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HomeMy WebLinkAboutFY 1998 Second Quarter Investment Report .Second 2uant� �Iru�ace�t �e�iont ��ea2 I/eat 19 9 ? - 19 INVESTMENT COMMITTEE MEETING April 30, 1998 * Compliance Summary-Legislative Requirements *Second Quarter Review, Fiscal Year 1998 Portfolio summary i Collateral Review Interest Income Projection *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 , 1998 *General Discussion or Questions T H E C I T Y O F EULESS To Investment Committee Members From Vicki Smith1 Date 4/29/98 Subject Quarterly Investment Performance Report The City of Euless Investment Policy, revised and adopted by the City Council in December 1997, 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 1997-98 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 1,1997 in all aspects including reporting. The second quarter report of FY 1998 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 1/97, changes in market value, the market value at 3/3 1/98, 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. 201 N. Ector Drive, Euless, Texas 76039-3595 817/685-1400 • Metro 817/267-4403 • FAX 817/685-1416 Investment Strategy Compliance The strategy for all pooled funds is to assure that cash flows are matched with projected needs and ssume 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 24 Police Drug Account-D.E.A. 2 Water & Sewer Fund 29 Drainage Utility 12 Hotel-Motel Tax Fund 33 Athletic Complex-Operations 16 Ft. Worth DEA Task Force 34 Softball World-Operations 17 Risk Management Fund 50 1/2 Cent Sales Tax-Operations 21 Equipment Replacement Fund 54 Crime Control & Prevention District 22 Golf Course-Operations -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 36 Golf Course-CIP 26 Streets & Drainage-CIP 39 Drainage CIP 28 G.O. Capital Projects Fund 40 Water & Sewer-Impact Fees Fund `,, 32 Athletic Complex-CIP 51 1/2 Cent Sales Tax-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 52 1/2 Cent Sales Tax-Debt Service 44 Water/Sewer Debt Service -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 53 1/2 Cent Sales Tax-Bond Reserve Based on the above strategies, the investment portfolio reported herein is in compliance with the relevan rovisions of the investment policy and the Public Funds Investment Act. Loretta Getchell, ctor Of Finance Vicki S i Cas and e t nalyst PORTFOLIO SUMMARY The City's pooled investment portfolio at the end of the second quarter, March 31, 1998, is summarized by instrument and by maturity as shown below. Distribution by Instrument % of Average Prior Instrument Type $COST Portfolio Yield Quarter Agencies 18,582,369 64.29% 5.67% 5.71% Treasuries 0 0.00% N/A N/A Money Markets/Pools 10,318,252 35.70% 5.75% 6.09% Certificates of Deposit 5 Q00 0.02% 5.00% 5.00% $28,905,620 100.00% Compared to prior quarter's level, the average yields have remained fairly stable,with a slight decrease in the portfolio's average. Distribution by Maturity #of Days Cost %of Portfolio 1 -30 $11,233,471 38.86% 31 -90 $2,475,853 8.57% 91 - 180 $3,936,780 13.62% 181-365 $7,970,548 27.57% Over 365 $3,2.88,969 11.38% Total - $28,905,620 -_- 100.00% This information reflects the current structure and strategy of the City's pooled portfolio. Close to 61%of the portfolio is invested within the six month area. This strategy was followed, not only to meet cashflow needs, but also because the yield curve is very flat. There is no advantage in placing funds beyond one year. Interest rates are beginning to drop. Therefore we placed some funds out longer to lock in on higher interest rates. Approximately 28% of our portfolio is invested between the six month and one year range, and an additional 11% beyond one year. We were able to comply with our investment policy by using reserve and escrow funds. By Instrument By Maturity (64.3%) (38.9%) V,�Agencies (8.6%) ®1 -30 �Treasuries ®31 -90 (0.0%) 91 -180 N9 MMkts/Pool . ® (3 CD's (13.6%) (11.4%) 0181-365 ®Over 365 (0.0%) -- 5 790 (27.6%) ) City of Euless Pooled Portfolio Summary for Quarter Ending 0 March 31 , 1998 Cost Book Market Princal Only Vie Value Investments at December 31, 1997 $24,235,895.74 24,279,095.82 $24,272,413.59 Investment Purchases 22,447,220.92 Investment Maturities (17,982,241.63) Investment Sales 0.00 Dividends Reinvested (Pools) 84,936.17 Investments at December 31, 1997 $28,785,811.20 $28,868,175.44 $28,874,675.16 kud_— ZeMetchell, Director Of Finance Vicki Smith, Cash and Debt Analyst Summary of Investments by Fund Market Market Increase/ Value Value Decrease 12/31/97 _0.3/31/98 Irt Fund 1 $5,463,022.69 $6,014,354.23 $551,331.54 2 6,141,356.81 6,457,589.56 $316,232.75 4 27,770.76 233,066.04 $205,295.28 6 499,609.38 500,078.13 $468.75 8 1,050,383.67 940,894.58 ($109,489.09)- 9 1,512,120.74 1,259,572.92 ($252,547.82) 12 40,120.25 101,104.68 $60,984.43 16 41,961.73 5,887.09 ($36,074.64) 17 719,109.99 527,429.68 ($191,680.31) 18 498,125.00 499,375.00 $1,250.00 19 498,125.00 499,375.00 $1,250.00 21 483,263.13 179,951.58 ($303,311.55)- 22 0.00 0.00 $0.00 24 301,810.39 240,662.96 ($61,147.43) 26 530,480.11 4,404,774.81 $3,874,294.70 " 28 0.00 1,039,321.02 $1,039,321.02 *' 29 428,213.90 333,022.42 ($95,191.48) 32 0.00 0.00 $0.00 34 242,863.41 50,928.13 ($191,935.28) 35 0.00 0.00 $0.00 36 201,341.73 0.00 ($201,341.73)- 39 419,395.94 251,125.01 ($168,270.93)- 40 1,633,307.97 1,636,734.92 $3,426.95 50 651,258.95 700,054.01 $48,795.06 51 1,328,400.45 1,212,231.55 ($116,168.90)" 53 948,650.53 965,005.25 $16,354.72 54 611,721.05 822,136.61 $210,415.56 TOTAL: $24,272,413.58 $28,874,675.18 $4,602,261.60 "These variances can be attributed to cash disbursements for capital improvement projects, debt service and equipment purchases. 'Fund 26 and 28 increased due to the receipt of bond proceeds at the end of March. The General Fund (01)and G.O. Debt Service Fund (04) increased due to the receipt of property tax payments during the first quarter of 1998. Fund Names 1 General Fund 26 Streets& Drainage-CIP 2 Water&Sewer Fund 28 G.O. Capital Projects Fund 4 Debt Service/General Obligation 29 Drainage Utility 6 Water&Sewer-Emergency Fund 32 Athletic Complex 8 Water&Sewer-CIP 34 Softball World Operations 9 Developer's Escrow Fund 35 Softball World-CIP 12 Hotel-Motel Tax Fund 36 GolfCourse-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 51 1/2 Cent Sales Tax-CIP 21 Equipment Replacement Fund 53 1/2 Cent Sales Tax-Bond Reserve 22 Golf Course-operations 54 Crime Control& Prevention District 24 Police Drug Account-D.E.A. Cash Management Activity Average 90 Day T Bill Yield Average City Basis Point Month (Benchmark) Portfolio Yield Difference Jan 5.17% 5.67% 0.50% Feb 5.21% 5.68% 0.47% Mar 5.15% 5.67% 0.52% During this quarter, the economy has been surprisingly strong. Interest rates have remained fairly stable throughout the quarter as reflected in our portfolio and benchmark rates. Without any Fed action, rates should remain steady for the next few months. Our portfolio continues to exceed the benchmark rates. This quarter marks the twelfth consecutive quarter that the City's portfolio met and exceeded the benchmark! Month I-nvested Balance Cash B"Ince % Invested Jan $25,165,415.05 $212,013.71 100% Feb $24,747,892.12 ($227,253.32) 101% Mar $28,806.876.41 $102.248.88 1000k Average $26,240,061.19 $29,003.09 100% 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 $300 Cash 120% $200 100% $100 