HomeMy WebLinkAboutFY 2002 Annual Investment Report Euless
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Investment ty
As of June 30,
Investment Type Institution
LOGIC Local Govt Pad FNMA Fed.Nall Mort Assoc. FMAC Fed.Home Loan Mort Corp 1 ST Union First Union Securities FSW First Southwest LOGIC Local Govt Invest roent Coop.
FGIC Many Market Pod FFCB Fed.Farm Credit Berk CD Certificates of Deposit Vining Vining Sparks Merril Merril Lynch FGIC Financial Investors Trust
Towd Local Goin Pad FHLB Fed.Home Loan Bank BancOne Bane One Capital Everen Everen Securities Texpod TEXPOOL
Duncan Duncan WlMams LNDMRK Landmark Bank
Cost Accrued
kw. Cuslp P rctuse Term Me" Call Price Par Bade Value Interest Total Prin.+ Yield To Coupon Interest Soler Market %of
IM 1! 90 (in ys Baia 2itt4 Per 5100 Y6W4 fPd0.40N1 flim f Int m Mnri M ftk Purchased lOkiL p1fJMld Value PorNWo YyAM
Fund 501-Water and Sewer
LOGIC WA 100.0000 57.44 57.44 57.44 1.90% LOGIC 501 57.44 0.00% 0.00
FGIC N/A 100.0000 50,552.40 50,552.40 50,552.40 1.70% FGIC 501 50,552.40 0.10% 0.00
Texpod N/A 100.0000 332,084.24 332,084.24 332,084.24 1.70% TEXPOOL 501 332,084.24 0.65% 0.00
FHLMC 3134A3T48 06/11/01 484 10/15102 NIC 102.7118 1,000,000.00 1,027,118.13 93,750.00 1,093,750.00 4.15% 6.250% 9,722.22 FSW 27,118.13 501 1,012,656.25 2.02% 9.80
FNMA 31364FGD7 06/12/01 510 11/12/02 NIC 102.5360 500,000.00 512,680.00 47,100.00 547,100.00 4.41% 6.280% 2,616.67 Merril 12,680.00 501 508,359.38 1.01% 5.13
SLMA WU7SER7 0125/02 540 0725/03 04125/02 100.0000 500,000.00 500,000.00 22,762.50 522,762.50 3.04% 3.035% Duncan 501 500,390.63 0.98% 5.27
FHLB 3133ML21`1 0129/02 540 0729/03 07/29/02 100.0000 600,000.00 600,000.00 26,010.00 626,010.00 2.89% 2.890% FSW 501 600,562.50 1.17% 6.32
FHLB 3133MJXD7 04/17/02 587 12M4/03 98.9640 900,000.00 890,676.00 49,500.00 949,500.00 3.41% 2.750% 9,143.75 Banc One 9,324.00 501 902,812.50 1.76% 10.31
FNMA 3136FIELO 01009002 720 01/09)04 01/09/03 100.0000 1,000,000.00 1,000,000.00 55,000.00 1,055,000.00 2.75% 2.750% 1atUnion 501 1,003,906.25 1.95% 14.05
FHLB 3133MNCJS 05/0602 720 050604 11/06/02 100.0000 1,000,000.00 1,000,000.00 50,500.00 1,050,500.00 2.53% 2.525% 1st Union 501 1,002,500.00 1.95% 14.05
FHLB 3133MJJNI 11/1601 1260 05/16005 05/1111W 100.0000 500,000.00 500,000.00 61,250.00 561,250.00 3.50% 3.500% 1st Union 501 503,281.25 0.98% 12.30
Subtotal 6,382,694.08 6,413,168.21 405,872.50 6,788,566.58 21,482.64 9,324.00 39,798.13 subtotal 6,417,162.83 12.56% 77.24
Fund 502 WR6 COP
FGIC WA 100.0000 196,060.79 196,060.79 196,060.79 1.70% FGIC 502 196,060.79 0.38% 0.00
Te)wd N/A 100.0000 833,342.57 833,342.57 833,342.57 1.70% Texpod 502 833,342.57 1.63% 0.00
FHLB 3133MKYD3 012402 360 012403 0424/02 100.0000 200,000.00 200,000.00 4,900.00 204,900.00 2.45% 2.450% 1st Union 502 200,062.50 0.39% 1.41
FNMA 31359MKT9 082701 708 06/1503 n/c 99.9020 500,000.00 499,510.00 39,333.33 539,333.33 4.05% 4.000% 0.00 Merril 502 509,453.13 0.98% 6.90
FHLB 3133MJVZO 06/1202 512 11/1403 99.6250 500,000.00 498,125.00 18,750.00 518,750.00 2.77% 2.500% 937.50 Vining 1,875.00 502 500,000.00 0.97% 4.99
FHLB 3133MPDAI 0624/02 1080 062405 06/24/03 100.0000 550,000.00 550,000.00 49,500.00 599,500.00 3.00% 3.000% 1atUnion 502 552,664.06 1.07% 11.60
Subtotal 2,779,403.36 2,777,038.36 112,483.33 2,891,886.69 937.50 1,875.00 0.00 subtotal 2,791,583.05 5.42% 24.89
Fund W11-Water Impact Fees
Tepod NIA 100.0000 287,309.18 287,309.18 0.00 287,309.18 1.83% Texpod 505 287,309.18 0.56% 0.00
FGIC N/A 100.0000 0.00 0.00 0.00 0.00 1.70% FGIC 505 0.00 0.00% 0.00
FHLB 3133MJYLS 12/1201 720 12/12/03 0311202 100.0000 500,000.00 500,000.00 30,000.00 530,000.00 3.00% 3.000% Vining 505 501,171.88 0.98% 7.03
Subtotal 787,309.18 787,309.18 30,000.00 817,309.18 0.00 0.00 0.00 subtotal 788,481.06 1.54% 7.03
Fund 507W&!Emergency
FHLB 3133MJJNI 11/16MI 1260 05/1605 05/1602 100.0000 500,000.00 500,000.00 61,250.00 561,250.00 3.50% 3.500% 1st Union 507 503,281.25 0.98% 12.30
Sbbw 500,000.00 500,000.00 61,250.00 561,250.00 subtotal 503,281.25 0.98% 12.30
Fund 506-Wastewater Impact Fees
FGIC N/A 100.0000 164,969.55 164,969.55 164,969.55 1.70% FGIC 508 164,969.55 0.32% 0.00
Texpod N/A 100.0000 609,963.21 609,963.21 609,963.21 0.00% Texpod 508 609,963.21 1.19% 0.00
Subtotal 774,932.76 774,932.76 0.00 774,932.76 0.00 0.00 0.00 subtotal 774,932.76 1.51% 0.00
Fund 5104)ninage
FGIC N/A 100.0000 149,954.29 149,954.29 149,954.29 1.70% FGIC 510 149,954.29 0.29% 0.00
Texpod NIA 100.0000 254,891.48 254,891.48 254,891.48 0.00% Texpod 510 254,891.48 0.50% 0.00
FNMA 3135866A2 07/11/01 539 01/1003 N/C 103.7188 325,000.00 337,085.94 33,150.00 358,150.00 4.21% 6.800% 61.39 Merril 12,085.94 510 333,328.13 0.66% 3.55
Subtotal 729,845.77 741,931.71 33,150.00 762,995.77 61.39 0.00 12,085.94 subtotal 738,173.89 1.45% 3.55
Fund 5114)ralnsge CIP
FGIC N/A 100.0000 328,252.70 328,252.70 0.00 328,252.70 1.70% FGIC 511 328,252.70 0.64% 0.00
Telgod N/A 100.0000 50,403.73 50,403.73 50,403.73 0.00% Texpod 511 50,403.73 0.10% 0.00
Sbblef 378,656.43 378,656.43 0.00 378,656.43 0.00 0.00 0.00 subtotal 378,656.43 0.74% 0.00
Fund 512-Drainage Reserve
Tepod N/A 100.0000 231,119.00 231,119.00 0.00 231,119.00 1.83% Texpod 512 231,119.00 0.45% 0.00
Fund 520-Recreation Classes
FGIC WA 100.0000 135,298.17 135,298.17 0.00 135,298.17 1.70% FGIC 520 135,298.17 0.26% 0.00
Te)pW N/A 100.0000 85,379.41 85,379.41 85,379.41 0.00% Texpod 520 85,379.41 0.17% 0.00
SbOdal 220,677.58 220,677.58 0.00 220,677.58 0.00 0.00 0.00 subtotal 220,677.58 0.43% 0.00
bra
nwesanent
As of,kris 30,
Investment Type Institution
LOGIC Local Govt Pod FNMA Fed.Nett Mat Assoc. FMAC Fed.Home Loan Mort.Corp IST Linton First Union Securities FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money MwkM Pod FFCB Fed.Fenn Credit Bank CD Certificates of Deposit Mn intp Vktng Sparks Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gott Pod FHLB Fed.Home Loan Barts BencOne Banc One Capitol Everen Everen Securities Texpool TEXPOOL
Duncan Duncan Williams LNDMRK Landmark Baric
Cost Accrued
Inv. OAlp Purchase Tam Metuity Call Price Par Bode Value Interest Total Prin.+ Yield To Coupon Interest Sealer Market %Of
Im NIA>Qst IffiStt (in days!Qptt? QQ4 Per 5100 Yll& (Prin.Orh at1140( Inc m Me ri Ms4ad4t 20 Phased !0@1. Discount Premlfund YOM Portfoll WAM
Fund 521,ArborDeze
FGIC WA 100.0000 177,666.44 177,666.44 0.00 177,666.44 1.70% FGIC 521 177,666.44 0.35% 0.00
Texpool N/A 100.0000 50,384.65 50,384.65 0.00 50,384.65 1.70% Texpod 521 50,384.65 0.10% 0.00
Subtotal 228,051.09 228,051.09 0.00 228,051.09 - 0.00 0.00 0.00 subtotal 228,051.09 0.45% 0.00
Fund 530aoftball World-Operating
FGIC WA 100.0000 35,853.57 35,853.57 0.00 35,853.57 1.70% FGIC 530 35,853.57 0.07% 0.00
Texpod WA 100.0000 462,306.84 462,306.84 0.00 462,306.84 1.83% Texpool 530 462,306.84 0.90% 0.00
CD 0423102 365 04238)3 100.0000 5,000.00 5,000.00 100.00 5,100.00 2.00% 2.000% Landmark 530 5,000.00 0.01% 0.04
Subtotal 503,160.40 503,160.40 100.00 503,260.40 0.00 0.00 0.00 subtotal 503,160.40 0.98% 0.04
Fund 5404oif Course
Texpool N/A 100.0000 28,620.71 28,620.71 28,620.71 1.83% To" 540 28,620.71 0.06% 0.00
FGIC N/A 100.0000 0.00 0.00 0.00 1.70% FGIC 540 0.00 0.00% 0.00
Subtotal 28,620.72 28,620.72 0.00 28,620.72 0.00 0.00 0.00 subtotal 28,620.72 0.06% 0.00
Fund 541-Golf CIP
Te)VW N/A 100.0000 148,243.50 148,243.50 0.00 148,243.50 1.83% Texpool 541 148,243.50 0.29% 0.00
Fund 550-Perks at Texas Star
Texpool WA 100.0000 115,480.35 115,480.35 0.00 115,480.35 1.83% To" 550 115,480.35 0.23% 0.00
Fund 552-Phase 1 Athletic Complex
FGIC WA 100.0000 52,604.68 52,604.68 0.00 52,604.68 1.70% FGIC 552 52,604.68 0.10% 0.00
Texpool N/A 100.0000 49,136.33 49,136.33 49,136.33 1.70% To" 552 49,136.33 0.10% 0.00
Subtotal 101,741.01 101,741.01 0.00 101,741.01 0.00 0.00 0.00 subtotal 101,741.01 0.20% 0.00
Fund 601-Equipment Replacement
FGIC WA 100.0000 91,612.58 91,612.58 91,612.58 1.70% FGIC 601 91,612.58 0.18% 0.00
Texpool WA 100.0000 4,390.10 4,390.10 4,390.10 1.83% Texpool 601 4,390.10 0.01% 0.00
SLMA 66387SER7 0125102 540 0725!03 04125/02 100.0000 500,000.00 500,000.00 22,762.50 522,762.50 3.04% 3.035% Vining 601 500,390.63 0.98% 5.27
FHLB 3133ML2F1 0129102 540 0729103 0729102 100.0000 400,000.00 400,000.00 17,340.00 417,340.00 2.89% 2.890% FSW 601 400,375.00 0.78% 4.22
Subtotal 996,002.67 996,002.67 40,102.50 1,036,105.17 0.00 0.00 0.00 Subtotal 996,768.30 1.94% 9.49
Fund 6104nsurance
FGIC WA 100.0000 0.00 0.00 0.00 1.70% FGIC 610 0.00 0.00% 0.00
Texpool WA 100.0000 0.00 0.00 0.00 1.83% Texpool 610 0.00 0.00% 0.00
FMAC 312923CU7 01/1&01 540 07/18102 04/18fi11 100.0000 300,000.00 300,000.00 23,940.00 323,940.00 5.32% 5.320% 1ST Union 610 300,515.63 0.59% 3.16
subtotal 300,000.00 300,000.00 23,940.00 323,940.00 subtotal 300,515.63 0.59% 3.16
Fund 615-Risk Management
FGIC WA 100.0000 46,956.84 46,956.84 46,956.84 1.70% FGIC 615 46,956.84 0.09% 0.00
Texpod WA 100.0000 431,583.04 431,583.04 431,583.04 1.83% Texpool 615 431,583.04 0.84% 0.00
Subtotal 478,539.88 478,539.88 0.00 478,539.88 0.00 0.00 0.00 subtotal 478,539.88 0.93% 0.00
Fund 7054Dallas Stars Escrow Reserve
To" WA 100.0000 2,133,859.87 2,133,859.87 2,133,859.87 1.83% Texpool 705 2,133,859.87 4.17% 0.00
TOTAL 51,077,330.79 51,145,783.71 1,768,124.56 52,838,755.34 82,388.14 31,136.50 108,779.44 TOTAL 51,217,158.17 100.00% 338.98
IpItAll
city a am
Investrmerht M
Aa a SepterMer 30, 2
Investment Type Institution '
LOGIC Local GOVT Pod FNMA Fed.Nat1 Mart Assoc. FMAC Fed.Home Loan Mort.Corp IST Union First Union Securities FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pod FFCB Fed.Farm Credit Baric CD Certificates of Deposit Vining m"Sparks Mertes Menu Lynch FGIC Financial Investors Trust
Tw"d Local G&A Pad FHLB Fed.Home Loan Baric BencOne Bark One Capitol Everen Everen Securities Texpod TEXPOOL
Duncan Duncan Whams LNDMRK Landmark Baric
Cost Accrued
Inv. Cudpi Purchase Tenn Mekxity Call Price Par Book Value Interest Total Pr1n.+ Yield To Coupon Interest Seller Market %Of
mm 21t4 (In days!Dirk Daft Per 5100 Yah& (P.11n-Only) it ma Int Mari Malstri0( Enk Purchased 1J1;Ez. 4(;< Premum Em4 YAM Portfolio W&
Fund 101-General Fund
FGIC WA 100.0000 151,000.00 151,000.00 151,000.00 1.65% FGIC 101 151,000.00 0.30% 0.00
TOPW WA 100.0000 967.47 967.47 967.47 1.87% Te)ool 101 967.47 0.00% 0.00
FHLB 3133MZUA3 05/1302 227 1200102 102.5861 500,000.00 512,930.68 31,050.00 531,050.00 2.06% 6.210% 11,471.25 Boric One 12,930.68 101 505,625.00 1.05% 2.39
FHLB 3133MLS97 022&02 360 02/2&03 100.0000 500,000.00 500,000.00 11,250.00 511,250.00 2.25% 2.250% Banc One 101 501,250.00 1.00% 3.61
FHLB 3133MMGB3 0311402 384 040803 100.0000 1,000,000.00 1,000,ODO.00 27,733.33 1,027,733.33 2.60% 2.600% Boric One 101 1,005,000.00 2.01% 7.71
FNMA 3136FOU75 010702 646 102303 1023102 99.6875 500,000.00 498,437.50 30,700.00 530,700.00 3.25% 3.070% 3,155.28 Duncan 1,562.50 101 500,390.63 1.01% 6.51
FNMA 3136F2DW5 082702 540 022704 1127102 100.0000 500,000.00 500,000.00 16,875.00 516,875.00 2.25% 2.250% Wachovia 101 500,390.63 1.00% 5.42
FNMA 11359MMWO 082802 614 05/1204 05/12103 101.1875 500,000.00 505,937.50 37,500.00 537,500.00 2.04% 3.750% 5,625.00 Vining 5,937.50 101 506,562.50 1.03% 6.31
FMAC 3129247X1 12/1401 876 052004 0520101 99.3125 750,000.00 744,843.75 60,937.50 810,937.50 3.55% 3.250% 1,625.00 Merril 5,156.25 101 766,640.63 1.50% 13.13
FFCB 3133ILSO8 072902 659 052804 102802 100.0000 500,000.00 500,000.00 25,170.14 525,170.14 2.75% 2.750% Duncan 101 500,312.50 1.00% 6.62
FHLB 3133MRL03 0924102 630 062404 1224102 100.0000 500,000.00 500,ODO.00 23,625.00 523,625.00 2.70% 2.700% DUNCAN 101 501,250.00 1.00% 6.33
FMAC 312924VK5 01/1502 1034 1129104 1129102 99.3750 190,000.00 188,812.50 20,235.00 210,235.00 3.78% 3.550% 861.86 FSW 1,187.50 101 190,593.75 0.38% 3.94
FHLB 3133MFZ92 0820102 874 0124105 012403 101.3500 500,000.00 5t18,750.00 65,250.00 565,250.00 2.03% 5.220% 1,885.00 Bane One 6,750.00 101 505,625.00 1.02% 8.93
