The URL can be used to link to this page

Home My WebLink AboutFY 2000 Annual Investment Report ' T H E C I T Y O F M O R E T H A N` 1• "V E R 1 1 � � 1 t � 1 Annual Investment Report 1 Fiscal Year Ending 1 September 30, 2000 1 1 ■ ■ INVESTMENT COMMITTEE MEETING ■ 12/20/00 *Annual Review, FY 00 ' Introduction I. Portfolio Summary II. Performance Summary ® III. Interest Income Summary IV. Collateral Review V. Broker Selection Process VI. Summary *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 at September 30, 2000 Appendix F - End of Month Reports October 1999 - September 2000 *General Discussion and Questions ■ ■ ' T H E C I T Y O F EULESS ' To Investment Committee Members ' From Vicki Rodriquez, Budget and Treasury Manager Date December 20, 2000 ' Subject Annual Investment Report The City of Euless Investment Policy, revised and adopted by the City Council in ' December 1999, 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 fourth quarter of Fiscal Year 1999-00 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 1,1999 in all aspects including reporting. The fourth quarter report of FY 2000 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 ' 6/30/00, changes in market value, the market value at 9/30/00, 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. 1 1 ' 201 N.Ector Drive,k less,Texas 76039-3595 817/685-1400 •Metro 817/267-4403 •Fax 817/685-1416 INTRODUCTION ' This report is written and submitted in accordance with Texas State law, specifically Tex. Rev. Civ. Stat. Ann. Art. 4413 (34C) Section 4, which states that "at least once each year, the investment officer of a state agency or political subdivision shall prepare a written report concerning the agency's or subdivision's local funds investment transactions for the preceding i year and describing in detail the investment position of the agency or subdivision as of the date of the report." The City's investment policy designates the Director of Finance as the responsible manager for the City's investment program and as such has delegated the daily investment procedures to the Budget and Treasury Manager. In compliance with the City's investment policy, the Cash & Debt Department fulfills four main objectives: compliance, safety, liquidity and yield, in that order. Compliance is maintained through regular reporting to City management on a monthly, quarterly and annual basis. Safety is insured by 1) investing only in those securities allowed by Art. 842(a-2, V.T.C.S.) ® entitled the "Public Funds Investment Act of 1987" with revisions in 1989, 1991, 1993,1995, 1997, and 1999; 2) using delivery vs. payment for all purchases (payment for securities is made upon delivery); 3) protecting all non-government securities. (cash and bank certificates of deposit) with collateral in the form of government securities which are pledged to the City of Euless and safekept at a third party institution; 4) diversifying investment purchases into different security markets to minimize individual market risk. Liquidity is met by matching investment terms to future ' operating cash needs such as payroll, accounts payables, debt service and capital improvement disbursements. Furthermore, investment in money market funds and local government investment pools provides the safety and daily liquidity needs of the City. The yield or rate of return which the City receives is measured against the average 90 day treasury bill yield as set by the investment policy. This year we have been able to exceed this benchmark by an average of 24 basis points. The information contained in this report will quantitatively and graphically explain the achievement of these City objectives for fiscal year 1999-00. IL -2- ' 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 kk 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: 101 General Fund 510 Drainage Utility 201 Hotel-Motel Tax Fund 520 Recreation Classes Fund 210 1/2 Cent Sales Tax-Operations 521 Arbor Daze Fund 220 Crime Control & Prevention District 530 Softball World-Operations 230 Police Drug - DEA Awards 540 Golf Course Operations 231 Police Drug - State Awards 550 Athletic Complex operations 232 Ft. Worth DEA Task Force 601 Equipment Replacement Fund 240 Car Rental Tax Fund 610 Health Insurance Fund 501 Water& Sewer Fund 615 Risk Management Fund -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: 301 Developer's Escrow Fund 502 Water& Sewer-CIP IL 305 Streets & Drainage-CIP 505 Water Impact Fees Fund 310 1/2 Cent Sales Tax-CIP 508 Wastewater Impact Fees Fund 320 General Capital Projects Fund 511 Drainage CIP 325 Police Facility Construction Fund 552 Athletic Complex CIP-Phase II -Debt Service Funds should assure adequate liquidity to cover the debt service obligation on the required payment date. These funds include: 401 Debt Service/General Obligation 506 Water/Sewer Debt Service 402 Star Center Debt Service 531 Softball World Debt Service 410 1/2 Cent Sales Tax-Debt Service 541 Golf Course 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: 102 General Fund-Emergency 507 Water& Sewer-Emergency Fund 103 General Fund-Contingency 705 Star Center Bond Reserve 211 1/2 Cent Sales Tax-Bond Reserve Based on the above strategies, the investment portfolio reported herein is in compliance with the relevant provisions of the investment policy and the Public Funds Investment Act. "VLZ' ( offta ell Director of Fiscal and Administrative Services Vicki Rodriquez Budget and Treasury Manager -3- I. PORTFOLIO SUMMARY The City's investment portfolio at the end of the fiscal year, September 30, 2000, is summarized by instrument and by maturity as shown below. Distribution by Instrument % of Average Avg. Yield Instrument Cost Portfolio Yield Prior Year Agencies 26,936,719 54.75% 6.51% 5.23% Treasuries 0 0.00% 0.00% 5.47% Money Market 22,260,694 45.24% 6.55% 5.20% CD's 5,000 0.01% 5.50% 5.00% 49,202,412 100.00% This table shows that the majority of City funds, approximately 55% are invested in treasuries and government agency securities which provide a high level of safety. As of the date of this report, the yield on these investments ranged from 5.12 to 7.07%. When compared to prior year's levels, the yield on our portfolio has trended up. The Federal Reserve raised interest rates six times (175 basis points) since it began raising rates in June 1999. Our portfolio has shown a tremendous increase over prior year as evidenced above. The Federal Reserve has left rates unchanged since May. Economists expect the Fed to shift its policy to a neutral stance and could possibly lower rates early next year. Distribution by Maturity # of days Cost % of Portfolio 1 - 30 $23,252,261 47.3% 31 - 90 4,493,576 9.1% 91 - 180 7,838,641 15.9% 181- 365 9,562,141 19.4% Over 365 4,055,794 8.2% $49,202,412 100.0% This table reflects the degree of liquidity in the City's portfolio with the ability to access over 72% of the portfolio within six months. This strategy was followed not only to meet cashfiow requirements for construction projects, but also because this time frame provided the best yields for the securities available at the time of purchase. Currently, we have an inverted yield curve enviroment. In a normal situation, investors would receive a higher yield when commiting their money for a longer period of time. An inverted yield curve occurs when investors perceive that the economy is going to slow and that interest rates are going to fall. In this type of environment, yield on longer maturities are lower than those of short term maturities. An additional 19% matures within one year. The remaining 8% is invested beyond one year. We were able to comply with our investment policy by using emergency funds, reserve funds, escrow funds, and bond proceeds for these investments. 1By Instrument By Days to Maturity 0% 8% ■ 1 -30 I ®Agencies 190/( ® 31 -90 45% OTreasuries 48% ® 91 - 180 55% OMoney Market C 181-365 / ■CD's 16% 0 Over 365 �0 0% 9% -4- City of Euless Pooled Portfolio Summary for Quarter Ending September 30, 2000 Cost Book Market Principal Only Value Value Investments at June 30, 2000 $48,775,551.88 $48,951,153.72 $48,891,748.76 Investment Purchases 15,762,054.16 Investment Maturities (15,932,741.15) Dividends Reinvested (Pools) 377,505.65 Investments at September 30, 2000 $48,982,370.54 $49,196,165.61 $49,191,402.81 Loretta Getchell Director of Fi and Administrative Services Q'V Vicki Rod iquez Budget and Treasury Manager -5- Summary of Investments by Fund The following is a summary of investments held by each fund at June 30,2000 and September 30,2000. The changes include all investment purchases, maturities and expenses that occurred during the last quarter of FY2000. Investment Securities Investment Securities Increase/ at Market Value at Market Value Decrease 06/30/00 09/30/00 In Fund 101 7,533,503.95 5,703,253.44 (1,830,250.51) Operating Expenses 102 493,125.00 495,781.25 2,656.25 103 493,125.00 495,781.25 2,656.25 201 143,203.25 145,535.57 2,332.32 210 910,210.75 746,450.27 (163,760.48) Transfer to CIP 211 951,037.83 966,180.17 15,142.34 220 495,603.92 321,632.39 (173,971.53) Transferred funds to CIP 230 469,524.91 510,281.62 40,756.71 Excess Fund Balance 231 0.00 4,975.81 4,975.81 232 48,433.23 0.00 (48,433.23) Allocated to Task Force 240 699,343.75 4,262,760.85 3,563,417.10 Car Rental tax receipts 301 1,087,027.30 1,015,416.99 (71,610.31) Transferred funds to CIP 305 5,128,983.91 4,893,585.92 (235,397.99) Capital Outlay 310 1,135,725.94 1,138,430.39 2,704.45 320 96,910.15 98,546.24 1,636.09 325 9,055,401.66 9,319,153.33 263,751.67 Interest/Transfer 401 512,682.77 318,920.50 (193,762.27) Debt Service Payment 402 345,278.27 351,006.18 5,727.91 410 8,351.01 0.00 (8,351.01) 501 6,825,132.15 6,500,579.99 (324,552.16) TRA Payments 502 4,183,792.15 3,308,166.09 (875,626.06) Capital Outlay 505 1,303,777.94 1,307,911.00 4,133.06 506 28,275.24 28,767.90 492.66 507 491,171.88 495,000.00 3,828.12 508 1,224,132.22 1,234,963.63 10,831.41 510 602,734.65 617,213.08 14,478.43 511 312,732.79 317,787.63 5,054.84 520 100,531.57 102,168.91 1,637.34 521 176,786.56 179,665.85 2,879.29 530 414,780.59 519,239.18 104,458.59 Excess Fund Balance 540 265,128.05 379,178.77 114,050.72 Excess Fund Balance 552 57,797.83 58,739.17 941.34 601 445,171.82 400,520.57 (44,651.25) Capital Outlay 610 307,249.78 312,590.63 5,340.85 615 582,569.45 646,150.16 63,580.71 Excess Fund Balance 705 1,962,511.48 1,995,068.08 32,556.60 Interest TOTAL: 48,891,748.75 49,191,402.81 299,654.06 Fund Names 101 General Fund 410 Debt Service/Half Cent Sales Tax 102 General Fund-Emergency 501 Water&Sewer Fund 103 General Fund-Contingency 502 Water&Sewer-CIP 201 Hotel-Motel Tax Fund 505 Water Impact Fees Fund 210 1/2 Cent Sales Tax-Operations Fund 506 Water and Sewer Debt Service 211 1/2 Cent Sales Tax-Debt reserve 507 Water&Sewer-Emergency Fund 220 Crime Control&Prevention District 508 Wastewater Impact Fees Fund 230 Police Drug-DEA Awards 510 Drainage Utility 231 Police Drug-State Awards 511 Drainage-CIP 232 Ft.Worth DEA Task Force 520 Recreation Classes Fund 240 Car Rental Tax Fund 521 Arbor Daze Fund 301 Developer's Escrow Fund 530 Softball World Operations 305 Streets&Drainage-CIP 540 Golf Course Operations 310 1/2 Cent Sales Tax-CIP 552 Athletic Complex Phase II-CIP 320 General Capital Projects Fund 601 Equipment Replacement Fund 325 Police Facility Construction Fund 610 Health Insurance Fund 401 Debt Service/General Obligation 615 Risk Management Fund 402 Star Center Debt Service 705 Star Center Reserve Fund —6— II. PERFORMANCE SUMMARY Cash and Investments Balances-Full utilization of funds and minimization of idle cash is necessary to pursue additional interest income revenues for the City. The average percent of invested funds is 100% for FY00. The monthly data below shows the continued utilization of City funds through investments. Consolidated Invested Percentage Cash Balance Invested Oct-98 ($465,000) $27,602,728 102% Nov-98 487,174 27,244,663 100% Dec-98 (227,344) 30,096,550 101% Jan-99 59,921 31,198,680 100% Feb-99 (53,154) 30,997,260 100% Mar-99 (585,701) 30,096,806 102% Apr-99 141,555 29,177,901 100% May-99 (396,348) 31,041,488 101% Jun-99 (220,209) 30,907,321 101% Jul-99 (292,533) 30,502,975 101% Aug-99 (168,554) 29,350,836 101% Sep-99 (1,205,074) 28,395,407 105% Average (243,772) 29,717,718 101% Consolidated Invested Percentage Cash Balance Invested Oct-99 $21,308 $26,689,966 100% Nov-99 9,762 27,324,741 100% Dec-99 (74,109) 29,346,107 101% Jan-00 (512,082) 31,866,923 102% Feb-00 (337,755) 31,761,650 101% Mar-00 (407,828) 31,013,173 100% Apr-00 1,022,762 30,341,850 97% May-00 (488,347) 48,855,230 101% Jun-00 (95,195) 48,945,439 100% Jul-00 (353,832) 49,125,577 101% Aug-00 (594,889) 49,671,445 101% Sep-00 (316,280) 49,202,412 101% Average (177,207) 37,845,376 100% This graph shows how a greater portion of the City's funds continue to be invested, always in pursuit of 100%. 105.00% v N 100.00% m 95.00% c 90.00% d 85.00% 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 Fiscal Year —7— Cash management performance- effectiveness of the cash management program has been measured utilizing actual figures for FY00 as shown below: Average City's Number Estimated 90 day Invested Days in Interest Month TBill Yield Balance Month Earnings Oct-99 4.98% $26,689,966 31 $112,888 Nov-99 5.11% $27,324,741 30 $114,764 Dec-99 5.34% $29,346,107 31 $133,095 Jan-00 5.46% $31,866,923 31 $147,775 Feb-00 5.71% $31,761,650 28 $139,125 Mar-00 5.86% $31,013,173 31 $154,352 Apr-00 5.82% $30,341,850 30 $145,142 May-00 5.97% $48,855,230 31 $247,716 Jun-00 5.84% $48,945,439 30 $234,938 Jul-00 6.13% $49,125,577 31 $255,763 Aug-00 6.26% $49,671,445 31 $264,089 Sep-00 6.17% $49,202,412 30 $249,517 Average 5.72% 37,845,376 $183,264 Estimated earnings at benchmark yields: $2,199,163 Actual FY00 interest income (pre-audit): $2,478,248 Earnings over benchmark: $279,085 Key rate comparisons - an objective of the investment policy is for the City's average rate of return to consistently exceed that of the three month U.S. Treasury Bill, as stated before. Therefore, they have been presented for comparative purposes below. Benchmark 90 day City's Avg. Month T-bill yield Portfolio Yld Difference Oct-99 4.98% 5.21% 0.23% Nov-99 5.11% 5.38% 0.27% Dec-99 5.34% 5.53% 0.19% Jan-00 5.46% 5.73% 0.27% Feb-00 5.71% 5.88% 0.17% Mar-00 5.86% 5.95% 0.09% Apr-00 5.82% 6.08% 0.26% May-00 5.97% 6.22% 0.25% Jun-00 5.84% 6.27% 0.43% Jul-00 6.13% 6.36% 0.23% Aug-00 6.26% 6.47% 0.21% Sep-00 6.17% 6.49% 0.32% Average 5.72% 5.96% 0.24% The economy grew at a fairly strong pace and inflation remained very low for most of the fiscal year. However, during fiscal year 2000, The Fed made several interest rate hikes. These rate hikes had a significant positive impact on our portfolio during the fiscal year. The average yield on our portfolio increased by 82 basis points to 5.96% during Fiscal year 2000, up from 5.14%. ' -8- tIII. INTEREST INCOME SUMMARY ' FY96 Audit $1,999,689 FY97 Audit $1,663,462 FY98 Audit $1,510,862 L FY99 Audit $1,451,772 FY00 Pre-Audit $2,478,248 FY00 Projected $1,925,099 i Interest Income Received versus Projected 129% Interest Income Summary $3,000,000 $2,500,000 N C' $2,000,000 C W $1,500,000 $1,000,000 a� $500,000 $0 FY96 Audit FY97 Audit FY98 Audit FY99 Audit FY00 Pre-Audit FY00 Projected Interest income met and exceeded the budgeted level for fiscal year 2000. When compared to prior year, interest earnings have increased. This increase can be attributed to several interest rate hikes by the Federal Reserve since June 1999 and interest earned on bond proceeds received during this fiscal year. Market rate Outlook - As expected, the Federal Open Market Committee left the Fed Funds rate unchanged at 6.50% for the remainder of 2000. At their meeting on December 19, 2000, the Fed stated that"the risks to the economy are now weighted mainly toward conditions that may generate economic weakness in the foreseeable future." In effect, an easing could be on the horizon as early as January. However, Fed policy makers may hold of on a rate cut until the economy shows further signs of cooling and unemployment rises above the current level of 4%. The latest economic data suggest moderate growth in the economy with low inflation and some evidence of slowing. Job growth slowed in November, but the labor market is still tight enough to push wages up. The unemployment rate is at a 30 year low, at 4%. Leading indicators suggest that the economic slowdown will continue through the first half of next year. In addition new housing starts have slowed. *Source: GFOA"Public Investor," December 1,2000 First Southwest Company, Weekly Market Internet Updates -9- Interest Income By Fund For Fiscal Year Ending 2000 # Fund FY 99 FY 99 FY 00 FY00 FY 00 Actual Diff FY00 Budget Audit Budget Projected Pre-Audit Pro'.