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Home My WebLink AboutFY 2005 Annual Investment Report At - ^`T rr...�•rIr Minutes- 12!9/05 Special Investment Committee Meeting Members: Gary McKamie, Deputy City Manager Loretta Getchell, Assistant City Manager Vicki Rodriquez, Finance Administrator Bill Ridgway, Director of Economic Development Mary Lib Saleh, Mayor Committee members present included, Mayor Saleh, Bill Ridgway, Gary McKamie, Loretta Getchell, and Vicki Rodriquez. The committee met to discuss the depository contract. Loretta Getchell reported that the president of First National Bank Mid-cities, Bobby Crews, had left the bank. Our current depository contract will expire in March 2006. The city currently has the option to renew the contract on an annual basis, up to March 2008, at which time the city would be required to re-bid these services. Loretta Getchell reported that under the current contract, the city is not required to pay any fees associated with banking or collateral services provided by the bank. Although the bank has had some staffing changes, the city continues to receive exceptional service. Loretta reported that Vicki had contacted the bank representative to discuss their desire to continue our relationship under the current contract. The city received a written response from the bank stating that they would like to continue our relationship and will honor the original bid terms. The committee discussed the fees associated with the original bids which ranged from 15,600 to over $25,000, with the exception of First National Bank Mid-Cities which bid zero for all their services . Loretta also reported that the bank currently provides $1,500,000 in U.S. government securities, in addition to $100,000 FDIC insurance, as collateral on the cities deposits, at no cost to the city. These securities are held by a third-party, TIB (The Independent Bankers Bank), in the cities name. This collateral far exceeds the city's daily balances which range from $200,000 to$500,000. Bill Ridgway made a motion that the investment committee recommend renewal of the current bank depository with First National Bank Mid-Cities. The motion was seconded by Mayor Saleh. The motion was approved by the committee. The Committee also discussed the bank's desire for the city to look at other types of collateral for the city's deposits. After further review of the depository contract and the city's investment policy, Gary McKamie recommended that the city continue to require the current collateral as required by our policies. The rest of the committee members concurred. Bill Ridgway motioned to adjourned the committee meeting. Gary McKamie seconded. Meeting was adjourned. 14 APPENDIX Or5 o - 4NN0 NON o o m A Nei N 66 No ei o m in A me Nr A98 W) $is 0 �8 � ��gsoR ��8A Sid 88 X388 R Rfi s8g �a g Nig r v Pl N r.W$ .Q.'Fv.a..NQ 0 8 82 R ., > gvi� �aSj Y CJ� Ny� OyN ppp , n pQ pq�!N N8 pgN gg S5pH�p $p8 p n C9 Sap 8 s n $ fog n B�Su� �xi�f d dS 10 T 8 N N vi K-iN- S z5 J n4ZS�i>4Z4SjSpS Z2(7Z9! jjz 4 �5 E 3FZEi�pna�cgt <�ag� pp {$4� ;• QLL V=LL=`= = LL4LL_-52 GC[ LL S _SLL<�7 Z� ¢LL <¢S O- 7 N� ¢ ZZZ ZZ ca 7 ]P H ¢w j U` Z� N Z Q fA¢OZ O $ w pU U�UWp � 5� w rd > >wy p S > >w wp5 ��$ < < < < 3 0 03 � ' 3 3 3< 3 0 U 30 30� 0��< 3 =62 88888888888888888888888888888888888888888888888'8888888888888888$ g�g�g�g�g�g�g�g�S�8�p�s�s�yss�m�g��asys8.s�g� �gg��Q�8g�m�8��g�s��gQ��s�8g�g��8g�s�� gg�a {��c P gYi V gV gO d�3@QP lQ7O V Yb@ol7QQ�7ii 'QN'SQ�d yqY� @yQ0�0 i$Yj0 Yn1 @ @ V QQ @8 @ V Qdi @2 V O V i EMU sE gg g gg gggg gg 988 98,8 9 88,g 8gg 9999 g gg 9S g NE 0 0 989 8 p p p p p 88 p 1Zp 88Xo p p p p p p up 98888888888828 p So p N8p p p p mp y p EAp p p p p 0 p p Qp 8 NN 05664N46 m * NES? sS8388Fi8S'8��1$��S3S"S"8Slt088��8s4sf� �s8�3��RSi�Si�88��S1889MPEP968��8�5 doh vi vi viddei vi vi dci� �N�� c��n�vvo�.-o vi vi�ovi�NN �onvr:e�v ui6N� Devi d i� 888 8888i8g88888888�M8888888888888888�818�88�8�8888888�8R8g 88g8s888�88�a188e8gg888ia9 s 9 g�mngIRRRo i g vvvnO O e m dua � e�v 0 N a is d d d e N d dui vi n ui N cad a K,6K i dedaao�mm-0 dui�rimdvdrindviRdda¢'3 �i 888 P8888888888888E8F!8888$88188888888888188888E,id881888888888888888 C6 CL 8� gggnnsgg $s00 ssgg � �� 888 88888888888888888888888888888888888888888888888888888888888888888 8n s pg m 8s 988888898988898998888899998888.88888898899999988989989989989988no8 4 a S U� qq pppp e� �Ny bN mm Cp �p oo aa (Ny y�♦y� m p y T e�e�e�(� e�^^�Ny p ((��((yy ee�� p o p p p y�ma (� pO J QW S Q m 44., O O O O O O O O O O O O O O O O O O O O ..... OOOO `y�Yx m�F FS$ $F Fmmm8�� 4� YFS3F � $� 8�8��m$m�m8$gmm��g�m�$538 age N 11 ~g IM p q g LL�LL pp �q RR �j log 8 oSoSS6S6 ^ ssSsSss238g6S68gg ��'�rs� a g MNO gonnoS966666 tsS o§8 51 5'� 3Sb :10-5.Sb 1_1 81`roo-8og -S g B' i gag a LL nIM Fo O M a <0 0 OM9009SWOONO a O...O o n 0 O O f N i n N NN� n�n�w r-�m Pn �i p �'�� 0x < m wx>8z �LLY9 Sz $ xFFO 099 0 MOM �" � ��N� 15 95 "� BGGamm°�� oo °p � 'S�mZ�=So 99 9 i 15 City of Eulee kweskrwnt Porfolo As of Jens 30,2005 "Mazl�t PrimProvkkd by Wadavia Seaaltles Meshnant Type Ya>ltutlan LOGIC Lood Govt Pool FNMA Fed.Noel Mor.Assoc. FHLMC Fed.Home Lon Mort Corp Wachovia Wachovia Sewrib" FSW Rmt Soufm" LOGIC Local Gov't knressnant Coop. FGIC Monty Market Pool FFCB Fed.Farm Credit Bank CD Certificate of Deposit TavwlLocd Gott Pool FHLB Fed.Hoe Loan Bank TBILL Treasury Bill FDIC Financial Investors Trust Ons Banc Oro Capital Duncan Duncan Wifm es Horne e7rpool TEXPOOL Sameo Samoo Securities Coasted Coastal Securtks Deusklre Dsustche Bank-New York Inv. Cusip Purchase Maturity Cal Term Days Prim Par Principal Interest Interest Yield To Book Mart Market Similar Unemordzad Coupon Ima tlfdmh0[ Rale Bffie D.e4s (in days) Awnad Per S1 YehB Imriated imruY AS'6'AIe9 (!]dldpC Yehl! Pdsa YJtlua 1mL QJ¢sBloi Eram6m PnwrvD U.S.Treeure TRILL 012705VG3 0223M 07/14/05 r✓e 141 127 - 90.0000 301,000.00 387,324.00 3,075.40 3,310.47 2.40% 300,035.07 00.887011 300,500.50 Daustdle krveshlrsrr Pools; LOGIC WA WA WA WA WA 100.0000 00.20 00.20 WA WA 3.1082% 00.20 100.0000 00.20 LOGIC Tempool WA WA WA WA WA 100.0000 17,031,909.42 17,031,909.42 WA WA 3.0583% 17,031,909.42 100.0000 17,931,909.42 Telpool FDIC WA WA WA WA WA 100.0000 2,009,600.02 2,009,000.92 WA WA 3.0400% 2,009,000.92 100.0000 2,009,000.92 FGIC TOTAL: 211,001,030.64 206001,030.64 30000% 20,801,830.64 20,601,890.64 0.00 0.00 0.00 TOTALPORTFOLIO 60,962,630.64 66,673,243.62 477,138.16 230,968.19 6If,898.71 a82 64783.91343 66,969.78 99,72319 (44,111.11) rn I a I�8888 N E6g Oa Pigg 9A 99M9 YIn 9906g Fa 99c o pp eN N6ai N d 8 �Nm .g. ..N gv �H69 �q N 0 NNgN O 1 tl •-_ `SIJ_ l�lV` NIG "lv _CC ��Pl 7 � o � s sss s 8 g � m ^lel of N 01 _ Jm 8 - 8-i08 38 6884 28898 88.1 888 888 88288 X 0Ng � $ �K �s g x a � ggo gds 9ggo lV 171�Ne V; nui ea ri Nmri eY1C o NN_ cIf 1 d p b� OQ S��i •EZEL7�02< ..GG EJ m Zp. oaZ J 3Z��!