FHLB 3133MGZL3 0820102 1448 082806 0828103 102.8438 400,000.00 411,375.00 97,200.00 497,200.00 2.56% 5.400% 10,320.00 Vining 11,375.00 101 413,125.00 0.85% 12.26
Subtotal 6,491,967.47 6,521,054.39 447,525.97 6,939,493.44 34,943.39 7,906.25 36,993.18 subtotal 6,548,733.09 13.17% 83.16
Fund 102-Gomml Fund-Emergency
FHLB 3133M0006 0827102 720 082704 1127102 100.0000 500,OD0.00 500,000.00 26,400.00 526,400.00 2.64% 2.640% Wachovia 102 501,718.75 1.001A 7.23
Fund 103.Genoml Fund Contingency
FHLB 3133MRSV5 090= 9D0 0313005 120=2 100.0000 500,000.00 500,000.00 38,250.00 538,250.00 3.06% 3.060% FSW 103 501,484.38 1.00% 9.04
Fund 201-HotoYMael
FGIC WA 100.0000 159,258.70 159,258.70 159,258.70 1.65% FGIC 201 159,258.70 0.32% 0.00
Tepid WA 100.0000 16,618.89 16,618.89 16,618.89 1.87% Tepool 201 16,618.89 0.03% 0.00
subtotal 175,877.60 175,877.60 0.00 175,877.60 0.00 0.00 0.00 subtotal 175,877.60 0.35% 0.00
Fund 210-Half Cent Operations
T-pod WA 100.0000 214,300.04 214,300.04 0.00 214,300.04 1.87% Texpod 210 214,300.04 0.43% 0.00
FGIC WA 100.0000 325,265.39 325,255.39 0.00 325,265.39 1.65% FGIC 210 325,265.39 0.65% 0.00
FNMA 3136FOT85 090502 763 10/1804 10/18102 100.1740 500,000.00 500,870.00 46,875.00 546,875.00 2.26% 3.750% 7,135.42 3ANCONE 870.00 210 500,468.75 1.02% 7.78
Sbtolal 1,039,565.42 1,040,435.42 46,875.00 1,086,440.42 7,135.42 0.00 870.00 subtotal 1,040,034.17 2.10% 7.78
Fund 211-Half Cent Reserve
FGIC NIA 100.0000 950,218.00 950,218.00 0.00 950,216.00 1.65% FGIC 211 950,218.00 1.91% 0.00
Fund 220{rime Control and Prevention
FGIC WA 100.0000 0.00 0.00 0.00 0.00 1.65% FGIC 220 0.00 0.00% 0.00
Twipod WA 100.0000 108,011.72 108,011.72 0.00 108,011.72 1.87% Te>pool 220 108,011.72 0.22% 0.00
FHLB 3133MQZSO 0903102 720 090304 12103102 100.0000 500,000.00 500,000.00 22,500.00 522,500.00 2.25% 2.250% VINING 220 500,468.75 1.00% 7.23
Sblotd 608,011.72 608,011.72 22,500.00 630,511.72 0.00 0.00 0.00 subtotal 608,480.47 1.22% 7.23
Fund 230-Poiice DEA(Federal)
FGIC WA 100.0000 130,589.53 130,589.53 130,589.53 1.65% FGIC 230 130,589.53 0.26% 0.00
T1109001 WA 100.0000 70,394.61 70,394.61 0.00 70,394.61 1.87% Texpool 230 70,394.61 0.14% 0.00
Subtotal 200,984.15 200,984.15 0.00 200,984.15 0.00 OAO 0.00 subtotel 200,984.15 0.40% 0.00
Fund 231-Police DEA(spate)
FGIC WA 100.0000 10,740.28 10,740.28 10,740.28 1.65% FGIC 231 10,740.28 0.02% 0.00
Subtotal 10,740.28 10,740.28 0.00 10,740.28 0.00 0.00 0.00 subtotal 10,740.28 0.02% 0.00
Fund 232-FTW DEA Task Force
Twipool WA 100.0000 30,217.24 30,217.24 0.00 30,217.24 1.87% Tahpool 232 30,217.24 0.06% 0.00
FGIC WA 100.0000 0.00 0.00 0.00 1.65% FGIC 232 0.00 0.00% 0.00
Subtotal 30,217.24 30,217.24 0.00 30,217.24 0.00 0.00 0.00 subtotal 30,217.24 0.06% 0.00
Fund 238 LLEBG 02
FGIC WA 100.0000 20,543.23 20,543.23 20,543.23 1.65% FGIC 234 20,543.23 0.04% 0.00
Fund 240•Car Rental Fund
FGIC WA 100.0000 154,804.73 154,804.73 154,804.73 1.65% FGIC 240 154,804.73 0.31% 0.00
Twood WA 100.0000 80,405.60 80,405.60 80,405.60 1.87% Tenupool 240 80,405.60 0.16% 0.00
FHLB 31331RSL0 0810701 591 032803 n/c 102.6000 300,000.00 307,800.00 34,284.50 334,284.50 4.07% 5.730% 6,064.25 Merril 7,800.00 240 306,093.75 0.63% 3.73
FNMA 31359MKTO 0411202 4153 08/1503 101.2813 890,000.00 901,403.13 53,400.00 943,400.00 3.02% 4.000% 5,636.67 Merril 11,403.13 240 908,495.31 1.82% 8.80
a
In City rrt by
As a september 30,
Investment Type Institution
LOGIC Local GcPA Pod FNMA Fed.Nall Mori Assoe. FMAC Fed.Hone Loan Mort Corp IST Union First Union Securities FSW Finn Sou7evest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pod FFCB Fed.Farts Credit Baric CD Cadficates of Deposit VWrq Vining Sparks Merril Merrill Lynch FDIC Financial Investors Trust
Tenpod Local Govt Pod FHLB Fed.Home Loan Bank BancOns Bene One Capitol Evens Everen Securities Te)Wd TEXPOOL
Duncan Duncan Williams LNDMRK Landmark Bank
Cost Accrued '
Inv. Cuslp Puurdnese Tenn Mekally Cell Price Per Book Value Interest Total Prin.+ Yield To Coupon Interest Seiler Market %of
IM ! pate (in days QW pit! Per st00 Value (Prin.Only) III me lY Int.0 Me Me41d1Y RM Purchased 1= Discount Premium EuW Vawe Portfolo 16M
FFCB 3133ILV96 06/26102 540 1226103 12/26/02 100.0000 500,000.00 500,000.00 22,575.00 522,575.00 3.01% 3.010% Duncan 240 501,562.50 1.00% 5.42
FHLB 3133M76N1 0828102 508 0126104 104.5740 750,000.00 784,305.00 61,987.50 811,987.50 2.20% 5.510% 3,673.33 Merril 34,305.00 240 787,265.63 1.58% 8.04
FHLB 3133MR204 0910= 540 03/05104 12/05/02 100.0000 1,000,000.00 1,000,000.00 33,000.00 1,033,000.00 2.20% 2.200% DUNCAN 240 1,000,781.25 2.01% 10.84
FHLB 3133MRUL4 09rMW 540 03/30104 12130/02 100.0000 500,000.00 500,000.00 16,875.00 516,875.00 2.25% 2.250% WACHOVIA 240 501,250.00 1.00% 5.42
FHLB 3133MJMV9 11/14101 900 05/14104 05114/02 100.0000 500,000.00 500,000.00 42,750.00 542,750.00 3.42% 3.420% 1atUnion 240 501,093.75 1.00% 9.04
FMAC 3129247X1 12/28101 862 05/20104 05/20/02 98.7813 500,000.00 493,906.25 40,625.00 540,625.00 3.79% 3.250% 1,715.28 Menti 6,093.75 240 511,093.75 1.00% 8.58
FHLB 3133MRBD3 09A9102 630 06109104 12/09/02 100.0000 500,000.00 500,000.00 22,750.00 522,750.00 2.60% 2.600% DUNCAN 240 500,781.25 1.00% 6.33
FMAC 312925SB7 06/1802 720 06/18)D4 12116102 100.0000 500,000.00 500,000.00 26,000.00 526,000.00 2.60% 2.600% 1atUnion 240 501,093.75 1.00% 7.23
FHLB 1133MPFP62 07MM 720 07109/04 1010902 100.0000 1,000,000.00 1,000,000.00 67,000.00 1,067,000.00 3.35% 3.350% 1STUnion 240 1,000,312.50 2.01% 14.46
FMAC 312925WNS 07115102 720 07/15104 07/18/03 100.0000 607,000.00 607,000.00 39,455.00 646,455.00 3.25% 3.250% Merril 240 614,302.97 1.22% 8.78
FHLB 3133MPKW5 07/16M 720 07/1604 011111103 100.0000 500,000.00 500,000.00 32,500.00 532,500.00 3.25% 3.250% 1atUnion 240 502,343.75 1.00% 7.23
FHLB 3133MRL83 09/23102 720 0923104 1283/02 100.0000 400,000.00 400,000.00 23,680.00 423,680.00 2.96% 2.960% BANC ONE 240 401,125.00 0.80% 5.78
FNMA 3136FOSO4 05/28102 846 10104104 10MM2 101.0710 200,000.00 202,142.00 25,750.00 225,750.00 2.05% 5.150% 1,545.00 Benton 2,142.00 240 200,062.50 0.41% 3.46
FNMA 3138FIJ68 05r22M 900 1122104 0582105 100.0000 450,000.00 450,000.00 44,437.50 494,437.50 3.95% 3.950% Merril 240 456,679.69 0.90% 8.13
FHLB 3133MORPI 0828102 1260 022806 028(103 99.9500 350,000.00 349,825.00 42,936.25 392,936.25 3.52% 3.505% FSW 175.00 240 351,968.75 0.70% 8.85
Subtotal 9,682,210.33 9,731,591.71 630,005.75 10,312,216.08 18,634.53 6,268.75 55,650.13 subtotal 9,781,516.42 19.58% 130.11
Fund 3014*velopees Escrow
FGIC N/A 100.0000 59,102.06 59,102.06 59,102.06 1.65% FGIC 301 59,102.06 0.12% 0.00
Texpod N/A 100.0000 490,080.38 490,080.38 490,080.38 1.87% Te>gnod 301 490,080.38 0.98% 0.00
FHLB 313311 06/11101 484 10/15102 NIC 100.6590 500,000.00 503,295.00 35,062.50 535,062.50 4.16% 4.675% 3,636.11 BancOne 3,295.00 301 500,625.00 1.02% 4.93
FNMA 31364AXY3 06/14/01 627 03/11103 NIC 102.6702 97,000.00 99,590.13 12,787.83 109,787.83 4.39% 6.000% 2,651.33 FSW 2,590.13 301 98,894.53 0.21% 1.29
FHLB 1133MNWB3 06/12102 450 0911203 12/12/02 100.0000 500,000.00 500,000.00 18,750.00 518,750.00 3.00% 3.000% Duncan 301 501,406.25 1.00% 4.52
Slblotal 1,646,182.44 1,652,067.56 66,600.33 1,712,782.77 6,287.44 0.00 5,885.13 subtotal 1,650,108.22 3.33% 10.73
Fund 305Streets CIP
FGIC N1A 100.0000 6,865,032.60 6,865,032.60 0.00 6,865,032.60 1.65% FGIC 305 6,865,032.60 13.79% 0.00
Teitpod WA 100.0000 1,367,051.56 1,367,051.56 0.00 1,367,051.56 1.87% TEXPOOL 305 1,367,051.56 2.75% 0.00
Subtotal 8,232,064.16 8,232,084.16 0.00 8,232,084.16 0.00 0.00 0.00 subtotal 8,232,084.16 16.53% 0.00
Fund 310-Haff Cent CIP
FGIC WA 100.0000 74,804.38 74,804.38 0.00 74,804.38 1.65% FGIC 310 74,804.38 0.15% 0.00
Te)(Pod WA 100.0000 271,266.12 271,266.12 271,266.12 1.87% Te)ool 310 271,266.12 0.54% 0.00
Subtotal 346,070.51 346,070.51 0.00 346,070.51 0.00 0.00 0.00 subtotal 346,070.51 0.69% 0.00
Fund 320-0.0.CIP-Fire Station
TwWd N/A 100.0000 109,086.15 109,086.15 109,086.15 1.87% To" 320 109,086.15 0.22% 0.00
Subtotal 109,086.15 109,086.15 109,086.15 0.00 0.00 0.00 subtotal 109,086.15 0.22% 0.00
Fund 32"ollce Facility CIP
FGIC WA 100.0000 226,822.09 226,822.09 0.00 226,822.09 1.65% FGIC 325 226,822.09 0.46% 0.00
T"001 WA 100.0000 0.00 0.00 0.00 1.87% Te:,Vool 325 0.00 0.00% 0.00
subtotal 226,822.09 226,822.09 0.00 226,822.09 0.00 0.00 0.00 subtotal 226,822.09 0.46% 0.00
Fuad 330•Cer Rental CIP
FOIC WA 100.0000 6,952.58 6,952.58 6,952.58 1.65% FGIC 330 6,952.58 0.01% 0.00
To" WA 100.0000 77,810.21 77,810.21 77,810.21 1.87% Texpool 330 77,810.21 0.16% 0.00
Subtotal 84,762.79 84,762.79 0.00 84,762.79 0.00 0.00 0.00 subtotal 84,762.79 0.17% 0.00
Fund 401-Debt Service
Te)pod N/A 100.0000 0.00 0.00 0.00 1.87% Te)(Pool 401 0.00 0.00% 0.00
FGIC N/A 100.0000 251,767.81 251,767.81 251,767.81 1.65% FGIC 401 251,767.81 0.51% 0.00
Subtotal 251,767.81 251,767.81 0.00 251,767.81 0.00 0.00 0.00 subtotal 251,767.81 0.51% 0.00
Fund 4024tar Canter Debt Service
Telupod N/A 100.0000 110,376.39 110,376.39 110,376.39 1.87% Te)" 402 110,376.39 0.22% 0.00
Subtotal 110,376.39 110,376.39 0.00 110,376.39 0.00 0.00 0.00 subtotal 110,376.39 0.22% 0.00
Cly of E
Irrveatirnent b1l
As of September 30,2002
Investment Type Instltutlon
LOGIC Local Govt Pod FNMA Fed.Nett Mort Assoc. FMAC Fed.Home Loan Mort Corp 1 ST Union First Union Securities FSW First SouOavesl LOGIC Local Govt Inveshnem Coop. -
FGIC Maty Market Pod FFCB Fed.Fenn Credit Bank CD Certificates of Deposlt Vining Vining Sparks Merril Menti Lynch FGIC Financial Investors Trust
Terpod Local Govt Pod FHLB Fed.Horne Loan Banc BencOrb Banc One Capital Everen Everen Securities Texpool TEXPOOL
Duncan Duncan Williams LNDMRK Landmark Bank
Coat Accrued
Inv. Cuskp Purchase Term Meturily Call Price Par Book Value interest Total Prin.+ Yield To Coupon Interest Star Markt %of
im DO (in dm 21k 2212 Pa3124 YSlhm (Prin.Oniv) a Bmri( 1nL@ MMR& Purchased 1011 Disc Prernisrm E" Y" Portfolio riAM
Fund 601-Water and Sewer
LOGIC N/A 100.0000 57.71 57.71 57.71 1.82% LOGIC 501 57.71 0.00% 0.00
FGIC WA 100.0000 50,760.15 50,760.15 50,760.15 1.65% FGIC 501 50,760.15 0.10% 0.00
Terpod WA 100.0000 534,511.66 534,511.66 534,511.66 1.87% TEXPOOL 501 534,511.66 1.07% 0.00
FHLMC 3134A3T48 06/11)01 484 10/15/02 NIC 102.7118 1,000,000.00 1,027,118.13 93,750.00 1,093,750.00 4.15% 6.250% 9,722.22 FSW 27,118.13 501 1,001,875.00 2.08% 10.08
FNMA 3lW4FGD7 06/12101 510 11/12102 NIC 102.5360 500,000.00 512,680.00 47,100.00 547,100.00 4.41% 6.280% 2,616.67 Merril 12,680.00 501 502,656.25 1.03% 5.28
FFCB 31331L2V9 07/03002 450 10)03)03 10/03/02 100.0000 500,000.00 500,000.00 16,562.50 516,562.50 2.65% 2.650% 1ST Union 501 500,000.00 1.00% 4.52
FHLB 3133MJXD7 04M7)02 587 12)04/03 98.9640 900,000.00 890,676.00 49,500.00 949,500.00 3.41% 2.750% 9,143.75 Boric One 9,324.00 501 911,812.50 1.81% 10.61
FNMA 3136FIEL0 01/0902 720 01109104 01109)03 100.0000 1,000,000.00 1,000,000.00 55,000.00 1,055,00(11.00 2.75% 2.750% 1stUnlon 501 1,002,031.25 2.01% 14.46
FHLB 3133MNCJ8 05/)8)02 720 05106/04 11/06/02 100.0000 1,000,ODO.00 1,000,000.00 50,500.00 1,050,500.00 2.53% 2.525% 1st Union 501 1,000,625.00 2.01% 14.46
FHLB 3133MJJN1 11/16)01 1260 05/16105 05118)02 100.0000 500,000.00 500,000.00 61,250.00 561,250.00 3.50% 3.500% 1t Union 501 501,093.75 1.00% 12.65
Subtotal 5,985,329.52 6,015,803.65 373,662.50 6,358,992.02 21,482.64 9,324.00 39,798.13 subtotal 6,005,423.27 12.12% 72.05
Fund 602-W6S CIP
FGIC WA 100.0000 196,866.53 196,866.53 196,866.53 1.65% FGIC 502 196,866.53 0.40% 0.00
Tefpod NIA 100.0000 1,631,497.81 1,631,497.81 1,631,497.81 1.87% Texpod 502 1,631,497.81 3.28% 0.00
FNMA 31359MKT9 0827)01 708 08/15103 nk 99.9020 500,000.00 499,510.00 39,333.33 539,333.33 4.05% 4.000% 0.00 Merril 502 510,390.63 1.00% 7.10
FHLB 3133MJVZ0 06/12/02 512 11/14103 99.6250 500,000.00 498,125.00 18,750.00 518,750.00 2.77% 2.500% 937.50 Vining 1,875.00 502 505,156.25 1.00% 5.13
