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HomeMy WebLinkAboutFY 2003 Third Quarter Investment Report CI v of Euless � i T-hird QuarM-r vestmen t -Repo-H F3sctil Year Euding September 30 20/ 3 C INVESTMENT COMMITTEE MEETING October 22, 2003 * Compliance Summary-Legislative Requirements * Third Quarter Review, Fiscal Year 2003 Portfolio Summary Collateral Review Interest Income Projection * Economic Outlook * Appendices Appendix A- Investment Portfolio by Type of Asset Appendix B- Investment Portfolio by Fund Appendix C- Investment Purchases & Maturities by Month Appendix D- Investment Maturities by Fund June 30, 2003 * General Discussion or Questions Apk To Investment Committee Members From Vicki Rodriquez, Finance Administrator Date October 22, 2003 Subject Third Quarter Investment Report The City of Euless Investment Policy, adopted by the City Council in April 2003, 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 third quarter of Fiscal Year 2002-03 and information for all fund's 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 third quarter report of FY 2003 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 3/31/2003, changes in market value, the market value at 06/30/2003, 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. Investment Strategy Compliance The strategy for all pooled funds is to assure that cash flows are matched with projected needs and assume Ctdequate liquidity and safety. This may be accomplished by purchasing high quality securities in a laddered tructure or utilizing an investment pool (See Appendiz E). Futhermore the following purposes are also considered when investing. -Operating Funds willl be structured in such a way as to minimize volatility during economic cycles. This may be accomplished by purchasing high quality short-term securities. The weighted average maturity on these funds will remain within the 6 to 9 month range. 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 235 LLEBG 01/02 601 Equipment Replacement Fund 240 Car Rental Tax Fund 610 Health Insurance 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 securities held 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,Operating and Debt Service Reserve funds will have the ability to generate a dependable revenue stream to the appropriate fund from securities with a low degree of volatility. Such securities will tend to hold their value during economic cycles. The stated final maturity dates of securities held 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 1/2 Cent Sales Tax-Bond Reserve 705 Star Center Bond Reserve 240 Car Rental Tax Fund (2,000,000 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. Loreetchell C [ Director of Fiscal and Pdministrative Services_ i r iclki Rodriquez -' inance Administrator 2 Summary of Investments by Fund The following is a summary of investments held by each fund at December 31, 2002, and March 31, 2003. The changes include all nvestment purchases, maturities and expenses that occurred during the second quarter of FY2003. Investment Securities Investment Securities Increase/ at Market Value at Market Value Decrease 03/31/03 /06 30/03 In Fund 101 General Fund 8,721,991.89 9,214,503.87 492,511.98 Franchise Receipts 102 General Fund-Emergency 502,265.63 500,625.00 (1,640.63) 103 General Fund-Contingency 500,937.50 503,906.25 2,968.75 201 Hotel-Motel Tax Fund 167,025.89 150,683.22 (16,342.67) Arbor Daze Sponsorship 210 1/2 Cent-Operations Fund 808,619.96 760,411.95 (48,208.01) Operating Expenses 211 1/2 Cent-Debt reserve 956,214.90 959,226.47 3,011.57 220 CCPD 440,487.51 361,141.99 (79,345.52) Operating Expenses 230 Police Drug-DEA Awards 199,310.90 199,904.79 593.89 231 Police Drug-State Awards 10,808.07 10,837.58 29.51 232 Ft.Worth DEA Task Force 6,592.59 4,906.39 (1,686.20) 235 LLEBG 01/02 26,707.90 26,785.24 77.34 240 Car Rental Tax Fund 3,908,327.50 5,513,297.40 1,604,969.90 Car Rental Receipts 301 Developer's Escrow Fund 1,125,034.56 1,328,712.82 .203,678.26 Excess Fund Balance 305 Streets&Drainage-CIP 7,856,369.76 7,334,499.83 (521,869.93) Capital Outlay 310 1/2 Cent Sales Tax-CIP 378,847.53 373,239.66 (5,607.87) 320 General CIP Fund 24,451.88 24,527.71 75.83 325 Police Facility CIP 26,991.37 27,065.07 73.70 330 Car Rental CIP Fund 1,369,259.87 1,627,466.28 258,206.41 Excess Fund Balance 401 Debt Service/General 1,158,953.82 1,263,127.24 104,173.42 402 Star Center Debt Service 195,406.88 441,106.32 245,699.44 Lease Payments 501 Water&Sewer Fund 4,129,327.12 4,826,677.39 697,350.27 Increased Revenues 502 Water&Sewer-CIP 3,401,864.10 3,248,981.08 (152,883.02) Capital Outlay 505 Water Impact Fees 1,600,208.51 1,781,673.93 181,465.42 Impact fees 507 Water&Sewer-Emergency 500,625.00 500,625.00 0.00 508 Wastewater Impact Fees 986,811.42 988,139.17 1,327.75 510 Drainage Utility 625,981.86 665,628.24 39,646.38 Excess Fund Balance 511 Drainage-CIP 1,119,986.20 841,868.97 (278,117.23) Capital Outlay 512 Drainage Reserve 231,119.00 231,119.00 0.00 520 Recreation Classes Fund 158,450.90 229,141.81 70,690.91 Recreation fees 521 Arbor Daze Fund 250,433.60 299,520.21 49,086.61 Revenues from event 530 Softball World Operations 444,774.82 546,397.26 101,622.44 Softball revenues 540 Golf Course Operations 0.00 0.00 0.00 541 Goff Course CIP 150 202.70 0.000 0 (15 ,2 2.70) ebt service D 550 Parks @ Texas Star 51,240.17 121,506.01 70,265.84 Ath. Complex Revenues 552 Athletic Complex CIP 1,527,054.55 1,591,866.98 64,812.43 Excess Fund Balance 601 Equipment Replacement 506,217.83 497,848.51 (8,369.32) 610 Health Insurance Fund 0.00 0.00 0.00 615 Risk Management Fund 444,313.79 495,880.57 51,566.78 Excess Fund Balance 705 Star Center Reserve Fund 2,159,998.31 2,166,634.05 6,635.74 Interest TOTAL: 46,673,215.79 49,659,483.26 2,986,267.47 3 ' PORTFOLIO SUMMARY The City's pooled investment portfolio at the end of the third quarter,June 30,2003,is summarized by instrument and by maturity as own below. 16 Distribution by Instrument Average %of Average Yield Instrument Type $COST Portfolio Yield Last Qtr Agencies 28,202,166 56.84% 1.87% 2.53% Money Markets/Pools 21,408,625 43.15% 1.20% 1.26% Certificates of Deposit 5.000 0,01% 2.00% 2.00% $49,615,791 100.00% This table shows that the majority of City funds,approximately 57% are invested in government agencies, which provide a high level of safety. An additional 41% are invested in money market funds and local government investment pools which also provide a high level of safety, as well as daily liquidity. As of the date of this report, the average yield on our portfolio was 1.96%. The Fed cut rates by 25 basis points during this quarter bringing the Fed funds rate to 1.00%. This is the lowest level in 30 years. Our average yield continues to drop as securities mature and funds are reinvested at lower rates. Distribution by Maturity #of Days CQ51 % of Portfolio 1 -30 $21,408,625 43.11% 31 -90 $1,406,550 2.83% 91 -180 $1,398,882 2.82% 181-365 $3,194,538 6.43% 0 Over 365 $22,254.82n 44,81% Total $49,663,414 100.00% This information reflects the current structure and strategy of the City's pooled portfolio. Approximately 49% of the portfolio is invested within the six month area. This strategy was followed to meet cashflow requirements for construction projects, payroll, debt service, and other operating expenses. An additional 6% matures within one year and the remaining 45% is invested beyond one year. Funds were invested beyond one year to take advantage of higher rates on the longer end of the yield curve. Currently the longest maturity in our portfolio is 3 years. We were able to comply with our investment policy by using emergency, contingency, and reserve funds for these longer investments. The average weighted maturity of our portfolio is currently 293 days,within our 365 day guideline. By Instrument By Maturity CD's 0% MMkts/Pool 01 -30 43% 45% 43% tox 1331 -90 091-180 Agencies 0181-365 57% 0, B Over 365 6% 3%3% 0 4 r City of Euless Pooled Portfolio Summary 0 for Quarter Ending March 31, 2003 Cost Book Market Principal Only value Value Investments at , 2002 $46,598,604.49 $46,566,259.63 $46,673,215.76 Investment Purchases 27,337,100.42 Investment Maturities (24,390,781.25) Dividends Reinvested Pools 70 866.85 Investments atM�34, 2003 $49,615,790.51 $49,576,544.45 $49,659,483.24 jAze, Lorettd Getchell Director of Fiscal and Administrative Services Vicki Rod(iqLfez Finance Administrator 1 I 0 5 Cash Management Activity Average 90 Day T Bill Yield Average City Basis Point C" (BenchmaW Portfolio Yield Difference Apr 1.14% 2.29% 1.15% May 1.07% 2.13% 1.06% Jun 0.93% 1.96% 1.03% The Fed Funds rate is currently at 1.00%. This is the lowest level in over 30 years. This level is indicated above by the average 90 day T-Bill rate. Currently, the average yield on our portfolio is 1.96%. The average yield on our portfolio dropped 46 basis points during the quarter and continues to drop. Month Invested Balance Cash Balance % Invested Apr $47,345,618.00 $723,489.00 99% May $48,729,547.00 ($195,505.00) 101% Jun $49,663,414.00 $221,169.00 10% Average $48,579,526.33 $249,717.67 100% The City investment program pursues maximum interest income revenues while maintaining safety and liquidity using the following strategy: -immediately deposit all receipts,utilizing wire transfers,ACH,and couriers; -slow down disbursement of funds using ACH,wire transfers,etc.; jocashflow forecasting to meet estimated disbursements by each fund; Man full investment of upcoming resources at their peak availability to maximize interest earnings and ; -to minimize cash at the bank; -purchase diversified investments and hold to maturity -keep abreast of current market environment to benefit from interest rate changes. % Invested Cash 101.50% $800,000.00 101.00% $600,000.00 100.50% $400,000.00 100.00% - $200,000.00 99.50% - $0.00 99.00°l0 ($200,000-00) 98.50% 98.00% 400,000,00) Apr May Jun Apr May Jun COLLATERAL REVIEW The first and most important objective of public funds investments is safety of assets. Therefore,all non-government security investments must be secured by collateral. This is accomplished by monitoring daily bank balances and montwy reporting of their full coverage. Collateral levels may be adjusted to secure the varying levels of receipts throughout the fiscal year. City of Euless Collateral Analysis for Cash & C.D. Investments as of 6/30/03 Pledging Safekeeping Pledged Sec. Security Market Value Inv.Value Difference Institution Location Description Par Value (w/FDIC Ins.) (d) Mat'v(P& Il Over/(Under) Bank One FDIC Ins. $0 $100,000 $26,487 $73,513 $ Mkt $0 DDA $26,487 Southtrust FDIC Ins. $0 $100,000 $45,023 $54,977 Payroll $4,452 Operating $40,571 First Nat'l Texas Independent $1,500,000 $1,627,344 $487,444 $1,139,900 Bank Mid-Cities Bank FNMA Payroll $21,581 05/03/05 $500,000 Operating $465,863 FHLMC 06/21/05 $500,000 FHLMC ® 02/20/07 $500,000 Reproduced By: Finance Administrator - �—� Ji Reviewed by: Director of Fiscal&Admin Srvc; This review is practiced on a regular basis assuring thorough coverage. Another regular practice is reviewing each individual instrument purchased. This assures compliance with the Investment policy and consideration of the underlying security. This separate but thorough practice has protected the City's portfolio against derivative products in an unstable rate environment. 