80% v c a $0 80% 40% ($100) 20% ($200) 0% - Jan Feb Mar ($300) Jan Feb Mar I 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 3131198 Pledging Safekeeping Pledged Sec. Security Market Value Inv. Value Difference Insituti n Location Description Par Value (w/FDIC I.ns.) @ Maty-P-8 I) Over/(Under)] Bank One $0 $100,000 $22,464 $77,536 $ Mkt $0 DDA $22,464 ,Landmark Bank Texas Indep $1,500,000 $1,607,345 $449,789 $1,157,556 Bank-Dallas FNMA due Payroll $128,334 11/16/00 $500,000 Operating $321,455 FNMA due 10/26/01 $1,000,000 (Reproduced By: Cash &Debt Department Date: Reviewed by: p l Q Director of Finance 11 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 FY96-97 Budget: $1,609,453 FY97-98 Budget: $1,006,365 FY96-97 Actual: $1,716,725 FY97-98 Y-T-D: $646,654 Percent of Budget: 107% FY97-98 Projected: $1,364,781 Proj. %of Budget: 135.61% The FY97-98 projected interest income amount is comprised of interest income received year-to-date, coupon payments and interest to be received on ebsting 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 3131198 Fund Fund FY 97 FY 97 *FY 98 FY 98 Cpas& Proj Less PY Pr0i _ Name Aud 1 YTD UsUmv Accrual Accrual Rein 19fa1 Difference 1 General $390,000 !W10,288 5390 000- $197,769 $199,526 $54,52 $95 790 $37 000 5393 026 $3,026 2 WtNSoA r 345,000 363,715 345,000 111,500 188,766 73,660 49,813 22,000 346,112' 1,112 4 GO Debt 19,000 21,806 15,000 7,755 0 0 0 7,000 14,755 2 8 W&S CIP 9500 16,300 5,000 15,133 24,082 14,163 2,400 55,724 50,724 9 Escrow 70,000 78,590 0 40,246 34,281 2,852 19,38 420 58,413 58,413 10 LLEBG 0 0 0 0 0 0 0 0 0 0 12 FloteUMotel 51500 7 364 5,000 1,553 0 0 0 4000 5553_ 553 16 DEA Task 311 1,247 0 713 -0-0- 0 240 953 953 17 Risk t 26,000 31,693 25,000 18,975 0 0 2,258 8,700 25,417 417 21 Ea.R . 10,000 16,321 8,000 9,608 0 0 0 1,800 11,408 3,408 22 Golf Course 133,578 142,028 3,000 0 0 0 0 ,669 61669 24 Fund 6,000 9,693 0 7,751 0 0 0 5,000 12,751 12,751 26 Street CIP 165,000 180,994 0 35,462 0 0 12,500 20,000 42,962 42,962 28 G.O.CIP 0 0 0 171 0 0 0 4,000 4,171 4,171 29 Drainage 7,500 11,244 8,000 10,381 0 0 0 81000 18,381 10,381 30 Cash FAgm 53,003 53,113 65,365 58,202 0 01 0 7,163 65,365 0 32 Ath.CmpIx CIP 94,000K148,456 0 4,26 0 0 0 0 4,26 4, 33 Ath.Cm 0 5,000 220 0 0 0 0 5, 34 Softball World 6,500 5,000 4,517 250 0 110 1,800 6,457 1,457 35 Softball CIP 9,500 0 0 0 0 0 0 0 0 36 Golf Course CIP 0 0 5,472 0 0 0 0 5,472 5,472 39 DUS CIP 8,600 4,000 9,423 0 0 0 6,000 15,423 11,423 40 Impact Fee 65,000 25,000 39,709 35,724 28,086 1,619 3,600 85,500 60,500 50 1/2 Cent 135,000 65,000 10,741 20,322 0 4,524 12,000 38,538 26,51 1/2 Cent-CIP 00 19,215 13,926 0 0 12,000 45,142 45,142"53 1/2 Cent-Reserve 0 0 29,802 0 0 0 24,000 53,802 53,802 54Crime Control 9,500 5,000 18,589 0 0 0 20,000 38,589 33,589 90 W&S Res 40,961 28,000 2,123 31,855 0 14,956 10,000 29,022 1,022 Total - I $1,609,453 51,716,725 51,006,365 $646,854 5548,733 $173,283 $221,012 $217,1231 $1,364,781 5358,416 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. Several funds were not budgeted due to the volatility of their revenues and expenditures. However, these funds are used for investment purposes when they have funds available. These funds include Capital Improvement Projects and DEA funds. 'Fiscal Year 1998 Budget numbers are based on an average rate of return of 5.25%. This estimate was based on the average 90 day T-Bill rate during the first half of 1997. These rates ranged from 5.12%to 5.28%. "The interest earned in this fund will be transferred to the Half Cent Sales Tax operating fund. Only the reserve amount required by the bond covenant will remain in this fund. • Economic Environment and Interest Rate Outlook Economic indicators released during the first quarter of 1998 suggest that the economy is still going strong. New home sales reported the largest increase on record due to mild weather and low interest rates. Retail sales were also up for the quarter. Although the economy is still showing tremendous strength, most economists believe that it will begin to slow in the second quarter. The Fed is still concerned with the continued strength of the economy. They have been waiting for the crisis in the Asian markets to cause a slowdown in our economy. But, this hasn't happened. The Fed met in April and the minutes from this meeting will be released on May 21 st. The Wall Street Journal reported that the Fed adopted a bias towards raising rates at this meeting but this has not been confirmed. The Fed will continue to watch for signs of inflation and continued strength in the economy before taking any action. MINUTES INVESTMENT COMMITTEE MEETING 03/30/98 Members: Joe Hennig, Assistant City Manager Loretta Getchell, Director of Finance Jim Hickerson, Accounting Manager Vicki Smith, Cash and Debt Analyst Committee members present included Joe Hennig, Loretta Getchell, and Vicki Smith. Vicki Smith presented the first quarter investment report. She pointed out that some of the funds will not make their budgeted interest income due to a lack excess revenues. These funds included the Golf Course and Athletic Complex. However, any excess revenues would be invested when available. The Committee reviewed the report. Loretta Getchell moved to accept the report as presented, Joe Hennig seconded. Joe Hennig motioned to adjourn the meeting and Loretta Getchell seconded. Meeting was adjourned. s • III • City Of Euless ktvestmant Portfdio As of December 31,1997 Investment Type Institution LOGIC 41ent Pod FNMA Fed.Nat'l Mon.Asso. FHLB Fed.Home Loan Bank RAOSCHER Rauscher Pierce BANCONE Banc One Capital Pnlprog Prudential N1grr6 Pmgam(through Gibraltar) �m TB LL Treasury Bill FFCB Fed.Farm Credit Bank FMAC Fed.Horne Loan Mott.Corp. PRUD Prudential Securities FSW First Southwest LNOMRK Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Financial Investors Trst 1st Comm First Commercial MERRILL Merrill Lynch Inv. Cusip Purchase Tenn Motu ty Days Price Per Principal Interest Interest Yield To Book Market Market Seller Lkwnortized Coupon N� er Date (in d Date ed � Value (�Y Accrued N_tu�it( Value Price Sa !rte �s ►Um env U.S. Rate GOVERNMENT AGENCIES Agency Discount Notes FNMA 313589SR5 07/31/97 188 02/)4/98 153 97.2166 500,000.00 486,082.78 13,917.22 11,328.25 5.54% 497,409.03 99.4555 497,277.50 Merrill FHLB 313385TA4 12/19x97 56 02/13/98 12 99.1242 500,000.00 495,821.11 4,378.89 938.33 5.76% 496,559.44 99.3156 496,577.80 Everen FMB 313385WF9 07/31/97 274 05/01198 153 95.9357 500,000.00 479,878.33 20,321.87 11,347.50 5.59% 491,025.83 98.1346 490,872.90 Merrill FNMA 313589XG3 12/07/97 175 0528/98 29 97.3215 500,000.00 486,607.64 13,392.36 2,219.31 5.74% 488,826.94 97.7492 488,745.85 Merrill FNMA 313589XNB 1ZW197 181 06/01/96 29 97.2247 500,000.00 486,123.33 13,876.67 2,223.33 5.76% 488,346.67 97.6693 488,346.67 Merrill FNMA 313589ZM 12/31/97 208 07/27/96 0 96.8684 500,000.00 484,34222 15,657.78 0.00 5.65% 484,342.22 96.8222 484,111.10 Everen TOTAL: 3,000,000.00 2,918,455.42 81,544.58 28,054.72 5.67% 2,946,510.14 2,945,731.82 Agency Coupon Notes FHLB 3133951767 0110857 360 01/08198 352 100.0000 500,000.00 500,000.00 28,850.00 28,208.89 5.77% 500,000.00 99.9688 499,843.75 Prudential 5.77% FNMA 31364CVE6 01/16197 180 01/16/98 164 99.8658 500,000.00 499,329.02 14,000.00 12,755.56 5.74% 500,000.00 100.8583 503,261.25 Merrill 670.98 0.00 5.60% FMAC 3134ADTr9 1210.3198 