FHLB 3133MPDAI 0624)02 1080 0624/05 0624/03 100.0000 550,000.00 550,000.00 49,500.00 599,500.00 3.00% 3.000% 1st Union 502 552,921.88 1.10% 11.93
Subtotal 3,378,364.34 3,375,999.34 107,583.33 3,485,947.67 937.50 1,875.00 0.00 Subtotal 3,396,833.09 6.78% 24.16
Fund 605-Water Impact Fees
Telpod N/A 100.0000 641,779.95 641,779.95 0.00 641,779.95 1.87% Texpool 505 641,779.95 1.29% 0.00
FGIC N/A 100.0000 0.00 0.00 0.00 0.00 1.65% FGIC 505 0.00 0.00% 0.00
FHLB 3133MRAM4 09/10)02 360 09/10103 10/10/02 100.0000 1,000,000.00 1,000,000.00 20,000.00 1,020,000.00 2.00% 2.000% BANC ONE 505 1,000,000.00 2.01% 7.23
Subtotal 1,641,779.95 1,641,779.95 20,000.00 1,661,779.95 0.00 0.00 0.00 subtotal 1,641,779.95 3.30% 7.23
Fund 507-W&S Emergency
FHLB 3133MJJNI 11/1&01 1260 05/16/05 05116102 100.0000 500,000.00 5110,000.00 61,250.00 561,250.00 3.50% 3.500% 1st Union 507 501,093.75 1.00% 12.65
Slblow 500,000.00 500,000.00 61,250.00 561,250.00 subtotal 501,093.75 1.00% 12.65
Fund 60S-WastamterImpact Fees
FGIC N/A 100.0000 165,647.50 165,647.50 165,647.50 1.65% FGIC 508 165,647.50 0.33% 0.00
Texpool N/A 100.0000 167,705.34 167,705.34 167,705.34 1.87% Terpod 506 167,705.34 0.34% 0.00
FHLB 3133MRCP5 09/16)02 720 09/161D4 10/16/02 100.0000 500,000.00 500,000.00 27,800.00 527,800.00 2.78% 2.780% BANC ONE 508 500,234.35 1.00% 7.23
S1bSptel 833,352.84 833,352.84 27,800.00 861,152.84 0.00 0.00 0.00 subtotal 833,587.19 1.67% 7.23
Fund 510Zralnege
FGIC WA 100.0000 150,570.54 150,570.54 150,570.54 1.65% FGIC 510 150,570.54 0.30% 0.00
Texpool WA 100.0000 131,795.36 131,795.36 131,795.36 1.87% Telpod 510 131,795.36 0.26% 0.00
FNMA 3135888A2 07/11)01 539 01/10103 NIC 103.7188 325,000.00 337,085.94 33,150.00 358,150.00 4.21% 6.800% 61.39 Merril 12,085.94 510 329,570.31 0.68% 3.65
Subtotal 607,365.90 619,451.84 33,150.00 640,515.90 61.39 0.00 12,085.94 subtotal 611,936.21 1.24% 3.65
Fund 611-Drainage CIP
FGIC N/A 100.0000 329,601.69 329,601.69 0.00 329,601.69 1.65% FGIC 511 329,601.69 0.66% 0.00
Texpool NIA 100.0000 50,663.97 50,663.97 50,663.97 1.87% Texpool 511 50,663.97 0.10% 0.00
Subtotal 380,265.66 380,265.66 0.00 380,265.66 0.00 0.00 0.00 subtotal 380,265.66 0.76% 0.00
Fund 612-Drainage Reserve
Te/pod WA 100.0000 231,119.00 231,119.00 0.00 231,119.00 1.87% Te/pool 512 231,119.00 0.46% 0.00
Fund 620-Recreation Classes
FGIC N/A 100.0000 135,854.19 135,854.19 O.DO 135,854.19 1.65% FGIC 520 135,854.19 0.27% 0.00
Texpool N/A 100.0000 20,583.00 20,583.00 20,583.00 1.87% Texpool 520 20,583.00 0.04% 0.00
Subtotal - 156,437.19 156,437.19 0.00 156,437.19 0.00 0.00 0.00 subtotal 156,437.19 0.31% 0.00
Ik7I1111e�1A
city of
45 Investitlar4
As of September 30,2002
Investment Type Institution
LOGIC Leal Govt Pod FNMA Fed.Nall Mart Assoc. FMAC Fed.Home Loan Mort Corp IST Unlon First Union Securities FSW First Souft"st LOGIC Local Govt In vestrnent Coop.
FGIC Money Market Pod FFCB Fed.Fenn Credit Bank CD Certificates of Deposit Vining Vining Sparks Merril Merrill Lynch FGIC Finendal Investors Trust
To"d Loa!Govt Pod FHLB Fed.Home Loan Bank BancOns Banc One Capital Everen Everen Securities Te
xpod TEXPOOL
Duncan Duncan Wflams LNDMRK Landmark Bank
Cost Accrued
Irv. Culp Purchase Term Matu lty Call Price Par Book Value interest Total Prin.+ Yield To Coupon Interest Seller Market %of
I= Number 26M (IB dm Usk 26al Per$100 Value (Edn.Orly) &me int @ MMaturity 80 PIS 1!>iL 21 Prem) E" Value PffiL4l4 WAM
Fund 521-Arbor Doze
FGIC WA 100.0000 178,396.57 178,396.57 0.00 178,396.57 1.65% FGIC 521 178,396.57 0.36% 0.00
Twp)ol N/A 100.0000 50,644.79 50,644.79 0.00 50,644.79 1.87% Texpool 521 50,644.79 0.10% 0.00
Subtotal 229,041.36 229,041.36 0.00 229,041.36 0.00 0.00 0.00 subtotal 229,041.36 0.46% 0.00
Fund 5304"boll World-Operating
FGIC WA 100.0000 36,000.91 36,000.91 0.00 36,000.91 1.65% FGIC 530 36,000.91 0.07% 0.00
TeVocl N/A 100.0000 494,852.31 494,852.31 0.00 494,852.31 1.87% Texpool 530 494,652.31 0.99% 0.00
CD 04/23/02 365 0423/03 100.0000 5,000.00 5,000.00 100.00 5,100.00 2.00% 2.000% Landmark 530 5,000.00 0.01% 0.04
Subtotal 535,853.22 535,853.22 100.00 535,953.22 0.00 0.00 0.00 subtotal 535,853.22 1.08% 0.04
Fund 540-Golf Course
Tetpod N/A 100.0000 0.00 0.00 0.00 1.87% Texpod 540 0.00 0.00% 0.00
POIC N/A 100.0000 0.00 0.00 0.00 1.65% FGIC 540 0.00 0.00% 0.00
Sbtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 subtotal 0.00 0.00% 0.00
Fund 541-Golf CIP
T09001 WA 100.0000 149,008.89 149,008.89 0.00 149,008.89 1.87% Te)qool 541 149,008.89 0.30% 0.00
Fund 550-Perks at Texas titer
Texpod N/A 100.0000 55,798.77 55,798.77 0.00 55,798.77 1.87% Te1Wol 550 55,798.77 0.11% 0.00
Fund 552-Phase 1 Athletic Complex
FGIC WA 100.0000 52,820.86 52,820.86 0.00 52,820.86 1.65% FGIC 552 52,820.86 0.11% 0.00
Tex" N/A 100.0000 89,532.59 89,532.59 89,532.59 1.87% Texpod 552 89,532.59 0.18% 0.00
Subtotal 142,353.46 142,353.46 0.00 142,353.46 0.00 0.00 0.00 subtotal 142,353.46 0.29% 0.00
Fund 1101-Equipment Replacement
FGIC N/A 100.0000 91,989.07 91,989.07 91,989.07 1.65% FGIC 601 91,989.07 0.18% 0.00
Texpod WA 100.0000 280,780.19 280,780.19 280,780.19 1.87% Te)q)od 601 280,780.19 0.56% 0.00
FHLB 3133MPL53 07/16WY2 630 0016/04 10/19/02 100.0000 500,000.00 500,000.00 27,562.50 527,562.50 3.15% 3.150% Duncan 601 500,312.50 1.00% 6.33
Subtotal 872,769.26 872,769.26 27,562.50 900,331.76 0.00 0.00 0.00 Subtotal 873,081.76 1.75% 6.33
Fund 610ansursnce
FGIC WA 100.0000 0.00 0.00 0.00 1.65% FGIC 610 0.00 0.00% 0.00
Texpool N/A 100.0000 35,313.50 35,313.50 35,313.50 1.87% Texpod 610 35,313.50 0.07% 0.00
sutNof, 35,313.50 35,313.50 0.00 35,313.50 subtotal 35,313.50 0.07% 0.00
Fund 615-Risk Management
FGIC N/A 100.0000 47,149.82 47,149.82 47,149.82 1.65% FGIC 615 47,149.82 0.09% 0.00
Texpod N/A 100.0000 438,789.18 438,789.18 438,789.18 1.87% Texpod 615 438,789.18 0.88% 0.00
Subtotal 485,938.99 485,938.99 0.00 485,938.99 0.00 0.00 0.00 subtotal 485,938.99 0.98% 0.00
Fund 705-0allas Stars Escrow Reserve
Texpod WA 100.0000 2,143,976.97 2,143,976.97 2,143,976.97 1.87% Texpod 705 2,143,976.97 4.31% 0.00
TOTAL 49,581,556.01 49,706,975.10 1,929,265.39 $1,510,622.00 69,462.31 25,374.00 151,262.51 TOTAL 49,790,469.15 100.00% 396.62
Ca
Sehedul hoses
For July 31,2002
Imsahnsnt TypeInstitution
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 Pod FFCB Fed.Farre Credit Bank FMAC Fed.Home Loan Mort Corp. Vining Vining Sparks Merrill 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 Chase Chase Securities
Cost Accrued Total P+I
Inv. Cusip Purchase Term Maturity Call Price Par Book Value Interest Total Yield To Coupon Interest Seller Mafy Net of Total Cost
Type Num het Date (iu days) Dale Dila Per&100 YaWe (Prin.Only 0 mat at Prin*Int Mahal Bate Purchased lost. Discount Premium Eund Prem.Disc A Int P of Invastmen
FFCB 31331L2V9 07/03/02 450 10/03/03 10103102 100.0000 500,000.00 500,000.00 16,562.50 516,562.50 2.65% 2.650% 1ST Union 501 516,562.50 500,000.00
Texpool 07/03/02 100.0000 600,000.00 600,000.00 0.00 600,000.00 1.91% Texpool various 600,000.00 600,000.00
FHLB 3133MPFP62 07/09/02 720 07/09/04 10/09102 100.0000 1,000,000.00 1,000,000.00 67,000.00 1,067,000.00 3.35% 3.350% 1ST Union 240 1,067,000.00 1,000,000.00
Texpool 07/09/02 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 1.91% Texpool various 1,000,000.00 1,000,000.00
Texpool 07/10)02 100.0000 1,300,000.00 1,300,000.00 0.00 1,300,000.00 1.90% Texpool various 1,300,000.00 1,300,000.00
FMAC 312925WN6 07/15/02 720 07/15/04 07/15/03 100.0000 607,000.00 607,000.00 39,455.00 646,455.00 3.25% 3.250% Merrill 240 646,455.00 607,000.00
FHLB 3133MPGL4 07/15/02 390 08/15/03 081`15102 100.0000 500,000.00 500,000.00 13,758.33 513,758.33 2.54% 2.540% Banc One 101 513,758.33 500,000.00
FHLB 3133MPL53 07/16/02 630 04/16/04 10MGM2 100.0000 500,000.00 500,000.00 27,562.50 527,562.50 3.15% 3.150% Duncan 601 527,562.50 500,000.00
FHLB 3133MPKW5 07/16/02 720 07/16/04 01/16103 100.0000 500,000.00 500,000.00 32,500.00 532,500.00 3.25% 3.250% 1slUnion 240 532,500.00 500,000.00
Texpod 07/18/02 100.0000 2,000,000.00 2,000,000.00 0.00 2,000,000.00 1.88% Texpool various 2,000,000.00 2,000,000.00
Texpool 0725/02 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 1.89% Texpool various 1,000,000.00 1,000,000.00
Texpool 0729/02 100.0000 500,000.00 500,000.00 0.00 500,000.00 1.90% Texpool various 500,000.00 500,000.00
FFCB 31331L5G9 0729/02 659 0528/04 1028102 100.0000 500,000.00 500,000.00 25,170.14 525,170.14 2.75% 2.750% Duncan 101 525,170.14 500,000.00
TOTALS: 10,507,000.00 10,507,000.00 222,008.47 10,729,008.47 2.49% 0.00 0.00 0.00 10,729,008.47 10,507,000.00
LOGIC DIVIDENDS REINVESTED 0.09 0.09
TEXPOOL DIVIDENDS REINVESTED 19,804.18 19,804.18
FGIC DIVIDENDS REINVESTED 15,339.15 15,339.15
fllAlt>�111 Illllsltt•� taalsllA
Cs
Schedulul e hoses
For August 2002
Inres6nentType Institution
LOGIC Local Gov't Pod FNMA Fed.Nail Mort.Assoc. FHLB Fed.Home Loan Bank FGIC Finanacial 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 Gov't Investment Cooperative
SI-MA 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 Q
Inv. Cusip Purchase Tenn Maturity Call Price Par Book Value Interest Total Yield To Coupon Interest Seller Mary Net of Total Cost
Type Num hM Date jjp_days) Data Qate Par 11 value (Priv Only ab ma(y Pda+In Maturity Bate Purehaeed 1psL Discount Premium Eund Prem_Dise R Int P of Investment
Texpool 08/06/02 100.0000 81,308.33 81,308.33 0.00 81,308.33 1.88% Texpool various 81,308.33 81,308.33
Texpool 08/09/02 100.0000 2,000,000.00 2,000,000.00 0.00 2,000,000.00 1.83% Texpool various 2,000,000.00 2,000,000.00
Texpool 08/14/02 100.0000 1,600,000.00 1,600,000.00 0.00 1,800,000.00 1.85% Texpool various 1,600,000.00 1,600,000.00
Texpool 08/15/02 100.0000 1,600,000.00 1,600,000.00 0.00 1,600,000.00 1.93% Texpool various 1,600,000.00 1,600,000.00
FHLB 3133MFZ92 0820/02 874 01/24/05 01/24/03 101.3500 500,000.00 506,750.00 65,250.00 565,250.00 2.03% 5.220% 1,885.00 Banc One 6,750.00 101 556,615.00 508,635.00
FHLB 3133MGZL3 0820/02 1448 08/28/06 0828103 102.8438 400,000.00 411,375.00 97,200.00 497,200.00 2.56% 5.400% 10,320.00 Vining 11,375.00 101 475,505.00 421,695.00
FHLB 3133MOEF7 0822/02 900 0223/05 09123/02 100.0000 500,000.00 500,000.00 40,625.00 540,625.00 3.25% 3.250% Wachovia 103 540,625.00 500,000.00
Texp)d 0823/02 100.0000 600,000.00 600,000.00 0.00 600,000.00 1.84% Texpool various 600,000.00 600,000.00
FNMA 3136F2DW5 0827/02 540 02/27/04 11/27102 100.0000 500,000.00 500,000.00 16,875.00 516,875.00 2.25% 2.250% Wachovia 101 516,875.00 500,000.00
FHLB 3133MOLIC6 0827/02 720 0827/04 1127102 100.0000 500,000.00 5001000.00 26,400.00 526,400.00 2.64% 2.640% Wachovia 102 526,400.00 500,000.00
FHLB 3133M76N1 08/28/02 508 0126/04 104.5740 750,000.00 784,305.00 61,987.50 811,987.50 2.20% 5.510% 3,673.33 Merrill 34,305.00 240 774,009.17 787,978.33
FNMA 31359MMW0 0828M2 614 05/12/04 O5H2103 101.1875 500,000.00 505,937.50 37,500.00 537,500.00 2.04% 3.750% 5,625.00 Vining 5,937.50 101 525,937.50 511,562.50
FHLB 3133MORP1 082&02 1260 0228/06 0228103 99.9500 350,000.00 349,825.00 42,93625 392,936.25 3.52% 3.505% FSW 175.00 240 392,936.25 349,825.00
Texpool 0829/02 100.0000 300,000.00 300,000.00 0.00 300,000.00 1.92% Texpool various 300,000.00 300,000.00
TOTALS: 10,181,308.33 10,239,500.83 388,773.75 10,570,082.08 2.27% 21,503.33 175.00 58,367.50 10,490,211.25 10,261,004.16
LOGIC DIVIDENDS REINVESTED 0.09 0.09
TEXPOOL DIVIDENDS REINVESTED 22,738.45 22,738.45
FDIC DIVIDENDS REINVESTED 16,192.79 16,192.79
ar
Sctwcdut• sties
For September 2002
Inv sboerrt TypeInstitution
LOGIC Load GM Fool FNMA Fed.Nall Mam
Mort,Assoc. FHLB Fed.Hoe Loan Bank FGIC FhWmCIW investors TraitFSW First SM&TWeat LNDMRK Land nark Bank
FGIC Morley Market Pod FFCB Fed.Farm Credt Bank FMAC Fed.Home Loan Mort Corp. V nftV Vining Sparks Mend Merrill Lynch LOGIC Local Govt Investment Cooperative
SLMA Student Loan Mort Assoc. TNOTE Treasury Nage CD Co"cete of Deposit BANCONE Banc One Capita/ Everen Everen Securities Chase Chase securities