-Act. 101 General $375,000 $351,965 $325,000 $375,000 $434,752 $59,752 201 Hotel/Motel 3,300 6,805 4,000 $10,000 12,121 $2,121 210 Half Cent Sales Tax-Operations 65,000 73,303 60,000 $60,000 46,006 $13,994 211 Half Cent Sales Tax-Reserve 0 0 0 $0 55,592 $55,592 220 Crime Control Prevention District 15,000 23,021 15,000 $15,000 31,051 $16,051 230 Euless DEA Fund 0 17,196 0 $0 25,679 $25,679 231 Police State Awards 0 836 0 $0 54 $54 232 FW DEA Task Force-(Euless Portion 0 390 0 $0 2,518 $2,518 234 LLEBG 97 0 1,389 0 $0 713 $713 235 LLEBG 98 0 463 0 $0 640 $640 240 Car Rental 0 0 56,000 $56,000 45,798 $10,202 301 Develo er's Escrow 55,000 76,461 50,000 $50,000 74,027 $24,027 305 Streets CIP 40,000 217,310 126,082 $126,082 219,634 $93,552 3101 Half Cent Sales Tax- CIP 25,000 50,884 61,500 $80,000 78,354 $1,646 320 G.O. CIP 0 8,283 138,610 $138,610 145,080 $6,470 325 Police Facility CIP' 5,000 37,150 454,724 $454,724 205,450 $249,274 401 GO Debt Service" 14,500 13,062 10,500 $20,000 132,123 $112,123 402 Star Centre Debt 0 0 0 $0 6,065 $6,065 410 Half Cent Debt 0 0 0 $0 646 $646 501 lWater and Sewer 340,000 309,667 300,000 $300,000 407,707 $107,707 502 Water and Sewer CIP 25,000 46,879 97,683 $97,683 143,352 $45,669 503 Water and Sewer Reserve 20,000 17,438 20,000 $20,000 21,577 $1,577 505 Water Impact Fees 35,000 64,269 35,000 $35,000 63,347 $28,347 506 Water and Sewer Debt"" 0 0 0 $0 28,768 $28,768 508 Wastewater Impact Fees 35,000 27,854 35,000 $35,000 70,349 $35,349 510 Draina a 10,000 23,109 10,000 $10,000 34,268 $24,268 511 Draina e Capital Projects 12,000 10,767 6,000 $6,000 17,549 $11,549 520 Recreation Classes 0 0 0 $0 2,169 $2,169 521 Arbor Daze 0 3,163 1,000 $1,000 8,573 $7,573 530 Softball World 5,000 11,157 5,000 $5,000 23,224 $18,224 540 Golf Course 3,000 1,427 2,000 $2,000 8,841 $6,841 552 Athletic Complex Phase II -CIP 0 3,505 0 $0 4,314 $4,314 601 Equipment Re lacement 8,000 19,396 8,000 $8,000 31,431 $23,431 610 Health Insurance 0 9,460 5,000 $5,000 13,825 $8,825 615 Risk MGMT/Worker's Comp 25,000 25,163 15,000 $15,000 33,000 $18,000 705 Star Centre Debt Reserve 0 0 0 $0 49,654 $49,654 Totall $1,115,800 $1,451,772 $1,841,099 $1,925,099 $2,478,248 $553,149 129% of Budget Note that interest earnings is being earned on all investable City funds and great efforts are pursued to meet their budgeted levels. This report points out that the pre-audit interest earnings for the end of the fiscal year exceeds the budgeted level by 29%. Several Funds were budgeted conservatively or not at all 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, Dea Funds, and Grant Funds. A large portion of the difference can be attributed to Bond proceeds received during FY2000 and an increase in rates due to several rate hikes by the Fed. The budgeted interest earnings is over the life of the project and will be earned over a couple of years. Actual Interest earnings includes earnings on bond proceeds prior to the delivery of the bonds. -10- ' IV. COLLATERAL REVIEW The first and most important objective of investing public funds is safety. One way to insure the City's assets is to have ' them fully secured with "collateral". Acceptable collateral is defined in the City's investment policy, but generally consists of types of securities the City would invest in. Bank balances are monitored daily to assure their full coverage. The amount of collateral required by the depository bank varies with the expected level of deposits (typically correlates with ' large receipts such as property taxes, franchise taxes and investment maturities. :.:.:.:. i. .:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:...................:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:.:. F4. Ci i:.::.:. . ... .. ' Pledging Safekeeping Pledged Sec. Security Market Value Inv. Value Difference Institution Location Description Par Value (w/FDIC Ins.) Cad Mat'y(P & I) Over/ Under ' Bank One FDIC FDIC $0 $100,000 $25,313 $74,687 $ Mkt $0 ' DDA $25,313 Landmark Bank Texas Indep $1,500,000 $1,532,265 $262,957 $1,269,308 Bank-Dallas FHLB due Payroll $46,301 ' 08/24/05 $500,000 Operating $216,656 FNMA due 04/24/06 $1,000,000 � Produced By: Budget and Treasury Manager Reviewed by: Director of Fiscal and 61 Administrative Services This review is practiced on a regular basis assuring 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. —11— V. BROKER SELECTION PROCESS This section of the report is to provide a brief explanation of the process undertaken to select brokers with which the City invests. The broker/dealer list is reviewed annually (usually in combination with the first quarter report) and any changes are made at this time. The process is outlined below: 1. Brokers express an interest in doing business with the City's investment portfolio 2. A questionnaire is sent to the broker which requests the necessary information for Cash management to review including references, capital adequacy ratios, etc. 3. The Cash and Debt Department reviews all received questionnaires, summarizes the information and recommends the desired list of brokers with explanatory notes. 4. The recommendation is presented to the Investment Committee at the next quarterly meeting for discussion and final approval. 5. All brokers are notified after the selection is complete. VI. SUMMARY The primary objectives of compliance, safety, liquidity and yield have been achieved for the reporting period as evidenced by this report. These objectives will continue to be pursued for the City of Euless as provided by the investment policy. This year proved to be another successful year for the investment program. The City of Euless, like all other local governments, is faced with the challenge of meeting benchmark levels triggered by the Fed's actions and meeting additional reporting requirements as stated by new legislation. Therefore, the City's investment program will continue to seek new techniques, instruments, etc. to enhance the return on the City's funds, as well as the return of all City funds. In Fiscal Year 2000, not only did we keep the City's funds fully invested, we also completed the following: -Renewed bank depository agreement with Landmark Bank -Reviewed the investment policy to comply with the Public Funds Investment Act. The investment policy is being presented to the City Council in conjunction with this report. No changes are proposed at this time. -Updated investment software with new version which will assist in reporting and market pricing. -added TEXPOOL Investment Pool as another daily investment alternative The investment committee met on December 20, 2000 and reviewed the presented data for transmittal to the City Cou H. Vcki Rodriquez Loretta Getch II Budget and Treasury Manager Director of Fiscal And Administrative Services -12- Minutes - 10/5/00 Investment Committee Meeting Members: Gary McKamie, Deputy City Manager Loretta Getchell, Director of Finance Vicki Rodriquez, Budget and Treasury Manager Janina Jewell, Accounting Manager Committee members present included, Gary McKamie, Loretta Getchell, Vicki Rodriquez and Janina Jewell. Vicki Rodriquez presented the second and third quarter investment report to the committee. The committee reviewed the reports. During the review, Vicki pointed out that interest earnings projected for year end would exceed budgeted amounts. This increase is due to six rate hikes by the Fed during the past year. Also, the City issued several bonds during FY2000. These bond proceeds are in interest bearing accounts and withdrawals are made as necessary. Janina Jewell motioned to approve the second quarter report as presented, Gary McKamie seconded. Loretta Getchell motioned to approve the third quarter report as presented, Janina Jewell seconded. Gary McKamie motioned to adjourned the committee meeting. Loretta Getchell seconded. Meeting was adjourned. —13— X ..r z w ' CL CL rr r r r r r r r r r r r r r r r r r r Nof bTwd As of June 30,2000 Mrvesa"Wd Type lmtltution LOWC Local Govt Pool FNMA Fed.Nett Mort Aesec. FHLB Fed.Home loan Ser* FGIC FkaneGal Investors Trot FSW FIM Southwest LNDMRK Landmark Bank POIC Many II , Pool FFCS Fed Farm Credit Bank FMAC Fed.Hare Loan Mort Corp. VlnMa Vkting Sparks Me" Merrill Lvneh LOGIC Local Govt Investment Cooperative SLMA Shrdent Loan Mort Meoe.TNOTE Treasury Note CD C nhicate of Deposit BANCONE Banc One Capital Everen Everen Securities Inv. Qrdp Porcher Tenn MahMly Days Price Par FMncipsl Interest Interest Yield To Book Market Market Seller Unamortized Coupon M" 11u mhw gft (in chum) Io Almled Parma Y" Invested db ma Y1f Accrued Mah) Value Ede Yalu9 Inst Disenunt Pramium 1'JrarrMw- am U.&GOVERHM6f7AGENCIES Ayeery Dbaaslt Nobe FNMA 313688280 0602)90 354 0721100 333 94.7588 500,000.00 473,794.17 26,205.83 24,651.26 5.64% 498,445.42 99.6255 498,127.50 Merrill FNMA 3136881162 0204100 181 08103/00 147 97.0688 500,000.00 485,344.03 14,665.97 11,902.92 6.11% 497,246.94 99.3937 496,968.33 FSW FHLB 313304840 02H1O0 180 0810900 140 97.0950 500,000.00 485,475.00 14,625.00 11,297.22 6.08% 496,772.22 99.2867 498,433.33 Banc One FNMA 313686883 0211100 tel 08/1000 140 97.0738 500,000.00 486,309.17 14,630.83 11,316.67 6.10% 496,885.83 99.2688 496,344.17 JWG FNMA 313511M 03/10100 188 09114/00 92 97.1720 500,000.00 485,880.00 14,140.00 7,743.33 6.34% 493,603.33 98.6426 493,212.78 FSW FNMA 313688674 03/10100 175 092100 92 97.0542 500,000.00 485,270.83 14,729.17 7,743.33 6.35% 493,014.17 98.5175 492,587.64 JWG FNMA 3135111011018 042000 181 102600 63 96.8828 500,000.00 484,413.89 15,686.11 6,425.00 6.51% 489,838.89 97.8858 489,429.17 Banc One FNMA 313668864 12/08199 359 120100 205 94.4056 500,000.00 472,027.92 27,972.08 15,972.92 5.95% 488,000.83 97.2194 486,097.22 Merrill FMAC 31290ILU1 042000 263 01/1601 83 95.4507 500,000.00 477,263.60 22,746.40 5,448.76 6.60% 482,702.36 96.3889 481,944.45 FSW FNMA 313680888 0212200 339 0126101 129 94.2653 1,000,000.00 942,1152.50 67,347.50 21,822.50 6.47% 964,475.00 96.2083 982,083.33 JWG PHLS 3133668118 02/1100 356 020101 140 93.9876 500,000.00 469,937.78 30,062.22 11,822.22 6.47% 481,760.00 96.1000 480,500.00 Merrill FHLB 31338667 042000 357 0420101 63 93.8021 500,000.00 469,010.42 30,989.58 5,468.75 6.65% 474,479.17 94.6917 473,468.33 Merrill FHLB 313386F68 05/1200 360 050701 49 93.4100 750,000.00 700,575.00 49,425.00 6,727.29 7.03% 707,302.29 94.3847 707,885.42 Merrill TOTAL 7,250,000.00 6,916,984.29 333,015.71 147,342.16 6.33% 7,064,326.45 7,055,071.67 A9-7 Coupon Nales FHLB 3133MOM 120009 180 070700 173 99.7213 500,000.00 498,808.75 27,700.00 26,622.78 6.09% 500,000.00 99.9844 499,921.88 Vining 1,393.26 0.00 5.5400% FHLB 3133M74B9 01116)99 539 07/1400 525 100.0000 1,000,000.00 1,000,000.00 77,855.58 75,833.33 5.20% 1,000,000.00 99.9688 999,687.50 Everen 5.2000% FHLB 3133M74T0 0121199 180 072100 159 100.0000 500,000.00 600,000.00 12,500.00 11,041.67 5.00% 500,000.00 99.9531 499,755.63 Everen 5.0000% FMB 3139M76Y6 02/18199 180 00/1800 132 100.0000 11000,000.00 11000,000.00 25,000.00 18,333.33 5.00% 1,000,000.00 99.7813 997,812.60 FSW 5.0000% FNMYt 31304FATB 03x10100 180 09/1000 102 99.8763 500,000.00 499,381.26 15,350.00 8,698.33 6.40% 499,752.50 99.8750 499,376.00 Vining 618.75 (247.50) 6.1400% FNMA 31364190M 012600 180 092000 100 100.0000 200,000.00 200,000.00 6,110.00 3,394.44 6.09% 200,000.00 99.8750 199,750.00 Banc One 6.1100% FNMA 31384 M 0207100 180 0925M 95 99.7280 500,000.00 498,639.98 44,925.00 7,877.08 6.40% 499,548.66 99.8438 499,218.75 Vining 1,360.03 (463.34) 5.9700% FHLB 13133MA" 01//1100 180 102500 245 99.8200 500,000.00 499,100.00 15,100.00 20,652.78 6.20% 499,882.50 99.7031 498,515.63 FSW 900.00 (337.50) 6.0400% FHLB"3133MAAE0 12/1509 180 110300 57 99.9500 485,000.00 464,787.50 14,066.25 4,454.31 6.10% 464,903.15 99.7500 463,837.50 Banc One 232.50 (96.85) 6.0500% FHW,y 31=M'24 06/1709180 11/1700 43 100.0000 500,000.00 600,000.00 13,000.00 3,105.56 5.20% 500,000.00 99.4219 497,109.38 Everen 5.2000% FNMA 31364OOON445 0107/00 180 11/1700 43 99.1905 500,000.00 495,952.72 12,950.00 3,093.61 6.15% 498,381.08 99.4375 497,187.50 Vining 4,047.28 (1,618.92) 5AMM FNMA 31364GHW2 110009 180 112900 31 99.1094 500,000.00 495,546.88 12,750.00 2,195.83 6.98% 498,515.64 99.3750 496,875.00 Merrill 4,453.12 (1,484.36) 5.1000% FNMA 31354tH 2 112409 180 112900 31 99.0313 199,000.00 197,072.19 5,074.50 873.94 6.10% 198,196.75 99.3750 197,756.25 Merrill 1,927.81 (803.25) 5.1000% FHLB 3133MBM 060309 180 120100 29 99.2813 330,000.00 327,628.13 8,679.00 1,398.28 5.82% 329,256.80 99.3906 327,989.06 Banc One 2,371.87 (741.20) 5.2800% FHLB 3133MBVE1 060709 100 120700 23 100.0000 500,000.00 500,000.00 13,412.60 1,713.82 5.37% 500,000.00 99.4063 497,031.25 Everen 5.3650% FHLB 3133MMM 110209 180 12/15100 15 99.7500 500,000.00 498,750.00 14,375.00 1,197.92 5.98% 499,519.20 99.6469 497,734.38 Banc One 1,250.00 (480.80) 5.7500% FNMA 31304OLv3 110400 180 122200 8 90.0625 500,000.00 495,312.50 12,875.00 572.22 6.01% 498,197.10 99.2813 496,4011.25 FSW 4,687.50 (1,802.90) 5.1500% FNMA 31364GW 012000 180 020201 148 98.6875 175,000.00 172,703.13 4,515.00 3,712.33 6.49% 173,763.24 99.0938 173,414.06 Merrill 2,296.87 (1,236.76) 5.1800% FNMA 313648" 05/16100 180 020201 148 98.9817 500,000.00 494,908.69 13,750.00 11,305.56 6.97% 496,040.10 99.2813 496,406.25 Merrill 6,091.32 (3,959.90) 5.500% FHLB 313MOM 001/609 180 02/1&01 134 100.0000 500,000.00 600,000.00 15,075.00 11,222.50 6.03% 500,000.00 99.5313 497,656.25 Everen 6.0300% FHLMC 3134A3881 05112100 180 030101 119 98.7290 1,000,000.00 987290.00 26,875.00 17,767.36 7.02% 989,832.00 99.0938 990,937.50 JWG 12,710.00 (10,108.00) 5.375% FNMA 31384&M 0420100 180 030801 112 99.3438 500,000.00 496,718.75 14,300.00 8,897.78 6.49% 497,613.60 99.3125 496,562.60 JWG 3,281.25 (2,385.40) 5.7200% FHLB 313300VR8 0629100 180 032201 98 99.4685 500,000.00 497,342.38 15,400.00 8,384.44 6.90% 497,342.38 99.5313 497,656.25 Duncan 2,657.62 (2,657.62) 8.160% FHLB 3133M0YK2 02/0400 160 040601 84 90.3438 500.000.00 496,718.75 15,050.00 7,023.33 6.80% 497,728.31 99.3750 496,875.00 Merrill 3,281.25 (2,271.69) 6.0200% FNMA 31354KMDO 0428100 190 042801 64 99.9420 500,000.00 499,710.00 16,425.00 5,840.00 6.63% 499,782.47 99.7813 498,906.25 JWG 290.00 (217.53) 6.5700% FHLB 3133MMF4 110406 180 060401 58 100.0000 1,000,000.00 1,000,000.00 25,600.00 7,964.44 5.12% 1,000,000.00 96.6250 988,250.00 Everen 5.1200% FNMA 31354KNK2 05/1700 180 05/1701 43 99.9350 1,000,000.00 999.350.00 35,000.00 8,361.11 7.07% 999,468.30 100.1250 1,001,250.00 Banc One 650.00 (541.70) 7.000% FHLMC 3134A2HWI 0108100 180 06/16101 15 99.2500 400,000.00 397,000.00 12,000.00 11000.00 8.65% 398,058.83 99.2188 396,875.00 FSW 3,000.00 (1,941.17) 8.0000% FHLB 3133M41100 04MWW 180 062201 8 98.8870 250,000.00 247,217.50 7.012.50 311.67 6.80% 247,813.75 98.8281 247,070.31 3ANCONE 2.782.50 (2,186.25) 5.6100% FNMVL 31384CFM 082800 180 0810701 143 99.6650 800,000.00 797,320.00 26.700.00 21,259.33 7.00% 797,320.00 99.9063 799,250.00 FSW 2,680.00 (2,680.00) 6.690% FHLMC 3134A24C9 05103100 180 08/1701 133 97.9588 500,000.00 489,843.75 13,437.50 9,928.82 7.04% 491,197.83 98.3750 491,876.00 FSW 10,156.25 (8,802.17) 5.375% FHLB 3133MA8T7 0212200 540 082201 128 100.0000 500,000.00 600,000.00 52,500.00 12,444.44 7.00% 500,000.00 99.6563 498,281.25 JWG 7.0000% FHLB 313311616R77 01113100 150 100601 85 96.1560 500,000.00 490,780.00 13,982.50 6,802.85 6.73% 493,414.25 98.4375 492,187.50 FSW 9,220.00 (6,585.75) 5.5930% FHLB 3133MWW 010700 160 11/1601 44 97.7188 100,000.00 97,710.75 2,822.50 641.06 6.56% 98,340.80 97.8594 97,859.38 Banc One 2281.25 (1,659.20) 52450% FHLB 312902867 0126100 180 012202 159 100.0000 500.000.00 500,000.00 17,150.00 15,149.17 6.86% 500,000.00 99.7813 498,906.25 JWG 6.8600% FHLB 3133MAW3 012600 180 012502 155 100.0000 500,000.00 