HomeMy WebLinkAboutFY 2007 Annual Investment Report i
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• 201 N. Ector Drive
Euless, TX 76039
�. vvww.euless.org
INVESTMENT COMMITTEE MEETING
01 /15/08
*Annual Review, FY 07
Introduction
I. Portfolio Summary
Il. 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, 2007
*General Discussion and Questions
To Investment Committee Members
From Vicki Rodriquez, Director of Finance
Date January 15, 2008
Subject FY07 Annual Investment Report
The City of Euless Investment Policy, adopted by the City Council in January 2007,
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 Fiscal Year 2006-07 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 annual report of FY 2007 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
06/30/2007, changes in market value, the market value at 09/30/2007, 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
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 Investment Officers as the responsible managers for the
City's investment program. The daily investment procedures are monitored by the City's Finance
department and reviewed by the investment officers. This report has been signed by each investment
officer as required by the Public Funds Investment Act and the City's investment policy.
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 by the Federal reserve Bank; 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 2006-07.
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 Appendix E). Furthermore 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 510 Drainage Utility
201 Hotel-Motel Tax Fund 520 Recreation Classes Fund
202 Juvenile Case Fund 521 Arbor Daze Fund
210 1/2 Cent Sales Tax-Operations 530 Softball World-Operations
220 Crime Control&Prevention District 540 Golf Course Operations
230 Police Drug-DEA Awards 550 Athletic Complex Operations
231 Police Drug-State Awards 601 Equipment Replacement Fund
240 Car Rental Tax Fund 610 Health Insurance Fund
501 Water&Sewer Fund 615 Risk Management Fund
-Funds for Capital Improvement Projects(CIP) and Special Purposes may purchase securities which allow for
flexibility and unanticipated project outlays by having a portion of their investments in highly liquid securities
(See Appendix E). The stated final maturity dates of securities held should not exceed the estimated project
completion date. These funds include:
301 Developer's Escrow Fund 330 Car Rental CIP
305 Streets&Drainage-CIP 502 Water&Sewer-CIP
310 1/2 Cent Sales Tax-CIP 505 Water Impact Fees Fund
320 General Capital Projects Fund 508 Wastewater Impact Fees Fund
325 Police Facility Construction Fund 511 Drainage 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 541 Golf Course 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 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.
Loretta Getchell
Deputy City Manager
v
Vicki Rodriquez
Director fo Finance
3
I. PORTFOLIO SUMMARY
The City's investment portfolio at the end of the fiscal year, September 30, 2007, is summarized by
instrument and by maturity as shown below.
Distribution by Instrument
% of Average Avg. Yield
Instrument Cost Portfolio Yield Prior Year
Agencies 47,690,578 76.75% 5.19% 4.88%
Investment Pools 11,691,506 18.82% 5.13% 5.23%
Money Market 2,753,404 4.43% 4.89% 5.26%
62,135,488 100.00%
This table shows that the majority of City funds, approximately 77% are invested in government
agencies, and the remaining 23% in money market funds and local government investment pools.
As of the date of this report, the weighted average yield on the portfolio was 5.16%. When
compared to prior year's levels, the yield on our portfolio has trended up slightly. The Federal
Reserve left rates unchanged for most of the fiscal year. This allowed our portfolio average to
increase by 20 basis points, as older investments matured and were reinvested at higher rates.
Distribution by Maturity
# of months Cost % of Portfolio
1 month $14,949,101 24.1%
3 months 7,360,051 11.8%
3-6 months 5,419,682 8.7%
6-9 months 7,155,704 11.5%
9-12 months 3,850,223 6.2%
12-18 months 16,102,157 25.9%
Over 18 months 7,298,559 11.7%
$62,135,478 100.0%
This table reflects the degree of liquidity in the City's portfolio with the ability to access over 25% of
the portfolio within 30 days, with an additional 20% available within 6 months. This strategy was
followed to meet cashflow requirements for construction projects, payroll, debt service, and other
operating expenses. An additional 18% matures within one year. Currently, the city has 26% of
the porfolio invested between 12-18 months to take advantage of yields in this area of the curve.
The remaining 11% is invested beyond eighteen months. We were able to comply with our
investment policy by using emergency funds, escrow funds, bond proceeds, gas bonus money, and
excess reserve funds. The weighted average maturity on our portfolio is currently 271.36 days.
By Instrument By Months to Maturity
4%
12% 24% ■1 month
19% ®3 months
■Agencies u
■3-6 months
25% E16-9 months
❑Investment Pools
Money Market 12% ■9-12 months
❑12-18 months
077% 6% 9%
12% ■Over 18 months
4
City of Euless
Pooled Portfolio Summary
for Quarter Ending
September 30, 2007
Cost Book Market
Principal Only Value Value
Investments at June 30,2007 $61,501,298.99 $61,680,292.05 $61,607,137.52
Investment Purchases/Dividends 23,888,815.53
Investment Maturities (23,543,828.81)
Investments at September 30,2007 $61,846,285.71 $62,054,335.59 $62,161,503.63
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4U&e
Loretta Getchell
Deputy City Manager
Vicki Rodriquez \\
Director of Finance
5
Summary of Investments by Fund
The following is a summary of cash and investments held by each fund at June 30, 2007 and September 30, 2007. The changes
include all investment purchases, maturities, revenues, expenses, and year-end accruals that occurred during the fourth quarter of
FY2007.
Cash & Investment Cash & Investment Increase/
at Market Value at Market Value Decrease
6/30/2007 9/30/2007 In Fund
101 General Fund $ 11,845,650 $ 10,659,987 $ (1,185,663) Operating expenses
102 General Fund-Emergency 494,600 500,400 5,800
103 General Fund-Contingency 494,600 500,400 5,800
201 Hotel-Motel Tax Fund 146,051 168,549 22,498
202 Juvenile Case Fund (12,168) (11,223) 945
210 1/2 Cent-Operations Fund 1,698,404 2,063,253 364,849 Sales tax receipts
211 1/2 Cent-Debt Reserve 975,672 938,998 (36,674) Transfer Interest
220 CCPD 581,493 595,275 13,782
230 Police Drug- DEA Awards 198,519 194,015 (4,504)
231 Police Drug-State Awards 117,310 119,064 1,755
240 Car Rental Tax Fund 8,308,282 11,490,840 3,182,558 Car rental receipts
301 Developer's Escrow Fund 1,557,625 1,595,408 37,783 Interest
305 Streets& Drainage-CIP 4,093,991 3,904,086 (189,905) Capital Outlay
310 1/2 Cent Sales Tax-CIP 514,250 436,932 (77,319) Capital Outlay
320 General CIP Fund 45,167 252,910 207,742 Transfer for Capital
325 Police Facility CIP 119,729 120,592 862
330 Car Rental CIP Fund 1,071,685 931,580 (140,105) Capital Outlay
401 Debt Service/General 1,730,175 787,061 (943,114) Debt Service Payments
402 Star Center Debt Service 509,237 156,072 (353,166) Debt Service Payments
501 Water& Sewer Fund 4,033,011 3,721,069 (311,942) Operating expenses
502 Water&Sewer-CIP 4,278,933 3,477,680 (801,253) Capital Outlay
503 Water&Sewer-Bond Reserve 405,015 411,319 6,304
504 Service Center Fund - 139,065 139,065
505 Water Impact Fees 2,624,990 2,620,218 (4,772)
506 Water&Sewer-Debt Service 237,439 21,626 (215,814) Debt Service Payments
507 Water&Sewer-Emergency 499,550 500,000 450
508 Wastewater Impact Fees 1,200,447 1,148,566 (51,882) TRA sewer payment
510 Drainage Utility 575,735 512,992 (62,743) Operating expenses
511 Drainage-CIP 880,424 811,452 (68,972) Capital Outlay
512 Drainage Reserve 231,119 231,119 0
520 Recreation Classes Fund 295,002 292,747 (2,255)
521 Arbor Daze Fund 82,836 82,812 (24)
530 Softball World Operations 159,228 182,702 23,474 Operating revenue
531 Softball World CIP 43,065 32,482 (10,584) Debt Service Payments
540 Golf Course Operations 451,716 668,769 217,053 Operating revenue
541 Golf Course CIP 1,669,479 1,524,898 (144,581) Debt Service Payments
550 Parks @ Texas Star 186,236 180,819 (5,417) Operating expenses
552 Athletic Complex CIP 793,956 801,266 7,310 Interest
601 Equipment Replacement 1,310,359 1,318,455 8,095
610 Health Insurance Fund 2,824,833 2,976,821 151,987 Interest
615 Risk Management Fund 1,121,913 1,181,045 59,132 Operating transfers
705 Star Center Reserve Fund 1,971,108 1,971,140 32
TOTAL: $ 60,366,669 $ 60,213,257 $ (153,412)
6
II. PERFORMANCE SUMMARY
Cash and Investments Balances-Full utilization of funds and minimization of idle cash is necessary to
pursue additional interest income revenues for the City. The average percent of invested funds is
101% for FY07. The monthly data below shows the continued utilization of City funds through
investments.
Consolidated Invested Percentage
Cash Balance Invested
October-05 $132,794 $54,238,515 100%
November-05 (326,002) 55,648,354 101%
December-05 (2,395) 58,599,900 100%
January-06 396,787 61,252,609 100%
February-06 (57,712) 63,385,564 100%
March-06 126,329 55,060,432 100%
April-06 (428,740) 56,134,626 101%
May-06 101,279 56,206,188 100%
June-06 83,624 56,902,324 100%
July-06 118,700 58,818,663 100%
August-06 (1,601,185) 60,468,741 103%
September-06 (913,370) 59,204,305 102%
Average (197,491) 57,993,352 101%
Consolidated Invested Percentage
Cash Balance Invested
October-06 $7,395 $59,031,125 100%
November-06 (238,651) 59,808,220 101%
December-06 1,151,991 60,384,528 99%
January-07 (462,691) 63,837,026 101%
February-07 (431,899) 66,905,950 101%
March-07 (433,908) 58,983,335 101%
April-07 (291,575) 59,854,283 100%
May-07 246,063 59,921,560 100%
June-07 (117,086) 61,801,852 100%
July-07 486,366 61,261,826 100%
August-07 (324,752) 62,658,511 100%
September-07 (3,100,784) 62,135,488 105%
Average (292,461) 61,381,975 101%
This graph shows how a greater portion of the City's funds continue to be invested, always in pursuit of
100%.
105.00%
N 100.00% as
95.00%
c :
L
90.00% _ --
a
85.00%
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Fiscal Year
7
Cash management performance - effectiveness of the cash management program has been
measured utilizing actual figures for FY07 as shown below:
Average City's Number Estimated
90 day Invested Days in Interest
Month TBill Yield Balance Month Earnings
October-06 5.02% $59,031,125 31 $251,683
November-06 5.06% $59,808,220 30 $248,737
December-06 4.96% $60,384,528 31 $254,376
January-07 5.08% $63,837,026 31 $275,426
February-07 5.16% $66,905,950 28 $264,838
March-07 4.93% $58,983,335 31 $246,970
April-07 4.84% $59,854,283 30 $238,105
May-07 4.83% $59,921,560 31 $245,810
June-07 5.70% $61,801,852 30 $289,537
July-07 4.91% $61,261,826 31 $255,470
August-07 4.26% $62,658,511 31 $226,704
September-07 3.95% $62,135,488 30 $201,728
Average 4.89% 61,381,975 $249,949
Estimated earnings at benchmark yields: $2,999,384
Actual FY07 interest income (un-audited) $3,063,471
Earnings over benchmark: $64,087
Key rate comparisons - an objective of the investment policy is for the City's average rate of
return to consistently exceed that of the three month U.S. Treasury Bill, as stated before.
Therefore, they have been presented for comparative purposes below.
Benchmark
90 day City's Avg.
Month T-bill yield Portfolio Yld Difference
October-06 5.02% 4.98% -0.04%
November-06 5.06% 5.03% -0.03%
December-06 4.96% 5.04% 0.08%
January-07 5.08% 5.08% 0.00%
February-07 5.16% 5.12% -0.04%
March-07 4.93% 5.12% 0.19%
April-07 4.84% 5.16% 0.32%
May-07 4.83% 5.17% 0.34%
June-07 5.70% 5.21% -0.49%
July-07 4.91% 5.21% 0.30%
August-07 4.26% 5.23% 0.97%
September-07 3.95% 5.25% 1.30%
Average 4.89% 5.13% 0.24%
During FY07, the Federal Reserve took a wait and see approach with the U.S. Economy.
Early in the fiscal year, the Fed left the Fed Funds rate level at 5.25%. However, the
downward spiral of the housing market, increasing oil prices, and sluggish growth placed
increasing concerns on the financial markets. Although there was no change in actual Fed
Policy until September, when the fed cut rates by 50 basis points, the markets were very
volatile during the year as reflected by the change in the 90 day T-Bill rate. This allowed the
city's portfolio to surpass the benchmark rate by an average of 24 basis points for the year.
8
Ill. INTEREST INCOME SUMMARY
FY03 Audit $929,045
FY04 Audit $694,038
FY05 Audit $1,278,310
FY06 Audit $2,356,789
FY07 Un-audited $3,063,471
FY07 Budgeted $1,625,024
Interest Income Summary
$3,500,000
$3,000,000 TP
c
$2,500,000
E $2,000,000
M
LU $1,500,000
a� $1,000,000
c
$500,000
$0
FY03 Audit FY04 Audit FY05 Audit FY06 Audit FY07 Un-audited
Interest income exceeded the budgeted level for fiscal year 2007. When compared to prior year,
interest earnings have increased. This increase can be attributed to higher weighted average
yield on the city's portfolio and an increase in the total portfolio holdings.
Market Rate Outlook - Fed Chairman Ben Bernanke is finding that following in Alan Greenspan's
shadow isn't that easy. In his economic speech last week, you could hear the nervousness and
fear in his voice as the Fed is facing the reality of the credit crisis, rising oil prices, and the
continuing saga of housing market slump. Many major banks and brokerage firms have seen
their shares fall 40 to 80% since last summer, and many lenders have closed up shop. Many
believe that the Fed is partially responsible for this ''crash". They raised rates too far - inverted
the yield curve - thereby causing this foreclosure and delinquency driven slowdown.
Pending home sales were weaker than expected recently with a 2.6% drop. Consumer
creditcame in nearly twice expectations, but in an economic downturn, increase borrowing is not
necessarily a good thing. The government report, scheduled to be released January 15, is
expected to show that retail sales failed to grow in December for the first time in six months.
Future contracts show a 50% chance that the Fed will cut its benchmark rate by 75 basis points
at its meeting on the 30th to prevent rising U.S home foreclosures and bank writedowns, which
could trigger a recession.
There is a lot of nervousness in the market with the numbers coming out and the credit markets
continue to be in a dysfunctional state. Many economist believe that the Fed is getting ahead of
itself. They are not allowing the results of there current actions to take effect. There is a
definitive lag in Fed policy from the time of implementation to realized results. We will continue
to monitor economic data as it is released, and the effects it will have on our investment
Parninn.q
*Source:
First Southwest Asset Management Economic Updates
Public Investor
Bond Market Review, Samco Capital Markets
9
Interest Income By Fund
For Fiscal Year Ending September 2007
# Fund FY 06 FY 06 Actual FY 07 FY 07 Actual Diff FY07
Budget Audited Budget (Unaudited) Bud.-Act.
101 General $215,000 $416,206 $405,000 $628,960 $223,960
201 Hotel/Motel 1,000 4,401 4,500 6,983 $2,483
210 Half Cent Sales Tax-Operations 15,000 51,915 40,000 76,830 $36,830
211 Half Cent Sales Tax-Reserve 15,000 43,286 40,000 48,973 $8,973
220 Crime Control Prevention District 9,500 18,535 13,500 27,996 $14,496
230 Euless DEA Fund 5,000 8,899 6,750 10,309 $3,559
231 Police State Awards 0 3,810 0 6,733 $6,733
240 Car Rental 150,000 289,487 202,500 503,415 $300,915
301 Developer's Escrow 20,000 59,190 60,000 73,908 $13,908
305 Streets CIP 75,000 368,061 98,611 217,049 $118,438
310 Half Cent Sales Tax-CIP 2,000 19,879 15,750 27,106 $11,356
320 G.O. CIP 0 1,202 1,125 1,659 $534
325 Police Facility CIP 0 1,292 1,534 1,534 $0
330 Car Rental CIP 0 118,194 45,000 80,853 $35,853
401 GO Debt Service 15,000 49,853 45,000 61,805 $16,805
402 Star Centre Debt 4,000 14,600 13,500 18,405 $4,905
501 Water and Sewer 140,000 269,649 225,000 303,261 $78,261
502 Water and Sewer CIP 57,534 172,714 103,199 216,700 $113,501
503 Water and Sewer Reserve 0 19,641 17,000 24,016 $7,016
504 Service Center Fund 0 0 0 807 $807
505 Water Impact Fees 30,000 94,077 90,000 126,719 $36,719
508 Wastewater Impact Fees 15,000 46,163 45,000 57,018 $12,018
510 Drainage 10,000 39,914 27,000 39,025 $12,025
511 Drainage Capital Projects 6,000 43,111 0 50,146 $50,146
520 Recreation Classes 3,500 13,530 10,125 14,351 $4,226
521 Arbor Daze 0 4,855 4,500 5,250 $750
530 Softball World 7,000 16,158 9,000 9,225 $225
531 Softball World Debt 0 1,869 0 4,124 $4,124
540 Golf Course 0 7,019 13,680 17,388 $3,708
541 Golf Course Debt 0 25,044 0 99,701 $99,701
550 Parks At Texas Star 2,000 8,799 6,750 10,285 $3,535
552 Athletic Complex Phase II - CIP 0 9,345 0 45,848 $45,848
601 Equipment Replacement 10,000 67,398 27,000 71,703 $44,703
610 Health Insurance 5,000 39,710 27,000 129,071 $102,071
615 Risk MGMT/Worker's Comp 12,000 35,896 27,000 46,314 $19,314
Total $824,534 $2,383,702 $1,625,024 $3,063,471 $1,438,447
Note that interest earnings is being earned on all investable City funds and great efforts are pursued to meet their
budgeted levels. This report points out that the un-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, Grant Funds, and Debt Service 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.
City of Euless
Collateral Analysis for
Cash & C.D. Investments
as of 09/30/07
Pledging Safekeeping Pledged Sec. Security Market Value Inv. Value Difference
Institution Location Description Par Value (w/FDIC Ins.) (a Mat'y (P & 1) Over/(Under)
First Nat'l FDIC FDIC $0 $100,000 $71,806 $45,863
Bank Mid-Cities Payroll $767
Operating $45,992
Insurance $25,814
Frost Bank Federal Reserve $5,625,000 $5,182,005 $537,283 $4,673,992
Bank GNMA Payroll $20,446
4/20/2037 $625,000 Operating $409,992
FHLMC Insurance $106,845
10/1/2036 $5,000,000
Produced By.
Director of Finance
Reviewed by:
Deputy 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 city currently maintains a list of
eight broker/dealers. 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 Department 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 15, 2008 and reviewed the presented data for
transmittal to the City Council.
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Vicki Rodriquez Loretta Getchell
Director of Finance Deputy City Manager
12
Minutes - 9/12/07 Investment Committee Meeting
Members: Gary McKamie, City Manager
Loretta Getchell, Deputy City Manager
Vicki Rodriquez, Director of Finance
Bill Ridgway, Director of Economic Development
Mary Lib Saleh, Mayor
Committee members present included, Mayor Saleh, Gary McKamie, Loretta Getchell, and Vicki
Rodriquez. Committee members absent included Bill Ridgway.
Vicki Rodriquez presented the second quarter investment report to the committee. The committee
reviewed the report. Vicki reported that 22% of the city's portfolio is invested in local government
investment pools and money market fund, providing the city with the liquidity they need to meet cash
flow requirements. Vicki reported that the market value of the portfolio at the end of the second
quarter totaled $60,249,231 and a book value of $60,306,131. Vicki also reported that the weighted
average yield on the portfolio at the end of March was 5.12%, which is up when compared to the
prior quarter. The weighted average maturity at the end of the quarter was 276 days. The city
remains 100% invested.
The minutes from the March 7, 2007 meeting were presented for approval. Mayor Saleh motioned to
approve the minutes, Loretta Getchell seconded. The minutes were approved.
Mayor Saleh motioned to approve the second quarter report as presented, Loretta Getchell
seconded. The motion passed.
Vicki Rodriquez also presented the third quarter investment report to the committee. The committee
reviewed the report. Vicki reported that 21% of the city's portfolio is invested in local government
investment pools and money market fund, providing the city with the liquidity they need to meet cash
flow requirements. Vicki reported that the market value of the portfolio at the end of the third quarter
totaled $61,607,138 and a book value of $61,680,292. Vicki also reported that the weighted average
yield on the portfolio at the end of June was 5.21%, which is fairly level when compared to the prior
quarter, but surpassed the benchmark rate by 51 basis points. The weighted average maturity at the
end of the quarter was 286 days. The city remains 100% invested. It was also noted that interest
earnings will surpass budget due to the increase in the average rate of return.
Gary McKamie motioned to approve the third quarter report as presented, Mayor Saleh seconded.
The motion passed.
Loretta Getchell motioned to adjourned the committee meeting. Gary McKamie seconded.
Meeting was adjourned.
13
APPENDIX
City of Euless
Investment Portfolio
June 30,2007
**Market Prices Provided by Coastal Securities
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Inv. Cusip Purchase Maturity Call Term Days Price Par Principal Next Int Interest Yield To Coupon Seller Unamortized Book Market
Tvoe Number Date Date Date in days) Accrued Per 100 Value Invested Payment Accrued Maturity Rate Inst. Discount Premium Prem/Disc Value Value
U.S.Govemment Agencies
Discount Notes
FMACON 313396PN7 04/20/07 11/21/07 NIA 180 70 97.0079 500,000.00 485,039.58 14,960.42 5,817.94 5.22% MERRILL 490,857.52 489,950.00
Agency Coupon Notes
FHLB 3133X32S1 11/07/05 07/13/07 01113/06 180 167 98.6500 250,000.00 247,125.00 5,000.00 4,638.89 4.85% 4.000% Duncan 2,875.00 250,000.00 249,950.00
FHLB 3133XCBM4 07/10/05 07/13/07 07113/06 180 167 98.5000 40,000.00 39,400.00 802.00 744.08 5.56% 4.010% FSW 600.00 40,000.00 39,980.00
FNMA 3136F7EB9 01/19/06 07/27/07 04127/06 180 153 99.4219 651,000.00 647,236.41 13,833.75 11,758.69 4.65% 4.250% MERRILL 3,763.59 651,000.00 650,414.10
FNMA 31359MG98 02/09/06 08/09/07 05109/06 180 141 100.0000 500,000.00 500,000.00 12,625.00 9,889.56 5.05% 5.050% MERRILL 500,000.00 499,750.00