Cost Accrued Total P+I
Inv. Clrsip Purchase Term Maturity Call Price Par Book Valle Irdareat Total Yield To Coulon interest Serer Maty Not of Totel Cost
Dm l!! DW (in 94YS) no Por5100 Y" (PrIn.QnM Ql Pdn+I m ( $!SA Purchased Im Disc Praft Emil Prem.Disc d lid Pu Of
FHLB 3133MOZ80 OW03/92 720 09103104 12!03!02 100.0000 500,000.00 500,000.00 22,500.00 522,500.00 2.25% 2.250% VINING 220 522,500.00 500,000.00
Tv"ol 09/05102 100.0000 81,542.71 81,542.71 0.00 81,542.71 1.87% Tetglool 402 81,542.71 81,542.71
FNMA 313SF0T85 09105002 763 10!18/04 i0fll= 100.1740 500,000.00 500,870.00 46,875.00 546,875.00 2.26% 3.750% 7,135,42 BA14CONE 870.00 210 538,869.58 508,005.42
FHLB 3133MR204 09005102 540 03/05/04 12!45102 100.0000 1,000,000.00 110001000.00 33,000.00 1,033,000.00 2.20% 2.200% DUNCAN 240 1,033,000.00 1,000,000.00
FHLB 3133MRBD3 09109142 630 06009104 12!08!02 100.0000 500,000.00 500,000.04 22,750.00 522,750.00 2.60% 2.800% DUNCAN 240 522,750.00 500,000.00
FHLB 3133MRAM4 09110)02 360 09!1003 14110142 100.0000 1,000,000.00 1,000,000.00 20,000.00 1,020,000.00 2.00% 2.000% BANC ONE 505 1,020,000.00 1,000,000.00
FHLB 3133MROP5 0W`1W2 720 09!16/04 10118102 100.000(1 500,00000 500,000.00 27,800.00 527,800.00 2.78% 2.780% BANC ONE 508 527,800.00 500,000.00
FHLB 3133MRL83 09123102 720 09123104 1223002 100.0000 400,000100 400,000.00 23,680.00 423,680.00 2.96% 2.960% BANC ONE 240 423,680.00 400,000.00
FHLB 3133MRLQ3 09124/02 630 06+24/04 12124/02 100.0000 500,000.00 500,000.00 23,62500 523,625.00 2.70% 2.700% DUNCAN 101 523,625.D0 500,000.00
FHLB 3133MRSV5 09130102 900 031.40005 12130/02 100.0000 500,000.00 5W .000.D0 38,250.00 538,250.00 3.06% 3.060% FSW 103 538,250.00 500,000.00
FHLB 3133MRUL4 09130102 540 03130/04 12130102 100.0000 500,000.00 500,ODO.00 16,875.00 516,875.00 2.25% 2.250% WACHOVIA 240 516,875.00 500,000.00
TOTALS: 5,981,542.71 5,982,412.71 275,355.00 6,256,897.71 2.45% 7,135.42 0.00 870.00 6,248,892.29 5,989,548.13
LOGIC DIVIDENDS REINVESTED 0.09 0.09
TEXPOOL DIVIDENDS REINVESTED 17,566.39 17,566.39
FGIC DIVIDENDS REINVESTED 13,453.64 13,453.64
45 City
Schedu titles
For Jury ,2002
Investment Type Institution
LOGIC Local Govt Pod FNMA Fed.Nall Mort Assoc. FHLB Fed.Home Loan Bank FGIC Flnanacial 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 Govt Investment Cooperative
SLMA Student Loan Mort.Assoc. TNOTE Treasury Note CD Certificate of Deposit BANCONE Banc One Capital Everen Everen Securities Chase Chase Securities
Terre to Cost Accrued Total P+I
Inv. Cusip Purchase Maty/Call Maturity Call Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Mary or call Net of Total Cost
Typo (lumbo[ Data (in days! Date Date Per 5100 V9We (Prin.Only ®mafyLCall Int.d%Mar Matu Ela Purchased Inst, Djq�pyn( Premj, Fund prem 8 Int Pur. of Investment
Texpool 07/02/02 100.0000 500,000.00 500,000.00 0.00 500,000.00 1.93% Texpool various 500,000.00 500,000.00
FHLB 3133MML68 04/03/02 540 10/03t02 07/03/02 100.0000 500,000.00 500,000.00 25,425.00 525,425.00 3.39% 3.390% Duncan 101 525,425.00 500,000.00
FHLB 313MNPL9 06/03/02 390 07/03t03 07/03/02 100.0000 800,000.00 800,000.00 21,000.00 821,000.00 2.63% 2.625% Banc One 101 821,000.00 800,000.00
Texpool 07/08/02 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 1.90% Texpool various 1,000,000.00 1,000,000.00
FHLB 3133MKSP3 01/08/02 540 07/08/03 07/08/02 100.0000 1,000,000.00 1,000,000.00 45,450.00 1,045,450.00 3.03% 3.030% Vining 240 1,045,450.00 1,000,000.00
Texpool 07/15/02 100.0000 1,100,000.00 1,100,000.00 0.00 1,100,000.00 1.94% Texpool various 1,100,000.00 1,100,000.00
Texpool 07/16/02 100.0000 1,300,000.011 1,300,000.00 0.00 1,300,000.00 1.90% Texpool various 1,300,000.00 1,300,000.00
FHLB 3133MHWT7 10/17/01 720 10/17/03 07/17/02 100.0000 1,000,000.00 1,000,000.00 68,800.00 1,068,800.00 3.44% 3.440% 1slUnion 240 1,068,800.00 1,000,000.00
FMAC 312923CU7 01/18/01 540 07/18/02 nlc 100.0000 1,000,000.00 1,000,000.00 79,800.00 1,079,800.00 5.32% 5.320% 1ST Union 101 1,079,800.00 1,000,000.00
Te)rpod 07/23/02 100.0000 500,000.00 500,000.00 0.00 500,000.00 1.90% Texpool various 500,000.00 500,000.00
FHLB 3133MKYD3 01/24/02 360 0124/03 0724/02 100.0000 500,000.00 500,000.00 12,250.00 512,250.00 2.45% 2.450% 1st Union 401 512,250.00 500,000.00
SLMA 86387SER7 0125102 540 0725/03 0725102 100.0000 500,Do0.00 500,000.00 22,762.50 522,762.50 3.04% 3.035% Vining 601 522,762.50 5110,000.00
SLMA 86387SER7 0125/02 540 0725103 0725/02 100.0000 500,000.00 500,000.00 22,762.50 522,762.50 3.04% 3.035% Duncan 501 522,762.50 500,000.00
FHLB 3133ML2F1 0129/02 540 0729103 0729102 100.0000 1,000,000.00 1,000,000.00 43,350.00 1,043,350.00 2.89% 2.890% FSW 240 1,043,350.00 1,000,000.00
FNMA 3136F0004 10101/01 1019 07/30104 07130102 101.5938 500,000.00 507,968.75 71,613.06 571,613.06 3.10% 5.060% 4,286.94 Vining 7,968.75 240 559,357.37 512,255.69
Texpooi 07/31102 100.0000 1,200,000.00 1,200,000.00 0.00 1,200,000.00 1.94% Texpool various 1,200,000.00 1,200,000.00
TOTAL 12,900,000.00 12,907,968.75 413,213.06 13,313,213.06 2.74% 4,286.94 0.D0 7,968.75 13,300,957.37 12,912,255.69
INVESTMENT COMMITTEE MEETING
01/28/03
*Annual Review, FY 02
Introduction
I. Portfolio Summary
ll. Performance Summary
III. Interest Income Summary
IV. Collateral Review
V. Broker Selection Process
VI. Summary
*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, 2002
Appendix F - End of Month Reports October 2001 -September 2002
*General Discussion and Questions
To Investment Committee Members
From Vicki Rodriquez, Finance Administrator
Date January 28, 2003
Subject Annual Investment Report
The City of Euless Investment Policy, adopted by the City Council in January 2002,
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 2001-2002 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, 2001 in all aspects including reporting.
The fourth quarter report of FY 2002 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
6/30/2002, changes in market value, the market value at 9/30/2002, 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.
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 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 Fiscal and Administrative Services as the
responsible manager for the City's investment program and as such has delegated the daily investment
procedures to the Finance Administrator.
In compliance with the City's investment policy, the Finance 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
securities allowed by Chapter 2256 of the Texas Government Code entitled the "Public Funds
Investment Act'; 2) using delivery vs. payment for all purchases; 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 parry 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
payable, debt service, and capital improvement disbursements. The City also utilizes money market
funds and local government investment pools to provide daily liquidity needs. The yield or rate of return
which the City receives is measured against the 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 166 basis points.
The information contained in this report will quantitatively and graphically demonstrate the achievement
of these City objectives for Fiscal Year 2001-02.
Investment Strategy Compliance
The strategy for all pooled funds is to assure that cash flows are matched with projected needs and
assume adequate liquidity and safety. This has been accomplished by purchasing high quality
securities in a laddered structure and by utilizing an investment pool(See Appendix E). The following
purposes are also considered when investing;
-Operating Funds may purchase high quality short-to medium-term securities with a weighted
average maturity of 60 to 90 days. These funds include:
101 General Fund 501 Water&Sewer Fund
201 Hotel-Motel Tax Fund 510 Drainage Utility
210 1/2 Cent Sales Tax-Operations 520 Recreation Classes Fund
220 Crime Control&Prevention District 521 Arbor Daze Fund
230 Police Drug-DEA Awards 530 Softball World-Operations
231 Police Drug-State Awards 540 Golf Course Operations
232 Ft.Worth DEA Task Force 550 Athletic Complex operations
233 LLEBG 99/00 601 Equipment Replacement Fund
234 LLEBG 01/02 610 Health Insurance Fund
240 Car Rental Tax 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
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 541 Golf Course CIP
330 Car Rental CIP 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
-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 512 Drainage Reserve
211 112 Cent Sales Tax-Bond Reserve 705 Star Center 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.
Loretta Getchell
Director of Fiscal and Administrative Services
Vicki Rodriquez
I. PORTFOLIO SUMMARY
The City's investment portfolio at the end of the fiscal year, September 30, 2002, is summarized by
instrument and by maturity as shown below.
Distribution by Instrument
% of Average Avg. Yield
Instrument Cost Portfolio Yield Prior Year
Agencies 28,873,901 57.98% 3.00% 4.68%
Money Market 20,917,557 42.01% 1.78% 3.42%
CD's 5,000 0.01% 2.00% 4.00%
49,796,457 100.00%
This table shows that the majority of City funds, approximately 58% are invested in government
agencies, and the remaining 42% in money market funds and local government investment pools. As of
the date of this report, the yield on the portfolio averaged 2.92%. When compared to prior year's levels,
the yield on our portfolio has trended down. The Federal Reserve continued to lower interest rates
during this fiscal year due to a very sluggish economy. Our portfolio has continued to decrease due to
declining interest rates.
Distribution by Maturity
#of days Cost % of Portfolio
1 - 30 $22,461,328
0
45.1 /o
31 - 90 1,039,699 2.1%
91 - 180 1,253,253 2.5%
181- 365 3,911,550 7.9%
Over 365 21,130,628 42.4%
$49,796,457 100.0%
This table reflects the degree of liquidity in the City's portfolio with the ability to access over 50% of the
portfolio within six months. This strategy was followed to meet cashflow requirements for construction
projects, payroll, debt service, and other operating expenses. An additional 8% matures within one year.
The remaining 42% is invested beyond one year. Additional funds were invested in callable agencies
beyond one year to take advantage of higher rates on the longer end of the yield curve. Most of these
investments have 3 to 6 months calls. In the current interest rate environment, these investments have
a high probability of being called. The longest investment in the current portfolio matures in 4 years.
We were able to comply with our investment policy by using emergency funds, escrow funds, bond
proceeds, and reserve funds for the General fund, Water and Sewer fund, and the Car Rental fund. The
weighted average maturity on our portfolio is currently 387 days.
1By Instrument By Days to Maturity
0%
■ 1 -30
42% .::::: :::::. ❑Agencies 42% : ;:::: 45% ❑ 31 -90
0 Money Market M 91 - 180
58% 0CD's 0181-365
E3 Over 365
8% 3% 2%
City of Euless
Pooled Portfolio Summary
for Quarter Ending
September 30, 2002
Cost Book Market
Principal Only Value Value
Investments at June 30, 2002 $51,145,783.71 $51,083,085.67 $51,217,158.17
Investment Purchases 26,728,913.54
Investment Maturities (28,272,816.95)
Dividends Reinvested (Pools) 105,094.87
Investments at September 30, 2002 $49,706,975.17 $49,630,030.96 $49,790,468.17
Loretta Getchell
Director of Fiscal and Administrative Services
Vicki Rodriquez
Finance Administrator
` Summary of Investments by Fund
The following is a summary of investments held by each fund at June 30,2002 and September 30,2002. The changes
include all investment purchases,maturities and expenses that occurred during the fourth quarter of FY2002.
Investment Securities Investment Securities Increase✓
at Market Value at Market Value Decrease
06/30/02 09/30/02 In Fund
101 9,163,962.22 6,548,733.09 (2,615,229.13) Oper.Expenses/EOYAdj.