7 r: INTEREST INCOME FY01-02 Budget: $1,822,036 FY02-03 Budget $1,171,560 FY01-02 Y-T-D: $1,373,117 FY02-03 Y-T-D: $620,404 Percent of Budget: 75% FY02-03 Projected: $890,289 Proj.%of Budget: 75.99% The FY02-03 projected interest income amount is comprised of interest income received year-to-date,coupon payments and interest to be received on existing investments,and interest that will accrue through the end of the fiscal year. Interest continues to be earned and distributed to the various funds which are able to invest. Interest Income By Fund As of 6/30/2003 Fund Fund FY 02 FY 02 *FY 03 FY 03 Cpns& Proj Proj Proj Int. 9 Name Budget Audit Rudg M Exist In ASxi W i4einv income Difference- 101 General $280,000 $274,681 1 $280,000 $119,176 $27,749 $23,174 $6,881 $176,980 ($103,020) 201 Hotel/Motel 8,000 4,305 7,000 1,568 0 0 $375 1,943 (5,057) 210 1/2 Cent-Ops 50,000 20,267 40,000 9,562 0 0 $2,774 12,335 27,665) "211 1/2 Cent-Reserve 0 19,948 0 8,608 0 0 $2,500 11,108 11,108 220 Crime Control 15,000 11,213 15,000 5,427 0 0 $300 5,727 (9,273) 230 Euless DEA 5,000 3,004 5,000 1,921 0 0 $600 2,521 (2,479) 231 Police State Awards 0 215 0 1 97 0 0 $30 127 127 232 DEA Task 0 207 0 207 0 0 $30 237 237 233 LLEBG 99/00 0 308 0 0 0 0 $0 0 0 234 LLEBG 01 0 329 0 0 0 0 $0 0 0 235 LLEBG 02 0 0 0 242 0 0 $75 317 317 240 Car Rental 250,000 247,750 200,000 100,688 30,147 9,755 $12,453 153,042 46,958) 301 Escrow 50,000 42,509 20,000 18,194 1,331 0 $7,125 26,650 6,650 305 Street CIP 346,862 222,650 140,000 77,641 0 2,734 $17,300 97,676 (42,324 310 1/2 Cent-CIP 3,798 15,799 2,000 4,012 0 0 $1,311 5,323 3,323 320 G.O.CIP 0 11,833 0 442 0 0 $75 517 517 325 Police Facility-CIP 111,538 17,863 0 243 0 0 75 318 318 330 Car Rental-CIP 73 13,277 0 16,929 1,011 0 $5,400 23,341 1 23,341 401 GO Debt 15,000 17,631 13,000 11,359 0 0 $4,500 15,859 2,859 402 Star Center Debt 10,000 5,941 6,000 3,602 0 0 $1,275 4,877 (1,123) 501 Wtr/Sewer 300,000 230,706 260,000 72,729 21,868 8,836 $8,885 112,319 (147,681) 502 W&S CIP 129,196 65,611 45,845 45,336 14,044 1,751 $5,809 66,941 21,096 503 W&S Res 20,000 3,794 8,000 7,200 0 0 $1,932 9,132 1,132 505 Water Impact Fee 60,000 38,569 20,000 18,376 3,913 5,612 $2,501 30,401 10,401 508 Wastewater Impact 52,000 14,206 20,000 11,185 2,663 0 $3,005 16,853 (3,147) 510 Draina a 20,000 22,379 20,000 10,910 0 1,375 $1,338 13,623 (6,377) 511 Drainage CIP 6,000 7,250 1 6,000 11,539 0 1,725 1 $900 14,164 8,164 520 Recreation Classes 2,500 3,365 2,500 1,705 0 0 $850 2,555 55 521 Arbor Daze 1,000 4.501 1,000 2,479 0 0 $1,500 3,979 2,979 530 Softball World 5,000 10,500 5,000 1 5,544 0 0 $2,942 8,486 3,486 540 Golf Course Ops 7,215 2,868 7,215 0 0 0 $0 0 7,215 541 Golf Course CIP 24,008 8,165 0 1,194 0 0 $0 1,194 1,194 550 Parks at Texas Star 0 1,139 0 707 0 0 $450 1,157 1,157 552 Ath.Complex PH II 1,846 1,845 0 18,070 2.375 5,736 1 $300 26,481 26,481 601 E .Re I. 8,000 22,870 8,000 5,779 0 0 $2,265 8,044 44 610 Health insurance 15,000 13,244 15,000 136 0 0 $0 136 (14,864 615 Risk M mt 25,000 10,982 25,000 4,942 0 0 $1,830 6,772 18,228) 705 Star Center Reserve 1 0 43,673 0 22,657 0 0 $6,500 29,157 29,157 Total 1 1$1,822,036 1 $1,373,117 $1,171,560 $620,404 $105,101 1 $60,699 1 $104,086 $890,289 1 ($281,271) Note that interest earnings is being earned by all investable City funds and great efforts are pursued for all funds to meet their budgeted level. However,due to current economic conditions and a current fed funds rate of 1%,several funds will not meet their estimated budget. Several funds were not budgeted due to the volatility of their revenues and expenditures. However,these funds are used for investment purposes when they have funds available. These funds include Capital Improvement Projects,DEA funds and the Star Center Reserve. FY 2003 budgeted interest earnings were based on an average rate of return of approximately 3.0%. We are currently earning an average of 1.96%on our investments. 10 "The interest earned in this fund is transferred to the Half Cent SalesTax operating fund after the required reserve level has been met. 8 Economic News The economy continued its slow growth mode in June, with the Fed reporting slug*h economic activity in most districts. The Fed cut rates by 25 basis points during the month of June, bringing the current Fed funds rate to 1%. At its most recent meeting on September 16, the Fed left rates unchanged. The Fed commented that the labor market remains weak and indicated that they intend to keep the Fed funds rate low for a considerable period of time. The economy is showing signs of stronger growth. The Federal Reserve's "Beige Book" reported that the economy continued to improve in July and August. However, the Consumer Confidence Index fell to the lowest level since the Iraqi war, and the economic growth has had no trickle down effect to the labor market, which continue to display weakness. Looking forward, a survey of professional forecasters predicts that the economy will improve through the remainder of the year and the beginning of next year. The forecasters predict that GDP will average 2.3% for 2003 and 4.0% for 2004. While this may happen, many Fed watchers expect the Fed to leave rates on hold until the middle of next year, and possibly longer. The threat of deflation continues. to pose a serious risk to the economy. Therefore, Economists expect the Fed to wait for several quarters of strong economic growth (i.e.. greater than 4%) before raising rates. We will continue to monitor our investment portfolio. At the end of March, the average rate of return on our portfolio was 2.42%. This yield has dropped 46 basis points since March and is currently at 1.96%. This yield could continue to fall as current investments mature and funds are reinvested at much lower yields. Source: First Southwest Company, Money Market updates. 9 MINUTES INVESTMENT COMMITTEE MEETING 05/29/03 Members: Mary Lib Saleh, Mayor Gary McKamie, Deputy City Manager Loretta Getchell, Director of Fiscal and Administrative Services Vicki Rodriquez, Finance Administrator Bill Ridgway, Director of Economic Development Committee members present included Gary McKamie, Loretta Getchell, Bill Ridgway, Mayor Saleh, and Vicki Rodriquez. Vicki Rodriquez presented the Second Quarter Investment Report to the committee. Vicki pointed out that the total market value of the portfolio as of March 31st was$46,673,216,which was a decrease of approximately 4.5 million due to the payment to Dallas and Fort Worth for their portion of the revenue sharing agreement. She also stated that the portfolio had 58% invested in money market funds and investment pools, which is very safe and highly liquid. Vicki also reported that as of March 31st, 64% of the City's portfolio was available within 6 months, and the weighted average maturity of the portfolio was 289 days. The average yield on the portfolio was 2.42%. Vicki presented the minutes from the previous meeting. Bill Ridgway motioned to approve the minutes as presented. Mayor Saleh seconded. Motion passed. . Motion assed Mayor Saleh motioned to accept the investment report as resented. Bill Ridgway secondedp Y P P P 9w Y Gary McKamie motioned to adjourn. Loretta Getchell seconded. IDeting was adjourned. 10 APPENDIX • 0 ftfEuless I an.Portfolio As of March 31.2003 "Market Prices Provided by Wachovia Securities Imeslmanl Type Institution LOGIC Local Gov't Pool FNMA Fed.Nall Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Wachovia Wachovla Securities FSW First Southwest LOGIC Local Govt Investment Coop. ' FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Vining Vining Sparks Merrill Merrill Lynch FGIC Financial Investors Trust Texpoo Local Govt Pool FHLB Fed.Home Loan Bank BancOne Banc One Capital LNDMRK Landmark Bank Texpool TEXPOOL Duncan Duncan Williams Inv. Cusip Purchase Term Maturity Cell Days Price Par Principal Interest Interest Yield To Book Market Market Seller Unamortized Coupon TJt94 dumber Pltt4 (in days) Date pale Accrued Per 5100 Y9lst Invested a me tY Accrued Matudflt value Ebro Ytslue tnaL DbcouM Premium Prem/Disc sate U.S.GOVERNMENT AGENCIES Agency Coupon Notes FHLB 3133MMGB3 03/14X12 204 04/08/03 n1c 172 100.000000 1.000.000.00 1,000,000.00 13,000.00 10,960.78 2.60% 1,000,000.00 100.031250 1,000,312.50 Banc One 2.600% FNMA 3135OMKTR 0827X11 160 08115/03 n/c 45 99.902000 500,000.00 499,510.00 10,000.00 2.500.00 4.05% 500,000.00 100.828125 504,140.63 Merrill 4.000% FNMA 3135OMKTO 04/12/02 180 OW15/03 n/c 45 101.281250 890,000.00 901,403.13 17,800.00 4,450.00 3.02% 892,850.76 100.828125 897,370.31 Merrill 11,403.13 2,850.76 4.000% FHLB 3133WVZ0 06/12102 180 11/14/03 ri/c 136 99.625000 500,000.00 498,125.00 6,250.00 4,722.22 2.77% 499,227.97 100.671875 503,359.38 Vining 1,875.00 (772.03) 2.500% FHLB -3133MJXD7 04/17/02 160 12J04103 rJc 116 98.964000 900,000.00 690,676.00 12,375.00 7,975.00 3.41% 896,270AO 100.937500 908,437.50 Banc One 9,324.00 (3.729.60) 2.750% FHLB 3133WGN1 0628102 180 0126104 n/c 64 104.574000 750,000.00 784,305.00 20,662.50 7,346.67 2.20% 768.161.46 103.500000 776,250.00 Merrill 34,305.00 18,161.46 5.510% FHLB 3133M7JVQ 10/17/02 180 02109/04 r✓c 51 103.951000 50,000.00 51,975.50 1,306.25 370.10 2.15% 51,234.70 103.406250 51,703.13 MERRILL 1,975.50 1,234.70 5.225% FHLB 3133MRZCO 10/07/02 180 04/07/04 04107/03 173 100.000000 500.000.00 500,000.00 5,650.00 5,430.26 2.26% 500,000.00 100.000000 500,000.00 DUNCAN 2.260% FHLB ,3133MS5K2 10/15/02 180 04/15/04 04/15/03 165 100.000000 500,000.00 500,000.00 5,625.00 5,156.25 2.25% 500,000.00 100.031250 500,156.25 BANC ONE 2.250% FNMA 31359MMWO Oe2BM2 180 05/12/04 05/12/03 136 101.187500 500,000.00 505,937.50 9,375.00 7,187.50 2.04% 500.659.72 100.250000 501,250.00 Vining 5,937.50 659.72 3.750% FMAC 312924TX1 1214X11 180 05/20/04 n/c 130 99.312500 750,000.00 744,843.75 12,187.50 8,802.08 3.55% 747,688.60 102.167500 766,406.25 Merrill 5,156.25 (2,311.40) 3.250% FMAC !,312924TXI 12/1841 180 0520/04 1* 130 98.781250 500,000.00 493,906.25 8,125.00 5,868.06 3.79% 497,170.61 102.187500 510,937.50 Merrill 6.093.75 (2,829.19) 3.250% FHLB 7133MU5S0 12/17/02 160 06/17/04 06/17/03 103 100.000000 500,000.00 500,000.00 5,000.00 2.861.11 2.00% 500.000.00 100.187500 500,937.50 BANC ONE 2.000% FMAC 312925WNS 07/15/02 180 07/15/04 07/16/03 75 100.000000 607,000.00 607,000.00 9,863.75 4,109.90 3.25% 607,000.00 100.609375 610,698.91 Merrill 3,250% FFCB 31331OQM2 02X17103 160 06/09/04 06109103 53 100.0000 1,000,000.00 1,000,000.00 8,800.00 2,591.11 1.76% 1,000,000.00 100.218750 1.002,187.50 Wachovia 1.760% FHLB 3133MVR62 02/18/03 180 08116/04 OW18103 42 100.0000 500,000.00 500,000.00 4,050.00 945.00 1.62% 500,000.00 100.156250 500,781.25 Wachovia 1.620% FHLB 3133MViV5 02/18/03 160 08118/04 08/16103 42 100.0000 500,000.00 500,000.00 4,325.00 1,009.17 1.73% 500,000.00 100.218750 501,093.75 Wachovia 1.730% FHLB 3133MVR96 0220/03 160 0820X14 0520103 40 100.0000 500,000.00 500,000.00 4,275.00 950.00 1.71% 500,000.00 100.078125 500,390.63 Wachovia 1710% FHLB 3133MTZX9 12/10X12 160 09/10X14 09/10/03 110 100.000000 500,000.00 500,000.00 5,025.00 3,070.83 2.01% 500,000.00 100.375000 501,875.00 