FHLB 3133XCHT3 08/10/05 08/10/07 11/10/05 180 140 100.0000 500,000.00 500,000.00 12,500.00 9,722.22 4.00% 5.000% FSW 500,000.00 499,750.00
FHLB 3133MWP47 01/23/07 08/28/07 N/A 180 122 98.8070 250,000.00 247,017.50 4,000.00 2,711.11 5.25% 3.200% SAMCO 2,982.50 (426.07) 249,573.93 249,125.00
FHLB 3133XK3S2 03/05/07 09/05/07 N/A 180 115 100.0000 1,000,000.00 1,000,000.00 25,750.00 16,451.39 5.15% 5.150% SAMCO 1,000,000.00 999,400.00
FNMA 31359MZB2 03/23/06 09/07/07 09/07/06 180 113 99.0625 800,000.00 792,500.00 17,500.00 10,986.11 5.05% 4.375% MERRILL 7,500.00 (833.34) 799,166.66 798,400.00
FHLB 3133XCY31 09/11/06 09/14/07 09/14106 180 106 99.1070 300,000.00 297,321.00 6,570.00 3,869.00 5.30% 4.380% DUNCAN 2,679.00 (446.50) 299,553.50 299,370.00
FHLB 3133XCS95 10/24/06 09/14/07 N/A 180 106 99.1250 440,000.00 436,150.00 9,350.00 5,506.11 5.26% 4.250% MERRILL 3,850.00 (700.00) 439,300.00 438,944.00
FNMA 31359MYZO 08/28/06 09/15/07 N/A 180 105 98.9720 500,000.00 494,860.00 10,625.00 6,197.92 5.27% 4.250% SAMCO 5,140.00 (856.66) 499,143.34 498,800.00
FNMA 31359MYZO 03/08/07 09/15/07 N/A 180 105 99.5170 500,000.00 497,585.00 10,625.00 6,197.92 5.20% 4.250% SAMCO 2,415.00 (805.00) 499,195.00 498,800.00
FNMA 31359MYZO 03/12/07 09/15/07 N/A 180 105 99.4960 500,000.00 497,480.00 10,625.00 6,197.92 5.27% 4.250% SAMCO 2,520.00 (840.00) 499,160.00 498,800.00
FHLB 3133X4EM9 02/09/06 09/17/07 03/17/06 180 103 97.0000 170,000.00 164,900.00 2,584.00 1,478.62 5.01% 3.040% DUNCAN 5,100.00 (536.84) 169,463.16 169,167.00
FNMA 31359MK51 01/04/07 09/28/07 N/A 180 92 100.0400 460,000.00 460,184.00 11,960.00 6,112.89 5.13% 5.200% SAMCO 184.00 184.00 460,184.00 459,724.00
FMAC 3128X4PK1 01/26/06 10/19/07 04/19106 180 71 99.7200 500,000.00 498,600.00 12,500.00 4,930.56 4.76% 5.000% VINING 1,400.00 (199.98) 499,800.02 499,350.00
FHLB 3133XFCUB 05/02/06 11/02/07 05/02/07 180 58 100.0000 500,000.00 500,000.00 13,000.00 4,188.89 5.20% 5.200% Duncan 500,000.00 499,650.00
FHLB 3133XFCU8 05/02/06 11/02/07 05/02/07 180 58 100.0000 500,000.00 500,000.00 13,000.00 4,188.89 5.20% 5.200% TEJAS 500,000.00 499,650.00
FHLB 3133XAKF3 12/02/05 11/23/07 02/23106 90 37 99.3500 500,000.00 496,750.00 6,562.50 2,697.92 4.80% 5.250% Vining 3,250.00 (565.20) 499,434.80 499,850.00
FHLB 3133XAKF3 01/10/06 11/23/07 02/23106 90 37 99.5000 400,000.00 398,000.00 5,250.00 2,158.33 4.76% 5.250% VINING 2,000.00 (363.62) 399,636.38 399,880.00
FHLB 3133XHXX5 01/22/07 11/27/07 NIA 180 33 99.9320 500,000.00 499,660.00 12,812.50 2,348.96 5.20% 5.125% SAMCO 340.00 (340.00) 499,660.00 499,450.00
FHLB 3133XDTU5 11/28/05 11/28/07 02128/06 180 32 100.0000 500,000.00 500,000.00 12,500.00 2,222.22 5.00% 5.000% FSW 500,000.00 499,150.00
FMAC 3128X3KU6 10/13/06 12/03/07 12/03106 180 27 98.5760 200,000.00 197,152.00 4,000.00 600.00 5.30% 4.000% DUNCAN 2,848.00 1,017.15 201,017.15 198,860.00
FHLB 3133XJ4T2 12/13/06 12/03/07 03113/07 170 27 100.0000 500,000.00 500,000.00 12,183.33 1,935.00 5.16% 5.160% SAMCO 500,000.00 499,450.00
FNMA 3136F2VR6 04/20/06 12/11/07 06/11/06 180 19 98.1250 500,000.00 490,625.00 10,000.00 1,055.56 5.20% 4.000% VINING 9,375.00 (2,343.75) 497,656.25 496,950.00
FNMA 31359MZN6 05/21/07 12/13/07 09113/07 180 17 99.8481 1,000,000.00 998,481.47 25,000.00 2,361.11 5.32% 5.000% COASTAL 1,518.53 (1,265.45) 998,734.55 998,100.00
FHLB 3133XJEKO 12/21/06 12/21/07 06/21/07 180 9 100.0000 500,000.00 500,000.00 13,000.00 650.00 5.20% 5.200% SAMCO 500,000.00 499,500.00
D FHLB 3133XC6K4 01/12/07 12/27/07 N/A 180 3 98.9700 500,000.00 494,850.00 10,250.00 170.83 5.21% 4.100% SAMCO 5,150.00 (2,340.90) 497,659.10 496,850.00
FHLB 3133XCBK4 01/24/07 12/27/07 N/A 180 3 98.9536 300,000.00 296,860.80 6,150.00 102.50 5.27% 4.100% DUNCAN 3,139.20 (1,426.90) 298,573.10 298,110.00
FHLB 3133XA3K1 06/28/06 12/28/07 N/A 180 2 98.3657 250,000.00 245,914.25 5,437.50 60.42 5.50% 4.350% FSW 4,085.75 (1,134.90) 248,865.10 248,725.00
FHLB 3133XE2WB 09/01/06 12/28/07 09128/06 180 2 99.4652 200,000.00 198,930.40 5,000.00 55.56 5.42% 5.000% COASTAL 1,069.60 (356.50) 199,543.50 199,550.00
FHLB 3133X5ZL5 12/18/06 01/30/08 04130/07 180 60 98.3279 250,000.00 245,819.75 4,400.00 1,466.67 5.08% 3.520% COASTAL 4,180.25 (1,929.33) 248,070.67 247,350.00
FNMA 31359MF65 08/18/06 02/01/08 02/01107 180 149 99.3125 837,000.00 831,245.63 19,878.75 16,455.19 5.25% 4.750% MERRILL 5,754.37 (2,237.78) 834,762.22 833,735.70
FHLB 3133XJWX2 03/01/07 02/01/08 N/A 330 119 100.0000 500,000.00 500,000.00 24,062.50 8,677.08 5.25% 5.250% SAMCO 500,000.00 499,300.00
FHLB 3133X3MH3 09/19/06 02/11/08 09/25106 180 139 97.2849 250,000.00 243,212.30 4,218.75 3,257.81 5.42% 3.375% COASTAL 6,787.70 (2,794.89) 247,205.11 247,025.00
FHLB 3133MVQA4 10/12/06 02/11/08 10/16/06 180 139 97.8200 375,000.00 366,825.00 6,562.50 5,067.71 5.21% 3.500% VINING 8,175.00 (3,576.58) 371,423.42 370,800.00
FHLB 3133MVZA4 11/16/06 02/15/08 NIA 180 135 97.9688 630,000.00 617,203.13 10,631.25 7,973.44 5.07% 3.375% MERRILL 12,796.87 (5,971.84) 624,028.16 622,251.00
FMAC 31315PKVO 02/15/07 02/15/08 08/15107 180 135 100.0000 500,000.00 500,000.00 13,150.00 9,862.50 5.26% 5.260% FSW 500,000.00 499,600.00
FMAC 3128X3402 10/12/06 02/25/08 11125106 90 35 99.7500 300,000.00 299,250.00 3,937.50 1,531.25 5.21% 5.250% VINING 750.00 (328.09) 299,671.91 299,880.00
FMAC 3128X0036 01/17/07 03/14/08 03/14107 160 106 97.8800 500,000.00 489,400.00 8,125.00 4,784.72 5.15% 3.250% VINING 10,600.00 (6,057.12) 493,942.88 492,800.00
FHLB 3133XK6R1 03/19/07 03/19/08 09119107 180 101 100.0000 500,000.00 500,000.00 13,000.00 7,294.44 5.20% 5.200% SAMCO 500,000.00 499,300.00
FHLB 3133MXAB5 05/25/06 03/24/08 05130/06 180 96 96.6780 500,000.00 483,390.00 8,437.50 4,500.00 5.30% 3.375% VINING 16,610.00 (6,040.00) 493,960.00 492,950.00
FNMA 3136F6Q85 08/16/06 03/24/08 09124106 180 96 98.2800 300,000.00 294,840.00 6,465.00 3,448.00 5.44% 4.310% DUNCAN 5,160.00 (2,172.64) 297,827.36 297,630.00
FHLB 3133X7HM9 10/26/06 03/28/08 NIA 180 2 98.1748 50,000.00 49,087.39 1,000.00 11.11 5.35% 4.000% FSW 912.61 (429.44) 49,570.56 49,515.00
FHLMC 3128X03N7 12/22/06 04/01/08 NIA 180 89 98.1630 500,000.00 490,815.00 8,750.00 4,326.39 5.00% 3.500% VINING 9,185.00 (5,166.54) 494,833.46 493,100.00
FHLB 3133X5CL0 12/18/06 04/14/06 01114107 180 76 97.6950 500,000.00 488,474.76 8,000.00 3,377.78 5.20% 3.200% COASTAL 11,525.24 (6,482.97) 493,517.03 491,850.00
FMAC 3128XOBE4 06/09/06 04/23/08 06113/06 180 67 96.5000 350,000.00 337,750.00 5,906.25 2,198.44 5.36% 3.375% VINING 12,250.00 (5,011.20) 344,988.80 344,610.00
FMAC 3128X3A52 05/25/06 04/28/08 05130/06 180 62 98.3838 200,000.00 196,767.60 4,000.00 1,377.78 5.40% 4.000% DUNCAN 3,232.40 (1,264.86) 198,735.14 199,380.00
FMAC 3128X44E8 08/28/06 04/28/08 10128/06 180 62 99.8594 500,000.00 499,296.88 13,375.00 4,606.94 5.43% 5.350% VINING 703.12 (333.02) 499,666.98 499,650.00
FHLB 3133XHLR1 11/14/06 05/14/08 05114/07 180 46 99.9375 500,000.00 499,687.50 13,250.00 3,386.11 5.34% 5.300% DUNCAN 312.50 0.00 500,000.00 499,500.00
FMAC 3128X1AW7 04/05/07 05/14/08 05114/07 180 46 98.6090 550,000.00 542,349.50 10,312.50 2,635.42 5.05% 3.750% MERRILL 7,650.50 (5,885.00) 544,115.00 542,685.00
FHLB 3133X751-4 11/29/06 05/19/08 12/04/06 180 41 98.7000 500,000.00 493,500.00 10,250.00 2,334.72 5.03% 4.100% VINING 6,500.00 (3,611.10) 496,388.90 494,750.00
FHLB 3133XKV28 06/04/07 06/04/08 12104107 180 26 100.0000 1,000,000.00 1,000,000.00 26,350.00 3,806.11 5.27% 5.270% UBS 1,000,000.00 998,900.00
FNMA 3136F3XS0 01/10/07 06/12/08 06112107 180 18 97.1875 1,000,000.00 971,875.00 15,000.00 1,500.00 5.07% 3.000% MERRILL 28,125.00 (18,198.51) 981,801.49 978,900.00
FMAC 3128X1HV2 04/17/07 06/12/08 06/12/07 180 18 97.5165 500,000.00 487,582.56 7,575.00 757.50 5.28% 3.030% COASTAL 12,417.44 (9,756.56) 490,243.44 489,600.00
FHLB 31339XVW1 06/01/07 06/26/08 06/26/07 180 4 99.6550 500,000.00 498,275.00 12,500.00 277.78 5.25% 5.000% COASTAL 1,725.00 (1,581.25) 498,418.75 498,350.00
FHLB 31339XM43 08/24/06 06/30/08 09130/06 180 0 98.7900 300,000.00 296,370.00 6,000.00 0.00 5.35% 4.000% VINING 3,630.00 (1,815.00) 298,185.00 299,580.00
FHLB 31339XQ56 05/16/07 06/30/08 06/30/07 180 0 97.6121 500,000.00 488,060.50 7,500.00 0.00 5.22% 3.000% COASTAL 11,939.50 (10,102.58) 489,897.42 488,950.00
FHLB 31339XW26 10/26/06 07/09/08 01109/07 180 171 98.7100 380,000.00 375,098.00 6,650.00 6,317.50 5.39% 3.500% DUNCAN 4,902.00 (2,801.16) 377,198.84 379,848.00
FMAC 3128X1QW0 08/28/06 07/14/08 01114/07 180 166 95.7650 200,000.00 191,530.00 3,000.00 2,766.67 5.40% 3.000% COASTAL 8,470.00 (4,419.12) 195,580.88 195,440.00
FHLB 3133XBR61 04/12/07 07/15/08 N/A 180 75 98.8610 300,000.00 296,583.00 6,225.00 2,593.75 5.10% 4.150% VINING 3,417.00 (2,733.60) 297,266.40 296,580.00
FFCB 31331TQU8 03/08/07 07/28/08 03114107 180 152 97.8777 250,000.00 244,894.25 4,437.50 3,747.22 5.15% 3.550% COASTAL 5,305.75 (3,979.31) 246,020.69 245,525.00
City of Euless
Investment Portfolio
June 30,2007
**Market Prices Provided by Coastal Securities
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Inv. Cusip Purchase Maturity Call Term Days Price Par Principal Next Int Interest Yield To Coupon Seller Unamortized Book Market
Type Number Date Date Date in days) Accrued Per 100 Value Invested Payment Accrued Maturi Rate Inst. Discount Premium Prem/Disc Value Value
FHLB 31339YQ39 12/20/06 07/30/08 01/30/07 180 150 97.5300 500,000.00 487,650.00 8,500.00 7,083.33 5.01% 3.400% VINING 12,350.00 (7,800.00) 492,200.00 490,250.00
FHLB 31339YQ39 01/04/07 07/30/08 01130/07 180 150 97.5000 500,000.00 487,500.00 8,500.00 7,083.33 5.07% 3.400% VINING 12,500.00 (8,333.36) 491,666.64 490,250.00
FHLB 3133XJRT7 02/08/07 08/08/08 05/08/07 180 142 100.0000 500,000.00 500,000.00 13,325.00 10,511.94 5.33% 5.330% SAMCO 500,000.00 499,550.00
FHLB 3133XODZ9 02/05/07 08/12/08 02/07/07 180 138 97.9000 500,000.00 489,500.00 9,375.00 7,187.50 5.20% 3.750% VINING 10,500.00 (7,583.90) 492,416.10 491,800.00
FHLB 31339YYD8 12/07/06 08/13/08 02/13107 180 137 99.2950 500,000.00 496,475.00 10,000.00 7,611.11 5.02% 4.000% VINING 3,525.00 (2,291.25) 497,708.75 497,650.00
FHLB 3133XASR9 04/12/07 09/15/08 NIA 180 105 98.5300 250,000.00 246,325.00 5,000.00 2,916.67 5.08% 4.000% VINING 3,675.00 (3,026.52) 246,973.48 246,325.00
FHLB 3133XBNG3 12/21/06 09/23/08 03/23/07 180 97 99.1310 100,000.00 99,131.00 2,000.00 1,077.78 5.34% 4.000% DUNCAN 869.00 (579.27) 99,420.73 99,770.00
FHLB 3133X4UU3 12/20/06 09/30/08 12/30106 180 90 98.8825 500,000.00 494,412.71 11,250.00 5,625.00 5.04% 4.500% COASTAL 5,587.29 (3,414.49) 496,585.51 495,350.00
FHLB 3133X13V7 04/12/07 09/30/08 NIA 180 90 98.7216 125,000.00 123,402.00 2,656.25 1,328.13 5.17% 4.250% Duncan 1,598.00 (1,316.00) 123,684.00 123,475.00
FHLB 3133XDAW1 03/12/07 10/03/08 03/14/07 180 87 99.1250 950,000.00 941,667.50 21,375.00 10,331.25 5.09% 4.500% VINING 8,312.50 (6,562.50) 943,437.50 941,070.00
FMAC 3128X52,16 04/12/07 10/09/08 07/09/07 180 81 100.0000 1,000,000.00 1,000,000.00 27,000.00 12,150.00 5.40% 5.400% SAMCO 1,000,000.00 999,200.00
FMAC 3128XIIR90 03/16/07 10/14/08 04/14107 180 76 98.4774 250,000.00 246,193.50 5,000.00 2,111.11 5.01% 4.000% COASTAL 3,806.50 (3,005.14) 246,994.86 246,075.00
FHLB 3133XHCY6 10/17/06 10/17/08 01/17/07 180 73 99.7810 500,000.00 498,905.00 12,500.00 5,069.44 5.48% 5.000% COASTAL 1,095.00 (684.33) 499,315.67 499,750.00
FNMA 31398AAF9 06/08/07 11/03/08 NIA 180 57 99.5270 500,000.00 497,634.80 12,250.00 3,879.17 5.25% 4.900% UBS 2,365.20 (2,226.08) 497,773.92 497,650.00
FHLB 3133X2CFO 05/14/07 11/19/08 05/16107 160 41 98.4090 500,000.00 492,045.00 10,250.00 2,334.72 5.21% 4.100% COASTAL 7,955.00 (7,071.04) 492,928.96 492,300.00
FHLB 3133XL4Y6 06/04/07 12/04/08 09104/07 180 26 100.0000 1,000,000.00 1,000,000.00 26,750.00 3,863.89 5.35% 5.350% SAMCO 1,000,000.00 998,700.00
FHLB 3133MYYSO 06/05/07 12/05/08 09/05/07 180 25 97.4000 400,000.00 389,600.00 6,960.00 966.67 5.31% 3.480% UBS 10,400.00 (9,822.29) 390,177.71 390,360.00
FHLB 31339X4U5 04/18/07 12/12/08 06/12107 180 18 99.5000 500,000.00 497,500.00 10,000.00 1,000.00 5.32% 4.000% VINING 2,500.00 (2,125.00) 497,875.00 498,400.00
FHLB 3133XJ5L8 12/15/06 12115/08 03/15/07 180 15 100.0000 1,000,000.00 1,000,000.00 26,250.00 2,187.50 5.25% 5.250% FSW 1,000,000.00 997,500.00
FHLB 3133X2NL5 03/16/07 12/15/00 03/20/07 180 15 98.3354 250,000.00 245,838.50 5,000.00 416.67 5.00% 4.000% COASTAL 4,161.50 (3,368.82) 246,631.18 245,650.00
FMAC 3128X3U76 02/14/07 12/22/08 06/22/07 180 8 98.1406 500,000.00 490,703.13 10,350.00 460.00 5.20% 4.140% VINING 9,296.87 (7,184.47) 492,815.53 492,100.00
FMAC 3128XSVZO 01/09/07 01/09/09 07/09/07 180 171 100.0000 1,000,000.00 1,000,000.00 26,300.00 24,985.00 5.26% 5.260% FSW 1,000,000.00 997,800.00
FHLB 3133XJHK7 01/16/07 01/16/09 01/16/08 180 164 100.0000 500,000.00 500,000.00 12,812.50 11,673.61 5.13% 5.125% DUNCAN 500,000.00 498,600.00
FNMA 31359M4113 01/29/07 01/29/09 01129/08 180 151 100.0000 500,000.00 500,000.00 13,125.00 11,010.42 5.25% 5.250% DUNCAN 500,000.00 499,200.00
FHLB 3133XJSH2 02/05/07 01/30/09 01/30/08 180 150 100.0000 490,000.00 490,000.00 12,862.50 10,718.75 5.25% 5.250% FSW 490,000.00 489,265.00
FNMA 3136FBFJ9 02/06/07 01/30/09 01/30/08 180 150 100.0000 500,000.00 500,000.00 13,250.00 11,041.67 5.30% 5.300% Duncan 500,000.00 499,400.00
FMAC 3137EAAA7 05/25/07 02/17/09 N/A 180 133 99.7668 1,000,000.00 997,667.89 24,375.00 18,010.42 5.01% 4.875% UBS 2,332.11 (2,109.95) 997,890.05 994,400.00
FFCB 31331XSL7 03/12/07 03/12/09 N/A 180 108 100.0000 525,000.00 525,000.00 12,600.00 7,560.00 4.80% 4.800% MERRILL 525,000.00 521,377.50
FNMA 3136F8HL2 03/27/07 03/27/09 06/27/07 180 93 100.0000 1,000,000.00 1,000,000.00 26,875.00 13,885.42 5.38% 5.375% FSW 1,000,000.00 998,700.00
FMAC 3128X3AD5 06/25/07 04/27/09 06/27/07 180 63 97.7100 500,000.00 488,550.00 10,000.00 3,500.00 5.32% 4.000% VINING 11,450.00 (10,929.45) 489,070.55 489,500.00
FHLB 3133XL6Y4 06/18/07 06/18/09 06/18/08 180 12 100.0000 500,000.00 500,000.00 13,250.00 883.33 5.30% 5.300% COASTAL 500,000.00 499,450.00
FNMA 31398ADS8 06/20/07 06/19/09 06/19/08 180 11 100.0380 1,000,000.00 1,000,380.00 26,875.00 1,642.36 5.34% 5.375% SAMCO 380 1,000,000.00 999,700.00
FMAC 3133F1BT3 01/04/07 08/15/09 01/08/07 180 135 99.2067 1,000,000.00 992,066.59 22,500.00 16,875.00 5.26% 4.500% COASTAL 7,933.41 (6,397.89) 993,602.11 993,100.00
FHLB 3133XJ4X3 12/28/06 12/28/11 12128/07 180 2 100.0000 1,000,000.00 1,000,000.00 26,250.00 291.67 5.25% 5.250% COASTAL 1,000,000.00 989,200.00
TOTAL: 49,073,000.00 48,659,772.74 1,114,272.25 485,619.99 5.1876% 398,830.80 564.00 (225,091.70) 48,838,765.82 48,765,611.30
a
N
Investment Pools
LOGIC N/A N/A N/A N/A N/A 100.0000 66.13 66.13 N/A N/A 5.2648% LOGIC 66.13 66.13
Texpool N/A N/A N/A N/A N/A 100.0000 9,923,382.78 9,923,382.78 N/A N/A 5.2884% Texpool 9,923,382.78 9,923,382.78
FGIC N/A N/A N/A N/A N/A 100.0000 2,918,077.31 2,918,077.31 N/A N/A 5.3200% FGIC 2,918,077.31 2,918,077.31
TOTAL: 12,841,526.22 12,841,526.22 5.2911% 0.00 0.00 0.00 12,841,526.22 12,841,526.22
TOTAL PORTFOLIO 61,914,526.22 61,501,298.96 1,114,272.25 485,619.99 398,830.80 564.00 (225,091.70) 61,680,292.05 61,607,137.52
City of Euless
Investment Portfolio
September 30,2007
**Market Prices Provided by Coastal Securities
Investment Type Institution
LOGIC Local Govt Pool FNMA Fed.Natt Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks LOGIC Local Govt Investment Coop. FSW First Southwest
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities FGIC Financial Investors Trust Merrill Merrill Lynch
Texpool Local Govt Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Texpool TEXPOOL Duncan Duncan Williams
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Principal Next int Interest Yield To Coupon Interest Seller Unamortized Book Market Market
Type Number Date Date Date in days Accrued Per 100 Value Invested Payment Accrued Maturity Rate not Clyd Inst. Discount Premium Preny(Dlsc) Value Price Value
U.S.Government Agencies
Agency Discounts
FMACDN 313396PN7 04/20/07 11/21/07 N/A 211 160 97.0079 500,000.00 485,039.58 14,960.42 11,344.39 5.22% MERRILL 496,383.98 99.320000 496,600.00
Agency Coupon Notes
FMAC 3128X4PK1 01/26/06 10/19/07 04/19106 180 161 99.7200 500,000.00 498,600.00 12,500.00 11,180.56 4.76% 4.500% VINING 1,400.00 0.00 500,000.00 100.010000 500,050.00
FHLB 3133XFCUS 05/02/06 11/02/07 05/02107 180 148 100.0000 500,000.00 500,000.00 13,000.00 10,688.89 5.20% 5.200% Duncan 500,000.00 100.030000 500.150.00
FHLB 3133XFCU8 05/02/06 11/02/07 05/02107 180 148 100.0000 500,000.00 500,000.00 13,000.00 10,688.89 5.20% 5.200% TEJAS 500,000.00 100.030000 500,150.00
FHLB 3133XHXXS 01/22J07 11/27/07 N/A 180 123 99.9320 500,000.00 499,660.00 12,812.50 8,755.21 5.20% 5.125% SAMCO 340.00 (340.00) 499,660.00 1 00.050000 500,250.00
FHLB 3133XDTU5 11/28/05 11/28/07 02/28/06 180 122 100.0000 500,000.00 500,000.00 12,500.00 8,472.22 5.00% 5.000% FSW 500,000.00 100.040000 500,200.00
FMAC 3128X3KU6 10/13/06 12/03/07 12/03/06 180 117 98.5760 200,000.00 197,152.00 4,000.00 2,600.00 5.30% 4.000% DUNCAN 2,848.00 (406.84) 199,593.16 99.660000 199,720.00
FHLB 3133XJ4T212/13/O6 12/03/07 03/13/07 170 107 100.0000 500,000.00 500,000.00 12,183.33 7,668.33 5.16% 5.160% SAMCO 500,000.00 100.0700017 500,350.00
FNMA 3136F2VR6 04/20/06 12!11/07 06/11/06 180 109 98.1250 500,000.00 490,625.00 10,000.00 6,055.56 5.20% 4.000% VINING 9,375.00 (937.50) 499,062.50 99.850000 499,250.00
FNMA 31359MZN6 06/21/07 12/13/07 09/13/07 180 107 99.8481 1,000,000.00 998,481.47 25,000.00 14,861.11 5.32% 5.000% 1,111.11 COASTAL 1,518.53 (506.18) 999,493.82 100.0500D0 1,000,500.00
FMAC 3128X1LC9 07/10/07 12/17107 N/A 180 103 98.8794 500,000.00 494,396.93 6,750.00 3,862.50 5.32% 2.700% 862.50 COASTAL 5,603.07 (2,241.22) 497,758.78 99.560000 497,800.00
FHLB 3133X4EJ6 08/24/07 12/18/07 09/18107 90 12 99.4136 435,000 OD 432,449.06 3,588.75 478.50 5.20% 3.300% COASTAL 2,550.94 (1,275.46) 433,724.54 99.690000 433,651.50
FHLB 3733XJEKO 12/21/06 12/21/07 06/21107 180 99 100.0000 500,000.00 500,000.00 13,000.00 7,150.00 5.20% 5.200% SAMCO 500,000.00 100.100000 500,500.00
FHLB 3133X 6K4 01/12/07 12/27/07 N/A 180 93 98.9700 500,ODO.OD 494,850.00 10,250.00 5,295.83 5.21% 4.100% SAMCO 5,150.00 (936.36) 499,063.64 99.840000 499,200.00
FHLB 3133XC6K4 01/24!07 12/27/07 NIA 180 93 98.9536 700,000.00 296,860.80 6,150.00 3,177.50 5.27% 4.100% DUNCAN 3,139.20 (570.78) 299,429.22 99.840000 299,520.00
FHLB 3133XA3K7 06/28/06 12128/07 NIA 180 92 98.3657 250,000.00 245,914.25 5,437.50 2,779.17 5.50% 4.350% FSW 4,085.75 (453.96) 249,546.04 99.900000 249,750.00
FHLB 3133XE2W8 09/01/06 12/28/07 09/28/06 180 92 99.4652 200,000.00 198,930.40 5,000.00 2,555.56 5.42% 5.000% COASTAL 1,069.60 (142.60) 199,857.40 100.060000 200,120.00
FHLB 3133XMSC1 08/27/07 01/28/08 151 33 100.0000 265,000.00 265,000.00 5,613.22 1,226.73 5.05% 5.050% FSW 265,000.00 100.121360 265,321.60
FHLB 3133XSZL5 12/18/06 07/30/08 04/30/07 180 150 98.3279 250,000.00 245,819.75 4,400.00 3,666.67 5.08% 7.520% COASTAL 4,180.25 (964.65) 249,035.35 99.610000 249,025.00
FNMA 31359MF65 08/18/06 02/01/08 02/01/07 180 59 99.3125 837,OOD.00 631,245.63 19,878.75 6,515.81 5.25% 4.750% MERRILL 5,754.37 (1,278.72) 835,721.28 99.990000 836,916.30
FHLB 3133XJWX2 03/01/07 02/01/08 NIA 330 209 100.0000 500,000.00 500,000.00 24,062.50 15,239.58 5.25% 5.250% SAMC0 500,000.00 100.140000 500,700.00
FHLB 3133X3MH3 09/19/06 02/11/08 09/25/06 180 49 97.2849 250,000.00 243,212.30 4,218.75 1,148.44 5.42% 3.375% COASTAL 6,787.70 (1,597.08) 248,402.92 99.4900OD 248,725.00
FHLB J133MVQA410/12/O6 02/11/08 10/16/06 180 49 97.8200 375,000.00 366,825.00 6,562.50 1,766.46 5.21% 3.500% VINING 8,175.00 (2,043.72) 372,956.28 99.540000 373,275.00
FHLB 3133MVZA4 11/16/06 02/15/08 N/A 180 45 97.9688 630,000.00 617,203.13 70,631.25 2,657.81 5.07% 3.307 MERRILL 12,796.87 (3,412.46) 626,587.52 99.490000 626,787.00
FMAC 3128XO036 01/17/07 03/14/08 03/14/07 180 16 97.8800 500,000.00 489,400.00 8,125.00 722.22 5.15% 3.250% VINING 10,600.00 (3,785.74) 496,214.26 99.310000 496,550.00
FHLB 3133MXAB:05/25/06 03/24/08 05130/06 180 6 96.6780 500,000.00 483,390.00 8,437.50 281.25 5.30% 3.375% VINING 16,610.00 (3,775.00) 496,225.00 99.270000 496,350.00
FNMA 3136F6O85 08/16/06 03/24108 09/24/06 180 6 98.2800 300,000.00 294,840.00 6,465.00 215.50 5.44% 4.310% DUNCAN 5,160.00 (1,357.88) 298,642.12 99MODOO 299,070.00
FHLB 3133X7HM910126/06 03/28/08 n/a 180 92 98.1748 50,000.00 49,087.39 1,000.00 517.11 5.35% 4.000% FSW 912.61 (268.40) 49,731.60 99.590000 49,795.00
FHLB 3133XC2A0 09/21/07 03/28/08 09/28/07 180 92 99.8130 1,000,000.00 998,130.00 21,300.00 10,886.67 4.63% 4.260% 9,821.67 Samco 1,870.00 (1,558.35) 998,441.65 99.813000 998,130.00
FHLMC 3128X03N712/22/O6 04/01/08 N/A 180 779 96.1630 500,000.00 490,815.00 8,750.00 8,707.39 5.00% 3.500% VINING 9,185.00 (3,44{.{0) 496,555.60 99.320000 496,600.00
FHLB 3133X5CL0 12/18/06 04/14/08 01/14/07 180 166 97.6950 500,000.00 486,474.76 8,000.00 7,377.78 5.20% 3.200% COASTAL 11,525.24 ({,321.94) 495,678.06 99.150000 495,750.00
FMAC 3128X06E4 06/09/06 04/23/08 06/13/06 180 157 96.5000 350,000.00 337,750.00 5,906.25 5,151.56 5.36% 3.375% VINING 12,250.00 (3,340.88) 346,659.12 99.210000 347,235.00
FMAC 3128X44E6 08/28/06 04/28/08 10128106 180 152 99.8594 500,000.00 499,296.88 13,375.00 11,294.44 5.43% 5.350% VINING 703.12 (222.00) 499,778.00 100.050000 500,250.00
FMAC 3128X1AW7 04/05/07 05/14/08 05/14107 180 136 98.6090 550,000.00 542,349.50 10,312.50 7,791.67 5.05% 3.750% MERRILL 7,650.50 (4,119.50) 545,880.50 99.380000 546,590.00
FNMA 31359MDU4 09/05/07 05/18/08 N/C 180 132 100.6250 500,000.00 503,125.00 15,000.00 11,000.00 5.06% 6.000% 9,166.67 Samco 3125.00 2,734.34 502,734.34 100.680000 503,400.00
FHLB 3133X75L411/29/O6 05/19/08 12/04/06 180 131 98.7000 500,000.00 493,500.00 10,250.00 7,459.72 5.03% 4.100% VINING 6,500.00 (2,527.77) 497,472.23 99.580000 497,900.00