�QQZ 560 UU rn9OOjLLZLLZL0 �ZZ¢ �i�iwZ > ¢ 22j ¢ LLZw¢ 0071 • �� o o D S� Owow y oo Swy <oS w a�S 9 wm "<w xx§oSmmo Se o a 1111011MEZIIMII� f E 3 3 3:=O 3 n W f3 0 30 w 888888888888888858888888888888888888888888888l0-8888888888 888888888"88 8a8�8�8��8��p�8�mp�pm�mp�S�S��^p�8��a�{�8�m�fp�mp��S�ea��Op�S��8Yp�fbp�(�y♦p�uyf8�rp�f��pp��Yp�fm��i88.of��8�8�R�8�8��pm�fp��S�1m��C♦�8� if P iw I asssassssssssssssssssssssssssss8ssssssssss8ss888s8asssassss88sssssssss 80888888$88881°810gZG88888888s888889SPR!2988v$8iPOV880voWR888OW98NOn088883'2A8 � ssH x #ss � ssss s.. .g gg� N� Ned e C4N NNNvj vjgNgejNsa66N0m6N6NviN NN�6� 0. M. � sm alaQ age jig 8P86g��s$�a��gs��8�8�s�gg�gg��8s��`��s��o d�mamne omemmme m_m__Na ci o:d n i-e'i oomNv 8888 ov8-88888888888888ass$88-88-8888888888A888-P8P88888888888888--88-8 18�i181v g � � p� � laloN �:Mgrg... .. . .. & uiv'o oeNHNom ui(4 croNoevi Yi nomm �.=vi n o o o Nddnld rtin a6 ao_nmm�n muk m vnoonnmmo go d o o omo < 888888m8�!8888088OP88888888888uoi888`988%PR 8888898V88n8V888888888888888t288 a 8888888888888888888888888888888888888888888888888888888888888888888888 S'rs88.08s0s888ss88s8a888888888ss88888ss8r'88s8s8s8888888s8s88ss8888886888 88X1J��3&°�Esss��✓n888G`?�F1sSisO3xt��GA�&a8��t��R8AA8NmN-AA8sm -S3�---RR FE mm m amm�mmwmaorom��m�m��mammm8��°m��m�wmmm�m��m-B S$8 m$88--m8mmm�m�n��mm <e6 Jul U �� pp� < <�p��< �i • a< < as aaa a< aaa < « 33H 333H Hip Sig 8Sss IM F-:: -o5EI HI IRSsz 8C �8 a ggg opana_aoOyN o nnoQO`0 oo s/jpo Amy¢mmeLLmmoonmmo o_a__vNmpnam Nmy n O�� fI m�W p O iR N Z W N�S j LL Y Y Q Ym-g�=p`�<�Q�O CL mmml+F�mm m mm min�nmoimnFmM;m� 0��m�n;�Fcnn�cninFFi nm n�� in�m 'n� mm��m�Fi'n nn�m 17 City of Ewass Irwestrnsrd Portfolio As of September 30,2005 "MINIM Pdm Provdad by Wadavia Secufnks kwesknwlt Type InstRuft LOGIC Loaf Gov4 Pool FNMA Fed.Nerl Mort.Assoc. FHLMC Fed.Hama Low Mort Corp Wachovia Wachovia Securities FSW First Southwest LOGIC Local Gov't Imreetmerd Coop. FDIC Marey Market Pool FFCB Fed.Farm Credit Bank CD Certificates,of Te�oolLocal Govt Pool FHLB Fed.Home Low Bank TBILL TreasuryBic Depose BaBwoOne B One Dune Menta Lynch FDIC Financial Investors Trust Capital Duman Duncan Wifams Taapool TEXPOOL ► Samoo Santo Securitles coastal Coastal Securities Deustche Daustche Bank-New York Inv. Cusip Purchase Maturity Cap Term Days Prim Par Principal Interest Interest Yield To Book Market Market Seller Unemor0zed Coupon IM MImbs Bata Des Dffift (iadays) Accrued Per 5100 Yam lmtrmted *melt Accrued maturity YAM Pella YAM 11ML Dltitclot Pmmilm Prfiffvp1a1 Hata FHLB 3133XBTN5 07/08/05 06725/07 06126/06 180 125 00.0200 500,000.00 400,000.00 10,000.00 0,244.44 4.04% 409,800.00 90.310000 400,550.00 Duncan 400.00 (200.00) 4.000% FNMA 3130FOM 00114/05 OW14107 OW14106 180 106 100.0000 500,000.00 500.000.00 10,250.00 0,038.11 4.10% 500,000.00 99.400000 497,000.00 Wachovia 4.100% FHLB 3133XCHT3 08/12405 08/10/07 11/12406 180 50 100.0000 500,000.00 500,000.00 10,000.00 2,777.78 4.00% 500,000.00 99.040000 408000.00 FSW 4.000% TOTAL• 37,221,000.00 37,133,683.16 664,284.83 280.630.99 3.2064% 37,147,00278 30.9 ,88217 132,007.00 04, 0.18 (73,997.24) kweekrlaA Pools LOGIC WA WA WA WA WA 100.0000 00.72 00.72 WA WA 35400% 8D.72 100.0000 00.72 LOGIC Tempool WA WA WA WA WA 100.0000 14,773,677.12 14,773,077.12 WA WA 3.0028% 14,773,077.12 100.0000 14,773,077.12 Texpool FDIC WA WA WA WA WA 100.0000 2,092,317.03 2,a92,317.83 WA WA 3.7100% 2,092,317.03 100.0000 2,002,317.03 FDIC TOTAL 17,406,066.47 17,166,060.47 3.6179% 17,4(6,066.47 17, 468,066.47 0.00 0.00 0.00 TOTAL PORTFOLIO 64,867,066.47 64,68%738.63 664,264.83 288,630.98 64,613,068.23 64,436,817.84 132,007.00 44, 0.18 (73,987.24) N 888�6�8PS$8$bBRiC � 888 888 ,,2 8 88PP 888 88 888 888 OxaOOOO^^: ;^p ydd 6 a W i 66 dela O x yd?dxd d dddyo�a^ d gill xdj Nxd yd O yd xbd bxd y[d d Abddd 999 999�(S ddd �.y x O Ol0 W Pl 5 to q (V�N NN*9100 A O ill NO�! 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L(n�0 0 0{n 0 U U 0 U !000099000 0 U O 0 s 222 0 g g 0 0 0 0 0 Y sox a a s s 8 Sanaaaa -s 8ss s #�QQj{��o��s�QQ g0gQ1Q_QsQ ��QQcc.j�RsR(�(��[�� {� [h[uum§{{��y��a{�."s# gga �ntn gag#{g{i�gg $ no R$R�R{�{��##�_�{${��(#{�IAP8Q8g- ROOM SSSo �'n2p'i37pSTil 075 0 3R$�SZfS��oS 35 3�5�3�$88� �2Sg3RA8 ORI M�i5e N88NH 0800 A88880 88 $ 088888888$ 9 488884882 98988888888889b .-Pop 0 0 0 0 0 pp O A 0 0 0 0 0 0 0 0 0 O m 0 0 0 0 0 0 A 0 o O O O O O 0 O O O O 0 O OP pAw.1po p0 mpppo v4prlpp0p0 .1r, op fop PNp--no�00 p0 p0 0 opup�N0 Q0p-o0 p0 p0 �a wpNp�oQop 0(0�p0 p0 0 0 D O 0 S H O O $V o e 0 0 N N O 0 0 w H 8 N+0 0 0 O +0°V N N N 9 0 0 2288=8&8 V 8i°°V U 0 0 /Jr City of EWm Imestrnem by Fund As of June 30,2006 - Irmeebnrd Type kbtlartlen LOGIC Local Govt Pool FNMA Fed.Nat'I Mort Assoc.FHLMC Fed.Home Loan Mort.Corp Wachovia Waohovle Securities FSW First Sou d wmt LOGIC Local Gov't Investtnent Coop. FGIC Morley Market Pool FFCB Fed.Farts Credit Bank CD CeAMicates of Deposit Vining Vining Sparks Merril MCMI Lynch FGIC Financial Investors Trust Telpool Local Gott Pool FHLB Fed.Hoare Loan Bank TBILL Treasury BIN Banoone Bane One Capital Duucen - Duncan W ifform Telpool TEXPOOL Samoo Samco Securities Coastal Coastal Securities Deustche Deu stche Bank-New York Accrued Im. Cuwip Purchase Maturity can Term Days Price - Par Cost Interest Total Prin,+ Yield To Co I= Numbs Q3m DAR Reg (in days) Per SI YAM (Pdn.OnN &8�h �m35Y Ird.0m Purchased SeMr Medrol %ot 1 Plitfb3tl9 11135. Ql3ooYd P1amtlm EIa4 Yahl3 Fordolo 7YAkA Teopool WA 100.0000 231,110.00 231,110.00 0.00 231,110.00 3.00% Tolpool 512 231,110.00 0.41% 0.00 Fund 620-Reasertbn Clmsm FGIC WA 100.0000 110,84350 110,843.50 0.00 110,843.50 3.04% FGIC 520 110,84350 0.10% 0.00 Teopool WA 100.0000 180,543.55 186,543.55 188,543.55 3.08% Twpool 520 188,54355 0.33% 0.00 Srbtotel 207,387.13 207,387.13 0.00 207,387.13 0.00 0.00 0.00 srbtotal 207,387.13 0.52% 0.00 Rad 521,Arbur Doze FGIC WA 100.0000 80,403.15 80,463.15 0.00 80,483.15 3.04% FDIC 521 80,463.15 0.14% 0.00 Telpool WA 100.0000 10,014.31 10,014.31 0.00 10,014.31 3.06% Tezpool 521 10,014.31 0.03% 0.00 SUTADW 00,477.46 00,477.46 0.00 00,477.40 0.00 0.00 0.00 subtotal 00,477.46 0.17% 0.00 Rad 630-So1WM World-Opsratkg FGIC WA 100.0000 85,005.88 85,605.80 0.00 85,006.80 3.04% FDIC 530 85,805.86 0.15% 0.00 TWgmI WA 100.0000 300,517.16 300,517.16 0.00 300,517.10 3.00% Telpool 530 300,517.10 054% 0.00 Subtotal 305,123.01 305,123.01 0.00 305,123.01 0.00 0.00 0.00 subtotal 305,123.01 OAD% 0.00 Rad 64OGol Course Te0O00) WA 100.0000 0.00 0.00 0.00 3.00% Telpool 540 0.00 0.00% 0.00 FDIC WA 100.0000 0.00 0.00 0.00 3.04% FGIC 540 0.00 0.00% 0.00 Subtotal 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 srbtotal 0.00 0.00% 0.00 Fund 541-Golf CIP Teapot WA 100.0000 0.00 0.00 0.00 0.00 3.00% Topool 541 0.00 0.00% om Fund 660-Perks at Tom Star Teopool WA 100.0000 130,60203 130,60203 0.00 130,00203 3.00% Tevool 550 130.0203 0.25% 0.00 Rale 652-Pheee it Athletic Oornplax N FGIC WA 100.0000 0.00 0.00 0.00 0.00 3.04% FGIC N Teopool 552 0.00 0.00% 0.00 WA 100.0000 0.00 