DUNCAN 2010% FHLB 3133MSPM6 1026102 180 1028X14 04/26103 152 100.000000 500,000.00 500,000.00 5,937.50 5,013.89 2.38% 500,000.00 100.078125 500,390.63 BANC ONE 2.375% FNMA 3136F2PM4 1029/02 160 11129/04 0429103 151 100.000000 500,000.00 500,000.00 6,250.00 5,243.06 2.50% 500,000.00 100.078125 500,390.63 NACHOVIA 2.500% FNMA 3136FIJ58 0522/02 160 1122104 0522103 128 100.000000 450,000.00 450,000.00 8,867.50 6.320.00 3.95% 450,000.00 100.390625 451,757.81 Memll 3.950% FNMA 3136F2VM7 12X18102 180 121O6/04 06/06/03 114 100.000000 500,000.00 500.000.00 8,125.00 3,879.17 2.45% 500,000.00 100.250000 501,250.00 MERRILL 2.450% �r FNMA 3136F2VW5 12X19/02 160 1209/04 12/09/03 111 100.000000 500,000.00 500,000.00 5,000.00 3,083.33 2.00% 500,000.00 100.562500 502,812.50 BANC ONE 2000% FHLB 3133MM8 12/13/02 160 12/13/04 06/13/03 107 99.968750 500,000.00 499,643.75 5,650.00 3,356.61 2.28% 500,000.00 100.218750 501,093.75 VINING - 2.260% FHLB '3133MDAT0 10/15X12 180 02/15/05 n/c 45 107.000000 500,000.00 535,000.00 13,437.50 3,359.38 2.28% 527,500.00 106.937500 534,687.50 MERRILL 35,000.00 27,500.00 5.375% FHLMC 3126XOGS2 11/13X12 180 05/13X15 06/13/03 137 100.000000 585,000.00 585,000.00 7,678.13 5,843.91 2.63% 585,000.00 100.171875 586,005.47 Merrill 2.625% FHLB 3133MVSZ7 0227103 160 0527/05 0527/03 33 100.0000 500,000.00 500,000.00 6,000.00 2.40% 500,000.00 100.187500 500,937.50 Wachovia 2,400% FHLB 3133MPDA1 08/14102 160 OW4X15 0624/03 g6 100.000000 550,000.00 550,000.00 8,250.00 4,400.00 3.00% 550,000.00 100.359375 551,976.56 Wachovia 3000% FFCB -31331OXE2 0326/03 160 0624/05 0924103 2 99.8750 775,000.00 774,031.25 7,982.50 2.06% 774,031.25 100.250000 776,937.50 Merrill 966.75 (988.75) 2.060% FHLB 13133MVDKB 012943 180 0729X15 0729103 61 100.0000 500,000.00 500,000.00 8,350.00 2.54% 500,000.00 100.453125 502,265.63 Wachovia 2.540% FHLB 3133MTF294 11/19102 180 08119X15 05/19/03 131 100.000000 500,000.00 500,000.00 7,500.00 5,458.33 3.00% 500,000.00 100.250000 501.250.00 Wachovia 3000% FHLB 3133MTRXS 1122102 180 0827105 0522103 128 100.000000 500,000.00 500,000.00 5,000.00 3,555.56 2.00% 500,000.00 100.125000 500,625.00 Wachovia Y000% FHLB 3133MGZL3 0820/02 180 062646 0628/03 32 102.643750 400,000.00 411,375.00 10,800.00 1-,920.00 2.56% 403.791.64 101.718750 406,875.00 Vining 11,375.00 3,791.84 5.400% TOTAL:, 19,207,000.00 19282,932.13 274,543.13 137,741.29 2.53% 19,250,587.31 19,357,543.44 23,417.75 99,996.13 43,587.31 Certificates of Deposits CD 0423102 365 0423103 n/s 342 100.000000 5,000.00 5,000.00 100.00 93.70 2.000% 5,000.00 100.0000 5,000.00 Lndmrk 2.000% Investment Pools LOGIC WA WA N/A WA WA 100.000000 58.12 58.12 WA N/A 1.2554% 58.12 100.0000 56.12 LOGIC Texpoo N/A WA N/A WA N/A 100.000000 16,619,411.91 16,619,411.91 N/A N/A 1.3472% 16,619,411.91 100.0000 16,619.411.91 Texpool FGIC N/A N/A N/A N/A N/A 100.000000 10.691,202.30 10,6g1,202.30 N/A N/A 1.1900% 10,691,202.30 100.0000 10,691.202.30 FGIC TOTAL: 27,310,672.32 27,310,672.32 1.2642% 27,310,672.32 27,310,672.32 0.00 0.00 0.00 TOTAL PORTFOLIO 46,622,672.32 46,598,604.45 274,643.13 137,834.99 46,566,259.63 46,673,215.76 23,417.75 99,9tY.13 43,597.31 City Irnesl As of June 30,2003 . "Market Prices Provided try Wachovia Securities Investment Type Institution LOGIC Local Govt Pool FNMA Fed.Nefl Mort.Assoc. FMAC Fed.Home Loan Mort Corp Wachovia Wachovia Securities FSW First Southwest LOGIC Local Govt Investment Coop. FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Vining Vining Sparks Merrill Merril Lynch FGIC Financial Investors Trust Texpoo Local Gov't Pool FHLB Fed.Home Loan Bank BancOne Banc One Capital Duncan Duncan Williams Texpool TEXPOOL Sarco Sarco Securities Southtrust Southtrust Bank Inv. Cusip Purchase Maturity Call Term Days Price Per Principal Interest Interest Yield To Book Market Market Seller Unanlorttred Coupon IY04 Numbet Oak DWO bete (in days) Accrue 9 Per stoo AND Invested ft mnCy Accrued Mato Jflt Value Pfo Vadum lnsl. Discount Premium PFCM4)isc flats U.S.GOVERNMENT AGENCIES Agency Coupon Notes FNMA 313WMKT9 0827101 08/15103 n/c 180 135 90.9020 500.000.00 499,510.00 10,000.00 7,500.00 4.0530% 500,000.00 100.375000 501.875.00 Merrill 4.000% FNMA 31359MKT9 04/12102 OWISM3 rJc 180 135 101.2813 890,000.00 901,403.13 17,800.00 13,350.00 3.0159% 890,712.69 100.375000 893,337.50 Merrill 11,403.13 712.69 4.000% FHLB 3133MJVZO 06/12102 11/14103 rvc 180 46 99.6250 500,000.00 498,125.00 6,250.00 1.597.22 2.7700% 499,558.84 100.531250 502,656.25 Vining 1,875.00 (441.16) 2.5001/6 FHLB 3133MJXD7 04/17102 12104103 Nc 180 26 98.9640 900,000.00 890,676.00 12.375.00 1,767.50 3.4071% 897,669.00 100.718750 906,468.75 Banc One 9.324.00 (2.331.00) 2.750% FHLB 3133WONI Ot12W02 01/26/04 me 180 154 104.5740 750,000.00 784,305.00 20,662.50 17,677.92 2.1987% 762,107.64 102.500000 768,750.00 Merrill 34,305.00 12,107.64 5.510% FHLB 3133WJVD 10/17/02 02)09104 n/c 180 141 103.9510 50,000.00 51,975.50 1,306.25 1,023.23 2.1501% 50,864.27 102.500000 51,250.00 Merrill 1,975.50 864.27 5.225% FMAC 3129247X1 12/14)01 0520104 0520/01 180 40 99.3125 750,000.00 744,843.75 12,187.50 2,708.33 3.5467% 748,222.00 101.937500 764,531.25 Merrill 5,156.25 (1,778.00) 3250% FMAC 3129247X1 1228101 0520/04 0520/02 180 40 98.7813 500,000.00 493,906.25 8,125.00 1,805.56 3.7861% 497,823.70 101.937500 509,687.50 Merrill 6,093.75 (2.176.30) 3.2501/6 FFCB 31331QXS1 04102103 07102/04 07/02/03 180 178 100.0000 500.000.00 500,000.00 3,900.00 3,856.67 1.5600% 500,000.00 100.000000 500.000.00 Duncan 1,560% FMAC 312926WN6 07/15/02 07/15/04 07/15103 180 165 100.0000 607,000.00 607,000.00 9,863.75 9,041.77 3.2500% 607,000.00 100.078125 607,474.22 Merrill 3.250/ FFCB 313310QL12 02)07103 O&ADWO4 09107/03 180 143 100.0000 1,000,000.00 1,000,000.00 8,800.00 6,991.11 1.7600% 1,000,000.00 100.078125 1,000.781.25 Wachovia 1.760% FHLB 3133MVR62 OVla103 OS/IW04 0911803 180 132 100.0000 500,000.00 500,000.00 4,050.00 2,970.00 1.6200% 500,000.00 100.076125 500,390.63 Wachovia 1.620% FHLB 3133MVfV5 02/1803 OW/8104 01/1803 180 132 100.0000 500,000.00 500,000.00 4,325.00 3,171.67 1.7300% 500,000.00 100.093750 500,468.75 Wachovia 1.730% FHLB 3133MTZX9 12/10102 09/10/04 09/10/03 180 20 100.0000 500,000.00 500,000.00 5,025.00 558.33 2.0107% 500,000.00 100.203125 501,015.63 DUNCAN 2.010% FHLB 3133K"85 04)01/03 10/01/04 10101/03 180 89 99.7500 1,000,000.00 997,500.00 7,100.00 3,510.56 1.5893% 998,500.00 100.125000 1,001,250.00 Duncan 2,500.00 (1,500.00) 1.420% FHLB 3133MXP29 04108103 1010804 07108103 180 82 100.0000 1,000,000.00 1,000,000.00 8,675.00 3,951.94 1.7350% 1,000,000.00 100.031250 1.000,312.50 Duncan 1.735% FHLB 3133MXSGS 04/1803 10/15/04 07/16/03 180 74 100.0000 500,000.00 500,000.00 4,562.50 1,875.69 1.8250% 500,000.00 100.062500 500,312.50 Vining 1.825% FHLB 3133M1'3HB 0429103 1029/04 0729103 180 81 100.0000 500,000.00 500,000.00 3.875.00 1,313.19 1.5500% 500,000.00 100.031250 500,156.25 FSW 1.550% FHLB 3133MYT23 05/1803 11/19/04 1111(1103 ISO 41 100.0000 500.000.00 500,000.00 3,582.50 811.46 1.4250% 500,000.00 100.140625 500,703.13 Duncan 1.425% FHLB 3133MYKK2 0522/03 1122/04 09122103 180 38 100.0000 500,000.00 500,000.00 4,250.00 897.22 1.70001/1 500.000.00 100.093750 500,468.75 Duncan 1.700% FNMA 3136F2VW5 12/09)02 12109/04 12/09/03 180 21 100.0000 500,000.00 500,000.00 5,000.00 583.33 2.0000% 500,000.00 100.421875 502,109.38 BANC ONE 2.000% FNMA 31359MOJ5 MW03 12/15/04 12/16/03 180 15 100.9390 500,000.00 504,695.00 4,687.50 390.63 1.26011/1 503,912.50 100.937500 504,687.50 Sarco 4,695.00 3.912.50 1.875% FHLB 31339XJF2 0623103 12/23/04 0923104 180 7 100.0000 500,000.00 500,000.00 3,500.00 135.11 1.4000% 500,000.00 100.078125 500,390.63 FSW 1. 00% FFCB 3133102R7 0827/03 1229/04 09/2903 180 3 100.0000 500,000.00 500,000.00 2,875.00 47.92 1.1500% 500,000.00 99.843750 499,218.75 FSW 1.150% OFHLB- 31339XTZ7 O6/JO)03 12/30/04 12/30103 180 0 100.0000 500.000.00 500,000.00 2,750.00 0.00 1.1000% 500,000.00 99.781250 498,906.25 FSW 1.1001/1 I FHLB 3133MX085 04/17/03 01/18105 07/18/03 180 72 100.0000 1,000,000.00 1,000,000.00 10,000.00 4,000.00 2.0000% 1,000,000.00 100.031250 1,000,312.50 Wachovia 2.000% N FHLB 3133MXQ85 04/17103 01/10/05 07/1803 180 72 100.0000 1,000,000.00 1,000,000.00 10,000.00 4,000.00 2.0000% 1,000,000.00 100.031250 1,000,312.50 Duncan 2.000% FHLB 3133MXTKS 0421)03 0121/05 0721103 90 69 100.0000 500,000.00 500,000.00 2,375.00 1,820.83 1.9000% 500,000.00 100.031250 500,156.25 Duncan 1,900% FHLB 3133MDATO 10/15102 02/15/05 vc 180 135 107.0000 500,000.00 535.000.00 13,437.50 10,078.13 2.2761% 523.750.00 106.562500 532,812.50 MERRILL 35.000.00 23,750.00 5.375% FFCB 31331OL62 0522103 0222105 08/22/03 90 38 100.0000 500,000.00 500,000.00 1,975.00 833.89 1.5800% 500,000.00 100.093750 500,468.75 Samco 1.580% FHLB 3133MYXW2 05/02103 03/02/05 09/02/03 180 28 100.0000 500,000.00 500,000.00 3,950.00 614.44 1.5800% 500,000.00 100.125000 500,625.00 DUNCAN 1.5801/1 FHLMC 3128XbZ28 04MM3 04)08)05 10/08(13 180 82 100.0000 500,000.00 500,000.00 5,000.00 2,277.78 2.0000% 500,000.00 100.281250 501,406.25 Wachovia 0000% FHLB 3133MXPB9 04/15)03 04/15/05 07/16/03 180 75 100.0000 1,000,000.00 1,000,000.00 10,650.00 4,437.50 2.1300% 1,000,000.00 100.031250 1,000,312.50 Vining 2.130% FHLB 3133M)(PW3 OSDW03 04/15105 07/15)03 180 75 100.093a 500,000.00 500.468.75 5,450.00 2,270.83 1.5724% 500,468.75 100.031250 500.156.25 Vining 468.75 466.75 2.180% FHLB 3133MWXEG 06/7803 04/15105 rvc 221 lie 100.7820 1,000,000.00 1,007,820.00 9,975.69 5,236.11 1.1899% 1,007,820.00 100.531250 1,005,312.50 SAMCO 7,820.00 7,820.00 1.625% FNMA 3135F3VY9 0527/03 0526/05 1126/03 179 33 100.0000 500,000.00 500,000.00 3,803.75 701.25 1.53001/1 500,000.00 100.125000 500,825.00 FSW 1.530% FHLB 31339XF82 06/17/03 06/17)05 09/17103 180 13 100.0000 500,000.00 500,000.00 4,375.00 315.97 1.7500% 500,000.00 100.156250 500,781.25 FSW 1.750% FFCB 31331QX44 0623/03 0623)05 0623104 180 7 100.0000 500,000.00 500,000.00 3,250.00 126.39 1.3000% 500,000.00 99.781250 498,906.25 VINING 1,3001/6 FFCB 3133/QXE2 0320/03 0624)05 0924/03 180 6 99.8750 775,000.00 774,031.25 7,750.00 258.33 2.05791/6 774,031.25 100.250000 776,937.50 Merrill 968.75 (968.75) -2.000% FHLB 31339XVFB 06410)03 06410)05 09/30/03 ISO 0 100.0000 500,000.00 500,000.00 3,450.00 0.00 1.3800% 500,000.00 99.890625 499,453.13 VINING 1.380% FNMA 3136F3ZU3 06/30/03 O6/J0105 09!30/03 180 0 99.9063 500,000.00 499,531.25 3,450.00 0.00 1.4277% 499.531.25 99.890625 499.453.13 DUNCAN 468.75 (468.75) 1.380% FHLB 3133MVDK6 0129103 0729/05 0729103 180 151 100.0000 500.000.00 500,000.00 6,350.00 5,326.94 2.5400% 500,000.00 100.125000 500,525.00 Wachovia 2.540% FNMA 3136F3PH3 0805/03 OW05/05 05/05104 ISO 55 100.0000 500,000.00 500,000.00 5,125.00 1,565.97 2.0500% 500,000.00 100.781250 503.906.25 Sarco 2.DSO% FHLB 3133MYAK3 05105003 OSM5/05 08/05/03 90 55 100.0000 500,000.00 500,000.00 2,787.50 1,703.47 2.2300% 500,000.00 100.125000 500,625.00 Sarco 2.2301/6 FNMA 3136F3WC6 06/02/03 12/02105 06102104 180 28 100.0000 1,000,000.00 1,000,000.00 8,750.00 1,361.11 1.7500% 1.000,000.00 100.265625 1,002,656.25 FSW 1.750% FHLB 3133MGZL3 0820102 08/2WW 0828/03 180 122 102.8438 400,000.00 411,375.00 10,800.00 7.320.00 2.5630% 400,947.91 100.703125 402,812.50 Vining 11,375.00 947.91 