102 500,312.50 501,718.75 1,406.25
103 500,312.50 501,484.38 1,171.88
201 170,122.69 175,877.60 5,754.91
210 1,007,410.91 1,040,034.17 32,623.26 Excess Fund Balance
211 994,197.03 950,218.00 (43,979.03) Transfer to Operating
220 505,853.22 608,480.47 102,627.25 Excess Fund Balance
230 130,055.06 200,984.15 70,929.09 Excess Fund Balance
231 10,696.33 10,740.28 43.95
232 509,343.73 30,217.24 (479,126.49) Disburse to members
233 9,176.46 0.00 (9,176.46) Close out grant
234 11,282.69 0.00 (11,282.69) Close out grant
235 0.00 20,543.23 20,543.23 New Grant funds
240 7,233,821.94 9,781,516.42 2,547,694.48 Car Rental receipts
301 1,512,951.70 1,650,108.22 137,156.52 Excess Fund Balance
305 8,044,539.16 8,232,084.16 187,545.00 Excess Fund Balance
310 375,013.85 346,070.51 (28,943.34) Capital Outlay-Parks
320 707,715.58 109,086.15 (598,629.43) Capital Outlay-Bldg D
325 376,275.75 226,822.09 (149,453.66) Capital Outlay-PD
330 94,311.85 84,762.79 (9,549.06) Capital Outlay-Parks Bldg
401 1,052,153.90 251,767.81 (800,386.09) Debt Service Paymerd
402 428,600.52 110,376.39 (318,224.13) Deck Service Payment
501 6,417,162.83 6,005,423.27 (411,739.56) Operating Expenses
502 2,791,583.05 3,396,833.09 605,250.04 Excess Fund Balance
505 788,481.06 1,641,779.95 853,298.89 Excess Fund Balance
507 503,281.25 501,093.75 (2,187.50)
508 774,932.76 833,587.19 58,654.43 Excess Fund Balance
510 738,173.89 611,936.21 (126,237.68) Operating Expenses
511 378,656.43 380,265.66 1,609.23
512 231,119.00 231,119.00 0.00 Transfer from Operating
520 220,677.58 156,437.19 (64,240.39)Operating Expenses
521 228,051.09 229;041.36 990.27
530 503,160.40 535,853.22 32,692.82 Excess Fund Balance
540 28,620.72 0.00 (28,620.72)
541 148,243.50 149,008.89 765.39
550 115,480.35 55,798.77 (59,681.58) Operating Expenses
552 101,741.01 142,353.46 40,612.45 Excess Fund Balance
601 996,768.30 873,081.76 (123,686.54) Capital Outlay
610 300,515.63 35,313.50 (265,202.13) Insurance Claims
615 478,539.88 485,938.99 7,399.11
705 2,133,859.87 2,143,976.97 10,117.10 Interest
TOTAL: 51,217,158.19 49,790,468.13 (1,426,690.06)
Fund Names
101 General Fund 402 Star Center Debt Service
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 Cert Sales Tax-Operations Fund 507 Water&Sewer-Emergency Fund
211 1/2 Cent Sales Tax-Debt reserve 508 Wastewater Impact Fees Fund
220 Crime Control&Prevention District 510 Drainage Utility
230 Police Drug-DEA Awards 511 Drainage-CIP
231 Police Drug-State Awards 512 Drainage Reserve
232 Ft.Worth DEA Task Force 520 Recreation Classes Fund
233 LLEBG 99/00 521 Arbor Daze Fund
234 LLEBG 01/02 530 Softball World Operations
240 Car Rental Tax Fund 540 Golf Course Operations
301 Developer's Escrow Fund 541 Golf Course CIP
305 Streets&Drainage-CIP 550 Parks @ Texas Star
310 1/2 Cent Sales Tax-CIP 552 Athletic Complex Phase 11-CIP
® 320 General Capital Projects Fund 601 Equipment Replacement Fund
325 Police Facility Construction Fund 610 Health Insurance Fund
330 Car Rertal CIP Fund 615 Risk Management Fund
401 Debt Service/General Obligation 705 Star Center Reserve Fund
PERFORMANCE
Cash and Investments Balances-Full utilization of funds and minimization of idle cash is necessary to
pursue additional interest • - revenues forthe City. The average percent of - -• funds is 101
for 1 The monthly data below showsthe continued utilization of •s through investments.
Consolidated Invested Percentage
Cash Balance Invested
• 11 111) $50,209,628 111',
• 11 (200,205) • 11'.
Dec-0052,473,102101%
Jan-01 •) 53,703,346 1
Feb-01 (1,230,701) 19 1 '
Mar-01 •4) 47,987,375 102%
Apr01 1,481,575 / •
May-01 (99 1,850) • 1: 1
Jun-0161,076,165 11
Jul-01 :• •1) 59,305,938 11
• 1 1: 1
Sep-01 •4 1
Average (487,073) 54,294,120 1
Consolidated • Percentage
InvestedCash Balance
• / 1 1
• 1 1• 574) 55,655,724 101%
Dec-01 268,472 56,867,592 100%
12 (6,358) 56,307,754 100%
Feb-02 .. •: 1
Mar-02 56,63347,444,50511'
Apr02 1,720,791 •
May-02 •16) 50,616,367 11
Jun-02 •• • 1
Jul-0213) 48,858,059 1
Aug-02 704,986 49,075,889 11' .
Sep-02 • ; .• 1
Average •) 52,097,249 101%
This graph shows how a greater portion of the City's funds continue to be invested, always in pursuit of
11'.
105.00%
����■�����������������
100.00% �■ ■ ■ ■ ■ ■ . _����_ . ■ ■ ■ ■ ■ ■ • ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . _�� ■ ■ ■ ■ ■ ■
�■i iiiiiiii■�iiiiiiiiiiiiii■�iiiiiii■�ii■i•i iiiiiii■�
11'. ■i iiiii■�iii■�iiiiiiiiiiiiiiii■�iiiiiiiiiiiiiiiii■�
90.00% ■ ■ ■ ■ ■ ■ ■ ■ • ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ • ■ ■ • ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ • ■ ■ ■ ■ ■ • ■ ■ ■ ■ ■ ■ ■ ■ �•
11'
i■i niiiii i i•�ii■+iiii i ii■n ii■■i i ii■r i i•+i i ii■ ■i ■i•n i i•■i i ii■•
1993 1994 1995 1996 1997 1998 1999
111 2001 2002
Fiscal Year
3
a
x
Cash management performance - effectiveness of the cash management program has been measured
utilizing actual figures for FY02 as shown below:
Average City's Number Estimated
90 day Invested Days in Interest
Month TBill Yield Balance Month Earnings
Oct-01 2.19% $54,530,153 31 $101,426
Nov-01 1.90% $55,655,724 30 $86,914
Dec-01 1.71% $56,867,592 31 $82,590
Jan-02 1.66% $56,307,754 31 $79,386
Feb-02 1.74% $56,621,798 28 $75,578
Mar-02 1.81% $47,444,505 31 $72,935
Apr-02 1.69% $48,164,513 30 $66,902
May-02 1.73% $50,616,367 31 $74,371
Jun-02 1.71% $51,228,172 30 $72,000
Jul-02 1.70% $48,858,059 31 $70,543
Aug-02 1.63% $49,075,889 31 $67,940
Sep-02 1.65% $49,796,457 30 $67,532
Average 1.76% 52,097,249 $76,510
Estimated earnings at benchmark yields: $918,119
Actual FY02 interest income (pre-audit): $1,373,117
Eamings over benchmark: $454,998
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-01 2.19% 4.17% 1.98%
Nov-01 1.90% 4.03% 2.13%
Dec-01 1.71% 3.83% 2.12%
Jan-02 1.66% 3.66% 2.00%
Feb-02 1.74% 3.43% 1.69%
Mar-02 1.81% 3.27% 1.46%
Apr-02 1.69% 3.26% 1.57%
May-02 1.73% 3.21% 1.48%
Jun-02 1.71% 3.13% 1.42%
Jul-02 1.70% 3.08% 1.38%
Aug-02 1.63% 3.07% 1.44%
Sep-02 1.65% 2.92% 1.27%
Average 1.76% 3.42% 1.66%
The economy continued to grow at a very sluggish pace during the fiscal year. The Fed cut interest
rates by 25 basis points during this fiscal year, after cutting rates by 400 basis points during fiscal year
2001. The Fed made these moves in an attempt to stimulate the economy. The average 90 day T-Bill
fell 257 basis points during this fiscal year. The city's average yield has fallen 228 basis points since
September of last year. The average yield on the City's portfolio continues to decline.
III. INTEREST INCOME SUMMARY
FY98 Audit $1,510,862
FY99 Audit $1,451,772
FY00 Audit $2,447,214
FY01 Audit $2,891,077
FY02 Audit $1,373,117
FY02 Budgeted $1,822,036
Interest Income Summary
$3,500,000
$3,000,000
w $2,500,000
c -
$2,000,000
$1,500,000
m $1,000,000
r,
$
500 000
t
$0 r�
FY98 Audit FY99 Audit FY00 Audit FY01 Aud'R FY02 Audit FY02 Budgeted
Interest income did not meet the budgeted level for fiscal year 2002. When compared to prior year,
interest earnings have decreased. This decrease can be attributed to lower interest rates throughout the
fiscal year due to the sluggish economic conditions after the terrorists attacks on September 11, 2001.
Market Rate Outlook- As expected, the Federal Open Market Committee cut the Fed Funds rate by 50
basis points at their November meeting. This brought the Fed Funds rate to 1.25%. The average yield
of the City's portfolio has dropped an additional 228 basis points since September 2001. The average
yield continues to drop as higher yielding securities mature, and are reinvested at lower rates.
Despite the current recessionary conditions, the economy appears poised to recover in 2003.
Economists expect more fiscal stimulus, faster growth, and higher interest rates during 2003. However,
the potential war with Iraq will have a tremendous affect on the Fed's decisions about when to raise
rates. This potential threat of war has caused investors to flock towards treasuries, due to their safety,
which has pushed interest rates down.
*Source:
GFOA"Public Investor," January 3, 2003
Interest Income By Fund
• For Fiscal Year Ending September 2002
# Fund FY 01 FY 01 FY 02 FY 02 Actual Diff FY02
Budget Audited Budget Pre-Audit Bud.-Act.
101 General $350,000 $427,556 $280,000 $274,681 $5,319
201 Hotel/Motel 8,000 10,033 8,000 4,305 $3,695
210 Half Cent Sales Tax-Operations 60,000 33,072 50,000 20,267 $29,733
211 Half Cent Sales Tax-Reserve 0 50,044 0 19,948 $19,948
220 Crime Control Prevention District 15,000 17,501 15,000 11,213 $3,787
230 Euless DEA Fund 30,000 291340 5,000 3,004 $1,996
231 Police State Awards 0 617 0 215 $215
232 FW DEA Task Force-(Euless Portion 0 222 0 207 $207
233 LLEBG 99/00 2,147 2,768 0 308 $308
234 LLEBG 01 0 0 0 329 $329
240 Car Rental 225,000 393,002 250,000 247,750 $2,250
301 Developer's Escrow 50,000 65,080 50,000 42,509 $7,491
305 Streets CIP 299,921 352,250 346,862 222,650 $124,212
310 Half Cent Sales Tax -CIP 51,698 34,637 3,798 15,799 $12,001
320 G.O. CIP 0 3,159 0 11,833 $11,833
325 Police Facility CIP* 199,895 329,296 111,538 17,863 $129,401
330 Car Rental CIP* 0 21,159 73 13,27 $13,350
401 GO Debt Service 15,000 31,917 15,000 17,631 $2,631
402 Star Centre Debt 20,000 17 572 10,000 5,941 $4,059
501 Water and Sewer 300,000 442,992 300,000 230,706 $69,294
502 Water and Sewer CIP 25,000 163,849 129,196 65,611 $63,585
503 Water and Sewer Reserve 20,000 14,499 20,000 3,794 $16,206
505 Water Impact Fees 35,000 68,766 60,000 38,569 $21,431
508 Wastewater Impact Fees 35,000 55,917 52,000 14,206 $37,794
510 Drainage 10,000 41,066 20,000 22,379 $2,379
511 Drainage Capital Projects 6,000 17,322 6,000 7,250 $1,250
520 Recreation Classes 0 6,356 2,500 3,365 $865
521 Arbor Daze 1,000 9,398 1,000 4,501 $3,501
530 Softball World 5,000 21,224 5,000 10,500 $5,500
540 Golf Course 4,000 13,152 7,215 2,868 $4,347
541 Golf Course CIP 0 15,844 24,008 8,165 $15,843
550 Parks At Texas Star 0 660 0 1,139 $1,139
552 Athletic Complex Phase II -CIP 3,331 3,332 1,846 1,845 $1
601 Equip ment Replacement 8,000 31,640 8,000 22,870 $14,870
610 Health Insurance 5,000 23,998 15,000 13,244 $1,756
615 Risk MGMT/Worker's Comp 25,000 36,601 25,000 10,982 $14,018
705 Star Centre Debt Reserve 0 105,236 0 43,673 $43,673
Total $1,808,992 $2,891,077 t $1,822,036 $1,373,117 $448,919
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 did not meet
budgeted expectations.
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.
C)*After projects were completed, excess interest earnings were transferred to other projects.
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.
':
`
Pledging Safekeeping Pledged Sec. Security Market Value Inv.Value Difference
Institution Location Description Par Value (w/FDIC Ins.) Mat'v(P Lu Over/ Under
Bank One FDIC FDIC $0 $100,000 $25,985 $74,015
$ Mkt $0
DDA $25,313
Southtrust Bank Federal Reserve $1,500,000 $1,586,719 $138,381 $1,448,338
Bank-Atlanta FHLMC Payroll $30,135
10/01/04 $1,000,000 Operating $108,246
FHLMC
03/15/11 $500,000
Produced By:
Finance Administrator
Reviewed by:
Director of Fiscal and
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.
V. BROKER SELECTION PROCESS
l ,
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 periodically, and additions/deletions are
made as necessary. 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 2002, not only did we keep the City's funds fully invested, we also completed the
following:
-Extended the bank depository agreement with Southtrust Bank
-Reviewed the investment policy to comply with the Public Funds Investment Act. No changes are
recommended at this time.
The investment committee met on January 28, 2003 and reviewed the presented data for transmittal to
the City Council.
Vicki Rodriquez Loretta Getchell
Finance Administrator Director of Fiscal And Administrative Services
APPENDIX
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Asa June 3.W2
investment Type Institution
LOGIC Local G&A Pod FNMA Fed.Nati Mort Assoc. FMAC Fed,Home Loan Mort Corp IST Union First Linton SeaelOea FSW First Souriweat LOGIC Local Gov't#xpstment Coop.