600,000.00 17,025.00 14,6W.42 6.81% 600,000.00 99.6250 498,125.00 JWG 8.8100% FMAC 3134A3TE6 0607)99 180 080702 23 100.0000 500,000.00 500,000.00 15,000.00 1,916.57 6.00% 500,000.00 98.2344 491.171.88 Everen 6.0000% TOTAL; 19,419,000.00 19,335,379.57 861,202.81 365,352.52 6.26% 19,363,639.24 19,313,489.06 83,620.43 0.00 (55,360.76) CERT1F1CATR8 OF DEPOSIT'S CD 012300 366 0423101 67 100.0000 6,000.00 5,000.00 275.00 50.48 6.60% 5,000.00 100.0000 5,000.00 Lndmrk 5.500% MVESTMENT POOLS LOGIC WA WA WA WA N/A 100.0000 10,030,342.13 10,030,342.13 WA WA 6.36% 10,030,342.13 100.0000 10,030,342.13 LOGIC TeWoo WA WA WA WA WA 100.0000 11,108,905.98 11,108,906.98 WA WA 6.44% 11,108,905.98 100.0000 11,108,905.98 Texpool FGIC WA WA WA WA WA 100.0000 1,378,939.92 1,378,939.92 WA N/A 6.53% 1,378,939.92 100.0000 1,378,939.92 FGIC TOTAL* 22,518,188.03 22,518,188.03 6.44% 22,518,188.03 22,518,188.03 TOTAL PORTFOLIV 49,192,188.03 48,775,551.89 994,493.51 512,745.16 48,951,163.72 48,891,748.76 83,620.43 0.00 (55,360.76) Cay of Eu%n Investnent PoA110110 As of September 30.2000 "Mr1ut Pdm PrOvleea byJ.W.GarreW InvesaaM Type Institution Lome LOW limn P661 FNMA Fed.Non Mort Assoe. FHLB Fed.Flans Lan Bank JWG JW Genesis FSW First SouOnvest LNDMRK Landmark Bank FDIC Money Mtakat Fed FFC8 Fed.Farm CrNM Bank FMAC Fed.Hans Lan Mor.Corp. Vkft Virtlnp Spann Mani" Merrill Lynch LOGIC Local Gov't Investment Coop. Tayoo Loot Galt Pod TNOTE Treasury Note CD Ca"cate of Deposit Bancone Banc One Capital. Everen Everen Securities FGIC Financial Investors Trust Duncan Duncan Williams Texpool TEXPOOL Inv quip Purchase Tenn Maturity Days Price Par Principal Interest Interest YIW To Book Market Market Seller Unamortlzed Coupon MM N urnbw glift (in days gate Accrued Per s100 YAkm Invested 911 Accrued Matudut YeWe Pica Yalue InaL Discount Premium PremUsc Bata U.S.GOVERNMENT AGENCIES AOaney Olsaatrd Nobs FNMA 3135881AZB 0//18100 181 1088100 155 98.8826 500,000.00 484,413.89 15,586.11 13,347.22 6.51% 497,761.11 99.5356 497,678.06 Banc One FNMA 313SOMM 12ROM 359 12/01)00 297 94.4056 500,000.00 472,027.92 27,972.08 23,141.25 5.95% 495,169.17 98.8926 494,463.08 Merrill FMAC 312902LU1 0188100 263 01/16101 155 95.4507 500,000.00 477,253.60 22.746.40 13,405.67 6.60% 490,659.27 98.0710 490,355.00 FSW FNMA 313680888 0100 339 01/28/01 221 94.2653 1,000,000.00 942,652.50 57,347.50 37,385.83 6.47% 980,038.33 97.8924 976,923.89 JWG FHLB 3133958/8 02MIM 356 02101101 232 93.9876 500.000.00 469,937.78 30.062.22 19,591.11 6.47% 489,528.89 97.7852 488,926.11 Merrill FMAC 313307SH3 OSM0100 175 02101101 51 96.9181 500,000.00 484,590.28 15,409.72 4,490.83 6.65% 489.081.11 97.7852 488,926.11 JWG Flab 31 PO 0011180 180 02107101 50 95.8250 500,000.00 484.125.00 15,875.00 4,409.72 6.87% 488,534.72 97.6781 488,390.28 Merrill FML9 313385EP7 WAM 357 0480101 155 93.8021 500,000.00 469,010.42 30,989.58 13,454.86 6.85% 482,465.28 96.4089 482,044.45 Merrill Flab 31339BFGB OSM200 300 05107101 141 93.4100 750,000.00 700,575.00 49,425.00 19,356.13 7.03% 719,933.13 96.1675 721,256.25 Merrill FNMA 31111 180 0781100 357 07/13101 71 93.6633 500,000.00 488,316.25 31,683.75 6,301.25 6.80% 474,617.50 94.9950 474,975.00 Memo FMAC W339RENS 09M000 343 07/19/01 51 94.0547 500,000.00 470,273.33 29,726.67 4,420.00 6.62% 474,093.33 94.8900 474.450.00 JWG FMAC 31339REN3 0811100 342 07119101 50 94.0450 500,000.00 470,225.01 29,774.99 4,353.07 8.65% 474,578.07 94.8900 474,450.00 FSW TOTAL: 6,750,000.00 6,393,400.97 356,599.03 163,658.95 6.59% 6,557,059.92 6,554,838.20 Apartsy Carpal Nobe FHLB 3133MA3HO 01/31/00 300 1085100 336 99.8200 500,000.00 499.100.00 30,200.00 28,186.67 6.20% 500,000.00 100.0000 500,000.00 FSW 900.00 0.00 6.0400% FHLB 3133MAAE9 12M5I09 180 11103/00 147 99.9500 465,000.00 454,767.50 14,066.25 11.487.44 6.10% 484.961.28 100.0000 465,000.00 Banc One 232.50 (38.74) 6.0500% FH.b 3133M&24 05M709 180 11/171110 133 100.0000 500,000.00 500,000.00 13,000.00 9,605.56 5.20% 500.000.00 99.8438 499,218.75 Everen 5.2000% FNMA 31364GOMS 01107100 180 11/17/00 133 99.1905 500,000.00 495,952.72 12,950.00 9,568.61 6.15% 499,595.28 99.8438 499,218.75 Vining 4,047.28 (404.72) 5.1800% FNMA 31354GM 2 11100100 lea 1189100 121 99.1094 500,000.00 495,548.88 12,750.00 8,570.83 5.98% 499,628.91 99.7813 498,906.25 Merrill 4,453.12 (371.09) 5.1000% FNMA 3/361GHi2 1184109 180 1189100 121 99.0313 199,000.00 197,072.19 5,074.50 3,411.19 6.1Q% 198,839.35 99.7813 19804.69 Merrill 1,927.81 (160.65) 5.1000% FHLB 3133MSTE4 OBW3/09 190 12/01100 119 99.2813 330,000.00 327,021.13 8,679.00 5,737.78 5.82% 329,703.50 99.7813 329,278.13 Banc One 2,371.87 (290.50) 5.2600% FHLB 313NASVE1 0607100 180 12/07100 113 100.0000 500,000.00 500,000.00 13,412.50 8,420.07 5.37% 500,000.00 99.7813 498,906.25 Everen 5.3650% FHLB 3133MOOCS 11102810 180 12/15100 105 99.7500 500,000.00 498,750.00 14,375.00 8,385.42 5.98% 499,807.68 99.8438 499,218.75 Banc One 1,250.00 (192.32) 5.7500% FMA. 31384GLY3 11811100 180 1282100 91 99.0625 500,000.00 495,312.50 12,875.00 7,009.72 6.01% 499,278.64 99.7188 498,593.75 FSW 4,687.50 (721.16) 5.1500% 31384OW 018400 190 02102/01 56 98.6875 175,000.00 172,703.13 4,515.00 1,454.83 6.49% 174,293.25 99.5625 174,234.38 McMO 2,296.87 (706.75) 5.1800% 313618tH 05/18100 190 0281201 58 98.9817 500,000.00 494,908.09 13,750.00 4,430.56 6.97% 497,737.20 99.6875 498,437.50 Memo 5,091.32 (2.262.80) 5.5000% 313618tH 08)IMX) 180 02102/01 58 99.3750 150,000.00 149,062.50 4,125.00 1,329.17 6.84% 149,375.00 99.6875 149,531.25 Merrill 937.50 (625.00) 5.5000% 3133MAVLO OSM400 180 02/15101 45 99.9000 510,000.00 509,490.00 16,562.25 4,140.55 6.70% 509,080.00 100.0000 510.000.00 FSW 510.00 (340.00) 6.4950% FH,E 313MOKLIS 08116109 180 02/16101 44 100.0000 500,000.00 500.000.00 15,075.00 3.85.00 6.03% 500,000.00 99.7813 498.906.25 Everen 5.0300% FHLMC 3131/01081 05/12/00 190 0301101 29 98.7290 1,000,000.00 967,290.00 26,875.00 4,329.86 7.02% 993,645.00 99.5000 995,000.00 JWG 12,710.00 (6,355.00) 5.3750% FHLMC 3131/0)033 011112M 180 0307101 23 99.5156 100,000.00 99,515.63 2,940.00 375.67 6.80% 99.654.03 99.6875 99,687.50 Merrill 484.37 (345.97) 5.8800% FHNA 313618JY3 01/1000 180 03106101 22 99.3436 500,000.00 495,718.75 14,300.00 1,747.78 6.49% 498,508.55 99.6583 498,281.25 JWG 3,281.25 (1,491.45) 5.7200% FNMA 31364GXYW OB27/00 180 0310901 21 99.4145 500,000.00 497,072.50 14,000.00 1.33.33 6.70% 497,908.94 99.6250 498,125.00 Duncan 2,927.50 (2,091.06) 5.8000% FELE 3133MAZM4 070300 300 03M5101 195 99.9063 500,000.00 499,531.25 33,750.00 18,281.25 6.75% 499,685.19 100.0000 500.000.00 JWG 488.75 (334.81) 6.7500% FHJ3 313303189 011IMM 180 0382/01 6 99.4885 500,000.00 497,342.38 15,400.00 684.44 6.90% 498,339.00 99.7188 498,593.75 Duncan 2,657.62 (1,661.00) 5.1600% FHL9 3133MOWK2 020400 180 04100101 174 99.3438 500,000.00 496,718.75 15.050.00 14,548.33 6.60% 499,485.50 99.7188 498,593.75 Merrill 3,281.25 (1.514.40) 6.0200% FNMA 313040" 018800 180 048601 154 99.9420 600,000.00 499,710.00 16,425.00 14,052.50 6.63% 499,855.02 100.0000 500,000.00 JWG 290.00 (144.98) 6.5700% FHLB 3133MBEJ2 0&W= 100 04/16101 154 99.9280 500,000.00 499,640.00 16,250.00 13,902.78 6.59% 499,730.00 99.9375 499,687.50 BancOne 360.00 (270.00) 6.5000% FHLB 3133MOBF4 1101108 190 0504101 146 100.0000 1,000,000.00 . 1,000,000.00 25,600.00 20,764.44 5.12% 1,000,000.00 99.1563 991,562.50 Everen 5.1200% FNMA 31354KNO 05M78W 190 05/17/01 133 99.9350 1,000,000.00 999,350.00 35.000.00 25,861.11 7.07% 999,820.85 100.2500 1,002,500.00 Banc One 650.00 (379.15) 7.0000% FHLMC 3134A21NW 010600 180 08/15101 105 992500 400,000.00 397,000.00 12,000.00 7,000.00 6.55% 398,588.24 99.6250 398,500.00 FSW 3,000.00 (1,411.76) 6.0000% FHLB 3133MOVIS 04MOM 1110 0682/01 98 98.8870 250,000.00 247,217.50 7,012.50 3,817.92 6.60% 248,410.00 99.3125 248,281.25 3ANCONE 2,782.50 (1.590.00) 5.6100% FNMA 31304CMXD 062400 1110 OOM7101 53 99.6650 000.000.00 797,320.00 26,760.00 7,879.33 7.00% 797,938.48 100.0625 800,500.00 FSW 2,680.00 (2,061.52) 6.6900% FHLMC 3134112409 050300 180 08117101 43 97.9888 500.000.00 489,843.75 13,437.50 3,210.07 7.04% 493,229.20 99.0000 495,000.00 FSW 10,156.25 (6,770.80) 5.3750% FHLB 3133MASTY 0211AM 540 0682!01 218 100.0000 500.000.00 500,000.00 52.500.00 21,194.44 7.00% 500.000.00 100.0000 500,000.00 JWG 7.0000% FH.b 3133MCAZO 092800 180 0988101 2 100.0000 1.000.000.00 1.000.000.00 32.500.00 361.11 5.50% 1.000,000.00 100.0000 1.000.000.00 JWG 6.5000% FFCB 31331HMS 0627/00 100 100101 179 992597 635.000.00 630299.36 19,050.00 18,944.17 6.70% 630,970.88 99.5000 631,825.00 FSW 4,700.64 (4,029.12) 6.0000% FH.8 3/33M$W 018300 180 100501 175 96.1580 500,000.00 490,780.00 13,982.50 13,594.10 6.73% 494,731.45 99.0936 495,468.75 FSW 9,220.00 (5,268.55) 5.5930% FNMA 313(SOMEFB OOM100 180 10115101 165 97.7031 225,000.00 219,832.03 5,203.13 4,769.53 6.68% 220,570.32 98.1875 220,921.88 Merrill 5,167.97 (4,429.60) 4.6250% FNMA 31350AWO 000700 180 101501 165 97.7656 50,000.00 48.062.81 1,15625 1,059.90 6.75% 48,966.75 98.1875 49,093.75 Merrill 1,117.19 (1.031.25) 4.6250% FH,8 3133MOOMY 01107100 180 11/1601 134 97.7188 100,000.00 97,718.75 2.22.50 1,952.31 6.56% 96.652.03 98.8250 96,625.00 Banc One 2,281.25 (1,347.97) 52450% Flab 3133M9J59 0711300 190 118307 127 98.0748 500,000.00 490,374.00 13,750.00 9,701.39 7.00% 491,657.40 98.8750 494,375.00 Banc One 9,626.00 (8,342.52) 5.5000% FHLMC 3134AZLID 0007100 190 12/14101 108 97.5859 50.000.00 46,792.97 1,187.50 699.31 6.76% 48,873.44 98.0313 49,015.63 Merrill 1,207.03 (1,126.56) 4.7500% FHLMC 3134A2HO2 01M)OM 110 0110X02 83 98.4063 500.000.00 492,031.25 13,875.00 6,397.92 6.81% 492,529.30 98.8125 494,082.50 Vining 7,968.75 (7,470.70) 5.5500% FHLB 311200211187 0188100 180 0182102 68 100.0000 500.000.00 500.000.00 17,150.00 6,478.89 6.861; 500,000.00 100.0313 500,156.25 JWG 6.11000% FHLB 3133MAMF3 0186100 180 018502 65 100.0000 500.000.00 500.000.00 17.025.00 6.147.92 6.81% 500.000.00 100.0000 500.000.00 JWG 6.8100% FMAD 3/34A3TE6 0807199 100 0610702 113 100.0000 500.000.00 500.000.00 15,000.00 9,416.67 6.00% 500.000.00 99.0000 495,000.00 Everen 6.0000% TOTAL' 20,439,000.00 20.323,275.90 671,211.38 354,229.86 6.49% 20,373,412.02 20,370,870.94 115,724.09 0.00 (65,587.98) CERITFICIITES OF DEPOSITS CD 048380 365 0483101 161 100.0000 5,000.00 5,000.00 275.00 121.30 5.50% 5.000.00 100.0000 5,000.00 Lndmrk 5.500% INVESTMENT POOLS LOGIC WA WA WA WA WA 100.0000 10,609,295.09 10.609,295.09 WA WA 6.48% 10.609,295.09 100.0000 10,809,295.09 LOGIC Texpoo WA WA WA WA WA 100.0000 10,250,503.31 10,250,503.31 WA WA 6.57% 10,250,503.31. 100.0000 10,250,503.31 Texpool I= WA WA WA WA WA 100.0000 1,400.95.28 1,400,895.28 WA WA 6.59% 1,400,895.28 100.0000 1,400,895.28 FGIC TOTAL* 22,260,893.68 22,260.693.68 6.55% 22,260,693.68 22,260,693.68 TOTAL PORTFOLIO 49,454,693.88 48,982,370.54 1,028,085.41 518,010.11 49,196,165.61 49,191,402.81 115,724.09 0.00 (65,587.98) M m cay� m M M r M M M M Invesknent by Fund As of June 30,2000 Irnesbnent Type Instltutlon LOOK Local Govt pool FNMA Fed.Non Mort.Assoc. FHLB Fed.Horne Loon Bank FGIC Financial kwastors Trst FSW First Southwest LNDMRK Landmark Bank FDIC Money Market Pod FFCB Fed.Fenn Credit Bank FMAC Fed.Home Loon Mort.Corp. VIMng Vining Sparks Merrill Merrill Lynch LOGIC Local Govt Investment Cooperative SLMA Student Loan Mor.Assoc TNOTE Treasury Note CD CertHicate of Deposit BANCONE Banc One Capital Everen Everen Securities Cost Accrued Mw. Cusip Purdwe Term Maturity Price Per Book Value Interest Total Pen.+ Yield To Coupon Interest Seller Market %o1 I= MEW oft (ip days oft Per 5100 Value (Prin.On 91)fflary Int.91)Mal v Ma(yQ $g(Q Purchased )pgL Discount $Smjum EU0d Value Porffdlo )yam Fund 1014onsral Fund LOGIC WA 100.0000 2,071.45 2,071.45 2,071.45 6.36% LOGIC 101 2,071.45 0.00% 0.00 Ft11C WA 100.0000 0.00 0.00 0.00 6.53% FGIC 101 0.00 0.00% 0.00 FHLB 313311474To 010199 540 0721/00 100.0000 500,000.00 500,000.00 37,500.00 537,500.00 5.00% 5.000% Everen 101 499,765.63 1.02% 5.52 FNMA 313'SOMM 0201100 181 08/10100 97.0738 500,000.00 485,369.17 14,630.83 500,000.00 6.10% JWG 101 496,344.17 0.99% 1.79 FHLB 3133M7t3Y6 02116199 540 08/18/00 100.0000 200,000.00 200,000.00 15,000.00 215,000.00 5.00% 5.000% FSW 101 199,562.50 0.41% 221 FNMA 313588074 036!0/00 175 090100 97.0542 500,000.00 485,270.83 14,729.17 500,000.00 6.35% JWG 101 492,587.64 0.99% 1.74 FNMA 31364FONS 02107/00 228 0925100 99.7280 500,000.00 498,839.97 29,850.00 529,850.00 6.40% 5.970% 10,945.00 Vining 1,360.03 101 499,218.75 1.04% 2.37 FHL9 3133WP24 08117/99 540 11/17/00 100.0000 506,000.00 500,000.00 39,000.00 539,000.00 5.20% 5200% 0.00 FSW 0.00 101 497,109.38 1.02% 5.52 FNMA 31354GOW 01107/00 310 11/17/00 99.1905 500,000.00 495,952.72 25,900.00 525,900.00 6.15% 5.180% 3,59722 Vining 4,047.28 0.00 101 497,187.50 1.02% 3.16 FHLB 3133MAAEO 12/15199 318 11/03100 99.9500 465,000.00 464,767.50 26,132.50 493,132.50 6.10% 6.050% 3,282.13 Banc One 232.50 0.00 101 463,837.50 0.96% 3.04 FHLB 313MOVE1 08/07199 540 12/07/00 100.0000 500,000.00 500,000.00 40,237.50 540,237.50 5.37% 5.365% Everen 101 497,031.25 1.02% 5.52 FMAC 312MMU1 0128/00 263 01/16MI 95.4507 200,000.00 190,901.44 9,098.56 200,000.00 6.60% FSW 101 192,777.78 0.39% 1.03 FNMA 31354MM 05M5100 257 02/02/01 98.9817 500,000.00 494,908.69 27,500.00 527,500.00 6.97% 5.500% 7,868.06 FSW 5.091.32 101 496,40625 1.03% 2.64 FHLB 313385F06 OSM2I00 360 05107101 93.4100 750,000.00 700,575.00 49,425.00 750,000.00 7.03% Merrill 101 707,885.42 1.43% 5.15 FNMA 31364KNK2 OSM7100 380 05/17/01 99.9350 1,000,000.00 999,350.00 70,000.00 1,070,000.00 7.07% 7.000% 0.00 Banc One 650.00 101 1,001,250.00 2.04% 7.35 FHLB 3133MAST7 0222100 540 0822101 100.0000 500,000.00 500,000.00 52,500.00 552,500.00 7.00% 7.000% JWG 101 498,28125 1.02% 5.52 FHLB 3133MM" 01113/00 822 10/05MI 98.1560 500,000.00 490,780.00 55,930.00 555,930.00 6.73% 5.593% 7,612.69 FSW 9,220.00 0.00 101 492,187.50 1.02% 6.33 Subtotal 7,617,071.45 7,508,586.76 509,433.56 8,038,621.45 33,305.10 20,601.13 0.00 subtotal 7,533,503.95 15.41% 58.88 Fund 1014ataal Ftmdfinerpeney FHLB 3133MOBF4 11/04198 900 05/04/01 100.0000 500,000.00 500,000.00 64,000.00 564,000.00 5.12% 5.120% Everen 102 493,125.00 1.02% 9.19 Frnkd 103Oenaat FWW Conftency e_r11Sw 3133M6BF4 11104198 900 0514/01 100.0000 500,000.00 500,000.00 64,000.00 564,000.00 5.12% 5.120% Everen 103 493,125.00 1.02% 9.19 Fuvpd 2014bwmotel LOGIC WA 100.0000 143,203.25 143,203.25 143,203.25 6.36% LOGIC 201 143,20325 029% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.53% FGIC 201 0.00 0.00% 0.00 „kblow 143,203.25 143,203.25 0.00 143,203.25 subtotal 143,203.25 0.29% 0.00 Fund 21041a1f Cent Operations LOGIC WA 100.0000 100,531.57 100,531.57 0.00 100,531.57 6.36% LOGIC 210 100,531.57 021% 0.00 FW WA 100.0000 68,896.19 68,896.19 0.00 68,696.19 6.53% FGIC 210 8a,a96.19 0.14% 0.00 FNMA 313580184 12106/99 359 12101/00 94.4056 250,000.00 236,013.96 13,986.4 250,000.00 5.95% Merrill 210 243,048.61 0.48% 1.73 FHLB 3133M94K5 11/02/99 403 12/15/00 99.7500 50,000.00 498,750.00 43,125.00 543,125.00 5.98% 5.750% 10,940.97 Banc One 1,250.00 0.00 210 497,734.38 1.04% 420 Subtotal 919,427.76 94,191.72 57,111.4 962,552.76 10,940.97 1,250.00 0.00 subtotal 910,210.75 1.87% 5.93 Fund 2114laM Cad Reserve FGIC WA 100.0000 951,037.83 951,037.83 0.00 951,037.83 6.53% FGIC 211 951,037.83 1.94% 0.00 Fund 2204dime Control and Prevention LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.36% LOGIC 220 0.00 0.00% 0.00 FGIC WA 100.0000 4,338.64 4,338.64 0.00 4,338.64 6.53% FGIC 220 4,338.64 0.01% 0.00 FHLB 313384840 02M1/00 180 08/09/00 97.0950 250,000.00 242,737.50 7,262.50 250,000.00 6.08% Banc One 220 248,216.67 0.50% 0.89 FNMA 31350&W 12108/99 359 12101/00 94.4056 250,000.00 236,013.96 13,986.4 250,000.00 5.95% Merrill 220 243,48.61 0.48% 1.73 Sublow 504,338.64 483,090.10 21,248.54 504,338.64 0.00 0.00 0.00 subtotal 495,603.92 0.99% 2.62 Fund 230,Po0ee DEA(Federaq LOCK; WA 100.0000 27,054.07 27,054.07 27,054.07 6.36% LOGIC 230 27,054.07 0.06% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.53% FGIC 230 0.00 0.00% 0.00 FNMA 31356 428100 181 1028100 95.8828 250,000.00 242,206.94 7,793.06 250,000.00 6.51% BANC ONE 230 244,714.58 0.49% 0.90 FNMA 31354GHW2 1124199 365 1129100 99.0313 199,000.00 197,072.19 15,223.50 . 