0.00 0.00 3.00% Tahpool 552 0.00 0.00% 0.00 Sublotel 0.00 0.00 0.00 0.00 0.00 0.00 0.00 subtotal 0.00 0.00% 0.00 Rale 001-Equpnent Repleosinerrt PLIC WA 100.0000 05,030.30 05,030.30 05,030.30 3.04% FGIC 001 05,030.30 0.17% 0.00 Teopool WA 100.0000 278,481.10 278,481.10 278,481.10 3.06% Tnpool 001 278,481.10 0.40% 0.00 FNMA 3130MC0 05MM 1ZO21105 O6r0204 000 152 100.0000 200.000.00 200,000.00 8,750.00 208,750.00 1.75% 1.750% FSW 001 108,500.00 0.35% 053 FHLB 3133XAKU0 01/27/05 01/27/06 WA 300 207 100.0000 300,000.00 300,000.00 0,000.00 300,000.00 3.00% 3.000% FSW 001 208,800.00 053% 1.00 FHLB 313XAGR3 0128M 0428/00 0712606 460 208 100.0000 300,000.00 300,000.00 11,073.0 311,1125.00 3.10% 3.100% Wachovia 001 208,470.00 053% 1.57 FHLB 31311(C3B7 06'30/05 0000106 09030"06 30D 380 100.0000 100,000.00 100,000.00 3,000.00 103,000.00 3.00% 3.600% COASTAL am 00,790.00 0.18% 0.03 Subtotal 1,274,12050 1,274,12050 32,975.00 1,307,00650 0.00 0.00 0.00 Subtotal 1,200,74050 224% 3.83 Fund 6104harance PLIC WA 100.0000 0.00 0.00 0.00 3.04% FGIC 810 0.00 0.00% 0.00 Teopool WA 100.0000 202111.00 202,111.00 202111.00 3.00% Togml 010 202,111.00 0.35% 0.00 FNMA 3130F3WC0 06/)2/09 12/02/05 0500604 am 152 100.0000 100,000.00 100,000.00 4,375.00 104,375.00 1.75% 1.750% FSW 810 00,750.00 0.18% 0.27 FHLB 3133X9SJ0 1228/04 0328/06 08/2Sf06 450 208 100.0000 300,000.00 300,000.00 11,381.25 311,381.75 3.04% 3.035% WACHOVIA 610 208530.00 053% 1.41 FHLB 3133XAOR3 0128/05 0428/06 07/7606 450 208 100.0000 100,000.00 100,000.00 3,875.00 103,875.00 3.10% 3.100% Wachovia 010 90,490.00 0.18% 0.52 FHLB 3/28X4AR2 05/10/05 02/16/07 MGM 030 see 100.0000 500,000.00 500,000,00 35,08750 535,087.50 4.01% 4.010% WACHOVIA 010 400,90000 0.88% 5.14 subtotal 1,202,111.00 1,202111.60 54,718.75 1,750,830.35 0.00 0.00 0.00 nbtotel 1,199,281.00 211% 7.35 Find 6l"Isk Manegernard FGIC WA 100.0000 102267.99 1022117.00 102,267.00 3.04% FGIC 015 162267.00 0.28% 0.00 Tnpool WA 100.00OO 308,980.90 308,980.90 308,080.00 3.00% Telpool 015 308,089.90 0.05% 0.00 FHLB 3133XAOR3 0128/05 0429/00 07/28/06 450 298 100.0000 100,000.00 100,000.00 3,875.00 103,875.00 3.10% 3.100% Wachovia 015 90,400.00 0.18% 0.52 FHLB 31337(C3B7 0500/05 00/30/08 09/30/06 300 380 100.0000 100,000.00 100,OOD.00 3,000.00 103,000.00 3.60% 3.000% COASTAL 001 00,790.00 0.18% 0.03 Subtotal 731,757.80 731,257.89 7,475.00 738,73280 0.00 0.00 0.00 subtotal 730,537.89 1.28% 1.18 find 7054)s1m Stars Escrow Reserve Tetpool WA 100.0000 1.959,038.34 1,950,038.34 1.959.638.34 3.00% Tehpool 705 1,950.038.34 3.44% 0.00 TOTAL 66,962,63064 66,873,243.62 1,487,784.08 66,300,274.23 88,28673 8$969.78 99,72&18 TOTAL 68,763,913,13 100.00%167.41 88Snm°�8g'a8nu�ln88f.'�o�3v 888 888829 8 8854 888 88 888 888 88 syr odd oy[OOooN--N�xNy m�vxyi(6[x4vig ddd dd6d,;,: o~ dddd ddd 0odod dd o dd 99; Mott Ml yxW 66 99$ 999 99 x oO,-OOOOOe-OOod9oOOovi S dOO oOOOO, O O o o d O O O O d O O O d d O O :!988888888888888888 8 888 698889 8 8R89 6P8 RR 888888 88 s 8 g 4$gggg i `gg. 1�ij ddd ddl dd p o LsiE � m p0 O O O p p 7pY, p7E 8 7X 7T. 7Y. 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QV 88 Q8 Q858�y8885888588858885888Q8588V 88Q88858�58�y8 Q9858�58�58�58885888Q9 8 588 9288 Q8Q89 8�R88R k-9999999 �gf 8�F2S2S2S252S2S2S2Si52S2S2S2S2S252S2S� Y�2S2SZS2SZSf{ 25d2S2S252SZS2S2S2S o 2575 i1�2S2S25� dN2S� g .99999999999 9999999 889999989 9 g 99999 999 gr .gmss�:4.pcmW169 R&M Rgg g SEE FEU�F O 00 m9 f 8 E IAF agLLd P33.OI ��Moog 4+Q kv 33 NdU 33Nd �exm C3 S 33�iio 336 n � r%iax¢sz'�6 >3� w s d 2s �� 4 mNIV{�I+JN OJ OI t+I�f4 M!l fQ fel tOM TS (q l�l��l0 tr/��1�� W W ■! P1�� FE H 2 ; M d 2 iibb ��5 T��U 9 99 99993 33 U9 gg2 33 9J gg gg UJ 5m93 gg ggT�9 g8 25 Clly of Eufea Imes"wit by Fund As of September 30,2005 kwestnerht Type Metbrdm LOGIC Local Govt Pool FNMA Fed.Nal Mort.Assoc.FHLMC Fed.Home Loan Mort Corp Wachovia Wachovia Securities FSW First Soutmest LOGIC Local Gov't Irmesxnad Coop. FDIC Money Market Pool FFCB Fed.Farm Credit Bank CD Cerlifksles of Deposit Vining Vining Sparks Merrill Merrill Lynch FDIC Financial Investors Trust Telpool Local Gov't Pool FHLB Fed.Mome Loan Bank TBILL Treasury Biu BencOns Bane One Capital Duncan Duncan WHIlans Twpool TEXPOOL So So Sermles Coastal Coastal Securities Deustche Sano andDeustdo Sank-New York Accrued Inv. Cusip Purdrese Metulry Cam Term Days Prim Par Cost Interest Total Plln.+ Yield To Coupon Interest Saler Matt %of I= Nunmbs 00 am fed (h caval mn mhk m 2/LS1412 YAR IPlt.9Dk1 !meCv Int.a MatyMaturity Bags P ai d loaf. Disco aN Prannilm Find AM Portfolio Wm FGIC WA 100.0000 103,833.40 103,833.40 0.00 103,833.40 3.71% FDIC 511 103,833.46 0.10% 0.00 Te)pool WA 100.0000 20,101.70 20,101.70 20,101.70 3.00% Tapoof 511 20,181.70 0.05% 0.00 FHLB 3133X57A0 0427/04 01/27/10 01/27/05 030 117 100.0000 500,000.00 500,000.00 17,675.00 517,075.00 2.02% 2020% Vining 511 400,0.50.00 0.01% 1.07 FHLB 3133XC3137 ON30% 06301W 009OM6 300 270 100.0000 500,000.00 500,000.00 18,ODD.00 518,000.00 3A0% 3.(100% COASTAL 511 407,700.00 0.01% 247 SU)total 1,120,005.10 1,120,005.10 35,675.00 1,10.5,070.10 0.00 0.00 0.00 Subtotal 1,124,645.10 2.00% 3.54 Fuad 6124)roYupe Reserve Topool WA 100.0000 231,110.00 231,110.00 0.00 231,110.00 3.00% Tapool 512 231,110.00 0.42% 0.00 Fund 620-Reaeetlan Choose FDIC WA 100.0000 111,784.20 111,784.20 0.00 111,784.20 3.71% FGIC 520 111,784.20 0.20% 0.00 Topool WA 100.0000 188,381.88 188,301.88 188,361.88 3.aO% Tapoof 520 188,301.88 0.34% 0.00 Shbtotal 300,146.10 300,146.10 0.00 300,140.10 0.00 0.00 0.00 sbtotw 300.140.10 0.55% 0.00 Fled 521-Arbor Dade FDIC WA 100.0000 81,148.02 81,148.02 0.00 81,148.02 3.71% FDIC 521 81,140.02 0.15% 0.00 Tapool WA 100.0000 10,100.05 10,100.05 0.00 10,100.05 3.00% Tapool 521 10,100.66 0.04% 0.00 &DLotel 100,345.67 100,345.07 0.00 100,345.07 0.00 0.00 0.00 nbtotal 100,345.07 0.18% 0.00 Fad 630Sollbam World-Operatig FDIC WA 100.0000 88,332.37 80,33237 0.00 88,33237 3.71% FDIC 530 80,33237 0.10% 0.00 Topool WA 100.0000 312,534.17 312,534.17 0.00 312,534.17 3.00% Topool 530 312,534.17 0.57% 0.00 Shbtotel 308.808.54 308,800.54 0.00 308,808.54 0.00 0.00 0.00 shbtotal 308,800.54 0.73% 0.00 Fund 5404iolf Cane TOP" WA 100.0000 0.00 0.00 0.00 3.00% Tapool 540 0.00 0.00% 0.00 FDIC WA 100.0000 0.00 0.00 0.00 3.71% FGIC 540 0.00 0.00% 0.00 N Snbtotd 0.00 0.00 0.00 0.00 0.00 0.00 0.00 srbtotel 0.00 0.00% 0.00 Fled 641-0om qP TOW" WA 100.0000 0.00 0.00 0.00 0.00 3.00% Telpool 541 0.00 0.00% 0.00 Fund 650.4wft at Term Star Topool WA 100.0000 141,054.50 141,054.50 0.00 141,054.50 3.00% Tepool 550 141,064.50 0.20% 0.00 Fund 662-Phase I Athletic Corrpka FDIC WA 100.0000 0.00 0.00 0.00 0.00 3.71% FDIC 552 0.00 0.00% 0.00 Tapool WA 100.0000 0.00 0.00 0.00 3.00% Tapool 552 0.00 0.00% 0.00 Shblotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 shblotal 0.00 0.00% 0.00 Fund 001-EQupmart Replacement FGIC WA 100.0000 00,451.08 00,451.00 00,451.00 3.71% FDIC 801 00,451.08 0.18% 0.00 