FGIC Money Market Pod FFCB Fed.Farm Cradlt Banc CD Certificates of Deposit Wing Vining Sparics Merril Menu Lynch FGIC Financial Investors Trust
Texpod Local Galt Pod FHLB Fed.Home Loan Banc BaneOns Sam One Capitol Everen Everen Securities Texpod TEXPOOL
Duncan Duncan W clams LNOMRK Lan6nark Banc
Cost Accrued
Inv. Cusps purctmse Term Maturity Call Price Par Book Value Interest Total Prin.+ YWd To Coupon interest Sew Market %a
I7rplt Number (2414 (in days 8414 24I4 Pax$100 YAW (PrIn.417bt1 IQ me Int.&Me M4 &J2 Purchased m Disc 4Sdd PromlE" yakm Portfolio. Wm
Fund 101-General Fund
FGIC WA 100.0000 0.00 0.00 0.00 1.70% FGIC 101 0.00 0.00% 0.00
Texpod WA 107.0000 962.50 962.50 962.50 1.70% Texpod 101 962.50 0.00% 0.00
FMAC 312923CU7 01118)01 540 07/18)02 04MOMI 100.0000 407,000.00 400,000.00 31,920.00 431,920,00 5.32% 5.320% 1ST Union 101 400,687.50 0.78% 4.22
FMAC 313397891 0222)02 174 08/15/02 99.1300 1,000,000.00 991,307.00 8,700.07 1,000,000.00 1.84% Banc One 101 997,802.22 1.94% 3.37
FHLB 3133MMLSS 04)03)02 540 10MM 07/03102 100,0000 500,000.00 500,000.00 25,425.07 525,425.00 3.39% 3.390% Duncan 101 500,000.00 0.98% 5.27
FHLB 3133MZUA3 05H3102 227 12/JOA2 102.5861 500,000.00 512,930.68 31,050.07 531,050.07 2.06% 6.210% 11,471.25 Banc One 12,930.68 101 510,781.25 1.02% 2.32
FMAC 312924W33 02125)02 349 02114/03 05/14102 99.9844 0.00 0.00 0.00 0.07 2.27% 2.250% 687.50 FSW 156.25 101 0.00 0.00% 0.00
FHLB 3133MLS97 02126102 360 0228/03 100.0100 50.000.00 500,000.00 11,250.07 511,250.00 2.25% 2.250% Banc One 101 501,093.75 0.98% 3.51
FHLB 3133MMGB3 03114)02 364 04)08)03 100.0000 1,000,000.00 1,007,007.00 27,733.33 1,027,733.33 2.60% 2.600% Banc One 101 1,004,687.50 1.95% 7.50
FHLB 313MNPL9 08)03)02 390 07)03/03 07/03/02 100.0000 80.000.00 80.000.00 21,000.00 821,000.00 2.63% 2.625% Sam One tot 800,000.07 1.56% 6.09
FHLB 313MKSP3 01/08)02 540 07AMM 07/04102 100.0000 1,000,000,00 1,000,000.00 45,450.00 1,045,450.00 3.03% 3.030% Vining 101 1,000,312.50 1.95% 10.54
FMAC 312924AN3 02AW2 543 0822)03 0822102 101.0561 500,000.00 505,280.68 42,070.00 542,000.00 2.10% 4200% 10,325.00 FSW 5,280.68 tot 601,716.25 1.01% 5.47
FNMA 3130FOXHO 04)08)02 494 0822)03 09122102 100,6970 500,000.00 503,485.00 31,125.00 531,125,00 2.25% 4.150% 2,651.39 Banc One 3,485.00 101 501,562.50 0.99% 4.88
FNMA 3136FOU75 01A7A2 646 1023)03 1023102 99.6875 500,000.00 498,437.50 30,700.00 530,700.00 3.25% 3.070% 3,155.28 Dune 1,562.50 101 501,875.00 0.98% 6.33
FHLB 3133MNF30 05M V02 540 11/14)03 06/14102 100,0000 500,000.00 500,000.00 24,750.00 524,750.00 3.30% 3.300% Duncan 101 50.937.50 0.98% 5.27
FMAC 3129247X1 12/14)04 876 0520)04 06120101 99.3125 750,000.00 744,843.75 60,937.50 810,937.50 3.56% 3.250% 1,625.00 Menti! 5,156.25 101 750,703.13 1.46% 12.76
FMAC 312924UEI 02)08)02 1000 112304 0623102 98.8438 500,000.00 494,218.75 51,750.00 551,750.00 3.89% 3.450% 3,593.75 Merril 5,781.25 101 500,781.25 0.97% 9.77
FMAC 312924VKS 01AW2 1034 1129104 11112M 99.3750 190,000.00 188,812.50 20,235.00 21.235.00 3.78% 3.550% 861.86 FSW 1,187.50 101 190,059.38 0.37% 3.83
Subtotal 9,140,962.50 9,140,271.35 464,025.83 9,596,288.33 34,371.03 13,843.75 21,696.36 subtotal 9,163,962.22 17.91% 91.12
Fund 10211eneml Fund-Emergency
FMAC 312924W33 0225)02 349 02114)03 05/14102 99.9844 500,070.00 499,921.88 11,250.00 511,250.00 2.27% 2.250% FSW 102 500,312.50 0.98% 3.41
Fund 1034onerai Fund Contingency
FMAC 312924W33 021YSA2 349 02/14103 05/14/02 99.9844 500,000.00 499,921.68 11,250.00 511,250.00 2.27% 2.250% FSW 103 500,312.50 0.98% 3.41
Fund 20MotelfMotel
FGIC N/A 100.0000 158,606.89 158,606.89 158,806.89 1.70% FGIC 201 158,606.89 0.31% 0,00
Texpod WA 100.0000 11,515.80 11,515.80 11,515.80 1.70% Texpod 201 11,515.80 0.02% 0.00
stbtotll 170,122.69 170,122.69 0.00 170,122.69 subtotal 170,122.69 0.33% 0.00
Fund 210-HaH Cent Operations
Texpool NIA 107.0000 731,344.83 731,344.83 0.00 731,344.83 1.70% Texpod 210 731,344.83 1.43% 0.00
FGIC WA 100.0000 276,066.09 276,066.09 0.00 276,066.09 1.70% FGIC 210 276,066.09 0.54% 0.00
Subtotal 1,007,410.91 1,007,410.91 0.00 1,007,410.91 0.00 0.00 0.00 subtotal 1,007,410.91 1.97% 0.00
Fund 211-Haff Cant Reserve
FGIC WA 100.0000 994,197,03 994,197.03 0.00 994,197.03 1.70% FGIC 211 994,197.03 1.94% 0.00
Fund 220-Crime Control and Prevention
FGtC WA 100.0000 0.00 0.00 0.00 0.00 1.70% FGIC 220 0.00 0.00% 0.00
Texpod WA 100.0000 505,853.22 505,853.22 0.00 505,853.22 1.70% Texpod 220 505,853.22 0.99% 0.00
Subtotal 505,853,22 505,853.22 0.00 505,853.22 0.00 0.00 0.00 subtotal 505,853.22 0.99% 0.00
Fund 230-Palter DEA(Federal)
FGIC WA 100.0000 130,055.06 130,055.06 130,055.06 1.70% FGIC 230 130,055.06 0.25% 0.00
Subtotal 130,055.06 130,055.06 0.00 130,055.06 0.00 0.00 0.00 subtotal 130,055.06 0.25% 0.00
Fund 231-Police DEA(31ate)
FGIC WA 100.0000 10,696.33 10,696.33 10,696.33 1.70% FGIC 231 10,696.33 0.02% 0.00
Subtotal 10,696.33 10,696.33 0.00 10,696.33 0.00 0.00 0.00 subtotal 10,696.33 0.02% 0.00
Fund 232-F7W DEA Task Force
Tool WA 100.0000 509,343.73 509,343.73 0.00 509,343.73 1.70% Texpooi 232 509,343.73 0.94% 0.00
FGIC N/A 100.0000 0.00 0.00 0.00 1.70% FGIC 232 0.00 0.00% 0.00
Bibb" 509,343.73 509,343.73 0.00 509,343.73 0.00 0.00 0.00 subtotal 509,343.73 0.99% 0.00
Fund 233-LLEBG 99
FGIC WA 100.0000 9,176.46 9,176.46 9,176.46 1.70% FGIC 233 9,176.46 0.02% 0.00
Suter 9,176.46 9,176.46 0.00 9,176,46 0.00 0.00 0.00 subtotal 9,176.46 0.02% 0.00
Fund 234 LLE13O 02
FGIC WA 100.0000 11,282.69 11,282.69 11,282.69 1.70% FGIC 234 11,282.69 0.02% 0.00
Cay arE
Ilvesanent
As of June 30,
Investment Type Institution
LOGIC Local GwA Pad FNMA. Fed.Nett Mort Assoc. FMAC Fed.Horns Loan Mort Corp IST Union first Union Secuftes FSW First SouOrtvest LOGIC Local Gov't kmesanent Coop.
FGIC Money Market Pod FFCB Fed.Farm Credit Bank CO Cerillcates of Deposit Vining Vining Sparks Menil Merril Lynch FGIC Financial Investors Trust
Tagoot Local Gantt Pod FHLB Fed.Home Loan Berk BancOne Banc One Capri Everen Everen Securities TexpW TEXPOOL
Duncan Duncan Williams LNDMRK Landmark Bank ,
Cost Accrued
. Cuotp prsdwse Term Makatty, Call Price Per Boor Value Interest Total Prin.+ YWd To Coupon Intelsat saw Disc
%
Of
Inv
Ills L{tt�sC go (in doXSI I29S4 Rlt4 Per 5100 YAW LPt10.4d�r1 a me CY Int.911 Me Mtil4adSY B tt4 Pur dys44 !WELL Qf F99Shct Premium Evg9 Y� Port(glo l�
Fund 2404ar Rental Fund
654,171.15 1.70% FGIC 240 154,171.25 0.30% 0.00
FGIC WA 100.0000 154,171.15 154,1171.15
Tekpool WA 100.0000 694,074.22 694,074.22 694,074.22 1.70% Te)pool 240 894,074.22 1.35% 0.00
FHLB 3133IRSLO 08107(01 591 03128(03 nit 102.6000 300,000.00 307,800.00 34,284.50 334,284.50 4.07% 5.730% 6,064.25 Merril 7,800.00 240 308,250.00 0.61% 3.62
FNMA 31359MKT9 04112/02 483 0815(03 101.2813 890,000.00 901,403.13 53,400.00 943,400.00 3.02% 4.000% 5,636.67 Merril 11,403.13 240 906,826.56 1.77% 8.55
FHLB 9133MHWT7 10/17/01 720 10/17103 01/17102 100.0000 1,000,000.00 1,000,000.00 68,800.00 1,068,800.00 3.44% 3.440% 1st Union 240 1,000,312.50 1.95% 14.05
FHLB 313MNP28 4805(02 540 1210503 08/06102 100.0000 500,000.00 500,000.00 23,250.00 523,250.00 3.10% 3.100% FSW 240 501,062.50 0.98% 5.27
FHLB 3133MNYZ8 0619102 540 1211903 09/19102 100.0000 500,000.00 5W,000.00 23,325.00 523,325.00 3.11% 3.110% Duncan 240 502,500.00 0.98% 5.27
FFCB 3133ILV96 Ot9UM 540 12(1603 1226/02 100.0000 500,000.00 5W,0W 00 22,575(00 522,575.00 3.01% 3.010% Doreen 240 502,578.00 0.98% 5.27
FHLB 3133MJMV9 11/140 00 1 9 05/1404 0511402 100.0000 5W,OW.W 500,000.00 42,750.00 542,750.00 3.4296 3.420'6 1st Union 240 502,578.13 0.98% 8.78
FMAC 3129247X1 1212801 862 05)20104 0620!0298.7813 500,000.00 493,906.25 40,625.00 5+0,825.00 3.79% 3.250% 1,715.28 Merril 6,093.75 240 501,468.75 0.97% 8.34
FMAC 312925S87 06/1802 720 06418/04 12MGM2 100.0000 500,000.00 500,000.00 26,000.00 526,000.00 2.80% 2.600% 1st Union 240 501,953.13 0.98% 7.03
FNMA 3136FOUC4 10/01/01 1019 07130/0407130102 101.5938 550,000.00 507,968.75 71,613.06 571,613.06 3.10% 5.OW% 4,286.94 Ming 7,968.75 240 501,250.50 1.00 10.19
FNMA 3136FOBN 05)28K/2 846 1004/04 1004102 101.0710 200,000.00 202,142.00 25,750.00 225,750.00 2.05% 5.150% 1,545.00 Banc One 2,142.00 240 201,687.50 0,40%% 3.36
FNMA 3136RAS 052202 900 11!2204 03=1113 IOU= 450,000.00 450,000.00 44,437.50 494,437.50 3.95% 3.950% Merril 240 456,187.50 0.88% 7.91
Subtotal 7,188,245.37 7,211,465.50 476,810.06 7,665,055.43 19,248.14 6,093.75 29,313.88 subtotal 7,233,821.94 14.11% 87.65
Fund 3014Doevelopees Escrow
FGIC WA /00.0000 58,860.17 58,860.17 58,860.17 1.70% FGIC 301 58,860.17 0.11% 0.00
Teigoo WA 100.0000 347,785.74 347,788.74 347,785.74 0.00% Texpool 301 347,785.74 0.68% 0.00
FHLB 3133M5YKO 06/1101 484 1011502 NIC 100.6590 500,000.00 503,295.00 35,062.50 535,062.50 4.16% 4.675% 3,636.11 BancOne 3,295.00 301 504,062.50 0.99% 4.79
FNMA 31364AXY3 0611401 627 031103 WC 102.6702 97,000.00 99,590.13 12,787.83 109,787.63 4.39% 6.000% 2,651.33 FSW 2,590.13 301 99,743.28 0.20% 1.25
FHLB 1133MNWB3 06/1202 450 09/1203 12/1202 100.0000 500,000.00 500,000.00 18,750.00 518,750.00 3.00% 3.000% Duncan 301 502,500.00 0.98% 4.39
Subtotal 1,503,645.92 1,509,531.04 66,8W.33 1,570,246.25 6,287.44 0.00 5,885.13 subtotal 1,522,951.70 2.96% 10.43
Fund 305-9treats CIP
FGIC WA 100.00W 7,071,267.12 7,071,267.12 0.00 7,071,267.12 1.70% FGIC 305 7,071,267.12 13.80% 0.00
7elq�oot WA 100.0000 973,272.04 973,272.04 0.00 973,272.04 1.83% TEXPOOL 305 973,272.04 1.90% 0.00
Subtotal 8,044,539.16 8,044,539.16 0.00 8,044,539.16 0.00 0.00 0.00 subtotal 8,044,539.16 15.70% 0.00
Fund 31044aH Cant CIP
FGIC WA 100.0000 74,498.23 74,498.23 0.00 74,498.23 1.70% FGIC 310 74,498.23 0.15% 0.78
FMAC 3129=7 01/1801 540 07/1802 0411901 100.0000 300,000.00 300,000.00 23,940.00 323,940.00 5.32% 5.320% 1ST Union 310 300,515.63 0.59% 3.16
Subtotal 374,498.23 374,498.23 23,940.00 398,43823 0.00 0.00 0.78 subtotal 375,023.65 0.73°6 3.18
Fund 320-G.O.CIP-Pare Station
Texpool WA 100.0000 707,715.58 707,715.58 707,715.58 1.83% Texpool 320 707,715.58 1,38% 0.00
Subtotal 707,715.58 707,715.58 707,715.58 0.00 0.00 0.00 subtotal 707,715.58 1.38% 0.00
Fund 325-Police Facility CIP
FGIC WA 100.0000 376,275.75 376,275.75 0.00 376,275.75 1.70% FGIC 325 376,275.75 0.73% 0.00
TWVW WA 100.0000 0.00 0.00 0.00 1.83% Te>Vooi 325 0.00 0.00% 0.00
Sum 376,275.75 376,275.75 0.00 376,275.75 0.00 0.00 0.00 subtotal 376,275.75 0.73% 0.00
Fund 3304or Rental CIP
16,901.31 1.70% FGIC 330 16,901.31 0.03% 0.00
FGIC WA 100.0000 16,901.31 16,901.31
Tevoo WA 100.0000 77,420.54 77,410.54 77,410.54 1.83% Texpool 330 77,410.54 0.15% 0.00
Subtotal 94,311.85 94,311.85 0.00 94,311.85 0.00 0.00 0.00 subtotal 94,311.85 0.18% 0.00
Fund 401Zebt Service
Tevooi WA 100.0000 501,322.76 501,322.76 501,322.76 1.83% Ta goof 401 501,322.76 0.98% 0.