214,223.50 6.10% 5.100% 4,933.54 Merrill 1,927.81 0.00 230 197,75625 0.41% 1.51 Subtow 476,054.07 466,33321 23,016.56 491,277.57 4,933.54 1,927.61 0.00 subtotal 469,524.91 0.96% 2.40 Fund 231-Polls DEA(Stats) LOGIC WA 100.0000 (0.00) (0.00) 0 (0.00) 6.36% LOGIC 231 (0.00) 0.00% 0.00 City of Euless Investment by Fund As of June 30,2000 Investment Type Institution LOGIC Local GOIA Pod FNMA Fed.Narl Mort.Assoc. FHLB Fed.Home Loan Bank FGIC Financial Investors Trst FSW First Southwest LNDMRK Landmark Bank FGIC Money Merkel Pod FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mort.Corp. Vining Vining Sparks Merrill Merrill Lynch LOGIC Local Gov't Investment Cooperative SLMA Student Loon Mort Assoc TNOTE Treasury Note CD Certificate of Deposit BANCONE Banc One Capital Everen Everen Securities Cost Accrued Inv. Cusip Purchase TeMaturity Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seiler Market %of Term Iia Number Dft (in dgys Q t4 Per 5100 Value (Prin.Only) dD me Int.@ Mary Mature Bata Purchased IOt;L Discou0t Premium Fund Value Portfolio Fund 232-FTN DEA Task Force LOGIC WA 100.0000 48,433.23 48,43323 48,433.23 6.36% LOGIC 232 40,433.23 0.10% 0.00 Fund 23441ZW 97 LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.36% LOGIC 234 0.00 0.00% 0.00 Fund 2354AXM N LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.36% LOGIC 235 0.00 0.00% 0.00 Fund 240-Car Rental Fund LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.36% LOGIC 240 0.00 0.00% 0.00 FNMA 31W4CHX9 08/2800 399 08/07/01 99.6650 700,000.00 697,655.00 70,245.00 770,245.00 7.00% 6.690% 20,962.00 FSW 2,680.00 240 699,343.75 1.47% 5.86 Subtotal 700,000.00 697,655.00 70,245.00 770,245.00 20,962.00 2,680.00 0.00 subtotal 699,343.75 1.47% 5.86 Fund 301-DeveloiWe Escrow LOGIC WA 100.0000 2,498.05 2,496.05 2,496.05 6.36% LOGIC 301 2,496.05 0.01% 0.00 I= WA 100.0000 0.00 0.00 0.00 6.53% FGIC 301 0.00 0.00% 0.00 FHLB 3133M7GY6 02Me199 540 08/18/00 100.0000 300,000.00 300,000.00 22,500.00 322,500.00 5.00% 5.000% FSW 301 299,343.75 0.61% 3.31 FNMA 313589888 07/22100 339 0126MI 942653 300,000.00 282,795.75 17,20425 300,000.00 6.47% JWG 301 288,625.00 0.58% 1.96 FNMA 31384WY3 0420/00 318 03/08/01 99.3438 500,000.00 496,718.75 28,600.00 528,600.00 6.49% 5.720% 3,336.67 JWG 3,281.25 301 496,562.50 1.02% 325 Subtotal 1,102,496.05 1,082,010.55 68,30425 1,153,596.05 3,336.67 3,281.25 0.00 subtotal 1,087,027.30 222% 8.52 Fund 3054hreets CIP I rlO(iIC WA 100.0000 3,762,569.85 3,762,569.85 0.00 3,762,569.85 6.36% LOGIC 305 3,762,569.85 7.69% 0.00 apFNMA 31364 = 01/25100 235 0920/00 100.0000 200,000.00 200,000.00 12,220.00 212,220.00 6.09% 6.110% 4,243.06 Banc One 0.00 0.00 305 199,750.00 0.42% 0.98 FHLB 3133MA3H0 01/31100 265 1025100 99.8200 500,000.00 499,100.00 30,200.00 530,200.00 6.20% 6.040% 8,053.33 FSW 900.00 0.00 305 498,515.63 1.04% 2.75 FNMA 31354GW 0120100 372 02102/01 98.6875 175,000.00 172,703.13 13,545.00 188,545.00 6.49% 5.160% 4,214.00 Merrill 2,296.87 0.00 305 173,414.06 0.36% 1.34 FHLMC 3134A2HW1 0116100 519 06/15/01 992500 400,000.00 397,000.00 36,000.00 436,000.00 6.55% 6.000% 1,400.00 FSW 3,000.00 0.00 305 396,875.00 0.81% 422 FHLB 313MAMW 01/07100 669 11/16/01 97.7188 100,000.00 97,718.75 10,490.00 110,490.00 6.56% 5.245% 743.04 Banc One 2,281.25 0.00 305 97,859.38 020% 1.35 sublDfel 5,137,569.85 5,129,091.72 102,455.00 5,240,024.85 18,653.43 8,478.12 0.00 subtotal 5,128,983.91 10.52% 10.64 Fund 31044aff Cont CIP LOGIC WA 100.0000 215,059.57 215,059.57 0.00 215,059.57 6.36% LOGIC 310 215,059.57 0.44% 0.00 FGIC WA 100.0000 247,208.05 247,208.05 0.00 247,208.05 6.53% FGIC 310 247,208.05 0.51% 0.00 FNMA 313569BBS 0222100 339 0126101 942653 700,000.00 659,856.75 40,14325 700,000.00 6.47% JWG 310 673,458.33 1.35% 4.57 Sublotal 1,162,267.61 1,122,124.36 40,14325 1,162,267.61 0.00 0.00 0.00 subtotal 1,135,725.94 229% 4.57 Fund 320-G.O.CIP-FIre Station LOGIC WA 100.0000 96,910.15 96,910.15 96,910.15 6.36% LOGIC 320 96,910.15 020% 0.00 Texpool. WA 100.0000 0.00 0.00 0.00 6.36% Texpool 320 0.00 0.00% 0.00 Subtotal 96,910.15 96,910.15 96,910.15 0.00 0.00 0.00 subtotal 96,910.15 020% 0.00 Fund 325•Po6ea Faelllly CIP LOGIC WA 100.0000 8,772.24 8,772.24 8,772.24 6.36% LOGIC 325 8,772.24 0.02% 0.00 Tax" WA 100.0000 8,549,661.09 8,549,661.09 8,549,661.09 6.36% Texpod 325 8,549,661.09 17.47% 0.00 FNMA 3135eem 0214100 181 0813100 97.0688 500,000.00 485,344.03 14,655.97 500,000.00 6.11% FSW 325 496,968.33 0.99% 1.79 Subliotal 9,058,433.33 9,043,777.36 14,655.97 9,058,433.33 0.00 0.00 0.00 subtotal 9,055,401.66 18.48% 1.79 Fund 4014DsbtSontce, LOGIC WA 100.0000 446,784.56 446,784.56 446,784.56 6.36% LOGIC 401 446,784.56 0.91% 0.00 Texpod WA 100.0000 65,898.21 65,89821 65,89821 6.36% Texpod 401 65,89821 0.13% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.53% FGIC 401 0.00 0.00% 0.00 Subtotal 512,682.77 512,682.77 0.00 512,682.77 0.00 0.00 0.00 subtotal 512,682.77 1.05% 0.00 Fund 402Sfar Center Debt Service Twwol WA 100.0000 345,27827 345,278.27 345,278.27 6.36% Texpool 402 345,278.27 0.71% 0.00 Subtotal 345,27827 345,278.27 0.00 345,27827 0.00 0.00 0.00 subtotal 345,278.27 0.71% 0.00 Fund 410-EDC Debt Service LOGIC WA 100.0000 8,351.01 8,351.01 8,351.01 6.36% LOGIC 410 8,351.01 0.02% 0.00 Subtotal 8,351.01 8,351.01 0.00 8,351.01 0.00 0.00 0.00 subtotal 8,351.01 0.02% 0.00 As of June 30,2000 Irrve In ntTypa Inatitutlon OK LOLocal Govt pool FNMA Fed.Nati Mort.Assoc. FHLB Fed.Home Loan Bank FGIC Flnanadel Investors Trat FSW First Southwest LNDMRK Landmark Bank FGIC Money Marlret Pod FFCB Fed.Fane Credit Bank FMAC Fed.Home Loan Mort.Corp. Vining Vinke Sparks Merrill Merrill Lynch LOGIC Local Gott Investment Cooperative SLMA Student Loan Mort Assoc TNOTE Treasury Note CD Certificate of Deposit BANCONE Banc One Capital Everen Everen Securities Cost Accrued Inv. Cuslp Pudase Terre Maturity Price Par Book Value Interest Total Prin.• Yield To Coupon Interest Seller Market %of Ilton HUMbK Qa fin days QM2 Per 2100 Velue IEdO.SnhA 11)ID8L1C Int.91)Me tY malur! Bet4 Purchased IDSL Discount mum Eund It" Et1rgatln Wo Fund SM-YVatm and Sawer LOGIC WA 100.0000 196,879.55 196,879.55 196,879.55 6.36% LOGIC 501 196,879.55 0.40% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.53% LOGIC 501 0.00 0.00% 0.00 FHLB 3133M9OF8 12rd0199 187 07/07/00 99.7213 500,000.00 498,606.75 27,700.00 527,700.00 6.09% 5.540% 13,311.39 Vining 1,393.26 501 499,921.88 1.05% 1.96 FHLB 3133MT499 01M5199 539 07/14/00 100.0000 1,000,000.00 1,000,000.00 77,855.56 1,077,855.56 5.20% 5.200% Everen 501 999,687.50 2.04% 11.01 FHLB 313384840 02M1/00 180 08/09/00 97.0950 250,000.00 242,737.50 7,262.50 250,000.00 6.08% Banc One 501 248,216.67 0.50% 0.89 FNMA 31364FATO WrMW 168 09/18100 99.8763 500,000.00 499,38125 15,350.00 515,350.00 6.40% 6.140% 1,023.33 Vining 618.75 501 499,375.00 1.02% 1.72 FHLB 3133MBTE4 08103199 478 120100 992813 330,000.00 327,628.13 26,037.00 356,037.00 5.82% 5.260% 2,989.43 Banc One 2,371.87 501 327,989.06 0.88% 323 FNMA 31384GLY3 11104199 408 124=1 99.0625 500,000.00 495,312.50 38,625.00 538,625.00 6.01% 5.150% 9,441.67 FSW 4,687.50 0.00 501 496,40625 1.03% 421 FHLB 3133850HO 0211700 356 02/01/01 93.9876 500,000.00 469,937.78 30,06222 500,000.00 6.47% Merrill 501 480,500.00 0.96% 3.42 FHLB 313LUMA 08MM99 540 02/16/01 100.0000 500,000.00 500,000.00 45,225.00 545,225.00 6.03% 6.030% Everen 501 497,656.25 1.02% 5.52 FHLMC 3134A30B1 0511200 289 03101/01 98.7290 1,000,000.00 987,290.00 53,750.00 1,053,750.00 7.02% 5.375% 10,600.69 JWG 12,710.00 501 990,937.50 2.04% 5.89 FHLB 3133MOM 02104100 422 040601 99.3438 500,000.00 496,718.75 45,150.00 545,150.00 6.60% 6.020% 9,866.11 Merrill 3,281.25 501 496,875.00 1.03% 4.37 FNMA 31354KMDO 04011M 358 04/26/01 99.9420 500,000.00 499,710.00 32,850.00 532,850.00 6.63% 6.570% 182.50 JWG 290.00 501 498,90625 1.02% 3.66 FNMA 31384CH)M 0825100 399 08/07/01 99.6650 100,000.00 99,665.00 10,035.00 110,035.00 7.00% 6.690% FSW 501 99,906.25 020% 0.82 FH MC 3134A24C9 050300 464 08/17/01 97.9688 500,000.00 489,643.75 40,312.50 540,312.50 7.04% 5.375% 5,673.61 FSW 10,156.25 501 491,875.00 1.01% 4.70 SubWW 6,876,879.55 6,803,710.95 450,214.78 7,289,769.60 53,088.73 35,508.88 0.00 subtotal 6,825,132.15 14.01% 51.38 Fund 502-W&S CIP LOGIC WA 100.0000 3,188,010.90 3,188,010.90 3,188,010.90 6.36% LOGIC 502 3,188,010.90 6.51% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.53% FGIC 502 0.00 0.00% 0.00 FNMA 31384GHW2 11109199 380 11/29/00 99.1094 500,000.00 495,546.88 38,250.00 538,250.00 5.98% 5.100% 11,333.33 Merrill 4,453.12 0.00 502 496,875.00 1.04% 3.94 FHLB 312902R87 0126/00 716 0122102 100.0000 500,000.00 500,000.00 68,600.00 568,600.00 6.86% 6.860% 476.39 JWG 0.00 0.00 502 498,90625 1.02% 7.32 Subtotal 4,188,010.90 4,183,557.78 106,850.00 4,294,860.90 11,809.72 4,453.12 0.00 subtotal 4,183.792.15 8.57% 11.26 r Fund 51154Nater Impact Fees LOGIC WA 100.0000 506,309.19 506,309.19 506,309.19 6.36% LOGIC 505 506,309.19 1.03% 0.00 FDIC WA 100.0000 0.00 0.00 0.00 0.00 6.53% FGIC 505 0.00 0.00% 0.00 FHLB 3133MTG" 02118199 540 08/18/00 100.0000 300,000.00 300,000.00 22,500.00 322,500.00 5.00% 5.000% FSW 505 299,343.75 0.61% 3.31 FHLB 3133MAMF3 /125100 720 0125/02 100.0000 500,000.00 500,000.00 68,100.00 568,100.00 6.81% 6.810% 0.00 JWG 0.00 0.00 505 498,125.00 1.02% 7.36 Subtotal 1,306,309.19 1,306,309.19 90,600.00 1,398,909.19 0.00 0.00 0.00 subtotal 1,303,777.94 2.67% 10.66 Fund 906 WU Debt Saha LOGIC WA 100.0000 28,27524 28,27524 28,275.24 6.36% LOGIC 506 28,27524 0.06% 0.00 SubWd 28,27524 28,27524 0.00 28,27524 subtotal 28,27524 0.06% 0.00 Fund Som"Emarpancy LOGIC WA 100.0000 0.00 0.00 0.00 6.36% LOGIC 507 0.00 0.00% 0.00 FMAC 3134A3TE5 0807/99 1080 06/07/02 100.0000 500,000.00 500,000.00 90,000.00 590,000.00 6.00% 6.000% Everen 507 491,171.88 1.02% 11.03 Subtotal 500,000.00 500,000.00 90,000.00 590,000.00 subtotal 491,171.88 1.02% 11.03 Fund 5084ftstawaM hnpact Fees LOGIC WA 100.0000 5,947.32 5,947.32 5,947.32 6.36% LOGIC 508 5,947.32 0.01% 0.00 FHLB 313393VR8 0629100 263 032201 99.4685 500,000.00 497,342.38 30,800.00 530,800.00 6.90% 6.160% 8,298.89 DW 2,657.62 508 497,65625 1.03% 2.72 FHLB 313385EP7 042600 357 042001 93.8021 500,000.00 469,010.42 30,989.58 500,000.00 6.65% MERRILL 508 473,458.33 0.98% 3.42 FHLB 3133M4RX3 04119/00 423 0822101 98.8870 250,000.00 247217.50 21,037.50 271,037.50 6.60% 5.610% 4,558.13 IANC ONE 2,782.50 508 247,070.31 0.51% 2.18 SubftW 1,255,947.32 1,219,517.62 82,827.08 1,307,784.82 12,857.02 5,440.12 0.00 subtotal 1,224,132.22 2.52% 8.31 Fund 510-0rahrage LOGIC WA 100.0000 104,607.15 104,607.15 104,607.15 6.36% LOGIC 510 104,607.15 021% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.53% FGIC 510 0.00 0.00% 0.00 FNMA 313SIMM 0802199 354 072100 94.7588 500,000.00 473,794.17 26,205.83 500,000.00 5.64% Merrill 510 498,127.50 0.97% 3.43 Subil" 604,607.15 578,401.31 26,205.83 604,607.15 0.00 0.00 0.00 subtotal 602,734.65 1.18% 3.43 Fund 5114)rakrpa CIP LOGIC WA 100.0000 207,020.08 207,020.08 207,020.08 6.36% LOGIC 511 207,020.08 0.42% 0.00 FGIC WA 100.0000 105,712.71 105,712.71 0.00 105,712.71 6.53% FGIC 511 105,712.71 0.22% 0.00 Subs 312,732.79 312,732.79 0.00 312,732.79 0.00 0.00 0.00 subtotal 312,732.79 0.64% 0.00 Fund 52041taerwtlon Classes LOGIC WA 100.0000 100,531.57 100,531.57 100,531.57 6.36% LOGIC 520 100,531.57 021% 0.00 City of Euless Investment by Fund As of June 30,2000 Imresbrrsrrt Type Institution LOGIC Local Gott Pod FNMA Fed.Net'I Mort.Assoc. FHLB Fed.Home Loan Bank FGIC- Financial Investors Trait FSW First Southwest LNDMRK Landmark Bank FGIC Moray Msbt Pool FFCB Fed.Faun Credit Bank FMAC Fed.Home Loan Mort.Corp. Vining Vining Sparks Merritt Merrill Lynch LOGIC Local Govt Investment Cooperative SLMA Student Loan Mort Assoc TNOTE Treasury Note CD Certificate of Deposit BANCONE Banc One Capital Everen Everen Securities Cost Accrued Inv. Cusip Purdrsse Tenn Maturity Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Market %of M= Number Qft IID days Rale Per 5100 Yalue (Prin.Ontvl &MaN Int.lb Ma t'v Maturity Bate Purchased IDSL Discou0t Premium Eund Y h& Portfolio 3UM Fund 521-Arbor Dae LOGIC WA 100.0000 176,786.56 176,786.56 176,786.56 6.36% LOGIC 521 176,786.56 0.36% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 0.00 6.53% FGIC 521 0.00 0.00% 0.00 Subtotal 176,786.56 176,786.56 0.00 176,786.56 0.00 0.00 0.00 subtotal 176,786.56 0.36% 0.00 Fund 530-Soflball World4*9rating LOGIC WA 100.0000 408,034.08 408,034.08 0.00 408,034.08 6.36% LOGIC 530 408,034.08 0.83% 0.00 FGIC WA 100.0000 1,746.51 1,746.51 0.00 1,746.51 6.53% FGIC 530 1,746.51 0.00% 0.00 CD 0423100 365 0423/01 100.0000 5,000.00 5,000.00 0.00 5,000.00 5.50% 5.500% Landmark 530 5,000.00 0.01% 0.04 Subtotal 414,780.59 414,780.59 0.00 414,780.59 0.00 0.00 0.00 subtotal 414,780.59 0.85% 0.04 Fund NJ-Softball World-CIP&Debt LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.36% LOGIC 531 0.00 0.00% 0.00 Fund 54044 Comae LOGIC WA 100.0000 79,571.12 79,571.12 79,571.12 6.53% LOGIC 540 79,571.12 0.16% 0.00 Taxpod WA 100.0000 185,556.93 185,556.93 185,556.93 6.53% Texpool 540 185,556.93 0.38% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.53% FGIC 540 0.00 0.00% 0.00 Subtotal 265,128.05 265,128.05 0.00 265,128.05 0.00 0.00 0.00 subtotal 265,128.05 0.54% 0.00 Fund=4nimss 11 A#d*M Complex LOGIC WA 100.0000 57,797.83 57,797.83 0.00 57,797.83 6.36% LOGIC 551 57,797.83 0.12% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 0.00 6.53% FGIC 551 0.00 0.00% 0.00 57,797.83 57,797.83 0.00 57,797.83 0.00 0.00 0.00 subtotal 57,797.83 0.12% 0.00 tV 101-Equlprnant RphesmeM LOGIC WA 100.0000 894.74 894.74 894.74 6.36% LOGIC 601 894.74 0.00% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.53% FGIC 601 0.00 0.00% 0.00 FHLB 3133W7GY6 02/18199 540 08/18100 100.0000 200,000.00 200,000.00 15,000.00 215,000.00 5.00% 5.000% FSW 601 199,562.50 0.41% 221 FNMA 31358SM28 0428100 181 1026/00 96.8828 250,000.00 242,206.94 7,793.06 250,000.00 6.51% BANC ONE 601 244,714.58 0.49% 0.90 Subtotal 450,894.74 443,101.69 22,793.06 465,894.74 0.00 0.00 0.00 Subtotal 445,171.82 0.91% 3.10 Fund 6104nsuranos LOGIC WA 100.0000 18,083.12 18,083.12 18,083.12 6.36% LOGIC 610 18,083.12 0.04% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.53% FGIC 610 0.00 0.00% 0.00 FMAC 312902LU1 0428100 263 01/16101 95.4507 300,000.00 286,352.16 13,647.84 300,000.00 6.60% FSW 610 289,166.67 0.59% 1.54 sublotat 318.083.12 304,43528 13,647.84 318,083.12 subtotal 307,249.78 0.62% 1.54 Fund 615*Jsk Mamgemark LOGIC WA 100.0000 89,356.67 89,356.67 89,356.67 6.36% LOGIC 615 89,356.67 0.18% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.53% FGIC 615 0.00 0.00% 0.00 FNMA 313588M 03/30100 168 09/14100 97.1720 500,000.00 485,860.00 14,140.00 500,000.00 6.34% FSW 615 493,212.78 0.99% 1.67 Subktd 589,356.67 575,216.67 14,140.00 589,356.67 0.00 0.00 0.00 subtotal 582,569.45 1.18% 1.67 Fund 7054)allas Stars Escrow Reserve Te)od WA 100.0000 1,962,511.48 1,962,511.48 1,962,511.48 6.36% Texpool 705 1,962,511.48 4.01% 0.00 Fund 710-FW DEA Task Force Trust and Agency LOGIC WA 100.0000 0.00 0.00 0.00 6.36% LOGIC 710 0.00 0.00% 0.00 TOTAL 49,192,188.03 48,775,551.86 1,931,891.76 50,791,064.08 169,887.18 83,620.43 0.00 TOTAL 48,891,748.76 100.00% 222.02 M mcly4 M M M M M M M M M krvaWmat by Fund As of September 30,2000 Invaabnant Type Institution LOGIC Local Govt Pod FNMA Fed.Non Mort.Assoc. FHLB Fed.Home Loan Bank JWG JW Genesis FSW First Southwest LNDMRK Landmark Bank FOIL Money What pod FFCS Fed.Fenn Credl Bank FMAC Fed.Home Loan Mort.Corp. Vlf ft Vining Sparks Merrill Merrill Lynch LOGIC Local Gov't Investment Cooperative Texpod Local Gov't pod TNOTE Treasury Note CD Certifk:ate of Deposit BencOne Banc One Capital Everen Everen Securities FGIC Financial Investors Trust Duncan Duncan Williams Texpool TEXPOOL Cost Accrued Inv. Cuelp PtmdMs Term Maturity Prim Per Book Value Interest Total Prin.