180 01/27/98 153 99.5625 505,000.00 502,790.63 13,142.63 11,171.23 5.60% 505,000.00 99.5763 502,880.06 Pruprog 2,209.37 0.00 5.21% FHLB 313M= 02/20/96 180 02/20/98 130 100.0000 2,000,000.00 2,000,000.00 52,500.00 37,916.67 5.25% 2,000,000.00 99.9688 1,999,375.00 Banc One 0.00 5.25% FHLMC 313400SR5 08/14x97 180 03/111% 109 99.7119 1,200,000.00 1,196,543.09 31,140.00 18,857.00 5.70% 1,199,012.32 99.9219 1,199,062.50 FSW 3,458.91 (987.88) 5.1996 FHLB 313389HNO 07/31/97 180 041271% 63 99.7188 600,000.00 596,312.50 15,780.00 5,523.00 5.64% 599,437.50 99.9219 599,531.25 Banc One 1,687.50 (562.50) 5.28% FHLMC 31340DUAD 08/13/97 180 04/29/98 61 99.6880 300,000.00 299,084.00 7,965.00 2,699.25 5.75% 299,649.00 99.7344 299,203.13 Banc One 938.00 (351.00) 5.31% FNMA 31364AZL9 12/01/95 180 06/25x98 5 99.1719 1,000,000.00 991,718.75 27,050.00 751.39 5.76% 998,621.45 99.9063 999,082.50 Rauscher 8,281.25 (1,378.55) 5.41% FNMA 31354AC75 10/15197 180 08/26/98 124 99.5000 500,000.00 497,500.00 12,900.00 8,886.67 5.75% 496,250.00 99.8583 498,281.25 FSW 2,500.00 (1,750.00) 5.16% FNMA 31384AE65 12131197 too 09/28/96 92 99.4375 500,000.00 497,187.50 24,600.00 12,573.33 5.690% 497,500.00 99.4375 497,187.50 1st Comm 2,812.50 (2,500.00) 4.920% FHLB 3133M1T74 10!23197 180 10/13/98 67 99.9420 1,000,000.00 999,420.00 28,500.00 10,808.33 5.76% 999,525.46 99.9688 999,687.50 Merrill 580.00 (474.54) 5.70% FMB 313392D33 09/29/97 180 11/02/96 58 100.0000 940,000.00 940,000.00 27,354.00 8,814.07 5.81% 940,000.00 100.0313 940,293.75 Merrill 0.00 5.82% FHLB 313392U34 01/19/96 180 01/19199 161 100.0000 1,000,000.00 1,000,000.00 28,925.00 25,871.81 5.79% 1,000,000.00 99.8281 998,281.25 Prudential 0.00 5.79% FHLB 313393DC1 02/10/96 180 02110199 130 100.0000 1,000,000.00 1,000,000.00 27,700.00 20,005.58 5.54°% 1,000,000.00 99.6250 996,250.00 Prudential 0.00 5.54% FHLB 313M2NH6 12/24/97 540 06/24199 6 99.9688 290,000.00 289,909.38 26,339.25 292.88 6.08% 289,924.49 99.9688 289,909.38 Everen 90.62 (75.51) 6.055% FMB 3133W542 1030.'97 180 08/30/99 80 100.0000 1,000,000.00 1,000,000.00 29,750.00 9,916.67 5.93% 1,000,000.00 99.8906 998,906.25 Everen 0.00 5.95% TOTAL: 12,835,000.00 12,811,774.86 396,495.86 214,852.07 12,826,920.22 12,821,016.31 23,225.13 0.00 (8,079.78) CERTIFICATES OF DEP0SIT30.00 5.00% CD 04/2357 365 04/23x96 160 100.0000 5,000.00 5,000.00 250.00 109.59 5.00% 5,000.00 100.0000 5,000.00 Lndmk INVESTMENT POOLS LOGIC WA WA WA WA WA 100.0000 5,995,979.23 5,995,979.23 WA WA 6.58% 5,995,979.23 100.0000 5,995,979.23 LOGIC FGIC WA WA WA WA WA 100.0000 2,504,686.23 2,504,68623 WA WA 5.60% 2,504,686.23 100.0000 2,504,686.23 FGIC TOTAL: 8,500,865.46 8,500,685.46 8,500,665.46 8,500,685.46 TOTAL PORTFOLIO 24,340,665.46 24,235,895.74 478,290.46 243,016.38 24,279,095.82 24,272,413.59 23,225.13 0.00 (8,079.78) a City of Eules? Investment Part As of Mardi 31, x. Investment Type Institution LOGIC Investment Pod FNMA Fed,Nat'l Mort.Asso. FHLB Fed.Home Loan Bank RAUSCHER Rauscher Pierce BANCONE Banc One Capital Pruprog Prudential Mgmt Progam(through Gibraltar) TBILL Treasury Bill FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mort.Corp. PRUD Prudential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurchase,agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Finanaciai Investors Trst 1 st Comm First Commercial MERRILL Merrill Lynch Inv. Cusip Purchase Term Maturity Days Price Par Princpal Interest Interest Yield To Book Market Market Seller Unarnortized Coupon Type Number Date in d Date Accrued Per 100 Value Invested c®mat,v Accrue4 Matun Value Price Value Inst. Discount Premum PrenVDisc Rate U.S.GOVERNMENT AGENCIES Agency Discount Notes FMB 313385WF9 07/31/97 274 05/01/98 243 95.9357 500,000.00 479,678.33 20,321.67 18,022.50 5.59% 497,700.83 99.5307 497,653.47 Merrill FNMA 313589XG3 12/02/97 175 05/26/98 119 97.3215 500,000.00 486,607.64 13,392.36 9,106.81 5.74% 495,714.44 99.1522 495,761.10 Merrill FNMA 313589X0/8 12/02/97 181 06/01/98 119 97.2247 500,000.00 486,123.33 13,876.67 9,123.33 5.76% 495,246.67 99.0614 495,306.94 Merrill FNMA 313589yYZ0 01/02/98 185 07/0658 88 97.2147 500,000.00 486,073.61 13,926.39 6,624.44 5.65% 492,698.06 98.5315 492,657.65 Menill FNMA 313589ZH9 01/09/98 186 07/14/86 81 97.3313 500,000.00 486,656.25 13,343.75 5,810.99 5.47% 492,467.24 98.4104 492,052.09 Merrill FNMA 3135%ZW6 1231/97 212 07/77/98 90 96.8684 500,000.00 484,342.22 15,657.78 6,647.17 5.65% 490,989.39 98.2136 491,068.06 Everen FNMA 313589A86 01/02/98 216 08/06/98 88 96.7660 500,000.00 483,830.00 16,170.00 6,587.78 5.62% 490,417.78 98.0729 490,364.25 Everen FNMA 313589623 03/19/98 162 09/17/98 12 97.3206 500,000.00 486,602.78 13,397.22 883.33 5.52% 487,486.11 97.4500 487,250.00 FSW FNMA 31364DDD5 01/27/98 362 01/24/99 63 94.7422 500,000.00 473,710.94 26,289.06 4,575.17 5.52% 478,286.11 97.7114 488,556.90 Merrill TOTAL: 4,500,000.00 4,353,625.10 146,374.90 67,381.52 5.61% 4,421,008.62 4,430,670.45 Agency Coupon Notes FMB 313389HN13 0731/97 180 04/27/96 153 99.7188 600,000.00 598,312.50 15,780.00 13,413.00 5.64% 600,000.00 100.0156 600,093.75 Banc One 1,687.50 0.00 0.00 5.26% FHLNIC 3134000AG 06!13/97 180 04/29/98 151 99.6880 300,000.00 299,054.00 7,965.00 6,681.75 5.75% 300,000.00 99.9531 299,859.38 Banc One 936.00 0.00 0.00 5.31% FNMA 31384AZL9 12/01195 180 06/25/98 95 99.1719 1,000,000.00 991,718.75 27,050.00 14,276.39 5.76% 1,000,000.00 99.9844 999,843.75 Rauscher 0.00 0.00 0.00 5.41% FNMA 31364AC75 10/15/97 180 08/26/98 34 99.5000 500,000.00 497,500.00 12,900.00 2,436.67 5.75% 499,000.00 99.9063 499,531.25 FSW 2,500.00 0.00 (1,000.00) 5.16% FMB 31338900 01/02/98 180 09/09/98 21 99.4422 500,000.00 497,210.78 11,962.50 1,395.63 5.61% 498,256.75 99.7344 498,671.88 FSW 2,789.22 0.00 (1,743.25) 4.79% FNMA 31364AE65 1231/97 180 09/28/98 2 99.4375 500,000.00 497,187.50 12,300.00 138.67 5.69% 498,437.50 99.7500 498,750.00 1st Comm 2,812.50 0.00 (1,562.50) 4.920% FHLB 3133M1T74 10/2357 180 10/23/98 157 99.9420 1,000,000.00 999,420.00 28,500.00 24,858.33 5.76% 999,683.65 100.0781 1,000,781.25 Merrill 580.00 0.00 (316.35) 5.70% FNMA 31364AG97 02/10/98 180 11/02/98 50 99.9200 1,000,000.00 999,200.00 27,100.00 7,527.78 5.52% 999,377.78 99.9531 999,531.25 FSW 800.00 0.00 (622.22) 5.42% FHLB 313392D33 09!29/97 180 11/02/98 148 100.0000 940,000.00 940,000.00 27,354.00 22,491.07 5.81% 940,000.00 100.0781 940,734.38 Merrill 0.00 0.00 0.00 5.82% FHLB 313395CM5 01!23/98 180 12/30/98 67 100.2891 500,000.00 501,445.31 14,375.00 5,350.69 5.42% 501,051.12 100.0469 500,234.38 Banc One 0.00 1,445.31 1,051.12 5.75% FHLB 313392LI34 01/191% 180 01/19/99 71 100.0000 1,000,000.00 1,000,000.00 28,925.00 11,409.31 5.79% 1,000,000.00 100.0313 1,000,312.50 Prudential 0.00 0.00 0.00 5.79% FNMA 31359CAW 03./02/98 180 02/12/99 28 99.9375 1,000,000.00 999,375.00 27,750.00 4,316.67 5.61% 999,431.82 99.8906 998,906.25 Banc One 625.00 0.00 (568.18) 5.55% FMB 313393DC1 02/20/96 180 02/20/99 40 100.0000 1,000,000.00 1,000,000.00 27,700.00 6,155.56 5.54% 1,000,000.00 99.8750 998,750.00 Prudential 0.00 0.00 0.00 5.54% FHLB 3133M3R72 03/27/98 180 0325/99 3 99.9531 1,000,000.00 999,531.25 27,600.00 463.33 5.61% 999,531.25 99.9219 999,218.70 Banc One 468.75 0.00 (468.75) 5.56% FHLB 313WN1-16 1224/97 540 0624199 96 99.9888 290,000.00 289,909.38 26,339.25 4,682.53 6.08% 289,969.80 99.9688 289,909.38 Everen 90.62 0.00 (30.20) 8.055% FMB 3133M1542 10/30/97 240 06/30/999 