FGIC WA 100.0000 250,737.38 250,737.38 250,737.38 1.70% FGIC 401 250,737.38 0.49% 0.00
FHLB 3133MKYD3 01)24(02 378 01)24)03 0424102 100.0000 300,000.00 300,000.00 7,350.00 307,350.00 2.45% 2.450% 1st Union 401 350,093.75 0.59% 2.11
Subtotal 1,052,060.15 1,052,060.15 7,350.00 1,059,410.15 0.00 0.00 0.00 subtotal 1,052,153.90 2.05% 2.11
Fund 402-Star Center Debt Service 402 428,600.52 0.84% 0.00
Tavooi WA 100.0000 428,800.52 426,800.52 428,800.52 1.83% Te>pooi
Subtotal 428,600.52 428,600.52 0.00 428,600.52 0.00 0.00 0.00 subtotal 428,600.52 0.84% 0.78
46 C s
3chedu ufllleg
For August 2002
Investment Tyre Institution
LOGIC Local Govt Pool FNMA Fed.NaCl Mort Assoc. FHLB Fed.Home Loan Bank FGIC Finanacial Investors Trst FSW First Southwest LNDMRK Landmark Bank
FGIC Money Market Pool FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan MorL Corp. Vining Vining Sparks Merrill 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 Chase Chase Securities
Term to Cost Accrued Total P+I `
Inv. Cusip Purchase MCCy/Call Maturity Call Price Par Book Value Interest Total Prin.+ yield To Coupon Interest Seller Macy or call Net of Total Cost
I)= Numhe[ Date (in days) Date Dats Perst00 Value (Pdn Qngra mafyLcal Int 111iY maturity Rate PLrchaSed
_ fit, ptgcuuI)l Premium Eill1d Prem 8 Int Pyr" of Ipye5(mep(
Texpool 08101102 100.0000 150,000.00 150,000.00 0.00 150,000.00 1.91% Texpool various 150,000.00 150,000.00
Texpool 08/13/02 100.0000 750,720.02 750,720.02 0.00 750,720.02 1.83% Texpool various 750,720.02 750,720.02
FMAC 312924W33 02/25/02 349 02/14/03 08/14/02 99.9844 1,000,000.00 999,843.75 22,500.00 1,022,500.00 2.27% 2.250% 687.50 FSW 156.25 102,103 1,021,812.50 1,000,531.25
FMAC 312924UE1 02/08/02 1005 11/23/04 08/14102 98.8438 500,000.00 494,218.75 51,750.00 551,750.00 3.89% 3.450% 3,593.75 Merrill 5,781.25 101 548,156.25 497,812.50
FHLB 3133MNF30 05/14102 540 11/14/03 08/14102 100.0000 500,000.00 500,000.00 24,750.00 524,750.00 3.30% 3.300% Duncan 101 524,750.00 500,000.00
FMAC 313397891 02122/02 174 08/15/02 n/c 99.1300 1,000,000.00 991,300.00 8,700.00 1,000,000.00 1.84% Banc One 101 1,000,000.00 991,300.00
FHLB 3133MPGL4 07/15/02 390 08/15/03 06/15/02 100.0000 500,000.00 500,000.00 13,758.33 513,758.33 2.54% 2.540% Banc One 101 513,758.33 500,000.00
Texpool 08/19/02 100.0000 500,000.00 500,000.00 0.00 500,000.00 1.88% Texpool various 500,000.00 500,000.00
Texpool 08/20/02 100.0000 1,100,000.00 1,100,000.00 0.00 1,100,000.00 1.86% Texpool various 1,100,000.00 1,100,000.00
FGIC 08/21/02 100.0000 170,000.00 170,000.00 0.00 170,000.00 1.66% FGIC various 170,000.00 170,000.00
FMAC 312924AN3 02/19/02 543 08/22/03 08/22102 101.0561 500,000.00 505,280.68 42,000.00 042,000.00 2.10% 4.200% 10,325.00 FSW 5,280.68 101 526.394.32 515,605.68
FNMA 3136FOXHO 04/08/02 494 08/22/03 08122/02 100.6970 500,000.00 503,485.00 31,125.00 531,125.00 225% 4.150% 2,651.39 Banc One 3,485.00 101 524,988.61 506,136.39
TWWM 08127/02 100.0000 1,300,000.00 1,300,000.00 0.00 1,300,000.00 1.89% Texpool various 1,300,000.00 1,300,000.00
Texpool 08/28/02 100.0000 1,600,000.00 1,600,000.00 0.00 1,600,000.00 1.90% Texpool various 1,600,000.00 1,600,000.00
TOTAL 10,070,720.02 10,064,848.20 194,583.33 10,256,603.35 2.22% 17,257.64 5,937.50 8,765.68 10,230,580.03 10,082,105.84
„;' axitea r
For September 2002
Investment Type Institution -
LOGIC Local Gov't Pod FNMA Fed.Nail Mort.Assoc. FHLB Fed.Horne Loan Bank FGIC Flnanadel Investors Trst FSW First Southwest LNDMRK Landmark Bank
FGIC Money Mum Pod FFCB Fed.Fenn Credt Bank FMAC Fed.Home Loan Mort.Corp. Wing ViNng Sparks Merril Merril Lynch
Cooperative
SLMA Student Loan Mort.Assoc. TNOTE Treasury Note CD Certificate of Deposit BANCONE Banc One Capital Everen Everen Securities Chase Chase Securities
Tenn to Cost Accrued Total P+I `
Inv. CUWP Purchase Matyral Meturily Cal Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seiler Mary or cal Net of Total Cost
I= IN 90 On days! Q& gift Pers 100 Y4hia (Prin.Only) m merirCail Int.m Mari Mgt EAk Purchased M Discg r�i Premium fmad Prem 6 IM Pur. of Irnrestment
Te)pool 09103/02 100.0000 600,000.00 600,000.00 0.00 600,000.00 1.96% Te)q)ool Various 600,000.00 600,000.00
FHLB 313MNPZ8 06/0502 540 12/05103 09/05/02 100.0000 500,000.00 500,000.00 3,875.00 503,875.00 3.10% 3.100% FSW 240 503,875.00 500,000.00
Tetpod 09/09/02 100.0000 500,000.00 500,000.00 0.00 500,000.00 1.87% Textoo( various 500,000.00 500,000.00
Topool 09/10/02 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 1.87% Texpool various 1,000,000.00 1,000,000.00
FHLB 3133MJYL8 12/12/01 720 12/12103 09/12(02 100.0000 500,000.00 500,000.00 11,250.00 511,250.00 3.00% 3.000% Wing 505 511,250.00 500,000.00
To” 09/18/02 100.0000 500,000.00 500,000.00 0.00 500,000.00 1.84% Te)pool various 500,000.00 500,000.00
FHLB 3133MNYZ8 06/19/02 540 12/19/03 09/19/02 100.0000 500,000.00 500,000.00 3,887.50 503,887.50 3.11% 3.110% Duncan 240 503,887.50 500,000.00
FHLB 3133MOEF7 0822/02 90O 0223105 09/23/02 100.0000 500,000.00 500,000.00 1,399.31 501,399.31 3.25% 3.250% Wachovia 103 501,399.31 500,000.00
Te)pool 09/JO/02 100.0000 625,000.00 625,000.00 0.00 625,000.00 1.98% Te)Wd various 625,000.00 625,000.00
FGIC 09130/02 100.0000 75,000.00 75,000.00 0.00 75,000.00 1.65% FGIC various 75,000.00 75,000.00
TOTAL 5,300,000.00 5,300,000.00 20,411.81 5,320,411.81 2.36% 0.00 0.00 0.00 5,320,411.81 5,300,000.00
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End of Month Reports
Fiscal Year 2001 -02
0
Cash& Debt Department Prepared by:
October 31, 20,01 Vicki Rodriquez
October
2000 2001
rcent of funds invested 100% 101%
Consolidated Cash, Operating Account ($21,001) ($412,817)
57%of City funds are available for use within 30 days, of which 53% is accessible on a daily basis.
Investment maturities for October were$9,085,891(cost). These investments yielded an average of 3.77%.
Investment purchases and dividends reinvested for October were$7,170,480(cost). These investments yielded an average of 3.04%.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
09/30/01 % 10/31/01 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 22,313,055 39.53% 25,441,433 46.66%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 276 0.00% 57 0.00%
TEXPOOL 16,894,764 29.93% 14,130,402 25.91%
FGIC: 17.232,469 30.53% 14.953,260 27.42%
Total $56445,564 100% $54,530,153 100%
The City's average yield on investments was 4.17%and the average 90 day T-Bill yield was 2.19 which is a 198 basis point spread over the
benchmark. The Fed has cut interest rates by 400 basis points since the beginning of the year. The average yield on our portfolio has also
dropped, but not as quickly as the 90 day T-Bill. Total interest for October was$70,997.
Market Activity"
AQhe current economic outlook remains uncertain. Consumer confidence has fallen for the fifth consecutive month. It is currently at the
110mest it has been in 7 1/2 years. Other economic data is showing mix signs. Auto sales are up, due to no interest financing and new home
sales remain strong due to lower interest rates. However,the housing market usually dampens with rising unemployment, so the short-
term outlook for the housing sector is not as bright as it may appear.
The FOMC meets in three weeks to vote on additional changes in monetary policy. At this point,the likelihood of another 25 basis point cut
is about 50/50,while the possibility of a half point cut has virtually faded away. As dramatic as the market has been recently,there is no
telling what will happen between now and the meeting on December 11th.
Key Rates 26-Oct Year Ago
Fed Funds Rate 2.63% 6.63%
Certificates of Deposit: 3 month 2.16% 6.65%
6 month 2.13% 6.63%
Treasury Bill: 91 day 2.17% 6.16%
52 Week 2.26% 5.88%
Interest Rate Outlook December-01 February-02 May-02
Fed Funds 2.30% 2.30% 2.40%
30 day prime bank CD 2.30% 2.30% 2.40%
3 Month T-Bill Yield 2.10% 2.10% 2.30%
`Source:
GFOA, "Public Investor," November 2,2001
Evare Market Data
First Southwest Market Update, November 26,2001
17
Cash&Debt Department Prepared by:
November 30, 2001 Vicki Rodriquez
November
2000 2001
9rcent of funds invested 101% 101%
onsolidated Cash, Operating Account ($200,205) ($406,574)
61%of City funds are available for use within 30 days, of which 59% is accessible on a daily basis.
Investment maturities for November were$4,375,492(cost). These investments yielded an average of 4.59%.
Investment purchases and dividends reinvested for November were$5,501,064(cost). These investments yielded an average of 2.81%.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
10/31/01 % 11/30/01 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 25,441,433 46.66% 22,668,143 40.73%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 57 0.00% 57 0.00%
TEXPOOL 14,130,402 25.91% 14,742,749 26.49%
FGIC: 14,953,260 27.42% 18,239,776 32.77%
Total $54,530,153 100% $L5,655,724 100%
The City's average yield on investments was 4.03%and the average 90 day T-Bill yield was 1.90 which is a 213 basis point spread over the
benchmark. The Fed has cut interest rates by 425 basis points since the beginning of the year. The average yield on our portfolio has also
dropped, but not as quickly as the 90 day T-Bill. Total interest for November was$103,620.
Market Activity"
he current economic outlook looks hopeful. Currently, there are signs of an economic rebound. Growth is rising and consumer confidence
howing signs of hope. With this said, expectations of another Fed cut are diminishing. Economic reports this month may indicate that
'qTe biggest part of the economy is emerging from recession. A rebound in stocks, a decline in unemployment claims, and progress in
Afghanistan are contributing to an increase in consumer confidence.
The FOMC meets in January to vote on additional changes in monetary policy. Interest rate futures are not convinced the Fed will cut
interest rates next month, pricing in about a one-in-four chance of a 1/4 point reduction on January 30th. The current Fed funds rate is at
1.75%, the lowest in 40 years.
Key Rates 30-Nov Year Ago
Fed Funds Rate 2.00% 6.50%
Certificates of Deposit: 3 month 1.91% 6.60%
6 month 1.91% 6.51%
Treasury Bill: 91 day 1.92% 6.16%
52 Week 2.06% 5.88%
Interest Rate Outlook January-02 March-02 June-02
Fed Funds 1.80% 1.90% 2.10%
30 day prime bank CD 1.80% 1.90% 2.10%
3 Month T-Bill Yield 1.80% 1.90% 2.10%
"Source:
GFOA, "Public Investor," December 7,2001
Evare Market Data
First Southwest Market Update, December 24, 2001
17
Cash&Debt Department Prepared by:
December 31, 2001 Vicki Rodriquez
December
2000 2001
rcent of funds invested 101% 100%
9onsolidated Cash, Operating Account ($355,333) $268,472
58%of City funds are available for use within 30 days, of which 55% is accessible on a daily basis.
Investment maturities for December were$3,999,954(cost). These investments yielded an average of 3.27%.
Investment purchases and dividends reinvested for December were$5.211,821(cost). These investments yielded an average of 3.17%.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
11/30/01 % 12/31/01 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 22,668,143 40.73% 25,345,045 44.57%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 57 0.00% 57 0.00%
TEXPOOL 14,742,749 26.49% 14,123,198 24.84%
FGIC: 18,239.776 32.77% 17.394,292 30.59%
Total $55,655,724 100% $56,867592 100%
The City's average yield on investments was 3.83%and the average 90 day T-Bill yield was 1.71 which is a 212 basis point spread over the
benchmark. The Fed has cut interest rates by 475 basis points since the beginning of the year. The average yield on our portfolio has also
dropped, but not as quickly as the 90 day T-Bill. Total interest for December was$62,517.
Market Activity"
expected the Federal Open Markets Committee cut the Fed Funds rate by 25 basis points during the month of December, bringing the
rent rate to a 40 year low at 1.75%. This was the 11th time this year that the Fed cut interest rates.
Despite current economic conditions, there seems to be some hope on the horizon. Early signs of recovery, in a few areas, have investors
going back into the stock market. Long-term interest rates are rebounding, initial unemployment claims have dropped, new housing starts.
remain strong, and inventories are smaller. The FOMC meets on January 30th to vote on additional changes in monetary policy. Many
economists believe that the Fed will take a neutral stance at this meeting, and will leave interest rates unchanged.
Key Rates 21-Dec Year Ago
Fed Funds Rate 1.75% 7.00%
Certificates of Deposit: 3 month 1.88% 6.43%
6 month 1.96% 6.28%
Treasury Bill: 91 day 1.73% 5.77%
52 Week 2.23% 5.71%
Interest Rate Outlook February-02 April-02 Julv-02
Fed Funds 1.60% 1.60% 1.80%
30 day prime bank CD 1.70% 1.80% 1.90%
3 Month T-Bill Yield 1.60% 1.60% 1.80%
*Source:
GFOA, "Public Investor,"January 4, 2002
Evare Market Data
First Southwest Market Updates
17
Cash&Debt Department Prepared by:
January 31, 2002 Vicki Rodriquez
January
2001 2002
Orcent of funds invested 102% 100%
Consolidated Cash, Operating Account ($742,749) ($6,358)
50%of City funds are available for use within 30 days, of which 47% is accessible on a daily basis.
Investment maturities for January were$10,837.531(cost). These investments yielded an average of 2.47%.
Investment purchases and dividends reinvested for January were$10,277,693(cost). These investments yielded an average of 2.83%.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
12/31/01 % 01/31/02 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 25,345,045 44.57% 29,758,781 52.85%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 57 0.00% 57 0.00%
TEXPOOL 14,123,198 24.84% 12,280,680 21.81%
FGIC: 17,394,292 30.59% 14.263.236 25.33%
Total $56,867592 100% $56,307 754 100%
The City's average yield on investments was 3.66%and the average 90 day T-Bill yield was 1.66 which is a 200 basis point spread over the
benchmark. The Fed has cut interest rates by 475 basis points since the beginning of the year. The average yield on our portfolio has
continued to drop. Total interest for January was$.93,294.43.
Market Activity'
,mUe Federal Open Markets Committee met at the end of January. At this meeting, the Fed left rates unchanged. This was the first time in
past year that rates were left unchanged. Consumers are showing more signs of confidence and the economy is showing signs of
recovery.
The current economic conditions are mixed, suggesting both strength and weakness. The Fed's Beige Book reports that economic activity
remained weak from November through January. While the economic regions of Dallas and San Francisco report continued decline in
economic activity, Cleveland and New York show signs of bottoming out. The Beige book contacts believe that the economy will enter
recovery by mid-year and begin to signs of growth by 2003.
Key Rates 25-Jan Year Apo
Fed Funds Rate 2.00% 5.75%
Certificates of Deposit: 3 month 1.78% 5.50%
6 month 1.92% 5.32%
Treasury Bill: 91 day 1.67% 5.09%
52 Week 2.25% 5.71%
Interest Rate Outlook March-02 May-02 August-02
Fed Funds 1.60% 1.60% 1.90%
30 day prime bank CD 1.70% 1.80% 2.00%
3 Month T-Bill Yield 1.80% 1.80% 2.00%
*Source:
GFOA, "Public Investor," February 1, 2002
Evare Market Data
First Southwest Market Updates
10
17
Cash &Debt Department Prepared by:
rebruary 28, 2001 Vicki Rodriquez U
February
2001 2002
ercent of funds invested 103% 102%
Consolidated Cash, Operating Account ($1,230,701) ($663,919)
50% of City funds are available for use within 30 days, of which 48% is accessible on a daily basis.
Investment maturities for February were$9,011,673(cost). These investments yielded an average of 2.99%.
Investment purchases and dividends reinvested for February were$9,325,717(cost). These investments yielded an average of 2.18%.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
01/31/02 % 02/28/02 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 29,758,781 52.85% 29,465,776 52.04%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 57 0.00% 57 0.00%
TEXPOOL 12,280,680 21.81% 13,153,788 23.23%
FGIC: 14.263.236 25.33% 13.997.178 24.72%
Total $56307754 100% $561621,798 100%
The City's average yield on investments was 3.43% and the average 90 day T-Bill yield was 1.74%which is a 169 basis point spread over
the benchmark. The Fed has cut interest rates by 475 basis points since the beginning of the year. The average yield on our portfolio has
continued to drop. Total interest for February was$116,541.
Market Activity*
oeetdtheir last meeting, the Federal Open Markets Committee left the Fed funds rate unchanged at 1.75%. The committee expresses
nfidence that the economy is poised for recovery. The Fed meets again on March 19th and is expected to take a neutral bias at that time.
Chairman Alan Greenspan spoke to the Senate Banking Committee stating that "Recent evidence increasingly suggests that an
economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its
speed." He further pointed out that we have seen encouraging signs in recent days that trends in demand are strengthening, although there
is still some uncertainty. Even though Greenspan's trying his best to temper his positive comments, the market continues to move up the
implied date of the first rate hike by pushing yields higher. Fed Funds futures now indicate that gradual tightening could begin in late June.
Other economic news suggest strength in the economy. Unemployment fell to 5.5% and 66,000 new jobs were added to the nation's
payrolls during the month of February. This was the first job growth for the U.S. economy in seven months. U.S. retailers had their biggest
monthly sales gains in almost two years as consumers splurged on Valentine's day gifts and home furnishings. Retailers with low prices
and home goods led the gains. Economists continue to watch changes in the market and respond accordingly.
Key Rates 22-Feb Year Ago
Fed Funds Rate 1.69% 5.56%
Certificates of Deposit: 3 month 1.79% 5.23%
6 month 1.95% 5.07%
Treasury Bill: 91 day 1.73% 4.91%
52 Week 2.26% 5.71%
Interest Rate Outlook February-02 April-02 July-02
Fed Funds 1.80% 1.80% 2.00%
30 day prime bank CD 1.80% 1.90% 2.20%
3 Month T-Bill Yield 1.70% 1.80% 2.10%
'Source:
,IWOA,"Public Investor,"March 1, 2002
Ware Market Data
First Southwest Market Updates
17
Cash&Debt Department Prepared by:
March 31,2002 Vicki Rodriquez
March
2001 2002
Q
Percent of funds invested 102% 100%
Consolidated Cash,Operating Account ($759,164) $56,633
48%of City funds are available for use within 30 days, of which 47%is accessible on a daily basis.
Investment maturities and sells for March were$17,097,528(cost). These investments yielded an average of 2.92%.
Investment purchases and dividends reinvested for March were$7,920,235(cost). These investments yielded an average of 2.16%.
During the month of March approximately$7.2 million was wired to Dallas and Fort Worth for the D/FW revenue sharing agreement. Other
funds were used to pay outstanding debt service.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
0228/02 % 03/31/02 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 29,465,776 52.04% 24,968,248 52.63%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 57 0.00% 57 0.00%
TEXPOOL 13,153,788 23.23% 9,003,634 18.98%
FGIC: 13,997.178 24.72% 13,467.565 28.39%
Total $56,621,798 100% $47,444,505 100%
The City's average yield on investments was 3.27%and the average 90 day T-Bill yield was 1.81%which is a 146 basis point spread over the
benchmark. The Fed has cut interest rates by 475 basis points since the beginning of the year. The average yield on our portfolio has
continued to drop. Total interest for March was$175,216.