* Yield To Coupon Interest Seller Market %of MnhK Uft (in days1 gats per 5700 yalua (Prin.Only) 91)meCy Int.f1i Mari Maturity Ba(a Purchased )OSL Discount Premium Eund Xahm Portillow Wm Fund 101dianeral Fund LOGIC WA 100.0000 2,105.19 2,105.19 2,105.19 6.48% LOGIC 101 2,105.19 0.00% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 101 0.00 0.00% 0.00 FHLB 3133MAAER 12MSM 318 11/03/00 99.9500 465,000.00 464,767.50 28,132.50 493,132.50 6.10% 6.050% 3,282.13 Banc One 232.50 0.00 101 465,000.00 0.95% 3.03 FHLB 3133M8124 05117/99 540 11/17100 100.0000 500.000.00 500,000.00 39,000.00 539,000.00 520% 5.200% 0.00 FSW 0.00 101 499,218.75 1.02% 5.49 FNMA 3138400MS 01107100 310 11/17/00 99.1905 500,000.00 495,952.72 25,900.00 525,900.00 6.15% 5.180% 3,597.22 Vining 4,047.28 0.00 101 499,218.75 1.02% 3.15 FHLB 31MOANVE1 08107/99 540 12107/00 100.0000 500.000.00 500,000.00 40,237.50 540,237.50 5.37% 5.365% Everen 101 498,90625 1.02% 5.49 FMAC 312902Ltn 0428100 283 01/16/01 9SA507 200,000.00 190,901.44 9,098.55 200,000.00 6.60% FSW 101 196,142.00 0.39% 1.02 FNMA 31354MM 05/15/00 257 02/02/01 96.9817 500,000.00 494,908.69 27.500.00 527,500.00 6.97% 5.500% 7,868.06 FSW 5,091.32 101 496,437.50 1.02% 2.63 FHLB 3133e" 051`12100 360 05107/01 93.4100 750,000.00 700,575.00 49,425.00 750,000.00 7.03% Merrill 101 721.25625 1.42% 5.13 FNMA 31354KNK2 051`17100 380 05/17/01 99.9350 1,000.000.00 999.350.00 70,000.00 1,070,000.00 7.07% 7.000% 0.00 Banc One 650.00 101 1,002,500.00 2.03% 7.31 FHLB 3133MAST7 02112100 540 0822/01 100.0000 500.000.00 500.000.00 52,500.00 552,500.00 7.00% 7.000% JWG 101 500.000.00 1.02% 5.49 FHLB 3133MC.AZO 0628100 380 09/26/01 100.0000 325,000.00 325,000.00 21,125.00 346,125.00 6.50% 6.500% JWG 101 325,000.00 0.68% 2,38 FHLB 3133M5R77 01113100 822 10/05/01 98.1560 500.000.00 490,760.00 55.930.00 555,930.00 6.73% 5.593% 7,612.69 FSW 9,220.00 0.00 101 495,468.75 1.01% 6.30 Willow 5,742,105.19 5,664,340.53 418,848.56 6,102,430.19 22,360.10 19,241.10 0.00 subtotal 5,703,253.44 11.56% 47.40 Fund 102.Oanarall F nrd-Emargeney FHLB 3133MSBF4 11104/98 900 05/04/01 100.0000 500,000.00 500.000.00 64.000.00 564.000.00 5.12% 5.120% Everen 102 495,78125 1.02% 9.15 Fund 1034anaral Fund Contingency e FHLB 3133M8BF4 11/04/95 900 05/04/01 100.0000 500,000.00 500.000.00 64,000.00 564.000.00 5.12% 5.120% Everen 103 495,781.25 1.02% 9.15 Fund 201411otaYMotel ( LOGIC WA 100.0000 145,535.57 145,535.57 145,535.57 6.48% LOGIC 201 145,535.57 0.30% 0.00 rFGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 201 0.00 0.00% 0.00 ( subtotal 145,535.57 145,535.57 0.00 145,535.57 subtotal 145,535.57 0.30% 0.00 Fund 210-Haff Cant Operations LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.48% LOGIC 210 0.00 0.00% 0.00 FGIC WA 100.0000 (0.00) (0.00) 0.00 (0.00) 6.59% FGIC 210 (0.00) 0.00% 0.00 FNMA 313589M 12108/99 359 12/01/00 94.4056 250,000.00 236,013.96 13,986.04 250,000.00 5.95% Merrill 210 247,231.53 0.48% 1.72 FHLB 3133M94K5 11102/99 403 12115/00 99.7500 500,000.00 498,750.00 43,125.00 543,125.00 5.98% 5.750% 10,940.97 Banc One 1,250.00 0.00 210 499,218.75 1.04% 4.17 Sublolal 750,000.00 734,763.95 57,111.04 793,125.00 10,940.97 1,250.00 0.00 subtotal 746,45027 1.52% 5.90 Fund 211-1tati Cant Reaarw FGIC WA 100.0000 966.180.17 966,180.17 0.00 966,180.17 6.59% FGIC 211 966,180.17 1.96% 0.00 Fund 220 kMw Control and Pray- n LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.48% LOGIC 220 0.00 0.00% 0.00 FGIC WA 100.0000 74,400.87 74,400.87 0.00 74,400.87 6.59% FGIC 220 74,400.87 0.15% 0.00 FNMA 31350t1R64 12108/99 359 12/01/00 94.4056 250,000.00 236,013.96 13,986.04 250,000.00 5.95% Merrill 220 247.231.53 0.48% 1.72 Subtotal 324,400.87 310,414.82 13,986.04 324,400.87 0.00 0.00 0.00 subtotal 321,632.39 0.63% 1.72 Fund 23040ollce DEA(FederaQ LOGIC WA 100.0000 62,877.91 62,877.91 62,877.91 6.48% LOGIC 230 62,877.91 0.13% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 230 0.00 0.00% 0.00 FNMA 313588M2t1 0428/00 181 1026/00 98.8828 250,000.00 242,206.94 7,793.06 250,000.00 6.51% BANC ONE 230 248,839.03 0.49% 0.89 FNMA 31364GHW2 1124199 365 1129/00 99.0313 199,000.00 197,072.19 15,223.50 214,223.50 6.10% 5.100% 4,933.54 Merrill 1,927.81 0.00 230 198,564.69 0.41% 1.50 Subtotal 511,877.91 502,157.04 23,016.56 527,101.41 4,933.54 1,927.81 0.00 subtotal 510,281.62 1.03% 2.39 Fund 231-FoBea DEA(Stats) LOGIC WA 100.0000 4,975.81 4,975.81 4,975.81 6.48% LOGIC 231 4,975.81 0.01% 0.00 Fund 232*TW DEA Tm*Force LOGIC WA 100.0000 0.00 0.00 0.00 6.48% LOGIC 232 0.00 0.00% 0.00 Fund 2344122 97 LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.48% LOGIC 234 0.00 0.00% 0.00 City of EW M Investment by Fund As of September 30,2000 Invesfm*nrt Type Institution LOOK Local GWA Pool FNMA Fed.NaCl Mort.Assoc. FHLB Fed.Home loan Bank JWG JW Genesis FSW First Soudwiest LNDMRK Landmark Bank FGIC Money Market Pod FFCB Fed.Fane Credit Bank FMAC Fed.Home Loan Mort.Corp. V11" Vining Sparks Merrill Merrill Lynch LOGIC Local Govt Investment Cooperative TOP)d Local Gov-t Pod TNOTE Treasury Note CD Certificate of Deposit BencOne Banc One Capital Everen Everen Securities FGIC Financial Investors Trust Duncan Duncan Williams Texpool TEXPOOL Cost Accrued Inv. Cuslp Purelrse Tenn Maturity Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Market %of L= pft (in days l DaI2 Per E100 Vslue (Prin.Only) ID maty Int,lb Mat! Mated Bft Purchased 1113, Discount Premium Eund Yam Porff 114 lt1(W Fund 2354.11LEBG 96 LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.48% LOGIC 235 0.00 0.00% 0.00 Fund 240-Car Rental Fund LOGIC WA 100.0000 1,415,060.85 1,415,060.85 0.00 1,415,060.85 6.48% LOGIC 240 1,415,060.85 2.88% 0.00 FNMA 31364GXW4 0622100 197 03/09/01 99.4145 500,000.00 497,072.50 28,000.00 528,000.00 6.70% 5.600% 12,677.78 Duncan 2,927.50 240 498,125.00 1.04% 2.04 FHLB 3133MBEJ2 0010x100 257 0426101 99.9280 500,000.00 499,640.00 32,500.00 532,500.00 6.59% 6.500% 9,298.61 BancOne 360.00 240 499,687.50 1.03% 2.66 FMAC 313393 06)01/00 342 07/19)01 94.0450 500,000.00 470,225.01 29,774.99 500,000.00 6.65% FSW 240 474,450.00 0.96% 3.27 FNMA 31354CHDM 06126100 399 08/07)01 99.6650 700,000.00 697,655.00 70,245.00 770,245.00 7.00% 6.690% 20,962.00 FSW 2,680.00 240 700,437.50 1.48% 5.82 FHLB 3133MCAZB 0926100 380 0928/01 100.0000 675,000.00 675,000.00 43,875.00 718,875.00 6.50% 6.500% JWG 240 675,000.00 1.37% 4.94 Subtotel 4,290,060.85 4,254,653.36 204,394.99 4,464,680.85 42,938.39 5,967.50 0.00 subtotal 4,262,760.85 8.73% 18.73 Fund 301-Dewbpsr9 Escrow LOGIC WA 100.0000 2,536.70 2,536.70 2,536.70 6.48% LOGIC 301 2,536.70 0.01% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 301 0.00 0.00% 0.00 FNMA 313589886 02/22/00 339 0126101 942653 300,000.00 282,795.75 17,204.25 300,000.00 6.47% JWG 301 293,677.17 0.57% 1.95 FNMA 313548M 0420100 318 03108MI 99.3438 500,000.00 496,718.75 28,600.00 528,600.00 6.49% 5.720% 3,336.67 JWG 3,281.25 301 498,28125 1.02% 3.23 FNMA 31359MEFS 0611100 424 10/15/01 97.7031 225,000.00 219,832.03 15,609.38 240,609.38 6.68% 4.625% 3,353.13 Merrill 5,167.97 301 220,921.88 0.45% 1.92 Subtotal 1,027,536.70 1,001,88323 61,413.63 1,071,746.08 6,689.80 8,449.22 0.00 subtotal 1,015,416.99 2.05% 7.10 Fund 305S6eets CIP LOGIC WA 100.0000 3,624,441.32 3,624,441.32 0.00 3,624,441.32 6.48% LOGIC 305 3,624,441.32 7.37% 0.00 FHLB 3133MA3H0 01131/00 265 10251'00 99.8200 500,000.00 499,100.00 30,200.00 530,200.00 620% 6.040% 8,053.33 FSW 900.00 0.00 305 500,000.00 1.03% 2.73 FMAC 31339MM 0610X00 175 02)01)01 96.9181 100,000.00 96,918.06 3,081.94 100,000.00 6.65% JWG 305 97,78522 020% 0.34 (�,^�^��^ 31354GRKF 0120100 372 02/02/01 96.6875 175,000.00 172,703.13 13,545.00 188,545.00 6.49% 5.160% 4,214.00 Merrill 2,296.87 0.00 305 174,234.38 0.36% 1.34 FHLMC 3134A2HW1 01)0600 519 0615/01 992500 400,000.00 397,000.00 36,000.00 436,000.00 6.55% 6.000% 1.400.00 FSW 3,000.00 0.00 305 398,500.00 0.81% 420 FHLB 3133MWW 01107000 669 11/16101 97.7188 100,000.00 97,718.75 10,490.00 110,490.00 6.56% 5.245% 743.04 Banc One 2,28125 0.00 305 98,625.00 0.20% 1.34 Sublold 4,899,441.32 4,887,88125 93,316.94 4,989,676.32 14,410.37 8,478.12 0.00 subtotal 4,893,585.92 9.96% 9.95 Fund 31041aR Cent CIP LOCK: WA 100.0000 202,039.59 202,039.59 0.00 202,039.59 6.48% LOGIC 310 202,039.59 0.41% 0.00 FGIC WA 100.0000 251,144.07 251,144.07 0.00 251,144.07 6.59% FGIC 310 251,144.07 0.51% 0.00 FNMA 313589886 0222/00 339 0126/01 942653 700,000.00 659,856.75 40,14325 700,000.00 6.47% JWG 310 685,246.72 1.34% 4.55 Subs 1,153,183.67 1,113,040.42 40,14325 1,153,183.67 0.00 0.00 0.00 subtotal 1,138,430.39 226% 4.55 Fund 320-G.0.CIP-Fks Station LOGIC WA 100.0000 98,54624 98,54624 98,54624 6.48% LOGIC 320 98,54624 020% 0.00 Texpod WA 100.0000 0.00 0.00 0.00 6.48% Texpool 320 0.00 0.00% 0.00 Subtotal 98,546.24 98,546.24 98,546.24 0.00 0.00 0.00 subtotal 98,546.24 0.20% 0.00 Fund 3254ko6es Faelllty CIP LOGIC WA 100.0000 8,915.11 8,915.11 8,915.11 6.48% LOGIC 325 8,915.11 0.02% 0.00 T04W WA 100.0000 7,837,397.94 7,837,397.94 7,837,397.94 6.48% Texpool 325 7,837,397.94 15.93% 0.00 FHLB 313385BPO 0611)00 100 02)07)01 96.8250 500,000.00 484,125.00 15,875.00 500,000.00 6.67% Merrill 325 488,39028 0.98% 1.77 FHLB 3133MAVLO 0614100 181 02/15)01 99.9000 510,000.00 509,490.00 33,124.50 543,124.50 6.70% 6.495% 16,47024 FSW 510.00 325 510,000.00 1.07% 1.93 FMAC 31339REN3 0610000 343 07/19101 94.0547 500,000.00 470,273.33 29,726.67 500,000.00 6.62% JWG 325 474,450.00 0.96% 328 yyrli 9,356,313.05 9,310,201.38 78,726.17 9,389,437.55 16,470.24 510.00 0.00 subtotal 9,319,153.33 18.96% 6.98 Fund 401-Debt 3ervks LOGIC WA 100.0000 251,889.39 251,889.39 251,889.39 6.48% LOGIC 401 251,889.39 0.51% 0.00 Texpool WA 100.0000 67,031.11 67,031.11 67,031.11 6.48% Texpool 401 67,031.11 0.14% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 401 0.00 0.00% 0.00 Subtotal 318,920.50 318,920.50 0.00 318,920.50 0.00 0.00 0.00 subtotal 318,920.50 0.65% 0.00 Fund 402-Star Center Debt Service Texpool WA 100.0000 351,006.18 351,006.18 351,006.18 6.48% Texpool 402 351,006.18 0.71% 0.00 Subtotal 351,006.18 351,006.18 0.00 351,006.18 0.00 0.00 0.00 subtotal 351,006.18 0.71% 0.00 Fund 410-EDC Debt Service LOGIC WA 100.0000 0.00 0.00 0.00 6.48% LOGIC 410 0.00 0.00% 0.00 Subtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 subtotal 0.00 0.00% 0.00 _ _kwa�trnarK by Fund _ As of September 30,2000 Inveetrnarrt Type Institution LOGIC Loots OmA Pod FNMA Fed.NaCl Mort.Assoc. FHLB Fed.Home Loan Bank JWG JW Genesis FSW First Southwest LNDMRK Landmark Bank FDIC Money Merkel Pod FFCB Fed.Farm Credit Bank FMAC Fed.Ham.Loan Mort.Corp. VIC" Vining Sparks Merrill Merrill Lynch LOGIC Local Gov't Investment Cooperative Texpod Local GOO Pod TNOTE Treasury Note CD Certificate of Deposit BancOne Banc One Capital Everen Everen Securities FGIC Financial Investors Trust Duncan Duncan W Whams Texpool TEXPOOL Cost Accrued Inv. Cualp Purdaea Term MatuItty Prim Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Market %of I= Number Qft (in days t (tea Per$100 yaWa (Prin.Oniv1 teary Int.m Mafv qty BaW Purchased 101L Discount Premium Eund Alld porgow 1d" Fund 5014ftter and Sewer LOGIC WA 100.0000 225,49325 225,493.25 225,493.25 6.48% LOGIC 501 225,493.25 0.46% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% LOGIC 501 0.00 0.00% 0.00 FHLB 3133LICU 08103198 478 12101/'00 992813 330,000.00 327,628.13 26,037.00 356,037.00 5.82% 5260% 2,989.43 Banc One 2,371.87 501 329,278.13 0.97% 321 FNMA 31364GLY3 11/04199 408 12/22/00 99.0625 500,000.00 495,312.50 38,625.00 538,625.00 6.01% 5.150% 9,441.67 FSW 4,687.50 0.00 501 498,593.75 1.03% 4.19 FHLB 313385NO 02M1100 356 02(01/01 93.9876 500,000.00 469,937.78 30,06222 500,000.00 6.47% Merrill 501 488,926.11 0.96% 3.40 FNMA 3138461102 05%W 173 02/02/01 99.3750 150,000.00 149,062.50 4,125.00 154,125.00 6.84% 5.500% 160.42 Merrill 937.50 501 149,53125 0.30% 0.52 FHLB 313LOCA 0e1f8199 540 02/18/01 100,0000 500,000,00 500,000.00 45,225.00 545,225.00 6.03% 6.030% Everen 501 498,90625 1.02% 5.49 FHLMC 3134A3881 05112100 289 03101101 98.7290 1,000,000.00 987,290.00 53,750.00 1,053,750.00 7.02% 5.375% 10,600.69 JWG 12,710.00 501 995,000.00 2.03% 5.86 FHLB 3133MAZM4 07103100 252 03115101 99.9063 500,000.00 499,53125 33,750.00 533,750.00 6.75% 6.750% 10,125.00 JWG 468.75 501 500,000.00 1.04% 2.61 FHLB 3133M9YK2 02104M 422 04106101 99.3438 500,000.00 496,718.75 45,150.00 545,150.00 6.60% 6.020% 9,866.11 Merrill 3,281.25 501 498,593.75 1.03% 4.34 FNMA 31364KMD9 0428100 358 04128101 99.9420 500,000.00 499,710.00 32,850.00 532,850.00 6.63% 6.570% 182.60 JWG 290.00 501 500,000.00 1.02% 3.64 FNMA 3135MM 07/21100 357 07/13/01 93.8633 100,000.00 93,66325 6,336.75 100,000.00 6.80% Merrill 501 94,995.00 0.19% 0.68 FNMA 31354CHXB 0828100 399 08/07101 99.6650 100,000.00 99,665.00 10,035.00 110,035.00 7.00% 6.690% FSW 501 100,062.50 020% 0.81 FHLMC 3134A24C9 05103100 464 08/17101 97.9688 500,000.00 489,843.75 40,312.50 540,312.50 7.04% 5.375% 5,673.61 FSW 10,156.25 501 495,000.00 1.01% 4.67 FFCB 31331HG35 08/22/00 399 10101101 992597 635,000.00 630,299.36 57,150.00 692,150.00 6.70% 6.000% 14,922.50 FSW 4,700.64 501 631,825.00 1.31% 5.23 FHLB 3133M8,158 07113100 460 1123101 98.0748 500,000.00 490,374.00 41,250.00 541,250.00 7.00% 5.500% 3,819.44 Banc One 9,626.00 501 494,375.00 1.00% 4.62 Subtotal 6,540,493.25 6,454,529.52 464,658.47 6,968,752.75 67,781.37 49,229.76 0.00 subtotal 6,500,579.99 1326% 4928 Fund 802-W&S CIP LOGIC WA 100.0000 2,309,103.59 2,309,103.59 2,309,103.59 6.48% LOGIC 502 2,309,103.59 4.69% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 502 0.00 0.00% 0.00 FNMA 31384GHW2 11109199 380 1129/00 99.1094 500,000.00 495,546.88 38,250.00 536,250.00 5.98% 5.100% 11,333.33 Merrill 4,453.12 0.00 502 498,906.25 1.03% 3.91 FHLB 312902887 o12e/00 716 0122/02 100.0000 500,000.00 500,000.00 68,600.00 568,600.00 6.86% 6.860% 476.39 JWG 0.00 0.00 502 500,15625 1.02% 728 W Srbldal 3,309,103.59 3,304,650.47 106,650.00 3,415,953.59 11,809.72 4,453.12 0.00 subtotal 3,308,166.09 6.74% 11.20 Fund 5054Na1er Mtgaet Fees LOGIC WA 100.0000 514,555.34 514,555.34 514,555.34 6.48% LOGIC 505 514,555.34 1.05% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 0.00 6.59% FGIC 505 0.00 0.00% 0.00 FMAC 313397M peA0100 175 02101101 96.9181 300,000.00 290,754.17 9,245.83 300,000.00 6.65% JWG 505 293,355.67 11.59% 1.03 FHLB 3133MAMF3 0125100 720 0125/02 100.0000 500,000.00 500,000.00 68,100.00 568,100.00 6.81% 6.810% 0.00 JWG 0.00 0.00 505 600,000.00 1.02% 7.32 Subtotal 1,314,555.34 1,305,309.50 77,345.83 1,382,655.34 0.00 0.00 0.00 subtotal 1,307,911.00 2.65% 6.35 Fund 508 MIIU DdK Service LOGIC WA 100.0000 28,767.90 28,767.90 28,767.90 6.48% LOGIC 506 28,767.90 0.06% 0.00 Subtotal 28,767.90 28,767.90 0.00 28,767.90 subtotal 28,767.90 0.06% 0.00 Fund 507-W&S Emergenry LOGIC WA 100.0000 0.00 0.00 0.00 6.48% LOGIC 507 0.00 0.00% 0.00 FMAC 3134A3TE8 08107/99 1080 06107/02 100.0000 500,000.00 500,000.00 90,000.00 590,000.00 6.00% 6.000% Everen 507 495,000,00 1.02% 10.98 Subtotal 500,000.00 500,000.00 90,000.00 590,000.00 subtotal 495,000.00 1.02% 10.98 Fund 60$*%stwrahr hnpect Fees LOGIC WA 100.0000 6,044.18 6,044.18 6,044.18 6.48% LOGIC 508 6,044.18 0.01% 0.00 FHLB 313390M 0829/00 283 0322/01 99.4685 500,000.00 497,342.38 30,800.00 530,800.00 6.90% 6.160% 8,298.89 DW 2,657.62 508 498,593.75 1.03% 2.70 FHLB 3133&5EP7 0428100 357 0420/01 93.8021 500,000.00 469,010.42 30,989.58 500,000.00 6.65% MERRILL 508 482,044.45 0.95% 3.40 FHLB 3133M4FUM 04/19100 423 08/22101 98.8870 250,000.00 247,217.50 21,037.50 271,037.50 6.60% 5.610% 4,568.13 ANC ONE 2,782.50 508 248,28125 0.51% 2.16 Subtotal 1,256,044.18 1,219,614.48 82,827.08 1,307,881.68 12,857.02 5,440.12 0.00 subtotal 1,234,963.63 2.50% 827 Fund 5100ahbe" LOGIC WA 100.0000 237,233.08 237,233.08 237,233.08 6.48% LOGIC 510 237,233.08 0.48% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 510 0.00 0.00% 0.00 FNMA 3135KW 0721100 357 07/13(01 93.6633 400,000.00 374,653.00 25,347.00 400,000.00 6.80% Merrill 510 379,980.00 0.78% 2.72 Sublotel 637,233.08 611,886.08 25,347.00 637,233.08 0.00 0.00 0.00 subtotal $17,213.08 124% 2.72 Fund 5114)rahutge CIP LOGIC WA 100.0000 210,391.78 210,391.78 210,391.78 6.48% LOGIC 511 210,391.78 0.43% 0.00 FGIC WA 100.0000 107,395.86 107,395.86 0.00 107,395.86 6.59% FGIC 511 107,395.86 022% 0.00 Subtotal 317,787.63 317,787.63 0.00 317,787.63 0.00 0.00 0.00 subtotal 317,787.63 0.65% 0.00 Gla of ELAM Invaslment by Fund As of September 30,2000 Investment Type Institution LOGIC Lod Gott Pod FNMA Fed.Nall Mart.Assoc. FHLB Fed.Home Loan Bank JWG JW Genesis FSW First Southwest LNDMRK Landmark Bank FGIC Money Merkel Pod FFCS Fed.Farm Credit Bank FMAC Fed.Home Loan Mart.Corp. Vining Vining Sparks Merrill Merrill Lynch LOGIC Local Gov't Investment Cooperative Texpool Local GoNt Pod TNOTE Treasury Note CD CertMcate of Deposit BancOne Banc One Capital Everen Everen Securities