Topool WA 100.0000 422,134.05 422,134.06 422,134.06 3.00% Te7pool 001 422,134.06 0.77% 0.00 FNMA 3130%NCO OOM W 12M W 0602 W 000 02 100.0000 200,000.00 200,000.00 8,750.00 208,750.00 1.75% 1.750% FSW 801 100,300.00 0.37% 0.23 FHLB 3133MKUO 0127/05 0127/00 WA 300 117 100.0000 300,000.00 300,000.00 0,000.00 300,000.00 3.00% 3.000% FSW 001 290,100.00 0.55% 0.84 FHLB 3133XAOR3 0128M6 04I2BM0 072606 450 208 100.0000 300,000.00 300,000.00 11,025.00 311,025.00 3.10% 3.100% Wachovia 001 208,230.00 0.55% 1.14 FHLB 3133XC3B7 05WW 0Oi30 W 0090406 300 Z70 100.0000 100,000.00 100,000.00 3,000.00 103,80D.00 3.00% 3/00% COASTAL 001 00,540.00 0.18% 0.40 Shbtotal 1,418,585.11 1,418,585.11 32,075.00 1,451500.11 0.00 0.00 0.00 Subtotal 1,414,755.11 2,59% 250 Bind 6104nsurance FDIC WA 100.0000 30,315.30 30,315.30 30,315.30 3.71% FDIC Oto 30,315.30 0.00% 0.00 Tepool WA 100.0000 2,741.04 2,741.04 2,741.04 3.00% Telpool 810 2,741.04 0.01% 0.00 FNMA 3136F3WCO OOMZM3 12/02/05 0602/04 am 02 100.0000 10D,000.00 100,000.00 4,375.00 104,375.00 1.75% 1.750% FSW 610 00,650.00 0.18% 0.11 FHLB 3133)COWO 1220/04 0328/06 062846 450 178 100.0000 300,000.00 300,000.00 11,381.25 311,381.25 3.04% 3.035% WACHOVIA 610 208,470.00 OS5% 0.08 FHLB 312BX4AR2 05/10M 02/1607 061606 x30 400 100.0000 500,000.00 500,000.00 35,087.50 535,08750 4.01% 4.010% WACHOVIA 610 407,450.00 0.01% 4,53 shbtaal 033,050.43 033,050.43 50,843.75 083,000.18 0.00 0.00 0.00 SUADtal 028,020.43 1.70% 5.02 Fund x164ilek Manamanard FDIC WA 100.0000 15,1,x45.11 103,045.11 103,046.11 3.71% FDIC x15 1x3,045.11 0.30% 0.00 Texpool WA 100.0000 372588.03 372,58x.63 372,588.03 3.00% Topool 815 372,5a0.63 0.08% 0.00 FHLB 3133XAOR3 0128/76 042WW 0728/06 450 200 100.0000 200,000.00 200,000.00 7,750.00 207,750.00 3.10% 3.100% Wachovia 015 108,820.00 0.37% 0.76 FHLB 3133XC3B7 0690/05 OMOM0 0891y06 300 270 100.0000 100,000.00 100,000.00 3,000.00 103,000.00 3.x0% 3.600% COASTAL 001 00,540.00 0.18% 0.40 Shbtotal 830,231.74 830,231.74 11,350.00 847,581.74 0.00 0.00 0.00 shbtotal 834,501.74 1.53% 125 Fund 706-0emas Sin Escrow Reserve Tepool WA 100.0000 1,002,314.05 1,002,314.65 1,002,314.35 3.x0% Tepool 705 1,002,314.45 3.50% 0.00 TOTAL 64,887,066.47 64,600,738.83 1,733,680.26 68,420,735,73 133,100.97 13$007.00 44,800.18 TOTAL 64,436,017.64 100.00%180.11 C6y of Euless Sche"of Padrane For Juy 2006 Inveetmaa TyPe k*tkdion LOGIC Local Govt Pool FNMA Fed.NaCl Mort Assoc. Fed.Home Loan Mort Corp Wadiovla Wadmia Securities FSW First Southwest LOGIC Local Govt kwesenent Coop. - FGIC Money Market Pool FFCB Fed.Faun Crrdit Bank Certificates of Deposit Vining Vining Sparks Merril MCMI Lynch FDIC Financial Investors Test TWVWILocal Gov't Pool FHLB Fed.Home Low Bank Treasury Oil Banton Banc One Capital Duncan Dunew Wilians T TEXPOOL Samoo Samoo Securities Coastal Coastal Securities Daunt het Deutchs Bank-New York Cox Accord Total P+I t Inv. Cusip Pudrse Maturity GI Tenn Price Par Book Vale Interest Total Yield To Coupon Interest Seller Mary Nat of Total cost I= Nurnbe Dim DAR QM (in days) Par Si 4 yam (Prin.OnMI 0 Prin+tat mOB610L B9{ft Ptd IML Diego Preml 0 Eltall Pram.Disc 6Int Pi ofIm!!ffi��t FHLB 3133MCH57 07/01 MS 11/15/05 134 101.0540 300,000,00 303,102.00 0,750.00 300,750.00 3.60% 0.500% 2,401.67 Duncan 3,162.00 240 304,000.33 305,6.5367 Tmpool 07/0OM 100.0000 81,323.00 81,323.08 0.00 81,323.00 3.00% Texpool Various 81,323.00 81,323.08 FHLB 3133)(85Z1 07/05W 08/15/06 300 02.0000 805,000.00 700,050.00 34,715.03 830,715.03 3.80% 2.875% 0,084.64 Merril 8,050.00 240 830.050.00 800,014.84 FMAC 3128X3BP7 07/07/05 0427/07 650 08.3eS0 431,000.00 423,053.15 25,880.00 456,860.00 3.05% 3.000% 2,514.17 Sanaa 7,046.85 501 454,345.83 426,467.32 FHLB 3133MYQF7 07/07/05 0521/07 WA 074 08.3440 250,000.00 245,860.00 15,150.00 265,150.00 3.05% 3.030% 967.02 San= 4,140.00 240 284,18208 246,82!.02 FHLB 3133XBTN5 07478(05 05/25/07 06026/08 077 00.9ZW 500,000.00 400.00.00 40,000.00 540.000.00 4.04% 4.000% 2,388.80 Duncan 400.00 505 537,811.11 501,088.80 Tapool 07/11/05 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 3.24% Texpool Various 1,000,000.00 1,000,000.00 Texpool 07115/05 100.0000 000,000.00 000,000.00 0.00 000,000.00 3.24% Texpool Various 000,000.00 000,000.00 FNMA 31369MTU7 07/12(05 01/15/00 WA 183 00.1515 250,000.00 247,878.75 5,000.00 255,000.00 3.70% 2000% 2,468.33 Duncan 2,121.25 101 252,541.67 250,337.08 FHLB 3/33WQR4 07119/05 1127106 488 100.3810 500,000.00 501,805.00 32,100.00 532,100.00 4.00% 4.280% 3,001.11 Sameo 1,805.00 501 527,203.80 504,806.11 FHLB 31350MWK5 07/10/05 OO42M 420 08.7000 500,000.00 403500.00 21,075.00 521.075.00 3.03% 2810% 4,33208 Sano 8,500.00 305 516,74202 407,83208 FHLB 3133)(CDD2 07/1WW 01119/07 08119/06 540 100.0000 1,000,000.00 1.000,000.00 58,275.00 1,058,275.00 3.80% 3.885% Wadnovie 301 1,058,275.00 1,000,000.00 Texpool 072M 100.0000 1,000,000.00 1,000,000.00 0.00 1,000,000.00 3.24% Tenpool Various 1,000,000.00 1,000,000.00 TOTALS: 7,517,323.00 7,404,03286 241,025.63 7,750,24059 3.08% 27,308.81 28,258.10 4,067.00 7,726,073.78 7,521,341.67 C:. J LOGIC DIVIDENDS REINVESTED 0.17 0.17 017 017 TEXPOOL DIVIDENDS REINVESTED 48,734.70 48,734.70 48 73470 48 73470 FGIC DIVIDENDS REINVESTED 7,025.70 7,025.70 702570 702570 TOTAL INCLUDING DIVIDENDS: 7,573,084.02 7,540,703.52 241,925.83 7.759,24050 7,782,734.44 7,577,10233 City of Erdeaa Schedule of Prwdlasee For Au0uet 2006 Investment Type MedNllen LOGIC Local Gov't Pool FNMA Fed.Nefl Mort Assoc. Fed.Home Loan Mort Corp Wachovia Wadavte Securities FSW Ebert Souhwest LOGIC Local Gov't Imrastment Coop. FDIC Money Market Pool FFCB Fed.Farm Credit Bank Certificates of Deposit Vinkv Vinke Sparks Mardi Merrill Lynch FGIC Financial Investors Trust TexpoolLoeal Gov't Pool FHLB Fed.Home Loan Bank Treasury Bill Ba cOne Bane One Capital Duncan Duncan Williams T alpool TEXPOOL Santo Samco Securities Coastal Coastal Securities Deustche Deustdue Bank-New York Cost Accord Total P+1 Inv. Culp Purchase Maturity Cel Tenn Price Par Book Value Interest Total Yield To Coupon Interest Seller Mary Net of Total Cost I= Number am am Dgift (in dmm) Par S1 o0 YAM (Pdn,OnW l matlt Ptlatlat Blrta Purchased lt>at. DOW Prornilm E" Prem.Disc a lM Pr of Imtr�enoot Tallpooi 08/0305 100.0000 40,000.00 40.000.00 0.00 40,000.00 3.24% Telpooi Various 40,000.00 40,000.00 FHLB 3133XCHT3 08/10)05 08/10)07 11/10)6 720 100.0000 500,000.00 500,000.00 40.000.00 540,000.00 4.00% 4.000% FSW 501 540,000.00 500,000.00 Texpool 08/12/0.5 100.0000 2,000,000.00 2.000,000.00 0.00 2,000,000.00 3.40% Telpool Various 2,000,000.00 2,000,000.00 FHLB 3133XBMSS 08/2aW 03GO/M 217 00.21100 150,000.00 148,800.00 3,075.00 153,075.00 3.00% 2.050% 1,578.06 Dusan 1,110.00 501 152,300.04 150,408.06 FHLB 3133XBOF7 0825/05 04/05/07 580 00.11000 500,000.00 408,000.00 40,000.00 540,000.00 4.20% 4.000% 7,0110.117 Dwm 2,000.00 502 532,333.33 505,086.07 FNMA 31311FS7B1 0820M 00/07/00 308 08.8108 500,000.00 404,054.00 