5.400% TOTAL: 28,122,000.00 28,202,165.88 308,211.94 141,806.32 1.8706% 28,162,919.80 28,245,858.69 26,386.50 107,042.38 40,919.80 Certificates of Deposits CD 0423)03 0423/04 nla 365 67 100 5,000.00 5,000.00 100.00 18.36 2.0000% 5,000.00 100.0000 6,000.00 Lndmrk 2.000% Imestmsnl Pools LOGIC WA WA N/A N/A N/A 100.0000 58.30 58.30 N/A N/A 1.1892% 58.30 100.0000 58.30 LOGIC Texpoo WA N/A N/A WA N/A 100.0000 11,238,887.95 11.236,687.95 N/A N/A 1.2734% 11.238,887.95 100.0000 11.238,887.95 Texpool FGIC N/A N/A N/A WA N/A 100.0000 10,169,678.40 10,169,678.40 N/A N/A 1.1300% 10,169,678.40 100.0000 10,169,678.40 FGIC TOTAL: 21,408,624.65 21,408,624.65 1.1975% 21,408,624.65 21,408,624.65 0.00 0.00 0.00 TOTAL PORTFOLIO 49,535,624.65 49,615,790.62 308,311.94 141,824.68 49,576,644.45 49,659,483.24 26,386.50 107,042.38 40,919.80 &Eule 3 I by Fund ' As of March 31,2003 Investment Type Institution LOGIC Local Gott Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp 1ST Union First Union Securities FSW First Southwest LOGIC Local Gov't Investment Coop. " FGIC Money Market Pool FFCB Fed.Far m Credft Bank CD Certificates of Deposit Vining Vining Sparks Merrill Merrill Lynch FGIC Financial Investors Trust T,expoo Local Gov't Pool FHLB Fed.Home Loan Bank BancOne Banc One Cap0al Everen Everen Securities Texpool TEXPOOL Duncan Duncan Williams LNDMRK Landmark Bank Cost Accrued /nv. Cusip Purchase Term Maturity Coil Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Market %of Lipo Numbs Pift (in days)Pilot QAJ2 Per 5100 YAW fPrin.Only) 91 maty, Int.ft Maty Maturity Rals Purchased Jn2l Discount Premium EAMd Value Portfolio wM Fund 101-GensnlFund FGIC WA 100.0000 222,015.50 222,015.50 222,015.50 1.19% FGIC 101 222,015.50 0.48% 0.00 Texpoo WA 100.0000 542,554.52 542,554.52 542,554.52 1.35% Texpool 101 542.554.52 1.1ON. 0.00 FHLB 3133MMGB3 03/14/02 384 04/08103 100.0000 1,000,000.00 1,000,000.00 27,733.33 1,027,733.33 2.60% 2.600% Banc One 101 1,000,312.50 2.14% 8.23 FHLB 3133MRZC9 10/07/02 540 04/07/04 04/07/03 100.0000 500,000.00 500,000.00 16,950.00 516,950.00 2.26% 2.260% DUNCAN 101 500,000.00 1.07% 5.79 FNMA 11359MMW0 082/002 614 05/12/04 06/12/03 101.1875 500,000.00 505,937.50 37,500.00 537,500.00 2.04% 3.750% 5,625.00 Vining 5,937.50 101 501,250.00 1.101/. 8.73 FMAC 3129247X1 12/14/01 876 0520/04 0620001 99.3125 750,000.00 744,843.75 60,937.50 810,937.50 3.55% 3.250% 1.625.00 Merrill 5,156.25 101 766,406.25 1.601/6 14.02 FHLB 3133MU5S0 12117/02 540 06/17/04 06/17/03 100.0000 500,000.00 500.000.00 15,000.00 515,000.00 2.00% 2.000% BANC ONE 101 500,937.50 1.07% 5.79 FMAC 312925WNB 07/15/02 720 07/15104 07/16003 100.0000 400,000.00 400,000.00 28,000.00 426,000.00 3.25% 3.250% Merrill 101 402,437.50 0.861/. 5.17 FFCB 31331OOM2 0207/03 542 08/09/04 08105003 100.0000 1,000,000.00 1,000,000.00 26,497.78 1,026,497.78 1.76% 1.7601% Wachovia 101 1,002,187.50 2.14% 11.62 FHLB 3/33MVR62 02/18/03 540 06/18/04 06/18/03 100.0000 500,000.00 500,000.00 12,150.00 512,150.00 1.62% 1.820% Wachovia 101 500,781.25 1.07% 5.79 FHLB 3133MVTV5 02/16/03 540 06/18/04 08118/03 100.0000 500,000.00 500,000.00 12,975.00 512,975.00 1.73% 1.730% Wachovia 101 501,093.75 1.07% 5.79 FHLB 3133MVR96 0220/03 540 0820/04 0520/03 100.0000 500,000.00 500,000.00 12,625.00 512,825.00 1.71% 1.710% Wachovia 101 500,390.63 1.07% 5.79 FHLB 3133MTZX9 12/10/02 630 09/10/04 09/10/03 100.0000 500.000.00 500,000.00 17,587.50 517,587.50 2.01% 2.010% DUNCAN 101 501,875.00 1.07% 6.75 FNMA 3138F2VW5 12009/02 720 12/09/04 12109/03 100.0000 500,000.00 500,000.00 20.000.00 520,000.00 2.00% 2.0001/. BANC ONE 101- 502,812.50 1.07/. 7.72 FFCB 31331OXE2 0326/03 810 0624/05 0924/03 99.8750 775,000.00 774,031.25 35,921.25 810,921.25 2.06% 2.080% 172.22 Merrill 968.75 101 776,937.50 1.66% 13.44 Subtotal 6,689.570.01 8.689,382.51 322,077.36 0,011,647.37 7,422.22 6,125.00 5.937.50 subtotal 8,721,991.69 18.65% 103.64 Fund 102-General Fund-Emergency FHLB 3133MVDKO 0129/03 900 0729/05 0729/03 100.0000 500,000.00 500,000.00 31,750.00 531.750.00 2.54% 2.540% Wachovia 102 502.265.83 1.07/. 9.65 Fund 103-General Fund Contingency FHLB 3133MVSZ7 02/27/03 810 0527/05 0527/03 100.0000 500,000.00 500,000.00 27,000.00 527,000.00 2.40% 2.400% Wachovia 103 500,937.50 1.07% 8.68 (p Fund 201-HoteYMotel FGIC WA 100.0000 150,263.80 160.263.80 160.263.80 1.19% FGIC 201 160.263.80 0.34% 0.00 F' Texpoo WA 100.0000 6.762.09 6,762.09 6,762.09 1.35% Texpool 201 6,762.09 0.01% 0.00 subtotal 167,025.89 167,025.89 0.00 167.025.89 0.00 0.00 0.00 subtotal 167,025.89 0.36% 0.00 Fund 210-Half Cent Operations Texpoo WA 100.0000 231,223.87 231,223.57 0.00 231,223.67 1.35% Texpool 210 231,223.67 0.50% 0.00 FGIC WA 100.0000 327,318.16 327,318.16 0.00 327,318.16 1.19% FGIC 210 327,318.16 0.70% 0.00 FHLB 3133MSSK2 10/15/02 540 04/15/04 04/15/03 100.0000 250,000.00 250,000.00 6,437.50 258,437.50 2.25% 2.250% BANC ONE 210 250,078.13 0.54% 2.119 Subtotal 808,541.83 808,541.83 8,437.50 616,979.33 0.00 0.00 0.00 subtotal 806,610.98 1.73% 2.89 Fund 211-Half Cent Reserve FGIC WA 100.0000 956,214.90 956.214.90 0.00 956,214.90 1AQ% FGIC 211 956,214.90 2.05% 0.00 Fund 220-Crime Control and Prevention FGIC WA 100.0000 0.00 0.00 0.00 0.00 1.19% FGIC 220 0.00 0.00% 0.00 Texpoo WA 100.0000 440,487.51 440,487.51 0.00 440,487.51 1.35% Texpool 220 440,487.51 0.94% 0.00 Subtotal 440,487.51 440,467.51 0.00 440,487.51 0.00 0.00 0.00 subtotal 440,487.51 0.94% 0.00 Ftlrid 230-Police DEA(Federal) FGIC WA 100.0000 131.413.69 131,413.69 131,413.69 1.19% FGIC 230 131,413.69 0.28% 0.00 Texpoo WA 100.0000 67,697.20 67,897.20 0.00 67,897.20 1.35% Texpool 230 67,897.20 0.15% 0.00 Subtotal 199.310.90 199,310.90 0.00 199,310.90 0.00 0.00 0.00 subtotal 199,310.90 0.43% 0.00 Fund 231-Police DEA(State). FGIC WA 100.0000 10,608.07 10.808.07 10,808.07 1.19% FGIC 231 10,808.07 0.02% 0.00 Subtotal 10.808.07 10.808.07 0.00 10.808.07 0.00 0.00 0.00 subtotal 10,808.07 0.02•/. 0.00 Fund 232-FTW DEA Took Fore* Texpoo WA 100.0000 6,592.59 6,592.59 0.00 6,592.59 1.35% Texpool 232 6,592.59 0.01% 0.00 FGIC N/A 100.0000 0.00 0.00 0.00 1.19% FGIC 232 0.00 0.00% 0.00 Subtotal 0,592.59 6,592.59 0.00 6,592.59 0.00 0.00 0.00 subtotal 6,592.59 0.01% 0.00 Fund 235 LLEBG 02 FGIC WA 100.0000 20,672.86 20,672.88 20.672.88 1.19% FGIC 234 20,672.88 0.04% 0.00 Texpoo N/A 100.0000 6,035.02 6,035.02 0.00 6,035.02 1.35% Texpool 234 6,035.02 0.01% 0.00 Subtotal 26,707.90 25.707.90 0.00 26,707.90 subtotal 26,707.90 0.06% 0.00 ®flll�lllg Euless ' Inv M by Fuld As of March 3 i,2003 Investment Type Institution ^" LOGIC Local Govt Pool FNMA Fed.Nafl Mort.Assoc. FMAC Fed.Home Loan Mort-Corp 1ST Union First Union Securities FSW First Southwest LOGIC Local Gov't Investment Coop. FGIC Money Market Pool FFCB Fed.Famr Credit Bank CD Certificates of Deposit Vining Vining Sparks Merrill Merrill Lynch FGIC Financial Investors Trust Texpoo Local Govt Pool FHLB Fed.Home Loan Bank BencOne Banc One Capital Everen Everen Securities Texpool TEXPOOL Duncan Duncan Williams LNOMRK Landmark Bank Cost Accrued -Inv. Cusip Purchase Term Maturity Call Price Par Book Value Interest Total Prim+ Yield To Coupon Interest Seller Market %of iYR£ Num bli Qatg fin daysl Di f4 Dgt2 Per St04 YAM (PgOnly) a maty Int a Maty Matu RM Purchased tag Discou Promiu Emad yahm Portfgllg WBM Fund 240-Car Rental Fund FGIC NIA 100.0000 155.781.71 155,781.71 155,781.74 1.4417. FGIC 240 155,781.71 0.33% 4.00 TOxpoo N/A 100.0000 0.00 0.00 0.00 1.35% Texpool 240 0.00 0.00% 0.00 FNMA 31359MKT9 04/12102 483 08/15103 101.2813 890,000.00 901,403.13 53,400.00 943.400.00 3.02% 4.000% 5,636.67 Merrill 11,403.13 240 897,370.31 1.94% 9.39 FHLB 3133M761,11 08!28/02 508 07!26104 104.5740 750,000.00 784,305.00 61,987.50 811,987.50 2.20% 5.510% 3,673.33 Merrill 34,305.00 240 776.250.00 1.69: 8.58 FMAC 3129247X1 12128101 862 05)10/04 06110/02 98.7813 500,000.00 493,906.25 40.625.00 $40,625.00 3.79`1 3.250% 1.715.28 Merrill 6.093.75 240 510,93750 1.06% 9.16 FMAC 312925WN6 07/15142 720 07/1504 07/16103 100.0000 207,000.00 207,000.00 13,455.00 220,465.00 3.25.1. 3.250% Merrill 240 208,261.41 0.44% 3.20 FNMA 3136FIJ68 0522102 goo 1122104 05/22103 100.0000 450,000.00 450,000.00 44.437.50 494,437.50 3.95% 3.950% Merrill 240 451,757.81 0.981/6 8.68 FHLB 3133MTVZ8 12113102 720 12/13104 OtJ13103 99.9688 500,000.00 499,843.75 22,600.00 522,600.00 2.28% 2.280% VINING 240 501,093.75 1.07% 7.72 FHLB 3133MGZL3 062442 1448 0826/06 0928/03 102.8436 400,000.00 411,375.00 97,200.00 497.200.00 2.56% 5.400% 10,320.00 Vining 11,375.00 240 406,875.00 0.90% 13.09 Subtotal 3.852,781.71 3.903,814.84 333.705.00 4,186,486.71 21.345.28 8,093.75 57,083.13 subtotal 3.008.327.50 8.41% 59.82 Fund 301-Developer's Escrow FdIC N/A 100.0000 59,475.06 59,475.06 69,175.08 1.10% FGIC 301 59,475.06 0.19% 0.00 Texpoo N 100.0009 615.461.37 8/5,481.37 815,481.37 4.35% Texpool 301 815,481.37 1.75% 0.00 /A FHLB 3133M55IA 10/15102 510 04!15/04 04/16103 100.0000 250.000.00 250,000.00 a,437.50 258,437.50 2.25% 2.250% BANC ONE 301 250,078.13 0.54% 2.89 Subtotal 1,124,956.43 1,124,956.43 8.437.50 1,133,393.93 0.00 0.00 0.00 subtotal 1,125,034.56 2.44'1. 2.89 Fund 30"traats CIP FGIC WA 100.0000 6,639,695.34 6,839,895.34 0.00 6,839,605.34 1.19% FGIC 305 6,839.895.34 14.86% 0.0 Texpoo N/A 100.0000 430,468.95 430,468.95 0.00 430,488.95 1.35% TEXPOOL 305 430,468.95 0.92% 0.00 FHLMC 312aX0GS2 11/1312 900 05/13105 06113103 100.0000 $85,000.00 585,000.00 36,390.63 623,390.63 263% 2.625•/. Memll 305 586.005.47 1.25% 11.29 Subtotal 7,655,304.29 7,855,364.29 38,390.63 7,893,754.91 0.00 0.00 0.00 subtotal 7.656,369.76 16.84% 11.29 Fund 310-Haff Cent CIP FGIC N/A 700.0000 75,2J6.48 75,276.46 0.00 75,276.46 1.197. FGIC 310 75.278.48 0.16% 0.00 N Texpoo WA 100.0000 303,571.05 303,571.05 303,571.05 1.35% Texpool 310 303.571.05 0.65% 0.00 Subtotal 378,647.53 378,847.53 0.00 378.847.53 000 0.00 0.00 subtotal 378,847.63 0.81% 0.00 Fund 320-G.O,CIP-Fin Station Taxpoo N/A 100.0000 24,451.88 24,451.60 24,451.88 1.35% Texpool 320 24,451.88 0.05% 0.00 Subtotal 24,451.88 24,451.88 24,451.88 0.00 0.00 0.00 subtotal 24,451.88 0.05% 0.00 Fund 325-Police Facility CIP FGIC WA 100.0000 25,991.37 25,991.37 0.00 28,901.37 4.19.1. FGIC 325 26,991.37 0.00% 0.00 32S 0.00 0.00% 0.00 Texpoo WA 100.0000 0.00 0.00 0.00 1.35% Texpool Subtotal 26,991.37 26,991.37 0.00 26.991.37 0.00 O.00 0.00 subtotal 28,991.37 0.06% 0.00 Furl 330-Car Rental CIP 7,000.21 1.19% FGIC 330 7,000.27 0.02%% 0. 