FGIC Financial Investors Trust Duncan Duncan Williams Texpod TEXPOOL Cost Accrued Inv. Cualp Pudmse Tenn Maturity Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Market %of IM Humber Q& (indSYs D& Per 5100 yAIM (Prin_OnNI JZ1i me C Int.911 Mary Mafud4( Bate purchased 102L Discount premium Eund Value aartralg W" Fund 520-Recreation Classes LOGIC WA 100.0000 102,168.91 102,166.91 102,168.91 6.48% LOGIC 520 102,168.91 021% 0.00 Fund 521-Arbor Dan LOGIC WA 100.0000 179,665.85 179,665.85 179,665.85 6.48% LOGIC 521 179,665.85 0.37% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 0.00 6.59% FGIC 521 0.00 0.00% 0.00 Subtotal 179,665.85 179,665.85 0.00 179,665.85 0.00 0.00 0.00 subtotal 179,665.85 0.37% 0.00 Fund W-Sortba5 WorldOperating LOGIC WA 100.0000 414,679.64 414,679.64 0.00 414,679.64 6.48% LOGIC 530 414,679.64 0.84% 0.00 FGIC WA 100.0000 1,774.32 1,774.32 0.00 1,774.32 6.59% FGIC 530 1,774.32 0.00% 0.00 FMAC 313397SH3 08RO/00 175 02/01/01 96.9181 100,000.00 96,918.06 3,081.94 100,000.00 6.65% JWG 530 97,78522 0.20% 0.34 CD 0423100 365 04/23101 100.0000 5,000.00 5,000.00 0.00 5,000.00 5.50% 5.500% Landmark 530 5,000.00 0.01% 0.04 Subtotal 521,453.96 518,372.02 3,081.94 521,453.96 0.00 0.00 0.00 subtotal 519,239.18 1.05% 0.38 Fund 58145ofthall WorkI4.V&Debt LOGIC WA 100.0000 0.00 0.00 0.00 0.00 6.48% LOGIC 531 0.00 0.00% 0.00 Fund 540-Goif Cassa LOGIC WA 100.0000 181,381.89 181,381.89 181,381.89 6.59% LOGIC 540 181,381.89 0.37% 0.00 Tax" WA 100.0000 0.00 0.00 0.00 6.59% Texpool 540 0.00 0.00% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 540 0.00 0.00% 0.00 FHLMC 3134AO)CB3 0822/00 195 03/07/01 99.5156 100,000.00 99,515.63 5,880.00 105,880.00 6.80% 5.880% 2,695.00 Merrill 484.37 540 99,687.50 021% 0.41 FNMA 3135%AAEF6 OW7/00 398 10/15MI 97.7656 50,000.00 48,882.81 3,468.75 53,468.75 6.75% 4.625% 912.15 Merrill 1,117.19 540 49,093.75 0.10% 0.40 b3FHLMC 3134A22J0 09M7/00 457 12/14101 97.5859 50,000.00 48,792.97 3,562.50 53,562.50 6.76% 4.750% 540.97 Merrill 1,207.03 540 49,015.63 0.10% 0.46 ( 381,381.89 378,573.30 12,91125 394,293.14 4,148.12 2,808.59 0.00 subtotal 379,178.77 0.78% 1.27 ubtotal Fund 552411111mse■AthlWe Complex LOGIC WA 100.0000 58,739.17 58,739.17 0.00 58.739.17 6.48% LOGIC 551 58,739.17 0.12% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 0.00 6.59% FGIC 551 0.00 0.00% 0.00 Subs 58,739.17 58,739.17 0.00 58,739.17 0.00 0.00 0.00 subtotal 58,739.17 0.12% 0.00 Fund 001-Equipment Replacement LOGIC WA 100.0000 151,681.54 151,681.54 151,681.54 6.48% LOGIC 601 151,681.54 0.31% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 601 0.00 0.00% 0.00 FNMA 3135WLUS 0428/00 181 1026/00 96.8828 250,000.00 242,206.94 7,793.06 250,000.00 6.51% BANC ONE 601 246,839.03 0.49% 0.89 Syed 401,681.54 393,888.48 7,793.06 401,681.54 0.00 0.00 0.00 Subtotal 400,520.57 0.80% 0.89 Fund$104nsrrrana LOGIC WA 100.0000 18,377.63 18,377.63 18,377.63 6.48% LOGIC 610 18,377.63 0.04% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 610 0.00 0.00% 0.00 FMAC 312902LU1 04AMW 263 01/16(01 95.4507 300,000.00 286,352.16 13,647.84 300,000.00 6.60% FSW 610 294,213.00 0.58% 1.53 srbWw 318,377.63 304,729.79 13,647.84 318,377.63 subtotal 312,590.63 0.62% 1.53 Fund 615-Rek Management LOGIC WA 100.0000 152,087.66 152,087.66 152,087.66 6.48% LOGIC 615 152,087.66 0.31% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 6.59% FGIC 615 0.00 0.00% 0.00 FHLMC 3134A2H92 09/08100 479 01107102 98.4063 500,000.00 492,03125 41,625.00 541,625.00 6.81% 5.550% 4,702.08 Vining 7,968.75 615 494,062.50 1.01% 4.84 Subtotal 652,087.66 644,118.91 41,625.00 693,712.66 4,702.08 7,968.75 0.00 subtotal 646,150.16 1.32% 4.84 Fund 705-DsOas!Stars Eurow Reserve Texpod WA 100.0000 1,995,068.08 1,995,068.08 1,995,068.08 6.48% Texpod 705 1,995,068.08 4.05% 0.00 Fund 710.FW DEA Task Force Trust and Agency LOGIC WA 100.0000 0.00 0.00 0.00 6.48% LOGIC 710 0.00 0.00% 0.00 TOTAL 49,454,693.68 48,982,370.54 2,045,044.66 51,143,139.30 220,041.72 115,724.09 0.00 TOTAL 49,191,402.81 100.00% 222.72 ■� M .M M For July 2000 Investment Type Institution LOGIC Local Govt Pod FNMA Fed.NaCl Mort.Assoc. FHLB Fed.Home Loan Bank FGIC Financial Investors Trst FSW First Southwest LNDMRK Landmark Bank FGIC Money Market Paul FFCB Fed.Form Credit Bank FMAC Fed.Home Loan Mort.Corp. Vining Vining Sparks Merrill Merrill Lynch LOGIC Local Govt Investment Cooperative SLMA ftxW t Loan Mort.Assoc. TNOTE Treasury Note CD Certificate of Deposit BANCONE Banc One Capital Everen Everen Securities Chase Chase Securities Cost Accrued Total P*I Inv, Cusip Purchase Tenn Maturity Price Par Book Value Interest Total Yield To Coupon Interest Seller Mary Net of Total Cost L= Number Ode tin davit Oda Per 5100 YBWC (Pdm,Onlyl 11)matSC Prin±Int Maturity BffiQ Purchased IOSL Discount Premium EYOd Prem.Disc 31M Pr of Investment FHLB 3133MAZM4 07/03100 252 03/15/01 99.9063 500,000.00 499,531.25 33,750.00 533,750.00 6.75% 6.750% 10,125.00 JWG 468.75 501 523,625.00 509,656.25 LOGIC 07107100 100.0000 1,200,000.00 1,200,000.00 0.00 1,200,000.00 6.40% LOGIC Various 1,200,000.00 1,200,000.00 LOGIC 07111/00 100.0000 1,200,000.00 1,200,000.00 0.00 1,200,000.00 6.41% LOGIC Various 1,200,000.00 1,200,000.00 LOGIC 07/14/00 100.0000 1,600,000.00 1,600,000.00 0.00 1,600,000.00 6.43% LOGIC Various 1,600,000.00 1,600,000.00 FNMA 3135BWBO 0721100 357 07/13/01 93.6633 500,000.00 468,316.25 31,683.75 500,000.00 6.80% Merrill 510,501 500,000.00 468,316.25 FHLB 3133MSJ58 07/13/00 460 1123/01 98.0748 500,000.00 490,374.00 41,250.00 541,250.00 7.00% 5.500% 3,819.44 Banc One 9,626.00 501 537,430.56 494,193.44 TOTALS: 5,500,000.00 5,458,221.50 106,683.75 5,575,000.00 6.63% 13,944.44 10,094.75 O.00 5,561,055.56 5,472,165.94 LOGIC DIVIDENDS REINVESTED 60,888.61 60,888.61 TEXPOOL DIVIDENDS REINVESTED 60,878.39 60,878.39 FGIC DMDENDS REINVESTED 6,917.32 6,917.32 1 N In 1 City of Euless Schedule of Purchases For August 2000 Imrestrnsnt Type Institution LOGIC Local Govt Pool FNMA Fed.NaCl Mort.Assoc. FHLB Fed.Home Loan Bank FGIC Finanadal Investors Trst FSW First Southwest LNDMRK Landmark Bank FGIC Money Market Pool FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mort.Corp. Vining Vining Sparks Merrill Merrill Lynch LOGIC Local Govt Investment Cooperative SLMA S Klent Loan Mort.Assoc. TNOTE Treasury Note CD Certificate of Deposit BANCONE Bane One Capital Everen Everen Securities Chase Chase Securities Cost Accrued Total P+I a Inv. Cusip Purchase Tenn Maturity Price Par Book Value Interest Total Yield To Coupon Interest Seiler Maty Net of Total Cost I= Numbw DW (in days Iwo Per S100 Value ( rin.Only) ob mar Prin+Int Maturity $3(g Purchased b= Discount Premium Eund Prem.Disc 8 Int R of FNMA 31364B11U2 081'09100 173 02/02/01 99.3750 150,000.00 149,062.50 4,125.00 154,125.00 6.84% 5.500% 160.42 Merrill 937.50 501 153,964.58 149,222.92 FHLB 3133MBEJ2 08/09/00 257 0426101 99.9280 500,000.00 499,640.00 32,500.00 532,500.00 6.59% 6.500% 9,298.61 BancOne 360.00 240 523,201.39 508,938.61 LOGIC 06109100 100.0000 400,000.00 400,000.00 0.00 400,000.00 6.45% LOGIC Various 400,000.00 400,000.00 LOGIC 06/10/00 100.0000 1,100,000.00 1,100,000.00 0.00 1,100,000.00 6.46% LOGIC Various 1,100,000.00 1,100,000.00 FMAC 3133978M 0810/00 175 02/01/01 96.9181 500,000.00 464,59028 15,409.72 500,000.00 6.65% JWG 305,505,530 500,000.00 484,590.28 FMAC 31339REN3 0810/00 343 07/19/01 94.0547 500,000.00. 470,273.33 29,726.67 500,000.00 6.62% JWG 325 500,000.00 470,273.33 FHLB 313385SPO 0811/00 180 02/07/01 96.8250 500,000.00 484,125.00 15,875.00 500,000.00 6.67% Merrill 325 500,000.00 484,125.00 FMAC 3133MM 0811100 342 07/19/01 94.0450 500,000.00 470,225.01 29,774.99 500,000.00 6.65% FSW 240 500.000.00 470,225.01 FNMA 31359MEFS 0811/00 424 10/15/01 97.7031 225,000.00 219,832.03 15,609.38 240,609.38 6.68% 4.625% 3,353.13 Merrill 5,167.97 301 237,25625 223,185.16 FHLB 3133MAVLO 0814100 181 02/15/01 99.9000 510,000.00 509,490.00 33,124.50 543,124.50 6.70% 6.495% 16,470.24 FSW 510.00 325 526,654.26 525,96024 LOGIC 081800 100.0000 1.000,000.00 1,000,000.00 0.00 1,000,000.00 6.45% LOGIC Various 1,000,000.00 1,000,000.00 FHLMC 3134AO)CB3 0622/00 195 03/07/01 99.5156 100,000.00 99,515.63 5,880.00 105,880.00 6.80% 5.880% 2,695.00 Merrill 484.37 540 103,185.00 102,210.63 NFNMA 31364GXW4 0822/00 197 03/09/01 99.4145 500,000.00 497,072.50 28,000.00 528,000.00 6.70% 5.600% 12,677.78 Duncan 2,927.50 240 515,322.22 509,750.28 FFCB 31331HG35 06/22/00 399 10/01/01 99.2597 635,000.00 630,299.36 57,150.00 692,150.00 6.70% 6.000% 14,922.50 FSW 4,700.64 501 677,227.50 645,221.86 TOTALS: 7,120,000.00 7,014,125.63 267,175.26 7,296,388.88 6.64% 59,577.68 15,087.98 0.00 7,236,811.20 7,073,703.31 LOGIC DIVIDENDS REINVESTED 60,157.83 60,157.83 TEXPOOL DIVIDENDS REINVESTED 60,699.95 60,699.95 FGIC DIVIDENDS REINVESTED 7.495.50 7,495.50 M m cuyi m M M M M M M M M Schedule of Purchases For September 2000 Investment Type Institution LOGIC Local Goslt Pod FNMA Fed.Nafl Mort.Assoc. FHLB Fed.Home Loan Bank FGIC Financial Investors Trst FSW First Southwest LNDMRK Landmark Bank FGIC Money Merkel Pod FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mort.Corp. Vk" Vining Sparks Merrill Merrill Lynch LOGIC Local Gov I Investment Cooperative SLMA Student Loan Mort.Assoc, TNOTE Treasury Note CD Certificate of Deposit BANCONE Banc One Capital Everen Everen Securities Chase Chase Securities Cost Accrued Total P+I @ Inv. Cusip Purdrse Tenn Maturity Price Par Book Value Interest Total Yield To Coupon Interest Seller Maty Net of Total Cost MM Nmdw ILS fin deal age Per 5100 Value (Prin.On @ ma Prin+Int Maturttv &M Purchased Jas(, Discount Premium Eund Prem.Disc A IM PL of Investment FNMA 31359MUS 09107100 398 10/15/01 97.7656 50,000.00 48,882.81 3,468.75 53,468.75 6.75% 4.625% 912.15 Merrill 1,117.19 540 52,556.60 49,794.96 FHLMC 3134A2Z)O 09107/00 457 12!14/01 97.5859 50,000.00 48,792.97 3,562.50 53,562.50 6.76% 4.750% 540.97 Merrill 1,207.03 540 53,021.53 49,333.94 FHLMC 3134A21,192 09108/00 479 01/07/02 98.4063 500,000.00 492,031.25 41,625.00 541,625.00 6.81% 5.550% 4,702.08 Vining 7,968.75 615 536,922.92 496,733.33 LOGIC 09111/00 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 6.47% LOGIC Various 1,000,000.00 1,000,000.00 LOGIC 09/20/00 100.0000 200,000.00 200,000.00 0.00 200,000.00 6.45% LOGIC Various 200,000.00 200,000.00 ' LOGIC 09121/00 100.0000 500,000.00 500,000.00 0.00 500,000.00 6.46% LOGIC Various 500,000.00 500,000.00 FHLB 3133MCAZO 09128/00 360 09/28/01 100.0000 1,000,000.00 1,000,000.00 65,000.00 1,065,000.00 6.50% 6.500% JWG 101,240 1,065,000.00 1,000,000.00 TOTALS; 3,300,000.00 3,289,707.03 113,656.25 3,413,656.25 6.60% 6,155.20 10,292.97 0.00 3,407,501.05 3,295,86223 LOGIC DIVIDENDS REINVESTED 57,906.52 57,906.52 TEXPOOL DIVIDENDS REINVESTED 55,018.99 55,018.99 FGIC DIVIDENDS REINVESTED 7,542.54 7,542.54 I N V 1 cnr a EtAass Schedule Of Mat 9tom For July 2000 hrvast"WitType Institution LOGIC Lotrel Govt Pod FNMA Fed.Nat1 Mort Assoc. FHLB Fed.Home Loan Bank FGIC Finanadal Investors Trst FSW First SouOnvest LNDMRK Landmark Bank FDIC Money Msrlcat Pod FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mon.Corp. Vining Vining Sparks Merrill Merrill Lynch LOGIC Local Gov't Investment Cooperative SLMA Student Loan Mortt,Assoc:. TNOTE Treasury Note CD Certificate of Deposit BANCONE Banc One Capital Everen Everen Securities Chase Chase Securities Tenn to Cost Accrued Total P+190 Inv. Cuslp Purchase MatylCall Maty/Call Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Maty or call Net of Total Cost L= Ntrnbw Qft (in dH1m1 am Per 5700 y hm (Prin_Only 1 d mary/call Int dh Ma tV maturity Bate Purchased lnsL Discount Premium Eund Prem E IM Pur. of Inveytinap( LOGIC 07103100 100.0000 850,000.00 850,000.00 0.00 850,000.00 6.51% LOGIC Various 850,000.00 850,000.00 FHLB 3133MODFO 12/30/99 187 07107/00 99.7213 500,000.00 498,608.75 27,700.00 527,700.00 6.09% 5.640% 13,311.39 Vining 1,393.26 501 514,388.61 511,918.14 Taxpool 07/13100 100.0000 185,000.00 185,000.00 0.00 185,000.00 6.48% Texpool Various 185,000.00 185,000.00 LOGIC 07/13100 100.0000 300,000.00 300,000.00 0.00 300,000.00 6.43% LOGIC Various 300,000.00 300,000.00 FHLB 3133M74B9 01/15/99 539 07/14100 100.0000 1,000,000.00 1,000,000.00 77,855.56 1,077,855.56 5.20% 5.200% Everen 501 1,077,856.66 1,000,000.00 LOGIC 07/17/00 100.0000 500,000.00 600,000.00 0.00 500,000.00 6.47% LOGIC Various 500,000.00 500,000.00 LOGIC 07/18'00 100.0000 500,000.00 500.000.00 0.00 500,000.00 6.44% LOGIC Various 500,000.00 500,000.00 LOGIC 0720100 100.0000 400,000.00 400,000.00 0.00 400,000.00 6.45% LOGIC Various 400,000.00 400,000.00 FHLB 3133M74TO 0121/99 640 0721/00 100.0000 500,000.00 500,000.00 37,500.00 537,500.00 5.00% 5.000% Everen 101 537,6O.00 500,000.00 FNMA 3139 001)2199 354 0721/00 94.7588 500,000.00 473,794.17 26,205.83 500,000.00 5.64% Merrill 510 500,000.00 473,794.17 LOGIC 07/31/00 100.0000 200,000.00 200,000.00 0.00 200,000.00 6.55% LOGIC Various 200,000.00 200,000.00 TOTAL 5,435,000.00 5,407,400.91 169,261.39 6,678,065.66 6.11% 13,311.39 1,393.26 0.00 5,564,744.17 5,420,712.30 N l For August 2000 Irrveshrre"t Type Instltutton LOW Local Godt pod FNMA Fed.Narl Mort Assoc. FHLB Fed.Home Loan Bank FGIC Finanactal Investors Trst FSW First Southwest LNDMRK Landmark Bank I= Monetr ill b Pod FFCB Fed.Form Credit Bank FMAC Fed.Home Loan Mort.Corp. Vining Vining Sparks Merrill Merrill Lynch LOGIC Local Govt Investment Cooperative WAA Student Lam Mort.Aseoe. MOTE Treasury Note CD CerOBcate of Deposit BANCONE Banc One Capital Everen Everen Securities Chase Chase Securities Term to Cost Accrued Total P+I @a lav, Cualp PW"n Mervicall Maly/Coll Price Par Book Value Interest Total Pdn.+ Yleld To Coupon Interest Seller Mary or call Net of Total Cost I= Number aft D0 dm 911111111 Par sloe YAWS jPQp„Qfllyi @mar(/Cal( Int®Mary Maturity $azg Purchased JnSL Discoun premium Fund Prem A Int Pur. of Investment LOGIC 080100 100.0000 500,000.00 500,000.00 0.00 500,000.00 6.49% LOGIC Various 500,000.00 500,000.00 FNMA 313588062 020400 181 08/03100 97.06(18 500,000.00 485,344.03 14,655.97 500,000.00 6.11% FSW 325 500,000.00 485,344.03 FHLB 313384840 02/11100 180 0809/00 97.0960 500,000.00 485,475.00 14,525.00 500,000.00 6.08% Banc One 220,501 500,000.00 486,475.00 FNMA 31350MM 02/1100 181 08/10100 97.0738 500,000.00 485,369.17 14,630.83 500,000.00 6.10% JWG 101 500,000.00 485,369.17 LOGIC 08/1100 100.0000 700,000.00 700,000.00 0.00 700,000.00 6.46% LOGIC Various 700,000.00 700,000.00 LOGIC 08/1400 100.0000 350,000.00 350,000.00 0.00 350,000.00 6.50% LOGIC Various 350,000.00 350,000.00 LOGIC 08/15/00 100.0000 800,000.00 600,000.00 0.00 600,000.00 6.54% LOGIC Various 600,000.00 600,000.00 FHLB 3133M7GY8 02/18199 640 08/1800 100.0000 1,000,000.00 1,000,000.00 75,000.00 1,075,000.00 6.00% 5.000% FSW 101,301,601,&505 1,075,000.00 1,000,000.00 LOGIC 06/2200 100.0000 1,200,000.00 1,200,000.00 0.00 1,200,000.00 6.46% LOGIC Various 1,200,000.00 1,200,000.00 TOMW 082900 100.0000 700,000.00 700,000.00 0.00 700,000.00 6.59% Texpool Various 700,000.00 700,000.00 Twoocl 08/3000 100.0000 150,000.00 160,000.00 0.00 150,000.00 6.58% Texpool Various 150,000.00 150,000.00 TOTAL 6,700,000.00 6,656,188.19 118,811.81 6,775,000.00 6.26% 0.00 0.00 0.00 6,775,000.00 6,658,188.19 N �O City Of Euless Schedule of Maturilla For September 2000 hwestmeot TV" Institution LOGIC Local Gott Pod FNMA Fed.Nafl Mat Assoc. FHLB Fed.Home Loan Bank FGIC Finanadal Investors Trst FSW First SouMwest LNDMRK Landmark Bank FGIC Marey MW Pool FFCB Fed.Farm Credit Bank FMAC Fed.Horne Loan Mort Corp. Vining Vining Sparks Merrill Merrill Lynch LOGIC Local Gott Investment Cooperative SLMA Student Loan Mat Assoc. TNOTE Treasury Note CD Certificate of Deposit BANCONE Banc One Capital Everen Everen Securities Chase Chase Securities Term to Cost Accrued Total P+190 hw. Cuslp Purchase Maryrall Maty/Call Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Maty or call Net of Total Cost MM Number Dft ffidaval Ia pffi5140 Value (Prin-Oniv1 Int.