150 100.0000 1,000,000.00 1,000,000.00 39,666.67 24,791.67 5.93% 1,000,000.00 100.0313 1,000,312.50 Everen 0.00 0.00 0.00 5.95% FMB 3133M2W86 0120/98 180 07/20/99 70 100.0000 1,000,000.00 1,000,000.00 28,000.00 10,888.89 5.60% 1,000,000.00 99.7500 997,500.00 Everen 0.00 0.00 0.00 5.60% FNMA 31364FM-2 01/12/98 180 01/12/00 78 99.9060 1,000,000.00 999,060.00 28,000.00 12,133.33 5.65% 999,177.51 99.7813 997,812.50 Merrill 940.00 0.00 (822.49) 5.60% TOTAL: 14,130,000.00 14,106,934.46 419,467.42 173,409.25 5.701/b 14,123,917.18 14,120,753.08 14,229.59 1,445.31 (6,082.82) CERTIFICATES OF DEPOSITS CD 0423/97 365 0423/98 342 100.0000 5,000.00 5,000.00 250.00 234.25 5.00% 5,000.00 100.0000 5,000.00 Lndnrk 0.00 5.00% INVESTMENT POOLS LOGIC WA WA WA WA WA 100.0000 8,893,428.41 8,893,428.41 WA WA 6.01% 8,893,428.41 100.0000 8,893,428.41 LOGIC FGIC WA WA WA WA WA 100.0000 1,424,823.22 1,424,823.22 WA WA 5.49% 1,424,823.22 100.0000 1,424,823.22 FGIC TOTAL: 10,318,251.63 10,318,251.63 5.75% 10,318,251.63 10,318,251.63 TOTAL PORTFOLIO 28,953,25L63 28,785,811.20 566,092.31 241,025.02 28,868,175.44 28,874,675.16 14,229.59 1,445.31 (6,082.82) City of Euless Investment by Fund As of December 31,1997 Investment Type Institution LOGIC Investrnatt Pod FNMA Fed.Nat'l Moi.Asso. FHLB Fed,Home Loan Bank RAUSCHER Rauscher Pierce BANCONE Banc One Capital Pruprog Prudential Mgmt Progam(through Gibraltar) PRUD Prudential Securities FSW First Southwest LNDMRK Landmark Bank TRILL Treasury Fed.Farre Credit Bank CMAC Fed.Home Loan Mort.Corp. FGIC Finanadal Investors Trst 1st Comm First Commercial MERRILL Merrill Lynch REPO Reprrchase se AgrAgreementTNO TNOTE Treasury Note CD Certificate of Deposit Cost Accrued Market %of Inv. Cusip Purchase Tenn Maturity Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller ch urr Date in days) Date Per 100 Value (Pen.Only) 0 mar Int (M Met' Maturi Rate Purchased Inst. Discount Premum Fund Value Portfolio WPM Ty- Fund 1 LOGIC 1 883,714.67 3.63% 0.00 LOGIC WA 100.0000 883,714.67 883,714.67 863,714.67 5.56°% E1.eren 1 496,577.80 2.03% 1.14 FHLB 313385TA4 12/19/97 56 02/13/98 99.1242 500,000.00 495,621.11 4,378.89 500,000.00 5.76% Banc One 1 999,687.50 4.10% 9.55 FHLB 313393CX6 0221056 720 02120/98 100.0000 1,000,000.00 1,000,000.00 105,000.00 1,105,000.00 5.25% 5.25% 1 599,531.25 2.51% 5.25 FSW FHLMC 313400SR5 08/14/97 209 03/11/98 99.7119 600,000.00 598,271.54 31,140.00 631,140.00 5.70% 5.19°% 13,234.50 Merrill 1,728.45 1 486,745.85 2.001% 3.50 FNMA 313589XG3 12WJ97 175 0512em 97.3215 500,000.00 486,607.64 13,392.36 500,000.00 5.74% 1 498,281.25 206% 6.40 FNMA 31364PG75 10/15.57 311 08/26/98 99.5000 500,000.00 497,500.00 25,800.00 525,800.00 5.75% 5.16% 3,511.67 FSW 2,500.00 1 497,187.50 2.07% 5.60 FNMA 3136OC75 12131!97 271 0912858 99.4375 500,000.00 497,187.50 24,600.00 524,600.00 5.690% 4.920% 6,355.00 1st Comm 2,812.50 1 499,843.75 2.05% 7.38 FHLB 31364AE65 142357 360 10/23/98 99.9420 5100,000.00 499,710.00 28,500.00 528,500.00 5.76% 5.70% Merrill 1 0.00 0.06% 0.69 FHLB 313393DC1 02/20.56 1080 02/20/99 100.0000 0.00 0.00 0.00 0.00 5.54% 5.54% 15,542.78 Prudential 1 499,453.13 2.05% 11.08 FHLB 3133M1542 10/30/97 540 06/30/99 100.0000 5�,7�.00 500,000.00 49,583.33 282,394.58 5,7448,338.00 5.9,583.33 77% 5.95% 38 643.95 E�eren 7,330.95 0.00 subtotal 5,463,022 69 22.56% 70.58 Subtotal Fund LOGIC 2 567,945.92 2.33% 0.00 LOGIC WA 100.0000 567,945.92 567,945.92 567,945.92 5.77% 2 499,843.75 2.05% 7.39 FHLB 313395F67 01/08/97 360 01/08/96 100.0000 500,000.00 500,000.00 28,850.00 528,850.00 5.77% 5.77% Prudential Merrill 670.98 2 503,281.25 2.05% 7.38 FNMA 31354CVE6 01/16/97 360 01/16/98 99.8658 500,000.00 499,39.02 28,000.00 528,000.00 5.74% 5.25%60% 2 999,687.50 4.10% 9.55 FHLB 313393CX6 02/10/96 720 02/20/98 100.0000 1,000,000.00 1,000,000.00 105,000.00 1,105,000.00 5.25% 5.25% Banc One FHLMC 313400SR5 061497 209 03/11/98 99.7119 600,000.00 598,271.54 31,140.00 631,140.DO 5.70% 5.19°% 13,234.50 FSW 1,728.45 2 599,921.88 0.44% 1.18 FHLB 313400 Rv5 07/31/97 270 04!27198 99.7188 100,000.00 98,312.50 31,560.00 131,560.00 5.64% 5.26% 8,240.67 Banc One 1,687.50 299,203.13 FHLMC 313400UA9 06/13/97 259 04!9198 99.6880 300,000.00 299,064.00 15,930.00 315,930.00 5.76% 5.31% 4,602.00 Bane 936.00 ll 2 488,316.67 2.200% 3.61 FNMA 313589X)8 12/02/97 181 06/01/96 97.2247 500,000.00 486,123.33 13,876.67 500,000.00 5.76% Everen 2 484,111.10 1.99% 4.13 FNMA 313589)5 12/31/97 208 07/27/98 96.8684 500,000.00 484,342.2'2 15,657.78 500,000.00 5.65% Merrill 2 499,843.75 2.05% 7.38 FHLB 3133M1T74 10/23/97 360 10/23998 99.9420 500,000.00 499,710.00 28,500.00 528,500.00 5.76°% 5.70% 2 600,187.50 2.46% 9.80 FMB 313392033 09/29997 398 11/02/98 100.0000 600,000.00 600,000.00 52,380.00 652,380.00 5.81% 5.82% Merrill 2 499,453.13 2.05% 11.08 FHLB 3133M1542 10=197 540 06/30/99 1W.0000 6,16,945.92 6,133,098.54 400,47`7.78 6,538,889-33 23 5.78% 5.95% ,077.17 Evaren 5,312.93 0.00 subtotal 6,141,356.81 20.90°% 82.60 Subtotal Fund 4 LOGIC 4 27,770.76 0.11% 0.00 LOGIC WA 100.0000 27,770.76 27,770.76 27,770.76 6.58% Subtotal 27,770.76 27,770.76 0.00 27,770.76 6.58% 0.00 0.00 0.00 subtotal 27,770.76 0.11% 0.00 Fund 86 499,609.38 2.05°% 5.54 FHLB 313389HW 07/31/97 270 04/27/98 100.0000 500,000.00 500,000.00 500,000.00 5.64% 526% Banc One Fund LOGIC 8 347,353.80 1.43% 0.00 LOGIC WA 100.0000 317,353.80 347,353.80 347,353.80 6.58% FGIC B 362,923.63 1.4996 0.00 FGIC WA 100.0000 362,923.63 362,923.63 362,923.63 5.600% 8 340,106.25 1.49% 5.92 FHLB 313392D33 09929/97 398 11/02/96 100.0000 1 050,26.0420 1,050,0277.42 29,682.00 9,682.00 1,0 9,959.42 6.00% 5.82% .339.10,339.10 Merrill 0.00 0.00 subtotal 1,050,383.67 4.40% 5.92 Subtotal Fund 9LOGIC 9 8,584.63 0.04% 0.00 LOGIC WA 100.0000 8,584.63 8,584.63 8.564.63 8.58 100.0000 6,264.55 6,264.55 6,264.55 5.600% FGIC 9 6,264.55 0.03% 0.00 FGIC WA 6958.61 250,000.00 5.540% Merrill 9 248,638.75 1.00% 1.88 FNMA 313589SR5 07/31/97 188 02/04/98 97.2166 250,000.00 243,041.39 , 9 999,062,50 4.20% 38.81 FNMA 31364AZL9 12!01/95 924 06125/98 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 9 249,570.31 1.03% 11.08 FHLB 313392LI34 01/19/96 1080 01/19/99 100.0000 1650,x.00 1,499,609.32 43,646.101 1,720,536.88 585%293,387.50 5.79% 5.79% 23,443.33 Prudential 8,281.25 0.00 subtotal 1,512,120.74 6.29% 51.77 Subtotal Fund 12LOGIC 12 40,120.25 0.16% 0.00 LOGIC WA 100.0000 40,120.25 40,120.25 40,120.25 6.58% Fund 18LOGIC 16 41,961.73 0.17% 0.00 LOGIC WA 100.0000 41,961.73 41,961.73 41,961.73 6.58% Fund 17 LOGIC 17 470,471.24 1.93% 0.00 LOGIC WA 100.0000 470,471.24 470,471.24 470,471.24 5.54% Merrill 17 248,638.75 1.00% 1.88 FNMA 313589SR5 07/31/97 188 02/04/98 97.2166 250,000.24 713,512.62 6,958.61 720,40710.24 6.06% 0.00 0.00 0.00 subtotal 719,109.99 2.93% 1.88 Subtotal City of Euless { Investment by Fund As of December 31,1997 Investment Type Institution LOGIC Investment Pod FNMA Fed.Nat'l Mort.Assn. FHLB Fed.Home Loan Bank RALISCHER Rauscher Pierce BANCONE Banc One Capital Pruprog Prudential Mgmt Progam(through Gibraltar) • TBILL Treasury Bail FFCB Fed.Farm Credit Bank FMAC Fed.Horne Loan Mort Corp. PRUD Pnhdential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Finanadal Investors Trst 1st Comm First Comrnerdal MERRILL Menill Lynch Cost Accrued Inv Cusp Purchase Tenn Maturity, price per Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Market Of IM Num Doe n days) ate Per 100 Value (Pnn.Only) a Met,v Int A Mat v Nlahmh�t( e P rcha Inst. Discount Prernium and Value Porffolio WAM Fund 18 FB 313393DC1 02/20/96 1080 02/20/99 100.0000 500,000.00 500,000.00 63,100.00 583,100.00 5.54% 5.54% Prudential 18 498,125.00 2.05% 22.18 HL Fund 18 FHLB 313393DC1 02/20/96 1080 00/99 100.0000 500,000.00 500,000.00 83,100.00 583,100.00 5.54% 5.54% Prudential 19 498,125.00 2.05% 22.18 28 Fund 21 LOGIC WA 100.0000 426,512.27 426,512.27 426,512.27 6.56% LOGIC 21 426,51227 1.75% 0.00 FGIC WA 100.0000 56,750.86 56,750.86 56,750.86 5.6046 FGIC 21 56,750.86 0.23% 0.00 Subtotal 483,263.13 463,263.13 0.00 483,263.13 6.091/6 0.00 0.00 0.00 Subtotal 483,263.13 1.98% 0.00 Fund 22 LOGIC WA 100.0000 0.00 0.00 0.00 6.58% LOGIC 22 0.00 0.0096 0.00 Subtotal 0.00 0.00 0.00 0.00 8.58% 0.00 0.00 0.00 subtotal 0.00 0.00% 0.00 Fund 23 0.00 LOGIC WA 100.0000 0.00 0.00 0.00 6.58% LOGIC 23 0.00 0.00% Fund 24 LOGIC WA 100.0000 237,188.90 237,168.90 237,188.90 6.58% LOGIC 24 237,188.90 0.97% 0.00 FGIC WA 100.0000 64,621.49 64,621.49 64,621.49 5.60% FGIC 24 84,621.49 0.27% 0.00 Subtotal 301,810.39 301,810.39 0.00 301,810.39 6.09% 0.00 0.00 0.00 subtotal 301,810.39 1.24% 0.00 Fund 260.00 LOGIC WA 100.0000 27,620.05 27,820.05 0.00 27,620.05 8.58% LOGIC 26 27,620.05 0.11% FMPC 3134AUM 12/0356 420 01/27/96 99.5625 505,000.00 502,790.63 39,427.88 544,427.88 5.60% 5.21% 9,199.84 Pruprog 2,209.37 26 502,860.06 2.10% 8.83 Subtotal 532,620.05 530,410.67 39,427.88 572,047.92 6.09% 9,199.84 2,209.37 0.00 subtotal 5W,48D.11 2.21% 8.83 Fund 29 LOGIC WA 100.0000 428,213.90 428,213.90 428,213.90 6.58% LOGIC 29 428,213.90 1.78% 0.00 Fund 32 LOGIC WA 100.0000 0.00 0.00 0.00 6.58% LOGIC 32 0.00 0.0096 0.00 Fund 34 LOGIC WA 100.0000 194,782.42 194,782.42 0.00 194,782.42 6.58% LOGIC 34 194,762.42 0.80% 0.00 FGIC WA 100.0000 43,080.99 43,080.99 0.00 43,080.99 5.60% FGIC 34 43,080.99 0.18% 0.00 CD 0483/97 365 04/23/98 100.0000 5,000.00 5,000.00 250.00 5,250.00 5.00% 5.00% Lndrrrk 34 5.000.00 0.02% 0.07 Subtotal 242,863.41 242,863.41 250.00 243,113.41 5.73% 0.00 0.00 0.00 subtotal 242,863.41 1.00% 0.07 Fund 36 LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.58% LOGIC 35 0.00 0.00% 0.00 Fund 36 0.00 LOGIC WA 100.0000 201,341.73 201,341.73 0.00 201,341.73 6.58% LOGIC 36 201,341.73 0.83% Fund 38 LOGIC WA 100.0000 419,395.94 419,395.94 419,395.94 6.58% LOGIC 39 419,395.94 1.72% 0.00 Fund 40 LOGIC WA 100.0000 594,687.65 694,687.65 594,687.55 6.58% LOGIC 40 594,687.65 2. 0.00 FHLB 01/19/96 1080 01/19/99 100.0000 750,000.00 750,000.00 130,162.50 880,162.50 5.79% 5.79% Prudential 40 748,710.94 3.008%8% 33.25 90.62 289,909.38 1. FHLB 313WNH6 1284/97 540 06/24/99 99.9688 290,000.00 289,909.38 26,339.25 316,339.25 6.08% 6.055% 0 Everen 90.62 0.00 subtotal 1,833,307.97 8.19% 39.67 6.43 Subtotal 1,634,687.65 1,634,59203 156,501.75 1,791,189.40 6.15% Fund 60 LOA 100.0000 160,588.05 160,586.05 0.00 160,586.05 6.581% LOGIC 50 160,588.05 0.68% 0.00 GIC W FGIC WA 100.0000 0.00 0.00 0.00 0.00 5 % FGIC 50 0.00 0.00°% 0.00 .60 Merrill 50 490,672.90 1.97% 5.39 FHLB 313385WF9 07/31/97 274 05/01/98 95.9357 500,000.00 479,678.33 20,321.67 500,000.00 5.59°% Subtotal 660,586.05 640,264.38 20,321.67 660,586.05 5.92% 0.00 0.00 0.00 subtotal 651,258.95 2.63% 5.39 City of Euless Investment by Fund As of December 31,1997 Investment Type Institution LOGIC Investment Pod FNMA Fed.NaYI Mat.Asso. FHLB Fed.Home Loan Bank RAUSCHER Rauscher Pierce BPNCONE Banc One Capital Pruprog Prudential Wrnt Progam(through Gibraltar) TBILL Treasury B91 FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mat.Corp. PRUD Prudential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurduase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Finanacial Investors Trst 1st Comm First Comrnerdal MERRILL Merrill Lynch Cost Accrued Inv. Cusip Purchase Terre Matirity, - Price Par Bods Value Interest Total Prin.+ Yield To Coupon Interest Seller Market %of Tuve Number Data in Date Per 100 Value (Priv.Only) (M nw Int.0 NW Matun Rate Purchased Inst. Discount Premum Fund Value Portfolio WPM Fund 61 LOGIC W 4 A 100.0000 306,006.26 306,006.26 0.00 306,006.26 6.58% LOGIC 51 306,006.26 .26% 0.00 FGIC WA 100.0000 1,022,394.19 1,022,394.19 0.00 1,022,394.19 5.60% FGIC 51 1,022,394.19 4.20% 0.00 Subtotal 1,328,400.45 1,328,400.45 0.00 1,328,400.45 6.09% 0.00 0.00 0.00 subtotal 1,328,400.45 5.45% 0.00 Fund 63 FGIC WA 100.0000 948,650.53 948,650.53 0.00 948,650.53 6.580/0 LOGIC 53 948,650.53 3.89% 0.00 Fund 64 LOGIC WA 100.0000 611,721.05 611,721.05 0.00 611,721.05 6.58% LOGIC 54 811,721.05 2.51% 0.00 TOTAL 24,340,666.46 24,236,896.72 1,314,860.37 26,673,981.24 119,703.39 23,226.12 0.00 TOTAL 24,272,413.67 95.62% 316.68 City of Euless Investment by Fu As of March 31,1998 Investment Type Institution LOGIC Investment Pool FNMA Fed.Nat'l Mort.Asso. FHLB Fed.Home Loan Bank RAUSCHER Rauscher Pierce BANCONE Banc One Capital Pruprog Prudential Mgmt Progam(through Gibraltar) TBILL Treasury Bill FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mort.Corp PRUD Prudential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Financial Investors Tr!1 st Comm First Commercial MERRILL Merrill Lynch Cost Accrued Inv. Cuslp Purchase Tenn Maturity Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Markel %of Type Number Date in clays Date Per$100 Value (Prin.Only) mat' Int.Q Mat'v Maturity Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM Fund 1 LOGIC WA 100.0000 31,541.09 31,541.09 31,541.09 6.01% LOGIC 1 31,541.09 0. FNMA 313589XG3 12/02/97 175 05/26/98 97.3215 500,000.00 486,607.64 13,392.36 5 ,000.00 5.74% Merrill 1 495,761.10 1.668%8% 2.95 00 FNMA 313589ZH9 0110958 186 07/14/98 97.3313 500,000.00 486,656.25 13,343.75 500,000.00 5,47% Merrill 1 492,052.09 1.68% 3.13 FNMA 31364AC75 10/15/97 311 08/26/98 99.5000 500,000.00 497,500.00 25,800.00 525,800.00 5.75% 5.16% 3,511.67 FSW 2,500.00 1 499,531.25 1.73% 5.39 FHLB 313389VK1 01/02198 247 09/09/98 99.4422 500,000.00 497,210.78 23,925.00 523,925.00 5.61% 4.79% 7,509.79 FSW 2,789.22 1 498,671.88 1.75% 4.31 FNMA 31364AE65 12/31/97 271 09/28/98 99.4375 500,000.00 497,187.50 24,600.00 524,600.00 5.69% 4.920% 6,355.00 1st Comm 2,812.50 1 498,750.00 1.74% 4.72 FHLB 3133MIT74 10123/97 360 10/23198 99.9420 500,000.00 499,710.00 28,500.00 528,500.00 5.76% 5.70% Merrill 290.00 1 500,390.63 1.73% 6.22 FNMA 31364AG97 02/10/98 265 11102/98 99.9200 1,000,000.00 999,200.00 54,200.00 1,054,200.00 5.52% 5.42% 14,754.44 FSW 800.00 1 999,531.25 3.51% 9.30 0.00 0.00 0.00 0.00 5.54% 5.54% 15,542.78 Prudential 1 0.00 0.05% 0.58 FHLB 313393DC1 02/20/98 1080 02/20/99 100.0000 5 00 561% 556% 30889 Banc On 468.75 1 999,216.70 3.46% 12.36 FHLB 3133M3R72 03/27/98 358 03/25/99 99.9531 1,000,000.00 999,531.25 55,600.00 1,05 ,600. . . . FHLB 3133M1542 10/30/97 540 06/30/99 100.0000 500,000.00 500,000.00 49,583.33 549,583.33 5.93% 5.95% Everen 1 500,158.25 1.73% 9.34 FHLB 3133M2W86 0120/98 540 07/20199 100 00 .0000 5 ,000.00 500,000.00 42,000.00 542,000.00 5.60% 5.60% Everen 1 498,750.00 1.73% 9.34 Subtotal 6,031,541.09 5,995,144.50 330,944.44 6,335,749.42 5.69% 47,962.57 9,660.47 0.00 subtotal 6,014,354.23 20.91% 67.67 Fund 2 LOGIC WA 100.0000 6,262.16 6,262.16 6,262.16 6.01% LOGIC 2 6,262.16 0.02% 0. 