00 FGIC N/A 100.0000 7,000.21 7,000.21 Texpoo N/A 100.0000 1,362.259.66 1,362,259.66 1,362,259.66 1.35% Texpool 330 1.362259.86 294% 0.00 2.94% Subtotal 1,369,259.87 1,369,259.87 0.00 1,369,259.87 0.00 0.00 0.00 subtotal 1,389.259.67 0.00 Fund 401-)SMService Texpool 401 905,597.08 1.94% 0.00 Texpoo N/A 100.0000 905,597.08 905,597.06 905,597.09 5.35% po FGIC N/A 100.0000 253,356.74 253,356.74 253,356.74 1.79•/. FGIC 404 253,358.74 0.54% 0.00 1,158,953.82 1,158,953.82 0.00 1,158,953.82 0.00 0,00 0.00 subtotal 1,158,953.82 2.48% 0.00 Subtotal Fund 402-Star Center Debt Service402 195.406.88 0.42% 0-00 Texpoo N/A 100.4000 195,44588 595,400.88 195.406.88 1.357. Texpool Subtotal 195,406.88 195,406.88 0.00 195,406.68 0.00 0.00 0.00 subtotal 795.408.86 0.42% 0.00 Fund 601-Water and Sewer 58.12 7.26% LOGIC 501 58.12 4.00`/, 0.00 LOGIC N/A 400.0000 58.12 58.12 51,080.51 7.19•/. FGIC 501 51,080.51 0.11% 0.00 FGIC N/A 100.0000 51,080.57 51,060.51 Texpoo NIA 100.0000 2,082,110.37 2,082,110.37 2,082,110.37 1.35% TEXPOOL 501 2,082,110.37 4.48% 0.00 FHLB 3133MJXD7 04/17,42 597 12104)43 08.94540 900.000.00 890,676.00 49,500.00 949,500.00 3.41% 2.750% 9.143.75 Banc One 9.324,00 501 908,437.50 1.93% 11.32 FHLB 3133M7JV9 10/17102 472 02/09/04 103.8510 50,000.00 51,075.50 3,918.75 53.918.75 2.15% 5.225% 493.47 MERRILL 1,975.50 501 51,703.13 0.11% 0.53 FNMA 3t36F2VM7 12)48102 720 12/05104 06106103 100.0000 500,000.00 500.000.00 24,500.00 524.500.00 2.45% 2.450% MERRILL 501 501,250.00 t O7Y: 7.72 FHLB 3733MOAT0 10/15102 640 02/15/05 107.0000 500,000.00 533,000.00 67,187.50 567,197.50 2.28% 6.375% 4,479.17 MERRILL 35,000.00 501 534,687.50 1.16% 9.72 Subtotal 4.083.249.00 4,110.900.50 145.706.25 4,228.355.25 14,116.39 9,324.00 36.975.50 subtotal 4.120.327.12 8.84.1. 2929 Fund 502-W&S CIP Euless � I ret by Fund � As of March 31,2003 Investment Type Institution LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp 1ST Union First Union Securities FSW First Southwest LOGIC Local Gov't Investment Coop. FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Vining Vining Sparks Merrill Merrill Lynch FGIC Financial Investors Trust Texpoo Local Govt Pool FHLB Fed.Home Loan Bank BancOne Banc One Capital Everen Everen Securities Texpool TEXPOOL Duncan Duncan Williams LNDMRK Landmark Bank Cost Accrued Inv. Cusip Purchase Term Maturity Call Price Par Book Value Interest Total Prin.+ Yiekf To Coupon Interest Salter Market %of Iy-m Numbs 9,0 (in day01 P_a14 0314 Per 5100 Value (Prin.Onlvl aMary Int.0 Mat'v Maturity Bait Purchased 1n33. - Discount Premium Fund Value PoMolio W9M FGIC WA 100.0000 198,108.97 198,108.97 198,108.97 1.19% FGIC 502 196,108.97 0.42% 0.00 Texpoo WA 100.0000 1,644,276.57 1,644,278.57 1,644,276.57 1.35% Texpool 502 1,644,278.57 3.53% 0.00 FNMA 31359MKT9 08/27M1 708 08/15/03 r1/c 99.9020 500,000.00 499,510.00 39,333.33 539,333.33 4.05% 4.000% 0.00 Merrill 502 504,140.63 1.07% 7.58 FHLB 3133MJVZ0 06/12/02 512 11/14/03 99.6250 500,000.00 498,125.00 18,750.00 516,750.00 2.77% 2.500% 937.50 Vining 1,875.00 502 503.359.38 1.07% 5.48 FHLB 3133MPDAI 0624/02 1080 0824/05 0624/03 100.0000 550,000.00 550.000.00 49,500.00 599,500.00 3.00% 3.000% 1st Union 502 551.976.56 1.ia% 12.74 Subtotal 3,392,387.54 3,390,022.54 107,583.33 3,499,970.87 937.50 1,875.00 0.00 subtotal 3,401,664.10 7.27% 25.80 Fund 606-Water Impact Fees Texpoo WA 100.0000 1,098,958.51 1,098,958.51 0.00 1,098,958.51 1.35% Texpool 505 1,098,958.51 2.36% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 0.00 1.19% FGIC 505 0.00 0.00% 0.00 FHLB 3133MTF29 11/19/02 990 08/19/05 06/19/03 100.0000 500,000.00 500,000.00 41.250.00 541,250.00 3.00% 3.000% Wachovia 505 501,250.00 1.07% 10.61 Subtotal 1,598,956.51 1,596,956.51 41,250.00 1,640,208.51 0.00 0.00 0.00 subtotal 1,600,206.51 3,43% 10.61 Fund 507-W&S Emergency FHLB 3133MTRX8 112202 990 0822/05 0522/03 100.0000 500,000.00 500,000.00 27,500.00 527,500.00 2.00% 2.000% Wachovia 507 500,625.00 1.07% 1061 Subtotal 500,000.00 500,000.00 27,500.00 527,500.00 subtotal 500.525.00 1.07% 10.61 Fund 508-Wastewater Impact Fees FGIC N/A 100.0000 166.892.92 166,892.92 166.692.92 1.19% FGIC 508 166,692.92 0.36% 0.00 Texpoo N/A 100.0000 319,727.88 319,727.88 319,727.88 1.35% Texpool 508 319,727.88 0.69% 0.00 FHLB 3133MSPM6 1028/02 720 1020/04 0428/03 100.0000 500,000.00 500,000.00 23,750.00 523,750.00 2.38% 2.375% BANC ONE 508 500,390.63 1.07% 7.72 Subtotal 986,420.80 986.420.80 23,750.00 1,010,170.80 0.00 0.00 0.00 subtotal 986,811.42 2.11% 7.72 Fund 510-Drainage I FGIC WA 100.0000 151,520.81 151,520.81 151.520.81 1.19% FGIC 510 151,520.81 0.32% 0.00 W Texpoo N/A 100.0000 474,461.05 474,461.05 474.461.05 1.35% Texpool 510 474,461.05 1.02% 0.00 Subtotal 625.981.86 625,981.86 0.00 625.981.86 0.00 0.00 0.00 subtotal 625.981.86 1.34% 0.00 Fund 511-Drainage CIP FGIC N/A 100.0000 331,681.83 331,681.83 0.00 331,681.83 1.19% FGIC 511 331,681.83 0.71% 0.00 Texpoo N/A 100.0000 786,304.37 768,304.37 788,304.37 1.35/. Texpool 511 788,304.37 1.69% 0.00 Subtotal 1,119,986.20 1.119,986.20 0.00 1,119,986.20 0.00 0.00 0.00 subtotal 1,119,986.20 2.40% 0.00 Fund 612-Drainage Reserve Texpoo WA 100.0000 231,119.00 231.119.00 0.00 231,119.00 1.35x/. Texpool 512 231,119.00 0.50% 0.00 Fund 520-Recreation Classes FGIC N/A 100.0000 136,711.58 136,711.58 0.00 136,711.58 1.19% FGIC 520 136,711.58 0.29% 0.00 Texpoo WA 100.0000 21,739.32 21,739.32 21.739.32 1.35% Texpool 520 21,739.32 0.05/. 0.00 Subtotal 158.450.90 158,450.90 0.00 156,450.90 0.00 0.00 O.DO subtotal - 158,450.90 0.34% 0.00 Fund 521-Arbor Daze FGIC WA 100.0000 179,522.45 179,522.45 0.00 179,522.45 1.19% FGIC 521 179,522.45 0.38% 0.00 Texpoo N/A 100.0000 70,911.15 70,911.15 0.00 70,911.15 1.35/. Texpool 521 70,911.15 0.15/. 0.00 Subtotal 250,433.60 250,433.60 0.00 250,433.60 0.00 0.00 0.00 subtotal 250,433.60 0.54% 0.00 Fund 530Softball World-Operaling FGIC N/A 100.0000 36,226.11 36,228.11 0.00 36,228.11 1.19% FGIC 530 36.228.1) 0.08% 0.00 Texpoo N/A 100.0000 403,546.70 403,546.70 0.00 403,546.70 1.35% Texpool 530 403,546.70 0,87% 0.00 CD 0423/02 365 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 444,774.82 444,774.62 100.00 444,874.82 0.00 0.00 0.00 subtotal 444,774.82 0.95/. 0.04 Fund 640-Golf Course Texpoo N/A 100.0000 0.00 0.00 0.00 1.35/. Texpool 540 0.00 0.00% 0.00 FGIC N/A 100.0000 0.00 0.00 0,00 1.19% FGIC 540 0.00 0.00% 0.00 Subtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 subtotal 0.00 0.00% 0.00 Fund 641-Golf CIP Texpoo WA 100.0000 150,202.70 150,202.70 0.00 150,202.70 1.35/. Texpool 541 150.202.70 0.32% 0.00 Fund 650-Parka at Texas Star Texpoo N/A 100.0000 51,240.17 51,240.17 0.00 51,240.17 1.35/. Texpool 550 51,240.17 0.11% 0.00 Euless Inv nt by Fund As of March 31,2003 Investment Type Institution LOGIC Local Govt Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp 1ST Union First Union Securities FSW First Southwest LOGIC Local Govt Investment Coop. FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Vining Vinirg Sparks Merrill Merrill Lynch FGIC Financial Investors Trust Texpoo Local Govt Pool FHLB Fed.Home Loan Bank BancOne Banc One Capital Everen Everen Securities Texpool TEXPOOL Duncan Duncan Williams LNDMRK Landmark Bank Cost Accrued Inv. Cusip Purchase Tenn Maturity Call Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Market %of TYg4 Int D914 (in days)DAto pliji Per 5100 Vahx (Prin.Only) ®mat,v IM.a Mafv Mgydd5( Rak Purchased [oat DlscouM Premium Eyp_Q Value Portfolio yy� Fund 552-Phase 11 Athletic Complex FGIC WA 100.0000 53,154.22 53,154.22 0.00 53,154.22 1.191/. FGIC 552 53,154.22 0.11% 0.00 Texpoo WA 100.0000 973,509.71 973,509.71 973.509.71 1.35% Texpool 552 973,509.71 2.09% 0.00 FNMA 3136F2PM4 10/29/02 720 1029/04 04/29/03 100.0000 500,000.00 500,000.00 25,000.00 525.000.00 2.50% 2.500% WACHO%AA 552 500,390.63 1.07% 7.72 Subtotal 1,526,663.93 1,526,663.93 25.000.00 1,551,863.93 0.00 0.00 0.00 subtotal 1,527,054.55 3.27% 7.72 Fund 601-Equipment Replacement FGIC WA 100.0000 92,569.62 92,569.62 92,569.62 1.19% FGIC 601 92,569.62 0.20% 0.00 Texpoo WA 100.0000 413,648.21 413,848.21 413,648.21 1.35% Texpool 601 413,648.21 0.89% 0.00 Subtotal 506,217.63 506,217.93 0.00 506,217.83 0.00 0.00 0.00 Subtotal 506.217.83 1.09% 0.00 Fund 610-Insurance FGIC WA 100.0000 0.00 0.00 0.00 1.191/6 FGIC 610 0.00 0.00% 0.00 Texpoo WA 100.0000 0.00 0.00 0.00 1.361/. Texpool 610 0.00 0.00% 0.00 subtotal 0.00 0.00 0.00 0.00 subtotal 0.00 0.00% 0.00 Fund 615-Risk Management FGIC WA 100.0000 47.447.38 47,447.38 47,447.38 1.19% FGIC 615 47,447.38 0.10% 0.00 Texpoo WA 100.0000 396,866.41 396,866.41 396.866.41 1.35% Texpool 615 396,866.41 0.65% 0.00 Subtotal 444,313.79 444,313.79 0.00 444,313.79 0.00 0.00 0.00 subtotal 444,313.79 0.95% 0.00 Furl 705-Drdlas Stars Escrow Reserve Texpoo WA 100.0000 2,159,098.31 2,159,998.31 2.159,998.31 115% Texpool 705 2.159,998 31 4.63% 0.00 TOTAL 46,522,672.32 46,698,604A5 1,140,087.67 47,662,769.89 43,821.39 0.00 23,417.75 99,996.13 TOTAL 46,673,215.76 100.00% 290.66 rP CityOf E Investmentb As of June 30,2003 Investment Type Institution _ LOGIC Local Govt Pool FNMA Fed.Nat'l Mort Assoc.FMAC Fed.Home Loan Mort.Corp Wachovia Wachovia Securities FSW First Southwest LOGIC Local Gott Investment Coop. FGIC Money Market Pool FFCB Fed.Farm Credit Bent CD Certificates of Deposit Vining Vining Sparks Merril Merrill Lynch FGIC Financial Investors Trust Texpool Local Govt Pool FHLB Fed.Home Loan Bank BancOne Banc One Capital Duncan Duncan Williams Texpool TEXPOOL Samco Samco Securities Southtrust Southtrust Bank Accrued Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of IYaa Numbe Daft Dai£ Datjj fin days)remaining Per 6100 Y911,14 (Prin.Only) 91)mar Int.9b Mafy Maturity Sada Purchased Blit Discount Premium Eslnd Yaluc Portfolio lyBm Fund 101-General Fund FGIC WA 100.0000 222,621.69 222,621.69 222,621.69 1.13% FGIC 101 222,621.69 0.45% 0.00 Texpool WA 100.0000 343,600.94 343,600.94 343,600.94 1.27% Texpool 101 343,600.94 0.69% 0.00 FMAC 3120247X7 12/74/01 0520/04 0520/01 876 320 99.3125 750,000.00 744,843.75 60,937.50 810,937.50 3.55% 3.250% 1,625.00 Merrill 5,156.25 101 764,531.25 1.50% 4.81 FFCB 313310X$1 04102/03 07/02/04 07/02103 450 362 100.0000 500,000.00 500,000.00 9,750.00 509,750.00 1.56% 1.560% Duncan 101 500,000.00 1.01% 3.64 FMAC 312925WN6 07/15/02 07/15/04 07/75103 720 375 100.0000 400,000.00 400,000.00 26,000.00 428,000.00 3.25/. 3.250% Merrill 101 400,312.50 0.81% 3.02 FFCB 31331OCM2 02107/03 09/09/04 OMOM3 542 399 100.0000 1.000,000.00 1,000,000.00 26,497.78 1.028,497.76 1.76% 1.760% Wachovia 101 1,000,781.25 2.01% 8.03 FHLB 3133MVR62 02/18/03 08/1804 08/18/03 540 406 100.0000 500,000.00 500,000.00 12,150.00 512,150.00 1.62% 1.620% Wachovia 101 500,390.63 1.01% 4.11 FHLB 3133MVM 02/16/03 06/18/04 08/18103 540 406 100.0000 500,000.00 500,000.00 12.975.00 512,975.00 1.73% 1.730% Wachovia 101 500.468.75 1.01% 4.11 FHLB 3133MTZX9 12/10/02 09/10/04 09/10103 630 430 100.0000 500,000.00 500,000.00 17,587.50 517,587.50 2.01% 2.010% DUNCAN 101 501.015.63 1.01% 4.33 FHLB 3133MXH85 04101/03 10/01/04 10101/03 540 451 99.7500 1,000,000.00 997,500.00 21,300.00 1,021,300.00 1.59% 1.420% Duncan 2,500.00 101 1,001,250.00 2.01% 9.06 FHLB 3133MXSG5 04/1=3 10/15/04 07/16/03 540 465 100.0000 500,000.00 500,000.00 13,667.50 513,687.50 1.83% 1.825/. Vining 101 500,312.50 1.01% 4.68 FHLB 3133MYT23 05/19103 11/19104 11/19/03 640 499 100.0000 500,000.00 500,000.00 10,687.50 510,687.50 1.43% 1.425/. Duncan 101 500,703.13 1.01% 5.02 FHLB i133MYKK2 0622103 1122104 1122/03 540 502 100.0000 500,000.00 500,000.00 12.750.00 512,750.00 1.701/6 1.700% Duncan 101 500,468.75 1.01% 5.05 FNMA 3136F2VW5 12M"2 12/09104 12/09103 720 519 100.0000 500,000.00 500,000.00 20,000.00 520,000.00 2.00% 2.000% BANC ONE 101 502,109.36 1.01% 5,23 FFCB 11331O2R7 0027/03 12/19/04 0921/03 542 539 100.0000 500,000.00 500,000.00 8,625.00 508,625.00 1.15/6 1.150% FSW 101 499,218.75 1.01% 5.43 FFCB 31331OXE2 0328103 0624/05 0924/03 a10 714 99.6750 775.000.00 774,031.25 35,021.25 810,921.25 2.06% 2.060% 172.22 Merrill 968.75 101 776,937.50 1.561/6 11.13 FNMA 3136F3ZU3 08/30/03 06/30105 09130103 720 720 99.9063 200,000.00 199,612.50 5,520.00 205,520.00 1.43% 1.380% DUNCAN 187.50 101 199,781.25 0.40% 2.90 Subtotal 9,191,222.62 9,192,410.12 294.399.03 9,485,611.65 1,797.22 9,812.50 0.00 subtotal 9.214,503.97 18.49% 80.55 Fund 102-General Fund-Emergency FHLB 3133MVDKO 012903 0729/05 0729/03 900 749 100.0000 500,000.00 500.000.00 31,750.00 531,750.00 2.54% 2.540% Wachovia 102 500,625.00 1.01% 7.54 Fund 103-General Fund Contingency tj FNMA 3136F3PH3 05/05/03 06/05/05 06/05/04 810 755 100.0000 500.000.00 500,000.00 23,062.50 523,062.50 2.05/. 