FHLB 3133XKV28 06/04/07 06/04/08 12/04/07 180 116 100.0000 1,000,000.00 1,000,000.00 26,350.00 16,981.11 5.27% 5.270% UBS 1,000,000.00 100.100000 1,001,000.00
FNMA 313613X50 01/10/07 06/12/08 06/12/07 180 106 97.1875 1,000,000.00 971,875.00 15,000.00 9,000.00 5.07% 3.000% MERRILL 28,125.00 (13,235.28) 986,764.72 96.820000 988,200.00
FMAC 3128X1HV2 04/17/07 06/12/08 06/12/07 180 108 97.5165 5D0,000.OD 487,582.56 7,575.00 4,545.00 5.28% 3.030% COASTAL 12,417.44 (7,095.68) 492,904.32 98.840000 494,200.00
FHLB 31339)fVW1 06/01/07 06/26/08 06/26107 180 94 99.6550 500,000.00 498,275.00 12,500.00 6,527.78 5.25% 5.000% COASTAL 1,725.00 (1,150.00) 498,850.00 100.060000 500,300.00
FHLB 31339XM43 08/24/06 06/30/08 09/30/06 180 90 98.7900 300,000.00 296,370.00 6,000.00 3,000.00 5.35% 4.000% VINING 3,630.00 (1,320.00) 298,680.00 100.140000 300,420.00
FHLB 31339X056 05!16/07 06/30/08 O6g0/07 180 90 97.6721 500,000.00 488,060.50 7,500.00 3,750.00 5.22% 3.000% COASTAL 11,939.50 (7,347.36) {82,652.64 98.750000 497,750.00
FMAC 3128XIOWO 08/28/06 07/14/08 01/14/07 180 76 95.7650 200,000.00 191,530.00 3,000.00 1,266.67 5.40% 3.000% COASTAL 8,470.00 (3,314.34) 196,685.66 88.700000 197,400.00
FHLB 3133XBRBI 04/12/07 07/15/08 N/A 180 165 98.8610 300,000.00 296,583.00 6,225.00 5,706.25 5.10% 4.150% VINING 3,417.00 (2,050.20) 297,949.80 99.600000 298,800.00
FFCB 313J1TQU8 03/08107 07128/08 03/14/07 180 62 97.8777 250,000.00 244,694.25 4,437.50 1,528.47 5.15% 3.550% COASTAL 5,305.75 (2,984.48) 247,015.52 99.100000 247,750.00
FHLB 31339YO39 12/20/06 07/30/08 01/30/07 780 60 97.5300 500,000.00 487,650.00 8,500.00 2,833.33 5.01% 3.400% VINING 12,350.00 (5,850.00) 494,150.00 98.970000 494,850.00
FHLB 31339YO39 01/04/07 07/30/08 01130/07 180 60 97.5000 500,000.00 487,500.00 8,500.00 2,833.33 5.07% 3.400% VINING 12,500.00 (6,250.04) 493,749.96 98.970000 494,850.00
FHLB 3133XJRT7 02/08/07 08/08/O8 05108/07 180 52 100.0000 250,000.00 250,000.00 6,662.50 1,924.72 5.33% 5.330% SAMCO 250,000.00 100.080000 250,200.00
FHLB 3133XODZ8 02/05/07 08/12/08 02/07107 180 48 97.9000 500,000.00 489,500.00 9,375.00 2,500.00 5.20% 3.750% VINING 10,500.00 (5,833.40) 494,166.60 99.230000 496,150.00
FHLB 311J9YYD8 12/07/06 08/13/08 02/13/07 180 47 99.2950 500,000.00 496,475.00 10,000.00 2,611.11 5.02% 4.000% VINING 3,525.00 (1,762.50) 498,237.50 100.050000 500,250.00
FHLB 3133XASR9 04/12/07 09/15/08 N/A 180 15 98.5300 250,000.00 246,325.00 5,000.00 416.67 5.08% 4.000% VINING 3,675.00 (2,377.98) 247,622.02 99.460000 248,650.00
FHLB 3133X4UU312120/06 09/30/08 12/10/06 180 180 98.8825 500,000.00 494,412.71 11,250.00 11,250.00 5.04% 4.500% COASTAL 5,587.29 (2,483.28) 497,516.72 99.870000 499,350.00
FHLB 3133X13V7 04/12/07 09/JO/OB N/A 180 180 98.7216 125,000.00 123,402.00 2,656.25 2,656.25 5.17% 4.250% 177.08 Duncan 1,598.00 (1,034.00) 123,966.00 99.710000 124,637.50
FHLB 3133XDAW7 03/12/07 10/03/08 03114/07 180 177 99.1250 950,000.00 941,687.50 21,375.00 21,018.75 5.09% 4.500% VINING 8,312.50 (5,250.00) 941,750.00 99.850000 948,575.00
FMAC 3128X52J6 04/12!07 10/09/08 07109/07 180 171 100.0000 1.000,000.00 1,000,000.00 27,000.00 25,650.00 5.40% 5.400% 450.00 SAMCO 1,000,000.00 700.020000 1,000,200.00
FMAC 3128XIR90 03/16/07 10/14/06 04174/07 180 166 98.4774 250,000.00 246,193.50 5,000.00 4,611.11 5.01% 4.000% COASTAL 3,806.50 (2,404.12) 247,595.88 99.440000 248,600.00
FHLB 3133XHCY6 10/17/06 10/17/08 01/17/07 180 163 99.7810 500,000.00 498,905.00 12,500.00 11,319.44 5.48% 5.000% COASTAL 1,095.00 (547.44) 499,452.56 100.030000 500,150.00
FNMA 3136F7GK7 09/12/07 10/27/08 01127/08 180 63 99.6500 475,000.00 473,337.50 10,877.50 3,807.13 4.90% 4.580% 2,719.38 Duncan 1,662.50 (1,534.44) 473,465.56 99.917920 474,610.12
FNMA 31398AAF9 O6/08/07 17/03/08 N/A 180 147 99.5270 500,000.00 497,634.80 12,250.00 10,004.17 5.25% 4.900% 2,381.94 UBS 2,365.20 (1,808.69) 498,191.31 100.380000 501,900.00
FHLB 3133XDPN5 09/14/07 11/10/08 09/18/07 180 140 99.8590 560,000.00 559,210.40 13,650.00 10,616.67 5.00% 4.875% 9,403.33 FSW 789.60 (733.20) 559,266.80 99.974430 559,856.81
FHLB 3133X2CF0 05/14/07 11/19/08 06/16/07 180 131 98.4090 500,000.00 492,045.00 10,250.00 7,459.72 5.21% 4.100% COASTAL 7,955.00 (5,745.22) 494,254.78 99.490000 497,450.00
FHLB 3133XL4Y6 06/04/07 12/04/08 09/04/07 180 716 100.0000 1,000,000.00 1,000,000.00 26,750.00 17,238.89 5.35% 5.350% SAMCO 1,000,000.00 100.150000 1,001,500.00
FHLB 3133MYYS0 O6/05/07 12!05/08 09/06/07 180 115 97.4000 400,000.00 389,600.00 6,960.00 4,4{6.67 5.31% 3.480% UBS 10,400.00 (8,088.92) 391,911.08 98.810000 395,240.00
FHLB 31339X4U5 04/18/07 72/12/08 06/12/07 180 108 98.5000 500,000.00 497,500.00 12,500.00 7,500.00 5.32% 5.000% VINING 2,500.00 (1,750.00) 498,250.00 100.090000 500,450.00
FHLB 3133XJ5L812/15/0 12/15/08 03115/07 180 105 100.0000 1,000,000.00 1,000,000.00 26,250.00 15,312.50 5.25% 5.250% FSW 1,000,000.00 100.150000 1,001,500.00
FHLB 3133X2NL5 03/16/07 12/15/08 03120/07 180 105 98.3354 250,ODD.00 245,838.50 5,000.00 2,976.67 5.00% 4.000% COASTAL 4161.50 (2,774.31) 247,225.69 99.370000 248,425.00
FMAC 3128X3U76 02/14/07 12/22/08 06/22/07 180 98 98.1406 500,000.00 490,703.13 10,350.00 5,635.00 5.20% 4.140% VINING 9296.87 (5,916.26) 494,083.74 99.530000 497,650.00
FMAC 3128X5VZ6 01/09/07 01/09/09 07/09/07 180 81 100.0000 1,OOO,OOD.00 1,000,000.00 26,300.00 11,835.00 5.26% 5.260% FSW 1,000,000.00 100.020000 1,000,200.00
FHLB 31339XTN4 09/07/07 01/09/09 10108/07 180 81 97.9450 760,000.00 744,382.00 12,350.00 5,557.50 4.85% 3.250% 3,979.44 MenOI 15,618.00 (14,641.95) 745,358.05 98.260480 746,779.65
FHLB 3133XEBA6 07/06/07 01/13/09 07/13/07 180 77 99.4810 125,000.00 124,351.25 3,212.50 1,374.24 5.50% 5.140% Samco 648.75 (648.75) 124,351.25 100.106750 125,133.44
FHLMC 3128X2JW6 09126/07 01/14/09 10/01/07 180 76 99.0595 150,000.00 148,589.25 3,000.00 1,266.67 4.75% 4.000% 1,2DO.00 Duncan 1,410.75 (1,322.55) 148,677.45 98.737670 148,106.51
FHLB 3137XJHK7 01/16/07 07/16/09 01176/08 180 74 100.0000 500,000.00 500,000.00 12,812.50 5,267.36 5.13% 5.125% DUNCAN 500,000.00 100.170000 500,850.00
FHLB 31339YEZI 09/25/07 01/23/09 10/23107 180 67 98.2600 600,000.00 589,560.00 10,020.00 3,729.67 4.70% 3.340% 3,451.33 Vining 10,440.00 (9,787.50) 590,212.50 98.636200 591,817.20
City of Euless
Investment Portfolio
September 30,2007
"Market Prices Provided by Coastal Securities
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nal'I Mort Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks LOGIC Local Govt Investment Coop. FSW First Sauth-.t
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities FGIC Financial Investors Trust Merrill Merrill Lynch
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Sam- Samco Securities Texpool TEXPOOL Duncan Duncan Williams
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Mabrrity, Call Term Days Price Par Principal Next Int Interest Yield To Coupon Interest Seller Unamortized Book Market Market
Type Number Date Date Date in days Accrued Per 100 Value Invested Payment Accrued Maturi Rate not Clyd Inst. Discount Premium Preml(Disc) Value Price Value
FNMA 313591,141-13 01/29/07 01/29/09 01/29/08 180 61 100.0000 500,000.00 500,000.00 13,125.00 4,447.92 5.25% 5.250% DUNCAN 500,000.00 100.230000 501,150.00
FHLB 3133XJSH2 02/05/07 01/30/09 01/30/08 180 60 100.0000 490,000.00 490,000.00 12,962.50 4,287.50 5.25% 5.250% FSW 490,000.00 100.230000 491,127.00
FNMA 3136F8FJ9 02/06/07 01/30/09 01/30/08 180 60 100.0000 500,000.0D 500,000.00 13,250.004,416.67 5.30% 5.300% Duncan 500,000.00 100.250000 501,250.00
FMAC 3137EAAA7 05/25/07 02/17/09 nla 180 43 99.7668 1,000,000.00 997,667.89 24,375.00 5,822.92 5.01% 4.875% UBS 2332.11 (1,776.80) 998,223.20 100.530000 1,005,300.00
FFCB 31331XSL7 03/12/07 03/12/09 180 18 100.0000 525,000.00 525,000.00 12,600.00 1,260.00 4.80% 4.800% MERRILL 525,000.00 100.470000 527,467.50
FNMA 3136F5GP0 09/19/07 03/16/09 09/28/07 180 14 98.8474 570,000.00563,430.43 11,514.00 895.53 4.85% 4.040% 191.90 Coastal 6,569.57 (6,204.66) 563,795.34 99.310000 566,067.00
FNMA 3136F8HL2 03/27/07 03/27/09 06/27/07 180 3 100.0000 1,000,000.00 1,000,000.00 26,875.00 447.92 5.38% 5.375% FSW 1,000,000.00 100.220000 1,002,200.00
FHLB 3133X66X9 09/12/07 04/20/09 09/17/07 180 160 98.7610 500,000.00 493,805.00 10,000.00 8,888.89 4.81% 4.000% 7,888.89 Vining 6,195.00 (5,868.90) 494,131.10 98.397930 491,989.65
FMAC 3128X3AD5 06/25/07 04/27/09 06/27/07 180 153 97.7100 500,000.00 488,550.00 10,000.00 8,500.00 5.32% 4.000% 3,222.22 VINING 11450.00 (9,368.10) 490,631.90 99.250000 496,250.00
FHLB 3133XL6Y4 06/18/07 06/18/09 06/18/08 180 102 100.0000 500,000.00 500,000.00 13,250.00 7,508.33 5.30% 5.300% COASTAL 500,000.00 100.520000 502,600.00
FNMA 31398ADS8 06/20/07 06/19/09 06/19/08 180 101 100.0380 1,000,000.00 1,000,380.00 26,875.00 15,079.86 5.34% 5.375% 149.31 SAMCO 380.00 380.00 1,000,380.00 100.470000 1,004,700.00
FHLB 3133XLCJ0 07/02/07 07/02/09 07/02/08 180 88 99.9750 500,DOO.O0 499,875.00 13,437.50 6,569.44 5.39% 5.375% DUNCAN 125.00 (125.00) 499,875.00 100.522930 502,614.65
FMAC 3128X6GD22 07/18/07 07/10/09 07/10/08 180 80 99.8750 500,000.00 499,375.00 13,250.00 5,888.89 5.37% 5.300% 588.89 MERRILL 625.00 (625.00) 499,375.00 100.416500 502,082.50
FMAC 3128X6GQ3 07/16/07 07/16/09 01/16/08 180 74 100.0000 500,000.00 500,000.00 13,750.00 5,652.78 5.50% 5.500% FSW 500,000.00 100.197560 500,987.80
FHLB 3133XLLG6 07/23/07 07/23/09 07/23/08 180 67 100.0000 500,000.00 500,000.00 13,500.00 5,025.00 5.40% 5.400% MERRILL 500,000.00 100.334900 501,674.50
FMAC 3133F1BT3 01/04/07 06/15/09 01/08/07 180 45 99.2067 1,00,OOD.00 992,066.59 22,500.00 5,625.00 5.26% 4.500% COASTAL 7,933.41 (5,630.13) 994,369.87 99.960000 999,600.00
FNMA 3136F5CY5 07/17/07 08/25/09 07/26/07 180 35 97.7200 500,0OD.00 488,600.00 10,375.00 2,017.36 5.31% 4.150% VINING 11,400.00 (10,032.00) 489,968.00 98.233660 491,168.30
FHLB 3133XGWK6409/18/07 09/18/09 09/18/08 180 12 100.1430 300,000.00 300,429.00 7,740.00 516.00 5.01% 5.160% Duncan 429.00 429.00 300,429.00 100.560650 301,681.95
FHLB 3133XJ4X312/28/06 12/28/11 12/28/07 180 92 100.00OD 1.000,000.00 1,000,000.00 26,250.00 13,416.67 5.25% 5.250% COASTAL 1,000,0OO.OD 100.080000 1,000.800.00
TOTAL: 47,122,000.00 46,916,335.97 1,071,928.05 572,069.14 5.1855% 56,765.66 409,597.99 3,934.00 (208,958.55) 47,113,041.45 47,219,993.47
D
A Investment Pools
LOGIC N/A N/A N/A N/A N/A 100.0000 67.03 67.03 N/A N/A 5.3899% LOGIC 67.03 100.0000 67.03
Texpool N/A N/A N/A N/A N/A 100.0000 11,691,438.72 11,691,438.72 N/A N/A 5.1330% Texpool 11,691,438.72 100.0000 11,691,438.72
FGIC N/A N/A N/A N/A N/A 100.0000 2,753,404.41 2,753,404.41 WA N/A 4.8900% FGIC 2.753,404.41 100.0000 2,753,404.41
TOTAL: 14,444,910.16 14,444,810.16 6.1376% 0.00 0.00 0.00 0.00 14,444,910.16 14,444,910.16
TOTAL PORTFOLIO 62,266,910.16 61,846,286.72 1,086,888.47 683,413.61 66,765.66 409,597.99 3,934.00 (208,958.55) 62,054,335.69 62,161,503.64
City of Euless
Investment by Fund
June 30,2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of
Type Number Date Date Date in days) remaining Per 100 Value (Prin.Only) A mat'v Int.A Mat'v Maturity Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM
Fund 101-General Fund
FGIC N/A 100.0000 67,605.59 67,605.59 67,605.59 5.32% FGIC 101 67,605.59 0.11% 0.00
Texpool N/A 100.0000 446,873.65 446,873.65 446,873.65 5.29% Texpool 101 446,873.65 0.72% 0.00
FHLB 3133XCBM4 07/10/06 07/13/07 07113106 363 13 98.5000 40,000.00 39,400.00 2,406.00 42,406.00 5.56% 4.010% 788.63 FSW 600.00 101 39,980.00 0.07% 0.01
FNMA 3136F7EB9 01/19/06 07/27/07 04127106 548 27 99.4219 651,000.00 647,236.41 55,335.00 706,335.00 4.65% 4.250% 13,218.92 MERRILL 3,763.59 101 650,414.10 1.07% 0.29
FNMA 31359MG98 02/09/06 08/09/07 05109106 540 39 100.0000 500,000.00 500,000.00 37,875.00 537,875.00 5.05% 5.050% MERRILL 101 499,750.00 0.81% 0.32
FNMA 31359MK51 01/04/07 09/28/07 NIA 264 88 100.0400 260,000.00 260,104.00 13,520.00 273,520.00 5.13% 5.200% 6,378.67 SAMCO 184.00 101 259,844.00 0.43% 0.38
FHLB 3133XFCU8 05/02/06 11/02/07 05102107 540 122 100.0000 500,000.00 500,000.00 39,000.00 539,000.00 5.20% 5.200% Duncan 101 499,650.00 0.81% 0.99
FHLB 3133XFCU8 05/02/06 11/02/07 05102/07 540 122 100.0000 500,000.00 500,000.00 39,000.00 539,000.00 5.20% 5.200% TEJAS 101 499,650.00 0.81% 0.99
FHLB 3133XDTU5 11/28/05 11/28/07 02/28/06 720 148 100.0000 500,000.00 500,000.00 50,000.00 550,000.00 5.00% 5.000% FSW 101 499,150.00 0.81% 1.20
FNMA 31359MZN6 06/21/07 12/13/07 09113/07 172 163 99.8481 1,000,000.00 998,481.47 25,000.00 1,025,000.00 5.32% 5.000% 1,111.11 Coastal 1,516.53 101 998,100.00 1.62% 2.64
FHLB 3133XE2W8 09/01/06 12/28/07 09128/06 477 178 99.4652 200,000.00 198,930.40 15,000.00 215,000.00 5.42% 5.000% 1,750.00 COASTAL 1,069.60 101 199,560.00 0.32% 0.58
FNMA 31359MF65 08/18/06 02/01/08 02101/07 523 211 99.3125 837,000.00 831,245.63 59,636.25 896,636.25 5.25% 4.750% 1,877.44 MERRILL 5,754.37 101 833,735.70 1.35% 2.84
FHLB 3133X3MH3 09/19/06 02/11/08 09125/06 502 221 97.2849 250,000.00 243,212.30 12,656.25 262,656.25 5.42% 3.375% 690.63 COASTAL 6,787.70 101 247,025.00 0.39% 0.87
FHLB 3133X5CL0 12/18/06 D4/14/08 01114/07 476 284 97.6950 500,000.00 488,474.76 24,000.00 524,000.00 5.20% 3.200% 2,844.44 COASTAL 11,525.24 101 491,850.00 0.79% 2.26
FNMA 3136F3XS0 01/10/07 06/12/08 06112107 512 342 97.1875 1,000,000.00 971,875.00 45,000.00 1,045,000.00 5.07% 3.000% 2,333.33 MERRILL 28,125.00 101 978,900.00 1.58% 5.39
FHLB 31339XVW1 06/01/07 06/26/08 06126107 385 356 99.6550 500,000.00 498,275.00 34,375.00 534,375.00 5.25% 3.750% 8,072.92 Coastal 1,725.00 101 498,350.00 0.82% 2.92
FHLB 31339XM43 08/24/06 06/30/08 09130106 666 360 98.7900 300,000.00 296,370.00 24,000.00 324,000.00 5.35% 4.000% 1,800.00 VINING 3,630.00 101 299,580.00 0.48% 1.74
FHLB 31339YO39 12/20/06 07/30/08 01130107 580 390 97.5300 500,000.00 487,650.00 34,000.00 534,000.00 5.01% 3.400% 6,611.11 VINING 12,350.00 101 490,250.00 0.80% 3.12
FHLB 3133XDAWI 03/12/07 10/03/08 03114107 561 453 99.1250 950,000.00 941,687.50 85,500.00 1,035,500.00 5.09% 4.500% 18,881.25 VINING 8,312.50 101 941,070.00 1.55% 7.04
FHLB 3133XL4Y6 06/04/07 12/04/08 09104107 540 514 100.0000 1,000,000.00 1,000,000.00 80,250.00 1,080,250.00 5.35% 5.350% 0.00 Samco 0.00 101 998,700.00 1.62% 8.32
FHLB 3133XJ5L8 12/15/06 12/15/08 03115107 720 525 100.0000 1,000,000.00 1,000,000.00 105,000.00 1,105,000.00 5.25% 5.250% FSW 101 997,500.00 1.62% 8.49
FMAC 3128X3U76 02/14/07 12/22/08 06122107 668 532 98.1406 500,000.00 490,703.13 41,400.00 541,400.00 5.20% 4.140% 2,990.00 VINING 9,296.87 101 492,100.00 0.80% 4.25
FMAC 3128X5VZ8 01/09/07 01/09/09 07109107 720 549 100.0000 1,000,000.00 1,000,000.00 105,200.00 1,105,200.00 5.26% 5.260% FSW 101 997,800.00 1.62% 8.88
FMAC 3133F1BT3 01/04/07 08/15/09 01108/07 941 765 99.2067 500,000.00 496,033.29 72,500.00 572,500.00 5.26% 4.000% 7,722.22 COASTAL 3,966.71 101 496,550.00 0.82% 6.24
Subtotal 13,502,479.24 13,404,158.11 1,000,653.50 14,503,132.74 77,270.67 98,425.11 184.00 subtotal 13,423,988.04 21.81% 69.74
m
Fund 102-General Fund-Emergency
FHLB 3133XJ4X3 12/28/06 12/28/11 12128107 1800 1616 100.0000 500,000.00 500,000.00 131,250.00 631,250.00 5.25% 5.250% COASTAL 102 494,600.00 0.81% 13.09
Fund 103-General Fund Contingency
FHLB 3133XJ4X3 12/28/06 12/28/11 12128107 1800 1618 100.0000 500,000.00 500,000.00 131,250.00 631,250.00 5.25% 5.250% COASTAL 103 494,600.00 0.81% 13.09
Fund 201-Hotel/Motel
FGIC N/A 100.0000 74,813.04 74,813.04 74,813.04 5.32% FGIC 201 74,813.04 0.12% 0.00
Texpool N/A 100.0000 43,077.18 43,077.18 43,077.18 5.29% Texpool 201 43,077.18 0.07% 0.00
subtotal 117,890.23 117,890.23 0.00 117,890.23 0.00 0.00 0.00 subtotal 117,890.23 0.19% 0.00
Fund 210-Half Cent Operations
Texpool N/A 100.0000 184,116.53 184,116.53 0.00 184,116.53 5.29% Texpool 210 184,116.53 0.30% 0.00
FGIC N/A 100.0000 291,871.62 291,871.62 0.00 291,871.62 5.32% FGIC 210 291,871.62 0.47% 0.00
FNMA 31359MYZ0 03/12/07 09/15/07 183 75 99.4960 500,000.00 497,480.00 21,250.00 521,250.00 5.27% 4.250% 10,447.92 SAMCO 2,520.00 210 498,800.00 0.82% 0.62
FMACDN 313396PN7 04/20/07 11/21/07 NIA 211 141 97.0079 100,000.00 97,007.92 2,992.08 100,000.00 5.22% MERRILL 210 97,990.00 0.16% 0.22
FHLB 3133XJ4T2 12/13/06 12/03/07 03113107 350 153 100.0000 500,000.00 500,000.00 25,800.00 525,800.00 5.16% 5.160% SAMCO 210 499,450.00 0.81% 1.24
Subtotal 1,575,988.15 1,570,476.07 50,042.08 1,623,038.15 10,447.92 2,520.00 0.00 subtotal 1,572,228.15 2.56% 2.08
Fund 211-Half Cent Reserve
FGIC N/A 100.0000 975,672.33 975,672.33 0.00 975,672.33 5.32% FGIC 211 975,672.33 1.58% 0.00
Fund 220-Crime Control and Prevention
FGIC N/A 100.0000 0.00 0.00 0.00 0.00 5.32% FGIC 220 0.00 0.00% 0.00
Texpool N/A 100.0000 166,991.61 166,991.61 0.00 166,991.61 5.29% Texpool 220 166,991.61 0.27% 0.00
FHLB 3133XC6K4 01/24/07 12/27/07 NIA 333 177 98.9536 150,000.00 148,430.40 6,150.00 156,150.00 5.27% 4.100% 461.25 DUNCAN 1,569.60 220 149,055.00 0.24% 0.43
FMAC 3128XIR90 03/16/07 10/14/08 04114107 568 464 98.4774 250,000.00 246,193.50 20,000.00 270,000.00 5.01% 4.000% 4,222.22 COASTAL 3,806.50 220 246,075.00 0.41% 1.88
Subtotal 566,991.61 561,615.51 26,150.00 593,141.61 4,683.47 5,376.10 0.00 subtotal 562,121.61 0.92% 2.31
Fund 230-Police DEA(Federal)
FGIC NIA 100.0000 148,806.37 148,806.37 148,806.37 5.32% FGIC 230 148,806.37 0.24% 0.00
Texpool N/A 100.0000 49,955.96 49,955.96 0.00 49,955.96 5.29% Texpool 230 49,955.96 0.08% 0.00
Subtotal 198,762.33 198,762.33 0.00 198,762.33 0.00 0.00 0.00 subtotal 198,762.33 0.32% 0.00
Fund 231-Police DEA(State)
FGIC N/A 100.0000 12,238.52 12,238.52 12,238.52 5.32% FGIC 231 12,238.52 0.02% 0.00
Texpool N/A 100.0000 102,811.09 102,811.09 0.00 102,811.09 5.29% Texpool 231 102,811.09 0.17% 0.00
Subtotal 115,049.61 115,049.61 0.00 115,049.61 0.00 0.00 0.00 subtotal 115,049.61 0.00 0.00
Fund 240-Car Rental Fund
City of Euless
Investment by Fund
June 30,2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of
Tvoe Number Date Date Date in days) remaining Per 100 Value (Prin.Only) A mat'v Int.f&Mat'v Maluri Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM
FGIC N/A 100.0000 9,797.99 9,797.99 9,797.99 5.32% FGIC 240 9,797.99 0.02% 0.00
Texpool N/A 100.0000 109,433.76 109,433.76 109,433.76 5.29% Texpool 240 109,433.76 0.18% 0.00
FHLB 3133X3251 11/07/05 07/13/07 01113/06 606 13 98.8500 250,000.00 247,125.00 20,000.00 270,000.00 4.85% 3.000% 2,375.00 Duncan 2,875.00 240 249,950.00 0.40% 0.05
FHLB 3133XCY31 09/11/06 09/14/07 09114/06 363 74 99.1070 300,000.00 297,321.00 19,710.00 319,710.00 5.30% 4.380% 6,460.50 DUNCAN 2,679.00 240 299,370.00 0.49% 0.36
FHLB 3133XAKF3 12/02/05 11/23/07 02123/06 711 143 99.3500 500,000.00 496,750.00 92,500.00 592,500.00 4.80% 3.750% 468.75 Vining 3,250.00 240 499,850.00 0.80% 1.15
FMAC 3128X0036 01/17/07 03/14/08 03114/07 417 254 97.8800 500,000.00 489,400.00 24,375.00 524,375.00 5.15% 3.250% 5,552.08 VINING 10,600.00 240 492,800.00 0.80% 2.03
FHLB 3133MXAB5 05/25/06 03/24/08 05130/06 659 264 96.6780 500,000.00 483,390.00 33,750.00 533,750.00 5.30% 3.375% 2,859.38 VINING 16,610.00 240 492,950.00 0.79% 2.08
FMAC 3128X06E4 06/09/06 04/23/08 06113/06 674 293 96.5000 350,000.00 337,750.00 23,625.00 373,625.00 5.36% 3.375% 1,509.38 VINING 12,250.00 240 344,610.00 0.55% 1.61
FMAC 3128X3A52 05/25/06 04/28/08 05130/06 693 298 98.3838 200,000.00 196,767.60 16,000.00 216,000.00 5.40% 4.000% 600.00 DUNCAN 3,232.40 240 199,380.00 0.32% 0.95
FMAC 3128X44E8 08/28/06 04/28/08 10128/06 600 298 99.8594 500,000.00 499,296.88 53,500.00 553,500.00 5.43% 5.350% 8,990.97 VINING 703.12 240 499,650.00 0.82% 2.45
FHLB 3133XHLRI 11/14/06 05/14/08 05114/07 540 314 99.9375 500,000.00 499,687.50 39,750.00 539,750.00 5.34% 5.300% DUNCAN 312.50 240 499,500.00 0.81% 2.54
FHLB 3133X751-4 11/29/06 05/19/08 12/04106 530 319 98.7000 500,000.00 493,500.00 30,750.00 530,750.00 5.03% 4.100% 569.44 VINING 6,500.00 240 494,750.00 0.80% 2.55
FHLB 3133XKV28 06/04/07 06/04/08 12/04/07 360 334 100.0000 300,000.00 300,000.00 15,810.00 315,810.00 5.27% 5.270% 0.00 UBS 0.00 240 299,670.00 0.49% 1.62
FHLB 31339XQ56 05/16/07 06/30/08 06130/07 404 360 97.6121 500,000.00 488,060.50 22,500.00 522,500.00 5.22% 3.000% 5,666.67 Coastal 11,939.50 240 488,950.00 0.80% 2.88
FMAC 3128XIOWO 08/28/06 07/14/08 01/14107 676 374 95.7650 200,000.00 191,530.00 12,000.00 212,000.00 5.40% 3.000% 733.33 COASTAL 8,470.00 240 195,440.00 0.31% 1.16
FHLB 31339YYDB 12/07/06 08/13/08 02113107 606 403 99.2950 500,000.00 496,475.00 40,000.00 540,000.00 5.02% 4.000% 6,333.33 VINING 3,525.00 240 497,650.00 0.81% 3.28
FHLB 3133X4UU3 12/20/06 09/30/08 12130/06 640 450 98.8825 500,000.00 494,412.71 43,125.00 543,125.00 5.04% 3.750% 4,166.67 COASTAL 5,587.29 240 495,350.00 0.81% 3.63
FNMA 313591041-13 01/29/07 01/29/09 01129108 720 569 100.0000 200,000.00 200,000.00 21,000.00 221,000.00 5.25% 5.250% DUNCAN 240 199,680.00 0.32% 1.84
FMAC 3137EAAA7 05/25/07 02/17/09 nla 622 587 99.7668 1,000,000.00 997,667.89 97,500.00 1,097,500.00 5.01% 4.875% 13,270.83 UBS 2,332.11 240 994,400.00 1.64% 9.60
FNMA 31398ADS8 06/20/07 06/19/09 06119106 719 709 100.0380 1,000,000.00 1,000,380.00 107,500.00 1,107,500.00 5.34% 5.375% 149.31 Samco 380.00 240 999,700.00 1.62% 11.48
Subtotal 8,419,231.76 8,328,745.82 713,395.00 9,132,626.76 59,705.64 90,865.92 380.00 subtotal 8,362,881.76 13.57% 51.27
Fund 301-Developer's Escrow
FGIC NIA 100.0000 67,346.62 67,346.62 67,346.62 5.32% FGIC 301 67,346.62 0.11% 0.00
Texpool N/A 100.0000 176,543.58 176,543.58 176,543.58 5.29% Texpool 301 176,543.58 0.29% 0.00
FHLB 31339YQ39 01/04/07 07/30/08 01130/07 566 390 97.5000 500,000.00 487,500.00 34,000.00 534,000.00 5.07% 3.400% 7,272.22 VINING 12,500.00 301 490,250.00 0.80% 3.12
FNMA 31359M41-13 01/29/07 01/29/09 01129/08 720 569 100.0000 200,000.00 200,000.00 21,000.00 221,000.00 5.25% 5.250% DUNCAN 301 199,680.00 0.32% 1.84
FMAC 3133FIBT3 01/04/07 08/15/09 01108/07 941 765 99.2067 500,000.00 496,033.30 72,500.00 572,500.00 5.26% 4.000% 7,722.22 COASTAL 3,966.70 301 496,550.00 0.82% 6.24