98,312.50 31,560.00 131,560.00 5.64% 5.26% 8,240.67 Banc One 1,687.50 2 100,015.63 0.37% 1.00 FHLB 313389HM3 07/31197 270 04/27/98 99.7188 100,000.00 5.75% 5 FHLMC 313400UA9 081IM7 259 0429M 99.6880 300,000.00 299,064.00 15,930.00 315,930.00 .31% 4,602.00 Banc One 936.00 2 299,859.38 1.05% 2.72 FNMA 313589XN8 12/02/97 181 06!01/98 97.2247 50,000.00 486,123.33 13,876.67 500,000.00 5.76% Merrill 2 495,306.94 1.68% 3.04 FNMA 313589ZW6 12/31/97 212 07/27/98 96.8684 500,000.00 484,342.22 15,657.78 500,000.00 5.65% Everen 2 491,068.08 1.88% 3.55 FNMA 313589ABB 01102/98 216 08/06/98 96.7660 500,000.00 483,830.00 16,170.00 500,000.00 5.62% Everen 2 490,364.25 1.67% 3.62 FNMA 313589G23 03/19/98 162 09117/98 97.3206 500,000.00 486,602.78 13,397.22 500,000.00 5.52% FSW 2 487,250.00 1.68% 3.06 FHLB 3133MIT74 10123/97 360 10/23/98 99.9420 50,000.00 499,710.00 28,500.00 528,500.00 5.76% 5.70% Merrill 290.00 2 500,390.63 1.73% 6.22 FHLB 3133921333 0929!97 398 11102/98 100.0000 600,000.00 600,000.00 52,380.00 652,380.00 5.81% 5,82% Merrill 2 600,468.75 2.08% 8.26 FHLB 313395CMS 0123198 337 12/30/98 100.2891 500,000.00 501,445.31 28,750.00 528,750.00 5.42% 5.751A 1,836.81 Banc One 0.00 1,445.31 2 500,234.38 1.74% 5.87 FNMA 31364DD0S 012758 362 01124/99 94.7422 500,000.00 473,710.94 26,289.06 500,000.00 5.52% Merrill2 488,556.90 1.64% 5.93 999,375.00 55,500.00 1,055,500.00 5.61% 5.55% 3,083.33 Banc On 625.00 2 998,906.25 3.47% 11.79 FNMA 31359CAM7 03/0258 340 02/12/98 99.9375 1,000,000.00 5.95% E FHLB 3133M1542 10/3057 540 06/30/99 100.0000 500,000.00 500,000.00 49,583.33 549,583.33 5.93% Everen 2 500,156.25 1.73% 9.34 FHLB 3133M2W86 01120/98 540 07/20/99 100.0000 500,000.00 500,000.00 42,000.00 542,000 5.60% 5.60% Everen 2 498,750.00 1.73% 9.34 00. Subtotal 6,506,262.18 6,418,778.24 389,594.06 6,810,465.49 5.69% 17,762.81 3,538.50 1,445.31 subtotal 6,457,589.56 22.27% 73.75 Fund 4 0.00 LOGIC NIA 100.0000 233,066.04 233,066.04 233,066.04 6.01% LOGIC 4 233,066.04 0.81% 0.00 0.00 0.00 subtotal 233,066.04 0.81% 0.00 Subtotal 233,066.04 233,066.04 0.00 233,066.04 6.01% Fund 6 FHLB 313389HM3 0713157 270 0412758 100.0000 50,000.00 500,000.00 500,000.00 5.64% 5.26% Banc One 6 500,078.13 1.73% 4.6 Fund 8 0.00 101,722.70 6.01°6 LOGIC 8 101,722.70 0.35% LOGIC WA 100.0000 101,722.70 101,722.70 FGIC WA 100.0000 0.00 0.00 0.00 5.49% FGIC 8 0.00 0.00% 0.00 29,682.00 369,682.00 5.81% 5.82% 22,339.10 Merrill 8 340,265.63 1.25% 4.99 FHLB 313392033 092957 398 11102/98 100.0000 340,000.00 340,000.00 FNMA 31364FML2 01/1258 720 01/12/00 99.9060 500,000.00 499,060.00 56,000.00 556,000.00 5.65% 5.60% Merrill 940.00 8 498,906.25 1.73% 12.43 Subtotal 941,722.70 940,782.70 85,682.00 11027,404.70 5.74% 22,339.10 94000 0.00 subtotal 940,894.58 3.33% 17.42 Fund 9 LOGIC NIA 100.0000 9,651.04 9,651.04 9,651.04 6.01% LOGIC 9 9,651.04 0.03% 0.00 0.00 5.49% FGIC 9 0.00 0.00% 0.00 FGIC NIA 100.0000 0.00 0.00 FNMA 31364AZL9 12/01195 924 0612558 99.1719 1,000,000.00 991,718.75 162,300.00 1,162,300.00 5.76% 5.41% 23,443.33 Rauscher 9 999,843.75 3.54% 32.72 FHLB 313392U34 01/19/96 1080 01/19/99 100.0000 250,000.00 250,000.00 43,387.50 293,387.50 5.79% 5.79% Prudential 9 250,078.13 0.4 9.34 Subtotal 1,259,651.04 1,251,369.79 205,687.50 1,465,338.54 5.76% 23,443.33 000 0.00 subtotal 1,259,572.92 4.44% 42.08 4% Fund 12 LOGIC WA 100.0000 101,104.68 101,104.68 101,104.68 6.01% LOGIC 12 101,104.68 0.35% 0.00 Fund 16 LOGIC WA 100.0000 5,887.09 5,887.09 5,887.09 6.01% LOGIC 16 5,887.09 0.02% 0.00 City of Euless Investment by Fund As of March 31,1998 Institution Investment Type . .Asso. RAUSCHER Rauscher Pierce BANCONE Banc One Capital Pruprog Prudential Mgmt Progam(through Gibraltar) LOGIC Investment Pool FNMA FedNat'l Mort FHLB Fed.Home Loan Bank TBILL Treasury Bill FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mort.Corp. FGIC Finanacial Investors Tra 1st Comm First Commercial MERRILL Merrill Lynch Prudential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC _ Cost Accrued Inv. Cusip Purchase Term Maturity Price Par Book Value Interest Total Phn.+ Yield To Coupon Interest Seller Market %of Type Number Date in days Date Per 100 Value Prin.Onlymat' Int.A Mat'v Maturit Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM Fund 17 527,429.68 6.01% LOGIC 17 527,429.68 1.82% 0,00 LOGIC N/A 100.0000 527,429.68 527,429.68 0.00 527,429.68 6.01% 0.00 0.00 0.00 subtotal 527,429.68 1,82% 0.00 Subtotal 527,429.68 527,429.68 Fund 18 500,000.00 83,100.00 583,100.00 5.54% 5.54% Prudential 18 499,375.00 1.73% 18.68 FHLB 313393DC1 02/20/96 1060 02/20/99 100.0000 500,000.00 Fund 19 P20/99 100.0000 500,000.00 500,000.00 83,100.00 583,100.00 5.54% 5.54% Pudendal 19 499,375.00 1.73% 18,68 FHLB 313393DCI 02/20196 1080 02 Fund 2121 179,951.58 0.62% 0.00 LOGIC N/A 100.0000 179,951.58 179,951.58 179,951.58 6.01% LOGIC FGIC NIA 100.0000 0.00 0.00 0.00 5.49% FGIC 21 0.00 0.00% 0.00 Subtotal 179,951.58 179.951.58 0.00 179,951.58 575% 0,00 0.00 0.00 Subtotal 179,951.58 0.62% 0.00 Fund 22 LOGIC 0.00 LOGIC N/A 100.0000 0.00 0.00 0.00 6.01% 22 0.00 0.00% Subtotal 0.00 0.00 0.00 0.00 6 01% 0.00 0.00 0.00 subtotal 0.00 0.00% 0.00 Fund 23 LOGIC 0.00 0.00 6.01% 23 0.00 0.00% LOGIC N/A 100.0000 0.00 0.00 Fund 24 LOGIC 00 LOGIC WA 100.0000 240,662.96 240,662.96 240,662.96 6.01% 24 240,662.96 0.83% 0. FGIC N/A 100.0000 0.00 0.00 0.00 5.49% FGIC 24 0.00 0.00% 0.00 Subtotal 240,662.96 240,662.96 0.00 240,662.96 5.75% 0.00 000 0.00 subtotal 240,662.96 0.83% 0.00 Fund 28 4,404,774.81 4,404,774.81 0.00 4,404,774.81 6.01% LOGIC 26 4,404,774.81 15.24% 0.00 LOGIC N/A 100.0000 4,404,774.81 4,404,774.81 0.00 4,404,774.81 6.01% 0.00 0.00 O.DO subtotal 4,404,774.81 15.24% 0.00 Subtotal Fund 2828 1,039,321.02 3.60% 0.00 LOGIC N/A 100.0000 1,039,321.02 1,039,321.02 1,039,321.02 6.01% LOGIC Fund 29 LOGIC 29 333,022.42 1,15% 0.00 LOGIC N/A 100.0000 333,022.42 333,022.42 333,022.42 6.01% Fund 32 0.00 6.01% LOGIC 32 0.00 0.00% 0.00 LOGIC N/A 100.0000 0.00 0.00 Fund 34 0.00 45,928.13 6,01% LOGIC 34 45,928.13 0.16% 0.00 LOGIC WA 100.0000 45,928.13 45,928.13 5 0.00 0.00 5.49% FGIC 34 0.00 0.00% 0.0 FGIC N/A 100.0000 0.00 0.00 5.00% 5.00% 6 CD 04/23/97 365 04/23/98 100.0000 5,000.00 5,000.00 250.00 5,250.00 Lndmrk 34 5,000.00 0.02% 0,06 0 0.00 0.00 subtotal 50,928.13 0.18% 0.06 Subtotal 50,928.13 50,928.13 250.00 51,178.13 5.50% 0.0 Fund 35 0.00 0.00 0.00 6.01% LOGIC 35 0.00 0.00% LOGIC N/A 100,0000 0.00 0.00 Fund 38 LOGIC 36 0.00 0.00% 0.00 LOGIC N/A 100.0000 0.00 0.00 0.00 0.00 6.01 Fund 39 LOGIC 39 251,125.01 0,87% 0.00 LOGIC N/A 100.0000 251,125.01 251,125.01 251,125.01 6.01 City of Eule Investment by As of March 31,1by8 Investment Type Institution LOGIC Investment Pool FNMA Fed.Nat'l Mort.Asso. FHLB Fed,Home Loan Bank RAUSCHER Rauscher Pierce BANCONE Banc One Capital Pruprog Prudential Mgmt Progam(through Gibraltar) TRILL Treasury Bill FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mort.Corp PRUD Prudential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurchase Agreement TNOTE Treasury Nota CD Certificate of Deposit FGIC Finanacial Investors Tr<1 at Comm First Commercial MERRILL Merrill Lynch Cost Accrued Inv. Cusip Purchase Tenn Maturity Price Per Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Market °h of Tie Numbe Date in days Date Per 1 QO Value (Prin.Only) 0 mat' Int.