22,500.00 571,500.00 4.20% 3.000% 7,100.07 VINING 5,0411.00 101 515,333.33 501,720.07 Towool 0&31/05 100.0000 500,000.00 500,000.00 0.00 500,000.00 3.58% Tetpool Various 500,000.00 500,000.00 TOTALS: 4,100,000.00 4,180,044.00 100,475.00 4,200,475.00 3.80% 10,41230 0,050.00 0.00 4,280,002.70 4,107,356.30 LOGIC DIVIDENDS REINVESTED 0.17 0.17 0.17 0.17 TEXPOOL DIVIDENDS REINVESTED 50,418.24 50,418.24 50,418.24 50,418.24 FGIC DIVIDENDS REINVESTED 7,482.04 7,482.04 748204 748204 TOTAL INCLUDING DIVIDENDS: 4,247,001.35 4,238,845.35 100,475.00 4,200,475.00 4,337,0114.05 4,255,257.05 N 00 CRY ofEuless Schedule of Isurdlruee For Septembr 2008 kwwtnwrt Type katlhdlon LOGIC Local Gov't Pool FNMA Fed.NaCl Mort Assoc. Fad.Home Low Mort Corp Wadavia Wadnovle Securities FSW Fiat Southwest LOGIC Local Gov't Imestmrd Coop. FDIC Money Market Pool FFCB Fed.Farm Credit Bank Certificates of Deposit Vining Vining Sparks MCMI Mardi Lynch FDIC Financial Investors Trust TelpoolLocal Govt Pool FHLB Fed.Home Loan Bank Treasury Bill Ba oOne Banc One Capital Duncan Duncan Wifams Tapoot TEXPOOL Sano Sa noo Securities Coastal Coastal Securities Deustdw Daudtdw Bank New York Coat Accrued Total P+10 Im. Culp Purhass Maturity Call Term Pdux Par Book Value Internet Total Yield To Coupon Interest Sabo Mary Net of Total Cost I12a Nurnbe Dim Dffi4 ZW@ G9 dm81 Par$1 YAM (prin.OnM) 411 mary Prin+IB& PJB 1841. Dlsm Premltm Ewd Prem_DiscaInt Pi of investrneM Telpool 00/02/05 100.0000 81,3mgo 81,323.90 0.00 81,323.00 3.52% Telpool Various 81,323.90 81,323.00 FMAC 3128X4HE4 OB/0M O9/05/00 11/1008 383 100.0000 285,000.00 285,000.00 12,848.85 297,048.85 4.14% 4.150% 72279 Duncan 240 290,020.00 285,72270 Tepool 00!12MS 100.0000 1,800,000.00 1,800,000.00 0.00 1,800,000.00 3-50% Telpool Various 1,800,000.00 1,800,000.00 FHLB 3133X2475 04/19/05 05/24107 11/14/08 805 00.7100 300,000.00 200,130.00 25,200.00 325,200.00 4.20% 4.200% 2,875.00 Duncan 870.00 305 371,325.00 302,005.00 FHLB 3133XD2O3 0421/05 0321/07 12!21/08 540 100.0000 500,000.00 500,000.00 31,875.00 531,875.00 4.25% 4.250% WACHOVIA 240 531,875.00 500,000.00 FHLB 3133XOOK0 0423105 08/15/08 322 08.5313 400,000.00 482,803.13 11,837.50 501,037.50 4.08% 2375% 1,228.40 MERRILL 7,198.87 240 500,400.10 484,03153 Twpool 09/1dAD5 100.0000 750,000.00 750,000.00 0.00 750,000.00 3.71% Terpool Various 750,000.00 750,000.00 FHLB 3133XDA02 0020/05 0324/17 OSr24r08 540 100.0000 500,000.00 500,000.00 31,012.50 531,012.50 4.14% 4.135% DUNCAN 305 531,01250 500,000.00 TOTALS: 4,700,323.98 4,098,257.00 112,373.85 4,818,007.81 3.04% 4,820.19 8,000.87 0.00 4,813,871.62 4,703,083.28 LOGIC DIVIDENDS REINVESTED 0.18 0.18 0.18 0.18 TEXPOOL DIVIDENDS REINVESTED 48,191.18 40,191.18 40,191.18 40,101.18 FDIC DIVIDENDS REINVESTED 8,147.90 8,147.00 8,147.00 8,147.99 TOTAL INCLUDING DIVIDENDS: 4,780,003.31 4,752,590.44 112,373.85 4,818,097.81 4,808,210.97 4,757,47261 [V s m s s a 8 8 8 8 8 8 s s ia 3 N 8 8 8 �3 g � � 8 8 1 V g X O"° g evi, g g g 8 g g 8 8 8 8 8 8 R gq g n h a ar g ' N a a $� g R n � 8s,1 g 8 32 > ei cf — N ci — et ci ci N 8 R F 8 8 8 8 8 8 8 8 8 8 8 8 R PI N Ol p p p p 8 p p p 8 v l 8 O O O O b N G C b 8 k' 9 8 8 8 8 8 888 8 8 8 e 8 8 e N am 8 A 8 8 8 8 8 8 8 8 8 8 8 8 9 g g g g g i g $ g g g g y g g 8 8 8 8 8 8 $ 8 8 8 8 8 8 8 8 EA m � o0 30 a s s s s s s a s a s a s 8 s 9 9 9 9 a�RJ� 8 s � 3 PH � g a a 8 a s a 8 8 8 8 8 YSE Q o6 d 6 d o � �q 8888888 8 8 8 8 8 8 8 9 9 9 8 9 J • 3 LL 31 a # e # a # 8 # # # ! - .| a # m # # # # a # # z| # # # # # # # # # # § ■ § ■ 7 § ■ § ■ \ /i |2P| | ! OD || | | t§ k ` # # # a # a |��k §§ ■ ■ ! ■ 7 § § � § § � . ,t | | | | | | | | | | 15 | _! # a a@ a # # a a a ! § § # # # # # # # # !� ¥ # § § 7 § § ■ ! } # # # # # # 8 # # # # # # # # # # # # # { !� § ■ § ■ � § § # ■ I k, !!/ ! # ! # ! ! ! ! ® ! a !!! � !|! � !i! 32 ■§#■§#R�m�aamm @¥#g#q@a«aamR�afm4�#■m#R9�m# q R05 �#K°°°§°�§%f° � � § §'§2■r� ;;!■aa;2k !f § 2§!9m@■■ . !§§§ m 2 a a k J $ � k § § a a ) ) k ■ ■ 2 2 # a s � � 7 k k / # # # % § § ■ / ® 8 m ` ■ k § k c @ 2 § k k # ° � #■ m § R § �■ § i| � ■ . .k - !! ; a ; ( � ! � © k § ■ § # # A 2 k k § § § a a a § § # § \ § ■ § § \ 8 ` ■ a # ( s mama = m 88 a 8 51 @ @ l2k2 / % ■2 ■ ■ k . # ; # as a a# ■ ■ § §■ 9 ■! § \ ® § & a # 2 � � ■ \ § e # a a a It raaa�a■G###ag�ma�#9■g#gmama#mRR#■#Ra#amae�gq# ® - 2 2m §§§!■ _©§ e! m ;am§!�2 a §~m# F § §§§§§§§qq§§§§§§§§§§|§§@aaaaaaaeaaeasaaaa■#aas , . �aa�@##mma#aAq##a@4#aa;aea�aga�anq&aaaaaenPaa q . �■ -;2� @®� SG E § E;s 892 § \ §/9■2 §Na■■■■■■;■■§■■!■■§§■■■2a2■§a■■!§@■;2■r \ R . 33 1 � 2 INVESTMENT COMMITTEE MEETING 01/19/06 *Annual Review, FY 05 Introduction I. Portfolio Summary II. Performance Summary III. Interest Income Summary IV. Collateral Review V. Broker Selection Process VI. Summary *Review Investment Policy *Appendices Appendix A - Investment Portfolio by Type of Asset Appendix B - Investment Portfolio by Fund Appendix C - Investment Purchases Appendix D - Investment Maturities Appendix E - Investment Maturities by Fund at September 30, 2005 *General Discussion and Questions 1 a 1 To Investment Committee Members From Vicki Rodriquez, Finance Administrator Date January 19, 2006 Subject Annual Investment Report The City of Euless Investment Policy, adopted by the City Council in January 2005, requires that the City Council and City Manager receive quarterly and annual reports of investment performance. The purpose of this report is to provide a means for Council members and staff to regularly review and monitor the City's investment performance. Attached is the City's pooled funds portfolio for the fourth quarter of Fiscal Year 2004-05 and information for all funds for the same period. The City's investment policy provides the general framework for the investment of City funds. The policy emphasizes the City's objective of safety, liquidity, and yield, in that order. The investment policy complies with the Public Funds Investment Act in all aspects including reporting. The fourth quarter report of FY 2005 is presented in a format that has been outlined in the investment policy. This report is for all funds and shows the market value at 6/30/2005, changes in market value, the market value at 9/30/2005, 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. i t t INTRODUCTION This report is written and submitted in accordance with Chapter 2256 of the Texas Government Code entitled the "Public Funds Investment Act", which states that "at least once each year, the investment officer of a state agency or political subdivision shall prepare a written report concerning the agency's or subdivision's local funds investment transactions for the preceding year and describing in detail the investment position of the agency or subdivision as of the date of the report. The City's investment policy designates the Assistant City Manager as the responsible manager for the City's investment program and as such has delegated the daily investment procedures to