Subtotal 1,443,890.20 1,427,423.49 127,500.00 1,571,390.20 14,994.44 16,466.70 0.00 subtotal 1,430,370.20 2.33% 11.20
m
N
Fund 305Streets CIP
FGIC N/A 100.0000 114,220.43 114,220.43 0.00 114,220.43 5.32% FGIC 305 114,220.43 0.18% 0.00
Texpool N/A 100.0000 1,387,612.35 1,387,612.35 0.00 1,387,612.35 5.29% TEXPOOL 305 1,387,612.35 2.25% 0.00
FHLB 3133XCS95 10/24/06 09/14/07 We 320 74 99.1250 440,000.00 436,150.00 18,700.00 458,700.00 5.26% 4.250% 2,077.78 MERRILL 3,850.00 305 438,944.00 0.71% 0.52
FHLB 3133XJWX2 03/01/07 02/01/08 NIA 330 211 100.0000 500,000.00 500,000.00 24,062.50 524,062.50 5.25% 5.250% SAMCO 305 499,300.00 0.81% 1.71
FFCB 31331TQUB 03/08/07 07/26/08 03114107 500 388 97.8777 250,000.00 244,694.25 13,312.50 263,312.50 5.15% 3.550% 986.11 COASTAL 5,305.75 305 245,525.00 0.40% 1.54
FHLB 3133XJHK7 01/16/07 01/16/09 01116106 720 556 100.0000 400,000.00 400,000.00 41,000.00 441,000.00 5.13% 5.125% DUNCAN 305 398,880.00 0.65% 3.60
FHLB 3133XJSH2 02/05/07 01/30/09 01130/08 715 570 100.0000 490,000.00 490,000.00 51,450.00 541,450.00 5.25% 5.250% 357.29 FSW 305 489,265.00 0.79% 4.52
FFCB 31331XSL7 03/12/07 03/12/09 720 612 100.0000 525,000.00 525,000.00 50,400.00 575,400.00 4.80% 4.800% MERRILL 305 521,377.50 0.85% 5.20
Subtotal 4,106,832.78 4,097,677.03 198,925.00 4,305,757.78 3,421.18 9,155.75 0.00 subtotal 4,095,124.28 6.64% 17.09
Fund 310-Half Cent CIP
FGIC N/A 100.0000 84,108.05 84,108.05 0.00 84,108.05 5.32% FGIC 310 84,108.05 0.14% 0.00
Texpool N/A 100.0000 8,672.18 8,672.16 8,672.18 5.29% Texpool 310 8,672.18 0.01% 0.00
FHLB 3133XK3S2 03/05/07 09/05/07 NIA 180 65 100.0000 200,000.00 200,000.00 5,150.00 205,150.00 5.15% 5.150% SAMCO 310 199,880.00 0.32% 0.21
FMAC 3128X52J6 04/12/07 10/09/08 07109/07 537 459 100.0000 200,000.00 200,000.00 16,200.00 216,200.00 5.40% 5.400% SAMCO 310 199,840.00 0.32% 1.49
Subtotal 492,780.22 492,780.22 21,350.00 514,130.22 0.00 0.00 0.00 subtotal 492,500.22 0.80% 1.70
Fund 320-G.O.CIP-Fire Station
Texpool N/A 100.0000 27,982.33 27,982.33 27,982.33 5.29% Texpool 320 27,982.33 0.05% 0.00
Subtotal 27,982.33 27,982.33 27,982.33 0.00 0.00 0.00 subtotal 27,982.33 0.05% 0.00
Fund 325-Police Facility CIP
FGIC N/A 100.0000 30,563.69 30,563.69 0.00 30,563.69 5.32% FGIC 325 30,563.69 0.05% 0.00
Subtotal 30,563.69 30,563.69 0.00 30,563.69 0.00 0.00 0.00 subtotal 30,563.69 0.05% 0.00
Fund 330-Car Rental CIP
FGIC N/A 100.0000 3,413.84 3,413.84 3,413.84 5.32% FGIC 330 3,413.84 0.01% 0.00
Texpool N/A 100.0000 7,725.11 7,725.11 7,725.11 5.29% Texpool 330 7,725.11 0.01% 0.00
FNMA 31359MYZ0 03/08/07 09/15/07 187 75 99.5170 500,000.00 497,585.00 21,250.00 521,250.00 5.20% 4.250% 10,211.81 SAMCO 2,415.00 330 498,800.00 0.82% 0.62
FHLB 3133XKV28 06/04/07 06/04/08 12/04107 360 334 100.0000 200,000.00 200,000.00 10,540.00 210,540.00 5.27% 5.270% 0.00 UBS 0.00 330 199,780.00 0.32% 1.08
FHLB 3133X2NL5 03/16/07 12/15/08 03120107 629 525 98.3354 250,000.00 245,838.50 20,000.00 270,000.00 5.00% 4.000% 2,527.78 COASTAL 4,161.50 330 245,650.00 0.40% 2.11
FNMA 31359M4113 01/29/07 01/29/09 01129108 720 569 100.0000 100,000.00 100,000.00 10,500.00 110,500.00 5.25% 5.250% DUNCAN 330 99,840.00 0.16% 0.92
Subtotal 1,061,138.95 1,054,562.45 62,290.00 1,123,428.95 12,739.59 6,576.50 0.00 subtotal 1,055,208.95 1.73% 4.73
Fund 401-Debt Service
Texpool N/A 100.0000 487,269.46 487,269.46 487,269.46 5.29% Texpool 401 487,269.46 0.79% 0.00
City of Euless
Investment by Fund
June 30,2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of
Tvoe Number Date Date Date in days) remaining Per 100 Value (Prin.Only) A mat'v Int.A Mat'v Maturi Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM
FGIC NIA 100.0000 3,867.58 3,867.58 3,867.58 5.32% FGIC 401 3,867.58 0.01% 0.00
FHLB 3133MWP47 01/23/07 08/28/07 NIA 215 58 98.8070 250,000.00 247,017.50 8,000.00 258,000.00 5.25% 3.200% 3,222.22 SAMCO 2,982.50 401 249,125.00 0.40% 0.23
FMACDN 313396PN7 04/20/07 11/21/07 NIA 211 141 97.0079 200,000.00 194,015.83 5,984.17 200,000.00 5.22% MERRILL 401 195,980.00 0.31% 0.44
FHLB 3133XKV28 06/04/07 06/04/08 12104/07 360 334 100.0000 500,000.00 500,000.00 26,350.00 526,350.00 5.27% 5.270% 0.00 UBS 0.00 401 499,450.00 0.81% 2.70
FHLB 3133XJHK7 01/16/07 01/16/09 01116108 720 556 100.0000 100,000.00 100,000.00 10,250.00 110,250.00 5.13% 5.125% DUNCAN 401 99,720.00 0.16% 0.90
Subtotal 1,541,137.04 1,532,170.37 50,584.17 1,585,737.04 3,222.22 2,982.50 0.00 subtotal 1,535,412.04 2.48% 4.28
Fund 402Star Center Debt Service
Texpool NIA 100.0000 509,011.33 509,011.33 509,011.33 5.29% Texpool 402 509,011.33 0.82% 0.00
Subtotal 509,011.33 509,011.33 0.00 509,011.33 0.00 0.00 0.00 subtotal 509,011.33 0.82% 0.00
Fund 501-Water and Sewer
LOGIC N/A 100.0000 66.13 66.13 66.13 5.26% LOGIC 501 66.13 0.00% 0.00
FGIC N/A 100.0000 57,841.04 57,841.04 57,841.04 5.32% FGIC 501 57,841.04 0.09% 0.00
Texpool N/A 100.0000 74,391.71 74,391.71 74,391.71 5.29% TEXPOOL 501 74,391.71 0.12% 0.00
FHLB 3133XCHT3 08/10/05 08/10/07 11/10/05 720 40 100.0000 500,000.00 500,000.00 40,000.00 540,000.00 4.00% 4.000% FSW 501 499,750.00 0.81% 0.32
FNMA 31359MYZ0 08/28/06 09/15/07 NIA 377 75 98.9720 500,000.00 494,860.00 31,875.00 531,875.00 5.27% 4.250% 9,621.53 SAMCO 5,140.00 501 498,800.00 0.82% 0.61
FHLB 3133XAKF3 01/10/06 11/23/07 02/23/06 673 143 99.5000 400,000.00 398,000.00 37,000.00 437,000.00 4.76% 3.750% 1,958.33 VINING 2,000.00 501 399,880.00 0.65% 0.93
FHLB 3133XC6K4 01/12/07 12/27/07 NIA 345 177 98.9700 500,000.00 494,850.00 20,500.00 520,500.00 5.21% 4.100% 854.17 SAMCO 5,150.00 501 496,850.00 0.80% 1.42
FNMA 3136F6O85 08/16/06 03/24/08 09124/06 578 264 98.2800 300,000.00 294,840.00 25,860.00 325,860.00 5.44% 4.310% 5,100.17 DUNCAN 5,160.00 501 297,630.00 0.49% 1.28
FHLMC 3128X03N7 12/22/06 04/01/08 N/A 459 271 98.1630 500,000.00 490,815.00 26,250.00 526,250.00 5.00% 3.500% 3,937.50 VINING 9,185.00 501 493,100.00 0.80% 2.17
FNMA 31398AAF9 06/08/07 11/03/08 N/A 505 483 99.5270 500,000.00 497,634.80 36,750.00 536,750.00 5.25% 4.900% 2,381.94 UBS 2,365.20 501 497,650.00 0.81% 3.91
FHLB 3133MYYSO 06/05/07 12/05/08 09105/07 540 515 97.4000 200,000.00 194,800.00 10,440.00 210,440.00 5.31% 3.480% 0.00 UBS 5,200.00 501 195,180.00 0.32% 1.62
FHLB 31339X4U5 04/18/07 12/12/08 06112107 594 522 99.5000 500,000.00 497,500.00 40,000.00 540,000.00 5.32% 4.000% 7,000.00 VINING 2,500.00 501 498,400.00 0.82% 4.26
FNMA 3136F8HL2 03/27/07 03/27/09 06127/07 720 627 100.0000 300,000.00 300,000.00 32,250.00 332,250.00 5.38% 5.375% FSW 501 299,610.00 0.49% 3.04
FMAC 312BX3AD5 06/25/07 04/27/09 06127107 662 657 97.7100 500,000.00 488,550.00 40,000.00 540,000.00 5.32% 4.000% 3,222.22 Vining 11,450.00 501 489,500.00 0.80% 5.23
FHLB 3133XL6Y4 06/18/07 06/18/09 06118108 720 708 100.0000 500,000.00 500,000.00 53,000.00 553,000.00 5.30% 5.300% 0.00 Coastal 0.00 501 499,450.00 0.81% 5.73
Subtotal 5,332,298.88 5,284,148.67 393,925.00 5,726,223.88 34,075.86 48,150.20 0.00 subtotal 5,298,098.88 8.61% 30.52
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Fund 502-W8,S CIP
FGIC N/A 100.0000 55,199.87 55,199.87 55,199.87 5.32% FGIC 502 55,199.87 0.09% 0.00
Texpool N/A 100.0000 386,784.51 386,784.51 386,784.51 5.29% Texpool 502 386,784.51 0.63% 0.00
FHLB 3133XK3S2 03/05/07 09/05/07 NIA 180 65 100.0000 200,000.00 200,000.00 5,150.00 205,150.00 5.15% 5.150% SAMCO 502 199,880.00 0.32% 0.21
FHLB 3133X4EM9 02/09/06 09/17/07 03117106 578 77 97.0000 170,000.00 164,900.00 10,336.00 180,336.00 5.01% 3.040% 2,038.49 DUNCAN 5,100.00 502 169,167.00 0.27% 0.21
FHLB 3133XJEKO 12121/06 12/21/07 06121107 360 171 100.0000 250,000.00 250,000.00 13,000.00 263,000.00 5.20% 5.200% SAMCO 502 249,750.00 0.40% 0.69
FHLB 3133MVOA4 10/12/06 02/11/08 10116/06 479 221 97.8200 375,000.00 366,825.00 19,687.50 394,687.50 5.21% 3.500% 2,223.96 VINING 8,175.00 502 370,800.00 0.60% 1.32
FHLB 3133MVZA4 11/16/06 02/15/08 449 225 97.9688 630,000.00 617,203.13 31,893.75 661,893.75 5.07% 3.375% 5,374.69 MERRILL 12,796.87 502 622,251.00 1.01% 2.27
FMAC 31315PKVO 02/15/07 02/15/08 08115107 360 225 100.0000 500,000.00 500,000.00 26,300.00 526,300.00 5.26% 5.260% FSW 502 499,600.00 0.81% 1.82
FMAC 3128X1AW7 04/05/07 05/14/08 05114107 399 314 98.6090 550,000.00 542,349.50 30,937.50 580,937.50 5.05% 3.750% 8,078.13 MERRILL 7,650.50 502 542,685.00 0.89% 2.80
FHLB 31339XW26 10/26/06 07/09/08 01108107 613 369 98.7100 380,000.00 375,098.00 34,200.00 414,200.00 5.39% 2.250% 3,953.06 DUNCAN 4,902.00 502 379,848.00 0.61% 2.26
FHLB 3133X8R61 04/12/07 07/15/08 N/A 453 375 98.8610 300,000.00 296,583.00 21,787.50 321,787.50 5.10% 4.150% 6,121.25 VINING 3,417.00 502 296,580.00 0.49% 1.84
FNMA 3136FBFJ9 02/06/07 01/30/09 01130108 714 570 100.0000 500,000.00 500,000.00 53,000.00 553,000.00 5.30% 5.300% 441.67 DUNCAN 502 499,400.00 0.81% 4.62
Subtotal 4,296,984.38 4,254,943.00 246,292.25 4,543,276.63 28,231.25 42,041.37 0.00 subtotal 4,271,945.38 6.93% 18.03
Fund 503-W&S Bond Reserve Fund
Texpool N/A 100.0000 405,015.27 405,015.27 0.00 405,015.27 5.29% Texpool 503 405,015.27 0.66% 0.00
Fund 505-Water Impact Fees
Texpool N/A 100.0000 47,260.05 47,260.05 0.00 47,260.05 5.29% Texpool 505 47,260.05 0.08% 0.00
FGIC N/A 100.0000 0.00 0.00 0.00 0.00 5.32% FGIC 505 0.00 0.00% 0.00
FNMA 31359MZB2 03/23/06 09/07/07 08107/06 524 67 99.0625 100,000.00 99,062.50 6,562.50 106,562.50 5.05% 4.375% MERRILL 937.50 505 99,800.00 0.16% 0.11
FNMA 31359MK51 01/04/07 09/28/07 NIA 264 88 100.0400 200,000.00 200,080.00 10,400.00 210,400.00 5.13% 5.200% SAMCO 505 199,880.00 0.32% 0.28
FMAC 3128X4PK1 01/26/06 10/19/07 04119/06 623 109 99.7200 500,000.00 498,600.00 46,000.00 546,000.00 4.76% 4.150% 5,590.97 VINING 1,400.00 505 499,350.00 0.82% 0.89
FNMA 3136F2VR6 04/20/06 12/11/07 06111/06 591 161 98.1250 500,000.00 490,625.00 40,000.00 540,000.00 5.20% 4.000% 7,166.67 VINING 9,375.00 505 496,950.00 0.81% 1.30
FHLB 3133XK6R1 03/19/07 03/19/08 09119/07 360 259 100.0000 500,000.00 500,000.00 26,000.00 526,000.00 5.20% 5.200% SAMCO 505 499,300.00 0.81% 2.10
FHLB 3133XASR9 04/12/07 09/15/08 WA 513 435 98.5300 250,000.00 246,325.00 15,000.00 265,000.00 5.08% 4.000% 750.00 VINING 3,675.00 505 246,325.00 0.40% 1.74
FHLB 3133X2CF0 05/14/07 11/19108 05116107 545 499 98.4090 500,000.00 492,045.00 41,000.00 541,000.00 5.21% 4.100% 9,965.28 Coastal 7,955.00 505 492,300.00 0.81% 4.05
Subtotal 2,597,260.05 2,573,997.55 184,962.50 2,782,222.55 23,472.92 23,342.50 0.00 subtotal 2,581,165.05 4.20% 10.47
Fund 507-W&S Emergency
FHLB 3133XJRT7 02/08/07 08/08/08 05108107 540 398 100.0000 500,000.00 500,000.00 39,975.00 539,975.00 5.33% 5.330% SAMCO 507 499,550.00 0.81% 3.22
Subtotal 500,000.00 500,000.00 39,975.00 539,975.00 subtotal 499,550.00 0.81% 3.22
City of Euless
Investment by Fund
June 30,2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of
TVDe Number Date Date Date in days) remaining Per 100 Value (Prin.Only) A mat'y Int.0 Mat'v Maturi Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM
Fund 508-Wastewater Impact Fees
FGIC N/A 100.0000 188,754.82 188,754.82 188,754.82 5.32% FGIC 508 188,754.82 0.31% 0.00
Texpool N/A 100.0000 181,698.04 181,698.04 181,698.04 5.29% Texpool 508 181,698.04 0.29% 0.00
FHLB 3133XJEKO 12/21/06 12/21/07 06121/07 360 171 100.0000 250,000.00 250,000.00 13,000.00 263,000.00 5.20% 5.200% SAMCO 508 249,750.00 0.40% 0.69
FMAC 3128X52J6 04/12/07 10/09/08 07109/07 537 459 100.0000 300,000.00 300,000.00 24,300.00 324,300.00 5.40% 5.400% 450.00 SAMCO 508 299,760.00 0.49% 2.23
FHLB 3133MYYS0 06/05/07 12/05/08 09105/07 540 515 97.4000 200,000.00 194,800.00 10,440.00 210,440.00 5.31% 3.480% 0.00 UBS 5,200.00 508 195,180.00 0.32% 1.62
Subtotal 1,120,452.86 1,115,252.86 47,740.00 1,168,192.86 450.00 5,200.00 0.00 subtotal 1,115,142.86 1.81% 4.55
Fund 510-Drainage
FGIC N/A 100.0000 0.00 0.00 0.00 5.32% FGIC 510 0.00 0.00% 0.00
Texpool NIA 100.0000 10,379.81 10,379.81 10,379.81 5.29% Texpool 510 10,379.81 0.02% 0.00
FNMA 31359MZB2 03/23/06 09/07/07 09107/06 524 67 99.0625 500,000.00 495,312.50 32,812.50 532,812.50 5.05% 4.375% 1,555.56 MERRILL 4,687.50 510 499,000.00 0.80% 0.54
Subtotal 510,379.81 505,692.31 32,812.50 543,192.31 1,555.56 4,687.50 0.00 subtotal 509,379.81 0.82% 0.54
Fund 511-Drainage CIP
FGIC N/A 100.0000 112,844.31 112,844.31 0.00 112,844.31 5.32% FGIC 511 112,844.31 0.18% 0.00
Texpool N/A 100.0000 915.40 915.40 915.40 5.29% Texpool 511 915.40 0.00% 0.00
FHLB 3133XA3K1 06/28/06 12/28/07 NIA 540 176 98.3657 250,000.00 245,914.25 16,312.50 266,312.50 5.50% 4.350% FSW 4,085.75 511 248,725.00 0.40% 0.71
FMAC 3128X1 HV2 04/17/07 06/12/08 06112107 415 342 97.5165 500,000.00 487,582.56 22,725.00 522,725.00 5.28% 3.030% 5,260.42 COASTAL 12,417.44 511 489,600.00 0.80% 2.73
Subtotal 863,759.71 847,256.52 39,037.50 902,797.21 5,260.42 16,503.19 0.00 subtotal 852,084.71 1.38% 3.44
Fund 512-Drainage Reserve
Texpool N/A 100.0000 232,130.65 232,130.65 0.00 232,130.65 5.29% Texpool 512 232,130.65 0.38% 0.00
Fund 520-Recreation Classes
FGIC N/A 100.0000 121,485.13 121,485.13 0.00 121,485.13 5.32% FGIC 520 121,485.13 0.20% 0.00
Texpool N/A 100.0000 128,018.12 128,018.12 128,018.12 5.29% Texpool 520 128,018.12 0.21% 0.00
Subtotal 249,503.25 249,503.25 0.00 249,503.25 0.00 0.00 0.00 subtotal 249,503.25 0.40% 0.00
m
A
Fund 521-Arbor Daze
FGIC N/A 100.0000 88,188.02 88,188.02 0.00 88,188.02 5.32% FGIC 521 88,188.02 0.14% 0.00
Texpool N/A 100.0000 1,215.24 1,215.24 0.00 1,215.24 5.29% Texpool 521 1,215.24 0.00% 0.00
Subtotal 89,403.26 89,403.26 0.00 89,403.26 0.00 0.00 0.00 subtotal 89,403.26 0.14% 0.00
Fund 530-Softball World-Operating
FGIC N/A 100.0000 93,824.45 93,824.45 0.00 93,824.45 5.32% FGIC 530 93,824.45 0.15% 0.00
Texpool N/A 100.0000 43,564.62 43,564.62 0.00 43,564.62 5.29% Texpool 530 43,564.62 0.07% 0.00
Subtotal 137,389.07 137,389.07 0.00 137,389.07 0.00 0.00 0.00 subtotal 137,389.07 0.22% 0.00
Fund 531-Softball World-CIP
FGIC N/A 100.0000 0.00 0.00 0.00 0.00 5.32% FGIC 531 0.00 0.00% 0.00
Texpool N/A 100.0000 32,447.76 32,447.76 0.00 32,447.76 5.29% Texpool 531 32,447.76 0.05% 0.00
Subtotal 32,447.76 32,447.76 0.00 32,447.76 0.00 0.00 0.00 subtotal 32,447.76 0.05% 0.00
Fund 540-Golf Course
Texpool N/A 100.0000 20,454.20 20,454.20 20,454.20 5.29% Texpool 540 20,454.20 0.03% 0.00
FGIC N/A 100.0000 0.00 0.00 0.00 5.32% FGIC 540 0.00 0.00% 0.00
FMACDN 313396PN7 04/20/07 11/21/07 NIA 211 141 97.0079 200,000.00 194,015.83 5,984.17 200,000.00 5.22% MERRILL 540 195,980.00 0.31% 0.44
Subtotal 220,454.20 214,470.03 5,984.17 220,454.20 0.00 0.00 0.00 0.00 subtotal 216,434.20 0.35% 0.44
Fund 541-Golf CIP
Texpool NIA 100.0000 1,644,440.02 1,644,440.02 0.00 1,644,440.02 5.29% Texpool 541 1,644,440.02 2.66% 0.00
Fund 550-Parks at Texas Star
Texpool N/A 100.0000 167,531.56 167,531.56 0.00 167,531.56 5.29% Texpool 550 167,531.56 0.27% 0.00
Fund 552-Phase 11 Athletic Complex
FGIC N/A 100.0000 0.00 0.00 0.00 0.00 5.32% FGIC 552 0.00 0.00% 0.00
Texpool N/A 100.0000 793,649.95 793,649.95 793,649.95 5.29% Texpool 552 793,649.95 1.28% 0.00
Subtotal 793,649.95 793,649.95 0.00 793,649.95 0.00 0.00 0.00 subtotal 793,649.95 1.28% 0.00
City of Euless
Investment by Fund
June 30,2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of
Tvoe Number Date Date Date in days) remaining Per 100 Value (Prin.Only) 0 mat,y Int.0D Mat'v Maturity Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM
Fund 601-Equipment Replacement
FGIC N/A 100.0000 104,821.26 104,821.26 104,821.26 5.32% FGIC 601 104,821.26 0.17% 0.00
Texpool N/A 100.0000 9,003.64 9,003.64 9,003.64 5.29% Texpool 601 9,003.64 0.01% 0.00
FNMA 31359MZB2 03/23/06 09/07/07 09107/06 524 67 99.0625 200,000.00 198,125.00 13,125.00 213,125.00 5.05% 4.375% MERRILL 1,875.00 601 199,600.00 0.32% 0.21
FHLB 3133XHXX5 01/22/07 11/27/07 NIA 305 147 99.9320 500,000.00 499,660.00 25,625.00 525,625.00 5.20% 5.125% 3,914.93 SAMCO 340.00 601 499,450.00 0.81% 1.20
FHLB 3133X5ZL5 12/18/06 01/30/08 04130107 402 210 98.3279 250,000.00 245,819.75 11,000.00 261,000.00 5.08% 3.520% 1,173.33 COASTAL 4,180.25 601 247,350.00 0.40% 0.84
FMAC 3128X52J6 04/12/07 10/09/08 07109107 537 459 100.0000 250,000.00 250,000.00 20,250.00 270,250.00 5.40% 5.400% SAMCO 601 249,800.00 0.40% 1.86
Subtotal 1,313,824.90 1,307,429.65 70,000.00 1,383,824.90 5,088.26 6,395.25 0.00 Subtotal 1,310,024.90 2.12% 4.11
Fund 610-Insurance
FGIC N/A 100.0000 32,946.22 32,946.22 32,946.22 5.32% FGIC 610 32,946.22 0.05% 0.00
Texpool N/A 100.0000 51,673.69 51,673.69 51,673.69 5.29% Texpool 610 51,673.69 0.08% 0.00
FHLB 3133XK3S2 03/05/07 09/05/07 NIA 180 65 100.0000 600,000.00 600,000.00 15,450.00 615,450.00 5.15% 5.150% SAMCO 610 599,640.00 0.97% 0.63
FMAC 3128X3KU6 10/13/06 12/03/07 12103106 410 153 98.5760 200,000.00 197,152.00 12,000.00 212,000.00 5.30% 4.000% 2,888.89 DUNCAN 2,848.00 610 198,860.00 0.32% 0.50
FHLB 3133XC6K4 01/24/07 12/27/07 NIA 333 177 98.9536 150,000.00 148,430.40 6,150.00 156,150.00 5.27% 4.100% 461.25 DUNCAN 1,569.60 610 149,055.00 0.24% 0.43
FMAC 3128X34D2 10/12/06 02/25/08 11/25106 493 235 99.7500 300,000.00 299,250.00 23,250.00 323,250.00 5.21% 4.500% 1,762.50 VINING 750.00 610 299,880.00 0.49% 1.14
FHLB 3133X7HM9 10/26/06 03/28/08 nla 512 268 98.1748 50,000.00 49,087.39 3,500.00 53,500.00 5.35% 4.000% 655.56 FSW 912.61 610 49,515.00 0.08% 0.22
FHLB 3133XODZ9 02/05/07 08/12/08 02107107 547 402 97.9000 500,000.00 489,500.00 37,500.00 537,500.00 5.20% 3.750% 9,010.42 VINING 10,500.00 610 491,800.00 0.81% 3.24
FHLB 3133X8NG3 12/21/06 09/23/08 03123/07 632 443 99.1310 100,000.00 99,131.00 7,000.00 107,000.00 5.34% 3.500% 977.78 DUNCAN 869.00 610 99,770.00 0.16% 0.72
FMAC 3128X52,16 04/12/07 10/09/08 07109107 537 459 100.0000 250,000.00 250,000.00 20,250.00 270,250.00 5.40% 5.400% SAMCO 610 249,800.00 0.40% 1.86
FHLB 3133XHCY6 10/17/06 10/17/08 01117/07 720 467 99.7810 500,000.00 498,905.00 50,000.00 550,000.00 5.48% 5.000% COASTAL 1,095.00 610 499,750.00 0.81% 3.77
subtotal 2,734,619.91 2,716,075.69 175,100.00 2,909,719.91 15,756.40 18,544.21 0.00 subtotal 2,722,689.91 4.42% 12.50
Fund 615-Risk Management
FGIC N/A 100.0000 177,846.53 177,846.53 177,846.53 5.32% FGIC 615 177,846.53 0.29% 0.00
Texpool N/A 100.0000 13,624.34 13,624.34 13,624.34 5.29% Texpool 615 13,624.34 0.02% 0.00
FHLB 3133X13V7 04/12/07 09/30/08 NIA 528 450 98.7216 125,000.00 123,402.00 7,968.75 132,968.75 5.17% 4.250% 177.08 DUNCAN 1,598.00 615 123,475.00 0.20% 0.90
FNMA 3136FBHL2 03/27/07 03/27/09 06127107 720 627 100.0000 700,000.00 700,000.00 75,250.00 775,250.00 5.38% 5.375% FSW 615 699,090.00 1.13% 7.10
Subtotal 1,016,470.87 1,014,872.87 83,218.75 1,099,689.62 177.08 1,598.00 0.00 subtotal 1,014,035.87 1.64% 8.00
Fund 705-Dallas Stars Escrow Reserve
Texpool N/A 100.0000 1,971,108.08 1,971,108.08 1,971,108.08 5.29% Texpool 705 1,971,108.08 3.19% 0.00
I.' TOTAL 61,914,526.22 61,501,298.95 3,832,437.42 65,732,003.22 300,552.86 398,830.80 564.00 TOTAL 61,607,137.52 100.00% 286.38
City of Euless
Investment by Fund
September 30,2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc.FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southv✓est LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CO Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of
Type Number Date Date Date in days) remaining Per 100 Value (Prin.Only) ft mat'y Int.01i Mat'v Maturi Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM
Fund 101-General Fund
FGIC N/A 100.0000 153,666.77 153,666.77 153,666.77 4.89% FGIC 101 153,666.77 0.25% 0.00
Texpool N/A 100.0000 319,924.71 319,924.71 319,924.71 5.13% Texpool 101 319,924.71 0.51% 0.00
FHLB 3133XFCU6 05/02/06 11/02/07 05102107 540 32 100.0000 500,000.00 500,000.00 39,000.00 539,000.00 5.20% 5.200% Duncan 101 500,150.00 0.80% 0.26
FHLB 3133XFCU8 05/02/06 11/02/07 05102107 540 32 100.0000 500,000.00 500,000.00 39,000.00 539,000.00 5.20% 5.200% TEJAS 101 500,150.00 0.80% 0.26
FHLB 3133XDTU5 11/28/05 11/28/07 02128106 720 58 100.0000 500,000.00 500,000.00 50,000.00 550,000.00 5.00% 5.000% FSW 101 500,200.00 0.80% 0.47
FNMA 31359MZN6 06/21/07 12/13/07 09113107 172 73 99.8481 1,000,000.00 998,481.47 25,000.00 1,025,000.00 5.32% 5.000% 1,111.11 Coastal 1,518.53 101 1,000,500.00 1.61% 1.17
FHLB 3133XE2WB 09/01/06 12/28/07 08126106 477 88 99.4652 200,000.00 198,930.40 15,000.00 215,000.00 5.42% 5.000% 1,750.00 COASTAL 1,069.60 101 200,120.00 0.32% 0.28
FNMA 31359MF65 08/18/06 02/01/08 02101107 523 121 99.3125 837,000.00 831,245.63 59,636.25 896,636.25 5.25% 4.750% 1,877.44 MERRILL 5,754.37 101 836,916.30 1.34% 1.62
FHLB 3133X3MH3 09/19/06 02/11/08 09125106 502 131 97.2849 250,000.00 243,212.30 12,656.25 262,656.25 5.42% 3.375% 890.63 COASTAL 6,787.70 101 248,725.00 0.39% 0.51
FHLB 3133X5CL0 12/18/06 04/14/08 01114107 476 194 97.6950 500,000.00 488,474.76 24,000.00 524,000.00 5.20% 3.200% 2,844.44 COASTAL 11,525.24 101 495,750.00 0.79% 1.53
FNMA 31359MDU4 09/05/07 05/18/08 WC 253 228 100.6250 500,000.00 503,125.00 30,000.00 530,000.00 5.06% 6.000% 9,166.67 Samco 3125.00 101 503,400.00 0.82% 1.88
FNMA 3136F3XS0 01/10/07 06/12/08 06112107 512 252 97.1875 1,000,000.00 971,875.00 45,000.00 1,045,000.00 5.07% 3.000% 2,333.33 MERRILL 28,125.00 101 988,200.00 1.57% 3.95
FHLB 31339XVW1 06/01/07 06/26/08 06/26107 376 266 99.6550 500,000.00 498,275.00 34,375.00 534,375.00 5.25% 3.750% 8,072.92 Coastal 1,725.00 101 500,300.00 0.81% 2.17
FHLB 31339XM43 08/24/06 06/30/08 09130106 666 270 98.7900 300,000.00 296,370.00 24,000.00 324,000.00 5.35% 4.000% 1,800.00 VINING 3,630.00 101 300,420.00 0.48% 1.30
FHLB 31339YQ39 12/20/06 07/30/08 01130107 580 300 97.5300 500,000.00 487,650.00 34,000.00 534,000.00 5.01% 3.400% 6,611.11 VINING 12,350.00 101 494,850.00 0.80% 2.39
FHLB 3133XDAW1 03/12/07 10/03/08 03114107 561 363 99.1250 950,000.00 941,687.50 85,500.00 1,035,500.00 5.09% 4.500% 18,881.25 VINING 8,312.50 101 948,575.00 1.55% 5.61
FHLB 3133XL4Y6 06/04/07 12/04/08 09104107 540 424 100.0000 1,000,000.00 1,000,000.00 80,250.00 1,080,250.00 5.35% 5.350% 0.00 Samco 0.00 101 1,001,500.00 1.61% 6.82
FHLB 3133XJ51_8 12/15/06 12/15/08 03115107 720 435 100.0000 1,000,000.00 1,000,000.00 105,000.00 1,105,000.00 5.25% 5.250% FSW 101 1,001,500.00 1.61% 7.00