2.050% Samco 103 503,906.25 1.01% 7.60 I Fund 201-HoteVAAotel UI FGIC N/A 100.0000 150,683.22 150,683.22 150,683.22 1.13% FGIC 201 150,683.22 0.30% 0.00 Texpool N/A 100.0000 0.00 0.00 0.00 1.27/. Texpool 201 0.00 0.00% 0.00 subtotal 150,683.22 150,883.22 0.00 150,683.22 0.00 0.00 0.00 subtotal 150,683.22 0.30% 0.00 Fund 210-HalfCent Operations Texpool N/A 100.0000 432,600.81 432.600.61 0.00 432,600.81 1.27/. Texpool 210 432,600.81 0.67/. 0.00 FGIC N/A 100.0000 327,811.14 327,811.14 0.00 327,811.14 1.13% FGIC 210 327,811.14 0.66% 0.00 Subtotal 760,411.95 760,411.05 0.00 760,411.95 0.00 0.00 0.00 subtotal 760.411.95 1.53% 0.00 Fund 217-Half Cent Reserve FGIC WA 100.0000 959,226.47 959,226.47 0.00 959,226.47 1.13% FGIC 211 959.226.47 1.93% 0.00 Fund 220-Crim Control and Prevention FGIC N/A 100.0000 0.00 0.00 0.00 0.00 1.13% FGIC 220 0.00 0.00% 0.00 Texpool WA 100.0000 61,470.12 61,470.12 0.00 61,470.12 1.27/• Texpool 220 61.470.12 0.12% 0.00 FNMA 3130F3ZU3 06/30/03 06/30/05 09/30/03 720 720 99.9063 300,000.00 299,718.75 8,280.00 308,280.00 1.43% 1.380% DUNCAN 281.25 220 299,671.88 0.60% 4.35 Subtotal 381,470.12 361.188.87 8,280.00 369,750.12 0.00 281.25 0.00 subtotal 361,141.99 0.73% 4.35 Fund 230-Polkas DEA(Federal) FGIC WA 100.00D0 131,772.50 131,772.50 131,772.50 1.13% FGIC 230 131,772.50 0.27% 0.00 Texpool WA 100.0000 68,132.28 68,132.28 0.00 68,132.28 1.27/. Texpool 230 68,132.29 414% 0.00 Subtotal 199,904.79 199,904.79 0.00 199,904.79 0.00 0.00 0.00 subtotal 199,904.79 6,40% 0.00 Fund 231-Police DEA(State) FGIC WA 100.0000 10,837.56 10,837.58 10,837.58 1.13% FGIC 231 10.837.56 0.02% 0.00 Subtotal 10.837.58 10,837.58 0.00 10,837.58 0.00 0.00 0.00 subtotal 10,837.58 0.02% 0.00 Fund 232-FTW DEA Task Force Texpool N/A 100.0000 4,906.39 4,906.39 0.00 4,906.39 1.27/. Texpool 232 4.906.39 0.01% 0.00 FGIC N/A 100.0000 0.00 0.00 0.00 1.13% FGIC 232 0.00 0.00% 0.00 Subtotal 4 906.39 4.906.39 0.00 4,906.39 0.00 0.00 0.00 subtotal 4 906.39 0.01% 0.00 Fund 235 LLEBG 02 FGIC N/A 100.0000 20,729.32 20,729.32 20,729.32 1.13% FGIC 234 20,729.32 0.04% 0.00 Taxpool N/A 100.0000 6,055.92 6,055.92 0.00 6,055.92 1.27% Texpool 234 6,055.92 0.01% 0.00 Subtotal 26,765.24 26,785.24 0.00 26,785.24 subtotal 26,785.24 0.05% 0.00 Cityof E _: , Investment d As of June 30,2003 dtatitution Inveetmerd TypeWchovia Wachovia 5acuritlea FSW First Southwest LOGIC Local Gov't Investment Coop. LOGIC Local Galt Pod FNMA Fed,NaCl Mort Assoc.FMAC Fed.Home Loan Mort.Carp a FDIC Money Market Pod FFCB Fed.Farm Credit Bant CD Cer86cates of Deposit Vining Vining Sparks Merrill Merrill Lynch FGIC Financial Investors Trust Texpool Local Govl Pool FHLB Fed.Home Loan Bank BancOne Boric One Capital Duncan Duncan Williams Texpool TEXPOOL Samco Samco Securities Southtnut Southtrust Bank Accrued illy Cualp Purchase Maturity Can Term Days Price Par Cost Interest Total Pnn.+ Yield To Coupon Interest Seller Market %of IM Numbe Of Data OA!t fin days) remaining P rS1 yalut (Prin Only) a macs Int 6 Mefv MaturilY SAL Purchased Ing Discou Prormu Fund Mug P414o114 W M Fund 240-Cor Rental Fund FGIC WA 100.0000 156,207.08 156.207.06 756,207.06 1.13% FGIC 240 156,207.06 0.31 Texpool WA 100.0000 18,700.50 78,700.50 78,700.50 1.27% Texpool 240 18,700.50 004% 000 001,403.13 53,400.00 943,400.00 3.02% 4.000% 5,636.67 Merrill 11,403.13 240 893,337.50 1.83% 0.82 FNMA 31359Mk?fl 04/12/02 08/15/03 483 45 701.2873 690,000.00 FHLB 3133M761,11 0828/02 01128fi4 508 206 104.5740 750,000.00 784,305.00 61,987.50 811,987.50 2.20% 5.510% 3,673.33 Me" 34,305.00 240 768.750.D0 1.59% 3.27 FMAC 312fl24TX1 12121001 0520104 06/20/02 862 320 98.7613 500,000.00 493,006.25 40,625.00 540,625.00 3.79% 3.250% 1,715.28 Merrill 6,003.75 240 509,687.50 1.00% 3.19 FMAC 372025WN6 07/15/02 07/15/04 07/75/03 720 375 100.0000 207,000.00 207,000.00 13,465.00 220,455.00 3.25% 3.250% Merrill 240 207,161.72 0.42% 1.56 FHLB 3133MVBD 04115/03 04/15105 07115103 720 645 100.0000 250.000.00 250,000.00 10,650.00 260.650.00 2.13% 2.130% Vining 240 250078.13 0,50% 3.25 FHLB 3133MXPW3 05/08/03 04/15/05 07/15103 697 645 100.0938 500,000.00 500,468.75 21,103.61 521,103.61 1.67% 2.180% 696.39 Vining 468.75 240 500,156.25 1.01% 6.51 FHLB 31337YRNX£8 O61t8/03 04115105 657 645 100.7820 1.000,000.00 1,007,820.00 29,65625 1,029,656.25 1.19.1• 1.625% 4.694.44 SAMCO 7,820.00 240 1,005,312.50 2.04% 13.15 FNMA 3136F3VY9 0527/03 0626M5 1126103 720 686 100.0000 500,000.00 500,00000 15,300.00 515,300.00 1.53% 1,530•/. FSW 240 500,625.00 7.01•/. 8,fl1 FHLB 31339)(F$2 08117/03 08117105 09111163 720 707 1 0000 300,000.00 300,000.00 10,500.00 310,500.00 1.76% 1.750% FSW 240 300,486.75 0 27 .60% 4. 240 402.812,50 41 FHLB 3133MGZL3 0820/02 0828106 0828/03 1448 7108 102.8438 5400,E.58 5531,18560 353,6007.30 5.825,784.02.00 497.200.00 2.50% 5.400•/. 26,73611 Vining 6,043.75 65.375.8 subtotal 5.513,297.40 110.59 5234 Subtotal Fund 3011-Devstopoes Escrow FGIC WA 100.0000 59,837.45 59,637.45 59,837,45 7.13•/. FGIC 301 58.637.45 012•. 000 Texpool WA 100.0000 1,018,997.25 1,018,997.25 1,018,997.25 1,27% Texpool 301 /,018997.25 245% 0.00 25 FHLB 3133MXPB9 04175/03 04/15MS 07116103 720 645 100.0000 13 8,6310 138,634 0 10,650.00 00 1330254.00 2.13% 2.130% 0 Vining 0 0.00 subtotal 7328301 712.82 2.88•!. 37813 0.50% 25 Subtotal Fund 305Strests CIPFGIC 305 6,398.017.67 12.88.1• 0.00 FGIC WA 100.0000 8,398,017.67 8,398.077.07 0.00 8,388,017.67 1.13.1. 100.0000 431,794.55 431,794.65 0.00 431,794.65 1.27% TEXPOOL 305 431,794.65 0.87% 0.00 Texpool WA13,77028 i FNMA 31359MOJ5 0528fi3 12/15/04 12/116103 557 525 100.9390 7500;0008 7.334.5070313) 13,770.26 7,343,582.60 1.26.1. ).780.1. 4,036.45 0.00 4,69500 subtotal 7,334,99.83 14.08% 5.38 Oti Subtotal Fund 310-Had Cant CIP 0.00 WA 100.0000 74.480.20 14,48020 0.00 74,460.20 7.13% FGIC 310 74,480.20 4.15/6 FGIC FGICof WA 100.0000 296,759.46 298,759.46 298,759.46 1.27% Texpool 310 298,759.46 0.50% 0.00 373,239.06 373,239.66 0.00 373,239.66 0.00 0.00 0.00 subtotal 373,239.66 0.75% 0.00 Subtotal Fund 320-G.O.CIP-Fire Station Texpool WA 700.0000 24,527.71 24,527.71 24.527.71 1.27•!. Texpool 320 24,527.71 0.0516 0. 00 24.527.71 24,527.71 24,527.71 0.00 0.00 0.00 subtotal 24,527.71 0.05% 0.00 Subtotal Fund 325-Police Facility CIPFGIC 325 27,065.0? 0.05% 0.00 FGIC NIA 0.,000 0 100.0000 2J.05 27,065.07 4.00 27,060.07 1.13% TexD� WA 100.0000 0 0,00 0.00 1.27'/. Texpool 325 0.00 0.00•/. 0,00 27,06547 27.06547 0.00 27,065.07 0.00 0.00 0.00 subtotal 27,065.07 005`1. 0.00 Subtotal Fund 330-Car Rental CIPFGIC 330 5,017.28 0.01% 0.00 FGIC WA 100.0000 5017.28 5017.28 5,017.28 1.13/0. Texpool N/A 100.0000 1,422,360.50 1,422,366.50 1,422,386.50 7.27•/. Texpool 330 7,422388.50 2.867. 0.00 330 200,062.50 0.40% 2.25 FHLB 3133MX085 04/77/03 011)8105 071)11/03 030 558 100.0000 1800;000.8 1627,403.78 7,000.00 1634 7,000,00 ,,00 2.00•!. 2.000.1. 0.00 Wachovia 0.00 0.00 subtotal 1,627,466.28 3.28% 2.25 Subtotal ) Fund 40!-Debt Service1 009,078.73 /.27% Texpool 401 1,009,078.73 2.031/6 0.00 Texpool WA 100.0000 1.009.078.13 1,009.076.73 100.0000 254,046.50 254.046.50 254,048.50 1.13% FGIC 407 254,048.50 0.51% 000 FGIC N/A 1,263,127.24 1,263,127.24 0.00 1,283.12724 0.00 000 0.00 subtotal 1,203.127.24 2.54. 00 Subtotal Fund 402Stor Center Debt Service 441106.32 1,27% Texpool 402 441,106.32 0.89% 0.00 Texpool WA 100.0000 441,106.32 44 .32 441,106.32 4411,106,106.32 0.04 441,106.32 D.00 0.00 0.00 subtotal 441,106.32 0.89'!. 0.00 Subtotal City of E Investment by As of June 30,2003 Investment Type Institution LOGIC Local Gov't Pool FNMA Fed.Nafl Mon.Assoc.FMAC Fed.Home Loan Mort.Cory Wachovia Wachovia Securities FSW First Southwest LOGIC Local Govt Investment Coop, FGIC Morley Market Pool FFCB Fed.Farm Credit Banl,CD Certificates of Deposit Vining Vining Sparks Merrill Merrill Lynch FGIC Financial Investors Tent Texpool Local Gov't Pool FHLB Fed.Home Loan Bank BaneOns Banc One Capital Duncan Duncan Williams Texpool TEXPOOL Samco Samco Securities SoutMrust Southtrust Bank Accrued Inv. Cusip Purchase Matuft Call Tenn Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Sailor Market %of im Number 06I9 0619 Dpi! (in days) remaining Peril yA11.11 (Pnn.Only) a maty Int.0 Mat Maturity RAW Purchased 109 Discoum PremiyID Fund Value Pordolb WAM Fund 501-Water and Sewer LOGIC WA 100.0000 56.30 58.30 58.30 1.19% LOGIC 501 56.30 0.00% 0.00 FGIC N/A 100.0000 51.219.98 51,219.98 51,219.98 1.13% FGIC 501 51,219.98 0.10% 0.00 Texpool WA 100.0000 82,914.74 82,914.74 82.914.74 1.27% TEXPOOL 501 82,914.74 0.17% 0.00 FHLB 3133MJXD7 04/17/02 12/04103 567 154 98.9840 900,000.00 890,676.00 49,500.00 949,500.00 3.41% 2.750% 9,143.75 Banc One 9,324.00 501 906,468.75 1.81% 2.79 FHLB 3133WJV9 10/17/02 02/09104 472 219 103.9510 50,000.00 51.975.50 3,916.75 53,918.75 2.15% 5.225% 493.47 MERRILL 1,975.50 501 51.250.00 0.11% 0.23 FHLB 3133MXP29 04/08/03 10/08)04 07/08!03 540 456 100.0000 1,000,000.00 1,000.000.00 26.025.00 1.026,025.00 1.74% 1.735/. Duncan 501 1,000,312.50 2.01% 9.22 FHLB 31339XJF2 0823/03 1223/04 0923104 540 533 100.0000 500,000.00 500,000.00 10,500.00 510,500.00 1.40% 1.400% FSW 501 500,390.63 1.01% 5.37 FHLB 3133MX085 04/17/03 01/10/05 07/117)03 630 558 100.0000 1,000,000.00 1,000,000.00 35,000.00 1,035,000.00 2.00% 2.000% Duncan 501 1,000,312.50 2.01% 11.24 FHLB 3133MDATO 10/15/02 02/15/05 640 585 107.0000 500,000.00 535,000.00 67,187.50 567,187.50 2.28% 5.375% 4,479.17 MERRILL 35,000.00 501 532,812.50 1.09% 6.35 FHLB 3133MYXW2 OB/02/03 03/02/05 09/02103 630 802 100.0000 500,000.00 500,000.00 13,625.00 513,925.00 1.58% 1.580% DUNCAN 501 500.825.00 1,01% 6.06 FHLB 31339XF82 06/17/03 06/17/05 09/17/03 720 707 100.0000 200.000.00 200,000.00 7,000.00 207,000.00 1.75/. 1.750% FSW 501 200,312.50 0.40% 2.85 Subtotal 4,764,193.02 4,811.644.52 212,956.25 4,097,149.27 14,116.39 9,324.00 36,975.50 subtotal 4,626.677.39 9.72% 44.11 Fund 502-W&S CIP FGIC WA 100.0000 198,649.86 196,649.88 196,649.66 1.13% FGIC 502 198,649.68 0.40% 0.00 Texpool WA 100.0000 746,643.70 746.643.70 746,643.70 1.27% Texpool 502 746,643.70 1.50% 0.00 FNMA 31359MKT9 0827/01 08/15)03 n/c 708 45 99.9020 500.000.00 499.510.00 39,333.33 539,333.33 4.05% 4.000% 0.00 Merrill 502 501,875.00 1.01% 0.45 FHLB 3133MJVZO 06/12102 11/14/03 512 134 99.6250 500,000.00 496.125.00 18,750.00 518,750.00 2,77% 2.500% 937.50 Vining 1.675.00 502 502.656.25 1.00% 1.35 FHLB 3133MX085 04/17103 01/16/05 07/16/03 630 558 100.0000 600,000.00 800,000.00 26,000.00 628,000.00 2.00% 2.000% Wachovia 502 800,250.00 1.61% 6.99 FFCB 31331QX44 0623/03 0623/05 0624/04 720 713 100.0000 500,000.00 500,000.00 13,000.00 513.000.00 1.30% 1.300% VINING 502 496,906.25 1.01% 7.18 Subtotal 3,245,293.58 3,242,928.58 99,083.33 3,344,376.92 937.50 1,875.00 0.00 subtotal 3,248,981.08 6.53% 17.97 Fund 605-Water Impact Fees Texpool WA 100.0000 279,642.66 279,642.68 0.00 279,642.68 1.27% Texpool 505 279.642.68 0.56% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 0.00 1.13% FGIC 505 0.00 0.00% 0.00 FHLB 3133MY3H8 0429/03 1029/04 072 500,00 9/03 540 479 100.0000 0.00 500,000.00 11,625.00 511,625.00 1.55/. 