06arket Activity"
Although there continues to be signs of improvement in the economy, the economic indicators aren't as strong as they have been the past
couple of months. The Consumer Price Index only rose by 0.3%, down from the expected 0.5%. As the economy gains momentum and
demand for products increase, consumer prices typically rise. The Fed then attempts to slow the economy and keep inflation at acceptable
levels by raising interest rates. However,since consumer and producer inflation currently seem to be under control,the Fed won't be in a big
hurry to increase rates. a.,
Fed Chairman Alan Greenspan spoke to the Joint Economic Committee of Congress recently and indicated that upcoming rate hikes would
be delayed until the economy shows signs of a more sustainable recovery. Many had predicted that the Fed would begin tightening monetary
policy as early as June. However, low inflation and a"still uncertain"economic recovery suggest that the Fed will not begin tightening till later
in the year. The majority of the primary dealers expect the first tightening to begin some time after September.
Key Rates 29-Mar Year Aqo
Fed Funds Rate 1.81% 3.00%
Certificates of Deposit: 3 month 1.97% 4.80%
6 month 2.30% 4.62%
Treasury Bill: 91 day 1.82% 4.20%
52 Week 2.70% 4.24%
Interest Rate Outlook March-02 May-02 August-02
Fed Funds 1.80% 2.00% 2.50%
30 day prime bank CD 1.90% 2.20% 2.70%
3 Month T-Bill Yield 1.90% 2.20% 2.70%
'Source:
"FOA,"Public Investor,"April 5,2002
vare Market Data
First Southwest Market Updates
17
Cash&Debt Department Prepared by:
April 38, 2002 Vicki Rodriquez
April
2001 2002
ksolidated
cent of funds invested 97% 97%
Cash, Operating Account $1,481,575 $1,720,791
51%of City funds are available for use within 30 days, of which 48% is accessible on a daily basis.
Investment maturities for April were$6,310,789(cost). These investments yielded an average of 2.77%.
Investment purchases and dividends reinvested for April were$7,025,797(cost). These investments yielded an average of 2.39%.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
03/31/02 % 04/30/02 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 24,968,248 52.63% 24,575,455 51.02%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 57 0.00% 57 0.00%
TEXPOOL 9,003,634 18.98% 11,199,549 23.25%
FGIC: 13,467,565 28.39% 12.384,451 25.71%
Total $47,444,505 100% $48,164,513 100%
The City's average yield on investments was 3.26% and the average 90 day T-Bill yield was 1.69%which is a 157 basis point spread over
the benchmark. The Fed has cut interest rates by 475 basis points since the beginning of the year. The average yield on our portfolio has
continued to drop. Total interest for April was$147,680.
Market Activity'`
The yield curve grew steeper in the month of April as the spread between short-term and long-term maturities widened. Fed watchers
10pect the Fed to keep rates in a holding pattern until the economy shows clearer signs of recovery. The uncertain outlook of consumer
mand is one main factor keeping the Fed from prematurely putting the brakes on the economy by raising rates. The Fed is expected to
begin raising rates gradually around August to November of this year. Economists believe that once tightening begins, short-term rates will
rise toward the 4%range over the course of several quarters.
Although current inflation remains low, there are some disturbing signals of future inflation. The UBS Leading Inflation Index increased 1.5
percent in March. This is the third consecutive increase in the index. This index provides a one year advance warning of future inflation.
Another leading indicator of inflation, the Producer Price Index, increased 1 percent in March. This was the largest increase in 14 months.
Prior to this increase,the PPI had decreased 2.6 percent over a 12 month period.
Key Rates 26-Aar Year Ago
Fed Funds Rate 1.81% 4.44%
Certificates of Deposit: 3 month 1.81% 4.25%
6 month 2.01% 4.19%
Treasury Bill: 91 day 1.69% 3.66%
52 Week 2.31% 4.24%
Interest Rate Outlook April-02 June-02 September-02
Fed Funds 1.80% 2.00% 2.30%
30 day prime bank CD 1.80% 2.10% 2.40%
3 Month T-Bill Yield 1.80% 2.10% 2.50%
*Source:
GFOA,"Public Investor,"April 3, 2002
Evare Market Data
rst Southwest Market Updates
17
Cash&Debt Department Prepared by:
May 31�2002 Vicki Rodriquez
May
2001 2002
rcent of funds invested 101% 101%
Ponsolidated Cash, Operating Account ($991,850) ($261,916)
49% of City funds are available for use within 30 days, of which 47% is accessible on a daily basis.
Investment maturities for May were$4,895,000(cost). These investments yielded an average of 1.88%.
Investment purchases and dividends reinvested for May were$7,346,554(cost). These investments yielded an average of 2.27%.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
04/30/02 % 05/31/02 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 24,575,455 51.02% 26,753,544 52.86%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 57 0.00% 57 0.00%
TEXPOOL 11,199,549 23.25% 11,949,732 23.61%
FGIC: 12,384,451 25.71% 11.908.034 23.53%
Total $48,164,513 100% $50,616,367 100%
The City's average yield on investments was 3.21% and the average 90 day T-Bill yield was 1.73%which is a 148 basis point spread over
the benchmark. The Fed has cut interest rates by 475 basis points since the beginning of the year. The average yield on our portfolio has
continued to drop. Total interest for May was$99,418.
Market Activity*
The Fed kept the Fed funds rate unchanged at its recent meeting, and will likely keep rates on hold until the economy exhibits more definite
ans of solid recovery. The Fed may postpone a hike until its November meeting to avoid influencing the Congressional elections this fall.
ide for the unstable economy, the Fed is in no hurry to raise rates because inflation remains subdued. The absence of inflation pressures
has provided the Fed with some flexibility to keep rates low to stimulate the economy.
The strength of the economy remains difficult to gauge. Data suggest that the recent rebound may not continue, partly because lower taxes
and refunds provided only a temporary boost to the economy. Also, the threat of terrorism is still looming on the horizon. The market
continues to see changes in interest rates on a daily basis. The investment staff will continue to monitor the market, and take advantage of
the upward swings in the market.
Key Rates 3. 1-Mav Year Ago
Fed Funds Rate 1.79% 4.00%
Certificates of Deposit: 3 month 1.80% 3.86%
6 month 1.99% 3.85%
Treasury Bill: 91 day 1.73% 3.61%
52 Week 2.34% 4.24%
Interest Rate Outlook Mav-02 Julv-02 October-02
Fed Funds 1.80% 2.00% 2.50%
30 day prime bank CD 1.90% 2.10% 2.60%
3 Month T-Bill Yield 1.80% 2.20% 2.70%
*Source:
GFOA, "Public Investor,"June 7, 2002
Evare Market Data
First Southwest Market Updates
0
17
(
^
Cash&Debt Department Prepared by:
Jdnm30k 2002 . Vicki Rodriquez
June
2001 2002
rcent of funds invested 102% 101%
onwdidab»dCash,Operating Account ($847,920 ($569,261)
4GY6ofCity funds are available for use within 30 days,nfwhich 4496 is accessible onedaily basis.
Investment maturities for June were$7.24Q.78G(coaU. These investments yielded anaverage of2.27%.
Investment purchases and dividends reinvested for June were$7,861,570(cost). These investments yielded mnaverage nf2.4QY4.
PORTFOLIO SUMMARY BYINSTRUMENT
(at cost)
05/31/02 % 06/30/02 %
Treasuries: $O 0.0096 $O 0.009&
Agencies: 26.753.544 52.86% 28.602.841 55.83%
CD's: 5.000 0.01% 5.000 0.0196
LOGIC: 57 0.00% 67 0I096
TEXPC>OL 11.949.732 23.619k 11.597.700 22.64Y6
FG|C: 11^908L034 23.53% 11,022,574 21.52%
Tota100% $5j 100%,228,172
The Citys average yield on investments was 3.13% and the average 90 day T-Bill yield was 1.71%which is a 142 basis point spread over
the benchmark. The Fed has cut interest rates by 475 basis points since the beginning of the year. The average yield onour portfolio has
continued bmdrop. Total interest for June was$7D.4QQ.
Market ActivitV*
Economic data suggests that the economy is recovering atuweak pace. Although GDP grew 6.1 percent in the first quorter. Q!uvth has
recented in nth �o ' nokmgerbapunddingiheboo�hn#nemoonomythottheydidinthebeginningofthenameomion.0t:0 sales have experienced sharper than expected declines in the last couple of months.
The Federal OpenMarkets Committeendnuambuwait for more definite signs cfasolid recovery before raising the Fed funds rate.
Many Fed watchers expect the Fed to keep rates on hold until the and of this year or beginning ofnext year. Last month. the Fed funds
futures market placed m 60 percent probability that the Fed will raise rates at its September meeting. Hoxwaxer, oaxmmd recent events,
including weak stock market, corporate accounting scandals and declining consumer confidence, may delay any movement by the Fed for
several months.
21-Jun Year����
Fed Funds Rate 1.88% 3.75%
Certificates ofDeposit: 3month 1.8196 3.6496
Gmonth 1.8196 3.6896
Treasury Bill: 91 day 1.70% 34496
52 Week 2.09% 3.4196
Interest Rate Ou June-02 Auciyst-02 November-02
Fed Funds 1.80% 1.80% 2.10%
3Oday prime bank CD 1.8094 1.80% 2.30Y6
3 Month T'8iUYield 1.80% 1.90Y6 2.30%
*Source:
GFOA."Public|nvector.~July 5.2OU2
Bmre Market Data
First Southwest Market Updates
Cash&Debt Department Prepared by:
July 31,42002 Vicki Rodriquez
July
2001 2002
rcent of funds invested 902% 101%
onsolidated Cash, Operating Account ($589,489) ($338,203)
50%of City funds are available for use within 30 days,of which 48%is accessible on a daily basis.
Investment maturities for July were$12,912,256(cost). These investments yielded an average of 2.74%.
Investment purchases and dividends reinvested for July were$10,542,143(cost). These investments yielded an average of 2.49%.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
06130102 % 07/31/02 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 28,602,841 55.83% 25,397,585 51.98%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 57 0.00% 57 0.00%
TEXPOOL 11,597,700 22.64% 12,417,504 .25.42%
FGIC: 11.022,574 21.52% 11,037.913 22.59%
Total $51,228,172 100°!0 $48,85$,059 100%
The City's average yield on investments was 3.08%and the average 90 day T-Bill yield was 1.70%which is a 138 basis point spread over the
benchmark. The average yield on our portfolio has continued to drop. Total interest for July was$170,022.
Market Activity"
Federal Reserve policy makers took a step toward lowering U.S. interest rates for a 12th time in 2 years by saying the risks of an economic
slowdown outweigh the threat of inflation. Central Bankers also left the benchmark overnight lending rate at a 41 year low of 1.75% and
40 icated the economy's recovery from recession is less assured than it was just a few months ago.
Economic growth slowed in the second quarter to a 1.1% annual rate, down from a 5% pace in the first quarter of the year, and the third
quarter may not be better. The change in the Fed's statements sends a"strong signal that it is aware that the real economy is being dented
by financial market volatility." Most economists believe that the next move by the Fed may be an easing rather than a tightening. If so,
economists are projecting the move sometime before the end of the year.
Key Rates 15-Jul Year Acao
Fed Funds Rate 1.75% 3.63%
Certificates of Deposit: 3 month 1.79% 3.60%
6 month 1.83% 3.65%
Treasury Bill: 91 day 1.70% 3.56%
52 Week 1.93% 3.57%
Interest Rate Outlook July-02 September-02 December-02
Fed Funds 1.80% 1.90% 2.40%
30 day prime bank CD 1.90% 1.90% 2.30%
3 Month T-Bill Yield 1.80% 1.90% 2.30%
"Source:
GFOA,"Public Investor,"August 2,2002
Evare Market Data
First Southwest Market Updates
IL I
17
Cash&Debt Department Prepared by:
Augusat 31(,2092 Vicki Rodriquez
August
2001 2002
Qorcent of funds invested 101% 100%
nsolidated Cash,Operating Account ($435,744) $704,986
53%of City funds are available for use within 30 days, of which 50% is accessible on a daily basis.
Investment maturities for August were$10,082,106(cost). These investments yielded an average of 2.22%.
Investment purchases and dividends reinvested for August were$10,299,935(cost). These investments yielded an average of 2.27%.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
07/31/02 % 08/31/02 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 25,397,585 51.98% 24,965,895 50.87%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 57 0.00% 58 0.00%
TEXPOOL 12,417,504 25.42% 13,220,831 26.94%
FGIC: 11,037,913 22.59% 10,884,106 22.18%
Total ✓ $48,858,059 100% $49,075,889 100%
The City's average yield on investments was 3.07% and the average 90 day T-Bill yield was 1.63%which is a 144 basis point spread over
the benchmark. The average yield on our portfolio has continued to drop. Total interest for August was$105,293.95.
Market Activity*
Current economic data suggest that the economic recovery will be sluggish. Consumer confidence figures and the unemployment rate
suggest weak growth. However, the industrial production index and retail sales continue to increase. Meanwhile inflation remains dormant
40 ing by only 1.1 percent over the past 12 months. Economists expect inflation to remain around 2.5 percent through the end of the year.
In the latest survey of primary dealers, all of the 22 primary dealers believe that the Fed will leave rates unchanged at their meeting next
week. However,6 of the 22 firms still expect a rate cut before year end. A number of Fed officials have publicly announced that the current
1.75% overnight rate should provide adequate stimulus for economic growth. There are many factors that could effect their decision
including terrorist threats,equity markets,and problems with Iraq.
Key Rates 30-Au-Q Year Ago
Fed Funds Rate 1.83% 3.63%
Certificates of Deposit: 3 month 1.77% 3.45%
6 month 1.77% 3.47%
Treasury Bill: 91 day 1.68% 3.33%
52 Week 1.74% 3.41%
Interest Rate Outlook October-02 December-62 March-03
Fed Funds 1.80% 1.80% 1.80%
30 day prime bank CD 1.80% 1.80% 1.90%
3 Month T-Bill Yield 1,70% 1.70% 1.80%
*Source:
GFOA,"Public Investor,"September 6,2002
Evare Market Data
First Southwest Market Updates
17
Cash&Debt Department Prepared by:
SeptemW,t30,2002 Vicki Rodriquez
September
2001 2002
M IFrcent of funds invested 103% 105%
onsolidated Cash, Operating Account ($1,152,313) ($2,219,785)
45%of City funds are available for use within 30 days, of which 42%is accessible on a daily basis.
Investment maturities for September were$5,300,000(cost). These investments yielded an average of 2.36%.
Investment purchases and dividends reinvested for September were$6,020,568(cost). These investments yielded an average of 2.45%.
PORTFOLIO SUMMARY BY INSTRUMENT
(at cost)
08/31/02 % 09/30/02 %
Treasuries: $0 0.00% $0 0.00%
Agencies: 24,965,895 50.87% 28,873,901 57.98%
CD's: 5,000 0.01% 5,000 0.01%
LOGIC: 58 0.00% 58 0.00%
TEXPOOL 13,220,831 26.94% 10,094,940 20.27%
FGIC: 10,884.106 22.18% 10.822,559 21.73%
Total $49,075,889 100% $49,796,457 100%
The City's average yield on investments was 2.92%and the average 90 day T-Bill yield was 1.65%which is a 127 basis point spread over the
benchmark. The average yield on our portfolio has continued to drop. Total interest for September with year end accruals was$231,245.
Market Activity"
The Federal Open Markets Committee left rates unchanged at 1.75 percent at their September 24th meeting. The Fed funds future market
places a 78%probability of a Fed rate cut at its November 6 meeting. The economy continues to show signs of recovery mixed with signs of
eakness. Industrial production declined in August. The Federal Reserve"Beige Book"suggests further signs of weakness.
Looking to the future,the most recent data suggest that the economy will recover, but at a much slower pace than originally anticipated. The
index of leading indicators declined for the third straight month. Typically, a three month decline in the index suggests a trend. Forecasters
have lowered their predictions of economic growth for the next twelve months. GDP growth is projected at 2.6%for the fourth quarter.
Key Rates 27-Seo Year Ago
Fed Funds Rate 1.78% 3.50%
Certificates of Deposit: 3 month 1.75% 2.51%
6 month 1.71% 2.43%
Treasury Bill: 91 day 1.61% 2.36%
52 Week 1.62% 2.49%
Interest Rate Outlook December-02 February-03 May-03
Fed Funds 1.80% 1.80% 2.00%
30 day prime bank CD 1.80% 1.80% 2.00%
3 Month T-Bill Yield 1.60% 1.70% 1.80%
'Source:
GFOA,"Public Investor,"October 4,2002
Evare Market Data
First Southwest Market Updates
10
17