FMAC 3128X3U76 02/14/07 12/22/08 06122107 668 442 98.1406 500,000.00 490,703.13 41,400.00 541,400.00 5.20% 4.140% 2,990.00 VINING 9,296.87 101 497,650.00 0.79% 3.51
FMAC 3128X5VZ8 01/09/07 01/09/09 07109107 720 459 100.0000 1,000,000.00 1,000,000.00 105,200.00 1,105,200.00 5.26% 5.260% FSW 101 1,000,200.00 1.61% 7.39
FMAC 3133F1BT3 01/04/07 08/15/09 01108107 941 675 99.2067 500,000.00 496,033.29 72,500.00 572,500.00 5.26% 4.000% 7,722.22 COASTAL 3,966.71 101 499,800.00 0.81% 5.47
Subtotal 12,510,591.47 12,419,654.94 921,517.50 13,432,108.97 66,051.12 94,061.52 3,125.00 subtotal 12,492,497.77 20.09% 53.60
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Fund 102-General Fund-Emergency
FHLB 3133XJ4X3 12/28/06 12/28/11 12128107 1800 1528 100.0000 500,000.00 500,000.00 131,250.00 631,250.00 5.25% 5.250% COASTAL 102 500,400.00 0.80% 12.30
Fund 103-General Fund Contingency
Texpool N/A 100.0000 0.00 0.00 0.00 5.13% Texpool 103 0.00 0.00% 0.00
FHLB 3133XJ4X3 12/28/06 12/28/11 12128107 1800 1528 100.0000 500,000.00 500,000.00 131,250.00 631,250.00 5.25% 5.250% COASTAL 103 500,400.00 0.80% 12.30
subtotal 500,000.00 500,000.00 131,250.00 631,250.00 500,400.00 0.01 12.30
Fund 201-Hotel/Motel
FGIC N/A 100.0000 75,756.09 75,756.09 75,756.09 4.89% FGIC 201 75,756.09 0.12% 0.00
Texpool N/A 100.0000 43,747.68 43,747.68 43,747.68 5.13% Texpool 201 43,747.68 0.07% 0.00
subtotal 119,503.77 119,503.77 0.00 119,503.77 0.00 0.00 0.00 subtotal 119,503.77 0.19% 0.00
Fund 210-Half Cent Operations
Texpool N/A 100.0000 388,596.22 388,596.22 0.00 388,596.22 5.13% Texpool 210 388,596.22 0.63% 0.00
FGIC N/A 100.0000 203,212.64 203,212.64 0.00 203,212.64 4.89% FGIC 210 203,212.64 0.33% 0.00
FMACDN 313396PN7 04/20/07 11/21/07 NIA 211 51 97.0079 100,000.00 97,007.92 2,992.08 100,000.00 5.22% MERRILL 210 99,320.00 0.16% 0.08
FHLB 3133XJ4T2 12/13/06 12/03107 03113107 350 63 100.0000 500,000.00 500,000.00 25,800.00 525,800.00 5.16% 5.160% SAMCO 210 500,350.00 0.80% 0.51
FHLB 3133XDPN5 09/14/07 11/10/08 09/18107 416 400 99.8590 560,000.00 559,210.40 40,950.00 600,950.00 5.00% 4.875% 9,403.33 FSW 789.60 210 559,856.81 0.92% 3.66
FMAC 3128X6GQ3 07/16/07 07/16/09 01116108 720 646 100.0000 200,000.00 200,000.00 22,000.00 222,000.00 5.50% 5.500% 0.00 FSW 0.00 210 200,395.12 0.32% 2.08
Subtotal 1,951,808.86 1,948,027.18 91,742.08 2,040,558.86 9,403.33 789.60 0.00 subtotal 1,951,730.79 3.15% 0.59
Fund 211-Half Cent Reserve
FGIC N/A 100.0000 987,971.14 987,971.14 0.00 987,971.14 4.89% FGIC 211 987,971.14 1.59% 0.00
Fund 220-Crime Control and Prevention
FGIC N/A 100.0000 0.00 0.00 0.00 0.00 4.89% FGIC 220 0.00 0.00% 0.00
Texpool N/A 100.0000 197,895.46 197,895.46 0.00 197,895.46 5.13% Texpool 220 197,895.46 0.32% 0.00
FHLB 3133XC6K4 01/24/07 12/27/07 NIA 333 87 98.9536 150,000.00 148,430.40 6,150.00 156,150.00 5.27% 4.100% 461.25 DUNCAN 1,569.60 220 149,760.00 0.24% 0.21
FMAC 3128X1 R90 03/16/07 10/14/08 04114107 568 374 98.4774 250,000.00 246,193.50 20,000.00 270,000.00 5.01% 4.000% 4,222.22 COASTAL 3,806.50 220 248,600.00 0.40% 1.51
Subtotal 597,895.46 592,519.36 26,150.00 624,045.46 4,683.47 5,376.10 0.00 subtotal 596,255.46 0.96% 1.72
Fund 230-Police DEA(Federal)
FGIC N/A 100.0000 130,514.77 130,514.77 130,514.77 4.69% FGIC 230 130,514.77 0.21% 0.00
Texpool N/A 100.0000 50,733.52 50,733.52 0.00 50,733.52 5.13% Texpool 230 50,733.52 0.08% 0.00
Subtotal 181,248.29 181,248.29 0.00 181,248.29 0.00 0.00 0.00 subtotal 181,248.29 0.29% 0.00
Fund 231-Police DEA(State)
FGIC N/A 100.0000 12,392.79 12,392.79 12,392.79 4.89% FGIC 231 12,392.79 0.02% 0.00
Texpool N/A 100.0000 104,411.33 104,411.33 0.00 104,411.33 5.13% Texpool 231 104,411.33 0.17% 0.00
Subtotal 116,804.12 116,804.12 0.00 116,804.12 0.00 0.00 0.00 subtotal 116,804.12 0.19% 0.00
City of Euless
Investment by Fund
September 30,2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mon.Assoc.FMAC Fed.Home Loan Mori.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of
Type Number Date Date Date in days) remaining Per 100 Value (Prin.Only) A mat'v Int.A Mat'v Maturi Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM
Fund 240-Car Rental Fund
FGIC N/A 100.0000 9,921.50 9,921.50 9,921.50 4.89% FGIC 240 9,921.50 0.02% 0.00
Texpool N/A 100.0000 2,475,060.44 2,475,060.44 2,475,060.44 5.13% Texpool 240 2,475,060.44 3.98% 0.00
FMAC 3128X1 LC9 07/10/07 12/17/07 NIA 157 77 98.8794 500,000.00 494,396.93 6,750.00 506,750.00 5.32% 2.700% 862.50 COASTAL 5,603.07 240 497,800.00 0.80% 0.61
FMAC 3128XOQ36 01/17/07 03/14/08 03114107 417 164 97.8800 500,000.00 489,400.00 24,375.00 524,375.00 5.15% 3.250% 5,552.08 VINING 10,600.00 240 496,550.00 0.80% 1.31
FHLB 3133MXAB5 05/25/06 03/24/08 05130106 659 174 96.6780 500,000.00 483,390.00 33,750.00 533,750.00 5.30% 3.375% 2,859.38 VINING 16,610.00 240 496,350.00 0.78% 1.36
FHLB 3133XC2A0 09/21/07 03/26/08 09128/07 187 178 99.8130 1,000,000.00 998,130.00 31,950.00 1,031,950.00 4.63% 4.260% 9,821.67 Samco 1,870.00 240 998,130.00 1.62% 2.89
FMAC 312BXO6E4 06/09/06 04/23/08 06113/06 674 203 96.5000 350,000.00 337,750.00 23,625.00 373,625.00 5.36% 3.375% 1,509.38 VINING 12,250.00 240 347,235.00 0.55% 1.11
FMAC 3128X44EB 08/28/06 04/28/08 10/28/06 599 208 99.8594 500,000.00 499,296.88 53,500.00 553,500.00 5.43% 5.350% 8,990.97 VINING 703.12 240 500,250.00 0.82% 1.70
FHLB 3133X751-4 11/29/06 05/19/08 12/04106 530 229 98.7000 500,000.00 493,500.00 30,750.00 530,750.00 5.03% 4.100% 569.44 VINING 6,500.00 240 497,900.00 0.80% 1.82
FHLB 3133XKV28 06/04/07 06/04/08 12104/07 360 244 100.0000 300,000.00 300,000.00 15,810.00 315,810.00 5.27% 5.270% 0.00 UBS 0.00 240 300,300.00 0.48% 1.18
FHLB 31339XQ56 05/16/07 06/30/08 06130107 404 270 97.6121 500,000.00 488,060.50 22,500.00 522,500.00 5.22% 3.000% 5,666.67 Coastal 11,939.50 240 493,750.00 0.79% 2.15
FMAC 3128X1QW0 08/28/06 07/14/08 01114107 676 284 95.7650 200,000.00 191,530.00 12,000.00 212,000.00 5.40% 3.000% 733.33 COASTAL 8,470.00 240 197,400.00 0.31% 0.88
FHLB 31339YYD8 12/07/06 08/13/08 02113107 606 313 99.2950 500,000.00 496,475.00 40,000.00 540,000.00 5.02% 4.000% 6,333.33 VINING 3,525.00 240 500,250.00 0.81% 2.53
FHLB 3133X4UU3 12/20/06 09/30/08 12130106 640 360 98.8825 500,000.00 494,412.71 43,125.00 543,125.00 5.04% 3.750% 4,166.67 COASTAL 5,587.29 240 499,350.00 0.80% 2.89
FNMA 31359M41-13 01/29/07 01/29/09 01128108 720 479 100.0000 200,000.00 200,000.00 21,000.00 221,000.00 5.25% 5.250% DUNCAN 240 200,460.00 0.32% 1.54
FMAC 3137EAAA7 05/25/07 02/17/09 nla 622 497 99.7668 1,000,000.00 997,667.89 97,500.00 1,097,500.00 5.01% 4.875% 13,270.83 UBS 2,332.11 240 1,005,300.00 1.63% 8.09
FHLB 3133X66X9 09/12/07 04/20/09 09/17107 578 560 98.7610 500,000.00 493,805.00 40,000.00 540,000.00 4.81% 4.000% 7,868.89 Vining 6,195.00 240 491,989.65 0.81% 4.52
FNMA 3139BADSB 06/20/07 06/19/09 06119/08 719 619 100.0380 1,000,000.00 1,000,380.00 107,500.00 1,107,500.00 5.34% 5.375% 149.31 Samco 380.00 240 1,004,700.00 1.61% 9.97
FNMA 3136F5CY5 07/17/07 08/25/09 07126107 758 685 97.7200 500,000.00 488,600.00 51,875.00 551,875.00 5.31% 4.150% 8,184.72 VINING 11,400.00 240 491,168.30 0.80% 5.48
Subtotal 11,534,981.94 11,431,776.84 656,010.00 12,190,991.94 76,559.17 103,585.09 380.00 subtotal 11,503,864.89 18.52% 50.02
Fund 301-Developer's Escrow
FGIC N/A 100.0000 37,944.49 37,944.49 37,944.49 4.89% FGIC 301 37,944.49 0.06% 0.00
Texpool N/A 100.0000 280,098.43 280,098.43 280,098.43 5.13% Texpool 301 280,098.43 0.45% 0.00
FHLB 31339YQ39 01/04/07 07/30/08 01130107 566 300 97.5000 500,000.00 487,500.00 34,000.00 534,000.00 5.07% 3.400% 7,272.22 VINING 12,500.00 301 494,850.00 0.80% 2.39
FNMA 31359M4H3 01/29/07 01/29/09 01129108 720 479 100.0000 200,000.00 200,000.00 21,000.00 221,000.00 5.25% 5.250% DUNCAN 301 200,460.00 0.32% 1.54
FMAC 3133F1BT3 01/04/07 08/15/09 01108107 941 675 99.2067 500,000.00 496,033.30 72,500.00 572,500.00 5.26% 4.000% 7,722.22 COASTAL 3,966.70 301 499,800.00 0.81% 5.47
Subtotal 1,518,042.92 1,501,576.21 127,500.00 1,645,542.92 14,994.44 16,466.70 0.00 subtotal 1,513,152.92 2.44% 9.40
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Fund 305-Streets CIP
FGIC N/A 100.0000 5,459.17 5,459.17 0.00 5,459.17 4.89% FGIC 305 5,459.17 0.01% 0.00
Texpool N/A 100.0000 1,363,707.32 1,363,707.32 0.00 1,363,707.32 5.13% TEXPOOL 305 1,363,707.32 2.19% 0.00
FHLB 3133XJWX2 03/01/07 02/01/08 NIA 330 121 100.0000 500,000.00 500,000.00 24,062.50 524,062.50 5.25% 5.250% SAMCO 305 500.700.00 0.80% 0.97
FFCB 31331TQU8 03/08/07 07/28/08 03114107 500 29B 97.8777 250,000.00 244,694.25 13,312.50 263,312.50 5.15% 3.550% 986.11 COASTAL 5,305.75 305 247,750.00 0.40% 1.18
FNMA 3136F7GK7 09/12/07 10127/08 01127108 405 387 99.6500 100,000.00 99,650.00 5,725.00 105,725.00 4.90% 4.580% 571.07 Duncan 350.00 305 99,917.92 0.16% 0.62
FHLMC 3128X2JW6 09/26/07 01/14/09 10101107 468 464 99.0595 150,000.00 148,589.25 9,000.00 159,000.00 4.75% 4.000% 1,200.00 Duncan 1,410.75 305 146,106.51 0.24% 1.12
FHLB 3133XJHK7 01116/07 01/16/09 01116108 720 466 100.0000 400,000.00 400,000.00 41,000.00 441,000.00 5.13% 5.125% DUNCAN 305 400,680.00 0.64% 3.00
FHLB 3133XJSH2 02105/07 01/30/09 01/30106 715 480 100.0000 490,000.00 490,000.00 51,450.00 541,450.00 5.25% 5.250% 357.29 FSW 305 491,127.00 0.79% 3.79
FFCB 31331XSL7 03112/07 03/12/09 720 522 100.0000 525,000.00 525,000.00 50,400.00 575,400.00 4.80% 4.800% MERRILL 305 527,467.50 0.84% 4.41
Subtotal 3,784,166.49 3,777,099.99 194,950.00 3,979,116.49 3,114.47 7,066.50 0.00 subtotal 3,784,915.41 6.08% 15.09
Fund 310-Halt Cent CIP
FGIC N/A 100.0000 65,168.27 85,168.27 0.00 85,168.27 4.89% FGIC 310 85,168.27 0.14% 0.00
Texpool N/A 100.0000 8,807.16 8,807.16 8,807.16 5.13% Texpool 310 8,807.16 0.01% 0.00
FMAC 3128X52J6 04/12/07 10/09/08 07/09/07 539 369 100.0000 200,000.00 200,000.00 16,200.00 216,200.00 5.40% 5.400% SAMCO 310 200,040.00 0.32% 1.19
Subtotal 293,975.43 293,975.43 16,200.00 310,175.43 0.00 0.00 0.00 subtotal 294,015.43 0.47% 1.19
Fund 320-G.O.CIP-Fire Station
Texpool N/A 100.0000 28,417.88 28,417.88 28,417.88 5.13% Texpool 320 28,417.88 0.05% 0.00
Subtotal 28,417.88 28,417.88 28,417.88 0.00 0.00 0.00 subtotal 28,417.88 0.05% 0.00
Fund 325-Police Facility CIP
FGIC N/A 100.0000 30,948.96 30,948.96 0.00 30,948.96 4.89% FGIC 325 30,948.96 0.05% 0.00
Subtotal 30,948.96 30,948.96 0.00 30,948.96 0.00 0.00 0.00 subtotal 30,948.96 0.05% 0.00
Fund 330-Car Rental CIP
FGIC N/A 100.0000 (O.OD) (0.00) (0.00) 4.89% FGIC 330 (0.00) 0.00% 0.00
Texpool N/A 100.0000 7,845.35 7,845.35 7,845.35 5.13% Texpool 330 7,845.35 0.01% 0.00
FHLB 3133XKV28 06/04/07 06/04/08 12104107 360 244 100.0000 200,000.00 200,000.00 10,540.00 210,540.00 5.27% 5.270% 0.00 UBS 0.00 330 200,200.00 0.32% 0.79
FHLB 3133X2NL5 03116/07 12/15/08 03120107 629 435 98.3354 250,000.00 245,838.50 20,000.00 270,000.00 5.00% 4.000% 2,527.78 COASTAL 4,161.50 330 248,425.00 0.40% 1.74
FNMA 31359M41-13 01/29/07 01/29/09 01129108 720 479 100.0000 100,000.00 100,000.00 10,500.00 110,500.00 5.25% 5.250% DUNCAN 330 100,230.00 0.16% 0.77
FHLB 3133XGWK64 09/18/07 09/18/09 09/18108 720 708 100.1430 300,000.00 300,429.00 30,960.00 330,960.00 5.01% 5.160% Duncan 429.00 330 301,681.95 0.48% 3.42
Subtotal 857,845.34 854,112.84 72,000.00 929,845.34 30.56% 19.68% 2,527.78 4,161.50 429.00 subtotal 858,382.29 1.38% 6.72
Fund 401-Debt Service
Texpool N/A 100.0000 273.65 273.65 273.65 5.13% Texpool 401 273.65 0.00% 0.00
City of Euless
Investment by Fund
September 30,2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc.FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of
Tvoe Number Date Date Date in days) remaining Per 100 Value (Prin.Only) A mat'v Int.0 Mat'v Maturi Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM
FGIC N/A 100.0000 3,916.33 3,916.33 3,916.33 4.89% FGIC 401 3,916.33 0.01% 0.00
FMACDN 313396PN7 04/20/07 11/21/07 WA 211 51 97.0079 200,000.00 194,015.83 5,984.17 200,000.00 5.22% MERRILL 401 198,640.00 0.31% 0.16
FHLB 3133XKV28 06/04/07 06/04/08 12104/07 360 244 100.0000 500,000.00 500,000.00 26,350.00 526,350.00 5.27% 5.270% 0.00 UBS 0.00 401 500,500.00 0.80% 1.96
FHLB 3133XJHK7 01/16/07 01116/09 01116108 720 466 100.0000 100,000.00 100,000.00 10,250.00 110,250.00 5.13% 5.125% DUNCAN 401 100,170.00 0.16% 0.75
Subtotal 804,189.98 798,205.82 42,584.17 840,789.98 25.63% 10.395% 0.00 0.00 0.00 subtotal 803,499.98 1.28% 2.87
Fund 402-Star Center Debt Service
TexpoDl N/A 100.0000 152,742.68 152,742.68 152,742.68 5.13% Texpool 402 152,742.68 0.25% 0.00
Subtotal 152,742.68 152,742.68 0.00 152,742.68 0.00 0.00 0.00 subtotal 152,742.68 0.25% 0.00
Fund 501-Water and Sewer
LOGIC N/A 100.0000 67.03 67.03 67.03 5.39% LOGIC 501 67.03 0.00% 0.00
FGIC N/A 100.0000 58,570.15 56,570.15 58,570.15 4.89% FGIC 501 58,570.15 0.09% 0.00
Texpool N/A 100.0000 1,084,513.49 1,084,513.49 1,084,513.49 5.13% TEXPOOL 501 1,084,513.49 1.75% 0.00
FHLB 3133XC6K4 01/12/07 12/27/07 NIA 345 87 98.9700 500,000.00 494,850.00 20,500.00 520,500.00 5.21% 4.100% 854.17 SAMCO 5,150.00 501 499,200.00 0.80% 0.69
FNMA 3136F6Q85 08/16/06 03/24/08 09124106 578 174 98.2800 300,000.00 294,840.00 25,860.00 325,860.00 5.44% 4.310% 5,100.17 DUNCAN 5,160.00 501 299,070.00 0.48% 0.84
FHLMC 3128X03N7 12/22/06 04/01/08 NIA 459 181 98.1630 500,000.00 490,815.00 26,250.00 526,250.00 5.00% 3.500% 3,937.50 VINING 9,185.00 501 496,600.00 0.80% 1.44
FNMA 3136F7GK7 09/12/07 10/27/08 01/27/08 405 387 99.6500 150,000.00 149,475.00 8,587.50 158,587.50 4.90% 4.580% 870.20 Duncan 525.00 501 149,876.88 0.24% 0.94
FNMA 31398AAF9 06/08/07 11/03/08 NIA 505 393 99.5270 500,000.00 497,634.80 36,750.00 536,750.00 5.25% 4.900% 2,381.94 UBS 2,365.20 501 501,900.00 0.80% 3.16
FHLB 3133MYYS0 06/05/07 12/05/08 09105107 540 425 97.4000 200,000.00 194,800.00 10,440.00 210,440.00 5.31% 3.480% 0.00 UBS 5,200.00 501 197,620.00 0.31% 1.33
FHLB 31339X4U5 04/18/07 12/12/08 06112107 594 432 99.5000 500,000.00 497,500.00 40,000.00 540,000.00 5.32% 4.000% 7,000.00 VINING 2,500.00 501 500,450.00 0.81% 3.51
FNMA 3136F8HL2 03/27/07 03/27/09 06127107 720 537 100.0000 300,000.00 300,000.00 32,250.00 332,250.00 5.38% 5.375% FSW 501 300,660.00 0.48% 2.59
FMAC 3128X3AD5 06/25/07 04/27/09 06127107 662 567 97.7100 500,000.00 488,550.00 40,000.00 540,000.00 5.32% 4.000% 3,222.22 Vining 11,450.00 501 496,250.00 0.79% 4.49
FHLB 3133XL6Y4 06/18/07 06/18/09 06118108 720 618 100.0000 500,000.00 500,000.00 53,000.00 553,000.00 5.30% 5.300% 0.00 Coastal 0.00 501 502,600.00 0.80% 4.97
Subtotal 5,093,150.67 5,051,615.46 293,637.50 5,386,788.17 67.84% 43.545% 23,366.20 41,535.20 0.00 subtotal 5,087,377.55 8.17% 23.97
m
Fund 502-W&S CIP
FGIC N/A 100.0000 55,895.69 55,895.69 55,895.69 4.89% FGIC 502 55,895.69 0.09% 0.00
Texpool N/A 100.0000 412,061.70 412,061.70 412,061.70 5.13% Texpool 502 412,061.70 0.66% 0.00
FHLB 3133X4EJ6 08/24/07 12118/07 09118107 114 78 99.4136 435,000.00 432,449.06 10,766.25 445,766.25 5.20% 3.300% 6,220.50 COASTAL 2,550.94 502 433,651.50 0.71% 0.55
FHLB 3133XJEKO 12121/06 12121/07 06121107 360 81 100.0000 250,000.00 250,000.00 13,000.00 263,000.00 5.20% 5.200% SAMCO 502 250,250.00 0.40% 0.33
FHLB 3133MVQA4 10112/06 02/11/08 10116106 479 131 97.8200 375,000.00 366,825.00 19,687.50 394,687.50 5.21% 3.500% 2,223.96 VINING 8,175.00 502 373,275.00 0.59% 0.78
FHLB 3133MVZA4 11116/06 02/15/08 449 135 97.9688 630,000.00 617,203.13 31,893.75 661,893.75 5.07% 3.375% 5,374.69 MERRILL 12,796.87 502 626,787.00 1.00% 1.35
FMAC 3128X1AW7 04/05/07 05/14/08 05/14/07 399 224 98.6090 550,000.00 542,349.50 30,937.50 580,937.50 5.05% 3.750% 8,078.13 MERRILL 7,650.50 502 546,590.00 0.89% 1.98
FHLB 3133X8R61 04/12/07 07/15/08 NIA 453 285 98.8610 300,000.00 296,583.00 21,787.50 321,767.50 5.10% 4.150% 6,121.25 VINING 3,417.00 502 298,800.00 0.49% 1.39
FNMA 3136F7GK7 09/12/07 10/27/08 01/27108 405 387 99.6500 100,000.00 99,650.00 5,725.00 105,725.00 4.90% 4.580% 571.07 Duncan 350.00 502 99,917.92 0.16% 0.62
FNMA 3136FBFJ9 02/06/07 01/30/09 01/30108 714 480 100.0000 500,000.00 500,000.00 53,000.00 553,000.00 5.30% 5.300% 441.67 DUNCAN 502 501,250.00 0.81% 3.87
Subtotal 3,607,957.39 3,573,017.08 186,797.50 3,794,754.89 51.06% 33.155% 29,031.27 34,940.31 0.00 subtotal 3,598,478.81 5.80% 10.87
Fund 503-W&S Bond Reserve Fund
Texpool N/A 100.0000 411,319.29 411,319.29 0.00 411,319.29 5.13% Texpool 503 411,319.29 0.66% 0.00
Fund 504-Service Center Fund
Texpool N/A 100.0000 100,806.97 100,806.97 0.00 100,806.97 5.13% Texpool 504 100,806.97 0.16% 0.00
Fund 505-Water Impact Fees
Texpool N/A 100.0000 47,995.64 47,995.64 0.00 47,995.64 5.13% Texpool 505 47,995.64 0.08% 0.00
FGIC N/A 100.0000 0.00 0.00 0.00 0.00 4.89% FGIC 505 0.00 0.00% 0.00
FMAC 3128X4PK1 01/26/06 10/19/07 04119106 623 19 99.7200 500,000.00 498,600.00 46,000.00 546,000.00 4.76% 4.150% 5,590.97 VINING 1,400.00 505 500,050.00 0.81% 0.15
FNMA 3136F2VR6 04/20/06 12/11/07 06111106 591 71 98.1250 500,000.00 490,625.00 40,000.00 540,000.00 5.20% 4.000% 7,166.67 VINING 9,375.00 505 499,250.00 0.80% 0.57
FHLB 3133XASR9 04/12/07 09/15/08 NIA 513 345 98.5300 250,000.00 246,325.00 15,000.00 265,000.00 5.08% 4.000% 750.00 VINING 3,675.00 505 248,650.00 0.40% 1.37
FHLB 3133X2CF0 05/14/07 11/19/08 05116107 545 409 98.4090 500,000.00 492,045.00 41,000.00 541,000.00 5.21% 4.100% 9,965.28 Coastal 7,955.00 505 497,450.00 0.81% 3.30
FHLB 31339XTN4 09/07/07 01/09/09 10109107 482 459 97.9450 760,000.00 744,382.00 37,050.00 797,050.00 4.85% 3.250% 3,979.44 Merrill 15,618.00 505 746,779.65 1.20% 5.53
Subtotal 2,557,995.64 2,519,972.64 179,050.00 2,737,045.64 35.13% 19.500% 27,452.36 38,023.00 0.00 subtotal 2,540,175.29 4.10% 10.93
Fund 507-W&S Emergency
Texpool N/A 100.0000 251,123.19 251,123.19 0.00 251,123.19 5.13% Texpool 507 251,123.19 0.40% 0.00
FHLB 3133XJRT7 02/08/07 08/08/08 05108107 540 308 100.0000 250,000.00 250,000.00 19,987.50 269,987.50 5.33% 5.330% SAMCO 507 250,200.00 0.40% 1.24
Subtotal 501,123.19 501,123.19 19,987.50 521,110.69 subtotal 501,323.19 0.81% 1.24
Fund 508-Wastewater Impact Fees
FGIC N/A 100.0000 191,134.16 191,134.16 191,134.16 4.89% FGIC 508 191,134.16 0.31% 0.00
Texpool N/A 100.0000 184,526.16 184,526.16 184,526.16 5.13% Texpool 508 184,526.16 0.30% 0.00
FHLB 3133XJEKO 12/21/06 12121/07 06/21107 360 81 100.0000 250,000.00 250,000.00 13,000.00 263,000.00 5.20% 5.200% SAMCO 508 250,250.00 0.40% 0.33
FMAC 3128X52J6 04112/07 10/09/08 07/09107 539 369 100.0000 300,000.00 300,000.00 24,300.00 324,300.00 5.40% 5.400% 450.00 SAMCO 508 300,060.00 0.48% 1.78
City of Euless
Investment by Fund
September 30,2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc.FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of
Type Number Date Date Date in days) remaining Per 100 Value (Prin.Only) Cd matV Int.A Mat'v Maturi Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM
FHLB 3133MYYS0 06/05/07 12/05/08 09105107 540 425 97.4000 200,000.00 194,800.00 10,440.00 210,440.00 5.31% 3.480% 0.00 UBS 5,200.00 508 197,620.00 0.31% 1.33
Subtotal 1,125,660.32 1,120,460.32 47,740.00 1,173,400.32 450.00 5,200.00 0.00 subtotal 1,123,590.32 1.80% 3.44
Fund 510-Drainage
FGIC N/A 100.0000 0.00 0.00 0.00 4.89% FGIC 510 0.00 0.00% 0.00
Texpool N/A 100.0000 3,972.10 3,972.10 3,972.10 5.13% Texpool 510 3,972.10 0.01% 0.00
FHLB 31339YEZ1 09/25/07 01/23/09 10123/07 478 473 98.2600 400,000.00 393,040.00 20,040.00 420,040.00 4.70% 3.340% 2,301.00 Vining 6,960.00 510 394,544.80 0.64% 3.01
Subtotal 403,972.10 397,012.10 20,040.00 424,012.10 2,301.00 6,960.00 0.00 subtotal 398,516.90 0.64% 3.01
Fund 511-Drainage CIP
FGIC N/A 100.0000 109,224.92 109,224.92 0.00 109,224.92 4.89% FGIC 511 109,224.92 0.18% 0.00
Texpool N/A 100.0000 929.65 929.65 929.65 5.13% Texpool 511 929.65 0.00% 0.00
FHLB 3133XA3K1 06/28/06 12/28/07 NIA 540 88 98.3657 250,000.00 245,914.25 16,312.50 266,312.50 5.50% 4.350% FSW 4,085.75 511 249,750.00 0.40% 0.35
FMAC 3128X1HV2 04/17/07 06/12/08 06/12107 415 252 97.5165 500,000.00 487,582.56 22,725.00 522,725.00 5.28% 3.030% 5,260.42 COASTAL 12,417.44 511 494,200.00 0.79% 2.00
Subtotal 860,154.57 843,651.38 39,037.50 899,192.07 5,260.42 16,503.19 0.00 subtotal 854,104.57 1.37% 2.35
Fund 512-Drainage Reserve
Texpool N/A 100.0000 232,157.37 232,157.37 0.00 232,157.37 5.13% Texpool 512 232,157.37 0.37% 0.00
Fund 520-Recreation Classes
FGIC N/A 100.0000 123,016.50 123,016.50 0.00 123,016.50 4.89% FGIC 520 123,016.50 0.20% 0.00
Texpool N/A 100.0000 130,010.72 130,010.72 130,010.72 5.13% Texpool 520 130,010.72 0.21% 0.00
Subtotal 253,027.22 253,027.22 0.00 253,027.22 0.00 0.00 0.00 subtotal 253,027.22 0.41% 0.00
Fund 521-Arbor Daze
FGIC N/A 100.0000 79,215.98 79,215.98 0.00 79,215.98 4.89% FGIC 521 79,215.98 0.13% 0.00
Texpool N/A 100.0000 1,234.15 1,234.15 0.00 1,234.15 5.13% Texpool 521 1,234.15 0.00% 0.00
Subtotal 80,450.13 80,450.13 0.00 80,450.13 0.00 0.00 0.00 subtotal 80,450.13 0.13% 0.00
ED
Fund 530Sottball World-Operating
FGIC N/A 100.0000 95,007.15 95,007.15 0.00 95,007.15 4.89% FGIC 530 95,007.15 0.15% 0.00
Texpool N/A 100.0000 44,242.70 44,242.70 0.00 44,242.70 5.13% Texpool 530 44,242.70 0.07% 0.00
Subtotal 139,249.85 139,249.85 0.00 139,249.85 0.00 0.00 0.00 subtotal 139,249.85 0.22% 0.00
Fund 531-Softball World-CIP
FGIC N/A 100.0000 0.00 0.00 0.00 0.00 4.89% FGIC 531 0.00 0.00% 0.00
Texpool N/A 100.0000 27,912.46 27,912.46 0.00 27,912.46 5.13% Texpool 531 27,912.46 0.04% 0.00
Subtotal 27,912.46 27,912.46 0.00 27,912.46 0.00 0.00 0.00 subtotal 27,912.46 0.04% 0.00
Fund 540-Go"Course
Texpool N/A 100.0000 121,579.53 121,579.53 121,579.53 5.13% Texpool 540 121,579.53 0.20% 0.00
FGIC NIA 100.0000 0.00 0.00 0.00 4.89% FGIC 540 0.00 0.00% 0.00
FMACDN 313396PN7 04/20/07 11/21/07 NIA 211 51 97.0079 200,000.00 194,015.83 5,984.17 200,000.00 5.22% MERRILL 540 198,640.00 0.31% 0.16
FMAC 3128X6GQ3 07/16/07 07/16/09 01/16108 720 646 100.0000 300,000.00 300,000.00 33,000.00 333,000.00 5.50% 5.500% 0.00 FSW 0.00 540 300,592.68 0.48% 3.12
Subtotal 621,579.53 615,595.37 38,984.17 654,579.53 0.00 0.00 0.00 subtotal 620,812.21 0.99% 3.28
Fund 541-Golf CIP
