000.00 FMAC 313397CG4 112296 94 022497 98.6448 1,000,000.00 986.448.33 13.551.67 1000,000.00 5.35% Merril 1,2 1,000,000.00 986,448.33 FNMA 313589CL5 092796 154 022897 97.7499 500,000.00 488,749.44 11,250.56 500,000.00 5.47% Prndertal 2 500,000.00 488,749.44 TOTAL: 5,650,000.00 5,595,897.30 155,949.72 5,770,232.50 5.43% 27,711.78 18,385.48 0.00 5,742,520.72 5,623,609.08 City of Edess Schedre of Mahrities For March 1997 Investment Type In bblon LOGIC I-estment Pod FNMA Fed.Nett Mor.Asso. FHLB Fed.Home Loan Bark RAUSCHER Rauscher Pierce BANC BancOne Capital MMS&W Masterson Moreland TBILL Treashry DR FFCB Fed.Farm Crecit Bank FHLMC Fed.Home Loan Mort.Corp. PRUD Prudertal Seoritles FSW First Sohlhwest LM Landmark Bark REPO Reprchase Agreement TNOTE Treashry Note FGIC Finl Guaranty Ins Co. A&B Akan&Bryan MERRILL Memll Lynch Tenn to Cost Accrued Total P+I Inv. Cusip Rrchase Maty/Call Maly/Call Price Par Book Value Interest Total Prin.i Yield To Coupon Interest Seller Maty or call Net of Total Cost Type Ntrrhba Date (n days Date Per$100 Value (Prin.OrM @-matVcal Int,0 Met y MetutN Rate Rr¢has_gij Inst. UscoLrt )xe_mjLm Fred Rem&Ift P-1, 9f investment FHLB 313385CP9 10/09/96 145 031D3/97 97.8935 515,000.00 504,151.38 10,848.62 515,000.00 5.42% Pn.prog 26 515,000.00 504,151.38 LOGIC 03)0357 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.32% LOGIC venous 500,000.00 500,000.00 LOGIC 03)04197 100.0000 400,000.00 400,000.00 0.00 400,000.00 5.30% LOGIC van oils 400,000.00 400.000.00 LOGIC 030757 100.0000 150,000.00 150.000.00 0.00 150,000.00 5.14% LOGIC venous 150,000.00 150000.00 LOGIC 03/11197 100.0000 400,000.00 400,000.00 0.00 400,000.00 5.19% LOGIC van oils 400,000.00 400,000.00 FHLB 313393mcl 0320/96 359 03/14197 99.7031 1,000,000.00 997,031.25 52,750.00 1,052,750.00 5.59% 528% 879.17 FSW 2,968.75 1,2 1,051,870.83 997,910.42 FNMA 313589DO2 1022/96 146 03/17/97 97.8871 1,040,000.00 1,018.025.38 21,974.62 1,040,000.00 5.40% P>,prog 22 1,040000.00 1,018,025.38 FNMA 313589DE0 0920/96 179 03/18/97 97.3051 1.000,000.00 973,050.56 26,949.44 1,000,000.00 5.65% FSW 1 1,000,000.00 973,050.56 LOGIC 03/18197 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.30% Logic vanohs 500,000.00 500,000.00 FNMA 313589DH3 12/19/96 92 0321/97 98.6507 1,000,000.00 986,506.67 13,493.33 1,000,000.00 5.43% Merrill 2,4 1,000,000.00 986,506.67 FHLB 313385DN3 11/1456 132 0326/97 98.0970 510,000.00 500,294.70 9,705.30 510,000.00 5.36% Pn,prog 32 510,000.00 500.294.70 TOTAL: 7,015,000.00 6,929,059.93 135,721.32 7,067,750.00 5.37% 879.17 2,968.75 0.00 7,066,870.83 6,929,939.10 R kwestnx l Mapritles By FW As of March 31,1997 FtndLOGIC Aor 97 May 97 Am 97 ,iw 97 Aum 97 Seo 97 Od 97 Noy 97_ Dec 9 ,lead$ Feb 98 BDi98 9 Jan @2 Fob 9 Total 1 39,188.71 486,676.25 973,900.00 488,737.50 499,525.00 1,778,549.89 1,013,868.75 1,000,000.00 15,542.78 6,295,986.88 2 33,066.58 486,676.25 778,860.44 0.00 975,175.00 1,998,236.25 510,649.24 999,329.02 1,000,000.00 0.00 6,781,992.78 4 231,789.22 231,789.22 6 500,000.00 500,000.00 7 8 4,983.81 84,779.15 0.00 89,742.97 9 103,395.57 8,250.06 250,000.00 1,023,443.33 1,365,088.96 12 137,223.48 13 137,223.48 15 0.00 0.00 16 54,728.37 54.728.37 17 438,722.34 200,000.00 638,722.34 18 0.00 0.00 500,000.00 500,000.00 19 0.00 0.00 500,000.00 500,000.00 20 0.00 21 151,862.98 279,481.27 431,344.25 22 635,421.40 499,065.88 1,718,392.71 700,991.88 3,553,871.87 23 0.00 0.00 24 62,037.34 108,346.17 170,383.51 26 543,445.56 1,007,386.20 496,463.75 1,176,844.18 511,990.47 3,736,130.16 29 216,594.25 216,594.25 32 144,192.40 680,138.67 478,696.39 250,000.00 1,553.027.46 34 41,358.23 36,320.29 5,000.00 82,678.52 35 326.057.35 326,057.35 39 307,702.66 307,702.66 40 25,267.71 49,376.50 508,535.77 750,000.00 1,333,179.96 50 1,892,224.67 218,917.35 496,648.62 450,000.00 3,057,790.64 54 391,983.27 391,983.27 TOTAL: 2,255,842.59 4,261,47260 1,164,204.55 3,188,393.83 3,461,138.52 2,424,536.64 1,463,912.50 3,674,605.43 1,778,549.89 510,649.24 1,013,868.75 1,511,319.49 2,000,000.00 508,535.77 1,023,443.33 1,000,000.00 1,015,542.78 32,276.020.91 t T� �l l n�- r