®Mari MahldtY &to Purchased 102L Discount Premium Fund Prem d Int Pur_ of Investment LOGIC 09/08/00 100.0000 500.000.00 500,000.00 0.00 500,000.00 6.47% LOGIC Various 600,000.00 500,000.00 FNMA 313508M 03ld0/00 168 00/14100 97.1720 500,000.00 485,860.00 14,140.00 500,000.00 6.34% FSW 615 500,000.00 485,880.00 LOGIC 09/15100 100.0000 200,000.00 200,000.00 0.00 200,000.00 6.51% LOGIC Various 200,000.00 200,000.00 FNMA 31364FATO 03MM 168 09/18100 99.8763 500,000.00 499,381.25 15,350.00 515,360.00 6.40% 6.140% 1,023.33 Vining 618.75 501 514,326.67 500,404.58 FNMA 31354WM 0126100 235 0920/0) 100.0000 200,000.00 200,000.00 12,220.00 212,220.00 6.09% 6.110% 4,243.06 Banc One 0.00 0.00 305 207,976.94 204,243.06 FNMA 3136BOG74 03W/00 175 0921/00 97.0542 600,000.00 465,270.83 14,729.17 500,000.00 6.35% JWG 101 600,000.00 485,270.83 FNMA 31364FBKG 02107/00 228 09/25/00 99.7280 500,000.00 498,639.97 29,850.00 529,850.00 6.40% 5.970% 10,945.00 Vining 1,360.03 101 518,905.00 509,584.97 LOGIC 0928100 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 6.51% LOGIC Various 1,000,000.00 1,000,000.00 TOTAL 3,900,000.00 3,869,152.05 86,289.17 3,957,420.00 6.38% 16,211.39 1,978.78 0.00 3,941,208.61 3,885,363.44 pW I | � -E— a■■■■§■!■■§§■�■■■■■■§■■|■■■■|■■■■�■■�■§aa§ � % $ ■■§§■■■■■■k■■�■■■■■■■■■■■■k§■■■■■■■k�■■■■ � � ■ ■■■■�;■BSB■■■,■&sak§!■■!_§■§�■■■2��■■■ sad $ ■,,,,,,,,,,,,,,,,,,,,$A%.,,__..,,_...,,._ � � ;saaaeaaaaaasaaasa■@ee■=■eaeaasasaseaaseea ) $ ■ � § ■ § v » ■� ! !!k ■ |§# K ■ aa8 � k B k ■ IV # m ! § § ? � ! § k � t t t K � a § q ■ B � ; ! § ! B t a } } � ■ ! � k | � § MIN § ■iWgMIIA H nisi i � ■|$§||&§E■k||§$�§|�§$■|§;�|t2k■■■$|K2lk|§� . � 1 1 1 1 End of Month Reports Fiscal Year 1999-00 � 1 1 1 1 1 1 1 -32- 1 leash&Debt Department p Prepared by: October 31, 1999 Vicki Rodriquez V lOctober ercent of funds invested 1998 1999102% 100% onsolidated Cash,Operating Account ($465,000) $21,308 39%of City funds are available for use within 30 days,of which 32% is accessible on a daily basis. Investment maturities for October were$3,553,831 (cost). These investments yielded an average of 5.36°x6. nvestment purchases and dividends reinvested for September were$1,848,390(cost). These investments yielded an average of W.31%. The difference between purchases and maturities is due to a$1,000,000 investment that matured on the last day of October. These funds were reinvested and settled on the first of November. Also excess funds were used to cover large accounts payables due to overlap of fiscal years. ' PORTFOLIO SUMMARY BY INSTRUMENT (at cost) 09/309 % 10/31/99 % 'Treasuries: $499,297 1.76% $499,297 1.87% Agencies: 19,486,174 68.62% 17,557,342 65.78% ,CD's: 5,000 0.02% 5,000 0.02% LOGIC: 6,588,949 23.20% 6,804,466 25.49% FGiC: 1.815.988 6.40% 1,823,$6 §�$�1e° Total $28,395,407 100°x6 $261689,966 100% 'The City's average yield on investments was 5.21%and the average 90 day T-Bill yield was 4.98%which is a 23 basis point spread over the benchmark. This equates to approximately$61,387 annually. Total interest received for October was$ 121,542. Market Act verity' Many Fed'watchers expected the Fed to raise rates 25 basis points at its meeting on November 16th. At their last meeting,The Fed indicated that they would be more likely to raise rates than lower them. Economic data still suggest a strong economy with just a hint of inflation. On November 16th,the Fed did raise rates by 25 basis points as anticipated. The Fed suggested that they would be taking a neutral stance towards future rate changes, meaning a move to still higher rates is just as likely as one to lower rates. This would suggest that the increase on the 16th,the third since June, may be the last for some time. The Fed believes that this move would help to diminish the risk of inflation. The latest GDP data Indicated that growth as strop in the third quarter of 1 9 9 W 9 q 9 9,growing 4.8 percent. The 12 month moving average remains around 4%for the past two years. Inflation still remains low despite recent increases in some measures of inflation. interest rates rose about 20 basip points last month. Interest rates have followed aeneral upward trend g p in the past few months. This will have a positive effect on our portfolio as current investments mature. This will allow us to reinvest these funds at higher rates. Key Rates 29-Oct year Ago Certificates of Deposit: 3 month 5.47% 4.94% 6 month 5.49% 5.05% Treasury Bill: 91 day 5.00% 4.07% 52 Week 5.12% 4.06% late-rest Rate Outlook 2/0119,9 02/01/00 05/01/00 Fed Funds 5.30% 5.30% 5.30% 30 day prime bank CD 5.50% 5.40% 5.30% 3 Month T-Bill Yield 5.00% 4.90% 4.90% 'Source: GFOA,"Public Investor,"November 2, 1999 First Squthwest,Weekly Market Updates —33— Cash&Debt Department Prepared by: November 30, 1999 Vicki Rodriquez 1998 November 1999 Perceat of funds invested 100% 100% Consolidated Cash, Operating Account $487,174 $9,762 34%of City funds are available for use within 30 days,of which 30%is accessible on a daily basis. Investment maturities for November were$3,995,485(cost). These investments yielded an average of 5.18%. Investment purchases and dividends reinvested for November were$4,590,260(cost). These investments yielded an average of 5.77%. The difference between purchases and maturities is due to an investment that matured on the last day of October. These funds were reinvested and settled on the first of November. ' D; PORTFOLIO SUMMARY BY INSTRUMENT (at cost) 10/31/99 % 11/30/99 % Treasuries: $499,297 1.87% $499,297 1.83% Agencies: 17,557,342 65.78% 18,504,190 67.72% , °, CD's: 5,000 0.02% 5,000 0.02% LOGIC: 6,804,466 25.49% 6,484,503 23.73% FGIC: 1.823.861 §Mii 1,831,751 6.70% Total $26,689,966 100% $27,324,741 100% The City's average yield on investments was 5.38%and the average 90 day T-Bill yield was 5.11%which is a 27 basis point spread over the benchmark. This equates to approximately$73,777 annually. Total interest received for November was$ 144,051. Market Activity* Afte,-declining in early November, interest rates rose after the Fed tightened the discount rate later in the month. This represents the third hike this year,essentially offsetting the three reduction in 1998. In general interest rates have been rising for the past 12 months. Some economists predict that rates will continue to rise into the next 12 months. The unemployment rate fell to 4.1 percent in September,the lowest rate in almost 30 years. In addition, the economy grew at a rate of 5.5 percent in the third quarter, and has grown at an average rate of 4%for the past two years. Despite these figures, inflation has remained low. The consumer price index rose just 0.2 percent and the producer price index rose only 0.3 percent. The question still remains,"How low can unemployment go before inflation heats up?" A great deal of uncertainty remains among economists on when that trigger point could be reached. However,due to foreign competition and competition over the internet, instead of raising prices,firms are cuffing their profit margins and costs. The Fed meet in December, but no changes were made in interest rates. Their next opportunity to raise rates will be in February. Most Fed watchers expect the Fed to raise rates at this meeting by at least 25 basis points if labor markets remain tight and the economy continues to grow at its current rate. Key Rates 26-Nov Year Ago Certificates of Deposit: 3 month 5.41% 4.76% 6 month 5.48% 4.96% Treasury Bill: 91 day 5.11% 4.50% 52 Week 5.17% 4.40% Interest Rate Outlook 01/01/00 03/01/00 06101/00 Fed Funds 5.50% 5.50% 5.40% 30 day prime bank CD 5.60% 5.60% 5.60% 3 Month T-Bill Yield 5.10% 5.10% 5.10% *Source: GFOA,"Public Investor,"December 3, 1999 First Southwest,Weekly Market Updates —34— tsh&Debt Department p Prepared by: December 31,1999 Vicki Rodriquez December 1998 1999 fiercent of funds invested 101% 101% onsolidated Cash, Operating Account ($227,344) ($74,109) i 30%of City funds are available for use within 30 days,of which 23%is accessible on a daily basis. Ivestment maturities for December were$5,393,000(cost). These investments yielded an average of 5.52%. vestment purchases and dividends reinvested for December were$8,389,475(cost). These investments yielded an average of 86%. The difference between purchases and maturities is due the receipt of property tax payments. PORTFOLIO SUMMARY BY INSTRUMENT ' (at COSI) 11/30/99 12/31/99 % reasuries: $499,297 1.83% $499,297 1.70% gencies: 18,504,190 67.72% 21,951,401 74.80% D's: 5,000 0.02% 5,000 0.02% LOGIC: 6,484,503 23.73% 5,550,602 18.91% IGIC: 1831.751 6.70% 1.339,807 4.57% ota[ $271324,741 100% $291346,107 100% ,The City's average yield on investments was 5.53%and the average 90 day T-Bill yield was 5.34%which is a 19 basis point spread ver the benchmark. This equates to approximately$55,758 annually. Total interest received for December was$ 102,018. jilarket Activity* te economy continued to grow at a strong pace during the last quarter of 1999. The federal reserves survey shows that the econorpy'.' ntinues to grow at a moderate to strong pace. Although consumer spending was somewhat slow, manufacturing and construction- has increased. Labor markets remain tight and prices remain steady. Despite strong economic growth,inflation remains low because Irms lack pricing power due to strong competition of imports and internet. Economists expect economic growth and inflation to be moderate in 2000. They predict a decline in housing starts due to the increase rinterest rates. They also expect a decline in technology spending. The internet will continue to keep inflation down by forcing usinesses to keep prices down. Ws expected,the Fed left rates unchanged at its December 21st meeting. However, most economists predict that the Fed will raise Wates several times during the year 2000. The Fed is determined to slow the economy to a non-inflationary level of growth around 3 to 31/4 percent. The first of these moves is expected at the February 2nd meeting of the Federal Open Markets Committee. The Fed is rkely to raise rates by 25 basis points and there is the possibility that they may raise rates as high as 50 basis points. Key Rates 31-Deg Year kgo Certificates of Deposit: 3 month 5.36% 4.78% 6 month 5.67% 5.00% Treasury Bill: 91 day 5.30% 4.52% 52 Week 5.35% 4.31% ,Interest Rafe Outlook 02/01/00 04101/00 07/01/00 Fed Funds 5.50% 5.50% 5.40% '30 day prime bank CD 5.80% 5.70% 5.70% 3 Month T-Bill Yield 5.30% 5.30% 5.30% *Source: IGFOA,*Public Investor,*January 7,2000 " + First Southwest,Weekly Market Updates —35— Cash& Debt Department Prepared by: { January 31,2000 Vicki Rodriquez January , 1999 2000 Percent of funds invested 100% 102% Consolidated Cash, Operating Account $59,921 ($512,082) 33%of City funds are available for use within 30 days, of which 25% is accessible on a daily basis. B Investment maturities for January were$4,600,485 (cost). These investments yielded an average of 5.53%. F i i Investment purchases and dividends reinvested for January were$7,121,301 (cost). These investments yielded an average of 6.24%. The difference between purchases and maturities is due the receipt of property tax payments. ' PORTFOLIO SUMMARY BY INSTRUMENT (at cost) ; 12/31/99 % 01/31/00 % Treasuries: $499,297 1.70% $0 0.00% Agencies: 21,951,401 74.80% 23,858,808 74.87% CD's: 5,000 0.02% 5,000 0.02% LOGIC: 5,550,602 18.91% 6,657,555 20.89% FGIC: 1,339.807 4.57% 1,345,560 4.22% Total $29,346,107 100% $31,866,923 100% ' a' The City's average yield on investments was 5.73% and the average 90 day T-Bill yield was 5.46%which is a 27 basis point spread over the benchmark. This equates to approximately$ 86,041 annually. Total interest received for January was$ 113,193 . I Market Activity* The Federal Reserve reported strong economic growth in most Fed districts for December and early January. The January unemployment rate fell to a 30 year low, and job growth posted the largest gain in two years. Unemployment fell to around 4%and ' 387,000 now jobs were added to U.S. payrolls. Overall the labor market remains very strong and supports the Fed.'s decision to raise rates. As expected,the Fed raised rates by 25 basis points at their first meeting of 2000. Some economists predict that the Fed will raise rates two or three times during the first half of the year. The Fed is determined to slow domestic demand and to slow the economy to a non- inflationary level of growth around 3 to 3 1/4 percent. The Fed meets on March 21st. They are expected to raise the overnight funds rate by another 25 basis points at this meeting. ' 5 Key Rates 28-Jan Year Ago Certificates of Deposit: 3 month 5.47% 4.72% ' 6 month 5.68% 4.94% Treasury Bill: 91 day 5.39% 4.31% l 52 Week 5.65% 4.34% ' t Interest Rate Outlook 03/01/00 05/01/00 08/01/00 Fed Funds 5.80% 5.80% 5.90% ' 30 day prime bank CD 6.00% 6.10% 6.20% 3 Month T-Bill Yield 5.50% 5.60% 5.70% "Source: GFOA, "Public Investor," February 4, 2000 First Southwest,Weekly Market Updates —36— lash&Debt Department Prepared by: AL February 29, 2000 Vicki Rodriquez February 1999 2000 cercent of funds invested 100% 101% onsolidated Cash, Operating Account $53,154 ($337,755) 25%of City funds are available for use within 30 days, of which 16% is accessible on a daily basis. vestment maturities for February were$7,166,439 (cost). These investments yielded an average of 5.56%. vestment purchases and dividends reinvested for February were$7,061,166 (cost). These investments yielded an average of 6.18%. PORTFOLIO SUMMARY BY INSTRUMENT (at cost) 01/31/00 % 01/31/00 % Treasuries: $0 0.00% $0 0.00% gencies: 23,858,808 74.87% 26,745,122 84.21% D's: 5,000 0.02% 5,000 0.02% LOGIC: 6,657,555 20.89% 3,660,034 11.52% �GIC: 1,345,560 4.22% 1.351.495 4.26% otal $31,866,923 100% $31,761,650 100% The City's average yield on investments was 5.88% and the average 90 day T-Bill yield was 5.71%which is a 17 basis point spread over Ie benchmark. This equates to approximately$ 53,995 annually. Total interest received for February was$ 156,825. Market Activity* [he U.S. economy continues its brisk growth. The current economic expansion is the longest period of economic growth that the nation as experienced since the government began to measure the economy in 1854. Indicators of future economic expansion predict that tftl- current expansion will continue into the near future. The index of leading indicators and housing starts have risen in the past three ErcntUhs. The Federal Reserve Bank of Philadelphia predicts that the economy will grow an average of 3.8°k this year, and slow to 2.9 cent in 2001. Inflation remains low,with a mere 0.2 percent increase in January. Forecasters predict future inflation of around 2.5 nt through 2001. Les expected,the Fed raised rates by 25 basis points at its recent meeting on February 2. In the past eight months,the Fed has raised by 100 basis points. The Fed meets again on March 21 st. They are expected to raise the overnight funds rate by another 25 basis points at this meeting. Most Fed watchers expect one or two additional rate hikes before June. These series of rate hikes is part of the ed 's strategy to slow the soaring economy and prevent future inflation. ev Rates 25-Feb Year Ago Certificates of Deposit: 3 month 5.53% 4.73% 6 month 5.80% 4.98% treasury Bill: 91 day 5.64% 4.53% 52 Week 5.91% 4.37% terest Rate Outlook 04/01/00 06/01/00 09/01/00 ed Funds 6.00% 6.20% 6.20% 30 day prime bank CD 6.10% 6.30% 6.20% 1 Month T-Bill Yield 5.80% 6.00% 6.00% *Source: fFOA, "Public Investor,"March 3, 2000 rst Southwest,Weekly Market Updates ' —37— i Cash&Debt Department Prepared by: March 31,2000 Vicki Rodriquez March 1999 2000 Percent of funds invested 102% 100% Consolidated Cash, Operating Account ($585,701) ($407,828) 25%of City funds are available for use within 30 days, of which 18% is accessible on a daily basis. i Investment maturities for March were$5,147,338 (cost). These investments yielded an average of 5.77%. ' F Investment purchases and dividends reinvested for March were$4,398,861 (cost). These investments yielded an average of 6.04%. ' Y j PORTFOLIO SUMMARY BY INSTRUMENT # (at cost) 4 02/28/00 % 03/31/00 % f Treasuries: $0 0.00% $0 0.00% Agencies: 26,745,122 84.21% 25,169,319 81.16% CD's: 5,000 0.02% 5,000 0.02% a� LOGIC: 3,660,034 11.52% 4,480,407 14.45% FGIC: 1.351.495 4.26% 1.358.446 4.38°l0 Total $31,761,650 100% $31,013,173 100% 1 The City's average yield on investments was 5.95% and the average 90 day T-Bill yield was 5.86%which is a 9 basis point spread over the benchmark. This equates to approximately$27,912 annually. Total interest received for March was$97,131. Market Activity" The