Texpool N/A 100.0000 513,340.92 513,340.92 0.00 513,340.92 5.13% Texpool 541 513,340.92 0.83% 0.00
FMAC 3128X6GD22 07/18/07 07/10/09 07110108 712 640 99.8750 500,000.00 499,375.00 53,000.00 553,000.00 5.37% 5.300% 588.89 MERRILL 625.00 541 502,082.50 0.80% 5.15
FHLB 3133XLLG6 07/23/07 07/23/09 07123108 720 653 100.0000 500,000.00 500,000.00 54,000.00 554,000.00 5.40% 5.400% 0.00 MERRILL 0.00 541 501,674.50 0.80% 5.25
Subtotal 1,513,340.92 1,512,715.92 107,000.00 1,620,340.92 0.11 588.89 625.00 0.00 subtotal 1,517,097.92 2.44% 10.40
Fund 550-Parks at Texas Star
Texpool N/A 100.0000 170,139.17 170,139.17 0.00 170,139.17 5.13% Texpool 550 170,139.17 0.27% 0.00
Fund 552-Phase II Athletic Complex
FGIC N/A 100.0000 0.00 0.00 0.00 0.00 4.89% FGIC 552 0.00 0.00% 0.00
Texpool N/A 100.0000 298,220.58 298,220.58 298,220.58 5.13% Texpool 552 298,220.58 0.48% 0.00
FHLB 3133XLCJ0 07/02/07 07/02/09 07102108 720 632 99.9750 500,000.00 499,875.00 53,750.00 553,750.00 5.39% 5.375% 0.00 DUNCAN 125.00 552 502,614.65 0.80% 5.08
Subtotal 798,220.58 798,095.58 53,750.00 851,970.58 0.00 125.00 0.00 subtotal 800,835.23 1.28% 5.08
Fund 601-Equipment Replacement
FGIC N/A 100.0000 91,017.04 91,017.04 91,017.04 4.89% FGIC 601 91,017.04 0.15% 0.00
Texpool NIA 100.0000 9,143.78 9,143.78 9,143.78 5.13% Texpool 601 9,143.78 0.01% 0.00
FHLB 3133XHXX5 01/22/07 11/27/07 WA 305 57 99.9320 500,000.00 499,660.00 25,625.00 525,625.00 5.20% 5.125% 3,914.93 SAMCO 340.00 601 500,250.00 0.81% 0.46
FHLB 3133X5ZL5 12/18/06 01/30/08 04130107 402 120 98.3279 250,000.00 245,819.75 11,000.00 261,000.00 5.08% 3.520% 1,173.33 COASTAL 4,180.25 601 249,025.00 0.40% 0.48
City of Euless
Investment by Fund
September 30,2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc.FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Accrued
Inv. Cusip Purchase Maturity Call Term Days Price Par Cost Interest Total Prin.+ Yield To Coupon Interest Seller Market %of
Type Number Date Date Date in days) remaining Per 100 Value (Prin.Only) A mat,y Int.Cdt Mat'v Maturi Rate Purchased Inst. Discount Premium Fund Value Portfolio WAM
FMAC 3128X52J6 04/12/07 10/09/08 07109107 539 369 100.0000 250,000.00 250,000.00 20,250.00 270,250.00 5.40% 5.400% SAMCO 601 250,050.00 0.40% 1.48
FHLB 31339YEZI 09/25/07 01/23/09 10123107 478 473 98.2600 200,000.00 196,520.00 10,020.00 210,020.00 4.70% 3.340% 1,150.33 Vining 3,480.00 601 197,272.40 0.32% 1.50
Subtotal 1,300,160.83 1,292,160.58 66,895.00 1,367,055.83 6,238.59 8,000.25 0.00 Subtotal 1,296,758.23 2.09% 3.93
Fund 610-Insurance
FGIC N/A 100.0000 33,361.52 33,361.52 33,361.52 4.89% FGIC 610 33,361.52 0.05% 0.00
Texpool N/A 100.0000 188,567.39 188,567.39 188,567.39 5.13% Texpool 610 188,567.39 0.30% 0.00
FMAC 3128X3KU6 10/13/06 12/03/07 12103106 410 63 98.5760 200,000.00 197,152.00 12,000.00 212,000.00 5.30% 4.000% 2,888.89 DUNCAN 2,848.00 610 199,720.00 0.32% 0.20
FHLB 3133XC6K4 01/24/07 12/27/07 N/A 333 87 98.9536 150,000.00 148,430.40 6,150.00 156,150.00 5.27% 4.100% 461.25 DUNCAN 1,569.60 610 149,760.00 0.24% 0.21
FHLB 3133XM5C1 08/27/07 01/28/08 151 118 100.0000 265,000.00 265,000.00 5,613.22 270,613.22 5.05% 5.050% FSW 610 265,321.60 0.43% 0.50
FHLB 3133X7HM9 10/26/06 03/28/08 nla 512 178 98.1748 50,000.00 49,087.39 3,500.00 53,500.00 5.35% 4.000% 655.56 FSW 912.61 610 49,795.00 0.08% 0.14
FHLB 3133XODZ9 02/05/07 08/12/08 02107107 547 312 97.9000 500,000.00 489,500.00 37,500.00 537,500.00 5.20% 3.750% 9,010.42 VINING 10,500.00 610 496,150.00 0.80% 2.50
FMAC 3128X52J6 04/12/07 10/09/08 07109107 539 369 100.0000 250,000.00 250,000.00 20,250.00 270,250.00 5.40% 5.400% SAMCO 610 250,050.00 0.40% 1.48
FHLB 3133XHCY6 10/17/06 10/17/08 01117/07 720 377 99.7810 500,000.00 498,905.00 50,000.00 550,000.00 5.48% 5.000% COASTAL 1,095.00 610 500,150.00 0.80% 3.03
FNMA 3136F7GK7 09/12/07 10/27/08 01127108 405 387 99.6500 125,000.00 124,562.50 7,156.25 132,156.25 4.90% 4.580% 707.04 Duncan 437.50 610 124,897.40 0.20% 0.78
FHLB 3133XEBA6 07/06/07 01/13/09 07113107 547 463 99.4810 125,000.00 124,351.25 12,850.00 137,850.00 5.50% 5.140% 3,087.57 Samco 648.75 610 125,133.44 0.21% 0.95
FNMA 3136F5GP0 09/19/07 03/16/09 09128107 537 526 98.8474 570,000.00 563,430.43 34,542.00 604,542.00 4.85% 4.040% 191.90 Coastal 6,569.57 610 566,067.00 0.91% 4.77
subtotal 2,956,928.91 2,932,347.87 189,561.47 3,146,490.38 17,002.63 24,581.03 0.00 subtotal 2,948,973.35 4.75% 14.57
Fund 615-Risk Management
FGIC N/A 100.0000 180,088.37 180,088.37 180,088.37 4.89% FGIC 615 180,088.37 0.29% 0.00
Texpool N/A 100.0000 64,239.89 64,239.89 64,239.89 5.13% Texpool 615 64,239.89 0.10% 0.00
FHLB 3133X13V7 04/12/07 09/30/08 NIA 528 360 98.7216 125,000.00 123,402.00 7,968.75 132,968.75 5.17% 4.250% 177.08 DUNCAN 1,598.00 615 124,637.50 0.20% 0.72
FNMA 3136F8HL2 03/27/07 03/27/09 06127107 720 537 100.0000 700,000.00 700,000.00 75,250.00 775,250.00 5.38% 5.375% FSW 615 701,540.00 1.13% 6.05
Subtotal 1,069,328.26 1,067,730.26 83,218.75 1,152,547.01 177.08 1,598.00 0.00 subtotal 1,070,505.76 1.72% 6.77
Fund 705-Dallas Stars Escrow Reserve
Texpool N/A 100.0000 1,971,140.05 1,971,140.05 1,971,140.05 5.13% Texpool 705 1,971,140.05 3.17% 0.00
m
o TOTAL 62,266,910.16 61,846,255.71 3,736,853.13 65,988,802.88 289,202.22 409,597.99 3,934.00 TOTAL 62,161,503.64 100.00% 265.62
City of Euless
Schedule of Purchases
July 2007
Investment Type Institution
LOGIC Local Govt Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local GOVt Pool FHLB Fed.Home Loan Bank TRILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Cost Accrued Total P+I�q
Inv. Cusip Purchase Maturity Call Term Price Par Book Value Interest Total Yield To Coupon Interest Seller Maty Net of Total Cost
Tvoe Number Date Date Date in days Per 100 Value (Prin.Only mat' Prin+Int Matur0v Rate Purchased Inst. Discount Premium Fund Prem.Disc&Int Pr of Investment
Texpool 07/03/07 100.0000 81,566.16 81,566.16 0.00 81,566.16 5.27% Texpool Various 81,566.16 81,566.16
FHLB 3133XLCJ0 07/02/07 07/02/09 07/02/08 720 99.9750 500,000.00 499,875.00 53,750.00 553,750.00 5.39% 5.375% 0.00 DUNCAN 125.00 552 553,750.00 499,875.00
FHLB 3133XESA6 D7/06I07 01/13/09 07/13/07 547 99.481D 125,000.00 124,351.25 12,85D.00 137,850.00 5.50% 5.140% 3,087.57 Samco 648.75 610 134,762.43 127,438.82
FMAC 312SXlLCO 07/10/07 12/17/07 N/A 157 98.8794 500,000.00 494,396.93 6,750.00 506,750.00 5.32% 2.700% 862.50 COASTAL 5,603.07 240 505,887.50 495,259.43
Texpool 07/10/07 100.0000 800,000.00 800,000.00 0.00 800,000.00 5.24% Texpool Various 800,000.00 800,000.00
Texpool 07/13/07 100.0000 1,500,000.00 1,500,000.00 0.00 1,500,000.00 5.26% Texpool Various 1,500,000.00 1,500,000.00
FMAC 3128X6GO3 07/16/07 07/16/09 01116108 720 100.0000 500,000.00 500,000.00 55,000.00 555,000.00 5.50% 5.500% 0.00 FSW 0.00 210,540 555,000.00 500,000.00
FNMA 3136F5CY5 D7/17/07 08/25/09 07126/07 758 97.7200 500,000.00 488,600.00 51,875.00 551,675.00 5.31% 4.150% 8,184.72 VINING 11,400.00 240 543,690.28 496,784.72
FMAC 3128X6GD22 07/18/07 07/10/09 07110/08 712 99.8750 500,000.00 499,375.00 53,000.00 553,000.00 5.37% 5.300% 588.89 MERRILL 625.00 541 552,411.11 499,963.89
FHLB 3133XLLG6 07/23/07 07/23/09 07/23108 720 100.0000 500,000.00 500,000.00 54,000.00 554,000.00 5.40% 5.400% 0.00 MERRILL 0.00 541 554,000.00 500,000.00
Texpool 07/27/07 100.0000 800,000.00 800,000.00 0.00 800,000.00 5.31% Texpool Various 800,000.00 800,000.00
TOTALS: 6,225,000.00 6,288,164.34 287,225.00 6,593,791.16 5.35% 12,723.611 18,401.82 0.00 6,581,067.48 6,300,888.02
LOGIC DIVIDENDS REINVESTED 0.30 0.30 0.30 0.30
TEXPOOL DIVIDENDS REINVESTED 43,525.94 43,525.94 43,525.94 43,525.94
FGIC DIVIDENDS REINVESTED 12,260.25 12,260.25 12,260.25 12,260.25
TOTAL INCLUDING DIVIDENDS: 6,280,786.49 6,343,950.83 287,225.00 6,593,791.16 6,636,853.97 6,356,674.51
C)
City of Euless
Schedule of Purchases
August 2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mod.Assoc. Fed.Home Loan Mod.Corp Vining Vining Sparks FSW First Southwest LOGIC Local GOVt Investment Coop.
FGIC Money Markel Pool FFCB Fed.Farm Credit Bank Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Cost Accrued Total P+I
Inv. Cusip Purchase Maturity Call Term Price Par Book Value Interest Total Yield To Coupon Interest Seller Mat'y Net of Total Cost
Type Number Date Date Date in days Per 100 Value (Prin.Only mat' Prin+Int Maturity Rate Purchase Inst. Discount Premium Fund Prem Disc&Int Pi of Investment
Texpool 08/03/07 100.0000 81,566.16 81,566.16 0.00 81,566.15 5.27% Texpool Various 81,566.16 81,566.16
Texpool 08/10/07 100.0000 3,900,000.00 3,900,000.00 0.00 3,900,000.00 5.62% Texpool Various 3,900,000.00 3,900,000.00
Texpool 08/10/07 100.0000 605,000.00 605,000.00 0.00 605,000.00 5.62% Texpool Various 605,000.00 605,000.00
Texpool 08/17/07 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.21% Texpool Various 500,000.00 500,000.00
Texpool 08/13/07 100.0000 600,000.00 600,000.00 0.00 600,000.00 5.06% Texpool Various 600,OOO.DO 600,000.00
FHLB 3133X4EJ6 08/24/07 12/18/07 09/18107 114 99.4136 435,000.00 432,449.06 10,766.25 445,766.25 5.20% 3.300% 6,220.50 COASTAL 2,550.94 502 439,545.75 438,669.56
FHLB 3133XMSC1 08/27/07 01/28/08 151 100.0000 265,000.00 265,000.00 5,613.22 270,613.22 5.05% 5.050% FSW 610 270,613.22 265,000.00
Texpool 08/30/07 100.0000 600,000.00 600,000.00 0.00 600,000.00 5.38% Texpool Various 600,000.00 600,000.00
TOTALS: 6,986,566.16 6,984,015.22 16,379.47 7,002,945.63 5.30% 6,220.50 2,550.94 0.00 6,996,725.13 6,990,235.72
LOGIC DIVIDENDS REINVESTED 0.30 0.30 0.30 0.30
TEXPOOL DIVIDENDS REINVESTED 46,377.34 46,377.34 46,377.34 46,377.34
FGIC DIVIDENDS REINVESTED 13,159.27 13,159.27 13,159.27 13,159.27
TOTAL INCLUDING DIVIDENDS: 7,046,103.07 7,043,552.13 16,379.47 7,002,945.63 7,056,262.04 7,049,772.63
O
N
City of Euless
Schedule of Purchases
September 2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gott Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Cost Accrued Total P+I Kp
Inv. Cusip Purchase Maturity Call Term Price Par Book Value Interest Total Yield To Coupon Interest Seller Mat'y Net of Total Cost
Type Number Date Date Date in da s Per 100 Value (Prin.Only mat' Prin+In Maturity Rate Purchased Inst. Discount Premium Fund Prem Disc&Int Pr of Investment
Texpool 09/04/07 100.0000 81,292.75 81,292.75 0.00 81,292.75 5.34% Texpool Various 81,292.75 81,292.75
FNMA 31359MDU4 09/05/07 05/18/08 N/C 253 100.6250 500,000.00 503.125.00 30,000.00 530,000.00 5.06% 6.01)0% 9,166.67 Samco 3125.00 101 517,708.33 512,291.67
FHLB 31339XTN4 09/07/07 01/09/09 10/09/07 482 97.9450 760,000.00 744,382.00 37,050.00 797,050.00 4.85% 3.250% 3,979.44 Merrill 15,618.00 505 793,070.56 748,361.44
Texpool 09/10/07 100.0000 1,000,000.00 1000,000.00 0.00 1,000,000.00 5.15% Texpool Various 1.000,000.00 1,000,00000
FNMA 3136F7GK7 09/12/07 10/27/08 01/27/08 405 99.6500 475,DOO.00 473,337.50 27,193.75 502,193.75 4.90% 4.580% 2,719.38 Duncan 1,662.50 305/501/502/610 499,474.37 476,056.88
FHLB 3133X66X9 09/12/07 04/20/09 09/17/07 578 98.7610 500,000.00 493.805.00 40,000.00 540000.00 4.81% 4.000% 7,888.89 Vining 6,195.00 240 532,111.11 501,693.89
Texpool 09/14/07 100,0000 900,000.00 900,000.00 0.00 900,000.00 5.12% Texpool Various 900,000.00 9D0,000.00
FHLB 3133XDPN5 09/14/07 11/10/08 09/18/07 416 99.8590 560,000.00 559.210.40 40,950.00 600,950.00 5.00% 4.875% 9,403.33 FSW 789.60 210 591.546.67 568,613.73
Texpool 09/17/07 100.0000 1,500,000.00 1,500,000.00 0.00 1,500,000.00 5.37% Texpool Various 1,500,000.00 1,500.000.00
FHLB 3133XGWK64 09/18/07 09/18/09 09/18/08 720 100.1430 300,000.00 300,429.00 30,960.00 330,960.00 5.01% 5.160% Duncan 429.00 330 330.531.00 300,429.00
FNMA 3136F5GP0 09/19/07 03/16/09 09/28/07 537 98.8474 570,000.00 563,430.43 34,542.00 604,542.00 4.85% 4.040% 191.90 Coastal 6,569.57 610 604,350.10 563,622.33
Texpool 09/21/07 100.0000 1,100,000.00 1,100,000.00 0.00 1,100,000.00 4.91% Texpool Various 1,100,000.00 1,100,000.00
FHLB 3133XC2A0 09/21/07 03/28/08 09/28107 187 99.8130 1,000,000.00 998.130.00 31,950.00 1,031,950.00 4.63% 4.260% 9,821.67 Samco 1,870.00 240 1,022,128.33 1,007,951.67
FGIC 09/24/07 100.0000 84,909.43 84,909.43 0.00 84,909.43 4.89% FGIC Various 84,909.43 84,909.43
FHLB 31339YEZ1 09/25/07 01/23/09 10/23/07 478 98.2600 600,000.00 589.560.00 30,060.00 630,060.00 4.70% 3.340% 3,451.33 Vining 10,440.00 510/601 626,608.67 593,011.33
FHLMC 3128X2JW6 09/26/07 01/14/09 10/01/07 468 99.D595 150,000.00 148,589.25 9,000.00 159,000.00 4.75% 4.000% 1,200.00 Duncan 1,410.75 305 157,800.00 149,789.25
Texpool 09/28/07 100.0000 400,000.00 400,000.00 0.00 400,000.00 5.13% Texpool Various 400,000.00 400,000.00
TOTALS. 10,481,202.18 10,440,200.76 311,705.75 10,792907.93 4.97% 47,822.61 44,555.42 3554.00 10,741,531.32 10,488,023.37
O
W LOGIC DIVIDENDS REINVESTED 0.30 0.30 0.30 0.30
TEXPOOL DIVIDENDS REINVESTED 51,203.93 51 203.93 51,203.93 51,203.93
FGIC DIVIDENDS REINVESTED 9,907.58 9.907.58 9.907.58 9,907.58
TOTAL INCLUDING DIVIDENDS. 10,542,313.99 10,501.312.57 311,705.75 10,792,907.93 10 802.643.13 10,549,135.18
City of Euless
Schedule of Maturities
July 2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mod.Assoc. FMAC Fed.Home Loan Mod,Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Term to Term to Cost Accrued Total P+I
Inv. Cusip Purchase Maturity Call Mat'y Call Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Mat'y or call Net of Total Cost
Type Number Date Date Date in days in days Per 100 Value (Prin.Only fm,mat'v/Call Int.(d Mat'v Maturity Rate Purchased Inst. Discount Premium Fund Prem 8 Int Pur. of Investment
Texpool 07/02/07 100.0000 600,000.00 600,000.00 0.00 600,000.D0 5,29% Texpool Various 600,000.OD 600,000.00
FHLB 31339XW26 10/26/06 07/09/08 01/09/07 613 369 98,7100 380,000.00 375.098.00 34,200.00 414,200.00 5.39% 2.250% 3,953.06 DUNCAN 4,902.00 502 410,246.94 379,051.06
FHLB 3133X32S1 11/07/05 07/13/07 01/13/06 606 13 98.8500 250,000.00 247,125.00 20,ODO.00 270,000.00 4.85% 3.000% 2,375.00 Duncan 2,875.00 240 267625.00 249,500.00
FHLB 3133XCBM4 07/10/06 07/13/07 07/13/06 363 13 98.5000 40,000.00 39,400.00 2,406.00 42,406.00 5.56% 4.010% 788.63 FSW 600.00 101 41,617.37 40,188.63
Texpool 07/16/07 100.0000 1,000,OOD.00 1,000,000.00 0.00 1.000,000.00 5.31% Texpool Various 1,000.000.00 1,000,000.00
Texpool 07/16/07 100.00D0 41,782.26 41,782.26 0.00 41,782.26 5.31% Texpool Various 41,782.26 41,782.26
Texpool 07/17/07 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.27% Texpool Various 500,000.00 500.000.00
Texpool 07/18/07 100.0000 400,000.00 400,000.00 0.00 400,000.00 5.27% Texpool Various 400,000.00 40D,000.00
Texpool 07/23/07 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.28% Texpool Various 500,000.00 500,000.00
Texpool 07/24/07 100.0000 500,000.00 500.000.00 0.00 500,000.00 5.28% Texpool Various 500.000.00 500,000.00
FNMA 3136F7EB9 01/19/06 07/27/07 04/27/06 548 27 99.4219 651,000.00 647,236.41 55,335.00 706,335.00 4.65% 4.250% 13,216.92 MERRILL 3,763.59 101 693.116.08 660,455.33
Texpool 07/31/07 100.0000 2,000,000.00 2,000,000+00 0.00 2,000,000.01) 5.32% Texpool Various 2,000,D00.00 2,000,000.00
TOTAL 6,862,782.26 6,850,641.67 111,941.00 6.974,723.26 5.23% 20,335.61 12,140.59 0.00 6,954,387.65 6,870,977.28
0
City of Euless
Schedule of Maturities
August 2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mort.Corp Vining Vining Sparks FSW First Southwest LOGIC Local GOVI Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Term to Term to Cost Accrued Total P+I
Inv. Cusip Purchase Maturity Call Maty Call Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Mat'y or call Net of Total Cost
Type Number Date Date Date in days 0.days Per 100 Value (Prin.Only 1 0,mafv/Call Int fm Mat'v Maturity Rate Purchased Inst. Discount Premium Fund Prem&Int Pur. of Investment
FHLB 3133XJRT7 02/08/07 08/08/08 05/08/07 540 368 100.0000 250,000.00 250,000.00 13,32500 263,325.00 5.33% 5.330% SAMCO 507 263,325.00 250,000.00
FNMA 31359MG98 02/09/06 08/09/07 05/09/06 540 9 100.0000 500,000.00 500,000.00 37,875.00 537,875.00 5.05% 5.050% MERRILL 103 537,875.00 500,000.00
FHLB 3133XCHT3 08/10/05 08/10/07 11/10/05 720 10 100.0000 500,000.00 500,000.00 4D,000.00 540,000.00 4.00% 4.000% FSW 501 540,000.00 500,000.00
Texpool 08/10/07 100.0000 605,000.00 605000.00 0.00 605,000.00 5.62% Texpool Various 605,000.00 605,000.00
FGIC 08/14/07 100.0000 200,000.00 200,000.00 0.00 200,000.00 5.17% FGIC Various 200,000.00 200,000.00
FHLB 3133XHLR1 11/14/06 05/14/08 08/14/07 540 284 99.9375 500,000.00 499,687.50 39,750.00 539,750.00 5.34% 5.300% DUNCAN 312.50 240 539,750.00 499687.50
FMAC 31315PKVO 02/15/07 02/15/08 08/15/07 360 195 100.0000 500,000.00 500,000.00 26,300.00 526,300.00 5.26% 5.260% FSW 502 526,300.00 500,000.00
Texpool 08/21/07 100.0000 900,000.00 900,000.00 0.00 900,000.01) 4.99% Texpool Various 900,00D.00 900,000.00
FHLB 3133XAKF3 12/02/05 11/23/07 02/23/06 711 113 99.3500 500,000.00 496750.00 92,500.00 592,500.00 4.80% 3.750% 468.75 Vining 3,250.00 240 592,031.25 497,218.75
FHLB 3133XAKF3 01/10/06 11/23/07 02/23/D6 673 113 99.5000 400,000.00 398,000.00 37,000.00 437,000.00 4.76% 3.750% 1,958.33 VINING 2,000.00 501 435,041.67 399,958.33
Texpool 08/24/07 100.0000 500,000.00 500,000.00 D.00 500,000.00 5.04% Texpool Various 500,000.00 500,000.00
FMAC 3128X34D2 10/12/D6 02/25/08 11/25/06 493 205 99.7500 300,000.00 299,250.00 23,250.00 323,250.00 5.21% 4.500% 1,762.50 VINING 750.00 610 321,487.50 301,012.50
FHLB 3133MWP47 01/23/07 08/28/07 N/A 215 28 98.8070 250,000.00 247017.50 8,000.00 258,000.00 5.25% 3,200% 3,222.22 SAMCO 2,982.50 401 254,777.78 250,239.72
TOTAL 5,905,000.00 5,895,705.00 318,000.00 6,223,000.00 5.06% 7411.80 9,295.00 0.00 6,215,588.20 5,903,116.80
0
City of Euless
Schedule of Maturities
September 2007
Investment Type Institution
LOGIC Local Gov't Pool FNMA Fed.Nat'l Mort.Assoc. FMAC Fed.Home Loan Mon.Corp Vining Vining Sparks FSW First Southwest LOGIC Local Gov't Investment Coop.
FGIC Money Market Pool FFCB Fed.Farm Credit Bank CD Certificates of Deposit Coastal Coastal Securities Merrill Merrill Lynch FGIC Financial Investors Trust
Texpool Local Gov't Pool FHLB Fed.Home Loan Bank TBILL Treasury Bill Samco Samco Securities Duncan Duncan Williams Texpool TEXPOOL
UBS UBS Financial Services
Term to Term to Cost Accrued Total P+I C�4
Inv. Cusip Purchase Maturity Call Mat'y Call Price Par Book Value Interest Total Prin.+ Yield To Coupon Interest Seller Mat'y or call Net of Total Cost
Type Number Date Date Date in days) in days) Per 100 Value (Prin.Only) 0 mat'v/Call Int.Cm Maty Maturity Rate Purchased Inst. Discount Premium Fund Prem&Int Pur. of Investment
Texpool 09/04/07 100.0000 600,000.00 600,000.00 0.00 600,000.00 5.34% Texpool Various 600,000.00 600,000.00
FHLB 3133XK3S2 03/05/07 09/05/07 N/A 180 -25 100.0000 1,000,000.00 1,000,000.00 25,750.00 1,025,750.00 5.15% 5.150% SAMCO 310,502,610 1,025,750.00 1,000,000.00
FNMA 31359MZB2 03/23/06 09/07/07 09/07106 524 -23 99,0625 800,000.00 792,500.00 52,500.00 852,500.00 5.05% 4.375% 1,555.56 MERRILL 7,500.00 505,510,601 850,944.44 794,055.56
Texpool 09/12/07 100.0000 500,000.00 500,000.00 0.00 500,000.00 5.09% Texpool Various 500,000.00 500,000.00
FHLB 3133XCY31 09/11/06 09/14/07 09/14/06 363 -16 99.1070 300,000.00 297,321.00 19,710.00 319,710.00 5.30% 4.380% 6,460.50 DUNCAN 2,679.00 240 313,249.50 303.781.50
FHLB 3133XCS95 10/24/06 09/14/07 n/a 320 -16 99.1250 440,000.00 436,150.00 18,700.00 458,700.00 5.26% 4.250°/% 2.077.78 MERRILL 3,850.00 305 456,622.22 438,227.78
FNMA 31359MYZ0 08/28/06 09/15/07 NIA 377 -15 98.9720 500,000.00 494,860.00 31,875.00 531,875.00 5.27% 4.250% 9,621.53 SAMCO 5,140.00 501 522,25347 504,481.53
FNMA 31359MYZ0 03/08/07 09/15/07 187 -15 99.5170 500,000.00 497,585.00 21,250.00 521,250.00 5.20% 4.250% 10,211.81 SAMCO 2,415.00 330 511,038.19 507,796.81
FNMA 31359MYZ0 03/12/07 09/15/07 183 -15 99.4960 500,000.00 497,480.00 21,250.00 521,250.00 5.27% 4.250% 10,447.92 SAMCO 2,520.00 210 510,802.08 507,927.92
FHLB 3133X4EM9 02/09/06 09/17/07 03/17/06 578 -13 97.0000 170,000.00 164,900.00 10,336.00 180,336.00 5.01% 3.040% 2,038.49 DUNCAN 5,100.00 502 178,297.51 166.938.49
Texpool 09/18/07 100.0000 1,250,000.00 1,250,000.00 0.00 1,250,000.00 5.23% Texpool Various 1,250,000.00 1,250,000.00
FHLB 3133XK6R1 03/19/07 03/19/08 09/19/07 360 169 100.0000 500,000.00 500,000.00 26,000.00 526,000.00 5.20% 5.200% SAMCO 505 526,000.00 500,000.00
Texpool 09/21/07 100.0000 1,250,000.00 1,250.000.00 0.00 1,250,000.00 4.91% Texpool Various 1,250,000.00 1,250,000.00
FMAC 3128X3A52 05/25/06 04/28/08 09/24/07 693 208 98.3838 200,000.00 196,767.60 16,000.00 216,000.00 540% 4.000% 600.00 DUNCAN 3,232.40 240 215,400.00 197.367.60
FHLB 3133XBNG3 12/21/06 09/23/08 09/24107 632 353 99.1310 100,000.00 99,131.00 7,000.00 107,000.00 5.34% 3.500% 977.78 DUNCAN 869.00 610 106,022.22 100,108.78
Texpool 09/24/07 100.0000 750,000.00 750,000.00 0.00 750,000.00 4.92% Texpool Various 750.000.00 750,000.00
FGIC 09/24/07 100.0000 5637.59 5,637.59 0.00 5,637.59 4.89% Texpool Various 5.637.59 5,637.59
0
w
FGIC 09/24/07 100.0000 79,277.84 79,277.84 0.00 79,271.84 4.89% Texpool Various 79.271.84 79,271.84
Texpool 09/25/07 100.0000 700,000.00 700,000.00 0.00 700,000.00 4.92% Texpool Various 700,000.00 700,000.00
Texpool 09/27/07 100.0000 200,000.00 200,000.00 0.00 200,000.00 5.14% Texpool Various 200,000.00 200,000.00
FNMA 31359MK51 01/04/07 09/28/07 NIA 264 -2 100.0400 460,000.00 460,184.00 23,920.00 483,920.00 5.13% 5.200% 6,378.67 SAMCO 184.00 101,505 477,357.33 466,562.67
TOTAL 10,804,909.43 10,771,788.03 274,291.00 11,079,200.43 5.14% 50,370.04 33,305.40 184.00 11,028,646.39 10,822,158.07
Investment M-Utes By Fund
S4914m64r47
Funet FGIG LOGIC TE%POOL Oct-0] a ] Da<-0] Jen-08 FeBdB M.,01Ror-06 M u�I-QB 1 ¢ N� 0.c-OB Feb-09 Mer-09 �-Q9 Jun-09 Jud A4QQ�
101 153,666.]] 0.00 )18.924.)1 1$0000000 1200.2]2.98 10)).226.00 49131920 5122916] 1])8,]2625 494261.11 960.568.]5 2493,693.13 1000000.00 50])55.51 12,485,]06.0]
102 0.00 D00 000 500,00000 500.000.00
1030.00 0.00 500.000.00 500 000.00
201 ]5,]56.09 0.00 43,)4).68 119,503.]]