(M Maty Maturity Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM Fund 40 LOGIC N/A 100.0000 97,684.92 97,684.92 97,684.92 6.01% LOGIC 40 97,684.92 0.34% 0.00 FHLB 01/19/96 1080 01/19/99 100.0000 750,000.00 750,000.00 130,162.50 880,162.50 5.79% 5.79% Prudential 40 750,234.38 2.59% 28.02 FHLB 313M2NH6 12/24/97 540 06/24/99 99.9688 290,000.00 289,909.38 26,339.25 316,339.25 6.08% 6.055% Everen 90.62 40 289,909.38 1.00% 5.42 FNMA 31364FML2 01/12/98 720 01/12/00 99.9060 500,000.00 500,000.00 56,000.00 556,000.00 5.65% 5.60% Merrill 40 498,906.25 1.73% 12.45 Subtotal 1,637,684.92 1,637,594.30 212,501.75 1,850,186.67 5.88% 0.00 90.62 0.00 subtotal 1,636,734.92 5.67% 45.89 Fund 50 LOGIC N/A 100.0000 202,400.54 202,400.54 0.00 202,400.54 6.01% LOGIC 50 202,400.54 0.70% 0.00 FGIC N/A 100.0000 0.00 0.00 0.00 0.00 5.49% FGIC 50 0.00 0.00% 0.00 FHLB 313385WF9 07/31/97 274 05/01/98 95.9357 500,000.00 479,678.33 20,321.67 500,000.00 5.59% Merrill 50 497,653.47 1.66% 4.55 Subtotal 702,400.54 682,078.87 20,321.67 702,400.54 5.70% 0.00 000 0.00 subtotal 700,054.01 2.36% 4.55 Fund 51 LOGIC N/A 100.0000 259,755.93 259,755.93 0.00 259,755.93 6.01% LOGIC 51 259,755.93 0.90% 0.00 FGIC WA 100.0000 459,817.97 459,817.97 0.00 459,817.97 5.49% FGIC 51 459,817.97 1.59% 0.00 FNMA 313589yYZ0 01/02/98 185 07/06/98 97.2147 500,000.00 486,073.61 13,926.39 500,000.00 5.65% Merrill 51 492,657.65 1.68% 3.11 Subtotal 1,219,573.90 1,205,647.51 13,926.39 1,219,573.90 5.71% 0.00 0.00 0.00 subtotal 1,212,231.55 4.17% 311 Fund 53 FGIC N/A 100.0000 965,005.25 965,005.25 0.00 965,005.25 601% LOGIC 53 965,005.25 3.34% 0.00 Fund 54 LOGIC NIA 100.0000 622,136.61 822,136.61 0G 822,13661 6.01% LOGIC 54 822,136.61 2.84% 0.00 TOTAL 28,953,251.63 28,785,811.19 1,425,107.81 30,231,984.54 111,527.81 14,229.59 1,445.31 TOTAL 28,874,675.16 100.00% 296.54 City of Euless Schedule of Purchases For January 1998 Investment Type Institution LOGIC Investment Pod FNMA Fed.WWI Mort.Asso. FHLB Fed.Home Loan Bank PRUD ER Rauscher Reece BANCONE Banc One Capital LNDM g Prudential Mgmt Pro9em(through Gibraltar) TRILL Treasury Bill FFCB Fed.Farm Credit Bank FMAC Fed.Hone Loan Mat.Corp_ PRIC Prudential InvestSecuritors FSW First Southwest LNDMRK Landmark Bank REPO Reperchase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Finanadal Investors Test 1st Comm First Commercial MERRILL Menill Lynch Accrued Total P+I Cost � Coupon Interest Seller Ma['y Net of Total Cost Inv. Cusip Purchase Term Maturity Price Par Book Value Interest Total Yield To Nunba [fie in d Date Per 100 Value Prin. N M rpm, +Int Maturity Rate Purchased Inst. Discount Premum Fund Prem,Disc&Int Pi of 1486,0ta. Type FNMA 313589yYZ0 01102/98185 07/06/98 97.2147 500,000.00 486,073.61 13,926.39 500,000.00 5.85% Menill 51 500,000.00 486,073.61 FNMA 313589AM 01/02198 216 OB/06M 96.7860 500,000.00 483,830.00 16,170.00 500,000.00 5.62% Everen 2 500,000.00 483,830.00 FHLB 313389VK00 1 01/02/98 247 09/09/98 99.4422 5 ,000.00 497,210.78 23,925.00 523,925.00 5.61% 4.79°/6 7,509.79 FSW 2,789.22 1 518,415.21 504,720.57 FGIC WA 0t/08/98 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.58% FGIC 1 500,000.00 500,000.00 FGIC WA 01/09/98 100.0000 500.000.00 500,000.00 0.00 500,000.00 5.58% FGIC 4 500,000.00 500,000.00 FNMA 313589ZH9 01/09/98 186 07/14/98 97.3313 500,000.00 486,656.25 13,343.75 500,000.00 5.47% Mandl 1 500,000.00 488,856.25 FNMA 31364FML2 01/12/96 720 01/12/00 99.9060 1,000,000.00 999,060.00 112,000.00 1,112,000.00 5.65% 5.60% Merrill 940.00 8,40 1,112,000.00 999,060.00 FHLB 3133WOM 0120/98 540 07/20/99 100.0000 1,000,000.00 1,000000.00 84,000.00 1,084,000.00 5.60°/6 5.600/6 E.eren 1,2 1,084,000.00 1,000,000.00 FNMA 31364BAE0 01122/98 32 02/23198 100.1875 1,000,000.00 1,001,875.00 39,450.00 1,039,450.00 5.52% 7.89% 32,655-83 FSW 0.00 1,875.00 1 1,004,919.17 1,034,530.83 FMB 313395CM5 0123/98 337 12/30/98 100.2891 500,000.00 501,445.31 28,750.00 528,750.00 5.42% 5.75% 1,836.81 Banc One 0.00 1,445.31 26 525,467.88 503,282.12 FNMA 31364DDD5 0127/98 362 0124/99 94.7422 500,000.00 473,710.94 26,289.06 500,000.00 5.52% Merrill 2 500,000.00 473,710.94 LOGIC WA 0128198LOGIC 4 600,000.00 600.000.00 100.0000 600,000.00 600,000.00 0.00 800.000.00 5.61 FGIC WA 01129/96 100.0000 150,000.00 150,000.00 0.00 150,000.00 5.55% FGIC 53 150,000.00 150,000.00 TOTALS: 7,750,00000 7,679,861.89 357,854.20 8,038,125.00 5.57% 42,002.43 3,729.22 3,320.31 7,992,802.26 7,721,864.32 LOGIC DIVIDENDS REINVESTED 22,606.71 22,606.71 FGIC DIVIDENDS REINVESTED 8,417.02 8,417.02 City of s Schedule uses ` For Februa,y 1998 Investment Type Institution • LOGIC Investment Pool FNMA Fed.Nat'l Mort.Asso. FHLB Fed,Home Loan Bank RAUSCHER Rauscher Pierce BANCONE Banc One Capital Pruprog Prudential Mgmt Progam(through Gibraltar) TRILL Treasury Bill FFCB Fed,Farm Credit Bank FMAC Fed,Home Loan Mort.Corp. PRUD Prudential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Finanacial Investors Trst 1st Comm First Commercial MERRILL Merrill Lynch Cost Accrued Total P+I @ Inv. Cusip Purchase Term Maturity Price Per Book Value Interest Total Yield To Coupon Interest Seller Mat'y Net of Total Cost Type Number Date Cin days) Date Per 100 Value (Prin.Only) 0 mat'y Prin+Int Maturit Rate Purchased Inst. Discount Premium Fund Prem Disc&Int Pr of Investment LOGIC N/A 02/04/98 100.0000 600,000.00 600,000.00 0.00 600,000.00 5.48% LOGIC Various 600,00000 600,000.00 FGIC N/A 02/04/98 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.54% FGIC Various 500,000.00 500,000.00 FNMA 31364AG97 02/10/98 265 11/02/98 99.9200 1,000,000.00 999,200.00 54,200.00 1,054,200.00 5.52% 542% 14,754.44 FSW 800.00 1 1,039,445.56 1,013,954.44 LOGIC N/A 02/20/98 100.0000 2,100,000.00 2,100,000.00 0.00 2,100,000.00 5.47% LOGIC Various 2,100,000.00 2,100,000.00 LOGIC N/A 02/23/98 100.0000 1,039,450.00 1,039,450.00 0.00 1,039,450.00 5.51% LOGIC Various 1,039,450.00 1,039,450.00 LOGIC N/A 02/27/98 100.0000 200,000.00 200,000.00 0.00 200,000.00 5.60% LOGIC Various 200,000.00 200,000.00 TOTALS 5,439,450.00 5,438,650 00 54,200.00 5,493,650.00 5.52% 14,754 44 800.00 0.00 5,478,895.56 5,453,404.44 LOGIC DIVIDENDS REINVESTED 19,219.88 19,219.88 FGIC DIVIDENDS REINVESTED 5,511.06 5,511.06 City of Euless Schedule of Purchases For March 1998 Investment Type Institution LOGIC Investment Pool FNMA Fed.Nat'l Mort.Asso. FHLB Fed.Home Loan Bank RAUSCHER Rauscher Pierce BANCONE Banc One Capital P uprog Prudential Mgmt Progam(through Gibraltar) TBILL Treasury Bill FFCB Fed,Farm Credit Bank FMAC Fed.Home Loan Mort.Corp. PRUD Prudential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Finanacial Investors Trst 1st Comm First Commercial MERRILL Merrill Lynch Cost Accrued Total P+I(l� Irn. Cusip Purchase Tenn Maturity Price Par Book Value Interest Total Yield To Coupon Interest Seller Mat'y Net of Total Cost Number Date in da Date Per 100 Value (Prin.Only? mat' Prin+Int MaturityRate Purchased Inst. Discount Premium Fund Prem Disc&Int Pi of Investment Type FNMA 31359CAM7 03/02/98 340 02/12/96 99.9375 1,000,000.00 999,375.00 55,500.00 1,055,500.00 5.61% 5.55% 3,083.33 Banc One 625.00 2 1,052,416.67 1,002,458.33 LOGIC N/A 03/11/98 100.0000 1,400,000.00 1,400,000.00 0.00 1,400,000.00 5.45% LOGIC Various 1,400,000.00 1,400,000.00 FNMA 313589G23 03/19/98 182 09/17/98 97.3206 500,000.00 486,602.78 13,397.22 500,000.00 5.52 FSW 2 500,000.00 486,602.78 FHLB 3133M3R72 03/27/98 358 03/25/98 99.9531 1,000,000.00 999,531.25 55,600.00 1,055,600.00 5.61% 5.56% 308.89 Banc One 468.75 1 1,055,291.11 999,840.14 LOGIC N/A 03/31/98 100.0000 5,443,200.00 5,443,200.00 0.00 5,443,200.00 6.01% LOGIC Various 5,443,200.00 5,443,200.00 TOTALS: 9,343,200.00 9,328,709.03 124,497.22 9,454,300.00 5.64% 3,392.22 1,093.75 0.00 9,450,907.78 9,332,101.25 LOGIC DIVIDENDS REINVESTED 22,972.59 22,972.59 FGIC DIVIDENDS REINVESTED 6,208.91 6,208.91 • Oty of Euless Schedule of Maturities For January 1998 , Investment Type Institution LOGIC Investment Pod FNMA Fed.Nat'l Mort Asso. FHLB Fed.Home Loan Bank RAUSCHER Rauscher Pierce BANCONE Banc One Capital Pruprog Prudential%Vrfit Progam(through Gibraltar) TBILL Treasury till FFCB Fed.Farm Credit Bank FIAW- Fed.Home Loan Mort.Corp. PRUD Prudential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Financial Investors Trst 1st Comm First Commercial MERMLL Merrill Lynch Tenn to Cost Accrued Total P+I Inv. Cusip Purchase Maty/Call Mat'y/Call Price Par Book Value Interest Total Prin.