the Finance Administrator. In compliance with the City's investment policy, the Finance department fulfills four main objectives: compliance, safety, liquidity, and yield, in that order. Compliance is maintained through regular reporting to City management on a monthly, quarterly and annual basis. Safety is insured by 1) investing only in securities allowed by Chapter 2256 of the Texas Government Code entitled the "Public Funds Investment Act'; 2) using delivery vs. payment for all purchases; 3) protecting all non-government securities (cash and bank certificates of deposit) with collateral in the form of government securities which are pledged to the City of Euless and safekept at a third party institution; 4)diversifying investment purchases into different security markets to minimize individual market risk. Liquidity is met by matching investment terms to future operating cash needs such as payroll, accounts payable, debt service, and capital improvement disbursements. The City also utilizes money market funds and local government investment pools to provide daily liquidity needs. The yield or rate of return which the City receives is measured against the 90 day treasury bill yield as set by the investment policy. The information contained in this report will quantitatively and graphically demonstrate the achievement of these City objectives for Fiscal Year 2004-05. 2 Investment Strategy Compliance The strategy for all pooled funds is to assure that cash flows are matched with projected needs and assume adequate liquidity and safety. This may be accomplished by purchasing high quality securities in a laddered structure or utilizing an investment pool (See Appendiz Q. 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 Q. 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 Q. These funds include: 102 General Fund-Emergency 503 Water&Sewer Bond Reserve 103 General Fund-Contingency 507 Water&Sewer-Emergency Fund 211 1/2 Cent Sales Tax-Bond Reserve 512 Drainage Reserve 240 Car Rental Tax Fund(2,000,000 Reserve) 705 Star Center Bond Reserve Based on the above strategies, the investment portfolio reported herein is in compliance with the city's adopted investment policy. (2py , Lor a Getchell Assistant City Man Vicki Rodriquez Finance Administrator 3 1. PORTFOLIO SUMMARY The City's investment portfolio at the end of the fiscal year, September 30, 2005, is summarized by instrument and by maturity as shown below. DisWbution by Instrument %of Average Avg.Yield Instrument Cost Portfolio Yield Prior Year Agencies 37,266,784 68.09% 3.21% 1.77% Investment Pools 14,773,738 26.99% 3.57% 1.55% Money Market 2,692,318 4.92% 3.71% 1.52% Treasuries 0 0.00% n/a 1.72% CD's 0 0.00% n/a 0.95% 54,732,840 100.00% This table shows that the majority of City funds, approximately 68% are invested in government agencies, and the remaining 32°x6 in money market funds and local government investment pools. As of the date of this report, the weighted average yield on the portfolio was 3.33%. When compared to prior year's levels, the yield on our portfolio has trended up significantly. The Federal Reserve began raising interest rates during the last quarter of FY04 and continued to raise short-term rates throughout FY05. Our portfolio average yield has almost doubled over the past year. Distribution by MaWHW #of days Cost %of Portfolio 1 -30 $19,277,955 35.2% 31 -90 4,886,434 8.9% 91 - 180 8,673,941 15.8% 181-365 12,757,792 23.3% Over 365 9.136.716 16.7% $54,732,840 100.0% This table reflects the degree of liquidity in the City's portfolio with the ability to access over 60% of the portfolio within six months. This strategy was followed to meet cashflow requirements for construction projects, payroll, debt service, and other operating expenses. An additional 23% matures within one year. The remaining 17% is invested beyond one year. The longest investment in the current portfolio matures in 2 years. We were able to comply with our investment policy by using emergency funds, escrow funds, bond proceeds, and reserve funds for the General fund, Water and Sewer fund, and the Car Rental fund. The weighted average maturity on our portfolio is currently 180.13 days. By Instrument By Days to Maturity 5% 17% 27% k35% ■ 1-30 EAciencies ■ 31-90 ■Investment Pools ■ 91-180 ■Money Market % ■ 181-365 ■Over 365 16% 4 City of Euless Pooled Portfolio Summary for Quarter Ending September 30, 2005 Cost Book Market Principal Only Value value Investments at June 30,2005 $56,873,243.50 $56,898,718.82 $56,763,913.43 Investment Purchases 16,373,233.95 Investment Maturities (18,814,740.19) Dividends Reinvested(Pools) 168,001.36 Investments at September 30,2005 $54,599,738.62 $54,613,058.23 $54,435,917.64 Loretta Getchell Assistant City Mane er Vicki Rodriquez Finance Administrator 5 Summary of Investments by Fund The following is a summary of cash and investments held by each fund at June 30,2005 and September 30,2005. The changes include all investment purchases,maturities and expenses that occurred during the fourth quarter of FY2005. Cash&Investment Cash&Investment Increase/ at Market Value at Market Value Decrease 06/30/05 09/30/05 In Fund 101 General Fund 6,906,074.65 5,336,662.99 (1,569,411.66) Operating Expenses 102 General Fund-Emergency 499,830.00 500,000.00 170.00 103 General Fund-Contingency 495,300.00 496,850.00 1,550.00 201 Hotel-Motel Tax Fund 58,592.99 84,618.89 26,025.90 Occupancy Tax 210 1/2 Cent-Operations Fund 942,627.52 1,012,619.74 69,992.22 Operating Revenues 211 1/2 Cent-Debt reserve 967,758.25 950,618.00 (17,140.25) 220 CCPD 346,602.47 404,510.53 57,908.06 Operating Revenues 230 Police Drug-DEA Awards 205,751.70 207,242.95 1,491.25 231 Police Drug-State Awards 15,015.49 29,242.26 14,226.77 240 Car Rental Tax Fund 6,102,590.68 8,634,681.42 2,532,090.74 Car Rental Receipts 301 Developer's Escrow Fund 1,452,474.98 1,452,771.50 296.52 305 Streets&Drainage-CIP 10,700,625.95 10,326,360.83 (374,265.12) Capital Outlay 310 1/2 Cent Sales Tax-CIP 339,827.86 335,689.41 (4,138.45) 320 General CIP Fund 42,519.06 42,741.11 222.05 325 Police Facility CIP 133,848.59 133,255.26 (593.33) 330 Car Rental CIP Fund 1,230,566.42 612,863.50 (617,702.92) Capital Outlay 401 Debt Service/General 1,619,013.04 558,903.54 (1,060,109.50) Debt Service Payments 402 Star Center Debt Service 462,284.65 125,097.34 (337,187.31) Debt Service Payments 501 Water&Sewer Fund 4,300,211.39 5,459,434.69 1,159,223.30 Operating Revenues 502 Water&Sewer-CIP 5,299,512.10 4,122,981.87 (1,176,530.23) Capital Outlay 503 Water&Sewer-Bond Reserve 402,406.97 402,846.41 439.44 505 Water Impact Fees 2,400,476.10 2,440,869.42 40,393.32 Operating Revenues 506 Water&Sewer-Debt Service 304,876.89 11,614.16 (293,262.73) Debt Service Payments 507 Water&Sewer-Emergency 495,350.00 496,950.00 1,600.00 508 Wastewater Impact Fees 1,168,365.18 1,173,518.31 5,153.13 510 Drainage Utility 621,475.99 521,630.05 (99,845.94) Debt Service Payments 511 Drainage-CIP 1,205,391.65 1,164,976.45 (40,415.20) Capital Outlay 512 Drainage Reserve 231,119.00 231,119.00 0.00 520 Recreation Classes Fund 336,226.63 306,830.93 (29,395.70) Operating Expenses 521 Arbor Daze Fund 108,996.30 109,372.92 376.62 530 Softball World Operations 438,266.07 420,768.70 (17,497.37) Operating Expenses 540 Golf Course Operations (146,957.54) 35,502.77 182,460.31 Operating Revenues 541 Golf Course CIP 247,011.39 2,208.42 (244,802.97) Debt Service Payments 550 Parks @ Texas Star 196,426.62 179,256.43 (17,170.19) Operating Expenses 552 Athletic Complex CIP 94,934.68 9,134.43 (85,800.25) Capital Outlay 601 Equipment Replacement 1,320,082.75 1,536,915.82 216,833.07 Monthly Transfers 610 Health Insurance Fund 1,244,728.91 976,568.32 (268,160.59) Insurance Claims 615 Risk Management Fund 773,252.28 870,179.49 96,927.21 Monthly Transfers 705 Star Center Reserve Fund 1,959,638.34 1,962,314.65 2,676.31 TOTAL: 55,523,096.00 53,679,722.51 (1,843,373.49) 6 11. PERFORMANCE SUMMARY Cash and Investments Balances-Full utilization of funds and minimization of idle cash is necessary to pursue additional interest income revenues for the City. The average percent of invested funds is 101% for FY04. The monthly data below shows the continued utilization of City funds through investments. Consolidated Invested Percentage Cash BalAnce Invested October-03 ($286,864) $46,221,507 101% November-03 291,630 46,124,573 100% December-03 (85,087) 48,489,552 102% January-04 (493,181) 50,327,390 102% February-04 12,551 50,970,449 100% March-04 (30,884) 43,770,911 100% April-04 75,797 45,158,854 100% May-04 85,615 46,484,283 100% June-04 (596,644) 46,730,970 102% July-04 (124,824) 54,187,023 100% August-04 194,383 55,567,464 100% September-04 (871,827) 55,181,784 102% Average (152,445) 49,101,230 101% Consolidated Invested Percentage Cash Balance Invested October-04 ($300,913) $56,786,618 101% November-04 119,644 55,510,019 102% December-04 1,228,105 58,153,102 99% January-05 310,253 60,339,222 100% February-05 (217,334) 62,447,315 100% March-05 (47,312) 54,491,543 100% April-05 (288,326) 56,505,801 101% May-05 268,353 56,644,277 100% June-05 (356,454) 56,961,530 101% July-05 152 55,143,694 100% August-05 (569,639) 55,407,807 101% September-05 (299,336) 54,732,840 101% Average (12,734) 56,926,981 101% This graph shows how a greater portion of the City's funds continue to be invested, always in pursuit of 100%. 105.00% v 100.00% 95.00% 0 90.00% a 85.00% 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 Fiscal Year 7 Cash management performance-effectiveness of the cash management program has been measured utilizing actual figures for FY05 as shown below: Average City's Number Estimated 90 day Invested Days in Interest Month T81II Yield Balance Month Eaminas October-04 1.76% $56,786,618 31 $84,884 November-04 2.09% $55,510,019 30 $95,356 December-04 2.21% $58,153,102 31 $109,153 January-05 2.35% $60,339,222 31 $120,430 February-05 2.50% $62,447,315 28 $119,762 March-05 2.78% $54,491,543 31 $128,660 ApriW5 2.82°x6 $56,505,801 30 $130,970 May-05 2.87% $56,644,277 31 $138,072 June-05 3.01% $56,961,530 30 $140,921 July-05 3.07% $55,143,694 31 $143,782 August-05 3.50% $55,407,807 31 $164,705 September-05 3.47% $54.732.840 30 $156,101 Average 2.70% 56,926,981 $127,733 Estimated eamings at benchmark yields: $1,532,796 Actual FY05 interest income(pre-audit): 1 27 $ , 8,310 Earnings below benchmark: ($254,486) Key rate comparisons-an objective of the investment policy is for the City's average rate of return to consistently exceed that of the three month U.S.Treasury Bili,as stated before. Therefore, they have been presented for comparative purposes below. Benchmark 90 day City's Avg. Month T-bill yield Portfolio Yid Difference Oc10ber-04 1.76% 1.78% 0.02% November-04 2.09% 1.81% -0.28% December-04 2.21% 1.96% -0.25% January-05 2.35% 2.13% -0.22% February-05 2.50% 2.22% -0.28% March-05 2.78% 2.40% -0.38% April-05 2.82% 2.49% -0.33% May-05 2.87% 2.62% -0.25% June-05 3.01% 2.86% -0.15% July-05 3.07% 3.06% -0.01% August-05 3.50% 3.24% -0.26% September-05 3.47% 3.33% .14% Average 2.70% 2.49% -0.21% The economy began to gained momentum during the fiscal year. The Fed raised interest rates by 200 basis points during this fiscal year. The average 90 day T-Bill rose proportionately with the Fed funds rate. When compared to prior year, the 90 day T-Bill showed an average increase of 160 basis points. Although the City's average yield has also increased from an average of 1.70% in FY04, to an average of 2.49% in FY05, it has not yet reached the benchmark level, as shown above. 8 Ill. INTEREST INCOME SUMMARY FY00 Audit $2,447,214 FY01 Audit $2,891,077 FY02 Audit $1,404,257 FY03 Audit $929,045 FY04 Audit $694,038 FY05 Un-audited $1,278,310 FY05 Budgeted $1,042,752 Interest income Summary $3,500,000 $3,000,000 $2,5W ,OW W $2,000,000 $1'500'000 $1,000,000 s5oo 000 $o FY00 Audit FY01 Audit FY02 Audit FY03 Audit FY04 Audit FY05 Un- FY05 audited Budgeted Interest income exceeded the budgeted level for fiscal year 2005. When compared to prior year, interest earnings have increased. This increase can be attributed to higher interest rates throughout the fiscal year due to Fed rate hikes. Market Rate Outlook - The most recent Federal Reserve Survey of Professional Forecasters predicts that real GDP growth will increase at 3.7% in the first quarter of 2006, and then moderate around 3.3%%for the rest of the year. The forecasters predict that unemployment will decline from an average of 5.1% in 2005 to 4.9% in 2006. They expect CPI inflation will moderate at around 2.4% in 2006 after averaging 3.9%in 2005. Over the next 10 years,the survey predicts that the CPI will average 2.5% The most recent survey of economists predicts average GDP growth of 3.3% in 2006. The forecasters predict that the Federal Reserve will raise rates another 50 basis points to 4.75% by the end of 2006, but will reverse course and begin lowering rates sometime in the next two years. The forecasters also predict that oil prices will decline to $53 per barrel by the end of 2006, and natural gas prices will decline from $12 per MMBtu at the end of 2005 to $9 per MMBtu at the end of 2006. Natural gas prices were elevated due to the disruptions caused by the recent hurricanes. dousing starts are expected to decline and the average increase in the national house price index is projected to slow from a rate of 10%growth in 2005 to a rate of 4.9% in 2006. *Source: GFOA, Public Investor January 6,2006 9 Interest Income By Fund For Fiscal Year Ending September 2005 # Fund FY 04 FY 04 Actual FY 05 FY 05 Actual Diff FY05 Budget (Audited) Budget (Unaudited) Bud_-Act 101 General $175,000 $147,204 $175,000 $210,303 $35,303 201 Hotel/Motel 3,000 994 500 1,828 $1,328 210 Half Cent Sales TaX-Operations 20,000 9,054 12,000 29,917 $17,917 211 Half Cent Sales Tax-Reserve 