210 203212.64 0.00 -.11-2 8],00].82 50000000 568,613.]3 200.000.00 195)4]0.51
211 98]9]1.14 0.00 0.00 98]9]1.14
220 0.00 0.00 18]8 9546 1.11165 250.415.]2 59],202.83
230 130514]] 000 50]33,52 181.248.29
231 12393.]9 0.00 10'411.33 116804.12
240 9,921.50 000 241506044 0.00 49525943 1989.15].1) 84],54].2] '94,069.4' )9J,>2].1] 193,26].)3 50260833 498.5]9.88 200.000.00 1010938.]2 501,69369 1,000,52831 496)84.]2 11,508336.02
301 ])94449 0.00 280098.43 494.]]212 20000000 503.]5552 15165)0.66
305 5459.1] 000 1363.)0]32 500000.00 245.680.36 100221.0] 1040.1'6.54 525000.00 ).)80114.46
310 85.168.2] 0.00 060].1. 200000.00 2939]5.43
320 0.00 0.00 2841).88 2841].81
325 30948.96 0.00 000 30,:1.96
330 (0.001 0.00 ],84535 200000.00 240366.28 100.000DO 300429.00 .56.640.fii
401 3,91633 000 2]).65 194,015.83 50000000 100000.00 ]98205.81
402 0.00 0.00 152242.fiB 152]42 61
410 000 000 000 000
501 58,570.15 67.03 1084,51349 000 495.]041] 299940.1] 491,]52.50 150,]4520 500016.]4 699300.00 30p,00000 491,]]222 500000.00 5,014,981.6]
502 5569569 000 412061]0 688.6695fi 991,626 550.42].63 302104.25 100.221,0] 5004416] 3602.048.35
503 000 0.00 411 319.29 4113
504 000 000 100 BOfi.9] 100606.9]
505 0.00 0.00 4],985.64 504.1909) 49],]916] 0.00 24]0]500 50201028 ]48 36144 254]42500
5060.00 0.00 0.00 0.00
501 0.00 0.00 251.123.19 25000000 501.123.19
SOB 191.134.16 000 18'S21 250,000.00 300.45000 19460000 1.12091032
510 0.00 0.00 3 9]3.10 395 341.00 399.31 J 10
511 109224.92 0.00 838.65 245,91425 492,843.98 BdB 911.30
512 0.00 0.00 232.15).3] 232,15].3]
520 123,016.50 000 130010/2 253,02].22
521 ]9215.98 0.00 1,234.15 .0.450.13
530 8500].15 0.00 44242.]0 13924965
531 0.00 0.00 2].912'6 2).812.
540 0.00 0.00 121.5]8.53 194015.B3 300.000.00 615595.36
541 0.00 0.00 513.340.92 999963.119 1513,304..1
550 000 0.00 1)0.1391] 1]0.1]9.1]
552 000 0.00 298220.5. 4996]500 ]83.095.58
601 81017,04 0.00 8,143.18 50]5]4.93 245993.0. 250.00000 19]6]0.33 1,2 98399.1]
610 3)36152 0.00 18656].39 3411.932.54 265.000.00 000 49,]4295 498510.42 0.00 8]4,1]454 121.438.8] 50.122,33 2849.)5051
fi15 1800883] 0.0064239.69 1235]900 ]00.00000 106)901.31
705 0.00 0.00 19]1.140.05 19]1.14005
710 0.00 0.00 0.00 0.00
0.00
T..I 2153.40441 6703 11691430.]2 504.190.9] 2,438 614,51 48]1 43625 511993.0. 2568.85218 ?33863625 1,833.613.93 1,556)88.)4 3.]65,296.40 1129,681.2] 1251313.75 866233.46 3,18639635 1,5]0.640.]5 3636.15941 4,609399.80 1,010.93822 2.08 622.33 993.466.11 1500529.31 1.999.030.89 1.504.295.75 300.429.00 1,000000.00 62.13548].9]
CITY OF EULESS
FISCAL POLICY
DATE: June 26, 1990 PREPARED BY:Finance Department
REV: ,January 22, 2008 Deleted:January 25,2007
RE: Investment Policy REVIEWED BY:City Manager
APPROVED BY:City Council
I. SCOPE
This investment policy applies to the investment activities of the Government of the City of
Euless, Texas. This policy serves to satisfy the statutory requirements of defining and
adopting a formal investment policy. The policy and strategy shall be reviewed annually by the
Investment Committee and any modifications must be approved by the Investment Committee
and forwarded to City Council for final approval. The City Council must adopt a written
instrument by rule, order, ordinance, or resolution stating that it has reviewed the investment
policy and investment strategies. Any changes made to either the policy or strategies will be
recorded in this written instrument. This Investment Policy, as approved, is in compliance with
Chapter 2256 of the Government Code, also known as "The Public Funds Investment Act".
A. FUNDS INCLUDED All financial assets of all funds, including the General Fund and any
other accounts of the City not specifically excluded in these policy guidelines are included.
These funds, as well as funds that may be created from time-to-time, shall be administered
in accordance with the provisions of these policies. All funds will be pooled for investment
purposes. The strategy developed for this pooled fund group will address the varying
needs, goals, and objectives of each fund.
B. FUNDS EXCLUDED None.
II. OBJECTIVES AND STRATEGY
A. COMPLIANCE The City must adopt rules designate_staff to manage local_funds and Deleted:and
submit related reports .as outlined by the Public Funds Investment Act ("PFIA°) Chapter Formatted:Bullets and Numbering
2256 Government Code of Texas. All investments made on behalf of the City must comply Deleted:per Article 4413(34c)
with the Public Funds Investment Act and all federal, state, and local statutes, rules, or
regulations. In conjunction with the comprehensive annual financial audit and report, the
City will perform, or have performed, a compliance audit of management controls on
investments and adherence to the City's approved investment policy.
B. SAFETY OF PRINCIPAL The primary objective of the City's investment activity is the- Formatted:Bullets and Numbering
preservation of capital in the overall portfolio. The objective will be to mitigate credit risk
and interest rate risk.
1. Credit Risk—The City of Euless will minimize credit risk, which is the risk of loss due
Formatted:Font:(Default)Arial,12
to the failure of the security issuer or backer, by:. pt,No underline
Formatted:Indent:Left: 36 pt
a. Limiting investments to the types of securities listed in Section V of this Formatted:Font:(Default)Arial,12
investment policy. pt,No underline
Page 2
Formatted:Indent:Left: 18 pt,
b. Pre-qualifying the financial institutions, broker/dealers and advisors with whom Hanging: 18 pt
the City of Euless will do business._ Formatted:Font:(Default)Anal,12
pt,No underline
c. Diversifying the investment portfolio so that the impact of potential losses from
any type of security or from any one issuer will be minimized.
2. Interest Rate Risk — The City of Euless will minimize interest rate risk which is the
risk that the market value of securities in the portfolio will fall due to changes in
market interest rates by:
Formatted:Indent:Left: 18 pt
a. Structuring the portfolio so that securities mature to meet cash requirements for
ongoing operations, avoiding the need to sell securities prior to maturity.
Formatted:Indent:Left: 36 pt
b. Investing operating funds primarily in shorter-term securities money market
mutual funds, or similar investment pools.
C. LIQUIDITY The City's investment portfolio will remain sufficiently liquid to enable the City- Formatted:Bullets and Numbering
to meet operating requirements that might be reasonably anticipated. Liquidity shall be
achieved by matching investment maturities with forecasted cash flow requirements and by
investing in securities with active secondary markets. In addition, all or a portion of the
Portfolio may be invested in money market mutual funds or local government investment
pools which offer same day liquidity for short-term funds.
D. YIELD The City's cash management portfolio shall be designed with the objective of
regularly exceeding the average rate of return on three-month U.S. Treasury Bills, or the
average Federal Reserve Discount whichever is higher. The investment program shall
seek to augment returns above this threshold consistent with risk limitations identified
herein and prudent investment principles.
Funds held for future capital projects shall be invested in securities that reasonably can be- Formatted:Indent:Left: 18 pt
expected to produce enough income to offset inflationary construction cost increases.
E. RISK OF LOSS All participants in the investment process shall seek to act responsibly as- Formatted:Bullets and Numbering
custodians of the public trust. Investment officials shall avoid any transaction that might
impair public confidence in the City's ability to govern effectively.
F. STRATEGY The strategy for all pooled funds is to assure that cash flows are matched with• Formatted:Bullets and Numbering
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.
Furthermore the following purposes are also considered when investing:
1. Funds for Capital Improvement Projects or special purposes should allow for- Formatted:Bullets and Numbering
flexibility and unanticipated project outlays by having a portion of their investments in
highly liquid securities. The stated final maturity dates of securities held should not
exceed the estimated project completion date. A weighted average maturity of 365
days or less will be maintained and calculated by using the stated final maturity of
each security.
Page 3
2. Funds for Debt Service should assure liquidity adequate to cover the debt service' Formatted:Bullets and Numbering
obligation on the required payment date. Surplus funds outside the debt service
dates will remain within the investment and fiscal policies.
3. Debt Service Reserves, Operating Reserves, Emergency and Contingency funds will' Formatted:Bullets and Numbering
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.
4. Operating funds will be structured in such a way as to minimize volatility during' Formatted:Bullets and Numbering
economic cycles. This may be accomplished by purchasing high quality short-term
securities which will compliment each other in a laddered maturity schedule. The
weighted average maturity on these funds will remain within the 6 to 9 month range
and calculated by using the stated final maturity date of each security.
III. INVESTMENT COMMITTEE
A. MEMBERS There is hereby created an Investment Committee, consisting of the City' Formatted:Bullets and Numbering
Manager and/or his designee,-the Deputy City Manager, the Director of Finance, and the Deleted:the Assistant City Manager
Mayor or Mayor's designee. The investment Committee shall meet at least quarterly to Deleted:the Finance Administrator
determine general strategies and to monitor results and shall call a special meeting of the Deleted:Finance Administrator shall
Investment Committee within 24 hours of notification of any significant events related to the schedule a meeting of the
City's portfolio including a downgrade in the investment rating. All prudent measures will be
taken to liquidate an investment whose rating has been downgraded to less than the
required minimum rating. The Investment Committee shall be authorized to invite advisors
to the meetings as needed including, but not limited to, the City Attorney, the City Council,
or outside advisors.
B. SCOPE The Investment Committee shall include in its deliberations such topics as:' Formatted:Bullets and Numbering
performance reports, economic outlook, portfolio diversification, maturity structure, potential
risk to the City's funds, authorized brokers and dealers, and the target rate of return on the
investment portfolio.
C. PROCEDURES The Investment Committee shall provide for minutes of its meetings. Any' Formatted:Bullets and Numbering
two members of the Investment Committee may request a special meeting, and three
members shall constitute a quorum. The Investment Committee shall establish its own
rules of procedures.
IV. RESPONSIBILITY AND CONTROL
A. DELEGATION Management responsibility for the Investment Program is hereby delegated
to the,Director of Finance, who shall establish written procedures and internal controls for Deleted: -investmentOffcers"
the operation of the investment program, consistent with this Investment Policy. Such
procedures shall include, but not be limited to, account management procedures, cash flow
procedures, investment transaction procedures, authorized dealer selection process,
investment portfolio reporting requirements, and explicit delegation of authority to persons
responsible for investment transactions. No person shall engage in an investment
transaction except as provided under the terms of this policy and the procedures
Page 4
established by the Director of Finance. The Director o= Finance shall be responsible for all Formatted:Font:(Default)Arial,12
transactions undertaken and shall establish a system of controls to regulate the activities of pt,Font color:Black
the Authorized Investment Officers and subordinate officials.
B. SUBORDINATES The,Director of Finance will serve as the city's chief investment officer.- Deleted:Assistant City Manager and
The Assistant Director of Finance, and the accountant responsible for cash and debt the Finance Administrator
analysis are hereby designated as Authorized Investment Officers, responsible for the Formatted:Bullets and Numbering
investment of the city's funds, pursuant to the Public Funds Investment Act Section
2256.005 Subsection F. Authority granted to a person to invest the funds on behalf of the Deleted:No person shall engage in
City shall remain in effect until rescinded by the City or until the person resigns from or is an investment transaction except as
provided under the terms of this policy
terminated by the City. All authorized investment officers shall receive at least 10 hours of and the procedures established by
investment training relating to their investment responsibilities, as described by the Public the"Investment Officers".
Funds Investment Act, at least once every 2 years. This training must be provided by an Deleted:The"Investment Officers"
shall be responsible for all
independent source which has been approved by the investment committee. At least one transactions undertaken and shall
training session must be completed by the investment officer within twelve months of establish a system of controls to
regulate the activities of subordinate
assuming their duties. The training must include, but is not limited to, education in investment officials. The
investment controls, security risks, strategy risks, market risks, diversification, and Deleted:,and the persons
compliance with the Public Funds Investment Act. authorized to execute investment
transactions
C. QUARTERLY REPORTS The-Director of Finance shall prepare and submit an investment- Deleted:Finance Administrator
report, at least quarterly, that summarizes recent market conditions, economic Deleted:quarterly
developments and anticipated investment conditions to management and City Council. If
Formatted:Bullets and Numbering
the city invests in other than money market mutual funds, investment pools or accounts
offered by its depository bank in the form of certificates of deposit or money market
accounts, or similar accounts, the reports prepared by the investment officers shall be
formally reviewed, at least annually, by an independent auditor, and the result of this review
shall be reported to the City Council by that auditor. The report shall be in compliance with
the Public Funds Investment Act and must:
1. describe in detail the investment position of the city on the date of the report;
2. be prepared jointly by all investment officers of the city
3. be signed by each investment officer of the city;
4. contain a summary statement, prepared in compliance with generally accepted
accounting principles, of each pooled fund group that states:
a. the beginning market value for the reporting period,
b. additions and changes to the market value during the period,
c. the ending market value for the period, and
d. the fully accrued interest for the reporting period;
5. state the book value, market value and maturity date for each separately invested asset
at the beginning and end of the reporting period by type of asset and fund type invested,-
6.
nvested;6. state the account or fund or pooled group fund in the city for which the individual- Formatted:Bullets and Numbering
investment was acquired;
Page
7state the compliance of the City's investment portfolio as it relate_ s to the City's- Deleted:summarize the investment
strateginvestment strategies and the Public Funds Investment Act; recentieseer,desdibethepn the r
recent quarter,describe the portfolio
in terms of investment securities,
8. explain the quarter's total investment return and compare the return with budgetary maturities,risk characteristics and
other features. The report shall be in
expectations; and compliance with the Public Funds
Investment Act and shall It shall also
The reports must
9. include an appendix that discloses all transactions during the past quarter. Formatted:cullers and Numbering
- - -- ----- - - --Direct
--------------- Deleted:<#>be formally reviewed,at
D. ANNUAL REPORTS Within 120 days of the end of the fiscal year, the Director of Finance' least annually,by an independent
shall present a comprehensive annual report on the investment program and investment auditor,and the results of this review
activity. The annual report shall include twelve-month and quarterly comparison returns, will be reported to the City Council by
P q Y p that Auditor.¶
and shall suggest improvements that might be made in the investment program. Formatted:Bullets and Numbering
E. MONITORING OF MARKET PRICE OF INVESTMENTS The investment officer shall Deleted:Assistant City Manager
determine the market value of each investment at least quarterly and at a time as close as
practicable to the closing of the reporting period for investments. Such values shall be
included on the investment reports. The following methods shall be used:
1. Certificates of deposits shall be valued at their face value plus any accrued but unpaid
interest.
2. Shares in money market mutual funds and investment pools shall be valued at par plus
any accrued but unpaid interest.
3. Other investment securities may be valued in any of the following ways:
a. the lower of two bids obtained from securities broker/dealers for such security;
b. the average of the bid and asked prices for such investment security as published in
the Wall Street Journal;
c. the bid price published by any nationally recognized security pricing service.
F. PRUDENCE , The standard of prudence to be used by the investment officers shall be Deleted:Investments shall be made
"prudent person" standard and shall be applied in the context of managing an overall with the ex
circumstaxercise of due care under
nces then prevailing,which
portfolio. The "prudent person" standard states that, "Investments shall be made with persons of prudence,discretion and
judgement and care, under circumstances then prevailing, which persons of prudence, intelligence exercise in the
o
management of their own affairs,not
discretion and intelligence exercise in the management of their own affairs, not for for speculation but for investment
speculation, but for investment, considering the probable safet of their capital as well as their own
considering al as well asthsafety of
Y their own capital as well as the
the probable income to be derived." Investment officers acting in accordance with written probable income to be derived.
procedures and the investment policy and exercising due diligence shall be relieved of
personal responsibility for an individual security's credit risk or market price changes,
provided deviations from expectations are reported in a timely fashion and appropriate
action is taken to control adverse developments.
G. ETHICS AND CONFLICTS OF INTEREST Officers and employees involved in the
investment process shall refrain from personal business activity that could conflict with
proper execution and management of the investment program, or that could impair their
ability to make impartial investment decisions. Employees and investment officers shall
Page 6
disclose any material interests in financial institutions with which they conduct business
They shall further disclose any personal financial/investment positions that could be related
to the performance of the investment portfolio Employees and officers shall refrain from
undertaking personal investment transactions with the same individual with whom business
is conducted on behalf of the City of Euless. , Deleted:DISCLOSURE Employees
and Investment Officials shall
An investment officer who has a personal business relationship with a busidisclose to the City Manager,City
ness' Council,and the Texas Ethics
organization offering to engage in an investment transaction with the city shall file a Commission any personal business
relationship with a business
statement disclosing that personal business interest Investment officers who are related organization offering to engage in an
within the second degree by affinity or consanguinity to an individual seeking to sell an
investmenttransactionfurther
disclose any Euless,and shall further disclose any
investment to the City shall also disclose such relationship. A statement required under large personal financial or investment
d to the
this section must be filed with the Texas Ethics Commission and the City Council.. For the
positionsthatof the
performance of the City's portfolio.
purpose of this section, an investment officer has personal business relationship with a Formatted:Indent:Left: 18 pt
business organization if:
Deleted:Employees and investment
officers shall subordinate their
1. The investment officer owns 10 percent or more of the voting stock or shares of the personal investment transactions to
those of this jurisdiction,particularly
business organization or owns $5,000 or more of the fair market value of the business with regard to the timing of purchases
organization; and sales.
2. Funds received by the investment officer from the business organization exceed 10
percent of the investment officer's gross income for the previous year; or
3. The investment officer has acquired from the business organization during the previous
year investments with a book value of $2,500 or more for the personal account of the
investment officer.
V. AUTHORIZED AND SUITABLE INVESTMENT SECURITIES
A. ACTIVE PORTFOLIO MANAGEMENT The City intends to pursue an active versus a
passive portfolio management philosophy. That is, securities may be sold before they
mature if market conditions present an opportunity for the City to benefit from the trade.
B. ELIGIBLE INVESTMENTS The following investments will be permitted by this policy as Deleted:(Per HB 2459)Assets of
defined by state and local law where applicable: funds of the government of the City of
Euless may be investe
Obligation of the United States or its agencies and instrumentalities (except for- Formatted:Numbered+Level:1+
mortgage pass-through securities); Numbering Style:1,2,3,...+Start
at:1+Alignment:Left+Aligned at:
18 pt+Tab after: 36 pt+Indent at:
Fully insured or collateralized" certificates of deposits issued by ja depository institution- 36 pt,Tabs: 60 pt,Left
that has its main office or branch in the State of Texas and is: Formatted:Numbered+Level: 1+
Numbering Style: 1,2,3,...+Start
at: 1+Alignment: Left+Aligned at:
a. guaranteed or insured by the Federal Deposit Insurance Corporation or its 18 pt+Tab after: 36 pt+Indent at:
successor or the National Credit Union Share Insurance Fund or its successor; 36 pt,Tabs: 60 pt,Left
Deleted:a state or national bank,a
savings bank,or a state or federal
b. secured by obligations that are described in the Tex. Gov't. Code Sec. 2256.009(a) credit union domiciled in
that has a market vaue of not less that the principal amount of the certificates but
excluding those mortgage backed securities as described by Tex. Gov't Code Sec.
2256.009(b); or
Page 7
c. secured in anv other manner and amount provided by law for deposits of the City of
Euless
3 Fully collateralized" repurchase agreements having a defined termination date.- Formatted:Numbered+Level:1+
(Repurchase agreement" means a simultaneous agreement to buy, hold for a specified Numbering Style: 1,z,3,...+Start
at: 1+Alignment:Left+Aligned at:
time, and sell back at a future date obligations described by Section V. A. of this Policy, 18 pt+Tab after: 36 pt+Indent at:
at a market value at the time the funds are disbursed of not less than the principal 36 pt,Tabs: 60 pt,Left
amount of the funds disbursed. The term refers to direct security repurchase
agreement and a reverse security repurchase agreement.) These investments must be
in accordance with a master repurchase agreement approved by the Investment
Committee-,*(see definition of collateral, Section VII).
4. Investment Pools with a weighted average maturity of 90 days or less. The pool must
enter into a contract approved (by resolution) by the City Council to provide services to
the city. The pool must be continuously rated no lower than AAA or AAA-m or at an
equivalent rating by at least one nationally recognized rating service. A public funds
investment pool created to function as a money market mutual fund must mark its
portfolio to market daily and, to the extent reasonably possible, stabilize at a $1 net
asset value. The pool must provide to the investment officer or authorized
representative of the entity an offering circular or other similar disclosure instrument
that contains, at a minimum, the following information:
a. the types and percentage breakdown of securities in which the pool is invested;
b. the maximum average dollar-weighted maturity allowed, based on the stated
maturity date, of the pool;
c. the maximum stated maturity date any investment security within the portfolio
has;
d. the objectives of the pool;
e. the size of the pool;
f. the names of the members of the advisory board of the pool and the dates their
terms expire;
g. the custodian bank that will safekeep the pool's assets;
h. whether the intent of the pool is to maintain a net asset value of one dollar and
the risk of market price fluctuation;
i. whether the only source of payment is the assets of the pool at market value or
whether there is a secondary source of payment, such as insurance or
guarantees, and a description of the secodary source of payment;
j. the name and address of the independent auditor of the pool;
k. the requirements to be satisfied for an entity to deposit funds in and withdraw
funds from the pool and any deadlines or other operating policies required for
the entity to invest funds in and withdraw funds from the pool; and
I. the performance history of the pool, including yield, average dollar weighted
maturities, and expense ratios.
To maintain eligibility to receive funds from and invest funds on behalf of an entity
under this chapter, an investment pool must furnish to the investment officer or
other authorized representative of the entity:
a. investment transaction confirmations; and
Page 8
b. a monthly report that contains, at a minimum, the following information:
1. the types and percentage breakdown of securities in which the pool is
invested;
2. the current average dollar-weighted maturity, based on the stated
maturity date, of the pool;
3. the current percentage of the pool's portfolio in investments that have
stated maturites of more than one year;
4. the book value versus the market value of the pool's portfolio, using
amortized cost valuation;
5. the size of the pool;
6. the number of participants in the pool,
7. the custodian bank that is safekeeping the assets of the pool;
8. a listing of daily transaction activity of the entity participating in the pool
9. the yield and expense ratio of the pool;
10.the portfolio managers of the pool; and
11.any changes or addenda to the offering circular.
5. No load money market mutual fund, registered with and regulated by the Securities
Exchange Commission, which has a dollar weighted average portfolio maturity of 90
days or less whose assets consist exclusively of the assets described in section A-C
and whose investment objectives includes the maintenance of a stable net asset value
of $1 for each share. Each fund must provide the City with a prospectus and other
information required by the Securites Exchange Act of 1934 or the Investment Advisor
Act of 1940.
6. Other such securities or obligations as approved by City Council upon recommendation
of the Investment Committee. No securities will be purchased which have a potential
for price volatility that is inappropriate for the City and incompatible with its investment
strategies. This includes, but is not limited to, certain collateralized" mortgage
obligations, such as principal and interest only securities, inverse floaters, capped and
mismatched floaters, and structures notes and range notes.
C. LENGTH OF INVESTMENTS Except for monies of Reserve funds, Emergency funds,
Contingency funds and construction funds, the City of Euless shall invest in instruments
whose maturities do not exceed two (2) years at the time of purchase.
1. For the General Fund, Water & Sewer Utility Fund, and any other operating funds, the
weighted average maturity of each fund's portfolio will remain within the 6 to 9 month
range.Assets held from bond proceeds may be invested in maturities with a final stated
maturity greater than (2) years based on estimated project completion dates.
2. Assets held in the General Obligation Interest & Sinking Fund may be invested in
maturities which provide liquidity adequate to cover the debt service payment dates.
3. Assets held in the General Emergency, General Contigency, Water & Sewer
Emergency, and the Short-term Motor Vehicle Reserve Funds may be invested in
maturities not exceeding five (5) years.
I
Pagc 9
4. An average remaining maturity of 365 days or less shall be maintained on bond
proceeds subject to arbitrage rebate restrictions, and the total portfolio average
remaining shall not exceed one year.
D. DIVERSIFICATION It is the policy of the City of Euless to diversify its investment
portfolios. Assets held in the common investment portfolio shall be diversified to eliminate
the risk of loss resulting from one concentration of assets in a specific maturity, a specific
issuer or a specific class of securities. Diversification strategies shall be determined and
revised periodically by the Investment Committee. In establishing specific diversification
strategies, the following general policies and constraints shall apply:
1. Portfolio maturities shall be staggered in a way that protects interest income from the
volatility of interest rates that avoids undue concentration of assets in a specific maturity
sector.
2. Securities shall be selected which provide for stability of income and reasonable
liquidity. In addition, the city will invest a portion of the city's portfolio in readily available
funds such as local government investment pools and money market funds to ensure
that appropriate liquiditv is maintained in order to meet ongoing obligations.
3. The Investment Committee shall establish strategies and guidelines for the percentage
of the total portfolio that may be invested in securities other than repurchase
agreements, treasury bills, or insured and collateralized` certificates of deposit.
4. The Investment Committee shall conduct a quarterly review of these guidelines, and
shall evaluate the probability of market and default risk in various investment sectors as
part of its considerations. "(see definition of collateral, Section VII)
5. The investment officer will obtain at least three competitive bids from approved brokers
on our broker/dealer list before making an investment transaction. In the event of a tie,
the choice will be made by a cumulative and objective manner.
E. ARBITRAGE Although steps have been taken to distribute bond issuance annually in
amounts not to exceed $5 million dollar increments, if this process does not occur, the City
of Euless will fall under arbitrage regulations.
The Tax Reform Act of 1986 provided limitations restricting the City's investing of tax-
exempt General Obligation Bond proceeds and debt service income. New arbitrage rebate
provisions require that the City compute earnings on investment from each issue of bonds
on an annual basis to determine if a rebate is required. To determine the City's arbitrage
position, the City is required to perform specific calculations relative to the actual yield
earned on the investment of the funds and the yield that could have been earned if the
funds had been invested at a rate equal to the yield on the bonds sold by the City. The
rebate provision states that periodically (not less than once every five years, and not later
than sixty days after maturity of the bonds), the City is required to pay the U.S. Treasury a
rebate of excess earnings based on the City being in a positive arbitrage position. The Tax
Reform restrictions require extreme precision in the monitoring and recording facets of
investments as a whole, and particularly as relates to yields and computations so as to
Page 10
insure compliance. Failure to comply can dictate that the bonds become taxable,
retroactively from the date of issuance.
The City's investment position relative to the new arbitrage restrictions is the continued
pursuit of maximizing yield on applicable investments while insuring the safety of capital
and liquidity. It is a fiscally sound position to continue maximization of yield and rebate
excess earnings, if necessary.
VI. SELECTION OF BANKS AND DEALERS
A. BIDDING PROCESS Periodically, a Depository shall be selected through the City's
banking services procurement process, which shall include a formal request for proposal
(RFP) issued in compliance with applicable State law. The contract can be extended as l Deleted: in even years
per the RFP specifications. In selecting depositories, the credit worthiness of institutions
shall be considered, and the Director of Finance shall conduct a comprehensive review-of Deleted:Finance Administrator
prospective depositories credit characteristics and financial history.
B. INSURABILITY Banks and Savings & Loan Associations seeking to establish eligibility for
the City's competitive investment program, shall submit financial statements, evidence of
federal insurance and other information as required by the Director of Finance. Deleted:Assistant city Manager.