O.S. economy grew at a rate of 7.3 percent during the fourth quarter. This followed a 5.7 percent increase in the previous quarter. Thea ,i,e no apparent signs that the economy is slowing. Most economists expect this expansion to continue for the remainder of 2000. , Despise the strong economy and low unemployment, inflation remains low. The CPI rose a mere 0.6 percent in February. However,the Producer Price Index rose 1.0 percent in February. in an effort to slow the economy and prevent future inflation,the Fed raised the overnight fed funds rate 25 basis points at its meeting on March 21 st. This was the fifth rate hike since June of last year. The current funds is now the highest it has been in five years.The statement issued at the conclusion of the meeting indicated that the Fed is not yet completed its tightening campaign. The Fed still believes that demand will continue to exceed supply, eventually sparking inflation and jeopardizing the economic expansion. The nest Fed meeting is scheduled for May. The Fed is expected to bump rates up another quarter point at that time. Key Rates 31-Mar Year Apo Certificates of Deposit: 3 month 5.65% 4.73% 6 month 5.92% 4.96% Treasury Bill: 91 day 5.72% 4.38% 52 Week 5.84% 4.50% Interest Rate Outlook 05/01/00 07/01/00 10/01/00 i Fed Funds 6.00% 6.40% 6.50% 30 day prime bank CD 6.10% 6.50% 6.60% i 3 Month T-Bill Yield 5.80% 6.20% 6.20% "Source: ' GFOA,"Public Investor,"April 7, 2000 First Southwest, Weekly Market Updates —38— s lash&Debt Department Prepared by: / March 31, 2000 Vicki Rodriquez ' April 1999 2000 cercent of funds invested 100% 97% onsolidated Cash, Operating Account $141,555 $1,022,762 23%of City funds are available for use within 30 days, of which 15% is accessible on a daily basis. Ivestment maturities for April were$3,984,656(cost). These investments yielded an average of 5.55%. vestment purchases and dividends reinvested for April were$3,313,332 (cost). These investments yielded an average of 6.37%. PORTFOLIO SUMMARY BY INSTRUMENT (at cost) 03/31/00 % 04/30/00 % treasuries: $0 0.00% $0 0.00% Agencies: 25,169,319 81.16% 25,872,065 85.27% D's: 5,000 0.02% 5,000 0.02% OGIC: 4,480,407 14.45% 3,100,298 10.22% GIC: 1,358,446 4.38% 1.364,486 4.50% Total $31,013,173 100% $30,341,850 100% rhe City's average yield on investments was 6.08% and the average 90 day T-Bill yield was 5.82%which is a 26 basis point spread over the benchmark. This equates to approximately$78,889 annually. Total interest received for April was$ 104,257. larket Activity* The U.S.economy continues to grow at a blistering pace. GDP increased by 5.4 percent for the first quarter of this year. Some tp onomists anticipate that the economy will begin to slow down by year end as Fed rate hikes take effect. Retail sales showed a 0.2% during the month of April. This was the first time that monthly sales had fallen in 18 months. With GDP above 5%,the Fed is-lik_ #40. ntinue to raise the Fed funds rate. The Fed will want to see the growth rate slow down to around 3=4%,with inflation in the 1-3% range, before it gets comfortable. te Fed's policy setting Open Market Committee raised the overnight fed funds rate 50 basis points, to 6.5 percent at its meeting on May 16th. This was the sixth rate hike since June of last year. The current funds is now the highest it has been in nine years.The Fed also tised the discount rate by a half point to 6%. The statement issued at the conclusion of the meeting indicated that there may be more ise hikes on the horizon. The fed funds rate now stands 1.75% above the level a year ago of 4.75%. The next rate hike is expected as early as the next FOMC meeting on June 28th. �ev Rates 28-AD r Year Apo Certificates of Deposit: 3 month 5.80% 4.54% 6 month 6.09% 4.59% rreasury Bill: 91 day 5.62% 4.34% 52 Week 5.84% 4.50% terest Rate Outlook 06/01/00 08/01/00 11/01/00 Wed Funds 6.30% 6.60% 6.60% 30 day prime bank CD 6.50% 6.70% 6.80% Month T-Bill Yield 5.90% 6.10% 6.20% Source: GFOA, "Public Investor," May 2, 2000 �irst Southwest,Weekly Market Updates and E-mails —39— Cash&Debt Department Prepared by: May 31,2000 Vicki Rodriquez May ' 4 1999 2000 Parc:ant of funds invested 101% 101% Consolidated Cash, Operating Account ($396,348) ($488,347) , I j49%of City funds are available for use within 30 days, of which 46% is accessible on a daily basis. I Investment maturities for May were$4,154,844.45(cost). These investments yielded an average of 5.81%. ' Investment purchases and dividends reinvested for May were$22,668,224(cost). These investments yielded an average of 6.65%. During the month of May,we received bond proceeds of approximately$18,000,000. These funds were invested in our daily liquidity pools,Texpool and Logic. PORTFOLIO SUMMARY BY INSTRUMENT (at cost) 04/30/00 % 05/31/00 % Treasuries: $0 0.00% $0 0.00% ' Agencies: 25,872,065 85.27% 27,063,330 55.39% CD's: 5,000 0.02% 5,000 0.01% LOGIC: 3,100,298 10.22% 10,243,080 20.97% , TEXPOOL 0 0,00% 10,172,416 20.82% FGIC. 1,364,486 4.50% 1,371,403 2.81% Total $30,341,850 100% $48,855,230 100% The City's average yield on investments was 6.22% and the average 90 day T-Bill yield was 5.97%which is a 25 basis point spread over the benchmark. This equates to approximately$ 122,138 annually. Total interest received for May was$238,967. Mak As expected the Federal Reserve Open market Committee raised the Fed funds rate by 50 basis points at its May 16th meeting. The strong economy and risk of future inflation prompted the Fed's actions. With this rate increase,the Fed has raised interest rates 1.75 basis points since it began raising rates over a year ago. The current funds is now the highest it has been in nine years. The next rate , hike is expected as early as June 28th. There is widespread agreement that the Fed will raise the Fed funds rate another 25 to 50 basis points in the next few months. Some Fed watchers expect the Fed to hold off on additional rate hikes until the fall in order to determine the effects of previous rate hikes. However, others believe the Fed will continue to raise rates until there is clear signs that the economy , € is slowing down. Economic data continues to show strong economic growth in all regions. Unemployment has hit its lowest level in more than 30 years. Consumer spending and confidence remain strong. The Fed will continue to raise rates to stay ahead of rising inflation pressures from ' f tight labor markets, strong economic growth, and strong import activity. Key Rates 26-May Year Ago ' Certificates of Deposit: 3 month 6.78% 4.58% 6 month 7.04% 4.75% Treasury Bill: 91 day 5.80% 4.50% , a 52 Week 5.84% 4.49% Interest Rate Outlook 07/01/00 10/01/00 12/01/00 Fed Funds 6.70% 7.00% 7.30% 30 day prime bank CD 6.80% 7.10% 7.30% 3 Month T-Bill Yield 6.20% 6.50% 6.70% ' *Source: GFGA,"Public Investor,"June 2,2000 First Southwest,Weekly Market Updates and E-mails —40— lash& Debt Department Prepared by: June 30, 2000 Vicki Rodriquez ' June 1999 2000 ercent of funds invested 101% 101% onsolidated Cash, Operating Account ($220,209) ($488,347) 51%of City funds are available for use within 30 days, of which 46% is accessible on a daily basis. vestment maturities for June were$14,460,088(cost). These investments yielded an average of 6.23%. Investment purchases and dividends reinvested for June were$14,033,762 (cost). These investments yielded an average of 6.52%. ' PORTFOLIO SUMMARY BY INSTRUMENT (at cost) 05/31/00 % 06/30/00 % treasuries: $0 0.00% $0 0.00% Agencies: 27,063,330 55.39% 26,422,251 ° 53.98% D's: 5,000 0.01% 5,000 0.01% 0 GIC: 10,243,080 20.97% 10,030,342 20.49% EXPOOL 10,172,416 20.82% 11,108,906 22.70% GIC: 1,371.403 2.81% 1.378.940 2.82% otal $48,855,230 100% $48,945,439 100% The City's average yield on investments was 6.27% and the average 90 day T-Bill yield was 5.84%which is a basis point spread over he benchmark. This equates to approximately$ 122,138 annually. Total interest received for June was$245,922. arket Activity" conomic growth continues to be strong, although there are some signs that the economy may be slowing. New housing starts and the urchasing management index have both declined significantly over the past three months. Both of these statistics are considered kobe. Wading indicators. The Federal Reserve summary of economic activity reported solid economic growth and some signs of slowing=-- - throughout the nation. he Federal Reserve decided to leave rates interest rates unchanged in June and may reconsider at its next meeting on August 22nd. ecent economic data shows that the economy is slowing, but economists are split over whether the data is a true reflection of the current economy because many of the economic indicators have been swinging in different directions in the last few weeks. Many Fed Catchers expect the Fed to raise rates by 25 to 50 basis points in August. _Kev Rates 23-Jun Year Apo Vificates of Deposit: 3 month 6.00% 4.77% 6 month 6.19% 4.94% Treasury Bill: 91 day 5.70% 4.61% ' 52 Week 6.00% 4.89% Interest Rate Outlook 08/01/00 10/01/00 01/01/01 ed Funds 6.50% 6.60% 6.60% 0 day prime bank CD 6.50% 6.70% 6.70% Month T-Bill Yield 5.70% 5.80% 5.80% jrSource: FOA,"Public Investor,"July 7,2000 Logic Newsletter,April-June 2000 -41- i Cash&Debt Department Prepared / ��U� ' � ' `~~ '°= quez � �� - `~ July 1999 2000 Percent offunduinvested 101% 10196 Consolidated Cash, Operating Account ($292,533) ($353,832) 53%of City funds are available for use within 30 days, of which 48% is accessible on a daily basis. Investment maturities for July were$5.42O.712(poat). These investments yielded anaverage ufG.1196. Investment purchases and dividends reinvested for July were$5.GUO.85O (oost). These investments yielded anaverage of 6.63Y6 ! PORTFOLIO SUMMARY BY INSTRUMENT N� | (at cost) / 06/3000 % 07/31/00 % Tnwowuheo: $U 0.00Y6 $O 0.0096 Agencies: 36.422.251 53.98Y6 26.408.705 51.7296 ~� CD's: 5.000 0.0196 5.000 0.0196 LOGIC: 10.030.342 20.49% 11`341.231 23.0996 TEXPOOL 11.108.906 22J096 10.984.784 22.36q& FG(C : 1_I78 948 2.82% 1,385,867 2.82% Total 10096 $49,125,577 100% The City's average yield on investments was 6.36% and the average 90 day T-Bill yield was 6.13 which is a 23 basis point spread over the benchmark. This equates bzapproximately* 1i2.9B8annually. Total interest received for July was* 326.7B7. Mark2t Activity* Adhou(�hthe economy experienced rapid growth during the second quarter, leading indicators suggest that the economy may slow in tutu:.'' o�XX is. Th*�ndexof|aodinQindicatoehemdedinedforfourconmeoutivepadods. Other forward looking indicators such oonew home sales and consumer confidence has declined. Inflation remains low despite unemployment. Most economists predict that the Federal Reserve is currently at or near the end of its series of rate hikes. The Fed has raised rates six times(17Sbasis points)since itbegan raising rates inJune cf10A8. Looking ahead Fed watchers are split onwhether the fed will raise rates uditmeeting nnAugust 22nd. Recent economic data suggest that the economy has slowed and that inflation can be contained. Looking atthis information omove bythe fed iapossible but not very likely. Key Rates 23-Jul Year Ago Certificates ofDeposit: 3month 6.6696 4.8796 6month 8'82% 5.2196 Tm*amuryBill: 91 day 6.0196 4.5496 52 Week 6.0096 4.7196 Interest Rate Outlo 09/01/00 11/0N00 02/01/01 Fed Funds 6,50% 8.5096 6J096 30day prime bank CD 6.80Y6 6.60Y4 6.8096 3 Month T-BiUYield 5.9094 5.90Y6 6.20Y6 *Source: GFOA. "Public Invootor.^August 7. 2UOD | -42- �� lash& Debt Department Prepared by: August 312000 Vicki Rodriquez \1 ' August 9/13/00 1999 2000 fiercent of funds invested 101% 101% t: , onsolidated Cash, Operating Account ($168,554) ($594;889) 50%of City funds are available for use within 30 days, of which 46% is accessible on a daily basis. Ivestment maturities for August were$6,656,188 (cost). These investments yielded an average of 6.26%. Investment purchases and dividends reinvested for August were$7,202,057 (cost). These investments yielded an average of 6.64%. ' PORTFOLIO SUMMARY BY INSTRUMENT (at cost) 07/31/00 % 08/31/00 % Treasuries: $0 0.00% $0 0.00% Agencies: 25,408,705 51.72% 27,526,220 55.42% 1D's: 5,000 0.01% 5,000 0.01% 10 G I C: 11,341,231 23.09% 10,551,389 21.24% TEXPOOL 10,984,784 22.36% 10,195,484 20.53% �GIC: 1.385.857 2.82% 1.393.353 2.81% otal $49,125,577 100% $49,671,445 100% The City's average yield on investments was 6.47% and the average 90 day T-Bill yield was 6.26 which is a 21 basis point spread-over [e benchmark. This equates to approximately$ 104,310 annually. Total interest received for August was$240,335. Market Activity* . We latest Federal Reserve reports indicates that economic growth is slowing throughout most of the nation. Seven of the 12 Federat... eserve Districts report slower growth in June and July and four districts report no change in growth. Due to this slowdown,the.F.edelefit,'O tes unchanged at its August meeting. The economy continues to show moderate economic growth and inflation. �, •:;� the Fed is unlikely to raise rates before the November election. However, economists are split on whether the Fed will raise rates again before the end of the year. A strong rally in the stock market or an upturn in the economy would likely provoke the Fed to continue its �eries of rate hikes. e Ras 25-Aura Year Apo em iitecates of Deposit: 3 month 6.59% 4.98% 6 month 6.72% 5.35% 1 reasury Bill: 91 day 6.11% 4.85% 52 Week 6.00% 4.95% Interest Rate Outlook 10/01/00 12/01/00 03/01/01 Ned Funds 6.50% 6.50% 6.60% 0 day prime bank CD 6.60% 6.60% 6.90% Month T-Bill Yield 6.10% 6.10% 6.20% Source: FOA, "Public Investor,"September 1, 2000 Evare Market Data ' —43— Cash&Debt Department September 30,2000 Vicki Rpdhqum �0�~ � - -_ ,�- 1D/25/00 September N� 1999200O Percent offunds invested 105% 1019& Consolidated Cash, Operating Account ($1.205,074) ($316,280) 47%of City funds are available for use within 30 days, of which 45% is accessible on a daily basis. -- Investment maturities for September were z3.B85.3G3 (uost). These investments yielded anaverage ofG.3D%. Investment purchases and dividends reinvested for September were$3,416,330(cost). These investments yielded anaverage ofG.GO96. PORTFOLIO SUMMARY BYINSTRUMENT N� (at cost) 08/3y00 % 09/30/08 % Treasuries: $D 0.0096 $O 0.0096 Agencies: 27.626.220 55.4296 28.936.719 54.7596 CD's: 5.000 0.01% 6.000 0.0196 LOGIC: 10.551.389 21.2496 10.608.295 21.56% TEXPO(]L 10.195.484 20.53Y6 10.358.503 20.8896 0� FG|C: 1^3{�},353 2.81% 1^400.8K95 2]85%Total $49,671,445 100Y6 $49,202,412 10096 The City's average yield on investments was 6.49% and the average 90 day T-Bill yield was 6.17 which is a 32 basis point spread over the benchmark. This equates boapproximately$ 157.448annually. Total interest for September was$351.121. due bzyear end eccuna|o. Market Activity* The latest Federal Reserve reports indicates that economic growth remains at a moderate pace with low inflation, despite the significant change|noil prices. Remarkably,the oil price shock has not spread inflation to other sectors of the economy, so overall inflation remains knm. |nfact,the overall CPI declined O.1percent inAugust. However, the core CPI,which excludes volatile food and energy prices, has creeped upthroughout the year from 296tpabout 2.6Y6. The core CPI imconsidered emore accurate measure ofinflation. Most analysts expect the Federal Reserve Open Market Committee to keep the Fed funds rate unchanged through the rest of the year. ~� There are many uncertainties inthe market right now. The Fed could shift monetary policy from raising to lowering rates,oil prices thnuotanhodnmpenthewoddaconumy. ondanewCongneomandPraoidentmoypotentiaUybhnginodiffenantsudofhsma|phoritiaahoihe nation's capital, In light of all these uncertainties, the earliest interest rate move by the Fed is not expected until early next year. �� { Key Rates 29-Sep year A-go Fed Funds Rate 6.75% 62596 . Certificates ofDeposit: 3month 6.70q6 5.13% Gmonth 8.6896 5.3396 Treasury Bill: 91 day 6.01Y6 4.72% 52 Week 5.88Y6 5.0096Interest Rate Outlook | 11/02l00 01/01/01 04/81/01 Fed Funds 6.50Y6 66OY6 G4096 � � 30day prime bank CD 6.8096 6.6096 6.5096 3 Month T-8iUYield 6.0096 6.00Y6 6.0096 | *Source: 0FO4 "Public|nveator,^October 6.20NJ | EvanmMarket Data � First Southwest Asset Management Market Updates —44—