1.550% FSW 505 500,156.25 1.01% 4.62 FFCB 31331QL62 0522/03 0222/05 0822/03 630 592 100.0000 500,000.00 500.000.00 13,825.00 513,625.00 1.58% 1.580% Samco 505 500,468.75 1.01% 5.96 FHLMC 3128XOZ28 04/08/03 04/08105 10/08/03 720 638 100.0000 500,000.00 500.000.00 20,000.00 520,000.00 2.00% 2.000% Wachovia 505 501,406.25 1.01% 8.42 Subtotal 1,779,842.68 1,779,642.68 45,450.00 1.625.092.68 0.00 0.00 0.00 subtotal 1,781,673.93 3.58% 17.21 Fund 507-W&S Emergency FHLB 3133MYAK3 05)05103 06/05/05 08/05/03 810 755 100.0000 500,000.00 500,000.00 25,087.50 525,087.50 2.23% 2.230% Samco 507 500.625.00 1.01% 7.60 Subtotal 500.000.00 500,000.00 25,087.50 525,087.50 subtotal 500,625.00 1.01% 7.60 Fund 508-Wastewaler Impact Fees FGIC WA 100.0000 167,148.05 167,148.05 167,148.05 1.13% FGIC 508 167,148.05 0.34% 0.00 Texpool WA- 100.0000 320,834.67 320,834.87 320,834.87 1.27% Texpool 508 320,634.87 0.65% 0.00 FHLB 3133MXPB9 04/15/03 04/15/05 07/16/03 720 645 100.0000 500,000.00 500,000.00 21,300.00 521,300.00 2.13% 2.130% Vining 506 500,156.25 1.01% 6.49 Subtotal 987,982.92 987,982.92 21,300.00 1,009,282.92 0.00 0.00 0.00 subtotal 988.139.17 1.99% 6.49 Fund 510-Drainage FGIC WA 100.0000 151,934.52 151,934.52 151,934.52 1.13% FGIC 510 151,934.52 0.31% 0.00 Texpool WA 100.0000 14,767.47 14,787.47 14,787.47 1.27% Texpool 510 14,787.47 0.03% 0.00 FHLB 31339XTZ7 06/30/03 12/30/04 12/30/03 540 540 100.0000 500.000.00 500,000.00 6,250.00 508,250.00 1.10% 1.100% FSW 510 498,906.25 1.01% 5.44 Subtotal 666,721.99 666,721.99 6.250.00 674,971.99 0.00 0.00 0.00 subtotal 665,628.24 1.34% 5.44 Fund 51 t-Drainage CIP ) FGIC WA 100.0000 332,567.45 332,587.45 0.00 332,587.45 1.13% FGIC 511 332.587.45 0.67% 0.00 Texpool WA 100.0000 9,828.39 9,626.39 9,826.39 1.27% Texpool 511 9,828.39 0.02% 0.00 FHLB 3133OXVFB 06/30/03 06/30/05 09/30/03 720 720 100.0000 500,000.00 500,000.00 13.800.00 513,800.00 1.38% 1.380% VINING 511 499,453.13 1.01% 7.25 Subtotal 842,415.84 842,415.84 13,800.00 856,215.94 0.00 0.00 0.00 subtotal 841,866.97 1.70% 7.25 Fund 512-Drainage Reserve Texpool WA 100.0000 231,119.00 231,119.00 0.00 231,119.00 1.27% Texpool 512 231.119.00 0,47% 0.00 Fund 520-Recreation Classes FGIC N/A 100.0000 137,084.85 137,084.85 0.00 137,084.85 1.13% FGIC 520 137,084.65 0.28% 0.00 Texpool N/A 100.0000 92,050.95 92.056.95 92,058.95 1.27% Texpool 520 92,056.95 0.19% 0.00 Subtotal 229,141.81 229,141.81 0.00 229.141.81 0.00 000 0.00 subtotal 229,141.81 0.46% 0.00 city a Eu InvestestmentDy As of June 30,2003 In,ve*MwrV Type Inslitutlon LOGIC Local Gov't Pool FNMA Fed.Nall Mort.Assoc.FMAC Fed.Home Loan Mort.Corp Wachovia Wachovia Securities FSW First Southwest LOGIC Local Govt Investment Coop. FGIC Money Market Pool FFCB Fed.Farm Credit BeM CD Certificates of Deposit VIMng Vining Sparks Merrill Merrill Lynch FGIC Financial Investors Trust Texpool Local Govt Pool FHLB Fed.Home Loan Bank BancOne Bares One Capital Duncan Duncan Williams Texpool TEXPOOL Samco Samco Securities Southtrust Southtrust Bank Accrued Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of IY9a Numb* pato pair pats (in days) remaining Per 5100 Value (Prin.Onlvl at maty Int.a Maly Motu Batt Purchased IDeI(, Discount Premium Fund Value Portfolw yy� Fund 521-Arbor Daze FGIC WA 100.0000 102,872.82 102,872.82 0.00 102,872.82 1.13% FGIC 521 102,872.82 0.21% 0.00 Texpool N/A 100.0000 196,847.39 196,847.39 0.00 1911,647.39 1.27% Texpool 521 196,647.39 0.40% 0.00 Subtotal 299,520.21 299,520.21 0.00 299,520.21 0.00 0,00 0.00 subtotal 299,520.21 0.60% 0.00 Furl 5304oflball World-Operating FGIC WA 100.0000 36,327.03 36,327.03 0.00 36,327.03 1.13% FGIC 530 36.327.03 0.07% 0.00 Taxpool WA 100.0000 505,070.23 505,070.23 0.00 505,070.23 1.27/. Texpool 530 505,070.23 1.02% 0.00 CD 0423/03 04/23/04 365 293 100.0000 5,000.00 5,000.00 100.00 5,100.00 2.001/. 2.000% Southtrust 530 5,000.00 0.01% 0.03 Subtotal 1 546,397.28 546,397.26 100.00 546,497.26 0.00 0.00 0.00 subtotal 546,397.26 1.701/. 0.03 Fund 640-Golf Course Texpool WA 100.0000 0.00 0.00 0.00 1.27/1 Texpool 540 0.00 0.00% 0.00 FGIC WA 100.0000 0.00 0.00 0.00 1.13% FGIC 540 0.00 0.00% 0.00 Subtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 subtotal 0.00 0.00% 0.00 Fund 641-Golf CIP Texpooi WA 100.0000 0.00 0.00 0.00 0.00 1.27/. Texpool 541 0.00 0.001/. 0.00 Fund 550-Parks at Texas Star Texpool WA 100.0000 121,506.01 121,506.01 0.00 121,506.01 1.27/. Texpool 550 121,506.01 0.24% 0.00 Fund 552-Phan 11 Athletic Complex FGIC N/A 100.0000 53,299.35 53,299.35 0.00 53,299.35 1.13% FGIC 552 53,299.35 0.11% 0.00 Texpool WA 100.0000 35,755.13 35,755.13 35,755.13 1.27/. Texpool 552 35,755.13 0.07/. 0.00 1 FHLB 3133MXTK5 04/21/03 0121/05 07/21/03 630 581 100.0000 500,000.00 500,000.00 10.625.00 516.625.00 1.90% 1.900% Duncan 552 500,156.25 1.01% 5.85 00 FNMA 3136F3WC6 06/02/13 12/02/05 06/02104 900 872 100.0000 1,000,000.00 1,000,000.00 43.750.00 1,043,750.00 1.75% 1.750% FSW 552 1,002,856.25 2.01% 17.56 Subtotal 1,589,054.48 1,589,054.48 00,375.00 1,649,429.48 0.00 0.00 0.00 subtotal 1,591,868.98 3.20% 23.21 Fund 601-Equipment Replacement FGIC WA 100.0000 92,822.37 92.822.37 92,822.37 1.13% FGIC 501 92,822.37 0.19% 0.00 Texpool N/A 100.0000 405,026.14 405,026.14 405,026.14 1.27% Texpool 601 405,028.14 0.82% 0.00 Subtotal 497,84x.51 497,648.51 0.00 497,848.51 0.00 0.00 0.00 Subtotal 497,848.51 1.00% 0.00 Fund 610-Insurance FGIC WA 100.0000 0.00 0.00 0.00 1.13% FGIC 610 0.00 0.00% 0.00 Texpool WA 100.0000 0.00 0.00 0.00 1.27/1 Texpool 610 0.00 0.00% 0.00 subtotal 0.00 0.00 0.00 0.00 subtotal 0.00 0.00% 000 Fund 616-Risk Management FGIC WA 100.0000 47,575.93 47,576.93 47,576.93 1.13% FGIC 615 47,57693 0.10% 0.00 Texpool N/A 100.0000 448,303.63 446,303.63 448,303.63 1.27/. Texpool 615 448,303.63 0.90% 0.00 Subtotal 495,880.57 495,880.57 0.00 495,880.57 0.00 0.00 0.00 subtotal 495,880.57 1.00% 0.00 Fund 706-Dallas Stars Escrow Reserve Texpool WA 100.0000 2.166,634.05 2.166.634 05 2,166,634.05 1.27/. Texpool 705 2,166,634.05 4.361/1 0.00 TOTAL 49,535,624.65 49,615,790.62 1,229,181.25 50,764,805.90 47,623.68 26,386.50 107,042.38 TOTAL 49,659,483.24 100.80%292.64 City l Sehe,dubo hasn For April 2003 Investment Type, Institution LOGIC Local GoVI Pod FNMA Fed.Nat'l Mon.Assoc. FHLB Fed.Home Loan Bank FGIC Financial Investor: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 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 Q Inv. Cusip Purchase Tenn Maturity Call Price Par Book Value Interest Total Yield To Coupon Interest Seller Maty Net of Total Cost Ty»o. tlumbet Qats (in days) I( t 931111 Per$100 Value (Prin.Only 91)mat'y Prin+Int MaWdp( @glo Purchased (p§, Discount premium Fund Prem.Disc&Int P of investment FHLB 3133MXH85 04/01/03 640 10/01/04 10/01/03 99.7500 1.000.000.00 997,500.00 21,300.00 1,021,300.00 1.59% 1.420% Duncan 2,500.00 101 1.021,300.00 997,500.00 FFCB 313310XS1 04/02/03 450 07/02/04 07/02/03 100.0000 500,000.00 500,000.00 9,750.00 609.750.00 1.56% 1.560% Duncan 101 509,750.00 500,000.00 Texpool 04/03/03 100.0000 81,642.71 81.542.71 0.00 81.542.71 1.32% Texpool 402 81,642.71 81,542.71 FHLMC 3128XOZ28 04/08/03 720 04/08/05 10/08/03 100.0000 500,000.00 600,000.00 20,000.00 620,000.00 2.00% 2.000% Wachovia 605 620.000.00 600,000.00 FHLB 3133MXP29 04/08/03 640 10/08/04 07/08/03 100.0000 1,000,000.00 1,000,000.00 26,026.00 1,025,026.00 1.741/6 1.735% Duncan 501 1,026,025.00 1,000,000.00 Texpool 04/11/03 100.0000 1,600,000.00 1,600,000.00 0.00 1,600,000.00 1.27% Texpool various 1.500.000.00 1.500,000.00 FHLB 3133MXPB9 04/15/03 720 04/16/05 07/15/03 100.0000 1,000.000.00 1,000,000.00 42,600.00 1,042,600.00 2.131/6 2.130% Vining 240,301,608 1,042,600.00 1,000,000.00 FHLB 3133MXSO6 04/16/03 540 10/16/04 07/16/03 100.0000 600,000.00 600,000.00 13,687.50 513,687.50 1.83°/. 1.825% Vining 101 513,687,50 500,000.00 FHLB 3133MXQ85 04/17/03 630 01/18/05 07/15/03 100.0000 1,000,000.00 1,000,000.00 35,000.00 1,035,000.00 2.00% 2.000% Wachovia 330,502 1,035,000.00 1.000,000.00 FHLB 3133MX086 04/17/03 630 01/18/05 07/18/03 100.0000 1,000,000.00 1,000.000.00 36,000.00 1,035,000.00 2.00%s 2.000%. Duncan 501 1.035,000.00 1,000,000.00 FHLB 3133MXTK5 04/21/03 630 01/21/06 07/21/03 100.0000 600,000.00 500,000.00 16,626.00 516,626.00 1.90% 1.900% Duncan 652 516,625.00 500,000.00 FHLB 3133MY31-18 0429/03 540 10/29/04 07/29/03 100.0000 500.000.00 500,000.00 11,626.00 611,625.00 1.55%. 1.650% FSW 506 511,625.00 500,000.00 Texpool 04!30/03 100.0000 1,000.000.00 1,000,000.00 0.00 1,000,001.00 1.30% Texpool various 1,000,000.00 1.000,000.00 TOTALS: 10,081,642.71 10,079,042.71 231,612.60 10,313,165.21 1.71%. 0.00 2,500.00 0.00 10,313,156.21 10,079,042.71 LOGIC DIVIDENDS REINVESTED 0.08 0,06 0.05 0.06 TEXPOOL DIVIDENDS REINVESTED 14,386.07 14,388.07 14,386.07 14.386.07 FGIC DIVIDENDS REINVESTED 9,763.12 9,763.12 9,763.12 9,763.12 1 �IIA1AAlIAA Clty Schadule of rchaeas For May 2003 Investment Type Institution r LOGIC Local Govt Pool FNMA Fed.Nat'l Mort.Assoc. FHLB Fed.Home Loan Bank FGIC Financial 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 Memo Merrill Lynch LOGIC Local Gov't 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 Mat'y Net of Total Cost TYRO Numbe Qua (in days! gals PAW Per$100 Value (Prin.Only a maty Prin+IM maturity g012 Purchased WaL Discount Premium Ewid Prem.Disc 6 IM Pof Investment Texpool 06/01/03 100.0000 1,614,000.00 1,614,000.00 0.00 1,614,000.00 1.28% Texpool Various 1,514,000.00 1,514,000.00 Texpool 06/06/03 100.0000 81,642.71 81,542.71 0.00 81,542.71 1.26% Texpool Various 81,542.71 81.542.71 FNMA 3136F3PH3 06/)5/03 810 08/05/05 05/05/04 100.0000 600,000.00 500,000.00 23,062.60 623,062.50 2.05% 2.050% Samco 103 523,06250 500,000.00 FHLB 3133MYAK3 06/)5/03 810 08/05/05 08/03(03 100.0000 500,000.00 500.000.00 25,087.50 525,087.50 2.23% 2.230% Samco 507 525,087.50 600,000.00 FHLB 3133MXPW3 05/08/03 607 04/16/05 07/13/03 100.0038 600,000.00 500,468.75 21,103.61 521.103.61 1.67% 2.180% 696.30 Vining 488.76 240 519,938.47 601,156.14 Texpool 05/09/03 100.0000 1,700,000.00 1,700,000.00 0.00 1,700,000.00 1.26% Texpool Various 1,700,000.00 1,700,000.00 Texpool 06/13/03 100.0000 900,000.00 900.000.00 0.00 900.000.00 1.26% Texpool Various 000.000.00 900,000.00 FHLB 3133MYT23 05/19/03 540 11/19/04 11/19/03 100.0000 500,000.00 500,000.00 10,687.50 510,687.60 1.43% 1.425% Duncan 101 510,687.50 500,000.00 FHLB 3133MYKK2 0622/03 540 11/22/04 11/22/03 100.0000 500,000.00 500,000.00 12,750.00 512,750.00 1.70% 1.700% Duncan 101 612,760.00 500,000.00 FFCB 31331OL62 0522/03 630 0222/05 0822/03 100.0000 500,000.00 500,000.00 13,825.00 513,826.00 1.58% 1.580% Samco 505 513,825.00 500,000.00 FNMA 3136F3VY9 06/27/03 720 0526105 11/20/03 100.0000 600,000.00 600,000.00 15,300.00 615,300.00 1.53% 1.630% FSW 240 515,300.00 500.000.00 FNMA 31359MQJS 0528/03 557 12/15/04 12/18/03 100.0390 500,000.00 504,695.00 13,770.28 513,770.28 1.26% 1.780% 4,036.46 Samco 4,695.00 305 505.038.82 