C. AUTHORIZED BROKER/DEALERS A list will be maintained of "primary" dealears and Deleted:PRIMARY DEALERS&
regional dealers that qualify under the Securities and Exchange Commission (SEC) Rule APPROVED LISTS
15C3-1 (uniform net capital rule). All financial institutions and broker/dealers who desire
to become qualified for investment transactions must supply the audited financial
statements, proof of state registration and a completed broker/dealer questionnaire,All Deleted:For brokers and dealers of
brokers and dealers must be authorized by the Investment Committee, as analyzed by this government securities,the
Investment Committee shall select
Broker Questionnaire. Investment Officers shall not conduct business with any firm with only those dealers reporting to the
whom public entities have sustained losses on investments or whose name has been Market Reports Division of the
Federal Reserve Bank of New York,
removed from an approved list by the Investment Committee. At least annually, the also known as the"primary
investment committee will review, revise and adopt a list of qualified brokers that are unless
government a co preh nsivdealers,"crdit
unless a comprehensive credit and
authorized to engage in investment transactions with the City. capitalization analysis reveals that
other firms are adequately financed to
D. COMPLIANCE A written copy of the investment policy will be presented to any investment conduct public business.
pool or business organization offering to engage in an investment transaction with the City.
A qualified representative (as described by section 2256.002, subdivision 10 of the Texas
Government Code) of such business organization shall execute a written instrument, in a
form acceptable to both the city and the organization, certifying that they have received and
reviewed a written copy of the City's investment policy. The firm must acknowledge that it
has implemented reasonable internal procedures and controls in an effort to preclude
investment transactions conducted between the City and the organization that are not
authorized by the City's investment policy, except to the extent that this authorization is
dependent on an analysis of the makeup of the City's entire portfolio or requires an
interpretation of subjective investment standards. The investment officer of the City may
not acquire or otherwise obtain any authorized investment described in the City's
investment policy from a person who has not delivered such instrument. This instrument
does not, at any time, relieve the City of the responsibility of monitoring all investment
transactions to determine if they are in compliance with this policy.
Paye I I
VII. SAFEKEEPING AND CUSTODY
A. INSURANCE OR COLLATERAL All deposits and investments of City funds other than
direct purchases of U.S. Treasuries or U.S. Agencies shall be secured by pledged collateral
with a market value equal to no less than 105% of the deposits or investments less any
amount insured by the FDIC or FSLIC. Evidence of the pledged collateral shall be
maintained by the Director of Finance or a third party financial institution. Repurchase Deleted:Finance Administrator
agreements shall be documented by a specific agreement noting the collateral pledged in
each agreement. Collateral shall be reviewed monthly to assure the market value of the
securities pledged equals or exceeds the related bank balances.
B. SAFEKEEPING AGREEMENT All safekeeping arrangements shall be in accordance with
a Safekeeping Agreement approved by the Investment Committee which clearly defines the
procedural steps for gaining access to the collateral should the City of Euless determine
that the City's funds are in jeopardy. The safekeeping institution, or Trustee, shall be the
Federal Reserve Bank or an institution not affiliated with the firm pledging the collateral.
I The safekeeping agreement shall include the signatures of the City of Euless, the firm
pledging the collateral, and the Trustee.
C. COLLATERAL DEFINED The City of Euless shall accept only the following securities as
collateral:
1. FDIC and FSLIC insurance coverage.
2. United States Treasuries &Agencies.
3. Texas State, City, County, School, or Road District bonds with a remaining maturity of
ten (10) years or less with an investment grade bond rating from Moody's Investors
Services (Baa and above) and Standard & Poor's Corporation (BBB and above).
4. Other securities as approved by the Investment Committee.
D. SUBJECT TO AUDIT All collateral shall be subject to inspection and audit by the Director Deleted:Assistant City Manger
of Finance, or designee, as well as, the City's independent auditors.
E. DELIVERY VS. PAYMENT Treasury Bills, Notes & Bonds and Government Agencies'
Securities, and all other investment transactions, except investment pools and mutual
funds, shall be purchased using the delivery versus payment method. That is, funds shall
not be wired or paid until verification has been made that the collateral was received by the
Trustee. The collateral shall be held in the name of the City or held on behalf of the City.
The Trustee's records shall assure the notation of the City's ownership of or explicit claim
on the securities. The original copy of all safekeeping receipts shall be delivered to the
City.
VIII. MANAGEMENT AND INTERNAL CONTROLS
The Director of Finance, or designee, shall establish a system of internal controls which shall Deleted:Assistant City Manager
be reviewed by an independent auditor. The controls shall be designed to prevent losses of
public funds arising from fraud, employee error, misrepresentation by third parties,
Page 12
unanticipated changes in financial markets, or imprudent actions by employees or Investment
Officers of the City.
Controls and managerial emphasis deemed most important that shall be employed where
practical are:
A. Control of collusion
B. Separation of duties
C. Separation of transaction authority from Accounting and Record-keeping
D. Custodian safekeeping receipts records management
E. Avoidance of-physical delivery securities Deleted:bearer-form
F. Clear delegation of authority
G. Documentation of investment bidding events
H. Written confirmation ofXransactions for investments and wire transfers Deleted:telephone
I. Reconcilements and comparisons of security receipts with the investment subsidiary
records
J. Compliance with investment policies
K. Accurate and timely reports
L. Validation of investment maturity decisions with supporting cash flow data.
M. Adequate training and development of Investment Officials
N. Verification of all interest income and security purchase and sell computations
O. Review of financial conditions of all brokers, dealers, and depository institutions
P. Staying informed about market conditions, changes and trends that require adjustments in
investment strategies
CITY OF EULESS
FISCAL POLICY
DATE: June 26, 1990 PREPARED BY:Finance Department
REV: January 22, 2008 REVIEWED BY:City Manager
RE: Investment Policy APPROVED BY:City Council
I. SCOPE
This investment policy applies to the investment activities of the Government of the City of
Euless, Texas. This policy serves to satisfy the statutory requirements of defining and
adopting a formal investment policy. The policy and strategy shall be reviewed annually by the
Investment Committee and any modifications must be approved by the Investment Committee
and forwarded to City Council for final approval. The City Council must adopt a written
instrument by rule, order, ordinance, or resolution stating that it has reviewed the investment
policy and investment strategies. Any changes made to either the policy or strategies will be
recorded in this written instrument. This Investment Policy, as approved, is in compliance with
Chapter 2256 of the Government Code, also known as "The Public Funds Investment Act".
A. FUNDS INCLUDED All financial assets of all funds, including the General Fund and any
other accounts of the City not specifically excluded in these policy guidelines are included.
These funds, as well as funds that may be created from time-to-time, shall be administered
in accordance with the provisions of these policies. All funds will be pooled for investment
purposes. The strategy developed for this pooled fund group will address the varying
needs, goals, and objectives of each fund.
B. FUNDS EXCLUDED None.
II. OBJECTIVES AND STRATEGY
A. COMPLIANCE The City must adopt rules, designate staff to manage local funds, and
submit related reports as outlined by the Public Funds Investment Act ("PFIA") Chapter
2256 Government Code of Texas. All investments made on behalf of the City must comply
with the Public Funds Investment Act and all federal, state, and local statutes, rules, or
regulations. In conjunction with the comprehensive annual financial audit and report, the
City will perform, or have performed, a compliance audit of management controls on
investments and adherence to the City's approved investment policy.
B. SAFETY OF PRINCIPAL The primary objective of the City's investment activity is the
preservation of capital in the overall portfolio. The objective will be to mitigate credit risk
and interest rate risk.
1. Credit Risk = The City of Euless will minimize credit risk, which is the risk of loss due
to the failure of the security issuer or backer, by.
a. Limiting investments to the types of securities listed in Section V of this
investmentop licy.
Page
b. Pre-qualifying the financial institutions, broker/dealers and advisors with whom
the City of Euless will do business.
c. Diversifying the investmentop rtfolio so that the impact of potential losses from
awn rr type of security or from any one issuer will be minimized.
2. Interest Rate Risk — The City of Euless will minimize interest rate risk, which is the
risk that the market value of securities in the portfolio will fall due to changes in
market interest rates by:
a. Structuring the portfolio so that securities mature to meet cash requirements for
ongoing operations, avoiding the need to sell securities prior to maturity.
b. Investing operating funds primarily in shorter-term securities, money market
mutual funds, or similar investment pools.
C. LIQUIDITY The City's investment portfolio will remain sufficiently liquid to enable the City
to meet operating requirements that might be reasonably anticipated. Liquidity shall be
achieved by matching investment maturities with forecasted cash flow requirements and by
investing in securities with active secondary markets. In addition, all or a portion of the
portfolio may be invested in money market mutual funds or local government investment
pools which offer same day liquidity for short-term funds.
D. YIELD The City's cash management portfolio shall be designed with the objective of
regularly exceeding the average rate of return on three-month U.S. Treasury Bills, or the
average Federal Reserve Discount whichever is higher. The investment program shall
seek to augment returns above this threshold consistent with risk limitations identified
herein and prudent investment principles.
Funds held for future capital projects shall be invested in securities that reasonably can be
expected to produce enough income to offset inflationary construction cost increases.
E. RISK OF LOSS All participants in the investment process shall seek to act responsibly as
custodians of the public trust. Investment officials shall avoid any transaction that might
impair public confidence in the City's ability to govern effectively.
F. STRATEGY 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.
Furthermore the following purposes are also considered when investing:
1. Funds for Capital Improvement Projects or special purposes should allow for
flexibility and unanticipated project outlays by having a portion of their investments in
highly liquid securities. The stated final maturity dates of securities held should not
exceed the estimated project completion date. A weighted average maturity of 365
days or less will be maintained and calculated by using the stated final maturity of
each security.
Pa,e 3
2. Funds for Debt Service should assure liquidity adequate to cover the debt service
obligation on the required payment date. Surplus funds outside the debt service
dates will remain within the investment and fiscal policies.
3. Debt Service Reserves, Operating Reserves, Emergency and Contingency 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.
4. Operating funds will be structured in such a way as to minimize volatility during
economic cycles. This may be accomplished by purchasing high quality short-term
securities which will compliment each other in a laddered maturity schedule. The
I weighted average maturity on these funds will remain within the 6 to 9 month range
and calculated by using the stated final maturity date of each security.
III. INVESTMENT COMMITTEE
A. MEMBERS There is hereby created an Investment Committee, consisting of the City
Manager and/or his designee, the Deputy City Manager, the Director of Finance, and the
Mayor or Mayor's designee. The Investment Committee shall meet at least quarterly to
determine general strategies and to monitor results and shall call a special meeting of the
Investment Committee within 24 hours of notification of any significant events related to the
City's portfolio including a downgrade in the investment rating. All prudent measures will be
taken to liquidate an investment whose rating has been downgraded to less than the
required minimum rating. The Investment Committee shall be authorized to invite advisors
to the meetings as needed including, but not limited to, the City Attorney, the City Council,
or outside advisors.
B. SCOPE The Investment Committee shall include in its deliberations such topics as:
performance reports, economic outlook, portfolio diversification, maturity structure, potential
risk to the City's funds, authorized brokers and dealers, and the target rate of return on the
investment portfolio.
C. PROCEDURES The Investment Committee shall provide for minutes of its meetings. Any
two members of the Investment Committee may request a special meeting, and three
members shall constitute a quorum. The Investment Committee shall establish its own
rules of procedures.
IV. RESPONSIBILITY AND CONTROL
A. DELEGATION Management responsibility for the Investment Program is hereby delegated
to the Director of Finance, who shall establish written procedures and internal controls for
the operation of the investment program, consistent with this Investment Policy. Such
procedures shall include, but not be limited to, account management procedures, cash flow
procedures, investment transaction procedures, authorized dealer selection process,
investment portfolio reporting requirements, and explicit delegation of authority to persons
responsible for investment transactions. No person shall engage in an investment
transaction except as provided under the terms of this policy and the procedures
Pa:*e 4
established by the Director of Finance. The Director of Finance shall be responsible for all
transactions undertaken and shall establish a system of controls to regulate the activities of
the Authorized Investment Officers and subordinate officials.
B. SUBORDINATES The Director of Finance will serve as the city's chief investment officer.
The Assistant Director of Finance, and the accountant responsible for cash and debt
analysis are hereby designated as Authorized Investment Officers, responsible for the
investment of the city's funds, pursuant to the Public Funds Investment Act Section
2256.005 Subsection F. Authority granted to a person to invest the funds on behalf of the
City shall remain in effect until rescinded by the City or until the person resigns from or is
terminated by the City. All authorized investment officers shall receive at least 10 hours of
investment training relating to their investment responsibilities, as described by the Public
Funds Investment Act, at least once every 2 years. This training must be provided by an
independent source which has been approved by the investment committee. At least one
training session must be completed by the investment officer within twelve months of
assuming their duties. The training must include, but is not limited to, education in
investment controls, security risks, strategy risks, market risks, diversification, and
compliance with the Public Funds Investment Act.
C. QUARTERLY REPORTS The Director of Finance shall prepare and submit an investment
report, at least quarterly, that summarizes recent market conditions, economic
developments and anticipated investment conditions to management and City Council. If
the city invests in other than money market mutual funds, investment pools, or accounts
offered by its depository bank in the form of certificates of deposit, or money market
accounts, or similar accounts, the reports prepared by the investment officers shall be
formally reviewed, at least annually, by an independent auditor, and the result of this review
shall be reported to the City Council by that auditor. The report shall be in compliance with
the Public Funds Investment Act and must:
1. describe in detail the investment position of the city on the date of the report;
2. be prepared jointly by all investment officers of the city;
3. be signed by each investment officer of the city;
4. contain a summary statement, prepared in compliance with generally accepted
accounting principles, of each pooled fund group that states:
a. the beginning market value for the reporting period,
b. additions and changes to the market value during the period,
c. the ending market value for the period, and
d. the fully accrued interest for the reporting period;
5. state the book value, market value and maturity date for each separately invested asset
at the beginning and end of the reporting period by type of asset and fund type invested;
6. state the account or fund or pooled group fund in the city for which the individual
investment was acquired;
Page 5
7. state the compliance of the City's investment portfolio as it relates to the City's
investment strategies and the Public Funds Investment Act;
8. explain the quarter's total investment return and compare the return with budgetary
expectations; and
9, include an appendix that discloses all transactions during the past quarter.
D. ANNUAL REPORTS Within 120 days of the end of the fiscal year, the Director of Finance
shall present a comprehensive annual report on the investment program and investment
activity. The annual report shall include twelve-month and quarterly comparison returns,
and shall suggest improvements that might be made in the investment program.
E. MONITORING OF MARKET PRICE OF INVESTMENTS The investment officer shall
determine the market value of each investment at least quarterly and at a time as close as
practicable to the closing of the reporting period for investments. Such values shall be
included on the investment reports. The following methods shall be used:
1 . Certificates of deposits shall be valued at their face value plus any accrued but unpaid
interest.
2. Shares in money market mutual funds and investment pools shall be valued at par plus
any accrued but unpaid interest.
3. Other investment securities may be valued in any of the following ways:
a. the lower of two bids obtained from securities broker/dealers for such security;
b. the average of the bid and asked prices for such investment security as published in
the Wall Street Journal;
c. the bid price published by any nationally recognized security pricing service.
F. PRUDENCE The standard of prudence to be used by the investment officers shall be
"prudent person" standard and shall be applied in the context of managing an overall
portfolio. The "prudent person" standard states that, "Investments shall be made with
judgement and care, under circumstances then prevailing, which persons of prudence,
discretion and intelligence exercise in the management of their own affairs, not for
speculation, but for investment, considering the probable safety of their capital as well as
the probable income to be derived." Investment officers acting in accordance with written
procedures and the investment policy and exercising due diligence shall be relieved of
personal responsibility for an individual security's credit risk or market price changes,
provided deviations from expectations are reported in a timely fashion and appropriate
action is taken to control adverse developments.
G. ETHICS AND CONFLICTS OF INTEREST Officers and employees involved in the
investment process shall refrain from personal business activity that could conflict with
proper execution and management of the investment program, or that could impair their
ability to make impartial investment decisions. Employees and investment officers shall
Page 6
disclose any material interests in financial institutions with which they conduct business.
They shall further disclose any personal financial/investment positions that could be related
to the performance of the investment portfolio. Employees and officers shall refrain from
undertaking personal investment transactions with the same individual with whom business
is conducted on behalf of the City of Euless.
An investment officer who has a personal business relationship with a business
organization offering to engage in an investment transaction with the city shall file a
statement disclosing that personal business interest. Investment officers who are related
within the second degree by affinity or consanguinity to an individual seeking to sell an
investment to the City shall also disclose such relationship. A statement required under
this section must be filed with the Texas Ethics Commission and the City Council. For the
purpose of this section, an investment officer has personal business relationship with a
business organization if:
1. The investment officer owns 10 percent or more of the voting stock or shares of the
business organization or owns $5,000 or more of the fair market value of the business
organization;
2. Funds received by the investment officer from the business organization exceed 10
percent of the investment officer's gross income for the previous year; or
3. The investment officer has acquired from the business organization during the previous
year investments with a book value of $2,500 or more for the personal account of the
investment officer.
V. AUTHORIZED AND SUITABLE INVESTMENT SECURITIES
A. ACTIVE PORTFOLIO MANAGEMENT The City intends to pursue an active versus a
passive portfolio management philosophy. That is, securities may be sold before they
mature if market conditions present an opportunity for the City to benefit from the trade.
B. ELIGIBLE INVESTMENTS The following investments will be permitted by this policy as
defined by state and local law where applicable:
1. Obligation of the United States or its agencies and instrumentalities (except for
mortgage pass-through securities);
2. Fully insured or collateralized* certificates of deposits issued by a depository institution
that has its main office or branch in the State of Texas and is:
a. guaranteed or insured by the Federal Deposit Insurance Corporation or its
successor or the National Credit Union Share Insurance Fund or its successor;
b. secured by obligations that are described in the Tex. Gov't. Code Sec. 2256.009(a)
that has a market vaue of not less that the principal amount of the certificates but
excluding those mortgage backed securities as described by Tex. Gov't Code Sec.
2256.009(b); or
Page 7
c. secured in any other manner and amount provided by law for deposits of the City of
Euless
3. Fully collateralized* repurchase agreements having a defined termination date.
(Repurchase agreement" means a simultaneous agreement to buy, hold for a specified
time, and sell back at a future date obligations described by Section V. A. of this Policy,
at a market value at the time the funds are disbursed of not less than the principal
amount of the funds disbursed. The term refers to direct security repurchase
agreement and a reverse security repurchase agreement.) These investments must be
in accordance with a master repurchase agreement approved by the Investment
Committee-,*(see definition of collateral, Section VII).
4. Investment Pools with a weighted average maturity of 90 days or less. The pool must
enter into a contract approved (by resolution) by the City Council to provide services to
the city. The pool must be continuously rated no lower than AAA or AAA-m or at an
equivalent rating by at least one nationally recognized rating service. A public funds
investment pool created to function as a money market mutual fund must mark its
portfolio to market daily and, to the extent reasonably possible, stabilize at a $1 net
asset value. The pool must provide to the investment officer or authorized
representative of the entity an offering circular or other similar disclosure instrument
that contains, at a minimum, the following information:
a. the types and percentage breakdown of securities in which the pool is invested;
b. the maximum average dollar-weighted maturity allowed, based on the stated
maturity date, of the pool;
c. the maximum stated maturity date any investment security within the portfolio
has;
d. the objectives of the pool;
e. the size of the pool;
f. the names of the members of the advisory board of the pool and the dates their
terms expire;
g. the custodian bank that will safekeep the pool's assets;
h. whether the intent of the pool is to maintain a net asset value of one dollar and
the risk of market price fluctuation;
i. whether the only source of payment is the assets of the pool at market value or
whether there is a secondary source of payment, such as insurance or
guarantees, and a description of the secodary source of payment;
j. the name and address of the independent auditor of the pool;
k. the requirements to be satisfied for an entity to deposit funds in and withdraw
funds from the pool and any deadlines or other operating policies required for
the entity to invest funds in and withdraw funds from the pool; and
I. the performance history of the pool, including yield, average dollar weighted
maturities, and expense ratios.
To maintain eligibility to receive funds from and invest funds on behalf of an entity
under this chapter, an investment pool must furnish to the investment officer or
other authorized representative of the entity:
a. investment transaction confirmations; and
Page 8
b. a monthly report that contains, at a minimum, the following information:
1. the types and percentage breakdown of securities in which the pool is
invested;
2. the current average dollar-weighted maturity, based on the stated
maturity date, of the pool;
3. the current percentage of the pool's portfolio in investments that have
stated maturites of more than one year;
4. the book value versus the market value of the pool's portfolio, using
amortized cost valuation;
5. the size of the pool;
6. the number of participants in the pool;
7. the custodian bank that is safekeeping the assets of the pool;
8. a listing of daily transaction activity of the entity participating in the pool
9. the yield and expense ratio of the pool;
10.the portfolio managers of the pool; and
11 .any changes or addenda to the offering circular.
5. No load money market mutual fund, registered with and regulated by the Securities
Exchange Commission, which has a dollar weighted average portfolio maturity of 90
days or less whose assets consist exclusively of the assets described in section A-C
and whose investment objectives includes the maintenance of a stable net asset value
of $1 for each share. Each fund must provide the City with a prospectus and other
information required by the Securites Exchange Act of 1934 or the Investment Advisor
Act of 1940.
6. Other such securities or obligations as approved by City Council upon recommendation
of the Investment Committee. No securities will be purchased which have a potential
for price volatility that is inappropriate for the City and incompatible with its investment
strategies. This includes, but is not limited to, certain collateralized* mortgage
obligations, such as principal and interest only securities, inverse floaters, capped and
mismatched floaters, and structures notes and range notes.
C. LENGTH OF INVESTMENTS Except for monies of Reserve funds, Emergency funds,
Contingency funds and construction funds, the City of Euless shall invest in instruments
whose maturities do not exceed two (2) years at the time of purchase.
1. For the General Fund, Water & Sewer Utility Fund, and any other operating funds, the
weighted average maturity of each fund's portfolio will remain within the 6 to 9 month
range.Assets held from bond proceeds may be invested in maturities with a final stated
maturity greater than (2) years based on estimated project completion dates.
2. Assets held in the General Obligation Interest & Sinking Fund may be invested in
maturities which provide liquidity adequate to cover the debt service payment dates.
3. Assets held in the General Emergency, General Contigency, Water & Sewer
Emergency, and the Short-term Motor Vehicle Reserve Funds may be invested in
maturities not exceeding five (5) years.
Page 9
4. An average remaining maturity of 365 days or less shall be maintained on bond
proceeds subject to arbitrage rebate restrictions, and the total portfolio average
remaining shall not exceed one year.
D. DIVERSIFICATION It is the policy of the City of Euless to diversify its investment
portfolios. Assets held in the common investment portfolio shall be diversified to eliminate
the risk of loss resulting from one concentration of assets in a specific maturity, a specific
issuer or a specific class of securities. Diversification strategies shall be determined and
revised periodically by the Investment Committee. In establishing specific diversification
strategies, the following general policies and constraints shall apply-
1.
pply:1. Portfolio maturities shall be staggered in a way that protects interest income from the
volatility of interest rates that avoids undue concentration of assets in a specific maturity
sector.
2. Securities shall be selected which provide for stability of income and reasonable
liquidity. In addition, the city will invest a portion of the city's portfolio in readily available
funds such as local government investment pools and money market funds to ensure
that appropriate liquidity is maintained in order to meet ongoing obligations.
3. The Investment Committee shall establish strategies and guidelines for the percentage
of the total portfolio that may be invested in securities other than repurchase
agreements, treasury bills, or insured and collateralized* certificates of deposit.
4. The Investment Committee shall conduct a quarterly review of these guidelines, and
shall evaluate the probability of market and default risk in various investment sectors as
part of its considerations. *(see definition of collateral, Section VII)
5. The investment officer will obtain at least three competitive bids from approved brokers
on our broker/dealer list before making an investment transaction. In the event of a tie,
the choice will be made by a cumulative and objective manner.
E. ARBITRAGE Although steps have been taken to distribute bond issuance annually in
amounts not to exceed $5 million dollar increments, if this process does not occur, the City
of Euless will fall under arbitrage regulations.
The Tax Reform Act of 1986 provided limitations restricting the City's investing of tax-
exempt General Obligation Bond proceeds and debt service income. New arbitrage rebate
provisions require that the City compute earnings on investment from each issue of bonds
on an annual basis to determine if a rebate is required. To determine the City's arbitrage
position, the City is required to perform specific calculations relative to the actual yield
earned on the investment of the funds and the yield that could have been earned if the
funds had been invested at a rate equal to the yield on the bonds sold by the City. The
rebate provision states that periodically (not less than once every five years, and not later
than sixty days after maturity of the bonds), the City is required to pay the U.S. Treasury a
rebate of excess earnings based on the City being in a positive arbitrage position. The Tax
Reform restrictions require extreme precision in the monitoring and recording facets of
investments as a whole, and particularly as relates to yields and computations so as to
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insure compliance. Failure to comply can dictate that the bonds become taxable,
retroactively from the date of issuance.
The City's investment position relative to the new arbitrage restrictions is the continued
pursuit of maximizing yield on applicable investments while insuring the safety of capital
and liquidity. It is a fiscally sound position to continue maximization of yield and rebate
excess earnings, if necessary.
VI. SELECTION OF BANKS AND DEALERS
A. BIDDING PROCESS Periodically, a Depository shall be selected through the City's
banking services procurement process, which shall include a formal request for proposal
(RFP) issued in compliance with applicable State law. The contract can be extended as
per the RFP specifications. In selecting depositories, the credit worthiness of institutions
shall be considered, and the Director of Finance shall conduct a comprehensive review of
prospective depositories credit characteristics and financial history.
B. INSURABILITY Banks and Savings & Loan Associations seeking to establish eligibility for
the City's competitive investment program, shall submit financial statements, evidence of
federal insurance and other information as required by the Director of Finance.
C. AUTHORIZED BROKER/DEALERS A list will be maintained of "primary" dealears and
regional dealers that qualify under the Securities and Exchange Commission (SEC) Rule
15C3-1 (uniform net capital rule). All financial institutions and broker/dealers who desire
to become qualified for investment transactions must supply the audited financial
statements, proof of state registration, and a completed broker/dealer questionnaire: All
brokers and dealers must be authorized by the Investment Committee, as analyzed by this
Broker Questionnaire. Investment Officers shall not conduct business with any firm with
whom public entities have sustained losses on investments or whose name has been
removed from an approved list by the Investment Committee. At least annually, the
investment committee will review, revise and adopt a list of qualified brokers that are
authorized to engage in investment transactions with the City.
D. COMPLIANCE A written copy of the investment policy will be presented to any investment
pool or business organization offering to engage in an investment transaction with the City.
A qualified representative (as described by section 2256.002, subdivision 10 of the Texas
Government Code) of such business organization shall execute a written instrument, in a
form acceptable to both the city and the organization, certifying that they have received and
reviewed a written copy of the City's investment policy. The firm must acknowledge that it
has implemented reasonable internal procedures and controls in an effort to preclude
investment transactions conducted between the City and the organization that are not
authorized by the City's investment policy, except to the extent that this authorization is
dependent on an analysis of the makeup of the City's entire portfolio or requires an
interpretation of subjective investment standards. The investment officer of the City may
not acquire or otherwise obtain any authorized investment described in the City's
investment policy from a person who has not delivered such instrument. This instrument
does not, at any time, relieve the City of the responsibility of monitoring all investment
transactions to determine if they are in compliance with this policy.
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VII. SAFEKEEPING AND CUSTODY
A. INSURANCE OR COLLATERAL All deposits and investments of City funds other than
direct purchases of U.S. Treasuries or U.S. Agencies shall be secured by pledged collateral
with a market value equal to no less than 105% of the deposits or investments less any
amount insured by the FDIC or FSLIC. Evidence of the pledged collateral shall be
maintained by the Director of Finance or a third party financial institution. Repurchase
agreements shall be documented by a specific agreement noting the collateral pledged in
each agreement. Collateral shall be reviewed monthly to assure the market value of the
securities pledged equals or exceeds the related bank balances.
B. SAFEKEEPING AGREEMENT All safekeeping arrangements shall be in accordance with
a Safekeeping Agreement approved by the Investment Committee which clearly defines the
procedural steps for gaining access to the collateral should the City of Euless determine
that the City's funds are in jeopardy. The safekeeping institution, or Trustee, shall be the
Federal Reserve Bank or an institution not affiliated with the firm pledging the collateral.
The safekeeping agreement shall include the signatures of the City of Euless, the firm
pledging the collateral, and the Trustee.
C. COLLATERAL DEFINED The City of Euless shall accept only the following securities as
collateral:
1. FDIC and FSLIC insurance coverage.
2. United States Treasuries & Agencies.
3. Texas State, City, County, School, or Road District bonds with a remaining maturity of
ten (10) years or less with an investment grade bond rating from Moody's Investors
Services (Baa and above) and Standard & Poor's Corporation (BBB and above).
4. Other securities as approved by the Investment Committee.
D. SUBJECT TO AUDIT All collateral shall be subject to inspection and audit by the Director
of Finance, or designee, as well as, the City's independent auditors.
E. DELIVERY VS. PAYMENT Treasury Bills, Notes & Bonds and Government Agencies'
Securities, and all other investment transactions, except investment pools and mutual
funds, shall be purchased using the delivery versus payment method. That is, funds shall
not be wired or paid until verification has been made that the collateral was received by the
Trustee. The collateral shall be held in the name of the City or held on behalf of the City.
The Trustee's records shall assure the notation of the City's ownership of or explicit claim
on the securities. The original copy of all safekeeping receipts shall be delivered to the
City.
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VIII. MANAGEMENT AND INTERNAL CONTROLS
The Director of Finance, or designee, shall establish a system of internal controls which shall
be reviewed by an independent auditor. The controls shall be designed to prevent losses of
public funds arising from fraud, employee error, misrepresentation by third parties,
unanticipated changes in financial markets, or imprudent actions by employees or Investment
Officers of the City.
Controls and managerial emphasis deemed most important that shall be employed where
practical are:
A. Control of collusion
B. Separation of duties
C. Separation of transaction authority from Accounting and Record-keeping
D. Custodian safekeeping receipts records management
E. Avoidance of physical delivery securities
F. Clear delegation of authority
G. Documentation of investment bidding events
H. Written confirmation of transactions for investments and wire transfers
I. Reconcilements and comparisons of security receipts with the investment subsidiary
records
J. Compliance with investment policies
K. Accurate and timely reports
L. Validation of investment maturity decisions with supporting cash flow data.
M. Adequate training and development of Investment Officials
N. Verification of all interest income and security purchase and sell computations
O. Review of financial conditions of all brokers, dealers, and depository institutions
P. Staying informed about market conditions, changes and trends that require adjustments in
investment strategies