0 9,241 0 0 0 220 Crime Control Prevention District 10,000 5,138 7,500 9,449 $1,949 230 Euless DEA Fund 5,000 1,934 5,000 4,654 ($346) 231 Police State Awards 0 106 0 292 292 232 FW DEA Task Force-(Euless Portloi 0 100 0 15 $15 235 LLEBG 02/03 0 118 0 0 0 240 Car Rental 200,000 123,204 200,000 182,149 ($17,851) 301 Developers Escrow 20,000 20,785 20,000 27,156 $7,156 305 Streets CIP 122,152 48,930 292,213 248,526 ($43,687) 310 Half Cent Sales Tax -CIP 2,000 4,931 2,000 8,934 $6,934 320 G.O.CIP 0 282 0 681 681 325 Police Facility CIP 263 264 729 729 0 330 Car Rental CIP 0 24,817 0 34,561 $34,561 401 GO Debt Service 13,000 7,849 10,000 31,531 $21,531 402 Star Centre Debt 4,000 4,260 4,000 7,761 $3,761 501 Water and Sewer 120,000 99,585 120,000 143,470 $23,470 502 Water and Sewer CIP 67,140 49,659 111,983 107,553 ($4,430) 503 Water and Sewer Reserve 2,000 2,424 2,000 5,539 3,539 505 Water Impact Fees 20,000 29,612 20,000 52,791 $32,791 506 Water and Sewer Debt Service 0 9,873 0 0 0 508 Wastewater Impact Fees 15,000 16,432 15,000 26,290 $11,290 510 Drainage 10,000 8,244 10,000 16,593 $6,593 511 Drainage Capital Projects 6,000 15,658 6,000 23,774 $17,774 520 Recreation Classes 2,500 2,567 2,500 7,798 $5,298 521 Arbor Daze 1,000 2 363 1,000 3,094 $2,094 530 Softball World 5,000 6,955 5,000 12,165 $7,165 550 Parks At Texas Star 0 1,175 1,000 4,073 $3,073 552 Athletic Complex Phase II - CIP 21,694 21,694 4,327 4,327 0 601 Equipment Replacement 8,000 11,736 8,000 27,999 $19,999 610 Health Insurance 0 465 0 27,422 $27,422 615 Risk MGMT/Workers Comp 7,000 6,385 7,000 16,934 $9,934 705 Star Centre Debt Reserve 0 6,883 0 0 0 Total $859,749 $700,919 $1,042,752 $1,278,310 1 1235,558 Note that interest earnings Is being earned on all Investable City funds and great efforts are pursued to meet their budgeted levels. This report points out that theun-audited interest earnings for the end of the fiscal year exceeded budgeted expectations. Several Funds were budgeted conservatively or not at all due to the volatility of their revenues and expenditures. However, these funds are used for investment purposes when they have funds available. These funds include Capital Improvement Projects, DEA Funds, and Grant Funds. 10 IV. COLLATERAL REVIEW The first and most important objective of investing public funds is safety. One way to insure the City's assets is to have them fully secured with "collateral". Acceptable collateral is defined in the City's investment policy, but generally consists of types of securities the City would invest in. Bank balances are monitored daily to assure their full coverage. The amount of collateral required by the depository bank varies with the expected level of deposits (typically correlates with large receipts such as property taxes, franchise taxes and investment maturities. CiY�`f�lr►t '��11�11 �►�is far ��O f9 It>�rtti�at� Pledging Safekeeping Pledged Sec. Security Market Value Inv. Value Difference Institution Location Descri tion Par Value (w/FDIC Ins.) @ Mat'y(P & 1) Over/(Under) Wachovia Bank FDIC FDIC $0 $100,000 $42,707 $57,293 Payroll $2,226 Operating $40,482 First Nat'l Texas Independent $1,500,000 $1,578,073 $343,937 $1,234,136 Bank Mid-Cities Bank FHLB Payroll $23,971 07/24/06 $500,000 Operating $173,724 FHLB Insurance $146,242 04/06/06 $500,000 FNMA 08/11/06 $500,000 Produced By: Finance Administrator Reviewed by: Assistant City Manager This review is practiced on a regular basis assuring coverage. Another regular practice is reviewing each individual instrument purchased. This assures compliance with the investment policy and consideration of the underlying security. This separate but thorough practice has protected the City's portfolio against derivative products. 11 V. BROKER SELECTION PROCESS This section of the report is to provide a brief explanation of the process undertaken to select brokers with which the City invests. The broker/dealer list is reviewed annually, and additions/deletions are made as necessary. The process is outlined below: 1. Brokers express an interest in doing business with the City's investment portfolio. 2. A questionnaire is sent to the broker which requests the necessary information for management to review including references, capital adequacy ratios, etc. 3. The Finance Administrator reviews all received questionnaires, summarizes the information and recommends the desired list of brokers with explanatory notes. 4. The list is presented to the investment committee annually for their approval. 5. All brokers are notified after the selection is complete. VI. SUMMARY The primary objectives of.compliance, safety, liquidity and yield have been achieved.for the reporting period as evidenced by this report. These objectives will continue to be pursued for the City of Euless as provided by the investment policy. This year proved to be another successful year for the investment program. The City of Euless, like all other local governments, is faced with the challenge of meeting benchmark levels triggered by the Fed's actions and meeting additional reporting requirements as stated by new legislation. Therefore, the City's investment program will continue to seek new techniques, instruments, etc. to enhance the return on the City's funds, as well as the return of all City funds. The investment committee met on January 19,2005 and reviewed the presented data for transmittal to the City Council. C6 - —4 Vicki Rodriquez Loretta Getchell Finance Administrator Assistant City Manager 12 Minutes-8/18/05 Investment Committee Meeting Members: Gary McKamie, Deputy City Manager Loretta Getchell, Assistant City Manager Vicki Rodriquez, Finance Administrator Bill Ridgway, Director of Economic Development Mary Lib Saleh, Mayor Committee members present included, Mayor Saleh, Bill Ridgway, Loretta Getchell, and Vicki Rodriquez. Vicki Rodriquez presented the second and third quarter investment report to the committee. The committee reviewed the reports. During the review, Vicki pointed out that interest earnings projected for year end would exceed budgeted amounts. This is attributed to several rate hikes by the Fed during FY05. Vicki reported that the market value of the portfolio at the end of the third quarter totaled $56,763,913 and a book value of$56,898,719. Vicki also reported that the average yield on the portfolio at the end of June was 2.86%, which is currently lagging the benchmark rate by 15 basis points. The weighted average maturity at the end of the quarter was 157 days. The minutes from the March 10, 2005 meeting were presented for approval. Bill Ridgway motioned to approve the minutes, Mayor Saleh seconded. The minutes were approved. Loretta Getchell motioned to approve the second and third quarter reports as presented, Mayor Saleh seconded. The motion passed. Mayor Saleh motioned to adjourned the committee meeting. Loretta Getchell seconded. Meeting was adjourned. 13