508.731.45 Texpool 05/30/03 100.0000 300,000.00 300,000.00 0.00 300,000.00 1.36% Texpool Various 300,000.00 300,000.00 (7 "TOTALS, 8,495,642.71 8,500,706.46 135,585.39 8,631,129.10 1.53% 4,732.85 0.00 5.163.75 8,621,232.50 8.505,439.31 LOGIC DIVIDENDS REINVESTED 0.05 0.06 0.06 0.05 TEXPOOL DIVIDENDS REINVESTED 14,832.01 14,832.01 14,832.01 14,832.01 FGIC DIVIDENDS REINVESTED 10,220.03 10,220.03 10,220.03 10.220.03 1 81lIAII18111181 city ScheduleMaaas For June 2003 Investment Type Institution LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mon.Corp Wachovia Wachovia Securities FSW First Southwest LOGIC Local Gott Investment Coop. FGIC Money Market Pool FFCB Fed.Farm Croda Bank CD Certificates of Deposit Vining Vining Sparks Merrill Merrill Lynch FGIC Financial Investors Trust Texpoo Local Gov't Pool FHLB Fed.Home Loan Bank Banton Banc One Capital Duncan Duncan Williams Texpool TEXPOOL Samco Samco Securities Southtrust Southtrust Bank Cost Accrued Total P+I @ Inv. Cusip Purchase Term Maturity Cali Price Par Book Value Interest Total Yield To Coupon Interest Seller Maty Net of Total Cost Iyp4 Number p td2 (in days l Date 2§19 Per$100 vAlut (Prin.Only 90 mat'v Prin+11S Maturity @;114 Purchased Inlit Discount Premium Eund Prem.Disc B Int Pof Investment FNMA 3136F3WC6 06/02/03 900 12/02/05 05/02/04 100.0000 1,000,000.00 1,000,000.00 43.750.00 1,043,750.00 1.76% 1.750% FSW 552 1,043,750.00 1,000,000.00 FHLB 3133MYXW2 06/02103 630 03/02/05 09/02/03 100.0000 600,000.00 600,000.00 13,825.00 513,826.00 1.58% 1.580% DUNCAN 601 513.825.00 600,000.00 Texpool 06109/03 100.0000 500,000.00 600,000.00 0.00 600,000.00 1.23% Texpool Various 600,000.00 600,000.00 Texpool 06/10/03 100.0000 760,000.00 760,000.00 0.00 760,000.00 1.22% Texpool Various 760.000.00 750,000.00 Texpool 06/12/03 100.0000 500,000.00 500,000.00 0.00 600,000.00 1.22% Texpool Various 500,000.00 500,000.00 Texpool 06/13/03 100.0000 1.000,000.00 1,000,000.00 0.00 1,000,000.00 1.22%e Texpool Various 1,000,000.00 1,000.000.00 FHLB 31339XF82 06/17/03 720 06/17/06 09/17/03 100.0000 600,000.00 600,000.00 17,500.00 617,600.00 1.75% 1.760°/ FSW 240,501 617,500.00 600,000.00 FHLB 3133MWXE6 06/18/03 657 04/15/06 100.7820 1,000,000.00 1,007,820.00 29,656.25 1,029,656.25 1.19% 1.625% 4,694.44 SAMCO 7,820.00 240 1,021,836.25 1,012.514.44 FHLB 31339XJF2 05/23/03 540 12/23/04 09/23/04 100.0000 500,000.00 500,000.00 10.500.00 610,600.00 1.40% 1.400% FSW 601 510,500.00 500,000.00 FFCB 31331OX44 06/23/03 720 06123(05 00/24/04 100.0000 600,000.00 500,000.00 13,000.00 613,000.00 1.30%. 1.300% VINING 602 513,000.00 500.000.00 FFCB 3133102R7 0627103 542 12/29/04 09/29/03 100.0000 600,000.00 600,000.00 8,625.00 608,626.00 1.15% 1.150% FSW 101 608.626.00 500,000.00 FHLB 31339XVFB 06/30/03 720 06/30/05 09/30/03 100.0000 500,000.00 500,000.00 13,800.00 513,800.00 1.38% 1.380% VINING 611 613,800.00 500,000.00 I FHLB 31339)CTZ7 06/30/03 540 12/30/04 12/30/03 100.0000 500,000.00 600,000.00 8,250.00 508,250.00 1.10% 1.100% FSW 610 508,250.00 500,000.00 J FNMA 3136F3ZU3 06/30/03 720 08/30/05 09/30/03 09.9063 500.000.00 499.531.26 13,800.00 513,800.00 1.43% 1.380% DUNCAN 468.75 220,101 513,800.00 499,531.25 TOTALS: 8,750,000.00 8,757,351.26 172,706.25 8,922,706.25 1.35% 4,694.44 468.76 7.820.00 8,914,886.25 8,762.045.69 LOGIC DIVIDENDS REINVESTED 0.05 0.06 0.06 0.06 TEXPOOL DIVIDENDS REINVESTED 13,172.49 13,172.49 13.172.49 13.172.49 FGIC DIVIDENDS REINVESTED 8,492.95 8,492.96 8,492.95 8.492.95 TOTAL INCLUDING DIVIDENDS: 8,771,665.60 8,779.016.75 172,706.25 8.922,706.26 8,936.551 75 8,783,711.19 city a _ Schedule aiss ` For April 2003 Investment Type Institution rr LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FHLB Fed.Home Loan Bank FGIC Financial Investors Trst FSW First Southwest LNDMRK Landmark Bank FGIC Money Market Pool FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mort.Corp. Vining Vining Sparks Merrill Merrill Lynch LOGIC Local Govt Investment Cooperative SLMA 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(� Im. Cusip Purchase Mafy/Cell Maturity Cell Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Maty or call Net of Total Cost Im Numbef Qata (in days) QAW Qlt@ Per 5100 Vslue (Prin.Only) a me y/Call Int @ Maf app( Bak Purchased tog 'Discount Premium Eyipd Prem d Int Pur, of Investment Texpool 04/01/03 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 1.33% Texpool various 1,000,000.00 1,000,000.00 Texpool 04/02/03 100.0000 500,000.00 500,000.00 0.00 500,000.00 1.30% Texpool various 500.000.00 500,000.00 FHLB 3133MRZCO 10/07/02 540 04/07/04 04/07/03 100.0000 500,000.00 500,000.00 16,950.00 516,950.00 2.26% 2.260% DUNCAN 101 516,950.00 500.000.00 FHLB 3133MMGB3 03/14/02 384 04/08/03 n1c 100.0000 1,000,000.00 1,000,000.00 27,733.33 1,027,733.33 2.60% 2.600% Banc One 101 1,027,733.33 1,000,000.00 Texpool 04/08/03 100.0000 600,000.00 600,000.00 0.00 600,000.00 1.28% Texpool various 600,000.00 600,000.00 Texpool 04/15/03 100.0000 500.000.00 500,000.00 0.00 500,000.00 1.32% Texpool various 500,000.00 500,000.00 FHLB 3133MS5K2 10/15)02 540 04/15/04 04/15/03 100.0000 500,000.00 500,000.00 18,875.00 516,675.00 2.25% 2.250% BANC ONE 210.301 516,675.00 500,000.00 Texpool 04/16/03 100.0000 1,000,000.00 1,000,000.00 0.00 1.000,000.00 1.26% Texpool various 1,000,000.00 1.000,000.00 Texpool _ 04/17/03 100.0000 2,000,000.00 2.000,000.00 0.00 2,000,000.00 1.23% Texpool various 2,000,000.00 2 000,000.00 Texpool 0421/03 100.0000 500,000.00 500,000.00 0.00 500,000.00 1.22% Texpool various 500,000.00 500,000.00 Texpool 0422/03 100.0000 300,000.00 300,000.00 0.00 300,000.00 1.24% Texpool various 300,000.00 300,000.00 FHLB 3133MSPM6 10/18/02 720 1028/04 0428/03 100.0000 500,000.00 500.000.00 23.750.00 523,750.00 2.38% 2.375% BANC ONE 508 523,750.00 500,000.00 FNMA 3136F2PM4 1029102 720 1029/04 0429/03 100.0000 500,000.00 500,000.00 25,000.00 525,000.00 2.50% 2.500% WACHOVIA 552 525,000.00 500,000.00 TOTAL 9,400,000.00 9,400,000.00 110,308.33 9,510,306.33 1.70% 0.00 0.00 0.00 9,510,308.33 9,400,000.00 City Schedub o rubs ' For May 2003 Investment Type Institution it LOGIC Local Gott Pod FNMA Fed.Nat'l Mort Assoc. FHLB Fed.Home Loan Bank FGIC Financial Investors Trst FSW First Southwest LNDMRK Landmark Bank FGIC Money Market Pod FFCB Fed.Farm Credit Bank FMAC Fed.Home Loan Mort.Corp. Vining Vining Sparks Merrill Merrill Lynch LOGIC Local Gov't Investment Cooperative SLMA Student Loan Mort.Ass". 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 Maty/Call Maturity Call Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Sailer Maty or call Net of Total Cost 1YR2 Numbs t Oak (in days) Dilq Dws Per 5100 Velue (Prin.Only) 411 mafvecall Int.,®MwfV Maturity Bak Purchased 11hi, Discount Premlum Irl Prem 3 Int Pur of Investment Texpool 05)05/03 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 1.26% Texpool various 1,000,000.00 1,000,000.00 Texpool 05/06/03 100.0000 800,000.00 800,000.00 0.00 800,000.00 1.20% Texpool various 800,000.00 600,000.00 Texpool 05108103 100.0000 500.000.00 500,000.00 0.00 500,000.00 1.26% Texpool various 500,000.00 500,000.00 FNMA 31359MMW0 082402 614 05/12/04 0)1/12)03 101.1875 500.000.00 505,937.50 37.5110.00 537,500.00 2.04% 3.750% 5,625.00 Vining 5,937.50 101 525,937.50 511,562.50 FHLMC 3128XDGS2 11/13/02 900 05/13105 05/13/03 100.0000 585.000.00 585,000.00 38,390.63 623,390.63 2.53% 2.625% Merrill 305 623.390.63 585,000.00 FHLB 3133MTF294 11119/02 990 08/19/05 05/18/03 100.0000 500,000.00 500,000.00 41,250.00 541,250.00 3.00% 3.0001/. Wachovb 505 541,250.00 500,000.00 FHLB 3133MVR96 0220103 540 0820x04 0620/03 100.0000 500,000.00 500,000.00 12,825.00 512,825.00 1.71% 1.710% Wachovia 101 512.625.00 500,000.00 FHLB 3133MTRXS 1122/2 990 0822/05 0622/03 100.0000 500,000.00 500,000.00 27.500.00 527.500.00 2.00% 2OW% Wachovia 501 527,500.00 500,000.00 FNMA 3136FIJ68 0522102 900 1122104 0522/03 100.0000 450,000.00 450.000.00 44,437.50 494,437.50 3.95% 3.950% Merrill 240 494.437.50 450.000.00 Texpool 0523/03 100.0000 250,000.00 250,000.00 0.00 250,000.00 1.26% Texpool various 250.000.00 250.000.00 FHLB 3133MVSZ7 0227/03 810 0527105 0527/03 100.0000 500,000.00 500,000.00 27,000.00 527,000.00 2.40% 2.400% Wachovia 101 527,000.00 500,000.00 Texpool 0528/03 100.0000 500,000.00 500,000.00 0.00 500,000.00 1.301/. Texpool various 500,000.00 500.000.00 17 FGIC 0528/03 100.0000 550,000.00 550,000.00 0.00 550,000.00 1.13% FGIC various 550,000.00 550,000.00 1 Ut TOTAL 7,135,000.00 7,140,937.50 228,003.13 7,303,903.13 1.93% 5,625.00 0.00 5,937.50 7.352.340 63 7,146,562.50 d o Schedule arthes For June 2003 InvestmentTypo Institution LOGIC Local Govt Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Wachovia Wachovia Securities FSW First Southwest LOGIC Local Gov't Investment Coop. FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Vining Vining Sparks Merrill Merrill Lynch FGIC Financial Investors Trust Texpoo Local Gov't Pool FHLB Fed.Home Loan Bank BencOne Banc One Capital Duncan Duncan Williams Texpool TEXPOOL Samco Samco Securities Southtrust Southtrust Bank Term to Cost Accrued Total P+I Q Im, Cusip Purchase Mat'y/Call Maturity Cell Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Maty or call Net of Total Cost Iy2g Number DjM2 fin days) Da14 PJtta Per 5100 Value (Prin.Only) 65 Mary/Call IM.ft Mat'v Maturity $glgi Purchased t02L 'Discount Premium Fund Prom&Int Pur. of Investment Texpool 06/02/03 100.0000 1,500,000.00 1,500,000.00 0.00 1,500,000.00 1.26% Texpool various 1.500,000.00 1,500,000.00 Texpool 06/03/03 100.0000 300.000.00 300,000.00 0.00 300,000.00 1.20% Texpool various 300,000.00 300,000.00 FNMA 3136F2VM7 12106/02 720 12/OMD4 06/06103 100.0000 500,000.00 500,000.00 24,500.00 524,500.00 2.45% 2.450% MERRILL 507 524,500.00 500,000.00 FHLB 3133MTVZ8 12/13/02 720 12/13/04 06/13/03 99.9688 500.000.00 499,043.75 22,600.00 522,600.00 2.28% 2.260% VINING 240 522,600.00 499,843.75 FHLB 3133MU5S0 12/17/02 540 06/17/04 06/17103 100.0000 500,000.00 500.000.00 15,000.00 515,000.00 2.00% 2.000% BANC ONE 101 515.000.00 500,000.00 Texpool 06/17/03 100.0000 500,000.00 500,000.00 0.00 500,000.00 1.221/. Texpool various 500,000.00 500.000.00 Texpool 06/18/03 100.0000 1.000,000.00 1,000,000.00 0.00 1,000,000.00 1.22% Texpool various 1,000,000.00 1,000,000.00 Texpool 06/23/03 100.0000 1.000,000.00 1,000,000.00 0.00 1,000,000.00 1.20% Texpool various 1,000.000.00 1,000,000.00 FHLB 3133MPDAl 08/24/02 1080 0624/05 06124103 100.0000 550,000.00 550.000.00 49,500.00 599,500.00 3.00% 3.000% 1st Union 502 599.500.00 550,000.00 Texpool 06/30103 100.0000 1.500.000.00 1,500,000.00 0.00 1,500,000.00 1.20% Texpool various 1,500.000.00 1,500.000.00 TOTAL 7,850,000.00 7,849,843.75 111,500.00 7,961,600.00 1.70% 0.00 0.00 0.00 7,961,600.00 7,849,843.75 n ■ ! Via#@#kmmn@�#Rq■Rmm4ga��■#am■||pan###���■%#a § }■■20§■■a-m§)§ ""�§ §§( §2■�mk■| § B § k / f ■ � # # ' ) \ a s a « a , k q m■ ■ @ 2 � a # § ■ ■ n# @ a ! � a a \ / . k � a a k\ \ \ a a ) § § k § \ a a a ■ B k { 2 s E % § / R a \ 2 � � # @ # | # ■«88 ""8 "1 "a "1 4;z"8-71 ;z a8 '"«#@mk@|82,8"8;g�8 8 m ##°GKK |m� §§3 �!m a!'e�■a §m§ |[ ! � maqn. .a� .@■«*namm#°°aa■#ssa .@emgq§f||n§a@Ba 9 °°°!#k°&§k � \ 2m■ B2 �!e§� n ! ;■ 2ke B(, G� � \ \ §@§k2;n!§a!!A■;N■■■§!A§■■k■!a2■§Bala§§■■!r2 \ ] J D-1 \