+ Yeld To Coupon Interest Seller Met'y or call Net of Total Cost Type rAi Datain( days Date Per$100 Value (Prin.Only) CM mat'v/Call Int 61 Mat' Maturity Rate Purchased Inst. Discount Premium Fund Prem&Int Pur. of investment LOGIC WA 01/02/98 100.0000 600,000.00 600,000.00 0.00 600,000.00 LOGIC Various 600,000.00 600,000.00 LOGIC WA 01/02/98 100.0000 250,000.00 250,000.00 0.00 250,000.00 LOGIC Various 250,000.00 250,000.00 FHLB 313395F67 0110857 360 01/08/98 100.0000 500,000.00 500,000.00 28,850.00 528,850.00 5.77% 5.77% Prudential 2 528,850.00 500,000.00 FGIC WA 01/12/98 100.0000 1,400,OD0.00 1,410,000.00 0.00 1,400,000.10 5.56% FGIC Various 1,400,000.00 1,400,000.00 LOGIC WA 01/15/98 100.0000 200,000.00 200,000.00 0.00 200,000.00 5.53% LOGIC Varian 200,000.00 200,000.00 FNMA 31364CNE6 01/16/97 360 01/1658 99.8658 500,000.00 499,329.02 28,000.00 528,000.00 5.74% 5.60% Merrill 2 528,000.00 499,329.02 FGIC WA 01/20/98 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 5.57% FGIC Various 1,000,000.00 1,000,000.00 LOGIC WA 01/22/98 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 LOGIC Various 1,000,000.00 1,000,000.00 FGIC WA 01/23/98 100.0000 350,000.00 350,000.00 0.00 350,000.00 5.52% FGIC Various 350,000.00 350,000.00 FMAC 3134AOTT9 12/03198 420 01/27/98 99.5625 505,000.00 502,790.63 39,427.88 544,427.88 5.60% 5.21% 9,199.84 Merrill 2,209.37 26 535,228.04 511,990.47 TOTAL. 6,305,000.00 6,302,119.65 96,277.88 6,401,277,88 5.61% 9,199.84 2,209.37 0.00 6,392,078.04 6,311,319.49 City of Euless Schedule of Maturities For February 1998 Investment TypeInstitution LOGIC Investment Pool FNMA Fed.Nat'l Mort.Asso. FHLB Fed.Home Loan Bank RAUSCHER Rauscher Pierce BANCONE Banc One Capital Pruprog Prudential Mgmt Progam(through Gibraltar) TBILL Treasury Bill FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mort.Corp. FGIC Prudential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Finanacial Investors Trst 1st Comm First Commercial MERRILL Merrill Lynch Cost Accrued Total P+I Term to Mat'y or call Net of Total Cost Inv. Cusip Purchase Mat'y/Cali Maty/Call Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Nurn Date in days) Date Per 100 Value (Prin.Only) CSD mat'v/Call Int.a Mat'v Maturity Rate Purchased Inst. Discount Premium Fund Prem&Int Pur. of Investment Type LOGIC N/A 02/03/98 100.0000 400,000.00 400,000.00 0.00 400,000.00 5.48% LOGIC 4 400,000.00 400,000.00 FNMA 313589SR5 07/31/97 188 02/04/98 97.2166 500,000.00 486,082.78 13,917.22 500,000.00 5.55% Merrill 9,17 500,000.00 486,082.78 LOGIC N/A 02/10/98 100.0000 1,200,000.00 1,200,000.00 0.00 1,200,000.00 5.46% LOGIC Various 1,200,000.00 1,200,000.00 FHLB 313385TA4 12/19/97 56 02/13/98 99.1242 500,000.00 495,621.11 4,378.89 500,000.00 5.76% Everen 1 500,000.00 495,621.11 LOGIC N/A 02!17/98 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.41% LOGIC Various 500,000.00 500,000.00 FHLB 313393CX6 02/201% 720 02/20/98 100.0000 2,000,000.00 2,000,000.00 210,000.00 2,210,000.00 5.25% 5.25% Banc One 1,2 2,210,000.00 2,000,000.00 FNMA 31364BAE0 01/22/98 32 02/23/98 100.1875 1,000,000.00 1,001,875.00 39,450.00 1,0391450.00 5.52% 7.89% 32,655.83 FSW 1,875.00 1,4 1,004,919.17 1,034,530.83 LOGIC NIA 02/24/98 100.0000 300,000.00 300,000.00 0.00 300,000.00 5.50% LOGIC 2 300,000.00 300,000.00 TOTAL 6,400,000.00 6,383,578.89 267,746.11 6,649,450.00 5.49% 32.65583 0.00 1,875.00 6,614,919.17 6,416,234.72 s City 3 Schedule! .cities For March 1998 Institution Investment Type LOGIC Investment Pool FNMA Fed,Nat'l Mort.Asso. FHLB Fed.Home Loan Bank RAUSCHER Rauscher Pierce BANCONE Banc One Capital Pruprog Prudential Mgmt Progam(through Gibraltar) TBILL Treasury Bill FFCB Fed.Fane Credit Bank FMAC Fed.Home Loan Mort.Corp PRUD Prudential Securities FSW First Southwest LNDMRK Landmark Bank REPO Repurchase Agreement TNOTE Treasury Note CD Certificate of Deposit FGIC Finanacial Investors Trst 1st Comm First Commercial MERRILL Merritt Lynch Term to Cost Accrued Total P+I Inv, Cusip Purchase Mat'y/Call Mat'y/Call Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Mat'y or call Net of Total Cost lype Number Date in days) Date Per 100 Value (Prin.Only) (M maty/Call Int.(®Mafy Maturity Rate Purchased Inst. Discount Premium Fund Prem 8 Int Pur. of Investment LOGIC NIA 03/02/98 100.0000 1,500,000.00 1,500,000.00 0.00 1,500,000.00 5.61% LOGIC Various 1,500,000.00 1,500,000.00 LOGIC NIA 03/03/98 100.0000 200,000.00 200,000.00 0.00 200,000.00 5.61% LOGIC Various 200,000.00 200,000.00 FHLMC 313400SR5 08114!97 209 03/11/98 99.7119 1,200,000.00 1,196,543.09 62,280.00 1,262,280.00 5.70% 519% 26,469.00 FSW 3,456.91 1,2 1,235,811.00 1,223,012.09 LOGIC N/A 03/17/98 100.0000 700,000.00 700,000.00 0.00 700,000.00 5.40% LOGIC Various 700,000.00 700,000.00 LOGIC N/A 03/19/98 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.46% LOGIC Various 500,000.00 500,000.00 LOGIC N/A 03/27198 100.0000 900,000.00 900,000.00 0.00 900,000.00 5.46% LOGIC Various 900,000.00 900,000.00 LOGIC N/A 03/31/98 100.0000 300,000 00 300,000.00 0.00 300,000.00 6 01% LOGIC Various 300,000.00 300,000.00 TOTAL. 5,300,000.00 5,296,543.09 62,280.00 5,362,280.00 5.61% 26,469.00 3,456.91 0.00 5,335,811.00 5,323,012.09 Investment Manes By Fund As or March 31,1996 FLC4• E LOGIC fig@ Am98 June 9Q MY-98 Al 98 SOPA Oct Nov Dec 9 Jay Feb 99 Ma 99 June 99 jEn im 1 31,541.09 486,607.84 488,856.25 501,011.67 1,006,263.07 499,710.00 1,013,954.44 15,542.78 999,840.14 500,000.00 500,000.00 6,043,127.08 ,541.05 2 8,262.16 410,219.17 486,123.33 484,342.22 483,830.00 486,602.78 499,710.00 800,000.00 503,282.12 473,710.94 1,002.458.33 500,000.00 500,000.00 6.2233,086.04 4 233,086.04 500,000.00 6 500,000.00 0.00 7 499,080.00 963,121.80 8 0.00 101,722.70 362,339.10 1,283,094.37 9 0.00 9,651.04 1,023,443.33 250,000.00101,104.68 12 101,104.68 0.00 13 0.00 15 5,887.09 16 5,887.09 527,429.68 17 527,429.68 500,000.00 500,000.00 18 0.00 0.00 500 000.00 500,000.00 19 0.00 0.00 0.00 20 179,951.58 21 0.00 179,951.58 0.00 22 0.00 23 0.00 240,68296 24 0.00 240,662.96 4,404,774.81 26 4,404,774.81 1,039,321.02 28 1,039,321.02 333,022.42 29 333,022.42 0.00 32 0.00 0.00 33 50,928.13 34 0.00 45,928.13 5,000.00 0.00 35 0.00 0.00 36 251,125.01 39 251,125.01 750,000.00 289,909.38 500,000.00 1,637,594.30 40 97,684.92 882,078.87 50 0.00 202,400.54 479,678.33 1,205,647.51 51 459,817.97 259,755.93 486,073.61 965,005.25 53 965,005.25 822,136.81 54 822,136.61 Tote) 1,424,823.22 8,893,426.41 915,219.17 966,285.97 1,509,568.66 1,457,072.08 984,841.67 1,494,865.85 999,420.00 1,976,293.54 503,282.12 1,473,710.94 2,018,001.11 999,840.14 1,289,909.36 1,000,000.00 999,080.00 28,905,820.26 4